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,
ADti<
|;RARY
TWO
COPYRIGHTED IN 1936 6Y
WILLIAM B. DANA COMPANY, NEW
YORK.
SECTIONS
—
SECTION
ENTERED AS SECOND-CLASS MATTER JUNE 23,
OCT
ONE
1879, ATTHEPOST OFFICE AT NEW YORK,
1
9
fqoc
NEW YORK, UNDER THE ACT OF MARCH 3, 1379.
William B.Dana Co.,Publishers,
VOL. 143.
l,!uedW^S6YtraCopy~
NEW YORK, OCTOBER 10, 1936,
TRUST
BROOKLYN
Chartered
r
CHASE
THE
COMPANY
T:
NO. 3720
.
NATIONAL BANK
1866
George V. McLaughlin
NEW
The
BOSTON
YORK
CITY
THE
OF
Kidder, Peabody & Co.
OF
YORK
NEW
chase
is
•
tra-
President
ditionally a bankers' bank.
PHILADELPHIA
For
many
it has
years
BROOKLYN
NEW YORK
served
Member Federal Deposit Insurance
large number
a
Corporation
of banks and bankers
as
New York
WellsFanpBank
and
b
SAN
depository.
reserve
Member Federal Deposit Insurance
Corporation
Railroad
UnionTrustCo.
Bonds
FRANCISCO
United States
Corporation
Member Federal Deposit Insurance
correspondent
and
COMMERCIAL BANKERS SINCE 1852
Government
RESOURCES OVER $200,
Securities
The
FIRST BOSTON
Hallgarten & Co.
Brown Harriman & Co.
Incorporated
CORPORATION
Established 1850
y
63 Wall
Street, New York
BOSTON
NEW YORK
Telephone: BOwling Green 9-5000
CHICAGO
NEW YORK
Boston
SAN PRANCISCO
PHILADELPHIA
London
Chicago
Philadelphia
Chicago
San Francisco
Representatives in other leading Cities
AND OTHER PRINCIPAL CITIES
throughout the United States
L
Wertheim & Co.
120
The
Broadway
State and
New York
Amsterdam
London
CARL M. LOEB & CO.
61
BROADWAY
NEW YORK
Company
Barr Brothers & Co.
Capital Funds
t
Municipal Bonds
NewTbrkTrust
.
$32,500,000
•
INC.
Chicago
New York
Berlin
Amsterdam
Paris
London
IOO BROADWAY
57TH ST. & FIFTH AVE.
c.
40TH ST. & MADISON
United States Government
AVE.
SECURITIES
NEW YORK
EDWARD B. SMITH & CO.
PHILADELPHIA
New York
•
.
Pittsburgh
(5th Ave.)
•
State
New York
31 Nassau Street
Cleveland
'
BOSTON
•
Allentown
European Representative s Office:
London
•
Easton
-
Municipal
Industrial
8 KING
Railroad
WILLIAM STREET
-
Public Utility
BONDS
LONDON, E. C. 4
I
R.W.Pressprich&Co.
*
Correspondent
Edward B. Smith & Co., Inc.
Minneapolis
CHICAGO
St, Loula
Members New York Stock Exchange
Member Federal Reserve System
N. Y.
and
Clearing House Association
New York
Chicago
Philadelphia
San Francisco
fl
Financial
A. G. Becker & Co.
Chronicle
1936
10,
BAKER^WEEKS
Incorporated
& HARDEN
Established 1893
Investment Securities
Investment Securities
52 WALL
New York
J. & W. Seligman & Co.
Members
New York Stock Exchange
New York Curb Exchange
i)
No.
Philadelphia Stock Exchange
Chicago Board of Trade
Commercial Paper
Chicago
And Other Cities
-
Oct.
54
Wall
NEW
Street
YORK
STREET, NEW YORK
Graybar Building, New York
Commercial Trust Bldg., Philadelphia
London
Buhl Building, Detroit
Lothbury, London, E. C. 2
Bourse Building, Amsterdam
Correspondents
6
SELIGMAN
BROTHERS
52, Avenue des Champs-Elysees, Paris
BIRMINGHAM
/
MARX & CO.
BIRMINGHAM, ALABAMA
SOUTHERN
MUNICIPAL
AND
CORPORATION BONDS
Manufacture
NEWARK
New
Jersey State & Municipal Bonds
r s
TRUST COMPANY
Newark Bank & Insurance Stocks
Condensed Statement
J. S. RIPPEL & CO.
18 Clinton! St.
ST.
of Condition
close of business
as at
September 30, 1936
Newark, N. J.
LOUIS
RESOURCES
Cash and Due from Banks
$151,332,678.33
U. S. Government Securities
State and
St. Louis Securities
&
Securities
.
17,233,736.35
2,278,050.00
....
53,943,295.49
.
Loans and Bills Purchased
.
208,583,538.53
Mortgages
BAtNT LOUIS
MX) OLIVE SI
26,914,901.31
Banking Houses
Members St. Louis Stock
.
242,050,069.65
.......
Stock of Federal Reserve Bank
Other
3ti>\
Municipal Bonds
Exchange
.
Other Real Estate
14,468,700.00
.
Equities
5,029,783.27
Customers' Liability for
Acceptances
Accrued Interest and Other Resources
17,834,861.67
.
2,702,898.85
$742,372,513.45
—
Missouri and Southwestern
Stocks and Bonds
LIABILITIES
Preferred Stock
Common
Smith, Moore & Co,
St. Louis
$10,000,000.00
....
Stock
32,935,000.00
Surplus and
Undivided Profits
.
35,132,936.83
.
$ 78,067,936.83
Reserves
The First Boston
St. Louis Stock
Corp. Wire
Exchange
12,348,492.94
Common Stock Dividend
(Payable October 1, 1936)
823,375.00
Preferred Stock Dividend
(Payable October 15, 1936)
DETROIT
250,000.00
Outstanding Acceptances
18,140,624.99
Deposits
632,742,083.69
$742,372,513.45
MICHIGAN MUNICIPALS
and
HARVEY
CORPORATION BONDS
D.
GIBSON,
President
WATLING, LERCHEN & HAYES
Members
New York Stock Exch.
New York Curb Assoe.
Detroit Stook Exchange
Chicago Stock
Principal Office: 55 Broad Street, New York City
Exch.
334 BUHL
BLDG.,
DETROIT
Member Federal Reserve
Member New York
Member Federal
PUBLIC UTILITY BONDS
The
Members Detroit Stock
Exchange
PENOBSCOT BUILDING,
DETROIT, MICH.
Deposit Insurance Corporation
Both Common and
Preferred shares have a par value of $20 each.
Preferred is convertible into and has a preference over the
Common
Charles A. Parcel Is & Co.
System
Clearing House Association
to
the
extent
of $50
per
share and accrued dividends.
Vol. 143
OCTOBER 10,1936
No. 3720
CONTENTS
;
Editorials
page
Financial Situation
2256
The Case
2270
Against the Social Security Act
Attacking the Trade Barriers-.
.2271
__
Comment and Review
New
Capital
Flotations
in
September
and
for
the
Nine Months
2273
New Capital Issues in Great Britain
2279
Week on the European Stock Exchanges
Foreign Political and Economic Situation
Foreign Exchange Rates
and
Comment
...2260
2261
2266 & 2308
Course of the Bond Market
2278
Indications of Business
2280
Activity
Week
on
the New York Stock
Week
on
the New York Curb
Exchanges....
Exchange
2259
2307
'
t
News
Current Events and Discussions
Bank and Trust
General
2290
Company Items
..2305
Corporation and Investment News
Dry Goods Trade
State
and
2355
2399
Municipal Department.
I
2400
Stocks and Bonds
Foreign Stock Exchange Quotations
Dividends Declared
2354
...2313
Auction Sales
2354
New York Stock Exchange—Stock Quotations
2321
New York Stock Exchange—Bond Quotations..2320 & 2330
New York Curb
Exchange—Stock Quotations
2336
New York Curb
Exchange—Bond Quotations..
2339
Other Exchanges—Stock and Bond
Quotations—
Canadian Markets—Stock and Bond Quotations
2342
2347
Over-the-Counter Securities—Stock & Bond Quotations.2350
Reports
Foreign Bank Statements
2265
Course of Bank
2308
Clearings
Federal Reserve Bank Statements
General
...2317
Corporation and Investment News
2355
Commodities
The Commercial Markets and
Cotton
the
Crops
2389
1.2392
Breadstuff s
2397
Published Every Saturday Morning by the William B. Dana Company, 25 Spruce Street, New York City
Herbert D. Seibert, Chairman of the Board and Editor1 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
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(except Spain), Asia Australia and-Africa, $20.00 per year; $11.50 for 6 months.
Transient display advertising matter. 46 cents
per agate line.
Contract and card
rates
on
request.
The Financial Situation
a
wide tour
throughout the country with many formal
ALFRED E. SMITH closed his with an appeal to
delphia
Thursday evening address in Phila-
and informal addresses
the
Landon still fails to get
^
on
public to separate the "political bunk" of the cur¬
istration to remain faithful to the party
paign, although he, too, is beginning another journey
dress
not at all
was
free
of
otherwise,
or
witness the
tion
"slogans" at
of
fallacious
home
old
is
all
if
of the past
ances
two have
been
week
largely de¬
dissemination of
voted to
"political bunk," and
few
very
needed
and
or
much-
the
to
work
of
very,
collating
expounding fact. Dis¬
cussions
of
current
the
ques¬
tures of
There
pected to be particularly
and
teur
well
all
as
but
over
the dam,
of
same
the
national
not only be¬
The posi¬
household is much the
that of the individual
as
thought
file,
who is living
of
are
pait
the
rank
taking
in
the
matter of
a
fact, the situation
ally exists in the
case
is still worse,
ment
an
as
previous
been
on
and
have
given to the employ¬
ment of red
herring.
Presi¬
dential candidates have not
.<
always given
evidence,:
either before
+]
after elec¬
or
tion, of being real states¬
Dreamers,
men.
profes¬
sional reformers and pana¬
cea-lovers
have
quently in
one
of the Federal
govern¬
since the funds obtained
extremely hazardous inflationary element
that all this, either in
respect to the bonus or any of the other gov¬
ernmental expenditures, is merely an aca¬
demic question, or that debates concerning
it are of the hair-splitting kind.
If we are
a nation of honorable people who refuse to re¬
pudiate their obligations, we shall for several
generations be paying the bonus, the so-
burlesque,
tisan advantage,
deceive
elect.
all
degree
a
one
of
by
the farmers, and
benefit payments to
host
of
other
fact should
par¬
suppose
such
never
for
a
essential
be lost sight
This
sums.
moment
any one.
suppose
that
even
Secretary of the Interior is
the political platform
were
the uninformed than the much
the
almost
so
fond when
less likely to mislead
more
dignified
presen¬
misleading figures and misinterpretations of
number of other political
more
seriously,
even
personages
ordi¬
unto the President
himself.
Unfortunately,
work and
the
most
day,
and
time
in
so
there
perhaps
there is
reason
enough to
fewer
leaders
qualified for these tasks.
The World War and the
aftermath of mistaken gov¬
ernment
over
policies the world
long
situation
ago
from
created
which
escape
a
hu¬
only
painstaking, patient
intelligent management of the
The New Deal in this country,
upon
parts of the world, but the very thought
spirit of the people almost everywhere, have been
deeply affected, if not infected, by age-old fallacies
which all such nostrums rest.
We
are
in des¬
perate need of true leadership and sound ihstruction
the
in
immediately ahead.
The
The President is just beginning
no
Meanwhile, not merely the programs espoused
in various
upon
moreover,
at
history have
our
been
poli¬
urgent as-4o=-
policies of the New Deal variety abroad, have
Ossa.
and
of
facts, and the formu¬
during the past three or four years piled Pelion
expect much more of the same sort during the weeks
dispas¬
consideration
sionate
the
has the need
thinking,
by
of which the
narily taken
to us,
clear
manity could
and
a
seems
But
great many years,
very
affairs of the world.
by
it
a
the
grotesque exaggerations and the rather cheap phrases
tation of
not for
may
but
or
another threatened the wel¬
they
should
We
no
called
superficially plausi¬
for purely
infre¬
not
lation of constructive
Let
but in the wily false proph¬
that,
many
occasions
cies been-
an
situation is found not in
facts
forms. Politicians
which in effect create them and thus inject
But, after all, the most
upon
meaningless,
evasive, inconsistent plat¬
have been acquired not from those who had
earned and saved them, but from the banks,
cam¬
hazardous element in such
ble
with
it actu¬
into the state of affairs.
ignorance
cam¬
paigns have been conducted
of
As
Where the Danger Lies
so
Other Presidential
fare of the country.
guide the seri¬
paigning of the day—
ets
Situation Urgent
beyond his means, obtaining the funds for
the purpose by borrowing from friends willing
to lend to him.
Pay-day is coming as surely
as if such operations were carried on an open
for the moment,
to
or
active
a
:
book account without current settlements.
eye
inform
and
water
as
far
wholly unqualified to
ous
this
tion
figures, by chance in the
public
infinite
recovery
turbing meaning for the future.
other
numerous
the.
yond recall but also without specific and dis¬
ama¬
professional,
as
with
doctrines that lead the rank and file to view
especially
or
helpful when athletes,
also
day without in¬
an
and relief expendi¬
the past three or four years.
is real danger in the preaching of
variety of other
tions could hardly be ex¬
enlightening
So
veterans.
around
way
helpful leadership.
entered
by delivery of interest-bearing obligations of
Federal
government,
and when such
obligations were presented for payment, as
most of them have been, they were honored
from the proceeds of the sale of still other
obligations of the government.
More is involved in this controversy than
the technical use of words, and the under¬
lying truth of the matter applies to many
other payments that may or may not have
been officially referred to as "out of the way."
Thus, farm benefit payments (of which, evi¬
dently, the Governor as well as the President
approves) are "out of the way" in much the
same sense, for example, as the payments^ to
political utter¬
their
the involved prob
telligent, dispassionate and
of the way and is no longer a future
the
practically
not
the
of
out
now
host of speak¬
a
lems of the
"That payment
said:
recent address
a
objection to the statement of the President
on the ground that the "payment" was made
buying them abroad. But
many
find
among
obligation of the Government."
Governor
Landon
promptly
rails at
compared with
as
Way?
Referring to the soldiers' bonus the Presi¬
dent in
steel
buying
more or
Meanwhile,
shriek empty if alliterative
less helpless voters who often
are by no means prepared
to
Out of the
about the advantages
saw
satisfying.
as
approving cita¬
the
of
more
(and bill boards)
ers
points
whether
"bunk,"
political
be
may
platform and
frequently punctuated with addresses which
be
to
pre-election promises, the fact is that his own ad¬
to
had been led
hope that he would in the latter days of the cam¬
to
is
Governor
his schedule.
cussion of most current issues, as many
The advice
excellent, but difficult for the average man to fol¬
low.
Indeed, although every thoughtful citizen
must recognize the validity of what Mr. Smith had to
say about the distressing failure of the present Admin¬
political campaign from the facts.
rent
on
down to hard pan in his dis¬
very
present
elements of economics and business.
campaign has, however,
not
brought
Volume
leaders
Financial
143
capable of such work to the fore, although the
situation cries to heaven for them.
to be the most
This
to
seems
us
taliation, and the soil
!v.:'•,■.>'JC;"
Currency Problems
Other factors
ing
of them
some
of
are
equal importance, and
we seem
proceed intelligently
Example
as an
thus well prepared for later
was
unfortunate growths.;
disheartening aspect of current devel¬
opments.
2257
Chronicle
to show
It has been
consistently.
or
concern¬
readiness to
no
semi-officially made known at Washington that the
Leadership of this type is obviously needed in all
economic life
departments of the
but its urgent
of the nations,
need is for the moment most empha¬
sized, perhaps, in the field of international
relationships.
world have
in
rency
currency
Several of the leading nations of the
1
lately taken steps to devalue their
cur¬
designed, doubtless, to eliminate the
a way
evil consequences
of
devaluation of 1934;
our
The
question is: Have those in responsible positions in the
various governments
concerned
adequate under¬
an
President
further
strongly desires to retain the
assurances
he must,
by
the matter
on
if
will by executive
to
use
currency
trolling
quarters it is evidently
many
that the problem is largely,
posed
sup¬
if not almost
solely, that of fixing theoretical ratios between the
several currencies involved and of
to use
a
more
manipulating,
or
word, controlling, exchange
common
rates to make such ratios effective.
things, has of late
among other
taken
ratios
currency
Sound, stable
not the product of
are
Neither
gaining.
shrewd bar¬
or
they created by governmental
are
fiats about the
"gold content" of this, that and the
other
unit,
currency
such units
being locked in vaults buried deep in the
ground and fortified with all the cunning of modern
what
ought to be
given
real,
a
claim
upon
have
The value of
any
complex set of factors operating in
work-a-day world.
include not
it.
may
in terms of other currencies is the
currency
end-result of
a
and all who
any
These factors, of
a
course,
only theoretical gold parities, but trade
policies, financial policies and management within the
various countries
involved, and
tions that tend to govern the
of
capital.
once
must
many
other considera¬
international movements
Merely to state such elementary facts at
suggests the magnitude of the difficulties that
yet be overcome if real progress is to be made in
re-establishment of order
kets.
in
foreign exchange
V; r/;'
;
mar¬
'
least
a
tional trade
progress
of
now
must
tainly,
among
long
as
as
be possible.
Cer¬
the exchange of goods and services
the nations of the
artificial
a
foundation
as
is
world remains
now
the case,
subject to sudden change, sound world
form,
or
upon
as
and is
as
currency re¬
at least reform that gives reasonable
of permanency,
impossible.
assur¬
constructive
carry a
will take
a
sort
in
this
situation.
We
development of the unfortunate state of affairs
almost
from
vices.
to
our
we
bar
must
competitive goods of foreign origin
market
now
in early post-war years undertook
by
These steps,
a mat¬
the part of officials,
on
It is also
cases.
product
a
implanted in the minds
by constant reiteration by
over
are
not only fallacious
'.A:
economic system,
national.
minds to interfere
the natural forces which govern
Indeed, sound
currency
a
course,
relationships,
currency
make up our
enjoy the fruits of
including, of
we
very
sound world
sound inter¬
shall have
the activities of
relationships
to
much less with
man.
not likely
are
long to continue in the absence of sound economic
conditions
in
managed
trolled
We must choose, in other
general.
words, between real
currencies,
progress
correct choice
Choices
this
of
will
sort
and
economy,
Nothing short of
industry.
will meet the needs of the
the
and all such ideas
managed
a
as
con¬
clear-cut choice
hour, and nothing short of
lay
a
must,
basis for real
progress.
in
the last
moreover,
analysis be made by peoples themselves, not merely
by their representatives in the nations' capitals.
is for this
reason
and for others of
a
It
closely similar
regret that fundamental issues are being
inadequately discussed in this country
campaign
progresses.
The
as
necessary
the
cur¬
ground¬
work in public education is, we fear, not being done,
that the incumbent of the White
House and the
legislators holding office during the next four
whoever may
they
of
will have to begin from scratch after the
wear,
first
years,
be elected and whatever party labels
the
year
if real
progress
toward economic
soundness is to be achieved.
means
of
of tariffs and other de¬
course,
Federal Reserve Bank Statement
leading
substantial portion of the responsibility for the
existing since
be
will be difficult if not virtually
part in serious and persistent efforts to effect changes
a
■
If the world is to
It is most earnestly to be hoped that
American government officials
of
is not simply
course,
of doctrines which
men
be fallacious.
which interna¬
labor, and expressing hope that
may now
now
same seems to
but which have repeatedly been proved by history to
rent
in this direction
this, of
understanding
peoples the world
so
ance
Now all
distressing number of
public
so
restrictions under
Much the
a
an
French authorities, and may be true of
sort that we
of the
that
now
greatly aided by
of this country of the sort
of false ideas that have been
Washington concerning the need of lifting at
some
re¬
■
Statements have from time to time of late emanated
from
the part
on
true of the
the gold theoretically behind
defense, unavailable to
diffi¬
so
Progress in reaching normal currency re¬
by the President.
others.
con¬
although such lack of understanding is plain enough
Such, however, is far from the fact.
abiding
made it
lationships with the rest of the world
in
pious wish, theoretical computations
years
start has been made will not be
attitude
of
purpose
headway in the removal of trade
ter of lack of
Other Factors Involved
and
order, and the widespreadjreadiness
manipulation for the
trying to control domestic prices, that,
or
strictions.
In
Now it is just the
uncertainty of having currencies subject to change at
step through to a successful conclusion, and sufficient
?
domestic situation
our
of currency tinkering.
means
cult to make
ant purpose
only with the proviso that
protect
necessary,
standing of what is involved in carrying this first
support at home to accomplish this highly impor-
of
power
devaluation, and that he is willing to give
inevitably led to
re¬
BANKING statistics this tremendous scale mainly
week are affected and by
by gold imports
a
on
Treasury spending.
The monetary gold stocks of
the
country received an addition of $126,000,000 in
the
week
the result
tion
to
of
period.
Wednesday night, almost entirely
as
imports from Europe in the devalua¬
This increase raised the total monetary
gold holdings to $10,971,000,000, which is
a
hoard
Y? Financial
2258
before
never
since the
Excess
equaled in history.
banks
member
of
The construction group was the only division of
industry in which there were more failures than in
reserves
September, 1935; nevertheless, liabilities involved
slightly smaller. In the manufacturing divi-
Treasury reimbursed itself not only for all
the immediate
Oct. 10, 1936
by this addition,
stimulated
were
Chronicle
gold acquisitions but also for soihe of.
were
The Treasury de-
sion, however, in spite of a 25% reduction in fail-
posited |143,198,000 gold certificates with the Fund
ures,the involved liabilities were considerably larger
the
metal
of the 12
paid for previously.
banks, and thus prevented a too rapid degeneral account with the Reserve
pletion
of its
banks.
Although the increase of member bank bal-
ances
modified
was
forms of money
000,000,
play
71 last September and $1,511,000 liabilities in com-
estimated
were
Oct. 7 to be $1,950,-
on
come
There were 43
ber, 1935, 143 failed for $2,840,000.
It is quite
time to
some
relatively small role in these statistical
a
In the
wholesale line there were 69 failures compared with
parison with $1,836,000. 107 companies failed in the
manufacturing division for $3,212,000; in Septem-
likely that gold movements for
will
failed with $3,391,000 liabilities while last year 489
firms failed with liabilities of $8,539,000.
legal
excess reserves over
$110,000,000 for the week.
up
The most marked improvement was
year.
$121,996,000 in the weekly period.
find that
we
requirements
rise of $39,000,000 in all
a
in circulation, such balances never-
theless increased
Accordingly,
by
than last
in the retail trade division; here only 328 firms
construction failures with $1,148,000 liabilities corn-
pared with 38 failures for $1,185,000 last year.
In
reports, since the old gold standard now is com-
the service group 39 firms failed this year and 46
international
last; liabilities were but $557,000 this year while
pletely
everywhere
suspended
and
monetary control subjected to the caprices of a few
The various stabilization
high-placed individuals.
funds,
which
for
account
000,000 of the
money
approximately $5,000,-
of the people in the United
States, Great Britain, France, Holland and Switzerland,
to
being operated in the deepest secrecy
now are
manipulate exchanges, and if monetary history
teaches
anything at all, then such control should
last year they wTere $2,602,000.
In every Federal Reserve district there
wTere
fewer failures in September, 1936 than September,
1935. However there was an increase in liabilities
this year over last in the Chicago and San Francisco
districts and nominally in the Richmond District.
In the other districts liabilities were smaller. This
was notably the case in the New York District
but the demand for hand-to-hand currency caused a
where 186 firms failed for only $3,825,000 in cornparison with 235 failures with $9,377,000 liabilities
in September, 1935. There was a similarly sharp
improvement in the Philadelphia District.
recession of money
-
be
regarded
as
highly unfortunate.
Increase of the gold
certificate holdings of the 12
banks raised that fund to
vanced
in vaults, and total
on
Oct. 7,
reserves
culation
Federal
increased
deposits
were
in actual cir-
reserve notes
$26,581,000
$4,077,724,000.
to
$102,639,000
up
to
$6,946,-
151,000, with the variations of the individual
counts
quite interesting.
advanced
the
general account dropped $56,951,000
$195,786,000;
foreign
bank
$22,445,000 to $74,395,000,
balances increased
huge gain in
note
and
to
Discounts
$15,149,000 to $197,022,000.
reserves
79.8%
on
reserve
Oct. 7 from 79.5%
industrial
and
$1,003,000 to $27,142,000'.
in
The
overshadowed the increases of
ratio
Sept. 30.
on
by the System fell $1,912,000 in the week
$7,539,000,
were
deposits increased
and non-member bank
deposit liabilities, and the
moved up
to
ac-
Member bank. balances
$121,996,000 to $6,478,948,000; Treasury
funds in
to
ad^
advances
were
off
Open market operations
complete suspense, with bankers' bills again
reported at $3,098,000, while United States Government
security holdings held to $2,430,227,000.
v>
*
Government Crop Report
TPHE government's crop report as of Oct. 1 raises
*
^be estimated corn crop to 1,509,000,000 bushe*s ^rom 1,458,000,000 bushels on Sept. 1. The 1935
harvest, however, yielded 2,291,000,000 bushels, and
^be five-year average [1928-32] was 2,553,000,000
bushels. Estimates of spring and winter wheat are
reduced 3,000,000 bushels in the case of the former
and remain the same in the latter instance. The
present forecast is for a crop of 519,000,000 bushels
of winter and 168,000,000 bushels of spring wheat,
^be ^wo t°faEng 627,000,000 bushels, which is only
trifle over last ^ar's harvest of 623,00,000 bushels,
but is wel1 below tbe fiv*year average [1928-32] of
a
863,000,000 bushels. As a result of the small crops
^be Pas^ two years, farm stocks of wheat on
were only 227,098,000 bushels, which cornPares with 267,972,000 bushels on Oct. 1, 1935, and
408,268,000 bushels average for five years [1928-32].
^be
Per acre °f a^ wheat is placed at 12.3
bushels, the
Business Failures in September
n
^
only $133,819,000 in the weekly period to
$8,792,375,000.
Total
$8,527,881,000
higher
same as on
than
1935;
Sept. 1, and only fractionally
the 10-year
[1923-32]
COMMERCIAL failures excepionally small, other yield, however, was 14.4 bushels,
ill September, as in and
months,
The
due to the
recent
are
corn crop was,
again it is necessary to look back to 1919 for lower
figures.
This fact is
more
considered that failures in
of any year
only 2
years
in that
same
and the current
ber rains which followed the'
the smallest
period
were
liabilities
September failures in the
that month
failures which compares
in
September, 1935.
somewhat
an
there
exception, at
were
but 586
with 655 in August and 787
Liabilities of $9,819,000
were
larger than the August total of $8,271,000
but
sharply reduced from the $17,002,000 of September, 1935. In 1919 473 firms failed for $8,791,000.
summer.
late growing
sea-
to benefit from the Septem-
earlier
were
September is not
In
crops
noteworthy when it is
past have frequently been the lowest of the year
least to date.
of the few
1919
in the period starting with 1894 and in
smaller, 1899 and 1905.
son, one
average
severe drought of the
Consequently, the
corn
forecast
was
raised 51,000,000 bushels, and condition of the
crop
improved
so
that
on
Oct. 1 it
was up
to 45.3%
of normal from the Sept. 1 condition of only
which
was
the lowest figure for that date
The present indicated yield
is
an
on
improvement
Sept. 1, but
over
compares
per acre
40.5%,
on record,
of 15.3 bushels
the 14.8 bushels indicated
with 24.0 bushels in 1935
and 25.4 bushels average for the 10 years [1923-32].
Little
was
or no
change from the September estimates
made in the other
been made
are
crops.
What changes have
nearly all upward.
Tobacco is
now
Financial
143
Volume
.1,152,000,000 pounds, 10,000,000 pounds
estimated at
higher, "and oats at 783,000,000 bushels, an increase
of
7,000,000 bushels.
Government Cotton Report
2259
Chronicle
trial issues were chiefly in demand, but railroad
and utility stocks also improved. When trading
was resumed for the week, on Monday, further
initial gains were recorded in almost all groups.
They were modified, however, by profit-taking on a
THE Oct. I report of the Department of Agricul- considerable scale, and closing levels of most issues
places the 1936 cotton crop at 11,609,000
not greatly changed. Various individual favorture
were
bales, an increase of 488,000 bales since the report
of the first of
as
The fact that ginnings
September.
to Oct. 1 have actually amounted to 6,030,940
up
bales which is
52% of the
based on the present
crop
estimate, and compare with average ginnings as of
the
date in the past ten years
same
of about 43%
harvest, is taken as an indication in
of the actual
quarters, that the present crop estimate is too
some
However, it should be noted that in 1934
small.
swing
was
resumed
in better demand than others,
were
at
tops
of the session.
"The crop
has opened rapidly and at present a
larger than usual amount of open cotton is exposed
possible loss from storms."
upward revision of the crop estimate was the
result of
in all
rains
improved weather conditions in September
parts of the cotton belt except Texas where
too late to be beneficial and the estimate
came
State
for the
reduced
was
131,000 bales from the
The condition of the entire crop was
Sept. 1 figure.
61.8 of normal on Oct. 1
Sept. 1; the yield
compared with 59.1% on
is
per acre
now
indicated
as
186.9
pounds in comparison with only 179.2 pounds on
Sept. 1;
1935
Aug 1, prior to the drought damage, it
on
high ap
as
was
continued
period of realiza-
Utility stocks forged ahead most
this occasion, apparently because rumors
AdministraOther
stocks also improved, and most changes at the end
were favorable to holders despite the terminal liquidation. The advancing tendency was resumed on
Thursday, with one group after another taken in
hand and pushed upward. Railroad issues especially were in demand, owing to the C. & O. dividend
increase and the proposal by that company to issue
preferred stock in adjustment of its capital structure. Increases again occurred yesterday in almost
all groups. Railroad and industrial stocks vied for
were
current of a modification of the
tion's Tennessee Valley Authority program.
report:
The
Improvement took
until late in the day, when another
on
with rails
and closing figures
place broadly early on Wednesday, and it
rapidly
to
Tuesday in a more impressive
fashion, with net gains of 1 to 3 points common,
tion developed.
ginning process this year as, according to the
on
The advance took in all classes of issues,
52.5% of the crop had been ginned at Oct. 1 and
the
The up-
speculative and investment interest.
to
there would appear
to be good reason for hastening
however, in response
ites moved up 1 to 6 points,
186.3
was
the 10 years
The actual yield per acre in
199.7.
pounds, and the average yield for
1923 to 1932,
was
the leadership in the upswing, while utility shares
also tended to improve.
In the listed bond market most attention was
United States
centered on the speculative issues.
Government obligations and the highly-rated corporate obligations hardly varied at all. But secondary
and reorganization railroad bonds advanced impres-
169.9 pounds.
_
The New York Stock Market
sively in session after session, and many industrial
SHARPLY advancing quotations were the with issues gains. aRailroad holding bonds advanced senspeculative tinge likewise showed
York
market, rule
sharp with
this week
the
stock
the New
on
gains interrupted only momentarily, at times,
by realization selling.
The movement was the most
sationally after the C. & O. announcement, since
they are all affected by the activities of that carrier,
pronounced in months, and it was accompanied by a
In the foreign section a sharp reversal was noted
decided increase of turnover.
in French
Hundreds
moved to best levels of the year
of stocks
and the movement,
bonds, owing to apprehensions that serv-
ice will be met in present devalued francs rather
and
prominent average calculations reflected the
than in the gold equivalent of the
best
figures in five
French
Quite
years.
a
few individual
stocks showed best levels since 1929.
contributed to the
buying, of
possible that devaluation
of
inflationary
readily
dence
absorbed,
in
the
were
The
in grains, cotton, metals and other items left prices
new
offerings
because sterling exchange was permitted by the vari-
confi-
Trade reports
campaign exercised
been
demonstrated
election years are not
Turnover
of
change,
traded
was
full
the
in
while
on
of
on
more
many
no
level of approximately $4.90.
occasions that
2,000,000 shares in each
the
than
New
3,000,000
Wednesday, which
day since Feb. 20 last.
York
was
Stock
shares
were
of 1 to 3
market
dend of 50c. a share plus a regular quarterly of
exceed-
on
sweeping lines last Saturday, with gains
common
was
in leading issues.
As the
close to highs of the year, these
gains sufficed to produce nearly 100 highs.
German marks
firm.
Of interest during the week was the declaration
25c.
Indus-
a
share on the common ^stock, both payable
Nov. 2 ; the company paid a dividend of 25c. a share
on
points
already
cated by the recent devaluations.
were
were
upward movement of quotations started
broad and
Swiss
by the Lehigh Portland Cement Co. of an extra divi-
ingly active.
The
French and
francs, guilders and lire were held to figures indi-
Ex-
the most active
Bonds also
But sterling attained
relative stability in the latter part of the week at a
necessarily market bugaboos^
excess
sessions
on
stabilization funds to slip steadily lower in the
ous
early trading of the week.
ex-*
restraining influence, which is not surprising, for
it has
Foreign
exchanges attracted much attention, particularly
in line with seasonal
political
not much changed for the week as a whole.
But
relative
situation.
monetary
mildly
were
and it is quite
dominant.
indicates
pre-devaluation
markets
irregular, but the alternate upswings and recessions
steady, and
which
reflect moderate progress
pectations.
were
Commodity
Many factors
of currencies and fears
tendencies
high-grade bonds
course,
unit.
Aug. 1, 1936,
the first since recapitalizing in
March last; prior thereto the last previous distribu-
tion on the common stock was 25c. a share, made
on
May 1, 1931.
In addition, the (S. H.) Kress &
Co. declared an extra dividend of 25c. a share and
an
initial quarterly distribution of like amount
on
Financial Chronicle
2260
the
and
new
larger number of common shares now
outstanding, both payable Nov. 2 next.
recently split
was
the
The stock
two-for-one basis.
on a
Prior to
split-up dividends of 50c. a share regular and
50c.
share extra
a
On
New
the
touched
new
touched
paid
were
York
on
Stock
Aug. 1 last.
Exchange 221
stocks
high levels for the year while 17 stocks
new
the New York
On
levels.
low
Curb
Exchange 140 stocks touched new high levels and
18 stocks touched
the New York Stock
at
Call loans
low levels.
new
on
Exchange remained unchanged
1%.
On the New York Stock
half-day session
shares;
on
Exchange the sales at the
Saturday last were 1,632,260
on
Monday they were 2,082,180 shares;
Tuesday, 2,257,990 shares;
shares;
on
on
Wednesday, 3,027,400
on
Thursday, 2,226,580 shares, and on FriOn the New York Curb Ex-
day, 2,235,490 shares.
change the sales last Saturday were 369,390 shares;
on
Monday,
shares;
on
502,'005 shares;
on
Tuesday, 522,840
Wednesday, 659,369 shares;
day, 546,530 shares, and on Friday,
on
The stock market this week moved with
and
spirit that has long been lacking.
confidence in French monetary
an
affairs and the
in strong trading to establish
on
larity caused by profit-taking
prices
were
was present at some
little affected thereby and closed yesterover
the close
on
Friday
General Electric closed yesterday at
of last week.
48% against 463%
on
Co.
Edison
Friday of last week ; Consoli-
of N.
Columbia Gas & Elec. at
Service
new
Irregu-
during the week, but for the most part
day with substantial gains
dated
con-
industry
high peaks for the year in many issues.
sessions
energy
Returning
tinued favorable outlook for business and
spurred prices
Thurs-
530,350" shares.
of N.
J.
at
Y.
at
44% against 43%;
20% against 20%; Public
47% against 46%; J. I. Case
Threshing Machine at 159 against 158;
tional Harvester at
Interna-
88% against 86; Sears Roebuck
& Co. at 91
against 89; Montgomery Ward & Co. at
52% against 49%; Woolworth at 57% against 533,4,
and American
Western
88%
on
at 233
168
& Tel.
Tel.
Union
closed
at
178% against 175%.
yesterday
at
88% against
Friday of last wMry Allied Chemical & Dye
against 227%; E. I. du Pont de Nemours at
against
163;
National
Cash
Register
at
28
against 26%; International Nickel at 62% against
61%; National Dairy Products at 25% against 25 ;
National
Biscuit
at
303^ against 30; Texas Gulf
Sulphur at 36% against 363,4; Continental Can at
72% against 70%; Eastman Kodak at 175 against
169% bid; Standard Brands at 16 against 15%;
Westinghouse Elec. & Mfg. at 150% against 144;
Lorillard at 23% against 23; United States Industrial Alcohol at
37% against 35; Canada Dry at 19 '
against 18%; Schenley Distillers at 50 against 51%,
and National Distillers at 30
The steel stocks
the week.
were
against 30.
strong and closed higher for
United States Steel closed
yesterday at
35%, and B. F. Goodrich at 24% against 23. The
railroad shares made further gains this week. Pennsylvania RK. closed yesterday at 40% against 39%
on Friday of last week; Atchison Topeka & Santa
Fe at 80% against 81%; New York Central at 48%
against 46%; Union Pacific at 139 against 138;
Southern Pacific at 46% against 45%; Southern
Railway at 25 against 23%, and Northern Pacific
at 28% against 28%.
61% on Friday of last week; Shell Union Oil at
23% against 24%, and Atlantic Refining at 28%
against 28. In the copper group, Anaconda Copper
closed yesterday at 41% against 39% on Friday of
last week; Kennecott Copper at 52% against 50%;
American Smelting & Refining at 89 against 83%,
and Phelps Dodge at 40% against 39%.
Trade and industrial reports suggest a good
maintenance of the Nation's business and seasonal
improvement in some respects. Steel ingot production for the week ending today was estimated by the
American Iron and Steel Institute at 75.3% of
capacity against 75.4% last week and 49.7% at this
time last year. Electric power production for the
week ended Oct. 3 amounted to 2,169,442,000 kilowatt hours as compared with 2,157,278,000 kilowatt
hours in the preceding week and 1,857,470,000 kilowatt hours in the corresponding period of last year,
Car loadings of revenue freight were reported by
the Association of American Railroads at 819,126
cars for the week ended Oct. 3.
This was a gain
»f 12,056 cars over the preceding week and of 113.152
cars over the corresponding week of 1935.
As indicating the course of the commodity markets, the December option for wheat in Chicago
closed yesterday at 115%c. as against 114%c. the
close on Friday of last week. December corn at
Chicago closed yesterday at 96%c. as against 94%c.
the close on Friday of last week. December oats at
Chicago closed yesterday at 413%c. as against 41%c.
hid the close on Friday of last week,
The sPot Price for cotton here in New York closed
yesterday at 12.29c. as against 12.53c. the close on
Friday of last week. The spot price for rubber
yesterday was 16.50c. as against 16.40c. the close on
Friday of last week. Domestic copper closed yesterday at 9%c., the prevailing quotation on Friday of
previous weeks.
In London the price of bar silver yesterday was 20
Pence Per 0lmce as against 19 15/16 pence per ounce
on Friday of last week, and spot silver in New York
closed yesterday at 443,4c., the close on Friday of
hi si: week.
In the matter of the foreign exchanges, cable
transfers on London closed yesterday at $4.90% as
against $4.93 3/16 the close on Friday of last week,
and cable transfers on Paris closed yesterday at
t.G7c. as against 4.66%c. the close on Friday of
,
hist week.
European Stock Markets
•
at
yesterday at 34% against 35
on
Friday of last week;
70%; Chrysler at
General Motors at 71% against
126% against 125%, and Hupp Motors at 2 against
2%.
In the rubber group, Goodyear Tire & Rubber
closed yesterday at 27% against
24% on Friday of
last-week; United States Rubber at 37% against
Among the oil stocks, Stand-
ard Oil of N. J. closed yesterday at 64% against
™1/2, af iTas/73against 114%; Bethlehem Steel at
°n F/ifiaL0f
rkInifnd
Steel
114%
74% against 71%; Republic Steel at 25% against
24%, and Youngstown Sheet & Tube at 87 against
81%.
In the motor group, Auburn Auto closed
Oct. 10, me
DRICE trends on stock markets in the principal
European financial centers were highly unset-
*
tied this week, owing to the immediate reactions to
the gold bloc devaluations and the subsequent
nouncement of lira depreciation by Italy.
an-
The Lon-
don Stock Exchange was firm in most sessions, ala little uncertainty was caused late in the
though
week by the Russian attitude
and the fear that
new
on
Spanish neutrality
international complications
Volume
Financial
143
In France the initial trend was to-
might develop.
enormously increased price levels, in reflection
ward
of
the change
wrought by franc depreciation, but
mid-week
after the
prevailed
quieter
conditions
period.
Indicative of the rapid restoration of stable
2261
Chronicle
of the changes in French equities were toward lower
International securities were in excellent
demand, with gold mining stocks the favorites. Busi-
levels.
brisk on the Paris market, Wednesday, but
profit-taking again modified the huge gains of the
ness was
post-devaluation
Eentes
period.
conditions in France yvas the reduction of the Bank
immediate
of France discount
rate, Thursday, to 2%% from
marked fractionally lower, while French equities
On the Berlin Boerse, prices moved alternately
ginning Sept. 25, and it was noted that equities of
International securities
The opening on Thursday was uncertain, and prices were inclined to drop
for the session despite the reduction of the Bank
rate.
Rentes and French equities drifted downward, but international securities remained in favor,
all kinds
Uncertainty again
3%.
upward and downward, with the trend influenced
in
part by rumors that early devaluation
mark
of the
Stock exchanges in Italy opened
impends.
Wednesday, after
in keen
were
demand, although
material
no
selling of fixed-interest obligations resulted.
these
With
adjustments to the new monetary situation in
throughout Europe,
progress
the tendencies
Dealings
cited
last
were
favorable.
.
was
buying and home rail stocks also advanced.
all the industrial issues
stocks
were ex-
resumed for
British funds reflected good investment
the week.
subjected
were
American
Almost
in demand, but a few
were
profit-taking.
to
Anglo-
trading favorites were particularly active
strong, owing to the week-end reports of a favor-
tivity
Continued
York.
able nature from New
was
somewhat
not
much
British funds
uncertain.
more
Home rails
changed.
industrial issues showed
while
good
ac-
noted at London, Tuesday, but the tone
was
were
again advanced,
International
at first
profit-taking, but in the late dealings they
tions
funds
issues
Boom conditions
London
the
were
marked
lower
prevailed in
some sec-
market, Wednesday.
British
steady and home rails again advanced,
were
Most interest
trial
prices for gold in the auction
higher in reflection of the sharp advances in
of
was
taken, however in British indus-
stocks, which advanced sharply on
a
statement
by the Chancellor of the Exchequer that the British
business
improvement is soundly based.
the Soviet protest against Fascist
as
plies to Spanish rebels had
a
regained in a final rally.
Clos-
losses, but it was evident that the Boerse desired
a
clearer view of German monetary policy.
income securities were quiet but firm.
FixedThe belief
began to spread, Tuesday, that formal devaluation
by the Reich is not far away, and holders of securities showed no inclination to sell. There was little
urgent buying, however, and in most instances
stocks closed slightly higher. Some of the more
prominent speculative obligations advanced a full
point or more. Fresh buying came into the German
market, Wednesday, and it was traced in part to
the holders of blocked marks, who sought in this
to offset any devaluation of the official
sup-
sobering effect, while
British
profit-taking also appeared.
dull, while small gains and losses
and industrial issues.
gains of
a
point
or
two were common.
The upward
tendency was resumed on Thursday, with tradingon the increase, partly because the rumors of formal
devaluation were more numerous. Raw material
issues were in best demand, but heavy industrial
stocks gained as a group and others also were better.
Fixed-interest obligations were firm but quiet,
Profit-taking developed at Berlin yesterday, and
losses were general but small,
funds
Currencies and Trade
up-
A spirit of caution prevailed Thursday at
London,
The trend at Berlin was uncertain last Monday,
as initial losses were
Gold min-
ing stocks and international issues joined in the
swing.
Rentes
international
German currency. Heavy industrial stocks were in
keen demand, but other also reflected inquiry, and
market.
New York.
but
manner
on
moved
general yesterday.
receded,
gains and losses in
advanced
on
was
and French, equities
issues advanced.
Gold mining issues
approximately equal numbers.
better
remained in keen demand.
ing quotations showed more fractional gains than
J
_
the London Stock Exchange
on
Monday, when trading
drifted downward as well.
attention
not much
paid to the course of trade and industry, but
was
and
on
suspension that was ordered be-
a
were
T3 APID adjustments to the new monetary situa-
f\
tion created
were
made this week by Italy and Czechoslovakia,
by
the gold
bloc
devaluations
were
Italy announced last Monday a devaluation of the
were noted among
lira by 41%, which reestablishes precisely the dollar-
home
rail
gold mining
lira ratio obtaining from the time of Italian stabili-
group
tended to ease, and international issues like-
zation in 1927 until the Roosevelt Administration
wise
were
marked lower.
The
Gilt-edged issues reflected
began to tinker with the dollar in 1933.
good buying yesterday, and gains also were recorded
Slovakia ordered
in most industrial stocks.
crown
showed continued
Dealings
International securities
strength.
Monday, the effects of franc devaluation.
advanced 30 to
ancl
40%
stocks
some
over
about
remained
unquoted owing to the
were
freely the previous Friday at advances of
settlement
was
for the carryover
September.
doAvn
Rentes, which
10%, held to the better levels, and in
instances the advances
end
Equities
the pre-devaluation figures,
official limitations of advances.
traded
on
to
regular
effected
extended.
The month-
belatedly with money
at 4%%, against 2%% in mid-
On Tuesday the Bourse began to settle
more
as
were
some
normal
trading, Avith the trend ir-
buyers and sellers finally began to meet
each other-s vieAvs.
Rentes eased
a
little, and most
seem
Tuesday
Czecho-
devaluation of the
a
by 10.6 to 15.98%, the precise figure between
these limits
the Paris Bourse reflected fully,
on
on
not being fixed.
These
moves
would
to compete, for the time being at least, the
formal adjustments of important currencies.
Con-
siderable fluctuations remain possible in the floating units, such as sterling and guilders, which are
not subject to limitations fixed by statute, but cornmon sense can
be expected to prevail in the manage-
ment of such currencies.
that the
It is quite clear, however,
present monetary situation still is in the
nature of an armed truce,
Avas
made additionally clear
and that circumstance
on
Tuesday by Presi-
dent Roosevelt.
In the
course
of his customary press conference,!
Mr. Roosevelt indicated that in the event of his
election, he will ask Congress for
an
re-
extension of
Financial
2262
delegated to him by
the control
over
that
The legal authority of the President to
body.
the currency
devalue the dollar up to
pires
50% in terms of gold ex-
Mr. Roosevelt expressed the
conference that this power
Jan. 30,1937.
on
conviction in his press
be
extended, in order to protect our price
level from
unexpected action on the part of another
should
nation
that
pears,
He also uttered the hope, it ap-
nations.
or
use
of the power will not again be neces-
which makes it possible that the American
devaluation will halt at the level of 59.06% of the
sary,
former
gold content
No less sig-
prevalent.
now
nificant than the Presidential
intimation, but
more
encouraging to proponents of really sound monetary
policies, is
declaration made in London, Tuesday,
a
by Chancellor of the Exchequer Neville Chamberlain,
In
address at the annual Bankers
an
Chamberlain stated that he
a
return to
monetary stability, but resumption of
He expressed great satis-
convertibility into gold.
faction
Dinner, Mr.
anticipated not merely
regarding the French devaluation and the
various steps already taken
riers.
The
for reducing tariff barreached
understanding
Britain,
by
France and the United States also received
praise,
the
units
standard
monetary
the only basis
on
to give general confidence."
countries which
their
devalued
circulating
during the last two weeks already have taken
steps to diminish the trade barriers set
dollar
sterling and
ward
of decrees
and
to
France took the initiative in
discrepancies.
this connection
by publishing last Satrday
suppressing
more
reducing the tariffs
20%.
Import license fees
taken with
a
were
articles by 15%
cut and
view to the internal
a
study
These
steps
situation, in
redemption of: Premier Leon Blum's promise to
vent
pre-
price increases because of the franc devalua-
tion, but they remain of primary international importance
well.
as
designated
ization."
a
The French
"prelude to
a
was
move
officially
general customs demobil-
Compensatory surtaxes collected
on
im-
ports from countries with devalued currencies also
were
eliminated, with the exception of rates against
China and
Japan.
The revision
sweeping and inclusive.
lira the
the
move
was
countries
authority
exceptionally
accompanied by elimination of
was
with
given the heads of various
departments to
duties
as
they think
made known
on
been abolished
many
on
goods
depreciated currencies, while
ment
modify
proper.
all
other
reduced
on
Lira and
Slovakia
the
were
devaluations
effected
methods
Italian action
foodstuffs,
only after considerable study,
accompanied by
measures
The
that
necessarily will affect the entire economic life of
the
country materially.
attitudes of leading statesmen continue to
a conflict that looms
reflect the preparations for
more
and
more
In all parts of the world
clearly.
these arrangements
are
in
progress,
and
recent
some
incidents suggest that the United States
soon
must
precise diplomatic and military
course
in the Pacific than has prevailed in recent
years,
adopt
a more
The approaching termination
of the Washington
and London naval accords brought
up
the question,
this week, of fortifications and naval bases in the
Pacific.
It
was
disclosed
on
Wednesday that the
British Government had proposed to the United
States and Japan
a
continuation of the non-fortifi-
cation clauses relating to the Pacific.
Washington and in Tokio it
no
was
Both
in
made evident that
formal decision has been reached,
with fortifications," and "one
with another menace."
as
yet,
on
this
The gold content of the lira
menace must be met
In Tokio only unofficial
comments were available, but they reflected a desire
to modify the treaty particulars with regard to
fortifications
by Italy and Czecho-
pursued reflect this fully.
was
O APID increases of armaments and the bellicose
JE\
ton, Wednesday, that "fortifications must be met
and agriculturists.
crown
Armaments and More Armaments
govern-
The Swiss Government
18 classes of
.
customs
Wednesday that import duties had
or
was announced, and all owners of real estate were
required to subscribe to an amount equal to 5% of
assessed valuations. This "loan" actually amounts
to simple confiscation, for the real estate tax was
raised at the same time by 3% lire per 1,000 for
amortization of the loan. Proceeds of the loan will
be used for national defense and the development of
the newly-extended colonial empire. The government also abolished a decree adopted a year ago
whereunder limited liability companies were prohibited to distribute as dividends more than 6% on
highly important matter. Secretary of the Navy
Claude A. Swanson merely remarked in Washing-
of them of considerable importance to Amer-
ican exporters
and
was
When Italy devalued her
compensating duties applied after 1931
from
eling costs and public utility charges may not be
raised for two years. A loan bearing 5% interest
series
a
than 100 import quotas
on many
started for tariff revision and control.
were
capital. It was provided that goods may not be sold
at higher levels than those prevalent at the end of
September, while rents, hotel accommodations, trav-
advances,
"managed currency"
Meanwhile, it is satisfactory to note that most
of
published, which are designed to prevent price increases and to furnish the State with badly-needed
awk-
a
on
basis, and declared that he looks forward to "an inwhich appears
In this respect, also, the Italian procedure
apparently was based on the pattern furnished by
the United States.
But additional decrees were
after
that Britain will remain
ternational
way.
up
unfounded, however, the various reports
as
reduced by 40.93%, which corresponds almost
eractly to the degree of dollar devaluation, but the
right was reserved to alter the value by 10% either
devaluations occasioned
He dis-
pact places no restraints on sterling.
missed
was
Oct,• 10> 1936
capital. Under the new regulations unlimited dividends may be distributed, but payments in excess
of 6% are to be taxed on a sharply ascending scale,
A government statement urged the abandonment of
temporary measures and The adoption of permanent
ones to insure world recovery.
Premier Mussolini
allied himself "in principle" with the British,
French and American declaration for monetary stability. Czechoslovakian devaluation was a relatively simple affair, but Prague dispatches state
"that the government took steps against sudden price
although Mr. Chamberlain carefully explained that
the
Chronicle
on
islands close to Japan, which
reasonable enough.
It is plain that
seems
a reasonable
settlement of this problem by negotiation is infi-
nitely preferable to headlong construction of naval
bases and forts.
In Europe the tendency toward increases of
arma-
ments of all kinds remains all too apparent, and it
is
2263
Financial Chronicle
143
Volume
.League of Nations
equally perturbing to note that efforts to arrange
The
pacts are meeting with little success.
peace
ACTIVITIES at Geneva, where the League of Na-
/\
long-proposed and constantly deferred five-Power
conference for a treaty to replace the Locarno pact
to have little
seems
now
prospect of ever material-
Great Britain
entirely of committee
almost
They served to emphasize the growing
impotence of the
longer insists upon Kussion par-
no
week
this
meetings.
It was indicated in London last week that
izing.
session,
tions Assembly and Council are in
consisted
Having tried to
Com-
organization.
placate the Nazis by recalling the League High
ticipation, but this Concession to German views lias
missioner to Danzig, Sean Lester, the
In a Berlin dispatch of Monday to the New York "Times" it was
stated that the prospects for the conference are fad-
Monday adopted a resolution asking Poland to put
not
yet brought Berlin around.
quarters that Italian currency devaluation
some
constituted
"rebuff" to
a
a
Keich that does not yet
fit to enter the formal currency
see
devaluation race.
reports of Wednesday intimated that Foreign
Rome
Minister Galeazzo Ciano soon will visit the German
the
to
The Danzig
League official.
Nazis promptly
such matters, notwithstanding suggestions
to eye on
end to the obstructions offered by the Danzig
Government
Germany and Italy obviously see eye
ing rapidly.
in
au
Council last
p0iand that
'
ference..
erai
served notice on the League and
they do not intend to tolerate any inter-
Premier Leon Blum of France spent sev-
daj,g jn Qeneva, and when he left last Satur-
<iay; the empression prevailed that France would
uphold the Geneva organization and the
continue to
system of alliances by which it was sought to en-
capital, partly to reassure German opinion regard-
circle the Reich.
ing continuance of the Italo-German rapprochement
ment, Commission met on Menday for the first time
of recent months.
in four years
maneuvers
pean
all
to
overtone
constant
Tlie
is furnished by the
such
diplomatic
ever-increasing Euro-
armaments and the frequent assertions of prethe nature of challenges at
assume
The Ger-
times.
Ministry disclosed last week that the
War
man
which almost
strength,
military
and
paredness
already has attained the organization of 12
Reich
which was the goal set in March, 1935.
further stated that the troops occupying the
army corps,
It
was
Rliineland
demilitarized
former
zone
have
been
tion of
reached
ship, the tonnage contrasting with the 10,000-ton
limitation of the Versailles treaty.- Russia made
known, Monday, that a naval building program
has been started which
Assembly functioned
and France,
jointly, proposed
0f general international
0f relaxing
an
seas
in which
we may
takes
be
address before
Conservative gather-
a
the British rearmament program,
on
"When that program
completed we shall have a navy adequate t0 pro-
tect
vital lines of
our
have
an
communications.
armies of the Continent,
with the most modern weapons
us,
We shall
trifling in numbers beside the vast
army
conscript
but equipped
that science can give
and we shall have an air force which, in speed,
range
and power of the machines and quality of the
Mr. Chamber-
personnel, will be second to none."
lain admitted that the
to
by Chan-
Exchequer Nevills Chamberlain, in the
Mr. Chamberlain remarked:
is
realistic view of the
a
made evident late last week
Dilating
ing.
extent
some
Spain and the Neutrals
rebels continued'
\V7HILE loyalists and
W
development of aviation has
deprived Great Britain of her insular
week
0ped this
Charges made by the Spanish Government
rebels.
at Geneva last week
tion of
our new
a
such
terrific
air force will possess."
was
These allegations, published
Italy and Portugal.
independently of the League at Geneva, were apparently well supported
graphic
evidence.
by documentary and photo-
a
group
trialists in Rome.
striking
anarchy," he said.
authorities
com¬
plained that the embargo by the so-called neutrals
0n arms
shipments to either side
appears
to be work-
illg only against the loyalists, and not against the
rebels.
hand in
The
this
Soviet
Russian
situation
Government
Wednesday
on
took
when
a
its
Charge d'Affaires at London presented the Neutral-
ity Committee there with
n0
longer
would
agreement not to supply
tory Powers ceased
warning that Russia
a
consider
herself
bound
by the
unless other signa-
arms
their violations of the terms,
The Soviet note recounted the more important violations of the neutrality
understanding listed by the
Another note, delivered to the
on
Thursday,
charged the
Portuguese Government particularly with evading
the accord and demanded that
an
impartial
com-
power as
mission be sent to the Spanish-Portuguese frontier
The fatalistic view
to investigate the true state of affairs and prevent
a
conflict is inev-
further
infractions.
It
was
generally feared in
Europe that the Russian challenge, it met with equal
of Italian farmers and indus-
truculence by the Fascist Powers, will involve the
"We
cisive conflict between
few
Madrid
The
address which
reflected, Tuesday, in
he made to
sug-
a
might be followed by the retalia-
force of
of Premier Benito Mussolini that
itable
Chancellor
thought that within
the effect that the
to
were
receiving ample materials from Germany,
are
Neutrality Committee
hours his action
the Socialist and Fascist
among
against his neighbor the British
sobering
their
fighting in Spain, increasing friction devel-
Spanish authorities.
"the
a measure
controls,
security, but to any ruler contemplating aggression
gested
Tuesday
on
cooperation with the aim
abolishing the systems of quota
and
and exchange
rebels
That Great Britain
of
smoothly
piy 0f airplanes and munitions in the hands of the
compelled to act."
cellor of the
more
The Soviet program
and conditions in different
course
little
a
sections, largely because Great Britain
than other
Powers of Europe with regard to the plentiful sup-
huge fleet designed for specific needs
was
was
promises to make that coun-
try a first-class sea power.
situation
decision
The Economic Committee
deai -with this problem.
0f (]le
the
and
still another commission to
establish
to
The ques-
discussed by the Steering
was
Wednesday,
Committee,
by the Reich, last Saturday, of a 26,000-ton battle-
calls for "a
but accomplished nothing.
League reform
No less startling is the launching
doubled of late.
it
The Assembly's Third, or Disarma-
are
an
at the dawn of
a
de-
representatives of order and
Continent in still another of its interminable
scares.
war
The Portuguese Government muddied the
international waters further, yesterday, by instruct-
2264
Financial
ing its representative at London to bolt the
mittee session.
The
considered
was
com¬
impression prevailed that this
preferable to answering the charges.
Chronicle
Oct. 10, 1936
being furthered, meanwhile, by dis¬
the Americas is
Washington between representatives of
cussions in
Ecuador and Peru
regarding
long-standing boun¬
a
More dis¬
Italy complicated the matter further by charging
dary dispute between these countries.
the
tantly, however, trouble looms on the horizon, for
Soviet
Madrid
The
rendering aid to the
Chaco peace
loyalists.
struggle in Spain has taken
of
ance
Government with
claims
of
time
the
great successes still
both sides.
tried to
for
stalemate
a
From
the
on
being, although
being made by
are
north, west and south the rebels
continue their
encircling movement about
Madrid, but the loyalists apparently
with
now
fighting
are
greater determination and under
skilful
command.
ported
on
Socialist
The
militia
Monday to have retaken
into
a more
.was
A
sections, with
move¬
either side.
rear on
reported
were
miles
But the revels in the
The
'"big push"
sector
was re¬
Wednesday, but the
on
troops admittedly were having difficulty with
organized and peasant attacks on their
Airplane attacks
plentiful, and
some
rear
guards.
Madrid by rebel fliers
on
were
reports indicate that the civilian
population of the capital is beginning to seek safety
elsewhere.
to
be
The
Spanish Government also is reputed
sending the large Spanish gold
Catalonia
Some
and
to
even
France,
for
interesting rebel statements
aims
were
made, but they
General Francisco
as
safekeeping.
in sharp
are
to
reserves
to
ultimate
victory would be followed by
rule.
a
same
day, that the rebels
are
fighting for "order" and do not have Fascist lean¬
ings.
Interesting because of its bearing
ternational
Valencia
dispatch
of
Sunday
to
the
the in¬
on
aspects of the Spanish civil
war
New
is
"who
have
12
Far Eastern Tension
SOME relaxation was reportedJapan,week in the
this occasioned
tension between China and
by the steady encroachments of the Japanese upon
Japanese demands on
strictly Chinese territory.
China, described by the Nipponese as "principles"
for the
guidance of the Nanking Nationalist Gov¬
ernment,
modified
were
because the
Chinese
ap¬
peared determined to fight rather than yield, Shang¬
hai
Direct discussions
dispatches indicate.
the
on
Sino-Japanese dispute were held in Nanking, Thurs¬
Generalissimo,
Chiang
Kai-shek, and the Japanese Ambassador,
Shigeru
Just before this meeting took place, Gen¬
Kawagoe.
eral
Chinese
between the
day,
Chiang reviewed
huge military parade
a
grounds outside the capital.
after
made
that the
the
drill
on
Official statements
Thursday, indicated
conversation,
exaggerated politeness of the Far East
it also
But
observed.
was
made
was
plain that both
attain
side^ Avere anxious to
justment of relations.
some satisfactory ad¬
The negotiations will con¬
tinue, but success seems to depend largely
Japanese attitude and demands.
York
the
on
In most reports
from China it is stated that Tokio insists upon
of
establishment
chukuo and
State"
China.
modified, it would
will
remain
armed clash
been captured by insurgents
well-equipped bombing and pursuit
between
the
Man-
China, to consist of the five northern
of
Provinces
"buffer
a
this
Unless
requirement
a
"Times," which states that the island of Iviza in
the Balearic group has
Chaco.
a
rigorous Fascist
Marquis Alfonso Merry Del Yal stated in
Biarritz, France, the
further clashes between the two contenders for the
conflict.
Franco, military leader of the
rebellion, claimed in Burgos, last Saturday, that
rebel
troops stationed in territory that the
Madrid
on
points in the huge semi-circle
ported definitely in progress
rebel
same
Tuesday to have advanced six
on
toward Madrid.
from various
consequent threat to the
a
Paraguay
that
demands
Bolivian
of
of this nature tends to cut the rebel armies
two
negotiations were disrupted, Monday,
withdraw
Bolivians con¬
sider indisputably their own.
The peace commis¬
sion apparently has been unable to delimit satisfac¬
tory neutral zones, and the danger exists of still
by
re¬
the town
Maqueda, 45 miles southwest of Madrid.
ment
appear¬
is
that Sino-Japanese relations
with the possibility of an
seem
strained,
always present.
Discount Rates of
•
Foreign Central Banks
planes at Palma, mostly in charge of Italian pilots."
THE Bank of France lowered its3% rate had been
2HS%. The discount rate on
Pan-American Conference
Oct. 8 from 3 to
PREPARATIONS are beingAmerican Republics
made steadily for
conference
the
is
which
Buenos,
of all the
due
take
place
beginning Dec.
1, at
It
was
the American Republics
a memorandum out¬
Oct.
since
lowered from
5%.
2, 1936, at which time it
DISCOUNT
RATES
Rate in
OF
Argentina..
CENTRAL
FOREIGN
Pre¬
Effect
Date
Established
Rate
334
334
Mar.
1 1936
Country
Holland
4~
Hungary
1 1935
434
India
Belgium—
Bulgaria...
2
May 15 1935
234
Ireland
6
Aug. 15 1935
7
Italy
Canada
234
Mar. 11 1935
signatories to the pacific settlement of disputes,
Chile
4
Jan.
24 1935
4
July
18 1933
but also would
Czechoslo¬
3
Jan.
1 1936
5
Oct.
21 1935
Aug. 21 1935
the
neutrality agreement to be proposed at
meeting.
tional
the
war
This accord
not^only would commit its
provide for embargoes by interna¬
agreement
on
credits to belligerents and
on
supply of arms, ammunition and implements of
to countries
engaged in martial strife.
view to the undeclared
war
With
Batavia
Colombia..
vakia
waged for several years
...
Danzig—.
10 1935
vious
Rate
..
3
4
July
6 1936
Aug. 28 1935
Nov. 29 1935
3
June 30 1932
434
May 18 1936
334
434
334
334
5
Japan
434
3.29
Apr.
6 1936
3.65
Java.
434
June
21935
5
Feb.
1 1935
534
634
334
July
1 1936
May 28 1936
434
May 23 1933
4
6
Morocco
6
Norway
Denmark..
334
2
June 30 1932
Estonia
...
5
Sept. 25 1934
...
4
Dec.
4 1934
234
234
534
434
France
2 34
Oct.
8 1936
3
Germany..
4
Sept. 30 1932
Greece
7
Oct.
13 1933
Jugoslavia.
Lithuania..
5
334
634
334
England...
Finland
a
...
Date
Established
3
...
July
July
a
Pre¬
Effect
Oct. 9
4
of
BANKS
Rate in
vious
Oct. 9
Country
Austria
line
was
Present rates at the leading centers
shown in the table which follows:
are
revealed at
Washington, late
week, that the State Department is circulating
among
effect
Aires, at the instance of the United.States
Government.
last
to
in
...
Poland
6
5
Oct.
25 1933
Portugal...
5
Dec.
13 1934
Rumania
Deo.
7 1934
6
South Africa
434
334
May 15 1933
4
Spain
5
July
5
Sweden
234
Dec.
1 1933
5 34
3
734
Switzerland
2
Sept.
9 1936
234
_.
10 1935
534
by Bolivia and Paraguay, the accord would provide
for
an
unequivocal
suitable reasons,
declaration of warfare,
before the start of
any
These and other aims set forth in the memorandum
were
said at Washington to
'be the embodiment
suggestions received in recent months from
of the interested governments.
The aim of
Foreign Money Rates
with
hostilities.
of
many
peace
in
IN LONDON open market discount rates for short
Friday
9-16%,
against 9-16@%%
bills
on
on
were
as
Friday of last week, and 9-16% for three months'
bills
as
Money
against 9-16@%%
on
call in London
on
on
Friday of last week.
Friday
was
J^%.
At
Paris the
market rate
open
lowered
was
Bank of Germany Statement
Oct. 8
remained
on
Q/l to 3%, but in Switzerland the rate
from
THE statement for the first gold andofbullion of
October
slight increase in quarter
shows
VA%.
at
2265
Chronicle
Financial
143
Volume
Bank of
a
with 94,308,000 marks last year and
which compares
THE statement for 4, 1936 to ended aOct. 6 isgold,
since March the week show
loss of the
78,562,000 marks the previous year.
The Bank's
ratio remains unchanged at 1.5%, as against
first
reserve
amounting, however,Jn the present instance to only
2.46%
gold holdings now amount to
The total
£3,586.
the
The latter
other accounts which decreased
con¬
The
£7,369.
the total down
Circulation last year stood
at 4,004,691,000 marks and the previous year at
3,772,631,000 marks. . The item of investments
shows a gain of 42,000 marks.
Below we furnish a
comparison of the different items for three years:
namely 187,000,000 marks, bringing
to
reserve
proportion of 39.30% is not much reduced from a
week ago when it was 39.80%; last year it was
In
£570,000 and loans on other securities, £130,561.
the
"other securities"
item
included discounts
are
circulation also record a decline,
Notes in
marks.
£23,473,757 and
sists of bankers accounts which rose
and checks of 225,marks and
daily maturing obligations of 65,973,000
other
in
Public deposits fell off £24,963,000 while
deposits increased £23,466,388.
and 2.18% two years ago. A de¬
reserve in foreign currency of
674,000 marks, in advance of 32,847,000
£1,447,000 in circulation, reserves fell off
£1,450,000.
in
appears
130,000 marks, in bills of exchange
As the loss of gold was attended by an expan¬
of
sion
a year ago
crease
£249,751,113 and compare with £194,463,782 a year
ago.
4,469,000,000 marks.
REICHSBANK'S COMPARATIVE
which
advances
and
which decreased
the
Changes
No change was made in
£833,021.
Below
we
—130,000
—225,674,000
Bills of exch. and checks
Silver and other coin...
Oct.
Oct.
Oct. 10,
Oct. 9,
1935
7,
1936
Oct.
11,
12,
Notes
1932
1933
1934
on
other Ger.bks.
—32,847,000
+42,000
Advances
Investments
Other
450,842,000 402,115,807 379,550,625 372,423,999 361,414,469
18,636,485 10.685.898 15,032,475
24,751,000 35,990,661
113,674,238 144,464,942 155,548,745 118,770,540
Circulation
Public deposits
Other deposits
125,133,867
Bankers' accounts84,192,276
Other accounts
28,859,933
9,290,887
19,569.046
58,908,000
Other securities
Disct. & advances.
-
Securities
Reserve notes & coin
Coin and bullion.-.- 249,751.113
assets
Liabilities—
—187,000,000 4,469,000,000 4,004,691,000 3,772,631,000
780,026,000
690,172,000
677,539,000
—65,973,000
248,684,000
268,731,000
8245,094,000
Notes in circulation
Other dally matur. oblig.
75,078,275 107,598,133 111,327,243 83,534,251
38,595,963 36,866,809 44,221,502 35,236,289
83,384,164 81,102,758 68,108,094
85,494,999
29,467,319 24,321,504 23,453,515 29,368,426
14,032,280 10,935,616 11,643,753
17,618,947
10,289,224 12.517.899 17,724,673
11,848,372
73,037,540 79,344,384 53,981,604
52,347,975
194,463,782 192,588,165 191,768,383 140,396,073
40,941,591
79,753,337
Govt, securities
Reichsmarks
78,562,000
94,308,000
20,851,000
29,467,000
3,907,000
4,499,000
3,743,167,000 3,971,339,000 3,679,952,000
204,653,000
134,048,000
a206,883,000
*
8,970,000
9,198,000
77,979,000
40,833,000
25,836,000
756,365,000
670,271,000
527,910,000
631,750,000
660,282,000
a633,721,000
No change
Reserve in foreign curr.
Oct. 6, 1934
63,284,000
24,528,000
5,453,000
+215,000
Gold and bullion
Of which depos. abroad
1935
Reichsmarks
Oct. 7,
7, 1936
Reichsmarks
Reichsmarks
Assets—
ENGLAND'S COMPARATIVE STATEMENT
BANK OF
Oct.
for Week
tabulate the differ¬
comparative figures for previous years:
with
ent items
STATEMENT
£702,460 and securities
rose
2% discount rate.
63,284,000 marks,
215,000 marks, making the total
England Statement
Other liabilities
JPropor.of gold and for'n
curr. to note
.
New York Money
2.18%
2.46%
1.5%
circul'n
♦Validity of notes on other banks expired March
latest available.
31, 1936. a Figures of Sept. 23
...
Market
Proportion of reserve
liabilities
to
Bank rate
40.34%
47.73%
2%
44.77%
2%
34.97%
2%
39.30%
2%
2%
OTHER than for commercial accommodation,
a continued modest increase in the
demand
Bank of France Statement
nothing of interest occurred this week in the
York
THE statement for gold week of Oct. 2 reveals a
large increase in the holdings, namely 7,247,458,562 francs,
A
year ago
the Bank's gold holdings
60.47%,
ever, as
gain of 2,277,000,000 francs, which brings the total
outstanding
a
to 86,027,538,875 francs.
up
ago
Circulation
83,337,485,785 francs and two years
year ago was
Increases also appear in
abroad of 4,000,000 francs, in French
81,309,591,890 francs.
credit balances
serve
their
excess
issue of
which
$50,000,000 discount bills, due in 273 days,
replaced
awarded at
an
a
maturing issue.
average
against securities of 455,000,000 francs and
creditor
in
current
accounts
The item of temporary
state
records
discount
was
advances without interest to
of
loss
The
3,599,000,000 francs.
lowered
on
Oct.
8 from
3% to
A comparison of the various items for three
2M%years
rate
a
of 488,000,000 francs.
is furnished below:
York Stock
The bills were
of 0.162%, computed on an
annual bank discount basis.
with little business
vances
basis of
requirements.—The Treasury sold last Monday an
bills
ad¬
how¬
of member banks for the
reserves
bankers' bill rates were
of 242,000,000 francs, in
The
clients.
country are at $1,950,000,000, on the new
commercial bills discounted of 393,000,000 francs, in
bought abroad
they may be called upon
commercial
primary
reservoir of idle funds continues to brim over,
Notes in circulation register a
year.
New
appear
Treasury
to
The reserve ratio stands now
against 74.79% last year and 80.76%
as
previous
longer
determine
increase
to
first the extent to which
82,346,942,689 francs.
the
their
no
portfolios of
anxious
aggregated 72,093,149,412 francs and the year before
at
Banks
market.
obligations, possibly because they wish to
bringing the total up to 57,358,-
742,140 francs.
money
Commercial
paper
and
quite unchanged all week,
done.
Call loans
on
the New
Exchange held at 1% for all transac¬
tions, whether renewals or new loans, while time
money was
offered at 1%% for all maturities to six
The New York Stock Exchange
months.
tion of brokers' loans showed an
compila¬
aggregate of $971,-
531,244 at the end of September, off $2,253,340 for
that month.
BANK OF FRANCE'S COMPARATIVE STATEMENT
New York Money
Rates
Changes
or
Week
a
.
1936
Francs
Francs
Gold holdings
Credit bals. abroad
Oct. 2,
Oct. 4, 1935
Francs
Oct. 5,
1934
*
Francs
+7,247,458,562 57,358,742,140 72,093,149,412 82,346,942,689
10,837,289
15,505,680
22,762,424
+4,000,000
French commercial
bills discounted.,
b Bills bought abr'd
Adv. against secure.
Note circulation
Credit current accts.
7,661,857,086 3^395,410,565
924,025,515
1,224,577,291
3,198,012,535 3,192,499,492
+2,277,000,000 86,027,538,875 83,337,485,785 81,309,591,890
+488,000,000 8,827,974,833 13,060,609,822 20,788,141,490
+393,000,000
+242,000,000
+455,000,000
interest to State..
1,475,601,131
4,007,051,458
a
60.47%
,
b Includes bills discounted abroad,
10-billlon-franc credit opened at Bank.
Note—"Treasury bills discounted" appeared in blank in the statement of
as
all of these bills have now
d Rep¬
Sept. 25.
matured and have been transferred to the account
"temporary advances without interest to the State."
80.66%
74.79%
Includes bills purchased in France,
resented drafts of Treasury on
still
at
a
standstill,
for all maturities.
paper
tinues
what
both
new
The market for time money is
loans and renewals.
no
transactions having been
Rates continue nominal at 1M%
reported this week.
—3,599,000,000 12,304,423,000
+ 6.05%
ruling quotation all through the week for
7,860,432,902
d Tern. adv. without
Proport'n of gold on
hand to sight liab.
DEALINGExchange from day toloan rates was the
in detail with call day, 1% on the
Stock
The market for prime commercial
has been active this week. The demand con¬
heavy and the supply of paper has been some¬
larger.
Rates
are
%% for extra choice
names
Financial
2266
Chronicle
running from four to six months and 1% for names
ened
less known.
the
,
Bankers' Acceptances
been very
tions
issued
as
Official quota¬
change.
no
by the Federal Reserve Bank of New
York for bills up to and including 90
bid and
and
days
34%
are
3-16% asked; for four months, 5-16% bid
the
The bill-buying rate of the New York
Reserve Bank is
34% t°r hills running from 1 to 90
days, %% for 91- to 120-day bills and 1% for 121to
The Federal Reserve banks' hold¬
180-day bills.
ings of acceptances remain unchanged at $3,098,000.
Open market rates for acceptances
far
as
fix
their
the dealers
concerned,
are
The
rates.
own
market acceptances are as
nominal in
are
so
they continue to
as
nominal
for
rates
open
follows:
—180 Days—
Bid
Asked
Bid
Asked
%
S16
%
5i6
!
v",
Bid
Asked
516
X
—30 Days
60Days
90Days——
Bid
Asked
Bid
Asked
Bid
Asked
X
he
X
he
X
he
Prime eligible bills
new
The
October 5 to devalue
value of the Italian
set officially at 19 to the United
registered at 96.42
was
pound.
The monetary
hardly expect
ments to
authorities in the several countries
the
management
currency
work smoothly at
arrange¬
A few weeks
present.
be required before the foreign exchanges function
may
smoothly.
A
slight repatriation of French funds from both
New
York
and
London
taken
has
time gold hoarded in London
same
heavily in the London market
A
At the
place.
has been offered
since Sept. 26.
ever
large part of this gold has been engaged for ship¬
ment
to
New
York.
As
sterling American buyers
for
London
corollary to the fall in
a
were
enabled to bid
more
gold, causing the price to advance
Wednesday to
142s
an
highest
the
ounce,
on
since
October, 1935 though well below the peak of 149s. 4d.
—120 Days
150 Days
•
Prime eliglole bills
was
1936
on
gold content of the lira
to the
34% asked for five and six months, %% bid and
5-16% asked.
41%.
monetary unit
slow in coming out and the volume of business has
Rates show
by the Italian decision
lira about
10,
States dollar and 90 to the British pound, although
THE demand briskprime week, but acceptancesbeen
for this bankers' bills have has
been small.
Oct.
FOR DELIVERY WITHIN THIRTY
reached in
the
Eligible member banks
Eligible non-member banks
% % bid
% % bid
-
Discount Rates of the Federal Reserve Banks
The fixed price of gold here
moment upon
price of the metal in London, just
silver
DAYS
March, 1935.
is having a controlling effect at the
prices
established
by the
governed
are
London
as
fixed
quotation
by United States Treasury support here.
This situation will doubtless continue
as
long
as
the
initiative remains with the seller.
THERE have been no changes this week banks.
rediscount
the Federal Reserve in the
rates of
The
following is the schedule of rates
for
the
Perhaps the most encouraging feature of the im¬
mediate
foreign exchange situation is the evidently
of
classes
at
paper
in effect
sincere effort being made
the
different
reduce
tariffs, quotas and other barriers to worjd
trade,
various
now
p
Reserve banks:
DISCOUNT RATES OF FEDERAL RESERVE BANKS
Reports from Washington
Effect on
Dale
Established
Boston
Rate
Congress to enact legislation giving him "emergency"
8 1934
Feb.
2
2X
authority
2
New York
IX
Feb.
2 1934
Philadelphia
2
Jan.
17 1935
Cleveland
IX
May 11 1935
2
2
May
9 1935
2X
Atlanta
2
Jan.
14 1935
2X
Chicago
2
Jan.
19 1935
2X
St. Louis
2
Jan.
3 1935
2X
Minneapolis
2
May
Kansas City
2
May 10 1935
2
May
8 1935
2X
San Francisco
2
Feb.
16 1934
foreign
the
2 X
14 1935
2X.
the
were
Sterling Exchange
owing, it would
The President's remarks
ease
repatria¬
some
which
of
tion of French and other Continental funds in London
and also to the movement of dehoarded
don to New York.
There
British authorities
are
can
be
British
The
authorities
Continental
are
the
to
devaluation
can
parity of $4.8665.
the
and
which
followed
Continental currencies
Sept. 26 and Oct. 5.
general
gradually adjust them¬
radical changes
of the
doubt that the
marking time until the
currencies
foreign exchange market
selves
gold in Lon¬
also encouraging a movement
of sterling closer to its former dollar
devalued
no
given by him
assurance
the
between
On commercial account seasonal
was
Sept
His
.
implied
assurance
given in the tripartite
money agreement
pronouncements to the
newspaper
porary powers over
but
will
either
the dollar expire
asked
their
replacement by
nent
power over
of
for
new
their
legislation granting
the dollar
as
an emergency
quoted rates than the disturbance caused by
devaluation of the
The
Continental gold bloc currencies.
for sterling this week has been between
range
$4.88% and $4.93 5-16 for bankers' sight bills,
pared
with
a
range
$4.95 15-16 last week.
has
with
been
a
The
25-26
between
range
between
$4.90 15-16
and
The range for cable transfers
currency
considered to
com¬
$4.88% and $4.93%, compared
of between $4.91 aiid $4.98
tripartite
is
of
a
agreement made
have
been
week ago.
on
Sept.
greatly strength¬
or
for
perma¬
means
protecting prices.
Authority to devalue the dollar by not
50% of its then gold value
was
more
conferred
on
than
the
President in
tural
May, 1933 by Title III of the Agricul¬
Adjustment Act.
This power was amended in
the
current
Jan. 30, 1937,
on
continuance
that the devaluation be not less than
the
dis¬
men
closed that if reelected he will not let his present term
this aspect of the
upon
He
to this effect
257
factors would be adverse to sterling at this time but
market has less bearing
per¬
of the dollar will not be further altered.
thus strengthened the
inclined to
largely to
seem,
first indirect
sonally that, barring foreign developments, the gold
value
TERLING exchange is strongly
He
only if
manipulations tended to break down
currency
American price level.
2X
Dallas
the gold content of the dollar.
over
asserted that such authority would be used
2X
Richmond
S
asserted
Previous
Oct. 9
Course of
Tuesday
on
that President Roosevelt indicated that he
may ask
Rate in
Federal Reserve Bank
by various governments to
Gold Reserve Act of Jan.
30, 1934 ot provide
40% and that
/the power expire Jan. 30, 1936 unless the President
extended his
the
authority for another
devaluation
Jan. 30, 1937,
by proclama-
a
certain
power
new
sense
legislation by Congress.
the former Continental
currencies have effected
under the
theless
and stabilization fund until
but lacks authority to continue them
farther without
In
year
President Roosevelt early this year extended
tion.
a
readjustment
gold bloc
more or
guidance and leadership of London.
they cannot be considered
as
less
Never¬
having joined
.
'
Volume
the
Financial
143
sterling
consisting
group,
of
now
some
35 nations.
2267
Chronicle
tion
consideration.
serious
The commercial relations between London and these
cellor also asserted that
former
gpld-bloc countries will be dominated by the
be
in other words the sterling-dollar
or
sterling-gold link.,
or
So far at least
link.
satisfactory technique for
no
stabilizing the sterling-dollar rate
been worked out in the
appears
to have
regulation of exchanges during
the last week.
According to London "advices, regulation of rates
thus far have been conditioned chiefly by fortuitous
bullion operations which
one-way
basis for control.
permanent
It
not provide a
can
that sta¬
appears
bility has been maintained thus far by the fact that
the
of
position of the exchanges has caused
gold from the London
but inasmuch
a
movement
market to New York,
open
the United States does not permit
as
shipment to non-gold countries, that basis of stability
would
disappear if shipments of metal from New
York to
should be required.
London
future
for
An essential
stability of sterling in terms of dollars,
francs, and guilders, it is believed in London, is the
establishment of
and here,
London bankers point out, that the United
make
could
States
two-way gold traffic with London,
a
important
an
by
stability
currency
it
Little
the
working of the present
or
information
no
currency agreement
available
is
and
the
concerning
Within
will
short time,
a
held
be
within
limits.
certain
it is believed, the degree of
adjustment necessary to conform to economic actual¬
ity will be discovered.
countries
The cooperation of the three
this end has
to
as
its first
bridging of the difficult period which may be
The
movements.
depend
expe¬
the speed with which confidence returns.
on
Little doubt is felt either in London
or
New York
sound
placed the French national finances
basis, several
years
funds from
of French
before France is
stress than
no
as
The task
less complex
that of ten years ago.
countries such
on a
elapsed before the return
foreign countries.
certainly
or
full of
The situation of
The Netherlands and
Switzerland,
which have lost capital in the last year or more,
different
would
simply because it
become
French unit.
to
return
to
involved in
was
any
is
that they
certain
devaluation of the
Expatriated capital has already begun
these
countries, but the loss o§> such
funds would barely touch the fringe of the great sur¬
plus of foreign funds
now
in refuge in New York and
new
currency
arrangements, though extraor¬
dinarily encouraging in their immediate and future
effects
on
international
actual stabilization
to it
trade,
do
not
accomplish
though the steps taken
may
lead
eventually.
Remarks made
cellor of the
a
few
a
still
distant future.
currency
a
day.
change from day to
bills
months'
19-32%,
are
21-32%, and six-months' bills
Gold
on
Two- and three-
four-months'
bills
are
11-16%.
are
v
offer in the London market this week
Most of the heavy
taken for unknown destinations.
offerings in the market
were
was
believed to have been
supplied by London hoarders for shipment to the
States.
United
It
market to
£603,000,
Bank of
Jan. 1
the
arrest
upward
£770,000,
Monday
Wednesday
on
£510,000 and
that
trend
in
the
offer
was on
Tuesday £1,-
on
£957,000,
Friday £783,000.
on
several
on
exchange control bought in the
On Saturday last there
on
486,000,
thought
was
occasions the British
on
Thursday
On Monday the
England bought £10,209 in gold bars.
now
gold purchases for
U
At the Port of New York the
the week ended Oct.
7,
Reserve Bank of New
as
since
own account
total £48,792,959.
gold movement for
reported by the Federal
York,
follows:
was as
GOLD MOVEMENT AT NEW YORK, OCT. 1-OCT. 7, INCLUSIVE
Imports
Exports
$93,940,000 from France
29,429,000 from England
1,235,000 from India
None
1,192,000 from Holland
6,000 from Guatemala
$125,810,000 total
Net Change in
Gold Earmarked for Foreign Account
Increase: $590,000
Note—We have been notified that approximately $827,000 of gold was
received at San Francisco, of which $626,000 came from Australia and
$201,000 from Hongkong.
above
figures
are
for the
week
ended
on
OnThursday,$4,
Wednesday.
received of which $2,498,000 came from Canada, and
$1,602,400 from England.
the metal
or
There
were no exports
On Friday $3,347,700 of gold
account.
of
change in gold held earmarked for foreign
was
received,
of which
from
but
$3,340,900 came from Holland and $6,800
Guatemala, there were no exports of the metal
gold earmarked for foreign account increased
$6,800.
It
was
reported that $626,000 of gold
was
received at San Francisco from Australia.
Canadian exchange
tween par
and
a
during the week ranged be¬
premium of J^%.
The following tables show the mean London check
rate
on
Paris, the London
open
market gold price,
price paid for gold by the United States:
MEAN LONDON CHECK RATE ON PARIS
Saturday, Oct. 3_..__-
Oct. 5
Tuesday, Oct. 6
Monday,
105.54
—105.39
105.03
Wednesdau, Oct. 7
104.81
Thursday,
Friday,
Oct. 8__
104.76
Oct. 9
104.91
LONDON OPEN MARKET GOLD PRICE
Saturday, Oct. 3
-141s.
Oct. 5-141s. Kd.
Tuesday, Oct. 6-__-—141s. 7d.
Wednesday, Oct. 7„_
Thursday,
Oct. 8
Friday,
Oct. 9-
142s.
142s.
3d.
142s.
lOd.
PRICE PAID FOR GOLD BY THE UNITED STATES
days
ago
by the British Chan]
Exchequer Chamberlain indicate that
Great Britain is not willing to give currency stabiliza¬
ultimately arriving at
our
Monday,
Actual stabilization lies in
Mr. Chamber¬
Money in Lombard Street continues easy, showing
little
and the
London.
The
of
way
It
is recalled that after Premier Poincare devalued the
franc and
the
The
that repatriation of French capital will be slow.
inter¬
an
the only basis which
on
system based on the free exchange of gold."
capital
of such movements will
measure
standard
give general confidence."
appears to
objective the
rienced in the next few months in international
expressed before
probably will return to
lain added that he saw "no insuperable obstacles in
The Bank's
beyond the fact that sterling, the dollar,
franc
national monetary
price of gold.
machinery of the United States, Great Britain
and France
to alter the view I have
see no reason
open
probable operation of the triangular exchange
control
Tuesday night at the Mansion
on
banquet to bankers the Chancellor said, "I
of
under the former gold standard.
was
House
to
Two-way gold traffic is just" as vital to
the proper
as
deflationary effects.
speech
a
export
the
agreement but which are not on the gold
standard.
In
contribution
permitting
gold to countries which are party to the three-power
currency
adopted which would bring about dearer money
other
that eventually we
1
the \Chan¬
However,
monetary policy would
no
(FEDERAL
Saturday, Oct. 3
Oct. 5
Tuesday, Oct. 6—
Monday,
RESERVE BANK)
$35.00
35.00
35.00
Wednesday, Oct. 7
Thursday,
Oct. 8
Friday,
Oct. 9.
I
$35.00
35.00
___
35.00
Financial
2268
Referring to day-to-day rates sterling exchange
relatively active
market.
Bankers' sight was $4.93 1-16@$4.93 5-16;
cable transfers, $4.93%@$4.93%. On Monday sterling was inclined to ease as demand for other curSaturday last
on
was
The
increased.
rencies
firm in
a
$4.91 9-16@
was
range
$4.91%@$4.92%
Tuesday sterling moved
$4.92 13-16 for bankers' sight and
cable
for
lower
On
transfers.
demand for dollars and francs in
on
London,
Oct.
Chronicle
10,
1936
the immediate cash requirements of the French Treas¬
ury and was guaranteed by 3,000,000,000 francs of
gold reserves of the Bank of France. The loan
matured on Aug. 20 but was renewed for three
months.
During the last week-end the French Government
decreed a reduction in certain tariffs, elimination of
100 import quotas as of Oct. 10, and abolition of the
special compensatory surtax*designed to combat com-
petition from depreciated currencies. The decrees
On reduce the duties on imports of raw materials by 20%,
Wednesday the pound was noticeably easier. Bankon semi-manufactured goods by 17%, and On maim¬
ers' sight was $4.88%@$4.89% and cable transfers
factured goods by 15%, except in cases where quotas
were $4.88%@$4.89%.
On Thursday sterling was / are in effect, with respect to which a reduction of
relatively steady in an active market.
The range
20% will take effect on Oct. 10. Exchange surtaxes
was
$4.89 5-16@$4.89% f°r
bankers' sight and
have been abolished on goods from the British
$4.89 7-16@$4.90 for cable transfers.
On Friday
dominions with the exception of Canada, and have
sterling was steady. The range was $4.90%@$4,90%
been reduced to 10% for Japan and China,
for bankers'- sight and $4,90%@$4.90% for cable
A special commission has been appointed to revise
transfers. Closing quotations on Friday were $4.90%
the entire tariff system in preparation for the time
for demand and $4.90% for. cable transfers. • Comwhen international trade barriers will be lowered
mercial sight bills finished at $4.90%, sixty-day bills
generally. The purpose of the decrees is to carry
at $4.89%, ninety-day bills at $4.89%, documents
out the objectives of the tripartite currency agreefor payment (60 days) at $4.89%, and seven-day grain
ment.
•
;>
>
A'
bills at $4.89 15-16.
Cotton and grain for payment
The French Government has also, a defensive pur$4.90 5-16@$4.90 15-16 for bankers'
The range was
sight and
closed at
$4.90%@$4.91 for cable transfers.
pose to
$4.90%.
prevent price increases in France resulting
from devaluation of the franc.
Continental and Other Foreign
Exchange
which
was
The social legislation
enacted during the summer
by the Blum
THE Bank of Franceto 2%%. its rediscount rate in French price levels which has been in progress
lowered The 3% rate had Government has intensified the rapid sustained rise
from 3%
on
Oct. 8
been in effect
only since Oct. 2, when it was reduced
from
5%, the rate established on Sept. 24.
The reduction in the bank rate is obviously a part of the
for more than a year. The wholesale index at the
end of September was 426 on the basis of 100 for 1914.
This was the highest level since early in 1932. As
general plan to make the tripartite currency agree-
compared with Aug. 31 the wholesale index has risen
and is also designed to promote greater
by 8%, by 14% from June 30, and by 27% over a
year ago.
The increase is due largely to the rise in
ment effective
ease
in the Paris market.
of
prices of national products, which are up 20% since
Oct. 2 is the first to be based on the devalued franc,
the beginning of the year, whereas piices of im-
The statement shows
ported products advanced only 10%.
On Monday, Oct. 5, the Italian Government re-
The current statement of the Bank of France as
francs
on
the
new
gold holdings at 57,358,742,140
basis (about
$2,844,944,000)
com-
pared with 50,111,283,678 francs in the statement for
the week ended
It
Sept. 25.
was,
of course, to be
expected that abandonment of gold and devaluation
would
cause
a
large increase in the bank's holdings,
Some of the present
hoards,
from the British stabilization fund re-
some
leases, and
increase is derived from private
some
from other countries.
But "profit"
official quarters,
come
confidence
a
Sept. 26, it
strong response or indicate a return
a
on
the
part
of French hoarders,
and
French
to
about
notes
of
since
France, including gold,
of
17,000,000,000 francs,
will
go
to
high
80,000,000,000
estimated that the revaluation
to
be
few days ago it was estimated in official circles
amounted
francs
reported in
about 2,000,000,000 fr. of gold had
that the total hoardings in
silver
was
from hoards held at home, but this cannot
considered
only
on
denomination,
francs.
It
is
"profit" will amount
of' which
10,000,000,000
the exchange equalization fund,
3,000,000,000 francs to the Credit Foncier to make
possible reduction in interest on loans to Provinces
and
Mussolini's action fixed the value of the lira at
approximately 5.2 cents, as compared with 7.6 cents,
the closing quotation
from devaluation is the chief source.
Sin ce devaluation
duced the value of the lira by 41%. The new value
of the unit was fixeS officially at 19 to the United
States dollar and at 90 to the British pound, although
the gold content of the lira was registered by the
decree of devaluation at 92.46 to the pound. Premier
municipalities, leaving 4,000,000,000 francs free
for the Treasury.
It is believed in Paris that the French Government
on
the New York foreign
ex-
The decrees in
effect have restored the ratio which existed between
the lira and the dollar before the United States
devalued the dollar to approximately 59 cents. The
original parity between the lira and the undervalued
dollar was 5.26 cents.
The Cabinet declared that fluctuation within a
10% limit would be permitted, similar to the policy
adopted in the French and Swiss devaluation. The
"export
was eliminated completely and the
"tourist lira," offered at a discount to induce travel
in Italy, has been suspended temporarily.
It is understood, though confirmation is impossible, that devaluation followed conversations on
monetary ? alignment between Italy, Great Britain
and France, concerning which the United States was
change market
advised.
on
Saturday last.
The gold value of the lira
was
placed at
sterling credit, which is now equivalent to 4,000,000,-
4.677 grams of gold for each 100 lire. The decrees
effecting devaluation also provided for the lowering
obtained from
of certain tariffs to offset price advances occasioned
contemplates repaying in November the £40,000,000
000 devalued francs.
a
The credit
was
syndicate of London banks last February to meet
by the currency change.
The Italian Government
will in effect
there will be
permit freer importation of foreign goods
toward the restoration
trade.
international
of
Eastern
will in
Europe
herence to the
thad;
believed
is
It
around 245 dinars to the pound sterling. It is believed
a
as
Balkans and
that the unit will be allowed to fall to its former level
short time give their ad-
of 275 dinars to the pound sterling,
The following table shows the relation of the
leading European currencies to the United States
Italian devaluation
the
a
the
tripartite agreement.
striking result of the Italian action was an ex-
A
purchases
on
dollar:
Reliable esti-
cessive demand for lire in New York.
mates of such
several days this week
are
Belgium (belga)__
A strong commercial
gS'gffy
. 1
j
a
the
in
last
several months.
demand for lire
also reported from South Ameri-
was
addition
In
countries.
can
it
Italian residents in this country
to relatives on a
also heavy
There
were
Government postal savings bank and
Four-fifths of the credit
immigrants in Italian postal savings ac-
Italian
of
began remitting funds
larger scale than before.
commercial banks.
other
that
reported
was
remittances by Italo-Americans for deposit
in the Italian
counts—2,189,103,000 lire
the
at
end
of
1935—
belong to depositors in the United States.
The
gold reserves of the Bank of Italy will be
011 the basis of the new lira and the resulting
revalued
.i,
,
iij
x
rxu
.x.
j.
xu
surplus will be placed at the disposition of the Treas-
Special powers were voted to suspend restricnecessary on movements of capital
my.
tions
wherever
domestic
between
and
excfoanges
foreign
money
markets.
A
capital levy
property owners was also ap-
on
<01-
iu
subscribe to
•
nnu
,
proved by toe Cabinet.
to
These
devaluation of their property.
j
required
persons were
loan to the extent of 5% of
a
itaiy (lira)
obtain
between
Germany is
now
far
tlius
Hitler is
Mr.
Evaluation
"We
in
sources
currency
He said,
stable.
Germany, the action of the Berlin
Sept. 25 indicates a widespread belief
only
a
short time before the German
authorities fall into line
with the general policy of
,
Tuesday the Rumanian Government pledged
support to the tripartite currency agreement as
of
means
leading to the progressive abolition of
taiiff quotas
and foreign exchange control.
Tuesday the Czechoslovakian Cabinet approved
bill
by which the Czechoslovakian crown will be
devalued.
The
reduced
between 31.21
gold,
to
compared
gold content of the
and
33.21
value of the
currency
by the Government and will depend
of
the
international
range
gives
3.917
and
a
will be
milligrams of
crown
previously,
with 37.15 milligrams
The final exchange
money
will b? fixed
upon
market.
the
The
course
present
parity in terms of the dollar between
4.25
cents,
against
previous parity of
5.02 cents.
According to dispatches from Belgrade on Wednes-
day, Yugoslavia will allow the dinar to decline gradually to competitive levels with other currencies, but
pl^on Monday,
the European currencies
On Saturday last,
Oct. 5.
with 40.17 and 40.18.
comparison
in
Italian lire
5>26^ for bankers> sight bills and at 5.26%
for cabie transfers, against 7.69 and 7.70.
Lira devaluation became effective on Oct. 5.
Austrian
closed at
schillings, closed at 18.77, against 18.80; exchange on
Czechoslovakia at 3.70, against 4.11; on Bucharest at
0.74, on Finland aton2.17, against 2.18. Greek exagainst 0.74;
Poland a,t 18.85, against 18.86,
change cloged &t „^ 0.90^
and
,
TPHE Swiss decrees published
1
on
Saturday last
provided for drastic reductions in import duties
to offset threatened increases in prices.
affect
The duties
The Swiss Govern-
18 classes of foodstuffs.
ment said that complete abolition of
import restric-
"inexpedient for reasons of commercial
was
Under the
policy."
new
rules
importers
will be
given greater freedom in the use of their quotas and
other quota requirements will be relaxed.
Following the devaluation of the guilder there has
been
to
movement of liquid balances from
some
easier tham most of the
reason
London
Nevertheless the guilder is relatively
Holland.
European currencies for the
that now, as for some time, there is a con-
sistent movement of Dutch funds to both London
New York for investment opportunity.
and
This out-
ward flow of Dutch money is largely responsible
a
for
slight firming in the Amsterdam money market,
Amsterdam
0n
1
to 2%.
1
was
The rate moved up on
last Tuesday to 2%%.
Bankers' sight
at 53.35,
On
a
took
to 5.27b
ESS*
On Friday of last week the private discount rate on
readjustment.
currency
a
He reaffirmed his deter-
public."
Despite these and other comments from offi-
that it will be
its
currency
speech in Hamelin on Sunday,
keep the
Boerse since
On
new
unconcerned with what the world outside
are
does."
cial
to
a
the
to
S
^he London check rate on Paris closed on Friday
a^ 105.02, against 105.69 on Friday of last week. In
New York sight bills on the French center finished
on Friday at 4.67, against 4.65% on Friday of last
week> cable transfers at 4.67, against 4.66%. AntwerP belSas closed at 16-83 for bankers' sight bills
and a^ 10.83 for cable transfers, against 16.82% and
Final quotations for Berlin marks were 40.12
.or banker?
bt bUs and 40.15 for ca e trans ers,
tions
the only major country which has
conform
}®:fo
5.26^
0ct- 3>the lira ranged between 7.50 and 7.70.
reported to have said: "Devaluation
swindles tne saving
mination
5% loans.
to
In
arrangements.
to
10,000,000,000
5,000,000,000 and
lire from the forced
failed
Government hopes
Italian
The
assets.
8.9i
the
The 5% levy applies
factories, and not to bonds, savings deposits and
similar
-
to 16.84H
16.80
16.95
5.26
New dollar parity as of before devaluation of
a
.
only to fixed property, such as buildings, farms, land
and
13.90
....
_
4.66 i5-i6to 4.68
6.63
3.92
France (franc)
j.
,
ml'week
0,dpNeparuyTr
,
and 6,000,000 lire, as compared
\
,
j ,,
Vv
daily turnover of a few hundred thousand lire
between 4,000,000
with
formal devaluation. The quotations
no
for dinars in the unofficial market on Wednesday were
and will contribute its share
result of
2269
Chronicle
Financial
143
Volume
transfers
on
Amsterdam finished on Friday
against 53.20 on Friday of last week; cable
at
53.40, against 53.20; and commercial
sight bills at 53.20, against 52%.
at 23.06 for
against 23.00 and 23.01.
at 21.90
Swiss francs closed
checks and at 23.08 for cable transfers,
Copenhagen checks finished
and cable transfers at 21.91, against 32.01
and 32.02.
Checks
on
Sweden closed at 25.28 and
25.29, against 25.42 and 25.43;
cable transfers
at
while checks
Norway finished at 24.64 and cable
on
transfers at 24.65, against 24.78
pesetas were not quoted in New
-
and 24.79.
Y'ork.
Spanish
♦—
T^XCHANGE on the South American countries is
strongly affected by the changes in sterling
and the major currencies and adjustments are being
Financial
2270
made to the lower levels of sterling
Some hesitancy must
franc.
and the French
continue to be evident
the major align-
in the South American units until
ments
working
are
Argentine
on
closed
pesos
Friday of last week; cable transfers at 32.75,
The unofficial or free market close
against 32.90.
Brazilian milreis, official
28.00, against 28.10.
was
Friday,,official
on
32.75 for bankers' sight bills, against
quotations,
32.90
smoothly.
more
paper
The unofficial or free market
close was 5.90@5.95, against 5.85@5.90.
Chilean
exchange is nominally quoted at 5.19 against 5.19
rates, were not quoted.
Peru is nominal at 25.19,
0ct 10t 1936
Chronicle
formally approved by
the Twentieth Century Fund, and its later release
for publication by Governor Landon, on Sept 30,
was not authorized by the foundation, but its formal
status has, of course, no bearing upon the scope of
its destructive analysis or the cogency of its arguments. The force of Governor Landon's criticism|
is not weakened, moreover, by his ,own acceptance
of the idea of old age pensions—an acceptance which
the authors of the report also share. The criticism
port in question had not been
from both
quarters is directed at the
carried out.
scheme it embodies is to be
against 25.19.
There
two
are
Governor Landon pointed
ways,
out, in which the problem of so-called
EXCHANGEsympathy with the countries moves
on the Far Eastern fluctuations in
close
in
The Japanese authorities have
sterling exchange.
them to make
declared that it is unnecessary for
A recent
as
the
yen
shortly be in the unique posi-
stated that China will
tion
any
is already allied to sterling.
Reuter's dispatch from Shanghai to London
change in policy
having almost its entire currency backing
of
held abroad in the form of earmarked gold
shipments of silver to New
^
stocks
(Chinese), which
York and Hongkong,
Shanghai
at
are
around
$41,000,000
also likely to be exported soon,
Closing quotations for yen checks yesterday were
28.71, against 28.22 on Friday of last week.
beings
improvident—that it is necessary
are
management of a paternal govern¬
to have the stern
force them to provide for themselves—that
ment to
it is proper
for the government to force them to save
for their old
The other way is "to recognize
people are unable
age."
that in the industrial nation some
provide for their old age—that it is the responsi-
to
The first
F>iiity of society to take care of them."
This condition is the lesult of heavy
exchanges.
leaving
and foreign
human
social security
One way is "to assume that
be approached.
may
basic assump¬
in which the particular
tions of the Act and the way
approaches is the one which the Federal
^-jiese
government, in the Social Security Act, has adopted
The
Act, he declared, "is a glaring example of the
bungling and waste that have characterized this Administration's attempts to
fulfill its benevolent pur-
Hong¬
kong closed at 30 9-16, against 30%@30 13-16;
Shanghai at 29%@29%, against 29 9-16@29%.
Manila at 50%, against 50.20; Singapore at 57%,
lishes
compulsory old-age insurance, applicable to
against 57.95; Bombay at 37.08, against 37.30; and
about
one-half
Calcutta at 37.08, against
cluding,
Gold Bullion in
t
HE
(converted into pounds sterling at par
..
exchange) in the principal European banks
us
as
of
are
by special cable yesterday (Friday); comparisons
shown for the
corresponding dates in the previous
four years:
*
1932
1933
1934
1935
1936
of the working
while
persons
estab¬
population but
ex¬
another puts pressure upon the
sets
old-age pensions for needy
up
to whom the compulsory provisions do not
Under the compulsory part of the Act, Gov-
apply.
ernor
one
adopt unemployment insurance systems,
third
a
Act,
others, farmers, farm laborers and
among
Landon
until 1942
explained,
On Jan.
pensions
no
are
to be paid
1, 1937, however, "26,000,000
working people begin paying taxes to provide these
pensions," and
.
Banks of-
Of the three broad divisions of the
States to
respective dates of most recent statements, reported
to
able, stupidly drafted and^wastefully financed."
domestic servants;
European Banks
following table indicates the amounts of gold
bullion
.
of
37.30.
In his judgment the Act is "unjust, unwork¬
poses."
from
employers
payrolls,
and
must
turning
begin
deducting
Federal
to the
over
government, taxes which begin at 2% and rise to
England
194,463,782
Germany b_
1,927,000
88,092,000
842,575,000
59,047,000
77,873,000
56,590,000
24,157,000
6,552,000
6,604,000
Spain
Italy
Netherlands
Nat. Belg'm
Switzerl'nd
Sweden
Denmark
_
_
Norway
Total week.
192,588,165
576,745,235
3,246,000
90,774,000
46,874,000
249,751,113
458,869,937
France
658,775,541
2,665,550
45,159,000
97,681,000
46,617,000
20,159,000
6,555,000
6,602,000
90,617,000
68,440,000
72,187,000
76,030,000
66,768,000
15,605,000
7,396,000
6,579,000
191,768,383
656,299,543
15,223,650
90,40^,000
76,906,000
70,180,000
77,374,000
61,594,000
14,071,000
7,397,000
6,569,000
140,396,073
661,154,865
36,650,850
90,281,000
62,393,000
86,225,000
73,783,000
89,164,000
11,443,000
7,400,000
1,072,038,050 1,134,876,617 1,257,651,256 1,266,977,576 1,266,801,788
1,256,771,116 1,267,417,000 1,266,856,849
Amount held Oct.
Bank of Germany are
reported
as
1935; latest figures available,
b Gold holdings of the
exclusive of gold held abroad, the amount of which Is now
29,
£1,226,400.-
declared. The
is "not
either
so," for in most
The
speech at Milwaukee,
on
Sept. 26, in which
Governor Landon attacked the Social
stands out
tions to the
as
one
Security Act,
of the most important
political issues of the campaign that the
Bepublican candidate has thus far made.
upon a
Fund,
contribu¬
Drawing
report prepared for the Twentieth Century
and translating its language into
ness.
"Such
Landon
In
bad
Act, and exposed not only
ious dangers,
its
financial and administrative, which
application is certain to entail.
misunderstanding
ser-
arose
An unfortunate
from the fact that the
re-
the tax will be borne
or
by
consumers
excessive tax
on
in
payrolls," Governor
pointed out, "is beyond question
In
of
prosperous
wages
times it
a
tax
on
times it slows down the
and holds back re-employment.
increases
wage
unemployment, and
un-
scales."
happen to the
savings, in the form of tax deductions from
which workers must go on
time in order
they
of the
be
Turning to another financial aspect of the scheme,
Act.
the inherent defects of the scheme but also the
cases
Governor Landon asked what is to
more
sential features
an
employment breaks
popular form, Governor Landon examined the es-
a
Governor
the tax will
higher prices if the employer is to continue in busi¬
employment.
Against the Social Security Act
that
wholly by the employee
advance
The Case
claim
equally divided between employers and employees
7,911,000
Prev. week. 1,041,041,968 1,134,798,008
a
6%—"the largest tax bill in history,"
Landon
to be
into
a
wages,
a
life¬
eligible to the benefits of the
The Administration
go
accumulating for
reserve
theory, he said, "is that
fund, that they will be in-
vested at interest and that in due time this interest
will
help pay the pensions," but the facts will be quite
different.
The law requires the Treasury to invest
the fund in government bonds.
The bonds, however,
will be merely an exchange for the money which the
Financial
143
Volume
Treasury pays to the
Treasury, and with a Treasury
spenders at Washington" Gover¬
deficit and "good
probability" that the cash
Landon saw "every
nor
the workers pay
and
in "will be used for current deficits
Even if the budget is
extravagances."
new
instantly available for any purpose by issu¬
fund is too great a
criticism at this point is en¬
criticisms in
report which he used. During the period until
1942, in which no benefits are to be paid, the fund
by some specific figures and
the
of nearly $3,000,000,-
will accumulate to the amount
By 1970 it is expected to reach $41,000,000,000,
000.
$50,000,000,000.
"Not until almost 1970," the report
finds, "will annual benefits paid out in any year
equal the amount collected in taxes," while "in the
single year 1.943 more than $1,000,000,000 will be
collected in taxes, but less than $100,000,000 will
by 1980 "the enormous total" of nearly
and
paid in benefits."
Moreover, while the govern¬
ment "hires the money" from the reserve fund, the
raised
have
retire the
to
the bonds must be
on
principal of the debt, "but the
remain
will
interest
paid
A future generation will not
by taxation.
annual
an
charge.
Future
generations will pay 60% of the cost of annuities
in
one
way
and make up the other 40% in another
by paying interest on the reserve...
tion will have to meet the cost of
taxes it pays are
Then
interest.
there
the
to
would be
Each genera¬
.
.
pensioning its own
it makes little difference whether the
aged, and
used directly for pensions or for
point," the report asks, "is
wThat
$50,000,000,000
One
fund?
reserve
put to it to give a reasonable answer."
and "snooping" insepar¬
The Federal bureaucracy
able from
prying into the personal records of 26,-
000,000 workers and keeping track of their changes
of residence or
occupation
were
properly condemned
by Governor Landon, as was the unemployment in¬
for which the Social
surance
In his
vides.
takes that
whole
States, where the mis-
made will be local and limited and the
are
country will not be involved.
of needy persons over
in
Security Act also pro¬
opinion, insurance against unemploy¬
should be left to the
ment
65 years of
For the relief
he advocated,
age
general terms, a plan of Federal aid which could
be administered
the
by the States, but stipulating that
plan should be "on a pay-as-you-go basis"
the
hostility to this nonpartisan
He appreciated, he said, Mr. Winant's
a citizen, not only to clear up
so
that
misinterpretations of the Act,
'constructive provisions'
oppose spurious substitutes.", The
actively to defend the
but
of the Act and to
suggestion that "many and important changes" in
were looked for comes late.
The Act had
the Act
been in effect for more
and its grave defects and
injustices had been more than once
pointed out,
preparations to enforce it"without change had
meantime been actively made, and if there was any
but
of its essen¬
thought of seeking amendments to any
public had been left in ignorance
the trenchant criticisms have gone var¬
tial features the
With
of it.
ious alternative
proposals, but to call any of them
"spurious substitutes" is to strain the
controversy.
amenities of
.
proposal of the New Jersey Social Security
constitutionality of the Act
The
Commission to test the
in the Federal
courts, provided a legislative appro¬
stirred
priation for the purpose is forthcoming, has
regarding the possible outcome of
comment
some
such
According to the
suit.
a
Chairman of the
Commission, the Act is opposed not only because of
a
belief that it is
unconstitutional, but because it
"unduly and unfairly taxes the
is
industrial worker,"
"excessively expensive," and takes the control of
plan from the State "and centralizes it in
the
whether, in view
ment."
Doubt has been expressed
of
decisions of the Supreme Court, a
some
State
a
the
political bureaus in the Federal govern¬
of
hands
the
against
allowed,
United
suit by
would
States
be
whether, since a State is not bound to
or
offered notwith¬
it would be
under if it declined, the constitutional rights of the
State are infringed.
These and other questions will
accept the Federal grants that are
standing the financial disadvantage
doubtless reach the courts in due time.
Doubt about
constitutionality of the statute, however, does
the
not in any way
attack.
don's
Twentieth
lessen the force of Governor Lanof the report to the
With the aid
Century
Social
Fund he has put the
Security Act on the defensive, and more than par¬
tisan
is
rejoinder wilLbe needed to show that the Act
not, as he has plainly said, "unjust, unworkable,
stupidly drafted and wastefully financed."
costing, that the required funds should
are
be raised
by
special tax earmarked for the
a
Attacking the Trade Barriers
pur¬
The first reaction to the
and that the tax should be visible and direct
pose,
and
widely distributed.
Governor
cussions in
charge
the
that
was-"a
Landon's
attack
immediate reper¬
had
Administration circles.
that
security"
to
call
the
"a fraud
was
tax
on
on
payrolls
by the
"social
the workingman" and
saving which it forced
cruel
Stirred
upon
the workers
hoax," the Chairman of the Social
the abolition of
France, on Oct. 3, was undoubtedly a feeling of satis¬
faction
over
of some,
ber of years
of
the apparent prospect
opening European markets to a freer flow of
goods.
Taken in connection with the devaluation
franc which
had long been foreseen, there
Hampshire, resigned in order
seemed much reason for
to defend the
which Governor Landon had
mercial
a
campaign issue.
accepting the resignation
President Roosevelt, in
on
Sept. 30, echoed Mr.
Winant's statement that he had
the Act
was
"without
never
assumed that
fault", but had "assumed and
hoped that time and experience might dictate
a num¬
have impeded international trade, and
lican Governor of New
made
of getting rid
at least, of the obstacles which for
of
measure
lowering of tariff duties
certain quota restrictions by
Security Board, John G. Winant, formerly Repub¬
even
than thirteen months when
President Roosevelt wrote,
country may know from year to year what the
pensions
and
partisan
legislation."
be
interest which is to be
of
misconceptions and
temptation."
forced
have fanned the
passions of a political campaign
flames
wish "to be free as
ing special bonds to the trust
Governor Landon's
Winant's "regret that the evanescent
he shared Mr.
hand each year that can
and more of extra cash on
changes," and declared that
and important
many
billion dollars
balanced, "the fact that there is a
be made
2271
Chronicle
the
era
had
concluding that
opened in
a new com¬
whose benefits many
expected eventually to share.
countries
might be
The tariff
cuts, ranging j!rom 15% on manufactured
articles to
17%%
on
those partly manufactured and
20% on raw materials, were substantial, and with
them went the removal of more than 100
quota re-
S
2272
The effect upon
strietions.
the
of
cost
Financial Chronicle
living
Lower duties
and
such articles
on
as
tea, coffee, pepper
only by customs duties and only according to the
customs nomenclature that League experts have pro-
was
lifting of quota restrictions from cutlery, glass,
tariff
machinery would lower the
textiles and
protection which some industries had enjoyed,
appointment of
commission to control prices,
a
however, and of another to study the tariff situation
as
whole, indicated
a
League, stated that what France had done was to
"draw up a new customs tariff from which quotas
are excluded, and which will protect her own market
interfering with French industries, while
pottery,
The
.
pointed out, would affect living costs
oil, it
without
the
French industries and
of course, problematical,
was,
Oct. 10, 1936
the part of the
a purpose on
posed."
It
evident, however, he added, that
was
"such a tariff will be put in force only if the example
we have already given is followed; that is, if all
countries understand the absolute necessity of overcoming the disparities in prices that are the underlying cause of the innumerable obstacles blocking
They must be attacked simul-
Blum Government to avoid action which would bear
international trade.
heavily
taneously and can be solved only simultaneously."
either producers or consumers notwith-
upon
standing the impetus that might be given to foreign
*
trade.
The action
of
Italy, two days later, in removing
certain trade restrictions at the
lira
devalued gave
was
method
time that the
same
added encouragement.
the
would be
adjusted for articles whose consumption
was
removed
be
to
of the Minister
discretion
with
a
be
large,
altogether in the
of Finance and Premier
Mussolini, and the barter system
done away
was
No other European countries, at this
entirely.
as
given by the Geneva correspondent
of the New York "Times"), "that quotas and
change controls
were
originally justified
elsewhere, and therefore should
was
itself had the effect of
that
as
restrictions
as-
revaluation spreads, trade
currency
be modified also.
may
busily erecting is to be welcomed, although
nothing
remotely resembling free trade
even
read into the
that the actual
ever,
be
effect upon trade cannot be
both
France
and
be fixed.
may
In
Italy the reductions have been
accompanied by devaluation
of the
cur-
Great Britain and France, in other words, are far
they
or
tariffs
The im-
and tariff to meet them,
from seeing eye to eye
which
have been
or
abolished.
were
Great Britain reserved the right to adjust its
rency
tions.
duties
that British
plication appeared to be that if quotas continued,
gathered by taking account merely of the rates at
new
was
would not be further devalued
currency
It is obvious, how-
arrangements.
new
can
devaluation
automatic increase in
an
All that could be promised
raised if quotas elsewhere
Any breach in the tariff walls which Europe has
been
go once
mef by devaluation, especially since devaluation
tariff."
natural to
ex-
being
as
in gold bloc countries to meet devaluation
necessary
ing tariffs and quotas^ but it
sume
He denied that
to have said, in substance (we quote a summary of
his remarks
writing, have followed Italy and France in adjustseems
The reply of the Brit-
not encouraging.
was
impossible unless others cooperated, and is reported
were to
were
delegate
ap-
rigorous control of prices, import quotas
restrictions
ish
the abolition of quotas and exchange control was
In addition to
same.
ready to act, but that it must
not be expected to act alone.
The
different, but the general result,
was
parently,
The clear implication of this statement appeared
to be that France was
What
in the matter of trade restric-
appeared like
effort to show that
an
somewhat in accord took the form of
were
submitted jointly
resolution,
on
Tuesday
a
by the
of the
British and French delegations, "noting with satis-
country, and the extent of the effect upon import
faction" the monetary declarations of Great Britain,
prices, and hence
France and the United States
is to be found
the volume of import trade,
upon
by comparing the
tions and the
duties.
new
money
new currency
It is clear at
valua-
once
that
the "general
on
Sept. 26, affirming
desire" of members of the League to
re-establish stable economic relations and promote
an
approximately 30% devaluation of the franc is
international trade and
not
fully offset by
members of the League or not, to "cooperate fully
and that
a
similar
a
20% reduction in certain duties,
discrepancy
may
be found to exist—to that end," and urgently recommending prompt
in
Italy, where the devaluation of the lira amounts
to
nearly 41%.
doubtless
inviting all States, whether
A sweeping removal of quotas will
greatly aid the trade movement in various
action "to reduce excessive obstacles to international
trade and communications and, in particular, to relax and
as
concerned it
terns of
quotas and exchange control."
necessary to calculate for each article, iff
comparison with the devalued currency, the actual
nothing
commodities, but
will
as
duties
are
be
amount
the
far
as
of
relaxation
that has
been
afforded
and
precise amout of protection that remains.
The
general spread of
moreover,
nomic
depends
a movement
political
upon
well
considerations, and is closely bound
the currency question.
as
up
or
that
a
with
At this point the proceed-
general extension of tariff reduction
quota abolition
was
willing to cooperate,
to
continue in the
gent upon the
The
outlook
tariffs
possible unless nations, were
or
that the ability of France
course
it had
begun
was
contin-
stability of the Blum Government,
for
extended
cooperation,
in
either
or
currency, has not seemed bright.
On Monday the French Finance Minister, Paul Bastid, at
a
meeting
of
the
Economic
Commission
of
so
possible abolish the present
general in its terms
more
although
cated,
eco-
ings of the League of Nations during the past few
days are instructive.
No argument was needed to
show
and
was
as
than
a
as
sys-
The resolu-
to amount to
benevolent recommendation,
delegates
of
several
countries
rec-
ognized the need of moving in the direction indi-
for freer trade,
as
tion
soon
the
none was
prepared to follow the French lead,
Nothing will be gained by minimizing the difficulties in the way of bringing about greater freedom of international trade.
in
lowering duties
was
taken
The action of France
and abolishing import
only after France, with the
quotas
assurance
of
support from Great Britain and the United States,
had
devalued
the
franc.
Precisely how far Great
Britain and the United States
are
prepared to go
in supporting the franc, or how long the present
agreement will hold, are questions which cannot
be answered.
now
The other European countries which,
largely from necessity, have readjusted their
own
currencies, will be likely to proceed cautiously in
(continued
on paffe
228O)
Volume
143
Financial
Flotations in the United States During the Month of
and for the Nine Months Ended September 30
The New Capital
The
appeals to the investment markets of
capital
new
larger than those
the United States during September were
of
during August, our compilation revealing a grand total
$408,959,275
corded in
with
166,331
in
$419,781,649
with
$1,002,692,011 for April.
$767,415,683;
it
of
with
and
$302,858,716,
was
$229,970,239
comprised
September
May,
for
in
and
Refunding operations for the
January it was $411,631,104.
month
with $731,-
March the grand total was
In
February
in
re¬
will fall due June 16,
the
of
out
raised
during
of
benefit
the
reader
the
trading
and
For the
On
bills.
$400,000,000,
The details in respect to these
In view of the magni¬
offerings are recorded further below.
importance of United States Government borrow¬
tude and
ings, we give below a summary of all Treasury issues mar¬
keted
September,
during
issues
and
presenting
record
complete
a
were
New
$50,000,000,
Aug. 28
on
Mr.
Morgenthau
The
bills
bills
was
on
a
bank discount basis.
Sept. 25 announced a further
on
were
dated
30
Sept.
and
dated
were
$50,018,000
Sept.
for
2
offering
Issued to replace
The
99.887, the average rate
was
In
the
following we show in tabular form the Treasury
results show that the government
of which $4,485,949,900 went to take up
$2,880,441,450 represented
For
September by itself,
156,050,
which
of
0.149%.
These
replace
bills
a
The
existing issues and
addition to the public debt.
an
the disposals aggregated $1,232,-
$762,190,800
constituted refunding
UNITED
STATES TREASURY FINANCING
DURING THE FIRST NINE
MONTHS OF 1936
Amount
Dated
2 Jan.
9 Jan.
16 Jan.
23 Jan.
Due
8 273 days
15 273
days
22 273 days
29 273 days
Amount
Applied for
Accepted
132,204,000
190,515,000
212,610,000
170,307,000
Janua ry total
Price
60,060,000 Average
60.050,000 Average
50,130.000 Average
60,074,000 Average
30 Feb.
6 273 days
192,133,000
50,296,000 Average
Feb.
4 Feb.
11 273 days
Feb.
13 Feb.
19 273 days
26 273 days
184,569,000
143,432,000
98,970,000
50,545,000 Average
50,100,000 Average
50,000.000 Average
similar amount of matur¬
nounced
a
Secretary
of
will fall due June
9, 1937.
price of the bills
basis
was
being
an¬
thereabouts,
or
of
Tenders to the offering totaled
99.901, the
0.130%.
accepted.
was
The aver¬
average rate on a
The
bills
will
bank
replace
a
similar amount of maturing bills.
Mr.
of
Morgenthau
and
par
accrued
20-23-year
Sept. 8 announced
on
interest,
2%%
new
a
$400,000,000,
of
Treasury
bonds of
offering, at
thereabouts,
or
1956-59,
with
the
right reserved to the Secretary of the Treasury to increase
the
offering by
for
tions
which
The
an amount
which
sufficient to accept all subscrip¬
1%% Treasury notes of
matured
Sept.
1935,
15,
Treasury bonds of 1956-59, Which
and
in
exchange
may
States
and after
on
be
for
at
both
which
offered for
cash
announced.
tion
which
were
were
cash
or
Treasury
of
offered for
of
the United
exchange,
were
totaled
allotted.
Sub¬
thereabouts, of the 2%%
allotted
Mr. Morgen¬
$469,965,250
bonds
allotted
closed
^n
in
were
full.
of
in amount of $511,The
cash
subscrip¬
Sept. 8, the day they
were
oversubscribed 13 times.
financing provided for the refunding of $511,860,800
maturing notes, leaving $469,965,250 as new public debt.
Secretary of the Treasury Morgenthau
nounced
a
new
offering of $50,000,000,
273-day Treasury bills.
The bills
were
or
on
Sept.
11
an¬
thereabouts, of
dated
99.919 *0.107%
99.924 *0.100%
99.929 *0.094%
09.926 *0.098%
5 Mar. 11 273 days
Mar. 12 Mar. 18 273 days
Mar. 19 Mar. 25 273 days
Sept. 16 and
50,010,000 Average
109,838,000
99.937
100
5,603,388,750 1,223,502,850
100
670,704,100
3,402,542,800
99.921
50,000,000 Average
123,071,000
99.921
50,025,000 Average
129,255,000
60,085.000 Average
99.911
147,495,000
Marc h total.
Mar. 26 Apr.
Apr.
Apr.
May 21 May
May 21 May
202 days
273 days
total
216 days
273 days
209 days
273 days
June
4 June
188 days
June
4 June
June 11 June
273 days
181 days
June 11 June
273
174 days
273 days
28 June
28 June
June 18 June
yrs
5 years
195 days
273 days
days
July
273 days
273 days
July
July
273 days
July
273 days
113,830,000
133,883,000
116,172,000
135,202,000
146,116,000
154,933,000
179,143,000
167.814,000
169,959,000
141,262,000
total...
*0.126%
99.914 ♦0.113%
99.933 *0.089%
5 273 days
6 Aug. 12 273 days
July 30 Aug.
Aug. 20 Aug. 26 273 days
169,772,000
155,235,000
182,740,000
197,603,000
total.
Aug. 28 Sept.
Sept. 4 Sept.
Sept. 8 Sept.
Sept. 11 Sept.
Sept. 18 Sept.
Sept. 25 Sept.
50,102,000
50,005,000
50,111,000
60,000,000
50,005,000
50,050,000
50,060,000
Average
Average
Average
Average
Average
Average
Average
99.924
99.905
*0.123%
*0.125%
99.909 *0.151%
99.858 *0.188%
99.910 *0.156%
99.863 *0.110%
99.902 *0.175%
99.848 *0.200%
,626,937,850
503,958,500
60,090.000
50,295,000
50,140,000
60,035,000
60,018,000
50,012,000
50,050,000
50.008,000
100
100
Average
Average
Average
Average
Average
Average
Average
Average
2.75%
1.375%
99.900 *0.184%
99.835
*0.218%
99.902 *0.187%
99.826 *0.230%
99.904 *0.191%
99.816 *0.242%
99.912 *0.183%
99.818 *0.240%
50,015,000
60,000,000
50,052,000
50,000,000
50,047,000
Average
Average
99.855 *0.191%
99.949 *0.067%
Average
99.946 *0.071%
99.913 *0.115%
Average
99.830 *0.224%
Average
99.825
99.839
99.853
99.871
Average
50,019,000
60,090,000
50,064,000
50,046,000
Average
Average
Average
*0.230%
*0.213%
*0.194%
*0.170%
200,219,000
273 days
273 days
20-23 yrs,
273 days
273 days
273 days
8epte mber to tal.
Average rate
60,024,000 Average
250,114,000
Aug. 13 Aug. 19 273 days
t
99.904
99.924 *0.100%
99.929 *0.093%
2.531,544,350
273 days
*
5,237,987,200
2,841,455,900
146,415,000
134,960,000
152,610,000
total.
June 25 July
Augus
Average
Average
Average
Average
Average
400,357.000
15-18
27 June
27 June
Aug.
94,599,000
93.918,000
187,941,000
125,607,000
140,735,000
161,330,000
131,565,000
148,465,000
-.
May
May
May
May
July
50,028,000
50,196,000
50,008,000
50,077,000
60,110,000
250,419.000
223 days
273 days
July
2
July
9
July 16
jUly 23
137,648,000
201,805,000
150,991,000
146,908,000
117.748,000
total.
Apr. 30 May
Apr. 30 May
May
7 May
May 7 May
May 14 May
May 14 May
May
*0.084%
2.75 %
1.50%
*0.104%
*0.104%
*0.118%
2,100,326,950
1 273 days
8 273 days
Apr*
Apr. 15 273 days
Apr. 16 Apr. 22 273 days
Apr. 23 Apr. 29 273 days
April
99.928 *0.095%
99.934 *0.087%
99.941 *0.078%
99.944 *0.074%
200.941.000
27$ days
Mar. 16 12-15 yrs
Mar. 16 5 years
June
and
The exchange subscriptions of the
new
opened, the offering having been
This
option
totaled $5,129,722,700,
subscriptions.
books
the
$981,826,050
The
maturing notes for the
860,800,
were
Sept. 15, 1956.
scriptions for the $400,000,000,
the cash
pay¬
Treasury notes which matured
redeemed
subscriptions,
$5,641,583,500, of
bonds
D-1936,
in
dated Sept. 15 and will mature Sept. 15,
were
1959, but
The
series
tendered
were
accepted.
Sept. 15,1936,
thau
Mar.
4
June 18 June
ment and
cash
Feb. 27 Mar.
The bills were dated Sept. 9 and
$140,137,000, of which $50,147,000
discount
Morgenthau
Treasury
the
offering of $50,000,000,
new
273-day Treasury bills.
age
Febru ary tota
Mar.
4
Yield
200.314,000
Jan.
Mar.
Sept.
and
$469,965,250 represented an additional public debt.
which
of
ing bills.
On
The
disposed of $7,366,391,350,
of
bank discount basis being
on a
mature
financing done during the first nine months of 1936.
of the bills
price
average
will
maturing bill issue of
a
2, 1937.
June
$176,162,000,
totaled
accepted.
was
mature
will
and
bills
the
new
The average price for
accepted.
Feb. 20 Feb.
bills
Application
Issued to
99.859, the average rate on a discount basis
being 0.186%.
Jan.
thereabouts, of 273-day Treasury bills.
or
The average
Tenders to the offering totaled $141,680,000,
30, 1937.
Jan.
an
mature
offering of $50,000,000, or thereabouts, of 273-day Treasury
Jan.
announced
will
replace maturing bills.
Jan.
Morgenthau
and
$50,022,000 was accepted.
0.156% per annum
Offered
September, 1936
Mr.
23
Sept.
in that
.
the Month of
Treasury Financing During
dated
price for the bills was 99.881, and the average rate about
DaU
respect for the nine months ended Sept. 30.
new
Applications for the offering totaled $132,-
furnishing full particulars of the
eight preceding months,
various
during the
those sold
also
and
bills
1937.
of which'
397,000,
the usual
thereabouts, of 2%% 20-23-year
or
Treasury bonds of 1956-59.
announced another
the same amount.
ing comprised five Treasury bill issues sold on a discount
basis and
The
June 23,
of which $50,121,000 was
and
The month's financ¬
month of September.
Morgenthau
the
Government issues appeared in
States
United
Mr.
by holding,
publicly-offered governmental agency issues.
order during the
18
States
by
and domestic, and also farm loan
municipalities, foreign
and
Sept.
bills.
and
0.146%.
offering of $50,000,000, or thereabouts, of 273-day Treasury
June
companies,
The aver¬
rate on a
Issued to replace maturing
bills.
compila¬
our
basis being
discount
comprehensive, and include the
very
note issues by corporations,
and
bond
stock,
$178,989,036.
at
mention here that
we
tions, as always, are
investment
month
Tenders to the offering totaled
1937.
price for the bills was 99.889, the average
age
grand total of $408,959,275, leaving the strictly new capi¬
tal
September
$104,697,000, of which $50,022,000 was accepted.
These figures compare
$338,382,702 for July;
total of
June;
$295,554,577
against
as
August tabulations.
our
grand
a
September
for
2273
Chronicle
on a
176,162,000
140,137,000
5,641,583,500
104,697,000
132,397,000
141,680,000
.....
50,018,000 Average
50,147,000 Average
981,826,050
50,022,000 Average
50,022,000 Average
50,121,000 Average
J 1,232,156,050
bank discount basis.
100
99.887 *0.149%
99.901 *0.130%
2.75%
99.889 *0.146%
99.881 *0.156%
99.859 *0.186%
Financial
2274
Oct.
Chronicle
10, 1936
one
for $17,300,000 1st
mtge. & ref. 4s C, Oct. 1, 1966, and the
USE OF FUNDS
other for $4,000,000
States Utilities Co.,
by Gulf
iugs
~—
Total Amount
Type of
Jan.
15-.
22.
29..
$200,314,000
$50,296,000
50,545,000
50,100,000
50,000,000
$50,091,000
50,545,000
50,100,000
50,000,000
$205,000
$200,736,000
$205,000
$50,010,000
1,223,502,850
676,704,100
50,000,000
50,025,000
50,085,000
$50,010,000
996,553,400
Treasury bills
Jan.
50,074,000
Treasury bills
Jan.
$50,060,000
50,050,000
50,130,000
Treasury bills
Treasury bills
Total.
Feb.
6.
Treasury bills.
Feb.
11.
Treasury bills.
Feb.
19.
Treasury bills
Feb.
26.
Treasury bills.
Total.
Treasury bills
4
2% % Treas. bonds.
Mar. 16—f,
Treas.
Mar. 16
notes.
::::::::
--------
Treasury bills
Mar. 18
Treasury bills
Mar. 25
Treasury bills
Total-
903,653,550
Apr. 22.
Apr. 29.
Total.
$50,102,000
Treasury bills
Treasury bills
$50,024,000
Treasury bills
50,005,600
May 13
Treasury bills
Treasury bills
50,000,000
::::::::
May 27
...
Co.
conv.
pref.
Phillips
stock, offered at $30 per share.
common
issues
utility
following:
the
by
featured
were
1st mtge. 3%s,
^ 1966> placed priVately; $28,000,000 Louisville Gas &
Co.
ref.
&
1st
3%s,
mtge.
Sept. 1,
1966, sold at
Detroit Edison
& ref. mtge. 3%s G, Sept. 1, 1966, floated at 105,
about 3.23%, and two offerings for the account of
102%, to yield about 3.35%; $20,000,000 the
Co. gen.
yield
Utilities
States
Co.,
for
one
$17,300,000 1st mtge. &
1, 1966, placed at 103, to yield about 3.83%,
the other for $4,000,000, 10-year deb. 4%s, Oct. 1, 1946,
ref. 4s C, Oct.
priced at 102%, to yield about 4.19%.
s,n ft2.
'
nnn
'
There was but one railroad issue offered in September
worthy of mention, namely, $20,000,000 Union Pacific RR.
50,071,000
c0> 34-year deb.
50,045,000
49,960,000
about 3.52%.
50,005,000
50,050,000
50,060,000
5%
offered at par, and 296,631 shares
50,045,000
Treasury bills
Treasury bills
May 27
gept
and
50,102,000
Treasury bills
May 20
Public
Gulf
50,111,000
May 20
flotations worthy of mention were
110,000 shares of American Chain Co., Inc.,
to
$250,419,000
6
May
6
May 13
May
at
and miscellaneous
Electric
$50,028,000
50,196,000
50,008,000
50,077,000
50,110,000
$250,419,000
1.
8.
Apr. 15.
Steel Corp. cons. mtge. 3%s E, Oct. 1,
98%, yielding about 3.83%.
Other indus-
$38,000,000 Kansas City Power & Light Co.
$903,653,550
$50,028,000
50,196,000
50,008,000
50,077,000
50,110,000
1966, priced
Petroleum
""III!
bills.
bills.
bills.
bills.
Treasury bills.
month was that of
BethleAem
stock, publicly
50,000,000
50,025,000
50,085,000
Treasury
Treasury
Treasury
Treasury
largest corporate offering of the
$55,000,000
trial
$2,100,326,950 $1,196,673,400
Mar. 11
Apr.
Apr.
The
$200,941,000
8..
$50,060,000
50,050,000
50,130,000
50,074,000
$200,314,000
Jan.
Mar.
10-year deb. 4%s, Oct. 1, 1946.
indebtedness
Refunding
Accepted
Security
Doled
'-There were no farm loan emissions, and no foreign securi-
50 ' 060 ' 000
50,050,000
3%s, Oct. 1, 1970, offered at 99%, to yield
description were floated in this country during
ties of any
——————September
$200,115,000
$200,242,000
Total.
$400,357,000
June 15.
June 15.
2'A% Treas. bonds. $1,626,937,850
1 ys% Treas. notes
503,958,500
June
3.
Treasury bills
50.295.ooo
3.
Treasury bills
50,090,000
50,295,000
50,090,000
June
June 10.
Treasury bills
50,140,000
50,031,000
50,144,000
,1,024,865,700 $1,106,030,650
.
'
'
Treasury bills
50,035,000
June 17.
Treasury bills
50,018,000
50,015,000
50,015,000
June 17.
Treasury bills
June 24.
Treasury bills
50,040,000
ou.u
June 24.
Treasury bills
50,012,000
50,050,000
50,008,000
June 10.
July' 1
Treasury bills
$50,015,000
Treasury bills
50,000,000
50,052,000
50,000,000
50,047,000
Chain
110,000 shs. American
Co.,
$250,114,000
o.uuu
vertible into
$50,019,000
50,090,000
50,064,000
50,046,000
$200,219,000
from
Oct.
Treasury bills
Treasury bills
July.. 29
Total.
Treasury bills
5..
Aug.
Aug. 12
Treasury bills
Aug. 19...
Treasury bills
Aug. 26
Treasury bills
Total.
2
9
Sept. 15
Treasury bills
Treasury bills
Sept. 16.
Treasury bills
50,022,000
Sept. 23
Treasury bills
Sept. 30
Treasury bills
50,022,000
50,121,000
2%%
bonds
Treas.
Con¬
complete summary of the new financ¬
ing, corporate, State and city, foreign government, as well
as farm loans issued during the month of September, and
nine
the
months ending
SUMMARY
OF
CORPORATE,
AND
with September:
GOVERNMENT,
FOREIGN
FARM
LOAN
MUNICIPAL FINANCING
New Capital
"Month
Total
Refunding
$
$
of September—
5
Corporate—
Domestic—
469,965,250
48,392,000
156,233,000
204,625,000
7,439,936
18,757,874
18,694,330
533,000
26,134,266
19,290,874
74,589,810
175,460,330
250,050,140
103,899.226
Long-term bonds and notes
54,509,909
158,409,135
500,000
229,970,239
408,959,275
Short-term
Preferred
stocks
Canadian—
$469,965,250
$762,190,800
Long-term bonds and notes
Short-term
$7,366,391,350 $4,485,949,900 $2,880,441,450
total.
Grand
15, 1946 at
shares of common stock during one year
1936; 3 shares during the two years following,
Common stocks
$1,232,156,050
Total
The following is a
$50,018,000
50,147,000
511,860,800
60,022,000
50,022,000
50,121,000
$50,018,000
50,147,000
981,826,050
Sept.
Sept.
Con¬
pref. stock.
cony.
3 1-3
1,
$200,219,000
Treasury bills
5%
shares thereafter.
and
$250,114,000
$50,019,000
50,090,000
50,064,000
50,046,000
15
22..
Inc.,
vertible into common stock on or before Sept.
prices ranging from $66 2-3 to $80 per share.
cerns nnn
$50,015,000
50,000,000
60,052,000
50,000,000
50,047,000
July
during
offered
were
63,806 shs. Eastern Steamship Lines, Inc., $2 conv. pref. stock.
July ' 8.
July
trusts
There were two conspicuous corporate offerings made in
September carrying warrants, or a convertible feature of
one kind or
These issues were as follows:
$2,531,544,350 $1,225,041,700 $1,306,502,650
Total.......
investment
fixed
new
September.
Preferred
stocks
Common stocks
Features
Other foreign—
Corporate Fimncing
of September
Long-term bonds and notes
Short-term
offerings
September, we note that public utility
for $121,050,000, which compares with
Making further reference to the new corporate
announced
during
accounted
issues
$43,472,635 for that group in August. ' Industrial and
against
$104,525,140
totaled
issues
cellaneous
mis¬
September
in
as
Preferred
Total corporate
Other foreign government
Farm Loan and Government agencies...
*
railroad
during
Corporate—
Domestic—
$250,050,140, of which
stated,
already
as
178,989,036
9 Months Ended Sept. 30—
corporate securities of all kinds put out
The total
September was,
500,000
Grand total
compared to $51,500,000 recorded for August.
as
Municipal—States, cities, &c
United States Possessions
them in
reported for
_•
Canadian Government
August, while
financing in September amounted to $24,475,000
$137,465,323
stocks
Common stocks
563,836,560 2,362,036,340 2,925,872,900
54,470,000
35,762,500
18,707,500
Long-term bonds and notes
Short-term
$204,625,000
comprised
stock flotations.
represented
corporate
flotations
$175,460,330,
or
total.
the
583,078,
was
In
or
July
$267,385,450,
April it
was
March
it
than
more
or
more
was
71% of the total.
than
or
more
$536,936,945,
or
87%
of
30,000,000
38,000,000
Short-term
Preferred
stocks
Common stocks
Other foreign—
Long-term bonds and notes
Short-term
Preferred
•
stocks
Common stocks
In May it
the
than
204,097,312
138,187,518
8,000,000
Long-term bonds and notes
$224,-
In
total.
than 82% of the total;
more
143,675,230
11,371,743
60,422,082
Common stocks
than 26%
In June it was
of the total.
more
$559,871,977,
was
or
126,815,775
stocks
Canadian—
In August
of the total.
refunding portion
the
Preferred
refunding operations was
to
than 70%
than 76%
more
or
$375,755,755,
in
devoted
more
refunding portion was $61,639,147,
the
of
$45,425,140
The portion of the month's
and
issues
long-term
90% of the
Total corporate
Canadian Government
Other foreign government
Farm Loan and Government agencies...
*
Municipal—States, cities, &c
United States Possessions
777,781,917 2,582,845,813 3,360,627,730
48,000,000
48,000,000
55,000,000
55,000,000
21,900"666 321,198,600 343,098,600
873,264,397
.568,383,709
304,880,688
1,750,000
3,325,000
1,575,000
total; in February it was $181,140,575, or about 93% of the
1,369,640,626 3,313,675,101 4,683,315,727
Grand total.
ffttal, while in January the refunding portion
972,556,
or
approximately 73%
September
(1935)
767,000,
or
nearly
portant
refunding
used
amount
for
City
refunding
$200,In
total.
of that month's
was
Im¬
of
1936,
issues
sold
during
Power & Light
Co.
as
1st
September
follows:
mtge.
$38,000,000
3%s,
$28,000,000 Louisville Gas & Electric Co.
*
Sept.
1,
1st & ref.
& ref. mtge 3%s G,
Pacific
RR.
Sept. 1, 1966; $20,000,000 Union
Co., 34-deb. 3%s, Oct. 1, 1970, and two offer-
funds obtained by States and municipalities from
the Federal Government.
In the elaborate and
comprehensive tables
on
the succeed¬
ing pages we compare the foregoing figures for
1936 with
corresponding figures for the four years preceding,
thus affording a five-year comparison.
We also furnish a
detailed analysis for the five years of the corporate offer¬
the
ings, showing separately the amounts for all the different
corporations.
classes of
mtge. 3%s, Sept. 1, 1966; $20,000,000 the Detroit Edison Co.
gen.
These figures do not include
any agency of
$230,-
84% of the total for that month.
entirely for refunding, "were
Kansas
1966;
the
was
Following
of
the
every
new
the full-page
tables
we
give complete details
capital flotations during September,
including
issue of any kind brought out in that month.
10,820 450, 0 ~350"6
Total
1932
10,820 60, 0 40,0 00",64,03 46 138,964
450, 0
Refundi g 3,8 2,0
4,3 2,0 40, 0 6,0 9,736 50,41736
6,20 , 0 "350*6 6
Capital
6,5 0, 0 20, 0 4,o "6 5 57,964730 8,514730
New
Total
I
-
1933
$
3,862,0 13,9 20 82,5910",
Capit l
—
_
—
New
350, 0
350, 0
6,20 , 0
3,862,0
3,862.0 13,92"60
10,820
450, 0
4,3 2,0
70 ,0 0
5.8 0,6
6,5 0, 0
Refundi g 3,862.0
3,862,0 13,92"60
- 13,920
$
$
1933
8,91 ,250 18,"O ",65O 37,28610 64,197356
Capital
-
17,8540
•
8,91~l",
250
8,91 ,250
1,50b",56 2,30 , 0 13, 870 1.30 , 05
1,50 ",65 17, 8 0
8,91 ,250
8,91l",250
•
26,7520
3,862,0 656,13"9 2",
_
_
_
•
--
$
_ 8,91 ,250 3,862,0 13,9 26 8295, 10~,
8,91 ",250
_ 13,920
Total
17,8540 12,"o ,6 953,849 30,87 49
8,9l" ,250
$
Capital
450, 0
70 ,0 0 45o~,6
New
26,7520 30,b"o ,0 38,29 5 95,0 .205
Refundi g 3,862,0 13,9 20
70 ,0 0
5, 0 , 0
450, 0
350, 0
450, 0 35016 6
3,8 2,0
Refundi g 3,8 2,6
$
1932
450, 0
9,732,6
3,8 2,0
10,820
70 ,0 0
9,382,0
Total
New
**
"t
Total
$
14,3870 50 ,0 0 2,30",6
17,8 0 13,'O" ,65 40,81964 71,06 94
Total
$
1,20,0 13,870
50 ,0 0
~5"O ",6
14,3870
"806",6 0
1,20 0
-
1934
-—
-
-
'
i
TFSMOFYIENPAHIAVCRRBG
GFLAMOUVNERICDMPLT,
CFOORRPEIGANT,
Capit l
$
[
4,387,0 50 ,0 0 2,30",0
7,187,0 32,106",16 39,23016
271,39.0
Refundi g
630, 0 1,0 ,0 2,8 6,920
_ 275.83,920 12,70",0 148,7064
29,1370
Total
Capital
31,7 68
.
New
1935
13,0 0 8,713.678
— 10, 0
Refundi g 10, 0
630, 0
230,76 0 12,7061 21, 716 264,78 16
1,0 ,0
_ ,08692
,260 ,82690
$
aogenfcy
',6581924 ,7458
_
any
45
42
2
172
127
>
New
_
_
Total
1936
Refundi g
SOUM FARY Capital
New
%
%
$
50 ,0 0
204,6250 26,13426 19,20874
250, 140 158,409"135 408.95,27
53 ,0 0
175,4603 54,09 29,70239
156,23 0 18,694",30
50 ,0 0
48,3920 936 18,75 874
74,589 10 103,89"26 178,9 036
7,439",
FYEIVARS
TFMOSFEPHTNREBR
FGtoevhedrnmeratl. CTIUSOSRNTHNPAIUEEATDE
AOGRNUFPDIN
437,24560
from
10. ,0
'
Capital
%
I-.
Total
Other
Other
*
Farm
I
.1
50 ,0 0
"5~O" ,6
4,387,0
1,20 , 0 3,187,0
"~8 O~ ,6
1,50 ,6 7,187,0
1,50 6 2,30,0 1,20,0 3,187,0 1.30,60
-
New
_
"630",0
630, 0
2,549,26 1,20 ", 0
"630",0
630, 0
Total
$
16,50 0 164,720 24,0 0 01,2500",65,0 0 475,0 — 271,39 0
—
Refundi g 7,50,0 14,8720 1,7650 65,"O ,0
_
$
1935
Capital 0OOO.0 235,0 0
$
Q
New
io.s on
_
_
,250 475~,6
f
29,1370
,260
J
75,0 0
3,826,920 16,50 0 164,720 26,549 20 8.0 2.6 5 65,07 0 475,0 0
-
920,549", 202",0 0 75,0 0
-
2
275,83920
1,0 ,0 7,50 , 0 14,8720 1,7650 10,6300",65,0 0
1,bo ",0
-
230,76 0
,82690 ,0 ,30 ,784920 ",452",0 75,0 0475,0 0
45,086920
2
9
i
-1
19
14
42
12
'
Total
%
Refundi g 20, 0 17,05 0 14.683,0
4,50b", 0
%
1936
4,bo",0 750, 0 20,193",480 10,98 30 33,5009", 6,873",40 45,2 140 24, 750 12,05 0 5,70 2,93"480 1,098 30 4,50 , 0 3,509",3 0 8,37",40 250, 140
24,750 17,05 0 5,0 0 2,"fob,0 4,5"O ,6 1,50",0 204,650
-
-
4,bo ",0
156,23 0
Capital
New
$
4, 75,0 40",317",0 2,"fob,0
1,50b", 0 48,3920
^
Oil
Land,
Inv.
Public Iron,
750, 0
.
Total,
Total
Other
.718,6 ,"5093 19,2730 20, 0 12,05 0 14,6830 if,718,0 4,50,0 3,509",30 175,4603
8,37",40 74,589 10
6,873",40 26,197810 4, 75,0 41,067 0 10,98 30
8,475,480 10,98 30
10,57480
5
Bonds and &c trading, Bonds b&uildcng.s,
Public Iron,
if
3
.
bSotamunicyiepnldstes SEPTMBR Noteas—nd I &cop,manufctres oimanufctrig I_ I"I_h&olcdiIng, Noatens-d2I _&cop,manufctres oi
SEPTMBR anonteds. _ anonteds. __ anonteds. Governmt governmtGoavctie,_s♦.M&unicpal—Stes,Posein ifnunclodste
_ 10, .0
_
_
^
j
•
OF Corpate— Domestic— Lbonogn-tedrmsShort-emPrefstroeckdComstocokn.Candi — Lbonogn-tedrmsShort-emPrefstroeckdComstocokn foreign— Lbonogn-tedrmsShort-emPrefstroeckdComstoockn corpateCandian foreignLoaannd USntaiteeds Gratond-al Tfdihguersoees MOFONTH Long-Term Railroads util es EquipmentMoatonrds industrial buildngsR,ub er Ship ing Miscelanous Short-TemRailroads util es Equipment toarnsd
trust , scteoall,,
sctoeall,,
MONTH
10,"ob ,65 . _
_
_
\S':-
i
j
NEW
CHAR TE
Refundig io,b~"o,6
$
1934
Mo
Oil
Land,Rub er
Ship ing
&c_-
aautiles ccsoo(tpSeel-lr,,,Eqmauniupfmtent acensodri b&uilcdn_gs, Miscelanous utiles&ccsootpea.elrl,,,Eqmuaniupfmten-t aacensodri &buildcngs, htotrraluddsiinntgg,,,Miscelanous cseocrpuritate
Stocks— Railroads Public
Total
Iron, Motors
Oil
Land, Rub er
Ship ing
Total—
Railroads
Public Iron, Motors
Oil
Land, Rub er
Ship ingInv.
Total
o>
Ut
to
to
►XI.
£3
-a
to
fcO
VQ
ft>
O
—
316,2408 175,60 7,95,275 6,14,20
Total
50,97 5 62,0 0 142,506 658,17205
692,0 0
i
1,369 8,0Q
Refundi g 98,3 50 149,37 0 1,897,320
Capit l 217,4023 26,3150 7,95,275 4,26,90
2925,8 75 ,0 0 50, 0 593,8 543 692,0 0 92,537 18
New
1933
13 ,3 2
1,60",0
Refundi g 14,8705 71,52870 32,17" 8
Capit l 23,610 16,0 0 14,7 5 80,42 83
14,9602 104,750
1,20 , 0
247,86520 50, 0 298,30 108,92563 705,9 763
1934
SFGtofevhardrgonmmunicplly.esEFYTN3MFTSIUOSICHODAVNPAHR0RPTRE.ADE
FYSTE3FMNAMFLIIOGUAVHOADNPV0RCERTRPDM.LGT,
134,7809 312, 10 573,9861
1,45 70 47,30 82,0380 1,9320
1,597 20 76,0 0 95,3 705 92,0537 4,98,0 3,5981, 3
Refundi g 1,27805 69 39,2450 49,3 80
741,36 96 6,0 0 864,593"70 35,27 81 4,30, 0 2,61 934,07
Capit l
New
Total
FCOREPIGNAT,
17,39804 8,45,0 3,470 1,93 20
230,5472 94,762 5 96,7 192 92,64791
3,60273 48,0 0 5,0 0 34,09860 873,26497 3,25,0 4,6831572
2,9587 0 54,70 204,97312 138, 7518 38,0 0
48,0 0 5,0 0 321,9860 34,806 1,750, 0
SOUMFARY
Refundi g 2,360 4 35,76250 143,675230 1,371 43 30, 0
2.58,4 13
7 ,8197 21,90 0 568,3 709 1,57,0 1,36940,26
New
3,167501
bSatnyeds
NOGARENUWFPID
7, 4 ,0
Refundi g
123,8960 734,520 149,2o6 2,4l",6 154,2 10 10,28 50 5,60, 0
7, 4 ,0
51,73 20 41,28 0 32,7543 5,"0 ,60 40,51340 4,218750 1,368,0
New
Total
1936
859,269 90 ,0 0
16,0 0 7,0 ,0 3,01,651 859",269 81,45 64 1,795,120 1,08,56 95,27.10 12,0 0 34,210 3,01,651 81,54 64 1,795,120 1,08,56
75,0 0
859,269 1,795,120 90 ,0 5,9 ,10
127,59 48 9,0450 92,18 978 2,609 51 2,0 0 18.40,564
32,17 8 87,90450 57,960 78 19,5740 12,0 0 36,895*. 5 5,9 ,16
75,0 0
~
2,958,0 6,50 , 0
80 ,0 0 50 ,0 0
250, 0
58 ,750
137,450
525,0 0 310,20
20,96 249
58 .750
40 ,0 52 ,0
10,5 0 32,8419 2 ,9601 109,850 27,06249 1,0 0 "316",20 10,75 0
16,470 6,152 0 5,26,0 10, 0
105,9 0
250, 0
58 ,750
31,50
35,813 48
525,0 0
2204,969",
21305,3,41966917780
328427,,684655290
56,13 0 42,93 80 58 ,750 21,760249 1,0 ,0 40 ,0 0 525,0 0 ~3 l6",25o10,75 0 134,780 9
"316",20 10,5 0 32,8 419
1,45 70
20, 0 5,0 ,0 6,0 ",06 4,730, 0 6,0 ,0
6,0 ,0 47,30 6,785,2 0 21,3 920 16,45370 5,075,0
4,37180 93, 7 20 175,6430 802,61 50 28,31 920 13",9416 215,94 250 15,7 0 7,028,0 58,1580 1,597 ,20
1,2780569
20, 0 5,0 ,0 2,45,0 6,0 ,0
6,0 ,0 39,2450 5,0 ,0 13,7620 1,20 0
19,37180 49,3 80 123,8960 759,420 168,076 2,41,0 167,9 10 106,281 50 5,60, 0 3,15",§6
17,39804
175,6430 75,8260 182,0 0 7,941,0 194,7650 104,5 0 7,028,0
Capit l
568,0
-.i.
75,0 0
75,0 0
73,12870 2047. 8 30,17 0
10 ,0 0
70,34590 7,0 ,0 23,0 0
Total
1935
250,14820
1,08 ,56
89,728 0 9,147, 8 3,01,651 "859",269 1 ,65 4 1,795,120 1,08,56
5,9 ,16
14,9602 63,9470 32,50 0
New
450",0
4,10 , 0 7,95 , 0 26,3150 6,4 2",175 2,091,250 2,168,750 1,50 , 0 12, 175 1 ,3250 2 ,314 75 2,091,250 7,301", 0 2,168,750 10,65 0 25,8 975
21,3061 70,9470 5,0 3,758,0 7,0 0
50 ,0 0 40 ,0 0
50,0 0
1,897,320 32,8 70 216,87 20 10 ,0 0
f,897,320
149,37 0
7,2 7,0 39,7 520 19,5740 12,0 0 5,'10 . 0 5.9 *.16
23,610 16,"5 ,6
2,308, 0 3,50 , 0
Capital 49,513 0 19,3280.
1,0287,395
Capit l 563,8 560 18,70 5 60,42 082 126,857 8,0 ,0
1936
90 .0 0
New
1,725968,1
450, 0
10 ,0 0
14,8705 7,27,0 23,9520 19,5740 12,0 0 6665,0 0",
102,5 0 13,652 0
Refundi g
$
138,49150
Refundi g 80,62750 32,5180 1,725,0
Refundi g
382,6459 50, 0 6ld,4" I6 82,91759
Capital 70,34590 31,50 2,908,0 29,7539
1935
92,6750 43,290
40 ,0 0
152,031 53,850 2,308,0 4,0 0
1,20 , 0
Neiv
98,3 50 23,50 0 125,390
1,725,0 "90 ",0
Total
21,3061 136,250 2,908,0 29,7539
Total
3,20 , 0 1,20 , 0 217,4023 1,3250 2,850, 0
Capit l 12,0 0 10,7210
-
Total
1934
50,0 0
135,496170 63,90 0306,52317 1,40 0 507,31942
New
O 2.
10 ,0 0
Refundi g 9,327,0 89,46150
Total
1933
4,"lO ,60 "450",0 7,95 , 06 175,60 8.359.4 5 2,091~,250 2,168",750 1,50 , 0 14, 94 5 4 ,1520 439,02^195 0 ,0 0 2,091,250 7,351",0 2,168,750 450, 0 10,65 0 50,97 5
k*3. 1 2.3",250", 0 1",c20",0\ 316,2408 34,82502128,79013
9,327,0 302,46380
New
20,31697860, 0 12,~O" ,6 30,19503 32,456 81
13 ,3 2
$
1932
35,81 4 60, 0 75,~90b",6 36, 275 1,40,0 829,75823
1,60 , 0
138,4950 8,12870 14,7 5 12,74061
Total
$
Capit l 213,0230
250,14820 40, 0 92,50"60 64,18562 46,8042
$
1932
Total
6,0 ,0 2,485,0
60 ,0 0
691,2390 1,3256780 320, 0 23, 0 170,510 264,0 13,2790 15,40"6 2,96387 0 30, 0 1,850, 0 2,0 ,0
"
600",
25,0 0 4,6j3920 51,73 20 43,069250 40,3 254 1",'50 48,25 10 9,23,750 1,368,0 25,0 ,0
:£■:
5,2
5,
8,1250 4,50 0 245,0 0 7, 50, 0 54,70 28,59 763 8, 6,56 7,462,40 4, 85,0 169,32897 30,89 43 50 ,0 0 33,5009",1,9250 76, 7941 342,8 30
60 ,0 0
294,748, 6315 125 38 213,57 2 0,73450 136,2576 240, 1963 9,712,0 31,42057 2,39 06,34Q 15,0 0 2,0 ,0 8,125,0 2,87,50
Refundi g
CHAR TE Capitl 206,41758 70,1396 106, 248 2,49650 34,02574 23,9580373,567,0 666 124,09"430 571,83650 15,0 0 1,250, 0
53,750 75,0 0
8,4 5,0 1,785,2 0 7,549, 20
721,93 0 .,356124 31,086.5 30,68240 4,85,0 347,6937 29,38 43 14,02 0 34,1009",1,9250 239,867941 3,6027,30
28.,281965 219,7 52 0,73450 523,90 214,0 92 58,47321 9,712,0 3",509",30 l"952o,47 o 2,58 4,13
49,876315
7, 50, 0 35,76250 25,87128 4,184,0 ,90 69,7036 16,4379 3,509,3 0 355,3080". 15,046973
"
230,547169
523
18,70 50 2,768,35 4,702,65 7,462,40 3,961,0 9,52 61 4,76094 50 ,0 0 1,925",0 41,57941 187,23 857 21,4758 74,158601 1 ,3049 9,58,950 3,961,0 13,68305 40,916 31 4,312,0 "~6 ob",6 1,9250 165,08 41 7 ,8197
2, 12,50 245,0 0
New
.
3SE0PT. notes. notes. notes. governmt acie_s.&t,Posein fiunocbltadinese 3SE0PT. Notes— &c manufctrig h&ocld—ing,l Notes— &c manufctrig &hocld—ing, &c manufctrig h&oldcing, &c manufctrig — h&ocld_in.g,
bDCTEMONNDHS. orpate— omestic— Loonang-tdersmShort-emPresftorcekdComstocoknCandi— bLoonang-tdersm Short-em PresftocrekdComstocoknforeign— bLoonang-tdersm Short-em PresftorcekdComstocokn corpateCGoavnerndmiantforeignGLooaavntnd, ^Municpal—Stes,Staes toal fdignuorest EMONNDTHS. BLoonagn-Tdersm Railroads utiles cscotopeaerll,,,Eqmuainpufmtent aacensordi inadustrl &buildcngs, ttrraudsintg,,Miscelanous BShooarnt-Tdesm Railroads utiles ccsootpeall,,,Eqmuainpufmcte.renst anodi inadustrl &buildcngs, Shipingttrraudsintg,,Miscelanous Railroads utiles ccsootpeall,,,Equmainpufmcterens_t anodi indaustrl &buicld.n_gs, ttrraudsintg,,Miscelanous Railroads utiles cscotopeall,,,Equmainpumfcterenst anodi indaustrl &buildcngs, ttrraudsintg,,Miscelanous sceocrupritate
Total
Other
NINE
United
Other
Farm
Grand
These
Total
Total
*
NINE
Public Iron, Motors Other Land, Rub er Ship ingInv.
Oil
Public Iron, Motors Other Land, Rub er
Oil
Inv.
Stocks—
Total.
Public Iron, Motors Other Land, Rub er
Oil
Ship ingInv.
Total—
Public Iron, Motors Other Land, Rub er
Oil
Ship ingInv.
Total
Volume
2277
Chronicle
Financial
143
DETAILS OF NEW CAPITAL FLOTATIONS
DURING SEPTEMBER, 1936
(ISSUES MATURING LATER THAN FIVE YEARS)
LONG-TERM BONDS AND NOTES
To Yield
Railroads—
$
101%
400,000 New Equipment.
100
1,000,000 Refunding outstanding equip, ctfs.
3,075,000
New
Additional Underwriters
Company and Issue, and by Whom Offered, Including
About
Price
Purpose of Issue
Amount
%
Offered by Johnson, Lane,
3.75 Central of Georgia Ry. Equip. Trust 4s, S, Oct. 1, 1937-51.
Ino., Savannah.
0.75-3.00 Lehigh & New England RR. %% to 3% Serial Notes, Sept. 1, 1937-43.
Placed with
and Union Trust Co. of Pittsburgh.
0.75-3.25 New York New Haven & Hartford Equip. Trust of 1936 Equip. Trust
equipment
3s, Sept. 1, 1937-51.
99%
by Whiting, Weeks & Knowles, Inc.; Coffin & Burr, Inc.; Estabrook A Co;; Jackson
A Webster and Blodget, Inc. and Stroud & Co., Inc.
3.52 Union Pacific RR. Co. 34-Year Debenture 3%s, Oct. 1, 1970.
Offered by Kuhn, Loeb
98%
20,000,000 Refunding.
Space & Co.,
Drexel A Co.
4.64 Alabama Gas Co. 1st Mtge.
Offered
& Curtis; Stone
A Co.
24,475,000
Public Utilities-
1,500,000 Refunding
Offered by E. H. Rollins & Sons, Inc.; Central Republic
Other underwriters were; Stroud & Co., Inc.
4%s, Aug. 1,1951.
Co.; Chandler & Co., Inc., and Bond & Goodwin, Inc.
and Burr & Co., Inc.
Sept. 1, 1966.
Offered by Bonbrlght A Co., Inc.;
Paine, Webber & Co. and Mitchum, Tully & Co.
3%s, G, Sept. 1, 1966.
Offered by Coffin & Burr, Inc.;
Spencer Trask A Co.; The First Boston Corp.; First of Michigan Corp.; Harris, Hall & Co., Inc.;
Brown Harriman A Co., Inc.; Edward B. Smith A Co.; Blyth & Co., Inc.; Bonbrlght & Co., Inc.;
Kidder, Peabody A Co.; Lazard Freres A Co., Inc.; Lee Higginson Corp.; Stone A Webster and
Blodget, Inc., and White, Weld A Co.
Other underwriter was: Dillon, Read & Co.
3.83 Gulf States Utilities Co. 1st Mtge. & Ref. 4s, C, Oct. 1, 1966.
Offered by Stone & Webster and
Blodget, Inc.; The First Boston Corp.; Brown Harriman & Co., Inc.; Blyth & Co., Inc.; Bonbrlght A
Co., Inc.; Kidder, Peabody & Co.; Schroeder Rockefeller A Co., Inc.; Coffin & Burr, Inc.; Field,
Glore A Co.; Hayden, Stone A Co.; W. C. Langley & Co.; Bosworth, Chanute, Loughbridge A Co.;
H. M. Byllesby & Co., and White, Weld & Co.
Other underwriters were: Mellon Securities Corp.
2,750,000 Refunding.
100
4.00 Commonwealth Telephone Co. 1st Mtge. 4s, A,
20,000,000 Refunding.
105
3.23 The Detroit Edison Co. Gen. and Ref. Mtge.
17,300,000 Refunding.
103
102%
4,000,000 Refunding.
and Lazard Freres & Co., Inc.
10-Year Debenture
4.19 Gulf State Utilities Co.
Offered by Stone A Webster and
4%s, Oct. 1, 1946.
Blodget, Inc.; The First Boston Corp.; Brown Harriman & Co., Inc.; Blyth A Co., Inc.; Bonbrlght
A Co., Inc.; Kidder, Peabody & Co.; Schroeder Rockefeller & Co., Inc.; Coffin & Burr, Inc.; Field,
Glore & Co.; Hayden, Stone A Co.; W. C. Langley & Co.; Bosworth, Chanute, Loughbridge & Co.;
H. M. Byllesby & Co. and White, Weld & Co.
Other underwriters were: Mellon Securities Corp.
and Lazard Freres & Co., Inc.
Kansas City Power & Light Co. 1st Mtge. 3%s, Sept. 1, 1966.
Placed privately
Placed privately.
.
3.35 Louisville Gas & Electric Co. (Ky.) 1st & Ref. Mtge. 3%s, Sept. 1, 1966. ,Offered by Bancamerica102%
Blalr Corp.; H. M. Byllesby & Co., Inc.; Schroeder Rockefeller & Co., Inc.; W.C. Langley & Co.;
A.C. Allyn & Co., Inc.; The First Boston Corp.; Blyth A Co., Inc.; Kidder, Peabody A Co.; Emanuel
A Co.; Granbery, Safford & Co.; Harris, Hall & Co., Inc.; E. H. Rollins A Sons, Inc.; F.S. Moseley
A Co.; Central Republic Co.; J. J. B. Hilliard A Son; Almstedt Brothers; Henning Chambers &
Co., and W. L. Lyons A Co.
100
3.35 Southern Indiana Gas & Electric Co. 1st Mtge. 3.35% Series of 1936, due 1961.
Placed privately
38,000,000 Refunding.
28,000,000 Refunding.
5,500.000 Refunding.
*
with two Institutional investors.
117,050,000
Iron, Steel, Coal, Copper, &c.
55,000,000 Refunding, retire pref. stock of cer¬
98%
tain subsidiaries; capital exp
Steel Corp. Cons. Mtge. 3%s, E, Oct. 1, 1966.
Offered by Kuhn, Loeb & Co.; Edward B.
& Co., Inc.; The First Boston Corp.; J. A
Sellgman & Co., and G. M.-P. Murphy & Co.
Other underwriters were: Bonbrlght & Co.,
Inc.; Goldman, Sachs & Co.; Kidder, Peabody & Co.; Lazard Freres & Co., Inc.; Lee Higginson
Corp.; Dean Witter & Co.; Charles D. Barney A Co.; Clark, Dodge A Co.; Field, Glore & Co.; Hall-
3.83 Bethlehem
Smith A Co.; Mellon Securities Corp.; Brown Harriman
W.
garten A Co.; Hayden, Stone & Co.; Hemphill, Noyes &
Weld & Co.
'
•
Co.; W. E. Hutton & Co., and White,
Other Industrial & Mfg.—
250,000 Discharge bank loans; working cap.
5.00 Binks Manufacturing
100
Co.
1st Mtge. Conv. 5s,
Sept.
1,
(Convertible into Capital stock from
1951.
Sept. 1, 1936 to Sept. 1, 1951 at prices ranging $12% to $20 per
A
600,000 Acquire properties; working capital
Offered by Fusz-Schmelzle
{Each Debenture carries a warrant to purchase
50 shares of Common Stock up to Aug. 1, 1946 at prices ranging from $5% to $12% per share.)
Offered
by Mitchum, Tully A Co. and Pacific Capital Corp.
5.40 Dairyland, Inc. 1st Mtge. 5s, 1946.
Offered by B. E. Buckman A Co., Madison, Wis.
5.00 Creameries of America, Inc., Debenture 5s, Aug. 1, 1946.
100
1,25 ),000 Retire current debt, Ac
share.)
Co., St. Louis, Mo.
97
2,100,000
Land, Buildings, &c.
Placed privately
4,500.000 Refunding
New York University
Placed privately
Corp. 1st Mtge. 4%s, Feb. 1, 1940-Aug. 1, 1956.
with
a group
of insurance companies.
Miscellaneous—
Finance Co.
5.20 The Ohio
98
1,500,000 Retire bank loans...
up to
Aug.
15-Year Conv. Debenture 5s,
Aug. 1,
{Convertible into Common stock
1951.
Offered by Mitchell, Herrick
1, 1951 at prices ranging from $16 2-3 to $25 per share.)
Co.; Riter & Co.; Whitaker A Co., and
Stevenson, Vercoe, Fuller A
& Co.; McDonald-Coolidge &
Lorenz.
Other underwriter was:
First Cleveland Corp.
STOCKS
Par
or
(a)
No.
Amount
Involved
Purpose of Issue
of Shares
Price
per Share
Public Utilities—
To Yield
Company and Issue, and by Whom Offered, Including Additional Underwriters
About
%
40,000 shs Retire 7% pref. stock.
4,000,000
102
4.90 Rochester Gas & Electric Corp. Series E 5%
Boston Corp.;
Cum. Pref. Stock.
Offered by The First
Edward B. Smith & Co.; Goldman, Sachs A Co.; W. C. Langley & Co.,
and Sage, Rutty
& Steele.
Iron, Steel, Coal, Copper, &c.
200,000 shs Capital expenses; working capital
-
750,000
Barium Stainless Steel Corp.
3%
Common Stock. Offered by J. A. Sisto & Co.
Other Industrial & Mfg.—
110,000 shs Replace 7% pref. stk.; add. cap.
6,500 shs Retire pref. stk. of sub.; pay bank
loans; working capital
11,000,000
100 b
Cum. Conv. Pref. Stock
500 American Chain Co., Inc. 5%
{Convertible into Common Stock
on or before Sept. 15, 1946 at prices ranging from $66 2-3 to $80 per share.) Offered by
Hemphill, Noyes & Co.; Goldman, Sachs A Co.; Hayden, Stone A Co.; W. C. Langley
& Co.; Riter A Co.;
Cassatt & Co., Inc.; F. P. Moseley A Co.; Kidder, Peabody & Co.;
Parrish A Co. and Hincks Bros. & Co., Inc.
Other underwriter was: Kuhn, Loeb & Co.
663,000
102
5.39 The Bastian-BIessing Co. $5% Cum. Pref. Stock.
{Each share carries a warrant to purchase
stock up to July 1, 1945 at prices ranging from $17% to $22% per
Offered by Sills, Troxell A Minton, Inc., and Harrison, O'Gara A Co.
Bell Aircraft Corp. Common Stock.
Offered by G. M-P. Murphy A Co.; Hayden, Stone
& Co.; National Aviation Co.;
Schoellkopf, Hutton A Pomeroy, Inc. and Jackson
2 shares of Common
share.)
50,000 shs Working capital.
600,000
12
1,050,000
42
A Curtis.
25,000 shs Acq. int. in sub.; wkg. capital
300,000 shs Pay bk. loans, mtge. debt A accts
payable; gen. corp. purposes
C402.395 Mkt. l%c.
75,484 shs Working capital
301,936
3,224 Shs Working capital
22,568
Compressed Industrial Gases, Inc. Capital Stock.
Offered by A. G. Becker & Co., Inc.
Owlngs Mills Distillery, Inc. Common Stock. Offered by John E. Sloane A Co.
8.00 Roxborough Knitting Mills, Inc. Partic. Pref. Stock. (Convertible into Common stock on a
share basis if exercised prior to June 30, 1941). Offered by Reichart, DeWitt
Co., Inc.
Stock. Offered by Tobey A Co. and Herrick, Heinzel-
share for
&
Soss Manufacturing Co. Common
7
mann
85,000 ShS Retire
curr.
debt; wkg. capital.
& Ripley, Inc.
Stokely Brothers & Co., Inc. Common Stock. Offered by Paine, Webber A Co.; Chas.
D. Barney A Co.; Cranberry A Co.; Reynolds & Co.; Wm. Cavalier & Co. and Mitchum,
1,487,500
17%
225,000
2,808,690
199,516
15
Stokley Brothers & Co., Inc.
10
Universal Corp. Common
832,875
25
Tully & Co.
15,000 shs Retire curr. debt; working capital.
280,869 shs Additional capital.
25,744 shs Plant expansion; wkg. capital.
33,315 shs Retire pref. stock.
Common Stock. Offered to officers and employees of co.
Offered by Hammons A Co., Inc. and Dulin A Co.
Stock.
Upsom-Walton Co. Common Stock.
Offered by The First Cleveland Corp. and
Soucy, Swartswelter & Co.
Van Norman Machine Tool Co. Common Stock. Offered by Jackson A Curtis; Laurence
M. Marks & Co.; The R. E. Griggs Co.
Stein Bros. A Boyce; Drumheller, Ehrlicbman
The
7%
& White;
Coburn & Middlebrook; E. R. Jones & Co.; McDonald-Coolidge & Co.;
Murphey, Favre & Co.; Bell,
and Wadsworth & Co.
50,000 shs Plant expansion; wkg. capital.
600,000
Wolverine Tube Co. Common
12
Coons A Co.; Glenny, Roth A Doollttle; Miller & George
Stock.
Offered by Laurence M. Marks A Co.; Reynolds &
Co.; Parrish & Co.; Baker, Weeks & Harden; Boettcher A Co., Inc., and Crouse &
Other underwriters were: Craigmyle, Marache A Co.; Grubbs, Scott & Co.; Ball,
Co.
20,193,480
Coons &
Co., and Page, Hubbard A Asche.
Oil-
296,631 shs Retire bank loans; cap. exp
1200,000shs Acquire oil A gas lessee, Ac
8,898,930
1,200,000
Phillips Petroleum Co.
30
1
Common Stock. Offered by company to common stockholders.
Capital Stock. Offered by Securities Investment Corp.,
Wolverine Natural Gas Corp.
Grand Rapids,
I
Mich.
10,098,930
Shipping—
63,806 shs Replace $3 % pref. stock.
3,509,330
20,000 shs Wkg. capital; new stores, Ac.
17,072 shs Working capital
60,000 shs General corporate purposes.
570,000
213,400
6,090,000
6,873,400
Eastern Steamship Lines, Inc. $2
55
Miscellaneous—
28%
12%
101%
Conv. Pref. Stock.
(Each share convertible into 3 1-3
shares of Common stock during 1 year from Oct. 1, 1936, 3 shares during the two years
following and 2 % shares thereafter.) Offered by company to holders of its $3 % pfd. stk.
3.48 Darling Stores Corp. $2 Cum. Partic. Pref. Stock. Offered by Leach Bros., Inc.
4~92
Liberty Loan Corp. Class A Common Stock. Offered by Floyd D. Cerf Co., Chicago.
National Bond & Investment Co. 5% Cum. Pref. Stock.
Offered by A. G. Becker A
Co.' Inc.; Hallgarten & Co.; Ladenburg, Thalman & Co.; E. H. Rollins A Sons, Inc.;
Bancamerica-Blair Corp.;
&
Co., Inc. and Otis & Co.
H. M. Byllesby A Co., Inc.;
Central Republic Co.; Burr
Other underwriter was: Blair, Bonner & Co., Inc.
Financial
2278
ISSUES
Par
No.
or
(a)
Involved
$
REPRESENTING NEW
Oct.
10, 1936
FINANCING
To Yield
Amount
of Shares
NOT
Chronicle
Price
$
About
Company and Issue, and by Whom Offered, Including Additional Underwriters
%
60,000 shs
1,200,000
20
El Paso Natural Gas Co. Common Stock.
104,000 shs
1,300,000
6,760,000
12 M
Locke Steel Chain Co. Common Stock.
underwriters were:
200,000 shs
60,000 shs
93,061 shs
39,030 shs
90,000 shs
1,080,000
Other
& Co.; Ladenburg, Thalmann
& Co.; E. H. Rollins <fc Sons, Inc.; Bancamerica-Blair Corp.; H. M. Byllesby & Co., Inc.; Central Republic Co.; Burr &
Co., Inc. and Otis & Co. Other underwriter was: Blair, Bonner & Co.
Petrolite Corp. Common Stock. Offered by G. L. Ohrstrom & Co., Inc. and Dulin & Co.
So8s Manufacturing Co. Common Stock. Offered by Tobey & Co. and Herrick, Heinzelmanh & Ripley, Inc.
22 M
#
Offered by White, Weld & Co., and Stone & Webster and Blodget, Inc.
Kidder, Peabody & Co., and Aldred & Co.
Offered by Hedden & Co., Inc.
\
National Bond & Investment Co. Common Stock. Offered by A. G. Becker & Co.; Hallgarten
28M
1,365,000
651,427
1,116,500
146,165
975,750
1,116,600
18,860 shs
Lehman Brothers;
7
98 Md
Texas Hydro-Electric Corp. 1st Mtge. 6s,
The Upson-Wfelton
7M
Co. Common Stock.
A, April 15, 1956. Offered by Burr & Co., Inc., and Swart, Brent & Co., Inc.
Offered by The First Cleveland Corp. and SotfCy, Swartswelter & Co.
25
Van Norman Machine Tool Co. Common Stock. Offered by Jackson & Curtis; Laurence M.
12
Wolverine Tube Co. Common Stock.
Marks & Co.; The R. F. Griggs
Co.; Stein Bros. & Boyce; Drumheller, Ehrlichman & White; Coburn & Middlebrook; E. R. Jones & Co.; McDonaldCoolidge & Co.; Murphey, Favre & Co.; Ball, Coons & Co.; Glenny, Roth & Doolittle; Miller & George and Wadsworth
& Co.
'V-:
Offered by Laurence M. Marks & Co.; Reynolds & Co.; Parrish & Co.; Baker, Weeks
Other cunderwriters were:
Craigmyle, Marache & Co.; Grubos, Scott &
& Harden; Boettcher & Co. and Crouse & Co.
Co.; Ball, Coons & Co. and Page, Hubbard & Asche.
60,000 shs
12
600,000
Woodall Industries, Inc. Common Stock.
Offered by Paul H. Davis & Co. and Baker, Simonds & Co.
14,184,842
*
a
Shares of
no
:.'.V
value.
par
Preferred stocks of
a
stated par value are taken at par,
while preferred stock
no no par value and all classes of common stock are computed at
their offering prices,
b Offered to holders of 7
% cumulative preferred stock on basis of 1 M shares of this stock for each share of 7 % cumulative preferred stock and to holders
stock at $100 per share; any stock not required for exchange and any not purchased by holders of common stock is
being publicly offered at $100 per share,
c
Stockholders subscribed to 95,210 shares at $1.00 per share;
d Offered in units of $1,000 principal
balance of 204,790 shares priced at market, about $1M
amount of bonds and 3 shares of Preferred stock at price of $985
Bond prices have held
strength.
highs for the
new
Many utility
at recent levels, with
Railroad bonds
Highest-grade issues
tops.
issues likewise
industrial
up
tendency
making
are
went
to
Moody's
115.78.
Aaa
United
averages.
States
"While
fluctuated
bonds
only
fractionally.
High-grade railroad bonds, as a group, have shown little
change.
Atchison gen. 4s, 1995, closed unchanged at 115;
Chesapeake & Ohio 4%s, 1992, advanced % to 125%; Union
Pacific 4s, 1947, at 115% were unchanged.
Lower-grade
bonds
railroad
gains have
90%;
enjoyed
been
greater
recorded.
Baltimore &
demand,
Erie 5s,
and
1967,
price
many
advanced %
to
Ohio 4%s,
Atlantic Coast Line 4s, 1952
Chesapeake & Ohio 4 Ms, 1992
Chicago Union Station 3Ms, 1963
Cincinnati Union Term'l 3 Ms, 1971
Detroit Term'l & Tunnel 4 Ms, 1961
New York Central 3 Ms, 1997
Norfolk & Western 4s, 1996
Pennsylvania RR. 4Ms, 1960
South & North Alabama 5s, 1963
Texas & Pacific 1st 5s, 2000
California Edison 3%s, 1960, at 107 were un¬
In the lower classifications, International HydroElectric 6s, 1944, gained 2% points, closing at 68%; Associ¬
Canadian Pacific, per. 4s
Chicago Burl. & Quincy 4Ms, 1977
Great Northern 4Ms, 1976
Illinois Central 4s, 1955
Kansas City Southern 3s, 1950
Missouri-Kansas-Texas 4s, 1990
New York Central 4s, 1998
Southern Ry. 5s, 1994
Western Maryland 4s, 1952
ated Gas & Electric
4%s 1948, advanced 3 to 54%; Standard
Telephone 5%s, 1943, at 87 were up 4.
An offering of
$14,500,000 mortgage and debenture bonds of Connecticut
jhu
the major financing of the week.
ground, while advances have been general over a broad list
and high grades.
Packing company obligations
of medium
been
(Del.) 4s, 1955, rising % to
Among the non-ferrous metals to move ahead has
Copper & Brass 4%s, 1956, up % at 104%.
and
building supply issues have been steady and
strong, respectively.
Few of the steel
issues
upward trend, Youngstown Sheet & Tube
gaining 8 to close at 138%.
ments
have
been
fairly
resisted
conv.
unusual
strength has characterized
ducers.
on
the
bonds
of
the
while
coal
pro¬
5s, 1962, have been a feature of the
latter group; at 59% they were up 5.
Specialties to share
in the rise include Allis Chalmers conv.
4s,
N. Y. Chic. & St. L.
Consol. Edison N. Y. 3 Ms, 1956
Detroit Edison 3 Ms, 1966
Louisville Gas & El. 3Ms, 1966
Narragansett Electric 3Ms, 1966
Nebraska Power 4Ms, 1981
Pacific Gas & El. 3Ms, 1961
South. Calif. Edison 3Ms, '60 (May)
Virginia El. & Pow. 4s, 1955
vances have been registered in almost
every group.
Out¬
standing have been advances in Brazilian bonds, gains for
Averages
"Moody's Bond Survey," issue of Oct. 5, 1936, gives the
following explanation of the revision of the bond yield
as
far
as^
possible the effect
on
A. si
Brown Shoe Co. 3Ms, 1950
Swift & Co. 3 Ms, 1950
Tenn. Coal, Iron & BR. 5s, 1951
Texas Corp. 3 Ms, 1951
the
bond market of the unusual conditions which have surrounded
it for the past two years, it was found advisable to
revise our
daily bond yield
averages retroactively-back to the end
This was not necessary for railroad
1934.
exception of the Aaa
group.
bonds, with the
case, a minor
with the entire past record back to 1919.
The list
on
which the averages are based is also
bonds
given
herewith.
As stated
some
1
above, the bond market has been subjected for
time past to rather unusual conditions.
Last year, a
Armstrong Cork 4s, 1950
Bethlehem Steel 3 Ms, 1966
Crane Co. 3 Ms, 1951
Cudahy Packing 3 Ms, 1955
Fairbanks Morse 4s, 1956
Inland Steel D 3Ms, 1961
Lehigh Coal & Nav. A 4Ms, 1954
Lorillard Co. (P.) 5s, 1951
National Steel 4s, 1965
Youngstown Sheet & Tube 4s, 1961
Crowp Cork & Seal 4s, 1950
Glen Alden Coal 4s, 1965
Loew's, Inc. 3Ms, 1946
Republic Steel 4Ms, 1961
,
Revere Copper & Brass
4Ms, 1956
Shell Union Oil 3 Ms, 1951
Wheeling Steel 4Ms, 1966
Wilson & Co. 4s, 1955
/
.
as
Peoples Gas Light & Coke 4s, 1981
Wisconsin Power & Light
4s, 1966
Baa
In this latter
The revised averages by months (derived from daily
figures) are shown here back through 1935. They compare
directly with the 1934 averages, which are also shown, as
of
Mississippi Power & Light 5s, 1957
Nevada-Calif. Electric 5s, 1956
Penn Central Lt. & Power
4Ms, 1977
Armour & Co. (Del.) 4s, 1955
Anaconda Copper 4Ms, 1950
of
revision has been effected back to the end of 1935.
well
Arkansas Power & Light 5s, 1956
1
Carolina Power & Light 5s, 1956
Central 111. Pub. Serv. 4M®, 1967
'
Illinois Power & Light 5s, 1956
Minnesota Power & Light 4Ms, 1978
A
Liggett & Myers 5s, 1951
Socony-Vacuum 3 Ms, 1950
Standard Oil, N. J. 3s, 1961
Revision of Moody's Bond Yield
smooth
1977
INDUSTRIALS
Polish issues, and strength in the Italian
group.
to
4Ms, 1978
Pere Marquette 4Ms, 1980
Southern Pacific, Ore. L. 4Ms,
Baa
Columbus Ry. Pow. & Lt. 4s, 1965
Commonwealth Edison 3Ms, 1965
1945, 9% points
higher at 182%, and American Ice 5s, 1953, which advanced
4% to 84%.
Foreign bonds have been fairly strong.
With the excep¬
tion of the French bonds, which declined 15
points, ad¬
averages:
"In order
4Ms, 1977
Illinois Central jt. ref. 4Ms, 1963
N. Y. Central 4Ms, 2013 (pi.)
Jersey Central Pow. & Lt. 4M®, 1961
Louisiana Power & Light 5s, 1957
Dayton Power & Light 3 Ms, 1960
Duquesne Light 3Ms, 1965
Minneapolis Gas Light 4s, 1950
Illinois BeU Telep. 3Ms, 1970
N. Y. State El. & Gas 4Ms, 1980
New Engl. Tel. & Tel. 4Ms, 1961
Ohio Edison 4s, 1965
New York Edison 3Ms, 1965
Potomac Edison 4Ms, 1961
N. Y. & Queens El. L. & P. 3 Ms,' 65 Pub. Service No. 111.
4Ms, 1981
Pacific Tel. & Tel. 3Ms, 1966
Southwestern Gas & El. 4s, 1960
Southwestern Bell Tel. 3Ms, 1964
Texas Power & Light 5s, 1956
West Penn Power 5s, 1963
Wisconsin Public Service 4s, 1961
3%s, 1951,
up-side,
Cleve. Cin. Chic. & St. L.
Erie RR. 5s, 1967
Hudson Coal
the
4MS, 1964
Baltimore & Ohio 5s, 1995
Boston & Maine 5s, 1967
Consumers Power 3Ms, 1965
Price changes among the equip¬
numerous
Atlantic Coast Line
PUBLIC UTILITIES
Revere
Oils
Baa
Baltimore & Ohio 4s, 1948
Chesapeake & Ohio D, 3 Ms, 1996
Chicago Burl. & Quincy 4s, 1958
Chicago & Western Indiana 4s, 1952
Cleve. Cin. Chic. & St. L. 4s, 1993
Erie RR. cons. 4s, 1996
N. Y. Central, L. S. coll. 3M?, 1998
Northern Pacific 4s, 1997
Pennsylvania RR. 4Ms, 1981
Union Pacific 3Ms, 1971
Renewed interest in speculative and convertible industrial
bonds has carried many of these issues into new high
99%.
Moody's Bond Yield Averages
RAILROADS
Southern
firm, Armour & Co.
;.>y
Aaa
changed.
have been
■
.
Atch. Top. & S. Fe gen. 4s, 1995
There has been considerable evidence of strength in the
utility bond market, many high grades reaching new peaks
and lower grades advancing quite substantially.
Consoli¬
dated Edison 3%s, 1956, closed at 106, up % for the week;
was
an
Bonds Used in
1960, gained 2 to close at
83%; Southern Railway 6%s, 1956, advanced 3% to 104;
Wisconsin Central 4s, 1949, rose 3 to 32.
Light & Power
V
effort has
constantly been made to prevent such
changes from distorting the day-to-day movement of bond
values, frequently this was rendered very difficult. Changes
in yields for new bonds were sudden, anticipation of refunding
would often "peg" market quotations to call prices, and quo¬
tations for new bonds were usually lacking for some time
even after the
refunding plans had been consummated.
"With the passing of the most intensive phase of the re¬
funding movement, a clearer picture of what has occurred
can now be obtained in the revised
averages.
It is felt that
the usefulness of these averages to investors will thereby be
distinctly increased."
selling somewhat under the
on Sept. 17, at 116.21,
Aaa's closed on Friday at
Government
refunding operations, which had previously been held
by various uncertainties, was suddenly released and has
averages.
new
year's, record high, which was made
for
per unit and accrued interest.
continued right up to date.
This has necessitated frequent
revisions of the lists of bonds used in our daily bond yield
and closing higher than a week ago.
year
and
a
recorded gains,
of common
share,
flood of
The Course of the Bond Market
toward
per
'
Note—Because of the limited number of suitable
issues, the Industrial
Aaa group now temporarily consists of three issues and the
Industrial Aa
of four issues. The averages, however, remain comparable through¬
group
out.
Moody's computed bond prices and bond yield
given in the following tables:
are
averages
Financial
143
Volume
(Based,
on
All
1936
Govt.
Bonds
120 Domestic Corporate *
120
All
120 Domestic Corporate
120 Domestic
1936
120
by Ratings
Corporate by Groups
Domes-
Averages
ticCorp.
120 Domestic
by Ratings
Corporate* by Groups
Domes¬
Daily
tic
Corp.*
Aaa
9— 110.82
04.67
8- 110.82
Averages
(REVISED)
MOODY'S BOND YIELD AVERAGES
Daily
U. S.
Oct.
2279
Chronicle
(REVISED)
Average Yields)
MOODY'S BOND PRICES
RR.
Baa
Aa
P.
U.
Indus
30
For-
RR.
Baa
A
Aa
Aaa
P.
Indus.
U.
15.78
111.64
101.94
91.51
99.83
103.56
3.74
3.18
3.38
3.89
4.52
4.01
3.80
3.42
04.48
15.57
111.43
101.76
103.38
110.63
8—
3.75
3.19
3.39
3.90
4.52
4.02
3.81
3.43
04.48
15.57
111.23
101.76
±91.51
a91.51
±91.35
99.66
110.80
'7..
199.83
103.20
110.63
7-
3.75
3.19
3.40
3.90
4.52
4.01
3.82
3.43
±99.83
3.43
110.83
Oct.
9-
110.82
04.48
15.57
111.43
101.76
103.20
110.63
6-
3.75
3.90
4.53
4.01
3.82
5.. 110.87
04.30
15.57
111.43
101.58
91.20
99.83
103.20
110.43
5-
3.76
3.19
3.39
3.91
4.54
4.01
3.82
3— 110.86
04.30
15.57
111.23
101.58
±91.20
99.66
103.02
110.43
3.76
3.19
3.40
3.91
4.54
4.02
3.83
3.92
4.55
4.03
3.82
5.65
3.44
3.40
3.44
6
3.19
3.39
3.44
2_
110.83
04.11
15.57
111.23
101.41
91.05
99.48
103.20
110.43
3.77
3.19
1.
i
eigns
110.77
04.11
15.57
111.03
101.41
90.90
99.31
103.02
110.24
3.77
3.19
3.41
3.92
4.56
4.04
3.83
90.75
99.14
103.02
110.04
3.20
3.42
3.92
4.57
4.05
3.83
5.68
3.45
3.46
3.46
ept.30.
110.76
03.93
15.35
110.83
101.41
Sept.30._
3.78
29.
110.70
03.74
15.35
110.83
101.06
90.59
98.97
103.02
110.04
29-
3.79
3.20
3.42
3.94
4.58
4.06
3.83
28.
110.68
03.93
15.57
111.03
101.23
90.75
99.14
103.02
110.24
28„
3.78
3.19
3.41
3.93
4.57
4.05
3.83
26- 110.76
03.93
15.78
1.10.83
101.23
90.75
99.14
103.02
110.43
26-
3.78
3.18
3.42
3.93
4.57
4.05
3.83
3.44
25.. 110.68
03.93
15.78
111.03
101.23
90.59
98.97
103.02
110.24
25-
3.78
3.18
3141
3.93
4.58
4.06
3.83
3.45
3.92
4.56
4.04
3.83
3.44
3.92
4.57
4.05
3.82
3.44
3.43
3.45
110.76
04.11
16.00
111.03
101.41
90.90
99.31
103.02
110.43
24„
3.77
3.17
3.41
23- 110.82
04.11
16.00
111.03
101.41
90.75
99.14
103.20
110.43
23-
3.77
3.17
3.41
22.. 110.90
04.11
16.00
111.03
101.23
90.59
98.97
103.02
110.63
22„
3.77
3.17
3.41
3.93
4.06
3.83
110.91
03.93
16.00
110.83
101.23
90.44
98.62
103.02
110.63
21-
3.78
3.17
3.42
3.93
4.59
4.08
3.83
110.83
101.06
90.29
98.62
103.02
110.43
19„
3.78
3.17
3.42
3.94
4.60
4.08
3.83
5.68
3.44
24.
21.
4.58
3.43
19— 110.87
03.93
16.00
18— 110.86
03.93
16.00
111.03
101.06
90.14
98.45
103.20
110.43
18-
3.78
3.17
3.41
3.94
4.61
4.09
3.82
3.44
17- 110.82
403.93
16.21
111.03
101.23
89.99
98.28
103.02
110.83
17—
3.78
3.16
3.41
3.93
4.62
4.10
3.83
3.42
16- 110.88
03.93
16.00
111.03
101.06
90.14
98.45
103.02
110.63
16-
3.78
3.17
3.41
3.94
4.61
4.09
3.83
3.43
-.15— 110.96
03.74
15.78
111.03
101.06
89.99
98.28
103.02
110.63
15—
3.79
3.18
3.41
3.94
4.62
4.10
3.83
3.43
14- 110.96
12- 111.01
03.74
15.78
111.03
101.06
89.99
98.28
103.20
110.63
14—
3.79
3.18
3.41
3.94
4.62
4.10
3.82
3.43
03.74
16.00
111.03
101.06
89.99
98.28
103.20
110.43
12-
3.79
3.17
3.41
3.94
4.62
4.10
3.82
3.44
110.43
11
—
3.79
3.17
3.41
3.93
4.63
4.10
3.82
3.44
03.74
16.00
111.03
101.23
89.84
98.28
103.20
03.56
15.57
110.83
89.84
98.11
103.02
110.24
10-
3.80
3.19
3.42
3.94
4.63
4.11
3.83
9.. 111.10
8- 111.05
03.56
110.83
89.84
98.11
103.02
110.04
9-
3.80
3.18
3.42
3.95
4.63
4.11
3.83
3.46
03.56
15.78
110.83
100.88
89.69
98.11
103.02
110.24
8—
3.80
3.18
3.42
-3.95
4.64
4.11
3.83
5- 111.10
03.56
15.78
110.83
100.88
89.40
97.95
102.84
110.24
5—
3.80
3.18
3.42
3.95
4.66
4.12
3.84
3.45
3.18
3.42
3.95
4.67
4.13
3.84
5.67
3.45
15.78
101.06
100.88
5.68
3.45
11- 111.04
10- 111.05
3.45
5.70
4.. 111.13
03.38
15.78
110.83
100.88
89.25
97.78
102.84
110.24
4-
3.81
111.08
03.38
15.78
110.83
100.70
89.10
97.61
102.84
110.24
3„
3.81
3.18
3.42
3.96
4.68
4.14
3.84
3.45
2—
3.81
3.19
3.41
3.96
4.68
4.15
3.84
3.45
i__
3.82
3.19
3.42
3.97
4.70
4.16
3.84
3.46
3.84
3.20
3.44
3.98
4.72
4.18
3.85
3.47
5.71
3.
2- 111.06
03.38
15.57
111.03
100.70
89.10
97.45
102.84
110.24
1- 111.00
03.20
15.57
110.83
100.53
88.80
97.28
102.84
110.04
110.43
100.35
88.51
96.94
102.66
109.84
14.93
110.43
100.18
87.93
96.11
102.66
109.64
14.93
110.43
100.00
88.22
96.44
102.84
109.44
14.93
110.43
100.00
88.07
96.28
102.66
109.64
02.84
15.35
21.. 110.71
02.66
14.. 110.59
02.66
7- 110.42
02.66
Aug. 28.. 110.91
110.13
24.
02.48
14.93
110.24
99.83
87.78
95.78
102.48
109.44
109.92
July;31-
11993354——JJaannuurryy
w i
J Weekly—
1
Weekly—
02.12
14.72
109.84
99.48
87.49
95.29
102.48
Aug. 28—
—
3.85
3.22
3.44
3.99
4.76
4.23
3.85
3.48
5.76
14-
3.85
3.22
3.44
4.00
4.74
4.21
3.84
3.49
5.75
7-
3.85
3.22
3.44
4.00
4.75
4.22
3.85
3.48
5.82
July 31-
3.86
3.22
3.45
4.01
4.77
4.25
3.86
3.49
5.75
24-
3.88
3.23
3.47
4.03
4.79
4.28
3.86
3.51
5.75
17.
3.90
3.23
3.48
4.05
4.82
4.30
3.86
3.53
5.77
10-
3.91
3.22
3.48
4.06
4.86
4.33
3.86
3.53
3—
3.93
3.22
3.49
4.08
4.91
4.36
3.88
3.54
5.80
21
109.05
108.66
17.. 109.76
01.76
14.72
109.64
99.14
87.07
94.97
102.48
10„ 110.05
01.58
14.93
109.64
86.50
94.49
102.48
108.66
85.79
94.01
102.12
108.46
5.82
3.. 110.04
01.23
14.93
109.44
98.97
98.62
June 26.. 109.88
01.06
14.30
109.05
98.45
86.07
94.17
101.58
108.27
June 26..
3.94
3.25
3.51
4.09
4.89
4.35
3.91
3.55
3.77
14.30
108.85
98.62
86.07
94.49
101.58
108.08
19-
3.94
3.25
3.52
4.08
4.89
4.33
3.91
3.56
5.85
86.36
85.65
94.33
101.58
108.66
12-
3.93
3.23
3.51
4.09
4.87
4.34
3.91
3.53
5.95
93.69
101.23
108.46
5-
3.95
3.25
3.52
4.10
4.92
4.38
3.93
3.54
101.58
101.23
108.46
May 29—
3.94
3.24
3.51
4.09
4.92
4.37
3.91
3.54
5.91
108.46
22-
3.95
3.26
3.52
4.09
4.94
4.39
3.93
3.54
5.92
101.06
108.46
15-
3.95
3.28
3.52
4.09
4.92
4.38
3.94
3.54
5.89
192073645
.
109.93
01.06
12.. 110.01
01.23
14.72
109.05
98.45
5.. 109.99
00.88
14.30
108.85
98.28
19.
May 29.. 110.01
01.06
14.51
109.05
98.45
85.65
93.85
110.20
00.88
14.09
108.85
98.45
85.38
15— 109.98
00.88
13.68
108.85
98.45
85.65
93.53
93.69
8.. 109.70
00.35
13.48
108.46
98.11
84.96
93.03
100.53
108.27
109.69
99.83
13.07
107.88
97.78
84.28
92.43
00.18
13.27
107.69
97.78
85.10
92.90
100.18
100.35
107.49
Apr. 24.. 109.80
17- 109.96
00.53
13.48
107.88
98.11
86.07
93.85
9- 109.75
00,88
13.68
108.08
98.11
86.50
94.49
100.70
107.88'
3„ 109.64
00.70
13.89
108.08
97.95
86.21
94.33
107.88
98.11
98.28
85.93
94.01
85.79
93.85
100.53
100.35
100.53
100.18
4
108.08
_
22..
1
—
Mar.27.. 109.66
00.53
13.48
107.88
109.51
00.70
13.68
108.27
20
100.53
*
8-
3.98
1
4.01
3.31
3.99
3.54
i
4.97
4.42
3.97
3.55
5.84
4.13
5.02
4.46
3.99
3.59
5.96
3.58
3.29
4.11
3.57
3.30
—
4.13
4.96
4.43
3.98
3.57
5.86
4.89
4.37
3.97
3.56
5.83
4.86
4.33
3.96
-3.57
5.83
4.34
3.97
3.57
4.90
4.36
3.98
3.57
5.85
4.91
4.37
3.97
3.55
5.80
4.91
4.36
3.99
3.56
5.94
Apr. 24..
17-
3.97
3.29
3.57
4.11
19—
3.95
3.28
3.56
4.11
3-
3.96
3.27
3.56
4.12
4.88
107.88
Mar.27—
3.97
3.29
3.57
4.11
108.27
20-
3.96
3.28
3.55
4.10
13..
3.97
3.31
3.55
4111
107.88
108.08
1.
6.06
-
5.83
13- 109.11
00.53
13.07
108.27
98.11
85.79
94.01
6- 109.46
01.41
13.48
108.66
98.80
87.64
96.11
100 53
108.27
6..
3.92
3.29
3.53
4.07
4.23
3.97
3.55
5.87
Feb. 28.. 109.03
01.23
13.07
108.46
98.45
87.64
95.46
100.53
107.69
Feb. 28..
3.93
3.31
3.54
4.09
4.78
4.27
3.97
3.58
6.03
100.35
108.08
21..
3.92
3.31
3.55
4.09
4.74
4.24
3.98
3.56
5.92
100.53
108.08
14..
3.94
3.31
3.56
4.12
4.77
4.29
3.97
3.56
6.07
94.17
100 35
107.88
7..
3.97
3.32
3.56
4.15
4.84
4.35
3.98
3.57
6.10
93.06
100.18
107.49
31..
4.00
3.35
3.57
4.18
4.90
4.42
3.99
3.59
6.13
107.88
24..
4.00
3.35
3.57
4.16
4.90
4.42
4.00
3.57
6.11
17-
4.02
3.37
3.55
4.19
4.96
4.46
4.01
3.57
6.17
10-
4.06
3.38
3.59
4.23
5.05
4.54
4.05
3.61
6.26
3.
4.12
3.41
3.62
4.29
5.16
4.63
4.07
3.67
6.23
3.74
3.16
3.38
3.89
4.52
4.01
3.80
3.42
5.65
4.14
3.42
3.63
4.30
5.20
4.65
4.08
3.68
6.31
4.15
3.42
3.63
4.31
5.22
4.67
4.08
3.69
5.78
3.80
4.25
4.83
6.40
5.37
5.13
4.35
6.97
3.54
3.83
4.51
5.59
4.99
4.27
3.86
4.37
3.93
4.41
5.04
6.46
5.05
5.34
4.49
6.91
I
Jan.
108.95
01.41
13.07
108.27
98.45
88.22
95.95
14- 108.48
7- 108.21
01.06
13.07
108.08
97.95
87.78
95.13
00.53
12.86
108.08
97.45
86.78
31.. 108.03
00.00
12.25
107.88
96.94
85.93
21
—
24„ 107.89
00.00
12.25
107.88
97.28
85.93
93.06
100.00
17.. 108.34
99.66
11.84
108.27
96.78
85.10
92.43
99.83
107.88
83.87
91.20
99.14
Jan.
107.11
10— 108.02
98.97
11.64
107.49
96.11
3.. 107.94
97.95
11.03
106.92
95.13
82.40
89.84
98.80
105.98
111.64
101.94
91.51
99.83T 103.56
110.83
104.67
16.21
1936 107.77
97.61
10.83
106.73
94.97
81.87
89.55
98.62
105.79
High 1935 109.20
97.45
10.83
106.73
94.81
81.61
89.25
98.62
105.6
Low
88.07
03.56
95.78
86.92
68.17
79.70
82.79
High 1936 111.13
Low
1
1935 105.66
93.85
08.46
01.23
93.21
77.00
84.69
95.46
83.87
80.08
Oct. 9 '34 103.95
91.97
ft
4.96
They m
of the bond market.
of actual price quotations.
the average movement
yield averages, the latter being the truer picture
•
4.37
102.48
67.58
i
2 Yrs.Ago
or
91.66
84.01
103.02
85.10
Oct. 9 '35 106.80
level
4.75
94.17
m
i
Yr. Ago
■iininrc
GEOGRAPHICAL
New
The
-
Capital Issues
in
Great Britain
following statistics have been compiled by the
Mid¬
These compilations of issues of new
land Bank Limited.
capital, which are subject to revision, exclude all
by the British Government
borrowings
for purely financial purposes;
vendors; allotments arising from the capitali¬
shares issued to
,
undivided profits; sales of already
In
QA
noor a\
conversion
or
redemption of securities previously held in the
United Kingdom;
short-dated bills sold in anticipation of
long-term borrowings; and loans
authorities which are not
based
the figures are
upon
SUMMARY TABLE OF NEW
of municipal and county
specifically limited.
In all
cases
CAPITAL ISSUES IN THE UNITED KINGDOM
Year to
Sept. 30
Sept. 30
£
£
—
£
£
£
8,682,000
5,309,000
6,011,000
8,665,000
11,397,000
3,165,000
5,631,000
£9,294,000
20,064,000
9,951,000
-
-
-
—
5,188,000
4,329,000
7,902,000
2,534,000
15,926,000
5,040,000
1928.
-
18,306,000
£132,678,000
314,574,000
144,583,000
193,059,000
150,021,000
139,119,000
192,858,000
229,416,000
250,678,000
144,989,000
175,770,000
201,858,000
269.254,000
2,665,000
5,039,000
-
224,011,000
1,315,000
17,000
-
79,082,000
78,174,000
103,702,000
7,164,000
6,748,000
7,719,000
9,546,000
169,891,000
100,646,000
154,355,000
149,127,000
214,220,000
264,271,000
192,630,000
279,354,000
382,111,000
IN
THE
Brit.
49,000
1,763,000
221,000 1,433,000
7,000
873,000
12,000
850,000
62,000 10,945,000
32,000 4,609,000
1,000 5.014,000
5,485,000
137",666
566,000
522,000 31,539,000
20,764,000
11,016,000
9,122,000
550:566
Foreign
359,000
45,000
190,000
63,000
37,000
386,000
25,000
1,228,000
413,000
Total
£
10,853,000
7,008,000
7,082,000
9,590,000
22,441,000
12,048,000
14,998,000
9,878,000
6.748,000
2,746,000 100,646,000
J"ssS'
October
November
December
April
61,000
2,465,000
1,899,000
3,355,000
106741000
Year
....
1,133,000 39,258,000
14,433,000
9,688,000
11,076,000
3,443,000
18,788,000
19,571,000
49,999,000
957,000
2,346,000
1,135,000
156,000
141,000
23,446,000
14,000
13,042,000
3,058,000 150,190,000
1,202,000
586,000
176,000
13,000
660,000
568,000
872,000
254,000
3,622,000
118:666
13,056,000
287,000
5,000
154,000
16,592,000
12,620,000
12,386,000
4,108,000
19,728,000
20,610,000
53,909,000
August
4,761,000
1,921,000
September
7,344,000
375,000
7,719,000
139104000
130,000 12,457,000
2,664,000 154,355,000
months
October
November
December
Year
1936—January
February
March
317,276,000
199,629,000
April
May
145,351,000
June
87,758,000
138,567,000
July
August
129,812,000
203,900,000
September
177,595,000
Other
65,839,000
months
9
£169,414,000
419,438,000
ISSUES
MONTHS
Countries
7,021,000
July
9 Months to
CAPITAL
nlf
Countries
9,958,000
May
Month of
BY
cV»niir
Ceylon
August
June.
September
NEW
mnrt
India and
June
March
[Compiled by Midland Bank Limited]
OF
nil
United
March
February
the prices of issue.
nnt
Kingdom
April.
9
r\
KINGDOM
UNITED
September
whose securities have been offered; issues for
of the company
H
iCompiled by the Midland Bank Limited]
July
issued securities which add nothing to the capital resources
onH
DISTRIBUTION
February
May
zation of reserve funds and
4.78
9
months
3,940,000
9,204,000
9,686,000
545,000
15,000
137,000
222,000
3,136,000
1,395,000
161934000
828,000 17,210,000
33,019,000
18,502,000
194,000
6,877,000
8,795,000
17,196,000
15,344,000
20,712,000
4,346,000
751,000
964,000
232",666
{,356:666
27,000
2,014,000
2,939,000
3,537,000
8,018,000
1,770.000
1,528,000
132810000
453,000 14,860.000
6,682,000
188:666
4,707,000
12,544,000
11,218,000
2,852,000 182,824,000
33,963,000
221,000
19,687,000
84,000
6,961,000
73,000
10,456,000
268,000 _19,505,000
128,000
18,411,000
153,000 24,403,000
78.000
6.194,000
9,546,000
1.004,000 149,127,000
Financial
2280
ISSUES IN THE UNITED KINGDOM BY MONTHS
NEW CAPITAL
.
1934
1935
1936
£8,310,263
7,167,385
13,447,603
8,247,859
14,614,014
17,541,251
6,001,777
21,208,047
7,164,097
£10,853,233
7,007,995
7,081,462
9,590,367
22,440,935
12,048,454
14,997,397
9,878,332
6,747,571
£16,592,347
12,620,080
12,386,235
4,108,238
19,727,811
20,610,166
53,909,166
6,682,428
7,719,440
£103,702,296
£100,645,746
£154,355,911
£149,127,065
—
February
..
March_
April
May
June...
—
July
August
September
9
months
£23,446,272
13,056,095
13,041,644
£132,868,896
£150,189,757
19,687,120
6,961,500
10,456,037
19,505,122
18,410,698
24,402.925
6,194,413
9,546,101
tariff
invite com¬
peting imports are likely to be resisted as an
impairment of national economic independence. An
changes which restrict export markets or
£182,824,210
has been constructed
dealing with tariffs and quotas until they can see
tripartite agreement is to result in prac¬
tical stabilization for the
time-being,
whether the
or
three countries have other financial cards that
that has taken place in Europe has
there will be
States is
There
the
influential factor in
most
whatever
important differences, too, in national
are
No
for example, cares to predict
one,
Government may remain in
the Blum
long
what effect the Russian threat of inter¬
power, or
vening in Spain may have upon the whole political
Devaluation
in Europe.
problem
in France ob¬
viously forced devaluation
in Italy, but Premier
for
controlling prices which
Mussolini has
are
resources
played by the armament and
nomic
policy.
Neither the French
superior to those of Premier Blum, and price
ment of
STATE
TRADE—COMMERCIAL
OF
EPITOME
Friday Fight, Oct. 9, 1936.
Business
forward.
to move
almost all lines continues
activity in
the "Journal of
According to
Commerce" index
figure of 99.3, business for the current week passed the 1930
The current figures compare with 98.3 for the pre¬
peak.
the corresponding week of 1935.
ceding week and 81.5 for
Merchandise
loadings
advance, showing
bituminous
also
coal
showed
and
production again
steel
petroleum
and
production
substantial
to
runs
According
gains.
led the
Electric output,
highs for the year.
new
to
the
stills
"Iron
Age," heavy bookings of steel in the last week have forced
trade
situation, and to that extent they are to be
Tliey will be still more encouraging if
they lead to similar ameliorations in other countries.
There
can
be
ternational
and
from 20
to
last year's figures.
Cram's Reports,
automobile production in the United
States and Canada this week will reach 39,945 units against
corresponding period of last
to
date has
Iron and
been
of
an
1935.
The gain over last year
year.
nearly
40%, according to the American
Steel Institute.
Production of electric power for
the week ended
hours,
tons for the
Saturday, Oct. 3,
increase of
is
It
16.4%
stated that
was
over
the
2,169,442,000 kilowatt
the
corresponding week
power
output upturn last
week reflected increased
takings by the automotive industry
as production on new 1937 model cars
got under way fol¬
lowing change-over from 1936 model production.
This was
reflected in
electric power output in the central industrial
region, where the gain
over a year ago was
18.1%.
Specu¬
Street, the
volume of business on Wednesday reaching its first threemillion share day since Feb. 21, indicating large-scale
pub¬
lic participation.
Another new high for the year was estab¬
lished by the market.
And all this in the face of unsettled
lative
money
ditions
enthusiasm continues to mount
markets
and
abroad, together with
election
uncertainties
at
818,126
than
1.5% increase.
record.
week ago, or
The
increase
over
Wall
grave
home.
political
Oar
con¬
loadings
cars, which is
the
12,056
This is
same
period
a
showing 12 to 18%.
for
1935
was
The wholesale trade also
continues to expand, with the increase in
According to the
though
in more western
tensive
as
sections freezing was not so ex¬
during the preceding week.
Substantial precipi¬
tation during theweek
erally
in
While
the
to
rain
in
crops
markedly-improved conditions gen¬
States from Georgia northward.
too heavy locally, with some damage
Atlantic
the
was
the southern
moisture
soil,
part of the area, the generally
highly beneficial in conditioning
winter wheat seeding.
Also con¬
was
especially
for
ditions continue decidedly favorable in the
and
in
upper
the
Mississippi,
southern
Great
and
lower
Plains
and
Ohio, the central
Missouri
Texas.
Valleys;
On
the
also
other
hand, droughty conditions continue largely unabated over a
considerable northwestern area, with rain
badly needed in
Minnesota, the Plains States southwestward to central and
western
Nebraska.
sections
of
crops
in
the
was
States.
cloudy
was
with
Northeast,
Central Northern
weather
Frost
the country,
and
the
In
rather
more
upper
or
Lake
the New
unsettled,
general in
northern
less damage to late
region
York City
with
and
the
area
the
generally
warm
temperatures.
Today it was fair and warm here, with
temperatures ranging from .61 to 73 degrees.
The forecast
was for mostly cloudy, with moderate
temperatures
tonight
Saturday; probably showers Saturday.
Overnight at
was 52 to 76
degrees; Baltimore, 68 to 80; Pitts¬
burgh, 58 to 70; Portland, Me., 46 to 74; Chicago, 60 to 64Cincinnati, 64 to 78; Cleveland, 58 to 68; Detroit, 50 to 72;
Charleston, 74 to 84; Milwaukee, 52 to 70; Dallas, 52 to 64 *
Kansas City, 60 to 60; Springfield,
Mo., 56 to 72; Oklahoma
City, 56 to 64; Salt Lake City, 38 to 72; Seattle, 56 to 72Montreal, 48 to 62, and Winnipeg, 48 to 78.
and
Boston it
six-year
cars, or
of last year
ago.
more cars
new
16% gain. According to Dun & Bradstreet,
the buying public is in the most
responsive mood since 1929,
with the increase in retail business over the same
week
113,152
year
a
fair weather prevailed in most of the
Sub-freez¬
country, with cool temperatures rather general.
ing temperatures were again reported from the interior of
the Northwestern States, the extreme northern portions of
the country, and over a considerable area of the Northwest,
.
for the week totaled
a
in
over
that
22,800 last week and 31,643
the
24,051,412
40%
government report,
at the rate of 75%% of capacity.
with
Activity
estimates
Inc.,
now
compared
other basis will be at best only tem¬
on any
expedients.
porary
abundant
33,605,304 tons
gold standard, the
attempts at stabilization, whether formal or in¬
formal,
with
as
Ultimately, the
"managed."
only standard which has ever inspired confidence,
high for the year and since 1930,
ingot production for nine months was reported
healthy conditions in in¬
trade, however, as long as national cur¬
world will have to return to the
new
ingot production
return to
no
rencies continue to be
operations to another
Total steel
As far as they go they
protective policy.
a
likely to improve somewhat the international
seem
Indications of Business
THE
the Italian tariff adjust¬
nor
ments, accordingly, necessarily imply an abandon¬
welcomed.
general currency stabilization.
situations.
how
uncertainty until after the American
since the financial policy of the United
relates to
munitions in¬
which the
nations must prepare is not a favorable atmosphere
in which to carry through radical changes in eco¬
they
Even for France and Great Britain
play.
accomplished in a few days
dustry, and fear of impending war for
(Concluded from page 2272)
whether the
agree¬
in Europe, and its re¬
important part in the industrial and
An
weeks.
or
been
Attacking the Trade Barriers
treaties and
elaborate network of commercial
construction cannot be
—■
in
European countries, and currency or
most
business recovery
election,
could per¬
The trend to
changes which might greatly vex France
haps be avoided altogether in Italy.
ments
£4,706,804
12,543,554
11,217,941
December
intend to
1936
economic nationalism of self-sufficiency is strong
£10,026,260
12,786,859
6,353,481
October
Year
10,
£33,963,149
1933
January
Oct.
Chronicle
this field
ranging
Moody's Commodity Index Advances Slightly
Moody's Daily Index of Staple Commodity Prices ad¬
vanced slightly this week, closing at 184.0 this
Friday, as
compared with 183.7 a week ago.
There were gains for cocoa, hides,
rubber, wheat, corn,
hogs and wool, and declines for silk, cotton and sugar.
Financial
143
Volume
The price of silver, steel, copper, lead and coffee remained
unchanged.
The movement of the Index during the week, with com¬
parisons, is as follows:
Fri.
Oct.
Oct.
Oct.
Oct.
183.7 2 Weeks Ago,
184.0 Month Ago,
183.4 Year Ago.
182.9 1935 High—
Low—
183.0
183.6 1936 High—
Low—
184.0
Oct. 2
Sat.
Mon.
Tues.
Wed.
3
5
6_
7
Thurf?. Oct. 8
Fri.
Oct. 9
-
184.5
185.4
175.3
175.3
Sept. 25
Oct.
9_
Oct.
9
Oct.
7 & 9
Mar. 18
Aug. 18May 12
2281
Chronicle
compared with 1935 and a rise of 22.5% when com¬
parison is made with the same week of 1934.
The first 18 major railroads to report for the week ended
Oct. 3, 1936 loaded a total of 372,578 cars of revenue freight
on their own lines, compared with 371,710 cars in the pre¬
ceding week and 320,900 cars in the seven days ended Oct. 5,
1935.
A comparative table follows:
when
148.4
188.9
162-7
LOADED AND RECEIVED FROM
FREIGHT
REVENUE
(Number of Cars)
Loaded
The "Annalist"
Weekly Index of Wholesale Commodity
0.3 Points During Week Ended
Sept. 26
1936
Little change marked commodity prices as a whole during
the week.
The "Annalist" Weekly Index of Wholesale Com¬
modity Prices declined 0.3 points to 127.5 on Oct. 6 from
127.8 on Sept. 29.
The "Annalist" further reported:
Lower prices for corn, livestock,
lard, butter, cotton and rubber more
than offset increases for beef, pork and veal, oats and rye, potatoes, cocoa,
wool.
and
COMMODITY
1936
Chesapeake & Ohio Ry
27,008
Chicago Burl. & Qulncy RR
18,249
22,742
18,128
2,130
2,754
"5,291
19,110
45,083
5,488
24,344
73,880
6,261
7,571
26,451
18,457
22,602
18,195
2,214
2,704
Chicago & North Western Ry
Gulf Coast Lines
Internat'l Great Northern RR
RR
New York Chicago & St. Louis Ry
Farm
Sept. 29,
Oct. 8, 1935
1936
124.5
al25.6
126.7
137.4
*112.1
alll.8
167.6
al67.6
114.1
114.1
111.2
111.8
111.8
111.5
97.3
97.3
Wabash
167.5
Metals
Marquette Ry
Pittsburgh & Lake Erie RR
17,970
11,513
9,568
4,729
19,714
24,982
72,773 ■60,876
6,484
5,723
5,019
7,829
34,219
5,939
1,554
1,964
43,126
10,356
4,814
44,438
4,971
47,798
5,496
6,813
x9,008
8,327
27,917
5,594
9,741
1,216
1,658
2,742
8,277
34,301
7,261
3,965
32,129
4,217
4,494
3,352
9,745
3,064
9,930
45,020
10,747
5,000
5,411
16,000
39,722
7,686
8,869
7,051
11,894
1,556
1,889
2,555
5,520
5,521
13,124
8,691
9,044
12,197
18,929
42,574
5,518
32,889
5,710
Ry
114.3
Fuels
Pere
Southern Pacific Lines
125.5
127.2
products
Food products
1935
6,304
17,893
11,543
9,074
6,941
15,590
2,033
Chicago Milw. St. Paul & Pac.Ry.
Norfolk & Western Ry
1936
Oct. 5
1936
22,900
17,492
21,136
Ry.
Pennsylvania RR
Oct. 6,
Sept. 26
1936
1935
19,986
27,742
New York Central Lines
(1913—100)
Oct. 3
5
21,821
35,260
Missouri Pacific RR
PRICES
Weeks Ended—
Oct.
21,509
34,431
Atchison Topeka & Santa Fe
Baltimore & Ohio RR
Missouri-Kansas-Texas
I
•ANNALIST" WEEKLY INDEX OF WHOLESALE
THE
Received from Connections
Own Lines
Oct. 3
Oct. 6
coffee
on
Weeks Ended—
Decreased
Prices
CONNECTIONS
V
6,586
X8.648
X6.506
7,458
8,133
98.0
Textile products.
Building materials
Chemicals—
—
88.4
*
Preliminary,
Orleans
S. P. Co.-Pacific Lines and Texas & New
Co.
RR.
TOTAL LOADINGS AND RECEIPTS FROM
77.3
—
(Number of Cars)
Revised.
a
Weeks Ended—
Oct. 3,
Wholesale Commodity Prices Advanced Slightly During
Week
Oct.
Ended
3,
According to National
Fer¬
tilizer Association
increase
was
usually been
Fluctuations in the all-commodity index in the past have
due to price movement
of farm products and foods.
The rise last week,
however, was caused by rising prices for industrial commodities,
The index for all commodities
product and food indexes declining.
farm
with the
advanced last week to a new high point
period, reflecting increases in seven group indexes.
The
except farm products and foods
for the recovery
trend
foodstuff prices
of
included in this group
small
than
and
hogs,
Declining prices for all grains, which
of higher
quotations for cotton, eggs, cattle
in anthracite
seasonal advance
of farm product
in the index
responsible for the drop
were
11 items
declining and eight advancing; the net result was a
the effect
offset
A
prices.
downward during the week with
the group index.
decline in
more
was
coal prices
combined with a
slight rise ini fuel oil was responsible for the upturn in the fuel price index.
The metal, and chemical and drug, indexes
for
advanced to
the recovery period and the building material index
mately
the
highest
combined with
erate
advance
dollar
a
in
A
point.
decline
in
the
discount
new
was
on
high points
at approxi¬
potash
ton advance on nitrate of soda resulted in a
a
the index
of fertilizer
material
salts
mod¬
taking it to the
prices,
were
registered last week by 39 price series included in the
ndex and declines by 26;
and 29 declines; in the
in the preceding week there were 23 advances
second preceding week there
40 advances and
were
This
Latest
Per Cent
Preced'ff
Month
Group
Total Index
Loading of
Week
Ago
Ago
Oct. 3,
Sept. 26,
Sept. 5,
Oct. 5,
1936
1936
1935
Fats and oils
Cottonseed oil
23.0
Farm products
as
follows:
-
....
increase of 177,135 cars or 28.1%
compared with the
revenue
1934.
freight for the week of Sept. 26 was an increase of
loading totaled 333,561 cars, an increase of 7,813
Miscellaneous freight
above the preceding week,
in 1935 and
89,051
cars
63,440 cars above the corresponding week
above the corresponding week in 1934.
Loading of merchandise less
cars, an
than
carload lot freight totaled
172,051
increase of 1,628 cars above the preceding week, 6,379 cars above
corresponding week in 1935 and 7,441 cars above the same week in 1934.
the
142,808 cars, an increase of 5,822 cars above
Coal loading amounted to
the preceding week,
79,955 cars above the corresponding week in 1935 and
19,054 cars above the same week in 1934.
Grain
599
cars
and
grain products loading
totaled 33,674
cars,
an increase
of
above the preceding week, but a decrease of 5,524 cars below the
corresponding week in
above the
week in
same
It was, however, an increase of 1,060 cars
1935.
In the Western districts alone, grain and
1934.
grain products loading for the week ended Sept. 26 totaled 21,862 cars, an
increase of 764 cars above
the preceding week this year but a decrease of
5,624 cars below the same week in 1935.
Live stock loading amounted to 19,321 cars, an increase of
the preceding
below the same week in 1934.
tricts alone, loading of live
cars, an
oars
583
cars
above
week and 1,018 cars above the same week in 1935, but a
In the Western dis¬
stock for the week ended Sept. 26 totaled 15,776
increase of 373 cars above the preceding week this year and 1,120
above the same week in 1935.
products loading totaled 37,131
the
cars,
an
increase of 1,679 cars
preceding week, 4,670 cars above the same week in 1935 and
58,604 cars, a decrease of 628 cars below the
preceding week, but an increasepf 23,722 cars above the corresponding week
in 1935,
and 36,736 cars above the corresponding week in 1934.
Coke loading amounted to 9,920 cars,
an increase of 64 cars
preceding week, 3,475 cars above the same week in
same
above the
1935 and 4,711 cars
week in 1934.
82.4
82.3
81.6
79.3
80.2
79.9
74.7
94.6
98.0
97.1
100.0
79.5
79.7
78.9
78.2
82.0
Foods
an
17,560 Cars or 2.2% above the preceding week.
cars
above the
25.3
was
Ore loading amounted to
Year
1936
Bears to the
13,425
14,157 cars above the same week in 1934.
Week
Each Group
26 reported
the corresponding week in
INDEX
(1926-1928=100)
Compiled by the National Fertilizer Association.
70,120
corresponding week in 1935 and an increase of 160,986 cars or 24.9% above
above
WEEKLY WHOLESALE COMMODITY PRICE
80,658
22,402
Loading of revenue freight for the week ended Sept. 26 totaled 807,070
cars.
Forest
18 declines.
34,293
1936
of American railroads in reviewing the
Association
The
week ended Sept.
decrease of 11,224 cars
highest point reached since 1932.
Advances
Total
Oct. 5, 1935
25,694
38,214
16,750
81,554
Illinois Central System
Sept. 26, 1936
25,421
39,449
16,684
Chicago Rock Island & Pacific Ry.
St. Louis-San Francisco Ry
recorded by the weekly commodity
price index compiled by the National Fertilizer Association
during the week ended Oct. 3, the index moving up to 80.1%
of the 1926-1928 average from 80.0% in the preceding week.
A month ago it stood at 79.7% and a year ago at 78.4%.
The highest point reached by the index this year and also
in the price recovery, which beg&n in the spring of 1933
was 80.5%, in the week ended Sept. 19.
The Association's
announcement, under date of Oct. 5, continued:
A slight
CONNECTIONS
136.2
75.5
Excludes cars interchanged between
x
83.5
127.8
75.3
..
All commodities on old dollar basis
88.4
127.5
Miscellaneous.
All commodities
372,578 371,710 320,900 221,881 213,086 166,216
Total
Cotton
68.9
66.9
65.3
61.8
Grains
99.5
104.0
98.0
87.3
Livestock
All districts reported increases in the number of cars loaded with revenue
freight compared with the corresponding week in 1935 and 1934.
Loading of revenue freight in 1936 compared with the two previous years
follows:
75.3
75.0
75.7
80.0
17.3
Fuels
79.7
79.6
79.7
75.1
10.8
Miscellaneous commodities..
77.8
77.7
77.3
70.5
Textiles
69.7
69.1
68.5
67.9
Four weeks in January
8.2
,
1936
2,353,111
3,135,118
2,418,985
2,544,843
Metals
85.9
85.0
84.7
83.3
Five weeks in February
Building materials
82.7
82.2
81.9
77.4
Four weeks in March
1.3
96.2
95.1
95.1
95.4
Four weeks in April
.3
Chemicals and drugs
Fertilizer materials
68.1
67.4
67.3
65.6
Five
.3
Mixed fertilizers.
74.0
74.0
73.7
72.7
Four weeks in June
.3
Farm machinery
92.6
92.6
92.6
92.0
Four weeks in July
80.1
80.0
79.7
78.4
Week of Sept.
weeks in May
Week of Sept.
5
12.
Week of Sept. 19
Week of Sept.
Revenue
26
807,070
3,026,021
2,504,974
2,351,015
3,072,864
563,883
647,485
644,498
646,084
23,112,084
23,362,452
3,351,801
J.
Five weeks in August
All groups combined
1934
2,183,081
2,920,192
2,461,895
2,340,460
26,178,592
7.1
6.1
100.0
1935
2,169,146
2,927,453
2,408,319
2,302,101
2,887,975
2,465,735
2,224,872
3,098,001
591,941
699,786
706,820
629,935
nt---
-\...
2,787,012
2,825,547
3,701,056
764,680
699,859
789,510
Freight Car Loadings Increase 12,056 Cars in
Week Ended Oct. 3
Loadings of revenue freight for the week ended Oct. 3,
1936, totaled 819,126 cars.
This is a gain of. 12,056 cars,
or
1.5%, over the preceding week, a gain of 113,152 cars, or
16%, over the total for the like week of 1935, and an increase
of 186,720 cars, or 29.5%, over the total loadings for the
corresponding week of 1934.
For the week ended Sept. 26
loadings were 28.1% above those for the like week of 1935,
and 24.9% over those fo the corresponding week of 1934.
Loading for the week ended Sept. 19 showed a gain of 11.7%
Total
In
the
following table we undertake to show also the
loadings for separate roads and systems for the week ended
Sept. 26, 1936.
During this period a total of 110 roads
showed increases when compared with the same week last
year.
The most important of these roads which showed
increases were the Pennsylvania System, the New York
Central Lines, the Baltimore & Ohio RR., the Atchison,
Topeka & Santa Fe System, Southern Pacific RR. (Pacific
Lines) and the Illinois Central System.
Financial
2282
REVENUE FREIGHT LOADED AND RECEIVED FROM CONNECTIONS
Total Revenue
1934
1935
1936
540
671
546
1,239
1,073
1,494
257
8,600
1,330
7,397
261
Boston A Maine
1,515
8,095
1,356
10,677
10,288
....
1,859
Chicago Indianapolis A Loulsv.
1,402
2,416
2,055
from Connection*
Group B 0Concluded)—
Georgia
Georgia A Florida
1934
1935
1936
1935
Eastern District—
Total Load* Received
Freight Loaded
Railroad*
Bangor A Aroostook
ENDED SEPT. 26
OF CARS)—WEEK
Total Revenue
from Connection*
1936
Ann Arbor
(NUMBER
Total Load* Received
Freight Loaded
Railroad
Oct. 10, 1936
Chronicle
913
1,159
1,030
543
Illinois Central System
Louisville A Nashville
468
2,234
22,143
16,323
1,318
1,735
366
2,370
26,854
23,252
Gull Mobile A Northern
1935
1936
1,491
21,135
18,098
,
432
410
'1,171
938
12,280
10,580
4,422
5,148
39
21
40
76
62
1,007
6,218
9,773
1,152
1,010
5,406
8,665
1,998
7,592
6,440
2,043
Macon Dublin A Savannah
216
236
139
6,236
12,152
6,960
Mississippi Central
257
166
154
199
210
6,270
Mobile A Ohio
523
390
344
154
117
2,144
3,098
1,944
2,857
1,953
2,939
2,172
2,513
1,693
1,954
1,624
2,121
1,683
318
710
534
214
1,114
2,573
13,745
6,700
409
277
1,135
2,535
16,015
7,054
1,957
1,298
7,351
479
294
67,713
55,902
53,659
33,333
28,029
112,412
96,968
91,830
66,215
56,358
2,508
2:131
227
180
2,071
11,894
3,314
8,691
1,921
10,249
3,006
7,772
3,392
Central Indiana
Central Vermont........
Delaware A Hudson
...
Delaware Lackawanna A West.
Detroit A Mackinac
Detroit Toledo A Ironton
Detroit A Toledo Shore Line—
13,564
13,713
3,380
4,038
12,157
2,787
183
184
150
2,052
Maine Central
1,884
9,654
3,207
2,967
1,547
7,382
3,009
Monongahela
4*427
261
2,468
42,574
11,275
1,851
5,518
7,822
5,723
37,278
10,490
2,229
4,520
4,249
5,936
290
29
489
249
Erie
Grand Trunk Western
...
Lehigh A Hudson River.......
Lehigh A New England
Lehigh Valley
Montour
b New York Central Lines..
N. Y. N. H. A Hartford
New York Ontario A Western..
N. Y. Chicago A St. Louis
Pittsburgh A Lake Erie
...
Pere Marquette
Pittsburgh A Shawmut
....
Pittsburgh Shawmut A North..
Pittsburgh A West Virginia
9,753
2,952
2,087
36,727
9,974
2,386
41
79
43,123
11,722
1,741
10,356
32,789
12,248
6,593
4,971
3,652
4,792
324
39
16
348
258
152
1,619
4,620
4,425
Total........
Grand total Southern District
1,931
1,348
7,013
4,554
8
Nashville Chattanooga A St. L.
Tennessee Central
1,965
8,068
462
411
Northwestern District—
792
656
786
17,130
2,413
20,038
4,058
9,258
Elgin Jollet A Eastern..
21,315
2,642
22,602
4,371
16,520
1,384
8,028
18,173
3,141
20,401
4,022
6,682
1,084
3,790
Ft. Dodge Des Moines A South.
Great Northern
474
371
312
158
122
25,240
23,092
14,710
3,674
3,038
638
620
760
551
537
3,409
1,936
7,113
12,037
2,401
1,909
6,179
1,239
2,024
6,392
11,054
2,057
2,605
Belt Ry. of Chicago...
Chicago
Chicago
Chicago
Chicago
A North Western
Great Western
Mllw. St. P. A Pacific.
St. P. Minn. A Omaha
Duluth Mlssabe A Northern.
_
_
Duluth South Shore A Atlantic.
Green Bay A Western.
...
Rutland
668
738
631
975
5,939
4,665
5,513
3,175
5,131
2,774
8,133
3,518
1,322
1,055
7,848
3,257
Lake Superior A Ishpemlng
Minneapolis A St. Louis
Wabash
158,942
141,727
133,154
164,022
143,103
Spokane Portland A Seattle
481
390
374
766
23,031
2,528
26,144
2,966
17,983
3,368
14,900
1,489
361
280
302
8
8
Alton
1,396
7,334
2
979
17
9
Bingham A Garfield
5,341
11,298
11,041
5,443
4,130
243
146
438
485
4,313
5,666
89
120
688
35,260
6,833
989
359
1,390
Wheeling A Lake Erie
1,152
Minn. St. Paul A S. S. M
Northern Pacific
11,509
3,908
312
276
218
328
250
2,551
2,081
1,375
1,885
1,238
131,364
108,423
96,163
51,733
43,788
21,821
3,334
19,819
3,051
21,189
2,923
6,304
2,574
5,531
2,216
366
283
193
96
39
18,457
1,555
13,014
3,173
1,188
4,355
1,069
1,010
2,342
1,797
1,144
15,112
9,074
8,300
917
900
8,622
2,513
1,401
7,209
2,185
2,736
17,298
1,730
12,516
2,723
1,354
3,519
432
902
31
1,039
2,087
1,546
1,068
1,304
2,079
913
1,103
1,456
1,260
249
92
8
46
18,777
5,725
4,106
1,218
8,894
Spokane International
Total
2,079•
2,240
2,911
Total.
Allegheny District—
Akron Canton A Youngstown..
Baltimore A Ohio
Bessemer A Lake Erie
Buffalo Creek A Gauley
Cambria A Indiana
Central RR. of New Jersey
Cornwall
7,866
1
1
-
933
672
44
52
56
Cumberland A Pennsylvania.._
310
50
327
42
30
Llgonler Valley
Long Island
Penn-Readlng Seashore Lines..
Pennsylvania System
156
18
133
33
21
821
805
901
2,404
1,687
1,274
53,222
14,369
8,568
1,387
54,599
12,771
5,427
1,705
44,438
16,862
2,496
1,323
33,677
14,391
2,376
....
72,773
15,138
14,885
Reading Co
Union (Pittsburgh)
West Virginia Northern
58
3,655
Western Maryland
1,771
6,543
32
1
0
3,081
6,837
5,003
6
;
....
Central Western District—
Atch. Top. A Santa Fe System.
Chicago
Chicago
Chicago
Chicago
Burlington A Quinoy..
A Illinois Midland
Rock Island A Paclfio.
A Eastern Illinois
Colorado A Southern
Denver A Rio Grande Weston.
Denver A Salt Lake
Fort Worth A Denver City
Illinois Terminal..
Nevada
Northern
North Western Paclfio
Peoria A Pekln Union...
114,808
112,357
87,508
Southern Pacific (Pacific)
26,451
24,982
6,948
22,751
11,543
7,967
3,894
1,122
6,560
19,073
4,814
1,216
4,523
922
919
1,226
759
3,426
786
15,189
46,169
18,369
U.
P.
25
94
87
388
889
a
20,563
in
1,386
2,922
4,195
346
System:
289
272
276
16,173
13,945
14,580
1,367
11,349
34
560
10
3
1,980
1,893
1,692
3,103
2,547
120,092
98,768
104,596
60,190
50,323
4,388
,
Western Pacific
13,688
Norfolk A Portsmouth Belt Line
Virginian
Total
827
608
Utah
705
57,172
Norfolk A Western
2,181
26,123
Included
Union Pacific System
Pocahontas District—
Chesapeake A Ohio
11,441
294
...
St. Joseph A Grand Island
Toledo Peoria A Western
114,852
162,081
Total
190
Total.
Southwestern District—
Alton A Southern
9,650
1,275
9,241
1,191
8,229
1,187
4,258
1,594
3,946
1,212
211
212
4,754
220
236
177
229
Fort Smith A Western
Group A—
Atlantic Coast Line
Cllnchfleld
251
Burlington-Rock Island
Southern District—
222
153
227
264
179
2,214
2,704
1,870
1,939
3,895
1,221
817
203
Charleston A Western Carolina.
433
425
330
949
837
170
201
184
396
352
Kansas
Gainesville Midland
42
109
44
136
124
1,233
1,376
1,646
1,333
1,611
632
Louisiana A Arkansas
1,153
142
1,494
Kansas Oklahoma A Gulf
Durham A Southern
Norfolk
Southern
Piedmont A Northern
379
384
415
380
1,142
371
Richmond Fred. A Potomac
376
1,133
905
991
Seaboard Air Line
8,654
7,641
6,742
4,039
2,306
3,599
Southern System.
22,351
20,088
19,167
15,529
13,136
177
173
165
860
779
Winston-Salem
Southbound...
2,988,
City Southern
41,066
44,699
28,329
32,882
38,171
334
145
177
426
251
280
328
894
759
804
569
932
278
228
Missouri
189
155
69
289
220
5,520
18,929
5,172
15,170
5,009
15,939
3,352
9,745
2,84
8,376
61
36
47
29
A
Arkansas
Missouri-Kansas-Texas Lines..
Missouri Paclfio
93
89
111
100
8,294
2,564
9,191
4,804
1,957
2,923
3,749
17,876
4,111
1,809
2,315
3,434
15,937
93
2,608
Texas A Pacific
5.411
6,775
4,417
Terminal RR. Ass'n of St. Louis
2,536
2,038
6,888
5,204
2,799
228
221
212
86
32
36
23
34
30
65,007
54,008
59,364
59,141
51,628
676
785
572
834
868
642
4,482
5,136
3,874
1,601
3,018
1,219
2,840
530
427
269
404
356
526
523
511
584
361
758
775
Atlanta Birmingham A Coast..
Atl. A W. P.—W. RR. of Ala..
Central of Georgia.
Columbus A Greenville
28
SO
St. Louis Southwestern
192*
181
355
10,555
3,428
8,096
Quanah Acme A Pacific
Texas A New Orleans
251
756
1,518
138
Group B—
323
1,857
Midland Valley
St. Louis-San Francisco
Alabama Tennessee A Northern
2,590
Litchfield A Madison
Louisiana Arkansas A Texas*..
Natchez A Southern
Total
252
1,554
1,964
1,092
2,099
751
Northern.
International-Great
162
1,977
Gulf Coast Lines
Florida East Coast
*
Note—Previous year's figures revised,
Previous figures.
Wichita Falls A Southern
Weatherford M. W. A N. W...
Total
b Includes figures for the Boston
Not available.
a
—
A Albany RR., the C. C. C.
A St. Louis RR.
*
and the Michigan Central RR.
United
States Department of Labor Reports Gain of
0.4% in Wholesale Commodity Prices During Week
Ended Oct. 3
commodities other than farm products and foods, representing industrial
0.1%
advanced
commodities,
week of
to a
point
0.3%
above the corresponding
1.9% above the corresponding week of October
September and
1935.
Sharp advances in the prices of farm products
responsible for
an
were
largfely
increase of 0.4% during the week ended
Oct. 3 in the composite
Statistics, United States Department
following is from
an
announcement by the Department
index of wholesale commodity prices
of the Bureau of Labor
The
of Labor:
of
Labor, according to
an
announcement made
on
Oct. 8
by Commissioner Lubin. "The advance partially offset the
decline of the two preceding weeks and brought the allcommodity index to 81.3% of the 1926 average," Mr.
Lubin said.
"The current index is 0.5% higher than it was
four weeks ago and is 1% higher than for the corresponding
week of a year ago." He added:
Five of the 10 major commodity groups increased during the week. Farm
products advanced 1.7%; foods, 0.6%; metals and metal products, 0.5%;
and
textile
products and fuel and lighting materials, 0.1%.
leather products and chemicals
housefurnishing
materials,
Hides and
and drugs declined fractionally. The building
goods
and
miscellaneous
commodity
groups
wholesale
largest
increase
group.
during
the
The advance
prices
of raw
materials
advanced
1%
dining the
week—1.7%—was
was
registered
in
the
the result of sharp increases in
prices of barley, corn, cattle, cotton, eggs, apples, dried beans, and white
potatoes.
Lower prices were reported for oats,
rye, wheat, hogs, sheep,
New York, timothy hay, hops, seeds, onions, sweet potatoes,
The present farm products index—84.5—is 2.9% above a month
live poultry at
and wool.
ago
and 6.3% above a yeajt ago.
Wholesale food prices advanced 0.6% as a result of an increase of 7.3%
in fruits and
vegetables and a fractional rise in prices of cereal products.
on the other hand, declined 0.3% and meats dropped
Higher prices were reported for flour, dried apples, fresh fruit and
Dairy products,
0.1%.
vegetables, fresh pork and beef, mutton, salt mackerel, and tomato
Lower prices were
sugar,
reported for butter, cheese,
and canned vegetables.
it
is
soup.
corn meal, rice, copra, raw
coffee, lamb, cured pork, dressed poultry, dried peaches, raisins
This week's food index—83.0—is 1% above
corresponding week of a month ago.
remained unchanged.
Average
The
farm products
2.7%
Compared with
a year ago,
th
however,
lower.
Prices of semi-manu¬
Pronounced advances in prices of certain iron and steel products, quick¬
factured commodities advanced 0.4% and are now 0.4% above the corres¬
silver, and pig tin caused the index for the metals and metal products group
week and
are
2.2% above the level of a month ago.
ponding week of September.
The index for the finished products
remained unchanged at 82.0 or
0.4% below the level of
Average
a
month
group
wholesale prices of all commodities other than farm products
(non-agricultural) showed little or no change during the week.
remained at 80.6, representing a
month ago and with the
The index
decline of 0.1% both in comparison with
corresponding date of last
year.
to
rise
to
86.3%
of the
1926 average.
Wholesale prices of agricultural
implements, motor vehicles, and plumbing and heating fixtures
ag<J.
a
The index for all
As
a
were firm.
result of continued advances in prices of cotton goods, and higher
prices for overalls, the index for the textile products group advanced to
70.7
Raw silk, woolen and worsted goods, burlap, and raw jute, on the
other hand, averaged lower.
Knit goods remained steady.
Financial
Chronicle
The index for the fuel and lighting materials group advanced to 77.1 due
Widespread
Volume
to rising
143
prices for coke.
prices for
Weakening
hides
steer
and
calfskins
caused
the
hides
and other leather products, such as
to
Due
falling prices for fats and oils, the chemicals and drugs
declined 0.1%.
The index for the
decreases
minor
chinawood
oil,
ethyl
lath,
group
Market prices of quebracho extract, glycerine, and nitrate
averaged higher.
of soda
Wholesale prices of shoes, leather,
harness, belting, and luggage, were firm.
Mixed fertilizers
building materials
group
turpentine,
zinc
oxide,
and
gravel,
and
nails,
.Yellow
pipe.
sewer
prepared
roofing
pine
advanced.
Cement and structural steel remained steady.
The
iijdex for the housefurnishing goods
1926
level.
stationary.
Average prices of both furniture and furnishings
declined
prices
averaged 0.6% lower.
were
also
of
were
1.5%
during
the
the
of
Bureau
of
Labor
and
crude
and
includes
784
price series
weighted according to their relative importance in the country's markets
following table shows index numbers for the main
of com¬
groups
modities for the past five weeks and for Oct. 5, 1935, Oct. 6, 1934, Oct. 7,
Oct.
26,
1936
19,
Oct.
Oct.
Oct.
Oct.
12,
5,
5.
6,
7,
8,
1936
1936
become
August,
the steel, automobile
as
active
more
result
a
as
as
the
over
preceding month
projects
private
new
was
declined,
due to awards for public
while
contracts
all
of
classes,
except for business premises, were larger than in September of last year.
comparison with
included in
on
the
our
August.
a
ago,
records increased
than one-fifth of the industries
more
their
operations, while two-thirds
production schedules—mostly at
same
An
even
tember, 1935, for
at
month
a
favorable record appears in comparison with
more
half of the units in the entire group are
over
were
capacity levels—as in
or near
greater pace, and about 30%
now
ep-
working
have been able to maintain production
scale equal to that of a year ago.
a
Mining has also increased, not only as a result of a seasonal upturn in
the coal fields, but also because of extensions to
plants at some base metal
Sept. Sept. Sept. Sept.
3,
1936
allied industries have
works,
on
Commodity Groups'
to be less than in
seems
widespread
Moreover," he stated, "construction
contracts awarded in September, valued at $16,500,000, were,
the third largest for
any month of the current year and
exceeded those for this August and for September, 1935."
Under date of Oct. 7 Mr. Logan also had the following to
say:
1933, and Oct. 8, 1932:
(1926— 100.0)
more
of seasonal influences.
In
and is based on the average for the year 1926 as 100.
The
improvement is
rubber
wax.
Statistics
"while the rate of increase
The increase
week
Paper and pulp advanced slightly and higher prices
reported for neutral oil and paraffin
index
The
remained at 83.2%
'6'\,V'.+.+ 'v
■
feed
Cattle
group
in
H.
Industrial operations in Canada have again expanded dur¬
ing September, according to S. H. Logan, General Manager
of the Canadian Bank of Commerce, Toronto, who said that
the
remained at 86.9, although
reported in prices of hollow tile, redwood lumber,
were
rosin;
acetate,
unchanged.
were
Expansion
Canada
and
leather products group to decline 0.1%.
the
in Industrial Operations
During September Reported
by S.
Logan of Canadian Bank of Commerce
Average prices for coal and petroleum products
unchanged.
were
2283
1936
1935
1934
1933
properties
1932
also
and
of
continued
expansion
an
in
upward following
gold-mining facilities.
the
active
most
Exports
summer
have
foreign trade
since 1930.
All commodities,
81.3
Foods
.—*
„
.
-
81.4
81.5
80.9
80.5
76.6
71.3
64.9
84.5
83.1
84.8
84.6
82.1
79.5
71.0
57.5
48.8
-
83.0
82.5
83.1
83.5
82.2
85.3
75.2
65.0
61.5
95.7
.
-
81.0
—
Farm products.
95.8
95.4
95.0
94.5
92.5
84.3
91.8
73.0
--
Hides & leather products
Textile products
70.7
70.6
70.2
70.5
70.1
71.7
70.2
76.3
55.3
Fuel & lighting materials
77.1
77.0
76.9
77.0
76.9
74.6
75.5
73.4
71.3
Metals and metal products—
86.3
85.9
85.9
85.9
86.4
86.3
85.7
82.4
80.1
Building materials
70.5
.......... .
86.9
86.9
87.0
86.8
87.0
86.1
85.4
83.7
Chemicals and drugs
81.7
81.8
81.5
81.5
80.5
80.2
77.3
72.7
Housefurnishing goods
83.2
83.2
83.1
82.8
82.6
81.8
82.8
81.1
74.1
Miscellaneous
71.1
71.1
71.2
71.3
71.4
67.2
70.1
65.0
64.1
Haw materials
82.0
81.2
82.1
81.8
80.2
x
x
x
x
Semi-manufactured articles..
76.3
76.0
76.2
76.1
75.7
x
x
x
Finished products
82.0
82.0
82.2
82.4
82.3
80.6
80.6
80.7
80.8
80.7
in
Volume
Cleveland
of
Business
Federal
Reserve
Continues
at
District—
High Level
Stating that "business continued in favorable
volume in
the latter part of
August and the first half of
the Fourth (Cleveland) district at
September in
substantially the highest
x
X
♦
Conditions
—
other
commodities
All
farm products..
X
X
X
than
......
other
commodities
All
.
72.9
80.7
77.8
74.3
68.4
Sept. 30,
also
noted:
Some fluctuation in industrial operations was evident in
the period, but
it apparently was more a result of the shift to
than
79.8
79.7
79.6
79.6
78.3
79,6
78.2
77.1
70.3
Not computed.
industry than to any change in underlying conditions.
The
slowing down in automobile parts plant operations in late August and the
drop in steel mill activity over the Labor Day holiday had
largely been made
up by the third week of September and even at the low
point substantial
gains
Weekly Electric Output 16.4% Above
a
Year Ago
Electric
Institute in its weekly statement
production of electricity by the electric
light and power industry of the United States for the week
ended Oct. 3, 1936, totaled 2,169,442,000 kwh., or 16.4%
above the 1,863,480,000 kwh. produced in the corresponding
The
Edison
models in the automobile
new
assembly
farm products and foods..
x
level of the recovery movement," the Federal Reserve Bank
of Cleveland, in its
"Monthly Business Review" of
disclosed that the
week of 1935.
were
evident from last year at that time.
Industrial employment was greater in August than in
July in Akron,
Canton, Dayton, Columbus, Pittsburgh and Springfield, but was down in
Cleveland and Toledo, because of the reduced
requirements for auto ma¬
terials.
Sizable gains were evident in all centers
last year and
over
September Cleveland and Toledo employment had recovered
loss
sustained
in
the
previous
month.
Shortoges of highly-skilled workers
Retail
trade
in
this
district,
are
Payrolls
continue
still reported in
judging
some
by department
by mid-
most
to
of the
expand.
industries.
and
store
other
reports, increased from July to August by more than the seasonal amount
Electric
output during the week ended Sept. 26 totaled
2,157,278,000 kwh.
This was a gain of 16.1% over the
and the gain in dollar volume from last
year at that time
1,857,470,000 kwh. produced during the week ended Sept. 28,
period
The Institute's statement follows:
1935.
PERCENTAGE
INCREASE
OVER
the first eight months sales
YEAR
1935.
.
.
were
was 12.6%.
In
11.7% larger than in the corresponding
.
Agricultural conditions improved in this district in August and Septem¬
ber
PREVIOUS
of
as
a
result of rains and more favorable
mates are still much below average
and
a
growing weather.
Week Ended
Major Geographic
Oct.
3, 1936
Week Ended
Week Ended
2 Weeks Ended
Sept. 26,
1936 Sept. 19.
12.8
11.6
16.1
14.0
14.8
14.8
16.4
18.1
17.8
19.5
West Central.
12.6
9.4
13.0
13.7
Southern States
22.1
23.8
23.3
23.4
Rocky Mountain
Pacific Coast—
16.0
15.6
16.7
14.0
sec¬
too late to be of
were
help except to meadows and for fall plowing.
Estimated farm in¬
12.8
Central Industrial
much
Crop esti¬
spotty situation exists, some
tions having good late crops while in others the rains
Regions
New England
Middle Atlantic
1936
Sept. 12, 1936
10.0
8.9
16.1
17.2
Level
"In
15.3
was
DATA
FOR RECENT
(In Thousands of
Kilowatt-hours)
Week
1936
6...
June
June 13...
June 20...
June 27...
July
4...
July
July
11...
18...
July
25...
in Millions
1934
1,945,018 1,724,491 + 12.8
1,989,798 1,742,506 + 14.2
2,005,243 1,774,654 + 13.0
2,029,639 1,772,138 + 14.5
1,956,230 1,655,420 + 18.2
2,029,704 1,766,010 + 14.9
2,099,712 1,807,037 + 16.2
2,088,284 1,823,521 + 14.5
1933
1,542
1.435
1,621
1,578
1,442
1,675
1,598
1,656
1,539
1,441
1,610
1.635
1,607
1,604
1.645
1,651
1,644
1,688
1,556
1,648
1,664
1,342
1,416
1,434
1,440
1,427
1,627
1,415
1,674
1,650
1.648
1,627
1,565
1,630
1,432
1.436
1,465
1,424
1,476
1,491
1,684
1.658
1.659
5...
2,098,924 1,752,066 + 19.8
Sept. 12...
Sept. 19...
1,634
Sept. 26...
2,028,583 1,827,513 + 11.0
2.170,807 1,851,541 + 17.2
2,157,278 1,857,470 + 16.1
1,631
1.649
1.663
1,639
1,653
3...
2,169,442 1,863,480 + 16.4
1,659
1,646
Aug. 15...
Aug. 22...
Oct.
1,457
1,648
1,654
1.662
1,650
Sept.
8...
1931
1,655
1,665
Aug. 29...
1...
Aug.
of Kilowatt-hours
1932
1,637
1,583
1,643
1,629
1,643
1,638
1.636
1,582
1,663
1,499
1,660
1.646
1,506
1,653
1930
The Bank continued:
1929
1,657
1,707
1,698
1,704
1,594
1,626
1,667
1,686
1,678
1,692
1,677
1,691
1,688
1,630
1,727
1,722
1,714
1,711
1,690
Department store sales in this district during August were about 4%
larger than in the same month a year ago, but there was one more business
1,699
dya in August, 1935, than in that month this
1,703
1,723
1,592
1,712
1,727
1,723
1,725
1,730
1,733
1,750
1,762
Raw cotton
FOR RECENT MONTHS
consumed
on
a
during August was 3,236 bales,
average
of 3,312 bales.
August,
this
1935 and August,
district
.
.
but
an amount
1936.
less
Consumption of
than
over
July by
raw
According to the Massachusetts
wage-earners
Jan
Feb
March
.
April...
May...
June
July...
8,664,110
8,025,886
8,375,493
8,336,990
8,532,355
8,640,147
9,163,490
August.
Sept
—
Oct
NOV
Dec
Total-
1935
Ch'ge
(THOUSANDS OF KWH.)
7,762,513 + 11.6
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
93,420,266
+ 13.9
+ 11.7
+ 12.9
+ 13.1
+ 16.7
+ 17.5
crease
1934
7,131,158
6,608,356
7,198,232
6,978,419
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
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
1932
1931
and
an
7,435,782
6,678,915
7,370,687
6,294,302
6,219,554
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
6.317,733
6,633,865
6,507,804
6,638,424
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%
by mills in
than
the
corresponding month
Department of Labor
an
an
increase of 5.3%
representative
usual
a year
manufacturing
and
Industries,
increase of 3.7% in the number of
in the amount of weekly payrolls
establishments
in
Massachusetts.
increase of 1.5%
in employment occurred in the boot and shoe
of from 1 to
7,011,736
6,494,091
6,771,684
6,130,077
6,112,175
6,310,667
July daily
average con¬
between July and August in average
weekly earnings per person employed.
The Department stated that these
P. C.
1936
of—
the
wool
more
aggregate changes were largely of seasonal character.
Month
.
.
between July and August there was
among
.
nearly 51% occurred between
was smaller than in the
1,792
1,778
.
basis by New England mills
2.3%
an increase of
1,675
1,806
1,819
year.
aversge
during August increased
seasonal amount,
ago.
daily
In August, 1935, however, the daily
sumption was 2,144 bales, and
There also was
DATA
District—August
Above July
August general industrial activity in New England
a higher level than
during July, after allowances had
of Oct. 1.
1935
2,079,137 1,821,398 + 14.2
2,079,149 1,819,371 + 14.3
2,093,928 1,832,695 + 14.3
2,125,502 1,839,815 + 15.5
2,135,598 1,809,716 + 18.0
Aug.
at
Industrial Activity
of
despite a small
quantity of com¬
mercial and factory building contracts awarded," said the
Federal Reserve Bank of Boston in its
"Monthly Review"
WEEKS
Weekly Data for Previous Years
P. C.
period
been made for customary seasonal
influences,
decrease in cotton consumption and in the
Ch'ge
of—
far this year it has exceeded any similar
Conditions in Boston Federal Reserve
9.7
16.4
so
back to 1930.
18.5
12.0
Total United States.
continues to rise and
come
are
5% in
many other
The
principal in¬
industry, with increases
important industries.
Manufacturing
Employment
and
Payrolls
During
August Above July, According to National Indus¬
trial Conference Board
A
gain of 2.4% in manufacturing activity,
as
measured by
total man-hours worked, was noted in August as
compared
with July, according to the reports from manufacturers in
25 industries received
by the National Industrial Conference
Board, which reported that the number of workers employed
increased 0.3% in August while total payroll disbursements
rose 2.1%.
Under date of Sept. 30 the Conference Board
also
said:
weekly
Average
earnings were
This resulted from an increase of
rose
from 39.2 hours in
a
the increase in the
periods of depression, de¬
cline more rapidly and recover more rapidly than general prices.
Part of
the advance, however, was attributable to declines in the expense items of
taxes, interest and depreciation.
Farm taxes decreased from $285,000,000
in 1932 to $271,000,000 in 1935; farm mortgage interest declined from $291
000,000 to $246,000,000, and depreciation charges dropped from $548-
offset by
Real weekly earnings were 1.3% higher in August
rise in living costs.
nominal weekly earnings, however, was
than in July.
increased 2.2%; average hours
9.8%.
The cost of living has not risen to the same degree as have weekly money
earnings, with the result that the purchasing power of weekly earnings was
5.8% higher in August of this year than in August of last year.
Employment in manufacturing increased 7.6% in August, 1936, over
August, 1935.
Total man-hours worked exceeded those of August, 1935,
1935, hourly earnings have
Since August,
000,000
and average weekly earnings,
of work, 7.0%;
rise in net farm income was
The chief reason for the
These always, during
prices of farm products.
>*«m|
July to 40.0 hours in August.
Part of this increase in
amounted to approximately $750,000,000
however, it
1935,
according to the Board's estimate.
-*j*4 ■ V
61.6 cents. «-t-y*
In
come.
August than in July, declining
tm
Mt mm -JBm
A
1.8% higher in August than in July.
2.0% in the average work-week, which
Average hourly earnings were 0.2% lower in
from 61.7 cents to
Oct. 10, 1936
Chronicle
Financial
2284
$501,000,000. "
to
Cash
increased during the period, rising from
$402,000,000 in 1935. Rent payments also ad¬
$756,000,000 to $999,000,000.
paid by farmers
wages
$380,000,000 in 1932 to
vanced, increasing from
ivYYY V-Y'-Y
18.1%.
1929, shows that average hourly
earnings in August, 1936, were 4.4% higher.
Although weekly money
earnings were 13.4% below the August, 1929, level, real weekly earnings
were 2.3% higher and average hours worked per week were 17.2% lower.
There were 12.7% fewer workers employed, total man-hours worked were
~—♦
by 15.1%, and payroll disbursements by
Sept. 26, 1936
Comparison with conditions in August,
27.8% lower, and total payroll disbursements were
Y':;
produc¬
marine labor
26
of
are
new
accounted for chiefly
advanced more rapidly than
the cost of living.
3.6%
or
1929
cost of living index, taking
100, was 83.7, and the
as
This gave an index of
earnings was 86.7.
production,
267,874,000 feet.
Southern
pine, West
The Board's statement, issued
change during the month.
hardwoods reported orders
three regions and
California
All reporting soft¬
wood regions but Southern cypress reported orders above the corresponding
week of 1935 ; all but Northern pine and Northern hemlock reported
shipments above last year's week, and all but Western pine reported pro-'~
:
week.
for the week ended Sept. 26, 1936, by 494
239,534,000 feet, the same as the production of
Shipments as reported for the same week were 253,771,000
1935
above the
totaled
mills
same
reported
orders
Lumber
softwood
mills.
Production was 239,438,000 feet.
give new business as 12,806,000 feet,
or
2% above production.
Shipments as reported for the same week were
12,100,000 feet, or 8% below production.
Production was 12,501,000 feet.
6% above production.
feet, or
from 96 hardwood mills
Reports
Identical
trade declined by slightly more than the usual
seasonal amount during June.
at 35.2
value of
The combined index for 75 countries stood
4.6% below that in May.
In June, 1935, the gold
international trade was estimated at 32.4% of the 1929 average.
(1929—100),
or
Northern
production
duction
the
and
Coast
in the week ended) Sept. 26.
These
redwood reported shipments above output.
above
Sept. 21, continued:
The gold value of world
263,667,000 feet;
orders,
Slight Increase Noted in World Industrial Production
During July by National Industrial Conference
Board—Gold Value of World Trade Lower in June
Netherlands, and several of the Central American countries.
Conditions in France, Italy, Poland, and Japan showed little
feet; shipments,
269,076,000
604;
Mills,
Germany, Belgium, Norway, Sweden, Austria, Australia,
and in most of the South American countries, the Board said,
while some recession occurred in Canada, Switzerland, the
softwoods
and
252,340,000
of
orders
World industrial production during July increased modrerately over the level of the preceding month, according to
the monthly statement of the National Industrial Conference
Board.
Production rose in the United States, Great Britain,
from
ended Sept. 26, 569 mills produced 251,939,000 feet
combined; shipped 265,871,000 feet; booked)
feet.
Revised figures for the preceding week were:
the week
hardwoods
of
six months of 1936 were
compared with 48.3 in 1929.
as
Association
the operations of important
Reported new business dur¬
ported :
During
Average hours worked per week in the first
38.4
index of average weekly
"real" earnings of 103.6,
1929 level.
above the
Manufacturers
26 was 0.2% above production;
Reported new business
19, was 0.4% below pro¬
duction; shipments were 2% below output.
Production in
the week ended Sept. 26' was shown by reporting softwood
mills 4% above the corresponding week of 1935; shipments
were
22% above and orders 20% above shipments and
orders of last year's week.
The Association further re¬
purchasing power of wages is
For the first six months of 1936 the average
0.8% above, and
week ended Sept.
ing the
turing statistics made public on
Conference Board, which continued:
money
were
according to reports to
Shipments were 6% above output.
of the previous week, ended Sept.
Industrial
the average for
National" Lumber
regional associations covering
hardwood and softwood mills.
analysis of manufac¬
Oct. 3 by the National
The current higher
orders
the
shorter, it is pointed out in an
by the fact that weekly money earnings have
preceding week; shipments
6% below that week,
the
of
Weekly
>
1929, while average weekly working
than in the boom year,
to anticipated
October. Re¬
ported national production during the week ended Sept.
6% fewer mills was 6% below revised production figures
.
Purchasing poWer of average weekly earnings of wageearners employed in manufacturing industries is higher today
hours
week of the year to date, partly due
trouble on the West Coast in
of any
Finds Purchas¬
Manufacturing
Power
of Average
Earnings Above 1929
ing
ended Sept. 26,
during the week
industry
1936, stood at 68% of the 1929 weekly average of
tion and 71% of 1929 shipments.
Shipments were heaviest
24.5% lower than in
-V
♦
Conference Board
National Industrial
lumber
The
•;'''"7
August, 1929.
:YYY
Week Ended
.
Movement,
Lumber
of
Report
Weekly
feet, and a
247,295,000
Reports
production of 466
195,579,000 feet.
and
feet
Mill
identical softwood mills was 233,593,000
year ago it was 225,020,000 feet; shipments were, respectively,
feet and 201,945,000 feet, and orders received; 234,350,000
week's
Last
4.
Substantial improvement took place in
the six-months' period ended March,
The physical
volume of trade, estimated at 80.1% of the 1929 level during the first three
months of this year, declined to 79.3% in the second quarter|
World prices of foodstuff and raw materials rose sharply in July.
The
Automobile Factory Sales
1936; little further advance has occurred since that time.
combined index of nine commodities reached 71.4%
This figure represents an increase
of about 14% during the past year and
during the period since the depression low point in 1932.
124%
were
of the 1928 average.
Prices
higher in the month for all commodities except sugar, with the largest
facturers
amounted to 2,561,905 cars and trucks, according to
preliminary report released Oct. 7 by the Association.
On the basis of this estimate operations for the group are
year
the
above last year and 72% above
running 26%
percentage gains shown in wheat and cotton.
Wholesale
countries.1
Great
commodity prices advanced during July in most of the major
Substantial increases occurred in the
Britain,
reports,
France,
further rise in
a
and Japan.
United States, Canada,
According to preliminary
these countries is indicated for the month of
Prices in Germany showed little change during July and August.
August.
Wholesale
Great Britain have been
prices in
since the middle of June,
on
Sweden,
and on Sept. 2 were about 20.5% above the level
the date of the suspension of
increase in commodity prices
the gold standard in September, 1931.
The
in France since the policies of the new govern¬
ment have become effective has
since the low point
advancing almost steadily
been about 5%, and approximately 22%
The Conference Board reports that
security prices rose during August and
early September in most of the important markets..
bined index of common stock prices in
On Sept. 5 the
of 1932.
and
units,
The
ap¬
recovered moderately during the first two weeks in
September.
,
.
♦
124% from 1932 to 1935 in Net Farm Income
from
Farm
Production
Reported
by
National
Industrial Conference Board
Increase of
production more than doubled
advancing from $1,758,000,000 to
Net farm income from farm
from
1932
to
1935,
$3,943,000,000, an increase of 124%, according to a report
on
Oct. 3 by the National Industrial Conference
issued
During the same period gross farm income rose
$5,211,000,000 to $7,727,000,000, a gain of 48.2%.
Board.
from
These figures
exclude all income received by farmers from
governmental and benefit payments, said an announcement
by the Board, bearing on its report, which added:
In addition to the net income
received from farm production, the Con¬
derive a substantial supple¬
mentary income from work done off their farms.
This added revenue#!
the Board explains, is generally overlooked in evaluating the net farm in¬
ference Board
points out that farm operators
decrease
which covers all but one of the major pro¬
vehicles in the United States, is summarized
report,
ducers of motor
below:
L
56,302
206,193
59,329
1936—
1936-
September,
September,
1935
9 months, 1936___
9 months, 1935
2,561,905
2,030,897
com¬
11 leading countries reached
This represents an increase of about 89% since the low
After declining sharply during mosr of August, prices on the Paris
markets
a
last year.
Report of Canadian Crops Issued by Bank of
Montreal—Drop
in
Wheat
Reported
Partially
Final
period.
Berlin
only a
56,302
of 5% under the corresponding month
September shipments of Association members, with
companies in new model production, amounted to
few
proximately the same level as in April of this year, the high point for the
recovery
the five-year
•
average.
August,
reached in 1935.
Dropped in September
by members of the Automobile Manu¬
Association during the first nine months of this
Factory shipments
High Grade and Quality of Grain
Offset by
report for the year, the Bank of
"while this year's total wheat crop in the
In its final crop
states that
Montreal
Canadian
provinces is estimated to be less than that of last
the lower production is partially offset by the high
grade and quality of the grain." The bank said that "the
Dominion Bureau of Statistics' estimate of the wheat pro¬
duction of the three Prairie Provinces, namely 216,000,000
bushels, is 43,500,000 less than last year's yield and compares
Prairie
year
with
a
The
of 358,192,000 bushels." The bank's
continued:
10 year average
report, issued Oct. 8,
estimated
average
wheat
yields
by provinces are Manitoba,
12
bushels; Alberta, 9.3 bushels. The 1936 wheat
acreage in the Prairie Provinces is officially estimated at 24,522,000 acres
or
1,000,000 acres more than last year.
Production of coarse grains was
substantially lower and winter feed supplies are insufficient in a number of
districts.
Oats are estimated at 136,408,000 bushels and barley at 55,bushels, Saskatchewan, 8
208,000 bushels.
With the exception of a small acreage in the Peace river
completed. Deliveries of wheat by farmers to country
district threshing is
elevators
with
from
Aug.
1
to
Oct.
3
totalled 106,115,000 bushels compared
101,315,000 bushels during the same period last year.
Volume
In
Financial
143
Quebec crop results generally
were
good except that
very
apple crop resulted from spring frosts and that the yield of sweet
reduced
by the
Ontario
crops
borer.
corn
In
satisfactory.
were
other
yield but Spring grains
Hay crops were light.
(In Short Tons—96 Degree Equivalent)
corn was
crops
Area
1936
during the harvest
There is
season.
a
Hawaii
vegetable production normal.
Total
In
addition
season.
other
to the
insular
from
first
full-duty
1935
$1.13
Sugar Beet Adjustment Payment Fixed
Ton by AAA
at
against
quotas
which
per
The
Agricultural Adjustment Administration announced
on Oct. 1 that the total 1935
sugar beet adjustment payment
would be at the rate of $1.13 per ton of sugar beets
produced
and delivered.
of
of
price of $5.77 for the 1935
of sugar beets—
crop
.
♦
PRODUCTION
OF
FLOUR
(NUMBER
OF
admitted
in
1936,
entry
admitted
the
January-September,
the
of
amount
and
year
charged
the .amount
from
the
area
-
(Pounds—96 Degree Equivalent)
Area
Quantity Which
May Be
Charged
Against
Balance
Admitted in 1936
Quota
Remaining
Argentina
14,577
294,308
564,205
288,114
20,597
263,302
Belgium
Canada
'
China and Hongkong
Costa Rica
94
14,483
294,308
564,205
288,114
20,597
263,302
6,668,480
211,384
334,902
921,614
6,031,877
217,865
6,668,480
Nicaragua
10,221,004
Peru
11,114,100
350,667
8,264,140
2,701,750
11,114,100
Haiti
Mexico
Netherlands
United Kingdom
Unallotted reserve
Total
211,384
334,902
920,200
267,831
1,414
5,704,046
217,865
7,519~254
350,667
8,130,809
133",331
32,348,608
45,781,136
13,432,528
No
sugars have been entered against the 1936 quotas for the
following countries
Australia, quota 204 pounds; 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, and Venezuela, 290,002.
BARRELS)
Month of September
3 Mos. Ended Sept. 30
AAA
Announces
Initial
ments
1936
be
the
specified:
Guatemala
Inc., in presenting its summary of flourmilling activities for approximately 90% of all flour mills
in the principal flour-milling centers of the United States
reported that during the month of September, 1936, flour
output totaled 5,458,266 barrels.
This was a decrease from
the 5,801,756 barrels produced in the corresponding month
of
1935.
Cumulative production for the three months
ended Sept. 30, 1936. amounted to 17,753,841 barrels. This
compares with 15,876,988 barrels produced in the like period
a year ago.
The corporation's summary further disclosed:
for
the
period
Dominican Republic
Dutch East Indies
General Mills,
Cuba and the
may
The following table shows, in pounds,
Czechoslovakia
September Flour Output Totaled 5,458,266 Barrels
certified
or
during the remainder
per
market
which
sugar
during
be
may
the
during
the
entered
year.
be admitted
may
against the quotas for
of
part
was
the
which
sugar
Since the initial 1935 payment was 80 cents
ton, the final 1935 payment is 33 cents per ton.
The
AAA said that the total 1935 payment of $1.13
per ton of
sugar beets produced and delivered represents the difference
between the parity price of $6.90 per ton and an
average
large
a
countries
months
nine
charged
sugar
areas,
amount
Total
108,130
Full-Duty Sugars
and other
year
586,438
—
good supply of
Owing to winter damage the fruit tree crop
materially below that of last
was
than last
68,429
5,285
12,030
22,386
satis¬
fodder. In British Columbia grain crops were satisfactory, hay fair to good,
total yields of tomatoes and potatoes were larger
390,276
120,748
17,586
57,828
694,568
Puerto Rico
factory year although some loss in the yield and quality of grains resulted
from too much rain
Remaining
458,705
126,033
29,616
80,214
Cuba
Philippines—
a
Balance
Against Quota
a
below average.
Throughout the maritime provinces farmers generally enjoyed
Quantity Charged
Quota
the
of
gave
The yields of most
promising.
are
much
were
portions
Winter wheat
unsatisfactory in yield and quality.
were
Late root
kinds of fruits and of tobacco
2285
small
a
In the eastern and southwestern portions of
of all kinds
province yields were severely affected by drought.
normal
Chronicle
1935
1936
1937 Sugar Marketing
Philippine Producers
to
1935
Allot¬
Allotment of the initial 1937 sugar
marketing quota for
the Philippine Islands to sugar producers in the
_
Northwest
1,088,294
Southwest-
-V
4,010,439
466,708
1,910,406
388,195
5,458,266
Total for mills reporting
5,801,756
3,967,422
5,672,993
5,129,559
6,566,210
5,685,269
1,501,923
17,753,841
1,774,717
Pacific Coast
Entries
1,526,971
1,976,184
2,128,547
Lake, Central and Southern
1,097,014
15,876.988
of
Sugar into United States Against Quotas
Jones-Costigan Act—4,524,911 Short Tons
Imported from Off-Shore Areas During First Nine
Under
Months of Year
The
Sugar
Section
ministration
issued,
1936
status
the
on
Costigan
shows
for Cuba,
Islands
and
the
the
quotas
sugar
under
Allotment
and
Act.
the
the
Jones-
The
report
the 1936
by the
Sugar Section, which
added:
and
duty
countries-include,
Oct.
1,
1936,
quantities in
final
sugars from Cuba, the Philippines, Puerto Rico,
Hawaii recorded as entered or certified for
entry
Oct. 1, 1936.
The statistics pertaining to full-
prior to
areas
all
in
addition
quantities
transit
Oct.
on
outturn-weight
1,
and
the
to
certified
actually entered
sugar
for
before
entry,
including such certified
The figures are subject to
change
1936.
polarization
data
for
all
importations
are
available.
There
were
quota
for
value,
against
first
the
145,641 short tons of sugar,
continental sugarcane areas
the
quota
for
the
value,
and
continental
charged against the
819,387
sugar
short
beet
tons,
during
area
Sugar
Quota
the provisions
of General
Sugar Order No. 1, Revision
Th^ quantities charged against the principal offshore
first
nine months of
1936
are
1.
areas
during
the
follows:
as
the
made
to
Philippine
sugar
producers
upon
in 1936.
The initial quota may be revised
by the Secretary of Agriculture in accordance with the
pro¬
visions of the Jones-Costigan Act and Public Resolution
No. 109.
Adjust¬
same
as
ments of the initial allotments in the Islands
may
States High Commissioner to the
be made by the United
Philippine Islands.
The ailotments were made effective by 1937
Order No.
The
Philippine Sugar Allotment
1, which has been signed by Secretary Wallace.
making such
allotments
allotments
is
contained
in
the
Provision for
Jones-Costigan Act and
in
109, 74th Congress.
made
to
producers
total
952,000 short tons of sugar,
commercial weight, with the provision that the
quota of 998,110 short tons
terms of raw value shall not be exceeded.
The 952,000 short tons of
in
commercial weight is the quantity of Philippine duty-free
sugar
sugar,
which may enter the United States
the
during the calendar year 1937, under
Tydings-McDuffie Act, also known as the Philippine Independence Act.
Of
the
952,000
56,000 short tons
short
may
tons, commercial weight allotted to producers,
be in the form of refined sugar.
This amount of
has been allocated
States during
on
the basis of shipments of sugar to the United
1936.
the
Data^for September are not
yet available.
offshore areas are shown as revised
by General
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
tons of sugar
originally entered under bond in December, 1935, pursuant
to
been
basis
by
raw
eight months of 1936.
Quotas for the various
have
7
if necessary
sugar
raw
allotments
Public Resolution No.
report includes all
those
The
Oct.
on
substantially the
Philippines, Puerto Rico, the Virgin
during the first nine months of 1936
4,524,911 short tons, raw value, said an an¬
Virgin Islands
after
of
Hawaii
to
nouncement
from
Agricultural Adjustment Ad¬
Oct. 5, its ninth monthly report of
Sugar Control
amounted
This
of the
on
that the quantity of sugar charged against
quotas
Islands, was
Agricultural Adjustment
Administration. "The initial 1937 quota for the
Philippines
of 998,110 short tons, net
weight, raw value, has been
allotted among sugar producers at this time as in
prior
years, because grinding of the Philippine sugarcane
crop
will soon be under way," the Administration
explained. "Of
this quota, 80,214 short tons, raw value,
may be in the form
of sugar for direct consumption either as raw or refined
sugar." The announcement of the AAA continued:
announced
September Activity in Rayon Industry in United States
at High Level
Activity in the rayon industry in the United States was
again of record-breaking proportions as compared with cor¬
responding months, according to the current issue of the
"Rayon Organon," published by the Textile Economics
Bureau, Inc., New York.
Simultaneously, the "Organon"
states the 1936 retail
holiday trade may surpass that of the
1928-29, due to three important factors now operating.
The following is also from an announcement
issued Oct. 9
by the Textile Economics Bureau:
years
(Tons of 2,000 Pounds—96
Degree)
-Area
1936
Sugar Quotas
Established
Amounts Charged
Against Quotas
Under the Latest
Regulations
Cuba
2,085,022
1,098,738
97,909
on
July 27
902,542
848,935
864,077
5,926
Less amount reallotted
Hawaii
Virgin Islands
Total
2,342
5,052,91)
Direct-consumption
the
included
cates
sugar
the
in
various
the
sugar
quotas
is
included
since
the
in
the
Stocks of non-acetate yarn held
by producers at the end of September
be admitted
the
a
decline from the 0.4 month's
supply held at the
Record Retail Holiday Trade
Expected
above
amounts
direct-consumption
for
0.3 month's supply based upon average monthly
shipments
This fugure, both in actual pounds and relative to
end of August.
sugar
charged
quota
total
may
a
during the past year.
shipments, represents
is
quota for each area.
The following tabulation indi¬
direct-consumption sugar quotas, amounts of
direct-consumption
admitted dming the period January-September,
1936, as well as
which
American mills in September,
accomplished only through heavy withdrawal from producers'
stocks,
were already at an
exceptionally low level.
equaled only
4,524,911
the
amounts
to
which
Direct-Consumption Sugars
against
yarn
represents a decline from the all-time high August level of
633, which level
was
Puerto Rico
of non-acetate rayon
measured by the "Organon's" index of
rayon deliveries, represents yarn
consumption equal to capacity production of domestic mills
plus a small
amount drawn from producers' stocks.
The total consumption last month
1,907,015
1,000,829
901,839
1,059,294
Philippines—Total quota
Deliveries
as
remainder
of
the
year:
As regards retail trade, the
"Organon" states "there will be at least three
important factors operating
tinuing large
made.
Government
will force large
third is
over
bonus
the next few months.
and
relief payments
First is the
of all kinds
con¬
being
Second is the incident effects of the
a
new corporate tax
law, which
dividend payments to stockholders by the year-end.
And
good business activity which
means
better salaries and
wages
Financial
2286
available.
holiday
With
such
as
these three influences
season even
operative simultaneously, a retail
surpassing that of 1928-29 for volume is by no means
Especially will this
improbable.
be
true in
the so-called luxury goods
furs, jewelry, expensive textiles, etc."
Chronicle
Oct.
1936
10,
of domestic and foreign crude dipped 3,382,000
during the week ended Sept. 26, the Bureau of Mines
reported on Oct. 7.
The decline represented a drop of
Stocks
barrels
2,832,000 barrels in domestic crude and 550,000 barrels in
foreign crude.
Total stocks
Sept. 26 vfere 294,568,000
on
barrels.
Petroleum
and
United
Its
Products—Revival
Control
States
of
of
Move
for
Industry
Reported—
Compact Group to Meet with Federal Officials on
Long-Term Forecasts—Crude Production Dips in
Week—A. P. I. to Meet in Chicago
;\
.
Secretary of the Interior Ickes will
legislation designed
to restore Federal control over crude oil production and
marketing before President Roosevelt and the incoming
Congress, it was indicated in reports from Washington.
Although making no comment upon the report, Secretary
Ickes answered the recent complaint of the Texas authorities *
concerning the October market forecasts of the Bureau of
Mines, stating that if all oil State's exceeded the Bureau's
estimates as Texas first planned, there would be no change
of either stable prices or conservation of oil.
"The Bureau's estimates are impartial," he said, "we are
not playing any favorites."
This remark was in answer to
complaints of Texas control authorities that the Bureau of
Mines was unfair in recommending higher production during
October for New Mexico and Louisiana, while paring the level
for
press
Texas.
originally planned to ignore the
recommendations of the Bureau of Mines and set production
substantially in excess of the Bureau's estimate.
Swift
opposition to the planned increase developed, however, and
when action was started in Oklahoma to lift October produc¬
tion in that State some 50,000 barrels above the Bureau's
recommendations, E. 0. Thompson,
Chairman of the
Commission, indicated that the Commission would lower
their original quota to conform with the Bureau's figure.
In commenting upon the current situation in the industry,
Secretary Ickes said:
"I have never believed in compacts.
California, one of the three largest oil-producing States, is
not a member of the compact system."
Mr Ickes has fought
theinter-State compact planf or industry-control of production
from the outset holding that Federal control was the only
answer to the industry's troubles.
Representatives of the six member-States of the Interstate
Compact Commission will meet With Bureau of Mines officials
in Washington on Oct. 10 to discuss the possibility of the
latter compiling six months' petroleum market demand
j In asking for the conference, the
group
wired
Mr. Ickes fhat the compact States are seeking "a six-months'
on the market demand for crude petroleum so that
forecast
small
producers
may
have
a
picture of market possibilities
kept on an
with the aim in view that employment may be
even keel through the winter."
The Texas Railroad Commission has set Oct. 19
for
a
In
its
statewide
was
as
the date
of
and gas proration meeting
oil
the
made effective
byj the Old Dutch Refinery Co., largest
independent refinery in the State.
The company is now
paying $1.37 a barrel for crude.
The company has been
bringing in Mid-continent crude at a cost of $1.12 plus trans¬
portation charges to Michigan.
annual
of the American Petroluem
Chicago, at the Stevens Hotel,
Nov. 9 to 12, it was announced.
About 3,000 oil men are
expected to attend the yearly meeting of the trade group.
More than 100 offices, including that of Institute president,
and 45 memberships on the Board of Directors, are to be
filled by election.
Daily average crude oil production dipped below the
will
meeting
held
be
in
3,000,000-barrel mark in the first week of October for the
more than a month, the American Petroleum
first time in
Institute reported.
Output was off 42,250 barrels to 2,987,Bureau of Mines' October estimate
of 2,864,000 barrels and actual production in the like 1935
period of 2,719,600 barrels.
Oklahoma, Kansas? Louisiana
and California all reported lower production.
Texas, how¬
ever, was substantially above the previous week's total.
Price changes follow:
800 barrels, against the
Oct. 6.—Old Dutch Refinery posted a price of $1.37 for Central Michigan
crude oil, up 5c. a barrel.
V-.v/'''-;-/"'
Prices of Typical Crudes per Barrel at Wells
(All gravities where A. P. 1. degrees are not shown)
$2.45
Lima (Ohio Oil Co.)
1.15
Eldorado, Ark., 40
Rusk, Texas, 40 and over
Corning, Pa
1.42
Darst Creek
Illinois
..$1.10
1.15
.97
1.23
Western Kentucky„
Mld-Cont't, Okla., 40 and above..
Winkler, Texas
Smackover. Ark.. 24 and
REFINED
Central Field, Mloh...
1.23
....
Sunburst,
1.18
Huntington, Calif., 30 and over...
Kettlemen Hills, 39 and over
Petrolta. Canada
.85
.75-.80
over
PRODUCTS—GASOLINE
VANCE—HIGH
STOCKS
REFINERY
1.32
Mont
1.15
...
SHOW
OPERATIONS
1.22
1.43
2.10
SHARP
AD¬
HELD
RE¬
SPONSIBLE FOR JUMP—CRUDE RUNS TO STILLS ADVANCE
—MOTOR
FUEL
PRICES
CUT
IN
PHILADELPHIA
An
abnormally large gain in stocks of finished and un¬
finished gasoline was disclosed in the American Petroleum
Institute report for the week ended Oct. 3 which showed
motor fuel inventories at 57,610,000 barrels, up 1,138,000
barrels from the previous week.
The increase in stocks, the first since early summer, is a
normal seasonal development at this time of the year.
The
jump, however, was larger than due and was due to the ab¬
normally high operating rates at refineries which are busy
building up inventories of fuel and gas oils in anticipation
of heavy winter demand.
Gasoline held at refineries rose 310,000 barrels during the'
week to 31,221,000 barrels while bulk terminals showed
an
increase of 785,000 barrels at 20,001,000 barrels.
Stocks of
unfinished gasoline gained 43,000 barrels, totaling 6,338,000
barrels
on
Oct. 3.
An advance of
at Austin.
meeting, the Commission asked that
purchasers of oil file on that date their nominations to
purchase for the ensuing six months beginning Nov. 1, next.
The'meeting will be the first at which long term forcast of
market demands will be attempted.
The compact group will meet again Dec. 1 in Oklahoma
City to take further action toward extending the agreement,
and discussing activities of its oil conservation and uniform
police power committees.
E. O. Thompson, of the Texas
Railroad
Commission, was elected compact Chairman,
succeeding Governor E. W. Marland of Oklahoma.
Hiram
Dow, representing New Mexico, was named new first vicepresident with William Bell, representing Illinois, second
vice-president. A. L. Walker, of Oklahoma City, was re¬
elected
secretary.
Although observers from California,
Pennsylvania, Kentucky and Wyoming attended the Oct. 1
meeting, no move toward joining the compact was made
by any of the four States.
Answering a statement issued by the Republican National
Committee in Washington on Sept. 25, criticising the enact¬
ment in 1935 of the O'Mahoney-Greever oil and gas-leasing
bill, Secretary of the Interior Ickes on Oct. 5 charged that
"the Republican National Committee has come to the aid
of oil speculators and unscrupulous promotoers who have,
in the past, engaged in the oil-prospecting permit racket to
mulct thousands of uninformed persons of their life savings,"
"Such an attack upon a wise oil-conservation law as
has been made by the Republican National Committee
comes naturally, if with poor grace, from the
party of the
malodorous Teapot Dome scandal," Mr. Ickes declared.
"The new law discourages the vicious practice of holding
large acreages for long periods without anj' investment or an
attempt at development—a practice followed by many
under the old law.
Less
than
5% of the 38,000 gas
permits issued from 1920 to 1935 actually resulted in drilling
tests by the holders.
Apparently nearly all of the permits
were obtained for speculation and not for
prospecting.
The
permit system developed into a racket which the leasing
system, provided by the new law, will reduce to a minimum."
A 5-cent increase in the price of Central
Michigan crude
notice
17th
Bradford, Pa
The Railroad Commission
forecasts.
The
Institute
0.3% in refinery operations lifted the rate
78.7% of capacity, with runs to stills averaging 3,000,000
barrels daily, an increase of 10,000 barrels.
Gas and fuel
oil stocks expanded by 208,000 barrels, in contrast to a drop
in the preceding week.
Production of cracked gasoline was
unchanged at 690,000 barrels daily.
!
Developments in the local refined products market were
featured by a 1-2 cent reduction in tank car prices of gasoline
by the Socony-Vacuum Oil Co. posted on Oct. 9, and
effective the following Tuesday.
Under the new schedule,
New York, Boston and Providence prices will be 7 cents a
gallon.
Portland, Me., was cut to 7L£ cents a gallon.
The
change is not effective in Western New York.
Other
companies followed the reduction.
Kerosene prices firmed
to
in the local market
A 2-cent
as
seasonal factors increased demand.
gallon price cut in retail gasoline prices in the
Philadelphia area by independent distributors on Oct. 5
was met two days by major
companies, who slashed prices
1^2 cents a gallon.
Under the new schedule, the majors
are quoting regular grade at 16 cents and
premium at 18
cents a gallon, taxes included, respectively.
Representative price changes follow:
Oct.
a
5—Independent
distributors
cut
retail
gasoline
prices
2
cents
a
gallon in the^ Philadelphia area.
7—Major companies cut gasoline 1% cents
Oct.
delphia
area
to
a
gallon in the Phila¬
16 cents, including taxes, for regular.
Oct. 9—Socony-Vacuum cut tank-car prices of gasolene 34 cent a gallon
to 7 cents at
New York, Boston and Providence.
Portland, Me.,
cut
was
34 cent to 7 % cents.
U. S. Gasoline (Above 65 Octane), Tank Gar Lots, F.O.B.
New
Refinery
Colonial Beacon. .$.07 34
Chicago
Standard Oil N. J..$.07
Texas
0734
New
Socony-Vacuum
.07
Gulf
07
Tide Water Oil Co..
.0734
Shell East
07
Los Ang., ex.
Gulf ports...
Richfield Oil (Calif.)
.0734
Warner-Quinlan Co.
.0734
York—
$.05
Orleans.
Tulsa
-.0534
.06M-.0634
.05J4
.05 34
06
-.0634
Kerosene, 41-43 Water White, Tank Car, F.O.B. Refinery
New York
| North Texas.$.03 J4-.033* I New Orleans.
(Bayonne)...—$.04% I Los Angeles.. .03 34-.05
iTulsa
03
$.03%
-.0334
Fuel OH, F.O.B. Refinery or Terminal
N. Y. (Bayonne)
California 24 plus D
$1.15
Bunker C
Diesel 28-30
D...
New Orleans C
$1.00-1.25
Phlla., Bunker C
$
.95
1.05
1.65
Gas Oil, F.O.B. Refinery or Terminal
N.
Y.
(Bayonne)
27 plus
I Chicago,
$.04-.04% I
iTulsaM. G. I.$.02%-.02%
M. G. I.~.$.02%-.02%
|
Gasoline, Service Station, Tax Included
iNew York
$.167
Cincinnati
$.195
Minneapolis
$.201
zBrooklyn
.167
Cleveland
.195
New Orleans..
.23
Newark
.17
Denver
.21
Philadelphia..
,.16
Boston
.17
Detroit
.19
Pittsburgh
.195
.18
Buffalo
Chicago
175
-
.175
Jacksonville
.20
San
Houston
.18
St. Louis
l j-ios
Angeles
sNot Including 2% duty city sales tax.
.175
Francisco
.194
Volume
Financial
143
Daily Average Crude Oil Output Again Declines—Off
42,250 Barrels for Week Ending Oct. 3
Chronicle
2287
compares with 1,573,000 tons
week last year.
The
The American Petroleum Institute estimates that the daily
produced in the corresponding
Bureau reported that a
total of 33,240,000 tons of
average gross crude oil production for the week ended Oct. 3,
1936 was 2,987,800 barrels.
This was a decline of
soft coal and 3,223,000 tons of hard coal were mined
during
the month of August.
This compares with 26,164,000 tons
barrels from the output of
of bituminous coal and 2,591,000 tons of anthracite
produced
during August 1935.
During the calendar year to Sept. 26, 1936 a total of
297,125,000 tons of bituminous coal and 37,163,000 net tons
of Pennsylvania anthracite were produced.
This compares
42,250
the previous week. The current
figure remained above the 2,864,000 barrels calculated
by the United States Department of the Interior to be the
total of the restrictions imposed
by the various oil-producing
States during September.
Daily average production for the
four weeks ended Oct. 3, 1936, is estimated at
3,018,900
barrels.
The daily average output for the week ended
Oct. 5, 1935, totaled 2,719,600 barrels.
Further details,
as reported
by the Institute, follow:
week's
Imports of petroleum for domestic
United
with 260,864,000 tons of soft coal and 38,524,000 tons of
hard coal produced in the same period of 1935.
The Bureau's
statement follows:
ESTIMATED UNITED
COKE
3 totaled
I
1,413,000 barrels,
:
daily
a
STATES PRODUCTION OF COAL
and receipts in bond at principal
use
States ports for the week ended Oct.
average of 201,857 barrels, compared with a daily average of
146,286
barrels for the week ended Sept. 26 and
162,893 barrels daily for the four
weeks ended Oct. 3.
v..
:
■:
Calendar Year to Date
Week Ended
j
Sept. 26
1936
AND BEEHIVE
(IN NET TONS)
Sept. 19
Sept. 28
1936 d
1935
c
1936
1935
1929
e
Receipts of California oil
at Atlantic and Gulf Coast ports for the week
3 totaled 188,000 barrels, daily average of 26,857
barrels, com¬
ended Oct.
pared with
a
Bitum.coal:
Total for
daily average of 29,714 barrels for the week ended Sept. 26
daily for the four weeks ended Oct. 3.
period
and 23,679 barrels
Reports received from refining companies owning 89.8% of the 3,941,000
barrel estimated daily potential
refining capacity of the United States,
indictae that the industry as a whole
basis, 3,000,000
companies
pipe lines
of the
end
of the
week,
and that
all
bulk terminals, in transit and in
57,610,000 barrels of finished and
unfinished gasoline and 112,712,000 barrels of gas and fuel oil.
Cracked gasoline production by companies owning
95.9% of the potential
charging capacity of all cracking units indicates
whole,
on a Bureau of Mines
basis, produced
that
the
an average
Daily
industry
as
a
of 690,000 barrels
daily during the week.
_
8,683,000 8,513,000
.
AVERAGE CRUDE
OIL
period.
Daily
979,000
838,000
38,524,000
52,121,000
139,700
1,573,000
262,200
37,163,000
163,200
164,100
170,100
230,100
38,700
40,100
7,300
1,054,500
620,000
5,114,600
6; 450
.
aver.
6,683
1,217
4,565
2,684
22,141
Beehive coke:
Total for
period..
Daily
aver.
Includes lignite, coal made into coke, local sales and colliery fuel,
b Includes
Sullivan County, washery and dredge coal, local sales, colliery fuel and coal shipped
by truck from authorized operations,
c Subject to revision,
d Revised,
e Ad¬
a
justed to make comparable the number of working days in the three years,
in production in week ended Sept.
28, 1935 due to labor trouble.
PRODUCTION
1
B. of M.
Actual P rodvction
Dept. of
Week Ended
';
/
.
Weeks
State sources
rev
Oct. 5
3,
563,000
160,000
1936
571,000
164,200
475,450
143,450
61,900
157,800
16,300
61,100
27,400
60,450
59,050
Arkansas and Oklahoma
Colorado
60,150
East Central Texas
59,600
27,100
17U,o(JU
64,100
63,900
435,900
252,250
435,550
85,000
252,850
25,600
155,400
43,900
424,650
61,300
190,200
1,156,300
1,156,550
1,019,700
70,800
436,550
84,350
255,350
East Texas
V
Southwest Texas
Coastal Texas
60,900
27,300
X71,ooU
West Central Texas
82,850
Alaska
1,123,900
1,169,200
Louisiana
78,000
157,700
235,700
80,850
157,800
80,400
156,100
27,650
122,150
186,200
238,650
236,500
149,800
30,500
28,200
114,550
29,750
41,250
15,750
4,900
28,000
28,100
113,850
29,800
15,900
4,900
17,000
4,900
30,200
105,600
53,050
41,200
13,050
4,450
79,100
79,550
79,200
121
2,328,800
2,423,700
2,460,750
2,442,900
2,092,100
535,200
564,100
569,300
576,000
627,500
2,864,000
2,987,800
3,030,050
3,018,900
31,300
Wyoming
37,200
13,500
Montana
Colorado
4,500
71,600
New Mexico
v+K,
uu,
might have been surreptitiously
produced.
CRI^)^,^1JNS TO STILLS aND
GASOLINE
112,600
29,800
43,600
41,800
iuwuuo
nnjr
cotiiuatc
ui
any
UU
Crude Runs
Unfinished Gasoline
Stocks
of
Unfin'd
r inisneu
Poten¬
Daily
P.
tial
Aver¬
Oper¬
At Re¬
age
ated
fineries
Total
P.
C.
C.
in
&c.
Gas
and
Terms., Nap'lha
Distil.
Fuel
OH
East Coast..
612
612 100.0
513
83.8
Appalachian.
5,086
10,112
932
154
146
94.8
103
70.5
819
934
288
627
97.7
4,428
2,976
780
6,445
72.4
2,938
1,127
4,768
2,161
84
173
268
1,888
211
462
444
96.1
434
453
384
84.8
278
Inland Texas
330
160
48.5
117
73.1
Texas Gulf..
732
710
97.0
622
87.6
169
163
443
12,463
3,541
1,718
8,646
2,369
96.4
115
893
No. La.-Ark.
451
80
72
90.0
43
59.7
156
71
Rocky Mtn.
California
50
97
60
61.9
45
75.0
670
89
153
109
789
92.6
515
65.3
8,275
2,305
1,156
3,540
89.8
2,785
70.6
'36
Sept.26 '36
78.7
215
29,160
2,061
19,362
401
14
2,427
Indiana
298
279
265
Iowa
49
65
x
'
905
159
176
170
Kansas and Missouri
130
108
131
464
420
377
Kentucky—Eastern
758
751
731
3,087
2,990
2,473
570
144
New
145
565
522
33
30
37
126
116
...
10
11
19
13
12
8
69
65
66
223
204
205
27
Montana
129
i...
Maryland
25
27
111
122
106
*
Mexico
113
1
66
25
bituminous
19
33
68
62
416
Ohio
398
442
1,666
1,982
1,819
8,901
1,534
8,939
1,311
6,776
95
370
364
340
2,235
Tennessee
103
93
Texas
15
15
17
57
54
Utah
79
71
73
170
108
141
245
234
214
963
935
778
Virginia,
3,941
3,000
2,990
31,221
30,911
20,001
19,216
65
36
34
28
114
118
91
1,916
1,803
1,642
7,552
563
512
512
2,050
7,358
2,189
6,140
1,527
125
393
356
324
2
5
3
32,054
26,164
3,666
2,591
35,720
28,755
Washington.
West Virginia—Southern
a
Northern
b
100
127
Other Western States
d
c
Total bituminous coal
d
8,513
d
7,726
838
718
1,000
33,240
3,223
9,351
8,533
8,726
36,463
7,815
1
Includes mines
the B.
the
O.
&
on the N. & W.; C. & O.; Virginian; K. & M.; C. & G.; and on
in Kanawha, Mason and Clay counties,
b Rest of State, including
District and Grant, Mineral and Tucker counties, c Includes Ari¬
Panhandle
d Less than1,000 tons, p Preliminary.
Preliminary Estimates of September Coal Production
Show Gain Over Preceding Month
According to preliminary estimates made by the United
Mines, bituminous coal output during thO
States Bureau of
month
tons.
of September, 1936, amounted to
This compares with 33,240,000 tons
36,772,000
net
produced in the
preceding month, and 25,038,000 net tons during September,
1935.
Anthracite production during September amounted
to 3,818,000 net tons, an increase from the 3,223,000 tons
produced in August, but a decline from the 4,172,000 tons
mined in September, 1935.
The Bureau's statement follows:
Average per
Calendar
Year
Total for
Month
No. of
Working
Working
Day
September
{Net Tons)
Days
{Net Tons)
{Net Tons)
36,772,000
25
1,471,000
302,163,000
3,818,000
25
152,700
37,962,000
167,500
26
6,442
1,079,500
33,240,000
26
1,278,000
3,223,000
26
124,000
127,800
26
4,915
25,038,000
24
1,043,000
262,764,000
4,172,000
24
173,800
56,300
6,010 110,402
378
2,310
639
25
2,252
38,944,000
624,500
to End
of
September, 1936 {Prelim.)—
3,941
3,941
Bituminous coal
3,941
6,388 112,712
p
6,345
112,504
*35
Anthracite
—
—
Beehive coke
August, 1936 (Revised)—
U.S.B.of M
Oct. 3,
379
5
3,103
1,008
359
xEst.tot.U.S
Oct. 3,
293
5
3,459
1,139
73,462
Reported
400
1
772
852
Estd.unrepd.
177
799
zona, California, Idaho, Nevada and Oregon,
Stocks of Finished and
to Stills
District
La. Gulf
690
155
1
a
STOCKS OF FINISHED AND UNFINISHED
Daily Refining
Capacity
Mo
897
255
WlilUU
AND GAS AND FUEL OIL. WEEK ENDED
OCT. 3, 1936
Ind., Ill.,Ky.
Okla., Kan.,
916
90
722
Pennsylvania anthracite
V
Rate
9
195
1
-
Grand total
.
9
806
Wyoming
California...
,
1935
7
2,719,600
107,100
Michigan
Total United States
Aug.,
Illinois
56,150
Eastern
Total East of California-
64
Georgia and North Carolina
Pennsylvania
Arkansas
209
1936
2
87
North and South Dakota
Total Louisiana
2
July,
1936
217
Michigan,
Coastal Louisiana
Aug.,
1935
1936 p
2
Western
Total Texas
from districtiand
Monthly Production
Sept. 19 Sept. 12 Sept. 21
Alabama
Panhandle Texas
North Texas
loadings and river shipments
operators.)
Week Ended
1936
580,550
170,900
547,500
Kansas
f Drop
COAL
State
1936
1936 p
Oklahoma...
North
railroad car
on
of final annual returns from the
or
OF
(IN THOUSANDS OF NET TONS)
sion on receipt of monthly tonnage reports
Ended
Oct.
Sept. 26,
subject to
are
PRODUCTION
MONTHLY
Week
Ended
Oct. 5,
1936
..
Average
4
Int. Cal¬
{Sept.)
STATES
AND
(The weekly estimates are based
and
culations
WEEKLY
BY
(Figures in Barrels)
1,695,000 d297,125,000 260,864,000 385,317,000
1,306,000
283,000
1,147,000
1,685,000
Total for
ESTIMATED
DAILY
f
1,447,000 1,419,000
aver.
Pa. anthra.:b
Bureau of Mines
barrels of crude oil daily during the week,
had in storage at refineries,
as
to stills, on a
ran
a
Bituminous coal
z2,746
Estimated Bureau of Mines basis,
z
27,177
18,326
5,682 110,123
October, 1935 daily average.
Anthracite
Beehive coke...
September, 1935—
Bituminous coal
Anthracite
Production of Coal Higher in Week Ended
Sept. 26
The United States Bureau of Mines in its
weekly coal
repoTt showed that production of soft coal increased slightly
in the week ended
Sept. 26.
The total output is estimated at
8,683,000 net tons, a gain of 170,000 tons over the pre¬
ceding week.
Production during the week in 1935 corre¬
sponding with that of Sept. 26 amounted to 1,695,000 tons.
Anthracite production in Pennsylvania during the week
ended Sept. 26 is estimated at 979,000 net tons.
This is
an
increase of 141,000 tons
over
the preceding week, and
Beehive coke
Note—All current estimates will later be adjusted to agree with the results of the
complete canvass of production made at the end of the
Slab
year.
Zinc
Output During September Again
Shipments Continue Upward Trend
According
Institute
on
to
figures
Oct.
6,
released
42,283
short
by
the
tons
Lower—
American
of slab
zinc
Zinc
were
produced during the month of September, 1936.
This com¬
pares with 43,614 tons produced during the month of August,
Financial
2288
1936, and with 36,221 tons in the corresponding month of
Shipments rose from 46,085 tons in August to 51,847
Chronicle
■f
in
tons
This latter figure also compares with
September.
Institute's statement follows:
SLAB
ZINC
STATISTICS
Lead
■
■
1935.
42,351 tons shipped during September, 1935. Inventories
on Sept. 30 stood at 76,630 short tons, comparing with 86,194
tons on Aug. 31, and 106,316 tons on Sept. 30, 1935.
The
Oct.
.
totaled about 8,250 tons, making the
Sales of lead during the last week
last
1936
10,
Pro¬
days the 15th consecutive week of above-average buying.
seven
September shipments will mount to somewhere be¬
ducers estimate that
tween 50,000 and 53,000 tons.
Consumers are said to be increasing their
working stocks, largely because of the broader market for the metal.
The market
quite firm, but quotations continued at 4.60c., New
was
York, the contract settling basis of the American Smelting & Refining Co.,
Sales of St. Joseph Lead were restricted to regu¬
and at 4.45c., St. Louis.
(ALL GRADES)—1929-1936
lar customers in "reasonable amounts."
(Tons of 2,000 Pounds)
The same producer
seller
was a
of its own brands in the East at a premium.
Retorts
(a)
Produced
Stock at
During
Shipped
During
Period
Period
Total for year
631,601
52,633
602,601
50,217
436,275
36,356
143,618
300,738
25,062
314,514
129,842
213,531
17,794
218,517
18,210
Shipped Operating
End of
for
Period
Export
75,430
Monthly aver
End of
Period
Average
Unfilled
Scrap has been coming in slowly because of
Retorts
Orders
and October shipment metal.
During
End
bullish views of holders, and this has
of
Period
Period
68,491
18,585
back
to fall
forced consumers of secondary lead
virgin metal to a greater extent.
on
Zinc
1929
57,999
6,352
Buying of zinc
529
moderate scale last week, but shipments, which
was on a
totaled 7,286 tons, indicated that consumption
1930
Total for year
504,463
Monthly aver
42,039
196
31,240
47,769
26,651
19,875
23,099
18,273
16
Monthly aver
tinues at
3
26,210
1932
Total for year
Monthly aver
170
124,856
21,023
18,560
8,478
27,190
23,653
15,978
14
324,705
27,059
Monthly aver
105,560
344,001
28,667
20
352,663
29,389
35,455
34,877
41,205
38,455
35,627
29,353
July
35,135
33.468
36,735
35,329
34,572
34,637
35,120
32,306
117,685
116,276
111,806
108,680
107,625
112,909
115,723
August
35,547
38,824
112,446
aver
Total shipments made a new
amounting to 51,847 tons.
Stocks of high-grade
(covering all grades) of 9,564 tons.
high for the movement,
chiefly prime Western, 3,568
tons.
148
366,933
30,578
12
ber, in short tons, follows:
March
April
May
June
0
25,993
25,816
0/
32,658
33,210
35,196
33,719
32,389
33,836
33,884
32,230
33,157
32,535
32,450
30,387
31,230
31,244
22,435
35,878
26,967
36,939
0/
32,942
30,482
39,238
33
0
3
23
0
20,000
Aug.
88,665
43,614
Production, daily rate..
1,407
Sept.
Shipments
46,085
51,847
Stock at end
Sept.
86,194
42,283
1,409
Aug.
Stock at beginning.....
Production
86,194
65,173
76,630
54,064
Unfilled orders
Tin
Buying
take
to
was
on
Consumers in many instances refused
reduced scale.
a
stand because of continued uncertainty over
a
42,351
106,316
°i
October
36,716
47.063
95,969
0,
November
37.469
48,172
85,266
0,
December
40,463
41,971
83,758
01
Total for year.
431,412
35,951
465,659
38,805
41,917
Monthly aver.
46,468
32,445
*30,529
32,934
*31,881
33,868
*33,080
,47,080
35,126
51,183
*33,896
38,205
*34,291
38,004
*33,726
37,922
*33,849
41,400
*36,657
36,221
34,870
*30,988
34,777
*31,324
36,650
*33,462
38,329
*34,298
September
35,872
*34,358
34,334
,47.367
ago
declined
Chinese tin,
36,228
February.
5
75,517
42,483
38,159
79,841
April........
43,252
42,311
80,782
May
44,905
43,977
81,710
June..
44,947
41,654
85,003
July....
45,553
41,891
88,665
August
43,614
September.
46,085
42,283
41,048
The "Iron Age" of Oct. 8 reported that
,56,829
36,189
141,638
135,968
*35,749
37,888
*36,296
38,176
127,090
production of coke
2,730,293 gross tons, compares
with 2,711,721 tons in August.
The daily rate last month
showed a gain of 4.2% over that of August, or from 87,475
tons to 91,101 tons.
The "Age" further reported:
pig iron
128,370
*36,972
38,135
*36,734
38,358
*37,006
38,326
*36,897
On Oct.
88,075
154,064
a
Export shipments are in-
Corp.;
in
two
furnaces
making iron, operating at
Co.;
One
American
Steel
Standish,
only
Furnace Co.,
were
The tone here continues firm.
easier.
above the average in volume.
Lead
The zinc statistics
for September were better than expected, shipments exceed¬
ing 50,000 tons for the first time since August, 1929.
Evi¬
dence is now quite strong that all of the major metals im¬
proved statistically during the last month.
Tin suffered a
setback in demand, partly attributed to the action of
sterling.
Platinum declined to $59 per ounce, with the
market still
weak.
The publication further reported:
Chateaugay
blown
one Lackawanna;
one
Campbell, Youngstown Sheet &
Wire Co.;
&
one
Ore
out
Iron
&
the
were
of
copper
in the
MONTHS SINCE JAN.
1931
September and that
consumer
consumption, and
a
were
smaller
Devaluation
of
abroad.
situation
With the improvement in domestic
Buying
'in
The quotation remained at-9.75c. Valley.
currencies
has
further
loosened
the
price
April
May
June
First six months.
July
August
...
September. ."
October
November
December
12
mos.
of copper
ing September, it is pointed out that 3,454 tons
Sales for the
was
sold for September de¬
336 tons for October, 3,057 tons for November,
and 4,405 tons for January and beyond.
Exports of refined copper by countries of
To—
964
Denmark......
...
France
Germany....
as
July
Belgium....
......
Great Britain
Italy
Netherlands
•Poland and Danzig
1935
47,656
57,448
57,098
55,449
65,713
51,750
1936
28,412
24,536
54,134
54,138
74,331
18,461
17,115
19,753
20,800
21,042
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
87,475
91,010
average.
PRODUCTION
OF
23,733
36,199
43,592
57,556
50,069
COKE
PIG
IRON
AND
Pig Iron
OF
1
65,351
62,886
65,816
80,126
85,432
86,208
FERROMANGANESE
itl
Ferromanganese
x
1935
1936
1936
y
1935
April
May
June
10,048
12,288
17,762
18,302
17,541
12,961
9,799,000
128,058
88,902
1,520,263
1,761,286
1,776,476
20,205
13,175
12,735
15,983
19,007
18,245
17,126
21,007,802
;
24,766
24,988
22,725
19,667
18,363
15,549
1,978,411
2,065,913
2,106,453
...
March
1,477,336
1,608,552
1,770,028
1,663,475
1,727,095
1,552,614
2,594,268
2.711,721
2,730,393
February.:
2,025,885
1,823,706
2,040,311
2,403,683
2,648,401
2,586,240
13,528,226
January.
112
185,173
2,273
2,249
2,719
2,902
365
To—
China and Hongkong
2,210 Japan
4,654 British India
5,001 Other countries
295
588
458
October
November
December
July and
x
was
1,604 Sweden..
168
August
September
Year.
destination""during
follows:
Aug.
July
29,517 tons for
December
August, in short tons, were
1934
39,201
45,131
52,243
57,561
65,900
64,338
during September totaled 40,769 tons, which
with 25,253 tons in August and 175,484 tons in July.
first nine months of this year totaled about 580,000 tons, against 438,000
tons in the same period last year.
In connection with business booked dur¬
livery,
1, 1931—GROSS TONS
1933
1932
61,356
Half year
Domestic sales
La vino
47,201
41,308
38,964
37,848
36,782
31,625
55,299
March
the foreign market, however, continues to
be good.
compares
American
the
60,950
65,556
67,317
64,325
54,621
February
requirements for the first quarter of next
year.
Continental
of
18,348
19,798
17,484
20,787
28,621
42,166
during the last
stronger statistical position, the trade expects higher
prices before the end of the
unit
(GROSS TONS)
domestic market
will soon result in heavy buying.
Hamilton,
31,380
33,251
31,201
28,430
25,276
20,935
January
week, amounting to 4,926 tons, compared with 7,289 in the previous week.
Producers generally anticipate bullish copper statistics for the month of
year
Co.;
Oriskany
DAILY AVERAGE PRODUCTION OF COKE PIG IRON IN THE UNITED
Copper
Sales
two
and the Rackdale furnace of the Tennessee Products Corp.
-"Metal and Mineral Markets" in its issue of Oct. 8 stated
were
in
Co.
furnaces
STATES BY
despite the unsettlement in the European markets re¬
sulting from the readjustments now taking place in curren¬
cies, the situation here in copper, lead, and zinc remained
quite encouraging to producers.
In terms of dollars, prices
independent
blew
producers
Edgar Thomson, Carnegie-Illinois Steel
—Lead in Demand Here
that
of
Madeline, Inland Ste61 Co.; Sharpsville, Pittsburgh Coke &
one
Mill
Rolling
merchant
and
Bethlehem Steel Co4;
Point,
Co.;
operation,
a'rate
1, producing, at the rate
Sept.
on
off blast.
included:
Donora,
one
Tube
The
Decline in Currencies Unsettles Prices of Metals Abroad
at
The Steel Corp. blew in two furnaces,
daily.
five
Furnaces blown in
Sparrows
adjustments reported at the
155
were
put
and took
Iron
all corrections and
there
1
tons
producers
furnaces
^65,173
September,
in
94,140 tons, compared with 148 furnaces
of
,44,458
year-end.
abroad
1, 45.000c.; Oct. 2,
nominally as follows: Oct.
Pig Iron Daily Output Up 4.2% in September
^42,219
*34,516
37,778
406,72
*36,843
76,630
Equivalent retorts computed on 24-hour basis,
eluded in total shipments.
Note—These statistics include
the end of the
totaled 16,896
44.850c.; Oct. 3, 44.775c.; Oct. 5, 45.050c.; Oct. 6, 44.625c.; Oct.7, 44.500c.
*32,456
*36,919
40,700
*36,934
41,308
*37,350
41,308
*37,418
86,194
51,847
at
carry-overs,
32,341
79,207
March
was
Arnhem
month previous and 14,564 tons a year ago.
a
59
......
39,918
99%,
Stocks
September.
and
Eastern
the
long tons, against 17,642 tons
1936
January..
moderately during
including
month,
,59,456
The world's visible supply of
the price declined about lc. per pound.
tin
the status of the
Compared with a week
control plan and the downward trend of sterling.
sales
Septem¬
the statistics covering all grades for August and
A summary of
28/887
1935
January
February
*
reduction in
Institute, were highly favorable, showing a
declined 5,996 tons, and the common grades,
1934
Total for year
the zinc industry, announced yesterday by the
The September statistics of
,
239
by the low quotations of zinc abroad.
4.85c., St. Louis.
American Zinc
stocks
1933
Total for year
the do¬
The price
good rate, the industry realizes that any advance in
a
mestic price is nullified
remains at
is being maintained at satis¬
Though the statistics are excellent, and consumption con¬
factory levels.
1931
Total for year
Monthly
continued demand for prompt
A feature in the week's business was the
Totals.
July
1,447
These totals do not include charcoal pig iron.
25,834
gross tons,
y
20,658
15,919
The 1934 production of this iron
Included in pig iron figures.
Aug.
2,495
84
731
4,857
Nine
Months'
Steel
3,037
140
"453
18/112
21,694
Output
Year
Passes
Total
for
Whole
1935
Tonnage of steel ingots produced in the first nine months
production in the full year 1935 and
was nearly 40% above the output in the first three
quarters
of 1936 exceeded total
last
of
Financial
143
Volumi
according to figures released Oct. 8 by the
year,
American Iron and Steel Institute.
A total of 33,605,304 gross tons
of
open
hearth and Besse¬
ingots was produced in the first nine months of this year,
which compares with 24,051,412 gross tons in the same
mer
period of last year and with 33,417,985 for the whole of 1935.
Ingot production in September totaled 4,161,108 gross
tons, slightly below August, when 4,195,130 gross tons were
produced but 47% above the production of 2,825,004 gross
tons in
September a year ago.
Operations in the steel industry averaged 72.92% of
capacity in September and 71.73% throughout the third
Over the first nine months of the year operations
quarter.
averaged 65.44% of capacity.
By comparison, ingot operations in September 1935 were
at 51.04% of capacity, while in the third quarter of last
year operations averaged 46.38%.
The industry operated
at an average rate of 46.63% of capacity during the first
nine months of last year.
MONTHLY
'J|
hearth and 100%
(Reported by companies which In 1935 made 98.03% of the open
of the Bessemer Ingot Production)
that direction.
Number
Daily
of
Working
.
*Per Cent of
Tons
Capacity
Production
Days
(Gross Tons)
Expected rail buying of several
by the Louisville & Nashville,
during the remainder of the year.
which
placed 27,000 tons plus accessories with
Santa
Fe inquiry for
Western
The
and other
the Alabama mill.
90,000 tons may be acted upon shortly,
roads that are to buy heavily are
the Chicago & North Western and the
Pacific.
Railroads have received intimations that an
advance to $40 for rails will
into effect Jan. 1.
go
the New York Central
The
the outstanding inquiry is that of
In equipment,
for 50 locomotives—25 large passenger type
and 25 switching engines.
ordered 500 freight cars and the Wabash will
The Cambria & Indiana has issued an inquiry
Chicago & Eastern Illinois has
build 400 in its own shops.
for 300
Meanwhile, many railroads are using all pressure for
hopper cars.
With carloadings over 800,000, a short¬
material to repair bad order cars.
and shortages of other types are
of coal cars has already developed
age
expected.
A gas-carrying
Milwaukee.
Smith Corp.,
O.
pipe, has been awarded to the
of 14-in.
with prices tending toward weak¬
booked fairly large ton¬
Scrap markets are in a waiting position,
in
ness
some
Pig iron producers have
districts.
The continued scarcity of
for fourth quarter.
nages
advance in pig
or two
Rochester, N. Y.,
line from northwestern Pennsylvania to
miles, requiring 9,000 tons
92
One
Calculated
Production
Gross
be one of the major factors in increasing busi¬
Railroad buying is likely to
ness
hundred thousand tons has been started off
coke may force an
iron prices before the end of the quarter.
wire mills have
announced quantity extras on wire and mer¬
On wire the base quantity is 40,000 to
chant products for fourth quarter.
Calculated Monthly
1936
thatJgovernment aid has been expended mostly in
lag notwithstanding
A.
PRODUCTION OF OPEN HEARTH AND BESSEMER STEEL
INGOTS—JANUARY, 1935, TO SEPTEMBER, 1936
2289
Chronicle
quantities, up to $3 a ton for more
lb. for lots under
products extras apply on quantities less than 40,000
1,000 lb., deductions applying for larger
than 100 tons, and extras for
On merchant
100 lb.
small lots up to $3 per 100
lb.
54.03
112,813
118,577
27
February
3,045,946
2,964,418
51.40
March
3,342,619
58.58
128,562
26
9,352,983
54.64
119,910
78
January...
THE "IRON
25
Finished Steel
Oct.
First quarter
April
3,942,254
151,625
155,625
153,263
69.09
4,046,253
3,984,845
70.91
June
69.83
26
69.94
153,504
21,326,335
62.29
136,707
'
156
2.130c.
2.199c.
2.015c.
1.977c.
2.037C.
2.273c.
2.317c.
2.286c.
1933
1932
August..
73.52
4,195,130
4,161,108
...........
September
1931
26
1930
26
161,351
160,043
72.92
1929
1928
71.73
12,278,969
Third quarter
26
150.874
68.74
2.402c.
1927
78
157,423
Mar. 10
2.084c.
Sept: 29
Oct.
1
Apr. 24
Oct.
3
Oct.
4
Jan. 13
Jan.
7
Apr.
2
Dec. 11
Jan.
4
..2.197c.
1935
1934
3.922,731
Low
High
26
78
July
85% ot the United States output.
26
11,973,352
First six months
rolled strips.
2.130c.
One year ago
steel bars, beams, tank plates,
on
wire, rails, black pipe, Bheets and hot
These products represent
...2.197c.
2.159c.
1936..
Second quarter
Based
6, 1936, 2.197c. A Lb.
One week ago
One month ago
May..
AGE" COMPOSITE PRICES
2.124c.
Jan.
8
2.008c.
Jan.
2
1.867c.
Apr. 18
1.926c.
Feb.
2
1.945C.
Dec. 29
2.018c.
Dec.
2.273c.
Oct.
29
2.217c.
July
17
2.212c.
Nov.
9
1
Pig Iron
33,605,304
65.44
143,612
234
January
2,870,161
48.02
106,302
27
One month
February
2,774,271
2,865,292
52.22
115,595
24
One year
49.78
110,204
26
8,509,724
49.92
110,516
77
101,562
26
Nine months
Based on average of basic Iron at Valley
$18.73 a Gross Ton
furnace and foundry Irons at Chicago,
$18.73
Philadelphia,
Buffalo,
Valley
and
ago.18.73
Birmingham.
'
ago.
17.84
Oct. 6, 1-936,
1935
One week ago
1
March
First quarter
45.88
April
2,640,602
May
2,633,661
44.06
97,543
2,258,664
40.81
90,347
1934
25
1933
*
7,532,927
43.62
96,576
46.75
103,501
2,267,827
39.40
2,915,930
48.78
September
2,825,004-
51.04
113,000
1930
26
August
87,224
107,997
1931
155
July
1932
78
16,042,651
25
Second quarter
1929
1928
First six months
1927...
Oct. 6, 1936,
$16.75,
a
46.38
102,676
78
46.63
103,225
52.58
116,398
27
1935
One year ago
November
3,150,409
54.73
121,170
26
December
3,073,405
55.53
122,936
25
1933
54.24
1931
78
120,084
1930
48.54
33,417,985
Total
1929
311
107,453
1928
*
Calculated for each year on annual capacities, as of Dec. 31 of the
preceding year
4is 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.
Backlogs of Steel Orders Are Largest Since 1929
Age" in its issue of Oct. 8 states that steel com¬
panies enter the final quarter of the year with the largest
unfilled orders since 1929, and in one respect the situation
is more favorable than in that boom period because present
commitments do not include the speculative purchases that
then existed.
Heavy ordering in the past week has brought
another increase in steel ingot output to 75M%, a new top
for the year.
The "Age" further stated:
ingot
production in
September
declined slightly from August,
the total for nine months of 33,605,304 gross tons indicates a
of fully
46,000,000 tons, which would be about 85% of 1929.
1936 output
Pig iron out¬
put figures, gathered by the "Iron Age,v show a September total of 2,730,293 gross tons, or 91,010 tons a day, a gain of 4.2% over the August daily
Seven
rate.
on
Oct.
additional furnaces
went
into
blast, making
a
total of 155
1927
While the lighter steel products are in greatest demand, the heavy products
As evidence, the Pittsburgh district, where
heavy steels predominate, is now operating at 76%, having for the first time
since 1930 passed the average for the country as a whole.
to
point where some users may not be able
a
obtain all they will want during the fourth quarter.
virtually out of the market
sheets
A
mills
on
A few mills
are
cold-rolled and light hot-rolled annealed
for the remainder of the year.
90%, further
expansion
being prevented
by lack of
raw
on
No.
steel.
year
is
The tin can, having won markets in beer and wine, is preparing
to invade the soft drink field.
its requirements
will increase.
toward higher production of
new
forgotten the drought and is proceeding toward increased output.
road buying of equipment and track supplies is on the upgrade.
models
The farm implement industry has all but
major consumers of steel, only building construction shows
Dec.
18.21
Dec.
17
17.04
July
24
17.54
Nov.
6
16
1
1
heavy
steel
melting
Low
June
9
Apr. 23
Mar. 13
9.50
Sept. 25
3
Iron
and
6.75
Jan.
Jan.
12
6.43
July
Jan.
6
8.50
Deo. 29
Feb.
18
11.25
Dec.
9
Jan.
29
14.08
Dec.
3
16.50
15.25
Dec. 31
13.08
July
2
11
13.08
Nov. 22
Oct.
5
Steel
8
Aug.
Jan.
Institute
on
5
an¬
beginning Oct. 5, compared with 75.4% one
68.2% one month ago, and 49.7% one year
ago.
This represents a decrease of 0.1 point, or 0.13%
from the estimate for the week of Sept. 28. Weekly indicated
rates of steel operations since Sept. 2, 1935, follow:
week
ago,
Oct.
Oct.
16.....54.6% Mar. 23
45.8%
49.7%
48.3%
48.9%
50.8%
Dec.
49.7%
Jan.
14.....50.4%
51.8%
28
51.9%
Jan.
20
Jan.
27
Feb.
3
Feb.
10
52.0% May 25
Feb.
17
51.7% June
1.
Feb.
24
52.9% June
53.7%
62.0%
64.5%
67.9%
70.4%
71.2%
49.4% May 11
50.0% May 18
8
7
Oct.
Oct.
1936—
1936—
1935—
1935—
Sept. 2r.
Sept. 9
Sept. 16
Sept. 23
Sept. 30
21
5
50.9%
Nov. 11. ....52.6%
Nov.
Dec.
53.7%
55.4%
Dec.
9
49.5% Mar. 30
6
46.7% Apr.
Dec. 23
Dec.
30
1936—
Jan.
Apr.
6
13
49.2% Apr. 20
49.4% Apr. 27
4
49.9% May
13
Mar.
2
9
69.1%
69.4%
67.9%
68.2%
69.5%
70.0%
70.2%
74.0%
55.8% June 22
Mar. 16
70.1%
53.5% June 15
Mar.
56.4%
55.7%
2
60.0% June 30
"Steel" of Cleveland in its summary
markets on Oct. 5 stated:
With
aggregate demand well sustained,
July
13
67.2%
69.0%
July
20
70.9%
July
6
71.5%
71.4%
Aug. 10.^—70.0%
Aug. 17
72.2%
Aug. 24
72.5%
Aug. 31
71.5%
Sept. 7
68.2%
Sept.<14
72.5%
Sept. 21
74.4%
Sept. 28
75.4%
Oct.
5.,,—75.3%
July
27
Aug.
3
of the iron and steel
automobile production on the
upswing again and orders for finished material being
steelworks operations last week increased
1 Vi
booked at the new
points to 74H %,
highest since May, 1930.
September output of steel ingots placed 1936 production ahead of that
of steel ingots is
tons
moves
15.90
10.33
for the rest of the year.
No change in the tin plate price for next
industry
Dec. 15
$12.67
made for January,
As the automobile
14.79
10
Dec.
for 1930 and unless unforeseen difficulties arise the
expected.
Dec.
Sept. 22
Tin plate deliveries are six weeks or longer, with some reservations being
1937.
3
13.56
for the week
prices,
contra-seasonal improvement in tin plate keeps the operation of tin
at
American
The
Nov. 25
The sheet situation has reached
-
-
Nov. 18
1.
have made substantial gains.
Jan.
nounced that telegraph reports which it had received indi¬
cated that the operating rate of steel companies having 98%
of the steel capacity of the industry will be 75.3% of capacity
The "Iron
While
27
13.56
17.58
1932
9,366,573
Jan.
High
1934
Fourth quarter
May 14
16.90
and Chicago.
$16.75
13.42
13.00
12.25
8.50
11.33
15.00
1936
October
Aug. 11
17.83
quotations at Pittsburgh, Philadelphia
16 25
12.67
233
3,142,759
Based
Gross Ton
$16 .75
One month ago
8,008,761
/
May
Dec.
Jan.
Jan.
Jan.
May
Nov.
Jan.
$18.73
7
5
1
5
5
6
7
14
27
4
27
24,051,412
Nine months
Nov.
Steel Scrap
One week ago
Third quarter
Jan.
18.84
17.90
16.90
14.81
15.90
18.21
18.71
18.59
19.71
1935
27
June
LOW
High
$18.84
1936.....:...
lead will be maintained
With September estimated, nine-months' output
33,395,196
gross tons,
38% greater than the 24,051,412
produced in the first ninb months of 1935.
Comparisons
include:
for
the
nine-month
Automobiles—nine-months'
period,
with
assemblies
September
3,300,000,
estimated,
compared to
Rail¬
2,875,304 in the 1935 period; rail awards—83% ahead of last year, totaling
Of the
554,700 tons compared to 302,006 in 1935; Lake Superior iron ore—ship¬
afpronounced
ments
48% ahead of last
year
with
September's 7,000,000 tons bringing
Financial
2290
the total to 33,281,517,
last year; freight car
compared to 22,204,213 tons in the nine months
awards—40,933 at the end of the third quarter, com¬
pared to 7,908 last year,
a
gain of 400%; shape awards—about 900,000 tons,
Pig iron output in September, 2,729,705 gross tons, represented a gain of
the 2,711,726 tons produced in August.
over
21,617,224 tons, is
The nine months' total,
increase of 6,736,909 tons or 45.2% over the same
an
September
Average daily pig iron production in
period last year.
have
become
and
more
more
problem recently for sheet
a
producers with their unusually heavy backlogs.
Bar mills, also with orders
deliveries vary, strip being available in two or three weeks.
Cold-finished
The heavy products have been quieter
they were earlier in the year.
In tin plate, where
no summer
at full
operations have been close to capacity all year with
slump, virtually all the cold-reduced and hot mills are operating
capacity and beginning to prepare for the rolling of 1937 plate.
Reflecting the price advances which went into effect Oct.
1,
"Steel's"
composite of finished steel quotations is up 90 cents to $53.90, about even
with August, 1935.
cents
to
$3
a
Among the Oct. 1 advances, increases ranging from 50
ton went into effect on various wire products.
Lake Superior charcoal pig iron
and
All grades of
have been advanced 50 cents
a gross
by-product foundry coke prices 50 cents a ton along the eastern
board.
Rail steel bars to the merchant trade are up $2 a ton.
ton
sea¬
"Steel's"
the
third
week,
Operating rates
1
Shape awards
7,000 tons to 19,345, while reinforcing steel fell off
were up
8,000 tons to 3,258.
In
the Chicago
backlogs of the
needs
year to
well
in
date, with some foundries apparently
Steel
753^% of capacity, according to the "Wall Street
Journal"
of
This
7.
Oct.
IT.
Two
S. Steel is estimated at 70%%, unchanged from
weeks
ago
credited with 793^ %, against
ago.
with
77% % in the week before and 76% two
1
Some railroad
Federal
the
with
shops
car
busy trying to
are
Reserve
17%
18
+
32
+
1930
29% +
%
56%— 3%
84
1928
87+2
1927
66
7 total Reserve bank credit amounted to $2,472,000,000, a de¬
of $1,000,000 for the
week.
Increases of $39,000,000 in money in
circulation, $122,000,000 in member bank reserve balances, and $38,000,000
deposits and other Federal Reserve accounts, and
$2,000,000 in Treasury currency, were offset by
an
a
decrease
increase of $126,-
000,000 in monetary gold stock and a decrease of $75,000,000 in Treasury
deposits
with
Federal
Oct.
were
estimated to be approximately $1,950,000,000 in
on
7
Reserve
banks.
Member
bank
reserve
of legal requirements.
+1
63
+
Oct. 9
1936
—
1
1
Chicago-
City—
Sept. 30
Oct.
1935
7
Sept. 30
Oct.
9
1936
1936
1935
S
S
S
$
136
14
14
131
Accepts, and com'l paper bought
Loans on real estate
Loans to banks
$"
116
130
123
15
15
25
—82
49
5
5
7
379
235
947
',$
120
.....
—
20
16
1...
1,386
1,372
1,217
376
Govt, direct obligations..
3,794
3,784
3,280
1,114
1,113
460
467
367
92
92
94
Other securities
1,098
1,129
1,069
287
294
272
Reserve with F. R. Bank
2,411
2,354
2,251
612
634
522
Other loans..
U. S.
Obligations fully guaranteed by
United States Government
Cash in vault
53
52
57
34
33
36
Balances with domestic banks..
72
76
85
198
255
194
499
68
70
79
1,670
1,347
443
446
404
499
475
Other assets—net
Liabilities
Demand
6,266
605
193
6,320
598
193
5,571
624
299
1,568
101
101
65
2,445
2,431
2,145
622
614
528
433
deposits—adjusted
Time deposits
United States Govt, deposits
448
322
5
5
3
Inter-bank deposits:
Domestic banks
Relatively small changes were reported in the System's holdings of bills
1
86
New York
'
+
—3 %
80
%
68% +
1936
Assets—
%
—
28
89+3
Banks
daily average volume of Federal Reserve bank credit
outstanding during the week ended Oct. 7, as reported by
the Federal Reserve banks, was $2,480,000,000, an increase
of $5,000,000 compared with the preceding week and un¬
changed from the corresponding week in 1935.
After noting
these facts, the Board of Governors of the Federal Reserve
System proceeds as follows:
17
%
1
53
1
+
%
XA
+
26% +
61%— 3%
89
—
^
1
Oct. 7
excess
42+3
1932
—
79%+ 2
37
1
1931
some
Independents
62
40+2
The
and
preceding;
70%
41%+ 1%
21%%
1933
add 50 to 60 pounds of steel to each car in
yet to make its appearance.
balances
together with the
U. S. Steel
Industry
New ribbed members
With the rolling of old orders near an end, new business for rail mills has
cash
production
table gives a comparison of the percentage of
the nearest corresponding week of previous years,
1934
pounds.
in non-member
weeks
'
.
The following
the preceding week.
Leading independents are
the corporation was at 70%.
More
Replacement of soft tops with steel will result in 50 to 60 more
On Oct.
The "Journal"
further reports:
1929
for doors and side panels will
of
with 743^% in the
compares
previous week and 73^% two weeks ago.
75% +
52%+
24%
week increased 7,120 units to 22,800.
being used in the 1937 models than ever before.
Week
is placed
ingot production for the week ended Oct. 5
at about
1935.
Automobile production last
The
backlogs is believed
three months.
improved consumption in sight for the ensuing
"Steel's" scrap composite remains at $16.54, yet
grades of remelting material.
crease
there is some talk of a possible
Although
advance.
price advance late this year, the principal reason for the
to be the
heaviest
anticipating
district pig iron sellers have accumulated the
Shipping restrictions have contributed to the weakness of some
lines.
% to 49, and
No changes were reported from the other districts.
^ to 82.
1936.
steel is
Pittsburgh, where the increase
in four districts:
were up
point to 75%; Chicago 1 to 74; eastern Pennsylvania
demand is fairly strong in most districts and supplies have been coming out
freely.
coal traffic
top cars available for use this winter when
open
heavy.
approximate changes, in points, from the week immediately
composite of iron and steel prices is now $34.62, up 43 cents.
For
Oct. 10, 1936
Flat-rolled steel
piled up, are three to four weeks behind on shipments.
bar producers are booked heavily.
more
Cleveland
their
September totaled 154, a gain of six.
Deliveries
than
was
Stacks active
90,991 tons, compared to 87,475 in August, a gain of 4%.
at the end of
make
will be
was
compared to 634,400 in 1935.
0.66%
Chronicle
Foreign banks...
discounted, purchased bills, industrial advances and United States govern¬
Borrowings
ment securities.
in com¬
parison with the preceding week and with the corresponding
date last year, will be found on pages 2318 and 2319.
Changes in the amount of Reserve bank credit outstanding
and in related items during the week and the year ended
Oct. 7, 1936 were as follows:
Increase
(+)
Bills discounted..
Sept. 30, 1936
s
3,000,000
U. S. Government securities
advances
$23,000,000
(not
—1,000,000
—1,000,000
+2,000,000
—6,000,000
+3,000,000
2,430,000,000
27,000,000
—Other Reserve bank credit.........
4,000,000
Total Reserve bank credit
2,472,000;000
Monetary gold stock
10,971,000,000
Treasury currency.
2,509,000,000
Money in circulation
reserve
—2,000,000
—2,000,000
including
commitm'ts—Oct. 7)
Member bank
(—)
Oct. 9, 1935
$
8,600,000
Bills bought
or Decrease
Since
.
Oct. 7, 1936
s
Industrial
balances.....
—1, 00,000
—6,000,000
+126,000,000 +1,508,000,000
—2,000,000
+113,000,000
6,305,000,000
+39,000,000
+607,000,000
6,479,000,000 +122,000,000 +1,149,000,000
eral Reserve banks
2,636,000,000
—75,000,000
—111,000,000
534,000,000
+38,000,000
—29,000,000
Non-member deposits and other Fed¬
♦
Returns of
275
21
22
34
1,449
236
235
223
$117,000,000 in demand deposits, adjusted, $45,000,000
a
$132,000,000 in reserve
decline of $17,000,000 in borrowings.
brokers and dealers in
to
CENTRAL RESERVE CITIES
on
securities to others
commercial paper
New York City
and
estate loans
$5,000,000 at all reporting member banks; loans to banks in¬
creased $18,000,000 in the
New York district, and "other loans" increased
$51,000,000 in the New York district, $9,000,000 in the Chicago district
Oct. 9
Oct. 7
Sept. 30
Oct. 9
1936
1935
1936
1936
1935
$$$§>$$
8,803
7,793
2,084
I
I
2,101
1,773
to
$63,-
obligations
district, $8,000,000 in the Boston
$7,000,000 in the Philadelphia district, all reporting member
showing
a
fully
net decrease
guaranteed
of/$41,000,000 for the week.
by the
United
"other securities" increased $4,000,000
■
States
768
57
40
1
46
1
28
709
715
727
141
142
153
others
Cleveland
and
San
Holdings of
Government
and of
each.
adjusted, increased $139,000,000 in the Chicago dis¬
trict, $30,000,000 in the Philadelphia district and $11,000,000
79
932
76
914
City...
Outside New York City
banks
Demand deposits,
Loans to brokers and dealers:
In New York
member banks.
Holdings of United States government direct obligations declined
district and
Chicago
Sept. 30
1936
8,716
Holdings of
bought declined $6,000,000 and real
acceptances
and increased $9,000,000 in the Cleveland
Oct. 7
Loans and Investments—total..
member banks, and loans
(except banks) increased $10,000,000.
000,000 in the New York district and $11,000,000 in the Chicago district,
(In Millions of Dollars)
Assets
York increased $8,000,000 in the
Chicago district and $15,000,000 at all reporting
and $70,000,000 at all reporting
ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS
IN
New York City increased $4,000,000,
loans to brokers and dealers outside New
coming Monday:
banks, $56,$61,000,000 in balances with
balances with Federal Reserve
deposits, $84,000,000 in deposit balances of domestic
Loans
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
weekly reporting member banks in 101 leading
30 shows increases for the week of $72,000,000 in total loans
000,000 in deposit balances of foreign banks,
banks, and
Reserve
securities
The condition statement of
and investments,
domestic banks and
Member Banks in New York City and
Below is the statement of the Board of Governors of the
(except banks)
As explained above, the statements of the New York and
Chicago member banks are given out on Thursday, simul¬
taneously with the figures for the Reserve banks themselves^
and covering the same week, instead of being held until the
following Monday, before which time the statistics covering
the entire body of reporting • member banks in 101 cities
cannot be compiled.
In the following will be found the comments of the Board
of Governors of the Federal Reserve System respecting the
returns of the entire body of reporting member banks of
the Federal Reserve System for the week ended with the
close of business Sept. 30:
—
Chicago—Brokers' Loans
on
366
1,428
Complete Returns of the Member Banks of the Federal
Reserve System for the Preceding Week
in time
eral Reserve accounts
Loans
354
1,431
Capital account.
cities on Sept.
Treasury cash and deposits with Fed¬
Federal
.....
Other liabilities
The statement in full for. the week ended Oct. 7,
Francisco
districts,
New York district and $8,000,000 in the
and declined
each in the
$63,000,000 in the
Kansas City district, all reporting
member banks showing a net increase of $117,000,000 for the week.
Time
2291
Financial Chronicle
143
Volume
THE DOMINION OF
OF THE BANKS OF
STATEMENT OF CONDITION
increased $42,000,000 in the New York district and $45,000,000 at
Deposit balances of domestic banks increased
$63,000,000 in the New York district, $12,000,000 in the Philadelphia
district and $84,000,000 at all reporting member banks.
Deposit balances
of foreign banks increased $60,000,000 in the New York district and $56,000,000 at all reporting banks.
CANADA
deposits
reporting member banks.
all
porting member banks, together with changes
and the year ended Sept. 30, 1936, follows:
Increase
■
.'i
•*
1
l
\;i.\",
■
•/'
vv*
"...
'-•••
Loans and
or Decrease
'Since
(—)
Oct. 2, 1935
$
+72,000,000 +2,262,000,000
22,682,000,000
investments—total
5,421,729
11,519,002
5,451,630
8,384,677
Total-
16,934,484
16,940,731
13,836,307
Dominion notes
^
$
Elsewhere
5,277,352
11,657,132
In Canada
for the week
Sept. 23, 1936
Sept. 30, 1936
Assets
(+)
$
$
$
coin-
Current gold and subsidiary
of the re¬
of the principal assets and liabilities
A summary
Aug. 31,1936 July 31, 1936 Aug. 31,1935
Assets
Notes of Bank of Canada
—
Deposits with Bank of CanadaNotes of other banks
United States & other foreign
currencies-
Cheques on other banks
Loans to other banks in Canada, secured,
38_,61+874
36",02+280
30",58+427
18u,742,659
8,326,733
25,590,453
105,698,925
185,883,803
5,687,762
25,508,551
192,354,124
7,473,508
22,634,098
96,903,962
108,634,305
including bills rediscounted
and dealers:
Loans to brokers
In New York City
.
Loans
securities
on
others
to
-
Other loans
S. Govt, direct obligations
U.
Other securities
Reserve with Fed. Reserve banks.
Cash in vault
banks
Liabilities'
Demand
deposits—adjusted
Time deposits
deposits
United States Govt,
+162,000,000
+ 224,000,000
+ 4,000,000
+ 4,000,000
1,256,000,000
3,337,000,000
United States Government
Balances with domestic
—5,000,000
+17,000,000
+ 25,000,000
+70,000,000
+569,000,000
—41,000,000 +1,153,000,000
by
guaranteed
fully
Obligations
+10,000,000
—6,000,000
1,139,000,000
112,000,000
3,949,000,000
9,336,000,000
Loans on real estate
-
—32,000,000
—13,000,000
2,048,000,000
311,000,000
(except banks)
Accepts, and com'l paper boughtLoans to banks
+126,000,000
+ 53,000,000
+ 4,000,000
+15,000,000
972,000,000
222,000,000
—-
Outside New York City
+ 823,000,000
+ 53,000,000
+132,000,000
-*-13,000,000
+ 61,000,000
5,023,000,000
378,000,000
2,363,000,000
'
'""
15,116,000,000
5,063,000,000
847,000,000
Deposits
balance due
and
with
made
5,105,563
—
—2,000,000
+125,000,000
+ 84,000,000
+ 56,000,000
+ 721,000,000
----------
—17,000,000
ents elsewhere than in Canada
and the
United Kingdom
Dominion
Provincial
and
government
government securities
Canadian municipal securities and
Foreign banks
— —
Borrowings
------
Railway and other bonds, debs. & stocks
Condition
of
Settlements
+173,000,000
—1,000,000
as
of
for
Bank
International
Basle, Switzerland, dropped during September to
668,311,924
Sept. 30 from 672,435,983 Swiss francs on
on
against 16,370,001 at the end of August.
International Settlements
as
The statement of the Bank for
of Sept. 30 as compared with Aug. 31 was contained as
follows in Associated Press advices from Basle, Oct. 6:
as
I... 35,314,4.9.24
Cash:
26,20+891
100,852,383
10+054,741
13,364,286
8,929,814
4,570,092
13,463,211
14,50+874
8,750,102
5,464,169
75,414,608
76,468,772
63,650,414
55,778,447
7,021,118
7,015,120
6,859,124
9",170", 994
9,276,685
12,836,696
1,894,899
Loans to Provincial governments
Loans
to
cities,
1,903,209
2,24+930
municipalities
towns,
and school districts
Mortgages
estimated loss pro¬
loans,
On hand and on current account with
Sight funds at interest
Rediscountable bills
and
5,770,169.81
14,806,352.88
banks
-
-
eredit
2.
Treasury bills
Deposit
with
Shares of And loans to controlled cos
Other assets not included under the fore¬
going heads
Liabilities
43,605,565.85
123,527,133
28,476,608.88
63,379,948.30
29,994,459.45
53,723,587.64
24,167,133.62
31,183,346.95
21,943,044.53
41,911,480.33
41,796,263.20
35,893,084.49
---
Sundry investments
43,451,009.52
34,613,872.05
Over six months:
Sundry investments
.
mand in Canada
by
Deposits
the
or on a
-
38,847,900
35",18+772
42,679~ 2 93
~38,186*645
618,608,437
553,817,599
129,968,276
payable after
public,
1,502,821,895 1,493,973,647 +434,256,634
376,010,075
360,699,687
427,473,150
fixed day in Canada
other
from
banks
in
Canada,
secured, including bills rediscounted..
Deposits made by and balances due to
12,556,569
banks
13,789,849
10,420,422
other banks in Canada
10,654,053
13,173,232
31,705,748
1,296,694
62,887,891
2,797,942
2,945,499
132,750,000
145,500,000
31,614,338
1,418,967
63,650,414
2,527,579
26.628,544
15,046,234
and banking correspond¬
ents in the United Kingdom.—
than
Canada
in
the
and
United Kingdom
Liabilities not incl. under foregoing heads
Dividends declared and
or reserve
unpaid
fund
Capital paid up
—
Total liabilities
bills
18,955,535
Advances under the Finance Act
Rest
-
10,321,820
626,323,498
ducting adv. for credits, pay-lists, &c.
Letters of credit outstanding
Sundry investments
119,071,107
Balance due to Dominion govt, after de¬
Bills payable
----------
Between three and six months:
(a) Treasury
/
■■
Notes in circulation
Elsewhere
55,466,673.33
Not exceeding three months
-
3,140,683,691 3,083,526,785 2,962,912,192
Total assets.
Deposits elsewhere than in Canada
Time funds at Interest:
bills
Minister of Finance
circulation
the
for the security of note
Deposit in the central gold reserves
Due to
Sundry bills and investments:
1. Maturing within three months:
(а) Treasury bills
per contra
Loans
322,684,930.39 329,859,129.41
Total
(a) Treasury
as
13,119,094.63
110,933,904.92 112,272,363.62
-211,751,025.47 217,586,765.79
Commercial bills and bankers' acceptances
8,817,675
4,682,666
premises at not more than cost
16,370,001.39
acceptances:
1.
real estate sold by bank-
on
Liabilities of customers under letters of
notice
(b)
155,905,838
17,675,809
75,520,799
-
146,623,341
62,887,891
Elsewhere
68,551,70a
828,629,038
Deposits by the public, payable on de¬
Aug. 31
35,906,435.07
Sept. 30
Assets—
Gold in bars
lb)
77,438,768
649,772,815
96,540,238
Other current loans & disc'ts In Canada.
Balance due to Provincial governments.
[In Swiss Francs
.
90,858,925
57,608,297
90,527,543
58,531,481
657,362,195
155,368,454
21,86+564
Elsewhere than in Canada
less amounts (if any) written off
Aug. 31, it is shown in the statement of condition of the
Bank for the latest date, issued Oct. 6.
A decrease is also
noted in cash on hand and on current account with banks,
which item is listed in the statement for Sept. 30 at 5,770,170
3.
99,055,975
tures, bonds and other securities of
a
sufficient
marketable value to
Bank
of Sept. 30, 1936
Total assets of the Bank for International Settlements,
(б)
139,430,821
46,988,692
171,673,277
99,951,451
(not exceeding 30 days)
loans in Canada on stocks, deben¬
Call and short
vided for
2.
170,612,885
Brit¬
ties other than Canadian
Real estate other than bank premises
Swiss francs
93,617,860
854,227,738
ish, foreign and colonial public securi¬
Non-current
Swiss francs
70,474,292
1,083,536,713 1,087,725,127
Loans to the Government of Canada.
^DomesUc^anksfl
Statement
19,287,134
Due from banks and banking correspond¬
cover..
5,919,000,000
484,000,000
5,893,309
24,476,251
114,189,596
ents in the United Kingdom.
+107,000,000
+117,000,000 +1,870,000,000
+45,000,000
+173,000,000
4,887,562
26,767,481
from other banks in Canada
Due from banks and banking correspond¬
+617,977
55,778,447
2,380,625
2,949,620
182,750,000
145,500,000
2,539,950
132,750,000
145,500,COO
3,128,413,092 3.073.743,300 2,051,60+468
Note—Owing to theTomission offthe cents in the official reports, the footings In
the above do not exactly agree with the total3 given.
224,896,385.44 225,637,453.52
Total
Other assets*
1.
2.
1,389,829.28
1,389,423.78
7,983,579.61
Guaranty of central banks on bills sold
Sundry items
6,548,473.41
New
Exchange Rates
Total.
—
Total
..
—
—.—9,373,003.39—7,938,302.69
-
assets..
—
.668,311,924.48 672,435,982.56
Liabilities—
125,000,000.00 125,000,000.00
Capital—Paid up
Reserves:
3,784,029.10
6,091,706.43
12,183,412.83
fund
1.
Legal
2.
Dividend reserve fund..
3.
General
•
reserve
reserve
fund
I
3,784,029.10
6,091,706.43
12,183,412.83
22,059,148.36
Department put into effect on Oct. 5 new
governing international money order
transactions. The new rates, giving effect to altered currency
values resulting from the recent stabilization accord, were
announced by the Post Office Department on Oct. 2, it was
stated in Washington advices that day, to the New York
22,059,148.36
The
commitments:
1. Annuity trust account deposits
Long-term
3.
German government deposit
French government deposit (Saar)
4.
French government guarantee fund
2.
The Post Office
official exchange rates
"Times" of Oct. 3, which added:
_
Total
International Money Orders
by Post Office Department
on
Placed Into Effect
153,096,250.00 154,763,750.00
76,548,125.00
77,381,875.00
2,030,500.00
2,030,500.00
61,930,084.72
61,930,084.72
further
department repeated recent instructions to postmasters that until
notice money
order business would be suspended with Grenada,
Spain, Switzerland and the Netherlands.
The order of new exchange rates follows:
in the issue of international
be converted into
dollar; into that of
New Zealand, at the rate of $4 to the pound; into that of Great Britain,
Northern Ireland, Irish Free State and the Union of South Africa, at the
rate of $5 to the pound; into that of Denmark, at the rate of 22H cents
to the krone; into that of France, the French Levant and the regency of
Tunis, at the rate of 5 cents to the franc; into that of the Netherland Indies
and Surinam, at the rate of 55 cents to the florin; into that of Norway, at
the rate of 25 cents to the krone, and into that of Sweden, at the rate of 26
cents to the krona.
It is ordered that on and after the 5th inst.,
Total
293,604,959.72 296,106,209.72
Short-term and sight deposits (various
1.
Central banks for their
own
currencies):
account:
(a) Not exceeding three months
(b)
Sight
Total
2.
146,697,747.55 155,077,863.27
Central banks for account of others:
(a) Not exceeding three months
(h) Sight
3.
124,927,354.89 126,455,232.37
21,770,392.66
28,622,630.90
6,344,119.69
6,107,114.87
orders, the money of the United States shall
that of China at the rate of 30 cents to the Shanghai
money
Other depositors:
531,222.94
117,624.64
(a) Not exceeding three months
ib)
Sight
757,224.87
118,690.34
El
Total
648,847.58
28,406,731.77
1,389,423.78
45,015,129.11
1,391,030.59
37,411,968.77
38,802,999.36
Miscellaneous:
1.
Guaranty on commercial bills sold
2.
Sundry items
Total
Total
liabilities
668,311,924.48 672.435,982.56
Resumes
Salvador
875,915.21
27,552,548.69
46,404,552.89
Sight deposits (gold)
International
Money
Order
Service, Suspended Three Years Ago
P The government
of El Salvador has re-established inter¬
order service, which had been suspended in
May, 1933, it is learned from cablegram advices to the
New York "Times" from San Salvador, El Salvador, Oct. 5.
national money
The advices also said:
A
Cabinet
decree limits
„
the service
to
countries
using
the
American
dollar as a basis of exchange.
Comparative Figures of Condition of
In the following we compare
Canadian
Banks
the condition of the Canadian
banks for Aug. 31, 1936, with the figures for July 31, 1936,
and Aug. 31, 1935:
Requesting resumption
of the service,
the Director
General of Posts
stated the colon had been stabilized at the rate of 2.50 to
some
time and that future fluctuations were unlikely.
service
with
American
the
United
exporters.
States
benefits
small
the dollar fcr
Resumption of the
merchants
buying
from
Financial
2292
Reduces Tariffs
France
Chronicle
These
Many Products 15 to 20%
on
Import Quotas Abolished—Steps
Taken
to
Prevent Sharp Rise in
Living Costs
Following Devaluation
—More Than 100
in
real
Oct.
have
measures
in
estate
the purpose
that
order
there
10, 1936
of discouraging persons from investing
may
not be
a
flight of
capital
away
The proceeds of the
used to
develop Italy's colonial empire and for national
defense. '
'x':': V 1
;
v;
v\ ■;;
.v
Finally, the Cabinet abolished the decree approved in September, 1935,
from
will
especially those of the government.
securities,
loan
be
.
tariffs on many articles from
than 100 import quotas,
today (Oct. 10), it was announced on Oct. 3 in a
France will reduce import
15 to 20%, and will eliminate more
effective
the prices
also reduced
series of official decrees which
of
the amount of tariff decreases.
These
actions followed devaluation of the franc, which was re¬
import licenses bj
(page 2135).
ported in the "Chronicle" of Oct. 3
Blum announced that the tariff changes were
devaluation.
a
proclamation warning that unjustified price increases would
be treated severely.
A
Paris
dispatch
Occ. 3
of
York
the New
to
"Times"
reported the tariff changes as follows:
For
Americans
awaited
well
as
eagerly but
hindrance
trade
to
of which
are
other
as
hopelessly
France
with
exporters it
is
five
for
Nothing
years.
such
and
that has been
move
a
nuisance
a
has been
such
the quotas,
as
in
of
excess
will be taxed
6%
on
/■
Following Devaluation
of Lira—Sale of "Travel Lira" to Continue
Following the devaluation of the Italian lira by the Govern¬
5, referred to elsewhere in our issue of today,
the Italian stock exchanges, closed since Sept. 25, reopened
on
Oct. 7; as to the reopening of the markets, wireless
advices from Rome, Oct. 7, to the New York "Times" of
ment on Oct.
Oct. 8, said:
'
,
a
Stock Exchanges, which had been
The reopening today of the Italian
closed since Sept. 25, was not
marked by the violent and unbalanced dis¬
turbance that many people had expected as a
■
The
tariff reductions
Varied
for
manufactured
articles,
raw
materials.
'
At
the
It
lowered
tariff
The
bustible
the
utensils
of ap
which
had.
will
the control
It
is
figured
ad valorem surtax of
of
prices
wa3
entire question
of
coffee, tea,. pepper, com¬
concern the cost of living for
with French
glass,
industries.
cutlery,
Industrial stocks, as was to be
result of the devaluation of
expected, rose in value, but there
securities, which
Real estate issues also
limits.
general rush to sell fixed-interest bearing State
well supported and Maintained their positions.
points, but the rise was held within narrow
the
of
gives
French
Although it
them
the equivalent
40%, and that increased imports -will
was
stated in Rome (Associated Press) advices
of Oct. 5 that sale of the "travel lira", offered to tourists at
a discount to induce them to visit Italy, had been tempo¬
rarily suspended that day due to the devaluation of the lira,
it was reported in wireless advices from Rome, Oct. 8, to the
New York "Times" of Oct. 9, that the sale of these lira
would be continued; the advices of Oct. 8 follow:
tissues,
protection
pottery,
part
devaluation
at least
pot harm them tq that extent.
into the
go
away
were
no
went up a few
cover
cover
take
was
'
for
interfering
without
quotas
machinery
manufacturers
on
the whole list.
today
These products
and oil.
the
will
revising
announced
Frenchman
and
commission
toward
reductions
of
20%
rise they will try to counteract the movement with
Another
liquids
average
Removal
and
study French statistics indices, and when the cost of
view
the
They will be 15%
quotas.
semi-worked articles,
for
commission
customs
a
will
tariffs.
with
the lira.
'
vital products starts to
tariffs
17%%
under
not
■
time
same
established.
Tariff Reductions
items
cover
sharply rising sliding
a
'
Italian Stock Exchanges Reopen
(many
atolishrd.
now
dividends
scale.
Premier
made in order
Oct. 4 issued,
Government on
French
The
all
no
unduly as a result of
of living would not rise
that the cost
limited liability company was allowed to distribute a dividend
greater than 6% on its capital, the surplus being ordered invested in
State securities.
In the future unlimited dividends may be distributed, but
whereby
It is officially announced that the tourist lira,
attract
a
introduced this year to
greater number of tourists to Italy, will be continued, despite
lira's devaluation.
$4,80.
It will be possible to buy 100 lire for
the
This rate
represents a discount of slightly less than 10% on the lira's official value#
;
Silf taxes Also Removed*
One of
been
the
decrees
instituted
of
cases
The
against
China
and
trade
follow
away
countries
be
it
surtaxes that had
with compensatory
with
Japan, however, it
government let
world
did
also
currencies.
devaluated
known that
these
in "making
concessions
An
internal
other
expected
it
appeal from the Ministries of National Economy and Interior, which
workers
appeal
enforce
Prefects
fied
raise
just
prices
accomuanied
was
to
means
stores and professional
France today, asks factories,
over
to
not
by
its desires
warning
a
if
because
the
franc
the
that
impelled to do
is
The
devalued.
Devalues Lira 40.93%—Cabinet Also Reduces
Many Import Duties—Reserves Right to Alter
Gold Content of Currency by 10%
Government
Oct.
on
5
her currency
the
followed
lead
previously.
The
would make the
grams
stored
the
since December,
lira
the
to
1927.
On
of
it
value
had
abandoned
The
Italian
it
The
decrees
until further
month.
hotel
Italian decrees
coucern,
secondly,
notice at prices
No
rents
may
for
electricity,
the
next
and
gas
the third
restrictions.
The
import
vary
abolish the
The
suspend,
on
the
Under-Secretary for
quotas
system
head
to
place, the decrees include
of
for
of
two
public
The
years.
prices
Exchange
the government
and the
is
in
shilling was
following wireless advices from Vienna, Oct. 8,
by Finance
Ludwig Draxler to hear emphatic declarations from himself and
be
no
devaluation
of
the
Austrian
schilling,
whatever
other
countries
business circles
as
to how
were
prompted by uneasiness
n
Austrian
exporters could compete with the schilling's high
value and attempts being made abroad to persuade Austria to devalue.
of
.
The value of the
authorized
to
Italy
to
to say:
not
may
and!
Acting Premier Koloman Daranyi, answering
Minister of Finance
desirable to
necessary nor
Hungarian pengo is also to remain un¬
changed despite action by other countries in devaluating
their currencies; as to this Budapest advices (wireless) of
Oct. 7, also to the New York "Times," had the following
conveyance
of greater consumption
barter altogether.
Cabinet had decided unani¬
might do.
abolishing certain trade
measures
Foreign
Polish
Dr. Viktor Kienboeck, President of the National Bank, that there would
No goods may be sold
goods
private
that the
Austrian and foreign newspaper men were invited tonight
Minister
be raised.
In
stated
Apparently these declarations
of prices.
Czechoslovakia following the
Committee the
to the New York"Times" of Oct. 9:
higher than those existing at the end of last
be raised
accommodations,
was
revealed in the
Government,
follows:
as
control
Cabinet of
That Austria would not devalue the Austrian
nevertheless, reserved the right further to adjust the gold
content of the lira upward or downward by not more than
10%.
The present Italian currency will, continue as legal
tender and must be accepted at its face value.
A Rome dispatch of Oct. 5 to the New York "Times" sum¬
marized the
6 the
mously that day it was neither
devalue the Polish zloty.
re¬
with
gold.
Oct.
preceding day, ordered that the crown be devalued in gold
content by between 10.6% and 15.98% to between 31.21
and 33.21 milligrams.
In Associated Press advices from Warsaw, Poland, Oct. 5,
respect to the
dollar and the pound sterling before the United States and
Britain
5.02 cents.
recommendation of the Cabinet Economic
and
The decrees thus
parity in American equivalents between
crown
originally proposed that goldr content of the crown
Government
be lowered to between 31.21 and 33.21 milligrams.
reducing import
tariffs, when the Cabinet approved a series of decrees sub¬
mitted by Premier Mussolini decreasing the lira's gold con¬
tent 40.93% and lowering duties on many raw materials,
including wheat, meat and coal.
The Cabinet fixed the
gold equivalent of 100 lire at 4.677 grams, compared with
7.9119
gold content of be¬
milligrams and 32.21 milligrams, compared with 37.15 milli¬
3.917 cents and 4.25 cents, against previous parity of
Italy
devaluating
15.337% to 22.972%.
The crown, under the devaluation law, will have a
That
Italian
toward international mone¬
Parliament enacting a measure to devalue the gold
content of the crown
tween 30.21
grams
Great
Oct. 8 enacted legilsation
Czechoslovakia today joined the movement
tary reconstruction,
so.
throughout the country have been ordered to watch for unjusti¬
in
prices and to report immediately with the view to
in
on
gold content of the crown 15.337% to 22,972%,
it is learned from the following United Press advices from
Prague, Czechoslovakia, Oct. 8:
the
had
government
prosecution.
The
Currencies
Maintain
increases
France
VotesIDevaluation of Crown—Austria,
Hungary Make Known Intention to
The Czechoslovak Parliament
would
countries
and
to devalue the
placarded all
was
wellbeing
Poland
to
the lead.
and
Czechoslovakia
the
In
maintained! at 10%.
was
are
authorized
as
if
they deem it advisable, wholly or in part any restrictions
movement of capital or goods between
Italy and foreign countries.
to
newspaper men's
inquiries
how the pengo would be affected by the devaluation of the Italian
and Czech currencies, said today that the decision not to devalue the pengo
that was made last week would stand unaltered.
■ Y
Compensatory Duties Ended
The
import
immediately
with
to
duty varying from 10 to 15%, applied in September, 1931,
after the pound's devaluation, on goods from all countries
depreciated
currencies, has been abolished!.
It
is
compensate for the, higher price that will have to be paid
for foreign raw materials.
The head of the government and Ministers of
Finance,
Corporations
the
classes.
all
today's
decrees
embody measures for distributing
as evenly as possible among all
other
customs
duties
as
they
A
place,
accruing
loan
from
devaluation
bearing 5% interest, which will be redeemed in 25
years,
be' issued:.
amount
having
of
modify
All owners of real estate are
required to subscribe to an
equal to 5% of the assessed value.of their properties.
Those not
ready cash will be permitted to pay in instalments over a period
years.
The
sand
to
real
estate
amortize
tax,
this
moreover,
loan.
will
be
increased by 3^
lire
per
thou¬
Bonds
Listed
on
on
New
York
Stock
Oct. 1, 1936
following announcement showing the total market
on the New York Stock
Exchange on
Oct. 1, was issued by the Exchange on Oct. 6:
value of listed bonds
As of Oct.
fourth
burden
is to
Agriculture and
to
of
The
«
best.
In
the
authorized
are
Value
Exchange
in depreciated
lire
think
Market
hoped in this way
1, 1936, there
851,030 par value listed
market value of
on
were
1,404 bond issues aggregating $45,210,-
the New York Stock Exchange, with
a
total
$43,305,464,747.
This compares
with 1,400 bond issues aggregating $44,value listed on the Exchange Sept. 1, with a
total market value of $42,235,760,556.
In the following table, listed bonds are classified by
governmental and industrial groups with the aggregate
market value and average price for each:
279,021,992
par
Financial
143
Volume
We
Oct.
1, 1936
Sept. 1, 1936
2293
Chronicle
give below
a
two-year compilation of the total market
value and the average
Market
Aver.
Market
Price
Value
Price
$
$
price of stocks listed
on
the Exchange:
Aver.
Value
$
Foreign Government
Autos and accessories
Financial
Chemical
Building
Electrical
equipment manufacturing..
Food
Rubber and tires..
Amusements
Land and realty...
Machinery and metals..
Mining (excluding iron)
...
Petroleum
Paper and publishing
Retail merchandising.
Railway and equipment
Steel, Iron and coke
Textile
Gas and electric
Gas and
106.31 23,412,824,102 106.70
66.67
2,276,932,008 67.84
24,367,829,192
2,232,992,963
10.646.273
39,910,386
100,299,920
44,034,094
26,574,305
260,509,684
150,584,753
76,962,246
12,057,584
39.972.274
162,033,550
441,564,395
71,924,659
18,515,160
9,085,594,414
528,950,695
8,983,971
2,398,918,980
190,032,214
1,085,654,290
407,625,746
21,425,000
23,365,595
17,039,760
4,833,646
46,031,150
235,179,746
1,189,368,113
6,050,000
(operating)
electric (holding)
Communication (cable, tel. & radio)..
Miscellaneous utilities
Business and office equipment
Shipping services
Shipbuilding and operating
Leather and boots
Tobacco
U. S. companies operating abroad....
Foreign companies (incl. Cuba & Can.)
Miscellaneous businesses
All listed bonds
109.27
9,942,829 102.04
103.77
78,419,245
104.76
98,628,766 104.75
102.25
130.52
34,191,218 135.31
260,762,970 104.03
151,006,203 105.99
74,930,242 94.29
12,122,257 48.76
39,100,225 98.05
155,075,272 71.40
442,978,003 96.84
94.98
72,096,071
103.99
105.69
96.83
48.49
100.28
74.43
96.66
95.70
92.25
103.79
64.16
105.91
96.03
108.49
77.81
107.13
69.69
73.99
104.87
128.37
69.39
43,305,464,747
61.41
73.00
105.00
128.07
68.65
70.36
95.79 42,235,760,556
95.39
Market
Average
Price
Value
Price
Oct.
1...
Nov. 1...
Dec
1
1935—
89.79
Oct.
88.27
Nov. 1
89.39
Dec.
$
Sept. 1
88.99
89 85
1
Feb.
1
40,659,643,442
41,064,263,510
41,111,937,232
40,360,681,526
40,147,199,897
39,617,835,876
39,864,332,759
39,457.462,834
—
Mar. 1...
Apr. 1...
May 1
June
1...
July
1...
Aug. 1...
90.73
91.30
90.54
89.93
1
1....
91 08
39,398,759,628
40,347,862,478
40,624,571,422
41,807,142,328
41,524,856,027
39,648,252,468
41,618,750.056
Mar. 1....
91.85
June 1
90.69
July
90.62
Aug. 1
91.62
Sept. 1
41,685,172,818
42,235,760,556
91.71
Oct.
43,305,464,747
1....
1
Jan.
1
1—.
July
1___.
Aug.
1
35,933,882,614
32,991,035,003
32,180,041,075
30,936,100,491
33,548,348,437
34,548,762,904
36,227,609,618
38,913,092,273
Sept.
1
39,800,738.378
Mar.
1
Apr.
1
May
1
June
1
I.¬
Nov.
1__
24.22
Dec.
1_.
1_«
of
Listed
Stocks
on
New
York
93.59
94.44
94.47
93.90
25.99
Feb.
1__
25.29
Mar.
l._
24.70
Apr.
May
1__
23.73
25.77
June
26.50
July
1.
27.78
Aug.
1..
29.76
Sept.
1_.
30.44
Oct.
1..
1_.
1_.
94.24
95.39
1, 1936 New York Stock Exchange member total net borrow¬
collateral amounted to $971,531,244.
The ratio of these member
total borrowings to the market value of all listed stocks
therefore
those
1.76%.
only
on
these ratios
Member borrowings
are
on
this date
was
broken down to separate
not
listed share collateral from those
on
The report
Exchange
other collateral;
thus
usually will exceed the true relationship between borrowings
on
for Sept. 30, 1936, made public by the Stock
Oct. 3, follows:
New York Stock Exchange member total net borrowings on collateral
30,
1936,
The
aggregated $971,531,244.
detailed
tabulation
follows:
Demand
Time
Net borrowings on collateral from New York banks
or trust companies
$569,497,580
Net borrowings on collateral from private bankers,
(1)
(2)
brokers, foreign bank agencies or others in the
City of New York
,
$371,887,515
H
29,354,149
Combined total of time and demand borrowings
Total face amount of "government
792,000
$372,679,515
Below
we
furnish
Demand Loans
July
collateral
31,169,850
same as
.
in the loan
Sept. 29
Oct.
.
-
31
.
Nov. 30
.
Dec. 31
.
Total Loans
Time Loans
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
$923,055,826
874,207,876
831.529.447
827,033,416
831,115,348
880,263,155
$334,982,000
329,082,000
299,899,000
280,542,000
273,373,000
263,962,869
600,199,622
631,624,692
753,101,103
688,842,821
559,186,924
581,490,326
571,304,492
.
$588,073,826
545,125,876
531,630,447
546,491,416
557,742,348
616,300,286
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
31
Aug. 31..
324,504,713
292,695,852
243,792,915
375,107,915
410,810,915
407,052,915
396,076,915
381,878,415
372,679,515
1935—
Jan.
31
Feb. 28
Mar. 30
Apr. 30
May 31
June 30
July
31
Aug. 31
Sept. 30
Oct.
31
Nov. 30
31
31
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
792,421,569846,113,137
938,441,652
i
1936—
gate market value and average price for each:
Mar. 31
Apr. 30
May 29
June 30
Oct. 1, 1936
Sept. 1, 1936
July
Aver.
Market
Aver.
Value
Price
Value
_
Chemicals
Building
Electrical equipment manufacturings.
Foods
Rubber and
tires
machinery
Amusements
Land and realty
Machinery and metals
Mining (excluding iron)
Petroleum
publishing
Retail merchandising
S
46.98
24.85
74.20
38.89
51.78
37.38
42.56
74.32
25.24
9.29
38.24
33.71
29.87
25.86
42.09
Steel, iron and coke
Textiles
Gas and electric (operating)
Gas and electric (holding).
Communications
(cable, tel. & radio).
utilities
Aviation
Business and office equipment
Shipping services
Ship operating and building
....
Miscellaneous businesses
Leather and boots
Tobacco
Garments
U. 8. companies operating abroad
Foreign companies (incl. Cuba & Can.)
All listed stocks
46.95
262,985,405
Railways and equipment
Miscellaneous
5,065,205,755
1,434,204,903
6,059,914,088
717,685,927
1,916,709,969
3,297,921,477
409,322,596
835,559,769
385,659,751
46,579,080
2,155,268,886
1,978,921,797
5,714,705,960
435,897,136
2,733,601,445
5,441,723,519
2,644,196,495
.
591.906.169
Sept. 30--
598,851,729
924,704,335
924,320,544
996,894,018
1,063,950,736
969,997,839
988,543,241
967,381,407
973,784,584
971,531,244
Price
$
accessories
Financial
31
Aug. 31
Market
and
as
two-year compilation of the figures:
a
1934—
29
Paper
securities" pledged
compilation is exactly the
report issued by the Exchange a month ago.
Feb.
Farm
$971,531,244
—
for the borrowings included in items (1) and (2) above--
Jan.
following table issued by the Exchange listed stocks
classified by leading industrial groups, with the
aggre¬
and
40.88
contracted for and carried in New York, as of the close of business Sept.
Dec.
Autos
40.56
the. earlier dates.
at
all listed shares and their market values.
are
40.30
Following the increase of $6,403,171 in August, outstand¬
ing brokers' loans on the New York Stock Exchange dropped
$2,253,340 during September to $971,531,244 Sept. 30 from
$973,784,584 Aug. 31. The increase in August had followed
a
decline of $21,161,834 from June 30 to July 31.
The
loans outstanding at the latest date—Sept. 30—are $190,309,375 above those on Sept. 30, 1935, when the figure was
reported at $781,221,869.
Demand loans on Sept. 30 were above both Aug. 31 and
Sept. 30, 1935, while time loans were lower.
The demand
loans at the end of September totaled $598,851,729, against
$591,906,169 Aug. 31 and $362,955,569 a year ago, and the
time loans at the latest date amounted to $372,679,515, as
compared with $381,878,415 and $418,266,300, respectively,
In the
on
37.35
38.00
$2,253,340 During September in Outstand¬
on New York Stock Exchange—
Total Sept. 30 of $971,531,244 Compares with $973,784,584 Aug. 31—Above Year Ago
The scope of the above
As of Oct. 1, 1936, there were 1,201 stock issues
aggregat¬
ing 1,347,954,871 shares listed on the New York Stock Ex¬
change with a total market value of $55,105,218,329, the
Exchange announced on Oct. 3. This compares with 1,198
stock issues aggregating 1,344,364,896 shares listed on the
Exchange Sept. 1, with a total market value of $54,532,083,004, and with 1,173 stock issues aggregating 1,307,238,421
shares with a total market value of
$40,479,304,580 on
Oct. 1, 1935.
In making public the Oct. 1, 1936 figures,
the Stock Exchange said:
on
38.61
38.85
35.74
Stock
Stocks
As of Oct.
35.62
37.98
ing Brokers' Loans
93.83
Exchange Oct. 1, $55,105,218,329, Compared with
$54,532,083,004 Sept. 1—Classification of Listed
ings
34.34
46,954,581,555
50,164,547,052
51,201,637,902
51,667,867,515
47,774,402,524
49,998,732,557
50,912,398,322
54,066,925,315
54,532,083,004
55,105,218,329
$598,851,729
Value
Market
32.90
1936—
25.97
Decrease of
95.79
Apr. 1
May 1
$30.97
Oct.
24.61
$24.90
Jan.
Feb.
94.78
91.29
89.49
$40,479,304,580
43,002,018,069
44,950,590,351
$32,618,130,662
32,319,514,504
31,613,348,531
33,888,023,435
1935—
90.24
1936—
Jan.
1...
39,061,593,570
38,374,693,665
38,170,537,291
38,464,704,863
1...,
Feb.
1935—
Jan.
1
77.06
67.86
Average
39,473,326,184
39,453.963,492
38,751,279,426
39,405,708,220
39,665,455,602
Dec.
108.50
Value
Sept. 1
l._..
106.50
Market
Aug. 1...
1
1
96.87
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:
$
Sept.
Oct.
Nov.
105.55
The
1934—
Price
1935—
103.21
6,160,000 112.00
110.00
Value
82.76
240,883,354
1,183,099,663
70.64
Average
Price
86.88
13,451,612
8,895,820,137
549,258,690
8,906,028
2,380,500,622T
191,700,241
1,085.672,604
403,675,152
21,300,000
22,750,579
16,810,320
4,839,413
45,923,676
84.37
Market
1934—
45,999,054 103.33
106.82
Average
Value
United States Government
Market
24.67
61.59
2,404,828,118 34.53
1,897,654,411 19.53
3,890,976,106 103.70
235,259,194
334,213,511
449,791,022
20,117,752
52,023,513
133,453,861
237,905,941
1,813,167,516
31,322,170
754,766,010
1,313,675,246
28.55
16.14
40.72
9.60
17.18
23.29
37.81
68.11
32.83
24.41
34.40
$
4,922,790,008 45.79
1,393,648,148 24.31
6,039,155,626 74.12
712,065,538 39.01
1,958,969,811 53.16
3,306,640,663 37.47
402,251,823 42.97
790,267,730 70.29
370,878,112 24.29
47,408,225
9.50
2,127,502,661 37.92
1,956,899,117 33.35
5,631,142,269 29.63
412,001,263 24.44
2,675,522,271 41.19
5,358,308,120 46.23
2,602,925,612 61.39
254,149,032 23.77
2,471,364,330 35.48
1,888,838,252 19.44
3,932,097,746 104.81
233,700,345 28.38
316,288,548
430,509,875
19,148,542
48,691,401
133,063,788
239,532,084
1,840,913,765
29,936,403
777,585,702
1,207,886,194
.
15.27
38.90
9.14
16.08
23.23
38.06
69.15
31.38
25.15
31.61
SEC Amends Rules
Permits
Affecting Dissolved Partnerships—
Registration
to
Continue
in
55,105,218,329
40.56
60
Amendment of the rules
relating to the registration under ,,
Exchange Act of 1934 of brokers and dealers
to meet situations in which a registered partnership is dis¬
solved by the death, withdrawal or admission of a partner
and a new partnership is formed to continue the business
was announced on Oct. 7 by the Securities and Exchange
Commission.
Under the new rule, MB-4, the registration
of the dissolved partnership is deemed to continue in force
and to constitute the registration of the successor partnership
for a period of 60 days.
The successor partnership must,
however, the Commission explained, file an application for
registration within 30 days after the dissolution.
A revised
Form 4-M./available for use in this class of cases, will be
published shortly.
The SEC also announced on Oct. 7, the adoption of
Rule MB-5, which provides for the registration of any fiduci¬
ary appointed by a court to continue the business of a regis¬
the Securities
tered broker
or
dealer.
This
new
rule follows:
Rule NB5. Registration of Fiduciaries—The registration
40.88 54,532,083,004
Force
After
Dissolution
for
Successors—Rule
Adopted for Registration of Fiduciaries
Days
of a
broker or
dealer shall be deemed to be the registration of any executor, administrator.
Financial
2294
ad¬
vantage of the new trading facilities.
bankruptcy, or other fiduciary,
Soy bean broker specialists estimated
lots to be around 300,000
bushels and its multiples.
the day's volume of trade in round
job lots of 1,000
bushels, with a smaller total in
...
Price Fluctuations
Soy beans for December delivery opened at
dipping to $1.19 and then rallying to close at
started at $1.20 but soon
Registration of Utility Holding Companies
by SEC—Concerns Temporarily Registered
Required to File Permanent Statements by Dec. 1,
Form
1936
10,
Commercial interests were anxious to take
"first-day" enthusiasm.
creditors, receiver, trustee
appointed or qualified by
order, judgment, or decree of a court of competent jurisdiction to continue
the business of such registered broker or dealer, provided that such fiduciary
files with the Commission, within 30 days after entering upon the per¬
formance of his duties, a statement setting forth as to such fiduciary sub¬
stantially the information required by Form 3-M.
guardian, conservator, assignee for the benefit of
in insolvency or
Oct.
Chronicle
for
and
Issued
closed
at
$1.22,
$1.20, the price subsequently
$1,192^. May contracts also
advanced to a premium over the nearby delivery
the best price of the
spreading operations, buying the one delivery
day.
There were numerous
against sales of the other.
1936
2,
for the permanent registration of utility holding companies
as required
under Section 5 of the Public Utility Holding
Company Act of 1935. It was explained that the new form,
to be known as U5B, is immediately applicable to some 65
holding companies which have become temporarily registered
through the filing of notification of registration with the
SEC.
These companies are required to file a complete
registration statement within one year after such notifica¬
4
Oct.
on
the
form, which it had adopted on Oct.
new
but not later than Dec. 1, 1936, the SEC
tion of registration,
said, adding that any holding company registering in
future
file
must
after filing
revised
such
the
days
later than 90
not
Oct.
on
4
the
adoption
of
TJ5A for the notification of registration,
Form
The
form,
tables
interlocking
outstanding
and all
The
of
of
description
calls
class
such
less
the
for
if
of
direct
of
more
a
question
the
form
calls
of
composite
form
since
company
foe
data
inter-company
required
from
the
registering under the
or
for
is
also
held
distribution
beneficial
required
furnish
to
by
of
class.
each
This
ownership of holding
thereof
of
"a
on
description
officers
employees receiving
or
the
of
financial
substantial
a
of
the
The SEC said that
a
is
to be sought.
feature of the month's statistics
58.6% of the
monthly total, and the largest month in this respect in the
history of the Securities Act. The following table indicates
the trend of this type of financing:
8 Mos. First 8 Mos.
1936
12 Mos. 1935 First
1935
1935
Real estate,
Organiaation and development
$29,200,(00 $112,400,000
$49,400,000
plant, equipment and miscell.
68,800,000
—
276,900,000
2,100,000
105,600,000
5,500,000
Working capital
6,300,000
$160,500,(00 $100,100,000 $395,600,000
Total
as
and
Act
contrasted
of
of
interest
securities.
The
underwriters
balance
sheets,
companies
of
thus
from
where
assets,
description
each
of
(whether tangible
and
reflected
themselves.
by
each of
its
of
electric
such
energy
and
information
supplied
in
this
is
largest
showing
which
the
the
final
in
the
write-ups
major
or
still
fixed
exist,
revaluation
intangible)
of in¬
which
accounts
asset
was
or
in
registrants
in
the
part the $100,000,000 financing of the General Motors Acceptance
Corp.
Manufacturing companies were second with 19.4% of the dollar
value
month's aggregate,
the
of
and utility companies were third with
registrations of 17.3% of the total.
Fixed-interest-bearing securities,
in every month since March, 1935,
as
the registrations:
constituted the predominant type of security included in
issues
were
the next largest group at 32.4%
issues amounted
amounted to
Common stock
of the total; preferred stock
12.5%, and certificates of participation and warrants
to
1.6%.
The relative importance of common stock issues in
is better indicated by the net amount of registrations of
these issues after deduction of portions registered for conversion purposes.
In
August, such net common stock issues aggregated 25.5% of total regis¬
trations after elimination of the "reserved for conversion" securities—the
highest percentage on this basis since January, 1935, when common stock
From the beginning of 1935 to February, 1936, inclusive, the monthly
totals
of
the
of
registrant
include information whether
the
by
or
Securities
Act
the
permitting
and
any
or
revaluation
such
was
public body, the amount of the resultant
of
affected thereby.
were
or*
1933
registrant
specific reference
exhibits
be
to
and
of
reports
annual
the
quires the registrant to
if
the
happened to represent more than half of an $11,044,000 monthly
books
registrant
'with
were
total.
subsidiaries
cooperate
companies
the books of any predecessor of any'such company."
the
the
Copies
investment
August with 39.9% of the month's total registrations—reflecting for
most
issues
exact
Among
filed
commissions.
and
Financial
is also from the Commission's announce¬
4:
subsidiary
the
on
either
1934,
"consolidated,"
to
duplication of other material already
simply by
of
of Oct.
current financing
revaluation
assets
The following
ment
37.5% represented debentures and 16.0% secured bonds.
surplus
brief
6hall
avoids
conflict
registrant's
decrease, and how the company's accounts
or
form
$20,000
interest
on
the
to
the.
Securities
Rather
Ex¬
such
incorporate
it.
to
file with
than
re¬
descriptions of securities, often a highly involved and technical
procedure, the form calls for the filing of copies of fundamental documents
be
$77,384,000 $48,550,000 $26,655,000
the sharp increase in the total of new money
For August, this total was $118,033,046 or
directors
and
agreements it may have with
State commission
a
cause
holder's
subsidiary
1915,
or
all
adduced.
are
1,
of
quiring
To
70,000
To/ be issued against claims, other assets, &c.
$615,000
5,348,000
2,000
1,724,000
18,197,000
769,000
owners
of them, and
of them might have an indirect
any
"consolidating,"
accounts
Commission under
and
$6,037,000
8,007,000
3,000,000
26,704,000
4,732,000
$26,647,000
12,319,000
11,282,000
Reserved for other subsequent issuance
18,733,000
Registered for the "account of others"
7,452,000
To be issued in exchange for other securities..
951,000
vertible features
.
loans to officers and directors;
on
description
a
any
and-
fixed
Jan.
approved bv
reports
August 1935
con¬
of record
the number of holders of
more,
shares
the
r
forth.
the
the
of
for
of
or
investment
change
is
securities.
problem
asks
vestments
material
the
-might
or
of
figures
the
to
The
registrant
total
which
for
and
income
figures
separate
increase
and
compensation
in
be set
would
issues
This
detailed
and
properties
companies
the compensation
calls
trustees
future
statements
the
of issues with
Reserved for the exercise of options
and
is presently guaranteeing loans to any
registrant must also reveal
made
and
loans
twenty largest stockholders
shares
the
reveal
Also,
must
year
which
the
The
1,000
contracts
to
as
between
As
conversion
for
the
on
charts
information
presenting
bank
registrant
concerning the
trustees
The
This
-
the
the
and
time,
interest.
Another
to
of
known.
company
information
as
business
Other questions require data
whether the
or
July 1936
August 1936
Reserved
stocks.
required.
or
list
shares
first
Information
is
infomation
including
full.
its subsidiaries,
that required for
a
holders
1,000
company
I
detailed
systems,
in
investments,
the
of
stock
securities,
than
will,
for
of
number of
the
for
Exchange Act of 1934.
form
each
of
securities,
registrants is similar to
Securities
calls
company
relationships
complete picture of the financial set-up of the register¬
a
ing holding company
The
U5B,
as
holding
registered
designed to give
loans.
other than cash sale for the account
TotaL.
be known
to
of
showing
its
proceeds of $296,022,000
gross
fully effective during August, 1936. This total com¬
pares with $362,925,000 for July, 1936, and $254,062,000
for August, 1935.
Included in the amounts for August and
July of this year and for August of 1935, the Commission
explained, are securities which have been registered but are
became
:
structure
on
Form USB, for the permanent
holding companies, the SEC an¬
utility
of
estimated
with
securities
and
making available its
nounced
the Securities and Ex¬
change Commission said that an analysis of statements
registered under the Securities Act of 1933 indicates that new
public Iiule 5B-1 in connection with
of Form U5B, and Rule 5A-3 in connection
with the adoption of Form U5A.
Rules 5A-1 and 5A-2, the
SEC said, are repealed, effective Nov. 1, by Rule 5A-3.
In
announcement issued Oct. 4
an
a
adoption
registration
Also Effective
Reorganization and Exchange Issues
In
intended for purposes
of registration.
announced
also
at the same time made
the
statement
a
its notification
SEC
The
of 79 New Issues Under Securities Act
Totaling $286,022,000 Effective During August—
New Money Issues Reached Record Amount
Five
Registration
promulgated
Commission
Exchange
and
Securities
The
are
filed
each
to
of
are
its
copies
of
subsidiaries
stockholders
the
with
by the
annual
State
registrant
likewise required.
Federal
Power
Commission,
the
Commission
re¬
file information concerning interstate transmission
by the companies within its system.
However,
being presented currently to the FPC, it need not
gas
form.
stock
common
issues
averaged
$22,000,000,
March,
but since
1936, these securities have ranged between $50,000,000 and $119,000,000
month.
per
Approximately
$77,384,000
of
securities
effectively
registered
during
August, 1936, were intended for purposes other than immediate cash sale
Of this total, about $18,733,000
for the account of the registrants.
were
registered "for the account of others"; $8,403,000 for exchange for other
securities, various claims and assets;
$26,647,000
were
reserved for
con¬
version of securities having convertible features; $12,319,000 for the exer¬
cise of options
After
and warrants, and $11,282,000 for other subsequent issuance.
the above amounts,
deducting
there remained
$208,638,000
of
registered securities to be offered for sale for the account of the registrants.
Of these securities, $197,731,000 represented issues of already established
enterprises
companies.
$10,907,000
while
In
were
initial
offerings
of
newly
organized
connection with the sale of these issues, the registrants
estimated that expenses of
3.7% would be incurred: 3.1% for commissions
and discounts to underwriters
and
agents, and 0.6% for other expense in
connection with flotation and issuance.
The main
use
proposed to be made of the funds derived from the sale of
the registered securities was the increase of working capital—either directly
Chicago
Board
Trading
History
of
Trade
Opens Market for Futures
in Soy Beans—Is First Such Market in
history for futures trading in soy beans
inaugurated on Oct. 5 by the Chicago Board of*Trade.
Creation of the market was voted by members of the Board
of Trade on Oct. 2 bv 633 in favor and 23 against.
As to
the initial day's trading in the new market, we take the
following from the Chicago "Journal of Commerce" of Oct. 6:
was
Featured by the fact that most of the orders executed came from proces¬
sors,
the first soy bean futures market in history yesterday completed its
initial day of existence on the Chicago
of all
*
Boatd of Trade, to the satisfaction
interests'concerned.
While grain traders displayed much interest in the new market, it quickly
became apparent that the market operations were not being swelled by any
the proceeds
of the issues or indirectly through the repayment of
made for this purpose.
More than 54%
of the month's net
cash
proceeds was intended to be used toward this end.
Next in importance
was
The first market in
J
from
the
recent loans
was
repayment
to be
toward which $53,403,000
applied—92.5% of which amount
before maturity.
for the
of indebtedness,
was for
(26.6%)
the repayment of debt
Of the balance of the net proceeds ,4.1% was to be utilized
purchase of plant, equipment and other assets; 3.8% for the pur¬
chase of securities for investment; 2.0%
for the purchase of securities for
affiliation; 7.1% for the retirement of preferred stock issues; 1.5% for the
reimbursement of loans
made for capital expenditures, and 0.6%
for or¬
development expenses and for miscellaneous purposes.
than 86.2% of the $208,638,000 of securities to be offered for cash
ganization and
More
was
was
underwritten; 4.5% was to be offered by various selling agents, and 9.3%
to
be offered by the registrants themselves.
tion statements indicated that
93.2%
sale for the account of the registrants was to
—more
Analysis of the registra¬
of the securities proposed for cash
be offered to the general public
than nine-tenths under underwriting agreements; 5.5% to the regis-
Financial
143
Volume
Almost all of the offer¬
trants' own security-holders,
and 1.3% to others.
ings to the latter two groups
of persons were to be made
by the registrants
themselves.
became fully
Corp., $50,000,000 10-year 3% debentures, due 1946, and $50,000,000 15-year 3H%
debentures, due 1951; Cincinnati Gas & Electric Co., $35,000,000 1st
mtge. 3H% bonds, due 1966, and 125,000 shares of Federated Department
issues for which registration statements
Among the large
4H%
Inc.,
Stores,
preferred stock having a proposed aggregate
conv.
Securities Included in 56 Registration Statements That Became
Fully Effeciive During August, 1936
Types of New
Debentures represented 37.5%
each),
$50,000,000
of
of the gross registrations during August
(largely because of the two General Motors Acceptance Corp. issues
1936
This
and
secured
represented 16.0%, so that
of the month's total.
1935.
bonds
bearing securities aggregated 53.5%
fixed-interest
with 63.6%
compares
Common stock issues
in July,
1936, and 76.0% in August,
amounted to 32.4% of the month's total; preferred
12.5%, and certificates of participation, beneficial interest,
stock issues to
1.6%.
and warrants to
testify concerning the
called before the Commission to
was
and a selling agency
Bank—the Shawmut Bank Invest¬
Trust, Shawmut Assn. and Shawmut Corp.
sponsored by the National Shawmut
ment
From
Asked
York
Washington dispatch Oct. 7 to the New
take the following :
a
"Times"
we
about
the
in six banks in the Boston area
controlling interest
National
Bank and the
Lexington Trust Co., Mr. Carroll replied that these interests had been
acquired after a survey of the properties.
The records disclosed, he con¬
tinued, that almost without exception these banks each year showed an
increase in capital and surplus, that earnings had increased, that larger
dividends were paid, and that "it was felt that the investment in these
banks was sound and would yield a fair return to the trust."
No loss re¬
acquired
by
Assn.,
Shawmut
the
them the Needham
among
Bank, the Hingham Trust Co., the Winchester National
$13,000,000.
offering of
Mr. Carroll
organization and activities of two investment trusts
the month were: General Motors Acceptance
effective during
2295
Chronicle
sulted from these deals.
Ernest R. Kittredge, treasurer of the General Capital
Corporation of Boston, was heard by the Commission on
Oct. 8.
The "Times" Washington advices of that date said
in part:
Per Cent of
No.
Issues
Type of Security
Total
The trust,
Gross
No. of
Units
of
Amount
July
Aug.
Aug.
incorporated
1935
the Capital
1936
1936
$92,749,674
32.4
23.1
35,728,188
12.5
4.2
9.7
6
7,707,173
4,660,000
1.6
9.1
4.5
45,633,748
107,250,000
16.0
47.1
40.2
37.5
15.9
35.8
the Investment Management, and
as
9.8
16
10,679,251
2,808,402
private trust fund, was
subsequently became
Trust Management, Inc., which is today the managing unit
which Mr. Kittredge described as a
of the General Capital
Common stock.:
46
Preferred stock
participation,
of
Certificates
beneficial Int., warrants, &c.
Secured bonds
7
Debentures.
4
_
0.6
Short-term notes..
5286,021,610 100.0
79
the
100.0
100.0
the SEC revealed, four
statements covering five issues were registered in connection
with contemplated exchanges of registrants' securities for
their own or their predecessors' securities, and in connection
with the issuance of certificates of deposit and voting trust
certificates.
These registered statements covered securities
having an approximate market value of $3,483,391. There
also became effective two statements which registered the
to
In
shareholders
issues,
new
of two individuals on a $150,000 bond issue.
presented the following compilation:
guarantees
The Commission
TYPES
THE
SECURITIES
OF
STATEMENTS
FOR
BECAME
WHICH
INCLUDED
IN
REORGANIZATION
FULLY
EFFECTIVE
REGISTRATION
FOUR
EXCHANGE*
AND
DURING
ISSUES
AUGUST,
1936
the will of the
permit
opportunity to turn in their stock for their liquidating
type—the stock being redeemable only at
1934,
an
It thus became an open end trust.
$25,151
July 1936
Certificate of
630,667
1
"372",225
Voting trust certificates
2
5
$3,483,391
1,188",667
mestic
$6,319,778
$2,625,868
where market
a
was not
Repre¬
available.
Investment
Companies.
Carroll of National Shawmut Bank
Respecting Operations of Trusts.
bank
of investment trusts and investment
companies said:
Investment Trust, Boston, Mass., on Oct.
ton, Mass.,
Oct.
on
Bank
7; General Capital Corp., Bos-
8; and Vick Financial Corp., Jersey City, N. J., on
On Oct.
13,
a
public examination will be held on Mayflower Associates,
Inc., New York, N.
Y., and on Oct.
fixed trusts and management companies
York
City.
The Calvin Bullock fixed trust
Securities Co.,
Electric Light
B.
The
includes Nation-Wide
United States
& Power Shares, Inc., trust certificates series A and series
Calvin
& General
group
trust certificates series A and series B; and
Bullock
management
company
group
includes
Carriers
had
good sales again last month,
high
a
assure
stocks
yarn
Trade increases have kept pace with the
The buying power is coming from the
increased industrial employment, the larger farm income, the government
disbursements, and greater dividend payments by the industries.
There
production.
Of
factor
in
relief
the
of
outlook for
the
however,
some
the bonus
Industrial
promising.
is
further
as
the
change-over period,
thereto having appeared in our
In reporting the testimony
be
purpose
acquiring bank stocks should not be prevented from ex¬
ercising control over the policies of banks under its control.
From the same advices we also quote in part as follows:
Mr. Carroll said, however, he would not
of
a
extend this privilege to trusts
general character whose portfolios are not limited to bank securities.
He also said that he
would compel
was
against promulgation of a hard and fast rule that
complete segregation of commercial
banks and trust com¬
panies and because much depends upon the type of trust under control of
the bank.
vision
is
under
strict
already provided,
supervision,
he stated.
he
added,
Since
there is
commercial banks also are
no
an
reason
to require
advantage to the trust to have its affairs managed by
grade bank," he declared.
1937
on
least
as
many
their
a
high
cars
may
by
trial
due
to
last
Outlook
Promising
September
closed,
season
But
the
and with
last
as
industries.
Evidently,
and the secondary
in addition to those
operations
automobile
the industry is
and
now
de¬
in the
few companies having yet reachel volume opera¬
with
steel
manufacturers,
supported
equal
still unexpended,
quarter in the industries,
trend
year,
rolling
automobile
during
dealers' stocks
automobile manufacturers
the
up,
is
During
1936
models.
upward!,
steadily
expect
and
The
many
effects
will
models well cleaned
and
sell
this
fall
at
Parts and accessory
more.
other
on
two months
next
make
to
and probably
mills,
buying.
the
of 1936
the
industries
general
will
be
situation
be as helpful as in the final quarter of last year, when total indus¬
production reached the highest point of the recovery, to that time,
to
the
automobile
American
activitv.
System Responsible for World's Greatest
Progress,
Bank
Asserts—Survey
Says
Material
Controls 40% of World's Wealth
Population—Criticizes Those Who
Would Consolidate Our Gains by Regimentation
United
with
States
7%
of
American
material
divorcement from the trusts.
"It is
tions
The
Supervision is Outlined
If the trust acquires a controlling interest in other banks, careful super¬
the consumer goods
money
for the fourth
The outlook
substantially
being felt.
effects, at any rate, are still
clined
fall off
of these sources will
continue
of the bonus payments, which have been a
activity, will gradually wear off.
This is the chief
trade
uncertainty in
Previous hearings by the Commission have been referred
to heretofore in these columns, two items with reference
of
income from any
expenditures
the effect
course,
mentioned,
stating that investment trusts formed for the chief
.
...
Government
year.
.
.
fear that the
great
no
materially.
Ltd.; and Bullock Fund, Ltd., including its predecessors, Bullock Fund,
New York "Journal of Commerce" indicated Mr. Carroll as
far that stocks are accumu¬
thus
indications
hands.
distributors'
in
increase
Corp.; Nation-Wide Securities Co.; United States Electric Light
issue of Oct. 3, page 2139.
before the Commission on
Oct. 7, of Frederick A. Carroll, Trust officer of the National
Shawmut Bank of Boston the Washington advices to the
enough to
new
a
few
are
well
Shoe business has held up
high production record.
short.
are
there
Moreover,
& Power Shares, Inc.; Dividend Shares, Inc.; Canadian Investment Fund,
Ltd. and International Superpower Corp.
the market being stimu¬
of operations
rate
will set
1936
that
assure
14, inquiry will commence on the
sponsored by Calvin Bullock, New
In part,
the cotton crop estimate, and their unfilled
into the winter.
Rayon manu¬
facturers, operating at capacity, are hard driven to supply their customers,
orders
is
Oct. 9.
filled."
well
are
by a sharp reduction in
lating in
Public inquiry will be held on Shawmut Associates and Shawmut
books
order
continues:
mills
Cotton
lated
and
The Securities and Exchange Commission announcing on
Oct. 5 the resumption on Oct. 7 of the public examinations
record,
on
but manufacturers'
S. E. C. Resumes Hearings Incident to Examination of
Views of F. A.
New York, "do¬
reports
operating at high rates, in some cases the
and the speed of the improvement
naturally inspires some doubt as to how long it can last;
highest
the
and
Promising
have continued decidedly of a
inspire confidence for the remainder of the year."
goes on to say that "the industries making con¬
business
bank
The
Industrial
Finds
York
New
of
Bank
City
sumers' goods are
Refers to securities to be issued In exchange for existing securities,
sents actual market value or one-third of face value
stock in 1935 amounted to 19,000
.
+
Outlook for Fourth Quarter
nature to
1,824" 507
2,746,666
Trusts
..
According to the National City Bank of
"204" 167
1,029,159
Short-term notes
Investment
'.
National
392,933
Certificates of deposit.
*
of liquidations over sales of
excess
$1,233" 03 4
675,000
"339",349
1
Debentures
Total
excessive
as
shares.
participation, beneficial
interest, &c
Secured bonds
regarded
not
were
August 1935
$1,767,512
Preferred stocK
Although the liquidations which
by trust officials, the witness
opportunity to get out of the trust.
an
-
1
Mr. Kittredge
dissatisfaction upon the part of
was not
of
issues August 1936
Common stock
behind this change in the charter,
stockholders toward manage¬
ment policies, but to the fact what the Capital Managers' Corp., which
managed the trust's affairs, insisted upon a new contract which would
net it a profit from the services it performed for the trust.
A new contract was drawn up, he said, entitling the Managers' Corp.
to a fee of one-eighth of 1%, payable annually, of the current net asset
value of the trust's holdings.
Previously ths Managers' Corp. was to
receive remuneration only when earnings of the trust exceeded 6%.
Mr. Kittredge said that it was then that it decided that trust should
be transformed into an open end type in order that those stockholders of
the trust who did not desire that the new contract be made might have
said,
followed
a
the charter was amended so as to
however,
The compelling reason
said,
Approximate Market Value
No.
Type of Security
the witness testified, it was
At the time of the formation of the trust,
of a "closed end"
value at any time.
addition
In
the Washington account
Oct. 8 to the "Journal of Commerce."
directors.
Total
Corp.
We also take the following from
progress
economic
system
has resulted
in
greater
than has been enjoyed by any other Na¬
tion, the
First National Bank of Boston said in its "New
England
Letter"
dated
Sept.
30.
The
bank
pointed
out
that with less than
7% of the world's population, the United
States controls about 40% of the world's wealth, while the
average
working week has been reduced from GO hours in
Financial
2296
1900 to about 40 at present.
Chronicle
Sept. 30, 1935 was referred to in our issue of Oct. 5, 1935,
2200.
At the eighty-third annual meeting of the Clearing House
Association, held Oct. 6, to which the manager's report was
submitted, Albert A. Tilney, Chairman of the Board of
the Bankers Trust Co., was reelected President for a second
term; the following were also reelected for the year ending
Oct. 5, 1937: Henry C. Stevens, Vice-President of the
Guaranty Trust Co., Secretary; Clarence E.Bacon, Manager;
Edward L. Beck, Assistant Manager, and Charles A. Hanna,
result of machine use, the
is now required for
an increased volume of
output.
"Despite its defects," the
survey continued, "the present system in the United States
is by far the best ever devised for increasing its material
welfare of the people and at the same time providing inbank
said,
As
a
less human energy
much
hours of leisure for the
creased
page
enjoyment of the fruits of
labor."
The analysis, continued, in part:
benefits
The
During
for
so
past
closely
very
in
greater
a
in
went
to
share
of each
Not
only
but
world
worker
87%
1929
by 50%
the
entire world
the
is
41 cents, according
and now represents
have set aside substantial
are
more than
41,000,000
is
that
ordinary
Commercial Nat'l Bank
Fifth Avenue Bank.
proportionate stake
with
the
.
70%
the
of
States.
addition
In
to the foregoing,
the preservation of
in
owners
to tile
by
the
the past
end
our
been
would
to
heard
and divide
water
news
working
the
we
supply
froim
every
up
of
onr
should
Conference
The
depression
12
this
If
use
the old
oaken
hours
and
crier
town
does
bucket,
in
eke out
day to
a
philosophy
an
bare
a
by candle light,
read
log
a
while
cabin,
subsistence.
we
Arbitration
on
Admissions:
Committee:'
Henry
P.
i
be
world where r
System Exempt
State
Laws
n >r
>
A
from the
ruling by the Internal Revenue Bureau
State
member
from
AYPT-rmt
banks
flip 1qyp«
of
nf +Lp
Federal
the
QQ A
on
Op!
UCt.
of
or
7
/
flip
tne
tn
to
Bureau s rilling as
"NJpw
JN6W
Vnrlixork
decreased to 384 from 401.
was
a
State
or
on
flip
tne
Total transactions since organization of
to
State non-member
a
means
Reserve
as
702,239,713,650.87
$8,385,973,830,826.73
Largest transactions on any one day during the year (Mar. 17,1936)
1,827,453,284.55
Smallest exchanges on any one day during the year (Aug. 24, 1936)
Smallest balances on any one day during the year (April 11,1936)..
220,697,654.92
45,447,254.31
Smallest transactions on any one day during the
'
275,790,641.80
are
created to act
as
of exercising its functions.
System, the question
of
235SSSfoS'so.1SSIM:™
Transactions of the Federal Reserve Bank of New York:
Debit exchanges
State agencies
The Michigan
Credit
as
to whether it is
an
the
United
States,
were
Federal
instrumentality of the
0
that National Banks, as
not
subject
to the old-age
and unemployment taxes of the social security tax.
11
rhnnne*
f
ommc/ea in
An amendment to the Act of Dec.
'^hI'oq
bTlances!lI"//AUI.IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 121,414,117,'555.07
iooc
iy/»
-
The Association is now composed of 5 National banks, 2 State banks
ant* 12 trust companies. The Federal Reserve Bank of New York, and
^he Clearing House City Collection Department also make exchanges at
I1*16 clearing House, making 21 institutions clearing direct.
There are three banks and trust companies not members of the Association that make their exchanges through members, in accordance with constitutional provisions.
There are 384 branches of members whose items are cleared through the
exchanges, making a total 408 banks, trust companies and branches using
23, 1913, adopted on May 7, 1928,
facilities of the Clearing House,
placed member banks of the Federal Reserve System in the class of instrumentalities of the United States.
and the
They
Secretary
were
of the
designated
Treasury
was
as
authorized to
Yearly Figures of New York Clearing House Association
A. A. Tilney Reelected President—W. S. Gray Jr.
House
J.
H.
Perkins
Committee
as
Chairman
Transactions
of
The
third
Clearing
During
Ended Sept. 30 Totaled $212,753,318,851
with $197,327,330,080 Year Ago
Year
Compared
consecutive
year-to-year increase in Clearing
in the annual report of the
Manager of the New York Clearing House, for the year ended
House
transactions
is
shown
Sept. 30, 1936, which lists total transactions during the year
$212,753,318,851, as compared with $197,327,330,080
during the year ended Sept. 30, 1935.
The transactions
during the latest year were made up of $186,490,263,783 of
exchanges and $26,263,055,067 Of balances; the previous
year's total consisted of exchanges of $174,415,218,849 and
balances of $22,911,551,231.
The report for the year ended
at
^
-
V
depositories
exercise certain supervision.
Succeeds
!—
$4,231,241,175.56
banks, therefore, "are not considered to be instrumen¬
The Bureau previously had issued an opinion
public money,
!
- -
------- - ------------ Total transactions
of acting for such State as
United States is not presented," according to the decision.
of
year(Apr.ll, 1936)
Bal'ancS^."-V."U!!I"IIIII"I"I"""""I-lI"IIIIIII"Il'3,378,'201,06lio8
political subdivision thereof is whether it
the Michigan State Bank is not a member of the
instrumentalities
$7,683,734,117,175.86
Largest exchanges on any one day during the year■ (Mar 17,,1936).SI,600,751,323.58
Largest balances on any one day during the year (Mar. 17, 1936)..
226,701,960.97
talities of the State."
"Inasmuch
Clearing House (83 years):
Totai.
explained that the general Banking Laws of Michigan do not
afford the State
$702,156,167.81
Balances
determining whether the organization is an
a
provide that banks organized thereunder
or
86,676,749.39
—-
Exchanges
Vr/tliat
rm
$615,479,418.42
-
Total.
tSSSTeiecutionthepowersofthestate"theInternal
was
26,263,055,067.47
$212,753,318,850.93
Largest day's transactions on record, Oct. 31, 1929.
created for the purpose, in part at least,
It
$186,490,263,783.46
-
Balances
dispatch
nemmpntpd
commented
Ex-
the year have been as follows:
Exchanges.
follows:
'The test to be applied in
instrumentality of
A Washington
"Tirnp«"
limes
at-
The average daily transactions:
Reserve
oimilar-<rpminda
rm
*
Total transactions
exempt trom tne taxes OI tne boA on Similar grounds tO;tnat
accorded to member State banks.
the
of
President
Manager's report follow:
Balances
Oct. 7 held
System
are exempt under certain conditions from the unemployment
and old-age pension taxes imposed by the Social
Security
Act.
Such banks, the Bureau ruled, "are instrumentalities
of the United States," and are therefore entitled to exemption. When State laws, however, provide for no State functions of non-member banks, neither the banks nor their
employees are exempt. National banks were previously ruled
that
j.
Exchanges
Permit
—Ruling By Internal Revenue Bureau
.
Vice-President
Turnbull,
According to the Manager s report tor the year ended
Sept. 30, 1936, the number of member institutions in the
Association remained unchanged at 21, while the number
of branches of members
SSA Where
of
H. Donald Campbell, Presi-
Sherer, President of the Corn
Dunham B.
The Clearing House transactions for
Provisions
Irving
0f the Title Guarantee & Trust Co
tracts
from
Marine
Stewart Baker, Chairman of the Board of
Manhattan Co., succeeding
our
would be
-
State Bank Members of Federal Reserve
the
Central Hanover Bank & Trust Co., succeeding GeorgeMcAneny,
our
Life would
today in most parts of the
or
of the Firgt Nati0nai Bank
early
get
President
Blaine,
G.
Exchange Bank Trust Co., succeeding Alexander C. Nagle. Vice-President
prevail.
not
follows*
Commlttee: James
^
committee
defeat
But this
adopted
^
denfc Qf th0 Chag0 National Bank
inevitable retreat
been
had
of
cry
country.
«
cG
the Bank
gains
the oxcart for transportatinn, obtain
live
drudgery that is
capitalism
same
this
in
system
our
& Trust Co.
nr.
„
succeeding Harry E. Ward. President of the
Trust
have come
we
consolidate
now
as
Nominating Committee: J.
economic
quarters that
some
wealth.
our
major
tyranny.
from
the
monotonous
modern
in
we
would still
and
history
our
held
hoisting the white flag of surrender and
mean
stagnation
in
during
performance
of
that
is
and
progress
regimentation
has
record
amazing
few decades, it
of
elected
American
system along
large corporations and men of wealth.
Despite
-p,
u
^
.
over
m
Chairman of the various other committees of the Association
were
of securi-
economic
our
,,
Corn Exchange Bank Trust Cc*., had also served on the
Clearing House Committee during the past year.
The
it
average
,
Besides Mr. Perkins, Walter EX Fre^ Chairman of the
According
total insurance in force in
roughly estimated that there are more than 10.000,000
in this country.
It is apparent, therefore that the
a
elected).
Theodore Hetzler, President of the
ties
has
Trust Co. (re-
Herbert P. Howell, President of the
amount
income of less than $5,000 a year.
over
Houston, President of the Chemical Bank &
of
is reported!
the
K.
Frank
Of this amount it is estimated that about 60%
an
the United
in
that
Trust Co.
Traphagan, President of the Bank of New York &
(reelected),
all the countries of Europe,
of
than
more
In addition to Mr. Gray, the tOllOWing Were
year.
whose
four times that of the United States.
life insurance is held by 83,000,000
It
country.
of
There
investment.
of
the
Gray had served as a member of the committee.during
John C.
States the highest in the
figures,
is
■
also elected members of the Clearing House Committee On
Oct. 6:
the United
exceeds
with
persons
13%
only
The employee's
industry's products
steel
people in this country
of
in
available
whereas
out
for
the past
in
poiiy holders.
by
latest
paid
S. Gray Jr., President of
Co., was elected Chairman of the Clearing House Committee, succeeding James H.
Perkins, Chairman of the Board of the National City Bank.
For the ensuing year, William
the Central Hanover Bank & Trust
Institute.
$70,000,000,000
held
Examiner.
has
Compensation
increases.
tacome
rates
population
American
classes.
t
dividends and interest.
Steel
forms
depositors
combined
by all
shared
wages
.
the sale of the
since 1900
deposits here
is
the
from
and
masses
savings
to
of
of real
wage
Iron
the
are
savings
Over
trend
production
as
dollar received
various
in
sums
the
American
the
to
been
have
progress
ownership in the form of
increased
ha6
great
decades the
four
to
wage
represented
this
of
corresponded
with increased productivity,
in the long run this must be
land of free enterprise economic forces will dictate an ever
the
Oct. io, 1936
<
Liquidation of 43 Receiverships of National Banks
Completed During September—Total Since Bank¬
ing Holiday of March, 1933, Now 484, Comptroller
of Currency Announces
completion of the liquidation of 43 receiverships of
September, 1936, making a total of
434 receiverships finally closed or restored to solvency since
the so-called banking holiday of March, 1933, was announced
on oe^ 7 by j. f. T. O'Connor, Comptroller of the Currency.
He said that "total disbursements, including offsets allowed,
to depositors and other creditors of these 484 institutions,
exclusive of the 42 receiverships restored to solvency, aggregated $141,762,837, or an average return of 76.31% of total
liabilities, while unsecured depositors received dividends
amounting to an average of 62.08% of their claims." The
Comptroller continued:
National banks during
Excluding from consideration five of the banks for which receivers
were
appointed to collect stock assessments, the depositors having been paid in
full prior to receivership, there remain 38 receiverships terminated.
In
Financial
143
Volume
(and in
depositors
were paid from 75 to 100%; in four they were paid from 50 to 75% ; and in
only seven cases did the depositors receive less than 50%.
these the
unsecured depositors were paid 100% principal in 16 cases
of these, all or a
some
portion of the interest); in 11 cases the
Dividend payments during
September, 1936, by all receivers of insolvent
National banks to the creditors of
all active receiverships aggregated
$3,556,-
137.
Dividend payments to the creditors of
all active receiverships since the
the 43 National banks the liquidation of
completed during September:
The following are
which
were
finance, banking and credit exten¬
Statistics on credit expansion, he said, are
inadequate, and although loans by Reserve member banks
indicated
little credit
expansion, there are insufficient
'Similar data regarding the lendings of other institutions,
including finance companies.
The extent of the recent de¬
pression, he declared, was due, in part at least, to faulty
institutions dealing with
sion
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF SEPT.,
1936 '
In
Such
and
Per Cent
bursements
Total
Dlvidercds
Including
Returns
Paid
Offsets
to All
Unsecured
Allowed
Date
of
Creditors
Claimants
Failure
of
belief
Bank ol Hudson, Hudson,
100.068
unnecessarily wide swings of the economic pendulum.
the extent of the recent depression was due, at
15447,356
106.51
1-11-32
169,922
106.51
109.53
obvious
3-23-34
422,351
125,197
107.27
109.6
the
12-21-33
106.42
108.
Burgettstown,
Peoples Nat. Bk. of
part,
My own
least in
that
is
3- 1-34
Wis
cannot
business
arrangements
continue to suffer as it has so often in the
country will
the
banking
and
financial
fiscal,
and
flourish
but to all business men,
the credit structure of the country, and without
is based on
business
satisfactory
past from
The Nat.
the chips fall where they may.
interest not merely to bankers,
let
be
for
be made without fear
This is something which
humanly possible such a study should
as
favor;
should
Per Cent
but both sides should be represented,
only of practical men,
not
far
as
composed by no means only of theorists
he
should
commission
a
also
and
to study
appointment of a commission
Mr. Lichtenstein said:
the
urging
banking problems,
or
Total Dis¬
generally.
banking structure.
March, 1933, aggregated $739,498,353.
banking holiday of
2297
Chronicle
faulty banking structure, and unless something is done
that the next depression will find the country in more or
to
a
it is
3-
1-34
289,267
104.62
109.6628
First Nat. Bank,
2-
1-33
104.70
106.
First Nat. Bk.
4- 9-34
281,243
374,372
28,416
less
interested and: familiar with
the problems will again be faced with the fact that their knowledge and
views are purely empirical and not based upon studies and investigations
undertaken at a time when the seas are calm and people, therefore, able
104.68
108.443
to
Pa
Mayville, Wis. *.
First Nat. Bank, Summerfield, O.*
First Nat. Bank in Webster Groves,
First Nat. Bank,
Mo.
*
Roodhouse, 111—
Fayetteville, Tenn.*
First Nat. Bk. of Brockway, Pa. x
The Nat. Bank of Snow Hill, Snow
Hill, N. C
First Nat. Bank in Brockway, Pa.x
First Nat. Bank, Ralls, Texas
Dawson City Nat.Bk., Dawson,Ga.
So. Ashland Nat. Bk.,Chicago, 111.
First Nat.Bk..Farnhamville, Iowa*
Snell Nat.Bk.,Winter Haven, Fla.x
Exch. Nat. Bank, Spokane, WashFirst Nat. Bank, Manistee, Mich.*
First Nat. Bank, Maquon, 111
Harveysburg Nat. Bank, Harveysburg, Ohio *
City Nat. Bank, Sumter, S. C. x__
Secur. Nat. Bk., Mobridge, S. Dak.
First Nat. Bank, Buffalo Center,
Iowa
2-11-32
1-11-32
86,987
70.88
703,016
100.69
1- 6-31
91.62
103.88
100.83
105.309
7-28-33
184,790
104:73
107.95
9.5975
108,206
79.30
1-18-29
8,983,623
101.67
102.833
680,362
103.92
110.538
161,667
101.31
101.48
10-125-33
78,804
104.51
108.206
7-21-32
223,320
9-11-31
143,117
75.05
27.38
1-20-33
82,118
89.02
84.15
333,366
78.93
67.15
Falls, Iowa..
Bank, New Bedford,
1-31
99,910
102.61
228,170
85.89
-
115,520
8,516
106.01
Versailles, Mo. x_,
Bradford, Ohio *.
of Milton, Iowa
First Nat. Bk., Juhction City, Ark.
First Nat. Bank, Millsboro, Pa....
Walthill Nat. Bk., Walthill, Neb..
First Nat. Bank, Elba, Ala
First Nat. Bank, Coin, Iowa
First Nat. Bank, Carlsbad, Calif-.
11-15-33
2-15-33
Iowa.
6-28-32
First Nat. Bank,
18.30
—
—
5-
1-34
485,413
104.27
86.44
83.98
10- 6-31
72,541
280,803
91,708
67,523
209,992
9- 8-31
Bank
Nat.
Farmers
&
82.08
64.6
56.37
83,820
71.37
63.8
expressed
88,548
87.58
79.75
e.g.,
170,193
81.15
70.95
577,213
64.20
38.18
1- 4-33
84,204
82.24
30.
40.88
25.975
Englewood, Kan.
First Nat. Bank, Bishopville, S. C.
Citizens Nat. Bank, Albert Lea,
Minn
1-18-30
2-18-27
777,919
81.98
First
*
and
181,751
50.20
41.41
161,448
409,092
97.66
96.48
92.59
87.72
6-27-32
x
Receiver
in
by
trust
or
$200,000 of 4)4,% Bonds of Fletcher Joint Stock Land
Bank, Indianapolis, Called for Payment Nov. 1
will
prices
to
than
the
Joint Stock Land
for payment
43^% bonds
according to
Oct. 2 by William B.
Payment in cash for
1,
1936, Mr.
Schiltges said, and there will be no arrangements available
the securities will be exchnageable into other
bonds.
This new call by the Fletcher Joint Stock Land
Bank brings the total amount of bonds payable on Nov. 1
to $2,613,600.
The announcement continued:
under which
called
bonds of six issues for cash payment or exchange as of Nov. 1.
The ex¬
change privileges on all these bonds have now expired.
The bonds to be
paid Nov. 1 are those from the various called series for which exchanges
made by the joint stock bank have
Announcements previously
were
not
Beside the $200,000 of Nov.
effected.
1 will include called bonds from
ments Nov.
1956-36, and Nov.
Nov. 1. 1955-35; May 1,
'
1, 1956-36.
Approximately 18 months
Bank began a
1, 1917 bonds, the pay¬
the following six entire issues;
May 1, 1954-34; Nov. 1, 1954-34; May 1, 1955-35;
program
of interest
outstanding series of bonds bearing
in like amounts bonds bearing
,
Land
rate reduction through the calling of
5^, 5 and 4h% interest and issuing
officials of the Fletcher Joint Stock
ago,
old bonds bearing the higher interest
all
rates availed themselves of
the bank's
exchange offer and accepted the new lower rate bonds.
to
Study
Banking
Structure Advocated
Was
Oct.
on
soon
possible
as
shall
14,
branches
or
thereof
up
probably
thereafter,
the
on
of
purposes
the
of
acceptance
or
and
estate
as
to principal
inheritance
(Attention
taxes.
ruling that Treasury bills
as
a
tax now
and
and interest,
any
disposition thereof will also be exempt, from
other
or
allowed
any
advised
be
1936.
No loss from
be
will
tenders
bills will be exempt,
except
tax.)
is
invited
from
not exempt
are
the sale or other disposition of the Treasury
deduction, or otherwise recognized, for the
hereafter
or
imposed by
the
United'
States or
of its possessions.
any
Treasury
pvescribe
their
Circular
Department
the
terms
No.
418,
Treasury
the
of
bills
as
amended,
and
and
the
govern
this
notice
conditions
of
issue.
$175,240,000 Tendered to Offering of $50,000,000 of
273-Day Treasury Bills Dated Oct. 7—$50,045,000
Accepted at Average Rate of About 0.162%
Of
tenders totaling $175,240,000 received to the offering
$50,000,000, or thereabouts, of 273-day Treasury bills,
dated Oct. 7, 1936, maturing July 7, 1937, Secretary of the
Treasury Henry Morgenthau Jr. announced on Oct. 5 that
of
$50,045,000
which
was
received
accepted.
were
referred to in
the
at
The
Federal
tenders
issue of Oct.
our
Reserve
banks
to
3,
the
page
and
offering,
2142,
the
were
branches
thereof up to
The
2 p. m., Eastern Standard Time, Oct. 5.
Secretary of the Treasury had the following to
in his announcement
for
Except
by Walter Lichtenstein—Says Unstable System
Partly Responsible for Severity of Depression
banks
Payment at the price offered for Treasury bills allotted
Federal Reserve banks in cash or other immediately
the sale
taxation,
99.886,
Commission
Reserve
the
Treasury Decision 4550,
the gift
Many owners of the
lower rates of interest.
incorporated
Secretary of the Treasury expressly reserves the
all tenders or parts of tenders, and to allot less
applied for, and his action in any such respect shall be
at
funds
from
gain
bills
of Nov.
deposit
accompanied by a
of payment by an
The
submitting
be made
The Treasury
announcement made in
as
must be
guaranty
Federal
follow as
amount
available
to
made
places,
reject any or
Those
final.
Bank, Indianapolis, Ind., has voted to call
$200,000 of Fletcher Joint Stock Land Bank
dated Nov. 1, 1917 and due Nov. 1, 1937,
will be
be
must
closing hour will be opened and public announcement of the accept¬
right
must
the
received at
tenders
the
able
rejection thereof.
bonds
offered
company.
+.
the called
others
from
express
an
following morning.
A report as to the liquidation of National banks completed
during August was given in our issue of Sept. 12, page 1643*
Indianapolis on
Schiltges, President of the institution.
Each
considered.
100, with not more than three decimal
Tenders
securities.
accompanied
all
^
The executive committee of the Fletcher
be
price
The
Immediately after the closing hour for receipt of tenders on Oct. 9, 1936,
to
appointed to levy and collect stock assessment covering deficiency
complete unfinished liquidation.
$1,000.
and from responsible and recognized dealers in invest¬
trust companies
bank
Formerly in conservatorship.
value of assets sold, or to
of
10% of the face amount of Treasury bills applied for, unless the tenders
of
78.49
2-15-33
multiples
the basis of
on
than
less
Fractions must not be used.
Tenders will be accepted without cash deposit from incorporated banks
ment
11- 3-33
—
Suer, Minn...
Nat. Bank, Exira, Iowa
Nat. Bank, Mesa, Ariz
amount
an
in
99.125.
are
First Nat. Bank, Le
Flrst
232,973
for
be
must
"
$1,000 will
-
12.6
First Nat. Bank,
and in amounts or
$1,000, $10,000, $100,000, $500,000, and $1,000,000 (ma¬
■
tender
No
tender
in
Luverne, Minn
of
turity value).
95.14
94.73
74.46
7-20-31
interest.
amount of
in
(the bills) will be issued in bearer form only,
They
denominations
85.39
4-28-31
14
Morgenthau said:
3-23-31
First Nat. Bank, Thompson,
First
12- 3-30
Oct.
on
inviting the tenders on Oct. 6, Secretary of the Treas¬
In
ury
109.04
6-25-32
bills
of
maturity
a
$50,050,000.
18.0654-
First Nat. Bank.
is
There
108.08
The First Nat. Bk.
maturity
1936, and will mature on July 14, 1937, and on the
the face amount will be payable without
Whiteland,
Ind. *
Oct. 6 by Henry Morgenthau
on
date
82.17
10- 3-33
Bank, Kansas, 111
The offering was an¬
Jr., Secretary of
the Treasury.
The Treasury bills, which were sold on a
discount basis to the highest bidders, will be dated Oct. 14,
(Oct. 9).
Time, yesterday
Standard
97.25
12-17-30
10-
111
Whiteland Nat. Bank,
273-day Treasury bills were received at the Federal Re¬
serve banks and the branches thereof up to 2 p. m., Eastern
nounced
49.64715
100.
$50,000,000, or thereabouts,
Tenders to a new offering of
of
79.30381
1-19-33
7- 7-32
New Offering
88.1
12-12-33
8-14-29
sanely and carefully.
of $50,000,000, or Thereabouts, of 273-Day
Treasury Bills—To Be Dated Oct. 14, 1936
118.17
6-27-32
84,652
498,548
116,495
11-14-32
State Nat. Bk., Iowa
Kansas Nat.
41.2
act
27.6274
2-11-32
—
Farmers Nat.
27.62
bankers and others
situation, and
same
equivalent to
Only
part
average
rate
is
bid
one
equivalent
a
of
$5,000,
a
rate
the accepted bids ranged in price from
about 0.150% per annum, to
99.873,
of
rate of about 0.167%
of the
price
to
of
bid
amount
Treasury
about 0.162%
per
say
of Oct. 5 regarding the accepted bids:
for
bills
to
annum
per
the
at
on
be
a
annum
latter
issued
is
on
a
price
bank discount basis.
was
99.877,
accepted.
and
the
The
average
bank discount basis.
of the United
impartial, competent
The entire financial and banking structure
States
body
First
should
of
men,
he
investigated
Walter
National
Bank
by
an
Lichtenstein, Vice-President of the
Chicago, said on Sept. 25 in an
address before the Commonwealth Club of California at
Mr.
Francisco.
never
until
reach
we
a
Lichtenstein
satisfactory
correlate
as
Gold
far
said
that
we
will
solution of our credit problems
as
possible the functions of
The
San
probably
all
Receipts
by
Mints
Week Ended Oct.
of
of
gold
and Assay Offices During
2—Imports Totaled $57,570,455
Treasury Rnnounced on Oct. 5 that $60,103,833.47
was received during the week ended Oct. 2 by the
various
amount
mints
and
offices.
It stated that of this
represented imports, $327,857.41
assay
$57,570,455.00
y
It
secondary and $2,205,521.06 new domestic gold. According
to the Treasury the gold was received as follows by the
various mints and assay offices during the week ended
BY THE MINTS AND
GOLD
OF
ASSAY OFFICES
.
New Domestic
Secondary
Imports
$13,714.79
$129,257.81
New York
112,700.00
San Francisco
Denver
151,200.00
740,583.68
694,711.56
36,504.10
16,736.59
22,731.23
9,927.68
$57,570,455.00
Total for week ended Oct. 2
Under
$2,205,521.06
Seattle
639.45fin4
it
was
in
fe^d amount
Oct.
b
H2
to
976,038gS0
o'unefs,
fine
said
9,193 )
2,1936:
Queens Midto
mechanical
Denver
The
-
-
^
639.45
Total for week ended Oct. 2, 1936
yia£
the
slipped off
of
Silver amounting to 1,237,494.76 fine ounces, punched
ky the Treasury in accordance with the President's proclamation of Dec. 21, 1933 (which authorized the Ireasury Department to absorb at least 24,421,410 fine ounces of newly
mined silver annually) was turned over to the various mints
during the week ended Oct. 2. A statement issued by the
Treasury on Oct. 5 indicated that the total receipts from
the time of the issuance of the proclamation and up to
Oct. 2 were 104,875,605.03 fine ounces.
Reference to the
President's proclamation was made in our issue of Dec. 31,
1933, page 4441.
Below is the statement issued Oct. 5,
W
ireasury ueparimeni/.
i>ne
oy
k*
Dennrtment-
Trefl«nrv
thfi
RECEIPTS OF SILVER BY THE MINTS AND ASSAY
(Under Executive Proclamation of Dec. 21, 1933 as
OFFICES
Fine Ounces
980,694.62
Philadelphia
249,329.73
7,470.41
San Francisco
Denver
Total for week ended Oct. 2,1936
The
1,237,494.76
+
104,875,605.03
1936.
Total receipts through Oct. 2,
during
jeek
these columns Oct. 3, page 2143.
receipts of newly-mined silver
Sept. 26
noted
were
in
ended
President'Roosevelt, if Reelected, May Ask for Further
if he is reelected, will probably ask
President Roosevelt,
of his emergency powers to devalue
by remarks at the President's
Congress for renewal
the
dollar, it was indicated
conference
press
Reports said that the President
Oct. 6.
on
apparently not contemplating further devaluation under
is
His present authority for deWhen Mr. Roosevelt
was asked at his press conference whether
he would seek
continuance of authority to devalue the dollar, he
said
that the question was premature.
He also described as
existing conditions, however.
valuation will
hypothetical
expire
Jan. 30, 1937.
on
question
another
as
whether
to
United
the
States could continue to utilize the stabilization fund under
devaluation
the
to the
The
be
From the Washington account, Oct. 6,
"Herald Tribune," we take the following
New York
with regard to
his
authorization until Great Britain returned
gold standard.
to the
President
devalue
to
power
the President's press conference:
refused
premature.
make
to
a
direct
statement
He said that
the dollar.
any
on
continuation
of
such comment would
Shortly afterward, in response to a question at his press
he gave an obvious implication of belief that the
however,
conference,
which expire on Jan. 30, should be continued,
In an apparent desire to offset fears of prospective changes in the gold
content of the dollar, the President implied that the emergency authority
powers,
be
would
by
sion,
used
only in
which
the
unexpected world economic convul-
of an
case
international
currencies
would
he
thrown
out
adjust-
of
Gives
has
President
pointed
out
always been protection
might
making
was
good political
a
were
a
growth
"amazing
enjoy doing so.
54 years of his own
him
private citizen he would
in the
Queens"
of
Roosevelt said he was "proud of the privilege" accorded
-
to
Washington,
$5,000,000
'There goes
to help because
time I said to myself,
and each
But I
$10,000,000.'
or
was
proud
everything that was initiated was a useful project.
There were yearn
when the interest rates were so high and there was such a noticeable lack
®fortke^work that wo fcU beMnd in carryi"s forward tbrae needcd pub,ic
wo^e
idea
of
transportation
extent
the
facilities
was
of
Fcdwa,
the
given
by
investment
Harold L.
in
New
York,s
Ickes, Secretary of the
Interior and Public Works Administrator, who said the present Administration, instead of being content to "peer around corners," bad "looked
ahead."
Idea Reviews Aid Here
in Ms address he said:
"Forty-four million, two hundred thousand dollars for the Triborough
Bridge; $17,080,000 for the Midtown Hudson Tunnel; $25,350,000 for the
raunicipally-owned subway system and now $58,S65,000 for the East
River Vehicular Tunnel, or a total of approximately $145,000,000 by way
of the interest of the
Administration, in problems vital
to the metropolitan area of New York, as well as proof of its desire to
gjve Work to the unemployed through the construction of worth-while
loans
of
and
,
endurins?
is rather
grants,
through
convincing evidence
the Public
Works
nroiects
ana enaurinS Projects.
President Roosevelt Opens Western Campaign at
Dubuque Iowa
A 10.day cam„aien tour o£
(Ot 9)
the' West was onened vesterdav
by President Roosevelt at Dubuque, Iowa.
The
President, who left Washington on Oct. 8, lias listed among
his major speeches during his trip, one at Omaha, Neb., toa
Chicago address
Oct., 14 and a Detroit speech Oct. 15. About a dozen States
will be visited, and besides the scheduled addresses there
will be a number of rear-platform talks. Speaking from
^ie rear-end of his train yesterday, at Dubuque, the
President asserted that in an oration given at funeral services several months ago for Senator Murphy of Dubuque,
Iowa, who was killed in an automobile accident, there was
a great moral lesson pointing the direction which our
country must needs go." The President quoted at length
from the tribute given by Father Sheehy, which included a
statement that drastic measures" were necessary to meet
social problems when Senator Murphy took office, and while
some of those measures may have been unwise, the Senator
couldnt stand idly by and do nothing." Associated Press
advices from Dubuque yesterday, in thus reporting the
President, indicated his further remarks as follows:
^ie ®enaI®r» ,^e tribute went on, was determined that
no one should
staive in a land of plenty, and ignored! the "swarming cries of rabblerousers who today make both our hearts and ears ache."
Declaring Senator Murphy was a dose friend of his, the President
asserted he wanted to read Father Sheehy's tribute "instead of talking
Pontics, because these words, while not political, are concerned with
government all over this Nation.
I m out here on what some might consider a political trip," the PresiGrv
' sm, n^;
m trying to Sain a better first-hand information
the needs of the country in the days to come, too."
This information, he added, would be useful to him, "whether I'm
as to
Inent
The
Mayor
the
night (Oct. 10), another at Denver, Oct. 12,
Powers.
Devaluation
Dollar
another
government,
amended)
Week ended Oct. 2, 1936:
hoped
as President in starting and completing a large number of useful public
works in New York.
"Every now and then," he said, "I would hear that your Mayor had
^
—
he
follows in the
him to ride through the completed tunnel as President,
though he
even
lifetime, Mr.
2143 reference was made
during the week ended Sept. 26. |
Newly-Mined Silver, by Mints and Assay
Offices from Treasury Purchases Totaled 1,237,494.76 Fine Ounces During Week Ended Oct. 2
said!
as
of Fed-
3.
of 0ct
„Timeg„
President
Recalling
112,976,038.80
1936
In the "Chronicle" of Oct* 3, page
Receipts
ff
reported
President's address was
guess in inviting
to the silver transferred
kev
SK*
New york
—
Total receipts through Oct. 2,
East
electric
2144
Mayor La Guardia introduced the President, and
the project had been discussed for 15 years before
The
------
-
Sea!ttlerlean8
on
oupnpd construe-
President Roosevelt bad approved an appropriation
eral funds to make the work possible.
-----------------
*
Comments
000,000.
^
Philadelphia—:
Start Construe-
Tunnel under the
0n
page
week ended Oct.
MMtown
tion woik on t l
,
(Under Executive Proclamation of Aug.
net
®
to united states
silver transferred
I ekes
the
aVailaWe
mad6
treasury toiiows.
by tne
$58,000,000 Tunnel
on
nffieiillv
rm
D/vrvedvckH-
nrncirionf
—K
was'
to
power
Projects
Government
during the week ended Oct. 2
tabulation issued by the Treasury
a
Work
Activities—Secretary
tion
ounces
made known in
was
metal,
the
and
the
of
value
Under East River—Presses Key to
under the Execu-
Aug. 9, 1934, nationalizing the
tive Order of
amount of
the
presi<lent Rooseveit Opens
t£n,?rder D^r,n8 Week Ended °ct' 2 Amounted to
639. 5 Fine Ounces
Transfer of silver to the United States
fund
stabilization
the
Act,
the
of
terms
dollar would have expired! on Jan. 30 of this
year if the President had not continued them for one year by executive
proclamation.
On
Jan.
10 the President extended the authority to
Jan. 30, 1937.
This date is the limit for extending the monetary powers
without added authority from Congress.
change
57.51
Under Nationalize-
Silver Transferred to United States
used .to create the present stabiliza¬
of which $2,000,000,000 was
fund.
tion
618,611.28
$327,857.41
New Orleans
the value of the British pound
by the free gold market.!
fixed
000,000,
$357.03
57,221,200.00
297,824.96
37,715.25
Philadelphia
pointed out to the President that
was
10, 1936
Mr. Roosevelt answered that, since this
country controls so much of the world supply of gold we have an influence
on the price
of gold in the free market.
Under authority of the Gold Reserve Act, the President, on Jan. 30,
1934, revalued the dollar downward to 59.06c.
Under terms of the law
he still has the authority to make an additional cut of 9.06c.
By his
action in 1934 the President created a Treasury profit of almost $2,800,is
Oct. 2.
RECEIPTS
Oct.
Chronicle
Financial
2298
be
retained, he
ment emergency powers.
to
prevent
on
the
part
the
of
^
said
that
Reasons
the Administration's primary)
of there should be
domes tie values
These powers,
destruction
another
His
of
nation
m
or
It.order that tins purpose
the hands of the govern-
he further explained,
domestic values
purpose
through
other nations.
are
^^Lt^a 'small
unit
in
the
future of the Nation lieg in the
the conduct of it remains in
future
£ *
j
of
the
and r
country," he said
Worried So
re-
"The
long
as
lonS as
designed
unexpected
action
As the President moved toward the "West, Governor LanRepublican nominee for President, left Topeka 011
don,
Financial
143
Volume
Indiana.
hoard Presi¬
"Times" correspondent on
York
Roosevelt's special train reported on Oct. 8 that the
President's formal speeches as tentatively scheduled are:
dent
Oct.
10—Lincoln, Neb., in afternoon, and
Oct.
Oct.
12—Denver,
Omaha, in evening.
11—Cheyenne, Wyo.
in
Mich.,
Rapids,
15—Grand
Oct.
at night.
Detroit
City, Kan., and Kansas
afternoon, and
*
Oct.
16—Cincinnati
Oct.
17—Buffalo,
in morning and Cleveland
afternoon, and
Albany in evening.
plans to be at his Hyde Park (New York)
Oct. 17.
Mrs. Roosevelt accompanies the President
Roosevelt Proclaims "American Education
Beginning Nov. 9 to Be Devoted
President
Week"—Week
Schools
to
to
Week"
Education
"American
beginning
issued a
Nov. 9 as
urged
observance
President Roosevelt
30,
designating the week
proclamation
$1,000,000 in taxes on
of
Collection
District
industrial payrolls, due today, was
United States
restraining orders handed down by
Kennamer and Circuit Judge Walter B. Jones.
obviously was being cleared for a speedy test of
Judge C. B.
the
While
way
social
in the United States Supreme Court, Alabama indus¬
trialists hurried to the courts to intervene in the suits.
At least 200 companies were seeking to intervene to protect their own
legislation
adjourned his court today at 1:15 p. m.,
Judge Jones
Before
interests.
companies had intervened.
136
Latest
development
Jones handed down the second
when Judge
came
1%
Sept.
of
date
Under
tied up tonight in a welter of litigation as industrialists joined
bring a United! States Supreme Court test of social security
legislation.
security
his trip.
on
unemployment insurance pro¬
of an Alabama
for support
collections
Tax
gram were
enjoined by two separate
The President
home on
"from Montgomery (United Press)
Oct. 5,
advices,
Later
forces
in evening.
Y., in morning, Rochester in early
N.
subject
said, in part:
in evening.
morning, Flint in
Louis in morning and Chicago
14—St.
Oct.
morning, and Kansas
Kan.,
evening.
Mo., in
City,
in morning.
13—Wichita,
Oct.
to provisions of the unemployment compensation law the
contemplated by the complainant.
At the outset of the pro¬
ceeding Mr. Burr drew attention to the possibility that recapture of paid
taxes might be difficult in event the law under which they were collected
should be finally held invalid.
State
protection
in evening.
9—St. Paul,
Oct.
it was the plan of complainants' counsel to drop
original proceeding and return with a broader and more deliberate
attack on the legislation at issue.
Fruition of this plan would have extended to every employer in the
approved by the court,
the
.
New
The
agreement been reached and
this
Had
Court.
Supreme
States
United
Ohio, Michigan and
campaign tour of Illinois,
Oct. 8 for a
2299
Chronicle
and
its
The President took occasion
to cite the improvement which has taken place in the educa¬
tion situation during recent years.
The proclamation fol¬
jnjunction in. Cjrp.uit CourJt.Jere.
The order restrained collection of the
Alabama tax on payrolls from Beeland Mercantile-Co. of Greenville^Ala.
injunctions virtually
The
States
identical with that granted Gulf
were
Gadsden, Ala.
Steel Corp. of
4.
throughout the United States.
lows, in part:
•
»
ideal
American
of
our
national
Massachusetts
enacted
in
factor
•nhool
in
the
is essential
education
versal
ideal which has
householders
50
and
school in
grammar
a
youth so farr as they may be fited
has moved
and
frontier,
the
It
of
an
In the expansion of the Nation the school
time and experience have demonstrated
university."
ye
with
r
township
every
is
town of 100 families, "to instruct
every
for
been a vital
development since 1647, when the General Court of
the historic measure providing for an elementary
It
education.
to
that uni¬
national progress.
that we note
place with respect to the educational
Teaching positions which were eliminated
accordingly, with a feeling of earnest gratification
is,
the United
in
situation
has
which
improvement
taken
States.
being restored and teachers' salaries have
returned
to
pre-depression levels in an encouraging number of school
systems, colleges and universities.
There has been a steady increase in
the attendance of students at elementary schools, high schools and colleges.
during the depression years are
It
is
appropriate, therefore,
particularly
year
flow
that a time be set apart this
widespread and understanding observance of the benefits
a
continuing advancement of the standards of American
for a
from
that
edu¬
Now, therefore, I, Franklin D. Roosevelt,
President of the United States,
Public
Railroad
and
States Supreme Court's
opened on Oct. 5.
During the court's eightterm many pieces of New Deal legislation will be
1936-37
term
month
considered, including the Wagner Labor Relations Act and
the Public Utility Holding Company Act.
Almost 50O cases
of various kinds 'have already been filed for review.
Among
legislation -whose constitu¬
pieces of
other .important
the
tionality will be decided are the amended Frazier-Lemke
Farm Mortgage Moratorium Act and the Railroad Labor
A Washington dispatch
Act.
of Oct. 5 to the "Wall Street
follows:
summarized some of these cases as
Journal"
already docketed with the Supreme
Court, involves a test, of the Public Works Administration's power to loan
and grant Federal
funds for municipal power plant construction.
This
case was
instituted by the Duke Power Co. to block a loan and grant of
national
The
policy
power
case,
C., for construction of a power
$2,500,000 to the County of Greenwood, S.
The lower courts
plant with which to compete with the private company.
that
held
also
It
tional
invaded by the loan and grant.
grant could not be condemned on constitu¬
Co.
right of the Duke
no
che loan and
that
held
cation.
was
grounds.
Company Act Test
Holding
this proclamation designate the week beginning Monday, Nov. 9,
1936, as American Education Week and urge-that it be observed throughout
do
Act,
Act,
Wagner
Company
session of the United
first
The
Including
Laws,
Act
Labor
PROCLAMATION
opportunity for all of our people to obtain the education that will
fit them for their life work and their responsibilities as citizens is
the
on
Holding
Utility
An
best
Deal
New
AMERICAN EDUCATION WEEK
A
Rule
Term—Will
By the President of the United States of America
Court Opens Eight-Month
Constitutionality of Many
Supreme
States
United
•
by
the
end
States.
United
Another
the
of
Court,
Collection
ployment
United
States
Supreme
Court
commerce.
power
private
Oct. 2 issued
unemployment insurance law. The case may ultimately be
used as the first important test of the Federal social secur¬
see
The order, made in response to a petition by
Steel Corp., restrained the collection in
ity program.
the
States
Gulf
Alabama
manent
a
payroll
A hearing on a
was
that the
1%
tax to finance unemployment
petition to make the order per¬
scheduled for yesterday (Oct. 9).
It is believed
of
insurance.
case
may
ultimately be carried to the United States
The
"Advertiser"
Montgomery
3
Oct.
of
reported
the
granting of the temporary injunction as follows:
Judge Kennamer granted the restraining order on condition
Gulf
States Steel
for
On
Oct.
the
Steel,
Borden
let
for
impounding
the
large
it
as
When
merely
erations.
the
he
that
had been
Later
Carmichael announced in United States Court,
been forced to vacate the agreement he
General
it
was
Security
he had
driven
learned
Board,
to
that
from
course
an
by administrative
authoritative
source
the
through which funds are received for
Commission, had served notice that
Alabama's funds would
immediately be cut off.
The
carrying out
paralysis
several
of
the
score
in
department
of
this
of
Alabama
threat,
it became known,
Commission,
with
would
resultant
loss
have meant
of
jobs
to
employees.
Application
until
confine
the
since,
in
Alabama
all
unemployment taxes
due within the
validity of the social security law could be passed upon
organization
American
validity of the Railway Labor Act
Railway against the employees'
of Labor.
Federation
Because
Law.
In
1926
the Supreme
it has been only slightly
government officials here believe the court will affirm
its
Frazier-femke
The
Bank
Land
of
farmer
a
the
pending
case
appeal
on
of a
Stock
brought by the Joint
was
the
the lower court which upheld
from
retain control of his
reasonable rental fee, with the right to repur¬
default
in
property by payment
chase
law
Kansas
Mortgage Case Pending
of
his
mortgage
to
farm later.
Under
of
date
30,
Sept.
United
from
accounts
Press
Washington stated:
The Federal
Circuit
Government today
decisions
Court
Labor Relations Board
Circuit
Board
One
Court
invalid
of
involve
set
decisions
and
the
cases
five
in
as
refused
in
Freuhauf
all
to
involves
appealed to the Supreme Court to review
cases
five
order
Jones
Trailer
involving
validity
of
National
the
under the Wagner Labor Regulations Act.
up
of
the
cases
enforcement
& Laughlin
Co.
of
Canton,
of
held
the
court
Steel Corp.
Ohio,
and
Act
and
the
rulings.
of Pittsburgh
two
;
Friedman-
Harry Marks Clothing Co. of New York.
original action brought by counsel for Gulf States^ Steel prayer
injunction relief, counsel on both sides strove for an agreement which
would
the
the power of the
for enforcement
and collective bar¬
courts
Virginian
the
Farm
While the
for
of
involves
case
by
of
tests
the
upon
of workers'
supervision
brought
clean-cut
directly
upheld the Railway Labor
modified
two
Planned General
call
previous decision..
consid¬
that
Alabama's Unemployment
State's representative entered the agreement,
the
provide
cases
to
Another labor
amended,
as
Steel
brought by the Associated Press against orders
one
gaining.
right of
Social
operation of
if
unemployment insurance taxes to permit
a new
action contesting the State law
attacking validity of the Federal
well.
Attorney
Federal
bring
to
and Federal Constitutions and
yesterday afternoon,
said
the
of Alabama
time
enterprises
statute
after
These
Government
Act cases pending include one
Corp. against enforcement of orders
Relations
& Laughlin
Board and
Board.
the
Labor
National
Jones
the Labor
Court
proceedings were begun by Gulf States
Burr, complainant's counsel, and Attorney General Carbe known that an agreement had tentatively been reached
day
michael
under State
and set the hearing for a
9.
second
law.
Important
Federal
TVA was not a proper
into contracts with
entering
from
company
brought by
of
more,
or
the attempt of stockholders of
on
of the
test
electric power industry, with an investment of
believes that the TYA decision of the court
Alabama Power Co. to prevent
The
Court.
assistance
that the
$31,000,
permanent injunction
place in the State Depository here the sum of
its due taxes,
representing
down
Co.
their
jurisdictional
Preliminary
grounds.
being argued, and the case, may be delayed in reaching the
$12,000,000,000
term
constitutional
on
area
now
are
Supreme
last
of
Supreme Court.
Valley
power
of the Tennessee Valley Authority in the Tennes¬
enjoin further expansion
points
in the Northern District
Deal power policy
out
method of regulating electric power
companies brought suit in Alabama to
yardstick
the
involves
it
is being fought
case
This may prove to be a major New
Alabama.
Nineteen
rates.
Corp. to register
Share
&
third
a
since
test,
Judge C. B. Kennamer of Montgomery, Ala., on
an injunction against the operation of a State
Federal
Still
Court in
now in the Southern New York District
Securities and Exchange Commission to force
as a holding company operating
case,
brought by the
Bond
interstate
in
This
1935.
of
was
Electric
expected to reach the court before the
validity of the Utility Holding Com¬
is
June involves
next
term
Act
pany
Against
of Payroll Tax to Finance State Unem¬
Insurance—Case May Be Carried to
Federal Court in Alabama Grants Injunction
which
case
power
State
by the
The
cases
involving
of
which
rulings.
are
in
addition to
the Associated Press
two
appeals
already received by the court
and Bradley Lumber Co.
of Arkansas,
both
sought reviews of Circuit Court opinions upholding Labor Board
.
•
' >
■
Financial
2300
MassachusettsfJoins with New York and Illinois in
Asking
Rehearing by United States
Supreme
Courtj^of Minimum Wage Law
Reconsideration of the decision on June 1 of the United
•
York State Mini¬
asked on Oct. 5 by
Supreme Court, holding the New
States
Wage Law unconstitutional was
of Massachusetts.
As was
mum
Sept. 5, page 1492, the State of Illinois joined with
State on Aug. 28 in seeking a rehearing of the
columns
New
these
indicated in
State
the
York
Regarding the petition of Massachusetts, the New
advices from its Washington
decision.
York "Herald Tribune," in its
bureau, said:
decicion
its
covering
in
failed
had
York
opinion
decision.
if it
"Even
when
and
it
rendered some 12
was
ditions ?
threatened
Millions
aced.
stricken
The economic freedom of the masses
further existence of society itself was men¬
of public funds were expended in relief of the
and
doilars
of
depression has caused millions
them to look to the Nation and
has compelled
and
people.
jobs
glutted,
was
scarce,
were
greatly surprised at the action of the FTC.
Immediately upon
the new Robinson-Patman law we carefully reviewed our
are
price and
All
our
of any
rebates
kind
discounts
We
bona
a
fide
granted, and we believe that our
all and non-discriminatory.
are
fair
are
to
by
published prices
^
including chains, in excess of 5%,
This 5% discount of which the
such conditions that it can be
quantity purchased.
is available on
of the
Commission
complains
retailer.
any
Commission
Tiie
and in our
any
grant no discounts to retailers,
irrespective
earned
offered were
commercially practicable price policy can do so.
prices and discounts have been printed and disseminated to the
are available to all purchasers.
No secret prices, discounts^ or
and
trade
and
in
do comply if
opinion
and the prices and discounts now
attempt to comply with the law,
discount policy,
established
also
prices offered on five-
of the volume
complains
which the above-mentioned discount does not
apply.
All volume prices have been published and are available to all
purchasers and do not give unfair advantage to any purchaser.
We appreciate the difficulties of the FTO in attempting to enforce this
Act, but we are confident that our prices and discount policy is in
accordance with the spirit and letter of the law.
Kraft loaf cheese,
pound
on
_
take the
in
the
Corp., holding
Products
company con¬
had oppor¬
the text of the complaints and that no state¬
could be expected for several days.
yet to scrutinize
as
ments
From
Chicago
also
that Montgomery WaTd &
dispatches stating
came
nothing to say with regard to the Patman Act charges,
Co. had
Bird
The
♦
Dairy
Kraft-Phenix Cheese Corporation and Shefford Cheese, cited
of the FTC, refused to comment upon the cases last
complaints
They pointed out that their legal departments had not
night.
begging for work and those who might hire them."
National
the
of
the
trolling
Floor
Covering Sales
With Mont¬
its transaction
said
Corp.
Ward & Co., cited by the Commission, was not a violation of
because it was made prior to passage of the Robinson-Patman Act.
gomery
District of Columbia Federal Court
Bar Issuance of Federal Reserve Notes
Filed
Action
Seeks to
An
notes
filed
was
Court
Federal
lumbia
further
the
restrain
to
action
Reserve
in
5 in the District of
Oct.
on
Co¬
of Phila¬
Montgomery
D.
John
by
Federal
of
issuance
According to the Washington "Post" of Oct. 6,
Mr. Montgomery said the whole system by which the Re¬
serve banks were permitted to issue currency was an un¬
lawful delegation of legislative power and should be curbed.
law
from which we quote added :
claimed
He
there
was
more
reserve
currency
York
of Bird & Son,
Inc., lias sent to the Federal Trade Commission a statement
is gold
in
the United .States Treasury.
cussion
of
the
the
Even
they
said
gomery
"evils"
of
the
all
were
government, he
issued by the
which said:
charged,
the
to
required to
was
has
notes
resulted
in
be
circulation
called in
In Associated
was
addition
"burned,"
otherwise
or
advices from
interest on notes
destroyed.
Washington, Oct. 5, it
to
enjoining
Chairman
Eccles
of
the
any
and
Reserve
more
Mr. Montgomery asked the court to require those banks to turn
the
to
over
Board
Reserve
Secretary Morgenthau from authorizing the issuance of
Bank notes,
government
"the surplus" which
he said
earned
was
by
use
of the money power.
*
First
Complaints Issued Under Robinson-Patman Act
-—Federal Trade Commission Charges Five Com¬
panies with Price Discrimination
The Federal Trade Commission announced
it
had
issued
violations
complaints against five companies, charging
of
Act.
These
FTC
under
Robinson-Patman
the
complaints
the
announcement
One complaint,
the
the
to
of
Co.,
Section
&
Son;
Bird
&
Son,
Act
of Chicago as respondent.
having
its
This
principal
complaint
Inc.,
the
Bird
Inc., both of
Co., Inc., of Chicago,
Floor
East
Walpole,
respondents.
as
The
Covering Sales
Mass.,
place
also
third
and
at
charges violation
complaint
Corp.,
names
subsidiary
a
of
Montgomery Ward &
In this complaint Bird & Son,
Inc.,
Bird
Floor Covering Sales Corp. are
charged with violation of
of the Robinson-Patman Act, and Montgomery Ward & Co.,
Inc., with violation of Section 2(f) of that Act.
the
Section
2(a)
The
complaint against the Kraft-Phenix Cheese Corp.
charges
that
respondent with discriminating in price between different purchasers of its
products with the effect of lessening and injuring competition between it
and
other
manufacturers
and distributors of similar
products, and also
lessening competition between customers, some of whom
prices.
with the effect of
receive
No
or
favored
...
allegation
secrecy
on
is made
the
in the complaint of bad faith
of
part
the
respondent
in
or
connection
policy.
any
subterfuge
with
its
price
,
Allegations in the complaint against the Shefford Cheese Co., Inc.,
substantially the same as those in the Kraft-Phenix case, except for
differences in price allowances.
provisions of this law.
With the
designation of the one remaining county in Ne¬
"emergency drought county" on Oct. 3 by the
United States Department of Agriculture Drought Com¬
mittee, the entire State was placed within the official drought
territory.
Nebraska is now one of five States wholly within
the official drought region.
All counties in North Dakota
had been certified on July 8; South Dakota on Aug. 6; Okla¬
homa on Aug. 10, and Kansas on Aug. 21.
The Drought Committee also announced on Oct. 3 the
designation of eight additional counties in Indiana as in the
braska
as an
emergency area, and one each in Illinois, Minnesota and
Texas, bringing the national total to 1,180 in 24 States.
The Committee's announcement added:
Sales
the
complaint against
Corp.
and
respondents
Ward
k
competing
The
Corp.
to
the
are
Co.
at
Montgomery
charged
with
substantially
retailers.
are
the
under
Clayton Act.
k
Ward
Son,/
&
selling
lower
Inc.,
Co.,
Inc.,
floor
prices
the
Bird
the
two
coverings
than
the
Floor
to
same
Covering
first
named
Montgomery
are
sold
to
in Indiana included two counties on
L.
Bird & Son, Inc., and Bird Floor Cohering Sales
2(a) of the Robinson-Patman amendment
Section
-
Kraft, President of tlie Kraft-Phenix Cheese Corp.,
At Chicago, on Oct. 2, denied that there had been a discrimi¬
Aug. 31.
the Drought Committee
The designations made by
serve as
guide to all
damage was most severe.
States
United
Imports
$8,000,000
by
Exceed Exports
During First Half Year—Department of Commerce
Survey Shows Decrease in Gold Flow
United
The
States
had
unfavorable
an
balance
of
foreign trade during the first half of this
year, according to an analysis by the Department of Com¬
merce,
published on Oct. 4.
The statistics showed that
the import excess was caused chiefly by increased purchases
abroad of cane sugar, hides
and skins, undressed furs,
$8,000,000 in
unmanufactured
w7ool,
whisky,
vegetable
oils,
wheat
and
base stocks. Countries from which imports increased
most substantially included Cuba, Canada and tlie United
paper
The
report, prepared by Dr. Amos E. Taylor,
slowing down in the flight of capital funds
into this country.
Dr. Taylor pointed out that since trade
Kingdom.
also revealed
service
and
the
other,
a
items
during the
of
inflow
net
period virtually
gold
and
silver
offset
each
represented,
in
effect, a more or less direct measure of net long-term, and
^hort-term capital movements.
The analysis was summarized as follows in a Washington
dispatch of Oct. 4 to the New York "Herald Tribune":
"Gold
imports,"
substantial
to
level
Dr.
end
Taylor
of
tiie
inflow
estimated net
$496,000,000,
This
1935.
short-term
on
The
or
decline
funds
the
"which
reported,
half-year
period
assumed
level in
July),
aggregated
during January-June,
inflow
of capital
unusual
(and which
during August and September of this
comparatively low
a
two-thirds
was
the
toward
tions
ment
J.
The previous designation
Governmental agencies providing aid to farmers in areas where the drought
The
-
complaint against
is brought
Bird
Illinois, 10 in
The emergency drought list now includes 42 counties in
Indiana, and 52 in both Minnesota and Texas.
...
In
involved
Drought
Area—Drought Counties Total 1,180 in 24 States
In another,
business
of
transactions
the
passed
From the Commission's
2(a) of the Robinson-Patman Act.
Bird
and
Inc.,
that
feels
However, notwithstanding the confusing
Entire State of Nebraska Placed in Emergency
brought under Section 2(a) of the Robinson-Patman Act,
Cheese
N. Y., is the respondent.
Syracuse,
issued by the
Clayton
passage
has exercised great
in endeavoring to observe this law and avoid any controversy.
in the case is of such a character as to probably clarify some
issue
The
doubtful
quote:
we
the Kraft-Phenix Cheese Corp.
Sheffordi
Discrimination
Price
the first to be
were
amendments
during the last session of Congress.
names
Oct. 2 that
on
Corp.
Sales
this law.
of
the
prior to
provisions of this Act, Bird Floor Covering Sales Corp.
in
stated:
In
and
Press
Covering
in violation
not
made
was
case
problem.
"withdrawing the air of
inflation from the tires of the vehicle of agriculture, banking, business
and industry," he said, as he demanded an injunction against the Treasury
to prohibit printing more notes.
Besides, he asked that the bills already
reserve
Floor
Bird
this
in
Act.
Mont¬
Mr.
currency
pay
dis¬
economic
an
the Nation,
monetary system of
directly traceable
Robinson-Patman
the
are
involved
transaction
The
of
Reserve banks.
of
Issuance
Launching into
there
to the New
Oct. 3,
Boston advices,
According to
vigilance
in circulation than
the
"Times," Benjamin H. Roberts, President
delphia.
The paper
^
Commerce" of Oct. 3 we
following:
Officials
tunity
and the employer,
if he desired, could dictate the terms of employment.
In no real sense
was there
actual equality or even freedom to bargaining between women
market
labor
"The
of his com¬
issued by the
enactment of
From the New York "Journal of
protracted economic
a
employment
State for the necessities .of. life.
severely
was
of
severity
lose
to the
We
tiie
10, 1936
between different purchasers
price
products as charged in a complaint
A statement issued by Mr. Kraft said:
FTC.
i
"The
to
ago," the
years
still to be considered sound when the factual back¬
at present entirely different from what it was 12 years ago,
the law has since developed to meet changing economic con¬
is
ground
when
sound
were
"is it
petition said,
in
nation
pany's
minimum wage law in the
a
assumed
had
rendered in the so-called Adkins case
District of Columbia, and further
deciding the New York case by a 5-to-4 vote that New
to ask for a reconsideration of the 12-year-old Adkins
previous
a
on
Supreme Court had based
petition recalled that the
Massachusetts
The
Oct.
Chronicle
year
propor¬
continued
on
a
after dropping
$537,000,000,
or
about
1935."
funds during the first half of
1936
$124,000,000 less than in the corresponding period of
was
ascribed to
a
considerably smaller inflow of
than
in
the
first
six
months
of
1935, the inward
move¬
long-term account being larger.
merchandise
import
balance
was
$9,000,000
period of the current year as compared with
t
an
for
the
January-June
export balance of approxi-
Volume
Financial
143
of
first half
during the
$30,000,000
mately
which represented a
period
1935,
drop of $142,000,000 below the export balance of the corresponding
■of 1934.
The import balance was the first recorded since 1926.
half-year increase in exports was fairly well distributed among the
The
principal export markets, the report said.
Exports to the United Kingdom
showed a 17% increase, and those to Canada a 15% rise.
"Increases in the importation of such commodities as cane sugar, hides
2301
Chronicle
thorized 1,783 loans to industry aggregating $119,924,962.
$29,448,538 of
this amount was withdrawn or canceled and $32,411,900 remains available
to the borrowers.
In addition, the Corporation has authorized, or has
agreed to, purchases of participations aggregating $17,735,090 of 338
businesses, $5,334,077 of which was withdrawn or canceled and $6,949,169
remains available.
the Federal Emergency Administrahaving par value of $446,Of this amount securities having par value of $276,121,659 were
The Corporation has purchased from
wool, whisky, vegetable oils,
wheat, and paper base stocks accounted in large part for the growth in
the value of total imports during the first six months of 1936 as compared
with the same period of the preceding year," Dr. Taylor reported.
"Total
service
transactions,
including
interest and dividend items,
tion of Public Works 1,553 issues of securities
yielded total receipts of $481,000,000 during the first six months of 1936.
209,750
undressed
skins,
and
unmanufactured
furs,
on corresponding items aggregated $464,000,000.
the half-year's trade
and service
approximately equal, the reported data and estiresulting in net receipts of $8,000,000.
Payments
mates
merchandise
returns
basis
conditions
various
in
.
,
,
.
which
in
areas
items of
indicate
abroad
investments
..J..
.
and dividend
the interest
of
American
on
business
transactions,
therefore
were
the
On
foreigners
to
Including
accounts
upward
so-called direct
trend
investments
.
n
/
rrf
rt-f
n
,
r~t
Taken
-
r>
Increase
Retirement
.•
Expedite
to
e
m.
u-
tj
of
Payments
and
i_
r»
by
Holdings
Banking
i
•
Institutions
.
-
,.
1
reduction
A
m
from
sns
o rn
i
,i
i
t»
..
.
33^2% to 3% by the Reconstruction
Finance Corporation in the interest and dividend rate on
preferred stock, capital notes and debentures of banks was
announced on Oct. 3 by Jesse H. Jones, Chairman of the
•
1
•»
Corporation.
effective
as
r
i*
t
j_i
i
ti
j
1
JM.r. Jones explained that the new rate,
of Oct. 1, applies to banks making prompt
payments and increasing the annual retirement of their
RFC capital as much as 1 % yearly over present requirements.
The RFC last July, as noted in our issue of July 18, page 363,
lowered the rate of interest on its loans to banks and renf V»nr»tr<3 from 4% tn 3%
or DanKS irom 4t/o 10 d/0.
ceivers
The
following
the announcement issued
IS
,.
.
.
j
,
»j
j»
j
Oct. 4 by
on
effective July 1,
j
-
>
3%.
■
Effective Oct.
*
.
1936,
.,
.
1,
j
,
1936, the interest and dividend rate on preferred stock, capital notes and
will
debentures
be reduced to 3%
also
to those
banks that make their
promptly on or before the maturities fixed in the Articles of
payments
and
and
Amnrtatlnn
Association
ranital
thA
the
capital
debentures
note*
notes and
ana
of their RFC
annual retirement
premium of $25,556.
The report
"
listed disbursements and repayments to Aug.
f Allows*
purposes as IOllOWS.
Federal Land banks
Mortgage loan companies
and
ana that, inn-ease the
tnat increase tne
aeoentures,
1%
capital as much as
per
over
annum
and accrued interest.
par
,
report issued on Sept. 5 by Jesse II. Jones,
Chairman of the Reconstruction Finance
thorization and commitments of the
,,
Corporation,
Agricultural credit corporations
j-u
re„
,
including disbursements of
31,
Of this
sum,
$1,223,111,477 has been canceled and $1,052,902,040 remains
available to the borrowers and to banks in the purchase of
The relief disbursements,
preferred stock and capital notes.
the report notes, include
$299,984,999 advanced directly to
the Corporation, $499,997,653 to the States
certification of the Federal Emergency
upon
Relief Administrator,
$500,000,000 to the Federal Emergency Relief Administrator
under
and
provisions of the Emergency Appropriation Act—1935,
$500,000,000 under the provisions of the Emergency
Relief
Of the total disburse"expended for activities of the
Act—1935.
Appropriation
$6,230,164,766
ments,
war
Corporation other than advances to governmental agencies
jn
TP
and for
J
01 or»
-
relief, and of this
•
$4,169,013,180,
sum
or
approxi-
mately 67%, has been repaid, the report said, continuing:
Loans authorized to 7,467 banks and trust companies aggregate $2,471,me
rw-
018,364.
*!,,•„
Of this
'
amount
.
irk.
0.K
V?i
mna
$437,105,255 was withdrawn or canceled, $71,-
665,241 remains available to the borrowers, and $1,962,247,867
bursed.
Of this latter amount $1,723,998,394, or 88%, has
Authorizations
notes
and
were
debentures
made for
of
6,730
$1,271,567,864 and 1,120 loans
the
was
dis-
been repaid.
purchase of preferred stock, capital
banks
and
trust
companies
authorized in
were
aggregating
the amount of $23,-
422,755 to be secured by preferred stock, a total authorization for preferred
stock, capital notes and debentures in 6,853 banks and trust companies of
$1,294,990,619.
4,983,590.92
.
Processors
$110,423,286
of
this
was
112,870,218.37
ouuiUyu»7 y
distributors
or
for
processing tax
payment
14,718.06
—
...
JS'So"In
oUutoo«i7U
;
of
i4.7i8.06
$3,615,710,813.15 $2,852,416,713.54
Total loans under section 5
Loans to secretary of Agriculture to purchase
LoSf
refinancing
or
drainage;
levee and
kriga"61,242,454.59
-
277,340.66
22,300,000.00
tion districts.
Loans to public school authorities for payment
22,300,000.00
Loans to aid In financing self-liquidating con-
883,205.76 on loans for repair and reconstruc-
JJ®damaged by earthquake, fire
&ncl tornado)
t0 aid In
2o5,500fl)05«o /
canceled
or
withdrawn
and
54,167, 396«8S
20,224,586.66
20,177,690.67
financing the sale of agriculture
surpluses in foreign markets
63,516,368.47
Loans to Industrial and commercial businesses.
Loans to mining businesses (Section 14)
Loans
0n assets
Loans
finance
to
495,000.00
10,849,503.24
454,416,480.74
133,758,719.81
6,925,985.16
7,958,567.88
orderly
and
carrying
the
7,367,611.96
1,549,000.00
12,239,026.51
375,535,869.01
128,454,975.43
6,925,985.16
of closed banks (Section 5e).._
—
marketing of agricultural commodities and
-
f
cotton...!!.
on
tobacco
-
0tlier
161.15
.olS'SSo ™
—-
17™ 71211
18-883-8'8-78
"
I7.330.732.il
Total loans, exclusive of loans secured by
.si,658,190,645.08 >3.499.598,879.81
preferred stock
Pl5£Ku?LPo7unta md t™tPSp»ni®
<m-
repfifoYtoa^S^d pydprei^h
$1,069,543,603.23
stock)
Purchase of stock of:
The rfc Mortgage Company
$363,149,047.00
20,000,000.00
™oo"ook<JtebS'jot
$859,925,343 to other governmental agencies and $1,799,-
982,652 for relief, have been $11,308,722,497.
States by
"imooo.oo
.
Cr6ult unions.
au-
Corporation in the
o-i-ij-
Aug.
to
program
14,651,808.80
12,255,688.65
5,562,890.94
Joint Stock Land banks
—
Livestock Credit corporations
state funds for insurance of deposits of pub-
Loans
covery
84,629,360.83
16,109,372.29
13,101,598.69
116,523,180.02
-
Loans on turpentine
Report of Operations of RFC Feb. 2, 1932, to Aug. 31,
1936—$11,308,722,497 of Loans Authorized During
Period—$1,223,111,477 Canceled—Expenditures for
Activities of Corporation Totaled $6,230,164,766
a
173,243,640.72
89,519,494.76
"SSoo
insurance companies
Loans on corn
♦
According to
173,243,640.72
-.
Building and loan associations (incl. receivers)-
on
of the retirement fund.
part
a
-
Repayments
receivers).$1,950,008,840.77 $1,713,148,890.59
506,283,239.11
155',335,149.16
-—-387,236,000.00
355,037,108.14
334,560,110.82
204,928,345.63
Reglonai Agricultural Credit corporatloM
livestock:
as
Disbursements
_
The savings from the reduction in rate will be
Amortization and retirement
treated
value of $82,216,000 as the PWA is in a position
an aggregate par
to deliver from time to time.
payment may be made in cash or United States Government securities at
present requirements.
later date, such part of securities
at par, to be held and collected or sold at a
having
SfiS ffiftSSflSTTS?
When we announced our last interest reduction
the rate to banks and bank receivers was fixed at
rtn/1
a
of teachers'salaries
Mr. Jones incident to the latest change:
-
subsequently
Securities having par value of $142,-
still held.' In addition, the Corporation has agreed to purchase
Railroads (including receivers)
i
RFC Lowers Interest from 3>£% to 3% on Bank Secur-
ities—Action
are
Loans under Section 5:
Banks and trust companies (incl.
.
Securities having par value of $28
premium of $8,994,485.
collected at
in
♦
_
a
629,975 purchased from the Public Works Administration were
January-June, 1936,
an
represent substantial American interests.
,
961,384.
sold at
the purchase of preferredstook)—
34,375.000.00
Federal
Emergency Administration of
.ii9.384.8i
$1,123,918,603.23
Total
$363,568,431.81
Public""
$448,055,518.01
Works security transactions...
T°taiAllocations
to
$305,845,768.01
$6,230,164,766.32 $4,169.013,179.63
-
governmental
agencies under
secretary0oftheTreiy^Purchase:
gggj sBE°ockSESShSE£2Ebffi
Fa™0r°oanint(v Land Bank) Commlssioner
'.
Farmers
145,000,000.00
reKISSgScJiire&VuhVrYoaS,
To create mutual mortgage insurance fund
For other purposes
Secretary of Agriculture for
crop
2'600'00000
ss.ooo.ooo.oo
AtoiSirererl
10,000,000.00
34,000,000.00
loans to
oSSSSSSSS
for revolving fund to provide capital for
115.000,000.00
40,500,000.00
production Credit corporations
Regional Agricultural Credit corporations for:
Purchase of capital stock
(including $19,-
500,000 held in revolving fund)
44,500,000.00
Stock-Commodity Credit Corporation.....
97,000,000.00
pri0r to May 27,1933
3,108,413.80
1L374[929A3
Since May 26, 1933
'
.
.
.
TotaI allocations to governmental agencies $859,925,343.23
For relief:
$115,023,730 remains available to the banks when conditions of authoriza-
To States directly by Corporation
tions have been met.
To States on certification of the Federal
Loans have been authorized for distribution to depositors of 2,687 closed
banks
aggregating
canceled
or
$1,230,540,764.
$256,529,951
withdrawn and $63,061,718
$910,949,095
was
of
this
amount
was
remains available to the borrowers.
299,984,999.00
Un^erEmerg^
Under
Emergency
500,000,000.00
Relief
Act—1935
Appropriation
500,000,000.00
—
disbursed and $783,262,045 has been repaid.
...no„
canceled and
WcLS
$61,607,140 remains available to the borrowers.
$61,242,455
"
..
$3,761,788.00
Interest on notes issued for funds for alToca-
tions and relief advances
-
$19,885,322.69
disburspfl
1
162 loans aggregating $16,347,275 have been authorized through mortgage
...
.$1,799,982,652.40
Loans have been authorized to refinance 602 drainage, levee and irrigation
districts aggregating $129,732,749, of which $6,883,154 was withdrawn or
$3,761,788.00
Grand total
■
r~ ■ ■r
■
*
■■
■
■
..$8,909,958,084.64 $4,172,774,967.63
loan companies to assist business and industry in cooperation with the
amount
The following table, Contained in the report, shows the
b&enTepaidaWn or canceled' 55,626,835 was disbursed and $1,696,846 has
loans authorized and authorizations canceled or withdrawn
National Recovery Administration program.
Under the provisions of Section 5
tion
Finance
Corporation
Act
$10,720,440 of this
(d), which was added to the Reconstruc-
June
19,
1934,
the
Corporation
has
au-
each railroad, together with the amount disbursed to and
repaid by each (as of Aug. 31, 1936):
Financial
2302
Authorizations
Canceled
Disbursed
Repaid
$
$
Alberdeen & Rockfish RR. Co
127,000
127,000
Ala., Tenn. & Northern RR. Corp.
275,000
2,500,000
2,500,000
634,757
21,500
275,000
Alton RR. Co
Ann Arbor RR. Co.
634,757
400,000
(receivers)
100,000
82,110,400
14,600
12,150,477
16,550
41,300
Central of Georgia Ry.
Colorado & Southern Ry. Co
Columbus & Greenville Ry. Co
4,338,000
1,439,000
12,820,000
838
538
and
Florida East Coast Ry. Co.
(recs.).
Co. (rec)
8,300,000
28,925,300
8,300,000
1,481,000
*5*3",500
8,081,000
3,182,150
16,582,000
500,000
71,300
4,690
627*075
90,000
8,176,000
Fort Smith & Western Ry.
Fort Worth & Denver
Houston
Galveston
354,721
13,915
RJ?. Co
Lehigh Valley RR. Co..
&
Bigbee
25,290.000
6,000,000
7,915
520,000
90,000
800,000
2,550,000
200,000
3,000
2,550,000
197,000
1,729,252
744,252
985,000
Missouri-Kansas-Texas RR. Co..-
2,300,000
2,300,000
23,134,800
99,200
785,000
1,070,599
100,000
23,134,800
99,200
Mobile & Ohio RR. Co
785,000
Mobile & Ohio RR. Co. (receivers).
1,070,599
Murfreesboro-Nashville Ry. Co
25,000
Missouri Pacific RR. Co
Missouri Southern RR. Co
25,000
27,499,000
18,200,000
Hartford RR. Co..
7,700,000
New York Central RR. Co
N. Y. N. H. &
It has been getting them from
Wrightsville & Tennllle RR._
stop the spending orgy that he began
In addition to the above loans
personally is
2,805,175
18,672,250
bonds will probably remain close to their present
at least another year, while government bonds will
22,000,000
275,796
67,770
he said.
200,000
22,000,000
19,610,000
all sorts of new schemes.
Leonard
Statistical
Spangenberg, Managing Editor of the Babson
Organization, said on Oct. 6 that corporation
Another real estate boom is in the making,
We believe that an acceleration of
4,366,000
400,000
1,40*3*666
22,525
75,000
22,525
authorized, the Corporation has approved,
the performance of
a
million homes
a
1% equivalent to $134,900.
175,000^200,000 produced.
us? Normally
directly or indirectly.
Over
half of them are stiU without jobs.
Reemployment of these will proceed
gradually and help in solving our biggest problem of all—unemployment.
There is actually a real danger that there will not be enough good skilled
workmen when building is in full bloom again.
Few apprentices have been
How important is
this building which we see ahead of
5,000,000 men are engaged in this industry
trained during the depression.
,
the ardor of the forecaster
ing boom, say that there are many
been an argument, but somehow pur¬
That has always
smaller homes.
Outcome
of
Be—Chances
of
the
What
Election
v
Sees Little Effect on Business no
Babson
May
the
chasing power and borrowing power rise to
is
Fascism in
U. S.
United
session of the Annual Business Conference
Park, Mass. on Oct. 8, Roger W. Babson con¬
ducted his annual Question Box during the course of which
questions from the floor on the general subjects
and business.
Answering the question as
"what effect will the election of Nov. 3 have on business
he answered
investments
to
He said:
and securities?"
Very little
would
business whoever is
elected.
probably be followed by a decline in utilities not
natural gas.
or
on
"Is there any danger that the U. S. will
Fascist?" brought from Mr. Babson the following re¬
A further query
go
sponse:
The chances
can
hold its
50-50.
are
power
Chamber
Surely the party which is elected next month
in 1940 only by avoiding any election.
national election may be the last one for many years
The coming
to come.
New Taxes—Chamber
Future
Park Discuss
of Bonds, Real Estate, Etc.
Babson
Inflation,
1930-1936 is definitely
Vice-President of Babson's Reports,
speaking at the annual National Business Conference at
Declaring that "the depression of
over," Ralph B. Wilson,
Babson Park, Mass.,
The
toeing the line of
year
Oct. 8, observed:
preceding area of over-expansion
The readjustment
The
on
has now been duly compensated for.
and complete. Business is now
has been most drastic
It is 26% above a
1933; and only 15% below the
is at normal.
76% above the low of March
Balanced
Reports Employment Gain
published Sept. 26.
The directorsof the Chamber
Oct. 2 and 3 with the new stabiliza¬
tion agreement between the United States, Great Britain
and France featuring the discussions.
The statement of Sept. 26 said that the question of the
amount of the relief burden to be borne by the Government
in Washington on
met
during the next fiscal year is still unanswered. It also warned
that business is now carrying a maximum tax burden and
that no more taxes can be imposed if recovery is to continue.
Washington dispatch of Sept. 26 to the New York
quoted from the Chamber's analysis as
follows:
"Business sentiment for
earnings,"
observe
momentum as the
becomes
ment
the
more
Chamber's
statement,
"continues
to
gather
clearly seen."
With the agencies of
upon
the repeal of the tax on undistributed corporate
destructive effects of this tax on recovery and re-employ -
the Federal Government now preparing estimates
which the budget for the
fiscal year of 1937-38 will be based, the
Chamber of Commerce said:
"If economies
are
to be put into force
ministration must be giving them
the
and
expenditures
at
two
this year's gap between receipts
will be closed in the next budget.
That gap is esti¬
It may be increased a half billion more if addi¬
billions.
tional relief appropriations are
new
this is the time when the Ad ¬
The large question mark in
attention.
preparation of the budget is whether
mated
prosperity!
general volume of business today
ago;
Sees
could be balanced next year, if ex¬
penditures are reasonably curtailed and revenues are main¬
tained or increased through greater business volume, the
Chamber of Commerce of the United States said in a state¬
A
Depression Definitely Over, Says Ralph B. Wilson of
Babson's—H. C. Baldwin on Outlook for Stock
Market
Inflation—Other Speakers at Business
at
Commerce
The Federal budget
"Herald Tribune"
Conference
of
ment
Roosevelt victory
owning water powers
Good industrial stocks should continue to go up.
effect
States
Budget Possible in 1937 If Expenditures Are Cur¬
tailed
and
Revenues
Increase—Warns
Against
at Babson
of
Certainly there
materials.
Presidential
Regarded
At the closing
meet the occasion and building
Actually we think
these high costs.
sharp reduction in building costs.
indication of it in labor and in
no
looking for a build¬
obstacles to the development of such a
reduced, to get mass production of needed
Costs of building must be
boom.
booms do get under way in spite of
W.
30.000 homes were
there will probably be between
In 1934, however, only about
year.
built; in 1935 about 85,000, and for this year
there is little hope ofany
Mater
this movement will continue steadily
During normal times we used to build nearly half
Those who would dampen
Co. outstanding, amounting to $69,-
levels for
probably
He continued:
for the next few years.
700,000
30,000
39,000
6,000
mood.
bounds the desire of Congress to vote
whether the President can keep in
money for
continue firm.
162,600
959,923, are evidenced by collateral notes of the railroad in the total face amount of
$70,094,823.
Part of the outstanding loans was refunded by acceptance of the rail¬
road's five-year 4>^% secured note due Aug. 1, 1939, in the amount of $13,490,000
Roger
will be still
We seriously doubt
7,995,175
18,672,250
4,475,207
700,000
30,000
39,000
15,731,583
Note—Loans to the Baltimore & Ohio RR.
with the enlisting of Congress' aid.
while changing somewhat in character,
3,000,000
4,000
750,000
180,380
loans in the amount of $23,536,000 upon
of
President
This coming Congress,
specified conditions.
at a discount
the
predominently Democratic, and in the spending
623,379,795 106393556 506,283,239 155,335,149
—
be made towards balancing the budget.
against currency inflation he cannot
While
22,525
Western Pacific RR. Co
the course of the next year or two, some very
We hope and pray that in
strong and successful efforts will
220,599
4,366,000
400,000
Wabash Ry. Co. (receivers)
Wichita Falls & Southern RR. Co..
in principle,
""*266
bank credit which is an insideous
kind of governmental
Through the world's history, that
inflating.
785,000
15,731,583
Tuckerton RR. Co.
way of
financing has always led to inflation of prices.
2,300,000
108,740
30,000
45,000
Texas South-Eastern RR. Co
Totals
597,211
62,500
people.
It has been, in other words,
15,6*0*0*666
100,000
147,700
100,000
147,700
108,740
700,000
Texas & Pacific Ry. Co
the banks, not from the savings of
book entries.
18,200,000
34,200
28,900,000
-
Sumpter Valley Ry. Co
It is due to the Federal Government
borrowing billions of dollars to meet deficits.
300,000
600,000
3,000,000
Pioneer & Fayette RR
17,000
Pittsburgh & West Virginia RR. Co
4,475,207
Puget Sound & Cascade Ry. Co...
300,000
St. Louis-San Francisco Ry. Co
7,995,175
117,750
St. Louis-Southwestern Ry. Co
18,790,000
Salt Lake & Utah RR. Co. (recs.)
200,000
Sand Springs Ry. Co
162,600
Southern Pacific Co
23,200,000 1,200,000
Southern Ry. Co
19,610,000
Tennessee Central Ry. Co
in part:
3,000,000
10,000
991
29,500,000
Texas Oklahoma & Eastern RR. Co
to say
You well know why people fear this.
18,200,000
7,699,779
28,900,000
Pere Marquette Ry Co
-
on
27,499,000
-
Co..
Pennsylvania RR. Co
Federal spending, while
Babson's
getting them through the manufacture of
6,843,082
100,000
6,843,082
Mississippi Export RR. Co
N. Y. Chic. & St. Louis RR.
at
It has been getting them from
Minn. St. Paul & Sault Ste. Marie
Ry. Co....
is up.
abundance of money at low rates,
an
only continue but increase." Mr. Baldwin, who spoke
Annual Business Conference on Oct. 6, went
not
866*666
Co
River Ry.
__f
business
of
maintenance of good business.
low inventories and a distinct
increase in new capital flotations.
The whole situation is being benefited
by the increasing purchasing power of the farmer, the soldiers still have
some of their bonus money to spend, and there will be many increases in
dividends before the year closes.
Surely there is cause for rejoicing today
as we step out of the red-ink area of depression into the black-ink area of
There is
8,500,000
2,550,000
Maryland & Pennsylvania RR. Co.
(trustee)
520,000
25,312,667
22,667
9,500,000 1,000,000
800,000
Illinois Central
Litchfield & Madison Ry. Co
Maine Central RR. Co
Meridian
6,000,000
13,915
520,000
Gulf Mobile & Northern RR. Co..
trend
will still be a factor for the
tapering off,
to H. Clyde Baldwin of Babson's Reports,
there is a tendency to a lull in the fear of real
inflation, but" he says, "we take the position that in the
event of Mr. Roosevelt's reelection, the dangers of inflation
1,061,000
1,061,000
Georgia Florida RR. Co. (recs.)...
354,721
Great Northern Ry. Co
105,422,400 99422,400
Greene County RR. Co
fundamental
"at present
Henderson
&
RR. Co
labor is being employed.
more
its course.
According
15,000
10,539
15,000
The general volume of
run
prosperity.
227,434
10,539
that started seven years ago
depression
the
conclusion,
The
13,718,700
3,000
717,075
227,434
City Ry. Co.
Fredericksburg & Northern Ry. Co.
Gainesville Midland Ry. Co. (recs.)
155,632
53,500
16,582,000
3,000
Erie RR. Co
Eureka-Nevada Ry. Co.
In
1,150,000
219T666
8,300,000
3,182,150
Denver <fc Salt Lake Westn. RR. Co
"Business and
the
on
500,660
53,500
Copper Range RR. Co
Denver & Rio Gr. Western RR. Co.
observances
concluding
5,916,500
46,588,133
1,150,000
13,718,700
10,398,925 2,098,925
53,600
28,978,900
60,000
60,000
Cincinnati Union Terminal Co
his
T.566
Chicago & Eastern Illinois RR. Co.
5,916.500
Chicago & North Western RR. Co. 46,589,133
Chicago Great Western RR. Co...
1,439,000
Chic. Mllw. St. Paul & Pac. RR. Co 15,840,000
Chic. Rock Island & Pacific Ry. Co.
In
Financial Outlook" Mr. Wilson said:
14,153
230,028
464,298
535*866
3,124,319
500,000
Chic. N. Shore & Mllw. RR. Co..
country has ever known.
464,298
13,200
549,000
3,124,319
Co___
Six years ago business
up.
definitely
53,960
53,960
Central RR. Co. of New Jersey
way
35*702
7,569,437
7,569,437
Carlton & Coast RR. Co
its
on
has now
business is back at normal
and on its way into another period of prosperity.
Bonds are hovering
around the highest levels for years.
Stock market is consolidating its gains
and many issues are selling above 1929 highs.
Commodity prices are still
on the upward trend, the sales outlook is good, many industries are making
all-time highs, heavy industries are beginning to feel the effects of prosperity,
41,300
Birmingham & Southeast. RR. Co.
Buffalo, Union-Carolina RR
1936
that business has touched
crossed the normal line
on the way down, but today business is crossing normal on a fundamentally
upward trend into an area of prosperity which may be the greatest the
normal
134,757
400,000
Ashley, Drew & Northern Ry. Co__
Baltimore & Ohio RR. Co. (note)__ 82,125,000
Boston & Maine RR
605*367
10,
This is the first time in 14 years
peak of 1929.
or
Authorized Withdrawn
Oct.
Chronicle
voted, and beyond that figure if still other
expenditures are made before June
30 next.
Financial
143
Volume
''Public demand for
more
a
become
balance in the new budget is certain to
"Opportunity exists for substantial reduction in the costs of
the current year
If the outgo is only reason¬
activity of government over the year before.
which is now at peak figures, is maintained
through greater business volume, a balance will be wholly
ably curtailed and the income,
increased
or
practicable.
Federal taxes are now unprecedentedly
This is 60%
$5,000,000,000.
to more than
high.
the current year
estimated that internal revenue taxes alone in
will amount
higher than the
than any other year in our history,
figures of 1929 and 1930, and higher
other
1920, when the excess profits and numerous
unusual year of
levies were in effect."
war
Fears New Taxes Are Coming
Despite the assurances given by Henry Morgenthau
Jr., Secretary of the
Treasury, that "no new taxes and no increases in present rates ar > neces¬
sary," business, for which the Chamber of Commerce speaks, is
considers
it
the Administration's
administrative difficulties."
On this
score
examine
the Chamber's statement said:
laws by the Joint Committee
"If the proposed examination of the tax
Internal
in
Revenue Taxation
actually
Such
a
and
until it was made
though they might continue to have misgivings
imposed."
Unemployment has decreased by 7,000,000 since the depth
the depression, John W. O'Leary, Chairman of the
Committee on Employment of the Chamber of Commerce
of the United States, estimated in a report made public
Oct. 2.
The report, presented to the Chamber's Board of
Directors, said that other estimates of unemployment had
been "greatly exaggerated" and that "estimates of un¬
employment on a national basis are necessarily inaccurate
and useless for practical purposes."
Another report to the
Chamber by W. F. Gephart, Vice-President of the First
National Bank of St. Louis, and Chairman of the Committee
on Monetary Policy, said that the devaluation of the French
franc and subsequent stabilization measures offered great
encouragement for the expansion of international trade.
A
third report by Fred H. Clausen, Chairman of the Federal
Finance Committee, said that there is a definite oppor¬
tunity to balance the Federal budget in the next fiscal year.^
Proceedings of the Chamber were summarized as follows
in a Washington dispatch of Oct. 2 to the New York "Times":
the Board to be sent to the Chamber's
All three reports were adopted by
membership.
Obviously anxious to keep the Chamber out of the Presidential cam¬
it
so far as
A
possible, the directors were even more reticent than
was
discussion
of
the
Security
Social
that
of
O'Leary, whose report
his
committee
estimates
of
had
was
become
national
also presented
program,
of a preliminary nature, told inquirers
convinced long
of
ago
Reports
unemployment.
the unreliability
from
481
organizations of the National Chamber were used in the survey,
mented
by other data.
by
indication of the trend it took.
Mr. Clausen, was oral only and there was no
Mr.
member
supple¬
problem
solved only from a
and could be analyzed or
data
the
suggestions
submitted
by
alleviating unemployment as
Expansion of
on
member
organizations.
training facilities to give new skills to those on relief
who may have lost their old skills was among
it
relief to ineligibles, and efforts
amplify employment by conferences with
was
suggested that relief officials
ernment time and further
to
assure
and to retrain those
them.
of checking relief rolls aga,nst
Other organizations reported a program
local payrolls to prevent the granting of
to
speech."
the Governor's
All
the
of
stand
now
been
have
agricultural
reductions
no
commodities
changed in the treaties, Mr. Hull said,
Fordney-McCumber tariff.
There
corn, rye, oats or any of the other
brought
wheat,
on
eke
to
in
An
"Our
In this connection
executives.
be asked to allow job hunting on Gov¬
workers of a place on the relief rolls
imports
drought
are
tire
of
The
them
he
in 1935, and this holds
Hull pointed1 out.
not the fairness to admit these
products
to
temporary in
wear off."
disappear as the
brought in, he went on, because the farmers needed
starvation, and not because "our gates
were
their livestock from
save
foreigners."
imports in 1935 over 1934 was put at
$247,000,000, of which $75,000,000 was noncompetitive—coffee, rubber,
bananas and so on.
Of the rest, aside from sugar, subject to international
thrown
were
increase
40%,
of the world.
countries
all
constituted
entire increase in the combined exports of
This year, he added, the percentage is running
of the
said,
Hull
Mr.
accounted for by commodities affected
agreements.
in our exports in 1935 over the preceding year
trade
the
The
the
agricultural
$13,000,000 was
only
agreement,
by
in
increase
The
to
open
higher.
even
Landon
Governor
is Still
President Roosevelt's Re¬
Disputes
Bonus—Asserts Most of $1,500,000,000
About
mark
Government Obligation
a
Roosevelt's recent
President
/
statement that more than
as the veterans' bonus "is no longer a
obligat ion of the Government" ifc a fallacy, Governor
Alfred M. Xandon of Kansas contended in a statement issued
on
Oct. 7.
Governor Landon pointed out that the bonus
was largely paid in bonds and that "some day the Government
will have to pay those bonds." President Roosevelt's remark
was made in his speech at Pittsburgh on Oct. 1, which was
reported in the "Chronicle" of Oct. 3, pages 2144-45. Mr.
Landon in his statement also questioned the accuracy of
assertions by Secretary of Agriculture Wallace and other
$1,500,000,000 paid
future
The text of the statement follows:
members of the Cabinet.
has
come
American voter to get out a pencil and
every
New Deal figures.
check recently issued
he will get
for
After adding and substracting
results quite different from those reached by
the President and
pencil,
Pittsburgh
that "over a billion and a half went for the payment of the World War
veterans' bonus this year instead of in 1945" and "that payment is now out
of the way and is no longer a future obligation of the Government."
Leaving out of consideration the question of the bonus itself, I would
like to ask: If the billion and a half paid in bonus is not a future obligation,
An ordinary knowledge of
than has been offered since the
the President's recent statement at
would show the fallacy of
what is it?
It
arithmetic, without even the use of a
largely paid in bonds, and some day the
was
developments,
"gentlemen's
better outlook for world improve¬
exchanges were disrupted five years
circles is
tration
President's
to
himself being so
be
seen
in
certain statements
agricultural spokesman.
This
Ruined
Commerce,
While
Present
Policies Have Restored Farm Income
Recent criticisms of the
same
agricultural spokesman is well known to the farmers of
of Kansas were referred to
on Oct.
7 by Secretary of State Hull, who in a speech at
Minneapolis declared that the present Administration has
regained world markets for the farmer.
Nation
inevit¬
ably destroy the precious gains which have so far been at¬
tained in our drive toward a revival of foreign trade."
Ac¬
cording to Mr. Hull, the reciprocal trade agreements were
instrumental in promoting peace and improving interna¬
trade, and as examples he
pointed to recent reductions in duties by other nations, and
the trend abroad toward lowering restrictive quotas.
"The
world economic log-jab is beginning to give way," Mr. Hull
said, "as evidenced in concessions given to American pro¬
ducers by other nations."
He cited an increase in American
exports from $1,600,000,000 in 1932 to $2,280,000,000 in 1935,
as well as a rise in farmers' cash income from $4,328,000,000
feeling
by
increasing
$6,507,000,000 in 1935, not including benefit pay¬
estimated 1936 farm income at $7,500,000,000,
He
1932 and 1933."
Every farmer knows what has happened since the Supreme Court in¬
wheat
and
5-cent
even
though the President himself predicted 36-cent
Ever since the Supreme Court's decision
cotton.
trend of prices of wheat, corn,
the
hogs and cotton has been definitely upward
except recently in the case of corn.
agreements by Governor Landon
critics," declared Secretary Hull, "offer the
nothing but a return to Smoot-Hawleyism that will
the
August, 1935, that abandonment of the
of "the unbearable situation of
a return
validated the AAA,
Administration's reciprocal trade
"Our
made in Iowa by the
In making these statements he has
Republican farm program which effec¬
Middle West for his prediction in
Landon's Assertions
Pacts—Says Hawley-
getting reckless.
epidemic in adminis¬
tively safeguard the farm and the farm family.
AAA would mean
Tariff
careless with facts and figures, it
his Cabinet members likewise are
totally ignored provisions of the
ago."
Secretary Hull Denies Governor
Regarding Reciprocal Trade
Government
bonds.
will have to pay those
An illustration of the recklessness that has become
the devaluation and the
agreement" for stabilization "present a
ments.
character and will
drought
With the President
Although guarded in his dicussion of the recent monetary
Mr. Gephart held that the success of
in 1932 to
caused
"have
continued,
critics,"
is not surprising that
tional
shortages of feedstuffs"
place in agricultural imports
took
increase
during the present year, Mr.
true
Monetary Outlook Bright
Smoot
the
out
by the drought.
should outside employment prove temporary.
ment
rates
above the level of the
or
near
his various spokesmen.
made certain
report
in
,
discussion of our most vital economic
problem and of constructive methods for dealing with it made the subject
of
confused, inaccurate and incoherent statements such as characterized
country will regret to see this
The time
local approach.
The
and
on
incalculable
the
had been reached.
O'Leary emphasized his committee's conviction that the
of unemployment was local,
found
authors of the farmer's ruin prior to 1933 now ask him to
smite the Roosevelt Administration with full knowledge of
service it has rendered the farmer.
"The very
turn
.
tariff."
He did not specify at what date, the low point
of depression unemployment
Mr.
one
"has permitted his views
interests that were behind the
shaped by the same
be
to
utterances
effects
of
usual.
been
not
he declared,
candidate,
Republican
Smoot-Hawley
result might well please taxpayers,
certain that no new forms of taxes or increased rates would be
paign
has
There
,
the
Yet
will embrace the real inequities
the necessity for a thorough overhauling of
existing revenue statutes,
these laws would be indicated.
even
This occurred during the
dollar loss since that
$662,400,000 in 1932.
1929 to
Administration.
Hoover
"skeptical"
latest announcement to
existing tax laws with the object of "removing any inequities or unnecessary
on
"It
in
692,000,000
when our farmer was
was when
our agricultural exports slumped from $1,-
you
continued.
"The
when
tell
"I will
he
equilibrium is only practicable through re¬
"It is obvious that budget
except the
in a
New York "Times":
taken out of the foreign market,"
Minneapolis dispatch of Oct. 7 to the
time."
duction of expenditures.
"It is
$5,300,000,000 within a decade.
Extracts from Mr. Hull's speech follow, as given
the estab¬
activities.
The budget for
shows scheduled increases in expenditures of nearly every
lished government services, as well as emergency
1922
fell from $11,900,000,000 in.
and said that farm income
to
November elections.
whatever the outcome of the
insistent,
2303
Chronicle
This upturn, of course, was in part
Deal
minimizes
due to the drought, which the New
except as a political issue and when
needed as an excuse
for the taking of non-political trips.
With respect to corn, a look at the record should
level since
1925 and
futures a nine-year
corn
be of interest to both
On Aug. 19 last cash corn
farmers and livestock feeders.
reached its highest
peak, with December corn
quoted at $1.02^.
Then
en
came
the
news
that
route or contracted for
ments
20,000,000 bushels of Argentine corn was
shipment to the United States, with other
expected in December, when the American crop is
ship¬
due to reach the
market in most volume.
The
result
program,
at
was
of
a
this
news,
made possible
by the administration's farm
drop in nine days of 10 cents a bushel in corn
delivered
Peoria, 111., the great processing center.
With
can
an
estimated
draw his
own
In other words,
has sent
corn
crop
conclusions
of 1,458,000,000 bushels
to what this
as
each individual
has cost American farmers.
President Roosevelt through his own agricultural program
$20,000,000 of American money to Argentina and the American
farmers have lost far more by the
Farmers who by reason of the
transaction.
drought have to buy corn and cattle and
hog feeders will get temporary comfort from the breaking of corn
through importations of Argentine corn.
the
corn
all the
is letting in meat products
prices
The same policy which lets in
not alone from Argentina but from
meat-producing countries of the world.
Financial
2304
Oct.
Chronicle
Calls Statement
Govenor
Landon, Republican Presidential Nominee
Begins Campaign Tour in Central West—at Freeport, 111., Declares "New Deal Can Be Beaten."
•;
Governor
Landon
nominee for
campaign tour of seven
days in the States of Illinois, Ohio, Michigan and Indiana.
Governor Landon was scheduled to speak at Chicago last
night (Oct. 9) with two other major speeches planned at
Cleveland and Detroit.
With his arrival at Freeport, 111.,
early yesterday, Governor Landon was reported as saying:
of
Republican
Kansas,
through four of the Great Lakes States, to continue
"I'm starting on a trip
the
statements of
did
regard
not
situation."
Green
Mr.
Mr.
Dubinsky made
pended
the
there
that
Federation
In part
A
Associated Press accounts reported him as saying:
The New Deal can be beaten.
"That fight is going to be won.
American people can have their nation
back.
.
The
.
.
Declaring "the American people are revolting against a Federal adminis¬
that
tration
their individual liberties,"
gravely threatens
Gov.
Landon
continued:
"During the last three weeks I have seen this spirit of fight and determi¬
nation
of any single
and
waste
real
want
The American people, not as
the faces of crowds in 15 States.
on
members
be
could
no
lie said.
fold,
They repudiate a system that
their lives the
will hold down to the starvation level for the balance of
WPA.
women on
"It
government, and they are determined to have
realize the job
now
.
.
in our Sept. 12 issue, page 1658.
City with
York
New
in
conferred
7
after he had expressed
optimism as to the outcome of the peace moves, and said
that the Federation Executive Council might cancel "at
least some" of the suspensions against unions affiliated with
the C. I. O.
The "Times" of Oct. 3 reported his remarks
"I
in
and
Mr.
Zaritsky,
follows:
as
his
In
eration
Mr.
Labor," he declared.
fhe C.
Zaritsky
I.
and
the American Fed¬
the conflict between
cessation of
took occasion to defend Mr.
O., Mr. Green
Hillnian,
Sidney
President
of the Amalga¬
O., against
Clothing Workers, another prominent leader of the O. I.
charges being
Communists
these
for
Labor and
Dubinsky,
of
Federation
appeal
of
internecine strife
prospect ending the unfortunate
at the
happy
am
the American
It has left us shreds of Democratic
be done.
can
.
be beaten for the single reason that you and
"The New Deal is going to
I
it.
Oct.
on
Federation
the
between
differences
the
to
Dubinsky
mated
this country want back self-
itself up to this—the people of
sums
men
Green
Mr.
Mr.
jobs and real opportunities for the 11 million of their fellows
unemployed, and 20 million still on relief.
and
They
be stopped.
Government
the Federal
extravagance in
reference
and the C. I. O. appeared
but as good citizens, are demanding that
party,
in his offer that all peace overtures de¬
promise to press the drive "effectively."
conciliation, 'no return of the C. I. O. to
plain
it
Federation's
the
upon
Without
November."
the 3d of
on
steel
the drive to organize the
anything about
say
The drive was back of the formation of the C. I. 0. by John L.
Lewis, President of the United Mine Workers of America.
The C. I. 0.
has continued it in defiance of the Executive Council of the A. F. of L.
industry.
fight in which there will be no slackening until the last vote has been
counted
Hopeful
Mr. Dukinsky and Mr. Zaritsky as most
significant and helpful," said Mr. Green.
"They represent the spirit of
conciliation, which is precisely what is needed in this very deplorable
"I
President left Topeka on Oct. 8 on a
a
1936
10,
made
and
advocates
the present campaign that they are
subversive principles.
Mr. Green repudiated
them in
against
of
charges.
-
self-government for the will of the American people to be expressed at the
polls next month.
demand in no uncertain way that their
"On their ballots they are going to
Memphis "Commercial-Appeal" Purchased by ScrippsHoward Newspapers—John H. Sorrells New Presi¬
dent
r-ountry be given back to them."
The
90% of Labor Vote Will Go to
Roosevelt—Also Intimates Move to End
William Green Predicts
President
Dispute Within A. F. of L.
Approximately 90% of the labor vote in the United States
will be cast for President Roosevelt on Nov. 3, William
Green, President of the American Federation of Labor, told
President on Oct. 5.
Mr. Green estimated the total
the
labor
vote
paper
the
It
dispute
between
of
offered
have
to
news¬
Lewis,
Organization.
of
that committee
the Federation
that leaders
4
abandon
continue
John L.
and
Industrial
for
their campaign if
Oct.
on
to
will agree to
Federation
the
Committee
the
revealed
was
President
the
and he also hinted at a possible adjustment of
men,
Chairman
with
conversation
Mr. Green
10,000,000.
between 8,000,000 and
as
his
described
reported to the President," Mr. Green said in
"my
findings
that
about
the
I stated that
country.
political
think
that
appraisal
"That
fact
is very
reflected
is
State federations—there
unions
have
"Such
He
before,
the
of
It is based
accurate.
all
the
over
have
I
reports
on
country.
in
26
are
meetings
of them—and the national and international
labor.
of
kind
action
of
far
so
mentioned
union
workers
the
among
Practically
all of
the
adopted resolutions pledging their support to the President.
unanimous
campaign
situation
I know."
as
recent
that
of
conventions
has
the
been
never
machine
taken
in
any
and
workers
other
asked to estimate
hesitated
to
name
would place
the voting strength of labor,
figure, but
a
it between
in
to
response
second question
a
and 10,000,000,
5,000,000
whether
in
the
.
Department
that
and
basis
said
F.
the
that
Industrial
workers
are
.
of L.
question
of
after he
one
harmony
looks
close
also
regarding
asked about this topic
was
of leaders of Mr.
group
ranks
was
the
on
Lewis's
Com¬
F. of
L.
of that?"
better,"
Mr. Green
he replied.
asked.
was
to
moves
the
end
United
at
the convention
and
Cap
It
Federation
suspended
stituted
dual
a
When
and
offer,
unturned"
New
he
and
William
Dubinskv'e
York
the
cap
would
President
mony
on
"at
establish
we
New
York
"Sun"
the dispute within
Oct.
of
of
first
©.
10
such
I.
the
the
and
cap
made the
groups,
ranks
of
offer
overture
peace
millinery department of
Workers'
unions
O.
Green,
President
he said that he
foster
the
Wednesday for
and
the
Millinery
Union,
that
on
has
the
at
the
been
Hotel
made
ground
the
Penn¬
since
that
they
the
con¬
millinery
that
cap
all costs."
and
for
F.
with
millinery
of
peace.
joint meeting of
department
time
A.
L.,
heard
Mr.
of
"most happy" and would "leave
movement
a
Mr.
Property.
Basic
Principles
Trust
of
The Trust Institution and the Community.
The author, Mr. Stephenson, is one of the best-known men in the trust
He began his trust career with the Wachovia Bank & Trust Co. of
subjects and,
has
N.
C.,
of
in
1918,
where he served
as
trust
officer until
Since then he has been Vice-lb"esident of the Equitable Trust Co.
Wilmington,
of
Del.
as an
He is
a
well-known
writer and lecturer
rapidly growing reputation as an educator.
a
on
trust
instructor in trusts at the Graduate School of Banking,
He
was
President of
the Division in 1931.
The book can
be obtained from the Trust
\
Division, 22 East 40th St.,
Issuance of
Our
vention
We
are
♦
Annual
Number,
American Bankers
Section—Invitations
for
1937
Con¬
Received from Boston and Mexico
issuing today our annual publication, the Ameri¬
Bankers Convention Section, embodying the proceedings
of the annual convention of the American Bankers Associa¬
tion, held at San Francisco, Sept. 21-24.
The addresses,
re¬
ports, resolutions, etc. which came before the General Ses¬
sion, will be found in full in our special edition, in which
also
is
presented
the
similar
matter
which
featured
the
the
of
was
Trust
for
Corporate
Management of Trust In¬
The announcement of the Trust Division of the American
5
insurgent organization.
to
confer at
of
the
was
Safeguards
Wills and Estates.
Personal Agencies.
Bankers Association said:
can
sylvania.
stone
Business.
bit
a
Dubinsky, President of the International Ladies' Garment Workers'
Hatters,
Trust Services.
Trusteeships and Agencies.
Convention
from
quote
Trust Institution.
Institutional
vestments.
relations."
Union, the second largest of the O. I. O.
yesterday
T.
New York, at .$1.50 post paid.
"Everyone is becoming
organized labor:
David
the task
Departments Described in Book by
Stephenson, Former President of Trust
The American
1929.
labor's
in
temperate and everyone realizes that it is imperative that
We
special merit
Trust
Winston-Salem,
Peace Coming
continuance of work to organize the steel workers.
on
the prospects
situation
maintain
any
us to assume
Commercial-Appeal.
Personal Trusteeships and Guardianships.
consign¬
government
on
Organization had made overtures to the A.
conditional
"What
"The
to turn them aside from
believe, qualifies
planning to evade its regulations
were
governing
wages
published reports that
for
for peace,
and
to
"onl^ incidentally,"
of
mittee
more
.
method of detailing existing agencies
administer the law, because there was
already
Sees A.
discussed
outside interests
It is that principle, and not
this week the publication of "The American
System of Trust Business," by Gilbert T. Stephenson,
giving in compact book form a description of the work of
trust departments.
It is intended as a layman's introduction
to trust business for the purpose, as stated in the foreword
by Merrel P. Callaway, Vice-President of the Guaranty
Trust Co., New York, of presenting in non-technical language
a brief
outline of the American system of trust business.
The following list of chapters and some of the subjects
field.
Green
no
The Trust Division of the American Bankers Association
...
Mr.
with
individuals that, we
announced
some
Labor
of
manufacturers
concerning hours
ments.
of
G.
and
he said:
about 8,000,000 at least, and possibly 10,000,000."
Turning to discussion of the Walsh-Healey law, Mr. Green said that he
hoped the President could find
evidence
so.
♦
Mr. Green at first
should say
"I
institution dedicated to
covered will indicate the contents:
meetings.
When
an
Division of American Bankers Association
including both organized and unorganized.
I have had
and contacts
as
of administering The
talk with reporters,
appraisement of the political situation showed
my
90% of labor is for him,
received
he
newspapermen—men
in ourselves
follows:
as
a
as
We intend to keep it
present position on the principle that newspapers should be operated by
their duty to their readers.
dispatch of Oct. 5 to the New York "Times" from Hyde
"I
The Commercial-Appeal
The Scripps-Howard organization came into being and has grown to its
Work
Park, N. Y., reported Mr. Green's remarks
I
We look upon
the service of the community.
drive for the unionization of the
a
steel industry.
A
ownership of the Memphis, Tenn., "CommercialAppeal" has been acquired by the Seripps-Howard News¬
papers, it was announced on Oct. 5.
Col. James Hammond,
retiring President and publisher, revealed the sale in an
editorial, but did not specify its terms. The paper is said
to have daily morning circulation of approximately 123,000
and a Sunday circulation of about 138,000. John H. Sorrells,
Executive Editor of the Scripps-Howard Newspapers and new
President of the paper, said in a statement:
the
the
He
is
to
hatters'
convention.
He
come
no
to
department
said
that
Dubinsky and with Max Zaritsky,
workers, who also appealed for har¬
proceedings of the various Divisions and Sections. As
is indicated in our Bankers Convention Number, Boston and
Mexico City extended invitations to the Association to hold
the 1937 convention in their respective cities.
The invita¬
tions will be acted upon at a
tive Committee.
ciation
is
Tom
later date by the Administra¬
President of the Asso¬
The newly elected
K.
tional Bank of St.
Smith,
President of the Boatmen's Na¬
Louis, Mo.
Volume
Arthur
B.
cell will be in charge,
Fred
N. Shepherd, Executive Manager, of the American Bankers
Association by the new Executive Council at its^ meeting
for organization immediately following the convention.
Mr.
Shepherd's election is his fifteenth selection for this post
by Council, he having first accepted the Executive Manager
ship in 1922.
The complete list of officers for the ensuing
year is given in our Convention issue.
Preliminary to the
issuance
the
of
Purcell is
Mr.
New
—Codicil
Jesse
of R.
was
law
the legal staff of
of
Named
banks
his
He was 64 years old.
Diplomats and government
officials joined in praise of the former Ambassador.
Presi¬
dent Roosevelt was among those who sent messages of sym¬
and
Roosevelt
know that
to
you
thoughts
our
FRANKLIN
...
Personnel Announced by Phila¬
delphia Federal Reserve Bank—E.^C. Hill Named
in
Changes
Vice-President
with
are
' •
H
,
The President's message follows:
want
Mr.
duties.
new
Several
C.
Ernest
I am sorry I did not get to see Jesse.
and the family.
you
I
for these institutions.
Dunn, Fiscal Agent
Tufts, who was formerly Assistant Deputy Governor of the
Farm Credit Administration in 'Washington, has assumed
gust.
Mrs.
Fiscal Agent for the Federal Land
Intermediate Credit banks, under
Federal
the
and
Charles R.
Federal
Banks
Oct. 4 of the appointment of
Announcement was made on
been forced to resign his post in Paris last Au¬
pathy to the family.
Deputy Fiscal Agent for
Land and Intermediate Credit
He had been ill for many months, and as a
pneumonia.
result had
He joined
♦
attack
an
Exchange Act.
1934.
the SEC in September,
Walter Tufts as Deputy
Oct. 4 following
In this capacity he
legislative counsel.
assistant
and
assistant
participated in the drafting of the Securities
Former Ambassador to France
Cancels
Charitable Bequests
died at his home in New York on
Gabriel, Calif., and lived in Buffalo,
He was graduated from Williams College in
1930.
From 1930 to September, 1934.
Legislative Counsel to the United States Senate
in the office of the
he
former Ambassador to France and
H. Macy & Co. of New York City,
Straus,
Isidor
San
native of
a
York, for several years.
as
Taxes
Estate
President
former
Will
to
of
Because
Act of 1934.
1927 and the Harvard Law School in
Walter Tufts
Death of Jesse I. Straus,
and enforcement activities
The SEC said:
of investigating
Division,
*'
proceedings was
1978, 1979 and 1987.
Sept. 26, pages
in these columns
was
the
under the Securities Exchange
to the
reference
latter,
and Exchange Division.
Mr. Purunder David Saperstein, Director of
Director of the Trading
County Savings &
President Lorain
Taylor,
Co., Elyria, Ohio, was reelected Treasurer, and
Trust
2305
Chronicle
Financial
143
Hill,
Federal
the
D. ROOSEVELT.
an
Reserve
Assistant Federal Reserve Agent at
of Philadelphia, has been ap¬
Bank
the
pointed a Vice-President of the Bank, it was announced on
Oct. 2.
At the same time it was made known that Arthur
Temple EmftMPEl, in New York City,
on Oct. 6, at which Governor Lehman, Mayor La Guardia,
bankers and numerous others prominent in various walks
of life were present.
A delegation representing the Chamber
Secretary of the Bank, a post formerly held by
C. A. Mcllhenny, who is now Vice-President and Cashier of
the Reserve institution.
Casimir A. Sienkiewicz has been
Mrs.
wife
Roosevelt,
of
President,
the
of Commerce of the State of New
Mr. Straus
ent.
attended
services at
funeral
had
He
Committee.
Executive
York
likewise pres¬
was
been
member
a
of
The
the
Rehfuss
following brief biography of Mr. Straus is from the
in the mercantile business,
Twenty years
Paris, gave Mr.
he
When
as
in
an
which took him frequently to
into
stated
service
Ambassador
as
and
old friend.
an
in
March,
Mr.
1933,
as
They remembered him
French for European
He
those years
With
been
hurt
it would
of
one
of
America
as
man
who had
tion
went to France in the
in
Agent
The
work
of the
have
of
the
made in
changes
operating
banks, with the principal direction coming
Reserve
Heretofore, the activities of the institu¬
President.
directed
been
result
the
are
officers of
of
assistant to the Federal
the performance of the Agent's statutory duties.
appointments
the office
from
him, the
fashion buyers
consistent
Post, in his new position, also will act as
activities
France.
as
friendliness behind
French
Paris's most
much
Bank,
Fenner continuing in his present position
Zell G.
Examiner.
Chief
Reserve
opposed imposition of high duties on French products, warning that
the end
institution, with
Mr.
leader-
ship in recovering from the effects of the World War.
in
announcing the appointments, John S. Sinclair, President of the
that Mr. Hill will continue to direct the bank examination
In
the
won
of the
when he pointed to the
these changes in the Philadelphia Reserve
personnel, the Philadelphia "Inquirer" of Oct. 3
said:
men.
old customer
an
1920,
has
reporting
Bank's
:
understanding of that country, and: he
business
called
was
went
back
from
Straus
of French
confidence
Straus
In
of Commerce" of Oct. 5
of Statistics and Research, and J. Frank
been designated Manager of the department.
of the Department
Chamber nearly 40 years.
New York "Journal
Agent, has been
the Bank in charge
appointed Assistant to the President of
senior Vice-President of the Chamber's)
was
Post, also an Assistant Federal Reserve
E.
appointed
by the President and the Federal Reserve
jointly
Agent,
spring of 1933 as America's Ambassador.
Mr.
Straus's
United States
Mr.
His
began
friendship
member
a
Tax
Laws
Chairman
clerk in
the R.
the
In
Election of Officers of Minnesota Group
Bankers Association
to the
born
in
and
noted in
of
Roosevelt
He be¬
At
department
in 1919.
standing.
years'
for
drafted
the
him
in
1931
to
June 25,
from
1872.
elected Chairman, and DonHopwood, also of Minne¬
apolis, was elected Vice-Chairman for the year 1936-37.
It.
C. Mess,
of Paine, Webber & Co., Minneapolis, was
elected Secretary-Treasurer of the Group.
The following
be
old R.
He attended Sachs's
J.
$878,512
In
present
creased
from
Federal
cause
of
decedents
such
are
and State
estate tax
the estates
hardship
in
Under
the
circumstances
the
bequests
said
last will
The
taxes.
devoted
revoke
my
of
laws
Co., Inc.
organizations.
and
under
may
sacrifice
and loss
a
increased
now
part
existing,
me
in
estate
to
taxes
upon
governmental
the estates
social
of
I deem it advisable to cancel and
the paragraph
designated
"Fifth"
in
meeting of the Chamber of Commerce of the State of
1 the first regular meeting since the
recess, the following were elected to membership
Victor D. Werner, Vice-President,
Bank.
Paul Schwarz of Halle &
Globs,
New York,
Oct.
umns
Assistant
on
E. Wood & Co., St. Paul, was
National Board of Governors, to
the
Hubert Kennedy.
BANKS,
TRUST
COMPANIES,
&c.
taking occasion to refer here to the latest state¬
an
3,
First National Bank of the City of
item regarding which appeared in these col¬
page 2151.
In noting the decline in profits
$10,750,568 to $8,192,854
Sept. 30,
that
due recognition should
statement tlie liabilities listed but one
30
June
of July 1, in amount of
$2,500,000.
on
dividend—
The assets in the
Sept. 30 statement total $634,847,660 compared
with $630,-
June 30.
Treasurer,
Sept. 30 statement of the National City Bank, New
City, shows that resources of the bank on that date
totaled
June
Columbia University.
Purcell
Appointed
Assistant
Director
Trading and Exchange Division of SEC
30
$1,890,946,435, Which compares with $1,969,852,055
and $1,878,129,543 March 4, the dates of the two
statements.
Deposits on Sept. 30 amounted to
$1,705,290,381 as against $1,730,019,147 at the end of June
and $1,650,147,302 on March 4.
According to the statement,
the bank on Sept. 30 had cash on hand and due from banks
previous
of
Commission announced on
Purcell as Assistant
the appointment of Ganson
First National
($2,557,714) between June 30
have been given to
the provision in the Sept. 30 statement not only for the
Oct. 1 dividend, for which $2,500,000 was appropriated, but
likewise the appropriation of a similar amount ($2,500,000)
for the dividend payable Jan. 2, 1937.
In the case of the
from
York
Steiglitz.
The Securities and Exchange
3,
serve
ABOUT
are
The
Reynolds Corp.
George L. Cross of Foster & Co.
S.
members of
Realty and Improvement Co.
Irving Van Zandt, President, Union Square Savings
Ganson
to
094,113
Beinecke, President, U. S.
George E. Warren, Vice-President, Chase National Bank.
Douglas
the following
will serve for another year:
Burns, Northwestern
ment of condition of the
'
and
testament.
in the Chamber:
Oct.
We
programs.
summer
Dr.
H.
ITEMS
certain
New York held Oct.
Edwin J.
Delander,
succeed W.
resulting
Seven Elected to Membership in Chamber of Commerce
of State of New York
At
officers
Bank, St. Paul.
National Bank & Trust Co., Minneapolis.
Overman, I. H. Overman, Inc., Minneapolis.
Paul
elected
impose substantially in¬
decedents
financial
and
large
made by
and
these
I-Iarold E. Wood, of Harold
untimely sale and liquidation of assets of estates to provide for the
payment
Minneapolis.
Co., St. Paul.
July 31, 1934, Mr. Straus said:
upon
undue
Macy &
H.
distributed among 16
been
dated
burdens
tax
conditions
stock of R.
common
have
codicil
a
The
I.
new
to
Executive Committee
N.
Committee to serve two years :
M. Dain & Co., Minneapolis.
Driscoll, A. G. Becker & Co.,
Wendell T.
The 1934 bequests which were canceled totaled
the
in
This would
J.
addition
In
the
on
1934 revoking these bequests because of the
in
estate taxes.
L.
Dain,
Stanley Gates, Stanley Gates &
Oct. 7. It revealed that while in 1933
Mr. Straus had left large bequests to charitable, philan¬
thropic and educational institutions, he had attached a
codicil
M.
J.
these columns Aug. 29,
City
Green, of Piper, Jaffray &
elected to the Executive
were
Harvard in 1893.
The will of Mr. Straus was filed in the Surrogate's Court
of New York
Sept. 30, R. G. Andrews, of Wells-
Dickey & Co., Minneapolis, was
Straus as Ambassador to France
page 1337.
of Mr.
of the Minnesota Group of the
Association, held at the Minikahda
of
Roosevelt's election.
city,
graduated
of Investment
meeting
Bankers
Club in Minneapolis, on
He
Revision
annual
the
Investment
State Emergency Relief Administration and
he organized the Roosevelt Business and
this
was
The resignation
was
Co.
1932
League to aid in Mr.
was
Macy &
Commission
State
Governor
the Hanover Bank.
H.
company
Roosevelt
York
Temporary
Preparatory School
was
a
President
then
the
the
of
Straus
Mr.
He returned
illness.
in
as
father
New
the
$20,000,000.
dispense
career
his
with
of
when
Professional
growing
of
He became President of
1914.
was
known
his
with
partner
a
in
had
early in August and after two weeks he wrote his resignation.
Straus
came
store
friendship with President Roosevelt kept him at his
great
after he
long
post
and
bankers
in
amount
of
$425,618,074,
comparing
with
$-182,847,279 and $484,647,497, respectively, on June 30 and
Financial
2306
held United States Government
March 4;
securities of $564,-
098,859 against $622,644,698 and $498,707,781, and also held
State and municipal bonds of $111,456,907, which compares
with
Undivided profits of
$111,443,449.
$101,487,261 and
third quarter were reported at
the bank at the end of the
$11,991,340; undivided profits on June 30 totaled $10,805,481, and on March 4, $10,944,550.
The statement re¬
flects the retirement, as of Aug. 1, of $50,000,000 of preferred
and surplus at $42,-
capital is given at $77,500,000,
stock;
Oct.
Chronicle
2P50
20,
securities decreased slightly,
$32,274,230 three months ago and
a year ago.
Aggregate loans and discounts were
against $40,714,893 on June 30 and $38,169,285
Government
States
United
being $31,435,858 against
$21,218,847
$37,227,104
on Sept. 30, 1935.
*
proposed acquisition of the First National Bank of
Rochester, N. Y., by the Lincoln-Alliance Bank & Trust Co.
of that city became effective on Sept. 26.
The
500,000, unchanged from June 30.
♦
latest
the
at
date
$107,107,030, comparing
shown at
were
$106,879,740 and $96,541,089, respectively, June 30 and
with
March
of Sept. 30, the Marine Trust
N. Y., shows total resources of
$188,996,565 (as compared with total resources of $212,850,225 on June 30), of which the following are the chief
items:
Cash on hand, due from Federal Reserve Bank and
other banks, $36,561,151 (against $58,607,566 on June 30);
United States Government securities, direct and fully guar¬
Co.
as
Buffalo,
Buffalo,
anteed, $30,246,543 (against $31,453,134 at the earlier date) ;
loans and discounts, $58,132,108
(as compared with $58,-
$26,297,223
statement,
deposits are shown at $168,679,034 (as compared with $192,640,422 on June 30), and undivided profits are given at
$1,311,373 (against $1,095,760).
The capital and surplus
bonds and investments,
On the debit side of the
other
and
383,322),
(against $27,216,812).
respectively,
$8,000,000 and $6,500,000,
of the institution, at
President
George F. Rand is
remain the same.
♦
069,300
The Liberty
$12,927,132 is shown in
(New York) statement
in total resources to
Trust
&
Bank
Federation
Co.
30. 1936. This compares with $12,June 30 of this year and $10,128,456 on Sept. 30,
of condition
on
of Sept.
as
Deposits increased to $10,995,551 compared with $10,-
1935.
of
4.
An increase
the
its condition report
In
Farmers Trust Co., New York
City, affiliate of the National City Bank, totaled $82,137,320
on Sept. 30, according to the bank's statement of condition
as of that date.
This compares with deposits of $82,218,413
on June 30 and $72,358,056 on March 4.
Undivided profits
at the latest date were $3,393,725, an increase over the
June 30 total of $3,044,172 and the March
4 figure of
$2,973,012, while capital and surplus remained unchanged
at $10,000,000 each.
Cash on hand and due from banks
Sept. 30 amounted to $32,089,428 compared with $30,640,081
June 30 and $30,790,789 March 4; holdings of United States
Government obligations totaled $26,562,064 against $32,896,840 and $31,015,098 on the earlier dates. Total resources
Deposits of the City Bank
Undivided profits totaled $173,002
against $161,080, with capital and surplus remaining un¬
changed at $1,550,000.
Other items listed in the statement
showed
the following comparisons with June
30, 1936:
Cash, $4,103,098 against $3,682,110; United States Govern¬
ment securities, $991,267 against $939,362; New York State,
County and City bonds, $2,117,284 against $1,628,518.
092,276
30.
June
on
The financial
of Brown Brothers Harriman
statement
&
Bank of Buffalo, Buffalo, N. Y., in its state¬
as of Sept. 30 reports deposits of $56,-
condition
of
ment
30 last), and total
$60,537,769).
The
the assets in the present report
(as against $51,843,086 on June
of
$64,969,704
('as against
112,241
resources
principal items making up
Cash on hand, in Federal
and due
Reserve Bank
are:
$16,249,550 (as compared with $8,459,080 on
June 30) ; United States Government securities, $14,290,039
(against $17,491,765) ; demand loans, $11,363,059 (against
$11,769,779), and time loans, $6,147,375 (as compared with
$6,048,985).
The bank's capital and surplus remain un¬
changed at $2,200,000 and $1,000,000, respectively; undivided
profits have increased to $1,541,843 from $1,337,238 on
June 30.
Oliver Cabana Jr. is Chairman of the Board, and
from
banks,
George G. Kleindinst, President.
Co., New York, private bankers, as of Sept. 30, 1936, shows
increases
in
deposits, total assets and capital and surplus
three months ago and a year ago.
The
figures in each case are the highest since the firm began
with
compared
Total deposits of $59,increase of 14% com¬
pared with $52,157,918 on June 30 last, and a gain of 44%
over deposits
of $41,228,461 la year ago.
Total assets in¬
creased to $87,460,863 from $79,757,095 on June 30 and
$66,900,468 on Sept. 30, 1935.
Capital and surplus of $12,001,413 compare with $11,609,786 three months ago and
publishing its statements in 1934.
it was announced
528,203
the institution.
30 represented
Sept.
on
$10,839,076
ago.
compared
851,454
on
follows
year
30, 1935.
Sept.
with
$15,916,119
the
$12,-
30 and
June
on
Other asset items
ago
months
three
Cash,
of
ances
banks,
bonds
marketable
and
012,526
against
against
$1,967,199
$13,406,519
securities
$13,375,963
against
other
$15,467,919
against
Government
and
$10,654,861
$9,951,774
(valued
$13,149,582 and
against
lower of
at
$9,388,532
and'
$2,673,446;
and
;
call
loans
$6,428,755
against
cost
or
liability
accept¬
$5,604,899
market),
or
;
$12,-
$759,037
acceptances,
on
The
newly-organized
Additional
offices
of
Ninth
corner
Eighth
Street
Avenue,
the
heads the
Manufacturers
Trust
both
in
Manhattan.
Street,
corner
locations
These
are
occupied
by the Chemical Bank & Trust Co., which
plans to discontinue them on Oct. 31.
Permission to main¬
now
tain the branches
Oct.
2
was
George
surplus,
The
J.
other officers,
according to the
Cashier;
Vice-President and
Smith,
Shuster, Vice-President, and William B. Gardner,
Cashier.
Co., New
given to the Manufacturers Trust
on
by the New York State Banking Department.
depositors in
Approximately 18,800
1 at 24-34 University Place,
and 275-279 West 125th
structure
$50,000
bank.
new
are
paper,
capital
a
capital,
Samuel S.
$12,482,312.
Nov.
on
National Bank in Chicago,
Central
of $300,000, consisting of
and $50,000 undivided
profits.
It will be a member of the Federal Reserve System
and of the Federal Deposit Insurance Corporation.
William
H. Regnery, President of the Western Share Cloth Co.,
with
$200,000
Assistant
York, will be opened
released
be
will
which will be located at Roosevelt Road and Halsted Street,
market),
and
investments,
other
;
customers'
and
deposits
a
respectively;
(valued at lower of cost
and
$5,677,917
stocks
$11,238,457,
and
"'frozen"
obtaining Federal insurance on all deposits up to $5,000, Mr. Garthe said.
starts
$19,216,321
States
$16,528,878
The
mitted.
30 days have been per¬
as result of the bank
only percentage withdrawals every
1931
Since
Chicago, 111., will open for business on Oct. 15, it is learned
from the
Chicago "News" of Sept. 30.
The institution,
ago:
United
George Garthe, Secretary-Manager of
by
In noting this, a dispatch from Lorain on
as
compare
of
figures
than
more
1, appearing in the Cleveland "Plain Dealer," added :
Oct.
Loans and advances stand at $17,-
with
year
a
899,795
an
1931,
under restriction since September,
Held
$800,000 in deposits in the Citizens' Home & Savings Asso¬
ciation Bank of Lorain, Ohio, was to be released on Oct. 2,.
banks
received
under
an
order
of
Auditor
payments
authorized
Illinois.
The
four closed Chicago
$239,351 on Sept. 29,
Edward J. Barrett, State
totaling
by
institutions
South
are:
West
&
Trust
Savings Bank, Brainerd State Bank, Marshall
Square State Bank, and Millard State Bank.
The Chicago
"Tribune" of Sept. 29, authority for the foregoing, also
An
arrangement between the two banks provides that the busi¬
ness formerly handled
by the Chemical Bank & Trust Co.
stated:
at these
amounting
turers
two locations will
Trust
facturers
Co.
30
Trust
and 61 offices in
the
staffs
This
will
arrangement
offices
in
the
two
branches
give
Borough
Greater New York.
these
at
be transferred to the Manufac¬
of
the Manu¬
Manhattan
The major portion of
will
remain
with
The
to
In
$105,722,
to
addition,
$746,995
A
the
United
earnings
ports
$11.31
Loan
for
per
the
share for
preciation and taxes,
period
common
Bank,
Brooklyn, N. Y.,
re¬
ending
Sept. 30, 1936, of
stock after deducting for de¬
compared with $4.83 for the corre¬
sponding quarter of 1935.
liquidation
to
The
statement
N.
of
Y.,
as
from funds acquired
of
Sept.
of
30
the
Brooklyn
showed
total
Trust
of
$119,240,SOS. comparing with $118,935,287 on June 30 last,
and $104,902,125 a year ago.
Total resources were $135,163,206 against $ J 35,064,015 on June 30 and $122,722,836 a
year
ago.
$1,423,632
was
the
The
statement
against
unchanged.
$1,325,635
showed
three
Holdings of cash
Federal Reserve Bank" and
crease,
being
undivided
months
on
other
ago.
of
banks
showed
on
return
paid
$340,500
out
The
latest
10,000
bills
on
payment
payable
was
made
and
from
depositors.
through
a
The latest payment
was
loan from the Reconstruction Finance
The bank has paid $37,500
on
bills payable and $14,194
Marshall
to
ment
of
Square State Bank repaid
$23,643,
Preferred
The most
recent
course
State
Millard
5%,
or
making
claims
of
a
total
its
2,500
depositors
5%
a
disburse¬
25%.
of
return
$6,276 and bills payable of $192,888 have been paid'.
return
to depositors was
made from funds acquired in the
of liquidation.
Bank's
bringing
the
latest
total
payment
return
on
to
deposits
45%,
and
amounts
was
to
made
$36,758,
to
3,300
depositors.
Preferred
Of
the
the
claims
of
$16,991 and bills payable of 20,000 have been paid.
latest disbursement to depositors, 4% was from funds acquired in
ordinary
course
of
liquidation
and
1%
from
a
stockholders'
lia¬
bility suit.
Surplus
hand and due from
$39,336,674 against $34,776,214
profits
total
preferred creditors.
Co.,
deposits
bringing the
total return to 23%%.
brought the
Corporation.
as
condition
has
approximately
Bank
ordinary
Brooklyn,
deposits,
on
6% disbursement of $13,227 to about 3,000 depositors of the Brainerd
State
Industrial
10%
creditors.
made
The
made to depositors of the South West Trust,
was
or
bank
preferred'
to
ordinary
the
Manufacturers Trust.
largest distribution
60%.
an
June
C.
Edwin
Kaye,
heretofore
Executive
Vice-President
in¬
the
30.
has been elected President of the institution to
of
City National Bank & Trust Co. of Battle Creek, Mich.,
succeed the
Volume
Financial
143
continued, in part:
circumstances it was the second promotion this
was
advanced from Cashier to Executive Vice-
vestor" of Oct. 3.
By
The paper
combination
a
July
in
for
year,
"Michigan In¬
it is learned from the
late Charles C. Green,
of
he
as
he
State
He
1907.
in
started'
the
he
When
Manistique
the
left
bank in 1922 to
join
Cashier.
He rose rapidly
Banking Department until he became Deputy Commissioner under
the
in
National Bank & Trust Co. on May 1, 1930,
obtained his early training1 in Manistique, where
Kaye joined the City
vice-President.
a
Banking Department he was Assistant
E. Reichert.
McPherson and R.
Hugh A.
Peoples
appointed Cashier of the
Floria was recently
A.
Vernon
H.
of Munising, Mich., to succeed H.
Bank
State
McMillan, who resigned the office after 26 years of service,
according to the "Michigan Investor" of Oct. 3, which fur¬
ther said, in part:
The appointment of Mr. Floria brings him back to the bank where he
was employed for
18 years.
From July 30, 1926, to March, 1935, he was
Since then
Assistant Cashier.
of
the
United
of John
in charge of the Ironwood
he has been
Service.
Forest
States
election
The
.
.
office
'
.
Snyder, receiver for the Grand
W.
National Bank of St. Louis, St. Louis, Mo., as a Vice-Presi¬
of
dent
Trust
Union
the
announced
on
of
Co.
East
St.
Louis,
111.,
was
Oct. 2, it is learned from the St. Louis "Globe-
Democrat" of Oct. 2, which added, in part:
Mr.
was
conservator of the Grand National in March, 1933, at the time
banking holiday.
In March, 1934, when the bank was
Federal
the
receivership,
placed in
He
who resides at 7300 Pershing Avenue, University City,
Snyder,
appointed
of
formerly
troller
Mr.
Snyder
appointed receiver.
was
connected
been
had
the
of
with the
office
the
of
Federal
Comp¬
Currency.
J. F. T. O'Connor,
Comptroller of the Currency, on Oct. 1
regards the affa'rs of the Central
National Bank of Oakland, Oakland, Calif., now in receiver¬
ship, which said in part:
released
As
was
statement
a
result of negotiations
a
initiated by certain of the shareholders,
approved by this office
the
of
ment
receiver's
final
a
plan
July 8, 1936, which provided for the
on
pay¬
dividend, which
added
releases
previous
to
100%, to be followed by the termination of the receivership.
aggregates
The plan contemplated the withdrawal of a pending appeal by the Central
Co., thereby releasing cash for dividend
in the amount of
purposes
approx¬
imately $450,000, in consideration of which the depositors would be asked
to
execute
voluntary waivers of interest on their claims since the date of
Shareholders owning 9,220 shares of stock designated
suspension.
committee for
...
a
the purpose of obtaining interest waivers and working out
with Receiver J.
to the
H. Grut and the Comptroller's office the details incident
completion of the plqns.
.
.
.
This bank, which suspended as of March 1, 1933, with liabilities exclusive
of liabilities to stockholders
hands of
a conservator
such of $19,813,660.18,
as
for reorganization following
was
placed in the
the "Banking Holiday."
"With the assistance of the local people, a "Spokane" plan was completed on
April 24, 1933, through
of
sale of assets to the newly-chartered Central Bank
a
Oakland, the proceeds of which
70% to the general creditors.
were
liquidating the remaining assets.
was
authorized
on
May 8, 1933, J. H. Grut
of collecting the stock assessment
purpose
and
on
used to provide an initial release of
Following this
appointed Receiver for the
was
Since his appointment, the Receiver
April 19, 1935, to pay a second dividend of 15%, which,
together with the final dividend made possible through the completion of
the present plan, means the payment of
the creditors in full.
There have been banks with larger totals than this
a
.
.
instance, the creditors will receive in due
or
due
course a
.
In this
notice from the Receiver
before October 15, to call for checks representing the total balance
on
their claims, and I feel sure that such announcement will
be
a source
of as much satisfaction to those who have had a hand in making this possible
as
it will be to the creditors themselves.
A
Oregon
new
institution,
banking
of Bend,
Bank
the
Oct. 1. The new institution is capi¬
talized at $50,000, with surplus of $10,000.
Frank S. McGarvey is President, the other officers being:
Clarence L.
Mannlieimer, Vice-President; Carl B. Hoogner, Cashier,
and Eleanor Beclien and Duane Eames, Assistant Cashiers.
The Portland "Oregonian" of Oct. 2 continued:
opened for business
Opening
years
sold
with
to
the
branch.
some
stationed
National
McGarvey
ago
of
with
here
the
institutions, the
Portland being the .other.
Portland,
resigned
return
to
Reno
two financial
Bend
of
the Lumbermens
National
Lumbermens
in
of
President
First
Mr.
weeks
america
First National
was
tJie
on
bank gives
this
of
branch of the
for
quite pronounced.
Specialties moved to the front in a slightly irregular
market on Monday.
Trading simmered down somewhat
from the brisk dealings on Friday but there was considerable
buying apparent and several prominent issues broke into
new high ground for the year.
Scattered profit taking ap¬
peared from time to time, but the market was strong enough
to absorb most of it as the day progressed.
Public utilities
and;
later
and
18
last.
assistant
head the
National of
new
that
Mr.
of
Bend
Mr. McGarvey
Bank,
manager
Bank of America
from
First
Jan.
National
which
was
Hoogner
was
of
the
Bend
San Francisco
bank.
He had been
city, owned by Trans-
Corp.
THE
slightly irregular and most of the shares in the preferred
that showed signs of strength last week were off on
the day.
Blumenthal reached a new high level at 32 during
the morning but dropped back to 29% at the close and
registered a loss for the day. Jones & Laughlin Steel dropped
2% points to 74% and Colt's Patent Fire Arms at 46 was
were
group
close to its low for the year.
Industrial
specialties continued
to climb upward on
prices were moderately firm all along
there were a number of the trading favorites that
forged ahead to new high levels for 1936.
These included
among others Singer Manufacturing Co. which advanced to
a new peak at 395 and Pepperell Manufacturing Co. which
broke into new high ground at 1093^ at its top for the day.
Oil shares were fairly strong but the gains were not especially
noteworthy except in Gulf Oil of Pennsylvania which jumped
2 points to 101 % at its best for the session.
Other gains
included St. Regis Paper pref., 3% points to 101%; Draper
Corp., 5 points to 81; Mangel Stores pref., 8 points to 95;
Babeock & Wilcox, 3 points to 94, and Fisk Rubber pref.,
2 points to 71.
Buying swung around to the public utilities on Wednesday
though considerable attention was also manifested in the
specialties and in the merchandising stocks. Oil shares were
in active demand at higher prices and mining and metal
issues showed moderate improvement.
The early trading
was
only moderately active but the afternoon dealings
brought a broad wave of buying that carried many stocks
to new high levels for the year.
The best advances were
recorded by Aluminium Ltd. which closed at 59 with a gain
of 4 points, American Gas & Electric pref., 234' points to
111%; American Superpower pref., 234 points to 47%;
Babcock & Wilcox, 2 points to 96; Commonwealth Edison,
2 points to 111; Dennison Manufacturing Co. 7% pref., 3
points to 64 and Western Maryland pref., 3 points to 107.
Despite the irregular price movements and the reduced
volume of dealings, there were numerous new tops recorded
during the trading on Thursday.
Public utilities were again
in demand and some of the low priced issues were turned
over in moderately large volume and substantial gains were
registered by Electric Bond & Share pref. (6) which advanced
3% points to 86% and Cities Service pref. which improved
2 % points to 58.
Duke Power which climbed up 2 points
to 80 and Public Service of Northern Illinois (2) which had
Tuesday, and
CURB EXCHANGE
The
upward trend continued on the New York Curb
during much of the present week, and as the volume
of sales gradually worked forward, many new tops for 1936
were established.
There were occasional periods of irregu¬
larity due to profit taking but this, as a rule, was quickly
absorbed as the market improved.
Industrial specialties
were in sharp demand at advancing prices and public utilities,
particularly the preferred stocks, showed a number of new
tops.
Oil shares registered some gains, but the advances
were spasmodic and
were confined to a few of the more
market
while
the line,
overnight gain of 8 points to 77.
Specialties also attracted
attention, Ainsworth Manufacturing forging
an
placed in the hands of
receiver, but they have not so far paid their creditors in full.
on
new peaks were reached by Associated Gas & Electric
pref., Public Service of Indiana pref. and Brazilian Traction,
Light & Power.
Oil shares showed improvement and the
buying interest in the specialties and mining and metal stocks
and
was
President.
Mr.
2307
Chronicle
considerable
points to 74, Blumenthal 4 points to 34%,
Laughlin Steel 3 points to 78 and Sanford Mills 6
ahead 13
&
to 71.
The trend of the
buying and a number of the more active issues in this group
registered substantial advances.
These included among
others A. M. Castle (3), 2% points to 56%; Lane Bryant
pref., 8% points to 9634; Dennison pref., 3 points to 67;
Commonwealth Edison, 4 points to 115, and Gorham Manu¬
facturing Co., 2% points to 24%.
As compared with Fri¬
day of last week the range of prices was higher, American
Cyanamid B closing last night at 35% against 34% on
Friday a week ago, American Gas & Electric at 41% against
40%, American Light & Traction at 24% against 22%,
Atlas Corporation at 15% against 15, Central States Electric
at 2% against 2, Cities Service at 434 against 4, Common¬
wealth Edison at 115 against 107, Creole Petroleum at 29
against 2734. Electric Bond & Share at 24 against 23, Fisk
Rubber Corp. at 8% against 7%, Ford of Canada A at 25%
against 24%, Gulf Oil of Pennsylvania at 100% against 99%,
Hudson Bay Mining & Smelting at 29% against 29%,
Humble Oil (New) at 66% against 63%, International Pe¬
troleum at 36 against 35%, New Jersey Zinc at 77%, against
74%, Newmont Mining Corp. at 93% against 88%, Niagara
Hudson Power at 15% against 14%, Sherwin Williams Co.
at 130% against 129%, Standard Oil of Kentucky at 19%
against 18% and United Shoe Machinery at 89% against
.
89%.
DAILY
TRANSACTIONS
AT
THE
NEW
YORK CURB
Bonds (Par
Stocks
EXCHANGE
Value)
(Number
upward during the brief
session on Saturday, and while the volume of dealings was
moderate, there was a fairly large list of new tops in evidence
as the trading closed.
Prominent in this group were such
The market continued to move
favorites
market continued to point upward on
Friday, but with the exception of a few of the speculative
favorities, the gains were small and without special signifi¬
cance.
Industrial specialties were again prominent in the
active issues.
market
Jones
points
as
American
Potash &
Chemical,
Atlas
Plywood, Crane Co., Mueller Brass, Jones & Laughlin Steel,
Hudson Bay Mining, Detroit Steel Products and Brown
Forman Distillery.
Public utilities were in sharp demand
Week Ended
■
of
Shares)
Oct. 9, 1936
Monday
Wednesday
Thursday
Total
Foreign
Governm't
$6,000
85,000
369,390
502,005
522,840
659,369
Saturday
Tuesday
Friday
Domestic
-
$1,602,000
2,225,000
2,836,000
3,408,000
546,530
530,350
2,814,000
2,821,000
104,000
99,000
3,130,484 $15,706,000
$394,000
Foreign
Corporate
$23,000
34,000
46,000
18,000
54,000
55,000
36,000
33,000
Total
$1,631,000
2,344,000
2,900,000
3,517,000
2,954,000
2,953,000
$199,000 $16,299,000
2308
Financial
Chronicle
Oct.
The following
Sales at
Week Ended Oct. 9
Jan 1 to Oct. 9
10,
1936
the United Kingdom imports and exports of gold
were
registered from midday
Sept. 14 to midday on Sept. 21:
on
New York Curb
1936
Exchange
Stocks—No. of shares.
1935
3,130,484
1936
1,587,186
Imports
Tanganyika Territory.
1935
100,248,702
48,765,822
Bonds
Domestic..
$15,706,000
394,000
$16,332,000
202,000
165,000
$639,139,000
14,540,000
9,899,000
$900,510,000
199,000
$16,299,000
$16,699,000
$663,578,000
$923,212,000
Foreign government..
Foreign corporate
Total...
12,695,000
10,007,000
Exports
Kenya
Uganda Protectorate
British India
Australia
New Zealand
Germany
Netherlands
Belgium
France
Switzerland
British South Africa
Belgian Congo
Iraq
We
Other countries
-
.
drafts, with securities attached, drawn
their
on
Venezuela
purchase from Brokers and Investment
Firms
British India
Finland.
France-
£14,032
9,578
6,370
439,192
53,957
33,090
400,941
32,490
15,450
2,740,107
24,414
1,704,199
79,925
3,017
3,549
2,346
.
£1,700
22,249
74,050
Switzerland.
United States of America.
147,125
567,428
5,600
10,030
4,074
_
Germany
N etherlands
Other countries
Ar;:;
£832,256
£5,562,657
foreign correspondents and clients.
The
SS.
Rajputana which sailed from
Bombay on
Sept
19
.
carries
gold to the value of about £409,000 consigned to London.
MANUFACTURERS TRUST COMPANY
The following
Kingdom imports and exports
of gold for the month of August 1936:
HEAD OFFICE AND "FOREIGN DEPARTMENT:
55 BROAD
the details of United
are
Union of South Africa
British West Africa
STREET, NEW YORK
Member Federal Reserve System
Member New York Clearing House Association
Imports
£5,895,222
251,316
444,771
30,673
...
Southern Rhodesia
Tanganyika Territory
Kenya
Member Federal Deposit Insurance
Corporation
15,806
2,870,445
38,136
37,300
412,707
105,752
"20,008
24,543
458,548
56,672
16,152
134,865
British India
British Malaya
Hongkong
Australia
FOREIGN
Pursuant to the
Act of
EXCHANGE
RATES
requirements of Section 522 of the Tariff
now
certifying
daily to the Secretary of the Treasury the buying rate for
cable transfers in the different countries of the world.
give below
FOREIGN
We
record for the week just passed:
a
EXCHANGE
BANKS TO
CERTIFIED
RATES
BY
1936, TO OCT. 9,
FEDERAL
RESERVE
1930
Belgium
Belgian Congo
-
Portugal
Italy
Egypt
Oct. 5
Oct. 6
$
$
$
18,020
Oct. 8
$
$
Prices have continued to move
.187916*
.187642*
.187716*
.187733*
.187614*
.187616*
.167961
.168146
.168207
.168188
.168226
.168326
.012875*
.012750*
.012750*
.012875*
.012750*
.040783*
.040328*
.037850*
.037600*
.036142*
.036528*
.220154
Switzerland, franc
Yugoslavia, dinar
.219666.
.218958
.218250
.218491
on
mostdays'of the
I.905083
.021608*
.046692
.046694
.401692
.401476
.008954*
.008975*
.532307
.531407
.197625*
.197625*
.052605
.052604
.245907
.246425
.188233*
India
has
has
been
► The
resold
but
evidence
in
inclined to
has
also
dollar-sterling
which
level
American support
bears
also
have
forthcoming
readily"ivailable'in
to'check any marked downward^ movement of silver prices .jm
were"the*United'Kingdom imports"and exports of silver
Imports
.044472*
Exports
Canada
Netherlands
£6,560
28,100
1,492
Other countries
British India
£131,980
France
13,425
5,000
193,390
2,070
1,750
4,485
Liberia.
United States of America.
.252841
.230039
.229928
.230271
.230132
.230082
.230321
.022920*
.022910*
.022920*
.022910*
.022920*
_
Sweden..
.022860*
Egypt
Other countries
China—
Chefoo (yuan) dol'r
.293083
.292950
.293416
.293416
.293216
Hankow(yuan) dol'r
.293083
.293150
.292950
.293416
.293416
.293216
.293083
.293150
.292950
.293416
.293416
.293216
1
.293150
.293083
.293150
.292950
.293416
dollar..
.304650
.304862
.304637
.304125
.304062
.303108
India, rupee
Japan, yen
""
Singapore (S. S.) dol'r
.372315
.371885
.370345
.369200
.369465
.370095
.287355
.287212
.286485
.285875
.285970
.286560
.578212
.577712
.575262
,573375
.573775
.574950
Hongkong,
.293416
Australasia—
Australia, pound
3.930000*3.919375*3.908875*3.896875*
New Zealand,
pound- 3.960625* 3.948000 * 3.937500* 3.925375*
Africa—
.293216
901000*3.908281*
928250*3.939125*
.
i
i
South Africa, pound__ 4.873333* 4.863750*
4.850208* 4.835208* 4.839895* 4.850416*
America—
1.000820
1.000351
1.000116
1.000130
.000765
1.000716
.999000
.999000
.999000
.999250
.999250
IN
m
r*1
.277333
.277333
.277500
.277500
Oz. S d.
Cash
2 Mos.
Sept. 17
19 7-16d.
Sept. 18
19 7-16d.
Sept. 19____.19%d.
Sept. 21
19 7-16d.
Sept. #22
.19Md.
Sept. 23
19 7-16d.
Average
19.458d.
.998515
.998218
.997592
.997562
.998367
.328750*
.327066*
.326233*
.326366*
.326787*
.087095*
.328525*
]
.087095*,
.058300
.058500
.051733*
.051733*| .041733*
.555300*, .555300*
19 7-16d.
19%d.
19 7-16d.
19%d.
19 7-16d.
Sept. 16
Sept. 17
Sept. 18
Sept. 19
Sept. 21
Sept. 22...
45 cents
45 cents
..45 cents
...45 cents
45 cents
45 cents
19.458d.
exchange
on
New York recorded during the period
.998281
Argentina, peso
Brazil (official) milreis
(Free) milreis
Chile, peso
Colombia, peso
Uruguay, peso..
(Per Ounce .999 fine)
19 7-16d.
.277333
Newfoundland,
IN NEW YORK
Bar Silver per
v
£352,100
LONDON
.999250
.277666
"
£36,152
Quotations during the week:
The highest rate of
Canada, dollar
Cuba, peso
Mexico, peso..
Whilst
_
the event of any further
of^sterling, it is anticipated that_ample support_would_be
~The following
.007333*
Shanghai (yuan) dol
Tientsin (yuan) dol'r
been
registered from,vmidday on Sept. 14 to midday on Sept. 21:
.007316*
.252330
at
exchange^remains _an^important_ factor.
silver is likely to prove more
appreciation
.188300*
a
bought moderately.
19 7-16d.
at
cover.
.044366*
a
proved'difficultTsellers predominating
"ht the higher, and buyers at the lower, figure.
.012750*
.021566*
only between 19 7-16d. and 19%d. and
week business has
.218991
Asia—
North
£4,577,949
SILVER
Oct. 9
$
.894541
"lb",124
£60,022,630
Other countries
Oct. 7
England, pound sterl'g 4.931916 4.919250 4.905666 4.890000
.021645* .021666* .021608* .021508*
Finland, markka
.046696
.046702
France, franc
.046750
.046686
.402025
Germany, reichsmark .402115
.401907
.402016
.009020* .009020* .009012* .008970*
Greece, drachma
.529485
.525135
Holland, guilder
.530835
.531457
.197800* .197625* .197625* .197750*
Hungary, pengo
Italy, lira
.074472* .052590
.052600
.052591
.247750
.247245
Norway, krone
.246425
.245679
Poland, zloty
.188366* .188316* .188116* .188150*
.044516* .044650*, .044566* .044400*
Portugal, escudo
Rumania, leu
.007250* .007308* .007283* .007308*
a
a
Spain, peseta
a
a
Sweden, krona
.254234
.253704
.252900
.252091
249
3,057,135
45,778
20,042
York
■
Czechosl-kla, koruna.
Denmark, krone
89,833
318,474
240,352
12", 095
693,880
Unit
Oct. 3
103,400
552,065
135.680
48,051,232
286,687
100,000
.
Money
Europe—
Austria, schilling
Belgium, belga
Bulgaria, lev
£42,617
10,000
Finland
France
China.
United States of AmericaVenezuela
V;
1936, INCLUSIVE
Noon Buying Rate for Cable
Transfers in New
Value in United States
Country and Monetary
-
Netherlands
Switzerland.
TREASURY UNDER TARIFF ACT OF
OCT. 3,
New Zealand
British West India Islands and British Guiana.—
Trinidad & Tobago
Germany
1922, the Federal Reserve Bank is
Exports
.
dollar
South America—
*
a
.555300*
I
.087095*
.087095*
.087291*
.058340
.058600
.058500
.051733*
.051733*
.051733*
>97916* >97916*' >97916*
.556625*
.556300*
.556000*
.797916*
.797916*
.797916*
Nominal rates; firm rates not available,
THE
ENGLISH
reprint
GOLD
AND
SILVER MARKETS
the
following from the weekly circular of
Samuel Montagu & Co. of
London, written under date of
Sept. 23 1936:
i
The
GOLD
Bank of England
S43.269
on
Sept.
16,
gold
reserve
compared
as
Course of Bank
Clearings
NBank clearings this week will show an increase
compared
with a year ago.
Preliminary figures compiled by us, based
telegraphic advices from the chief cities of the country
today (Saturday, Oct. 10)
bank exchanges for all cities of the United States from which
it is possible to obtain weekly returns will be
27.1% above
those for the corresponding week last year.
Our preliminary
total stands at $5,610,287,215, against
$4,412,876,500 for
upon
indicate that for the week ended
No rates available.
We
$5.07% and the lowest $5.05%.
.087291*
.058300
from Sept. 17 to Sept. 23 was
the
same
week in 1935.
week ended
At this center there is
Friday of 2.6%.
Purchases
of
bar
gold
as
'with
announced
£246,524,329
on
the
the week follows:
£246,-
Clearings—Returns by Telegraph
Per
Week Ending Oct. 10
previous
by the Bank
1936
1935
$2,689,924,086
258,981,967
295,000,000
173,218,000
71,583,277
69,500,000
109,258,000
101,898,098
New York
Cleveland
week
prices have
premium
Heavy withdrawals from
the returns of that
over
gold exchange parities.
the Bank of France continue
to be shown
Institution, and the Paris-New York
around 15.19.
-
-
.
Sept. 17
Sept. 18
Sept. 19
Sept. 21
Sept. 22
Sept. 23
Average
_
■
■
Per Fine
Ounce
137s. 4d.
Equivalent Value
of £ Sterling
137s. 5%d.
12s. 4.46d.
12s. 4.33d.
137s. 4%d.
137s.14d.
12s. 4.42d.
12s. 4.46d.
137s. 4%d.
12s. 4.42d.
137s. 2%d.
137s. 4.16d.
12s. 4.60d.
12s. 4.44d.
41,615,000
$2,622,576,238
188,794,735
244,000,000
150,701,000
69,893,319
58,700,000
108,183,000
73,721,653
53,395,900
52,218,045
45,089,953
43,279,000
$4,009,272,701
665,966,645
$3,710,552,843
554,927,720
+20.0
$4,675,239,346
935,047,869
$4,265,480,563
147,395,937
+534.4
$5,610,287,215
$4,412,876,500
+27.1
Chicago..
Philadelphia
Boston
Kansas
_
_
City
St. Louis
.
.
San Francisco
by
rate remains at
Quotations during the week:
«•
72,669,915
68,138,354
57,486,004
New Orleans
the
In the open market about
£1,160,000 of bar gold was disposed of at the
daily fixing.
Demand still continues on special account and
a
Cent
Baltimore
during
£757,568.
been maintained at
gain for the
/
against notes amounted to
Wednesday.
amounted to
a
Our comparative summary for
Pittsburgh.
:
-
Detroit
Twelve cities, five days
Other cities, five days
Total all cities, five days
All cities, one day.
Total all cities for week
—
+2.6
+37.2
+20.9
+ 14.9
+2.4
+ 18.4
+ 1.0
+38.2
+36.1
+30.5
+27.5
—3.8
+8.1
+9.6
Volume
Financial
143
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
cases
2309
Chronicle
Our usual
monthly detailed statement of transactions
the New York Stock Exchange is
September and the nine months of 1936 and 1935
we
final and complete
previous—the week ended Oct. 3.
the
week
For that week there
was an
increase of
10.6%, the aggregate
of
clearings for the whole country having amounted to
$7,230,977,911, against $6,535,056,693 in the same week
in 1935.
Outside of this city there was an increase of 14.4%,
the bank clearings at this center having recorded a gain of
8.4%.
We group the cities according to the Federal Re¬
serve districts in which they are located, and from this it
appears that in the New York Reserve District (including
this city) the totals record an increase of 8.5% and in the
Philadelphia Reserve District of 14.2%, but in the Boston
Reserve District the totals show a decrease of 0.5%.
The
'Cleveland Reserve District has managed to enlarge its totals
by 21.1%, the Richmond Reserve District by 13.9% and the
Atlanta Reserve District by 16.1%.
In the Chicago Re¬
serve District there is a gain of 31.2% and in the St. Louis
Reserve District of 17.7%, but in the Minneapolis Reserve
District there is a loss of 6.6%.
aThe Kansas City Reserve
District registers a falling off of 0.1%, but the Dallas Re¬
serve
District enjoys an increase of 29.1% and the San
Francisco Reserve District of 9.1%.
In the
following
we
furnish
a summary
given
Nine Months
September
Description
Stocks, number of shares.
231,928,172
352,984,228
34,726,590
30,872,559
1935
1936
1935
1936
present further below, we are able to give
for
are
below:
Month of
however, which
on
The results for
has to be estimated.
In the elaborate detailed statement,
results
appended.
Bonds
Railroad & misc. bonds._ $250,571,000 $158,239,000
State, foreign, &c., bonds
27,134,000
64,422,000
23,569,000
30,875,000
U. S. Government bonds.
$2,119,361,000 $1,579,111,000
242,089,000
285,983,000
230,931,000
582,231,000
$305,015,000 $249,795,000 $2,592,381,000 $2,447,325,000
Total
The
volume
share
in
transactions
of
New York Stock Exchange for the
1933 to 1936 is indicated in the
properties
the
on
nine months of the years
following:
1936
1935
1934
1933
No. Shares
No. Shares
No. Shares
No. Shares
19,409,132
15,850,057
54,565,349
56,829,952
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
by Federal Reserve
18,718,292
19,314.200
67,201.745
60,884,392
51.016,548
Month of January
14,404,525
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
26,563,970
30,872,559
29,427,720
21,113,076
16,690,972
12,635,870
120,271,243
42,456,772
43,333,974
quarter-
Six months
districts:
July
SUMMARY OF BANK
CLEARINGS
August
September
Inc.or
Week Ended Oct.
Federal
1st
Reserve
Boston
1935
Dec.
1934
S
$
%
S
12 cities
Third quarter.
1933
S
Dlsts.
34,726,590
r
.
1936
3, 1936
42,925,480
284,750,708
286,137,314
—0.5
260,329,351
New
York. 12
"
4,577,690,765
4,216,095,748
+8.5
3,014,010,095
3,323,232,740
Philadelphia 9
44
470,239,342
411,809,109 +14.2
316,463,548
288,557,361
4th
Cleveland.. 5
"
313,934,200
259,214,766
4-21.1'
210,020,542
195,207,790
5th
Richmond .6
"
155,531,860
136,501,109 +13.9
128,459,691
107,079,790
50,439,918
206,061,989
231,928,172
263,717,240
546,921,118
104,810,282
6th
92,229,688
352,984,228
_
266,045,480
2nd
3rd
Nine months
Atlanta
10
"
153,880,275
18
44
547,491,829
358,929,207
4
"
159,334,716
135,399,849 +17.7
9th
CLEARINGS
MONTHLY
296,538,068
St.
following compilation covers the clearings by months
97,643,915
Chicago
132,493,405 +16.1
417,199,314 +31.2
117,234,253
7th
8th
The
since Jan. 1, 1936 and 1935:
Louis..
117,288,372
98,374,926
Minneapolis 7
"
104,740,331
112,147,992
-6.6
92,914,786
83,783,136
10th Kansas City 10
11th Dallas
5
44
130,521,168
130,544,618
—0.1
115,835,001
93,013,938
44
66,725,792
12thSan Fran.. 11
44
266,136,925
Total
109 cities
7,230,977,911
Outside N. Y. City
Canada
2,791,079,221
32 cities
399,673,811
51,685,458 +29.1
59,371,637
200,731,973
4,991,588,556
5,062,607,081
2,084,997,914
1,840,332,622
+6.6
409,555,423
341,763,930
243,828,011
for
September.
tbe entire
374,888,829
For that month there
was an
increase
body of clearing houses of 14.8%, the 1936
aggregate of clearings being $26,283,581,210 and the 1935
aggregate $22,887,639,911.
In the New York Reserve Dis¬
trict the totals show
a
gain of 12.2%, in the Boston Reserve
District of 15.7% and in the Philadelphia Reserve District
of
$
16.6%.
The Cleveland Reserve District records an ex¬
pansion of 22.5%, the Richmond Reserve District of 18.8%
and the Atlanta Reserve District of 25.3%.
In the Chicago
Reserve District the totals are larger by 20.7%, in the St.
Louis Reserve District by 25.6% and in the Minneapolis
Reserve District by 0.1%.
In the Kansas City Reserve
District the improvement is 13.4%, in the Dallas Reserve
District 38.7% and in the San Francisco Reserve District
17.8%.
$
$
$
%
1936
September
1935
Inc.or
Dec.
September
9,327,878,816 +15.4
7,940,213,169 + 18.4
9,317,720,772 + 11.1
1st qu.
80,357,342,147 72,675,602,661 + 10.6 30,516,475,972 26,585,812,757 +14.8
+7.9 10,765,917,637
27,552,753,462 25,534,404,085
23,981,565,914 20,792,170,354 + 15.3 9,399,170,788
March. 28,823,022,771 26,349,028,222
+9.4 10,351,387,547
+8.9 10,751,206,952
April.. 26,954,628,002 24,751,406,537
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 11451*060,549
6
qu.
80,102,437,056 73,979,907,639
+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
+3.9 11,729,592,194
27,177,898,681 26,161,329,201
Aug— 23,454,481,321 24,258,203,163 —3.3 10,675,793,473
26,283,581,210 22,887,639,911 + 14.8 10,996,904,670
Sept
July
..
-
-
76,915,961,212 73,071,172,275
+5.3 33,402,290,337 28,640,671,476 +16.6
237375 740,415 219962 682,575
+7.9 96,039,435,370 83,565,632,950 + 14.9
The
of bank clearings at
course
last four years
leading cities of the country
September and since Jan. 1 in each of the
is shown in the subjoined statement:
BANK CLEARINGS AT LEADING
1936
(000,000s
CITIES IN SEPTEMBER
Jan. 1 to Sept. 30
Federal
Reserve
Boston
NewYork._13
3rd
4th
$
$
Dists.
1st
778,908,082
882,901,195
11,978,915,924
1,140,801,149
12,817,312,040
1,248,707,165
1,019,716,20 +22.5
794,733,482
773,368,011
562,509,562
473,338,327 +18.8
437,714,847
343,731,113
656,505,090
523,827,234
+25.3
433,759,543
366,443,763
15,776,701,363
Philadelphial2
44
Cleveland.. 14
44
5th
Richmond.
8
44
6th
Atlanta
16
44
Chicago...25
44
8th
St.
9th
Louis..
5
1,656,555,151
+20.7
1,413,328,990
1,263,815,897
44
2,000,298,308
624,130,813
496,997,033
+25.6
+0.1
+13.4
+38.7
+ 17.8
436,883,350
379,476,910
395,877,504
354,691,366
596,171,015
328,824,213
291,430,526
Chicago
44
457,564,868
457,031,424
44
759,834,961
670,316,453
44
475,361,843
342,816,567
12th San Fran..20
44
164 cities
1,148,958,113
975,643,859
26,283,581,210
22,887,639,911
Outside N. Y. City
10,996,904,670
+ 14.8
9,243,073,757 + 19.0
850,212,519
757,401,689
19,586,130,618
19,732,428,383
7,274,653,380
932
840
11,322
9,551
8,224
7,140
674
774
8,539
7,634
7,199
6,933
1,495
1,278
1,093
983
13,575
12,335
10,747
9,231
316
274
245
3,266
2,877
2,546
2,118
4,787
2,790
522
32 cities
1,710,895,153
We append another
1,333,825,079 +28.3
1,302,442,961
1,232,276,656
table showing the clearings by Federal
Cincinnati
9 Months
9 Months
Inc.or
1936
1935
Dec.
Boston
2nd
NewYork__13
44
3rd
Philadelphlal2
44
14 cities
$
9 Months
1934
1933
Cleveland.. 14
44
5th
Richmond
44
Atlanta
16
44
6,271,738,374
4,520,502,671
Chicago
24
44
18,034,523,587
15,154,242,361
St.
9th
+16.6
+19.0
+ 15.0
+9.5
+ 12.5
+23.8
5,101,194,772
4,435,144,459
Minneapolis 13
44
3,818,979,879
3,488,735,517
10th KansasCityl4
11th Dallas
10
44
6,732,508,239
5,984,508,850
44
3,697,902,952
2,987,861,783
12th San Fran..20
44
9,494,498,958
8,275,273,441 +14.7
^Total
Louis..
5
8,302,380,588
3
7,983,359,074
9,948,192,958
+3.7 126,990,660,329 121,476,496,655
145,602,683,981 140,406,914,642
9,694,679,460
14,176,626,063 12,859,933,304 +10.2 11,232,235,325
.8,783,949,424 +22.3
7,652,889,167
6,437,172,415
10,744,167,805
4,194,749,727 +13.3
3,773,921,344
2,971,326,472
4,752,722,847
4th
8th
5,257 1 4,669
4,010
3,407
225
203
171
2,408
2,130
1,958
1,494
196
164
156
2,079 If 1,796
1,565
1,345
317
243
3,519
3,237
2,704
2,107
375
New Orleans
Louisville
Providence
44
164 cities 237,375,740,415 219,962,682,575
3,919,865,803
96,039,435,370
3,190,511,336
3,034,544,185
2,656,379,090
5,152,465,299
13,868,368,329
12,134,023,577
....32 cities
+14.3
1,864
1,983
1,850
989
883
339
270
244
3,893
3,297
110
92
79
1,169
1,005
► 870
135
115
89
1.228
1,092
1,038
713
33
27
28
381
327
297
276
2,6761
658
1,276
663
82
47
750
508
413
106
1,221
1,069
1,000
896
97
93
69
927
859
753
536
127
..
57
104
110
..
66
120
103
90
80
1,049
891
752
603
358
606 ;»r
.J.
Seattle.
49
41
618
531
446
157
108
1,296
1,190
1,096
70
Memphis
55
154
69
Richmond
69
|54
pi 643
132
106
931
1,262 J
899
[534 B |498
369
1,052
859
'727
Salt Lake City..
64
|55
48
40
536
465
391
325
Hartford
42
40
32
31
439
403
324
315
2,719,665,240
5,984,346,251
Other cities...
2,125,939,560
7,242,342,484
11,506,041,367
10,867,315,786
23,981 21,045 17,983 18,289 218,159 203,409
Total
3,970,244,168
83,565,632,950 + 14.9
Canada
2,224
2,202
1,199
141
...
Denver.
9,961,711,038
+7.9 196,789,800,624 179,416,581,516
73,301,734,627 61,239,854,381
Outside N. Y. City
2,452
2,412
77
2,964,415,997
12,838,518,397
3,930,312,463
3,048
252
102
133
..
..
233
265
|137
..
241
123
409
..
305
159
..
..
275
290
42
Cleveland
Buffalo
9 Months
$
8,870,866,396 + 12.1
6th
7th
415
City
Indianapolis
$
Dists
1st
8
457
248
-
St. Paul
_
3,819
530
271
Milwaukee
Reserve districts for the nine months for four years:
Reserve
331
3,312
610
..
..
Omaha
Federal
472
333
347
Baltimore
Detroit
Canada
$
754
..
San Francisco—
Minneapolis
7,965,113,358
1933
$
1,070
..
Pittsburgh
Kansas
1934
141,336 136,397 123,488 118,177
366
—
St. Louis
12,458
872
..
Philadelphia
$
1,282
..
Boston
470,846,460
Minneapolis 13
10th Kansas City 14
11th Dallas
10
Total
1,031,369 413
$
1935
$
1936
1933
..15,287 13,645 11,621
$
880,080,125 +15.7
14,058,059,558 + 12.2
1,333,250,976 + 16.6
1,018,275,475
44
7th
,%
1,554,733,649
14 cities
1934
$
1935
$
S
omitted)
New York
2nd
9,507,726,940 +12.3
9,243,073,757 +19.0
qu.
for the month of
1933
9,889,870,779 + 18.6
mos.
3d
9
9,286,206,357 + 15.8
+4.9
9,737,553,076
9,315,389,284 + 19.7
mos.
2d
September
1934
%
Feb...
September
September
1935
1936
Jan...
We also furnish today a summary of the clearings for the
month of
Clearings Outside New York
...
1935
166,557,525
6,535,056,693 + 10.6
2,439,053,175 +14.4
1936
48,841,920
+9.1
Clearings, Total All
Month
Total all
2,303
1,843
1,603
1,443
19,217
16,554
182,351 167,483
14,439
11,934
-26,284_22,888_19,586J_9,732 237.376J19,963J96,790 179,417
9,243
7,965
7,275* 96,039 83,566 73^302* 61,240
Outside New York.10,997
1
We
now
for each
add
our
detailed statement showing the figures
city separately for September and since Jan. 1 for
two years,
and for the week ended Oct. 3 for four years:
Financial Chronicle
2310
CLEARINGS FOR SEPTEMBER,
Oct. 10, 1936
AND FOR WEEK ENDING OCT. 3
SINCE JANUARY
Nine Months Ended Sept. 30
Month of September
Week Ended Oct. 3
Clearings atInc. or
First Federal Reser
+ 15.7
9,948,192,958
8,870,866,396
+ 12.1
District
368,621,938
315,509,704
39,207,853
44,603,251
1,069,220,558
1,220,541,963
22,301,188
25,567,538
19,981,106
22,053,259
141,336,305,045 136,397,049,625
249,963,186
289,848,118
141,708,556
155,843,500
109,968,746
141,800,648
14,756,158
15,019,030
664,088,727
730,196,580
1,271,063,631
1,278,366,348
31,680,653
34,331,714
—14.4
+ 12.2 145,602,683,981 140,406,914,642
+3.7
New Haven..
Waterbury
R. I.—Providence
N. H. Manchester....
T<j>tal (14 cities)
F' Second Federal Res
Newark..
Northern N. J
Oranges
Total
Third Federal Rese
Pa.—Altoona
erve
Chester
Harrisburg
Lancaster
Lebanon
Norristown
Philadelphia
Reading
Scranton
Wilkes-Barre
York.
N. J.—Trenton
Total (12 cities)
rve
Fourth Federal Res
Meridian..
Vicksburg.
La.—New Orleans
Total (16
cities)
Seventh Federal Re
Mich.—Ann Arbor
Detroit
Flint
Grand Rapids
Jackson
Lansing
Ind.—Fort Wayne
Gary
Indianapolis
South Bend
Terre Haute
Wis.—Madison
Milwaukee
Oshkosh.
Iowa—Cedar Rapids..
Des Moines.
Sioux City
111.—Aurora
4,012,241
2,861,777
1,263,917
8,976,392
4,371,466
8*,"7*38*866
8*,6*80*666
1,569,724
14,497,103
4,106,478
+9*2
588,508
10,392,600
574,579
284,750,708
286,137,314
—0.5
1,343,877
9,548,590
11,352"400
9,540,961
1,191,920
7,522,655
38,700,000
30,700,000
646,675
694,782
+2.4
745,082
500,209
260,329,351
266,045,480
/
19,316,292
44,607,585
6,598,701
6,050,743
1,078,421
1,021,498
26,053,617
+26.1
27,654,386
652,308
563,656
+6.9
507,869
508,163
+13.6
+8.4 2,906,590,642 3,222,274,459
7,858,074
+8.7
8,220,496
4,157,511
5,111,575
+0
—4.5
3,622,227
3,641,439
500,000
360,865
+70.9
17,120,822
16,958,080
+23.8
33,097,836
+0.1
37,039,547
4,577,690,765 4,218,095,748
+8.5 3,014,010,195 3,323,232,740
691,544
1,010,782
789,186
4,439,898,690 4,096,003,518
9,313,190
8,571,274
4,612,652
4,611,995
3,941,169
486,935
23,916,420
44,658,098
4,125,190
285,000
+26.8
+17.9
+ 12.8
+39.2
b
b
—3.9
459,560
376,963
1,896*754
1*5*12*325
+"2*5*4
l",'3"o6"642
1,*144*519
+ 10.1
+5.2
+ 13.4
+ 17.5
+ 17.2
+ 13.6
457,000,000
396,000,000
1,495,320
2,543,991
1,161,339
1,709,071
6,645,000
+ 15.4
—57.5
305,000,000
1,113,579
2,170,451
1,219,271
1,345,219
3,518,000
277,000,000
1,438,555
2,497,230
1,640,193
2,167,817
2,823,000
12,859,933,304
+10.2
470,239,342
411,809,109
+ 14.2
316,463,548
288,557,361
60,780,223
1,796,200,227
2,451,535,557
382,869,500
17,022,962
7,509,170
+23.4
+15.7
+24.3
+ 13.1
+ 13.2
+27.4
14,176,626,063
+23.0
+46.5
+39.3
+33.5
+20.1
+24.5
+ 14.5
74,997,127
2,078,709,961
3,048,104,287
432,871,900
19,263,576
9,567,449
56,460,633
99,103,107
6,917,045
4,205,080
38,061,179
13,565,445
368,814
337,426
»
+ 10.7
—3.8
—1.8
+41.2
+26.8
1,536,717
1,742,433
1,679,965
1,369,950
3,338,000
+26.6
+36.6
+43.0
b
b
b
b
11.166,969
46,228,463
+22.1
80,710,403
b
12,674,700
46,696,442
60,682,231
9,953,400
39,688,404
+26.0
+ 1.5
1,175,574
1,437,631
-18.2
1,171,246
1,046,216
+22.8
5,805,015
3,467,020
8,464,529
+ 14.8
49,815,803
78,524,241
12,488,300
57,172,401
98,933,854
57,422,638
8,021,500
+19.2
b
b
b
b
b
'+21.3
143,977,671
116,948,791
+2*3*1
91,517,223
89,029,032
+22.3
313,934,200
259,214,766
+21.1
210,020,542
195,207,790
285,726
2,527,000
45,079,099
153,524
+86.1
2,600,000
—2.8
+ 16.5
2,357,030
38,695,663
1,498,996
151,756
2,341,000
39,854,226
35,627,126
55,817,493
+84.6
+6.9
+8.9
+ 18.9
+ 17.9
2,129,951,607
+ 13.1
80,44+ 839
71,965*897
-I
11,988,936
677,764,301
+6.7
+21.5
24,840* 166
21,587,029
+ 1*5*1
18,759,698
15*.426*256
155,531,860
136,501,109
+ 13.9
128,459,691
104,810.282
3,108,882
+2.4
+16.0
1,531,876
3,036,411
13,709,839
48,500,000
1,207,327
2,645,365
12,313,266
39,300,000
1,072,758
36,400,000
1,141,230
1,136*987
1,1*3*8*671
—0.1
*972*278
*842*911
14,136,000
11,898,000
+ 18.8
11,080,000
11,905,000
21,*1*67*822
17,*3*81*304
+2*1*8
16,951*055
12*,*24*8*433
1,659,236
1,612,514
+2.9
1,234,516
1,173,433
236,493
40,499,295
178,000
33,831,939
+32.9
132,917
174,881
+19.7
31,712,098
20,076,958
r
r
126.702
10,333,991
7,005,367
7,742,599
270,579,901
1,621,931
89,611,954
+20.2
+ 19.5
+22.3
562,509,562
473,338,327
+ 18.8
4,752,722,847
4,194,749,727
+ 13,3
ve
105,943,865
512,421,469
1,561,600,000
+ 18.5
+ 13.2
+ 17.3
+ 11.2
+22.2
+ 13.2
+20.4
4,520,502,671
+ 16.6
153,880,275
132,493,405
+ 16.1
117,234,253
97,643,915
18,994,078
—27.8
+ 18.1
+28.8
+38.5
183,128
111,572,952
661,716
83,061,687
—72.3
3,297,452,057
+34.3
540,208
65,476,064
50,774,724
3,000*597
3*.*522*539
—14*8
l",860*266
1,403*172
1,691*717
l",6*70*994
+58*6
*721*987
1,037,947
924,636
+ 12.3
677,445
433,805
17,*809",666
15,150*666
+1*7*6
14,*7*74*666
13,442*666
1,282,214
4,468,055
870,666
4,203,485
+47.3
+6.3
760,880
3,575,950
489,531
2,994,423
21,325,547
16,960,815
+*2*5*7
13,948*219
11,74*9*617
1,123*407
993,954
8,529,663
3,636,158
7,829,530
3,084,180
+ 1*3*6
+8.9
+17.9
4*63*938
*357,540
+29*8
*5*37*977
"386*676
364,012,903
272,886,177
603,936
3,127,636
+33.4
+27.3
239,609,419
587,924
201,106,961
+30.7
2,474,647
872,699
+33.6
703,040
1,017,124
+31.0
1,207,370
616,422
815,106
417,199,314
+31.2
358.929,207
296,538,068
District
+13.5
+68.8
+22.4
4,916,948
57,731,850
4,484,341
82,481,379
7,518,062
5,293,684
4,765,000
7,745,737
5.002.352
+14.3
+19.5
+25.1
+9.9
+11.5
+22.2
+31.7
+39.1
+22.7
+20.4
+ 11.6
+ 13.5
+54.8
1,936,271
941,440
158,612,198
1,658,569
530,632
122,722,138
+ 16.7
+77.4
+29.2
125,592,530
580,029,892
1,831,400,000
42,526,849
27,017,254
33,134,361
557,637,434
44,709,666
644,891,430
52,834,043
30,649,672
35,779,000
49,361,038
11,946,959
5,369,962
1,198,858,284
523,827,234
+25.3
5,271,738,374
—27.3
13,711,392
3,892,649,153
41,692,725
106,039,470
16,458,437
55,908,559
40,516,531
104,103,310
617,965,000
46,798,217
180,629,288
34,327,773
750,462,476
16,609,070
39,632,474
227,200,000
656,505,090
serve
District
1,592,002
339,085,006
3,636,670
8,833,252
1.850.786
1,334,647
4,922,057
1,918,140
32,922,048
+57.2
1,085,988
1,070,595
1*1*8
66*.2*6*7",023
52*.*5*36*681
38,240,232
22,117,119
29,281,353
463,307,601
37,687,978
590,917,928
45,642,937
29,913,634
33,935,000
46,052,809
10,234,440
4,554,773
988,651,533
+ 18.6
+9.1
+ 15.8
+2.5
+5.4
+7.2
+ 16.7
+17.9
+21.3
15,903,684
54,500,000
+12.4
+26.9
3,878,406
9,802,663
—Chicago—
1.156.785
409,456,484
3,947,691
12,721,909
6,599,879
4,676,323
11,231,965
69,314,000
4,880,628
19,653,560
3,873,984
81,802,390
1,980,891
4,632,298
31,569,723
14,031,102
1,190,190,222
2,734,000
Atlanta—
12,021,019
58,613,783
181,600,000
5.028.351
3,187,156
4,022,407
43,833,309
3,222,727
67,200,574
6,243,245
4,741,972
4,199,000
13,745,697
70,056,335
3,370,099
8.317,621
55,492,000
3,230,052
17,002,799
3,286,457
66,264,029
1,392,588
3,754,109
28,239,525
1,656,562,151
549,153
2,904,840
93,839,000
1,295,826,409
42,361,524
65,811,302
2,408,176,251
12,787,756
823,586,614
2,000,298,308
Rockford.
606,808
+6.1
+40.6
+ 11.5
+6.5
3,446,949
2,206,610
12,829,896
4,375,064
^ 17.3
Total (24 cities)--..
Peoria..
—24.3
+68.8
Springfield
Decatur.
809,874
3,249,610
665,072
8,214,000
154,239,088
4,149,411
6,327,917
225,104,847
1,357,562
73,280,430
1,232,622
9,631,000
175,084,188
12,049,387
1,326,136
1,510,198
1,069,688,415
2,469,647
11,590,995
3,754,078
4,420,382
Chicago
613,078
-Cleveland-
1,833,641
1,282,157,419
3,487,849
17.541,601
5,005,420
4,973,840
Bloomington
*273*912
*27*2*377
+ 14*5
District— Richmond—
5,523,776
3,552,372
Jackson.....
"
292*386
367,295
5,598,042
87,812,000
ve
(8 cities)
Miss.—Hattiesburg
770,460
2,408,779
234,800,077
588,738
374,769
+ 12.6
+ 15.4
+25.5
+ 14.0
8,783,949,424
C.—Washington
Montgomery
—9.6
"
+21.7
10,744,167,805
Frederick
Mobile
791,931
2,785,014
228,000,000
579,791
*3*34*664
b
10,834,191
67,504,228
+22.5
C.—Charleston
Tampa
Ala.—Birmingham
+4.3
+8.4
1,019,716,204
Columbia.
Fla.—Jacksonville
—0.6
a429,100
+ 16.6
1,333,250,976
+22.0
+ 17.5
+17.0
+24.4
+ 12.1
+15.3
+ 18.9
—0.6
1,248,707,165
Md.—Baltimore
Macon
—18.9
+ 18,2
Richmond
Augusta
Columbus
1,020,854
3,231,194
245,710,000
682,918
352,933
—17.4
+36.0
+ 10.0
59,456,808
W. Va.—Huntington..
Ga.—Atlanta.
$
422,860
18,206,797
12,335,000,000
45,570,154
81,388,435
36,893,492
48,724,399
149,806,100
7,254,628
4,165,787
1,580,595
1,969,309
1,278,000,000
4,139,334
8,462,726
4,065,264
5,191,466
15,822,800
+ 15.0
+ 10.0
+28.9
+ 1.8
+31.9
+25.3
+2.9
Va—Norfolk
Sixth Federal Reser
1933
1934
a597.234
14,378,884
17,495,312
al7,830,800
12,198,458
77,900,079
47,777,779
15,462,206
20,156,947
13,574,775,000
47,939,608
92,321,167
43,346,578
57,108,229
170,144,600
+8*8
+ 10.4
+3.6
+ 16.0
3,819,280,974
44,618,573
Greensburg
Pittsburgh
Ky.—Lexington
W. Va.—Wheeling
Nashville.
+ 15.3
b
1,215,572
827,470
3.370,817
244,188,048
617,204
+ 14.6
4,786,596,631
45,926,207
70,277,833
Franklin
Tenn.—Knoxville
+13.1
+ 12.0
+21.0
+ 17.8
+64.9
+2.0
+19.5
+ 16.5
+ 12.6
+ 13.8
+ 14.2
+38.2
+ 10.6
+15.3
+21.3
i
Youngstown.
Pa.—Beaver County..
Fifth Federal Reser
Philadelphia
1,383,495
+ 13.8
+9.7
+17.8
+ 17.8
471,795,794
3,922,404
6,458,012
Columbus
Lorain...
Total
39,947,872
+ 12.4
—0.1
7,505,240
195,817,651
274,696,896
39,675,000
1,497,685
955,150
5,076,099
10,369,917
669,913
393,056
883,387
Hamilton
D.
10,549,997
5,495,792
+ 11.8
9,231,894
247,957,733
375,238,409
56,716,500
2,196,776
1,330,576
6,774,078
12,457,446
833,936
450,090
1,220,459
521,947,443
4,520,658
7,831,167
Cleveland
Total (14 cities)
District
erve
Cincinnati--
S.
District
1,554,733,649
Ohio—Canton.
Mansfield
2,347,909
15,776,701,363 14,058,059,558
1,594,537
a*2,000,000
1,322,112
8,339,666
5,664,887
1,928,278
2,314,370
1,495,000,000
5,147,528
9,494,677
4,689,257
6,170,837
13,067,500
Bethlehem
,
2,360,793
8,476,305
753,974,768
2,486,678
1,411,149
1,246,484
38,318,919
43,621,030
3,948,737
4,331,790
119,800,000
141,106,412
2,350,369
2,767,867
2,337,229
2,644,466
15,286,676,540 13,644,566,154
26,239,433
31,762,055
16,773,231
14,241,471
10,456,748
17,244,416
1,364,309
1,391,924
64,543,394
77,156,919
147,849,553
126,894,021
2,998,774
3,375,160
(13 cities)
1935
Dec.
%
1936
New York—
Conn.-Hartford
N. J.—Montclair
+5.9
+22.4
880,080,125
Worcester..
Rochester
+25.5
+2.4
+ 15.6
+9.5
+3.2
+7.2
+36.2
1,018,275,475
Springfield
Syracuse
Conn.—Stamford
%
12,586,542
4,964,100
32,653,000
1,578,736
New Bedford.
New York
$
+34.9
+4.6
+16.0
+25.8
+30.0
+26.4
Lowell
Jamestown
$
+5.8
+ 13.1
+8.9
+ 13.8
+31.2
+8.9
+17.3
+18.9
+16.2
+14.7
Fall River..
Holyoke
[ Elmira..
Dec.
22,768,396
65,874,664
7,634,301,520
24,460,651
12,968,135
11,999,514
23,876,853
101,998,497
50,554,085
402,971,265
126,324,090
46,629,100
327,397,600
18,742,026
Mass.—Boston
| Buffalo
1935
24,111,629
80,654,204
8,538,890,342
24,426,791
13,726,235
13,568,810
25,992,587
116,024,649
66,342,912
438,798,381
148,147,816
55,425,300
380,590,300
21,493,002
2,963,269
8,679,657
871,583,967
2,723,512
1,456,713
1,336,572
3,198,293
11,855,882
7,411,823
41,773,488
14,613,810
6,242,500
42,440,500
1,995,489
Portland..
Binghamton
1936
District— Boston—
ve
Maine—Bangor.-
N. Y.—Albany
1935
Dec.
%
1936
Inc. or
Inc. or
+20.8
-1-8.6
+44.0
+38.7
32,367,673
76,586,714
13,781,364
44,982,634
28,626,048
79,372,230
530,835,000
+33.3
+ 12.5
127,688,812
14,628,868
16,384,229
11,322,150,390
30,505,343
161,695,401
40,110,104
45,801,840
33,785,999
154,749,403
27,741,576
605,628,697
14,171,955
33,739,260
282,422,276
106,630,198
11,597,655
13,579,013
9,551,400,643
23,352,977
103,812,264
31,186,023
37,446,624
+19.4
+2.1
+41.5
+31.2
+16.4
+38.5
+ 16.7
+23.7
+23.9
+17.2
+ 17.5
+ 12.6
+ 19.7
+26.1
+20,7
+ 18.5
+30.6
+55.8
+28.6
+22.3
+20.7
18,034,523,587
15,154,242,361
+19.0
+34.1
+38.8
+35.0
+24.9
+51.1
+15.6
+17.9
+23.4
+42.2
+23.4
+ 11.8
+ 16.4
+44.6
+21.4
+19.9
+41.2
+51.3
318,054,725
641,889
763*961
"
986*489
*240*974
7,351,023
3,136,365
5,363,069
2,670,126
"
768,842
4,087,453
1,165,858
1,332,450
547,491,829
471,575
2,235,243
Volume
Financial
V
143
Chronicle
2311
CLE A RIN G S—(Concluded).
Week Ended Oct. 3
Eight Months Ended Sept. 30
Month of August
j
Clearings at—
Inc.
Inc. or
Inc. or
or
1936
Dec.
1936
1935
Dec.
1936
1935
Dec.
1934
$
Eighth Federal Res
1935
$
%
$
$
%
8
$
%
$
Ky.—Louisville
366,031,132
137,055,438
Tenn.—M emphts
118,369,273
111.—Jacksonville
270,970
2,404.000
Ninth Federal Rese
District —Minneapoli
reve
866,744
3,043,690
289,557,374
1,408,121
Minneapolis
Rochester
110,430,766
St. Paul.
N. D.—Fargo
9,552,686
4,842,000
—
2,550,204
19,938,000
+25.6
5,101,194,772
hl3.5
2,877,253,648
1,005,339,255
534,090,060
2,040,496
16,421,000
+70.1
+24.8
H[-16.3
90,700,000
30,500,096
[-20.5
37,594,620
b25.0
b
b
-21.4
540,000
495,000
4,435,144,459
+15.0
159,334,716
110,297,417
2,411,837,698
11,073,055
-926,761,523
78,397,563
95,196,77.8
2,202,398,617
+15.9
+9.5
+20.5
+7.8
3,010,677
68,324,695
27,103*772
21,992,036
2,190,130
2,070,208
38,422,000
33,352,000
6,596,994
23,274,034
62,782,209
23,758,514
28,643,255
94,785,502
5,663,452
21,497,077
45,744,142
+8.3
+37.2
"662", 148
+24.7
+4.9
861*598
—5.3
b
334,000
135,399,849
+ 17.7
117,288,372
98,374,926
-—0.3
—5.0
+29.0
+ 13.8
-
+23.8
+3.6
19.1
9,191,258
3,625,775
—17.0
2,779,928
79,598,590
—14.2
62,106,875
3,257,792
58,002,744
859,460,491
+23.2
+5.8
22,741,767
1,849,456
17,9*75*659
"656*645
+0*8
"507*,514
490,884
*778*904
+1*0*6
"440", 842
384,333
2~,587~3n
+ 15-4
+ 15.2
67,909,683
3**4*2*5*834
—24* 5
2*.4*88+04
1,965*657
112,147,992
—6.6
92,914,786
83,783,136
+24.3
5,212,400
+34.1
+ 15.3
3,489,661
5,247,746
—33.5
11,388,788
—9.3
323.754
12,562,446
305,789
+5.9
2,305,115
19,049,976
27,311,973
100,078,414
1,881,656
457,564,868
457,031,424
+0.1
3,818,979,879
3,488,735,517
+ 9.5
104,740,331
+31.4
+8.0
+ 15.6
4,342,541
3,848,038
3,876,417
+ 12.9
+27.2
+24.3
2,988,563
Helena
Total (13
cities)
Tenth Federal Rese
rve
417,534
548,480
469,260
434,554
12,095,301
10,462,866
134,960,324
Hastings
4,929,887
7,123,206
+22.9
108,843,890
1,228,019,803
105,180,760
84,173,684
11,261,682
13,452,617
—16.3
120,128,504
1,862,794
394,928,097
Lincoln..
1,665,663
+ 11.8
346,982,836
+ 13.8
17,651,741
3.519.407.301
133,461,886
Omaha
Wichita
v
Mo—joplin
Kansas City
—1.1
5,126,160 + 194.3
15,087,449
8,755,790
Topeka.
b
1,706,067
"
+24.9
District— Kansas City
Neb.—Fremont
Kan.—Kansas City
19,666,853
17,874,073
22,928,478
452,000
2,891,224
Great Falls
23,407,894
+9.1
2,447,980
—
60,500,000
b
3,332,260
Sioux Falls
Mont.—Billings—
70,500,000
+ 16.5
-
6,990,221
S. D.—Aberdeen
+ 10.7
+8.7
+50.7
81,900,000
28,064,962
24,939,887
s—
12,369,895
304,717,374
1,091,728
97,069,796
7,715,559
4,672,000
727,487
12,338,803
M inn.—Duluth
1,169,107,227
643.388,493
+29.1
496,997,033
Total (5 cities)
3,266,210,848
+25.1
1,862,000
624,130,813
+ 15.9
315,753,821
109,573,680
69,590,350
217,182
Quincy
$
Louis—
District —St.
erve
Mo.—St- Louis
1933
87,562,096
74,012
98,219
+9.8
121,228
—8.9
95.348
+6.1
2,142,941
1,878,804
107,805
110,398
2,816,579 /
106,728
b
—3.3
27,742,772
23,146,700
2,273*087
2*."811*666 —1*9*1
2*.666"887
1,635*660
2,994,978
3,144,528
—4.8
2,642,441
1,652,830
88,523,526
86,551,854
+2*3
76,802,640
61*.0*1*1* 103
2,673,012
3,012,615
—11.3
3,144,378
2,730,752
*378*997
*5*34*610
—29*6
*6*4*8*699
481*845
30,884,311
29,850,123
+ 12.5
1,092,045,430
51,931,340 + 102.5
—2.3
86,172,856
+ 11.4
107,859,532
+ 17.0
15,081,063
+8.7
3,237,473,911
+5.1
113,625,051
+27.0
250,775,444
21,981,509
+ 12.7
St. Joseph
12,442,673
12,867,343
—3.3
Okla.—Tulsa..
34,967,706
28,646,852
3,051,027
+22.1
+ 17.4
126,629,915
2,599,322
103.286,228
+22.6
24,764,628
1.049.484.302
891,325,509
-1-17.7
4,272,901
2,290,948
+86.5
27,566,249
20,950,654
+31.6
*620*679
576*274
+8*8
*508*167
"462",232
759,834,961
670,316,453
+ 13.4
6,732,508,239
5,984,508,850
+ 12.5
130,521,168
130,544,618
—0.1
115,835,001
93,013,938
51,156,712
30,397,786
—12.1
1,310,598
1,044,025
+25.5
953,357
825,744
+ 12.7
+23.6
53*.3*3*9" 896
39,803,555
+34.0
39*.*65+322
36*.3*9*9*646
Colo.—Colo. Springs-.
Denver
Pueblo
Total (14 cities)
Eleventh Federal R
eserve
119,442,556
318,572,393
i
Distric t—Dallas—
Texas—Austin
3,577,859
+32.9
44,990,421
+21.7
34.249,227
231,466,406
16,042,432
158,872,894
+45.7
13,144,904
Ft. Worth
26,053,867
Galveston
12,624,000
23,757,360
9,069,000
1,287,395,963
Dallas
Houston
Port Arthur
Wichita Falls
La.—Shreveport
....
..
..
159,360,386
1,595,000
3,328,674
15,852,389
116,528,903
3,129,698
10,005,174
+22.0
+9.7
+39.2
+36.8
+26.7
+6.4
+58.4
475.361,843
El Paso
342,816,567
T38.7
•
•
...
1,258,823
"
■
4,109,361
2,940,450
5,460.830
Beaumont
*
1,703,315,933
144,871,516
1,378,291,787
120,516,013
204,137,461
+20.2
+ 15.2
5,533,562
5,762,963
—4.0
14*,0*83*867
6,398*044
+20.2
2,921,000
2,222,000
+31.5
2,325,000
3,217,000
117,441,121
72,196,000
1,010,135,496
12,062,469
28,908,710
80,059,349
3,697,902,952
2,987,861,783
+23.8
17,145,078
+30.5
1,052,460,867
312.461.000
24,034,913
+ 19.8
+8.5
+39.4
40,405,138
+8.2
6,425,466
936,236,791
+19.7
235,116,477
86,773,000
13,999,902
29,749,392
+27.4
+ 16.1
+2.9
+46.7
d
___
cities)
Twelfth Federal Re
serve
District —San
Franci
—31.9
+26.9
2,355,151
2,001,486
66.725,792
51,685,458
+29.1
59,371,637
48,841,920
37*.*676*503
30**926*323
+21*9
26*,022*698
20*.*4*6*6*234
12,078,000
1,347,816
10,082,000
+19.8
8,954,000
4,558,000
844,453
+59.6
823,740
506,513
SCO
*2,900,000
Seattle-
2,171,784
+35.5
160,486,268
48,862,000
Wash.—Bellingham
132,071,315
+21.5
42,411,000
5,797,857
Portland
Utah—Ogden.
_
+ 18.5
848,000
+23.9
141,803,379
Ore.—Eugene
3,667,985
4,836,053
1,051,000
Yakima.
+ 15.2
+58.1
5,731,330
Spokane.
118,811,848
5,182,717
55,206,766
9,047,336
3,685,426
15,373,192
13,736,749
2,783,000
+ 19.4
+2.6
+ 16.3
+29.2
10,921,515
5,319,508
64,201,245
— —
Salt Lake City.
11,691,166
5,843,467
Calif.—Bakersfield
Long Beach..
18,472,663
15,426,666
Pasadena
4,111,000
13.590.422
Berkeley
+58.6
+20.2
+ 12.3
+47.7
22,381,897
1,261,784,860
339,082,000
33,511,004
43,735,232
7,694,000
1,061,872,106
27,956,171
535,852,366
116,284,220
48,780,827
165,328,452
153,137,935
27,726,000
137,450,225
127,487,463
104.223.001
2,751,475
2,364,816
530,476,570
+ 15.0
13.414.423
8,088,329
10,861,054
+23.5
9,522,457
4,414,731
6,772,002
+83.2
+40.6
1,148,958,113
975,643,859
+ 17.8
9,494,498,958
Stockton
Total
(20
cities)
Grand total (164 cities)
26,283,581,210 22,887,639,911
-Outslrle New
10,996,904,670
York
9,243,073,757
CANADIAN CLEARINGS
+21*0
23*.690*233
18,248*026
14,921*116
+8*8
12*.3b"6"225
10*,*514*828
3*.*614*236
3,285*912
+i"o"6
2*.*670 + 16
2.696", 949
3*.1*79*797
3,0*13*646
6*5*5
2*.*50+641
2,421,078
152*,0*68", 163
+3*2
118,921,176
103,1*69*917
3,293,972
147,295,182
2,979,713
2,009,132
+26-3
21,075,473
25,777,396
4,669,361,488
78,719,686
41,714,755
57,287,345
8,275,273,441
+7.9
96,039,435,370
FOR SEPTEMBER,
-f-3.4
1,029,185
817,869
1,741,184
+20.2
1,335,997
1,148,979
243,828,011
+9.1
200,731,973
166,557,525
+ 10.6 4,991,588,556 5,062,607,081
7,230,977,911 6,535,056,693
+14.9 2,791,079,221 2,439,053,175
83,565,632,950
..
+ 14.4 2,084,997,914 1,840,332,622
SINCE JANUARY 1, AND FOR WEEK ENDING OCT.
Nine Months Ended Sept.
Month of September
2,476,962
1,263,979
266,136,925
+ 14.7
+ 10.5
1,306,461
2,093,030
+33.1
+ 14.8 237,375,740,415 219,962,682,575
+19.0
27,480*503
16*23*3*553
+20.3
+20.1
+31.6
+25.4
+24.9
+ 12.6
+26.3
+30.1
609,893,458
Santa Barbara
33*.*245*394
+ 13.4
+8.7
+ 15.2
25,723,227
465,108,818
L.
+24.3
130,658,347
32,196,194
5,256.508,008
99,417,604
54,355,376
76,236,359
San Jose
'
'
93,554,709
38,620,602
+24.4
+ 16.4
San Francisco
Eeek Ended Oct. 1
30
Clearings at—
1935
Toronto
555
,804,588
413,276,810
Montreal-*
445 ,737,018
322 ,727,418
354,129,639
247,217,460
Winnipeg
Vancouver
84
Ottawa
82
Quebec
,179,762
,182,844
16 ,413,775
10 ,382,146
18 ,340,476
30 ,701,028
8 ,214,722
:
Halifax
Hamilton
Calgary
62,695,710
75,005,377
17,067,485
9,288,276
16,949,997
24,820,723
11
,673,576
Edmonton
17
,011,881
Iteglna
35 ,926,115
6.682.765
6,490,194
10,604,462
14,708,542
21,835,548
Brandon
1 ,811,426
1,220,997
Lethbridge
2
St. John
,
Dec.
7 ,273,403
Victoria..
London
+34.5
+25.9
+ 30.5
+34.3
+9.6
—3.8
+11.8
+8.2
+23.7
+22.9
+ 12.1
+ 10.1
+ 15.7
+64.5
+48.4
2,464,114
—6.1
Saskatoon
8 ,911,660
6,916,838
Moose Jaw
3
2,525,890
2,462,749
2,344,847
+28.8
+46.8
+23.6
+35.8
+28.6
,313,377
,706,761
3 ,749,090
3 ,345,531
Brantford
Fort William.
New Westminister
3,032,373
Medicine Hat
3 ,015,617
1 ,188,423
1.541.766
—22.9
Peterborough
2 ,854,435
2,569,056
Sherbrooke
2 ,641,237
2,278,577
Kitchener
4
3,885,549
8,451,251
1,412,383
2,934,120
+ 11.1
+ 15.9
+27.2
+26.7
Windsor
,943,322
10 ,706,083
Prince Albert
1 ,771,027
Moncton
3 ,153,648
Kingston
2 ,547,685
■Chatham
1
1935
+7.5
127,554,349
105,790,697
Dec.
%
107,012,353
100,665,377
78,851,186
+23.4
+6.1
+5.3
19,848,491
15,799,908
,723,672
,171,202
4,826,129
994,161
129,630.422
121,250,531
86,662,353
17,875,239
4,864,752
4,663,468
2,570,404
4,726,681
6,917,995
1,806,858
1,815,705
3,200,366
4,130,070
5,413,138
458,281
+5.7
+20.9
18,376,186
+4.3
+8.0
20,044,114
—21.2
75,617,415
4,914,591
—24.2
2,386,770
—9.0
—0.8
—3.5
950,870
+22.8
+8.3
+3.4
+6.9
8,168,409
399,608
4,867,269
7,757,932
1,899,527
1,892,026
3,322,684
4,198,338
7,059,439
354,860
+ 15.7
+8.4
+ 11.1
+ 10.8
755,017
739,092
562.118
$
+ 19.2
+5.1
*
+22.2
1934
+3.0
—7.6
—8.1
—22.9
—5.9
+ 15.7
+ 12.6
592,372
2,210,382
—8.3
487,917
2,264,343
—2.4
1,858,655
+18.9
+ 10.2
"845,305
724,431
+ 16.7
836,014
+25.8
739,938
658,745
806,742
748,978
646,038
—3.1
19,701,390
+ 17.1
8,849,304
22,658,727
20,672,583
36,475,128
+2.5
621.119
290,430
862,756
646,136
827,036
458,453
+6.1
606,909
676,967
—10.3
+6.3
+ 10.3
85,018,548
+21.3
+ 14.5
—24.9
521,919
—36.6
294,293
530,521
618,566
—14.2
1,166,259
+ 1.1
2,126,380
434,063
+ 18.3
671,231
729,674
1,184,635
2,391,201
—7.2
+3.9
756,767
690,233
+9.6
381,259
675,018
+0.2
+ 13.6
576,667
471,222
668,265
—13.7
471,024
17,872,355
19,450,690
15,735,158
462,975
+4.7
380,551
424,130
455,997
+ 11.1
16,789,662
27,792,249
—16.5
470,350
+20.5
988,690
829,895
+19.1
754,544
12,134,023,577
+ 14.3
399,673,811
374,888,829
+6.6
409,555,423
+24.1
1,710,895,153
1,333,825,079
+28.3
13,868,368,329
146,842,664
82,854,172
141,488,598
192,967,563
61,409,925
57,625,288
97,562,822
147,356,666
124,245,243
10,776,207
16,617,045
51,093,814
18,103,693
29,769,714
22,267,928
$
%
+ 12.4
+ 14.0
13,610,123
17.574.540
33,479,666
b No clearings available.
765,856,507
1935
25,735,937
,904,555
J ,777,059
3 ,985,465
Not included in totals,
4,183,789,198
3,311,066,242
1,795,809,983
564,030,806
1936
Dec.
1,178,649
2,515,044
398,322
+7.6
+ 17.8
Sudbury
a
+25.4
4,703,331,008
3,775,832,637
2,194,891,554
695,893,655
812,299,262
154,688,849
87,578,950
171,102,946
223,346,027
66,591,746
64,026,622
108,058,657
142,131,367
152,511,411
11,668,479
17,181,482
54,604,826
21,530,320
32,796,332
28,013,731
23,071,988
9,068,192
24,032,829
21,980,610
40,219,016
103,132,538
12.629.539
26,739,114
20,488,081
2,367,737
1,617,013
1,815,831
3,211,000
Sarnia
Total (32 cities)
1936
%
Canada—
Inc. or
Inc. or
Inc. or
1936
b
*8*9*34*548
2,852,915
*
Total (10
"b
a636,106
3,620,736
—2.1
* Estimated.
—8.2
1
Financial
2312
GOVERNMENT RECEIPTS AND EXPENDITURES
Chronicle
Trust Accounts, Increment
on
Through the courtesy of the Secretary of the Treasury
we are enabled to place before our readers today the details
of Government receipts and disbursements for September,
1936 and 1935, and the three months of the fiscal years
1936-37 and 1935-36:
Oct.
-
-Month of September-
Gold, &c.
1936
Expenditures—
Chargeable agst. increm.on gold:
Melting losses, <fec
General & Special Funds—
Income
Sept.
30—
1936-37
1935-36
$
$
$
230,610,620
359,641,732
142,976,272
625,333,271
526,377,891
5,734
Unjust enrichment tax
5,734
57
10,398,631
2,495
39",015,514
35,554,232
prod'ta
Processing tax on farm
Customs
29,703,585
101,898,006
96,542,469
amended)
633,229
vestments....
-
Panama Canal
tolls, &c
50,000
Excess of receipts or credits.
Excess of expenditures
a
1,681,384
14,934,428
23,744,185
6,372,969
5,642,927
5,335,064
1,840,589
14,408,310
4,190,148
3,311,225
13,318,733
9,292,119
420,810,825
1,135,915,678
42,755,276
32,332,433
1,699,833
a
780,809
136,987,650
111,496,548
4,751,843
2,748,051
-
7,887,254
6,662,066
26,607,524
daily Treasury statement for the 15th of each month,
(deduct).
Payable from processing taxes on farm products or advances from the Treasury
to be deducted from processing taxes.
PRELIMINARY
377,451
2,752,537
2,858,177
-
10,000,000
15,000,000
12,527,758
324,642
32,062,484
15,014,655
46,735,300
40,662,400
5,000,000
5,707,500
96,103,828
67,408,624
22,539,863
8,869,152
work a
a......
Postal deficiency.
137,896
Act
Act
Retirement funds (U.S. share)
Dist. of Col. (U. S. share)
Social Security
6,539,002
STATEMENT
OF
Veterans' pensions & benefits:
Veterans' Administration a
Adjusted service ctt. fund..
Agrlcul. Adjust. Admin.a c—
Agrtcul. Adjust. Admin. (Act
Aug 24,1935)
------Agricultural Contract Adjusts.
Soil Conservation & Domestic
22,029,644
31,298,438
117,986,548
91,964,702
47,866,082
45,562,089
144,265,404
139,069,242
48,304,496
100,000,000
83,540
115,046,224
8,551,164
56,550,625
14,472
4.554.153
26,250,505
7.216.154
50,932,972
1,937,526
Allotment Act
Emergency Conserv. Work.a—
Farm Credit Administration a
Tennessee
Valley Authority a
charges—Retirements..
4,339,066
Debt
3,807,387
25,425,241
49,231,770
1,943,063
1,992,338
bl.072,517
6,623,700
17,673,750
29,752,050
86,122,350
144,424,137
101,233,390
135,760,112
1,205,569
8,128,680
1,140,291
Refunds—Customs
Internal revenue
-----
Processing tax on
farm prod.
Total, general
relief:
Agricultural aid.
Agricul. Adjust. Admin
Commodity Credit Corp...
Farm Credit Admin
Federal Land banks
Relief:
Fed.
Emer.
Relief
Admin
(incl. Fed.
Sur-
1,047,758
1,449,391
1,887,426
180,211,494
3,967,371
8,222,049
2,174,333
1,950,766
2,591,635
5,798,788
406,356,941
Interest
336,378,983
1,059,056,813
949,803,786
1,640,209
2,657,615
b2,165,285
3,173,950
50,221,711
145,751,214
b3,873,161
b8,354,488
b63,748,485
b7,875,716
3,624,716
4,902,915
15,468,979
11,891,645
3,595,856
7,161,103
30, 1936,
made
as
Treasury statement, is
as
the basis of the daily
upon
follows:
Bonds—
3% Panama Canal loan of 1961
3% Conversion bonds of 1946-47
2^
549,800,000.00
28,894,500.00
119,974,320.00
% Postal Savings bonds (12th to 49th ser.)
I
84,130,250
bl,371,170
1,021,447
Administration
Conserva'n work..
Dept. of Agricul.. relief
Public Work (incl. work rel'f);
30,567
83,973
103,191
229,288
6,539,690
93,444
57,082,175
49,351,727
160,784,559
278,155
215,776
1,393,336
Boulder Canyon project...
898,912
2,133,739
4,423,278
5,378,154
Emerg.
Loans and grants to
7,216,645
250,814,598
States,
13,148,285
4,128,090
330,263
157,951
b41,048,495
b22,028,9l8
28,461,603
&c
municipalities,
23,642,917
90,175,366
82,617,000
42,083,903
34,135,754
Loans to railroads
Public highways
work
58,563,584
Rural Electrifica'n Admin.
Admin
All Other
13,694,202
422,601
13,107,104
36,732
1,072,901
104,149
164,487,920
14,731,493
479,168,389
17,124,955
30,677,218
River and harbor
29,027,322
98,351,949
89,862,187
2,702,932
6,608,330
5,198,683
2,416,244
bi,348,847
2,778,958
7,373,936
7,004,161
Federal Housing Admin...
966,389
997,172
2,928,225
Resettlement Adminlstra'n.
10,057,456
3,473,524
33,487,213
6,916,848
Home-loan system
Subsistence homesteads
1,127
410,548
Miscellaneous:
Export-Import Bks. of Wash.
Admin, for Indus. Recovery..
expend's..
Authority..
Total recovery and relief
..
Total expenditures....
3*4% bonds of 1946-56—
3% % bonds of 1943-47—
3 % % bonds of 1940-43—
3 H% bonds of 1941-43—
3H % bonds of 1946-49—
3% bonds of 1951-55
34 % bonds of 1941
34 % bonds of 1943-45—
34 % bonds of 1944-46—
3% bonds of 1946-48
34% bonds of 1949-52...
2%% bonds of 1955-60...
2% % bonds of 1945-47—
2%% bonds of 1948-51—.
454,
352,
544,
818,
135,200.00
993,950.00
870,050.00
627,500.00
755, 476,000.00
834, 463,200.00
1,400, 534,750.00
1,518 737,650.00
1,035, 874,900.00
491, 375,100.00
2,611, 112,650.00
1,214, 428,950.00
1,223, 496,850.00
1,626, 688,150.00
981, 843,050.00
2*4% bonds of 1951-1954.
2%% bonds of 1956-59...
18,149,396,750.00
United States Savings bonds:
Series A
$193,161,447.00
206,321,025.00
Adjusted Service Bonds.
Total bonds
511,238,500.00
.519,258,786,542.00
.
Treasury Notes—
2?^ % series B-1936, maturing Dec. 15.1936.
34 % series A-1937, maturing Sept. 15.1937.
$357,921, 200.00
817,483, 500.00
15,1937.
15.1937.
Feb.
1, 1938.
June 15.1938.
Mar. 15,1938.
Sept. 15.1938.
502,361, 900.00
428,730, 700.00
276,679, 600.00
618,056 800.00
series B-1937, maturing Apr.
series C-1937, maturing Feb.
3%
3%
2% % series A-1938, maturing
2V% % series B-1938, maturing
3%
series C-1938,
24 % series D-1938,
\% series A-1939,
\% series B-1939,
| %
j%
14 %
14 %
14%
maturing
maturing
maturing June
455,175, 500.00
596,416, 100.00
1,293,714, 200.00
526,233, 000.00
941,613, 750.00
1,378,364, 200.00
738,428, 400.00
737,161, 600.00
15.1939.
maturing Dec. 15,1939.
series C-1939, maturing Mar. 15.1939.
series A-1940, maturing Mar. 15.1940.
series B-1940,
series C-1940,
series A-1941,
1*4% seriesB-1941,
maturing June 15.1940.
maturing Dec.
15.1940.
maturing Mar. 15.1941.
676,707, 600.00
503,877, 500.00
maturing June 15.1941.
$10,848,925,550.00
4% Civil Service retirement fund, series 1937
to 1941
4%
314,400,000.00
Foreign
Service retirement fund, series
1937 to 1941
3,168,000.00
4% Canal Zone retirement fund, series 1937
b387,657
712,215
2,218,474
819,639
1,178,662
bi,4i5
3,592
2,765,611
Reconstruction Finance Corp.
—direct loans &
955,800.00
1,036, 702,900.00
489, 080,100.00
4% bonds of 1944-54
18,505,6§0
Aid to home-owners:
Emergency housing
S758
4)4. % bonds of 1947-52—
399,482,472.00
9,849,318
Com. Corporation).
Civil Works
Treasury bonds:
Series B
Recovery and
to 1941
2%
3,292,000.00
Postal Savings System series,
30, 1939 and 1940
maturing
June
bi2,442,8i4
bl6,983,2S0
.
267,795,363
b212,404,809
4,598,550
244,640,835
40,978,097
—13,094,826
2%
Federal
Deposit
100,000,000.0
Insurance Corporation
series, maturing Dec. I, 1939
...
100,000,000.00
11,339,785.550.00
601,742,952
880,682,446
674,152,304
581,019,818
1,660,799,765
1,830,486,232
175,138,753
160,208,993
524,884,087
832,021,767
Certificates of Indebtedness==•
4% Adjusted Service Certificate Fund series,
maturing Jan. 1, 1937
$71,800,000.00
24 % Unemployment Trust Fund series, ma¬
Excess of receipts..
Excess of expenditures
........
turing June 30, 1937
34,018,000.00
Treasury bills (maturity value)
105,818,000.00
2,353,446,000.00
.
Summary
Exce88 Of
Lees
Excess
expenditures
public-debt retirements.
(exclud¬
retirements)..
175,138,753
160,208,993
524,884,087
832,021,767
6,623,700
17,673,750
29,752,050
86,122,350
168,515,053
142,535,243
495,132,037
745,899,417
increment on gold,
&C., exce8S Of expenditures...
Total interest-bearing debt outstanding
.$33,087,836,092.00
Matured Debt on Which Interest Has Ceased—
Old debt matured—issued prior to Apr. 1,1917
of expenditures
ing public debt
4-9,292,119
—31,645,727
4-85,753,243
4-213,448,352
40,209,950.00
4% and 44 % Second Liberty Loan bonds of
1927-42
177,807,172
Le88 nat. bank note retire't
excess
Of expenditures..
0,11889,516
580,885,280
959,347,769
—9,271,460
—45,883,840
—32,606,420
—196,116,274
168,535,712
65,005,676
548,278,860
763,231,495
1,534,850.00
44% Third Liberty Loan bonds of 1928
44 % Fourth Liberty Loan bonds of 1933-38_
3*4 % and 4*4 % Victory notes of 1922-23
Treasury notes, at various interest rates
Ctfs. of indebtedness, at various interest rates
(4-) or decrease (—) in
general fund balance
4-283,889,875
Treasury bills..
Increase
4-323,670,846
—493,928,126
—42,792,450
388,676,522
54,350,734
720,439,045
$4,747,270.26
34 %. 4% and 44 % First Liberty Loan bonds
of 1932-47
Trust accts.,
Total
THE
$198,668,820.00
-
29,555,151
40,539,115
Army
Tennessee Valley
Sipt.
States
National defense:a
Works Progress
DEBT
STATES, SEPT. 30, 1936
"The preliminary statement of the public debt ofjtheyiJnited
18,183,885
715,488
Public highways.a
plus
213,448,352
c
998,464,465
General—Departmental h——
Railroad Retirement
85,753,243
..........
Additions. expenditures on these accounts for the months and the fiscal years
included under Recovery and Relief Expenditures, the classification of which
UNITED
Canal
304,944,127
14,487,660
499,013,511
River and harbor
167,118,875
14,803,993
—
Total receipts
Panama
5,319,444
31,645,727
Expenditures—
Public buildings
15,109,000
38,407,611
b Excess of credits
288,520
—--
Seigniorage
Other miscellaneous
196,116,273
4,111,000
...
Total.
page 5 of the
2,686,208
2,136,864
other
2,585,545
32,606,420
will be shown in the statement of classified receipts and expenditures appearing on
Govt.-owned sees.
Principal—for'n obligations
Interest—for'n obligations.
Proceeds of
All
575,000
45,883,840
9,271*,460
Other
are
Miscellaneous receipts:
156,002
(Sec. 13b, Fed. Res. Act as
277,849,826
160,653,747
internal revenue
5
290,762
$
288,451,497
tax
Mlscell.
—July 1 to
1935
1935
Receipts—
1935-36
5
Payment to Fed. Res. banks
For retirem't of Nat. bk. notes
Biternal Revenue:
Sept. 30—
1936-37
$
13,351
Unemployment trust fund—In¬
-Month of Scptember-
—July 1 to
1935
$
1936
10,
Treasury savings certificates
2,507,300.00
51,761,850.00
722,000.00
20,121,850.00
7,937,000.00
32,922,000.00
285,425.00
162.749.495.26
Increase in the
public debt
Public debt at
or
452,425,587
begin, of month
33,380,468,641
year
Public debt this date
Trust
Accounts,
on
.....
29,032,655,148
33,778,543,494
28,700,892,625
33,832,894,228
29,421,331,670
33,832,894,228
29,421,331,670
Debt Bearing No Interest—
United States notes
$346,681,016.00
156,039,430.93
Less gold reserve
$190,641,585.07
Deposits for retirement of National bank and
Federal Reserve bank notes
Increment
Thrift and Treasury savings stamps,
Receipts—
unclassi¬
fied sales, &c
Trust accounts
386,362,173.50
2,033,881.98
Old demand notes and fractional currency
Gold, &c
19,492,621
19,189,646
52,727,086
--
3,271,000.04
60,677,650
582,308,640.59
Increment resulting from reduc¬
1
tion in the weight of the gold
dollar......
Total gross debt.
34,434
Seigniorage
5,803,835
Unemployment trust fund
62,946
17,712,579
273,498
13,177,412
15,187,636
29,115,492
36,965,171
81,365,732
91,495,775
CHANGES
IN
NATIONAL BANK
16,656,452
15,142,792
65,764,505
49,861,085
in National bank notes and in bonds and
8,355,348
b56,340,417
52,723,188
53,225,221
deposit therefor:
checking acc'ts
of governmental agencies
(net)
$33,832,894,227.85
—
We give below tables which show all the
Trust accounts....
In
...
190,221
Expenditures—
Transactions
—
30,627,904
3,784,702
Total.
.
NOTES
monthly changes
legal tenders
on
Volume
Financial
143
2313
Holdings in U. S. Treasury
July 1, 1936
Aug. 1, 1936
$
$
Deposit to
Secure Circula¬
tion
Net gold coin and bullion.
587,990,908
Total
Net silver coin and bullion
406,378,622
$
Net United States notes.
Net National bank notes.
2,631,359
2,485,912
Net Federal Reserve notes
Net Fed Res bank notes.
13,857,610
820,704
Legal
for National
Bank Notes
Tenders
Bonds
S
$
_
&
Aug. 31 1936
beoo.ooo
July
b600,000
348,386.855
358,125,840
371,721,815
384,015,980
398,148,410
a347.786.855
600,000
a357,525,840
371,121.815
May 31 1936
beoo.ooo
a.383.415.980
Apr. 30 1936
b600,000
bOOO.OOO
a397.548.410
a412.859.760
b600,000
a428,125.995
b600,000
a445.407,210
31 1936
June 30 1936
Mar. 31
1936
Feb. 29 1936
Jan.
428,725,995
446,007,210
473,146.661
498.690,117
beoo.ooo
a472.546.661
a498.090.117
a529.121.057
a572.428.022
600.000
618,311.862
b600,000
beoo.ooo
b600,000
Dec. 31 1935
Nov. 30 1935
31 1935
Sept. 30 1935
Aug. 31 1935
*900" 000
Net subsidiary silver
Minor
413.459,760
"
31 1936
Oct.
529,721,057
573.028,022
$2,307,460
a
Includes
Total cash in Treasury.
Less gold reserve fund.
Cash balance in Treas..
b Secured by
*
1930 deposited by U. S. Treasurer.
$600,000 U. S. 2% Consols
which were on deposit although circulating notes
of that amount of lawful money.^feii..^
and
National Bank Notes—Total
961,977,267
941,242,940
156,039,431
156,039,431
*999,799,478
156,039,431
867,648,409
805,937,836
785,203,509
843,760,047
861,913,109
497,058,166
167,246,232
350,127,447
9,590,376
41,583,525
10,180,496
39,929,315
2,136,600
2,229,656
10,961,835
39,067,788
2,089,336
2,437,695
11,692,537
38,353,041
1,717,681
1,824,381
Cash in
Philippine Islands
Deposits in foreign depts.
Net
cash
In
2,081,220
2,580,805
Treasury
Deduct current liabilities.
2,935,735,444 2,491,888,069 2,138,532,395 2,416,468,134
254,225,240
261,420.362
234,840,192
228,886,056
2,681,510,204 2,230,467,707 1,903.692,203 2,187,582.078
*
Includes
on
Oct. 1 $338,729,832
silver bullion and $2,104,585 minor, &c., coins
ot included in statement "Stock of Money."
Afloat—
ENGLISH
S358.125.840
9,738,985
— —
Amount of bank notes afloat Sept. 1,
$348,386,855
1936—
deposited to redeem National bank notes Aug. 1, 1936
Net amount of bank notes redeemed in August
.■
Sat.,
$357,525,840
a$347,786,855
redeem National bank notes Sept. 1, 1936
Gold,
p.
fineoz.
2% %
British
141s.
CURRENT LIABILITIES
British
The cash holdings
1936,
taken
are
of the Government
The figures
entirely from the daily statement of the United
142s.3d.
141s.lOd.
85 7-16
85%
85 7-16'
Holiday
107%
107%
107%
107%
107%
117%
117%
117%
117%
117%
The
States
in
United
price of silver
on
the
same
per
ounce
(in cents)
the
days has been:
44 %
U. S.
44%
44%
44%
50.01
50.01
50.01
50.01
77.57
77.57
77.57
77.57
77.57
44%
.
50.01
Treasury
(newly mined)
S
44%
50.01
U. S. Treasury
LIABILITIES
Liabilltiet—
$
142s.
85%
Oct. 9
20d.
Holiday
eign).
AND
GOLD
Awrts—
Oct. 8
20% d.
Bar N. Y. (for¬
Treasury of Sept. 30, 1936:
CURRENT ASSETS
85%
Fri..
Thurs.,
Oct. 7
20% d.
141s.7d.
141s.%d.
the items stood
as
set out in the following.
Wed.,
Oct. 6
4%—
1960-90
Sept. 30,
follows the past week:
3% %—
W. L—
TREASURY CASH AND
CABLE
20% d.
20 l-16d.
Holiday
as
Tries.,
Oct. 5
20 l-16d.
per oz__
Consols
Includes proceeds for called bonds redeemed by Secretary of the Treasury.
Mon.,
Oct. 3
9,738,985
Silver,
Amount on deposit to
MARKET—PER
reported by cable, have been
as
Legal Tender Notes—
Amount
FINANCIAL
The daily closing quotations for securities, &c., at London,
,
States
1,023,687,840
156,039,431
To credit Treas. U. S__
legal tender deposits Aug. 1, 1936
1, 1936
Net decrease during August
are
5,493,345
4,328,229
August:
Amount afloat Aug.
a
5,382,879
Dep. in National banks—
and in banks
Sept. 1, 1936, and their increase or decrease during the
month of
3,295,530
15,137,620
393,394
3,928,737
5,019,334
432,245
Treasury notes and cer¬
tificates of indebtedness 1,150,338,000 1,134,416,000 1,131,526,000 1,168,993,000
had
""The following shows the amount of National bank notes
afloat and the amount of
549,968,636
418,856,972
3,199,255
To credit disb. officers.
by Secretary of the Treasury.
Includes $300,000 bonds
been retired by deposit
$
505,342,875
403,778,832
3,152,244
3,002,450
15.712,720
Dep. in spec'l depositories
account Treas'y bonds,
618,911,862
1, 1936, secured by
bank notes outstanding Sept.
$2,353,595 on Sept. 1, 1935.
Federal Reserve
proceeds for called bonds redeemed
537,252,243
393,057,335
2,813,642
2,171,038
15,784,820
1,043,759
4,471,551
4,819,665
4.703,060
coin, &c
Dep. in Fed. Res. bank..
lawful money, against
Oct. 1, 1936
Sept. 1, 1936
$
Afloat on—
National Bank Circulation
Amount Bonds
on
Chronicle
77.57
.10,845,017,638.14 Gold certificates:
Gold
Outstanding (outside
of Treasury)
ctf. fund—Bd.
2,913,483,109.00
DIVIDENDS
Gold
ofGovs.,F.R.Sys_ 5,569,178,912.60
Redemption
fund—
Fed. Res. notes
12,386,980.93
Gold reserve
156,039,430.93
Exch. stabiliza'n fund. 1,800,000,000.00
Gold in general fund..
393,929,204.68
Total
Total
10,845,017,638.14
Note—Reserve against
10,845,017,638.14
$346,681,016 of United States notes and
Treasury notes of 1890 outstanding.
$1,175,422 of
Treasury notes of 1890 are also secured by
Dividends
first
we
are
bring together
current week.
we
show
grouped in two separate
Then
the
have not yet
we
dividends
all
tables.
the dividends
follow with
a
In the
announced
the
second table in which
previously announced, but which
been paid.
The dividends announced this week
are:
silver dollars In the Treasury.
Par
SILVER
Liabilities—
$
Asstls—
Silver
Silver ctfs. outstanding. 1,172,559,602.00
Treasury notes of 1890
746,610,842.13
i
Silver dollars
507,251,322.00
outstanding
1,175,422.00
80,127,140.13
Silver In general fund...
Total
Name of
$
Aloe (A. S.) Co. (quarterly)
American Alliance Insurance (N.
1,253,862,164.13
GENERAL FUND
Treasurer's
393,929,204.68
80,127,140.13
3,199,255.00
15,137,620.00
393,394.50
3,295,530.00
3,928,736.75
2,104,584.90
338,302,941.18
--....
United States notes
Federal Reserve notes..
Fed. Reserve bank notes
National bank notes
Subsidiary silver coin...
Minor coin
Silver bullion (cost value)
811ver bullion (recolnage
Postal
2,914,749.62
Reserve banks..
sales of Govt,
courts,
350,127,446.61
secur.
other
1
,168,993,000.00
of U. S
credit
Govt,
of
items,
changes, &c
credit
Govt,
of
38,353,040.71
In
urer
weight of the gold
139,904,732.41
Seigniorage (see note 1).
329,078,269.09
Working balance
1,718,599,076.36
1,322,154.42
of Treas¬
of U. S
Total
Balance
1,717,681.08
2,416,468,134.33
I
today
Total
2,187,582,077.86
2,416,468.134.33
Note 1—This item represents seigniorage resulting from the Issuance of silver
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 proclamaion dated Aug. 9, 1934.
Note 2—The amount to the credit of disbursing officers and certain agencies today
was
$2,423,178,056.68.
___
TREASURY
ernment
statements,
shows
the
up
August, September and October, 1936:
from the daily Gov¬
money
Treasury at the beginning of business
2b Oct.
oct.
2b Oct.
15
Nov. lu Oct.
30
l%c
MX
11%
Oct.
Oct.
Oct.
15 Oct.
15
6
i oept. 24
1 aept.24
2 Oct. 17
2 Oct.
17
Nov.
Oct.
25c
Nov.
2 Oct.
87 %c
xnov.
2 Oct.
15
Nov.
2 Oct.
21
Nov.
2 Oct.
26
7
22
Anglo-Canadian Telepnone, 7% pref. (quar.)
Archer-Daniels-Midland Co., pref. (quar.)
Atlantic Macaroni Co., Inc. (quar.)
Atlantic Safe Deposit (N. Y.) (quar.)
Atlantic Steel Co., preferred (semi-ann.)
Atlas Powder Co., preferred (quar.)
Baker (J. T.) Chemical (resumed)
Beneficial Industrial Loan Corp., com. (quar.).
Common (extra)
:
Preferred series A (quarterly)
Berghoff Brewing Corp. (quarterly)
on
holdings
of
the
the first of July,
50c
Dec.
37%c
Oct.
25c
Oct.
15 Oct.
2 Oct.
2 Oct. 20
15 Dec.
1
3b Oct. 15
30 Oct. 15
Oct. 30 Oct. 15
Nov. lb Nov.
5
Nov. lb Nov.
5
Nov.
2 Oct.
2 Oct.
15
Nov.
Nov.
2 Oct.
15
Dec.
1
87%c
25c
hMX
Oct.
50c
Oct.
Nov.
Oct.
10c
Oct.
15 Oct.
$1
Oct.
15 Oct.
r 5c
Carpel Corp. (quarterly)
Century Ribbon Mills, pref. (quar.)
Central Kansas Power, 7% pref. (quar.)
6% preferred (quarterly)
Cerro de Pasco Copper Corp
Chesapeake & Ohio Ry., 6%% pref. (semi-ann.)
City Water of Chattanooga 6% pref. (quar.)
Coan Cos., Inc., A
Coast Breweries, Ltd. (quar.)
Collective Trust, Inc., A
Collins Co. (quar.)
5% cum. pref. (quar.)
5% conv. cum. pref. (quar.)
2 Oct.
$5
Oct.
1
50c
Dec.
50c
Oct.
$1%
Dec.
$1%
Oct.
MX
$1
$3%
$1%
Oct.
Nov.
5
6
1
1
15
Sept. 30
15 Nov. 14
1
Oct.
6
1 Nov. 20
15 Sept. 30
15 Sept. 30
2 Oct.
19
Jan.
1
Dec.
31
Nov.
2 Oct.
20
Oct.
27c
Nov.
30c
Nov.
15 Sept. 30>
2 Oct. 15
2 Oct. 15
Oct.
/i20c
$1%
$3
20c
$1%
$1%
$1%
...
Nov. 15 Nov.
Nov.
50c
15
1 Sept. 25
31 Oct. 17
31 Oct. 17
50c
Canadian Life Assurance Co., Toronto (quar.)..
Carman & Co., Inc., A
Congress Cigar Co
Nov.
75c
Buffalo Ankerite Gold Mines, Ltd
Camden Fire Insurance Co. (semi-ann.)
(quar.)
6% pre!erreJ (quar.)
NOV.
25c
Briggs Manufacturing Co. (quarterly)
Concord Electric Co.
Oct.
15
25c
Preferred (quarterly)
Blue Ridge Corp., preferred (quar.)
Brandon Corp. 7% preferred
Commonwealth Edison Co
MX
#3%
$1%
Sept. 30
$1%
Birtman Electric Co. (quarterly)
Extra
Commodity Corp. (initial)
x%i
1
25c
Columbia Gas & Electric Corp. com. (quar.)
6% cum. pref. series A (quar.)
HOLDINGS
MONEY
following compilation, made
8
Oct.
Nov.
Colonial Life Insurance Co. of America
The
21
25c
Brockton Gas Light Co. (quar.)
Brooklyn-Manhattan Transit Corp., common..
dollar
other
officers
re¬
sulting from reduction
502,226.77
oct.
oept. 15
25c
Extra
Balance of Increment
Philippine Treasury:
To credit
11,793,422.62
228,886,056.47
U. S
urer of
408,460.09
ex¬
11,692,537.32
officers...
1
60c
.
Extra.,...
Extra
other
credit of Treas¬
To
Nat.
lawful money)
Foreign depositaries:
To
66,985,334.33
Uncollected
credit of Treas-
urer
disbursing
banknotes(5% fund,
bank
depositaries:
,
60,800,000.00
71,390,030.17
officers, Ac
Deposits for:
Redemption of
Special depos. acct. of
I To
lawful
reserve,
Postmasters, clerks of
Collections, &c
To
Savings
Other deposits
Deposits In:
and
1,690,919.39
System:
426,890.66
1
15 Oct.
American Reserve Insurance Co. (extra)
Post Office Dept
Board
of
Trustees,
5%
oct.
American Motorists' Insurance Co., Chicago
15,817,889.87
officers:
Unclassified—
Nat.
out¬
standing
Deposits of Government
money
value)
Fed.
American Machine A Foundry Co. .
Oct.
15c
Feit, 6% 1st pref. (quar.)
$5 preferred (quarterly)
checks
1NOV.
25c
$1%
25c
Holders
10c
American Factors Ltd. (monthly)
American General Equities, Inc. (quar.)
American Hair <x
Liabilities—
Assets—
Gold (see above)
Silver (see above)
When
Payable of Recor
25c
Y.) (quar.)—
pref. (quar.)..
American Equitable Assurance (quar.)
American Dairies, inc., 7%
Extra
Total...
1,253,862,164.13
Snare
Company
50c
$1
15 Oct.
6
Oct.
6 Oct.
Nov. 15 Oct.
Nov. 15 Oct.
20
20
Nov. 15 Oct.
Nov. 15 Oct.
20
Nov.
Nov.
70c
Oct.
$1%
$2
2
20
1 Oct.
9
2 Oct.
15
6
Oct.
15 Oct.
15 Oct.
Oct.
31 Oct.
14
O
Financial
2314
Per
Name of
Share
Company
Consolidated Rendering Co
Consolidated Royalty, Inc., 6% pref. (quar.)—
$1
15c
Coon (W. 14.) Co
15c
7% preferred (quarterly)
Crandall, McKenzie & Henderson, Inc
Crown UorK inoerndtionai Corp., cl. A
38
—
26c
(quar.)_
20c
20c
Crown Cork & Seal Co. (quar.)
Extra.
Davenport Water Co. 6% pref
$1H
Delaware Rayon 7% pref.
$1%
(quar.)
Deposited Bank Shares of N. Y. (semi-ann.)
e2 H%
12.9c
Diversified Trust Shares D
$1H
Electric Bond <fc Snare Co.. $6 pref. (quar.)
$5 preferred (quarterly).
Dec.
Oct.
Nov.
Nov.
Nov.
Oct.
Pacific Public Service Uo. (Calif.), 1st pref
Pacific Truck Service, Inc
10
15
lOo
31
31
20
30
2 Nov. 15
2
dctTTo
2 Oct. 10
1 Nov. 20
15 Oct.
6
2
>ct.
15a
29 Oct.
15
15 Oct.
1 Oct.
69c
Oct.
15 Oct.
10
15
6
16
31
$1
37Hc
$1H
25c
2 Oct.
Nov.
Nov. 15 Oct.
Oct.
1 Sept. 24
Oct.
1 Sept. 24
Oct.
20 Oct.
25c
Oct.
16
>ct.
5
8
xw5%
Oct.
23 Oct.
14
Preferred (quarterly)
Haverhill Electric (quar.)
50c
50c
sept. 30 Sept. 23
Sept. 30 Sept. 23
Oct. 14 Oct.
8
.-.
26c
Oct.
25c
(quarterly)
.
Oct. 31 Oct.
Nov. 14 Oct.
Nov. 14 Oct.
Dec.
1 Nov.
Oct.
16 Oct.
25c
(G.) Brewing (quarterly)
25c
;
50c
Hires (Ohas. E.) Co., com. class A (quar.)
Common class B and management stock
Holeproof Hosiery Co. 6 2-3% pref
$1
7i50c
Home Dairy Co., Inc., A
h5 0c
31 Oct.
21
21
31
31
14
13
50c
hU
UH
Utilities, 6% pref. (quar.)
$7 junior preferred (quarterly)—
Illinois Northern
50c
International Cigar Machinery Co-
50c
iilxtrci
Utilities Corp.. $7 prior pref. (qu.j
$3H prior preferred (quarterly)
— —
Interstate Public Service Co. (Madison, Wis.)—
Preferred (semi-annual)
Ironrite Ironer Co., 8% preferred
Ivanhoe Foods, Inc., $3H preferred
Jones (J. Edw.) Royalty Trust—
Series E participating certificates ($100)
Series F participating certificates ($100)
Series G participating certificates ($100)
Series H participating certificates ($100)
Series I participating certificates ($100)
Series J participating certificates ($500)-Series K participating certificates ($100)-- —
Series L participating certificates ($100)
Kalamazoo Allegan & Grand Rapids RE
Kansas City St. Louis & Chicago RR., 6% pref.
guaranteed (quarterly)
Kendall Co., common
Cumul. participating preL (quarterly)
Keystone Custodian Funds, Inc., series SL
Fuj
Kleinert (I B.) Rubber Co__
Knickerbocker Insurance Co. (N. Y.) (quar.)
International
—
—
Extra
Kokomo Water Works Co., 6% pref. (quar.)
Kress (S. H.), new (quarterly)
—
Nov.
20a
$1H
Nov.
2 Oct.
1 Oct.
87 He
Nov.
1
Extra
Oct.
87 He
/i20c
25c
Oct.
17
2
Nov.
1 Sept. 15
2 Oct. 15
Oct.
5
30c
30c
12.8c
$1.80
23c
71c
$2.95
UH
30c
UH
75c
Sept.
Sept.
Sept.
Sept.
30 Aug. 31
30 Aug. 31
30 Aug. 31
30 Aug. 31
Sept. 30 Aug. 31
Sept. 30 Aug. 31
Sept. 30 Aug. 31
Sept. 30 Aug. 31
Oct.
1 Sept. 15
Nov.
Oct.
Dec.
2 Oct.
16 Oct.
20
9a
1 Nov. 10a
20c
Oct.
12Hc
12Hc
$1H
Oct.
15 Sept. 30
31 Oct. 15
26 Oct. 15
Oct.
26 Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
Oct.
Oct.
25c
$3
25c
50c
2 Oct.
2 Oct.
2 Oct.
Royalty Income Shares A
San Carlos Milling Co. (monthly)
Seattle Brewing & Malting (quar.)
Second Twin Bell Syndicate (monthly)
Securities Corp. General 6% pref. (quar.)-7% preferred (quar.)
Six-twenty Jones Corp. (quar.)
Signal Oil Co., class A & B (quar.)
Ex£ra
Sioux City Gas & Electric Co. 7% pref
Spencer Chain Stores, Inc., common
Spiegel May Stern Co. (quarterly)--
Nov.
15 Oct.
2 Oct.
Nov.
2 Oct.
Lexington Utilities, 6H% preferred
6H% preferred (quarterly)
14
14
Nov. 10 Oct.
Oct.
10
10
31
31
10 Sept. 30
Nov. 10 Oct.
Liquid Carbonic Corp
Lock Joint Pipe
Locke Steel Chain Co., common (quar.)
Loew's, Inc., $6H cumul. pref. (quar.)
Lone Star Gas Corp., $6^a pref. (quar.)
-Marquette Cement Manufacturing, pref. (quar.)
Maritime Telephone & Telegraph (quar.)
7% preferred (quarterly)
Massachusetts Power & Light Assoc., pref. (qu.)
Maytag Co., 1st preferred (quar.)
Cumulative preference (quar.)
McGraw Electric Co. (quar.)
$1H
40c
$1
20c
Oct.
Nov.
Oct.
Nov.
10 Sept. 30
2 Oct. 17
31
1
octris
Nov. 14 Oct.
UH
$1.6 2 Oct. 31 Oct.
1 Sept.
Oct.
$1H
15c
1 Sept.
Oct.
1 Sept.
17Hc Oct.
50c
Oct.
Nov.
2 Oct.
JlH
Melville Shoe Corp., common (quar.)
Convertible preferred (quarterly).
50c
25c
Extra
15 Oct.
2 Oct.
Nov.
2 Oct.
Nov.
2 Oct.
Nov.
1 Oct.
1 Oct.
$1^
75c
51.125
2nd preferred (quarterly)
Metal & Thermit (quarterly)
Nov.
Nov.
28
10
30
20
20
8
15
15
16
16
17
17
17
7^c
Nov.
$1
25c
Metropolitan Industrial, certificates (quar.)
Milwaukee Electric Ry. & Light Co.—
6% preferred (quarterly)
Monmouth Consol. Water, $7 pref. (quar.)
Montgomery & Erie Ry. (semi-annual)
Moore (Tom) Distillery Co. (quar.)
Nov.
1 Oct.
2 Oct.
20
Nov.
1 Oct.
21
UH
17^c
12Hc
Extra-
5c
Morris & Essex Extension RR. (semi-ann.)
Morrison Bond Co., 7% preferred (quar.)
$2
43 Mc
Mortgage Corp. of Nova Scotia (quar.)
Nashua Gummed & Coated Paper Co., 7% pre¬
ferred (quarterly)
National Can Co
National Malleable & Steel Casting
31 Oct. 15
Nov. 16 Nov.
2
Nov. 10 Oct. 31
Nov.
2 Oct. 20
Nov.
Nov.
2 Oct.
2 Oct.
20
15
Sept. 30 Sept. 25
Nov.
2 Oct. 24
Oct.
UH.
331-3%
65c
National Tea Co., preferred (quar.)
Neilson (Wm.) Ltd., 7% preferred (quar.)
Oct.
Oct.
1 Sept. 25
Oct.
6
2i
Oct.
10
16
Oct.
Oct.
15 Oct.^«=> 1
Oct. 26 Oct. 17
Nov. 15 Oct. 30
Nov.
2 Oct. 16
—
Yoijk Merchandise (quarterly)
Extra
Oct.
—
Nov.
— -
25c
Feb.
Oct.
75c
25c
(quarterly)
Springfield Gas Light (quar.)—— >
(quar.)
Oct.
12^c
$3
—
Oct.
Oct.
Nov.
Co., $3 preferred (quarterly)
Nicholson File Co. (quarterly)
North Boston Lighting Properties, 6% pf. (qu.).
North Continent Trading Corp., pref. (quar.)
(quarterly).
Oahu Ry. & Land Co. (monthly)
Oahu Sugar
July
20c
$1
preferred (quar.)---
Third Twin Bell Syndicate (monthly)
15c
2c
Tung-Sol Lamp Works, preferred (quar.)
Union Oil Co. of California (quar.)
United New Jersey RR. & Canal Co. (quar.)—
United Pacific Insurance (quar.)
United Telep. Co. (Kansas) (quar.)
7% preferred (quar.)
United States & For. Securities 1st pref. (quar.)_
United States & Internat. Secur. 1st pref
20c
25c
Oct.
Nov.
50c
Class B
(initial)
Utica Chenango & Susq. Valley RR. (s.-a.)
Uoica Gas <fc Electric Co., 7% pref. (quar.)
Wailuku Sugar Co. (monthly)Walgreen Co. (quarterly)
Washington Oil Co.
Western Tablet & Stationery Corp. (quar.)
5% preferred (initial)
Wolverine Tube Co. (initial)
20 Oct.
10
$1
Universal Cooler, class A (resumed)
Oct.
Oct.
20 Oct.
12
10c
United Stove
Oct.
$3
$1 %
12
31
20 Oct.
15
Oct.
15
8
50c
Nov.
2
Oct.
10
Nov. 16
Jan.
2
Oct. 26
$1^
10c
20c
20c
2c
_
-
Oceanic Oil Co
Onomea
Sugar (monthly)
Outlet Co., common (quarterly)
—
Common (extra)
First preferred (quarterly)
Second preferred (quarterly)
Ozark Corp. (quarterly)
Paauhau Sugar Plantation Co.
Oct.
15c
20c
50c
25c
6
6
Oct.
5
Oct.
10
21
21
15 Oct.
20 Oct.
Nov.
2 Oct.
Nov.
2 Oct.
Nov.
25c
(monthly)
10
Nov. 14 Nov.
Nov. 14 Nov.
Nov.
UH
15 Oct.
Dec.
10c
Nov.
2 Oct.
2 Oct.
21
21
15 Nov. 30
5 Oct. 15
Nov.
5
Dec. 21
Oct. 15
give the dividends announced in previous weeks
and not yet paid.
This list does not include dividends an¬
nounced this week, these being given in the preceding table.
Per
Name of Company
Share
Adams (J. D.) Mfg. Co. (quarterly).
15c
Nov.
Addressograph-Multigraph (quar. increased)
Administered Fund Second (quarterly)
25c
Oct.
10c
Oct.
7c
Special
Affiliated Fund, Inc., new
New common (extra)
Air Reduction Co.
Extra
(initial)
Oct.
lc
Oct.
Oct.
25c
$1.00
UH
-
Alabama Power Co., $5 preferred (quar.)_
Alaska Juneau Gold Mining (quar.)
Extra
Oct.
2c
(quar.)
Holders
When
Payable of Record
2 Oct. 15
10 Sept. 23
20 Sept. 30
20 Sept. 30
15 Sept. 30
15 Sept.
15
30
Sept. 30
Oct.
15 Sept. 30
Nov.
2 Oct. 15
15c
-
_
Extra
Nov.
2 Oct.
10
15c
;
Allegheny & Western Ry. gtd. (semi-ann.)——
Allied Chemical & Dye Corp., com. (quar.)-—.
All-Penn Oil & Gas Co. (quarterly)
Alpha Portland Cement (quarterly)--—
Altorfer Bros., preferred
Aluminum Industries Inc. (quar.)
Aluminum Manufacturing. Inc. (quarterly)
7% preferred (quarterly)
Amerada Corp., common (quar.)
American Bakeries Corp., 7% pref. (semi-ann.)
American Box Board (quarterly)
Nov.
2 Oct.
10
$1H
American Can Co., common (quar.)
American Cities Power & Light, opt. cl. A, pref.
$7 Preferred (quar.)
-
>ct.
15 Oct.
25c
Oct.
9
24 Oct.
1
10 Oct.
1
15 Sept. 30
Dec. 31 Dec. 15
Dec. 31 Dec. 15
Oct. 31 Oct. 15
$2
Oct.
10c
Oct.
50c
$1^
50c
$3 H
20c
$1
75c
Jan.
1
Dec.
7 Nov.
7 Nov.
Dec.
Nov. 16 Oct.
Nov.
2 Oct.
Dec.
15
26
26
26a
10
$1.00
Oct.
16 Sept. 15
$1.75
Oct.
91x
-
American Envelope Co., 7% pref. A (quar.)
American Factors, Ltd. (monthly)
Dec.
15 Sept. 15
1 Nov. 25
Oct.
10 Sept. 30
15c
American Fork & Hoe 6% pref. (quar.)
American Gas & Electric Co., pref. (quar.)
American Hardware Corp. (quar.)
10
10
10e
5c
American District Telegraph (N. J.) (quar.)
Tan. -9 Dec.
Nov.
2 Oct.
$1.50
$1 H
25c
-
American Home Products Corp
20c
American Light & Traction (quar.).
30c
Preferred (quar.)---
37 He
Oct. 15 Oct.
5
Nov.
2 Oct.
8
Jan.
1 Dec. 12
Nov.
2 Oct. 14a
Nov.
2 Oct. 15
Nov.
2 Oct. 15
American Mfg. Co. preferred (quar.)
American Meter Co
$i h
Dec.
31 Dec.
75c
Oct.
15 Sept. 30
American Paper Goods,
$13^
30c
Dec.
16 Dec.
Oct.
91H
Oct.
15 Sept. 15
15 Oct.
1
-
7% pref. (quar.)
American Rolling Mill (quar.)
Preferred (quar.)
American Ship Building Co. (quar.).--
Oct.
Oct.
1
Oct.
18
we
Oct.
8
26
26
Oct.
Nov.14
Oct.
75c
—
30
30
20 Oct.
Nov.. 2 Oct.
20c
25c
—
10 Sept.
15 Sept.
Nov.
2 Oct.
Nov.
2 Oct.
$1
12
—
.
Oct.
25c
Oct.
«
Oct.
25c
Oct.
-
Nov.10 Sept. 17
10 Dec. 21
Anaconda Copper Mining Co
Anheuser Busch, extra
15 Oct.
-
1 Oct.
Sept. 20
American Thermos Bottle (quar.)
Extra
£
-
m
•
-
Jan.
31
Oct.
1
»
-
$2 H
$1H
%1U
$1H
$1^
$1
1 Aug.
Oct.
15
20
Oct.
1 Sept. 30
Nov.
2 Oct. 20
Oct. 30 Oct. 19
Nov. 2i Oct. 21
Nov.
1 Oct. 19
Oct.
Oct.
15 Oct.
2 Oct.
1
1
27 He
Telephone Investment Corp. (monthly)
Telluride Power Co. 7% pref. (quar.)
10
10
2
Oct.
25c
6
16
r20c
Quarterly..
Quarterly.
15
23 Oct.
15 Oct.
Apr.
American Telep. & Teleg. (quar.)-
75c
15
15 Oct.
20c
20
UH
—
Northern RR. of N. H.
15
2 Oct.
fan.
1
Jan.
2 Oct.
Sept. 19
31 Oct.
20c
Nov.
New York, Pennsylvania, New Jersey Utilities
16
5 Sept. 30
15 Oct. 10
Oct. 16 Oct. 10
Nov. 10 Oct. 31
Uct.
30c
-
2 Oct.
Nov.
Oct.
75c
— -
2 Oct. 31
10 Sept. 30
Nov.
2 Oct. 15
Nov.
2 Oct. 20
Oct.
15
25 Sept. 30
Oct.
——
Nov.
8
2 Oct.
Nov.
Nov.
Sept. 30 Sept. 29
15
15
1
$1
Bros., preferred (quarterly)
Newark Telephone (Ohio), 6% prer. (quar.)
New River Co., preferred--
2 Oct.
2 Oct.
15 Oct.
1 Nov. 14
13Mc
UH
UH
$1^
h$lH
50c
Oct.
15
15
Dec.
Preferred
Below
24
Dec.
-
2 Oct.
1 dept. 24
1 Sept. 24
Nov. 10 Nov
Oct.
15
20
20
20
20
Nov.
15
1 Oct.
2 Oct.
Nov.
Nov.
15
2 'let.
1 Oct.
Nov.
Nov.
Extra
Stock trust certificates (extra)
Rochester American Insurance Co. of N. Y
Rochester Gas & Elec. Corp. 7% pref. B (qu.) —
Rolland Paper Co. 6% prer.
(quar.)
i—
Roos Bros., Inc., $6H pref. (quar.)
The Fair
15
Nov.
—
$1.14
37c
Lincoln Telephone & Telegraph (quar.)
Lincoln Telephone Securities Co., 6% pref. (qu.)
_
To burn Gold Mines, L.td. (quar.)
UH
7% pref. (quar.)
Lansing Co. (quarterly)
;
Lawyers Title Insur. Co. (Va.), 6% pref. (s.-a.)Lehigh Portland Cement Co
15
15
17
20
2 Oct.
2 Oct.
Nov.
6% preferred (quarterly)
7% preferred (quarterly)
Quarterly Income Shares, Inc. (quar.)
Randall Co. class A (quar.)
Rockland Light & Power Co. (quar.)
Standard Fire Insurance, N. J.
2 Oct.
Nov.
Syracuse Binghamton & N. Y. RR. (quar.)Tamblyn (,G.) Ltd. (initial, quarterly)
Quarterly
2 Oct.
20
Nov.
(quar.)
20
Nov.
20
22
Oct.
2 Oct.
2 Oct.
Nov.
26 Oct.
26 Oct.
9
1 Sept. 21;
6
2
Nov.
6% preferred (quar.)
5
$2
-
Anheuser Bush, Inc. (quarterly)
Arlington Mills
Asbestos Mfg. preferred (quar.)..—.
Preferred (quar.)
Associated Telep. Co., Ltd., $1H pref. (quar.)
Atlantic City Electric Co., pref. (quar.)
Atlantic Coast Line RR., preferred (s.-a.)
50c
Extra.
(quarterly)
Baldwin Co.. 6% preferred A (quar.).
Nov.
Oct.
35c
Nov.
Feb.
Nov.
35c
—
31 He
$1H
*2jg
25c
4 He
5Hc
43 he
$1H
2 Oct.
1 Oct.
10 Oct.
15
20
5
19 Sept. 12
15 Oct.
5
Dec. 30 Dec. 20
50c
...
Automobile Finance Co., Initial (quar.)
Nov.
2 Oct. 15
Nov. 30 Nov.
6
Oct. 31 Oct.
9
Oct. 31 Oct.
9
Oct. 15 Sept. 15
$1^
$1H
$2 H
-
Atlantic Refining Co., 4% pref. (quar.)
Atlas Plywood Corp..
Nov.
$7
50c
2nd preferred (quarterly)
Preferred
15
50c
Preferred (annual)
American Smelting & Refining Co
1st preferred (quarterly)
15 Oct.
2
1 Oct.
1 Jan.
1 Oct.
2 Oct.
20
20
15
Nov. 10 Oct.
23
Nov.
Nov.
2
Oct.
5
Nov.
Nov. 2
Oct. 15 Sept. 20
Oct. 15 Sept. 30
Oct. 15 Sept. 30
Oct.
i
1516
oct.
17 Oct.
.NOV.
Sundstrand Machine Tool Co. (quar.)
Extra
15c
Preferred (quarterly)
Extra.-----.
Oct.
1
15
1
15
1 Sept
1 Sept
Oct.
—
Philli ps-J ones, preferred
Pioneer Mills Co., Ltd. (monthly)--—
Potomac Edison Co., 7% pref. (quar.)
5
20
25c
Lake Erie Power & Light, 6% 2d preferred
New
Peter Paul, Inc. (quar.)
Petroleum Investment, Inc——
15 Oct.
Nov.
1 Oct.
Oct. 15 Oct.
1 Oct.
Nov.
Nov.
1 Oct.
15
2 Oct.
^ov.
7% preferred (quar.)
10 Oct.
25c
New (extra)
Nov.
Oct.
Perfect Circle Co., extra
Oct.
Oct.
Oct.
;
Holders
When
Payable of Record
Oct.
Oct.
(monthly)
Humberstone Shoe Co., Ltd. (quar.)
Hutchins Investing Corp. $7 pref—
Neisner
Guano„& Fertilizer Co. (quar.)
Public Service Corp. of N. 111.
15
10, 1936
Sept. 30 Sept. 23
Pacific
5
Nov.
50c
Homes taKe Mining Uo.
Extra
Jan.
$1.60 Oct.
Hartford Gas Co
Extra
2
Share
Name of Company
6
10
75c
m
7% preferred (quar.)
Gray Telephone ±\*y Station (quarterly)
Great American Insurance Co. (quar.)
Handley Page, Ltd., 10% partic. preferred
Heileman
'an.
Nov. 16 Oct.
Nov. 16 Oct.
Nov.
2 Oct.
Oct.
1 Sept.
Oct.
(quar.).
(quar.)
Hawaiian Pineapple Uo.
Extra
12 Oct.
15 Oct.
3i Oct.
Oct. 31 Oct.
Nov.
2 Oct.
Oct.
Dec.
81
Fiduciary Trust Co. (N. Y.) (initial)
Fitch burg Gas & Electric (quar.)
General Uigar Uo. (quarterly)
General Metals Corp. (quar.)
Gray & Dudley
Oct.
Oct.
$2^
Empire & Bay State Teleg. 4% gtd. (quar.)
Essex & Hampton Electric (quar.)
Eureka Pipe uine Co.
Per
Holders
Payable of Record
$1*1
.
Federal Mogul Corp
Felin (J. J.) & Co., Inc., 7% pref.
When
Oct.
Chronicle
il
15 Sept. 30
Volume
Financial
143
Per
hare
Name of Company
Baldwin Rubber Co
-
When
Holders
Payableo f Record
Oct.
Bloch Bros. Tobacco (quar.)
...
6% preferred (quar.)
...
Bloomingdale Bros., preferred
Bon Ami, class A (quarterly)
Borne-Scrymser Co. (special)
Bower Roller Bearing Co. (increased)
Bralorne Mines Ltd. (quar.)
....—
15
Du Pont de Nemours (E. I.) So Oo.—
Nov.
Oct.
10
10
Oct.
Sept. 30
Debenture stock (quar.)
—
Eastern Steei Products, Ltd. (resumed)
Eastern Township Telephone Co..
Oct.
Oct.
Oct.
15 Sept. 30
Nov.
Oct.
East
Dec.
15 Dec.
Sept. 25
Sept. 23
Sept. 19
15
26c
Oct.
r$l*4
$134
234c
Oct.
Oct.
Oct.
Oct.
1
Oct.
Oct.
9a
Nov.
Nov. 11
Dec. 24
3734c
$134
$1.62
$1
76c
—
Extra...
Brantford Cordage Co., Ltd., $1.30 1st
75c
10c
Dec.
Oct.
Brewing Corp. of Canada, preferred
Bridgeport Hydraulic Co. (quarterly)
British Columbia Power, class A (quar.)
Brooklyn Borough Gas Co. (quarterly)
Brooklyn-Manhattan Transit, preferred (quar.)
Preferred (quar.)
Preferred (quar.)
Brooklyn Teleg. & Messenger Co. (quar.)
Bruck Silk Mills, Ltd. (interim)
Buffalo, Niagara & Eastern Pow., 1st pref. (qu.)
Bulova Watch Co., preferred
Burco, Inc. (initial).
Burdine's Inc., $2.80 preferred (quar.)
Oct.
r40c
Oct.
$134
$134
$134
$134
$134
Jan.
Jan.
1
2
Apr.
Apr.
1
Oct.
Oct.
Oct.
Canadian Fairbanks-Morse, Ltd., pref. (quar.).
Canadian General Investments, Ltd
Canadian Industries, Ltd., com. A & B (qu.)...
Preferred (quarterly)
...
Carnation Co., 7% preferred (quar.)
Clinchfield & Ohio Ry. (quar.)
Stamped certificates (quarterly)
Carolina
Celluloid Corp., 1st pref. partlc stock
Celotex Corp., 5% preferred.. ...
....
Central Illinois Public Service $6 preferred
6% preferred
...
Central Illinois Securities, $1*4 preferred
Central Mississippi Valley Electric Property—
Jan.
2
Jan.
2
Quarterly.
"mIi
Oct.
Nov.
Oct.
Oct.
9
Apr.
Apr.
1
1
Sept. 3Q
h$134
/ill 34
h$ 134
r$i*4
Dec.
15
15
Sept. 30
Sept. 30
Sept. 30
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Nov.
Nov.
Sept. 30
Sept. 30
Oct. 20
Oct. 20
30c
1214c
Oct.
Oct.
Sept.
Sept.
Sept.
Sept.
Oct.
Nov.
$1
$1
15C
10
Oct.
Oct.
Oct.
Nov.
20
10
Oct.
TU Oct.
Jan.
M Oct.
30
30
30
30
Dec.
Oct.
2Uc
20c
31
6
2
Nov.
Nov.
Sept. 30
Sept. 30
Oct.
Oct.
Sept. 19
Sept. 19
Nov.
Oct.
20
1 Nov. 14
Nov.
1 Oct,
15
Nov.
1 Oct.
Oct. 15 Sept.
Oct. 15 Sept.
Nov.
2 Oct.
6% cumulative preferred..
Central Power So Light, 6% preferred
7% preferred
$
Centrifugal Pipe Corp. (quar.)....
.......
Century Electric Co. (quarterly)
Cherry-Burrell Corp. (quar.)
5% preferred, initial (quar.)
7% preferred
Preferred (quar.)
Chesapeake So Ohio Ry., preferred (semi-ann.)..
Cincinnati Advertising Products, extra
Cincinnati, Newport & Covington Lt. & Traction
30
30
15
Nov.
Central Power Co., 7% cum. pref...
15
2 Oct.
15
Nov. 16 Nov.
5
Oct. 15 Sept. 30
Nov.
1 Oct. 15
Oct. 31 Oct. 15
—
Oct. 26
Nov.
1 Oct. 15
1 Dec. 31
.......................
Jan.
Nov.
$134
$1,125
Oct.
Oct.
1 Oct.
20
15 Sept. 30
15
Sept. 30
Cincinnati Postal Terminal & Realty Co.—
...
$154
Oct.
15 Sept.
$134
6*4% preferred (quarterly)
Jan.
1 Dec.
Nov.
1 Oct.
3
Cincinnati Union Terminal Co.—
5% preferred (quar.)
City Baking, preferred (quarterly)..
Clark Controller Co. (special)
Cleveland Cincinnati
"ft
Dec.
Oluett, Peabody & Co., Inc
....
Coleman L & s. Co
SI*
8734c
25c
Oct.
50c
Chicago & St. L. Ry,, pref.
Cleveland & Pittsburgh Ry. reg. gtd. (quar,)...
Oct.
19
26
15 Sept. 30
31 Oct.
8
118
25c
Extra...Consolidated Royalty Oil Co. (quar.)
Consumers Power Co., $5 preferred
5c
(quar.)
...
—
—
60c
65c
—
...
i
—..
quar.)
....
(qu.)
(quarterly)
■
8% preferred (quar.)
Cudahy Packing Co., com. (quar.)
6% preferred (semi-annual)
7% preferred (semi-annual)
Dentist's Supply Co. of New York (quar.)....
7% preferred (quar.)..
Denver Union Stockyards, 5*4% pref. (quar.)_
Deposited Insurance Shares, ser A& B.......
Detroit Edison (quar.)
Detroit Gasket & Mfg. Co. (quar.)
Detroit Hillsdale & South Western RR.......
(quarterly)................
Diamond State Telep., 6 *4 % pref. (quar.)....
Doctor Pepper Co. (quar.)—...............
Dome Mines, Ltd. (quarterly)
Dominion Textile Co. (Ltd.), 7 % pref. (quar.)—
Dow Drug Co
Duquesne Light Co.. 6% cum pref. (quar )
...
First National Bank of Chicago (quar.)
First National Bank of Jersey City, quarterly—
First National Bank (N. Y.) (quarterly)
First National Bank (Toms River, N. J.) (qu.).
Food Machinery
Corp. (quar.)
/...
Froedtert Grain & Malt Co., pref. (quar.)
Frost Steel & Wire, 7% 1st pref. (quar.)
55c
55c
Oct.
Oct.
Jan.
2 Oct.
15
10 Oct.
10 Oct.
I
1
2 Dec. 23
2 Dec. 14
Nov.
Dec. 31 Dec. 25
Dec.
1 Nov. 16
Oct. 15 Sept. 30
Nov.
1 Oct. 15
Nov. 2 Oct. 15
Dec.
1 Nov. 14
Nov. 16 Oct.
15
Nov. 16 Oct.
15
Oct.
Jan.
Jan.
Jan.
Jan.
25
2
2
2
2
Nov.
Dec.
2
1
2
Jan.
Nov.
Dec.
2
1
14
2 Dec. 15
25c
Oct. 31 Oct.
5
25c
Oct. 31 Oct.
5
20c
Nov. 30 Nov. 15
75c" Nov. 2 Oct. 23
75c
Oct. 20 Oct.
5
Oct. 15 Oct.
5
$154
Dec. 10 Dec.
30c
1
Dec. 10 Dec.
10c
1
Jan.
2c
10c
20c
5c
$2.00
6234c
33A
60c
Nov. 15 Oct.
Oct. 10 Oct.
Oct. 15 Oct.
Oct.
15 Oct.
Nov.
5 Oct.
Nov.
2 Oct.
Nov. 2 Oct.
.
1
5
5
5
23
20
20
Dec. 21 Dec. 11
Dec. 31
$1.3734 Dec.
Nov.
*2*4%
$1
15 Oct.
Oct.
31
Oct.
1 Oct.
General Cigar, Inc.,preferred (quar.)....
Preferred (quar.)..—
.........—
Preferred (quar.).............—..........
General Electric Go. (quarterly)
Dec.
Mar.
June
General Mills, Inc. (quarterly)
General Motors Co., $5 preferred (quar.)
General Outdoor Advertising, Inc.,- pref.
Nov.
Preferred
Nov.
1 May 22
26 Sept. 25
2 Oct. 10
Nov. 2 Oct.
5
Oct. 15 Oct.
2
Nov. 15 Nov.
2
1 Oct. 15
1 Oct. 15
Oct. 15 Sept. 30
...
General Stockyards
Preferred (quarterly)
Nov.
—
Nov.
Gilbert (A. O.) Co. $3*4 preferred
$3 *4 preferred (quar.)
Gillette Safety Razor, $5 pref. (quar.)
Gimbel Bros, $6 preferred (new)
Oct.
Nov.
Glen Alden Coal (quarterly)
Globe Wernecke Co., pref. (quar.).
Oct.
Oct.
Jan.
Nov.
7% preferred (quarterly)
Great Lakes Engineering Works (quar.)
Extra
Great Lakes Power Co., A, preference
Great Lakes Terminal Warehouse
Great Southern Life Insurance (Texas).
Oct.
...
Greenfield Tap & Die, $6 preferred—
Guarantee Co. of No. Amer. (Montreal) (quar.)
Extra
$1*4
.......
Gulf States Steel Co., 7% preferred
Harbison-Walker Refractories Co., pref. (quar.).
$1*4
...
h$3*4
Oo. (quarterly)
68*4c
h$l*4
$6*4 pref——
$6*4 Pref. (quar.)
Hawaiian Sugar Oo. (increased)...
Hercules Powder Co.. pref. (quar.)..—
Oct.
3'
60c
r$1.75 Oct.
15c
$134
7
Sept. 19
Septr§5
Sept. 15
Nov. 16 Nov.
5
Oct. 15iSept. 15
Oct.
Oct.
1
1
15
15
1
30
30
28
20 Oct.
7
15 Sept. 30
1 Nov. 15
Nov.
2 Oct. 15
Nov.
2 Oct. 16
Nov.
2 Oct. 16
Dec.
10c
Oct.
30c
Extra
Oct.
10c
Monthly
Monthly
Hollander (A.) & Son. (quarterly)
Extra—'
Oct. 15 Oct.
5
Nov, 14 Nov.
2
Nov. 16 Oct. 24
Nov. 16 Oct. 24
$2
10c
12*4c
—
12*|c
Holly Development Co. (quar.).
Holly Sugar Corp. (quar.)
50c
75c
Extra
$154
30 Oct.
30 Oct.
Nov. 27 Nov.
Dec. 24 Dec.
Nov. 16 Oct.
Nov. 16 Oct.
Oct. 15 Sept.
Nov. 2 Oct.
Nov. 2 Oct.
Nov.
2 Oct.
23
23
20
17
10
10
30
15
15
15c
15
10 Sept. 30
Nov.
1 Oct. 20
30c
Nov,
40c
Nov.
1 Oct.
2 Oct.
20
—
...
h$7
Oct.
15 Oct.
5
h$ 1*4
Oct.
15 Oct.
5
75c
Oct.
87*4c
Oct.
15 Sept. 30a
15 Sept. 30a
Preferred (quar.)
15c
Horders, Inc. (quar.)
Extra
-
Horn & Hardart Co. (N.
Nov.
1 Oct.
10
Nov.
1 Oct.
2 Oct.
20
Nov.
$1*4
Nov.
2 Oct.
15
25c
75c
20c
20c
11c
—
Preferred
(quar.)
—
Interstate Department Stores, pref. (quar.)_—.
Interstate Hosiery Mills, Inc. (quar.)
Investment Foundation, Ltd., 6% conv. pref...
sVM
$1*4
$1*4
50c
13c
pref. O..
6*4% preferred B
7%_preferred A
.....
Iron Fireman Mfg. (quar.)
—
Jamaica Water Supply Co. 7 *4 % pref
Joiiet & Chicago RR., guaranteed com. (quar.).
Kable Bros, (quarterly)
Kalamazoo vegetable
Parchment Co. (quar.)
h75c
h81*4c
J. h87*4c
..
Nov.
Nov.
Oct.
Oct.
$1*4
Nov.
15o
15
1 Oct.
15
3
1 Oct. 20
Nov. 16 Oct. 31
Oct. 15 Sept. 30
Oct. 15 Sept. 30
Oct. 15 Sept. 30
Oct. 10 Sept. 26
Oct. 10 Sept. 26
Oct. 20 Sept. 30
Deo.
15c
2 Oct.
1 Oct.
Nov.
25c
$1.75
15
Nov. 26 Oct. 11
Jan.
2 Dec. 31
Oct. 30 Oct.
1
Nov. 14 Oct. 23
Nov. 14 Oct. 23
Oct. 15 Oct.
5
Oct. 10 Sept. 22
Oct. 15 Sept. 19
Oct. 15 Oct.
3
Nov. 2 Oct.
3
Nov.
8
M354C
7% preferred A...
Iowa Electric Light & Power Co., 6%
13
$154
Extra
Insuranshares Certificates, Inc.
International Business Machines Corp. (quar.).
International Harvester Co. (increased quar.)..
International Milling, 5% pref. (quar.)—.—..
International Nickel Co., pref. (quar.)
International Nickel of Canada 7% pref. (qu.)_.
International Printing Ink (quar.)
Oct.
17*4c
37c
90c
Dec. 19
Nov. 14
Dec.
Oct.
Dec.
Oct.
10 Oct.
1 Oct.
Nov.
1 Oct.
Oct. 20 Oct.
Oct. 15 Sept.
Oct. 15 Sept.
Oct. 15 Sept.
75c
$1
$1J4.
Hershey Chocolate Corp. (quarterly).
Preferred (quarterly)
Hibbard, Spencer, Bartlett So Co., (mo.).
MO 54c
Oct.
10 Oct.
Oct.
Nov.
Green (H. L.) Co. (quar.)
Preferred (quar.)
Iowa Electric Co., 6*4 % B preferred
Jan.
15 Sept. 30
2 Oct.
1
25
20 Oct.
3
1 Dec. 20
2 Oct. 10
Nov. 2 Oct. 13
Nov.
2 Oct. 13
Nov. 2 Oct. 24
Nov. 2 Oct. 24
Oct. 15 Sept. 30
.......
Gold Dust Corp
Gotham Silk Hosiery Co., Inc., 7% pref
Hartford Electric Light
17
2 Oct. 17
1 Nov. 22
1 Feb. 19
Oct.
6% conv. preferred (quarterly)
Investors Fund O, Inc. (quarterly)..
$2
25c
10
2 Oct.
1 Sept. 15
25c
20
Nov.
15 Sept. 30
1 Nov. 20
16
10
Nov.
—
Y.) (quar.)
Hotel Statler Co., Inc., 7% preferred..
6% preferred
—
Household finance Corp., com. CI. A&B (qu.)
Partic. Preference (quarterly).
Hussmann-Ligonier Co. (quarterly)
Preferred (final) (quarterly).
Idaho Power Co., 7% pref. (quar.)
6% pref. vquar.)
Imperial Chemical Industries—
American deposit rets for ordinary regis
Imperial Life Assurance of Canada (quar.)
Incorporated Investors, vot. trust ctfs. (special)
Indiana Pipe Line Co—
—
15
15
15
15
15 Sept. 30
Oct.
.
Preferred (quar.)
Dec.
14
15
20 Oct.
20 Oct.
General Baking (quarterly)
Extra
Honolulu Plantation Co. (monthly)
Dec.
Oct.
Nov.
Dec.
Oct.
Nov.
2 Oct.
1 Oct.
15
Oct.
—...
Oct. 15
Dec. 15
Dec. 15
15
15
15
2 Oct.
2 Oct.
2 Oct.
Oct.
Fyr-Fyter Co
Gardner-Denver Co., com. (quar.)
Extra
Harrisburg Gas Co., 7% pref. (quar.)
Nov.
Nov.
Nov.
Nov.
Nov.
jnov.
Rayon Corp., $2*4 pref. (quar.)
stk. (s.-a.)
Freeport Texas Co., preferred (quar.)
Franklin Teleg. Co., 2*4% gtd.
Hart-Carter, pref
Sept. 30
Sept. 30
15 Sept. 30
15 Sept. 30
15 Sept. 30
Oct.
4*4 % preferred (quar.)
Fran Klin
...
2 Dec. 23
Oct.
Oct.
—
2 Oct.
15 Sept. 30
Jan.
Fishman (M. H.), A & B preferred (quar.)
Nov.
21
10 Sept. 26
Nov.
2 Oct. 16
Oct. 15 Oct.
5
Jan.
2 Dec. 31
Dec. 31 Dec. 24
Jan.
2 Dec. 15
Oct.
—
*
-
Diamond Match
50c
50c
....—
Cresson Consol. Gold Mining & Milling
Crown Drug Co., common
Crum & Forster
Extra
118
$1.65
$154
Continental Oil Co., Delaware
Extra
Extra..
Fedders Manufacturing Co
Fibreboard Products, 6% pref. (quarterly)
Fireman's Fund Insurance Co. (quar.)
Hat Corp. of America,
preference
—
r234%
5% red. income stock, series A—
Columbus Ry. Pow. & Lt. Co., 6)4 % pref. (qu.)
$154
20c
Commercial Discount Co. (Los Angeles) 8% pfd.
1734c
7% preferred (quarterly)
$2
Commercial National Bank & Trust (quar.)....
4c
Commonwealth Investment Co. (Del.) (quar.)..
Confederation Life Association (quar.)
$1
.....
Connecticut River Power, 6% pref. (quar.)
$134
Consolidated Car Heating • quarterly)
$134
37 34c
Consolidated Chemical Industries A&B
Consolidated Cigar, prior preferred (quar.)
Preferred (quar.)
15c
Consolidated Oil Corp. (quarterly)
Copperweld Steel (quar.)..
Corn Exchange Bank Trust
Corn Products Refining Co
Preferred (quar.)
Creamery Package Mfg Co
.
1 Nov. 10
conv.
6%preferred (quar.)
6.6% preferred (quar.)
7% preferred (quar.)
6% preferred (monthly)
6% preferred (monthly)..
6% preferred (monthly)—
6.6% preferred (monthly)
6.6% preferred (monthly)
6.6% preferred (monthly)
Extra
Dec.
Colon Development Co., Ltd.—
6% red.
1
Dec. 10 Nov. 30
Dec.
l Nov. 30
Oct. 20 Oct. 15
Dec. 31 Dec. 15
Extra
Dec.
......
Nov.
Nov.
Oct.
15
6% preferred (quarterly)
.....
Nov.
Oct.
Extra
...........
Oct.
$134
Central Ohio Steel Products.
guarterly (quarterly)
referred
15 Sept. 30
15 Sept. 30
15 Sept. 30
1 Nov. 21
31 Oct. 17
2 Oct. 15
2 Oct. 15
2 Oct. 15
5
20 Oct.
Oct.
Nov. 20
h$5
....
Central Hudson Gas & Electric (quar.)..
Voting trust certificates tquar.)
Oct.
pref. A (quar.)..
Sept. 25
Ml
....
10
10
Dec.
tlH
7% cum. pref. (quar.)
Canadian Bronze Co., Ltd., com
Preferred (quar.)
10
Oct.
Nov.
10c
Jan.
Oct.
—-
3
1
2 Oct.
15 Oct.
26 Oct.
Dec.
4Uc
3
25 Oct.
20 Oct.
Empire A Bay State Teleg. Co.,4% guar, (quar.)
Employers Group Assoc. (quar.)
Engineers Public Service Co., $5 preferred
$5*4 preferred
$6 preferred
Equity Shares. Inc
Erie So Pittsburgh RR., 7% guaranteed (quar.).
Guaranteed betterment (quar.)
Famise Corp., quarterly
Fansteel Metallurgical Corp. $5 pref. (quar.)..
Farmers & Traders Life Insurance (quar.)
Oct.
5
2
Oct.
Sept. 30
Sept. 30
Sept. 19
Sept. 30
Sept. 30
Sept. 30
Sept. 30
Oct.
Oct.
16
Oct.
Oct.
—
Oct.
1
3234c
3734c
Oct.
7% preferred, series 1927—
Nov.
Oct.
40c
7% preferred.......
:
Canada Iron Foundries, 6% non-cum. pref
Canada Northern Power Corp., Ltd. (quar.)...
Oct.
$6 preferred B (quar.)
El Paso Electric Oo. (Texas) $6 pref. (quar.)
Oct.
10
2 Oct.
Nov. 16 Nov.
20 Oct.
Oct. 20 Oct.
El Paso Electric Co. (Del.) 7%
70c
5%
...
Electric Household Utilities.
Electric Products Corp. (Pa.)
24 Oct.
Oct.
Sept. 25
Burmah Oil Co. (interim)
California Oregon Power, 6% pref.—.
Mahoning RR. Co. (semi-annual)
Eaton Mfg Co. (quar.)
Economical-Cunningham Drug...
Preferred (quar.)
Economy Grocery Stores Con)
Edison Electric illuminating Co. of Boston, (qu.)
Electric Auto-Lite (increased)
Oct" "15"
Oalamba Sugar Estates
(quarterly)—....
Nov;
Oct.
Oct.
Oct.
6c
pref
Holders
Nov.
15c
Blaw-Knox Co
When
Payable of Record
20c
118
Oct.
Per
Share
Name of Company
2oc
1234c
Bangor Hydro-Electric Co
Barnsdall Oil Co. (quar.)
Bayuk Cigars, 1st preferred (quar.)
Beatty Bros., Ltd., 6% preferred (quar.)
Belding Heminway Co. (quar.)
Bell Telephone of Canada (quar.)
Bell Telephone of Penna., 6*4 % pref. (qu.)_—
Bishop Oil Corp. (quar.)..
2315
20 Sept. 30
20 Sept. 30
1 Nov.
5
1 Oct.
11
Oct.
6 Sept. 23
Oct. 10 Sept. 30
Dec. 31 Dec. 21
Financial
2316
Per
Share
Name of Company
Iloldt
rs
Per
Payable of Record
Nov.
Name of
--
10
Oct.
25
Otis Elevator Co. (quar.)
----6% preferred (quar.)
Pacific American Fisheries, Inc
Oct.
12
Oct.
12
Oct.
Preferred (quar.)
Kentucky Utilities 6% preferred (quar.)__Keystone Steel & Wire Co
King Seeley Corp. (initial)
j
Ontario
20
Oct.
.Extra.
20
Oct.
Oct.
Nov.
Kellogg Switchboard & Supply Co. (quar.)
Oct
Nov.
————
Oct.
12
Oct.
Oct.
Oct.
7
Oct.
Oct.
1
Dec.
Kroehler Mfg. Co., class A preferred (quar.)___
Kroger Grocery & Baking Co.. 7% pref. (quar.)_
Landers, Frary & Clark (quarterly)
Landis Machine Co. (quar.)
Preferred (quarterly)
Lane Bryant, Inc., 7% preferred (quar.)
Lawrence Gas & Electric Co
»■
Dec. 23
20
Nov.
Nov.
Nov.
5
Dec.
Dec.
5
Nov.
Oct.
Oct.
Leonard Refining, Inc. (initial)
Oct.
Sept. 15
Lerner Stores Corp. (quar.)
Extra
Oct.
Oct.
5
Oct.
Oct.
5
Nov.
Nov.
Oct. 20
Sept. 30
Oct. 27
Preferred (quar.)
Lexington Telephone, 6
15
Oct.
Oct.
Dec.
(quar.)
Link Belt Co. (quar.)
Nov. 16
Nov. 16
Dec. 15
Dec.
Extra
Jan.
Preferred (quar.)
Lion Oil Refining^Co
Oct.
19
Sept. 30
Little Miami RR., special guaranteed (quarterly)
Dec.
Nov. 25
Original capital
Liquid Carbonic Corp. (quar.)
Lit Bros., preferred__i
Little Long Lac Gold Mines.
Lock-Joint Pipe Co. 8% preferred (quar.)
Dec.
Nov. 25
Nov.
Oct.
Oct.
Sept. 30
Loose-Wiles Biscuit Co.
17
Oct.
Oct.
10
Jan.
Dec.
31
Nov.
common
Oct.
16a
Jan.
Dec.
18a
Lord & Taylor, 2d preferred (quar.)
Los Angeles Gas <fe Electric Corp. 6% pref
Louisville Gas & Elec. Co., 7% cum. pref. (qu.)_
Nov.
Oct.
17
Nov.
Oct.
31
Oct.
6% cumulative preferred (quar.)
5% cumulative preferred (quar.)
Lowell Electric Light vquar.)
Lunkenheimer Co., preferred (quar.)
Mac Andrews & Forbes (quar.)
Preferred (quar.)
Magma Copper Co
Magnin (I.) & Co. (quar.)
Magnin (I.) & Co., $6 preferred (quar.)
Mahon (R. O.) preferred A (quar.)
Mahoning Coal RR. (quar.)
Manufacturers Trust Co. (N. Y.)—
$2 conv. preferred (initial)
Maple Leaf Gardens. Ltd.. 7% pref
Marchant Calculating Machine
Oct.
Sept.
Sept.
Sept.
Sept.
30
30
30
Oct.
Sept.
Sept.
Sept.
Sept.
30
30
30
30
Nov
Nov
5% preferred (quar.)
Oct.
Oct.
30
Dec. 21
Jan.
Oct.
Oct.
Oct
Oct.
Oct.
1
International Marine—
Amer. dep. rec. ord. register (interim)
x w2
Oct.
25c
Oct.
10 Sept.
Oct.
31
$2
Oct.
15
Oct.
•—
—
$6 preferred (quar.)
Massachusetts Trust
Massachusetts Utilities Assoc., pref.
McCall Corp., common (quar.)
>4%
$1.17
$134
Margay Oil Corp. (quar.)
26 Oct.
15 Sept. 30
30
23c
Oct.
Nov.
43tfc
McClatchy Newspapers, 7% pref. (quar.)
McColl Frontenac Oil, Ltd., pref. (quar.)
McCrory Stores Corp., 6% pref. (quar.)
Oct.
62 34c
50c
(quar.)
Nov. 30 Nov. 30
$1.50
Oct.
20 Sept
15 Sept
30
2 Oct.
15
Nov.
20c
Nov.
1 Oct.
1 Oct.
15c
Dec. 31 Dec. 28
Oct.
15 Oct.
1
15 Oct.
1
2 Oct.
15
2 Oct.
15
16
St. Louis Bridge Co., 6% 1st
Ritter Dentral Mfg. Co. (resumed)
River Rasin Paper Co
Ruud Manufacturing
15 Sept. 30
10
San Antonio Gold Mines, Ltd
2 Oct.
12
San Diego Consol. Gas & Electric, pref. (quar.).
San Francisco Remedial Loan Assoc. (quar.)
Mar. 31 Mar. 15
Second Twin Bell Syndicate (monthly)
25c
June
Security Storage Co. (quar.)
Sedalia Water Co., 7% preferred (.quar.)
Seeman Bros., Inc., common (quar.)Selfridge Provincial Stores.
Servel, Inc., 7% cum. preferred (quar.)
Sharp & Dohrne. Inc., preferred i.quar.)—
Shareholders Corp. (.quarterly)
Sheaffer (W. A.) Pen Co. (semi-ann.)
$8 preferred (quar.)
Sheep Creek Gold Mines (quar.)__
Shenandoah Corp., opt;on. pref
Skelly Oil Co., 6% preferred
Smith (S. Morgan) Co. (quar.)
Smith (Howard) Paper Mill, 6% pref
Solvay American Investment, preferred (quar.).
Sonotone Corp., common
Soss Mfg. Co. (initial, quar.)
Southern Acid & Sulphur Co.. inc
Southern Calif. Edison (quar.)
Sou. Calif Edison Co., Ltd., orig. pref. (quar.).
5H % preferred, series O (quar.)
Southern Calif. Gas. 6% pref. (quar.)
.6 % preferred A (quar.)
Southern CanadaPower Co., 6% cum. pref.(qu.)
Southern Counties Gas Co.. 6% pref. (qu.)
Southern Franklin Process Co., 7% pref.,
Southern New England Telep. (quar.)_
Southland Royalty Co.. common
Spicer Mfg. Corp. (resumed)
14
15
11
Oct.
15 Sept
Oct.
80c
Oct.
31 Sept. 30
15 Sept. 30
Montreal Tramways Co. (quar.)
Moore (Wm. R.) Dry Goods.(quar.)
$234
$134
Oct.
15 Oct.
Jan.
3
2 Jam—2—
90c
Nov
3 Oct
75c
Oct.
1
1 Nov
26
Sept. 30
Dec.
28 Dec.
25c
Oct.
15 Sept. 30
50c
Oct * 15 Sept 20
15 Aug. 31
Oct.
$134
Mutual System. Inc.. 8% cum. pref. (quar.)
Common (quarterly!
5c
Nash Motors (quarterly)
25c
—
37 34c
Nov.
Nov.
17
2 Oct.
20
Oct.
10
1
40c
Oct
15 Sept. 11
25c
Oct
15 Sept. 30
1234c
$134
National Casket Co. (semi ann.)
National Distillers Corp. (quar.)_
National Founding, A and B (quar.)
National Fuel Gas Co
~
National Lead Co., Class B pref. (quar.)_
National Power & Light Co. $6 pref.
(quar.)
Nehi Corp., 1st preferred-
Oct
50c
15 Sept. 30
Nov. 14 Oct. 31
Nov
1734c
Nevada-California Electric 7% pref. (quar.)
New Bedford Gas & Edison Light Co.
(qu.)
Newberry (J. J.) Realty, 634% pref. A (quar.)
6% preferred B (quar.)
Oct.
25c
_
Oct.
$134
$1 34
h% 53i
$154
.
.
New Brunswick Telep. (quar.)
New Jersey Zinc Co. (quar.)
2 Oct
15
20 Sept. 30
15 Sept. 30
Nov.
2 Oct.
16
Nov.
2 Sept
29
Oct.
Nov.
15 Sept. 30
2 Sept. 30
15 Sept. 30
1 Oct.
16
$1.62 34 Nov.
$1.50
1 Oct.
16
Nov.
Oct.
12
34c,
50c
New York Telephone 6 >4 % pref.
(quar.)
New York Transit Co (semi-annual)
Extra
Oct.
15 Sept.30
Nov. 10 Oct.
20
$154
Oct.
15
15c
Oct.
15 Sept. 25
5c
Nineteen Hundred Corp.. class A (quar.)
Norfolk & Western, preferred (quar.)
Oct.
15 Sept. 25
14 Oct. 31
50c
$1
$134
North American Edison Co., pref. iquar.)__
North American Investment Corp., 6% pref__
Nov.
...
Dec.
Oct.
$234
$134
Oct.
20c
Dec.
1
31
Nov. 16
20 Sept 30
20 Sept. 30
1 Nov
15
Dec.
10 Nov. 27
Oct.
16 Oct.
'
$4
6854c
6% preferred
7% preferred
Northern RR. Co. of N. J., 4% gtd (quar.)
Northern States Power (Del.), 7% pref.
(qu.)__
6% preferred (quar.)
Northwest Engineering Co
Northwestern Bell Telep., 634% pref. (quar.)_-
Oct.
14 Sept. 30
75c
Oct.
Oct.
14 Sept.30
14 Sept. 30
$1
$154
$1 34
25c
Dec.
Oct.
Oct
Nov.
Oct.
Oct.
Oct.
25c
Oct.
$134
I
$154
20c
Ohio Brass Co. (quar.)
15
8734c
20c
Oahu Sugar Co., Ltd. (monthly)
Extra
'
_
Sept. 18
Nov. 19 Oct.
h$ 3
North Oklahoma Gas Co., 6% pref. (quar.)
North River Insurance (quar.)
North Star Insurance (special)
Northern Indiana Public Service 5H% pref
10
15 Oct.
15
Oct.
1 Nov
21
20 Sept. 30
20 Sept 30
2 Oct.
15
15 Sept. 19
15 Oct.
5
15 Oct.
5
24 Sept. 30
15 Sept. 30
35c
Nov.
1
Oct.
15
25c
Nov.
1
Oct.
15
1
Nov.
2 Oct.
1
Nov.
2 Oct.
10
Oct.
15 Sept. 25
Oct.
10 Oct.
Oct.
Jan.
Oct.
1
10 Sept. 30
10 Dec. 31
10 Sept. 30
Jan
Oct
Jan
Dec.
6 Sept. 10
5 Dec. 10
Sept. 30 Sept. 10
Dec.
1 Nov. 20
OCt.
20 Sept. 23
Oct.
20 Sept. 23
15 Oct.
1
Oct.
Oct.
Oct.
Dec.
21
50c
Oct.
Oct.
1
$154
3754c
$1
$1
Oct.
$154
Oct.
Oct.
Oct.
15 Sept. 21
Nov. 16 Oct. 24
Oct. 15 Oct.
1
Oct. 15 Oct.
1
Nov. 30 Nov.
2
20c
Oct.
loiSept. 30
30
5c
Oct.
20'Sept.
Oct.
20 Sept. 30
Oct.
Sept.30
Dec.
Dec.
1
Nov.
Oct.
20
Nov.
Oct.
15
Oct.
Sept. 25
Nov.
Oct.
22
Nov.
2 Oct.
22
Oct.
Oct.
$354
Nov.
23 Oct.
5
15 Sept. 30
—
,
Preferred
2 Oct.
31
Nov.
2 Oct.
31
Nov.
2 Oct.
10
Nov.
2 Oct.
10
Nov.
1 Oct.
15
$1
25c
Nov.
1
15
Oct.
20 Oct. .10
10 Sept. 25
Dec.
15 Dec.
5
$1 n
$3
$154
$154
Oct.
Oct.
Nov.
1
Oct.
15
Jan.
1
Dec.
15
Jan.
1
Dec.
15
(quarterly)
—
Spiegel May Stern Co., $6V4 preferred (quar.)__
Squibb (E. R.) & Sons, 1st pref. (quar.)
Standard Cap & Seal (quar.)__Standard-Coosa-Thatcher Co., 7% pref. (qu.)__
_—•
Dec.
31
Oct.
$154
Oct.
10 Sept. 15
15 Sept.30
75c
Dec.
31 Dec.
50c
Dec.
25c
Dec.
1 Nov. 20
15 Sept. 30
26 Oct.
r 7c
25c
Oct
Oct.
Oct.
Oct.
15c
15 Oct.
20c
Preferred (quar.)
;
Ohio Steel Products, increased
Extra
Co. (quarterly)
Oct.
r37c
534% preferred (quarterly)
_
Oct.
Montreal Lt.. Heat & Power Consol. (quar.)
Montreal Teleg. (quar.)
National Automotive Fibres class A
National Biscuit Co. (quarterly)
National Bond & Share Corp
National Cash Register Co. (quar.)
—
25c
$1
$2
Dec.
20
$3
$154
Mountain States Telep. & Teleg. (quar.)
Mutual Chemical Co of Am. 6% pref. (quar.)-_
Mutual Investors Fund
2 Oct.
10c
--
pref. ^semi-ann.)__
3% 2nd preferred (semi-annual)
St. Louis Rocky Mt. & Pacific, preferred
Morrell (John) & Co
Morris (Philip) & Co. (quarterly)
Morris Plan Insurance Society (quar.)
1 Nov. 20
Nov.
50c
Saguenay Power Co., 5>4% pref. (quar.)..-
31 Oct.
30 June
21
Dec.
15c
Oct.
-
2 Oct.
5
50c
$1
24 Dec.
Nov.
$454
R. I. Public Service Co., pref. (quar.)
Class A (quarterly)
1
Nov.
Nov. 16 Nov.
Jan.
lc
2c
1
$134
1 Dec. 15
Nov. 16 Nov.
5
Feb. 15 Feb.
5
10c
15 Oct.
Oct.
1
Jan.
15c
15 Oct.
Nov.
19
20
50c
Oct.
Nov.
2 Oct.
2 Oct.
15 Oct.
60c
Oct.
25c
Oct.
50c
15c
$133
Nov.
Nov.
20c
26c
Participating preferred
Participating preferred (special).
Michigan Public Service 7% pref_6% preferred
Missouri Portland Cement (increased)
Missouri River-Sioux City Bridge Co.—
Cumulative participating preferred (quar.)
Mohawk Carpet Mills (quar.)
Montana Power, 86 pref. (quar.)
Montgomery (H. A.) Co. (quar.)
Quarterly
Quarterly
;
Montgomery Ward & Co
20
15 Sept. 30
Nov.
2 Oct. 19
5c
10
Mercantile Trust & Saving Bank (Chic.) quar...
Merchants & Mfrs. Securities, class A (resumed)
Class A (increased)
20
Oct.
"
Republic Steel Corp. cum. preferred A
Rex Hide. Inc. (increased)
Richmond Fredericksburg & Potomac RR—
7% guaranteed (semi-ann.)
—
6 % guaranteed (semi-ann.)
Richmond Insurance Co. of N. Y. (quar.)
10
Nov.
Nov. 16 Oct.
Nov. 16 Oct.
10c
Extra
15 Sept. 30
1 Oct. 20
$134
McLellan Stores Co. (initial)
Preferred (quarterly)
Oct.
$2
_
Sept.~30~
15
15 Sept.30
15 Sept. 30
$154
3754c
—
8% preferred (quarterly)
Rapid Electrotype (quarterly)—----—
Rath Packing Co
Reading Co. (quarterly)
Reed (T.) Gold Mines .resumed)
Reliance Mfg. Co. (ill.) quarterly
1
19
1
1 Oct.
Oct.
Sept.30
Sept. 30
Sept. 15
Sept. 15
Sept. 25
Sept. 30
Class A & B extra
Masonite Corp., 7% preferred
Massachusetts Lighting Cos.. $8 pref. (quar.)__
15 Oct.
Nov.
$1
25c
6% pref. (mo.)..
Puget Sound Power & Light, $5 preferred
Pullman, Inc. (quarterly)
Quaker Oats Co. (quar.)--Special
6% preferred (quar.)
Quaker State Oil Refining (quar.)
Railroad Employees Corp., cl. A & B (.qu.)
10 Sept. 30
15 Sept. 26
15 Sept. 26
50c
Public Service Corp. of N. J.,
1
Oct.
Holders
Nov. 30 Nov. 20
Oct.
25c
—
initial)
Public National Bank & Trust Co. (quar.)
15
Oct.
-
50c
Extra
1
15 Oct.
15 Oct.
Oct.
$1.50
-,
Procter & Gamble. 8% Dref. (quar.)._ —
Prudential Investors, 6% preferred (quar.)
Sept. 30
Nov.
30c
—
Sept. 29
Nov.
Preferred
6UC
Extra.:
7% preferred (quarterly)
$1.75
7% preferred (quarterly)
$1.75
Penmans. Ltd. (quar.)
75c
Preferred (quar.)
$1M
Pennsylvania Power Co., $6 pref. (quar.)
$1>4
55c
$6.60 preferred (monthly)
55c
$6.60 preferred (monthly)..
$1
Pennsylvania Salt Mfg. Co. (quar.)
15c
Philadelphia Co. (quarterly)
$1>4
6% preferred (semi-ann.)
$1 >4
Philadelphia Electric, $5 preferred (quar.)
30c
Philadelphia National Insurance Co. (s.-a.)
$2 >4
Philadelphia & Trenton RR. (quar.)
50c
Phoenix Finance Corp., preferred (quarterly) J_
60c
Preferred (quarterly)
75c
Piedmont & Northern Ry. Co. (quar.)
$144
Pittsburgh Ft, Wayne & Chicago Ry. Co. (quar.)
$1*
7% preferred (quarterly)
—
$154'
7% preferred (quarterly)
17 >4c
Pittsburgh Thrift Corp. (quar.)
Pittsburgh Youngstown & Ashtabula Ry. Co.—
$154
7% preferred (quarterly)
$1>4
Plymouth Cordage Co. (quarterly)
1254c
Employees stock
Portland Gas Light Co., $6 pref. (quar.;
$154
Power Corp. of Canada, Ltd.—
6% 1st preferred (quarterly)
------ rl54%
rl 5c
6% 2nd participating pref. (quar.)
3c
Premier Gold Mining (quar.)
Sept. 30
Oct.
prior pref. (quar.) $
Lincoln National Life Insurance (quar.)
Lincoln Printing Co. (resumed)
$i y<
$1>4
37>4c
Lighting Corp. $6 pref. (quar.)---
Pan American Airways Corp
Paraffine Cos., Inc., 4% pref. (guar,
Peninsular Telephone (quarterly)
When
Payable of Record
Oct.
21
Extra—.
Oct.
10, 1936
Oct.
Pacific Tel. & Tel., preferred (quar.)
Pacific Tin Co. .quarterly)--
Jan.
15c
--
Pacific Gas & Electric Co. (quar.)
Pacific Lighting Corp., com. (quar.)
15
Oct.
25c
Manufacturing (extra)---
5% preferred (quar.)
Pacific
Sept. 25
Nov.
Knott Corp
Share
Company
Oct.
ExtraKaufmann Department Stores (quar.)
Keith (G. E.) Co.. 7% preferred
Marconi
Oct.
Oct.
Kalamazoo Stove Co. (quar.)
•
.
When
Chronicle
Oct.
15
15 Sept. 30
$154
$154
6254c
254%
$154
87 L4C
Oct.
10 Oct.
Oct-
15 Oct.
31 Oct.
Oct.
Nov. 30
Jan.
2
Nov
Oct i
$1
$2
Oct.
15 Sept. 30
Oct.
2c
Oct.
20 Sept. 30
15 Sept.30
Oct.
3
24 Oct.
19
$6
Nov.
2 Oct.
1
$1
Nov.
1 Nov.
$154
$1 Vs
Oct.
Nov. 16 Oct.
5c
Oct.
15 Oct.
1
Oct.
15 Oct.
1
25c
Oct.
3754c
3754c
3454c
3754c
37 54c
154%
$154
$154
$154
15 Sept. 10
Nov. 15 Oct. 20
Oct.
15 Sept. 20
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
15 Sept. 20
15 Sept. 30
15 Sept. 30
15 Sept. 19
15 Sept. 30
10c
Oct.
10 Sept. 25
15 Sept. 30
15 Sept.30
$1
75c
Oct,
15 Oct.
Oct.
15 Oct.
Oct.
Nov.
$154
$154
Nov.
60c
Nov.
Oct.
15
2 Oct.
15
2 Oct.
3
A
Oct.
Oct.
Oct
15
Oct.
•/h
Nov.
16
Oct.
15
75c
1
4354 c
4354 c
Sterling Brewers, Inc
Sterling Securities Corp. 1st $3 pref
Sterling Securities, 1st preferred
Stewart-Warner Corp., common (semi-ann.)
Common (extra)
Superheater Co
Superior Oil of California preferred
Supervised Shares, Inc
Tacony Palmyra Bridge., 5% preferred (quar.).
Tampa Gas Co., 8% pref. (quar.)
7% preferred (quarterly)
Telautograph Corp. (quarterly)
Thatcher Manufacturing Co., conv. pref. tquar.)
Toronto Elevators, Ltd., pref. (quar.)
Tri-State Telep. & Teleg., 6% pref. (quar.)
Tuckett Tobacco Co.. Ltd.. preferred (quar.)
-...
—
—
5
5
c%
$154
3154c
Steel Co. of Canada (quar.)
Preferred (quar.)
15
1254c
lc
Stanley Works. 5% preferred (quar.)
State Street Investment (quarterly)
1
15 Sept.30
$1.25
5% Preferred (quarterly)
Standard Silver Lead Mining—
Dec." 19"
2 Oct. 16
15 Sept.30
10c
25c
Standard Oil of Ohio (quarterly)
1
1
15
15 Oct. 15
15 Sept. 30
Sept.30
Sept.30
Sept.30~
Nov
2 Oct
7
Nov.
2 Oct.
7
20c
Oct.
10 Sent. 26
h% 3
/i$3
Oct.
15 Sept. 30
15 Sept. 30
25c
Oct.
Dec.
50c
Dec.
20c
Oct.
h\%
Oct.
13c
1
Nov.
2
1
Nov.
2
15 Oct.
25 Oct.
5
Oct.
,ig
$154
15c
90c
$154
15c
$154
10
15 Sept. 30
Nov.
1 Sept. 17
Dec.
1 Nov. 20
Dec.
1 Nov. 20
Nov.
2 Oct.
Nov. 15 Oct.
Oct. 15 Oct.
Dec.
Oct.
15
31
1
1 Nov. 16
15 Sept. 30
-
Volume
Financial
143
Share
of Company '
Twentieth Century-Pox Film Corp., common,.
208 8. La Salle Street Bldg. Corp. (Chicago)
'■
Twin Coach Co.
$1
23 Oct.
Oct.
Jan.
19
15 Oct.
3
50c
Nov.
2 Oct.
20
tl'A
Nov.
1 Oct.
16
15c
Oct.
United Dyewood Corp., preferred (quar.)
UX
Jan.
United Fruit- Co. (quar.)
United Gold Equities of Canada, Ltd.—
Standard shares (quar.)
75c
Oct.
10c
t
15 Sept. 30
1
Dec.
11
15 Sept. 24
15 Oct.
5
581-3C
Nov.
2 Oct.
15
581-3C
Oct.
Dec.
1
581-3c
r3c
United Light & Railways, 7% pref. (mo.)
-
7% pref. (monthly)
7% pref. (monthly)
6.36% pref. (monthly)
6.36% pref. (monthly),
6.36% pref. (monthly).
6% pref. (monthly)
i
6% pref. (monthly)
6% pref. (monthly)
United Investment Shares, Inc.—
Class A registered
Class C registered
Nov.16
Jan.
2 Dec.
54c
Nov.
Dec.
2 Oct.
15
1 Nov. 16
54c
Jan.
2 Dec.
15
Nov.
2 Oct.
15
50c
Dec.
1
50c
Jan.
2 Dec.
13.8c
1.8c
Oct.
Oct.
15 Sept. 30
15 Sept. 30
$2H
Oct.
10 Sept.21
Oct.
50c
Nov. 16
15
50c
Oct.
31 Sept. 30
15 Sept. 25
2c
Oct.
5c
37 He
37 He
2 Oct.
2 Dec.
Jan.
Class B
Jan.
20c
2 Dec.
Nov.
Nov.
%IX
81H
Nov.
Nov.
2 Oct.
5
25c
Nov.
Oct.
10
1
Nov.
5
Nov.
1
12Hc
SIX
Nov.
2
1
50c
Dec.
Oct.
81H
Wrigley (Wm.) Jr. Co. (monthly)
20
Nov. 15 Nov.
10c
11H
Extra
25c
Monthly
Monthly
Monthly.
Monthly
Monthly
15
1
2 Oct.
2 Oct.
h$1.25
-
•»•»«•<
.
■
Nov. 14
1
2 Oct.
15
15 Sept. 30
Nov.
20
2 Oct.
25c
Dec.
1
25c
Jan.
2 Dec.
19
25c
Feb.
1
Jan.
20
25c
Mar.
1
Feb.
20
25c
Apr.
8c
...
Oct.
Nov. 20
Yukon Gold Co
Transfer books not closed for this dividend.
c
The following corrections have
e
] Mar. 20
8
21 Oct.
Payable in stock.
21
23
/ Payable in
stock,
common
g
been made:
Payable in scrip.
preferred stock.
h On account of accum¬
15 Oct.
1
Oct.
20 Oct.
12
10c
Universal Insurance (Newark, N. J.)
Oct.
20 Oct.
12
k Entire issue called at $5.50 per share and the above dividend on Oct. 1
Nov. 14
1936.
Conversion period expires on Sept. 19.
Conversion basis is at the
rate of 11 shares of common for 10 shares of class A convertible pref. held.
Oct.
25c
Upper Michigan Power & Light Co.—
6% preferred (quar.)..
6% preferred (quar.)
Van Norman Machine Tool Co. (initial)
1
Feb.
June
1
Nov.
2 Oct.
15
m
19
S1H
S1H
Nov.
40c
Nov.
1
Oct.
Nov.
1
Oct.
25
1 Oct.
Feb.
26
1 Jan.
SIX
Virginian Ry. 6% pref. (quar.)
Vulcan Detinning, preferred (quarterly)
Walker Mfg. Co., $3 con v. preferred
$1 H
Nov.
SIX
Oct.
/i75c
Nov.
1
Oct.
15
10
21
25c
Nov.
2 Oct.
15
Warren Foundry & Pipe (quarterly)
I
2 Octi
20 Oct.
Oct.
2 Oct.
15
3
1
Nov.
Dec.
1
Nov.
Nov.
2 Oct.
Dec.
30c
1
15 Oct.
Nov.
SIX
$1H
$2H
Washington Ry. & Elec. Co.. 5% pref. (quar.)..
5% preferred (semi-ann.)
Wentworth Mfg. Co. (quarterly)
10 Dec.
Dec.
$1
(semi-ann.)
The weekly statement
issued by the
Clearing House is given in full below:
THE
16
Extra dividend payable in the 6% cum. sinking fund pref. stock of the
Pure Rye Distilling Co. at the rate of one share for each 50
p
a
Deposited Insurance Shares, series A & B stock div. of 2H% payable
Holders have option of dividend in cash based on liqui¬
s
dating value of shares.
u
Payable in U. S. funds,
x
Less tax.
WEEK
ENDED
♦
Clearing House
Net
Undivided
Capital
Members
OCT.
expenses,
z
Per 100 shares.
1936
in
York
New York at the close of
business
Oct.
7
1936,
comparison with the previous week and the corresponding
date last year:
Time
Demand
Deposits,
Average
Profits
3,
Less depositary expenses.
following shows the condition of the Federal Reserve
Bank of
SATURDAY,
Surplus and
w
A deduction has been made for
y
New
The
City
HOUSE
CLEARING
held.
in trust shares.
16
15
common
Payable in Canadian funds, and in the case of non-residents of Canada,
reduction of a tax of 5% of the amount of such dividend will be made.
r
Condition of the Federal Reserve Bank of
New .York
YORK
NEW
held.
thejiolder in class B
Baltimore
shares of the Finance A and B
Weekly Return of the New York City
Clearing House
THE
Federal Mogul Corp. optional stock div. of 1 sh. for each 10 shs.
26
Vapor Car Heating Co., preferred (quar.)
OF
j Payable in
Initial dividend, payable in cash or at the option of
stock at the rate of 1-16th of a share.
25
20c
MEMBERS
dividends,
n
Extra
Extra
ulated
May 15
75c
Universal Leaf Tobacco (quar.)
1
Mar.
25c
...
Dec.
25c
(quar.)
*
Quarterly
Quarterly
FOR
25c
81 H
Will & Ballmer Candle Co.. Inc., common
Wlnstead Hosiery Co. (quarterly)
20 Sept. 30
Dec. 21 Nov. 30
1
Oct. 15 Oct.
$2
....
ASSOCIATION
4-30-37 3-31-37
7-30-37 6-30-37
10-30-37 9-30-37
1-30-38 12-31-37
25c
87 He
SI
(quar.).
Universal Cooler, class A
OF
30 Sept. 30
Oct.
United States Smelting, Refining & Mining..-.
STATEMENT
15 Sept. 20
15 Sept. 20
Oct.
25c
a
Nov.
68 He
Preferred (initial quarterly)
Oct.
25c
25c
15 Sept. 30
—
United States National Corp. (liquidating)
United States Pipe & Foundry Co. common (qu.)
Common (quar.)
Oct.
r50c
Preferred (quarterly)
Wisconsin Gas & Elec. Co. 6% pref. C (quar.).
15
Payable of Record
r$1.75
Wilson & Co. (quarterly)
50c
—
United Standard Oilfund of America (quar.)
United States Hoffman Machinery Corp.—
Warren RR. Co.
.
Western Grocers, Ltd., common (quar.)
7% preferred (quarterly)
Westinghouse Air Brake (quar.)
Quarterly
Quarterly
Quarterly
Quarterly
West Jersey & Seashore. 6% spec. gtd. (s.-a.)_.
Westminster Paper Co., Ltd. (semi-ann.)
Weston (George), Ltd., 5% pref. (quar.)
West Penn Power Co., 7% preferred (quar.)-.
6% preferred (quar.)
Wcstvaco Chlorine Products. 5% preferred-_.
Holders
When
Share
54c
United N. J. RR. & Canal Co
United Profit Sharing Corp., 10% pf. (s.-a.)
United Securities, Ltd. (quar.)
Preferred
Oct.
Name of Company
16
4 Dec.
Union Investment Co. (special)
United Biscuit Co. of Amer., preferred (quar.).
United Bond & Share, Ltd., extra
common
Per
Payable of Record
50c
Quarterly
2317
Holders
When
Per
Name
Chronicle
Deposits,
Oct. 7,
1936
Sept. 30, 1936
Oct. 9, 1935
Average
$
s
Bank of N. Y. & Tr. Co.
Bank of Manhattan Co..
6,000,000
20,000,000
National City Bank
Chemical Bk. & Tr. Co..
177,500,000
20,000,000
Guaranty Trust Co
90,000,000
242,935,000
Assets—
10,955,200
136,442,000
25,431,700
425,865,000
253,577,400 al,439,217,000
52,685,400
462,070,000
177,649,400 51,456,967,000
234,011,900
484,666,000
63,661,200
725,997,000
16,662,900
248,425,00)
90,750,600
498,157,000
59,102,000
530,479,000
3,871,000
55,181,000
122,927,400 c2,031,751,000
3,440,500
45,313,000
69,091,300
d808,080,000
2,724,200
18,433,000
8,385,100
83,283,000
227744,400
334,024,000
7,873,900
76,868,000
8,595,100
85,473,000
12,481,000
33,759,000
164,916,000
9,656,000
36,455,000
96,346,000
834,141,100
581,288,000
Treasury
notes
official reports: National, June 30, 1936; State, June 30, 1936; trust
companies, June 30, 1936.
x As of Aug. 1, 1936.
2 As of July 21, 1936.
Includes deposits in foreign branches as follows: a
5247,788,000; b 591,603,000;
c $94,079,000; d $32,651,000.
Treasury
bills
Manufacturers Trust Co.
Cent. Hanover Bk. & Tr.
Corn Exch. Bank Tr. Co.
21,000,000
15,000,000
First National Bank
10,000,000
Irving Trust Co
50,000,000
Continental Bk. & Tr.Co
4,000,000
Chase National Bank
103,964,300
Fifth Avenue Bank
500,000
Bankers Trust Co
25,000,000
Title Guar. & Trust Co..
10,000,000
Marine Midland Tr. Co.
5,000,000
New
300
Com'l Nat. Bk. & Tr.Co.
7,000,000
5,775,000
Public N. B. & Tr. Co..
Gold certificates
on
hand and due from
3,231,886,000 3,119,998,000 2,782,273,000
United States Treasury x
886,000
Redemption fund—F. R. notes
t
*
As
526,174,300
9,946,691,000
Total reserves
York
New
3,500,000
355,000
2,448,000
54,733,000
3,292,801,000 3,182,913,000 2,829,494,000
Bills discounted:
Secured
3,070j000
22,862,000
1,381,000
45,054,000
by
S. Govt, obligations,
(or) fully guaranteed
U.
direct and
Total bills
discounted..
"Times"
1,695,000
5,901,000
4,518,000
5,687,000
7,211,000
1,105,000
6,360,000
1,801,000
7,301,000
100,381,000
383,224,000
161,638,000
102,766,000
392,320,000
165,475,000
484,846,000
645,243,000
660,561,000
744,317,000
658,376,000
advances
7,596,000
675,622,000
760,630,000
83,000
4,296,000
81,000
7,418,000
170,306,000
10,856,000
29,214,000
111,521,000
United States government securities:
Total U. S. Government securities
Total bills and securities
Due from foreign banks
Federal Reserve notes of other banks..
Uncollected items
147,380,000
Bank premises
BUSINESS
NOT
IN
FOR
NATIONAL
CLEARING
THE
AND
WEEK
STATE
Loans,
and
Disc,
Manhattan—
$
Sterling National—
Trade Bank of N. Y.
WITH
THE
Other
Cash,
Including
Notes
CLOSING
FRIDAY, OCT. 2,
BANKS—AVERAGE
Investments Bank
Grace National
HOUSE
ENDED
Res.
OF
Dep. Other
Banks and
Gross
Trust Cos.
Deposits
$
$
$
1
24,277,000
20,556,000
5,723,243
96,900
574,000
5,538,300
5,380,000
199,499
4,080,000
98,000
29,683,000
Total assets
FIGURES
Dep.,
Elsewhere
10,856,000
All other assets...
79,866,000
179,605,000
256,000'
6,914,000
12,029,000
30,618,000
1936
Y. and
N.
2,693,000
_1,103,0.00.
6,343,000
Bills bought in open market
Industrial
2,178,000
3,509,000
Other bills discounted
39,347,000
586,000
publishes regularly each week
returns of a number of banks and trust
companies which
are not members of the New York
Clearing House.
The
following are the figures for the week ended Oct. 2:
INSTITUTIONS
1,227,000
45,994,000
22.557.0C0
per
The
1,084,000
61,831,000
31,782,000
Bonds
Totals
T¥|
60,029,000
Other cash
4,143,475,000 4,076,410,000 3,751,462,000
Liabilities—
$
1,361,926
2,437,400
767,000
111,619
28,664,400
21,169,000
5,618,013
825,000
838,000
5,307,000
F. R. notes in actual circulation
844,526,000
844,045,000
754,297,000
Deposits—Member bank reserve acc't.. 2,832,928,000 2,752,376,000 2,574,189,000
U. S. Treasurer—General account
43,156,000
37,679,000
30,681,000
Foreign bank..
1
28,181,000
19,839,000
6,150,000
Other deposits
127,035,000
131,990,000
153,063,000
Total deposits.
3,031,300,000 2,941,884,000 2,764,083,000
Brooklyn—
Peoples' National
TRUST
Loans,
Disc,
and
Res.
Cash
N.
Invest.
Deferred availability items
142,810,000
Capital paid in—
Surplus (Section 7)
Surplus (Section 13b)
COMPANIES—AVERAGE FIGURES
Dep.,
Dep. Other
Y. and
Banks and
Gross
Trust Cos.
50,208,000
50,825,000
7,744,000
8,849,000
$
$
$
58,669,900
8,743,843
Federation
Fiduciary
Fulton
Lawyers
$
—
United States
*6,625,400
10,527,800
7,213,000
196,378
1,285,797
11,705,248
20,467,800
28,583,500
71,712,516
*991,985
*4,419,100
637,943
*8,455,300
16,944,538
8,899,000
18,007,614
87,731,000
34,469,150
2,689,000
2,486,220
36,450,000
8,925,389
305,700
32 7" 700
68,644,700
10,887,713
11,026,128
21,013,900
38,468,100
77,140,987
Kings County
ciary,
Ratio
4,143,475,000 4,076,410,000 3,751,462,000
of total reserves
to
deposit and
F. R. note liabilities combined
Commitments
to
make
vances
industrial
85.0%
84.1%
80.4%
9,218.000
9,402,000
9,660,000
ad¬
t "Other cash" does not include Federal Reserve notes
or a
bank's
own
Federal
Reserve bank notes.
Brooklyn
Includes
7,500,000
8,210,000
$
2,446,000
2,586,972
Brooklyn—
♦
7,744,000
8,849,000
7,167,000
109,172,000
50,986,000
49,964,000
7,250,000
Deposits
Elsewhere
Reserve for contingencies
All other liabilities..
Total liabUities.
Manhattan—
Empire
165,718,000
50,178,000
.50,825,000
amount
with
Federal
Reserve
as
follows:
$646,558; Fulton, $4,189,800; Lawyers, $7,645,600.
302,000 119,185,000
Empire,
40,849,993
$5,145,700' Fidu¬
These are certificates 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
x
100 cents to 59.06 cents, these certificates being worth less to the extent of the
difference, the difference itself having been appropriated as profit by the Treasury
under the provisions of the Gold Reserve Act of 1934.
following
issued by the Board of Governors of the Federal Reserve
was
10,
1936
of the Federal Reserve System
Weekly Return of the Board of Governors
The
Oct.
Chronicle
Financial
2318
System on Thursday afternoon, Oct. 8,
banks at the close of business on Wednesday. The first table presents the results
for the System as a whole in comparison with the figures for the eight preceding weeks and "with those of the corresponding
week last year.
The second table shows the resources and liabilities separately for each of the twelve banks.
The Federal
Reserve note statement (third table following) gives details regarding transactions in Federal Reserve notes between the
Reserve Agents and the Federal Reserve banks.
The comments of the Board of Governors of the Federal Reserve System upon the
returns for the latest week appear in our department of "Current Events and Discussions
showing the condition of the twelve Reserve
COMBINED RESOURCES
Three ciphers
AND LIABILITIES OF
Oct. 7,
(000) omitted
CLOSE OF BUSINESS OCT. 7, 1936
THE FEDERAL RESERVE BANKS AT THE
Sept. 30,
Sept. 23,
Sept. 16,
Sept. 9,
1936
1936
1936
Aug. 19,
Aug. 26,
1936
Sept. 2,
1936
/
1936
1936
1936
Oct.
Aug. 12,
1936
9,
1935
"
Other cash *-
Total reserves
8,372,031
8,334,034
267,059
8,386,071
12,102
263,529
12,145
248,066
12,625
268,885
8,664,588
8,661,702
8,632,242
8,615,544
-
8,527,881
12,248
252,246
8,384,683
8,384,679
12,428
261.445
12,850
8,792,375
Redemption fund (Federal Reserve notes)
8,658,556
6.
$
$
$
$
$
$
$
$
$
$
ASSETS
Gold ctfs. on hand and due from U. S. Treas.x
8,255,038
8,225,038
13,720
282,936
13,070
282,433
289,980
6,725,656
19,250
207,251
8,571,038
8,550,541
8,528,738
6,952,157
8,274,032
14,070
"
Bills discounted:
Secured
by
S.
U.
Government obligations,
Total bills discounted
Bills bought In open market-
—
Industrial advances
—
-
United States Government securities—Bonds—
Treasury notes
Treasury bills
—
3,226
3,805
3,952
4,059
3,681
4,561
4,352
4,041
3,638
3,600
3,405
3,072
5,552
2,311
4,150
6,558
9,451
7,031
8,011
8,033
8,602
7,238
6,477
7,863
9,587
3,098
27,142
—
3,426
4,113
7,539
direct and(or) fully guaranteed
Other bills discounted
3,098
28,145
3.098
3,096
28,521
3,095
28,628
3,095
28,522
3,095
28,554
3,094
28,662
3,094
28,782
32,721
378,077
1,443,363
608,787
378,077
1,443,363
608,787
378,077
1,443,363
608,787
324,721
1,496,719
608,787
324,721
1,496,719
324,721
1,496,719
608,787
324,721
1,496,719
608,787
324,721
1,496,719
608,787
1,636,574
2,893
.
28,550
378,077
1,443,363
608,787
608,787
5,437
4,686
238,954
554,681
2,430,227
2,430,227
2,430,227
2,430.227
2,430.227
2,430,227
2,430,227
181
_
2,430,227
2,430,227
Total U. S. Government securities
Other securities
2,430,209
181
181
181
181
_
Foreign loans on gold
2,468,006
2,470.921
2,468,906
2,469,855
2,469,983
2,470,627
2,469,295
2,468,641
2,470,147
2,477,384
""217
""217
"""2I7
""2I9
""2I9
"""226
"""219
""219
""219
"""639
22,640
26,320
26,775
25,346
44,581
21,540
589,851
48,054
43,644
598,183
48,055
44,152
475,590
48,059
38,420
554,757
48,055
45,139
544,120
48,056
39,232
780,969
48,058
37,888
25,093
528,322
48,055
43,586
23,348
622,578
48,060
27,293
578,531
21,864
21,297
592,617
48,060
39,247
11,862,204
11,826,014
12,025,011
11,777,170
11,748.494
11,685,608
11,722,490
11,712,842
10,022,009
11,961,819
4,077,724
4,049,143
4,033,849
4,045,458
4,055,971
4,020,920
3,993,664
3,988,055
3,983,473
3,498,789
6,478,948
195,786
74,395
197,022
6,356,952
252,737
51,950
181,873
6,224,640
388,351
6,205,735
417,924
6,471,333
6,440,622
6,228,518
6,116,084
107,235
215,424
56,762
193,937
211,572
229,285
98,174
238,258
90,126
251,437
338,062
86,438
250,309
5,329,807
60,327
64,862
190,268
54,683
59,235
6.331,502
143,424
6,946,151
6,843,512
6,868,121
6,874,358
6,796,823
6,827.410
6,811,358
6.785,505
6,790,893
588,543
130,178
145,501
27,088
34,242
12,392
620,360
130,162
574,758
756,014
130,185
543,220
552,398
130,163
601,610
130,169
145,501
145,501
145,501
27,088
34,241
12,197
145,501
27,088
34,241
12,293
27,088
34,236
10,326
591,154
130,177
145,501
26,513
34,141
10,990
11.862,204
11,826,014
79.8%
79.5%
22,906
23,307
5,834
Total bills and securities
Gold held abroadDue from foreign banks
Federal Reserve notes of other banks--
Uncollected items
Bank premises.
-
AU other assets
Total assets
LIABILITIES
Federal Reserve notes in actual circulation
Deposits—Member banks'
reserve account
United States Treasurer—General account-
Foreign banks
Other deposits
Total deposits
Deferred availability Items
Capital paid in
Surplus (Section 7)
Surplus (Section 13-B)
Reserve for contingencies
All other liabilities
Total liabilities
11,961,819
Ratio of total reserves to deposits and Federal
Reserve note liabilities combined
Commitments to make Industrial advances
/
'
50,267
50,121
44,254
'
14,826
298,059
5,703,019
475,791
34,236
145,501
27,088
34,236
44,159
10,778
532,971
130,170
145,501
27,088
34,235
10,621
12,025,011
11,777,170
11,748.494
11,685,608
11.722,490
11,712,842
10,022,009
79.5%
79.3%
79.5%
79.4%
79.3%
79.4%
79.2%
75.6%
23,397
23,543
23,721
23,699
t23,355
23,271
23,394
26,859
6,324
4,534
6,097
7,617
130,163
27,088
130,172
27,088
34,240
12,167
145,501
.
130,518
144,893
23,457
30,694
14,848
Maturity Distribution of Bills and
Short-term Securities—
7,628
5,264
6,718
7,108
5,320
16-30 days bills discounted
114
158
91
157
379
803
600
34
51
76
163
233
234
381
463
873
576
601
748
31-60 days bills discounted
1,094
587
642
141
256
205
849
624
654
163
9,587
1-15 days bills discounted
61-90 days bills discounted
845
865
Over 90 days bills discounted
233
243
1,100
Ulilo
UlovOUutuU.■>«««*«.
Q
7,539
yf£oi
7,238
—6,477
7,863
481
1,645
1,623
1,598
122
978
880
768
616
341
716
67
473
427
1,616
1,598
122
717
233
2,789
68
477
495
283
236
845
O
XUtttl
593
239
338
339
433
210
«,
1-15 days bills bought in open market
16-30 days bills bought In open market
31-60 days bills bought in open market
61-90 days bills bought in open market
#
O
All
,UoJL
OQQ
«02
282
198
784
726
1,703
602
274
1,002
880
24
1,809
1,857
436
1,758
3,098
3,098
3,096
3,095
3,095
3,095
3,094
3,094
4,686
3,098
1,590
1,592
1,524
1,539
1,493
1,472
1,395
1,794
320
Over 90 days bills bought In open market
Total bills bought in open market
1-15 days industrial advances
1,561
1,615
16-30 days industrial advances..
448
312
397
398
459
352
297
294
294
31-60 days Industrial advances..
61-90 days Industrial advances.
522
551
567
612
682
709
750
684
674
762
737
696
767
711
799
876
688
1,019
23,592
812
24,855
25,234
25,182
25,267
25,155
25,303
25,413
25,543
29,388
27,142
28,145
28,550
28,521
28,628
28,522
28,554
28,662
28,782
32,721
41,439
85,786
44,489
37,930
36,956
34,445
85,786
79,282
72,006
81,016
87,452
66,816
2,165,169
_
Over 90 days industrial advances
Total industrial advances
531
65,816
200,919
71,480
184,628
42,093
34,793
71,006
189,340
88.216
81,016
48,443
70,804
76,383
2,098,541
2,098,412
2.092.995
2,083,044
2,140,256
2,153,581
2,155,223
2,147,987
31,956
37,930
130,275
85,659
2,144,407
2,430,227
2,430,227
2,430,227
2,430,227
2,430,227
2,430,227
2,430,227
2,430,227
2,430,227
2,430,209
181
""181
181
""181
181
181
1-15 days U. S. Government securities
181
181
181
181
4,302,908
4,297,480
309,425
4,292,938
309,244
309,465
3,792,283
293,494
31-60 days U. S. Government securities
61-90 days U. S. Government securities
39,009
38,559
40,187
84,287
168,653
16-30 days U. S. Government securities
Over 90 days U. S. Government securities——
Total U. S. Government securities
31,795
0
76,383
39,009
28,925
55,310
146,360
1-15'days other securities
31-60 days other securities
61-90 days other securities
Over 90 days other securities
Total other securities
,
Federal Reserve Notes—
In actual circulation
Collateral Held by
4,346,943
297,800
4,346,600
312,751
4,349,616
304,158
4,342,679
286,708
4,299,473
278,553
4,049,143
4,033,849
4,045,458
4,055,971
4,020,920
3,993,664
3,988,055
3,983,473
3,498,789
4,348,838
5,882
93,000
4,337,838
4,328,838
6,130
4,306,338
4,306,338
4,301,338
4,299,338
3,658,018
6,922
73,000
5,777
73,000
5,038
73,000
6,507
73,000
73,000
8,131
160,900
4,447,720
Held.by Federal Reserve Bank
4,368,693
290,969
4,077,724
Issued to Federal Reserve Bank by F. R. Agent
4,407,968
4,386,260
4,385,115
4,379,376
4,378,845
3,827,049
>.
Agent as Security for
► 'Notes Issued to Bank—
Gold ctfs.
on
hand and due from U. S. Treas..
By eligible paper
United States Government securities
4,327,838
4,325,838
5,306
5,444
88,000
88,000
6,411
83,000
4,431,144
4,421,282
k
Total collateral
*
x
"Other cash" does not Include Federal
These
are
certificates given by the
oents on Jan. 31,
Reserve notes,
»
4,415,249
t Revised figure.
United States Treasury for the gold taken over from
1934, these certificates being worth less to the extent of the difference,
the provisions of the Gold Reserve Act of 1934.
devalued from 100 cents to 59.06
appropriated as profits by the Treasury under
the Reserve banks when the dollar was
the difference Itself having been
_
1
Volume
143
Federal Reserve System (
Weekly Return of the Board of Governors of the
WEEKLY STATEMENT OF RESOURCES AND
Three Ciphers (000) Omitted
Federal Reserve Bank, of—
certificates
on
band
and
Cleveland Richmond
Phila.
New York
S
$
$
$
$
RESOURCES
Gold
LIABILITIES OF EACH OF THE 12 FEDERAL RESERVE BANKS AT
Boston
Total
2319
Chronicle
Financial
•
$
Atlanta
$
S
$
due
630,516
298,818
33,786
538
23,538
13,989
8,792,375
Total reserves
541,072 3,231,886
886
1,788
60,029
31,633
491,643
252,246
from United States Treasury
Redemption fund—Fed. Res. notes._
Other cash *
574,493 3,292,801
525,989
654,592
313,489
8,527,881
12,248
560 W
682
$
S
$
$
San Fran.
Dallas
Louis Minneap. Kan. City
St.
Chicago
)
CLOSE OF BUSINESS OCT. 7, 1936
598
736
853
822
300
29,296
8,178
6,106
13,323
7,597
590,904
1,801
15,060
252,052 1,705,664
275,125
167,778
258,915
163,712
607,765
130
239,657 1,675,770
2,684
9,711
266,211
160,819
155,815
244,770
Bills discounted:
Secured by U. S. Govt, obligations,
direct and (or) fully guaranteed..
3,426
590
2,178
170
180
92
30
Other bills discounted
4,113
31
3,509
42
38
93
34
20
20
10
85
171
39
10
105
191
169
16
13
48
7,539
621
5,687
212
218
185
64
48
29
3,098
27,142
Total bills discounted
Bills bought in open market
Industrial advances
226
1,103
318
295
121
108
387
87
61
87
87
218
3,450
6,343
5,029
1,396
2,967
543
1,637
515
1,163
876
1,493
1,730
27,100
103,454
43,636
100,381
32,513
38,235
44,172
14,111
15,656
124,124
145,967
58,910
61,567
168,634
71,127
*33,355
127,334
52,353
19,526
74,543
31,441
15,431
383,224
161,638
U. S. Government securities:
378,077
Bonds
1,443,363
Treasury notes
608,787
Treasury bills
29,011
53,873
22,723
19,581
74,747
31,527
25,210
53,707
125,855
100,637
214,396
216,513
18,016
68,782
59,771
2,430,227
174,190
645,243
208,990
245,769
125,510
99,188
283,933
115,809
90,707
2,468,006
.178,487
658,376
214,549
247.678
128,783
99,903
286,005
116,440
91,941
126,923
102,408
217
Total U. S. Govt, securities
Total bibs and securities
16
83
21
20
9
8
26
4
3
6
6
15
4,296
147,380
643
1,453
56,274
2,410
1,459
2,437
1,646
1,343
1,743
463
46,078
52,412
"21,725
76,468
26,970
17,263
31,970
23,033
3,086
33,594
3,580
Due from foreign banks
r
21,297
318
592,617
59,450
48,060
39,247
3,113
10,856
5,079
6,525
2,919
2,284
4,833
2,453
1,531
3,361
1,526
408
29,683
3,121
1,656
1,073
1,362
491
195
309
319
259
371
resources
resources-
11,961,819
816,285 4,143,475
795,480
968,198
501,095
378,793 2,075,924
422,833
280,168
423,237
291,407
864,924
Fed. Res. notes of other banks
Uncollected items
Bank premises
All other
Total
24,847
*
LIABILITIES
4,077,724
359,632
844,526
294,710
394,003
196,225
187,469
917,344
177,973
130,613
154,807
90,238
330,184
6,478,948
F. R. notes In actual circulation
340,756 2,832,928
21,978
43,156
405,454
427,266
28,132
6,695
210,470
148,084 1,001,298
27,355
4,009
8,442
2,547
176,587
19,355
2,183
113,745
219,390
4,839
153,195
8,403
449,775
3,345
1,747
2,111
2,111
996
8,124
3,967
322
1,357
6,509
5,022
15,448
Deposits:
Member bank
reserve
account
U. 8. Treasurer—General account.
Foreign bank
Total deposits
5,300
59,279
588,543
130,178
Capital paid in
Surplus (Section 7)
Surplus (Section 13-B)
9,401
27,088
9,902
2,874
34,242
1,513
145,501
Reserve for contingencies
All other liabilities
264
12,392
Total liabilities
142,810
50,208
50,825
7,744
8,849
7,213
20,697
25,832
3,202
4,134
487,925
238,503
157,005 1,038,091
206,249
122,804
226,662
165,066
476,754
20,920
76,737
28,414
32,050
4,245
5,616
12,170
3,757
4,655
25,041
3,821
21,350
754
1,391
546
17,487
2,947
3,149
1,003
2,563
7,573
895
1,435
840
34,239
10,185
9,645
1,696
1,849
221
1,268
344
730
168
878
372
378,793 2,075,924
422,833
280,168
423,237
291,407
864,924
49
1,495
76
381
504
4,36b
4,231
1,007
3,000
3,111
51,575
4,722
5,186
3,448
1,286
384
54,843
12,213
13,406
12,554
14,371
400
795,480
968,198
501,095
9,218
289
1,387
2,339
3,955
3,783
1,252
1,328
3,613
1,142
Industrial
2,502
22,906
...
"Other cash" does not include Federal
Reserve
305
notes.
STATEMENT
FEDERAL RESERVE NOTE
Three
2,365
150
45,148
816,285 4,143,475
11,961,819
make
to
advances.....
5,386
6,946,151
Deferred availability Items
-*
422,372
74,395
197,022
Other deposits
Commitments
28,181
127,035
8,008
6,768
2,142
373,420 3,031,300
195,786
Ciphers (000) Omitted
Federal Reserve Agent at—
Total
Boston
New York
$
S
$
S
S
Atlanta
$
$
$
$
$
$
San Fran.
Dallas
Louis Minneap. Kan. City
St.
Chicago
$
Cleveland Richmond
Phlla.
$
/
Federal Reserve notes:
310,514
15,804
208,349
189,359
28,653
11,386
134,895
4,282
165,838
12,124
206,657
19,188
945,997
24,011
11,031
99,659
9,421
374,590
44,406
359,632
844,526
294,710
394,003
196,225
187,469
917,344
177,973
130,613
154,807
90,238
330,184
4,348,838
396,00(1
424,000
210,000
166,000
966,000
161,632
590
945,706
4,294
314,000
5,882
In actual circulation
937,957
93,431
418,014
17,232
4,077,724
Issued to F. R. Bank by F. R. Agent
Held by Federal Reserve Bank
174
180
167
4,368,693
290,969
•
376,864
Collateral held by Agent as security
for notes issued to banks:
Gold certificates
on
hand and
due
from United States Treasury
Eligible
paper
U. S. Government securities
Total collateral
4,447,720
396,590
950,000
314,174
424,180
210,167
121,000
165,000
100,500
379,000
49
17
92
179
140
45,000
93,000
30,000
i's'ooo
3,000
191,649
136,000
168,092
100,679
379,140
211,049
966,000
Weekly Return for the Member Banks of the Federal Reserve System
Following is the weekly statement issued by the Board of Governors of the Federal Reserve System, giving the principal
items of the resources and liabilities of the reporting member banks in 101 leading cities from which weekly returns are obtained.
-These figures are always a week behind those for the Reserve banks themselves.—The comment of the Board of Governors of
the Federal Reserve System upon the figures for the latest week appears in our department of " Current Events and Discussions,"
immediately preceding which we also give the figures of New York and Chicago reporting member banks for a week later.
i935,
reporting banks in 101 leading cities, as it did prior to the banking holiday in 1933, lnsteav. of 91 cities, and has
The amount of "Loans to banks" was included heretofore partly in "Loans on securities—to others" and partly
The statement beginning with Nov. 6,
covers
also been revised farther so as to show additional items.
in "Other loans." The item "Demand deposits—adjusted" represents the total amount of demand
deposits standing to the credit of Individuals, partnerships,
corporations,
associations, States, counties, municipalities, &c., minus the amount of cash items reported as on 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 provisions of the Banking Act of 1935:
First, it includes United States Government
deposits, against which reserves must now be carried, while previously these deposits required no reserves, and, second, amounts due from banks are now deducted from
gross demand deposits, rather than solely from amounts due to banks, as was required under the old law.
These changes make the figures of "Net demand deposits" not
comparable with those shown prior to Aug. 23,1935.
The item "Time deposits" differs in that it formerly included a relatively small amount of time deposits of other banks,
which are now included in "Inter-bank deposits."
The item "Due to banks" shown heretofore included only demand balances of domestic banks.
The item "Borrowings"
other sources.
Figures are shown also for "Capital account," "Other
By "Other assets—net" is meant the aggregate of all assets not otherwise specified, less cash items reported as on hand or in process
represents funds received, on bills payable and rediscounts, from the Federal Reserve banks and from
assets—net," and "Other liabilities."
of collection which have been deducted from demand deposits.
1
ON SEPT. 30 1936 (In Millions of Dollars)
ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN 101 LEADING CITIES, BY DISTRICTS,
Atlanta
St.
Chicago
$
Cleveland Richmond
$
Federal Reserve District—
Total
Boston
New York
Phila.
ASSETS
%
$
S
$
$
1,236
9,699
1,188
1,825
647
572
3,064
3
5
50
67
Loans and investments—total
22,682
$
'
$
%
$
670
$
$
490
2,193
3
3
12
47
42
688
410
5
.
San Fran.
Dallas
Louis Minneap. Kan. City
1
Loans to brokers and dealers:
on
City
securities to others
941
9
78
23
11
152
214
(except
Other loans
U. S. Government direct obligations..
148
53
201
71
31
124
23
5
6
5
32
8
10
82
241
62
182
25
24
70
43
6
3
82
2
4
1
1
8
7
3,949
Loans to banks
853
46
112
on real estate
311
1,139
banks)
Acceptances and com'l paper bought.
Loans
12
28
3
2
5
972
222
2,048
In New York
Outside New York City
Loans
311
1,526
186
214
109
150
523
133
4,025
323
873
300
212
1,608
234
169
26
1
25
18
.
23
363
3
......
1
122
142
151
382
178
262
185
715
9,336
1,256
421
18
505
100
61
61
40
148
59
15
50
37
162
Other securities
3,337
163
1,324
312
261
75
82
419
•110
47
135
48
361
Reserve with Federal Reserve Bank-
5,023
225
2,449
269
311
135
85
855
116
96
282
Obligations fully
guar,
by U. S. Govt.
Balance with domestic banks
Other assets—net
141
59
1
378
...
123
66
14
33
17
10
60
11
5
11
9
19
2,363
Cash in vault
111
171
165
260
152
133
483
112
81
272
173
250
1,341
75
572
89
110
38
40
105
24
17
24
28
219
15,116
980
1,046
402
305
2,377
390
261
481
361
869
287
6,835
1,003
809
5,063
276
711
198
177
820
179
122
147
120
1,023
847
13
233
76
78
44
53
151
12
3
24
43
117
5,919
225
2,496
313
353
222
210
833
259
125
393
190
300
LIABILITIES
Demand
deposits—adjusted
Time deposits
United States Government deposits..
i
Inter-bank deposits:
Domestic banks
Foreign banks.
Other liabilities
Capital account
9
484
4
450
......
1
......
1
......
6
__
1
......
12
......
*
Borrowings.
......
„
......
-
......
.
.
.
—
.
......
—
-
.
.
-
...
.
848
23
379
22
13
33
8
29
9
4
2
5
321
3,510
233
1,561
225
337
90
86
351
84
56
89
77
321
Oct.
2320
10, 1936
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.
of such sales In computing the range for the
year.
United
States
Government
York Stock
Below
furnish
we
a
Securities
and
Transactions
Mortgage Corporation's
Treasury certificates on the New York
Stock
Exchange.
Quotations after decimal point represent one or more 32ds
of
point.
a
Daily Record of U. S. Bond Prices
.
_.|LOW.
4J4s. 1047-52...
119.2
[Close
118.30
118.30
119
118.30
119
109
119.1
Oct. 9
119
109
119.1
119.2
Oct. 8
109.2
119.2
119.2
Oct. 7
Oct. 6
Oct. 5
Oct 3
Oct. 3
(High
Treasury
at
the New York Stock Exchange,
Daily, Weekly and Yearly
daily record of the transactions in
Home Owners' Loan, Federal Farm
bonds
the New
on
Exchange
No account Is taken
Number of
Oct. 9 1936
Shares
Untied
Miscell. Municipal &
and
$333,000
428,000
2,335,490
$784,000
1,001,000
1,447,000
1,490,000
1,311,000
1,374,000
505,000
515,000
387,000
348,000
$11,287,000
15,000,000
16,881,000
20,710,000
16,176,000
19,142,000
13,561,900
$89,273,000
$7,407,000
$2,516,000
$99,196,000
1,632,260
2,082,180
2,257,990
3,027,400
2,226,580
118.30
118.30
Sales
118.30
2
6
47
4
1
(High
108.17
108.19
108.16
108.13
108.12
108.13
Low.
108.17
10S.15
108.15
10S.12
108.12
108.13
OlOSG
Total sales in $1,000 units...
108.17
108.17
108.15
108.12
108.12
Jan. 1 to Oct. 9
Week Ended Oct. 9
at
New York Stock
2
108.13
3^s. 1943-45
•
,
27
7
-
5
17
9
14
114.5
114.6
114.4
114.6
114.6
Low.
114.4
114.5
114.4
114.4
114.4
(Close
114.5
114.6
114.4
114.6
7
Total sales in 51,000 units...
1
5
112.13
(High
Low.
112.12
(Close
3%s, 1940-56
112.12
Total sales in 51,000 units...
-
_
_
-
-
13
20
109.4
109.8
109.6
109.2
109.3
109.6
109.2
109.4
25
101
1
104.31
105.2
105.4
104.31
105.2
105
105.1
105.1
104.30
105.2
105.2
104.31
104.31
14
6
18
6
2
12
106.5
106.2
106.4
106.4
106.3
106.1
106.2
106.4
are
106.5
106.3
106.1
106.2
106.4
108.5
108.6
108.2
108.3
108.2
108
108.3
108.4
108.2
108.3
3
10
4
3
108.31
108.30
109
108.31
108.30
109.1
109
108.31
3
11
1
-
-
-
-
-
-
(Swh
108.30
-
2
10
First
Second
10
70
Indus¬
Grade
Grade
Utili¬
40
roads
ties
Stocks
trials
Rails
Rails
ties
Bonds
107.2
107.1
106.30
107.2
107.1
107.2
107.1
106.30
106.31
107.3
107.2
106.30
9.
175.19
59.03
35.20
64.71
107.30
112.45
95.53
106.79
8-
174.93
58.75
35.32
64.61
107.25
112.50
95.40
106.76
105.48
Oct.
7.
174.59
58.41
35.16
64.39
107.20
112.45
95.28
106.78
105.43
Oct.
6-
174.42
58.54
34.45
64.19
107.34
112.43
95.34
106.79
Oct.
107.1
172.81
58.20
34.53
63.77
107.00
112.46
95.21
106.70
105.34
3.
172.44
57.85
34.81
63.67
107.04
112.46
95.31
106.78
105.40
8
1
9
9
17
7
United States Treasury
Rates
....
109"""
io"9~.r
108.30
109
109
109~. l"
109.1
109
109.1
...jSw*
I Close
109.i'
109
Total sales in $1,000
units...
quoted
109.1
1
8
Bid
4
108.14
108.12
108.11
108.8
Low.
108.13
108.12
108.11
108.6
(Close
108.14
108.12
108.11
108.8
5
1
6
7
2
9
102.28
102.26
102.27
102.26
Nov. 10 1936
103
103
Low*
102.29
102.28
102.25
Close
102.31
103
108.7
108.11
108.7
Oct.
14 1936
Oct.
21 1936
Oct.
28 1936
23 1930
0.15%
0 1937
102.23
Jan.
13 1937
Jan. 20 1937
1937
0.15%
0.15%
0.15%
0.15%
3 1937
0.15%
June 23 1937-
102.23
102.23
Nov. 18 1930
102.25
102.24
102.23
Nov. 25 1936
63
92
146
28
2 1936
Dec.
104.20
104.20
104.16
104.15
104.15
104.14
Dec
104.20
104.17
104.16
104.11
104.12
104.10
Dec.
16 1930
'close
104.20
104.19
104.16
104.15
104.15
104.14
Dec.
7
38
13
102.25
102.25
102.22
102.23
102.27
102.25
102.23
102.22
Close
.
26
Sw*
2%a, 1948-51
115
102.27
102.27
102.25
102.25
102.22
1
.
9 1936
Mar. 10 1937Mar. 17
1937-
0.16%
Mar. 24
1937-
Mar. 31
1937-
7
1937-
0.16%
0.16%
0.14%
0.14%
0.14%
0.14%
0.17%
0.17%
0.17%
0.17%
0.^0%
0.20%
0.20%
Apr.
Apr.
14 1937-
Apr.
21
Apr.
28 1937-
1937-
5 1937May
May 12 1937May 19 1937-
.fune
9
1937-
11
1
7
1
9
101.30
101.31
101.24
101.23
101.25
101.25
Low-
101.28
101.28
101.24
101.23
101.22
101.22
Feb. 10 1937
0.15%
June 30 1937.
(.Close
101.30
101.28
101.24
101.23
101.24
101.23
Feb. 17 1937
0.15%
July
26
Feb. 24 1937
0.15%
units..
2Hs, 1951-54
.
.
Total sales in $1,000
units...
5
18
36
13
5
101.8
jSw*
2Hs, 1956-1959
101.10
101.9
101.7
101.6
101.8
101.7
101.4
101.4
101.9
101.8
101.4
[Close
101.8
(High
104.27
104.26
I Low.
104.27
104.27
units...
1
,
nal sales <n $1,000
.
Federal Farm
Mortgage
104.26
104.24
104.26
104.24
1
3
1
-
-
-
-
103.26
103.25
103.27
103.26
103.25
103.25
103.24
(Close
103.26
103.25
103.24
Quotations for United States Treasury Certificates of
Indebtedness, &c.—Friday, Oct. 9
Figures after decimal point represent one or more 32ds
uniLr—
in $1,000
F®r.e,raI Farm Mortgage
2Hs, 1942-47
.
56
3
-
-
--
21
2
-
»
-
104.10
104.8
104.7
104.5
104.4
104.8
104.7
104.4
104.4
104.8
104.7
104.4
104.4
104.5
1
11
2
102.27
49
102.26
102.25
Low.
102.27
102.26
102.25
IClose
102.27
102.26
102.25
2
10
1
45
Dec.
15 1939...
-
«
-
-
-
-
-
-
June 15 1941
102.22
Mar. 15 1939.
102.22
Mar. 15 1941.
12
June
15 1940
103.20
103.20
103.17
103.16
103.16
103.13
Dec.
Low.
i
,
___
15 1940
High
_
Rate
Maturity
102.23
1
3s, series A. 1944-52
103.18
103.17
103.16
103.14
103.13
103.13
Mar. 15 1940
June 15 1939
Close
Total sales in $1,000 units...
Home Owners' Loan
Int.
Int.
104.5
104.10
-
104.6
104.10
(High
■
Total sales in $1,000
units.
Home Owners' Loan
103.18
103.20
103.16
103.16
103.13
103.13
29
6
66
116
34
.
-
.
Bid
Asked
Maturity
Rate
103.28
103.3
103.5
101.12
101.14
104.10
104.12
101.17
101.19
101.31
103.28
103.30
103.7
103.9
1H%
100.26
100.28
Feb.
1 1938...
1^%
134%
134%
1H%
101.19
101.21
Dec.
15 1936...
101.8
101.10
June
15 1938
101.14
101.16
Feb.
15 1937...
101.10
101.12
Apr.
15 1937...
1H%
101.26
101.28
Mar. 15 1938...
3%
3%
3%
2H%
103.9
103.11
Sept. 15 1937...
334%
Sept.15 1938...
101.31
101.30
101.29
101.27
101.27
101.26
101.29
101.28
101.27
101.25
101.25
101.24
(.Close
101.30
101.30
101.28
101.27
101.26
101.24
units...
(High
19
24
101.29
.
_
,
Total sales in $1,000
Home Owners* Loan
2J4s, 1942-44.
| Low.
I close
Total sales in $l,Q0Q units...
15
144
37
101.27
101.25
FOOTNOTES
99
101.26
^
*
101.26
101.25
101.25
101.23
101.29
101.26
101.27
101.25
101.23
36
50
27
3
;
•
table
includes
only sales
Transactions in registered bonds were:
1
Treas.
2
Treas. 2Hs, 1955-60
3Ha, 1944-46
1-Treas. 2%s, 1945-47.
NEW YORK
Bid and asked prices; no sales on this
12
101.28
t Companies reported In receivership
a
Note—The*above
FOR
101.25
of
coupon
n
r
108.6
to 108.6
Deferred delivery
New stock.
Cash sale.
x
Ex-dividend.
v
Ex-rlghts.
102.21 to 102.23
104.8
to 104.8
I
day
Asked
103.26
i%%
101.11
Bid
234%
2H%
2H%
2H%
101.9
14
[High
2^8. series B, 1939-49.. Low.
bpnds.
of
103.25
■
,
0.20%
0.20%
0.20%
1937-
103.23
_
m
7
15
104.24
104.26
.
45
21
16
(High
Total sales in $1,000
units.
Federal Farm
Mortgage (High
3s, 1942-47
Low.
Total sales
June 16 1937-
101.4
101.6
104.26
104.26
44
31
—.Low.
3s. 1944-49.
Feb.
101.4
[Close
™
Jan. 27
101.6
101.8
Total sales in S1,000
units..
Federal Farm
Mortgage
334s, 1944-64
Asked
0.16%
0.16%
May 26 19372 1937.
June
102.23
102.24
102.26
J?ow*
m
1937.
Jan.
4 1930
Nov.
24
Total sales in
$1,000 units.
3
Dec. 30 1936
108.8
38
units.
Mar.
0.14%
0.14%
0.14%
0.14%
0.14%
0.14%
0,14%
0.15%
0.15%
0.15%
0.15%
108.11
108.7
Bid
Asked
1
27
Total sales in $1,000
units.._
Bills—Friday, Oct. 9
for discount at purchase.
are
109.1
109.1
109~2~
-
105.48
5.
Oct.
[Close
.
105.52
107.2
107.2
Total sales in $1,000 units...
3^8, 1944—46.
Total
Oct.
Sw?
,
Total
Oct.
107.5
107.2
$1,000 units...
•
20
Utili¬
1
109
-
10
20
Rail¬
trials
109.1
[Close
.
10
30
108.2
Close
s
Exchange
Indus¬
Date
108.2
107.2
m
of representative
Bonds
Stocks
108.2
108.4
Total sales in $1,000 units...
Total sales in $1,00
averages
the New York Stock
compiled by Dow, Jones & Co.:
as
109.1
™
on
4
108.3
jSw*
2Ms. 1945-47.........
daily closing
stocks and bonds listed
.r?
Total sales in $1,000 units...
TotaUaZesinjl.OOO
$2,549,964,000
106.3
2
9
20
57
25
Low.
2Hs. 1955-60
52,716,892,000
the
106.2
(High
3Hs, 1941
$53,687,000
106.3
106.5
I Close
,
$604,720,000
297,103,000
1,648,141,000
16
106.5
_
rr,
$235,346,000
251,861,000
2,229,685,000
2
[Close
3Hs. 1949-52
6,460,00
36,215,000
Stock and Bond Averages
105
105.2
Total sales in $1,000 units I..
Total sales in
$11,012,000
$99,196,000
Total
Below
105.1
105
104.31
Low
•
3Hs. 1946-49
$2,516,000
7,497,000
89,273,000
Bonds
109.3
(High
,
246,071,041
109.3
109.8
Total sales in $1,000 units...
m
369,574,288
Government
109~3"
Low.
■} Low.
(Close
3 Ha, 1941-43
7,626,202
112.13
....
109.2"
(High
3 Ha, 1940-43.
13,561,900
112.13
Jm
109~.7~
Total sales in $1,000 units...
3s. 1946-48
1935
1936
1935
112.13
-
Close
•
3s, 1951-55
Stocks—No. of shares.
State and foreign
Railroad and industrial
109.8
(High
3Hs, 1943-47
1936
Exchange
114.6
(High
4s, 1944-54
„
Sales
$10,170,000
13,571,000
14,929,000
18,705,000
14,478,000
17,420,000
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
TotalL
Total sales in 51,000 units...
_
Bond
Bonds
For'n Bonds
Bonds
Total
States
State,
Railroad
Stocks,
Week Ended
STOCK PAGES
102.1
Proctor
Abbott,
Members New York Stock
&
Paine
Exchange and other leading exchanges
Commission orders executed in
Stocks, Bonds, Commodities for institutions and individuals
newyork
.
Volume
LOW
chicago
•
montreal
•
toronto
.
SALE PRICES—PER
SHARE,
Sales
NOT PER CENT
indianapolis
•
Wednesday
Thursday
the
Friday
Oct. 3
Oct. 5
Oct. 6
Oct. 7
Oct. 8
Oct. 9
YORK
$ per share
S per share
*61
62
$ per share
*60
62
$ per share
Shares
6378
14i4
62
62
*57%
62
111% 111% *111% 111% *111% 111% *111% 111% *111% 111%
63
63
6384
65%
6434
62%
63%
65%
66%
66%
14%
1484
1434
14%
14%
14%
14%
14%
14%
1434
26
26
28
26%
25%
26%
27%
29%
2478 26%
32
3234
3284
3234
32% 32%
32%
32%
3134
3238
2%
2%
-2%
2% ■£> 2%
238
*2%
2%
2%
238
*2l4
24%
3278
238
7514
7534
7534
35s
3%
3%
3178
*99
102
17
*174
*99
17%
182
16%
7534
76%
76%
3%
*99%
334
31-
76
334
102
16%
17
*174
*174
"1634
185
16
4%
46%
46%
47%
47%
49%
48
4612
«
47
46
47%
47%
49
4834
46
46
47%
48
48%
44%
39%
48
"46
4238
,
43
39
39%
*107iS 109
230i2 231 ®4
2784
1278
13%
27%
1284
82
82
82
2714
6034
61%
2434
25
214
*5714
6134
61%
*25
2%
58%
104
102
62%
2%
57
232
235%
28
2734
12%
82%
13%
82%
I 62
62%
25%
2%
2538
2%
57
56%
103
103
64
66
106%
66%
4534
4434
71%
*69%
62%
62%
43
45%
43%
71%
*69%
*69l2
62
6212 62%
133%
*12934 133% 133% 133%
123%
123% 122% 124
I22l2
*162%
166l2 166% *162% 168
51%
5134
52%
51% 52%
89l4
89%
89% *89%
89%
62
62
63
62
62%
*12514 12584 *125% 12534 *125%
104
*103
104% 103% 103%
*28
34
11%
28i4
28
*9934
4%
13i2
*156
34
12
1134
2734
27%
99%
4%
28%
2834
9978
4%
13%
300
65
25%
27%
27%
2834
55,200
7,600
2%
5634
2%
2%
55%
2%
2%
8,700
2%
57
56
104
100
68
45
43%
69%
4434
70%
62%
69%
69%
62
62
134
134
134
124%
12384 124%
16784
52%
167
167
52%
28
2734
11
Tl%
27
28
27%
29
4%
438
484
*143
147
107
107
60
60
*133
144
44%
129
129
26
26
55
55
*135% 141%
24% 24%
175% 17734
98% 98%
100% 101
144
27
40%
77%
19%
*10684 108%
12
3%
338
40%
40%
120
120
108
108
5%
6
8038
81
*105% 115%
54% 5434
14
14%
168
51%
89%
1034
27
2734
*99%
4%
*166
1,900
12,300
American
102
*17%
18
22%
21%
22
81
82%
6934
1234
38%
3734
101% 101%
22
23%
23%
31%
23%
158
32
2%
18
11%
41%
64%
80
23%
158
31%
734
47%
28%
9934
6,300
110
6% 1st pref..
4%
10,200
Amer Encaustic
100
Tiling New.l
1334
100
Amer European
Sees..No par
300
46
47%
19,100
1834
7,000
2d
38%
9,100
S6
19
4,200
Amer Hawaiian S S Co
534
5,600
Amer Hide & Leather
36%
1,100
4734
2%
18%
47%
2%
48
2,100
Amer Home Products
1,500
American Ice
11%
*18%
18%
1,000
13
13%
38%
22,700
25,000
38%
600
*98% 102%
2334
11
16,900
24%
7,900
11%
42
43
44
130
*125
130
64%
17,300
200
*64%
68%
100
13%
82%
42,100
71%
23
23%
158% 158%
4,700
12%
82
71
23%
158
32%
37%
31%
37%
22%
4,400
81,800
190
32% 111,500
3,000
38%
4,800
23%
2,080
39%
38
37%
37%
37%
*36%
23
25
2334
2484
2434
2434
38
35%
35%
35%
3734
36%
35%
88 '
88%
88%
87%
89%
88%
8684
85%
8534
84%
144
146
*144% 145
146
145% X144
145% 145% *143
106
*106
109
107
107
*105% 109
*106% 107% 106
61
61
60
61%
61%
60%
60%
60%
60%
144
144
*140
144
*140
*133
*133
144
*133
144%
44
44
45
4434
44%
44% 4434
44%
44%
44%
129
129
*12734 128% *12734 128% 12734 12734
*12734 129
26
25%
25%
25%
26%
25%
25% 2534
26
25%
56
55
56%
56%
56%
56%
56%
55%
56%
5534
140
140
140
140
*135
140% 140%
14033
*134% 140%
24
24
24
23%
24%
23%
24%
23%
24%
24%
177
17734 178% 177% 17834 178% 179%
176% 177%
177%
*98
98%
98%
9834
98%
98%
98%
98%
98% 99
100% 100%
142
14%
142
100%
143
143
15
15%
15%
*51
2634
40%
*75%
18%
60
*51
27
28%
41%
40%
76%
7734
19%
1834
10634 10634 *106%
12
*11
11%
3%
*3%
334
4034
*39%
40%
120
120
*118%
108%
108% 108%
6
584
534
79%
*79% 81
*105% 115% *105%
55
56%
56%
14%
14
14%
2320
For footnotes see page
i
100%
*140
15
101
145
15%
100% 101
*142
15%
145
15%
38,700
300
600
1,700
15",800
40
3,700
2,500
400
2,100
14,700
2,900
7,600
100% 101
145
*143
15
300
25,600
15%
97,700
2684
27%
26%
27%
106
106
*105% 107
*105% 106%
8
8%
8%
8%
8%
8%
57
57
57%
57%
57%
5884
1
1
1%
1%
1%
1%
8
8%
7%
8%
7°8
7%
25%
4%
26%
4%
4
4
4
100
8,100
7,400
6%
6%
conv
No par
pref
non-cum
pref
100
6% conv preferred
100
Amer News, N Y Corp-No par
Amer Power <fc Light.-No par
$6
No par
preferred
$5 preferred
No par
Am Rad & Stand San'y-No par
Amer Safety
75
49
5% Jan
Apr 20
6884 Sept
125% Mar
6934 Oct
65% Apr
Jan
6
July 17
July
7
Jan
3
40
Apr 28
May 2
11584 Feb 24
162%May 29
30
Apr 30
67% Apr 27
preferred 6% cum—100
25
Preferred
—100
Amer Steel 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 & Eleo.No par
1st preferred
No par
American Woolen--.—No par
Preferred
100
2d
American Snuff
23,300
JAm Writing Paper
25,500
No par
Amer Zinc Lead & Smelt—1
Preferred
25
530
4%
1
Preferred
July
3
984 Jan
175
Oct
2
2
6% Apr 30
2984 Jan 2
12
Apr 30
25
Apr 30
Jan 20
5% July
7
Jan
2
2% Sept
16% Sept
9% Apr
23% Apr
66
Apr
24
24
30
28
28
37
21
May
9
10
Apr 28
Apr 30
Apr 2
z35% Jan 3
7% Feb 20
Feb 20
Jan
57% Mar
133% Jan
20% Apr 30
IO784 Jan 4
1
48% Apr 30
Jan
6
20% Mar 21
149% Apr 30
87
Mar 13
88% Mar 13
136
Jan
2
8% June 30
20 May 13
19% Apr 28
92>4 Jan 3
7% Sept 25
5234 Sept 25
34May 19
4% Apr 30
3% July 3
2
28%
41%
76%
I884
*27%
40%
30
41%
*27%
30
*27%
40%
28% """360
41% 131,700
25
24
May 18
Anaconda Copper Mining-.50
28
Jan 20
1,500
Anaconda W & Cable.. No par
35
Jan
4
40
*11%
12%
4
4%
40%
40%
120
*118% 120
108% 108% 108%
584
5%
5%
80
80
81
*11
12%
*3%
4
4034
40%
*3%
40
118% 118% *118
120
80
80
108
5%
79%
115% *110
115% *105% 115% *110
57
57
5634
5634
5634
5734
14
13%
14%
14%
14%
14%
120
300
1,400
3%
40
108% 108%
5%
5%
2,700
18%
18%
107% 107%
1134
12%
pref
Anchor Cap
No par
$6.50 conv preferred .No par
Andes
Copper Mining
Co
A P W Paper
20
No par
900
Archer Daniels Mld'ld.No par
50
•
7% preferred
100
Armour&Co(Del)pf 7% gtdlOO
Armour of Illinois new
5
$6 conv pref
No par
108%
1,600
5%
79%
115%
40,800
57%
"5",500
14%
7,500
1,600
Preferred
100
Armstrong Cork Co—No pgr
Arnold Constable Corp
5
44
Jan
15% Jan
97
9
3
8
Deo
Jan
Jan
115
Nov
105% Sept 30
66
Feb
96
June
3
30
Mar
34% Aug
2% Mar
9% Deo
3584 Nov
34
Jan
1384 Feb 13
32% Mar 6
32
Aug 29
Sept 12
May 2
14% Feb 17
175
22% Mar
6%
72
Feb
Aug
«4 May
284 Apr
19%
9234
3%
9%
Dec
Deo
Deo
Deo
Oct .2
9% Aug
934 Mar 20
2
Mar
49% Oct 7
19% Oct 3
41% Oct 5
21% July 20
8% Mar 6
14
Mar
42
3% Mar
17
12
3
Oct
15% Oct
6% Nov
46
28
Oct
40
Jan *7
4834 Oct
2
5% Jan 14
24
Jan 14
13% Apr 11
39% Oct
105
Oct
15
Apr
/29% Apr
Jan
14% Oct
4% Mar
3734
Feb
9
Mar
Mar
9
18% Mar
4% Apr
13% Mar
July 16
72
Jan
2
14% July 28
87% Sept 2
74% Sept 3
z24
Jan
34
Feb 19
39%Sept
Nov
38% Nov
4%
32
64% Oct
Aug
Aug
38% Aug
Oct
1%
3
Feb 13
Oct
8%
Mar
6
2978 Jan 14
11% Nov
2734 Nov
75%
Deo
33% Nov
12%
Deo
32%
Dec
130% Nov
36% Nov
1% Mar
9% Nov
10% Mar
8% Mar
49% Aug
10% Mar
134% Mar
1534 Mar
41% Aug
25% Deo
159
Sept
32% Nov
4
28% Aug 11
39% Oct 9
91% Mar 20
4% Mar
20
Mar
31% Apr
121
Feb
101%
Dec
21%
26%
64%
144
Deo
Jan
Deo
May
2
63
Jan
76
June
125
Feb
143
July
9
12
Mar
130
Aug 24
88
Feb
113
Deo
36
Jan 29
32% Dec
50% Dec
43
Jan
45
Oct
63% Aug 29
145
Sept 23
26% Jan 28
179% Sept 11
102% Feb 6
104
150
Feb
Mar 17
15% Oct
35
6
124
Dec
18% Jan
98% Mar
72% Apr
7484 Mar
117% Aug
25% Nov
70% Feb
140% May
27% Nov
160% Nov
104% Nov
107
Nov
141
Nov
129%
Jan
9
Mar
38%
7% Mar
9
Jan 11
2
3
Mar
22&4
94%
10»4
6884
2%
1134
5%
2
31
Apr 2
41% Oct 9
78% Oct* 9
2684 Mar 5
31
Mar
49
27% Oct
IO984 Sept
lli2 Feb
7034 Feb
2
10
Feb
9
2
1
1
5
Jan 10
734 Mar
73% Mar
111
Jan 30
9
15
Feb 17
June
Deo
8
May 13
July 1
Apr'30
118 May 11
105% Jan 3
4% June 10
66% Jan 2
104
Aug 18
47% Feb 24
7ls Jan 9
37
Dec
15284 Mar 11
108%May 28
73% Jan 22
144
Sept 26
136% Jan
129
33%
Oct
May
38
4
2484 Sept
65
Deo
3
Oct
4
104
25% Mar
33%
Nov
Sept 12
27% Jan
60
108%
11%
168
165% Aug
Jan
70
Jan
7
56s4
Deo
Mar
7
Aug 28
Apr 30
2
Deo
5784 Feb
47% Nov
10
Jan
18
40
80
15184
18»4 Apr 30
25% Jan
Oct
Deo
June
26
149%
Feb
2384 July
*52
$5 prior
Oot
48% Jan
41% June
13% Jan
lTo~" "Jan
44
36% Feb 20
4%
42%
134
43
2% Mar
Jan
27
60
78%
Nov
Mar
124
*52
77
Deo
9
21
114»4 Jan 14
87%May 11
59%
41%
76%
75% 77%
18%
18%
18%
1834
108%
107ial07% *107
24%
43
63
*51
76
22% Dec
3% Mar
/49
June
4
72
136
Jan
60
40%
Sept
64% Sept 11
138% Sept 14
137% July 17
169%Sept 5
54% Oct 9
90
Sept 24
3
31
June 17
2
Oct
124
30
.No par
Shipbuilding Co.No par
Amer Smelting & Refg-No par
Preferred
100
Amer
173"
22»4 Nov
Razor new. 18.50
American Seating Co.
Mar
Mar
157
Mill
Deo
125*
Mar
-—IOC
26
Preferred...1
American Rolling
32
14
13
Corp...No par
American Locomotive.-No par
Preferred
100
Amer Mach & Fdy Co-No par
Amer MacL & Metals. .No par
Amer Metal Co Ltd...No par
Jan
12
32% July 11
Amer Internat
21
,
9
10
1
1
No par
Dec
9
24
21
29
9
15
50
1834
36
2%
100
No par
No par
preferred
preferred
19%
5%
5%
10
No par
Preferred
36%
3 684
101
Amer Express Co
Amer & For'n Power
14", 700
12%
3734
2434
American Crystal Sugar
734
7%
Co) .25
10
Corp..20
:
Jan
Apr
Oct
84
3% Apr 30
71%
31%
Oct
5
82
23%
47
187
Mar
I84 Mar
6% Apr
40% Oct 106% Sept 22
245
Aug 8
29
Sept 8
1434 Oct 9
101
28%
99%
4%
12%
157
Dec
Oct
7% July 10
20% July
16% Jan
89
Apr 8
71
24
33%
56
29
81
32%
Deo
Dec
Am Coal of N. J (Alleg
81%
158%
Deo
14%
14%
Amer Colortype Co
12%
13%
37%
38%
101% 101%
23%
23%
130
14%
2
Oct
56% Oct
Am Comm'l Alcohol
71%
70%
*157
31%
35%
103
2%
11
11%
1138. 11%
40
40%
41%
40%
130%
130% 130% *130
68% *64%
68%
*64%
13
12
12%
12%
71%
23%
3034
37%
2434
18
38%
68%
12%
82%
157
17%
13%
39%
48%
2%
18%
13%
103
11%
11%
39% 40%
*130% 132
157
48
1234
2%
13
12%
3734 38%
10234 103%
21% 21%
*64%
12%
82%
7034
48%
2%
17%
48
5%
2% Mar
56%
9,000
37%
19
3%
2,000
18%
36%
47%
z20%
28%
38%
5%
No par
Nov
Deo
Sept
84 Mar
Tl%
18%
36
—100
7% preferred
American Chicle
2%
74
Mar 25
10%
38
20
No par
Chain
173
Apr
4% Jan 31
8epi
17% Sept
195
28%
18%
1934
5%
5%
10
*34
39
34%
20%
400
103
Preferred
84
74
Sept
13% Oct
186
Apr
98
29%
28%
9934
4%
18
36
1984
5%
*35%
48%
2%
400
No par
—100
Mar
6% Apr
Tl%
*13
36%
100
Preferred
8934
59%
59%
125% 125%
*156
5%
300
89%
14
18%
3734
168
25
American Can
American Car & Fdy
300
46
100
37% Nov
24% Deo
20% Deo
8% Feb
4% Mar
6% Sept
104% Mar
8134 July
Deo
65
37
5H% conv pref
11%
2834 Oct
65
Fdy.No par
Sept
Oct
7484 Nov
19%May 13
10
Note
Aug 14
7
Jan 31
116
4% Mar
21% Jan
9
52% Nov
Apr
35% Jan 21
50
Bank
Preferred
Am Brake Shoe &
12,100
2
Jan 2
Jan 2
Apr 28
74%
14%
3534
3 2%
75%
37%
34
12,300
*13
19
Am Agrlc Chem
130
134
Jan
634 Jan
69
60
No par
(Del)-No par
7% preferred
Amerada Corp
American
23
2
54%
*156
7%
150
2%
12%
12%
12%
1
Amalgam Leather Co
1,900
62%
2
7
54
14
»
*26
*164
44%
70%
126% 128%
300
2534
25%
25%
25% 25%
25%
*106
107
108
*106
*105% 108
8
8%
778
7%
7%
7%
55
55%
58%
55%
54% 54%
1
1
1
1%
1%
1%
7
7%
8%
678
7%
6%
4%
4%
4%
4%
4%
4%
60
12434 127%
*13
15%
*50
69%
*156
23
84%
70%
62
62%
*131
134
14
40
83%
*131
44
Jan
Jan
5% pref
100
Allls-Chalmers Mfg....No par
Alpha Portland Cem..No par
900
2
157
Allied Stores Corp.....No par
6,100
16,400
Jan
7
1,000
4,400
June
8
8
12,500
56%
28
Feb
94,100
6934
Feb
20% July
1434
102
June
98
84
102
Jan
51
27
2784
*54
32
110
Feb
Oct
2H% prior conv pf_.No par
Allegheny Steel Co.
No par
Alleg & West Ry 6% gtd__100
84
300
39
35
6134
*34
*34
"1184
41%
20%
584
247S
43
*69%
100
warr
27%
14%
69%
43%
53%
89%
89%
60
61%
6234
59%
60%
12534 *125% 12534 *125% 12534
104
*102% 10334 *102% 103
18
38%
*11
5134
55
100% 102
68% 69%
Pref A without
Allied Chemical & Dye.No par
Allied Mills Co Inc
No par
*13
31%
19
100
67%
39%
3778
24%
3334
40%
7738
2%
19%
~31%
147S
64
25%
41
71
4,500
62%
13
49V
12%
82%
237
*156
20
17,700
233
14
36%
4734
2%
37%
10
Oct
Feb
Aug 6
Apr 28
100
Highest
share $ per share
62
July 17
100
per
118
13
warr
Lowest
i
t'-are
Mar 31
59
178
with $40 warr
per
3
Apr 28
9% Apr 30
17%June 6
22% Jan 21
zl% Jan 14
7% Jan 2
68
Apr28
42
110% Aug
Albany & Sueque RR Co..100
t Allegheny Corp
No par
47
111
25
82%
46%
68%
37
$
share
Alaska Juneau Gold Mln...lO
Pref A
*108
per
Mar 25
Pref A with S30
64%
27%
13%
82%
47%
12
4534
10
$
91
7,600
5,100
10,000
25%
2834
46%
18%
397S
3734
No par
Multlgr Corp
Advance Rumely
No par
Affiliated Produots Ino.ATo par
22,100
x232% 235
28%
27%
27%
13%
14%
13%
82%
8234
8234
64%
62%
64%
19
22%
45
237
48%
158%
*140
237
4634
132
44%
3%
1~8~800
56
7%
105
*
55
7%
48%
2%
2%
17% 17%
13
1238
37% 38%
70%
2234
53
300
20%
82
50
*11
534
36%
4834
*64%
12%
4834
111
Address
No par
Adams Mlllls
57,700
66%
36%
25
Express
4,500
1,300
"l5%
54%
44
Adams
6,500
"
54
*108
100
Air Reduction Inc new.No par
53%
43%
38%
No par
Air Way EI Appllance.No par
Ala & Vlcksburg RR Co..100
53
111
Straus
5,400
51
*108
<fe
Preferred
10,700
49
438
Abraham
Acme Steel Co
4%
4934
99%
4%
30
60
1,700
45,100
4%
56%
734
558
36%
39%
27%
99%
15%
*174
4%
Range for Previous
Year 1935
Highest
Lowest
Par
77%
76%
3%
*99%
4%
51%
7%
20
JJ14
1134
27%
43%
37%
16%
*174
4%
7%
40%
*128
1134
28%
28%
4%
76%
3%
*156
778
48%
21%
234
*34
34
T6%
*99%
*15%
7%
734
47%
1878
105
4%
42
43%
43%
37%
39% 40%
*108
111
*107% 110
232
3%
*174
4%
4734
4%
75%
334
*99%
"4%
4
77
2321
On Basis of 100-sharfl Lots
STOCK
Week
$ per share
62
62
*62%
135s
*24%
richmond, va.« norfolk,va.
EXCHANGE
S per share
61%
6H2
1113s 1113g
•
Ranoe Since Jan. 1
STOCKS
NEW
for
Tuesday
Monday
Saturday
cleveland
New York Stock Record—Continued—Page 2
143
HIGH
AND
buffalo
•
5% Jan 27
48
Mar
4% Mar
35% Mar
% Mar
2% Mar
Dec
Deo
Aug
Mar
30
Deo
37
Deo
96% Oct
3% Mar
1% June
109
7
36
Jan
117
110% Jan 20
7% Jan 25
97
Aug
Apr
Jan
Deo
Sept
Nov
Deo
16% Apr
10% Sept
Jan 13
50
122
Deo
Nov
17%
12%
Jan
Apr
Deo
4
Deo
52
Aug
122% July
109
Deo
Apr
6%
Jan
84
Jan 28
55% May
70%
Jan
125
Jan 28
85
62% Mar 23
15
Mar
4
3%
Jan
25% July
4
Mar
110
50s4
Jan
Dec
9% Deo
New York Stock
2322
LOW
AND
HIGH
SALE PRICES—PER
Record—Continued—Page 3
SHARE, NOT PER CENT
Sales
STOCKS
Monday
Tuesday
Wednesday
Thursday
Friday
Oct. 5
Oct. 6
Oct. 7
Oct. 8
Oct. 9
Week
$ per share
$ per share
$ per share
$ per share
$ per share
$ per share
Shares
*93
20%
83
16%
*93
20%
—
-
-
21%
108% *105
108%
119
119
*112
119%
41
41
41
41
81%
82%
81
83
83
104
104%
104% 105
2678
28%
43%
28%
43%
26*4
42%
2734
42
26>8
26%
28%
44
44
4414
45%
46
46%
44%
28%
44%
28*4
*112
28
28l2
113
28
113
69
*1634
35*4
*684
17i2
35
7
*634
*38*2
40
40
5
5i8
3%
3i2
6134
25%
2038
39
3934
45
60i2
6U2
2578
45
108
1734
I8I4
1734
1778
IIII4 IHI4
23
18%
23
1734
3334
634
40
5
3%
3%
334
3%
62
61
6%
*39
5%
3%
3%
61%
3%
60%
6%
39%
5%
3%
3%
3%
38
38
5%
334
59%
3%
334
61
60
60%
60
60
60
61
25%
26%
25%
26%
40%
45%
26%
41%
25%
40%
40
40%
25%
3934
26%
40%
45
45
45%
111% 111% *111% 112%
21%
20%
21%
20%
108% 108%
19
18%
18%
18%
10734 IO734
18%
1934
46
*45%
111% 111%
20%
20%
107% 108%
*19
19%
*45
25
108% 108%
19%
19%
18
17%
100
109
No par
48
Jan 17
assented
100
100
Bangor & Aroostook
240
*41%
9414
101«4 *101U 10U2
'■'mi
*4112
m'm'm
95
95
14
1358
*83
-
Urn
95
1334
*83
85l2
3138
m
101% 10134 *101% 102% *101% 102%
*42
*43
*42%
95
*93
9434
94%
9434
9434
14%
1334
1334
14%
1334
13%
Beatrice
13%
*83
3034
23 78
23%
24%
3034
24%
60
3078
2334
59i2
85%
31%
6OI4
60%
60%
7214
72%
72i8
7278
187g
*1834
12414 12434
47i2
4712
1878
19*4
*47
28i2
*11U4 11U2
*102
104l2
4514
95
73%
18%
125
85
5
100
Creamery
31%
3238
3138
25%
60%
61
24%
*60%
73
1834
*124
74%
1834
125
94%
"MOO
14
1434
7,100
83%
8338
100
72%
18%
25
Bendix
61%
61%
1,900
7534
80,700
18%
2,900
48%
47%
47%
4734
48
19%
18%
*2834
1938
218%
19
18%
19
*2834
30
2934
2934
170
111% 111% *111% 111%
310
106
29%
45%
95%
4534
106
106
107
30%
29
30%
46%
46%
47%
4734
106
108
28%
4534
47%
108
108
28%
2938
46%
46%
96
96
97
97
97
96
41
41%
41%
42
42
42%
41%
42%
42
.
42
550
2714
27%
27%
27%
27%
27%
2738
27%
27%
28
14,300
80%
8%
80
81%
8%
81%
8%
82%
81%
81%
80%
2%
2%
15%
62%
2%
1534
63%
7958
838
258
8i2
8018
83g
2%
2i2
16
10i8
60 78
15i2
60%
6138
8%
234
2%
15%
62%
*52%
44%
7%
16
61%
55
55i2
*4434
45i2
44%
44%
738
738
7%
3878
7%
38%
5012
5634
*38*4
5614
39%
56%
*51
54
1738
16%
1678
1238
100
*52
45
8
7%
38%
784
40
56%
39
7,000
Bridgeport Brass Co
No par
Briggs" Manufacturing-No par
Briggs & Stratton
No par
28,800
54
*51
54
45%
7%
3834
56%
45%
7%
3834
17,600
56%
8,700
Bklyn Manh Transit.-No par
103% 103% *102% 103%
51
51
51%
51%
48
48
4834
50%
15%
1534
15%
15%
16
18
16%
16%
114
114
*110% 115
1,000
5,800
$0 preferred series A .No par
Brooklyn Union Gas...No par
1,300
Brown Shoe Co
9,600
734
39
5634
56%
1134
12%
1134
12%
12
12%
92%
90%
90%
89
91
%
29*2
3038
30i4
29%
30
34
10%
47%
28%
31%
34
70,200
2,200
No pa
29%
29
29%
28®4
29%
29%
3038
Bullard Co
No par
33%
34%
33%
34
33
34
5%
1534
5%
1534
5%
1534
2,100
16%
4%
18
18%
438
430
17%
17%
17
17%
4i8
4%
4%
4%
16%
53g
1634
16%
4%
25%
4%
39%
39%
39%
1%
39%
3834
39
25
1,260
u2
1*2
1%
1%
11,300
10l2
3678
10%
10%
11
10%
10%
10%
10%
10%
10%
10%
38
3634
37%
36%
37%
36%
19
37%
18%
37%
1834
37%
18%
20%
19%
20%
19%
1834
57
57
18%
*57%
10%
36%
19%
11,600
3734
*57
59
*57
59
58%
Debenture
100
*57
5,700
68,100
59
30
gu
pf ctfs.100
Butte Copper & Zinc
5
Byers Co (A M)
No par
Preferred.. —_______
_
.
1
Canada Southern
12l2
1234
12%
13%
13
14%
14
14%
1334
14%
13%
13% 156,900
50%
5034
51
5034
5034
51
51
51%
52
Cannon Mills
1638
5U2
16i2
5U2
50%
16%
16%
1634
17
*16%
17
16%
16%
16%
16%
900
52
51%
52
*51%
52
170
*100
5134
*100%
*102
103%
102
102"
8
8%
8
160% 162%
162
100
Canadian Pacific
51
*100
''■m
.
-
103% 103i2
8
7i2
159i2 I6O84
*
132
"sir.
*51%
*130
8134
52
132
8%
8
*100
103~%
8%
100
2102
102% *102
8%
166
162
167
162
*130% 132
132
132
*131
8%
-
mm
—
20
mrn-mm
240
8%
8,400
8
162
163
159
132%
13234 135
330
6,500
9,300
8134
81%
83
83%
84%
83%
8334
83%
84
2634
80%
26%
27
27%
26%
27%
26%
2634
39,700
31%
32
3134
31
31%
31
31%
31%
7,500
84%
84
26%
30%
83%
29%
46%
26%
3134
26%
31%
2614
3U2
84l2
29i8
2912
84%
29%
2934
29%
29%
29
84%
29%
45
47
45
4534
46%
9%
47%
46
48
83S
*51%
2100
*100%
*102
52
1,300
85
918
8%
108i2 108% *107
9%
108%
8434
9%
108% 108%
84%
9%
10
.
*84%
84%
50
54%
54
56
5434
56-
54%
55%
54%
55%
33,200
11%
11%
12%
1334
15%
13%
14%
13%
14%
54,300
124
22
22
*53
56
8514
68is
*178
124
6534
22
22
*52%
8512
6858
66
104%
85%
6834
55
87%
70%
124
65%
125
68
104% 104%
22
22%
58
52%
87%
87%
70%
70%
*135
6838
140
*135
71
70
104% 104% *104%
22
22%
22%
140
70%
i,iod
Checker
94
8,100
Chesapeake
72%
75%
74%
75%
2
2
*1%
2
5%
5%
5
5%
5%
5%
5%
1%
2
1%
2
1%
2
2
10%
9%
10%
73g
10%
7%
29%
10%
*7%
29%
29%
2934
30%
2934
2
2
2
2
4%
3%
4%
4%
334
10%
1734
5934
2%
3%
29
29
2
2
2
2
1%
4i8
414
4
4%
4
4%
338
3%
3%
358
3%
3%
10i8
1738
10ig
9
9%
9%
10%
1738
60
60
10
1734
5934
18
1734
1734
17%
5934
59%
2l2
2%
2%
2%
57g
534
6
6
6%
59%
2%
6%
59»4
212
6%
238
6%
5%
6%
6%
6
*29i8
534
29i2
29%
For footnotes
29%
see page
6
29%
2320
31%
30%
*7% 10
9%
*134
9%
2
48,700
300
1738Sept 30
1578May
1% Aug
5
27
34*8
7
4%
23,500
9,400
2
9
Mar 23
2
19
Mar 24
Jan
10%
3,200
18%
4,300
18%
59%
59%
2%
2%
2%
6%
6%
6%
*6%
2%
6%
6%
5%
6%
6
6%
32%
3034
31%
30%
31%
2,400
3,000
July
4784 July
27«4 Nov
70i2 Dec
878
Dec
234 Dec
I7i8 Nov
5538 Oct
55
Oct
42
Dec
5i2
38
Deo
Deo
4634 Aug
100
7112
6334
lUa
878
Aug
Aug
Aug
Dec
19
18
28
10
Jan
2
6
Jan
6
14
30
Jan
6
4014 Apr
2
103a Apr 30
20*4
6
54
60
.
%
Jan
6
1078 Jan 20
16
37
52
Apr 30
1234May
4534 Jan
8
87
Jan
4 zlOO
91
Jan
4
8
92i2 Jan
Jan
Feb 19
9
Oct
8
103l2 Oct
3
984 Feb 19
186
June 22
7
143
July 15
Apr 28
6*2 Apr 29
97%May 2
4734 Jan 21
4
80i2 Feb
4
5712 Sept
8
101
Aug 20
Sept
6
35
8%June
Apr 13
18f2 Feb 24
5212 Apr 18
034May 22
116
Mar 13
1314 Mar
1
Apr
5U Apr
10
84i4 Oct
3214 Jan
7
32
5
86
Oct
6
Sept 26
Mar
lf8 Mar
113s Mar
32
Mar
30f2 Aug
178 Feb 10
Oct
14 July
2f2 Mar
7f2 Mar
8*8 Sept
50
Apr
8% Oct
30
June
438 Mar
Feb
Feb
32%
82U
85
Mar
7
Dec
4584
83f2
3612
19i2
16*8
Mar
Nov
55
Nov
Apr
Jan
Apr
35U Mar 13
22U
57
Feb 21
34
10
Oct
10812 Oct 2
58
Apr 14
6i8 July
96*4 Mar
38% Jan
19k Mar 24
3^8 Mar
7
125
Oct
6
71
Oct
Feb
Mar
23
Mar
94
Oct
9
36
2
7538 Oct
9
37i8 Mai
1
Apr
78 June
5
5
58
1%
12
Jan 31
1934 Jan
No par
4,000
100
No
Jan 15
May 12
par
Pneumat Tool-No par
Rock Isl & Paciflo_-100
Jan 13
2% Feb
Sept 11
100
100
314
6I4
Mar
12
253sMay 13
H2 Apr 30
278 Apr 27
2f2 Apr 29
634May 1
12i2 Apr 30
4034May 4
lf2 Apr 23
3i2 Apr 24
314 Apr 28
100
.
4% Mar
2
Jan
2
Deo
984 Nov
143s Nov
14»4 Nov
28
Nov
3i8
Jan
10i2
22*2
Jan
Jan
3i2 Nov
20% Jan
60
Dec
4212 Feb
118 Jan
684 Oct
333s Nov
17% Deo
56it Oct
1334 Jan
40*4 Oct
14
Nov
48
Nov
88
Aug
July
8i8 Dec
11U4 Nov
126i2 Nov
95
60
Nov
3538 Jan
2U4 Nov
6234 Nov
29
May
62i2 Aug
I23g Jan
109i2
Jan
658a
153s
Deo
88U
DtoO
21
Dec
Dec
7
10412 Oct 7
2434 Oct 9
69i8 Apr 17
2
100
100
Dec
2412 Nov
Jan
Western.100
7%
preferred
3,300
6%
preferred
13,300 Chicago Yellow Cab
100
-
2i2 Mar
334 May
8U Mar
51
Mail Order Co
preferred
Deo
22% Dec
5978 Jan
97i2 Dec
25
Preferred
Conv
Dec
90
Mar
3
2
Preferred
tChic
65s Mar 20
253s Sept
Sept
31
Sept
4384 Aug
3% Mar
23
Jan
Milw St P & Pac.No par
Chicago
2478 Mar 23
84
6234 Mar
19
Aug
22*4 Jan
Western
Chicago & North
Oct
2i2 Jan
8*4
0
334
3% July
414 Mar
Nov
6
5
Ind & Louisv pref..100
3%
5
115i2Septl6
3138Sept
4
4%
9
28
100
4%
3%
Oct
59
5
Pre/erred
tChic
Mar
9
13sMay 19
278 Jan 4
II4 Apr 28
4,400
Mar
53
Oct
100
1%
Jan
43
Mar
100
Chicago
May
90
14
Great
JChio
14
3612 Mar
6
Oct
4914
preferred
30
5
56f2 Jan 31
655s Jan 15
7
0%
*7% 10
10
No par
Corp
tCbic & East 111 Ry Co
1,900
18
106
10
Chicago
2
5934
Apr 4
60f2 July 24
12*4 Mar 5
30
2,200
9,200
6
69
83s Apr
11% Jan
2034 Apr
25
Apr
6,300
30
17%
8
2
29%
59
Jan
6%
10%
i2 June
8% Apr
24i2 Feb
23i8 Jan
30% May
1% Apr
No par
Cab
Chesapeake & Ohio
2934
2%
10
100
Common
55
2
28%
preferred
2434
5%
10
7%
54
8,900
on Mil 1b.No par
6% prior pref
...100
Champ Pap & Fib Co 6% pflOO
23%
2%
10
50
92
2%
10
1,660
-
94
23%
5%
*8
100
Preferred
100
Cerro de Pasco Copper.No par
Certain-Teed Products.No par
55
10
1
100
100
preferred
90
2
1034
-
28*4 Jan
384 Mar
1878 Feb 13
8%May 19
21»4May 22
19
Apr 30
54
May 1
2538 Jan 6
88
2i8
10%
*7%
-
Mar
6478 Mar
17
114
Jan
Dec
21
33s Feb 14
45
Celanese Corp of Am..No par
JCelotex Co
No par
59%
514
11*8
-
90
38
51i2Mar
5434 Jan 16
5%
Oct
Deo
Nov
27i2 Sept
39% July
Jan 15
58% Sept 22
No par
87%
70%
5*4
1012
70
70
2
*1%
60
143
*138
*104%
70%
2%
2
Preferred certificates
Caterpillar Tractor
5684
*53%
100
...
Century Ribb
11%
*104
Stamped
Carriers & General Corp
Case (J I) Co
3,200
54
66
Carolina Clinch <fc Ohio Ry.100
934
934
9%
108%
108% *105
11%
124
10
Central Aguirre Assoc .No par
Central RR of New Jersey.100
54U
6512
Preferred A..
3,700
11%
*121
1
2,800
54
*10334 104U
Capital Ad minis cl A
29%
29%
45
108% 108% *103
25
..No par
47%
29%
45
9%
500
84
.100
Calumet & Hecla Cons Cop..5
Campbell W&C Fdy._ No par
Canada Dry Ginger Ale
5
51
Mar
2378 Aug
6f8 Mar
32% Aug 10
83f2 Mar 4
1U2 Jan 30
30*4 Apr 30
39*4
3034
3834
59
45
7
No par
39
30%
38%
1%
100% Apr 13
2
California Packing
Callahan Zinc-Lead
~~79%
3034
1%
6
7
33i2 Jan
40*4 Jan
2,000
81
30
1%
8
4
39%
80—
30%
1%
Oct
3U4 Aug
63f8 Mar
4f2 Jan
39
82%
30%
1%
108
Jan 17
No par
80
30%
9% Mar
16^ June
103U Jan
28f4 Mar
6
Jan 21
Byron Jackson Co.
82
30
M84 Mar
Jan
2
3,200
25
8234
30%
6
113
June 30
80%
30%
23%
81%
30%
5,700
18,800
Oct
20U Feb 19
2934 Oct 9
i2 Oct
Burroughs Add Mach__No par
JBush Term
No par
Bldg
48l2
Apr 27
1'8 July 16
yl2%July 2
43% Apr 30
47f2June 30
Second paid rights
Bush Term
Jan
30%
24
82
2434
8212
4%
24%
24%
800
Jan
Sept
Nov
7534 Oct 9
19i4Sept 1
Sept 23
14% Apr 29
2% Jan 2
16*2 Apr 29
54%June 15
22
Apr 30
4%
24%
80%
4%
23%
25,200
95
14'4
117i2
24%
2234
57i2
Sept
125
July 22
No par
1834
34
123
Budd Wheel
15%
33% Sept
8
Sept
2
Bulova Watch
5%
2018 Nov
108*8 June
7
7
16,600'
1534
Oct
Jan
79
Mar
18,100
5%
Deo
May
14
5
9*8 Jan
11,200
*15
1434
1001*
62
9734 Feb 4
44i2May 11
Sept 21
Nov
115
Feb
85
%
534
578 Mar
l"0734 "Jan
Jan
14i2July 8
18%May
10934 Jan 24
77*4 July 11
1078 Apr 30
41
Aug 20
80%June 12
Deo
15i2 Nov
88
Nov
100
10%
49%
16
116
June
48
4534 Apr 30
16% Apr 28
107f2July
Deo
Sept 25
%
33
32
llf8 Mar
18
10
16
18
Sept
25U Dec
49l2 Aug
117g Mar
15f8 Mar
878
Jan
7f2 Mar
72
115
47%
17
0%
9f8 Mar
36fs Mar
IO6I4 Mar
314 Feb
6
41
Jan
Dec
40
25*4 Oct
39
Jan
514
Feb
"33"
2
10%
32
li2
Sept
Dec
Oct
7% Apr
4
8
47
7,900
14
63
234 July
4
97
100
preferred....
5f2 May
35f2 May
Sept
I6I4 Mar
39f2 July 16
Jan
10
34
Mar 11
107i2 Sept
46%
5%
16%
*57
7%
26
lll%May 29
July 30
No par
100
Budd (E G) Mfg
19i2
45i2
105
100
7% pref. new
7% preferred
1034
31%
19%
No par
47%
5
1%
No par
%
10%
16
1%
Preferred
46%
30%
25
,70
Brooklyn & Queens Tr.No par
10%
5
5%
%
21,200
5
48
16
534
%
2,300
Bristol-Myers Co
115
Mar
Jan 18
23
May
48i2 Nov
Mar
21% Jan 20
Bruns-Balke-Collender.No par
Bucyrus-Erle Co
5
7%
400
1,800
9
3
Oct
Apr 8
19% July 13
114U Jan 15
6
1534
4
15
20
64
15%
Corp
28
Oct
3234 Apr
IO634 Jan
89f8May
32 s8 Oct
10
JBotany Cons Mills class A.50
63
2212 Oct
5
June
100
Borg-Warner
Mar
Deo
3
7
7
Oct
49f2 Feb 28
118
July 2
2
25% Jan
Boston & Maine
62%
41 f4
8
15
1,500
90%
10%
No par
9,500
1234
48%
No par
Class B
Borden Co (The)
4,400
95
34
Bon Ami class A
-
2
12%
IOI4
5
81%
9%
92%
47
Bohn Aluminum <fc Br
9
12%
%
5
2
98
1012
100
Boeing Airplane Co
170
12%
4778
Blumenthal & Co pref
45%
*38
57%
104
50
50%
4934
4634
46% 4634
4634
16%
1534
16%
16%
1634
16%
16%
16%
114% 115
*110% 115
IOI4
4%
24%
5634
104
4934
4634
*17
6134
54%
45%
100
9%
15%
54
Preferred
2%
15%
6234
9
2%
45%
96
95
100
34
9%
54
10434 106
I6I4
16%
17
16%
11434 11434
12%
62%
*95
4434
39
10434 *10334 10434
50i2
4934
49i2 50%
4614
*45i2
4614
46%
1678
15%
56%
xl04
*110i4 11434
96%
No par
Bloomingdale Brothers.iVo par
5,100
273s
(Del) .No par
20
preferred
Blaw-Knox Co
25,300
46%
new
6
7% preferred
100
Bigelow-Sanf Carp Ino.No par
450
29%
4114 -.-4114
2778
803S
5%
18,300
30%
Aviation
Feb
13% Jan
83
Beneficial Indus Loan..No par
Best & Co
No par
Mar
20f2
3
Oct
6134 Oct
26*2 Oct
Feb 28
53,000
1834
111% 111%
35
85
par
Belgian Nat Rys part pref
Beth Steel
62
2
8
50
Belding Heminway Co .No
36,600
125
Jan
Jan
20
Beech-Nut Packing Co
32
74%
18%
18
8
Aug 18
2438
125
May
107
31%
125
5414 Mar
10f8 Jan 15
46f2 Jan 24
734 Mar 18
z20
6
1634June 26
100
24
75%
18%
125
12014 Apr 18
30*8 Feb 14
14% Jan
110
3
6
Oct
35*8 Apr 10
109
100
31%
2434
61%
*83%
24%
94%
3714 Jan
17i2 Deo
1978 Deo
13*4 Jan 6
82% Jan 10
No par
84
1,200
1,100
29
2834
111% 111%
10434 106
29l2 30%
45
32%
25%
60%
*83
3
No par
$5 pref ww
Beech Creek RR Co
_
48
19%
29
IIII4 IIU4
3014
95
18%
125
48
1834
2834
28
29i2
4412
72%
18*2
19%
12478 12478
85
*43
19i2 Apr
4678
078 Feb 24
110*4 Sept
100
1st preferred
300
Dec
2984
334 Apr 22
3
..No par
Bayuk Cigars Inc
3,200
101% 101%
92f8
2i2 July
41% Jan
Barn8dall Oil Co
60
Deo
66% Mar
29i2 Apr 30
33«4 July 8
1578 Apr 30
21
Apr 30
100
Preferred
6H% conv preferred
8,600
3534 Mar
60
5
50
Barker Brothers
78,400
Dec
44
238 July
100
Preferred
400
100
Feb
538June 30
Works..No par
Baltimore & Ohio
7,400
Mar
29%June 30
3
Apr 9
Assented
Preferred
1,000
Sept
48
Aug 18
51% Feb 10
88l2 Aug 8
10634June 11
4438 Oct 3
29% Sept 14
Feb 18
June 20
Pref
109
119
Nov
June 12
14
Loco
IO934 Apr
73
26%June
..No par
Oct
1884 Nov
115
100 xl\2
Prior A
978
90
7f2 Mar
8078 Apr
2
Jan
No par
Austin Nicbols
384 Mar
Apr
70
May 13
Sept
Sept 17
No par
No par
Preferred
*101
21% Apr 24
11
Apr 22
13% Apr 24
26%June 4
Atlas Tack Corp
80
111
23
2
Preferred.
700
18
18
183S
18%
*111% 11134 *111% 11134 *111% 11134 *111
11134
23
23
23
23%
23%
23%
23%
23% 23%
1834
Jan
Auburn Automobile
3,300
15,200
111% 111%
20% 22%
June 19
9034
4% conv pref ser A
Atlas Powder
100
46
103
2
Baldwin
6034
22
Jan
10,300
4,700
3,200
2,000
66,000
14,600
3%
3%
60%
108
59
100
2218 Feb 27
Jan 20
Feb 21
Aviat Corp of Del(The)new_3
3%
\
3
8% Jan
12% Apr 30
95
May 21
18,600
60%
3%
$ per share
98
Atlantic Refining
600
1,600
1
1
$ per share
36
5%
60
3%
61
5%
$ per share
25
At G & W I SS Lines..No par
Preferred
100
21,800
18%
100
Oil
Atlantic Coast Line RR___100
3,500
36%
6%
1
Preferred
2,510
18%
34%
634
Highest
$ per share
Atch Topeka & Santa Fe._100
2,000
27,400
126
Lowest
100
Associated
16,000
70%
100
Goods
6% 1st preferred
7% 2d preferred
40
28
1834
34%
634
5%
100
28%
Year 1935
Highest
No par
Associated Dry
100
45
39
634
39
538
Artloom Corp
Preferred
4,200
20
40
61%
26%
18%
1734
18
353S
*38
108
111
17
33%
5%
39i2 4034
4478 45
11U2 113
2134
2U8
*11112 112
2138
2178
10734 109
16%
Par
12,300
113
Range for Previous
Lowest
20%
108%
119%
4134
82%
10434
43%
1936
EXCHANGE
104%
•
35%
6%
40
338
62
61
113
70
69%
124% 125%
17
16%
*93
21%
20%
*106
108% 108%
*112
119% *108%
*41
41% *41%
80
80%
80%
105
105
10434
4234
41»4
42%
27
27
2734
44%
44% 46%
28
2834
28%
11234 11234 11234
70
69%
69%
126
126
126
16%
7
3%
312
61
2834
*111
16%
104%
20%
3334
36
5l8
334
112
69%
69%
124% 124%
124%
*1634
17%
36i8
29
112
28%
*112
68
69*2
6918
*12234 124*2 *123
16%
*93
■
20%
42
10414 104l2
42l2 4334
4438
16
120
8184
104U 10412
17
'mmmrn.
20%
*105
108%
*41
41
43
*93
21
20%
108i8 *105
*117i2 11918 *113
823s
1634
10478 1047g
10478
207s
*105
41
17
1678
17%
10,
On Basis of lOO-sftare Lots
the
Oct. 3
Range Since Jan. 1
NEW YORK STOCK
JWI
Saturday
1738
Oct.
313s Jan 6
278 Feb 11
578 Feb 11
478 Feb 21
12i8 Feb 21
20% Jan 2
60 Sept 9
1
Feb
Feb
Mar
9
Dec
19i8 June
z35
Nov
14 Mar
3
84 Mar
434
Jan
1% June
5%
10%
Jan
3% July
4% Mar
20
Mar
3
Feb
8
84 July
8
Jan 11
1% Mar
U4 July
8
July 15
325g Oct 7
6H4 Nov
5314 Dec
2*8 Jan
314 Deo
214 Jan
5% Dec
914 July
Jan
Jan
20%
5484
2%
414
Deo
4
Jan
Deo
Jan
Dec
1934 Dec
Volume
LOW
AND
New York Stock
143
HIGH
SALE PRICES—PER
SHARE,
Record—Continued—Page 4
Sales
NOT PER CENT
STOCKS
Monday
Tuesday
Wednesday
Thursday
Oct. 3
Oct. 5
Oct. 6
Oct. 7
Oct. 8
$ per share
$ per share
$ per share
$ per share
$ per share
1858
1812
9%
934
*32
35
126
12678
1734
1734
82%
1038
82
10
*97
1914
10i2
1078
3938
38i2
*111
187g
934
1038
*32i2 35
12584 127
175g 17&s
82i2 8334
38
38%
mim
*97
'
m.
113
*3912
87
•
111
3978
87
1914
35
*97
-—«■
*108
«.
187s A878
978
I0i8
35
*32i4
126i4 128i2
1758
17»4
8134
8134
11
105g
3612
*97
-
4014
397g
*87
91
*4934
*4934
38
mm
IIIS4 *108
40
*87
91
10l8
12558 12678
17i2 1758
82
82i2
11
1034
3714 38
4018
*87
*4984
'm'mm
111
3978
I884
978
35
mm
m.
m.
19%
984
*32%
12538 127
91
Shares
$ per share
19%
19%
934
*32%
1,700
4,900
978
35
20
126% 12784
17%
17%
88,600
2,000
175s
83.
83
83
210
11
IO84
11
3678
36%
37%
39,000
4,300
1058
36%
*97
*87
mm
'mm
-m'mm
*97
11134 *108
41
~
*4934
-
-
-
-
m.
mm
mm
91
'mm
-
10
■mm mm -
-
108
*100
101
7134
*119
8234
101
7212
122
84
127i2 127i2
40
407s
47%
19i2
47l8
2018
*10834
101
7114
723s
119i8 119l8
83% 8434
127i2 13014
4018 41i4
47is
4718
12912 131
128%
40
40l4
395s
46
473s
4578
1958
197S
19l2 207s
203s
109
108%
1081s 108iS
108%
100
100
100
IOH4
101%
71
7118
717s
7U2
70%
119
11914
1185s 119
*117%
84
8412 8478
84
847S
3,000
200
50,700
300
44,800
140
397g
457g
108%
46
420
10,300
2,920
11,700
210
630
60
21
3834
*108
101% *101
71
109
101%
170
707«
20,800
70
118%
84%
1,700
6,100
1,000
86,700
1,300
39%
48%
20%
mm'mm'mm
mm
128% *126% 129
2078
-
m'mm
mm m mm
112
112
*llll2 112
*llll4 112
IIH4 11H2
*llll2 112
*111% 112
*11058 11148 *11058 1113s *11058 1113s *11058 1113g *11058 1115s *110% 11138
2734
28i2
*27l8
2734 277g
2784
28is
28ls
28% 28%
28% 28%
9
85s
878
8S4
85s
87g
838
834
834
834
87S
8%
34
36
35
3434 3578
35%
34l2 36
3558
34% 3478
35%
38
3884
381s
383g 3978
393s
3914 3978
38%
38% 38%
3878
29
29
29
29
29% 29U
29i4 30
28% 28%
28% 28%
34
31
33
35
34
34
35
*3314 34%
3414 34i2
34%
*30
32%
31i2
*30
32i2 *30
3284 *30
32I2 *30
32%
32%
*12412 127
4138
417g
47%
47%
2018 20%
10758 10758
-
3,000
mmmrnim
mmmm
mm
100
6,400
63
63
63
63
63i2 I 63
62% 6314
6334
*126i2
*12612
*126i2 'mm
*126%
*126%
122
122
121
121
121
121
121U 121
121% 122
121l2 121
57
57
57
57
*5634
*56% 5714 *567s
5684 5634 *5 684 57
158s
155s
1584
I6I4
16l8
155g
157s
167g
163s
17%
1678
17%
*104
104
104i2 *104
10412 *104i8 10412 104l2 104l2 104% 104% 104
58
60
58
5634
5634
5638
5978
57%
59% 62
58% 59%
6H2
*126i2
m:mm
44%
*87
91
•»
-
11134
41%
900
117% 117%
8378
8,900
84%
Par
Chlckasha Cotton Oil
10
Chllds Co
Chile Copper
No par
25
Co
Chrysler Corp
City Ice & Fuel
5
..No par
100
Preferred.,
City Stores
Clark Equipment
6
No par
C C C & St Louis pref
100
Clev El Ilium Co pref. .No par
Clev Graph Bronze Co (The).l
334
73
378
735s
*778
8
333s
335g
22
22
*1514
1012
71
*82i2
*72
163g
1078
71%
83
110
*126
1558
334
778
3334
22
22
163s
71
734
337g
77s
72
77s
3414
34
3478
22
22
163s
15l2
*1514
1138
78
35g
I884
185g
214
70i4
*2U2
7084
22
39%
2%
333s
34
3434
6612
71
,
34l2
57g
36%
3478
83
83
*52
53
36
*108
11
11%
11
11
4,700
75
75
75
75
220
*83%
90
85
85
60
*72
82
*72
82
83
83
*85
110
40
714 i*.
78
35s
18i2
2II4
^mmrnrnm
7
714
%
3's
18>4
*66i8
*465g
68
175s
845g
2984
24i8
4978
207S
6i2
*145.,
*63
*4
68
49%
68l2
1778
855g
108
108
8I4
1334
108
*105
*105
*634
7"
684
58
3%
18%
34
23s
3i2
18i2
2078
1934
23s
99l2
98i2
9912
7112
2218
39i2
284
21%
3914
25g
2H2
70i2
2138
717g
2I84
3934
25s
41
345s
3434
34
35
34
35
34
34
3334
34
33
34
33%
66
6612
6558
66i8
6534
66l8
66
25g
71
7014
*153
7OI4
161
558
*150
684
19»4
3934
258
71U
161
512
55s
70
*155
512
19
71%
21
41%
40
69
160
55s
5%
33l2
34
3312
34
333g
835s
*5234
5234
52i2
8484
53%
55s
34%
33
66%
69%
*158%
5%
36
36
3384
53
-
-
-
«•
108
108
100
ni„
vl2
100
3714
3714
2034 21
109ig 1095s
634
6i2
1934
19%
67
67
*4684
4914
6884
*105
*105
111
12
12
12%
1134
56%
55
563s
5534
122
121% 121% *120
li2
13s
112
1%
11
105s
1034
11%
m
W2
97g
10%
121
118s
5584
^
*100
373g
103
3738
2058 2114
109i2 10912
638
191s
*6618
*4634
68i2
1738
65s
197s
68
101
*3738
102
37%
21
2214
109l2 10912
6i2
684
19is
1984
68
49U
*4684
49%
6884
1784
69
1712
17&8
89i4
94i2
30
30i4
24
9H2
30l8
2378
50is
2184
947S
30%
2434
4912
21%
6l2
146
*60
5034
223s
7
14934
........
*4%
5i2
70
101
37
49%
*69%
17%
92
30%
235s
4938
2I84
684
*63
*63
*4%
*63
5i2
*412
*1014
*5378
307s
«...
2,600
19%
49%
49%
70
69
69
175s
943g
17%
1784
9134
93%
30%
2334
30%
30%
237S
51
51
24%
52%
22%
22%
684
149
mm
mm
mm
31
32
38%
22%
38%
237g
19
19
30i8
3H2
3084
31
38
38
38
3812
2338
38i2
223s
38%
2234
19
19
19
2134
684
*148
*63
*4%
*10%
54%
3134
3884
22%
19
678
150
mm
mm
5
17
J,
..
48,200
10,800
300
800
380
1 O
KAA
360
1,000
22,100
1,700
52,400
33,700
49%
31
5378
«.
72
54
547g
2214
*1884
I884
54
*53
37
22
22%
109% 109%
6%
6%
72
54%
54
3634
_
1%
11%
74
17
54
54
375g
*10%
17
1%
*1084
-
122
1U^4 —10%—10%
104
106
106
5
17
17
1%
11%
12%
56%
1AQ,
*4%
5%
*10
*10
*121
21% 2284
109% 109%
6%
63s
19
19%
149
17
235s
A
245g
24%
513s
515s
22
225s
2278
67g
678
678
67g
149
149
149l2 *147
50
*10
23i8
*1884
t
74
72
30
*6838
177s
*1%
*11
—lU
121
••
-
230
50
3,000
2,400
36,500
2,300
2,600
48,800
73,300
1,600
1,000
'mm*mm*~
—
mmm.rn.mm-m
mmmmm
—
-
600
54%
33%
3834
6,700
2334
17,000
19
1,000
300
57
56
104s
1012
IOI4
79i2
81
7934
46
47
2384
2434
«4
23
1%
75g
1478
*H2
*5g
*13s
7i2
*1378
*46
56l4
IHs
8078
47i2
2312
714
«4
178
75g
1378
1378
34
*113
120
*113
163
164
164
130
130
130
*113% 11412
85s
878
170% 172
16514
1301s
1143s 1143S
457g
*111% nil135*
13%
3758
383g
13
13i2
4634
1314
56
523g
IU4
113s
82i4
Ills
113s
5234
11%
53%
11%
5284
11%
76
82%
74
47
46i2
23i2
24
46%
24%
47%
24%
*84
757g
47%
74%
47%
24%
*84
*1%
7%
79
*4614
23i2
34
*112
714
1378
*113
78
178
712
1378
120
165
5484
*34
7s
*112
178
73g
1478
7
*14
*113
16512
130l4 131
166
11438 1143s
113
1%
7%
1478
*113
2484
7S
1%
7%
15%
For footnotes see page
2320,
14%
53
11%
76%
47%
2434
7s
1%
8
1484
3,400
113
113
113
113
130
8%
176
38%
39
5,700
2,600
30
6,200
May
46i8 Mar 24
97 May 8
12% May
6i2 Nov
27% Deo
80
89
Mar
2
27%
Deo
July
Aug
48%
87
July
100
Coca-Cola Co (The)-—No par
Class A
No par
124
Jan 15
110
84
Jan 31
125
Colgate-Palmollve-Peet No par
6% preferred
j.100
13
Dec
52*4
Collins & Alkman
No par
Preferred
100
Aug 14
39i2 Apr 30
Jan
7
No par
100
10
-
No par
$4.25conv pf ser of '35No par
Solvents. -No par
Commercial
Commonw'lth & Sou
No par
36 preferred series—No par
Conde Nast Pub Inc.—No par
Congoleum-Nalrn Inc..No par
Congress Cigar
No par
Connecticut Ry & Ltg pf._100
Consolidated Cigar
Preferred
No par
100
Prior preferred
Prior pref ex-warrants
Consol Film Indus
100
-100
-
—
Preferred
1
No par
Consol Ed Co of N Y-No par
S5 preferred
No par
Consol Laundries Corp
5
Consol Oil Corp
No par
Preferred
No par
Consol RR of Cuba pref--.100
31 May 20
42i2May 26
14
Jan
2
90i2 Jan
8034 Jan
2
6
44
Jan
9
IOOI4 July
7
55
Jan
9
110% Jan
9
v t c
Preferred
100
20
2.50
Continental Insurance
Continental Motors
1
Continental Oil of Del
5
Continental Steel Corp .No par
Corn Exch Bank Trust Co .20
Corn Products Refining.
25
100
Preferred
No par
Coty Inc
Cream of Wheat ctfs
No par
Crosley Radio Corp—-No par
Crown Cork & Seal
No par
S2.25 conv pref w w.No par
Cr W'mette Pap 1st pf.No par
Crown Zellerbach v t c.No par
Crucible Steel of America.-100
100
Preferred
Cuba Co (The)
Cuba RR 6% pref
No par
100
10
Sugar
100
Preferred
50
Packing
Curtis Pub Co (The)—No par
No par
Preferred
—1
Curtiss-Wright
1
Class A
Cushman's Sons 7% pref--100
No par
preferred
No par
Ine
-.5
Davega Stores Corp
No par
20
Deere & Co
Preferred
Deisel-Wemmer-Gllb
Delaware & Hudson
Corp. 10
100
Delaware Lack & Western..50
Denv & Rio Gr West pref -100
Jan 10
97
1414 June 26
214 Apr 30
59U Apr 28
7
July
3
307g Aug
7
16
2
Jan
15
8
Aug 28
June
3
6534June
72U Jan
73i2 Feb
4% Sept
1514 Apr
27U Apr
24
27
13
28
30
30
1C2
Jan
3
37S Apr 28
11% Apr 30
101
Jan
6
5i2Sept23
{Consolidated Textile.-No par
Consol Coal Co (Del) v t c.25
38May
2
5
June 18
12i4June 18
1534May 14
103s Jan 6
15s Jan 2
67i4 Jan 3
No par
—No par
Dome Mines Ltd
No par
Dominion Stores Ltd..No par
Preferred
—
Dunhill International
Duplan Silk..
1
-.-.—No par
1113411134
13%
1334
34,400
Preferred
Electric Boat
-No par
.5
—100
3
31
50
Dec
1544
90%
Deo
Mar
83
Deo
Jan
58
561*4 "Feb
72
Aug
115i2
Jan
39i2
Oct
Oct1*
"
IIOI4 Dec
977g July
16i2 Oct
84 Mar
105
Oct
2348
Jan
3
Nov
Jan
71
Oct
57g Mar
11
Deo
2918
27
Mar
9
Feb
24
Nov
4544 Nov
21% Nov
58i2 Sept
IH4 Nov
7
Mar
78
Jan 15
62
Mar
85
Mar 24
69
Nov
82
Feb
85
Mar 25
72l2
Oct
80
Mar
7ia Feb 13
20is Feb 13
314
1414
157S
72i8
1%
6%
100i2
May
May
Feb
Feb
Mar
2i2
Jan
4514 Oct
9
109
July 14
8% Oct 5
15% Mar 6
106%June30
11% Feb 5
158 Jan 16
4% Apr 18
20i2 Apr 17
26]4 Mar
9
203s Oct
9
234 Feb 21
Mar
Deo
8s Aug
22
Deo
4% Mar
% Apr
74
Jan
7i2 Jan
22ig Feb
3444 Nov
10518 Nov
63a
Deo
1214
Deo
lOHg Dec
8U Deo
148 Nov
2318 Deo
1178 Dec
178 Deo
7
Jan
27
46
July 9
5514 Apr 30
635s Aug 22
158
Aug 20
4
July 1
35
Mar 27
155s Mar 16
435s Jan 7
46% July 22
102
Jan 27
7UMay
4
28
Apr 30
95i2 Apr 29
li4Sept28
9
Sept 26
618 Jan
7
63i2 Jan 7
35i2May 26
1678june 4
99i2 Mar 13
4
Jan 15
10i2 Jan 6
Sept 9
36i8May 17
59
43U Jan 6
7% Apr 27
46
Feb 11
4
Mar 20
38i2 Feb 11
Apr 8
69
Jan 14
82i2June 18
168i2 Apr 15
788 Mar
6
3734June 19
353s Sept 1
8478 Oct 6
5414 Sept 21
109
July 22
12% Oct 2
6684 Oct 5
1245s Sept 21
5% July
40i2 Jan
37
Dec
15
Mar
89i2 Mar
2
Mar
6i4 Mar
Deo
Deo
Deo
IO514
2%
Deo
Deo
14
Deo
8% May
8O84 May
47i2 Jan
2444 Nov
105% Jun
45s
1214
Deo
Deo
*95
Nov
70t2 Jan 27
61
June
75
Nov
16
Mar
47
Deo
6
June
70
Oct
7
Feb
7
26%S*nt 9
5258 Oct 9
23% Feb 20
93g Feb 7
2244 Mar
19
Jan
1878
Dec
23i2 Mar
11
Mar
10i2 Deo
5884 Nov
28
Sept
24i? Dee
43i2 Jan
19i8 Jan
Feb
5
Deo
153
Feb 17
65
Mar
130
Dec
May 12
45
Apr
45
3
2
Aug
6
Jan
Oct
19
Deo
503s
Jan
60
Jan 24
65
4
Apr 29
10
13
June 12
213s Jan 31
42
Jan 10
58% July 27
Jan
30i8 Oct
5
40i2 Jan 25
38
8
43
I8I4 Apr 30
Aug
3458 Jan
19
Oct
21
40
Aug 10
534 Apr 28
oOs4 Apr 27
IIOI4 Jan 23
10
Apr 30
47i2 Apr
918
38
Mar
31
8
Mar
Deo
73
2
6
100
14
May
7%
397g Mar
193g Deo
487g Nov
Jan 21
90
J&n
Jan
74% Mar
3i2 Mar
Jan
24U Apr 13
IIOI4 Sept 16
9i4Mar 11
2H8 Mar 9
Deo
69<4 Deo
783g July
165
Jan
27
7
Oct
1
18i4SeptlO
9478 Oct 7
Jan
60
Deo
35
148% Oct
4% Mar
357g Jan
1134 Sept
23i2 Mar
5
7
488 Jan 4
May 12
4144 Mar
4
278 Feb
Jan
Wit Apr 28
3634 Jan 20
1478 Apr 30
2878 Mar
84 Jan
1518 Mar
18i2 Feb 4
1414 Mar 9
10978 Sept 5
44i2 Jan 14
Q2
Feb
Elec Auto-Lite (The)—
Deo
Dec
Mar
Mar
9914 Nov
20i2 Dec
447S Dec
244 Nov
Apr 30
Eitingon Schlld
4014
48i2
348
35i2
Deo
17l2 Deo
IOH4 Nov
497g Deo
69
114
36,400
Jan
Jan
133
40,600
7
Jan
100
1434
Feb 27
Jan 8
Mar 4
Jan 3
Jan 22
21
Deo
6284
Feb 7
6% non-voting deb
100 129
Duquesne Light 1st pref-_-100 *111% June 12
13
Durham Hosiery Mills pf-100
Aug 11
Eastern Rolling Mills——..5
5i2July
1
156
Eastman Kodak (N J)-No par
Apr 28
6% cum preferred..
100 152 July 24
Eaton Mfg Co
No par
28i2 Jan 6
46%
12%
44i2
2534
33i2
133s
22i2 Deo
Feb
29
46I4
Du P de Nemours(E I)<feCo_20
13
Feb 17
Feb
7
6% Mar
136i2 Aug 11
*45% Jan 22
51% Jan 23
23*8 July 28
10834 Oct 5
103
Aug 24
82
Jan
Mar
1044
4
8478 Sept 30
H914 Oct 6
8478 Oct 6
123
July 22
126i2 Oct 7
245s Feb 21
5i2 Feb 17
5i2
5
Jan 11
Mar
97g Nov
87% Jan 13
243g Mar 5
5% non-cum preferred--100
Devoe & Raynolds A
No par
Diamond Match.
No par
Ltd No par
Mar
9% Feb 19
49
Jan
Dee
102i2Septl7
128
Participating preferred—25
684
585s Deo
67i2May 7
17i2June30
35i? Apr 30
2i8 Apr 30
28i8June 6
100
Det Hillsdale & SWRR ColOO
Det & Mackinac Ry Co—100
Detroit Edison
Distil Corp-Seagr's
Dixie-Vortex Co
Deo
94
-
Cutler-Hammer
109
t c No par
Commercial Credit
8%
Dec
69>4 Mar
36
4J£% conv pref
100
Comm'l Invest Trust-.No par
Cudahy
Dec
50
2
preferred
Cuban-American
107U
Jan
Col Plct Corp v t c
5% preferred
Jan
16
$2.75 conv prefNo par
Columbia Gas & EIeo__No par
Preferred series A—
100
Deo
Mar
100
v
21
May
9
100
4% 1st preferred
4% 2d preferred-
8I4 Jan
93
101
Oct
3978 Oct 3
36'4 Feb 20
3778 Mar 11
{Colorado Fuel & Iron.No par
107% Jan 3
1105s Sept 24
126
15i8 June
Deo
"
62
3% Mar 16
2378 Sept
28i4Septl7
21% Jan 2
1918 Jan 2
No par
Preferred
100
Colo Fuel & Iron Corp .No par
Colorado & Southern
100
6%
June 30
Aug
72i2 Nov
5338 Apr
Sept
Oct
June
5778June
20% Jan
106t2 Feb 28
6
Preferred called
Colonial Beacon Oil
Columbian Carbon
556s Jan 16
112% Sept 14
11058Sept24
2884 July 20
100
4534
130
100
314 Apr
20
Preferred
114
Oct
6
70% Feb
129
July 28
lis Jan 6
478 July 10
13% Aug 27
12,400
12
6984 Sept
Deo
937g Deo
2478 May
Apr 28
100
168
Mar
48
%May 20
120
31
par
Co.-No
5i2 Jan 10
130% 131
Nov
Cluett Peabody &
Preferred
29
167
Dec
26
48'
Convertible class B__No par
*113
Oct
9
Feb
Mar
Duluth S S & Atlantic—100
900
11
3I84
9
June
Dresser(SR)Mfg conv A No par
7,600
I28i2 Oct 7
1978 Feb 14
8684 Aug 19
Sept
3i2 Mar
48
500
300
25
46
July
300
131
8%
33
30U Jan
11*4 Jan 24
3634 Aug 13
IIH4 Aug 13
107% Jan
3,400
120
174
90
Jan
Jan
Jan
Jan 21
Feb 10
4H2 Jan 2
734 Apr 28
50% Jan 6
*131
163% 163%
1514
727g
434
2334
Douglas Aircr Co Inc..No par
4,800
3,000
1673s *166% 167
120
85i2 Jan 21
95,400
131i2 132
8
8%
8i2
834
81s
8i4
175
177
177
175%
174i2 17778
*158U 163l2 *158% 163%
163i2 *158U 163i2
38
39
383g 387S
38i2
3812 39
127g
13U
123s
1258
13%
1338
13%
45% 46
4634
4534
4678
4512 47
llll2 11112 llll2
llli2 11134 11134 11184
14%
13%
1334
14ia
14i4
1334
13l2
8I4
87S
17278 17412
163i2
3784
1234
4578
11112
*15814 16312
120
54
Jan
80
Class A
56
Jan
Feb 20
Continental Diamond Fibre. .5
53
*
7
May 18
3,600
14,000
84
83%
52's
*105
173s Sept 19
25
50
Continental Can Inc
5,200
7,000
f per share
87
27,800
33%
$ per share
Feb 26
Continental Bak CI A..No par
Class B
No par
18,500
34% 304,200
33%
4,500
67%
1,020
9,200
70%
100
160
8,200
5%
36
3,500
$ per share
Mar 30
10,300
1,300
Highest
$ per share
48
100
Container Corp of America.20
3
3234
845s
-
'
•
vl2
69
8314
6984
160
2%
mm
Lowest
82
32,900
15,100
41
234
3478
33%
6684
m
660
21%
203s
2%
99%
213s
3412
847g
3%
25g
33%
5H2
*18%
2078
mm
1,800
20,300
3,400
684
»4
3%
1834
21%
40%
36
82
18%
21%
19%
2%
m
7278
21%
36
52
6%
34
7034
36
83i4
67g
34
338
74,800
m'mrnmm
71
36
52
*105
800
6,600
8%
14%
99
36
83%
mm
—
6,600
5,800
73,100
108
77g
137g
70%
*98
284
161
mm
108
19%
2%
9778
2%
36
147
1914
2034
36
24
*1884
14
703g
30
3178
3884
2384
108%
8%
9912
2414
3H2
*37%
233g
8
137g
8l2
14
71
30
5i2
478
1834
45%
99l2
1778
86i2
21%
6i2
18
44%
20i2
1918
2l4
84
503s
434
18%
4478
58
12
684
1978
434
18%
44
33s
5684
658
19%
45s
18
44l2
1812
203s
19U
214
llSg
37
45g
175s
4318
34
3i2
18U
20%
56
36%
412
•
195s
2%
12
12U
113s
56
56%
5634
*122
*120l2 124
123l2
*13s
1%
1%
13s
10i2
10%
10%
105s
21
215g
*109i8 110
270
84
12
99
15,400
1,000
lll2
7318
56
99
2134
I684
IDs
20%
1834
214
99%
*108
Q7„
16
84
3334
3414
161
16%
7318
3914
534
J 6%
113S
2H2
39
70
21%
163s
5,500
8%
83
70
*156
37
8
73
34
33s
18%
20U
66i2
83s
36%
22%
36
2214
8%
355g
22%
8i2
7734
4% 375,300
78%
9,400
73
7
2is
*9934
2l2
75
4%
77
58,800
17%
83
117s
*105
I8I4
i
4
4
16%
4%
110
*72
*18l4
1984
.
16%
7434
77s
500
127
15%
7112
*105
7
125% 126% *125
83
7112
*82i2
4%
434
4i2
458
412
18
1778
175g
17%
1778
43
427g 437g
4378
4334
*107
10634 IO684 *10684 108
108i2
8% \
8U
8%
85s
8I4
83s
14
14
1334
1334
13%
1378
684
34
358
1514
35s
334
4i2
177s
43i2
*105
12612
15i2
7H2
3414
107g
126
15l2
22
72
378
7314
*1514
127
1514
358
Highest
Clev & Pitts RR Co 7%gtd50
Special
60
Conv preferred
1245s 124% *126
15%
155g
15?8
Year 1935
Lowest
Week
*82
*4984
63
62
9
Range for Previous
EXCHANGE
*17%
11134 *108
40
3978
*4934
19%
978
35
On Basis of 100-share Lots
the
Friday
Oct
Range Since Jan. 1
NEW YORK STOCK
JUI
Saturday
2323
6
2
1178 Jan 23
82i4 Oct 6
4712 Oct 8
25% Aug 7
134 Jan 15
Jan 15
8% Mar 9
18% Jan 17
H584 July 28
168
Oct
9
133is Apr 1
11534 Feb 14
25
5%
35i2 Aug
26i2 Jan
34% Jan
33
Dec
41
Apr
Nov
4H2 May
38i2 Deo
June 19
4084 July 18
61%June 4
3
1%
Jan 13
978 Feb 11
185
Aug
166
Mar 13
8
393$ Sept 24
1434 Oct
9
47
Oct
7
114
Feb
6
17% Feb
4
?4i8 Jan
684 May
171? Mar
13i2 Mar
63s Mar
14 June
14 June
2
June
1244 May
103
Mar
86% Mar
1267g Feb
104
Feb
12
Nov
445s Deo
125s Jan
583g Deo
32
Nov
17i2
Deo
1
Deo
14s
814
Deo
19
Deo
Aug
116
Nov
146i2 Nov
132
Oct
115
Aug
Deo
27%
8
Jan
334 Mar
110i2 Jan
172% Nov
141
164
Jan
1658 Jan
314 Mar
198g June
107
Jan
37* Mar
July
305s Oct
838 Nov
3834 Oct
1131? Sept
143*
Deo
New York Stock Record—Continued—Page 5
2324
LOW
AND
Saturday
HIGH
SALE PRICES—PER
Monday
Tuesday
SHARE,
Wednesday
Oct. 3
Oct. 5
Oct. 6
Oct. 7
$ per share
$ per share
$ per share
$ per share
5i8
NOT PER CENT
Oct. 8
5%
514
1514
1512
5%
15%
15%
15%
16%
15%
78
1514
78U
5%
15%
78
80%
80
81%
79
80%
78%
71U
71%
70i8
72
71
72%
70
71
47
47
46%
%
4714
47%
%
234
%
2%
47%
%
2%
47%
%
2%
72%
47%
1
*%
234
234
2ig
5%
5%
57
13
*56
57
56
56
*55
11512
13i8
*54%
*110
112
112
113
113
*114
*803S
82
*82
86
*90
12l2
*803g
9478
82
*90
7
1234
*1234
81
81
84
84
94%
*92
9434
92
92
17i2
3358
34%
2714
27%
18
14
*5%
14%
32%
5%
*13%
31%
5%
3%
3%
15%
3%
16%
3%
25g
*1234
258
13U
278
2%
3
65
13
67
66i2
200
*190
47l4
2534
*97i2
*4U2
*195
48i4
4734
26%
99
*98
4312
*4112
94
*90
878
914
4
4
4%
*3778
9%
334
412
4%
13%
67%
1534
69
69
200
200
48%
26i4
26l2
94
13
67%
200
*200
47%
48%
48%
26
25
*98
43
43
46
*91
105
9%
9%
334
4%
4%
46%
*95
9%
9%
*3%
334
4%
4%
38%
*37
38
38i2
38%
38%
42
4112 4D2
42%
4134
4134
*36
*36
*3612 3978
39%
39%
*110i8 llOSg 110% 110i4 *110% 110%
2914
29i2
29%
29i8
29%
29%
10434 10434 *10414 105
104% 104%
47
47
47
48
47
47%
34
3458 3514
33%
35%
34%
*30
31
31
*3014 31
31%
4%
4%
5%
478
5%
5%
40
40
40'4
108
108
3434
108
35
3538
*103
114
4234
*103
43U
*91
4214
94
2658
91
26
2678
40%
108
40%
35%
43
42
91
120
*64
65
64
39
39
41%
6I4
6I4
*101
638
16i2
*16
16i8
106
113S
*101
1U2
103
1134
120
105
35%
110
42
88
90%
26%
25%
148
7%
1838
1734
40i2
*
17%
4138
41
11434 11434
115
148
148
4678
4714
47is
41
40
33g
314
12
148
*
"7%
8%
116-
115%
5334
5234
147
*147
47%
49
81
*85
89
*71
85
59i2
60
414
414
4784
48i2
*115
....
2%
212
61%
61%
60
*107l2 '108
*70
61%
10%
934
*59
934
61
61
107i2 107i2 *107% 108
414
438
4%
4%
47
48
115
*112
23g
2%
*101
*64
70
66%
103
60
*
147
2%
3634
120
*48
9%
64
62
47
115
2%
38%
44%
53%
9734
9734
10l8
10%
10
92
*9U2
234
384
3%
18%
32%
4214
234
334
*9112
2%
3%
4
2014
32l2
4212
21
21
4
77%
78
78
25%
9734
25%
26
27
10
10%
92
98%
10%
92
92
234
234
2%
334
3%
334
4
4%
1978
3218
4234
4%
20%
20
32%
32
32%
43
43
43%
20
21
21%
21%
21%
4134
41%
36
35%
42%
35%
41%
35%
42
35%
*145
'
*59
65
3278
*69l4
5634
*178
33i8
3314
1638
57
*55
79i2
58i2
214
3314
1634
57%
59
*55
32%
*69l4
5734
*1%
*29
1634
58i2
*57
*145
65
105s
22%
117
*102
/
4734
3612
107s
15U
1038
22
2258
117U *117
103
48
*12738
*103
*36
*102
48
15i2
107
33
79%
5?34
58%
10,600
11,300
14%
18,800
jm.
-
-
-
«
-
Investors^.—No par
Preferred.
J...N0
_.•
Gen Amer Trans Corp
General Asphalt
par
5
10
General Baking
$8 preferred
5
19,700
—.No par
3,000
147
30
No par
7% cum preferred
100
General Cigar Inc
2,400
61%
340
117%
72% 153,000
3,400
120%
48%
1,400
9%
4,400
54
61
4714
120
70% Jan
Oct
Jan 21
78 Jan
55 preferred
No par
Gen Outdoor Adv A
No par
Common
No par
General Printing Ink..No par
110
2,200
56 preferred
Gen Public Service
6,800
47%
Gen
117
30
No par
.No par
Railway Signal
No par
Preferred...
100
2%
68,700
Gen Realty & Utilities
39%
54%
12,300
56 preferred
General Refractories
7,800
62
26%
27%
14,400
36%
800
16%
79%
35,200
20%
87%
28,200
87%
44
44%
5,900
54
54
1,700
5
5
58
5
6,000
4,350
1,100
1,900
1
July 29
Oct
3
5378 Jan
6
118
Jan 27
18% Jan
534
Jan
2
3
106
Jan 10
8,500
101% 102
100%
10
10
93
z90
75,200
7
par
$6 preferred
19% Oct
90
Aug 21
20% Oct
9
5
88 78
8634
39%June 11
55U Jan 14
52% Sept 18
55
Gobel (Adolf)..
Oct
378 Jan
_
2
1
$5 preferred
No par
Sept 11
21% July
8
87
2
Jan
8% Apr 28
100
77
2%
18,000
4,900
Graham-Paige Motors
.1
Gr'by Con M S & P 2d stpd 100
2
3%
3%
3%
3%
4,000
Grand Union Co tr ctfs
3i8 Apr 30
5,500
Preferred
1
21%
21
21%
21'
21%
25,600
Gt Nor Iron Ore Prop .No par
41%
35%
42%
41%
42%
41%
42%
22,300
Great Northern pref
35%
36
35%
*145
147
*145
65
*55
65
*55
33%
34%
34%
*69%
57%
80%
33%
*69%
58%
2%
34%
'
*69%
59%
2%
34%
*30%
16%
16%
16%
58
62
62
58
126%
2%
16
58
126
59%
17%
62%
58
61%
108% *107
„
EL 900
34%
77
M
•
.
-
-
23,600
61%
2%
(W T).
No par
No par
..No par
100'
Western Sugar..No par
Preferred
100
Great
-
300
120
35
5,100
16%
62%
3,400
300
124% 125
320
Mar
Mar
4612 Nov
Jan
Jan
30
Sept
Feb
•
1038 Nov
63s Nov
18l2 Nov
76
200
10%
10%
7,900
21%
2,400
Hamilton Watch Co
103
*102
103
20
119
48%
48%
*127%
16%
16%
108%
107
49%
-
-
W
-
8,300
.....
16%
8,500
108%
130
4
Jan
9
Jan
2
No par
14
.100
109
May 19
Hanna (M A) Co $5 pf_No par
100
June 22
Harbison-Walk Refrao.No par
Preferred
100
120
Hat Corp of America cl A
6)4% preferred
1
100
12
Jan
3
3
Jan 20
1041/) Feb 17
Apr
4912 Deo
143s May
434
7i2 Mar
1534 Mar
70
Apr
Apr
Apr
2i2
20
22
Jan
Nov
14i2 Dec
26%
Jan
92
Jan
10i2 Deo
85
Deo
Mar
5
Oct
Jan
265a
Jan
Deo
119
Jan
21
Apr
25% Nov
2858
Dec
Jan 23
34
95
Deo
95
Feb
0i8 July
140
60
Miy
in 0
7
1
Feb
74i2 Nov
234 May
Mar 19
19
Feb
43 U May
4
4
Mar
8
8
9
6
Apr
1U2
34U
12
Mar
33i2 Nov
48
Mar
3% Feb
1984 Mar
June 10
Feb
1*8
14912 Aug 14
593a Aug 10
3458 Oct 9
63
Jan 24
235s
16
62i2 Oct
30% Jan
19i2 Aug
Aug
93
2i8 Mar
35i8 Deo
3478 May
7
Jan
Jan
70i2
958 Mar
2
6
Nov
9U Mar
9
39
33
Mar
51
8
80% Jan 27
30
12
Oct
Dec
Feb 21
Mar
24
10
Apr
3i8
39i8 Deo
33i2 Deo
22% Sept
2
Preferred
3
May 21
4834May 11
DgJuly 7
25
Jan
1634
14
109
2934 Jan
3538 Nov
38I4 Sept
136
25
34 Apr
1434 Mar
Oct
4l2 Nov
4D4 Deo
143s May
18i8 Mar
283s Jan
7% preferred class A
Jan
80
109
26
9% Jan
30% Jan
Hall Printing
120
Us Mar
155s Mar
Deo
4258 Nov
8
100
Hackensack Water
34
Dec
6I4
Sept
44
105
Nov
21
Aug
47
39
100
120
Mar
3
4i2
No par
Preferred
Jan
10
*107%
358 Nov
7
Preferred...
72i2 Oct
zl20% Deo
5938 Nov
li4 June
July
Gulf Mobile & Northern... 100
Aug
Aug
Apr
514 Mar
2i4 Mar
7
65
Gulf States Steel
Aug
4% Feb 19
III4 Mar 20
63s Jan 15
235s Jan 15
35% Apr 2
6
Copper... 100
Greyhound Corp (The)
.5
Guantanamo Sugar..—No par
Preferred
100
July
96
2
Apr 28
6
25% Aug 31
79% Sept 21
3178 Apr 15
104
Sept 16
12% Mar 11
Jan
22
Greene Cananea
265s Mar
Oot
Nov
July
10% Feb 17
Jan
1
Oct
21% Jan
32% Jan
16
Jan
116
Nov
61U July
145l2
407a
3778
U2
15i2
July 27
7% Feb 28
31
Green (H L) Co Inc
36
20%
4
9
36
-
Apr 29
24% Aug
28i2 Jan 16
6
34
*117
6
Jan
34
119
16
6
50% Mar
36
11%
21%
Jan
June 30
138July
Green Bay & West RR Co. 100
.--
65
60
*58%
126% 126%
48%
*127%
16%
16%
33%
77
*55
'
Mar
7
No par
No par
Gotham Silk Hose
3,400
2
Jan 24
6
3%
*102
2
3678 July 25
13%June 25
2%
19%
6
6
4)4% conv preferred.—.50
Glidden Co (The)
6,300
150
5
4
Feb 21
70
634 Jan
3
118% Mar 14
378 Jan 21
30% July
Corp No
Gillette Safety Razor. .No par
Conv preferred
No par
Gimbel Brothers
No par
Goodyear Tire & Rubb.No par
1st preferred
..No par
90
Feb
Gen Time instru
2,900
_
10%
638 Feb
63% Oct
3%
22
22
21
22%
21%
21%
*117
119% *117% 119% *117% 119
514 Mar
Jan
5434 Oct
2%
11
Jan
100i8 Sept
48i2 Deo
2212 Nov
Zl3% Oct
146
Aug
6
74
36
73g Mar
115
93l2
30
No par
*32%
Jan
32% Mar
IIS4 Mar
June 20
30
No par
No par
11%
8434
Feb
Gen Steel Castings pf..No par
Gen Theatres EquipCrpA'o par
43%
34
Doc
Deo
175s
43
Goodrich Co (B F)
361*'
Deo
1078
7
Oct
25
28
6
5312 Sept 21
1078Sept 21
50
48,800
78
12234 July
3% Apr 28
32% Apr 28
24%
10%
Deo
53s Nov
oi2 Mar
%
Aug 24
110
27%
78
70% Jan
Jan 17
24%
77%
27%
36%
Nov
55
4/•?
1314
20i2
2
Apr
26%May
33% Apr
32% Apr
17
July
No par
Nov
305a Nov
Mar
7
72% July 27
105
27%
10%
7
12712
Oct
62
6% Sept 30
12% Aug 17
13% Jan 21
36%
70
126
434 Mar
Aug 21
123
Feb 17
3%
*3%
59
3618 Nov
Mar
15
19
Oct
Oct
150
38
No par
35%
30i4 Apr
17U Mar
112% June
43S Feb
2%
35%
Deo
Deo
4
9
59i2June 20
Gold Dust Corp v t c
*90
15
Sept 10
150% July 29
1134 Jan 11
19% Oct
Jan
116
.10
Grant
*107
Oct
17
100
Corp
Conv pref series
Granite City Steel
48%
Jan 23
534 Jan
No par
Preferred
General Motors
600
62
60%
36
General Mills
3,600
103
1034 Apr 28
140
3,800
*102
6
100
7% preferred
45%
48%
*127%
16%
5
52
32
*32%
Feb
No par
45
*55
63
7
General Cable
125S Oct 9
10412 Apr 21
3434 Feb
141
,
Class A
Jan
30
111
105% Aug 27
21
July
978 Mar
78 May
I8I4 Jan 27
Deo
603s Mar
1984 Mar
738 Aug
42% Apr 30
5
General Bronze
10,100
1,500
97
No par
~~7~506
7%
19%
105i2 Aug 27
8%May 20
Goebel Brewing Co
10%
17
300
60%
26
Gen Amer
19,500
36
107
13J0O
19%
31%
57
16%
GannettCoInc cony$6pfNopar
12%
44
59%
107
No par
19%
32%
57
16%
(The)
11,800
10%
107
Gamewell Co
334 Jan
ll%May 11
7%
9%
2
48%
290
75
53% Feb 29
26%
35
103
16%
^A-.No par
32
2
48
Gabriel Co (The) cl
Feb 20
4738 Jan 17
14%
*19
34
*102
2,000
Feb 17
31% Apr 30
6%
19%
2%
*127%
Fuller (G A) prior pref. No par
$6 2d pref
No par
44
59
48%
1,050
July
13%
36%
103
41%
6%
63
127
35% Feb
23i2 July 15
*135
Apr 14
ll8i2June
6%
33%
34%
124% 125
32%
32%
60
100
43%
20%
*1%
1634
L10
13%
24%
100
32%
16%
For footnote* eee page
33%
*69%
59
*12738
1534
107i2
65
7%pfl00
Freeport Texas Co
6%
99% 100
9%
9%
91%
9214
2%
2%
3%
3%
4
3%
*145
*55
33%
79%
58%
2%
32%
17%
5934
*11812 124% *119
124%
*32
34
*32l2 34
*36
35%
>
F'kln Simon & Co Ino
111% Apr 21
3884 Feb 17
43% Sept 18
9734 Oct
30%June
213%
23%
77%
19%
31%
99%
4034
*145
23%
1
w
Preferred
107% 107%
4%
4%
88
23
w
Aug 21
24% Apr 30
9534 July
Dec
Feb
70%
53%
4%
23%
78%
25%
Fourth Nat Invest
106
Jan
984
5978
61%
117
44
77
9,600
10
63g
18
*87%
24%
80
26%
100
...No par
3038
Jan
Jan
88%
78
2,800
conv pref
Preferred
Feb
2U Mar
1584
53%
2478
41%
4%£ %
Foster-Wheeler
5
Deo
687s Aug
Oct
45
23i2
100
June 26
25i2 Dec
10278
81
53
634
13%
250
12,300
No par
Corp new..10
13ig May
July
3
88%
44%
6%
137g
23%
2014
t Follansbee Bros
Food Machinery
Deo
114
19% Jan
53
634
13%
47% Mar
Florshelm Shoe class A.No par
1,100
Aug
Sept
No par
45
6%
19
32
300
8,600
39%
Deo
25
58 pref class A
88%
14
3734 Aug 31
325s July 31
1134 Mar 2
z24% Jan
4514
18
*87%
44%
13%
2318
30i2Sept 25
25% Mar 21
3% Aug 29
29,700
100
lb
16i8 Mar
28i2 Mar
16
Apr
Oct
20
.684
84i2 Apr
443a Nov
10
Preferred series A
First National Stores..No par
Fllntkote Co (The)
No par
Jan
Feb
50
20%
14%
33ia Feb 11
10512 July 17
4834June 23
Firestone Tire & Rubber
110
4i2 Jan
318 Aug
July
78
70
19%
634
135s
2318
77%
24i8
9734
100% Feb 26
40
Apr 30
400
2,700
100
8i2
2
*63
28%
5%
6%
13%
24%
78%
1(J6U Mar
63^% preferred
9
384 Mar
Mar
19%
4%
40i8Septll
11378 Apr 22
578 Mar
5% July 24
8
18%
5%
49i2 Feb 14
12l4 Mar
Apr 28
11
19%
5
39i2 Oct
Apr 30
20% Jan 27
50
3
Oct
18%
5%
May
Oct
79
5
95
71
36%
15%
5i8
6%
54
71
15%
5%
Aug
Apr
9
4
6
3
79%
53
72
IOH2 Oct
Apr
Apr
3
14%
■
z85
40
38
7,700
36%
215s Nov
Jan
6
Jan
77
53
538 Mar
48
Mar
Jan
14%
44%
92
Deo
.
19
77
87
5234 Oct 9
27% Sept 21
99U Aug 11
15
39i2 Deo
(125
Deo
14
14%
53
Dec
No par
7634
44
Jan
115
No par
1434
8634
Mar
17
6
57 pref class A
78
53
4
7
Conv pref series A ...No par
78
87i2
4414
Oct
Gen'l Gas & Elec A
35%
14%
53
18i8 Mar 25
7034 Oct
200
35s Deo
80
78
44
Nov
5s Mar
40
35%
1434
*85
Doc
6
68,900
35%
19-%
40i8
Apr
3%
2634
19i8
May
2
584 Mar 25
70
60
19i2
69V8 Mar 30
10% Mar
15
49
63%
35%
100
Jan
814 Mar 19
43*8 June 22
26%
35U
1414
Preferred
Aug 10
14
1578 Aug 10
4078 Jan 8
3338 Feb 18
60
*77
37
7i2 Deo
19% Deo
13i2 Deo
1478 Aug
34i2 Apr 30
26
1434
Federal Mln & Smelt Co.—100
Jan
684 Mar
No par
60
7858
84
55% Nov
66%
61%
36
No par
7
3%
107% 107%
4%
4%
*35
Preferred
Nov
5
No par
26%
37
o
Federal Light & Trao— —15
122i2 Jan
31% Feb 24
1834 Apr 30
65
8
Oct
General Electric
5878
*35i2
14t2
*76i2
19%
100
Rlco_20
14i2 Feb
15% Mar
*63
117% 117%
70%
70%
119% 120%
49
48%
10
*9%
60
—100
6% conv preferred
Fajardo Sug Co of
Deo
Nov
I8I4 Sept
66%
3%
*61%
63%
27%
Preferred
2%June 3
8% Apr 29
3434 Jan
Sept
814 Nov
50
29
General Foods
25%
53%
7
2
3
178 Aug
66
134
Mar
34l2 Oct
15,300
52l2
57l2
26'8
5334
Jan
438 Jan
58 Apr
5234 Jan
12534 Jan
1% Mar
14
Deo
6884 Nov
78 Jan
4% Aug
7ia Mar
8% Mar
84,800
51
53
12
23>8 July
June 30
75s Feb 21
40%
36
54
97
48%
36
26-'8
89%June 30
4
48%
35
37%
6
Jan
3I84
Mar
% Mar
66%
61%
*60
Jan
5% Apr 7
11
Apr 30
16
Apr 29
11'4 Jan 3
6
Fairbanks Morse & Co .No par
June 30
84
55
6
25
155s Apr 17
48
Exchange Buffet Corp.iVo par
Evans Products Co
7
July 22
39%
V
80
62
100
Filene's (Wm) Sons Co .No par
""l70
148
"7%
67
*70
.
100
Feb
69
2% Mar
39
Feb
7% Aug
345a Dee
Mar
20% Jan
103
-
•25%
14%
48%
40%
81
10
preferred
Second preferred
Eureka Vacuum Cleaner
7
5
6
83s
1% Mar
Fidel Phen Fire Ins N Y
105
12%
107% 107%
4%
4%
48
47
47%
46% 46%
115
*112
*113% 115
2%
2%
2%
2%
2%
36
37%
37%
38%
35%
54
5434
54%
54%
53%
47
*112
-
3%
3%
66
117% 117% *117% 117%
71%
71%
70%
70%
120
120
120%
120%
50
49%
49% 49%
10%
59
3
69%
6%
16%
147
.
100
Firt
July 27
5514 Jan
1% Feb
378 Feb
116
Highest
558 Sept
3
5,600
69
39
12%
40
*63
*64
-
105
48'
40%
81
10
147
40%
67
IOI4
150
Erie
7i2 Jan
45i2 Jan
78
9
2% Jan
....
17%
18%
45
42%
44%
47%
*118
123
116% 120
53%
53%
53%
54%
54%
preferred
No par
$6 preferred..
No par
Equipable Office Bldg.No par
Aug
July
738 Jan
120
19
116
No par
U2 Jan
53i2July
110
2
4
25
18
3
14
7»4 Feb 21
1734 July 14
85
Federal Water Serv A..No par
Federated Dept Stores.No par
90
25%
*111
102% 102%
60%
59%
26%
25%
14%
14%
148
*121% 148
8
8%
7%
40%
3%
3
61%
*88
26%
69
12%
preferred
5% Sept 22
2
2
2
638 Jan
3284 Jan
29% Jan
Lowest
2,600
39%
43%
,
$ per share I per share
Federal Motor Truck-.No par
Federal Screw Works ..No par
3,200
4,400
110
41%
120
*101
12%
103%
•60%
26%
14%
48%
47%
40%
85
10%
105
42
*65
120% 12012
50%
5034
*64
41%
*63
61
69
42
147-
117i2 117i2
7034
71%
120U 12014
50
49%
35%
88
25%
*111
41
52%
4,700
4%
109
110
42%
88
88
26%
17%
85
7112
109
110
41%
120
17%
115
200
39%
39%
39%
*105
42%
17%
3%
6734
61
43%
*37
109% 110
35%
36%
37
110
17%
*70
117
39
:
16%
85
7D8
39
16%
69
6014
40
16%
68
116
4%
6%
"7%
23,600
110% 110%
110% 110%
29%
29%
29%
29%
29%
104% *104% 105
*104% 104%
47
47
46%
47%
46%
34%
36%
35%
36%
35%
31%
*30%
31%
*30%
31%
5
5%
5%
5%
5%
6%
*71
67i2
42%
*37
6%
*101
40%
3%
38%
52%
101% 101%
9
8%
4%
4%
9%
4%
4%
39%
43%
39%
6%
16%
12
47%
4012
700
6%
105
148
148
50
41%
*101
53
5314
49
39%
16
115
52
5234
49
11,0
40%
*
100
*97
39%
11%
4,370
6,100
208
30
*65
16
8%
18%
41%
*200
4,300
67
6%
12
148
~~7%
16
69%
99
4%
38%
conv
1
Fairbanks Co..
26
4
$6
5,910
99
8%
Engineers Public Serv
3%
14%
69%
51%
25%
5
100
3%
14%
69%
99
9%
5% Pref
3%
52
4
No par
1,300
4034
*10178 10312 *102
103% *102%
60% 6034
-59%
60% -59%
25
2538
2538
26%
25%
14%
1414
1434
14%
14%
14%
738
1,500
17,800
preferred
5%
67
60%
2558
*140
14
32
56
*5%
*111
103
5912
25U
14i4
13%
31%
38
638
1634
9,300
__
Electric Power & Light-No par
57 preferred
No par
5%
120
*111
17%
*47
108% 109%
42%
25%
65
38
*111
5
114
*88
26%
*111
31%
36%
*111
100
14,600
25%
46%
110
42%
40
500
,
94%
7%
25%
39%
29%
104%
46%
34%
109
35%
114
7%
17%
110% 110%
40%
*108
400
84
*87
215
*98
42
1,100
49%"
99
*36
50
14
15%
68%
26%
99
105
400
32
*200
50%
26
4
17%
70%
215
*98
99
1,600
6,600
31%
30%
5%
12 Jan
10,600
5%
14
5%
42% July 13
t Elk Horn Coal Corp.No par
6% part preferred
60
Endicott-Johnson Corp....50
28
14%
33%
14
31%
514
Eleo Storage Battery ..No par
1,000
56
84
28%
1378
4,600
%
2%
34
28
3034
7,300
33%
33%
29
514
72%
27%
17%
34%
28
14li
3134
31
9,300
94%
17%
33%
5 per share
6,800
48,500
*86
1734
34%
28%
Eleo & Mu8 Ind Am shares.
Highest
5 per share
16
v;' 7
17%
3334
27%
17%
2%
55
7%
17%
34%
Par
80
84
7
7%
Lowest
*82
7
634
514
•1334
2%
5%
1936
Range for Previous
Year 1936
On Basis of 100-share Lots
47
%
57
STOCK
Shares
115% *114
115%
13%
13%
13%
13%
81%
81%
81% 81%
81
86
28
47
1
*55
13%
81
34
27
47
2%
57
5%
15%
78%
71%
YORK
10,
EXCHANGE
115% *114
*82
»
5%
15%
Range Since Jan. 1
Week
$ per share
79%
72%
45%
*%
%
82
7
3312
5%
2%
82
7
*634
1734
13
13%
5%
STOCKS
NEW
for
the
Oct. 9
„
share
$ per
Sales
Friday
Thursday
Oct.
Aug
129% Sept
108
Deo
Deo
Deo
34i4July
3
2114
Jan
30%
Deo
37
4
30
Jan
35
Deo
11% Aug 20
4
Mar
8
Aug
2258 Oct
119
Feb
3
8
105% Mar 18
49i2 Oct 9
Sept 24
128
17
Oct
2320
i
6
Jan
115
9
(
6i2 Apr
63
Oot
1412 Nov
Jan
112
Deo
100i2 Sept
105
Nov
16
Mar
303b Deo
9984
Jan
121
Deo
5i2
Feb
14i8
113i2
Deo
81
Feb
Deo
Volume 143
LOW
AND
New York Stock Record—Continued—Page 6
HIGH
SALE
PRICES—PER
SHARE,
NOT PER CENT
Sales
STOCKS
for
NEW
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
the
Oct. 3
Oct. 6
Oct. 6
Oct. 7
Oct. 8
Oct. 9
$ per share
$ per share
$ per share
Shares
$ per share
6%
104
6
638
6%
7*8
678
6i2
7*8
10278 104*4
105
104i2 104i2
13512 *12584 135i2 *12534 I35i2
162
*158*4 162
*158*4 162
3484
33*2 3478
34*8
34l2
115*4
115i2 116
11578 1157g
129
129
130
130
129
104*4 105*4 *103*2
135l2 *12534 135*2 *12534
162
*158*4 162
*158*4
34
35
35l2
34*4
116
11384 *114
115*4
130
*128*2 130
*128*2
65
63*8
*104l2 105
38
38%
108*2 108*2
2634
2712
3434
6%
104
*12584
*158*4
34%
11384
*128*2
*63
$ per share
6%
35
*114
*119
*423
430
63
63*8
63
115
430
428
430
115
*115
115
41%
42
3034
*75
76
3084
75*4
65*2
75*8
65l2
30*8
75*4
*64*4
67
938
9%
52*8
623s
*334
4
4
4
4
11%
11%
1134
1134
187g
19*8
2*8
18*2
19
*1134
18*8
283g
29
28
2*8
28*2
53
28*s
527g
29
51
54
54
54
70
71
70
72
18*2
117g
18*2
127S
357g
365g
187g
12*8
36*2
2
68*2
*17*2
*11*2
345g
*125
69*4
18*2
12
35*4
129
*135
115
115*2
11
*5*2
13&8
558
135g
3%
13*4
33g
27*2
*171
56
11%
67
10*4
67*2
978
12
*1134
38%
35g
13*4
33g
14
3*2
4
28
28
29
30
32*2
172
172
172
172
17234
56*2
56*2
56
56
563g
40
40
40
40
111
*110
111
*110
*7
8
*7
8
*6*2
7*4
39*2
634
40%
185S
125S
7*2
6*2
684
7*2
52
51
52
51
26%
27
26*4
47*2
47%
48
48
25*2
74i2
26*4
2534
2534
48*4
2534
75
75
75*2
75
75
13
133g
13*4
13 *2
255g
26
13%
25*4
13*2
2578
*100
101
20
20
_
5134
.
110
7*2
*683
6*2
27*2
61
*27
40*2
110
37
-
37*4
131%
....
13*8
1334
3*2
1378
35g
31*2
3*2
13%
3l2
31*2
172
5658
575s
4038
111
2534
47*2
7
19
18*g
2
37.
130
*135
47
2634
7434
27,000
185g
2l8
28*4
5258
73*4
57*4
26*4
101*4 103i2
19*2
380
690
375g
131l2
31,400
800
~4~700
10,100
2,700
*97
45
45
*44
20*2
2078
101*4 101%
8%
8%
*8*2
20%
9
110
101*4 101*4 *101*4 101%
8*2
8%
8%
*8%
*97
101*4 101%
110
*99% 110
110
*100
110
45*2
45*4
45*4
*44%
45%
45
45
45
45
20%
20%
20*4
20 *o
20*8
20*4
20%
20%
*26
29
*26
28%
47
47
*40
46*2
17%
17*2
10
3,000
10
19%
3*8
19%
17%
18*8
17%
18%
18
111
111
111%
15%
1534
15%
15%
16
60
60
6034
61%
69
70
59*2
69*2
S34
2634
*102
103*2
103*2 103%
166
166
103
103
*165
166
166
1978
20%
20*8
41%
41
41%
49
49%
41*2
59*2
42*4
5978
106*2 106*2
2*4
2%
4%
438
40*2
*
40*2
113*4
"22%
*
23*4
145%
"38"
29%
*94%
59*2
69%
111
111
16
16*8
60
60
.
60
6934
104
68%
70*2
8%
8%
26%
26*2
105*2 *103% 104%
10434
10334 10434
8%
*26*4
105
8«4
26%
165
165
19%
20*8
20
20
1934
20
41*4
43
41
42
42
43%
165
165
*49
49
49%
49%
43
43*2
42%
58%
5734
59%
58*8
*106
107*4 *106% 107% *106*4 107% *106*4 107% *106% 107*4
2*8
2*2
2%
2%
2%
2%
2%
2%
2%
2*4
5
4%
4%
4%
4%
434
484
4%
4*2
5
40
40
40
40
40*2
40*4
40*4
3934
39%
40
*
*
*
113% *113%
113%
113%
110*4 110*4
48%
43
48*2
4234
48*2
4834
49%
43%
42%
43%
59*2
58
58%
57%
58%
42%
-
"22%
23%
23
23*8
*
145
145
23%
*__
--
-
23%
145
23%
2334
14434 145
3
Jan
Oct
8,700
3,500
17,900
40
38,600
12,300
1,200
600
1,300
230
300
500
360
116%June 29
13
Jan
2
19*4 Jan
2
Kennecott Copper
No par
28*4 Jan
7
Keystone Steel & W Co No par
1734June
4
18*2 Jan
7
No
par
No par
—.10
3%May 11
Apr 28
20*i Apr 28
30
100 jrlOl
7% preferred
Sept
4% Apr 29
100
7478 Feb 26
Kress (S H) & Co new ..No par
3534 Aug 31
1938June 30
20*2 Apr 27
Kroger Groc & Bak
No par
Lacelde Gas Lt Co St Louis 100
5% preferred
.100
Lambert Co (The)
No par
Lane Bryant
No par
..5
100
50
No par
50
Preferred
Lehman Corp (The)...JVo par
32
June 10
157g July 29
7*8 Jan 2
12
July 15
15*2 Apr 30
94*2 Apr 30
8*2 Jan
2
July
25
Series B
7
9734 Mar 13
100 xl60*4June
9
19
Apr 29
Preferred
1,800
Lily Tulip Cud Corp...JVo par
10,400
Lima Loco mot Works.-No par
Link Belt Co
13,900
Loew's Inc
..No par
Liquid Carbonic
22,100
No par
_.No par
Preferred
Loft Inc
No par
No par
3,800
Long Bell Lumber A—No par
3,700
Loose-Wiles Biscuit
5% preferred
Lorillard (P) Co
7% preferred
25
...100
10
100
257g Jan
36
July
49%
50*2
12%
48%
49%
50
50*4
51%
5034
51%
*11%
12
*11*2
11%
*11%
11%
*11%
48*2
4834
46
48*8
48
12
48*4
For footnotes pee page
48
2320
483g
6% preferred
100
Mack Trucks Ino
No par
52
25,400
1,500
Macy (R H) Co Ino
No par
11%
48
1,600
Oct
Apr
Apr
6
2
384 Mar
48*2 Aug
8
658 Mar
27
7
26
115*4 Mar
2838
Sept
Jan
3
2
2478
Jan
2
25% Mar 20
IOH4 Oct
52%
24%
Oct
Oct
2
9
3
29l2 Apr 24
Jan
8
47*2 Oct
283s Aug
1
73g
Feb
Jan
Nov
Jan
93
Nov
120*4 Deo
14*2 Deo
22
Deo
20*4 Nov
30
Oct
10*4 Aug
96
3U Mar
Mar
13'4 Mar
10
Mar
2%
_23
Oct
Mar
1103s Feb 10
878 Sept 28
103i2 Apr
1
16
36
120*2 Apr
37
Aug
99*2 Nov
126*2 Deo
84
1984 Mar
Oct
Oct
165s Sept
90
Aug
90*8 Oct
31*4 Nov
28*4 Nov
18*4 Jan
6
110
Jan
Dec
2
May
42
Jan
July
3038 Deo
21
6*8
41
Nov
Deo
Deo
27»f Nov
113
Apr
6*2 Nov
80
Oct
4634 Sept 18
28
Jan
8
22*4 May
32>s Aug
27*2
3378 Jan 31
50*4 July 13
12
19*4 Mar
46
2684 Feb
6
213s
Mar
28*2
Jan
13% Sept
1778 Oct
6
3
9
Jan
36*2 Oct
9
144*4 Oct
20i2 Oct
9
3
5
Oct
May
8*2 Mar
1058 Mar
Mar
5
llli2Sept
62
71
11*8
Oct
6
31*8 Jan 29
21% Mar
683 Sept
21
Mar
Apr
115
Jan 16
94*4
116*8
Jan 15
9384 Apr
169
Aug 19
23*4 Feb 5
43Sg Oct
9
5078 Feb 19
44*4 Apr
14*2 Deo
173s Jan
11*2
Jan
3*4 Aug
1534 Nov
9534 Nov
17*4 Jan
1
Sept 24
Jan
Dec
Aug
6
6278Septll
10878 July 17
35s Feb 11
83g Mar 24
49U Oct
1038 Nov
29% Nov
120
Aug
122
Aug
15*2 Oct
13*2 Mar
167*2 May
2884 Nov
275g Nov
17*8 Mar
2412 Mar
31*4 Feb
37*2 Deo
55*8 Nov
151*2
Jan
102
Feb
1
Mar
Jan 17
1*4 Mar
33
Apr
1
IO784 Nov
26*2 Jan 27
43
10834
25s
4%
Oct
Oct
Oct
Deo
18*2 Mar
Sept
Jan 30
41% July
112
Deo
20*2 Nov
Apr xl49i8 Deo
124
15
Deo
23
Aug
64
Deo
35
Feb 19
1234 Mar
26
Sept
May 14
42
Jan 21
3778 Nov
46
Feb
130
May
35
127*a Jan
9
27*8 Jan 30
Madison Sq Gar v t o__No par
40*8 Apr 30
8*>8 Jan 2
Magma Copper
34i2 Jan
151
130*2 Mar 16
48
6
Oct
52 78 Sept
•
113
Mar
Feb
7
1858 June
3084
8
30*2 Apr
57*4 Nov
5*2
18%
llU
Dec
37»4
Deo
14*8 Apr 18
cn
10
Oct
14
4*2 June
103s Mar
30%
12*4
4634
121
9
6
28
78 '
34
29%
5034
Mar
Jan
20*2 Deo
36*4 May
49*2 Nov
9
*34*2
48%
49
Jan
5
7
35
11*2
Oct
Jan
Deo
4%
Oct
31
48%
6*8 Mar
24i2
110
110
Oct
29%
19,000
Deo
SHaMay 25
30%
............
5
3*8 Deo
23g Dec
2878 Deo
4284 Deo
97
30*4
47%
130*2 Nov
30*4
31%
46%
5034
Deo
484 Aug
6*2 Oct
47*4 Dec
2
8
30%
*130
6558 Nov
154
4
13
20
47*4
Jan
3
100
Louisville & Nashville
46
42'4
190*2 Deo
367g Nov
Jan
t Louisiana Oil pref
Louisville Gas & El A—No par
1,900
*130
Jan
May
57*2 Jan
22*4 July
1,060
6,700
48
Jan
5
7
97
10
3
13*8 Deo
Jan
37%
Mac Andrews & Forbes
8% Oct
7*2 Deo
2358 sept
142
2934
.
87s May
70*2 June
38i2 Mar
45
96%
30*4
*34%
4634
July
5% Mar
117*2 Mar
50
Apr
113
37
*130
16
5658 Dec
Feb 21
9
29
-
129
42*4 Mar
126*4 Feb 24
119*4 Oct
May 19
21*8 Apr 28
96%
-
30*2 Oct 3
Sept 1
88
Aug 28
3934 Oct
29%
Ludlum Steel
3
107
3934
-
7
8
2
126
2
96
47
2634 Oct
103*2 Oct
2234 Apr
33g Jan
36%
29%
100
2
32i2June 3
43
Apr 21
10412 Feb 28
2
Apr 23
96%
-
9
67*8 Mar
10*2 Oct
Marl6
5
38%
4534
Oct
Dec
8
1684 July 15
12
97
Lehn & Fink Prod Corp
Lerner Stores Corp
30*4
*130
29
7638 Oct 9
19*4 Feb 17
25
1*2 Mar
96*4
4634
5878 Oct
2938 July 21
53*2 Feb 21
Oct
Jan
134 Oct
9*4 May
5*2 May
29%
4584
Oct
Jan
2
1
37
*130
934
2U2
98%
6
Liggett & Myers Tobacco...25
14,700
6
Oct
9634
46%
2
600
35
Oct
Sept
1012 Oct
19
38%
30%
68
9% Apr 29
89
May 11
2934
35
3g May
4i2 Mar
Feb
96
/
Oct
4
29%
*34
38 July
6
"37*4
35
9j
Stores—No par
Kresge Dept
May 19
May 7
50
1*8 Mar
Oct
2
25
30
6%
37S
4
Feb 28
47*4 Jan
17,300
22*4 Jan
12378 July
June
Libbey Owens Ford Gl.No par
Llbby McNeill & Libby No par
Life Savers Corp..
5
100
Jan
1*4 Mar
1% June
1434 Jan
87
700
14,900
34*8 Mar
135
18
No par
Kendall Co pt pf ser A .No par
4
2
1,500
Jan
Jan
2
400
June
22% Mar
Mar
7
Jan
4,300
26
149*2
6
Jan
387gMay
3,300
1*2 May
4*4 Mar
258 July
34
Jan 27
No par
5,300
23,900
834 Mar
96
Lehigh Valley Coal
4,000
Nov
Mar
May 20
No par
Oct
108
2i2 Feb
4
20
-
363s
46*4 Mar
80
Preferred
Deo
Nov
pf_.100
Kinney Co
Dec
Deo
5*4
July
Kelsey Hayes Wheel convel A1
Class B
1
Kimberly-Clark
Jan
Dec
Dec
121
33*4 Feb 25
Kelvlnator Corp
Jan
130
24*2 Sept 28
5
15
Dec
Dec
Oct
Jan
Kayser (J) & Co
Kelth-Albee-Orpheum
4% conv preferred
Lehigh Valley RR
3,200
2312 May
60%-Mar
109
7*2
1584
11,400
13,000
6
Mar
4*4 Mar
2*8 Mar
17
23,700
1,220
7
5
75*8May 27
39*2 July 15
100
Preferred
84 Apr
912 Mar
Apr
Kaufmann Dept Stores $12.50
Preferred
10,100
88 May
12134 Feb
100
Kansas City Southern
11,2001 Kresge (3 S) Co
^
24% Aug 14
113
Apr 29
68*2 Jan 18
96*2
*34
8
21
1038 Apr 30
29%
35
8
Apr 29
June
11 *8 Sept
96
*34
9
19*4 Jan 9
Apr 28
29*8
38
*130
49%
110% 111%
16%
1534
41*2
58
*
600
100
5*2
1384
17*2
37g
22*4
38*4
5914
Oct
9
9
9
9
96
35
46%
166
384
20*8
48%
42%
22%
23
144% 144*2
3734
3734
1,800
No par
Preferred
Oct
Sept 23
15
Mar 26
29*2
31*2
31
*34
*165
166
19%
4084
20*8
41
69%
9
8%
834
2634
26% 2634
103% 104
*103*4 104
10334 104%
103% 104%
103*2 104%
144
3%
1534
70
142
20*4
5834
834
27
1,600
Johns-Manvllle
Jones & Laugh Steel pref—100
Kalamazoo Stove Co
10
Kan City P & L pf ser B No par
Lehigh Portland Cement...25
16
69
4,000
No par
63
132
44
2
Jewel Tea Ino
Feb 21
112
May 22
Apr 27
334 Jan 7
2
1
8
37
Jan
Preferred
90*2June 12
Apr
5*2 Jan
1601
107
Jan
19,400
136
1% Jan 9
20*2 Apr 30
15
35%
36%
141% 144%
19% 20*8
3%
3%
1834
18*8
3*8
6
82
36%
19%
2*4 Jan
Intertype Corp
1
6038
'
180
Island Creek Coal
Mar 23
185*4 April!
57% Oct 8
8
400
No par
41
10
Apr 28
56% Jan
Nov
Jan
40
1534 Mar
1
10
Dec
42
July
315s Deo
Feb
15
Feb 14
495
Nov
2
18% Jan 11
5*4 Feb 14
4
578Mar 11
30
2
Interstate Dept Stores.No par
Preferred
100
Lee Rubber & Tire
60%
69*4
8%
*26%
No par
300
129
7
6
Jan
7
6*2 Mar
6*4 Mar
8
Sept 29
117
Sept 21
1334 Apr 13
778 Jan 18
10
148*2 Jan 23
234 Apr 30
4i2 Jan
43*4May 8
125*4 Feb 6
334 Apr 30
47
14,300
3%
Aug 24
11
223g Deo
73
73*4 Oct 4
19*28ept 4
13*2 Apr 17
38*8 Oct 6
2\
No par
16%
20*8
6
35*2 Jan
International Shoe
1034
128
19%
3%
17%
160
July
30»4 Dec
Jan
234
8I4 Feb 19
May 12
23
*9%
16%
17*4
Jan
118
Jan
1*2 Mar
6
29*4 Sept
543gSept
6
5*8June
11*2 Apr
2*2 Jan
9% July
278 July
2234 July
No par
12*8
12*8
16
834
Preferred... ............ 100
June
88% July
6*8 Jan
15
1,210
1934 Mar
147
50
2,700
6*2 Mar
Jan 23
135
100
200
307g Mar
6
125
100
50
338" "Feb
4
173g Feb
2
25%May 21
106 May 12
7% preferred
Inter Telep & Teleg
1,800
_
Mar
5%
4*8 Jan
International Salt
*1134
60*2
6834
27
Internat Rys of Cent Am.. 100
Certificates
..No par
550
35
8%
100
9,700
34%
*26
Preferred
Int Printing Ink Corp..No par
Preferred
—..100
17
33
111
100
48
32%
111
Preferred
Inter Pap & Pow cl A. .No par
Class B
No par
Class C
No par
30%
32
111
100
17
31%
111
No par
Preferred
Int Hydro-El Sys cl A
25
Int Mercantile Marine.No par
Int Nickel of Canada ..No par
47
31%
110
Internat Harvester
30
3114
1834
1
17
30
128
Inc
49
17
20%
3*2
18%
No par
Ctfs
30*2
16%
125
Inland Steel
Inspiration Cons Copper...20
29
17%
3%
1734
—100
17%
11*4
I684
19*2
No par
48*?
1134
125
No par
Ingersoll Rand
29
17%
3*2
11
10
17
17
3%
18%
58
100
47
*11
119*2 123
20*2
197g
100
RR Sec ctfs series A
International Sliver
10,800
Feb
33
2
Jan
Leased lines
Indian Refining
Industrial Rayon
740
54,600
658 Mar
19*8 Dec
44U Feb 20
185g Apr 30
30
27
177g
12
1
10
100
17*4
11*4
16%
.
544
100
6% pref series A
28*2
17%
*11
17*4
No par
47
28*2
*37
47%
16%
1134
1634
1634
July 3
3978June 5
22*4 July 2
65*4 Jan 14
6,800
101*4 101%
8%
*8%
20*2
Motor Car
Prior preferred
100
Int Business Machlnes.No par
800
4734
29
2634
763g
743s
12*2
1234
2558
26*2
103l2 103i2
*19
19*2
110
100
8I84
Oct
43
International Cement_.No par
800
115
5778 Feb 19
No par
2,000
3734 Aug
Feb 17
3i8June 10
8% Apr 27
13*2May
Internat Agrlcul
1,730
2
19*4 Jan 13
4834 Jan 21
....
Insuranshares
Jan
584 Mar
5
No par
3,810
10*2
104
447, Feb 19
Aug 15
325g Oct 9
3612 Deo
116
100
No par
150
Deo
49
1,200
110
131
76*8 Aug 27
70*8 July 25
12*4 Jan 15
t Interboro Rap Tr v t c..100
4,400
5758
.
Feb
73*4 Apr
7
21,100
172
Feb
Oct
122
4
Howe Sound Co.
son
June
90
6% Jan
Hudson & Manhattan
Pref erred
Hui
162
5434June
Interlake Iron
8734
88*2 25,700
200
150*8 150*8
5
458
43,400
6*2
9,600
6*4
617g
51,400
6238
200
130*2 130*2
13%
143g 111,700
558
6*4
55,400
83,000
3*4
3*8
62*4
643s 107,100
*3934
1,900
40*4
*100
50
Jan
Jan
Mar
No par
v
Intercont'l Rubber
7,100
Jan
June
t c new 25
Class A
1,000
-
*97
par
3,000
85,700
2984
101*4 101*4
9
*834
Household Fin partlc pf
Houston Oil of Tex
6% pref
....
9
Sept
119
June43
414
..100
No par
HUpp Motor Car Corp
6,400
Apr 17
Jan 13
2
Deo
141
11
80
30*8 Jan
Oct
120
Jan
71
135
108
6I2
Jan
127
142i8
Aug 13
6878 Sept 24
102
Sept 16
Homestake Mining
Class B_
Aug
37% Oct
116
108
Houdaille-Hershey cl A No
1% Mar
85
Jan 27
Jan 23
Holly Sugar Corp.....No par
7% pref
100
Illinois Central
1,300
187g
13%
30
30
30*2
*29% 2934 *29*2 2934
29*2
29*2
29*4
29*2
*12134 126
*12134 126
*12134 126
12134 12134 *12134 12412
122i2 122*2
*87
*87
*87
88
*87
88
87
87
87%
87*2
88*2
8734
122
121
120
122*4
122% 123
122% 123% *120
12134
119*2 12034
*122% 123*2 *122*4 123%
123% 123% *12212 124i2
12234 124i2 *12234 12312
117
116
117
119
119
118*4 118*2
116% 117
115% 117
119*4
43
a43
46
45
46
46't
4634
4534
46*2
4612
46*2
46*2
*117
*117
*117
*117
117*2
117% 117% *117
22
22*2
22%
22%
22*4 23"
22*4
22%
225g
22%
225g
2234
44
44
*43
43
44
44%
43
44
4434
43*2
44*8
44*4
27
27
27
27
26% 26%
2634
2634
26*2 26%
X2634
J27,
26
26
26
26
2558
2558
25% 25%
*245s
2558
*24% 255g
102
*96
*96
102
*96
*96
102
102
*97*4 102
*97*4 102
23 78
23
23
23
2334
2334
22%
22l2
22%
2212
2212
2334
*20
*20
20
2034
205s
20*2 2034
20%
20*8
20*4
20*4
20%
197g
19*2
19*2
19%
1934
19*4
1938
19*4
19*2 19%
19*2
2034
*92
100
100
100% 100%
101%
10038 10038 *101
101*2 *101
101*2
51
52
5134
5034
5134
52*2
51% 51%
5212
515g
523g
5258
24
24*4
24%
233S
2334
24*4
233g
23%
24%
237g
2334
24*8
27
28*4
28*4
27%
2734
28*2
*24%
28*2
28*2
28*2
*27*2
28*2
*5
5%
534
5*4
534
4&g
47g
478
4%
*5%
5*4
478
44
45
43
43
44
45%
43%
42r>8
43*2
45%
425g
43*2
27
27*8
26%
26%
27
27*4
2684" 27%
26%
27*8
2778
No par
$5. conv pref....
No par
Hollander & Sons (A).
5
11,600
114l2 115
103S
1058
5*4
538
13*8
13*8
3*4
3*2
13*4
137g
35g
334
31
3234
170
cum
31,700
*47
13
*19
400
587»
47
2538
900
27
26
7434
12&8
100
1,000
12
55*4
26*2
19*2
*11
27
26*2
13*2
26
2634
101*2 101*2
*74l2
8*2
50
13
1,200
30,800
978
8*4
5434
7434
300
42*4
9
734
47*2
2534
25*8
*7212
30
4U2
110
51
...
*26
25*2 26
101*4 101*4 *101*4 101*2
*20
20*4 *19*2 20
a4038
*110
10,600
30
187S
26*2
50
26%
48*4
40,100
13
53g
7
31*2
3258
3634I 37*4
1878
53g
734
No par
133S
.
172
3934
111
Conv preferred
Holland Furnace
200
73
86
88
87*4
88
86*2
85i2
867g
8734
88*2
*14938 154
*1493S 154
*1493g 153
♦1493s 15134
14934 14934
4
4*4
43g
4*8
47g
47g
5
4i2
5*s
434
6
7
5*4
5*4
534
5i2
6*2
534
6*4
6*4
62
63
6134
6234
62
62*8
6258
62*8
6278
62*4
*129
130
130
130
*129
*128*2 131
*12812 131
130*2
10
10
10*2
12*2
143g
12% 15
13*4
135g
14*2
4*4
4*2
534
4%
534
67g
6*4
67g
5*2
634
3
25g
33g
234
33g
3%
3*2
334
3*4
358
58 V 65*2
68
60*2
62
5812
63%
61*2 65*4
65*2
*110
400
8,100
11034
$7
Mar
164
Highest
$ per share t per share
Mar
141
126
2734
525g
114*4 11434
10*4
103g
172l2
5738
100
No par
73*4
73
*135
56*2
preferred
537g
172
13*2
5*2
3*2
2is
28
114*4 115
10*2
107g
538
5*2
13*4
133g
3*2
334
133g
141S
334
4
32
33*4
11
3*2
2
2734
*127
*134*2
13
1358
3%
132
'18*4
*53
12l2
38*8
37*8
1134
18*8
1938
132
132
10*2
5*2
13*4
*3*4
5*2
2*8
287g
537g
72I2
12*4
114*2 115
11434 11538
107s
11*4
127g
2
2734
*53*4
7212
18*2
19
*134
5*2
13*4
18*8
18%
1134
9
Aug 10
May 14
150*4 July 8
2512 Apr 30
Herehey Chocolate
140
6,200
4
100
600
5234
41g
527g
4
117
67*2
110
40*4
52i2
4*8
52*2
102
25
Lowest
133
4% Apr 30
25
84
58,300
384
117g
1812
2
Hazel-Atlas Glass Co
No par
10*2
53%
$ per share
No par
10*8
334
Hayes Body Corp
% per share
Hercules Motors
66
53*8
Par
Hercules Pov der
428
Year 1935
Highest
1,000
10*2
*74*2
934
Lowest
23,200
115
Range for Previous
On Basis of 100-eAare Lots
Helme (G W)__i
Preferred
303g
7478
6638
4
*129
130*8 131
76
42
30*2
76
67*2
30
700
162
*410
430
*41*2
53*4
2
2*8
31*4
23,700
135i2
115
...
2325
EXCHANGE
37*2
116
130
109
3138
37
35*2
1038
52
52*2
2
67
978
*134
1034
334
12*8
3*4
52
*65
978
9*2
29*8
*410
42*s
30*4
*74i2
66*8
42
30*8
*75
431
42
*41*4
109
*115
*410
430
4134
30%
4134
30*4
109
67g
104
*12534
*158*4
34*4
*115*2
12934
65
65
66
66
66*2
10434 105
*106*8 116
*10712
3812
40*8
39*2
40*8
397g
10412 10412 *10484 105
39
39*4
38*2 39
110
11034 11034 *109
110*2 *109
28*2 2958
26%
2738
2634
29*4
35
35*4
35*4
3678
363s 36%
114
65g
*101
<*
Range Since Jan. 1
•
STOCK
Weet
$ per share
YORK
!
01
Jan
Jan
Deo
New York Stock Record—Continued—Page 7
2326
LOW
AND
HIGH
SALE
PRICES—PER
SHARE, NOT PER CENT
Sales
STOCKS
NEW YORK
JUI
Saturday
Monday
Tuesday
Wednesday
Oct. 3
Oct. 5
Oct. 6
8 per share
$ per share
*2
*2
238
1512
1234
15
125s
*36
23g
15*8
15*8
125s
39
the
Oct. 8
Oct. 9
$ per share
$ per share
$ per share
Shares
2%
13
13
*36
16
1638
16
16*4
16
16%
207b
21
21
21
21
21
3i2
ID4
1%
8*8
8j8
29
4
11*2
1138
1&8
*1*2
*7*2
28*2
*2%
*457g
17*2
8*4
357B
9
*7%
2812
*238
47i2
29
3
3U
47
4
158
1112
13S
3l2
1138
3i2
48
<29*4
3*4
47i2
18
18l8
187B
18*4
9
9
*858
85g
35i2 36i8
35% 36
*159i2 161
*15912 161
63
64
6134
6238
1612
*46i4
16i2
47l2
*
1612
*46%
*
47
*107i2 IO884
33l2 3384
18
18
*99
101
*2214
101
22i2
395s
927g
934
43
43l2
1478
1434
102
*101
1734
8%
35%
18*4
8*2
884
36%
35%
28*2
3
Mandel Bros
11%
1,700
6,100
9,100
11%
134
8%
2884
*1%
*758
2834
3
"3",600
4%
300
60
700
3
*2%
*4578
1778
8%
35%
20
47%
18%
700
21,700
1718
*111
114
*82
16*4
84
111
10i8
IOI4
83i2
10*8
84
85
85
37l2
61%
9i8
3712
6112
37%
93g
2584
9%
263s
46
47
61
2534
46%
*
123l2
*107
109
95
96
96
96
95
95
*108
110
*108
110
*108
110
*107
109
69
578
814
2914
258
638
6
24
34
158
3i2
5bg
24
98
98i4
No par
Preferred
ex-warrs..Wo par
109% 109%
110
Prior preferred
35
35%
35%
18
18
18
18%
18% 19
*100
102% *100
102% *100
102%
23
23
2284
23
22*2 2278
3878
38%
38% 38%
38% 3834
5,600
9,200
47
101
160
-
64"
*
47
102
9%
97g
43%
47
.
34%
100
43%
14%
64%
47
*109% 110
3478
160
6334
*16%
17
4634
*
107
100
102
100
2,300
14,700
101
10%
10
44
9,000
29,300
10%
44
9%
44
95
*106
44
108
*94
*106
1,800
10,100
200
95
3,300
10
50%
*457B
46i2
67i2
Ha
4034
227B
2958
*67
1%
40
2212
29
98*2
5034
46*2
67%
1
67*2
1*8
3984
22i2
2884
%
178
4
6*4
20%
19%
8*2
29
*67
68
98
29*4
1
40
220
70
95
20
4
6
6%
1984
834
40
2284
2878
1,200
2978
3
3
7%
Z2234
97*2
7%
23%
9784
51%
97%
5078
8%
30%
734
23%
98*2
22%
45%
*45
46
68
68%
1%
3978
94
95
94
94
31*2
31%
31
69
70
70
31%
73%
1914
3312
1934
34l2
17is
17%
13
1384
30
3034
29
-
-
2O84
*103*4
20*8
*59
61
19*2
185g
33*2
17*2
133s
347g
1738
13*4
----
.
-
--
21%
59
19%
3334
18%
13%
97
52
McLellan Stores
.1
6% conv pref
Mead Corp..;....
$6 pref series A—
~
100
.Wo par
No par
No par
100
Merch & Min Trans Co.JVo par
Mesta Machine Co
6
Miami
Copper
6
Mid-Continent Petrol
10
Midland Steel Prod
No par
8 %cum 1st pref...
7% preferred
4% leased line ctfs
Corp
Mission
100
100
Mo-Kan-Texas RR
.....
*156
158
*1567B 158
26% 27
2658
2734
253s 257B
25*4
2584
110
110
*105i2 110
*108
1097B *10684 1097B
18
17*8
17*2
177g
297B 30
29*2 30*8
*28
28
2884
2884
2834 29
28*2 29
1
—AOO— -IV U—
141%
39%
39%
22%
27%
39%
22%
27%
40%
22%
287g
7,800
8,600
Motor Wheel
5
7,600
Mulllns Mfg Co class B
1
94
93%
95
31%
30
31
900
73%
72
72
1,500
*103%
2034
280
«.
58
19
18%
19
32%
32
32%
18
1734
12%
42,900
1,200
29,200
21%
5834
1278
12%
840
18
9,100
2,900
60
Preferred
No par
Munsingwear
Inc
No par
Murphy Co (G C)
No par
5% preferred..
100
Murray Corp of Airier
10
Myers F & E Bros..—.Wo par
Nash Motors Co
No par
Nashv Chatt & St Louis.—100
National Acme
1
Nat Aviation Corp.
No par
TC12%
*4*118
123g
1%
58
* t
fC
1 G. Q7«v
141*2 141*2 *140
12
*1*8
58
1214
1178
1*2
12%
*1*8
%
%
<eo
747g
745g 747b
59
60
60
6212
12334 12384 *11978 123
9
9
87g
*878
11
11
11
107g
51
51
*5014
513s
*58i4
583s
57i2 57*2
ICC
1%
%
74% 75
61*4
62%
12278 1227s
9
9
11
1078
50%
52
57
57
*1 ftd.'w
-loo— loo
141*2 *140
1178
141% *_—
12%
*1%
1%
*%
34
7434 75*2
62
63%
122% <12212
9
9%
11
1078
53
53%
57%
57%
*108
109
*108
109
108
108
*108
109
*27
35
*27
35
*27
34
*29
35
153s
6584
4714
15i2
66%
14%
15*2
66
66
48
4734
4838
52
53
94
95
5%
1412
52i2
©2*2
484
14*4
53*8
9384
*484
14l2
1484
65%
47%
51*2
91*4
5*4
484
14i2
13
15
1434
6578
4884
67
52
92%
5*4
13%
48%
50*2
91%
*434
14%
-
15%
67%
49%
51%
1-7(L
60,300
400
42,400
27,000
10
19,400
29,300
1,000
7,600
10 e
OAA
1%
1%
34
%
%
900
75%
17,000
17,200
75%
63
66
122
9
9%
74%
66
65%
*120
9
700
122%
9%
11
54
*52
*57
58
58
*108
109
*108
*27
34
*27
1484
15%
67%
487g
51%
90%
47g
66
477B
5078
91%
90
5%
1434
434
137g
14%
34
15%
16%
65%
2,500
49% 139,700
3,000
51%
9084
2,400
450
434
48%
50%
90
4%
1334
31,800
570
14
131
131
132
150
149
149
*135
147
*129
145
144
145
*135
160
*135
160
*135
160
*135
160
*135
160
*135
160
1%
1%
*96
378
103s
514
*314
1284
*8212
4
1012
5%
3%
1284
83
*100
100%
*102
105
2
2
286i2 286i2
1*4
*96*2
37g
103g
5*2
3*2
1234
82i2
100
*102
1*4
4
4
1034
11
5%
*3*4
13*4
6
13%
82%
82%
100
99
105
*102
13*2
82*2
2
2
*184
290
*290*4
*10512 115
*110*8 113
*110%
317g 32%
3184
31%
323g
55i2 55i2
55i2 55*2
55*2
8
778
8%
778
784
*103
*103%
10378 10378 104
43
437B
42*4
1%
1%
*95%
1%
4%
1134
14%
4%
11%
534
11%
*100%
3%
*3%
3%
13%
83%
9934
—
-
-
29
29%
53
53
53
23g
28s
2%
25*2
13*8
*20%
13
25*2
13%
43%
45%
For footnotes see page
2320
3%
13%
*100%
2834
*52
2%
*20*2
13%
44
534
1284
83
83
9934
9984
99*2
105
103% 103% 103
2
2%
*134
134
294% 29234 293*2 295
*110%
*110% 115
115
32
327B
32%
33%
56
56
55*2
*55%
734
734
8%
8%
*103% 105
105
103%
29%
43
3%
1234
*82%
6
*100%
28%
5284
2%
*2%
25% *20%
13%
13%
4434
43%
210
.
_
—
.
-
-
103
134
299
3%
400
13%
83%
8,700
270
190
100
30
103
2
2
400
299
302
2,500
*103% 104%
Preferred..
20
2%
25%
1334
4334
*2%
2%
25%
800
1334
14
44
44
Feb
94*8 Nov
21«4 Mar
4078 Dec
417a Dec
66
6
71
60
2
17b Feb 10
4H2July 28
U Apr
65i2 May
1 ia May
69,700
7,600
May 19
Jan
84
Jan
283s Apr 30
1518 Jan 2
11
Apr 30
70
May
1
21
Jan
7
4478May
102% July
14
Apr 30
43
15
J an
2
Aug 12
20i2May 4
12i2 Apr 30
912 Apr 30
2834 Oct
21
Jan
6
9
Apr 30
Apr 30
4
23
Mar
6
Oct
5
29*8 Oct
3
96i2Sept 18
3284 Sept 8
79i2 Aug 1
IO514 Sept 1
2234 Mar 6
61
5
263s June 30
3IS4
Feb
Dec
33ia Deo
Vis Mar
9i2 Aug
1588 Dec
1584 No^
62
Sept
1314 Mar
81«4 Nov
26i2 Deo
434 Mar
213s Nov
47i2 Oct
19i2 Jan
27i2 Jan
14&8 Dec
14U Dec
1
30
Jan
217s Feb 19
11
Apr
3478 Oct
183g Oct
14
Mar
7
4i2 Mar
15*8 Mar
9
634
Feb
22U
14H2
13i2
127b
Apr
363s Nov
Mar
Mar
15818 Dec
23i2 Dec
Mar
Sept
Sept
U2 Mar
231b May
22% Deo
11314 Nov
108
Aug
Oct
5
"u July 28
3834 Jan 9
164
July 31
30
Feb 11
28% July
11234 Mar
7
2
108
112
June
4
xl06
4*8
Jan
21
May
34i2 Nov
32i2 July
I40i2 July
148s Aug
ll2 Nov
«4 Nov
83*4 Nov
207b Aug
7738 Aug
11*8 Jan
131b Deo
4134 Oct
6H4 Deo
.26
...Wo par
Wo par
N Y Chlo & St Louis Co...100
Preferred series A...
100
Preferred
100
100
N Y & Harlem..
10% non-cum pref
N Y Railways pref
t Norfolk Southern...
Preferred
June
147b Feb 17
3
Oct 7
Aug 10
Aug 26
Jan 17
1314 Jan 24
75i2
6912
126U
1178
53% Oct 7
597gSept 4
Sept 30
43
Apr 14
I6I4 Oct 9
67U Oct 7
49i2 Oct 9
53i8 Oct 5
95
Jan
6
150
Jan 20
138
1
Wo par
Wo par
100
No par
60
1
No Amer Edison pref ..Wo par
No German Lloyd Amer shs..
50
100
Northwestern Telegraph
50
Norwalk Tire & Rub—Wo par
Preferred..
50
Ohio Oil Co
No par
Oliver Farm
Eq new..No par
Sept 29
6% Mar 4
17U Feb 17
119
Oct
5
Sept 14
2
2U Feb
5
Jan 10
99i4Sept
5
Apr 24
7% Apr 28
5*8 Feb
6
90
Jan
3
4
July
9
2i2 Jan 7
9if Apr 27
May 21
57
83
Mar 17
9
Mar
36
Mar
a?8% Mar
7i2 Jan
2114 June
43i2 Jan
109
125
Wo par
Feb 11
lis Feb 11
60
Corp part stk_. 1
preferred
100
N Y Steam 16 pref
$7 1st preferred
168
50
N Y Shipbldg
Central
Oct
Dec
162ia May
Wo par
New York Dock
North
Nov
Jan
100
Bros
Northern Pacific..
Jan
4i2 Deo
7
Feb 25
14i2 Feb 7
7i2 Feb 24
538 Feb 24
155s Mar
Sept
July
109U Aug
27S Jan
3*8 July
lli2 Deo
488 Mar
18i2 Mar
12U Mar
36% Nov
Mar
19
Dec
39
Deo
2
6U Deo
167g Deo
6
Mar
4
Mar
112
Mar
11414 Mar
%May
96
Nov
25g
99
13
16
51
Oct
100
22
69
June
Sis Mar
12
14
79
Oct
9
158
May 12
115
Oct
2
99
3512 July 27
9
Jan
2318 Apr 30
5234 Feb 6
6% Jan 6
Oct
6*8 Oct
2*8 Mar
% Mar
302
1% Aug'27
69
June
9
Deo
June
Nov
35i2 Mar
414 Jan 17
9712 Apr 7
2378July 7
50
Aug 18
12i2 Feb 21
19
Jan
6
Aug 28
12is Aug 25
2418 Jan 6
4% Mar
30
6
Jan 22
17i2 Jan 15
54%May 5
314 Nov
86i2 Mar
13% Mar
357b J&n
1% July
z20
Jan
Jan
28
Jan
2
16is
87
108
Mar
Mar 24
Jan
6i2 Nov
334 Deo
218
2
67
May
Jan
57
Aug 5
3684 Feb 20
8i2
16*8 Aug
Mar
1034 Mar 19
102
99
Mar
106i2July 21
Jan
June
Aug
May
84
139
11414 Mar
114 Deo
92i2 July
10218 Deo
2i2 Deo
2
98
107s Deo
2984 Deo
97g Mar
2
9312 Apr 23
North Amer Aviation
47.300
3
23
5314 Oct
1,100
17,300
200
«
29%
63s Nov
16U Deo
Jan
Newberry Co (J J)
.Wo par
5% preferred series A—100
t New Orl Tex & Mex
100
Newport Industries
l
7%
55
July
5934 Feb
70,200
53
*20%
103
4
4i2 Deo
1784 Deo
4
105
53
7
Mar
114 Mar
7
100
*100%
28%
Feb
1
103g Apr
2i2 July
578 May
1
July
ll2 Mar
1084 Mar
44
Adjust 4% pref
North American Co
5234
4
84 Nov
25s Deo
3584 Jan
210
700
2618 Apr 14
95g Feb 21
327g Aug 10
7«4 Feb 11
2283s Apr 8
100
29%
-
Jan
37g Jan 3
197g Aug 24
Norfolk & Western
53
-
234
Nov
68
Apr
47b Mar
i2 July
U Mar
4038 Mar
117g
-
212 Aug
Mar
is Mar
84
1215s
11%
*5%
3%
13%
2934
-
31
2«4 Feb 7
514 Feb 10
6i2 Feb 8
150
t N Y N H A Hartford
100
Conv preferred
100
N Y Ontario & Western... 100
*110% 115
33
3378
3334
56
55% 56
778
•734
778
-
761b Mar 24
1% Feb 10
1% July 14
Aug 28
7,200
12,800
5,800
103
Dec
7*8 Nov
Mar l 7
4%
99
150
Jan xlllU June
378 Mar
144
4%
83%
Jan
98
168
t N Y Investors Inc...Wo par
N Y Laoka & Western
100
6
Oct
2
5,300
115
104
National Supply of Del
New York Central
634
20i2 Deo
2478 Sept
9%May 11
% Jan 8
i2 Jan 10
57U Apr 29
197b Jan 2
74i8 Jan 6
778Juiy 10
10%June 18
32>4 Apr 29
41
Apr 15
10412 Apr 7
10U Feb 4
9
Apr 30
3212 Jan 8
2784 Jan 2
17«4 Jan 2
36i2 Jan 2
3i8July 7
10%May 16
Nat Rys of Mex 1st 4% pf. 100
2d preferred
100
National Steel Corp.
26
N Y Air Brake
Jan
2i2 Mar
6514 Nov
838 Nov
6034 Oct
33% Dec
42*8 Deo
Wo par
1%
1%
*95%
99
IO84
6*4
3*2
285
10012 100i2 *100*2
28
2838 2884
53
53
5212
*2i4
2i2
2*4
*19i2 25
*1912
1234 13
127g
4
1*8
*95%
4%
11%
578
1%
1*8
*96*2
National Pow & Lt..
No par
65%
24%
Jan
13784 Jan 21
Wo par
10
9
2084 Mar
22
Apr
Dec
153s
..100
— ____100
Nelsner
109
Oct
6
Natomas Co
800
Sept 30
64% Sept 8
1214 Apr 13
9
National Tea Co
*
5
I8i2 Oct
1,300
54%
86
333s Mar
4,600
58
1078
97i2 Deo
11
Jan
3778 Apr 14
318gMay26
2,700
11
11
*52
Dec
115*8 Dec
1434 Dec
Nov
10*4 Deo
40
58
108l2 Jan
10
85i2 Mar
Mar
38
19»4 Dec
45i8 Sept
131
3
28
...
714 Mar
3384 Nov
97i2 Dec
27
35i2 June
90i2 Jan
57b May
38i2 Dec
8i2 Apr
41
2558June 11
_.
Mar
105
100
Preferred B
28
Oct
110* Sept 21
m Mar 23
100
National Lead
Oct
June
5
Wo par
—Preferred A
55
103
9
Wo par
30
Jan
Jan
2
t Nat Depart Stores
&\J\J
3218
84i2
Nov
IO6I4 June 19
6I2 Jan 6
57U Jan 17
83 Jan 7
21
par
54
Oct
153
Stamping.No
20
Jan
5%
Oct
Oct
5784 Nov
Jan
33
10*8 Mar
Nat Distil Prod
Nat Enam &
140
100
Mar 24
10712 Jan 6
10
Apr 28
luD
31,600
Feb 17
157gSept21
Apr 23
91
Deo
Nov
Nov
100
No par
3578 Mar
11
3378 Nov
156
85
No par
7% Pref class A
loo
1284
122
7% cum pref
Nat Cash Register
Nat Dairy Prod
7 % pref class B
12%
*1%
12%
10
Jan
2384 Deo
378 Dec
45U Dec
1414 Nov
1161s
Ji« July 15
....
Biscuit
140
-
141
12%
1*2
%
74*4
National
June
Dec
Nov
6OI2 Jan
Mother Lode Coalition. No par
Motor Products Corp
No par
4
136
10
85
Morris & Essex
190
6,400
30%
2834 30*4
29% 30%
30% 31
29%
155
155
155
155
158
1567b 1567B *155
28
28
28
2734 28%
28%
2834
28%
25*2 26
25*2 257B
25% 26
25% 26
112
*110
112
*110
112
*110
*105*2 112
*10634 1097B *10634 10978 *10634 1097B *10684 1097B
18
1778
18%
17%
17% I77g
17*2 18
2978
29% 30
29% 30%
30%
29% 30
*28% 31
28*4 28*4
28% 30% *2884 30
28
27% 28
2734 28%
28*2
28*s
28*2
*100—lOtf'g
IU6
20
6'4 Mar
2384 Mar
Dec
178 Dec
6018 Mar
79
Rights
2978
100
Mohawk Carpet Mills
Mar
May
978
Sept 16
Aug 10
512 Jan 6
14i2 Jan 2
2
Sept 15
100
Mar
3
109
16>4Jnue 10
100
3
II84 Feb 14
llli2 Oct
1
20
May
I2I4 Deo
Oct
30
Sept
19i2 Nov
66is
5
Jan 31
II8I2 Jan
46
2i2 Oct
334 Mar
share
214 May
10
13H2 Mar 30
Feb 21
Wo par
Preferred series A
t Missouri Pacific
Conv preferred
Oct
Feb
% June
per
485gSeptl0
No par
......
24
1
6U Apr
Highesl
S% Mar
8U Mar
Apr
1
21%
59%
67gMay 22
30 May 13
3H2 Jan 9
405a. Jan 6
584 Jan 3
zl7% Apr 30
215S Jan 9
z65
t Minneapolis & St Louis.. 100
Minn St Paul & SS Marie. 100
Feb 28
4988 Jan 24
19
Mar
par
101
1284 Jan 2
97% Jan 10
55U Jan 31
88
Minn-Honeywell Regu.Wo
5
108
110
6% pref series A
No par
Minn Mollne Powlmpl No par
Preferred
No par
Mar
Mar
10
5012 Apr 8
110% June 15
•35% Oct 8
19
Sept 19
7
9738 Jan
100
69
_
7
85
Aug 6
8% Apr 30
3784 Jan 3
11% Apr 29
Monsanto Chem Co.
10
Mont Ward & Co Inc. No par
Morrel (J) & Co
No par
73%
*103%
20%
59*2
18%
32%
17%
12%
9
Oct
200
*30*2
2
Feb 24
Milw El Ry & Lt 6% pref. 100
1
? 94
95
7%
22%
Jan
38%
*68
22%
31*2
.
11,300
30,800
5,100
24,100
2,800
3,500
74,400
Feb 13
45
Mclntyre Porcupine Mines..6
McKeesport Tin Plate. Wo par
.6
Mar
55
3
June 19
No par
Apr
Apr
13U Mar
64l2 Oct 6
2H2 Feb 28
Sept
June 16
pref
3
684 Mar
1284 Aug
318 Mar
10i2 Mar 18
3084 Apr 6
4i2Mar 18
5034 Mar 5
19i8 Mar 5
12
Jan
29
43%May 4
1312 Apr 30
i2%May
conv
23
share I
7S Feb
per
4
46
16
$3
37« Feb
1712 Feb
13i2 Oct
67% Jan
23U Feb
37*8 Aug 13
161
Aug 12
92
McKesson & Robblns.
$
Ills Jan22
6% Apr 28
27% Apr 27
1537b Jan 17
JMcCrory Stores Corp new-.l
1
27
69
8%
3,400
5
6% conv preferred
100
McGraw-Hill Pub Co -.No par
69
28
9334
2034
8%
30%
3%
734
2278
97%
53%
May
29
1
2278
31
*103*4
20*4
60*2
I884
33*2
17*8
13*8
52
51%
X45%
39%
22%
27%
730
46
46
1
500
6
3
72
61
4
3
95
21
6
2,500
1,000
2,000
7S
134
20
3138
61
6
17,800
73
34
134
*3%
*5%
307g
8%
29%
278
7%
71%
*103%
20%
20%
59
60*4
1834
19%
34
31%
18
18*4
13%
12%
73
78
1®4
3%
20
94i2
*10314
205s
73
7B
*1%
3%
834
19%
8%
2984
3138
*69
8%
June 30
103
Melville Shoe..
3,900
7,800
24,500
7,100
41
..No par
Mengel Co (The)
7% preferred
320
7
2
2
32%May 27
14% Apr 30
17%May 4
2U Jan 3
8% Apr 30
1*8 Jan 7
6l2July 27
1834 Jan 10
2% July 7
No par
5,100
*108% 110
834
72
68
1*8
39*2
22%
28*4
23
73*2
*34
5058
*457B
-
8%
No par
McCall Corp
6,800
108
94%
*108% 110
9
8%
*1%
*3%
27g
7%
23%
9884
51%
46%
24
98*8
5038
534
Marshall Field & Co...No par
Preferred
72
%
1%
No par
May Department Stores.-.10
Maytag Co....
No par
....
63%
17
4634
17
47
95
72
100
100
,
900
64%
17
*108% 110
87g
*3*2
20*4
8*8
2884
278
7*8
23*4
20*4
8*2
29%
278
7*2
8*8
2884
234
612
2384
497s
*45i2
8*2
69*2
*34
134
158
3*2
57g
20
20
8I4
2884
258
83g
69*2
84
69
34
1®8
3i2
20
8*4
Prior preferred
2d preferred
Marlln-Rockwell
8,600
1,000
*160
'
8%
8ls
68I4
«4
15g
♦3%
5%
100
1634
63%
107
109
*107
Preferred
47%
160
*101
*__.
1
130
160
'
16%
26
Marine Midland Corp (Del).5
Market Street Ry
100
Mathleson Alkali Wks._No par
Preferred
100
34%
1412
Manhattan Shirt
Maracalbo Oil Explor
Martin-Parry Corp
15
1484
Sl4%
1434
14%
1478
103
*101
1027B 103
105% *101
105%
16
16
15%
16*2
16%
16%
16%
15%
15%
111
*10912 114
*109% 114
*109% 114
*109% 114
84
85*4 8784
87% 88%
8884 8984
89% 91
10
10
978
934
10*4
10*8
934
10%
10%
82
85
85
86
83
83
81
83
82%
38
38
38
38
38
38
*38
40
37*2
61
58
59*2 60*2
60*2 60%
5834
58% 5834
9%
9%
97g
9*4
9*4
9%
9%
9%
9%
26
263g
2578 26%
2684
26% 27
26% 27
45
47
46
46
45*8
46%
45%
4578
4634
*
123
123
123*2 123*8 123*8 .123
12234 12234
103
No par
$ Manhattan Ry 7% guar. 100
Mod 6% guar
100
6,300
10834 109
18%
102%
2278
3884 39%
98
9978
95s
934
433g 43%
1,100
3,200
*
18
7% Jan
9
47
34
1% Jan
100
4
47%
18%
87g
3534
$ per share
100
357B
47
223g
15
47*2
18%
8
*234
*4578
*99
98*4
97g
4358
95s
43%
14*4
•
34
15
20%
11%
*1%
*7%
*28%
*2%
47*2
1778
87g
$ per share
Preferred:——"—..
15%
20%
15%
20
4
4%
11%
134
8%
2934
Par
J ManatI Sugar..—
37«4
15*4
Year 1935
Lowest
Highest
13%
13%
Range for Previous
Lowest
1,700
1,860
*35
1936
10,
EXCHANGE
16%
20
11%
134
28%
3
1334
3784
*35
3
234
16
4
*1%
*7%
48
234
17
1534
11*4
8%
28*2
109
234
15%
*13%
20
4
11*2
I84
47
*_
al09~
22%
3934
96
95l2
978
*46*2
101
22l2
38l2
40
102
47
10834 109
337B
343s
1734
18*4
15%
1934
4*4
36%
160
160%
6334
64%
165g
1634
16*2
47*2
284
16%
13%
3784
15
39
*35
Range Since Jan. 1
On Basis of 100-share Lots
STOCK
Week
15%
1284
125g
*36
39
15
Friday
Oct. 7
$ per share
*2
.2%
Thursday
.
Oct.
Mar
9U Mar
I6I4 Oct
55
738
102
Deo
Deo
Nov
101b Nov
99
Aug
2514
52i2
2U
32i2
14U
27U
Deo
Deo
Jan
Jan
Deo
Deo
Volume
LOW
AND
New York Stock
143
HIGH
SALE
PRICES—PER
Record—Continued—Page
Sales
SHARE, NOT PER CENT
for
Saturday
Monday
Oct. 3
Oct. 5
$ per share
$ per share
.
Thursday
Oct. 6
Oct. 7
Oct. 8
Oct. 9
$ per share
$ per share
$ per share
Shares
19
19%
19%
19%
*107
110% *107
110% *107
12%
12%
12%
27%
28
28%
134
*133
18%
*133
18%
18%
108
111
108
58
58
60
*11434
....
17%
8%
12%
28%
*133
18%
17%
108
106
60%
*11434
59%
*114*4
141
13984 141
17
134
142%
143
17
17%
9%
19%
17
8%
8%
17%
9%
17%
9
11
9%
19%
11%
38
37*4
5384
53%
27% 28%
*133% 136%
37%
38
37%
17
9%
*150
152
*150
g£%
27%
53%
27*4
152
15%
15%
15%
12*4
12*4
2%
57%
12%
12*4
2%
58
79
97%
12%
26%
3
*41*4
28%
6*8
8
12%
•
2%
m
..
64
93
93*4
4%
4*s
6%
*6%
38%
20*4
40%
40%
46%
45%
*112%
*46
*112% 116
54%
63%
6%
*5%
41
42%
105
*101
*86%
*2534
53 %
*5%
43%
*102%
88
*86
26%
14%
10%
10%
39%
39*4
*25*4
14%
10%
39%
*5034
52%
*52
*97%
98
*97%
14
*5
5%
*9
9%
2%
89%
2%
88
*81
43%
,516
39
.
2%
19
91,800
7,000
Paramount Pictures Ino
First preferred
12*4
26,200
26
3%
41%
Second preferred
Park-Tilford Inc
Park Utah C M
42
42
27%
6%
27%
6%
27%
6%
8
8%
1134
2%
8
3%
42
28%
12
1134
2%
11%
94
4%
7%
46*4
4%
7*4
48%
1,300
30,800
20*4
20% 20%
21% 21%
21%
22%
22% 22%
41
40%
40% 40%
40%
40%
40%
40% 41%
46
46
46%
46% 46%
47%
47%
46%
47%
116
*112% 116
*112% 116
*112% 116
*112% 116
55
54%
53%
56%
55%
55%
56%
57%
57%
6%
*534
6%
6%
6%
*534
6%
6%
*534
44
44
44
45*4
45% 46
44% *43*4
45*4
*101
105
*101
105
*103
105
*102% 105
105
88
*85
86
86
86% 86% *84
86%
86%
26
26
26
*25*4 26
*2534 26
*25%
26%
15
14%
1434
14%
14%
14.%
14%
14%
14%
11
11
11
11%
11%
1034
11%
1134
10%
40%
40% 41%
41%
40%
40%
41%
41%
41%
52
53
52%
5I84
52% *50*4
52% *51% 52%
%
634
684
40*4
'41%
98
*93
4%
7%
43
9%
2%
90%
12%
*11
85
*81
91
12
12%
83
83
83
44%
4484
44%
45%
2%
89
2%
19
*2
16%
22%
22%
7
2%
9%
4
44%
45%
8%
8%
75
11%
2%
.....
19
19%
7
834
75
13
2%
29*4
*8
49%
44*4
*11%
12*4
*68
75
*2%
*16
2%
17
19%
18%
19%
78
80
*20%
21
*101
19
107
5*4
24%
5%
25
119
*102
72%
7%
3434
50%
*47%
45
*11%
71
119
110
73%
*185*4
2%
19%
7%
*2%
*17%
99%
37%
2%
16%
16
16%
22%
23%
4
7
2%
10%
4%
43%
22%
2234
634
2%_
10%
3%
y38%
47
47
46%
118% 119% *118%
47
46% 47%
12*4
*11%
22%
23%
7
2%
11%
4
25*4
*110
31%
56%
*58%
26
111%
32
*ioi
51%
52
26%
111
*31%
26*4
111
32
66%
61%
56*4
57%
62
62
*9
12
28
*27%
28
For footnotes see page
734
30
.
.
.
.
.
7
7
2% -—2%
334
11%
3%
18%
19
109%
95*4 95*4
17
17%
16%
16%
10%
11%
*88% 110
73%
73%
8
7%
34%
34%
47% 48*4
"266
100
170
540
300
18%
43%
47%
120
47*4
10734
119%
138%
158
113
65%
19%
20*4
18*4
....
40
......
100
22,000
85,800
900
96
18%
21,400
16%
16%
10*4
11
3,700
113,000
18*4
20%
2%
10,400
12,000
1,000
700
*26
par
100
No par
5712 Oct 7
712 Feb 19
46i2 Aug 10
104is Aug 29
88
Aug 7
26i8 Sept 24
18
66
Phoenix Hosiery
Preferred..
6
7*4 Apr 29
68 May 29
3818 Jan 6
100
Preferred
100
Petts Ft W & Chic pref—100
Pittsb Screw & Bolt—No par
U2 Jan
2
6
7%June 8
35% Apr 28
176
49
6% preferred
Pittsburgh United
14
100
-..1
——100
25
Preferred
Feb
3
7ij Apr 30
Pitts Steel 7% cum pref
Pitts Term Coal Corp
Procter 4
88
2
68is Jan
7
2
No par
3
13
Mar
Oct
II2 Apr 24
11% Jan 6
20 May 18
100
Gamble
No par
5% pf (ser of Feb 1 *29) .100
of N J
No par
85 preferred...
No par
6% preferred
100
7% preferred
—100
8% preferred...
100
Pub Ser El 4 Gas pf 35.No par
Pullman
Ino
No par
Pure Oil (The)
—No par
8% conv preferred
6% preferred
Purity Bakeries
No par
Quaker State Oil Ref Corp .10
Radio Corp of Amer
No par
No par
12
200
Real Silk Hosiery
130
4
9%May
9
16is Oct 2
9«4May 12
83is Jan 2
68i| Apr 28
5
Jan
2
28% Jan
35is Jan
6
3
Preferred
7
4
10
100
Rels (Robt) 4 Co .....No par
Reliable Stores Corp...No par
200
11%
26
91%May
Jan
800
26
36% Jan 2
16
Aug 21
103 May 1
Jan
1,000
26,500
27%
7
37
2%
64
Jan
39
17%
20*4
18%
*8*4
112
60
70
11%
Apr 30
40%Mayl2
117 Sept 23
39
Apr 29
103is Feb 21
11318 Apr 3
128
Apr 4
146
Apr 14
—60
preferred
12
*60
100
100
18
400
1st
preferred
100
Remington-Rand....
...1
$6 preferred
25
Prior preferred
25
Rensselaer 4 Sar'ga RR Co 100
Reo Motor Car......
...6
Republio Steel Corp...No par
6% conv preferred
100
6% conv prior pref ser A. 100
Revere Copper 4 Brass.....5
Class A........
Preferred
...
10
.100
Reynolds Metals Co...No par
5H% conv pref
100
Reynolds Spring new
1
Reynolds (R J) Tob class B.10
Class A
10
Rhine Westphalia El 4 Pow.
Rltter Dental Mfg
No par
97g Jan
68
Oct
Oct
2
1
99'8 Sept
2
41s July
8
1678 Apr 30
77
May 4
78%May 4
10
Apr 20
24i4June 9
90
Apr 28
22isMay 25
105
Apr 27
25 July 3
60
Apr 29
58% Sept 16
10*4 Jan 3
2
*8 July
31
Apr
7
Mar
26% June
172
1
Mar
Apr
Mar
Oct
9
41U Apr
3*4 Feb
4
6
1
April
44*4 Oct
3
49
2
122% Feb 26
49% July 22
113
July 15
130
July 14
144% July 14
164
July 14
114
Apr 1
65*8 Oct 8
247b Mar 20
133*4 Apr 17
117% Mar 27
19 Sept 24
17% Sept 21
14% Jan 17
108%June 18
80 July 15
9% Feb 19
38% Apr 14
50*4 Oct 3
49% Aug 11
Oct
5
Feb 17
3*4 Jan 14
22
Jan 14
21% Oct 6
23*4 Jan 15
99*4 Apr 15
24*4 Jan 23
114
Apr 15
8% Mar 25
26*4 Feb 19
121
Oct
6
104% Oct
21% Oct
5578 Oct
1
9
9
138
Oct
1
34
Feb
5
117
Jan 13
Feb
5% Mar
22% Mar
8
16*4 Jan 30
Oct
Mar
July
10%
1%
24%
67s
Jan
Apr
Mar
2*4 July
Jan 17
Jan
Mar
Mar
3
5
88
19is Oct
19is Feb
Feb
50
2
2
17b Apr 28
12%May 7
Aug 21
17ls Aug 21
77
Oct
35%
5%
53%
13*4
5
6
16
Deo
Apr
Mar
Aug
4
Nov
64
Mar
38% Mar
7
45
32%
39*8
116*4
43%
34% Nov
64*4 Deo
23
2
Oct
9%
5% Aug
30*4 Nov
14
Deo
Deo
Deo
Deo
July
Nov
4*8 Nov
10
Nov
4*8 Jan
*68*8 Dec
14*4 Dec
85
Deo
40
Deo
3
85% Mar
103
July
84*4 Sept
6% Aug
19%
28%
45%
85%
37% Jan 6
1214 Sept 22
57*8 Sept 26
185% Sept 25
21
Jan
Feb
1*4 Nov
"81~
13
97a Jan 10
June 20
21
Dec
May
12*4 Mar
49% Apr
3
100
4%
8% Dec
15
2% Feb
9% Mar
16% Mar
101*4 July 24
15i2 Feb 7
4
100
Pub Ser Corp
1st
300
17% Mar
30
108*8 Oct
17*4 Mar
1% July
l%May
Jan
Mar
Mar
1*4 Mar
2
'
2,300
13,400
3
18
3% July
Jan
3
Feb
57% Apr
2% Mar
Jan 15
$3.50 conv 1st pret-No par
•5,300
"64%
Feb 21
t Radio-Keith-Orph
No par
Raybestos Manhattan .No par
Reading
.....50
390
*4 Apr
47b Oct
8% Feb
*4 July
12
Sept
101*4 Sept
14% Sept
21% Nov
6
Apr
11
17
2914 Oct
Nov
7
84
25
20
807b Deo
4
51* July 3
July 13
par
Oct
Deo
1% Dec
19*8 May
8
2
Deo
13% Oct
7*8 Mar
70
No
May
2% Mar
Mar 13
12
1
Jan
7%
21
6
100
Pillsbury Flour Mills
Pittsburgh Coal of Pa
*65
20%
11
3*8 Jan 13
Mar 13
14
Nov
Feb
...—100
Pierce Oil Corp pref
Pierce Petroleum
Aug
Nov
9% Aug
1678 Mar 13
3
9i6Septl9
2d preferred.
....
64
7% preferred
200
133%
*132% 133% *132
25*4 26%
25*4 26%
*110%
111% 111%
31
31%
30% 30*4
57
56*4
56%
56%
*8*4
9
8118 Jan
314 Jan
818 Jan
U2July
46
2%
17%
8
67
545s Aug 19
98
July 15
8,500
2,100
2,500
3% Mar
10*4 Jan
% June
6% Mar
71% Dec
7
45>2 Jan
par
41,200
18
17,100
18*4
17%
80
1,200
77%
77%
77%
22
21
2,300
20%
21%
80
107
*103
*102% 106
17,300
5*4
5%
5%
5%
25
125,200
25%
25%
M1*
119
119
119
119
1,700
101
2,000
*100% 101% 101
20
21%
3,500
*18%
19%
52
53
55%
3,800
52%
*60
49*8 Ang
116*4June
60
Preferred B
......
6*4 July
27*4 July 17
41*8 Oct 9
1918 Mar
41% Opt
Preferred
22,400
17%
2%
*17%
20%
19
820
96
12
2%
29,100
1,020
2,800
180
....
70
18%
......
142% Deo
7
lOisJune 30
25*8 Jan 7
Phillips Petroleum
Rights...—
500
2
Jan
67b Jan 28
10>s Mar 24
48U Mar 24
..
*65%
20
6
Jan 13
16*4
22*4
*11%
2%
18%
21%
Jan
16
l2*8June
Jan
Deo
111%
56
5
25
Phillips Jones Corp...No
I
90
2
56
No par
Phillip Morris & Co Ltd
10
800
Jan
3
Phila «fe Read C & I
3,500
15,900
3,300
1,020
Apr 27
251a Apr 28
21
123
2
86 preferred
No par
t Phila Rapid Tran Co
50
7% preferred
__50
200
10
Oct
*8 Oct
14,700 Plymouth Oil Co.—
5
17% Aug 28
Pond Creek Pocahon..No par
22*4
1,300
26% Mar 3
23
No par
12,700 Poor & Co class B
22%
237b Sept 21
J2
Jan 2
7
7
4,400 Porto-Rio-Am Tob cl A .No par
4% Jan 2
9*4 Mar 4
..No par —4%-jan—2 —3*r Janll
2%—2% -1,900 —Class B
t Postal Tel & Cable 7% pf 100
1034
14,300
11%
6*4May 21
12% Feb 6
4
8,900
t Pressed Steel Car
3%
No par
5*8 Jan 16
2U Apr 29
16%
12%
70%
2%
*11%
Corp. of Am
Pfeiifer Brewing Co...No
Phelps-Dodge Corp...
Philadelphia Co 6% pref
600
47,500
5
6412 Jan
.No par
5
Petroleum
11,200
35,800
Mar
100
Pet*M ilk
10,600
4
Feb 19
100
Pittston Co (The)—
*45
*65
Prior preferred
Preferred
.
500
46
12%
...100
Pittsburgh & West Va
38
109
100
Marquette
870
2
11
38
Peoria & Eastern
Pere
14,600
2%
16*4
22*4
23%
110
People's G L & C (Chic)...100
100
—100
37%
2%
*1%
2
2
Deo
5*8 Deo
31% Deo
Jan
28i4Sept29
10
Apr 1
117a Apr 2
17*4 Jan 24
Oct
June 30
37b Deo
Mar
Mar
127s Sept 29
28U Sept 8
514 Jan 23
47U Mar 10
94
412 Jan
17*4 Nov
10
June
Aug 31
13*8 Oct 3
98*s Oct 3
Mar 13
17
Deo
Nov
19
4
97i2 Feb 13
69
28*4 Jan
129
109
Feb 21
par
Deo
12
6
3
3i8June 23
55
115% Mar
70
9
73
28U Apr 29
2,600
20*8 Jan
4% Apr
7412 Apr
July
17% Sept
13% Mar
7
2
Peoples Drug Stores. .Noo par
13,300
13*8 Oct
Oct 6
Aug 17
l>s Jan
1,300
Preferred
July 16
Feb 10
60
100
7%
7%
100% 103
3634
22*4
No
940
37%
lOisMay 20
14
2084
48%
72
2320
19
3
*45
19
18%
18%
79
79
79
79
20% 20%
20% 21%
102% 102% *102% 106
534
5%
5%
684
24% 2584
24*4 25
121
120
11934 121
101% 102
101% 101%
19*4
19% 20
19%
52*4
51%
52% 52*4
133% 134% 132% 132%
26
26% 26*4
26%
111
111
*110%
30% 31%
31% 31%
56% 57%
56% 57%
*58
63% 63%
62%
12
*8
*10
11%
*26% 28
*26% 28
131% 131%
20
2*4
*48
19%
*19
77*4
47
18*4
5%
24%
12*4
*48
73%
734
19%
5%
12%
77%
99% 100%
*22%
....
1284
77%
2%
37
16
11
55%
*45
110
*2%
24%
*186
2%
34%
49%
49%
7%
34%
48*4
68
20
11
*53*4
,
*88% 110
73%
70*4
7%
7%
34%
34%
49
49%
*48
48%
73%
*17%
12
"28"
7%
6%
....
*69%
40%
40*4
46*4
47%
47%
*118%
*118% 120
120
48
46%
46*4
47%
107%
106%
106% 106*4
119%
119% 119%
119
*136%
*136% 138
139
*154%
*154% 158
158
*112%
*112% 113
113
64
64*4
65%
6434
40%
47%
2%
101*4
19*4
20%
52%
74
47
119
133
110
*45
71
*186
2%
19%
7%
2%
41%
.
2%
19%
7%
*2
1
.
12%
99
684
.
77%
37%
2%
16%
*2%
.
55%
13
99
10
30
77%
38
23%
2%
29*4
12%
7634
99
8%
75
2%
2934
11%
55%
*11
75
8%
2%
29*4
7634
12%
8%
2%
29*4
11%
....
*8
12
56
45
80% 80%
20% 21
101% 101%
13%
85
45%
45%
12
11
50%
49%
101
52%
*81
658June 20
68,300
9,600
1234
56
35
119
131
*11
85
45%
Rights
23900
12
18%
19%
2%
17
44%
17l2 Jan 13
2*4 July 7
40*4May 4
23
Apr 28
4i8 Jan 2
_
......
87
2%
83%
*69%
10%
60*4
49%
35
119
19*4
2%
88%
12%
3
Penn G1 Sand Corp v t c No par
Pennsylvania
60
5*4
10*4
2%
13
57
73%
7%
34%
50%
*47%
7%
*100*4 101
118
104
5%
10
77
12%
2%
29%
37
22%
8%
*74
*101
*46%
44%
84
*98
June
818 Aug 19
1
Penn-Dlxie Cement
Preferred series A
5,800
59
l
Penick & Ford ........No par
Penney (J C)
No par
Penn Coal 4 Coke Corp
10
23,600
*101
35*4
50*4
2%
5%
1
12%
*81
*136% 137*4 *136% 138%
*154% 159
*154% 159
*112*4 113
*112*4 113
62
63
62% 62%
18
17%
17*8 17%
109
109
109
109*4
*94
96
95%
95%
18
17%
17%
17%
16%
16%
16%
16%
11
11%
11%
11%
49%
10
5%
9%
106% 106% *106
119
119
*118%
*136% 138% *136%
*154% 158
*154%
112*4 112*4 *112%
63%
62*4 63%
19
18
I884
18%
109
100% 109% 109
95
95%
95% 95%
17
17%
17%
17%
16%
16%
16%
16%
11
11
11%
11%
35
98
6%
9%
2%
8
47%
*5%
9%
5%
9%
2%
8834
2%
88%
4%
98
*5
44*4
43% 44
463a
46%
46%
46%
*118% 120
*118% 120
46% 47
46%
47*4
*105% 106
106% 106%
7%
7
43
98
*97%
4%
10
Parmelee Trans porta'n No par
Pathe Film Corp
...No par
Patino Mines & Enterpr No
par
Peerless Motor Car
3
1,400
44
72*4
4,300
94
16%
22*4
23%
7%
2*4
10%
4%
110
11%
28%
6%
8%
11*4
6%
1
100
Parke Davis & Co .....No par
Parker Rust Proof Co...2.50
2,600
5,000
3,100
9,900
94
16%
22*4
22*4
7%
3,600
17,400
94
7%
72%
27%
3%
42%
9334
4%
99%
38%
2%
16%
22*4
23%
7%
2%
10%
4%
119
27%
3%
93*4
7
119
3%
1,100
3,200
99
4%
13%
98
12%
7,700
19,600
37%
7
13
96
2%
S16
98
-.100
13%
61%
4%
conv pref
12%
27%
5%
*185%
12%
7584
4%
96
95
12%
2%
%
61%
99
2%
300
%
38
2%
13
600
*103%
61%
99
7%
79
106
%
37%
*1*8
10
2%
S16
62
78%
13%
96%
12%
26%
8
1134
61
105
8%
6%
8%
57
12%
"l3"
6%
57
7
1,200
3%
41%
27%
6%
2%
29%
11%
*15
79
79
3%
42%
28%
2%
30%
11%
*2
79
Panhandle Prod & Ref.iVo par
8% conv preferred
100
Parafflne Co ino
No par
26
12%
2%
30
29%
11%
10%
57
*55%
*185*4
12%
12%
76
75%
2%
2%
-
1,300
60%
2%
61%
26
76
-
2%
105
1
1578 Oct
18
2%
78
Mar
152
2
4
7
3
67
Apr 28
103 July 30
7ls Aug 22
62%
Aug
1
8
678 Jan
1214 Aug
1*8 Jan
I8I2 Jan
Mar
3% Apr
Jan
11*4 Apr 30
*
80
14
140
par
Corp. .No
Mar
9
100
Packard Motor Car
No par
Pan-Amer Petr & Trans
5
92
9
3
13% 151,700
300
1234
Pac Western Oil
Oct
Jan
475s Apr
14%May
16%
1284
*2%
978 Oct
125
38
Nov
11*8 Nov
26*8 Deo
Jan
114% Mar
1641s Mar 4
I8ia Sept 18
25
20*4 Deo
107
4% Mar
22*4 Jan
5
July 22
118
414 Jan
3084 Jan
13
8
98
8
3
11
30
15
15%
12%
9334
4%
6%
3834
2
6OI2 Oct
100
Telep & Teleg
6% preferred
"~7~600
8
8U July
13%
13%
95
1138
77
152
Pacific
106
20*4 Mar 2
Sept26
9
41
July 20
58*4 July 22
2812 Oct 2
142 Sept 11
Pacific Gas & Electric
25
Pacific Ltg Corp
No par
Pacific Mills...
...No par
200
July
312 Jan
15%
26
93*4
No par
No par
13
12%
76
—
13
1st preferred
2d preferred
15%
97
11%
12%
Pacific Amer Fisheries Inc...5
Pacific Coast
10
*12%
9%
8%
2
Glass
13%
234
62%
12%
2%
%
114
Jan
13%
96
*62
July 22
47
15%
79
11%
*150
152
114
June 12
114
Jan
3,500
136
7
7
Jan
4*4 Apr
11% Apr
32*4 Feb 24
2
12%
*12%
2%
79
3
54%
26%
75
Mar 25
14
2
128
139
3% July
25i8 Mar 30
1151s Feb 24
Jan
July
Co...25
5,750
9,500
7,300
per share
1212 July
Owens-Illinois
900
Highest
I per-share
70
12%
61%
4134
27%
*150
123
15%
r,5is
76
152
5434
26%
24% Apr 27
15
104% 104%
12%
13%
77
*185*4
*150
2%
62%
11%
2%
30*8
11%
'
152
13%
77
*56
9%
139
2
3,700
1,870
17
9
38%
13
7%
17
8*4
Jan
Lowest
$ per share
...No par
100
Outlet Co____
Preferred
2%
*81
7%
17
8
6,5o6
152% 153%
15%
*9%
88
460
$ per share
17 July 7
107
Jan 2
No par
100
Prior preferred
"
12%
12
*5
2%
60
*114*4
100
Otis Steel
2,600
61%
*11
1
834
60
90
24,800
111
par
__
2%
S16
12
43%
16*4
14,100
62%
85
*113s
152
151
18%
Corp(The) vtoNo
Preferred A
135
17%
110
12%
4%
6%
38%
20*4
17%
9%
20*4
1234
38%
....
Oppenheim Coll & Co..No par
Otis Elevator
.No par
Preferred
100
61
*4%
6%
40
17
19%
12%
63
20*4
39%
17%
9%
20%
12%
37%
53%
*114*4
*133
18%
108%
60%
12
%
62%
93%
40
60
150%
9
135
17%
106
Omnibus
63
S16
...
60
....
149
*12%
2%
*104% 105
13%
13%
13%
98%
96% 97%
12%
12% 12%
26
26
26%
3
3%
3%
42*4
42% 42%
28%
27% 28%
6%
6%
6%
8
8%
8%
12
lis4
12%
3
234
1/2%
63
59*4
*11484
147
15
105
"l3%
....
*133
18%
105%
11,400
Range for Previous
Year 1935
Lots
Highest
Lowest
Par
"2", 700
25
79
79
60
135
17%
105
20
62
79
57
133
18%
107
20
*150
12*4
1234
2%
*
134
19
15%
12%
*12%
2%
1
19
19
19%
19*4
1934
19%
19%
110% *107
110% *107
110% *107
110%
12%
12%
12%
12%
1284
12%
1234
29
28%
30%
29%
2934
2834 29%
38*4
37%
38%
53
55
53*4
54% 54%
27% 27*4
26% 27%
26%
26%
136% 138
138
*136% 139% *137
136% 136%
Range Since Jan. 1
On Basis of 100-a/iarc
Week
$ per share
«
2327
EXCHANGE
Wednesday
20
*1258
27%
STOCKS
NEW YORK STOCK
the
Tuesday
Friday
8
10% Deo
78% Nov
8
Nov
1*4 Deo
38
Nov
127b Aug
44*4 Aug
180
Aug
10
Deo
55
Oct
Mar
2*8 Nov
16% Dec
3% Sept
Apr
62
Nov
June
25
Nov
2*8 Aug
6% Mar
Deo
6% Mar
J
13
"12*4
Nov
Nov
Nov
Jan
D o
1% Mar
% Feb
4*8 June
% May
6% May
42% Jan
115
Jan
20*s Mar
67b
2%
l6*s
4%
26% Deo
53*4 Jul y
121
Nov
62*8 Feb
46*4 NOV
104% Deo
73
117
Mar
85% Mar
132
Deo
Deo
100
Mar
148
Deo
99
Jan
113
July
29% Oct
57b Mar
627i
Jan
17
Dec
49% Mar
1197b Deo
65
103
June
Deo
8*4 Feb
17*4
4
13*8 Deo
Mar
Oct
35% Mar
92
Deo
1% Mar
16% Mar
297s Mar
6
Oct
36
33
Apr
Apr
3% Apr
20% Apr
30% Dee
43% Jan
43% Nov
38
Deo
11
Aug
72
Nov
1
Mar
3
Oct
8
Mar
18
Nov
7
'June
69
Aug
21% Oct
98% June
2% Mar
9
Mar
28% Mar
78% Oct
6% Apr
13
Apr
75
Apr
17% Apr
101
June
20*4 Dec
88
Nov
25% Nov
110
Mar
5*8 Deo
20*4 Nov
97
Nov
95% Nov
16
Dee
37% Dec
115
Nov
32
Deo
113% Deo
34
Sept 8
58% Feb 28
65% Feb 10
13% Jan
35
9
MarlO
43%
65%
11%
5%
Mar
68% Nov
Apr
67
Dec
Mar
13% Mar
20is Deo
Nov
New York Stock Record—Continued—Page 9
2328
LOW AND HIGH
SALE PRICES—PER
SHARE, NOT PER CENT
Sales
STOCKS
Tuesday
Oct
Oct. 5
Oct. 6
$ per share
$ per share
3
$ per share
•44%
85%
•7
IIS4
2534
*22%
31%
2*4
5%
112
14%
60%
*45*2
47
*45
46%
*84
86
*84%
86
84
7%
30%
2%
5*2
8
*7
*111
14%
30
2%
5%
2
1%
14%
1%
1%
1
3
3
3%
32%
32%
*5*4
5%
91%
334
5*4
2%
5%
*11
*25
29%
31%
25
31%
32%
10884
111% 111%
*14
14%
49% 50
32%
108
100
1%
61%
1%
3%
32%
33
31
108
111
14
49%
1%
1%
14%
62
1*8
334
34%
1*8
3%
33%
3%
34%
5%
*5%
6
1%
$ ver share
Shares
*44*2
47
100
84
*7%
29%
2%
5%
,
8
2%
5%
14
27%
29
33
460
60
33%
13,100
108% 108%
130
110% 111
200
14
50
99%
2
300
1,100
13,800
1,800
6,400
30%
12
14
1%
*3%
33%
the
14%
800
50%
99% 100
32,600
2,400
4,100
1%
14%
2
1'4%
700
61%
360
1%
61%
1%
1%
3%
33s
3%
34%
34%
35%
11,200
4,100
17,500
5*2
91%
5%
90%
5%
91%
4%
81%
28%
17%
25%
94%
7%
14%
61%
TO, 1936
Range for Previous
Range Since Jan. 1
IQQ-share Lots
Weel
50%
49%
99%
1%
*14%
6I34
1%
14*2
33%
108%
14
14%
49%
62
5%
11%
28%
110% 110%
100%
14%
62%
30%
2%
32%
*108
Friday
Oct 9
84
8
*25
111
100
46%
84
29%
2%
5%
11%
H84
27%
32%
108
100
14
14*8
61%
*44%
2%
5%
11
1%
3%
32%
2984
25
2
61%
8
3034
2%
12
100
14%
8
5%
11%
14%
50%
14%
100
62
62
7*2
112
50
51%
8
$ per share
88
IO884 10884
99% 100
1%
*14%
$ per share
46
31
31%
109
112
Oct
7*4
29%
*2%
5%
*11*4
*22%
30
109
7
46
85%
7%
1134
Oct
Thursday
*84
47
29%
2%
6*4
Wednesday
Year 1935
On Basis of
NEW YORK STOCK
J VI
Monday
Saturday
Oct.
EXCHANGE
Lowest
Par
$ per share
f per share
Roan Antelope Copper Mines
Ruber'dCo (The) cap stkiVo par
74»4 Apr 28
Rutland RR 7% pre!
St Joseph Lead.,
100
10
53s June
22
July
100
U2 Jan
23s Jan
i St Louis-San Francisco
__
1st preferred
100
t St Louis Southwestern...100
32
Jan
14
18
Jan 24
27
July 29
Schulte Retail Stores
1
Preferred
100
No par
t Seaboard Air Line....No par
Preferred
100
Seaboard Oil Co of Del .No par
5
Aug
11018 Sept 22
8
June
377g July 15
33
7
33
102
Deo
Apr
10
Deo
10*4 Mar
*4 June
1
Apr
6
Apr
4
4
July 21
July 27
12
Mar
8
3158 Deo
Jan 20
10434 Mar
3512 Jan
113
Feb
Nov
3
358 Mar
108
Scott Paper Co
Oct
114i2Mar 11
163s Jan 13
109
6
Jan
Feb 29
22
Mar
52
Highest
share 3 per share
82
217b
63s Mar
7% Jan
11
per
47% Sept 22
1175s Feb 19
31
No par
100
5
10i2 Feb 19
6% preferred...
100
7% preferred
100
Savage Arms Corp
No par
Sohenley Distillers Corp
5
5H% preferred.
100
Preferred
Safeway Stores
Lowest
Highest
Oct
Dec
25% Deo
2
Jan
3
Nov
14
Jan
2312 Nov
46
113*4
114%
13%
66*4
Jan
June
June
Dec
Nov
10134 Mar
7
4
4U Feb
20i2 Feb
7
7
8
Apr
6
76
Mar 31
55
Jan
91
7
7
*4 June
58 Aug
1*4
Deo
3
435s Mar 12
2034 Mar
3678
Dee
Dej
4%
Jao
9712 Feb 1
l%May 26
7%June
5312 Jan
7s Jan
2
Apr 23
3012 Aug 22
2
I84 Feb
4i2 Feb
I84 Apr
4% Nov
20% Jan
Nov
'
90
334
80*2
27%
16%
25%
*94%
6%
334
81
81
27*2
17*4
25%
95%
6%
5%
91%
92
91
4
81
80%
81
28%
28%
17%
17%
25%
9434
17%
28%
17%
2434
26
95
95
5734
57%
39%
2434
38
38
24%
24%
121% 122%
9%
10%
45
4334
122
38
24%
24%
122% 122%
9%
934
95
58
9%
44%
438
*4%
4%
29%
29%
29%
11734 11734 *117%
*54
*54% 60
95
*94
45*2
*4*4
28%
4%
29%
.
*115% 118
58
7
*91%
95
94
95
54
54*2
5434
21
21*4
22
13%
14%
14
14%
56%
22%
14%
30
*
155
*
155
"3l%
32%
"31*4
45%
23%
42%
46%
46%
24*4
24
43%
43
31%
4634
2434
4434
54
54
54
54
*9
984
*75
76*2
*104l2 106%
8%
734
26%
26%
*85
90
33%
33%
22%
2184
28%
4934
28%
49%
86*2
87
107
107
36
36
15*4
15*2
112
111% 111%
5
434
29% 30
*111*4 112
4%
;
484
29%
*21%
14%
934
9%
76
77%
155
11"
31%
4634
4534
24%
45
25%
47*2
56
57
9%
9%
*76
7734
106*2 106% *104% 107
884
8*4
8%
8%
27
27
*85%
90
*32
33
32
21%
28*2
*4934
22%
29%
51%
21%
2834
87%
88%
87%
90
108
*106
32
22
29%
51%
\88%
50
*107
36%
108
36%
15%
35%
15*4
17%
25%
95
250
22,000
7,600
13,400
400
6,200
*58
54
95
*94
54
*55
800
300
19,900
3,700
6,100
23,000
500
12,100
400
60
180
15%
36%
15%
*
155
11"
31%
46%
24%
47%
25%
46%
48
59
59
*9
9%
7784
77%
107
107
26
*
*12%
22*4
3O84
;
!
2%
20*4
7*8
34%
13%
22*2
3084
3
21
35%
12%
7%
7%
39%
35%
13*4
10
10*4
7
38%
*825
1100
4484
4034
62
47%
41%
62
18%
18%
3484
35
13
13
22%
30*2
2%
22%
30%
21
21%
7%
7%
40
7*4
7
39%
36%
12%
10%
*925
15%
*
155
"§!%
46
24%
46%
*55%
*9%
*76%
31%
46%
25
47%
58%
9%
78
107
107
26%
26
26%
21%
29%
*„..
16% 269,600
200
9,400
5,900
155
*62
*10
10%
10
*73%
9*4
*6*2
33%
89*2
9%
7*4
33%
11%
*73%
9*4
*6%
*32%
10%
*10%
30%
6*2
31%
5*2
2934
19%
22
7%
7%
3934
7%
7%
40*4
40%
36
36
37
37
12%
1284
10%
13%
10%
1284
10%
*48
47*2
4084
62%
10
89*2
9%
7%
33%
IOS4
*925
3
1100
784
7%
10%
*925
30*2
3%
22%
7%
7%
4158
37%
13%
10%
1100
46
47*2
46*2
47
41%
62%
42
40%
42%
62%
10%
*62%
10*8
65
*73%
9%
85
*80
85
*6*2
*32%
*1084
7
10
9%
33%
11%
*28%
51%
30%
2%
22%
5*2
29
30%
3034
30% 30%
5%
5%
5*2
29
29
29%
19
19
19%
19%
19*2
104*4 104% *102% 104% *104
104%
30%
9%
6%
*32%
11%
29%
5%
10%
9%
7*2
33%
11%
30%
5%
28% 29*2
1834
19%
104% 104%
4
*48
22%
65
1334
1884
.
22%
65
1534
10
51
23%
14
22%
65*2
13%
19
18%
17
16%
I8S4
17%
10*2
10%
11
66
14
*109% 110% *109% 110%
*48
23%
66%
13%
18%
51
48
48
2384
68%
23%
68%
24%
69%
14
14
14%
17%
1834
1634
16%
10%
10%
10%
109% 109% *110
16%
18
16%
10%
Silver King Coalition Mines 5
Simmons Co
No par
8imms
Petroleum
10
Skelly Oil Co
25
Preferred
100
^
Sloss-Sheff Steel & Iron
18*2
47
48
65,900
*57*2
58%
600
9%
77%
10*8
1,700
*107
90
77%
108
7%
26%
*85%
32%
8%
26%
90
32%
21%
29%
80
63,100
1,900
..-.--
800
45.700
2,900
180
6,000
200
4,500
85,500
20
2.100
18%
34%
13%
*13
21%
30%
2%
21%
7%
7%
41%
36%
13%
22*8
30%
22
30%
*925
37%
14%
10%
36%
13%
1100
44%
41%
*62%
10%
85
9
7%
33%
11%
46*2
43*2
63%
10%
85
9%
7%
33%
11%
7
10*8
*925
87
9
7%
*32%
11%
*47
23%
68%
14%
17%
50
50
984
31*4
39
*15%
*95
3%
7%
10
31%
39%
16%
97%
3%
82
82
48%
48*2
7%
7%
*9%
10
10
31
31%
31%
734
7*2
38%
15%
7%
10%
31S4
39%
1534
38»4
15%
39
15%
38%
15%
39
97
97
95
96
95
96
3%
82%
48%
3%
8234
82
3%
82%
48*2
48*2
49
384
83%
48%
3%
£3%
48%
*9%
31%
334
For footnotes see page 2320
7%
10%
31%
15%
7%
10%
31%
38%
15%
94%
3%
*84
48%
48%
124U Sept 15
14i2 Jan 25
45*2 Oct 3
6
Mar
Sept 29
4*4
Oct
3184 Mar 30
132
Apr 11
75
Apr 17
6*2
Jan
25
Jan
7
Feb 20
2312 Jan
2:
1234 Apr 27
1
160
Mar 26
Jan
Jan
132
25% Oct
20
13,300
31,700
10,000
5,100
100
7,300
2,700
......
7
7
7
July
21%
7
15
July
II84 Feb
6
5
Mar
63%June
12
3384 Deo
884 Nov
70*2 Nov
1st preferred
100
Spang Chalfant & Co Inc pflOO
Sparks Withington....No par
Spear & Co
l
S5.50 preferred
No par
Spencer Kellogg & Sons No
Sperry Corp (The) vtc
Spicer Mfg Co
No
par
1
101i2Mar 18
584 Apr. 30
678
Jan
4
735sJune
10
2934 May
1
157s Apr 30
42
Apr
59*2 Apr
3*8 Mar
3*4 June
78*2 Sept 17
112
Aug 13
934 Mar
27
6
Oct
5
84%Sept
3684 Jan 25
31
7*4 Mar
8*2 Mar
33*4 Feb
2
24ls Aug 4
3084 Sept 19
44
Jan
22
5384 Mar 20
Spiegel-May-Stern Co..No par
6^% preferred..
100
63
Mar
13
9034 Oct
99
Mar
12
Square D Co
No par
Standard Brands
No par
Preferred
Stand
par
No
Coram
par
Tobacco
l
133s Jan
2184 Apr 27
143s Apr 19
1207| Jan 10
9i2 July 29
Sis Apr 30
9i2 Jan 3
2484 Apr 28
2634 Apr 30
t Stand Gas & El Co...No par
Preferred
...No par
$6 cum prior pref
No par
$7
cum
Stand
prior pref
No par
Investing Corp..No
Stone & Webster
No par
t Studebaker Corp (The)
Sun
1
Oil
...........No par
Preferred
.100
Superheater Co (The)IINo par
Superior OH.....
Superior Steel
Sutherland
..100
Paper Co
Sweets Co of Amer
10
(The)...50
Swift & Co
25
Swift Internat Ltd
.No par
Symington Co
Class
No par
A
...No par
Telautograph Corp...
6
Tennessee Corp
5
Old
3234 Jan
48
7
109
Aug 27
39*2 Oct 9
72
43% Mar
IOD4 July
18
Feb 24
12% Sept
129
Feb 24
122% June
2% Mar
1% Mar
1»4 Mar
484 Mar
Pacifio
Ry
Mfg
Co. 100
...Nopar
33.60 conv pref
1
1,400
100
Third Nat Investors....
600
Thompson (J R)
Nov
4
Dec
10
Deo
60
Deoi
Mar 12
3
36
28iz Apr 28
li8 Jan 3
678 Jan 2
634May 14
65s Apr 27
28% Jan 6
6
7i2 Jan 6
9%June 30
Jan
July 15 1375
Feb 18
2
49
Mar 25
834June 16
Oct
9
8%May 23
Jan
1434 Jan
10058 Jan
48
24*8 Oct
Transamerica Corp
11
Twin
440
City Rap Trans. .No par
Preferred..........
100
4
4
83%
48%
84*2
49%
3,400
2,000
Ulen & Co............No par
Under Elliott Fisher Co No par
9,400
Union Bag &
Pap Corp.No
par
147b Jan 2
103sMay 19
7% Jan 3
93
Jan
I095g Sept
47b Jan
7% Apr
22i2June
313s Apr
8%May
65U Jan
278June
74%June
38%May
6
15
6
30
1
27
20
22
44%
61
5
Mar 11
5
Jan
Mar
29
Nov
13% Mar
1% Mar
Apr
7% Mar
84
69
2
Mar
16*2 Oct 2
98% Sept 18
85g Jan 20
30
29
99
21
52% Feb 19
Jan 13
Jan
17
Oct
41
Oct
Oot
10% Deo
June
Feb
2
Nov
2
5*8
12
32% Mar
12%
16
110
lll%Sept
8% Sept
107s Feb 18
Deo
Deo
1
2684
4%
28%
47b
7*4
5%
17b
7
72*2 Feb 18
1434 Feb 25
2758 Apr 4
17% Oct
Jan
28% Deo
100
60
52,300
6,000
13,300
23,500
9%
884 Deo
30*4 Deo
36% Feb
9% Oct
12% May
May
6
Apr 27
Apr 30
33% Deo
1% Nov
6*4 Deo
5*4 Apr
61% Jan
2% Mar
7
66
15%
3
Sept
50
Oct
10
Tlmken Roller Bearing.No par
95
6
Deo
9
22% Deo
Dec 1075
14
Apr
13% May
Feb 28
12% Jan
Tlmken Detroit Axle
15%
Apr 30
1050
12>4 Aug
25
14U Mar
8*2 Mar 23
3984 Feb 25
19*2 Oct 5
106it Mar 3
26
2
Mar
30% Deo
3% Dec
62*4 July 27
110
32% July 81
94
4
16% Mar
2884 Apr
3*4 Jan
8% Jan
8
2
20th Cen Fox Film Corp No par
Preferred
No par
1*4 Apr
6*4 Sept
July 21
44
Jan
Mar
177g Oct
3*4 Mar
15
Sept
32*2 Dec
*4 Apr
39% Aug 25
1514 Feb 29
14% Mar 6
47g Jan 21
io
1%
5
8
337b Apr 27
39,100
21,500
Truscen Steel
Apr
10*4 Mar 11
43'% Oct 9
2458 Jan
Tri-Contlnental Corp. .No par
6% preferred
No par
Preferred called
Truax Traer Coal.....No par
Mar
zll
6
3
No par
Nov
121
3
5
Transcont & West'n Air Ino. .6
Transue A Williams St'l No par
77
Jan
357b Jan 30
3i8 Oct 7
2334 Oct 7
93s Jan
10% Nov
60% Mar
13i4Sept 29
25
18% Deo
15% Deo
11512
July 27
658 Jan 4
20% Apr 28
Mar
6% Mar
2*2 Mar
2*4 Apr
1534 Oct
91
12484May 15
40*2 Mar 18
684 Mar 12
8U Jan
Tidewater Assoc OH...No par
Preferred...
100
Tide Water OH........No par
36
2134 July 27
3U Jan
2384June
41,700
9,900
2,400
68
1% Mar
3% Mar
l
Thompson Prods Ino...No par
Thompson-Starrett Co.No par
33.50 cum pref
No par
1,100
23,500
Oct
4*8 Jan 28
1284 Jan
5312 Jan 28
24i2 Apr 16
125gMar 5
9*2 Feb 18
34
Sept 23
12*4 Feb 14
5,900
19,500
3,500
3,300
76
25
400
700
7
8
*Oct
59
Co
Feb
Deo
32i8 Nov
19
85
Deo
Nov
Deo
Dec
52%
8
Jan
40%
33%
Aug
Deo
32
2
28
11%
26%
28%
2%
Oct
Jan 11
Jan
Deo
9% Aug
12% Mar
5834 Jan
Jan
33
Jan
Apr
12%
4034 Oct
May 18
Jan
19%
130
9
Mar 19
9% July
No par
100
Preferred
78 July
2734 Mar
Oct
105*8 Nov
Mar
2
23
Mar
Oct
Nov
35% Mar
118Jan
.No par
The Fair
6
15%
48
84
20
2
3
Oct
36*4 May
18% Dee
23
Jan
27
Nov
70
16i2 Apr 30
14% Jan 2
918 Jan 6
-.—100 1000
&
Jan
Deo
8*2
40*8 Feb
3084 Oct
23sMay 21
8i8May
Deo
8*4
6
2
Mar 27
51% Jan
2434May
107
Dec
2
No par
Conv preferred A
Third Avenue
70
Nov
25% Dec
16% Jan
8
par
Thermoid
500
Deo
27
684 July
Spalding (A G) & Bros.No
5,500
.
152
Oct
Thatcher
60
Feb
1058 Mar
1284 Mar
6% July
Oct
Texas
200
0«fc
28% May
48
6,500
2,100
Nov
1534 May
59
4,600
63*8
10%
87%
30
112
3
65
1,600
68*2 Deo
20
32i2 July 28
4758 Oct 7
Preferred..
No par
Convertible preferred
50
Stewart-Warner.
5
33,400
95,400
70% Nov
Apr
107%
7*2 Feb 29
35*2 Aug 28
Sterling Products Inc......10
Sterling Securities cl A .No par
16,300
Mar
10% Aug
July
Jan
Mar
4
Apr 27
Dec
13
17
3% July 29
Apr
24
12%May 20
114
19%
20*2
1834
46-% Nov
15*4
4
Deo
Nov
Jan
6
Mar
111
60
28*2 Jan
Feb
July
16*2 Deo
20*2 Dec
116% Deo
6512 Deo
Jan 31
Jan
6,000
..........
Mar
634 Jan 15
4,900
3,700
46*2
43%
40
5i2 Mar
63% Mar
8% Feb
21
Texas Pacifio Land Trust...
39
3
Jan
58.800
39
15%
95%
4%
84%
2
Oct
Jan
14,600
7%
10%
32%
7%
2434
19
14
10%
31%
Apr 30
34
Texas Corp (The)
25
Texas Gulf Sulphur....No par
Texas Pacifio Coal & Oil
10
7%
10%
31%
34U
Dec
100
..........
7%
50
29%
25
2,000
50
3*4 Mar
40*2 Nov
Sept 25
10
Standard Oil of New Jersey.25
8tarrett Co (The) L S__No par
14,600
83,300
15,300
23% 23%
68% 68%
14%
14%
17%
18%
16%
16%
16%
16%
10
10%
10%
10%
110
110
*109% 114
July 12
41
Aug 14
110
534 Nov
60
Apr
Standard Oil of Kansas
7%
23%
68%
14%
17%
97%May29
8% July 15
Mar
Jan
47% Feb
7%
43%
37%
30%
29% 30%
5%
6%
6%
5%
28%
31%
30*2 32
19%
18%
19%
18%
103% 103% *103% 104
9
Mar
Feb 26
11,200
30%
Dee
3
127b Deo
2584 Nov
Aug 21
10,200
9%
7*4
33*2
11%
17
7*4 Mar
2
22
1100
45*2
42%
*62%
*10%
75s Mar
5
Mobile & Ohio stk tr ctfs 100
10%
42%
Nov
6
35
3
3
21%
7%
July
70
28% Oct
8U2Sept2l
par
30%
3
4% Nov
Standard Oil of Calif ...No par
Standard Oil of Indiana
25
100
13%
22%
22%
7%
7%
42%
100
697b Nov
46,300
28,900
1,400
66,500
2,200
15,400
24,300
1,900
9,000
18%
34%
Southern Railway..
Preferred
Mar
1*8 May
40
Apr
1334 Mar 17
97b Feb 17
24% Sept
56i2Sept
6334 Sept
334 Jan 17
35
*12%
25
..100
31
5
72
150
Southern Pacific Co
7
105
100
Preferred
Southern Calif Edison
Oct
2
26
47,700
58,300
92% Oct
458 Feb
2?i
4OI4 June 30
21
Sept 1
Sugar...No par
"61600
Jan 17
32
1934 Jan
z3%June
1912 Jan
112
7
17% Oct
7
Jan
884 July
54
South Am Gold & Platinum..l
25
13
484 Jan
6578
Solvay Am Invt Tr pref...100
So Porto Rico
89
4318
30U
1434
110%
100
No pa
24
21
312 July
695s Jan
234May
61%May
1558 Jan
Ills Jan
2034 Jan
100
preferred
(A O) Corp
31%
18%
35%
10%
7%
47%
25%
21%
21%
21%
28%
29%
29%
50
50
51% *50
61%
88
89
90
90%
89%
90%
106% 106% *107
108*2 *107*2 108%
36
35*2
36%
37%
37% 39%
15
15
15%
15%
16%
15%
21%
100
31*2
46%
24%
21%
29%
22
Conv preferred
Snider Packing Corp...No par
So cony Vacuum Oil Co Inc.. 15
70
*50
30%
2%
3
22
No par
2,500
8%
35*2
13%
22%
Shell Union Oil
23%
32
*13%
...No par
Conv preferred ser A-No par
Sheaffer (W A) Pen Co-No par
22%
16%
8
19
No par
Sharpe & Dohme.
22
90
18%
No par
2138
14%
32
35
Sharon Steel Corp
35 conv pref
Smith
*85*2
1834
No par
5,500
90
35
__i
...l
(F G)
55*2
32
13%
22%
1100
46%
403g
18%
3434
*13%
Preferred
Servel Ino
Shattuok
95
0
19
1
54
*124
126
126*2 *124
125%1 *124
126*2 126% 126*4
125% *124
10
10*4
10*4
10*4
*9%
9%
9%
10%
10%
10%
10%
10%
8
8
8
7%
734
784
7%
7*2
8%
7%
7%
8%
24
23
24
23%
23%
23%
23% 2334
23% 24
23%
23%
52
53
51
50
51
52
53%
52%
52%
521?
51%
*51*2
69
61
59
60
59
60
6034
60%. 61%
60*2
57%
60%
*2
2*2
2%
*2%
234
234
2%
2%
*2%
2% ; *2%
*2%
37
38
36
38
37%
36%
36%
38%
37%
37%
37%
38*4
39
38
38%
38*4
38% 39
38%
39%
38%
38%
38%
38%
*24
28
28
*28
29
29
2734
2784
2784
*26*2
28% 30%
65
62
62%
62%
63%
63%
64%
64%
64% 65%
63%
63%
40
40
40
39% 39*2
4084
40%
39%
39% 39%
38% 39
72
76
72
75
73
72%
72*2
72%
7234
74%
74% 75*2
3
3
3
3
3
3
3
2%
3%
2%
3%
3%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
50
*47
50
50
*47
*47
5034
*47*2
*47% 50
*47% 5034
2034
21%
21*2
20%
20%
2084
21%
2034 21
2034
20% 21
19
19*4
18%
19%
19%
19%
19%
18%
18%
19%
19%
18%
15%
15%
15*2
15*2
15%
15%
15%
15%
15%
15%
1534
15*4
*79
78
79
77
77
79
79%
79%
81%
76%
77%
78*s
123
123
*122% 125
*12212 125
*422% 125
*1221?
*122% 125
36
37i
37%
36% 37%
36%
37%
37%
38
37*2 38%
36*4
4
4
4%
4%
4%
4%
4%
4%
4*2
4%
4%
4%
18*4
Second Natl Investors
95
*124
34
Sears, Roebuck & Co. .No par
95%
32
*85*2
No par
56
8%
734
Seagrave Corp
55
56%
21%
15%
*111% 112% *111*2 112% *111% 112%
4%
434
4%
4%
4%
4%
4%
30
30
30%
30%
30%
30*8
30%
*
27
28
18,500
1,600
112
434
29%
26*4
*85%
21%
14%
80%
800
94%
7%
7%
58
58
58%
*38
39
38%
38%
23%
24%
23% 24%
123
123
122% 123
10
10
9%
10%
43% 44%
43%
44%
4%
4%
4%
4%
30
30
29%
30%
117% 117% *115% 117%
7%
59
56
81
24%
*94%
7%
10
10%
45
44*8
*4*4
4%
29%
29%
117% 117%
*54
*4
28%
17%
25%
17
58%
38%
38%
24%
24%
121% 121%
60
21
55*2
*
6%
4%
*80%
28%
*57
12234
10%
44%
4*4
2934
118
56*4
*94
4
81
7
38
5*2
90%
4%
92%
27%
57
2434
44
4
2434
9484
684
*
!
91
2734
17%
25%
'
38
9134
4%
4
81
27%
17%
24%
*94%
6%
56%
57
57
5%
Jan
Mar
Mar
Mar
Mar
8% Nov
26% Nov
5
Deo
28
Deo
15% Deo
104% Nev
48
Deo
13% Deo
72*2 Nov
14
Deo
Mar
15% Nov
Mar
16
Mar
Apr
8% Nov
97% Nov
3% Oct
3% Mar
Aug
24% Oct
2% June
67b May
8% Nov
24%%Deo
33% Deo
12% Nov
18
73
13
Mar
1% June
63% Mar
29
May
Deo
Deo
5*8 NOT
87% Dee
50% -Jan
Volume
AND
LOW
New York Stock Record—Concluded—Page 10
143
HIGH
SALE PRICES—PER
SHARE,
NOT PER CENT
Monday
Tuesday
Wednesday
Thursday
the
Friday
Range Since Jan. 1
STOCKS
Sales
NEW
Saturday
YORK
Oct. 3
Oct. 5
Oct. 6
Oct. 7
Oct. 8
Oct. 9
Week,
$ per share
$ per share
$ per share
$ per share
$ per share
Shares
98%
97%
22
2I84
13934
97%
9838
983s
98%
28%
29
25%
2534
16
1638
2834
25%
16%
"29"
29%
98%
21%
2238
139% 140
"29"
98%
29%
25%
16%
29~
98,%.100
22%
22%
139% 140
98%
29%
25%
yi5%
1%
98% 100%
22%
22%
138% 140
30
29%
29%
26%
15%
138
15%
24%
15%
138
1%
28%
*26
29
2834
28
27% 27%
27%
*112% 115
*112% 115
28
88%
89
89
89%
89
90%
9034
91%
31
31
31
31
30%
30%
7%
30%
30%
4638
46
1438
14%
2334
2334
104
*103
6
6%
48
48%
77
78%
15%
15%
111
111
734
7%
46%
15
14%
14%
14%
,14%
23% 24
24%
24% 25
*103%
102% 104
*102% 105
6%
6%
638
6%
638
48
48
48%
48%
46%
77%
7934
79%
10%
17%
18
18%
18%
18%
*98%
99
98%
98%
2%
*97%
2%
234
234
15
15%
15
15%
15
30
30
30
30
30%
99% 101%
17
17%
-
54
54
35%
4%
353R
434
11%
113S
98
98
5034
51%
1038
9%
18%
18%
99
80%
80% 80%
16%
16%
15%
112
*111% 111%
12%
12%
12%
18%
18%
18%
97%
97%
238
*2%
15%
31%
14%
15
313S
31%
4%
16%
54%
35%
434
16%
54%
35%
4%
2%
16%
53%
35%
4%
11%
11%
11%
98
95%
51%
9%
11%
95%
52%
*94
10%
10
36%
54
34%
4%
llSg
97%
51%
35%
10
10%
36%
52%
46
46%
14%
14%
14%
25
24% 24%
105
*104% 105
6%
638
6%
47%
46% 47%
100%
100% 101
165% 16534 *166%
16%
16%
5234
46%
100
100% 102
*16534
*165%
79%
15%
15%
15%
15%
15%
111% *111%
111% 111% *111
12%
11%
11%
12%
1034
10%
*2%
80
8
738
25%
15%
1%
*27
28%
27%
27%
*112% 115
90
89%
*30% 32%
8%
7%
16%
53%
35%
4%
97
97
*2%
2%
14%
14%
31%
101
*166%
31%
101%
-
25%
15%
1%
28%
27%
1538
1%
31%
27%
112%
89% 89%
31
79
80
16
15%
111% 111%
12%
12%
18%
18%
*96
98%
2%
2%
14%
15%
31
31
101% 101%
53%
54
35%
4%
36%
53%
36%
95
97
36%
95%
52%
10%
37%
52%
10%
36%
87%
52%
11%
37%
88%
86
71%
76%
86
87%
86
87
90
88%
8534
87%
85
88%
86%
88
87
86
87%
71%
71%
71%
72
*71%
72%
71%
71%
85%
71%
73%
75
74%
75%
74%
75%
74%
75%
74%
77% 188,800
*160
164
*160
164
*160
164
164
6%
139% 141
161
6%
638
*160
6%
6%
94%
*80%
82
93
93
82
93
*81%
6%
7,300
610
127% 127%
*72
74
73%
*122%
8%
*6
3
3
8%
8%
8%
*1634
17
35%
35%
115% 115%
7%
8%
*6
17
35%
115
7%
42
41
*1834
3434
41*4
19
6
6
98%
98%
1334
14
62
63
1%
1%
500
1,300
440
12,400
9,300
4,500
2,900
19
*18%
19
35%
35%
534
*34%
36
5%
5%
62%
60
1%
8%
31
30%
2434
25%
7
7
7%
40%
81%
40%
81%
*80%
104
*105
107
*96
100
*120% 122
*113% 114
11%
10%
21%
22%
*2
2%
104
*105
•
-
6%
60
31
•
5%
-
1%
9
138
1%
858
9
Ofiln
Oft
Art/
25%
30%
25%
7%
7%
*1%
40%
1%
40%
12,800
7%
8,000
82
103
105% 106%
99%
99%
20%
21%
238
238
6%
6%
6%
6%
89%
8934
88*4
90%
88%
88%
47%
46%
89%
46%
7%
90%
45%
46%
46%
149%
149% 150%
149% 152
151% *151% 155
28
29%
28% 2834
*37
38%
38%
*37%
*25
26
25%
*24%
35
35
35
35%
153% 153%
155
28%
29
37%
37%
25%
27%
*38
155
28%
38%
120
*102
120
*106
120
*106
28
27%
8%
80
89
90
45%
45%
149% 150%
*154
27%
156%
28%
*38
38%
35
*102
8%
6%
2%
6%
26%
*86
28%
3%
99%
32
32%
104% 104%
*106
120
32
32
104% 104%
15
15%
4%
4%
4%
27
27%
26%
27
29
3%
3%
8%
8
8%
26%
3%
8%
*80%
56%
29%
26%
3%
3%
8%
82%
3%
8%
81%
57%
3%
8%
81%
57%
30%
76%
79%
80
80
54%
29
55%
29%
55%
29%
29
56%
29%
74%
76
V4%
75
74%
75
74%
74%
74
77
66
6634
66%
66%
64
65%
64
125% 131
67%
66%
124
67%
128%
134
*67
41%
20%
135%
*66%
130
67%
132%
69
67
67
41%
42
42
32% 32%
104% 104%
22%
22%
130% 132
67%
41%
67%
42%
*41
42
57%
30%
67
67%
41%
43
15
4%
30
75%
67%
124
68%
42%
21% 22%
20%
21%
20%
20*4
20%
20% 20%
20%
153
145
147%
146
*143% 146
149*4 *143
149% *142
51
51%
50%
51%
51%
51
51% 51%
51*4
61%
51%
83%
84%
8458
84%
83%
84%
83%
83
83%
83%
82%
*113%
*113% 117% *113% 117% *113% 117% *113% 117
*113% 117%
38%
38%
38%
39%
38%
39%
39%
40%
39% 40%
40%
8
8
8 j
7%
7%
7%
7%
7%
7%
784
7%
*143
For footnotes «ee page
2320
7% 1st pref
100 xllO% Feb 17
40
VIck Chemical Co...
.6
Apr 30
72 May 6
Vicks Shr & Pac Ry Co comlOO
84
Sept 2
6% non-oum pref
100
preferred
15
4%
68
2,700
109
Apr 27
May
4
70
100
120
,100
t Wabash
100
Preferred A
100
Preferred B
No par
No par
Co
100
No par
6M% preferred
t Walworth Co
Walk (H) Good & W Ltd No par
No par
Preferred
Ward Baking class
Class
A ...No par
No par
100
B
Preferred
6
Warner Bros Pictures
t Warner Qulnlan
No par
No par
Warren Bros
No par
53.85 conv pref
Convertible
No par
No par
pref
Warren Fdy & Pipe
5
Waukesha Motor Co
..No par
Webster Elsenlohr
—100
1
Wells Fargo & Co
Wesson Oil & Snowdrift No par
No par
Conv preferred
West Penn El class A..No par
100
Preferred
lOOf
6% preferred
West Penn Power
Aug
8
Aug 31
2l4 Aug 21
5
Jan
2
4is June 29
9i8 Jan 7
Apr 30
115
Aug 17
5% Jan 3
26i8 Apr 17
1778 Apr 17
10% Jan 4
30
2is Apr 29
473s Jan 2
9i4 Apr 30
44
Apr 29
%June 18
4% Jan 2
15% Jan 7
21
Apr 30
19i2 Apr 28
eisJune
9
83
May 26
1
Aug 21
335sJune 30
78
Feb 25
91% Jan
7
96
Jan
2
87
Feb 20
100
116ii Jan
100
pref
preferred
6%
2d
100
Maryland
100
preferred
Pacific.........-100
100
Preferred
.
5% pref
30
Wheeling & L Erie Ry Co..100
100
6
1,350
2,200
24i2 Mar
168
July 10
75s Mar 26
93
Aug 28
Apr 24
6i2Mar 18
23s Jan 18
50
Jan 19
No par
56
5
No par
100
Wrlgley (Wm) Jr (Del) .No par
Yale <fc Towne Mfg Co
25
Yellow Truck & Coach cl B.10
6H%
preferred
Radio Corp
Zonite
Products Corp
100
No par
I
2
Nov
66% Nov
21 s4
Jan
Feb
33
Nov
91
Feb
114
Nov
34
May
63
Dec
63
68
Dec
70
44%
4%
2i2 Mar
17i2 June
72i2
Jan
37
Deo
Deo
Aug
Deo
Deo
112% Deo
784 l,ov
93s Feb
8
2
June
30% Feb
7
15
Feb
33
Nov
63% Mar
109U Feb
83
May
13112 Aug 26
86
Feb 19
137%June 10
4i2 Feb 5
103s Mar 3
784Mar
18
6
1
Apr
1»4 Mar
1
11734 Deo
3% Nov
584 Deo
43s
May
Sept
3
418 Mar
3634 Oct
8
26U June
118
Jan 16
10
Feb 28
43i4 Oct
19
114
Jan
U4
Deo
9% Nov
33%
120
Feb
Deo
Apr
683 Nov
6
Feb 25
11
Deo
Feb
3
Deo
1005s Sept 24
145g Feb 19
6318 Sept 22
28i2 Jan
2i4 Mar
47
Deo
14i2 Mar
52
27s Feb 29
10% Mar 31
% Mar
2i2 Mar
28% Oct
8
77g. Mar
32i8 Sept 30
29i4 Jan
1U4 Feb
46i2 Oct
7
85
Oct
9
9
Deo
1%
_
Deo
6%
17
Jan
Aug
Sept
20% Aug
32
2518
Dec
30%
4
Mar
Jun 23-
85
Apr1
1
Jan
30%
Jan
55% Nov
72
Jan
84%
34
Mar
Mar 23
Feb
7
97s Feb
7
95
10% Deo
2
12i8 Feb 21
23% Sept 11
4
U4
6
2s4 Jan 13
46i2 Jan 2
83i2 Aug 11
107
Sept 9
110
Apr 21
102
Sept 10
124%Sept 18
116
Mar
5
Feb 13
48% Mar
39% Mar
36
Mar
104%
Jan
95
Jan
6% Mar
7% Mar
1% July
2% Feb
20% Mar
3
18
Mar
90
Feb
10
Mar
29
Jan
323s Sept 17
35% Oct
Jan 14
90
6
99
July 21
106
Deo
784 Nov
90
Feb
3
Nov
Oct
91% Deo
99% Nov
92
Nov
120% Dec
II434 Deo
10% Deo
1984 Dec
3% Jan
7%
Jan
77% Nov
3534 Deo
9884 Nov
126
6
34
84
7
3i4 Apr 28
16
Apr 28
2% Jan 7
65sJune 19
June 20
2318 Apr 30
56
Apr 30
47
Jan
4
625s Jan 6
63
Aug 21
33% Apr 28
105
3
3
July 29
Oct
37% Jan 10
109% Feb 19
28% Mar 4
17
Dec
1684 Mar
33% Dec
38% Deo
25% Nov
Jan
35% Sept
18
Sept 24
Mar
6
558 Jan 13
293sSept 25
5i4 Mar 30
14% Mar
46% Jan
6% Mar
12% Oct
1% Mar
6
Jan
1
Mar
11
Jan 14
87
Jan 15
68
Apr
57 7s Oct
9
35i2 Mar 23
81
Sept 8
72
Sept 8
14034 Sept 16
51
Jan
79
Feb 10
45
Jan 23
3% Apr
1184 Mar
25% Mar
20
Apr
35% Mar
7384 Mar
17»4 Apr
32%
102%
19%
24%
434
20%
3%
9%
No*
No*
79
Nov
DeO
Jan
Deo
Dec
Deo
Nov
65% June
25% Nov
61
Nov
61% Nov
68
Deo
82% Apr
35% Nov
9% Deo
2234 Oct
8
2% June
9
31% May
96
6
18
Mar
9
13
Mar
53% Deo
46% Deo
7
3
38% Apr
1% May
4
25* June
55
Apr
87% Oct
122
Jan
lli8 Jan 28
5«4 July
32
Jan
15512 Oct
41% Jan
Zenith
Nov
4% Aug
1U4
39
Youngstown S <fc T__
No par
73
Apr
1U4 Apr
36% Jan 14
19%June 29
8s4 Jan
83% Jan
42U July
100
Oct
73% Nov
*159% Deo
19i4
32% Mar
Young Spring & Wire. .No par
Preferred
78
% Mar
7
70
.....100
14034 May
165
Aug
7% Jan
Mar
1
7
4434 Apr 23
Preferred B
7334 July
Aug
29
Oct
10
100
Preferred A
Feb
3i2 Apr
46
Apr
Oct
100
preferred
Woolworth (F W) Co...
Worthlngton P & M
Jan
3334 Jan 25
1
preferred
Deo
5058 Nov
119% Nov
119i8
14934
152
3
Conv
114i2May 15
Jan
48
27i2 Mar
73% Mar
155
8
Wilson & Co Inc
Aug 20
Sept 2
Deo
17%
124% Apr
8
July
Wilcox Oil & Gas—...
80
84
Sept
11% Deo
Dec
Jan
9134
6278
7
183s Feb
1334 July
69
1,600
42%
1,100
21% 147,700
640
155%
3,100
51%
87% 35,900
117
12,200
38%
11,200
9
6
21% July
Motor
Wright Aeronautical...No par
8%
Oct
22%June
50
White
960
126%
92
22%
Mar
94% Jan
123i2 Jan
Wheeling Steel Corp.—No par
Preferred
100
White Rk Mln Spr ctf..No par
3,300
918 Mar
4884Mar 19
100
White Sewing Mach...No par
1,600
41,600
9
6
Mar 24
100 *11412 Jan 16
Detlnning
2,000
5,200
Oct
83s Mar 16
Vulcan
2,500
5,600
10,200
37 78
7
4is Jan
2834 Aug
Virginia Ry Co pref
5H% conv preferred
1,100
21,300
3
48i2 Oct 2
116
Aug 8
48% July 21
Westlnghouse El & Mfg
60
1st preferred
50
Weston Eleo Instrum't.No par
Class A
No par
Westvaco Chlor Prod ..No par
14%
29
9
23,200
4%
54%
June
3434 Jan 13
14%
2934
80
30
Westlngh'se Air Brake-No par
22%
15%
29
9
Western Union Telegraph.100
22.
27
2
28,700
120
1434 Mar
4
115
7
9% Sept
16% Sept
73
Jan
Feb
4,800
23,300
*106
9
Jan
27% Feb 23
No par
50% Nov
712 Mar
Sept
16i4 Apr 30
Chem
3518 Mar
318 Mar
Mar
Jan
Deo
10% Nov
51
July
Nov
Feb
13314
1
87
165
Jan
5
13
9
Nov
3% Oct
203s Oct
393s Deo
4i2 Mar
56
July 30
Dec
Nov
143
53
144
Nov
96
Mar
Sept 21
96% Jan 24
Jan
15
July
7
3is Jan
11%
5s June
5
11
9
6%
110
54i2Sept 8
59
Apr 2
978 Jan 27
183a Jan 28
110
Jan
Oct
658
88%
1,000
Jan 23
1978 Jan 23
3938 Jan 2
110i2 Feb 15
169U Feb 18
1778Sept 8
2834 Jan 16
Raalte Co Ino
2%
Deo
9284 May
18% Nov
4i2 Mar
65i4 Mar
Aug
Western
2,400
5
87i2 Mar
86
Western
140
7
Feb 17
5
Van
70
60
9
1278 Feb
5
7%
Oct
9i4 Mar
193s Jan
113i4 July
Mar
96
Mar
3i4 July
6OI2
Vanadium Corp of Am.No par
80
3,900
85is Aug
65
165
600
89%
2
1
3
4534 Nov
1334 Dec
20% Deo
4i2 Mar
Mar 23
7,600
3,600
45% 46
149% 151%
*153% 156%
27% 27%
37% 38
*25% 26
*34% 35
June
73a Apr
4812 Oct
24% Deo
7«4 Nov
17% Oct
li2 Feb
2034 Mar
8s4 June
Apr 30
67'4May 1
575s Apr 29
2%
23%
54%
80
3%
100
Preferred
105
9
2%
2238
3%
8%
79%
54%
3
1
No par
1612 Feb 4
2912 Aug 10
9
111% Jan 6
8is Apr 27
15
Apr 30
2
Apr 25
Sis Aug 26
72i2May 4
23
4%
Vadsco Sales
Nov
7718 Oct
14U4 Oct
50
Utilities Pow & Light A
Jan
Aug
78
75is Apr
1151a Jan 7
Apr 27
160
Oct 3
Nov
26%
Jan
3
Universal Pictures 1st pref. 100
100
100
22%
14%
4%
8%
*79*4
54%
3%
8%
99
*90
*90
120
9834
*120%
113% 113% *113
113%
10%
103s
10%
10%
20% 21
20% 20%
*25%
90
28
70
2,300
2
20
Mar
2014 May
46
463s Jan 21
68i2 Jan
153
250
x35
89
32%
105
107% 107
35
89
104% 104%
82
104
120% 122
*2%
~30
*81
26%
*85
1%
Jan
72i4 July 30
Deo
1384 Deo
9U4 Oct 7
3334 Sept 5
9i4 Feb 17
4878 Aug 4
21% Jan 6
758 Apr 30
163s Jan 2
47
26i2 July
30%
412 M
7
Deo
Jan
90i2 July
118
104
Jan
24
Oct
8
100
Preferred
80%
34%
26%
35%
90
31%
99%
2,200
40
107
No par
Preferred
Cflf)
40%
26%
35
*82
32
33
32% 33%
104% 104% *101
104%
2334
23%
23%
22%
14%
14%
14%
14*8
4%
4%
4%
*4%
107
•
6%
147
*80
Universal Leaf Tob
*80
*102% 104
2%
6%
150
O
31
103
21
28,800
27%
*80
20%
2%
3,300
25%
7%
82
22%
2%
1%
10%
28%
1%
9%
27
Aug 17
5
Preferred
500
30%
104
100
Aug 18
3114 Aug 28
4i2 Oct 3
United Stores class A..No par
Preferred class A
No par
1,300
60
40
49
131
600
4,200
60
*1%
2
No par
100
16,400
7%
*80
2%
60
34,800
29,100
30%
*103
Preferred
Waldorf System
61
1%
50
100
Walgreen
25%
1%
...100
50
U S Steel Corp
10
7
*40
preferred
U S Smelting Ref & Mln
Preferred
1,700
25
1%
40%
No par
3,300
59,000
*80
6
71
U S Rubber
8
May
8% Jan
100
Preferred
900
14
275o
80i4May
160
7584 Nov
llli2
111
9
Apr 29
4
Jan
Feb
82i2 Mar
79i2 Ma
20U Oc
978 M
Jan 11
Jan
2
10
24%June
10
20
No par
117
99
No par
c
U S Pipe & Foundry
U S Realty & Impt
3,200
30%
6%
46% 473s
144% 146
20
7%
*96% 100
*96% 100
*122
124%
*122
120% 124
112% 113
113% 113%
113% 113%
11
11%
10%
10%
11%
10%
21%
400
25%
*1%
U S industrial Alcohol-No par
U S Leather v t c
No par
June 10
44
1434
9
3158 Feb 7
323s Feb 18
25i2Sept 26
158 Oct 6
3U2 Oct 9
28% Jan 6
4
4
13%
10%
60
5H% conv pref
100
Jan
91
14
13%
1%
20
100
7
1013s Oct
Highest
I per share % per share
28% Feb 7
14934 Aug 12
20
100
30%
40%
105
100%
100
U S Hoffman Mach Corp...5
5%
*7
41%
No par
Jan
Lowest
share
per
618 Apr 30
13
Apr 30
Virginia Iron Coal <fe Coke. 100
25
~T%
No par
U S Freight
109
50
30%
82
105
6%
100
100
preferred..
9
2
143s Apr 30
90
26
104
107
1338
*59%
138
8%
99
No par
U S Gypsum
Jan
66i2 Jan
6% preferred
100
Va El & Pow 56 pret-.-No'par
Oft
——
*80
*80
98
7
Jan 15
July 10
16,800
19
46%
6%
10% Apr 27
Va-Carolina
5%
6
4
U S Distrib Corp
Preferred
23%
19
6
225s Jan
53s Apr 30
40% Apr 29
24,900
113
43
61%
26%
*103
*438
*18%
19
13%
30%
*1%
113
41
13%
*60
1%
1%
8%
*80
5%
23%
19
13%
2534
"T%
114
38%
99
30%
*1%
*4%
*19
19
99
*0 *2
40
*113
38%
13%
13%
13%
*60
5%
18%
35%
99
9%
26%
*80
5%
23%
99
99
*98%
26%
6%
*4-%
*18%
Jan 21
32i8June 18
100
Preferred
60
15,700
9
93
No par
$ United
1st
Oct
100
1
Paperboard
U S & Foreign Secur
6
15
No par
United Eng & Fdy
20
-
129
*1273s 129
127% 127% *127
74
74
*72%
*72% 74
*72%
*72%
*120% 130
*122% 130
*120% 130
*122% 130
130
3
*3
3
3%
3%
3
*3%
3%
3%
8%
8%
8%
8%
8%
8%
8%
8%
8%
*6
8%
6%
6%
*6%
8%
*6%
8%
8%
17
17
16%
16%
16%
17
16%
16%
17
36%
36
36%
36% 36%
36%
36%
36%
35%
*1143S 115
*1143g 115
115
*1143S 115
*114% 115
8
8%
8%
7%
7%
8%
8%
7%
8%
42% 42%
42%
43%
423g 43%
43%
42%
42%
26
9%
*112% 114
4%
23%
United Electric Coal
60
14,100
74
26
9
114
6
Oct
10
United Dyewood Corp
Preferred
U S Tobacco
127% 127%
74
*1834
34*4
4%
*18%
127*4 12734
*12212 130
*2%
114
United Drug Ino
7,600
■
*112% 114
*11234 114
*4%
5%
5%
*4%
*19
23%
23% *18%
No par
2
16i2 Apr 27
68
Prior preferred v t o
-
•»..
Preferred.
Jan
24% Mar 18
111
United-Carr Fast Corp .No par
United Corp
■;
No par
1,500
15,100
5,700
13
No par
United Carbon
7%
715s Jan 3
2034 Aug 26
7
9018 Jan 2
225s Jan 2
2058 Apr 30
1081a Jan
100
Class A v t
93
82
"
No par
Biscuit..
Preferred
13,400
164
93
93
93
*89%
*89% 93
81
84%
84%
83% *83%
84% 84%
156% 156%
*156% 160
*156% 159
*156% 159
156'4 15634 *156% 160
102
*102
104
105
103
102%
102% 103
105
101% 103
*103
4
4
4
3%
4%
4%
4%
43g
3%
4%
37«
3%
2
2
2
2
2
2
2%
2
2%
2
2%
2%
45
46
45
45
45
*40
*43
45
45
45%
47
*45
24
25
24
24% 24%
24%
24% 24%
25 "
24%
25%
24%
47
46
46
46
46%
46% 47%
46%
46%
47
40%
47%
*113
*114%
*114%
*113
*114%
*113
46
46%
45% 46
45%
4638
45% 45%
46%
4534
4534
45%
89
89
*86%
88
*85%
*86%
*84
*85%
SS
*84
*86%
*86%
*86%
*86%
*85%
*85%
5%
6% .( 5%
5%
5%
6%
5
5% "5%
5
4%
5%
38
36
39%
38% 40%
38% 38%
41%
35
34
36%
34%
*91
6,600
1,200
19,300
76
160
6%
5,700
72%
160
6%
No par
United
5
$ per share
138
United Amer Bosch
21,100
140% 141%
135% *126
135%
6
930
92
135% *125
6%
300
3,500
86%
72%
*125
6
Rights
300
89
135
6%
8,300
37%
*125
No par
United Gas Improve...No par
Preferred
No par
300
48,300
37%
135
Car
Aircraft Corp
42,600
38,600
80,800
*125
6%
United
Un Air Lines Transp Corp___5
United Fruit
37%
5%
12%
97%
52%
11%
5
135
140% 141
Union Tank
100
10,600
12%
96%
51%
10%
*132
13934 14038
900
85
11%
36%
87%
2,600
...100
Preferred
10
53%
3O34
13934 140
Union Carbide & Carb.No par
Union Oil California
25
Union Pacific
100
31
17%
3634
35,200
1,600
2,700
7%
8% 137,000
4638 46%
10,600
14%
14%
11,300
*23% 24
1,200
120
104% 104%
6
9,400
63s
47% 48
3,100
16%
36
4,100
37,100
16,300
111
17
5%
12%
139% 140%
29%
24%
1638
11%
52
*29
23%
*166%
—
-
23%
Highest
Lowest
Par
1,600
24%
112
46%
98
29%
28
•7%
97
29%
26%
15%
112
46
30,600
18,200
30,400
98
28
734
139
98
112
46%
139
99%
28
7%
139
99
1%
99% 101%
138
983g
112
46
99%
23%
99%
22%
Range for Previous
Year 1935
On Basis of 100-share Lots
STOCK
EXCHANGE
$ per share
138
2329
7
Aug
4038 Oct
98,1
Jan
105
Nov
Deo
1484 Nov
784
Deo
Complete
Bond
RICHARD
Brokerage Service
WHITNEY & CO.
Members
New
York
Stock
Members
New
York
Curb
15 BROAD
Exchange
Exchange
NEW YORK
STREET,
Owllng-Green 9-4600
A. T. & T. Tel.typ.
New York Stock Exchange—Bond Record, Friday, Weekly
2330
On Jan. 1,
1909 the Exchange method of quoting bonds
teas
changed and prices
are now "and interest"—except
TWX. N.
Y. 1-1793
and Yearly
0ct-10>1936
for income and defaulted bonds
NOTICE—Cash and
deferred delivery sales are disregarded In the week's range, unless they are the only transactions of the week, and when selling
regular weekly range are shown In a footnote In the week in which they occur.
No account is taken of such sales in computing the range for the year.
2
BONOS
N.
Y.
STOCK
EXCHANGE
Week Ended Oct.9
U.
S.
-a
C
5
Friday
Week's
Last
Range or
Friday's
Bid
&
Asked
Sale
Price
Low
Government
Treasury 4Kb-.-Oct
Treasury 3Ks.__Oct
15 1947-1952
A
1943-1945 A
1944-1954 J
1946-1956 M
1943-1947 J
1951-1955 M
15
Treasury 4s
Dec 15
Treasury 3Kb—Mar 15
Treasury 3Ks—-June 15
Treasury 3s.-...Sept 15
Friday's
Jan. 1
Week Ended Oct. 9
Price
Low
High
O
118.30 118.30
119.2
62
115.3
O
108.13 108.12
108.19
79
D
114.6
114.4
114.6
46
111
4
109
lj4.12
112.13
109.2
109.8
131
106.17109.12
104.30
105.4
72
102.20105.16
D
106.3
106.1
106.5
117
102.29106.10
J
D
108.2
108
108.6
21
107.19109
M
S
J
D
J
Mar
1 1942-1947
Home Owners' Mtge Corp—
3s series A
May
1 1944-1952
-
Foreign Govt. & Municipals—
Agricultural Mtge Bank (Colombia)
♦Sink fund 6s Feb coupon on. 1947
♦Sink fund 6s Apr coup on
1948
Akershus (Dept) ext 5s
1963
♦Antloqula (Dept) coll 7s A
1945
—
109.1
17
108
106.30
107.5
51
103.24107.8
External 5s of 1914
103.19106.22
*106.18106.24
A
109".!
O
108.11 108.6
M
S
M
103
385
100
104.20
200
100.31104.20
102.27
29
D
101.23 101.22
101.31
103
100.23102.5
101.10
172
100.30101.10
104.27
6
102.20105.14
M S
104.4
M
104.24 104.24
S
M
F A
A O
M N
J
J
1945 J
J
20 K
20
20
20 K
5
97 %
97
97%
24
9
9K
m
8%
8K
7%
1958 J D
1960 A O
1959 J D
O
100 K
100 K
1957 M S
100M
19581J
100 K
100 M
100 K
100 K
100 K
100K
7K
7K
8%
94
25
D
J
D
37
O
30
A
O
30 K
J
D
30K
8
103
F
A
103
J
D
M
10
10
10
100 %
100 K
101K
26
External
s
f 6s ser C-3
39
100 K
101K
J01K
37
100K
100 K
100 K
101
49
110
101
17
100 K
100 K
101
37
101
78
24
97
76
61
24K
106
21
1
Refunding
s
f4K-4Ks
8% external s f $ bonds
Bulgaria (Kingdom of)—
1952 M N
6s
10-year 2Kb..
25-year 3Kb
♦Farm Loan
s
Aug 15 1945
1961
...1954
1950
f 6s.-July 15 1960
♦Farm Loan
s
f 6s..Oct
♦Farm Loan 6s
~70K
97%
97 K
97K
97 %
97%
97%
94 %
104 %
104 K
98K
90 %
22 K
90
105K
89
105K
19
100K 102 K
93K 100
90
48K
66%
78%
3
61K
7
61K
78
78
30 K
41K
70K
97 K
30
25
1
25
34
27
28K
27M
102 K
102 K
104 K
37 %
30
12
8
37
150
98
19
96%
3
24
96%
24
122 % 140
45
118K 128
42
123 % 150%
17
125K 135
j"~D
15
169
22 K
11
29&
20
29
47
29 K
39K
.28%
6
36K
39
*30
"32K
a
J
D
28K
26
25K
25K
21K
28K
99
98 K
99
93K
24
24 %
19K
19K
105K 106K
1968
Haiti (Republic) s f 6s ser A—.1952 A
102
16K
99%
26K
24K
♦Hamburg (State) 6s
1946 A
♦Heidelberg (German) extl. 7Kb '50 J
Helsingfors (City) ext 6Ks
1960 A
101
%
101%
101%
109 K
109K
103K
100
Irish Free State extl s f 5s
1960 MN
Italy (Kingdom of) extl 7s
32
110
1951 J
28K
19
27 K
27 K
37%
22K
30
22
31K
21 %
30 K
15
16
100
28 K
100 K
101K
8
35
70K
71K
73
11
1
83
68
68
68K
95 • 103K
95
103K
101K 105
25
38H
95
100K
93
100K
92 K 100
70
83%
65
71K
55 K
73
58
22
57 K
2
59 %
70
27
51K
19
9
19
4
61K
39K
External sec s f 7s ser B
Italian Public Utility extl 7s... 1952 J
102 K
130
11
18K
108 K
108 %
114K
100
109K
114K
100K
102 K
*39 K
102 %
46 %
52
25%
*22
*22
*22
*22
49K
_
D
♦7s with all unmat coup
1957
51%
♦Medellin (Colombia) 6 Kb
D
1954 J
84 K
84K
29 %
9K
5K
89 K
32%
25
32 K
40
22X
99
9K
4K
78
98
9K
5K
7K
4
31K
101
10K
7K
9
10K
*6
10K
8
7%
12 K
5K
7%
12K
*4K
5%
4%
6K
4K
7M
4K
D
.....
"5"
D
O
1952 J
D
4K
4K
4K
7K
6K
5H
"67% "70"
"69K
16%
16%
62%
62 K
*60Ji
1959 MN
♦6s series A
77
83
91K 100K
33
*5K
1958 M S
1959 MS
(City) 7s
121
100
51K
4K
7K
1954 J
t 6 Ks
f 6Kb
83 %
53
21
...
♦{Small.;.
s
78
"~7
99%
J
Milan (City. Italy) extl 6 Kb—1952 A
Mlnas Geraes (State)—
s
83
80
5K
1945 Q
♦Assenting 4s of 1904
1954 J
♦Assenting 4s of 1910 large..
♦Assenting 4s of 1910 small..
♦Sec extl
26
16K
38
51%
112K 115
87 K
60K
*4
♦Assenting 5s of 1899
♦Assenting 5s large..
♦Montevideo
23
84 K
*
♦Mexican Irrig assenting 4Kb. 1943 MN
♦Mexico (US) extl 5s of 1899 £.1945 Q J
♦Assenting 5s small
32K
25K
17 K
66 K
68 K
99
100
D
♦4s of 1904
30
18%
*96K
*23 %
♦Leipzig (Germany) s f 7s
1947
Lower Austria (Province of)—
♦7Ks June 1 1935 coup on ..1950 J
♦{Treas 6a of '13 assent (large) *33
68
68 K
71K
81 %
110
23
...
48K
49K
*112K 114
83~"
104
17
32 K
Japanese Govt 30-yr s f 6Ks—1954 F A
Extl sinking fund 5Ks
—1965 MN
Jugoslavia State Mtge Bank—
7
24%
50
17%
15K
17%
14 K
62%
47
64
43
7K
7K
7K
9K
9
77
19K
19 K
62 K
57
42
114K
100
28 %
*15
Hungarian Cons Municipal Loan—
♦7Ks unmatured coup on...1945 J
♦7s unmatured coupon on...1946 J
♦Hungarian Land M Inst 7KS.1961 MN
♦Sinking fund 7Ks ser B
1961 M N
♦Hungary (Kingdom of) 7Ks—1944 F A
101%
105
103 K
34
27K
28K
25K
1964
1968 FA
♦6s part paid..
25
45K
34%
37%
31K
f ser 7s.. 1964 MN
♦7s part paid
190
182K
24K
33K
35
♦Sink fund secured 6s
172 K
26K
36K
♦Greek Government
27
183
25
31K
28 %
1958
18
122K
118K
123K
125K
24
J
101K
31K
103%
2
24
125
118K
123 %
93
105K 109
101%
30%
104 K
2
r71
106% 107 %
J
23
34
42
35K
36 K
14
34 K
34 K
9
O
N
O
A
J
M S
M S
M N
J D
J D
39K
14K
J4K
38 K
39 K
14 K
25
14 K
14K
14K
14K
14 K
14 K
14K
14K
13
14 %
13
13K
13
13
—1982 M N
13K
1960 M S
12 K
42
15
14K
14K
~~2
2
107
50
22 %
1953 M
♦Sinking fund 4KB—
15
166
13 K
13 K
19
13K
15
13K
33
12 K
12 H
10
51K
3
24 K
2
20 %
1952
Oriental Devel guar 6s
Extl deb 5 Kb
57
13
22 K
22 K
691
771
F
♦Nuremburg (City) extl 6b
31
9
...1963 M
S
1956 M S
1965 A O
Municipal Bank extl s f 5s... 1970 J D
15
13K
20 K
O
External sink fund 5s
1943 F A
1944 F A
External sink fund 4Kb
External »f 4Kb
14K
24 K
1951 J D
♦Cologne (City) Germany 6 Kb. 1950 M S
Norway 20-year extl 6s
20-year external 6s
Oslo (City) 30-year s f 6s
51K
♦Chinese (HukuangRy) 5s
New So Wales (State) extl 5s.. 1957 F A
External s f 5s
Apr 1958 A O
45
Colombia (Republic of)
J
r71
J
109 K
17K
f 6s
74K
105K
36
2335.
O
105*32 —7
50 K
s
see page
A
79
42
1935 coup on.Oct 1961 A
1935 coup on. Jan 1961 J
60 K
104K 106K
74K
75K
S
70
♦Guar
footnotes
78
74%
74K
S
67
68
1961 A
For
96 K
102K
37 K
21 %
75 %
74 K
1947 M
73
f 6s
♦6s Apr 1
92
37
75 %
*23 %
34 K
104K
25
S
Italian Cred Consortium 7s A.. 1937 M
65K
s
♦6s July 1
99M
O
MN
89%
33
50
A
118 K
34 K
O
5
M
109
O
A
M
A
F
J
98K
*43
105
*80
♦Guar
♦Chilean Cons Munlc 7s
99K
M S
101K 109 %
15 1960 A
1938
1942
1960
1961
1961
1961
1962
1963
1957
1961
9
99
14
J
J
S
J
Apr 15
♦Chile (Rep)—Extl s f 7s
♦External sinking fund 6s
♦Extl sinking fund 6s
Feb
♦Ry ref extl s f 6s
Jan
♦Extl sinking fund 6s—Sept
♦External sinking fund 6s
♦External sinking fund 6s
♦Chile Mtge Bank 6 Kb
♦Sink fund 8KB of 1926
101K
405
99
99
104 % 105K
100 K 101K
24
A
ser A
95K
97%
iol%
28
F
J
J
M
J
♦Carlsbad (City) s f 8s
♦Cent Agric Bank (Ger) 7b
12
92 % 100
88 %
97
100
~59%
33%
28K
♦Sec extl
♦Sink fund 7s July coup off_ .1967 J
J
♦Sink fund 7 Ks May coup off1968 M N
Canada (Dom of) 30-yr 4s
1960 A O
55 K
107K
105K
*98 %
100
1976 F A
1976 A O
1975
1984 J
J
Extl re-adj 4%A%a
Extl s f 4K-4KS
99K 101
115
"98%
♦Buenos Aires (Prov) extl 6s._.1961 M
♦6s 8tamped
1961 M S
♦6 Kb stamped
1961 F A
Extl s f 4K-4KS
1977 M S
99 K
104 K
27M
1960 A
13
20
100K
95%
96K
25K
♦(Cons Agric Loan) 6 Kb
97 K 101%
101 %
Budapest (City of)—
♦6s July 1 1935 coupon on...1962 J
Buenos Aires (City) 6Ks B-2..1955 J
External s f 6s ser C-2
1960 A
101% 101 %
100
D
1965
1965
♦5Ks of 1930 stamped...
♦5Ks unstamped
101 %
24K -i24K
J
A
23
105K
99%
M S
O
33
114
1956 MN
A
28K
♦German Rep extl 7s stamped. 1949 AO
♦7s unstamped
1949
German Prov & Communal Bks
101%
ioik
96
D
Stabilization loan 7s
7K
97 K
24 K
107K
105K
26
97 K
103K
J
20
94
102 K
M S
20
8K
7%
7K
7K
18
109K
109K
1955 J
8
4
34
11K
11K
11K
11K
56
109
1955 J
21K
7K
69
108K
External 30-year s f 7s
17K
7Ks unstamped..
—1941
External 7s stamped
1949
7s unstamped
1949
German Govt International—
96K 100K
101
109K
102 K
J
21
101K
100 K
109 K
A
17 K
13
8%
9K
8%
8%
J
J
6
11
1957 M S
F
70K
27 %
*101%
♦Frankfort (City of) s f 6Ks
1953 M N
French Republic 7 Ks stamped.1941 J D
20K
8%
MN
13
J
1967 J
1945 M S
95 K
101
1960IM N
External 8 f 6s (State Ry)
1960 M S
Extl 6s Sanitary Works
1961 F A
Extl 6s pub wks May 1927—1961 MN
Public Works extl. 5Ks
1962 F A
29
89K
56
Estonia (Republic of) 7s
Finland (Republic) ext 6s
O
1926
94K
S
99.17102.7
O
D
97%
93 K
89
A
128
O
1960
1950
♦Exteraalslnklngfund6a—1958
♦Brazil (U S of) external 8s
1941
♦External s f 6Ks of 1926
1957
♦External s f 6Kb of 1927—1957
♦7s (Central Ry)
1952
Brisbane (City) s f 5s
1957
Sinking fund gold 5s.—.
1958
20-year s f 6s
.—1950
M
101.29
1957 A
f 5s
100.15103.7
39
98
94 K
89
27K
J
1948 J
f 7s 3d series. 1957 A
♦Berlin (Germany) s f 6 Kb
D
J
♦El Salvador 8s ctfs of dep
f 7s 2d series. 1957 A
-
J
MN
99.16 102.5
sec s
Belgium 25-yr extl 6 Ks
20K
100.17103.29
s
1956
1957
1945
1949
17%
338
sec s
4Kb of 1928
21
A
265
♦External
Austrian (Govt) s f 7s
20%
22
*20
F
101.31
♦External
♦Bavaria (Free State) 6 Kb
17%
103.20
♦External
1955 J
101.20104.15
High
17
—
100.26104.5
Low
21
101.24 101.24
J
Australia 30-year 5s
External 5s of 1927
103
No.
23K
103.13 103.13
J
1945 J
.1945 J
s
25
101.7
103.16
High
*20
101.23 101.23
A
f 7s series D
Bergen (Norway) ext
102.27
102 2'x 102.22
f 7s series B
f 6s..
109
S
f 7s series C
s
82
104.10
104.5
s
External g
103.26
104.4
J
M N
External s f 6s of Oct 1925--1959 A
101.4
103.23
M N
s
f 6s of May
109.12
Since
..*20
1949 F
A
ser
1949
Sinking fund 5Ks
Jan 15 1953
♦Public wks 5Ks—June 30 1945
Czechoslovakia (Rep of) 8s
1951
Sinking fund 8s ser B
1952
Denmark 20-year extl 6s
1942
External gold 5Ks
1955
External g 4Kb
Apr 15 1962
Deutsche Bk Am part ctf 6s—-1932
{♦Stamped extd to Sept 1 1935
Dominican Rep Cust Ad 5Ks—1942
1st ser 5Ks of 1926
1940
2d series sink fund 5Ks1940
♦Dresden (City) external 7s—1945
105.12 108.21
102.23 102.22
s
External 6b series B
108.5
104.14 104.11
♦External
f 6s series A
41
30
102.23 102.23
♦External
Antwerp (City) external 5s_
Argentine Govt Pub Wks 6s
Argentine 6s of June 1925
109.2
108.14
S
♦External
f 7s 1st series
108.30
109.13
M S
J
Low
Range.
Jan. 1
Asked
O
External loan 4Kb
D
107.2
F
1 1939-1949 F
1942-1944
2Kb series B__Aug
2KB series G
1|2.20
108.30 108.30
A
1942-1947 J
15
2KB
s
1946
♦Sinking fund 7s of 1927
1947
Copenhagen (City) 5s
1952
25-year gold 4Kb
1953
Cordoba (Prov) Argentina 7a—1942
Costa Rica (Republic of)—
♦7s Nov 1 1936 coupon on.—1951
Cuba (Republic) 5s of 1904
1944
♦Sinking fund 7s of 1926
&
MN
♦Colombia Mtge Bank 6 Kb—1947 A
119.11
112.12
S
D
Bid
Foreign Govt. & Mun. (Concl.)
105.24108.29
105.1
Jan
External
Range or
Sale
10~9~.3~
3s
s
NO.
Last
N. Y. STOCK EXCHANGE
S
Treasury 3Ks—-June 15 1940-1943
Treasury 3Ks—Mar 15 1941-1943
Treasury 3Kb...June 15 1946-1949
Treasury 3His..-Dec 15 1949-1952
Treasury 3Kb
Aug
1.1941
Treasury 3Ks._-Apr 15 1944-1946
Treasury 2Kb—-Mar 15 1955-1960
Treasury 2KB—-Sept 15 1945-1947
Treasury 2Kb
Sept 15 1948-1951
Treasury 2Ks
1951-1954
Treasury 2Kb.--Sept 15 1956-1959
Federal Farm Mortgage Corp—
3K8
-Mar 15 1944-1964
3s
May 15 1944-1949
Extl
High
Week's
BONDS
Since
June 15 1946-1948 J
Treasury 3s
External
Friday
Range
II
outside of the
Panama (Rep) extl 5Ks
♦Extl s f 5s ser A
♦Stamped
Pernambuco (State of)—
♦7s Sept coupon off
♦Peru (Rep of) external 7s
♦Nat Loan extl
s
104
104K
18
104K
104
104 K
49
105
104 % 105K
105% 106
15
105K
100 K
97%
97K
*102 K
24
S
~24%
—
99% 102 K
96K
97%
102 K 104
5
82 %
78%
iiH
29
77
13
100732 100*32
"98""
98 K
105
105 K
72%
66%
12
15
23
12
13K
1940
60
54
61
1947
67 K
71
External sink fund g 8s
..1950
61
56K
62
f 6s 2d ser. 1961
1
38
/
'
17 K
19
10
39
s
90K
81
13K
44
71
♦Nat Loan extl
106
12 K
51
Poland (Rep of) gold 6s
Stabilization loan s f 7s
82 K
58
168
12
86 K
67
9
16K
15K
13K
13K
14K
104
6
IK
27
1007a 104
96K
98%
4
72
14 K
72 K
106
98
105
108
100K 104 K
16
82%
D
D
105
40
77
66
f 6s 1st ser.. 1960 J
101
104 K 107 K
129
97 %
82%
1963 M N
1947 M S
1959 M S
100K 105K
8
100 % 101
100
100K
100 %
A
1958 MN
1955 M N
1955 A O
1953 J
104 %
16 K
10
80 K
44
157
16 K
37
111K
40
i
96
Volume
2331
New York Bond Record—Continued—Page 2
143
—
Week's
Friday
BONDS
N. Y. STOCK EXCHANGE
Week Ended Oct. 9
BONDS
Since
N. Y. STOCK EXCHANGE
•J h
Bid
&
Low
Foreign Govt. &Munlc. (Concl.)
33
Asked
Nft.
Price
No
High
Low
♦8a June coupon off
1961
D
♦7 X9 July coupon off
1966
J
20
♦Prussia (Free State) extl 6X8.1951 M S
♦External s f 6a
1952 A O
Queensland (State) extl s f 7b.. 1941 A
1947 F
6s
15
96
7
95
19)4
101)4
24
7
18
29)4
24
24
13
18
28)4
113)4
113)4
17)4
24
112)4
111x
A
external
26
95
~2A~
O
25-year
18)4
112)4
112)4
3
109
5
109
1950 M S
♦Rhine-Main-Danube 7s A
28 x
28)4
28)4
2
24)4
38
O
19x
18
19)4
9
15
21
15
16)4
73
14
19x
27)4
19
1946
1953 F
♦6Xs Aug coupon off
A
O
27
27
D
18
17
18
21
18 x
21
18)4
74)4
♦7s May coupon off
♦7s June coupon off
Rome (City) extl 6Xs
♦7s August coupon off
♦Saarbruecken (City) 6s
72)4
36
120
24)4
1952 M N
1936 J
♦External 8s July coupon off.1950 J
♦External 7s Sept coupon offl956 M S
J
♦Exter .al 6s July coupon off. 1968 J
112
102 X
1'04
95 X
95X
96
MN
96 X
96 X
97
103X
103X
104X
69
62 X
64X
70
J
J
J
26)4
28
22 x
25
Conv
18)4
17)4
23
11
14
35
six
20 x
90 x
D
27x
27)4
27)4
25x
25)6
M N
D
1946 F
1955
1971
1952
s f 5Xs
Tokyo City 5s loan of 1912
External s f 5Xs guar
1961
Trondhjem (City) 1st 5Xs
1957
♦Uruguay (Republic) extl 8S..1946
18 x
17)4
3
27
50)4
49
40
A
*129)4
126)4
32 x
Bell Telep of Pa 5s series B
1st & ref 5s series C.
29x
Belvldere Delaware
22x
29
33
75
40
2
140
109
33
113)6
114X
104X
104X
105X
99X
102X
104X
105
105X
14
100 X
105X
106
99
99 X
106 x
99X
100
37
88
100
9
F
A
104)4
J
J
77)4
74
79 54
78)4
79)4
101)4
55)4
MS
A
O
78)4
101)4
M N
F
55
A
f 6s
1960 M N
f 6s
1964 M N
54
O
1958 F
A
51)4
73 x
1
94 X
94X
95
92
74 X
95
82
84
691
61X
84
S
94
95X
350
74
95x
J
115X
115X
1
J
109
109
11
113X 116x
103X 109x
114X
115 X
11
109X 118
77 X
9
72
37)4
90
48)4
AND
D
*26 X
A
*25
1
]
A
O
A
O
J
J
]
J
D
]
M
]
M N
86 X
87 X
O
83 X
F
A
24
A
O
29X
28 X
4)4s ser JJ
]
{♦Boston & N Y Air Line 1st 4s 1
{{♦Botany Cons Mills 6Xs—.]
♦Certificates of deposit
Brooklyn City RR 1st 5s
]
Bklyn Edison cons mtge 3)4s
]
Bklyn Manhat Transit 4Xs_—]
BklyD Qu Co A Sub con gtd 58. ]
74
87
33)4
71)4
Bklyn Union El 1st
34
78
89
Bklyn Un Gas 1st
1st 6s stamped
•
A
g
Coll trust 4s of 1907
D
1947 J
Adriatic Elec Co. ext 7s......1952 A O
Ala Gt Sou 1st cons A 6s
1st cons 4s
ser
1943 J
D
♦Albany Perfor Wrap Pap 6S..1948
♦6s with
assented
1946
1944
107)4
warr
O
*76
A
O
103)4
71
conv
♦Coll A
conv
6s
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BROKERS
Industrial Bonds
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49 wall street
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Members
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A.
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1946
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Friday's
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Price
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Last
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Week's
Friday
--
----
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2
22
22
137
18
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Oct.
New York Bond Record—Continued—Page 3
2332
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82*
23
108
108*
44
29*
29*
593
26*
25*
6
3
113* 113*
113*
107
107
1
138
110
138*
4
113
113*
110
110*
*108* 110
18
15
—
——
*107
93*
_
105* 105*
93
93*
*106*
94*
95*
94*
94*
45
35
35
35
15*
112* 117
104
52*
107
12*
16*
107
85*
108*
29*
29*
104* 108
*106* 108*
107
108* 112*
50
50*
45
45
40
104
29*
9*
71
16
116* 116*
108* 108*
111* 112
*35*
70
116* 116*
82*
108*
29*
3*
66
66*
1
*30
—
_
19
227
—■--
136
113* 114
106* 108
128* 138*
110
113*
101*
100*
105*
105*
99*
77*
ill*
110
107*
107
105*
93*
105* 106*
74 *
95*
94*
1953 A
1967 IVI N
"90*
O
90*
J
Genessee River 1st s f 6s
J
1957 J
N Y A Erie RR ext 1st 4s._ -1947 IVI N
3d mtge 4*s—
1938 IVI s
43
75
94
1953 A
Gen conv 4s series D
Ref A
1975 A
1955 J
105* 108*
490
19*
*43
110
105* 108*
1
17
1951 F
—1953 A
Ref A lmpt 5s of 1930
Erie A Jersey lst s f 6s
105
1
108
*107
1996 J
lmpt 5s of 1927
12
107* 107*
32*
36
35
36*
34*
1965
Series B
102
105* 105*
78*
94
3
74
94
90*
92
416
70
92
90
91*
611
69*
91*
116*119
*118* 119
117*
95*
1
116* 119*
1
111
112*
103
117* 117*
112* 112*
*103*
104*
98
61
1965 A
7
75*
101* 104*
104* 107*
98
Erie A Pitts g gu 3*s ser B—1940 J
Series C 3*s
1940 J
Erie RR 1st cons g 4s 4s prior. .1996 J
1st consol gen Hen g 4s
Penn coll trust gold 4s
70*
17
105
O
1941 IVI N
15
46*
*30
1956 MN
J
1939 J
J
1995 J
22*
1
*35*
East T Va A Ga Dlv 1st 5s
Ed El 111 Bklyn 1st cons 4s
Ed Elec (N Y) 1st cons g 5s
g 5s
60*
1
D
J
Duquesne Light 1st M 3*s.. .1965 J
♦{East Cuba Sug 15-yr s f 7*s .1937 M S
♦Ctfs of deposit
5s stamped
61
12
49*
49*
10
.1995
El Paso A S W 1st 5s
44
455
D
Detroit Term A Tunnel 4*8. .1961 MN
Dul A Iron Range 1st 5s
.1937 A O
Dul Sou Shore A Atl g 5s.— .1937 J
J
Elgin Jollet A East 1st
65*
59*
60*
106*
103*
107* 107*
J
{♦Des M A Ft Dodge 4s ctfs— .1935 J
{♦Des Plaines Val 1st gu 4*s_ .1947 IVI S
Detroit Edison Co—
Gen A ref 4*s series D
.1961 F
Gen A ref 5s series E
.1952 A
Gen A ref M 4s ser F
.1965 A O
27
53*
102
107*
♦Assented (subj to plan)..
♦Ref A impt 5s ser B__.Apr 1978 AO
61*
99
101*
"89*
"19*
25*
56*
.
106* 107
88*
89*
101
101*
A
16
102
104
100* 101
100*
F
-1948 A
96
60*
J
East Ry Minn Nor Dlv 1st 4s
105
100* 103*
103* 106*
57
"60*
J
.1995 J
107*
10
54*
58*
1936 J
♦2d 4s assented
101* 103
107
109*
23
*103
56
1936 J
♦Second gold 4s
62
60
D
1952 J
♦Detroit A Mac 1st lien g 4s.- .1995 J
♦1st 48 assented
.1995
30*
31*
42*
104-*
104
J
17
19
105* 106
106
J
42
22*
19*
6
{♦Den A R G 1st cons g 4s
1936
{♦Consol gold 4*s
1936
{♦Den A R G West gen 5s.Aug 1955
123
......
7
J
1969 J
J
1969 J
s f 5s.„ 1951 IVI N
Stamped as to Penna tax
1951 IVI N
137
80
103
100
4*s.
131
10*
103* 106*
25
100
105
1st mortgage 4*s.
Den Gas A El 1st A ref
54
70
104
94
101* 102
Cumb T A T 1st A gen 5s
1937 J
Dayton Pow A Lt 1st A ref 3 *s 1960 A O
Del A Hudson 1st A ref 4s
1943 IVI N
Gold 5*8
1937 IVI N
Del Power A Light 1st 4*s
J
1971 J
26*
25*
17
16
A
—1942 J
Cuba RR 1st 5s g
1st ref 7*s series A.
1st lien A ref 6s ser B
50
15*
21
D
Crown Cork A Seal s f 4s.
1950 MN
Crown Willamette Paper 6s.„1951 J
J
Crown Zellerbach deb 5s w w._ 1940 IVI S
1st A ref
111
1943 J
Copenhagen Telep 5s Feb 15-.1954
31
20*
20
D
F
32
19*
51
100*
1
....
1946 J
warr
20
105* 106*
104* 105
106*
3*s
Container Corp 1st 6s
15-year deb 5s with
30
22*
105* 109*
24*
23*
34*
30
*98
109*
May 1 1965 IVI N
3*s_.
7
104* 106*
103* 106*
108* 109*
106
106*
50*
1960
80*
99* 105*
98* 105*
110
112*
50*
23*
Consumers Gas A Chic gu 5s. .1936
Consumers Power 3*s-May 1 1965 IVI N
24*
23*
1951 J
5s
50
6
35*
68
26
s
53*
25*
25*
*90*
D
1960 J
Dec 1 1960 IVI S
11
46*
♦Consolidation Coal
86*
105*
24*
23*
*23*
*23*
24*
.1956
25*
D
Chlo T H A So East 1st 5s
5
47
47*
19511J D
4s
113
47
......
29
73
67*
47
28
203
26
50
16*
92* 104*
lp'A 111*
65*
58*
64
8
28*
15*
43
22*
......
June 15 1951 J
g
82
29*
J
♦Stpd 4s non-p Fed lnc tax1987' M N
♦Gen 4*s stpd Fed lnc tax1987 M N
♦Gen 5s stpd Fed lnc tax
1987 M N
♦4 *s stamped..1
1987jM N
{♦Secured g 6*s
1936 IVI N
♦1st ref g 5s
May 1 2037 J D
♦1st & ref 4*s stpd.May 1 2037 J D
D
♦1st & ref 4*s ser C.May 1 2037 J
♦Conv 4*s series A
1949 MN
{{♦Chicago Railways 1st 5s stpd
Aug 1 1933 25% part pd
F A
{♦Chic R I A P Ry gen 4s—_—1988 J
J
♦Certificates of deposit
{♦Refunding gold 4s
1934 A O
♦Certificates of deposit
{♦Secured 4*s series A
1952 M S
♦Certificates of deposit.*
♦Conv g 4*s
1960 IVI N
Gold
106* 114
117*
112
14
1987 M N
Ch St L A New Orleans 5s
107* 115*
29* 1625
25*
9*
43*
3*8—1987
41
104 * 109
108* 113
24*
J
J
Jan 1 2000
g
♦General 4s
110*
29*
J
M S
{♦Chic Mllw St P & Pac 5s A—1975
♦Conv adj 5s
{♦Chic & No West gen
111*
112 J* 118*
108 * 113*
110
108*
112*
114*
M N
♦Gen 4*s series C--May 1 1989
♦Gen 4*s series E_.May 1 1989
♦Gen 4* series F
May 1 1989
gu
.
29
IVI N
♦Chic M A St P gen 4s ser A..1989 J
♦Gen g 3*s ser B__May 1 1989 J
lnc
-
117
58
59*
108*
112*
114*
113*
1971
{{♦Chicago & East 111 1st 6s..1934
{♦C & E III Ry (new Co) gen 5s_1951
♦Certificates of deposit
Chicago & Erie 1st gold 5s—--1982
Ch G L & Coke 1st gu g 5s.-—1937
{♦Chicago Great West 1st 4s_.1959
{♦Chic Ind & Loulsv ref 6s—.1947
♦Refunding g 5s ser B______ 1947
♦Refunding 4s series C
1947
♦1st & gen 5s series A
1966
♦1st & gen 68 series B.May 1966
Chlo Ind & Sou 60-year 4s
1956
Chic L S & East 1st 4*s.
1969
.
117
.w...
117
Chic & Alton RR ref g 3s
1949
Chic Burl & Q—III Dlv 3*s—1949
Illinois Division 4s
*110
.
1
28
23
<zl05*
.1955
♦Debenture 4s
Cent Pac 1st ref gu g 4s
1949 F
Through Short L 1st gu 4s_1954 A
23
2105* 106
1956
Consol Gas (N Y) deb 4*s
1951
{♦Consol Ry non-coriv deb 4s._ 1954
♦Debenture 4s
1955
Ranoe
99
110* 112*
104* 104*
105* U0*
105* 108
♦Consolidated Hydro-Eleo Works
BONDS
High
110* 111*
98* 106
80*
83*
79*
83*
80*
15
106
Conn A Passum Riv 1st 4s
Conn Ry A L 1st A ref 4*s
133 So. La Saila St.
9rhote Who
1
Range
Jan. 1
*111
104*
1961
4$
Asked
<b
Col A Tol 1st ext 4s
Xork.
T£. X.
9itm
Ono Woll Street
Bid
Low
*
I
Price
«)<?
Friday's
Sale
EXCHANGE
D
Coal River Ry 1st gu 4s
1945
A
♦Colo Fuel A Ir Co gen s f 5s..1943
5s Income mtge
1970 A O
York Stock Sxchonge
m
STOCK
Week Ended Oct. 9
tyennett tyros. & Johnson
a#
Y.
Ranoe or
Last
BONDS
N.
10.
Week's
Friday
/
Ernesto Breda 7s
1954 F
A
62
Fairbanks Morse deb 4s
Federal Light A Tr 1st 5s
5s International series
1956 J D
1942 M S
104
62
2
42*
103* 104
55
101*
62
74
.
Chicago Union Station—
Guaranteed g 5s
Guaranteed 4s
1944 J
1944 J
1st mtge 4s series D
1963 J
1st mtg 3*s ser E
Chic A West Indiana
1st A ref M
J
108*
1952 J
104*
1963
con
4s
4*s
—1962
Chllds Co deb 5s
M
1943 A
Chile Copper Co deb 5s
—1947
{♦Choc Okla A Gulf cons 5s—1952
Cln H A D 2d gold 4*s
1937
Cln Leb A Nor 1st con gu 4s_—1942
Cln Union Term 1st gu 5s ser C-1957
1st mtge guar 3*s series D..1971
Clearfield A Mah 1st gu 4s
1943
J
.....
J
J
.....
MN
.....
M N
IVI N
Ref A lmpt 68 ser C
.....
119
"
......
1990 MN
1940 M S
Spr A Col Dlv 1st g 4s
W W Val Dlv 1st g 4s
1940 J
J
Cleve-Cliffs Iron 1st mtge 4*s_1950 M N
J
Cleve Elec Ilium 1st M 3*s.__1965 J
B.1942
1942
1942
1948
1950
Gen 4*s ser A
1977
Gen A ref mtg 4*s ser B
1981
Cleve Short Line 1st gu 4*s
1961
Cleve Union Term gu 5*8
1972
1st s f 5s series B guar
1973
1st s f 4*s series C
1977
Cleve A Pgh gen gu 4*s ser
Series B 3 His guar
Series A 4*8 guar
Series C 3*8 guar
Series D 3*s guar
*_
*
178
103
102
86*
55
102*
69
40
100
*107*
109*
106*
*105*
42
105
108*
109*
107*
....
A
O
A
O
J
J
A
F
73
86*
100* 103*
35
8
108*
109* 113
106
107*
105
40
96* 104*
3
111* 119
103* 105*
119
105
103*
71
97*
105*
*100*
102*
*105*
*101
98*
325
5
5
105*
.....
47
106
14
102*
102*
103
....
104*
.....
109
99* 105*
101* 103
m
"5
....
•
.....
107
"23
HI
6
103*
98*
78*
89
106*
93* 102
96
104*
104
104
100* 101*
101* 107*
108* 111*
.....
111* 113
110* no*
106"
111*
110*
ill* ""5
108*
111*
109*
32
105
104
105
22
154
106""
113
*110
110*
109*
1942 IVI
s
f 5s stamped
1942 IVI
s
1st Hen 6s stamped
30-year deb 6s series B
Flat deb s f g 7s
1942 IVI
s
1954 J
1946 J
D
1st lien
s
{♦Fla Cent A Penln 5s
1943 J
{♦Florida East Coast 1st 4*8—1959 J
♦1st A ref 5s series A
2335.
*101*
——
101* 103*
4
19
102*
103* 103*
102* 103*
2
*75
*61
D
1974 M S
♦Certificates of deposit
{ {♦Proof of claim filed by owner
♦Certificates of deposit
Fort St U D Co 1st g 4*s
1941
Ft W A Den C 1st g 5*s.
1961
Framerican Ind Dev 20-yr 7*s 1942
{♦Francisco Sug 1st s f 7*8—1942
♦Certificates of deposit
Galv Hous A Hend 1st 5*s A—1938
3
102
101*
63
....
75
72*
16*
16*
12
4
75
16* 1438
11*
16*
Fonda Johns A Glov 4*s
1952
{{♦Proof of claim filed by owner. MN
(Amended) 1st cons 2-4s
1982
*8*
MN
*4*
98
104
103*
99
101*
97* 103*
101* 104*
95
104
60*
52*
87*
56*
7*
75
61
16*
16*
9*
8
11
5*
-
7
4
839
6*
4
J
J
D
J
J
M N
105
"79*
4
8
107
J
107
3
105
107
105
105
3
105
106*
1
106
110*
86
107* 107*
79
79*
*75*
A
O
113
105* 112
105* 112
100* 109*
95
105
Gas A El of Berg Co cons 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
♦Gen Elec (Germany) 7s Jan 151945 J
J
♦Sinking fund deb 6*s
♦20-year s f deb 6s
1940 J
95
95
24
3*
35*
6*
80
80
95
2
81*
75*
95
{♦Ga A Ala Ry 1st cons 5s
1945
{{♦Ga Caro A Nor 1st ext 68—1934
♦Good Hope Steel A Ir sec 7s._ 1945
Goodrich (B F) Co 1st 6*8—1947
Conv deb 6s
*121
102*
105*
D
1948 IVI N
Gen Pub Serv deb 5*8
1939 J
Gen Steel Cast 5*s with warr. 1949 J
J
J
25*
J
A
10
101* 104*
21
101
106*
29
1
30
37*
37*
5
102*
105* 105*
*37*
39
37*
37*
37* 37*
30*
93*
23*
*25*
102
76
98
12
25*
25*
31
37*
104
2
188
103
90*
25
—
.
.
.
-
_
20
32
30
36
104*
*32'* "36*
108* 108*
104* 105
74
107* 108*
104
105*
104
103* 105*
41
103
101
99* 101*
46
98
152* 164*
70
66
164*
100
104*
108
110*
J
1945 J
1941 J
102
103
93
Goodyear Tire A Rub 1st 5s—1957 IVI N
Gotham Silk Hosiery deb 6s w wl946 IVI s
{{♦Gould Coupler 1st s f 6s
1940 F A
Gouv A Oswegatchle 1st 5s
1942 J D
Gr R AI ext 1st gu g 4*s
For footnotes see page
102
105
111* 112*
.....
*112*
*107*
*106*
MN
107
102*
104
118
106*
110*
*112*
*104*
1059,6
105* 108*
108* 112
....
105
103*
98*
cm Wabash A M Dlv 1st 4s. 1991
St L Dlv 1st coll tr g 4s
101*
104
....
—1941
1963
1977
1939
lmpt 5s ser D
Ref A impt 4*s ser E
Cairo Dlv 1st gold 4s„
109*
J
Cleve Cln Chi A St L gen 48—.1993
General 5s serial B
1993
Ref A
85
101*
IVI N
J
104*
102*
102*
86*
9
50
109
J
162*
10
*100
110* 110*
1
106
101*
New-York Bond Record—Continued—Page 4
Volume 143
Last
BONDS
N. Y. STOCK
Range or
Price
Bid
&
Asked
General 5%s series B
F
J
J
J
1973
J
J
-
General 4 %s series D
General 4%g series E
Gen mtge 4s ser G
♦Debentures ctfs B
J
J
J
J
1940
A
104%
122H
108%
O
96%
5
91
91%
114%
20
115%
111%
105%
116
63
111%
23
104%
105%
81
122%
108%
299
114
119%
107%
1942
105
*80%
135
86
-
J
*80%
102%
102%
108
1949
J
1999 J
..1944 A O
1937 M N
J
..1937 J
♦Harpen Mining 6s
Hocking Val 1st cons g 4 Ha
♦Hoe (R) A Co 1st mtge
t ♦Housatonic Ry cons g 5s
H & T C 1st g 5s lnt guar
Houston Belt A Term 1st 5s.-.1937 J
J
Houston Oil sink fund 5Ha A..1940 M N
Hudson Coal 1st s f 5s ser A—.1962 J D
Hudson Co Gas 1st g 5s
-.1949 M N
Hud A Manhat 1st 5s
ser
A..—1957 F
A
A
O
♦Adjustment Income 5s.Feb 1957
*123%
84 H
76%
"102 H
102
59%
"§4~
36
1951 M
Collateral trust gold 4s
1952
Refunding 4s
1955 M N
Purchased lines 3 Ha
1952
Collateral trust gold 4s
1953 M N
1955 M N
94H
A
95%
A
*90%
93%
94%
85
83%
*105%
*95%
D
93%
88%
107%
Ind Bloom A West 1st ext 4s__1940 A
Ind 111 A Iowa 1st g 4s
1960 J
O
*105%
D
90
103
J
45H
J
Imp mtge 3%s aer B..1986 IV1 s
1961 F A
J
{ Interboro Rap Tran 1st 5s...1966 J
♦Certificates of deposit
—
-
-
94%
80
96
89
10
232
32
312
86
108
---
-
---
-
102%
2
86%
----
-
---
-
--
-
-
8
94%
-
----
9
99%
95%
303
90%
107%
170
-
1
-----
105%
79h
81H
6994
68%
94
1
40
....
105%
90
87
100%
87
95 H
90 H
108 H
105
99 h 103
47 H
2194
105
10854
104
107
96
65 H
60 H
48
48
50
4
93 %
93
94%
25
92
93
19
J
♦1st g 5s series C
1956 J
J
1944. A O
65%
1941IA
A
J
J
102
96
9694 102 %
11594 164
88 h
10094
81h 98 H
68
9154
79 h
99H
87
88%
197
81%
264
71 h
95
3%
17
1h
4
99%
103%
106%
62%
58%
91%
99%
108%
103%
80
36
1
43
8494
995
102% 1045
102
107
4094
3794
6254
26
205
74 h
91 H
153
67
9994
8
30
50
33
33
25
25%
96%
17
5894
10994
102 94 106H
102
-----
98
10354
—
—
-
----
102
107
10394 10354
103%
1
103 h 106 H
162
1
155
106%
107
52
116
2
119
103%
13
110%
16
48%
102%
74%
156
18
163
10394 10894
112H 11694
119
102%
*69
75
49
83
72
1942
1997
♦Certificates of deposit
Lehigh C A Nav s f 4 Hs A
29H
1954
Cons sink fund 4 Hs ser C...1954
Lehigh A New Eng RR 4s A... 1965 A O
Lehigh AN Y 1st gu g 4s
1945 M
Lehigh Val Coal 1st Aref s f 5s 1944
100%
♦104%
105%
103 %
105
100%
5
—
122
9994 10354
104 h 11354
14
-----
105
92%
100
4
47
---.
73%
41
1st A ref s f 5s
1974
72
69%
98%
72
76
2335.
104
10094 104 H
99 h 105 H
105
77
page
77
1005*
98
76
For footnotes see
108%
102%
109%
107% 111%
103% 110 %
101% 104%
107%
102%
""94""
98%
104
94
47
5
27
93%
113%
99%
113%
7
99%
61
113
113
*88
98
105
81
109%
94
111% 114
86
1
108% 113%
88
99
88
103% 104%
104
104%
104%
24
102%
102%
103
37
99% 103%
104%
103%
104
103
104%
85%
61%
61%
62
76
85%
337
23
61%
128
22
61%
78
58%
61%
71%
53%
34%
Gl
50%
59%
56 H
55
57
27
36
36
10
*100
91
68
50%
100
96"
74
96%
*71%
81
61
89%
*37
39%
34%
36%
97%
97%
95% 100
78%
*90
97
102%
i!oi%
j,96%
97%
102%
100
103
105%
105%
105%
109%
102
106%
108
110%
104%
100% 104%
108%
103%
14
*1%
1977 M S
♦Miag Mill Mach 1st s f 7s
1956 J D
Michigan Central Detroit A Bay
City Air Line 4s
1940 J
J
Jack Lans A Sug 3Hs
1st gold 3Hs
1951 M S
1952 M N
1979 J
J
Ref A lmpt 4Hs series C
Mid of N J 1st ext 5s
*104%
15
18%
1%
23%
29%
90
*
109
106%
105%
103%
104%
106%
95%
104%
104%
*80
*87%
83%
40
38%
91
85%
42%
21
9
57
34
94
104% 109%
98% 106%
67%
97%
101% 105%
101% 106
90
84
3%
102% 104%
__
*91
94
{{♦MIlwANorlst ext4 Hs(1880) 1934
1st ext 4 Ha
1939
Con ext 4Hs..
1939
8
{♦Mil Spar A N W 1st gu 4s...1947
J
{♦Mllw A State Line 1st 3 Ha—1941
{♦Minn A St Louis 5s ctfs
1934 MN
♦1st A refunding gold 4s
1949 IVI S
♦Ref A ext 50-yr 5s ser A
1962 Q F
11
2%
l04%
-.1940
Mllw El Ry A Lt 1st 5s B.....1961
1st mtge 5s
.<
1971
M St P A S3 M con g 4s lnt gu.1938 J
1st cons 5s
...1938 J
1st cons 5s gu as to lnt
1938 J
J
71%
4
54
73
1st A ref 6s series A
1st Chicago Term s f 4s
ser
8
4
70
21
3554
31h
32 H
10454
104 H
104j4 105 H
57
9254
97
39%
34%
42%
264
J
33%
41
33%
30
"92""
95
60%
88
32
49%
91%
"48%
45%
Mohawk A Malone 1st gu g 4s. 1991 M 8
Monongahela Ry 1st M 4s ser A'60 M N
39
49
31%
93%
83
83
""58
36
49%
99
76
134
81%
73%
45%
43%
17%
286
412
59%
49%
52%
30%
27%
26%
10%
46
517
27
46
26%
27%
26%
7%
27%
26%
43%
45%
353
27
46
62
27
43%
67
45
41%
16%
42%
41
45
42%
42%
13%
41
1938 M S
52
23%
18%
81%
8
23
215
43
.1977 M S
42 %
38
77%
"l7%
{♦Mobile A Ohio gen gold 4s... 1938 M S
♦Montgomery Dlv 1st g 6s—1947 F A
46%
29
90
M~S
♦Certificates of deposit
♦Mo Pac 3d 7s ext at 4% July..l938 MN
32%
11
87
43
O
6
4
77%
81
1949 MN
79
13%
90
J
J
.1978 MN
1%
2%
95
96
s
5
49%
96%
D
—
33%
31%
92%
70
75
*94
72%
45%
1977 IVI
43
"11"
45
46
43%
"45%
42%
43%
45%
43%
14%
45%
43%
^4i%
*
43%
99%
70
246
2
71
153
22
348
215
37
82
81%
73%
45%
43%
17%
43%
14%
45%
43%
100
97
35%
24%
32"
36
22
24%
70
26
23
26
85
96%
41
96%
96%
90
77%
112
110%
95%
110%
111
8
14%
9
9%
85%
36
24%
26
96%
105% 111
Monongahela West Penn Pub Serv
1st mtge 4 Ha
6s debentures
77
Montana Power 1st 5s A
100
36%
33%
J
♦Certificates of deposit
♦1st A ref 5s series G
7354
98
39%
A
♦1st A ref 58 series F__
64h
5394
8254 104
8
O
1975
60
72
3%
1978 J
♦Certificates of deposit
Mont Cent 1st gu 6s
1st guar gold 5s
10194
3%
.1965 F
A
♦General 4s
♦Ref A lmpt 4Ha...
♦Sec 5% notes
"3%
Jan 1967 A
♦Cum adjust 5s ser A
""49
16
75%
79%
Prior lien 4 Hs series D
{♦Mo Pac 1st A ref 5s
13
5%
"42%
J
12
5%
J
..1941 M N
{♦Mo-Ill RR 1st 5s series A
1959 J
Mo Kan A Tex 1st gold 4s
..1990 J
Mo-K-T RR pr lien 5s ser A...1962 J
40-year 4s series B
1962 J
"13"
J
1981 FA
98
103
107% 109%
16
38
J
O
♦1st A ref 5s series I
47
71
"163"
99
110
1945 M N
80 H
64
77
1954
109%
D
87
104%
104%
73
.1938
1943 J
65
31%
104%
103%
7
1964
Secured 6% gold notes
102% 105%
109
109%
J
64 h
1
....1954
Leh Val Harbor Term gu 5s
102H
1959 IVI N
Mfrs Tr Co ctfs of partic in
A I Namm A Son 1st 6s
1105j2 113
107% 110
109%
109""
"ios"
36
1st ext 4s
133%
122%
99%
33
5
♦2d 4s
2013 J D
Manila Elec RR A Lt s f 5s
1953 M 8
Manila RR (South Lines) 4s...1939 IVI N
1980 A
144
90
105
102%
99% 105%
1
51%
♦Conv gold 5Hs
♦1st A ref g 5s series H
♦Certificates of deposit
32%
31%
*98%
98
110
61H
61H
4894
98h 10254
66
8054
67 h
—
1st A ref s f 5s
1st A ref s f 5s...
42 h
105%
29%
101
7
102%
{{♦Manati Sugar 1st 8 f 7 Ha
♦Certificates of deposit
{♦Manhat Ry (N Y) cons g 4s. 1990 A O
♦Certificates of deposit
♦Certificates of deposit.
Coll tr 6s series B
99%
110
83
J
89
101%
72%
110532
85 H
1960 J D
1942 A O
1978 J
102%
—
105%
1
47
111
45%
74%
104% 106
103% 105%
102%
110
.
1st ref 5%s series B
115
73%
Lake Sh A Mich So g 3 Ha
.
Gen uitge 4Ha.ser A
9654
107
71
♦Lautaro Nitrate Co Ltd 6s.._1954
f deb 5sl95l M N
McKesson A Robbinsdeb 5H8.1950 M N
Maine Central RR 4s ser A
.1945 J
D
s
92
6
72
100 %
McCrory Stores Corp
s
114
47%
110532
South Ry joint Monon 4s
Atl Knoxv A Cln Dlv 4s.___1955 M N
♦Lower Austria Hydro El 6 Ha. 1944 F A
1946 J
1949 IVI
104)4
1942
1941
8
1945 M S
1952 J
J
25-year 5Hs.
102
1960
1937
1980 M
38 H
32
2
Coll A ref 5 Ha series D
Coll tr 6s series A
Lake Erie A West 1st g 5s
2d gold 5s
A
32
109
73
1946 F
22
115%
73H
2003 A O
2003 A O
D
2
162
102
1st A ref 4 Hs series C
J
O
39
*104%
47 H
2003 A
43
-
{♦Kreuger A Toll secured 5s
Uniform ctfs of deposit
1959
Laclede Gas Light ref A ext 5s. 1939
Coll A ref 5Hs series C
1953
8
40
-
104
*118
1940 J
1st A ref 5s series B
ser
M
1937 M N
12
-
*99%
103%
Louis A Jeff BdgeCogu5 4s___1945
Louisville A Nashville 5s
Unified gold 4s
35
—
114
107
102
96
107
29
*104%
103%
105
102
♦Mex Internat 1st 4s asstd.
76%
14
84
79 H
172
"97
104%
105
104%
137
121% 127
118
65 j4
4
99%
*105%
*104
125
131
131
7394
-
115
45
108
a66
73%
78%
86%
103% 108
7
3694
-
125%
'"21
5
809
—
135
146
73%
102
3
128
98%
110%
45
95%
1961
98H
a65%
108
132%
33
71
*25
1937
99H
Metrop Ed 1st 4 hb ser D
1968 m 8
Metrop Wat Sew A D 5 Ha
1950 A O
{{♦Met West Side El (Chic) 4s. 1938 F A
80
%
40
122%
46 H
7
96
34
62
122%
97 %
32J4
123
98%
103
128
86%
High
81% 102 %
132%
Mead Corp 1st 6s with warr
*40
96H
33%
Low
28
132%
Marlon Steam Shovel s f 6s
1947 A
Market St Ry 7s ser A
April 1940 Q
95%
98%
108%
103%
213
High
"~98H
1454
98%
103%
98 H
102%
73%
78%
72
O
1944 A
47 H
3%
108 H
103 H
101%
Jan. I
1951 F A
Louisiana A Ark 1st 5s ser A
1969 J
J
Louisville Gas A El (Ky) 5s...1952 M N
Lorlllard (P) Co deb 7s...
5s
9
9894
60%
57%
Guar ref gold 4s
34
75 h
90
deb 5s
183
118
58 H
p m
184
79%
61%
Unified gold 4s
20-year
13%
38%
38%
98%
90 H
78%
85
1950 A O
1938 J D
1949 M S
1937 M N
1949 M 8
40
90 h 102
106%
Long Dock Co 354a ext to
Long Island gen gold 4s
A
274
75
87
73
D
164
*106%
Kings Co Lighting 1st 5s
1954
First and ref 6 Ha
1954
Kinney (G R) A Co 7 H % notes 1936
Kresge Foundation coll tr 4s..1945
9894
23
1961
Purchase money 6s
1997
Kings County Elev 1st g 4s...1949
86 h
116
96
1946 F
{♦ManGB AN W lst3%s.._1941 J
74
98%
James Frank A Clear 1st 4s... 1959 J
1950
Apr 1950
Kansas City Term 1st 4s
1960
Kansas Gas A Electric 4H8—.1980
♦Karstadt (Rudolph) 1st 6s...1943 MN
♦Ctfs w w stmp (par 1645).. 1943
♦Ctfs w w stmp (par $925).. 1943
♦Ctfs with warr (par $925). .1943
Keith (B F) Corp 1st 6s
1946 IM 8
Kendall Co 5 Ha
1948 M S
J
Kentucky Central gold 4s—1987 J
Kentucky A Ind Term 4Hs—1961
Stamped.....—.
1961
96H
102
95
A
Kan City Sou 1st gold 3s
Ref A lmpt 5s
8794
97
99%
*101%
{♦Iowa Central Ry 1st A ref 4s_1951 M
D
Jones A Laughlln Steel 4%s A.. 1961 M S
Kan AM 1st gu g 4s
..1990 A O
{♦K C Ft S A M Ry ref g 4s..1936
♦Certificates of deposit
45 h
90
9594
72%
O
Internat Paper 5s ser A A B...1947 J
Ref s f 6s series A._
1955 M 8
lnt Rys Cent Amer 1st 5s B...1972 M N
lBt coll trust 6% g notes
1941 IVI N
1st lien A ref 6 Ha
19471F
lnt Telep A Teleg deb g 4 Ha.. 1952 J
Conv deb 4Hs
1939 J
Debenture 5s..
1955 F
38
9954
7194
6794
53%
1956 J
101
10694
25
102%
A O
1952 J
1st A ref 4s
23
♦1st 5s series B
Loews Inc s f deb 3Hs
Lombard Elec 7s ser A
Paducah A Mem Dlv 4s
St Louis Div 2d gold 3s
Mob A Montg 1st g 4 Hs
95
J
Since
Asked
*108%
95
54
O
Range
&
Little Miami gen 4s series A.i.. 1962 M N
Liggett A Myers Tobacco 7s
8754
93%
52%
157%
36%
12%
35%
36%
{♦IntrGrt Nor 1st 6s ser A
1962 J
♦Adjustment 6s ser A—July 1952 A
id
A O
1944 A O
1951 F A
Leh Val Term Ry 1st gu g 5s.-.1941
Lex A East 1st 50-yr 5s gu
1965
87
103 h
24
Price
77%
84 H
107H
*124%
134%
124%
75
89 h
87 94
98%
94
10294
75
Range or
Friday's
Low
lstgu g 4Hs--—-1940 J
J
Lehigh Val (Pa) cons g 4s_
2003 M N
General cons 4 Ha
2003 IVI N
General cons 5s
2003 M N
82
148
98%
99%
Week's
Last
Sale
Leh ValN Y
7294
96
"l62"
105 H
91h 102
94
95%
8754
9094
29
....
Friday
H
96
86
6494
103% 10654
105
----
46%
108%
89 H
94
98
10894
87 h
—
mm.rn.rn.
8994
3954
101% 105
102 % 10294
92 H
—
Interlake Iron 1st 5s B.
1951IVI N
lnt Agrlc Corp 6s stamped 1942
M N
Internat Cement conv deb 4s. .1945 M N
4%s unguaranteed
Kings County El L A P 5s
——
*103%
105%
—
7% notes....1932 M~S
Plain
—
104
48
1932 AO
Internat Hydro El deb 6s
lnt Merc Marine s f 6s
-
38
Nft,
68
10594 112
-
——
119h 124
93 H
♦Certificates of deposit.
conv
— -
— —
103
45
*105%
Ref A
{♦10-year
5954
105%
O
♦Certificates of deposit
103 H
38 h
26 h
-
89
100 h
125
m
86
14
36
J
3794
12494
102% 105
102 % 105 H
34%
A
Inland Steel 3%s series D
h
64 h
72%
99%
J
31h
198
30
3*
BONDS
N. Y. STOCK EXCHANGE
107% 110H
92
J
{♦10-year 6s
102%
102%
59%
108%
A. T. A T. Tele. N. Y. 1-1598
Week Ended Oct. 9
84
94%
*100
1965 J
8294
104 H
81%
107%
NEW YORK
Wall St.
63
Telephone Whitehall 4-2900
10394
101
5
*87%
1956 J
90
124
102%
*86%
1963 J
{♦Ind A Louisville 1st gu 4s
Ind Union Ry 5s series B
1
4
105
Western Lines 1st g
111 Cent and Chic St L A N O—
1963
—.1940
5
77
102%
L05j
3 Ha.—1951
4s
1951
1st A ref 4 Ha series C
-
-
Members New York Stock Exchange
7294
1494
Co.
D. H. SlLBERBERG
105 H
81h 101
75 h
77 H
44
89
g
Joint 1st ref 5s series A
7h
116
"96"
1951
Illinois Steel deb 4Hs
60
8
86%
90%
St Louis Dlv A Term g 3s...1951
Gold 3HS
1951
Springfield Dlv 1st
54
96 h
109 h 12254
99 h 10854
4
86%
J
Cairo Bridge gold 4s
1950
Litchfield Dlv 1st gold 3s... 1051
Loulsv Dlv A Term g 3 Ha...1953
Omaha Div 1st gold 3s
102
H
103% 112%
96 h 10694
86
*103
1st gold 3s sterling
Aug 1 1966 F
6
-
*104%
1951
Refunding 6s
40-year 4%s..
76%
102%
102%
91
124
*110
A
Extended 1st gold 3 Ha
J
123%
84%
99
81h
69
27
-
_
88%
FOR BANKS AND DEALERS
107 h 115
107 h 116
123%
1951 J
-
-
109
108
*30
108%
Illinois Bell Telep 3 Ha ser B—.1970 A
Illinois Central 1st gold 4s
1951 J
3Hs
-
«*---«
D
-
95
106 % 109
--
---_
101
100
J
1952
Hackensack Water 1st 4s
102
--
J
Stamped
Gulf States Steel deb 5 Ha
151
----
13%
109
*102%
101
J
37
82
12%
*108
29
106
*72%
"13"
O
A
Gulf & S 1 1st ref A ter 5s Feb 1952 J
1st gold
111%
105H
M N
1950
1950
Greenbrier Ry 1st gu 4s
Gulf Mob A Nor 1st 5%s B
1st mtge 5s series C
91H
114%
115%
Feb
Feb
;
90
96
A
J
High
97
*95
D
-.1976
1977
1946
Gen mtge 4s ser H
1946
♦Green Bay A West deb ctfs A
General 5s series C
Since
BROKERS IN BONDS
1944
-1950
A--1961
1952
Great Northern 4%s series
Range
Jan. 1
High
Low
Grays Point Term 1st gu 5s —.1947 J
Gt Cons El Pow (Japan) 7s
let A gen s £ 6%s
is
Friday's
Sals
EXCHANGE
Week Ended Oct. 9
2333
Week's
Friday
1960 A
O
108
107%
108
45
106% 108
...1965 A
O
108%
103%
108
108%
104%
20
107% 108%
10
103%
102%
106%
97%
66%
1937 J
J
...1937 J
J
1943 J
J
.1962 J
D
Montecatini Mln A Agrlc deb 7s '37 J
J
Deb 5s series A...
103%
*102%
"I67"
106%
102%
167" "~43
a93
a93
103%
29
3
105%
104%
108%
104%
97
Friday
Friday
Y.
Range or
Friday's
Sale
EXCHANGE
STOCK
Bid
Price
Week Ended Oct. 9
&
Gen & ref
s
Gen & ref s
Gen & ref s f 5s series D_—1955
—
10234
1023*
8634
-
Son—See Mfrs Tr
1978
5s
1937
g 4s stpd
1951
F
A
Nassau Elec gu
J
1942 J
♦434s
♦4Ms
♦4Mb
♦Assent warr & rets No 4 on '57
♦4s April 1914 coupon on... 1977 A
♦4s April 1914 coupon off...1977 A
♦Assent warr & rets No 5 on *77
Nat RR of Mex prior lien 434s—
♦Assent warr & rets No. 4 on. 1926 J
♦4s April 1914 coupon on
1951
off...1951
♦4s April 1914 coupon
♦Assent warr & rets No 4
Nat Steel 1st coll
s
g
A
1954
4a
cons
A
673*
107
1063*
10534
10534
D
1945
J
1945
N J Junction RR guar 1st 4s...1986 F
N J Pow A Light 1st 4^8
1960
*234
*234
-
n-c
-
—
10634
*663*
—-
69
1233*
3
32
1063*
70
....
15
1233*
6134
3
7
70
76
12634
12334
3
---
-----
943*
73
83
21
9934
993*
9934
9934
100
35
97
993*
9834
47
9834
44
40
44
66
47
5234
513*
5234
5034
5534
313
5034
6
A
A
513*
4734
443*
503*
473*
50 34
543*
O
5034
60
164
9
109
188
J
1945 J
1944 MN
F A
1998
N Y Cent RR conv 6s
Consol 4s series A
10-year 3J*s sec s f
1946
Ref & impt 4Hs series A
2013
Ref & impt 5s series C
.2013
N Y Cent & Hud River M 3 Hs.1997
Debenture 4s
....1942
O
Ref & lmpt
2013
1998
1998
1937
1013*
102
o
Lake
123
*11134
1193*
1013*
1013*
953*
10134
10134
A
4348 ser A
Shore coll gold 334s
Mich Cent coll gold 334s
N Y Chic & St L 1st g 4s
o
o
J
953*
10134
10234
95 3*
o
N Y Dock 1st gold 4s
1951
Serial 5% notes
N Y Edison 3 34s ser D...
N Y & Erie—See Erie RR.
1938
1965
N Y Gas El Lt H <fc Pow g
5s..1948
J
1949
F
1946
2000
5s
9534
993*
10734
95%
100
-----
65
-----
103
D
*1083*
6434
6134
1023*
4348 series B
A
A
1955 J
♦Non-conv debenture 4s
*10734
1956
J
12
10734
-----
....
8
65
623*
7
10334
112
1948 J
♦Collateral trust 6s
1940 A
♦Debenture 4s
of 1927.. 1967 J
..1965 J
N. Y. A Richm Gas 1st 6s A..1951 Wl N
1947 Wl N
...1951 Wl N
1st mortgage 5s..
....1956 MN
J
N Y Susq A West 1st ref 5s
1937 J
2d gold 4 34s
1937 F A
General gold
5s
1940 F A
Terminal 1st gold 5s
1943 WIN
1st mortgage 5s..
N Y Telep 1st A gen s f 434s
N Y Trap Rock 1st 6s
1939
1946
1946
62
31
3434
30J4
293*
34
103
323*
103
35
39
189
45
4834
2134
1934
2134
106
39
35
39
139
893*
52
45
{{♦Norfolk South 1st A ref 58—1961
j ♦Certificates of deposit—
{{♦Norfolk A South 1st g 6s...1941
N A W Ry 1st cons g 4s
1996
Pocah C A C Joint 4s^.
1941
F
483*
4834
10634
10734
-----
10734
5
109
108
109
42
10734
10734
8834
10734
1073*
15
9034
---.-
-
10934
85
90
1334
10634
-----
634
9834
44
32 34
5534
5034
--
98
9634
8634
10134 10434
82
7034
88
10534
107
96
100
52
12234 12634
11334 117
9234 10034
102
2534
39
24
37
2434
2434
3834
3734
3734
3734
25
2334
2634
3534
1534
5134
2634
28
4034
8434 101
103
8234
5634
4934
10334
95
i
10434 10734
3134
5334
9934 107
10534 10834
108
111
10634 10734
106
10734
-
100
10334
10934 11134
10
80
80
96
49
1234
2234
62
64
10534 107
10534 108
9634 104
82
11334
D
1053*
10434
105
A
1033*
104
1053*
-
-
-
-
1053*
*124
*1183*
1234
1234
155
2234
2134
6334
63
51
16
115
106
65
10434
66
10434
10634
21
10534 10734
10334 10734
10234 10534
127
39
-
-
-
-
20
119
10734
100?*
10234
51
105
12
4
4
"l3
13
C
J
1941 M S
1970
1960 F A
1965 J D
1968 J
D
Debenture g 434s_
General 434s series D
Gen mtge 434s series E
1970 A
O
..1981 A O
J
1984 J
Peop Gas L & C 1st cons 6s... 1943 A O
Refunding gold 5s
1947 M S
cons
4s
34s.'.. 1974
101
11034
10634
1013*
1013*
107
75
102
5
1013*
1
93
101
2
101
10434
19
33
O
A
3634
3434
6134
65
37
"983*
623*
973*
55
65
10534
3734
116
73
39
3
72
19
10534
"713*
71
983*
*10234
10534
108
*107
1043*
1223*
7934
1023*
10634
*1073*
".7934
108
*1213*
79
'1123*
12034
105
10834
10834
"11534
60
104
1043*
96
9434
9734
10534
45
""l7
82
1023*
105
1023* 10734
10134 1053*
903* 99
105
1053*
10334 10734
10834 10834
*10734
106
42
1053* 1053*
7
105
3234
73
4934
11934 12234
10434 10634
1063*
*1043*
83
983*
10234 15134
101
10634
1043*
9734
115""
271
5934
1063*
*11134
115
1153*
115
115
123
"29
10
187
1053* 10734
11034 11334
11134 1153*
11134 1153*
101
1013*
12234
12234
17
10034 10234
1183* 123
11134
11234
1203*
49
109
54
10534
1093*
1-0834
12134
1153*
122
11534 12134
9934 106
10534 11134
10534 11134
11934
1043*
108
10834
12134
46
64
12
26
9734
1834
1153*
9734
1734
1123*
1834
U23*
143
To6~~
1053*
98
74
1
114
11534 12134
10634 115?*
76
9834
9
1934
1083* 1123*
983* 1063*
1063*
39
9934
993*
43
89
100
S
102 34
80
89
1943 MN
11334
1253*
10234
11334
1
111
1033*
11334
120
12834
113
118
9934
102 34
1974 F
A
J
General g 434s series C
1977 J
—General 4340 series D__—_ ..1981 JD
D
Phlla Co sec 5s series A
1967 J
Phila Elec Co 1st & ref 434s
1967 MN
104
A
& I ref 5s. .1973 J
1949 Wl
J
144r34- 11434
1063*
1063*
10734
104
2834
S
29
..1937 J
48
47
2834
28
J
Philippine Ry 1st s f 4s
Pillsbury Flour Mills 20-yr 6s.. 1943 A O
Pirelli Co (Italy) conv 7s
.1952 Wl N
10634
*
11134
*1123*
..1945 MN
1949 F A
Series E 334s guar gold
Series F 4s guar gold
10734
10434
4934
2934
9Q
10634
1
84
6
49
96
159
41
4
82
1940 A O
1942 A O
1942 MN
434s A...
Series B 434s guar
Series C 434s guar
Series D 4s guar
130
*117
1063*
1073*
1971 F
1st & ref 4s
1953 J
11134
1223*
12034
1213*
121
121
5
1073*
108
13
.1977 J
J
J
Va^JT43*8
...I960 A O
4343 series C
lll*z
11434
121
11534 122
116
1213*
107
110
1093* 110
9534
"9534
9534
95
9534
9434
943*
D
ser A...1958
1st M 434s Series B
1958 A O
1133*
118
13
*110
1943 MN
114
111
*12234
*12134
General 434s series C
85
10834 10834
1153* 12134
A
General mtge 5s series B
34
109
11234
109
11134
1963 F
1964 Wl N
1053*
11234
1053* 10634
*112
1970 J D
1975 A O
3234
110
A
434s
55
153*
253*
111
*111
D
109
37
111
II3"
*10434
T__1957 MN
105
1033* 10834
111
11234
*11234
113
11534
1033* 107
no
70
."...I960 F
General M 5s series A...
1st M
10434
82
J
Phila Bait & Wash 1st g 4s
General 5s series B
Series J cons guar
102
10234 10434
105
1083*
37~" """5
J
Series G 4s guar
Series H cons guar 4s
Series I cons 434s
1053* 107
993* 102
37
1956 J
Reading C
73
37~"
Apr
F
...1980 Wl
434s series C__
Phlla &
55
1003* 104J4
10634 110J4
353*
ser A 6s...1956 J
Marquette 1st
1st 4s series B
1st g
1940 A
April 1990
Peoria & Pekln Un 1st 5
10034 104
110
136
121
1233*
10834
9834 1033*
1003*
D
Consol sinking fund 434s
General 434s series A
Peoria A Eastern 1st
118
71
'161)*
ser
1113* 115
109
11334
953*
73
96
9
75
61
74
9534
9534
93
356
--
121
107
'l0634
Pitts & W
51
12
434s..-I960 J D
Pa Ohio & Det 1st & ref 4 34s A.1977 A O
J
434s series B
1981 J
Pennsylvania P & L 1st 434s..1981 A O
Pennsylvania RR cons g 4s
1943 Wl N
72
16
--
120
Penn Glass Sand 1st M
Pitts C C & St L
36
3234
12434
-----
Penn-Dixle Cement 1st 6s A
Conv deb 6s
41
91
18
s
1952 Wl N
....1963 F A
E trust ctfs
28-year 4s
Pere
108
10034 10334
10434 10534
10534 10734
10034 10034
104
17
ser
♦Income 4s
107
107
19
J
Wl
J
General 5s series B...
75
116
17
334s trust ctfs D
334 s
109
10634 10834
59
7734
10234
1734
A
Parmelee Trans deb 6s
1944 A O
Pat & Passaic G & E cons 5s.. 1949 Wl s
♦Paulista Ry 1st ref s f 7s
1942 Wl s
Pitts Va & CharJst 4s guar
1073*
11934
120?*
"120"
Consol gold 4s
...1948 Wl N
4s sterl stpd dollar May 1.1948 Wl N
A O
Gen mtge
90
117
1834
1968
1953
9234
3
F
1955 J
87
-
11334
3634
Paris-Orleans RR ext 534s.
54
37
11334
112
11334
1133*
37
Paramount Pictures deb 6s
10234
9634
1013* 1033*
1113* 11534
101
Guar 4s
107 34
111
10334
96
7434
8034 10234
7434
112
1
3
10634
1944 J
98
"24
112
110
Guar
100
113
1003*
Guar 334s trust ctfs C
124
89
993* 103
24
6934
10234
9734 10234
109
64
113
11334
1937
Penn Co gu 334s coll tr A
Guar 334s coll trust ser B
110
"~18
10134
11534
1937 M S
1941 F A
1942 J D
109
35
112
1938
1938
f {♦Park-Lexington 6 34s ctfs
1073* 109
-
10134
-
r
107
10434 10734
11234
1023*
Ref mtge 334 s series B
Paducah & 111 1st s f g 434s
100
6
106
1073*
J
1st & ref mtge 334 s ser H—1961
8834 100
-
36
108
103
1043*
*10534
"Il234
*10034
1966
1955
{{♦Pan-Am Pet Co (Cal) conv 6s '40
♦Certificates of deposit
Paramount Broadway Corp—
1st M s f g 3s loan ctfs
1955
—
5
393*
1093* 1093*
10434 10634
s
Pacific Tel & Tel 1st 5s
106?*
10834
"33
"96
106
S
83
108
1053*
10534
*109
10634
1941 Wl
9434
11234
10934
10634
3134
1963 Wl
Pac RR of Mo 1st ext g 4s
♦2d extended gold 5s
853*
1033*
99J* 1093*
1203*
D
1961
62
10334
*107
cons g
7434
115
1945 Wl N
4s—1946 J
5s... 1946 J
1946
75
30
33
1947
1943
com g
10034
104 J* 11234
10134
J
1948 J
1943 M S
Pacific Coast Co 1st g 5s
1946
Pacific Gas & El gen & ref 6s A.1942
1st & ref 4s series G
.1964
102
5234
5134
5234
5034
100
29
Otis Steel 1st mtge 6s ser A
10534 10834
5134
3334
3
109
Oslo Gas & El Wks extl 5s
12654
11934 12334
2434
3234
109
1083*
*10634
"161'
1937
Guar stpd cons 5s
Ore-Wash RR & Nav 4s
122
8034
93
107
108
Ore Short Line 1st
10334 10734
6134
7734
12034 12334
68
8334
4534
7734
89
141
198
106
Ontario Transmission 1st 5s
"4 k
100
1033*
11234
10834
45
85
F
Wl
6«
73
11134
10634
1
11034
J
S
1974
1974 Wl s
3H
65
102
10434
1st & ref 7s series B...
76
42
10534
Ohio River RR gen g 5s
Ontario Power N F 1st g
81 %
69
*10734
O
High
64
116
10534
46
10534
Nov 15 1969 MN
~ek
Low
8234
'10434
11
6734
*1033*
10934
90
100
83
66
1534
1063*
6
91
83
67 34
10534
A
42
1
A
F
87
----
10634
6234
12034
10534
S
3
95
12034
1957 Wl
46
10734
1073*
*
No Am Edison deb 5s ser A
For footnotes see page 2335.
1073*
493*
9434
634
2H
110
10334
—
12034
1961
Aug 15 1963
10334
933*
*10634
-
...
A
North Amer Co deb 5s
9
46
WIN
O
50
5334
46
81
90
5234
D
}~~j
.....
33
-
2J4
"10834
Ohio Edison 1st mtge 4s
1965 MN
Ohio Indiana <fc West 5s.-Apr 11938 0 J
Ohio Public Service 734s A
1946
"434
2H
103
1
105
17
-----
{♦N Y Westch A B 1st ser 1434sl946
M S
Niagara Falls Power 334s——1966
A O
Nlag Lock A O Pow lst5sA...1955
WIN
Niagara Share (Mo) deb 534s—1950
A O
Nord Ry ext sink fund 634s
1950
-----
22
...
2?4
No.
8134
8734
liok
O
Og & L Cham 1st gu g 4s..
Ohio Connecting Ry 1st 4g
3
High
10934
8134
1961 A O
1964 MN
J
Northwestern Teleg 434s ext—1944 J
Norweg Hydro-El Nit 534s—1957 MN
106
9434 10134
3134
MN
J
37
353*
J
N Y Steam 6s series A
----
293*
2934
D
Jan 1965 Apr
-
39
{♦N Y Providence A Boston 4s. 1942 AO
Prior lien 6s series A
-
~32~"
♦Harlem R & Pt Ches 1st 4s.l954 WIN
N Y A Putnam 1st con gu 4s...1993 A O
N Y Queens El Lt A Pow 3 34s. 1965 M N
—
4834
O
June 1992 M S
1955 J D
—
10134
34
1957 WIN
103
8234
1023*
11234
Ref mtge 4 34s ser B
Ref mtge 5s
_t
102
10434
10134 10834
Since
Jan. 1
109
110
O
A
1936
Range
Asked
*8234
J
F
1941 A
ser
1st & ref 6s ser B
7334
17
1003*
323*
J
5734
8134
*8234
1941 A
Nor States Pow 5s
97
10434
10134 10334
3434
J
♦Conv debenture 6s
183
3134
J
♦Conv debenture 334a
North Cent gen A ref 5s
Gen A ref 434s series A
100
353*
33
86
103
4
105
1956 WIN
Deb 534s series B
Deb 58 series C
553
12
*1073*
*10334
O
♦Non-conv debenture 4s
stamped...
96
12534
10134
{♦N Y & N Eng (Bost Term) 4s 1939
{♦N YNH & H n-c deb 4s... .1947 Wl S
♦Non-cohv debenture 3 34s. .1947 wrs
♦Non-conv debenture 3348—1954 A O
6s
58
26
11634
*106
Wl N
1973
{♦N Y Rys Corp ino 6s
190
11
11534
1163*
N Y L E & W Coal & RR 5348.1942 WIN
J
N Y L E & W Dock & Impt 5S.1943 J
N Y & Long Branch gen 4s
1941 M S
_
13
464
107
4)6
.1973 Wl N
WIN
N Y Lack & West 4s ser A
General 4s
,62
107
106
100
N Y & Harlem gold 334s
N Y O & W ref g 4s
391
1023*
10234
10234
Wl N
ser
127
431
96
125
Purchase money gold 4s
: l.
434s
147
102
10234
-----
O
1974
M S
Ref 434s series C
1978
3-year 6s
Oct 1 1938 A O
N Y Connect 1st gu 434s A
..1953
1st guar 5s series B
...1953
♦1st & ref
2202
106
96'
1013*
9534
10934 11634
10834 11034
84
__
124
963*
9734
9634
1023*
9534
A
Refunding 5 34 s series A
N Y Greenwood L gu g
107
-----
J
90
47M
^♦Certificates of deposit
N & C Bdge gen guar 434s
86
-
27
107 34
9334
52 34
83
2H
80
A
{Northern Ohio Ry 1st guar 5s—
♦April 1 1934 & sub coupons. 1945
♦Oct 1935 and sub coupons.. 1945
♦Stpd as to sale of April 1 '33 to
April 1 1935 incl coupons..1945
North Pacific prior lien 4s
1997 Q
Gen lien ry & Id g 3s Jan
2047 Q
Ref & lmpt 434s series A
—2047
Ref & lmpt 6s series B
2047
Ref & impt 5s series C
2047
Ref & lmpt 5s series D
2047
Nor Ry of Calif guar g 5s
1938 A
10313 610534
90
95
4k
3
943*
52 %
80
Bid
Low
High
10034 10434
8334
87
8534
88
Oregon RR & Nav
83
1954
♦1st 534s series A
107
107
♦Certflcates of deposit
♦1st 434s series D._
*103
_
A
inc 5S..1935
1956
1956
1954
126
126 3*
1955
♦1st 5s series C
6134
-----
1983
♦1st 5s series B
334
Price
Low
....
334
123
New Orleans Term 1st gu 4s...1953
{{♦N O Tex & Mex
....
534
Range or
Friday's
Sale
\
Week Ended Oct. 9
2%
5
3
-----
EXCHANGE
STOCK
Y.
Jan. 1
3
334
*234
*234
*234
1063*
N.
----
3
3
NO & NE 1st ref& lmpt 4 ?4s A.1952
New Orl Pub Serv 1st 6s ser A.1952
First & ref 5s series B
47
*234
J
New England Tel & Tel 5s A...1952
Wl N
1st g4^s series B
1961
139
*234
O
J
....
*3
J
J
25
10234
1073*
1053*
O
D
....
683*
6834
*234
Wl N
41
9634
1033*
D
New Orl Great Nor 6s A
2
96
O
5s.... 1948 J
{♦New England RR guar 5s
♦Consol guar 4s_
11634
*103
963*
tm
O
J
Newark Consol Gas
170
11634
'51
1965 J
f 4s.
{♦Naugatuck RR 1st
on
54
9534
D
W..1951 IVIN
Wl N
434s...1945
of Mex pr lien 434s
1957
Jan 1914 coup on._._.1957
July 1914 coup on
1957
July 1914 coup off
1957
Nat Distillers Prod deb
Nat Ry
1013*
*
Nat Dairy Prod deb 3?*s w
87
943*
*111
J
Nat Acme 1st s f 6s
26
933*
11634
Since
84
....
88
9934
95 34
A
F
Nash Chatt & St L 4s ser A
....
-----
94 %
101
gtd 0s ext at 5%—1941
Nash Flo A S 1st gu g
16
....
103'3l6 10334
-
933*
M N
No.
Hioh
85
*
A
Constr M 434s series B—..1955
M N
Mutual Fuel Gas 1st gu g 5s...1947
M N
Mut Un Tel
Namm (A I) &
*8634
-
*8634
J
a f
—
*
1939
2000 J D
M N
1956
434s
Morris & Essex 1st gu 334s
Constr M 6s series A__
Morris & Co 1st
—
—
Gen & ref s f 5s series A
Bonds Sold
Asked
Low
31023*
1941 J
A
1956
f 5s series B
1955 A
A
f 4 34s series C--1955
Montreal Tram 1st & ref 5s
BONDS
Range
10,
WeeVf
Last
Week's
Last
BONDS
N.
Oct.
New York Bond Record—Continued—Page 5
2334
122
10334 106
10134 107
120
12134
11234 115
Pitts Y & Ash 1st 4s ser A
1st gen 5s series B
1st gen 5s series C
1st 434s series D._
Port Arthur Can & Dk 6s A
1st mtge 6s series B
110
11134
11934 11934
*11134
*11934
1948
1962
1974
1977
*116
"773*
10834
1033*
104
10334
104
1953
1953
10334
78
14
1
139
773* 10434
793* 10434
663* 803*
1043* 108
643* 82
2734 4134
J
1st 5s 1935 extended to 1950
Porto Rlcan Am Tob conv 6s.. 1942 J
J
{♦Postal Teleg & Cable coll 5s _ 1953
J
'"8134
7734
*1063*
7834
"8134
"33
J
373*
373*
-4034
935
J
J
J
J
1043*
11934
10434
11834
1043*
1193*
91
10434 1043*
80
1193*
595
9
2134
79
9234
11034 13134
10234 1053*
913* 103
Port Gen Elec 1st 434s ser C—1960 M S
Potomac Elec Pow 1st M
33*sJ1966
{{♦Pressed Steel Car conv g 5s. 1933
{♦Providence Sec guar deb 4s..1957
{♦Providence Term 1st 4s..-.1956
Pure Oil Co s f 4?*s w w
1950
43*8 without warrants
1950
Purity Bakeries s f deb 5s
1948
{♦Radlo-Keith-Orph pt pd ctfs
for deb 6s & com stk (65% pd)...
{♦Debenture gold 6s
...1941
J
*87
Wl N
114
11734
Wl
s
J
J
J
J
J
J
J
D
*10034
J
D
883*
11634
*1043*
"993*
18
163*
9034
16
98
10434
993*
"75
158
883*
63
158
883*
Volume
EXCHANGE
ll
Week Ended Oct. 9
.3
Friday's
Gen <fe ref 4Ha
Bid
&
Asked
J
56
106%
6
107%
45
121~~
M N
M N
A
A
O
126"
77H
25
99 H
102
2 M
120%
121%
4
3 M N
99%
99%
3
90 H
97%
98
4
84 H
98
*86%
95
79
93%
21%
28%
24
34
2 F
27%
2
23
27%
2
23
33%
27%
5
23%
33%
1977
—1962
Gen mtge 5s series E
|{*R I Ark & Louis 1st 4 H8—1934
1948
1937
—1996
1996
St Lawr A Adlr 1st g 5s
2d gold 6s
94%
90
54
76%
49%
116
37%
S
M
S
23
107%
24
104
16
104
*111%
J
103%
J
A
.....
103 %
"I6§%
O
*95%
6
85
101
78
5
118
85%
87%
67%
87%
86
♦|Riv A G Dlv 1st g 4s —1933
84%
86
13
71
86
42
41
44%
53
34%
51%
IVI N
♦Certificates of deposit
J
gu 5s__. 1948
1955 J
J
1950 J
J
j
J
{♦St L Peor A N W 1st
5s stpd—
80%
2
31%
201
29
"3l"
80%
29%
J
30%
75
1950
♦Certificates of deposit
♦Con M 4 Ha series A
♦Ctfs of deposit stamped..
J978
1989 M
{♦St L SW 1st 4s bond ctfs
♦2d g 4s lnc bond ctfs...Nov 1989 J
N
J
53
31%
32%
86
17%
29
31
38
15
31
30)
28
30%
384
28%
214
14%
13%
30%
28%
96
44
76%
unifying 5s.. 1952
21
111* 116
107 H 111H
22
109
118
D
1007,6
1007,6
100%
47
100%
105
100
74
100%
106H 109H
75
24
50
65%
65)
53
61
J
53
251
J
101
101
2
s
J
32%
124%
122
126
107%
107%
107%
rj
J
1937
J
100%
100%
2
1968
D
{♦St Paul E Gr Trk 1st 4%s_— 1947
{♦St Paul &KCShLgu4H8. 1941
J
*105%
27%
St Paul A Duluth 1st
4s.
con g
.
.
.
.
-
-
2
24%
79
A
21%
1943
J
1937
D
tPaciflc ext gu
4s
4s (large)
104%
101%
105
Mont ext 1st gold
1940
J
106
107
St Paul Un Dep 5s guar...
1972
St Paul Minn A Man 5s
107
13
101%
111%
102%
64
89
1943
111%
3
108
114
2
112
1946
{♦Schulco Co guar 6Hs
J
J
f 6 Ha series B
1946
A
O
35
36
38%
50
*30%
1989 M
| {♦Seaboard Air Line 1st g 48—1950
f*Gold 4s stamped
1950
4
♦Adjustment 5s
Oct 1949
..1959
f ♦Refunding 4s
N
38%
6
A
O
21
A
O
22
F
A
A
O
7
21
3%
5%
4%
7%
118
11
9%
9%
32
14)
12
14%
529
13
11
13
297
25
68
O
6%
9
286
13%
3%
1935 F
A
6%
8%
30
3%
♦Certificates of deposit
M
S
8%
25
21%
7%
6%
Sharon Steel
conv
deb 4Hs
1951
IVI N
1951 IVI
Shell Union Oil deb 3 Ha
Shlnyetsu El Pow 1st 6 Ha
1952
J
♦fSlemens A Halske s f 7s
1935
J
♦Debenture
s
1941 F
....1951 J
A
1950 A
O
Socony-Vacuum Oil 3 Ha
South A North Ala RR gu 5s
__
Southern Colo Power 6s A
.1947 J
So Pac coll 4s (Cent Pac coll). 1949 J
1st 4 Ha (Oregon Lines)
Gold 4 Ha
Gold 4 Ha.
Gold 4 Ha
A...1977
1968
1969
1981
10-year secured 3%s
...1946
con gu
g 5s.. 1937
Devel A gen 6s
-
14
24%
70
66
105%
D
70
68%
70
88
64
78
A
67%
65%
67%
94
60
75
O
95%
95%
96
85 H
96%
A
*109%
*109%
105
105
105%
20
97%
114
100%
546
149
76%
108
J
105%
105%
95%
99%
6
105%
107%
106
97%
S
100H
IVI
S
95 H
95%
1
22
16
96
IVI N
95H
95
95%
M N
95 H
95
95%
204
76%
J
99 H
98%
99%
488
97%
J
O
110%
110H
M N
*104%
J
J
.
.
—
-
.
106%
106H
*
1956
In"
81%
100H
104
Mem Dlv 1st g 5s
1996
1951
East Tenn reor lien g 6c
Mobile A Ohio coll tr 4s
1938 M S
"99"
1938 M S
J
D
S'western Bell Tel 3Hs ser B... 1964
S'western Gas A Elec 4s ser D..1960 M N
J
{♦Spokane Internat 1st g 5s...1955 J
109%
78%
97%
100%
*102%
97%
*103%
86%
194
27
111
--
...
-
107%
105%
157
111%
194
-
106%
106%
144
103H 106%
103
103
103%
83
98 H 104 H
96 H
84 H
j
84%
*102%
j
"91%
108
108
108%
34
104H
104%
104%
23
"9I"
9Q
-
29
18
30
Staley (A E) Mfg 1st M 4s
1946 F
A
105%
Standard Oil N J deb
1961
1943 J
J
D
100
J
J
126"
*104%
122%
S
106%
106%
107
39
102
101%
102
37
3Hs
♦Studebaker Corp conv deb 6s. 1945
Swift A Co 1st M 3Ha_.
1950 IVI
1947 A
TeDP Cent 1st 6s A or B
Tenn Coal Iron A RR gen 5S..1951
J
Tenn Cop A Chem deb 6s B...1944 IVI
Tennessee Corp deb 6s ser C...1944 IVI
Tenn Elec Pow
1st 6s
ser
D
O
J
125%
*104%
S
.....
92
-
.
166%
.
.
184
127%
1
1
102"
t—
F
118%
2
A
A
O
O
a
42%
36%
1941 ivi
a
72%
a
f
"94"
116
.
....
__
2
109H 110H
109%
112
125
13
121H 125%
122
123
14
119
108
108
2
123
j
j
j
j
A
O
104
103%
104
j
108
107%
108%
*107%
107%
j
j
100%
110%
110%
1946
38%
37%
23
8
111
a
135
101
O
ivi
19
123
107% 110
107H 108%
96 H
104
109
106
100% 104%
106
111%
44
32%
134
37%
j
39%
39%
105
104%
38
♦5s assented
1946
Western Union coll trust 5s...1938 j
83
105H 109 H
110%
a
{♦Western Pac 1st 5s ser A
...
73
94 H 101
124%
.
1937
Gen gold 4s
104%
4
104% 107%
103
109%
32%
42%
Funding A real est g 4Hs
IVI N
108%
108%
9
25-year gold 6s
j
107
106%
107%
21
103% 107%
30-year 5s
IVI
8
108%
108
108%
54
104
j
j
26%
26%
26%
2
22%
33%
j
j
96%
95%
96%
274
85
96%
92%
3
81
92%
104
107%
1950
1951
1960
♦Westphalia Un El Power 6s.. 1953
West Shore 1st 4s guar
2361
Registered
2361
Wheeling A L E Ry 4s ser D..1966
d
j
j
M
S
91
S
M
RR 1st consol 4s
1949
Wheeling Steel 4 Ha series A—.1966 F
.
.
.
*105%
{♦Wickwire Spencer St't 1st 7s. 1935
♦Ctf dep Chase Nat Bank
-
..
.
-
....
8
101%
102
96
99
102
102
102
A
102%
7
90
102%
31%
57
30%
30%
♦Ctfs for col A ref conv 7s A. 1935 MN
30%
63%
30%
31%
214
62
63%
14
1942
1938
Wllk A East 1st gu g 5s
j
5s
D
.
.....
Conv deb 3 Ha
*105%
102%
103
*112
107
103%
.
.
--
33
18%
31%
18%
31%
45
67
105% 107%
99 H 104
112
107
115
term 1st 4s '36 IVI N
deposit
j
1st 4H8..1943 j
Tube—
1951 F A
1961 IVI N
1st mtge s f 4s ser C
32
29
33%
185
15%
30%
♦Certificates of deposit
f ♦Sup A Dul dlv A
^Certificates of
{♦Wor A Conn East
Youngstown Sheet A
107% 112%
111%
j
j
109
111%
......
1940 MN
White Sew Mach deb 6s...
e
28%
30%
29
15%
23
20%
24
276
18%
21
""
......
25
25
33%
30%
9
24
29
9
21
25
2
21
25
615
129
138%
131%
140
103%
103
103%
105% 140
98% 104
r
106
*108%
110
57%
22%
73
43
current
week,
n
week,
a Deferred delivery sale only
Under-the-rule sale only transaction during
t Accrued Interest payable
receivership, or reorganized under
assumed by such companies.
{ Companies reported as being In bankruptcy,
Section 77 of the Bankruptcy Act, or securities
♦
105%
105% 109%
during
§ Negotiability Impaired by maturity,
at exchange rate of $4.8484.
106
97
yearly
Cash sale only transaction during current
transaction
current week.
99% 105
97
week and not Included In the
.
No sales.
117% 126%
62
Cash sales transacted during the current
range;
105% 111%
36
1961
1966
1952
West N Y A Pa 1st g 5s
118%
37
198
77
4
j
102"
106
39%
10
101
110%
a
1st mtge 4s ser H
105
106
38%
81%
81%
*111
d
1st mtee 3 Ha series I
Western Maryland 1st 4s__
125%
104%
39H
41H
41H
74% 102
120
105%
O
j
m
10
81% 127%
105
107%
105%
♦Adj lnc 5s tax-cx N Y..Jan 1960 A
46H
73 %
10
....
105%
29
28
160
73%
72
*109
j
West Penn Power 1st 6s ser E.
103% 104%
14%
34
104% 106
98% 100%
104 %
73
98%
42%
100%
A
j
91%
104% 108%
106
72
93
86
72
81%
A
F
1st 40-year guar 4s
67%
1979
*72%
84
71
69
j
1980
Tex Pac Mo Pac Ter 5%s A..1964 M S
J
Third Ave Ry 1st ref 4s
1960 J
70
121
97%
F
38%
34 H
25
103H 109 H
231
93
96%
j
Gen A ref 5s series C
105
9
82%
90%
j
Gen A ref 5s series D
1977
33 H
23
79%
97
1949
98
Gen A ref 5s series B
38
24 H
26
222
92
Q IVI
87% 107%
-
26
34%
109
ivi
101% 104%
8
107
35 H
192
82
1960 j
88
...
1
235
38
38%
a
{♦Wis Cent 50-yr 1st gen 4s
31
125%
38%
32 %
O
Winston-Salem S B 1st 4s
104
.....
27
35
♦Deposit receipts.
102%
99%
97% 103
107
*105%
124%
114
O
71% 104%
110%
2000
38%
33%
78
106%
103%
.1951
1943
5
36%
38%
Wilson A Co 1st M 4s series A. 1955 j
110%
Corp deb 3 Ha
99
40
35%
26 H
26
*
♦Warner Bros Co deb 6s
82
106H
Texas A Pac 1st gold 5s
89
a
92% 111%
104
Tex A N O con gold 5s
60
2
129
71%
A
....
110%
1953
..._
99
wi
99% 107%
Texarkana A Ft S gu 5%s A..1950
f g 4s...i
85
82 H
77
40
34%
37%
A
108%
95%
95%
99%
Texas
s
38%
♦Certificates of deposit.
96
35
Gen refund
72
25
♦Ref A gen 5s series D
109% 111%
.....
118%
67H
100H 102 H
36%
40
♦Certificates of deposit.
1
*109%
1944
10
100
34%
♦Ref A gen 4Hs series C-.
97%
100%
103
1
125%
104%
1
101%
A...1947
11
105%
100%
S
Term Assn of St L 1st g 4Hs—1939
1st cons gold 5s
105%
99%
....
80
110
81
99
a
85
113
85
5
104
36
a
j
....
51
.....
*70
O
D
.
62
96
80
J
.
6
100
94%
j
Will A S F 1st gold
-
99
95
A
53
Ill
99%
106 H 109H
58.
70
99%
68% 100%
137
104%
105
12
69%
110
♦Certificates of deposit.
106%
127
108%
106%
6H
20H
106%
797
100%
21
109
67%
no
♦Certificates of deposit.
A1
2H
"ll"
s
207
82
108%
90
18%
O
ivi
106% 118
....
14%
A
A
104% 106%
101% 101%
104%
...
77
3
3
106H 108
107 H 107 H
*3
16%
j
96!*% 101
103%
114%
106%
102%
80%
87%
105
"107%
«
....
IVI
:
ivi
90
«/
-----
3
J
5
j
31%
56
97H 105%
104
104%
a
72
23%
5
70%
101
J
St Louis Dlv 1st g 4s
Staten Island Ry 1st 4 Ha
42%
104
103%
j
94%
98%
81%
89%
59% 103%
7
33H
95H 104 H
j
105% 109
Art
1955
1994
1956
1956
Devel A gen 6 Ha
...
"72"
24
D
So Pac Coast 1st gu g 4s......1937 J
So Pac RR 1st ref guar 4s
1955 J
1st 4s stamped
Southern Ry 1st cons g 6s
Devel A gen 4s series A
87%
2
100%
100%
M
...1950 A
San Fran Term 1st 4s
So Pac of Cal 1st
179
~
J
1963 AO
f 5s. 1941 J
s
35
98%
71
A
..1946
Skelly Oil deb 4s
108%
97%
87%
*98%
98%
J
F
♦Silesia Elec Corp 6%s
Slleslan-Am Corp coll tr 7s
108H
D
1951 M Sr-y2~
f 6 Ha
South Bell Tel A Tel 1st
s
108
27
1
104%
Westchester Ltg 5s stpd gtd
♦Series B certificates
33
10
30
j
8%
1945 MS
6s series A
27 %
30
104
F
8%
11
|*Atl A Birm 1st g 4s
1933
{♦Seaboard All Fla 6s A ctfs..1935 A
cons
29%
29%
A
IVI N
9%
14%
13
25
9
9
♦Certificates of deposit
♦lBt A
30
103 H 107 H
33 H
27
) ivi
_
21
19%
7)
11
132 H
77
29%
MN
6s.
22
22
108
J
66
11%
3
35 %
120
*29%
66
169
21
113%
25
30
D
114% 120%
13
20
103 H
111
O
j
66
25%
14
120%
<
98
10
39
F
1st cons 5s
62%
28
....
37%
120%
♦Stamped
Scioto V A N E 1st gu 4s
94
32%
M N
Virginian Ry 3%s aeries A
102%
111%
114%
25%
15
103
113%
32%
A
31
34
3
34
38H
:
102%
113%
F
♦Ref A gen 5s series B
8 A A Ar Pass 1st gu g 4s
s
14
122
121%
1st 6s„ 1952 J
Santa Fe Prea A Phen 1st 6s. .1942 M S
♦Guar
4
99
A
j
16%
27
103% 107%
101% 104%
104% 107%
117% 124%
12
102%
.
103
j
107
17%
114
J
J
San Antonio Pub Serv
♦Stamped
105
....
27%
.
D
100% 102%
:
—
D
J
rj
-
j
100% 102%
47%
.
107%
S
j
Va Iron Coal A Coke 1st g
65%
53
39%
28%
1990
1937
♦Gen A ref g 5s ser A
St Paul City Cable cons 5s
99%
*107%
100
J
|*Vera Cruz A P 1st gu 4%s_.
75
78
115%
O
tMuly coupon off
♦Vertlentes Sugar 7s ctfs
97%
71
62
108%
110%
:
Va A Southwest 1st gu 4s
94
115%
108%
109%
Virginia El A Pow 4s ser A
26%
75
115'%
22
108%
Vanadium Corp of Am conv 6s.
Vandalla cons g 4s series A
Cons s f 4s series B
32
95)
123
F
31%
30%
32%
J
111
J
28
m"s
72
107%
17H
109%
6s
16%
14%
303
♦Certificates of deposit
♦Prior lien 5s series B
116
IVI N
4s
30
{♦St L-San Fran pr lien 4s A
122H
115
104 H
s
Debenture 5s
86
119
1
IVI
g
Utah Power A Light 1st
Util Power A Light 5Hs
St Louis Iron Mt A Southern—
14
22
3 IVI
♦Sink fund deb 6 Ha aer A
Utah Lt A Trac 1st A ref 5s...
101
121%
22
s
♦Un Steel Works Corp 6 Hs A
♦Sec s f 6 Ha series C
92
121
A
U S Pipe A Fdy conv deb 3 Hs
U S Rubber 1st A ref 6s ser A—
105%
103
102%
101
....
8
121%
M N
United Drug Co (Del) 5s
U N J RR A Can gen 4s
l{*United Rys St L 1st
19
106%
J
35-year 3Hs debenture
42%
102% 104
107% 110%
106%
106%
.
3 IVI
3 J
43
99 %
89 H
104H 107 H
106
.
.
3 IVI
United Biscuit of Am deb 5s__
24%
99%
rj
;
24
41
130
115
106%
.
7 IVI N
June
25%
35
13
16
38%
35%
103%
A
12
99
97%
O
2 F
24%
....
35
33%
iA
Gold 4s
109
107
51
30
22%
*21
M N
2
J
1st Hen A ref 5s
112% 113%
118
107
O
1 J
99
S
7 A
12-year 4s conv deb
Union Pac RR 1st A Id gr4s—1st lien A ref 4s
June
61
26
5 IVI
{I ♦Union Elev Ry (Chic) 5s___
107%
35
90
....
87%
*115%
M
Saguenay Power Ltd 1st m4%sl966
St Joe A Grand Island 1st 4s_„1947
1st 5s
102
3
55%
94
47
1949
1941
Rutland RR 1st con 4 Ha
12
103%
84%
♦Ruhr Chemical s f 6s.
Rut-Canadian 1st gu g 4s
Uljlgawa Elec Power s f 7s
Union Elec Lt A Pr (Mo) 5s
A—
47%
55
Guaranteed 5s
A
Un E L A P (111) 1st g 5Ha
49
35%
*90
Roch G & E 4 Ha series D
....
33%
37
120H 122
J
3 J
3
84
loik 106"
1
.....
3 IVI N
86
48 H
....
.....
105
*121%
28%
102%
105
86 H
107 H
96H 102
2
E
8
42
1955
*110%
S
25
42
1952
80%
D
3 J
102% 105%
27%
34
39%
{♦Rio Grande June 1st gu 58—1939
♦Rio Grande West 1st gold 4s. .1939
♦1st con & coll trust 4s A
1949
♦1st terminal A
33
106%
102
8
40%
♦Rlma Steel 1st s f 7s
St L Rocky Mt A P
81%
106%
O
30
M N
Rlchm Term Ry 1st gu 5s
St Jos Ry Lt Ht A Pr
80%
D
109%
IVI N
100H 103 H
D
Union Oil of Calif 6s series A__
1944
I {♦Richfield Oil of Calif 6s
♦Certificates of deposit
F
High
Low
) A
31%
24%
27%
27%
27%
27%
27%
14
)J
104%
104%
31%
J
No.
102%
3 J
95% 100%
106
High
102%
J
Tokyo Elec Light Co. Ltd—
110
106"
82
Asked
Low
105% 108
173
Jan. 1
&
Bid
7 J
105% 108%
106
Sines
Bonds Sold
Friday's
Sals
Pries
High
96% 102
"310
108%
108%
J
6a—1953
♦Rhine-Westphalia El Pr 7s... 1950
♦Direct mtge 6s
1952
♦Cons mtge 6s of 1928
1953
♦Cons M 6s of 1930 with warr '55
♦Rhine-Ruhr Water series
124%
100
99%
100
J
J
106%
Range
Rangs or
Last
Inter st Period
Tol St L A W 1st 4s.
S
Revere Cop & Br 1st mtge4%s.l956
♦Rheinelbe Union s f 7s
1946 J
Week Ended Oct. 2
Low
61
105%
.
102
106%
106%
aeries A
—1997
aeries B__—1997
M
No.
High
101 %
Remington Rand deb 4Ha w w.1956
IVI N
Rensselaer & Saratoga 6s gu.__1941
Republic Steel Corp 4 Ha aer A. 1950
Gen mtge 4 Ha aeries B
1961 F A
M N
Purch money 1st M conv 5 Ha '64
N. Y. STOCK EXCHANGE
|S
Low
Gen & ref 4Ha
BONDS
Sines
Jan. 1
Rangs or
Sals
102
Reading Co Jersey Cent coll 4s_1951
Rangs
Last
Pries
Week's
Friday
Week's
/
BONDS
N. Y. STOCK
2335
New York Bond Record—Concluded—Page 6
143
Friday's bid and asked price.
No sales transacted during current
week. ♦ Bonds'
selling flat.
'
e
Deferred delivery sales transacted during
in the yearly range:
Consolidated Gas
,v>
the current week and not
-
4%s 1951, Oct. 9 at 105%.
Included
2336
following extensive list
beginning
we
furnish
a
complete record of the transactions
the New York Curb Exchange for the
on
It is compiled entirely
Saturday last (Oct. 3,1936) and ending the present Friday (Oct. 9, 1936).
on
from the daily reports of the
1936
No account Is aken of such sales In computing the range for the year.
regular weekly range are shown In a footnote In the week In which they occur.
In the
10,
week, and when selling outside of the
NOTICE—Cash and deferred delivery sales are disregarded In the week's range, unless they are the only transactions of the
week
Oct.
New York Curb Exchange—Weekly and Yearly Record
Curb Exchange itself, and is intended to include
every
security, whether stock or bond, in
which any dealings occurred during the week covered:
Sales
Friday
Last
Par
v t c
1st pf 100
for
of Prices
Low
High
Price
Acme Wire
Range Since Jan. 1 1936
40
June
16
Jan
Apr
Aug
4434 May
70
10934 HO
1
19
334
1434
334
19
10
75
60
75
334
*
com
Conv preferred
Warrants
*
234
"2634
25
234
2,000
2,500
3,600
34
500
Aug
'434
19
Mar
Oct
|
75
Oct
434
Mar
35
Oct
Feb
73
Oct
330
34 June
3734
Jan
6734
Feb
84
70
50
Mar
25
234 June
25
73
175
83 34
75
Week's Range
for
Sale
of Prices
Low
High
134
Mar
British Amer OH Coupon.*
Registered
British
Range Since Jan. 1 1930
Week
Par
Sept
11334
234
934
500
400
27
34
Alabama Gt Southern
48
May
99
110
Last
High
*
Agfa Ansco Corp com
Alnsworth Mfg Corp
Air Investors
Low
Shares
STOCKS
{.Continued)
*
Aero Supply Mfg cl A
Class B
Sales
Friday
Week
com—20
Adams Mlllls 7%
Week's Range
Sale
STOCKS
2334
*
Amer
Price
•2334
2334
2334
200
2334
2334
100
183
215
Jan
28
Jan
3134
32
3134
2,300
3234
32
3234
34
200
2834
Amer dep rights reg
2,100
234
British Col Pow cl A
Brown Co 6% pref
34
*
400
3,800
234
28
2134
21
2434
19
19
19
300
2634
200
25
75
8234
7334
140
58
Feb
76
Brown Forman Distillery. 1
1034
934
1034
5,400
634
Allen Industries com
1
2834
2634
2834
19
Apr
2834
4434
4534
350
39 34
*
234
334
Jan
434
Feb
Buckeye Pipe Line
50
Buff Niag & East Pr pref25
45
Alliance Invest
3,400
1,700
July
Feb
Oct
2534
2534
2534
800
2134
2134
50
$5 1st preferred
*
Bulova Watch $334 pref..*
23 34
103
Allied Internat Investment
S3
pref
conv
Aluminum Co
com
*
common
6% preference
100
Aluminum Goods Mfg___*
Aluminum Ind
Oct
2534'
Feb
1,450
87
Jan
152
Mar
131
11934
11834 120
13434
1,100
109
Jan
12134
18 34
Apr
Sept
Burco Ino
Feb
Sept
1334
Mar
75
Mar
934
*
5634
54
10734
107
American Beverage com_.l
American Book Co
100
American Capital—
59
69
1,200
45
Jan
10734
234
200
87
Jan
107 34
Oct
234
600
Sept
Aug
434
Jan
69
10
Common class B
1
10c
83 preferred
$5.50 prior pref
134
36
42
41
25
l
4534
734
4434
634
Amer Cyanamld class A. 10
Class B n-v
10
"3534
Class B
3434
Amer Dlst Tel N J com...*
3434
130
21
4134
*
American General Corp 10c
$2 preferred
1
S2.60 preferred
334
Amer Lt & Tr com.
25
734
3434>
3534
110
111
1034
3434
J
Elec
$5 preferred
Sept
Jan
12634
July
Feb
700
400
19
Jan
2434
Feb
3334
Apr
47 %
Jan
11434
Aug
July
108
Jan
Oct
26
2534
2234
2634
2434
1,900
1934
Jan
2734
Mar
10,100
1734
2534
Jan
2534
July
Feb
Jan
30 34
4234
Jan
14
Jan
134
Feb
Feb
3634
36
98
234
9434
98
5034
4534
"234
234
100
1
3,425
5,700
9i«
Oct
53
5
134
1
*
6
*
534
1034
434
434
934
,
96
"1434"
Oct
Aug
5334
2,100
634
Oct
1234
Oct
Feb
100
634
134
July
July
1134
234
Feb
134
Aug
434
Feb
634
734
6
134
234
234
234
14,600
46,700
434
434
2834
500
234
Jan
May
1,700
1834
Jan
27
101
101
30
86
Jan
93
95
30
75
Apr
7,200
3,700
16
54
5634
300
9 34
7,900
834
Jan
21
Feb
5
Mar
28 34
102
July
95
Oct
Oct
Apr
18J4
2534
40
Aug
Apr
56?4
Oct
8
Sept
1634
Mar
Jan
734
Sept
Sept
108
$7 div preferred..
1st preferred
107
109
375
9934
May
11634
114
7% 1st partic pref...100
7 % prior preferred
100
Celluloid Corp com.....15
112
11434
375
10734
400
9
Feb
Sept
Aug
Sept
116
1134
1134
29%
*
95
94
..
95
220
1734
1634
18
1,900
1434
86
_.*
CentHudG&Evto
*
Cent P & L 7 % pref.... 100
Cent & South West Util__l
Cent States Elec com
1
86
8734
275
42 34
234
2,200
134
234
9,800
234
234
82
Apr
Feb
Jan
1634
Jan
55
Jan
102
Jan
18
Oct
87 34
Oct
Feb
134
22
23
650
18 34
Jan
3134
Jan
100
48
51
1,425
3134
Jan
56
Aug
2,000
82
Jan
Jan
28
25
20
Jan
44
Feb
6,300
32
May
Conv preferred
100
Conv pref op ser '29..100
28
5034
9934
6334
17
May
3034
Feb
434
Feb
Centrifugal Pipe
634
Feb
"""900
134
Jan
234
Aug
Charis Corporation
2134
434
1634
23
June
234
534
2,500
434
Jan
734
June
Mar
3934
Oct
13
Jan
112
Jan
4
Feb
Aug
7,200
54
11,200
36,400
334
Jan
734
Mar
634
334
Jan
Mar
1034
10,700
Jan
734
1034
June
96 34
Oct
134
634
10
3f
734
83
Feb
Oct
2,600
934
Jan
If 34
Oct
300
1034
Jan
1354
Aug
warr
10
Chi Ids Co pref
Cities Service com
5734
Preferred B
*
1534
23,900
1,000
8,000
1134
May
52 34
51
3
334
1834 2034
134 ' 134
Jan
234 May
434
734 May
2034
Oct
5,800
1
134
Sept
934
3,400
73*
2,300
834
634
97
13
*16
July
Apr
11
Oct
12 34
40
40
July
1,100
10,400
70
Jan
434
1334
2
"l6
Mar
5534
103
Aug
51
July
80
Sept
2,600
45
100
43
6534
11
Jan
1934
Apr
100
Jan
434
Oct
Distrlb.I
33
2115
July
534
Mar
'16
Jan
2,000
97
Jan
117
July
12,200
2
Jan
53
Oct
Sept
33
Oct
1,550
13
33
400
28
2
2,900
134
Jan
Jan
Feb
5
Oct
8934
90)4
2,900
84
20
112
1334
2
50
8,100
7,200
200
11
July
1434
Jan
134
July
234
Aug
1116
Oct
34
Aug
47
3434
g
1,800
13
1,800
13,400
Oct
1934
Jan
40
1834
13 34
July
Mar
June
3434
Oct
11234
59
5934
225
5334
June
734
1,300
334
May
May
234
100
134
134
200
2
100
234
100
1
Oct
88
Jan
16
Feb
2334
634
Apr
0434
Aug
116
6054
834
334
Jan
Mar
Sept
Aug
Jan
10134 June
500
34
May
2
Feb
27
Cont Roll & Steel Fdry
*
Continental Secur Corp..5
17
13,600
1134
Sept
18
Oct
10
10
10)4
250
634
Jan
1034
Oct
53
Jan
Cooper Bessemer
»
2434
2234
2534
10,300
934
Jan
2534
34%
Oct
$3 preferred A
*
54
54
56
Jan
56
Oct
634
Jan
9
Apr
334
Auk
8
Mar
434
July
8
Jan
82
Feb
434
Feb
July
12
Aug
34
May
5634
Sept
Apr
Jan
3
Aug
2034 May
18
Feb
134
Feb
6H
Feb
2934
Oct
834
20
234
%
Aug
Sept
1634
934
Jan
,2034
7,500
5,100
1334
108
"~2K "2%
Jan
Mar
""600
4
com
Copper Range Co..
Cord Corp
Corroon & Reynolds—
Common
$6 preferred A__
Cosden Oil
com
9 34
Sept
334
1634
Sept
21
Oct
Aug
Aug
Courtaulds
>1634
18
1,300
8
*
"Ik
5
834
434
454
1,600
9,400
734
2,000
634
1
82
81
*
234
200
65
Jan
13J4
300
634
Jan
17
1434
200
11% May
15
Jan
100
34 June
Apr
234
43 54
Feb
Oct
1
Jan
34 54
Feb
Apr
16
Feb
4234
3934
4334
..5
29
2734
2934
18,000
52,400
24
Creole Petroleum
CrOjCker Wheeler Elec
*
12
1134
1234
3,100
9
Jan
Croft Brewing Co
1
9i6
34
16,400
734
Apr
1134
Sept
Sept
Crowley, Milner&Co
*
1034
700
26 34
Mar
2934
Mar
Crown Cent Petroleum
1
234
7,200
5134
1034
150
29
434
Feb
Feb
Ltd—
Am dep rets ord reg
Feb
Jan
Oct
134
1334
100
8,500
Feb
3
Feb
234
234
34
Jan
600
Oct
13
1
Cramp (Wm) & Sons Ship
& Eng Bldg Corp
100
Crane Co
34
8 34
55
134
5 34
200
112
734
Consol Royalty Oil
10
Cont G & E 7% prior pf 100
Continental Oil of Mex___?
Jan
Mar
Jan
5
5,300
5934
July
334 June
334
Oct
234
Apr
4334 June
1434 July
25,000
2934
112
5% pref 1
100
Consol Mln & Smelt Ltd..5
Consol Retail Stores
;_5
Feb
Apr
June
800
53
300
334
34
34
134
2
4634
2934
5
97
For footnotes see page 2341
11634
Jan
Jan
45
1134
2734
10
Sept
1434
100
10
Oct
JP
73
Mar
900
Preferred
*
34
9,600
434
8934
Oct
334
Jan
93
36,400
1234
34
100
34
154
Jan
Mar
36
134
Community P & L $6 pref *
Community Pub Service 25
Community Water Serv_.l
934
12
Feb
25
434
500
5 34
134
5234
108
2,075
11,900
1554
334
50
ilii"
40
334
May
42
2234
334
"234
10134 10534
334
4)4
40
1,700
2,000
1534
25
*
434
*
334
'48
Aug
Sept
Sept
Sept
2034
434
com. *
19
104
1
46
334
634
634
234
334
2234
30,000
1934
334
48
254
334
300
1,100
9,800
"1534"
5234
8
334
934
10
May
Compo Shoe Machinery..1
5234
1534
9
134
Consolidated Aircraft
1
Consol Copper Mines
5
Consol G E L P Bait com.*
4,700
834
834
2,200
Jan
4,300
1534
Feb
2
Sept
334
100
Aug
6
May
2134
2d preferred
100
Brazilian Tr Lt & Pow...*
5234
"1634
15134
2034
334
4534
2934
2934
May
834 "Aug
234 Sept
123
2034
*
41
50
Jan
3534
7% 1st preferred.... 100
200
3,000
Jan
2634
9
5034
—934-IO34
3
334
Aug
1334
*
Sept
2
26
3434
934
134
5% preferred.. 100
Commonwealths
Aug
121
1334
334
934
6% conv pref
Colt's Patent Fire Arms.25
Columbia Gas & Elec—
Conv
Feb
Oct
8
5034
*
Cohn & Rosenberger
..*
Colon Development... 1 sh
Columbia Oil & Gas
Columbia Pictures
June
300
142
26
*
com
2,500
30
,316
1334
1
Cleve Elec Ilium
9,c
334
916
80
434
Feb
5,100
Jan
6
634
434
Commonwealth Edison 100
Aug
JCt
Feb
June
1634
Commonwealth & Southern
Warrants
Mar
66
59
.*
Jan
Feb
Oct
734
4134
Jan
334 May
123
334
334
14934 15034
122
34
82
Feb
234
"16
334
82
2
Jan
8,900
4434
*
1634
55
Jan
Apr
134 May
434
Oct
Oct
Feb
64 J4
1534
5934
4534
100
3
3434
Jan
Jan
59
Jan
June
Jan
54
5,400
434
24
3434
16
2634
28
434
58
700
200
1,900
86,600
59
1,550
30
Oct
Sept
Aug
July
5934
45 J4
1S16
6434
55
7034
Cleveland Tractor com...*
34
Berkey & Gay Furniture. 1
434
Clinchfield Coal Corp.. 100
Club Alum Utensil Co
*
Cockshutt Plow Co com..*
15
Jan
63
Feb
Oct
38
5234
3234
Mar
Jan
May
Sept
Jan
4,150
Jan
12434
June
34
1634
May
40
334
92
105
4234
Jan
Aug
150
10
134
834 June
rr64
100
1,100
88
Oct
65
334
10
58
50
Jan
3,600
350
63
•32
3j6
92
22
50
48,300
1334
Sept
65
Oct
Feb
12
12
2434 May
Feb
Preferred BB
._.*
Cities Serv P & L $7
pref.*
$6 preferred
*
2234
344
Feb
700
119
30
*
Jan
34
2,000
118
,S16
6034
334
5334
*
534
—
534
264
5034
Preferred
8,000
Sept
450
$
1734
58
5234
6234
434
2234
=32
May
2
'
118
100
City Auto Stamping
91
334
"64"
Cherry-Burrell Corp
*
Chesebrough Mfg
25
Chicago Flexible Shaft Co 5
Chicago Rivet & Mach...*
Chief Consol Mining
1
City & Suburban Homes. 10
Claude Neon Lights Inc_.l
Clayton & Lambert Mfg..*
4234
1
534
...*
Feb
96
Bell Tel of Canada
100
Bell Tel of Pa 6 34% pf.100
Benson & Hedges corn
*
234
22
100
Feb
4234
100
Jan
3734
834
334
634
*
Feb
430
5334
5634
234
634
Brillo Mfg Co com...
Class A
Jan
»,«
534
2234
1
Jan
Automatic-Voting Mach.*
Axton-Fisher Tobacco—
7% preferred
134
July
May
Mar
10
Jan
9
*
May
34
Corp of America
1
934
Brill Corp class B
Class A
Mar
14%
1734
25
1
5
*
Oct
234
"2lk "22H ""425
1634
7,500
Automatic Products
Bridgeport Machine
Preferred..!.-^
500
2234
82,500
134
7% 1st preferred
16
1434
6% pref without
52
"isk
334
Bower Roller Bearing
5
Bowman Biltmore Hotels—
Jan
Jan
7% preferred
44
19
Botany Consol Mills
734
34
1634
134
1
Bourjols Inc
Jan
400
Oct
Feb
Apr
Oct
92
Corp..II*
Borne Scrymser Co
34
18,000
134
1
534
Feb
100
Warrants
Bohack (H C) Co com
34
1434
34
1334.
25
334
Austin Silver Mines
*
40
*
234
19
20
52
Blumenthal (S) & Co
Jan
Jan
200
*
m
234
_*
com
300
Oct
434
1534
"1234
$3 opt conv pref
Mar
3934
13
Atlanta Blrm Cst RR pf 100
Atlantic Coast Fisheries..*
*
85
36
1434
5834
82.50 conv pref
__*
Black & Decker Mfg Co..*
Bliss (E W) & Co com
*
Jan
534
5134
134
3334
Jan
12 34
13
"314
5734
Purchase warrants
Blckfords Inc com
Oct
600
Apr
Apr
96
Associated Rayon com...*
Associates Investment Co *
Conv pref
87
8134
2
104 34
34
com
90
7934
534
18
6,800
1,050
38,700
1,200
34
7% 1st pref
10734 June
Oct
2134
234
37
39
1
10
Jan
4
warrants
Class A common
Sept
Apr
Jan
5
Babcock & Wilcox Co
*
Baldwin Locomotive warr.
Baumann (L) & Co com..*
Carrier Corporation
Casco Products
Castle (A M) & Co.
Mar
46
2834
4 54
28
Carolina P & L $7 pref...*
$6 preferred
*
4334
Oct
Jan
26
Jan
*
*
Celanese
Oct
Oct
50
Apr
6
*
com
Catailn Corp of Amer
Sept
734
234
Class B
Jan
3634
2634
2734
1034
Aug
Jan
87
4534
"234
Convertible class A
Feb
200
Mar
1634
2234
25c
Carlb Syndicate
Carman & Co—
12
100
31
48
1
*
3934
200
Mar
100
5
1
Jan
Assoc Laundries ol Amer.*
V t c common
*
$3 preference A
B non-voting
Canadian Marconi
Jan
2834
Oct
3434
4,600
16
100
734
31
Atlantic Coast Line Co..50
Atlas Corp common.....*
6% prferred
30 34
39
Oct
May
87
Am dep rets A ord sh.£l
Carnation Co
Jan
90
1
*
Am dep rets B ord shs.£l
Amer dep rets pref shs £1
Canadian Car & Fdy pfd 25
Cndn I^ydro-Elec Corp—
260
2634
2434
1334
10
Cable Elec Prod vtc
Cables & Wireless Ltd—
6,900
1034
450
10634
334
34
2434
86
*
Butler Brothers
35
934
234
*
Corp
Feb
133
2734
.1
Blue Ridge
Mar
Feb
3734
2634
\
Class A
Bellanca Aircraft
Jan
115
Feb
,516
3134
£1
Common
Atlas Plywood
3634
4034
Jan
Feb
Industries
Amer deposit rets
Assoc Gas & Elec—
Option
9
5
1S16
3534
34 34
Arkansas P & L $7 pref...*
Art Metal Works com
5
Sept
7
15,700
7934
*
com
$3 convertible pref
Warrants
34
Ho
Preferred
3134
2934
May
Jan
4734
Jan
Appalachian El Pow pref.*
Arcturus Radio Tube
Arkansas Nat Gas com
Common class A
534
4834
■"
Sept
30
Angostura Wupperman__l
Apex Elec Mfg Co com
*
Oct
234
4234
■_*
Oct
4434
334
3934
*
25
18,300
Pref ctfs of dep
Canadian Indus Alcohol A*
41
900
30
*
Amer Thread Co pref
Anchor Post Fence
Feb
Mar
Feb
200
"4034
*
1st preferred
Jan
3634
9134
334
2234
4234
11134
1
Amer Meter Co
Jan
2734
...25
Amer Potash & Chemical.*
Am Superpower Corp com *
350
1,100
9,400
25
100
6% preferred
Preferred
334
21
1
Amer Hard Rubber com.50
Amer Invest (111) com
*
Amer Laundry Mach___20
Amer Mfg Co com
Amer Maracalbo Co
2
Jan
27
Jan
Feb
434
Amer Gas & Elec
Preferred
9
116
Amer Foreign Pow warr
Amer Fork & Hoe Co com*
*
4234
4534
130
7% conv preferred... 100
Amer Equities Co com___l
com
7734
Jan
&
25
warr
434
9i«
600
300
*
Class A
Associated
68
8634
3434
*
Am Cities Pow & Lt—
Clas A with
234
10c
com
106
"96"
Bunker Hill & Sullivan.. 10
15
131
100
com
6% preferred
Class A
2134
Jan
*
com
Aluminum Ltd
June
25
Oct
Sept
87
15
21
*
Allied Products cl A
3234
32
Sept
Oct
18
25
100
Brown Fence & Wire cl B._
Class A pref
*
Oct
Jan
7 34
8334
.
Mar
British Celanese Ltd—
*
*
234
Jan
2734 Apr
2634 June
Tobacco—
Am dep rets ord bearer £1
Am dep rets ord reg..£l
Ala Power 87 pref
86 preferred
com
High
Low
Shares
com
25
"16
10
-
"~ik
134
1934
34
5
134
Feb
Sept
134
May
10J4
Oct
Jan
234
Jan
Volume
Week's Range
for
Sale
of Prices
Low
High
Week
Par
Price
25c I
Crown Drug Co com
Preferred
Cuneo Press
|
4
25
com
2,100
2.100
'
-
Jj %
47%
*
47%
48
500
%
500
—-----
Hi
12%I
CusI Mexican Minlng_.50c
Darby Petroleum com___6|
Davenport Hosiery Mills. *
Dayton Rubber Mfg com.*
Preferred
13%
18%
32
61
"67~"
17 %
20%
600
16%
500
19
Aug
Aug
6%
79%
18%
16
10%
43
1,700
8%
Jan
6,800
7%
34%
Aug
Aug
May
*
"l9%
5
11
11
200
4,300
11
400
27
27
300
33%
£1
36
3,600
Dominion Bridge Co Ltd.*
Dominion Steel & Coal B 25
"7% ""7k """400
10
*
Douglas (W L) Shoe Co—
7% preferred
..100
10
'
26
100
*
Heyden
30
31%
3%
4
10
6%
preferred
Eastern
100
"58
Malleable Iron.25
Eastern States Corp
57 preferred series A...*
56 preferred series B___*
(Henry) & Co cl A..*
9% Mar
14% May
Apr
29%
27%
4% June
8
10
July
Hormel (Geo A) & Co
Horn & Hardart
June
12%
Jan
Edison Bros Stores com..*
Elsler Electric
53%
47
54
47
13%
13%
17%
*65""
61
preferred
56
3
Sept
Humble Oil & Ref
Oct
Elec Power Assoc
Class A
Option
26
54
15%
Sept
Mar
Oct
23%
65
Jan
77
1,900
87%
5,000
11%
9%
70%
7% preferred..
100
Ind'po-is P & L 6 %%pfl00
Oct
15% June
75
9
55
36
84%
11%
Oct
150
15%
62%
6%
Feb
700
Non-voting class A....*
Class B
Julv
64%
74%
Apr
79
Mar
Jan
88%
Julv
Insurance Co of N Amer. 10
9%
6%
Mar
Internal
July
Internal Hydro-Elec—
Pref S3.50 series
2
Jan
8%
9%
7%
250
88
200
10
Jan
18
300
15
40%
44
500
30%
£7%
pref w w
Elec Shovel Coal 54
pref..
17
17
Electrographie Corp
com..
Elgin Nat Watch Co
15
Emsco Derrick &
Equip..5
Equity Corp
com
Line
£0
50
£8%
100
61
50
30
19
2%
19^
1,600
1%
43
50
2%
46
36,400
200
100
15%
------
3
17^
Falrchild Aviation
Falstaff Brewing
——
2,400
19^
1
Fedders Mfg Co com
*
Ferro Enamel Corp com..*
18%
6%
9%
19%
700
12
34
9%
1
Fansteel Metallurgical...*
1,500
400
17 ^
6%
8%
1
Fanny Farmer Candy
34%
1,200
9,600
100
12
30,0
3,700
(Phila).10
66
Jan
66%
Jan
72
41%
110
14
June
99%
99%
125
92 %
Jan
3%
700
2%
Sept
3%
1,100
2%
300
3%
21
Jan
31
200
17%
*
12%
1
*
preferred.
*
1
Iron Fireman
Feb
Jan
4%
13%
Jan
Jan
9%
19%
Oct
Oct
12
17
May
Jacobs (F L) Co
1
Jersey Central Pow & Lt—
5%% preferred
100
6% preferred
100
7% preferred
.100
Jonas & Naumburg__-2.50
Jan
36%
23% June
Sept
40
40%
Mar
May
23%
Sept
%
79%
-~2;80b
%
Jan
—1%
Feb
50
74%
July
89
Feb
8%
18,200
28%
Jan
Jones & Laughlln Steel. 100
Julian &rKokenge com. -.*
100
1,375
60
62
700
8%
23%
26%
79 H
*
72
9
25%
28
V t c preferred A
Apr
117
Jan
9
Feb
Kansas G & E
May
40% May
72
Feb
64%
Oct
Kingsbury Breweries
9%
Feb
46
Kingston
*
8H
25%
27%
3,800
6,400
150
7% May
19
July
22% June
Products
28%
Feb
Klein (D Emil)
32
Feb
Klelnert
Knott Corp common
American dep rets 100 fes
Froedtert Grain & Malt—
Conv preferred.
15
General Alloys Co
*
200
3
2%
I
450
18%
2%
3
2
2,800
19
Jan
2
4%
Sept
Gen Gas & Electric—
56 preferred
22%
21%
7,800
1%
16,900
18%
12%'
Jan
Jan
23%
21%
13
22%
19%
1%
22%
19%
1
Jan
70
preferred
40
*
Warrants
%
A
6% pf100
97
pref
87
,_*
Rayon Co A stock..
*
General Telephone com.20
53 convertible pref
*
General Tire A Rubber...5
6% preferred A
100
Georgia Power 56 pref
*
$5 preferred.
21%
50%
13%
99
88%
*
1%
23%
51
14%
99^
89%
.*
Glen Alden Coal
50
71
June
10
67
5,800
GOO
4,500
80
175
7%
40%
40%
7%
40%
Aug
Apr
Apr
Apr
Apr
July
Apr
85
79%
5
50
40
4,900
16%
16
17
38
22%
%
5%
24%
43%
31
3i6
5%
24%
4,600
30,400
20%
3%
12
22%
24%
3%
12%
24%
3,300
15,900
29%
3i6
♦
5%
24%
V t c agreement extended
24%
53 preferred
13%
300
40%
Goldfleld Consol Mines.10
Gorham Inc cl A...
.*
Jan
Jan
68%
*
*
12%
47
13%
100%
Sept
100
87
Grand Rapids Varnish
3%
*
12%
Gray Telep Pay Station..*
22%
For footnotes see page
2341
28
650
% Sept
23% May
17%
18%
700
15
1%
3I6
15%
1%
316
1,700
•U6
16%
86
89
92
90
92%
120
76
Jan
99%
5%
79%
98% 100%
170
86
May
16%
Lane Bryant
Realty,com
Preferred
1
Lehigh Coal & Nav
Leonard Oil Develop
900
1,700
%
1%
111%
17%
18%
700
10
3%
4
Mar
Jan
Jan
July
500
18%
8
8%
700
3%
Mar
375
-96%
Apr
1
8
8
1
104%
11%
1%
104% 105%
11%
100
23
23
11%
24%
2,100
»
55%
54%'
56
6,500
51
5%
6
700
*96%
Jan
July
Jan
Jan
Jan
10
Jan
90%
Feb
74%
Aug
8%
Feb
47%
18%
Sept
Feb
Corp
*
*
25
24%
Feb
16%
24%
Oct
Jan
Jan
96%
11%
100
1%
June
18%
100
11%
July
10%
11%
25,800
%
1%
14,500
6%
%
Jan
Jan
100
107%
Feb
2%
1
110
"13%
13%
110
14%
2,900
.7%
6%
2,800
70
1
*
7%
3
18%
8%
13%
8%
13%
9%
2,700
14%
13.900
6%
Jan
Mar
Jan
17%
Apr
6% May
9%
Jan
6
6
15,500
6%% pref
3%
Apr
91
390
80%
50
64
Jan
6%
100
92%
80%
100
6%
100
6
11%
13%
20,700
Sept
Jan
'
12 5i
72 %
9%
94
$6
Mangel Stores Corp
Apr
*
Louisiana Land & Explor.l
Louisiana P & L Co—
Oct
4% Sept
Jan
Sept
Mar
2%
18%
1
Common
7% preferred
6% pref class B
Loudon Packing
Feb
16
5%
Long Island Ltg—
'is
32%
10% May
96%
Class B
5%
Jan
Jan
—200| ~28}^—Oct
200
Lerner Stores 6 % % preflOO
Lion Oil Refining
*
Jan
July
5%
30
Jan
*
2%
Jan
18% June
July
4%
1%
10%
7% pref. .100
preferred
Lynch Corp common
1
2,200
4,000
Jan
21%
Lone Star Gas
Oct
2%
Aug
70%
10%
Lockheed Aircraft
Oct
Oct
17
29
14%
-225
21
Sept
31
10
79%
7,700
■I
4%
10
Mar
43%
1,600
74%
28%
Apr
2%
23%
52%
Jan
1,000
5%
%
Loblaw Groceterias cl A..*
Jan
May
5%
Jan
% May
200
1,800
Lit Brothers com..;
Gorham Mfg Co—
Grand National Films Inc 1
27
7,900
32,300
Oct
102
Sept
Feb
May
5
20
5%
Jan
8
%
1,600
27%
4%
16%
°
470
5%
2%
24
3,300
400
Feb
Sept
Feb
Jan
716
1,000
4
Lakey Foundry & Mach..!
Sept
Oct
%
Jan
1
Godchaux Sugars class A.*
Class B
116
300
l
*
Gilbert (A C) com
Preferred
21%
60%
14
99%
%
97
87
200
76
Apr
Jan
%
5,400
Jan
2%
100
Kreuger Brewing
Feb
Oct
2%
i3I6 May
25
5%
Jan
3i6
4%
Kress (S H) & Co pref—100
Lefcourt
*
com
23
"l'iioo
Sept
2%
5%
Lake Shore Mines Ltd_..l
100
Jan
9i§
1
1
Feb
Gen Electric Co Ltd—
Am dep rets ord reg__£l
Gen Fireprooflng com.
*
4
July
-.1
Mar
4%
Sept
16
Jan
%
Koppers Gas & Coke Co—
■6%
,
I8
3
%
6%
32%
932
%
*
Rubber
32% Aug
33% Aug
3% May
18%
7% pref.100
Klrby Petroleum
Ford Motor of France—
*
1,500
32,200
Feb
28
Ken-Rad Tube & Lamp A*
4%
1%
Kansas City Pub Service—
Common vtc
*
Apr
112
64
1
Italian Superpower A....*
Warrants.
Jan
1%
30%
Feb
21
12
10
516
Mfg v t C..10
Irving Air Chute
1
500
5%
87
Feb
23%
10%
5%
64
%
Jan
July
3%
5%
"""% """% ""loo
5%
Apr
Sept
5
3
200
"25"
14%
4%
5,000
15,600
1
Jan
Aug
37
Interstate Hos Mills—.-*
Interstate Power $7 pref.*
Aug
10
36
11%
1%
Apr
475
*
prior preferred
New warrants
,
Sept
Sept
5,400
36
100
Class B
1%
7
Jan
May
Apr
12
35%
5%
International Vitamin
%
14,800
1%
13
36%
Oct
46
19%
9%
36
Feb
21%
3%
July
14%
3%
Apr
July
600
11
12
1%
Jan
1H
2%
3%
Class A
Sept
15
Jan
Aug
28
$7
Feb
38%
3
31
2%
50
6%
1%
30
Holding & Inv..*
Internatl Safety Razor B_*
Internat'I Utility—
July
44
%
78%
-
8%
1
Class B
Gen
35%
9
Registered
July
Jan
43%
7%
78H
100
Am dep rets ord reg..£l
Ford Motor of Can cl A..*
Gen Outdoor Adv
Gen Pub Serv 56
Feb
41%
Mar
5%
69
International Products...*
Stores—
Corp
Gen Investment
56 preferred
10
37
500
International Petroleum..*
Julv
19
%r
....1 —
preferred
Florida P A L 57 pref
Ford Motor Co Ltd—
380
2,100
Oct
37%
39%
Flat Amer
56
400
36
73%
Warranto
July
200
'316
7% 1st preferred
41%
9
20%
Feb
Apr
63%
Jan
Apr
17
29%
19%
65
200
72%
44
Jan
Jan
Jan
20%
73
Jan
Jan
9%
20
17%
Jan
43
2,100
—100
Investors Royalty
European Electric Corp—
Option warrants
Evans Wallower Lead
Flsk Rubber
preferred
Jan
47
£7
60%
19^
10c
Eureka Pipe
50
67 ^
17,000
1%
98
42
Empire District El 6%. 100
Empire Gas & Fuel Co—
6% preferred..
100
5?%
6%% preferred.....100----7% preferred
100
61
8% preferred
100
Empire Power Part Stk..*------
Jan
Jan
Feb
41%
9%
Internal Mining Corp
Feb
88
17%
18%
May
May
-400
■
—-1
V t c common
Mar
5
36%
38%
52%
Jan
May
34
9%
Intl Metal Indus A
200
1,800
Jan
2%
35%
International Cigar Mach *
18%
9%
75%
July
500
Apr
Apr
Jan
12
4,300
6%
6
32
13%
*
27
6%
6
% Sept
9% Aug
13% June
industrial Finance—
Mar
Apr
Feb
3C0
Jan
June
57
Indian Ter Ilium Oil—
Oct
4%
Jan
22%
Industries
Britain and Ireland..£1
Indiana Pipe Line
10
Indiana Service 6% pref 100
Mar
Jan
6%
105
Imperial Tobacco of Great
Jan
Jan
23
2,300
24% 181,300
conv
First National
22
Chem
750
Imperial Tob of Canada..5
Mar
Jan
6,000
14%
18
22%
1
Fire Association
22%
21%
Amer deposits rets—£1
Imperial Oil (Can) coup..*
Registered
*
2%
warrants
dep rets
Fldello Brewery..
1 b%
21%
22
Imperial
Jan
Mar
Shareholding—
7% preferred
Ex-cell-O Air & Tool
10%
22%
Jan
10%
15%
24%
4,350
59
58%
80
3%
550
57
Jan
83
2,000
4%
45
56%
Feb
42%
3%
44
58%
July
11%
"l",400
""8% "1
4%
58%
6
85
500
"
*
66
Jan
300
16%
6% preferred
..100
Illuminating Shares cl A._*
Jan
Mar
Jan
20
5,200
H
15%
Sept
Jan
67
--1
6
July
1% May
63
-
18,900
30%
7% pref stamped
100
7% pref unstamped..100
Common
39
23%
28%
Oct
111
4,300
3%
11%
9%
1
...
66%
100
37%
109
109
Huylers of Delaware Inc—
Jan
54
70
com
Common
56
55
37
37
*29%
Sept
Oct
July
75
*
Elec P & L 2d pref A
*
June
9,100
24
preferred.
Electric
800
65
3%
1
Elec Bond & Share com..6
$5
*
%
86
Corp
*
7% preferred
100
Hud Bay Mln & Smelt...*
Illinois P & L S6 pref
60
Oct
Sept
Holt
46%
7%
4
Feb
13%
Oct
25
Sept
59%
41%
21%
6% June
9
150
40
*
com
45
2,400
100
13%
Holophane Co
Hygrade Food Prod
5
Hygrade Sylvanla Corp..*
"~2% "3% "lb'ooo
"3%
Easy Washing Mach "B"I*
Economy Grocery Stores.*
7%
72%
Jan
July
Oct
36
7%
Jan
July
300
35
13%
3%
10%
5,700
42
34
13%
Hydro Electric Securities.*
700
1%
42
42
*
Oct
600
1%
500
5
10
Chemical
Oct
9,100
7%
71%
57%
7%
♦
4%% prior preferred.100
8,100
1,000
E) Co cl A
Hollinger Consol G M
East Gas <fc Fuel Assoc—
Common
1,600
16
Mar
6%
3%
3%
17%
82%
14%
Apr
15
124%
6%
13%
Apr
1
17
3%
Jan
13%
*
68
100
30%
Mar
25
23%
250
1%
15%
Apr
1,900
300
72%
Hires (C
27% May
2,200
Oct
24
69%
17
Aug
80
76
100
4
Sept
Aug
'
15%
50
Jan
72
23%
■
1%
a
105%
101
Eagle Picher Lead
Hecla Mining Co
Helena Rubensteln
July
.....
43
Jan
23%
1
*
25
Hazeltlne Corp
Oct
Feb
21% June
19% Aug
10%
Apr
Mar
5%
11
Oct
1,500
8%
Mar
Apr
24%
6% July
1H June
Jan
%
1%
^
72%
*94%
65%
82%
100.
DubilierCondenserCorp.il
Duke Power Co
Duval Texas Suplhur
15
Hartman Tobacco Co
Harvard Brewing Co
25
81
82%
30%
9%
5%
1,100
26
116% 117%
*
2",500
99
*
new
5
Hartford Electric Llght-25
*
Oct
Mar
46
34%
*
preferred
30%
23
3,600
Lamp Co
Haloid Co
Oct
50
Hall
Apr
18%
32%
17%
Diamond Shoe Corp com.*
Driver Harris Co
16%
10% June
May
70
38%
30%
19%
Dow Chemical
Jan
22
Jan
42 %
Draper Corp.
Oct
Feb
Detroit Steel Products
6%
.....
Apr
Mar
10
101%
2,200
9,300
Gypsum Lime & Alabast.*
1%
13%
1%
14%
lj.300
1%
100%
25%
20
2%
8%
*
Gulf Oil Corp of Penna.25
575
14 %
8%
2%
%
113
124
1
Sept
110%
2,850
Grocery Sts Prod com..25c
Guardian Investors
1
Mar
Low
Shares
"450
Oct
*9
Week
35%
Apr
15%
for
of Prices
Low
High
117%
48
14% Sept
916 Sept
Range Since Jan. 1 1936
Week's Range
"35% "33%
116%
109
200
1,900
*
Feb
15,500
10 %
com
Feb
stock
com
7% 1st pref erred... .100
25
Gt Northern Paper
Greenfield Tap & Die
Mar
6%
20%
Dominion Tar <fe Chem
11%
Jan
Feb
79%
6% pref ww
20
Detroit Gray Iron Fdy__.5
Detroit Paper Prod
1
Amer deposit rets
Doehler Die Casting
4%
37%
Non-vot
Feb
Aug
4
*17%
2
H
5%
25
Price
1
Great Atl & Pao Tea—
July
2%
Aug
72
6%
__'_.*
Distilled Liquors Corp
Distillers Co Ltd—
11,600
2,400
67
17%
Detroit Gasket & Mfg coml
Dictograph Products
16%
190
31%
18%
35
Dennlson Mfg 7% pref.100
Derby Oil & Ref Corp com*
%
12%
Sale
Par
12
5.
Class A
Jan
Oct
3%
22% June
106
100
Curtis MfgCo (Mo)
11%
1~500
vto__ *
com
6%%' preferred
Last
High
Low
Shares
14%
4
*
com
Cuban Tobacco
14
3%
14%
Crown Cork Internat A__*
7%
STOCKS
{Continued)
Range Since Jan. 1 1936
Last
Sales
Fridayi
Sales
Friday
STOCKS
{Continued)
Crystal Oil Ret
2337
New York Curb Exchange—Continued—Page 2
143
5
*
100
37
38
1,150
8
9
3,300
86
95
190
34%
4
42%
Jan
May
Jan
Apr
Apr
New York Curb
2338
Week's Range
for
Sale
of Prices
Low
High
Week
Par
Price
Shares
100
22
*
New
13%
2,800
14
13%
Aug
27%
Feb
July
9%
June
22%
Jan
Mar
5
Apr
15
Sept
*
-
*
Mayflower Associates
*
-*
McWIllIams Dredging
Mead Johnson & Co
Memphis Nat Gas com.-5
1,000
5%
3,000
5
45
1%
4
100%
47 %
Jan
Aug
54%
55%
June
64
A.pr
42
Feb
60
Sept
"11% "l'i%
12%
40%
T266
"55%
38%
104
38%
103
6%
31%
600
8%
38%
Oct
Jan
Oct
500
104
6%
6%
32
2,100
13%
43%
106%
8%
Apr
Sept
Sept
Apr
36
200
7%
5%
5%
"2~906
Jan
Jan
3%
40
'2~606
'16
%
100%
Metrop Edison $6 pref—*
Mexico-Ohio Oil
—*
2
3
2
200
1%
3
3
3%
22,000
2%
3%
700
17%
1,500
2%
16%
%
16%
1
1
300
6
5%
400
Sept
8%
31%
10%
62
1,200
6%
6%
July
105
*
Michigan Bumper Corp__l
Michigan Gas & Oil
*
Michigan Steel Tube..2.50
Michigan Sugar Co
*
Preferred
10
Jan
Aug
14%
50
Participating preferred.*
Mesabi Iron Co
7%
16%
200
preferred
100
Merchants & Mfg cl A—1
Scott *
6%% A preferred...100
Feb
850
7%
Merritt Chapman &
4
Mar
Oct
14%
14%
31%
Mercantile Stores com—
L806
3%
3
Massey-Harris common._*
Master Electric Co
1
May Hosiery Mills pref—*
McCord Rad & Mfg B___*
~47%
"~46~~ "46"
t c——1
v
Jan
Oct
62%
common—*
common
Mass Util Assoc
-—*
*
Class A vtc
v
Midland Oil
t e
conv
4%
4
1%
1
1%
15%
%
5%.
Aug
Sept
Aug
Aug
Jan
Oct
Sept
Jan
4%
5,500
2k
July
1%
9%
4,000
«,«
Jan
9%
*
pref
$2
100
9%
Oct
*
dlv ehs
23%
23%
23%
800
19
*
non-cum
74
71
74
150
39%
3%
'
Mid-West Abrasive comSOc
*
Mfg. *
pref.. 10Q
Mining Corp of Can
Minnesota Mining &
Miss River
Pow
Mock, Jud., Voehrlnger Co
New common
2.50
Mob & Hud Pow 1st pref.*
*
1
2d preferred
Molybdenum Corp
Util—10
Montgomery Ward A....*
Montreal Lt Ht & Pow...*
15
5%
4,000
2%
2%
34%
100
39%
14%
100
99
84
8%
15%
"l8%
145
1,550
1
Moore (Tom) Distillery
102
"~7%
16%
14%
Feb
Feb
Mar
3%
4%
Oct
Mar
N achman-Springfilled
*
24
4
1
$5.50 preferred
Warrants
-
*
Nat Leather common
Nat Mfg & Stores
com...*
4,800
National P & L $6 pref—*
Nat Rubber Mach
*
Nat Service common
300
32
1%
900
20%
48%
2%
86
77%
86
250
1
1,500
1,000
48%
916
1%
5
700
2%
10,200
"5%
"5%
'16
19400
1,800
1%
3,100
%
18%
18
N Y Auction Co
13%
"13"
600
"l~3% ""900
11%
3%
25
77%
3%
93%
*
N Y & Honduras Rosario 10
N Y Pr & Lt 7%
6
27%
*
pref—100
Sept
May
39% May
23
Jan
57
Apr
4%
89
Feb
Feb
%
Aug
1%
Apr
1%
Jan
2%
2
Jan
5%
Jan
Sept
100
3%
3%
131% 131%
10%
10%
74
79%
3%
3%
88% 93%
6
4%
26
27%
"2466
20
8%
8%
%
2%
Mar
Feb
Feb
Feb
1
2%
123
19%
Apr
July
19%
May
16
Mar
Jan
Apr
Sept
Sept
Feb
4%
Feb
24%
July
93%
4%
July
Feb
132
Sept
100
6%
Apr
11%
Oct
2,050
69%
Mar
1%
Jan
Jan
Jan
Feb
92%
4,100
6%
96%
Feb
3,000
74%
2,600
2%
Jan
Oct
6
N Y Steam Corp com
*
N Y Telep 6%% pref—100
N Y Water Serv6%
9%
18
15
15%
23,400
%
%
5,700
12%
13%
4,300
47
49%
800
Nlpissing Mines
5
"2%
2%
2%
l-;900
Noma
1
9%
9%
11%
12,400
Electric
48
Aug
6%
;5%
Feb
Feb
7%
%
Apr
Aug
Sept
May
May
7%
28%
2%
3%
Nor Amer Lt A Pow—
3%
3%
*
59%
No Am Utility Securities.*
5%
$6
preferred
3%
58
3%
5%
5
Nor Cent Texas Oil
Nor European Oil com
1
Nor Ind Pub Ser 6% pf. 100
7% preferred
100
Nor N Y Util 7% 1st pf 100
Northern Pipe Line
10
o
316
3%
5,800
59%
800
5%
2,100
6
1,900
316
1,100
3%
36%
3%
Rossia International
Aug
Royal Typewriter.———*
Russeks Fifth Ave
*
3%
11%
Jan
Ryan Consol Petrol—./—*
Oct
Safety Car Heat & Lt—100
St Anthony Gold Mines. .1
Feb
Apr
Jan
3%
Jan
% May
7n
Jan
Jan
Jan
7%
preferred
Salt Creek
5
100
Producers.
10%
12
108%
108
*
80
Jan
103%
Mar
65%
69
32%
620
860
37%
14%
Jan
77
77
100
48
Apr
70%
70%
50
Jan
48
Apr
111
Apr
140
99%
92
Jan
98
98%
Jan
1% June
82
82
85%
150
43%
43%
45%
1,150
50%
Jan
22
Jan
Jan
14
"8% "5"
'3~300
5%
Jan
115
20%
22
June
141
21%
Jan
21%
22%
275
14%
Jan
150
17
Jan
%
100
%
3,6
%
300
%
Jan
Aug
%
Sept
800
250
3%
3%
3%
200
11%
10%
28%
12%
3,400
30%
1,100
30%
7%
100
916
%
1,400
5%
2%
10%
5%
2%
11%
700
%
%
700
5%
5.500
7%
5%
2%
11
7
7%
3%
3%
15%
14%
19%
%
3,800
1,600
400
700
4
15%
19%
"16
5,700
200
300
86
87
300
23%
87
24
200
8%
35,300
3
3%
1,800
98
99%
550
6%
,
3%
98
6%
7%
103%
5%
65
*
7% 158,900
104
98
670
6%
12,100
30
71
5
3%
2%
3%
700
Schiff Co common
*
36%
34%
36%
1,200
Oct
Schulte Real Estate
*
%
%
1,300
Feb
Scoville
185
103
Jan
33%
35%
1,700
33 %
38%
650
Oct
May
101%
Jan
300
104%
Jan
110
Feb
101%
400
*
109
109
111% 112%
50
14%
14%
11%
13
2,200
31
800
30%
100
4% June
110
9%
Jan
38
Mar
Jan
30%
Sept
26%
48
38%
109%
3%
Seeman Bros Inc
*
44%
2%
2%
32%
July
Jan
Jan
109%
15%
Sept
Feb
10% Sept
26% June
14%
33%
Aug
Aug
July
Segal Lock & Hardware..*
Seiberllng Rubber com...*
Selby Shoe Co
Selected Industries Inc—
100
42
Securities Corp general...*
Oct
Sept
45
*
Feb
110%
114%
13%
7ie
44%
Manufacturing.25
Scranton-Spring Brook—
Water Serv $6 pref
.
*
Common
$5.50 prior stock
25
Allotment certificates—
1,300
4%
46
3%
3
33%
5,500
400
Jan
2%
41%
1%
Jan
Apr
Jan
800
2
Jan
300
*30%
Jan
2%
Jan
3
3%
12,400
95
3%
'99"
Oct
Sept
97%
1,200
81
Jan
95%
99
1,300
78
Jan
Oct
103
28%
Savoy Oil Co
36
2341
15%
68%
Sept
110
Oct
Feb
Feb
12
32
July
9
Sept
July
»,«
100
108%
90%
38
11%
3%
35%
200
85
110
Jan
r
3,100
100% 103
10
Sanford Mills com
Oct
Sept
11%
Steel....*
St Regis Paper com
Jan
Sept
37
"14% "13% ~4~666
11%
Apr
35
"14%
Apr
Ohio Brass Co cl B
6
9%
1%
77%
15%
50
6%
3,600
71
21%
For footnotes see page
3ie
%
10
900
15
Sept
6%
8%
Jan
19
41
20
27%
com.
5%
63
Jan
20% June
2,200
89%
26
preferred
3%
~2~66.6
85
26
$3
Jan
Apr
Aug
St Lawrence Corp Ltd—*
Feb
Engineering..*
Novadel-Agene Corp
*
100
7%
2%
7%
*30% ""400
3%
3%
*
July
Jan
Northwest
Oklahoma Nat Gas
*
25
Richmond Rad com
1
Rochester G & E 7 % pf 100
RochesterTel6% % lstpf 100
Rogers-Majestic A
*
Roosevelt field Inc....—6
Root Petroleum Co——-1
$1.20 conv pref
20
Rustless Iron &
4,700
Ohio Power 6% pref
100
Ohio P S 7% 1st pref—10
Jan
June
700
89%
9
9%
3,600
"34% "35%
3%
Richfield Oil pref
Oct
9%
35%
Ollstocks Ltd com
Reynolds Investing
Rice Stlx Dry Goods
10
1
50
33%
Ohio Edison $6 pref
Ohio Oil 6% pref
"36"
(Daniel) com.—.*
*
Reeves
15%
35%
*
600
3,800
85
110
Sept
34
100
17%
41%
Jan
Apr
Nor Sts Pow com cl A.. 100
com
1%
39
Aug
*
...1
Common
1%
40
Jan
Jan
14%
Nlles-Bement-Pond
135
135
preferred—_—*
July
15%
13%
$3 conv
Raytheon Mfg v t c—50c
Red Bank Oil Co
*
Reed Roller Bit Co
*
11%
20%
1
5
common—
8%
12%
94
16
105%
160
Apr
7%
11%
90%
8
11%
94
15%
Jan
100
140
1,000
4%
7%
16
6% May
14% Apr
116%
Jan
4% Aug
5%
58%
Oct
800
2
7%
4%
Reiter-Foster Oil
5%^
Feb
94
1,500
-—-*
Reybarn Co Inc—
56
10%
14%
1,360
400
39
16
"14% "18% ii'ioo
-*
B
Oct
"56"
1,000
135
37%
15%
Prod—
Common
Jan
Niagara Share—
Class B
Class
Feb
July
Apr
Raymond Concrete Pile-^-
52
125
15
Jan
Class A—
38
350
June
8,200
H
Rainbow Luminous
113
118
Class A opt warr
Class B opt warr..
Manufacturing—10
Quaker Oats com
—*
6% preferred...——100
Quebec Power Co
—-*
Ry & Light Secur com
*
Ry & Util Invest cl A
1
Jan
400
9%
4%
lo", 500
6% prior lien pref... 100
7% prior lien pref—100
Jan
96%
Mar
Pub Util Secur $7 pt
Aug
10
36
Okla—
36
Niagara Hudson Power—
Common
Pub Service of
23
500
Jan
Feb
June
6%
6
""7%
Jan
18
116%
33%
100
105
10
18%
120%
Apr
Apr
"Ii% "15%
111 com—*
60
20
119%
5
pref 100
$6
100
516
New York Transit Co
*
*
pref
preferred
$7 prior
Pub Serv of Nor
42
5,400
12
112%
85
Pyrene
115
25
41
Apr
Indiana—
113
112
103% 103%
9%
100
100
1st preferred
7% 1st preferred
6%
Public Service of
Jan
Aug
Jan
300
115
31%
Colo—•
3%
9
16%
16%
103
preferred
Jan
Jan
Oct
Oct
N Y Shipbuilding Corp—
Founders shares
$6
Pub Serv Co of
Feb
12%
Aug
Oct
150
700
2
4%
Sept
5,000
15%
%
150
99%
109%
114%
18,400
30%
Aug
Feb
Apr
Sept
Jan
115
"18%
22%
111%
Aug
Jan
9%
19
Jan
25
Jan
July
May
.5%
9% June
•is July
12% May
23
June
55
17%
pf...*
Puget Sound P & L—
$5 preferred
-*
$6 preferred——
*
Pyle-National Co
.-5
1%
30 _11_
20
42 '■
112"
*
preferred
1%
60
74
~io%
N Y Merchandise Co
$6
11%
18
*
com
Apr
17% May
45% June
107%
New England T & T Co 100
1
Feb
100
preferred-...... 100
2ilnc
Aug
31
Jan
68$
87
50
9%
6% preferred
%
100
Mining Corp. 10
52%
Sept
1%
Jan
300
4%
Common
*
Newmont
2%
42% May
Jan
*
New Mex & Ariz Land
8%
Feb
July
2,390
17%
Oct
c
*
*
New Jersey
Mar
17%
96%
9%
Oct
700
5
47
Aug
June
Sept
5%
92
250
New Haven Clock Co
Oct
4
Jan
17%
29
1,200
New Bradford Oil
Oct
25
Feb
35
26%
Jan zl08
5
5
Power Corp of Can com..*
6% 1st pref
100
Pratt & Lambert Co
*
Premier Gold Mining.—-1
Prentice-Hall Inc
*
Pressed Metals of Amer..*
Producers Royalty
1
Propper McCallum Hos'y *
Prosperity Co class B——*
Providence Gas
*
Prudential Investors.
*
July
12
7%
46
Apr
42%
16%
—*
74% May
5%
Jan
3% June
%
Jan
25
com
10% May
6% Aug
8% Feb
Jan
May
106%
Potrero Sugar com
25%
27
Nev Calif Elec
Apr
Jan
4
100
Powdrell & Alexander
950
11%
1%
Neptune Meter class A
Feb
Sept
Apr
45%
3%
340
146
95%
* "15%
*
-1
Plough Inc
500
26
Neetle-Le Mur Co cl A
July
June
Pitney-Bowes Postage
Meter
155%
Apr
32%
101% 109%
39
39%
146
10
-*
Pines Winterfront new...1
Pioneer Gold Mines Ltd—1
91%
23
NeisnerBros 7% pref—100
Nelson (Herman) Corp
6
Sept
Aug
25
17%
17%
110% 111%
96%
-100
preferred
Jan
5% May
103
111%
108%
Pierce Governor com
29
11%
1%
Nehi Corp common..
15%
101%
conv pref ser A
Pie Bakeries Inc com
7%
28,200
44
44
50
*
Common
89
26%
Nebel (Oscar) Co com
Apr
Jan
Aug
5%
5%
100
Pepperell Mfg Co
Perfect Circle Co..
27%
"89%
12.60
1
July
Sept
Jan
9,900
1%
5%
%
1%
5
4,600
National Sugar Refining..*
Nat Union Radio Corp
115
33
~8"500
50%
19%
46%
1%
1
Transit
Oct
Oct
21
Conv part preferred—*
National Steel Car Ltd—*
National
Jan
Jan
900
25
National Refining Co
3%
5
23%
11%
"2 k
4
National Oil Products
Oct
Apr
39
49%
A—5
National Investors com._l
5%
2%
39%
Oct
12,000
50
*
preferred
Jan
Jan
5%
6%
40
*
National Gypsum cl
$6
Apr
May
77
110
14%
150
150
200
4%
24
24
1
35%
100
5%
28
4%
Preferred
Phillips Packing Co..——*
Phoenix Securities—
42
25
1
20%
*
100
1
Pennroad Corp vtc
1
Penn Cent L & P $5 pref—*
$2.80 preferred
*
Pa Gas & Elec class A
*
Pa Pr & Lt $7 pref
*
10
46
28
Oct
Jan
46
•41%
46
4%
Apr
Aug
National Container com..*
*
*
Class B
3%
29%
26%
104%
20
28%
May
.....
Nat Bond & Share Corp..*
600
74
34
July
"56%" 58" ~1~706
5%
Feb
Feb
28
7%
150
July
5% June
85
13
30
"IT266
39%
Low
6%
20
Patchogue-PlymouthMllls*
Pender (D) Grocery A—*
Pa Water & Power Co
25
8
7%
38
38
10
Parker Pen Co
Penn Salt Mfg Co
225
June
600
5
July
Aug
700
7%
5
Pittsburgh & Lake Erie. 50
Pittsburgh Plate Glass..25
Pleasant Valley Wine Co.l
35%
40
7
84,300
100
42
10
91
91
6%
Pittsburgh Forglngs
Jan
""■475
5%
Jan
3%
14%
105% 106%
3,200
5%
July
142
32%
"57%
Paramount Motors Corp.l
Feb
Jan
Jan
2%
16,000
1
Pantepec Oil of Venez
6%
120
32%
—*
Philadelphia Co com——*
Phlla Elec Co $5 pref
*
Phlla El Pow 8% pref...25
6
5%
32%
10
Pan Amer Airways
41%
38%
£37%
com.l
stock
81
42
23
Nat Auto Fibre Avto—*
*
*
5%
Page-Hersey Tubes Ltd—*
175
500
Jan
1st preferred
$1.30
Pacific Tin spec
Aug
1%
6%
2,025
110
"5%
*
500
18%
5%
45%
Sept
Pacific Public Service
14,300
147
4
1
$2 conv preferred
Jan
149
Mueller Brass Co com
National Fuel Gas
Jan
1
Pacific G & E 6% 1st pf-25
5%% 1st preferred.-.25
Pacific Ltg $6 pref
*
Pacific P & L 7% pref. 100
Apr
4%
18
6%
6
6%
Shares
Penn Mex Fuel Co..,
Apr
%
High
Low
*
9
33%
Mountain Producers.... 10
Nat Bellas Hess com
Securities
Pacific Eastern Corp
4
143
Mtge Bk of Col Am shs
National Baking Co
22
400
..100
Preferred A
1
86
100
83%
8%
4
* "16"
42
*
Moody Investors pref
Moore Corp Ltd com
4
Jan
July
Sept
1% May
109
38%
Monroe Loan Society A__*
Montana-Dakota
Oldetyme Distillers
Price
Peninsular Telep 00m
Midland Steel Products—
Mid vale Co
Week
Jan
Mar
Middle States Petrol—
Class B
for
of Prices
Overseas
—*
Marlon Steam Shovel
Masonite Corp
20
7%
Amer dep rights
Margay Oil Corp
Week's* Range
Sale
Par
12
22
Ma pes Consol Mfg
*
Marconi Internatl Marine
Last
High
Low
1936
Range Since Jan. 1 1936
STOCKS
(Continued)
Range Since Jan. 1 1936
Last
10,
Sales
Friday
Sales
Friday
STOCKS
(Continued)
Oct.
Exchange—Continued—Page 3
July
Volume
Week's Range
for
Sale
of Prices
Low
High
Week
Par
Price
Par
High
Low
United Profit Sharing
Selfridge Prov Stores—
Sentry Safety
Seton Leather com
23*
13*
100
£1
Control-—1
Amer dep rec
100
43*
43*
Mining—5
Shawinigan Wat & Pow._*
Shenandoah Corp com—1
$3 conv pref
25
Sherwin-Williams com..25
5% cum pref ser AAA 100
Sherwin-Williams of Can.*
Shreveport El Dorado Pipe
Line stamped
25
Simmons-Boardman Pub
834
TVs
Shattuck Denn
233*
23*
"~2jI
Sept
2,400
1,000
83*
243*
Sept
Oct
2,200
43*
Jan
U S Finishing
400
593*
1453*
Sept
Preferred
800
10
"21X
35
Singer Mfg Co Ltd—
Amer dep rec ord reg--£l
Oct
1,300
3*
July
'""90
402"
500
7
4,400
273*
30
163*
25
23*
23*
3,900
3*
Sept
Oct
328
Aug
33*
Jan
19
Jan
163*
13*
Oct
Jan
283*
273*
53*
283*
273*
534
43*
100
1,400
300
—100
Telep—100
Line.—10
Southern Union Gas——*
Southland Royalty Co—5
South Penn Oil
25
8o'west Pa Pipe Line...-50
43*"
Southern Pipe
2
7%
40H
20
154
154
Southern N E
43*
700
40
833*
600
63*
323*
700
16
402
"33*
U S Rubber Reclaiming..*
43*
Oct
73*
July
"16
100
850
183*
12
123*
33 34
303*
33*
333*
2,800
150
43*
10,700
59
7
613*
200
223*
2,700
716
343*
163*
33*
Mar
413*
Apr
Oct
Feb
934
100
70
173*
108?*
18
29
23*
3*
83*
93*
41
43*
Feb
Apr
613*
Oct
Aug
233*
Sept
Williams
1083*
93*
41V*
June
30
43*
June
Apr
Aug
100
51
Aug
54
July
Jan
40
Oct
Mar
1st & ref 5s
63* May
323* Mar
63* July
1st & ref 5s
9,700
6
3,000
43*
81
25
53*
53*
81
81
Tenn Products Corp com.*
3*
*
53*
66
5
Apr
*49
Sept
24 J*
Jan
103*
Aug
90
Jan
6
102
Aug
July
Jan
Mar
May
43*
81
Mar
Oct
Oct
Feb
53*—S3*
343*
133*
63*
Sept
934
Feb
2,450
16H
Aug
13
2,200
34%
133*
ord reg
£1
Am dep rets def reg
£1
Todd Shipyards Corp
♦
Toledo Edison 6% pref. 100
193*
43*
323*
48
48
105
105
July
June
Jan
Mar
Mar
Aug
Jan
10
683*
53*
July
213*
53*
503$
Appalachian El Pr 5s. 1956
Appalachian Power 53.1941
33*
4
2J*
4,400
33*
Jan
2,200
13*
Jan
343*
363*
200
53*
53*
213*
Mar
Mar
363*
113*
8
93*
103*
3,700
463*
Sept
13
6
May
113*
1,600
233*
Jan
483*
123*
Sept
*
163*
15
163*
27,500
7 3*
113*
113*
143*
123*
1,300
1,200
Sept
123*
16>*
163*
Ulen & Co 73*% pref—25
73*
7
1
45
1
8
*
8
9
10
2,600
6
43*
7
50
-
"""666
om
*
United Corp warrants..-..
United Elastic Corp
*
United Gas Corp com
7
1st $7 pref non-voting .*
Option warrants
United G & E
com
conv
1st pref
United Milk Products
$3 preferred
United
13*
'"73*
A—*
Common class B
$6
1193*
7% pref. 100
United Lt & Pow
43*
Oct
July
*
Feb
Feb
Jan
Feb
Debenture
10
7
43*
...1950
Conv deb 5s
Oct
Mar
Feb
Sept
Sept
Feb
Feb
Mar
Oct
Oct
1968
5s
53*s
1977
Assoc Rayon 5s
1950
Assoc T & T deb 53*8 A '55
Atlanta Gas Lt 43*8..1955
Atlas Plywood 53*8—1943
6s with warrants... 1938
stamped
Mar
Bethlehem
22
Mar
_
101
273*
73*
64
May
Mar
2X June
Apr
7X
10% May
1
Apr
Aug
Sept
Sept
May
93* May
85 ~
53*
10
163*
3
Oct
Feb
Apr
July
400
Feb
153*
Feb
July
40
Jan
3
Oct
3
Feb
30
100
'2^200
1,500
33*
5%
12,300
9,200
1,700
913*
Oct
July
7
Jan
Jan
11
Mar
Jan
37 3*
Aug
Feb
Jan
73* Mar
363* Sept
13* June
93*
47
43*
900
Oct
Feb
6J*
73*
1173* 1193*
13*
13*
943*
943*
1023*
Mar
1003*
933*
1063*
22,000
20,000
28,000
18
213*
49,000
253*
14,000
243*
1073* 1083* 114,000
1003* 1013* 143,000
793* May
1053* May
1033*
Feb
33*
Jan
133*
Jan
106
-923*
1023*
Jan
Jan
Aug
94
1083*
1063*
213*
283*
1083*
1033*
1053*
105
1073*
1063*
15I660
1133*
106
*1083*
110
Apr
Feb
Feb
1083*
Feb
1193*
10434
553* May
653*
Jan
803*
July
Mar
743*
Oct
Mar
55
Oct
Mar
543*
70,000
63
65
119,000
75
77
13,000
743*
743*
53
55
54 3*
53
543* 119,000
573*
573*
56 X
58
210.000
30
Jan
58
Oct
563*
58
233,000
29
Mar
58
Oct
62
63
41,000
33
Mar
63
97
593*
963*
16,000
75
Jan
97
88
86
51,000
78
Jan
913*
1003* May
Jan
963*
1053*
Oct
1043*
Sept
73*
28,700
1063*
973*
873*
"look
111
Carolina Pr & Lt 5s... 1956
1033*
Aug
July
Cedar Rapids
Jan
68
63*
Jan
203*
Sept
Jan
563*
Sept
July
July
Jan
June
25,000
1213* 1253*
30,000
15,000
35V*
423*
283*
273*
Oct
Oct
Oct
Mar
Apr
1253*
Oct
123
1213*
Canadian Pac Ry 6s..1942
Jan
97
1,000
46,000
1043* 1053*
1043*
104
Mar
53*
293*
98
104
Sept
63*
Feb
84
May
Buffalo Gen Elec 5s... 1939
257
96
41,000
1043*
1073*
Canada Northern Pr 5s '53
Jan
Feb
36,000
1003*
102
Jan
Sept
31,000
102
12,000
Mar
Mar
5%
1043*
33,000
234
23*
943*
834
93*
Feb
1073*
1043*
1063*
106
103*
93*
120
107
Jan
June
Apr
50
Apr
1023*
963*
103
July
1,300
14,000
13"666
1960
41,600
6,900
104
107
*1033* 104
1033* 104
1033*
1053* 1053*
1053*
Steel 6s—1998
13*
2553*
-108
Broad River Pow 5s__1954
Molasses Co-
2341
Jan
May
63*
1063*
125
79
Apr
125
Oct
120
1233*
733*
Apr
123 3*
Oct
75
Apr
1233*
1143*
Jan
117
Mar
Sept
May
19,000
80,000
1193* 1233* 311,000
123
73*
Oct
600
73*
47
23*
1st M 5s series B—1957
143*
943*
43
73*
5s series C
Jan
Aug
Aug
July
100
153*
500
83*
1143* 1153*
1213* 1223*
10 V*
8,000
Am deo rets ord reg—£1
102
1223*
52 3*
*
United N J RR & Canal 100
1043*
"1223*
Apr
83*
83*
J105
1938
6s stamped x w
Feb
623*
7
1103*
400
3
433*
23*
7%
47
Bell Telep of Canada—
1st M 5s series A—1955
73*
353*
203*
103*
60
1023*
Apr
29
w
200
59
5,000
33
"3% ""43*
W..1938
6s without warrants 1938
6s
523*
20
83*
Jan
Baldwin Locom Works—
Blnghamton L H & P 5s *46
Birmingham Elec 43*s 1968
Birmingham Gas 5s—1959
61
*
For footnotes see page
1938
53*s registered... 1938
Conv aeD 43*s C—1948
Conv deb 43*s._
1949
Apr
203*
_*
Jan
"
53*8
Conv deb
12
400
233*
Jan
Associated Gas & El Co—
800
8
73*
65
173*
63*
100
Associated Elec 43*s_.1953
8J*
13*
83*
153*
13*
73*
Jan
Feb
July
Aug
8
1
83*
143*
13*
Aug
163*
*
6,200
1033*
13*
163*
43*
1173* 1183*
523*
United Aircraft Transport
Warrants
part pref.
-
20
85
33*
104
943*
43*
"123* ~"l23* "l23*
*
2,700
Union Stock Yards—100
cum &
Apr
June
234
2
10
$3
7
100
273*
118"
2024
Debenture 6s
Conv deb
113*
103*
Sept
66
107
Arkansas Pr & Lt 5s.. 1956
Feb
Apr
23*
stp—1946
Amer Seating 6s
Apr
Jan
Am Roll Mill deb 53—1948
Aim
113
3*
13*
43*s__1947
Aug
Triplex Safety Glass Co—
Tubize Chatlllon Corp.—1
193*
43*
373*
Oct
13* June
80
73*
Amer Radiator
106
4
Am dep rets for ord reg—
13*
Oct
Jan
23*
Tri-State T & T 6 % pref. 10
Trunz Pork Stores
_.*
15
Oct
Trans Lux Pict Screen-
_1
43*
253*
Mar
June
Tri-Continental warrants..
Jan
13*
19
70
85
85
213*
103
100
300
1,350
29
73*
93*
53*s'53
107
7% preferred A
100
Tonopah Belmont Devel.l
Tonopah Mining of Nev._l
600
3
953*
103*
53*
103*
23*
23*
363*
Mar
63* June
Corp deb 6s '57
Amer G & El deb 5s...2028
Am Pow & Lt deb 68—2016
Tobacco Securities Trust
Am dep rets
Aug
Apr
105
1053* 1063*
1,800
23*
July
May
100
106
Amer Com'ity Pow
"33* "4"" "2466
333*
63*
18
1,800
7,500
9,400
3
63*
Jan
300
50
Aluminium Ltd deb 5s 1948
Am El Pow
31
33*
13*
23*
63*
Sept
81
1023* 1023*
1063*
Oct
"8
23*
Jan
20
60
Aluminum Co s f deb 5s '52
43*8
Feb
65
83*
"933*
1st & ref
1113*
500
583*
1967
.....1956
1968
1st & ref 5s
Apr
73*
23
"60"
1063*
1033*
1013*
993*
93 3*
1063*
Apr
73*
2
1942
1946
1951
Sept
Tobacco and Allied Stocks *
Tobacco Prod Exports—*
1,500
28
18
May
Alabama Power Co—
516
313*
133*
-1
Tlshman Realty & Const.*
500
13*
in
534
89
BONDS—
Abbott's Dairy 6s
43*
"~53f
*
Tllo Roofing Inc
2%
323*
193*
......5
Yukon Gold Co
1003*
2,000
1,700
10,700
4
1013*
Mar
Mar
Youngstown Steel Door..*
20
6
13*
3*
23*
77 H
,
Oct
Jan
13,400
3*
3*
53*
4
13*
8,700
5s
Amer deposit rets
Wright-Hargreaves Ltd.
1113* 1113*
—100
Texon Oil A Land Co
2
Texas P&L7% pref.
United Chemica's
*
1st & ref 5s
273*
33*
83*
103*
26
Jan
Woodley Petroleum
1
Woolworth (F W) Ltd—
Apr
26 3*
800
3
5
Technicolor Inc common-*
May
200
3
3,000
33*
173*
93
1
53*
123*
Jan
89
Winnipeg Electic Co
*
Wise Pr & Lt 7% pref.. 100
Wolverine Portl Cement. 10
750
600
46
33* May
733* May
32
19,400
3,700
40
100
33
53*
2,100
225
72
43*
*
53*
43*
Traction Co
Conv preferred
Wilson-Jones Co
52
Jan
Sept
*
Wil-low Cafeterias Inc.—1
200
23*
1
7% 1st pf.100
pref..*
(RC)&Co
*
Oll-O-Mat Ht..*
9,000
40
13*
Jan
—*
Oct
Jan
243*
4
32
500
273*
Williams
Oct
Jan
2
200
Westmoreland Coal Co..
83*
90
393*
15
Western Tab & Sta
Westmoreland Co
Feb
43*
93*
263*
13*
83*
13*
100
1st preferred
173*
54
7
6% pf.100
20
West Va Coal & Coke
Feb
"23*
Teck-Hughes Mines
1
Supply A__*
West Texas Util $6
18
Tampa Electric Co com.-*
Tastyeast Inc class A
1
Taylor Distilling Co—-_1
Union
7%
163*
83*
843*
53
253*
*
*
153*
23*
47H
123*
53*
53
24
8
Oct
May
43*
Feb
53* June
223*
Apr
9
13*
23*
34
233*
83*
Jan
Jan
103*
27
18
100
53* June
43* May
Apr
253*
10
Jan
100
300
900
3*
153*
103*
Jan
200
102
Taggart Corp common
*
Talcott (J) Inc 53*% pf-60
Jan
SX
7X
133*
233*
133*
233*
common..*
Waltt & Bond class A
13*
43*
63*
Jan
3
7,700
183*
175
5%
1,200
4,000
20,800
943*
70
Jan
203*
"90
1
33*
43*
Vs
Va Pub Serv 7% pref.. 100
West. Cartridge
5
V
Western Maryland Ry—
25
Mar
33*
Western Grocery Co
203*
July
413*
Jan
3,300
Sept
Aug
3,400
May
13*
943*
253*
7
July
Sept
Sept
33*
1
353*
73*
63*
5
33*
33*
19
33*
Aug
13*
943*
243*
53*
1073*
2,400
150
450
7,400
95
Jan
Sept
33*
Western Auto
33*
1,800
2X
Jan
13*
Western Air Express
2,100
26
Aug
May
63*
Jan
73*
23*
223*
m
5
23
28
Feb
33*
27
33*
1,500
IX
1
Feb
Oct
163*
1
Union Gas of Canada
100
Jan
Sept
27
490
14
70
Venezuelan Petrol
Apr
73*
33*
23*
203*
63*
Venezuela Mex Oil Co.—10
July
133*
Syracuse Ltg 6% pref..100
5% preferred
3
Class B
11
6
13*
13*
July
2
33*
1 Vs
2
Jan
33*
15
Swiss Am Elec pref.—100
Unexcelled Mfg Co
'<!
Conv preferred
Util Pow & Lt common.. .1
33
Oct
2,700
23*
38
4
86
1
29
100
30
3 3*
35
1
Wayne Pump common...1
Wentworth Mfg Co
5
Jan
23*
Sept
3*
Priority stock
*;
Utility & Ind Corp com.. »
Walker Mining Co..
Mar
23*
23*
99
100
Apr
3*
42
Apr
2X May
Apr
59
2,800
693*
71
July
June
23*
"l3*
Mar
Apr
90
9
9
53*
*
Jan
Jan
Sept
26
233*
Utility Equities Corp..—*
*
193*
Mining Co.—lOc
...
pf 100
Utica Gas & Elec 7%
Wahl (The) Co
Jan
5,200
23*
95
50
*
Utah Radio Prod
Waco Aircraft Co
8%
1
50
-
Utah Apex Mining Co
5
Utah pow & Lt $7 pref—*
Vogt Manufacturing
23* May
Apr
23*
534
163*
4
33*
123*
353*
173*
133*
50 1083*
33*
5,700
250
1
Feb
Fah
213*
83
373*
400
1
X
534
15)4
23*
16
33*
-*
Aug
Jan
43*
Swan Finch Oil Corp
80c div pref...
Twin Coach Co
...
13*
413*
250
22
Class A
Universal Products
333*
43*
3,000
"27
Tung-Sol Lamp Works
8
103*
97
103*
33*
May
*
10
Universal Insurance
Sept
.123*
*
Common
Universal Consol Oil
Feb
Sept
Apr
July
38
*
United Wall Paper
3*
3*
7
123*
*
*
Thew Shovel Coal Co
Feb
IX
Jan
Sept
Aug
$7 conv 1st pref
United Stores vtc
Jan
7
Sullivan Machinery
Texas Gulf Producing
July
July
July
July
Aug
Feb
Feb
Mar
Sept
May
60
Feb
Jan
600
1083* 1083*
403*
Stutz Motor Car
Tenn El Pow
293*
283*
63*
763*
1553*
73*
23*
113*
40 J*
June
13*
*
Jan
3*
3*
93*
2,100
716
70
50
20
1
1
*
Swiss Oil Corp
600
203*
213*
100
53* % conv pref..
10,700
1053*
105
Sterchl Bros Stores——*
Sun ray Oil
750
463*
193*
123*
443*
19H
common..*
Sterling Inc
Stetson (J B) Co com
Stroock (S) & Co.
U S Stores Corp com
Class B
100
Sterling Brewers Inc
July
33
1
Common class B
*
Preferred
*
Standard Products Co—1
Standard Sliver Lead
1
Steel Co of Can Ltd
*
Sunshine
'16
3,000
16
Standard P&L
preferred
Jan
Jan
1,900
313*
33
*
*
Standard Cap & Seal com .5
Standard Dredging Co—
Common
—-—*
Conv preferred
*
Stand Investing $5.50 pf-*
Standard Oil (Ky)
10
Standard Oil (Neb)
25
Standard Oil (Ohio) com 25
2d
Jan
1,300
—
Standard Brewing Co
1st preferred
1
83*
403*
93*
33
93*
224
28
Sept
7% preferred
3*
■*16
Spencer Chain Stores..__*
Square D class A pref----*
6%% pref
May
33* June
48
ord reg—£1,
Stein (A) & Co
141
23*
73*
40
Spanish & Gen Corp—
Am dep rets ord bear__£l
5% preferred
343* Feb
273* Mar
253*
Jan
23* May
763* July
""2X
Oct
Aug
35
--*
U S Playing Card
U ni versal Pictures com
10
38
38
2734
1.725
95
15J*
23*
*
United Verde Exten...50c
163*
6% original preferred-25
6% preferred B_
25
53* % pref series C—25
Southern Colo Pow cl A.25
Stahl-Meyer Inc com.-
1st pref with warr
10
U S Radiator Corp com..*
7% preferred
100
Southern Calif Edison—
Am dep rets
1
U S and Int'l Securities..*
213*
200
40
6K
27%
89?*
403*
8*
Jan
100
US Foil Co class B
Smith (L C) &
~~2H
600
""600
1
common.._»
Apr
175
1936
High
Low
.
Apr
116
83J*
3*
»16
Sonotone Corp
25
Preferred
U S Lines pref
370"
13*
13*
U S Dairy Prod class A—*
Class B__
*
1103* 1103*
20
213*
Corona
Typewriter v t o com—*
Smith (Howd) Paper Mills*
United Shipyards com B_. 1
53*
1303* 1313*
Conv pref..—
Shares
883*
13*
United Shoe Mach com..25
600
3,400
1303*
Simpsons Ltd 63* % pfd 100
Singer Mfg Co
100
High
39
Feb
Apr
15
Range Since Jan. 1
for
Week
of Prices
Low
Price
"Ik "13*
»
10
Preferred
43*
83*
243*
23*
59
58
59
Mar
123*
12
12
*
Corp—1
7% preferred
Sale
(Concluded)
Shares
Week's Range
Last
STOCKS
Range Since Jan. 1 1936
Last
Sales
Friday
Sales
Friday
STOCKS
(iContinued)
Seversky Aircraft
2339
New York Curb Exchange—Continued—Page 4
143
Gen & ref 5s
1956
20,000
123
1,000
1413* 142
1063* 1063*
16,000
973*
145,000
963*
863*
t973*
873*
983*
4,000
31,000
"
9~66o
1063* 1063*
{1053* 109
7~66o
1643* 1043*
1103* 1113* 111,000
~
'1643*
M & P 5s.'53
Cent Ariz Lt & Pr 5s. 1960
23,000
"Iu63*
1033* 104
1123* 1123*
1063* 1063*
97,000
6,000
5,000
773*
Oct
116
Jan
1163*
Jan
1223*
12334
134
Jan
145
Mar
1053*
893*
Feb
1073*
Sept
Jan
973*
76
893*
1053*
104
1023*
1093*
983*
1113*
1053*
Jan
Jan
Apr
Apr
88
Oct
sept
1033* June
109
108
Jan
Feb
Mar
1053*
Apr
1163*
Aug
Mar
Jan
105
Sept
Jan
1133*
1073*
Feb
Mar
Jan
New York Curb Exchange—Continued—Page 5
.2340
Sales
Friday
BONDS
Last
Week's Range
for
(Continued)
Sale
of Prices
Loty
High
Range Since Jan. 1 1936
1st & ref
Low
Shares
102)4
1968
102%
4Hs series H__
1981
Cent Maine Pr 4%a E.1957
Cent Ohio Lt & Pr 68.1950
101%
ser
6s series G
Cent Power 5s
D..1957
ser
Cent Pow & Lt 1st 5s. 1956
Cent States Elec 5s
1948
1954
5%b ex-warrants
Cent States P & L 534 s '53
Chic Dlst Elec Gen
4%a '70
6s scries B
1961
103)4
10334
8,000
101% 102)4
102% 103%
47,000
21,000
18,000
10034 10134
*102)4 10334
103)4 103%
91
01%
95)4
5s
1940
Chlo Pneu Tools
6)4s.l942
Chic Rys 6s ctts
Cincinnati St Ry
.1927
103
70%
110% 110%
103
103%
76)4 76%
5%s A '52
98
98
1955
100
"5/)66
94
9934
Jan
Jan
105)4
10234
Sept
Jan
10434
Mar
79
Conv deb 5s
1950
Cities Service Gas 5%b '42
Cities
Service
Gas
Pipe
Line 6s
79
102 H
*98
1943
103%
76%
77
53
103% 104
10,000
7534
7734 106,000
7534
77)4 102,000
53
53
1,000
1st M 58 series B
61
6234
65
10434
105
Apr
May
Apr
Apr
Sept
Feb
Sept
7534
7834
8034
10634
1st
4%b series C
4%a series D
1956
1957
1st M 4s series F
1981
334s series H
1965
Com'wealth Subsld 5%b '48
Community Pr & Lt 5s '67
106
Feb
1947
103
102% 103
1953
104%
104
Jan
5s series C
1951
95%
June
Indiana Gen Serv 5s.. 1948
Aug
Indiana Hydro-Elec 5s '58
Indiana & Mich Elec 5s '55
107
104
June
67
80
Jan
86%
Jan
98
Aug
93
Jan
69%
6934
9734
Jan
Oct
86)4 June
8534 June
10334
102
Mar
65%
Jan
66%
Jan
34
Feb
105
8034
8034
53)4
July
July
Aug
Il2"
11134 112
19,000
11054
Jan
11034
10734
110% 11034
107)4 10734
113
Mar
59,000
105%
Jan
108
May
10634
103)4
106)4 106%
19,000
103)4 10334
21,000
82%
8634 154,000
100)4 10034
3,000
10334
10234
63%
Jan
106%
Apr
99 34
Aug
124
9,000
110
July
Jan
11334
113)4
105
86)4
1962
106
10634
6,000
14,000
tll0)4 111
123
Gen mtge 4%b
1954
Consol Gas El Lt & P (Bait)
June
Jan
Mar
Jan
Debenture 6s
72
72
3,000
May
1952
Interstate Public Service—
195
4)4s series F
91
5s series A w w
85%
123
3,000
Without
Mar
Iowa Pub Serv 5s
5s series B
105%
434s..1958
1957
Mar
109
Jan
Jan
Isotta Fraschinl 7s
105%
Jan
110
Feb
Aug
107
Sept
100)4
Mar
12434
July
9534
98
22,000
88
Jan
w.1943
31
30
31
3,000
28
Sept
48
Jan
94%
93%
Jan
95
Aug
Aug
104
Apr
1958
Crucible Steel 5s
1940
Cuban Telephone 7%b 1941
Cuban Tobacco 5s
1944
Cumberl'd Co P&L4%» '56
9434 275,000
10234 10234 26,000
3,000
97)4
78
78
85%
101%
88%
Jacksonville Gas 5s
"53%
52%
Stamped
..1948
Apr
Sept
May
10534
10734 May
99%
Jan
105)4
Jan
102%
Jan
103)4
Aug
10734
106%
Mar
Lehigh Pow Secur 6s_ .2026
Lexington Utilities 53.1952
Libby McN & LIbby 5s '42
July
Lone Star Gas 5s
105
102V
Derby Gas & Elec 5s..1946
103%
10634
*10834 110
10234 103)4
106)4 107
29:600
A.1947
1950
10534
10534 106)4
14,000
41,000
Detroit Internat Bridge—
6%s
Aug 1 1952
15
9%
15
110,000
4%
Certificates of deposit.
13
9
13
104
"87%
87,000
4%
6
117,000
5)4 109,000
102)4 10234
7,000
92% 93)4 195,000
89
90)4 263,000
%
54
10134
92)4
109
6
5)4
10234
03%
99%
10234
9834
80)4
,2)4
2
109
104
104)4
102% 10234
86% 87%
2,000
12,000
1,000
73,000
*55
62
107
107
5,000
25
25
1,000
3%
92%
2)4
i6
T660
3)4
92%
50,000
101)4 101)4
103
10334
103% 103%
7,000
25,000
19,000
91
74
40%
105)4
Jan
May
108
May
109
15
13
Apr
Feb
Kimberly-Clark 6s...1943
Koppers G & C deb 5s. 1947
Sink fund deb
103%
fla Power Corp 5)4s.l979
104%
*93
Oct
Oct
Louisville G & E
6
Oct
Oct
99
Jan
104
Aug
QQ
10034
Deb gold 6s. June 15 1941
99% 81,000
100% 101% 122,000
|99
99%
104%
Sept
92% June
106
7s without warrants. 1941
McCallum Hosiery 6%b '41
McCord Rad & Mfg 6s '43
93 H
434s C '61
110
Sept
Jan
105)4
Aug
Jan
104
July
92
Jan
Midland Valley 5s
1943
Mllw Gas Light 4)4s_. 1967
Jan
•69
June
Jan
108
June
25
Oct
July
1%
75%
Apr
99%
Feb
Jan
3934
Jan
2834 June
5%
93)4
Feb
Aug
Sept
9734
108%
Sept
Sept
Apr
107
91
05
May
Jan
101%
May
May
107)4
Oct
111H
Feb
Jan
82J4
Oct
Memphis P & L 5s A..1948
Metropolitan Ed 4s E.1971
MlnnP&L434s
63
Jan
82 %
Oct
Sept
9634
106%
Feb
Jan
95%
106%
Jan
17
Feb
Jan
83
July
54
Feb
85%
July
53%
Feb
107
Jan
63%
23,000
10,000
103
Feb
88
Feb
59
Aug
Aug
81%
Apr
104% July
104)4 May
104%
Apr
101%
Jan
47:666
53
17,000
107
3,000
44
Jan
65
70
55%
53
52%
104% 105
106% 106)4
119% 119%
102
102%
6,000
26,000
2,000
4,000
98%
9954
106
107
May
39%
Jan
47%
105%
May
Aug
103%
103%
115%
10034
Apr
Jan
Jan
Feb
1955
Miss Pow & Lt 5s
1957
95%
99%
Mississippi Riv Fuel 6s '44
Miss River Pow 1st 5s. 1951
634s '55
Missouri Pub Serv 5s. 1947
Feb
Feb
12.000
90
A
5,000
101
F
2,000
103% 10334
10 2%. 10334
104% 105
111% 112%
104% 10434
104 % 104%
104% 104)4
105% 10534
106
106)4
105% 106
87%
88%
95%
F
90
A
2,000
103%
J
6,000
10234
10334
108)4
M
102%
J
J
2,000
10334
102)4
F
3,000
105
A
19,000
10334
J
11,000
105)4
8e
8,000
75%
J
17,000
68,000
7,000
13,000
A
F
95
107%
82
10234
July
Jan
100
Jan
10634
9534
105)4
Mar
-9034
Apr
.9934
Oct
Jan
885
Jan
100
Sept
92
Jan
10234
Sept
83)4
Jan
10034
Sept
534s
1944
Munson SS 634s ctfs.,1937
96
3.000
56,000
81
82%
2.000
103 34
93%
11.000
122%
100
Sept
90
July
10234
Mar
Nelsner Bros Realty 6s '48
Nevada-Calif Elec 5s. 1956
160)4"
May
103
Oct
New Amsterdam Gas 5s '48
118)4
9534
96
79
Jan
90
July
Jan
70
N E Gas & EI Assn 5s. 1947
Conv deb 5s
1948
71
30
22%
June
27)4
20
June
27
Apr
86
May
95
Aug
Georgia Power re! 5s..1967
94%
103%
Georgia Pow & Lt 5s..1978
Gesfurel 6s
1953
Glen Alden Coal 4s
1965
Gobel
1941
(Adolf) 43^3
Grand Trunk West 4s. 1950
Gt Nor Pow 5s stpd._1950
Grocery Store Prod 6s. 1945
43^8 series B
1961
Hackensack Water 5s. 1938
5s series A
1977
Hall Print 6s stpd__._1947
5%b
1938
90
82
W~
103,)4
83%
104
'iol%
78
79)4
54%
70)4
56
76%
104)4 104%
Mar
79
Apr
May
92:666
85
Apr
3,000
79
Aug
47,000
90
Jan
11:660
3,000
56,000
31,000
10254 10234
98
9534
29
107
"79%
Hamburg Elec 7s
1935
Hamburg El Underground
& St Ry
48,000
9434
104)4 212,000
85)4 8634
18,000
t33% 3434
90
Guantanamo & West 6s '58
Guardian Investors 5s. 1948
Gulf States Utll 5s... 1956
9334
103
2,000
109)4 10934
1109% 110%
97% 98)4
*2734 29%
15,000
Feb
tnflklrCK
Ext
4%s '67
106%
G~4)48^1980
103%
N Y P&L Corn 1st
N Y State E &
1st
534s.-.A
N Y & Westcb'r
Debenture
1902
10,000
Jan
liojJWdy
72
Jan
98)4
Oct
May
43)4
Jan
*10334 10434
105% 105%
28:666
Jan
Hydraulic Pow 5s
1950
Mar
32)4
10434
10734
10334
Jan
Jan
July
108
Mar
July
103
A
Mar
107)4
Mar
104
Mar
107
Aug
111)4 June
2341
11,000
85
10,000
Aug
10434
Oct
107)4
106)4
Mar
May
107)4
Feb
88%
Oct
Aug
Mar
Oct
July
Jan
Sept
Aug
8ept
Aug
Oct
Sept
May
Oct
Feb
Aug
July
Aug
May
June
Feb
Oct
July
Feb
74%
Jan
Mar
9134
Sept
86%
July
Feb
Feb
Mar
69
Jan
97
May
104%
Oct
6.000
105
July
110)4
Mar
23,000
105
Apr
107%
37.000
102)4
Jan
—
2,000
103%
10534 Mar
101% Aug
Apr
111%
10534 May
84% Mar
Apr
104
July
108%
10534
112%
Mar
Jan
Feb
No Amer Lt & Pow—
1978
1981
91
-
10834 10834
106% 107
103% 104
107% 107%
*106
Niagara Falls Pow5sAI959
Nippon El Pow 6)4s..l953
10734
1st 4Hs series D
1st 4Ks series E
16:666
89%
84%
*104)4
*111)4 112%
1954
534» series A
Nor Cont'l Utll
114
Jan
86%
1956
534s__1948
No Indiana G & E 6s. 1952
27% 27)4
*10034 101)4
104)4 10434
10234
10234 10234
92,000
*102
Ltg 4s 2004
5s\-
25
65:600
85
4)4s stamped..1950
Jan
Aug
104)4
Sept
Mar
1.000
see page
10434
89%
5%b '50
Sept
100
June
7934
7934
99%
102%
New York Penn & Ohio—
Mar
Jan
1942
Mar
60
Aug
99%
5s stamped
June
105
79%
83,000
Income 6s series A..1949
Apr
June
109
110,000
Debenture 534s
1954
New Orleans Pub Serv—
Aug
Sept
10434
106 J4
112%
119
205,000
96
July
104%
100%
250,000
77%
103
8234
104%
102%
10834
10534
78
77%
N Y Central Elec
108
2,000
footnotes
Feb
6,000
Conv deb 5s
1950
New Eng Pow Assn 5s. 1948
Mar
Jan
Jan
105)4 105)4
For
8ept
Sept
July
1953
6%b with warrants-1943
Houston Light & Power—
3834
9034
44
1st 5s series A
1936
Houston Gulf Gas 0s.. 1943
93
64
105)4
2154 June
100^g Sept
10334 May
9734
Jan
Hood Rubber 7s
104)4
Aug
July
99 H
Apr
125
6,000
93
25
103
37%
193,000
98
2634
Sept
112
1,000
6,000
*21
100%
108%
Aug
97
577,000
15,000
59,000
*68
Mar
1034
57,000
36
110
99
%21
Mar
106
36,000
103
Certificates of deposit...
Gen Wat Wks & El 5s. 1943
100
10634
119%
103%
101%
10
98
General Rayon 6s A..1948
Gen Vending Corp 6s. 1937
Jan
Jan
108% May
Oct
82%
40,000
102
Jan
61
108
10734 May
109% June
24,000
98"
82
Feb
June
100
13,000
9%
June
71
95%
45,000
103"
"MOO
75
Jan
Feb
Sept
90
106%
3,000
1941
98%
106
103%
75.000
General Bronze 6s
1940
General Pub Serv 5s..1953
Gen Pub Utll 6%B A. 1956
Deb 6s series B
106%
Feb
July
107)4
5,000
2022
6s series A
100
96
30,000
105
Deb 5s series B
2030
Nat Pub Serv 5a ctfs.1978
Nebraska Power 434s. 1981
107
101
10034
m%
34,000
95%
99)4
106%
108%
107%
100
Nassau & Suffolk Ltg 5s '45
Nat Pow & Lt 6s A...2026
Jan
Apr
10734 May
Montana Dakota Utilities
10534
87%
10434
3,000
Jan
Feb
102%
103
11,000
23,000
107%
92
62
12,000
106)4
9834
106 %
10734
79)4
27
103% 10334
10634 10634
97
98%
94%
Feb
Aug
69%
Apr
105 % 105%
85% July
109)4
98%
99
17:606
101% 10234
106% 106%
1955
5s
Aug
July
Jan
50
Apr
50
*-...
102% 103
103%
1978
5s...
Mississippi Pow
102
102
Feb
69
104%
4%
*25)4
Middle States Pet 634s '45
Jan
Gar^ Electric & Gas—
'
102%
Manitoba Power 534s-195t
Mansfield MIn & Smelt—
Jan
104
105%
Jan
Mar
31,000
1942
6
Mar
Jan
Jan
86%
78
101)4 102
Long Island Ltg 6s... 1945
Louisiana Pow «fc Lt 5s "*57
91
95
10334 10434
18:606
.9934 176.000
107
534s.1950
Jan
Sept
96
100
100
1969
Missouri Pow & Lt
103
98%
1955
5s series I
Jan
28
*28
Firestone Tire & Rub 5s '42
First Bohemian Glass 7s '67
5s ex-warr stamped. 1944
Gatlneau Power 1st 5s. 1956
634s series D
534s series F
106
9,000
Florida Power & Lt 53.1954
1st mtge 5s ser H..1961
2,000
Jan
Sept
Oct
Kentucky Utilities Co—
Jan
3,000
Banks 6s-6s stpd__.1961
Firestone Cot Mills 5s. 1948
1947
Sept
104% 104 34
Federal Water Serv 5%b '54
Finland Residential Mtge
Kansas Power 5s
70
104)4
European Mtge Inv 7s C'67
.Farmers Nat Mtge 7s. 1963
Federal Sugar Ref 6s..1933
106)4
105
10634
Empire Dlst El 5s
1952
Empire Oil & Ref 5J4s_ 1942
Ercole Marelll Elec Mfg—
6%s series A
1953
Erie Lighting 5s...... 1967
105
1961
1,000
...1952
Elmlra Wat Lt & RR 5s '56
El Paso Elec 5s A
1950
1947
16,000
Delaware El Pow 53^Js_ 1969
Denver Gas & Elec 6s_1949
Eastern Gas & Fuel 4s 1956
Elec Power & Light 5s.2030
5s series B
Kansas Gas & Elec 6s.2022
10534
110
99%
3,000
105% 105%
107
Jamaica Wat Sup 534s '55
Jersey Central Pow & Lt—
105
10734 108
106% 10634
Aug 1 1952
Certificates of depositDixie Gulf Gas 6^8.. 1937
10234 June
8334
Apr
10734 June
Aug
103)4
1942
105
Dallas Pow & Lt 6s A. 1949
Deb 7s
Jan
10534
79,000
101
*65
1942
4)4 s series C
98
Jan
Jan
Jan
85%
84
63
Isarco Hydro Elec 7S.1952
109
Mar
99
95
86
13,000
*105)4 106%
*105)4
...1961
May
120
Feb
June
91%
1100% 101
warrants
12734
106
10634
91
101
1947
Iowa-Neb L & P 5s... 1957
11254 May
Oct
109
106
Invest Co of Amer—
106%
Sept
100
Jan
Jan
\
1956
5s series D
Feb
A. .1943
ser
6,000
106
110)4
4s 1981 called
Det City Gas 6s
5s 1st series B
7134
Oct
Sept
Consol Gas Utll Co.—
5s series C.
70
101
106%
tl05
1981
Cont'l Gas & El 5s
71%
Italian Superpower 6s. 1963
1939
w
1955
International Salt 5s..1951
International Sec 5s. .1947
Iowa Pow <fe Lt
1,000
14
Jan
Feb
Feb
Sept
International Power Seo—
70
71% 22,000
*107)4 10834
53".666
99% 100 %
99%
77%
79
179,000
78%
66
69
68%
135,000
Mar
1956
6%a
Intercontlnents Pow 6s '48
87
106
82%
82
81%
109%
106
109%
72
110%
5s series D
Conv deb
1963
Jan
Mar
101%
2,000
111% 111%
79%
82% 10,3,000
79
81,000
82%
87
46,000
82%
10534 10634
13,000
10%
14)4 122,000
1957
10,000
4%a series C
ser
1st lien & ref 5s
Indianapolis Gas 5s A. 1952
Ind'polis P L 5s ser A. 1957
81%
83%
56%
1, 1936
High
58—~Jan
107
104%
1952
Consol Gas (Bait City)—
1st & coll 68
1950
Low
4,000
7s series F
111
1951
f 4s
Indiana Service 5s
12,000
6,000
7s series E
111,
12734 127%
10734 108
s
1957
96
10734
July
Connecticut Light/ & Power
1st ref
5s
96
8,000
9,000
23.00c
May
Apr
113
105
95%
95%
107% 107%
Apr
Apr
Jan
99%
2,000
45,000
104% 105%
102% 103)4 124,000
99
40,000
9934
6s series A
11134
Jan
5)48...May 1957
Indiana Electric Corp—
634s series B
Jan
10034
1st & ref 5s
S f deb
107 %
Jan
110)4
1960
5s
105M
103)4
ser
Feb
10,000
1954
;
1st & ref 5%b ser B.1954
ser C...1956
Sept
95
3,000
9,000
52,000
104)4
97
11,000
80,000
May
88% June
82%
Jan
77%
70-34—76)4
99% 100
101%
111 Pow & L 1st 6s
90
76%
10844 109
105% 105%
111 Northern Utll 5s... 1957
Apr
11034 111
11034
77%
76%
108%
1936
Range Since Jan.
High] Shares
99%
Aug
10,000
27,000
100)4
52,000
70%
7634
79% 525,000
37,000
102)4 10334
for
Week
of Prices
"}105%
Illinois Central RR 08.1937
102
10434
109%
101%
78
Range,
Week's
Low
10,
Sales
A *53
Sept
Jan
Interstate Power 5s...1957
1st M 5s series A... 1953
7s series A
1947
Apr
Commonweafth Edison—
Community P S 5s
1949
6348 series C
Cities Serv P&L6)4s- 1952
5%b
1949
Commerz & Prlvat 5%a '37
1st
6s series B
Idaho Power 5s
9354
2,000
13,000
20,000
100
1966
6s series B
Cities Service 5s
Sale
10234
29,000
86,000
71%
7134 105,000
74
73%
71)4
129,000
74)4
77%
77% 130,000
105
105
10534 24,000
t105)4 106
"~95k"
10054
Chic Jet Ry & Union Stock
Yards
Last
Price
High
Hygrade Food 6s A... 1949
103
1950
F. 1967
4%b
BONDS
(Continued)
Central 111 Public Service—
6s series E
I
Friday
Week
Price
Oct.
70
107%
107%
86%
95
95%
65%
7%
107% 108
1,000
10,000
46,000
8,000
90%
53
106%
109
Jan
90
Feb
97
Mar
Jan
Apr
72
Oct
Mar
108
Jan
Volume
Aug
106
104#
Oct
Mar
105#
Oct
Sales
Friday
BONDS
Last
Week's Range
for
(Continued)
Sale
of Prices
Low
High
Shares
Low
»
..».„.1966
5sseriesD...
105
105
1909
5s serlesC.
.
4#s series E
No States Pow
1970
1940
5#s
N'western Elec 6s stmpl945
10524
10424 105
103
104#
10524
7624
103
N'western Pub Serv 6s 1967
22,000
10324 10324
10424 10424
10524 10524
N'western Power 6s A. 1960
48,000
14,000
21,000
78
103 24
9,000
24,000
28,000
Ogden Gas 6s
1945
108 #
10824 109
21,01)0
Ohio Edison 1st 5s
1960
105#
106#
10524 10624
10624 106 24
26,000
2,000
10524 10524
5,000
10924 10924
10524 1(36
110624 107
104 #
10424 10424
10 IVs
10224 10*5 24
1,000
Ohio Power 1st 5s B..1952
1st & ref
4#s
ser
102#
102#
98
102#
100#
51
98#
103#
105#
104
Price
Jan
Jan
Jan
Jan
100#
104
78
Standard Pow & Lt 68.1957
June_
Sept
June
Oct
Oct
Jan
103#
Jan
109# June
Jan
Mar
Apr
107
103#
107#
Mar
Apr
107
Mar
July
112
Feb
July
107
May
Ohio Public Service Co—
1953
6s series D
1954
5#s series E
1961
1950
Okla Gas & Elec 5s
1940
6s series A
Okla Nat Gas
10524
98#
4#s...l951
1946
5s conv debs
101
93
Okla Power & Water 6s *48
14,000
io'ooo
5,000
53,000
76,000
93 24
21,000
7,000
92 24
#
101#
10124 102
Pacific Coast Power 5s '40
106>4
108#
"104#
10624 10624
Pacific Invest 5s ser A_ 1948
12024
5S..1942
Pacific Pow & Ltg 5s._1955
Palmer Corp 6s
1938
Penn Cent L & P 4#s.1977
92 23
'10424
1971
1959
10224
Pennsylvania Power 5s '56
Penn Pub Serv 6s C__1947
3,000
11,000
5#s._1972
Piedmont & Nor 5s
Pittsburgh Coal 6s
11024
6s__1953
1939
Poor & Co 6s
Portland Gas & Coke 5s '40
Jan
87
Oct
49
Feb
65
Apr
Sept
53
47
Aug
45
*2*000
43
Aug
45
1,000
42
Sept
1,000
104
Apr
16.000
104
Apr
105# 105#
105#
105
3.000
Apr
106#
1
193.666
105#
Aug
53
Aug
60#
48#
106#
106#
110#
109#
Mar
Aug
Jan
Jan
Jan
Feb
95#
97#
Jan
98
Feb
86
85#
86
91,000
77# May
90
Feb
Ternl Hydro-El
63
61
63#
15,000
Jan
104# 105#
36
36#
61,000
2,000
106
33,000
6#s_.1953
Texas Elec Service 5s. 1960
105#
Oct
94#
86
93#
105#
Oct
Oct
Oct
Thermold Co 6s stpd. 1937
Tide Water Power 5s__ 1979
Jan
Tletz
102
Oct
Toledo Edison 5s
Apr
108
Aug
"97#
97#
iig
29
Jan
Mar
20,000
32
104#
Apr
Jan
90
July
98#
Jan
74# June
105#
40
Sept
Jan
106#
111#
Sept
100
Mar
103#
Sept
Jan
June
34
Mar
Apr
108
Mar
Jan
90#
Oct
July
84#
102#
Jan
Aug
1,000
110
Feb
7,000
107# May
107# Sept
116# Sept
24
107#
30*666
90#
89#
90# 120,000
106#
76#
42
41#
43
56.000
37#
102
1,000
1962
City Rap Tr 5#s *52
4,666
"97#
125
107
89
104
102# 103
10,J#
(Leonard) 7#s_1946
Twin
106#
U10#
2022
6s
Jan
Apr
119#
6s
Jan
Apr
121#
102#
Mar
3d stamped
1944
Union Amer Inv 5s A. 1948
116#
94#
May
Union Elec Lt & Power—
Mar
Feb
9,000
1954
105
Apr
104
May
5s series B
1967
Jan
Sept
4#s
1957
Apr
105#
107#
97#
Jan
102
Jan
Sept
1.000
106#
104#
111#
104#
Oct
114#
108#
86#
Jan
100
101#
98#
Mar
Mar
Apr
United Elec N J 4s... 1949
Aug
United El Serv 7s
Jan
Feb
106# June
105#
July
108#
July
108#
July
107
Aug
Jan
2424
98 24
86,000
26
525,000
11224 11224
11024 11124
31,000
90,000
1,000
96
5924
106
10424
2324
6,000
ex-w
108
Mar
Jan
105
Apr
20# May
103# Feb
106
6.000
11,000
10824
100
3,000
87
98
14,000
12524
7,000
20,000
'
24,000
2524
96#
65
June
105# Mar
100#
Jan
66#
Jan
90#. Jan
97#
Jan
22# June
27#
83#
107#
108#
91#
Mar
Jan
Jan
Aug
100#
Mar
Mar
Sept
101
July
32
Feb
1st ref 5s series B ..1950
1950
11124 112
1966
10724 10724
1,000
1978
10324 103 24
1,000
7s with
1954
warrants
1937
Wash Gas Light 5s
1958
Wash Ry & Elec 4s-.1951
Wash Water Power 5s. 1960
2030
West Penn Elec 5s
Too#
Jan
Jan
105#
Sept
102
Jan
104#
10524
10524 10524
103#
Apr
10524
10524 10524
10,000
Sept
Jan
106
101
101
104
Apr
Aug
103
Oct
Sept
30#
Sept
5,000
107
Jan
107#
Oct
97
75
73#
105# 106#
U07#
107# 107#
100# 100#
107
103# 103#
7,000
107
1,000
107#
Feb
32,000
105#
9,000
111#
Sept
Aug
97#
21,000
Mar
77#
26,000
Sept
Sept
106# Mar
J07# June
*9*666
107#
Oct
59,000
101#
Sept
1,000
10.000
109
Sept
104#
Ji
v/' -»•' y
Sept
96#
93#
89#
107# June
100# Aug
July
106#
103#
Oct
100# May
105#
90#
100#
95#
96,000
105#
109# 111
July
1937
102
105
29# 122,000
107
Yadkin Rlv Pow 5s... 1941
York Rys Co 5s
92#
Oct
Sept
105
100#
102
July
July
97#
105
107#
101#
90#
Ti
101#
106#
1966
14,000
Sept
60,000
Wlsc-Mlnn Lt & Pow 5s '44
17,000
96#
114#
90#
103#
91#
107#
106# 106#
106# 106#
107#
48.000
106# May
83#
28
West Texas Utll 5s A. 1957
Jan
18,000
107
96#
Jan
12,000
96#
102# 102#
112#
10324 104 24
104
1
100# 101
29#
107"
West Penn Traction 5s '60
Wise Pow & Lt 4s
70,000
95#
Jan
Aug
7.000
3,000
101
Waldorf-Astoria Corp—
Ward Baking 6s
12,000
101#
101# 102#
1940
Feb
10324 10424
27,000
105# 106
95# 116,000
94#
101
104
Oct
,
U02#
108#
Sept
July
1100
102#
73#
105
97
14.000
Un 6s '44
5#s '55
Wheeling Elec Co 5s__1941
18,000
lst & ref 5s
9,000
101# 102
105# 105#
105# 106#
West United G & E
132#
93#
9,000
145# May
14,000
June
102# 103#
1937
6s
92
88#
.1944
1946
63,000
103#
5#s '57
5#s registered
89#
16,000
Jan
14124 14124
5s series C
1980
F.1981
1960
Valvollne Oil 7s
32#
33#
114# 114#
87
88#
114#
1952
5s aeries E
West Newspaper
14124
Pub Serv of Nor Illlnols-
series D
.......
94#
June
"2*600
92#
105#
Utica Gas & Elec 5s D_ 1956
Mar
May
78,000
1973
Utah Pow & Lt 6s A..2022
Va Public Serv 5#s A. 1946
105
2324
1952
Vamma Water Pow
10,000
6,000
6s8eries A
Sept
Jan
Jan
75
Public Service of N J—
6% perpetual certificates
1974
1959
Un Lt & Rys (Del) 5#s '52
United Lt & Rys (Me)—
72
27#
88
88#
92#
6#s
5# 8
7,000
35
127#
27#
27#
1975
United Lt & Pow 6s
Mar
"i~o66
62
61
1945
4#s
116# 110#
116#
6#s 1941
1st s f 6s
100
1107
1956
June
103
10024 101
6s._ 1964
106#
112#
98#
108#
Mar
July
1.000
10424 10424
81
7824
10624 10624
98
Oct
113#
106
86
Power Corp(Can)4#s B *59
Power Securities 6s
1949
26
111# June
108# Aug
86#
Jan
105# Mar
41#
Jan
18,000
10624 106 24
104 24 105
2324
Jan
Mar
60
108
"80*
0
June
106# 106#
105
105#
106#
100
105
107
102
5s series A
101#
2,000
Potrero Sug 7s stpd__1947
ser
40#
95#
"98#
102#
98#
100#
35,000
5924
1961
4#s series F
s
84
Tennessee Elec Pow 5s 1956
Feb
10524 10524
10224 10324
96
Potomac Edison 5s E.1956
4#s series E
1st & ref 4#e
4#s series I
.1957
5s series B
2,000
107# 107#
1106# 108#
105
Mar
404#
35*666
10724 10724
1949
Pittsburgh Steel 6s—1948
4
105"
102
Jan
25
112 24
1954
Electric
1970
1954
6a series A
Pledm't Hydro-El 0#s '60
Prussian
May
44#
106#
Mar
9824
Phlla Rapid Transit 6s 1962
Phil Sub Co G & E 4# '57
Elec
4#8_
Texas Power & Lt 5s. .1956
98
U1124 11224
10424 104 24
1979
Phila Electric Co 5s._1966
Pomeranian
1st
Syracuse Ltg 5#s
Feb
80
1981
Peoples Lt & Pr 5s
High
02#
44#
107
114
1106
4#s series B
1968
Peoples Gas L & Coke—
4s series B
53
J42
44#
103# June
11,000
100'
110724 10724
1954
5s series D
Penn Water & Pow 5s. 1940
Phila Elec Pow
78 stamp ctfa dep. 1936
7-4% stamped..
1946
78 stmp ctfs dep. 1946
Super Power of 111 4#s '68
'66/i
10624 10624
1950
5#s series B
52#
1945
Penn Ohio Edison—
Deb
83#
1936
7-4% stamped
United Industrial
6s series A x-w
Low
81# 160,000
6,000
87
80#
5#8—1943
Texas Gas Utll 6s
2,000
11624 11624
92 24
9324 156.000
1,000
10224 10224
33,000
10424 10424
110524 .107
10124 10124
1979
ai,
12024 12024
100
Pacific Ltg & Pow
5s
Week
Shares
Ulen Co—
1941
Penp Electric 4s F
Range Since Jan. 1 1930
for
Range
of Prices
Low
High
Stinnes (Hugo) Corp—
Jan
Apr
Pacific Gas & El Co—
1st 6s series B
Standard Telep
Week's
80#
107#
106
9824
10024 10224
1941
Oswego Falls 6s
Sale
Tenn Public Service 5s 1970
D.1956
68 series C
Last
High
Northern Indiana P S—
Sales-
Friday
BONDS
(.Concluded)
Range Since Jan. 1 1936
Week
Price
»
2341
New York Curb Exchange—Concluded—Page 6
143
Pub Serv of Oklahoma—
1966
4s series A
9424
1st & ref
4#s
94 24
96
107,000
92 24
9124
8624
92 24
8724
46,000
83#
Jan
49,000
78#
10424 10424
2,000
103
Jan
Apr
106#
Feb
Jan
Feb
Mar
106
Puget Sound P & L 5#s *49
1st & ref 5s series C.1950
105#
86#
8,000
103
Jan
106#
Sept
D. 1950
8724
1968
ser
10424
Quebec Power 5s
Queens Boro Gas & Elec-
6#a series A
1952
Reliance Manag't 5s.. 1954
110024 101
87
Rochester Cent Pow 5s *63
Ruhr Gas Corp
10724
4#s '79
1624
St Louis Gas & Coke 6s *47
106
San Antonio PS5sB._1958
89
9724
2724
12524
2624
10724 10724
16
17 24
106
10624
6#s__1953
Ruhr Housing 6#s_._1958
Safe Harbor Water
10624
*8*666
2,000
~26~, 000
16,000
98# May
74
Jan
25
May
22# June
105#
12
20,000
101#
San Joaquin L & P 6s B '62
113124 132 24
1955
10824 10824
"i'.ooo
107#
2624
2624
2,000
24#
24
Aug
July
Saxon Pub Wks 6s... 1937
124
Baden 7s
95
Feb
Scripp (E W) Co 6#S_1943
Seattle Lighting 5s
1949
Second Int'l Sec 5s
1948
103
"68"
8hawinlgan W <fe P 4#s '67
4#s series B
1968
1st 4#s series D...1970
Sheridan^Wyo Coal 6s. 1947
Sou CarolTna Pow 58.1957
68
33
Feb
7s stamped
1952
27
Feb
7#s stamped
1947
Cauca Valley 7s
Debenture
Ref M
3#s
Jan
132
Sept
110
Jan
Danish
33
Jan
5a
30#
30
104
1,000
.68
72#
6.000
10424 10424
Jan
Feb
Feb
Feb
2,000
3,000
55#
57#
9#
12,000
7#
25#
6,000
128#
199
100
97#
98#
10,000
25#
1952
6s series A
5#s
1955
.»
1953
97#
1945
3#s B.July 1 '60
6#3
Jan
May
Jan
Jan
May
24# May
21#
21#
26#
Jan
Jan
Feb
72# 'Sept
74# Aug
11
Feb
33#
Mar
May
25
-25—
25
1947
Secured 6s
1939
Hanover (Prov) 6#s._1949
Lima (City) Peru 6#s.l958
1958
3,000
105#
Mar
105#
Sept
Mendoza
5.000
72
July
28,000
101
July
...1951
7#s
34
Jan
Jan
102
July
Jan
100
Aub
73
Apr
28#
28#
32#
26#
Feb
95#
89#
60
Aug
4s stamped
.1951
109
Aug
Mar
106#
Aug
101
Jan
107#
Oct
100#
106#
105#
Jan
107#
Oct
10624 10724
10624
10624 107
10624 10724
20.000
103#
77,000
107
16.000
IIo"
10724
10924 110
10724 10724
104 24 10424
4#s.l968
•
7,000
19,000
6,000
103
8524
46,000
103 24
10324 10324
24,000
10124
10124 102
10324 10424
16,000
92#
32,000
9924 10024
7,000
1951
Southern Nat Gas 6s..1944
S'western Assoc Tel 5s.1901
85
8524
S'western Lt & Pr 5s..1957
So'west Pow & Lt 6S..2022
Mar
111
Aug
Apr
107#
Oct
Feb
104#
June
Jan
86
Jan
104
Jan
Jan
103
Sept
99
Jan
91
Jan
104#
101#
June
56#
101
Sept
Sept
1945
105 24
4,000
100
May
106
Oct
Stand Gas & Elec 6s..1935
83 24
83
84
32,000
69
Jan
80
Sept
83
83
84 24
51,000
67# May
*87*"
83 24
21,000
69
May
83
8424
May
86#
86
64
May
51,000
63# May
19# May
May
9
13
Jan
18
Feb
Jan
Jan
Sept
Oct
Jan
14#
Aug
Feb
95
Jul?
63
Feb
88.
j»iv
18
*6*5*666
22#
13#
9#
71#
Jan
20#
July
17#
*13#
3,000
15
12
Jan
"6",000
12#
92#
20#
19
20#
22,000
15#
14#
15#
24.000
1#
1#
8,000
""I#
1#
1#
1#
1#
32,000
1#
1#
Sept
22
Apr
14#
Jan
12# Sept
Jan
99
10#
Jan
Jan
May
23#
17#
Apr
12#
2#
Jan
91,000
1#
Mar
1
Sept
Jan
# May
2#
Jan
June
2#
2#
Jan
1
67
67
5,000
1,000
68
Feb
71
Mar
51#
52 #
4,000
49
June
60
Apr
1949
12#
12#
1,000
1961
12#
12#
3,000
11#
11#
1945
stamped
*67~~
52#
#
Sept
Jan
Jan
12# May
12#
Oct
Sept
85
85#
85#
102#
*87#
May
Sept
85
51,000
34,000
66
8324
3,000
120#
120#
13#
112#
98#
98#
1945
Santa Fe 7s
7s
12#
4J)66
21
Sept
83
86#
86#
1919
1921
1921
6#s certificates
5#s
5#s certificates
2,000
12#
6s stamped
1931
Mtge Bk of Denmark 5s '72
Parana (State) 7s
1958
Rio de Janeiro 6#s..l959
Russian Govt 0#s
1919
17#
~
198#
Issue of Oct 1927..
107
5,000
17#
17#
Mtge Bk of Chile 6s... 1931
10724
44-.000 "18# May
27,000
18# May
12#
Mtge Bk of Bogota 7s. 1947
Issue of May 1927
55,000
25#
26#
12#
123#
Medellin 7s series E..1951
3,000
25
24#
Hanover (City) 7s
Maranhao 7s
6,000
60#
60#
1952
Mar
72
7124
External
German Cons Munlc 7s *47
105#
9924 100
"9924
2025
Feb
103
4*6*,000
10324 10424
10424
Mar
108
10324 10424
T6i"
1st & ref mtge 4s
1960
Sou Calif Gas Co 4#s.1961
Sou Indiana Ry 4s
72#
73#
9
Prov Banks 6s B...1951
Sept
July
110524 107
3#s_May 1 1900
Sou Counties Gas
71#
73#
Jan
17
20
Cent Bk of German State &
Sept
Sou Calif Edison Ltd—
JRef M
72#
73#
1948
106#
4,000
10324
9924 10024
9924
1948
Servel Inc 5s
2324
2924
1935
Southeast P & L 6s
20#
25
Buenos Aires (Province)—
108# June
19#
Jan
18#
33,000
20#
123#
1951
Jan
Danzig Port & Waterways
6s with warrants... 1935
ex warrants
120#
1946
1947
20-year 7s
20-year 7s
104
Schulte Real Estate—
6s
Agricultural Mtge Bk (Col)
Jan
27
14,000
2924 144,000
Sauda Falls 5s
FOREIGN GOVERNMENT
AND MUNICIPALITIES—
S'west Pub Serv 6s
Certificates of deposit.
Convertible 6s
1935
Certificates of deposit-
10524 10524
83,24
83 24
Debenture 6s
1951
83 24
Debenture 6sDec 1
1966
8324
83
Standard Investg 5#s.l939
10024
100
•
10024
6,000
97
Jan
Santiago 7s
7s.
Jan
Sept
Sept
Feb
*
the
No par value
rule
range,
a Deferred
not Included In
sales
x
delivery sales not
year's range,
t Friday's bid and asked price
e
r
nciuded *n yearv range,
n Under
Cash sales not Included in year's
Ex-dividend.
No sales were transacted during curren
Cash sales transacted during the current week
week.
and not Included In weekly or
yearly range:
No sales
y
Under-the-rule sales transacted during, the current week and not included In
weekly or yearly range:
No sales.
z
Deferred
delivery sales transacted during the curren
week and not
nciuded
weekly or yearly range:
No sales.
Abbreviations
Used
Above—"cod,"
"t-w," withou
warrants
of deposh; "cons, * consolidated,
"m," mortgage; "n-v," non-voting stock;
," when Issued "w w " with warrants
cert ficates
cum,*' cumulative: "conv," convertible
t c," voting trust certificates; "w
"v
financial
2342
Oct.
Chronicle
10, 1936
Other Stock Exchanges
Sales
Friday
Range Since Jan. 1 1936
Last
Stocks (Concluded)
Closing bid and asked quotations, Friday, Oct. 9
Week's Range
for
Sale
Exchange
New York Real Estate Securities
of Prices
Low
High
Week
Price
Par
5%
4%
73
27c
30c
21
39%
21%
27%
41%
35c
60c
Butte
8%
16""
City & Suburban Homes..
Lincoln Bldg Corp vtc—
4%
39 Bway Inc units
7
Pennsylvania KR
53
5%s...l950
21
Pacific Mills
33%
Oliver Cromwell ctfs
Pennsylvania Bldg ctfs
Old Colony RR
100
27
50
"42c"
Qulncy Min-Assess unpd 25
Assessment paid
.25
Orders Executed
on
15%
*
19%
18%
5%
19%
Torrlngton Co
*
Union Twist Drill Co
5
United Gas Corp
1
2d preferred
STEIN BROS. &> BOYCE
Established 1853
60S. Calvert St.
39 Broadway
NEW YORK
York. Pa.
BALTIMORE, MD.
LouUville, Ky.
Hagerstown, Md.
Members
York
New
Venezuela Holding Corp.
_
Jan
90%
Jan
21% June
i7
89
"~94c~
'""63%
"16%
9%
Jan
Mar
Mar
Feb
Aug
%
Jan
1%
200
30c
Apr
1
2%
Apr
345
5
302
18%
10%
Oct.
3
to
Oct.
9, both inclusive,
Range
Last
Stocks—
(Conn)..50
v
com
18%
45%
*
26%
2,101
5%
929
27%
22%
45%
5
Jan
7%
789
July
May
27%
27%
134
27
89%
90%
151
84
113%
70
Ill
113%
..100
preferred
113
1
Fidelity & Deposit
132%
Fidel & Guar Fire Corp. 10
45%
11
Jan
27%
17
Jan
41
219
88
Jan
*
Houston Oil pref
Mfrs Finance com v t
100
17%
18%
_______
18%
1
1%
1%
•/;
85
$4,000
70
Jan
85
89
90
7,000
70
Jan
90%
9
25
25
1
Mar Tex Oil
3
3%
Wi
72
1,045
Apr
50
50
Merch & Miners Trans p..*
38
38%
163
26%
27%.
336
Mercantile Trust Co
,
61
Aug
20%
Members.*
Chicago Stock Exchange
New York Curb (Associate)
Chicago Chrb Exchange
Feb
1%
Mar
11%
10 So. La Salle St.,
Jan
Jan
Apr
31
Jan
Mt Ver-Wdb Mills com. 100
2
3%
262
Jan
Oct
Apr
17%
Oct
Jan
101%
Oct
10
66
40
Aug
100
Preferred
6,196
Owlngs Mills Distillery.. 1
~~"i%
Penna Water & Pow com.*
95%
17%
101%
1%
1%
95%
95%
Seaboard Comm'l
11
11
11
26%
23%
27%
9,791
35%
35%
25
Northern
5
Central Ry
16%
A 10
com
U S Fidelity & Guar
14%
101
50
2
Western National Bank_20
23
1,250
115
10
Apr
9%
95
1%
July
2
Aug
Jan
98
July
Feb
12
Sept
87
8%
13%
Apr
34
Jan
27%
36%
Oct.
both inclusive, compiled from official sales lists
9,
Friday
Sales\
,
Oct
Apr
Par
Stocks—
Week's Range
for
Sale
of Prices
Low
High
Week
Price
52%
9%
Common (new)
51%
20
4s
Harbor^erial
4s water serial
3%s
A
1958
new sewerag
Bait
116
1957
imp. 1980
115
$600
116
300
118% 118%
„
.
«
-
.
„
115
115
Apr
118%
Oct
Apr
115
Oct
1975
43%
43%
44
41,500
2,500
99% 100
2,000
1,000
1975
100% 100%
Oct
115
37%
B 5s
Apr
116
111
36
Read Drug & Chem 5%s'45
115
Oct
600
37%
5s flat
Feb
116
700
flat..iy75
Transit 4s
115%
15%
Jan
37%
r
17
Jan
44
Oct
84
Jan
100
100
Apr
101%
ct
Apr
June
Oct.
3
to
Oct.
Last
Sale
Par
Stocks-
Price
of Prices
High
Low
65
30
20
300
11%
23%
23%
250
21
Jan
60
64
240
20
May
6
5,750
1,450
2,750
50
_100
Boston Elevated
3%
3%
175% 179%
145% 152
66%
68%
29%
30
152
100
Boston Herald Traveler..*
Low
High
Class A
Amer Pub Serv Co pref. 100
~~63~
5%
5%
Mfg Co com—1
3%
56%
Automatic Products com.5
9%
Backstay Welt Co com—*
......
16%
32%
11%^ 12%
29%
81
6%
Jan
16%
21%
7H
Jan
32%
Oct
Jan
14%
10%
July
31%
Sept
3
22%
Jan
Apr
July
July
Jan
83%
Mar
108% 108%
21%
21%
50
107%
Feb
111%
Mar
100
16%
Jan
23
Aug
26%
500
25
Oct
30%
Mar
90C
64
25%
25
Mar
Sept
July
34%
18%
Mar
Jan
14%
Oct
57%
53%
13%
57%
1,350
38%
Jan
57%
Oct
13%
120
17
Feb
.
29%
40
2,879
129
13
Sept
..
Common
1
1
JaD
Conv preferred
*
15%
14%
15%
1,100
12
July
Cent 111 Pub Serv pref...*
74%
69
74%
3,170
57
Jan
72%
Oct
2%
9,650
Apr
3%
Feb
_
2
July
149%
117%
Apr
180
Sept
Jan
152
Oct
70
Feb
Apr
270
65
May
447
29
Aug
31%
10%
Jan
8%
Feb
Sept
1
1
Common
2%
87
90
320
49
Jan
97
Sept
57
59
690
20% May
68
Sept
*
17%
14%
17%
660
8
Jan
*
59
58
59
60
35
Jan
59
64%
60
64%
290
40%
Jan
64%
Oct
5%
31,100
Apr
Apr
5%
Mar
14%
Feb
Chain Belt Co com
12%
Feb
Cherry Burrell Corp com.*
14
Oct
Chicago Corp common
Feb
14 %
13
14%
355
21
18
21
445
Boston Personal Prop Tr.*
15
14%
15
465
12%
May
130
2%
July
*
014
33*
3
14
3%
50
5
25
8%
Mar
5
June
15
8% June
21
Oct
16%
Jan
7
Jan
Preferred-
Central States Pr & Lt—
Preferred.
...
8%
11
8
8%
7%
8
7%
72%
*
51
48%
20
20
50
June
25
Jan
.6 ""53
Preferred..
51%
53
550
33%
Jan
55
Sept
100
2%
Aug
4%
Feb
34%
106%
Aug
Chicago Flex Shaft com.
Chic & No W Ry com..100
72
57
57
72%
59%
Common
100
Preferred
100
Adjustment
100
*
Economy Grocery Stores.*
Edison Elec Ilium
100
Employers Group
*
*
Georgian Inc(The)A pf__20
_.*
*
1%
46
*
"lb"
9%
2%
*
Chic Towel Co
pref.*
"I05%
Apr
Chic Yellow Cab Inc cap.*
31%
29%
*
4%
3%
4%
1,850
15,100
190
3%
Jap
11%
Mar
Club Aluminum Utensil..*
1%
1%
1%
250
110
60
Jan
85
Jan
Coleman Lp & Stove com.*
245
41%
Jan
83
Mar
CommonwealthEdlson.100
"115%
42%
^5
100
Mass Utilities
v
Mergentbaler
Linotype..*
o>tg»
52%
130
2343
I
80
10%
%
%
100
100
9%
9%
Consolidated Biscuit com.l
Apr
7%
Apr
2%
Mar
4%
Oct
1% May
3%
Jan
30
96%
41
3,250
10%
32
Oct
Sept
38
Feb
Jan
116
July
Sept
72%
Aug
Consumers Co—
Apr
Feb
Jan
2,100
%
Apr
62%
Feb
52
19%
3,950
10%
3%
Jan
3
365
18
529
1%
8%
16
155%
Jan
May
Jan
15
July
6% prior pref A
Mar
7%
169
20
Apr
27%
345
36% May
42%
10
101
Common
23%
953
Mar
Feb
Oct
1
Feb
1%
Jan
5%
Jan
11%
Aug
Feb
cumul pref
5%
2,600
10
340
Oct
11%
Aug
% June
Jan
5%
1%
Feb
12%
Feb
7%
'
30
2%
Jan
50
27%
July
90
5%
97%
Aug
3%
Feb
Continental Steel—
Common
*
Preferred
100
Cord Corp cap stock
33
33
—
+
Preferred
5
4%
25
42%
100
Crane Co common
133%
33
101
102
4%
43
5,950
24
Aug
Apr
133% 135
200
120
6
50
4%
39%
3,600
47
Apr
117%
Jan
8
Apr
43
Oct
Jan
138%
Sept
3%
10%
Jan
9
Mar
19%
Jan
18%
32%
Oct
150
10
21%
Jan
27
Oct
360
4%
Jan
1,225
13%
July
19%
56
55
26%
May
56
10
220
5%
Jan
11%
1% May
40c July
2%
Jan
1.75
Aug
De Mets Inc preference..*
24%
2%
Oct
Decker (Alf) & Cohn comlO
Apr
Dexter Co (The) com
5
17
110
Jan
18
Aug
Dixie-Vortex Co
*
19
18%
19
450
18%
July
21
June
*
39%
39
39%
300
38%
May
41% June
2%
75
24%
1%
100
360
12
*
New England Tel & Tel 100
30
30
106% 116
5
Jan
33
30
13
180
36%
13
100
32
42%
10%
170
250
24%
1%
105%
41
467
1
Internatl Button Hole M 10
Jan
Jan
Apr
9%
2
5%
12
12
13%
17%
17%
162% *162
1643%
22
23
22%
42
42%
1%
1%
10%
10%
10%
16
14%
16%
52
25
100
14%
Jan
105
18
50
Jan
conv
43%
150
32
31
5%
6%
47
5%
Hatbaway Bakeries pref--*
2,950
3%
3%
Compressed Ind Gases cap*
100
100
51
280
Eastern Mass St Ry—
Oct
4%
Chicago Electric Mfg A__*
Cities Service Co com
*
Feb
5
1,621
East Gas & Fuel Assn—
4
22%
*
Chicago Rlv & Mach cap.*
1044
25
...25
1%
Jan
58%
Apr
12%
11%
prefstpd.100
pref
100
Class B 1st pref
100
Class C 1st pref stpd.100
Class D 1st pref stpd. 100
Class A 1st
Feb
88
July
13%
37%
14
11%
2%
2%
18
*
4%
34%
1%
*
preferred
950
Class A 1st
37
550
Central S W—
5%
Feb
Jan
7%
41
<ee
18
11%
July
For footnote*
Feb
14
18%
17%
t c
Feb
500
1,154
com
11
2,450
44,350
100
5% cum pref
Oct
Feb
14%
Prior preferred
Maine Central
2,500
82
Jan
7%
19%
3%
Isle Royal Copper Co
29%
Jan
59
16%
Prior lien
Class B
29
5%
Jan
19
Jan
Class A
220
7%
27%
13%
Apr
Helvetia OilCotc
8%
4% June
2% July
Oct
Feb
Sept
15%
5%
Gillette Safety Razor
8
■
25%
69
19%
50
General Capital Corp
Oct
13%
95
Gilcbrlst Co
20
16%
7
Eastern SS Lines com
65
*
8%
6% cum pref
Jan
June
*
10
Class B.._.
Butler Brothers
7
4%% prior pref
5,400
7,300
8,000
80
8%
*
Class A
8%
Common
70
14%
100
10
Range
2,300
15
15
30%
Borg Warner Corp com.10
100
Copper
9%'
9
12
*
Berghoff Brewing Co.-.-l
Binks Mfg Co A conv pref *
Bliss & Laugblin Inc cap.5
Common
Calumet & Hecla
59
31%
Bastlan-Blesslng Co com.*
Bendlx Aviation com
Preferred stamped
com
3%
3%
58%
Castle & Co (A M) com .
Boston & Maine—
Brown-Durrell Co
Aug
Sept
Sept
,
9%
Central 111 Sec—
100
Boston & Albany
57%
21
Jan
Week
Shares
Amer Pneumatic Service—
6% non-cum pref..
Amer Tel & Tel
46
Oct
June
19%
10
25
Common
Bruce Co (E L) com
Range Since Jan. 1 1936
for
53%
10
Central Gold Storage com20
Sales
Week's Range
15
1
Brown Fence & Wire—
both inclusive, compiled from official sales lists
Friday
2,800
Allied Products Corp—
Brach & Sons (E J) com..*
Boston Stock Exchange
9,
High
60
Ainsworth Mfg Corp comlO
7% preferred
■'
50%
700
9%
9%
Associates Invest Co com.*
115
800
53%
19%
*
com—*
Advance Alum Castings..5
Adams (J D) Mfg
Asbestos
1951
Low
Shares
Abbott Laboratories—
Armour & Co common—5
Bonds—
4s Annex Impt
Range Since Jan. 1 1936
Last
Jan
3%
Mt Ver-Wood MillsNew Amsterdam Cas
to
Oct
71
3
71
3
Aug
38%
CHICAGO
Chicago Stock Exchange
Oct.
July
28
3
27%
23% Feb
1% June
70
MononW Penn P S 7%pf25
Aug
Ynul R Davis & €o.
New York Stock Exchange
July
Mar
12
Feb
248
2
258
258
Oct
-
Jan
7% May
% May
1% Feb
10
114
.
Jan
Li$ted and Unlisted
Mfrs Finance—
1st preferred
2d preferred
Apr
SECURITIES
CHICAGO
Oct
132%
14%
%
3,521
9
84
90
Sept
Sept
9% June
15
1
8%
,.*
84
1948
Feb
50
8
11%
Guilford Realty pref.
39%
199
58
1948
Jan
Feb
116
322
11%
Series A 4 %s
2,008
Bonds—
Aug
835
58
Mar
Feb
36
40
122% 132%
45%
44%
21
Oct
94%
25
*
Finance Co of Am cl A
July
30
39
""39%
20
Preferred
Jan
.
24%
Eastern Sugar Assoc com.l
195
Feb
2%
19%
25
5%
28
Feb
Consol Gas E L & Power. *
Preferred
23%
9%
Jan
Apr
16%
513
5%
26%
5%
28
High
26% July
% June
141
2%
2
*
1st pref v t c_
Black & Decker com
Low
Shares
17%
------
t o._*
*
Series B 5s
Range Since Jan. 1 1936
for
Week
44%
17%
*
Atl Coast Line
Bait Transit
of Prices
Low
High
Price
Par
Arundel Corp
Week's
Sale
*
Sept
Eastern Mass St Ry—
Sales
Friday
*
Warren (S D) Co
compiled from official sales lists
Oct
May
18%
10%
29%
Jan
9%
4%
Feb
6%
Warren Bros Co
Exchange
Aug
135
Jan
124
Waldorf System Inc
Baltimore Stock
Feb
90%
42
37%
132
132
Vermont & Mass Ry Co 100
Oct
Mar
28%
3,350
%
6%
%
3%
July
Sept
53%
Jan
83
Oct
Sept
July
104
89
1
92c
4
50
2,302
39%
39
*
Venezuela Mexican Oil..10
Exchange, Inc.
Chicago Board of Trade and Commodity
1
25
40
90
6%
"96"
25
Preferred
Utah Metal & Tunnel
Stock Exchangee
Baltimore
and
.
United Shoe Mach Corp.25
15%
21%
8%
Jan
793
27
36
Feb
265
53%
99% 100%
100
Jan
14%
1%
175
6
51
*
11
Oct
Feb
Aug
Sept
3
Jan
1%
873
6
*
23
105
200
1,185
com
Jan
1%
2%
Sub Elec Sec Co
Oct
470
14%
2%
Mar
70%
27%
41%
1%
2%
Oct
14
Jan
Aug
35c
14k
Jan
Feb
5%
58c
28%
Stone & Webster
Baltimore Stock Exchange
19
75
*
2%
Apr
May
14% May
Apr
213
23
23
2%
1,421
4,369
Shawmut Assn tr ctfs
Reece Folding Mach Co. 10
High
87
May
26c
1,414
2
1%
Reece Buttonhole Mach.10
146
4%
3%
*
30%
32
Dorset ctfs of deposit
61 Bway Bldg
Ask
73
143
80
New River Co pref
100
N Y N H & H RR (The) 100
North
Bid
Unlisted Stocks
As k
Bid
Unlisted Bonds
Low
Shares
38
233
3
3%
50
52%
29% 130%
2,931
350
364
16%
%
7%
18%
1%
38%
117%
Jan
Jan
Oct
Curtis Lighting Inc com..*
Sept
Dayton Rubber Mfg com.*
Jan
18
Mar
Jan
45
Mar
Jan
Jan
Mar
3%
52%
132
Cum class A pref
Class iA
com
6
18%
Feb
18%
32%
27
27
7%
"
16%
-
17%
13%
1,450
8%
28%
13
14
9%
Jan
9%
Oct
Mar
450
18
27
Eddy Paper Corp (The)..*
Elec Household Util eap_5
31%
~
Econ Cunnghm Drug com *
Oct
~
17%
32
35
Sept
6
.
16%
Jan
20
Mar
250
23
Apr
30
Jan
2,250
13
June
18%
Jan
Volume
Financial
143
Sales
Friday
Range Since Jan. 1 1936
Last
Week's Range
for
Sale
of Prices
Low
High
Shares
Price
Par
Stocks (Concluded)
Elgin Nat Watch Co.—15
Fltz Sim & Con D&D com *
40%
Gardner-Denver Co com.*
51%
64%
18
S3 cumul conv pref
20
General Candy Corp A...5
High
1,250
27%
Jan
150
16%
Jan
43 %
23
220
39
Jan
60
64%
sa
64
Sept
Active
Oct
64%
18
Oct
Sept
14%
Aug
200
11%
Jan
7%
Aug
5,250
5,600
22%
Jan
44
8%
Oct
22 %
Jan
Jan
31
46
Sept
30%
5,800
1,900
26
July
33%
Apr
11%
800
6
Jan
11%
Aug
17
12
570
9%
Jan
17
Apr
4,550
8%
JaD
13%
Apr
29
Jan
16%
17
12%
12
13%
Class A
*
*
41
37%
44
29%
23
31
42%
29%
42
43
29%
11
10%
Class B
Great Lakes D & D com—*
com—10
Hamlschfeger Corp com .10
Hall Printing Co
15%
10%
"II%
Helleman Brew Co G cap.l
BALLINCjER
UNION
Phone Cherry 6711—First Boston Wire—Bell Sys.
Oct
25%
26%
25
July
16%
16%
150
11
Apr
17
19
*
A*
Houdallle-Hershey clB—*
Hormel & Co (Geo) com
19%
31%
11%
150
16% May
22
2,100
22% May
32%
3
Oct.
to
9, both inclusive, compiled from
12%
109%
Jan
30
25
11
11
pref. 100
106
Co
111 North Utilities
Indep Pneum Tool v t o.
Interstate Pow $6 pref..
Iron Fireman Mfg v t
105% 106
64
65%
*
8
30
100
Feb
60
July
30
14
20
27%
21%
22%
6,350
42
1
*
22%
May
110
27
27%
Jefferson Elec Co com
350
18%
o—*
Jarvls (W B) Co cap
43%
350
250
Jan
Par
Stocks-
Jan
Amer Laundry Mach
20
68
7
25%
3%
25%
Amer Prod prior pref
Part preferred
3%
100
3
June
*
10
10
25
6
June
50
*
100
100
4
4
25
35
35
30
22
24%
1,449
104% 104%
13%
13%
24
Mar
24%
Burger Brewing pref
Feb
Mar
Carthage Mills B
31% June
44
Aug
Champion Coated
70
Mar
Churngold
42%
Sept
Oct
Cincinnati Ball Crank pref*
Oct
Cincinnati G & E pref..100
Oct
Cincinnati Street Ry A-.50
44%
47
1,270
39
Sept
42
41%
42
300
32
Feb
50
Ky Utll Jr cum pref
Kingsbury Brew cap
1
Lawbeck Corp 6% pref. 100
12%
preferred..*
17%
2%
30
2%
•
30
6%
28%
18%
5,800
Apr
18%
LindsayLt & Chem com. 10
Jan
100%
5%
Jan
4%
108%
414
Jan
9
Sept
90%
90%
206
85
Jan
94
Sept
Cin Union Stock Yard—.*
23
23%
July
95
"4%
Aug
Mar
40
20
Mar
25
May
Coa-Cola A
*
97%
20
44
Jan
100
July
7
Feb
Crystal Tissue
*
6%
6%
16
6
June
7
Sept
Jan
Dow Drug
*
8%
8%
15
7
June
274
8
Jan
15
Mar
Jan
35
Sept
7
2,780
150
21
Jan
Apr
8%
1,250
7
May
35%
11%
Jan
40%
14%
35
3
*
20
21
130
18
July
25
Jan
17
17
38
9
Jan
17
Sept
31%
31%
100
28
Jan
33% June
Jan
13%
July
Formica Insulation
July
10
Feb
6%
10%
15%
Sept
4%
6%
6%
50
7
35%
7%
250
37%
45%
40%
58%
40%
17%
2%
18%
46
46
7%
6%
7%
Jan
Oct
Jan
Feb
Julian & Kokenge
Aug
1st preferred
530
33
Apr
1,950
27
Jan
40%
70
50
June
1
July
3%
Jan
Jan
19%
Sept
710
6,150
100
5,850
Jan
11%
1
3%
3%
3%
Middle West Corp cap.-.5
Stock purchase warrants
11%
11%
12%
5%
5%
6%
1,050
28,250
4,650
*
62
5%
2%
7
3%
*
%
%
9
11%
9
8
Oct
8
Jan
Meteor
*~8%
Sept
7%
Feb
1
Mar
%
15%
Sept
460
1
Mar
12
Sept
"5"
7%
Modlne Mfg com
6%
8%
740
1%
4%
6%
360
%
4%
6%
Jan
10%
6%
Jan
Feb
Oct
Sept
*
7
*
25%
SprlngfMed com
Apr
30
40
Mar
50
Aug
30
25
23
Jan
12
162
11
Sept
15
93
Jan
.
225
7
30
Oct
14
July
105% June
Jan
4
110
2
Jan
27%
4%
Feb
17
125
7
Feb
17
Oct
17%
17%
5
6
Jan
17%
Oct
3%
16"
20%
3%
14%
3%
*
Coney A__
3%
80
46%
46%
47
*
24%
24%
24%
*
7%
U S
Playing Card--——10
7
28%
3%
28%
*
US Printing.
50
Preferred-
'17V
17
90%
100
Wurlitzer7% pref
19% June
5% Mar
July
3%
82
*
Procter & Gamble
Randall A
130
6
4,390
%
3%
Jan
9%
40% June
Jan
48%
110
16
Jan
26
Sept
8
712
Jan
9
Jan
33
679
4%
26%
Sept
35%
Mar
4%
18%
914
3%
Sept
8%
Feb
150
13%
Sept
28%
Feb
90%
20
20%
Mar
95
Oct
Jan
38%
Jan
Jan
11%
100
55
Feb
6%
July
Jan
10%
26%
Jan
Aug
Jar
25
Oct
Apr
33
May
Jai
65
Feb
Jai
Jul}
18
Oct
130
26
150
17
38%
1%
Sept
Uouroe Chemical Co-
Muskegon Motor Spec A.*
17%
48
Oct
5%
46
7
43%
Sept
4% June
13
10,900
8,950
%
Oct
10
20%
2.50
Magnavox
B
10%
5
71
104% 104%
100
Kroger
46
Midland United CoCommon
25
11
"II"
5
15
48
48
...
Kahncom
Apr
Jan
Apr
Jan
5
15
Manischewitz
July
17%
30
Hobart A
Oct
46
31%
12
100
Part preferred
Feb
Feb
Oct
Oct
8%
54%
45%
34
Gibson Art
Hatfield prior pref
Moores
Midland Utll 7% prlienlOO
14%
Fyr-Fyter A
4%
Jan
Apr
60
4
2,500
Mlckelberry's Food Prod-
Common
Feb
14
35
130
1%
18%
46
pref..*
11%
*
20
750
57%
Manhatt-Dearborn com..*
conv
50
Eagle-Plcher Lead
12%
37%
6%
McQuay-Norrls Mfg com.*
6% prior lien
100
7% preferred A
10G
6% preferred A..... 100
Oct
33
Feb
48%
44%
*
3%
43%
3%
34%
11%
5
Miller & Hart
1%
8%
3%
Jan
50
Conv preferred A
Feb
25
229
8%
8%
Feb
650
Common
Jan
Feb
1%
10%
com new.
17%
28%
3%
14%
Mer & Mfrs Sec cl A coro.l
Feb
May
80
10%
Marshall Field common..*
25
105
12%
450
13%
Electric com...5
Aug
19%
102
13,500
10%
*
Apr
Feb
May
3%
13%
Loudon Packing com
Jan
6%
35
Mar
30
75
Feb
43%
10
Lynch Corp com....
McCord Rad & Mfg A..
11
Cincinnati Telephone
Lion Oil Refining Co com.*
Preferred
3%
Mar
4%
108% 108%
48%
$3% preferred
Corp
13%
134
July
10
Jan
Mar
27
Early & Daniel
12
Common
Masonlte
Apr
75
28%
25
8%
Libby McNeil & Libby._10
Lincoln Printing Co—
McGraw
4%
40
750
22%
104
*
Jan
13%
30%
42%
43%
13%
134
133
7
Leath & Co com
Cumulative
13
"17%
Sept
9%
19%
9%
24
46%
30
9%
31
1
Kellogg Switchboard comlO
Preferred (new)
.100
Ken-Rad T & Lamp com A*
com
High
Low
Shares
*
Feb
18%
Week
of Prices
High
Low
Price
Aluminum Industries
May
24
Kalamazoo Stove com...*
Co
Range Since Jan. 1 1936
for
Feb
68
Sept
Sale
Sept
•
1st preferred
Katz Drug
official sales lists
Sales
Week's Range
Last
Mar
30%
150
Tel. Cin. 291
Cincinnati Stock Exchange
Oct.
Friday
25%
warrants..
Horders Inc com
& CO.
CINCINNATI
BLDG.
TRUST
25
Heller (WE) pref
Exchange
Trading Markets In
Cincinnati and Ohio Listed and Unlisted Securities
Apr
July
12,950
17
Illinois Brick
Low
54%
*
Goldblatt Bros Inc com.-*
Cincinnati Stock
>
Utll—
(new)
Godcbaux Sugars Inc—
With
Members
Week
43%
18%
Common
Gen Household
2343
Chronicle
23%
23%
25
1,350
11
National Battery Co pref.*
Natl Gypsum cl A com.
30
30
30
60
28
47
47
49%
25C
National Leather
1%
17%
1%
16%
1%
1,500
18
480
7%
8
100
•5%
Jar
10
250
32 %
Jan
49
Members Cleveland Stock Exchange
Feb
47
Ohio Listed and Unlisted Securities
Sept
Nachman
10
com
Natl Pressure Cooker Co.2
Nat Rep Inv Tr conv pfd. *
National Standard com.
.
"47"
1%
1%
300
"36"
35%
36%
1,700
5%
5%
6%
9%
350
3,450
27%
400
240
National Union Radio coml
Noblltt-Sparks Ind
com.
North Amer Car com
*
Northwest Bancorpcom..*
Northwest Eng Co com.
Northwest Utll—
9%
9%
%
100
7% prior Hen pref
1%
Jan
Jan
14
Jan
49
Apr
76% Sept
23% Apr
40
47
65
68
-90
25
20
20
100
12
Feb
Cleveland Stock
Sept
Oct.
3
to
Oct.
9, both inclusive,
Exchange
Sales
Friday
12%
14
500
9
Jan
14
Oct
Last
Week's Range
26
26
26
250
19
Apr
27%
Jan
Sale
of Prices
2-:
17%
630
Jan
3%
Feb
50
17
Mar
22%
Apr
54%
39%
10
54%
54%
Oct
250
Oct
Apr
4%
4%
2,100
2%
Mar
3%
3%
200
1%
450
2%
1%
Jan
1%
10
com
4%
4%
650
1% May
1%
Peabody Coal Co B com..*
Penn G & E A
*
17%
100
54%
com
Peoples GLt&Coke
cap
39%
Perfect Circle (The) Co.
Pines Wlnterfront com
5
Potter Co (The) com
Prima Co com
*
4%
*
Process Corp com
....
4%
39-
1%
32
41
Jan
5%
5%
6
Sept
Sept
Apr
Mar
4%
Oct
Public Service of Nor Ill-
85
Common
Common
60
70%
85
82%
70
82%
1,800
49%
85
49
May
Oct
82V
Apr
350
Oct
100
117
116
117
300
103
Jan
120
VAug
100
6% preferred..
7% preferred
Quaker Oats Co—
119%
119% 120
280
112%
Jan
123
Mar
124
122
Common
Preferred
100
Rath Packing Co com
148
145
10
26
26%
200
115
June
30
142
Jan
200
22
140
May
150
26%
Jan
July
Sept
Raytheon Mfg—
600
2%
Jan
7% June
650
1%
Jan
3%
Reliance Mfg Co com...10
3%
1%
24%
23%
4%
1%
25
Rollins Hos
11
10
11
22%
21%
10%
23%
12%
2,750
12%
104% 104%
30
4%
400
v t c
50c
6% preferred vtc
5
pref
*
Schwitzer-Cummlns cap-.l
Slgnode Steel Strap com..*
conv
Sou'west G & E 7% pref 100
Standard Dredge—
Common
4%
15%
Storkline Fur
conv
4%
15
..25
Sundstrand Mach TooICo*
Thompson (J R) com...25
Utah Radio Products com.
Utll & Ind Corp
15%
16
18
18%
2%
July
520
450
100
99
Feb
Mar
Sept
106
7
Apr
Feb
18%
10%
Apr
Jan
35%
Jan
100
28%
22
21%
21%
10%
3%
22%
2,650
20%
24%
6,700
1,400
2,800
18
4%
Jan
Sept
18%
800
11%
Oct
17%
23%
14%
/
3% Mar
12% June
7%
24%
11%
25
Feb
"
Apr
30%
Apr
Jan
Apr
25
Aug
24%
Oct
8%
Jan
12%
Feb
2%
Mar
4%
Sept
2
Jan
5%
Jan
Feb
1
650
4%
400
19%
5%
19%
80
2,300
36
36%
750
144% 144%
19
19%
15%
14%
250
16
3,100
1,000
5,900
10
Mar
Jan
8%
Jan
11
Jan
40%
Oct
$2,000
76
Oct
76
Oct
%
*
19%
♦
5%
Walgreen Co common....*
Ward
W Uliam8-0il-O-M at lc com*
Sept
7%
3%
(Mont) & Co cl A..*
Wieboldt Stores Inc com.
May
10
30%
4
com
11
550
30%
Convertible pref
Wahl Co com
3,050
16% Sept
0% June
pref.25
Swift International
Swift & Co
Viking Pump Co
3%
1%
18
Convertible preferred..
Stein & Co (A) com
19
Wisconsin Bankshares com*
14%
6%
Zenith Radio Corp. com..*
38%
6
6%
6%
38%
40%
76
76
50
% May
2% May
24
4
Jan
Apr
6%
Jan
30
Apr
36%
Oct
Jan
156%
July
Apr
22%
15%
142
5%
16
Jan
July
Bonds—
Calumet & SChic 5s ctfs'27
For footnotes
see
ua*«-
565 A 566
compiled from official sales lists
14
Common
Parker Pen Co
Common
A. T. <& T. GLEV
Telephone GHerry 5050
30% Sept
41
7%
Union Trust Building, Cleveland
July
7% June
JaL
26
100
*
GILLS S|5* jpWOODcb
Feb
37%
7% June
15%
Jan
2%
Jan
Apr
3%
26
26
7% preferred
Ontario Mfg Co com
Oshkosh Overall Co—
45
13
2343.
Par
Stocks—
Low
Price
High
Range Since Jan. 1 1936
for
—wKCoiv—
Shares
Sept
13%
18%
Apr
28%
11%
Mar
38%
100
71
Sept
80
260
23%
Oct
15%
54
12%
12%
12%
236
12
Allen Industries Inc
1
28%
300
*
28%
38%
28
Apex Electric Mfg
Clark Controller
37
38%
746
74
75
24%
"23%
New
City Ice & Fuel
23%
17%
84%
17%
Cleve-Cliffs Iron pref
87%
*
*
Cleve Elec 111 $4.50 pref..*
Cleveland Ry
100
Ctfs of deposit
110
~6§"~
63
Faultless Rubber.
*
.
Federal Knitting MHls—_*
*
*
51
45
May
70
30
25
25
July
35%
48%
14%
50
41
Feb
55
Jan
83
10
Jan
16
Aug
102
10
100
June
105
Jan
Jan
23
Sept
July
29%
Oct
Feb
18%
Sept
228
10
26%
26%
285
19% June
5%
1,502
5
4%
150
17
3%
8
Mar
June
34%
32%
34%
521
20% May
28
24
28
653
15
4%
9%
7%
25
105
100
5%
Oct
5% May
17
34%
Oct
Oct
Mar
28
Oct
4% May
7
Feb
9%
100
9%
Oct
15
12
16%
Mar
25
Aug
29%
18%
897
18%
Apr
32
Sept
100
14%
Feb
18%
7%
28
18%
Jan
4%
29
1
26%
Jan
274
*
Preferred
6%
23
21
National Refining
17
26
21
Nat ional Acme
July
65
21
Mfg
73
25
Monarch Machine Tool...*
Ohio
Jan
85
6,335
17%
22%
Metropolitan Pavg Brick.*
Miller Wholesale Drug...*
Murray
59%
Oct
July
30
17
Medusa Portland Cement *
75
22%
Leland Electric
McKee (AG) classB
Jan
66
102
A) $5 cum pref*
*
Mar
61%
30
*
Lamson & Sessions
Sept
107%
48%
14%
Electric Controller & Mfg
*
Kelley Isld Lim & Tras...*
Feb
87%
112%
17%
17%
Jaeger Machine
19%
Jan
63
"30~~
Hanna (M
Oct
Jan
25
68%
Oct
24%
113
110
Oct
Sept
66
*
Foote-Burt
183
1,285
Sept
27%
100
Commercial Bookbinding *
Cliffs Corp v t c
17%
87%
67
High
Low
Airway Elec Appll pref. 100
Mar
Oct
125
5
Jan
9
July
105
50
55
Jan
112
Sept
6
420
4%
July
12
Jan
National Tile
*
Ohio Brass B
*
38%
36
38%
249
Apr
38%
Oct
16%
18
145
9%
Jan
18%
Sept
Patterson-Sargent
*
*
18
25
25
26
35
17%
July
Richman
*
57%
56%
58%
572
54
15
13
15
267
Packer Corp
Selb'ling Rub 8% cm pf 100
SM A
*
*
WestResInv 6% pr
*
Jan
Aug
68
Feb
Jan
25
Feb
17
45
19%
Feb
31
31
30
30% June
35
Apr
100
11
83
Jan
100
415
9
May
15%
Sept
10
70
Jan
86%
Oct
17
"3l"
7% pref. 100
Vlchek Tool
8%
27
100
1
Corp
Stouffer class A
Truscon Steel
27
"15%
15
86%
preflOO
15%
86%
1
14
May
Oct
60% stock dividend paid Aug. 15, 1936,
rCash sale—Not included In range for year,
x Ex-divldend.
y Ex-rights.
t Listed,
t In default.
t Company In bankruptcy, receivership or reorganization.
No
par
value,
c
Cash sale,
e
Financial
2344
Oct.
Chronicle
Sales
Friday
Last
Stocks (Concluded)
Detroit Stock
3
to
Oct.
50c
City Brew
1
com
Burroughs Add Mach
*
Burry Biscuit
12% c
Consolidated Paper com. 10
Continental Motors
Crowley, Milner
com.
23
126
12c
12c
July
31c
500
25c
Jan
65c
1,200
50c
Jan
85c
10
29%c
27c 29%c
3,000
18%c
Jan
29 %o
Oct
10%
10%
100
10%
Jan
11%
Mar
Feb
31%
18% Mar
48% May
Jan
105%
Jan
5%
Oct
7%
12% June
Jan
2%
40%
28%
58%
July
Aug
July
Pacific Lighting Corp
Preferred
*
*
*
com
Detroit-Cripple Creek
Detroit Edison
2%
9%
2%
%
"'"%
1
147
100
com
Detroit-Mich Stove
7%
9%
com.
Detroit Paper Prod com.. 1
Detroit Steel Prod com... *
7%
9%
37%
1
Dolphin Paint b
Detroit Steel Corp com... 5
Eaton Mfgcom.
Eureka Vacuum com
Gemmer Mfg a
4
~3§"
*
b
2%
com
Original pref..
25
6% prferred._
25
5 % % preferred.
25
So Calif Gas a 6% pref..25
So Counties Gas 6% pf 100
2%
Jan
700
%
Aug
4
Apr
Jan
152%
7%
10%
41%
Feb
100
111
128
Jan
2%
7%
2,463
3,365
Aug
23
605
Mar
Hudson Motor Car com..*
60%
200
44%
31
217
23
May
19
2,259
1,093
14
Apr
27%
100
6
6
"i%
4%
4%
120
15,c
1s16
'516
300
5%
15%
Murray Corp
com
10
20%
4%
12%
21%
4%
42
42
"is"
3
July
Jan
6%
41% May
23% June
10% Sept
522
28
28
414
U%
10%
5%
4%
5%
11%
5%
4%
6%
930
28
28
211
25
21
21
190
17
Stearns (Fred'k) com
Standard Tube b com
*
Timken-Det Axle com
Tivoli Brewing com
10
United Shirt Dist
"5%
1
*
com
Universal Cooler a
*
b
*
10
575
10
2,475
7,378
120
2
9,257
1,645
7%
"i%
12'%
12%
*
com
5,000
1,321
5,009
8%
5%
1%
1
com
5%
24
26
26
.....
Wayne Screw Prod com. .4
Wolverine Brew com
1
Wolverine Tube
5
5
Universal Products com..*
Warner Aircraft
4%
22%
7%
9%
9%
1
926
1,305
2,590
"16
500
12%
2,300
1
6%
6%
6%
23c
2
42
325
Feb
28%
18%
8%
7%
Apr
Mar
Mar
July
July
7
Jan
Jan
30
July
Jan
24
Feb
Feb
Oct
3%
12%
5%
7%
6%
2%
23%
July
31
Jan
3
24%
24%
33
30
35
31%
31
31%
38
38
38
28%
27%
28%
28%
700
27%
27%
27%
31%
100
26
100
31%
July
20
106%
Feb
10
Jan
46%
Aug
Oct
Feb
3
to
Oct.
Jan
24
Oct
Jan
11%
12%
Last
Sale
Par
Stocks-
Price
Jan
Week's Range
of Prices
High
Jan
Jan
Bandini
1
Petroleum
Barker Bros Corp
*
2
Berkey & Gay
Warrants..
*
Bolsa-Chica Oil a...... 10
b
..10
Broadway Dept St pref 100
Buckeye Union Oil pref..
_
Pref
v
2%
3%
22%
1
to.
Central Investment
72% c
8%
2%
103%
2%
2%
3
5%
Sept
%
12%
July
Oct
3%
22%
6,500
2
1%
c 72%c
7%
8%
2%
2%
103% 103%
1,700
22
72%
15c
15c
15c
14c
14c
14c
200
400
1,400
600
38%
1,200
37%
21%
13%
22
22
14%
15%
19,300
3,500
34
33%
34
15%
20
20%
29
29
29
300
Claude Neon Elec Prod.
10%
10%
500
14
900
Consolidated Oil Corp
Consolidated Steel com
Creameries of Amer
v
_
*
*
t c...
3%
5%
13%
3%
5%
3%
600
6
1,300
75
75
75
100
5
19%
19%
19%
100
1
60c
50c
606
8,700
Douglas Aircraft Inc
Emsco Derr & Equip
Exeter Oil Co a
14
.10%
66
Farmers & Mer Nat Bk. 100
General Metals Corp
435
435
435
20
Tom Reed Gold
100
Anaconda Copper Ming.50
Bendix Aviation Corp
Cities Service Co
Commercial
.5
Solvents
Commonwealth & South
Curtiss-Wright Corp
1
Jan
10%
Feb
55%
57
44%
July
56%
Aug
43c
22c
Jan
63c
Feb
95c
Oct
1.95
Aug
lc
Jan
31c
July
8
55
43c
36c
176%
40%
31%
4%
16%
40%
30%
4
430
54%
700
11%
400
Goodyear Tire & Rubber. *
27
27
27
100
23%
22%
23%
KInner Airpl & Motor
Lincoln Petroleum
29
1
29
1
9c
1
42c
41c
46c
45c
65c
1
Los Ang g & e 6% pref 100
Los Ang Industries Inc.-.2
Los Ang Investment
Magnin & Co (i)
nee
10
*
oaa*
55c
8%
107
4%
5%
23%
2343
8%
8%
106% 107
4%
5%
23%
8
Jan
Jan
July
3,500
46c
Jan
26
8c
147
1,900
5%
23%
100
200
Jan
26%
July
Jan
Oct
Apr
32%
7%
Oct
Feb
20%
4%
Apr
Oct
July
Oct
July
160
2 %
600
13%
24
200
20% June
24%
300
37
May
13%
200
12%
Sept
48%
15%
Kennecott Copper
Montgomery Ward <fc Co..
52
52
300
37
May
52
51%
51%
51%
200
New York Central
48
48
48
100
36%
Jan
33% May
48
Oct
Apr
rjr
No Amer Aviation Inc...l
51%
300
12%
13%
10%
10%
7%
Radio-Keith-Orpheum
7%
13
Packard Motor Car.
Radio Corp of America
7%
7%
7%
Texas Corp
Tide Water Assd Oil...
Apr
10
1,900
7
Jan
13%
Oct
11%
1,900
9% May
14%
Jan
7%
300
United Corp (Del)
u s Steel Corp
Oct
Apr
16
16
300
15
40%
40%
40%
100
38
Sept
19
19%
200
14%
Jan
May
16%
40%
19%
8%
58% May
9%
Apr
76%
14%
8
8
7%
1,000
5%
7%
19
25
Oct
7%
16
Standard Brands Inc
Oct
51 %
July
Aug
74
76%
13%
76%
13%
6
Oct
Oct
July
Oct
Feb
14
37c
Established 1874
3
to
Oct.
NEW
Sales
for
of Prices
Low
High
Week
Par
__*
_...
Price
25%
178%
100
Bankers Securities pref. .50
Bell Tel Co of Pa pref.. 100
122 %
*
12%
*
10%
Rights 2d paid.
Chrysler Corp
....5
*
com
Jan
Oct
General Motors
22%
2%
90c
10
Aug
GlmbelBros
Aug
Horn & Hardart (Phil)com*
Horn & Hardart (ny)com*
July
28
Jan
Apr
Apr
Jan
32%
16% Feb
15% May
Apr
5%
Oct
6%
79
July
20%
c
Apr
July
Jan
.23% June
72% July
Oct
20%
13% Feb
30% Feb
24% Sept
1.50
31
10
Apr
Mar
__*
com
Lehigh Coal & Navigation*
Lehigh Valleys
50
Mitten Bank Sec Corp. .25
Preferred
..25
Natl Power & Light
...
Pennroad Corp vtc
Pennsylvania
rr
Penna Salt Mfg
*
*
__50
50
Phila Elec of Pa $5 pref..*
Phila Elee Power pref
25
Phila Rapid Transit
50
50
7% preferred
Philadelphia Traction
50
130
37%
11%
19%
2%
3%
12%
10
Salt Dome Oil Corp
1
"40%
146%
113%
34%
5%
10%
Union Traction.
"22%
_*
50
%
5%
United Corp com
Preferred
*
Aug
*
46%
16C
Feb
United Gas Impt com
*
16
July
95c
Feb
Preferred..
*
Oct
67% c Sept
Westmoreland Inc
*
June
Jan
11%
Jan
116%
4% iSept
Westmoreland Coal.
*
39%
145%
113
34%
5
9
2%
'12%
Sun Oil Co
Tonopah-Belmont Devel.l
Tonopah Mining
1
19%
2%
2%
11%
5
Reo Motor Car Co
Scott Paper.
25% 26%
175% 179%
3%
4
33% 36
122
123%
11%
12%
%
%
10
10%
125% 127%
20% 22%
45% 47%
25
26%
70% 71%
19% 20
38
Phila & Rd Coal & Iron..*
35c
8
11%
5%
18%
61%
77%
%
4%
7%
46%
„15%
110%
13%
8%
130
38
11%
20%
2%
3%
12%
5%
41%
146%
114%
35
5%
10%
2%
13
5%
22%
61%
78%
H
%
5%
8%
46%
16%
111%
14
9
Range Since Jan. 1 1936
Shares
1,231
979
67
619
Low
24%
149%
2%
21%
High
Sept
36
Jan
Apr
July
180
Sept
Jan
296
Jan
1,042
Jan
18
525
855
%
8%
Oct
Apr
6%
36
Feb
Oct
127% Aug
15% May
1% Aug
14% Mar
124% July
86
Jan
375
17
June
24%
Apr
885
42%
July
170
21%
July
55%
34%
72%
18%
Mar
July
2,146
8"5
20
50
54
6%
118%
30
Jan
Jan
Apr
Apr
2,125
6%
Jan
300
85%
JaD
175
1,109
1,319
8,458
8,355
149
296
972
180
335
Jan
Jan
9%
8
14%
5%
41%
Sept
Jan
July
Jan
Oct
Mar
Mar
Feb
Feb
Apr
ill*
Feb
148
Oct
Sept
Apr
117
May
33%
2%
8%
Jan
Jan
Jan
July
10
Jan
20
4,985
Jan
38%
11%
20%
8%
sx
75
1,452
Feb
131
Jan
July
m
May
35% Sept
12% Mar
28% May
3%
Jan
19% May
7% Apr
30% Apr
31
57
Jan
75
Mar
65
71%
Jan
90%
Mar
2,500
116
Jan
623
Jan
256
%
3%
5%
40%
14%
108%
110
9%
Apr
Apr
Apr
Apr
Apr
15
Feb
206
7%
Jan
9
July
9%
9%
Oct
2,347
2,206
223
10,139
Feb
1
1%
8%
9%
48%
Jan
Feb
Apr
Feb
July
19%
Feb
113% June
Bonds—1
2%
Jan
5
Jan
6%
Jan
Elec & Peoples tr ctfs
Small bonds
Oct
23%
Oct
Peoples Pass tr ctfs 4s 1943
23%
compiled from official sales lists
Week's Range
1.95
July
YORK
30 Broad Street
9, both inclusive,
6%
105
400
1,800
DeHaven & Townsend
Sept
Sept
May
95c
3,000
6,600
76,200
300
Oct
900
4,100
700
48
5
87%
Aug
100
8c
Oct
Sept
40%
4%
24
Electric Storage Battery 100
General Asphalt
10
440
Aug
22%
18%
60
1
8c
Lockheed Aircraft Corp_.l
Por footnoted
29
180
May
6%
48%
13%
Feb
Feb
1,000
10c
Jade Oil Co
48c Sept
23%
34
6%
24
3%
Feb
20c
600
International Cinema
4c June
200
4
16%
4%
6%
General Electric Co
Intl Tel & Tel.
266
20% May
150
May
3%
16%
Electric Bond & Share.... 5
Stocks—
Feb
10
80c
Oct
Apr
5%
8
Sale
30c
Sept
20%
80c
July
34
100
8
Last
June
18%
9%
1
*
28
9%
Friday
10c
10
26% June
10% Sept
11% June
3%
Jan
5%
Oct
53%
Jan
14%
Feb
Globe Grain & Mill Co..25
Holly Development Co
Honolulu Oil Corp.
7%
t2
Philadelphia Stock Exchange
Feb
21%
80c
Jan
Feb
j
Members
30c
100
_._*
Mar
New York Stock Exchange
Philadelphia Stock Exchange
Jan
72
com
Feb
28%
Unlisted—
Mar
May
23%
Hancock Oil a
Oct
14 %
Jan
8%
Mar
10c
23%
70%
Gladding-McBean & Co..*
47
22
4%
8
Sept
3%
104%
Sept
23%
71%
20%
9%
General Motors Corp... 10
Aug
Oct
1,900
8%
11%
1%
High
1%
Jan
2% Aug
15%
Jan
1% Sept
72% c
Oct
5% May
98
20
31%
11
4,000
Budd Wheel Co..
45
100
200
28%
19% May
Apr
20% Aug
35%
27,200
23%
Jan
Oct
Oct
24
Mar
24
400
21%
12%
14%
23%
Baldwin Locomotive..... *
Low
2
Citizens Nat t & s Bk..20
Aug
July
July
1.10
Budd (e g) Mfg Co
100
1,000
4,000
40
13
Week
600
Jan
l%c
Curtis Pub Co
Associated Gas & el a...1
35
16
Oct
5%
Range Since Jan. 1 1936
for
July
Oct
10
Teletype L.A. 290
Shares
32%
Mar
Sales
Low
Jan
95c
Apr*
Angeles Stock Exchange
Friday
25%
l%c
Mar
5%
July
both inclusive, compiled from official sales lists
9,
1,600
1.00
American Tel & Tel
Oct.
35
1%c
American Stores.
Los
24%
Jan
1
Oct.
.
Jan
11%
Imperial Development_25c
Chicago Board of Trade
San Francisco Stock Exch.
Angeles
100
1,700
31%
107% 107%
45% 46%
31%
107%
46%
38%
55%
Cardinal Gold
Exchange
Los
Jan
Feb
60
15,500
5,100
MEMBERS
523 W. 6th St.
Apr
Jan
Mining—
Black Mammoth Cons. 10c
Wm.Cavauer&Co.
Angeles Stock Exch.
3%
54%
51%
1513 Walnut Street
Los
40c.....
Jan
July
Feb
,S16
Oct
50%
15%
American Tel & Tel
Sept
Sept
50
July
1,150
100
Mar
Feb
13%
51%
24%
4,000
Oct
July
7%
17%
51%
42c
Mar
Aug
Sept
8
46
Oct
28
Feb
108
10c.
1%
44
105
Apr
46
23%
179%
40%
32%
4%
16%
Mar
28c
57% c July
46
PHILADELPHIA
New York Stock
1,700
2%
23c
23c
2%
"""■loo
42c
4%
4%
Oct
Western Air Express
Yellow Checker Cab.
16
15%
40
100
23%
4%
.
Co.. 10
Oil
Kamps Bakeries..*
Wellington Oil Co
1
16
600
300
42c
22%
4%
13%
375
5,662
Cos
...25
54%
105%
7%
15%
400
w
23%
178%
23
Apr
28
6%
38
37%
26% 27
54%
54%
105% 105%
7%
7%
15%
15%
38
1
Jan
Aug
-
15
Pfeiffer Brewing com
Reo Motor com
....5
10%
Amer Radiator & St Sani_.
8% Mar
Feb
6%
1%. Feb
Oct
5%
40% July
2,580
Parker Rust-Proof com2.50
Rickei (h w) com
2
River Raisin Paper com..*
Scotten-Dillon com__._.10
12c
Oct
Mar
Feb
32
357
*
Feb
60%
31%
19%
Jan
3
817
*
Oct
Feb
,316
5,755
t c*
38
16
20% Apr
5% June
Jan
3%
23
v
Mar
Jan
40
com..
5%
July
Sept
Aug
5%
11
23
com
Van de
Oct
3%
8%
2
560
40
Packard Motor Car
Universal
Aug
Feb
*
National Auto Fibres
Sept
23%
10%
4%
5
Parke-Davis
Union Oil of Calif
Oct
18%
21
Sept
Oct
2,936
4
19%
38%
15%
July
com
com
*
*
*
7
Motor Wheel
Motor Products
Standard Oil of Calif
Taylor Milling Corp.
Transamerica Corp...
72
July
100
Oct
Jan
2
Southern Pacific Co
Apr
Jan
2,970
1,480
_
Mar
Sept
7,723
25
4
6
54%
6%
2,522
70%
7%
2%
2%
16
Mid-West Abrasive com50c
Oct
320
101
.
_
24
238
2,810
27
27%
Oct
Feb
500
665
60
"l8%
10
com. 1
*
*
3%
9%
4%
% Feb
Oct
18%
Feb
28%
Jan
12%
Jan
9%
3% June
1,100
31
60 %
Kresge (s s) Co com
Lakey Fdry & Mach
McAleer Mfg com
Michigan Sugar com
Mar
6
*
*
.
Houdaille-Hershey b
So Calif Edison Co
13%
Hoover Ball & Bear com. 10
Hoskins Mfg com.
Sept
Apr
Jan
2%
5% May
100
70%
6%
1
.1
Grand Valley Brewing... 1
Hall Lamp com
*
Grahan-Paige
24
Oct
780
7
10
Sept
Apr
"16
si*
36
_*
General Motors com
Goebel Brewing com
33%
9%
14
9%
2%
38
*
com
Rice Ranch Oil co...... 1
400
14%
23%
1
Samson Corp 6% pf ann.10
SecurityCo units of ben int*
Security-First Nat Bk
20
Shell Union Oil Corp.
*
Signal Oil & Gas a com.. *
Feb
3
14%
23
23 %
*
ffigb
3%
325
38
5
*
Oil.,.
19
903
18%
.*
Federal Mogul com
Federal Screw Works
LOW
2,020
149%
7%
10%
41%
1%
Pacific Western
Oct
1%
9% July
25% May
6% Aug
2,535
4,418
9
*
Republic Petroleum
Shares
1%
11%
33%
1936
23
23
3
Detroit & Clev Nav comlO
High
10%
31%
8%
"m
1
_
Low
1%
11%
1
Baldwin Rubber com
Week
PHce
Par
Stocks-
Auto
of Prices
Apr
6% Mar
82% c Mar
30c
1st preferred
Range Since Jan. 1
Sale
Jan
62% c
Pacific Public Service....*
for
Jan
32c
10
Paoific Gas & Elec Co.-.25
Sales
Week's Range
2%
1.00
30c
Pacific Indemnity Co...10
Last
2i000
3,500
1,000
July
65c
Preferred c
Exchange
Friday
55o
....1
Pacific Finance Corp
both inclusive, compiled from official sales lists
9,
41c
High
100
Oceanic Oil co
Randolph 5530
Detroit Stock
Oct.
62$
50c
Low
Shares
Nordon Corp
5
Occidental Petroleum.... 1
DETROIT
Telephone
..1
Mencaso Mfg Co
Chicago Stock Exchange
Building
Price
Mt Diablo Oil m & Dev.. 1
New York Curb Associate
Exchange
Buhl
Week
62% c
4%
1
lange Since Jan. 1 1936
for.
of Prices
Low
High
62% c
3%
Mascot Oil Co
Members
New York Stock Exchange
Par
Week's Range
Sale
Wa iting, Lerchen & Hayes
10, 1936
4s.'45
9%
9%
20
12%
9%
20
26,200
575
1,000
20s
20
Mar
Oct
19
May
Oct
27
May
Volume
Financial
143
Chronicle
Members
H. S. EDWARDS & CO.
UNION
BANK
120
PRIVATE
A. T. & T. Tel. Pitb-391
Oakland
Oct.
Honolulu
Sacramento
Stockton
Last
Week's Range
Sale
Par
Stocks—
Allegheny Steel com._
Price
of Prices
High
Low
37
*
Ark Nat Gas Corp.
Preferred
5%
*
10(1
com.
10
9%
.*
Blaw-Knox Co
55%
*
Carnegie Meta sCo.
Clark (D L) Candy Co
*
•
*
40%
180
5%
200
10
3%
7%
300
996
15,280
2,870
Jan
20
Inc.
Exchange
Exchange
20%
10%
Mar
*
Apr
Jan
15%
100
1
July
430
31
Jan
255
97
Jan
4,792
1,100
10
Jan
14%
Mar
2%
Mar
13%
1%
"~6%
Mountain Fuel Supply Co.
Corp pref.100
Apr
61%
138
41
Jan
6%
9%
Mesta Machine Co...—5
1
58%
2%
*
14%
2%
6%
3,571
10%
524
4%
1%
64%
7%
Sept
July
Jan
10%
Sept
Feb
25c
3c
5c
4,700
2c
Jan
8c
4c
4c
2,660
4c
Jan
5c
Jan
Preferred
3
3%
*
31%
Pittsburgh Forging Co
1
Pittsburgh Plate Glass..25
12%
16%
16%
1
Ruud MfgCo
17"
5
San Foy Mining Co-.-..-l
Shamrock Oil & Gas
*
11%
16%
1%
*
"25"
Jan
1,310
1,462
7%
May
105
12%
3
120
17
-
1,000
2c
5
5c
1,050
4,863
1,725
4c
20
Jan
Creameries of America...
Jan
6c
Sept
26
25
393
1%
1%
100
1%
45%
.
Jan
5%
Sept
17
Jan
1%
47%
945
60c
Jan
757
34%
Jan
48%
2%
1%
47%
151%
393
97
Jan
151%
Aug
22% May
Oct
1%
Jan
Oct
Feb
Sept
Sept
203
Crown-Willamette pref...
Crown-Zellerbach vtc...
Apr
5%
Oct
Jan
July
Aug
630
5%
Aug
7%
July
748
15%
Jan
31%
Sept
Jan
32%
22%
1%
Feb
45
Feb
28
232
23%
21%
467
21%
Jan
%
1,113
%
Sept
30
600
25
J an
June
52
150
44
39
724
30% June
10
83%
10%
344
41%
41%
104% 104%
20%
22%
150
83%
10%
31%
332
10
99%
Jan
55
Jan
10% LOct
Oct
41 %
100% June
4,333
14%
July
1,323
32%
29
July
52
43%
105
83%
Feb
Oct
Oct
Aug
June
Oct
16
Feb
43
Sept
106%
23%
Feb
Jan
34
Sept
Apr "112
Aug
Oct
6
700
107% 109
12
11%
145
5%
100
14,310
7%
Jan
12
195
91%
Apr
107
Oct
91
Apr
106
Sept
5%
11%
107
105
105% 105%
107
25
14
17%
8,431
3%
62
1,015
32%
16%
com...
25
5%
105%
Giorgio Fruit
3%
52
107%
Di
Jan
38%
5%
Oct
Jan
Oct
23%
Aug
75
Aug
66
23
23
150
22
Jan
30%
25%
25%
1,142
14
Mar
25%
Oct
19%
19%
300
21
Apr
58
Ewa Plantation
60
23
25%
19%
S3 preferred
Eldorado Oil Works.
58
58
73%
Aug
5
Jan
14%
Feb
57% June
33%
94%
Foster & Kleiser com.
Preferred
33%
94%
33%
96
185
30% June
Oct
94%
40
Mar
4c
Mar
3%
Aug
186
17
30%
103% 103%
22%
31%
June
48%
.
-
Consol Aircraft Corp
Consol Chem Indus A
Sept
2
46%
Victor Brewing Co.
1
Westinghouse Air Brakes.*
-
2c
17
Jan
15
11%
Jan
55
195
29
10%
Oct
12%
24
%
83%
Apr
Jan
1
60
Feb
140
23
United States Glass Co..25
-
Feb
98%
4c
Standard Steel Spring....*
United Engine & Fdry..
Oct
14%
111
4%
"i%
32
Jan
2c
Rights...
Aug
25
4
7%
1%
17
Aug
2%
445
100
12%
10%
-.5
Renner Co
3%
32
11%
11%
134% 134%
Pittsburgh Screw & Bolt..*
Pittsburgh Steel Fdy
Plymouth Oil Co..
826
Sept
27%
21%
41%
104%
Feb
1
Preferred
Pittsburgh Brewing Co...*
17
5%
52
Oct
Sept
2,545
4,217
1,892
'
30
38%
103%
Jan
1%
48%
107%
47%
48%
104% 105
13%
Phoenix Oil com
315
5%
22%
192
30
com__l
High
19%
%
Calif Ink A
Low
25
27%
21%
July
40
9%
3
Oct
Range Since Jan. 1 1936
Sha res
23%
5%
5%
Oct
8%
High
30%
Oct
-
11
for
Week
of Prices
195
Bishop Oil Co...
Feb
Jan
190
1%
Week's Range
Low
5%
21%
Oct
7%
438
30
10
July
Oct
2,661
Lone Star Gas Co
Jan
Jan
18%
1%
6%
23%
Jan
Feb
8%
16%
20%
Kppers G & Coke pref--100
July
14
Assoc Insur Fund Inc
Oct
Juy
2%
19%
-
Exchange,
Stock
Sales
24%
Oct
22
Price
Anglo Calif Nat Bk of S F20
Apr
35
8%
18%
9%
27%
Sept
10
300
11
10
28%
Oct
62%
20%
4%
3% June
926
Duquesne Brewing com-.5
Fort Pittsburgh Brew-..-l
Last
Par
Stocks-
Juy
9
6%
20%
40%
9%
Jan
2
780
11
Electric Products
*
Follansbee Bros pref.-.lOO
McKinney MfgCo
July
2%
8%
com
Jan
19%
4
Rights
Devonian Oil
July
47%
13%
669
57%
High
25%
22
19%
Crandah Nick & Hend Co *
Natl Fireprf
(Asso.)
Cotton Exchange
Coffee & Sugar Ex,
Honolulu
Fresno
Sale
Low
2%
18%
2%
21 %
6
Columbia Gas & Elec
Harb-Walk Refrac
York
Commodity
Tacoma
Friday
Range Since Jan. 1 1936
for
Week
Shares
18%
1
Prod-".*
Ohio Stee
Seattle
Francisco Stock
Sales
Friday
Centra
San
York Curb Ex.
New
New York
both inclusive, compiled from official sales lists
9,
Armstrong Cork Co
WIRES
Portland
Beverly Hills
Pittsburgh Stock Exchange
to
Exchange
New
Specialists in Pittsburgh Listed and Unlisted Stocks and Bonds
3
Stock
San Francisco CurbExchange
Chicago
Board
of
Trade
Chicago
Stock
Exchange
Los Angeles
San Francisco
BROADWAY, NEW YORK
New York
Oct*
LEASED
York
San Francisco StockExchange
Corporation Bonds
Municipal and
PITTSBURGH, PA.
BLDG.,
Oourt-6800
Tei
Neto
Dean Witter & Co.
/ Pittsburgh Stock Exchange
j New York Ourb Exchanges(AssocIate)
Members
2345
40
40
115
32% June
4%
5
4%
4%
1,096
3%
19
18%
18%
38
38
38
General Motors com____l(
72
36%
70%
36%
72
General Paint A
36%
14
14
14%
2,136
10-
20
18%
20%
5,390
948
_.
com.. —1
B common....
Gladding-M cBean
July
36
112
Feb
Feb
47%
4%
Mar
Sept
80
18
Sept
20
140
38
Sept
48%
744
54%
760
10
Feb
36 %
Oct
Jan
Jan
73
July
Oct
37%
Sept
July
14%
Oct
14%
Apr
20%
Oct
8%
14%
July
11%
Jan
22%
23%
39%
341
*
Jan
3%
5%
Feb
Hudson Motor.
ST. LOUIS MARKETS
22%
23%
Jan
23%
Aug
23
23%
505
19% May
24%
Sept
39%
867
26
Jan
39%
28
29
877
21%
Jan
32
July
31%
31%
10
18%
18%
205
27 %
16
Jan
18%
Oct
38%
31%
145
Unlisted—
Pennroad Corp vtc.
9%
28
Westinghse Elec & Mfg. .50
9%
Mar
June
31%
18%
July
3%
July
July
4%
7%
6%
Mar
3
6
Enquiries Invited
on
all
•
Lockheed Aircraft...
York Curb
Chicago
Board
315 North Fourth St., St.
36/
15%
82(
14
3
73/
3%
60(
40%
40%
15/
8%
8%
8%
10(
1
52
Magnavox Co Ltd
2%
Magnin (I) & Co com
Telephone Central 3350
6% preferred.
100
2,32/
lit
8
1%
3%
23%
8
1%
8
Louis, Mo.
1.99C
9
8%.
8%
108
(Associate)
of
Trade
54
106% 108
54
Letourneau...
MEMBERS
New
6%
15%
40%
Mid-Western and Southern Securities
New York Stock Exchange
St. Louis Stock Exchange
6
39(
13%
2
Business Established 1874
3
3
15%
13%
I. M. SIMON &.CO.
1,104
1
500
h
50C
3%
23%
108
109
1,477
23 %
75C
109
30
1%
10
Apr
2% May
25%
Jan
6% June
25
June
6% May
105%
5%
1%
Aug
Oct
Aug
July
Aug
16%
3%
Jan
42%
Sept
11
Oct
Jan
54
Oct
11%
Jan
116%
Jan
Apr
10
Feb
Jan
4%
4%
24%
Feb
2
July
16
Jan
104%
19%
16
Oct
Jan
109
Oct
Oct
Oct
Marchant Cal Mch com.10
Market St Ry pr pref. .100
Natomas Company
*
3
to
Oct.
both inclusive, compiled from official sales lists
9,
28%
11
10%
11
2,240
No Amer Invest com
20
20
20
60
92
90
92
60
15
14
15
1,517
14
June
19%
Oct
29%
29
29%
65
28
Jan
33%
Feb
21
St. Louis Stock Exchange
Oct.
24%
19
23%
2,535
19
Aug
32%
Jan
7%
2,410
100
6% preferred
Sales
Friday
Last
Par
for
Sale
-Stocks-
Week's Range
of Prices
Low
High
North Amer Oil Cons..
Week
Price
Range Since Jan. 1 1936
Shares
Low
B.._;._
High
7
Pacific Can
American Inv com
Amer Inv conv
*
28
30
25
pref
27%
*
"49"
46%
Burkart Mfg com (new)-.l
Preferred
*
27%
27%
Brown Shoe com
Coca-Cola Bottling com__l
Columbia Brew com.
5
.
*
29
Jan
28%
Sept
Sept
Aug
Oct
5
51
Jan
95
4%
200
3
Jan
6%
90
128
21
83
90
45
470
32
6%
9%
Oct
Oct
Jan
Mar
26%
514
105% 106%
7
7%
25
25%
105
104%
Jan
2,801
1,688
4%
18%
Jan
8%
Sept
July
Jan
26%
Sept
Jan
142
139%
Jan
152
104%
25
101%
July
22
22%
July
23
Aug
45%
45%
45%
207
38%
Jan
3%
6%
3%
3%
410
2
Jan
5%
6%
678
4%
Jan
24%
22%
24%
1,791
16%
July
24
93
90
93
670
Jan
93
Oct
44%
44%
45
525
80%
34%
Jan
45
Sept
37%
35
38
1,110
29
May
38
6
Oct
Preferred.
22
120
17
Sept
104
Oct
8%
1305
9%
Globe-Democrat pref. .100
Griesedieck-Western Brew*
116
19%
19
19%
Hussmann-Ligonler
com.*
14
13%
14
1088
*
14
13%
13%
1413
Hydraulic Pr
15%
47%
13%
13%
9%
Oct
Apr
116
Oct
16
Aug
20
Sept
95
Jan
6%
9% June
4
14%
15
July
June
5%
6%
Series 1.
"
2
Rainier Pulp & Paper Co.
B
—
1
Republic Petroleum
Roos Bros
...
com
104
6
6%
30
„
Jan
16
47%
Oct
53%
Mar
33
11%
Jan
17%
Feb
112
12%
30%
July
Feb
13%
13%
23%
24%
Oct
109
109
11
11
10
6%
Jan
24
25
320
22%
July
15
16%
16
16%
Natl Bearing Metals com.*
Nat 1 Candy com
*
Natl Oats com
*
45
44
45
11
11
720
25
24
25
351
Rice-Stix Dry Goods com.*
11
11
475
113
20
10%
100
113
2
10
8
11
8%
124%
12%
40
2%
77
152
75
33
7
8
550
11
12
185
13
Aug
1%
1%
33%
187
1,137
3,152
July
47
46%
4%
47
1,795
4%
6
607
2
Oct
2%
2%
2%
525
1%
Oct
2
Oct
3%
Feb
8
Oct
3% May
21% Mar
12
Oct
12%
13%
293
9%
39
40
1520
28%
Apr
2343
76
76
$2000
68
71
12,000
32%
32%
2,000
69
34
May
2%
8%
38%
Sept
8%
Jan
127%
Oct
40
Oct
K
Mar
13 %
6% preferred
Transamerica Corp.
Oct
Mar
Thomas-Allec Corp A...
Tide Water Assd Oil com.
19%
104%
14%
23%
23%
36
United Air Lines rights.
1.45
8%
244
38%
8%
36%
3%
8,397
4
225
July
82
Sept
__
23%
6%
35
2%
14%
Oct
34%
July
Jan
47
Oct
May
5
Sept
July
Jan
Aug
June
220
101
Jan
14%
75,666
11
Apr
20%
Aug
Jan
21%
23%
6,235
23%
24%
790
10
Jan
36
36
25
23
Jan
1.45
902
12%
15%
2,845
60
61
310
1.25
20
2%
9
Oct
Jan
Mar
Feb
47%
Feb
4%
19%
106%
14%
28%
25%
38
Oct
Mar
Feb
Feb
Sept
Sept
1.25
Oct
7%
Jan
28
July
50% June
63
Aug
1.35
310
310
22
Jan
71
Oct
37
37
37%
1,694
26%
Jan
28%
Jan
35%
Jan
38%
58
52
58
1,500
23%
Jan
58
5
Feb
Sept
75
19%
60
1%
14
Feb
Jan
104%
1,665
July
Loct
Apr
19
13%
Oct
13%
30
24%
104
15%
76
23%
15
Waiiau Agrlc.
71
Sept
25
Jan
Jan
2% May
Jan
Bonds—
tUnited Railways 4s__1934
%
Sept
15%
Feb
11
Feb
Feb
854
117%
Feb
July
76
Aug
Apr
Aug
35
34%
7% June
Feb
Aug
110
75
'
17%
48%
4%
7%
121
3,226
.
107
Sept
Apr
108%
30%
9%
13%
123
Signal Oil.
25
97%
23%
Apr
104%
Jan
30% June
76
1092
147
Oct
1,152
Apr
July
Jan
111%
15
25
33
112
68
47
9% June
25
8%
124% 125
7%
625
109
32%
112
1%
11
25
St Louis Bank Bldg EquipCommon
*
3,329
13%
24
*
20
Meyer Blanke com
*
Mo-Portl Cement com..25
15
6%
50
prod
15
369
30
29%
265
48
13%
Jan
114
718
16
~48~"
4%
5
116
79%
79%
79%
Oct
July
119
95
For footnotes see page
108
July
July
85
100
1941
Jan
Jan
Mar
95
120
St L Car 6s extended
50
151
Apr
tScullin Steel 6s
29%
1,545
137% 139
Mar
15
3,606
54%
150
July
com
32%
29%
54
138
74
Wagner Electric
32%
29
150
97
Scullin Steel pref
*
So western Bell Tel pref.100
Stix Baer & Fuller com.. 10
July
Oct
116
St Louis Car com
July
40%
32%
29%
58%
Apr
1
Scruggs-V-B D G com..25
23
Feb
Aug
35
1st preferred
Oct
31
16
95
com
Jan
19
1,971
81
120
Common
14%
3,574
38%
Feb
100
Laclede Steel
Aug
21
Apr
Aug
95
clay
5%
Oct
13%
120
Laclede-Chrlsty
Oct
92
30%
100
com..*
Jan
Jan
14
...100
Shoe
68%
70
1st preferred........ 100
Brick preflOO
International Shoe com..*
13
20
6%
2d
Johnson-S.S.
9
16
Emerson Electric pref. MOO
Falstaff Brew com
1
Preferred
29%
Jan
10% June
69%
15
preferred
Jan
20
Aug
Sept
79
Ely & Walker Dry Goods—
25
110
27%
25
6%
"79"
*
Common....
6%
29%
54%
106%
7%
25%
July
28*
Aug
19
32%
Feb
3,942
37%
19%
38%
Sept
26 */.
16
Chicago & SoAirlines preflO
Dr Pepper com
Elder Mfg com
227
27%
32%
4%
13%
30%
64%
28%
32%
32
4%
279
28%
30%
49
24%
28%
290
Apr
327
Oct
Apr
Sept
Oct
Financial
2346
Oct.
Chronicle
Sales
Friday
Range Since Jan. 1, 1936
Last
STRASSBURGER & CO.
133
MONTGOMERY STREET
SAN
Shares
Dist
48%
*
Oct.
3
Oct.
to
9,
Sale
Price
25c
4)4
Allegheny Corp com
Amer Radiator
23)4
__
100
178)4
1
Amer Tel & Tel
176
79c
Amer Toll Bridge.
75c
40)4
Anaconda Copper
"24 *$
Anglo Natl Corp
.20
400
4)4
23*4
425
404
179
75c
25o June
3
Feb
24
Apr
July
179*$
Apr
Sept
Jan
81c
Oct
39*$
July
40%
Sept
25
15*$
Jan
14
3,685
75
25
Oct
13,100
6%
Jan
5
32
32
160
28%
Apr
32
Bolsa-Chica A
10
8
8
140
5%
Mar
Bunker Hill-Sullivan
10
5
Ark Natl Gas A
15)4
Atlas
Corp com
Aviation Corp
5
3
Bendix-Aviation
8J4
9)4
1
Bancamer ica-Blair
Mar
5%
15*$
Feb
20
5*4
9*4
85
4%
Jan
Oct
Jan
Mar
Oct
Oct
Oct
8%
85
July
Mar
80
81*4
40
52
16*4
19)4
320
12
May
19%
Oct
2.75
zB
2.75
2.75
110
2.00
Apr
May
4.50
Jan
90
Jan
92
90
Calif-Ore Pow 6% pref.100
92"
6% preferred 1927— 100
—
—
90
42c
1.00
-
1.00
Preferred
1
Cardinal Gold
4
Cities Service...
Claude Neon Lights
Coen Co'sA
60c
1
110
45c
"
75
60
92
42c
45c
Central Eureka Mine
6
63
90
1,400
Jan
42c
75c
Aug
Feb
1.45
Aug
Jan
7%
Feb
60c
Oct
1%
Feb
650
45c
Sept
4,950
4,508
1.00
70c
575
110
175
Oct
Jan
Consolidated Oil
14)4
14*4
115
11% May
15%
Crown Will 2d pref
96
97
140
72
Mar
97
6%
1
Curtiss-Wright Corp
2
23 %
General Metals
Gt West
2
Holly Development
Idaho-M aryland
2
Jan
42
17
Jan
26%
Sept
July
22*4
24*4
4,778
17
Jan
26%
Apr
70
73*4
285
59
June
73%
Oct
22*4
110
21
Apr
22%
Apr
85c
16%
6%
July
Jan
1.00
1.15
5,050
90c
2.95
Feb
19
Feb
13*4
288
11*$
Sept
Sept
50c
48c
50c
2,379
22 c
Jan
3.95
1.60
Jan
37c
July
2
July
3.85
3.95
1
40c
45c
4,904
2,825
..10
1*4
1*4
75
--1
2
Lucky Tiger
*,27c
30c
M J&M &M Oil
10
7%
...
Oahu Sugar
Olaa Sugar
2.40
Mar
35c
Feb
25
10*$
Mar
10*$
Mar
50
Sept
Jan
Pacific Clay Prod
50
10
36%
8
4,470
7%
Oct
8*$
July
8
500
7%
Jan
10*$
Mar
41*4
41%
250
27%
33c
2,000
21c
Jan
18*4
13)4
13*4
18*4
150
6*$
Jan
13*4
13*4
110
8
June
360
10
3.40
3.90
17,486
2.50
.j|_
3.55
Pacific Coast Aggregates..
July
Sept
22*$
July
Aug
14
100
Aug
3.90
Oct
52*$
41
Feb
12
13
Mar
13*4
1,310
34
11
Corp (Del)
40
15*4
34
20
Pioneer Mill
11*4
13*4
13)4
page
7%
Feb
13*$
Sept
3
to
Oct.
9,
16
156
4
June
16
23
2.746
13
Mar
23
3
June
5*4
6
*
General Steel Wares
Aug
8%
Mar
4,955
5% June
11%
Sept
1,630
4
51
44*4
51
450
20
20
5
4.165
"ilk
13*4
Int Nickel of Canada
62
100
Preferred
Amal Electric Corp
Preferred
Associated
24*4
3
*
17
50
Breweries
*
Bathurst Pow <fc Paper A.*
Bawlf (N) Grain
*
9*4
9*4
15
14)$,
2
2*4
26
Bawlf N Grain pref
100
Bell Telephone
100
*
151*4
A.*
25
34*4
Brazilian Tr, Lt & Pr
British Col Power Corp
*
B
150
15)4
31%
4*4
15)4
4*4
*
10
Building Products A
*
48*4
Canada Cement
*
Bruck
Silk
Mills
8
47*4
8)4
9
100
87*4
Can North Power Corp
*
*
26*4
Canadian Steamship
*
Preferred
Can Forgings class A
Canada Steamship pref.100
Can Wire & Cable cl A
Class B
Canadian Bronze
Preferred
11
*
8*4
42*4
100
'"5*4"
Canadian Car & Foundry.♦
10*4
22*4
Preferred
Canadian Celanese
Preferred 7%
25
*
100
28*4
129
16*4
2%
I
2
May
5%
Oct
4
Aug
7H
Jan
16
3,145
6.021
40
40
14
30
Jan
42
37
37
5
26
Jan
37
Oct
100
100
10
86
Jan
100
Feb
34
36
28,477
30
May
76
Oct
58
58
25
55%
Apr
60
Jan
90
91
46
85
Apr
103
Jan
42
5,360
39
Jan
14
40
100
35*4
40
ll"
Montreal Tramways...100
40*4
40*4
45
June
...25
42*4
42
42*4
152
39%
Mar
44
July
*
23%
21
25%
5,801
13
May
25%
36*4
36
30
2,345
29
July
38
64%
64*4
65*4
5,856
44
Jan
210
199
Jan
240
Mar
10
152
June
National Breweries
*
Preferred
Nat'l Steel Car Corp
Niagara Wire
new
Noranda Mines Ltd
*
Ogllvie Flour Mills
225
*
1,370
1,200
June
37
85o
5*$
Oct
Jan
165
*
11
11
100
6
Jan
Ottawa Lt, Ht&Pr
Prrferred
100
100*4
100
101
130
88
Feb
11%
101%
100
103*4
102
103*4
Feb
110
Jan
Ottawa Traction
100
21
19*4
21
140
15
June
21
Jan
*
57
57
58
125
48
Mar
58
Oct
6,379
19
Oct
160
100
Preferred..
Ontario Steel Products
J
Penmans
Apr
Sept
8%
July
25
Jan
55
Feb
48*$
18*4
17
19
Quebec Power
21
20%
21*4
3.747
*
Regent Knitting...
Preferred
17*4
25
100*4
Saguenay Power pref
St Lawrence Corp
4*4
*
50
A preferred
6
7*4
...
16
17*4
100*4 101*4
4
4*4
16
18*4
60
135"
600
16
Jan
135
June
5
119*$
20*$
Jan
18*$
July
25
22
16
May
22
122
124
20
114
June
10
345
9
Shawinigan W & Power..*
24%
Sherwin Williams of Can.*
21*4
20
_.*
92
100
*
13*4
12*4
13*4
Steel Co of Canada
*
69*4
69
70*4
61)4
61)4
12
Oc
Oct
Oct
Jan
Jan
98
Jan
11
Juue
14
Mar
Jan
70
Aug
89*$
1,695
1,809
.25
127*$
Oct
57
20
92
Southern Can Power
50%
1,115
July
Preferred
61
1*4
1*4
49*$
Jan
3*$
Oct
Feb
Oct
100
65
Wabasso Cotton
*
25
25
210
20
May
32
Jan
Western Grocers Ltd
*
60
60
4
48
Feb
60
Sept
115
115
40
107
Jan
115
Sept
1,182
1,333
2
Sept
Preferred
Preferred
115
100
Winnipeg Electric A
new
pref 100
3)4
4
2%
17*4
4
Winnipeg Elec
2*4
3*4
*
B
17*4
100
"72"
66
72
50
Woods Mfg pref
58*4
58
2%
17%
25
58*4
270
50
3%
4
Aug
Apr
Oct
17*$
May
Oct
72
Oct
Oct
14%
Sept
140
39
l*X4,
xco
Commerce
100
159
159
160
239
148
Apr
170
Feb
9*$
Feb
Montreal..
100
202
200
202
582
184
May
214
Feb
281
281
20
271
Jan
300
178
184*4
1,027
164
Jan
184*$
225
225
28
225
Oct
234
Banks—
Canada
100
Canadienne
100
1001
184"
lists
of Aug. 24,
1, 1936
235
50
85
Management, &c., required by the Acts of Congress
1912 and March 3, 1933, of the Commercial & Financial
personally appeared Herbert D. Seibert, who
that he is the editor of
Jan
having been duly sworn according to law, deposes and says
Jan
the Commercial & Financial Chronicle and that the
Jan
knowledge and belief, a true statement of the ownership, management. &c., of the
aforesaid publication for the date shown in the above caption, required by the Act
21*4
Sept
38*4
Jan
3
Feb
Jan
23
Feb
of Aug.
July
15
Jan
Postal Laws and
17*4
Feb
9)4
10*4
Mar
1.00
Sept
9)4
28
Jan
and business managers are:
Jan
Publisher, William B. Dana Company, 25 Spruce St., New York, N. Y.
Editor, Herbert D. Seibert, 25 Spruce St., New York, N. Y.
Managing Editor, Herbert D. Seibert, 25 Spruce St., New York, N. Y.
Business Manager, William D. Riggs, 25 Spruce St., New York, N. Y.
(2) That the owner is (if owned by a corporation, its name and address must be
stated, and also immediately thereunder the names and addresses of stockholders
Oct
owning or holding 1% or more of the total amount of stock.
Jan
48*4
May
9)4
Oct
58
Jan
88*4
Sept
3
June
16
11
Oct
27*4
Feb
7*4
8*4
805
6*4 June
15*4
Feb
Oct
10
23
Jan
40
5
9
Jan
17*4
31
Jan
42*4
Oct
102*4 May
108*4
5*4
11*4
July
15,795
9,227
5,447
13
5*4
Mar
Apr
May
23
Oct
Oct
Oct
Oct
119
112
Mav
31*4
130*4
Feb
130
21
170
18
Feb
21*4
July
25*4 May
Oct
10
22
30
Jan
36
48
Jan
55
Aug
45
97
May
105
Jan
Aug
30
672
23*4
Jan
34
Mar
45
54
4,200
9,800
1,570
26
Apr
54
Oct
165
100
July
5*4 June
Aug
6%
If not owned by a
corporation, the names and addresses of the individual owners must be given.
If
unincorporated concern, its name and address
as well as those of each individual member, must be given):
owned by a firm, company, or other
Owner, William B. Dana Company, 25 Spruce St., New
July
3.25
4
as amended by the Act of March 3, 1933, embodied in Section 537,
Regulations, printed on the reverse side of this form, to wit:
and addresses of the publisher, editor, managing editor
name3
Jan
6
80
the
4.50
33
July
24, 1912,
(1) That
following is, to the best of his
38
425
10
Chronicle,
6
8,121
758
1,345
Oct
10
9)4
88**4
42*4
Feb
Mar
July
2
108*4 108*4
5
5*4
9)4
11*4
23
21*4
30
27*4
Aug
July
14
290
141*$
Jan
7*4
50
11,355
1,002
58*$ June
Jan
2
25
375
51 %
133
published weekly at New York, N. Y., for Oct. 1, 1936.
State of New York. County of New York, ss.: Before me, a notary public, In
High
Low
Shares
77
*No par value
Statement of the Ownership,
Range Since Jan.
139
439
-.100
Toronto
48*4
4
Sept
Jan
Feb
6*4
60
9*$ May
5
Feb
7*4
18*$
Jan
Oct
5%
3*4
Jan
Apr
37*4
5%
8
40
3,960
25
124
Oct
Oct
10,296
12,258
2,465
56%
23*4
100
Aug
6%
Jan
6*4
Oct
July
70*$
3*4 May
4
18,105
135
48
Preferred
Sept
1.50 May
18*$
101*$
4*$
5
48
Simon (H) & Sons
100
Oct
7*$
9
100
St Lawrence Paper pref.100
Preferred
238
60
135
St Lawrence Flour MlllslOO
Preferred
225
18
21*$
Aug
Aug
Jan
7
7*4
Jan
11H
Jan
14%
4% May
Feb
12%
987
7*4
101*$
3.10 June
903
6*4
93
10*$ May
101
870
*
165
Power Corp of Canada...*
2.01c June
Oct
*
Class B
Canadian Locomotive
Oct
Aug
16*4
52)4
Oct
Sept
28*$
44%
Jan
Candn Hydro-Elec pref 100
Candn Industrial Alcohol.*
227
66*$
Feb
29
Cndn Foreign Investment *
Feb
Sept
25%
Jan
36,960
1,428
52*4
17%
Jan
July
19
16*4
22
12*$
32*$
Oct
101
Oct
225
5)4
Feb
Jan
52
Jan
Mar
Apr
22
123
17
1.25
101
25
170
24*$
22*4
Canadian Cottons pref.100
Oct
Oct
170
1,945
36*4
100
275
100
37%
16*$
38
663
1,177
129
Jan
Jan
65
2
40*4
57
33
Jan
152)4
17*4
Sept
196
4,450
18
Mar
40
95
Jan
Feb
20
Sept
17*4
Oct
Oct
6
65
20
11
July
Apr
141
26%
64*1
Jan
3
5.50
140
4*4
10*4
27
July
582
34*4
62%
43% May
35
Oct
Mar
4.00
152%
26
14%
Apr
2
20%
Rights
Canadian Converters ..100
Canadian Cottons
3
17*4
10
40
"17*4"
*
Canadian Canners Ltd
8*4
25%
2
*
*
87
3*4
26
Apr
Mar
5*4
15%
*
Montreal L H & Pr Cons. *
Week
9
13*$
Jan
Mar
Aug
of Prices
3
16%
1
for
8*4
40
119
265
Sales
9
Jan
9% June
Mar
Week's Range
*
Jan
5
and for the State and County aforesaid,
*
Alberta Pac Grain A
17*$
Oct
13%
Sale
Agnew-Surpass Shoe
Oct
5
100
Montreal Telegraph
20
5*4
.v...*
Preferred
Oct
May
5%
*
*
Mitchell (J S)
51
105
37%
170
170
Jan
30
88
17,285
5
95
34*4
8
Ocl
2,867
64*4
May
13*$
546
14
37
"35"
7
20
62%
4*4
25*$
25,899
98
94
94*4
Jamaica Public Ser Ltd.—*
Montreal Cottons
16%
13*4
61*4
International Power..... *
International Power pf.100
McCoil-Frontenac Oil
37
60
*
Lindsay (C W)
Massey-Harris
14
14%
97*4
5
605
6
37
"l6%
Intl Paper & Pow pref.. 100
100
Oct
8
14
Preferred
Mar
11%
5)4
98
100
Oct
6%
58%
Sept
11*4
6)4
100
Lake of the Woods
54%
10
Oct
Feb
8
6
11*4
Imperial Tobacco of Can.5
Preferred
14,540
6*4
56
56
Gurd, Charles
_♦
Gypsum, Lime & Alabast.*
Hamilton Bridge
*
Hamilton Bridge pref—100
Hilicrest Collieries pref. 100
Holllnger Gold Mines
5
Holt Renfrew pref
100
Howard Smith Paper
*
Royal
High
32%
Jan
15
22
Nova Scotia
Low
10%
15*4
27*4
Jan
9
.
Last
Price
115
*
Aug
2343.
Par
30
Feb
22
both inclusive, compiled from official sales
Stocks-
32*4
*
Oct
28%
61*$
8
Friday
Jan
158
40c
Montreal Stock Exchange
Oct.
440
21
Feb
Jan
14
13*4
1
21%
32*4
21
Oct
3%
Aug
6,228
13%
5
145
10
50
Warner Bros Pictures
1*4
2
12
4% May
1% July
150
500
75*4
6,770
5
90c
5%
12
140
42%
74*4
9)4
"16"
148%
15
175
5%
Jan
July
158
85c
Victor Equipment
Feb
July
143
15
27*4
US Steel
8
79
60
10
157
18*4
35
May
1,207
100
31*4
35
4%
23,435
Oct
Tuckett Tobacco pref.. 100
Vlau Biscuit
*
18*4
35
June
Tooke Brothers pref
31*4
27*4
42%
8
Feb
155
Jan
460
7%
115
Jan
Jan
5.00
8
20
Jan
136%
Sept
31*4
United Corp
U S Petroleum
Apr
106
2%
4.50
Texas Consol Oil-.
Oct
35*$
14%
r 6io
450
5)4% preferred
25
Superior Portland Cem A..
18
Jan
10
5~oo
Calif-Edison..25
Jan
50
Apr
27
13*4
Preferred
34*$
Jan
Aug
25
85c
13*4
Schumacher Wall Board
.
Jan
6*$
1,433
75c
85c
Richfield Oil pref
Riverside Cement A
:
Oct
Apr
148 % 148 %
100
*
8
21
73*4
71
*
Sept
52*4
12*4
13"
6)4
7)4
72
...1
Mar
51
51
Packard Motors
14%
95
Electrolux Corp
Aug
54c
18*$
15*4
Pacific-Port Cem pref. .100
2 Pacific Western Oil
'
42%
Jan
28c
20*.
see
Feb
Jan
k"
O'Connor-Moffatt...
For footnotes
Sept
95c
13c
33c
41
20
Petroleum
Preferred
4.15
"
Feb
7*4
Mountain City Copper.
North Amer Aviation
Western Air Express
75c
7*4
Montgomery Ward
Occidental
July
4,900
10
50
M cKesson-Robbins
11,742
2
,
1
Preferred
2
Apr
Jan
3.15
13*4
Kinner Air & Motor
2
1.55
4.50
3,460
1
2
Southern
Feb
214
6*4
1.15
Internatl Tel & Tel
Radio
50c
13*4
6
75c
6
1
Italo-Petroleum
2
3,000
13
13*4
1
Internatl Cinema
Mar
31
110
"~85c
1
20
Honokaa Sugar Co
9%
Jan
10
23*4
22
20
Preferred
4%
40
73%
20
Elec-Chem
550
6*4
Oct
23*4
5
Electric Bond & Share
June
40
40
Dominquez Oil Fields
20
106
Preferred
Oct
Aug
3
48c
4*4
135
Sept
75o
Aug
1.10
110
32
154
Dryden Paper
Mar
19
2Calif Art Tile A...
2
10%
15*4
6
18%
2,525
110
Goodyr T pref inc 1927.100
4*$.
Apr
19)$
150
14%
7%
15%
7%
9%
12%
14
5
Argonaut Mining
3,169
50
153
B
39c
40*4
23*4
17%
19*4
Dominion Textile
High
9,000
2,406
1,865
81c
Mar
Foundation Co of Can...*
Low
200
35c
15
108
English Electric A
Week
of Prices
High Shares
Low
.25
Alaska Treadwell—
Range Since Jan. 1 1936
for
Week's Range
Last
Par
Stocks—
430
Eastern Dairies
Sales
Friday
21
154
Preferred
Francisco Curb Exchange
both inclusive, compiled from official sales lists
Aug
May
9*4
110
Dominion Steel & Coal B 25
San
51
25.364
.100
Dominion Glass
Feb
Sept
7,134
21*4
48*4
"23"
Dominion Coal pref....100
Wire
9%
60%
4,779
14%
Feb
15*$
60
7*4
*
Corp Seagrams
Dominion Bridge
High
.
Jan
59
9
60
Crown Cork & Seal Co
(Since 1880)
Stock Exchange—San Francisco Stook
Exchange—San
Francisco Curb
Exchange—Chicago
Board of Trade—New York Curb Exchange (Associate)
Members: New York
Low
17*4
*
Cockshutt Plow
Week
10%
5%
12)4
13)4
25
Con Mln & Smelt new...25
FRANCISCO
Direct Private
for
of Prices
Low
High
Price
Par
Canadian Pacific Ry
Week's Range
Sale
Stocks (Concluded)
10, 1936
York, N. Y.
Stockholders, Estate of Jacob Seibert, 25 Spruce St., New York, N. Y.
(3) That the known bondholders, mortgagees and other security holders owning
or holding 1% or more of the total amount of bonds, mortgages or other securities
are:
(If there are none, so state).
None.
(4) That the two paragraphs next above, giving the names of the owners, stock¬
holders and security holders, if any, contain not only the list of stockholders and
security holders as they appear upon the books of the company, but also, in cases
where the stockholder or security holder appears upon the books of the company
as
trustee or in any other
fiduciary relation, the name of the person or corporation
for whom such trustee is acting,
Is given; also that the said two paragraphs contain
embracing affiant's full knowledge and belief as to the circumstances
and conditions under which stockholders and security holders who do not appear
statements
upon the
books of the company as trustees, hold stock and securities In a capacity
has no reason to believe that
other than that of a bona fide owner, and this affiant
other person, association or corporation has any Interest, direct or
the said stock, bonds or other securities than as so stated by him.
any
Indirect, in
12*4
Feb
(Signed) Herbert D. Seibert, Editor.
Sworn to and subscribed before me this
24th day of Sept., 1936.
Thomas A. Creegan, Notary Public, Kings County, New
11*4
Jan
York,
Jan
com
4
County
Clerk's
No.
511.
New York
1937).
mission expires March 30
County Register No. 7C285.
(Mj
/
Volume 143
Financial Chronicle
2347
Canadian Markets
LISTED
AND
UNLISTED
r
Provincial and
Province
of
Bid
Alberta—
5a
Jan
1
1948
4%s
Oct.
1 1956
Municipal Issues
Ask
5s
101
Last
Week's Range
/61
62%
53
Oct
1
1942
11254 113
Sale
of Prices
6s
5s
May
90
48
June
4%S_.
Jan
11941
97
98
5s
June
15 1954
98
99%
5s_
Dec
2 1959 98%
100
Prov of New Brunswick
111
112
109
110%
15 1952
Sept
6a
Mar
1
1960
Stocks
11054 112
116% 118
Par
(Concluded)
1
1959
1962
106
108
Canadian Wineries
112
114
Carnation Co pref
Cocksnutt
Province of Quebec—
*
2
1950
11254 113 54
Consolidated Bakeries.
48
Feb
1
1958
109
Consolidated
1
1961
112% 114
Consumers
8%
19%
59%
204%
♦
Smelters -25
Gas.
.100
*
Cosmos
High
Range'Since Jan. 1, 1936
for
Week
Sahres
2
3%
27
7%
9%
1954
59
203
Sept
3 %
450
101
June
102%
Aug
Apr
2054
6,575
4,477
5%
15%
60
3,675
51
165
189
204%
27
412
49
40
23
22
23%
pref.. -25
1954
18
20
Dominion Steel & Coal B 25
7%
6%
11%
10%
15
1943
80
83
Crow's Nest
Nov
15 1946
82
85
Distillers-Seagrams
4%s-
Oct
77
80
Dominion
1
1951
..100
Coal
*
*
Eastern Steel Products
Preferred
*
*
English Electric A
*
Fanny Farmer
Wood,
*
Goodyear Tire
18%
25%
*
General Steel Wares..
♦
Preferred
Inc.
454
18%
19%
25%
Mar
18
Jan
106
Apr
93
1%
10%
3,812
15,191
1354
18%
|Jan
25
2M
Jan
Pacific
4s perpetual
Canadian
Ry—
debentures.
Pacific
Ry—
102 %
4%s
Sept
1
1946
6a
Sept
15 1942
5s
Dec
1
1954
108 54
4%s
Dec
15 1944
4 Ms
July
1 1960
104%
58
1 1944
July
Sept
55%
56
186
53%
Mar
59
Mar
25
19
25
11%
1154
11%
4
6
3,390
31
31
31
10
2.00
2.00
1%
2
1
60
13
Bid
Canadian
National
Ask
Sept
4%s^
June 15 1955
1 1951
114
114%
Bid
Ask
6%s
—July
1 1946
4Mb.
4Mb
Feb
1 1956
July
1 1957
114% 115
123% 114
July
1 1969
118
1 1969
1
Grand Trunk Pacific Ry—
4s
Jan
1 1962
127%
5s
Feb
1970
Jan
1
1962
30,295
112
101% 102%
„
15
King Street West, Toronto.
Toronto Stock
Oct.
3
to
Oct.
9,
Last
Sale
Stocks—
Par
Price
Week's Range
of Prices
High
Low
2%
10
2%
3%
3%
4
6,195
1.00
9
854
9%
5
4%
29%
5%
31
2,429
7,806
1,545
16
7,835
15%
103
42%
*
Albma Grain
Preferred
3%
100
22 H
19
*
6% preferred
3%
3
100
Bathurst Power A
*
Beatty Brothers
Brantford
100
50
152%
34
*
"l 5H
85c
Brit Col Power A
*
B
new
Preferred
Burt (FN)
Canada
Bread
*
85c
34
47
4%
9
..50
70
25
*
B preferred
50
Canada North Power
75c
2
48
43
43
6%
6%
100
100
Preferred
26 %
50c
A preferred
Canada Cement
26 54
15 %
11%
22%
3154
*
_
Building Products A
Burry Biscuit
2%
12%
23%
150% 153
34
31%
*4334
43%
17
2%
13
23%
34
4H
48
9%
75
43%
7%
101
800
465
65
5
51,775
4,490
Jan
65
28%
May
3%
July
810
1,820
May
1.40
4%
1854
27%
34
5%
48%
9%
75
47%
7%
101
*
9
9%
4,897
6
Jan
100
87
87
87 %
283
58
Jan
88
26 %
150
.*
Canadian Bakeries pref. 100
Canadian Canners
*
Canadian Canners 1st pref.
2nd preferred
*
8%
5
14
100
25
*
"l3%
31
300
15
60
10154
2,642
10154 10154
30
July
97
Mar
Sept
Jan
5%
18%
35%
Sept
Aug
31
June
Oct
17
Sept
4%
11%
19
Jan
28 %
15
Aug
10%
Sept
Aug
Jan
13%
13%
15
402
37%
37%
50
27
69%
70%
1,341
1,042
57
12%
5%
4254
18%
61%
9
8%
105% 106
43%
18%
19
9
60%
19%
------
12%
12%
4%
41%
6
9%
770
15
70
6%
70%
61%
Sept
9%
June
102
Jan
9
Jan
466
4%
107%
105
3%
2%
3%
607
*
4
4
4%
145
Oct
Oct
Aug
Jan
Apr
325
Jan
Jan
Mar
7,177
Sept
15
Sept
17 %
19%
101%
7%
26 %
64
Oct
49 %
1,109
1954
Oct
Apr
3,335
58,655
11,153
60%
107
Jan
15
495
61
Apr
95
14%
95
6954
61%
6%
100%
12
*
Zimmerknit
82
92
65
Oct
27
94
225
2% May
36
Apr
May
13%
98
Apr
May
2% Sept
114 Sept
2% June
Oct
106
1454
Aug
July
6
Oct
Oct
43%
19
Feb
10%
Oot
65
Jan
Oct
19%
107%
Oct
Mar
Oct
58%
57
58%
51%
Jan
58%
Sept
159
158
160
509
149
Jan
170
203
199
203
195
190
Jan
222%
Feb
100
204
200% 205
114
197%
July
221
Feb
100
32
Feb
100
Imperial
Feb
213
Jan
300
Jan
184
Oct
Toronto
226
325% 226
128
220
July
235
Mar
Sept
July
160
Feb
90
Mar
Sept
Sept
Mar
Oct
Sept
Oct
Oct
Sept
Mar
27
-
201
Feb
Loan and Trust—
Canada Permanent
.100
130
130
132
165
130
Huron
.100
71
70
71
133
70
&
Erie
*
20%
Ontario Loan
8%
100
..50
Toronto General Trusts 100
Sept
79%
8%
3
103%
114
74'
83
8%
Oct
14%
Jan
100
Oct
119
July
75
Sept
95
Feb
Aug
90
Aug
5
Sept
Apr
May
1.25
88%
4%
Banks—
3.25
Toronto Stock
Feb
Jan
57
5%
104
Oct.
3
to
Oct.
Exchange—Curb Section
9, both inclusive, compiled from official sales lists
Oct
Friday
Feb
Last
Week's Range
for
Feb
Sale
of Prices
Low
High
Week
Oct
Stocks—
Par
,
June
8%
Apr
1154
Oct
Bissell.
*
2,040
13%
May
22%
Oct
Bruck Silk
*
730
37%
Jan
50
Canada Bud
*
Jan
180
Price
Sales
Range Since Jan. 1, 1936
Shares
Low
High
Oct
5%
150
June
805
205
19% May
385
21
Jan
26% June
80
82
55
77
Apr
90
18
Jan
Corrugated Box pref...100
127
123
Jan
140
Sept
Malting
Crown Dominion Oil
_*
8%
------
*
Feb
Aug
•
No par value.
30%
35
21
Sept
26
10% June
25
12
Sept
16%
Mar
May
24%
220
24%
Sept
6%
2054
Canadian Wire Box A
125
7%
280
35
Canada Vinegars
Jan
15%
Ma
455
9
24%
Feb
11
Jan
5
10
21
12%
July
10%
Jan
*
Canada
Sept
5
43,230
2
*
Oct
6%
jlO
95
8%
8%
34%
25
25
34%
30%
3,200
1,785
3%
2,706
24%
8
5%
18%
35%
2%
6%
14%
95
5%
1754
3%
7%
12%
180
3%
Jan
21% June
164
20%
14
79
182%
Feb
139% 142
95
24
16 %
856
271
July
12%
23%
280
5,720
83
May
180
Mar
97
6%
165
9
654
6%
*
20
Jan
97
184
4
180
Cndn industrial Alcohol A*
July
20
Oct
Aug
7%
178
40
47
Sept
1.25
198
70
46
140
282% 284
1,920
20%
June
183
5%
46
130
284
80
22%
250
200
20 %
55
25
Jan
Oct
263
136
*
A
Oct
3,017
8,965
180
Royal
Feb
8%
11%
22 %
Jan
Montreal
15
9%
146
Jan
Sept
Sept
Sept
Nova Scotia
42
8
25
42%
Oct
Jan
76
27%
Feb
Sept
June
10%
*
Apr
654
104
1,086
Apr
5%
*
Dominion
20%
5
♦
*
Winnipeg Electric
Feb
30
103
"854
com..
Western Can Flour
Mar
142
51%
%
(Hiram)
Preferred.
Commerce
20
55
*
com
Canada..
8
*
_.*
23%
80
Oct
42
7%
95
June
19
97
.100
Gas
Jan
40
Canadian General Elec_.50
Canadian Wallpaper B
Apr
17
46%
9%
*
Canadian Pacific Ry
Jan
454
30
45
Canadian Oil pref
37 %
50
130
Canadian Oil
June
46%
2
B
50
Aug
Jan
90
Dredge
6%
Jan
90
26%
Preferred
33
20
2
Canadian
Oct
16%
90
Car
Jan
75c
13,456
20
105
July
Jan
Sept
9%
Oct
25%
Canadian
Oct
28
Aug
*
B
34
1%
300
Oct
Jan
11%
30
153
25% June
27
1,345
Canada Steamships
*
Canada Steamships pf.100
Canada Wire & Cable A
Canada Packers
Apr
Jan
85
X
94
_
*
Jan
141
Feb
1754
97
25
134
*
*
15
3,965
207
.100
9% June
Oct
Mar
175
15
Western Can Flour pf. .100
454
12%
Oct
40
40
15
...
Westons (Geo) common..*
New preferred
.100
1% June
Sept
Jan
531
31
Oct
475
28
Oct
Jan
7%
1,850
34%
Jan
12%
10
Aug
754
*
16%
10%
4
Apr
3%
Feb
1.25
*
39
19
12
Jan
2
100
250
18
—
Tip Top Tailors
Walker
Oct
4
302
175
*
Sept
Sept
Sept
254
260
4%
Oct
Oct
42%
Oct
Oot
6%
100
Jan
4,410
3
4%
23%
41%
250
7
*
6
16 54
*
*
Jan
25%
Brazilian
British American Oil
Jan
6%
14%
Brewers A Distillers
Preferred
490
1.25
23
Cordage pref-25
Brewing Corp. of Canada..
4
77,681
9,311
15 %
*
Bell Telephone
Blue Ribbon pref
4%
23%
25
*
Beauharnois
2%
95
175
—5
Ex¬
Standard Steel pref
Steel of Canada
United Steel
Abltlbl
103%
95
*
Union
14%
103
6
Saguenay Power
High
Oct
2%
♦
Tip Top pref
Low
Oct
1.50
103
*
Simpsons A
Simpsons Ltd pref
,100
*
Standard Chemical...
Week
20%
1.50
Preferred
Shares
Mar
50c May
20%
75c
*
Root Petroleum
Range Since Jan. 1, 1936
for
17%
20%
1.50
100
Riverside Silk A
Sales
Friday
22
Oct
July
90c
Power Corp
pressed Metals
both inclusive, compiled from official sales lists
Jan
20%
.100
Potrero Sugar
Exchange
18 %
*
Photo Engravers
Porto Rico pref
WA. 3401-8
70
2,492
1,512
National Sewer Pipe A
Canadian Commodity Exchange, Inc.
New York Curb (Associate)
Jan
22
Page-Hersey
PantepecOil
Toronto Stock Exchange
65
22
ion
Preferred
Member«
37%
175
B
STOCK BROKERS
22
Jan
70
Mulr heads
Co.
Jan
Jan
69
100
National Grocers—...
&
Feb
Oct
Feb
40c
11
A
Duncanson, White
2.25
Jan
6%
190
Monarch Knitting pref. 100
♦
Moore Corp common.
Feb
Apr
595
30%
Apr
Apr
37%
14%
36
*
2434
1454
10554
63
Aug
8%
21
,.100
Preferred
June
Oct
33
3454
65%
21%
*
Oct
43% May
20%
..10
Maple Leaf Milling...
Jan
May
13%
*
M cColl-Frontenac
109
1.90
20%
*
Preferred
119% 120
-Oct
3s
822
~
119% 120
5s
118%
6,702
Maple Leaf Milling pf.100
*
Massey-Harrls com
—
11754 11854
5s
24,261
1254
July
101
21
...
Preferred
Canadian Northern Ry—
Ry—
4Mb
80
1254
*
Maple Leaf Gardens..
Government Guaranteed B^nds
21,835
1,985
37
1.20
Sept
2.00
Oct
63
1.50
Oct
31
Oct
35%
*
6
Jan
18
10
*
Jan
2%
27
17
61%
*
Feb
Sept
2 L
36%
*
Feb
30
12
6
62
Intl Petroleum
B
Dominion
*
13%
14%
103% 104
3
Jan
4% June
22%
13%
Oct
25
21%
22%
Feb
6%
90
~7~580
17
*
8
Apr
May
18
5
Oct
.
May
5%
5.75
21
100
June
3
740
12,935
16%
Loblaw Groc A
Feb
90
13
Laura Secord
Sept
Jan
17
Lake of the Woods
:
28%
64%
13
Kelvinator
20
July
Oot
117
20
Internatl Utilities B__
30
Aug
84%
*
Intl Utilities A
Oct
Oct
424
1,855
*
Internatl Nickel com..
Oct
10
Hunts A
Ask
Feb
86
Hinde & Dauch
Railway Bonds
Oct
Feb
11%
10
*
Intl Milling pref.
Jan
8
4% May
8
May
55%
Hamilton Cottons pref ..30
Imperial OH Ltd
Imperial Tobacco
May
Sept
June
6%
*
B
14
Sept
Sept
5%
Hamilton Utd Theatres.25
Private wires to Toronto and Montreal
34 %
20
49
1,255
30
24
56
Apr
Oct
27%
18%
May
83
»
Harding Carpets
Co
17
106
3%
Jan
Apr
Oct
Oct
5
6%
*
Great West Saddlery.
Gt West Saddlery pref. 100
14 Wall St.
11,622
1,792
10,256
6,685
Jan
17%
30
Feb
9%
20 %
60%
205%
5
-.50
Gypsum
11%
16
30
*
A
Frost
Gundy
4%
*
Ford
Bonds
8
106
16%
100
Easy Washing
Canadian
Canadian
High
2
26%
June
&
Low
2,915
47%
5s
Dominion Stores
New York
Low
102% 102%
*
Mar
of Saskatchewan—
2%
.100
4%s._
Prov
Price
120% 121%
1
5%s._
Province of Nova Scotia—
4%s
119%
15 1965
4543- .-.May
16 1960
15 1961
Apr
Apr
4%s
118
93
Aug
4%s
Sales
/61
1937
Manitoba—
4%s
Exchange
Friday
3
1 1953 88%
Oct
As*
Jan
91
12 1949
July
4%s
Toronto Stock
Bid
5%S__
Prov of British Columbia—
Province of
of Ontario—
Province
64
/ Flat price.
2
2%
105
1%
Aug
Mar
35
Feb
27%
Jan
2%
Jan
Jan
Financial
2348
Oct.
Chronicle
10, 1936
T'
Canadian Markets—Listed and Unlisted
Toronto Stock
Toronto Stock Exchange—Curb Section
Week's Range
Last
of Priced
High
Sale
Stocks (Concluded)
*
17
100
70
DeHaviland
Preferred
Dominion
Low
Price
Par
Stocks (Concluded)
High
2
Jan
21
Oct
40
Jan
70
Oct
Oct
48%
50
Apr
9%
9%
11
2,981
4
Jan
11
Oct
96%
6%
97
484
56
Jan
100
Sept
44%
60%
.....
Hamilton Bridge
*
Hamilton Bridge pref._100
50%
Honey Dew pref
Imperial Oil
12 %
Int Metal Indust pref. 100
International Petroleum
»
4.40
4.25
4.60
4.20
4.15
4.60
Jan
1.00
Mar
6%c
Jan
1.12
Sept
Oct
Morris-Kirk land
65c
68c
70c
54c June
80c
Feb
Oct
Murphy Mines
5c
5c
6c
40,100
%c
Jan
8%c
Sept
Oct
Newbec Mines
4c
3%c
4c
15,600
2c
Jan
5%c
July
Maple Leaf Mines
22c
22c 23%c
May Spiers Gold Mines..
Mclntyre Porcupine
45c
44c
Oct
Aug
1.59
1.57
1.70
McMillan Gold
6%c
5%c
6%c
4
June
15
Oct
M cVittle-Graham
Oct
McWatters Gold
Oct
Merland Oil.
1.25
30
1.00
Jan
1.75
Mar
Mining Corp
4%
1,790
3.15
Jan
4.50
Oct
2%
270
1.25
Aug
2.50
Sept
111%
Jan
4
22
2
99
38%
38
63
62
63
*
27
.
Toronto Elevators
Jan
11
Jan
134
4%
27
21c
1.37
Feb
50
117
38
30
2%
July
Sept
Jan
42c
1.78 June
Sept
24c
Feb
Apr
12c
2.75
Sept
1.11
Aug
1.00
July
1.40
2.30
July
3.05
Jan
Feb
7,186
44 %c
Jan
66 c
Sept
Aug
Northern Canada Mining.
Northern Gold
Jan
63c May
47c
48c
4,500
28%C
10c
9%c
14c
15,800
9%C
Oct
18o
Sept
6.45
5.95
6.75
34c
Jan
7.00
July
6c
8%C
81,870
84,320
17,287
23,889
66,380
14,090
10,000
34,875
60
Aug
40c
Oct
5
Feb
O'Brien Gold..
18
Aug
37
Feb
Olga Oil & Gas New
7%c
155
34
July
39
Feb
Omega Gold
110
May
119
Feb
Apr
19c
1.15
2,855
^63
Sept
Sept
Feb
6,540
H
95c
July
15c
1.30
Jan
1%
2.24
1.22
2.50
Jan
20
Jan
Mar
2%o May
64c 65%c
Aug
1,599
49%
1.10
1
1,545
1,125
Oct
33
2.44
64c
32
2%
Sept
1.10
30
2.25
60c
2.45
50
2%
36%
*
Waterloo Mfg
Aug
Aug
Noranda
230
1.30
Walkerville Brew.'
30c
37c
NIpissing
53c
58c
58c
62c
3.26
3.25
3.50
1.01
.....
1.00
1.12
Oct
•Pamour-Porcupine
Paymaster Consolidated..
3%
Feb
Perron Gold
1.60
1.60
1.75
2%
Mar
Peterson-Cobalt.
2%c
2%c
2%c
6.05
6.00
6.60
Pioneer Gold
115
5%o
New Golden Rose
Pickle Crow
Toronto Elevators pref. 100
United Fuel pref
100
Aug
Jan
Jan
Aug
2%
41
30c
5%c
July
60
37%
34%
117"
1.15
8%
25
July
10
27
27
122
June
4
18%
235
2%
2%
2%
25
May
1.026
___*
*
Super Petroleum ord
13
4,745
2%
38%
Stop & Shop
5,398
25
3%
3%
45
25
23%
24%
*
100
20c
1.16
20c
1.25
_
...
12c
2.025
40
38
38%
53c
McKenzie Red Lake
36%
30% June
6.05 May
649„9<L0
16,085
15c 16%c
Oct
37%
3.50 June
98c
Jan
15c
Apr
80
Jan
4.90 June
75c
9
20
_
12%
Jan
Jan
3.12
86c
3
370
2,320
;
24%
Jan
Aug
Moneta-Porcupine
Aug
June
8%
July
7 %o
33
7%
15c
3,800
30
5,764
121
100
Rogers Majestic Corp Ltd
Shawinlgan
*
Feb
7c June
Mar
33c
80'
5,993
526
15
2
Robt Simpson pref
7.75
2.60
14,456
12%
122
15c
Aug
12c
21%
25
Mar
29c
Manitoba & Eastern
3%
2%c
5.70
29%c
2.35
M acLeod-Cockshutt
15
Jan
29c
Oct
Feb
36%
12c
1.38 May
2.35
16%
35
4
July
Jan
Aug
Minto Gold
Apr
Aug
20%
Mar
47c
5c
70c
12c
Oct
12%
Mar
60c
20,435
43,790
50,120
12,000
70,000
5,332
31,800
38,600
8,100
43,450
2,100
24,770
28
7
Jan
51%c
500
3%
4%
*
Preferred..
12c
60
21
23%
*
Tamblyn.
Thayerscom
12c
1.25
*
Standard Paving
Preferred
5.95
'12c
25
34
35%
5
Prarle Cities Oil
6.15
Lowery Petroleum
75
15
Star
Little Long Lac...
Oct
15
"~~3~%
Preferred
Oct
50
16%
67
100
Montreal Lt Ht & Pow Con
National Steel Car
8
Jan
32
-
Langleys
Mercury Mills pref
May
Macassa Mines
8%
80
_
.
4
36%
*
5%c
433,449
6%c 21,500
6.25
10,175
30
21
*
Int Metal Indust
32
29c
17c
380
16%
*
22c
i*
3,796
8
15
*
Humberstone
Lee Gold Mines
31%
*
Howard Smith
34%
83c
19c
Lebel Oro
48%
56c
5,522
24c 196,800
95c
19,200
54%c
High
Low
Shares
92%c
Lamaque-ContaotL
Lava Cap Gold
50
Price
55c
Lake Shore Mines
275
994
100
Range Since Jan. 1, 1936
for
Week
5%c
2,762
70
*
Preferred
Par
of Prices
Low
High
22c
21
9%
63
*
Bridge
Dom Tar & Chemical
North
Low
Week's Range
Sale
Week
Shares
Sales
Last
Range Since Jan. 1, 1936
for
Exchange—Mining Section
Friday
Sales
Friday
7.60
7.60
7.95
95c
1.10
3.15
38
15c May
Mar
85o June
3.25
Oct
5.20 June
50c
Jan
1.25 May
1.96 Sept
Jan
1.12
2c
July
4%o
Feb
3.95
Mar
7.60
July
7.25
Aug
12
95c
Oct
1.10
Sept
Sept
July
Jan
Premier Gold
3.15
3.24
8,205
8,250
12,250
1.80
Jan
Preston (new)
Prospectors Airways
1.30
1.32
1.45
21,650
21c
Mar
3.56
2.25
1.76
1.76
1.76
100
1.75
Oct
3.25
Jan
Sept
1.40
Mar
95c
Powell-Rouyn Gold M
F. O'HEARN & CO.
GRAIN
BONDS
STOCKS
11 KING ST. W.
WAverley 7881
I
65c
3.60
3.36
3.75
3,300
11,283
1.44
Jan
4.35
July
Red Lake-Gold Shore....
Reno Gold
1.73
1.59
2.15 133,245
50o
Jan
1.35
1.39
16,200
1.00
Mar
2.55
1.46
Sept
1.37
Roche-Long Lac
26%c
20c
35c 627,617
31c
7,446
5%c
Mar
76c
Aug
26% c Sept
39% c
Feb
Aug
3.45
Jan
Quebec Gold
OFFICES
MEMBERS
75p
Toronto
Cobalt
Montreal
Noranda
The Toronto Stock Exchange
Royalite Oil
30%c
27e
Ottawa
Sudbury
Winnipeg Grain Exchange
San Antonio
1.88
1.70
1.95
Hamilton
Kirkland Lake
Montreal Curb Market
85c
90c
Sarnia
North Bay
Canadian Commodity Exchange (Inc.)
Shawkey Gold
Sheep Creek
85c
95c
92c
Owen Sound
Bourlamaque
Chicago Board of Trade
Sherf itt-Gordon
1.65
1.63
Timmins
_50c
...
Siscoe Gold
4.35
4.40
...
1.60
97c
56,970
32,195
4,200
56c
Apr
Jan
1.75
26,040
1.00
4.45
15.865
1.18
56,825
Sladen Malartic
Toronto Stock
3
Oct.
to
Last
Sale
Stocks-
Par
Price
of Prices
High
Low
for
Range Since Jan. 1,1936
60c
66c
Low
16%c
23c
5.25
5.20
5.60
22c
•22c
28c
18%c
Sudbury Basin
Sudbury Contact."..""
High
Jan
Sept
1.30
Sept
43c June
Feb
Jan
75c
Aug
15c
Sept
38 %c
Feb
3.00
Jan
5.40
Sept
6o
Jan
34c
Sept
83c
Mar
2.50
Sept
2.25
Mar
3.50
July
27c
Oct
4.30
Mar
27c
29c
5.65
5.90
1.98
3.15'
July
18%c
27c
1.73
2.95
1.85
5.10
46,880
89,800
11,900
5.65
1.88
2.95
Oct
Jan
2.87
97c
8%o
Goldfields
Sullivan Consolidated
Sylvanite Gold
Texas-Canadian
*
11c
10c
12c
..1
8c
8c
9%c
Acme Gas & Oil
Afton Gold
52c
52c
40c
89%c
88c
1.02
Alexandria Gold
1
4c
4c
4%c
Algoma Mining
Anglo Huronian
*
*
8c
8c
9%c
6.00
5.50
6.10
Argosy Gold Mines
*
1.30
1.30
1.40
Arnt field
1
91c
91c
1.00
Ashley Gold
1
9c
8%c
10c
Astoria-Rouyn
1
7%c
7%c
8%c
A J ax
Oil & Gas
1
Aldermac Mines Ltd
21.534
36,650
10,150
35.535
19,900
64,000
2,626
13,491
4,400
9%o June
4c May
40c June
18 %o
Feb
88o May
70c
Feb
88c
Oct
1.07
Sept
1%C
3%c
Jan
10c
Aug
4.10
Jan
Jan
12 %o May
7.60 Aug
1.88
1.76
2.05
36,550
1.45
Sept
Toburn Gold
3.40
3.35
3.85
14,860
1.20
Jan
82c
80c
88c
20,112
20C
Towagamac
Exploration
.
Ventures
2.38
Waite-Amulet
Wayside Consolidated.50
9%c
White Eagle
2.32
2.40
1.60
1.60
1.75
9%c 10%c
4c
1.15 June
Mar
84,700
34,187
18,535
17,050
16,610
Tashota
Week
Shares
60c
75c
Sept
3%c
5%c 197,100
Teck-Hughes Gold
Sales
Week's Range
4%c
St. Anthony Gold..
compiled from official sales lists
Friday
1.09
4%C
Stadacona-Rouyn
Exchange—Mining Section
9, both inclusive,
1.10
South Tlblemont
Oct.
65c
Read-Authier
TORONTO
26,505
7,016
27,000
18,200
680 May
July
6.70
Apr
2.50
Oct
Jan
1.17
Aug
Jan
1.60
4.45
2.50
Feb
Sept
1.00
Jan
1.85
9o
Aug
20%c
Feb
3c
Jan
60
Sept
Jan
4c
3%c
6c
6c
6%c
9,100
3c
7.70
7.50
7.85
17.866
7.50
Oct
9.00
Feb
43c
43c
46c
61,200
38o
Mar
710
Jan
...
1.00
1.75
Sept
Wiltsey-Coghlan
Wright-Hargrea ves
65c
1.20
Aug
Ymir Yankee Girl
31c
July
7 %o
Oct
10c June
..1
5%c
7%c
Barry-Hollinger
1
5%c
5%c
6c
19,300
Apr
Apr
6%o May
Jan
2%C
Jan
5%C
3%c Mar
Base Metals
*
28c
27c
33c
18,266
14c June
Beattie Gold Mines.
*
4.25
1.84
Feb
1
1.30
1.30
1.49
14,005
23,795
1.20 June
Bidgooe Kirk
1.30
Oct
2.00
July
Big Missouri
Bobjo Mines
1
50c
50c
51c
25,700
50c
76c
Jan
.1
26%c
26%c
30c
13c
36 %c
Aug
*
9.00
8.50
9.00
79,300
4,364
1,420
5,503
Sept
Apr
5.55
Jan
9.00
Oct
Bagamac Rouyn..
Bralorne Mines
B R X Gold Mines
Buffalo Ankerite
1.25 —Li33
13%c
14c
9.00
9.50
4%c
4c
4%e
13c
13c
14c
50c
...1
'~9~20
*
14,750
45,100
26,600
Montreal Stock
11 %c
Feb
10c June
42c
See
Exchange
Page 2346
Sept
9c
Jan
25 %c
Mar
3.80
Jan
9.50
2o
Jan
Jan
18c
Canadian Government
13o May
6o
HANSON BROS
Oct
Municipal
INCORPORATED
1.45
1.35
15c
17c
53,350
15,240
6,775
8,150
5c
Jan
"L32
1.32
1.37
27,960
95 %c
Mar
1.50
Oct
1
1.76
1.76
1.90
2,300
1.15
Jan
2.10
Aug
Castle Trethewey
1
1.31
1.31
1.37
11,100
1.24
Jan
1.69
Jan
Central-Patricia
1
3.75
3.75
4.10
Mar
*
33%c
33 %c
42c
*
80c
80c
89c
Chromium Mining
*
1.71
1.70
1.99
Clericy Consolidated
*
Commonweath Petroleum *
7%c
6c
7c
21,095
57,721
6,536
21,778
28,325
2,500
2.41
Central Porcupine
Chemical Research
4%
Jan
10%
Coniagas
3.20
3.20
3.30
625
2.80
Jan
4.25" June
Last
Week's Range
1.75
1.75
1.90
3,015
1.75
Oct
2.75
Sale
of Prices
1.58
1.58
1.66
5,040
1.22 May
1.30
Buffalo Canadian....
Bunker Hill
Calgary & Edmonton
Calinont Oils
Canadian-Malar tic
Cariboo Gold
5
Coniaurum
Cons
Chlbougamau
1
7
6%
1.20
Darkwater Mines Ltd...
Dome Mines
Jan
1.60 June
4.95
Aug
69o
1.60
Feb
1.65
Sept
Sept
2.46
July
3c
Jan
Sparks St., Ottawa
14o May
Montreal Curb Market
Oct.
3
to
Oct.
9,
both inclusive, compiled from official sales lists
Feb
2.18 May
Stocks—
Par
7,950
2,005
1.10
Sept
42
Jan
61% June
7%c
3,975
4%C
Jan
9%o
Sept
1.17 307,105
1.37
35,160
53c
July
1.17
Oct.
82c
Aug
1.47
Sept
Belding-Corticelli Ltd.
Jan
10%
Sept
Belding-Cortic
1.01
99c
Eldorado..
1
1.32
1.30
Falconbridge.l
*
10%
Federal-Kirkland
1
Francoeur Gold Mines Ltd.
10
10%
9,080
6.90
1.40
Sales
Friday
Apr
56
Eastern Malartic Gold M.l
Price
Low
Asbestos Corp voting tr_.*
Bathurst Pr & Paper cl B.»
Beauharnois Power Corp.*
cum
73
62
5
4
3%
2%
5
pref 100
135
135
35
5c
6%c
3c
Jan
10c
Feb
Brit Amer Oil Co Ltd
*
1.05
1.35
95c
SeDt
2.22
Aug
Brit Col Packers
22c
35c
*
22c
Oct
40o
July
God's Lake...
83c
83c
75c
Mar
1.45
Jan
Can Nor Pow Ltd pref. 100
Canada Vinegars Ltd
*
10c
10c
500
9 %c
Oct
"""30c
30c
33c
4%c
Jan
23 %c
Feb
48c June
Can Dredge &
Dpck Ltd. *
Cndn Gen Invest Trust 100
1
9%c
9c
9%c
6c
Jan
26 %c
Feb
Can Int invest Trust Ltd. *
2
__1
13%c
3%o
Jan
24c
Aug
Cumulative preferred 100
56
40c June
Cndn Pow & P Invest Ltd*
12%c
17c
24,300
7,700
13,150
Granada Gold
1
28c
30c
9,359
Grandoro
*
8c
8%c
5,000
Greene Stabell
1
43c
60c
Grull Wihksne
1
Gunnar Gold
1
Too
1.00
1.13
Halcrow-Sway ze
1
4c
4c
4%C
Hard Rock
1
2.45
2.45
2.74
Harker Gold
1
16c
15%c
17 c
High wood Sarcee
;__*
Hollinger Consolidated...5
J
Goodfish Mining..
Graham-Bousquet
46c
10c
10c
12c
13%
13%
13%
1
32c
31c
38c
Howey Gold
1
68c
68c
74c
J M Consolidated
1
48c
46c
54c
137,100
1,500
62,800
10,500
31,570
48,650
2,000
8,305
33,400
33,275
37,713
Kirk Hudson Bay
1
1.07
1.07
1.15
3,150
Kirkland-Lake
J
56c
25,145
Homestead
Oil..,
Laguna Gold Mines
12%c 14%c
53c
83
53c
80
84
22,200
17c May
Jan
5%o
21c
Mar
15o
Aug
16c
Sept
(new)
23%
13
110%
22%
12%
110
23%
13
110%
6,246
346
37
3
Mar
97%
130
16%
8
107%
Apr
Jan
145
Sept
Jan
May
27%
160
37
Jan
1.25
195
10
314
1.00
Jan
Aug
49
•
Jan
July
9%
Feb
Feb
4.00
Mar
Feb
65
7% May
35
Apr
13
112%.
47
56
27%
Feb
May
50C
Oct
110
20
50
Oct
Sept
90
9%
2%
Oct
6%
4%
1.95 June
21
9%
Canadian Vlckers Ltd
*
5%
Feb
Jan
1.20 May
2c
Jan
10%o June
Catelli Food Products®._*
37c
Jan
3.63
July
Catelll Food Prod pref A.30
7c
Jan
26c
Sept
City Gas & Elec Corp Ltd*
1.05
12c
Sept
Commerical Alcohols Ltd *
90c
31c June
13%
Oct
17%
July
110
Jan
81c
May
Cum pref..
100
Canadian Wineries Ltd
10c June
1.25
Mar
...
Apr
6
Oct
35
39
315
11%
Jan
39
3
255
9%
793
2
425
2%
11%
1.00
1.05
350
1.00
13
July
3%
June
9%
Aug
Sept
15
Oct
Oct
Feb
Oct
May
3.00
Feb
1.35
Feb
75c
1.00
1,685
2%
2%
85
2
Jan
75c
75c
15
50c
Feb
50
Oct
12
Jan
10%
Oct
Dominion Eng Works
*
47
29o
Jan
80%c
Aug
Dominion
Stores Ltd
*
30c
Jan
1.75
July
Dom Tar & Chemical Ltd *
11%
9%
♦
1.50
*
July
Sept
3,281
12
1.00
94c May
6
2%
8%
Mar
88
5
.__*
David & Frere Ltee A
B
37
*
55 %c
Aug
High
73%
46
8c
41c May
^
Jan
20%
75c
55
Low
17%
July
86c
1,385
5,929
100
6c
..1
9,188
110
25c
Golconda Lead
73%
6%
4%
100
_
1.13
Goldale
High
Range Since Jan. 1, 1936
for
Week
Shares
Sept
Glenora Gold
17,000
86,125
180,050
90C
26,532
Industrial Bunds
330 Bay St., TiriBti
July
75c
56
July
33c
Public Utility and
1883
255 St. James St., Montreal
18c June
6%c
1
Explorers
7
73c
ESTABLISHED
52%
*
Dominion
1.27
1.50
Feb
No par value.
/ Flat price.
V
40%
9%
9
50
55c June
1,455
26%
Jan
11%
60
7%
July
10%
11,765
4%
Feb
4
1.25
Feb
Feb
Volume
Financial
143
Chronicle
2349
4?
Canadian Markets—Listed and Unlisted
Montreal
Last
Stocks (Concluded)
Dom Tar&Chem
pt 100
East Kootenay P cum pflOO
14
"24^
Voting trust ctfs
1.10
Int Paints (Can) Ltd A
Int Petroleum Co Ltd
Jan
69c
14,720
38c June
78c
Feb
9c
4,155
6He May
13 He
Feb
Home Oil
*
1.10
99c
1.15
32,785
13,855
Apr
1.43
Feb
22He
Jan
29Hc
Oct
Oct
30c
Feb
Hudson Bay
Kirkland Townsite
*
1.46
19c
19c
20c
2,600
14 He
Jan
31c May
10 %
Feb
Lake Maron
#
10Hc
10c
13c 391,650
3c
Jan
21c June
4c
3Hc
24 %
6
Apr
Malrobic Mines
Apr
Jan
39 %
Apr
Mandy Mines
Night Hawk
4
Jan
14H
Feb
50c
Jan
2.50 May
Nordon Corp
Oil Selections
June
13%
Feb
Osisko Lake
2H
Aug
5%
Feb
Parkhill.
1
12%
28He 30Hc
1
9
...1
*
4c
12c
Apr
Apr
2
Oct
Apr
Pawnee-Kirkland
2
Pend Oreille
lie
14c
4Hc
6c
13c
25c
29c
Jan
9%
Aug
Porcupine Crown
21,425
190
79
Sept
97
Oct
103
416
97 H
Mar
104
Sept
Oct
4%
Sarnia Bridge Co Ltd A__*
105
6
2 He
Jan
3,725
70c
July
4c
Jan
8,905
lc
Jan
13 He May
4c
Apr
9% 6 Sept
5HC
6 He
18,740
3c
3c
3Hc
20,000
19c
18c
22c
35,300
11
Apr
Wood-Kirkland
1
8c
7 He
8c
2,600
3%
Jan
103
July
2
Mar
8
Sept
Sept
1.00
3.00
11c June
i
1.20
Feb
15c
Mar
3%o Sept
7 He
Mar
2c
Jan
27c
Sept
4c
Jan
9c May
*
No par value.
Feb
Apr
28%
Sept
3%
Feb
312
26 %
325
17%
Apr
July
43 %
19
i
Feb
* Mm
July
1.75
7
Walker-Gooderh & Worts *
•
Oct
Jan
6,070
2.50
5%c
7c
1
1.50
United Securities Ltd.. 100
Walkerville Brewery Ltd.*
5 He
1
98
210
*
6%c
Ritchie Gold
1
10
Sept
11,300
Robb Montbray
Sudbury Mines
104
Jan
July
48c
55,400
Temiskaming
100
7c
18
Jan
18c May
4c
Jan
8%
July
82c
10
June
Aug
4c
10c 12Hc
He
Aug
4
130
10c
7
3 Ho
..........
June
725
Feb
July
6Hc May
26c
Apr
80c
1
...1
Jan
Jan
500
25c
7c
42c
Jan
12c
38,800
13c
lHc
lHc
10,700
5c
1
9
103
36,000
4,600
22,200
3c
*
5
Sarnia Bridge Co Ltd B._*
4HC
25c 26 He
26c
3 He
8
12%
72 He
23%
Aug
10M
Mar
4o
54c
7 He
Aug
262
High
Jan
8%c
2%
33%
5,720
Ho
Jan
70c
9,246
1,515
1,005
2,980
1
Sept
8
*
Thrift Stores Ltd
11,000
*
96
Sou Can Pac Ltd pref_.100
Standard Clay Products 100
4%c
Dalhousie Oil
20%
1.55
Low
2c
East Crest Oil
364
11%
Range Since Jan. HI936
Shares
High
2 He
5
Voting preferred
*
Page-Hersey Tubes Ltd-.*
Power of Can cum pref.100
Rogers-Majestic Ltd A
*
Low
Price
*
32,655
B
Mitchell & Co (Robt) Ltd *
Mtl Ref & Stor voting tr__*
Week
Cobalt Contact
5%
37
Inter Utlls Corp clA
*
Inter Utll Corp class B...1
Melchers Dlst Ltd A
*
for
of Prices
Apr
Oct
25 %
7
Week's Range
Mar
16
Jan
9
Par
'22%
*
*
Reliance Grain Co Ltd
Sept
2%
5,633
37,602
23,701
23
*
.'_*
Hydro-Electric Secur Corp*
Imperial Oil Ltd
*
Jan
99%
65c June
50
*
Home Oil Co Ltd
5
•
Stocks (Concluded)
High
Jan
50
83
200
Foreign Pow Sec Corp Ltd*
Fraser Cos Ltd
Jan. 1, 1936
Low
1,085
Last
Sale
Range Since
Sabres
97
cm
Sales
Friday
for
Week
of Prices
Low_
High
Price
Par
Exchange—M ining Curb Section
Sales
Week's Range
Sale
Toronto Stock
Market
Curb
Friday
43
Walker-Good & Worts pf_*
20
SECURITIES
CANADIAN
Oct
Government
Municipal
•
Corporation
•
Private wire connection between New York, Montreal and Toronto
Mines—
Afton Mines Ltd
5c
July
81c
Apr
95c
Sept
1.06
Sept
30c
Mar
59c
Sept
8c
8%c
Aldermac.
1
95c
95c
1.02
Beaufor Gold
1
45c
45c
52c
27%
21%
38c
36c
21%c
20Hc
27c
27,650
130,750
2c
Jan
31c
Aug
Sept
1.31
1.31
100
1.27
Jan
1.69
Jan
30c
1,900
11,345
18% c
Jan
1.77
1.10
Apr
2.30 May
56%
530
Jan
61
1
Big Missouri Mines Corp.l
49c
Brazil Gold & Diamond Ml
10c
Bulolo Gold Dredging Ltd 5
Bousquet Cad
1
Cartler-Malartlc G M Ltd 1
Castle-Trethewey M Ltd.l
Central Manitoba M Ltd.l
Cons Chin Gold Fields._.l
Dome Mines Ltd
*
East Malartic
1
Falconbridge Nickel M._*
Francoeur Gold Mines Ltd*
Greene Stabell Mines Ltd.l
J-M Consol G M Ltd
27c
1.62
1.60
53
53
1.00
75c
10%
9%
1.05
1.05
46c
46c
1
47c
46c
Lake Shore Mines Ltd__.l
55c
55c
Lamaque Contact G M__*
19c
17c
~~5%c
5%c
Lebel Oro Mines Ltd
Lee Gold Mines Ltd
22c
1
1
Mclntyre-Porcupine M..5
39
Mining Corp of Can Ltd..*
Montague
1
2.40
1.00
1.00
O'Brien Gold Mines Ltd__l
Pamour Porcupine M Ltd*
6.50
Parkbill Gold Mines Ltd__l
Perron Gold Mines Ltd...l
"25c
25c
1.63
1.63
5.90
3.30
3,000
4,975
51c
48,300
8,850
%c
Oct
13c
4,500
10c
July
1,333
27%
29
40C
49
Sept
35o Sept
43
48o
58c
July
1.16
10.75
10c
July
2.24
Jan
93c
Aug
Aug
81c
28 %c
Jan
55 %c
Sept
6c
Jan
46 He
Jan
29c
Apr
14c
Aug
39
Oct
46H
2.70
Sept
95c
Aug
2.05
Sept
35c
Jan
7.00
July
3.30
Oct
5.00 June
18c June
46 He
1.12
Jan
1.95
Sept
Sept
Mar
7.55
July
7.65
8.00
7.40
Aug
1.180
Jan
66c
66c
65c
Sept
3.60
3.35
3.80
1.43
Jan
4.40
85c
93c
July
1.16
4.35
4.35
4.55
1.14
1.10
1.19
1,450
2,000
13,100
23,800
11,265
73,045
46,800
1,600
105,160
Shawkey..
Siscoe Gold Mines Ltd...l
Sladen Mai
1
Sullivan Cons Mines Ltd.l
1.90
1.73
2.04
Teck-Hughes G M Ltd___l
5.65
5.65
6.00
95c
90c
1.05
Thompson Cad
1
Towagmac Explor Co Ltd 1
82c
78c
90c
2.35
Ventures Ltd..
2.32
2.40
Wayside Con G M Ltd.50c
10c
10c
10Kc
White Eagle Silver Mines *
4c
3%c
4c
W right-H argrea ves
Unlisted Mines—
Arao M tnes
7.55
7.95
3,400
2,250
7,600
7,000
3,110
82c
2.88
Mar
42 He
Mar
83c
Mar
4.30
Mar
1.40 May
July
July
5.00 Sept
1.30 Sept
2.47 Sept
6.65 July
37 %o May
1.50
24c May
Jan
1.15
Aug
Aug
2.50
Feb
1.00
21c
9%c June
Feb
3%o Mar
7.65
Mar
Massey-Harris Co 5s.
1947
McColl Frontenac Oil 6s '49
Minn & Ont Paper 68.1945
107
73
75
90
90 H
108
,
-
102
1949
__
Canadian. Vickers Co 6s '47
Cedar Rapids M & P 5s '53
Consol Pap Corp 5Hs-1961
6Hs-1945
90 H
Certificates of deposit.
91H
84 H
99
100
1949
Fraser Co 6s...Jan
1
74
102
104
/65H
Int Pr & Pap of Nfld 5s '68
Lake St John Pr & Pap Co
100 H 101
105
6c
1.35
Jan
Mar
2.43
Mar
4.75
July
4c June
10%c
Jan
3.78
4.10
Duparquet Mining
l
5%c
5c
5%c
29,850
Eldorado Gold Mines
1
1.30
1.30
1.40
8,550
800
Aug
Howey Gold Mines
1
71c
75H c
800
25c
Feb
3.78
Kirkland Lake Gold Mln.l
Macassa Mines Ltd
l
Feb
1.45
Sept
93c Sept
57c
200
4.25
4.60
10,325
3.18
Jan
5.00
July
1.80
1.91
575
1.64
Aug
3.40
—In
106
50 H
77 H
..
.
106
103
74
Power Corp of Can 4Hs'59
5s
.Dec
1 1957
Provincial Pap Ltd 5%s *47
102
-
--
107
102
77
99
98
103 H
102 %
102
104
104 H
103H 103 %
103 H 104
104
106
107
104 H 105 H
112
_
103
96
Feb
1 1942
/86
113
114
98
85
86
89 H
87
1 1947
review
Stock
43 Ho May
93c May
1
~1~63
1.63
1.75
6,400
1.00
1.90
July
Stadaconna-Rouyn Mines
*
60% c
60Hc
66c
Jan
77c
Aug
1
3.00
3.00
3.10
58,135
1,075
18HO
Sylvanite Gold Ltd
2.38
Mar
3.55
July
Unlisted Stocks—
Abitibi Pow & Paper Co
*
3%
1.30 May
6% June
4H
90H
current
the
NOTI C E S
——
analysis, Horblower & "Weeks, 40 Wall St., New York,
possibilities of 20 low-priced stocks listed
Exchange.
A
well-diversified group
utilities,
motors, /maotor
manufacturing and merchandising
on
of industries
steel,
accessories,
the
is
New
oil
and
other
concerns.
—Homer B. Hand, formerly of Fisher, Hand & Co.; Conrad W.
Oct
York
represented,
Rapp.
Oct
23%
22%
*a
including rails,
Jan
55c
4.45
San Antonio Gd M I,td.__l
105
Apr
2o
98c
10,100
1,500
1,500
1
51H
106
CURRENT
5c
1.33
—
Cndn Malartic Gold
Central Patricia Gold.._.l
91
107 H
51
77 H
..
67
Feb
6Hs
6Hs
90
H
107
Nova Scotia L & P 5s. 1958
104
Gt Lakes Pap Co 1st 6s '50
79 ~
102 H 103
89
91
Quebec Power 5s
1968
Saguenay Power 4HS-1966
Shawlnigan W & P 4%c '67
Simpsons Ltd 6s
1949
76
1950
Gatineau Power 5s
1956
General Steelwares 6s. 1952
88
78'
Ottawa Valley Pow 5%s '70
62
83
East Kootenay Pow 7s 1942
90
m
Ottawa Lt Ht & Pr 5s. 1957
Ottawa Traction 5Hs.1955
U2H 113
Donnaconna Paper Co—
3 s 1956
Eastern Dairies 6s
97 H
Ask
■89.
50
1939
Northwestern Pow 6s. 1960
105 H
Dom Gas & Elec
value) 3s
New Brunswick Pr 5s. 1937
103
f6l%
1940
96 H
96 H
Dominion Coal 5s
par
Montreal Tramway 5s 1941
104 H 105
Can Lt & Pow Co 5s
96
.
Montreal Island Pr 5%s '57
Montreal L H & P ($50
_
109
Canadian Inter Pap 6s '49
Can North Power 5s.. 1953
Feb
11 He
1.42
2%s to '38—5Hs to '49
106
110
5%c Sept
8.90
49
105
Jan
Apr
_
106
60c May
1.24
_
114H 115
Mar
3c
MacLaren-Que Pr 5Hs '61
Manitoba Power 5HS-1951
Maple Leaf Milling—
96
48 H
July
13c
Bid
68
102
WW
Utility Bonds
As*
95
Aug
23c
85c
Read-Authier Mine Ltd__l
Bid
f67%
Sept
3.95
6
Industrial and Public
Oct
Jan
HAnover 2-6363
•
NY 1-208
« W W W W W W W V W W V V W W W W «WL
July
52c
New York
•
Bell System Tele.
June
850
6
30 Broad Street
Jan
Jan
6.60
Pickle Crow G M Ltd
1
Pioneer Gold Mines of B CI
Quebec Gold Mining Corpl
Royal Securities Corporation
Jan
40c
6.90
1.16
149,350
10%
2,460
1.35
31,145
50Hc (35,230
56c '27,100
56 %c
1,653
24c
37,700
28c
19,577
7c
29,600
350
39%
2.50
1,400
1.05
5,600
6.75
44,915
3.55
1,700
30c
20,950
.1.75
2,800
75c
37
Sherritt-Gordon Mines..
.
Jan
formerly manager of the New York office of Allan J. Henry & Co. of Wil¬
mington, Del., and Homer P. Hand, also formerly with Fisher, Hand & Co.,
have formed the firm of Hand, Rapp & Co., with offices at 2 Wall St., New
York, to conduct
Cum 6% pref
.100
Cert of dep 6% pref.100
97,815
12,466
1,400
22
21
Atlantic Sug Ref pref. .100
Brew & Distillers of Van..
Brewing Corp of Can
200
"~85c
3,100
5,903
1,270
Consolidated Paper Ltd..*
Donnaconna/Paper A
*
*
General Steel Wares pf 100
Int Paints (Can) Ltd pref30
Loblaw Groceterias Ltd A*
Massey-Harris Co Ltdpf 100
McLaren Paper
*
McColl-Fronten Oil pref 100
Price Bros Co Ltd
Preferred.
100
100
Royalite Oil Ltd
..*
Oct
1.40
unlisted
Aug
4H
Feb
Sept
18 %
Mar
57
Apr
61H
Feb
30%
90%
Apr
35
116
Feb
15c
925
7%
15%
Sept
Apr
67,722
26,090
3,915
3,179
1,198
"25~"
70
550
18%
45
"Hi"
1,110
1,695
19%
40
*13^
21,532
4,585
4,065
66
31%
Western Can Flour M Ltd*
Weston Ltd
*
325
100
60o
Jan
20%
8%
Oct
4%
2%
18%
12 H
Oct
Jan
12 H
Oct
July
28%
68 H
18H
Feb
45
Jan
June
14%
Aug
Oct
Oct
Jan
22
Oct
22% Sept
40
Mar
19
15c Sept
Jan
96%
2% May
22
S3 convertible preferred stock.
—Bertrand W.
Oct
Apr
2
May
Oct
19Hc
104H
Oct.
i
offices at 29
Sale
Churchill Mining
Coast Copper
the formation of
of Estabrook &
Co., 40 Wall St., New York,
selected list of public utility, railroad and miscellaneous bonds
yielding from 4%% to 5%%.
—Hewitt, Ladin & Co., 74 Trinity Place, New York, have prepared an
analysis of the Wickwire Spencer Steel Co. with special reference to the
new, when issued, stock,
—Colyer, Robinson & Co., Inc., 1180 Raymond Blvd., Newark, N. J.,
Oct
71
Oct
has prepared a summary of available actual New Jersey municipal bonds
26%
Apr
39 H
Feb
8%
13%
Oct
9%
Oct
Apr
19 H
Oct
offered
as
of Oct. 1, 1936.
—Pask &
containing
S.
a
Walbridge, 1 Wall St., New York,
distributing
are
a
circular
study of Chicago, Milwaukee, St. Paul & Pacific RR. Co.
Clark
&
Co.,
Inc.,
announces
the removal of their offices to
the Cutler Bldg., 42 East Ave., Rochester, N. Y.
«
—Allen & Co., 20 Broad St., New York, have prepared for distribution
an
Last
Brett Trethewey
Central Manitoba
a
announce
general investment business with
Broadway, New York..
—The current "Review"
contains
a
.
Sales
Friday
Stocks—
Turnbull
Jan
9, both inclusive, compiled from official sales lists
■
Hall and John J.
Hall & Turnbull for the transaction of
16
Toronto Stock Exchange—Mining Curb Section
to
associated
—Gearhart & Lichtenstein, 99 Wall St., New York, have prepared a
brief study on Amalgamated Leather Co. with special reference to the new
—H.
Oct. 3
now
Exchange, in charge of their
department.
Feb
Jan
25
11
securities
Jan
1.75
700
35
.*
Ford Motor of Can a
70c
Feb
106
11
115%
Claude Neon Gen Ad Ltd. *
Consol Bakeries of Can
*
Donnaconna Paper B
Oct
municipal bond business.
with Stout & Co., members New York Stock
360
2.50
12%
60%
Canada & Dominion
Sug. *
Canada Malting Co Ltd..*
Canada Wire & Cable pflOO
6%
104
a
—Franklyn H. Peper, formerly of Otis, Peper & Co., is
Oct
1,250
*
*
Preferred
Jan
Par
Price
l
ll'c
...1
25 He
1
__5
"Too
Week's Range
of Prices
High
Low
11c
12c
25c 31 He
4o
4Hc
3.00
3.00
for
Range Since Jan. 1 1936
Week
Shares
24,900
59,150
40,000
100
analysis of National Casualty Co. of Detroit.
—McAlister, Smith & Pate, Inc. have opened
N. O., with Howard O. Traywick
Low
2c
High
Jan
14Ho
Jan
Jan
2.25 May
67o
11 Ho
3 Ho
July
July
9%c May
4.50
Feb
—James S.
New Orleans
Beasley Jr. is
as
now
as
a
branch office at Charlotte,
manager.
associated with Edward Jones & Co. of
Louisiana Representative.
—Frank E. Bliss, of Gilchrist, Bliss & Co., has been elected to member¬
ship in the Chicago Board of Trade.
v
Quotations
New York Trust
City Bonds
Bid
Ask
Bid
a4%s
a4%s
a4%s
a4%s
(i4 348
fl4%s
a4%s
a4%s
a434s
105 34
a4s
May 11957
11334 114%
a4s
Nov
11958
o4s
May
1195r
a4s
May 11977
11334 114
a4s
Oct
11980
114
11434
a4%S Sept 11960
a4%s Mar 1 1962
a4%s Mar 1 1964
117
11734
117
11734
May 1 & Nov 1 1957
Mar 1 1963
a43|s June 1 1965..
a4%s July 1 1967
a4.%s Dec 15 1971a4%s Dec 1 1979
....
117
11734
a6s
108 34
107% 107%
108 34 109%
113% 114%
113% 114%
...
...
June 1 1974
Feb 15 1976
Jan
1 1977
Nov 15 1978
Mar 11981
Jan
World
b 2.40
less
1
b 2.50
less
1
115
Empire
493
500
Fulton
70
72
Guaranty
12
Irving
120
11914
120%
ser
B
ser
4%s
ser B
Manufacturers
57
20
.
49 34
51
5134
66
90
New York
14
16
Title Guarantee & Tr. ..20
12134 12234
Continental
18%
19%
Underwriters
100
12234 123 34
10154 101%
Corn Exch Bk & Tr
66%
67%
United States
Bank & Tr. 10
20
Preferred.
53
100 1995
25
142
145
10%
9%
90
80
2045
Chicago Bank Stocks
Trust
100
210
230
158
128%
289
294
420
435
100
840
870
162
Northern Trust Co
Continental Illinois Bank &
Improvement—
1958 to *67
As*
..100
Harris Trust & Savings. 100
First National
American National Bank &
Bonus—
Bid
Par
Ask
Bid
Par
Ask
128%
11534
117
4%s
33 1-3
Trust
Hartford
As*
110
—
QUOTED
Members New York Stock Exchange
E
ser
SOLD
PUTNAM & CO.
ser D
M&S b 0.75 to2.40%
4%s
—
107
M&S 10834
Holland Tunnel
Insurance Stocks
BOUGHT
1937-1941.
1937-1941.
M&S 60.50
1942-1960—.
112% 113%
1940-53.M&N
1
64
Inland Terminal
.
.1634
1750
54
84
106
1937-50..J&D 60.25%
1534
25
25
Bayonne Bridge 4s series C
1939-53
J&J 3 106
George Washington Bridge
10
100 1700
Lawyers
50
Bid
10634
357
Colonial Trust
Authority Bonds
10434 105
137
2734
352
Clinton Trust
107 % 108%
3%s '65
3%s '76
134
100
265
Chemical Bank & Trust. 10
1942-1960
Gen & ref 3d
...20
Ask
2634
250
Kings County
124
Bid
-10
11954 12034
120
120%
Ask
Port of New York—
119
Central Hanover
Barge C T 4%s Jan 11945
Bid
1936
11934
Barge C T 4s Jan '42 to '46
Port of New York
9%
8%
7
...100
Brooklyn
119
Canal Imp 4s J&J'60 to *67
:
133
10
20
Bronx County
118%
11934
■4s Mar & Sept
135%
Gen & ref 4s Mar 1 1975.
\
118
10
Bank of Sicllly
117 34 11834
251937
War
Highway
5s Jan & Mar 1946 to *71 b 2.80
135%
Bankers
4%s April 1940 to 1949. 61.90
Canal & Highway—
Gen & ref 2d ser
105
Bk of New York & Tr..l00
Bid
3s 1981
Highway Imp 4%s Sept *63
Canal Imp 4%s Jan 1964..
Can & Imp High 4%s 1965
Banca Comm Italiana.100
Ask
3s 1974
Par
11734
Bonds
New York State
Bid
10,
Companies
Ask
Bid
Par
117% "7%
117M 118
117% 118J4
105
108
As*
117
Apr 1 1966
Apr 15 1972
a3%sjuly 11975
a3%s May 11954
a3%8 Nov 11954
a3%sMar 1 1960
a3%sJan 15 1976.,—
a3^s July 1 1975
108% 108%
108% 108%
Oct.
Over-the-Counter Securities—Friday Oct. 9
on
New York
4s
Chronicle
Financial
2350
6
to 1.85
M&S 11334
11434
CENTRAL
HARTFORD
ROW
A. T. T. Teletype
5-0151
Tel.
Hartford 35
—
United States insular Bonds
Bid
phlllippine Government—
4s 1946
1952..
April 1955
6s
Feb
63.50
10134
Honolulu 5s
107
U S Panama 3s June 11961
106
1959
5s
Bid
Ask
100
106
.
434s Oct
434s July
107
434s July 1958
6
3.00
3.75
3.25
2.75
Par
113
113%
113% 114
Bid
105
38%
Home Fire Security
10
5%
10
30%
32%
Homestead
10
Importers & Exporters
......25
86
88
10
24
2534
Ins Co of North Amer..10
71%
36%
39%
Knickerbocker
5
15%
18%
5
11
14
Lincoln Fire
5
4 34
14%
Maryland Casualty
1
7%
7934
82 34
Mass Bonding &
10
29
3034
25
6134
6334
Merch & Mfrs Fire New'k5
10
34
36
National
234
8
9
National
101®, 6 101%
1025,6 10234
10734 107%
Automobile
American Surety..
Baltimore Amer
&
Shippers....25
9734 10134
National
rnion Fire
12
14
19%
21%
68
2
23
New Amst erdam Cas
26%
25%
27%
New Brunswick Fire
20
42
43 34
20
44
47
21
12.50
93
96
26%
27%
New Hampshire Fire... 10
39
New Jersey
33
New York Fire
234
Employers Re-Insurance 10
4
5
45
47
5
Excess.
10
Federal..
Fidelity & Dep of Md__.20
634
4434
132
8
4734
137
Northern
North River
Northwestern
2.50
National.25
24
12034 125
126
Pacific Fire
25
121
Phoenix
io
82
86
5
20
22
36
38
25%
26%
10
30
33
5
13
1434
Fire Assn of PhlladelphlalO
7834
80
Preferred Accident
Firemen's of Newark
MUNICIPAL BOND DEALERS
17
3434
..2
27%
31
Eagle lire
<$mc.
.
16
32 34
10
37
Continental Casualty
Bought— Sold—Quoted
9%
11%
13334 139
2
5
City of New York....__10
10
61
66
iberty
National
638
21
Connecticut Gen Life
MUNICIPAL BONDS
57
10
ire
628
10
1134
13
Fireman's Fd of San Fran25
St., Chicago
Joint Stock
Bid'
Atlanta 5s
State 0540
Land
100
96
Burlington 5s
-
-
Dallas 5s
Mississippi-Tennessee 5s
8334
__
89
100
_
.
.
.
24
26
St Paul Fire & Marine—25
40%
42%
Seaboard Fire & Marine..5
1-9%
21%
Seaboard
62
64
Surety.......10 —32—
36
Security New Haven
10
Southern Fire
1
/GO
5
81
10
24
26
2834
Springfield Fire & Mar..25
130
133
8
11
Stuyvesant
2334
25
Sun Life Assurance—
10
20
2734
34%
36%
100
«...
92
94
Pac Coast of San Fran 5s..
100
97
98
Pennsylvania 5s..
26%
10
74
77
80
100
Fletcher
10034
27%
55%
57%
58
61
34%
36%
U S Guarantee
Hartford Steam Boiler. .10
26%
U S Fire
72
Westchester Fire..
10
100
First Trust of Chicago 5s..
530
---
First Texas of Houston 5s.
525
520
Co..2
U S Fidelity & Guar
24%
Hartford Fire
Pac Coast of Salt Lake 5s._
-
4
10
...10
Harmonia
7%
495
Travelers...
Hanover Fire
6%
—5
-100
100
—
10
...
88
3734
7634
Hamilton Fire
65
86
1234
34
27
15
Halifax Fire—
99% 10034
First of Montgomery 5s.._
First of New Orleans 5s
934
5
preferred
Great American
9934
100
208 34 213
Great Amer Indemnity... 1
2d
Pacific Coast of Los Ang 5s
~
Rossla
-
100
9#34
Pacific Coast of Portland 5s
-
22
Globe & Republic
98%
97%
99% 100
Oregon-Washington 5s.
First of Fort Wayne 5s
Rochester American
Globe & Rutgers Fire—15
Ohio-Pennsylvania 5s
85
86
First Carollnas 5s
94
North Carolina 5s_
100
Denver 5s
Ask
100
Maryland-Virginia 5s
New York 5s......
8%
96
31%
-*.—5
Georgia Home..
—10
Glens Falls Fire.........5
100
Louisville 5s__—_
94
29%
2034
5
General Alliance
90
Lincoln 5s:".
-
99
/7%
Chicago 5s
Bonds
Bid
100
California 5s
Bank
As*
99% 100%
Atlantic 5s
Teletype CGO. 437
Providence-Washington. 10
Republic (Dallas)
10
Franklin Fire
135 So. La Salle
7%
61
10
Casualty
—5
Carolina
534
58
Ins..1234
Merch Fire Assur com.234
......100
......
Camden Fire
JOINT STOCK LAND BANK BONDS & STOCKS
6
5
13%
10
American Reserve
Boston
20
Re-insurance. 10
American
1055,6
Fire...
Newark...234
American of
Ask
103 34 10734
634
2134
8%
-73%
American Alliance
Bankers
W
Ask
36%
52%
American Home
1938
M&N
4%s 1957 opt 1937...J&J
4%s 1957 opt. 1937..M&N
4%s 1958 opt 1938..M&N
Bid
5
50%
American Equitable
4s 1958 opt
J&J
3s 1956 opt 1946
J&J
3s 1956 opt 1946
M&N
3%s 1955 opt 1945
M&N
4s 1946 opt 1944
J&J
4S 1957 opt 1937
M&N.
Par
Home
10
Agricultural
Federal Land Bank Bonds
3s 1955 opt 1945
Companies
Ask
Aetna Life
3.00
Conversion 3s 1947
Bid
Aetna Fire
Aetna Casualty & Surety 10
3.50
6
U S conversion 3s 1946
11334 115
534s Aug
1941
434s Oct 1956
6
5s July 1948
110
109
Hawaii
Insurance
3.00
Govt of Puerto Rico—
101% 10334
...
1952
Ask
119% 120%
3%s
76
Fremont 5s
Greenbrier 5s
100
Greensboro 5s
-
-
100
-
-
101
/36
39
100
Southwest 5s
-
'
.
19934
100
St Louis 5s
Phoenix 5s
...
-
108
Potomac 58
San Antonio 5s
-
78
Illinois Midwest 5s
75
78
Southern Minnesota 5s_...
7134
/21
Illinois of Montlcello 5s
97
99
Tennessee 5s
100
-
.
•
2.50
Surety Guaranteed Mortgage Bonds and Debentures
--
73
24
Bid
Bid
Ask
1953
1954
Arundel Bond Corp 2-5s '53
SO
Arundel Deb Corp 2-6s '53
55
52
1954
Series A 2-6s
80
All series 2-5s
Asjc
Nat Union Mtge Corp—
Allied Mtge Cos Inc—
'
80
"
4%s___
97
Kentucky of Lexington...
100
Iowa of Sioux City
94
La Fayette 5s
-
-
9834
Union of Detroit 5s
-
9934
100
Virginia-Carolina 5s
...
96
9834
Virginian 5s
99 34
1953
Land
Par
22
Bank Stocks
Par
Ask
100
Atlanta
Bid
30
Atlantic
100
36
100
62
..100
20
Pennsylvania
100
13
18
100
27
36
100
46
53
20c
50c
45
55
North Carolina
,
3
Denver
100
100
65
70
First Carolinas
100
3
6
Virginia
100
1
3
Virginia-Carolina
.
4
24
Des Moines
Fremont
2
San Antonio
66
134
100
Ask
Potomac
41
Dallas
Lincoln
5
100
52
Cont'l Inv Bd Corp 2-5s '53
Bid
Bond
Contl InvDeb Corp 2-6s'53
44
54
...
77
1953
Corp—
1953
Potomac Cons Deb
.
45
43
45
1953
43
45
Deben¬
ture Corp 2-6s
1953
Potomac
Realty
Atlantic
Debenture Corp 2-6s '53
43
45
43 34
36
45 34
40
Bid
.4s*
2-6s '53
Potomac Deb Corp
Potomac Franklin Deb Co
Empire Properties Corp...
2-3s
1945
46
49
Interstate Deb Corp 2-5s'55
36
39
Mortgage Bond Co of Md
Inc 2-5s
1953
2-6s_
Potomac Maryland
80
*» — •»
part ctfs
Nat Bondholders
(Central Funding series)
Nat Cons Bd Corp 2-5s '53
/34
2-6s_1953
43
Nat Deben Corp
36
76
Realty
45
Bond &
deb 2-6s
Mortgage
1953
Unified Deben Corp 5s '55
Federal Intermediate Credit Bank
Bid
F I C 1343...Oct
15
Ffl C 134s—Nov 16
F'T C
F I C
134s...Dec 15
134s—Jan 15
Bid
Par
Par
Bank of Manhattan Co. 10
Bank of Yorktown—66 2 3
s*
131
New York Mutual Tel. 100
128
131
N'west Bell Tel
Canada.. 100
150
152
Pac
121
124
Peninsular Telephone com*
Preferred
22
-
25
Franklin Telegraph
Sou New Engl Telep
153% 155%
Gen Tel Allied Corp $6 pf.
10034 10234
S'western Bell Tel
124
Tr i States Tel & Tel—
51
Penn
45
Peoples National
Public National
Fifth Avenue
985
1010
First National of N Y—100 2085
2125
,.25
So & Atl Telegraph
63
24 34
112
16 34
197
Kingsboro National... 100
Roch Telep $6.50 1st pf 100
30
191
60
50
100
Commercial National.. 100
34
46
21
15
50
100
Cuban Telep 7% pref.. 100
100
Preferred A
95
43
Flatbush National
Ask
91
19
23%
11034 11234
25
49
100
Bid
89
25
11534 118
100
Merchants Bank
1234
City (National)..
Cincin & Sub Bell Telep. 50
pf 634 % 100
& Atl Telegraph
25
National Bronx Bank...50
65
..13.55
Chase
Par
Ask
128
100
Am DlstTeleg
National Safety Bank.. 1234
34 34
National—50
Bensonhurst
Bid
(N J) com.*
Bell Telep of Pa pref—100
Par
Ask
mm
Telephone and Telegraph Stocks
York Bank Stocks
Bid
•
Ask
1937 6 .35%
1937 6 .40%
FIC 134s. —Apr 15 1937 6 .45%
F I C 134s—July 15 1937 6 .45%
FIC 134s—-Sept 15 1937 6.55%
FIC 134s... Feb 15
FIC 134s—Marl5
Bell Telep of
New
7034
Debentures
Ask
1936 6.25%
1936 6 .25%
1936 6.25%
1937 6 .25%
,
43
2-6S—
7734
(all
Corp
Issues) 2-5s
Associated Mtge Cos Inc—
Debenture 2-6s
Joint Stock
Series B 2-5s
Potomac
.
.
Emp & Bay State Tel.. 100
100
44
49
..10
11
Int Ocean Telegraph... 100
10434 107 34
50
64
Lincoln Tel & Telegraph.*
115
..25
50
52"
Mtn States Tel & Tel. .100
Sterling Nat Bank & Tr.25
37%
38%
New
149 34
129 34 131
Trade Bank
30
38
Exchar>ge
1234
12 34
England Tel & Tel 100
146
-
For
Footnote
see
page
2194
100
pref. 100
Preferred
Wisconsin Telep 7 %
10
11
pf. 100
115
12534
11%
117
Volume
Financial
143
Quotations
2351-
Chronicle
Over-the-Counter Securities—Friday.Oct. 9—Continued
on
DEFAULTED
Railroad Securities
Guaranteed Railroad Stocks
Offerings Wanted
Oosepb Walkers Sons
DUNNE&CO.
Members New York Stock Exchange
/
120 Broadway
Members New York Security Dealers Ass'-
Dealers in
Tel. REctor
2-6600
STOCKS
^»incel855
BONDS
RAILROAD
Bought
Guaranteed Railroad Stocks
—
Sold
—
Quoted
Earnings and Special Studies
(Guarantor in Parenthesis)
John
Dividend
in Dollars
Bid
Asked
104
-100
6.00
-.100
10.50
175
180
-.100
6.00
108
2.00
43
8.75
150
150
155
57
60
4.00
100
101
5.00
101 H
98
103 H
Co.
Tor\Security Dealers Association
155
8.50
3.00
Request
112
...60
(New York Central)
..100
Boston & Albany (New York Central)
100
Boston & Providence (New Haven).
Canada Southern (New York Central)
-.100
Carolina Clinchfield & Ohio (L & N-A C L) 4%_. ..100
Common 5% stamped
..100
Chicago Cleve CInn & St Louis pref (N Y Central) 100
Cleveland & Pittsburgh (Pennsylvania)
on
Sloane &
E.
Members New
Alabama & Vlckshurg (Illinois
JOhn 4-1360
20 Pine Street, New York
GUARANTEED
NEW YORK
Central)
Albany & Susquehana (Delaware & Hudson)
Allegheny & Western (Buff Roch & Pitts)
...
Beech Creek
.
101
5.00
3.50
Betterman stock
52
50
2.00
48
50
5.50
90
93
10.00
190
195
4.00
75
77
50.00
950
1100
.
—50
Morris & Essex (Del Lack & Western)—.
3.875
68
70
5.00
95
98
Northern
4.00
100
102
22
24
65
70
(Pennsylvania)
50
.
100
Old Colony (N Y N H &
Hartford)
Oswego & Syracuse (Del Lack & Western)
Pittsburgh Bessemer & Lake Erie (U S Steel)
.
.60
4.50
50
1.50
3.00
79
83
Pittsburgh Fort Wayne & Chicago (Pennsylvania) -100
7.00
171
176
7.00
185
188
Preferred
Preferred
——
;
...
100
,
44
41
..100
6.90
102.
105
r-4 o O
6.00
150
154
3.00
75
77
3.00
150
154
10.00
256
259
6.00
91
94
-100
5.00
100
Vicksburg Shreveport & Pacific (Illinois Central). -.100
5.00
Louis Bridge 1st
pref (Terminal RR)...
1
»
Second preferred
Tunnel RR St Louis (Terminal RR)
United New Jersey RR & Canal
Utica Chenango & Susquehanna
(Pennsylvania).. ..100
100
(D L <fe W)
Valley (Delaware Lackawanna & Western)
5.00
Preferred
-
86 H
„
87 H
-
«.
m
«
-
-
Asked
80
-
Western)
50
3-50
51
54
50
3.00
68
70
99
101
...
106^
107 H
67 H
....
69 H
85
m.
86 H
87
95
103
91
68
ioiH
102
99>|
100
70%
72
101
90
101 H
104 H
...
105%
41
/34
105
105%
78
79%
93 X
55
53
Minneapolis St Paul & Sault Ste Marie 2d 4s, 1949
Montgomery & Erie 1st 5s, 1956..
New York Chicago & St Louis 4s, 1946
New York & Hoboken Ferry general 5s, 1946
Portland RR 1st 3%s, 1951
Consolidated 5s, 1945—
96
103%
104%
78 H
80%
80%
79%
96 H
97%
94%
93 H
93
....
Shreveport Bridge & Terminal 1st 5s, 1955
M.
71 H
93
Mi
90
Somerset Ry 1st ref 4s, 1955
Southern Illinois & Missouri Bridge 1st 4s, 1951
Toledo Terminal RR 4Hs,
Union Pacific
73%
111
1957
4Ha, 1966
Toronto Hamilton & Buffalo
Quotations-Appraisals Upon Request
—
-
88 %
Rock Island Frisco Terminal 4%s, 1957.-
EQUIPMENT TRUST CERTIFICATES
m
89
/6o
........
i
81%
98 H
.....
St Clair Madison & St Louis 1st 4s, 1951
82
79 H
—
—
West Jersey & Sea Shore (Pennsylvania)
Warren RR of N J (Del Lack &
Cantbn & Youngstown 5%s,1945
6s, 1945.
Augusta Union Station 1st 4s, 1953
i.—_
Birmingham Terminal 1st 4s, 1957.
Boston & Albany 1st 4Hb, April 1, 1943.
Boston & Maine 3s, 1950
Prior lien 4s, 1942
Prior lien 4%s, 1944
Convertible 5s, 1940-45
Buffalo Creek 1st ref 5s, 1961
Ghateaugay Ore <fe Iron 1st ref 4s, 1942
Choctaw & Memphis 1st 5s, 1952
Cincinnati Indianapolis & Western 1st 5s, 1965..
Cleveland Terminal & Valley 1st 4s, 1995
Georgia Southern & Florida 1st 5s, 1945
Goshen & Deckertown 1st 5 Ha, 1978..
Hoboken Ferry 1st 5s, 1946.
Kanawha & West Virginia 1st 5s, 1955
Kansas Oklahoma & Gulf 1st 5s, 1978.;
Little'Rock & Hot Springs Western 1st 4s, 1939.
Macon Terminal 1st 5s,1965...
Maryland & Pennsylvania 1st 4s, 1951
Meridian Terminal 1st 4s, 1955
;
Akron
-
Rensselaer & Saratoga (Delaware & Hudson)
St.
Bonds
—
New York Lackawanna & Western (D L & W).. -.100
Central
Bell System Teletype NY 1-684
Bid
90
...25
•
J*
102
88
2.00
HAnover 2-2455
•
Railroad
-100
(N Y Central)
100
Georgia RR & Banking (L & N-A CL)
Lackawanna RR of N J (Del Lack & Western).. -100
100
Michigan Central (New York Central)
Delaware (Pennsylvania)
Fort Wayne & Jackson pref
41 Broad St., New York
100%
99%
99%
99%
...
3%s, 1970
70
Washington County Ry 1st 3%s, 1954
71%
Stroud & Company Inc.
NEW ENGLAND PUBLIC SERVICE CO.
Philadelphia, Pa.
New York
Private Wires to
PRIOR
Rai I road
Bid
Ask
5s
51.75
1.00f
2.50
63.50
3%S Dec. 1 1936-1944..
2.00
2.00
63.50
Boston & Maine 4 %s
5s
62.75
62.75
-
2.50
63.25
2.25
National
4%s._
5s
Canadian
Pacific
4%s
Cent RR New Jer 4%3—_
2.00
62.75
2.00
61.75
1.25
Northern Pacific 4 Ha
Pennsylvania RR 4%s
61.50
1.00
61.00
0.50
5a
2.00
5s
62,00
1.00
5s__
;
5s
64.25
3.00
64.25
—
Chic Milw & St Paul 4 Ha.-
5.50
5.60
80
84
80
5s...
Jan & July 1936-49
3.00
66.26
66.25
Chicago R I & Pac 4%s—
5s
84
64.75
64.75
5,%s_
3.50
3.50
64.75
3 60
62.75
1
Erie RR 5%s
6s—
2 00
62.00
1.UU
4%s_-
62.75
2.00
5s
62.75
2.00
61.75
1.00
Great Northern 4 Ha
5s
1.00
1.00
62.75
2.00
2 %s series G.
non
5%s
Southern Pacific 4%s
64.40
3.25
3.25
62.65
St Louis Southwestern 5s..
97
64.40
53
97
1.75
97
62.65
1.75
62.80
2.25
5s
62.50
2.00
5%s.——
62.25
1.50
5s
Southern Ry 4 Ha
62.65
2.00
61.76
1.00
4%s
62.65
2.00
2.00
5s
62.50
1.50
62.25
1.50
62.00
1.00
5%s_
Internat Great Nor 4%s.
Long Island 4%8____
—
Maine Central 58..
1.75
1.75
1.00
61.75
5s
3.00
61.75
Louisv & Nash 4%s
64.10
62.60
62.50
6s
1.00
63.25
5%s—
2.60
63.25
3.00
64.00
4%s
2.60
64.00
Minn St P & SS M 4s
3.00
97
Texas Pacific 4s
Union Pacific 4%s
61.60
0.75
61.60
6s
0.75
61.75
Virginian Ry 4%s
58
161.75
Wabash Ry 4Ha
1.00
1.00
99
101
5s
100
102
5%S
100%
6s.
100
102 H
102
Western Maryland 4%s_—
2.00
62.50
Western Pacific 5s
62.50
2.00
64.75
5s
3.75
64.75
5 Ha
3.65
6%
$7
preferred..
preferred
.*
pf 100
---100
Gent Pr & Lt 7 % pref—100
Columbus Ry Pr & Lt—
1st $6
preferred A—.100
100
$6.60 preferred B
Conspl Traction (N J).100
Consumers Pow $5 pref—*
6% preferred
100
6.60% preferred
100
Par
Bid
Empire Title & Guar.; 100
For footnotes see page
2353.
9
Par
Ask
Lawyers Mortgage
20
Bid
X\
«.
-
-
Miss Riv Pow
18%
19
_
112
_
114
25%
100
26
102
94%
95%
99
77
80
87
90
86
88
58
104% 105%
105% 106%
106% 107%
193
$6.50 cum preferred
51%
$7 cum preferred
53
52%
55%
95
MM.
122
Hamilton Gas Co vtc
_
%
Hudson County Gas...100
_
%
193
Idaho Power $6 pref
109
*
100
Illinois Pr & Lt 1st pref..*
preferred
Interstate Natural Gas...*
Jamaica Water
Sup pref.50
Jer Cent P & L 7% pf__100
Kan Gas & El 7% pref.100
Ark
Kings Co Ltg 7% pref..100
1
Long Island Ltg 6% pf.100
7% preferred
—100
LosAngG&E6% pf.,100
Memphis Pr & Lt S7 pref.*
116
21
6
8
56%
60
34
36
..--
<M
—
46
47
81
82
*
51%
52%
pf.*
7% cum preferred
100
N Y & Queens E L P pf 100
Nor States Pr $7 pref..100
Ohio Edison $6
$7
pref
preferred
*
*
preferred
100
105
64%
63%
103% 105
113
114%
109
«
-
-
99
96
108
109%
113
115
111% 112%
101
102%
109%
108
110%
68%
26%
22
54
99
106
86%
111%
91%
110% 111%
93%
91%
pref...*
Philadelphia Co $5 pref..*
Pub Serv of Colo 7 % pf 100
Queerfs Borough G & E—,
6% preferred
100
Rochester G & E 7% B.100
6% preferred C
100
Sioux City G & E $7 pf.100
Sou Caftf Edison pref B.25
«.
—
59%
28
M
-
M
101
97%
80%
92%
-
88
South Jersey Gas & E1.100
Tenn Elec Pow 6% pref 100
preferred...
100
7%, pf.100
Toledo Edison 7 % pf A100
United G & E (Conn) 7% pf
United G & E (N J) pf.100
Utah Pow & Lt $7 pref...*
7%
23%
112% 114
95%
79%
90%
Okla G & E 7% pref... 100
Pacific Pow & Lt 7 % pf 100
Penn Pow & Lt $7
...
52%
7%
N Y Pow & Lt $6 cum
7%
70
51%
Foreign Lt & Pow units. .*
Gas & Elec of Bergen..100
19
84%
122
Ohio Power 6% pref
100
Ohio Pub Serv 6% pf—100
101
68
77
80%
114%
112
100
New Eng G & E 5H% Pf-*
N E Pow Assn 6% pref.100
$7 prior lien pref--!
61
99
88%
73
New Eng Pub Serv Co—
Federal Water Serv Corp¬
se cum preferred
*
Ask
87
preferred
100
Nassau & Suff Ltg pref.100
Nebraska Pow 7% pref.100
New Jersey Pr & Lt $6 pf.*
New Orl Pub Serv $7 pf..*
109% 111
106
107%
100
Gas
100
com..
Bid
Newark Consol Gas
79%
113
Essex-Hudson
Mo Pub Serv $7 pref
7%
78%
preferred
..100
Dallas Pr & Lt 7% pref 100
Derby Gas & El $7 pref—*
7%
6% pref.100
Mountain States Pr
120
Continental Gas & El—
Interstate Power $7 pref..*
Realty, Surety and Mortgage Companies
10
Mississippi P & L $6 pf...*
Mississippi Power $6 pref—
$7 preferred
'
Cent Maine Pow 6%
1.50
Par
84 H
96
Cent Ark Pub Ser pref. 100
62.00
Ask
82%
pref.*
Assoc Gas & Elec orig pref *
$6.50 preferred
*
$7 preferred..
*
Atlantic City El $6 pref--*
BangorHydro-El 7 % pf 100
Birmingham Elec $7 pref.*
Buff Niag & E pr pref.-.25
Carolina Pr & Lt $7 pref--*
2.00
/94
/94
/94
Utility Stocks
Alabama Power $7 pref—*
62.65
5s
St. Louis-San Fran 4s
Bid
Arkansas Pr & Lt $7
2.00
62.60
5s
Par
2.00
Illinois Central 4%s
1.00
Public
62.40
Hocking Valley 5s
61.75
*£I
62.80
call Dec. 1 1936-50
Pere Marquette 4%s
Reading Co 4%s
4%s
Denver & R G West 4%s__
1.00
2.00
4s series E due
6%s
4%S
Chicago & Nor West 4%s„
3.00
61.75
5s
3.00
61.75
1
62.80
62.80
64.00
N Y N H & Hartf 4 Ha
2.00
61.50
2.00
2.00
64.00
62.80
2.00
62.60
5s..
N Y Chic & St. L 4%s
5s.
3.50
62.60
4%s.,_
New York Central 4%s.—
Teletype N.Y. 1-1146
2.25
64.10
New Orl Tex & Mex
ONE WALL ST., N. Y.
stock exchange
2.00
63.25
n.y.
and n.y. curb exchange
3.00
63.00
5 Ha
62.60
Chesapeake & Ohio 5 %s_
64.00
Missouri Pacific 4^8——.
5s i
62.80
Canadian
STOCKS
Tel. DIgby 4-2800
1908
Ash
members
Atlantic Coast Line 4%s.
Baltimore & Ohio 4 %s
PREFERRED
B?rd?U Brothers
Eq uipment Bonds
EST.
Bid
LIEN
-
-
Texas Pow & Lt
Utica Gas & El 7% pf—100
Virginia
Ry
100
114
93
107
91%
105~"
92%
106
98% 100%
28
28%
193
70%
80
111
.
110%
93
71%
81%
112%
112
95
75
70%
72%
98% 100%
1?8
142
I
Financial
2352
Oct.
Chronicle
10. 1936
Quotations on Over-the-Counter Securities—Friday Oct. 9—Continued
Specialists in—
Securities of the
Associated Gas & Electric
S. A. O'BRIEN &
Swart.Brent&Co.
75 FEDERAL ST., BOSTON
HANcock 8920
BROADWAY, NEW YORK
COrtlandt 7-1868
Public
Bid
Amer States P S
95%
5%s_1948
Ariz Edison 1st 5s
1948
1st 6s series A
1945
97
97%
Kan City
Pub Serv 3s_1951
Kan Pow & Lt 1st 4
%s '65
Keystone Telep
5%s_1955
& E 4s 1970
Louisville Gas & El 3 He '66
Los Angeles G
99
Ark Missouri Pow 1st 6s '63
8tt%
72
72%
Ask
53%
109%
100%
106%
103%
First Mortgage
56%
109%
WANTED
Bonds of Subsidiaries
Inc.
American Water Works & Electric Co.,
102
(Maine)
Consumers Water Co.
106%
103%
82
Associated Electric 5s_1961
NEW YORK
Teletype: New York 1-1073
HAnover 2-0510
OFFERINGS
Bid
Ask
100% 101
Ark Louisiana Gas 4s_1951
Tel.
Utility Bonds
101% 102%
91
89%
Amer Wat Wks & El 5s '75
INCORPORATED
40 EXCHANGE PLACE,
York and Boston
1-1074
Direct Private Telephone between New
\
Bell System Teletype—N.Y.
Information—Inquiries Invited
Complete Statistical
CO.
Members New York Curb Exchange
150
^
Water Works Securities
System
Assoc Gas & El Co 4 %s
Assoc Gas & Elec
52
'58
--
Metrop Edison 4s ser G '65
Mtn States Pow 1st 6s 1938
Narragansett Elec 3 %s '66
Corp—
1978
108% 109
98% 101%
104% 104%
Newport N & Ham 5s_1944
New Eng G & E 5s
1962
106
1978
43%
43% .44%
1978
48%
49%
New York Cent Elec 5s '52
Income deb 4%s...l978
Conv deb 4s
1973
53
54
Northern N Y Util 5s. 1955
1973
88
1973
97%
Conv deb 6%s
Est. 1854
Tel. 2-3761
102%
Conv deb 4%s
Conv deb 5s
H. M. PAYSON & CO.
101% 102%
42%
Income deb 3 %s
Income deb
3%s
Income deb 4s
47
Sink fund lnc 4%s._1983
Sink fund Income 5s 1983
54%
-
-
_
_
■
57%
—
61
•
«...
Pennsylvania Eleo 5s 1962
Penn Telep Corp 1st 4s '65
Peoples L & P 5%s___1941
Potomac Elec Pr 3%s_1966
105% 106%
106% 107%
Public Serv of Colo 6s. 1961
105% 106%
106% 106%
Pub Util Cons 5%s
1948
88
86
'65
Sioux City Gas & El 4s 1966
97%
99%
Sou Calif Gas 1st 4s
82%
83%
Sou Cities Util 5s A...1958
85%
86%
Tel Bond & Share 5s. .1958
107% 107%
96%
94%
Utica Gas & El Co 5S.1957
106% 107
Virginia Power 5s
102% 102%
Wash& Suburban 5 %s 1941
107
Western Pub Serv 5%s '60
-
-
1965
1956
Alton Water Co 5s
62
88%
125% 126%
86%
107
100% 102
96%
95
1961
104% 105%
104% 104%
104% 105
1961
104% 104%
Western Mass Co 3%s 1946
104% 104%
106% 107%
Wisconsin G & El 3 %s 1966
Wise Mich Pow
3%s
Wisconsin Pub Ser
107
64%
1st mtge 4s
-
Ashtabula Wat Wks 5s '58
103%
Birmingham Water Works
5s series C
.1957
104
1954
101
5%s series A
1954
Butler Water Co 5s...1957
103
103
Chester Wat Serv 4%s '58
Monmouth Consol W 5s '56
1
103%
Atlantic County Wat 5s '58
104%
--
Citizens Water Co
103
103
104%
New Jersey Water 5s.1950
102
104
New Rochells Wat 5s B '51
91
93
92
94
—
"
103
105%
mm-
1951
5%s
■
104
—
Newport Water Co 5s 1953
Ohio Cities Water 5%s '53
Ohio Valley Water 5s.1954
'
m
1951
103%
City W (Chat) 5s B.-1954
Ohio Water Service 58.1958
102%
101
Ore-Wash Wat Serv 5s 1957
-
99%
97%
•
108
«.«
99% 101%
96
94
'
Is-m
1957
105%
Clinton W Wks Co 5s .1939
m
--
■
-
-
106
Water Works
Peoria
'
•
m
'
•
1950
1st consol 4s
1948
102
100
99% 101%
1st consol 6s
1957
105%
5%s series A
1947
Community Water Service
103%
«.
-
100
1948
103
Phila Suburb Wat 4s..1965
--
1948
Prior lien 5s
Commonwealth Wat (N J)
107
109
99
106% 106%
Pinellas Water Co 5%s '59
5 %s series B
1946
82
85
Pittsburgh Sub Wat 5s '58
107% 107%
/47
6s series A
1946
87
91
Plalnfleld Union Wat 5s '61
108
Connellsvllle Water 5s.1939
100
Richmond W W Co Ss.1957
105
1950
90
102% 103%
4%s
Gulf States TJtll 4s C.1966
103% 104%
1st mtge 5s
Iowa Sou Util 5%s
'
:
-
■
•
'
mm
'
Roanoke W W 5s
Consol Water of Utica—
101% 103
Green Mountain Pow 5s '48
-
mm
103
Federal Pub Serv 1st 6s '47
:•
97
106% 106%
—
T
Co—
1st & ref 5s
101%
.
'
101%
Penna Water Co 5s.__1940
--
•
95
93
Penna State Water 5 %s '52
102%
'
'mm
102
Detroit Edison 3 %s G 1966
Edison El 111 (Bost) 3 %s '65
Federated Util 5%s._.1957
•
Muncie Water Works 5s '65
(Wash)
5s series C
-
99% 100%
Morgan town Water 5s 1965
mm
5%s series A
1951
City of New Castle Water
5s
1941
1st 5s series C
104% 106%
107%
Monongahela Valley Water
5%s
1950
New York Wat Serv 5s '51
5s
1942
107% 107%
106%
63%
110% 110%
101% 102%
106% 107%
61
105
Calif Water Service 4s 1961
t
5s series B
San Diego Cons G&E 4s
110% 111
3%s A.1961
95%
/93%
Long Island Wat 5 %s_ 1955
Middlesex Wat Co 5 %s '57
100% 102%
Alabama Water Serv 5s *57
Ask
Bid
Ask
Bid
104
103
3 %s series F
103
100
Pub Serv of N H 354s D *60
105
104
Conn River Pr
Water Bonds
75%
73%
Parr Shoals Power 5s.1952
--
104
1956
1966
77%
~
m
1973
Conn Lt <fe Power 3 Vis
PORTLAND, MAINE
■
Sink fund income 4s 1983
Cent Ind Pow 1st 6s A 1947
76
Old Dom Pr 5s May 15 '51
84
107
-mm
I
-
„
92
,
..1958
1958
93
95
Roch & L Ont Wat 53.1938
101%
98
100
St Joseph Wat 4s ser 19A'66
Scranton Gas & Water Co
105
Davenport Water Co 5s '61
1950
105
1958
103
104%
Scranton Spring Brook
Water Serv 5s
1961
103
105
1967
102
104
4%s
E St L & Interurb Water—
1942
103
6s series B___
1942
103
5s series D
1960
104%
5s series A
Real Estate Securities
mm
105
5s series A
1952
102
5s series B
1952
104
AMOTT, BAKER
150 Broadway,
mm"
102
Jan 1 1941
Bell System Tel.
N Y 1-588
N.Y.
"'mm
Broadmoor (The) 1st 6s '41
51%
34%
36
B'way & 41st Street—
1st leasehold 6%s._1944
Broadway Motors Bldg
6s stamped
Chanin Bldg lnc
1948
4s...1945
Chesebrough Bldg 1st 6s '48
Chrysler Bldg 1st 6s__1948
Dorset
Apr 28 1940
(The) 1st 6s...1941
1st & ref 5%s
1947
Deb 5s 1952 Legended.
/40
71
75
_
77%
32%
103%
1962
104
Union Water Serv 5 %s '51
Water Serv Cos lnc 6s '42
101% 103%
.•»*
104
102
102% 102%
_
35%
/50%
79
102% 104%
Wichita Water Co 5s B '56
102
104
103
106
104% 105
5s series C
1960
104%
6s series A
...1949
100
'55
1957
104%
103
W'msport Water 5s.__1952
103%
103
mm
m
'
m
m
m
105
36
35
36%
f57 %
66%
151
53
—
47
—
_
_
_
74
-
-
19th & Walnut Sts (Phila)
1st 6s
July 7 1939
/29%
Oliver Cromwell (The)—
1st 6s
Nov 15 1939
/7%
2nd mtge 6s
1951
103 E 57th St 1st 6s...1941
165 Bway Bldg 1st 5%s '51
Prudence Co
5%s double stpd
1961
Realty Assoc Sec Corp—
1943
11
•
Chain Store Stocks
-
67%
69%
/45%
47%"
1st fee & l'hold 6%s_1940
Savoy Plaza Corp—
Realty ext 1st 5%s.l945
70%
66
Par
_
73
66
74%
—
w
87%
/59
89%
52%
54%
61
6s...
1945
Sherry Netherland Hotel—
1st 5%s
May 15 1948
60 Park PI (Newark) 6s '37
616 Madison Av 1st 6 %s'38
61 Bway Bldg 1st 5%s 1950
Bid
m
*
100
56%
59%
/50%
51%
/48
50%
/23%
25%
/23%
25%
/26% ■28%
50
7% preferred.
B/G Foods lnc com
*
13%
14%
*
37
38
8
100
7% preferred
Diamond Shoe pref
155%
57%
no
J5 2%
9%
54
50
104% 106%
100
(S H) 6% pref
Bid
11%
100
Ask
12
108% 110%
Melville Shoe—
4%% preferred
100
*
6%% preferred
100
Murphy (G C) $5 pref.100
Nelsner Bros pref
100
Miller (I) Sons com
133
138
10%
12
42
46
103
112
116"
Edison Bros Stores pref 100
Flshman (M
20~"
H) Stores...*
20%
Reeves
(Daniel) pref-.100
Rose 5-10-25C Stores
5
105
100
100
104
Green (H L) 7%
pref..100
preferred
*
100
Schiff Co pref erred.... 100
Katz Drug
106
United Cigar Sts 6% pf.100
24
27
6% pref ctfs
U S Stores preferred...100
23%
26%
Preferred
13%
17
100
85
92
Par
Bid
*
Kobacker Stores
24%
5%
(H C) common..*
$2.50 conv pref
Bohack
Kress
Lerner Stores pref
5%
Blckfords lnc
Par
Ask
17
15
100
Berland Shoe Stores
58
15 6
Roxy Theatre—
7% preferred
54%
106%
5%
7
Syracuse Hotel (Syracuse)
1st 6%s
67
Oct 23 1940
Textile Bldg 1st 6s....1958
Lewis Morris Apt Bldg—
68
96
Apts 6s '40
/49
•
-
97%
51%
Ludwlg Bauman—
71%
—
m
Trinity Bldgs Corp—
1st 5%s
1939
97
2 Park Ave Bldg 1st 4s 1941
/49
1947
34%
5%s series Q
-
52%
73
1942
1936
Westmoreland Water 5s '52
Interstate Water 6s A. 1940
Jamaica Water Sup 5 %s
Joplin W W Co 5s
98% 100
N Y Title & Mtge Co—
5s income
66
1st 6%s (LI)
101% 103%
59%
53%
/39%
1936
1st 6s (Bklyn)
1951
1950
1st mtge 5%s
1 Park Avenue—
Lefcourt Manhattan Bldg
1st 4-5s extended to 1948
London Terrace
100
1st mtge 5s
101
99
101
152
27
Oct 1 1941
1st 6s
101
79%
/65
'
1939
1st 6%s
Apr 15 1937
Lincoln Bldg lnc 5 %s_ 1963
Loew's Theatre Realt Corp
98
1950
29%
5 %s series F-l
1400 Broadway Bldg—
Rochelle) 1st 6s
77%
5%s series C-2
81
72%
1944
5%s unstamped
1949
Graybar Bldg 5s
1946
Harriman Bldg 1st 6s 1951
Hearst Brisbane Prop 6s '42
Hotel Lexington 1st 6s '43
Hotel St George 4s... 1950
Keith-Albee Bldg (New
|100%
5s series B
-
/28%
5%s series BK
1958
FuUer Bldg deb 6s
Y Water Co—
98
100
9
Fox Theatre & Off Bldg—
1st 6%s
95
86
34
stamped... 1948
90%
N
Western
1958
5s
W Va Water Serv 4S..1961
Lexington Wat Co 5%s '40
30
/28
1945
N Y Eve Journal 6 %s_ 1937
•
7%
84
44
1st 6%s
m
Texarkana Wat 1st 5s.1958
Kokomo W W Co 5s..1958
Ask
Munson Bldg 1st 6%s_1939
N Y Athletic dub-
let mtge 2s stmp & reg'55
1st & gen 6s
1946
51
1949
40 Wall St Corp 6s
42 Bway 1st 6s
1947
Sf deb 5s
_
96
502 Park Ave 1st 6s...1941
Film Center Bldg 1st 6s *43
m
m
mm
Metropol Playhouses lnc—
51
6%s unstamped
1948
6s.
73
64
60 Bway Bldg 1st 3s ino '46
600 Fifth Avenue—
52d & Madison Off Bldg—
Nov 1947
6s
Majestic Apts 1st 6s. .1948
6s
East Ambassador Hotels—
Eqult Off Bldg deb 5s 1952
m
Metropolitan Corp (Can)—
43
Court & Remsen St Off Bid
1st 6s
Bid
Metropolitan Chain Prop—
54
B'way Barclay 1st 68.1941
rn
103
102% 104%
Hlinois Water Serv 5s A '52
Certificates
Ask
45%
m
..1949
5s
Real Estate Bonds and Title Co. Mortgage
Alden 1st 6s
105
102
1954
Indianapolis W W Securs—
Bid
mm
'
1960
Terre Haute Water 5s B '56
6s series A
Indianapolis Water—
1st mtge 3%s
1966
2360
103
5s series B__
85%
103
1960
Sou Pittsburgh Wat 5s
6s
INCORPORATED
BArclay 7
mm
108
Huntington Water 5s B '54
& CO.
105%
5%s series B....... 1977
'55
5s series A
101%
Hackensack Wat Co 5s '77
83%
—
103%
South Bay Cons Wat 5s '50
Greenwich Water & Gas—
We invite inquiries for copies of our compre¬
hensive statistical reports on real estate issues.
1st & ref 5s A
Sedalia Water Co 5%s '47
mm
63.
Walbridge Bldg (Buffalo)—
1st 6%s
Oct 19 1938
Westinghouse Bldg—
1st fee & leasehold 4s '48
Sugar Stocks
99%
_
Ask
Par
1
23%
1
Preferred
Haytian Corp Amer..
25
Savannah Sugar Ref
39
Eastern Sugar Assoc..
f28
40%
West Indies Sugar Corp._l
*
ki
1
♦
/73%
•
•
71%
'
Bid
Ask
_
For footnotes
see
page
2353.
*
139
3%
144
3%
Volume
Financial
143
Quotations
2353
Chronicle
Over-the-Counter Securities—Friday Oct. 9—Continued
on
SYLVANIA INDUSTRIAL CORP.
Investment
QUAW & FOLEY
Members New York Curb Exchange
63 Wall
Telephone HAnover 2-9030
United
Refining Corp.
BROAD
20.07
Investors Fund of Amer.
_
11.67
Invest Co of Amer
10
29%
30%
*
49.51
12%
1.13
1.24
3%
com..
10.20
11~07
Trust..1
6%
4%
5.16
7%
4%
29.08
30.85
17.12
18.71
Nation Wide Securities..1
4.81
4.91
Voting trust certificates.
2.13
Investors
Mutual Invest Fund
.27
"47
37.40
20%
22%
4.45
4.85
No Amer Bond Trust ctfs
63%
46
No Amer Tr Shares 1953..
2.79
3.73
Central Nat
41
Corp cl A...*
Class
4%
6%
Series 1955
28.76
Series 1956
9%
10%
Continental Shares pref
2.97
14%
2.88
Series AA
fNew York Security Dealers Association
Members
[commodity Exchange, Inc.
3.68
3.70
Series 1958
77
85
43
Northern
Securities
100
BlassB....
Accumulative series
2.88
Series AA
BOwlIng Green 9-3565
3.68
Plymouth Fund Inc A. 10c
3.68
30%
Quarterly Inc Shares ._25e
Representative Trust Shs.
Republic Investors Fund.5
36%
Royalties Management
mod
Series ACC mod
Teletype N. Y. 1-1666
Crum & Forster Ins
com
8% preferred
■X
x28%
10
115
100
Common B shares
34%
10
COMPREHENSIVE SERVICE
in the
Deposited Bank Shs
A.
3.57
Diversified Trustee Shs B.
C
Bristol & Willett
2~83
2.54
B__
11%
Deposited Insur Sh
ser
ser
3%
1.02
1.82
14.22
6.00
%
1.82
Selected American Shares.
6.48
3~97
Selected Cumulative Shs..
Selected Industries
conv
pf
Spencer Trask Fund
5.10
5~45
*
Standard Am Trust Shares
24%
22.41
4.30
1-14
Standard Utilities Inc
*
State Street Inv Corp
Broadway, N. Y.
Bell System
2.08
Equit Inv Corp (Mass)..5
Equity Corp conv pref._.l
33.88
36.40
39%
42%
AA
Tel. BArclay 7-0700
Teletype NY 1-1493
*
30.54
32.89
B
13.26
BB
Bid
C
B
_
Foundation Trust Shares A
5%
6%
Fundamental Investors Inc
Amer Air Lines Inc vtc._
10 %
American Arch
*
39
100
69
American Book
Maytag warrants
11%
6%
103
American Hardware
25
Amer Maize Products
*
American Mfg
Preferred
107
Preferred
25.15
26.77
6.54
7.25
35%
22
24
National Casket
8
Andian National Corp
*
Art Metal Construction. 10
45 %
Beneficial Indus Loan pf_*
Bowman-Blltmore Hotels
53
100
Canadian Celanese com..*
Preferred
...100
Climax Molybdenum,...*
Columbia Baking com....
22%
23%
54%
Northwestern Yeast
90
95~~
5
45
47
*
21 %
Norwich
Ohio
7
9
28
132
42 %
13
44%
23%
15
99
25%
60%
58 %
60%
Crowell Pub Co
*
54%
66%
$7 preferred
100
Dentists' Supply Co of N Y
Preferred
50
Douglas Shoe preferred. 100
Draper Corp
_..*
Flour Mills of America...*
65%
120
56
51%
84
1%
Steel
Trico Products Corp
1%
*
shares
(Robert) Co
com
Preferred
Gen Fire Extinguisher
Gen
7
*
7%
9
*
American
Gair
4%
7%
35%
38%
20%
21%
*
*
Fireprooflng $7 pf.100
Golden Cycle Corp
Graton & Knight com
10
3%
6
8
86
89
42
44
Lawrence Portl Cement 100
29%
.
Lord & Taylor com
1st 6% preferred
35
2
38
40
$3
preferred.
*
Welch Grape Juice pref. 100
West Va Pulp & Pap com. *
100
S3
160
165
38
.100
B
Un N Y Bank Trust C3—
3%
Mining Shares
1.78
Un N Y Tr Shs ser F
2
Petroleum
1.34
1.46
Wellington Fund.*■„
RR Equipment shares..
Steel shares
1.49
1.83
1.98
Investm't Banking Corps
Tobacco shares
1.25
1.36
Bancamerica-Blair Corp..
%
1%
Guardian Inv Trust com.*
22%
24
Voting trust ctfs
First Boston Corp.*—___
.75
26.57
12%
13%
34%
23
9%
10%
43
44%
108
111%
2%
2%
16
17%
11
13
42
46
104
106
19%
20%
103% 105%
5
6%
33%
River Bridge 7s
1953
1966
lOl"
19%
98%
98%
Debenture
101% 101%
104% 104%
3%s
1951
3%s_1951
100% 100%
Cudahy Pack
conv 4s.
3%s
1950
1955
1937
Deep Rock Oil 7s
Federal Farm Mtge Corp—
l%s
Sept 1
1939
Gen Mtrs Accept 3S..1946
Debenture
3%s
Aug
15
1938
l%s
June
1 1939
6%s 1937
Kelsey Hayes Wheel Co—
1948
Martin
(Glenn L)
30
102.14 102.18
101.2
101.4
80
83
108% 110%
1939
1951
1946
115%
114
99%
47
45
99% 100%
103% 103%
Nat Radiator 5s
N Y Shipbuilding 5s. 11946
98
102% 102%
Reynolds Investing 5s 1948
89%
91%
1945
Std Tex Prod 1st 6%s as'42
Struth Wells Titus 6%s *43
106%
107%
/16 %
17%
102% 102%
Witherbee Sherman 6s '44
35
102% 102%
Woodward Iron 5s... 1952
/33
/68
Bid
Ask
/83%
101.2
85%
101.4
Scovlll Mfg
5%S
-
-
-
92
...
36
WJR The Goodwill Station
35
37
Bid
Worcester Salt
100
55
60
116
120
7% gold rouble—-.1943
100
Ask
Union of Soviet Soc Repub
Union of Soviet Soc Repub
Young (J S) Co com... 100
126
12%
13%
76
86.43
91.02
10% gold rouble... 1942
7%
preferred
made
is
that
...
NOTICES
Fisher,
Hand
&
Co.,
Co.,
&
the
New
Teletype
N.Y.
York
Stock
of their
Exchange
and other
leading
New York' office to larger
x
14 Wall St.
Austin Brown is resident partner in New York..
G.
Smith & Co.,
Bank & Trust
c
and members of
exchanges, announce
quarters at
N.Y. 1-905
—L.
When issued,
and Eldridge J.
MacEwan, Secretary and Treasurer.
the removal
6 Basis price,
Fisher,
corporation are Wallace A.
The officers of the
Inc.
Inc.,
Ill Broadway, New York, is distributing
historical and statistical reports on Bank of the
a Interchangeable.
Inc., dealers in
municipal bonds will, by change of name, be known hereafter as
Fisher, President; Owen Osborne Freeman, Vice-President,
52 William Street,
w i
87.29
79
mo.
Manhattan Co., Chemical
Co., and Public National Bank.
,
Registered coupon (serial):
Ex-dividend,
y
Now selling on New
—F. S. Moseley & Co., 14 Wall St., New York, have
prepared an analysis
of The Associates Investment Co.
York Curb Exchange.
on New
20%
101.12
^Soviet Government Bonds
100
Wilcox-Gibbs common. .50
ROBINSON, MILLER & CO.
t Now listed
101.8
convert
6s
—Dean Witter & Co., Pacific Coast underwriting house
f Flat price,
f 18%
20%
Bought—Sold—Quoted
Coupon,
6%
'
1940
f 6s
1937
Merchants Refrig 6s..1937
Cont'I Roll & Steel Fdy
conv a
15
Conv deb 6s..
Consolidated Oil
1st
Aug
Journal of Comm
103
Commercial Invest Trust—
MacEwan
d
10%
49
Home Owners' Loan Corp
2s
103%
Chicago Stock Yds 5s. 1961
Comm Credit 3%s
1951
36%
Units
v&Jue.
21.94
Ask
Bid
1938
Haytlan Corp 83.
98%
l%s
Beth Steel 3%s E
1st
PENNSYLVANIA INDUSTRIES, INC.
No par
9%
47%
5%
Pomeroy Ino com..
Ask
111
CURRENT
*
_
4%
2%
20.02
28.57
Bear Mountain-Hudson
—Announcement
Telephone
_
Schoelkopf, Hutton &
.60
110
*
HAnover 2-1282
1.96
3.37
1.62
shares
120
com *
Preferred
U S El Lt & Pr Shares A..
1.75
100
Macfadden Publlca'n
1.38
1.16
1.60
100
2d8% preferred
1.30
1.79
1.61
Am Wire Fabrics 7s..1942
33%
cum
$7 1st pref erred....
2%
21%
1.26
Miscellaneous Bonds
21
preferred
White (S S) Dental Mfg.20
White Rock Min Spring—
31%
1.67
1.72
20%
3 27
Bid
conv
Preferred
1.51
Trusteed N Y Bank Shares
1.64
American Tobacco 48.1951
West Dairies Inc com v t c.
260
100
pf. 10
Trusteed Industry Shares.
1.47
45
Un Piece Dye Wks pref. 100
46%
*
Preferred
100
Great Lakes SS Co com
Great Northern Paper. .25
Klldun Mining Corp
1
*
cum
Unexcelled Mfg Co
10
United Merch & Mfg com *
1.14
1.82
2.19
7.44
6.59
Merchandise shares
390
Warren Northam—
105
43%
Tublze Chatillon
Trusteed Amer Bank Shs B
1.65
Incorporated Investors..*
i
*
com
Trustee Standard Oil Shs A
2.47
4%
44
375
*
3.08
2~90
1.06
shares
Huron Holding Corp
Muskegon Piston Ring
Standard Cap & Seal
5
Standard Screw..__...100
28
81
3%
*
com
3
45
16.08
3.15
1.68
Preferred
108 %
Scovlll Mfg
Taylor Milling Corp
Taylor Wharton Iron &
25
2
*
.25
Singer Manufacturing..100
Sparta Fdy name changed
14%
103
42
1
100
Stromberg-Carlson Tel Mfg
Sylvania Indus Corp
..*
60*
101%
Foundation Co—
Foreign shares
Remington Arms
to
59
62%
Preferred
.100
Dixon (Jos) Crucible... 100
Doehler Die Casting pref. *
*
Publication Corp com
108%
56
23%
13%
"Si*# 7 1st preferred
59
Dictaphone Corp..
Pharmacal
Leather
Pathe Film 7% pref
Petroleum Conversion
31
128
100
Ohio Match Co
$1 cum preferred
Columbia Broadcasting A *
Class B
*
....
5%
21%
90
preferred
Trustee Standard Invest C
Investing shares
4%
19%
100
New Haven Clock pf_..100
5%
14.79
Supervised Shares
2.02
shares
Chemical
7.90
7.90
D
B
Food shares
8%
47 %
1.23
4.10
7.26
Agricultural shares
50
110
*
Nat Paper & Type com..
81
4.55
2.29
General Investors Trust.
25%
Super Corp of Am Tr Shs A
D
Group Securities—
Building shares
47
Preferred
100
•i 5.98
B
Automobile
102%
24%
Muskegon Piston Ring
100
com..
2%
30%
28%
113% 115%
100
36%
American Republics com.*
1st preferred
1
100
preferred
Mock Judson & Voehrlnger
preferred
cum
As*
2%
Merck & Co Inc com
72"
American Hard Rubber—
8%
Bid
Par
Ask
25%
23.10
2.82
11.05
Shares
Fundamental Tr Shares A.
Par
%
1.99
4.30
*
*
Industrial Stocks
5.30
2.83
Fidelity Fund Inc
Fixed Trust Shares A.."
115
/8.35
1.92
Dividend
Members New York Security Dealers Association
14.72
* 118.91
7.55
25c
D
Established 1920
4%
1.13
2.00
4.05
10.49
5.57
Selected Income Shares
3.66
Deposited Insur Shs A
Over-the-Counter Market
_*
17%
Selected Amer Shares Inc.
110
7% preferred
100
Cumulative Trust Shares. *
68"
Pacific Southern Inv pref.* J 40
Class A
*
16
14
Corporate Trust Shares...
2.29
4
N Y Bank Trust Shares
26.75
...
Century Trust Shares._.*
CO.
26~81
1
Mass
34.97
,
York
7
1
1
Consol, Funds Corp cl A_
A
*
*
Canadian Inv Fund Ltd.l
Molybdenum Co.
61 Broadway, New
24.47
Major Shares Corp
Maryland Fund Ino
Bankers Nat Invest Corp *
Basic Industry Shares
*
Sylvania Industrial Corp.
,
115.82 118.16
Investors Fund C
Keystone Cust Fd Inc B-3.
4%
Bullock Fund Ltd
&
7% preferred
.96
Investment Tr of N Y
Assoc Stand Oil Shares..2
UNTERBERG
_
1.25
4%
British Type Invest A
E.
1.35
com.
13
Corp *
Am Insurance Stock
ST., N. Y.
1.10
49.51
Broad St Invest Co Inc
C.
Ask
Bid
18.87
10.69
Amer & Continental Corp.
Amer General Equities Inc
Teletype N Y 1-1397
Climax
Par
*
Amerex Holding Corp...*
Amer Business Shares
1
the New York Security Dealers Assn.
25
Ask
Bid
Par
AfflMated Fund Inc new..
Administered Fund
1919
Tel. HAnover 2-8780
Correspondent
Investing Companies
M. S. Weiii & Co.
Members of
Incorporated
BOwling Green 9-1420
Kneeland 8C Co.—Western Trading
Inquiries Invited
Established
GROUP.
Street, New York
Electrol, Inc.
Cigar Stores
Louisiana Oil
Company Securities
DISTRIBUTORS
NEW YORK
BROAD STREET
-
•
Bought, Sold & Quoted
30
Specialists in all
'
York Stock Exchange.
—John A. Mapes has become associated with Van
J Quotations per 100 gold rouble bond equivalent to 77.4234 grams of pure gold.
i
i
inc., in their sales department.
Alstyne, Noel & Co.,
2354
Financial
Chronicle
Shares
Quotations
Over-the-Counter Securities
Friday Oct. 9 —Concluded
on
Bid
1946
Antioquia 8%
1946
Bavaria 6%s to———1945
Bavarian Palatinate Cons
Clt 7% to
1945
Bogota (Colombia) 6%s '47
8s
_
(Republic)
Bolivia
/14%
/7
/6%
/6%
1958
7s
1969
6s
1940
(Germany)
7s '35
/25%
/21
1940
British Hungarian
Hungarian defaulted coups /20 40
Hungarian Ital Bk 7%s '32
/29
Ilseder Steel 6s
1948
15%
Jugoslavia 53;
1956
7%
6%
Koholyt 6%s
68%
/45 56
/23%
Land M Bk Warsaw 8s '41
/35
Leipzig O'land Pr 6%s '46
/26%
Leipzig Trade Fair 7s 1953
/26
Luneberg Power Light &
1948
/24
28k"
Mannheim & Palat 7s_ 1941
Meridionale Elec 7s..1957
63
0%
24
Water
Corp—
1953
7s assented..
Chilean Nitrate 5s_„1968
70
/30
Cordoba 7s stamped-.1937
7s stamped..
1957
Costa Rica funding 5% *51
15 8
/52
53
44
7%s '49
/23
1949
/32
53 X
7%s
'
24
Church
Protestant
Ill
120
130
130
Courrieres—.—„———
225
223
200
500
475
1,670
510
1,670
1,400
1,540
1,280
305
26
Salvador 7%
-1957
Salvador 7% ctf of dep '57
Salvador 4% scrip
/——
/31%
110
691
33
Energle Electrique du Littoral—
Kuhlmann_.__
675
651
645
529
12
L'Air
Santa
Catharina
24
39""
f20X
/60%
/76
-
Scrip--.--—-.
Santander (Colom) 7s. 1948
Sao Paulo (Brazil) 6s. 1943
Saxon Pub Works 7s. 1945
Serbian 5s
J10
22
60%
ll"
27
/24%
/26
26%
40%
41%
—1956
Serbian
29
Siem & Halske deb 68.2930 /325
/45 56
7s
—
18
850
6%__
80.90
80.75
77.60
81.60
81.90
81.50
82.00
80.75
Rentes, Pepetual 3%
Rentes 4%, 1917
Rentes 4%, 1918
Rentes 4%s, 1932 A
81.80
80.50
78.00
87.75
'
——
•
87.00
86.60
85.00
82.75
87.80
87.30
85.60
83.60
106.60
105.80
105.30
101.00
4,150
4,270
4,280
4,220
1,656
1,640
1,580
1,075
1,050
1,005
Saint Gobain C & C
-
Soclete Generale Fonclere
1955
95
96
Societe Lyonnaise
1947
/10
Prov
United
10%
50
-----
Soclete Marseillaise
585
-
125
108
119
115
Union d'Electricitie
403
435
428
400
Steamship 6s_1937
100
102
59
58
64
64
105k
Unterelbe Electric 6s-1953
/25 X
115%
Vesten Elec Ry 7s
/23
/24
Wagon-Lits
Wurtemberg
1947
to—1945
7s
25%
25%
/22
25
2353.
THEJBERLIN STOCK EXCHANGE
Closing prices'of representative stocks as received by cable
each day of the past week:
'.A
Oct.
sold at auction
were
on
Wednesday
Allgemelne Elektrizltaets-Gesellschaft
Berliner Handels-Gesellschaft
(6%)
Berliner Kraft u. Licht
$ per Share
---$23 lot
$18 lot
By R. L. Day & Co., Boston:
^
«■
.
*
»
$ per Share
Shawmut
Bank, Boston, par $12%
20 Second National Bank, Boston, par $25.
1 Merchants National Bank, Boston, par $100
1 Pepperell Manufacturing Co., par $100
25 Arlington Mills, ex-dividend, par $100———————
10 Nashua Manufacturing Co., preferred, par $100
20 B. B. & R. Knight Corp., preferred.—
16 Suncook Mills, preferred, par $100
i
2 Wilton RR., par $100
——
—-
—.
—
-
-
31
155%
425%
105%
43
44%
20%
19%
Deutsche Bank und
par $100
common
par
—-
B voting trust ctf..
$300
-
1 Galveston Houston Co..—
-
-
—
-
Bonds—•
160
163
162
101
101
101
102
—.113
115
115
115
115
115
Dlsconto-Gesytflschaft_102
101
14x2
101
102
104
103
140
142
143
Erdoel (4%)
140
Deutsche Reichsbahn (German Rys) pf
7%123
Dresdner Bank
102
Farbenindustrle I G (7%)
172
Gesfuerel (6%)
Hamburg Elektrizltaetswerke.
3
39%
78%
114% & int.
$425 lot
$ per Share
25 Dwight
——-
$100-..--
125
126
126
101
102
104
103
172
172
173
174
175
144
——141
143
142
144
145
151
151
151
153
154
15
15
15
16
16
16
113
112
113
112
115
114
15
Hapag
15
16
16
16
16
-
Mannesmann Roehren..
Norddeutscher Lloyd
Relchsbank (8%)
191
191
191
191
194
192
229
230
231
231
230
181
184
185
184
184
197
-
Rheinlsche Braunkohle
155
197
197
199
202
(8%)
Salzdetfurth (7%%)
Siemens & Halske (7%)
183
,
2013
CURRENT
J.
Ross
as a
NOTICES
announces
that Courtnay
H.
Pitt has been
general partner.
order to undertake his
new
association, Dr.
Pitt has resigned
merrfber of the faculty of Princeton University, where he has been
nected
with
doctorate
the
in
School
economics
of Public
from
and
International Affairs.
Professor
Edwin
W.
Princeton,
Kemmerer
and has
of Central American monetary
of that
been
as
a
con¬
He holds
a
closely associated
University.
Last year he
a
field study
problems.
—Walter Tufts, who has been Assistant
Deputy Governor of the Farm
Administration in Washington, has been named
Credit
Deputy Fiscal
Agent for the Federal Land Banks and Federal Intermediate Credit
Banks,
under Charles R. Dunn, Fiscal Agent for these
institutions, with offices at
31
Nassau St., New York.
Mr. Tufts has just assumed his new post.
His work in Washington had to do with the finance division
of the FCA,
which has been carrying out the recent
refunding program of
-
Banks.
19
43%
Virginian Ry. Co.
'
17%
Co., preferred,
68%
45%
par $100
Land
—B. W. Pizzini & Co., 52 Broadway, New York, have
prepared a circular
describing two "minority rails," Wheeling & Lake Erie Ry. Co. and The
1
Manufacturing Co., par $12.50
Merrimack Manufacturing
15%
21
—
par
10 Sanford Mills.
10
————
-
preferred,
124
103
the^Federal
Stocks
9 Norfolk County Tfnist Co., par $10—
1 Old Colony Railroad Co., par $100—
28 Farr Alpaca Co., par $50
25 Nashua Manufacturing Co.,
142
123
represented the International Finance Section of Princeton in
By Crockett & Co., Boston:1
Shares
-
with
Per Cent
$3,000 City of Boston 4s, May 1967 reg. tax exempt
$3,940 Queen Dyeing 5s, 1944 certlficat of deposit
125—
124—1231—124
160
76
-09c.
—361
10 Equity Corp., $3 conv. pref. par SI.
5 Tennessee Electric Power, 7% pref., par $100
—
100
10%
16%
-
10 New England Public Service Cos., $7 preferred
2,000 The Moxle Co.,
1 Boston Athenaeum,
9
38
124—124
G
Deutsche
In
—_$100 lot
18, 1931
Corp.,
common
Oct.
8
160
—Ivy Lee and T.
Industrial Society, par $10; 4 Stollwerck Chocolate
Co., 1st pref. stamped,
$32 paid in liquidation, par $100; 61-100 First National Co., St. Louis..$72 lot>
10-35 Nevada Associates Inc., part, trust ctf. dated June
Co.,
-
Oc
160
admitted to the firm
15 Pacific Development Corp.; 4 Rochester & Syracuse RR.,
pref., par $100;
2 Rochester & Syracuse RR., common, par $100; 1 Weymouth Agricultural &
Gilchrist
7
60
trice, 6% pref., par $100; 1 N. E. Magnesia Corp., part, pref., par $1; 53
Westfield Mfg. Co., common; 8 Whitman
Mills, par $100; 10 Northern Texas
Electric, 6% pref., par $100; $90 Northern Texas Electric, 6% pref scrip;
3 Central Wharf & Wet Dock
Oct.
6
100
40 Kreuger & Toll, American certificates, par 100 Kronen
—$1 lot
46 Massachusetts Power & Light Ass'ts, common; 7 Galveston Houston Elec-
237
37
(8%)
Commerz'und Privat-Bank A.
Dessauer Gas (7%)
Stocks
-
Oct.
5
——Per Cent of Par
37
38
38
38
3
SALES
200 New York Title & Mortgage Corp. (Del.), par $1
50 City Housing Corp. (N. Y.), par $100
Stocks
585
Tubize Artificial Silk, pref
99
114
following securities
National
583
98
98
By Adrian H. Muller & Son, New York:
10
1,285
97
of the current week:
Shares
138
1,310
1951
Oct.
Shares
143
1,385
—
46
50
137
7s—1950
104%
AUCTION
The
78.80
4,100
....
City 7s
.
88.40
SocleteFrancalse Ford
Tucuman
17
106.30
4%%, 1932 B
Schneider & Cie
Tucuman
390
401
1,461
79.30
81.25
57
Tolima 7s
102
750
419
18
24
12
1,090
1,140
880
1,502
67
14 X
1,200
81.30
-
/60
/52
/13%
=
>,450
425
18
1,545
18
Pechiney.
Rentes
1,230
830
120
——
----
...
Pathe Capital
/23
Toho Electric 7s
/42
For footnotes see page
Orleans Ry
Royal Dutch
1940 flOOX
1,230
720
——
Stlnnes 7s unstamped-1936
7s unstamped
1946
9
—
1,310
Stettin Pub Util 7s—1946
m
1957
Hollday
•
Rentes 5%, 1920—
Hanover Harz Water Wks
6%
_
Liquide
Nord Ry
/25%
29%
7%
Credit Commercial de France.
Credit Lyonnaise
•
„
—.
16
/15
30 X
coupons
Transatlantique...
Lyon (P L M)..
1947
Santa Fe 7s stamped. 1942
8%
26%
(Brazil)
1951
Saxon State Mtge 68.1947
f!7,
Guatemala 8s 1948
Coty S A
15%
25%
350
/8%
5%s '37
1960-1990
4s
41
1,660
1,320
/40
Gt Brit & Ireland
800
365
1945
6Xa
/29%
/28%
f7H
f20 50
1954
840 >
1,370
Coupons
(Austria) 8s
870
Eaux Lyonnaise cap
...
Graz
870
Energie Electrique du Nord
25%
June 1 '35 to June 1 '36.
23
Comptoir Natlonale d'Escompte
129 X 133%
Land¬
Apr 15 '35 to Apr 15 '36.
German
Young
Coupons
12-1-34 stamped..
1,150
25
400
/23
120
1934 stamped
1,190
28
412
f22X
/23%
Dec
1,320
292
22,800
435
Cle Generale
Saarbruecken M Bk 6s '47
German defaulted coupons
758
July to Dec 1933
Dawes
1,310
8,300
Citroen B.-.—435
Royal Dutch 4s
30~"
German
1,320
Cle Generale d'Electricitie
(Ger¬
1946
7s.
many)
Prov Bk Westphalia 6s '33
Prov Bk Westphalia 6s'36
/ 70
Tferman called bonds
775
R C Church Welfare 7s'46
128
-
855
26
German Atl Cable 7s. 1945
-
cap
Cie Distr. d'Electricitie
24
Gelsenkirchen Mln 6s. 1934
July to Octt 1936
German scrip
885
——
24
140
French Nat Mall SS 6s *52
July 1934 to June 1936—
9,000
1,092
402
303
22,900
25 X
5%s——1937
Jan to June 1934
'Oct. 9
Francs
8,900
1,120
436
314
22,600
-
6%s'46
38"
f22
723
6%%——.1948
Oct. 8
Francs
276
-24,700
Canal de Suez
-
/23
/30
/23%
138
/14 N
/23X
European Mortgage & In¬
German Building &
Oct. 7
Francs
8,900
1,170
442
278
22,900
Francs
'
15%
Oct!6 "
Francs
9,300
Oct. 5
Canadian Pacific---—-------
63
—
BOURSE
879
/22
/62
/14%
-1945
5% scrip
7%——1968
10c
Francs
3
Banque de Paris et Des Pays Bas
Banque de l'Unipn Parisienne.-
/24%
-bank
od.
26
to
i'.
"
/23
f2 4%
French Govt
""
Bank of France
Electric Pr (Germ) 0%s '50
1966
THE ( PARIS
/29
Porto Alegre
$ per Share
.
Quotations of representative stocks kts received by cable
each day of the past week:
54
Panama
-7.■
..■■■
—
52 X
East Prussian Pow 6s_1953
7% 8
v3-;k;
,
99
Rom Cath Church
vestment
Stocks"^
/29
Rhine Westph Elec 7% '36
Rio de Janeiro 6%—1933
Frankfurt 7s to—— 1945
""
/97 X
11N
1953
-34 flat
15 Angel International Corp
North German Lloyd 6s '47
4s
1947
24
6%s
38%
By Abbott, Proctor & Paine, Buffalo:
/87
1962
25%
1945
cate of deposit.———
Shares
1948
Mtge-7%
/2 3
/22
f22
122 X
to
'
$1,500 A. M. Greenfield & Co., amended deb. 6%s, 1944.————20% flat
$7,000 S. E. cor. Sixteenth and Walnut Streets, 6s 1947 (J. & D.).
Certifi¬
66"
National Hungarian & Ind
/10%
Duisburg 7%
—
Per Cent
/85
6%s_ .1959
1945
5%
6%
3%
—
-
/24
_
Dortmund Mun Utll 6s '48
to
27
/23 X
76
/5 2
-
14 at 112 and 1 at 112
25
47
Costa Rica Pao Ry
/73
$20
par
.—370%
118
—-
$10^——
Oberpfals Elec 7%-—1946
Oldenburg-Free State 7%
68
14%
City Savings Bank, Buda¬
7s
Bank,
$10
$ per Share
$100——
par
,
24
14%
pest, 7s
1953
Colombia scrip Issue of '33
Issue of 1934 4% -r1946
Duesseldorf
par
,
b
.'•' *
'
Philadelphia,
Bonds—
/23
Hungary
6
—
'
'
.
Philadelphia National
par
(A & B)
1946-1947
(C&D)
1948-1949
Nat Central Savings Bk of
10%
lo x
—
—
100 Welsbach Co., common.————————50c.
/22
6%s '38
Natl Bank Panama 6%%
13 X
$11 lot
31
—
50 Pennsylvania Company for Insurances on Lives and Granting Annuities,
Nassau Landbank
llli
flOH
f 12%
/9%
flO
13
flSH
/13%
7%%-1944
7%8—-1946
Ceara (Brazil) 8%.-.1947
Chile, Gov. 6s assented-—
26~
--1945
_
Caldas (Colombia) 7%s '46
Call (Colombia) 7%.-1947
Stocks
15 Girard Trust Co
Municipal Gas & Elec Corp
Recklinghausen 7s
1947
/27
55
Cundlnamarca
7%
Munich 7s to—
Buenos Aires scrip
/53
Burmeister & Wain 6s_1940 /113
5s
1943
———
14 Land Title Bank & Trust Co., par $5
11 Delaware County National Bank, Chester, Pa., par $10
6 Delaware County Trust Co., par $100
42
/24
24
25
Coupons
/32
Callao (Peru)
Cauca Valley
/25 X
41
—
By Barnes & Lofland, Philadelphia;
Shares
2 First National Bank of
Munlc Bk Hessen 7s to '45
1962
6%s
/29
21%
16%
—.
—
41%
89
12
20 Electric Public Service Co., 7% preferred, par $100
$1 lot
1 American Felt Co., preferred, par 8100—w—81
1936
change Bank 7s
Bank
7%s
Brown Coal Ind
Hungarian Discount & Ex-
8
/22%
68%
/71
Brazil funding 6%. 1931-51
Brazil funding scrip
6s
Hungarian Cent Mut 7s '37
25%
/6
Brandenburg Elec 6s. 1953
Bremen
Housing & Real Imp 7s '46
19%
/15%
8s. 1947
7s
21
21
f 19
_1945
_
20
Nonqultt Mills
5 U. 8. Envelope Co., common, par $100—
2 United Elastic Corp
I
.
32%
/18%
f24
Barranquilla 8b'35-40-46-48
43%
5%
16%
15
97 X
/42%
/22 X
/29
/20
Bank of Colombia 7% 1947
Bank of Columbia 7% 1948
Bid
Haiti 6%
1953
Hansa SS 6s stamped. 1939
24
$ per Share
60 Devonshire Building Trust, common par $100
10 Boston Woven Hose & Rubber Co., common
1 George E. Keith Co., preferred, par $100--
Ask
f22
/30%
/20
Stocks
1936
20 Nashua Manufacturing Co., preferred, par $100
8 Bates Manufacturing Co., par $100
16 United Merchants & Mfgs. Co., par $1-————————
Foreign Unlisted Dollar Bonds
Anhalt 7b to
Oct. 10,
—Manufacturers Trust Co. is co-paying agent for $5,482,000
outstanding
New Orleans Public Belt Railroad Bridge revenue gold
4s, dated Oct. 1,1932
Volume
143
Financial
General
OF
REGISTRATION
2355
Corporation and Investment News
RAILROAD—PUBLIC
FILING
Chronicle
UTILITY—INDUSTRIAL—MISCELLANEOUS
STATEMENTS
UNDER
SECURITIES ACT
1938, into four shares; and thereafter and prior to Nov. 1,
1941, into three
shares.
John S.
Pearson, of Indianapolis, is President.
Filed
Sept.
26, 1936.
'
v-■
,,
The
Securities
announced the
tration
and
Exchange
Commission
Oct.
on
7
filing with the SEC of 35 additional regis¬
(Nos. 2492-2525, inclusive, and 2253,
statements
refiling) under the Securities Act.
The total involved is
$104,025,657.64, of which $103,727,950.14 represents new
a
issues.
No.
*;
of Issues
31
Type
Total
Commercial and industrial
2
$91,227,150.14
12,500,800.00
■
Investment; trusts.
_
1
Securities in reorganization
1
Voting trust certificates
The total includes the
have been
144,000.00
153,707.50
following issues for which releases
published:
Lake Superior District Power Co.—$5,600,000 of first
mortgage bonds
(See details in V. 143, p. 2213.)
(Docket No.
2-2504, Form A-2, included in Release No. 1054.)
series A, due Oct. 1, 1966.
Remington Arms Co., Inc.—3,764,389 shares of $1 par value common
stock.
(See details in V. 143, p. 2223.)
(Docket No. 2-2509, Form A-2,
included in Release No. 1055.)
General American Oil Co.
of Texas—50,000 shares of $50
par value
5H % cumulative convertible sinking fund prior preferred stock and 120,000
shares of $5 par value common stock.
(See details in V. 143,
p.
(Docket No. 2-2512, Form A-l, included in Release No. 1058.)
Central
Hudson
Gas
&
Electric
value 4H % cumulative preferred stock.
2208.)
Corp.—70,300 shares of $100
par
(See details on subsequent page.)
(Docket No. 2-2521, Form A-2, included in Release No. 1062.)
Distillers Corporation-Seagrams, Ltd.—150,000 shares of
$100 par
5% series with common stock purchase
attached, and 150,000 shares of no par value common stock for
exercise of the warrants.
(See details on subsequent page.)
(Docket
No. 2-2525, Form A-2, included in Release No.
1063.)
value cumulative preferred stock
warrants
Other issues included in the total
are as
follows:
Wellington Foundation,
Pa., has filed
certificates
a
to
Inc. (2-2492). Form C-l) of Philadelphia,
registration statement covering Wellington Foundation trust
be offered at an aggregate price of
$10,000,800.
Filed
Sept. 25, 1936.
American Airlines, Inc. (2-2493, Form A-l) of Chicago,
111., has filed
registration statement covering $2,777,813 of five-year 4convertible
due July 1, 1941, and $872,188 of five-year
4^% non-con¬
vertible debentures due July 1, 1941, all of which were issued
July 1, 1936,
and sold to The Aviation Corp. of Chicago, the
principal underwriter, at
par.
The company is also registering 222,225 shares ($10 par) common
a
debentures
stock to be issued upon conversion of the convertible debentures at a basic
conversion price of $12.50 a share.
It is stated that the underwriter has
agreed to offer $200,000 of the convertible debentures to employees of the
who are not officers and directors.
The balance will be offered
The proceeds are to be used to pay outstanding indebtedness and
as part payment for airplanes and spare
engines.
C. R. Smith, of Chicago,
is President.
Filed Sept. 25, 1936.
company
publicly.
Great Northern Gold Mines, Inc. (2-2494, Form A-l) of
Pittsburgh,
has filed a registration statement covering 650,000 shares ($1 par)
Pa.,
common
for
stock to be initially offered at $1 a share.
development
The proceeds
are
to be
Arthur W. Iloge, of Nevada City, Calif., is
Filed Sept. 25, 1936.
President.
purposes.
Cannon Shoe Co. (2-2495, Form A-2) of Baltimore, Md., has filed a
registration statement covering 10,000 shares ($50 par) 5H% cumulative
preferred stock, and 16,667 shares ($1 par) common stock which is presently
outstanding.
The underwriters will offer 10,000 shares of common stock
and 10,000 shares of preferred stock to the public in units of one share of
preferred and one share of common.
The remaining 6,667 shares of com¬
mon stock are to be retained by the underwriters and will not
be initially
offered to the public.
The proceeds to be received by the company are to
be used to open additional retail stores and for other
corporate purposes.
The
of the underwriters
names
registration
President.
are
statement.
Warren
Filed Sept. 25, 1936.
to be furnished by amendment to the
MacPherson,
of
Cambridge,
Mass.,
is
New Britain Machine Co.
has filed
(2-2496, Form A-2) of New Britain, Conn.,
registration statement covering 40.000 shares (no par) common
a
stock to be offered to common stockholders of record Oct. 20, 1936, in the
ratio of one new share for each two shares held, at a price of $37 a share.
Option warrants will be issued to the common stockholders and will expire
Nov. 12, 1936.
The proceeds are to be used to pay bank loans, to redeem
outstanding class A preferred stock, to reimburse the treasury for the pay¬
ment out of
earnings of dividends on the class A preferred stock, and for
working capital.
Herbert H. Pease, of New Britain, is President.
Filed
Sept. 25, 1936.
Best
Drug Stores,
Inc. (2-2497, Form A-l) of Los Angeles, Calif.,
registration statement covering 25,000 shares ($10 par) preferred
A common stock, to be offered
in units
consisting of one share of preferred and two shares of common at
$10.10 a unit.
The remaining shares of common stock are to be offered
to officers, directors and certain stockholders of the
company on the basis
of two shares for each unit sold publicly, at a price of five cents a share.
The proceeds are to be used for working capital.
A. J. Neve, of Los Angeles,
is President.
Filed Sept. 25, 1936.
has filed
a
stock and 100,000 shares (five cents par) class
Tampax, Inc. (2-2498, Form A-l) of N. Y. City, has filed
statement covering 300,000
registration
shares ($1 par) common stock of which 237,500
a
shares
are
presently outstanding.
The remaining 62,500 shares are to be
offered publicly at $4 a share.
The proceeds are to be used for the ac¬
quisition of patents, trademarks, and other property; for the payment of
part of the
purchase price of Tampax Sales Corp.; for advances to a sub¬
bank loans; for purchase of machinery and equipment;
advertising campaign and working capital.
Founders Fiscal
Corp., Ltd. of Toronto, Canada, and Ecta Corp. of N. Y. City, are the
underwriters.
Ellery W. Mann, of N. Y. City,- is President.
Filed
Sept. 26, 1936.
sidiary to
and
for
repay
an
(L. F.) Serrick, Inc. (2-2499, Form A-2) of Defiance, Ohio, has filed a
registration statement covering 45,000 shares ($5 par) class A common
stock, and 45,000 shares ($1 par) class B common stock to be reserved for
conversion of the class A common stock on a share for share basis.
The
proceeds together with other funds are to be used to acquire certain assets
of Acme Machine Products Co.,
Inc.; for the payment of certain funded
debt, bank loans and notes payable of Acme Machine Products Co., Inc.,
assumed by the company; for the acquisition of all of the outstanding capital
stock of Defiance Screw Machine Products Co. not now owned; and for the
payment of outstanding notes of the company.
Paul W. Cleveland & Co.,
Inc., of Chicago, is expected to be the underwriter.
L, F. Serrick, of
Defiance, is President.
Filed Sept. 26, 1936.
'
<,
Pearson Co., Inc. (2-2500, Form A-2) of Indianapolis, Ind., has filed a
registration statement covering 12,000 shares ($25 par) 5% cumulative
preferred stock series A, and 184,000 shares ($1 par) common stock of
which 60,000 shares are reserved for conversion of the preferred and 124,000
shares are outstanding.
The proceeds to the company from the sale of the
preferred will be used for additional working capital.
Burt, Nelson &
Ramser, Inc., and Enyart, Van Camp & Feil, Inc., both of Chicago, and
Roger Verseput & Co., of Grand Rapids, Mich., are the underwriters of the
common stock.
The underwriters also have a continuing option for a period
of 12 months on the preferred stock.
The preferred stock is convertible
into common at the option of the holder at the rate of five shares of common
for one of preferred prior to Nov. 1, 1937; thereafter and prior to Nov. 1,
t
■.
.
.
State Loan Co. (2-2501, Form
A-2) of Mount Ranier, Md„ has filed a
registration statement covering 3,000 shares ($100
par) 6% preferred profit
sharing stock, 1,000 shares of which are to be offered to the public at $107
if purchased
outright or $110 a share if purchased on the instalment plan.
The net proceeds will be used for
payment of bank loans and other obliga¬
tions, business expansion and other corporate purposes.
Wilhelm & Co.,
of Washington, D. C., is the
principal underwriter. Adam Weir, of Wash¬
ington, D. O.. is the President.
Filed Sept. 26, 1936.
Equity Fund, Inc. (2-2502, Form A-l) of Seattle, Wash.,
registration statement covering not more than 200,000 shares
par value common stock.
The proceeds are to be used for
purposes.
Drumheller, Ehrlichman & White, of Seattle, are
has filed
a
of 20 cent
investment
the under¬
Ben B. Ehrlichman, of Seattle, is President.
Filed Sept. 26,1936.
American Carrier-Call Corp. (2-2503, Form
A-l) of New York, has
filed a registration statement
covering 400,000 shares ($1 par) common
stock to be offered at $2 a share.
The proceeds are to be used for working
capital.
L.
Stewart Gatter, of New York
City, is President.
Filed
Sept. 26, 1936.
writers.
(The) Hilton-Davis Chemical Co. (2-2505, Form A-2) of Cincinnati,
Ohio, has filed a registration statement covering 28,000 shares
($5 par)
$1.50 cumulative convertible preferred stock and
162,504 shares ($1 par)
common stock, 93,504 of which are issued and
outstanding; 35,000 are
reserved for conversion of preferred
stock; 20,000 shares will be offered
publicly by the underwriter; and 14,000 shares are under option to the
underwriter from A.
B.
Davis of Cincinnati, Ohio, President of the com¬
indebtedness, plant
working capital.
The principal underwriter is Dis¬
tributors Group, Inc. of N. Y.
City.
Filed Sept. 28, 1936.
Mock, Judson, Voehringer'Co., Inc. (2-2506, Form A-2) of
Newark,
N. J., has filed a registration statement
covering 15,000 shares ($2.50 par)
common stock all of which are
presently outstanding.
Carl M. Loeb &
Co., of N. Y. City, is the underwriter.
John K. Voehringer Jr., of Greens¬
boro, N. C., is President.
Filed Sept. 28, 1936.
pany.
The net proceeds will be used for payment of
and equipment, and
Harris-Seybold-Potter Co. (2-2507, Form A-2) of Cleveland, Ohio, has
a registration statement
covering $1,250,000 of 15-year 5% convertible
sinking fund debentures due Oct. 1, 1951, 19,161 shares (no
par) $5 cumula¬
tive, dividend convertible prior preference stock, and 127,069 11-35 shares
($1 par) common stock including scrip certificates for fractional shares.
filed
Of the
common
stock
being registered 30,657.(> shares will be reserved for
issuance together with the prior preference stock in
exchange for the com¬
pany's 7% preferred stock ($100 par) at the rate of one share of
prior
preference and 1.6 shares of common stock for each share of
7% preferred;
54,745 5-7 shares are reserved for conversion of the convertible
prior
preference stock being registered; and 41,666 shares are reserved
for con¬
version of the debentures.
The proceeds from the sale of the debentures
be used for refunding and for
general corporate purposes.
The de¬
bentures are convertible into common stock at a
price of $30 a share to and
incl. Oct. 1, 1939, at $35 a share thereafter and incl.
Oct. L 1942, and at
$40 a share thereafter but prior to Oct. 1, 1951.
The prior preference stock
is convertible into common stock at a
price of $35 a share of common stock
to and incl. Oct. 1,
1938, and at $40 a share thereafter.
will
Cleveland, is President.
Filed Sept. 28,
Loomis-Sayles Second
Fund,
R, V. Mitchell, of
1936.
Inc.
(2-2508, Form A-l) of Boston,
Mass., has filed a registration statement covering 200,000 shares ($10
par)
common stock.
The offering price of the
company's shares on Sept. 23,
1936, was $41.75 a share, it is stated.
The proceeds from the sale of the
new
stock will be added to the investment fund of the
company.
Sayles & Co., Inc., of Boston, are the underwriters.
Boston, is President.
Filed Sept. 28, 1936.
R.
H.
Loomis,
Loomis,of
Menasco Manufacturing Co.
(2-2510, Form A-l) of Los Angeles,
Calif., has filed a registration statement covering 70,000 shares ($1
par)
common
capital stock to be offered at $3.75 a share.
The proceeds are to
be used for the purchase of
machinery and equipment, the
development of
property and for other corporate purposes.
G. Brashears & Co., of Los
Angeles, is the underwriter.
A, S. Menasco, of San Gabriel, Calif.,-is
President.
Filed Sept. 28, 1936.
Huttig Sash & Door Co. (2-2511, Form A-2) of St. Louis, Mo., has
has filed a registration statement
covering 8,858 shares ($100 par) preferred
stock having a dividend rate of 7% but is cumulative
only at rate of 5%
from Oct. 1, 1936, to Oct. 1, 1939, and at the rate of
7%
thereafter, and
139,861 shares ($5 par) common.
Part of the pommon stock being
reg¬
istered is to be exchanged for 100,000 issued shares of the
company's no par
value common stock on a share for share basis.
Tne preferred stock
being
registered is to be exchanged for 8,858 outstanding shares of the
company's
$100 par value (7% cumulative) preferred stock as follows: one share of
the new preferred stock, 4>£ shares of tne new common
stock, and $2.25
in cash for each share of outstanding preferred
stock.
G. H. Walker & Co.,
and Smith, Moore & Co., both of St.
Louis, are tne underwriters.
Roy R.
Siegel, of St. Louis, is President.
Fuller
has filed
Field Sept. 28, 1936.
Manufacturing Co. (2-2513, Form A-l) of Kalamazoo, Mich.,
registration statement covering 115,000 shares ($1 par) common
stock to be initially offered at $4 a share.
The proceeds are to be used for
the acquisition of 7,746 snares of common stock of Universal
Power Snovel
Corp; for payment of claims allowed in receivership proceedings of Unit
Corp. of America, including franchise tax of the State of Delaware;
pay¬
ment of delinquent real and personal
property taxes together with interest
and penalties; liquidation of notes of Unit
Holding Corp.; and for working
capital.
Sadler & Co., and Fuller Cruttenden & Co., both of
Chicago are
the underwriters.
J. Seton Gray, of Kalamazoo, is
President.
Filed
Sept. 28, 1936.
a
Bath Iron Works Corp. (2-2514, Form A-2) of
Bath, Me., has filed a
registration statement covering 194,000 shares ($1 par; common stock of
wnich 144,000 shares are presently outstanding.
The proceeds to the com¬
pany from the sale of 50,000 shares are to be applied to the
redemption of
$73,000 of outstanding first mortgage 7% serial bonds, and to
working
capital.
William S. Newell, of Bath, is President.
Filed Sept. 28, 1936.
Eason Oil Co. (2-2515, Form A-2) of Enid,
Okla., has filed a registration
covering 40,006 shares ($20 par) $1.50 convertible preferred
statement
stock,
($1 par) common stock of which 314,632 shares are out¬
standing, 20,000 shares are subject to an option to the underwriters, and
220,000 shares are reserved for conversion of the preferred stock.
The
proceeds to be received by the company are to be applied to the retirement
of tne company's outstanding first mortgage 6%
bonds, to the retirement of
notes and contracts payable, and to purchase of
leases, development, work¬
ing capital and other corporate purposes. Lyon, Pruyn & Co., and Stemmler
& Co., both of N. Y. City, are the underwriters.
The preerred stock is
convertible into common at the rate of 53^ shares of common for one share
of preferred until July 1, 1938, four shares thereafter and until Jan.
1, 1940,
and three shares thereafter.
T. T. Eason, of Enid, is President.
Filed
Sept. 28, 1936.
and 554,632 shares
Sterling Aluminum Products, Inc. (2-2516, Form A-2) of St. Louis,
Mo., has filed a registration statement covering 306,500 shares ($1 par)
capital stock of which 246,500 shares are presently outstanding.
The re¬
maining 60,000 shares are under option to the underwriters, Russell Maguire
& Co., Inc., and E. H. Rollins & Sons, Inc., both of N. Y.
City.
The
underwriters will also publicly offer 135,200 snares of the
outstanding stock
being registered.
Such proceeds as are received by the company are to be
used for working capital or other corporate purposes.
John Flammang, of
St. Louis, is President.
Filed Sept. 28, 1936.
Union
Sugar Co. (2-2517, Form A-2) of San Francisco, Calif., has
registration statement covering 24,000 shares ($25 par) common
The proceeds are to be used for the retirement of
outstanding
preferred stock, the payment of accrued dividends on the preferred stock,
and general corporate purposes.
Edmunds Lyman, of San Francisco, is
President.
Filed Sept. 28, 1936.
filed
a
stock.
Financial
2356
Oct.
Chronicle
Lexington Foundation, Inc. (2-2518, Form C-l) of N. Y. City, has
a registration statement covering the issuance of Lexington Foundation
be offered at an aggregate offering price of $2,500,000.
Filed Sept. 29, 1936.
filed
1936
10,
Specialistt in
contract certificates to
Ga.,
Enterprise Manufacturing Co. (2-2519, Form E-l) of Augusta,
a registration statement covering 5,000 shares ($100 par) common
exchanged for 9,000 shares ($100 par) common stock, all the
outstanding capital stock of Sibley Manufacturing Co., of Augusta.
The
basis of exchange is five shares of common stock of Enterprise Manufactur¬
ing Co. for nine shares of common stock of Sibley Manufacturing Co.
Filed Sept. 29, 1936.
and Scrip
All Rights
has filed
stock to be
MCDONNELL
Beech Aircraft Corp. (2-2520, Form A-l) of Wichita, Kan., has filed
registration statement covering 150,000 shares ($1 par) common stock
to be offered at $4.50 a share.
The proceeds are 19 be used for the purchase
of a plant and equipment from Curtiss-Wright Airplane Co. and for other
expenses in connection with the acquisition of the property.
Tobey & Co.,
of N. Y. City, is the underwriter.
Filed Oct. 1, 1936.
«
($1
Y.
(The) Salt Dome Oil Corp. (2-2523, Form A-l) of Houston, Tex., has
a registration statement covering 20,000 shares ($1 par) common stock
to be offered at the daily prices of the company's shares listed on the Phila¬
delphia Stock Exchange.
The proceeds are to be used to acquire oil, gas,
and mineral interests, royalties and leases, and for the development of such
property.
Meyerco, Inc., of N. Y. City, is the underwriter.
Karl F.
Hasselmann, of Houston, is President.
Filed Oct. 1, 1936.
filed
Co.—Frederick Pierce, et al, voting trustees of public
Investing Co. (2-2524, Form F-l) of Philadelphia, Pa., have filed a registra¬
tion statement covering the issuance of voting trust certificates for 61,483
shares ($1 par) capital stock of Public Investing Co.
Filed Oct. 1, 1936.
Stanley Gold Mines, Ltd. (2-2253, Form A-l, a refiling) of Montreal,
Canada, has filed a registration statement covering 500,000 shares ($1 par)
common stock to be offered as follows: 100,000 shares at 60 cents a share;
100,000 shares at 70 cents a share; 100,000 shares at 80 cents a share; 100,000
shares at 90 cents a share; and 100,000 shares at $1 a share.
The proceeds
are to be used for the development of property and for working capital.
Howard E. Perry, of Cumberland, Me., is President.
Filed Sept. 26,1936.
Public Investing
Prospectuses were filed for seven issues under Rule 202,
which exempts from registration certain classes of offerings
not exceeding $100,000.
The act of filing does not indicate
that the exemption is available or that the Commission has
made any finding to that effect.
A brief description of
these filings is given below:
Wallapai Gold & Silver Mining Co. (File 3-3-794), 229 North Pickering
Ave., Whittier, Calif.
Offering 300,000 shares of capital stock of 10 cents
par value at par.
Frank S. Gordon, 720 East Turnbull Drive, Whittier,
Calif., is President.
The offering is to be made though W. H. Fowler,
Suite No. 616, Candler Bldg., 220 West 42d St., New York, N. Y.
Springs Brewing Co. (File 3-3-796), New Braunfels, Texas.
Offering 1,000 operating shares of $100 par value at par.
E. A. Adcock,
719 Delmar St., San Antonio, Texas., is President.
No underwriter is
Comal
named.
Queen Ann Gold Mines,
Inc. (File 3-3-797).
Offering
No address.
100,000 shares of 7% cumulative preferred stock of $1 par value at par.
William S. Alexander, 1704 Atlantic Ave., Long Beach, Calif., is President.
No underwriter is named.
ifaines, Inc. (File 3-3-798), 900 Market St., Wilmington,
Offering to brokers and security dealers 100,000 shares of common
of $1 par value at par.
J. P. Woodward, Safford, Ariz., as Presi¬
(The) Seward
Del.
stock
No underwriter is named.
Trutonophone, Inc. (File 3-3-799), 101 Fifth Ave., New York, N. Y.
Offering 30,000 shares of capital stock of $1 par at $3 per share.
Sidney N.
Rosenthal, above address, is President.
No underwriter is named.
Patrician Mining Co., Ltd. (File3-3-800), 925-929 Market St., Wilming¬
ton, Del.
Offering 100,000 shares of common stock of $1 par value at par.
Gilbert Rayburn, 132 Mariposa Ave., Long Beach, Calif.,i is President.
No underwriter is named.
dent.
B.)
(H.
Morgan Distilleries,
Inc. (File 3-3-804), Amenia,
Dutchess
value
Harry B.
County, N. Y.
Offering 6,000 shares of preferred stock of $10 par
and 30,000 shares of common stock of $1 par value at par.
Morgan, Amenia, N. Y., is President.
No underwriter is named.
at par
following registration statements also were filed with
details regarding which will be found on subsequent
The
..
named:
under the companies
Gulf
States
Steel Co.' (No. 2-2529,
1st (closed) mortgage sinking fund 4)^%
of common stock.
Filed Oct. 2, 1936.
Southern Indiana Gas
The
its
2-2536, Form A-2) covering
Filed Oct. 7, 1936.
permitted to withdraw
In
In
Inc. (V. 142, p. 1906).
making available the above list,
does the act of filing
no case
approval or indicate that the
the issue or that the registration
its
Filed March 7, 1936.
the Commission said:
security
Commission has passed on the merits of
with the Commission give to any
statement itself is correct.
previous list of registration statements was
issue of Oct. 3, p. 2196.
The last
in
our
V. 143, p. 418. -
American Kid Co.—Stop Order—
Securities and Exchange Commission
has issued a stop order
statement filed by the American Kid Co. on March
27, 1936 for 10,000 shares of class A and 10,000 shares of class B stock—
The
against the registration
V. 142, p.
given
Period End. Sept.
Profits after
&
devel.
SO—
_
oper.
1936—Month
$430,500
company
General operating expenses
Maintenance
American
See list given
1936—9 Mos—
1935
$396,500
$3881,500
1935
$3,038,000
179,200
1,919,900
1,421,800
preferred stocks
Prop, of earn., attributable to min. com.
Carrier-Call Corp.—Registers with
SEC—
x6,741
$3,382,520
240,617
$3,940,216
83,616
-
Holding company interest
839,771
$4,222,291
179,264
Expenses of Am. Lt. & Trac. Co
Taxes of Am. Lt. & Trac. Co.
1,254,318
A 1,457
121,784
deductions
consolidated surplus
preferred stock
Balance transferred to
70,463
$5,368,893
$3,869,753
on
of common stock
Adjusted to reflect reversal of
804,486
$3,065,267
$i.65
Balance
804,486
$4,564,407
Dividends
$1.11
Earnings per share
Detroit City Gas Co. rate reserve.—
V. 143, p. 1550.
American Machine
& Foundry Co.—Common
Dividend
Increased:—Extra Dividend—
The directors on Oct. 7
addition to
a
declared an extra dividend of 25 cents per share in
dividend of like amount on the common
regular quarterly
capital stock, no par value,
both payable Nov. 2 to holders of record Oct. 17.
with 20 cents paid each three months
The current disbursements compare
1, 1932 to and including Aug. 1, 1936 and 35 cents paid each
quarter from Nov. 1, 1930 to May 2, 1932 inclusive.
In addition an extra
dividend of 20 cents was paid on Nov. 1, 1935, Dec. 10, 1934 and on Dec. 1,
1930; an extra of five cents per share was paid on Nov. 1, 1930.—V. 143,
p. 1219.
from Aug.
American Machine &
Metals, Inc.—Subsidiaries' Assets
Transferred—
notified the New York Stock Exchange that effective
Sept. 30, 1936, its subsidiaries, American Machine
Metals Manufacturing Corp. and Trout Mining Co., have transferred
it all of their business and property in complete liquidation.—V. 143,
The company has
&
to
p.1386.
American Terminals &
Transit Co., Henderson, Ky.
—Stop Order Issued by SEC—
Exchange Commission announced
suspending the effectiveness of the
The Securities and
Oct. 6 that it had
registration state¬
Feb. 9, 1935 by the company covering $500,000 7% 10-year
income bonds due Jan. 1, 1945.
After a public hearing on the matter,
the Commission found that the registration statement contained untrue
statements of material facts and omissions of material facts.
In an opinion
issued with the order the Commission found that the registration statement
was deficient with respect to matters of accounting, occurring chiefly in the
balance sheets and profit and loss statements of the company's subsidiaries,
filed
ment
in
appraisals of the company's properties, and in miscellaneous representa¬
registration statement and the prospectus concerning the
tions made in the
& Refining Co. (& Subs.)—Earns.
Six Months Ended June 30
1935
earnings_-_.-$13,935,761 $10,936,068
Int.,
rents,
dividends,
commissions, &c
443,411
272,106
1934
$9,774,522
1933
$6,606,390
359,778
651,588
$14,379,172 $11,208,173 $10,134,300
Gen'l & admin, expenses
940,745
894,735
771,689
Research & examin. exp.
170,275
136,356 f
114,984
Corporate
taxes
(incl.
$7,257,978
742,890
92,049
incomer-
Int. on Fed.
& expense
Inc.—Stock Called—
Power & Light
1,146,355
909,582
1,327,462
733,825
909,683
925,547
71,103
2,090,9J9
on
75,939
479,590
Metals bds.
Unamort. bond discount
&
Deprec.
Corp.—Options—
has notified the New York Curb Exchange that it has
option to purchase all or any part of 162,140 shares of its class B
1st
income
pref. dividends
2d pref.
dividends
dividends
Bal., sur., for 6 mos.profit & loss, sur._
Total
stock
outstanding (no par).
Shares
Stock as follows:
share at
(a) 81,070 shares of such class B Stock at the price of $7.86 per
time or from time to time on or before March 25, 1937, and
^(b) 81,070 shares of such class B Stock at the price of $8.36 per
at any time or from tjme to time on or before Sept. 25, 1937.—V.
p.1862.
obsolescence
and ore depletion
Net
143,
2,890,095
2,744,971
2,675,804
2,657,518
$7,807,529
$5,062,850
$4,263,577
$2,030,209
1,750,000
552,000
2,625,000
c2,484,000
b5.750,000
1,646,946
-
$3,858,583 def$46,150def$l,486,423def$2030,209
20,182,324 11,572,415 10,923,939
17,583,200
common
1,829,940
1,829,940
1,829,532
1,828,665
$3.01
$1.51
$1.07
Nil
b Being accumulations amounting to $11.50 per share,
c Being accumu¬
lations amounting to 13 ^
.
Earnings per share
share
313,323
written off-
Common
The company
10,069
$4,499,240
$5,753,559
-
-
U. S. and foreign
taxes)
1st mtge. 5s
Int. on 1st mtge. & 1st
lien
4s
convertible pref.
any
3,450,541
161,554
637,500
est.
American Chain Co.,
an
$7,638,858
$5,490,677
Total income
income
oh first page of this department.
American Cities
stock—
Equity of Am.Lt.&Trac. Co. in earn, of subs
Income of Am. Lt. & Trac. Co. (exclusive of income
received from subs.)
Int.
The company has called for redemption on Nov. 2 all of its outstanding
7% pref. stock that has not been exchanged for new 5%
mnder the company's offer.
The redemption price is $110 per share plus
Ifocrued dividends of $15.62 which have previously been declared by
directors and will be payable on the redemption date.—V. 143, p. 2197-
granted
$7,338,962
x299,896
3,449,418
162,530,
637,500
Dividends on
1936
Airlines, Inc.—Registers with SEC—
on first page of this department.—V. 143, p. 2196.
American
See list given
2,280,872
2,059,662
4,594,021
$8,758,757
Total income of sub
Int., amort. & pref. div. of sub.:
Interest on bonds, notes, &c
Amortization of bond discount & expense
x
1935
566,727
■
Balance
2,320,811
4,634,286
$8,192,030
Net earnings from oper. of sub
Non-operating income of sub.
Gross
7,500
of general plant
Federal income taxes--
General taxes & estimated
Total net
Co.—Earnings—
before
—V.
2,722,125
-
Provision for retirement
^
$35,205,895
20,349,681 18,932,376
Consolidated Income Account
charges, but
depletion, de& Federal taxes143, p. 2196.
Subs.)—Earnings—
31-—
1936
of sub. (after eliminat. inter¬
transfers)
-.$38,218,935
earn,
opera,
American Smelting
exps.
prec.
Light & Traction Co. (&
12 Months Ended Aug.
Gross
enterprise.
♦
Gross income
2488.
American
Alabama Great Southern RR.—New Directors—
John C. Persons has been elected a director.—V. 143, p. 2037.
Alaska Juneau Gold Mining
N. Y.—Extra
'
declared an extra dividend of ten cents per share in
addition to the regular quarterly dividend of 25 cents per share on the
common stock, par $5, both payable Oct. 26 to holders of record Oct. 15.
Extra dividends of five cents were paid on July 25 and on April 25, last.—
The directors have
issued a stop order
registration statement:
Blue Lake Gold Mines,
Equitable Assurance Co. of
American
Dividend—
at the close of business
Form A-2) covering $7,000,000
^onds due 1961, and 98,569 shares
following company has been
RECTOR 2-7815
TEL.
& Electric Co. (No.
85,895 shares preferred stock.
NEW YORK
BROADWAY,
120
the SEC,
pages
/New York Stock
,
has filed
(J. W.) Carter Co. (2-2522, Form A-2) of Nashville, Tenn.,
a
registration statement covering 170,000 outstanding shares
par) com¬
mon stock.
It is proposed to offer only a sufficient number of 80,000
shares to the public at $10 a share to qualify the issue for listing on the
New York Curb Exchange.
If the issue is listed and traded in, the offering
price to the public of the remainder of the 80,000 shares will vary from time
to time with the market price.
The remaining 90,000 shares being reg¬
istered but not initially offered may be offered from time to time depending
upon the market price of the .stock.
D welly, Pearce & Co., of N.
City,
are the underwriters.
C. A. Goding, of Nashville, Tenn., is President.
Filed Oct. 1, 1936.
& CO.
Exchange
Member8|New York Curb Exchange
a
'
Volume
Financial
143
Consolidated Balance Sheet June 30
~
■
1936
Assets—
amount
1935
$
Cash
55,994,597
U. S. Govt. sees. a9,246,150
Accts. rec. (net) 11,524,101
Notes rec., due
>
in 1936
173,483
1935
1936
58,339,819 Accts.
16,576.851
6,453,176
&
drafts
payable:
Trade
6,446,534
954,615
560,571
Other
164,728
Wages
of
payable-
Due from assoc.
in consolidate
209,300
216,085
6,047,206
790,043
454,073
4,739,023
4,351,942
Materials & supor
b
Metal
stocks
treated
on
Pay.
ment
charges.
f Ore &
Payable
51,473,288
concen¬
Pay.
trates on hand
2,353,366
to Dec.
31, 1946.
tomers on ores,
taxes
not settled for
1,065,201
175,322
and
Miscell. deferred
chargas
317,278
322,812
Spec, deposit for
called
bonds,
incl.
prop,
5,087,475
'
85,600
of
Profit
5,645,434
Present
and
18,400,000
18,299,400
20,182,324
11,572,415
sec.
loss
pledged
mtge. and 1st
shares.
The first mortgage
c
Property
Goodwill, pat'ts,
licenses, &c._
Investments
...
bonds
on Oct.
17 will pay a second liquidating dividend of 30%
the company's 6% bonds, except those owned by Amoskeag Co. and on
the
merchandising and general claims.
With the initial 30% dividend
paid Sept. 28 total payments will be brought to 60%.
Before the Oct. 15 deadline, it is expected that Amoskeag Industries,
Inc., will pay over $4,500,000 to the trustees to complete its $5,000,000
payment for the Manchester properties.
Once these funds are in hand,
another liquidating dividend should be announced soon.—V. 143, p. 2197.
A. P. W.
Paper Co.,Inc.
1935
1934
$3,052,739
$2,936,585
1,958,618
1933
$2,714,471
1,811,330
$913,628
7,715
Cost of sales
4,458,891
18,423,749
$869,644
14,800
$977,967
19,776
$903,141
<11,018
$921,343
160,513
636,972
200,315,
$884,444
160,491
637,917
204,633
1,756
$997,743
98,903
639,001
207,724
2,761
2,067
$914,159
99,320
596,335
212,434
2,011
$120,354 prof$47,284
prof$4,058
158,207
$0.30
156,320
$0.02
Grossprofit
Other income
Total
...167,227,531 174,992,6361
Total
167,227,531 174,992,637
face value of $5,000,000 temporarily deposited
and first
quotations, $9,381,723).
b Valued at the lower cost or market
except that refined metals sold under
firm contracts for delivery after June 30 are valued at sales contracts prices,
c Segregated and valued as of Dec.
31, 1934 in accordance with authority
and direction of the stockholders at a
special meeting held on May 21, 1935:
Plants, mines and other tangible properties, $52,087,099; additions at cost,
since Dec. 31, 1934, $5,550,794; total, $57,637,893; less
depreciation, ore
depletion property sold and property retired since Dec. 31, 1934, $7,938,702. d Notes payable for property purchased, due after 1936, $400,000;
notes of Federated Metals Corp., payable six months after demand to*
American Smelting & Refining Co., trustee under employees' pension plan,
$2,082,288; redemption account—American Smelting & Refining Co.,
series "A" 5% first mortgage bonds maturing April 1, 1947 called
(cash in
special deposit account), $102,400; Federated Metals Corp., 7% conver¬
tible sinking fund bonds maturing June 1, 1939, called, incl. premium
(cash in special deposit account)—contra, $3,075; miscellaneous suspense
accounts, $360,969; minority interest in subsidiary companies included in
consolidation, $180,245.
e Metal stock, $12,54Q,581; extraordinary obso¬
lescence, contingencies, &c., $2,304,616; mine and new business investiga¬
tions, $366,416; other, $971,434.
f Ores and concentrates on hand at com¬
pany mines and in transit to smelters, at cost of production or conservative
values based on existing contracts for their sale.—V. 143, p. 1863.
a
Including bonds having
a
with the trustee under the mortgage securing the first mortgage
lien 4% bonds (valuation based on June 30, 1936
American Reserve Insurance Co. of N. Y.—Extra Div.—
The directors have declared an extra dividend of 25 cents per share on
the capital stock, par $10, payable Nov. 2 to holders of record Oct. 1.5.
A similar extra dividend was paid oirMay 1 last and on Nov. 1. 1935.
The
regular semi-annual dividend of 50 cents
per
last.—V. 142, p. 2814.
share
was
Total earnings
Prov. for depreciation.
Gen. admin, expense
Int.
Int.
funded debt
on
unfunded debt..
American
&
Telephone
Telegraph
Under-
Co,—17
Oct. 1, 1961, for which a registration statement was Tiled on Sept 24 under
the provisions of the Securities Act of 1933.
The remaining $25,000,000
of the issue will be sold privately, without underwriting, to the trustee of
.
the pension funds of the company and certain of its subsidiaries.
Of the debentures to be sold to the public, $25,000,000 has been
allotted
Morgan Stanley & Co., Inc., $12,500,000 to Kuhn, Loeb & Co. and
$10,000,000 to Kidder, Peabody & Co.
to
Other allotments
are as
follows
First Boston Corp
Brown Harriman & Co., Inc..
Edward B. Smith & Co..
Lee Higginson Corp
Blytk & Co., Inc»
Mellon Securities Corp
Dillon Read & Co
Bonbright & Co., Inc
Lazard Freres & Co., Inc
Clark Dodge <fc Co
Domlnick & Dominick
Goldman Sachs & Co
...
Harris, Hall & Co
Hayden Stone & Co
W. E. Hutton & Co
Lehman Brothers
F. S. Moseley & Co
J. & W. Sellgman.
$9,000,000
9,000,001
9,000,000
6,000,000
5,000,000
5,000,000
5,000,000
4,000,000
4,000,000
Charles D.Barney & Co.
1,000,000
1,000,000
1,000,000
Coffin & Burr, Inc
1,000,000
R. L. Day & Co
1,000,000
Estabrook & Co
1,000,000
Field, Glore & Co
1,000,000
Graham, Parsons & Co
1,000,000
Hallgarten & Co
1,000,000
2,000,000 Hemphill Noyes & Co...
1,000,000
2,000,000 Ladenburg, Thalmann & Co.. 1,000,000
1,000,000
2,000,000 G. M.-P. Murphy & Co.
1,000,000
2,000,000 W. H. Newbold's Son & Co
1,000,000
2,000,000 Paine Webber & Co
1,000,000
2,000,000 R. W. Pressprich & Co
1,000,000
2,000,000 Saldman Brothers & Hutzler.
2,000,000 Schoellkopf, Hutton & Pomeroy, Inc
1,000,00k)
2,000,000
1,000,000
2,000,000 Speyer & Co—
1,500,000 Stone & Webster and Blodgett,
Inc
1,000,000
1,500,000
; 1,000,000
1,500,000 Spencer Trask & Co
1,000,000
1,000,000 Tucker Anthony & Co
Cassatt & Co., Inc
E. W. Clark & Co....
.
...
White, Weld & Co....
Hornblower & Weeks
Jackson & Curtis
Dean Witter & Co
Bancamerica-Blair Corp
—V. 143, p. 2197.
AmericanW^ffing Paper Co., Inc.—Amendments to Plan
A pproved
byftfourt—
♦
After
a hearing in the U. S. District Court ,at Boston, Oct. 8, Federal
Judge George E. Sweeney approved amendments to the plan of reor¬
ganization under Section 77-B of the Bankruptcy Act.
Judge Sweeney
round the proposed changes are not materially adverse to the interest of
any creditor or stockholder of the debtor and should be incorporated as
amendments to the plan.
►•Objections to the original plan of reorganization dated Dec. 30; 1935,
were raised by some first
mortgage bondholders and preferred stockholders'
groups.
P. L.
Stackpole, of counsel for the company, said:
"Now that all objections to the plan appear to have been removed, it is
expected that acceptances from the different classes of creditors and holders
of securities will be received in the requisite amount in the near future so
that application to the Court can soon be made for a formal decree of con-i
firmation."
Principal Changes in Plan
The principal changes in the original plan of reorganization are: Deletion
of the proposed issue of second mortgage bonds; increase in authorized
158,207
158,215
Nil
President;,
Nil
says:
The directors declared the consolidation of plants plan closed on
Aug. 10,
1936 to further participation on the part of its bondholders and noteholders
and the
following percentages of the company's outstanding securities have
agreed to the provisions of the plan: First mtge. bonds 50.1%; 6% deben¬
tures, 98.8%; and $74,055 has been subscribed by stockholders.
Both the
unassented 1st mtge. bonds and the Albany Perforated Wrapping Paper Co.
1st 6s 1948 with warrants are listed on the New York Stock Exchange.
To obtain the additional money needed to carry out the plan, the stock¬
holders on July 29, 1936 voted to have the company issue not to exceed
$130,000 3)4% 10-year registered conv. notes.
The necessary details are
being arranged.
Comparative Balance Sheet June 30
Assets—
1936
Liabilities—
1935
Prop., plant & eq.
(less reserve)...$4,665,922 $4,568,244
Exp. in connection
c
1936
Common stock_x$l ,467,688
1st
mtge.bonds
b2,665,000
155,905
17,249
215,420
Gold notes
b672,3l3
6% jr. lien notes..
111,000
Interest accrued60,347
Accept, payable..
65,254
277,932
307,108
Reserves
79,657
9,011
1,377,463
28,173
583,809
1,377,463
Other accts. rec
4,755
Prepaid charges
13,310
5,966
28,070
with
for
plan
consol. of plants
1st
a
The company filed on Oct. 8 with the Securities and Exchange Com¬
mission an amendment giving the names of 47 underwriters who will dis¬
tribute $150,000,000 of the $175,000,000 issue of 3)4 % debentures, due on
$77,062
Earnings per share.
Ledyard Cogswell Jr
^
{
j
stk. outstand.
com.
(no par)
—
Accts.rec.
writers Named—
•
605
Net loss
Sbs.
Cash
'
_
2,183,095
Federal income tax
paid on Aug. 1.
,
on
-Earnings-
1936
$2,920,639
2,007,011
Years End. June 30—
Net sales
17,325
50,596,675
4,414,385
19,253,830
to be used as collateral to secure a loan
143, p. 2038.
are
Amoskeag Mfg. Co.— To Pay 30% Oct. 17—on
6,629
25,859
49,699,191
new
stock to receive one share of new common for each 20
from the Federal Reserve Bank.—V.
Interplant accts.
in transit
cumulative preferred stock to receive one share of
stock.
common
The trustees
the/ 1st
lien bonds...
Present
50,000,000
18,400,000
18,299,400
'6%
for each two shares of existing
common
938,049
3,183,070
20,195,019
36,383,300
2nd
surplus
of Existing Securities
general mortgage bonds and 56 shares of new common stock.
Holders of unsecured debt as of June 25, 1934, to get 25% in cash and
20% in general mortgage bonds; also five shares of common stock for each
$100 of debt as of June 1, 1936. Holders of debt less than $100 to get cash
in full.
und^rthe mtge
"
Treatment
.
50,000,000
cumul.
_.
...
release
stock
pref. stock.
Common stock.
prem.
contra
For
6,270,334
treat¬
charges
(metals treated
6%
company.
amount of new
1,139,725
1,195,855
d3,128,977
Reserves..
el6,183,047
679,036 Bonds outstand'g 22,959,000
7% cumul. pref.
408,000
new
$1,000,000 secured notes, in two series of $500,000 each.
$3,040,000 general mortgage convertible bonds, due Jan. 1, 1961. (For
a period interest rate on these bonds wilbbe determined by an "valuable
income formula" but later the interest rate will become fixed at 6%).
750,000 shares of common stock without par value.
*
Each $1,000 of existing first mortgage 6% bonds to receive $500 principal
toll basis).
Miscell. liabil
1,062,843
exp.
as
for the
914,970
on
Prep'd taxes, ins.
and royalties.
Capitalization
plan the new company will have the following
$1,000,000 first mortgage 20-year 6% bonds to be used
collateral for secured notes to be sold after consummation of the plan to
com.
est.)...
Unearned
ment
173,530
exam,
develop,
1,979,903
due
after 1936
Mine
875,000
due (U. S. and
foreign income
&c., reciv. but
rec.,
on
con¬
-
j
(
amended
the
1,104,000
Accrued taxes not
$
concentrates,
Notes
875,000
276,000
6%
stock.
2,600,471
Advance to cus¬
on
2d pref. stk.
58,374,399
41,560
454,791
63,432
7%
on
pref. stock.
unearned treat¬
company
provide cash for payment of secured notes, or to be sold to provide cash
Divs.: Unclaimed
toll basis) less
545,844
21,665
229,590
33,711
Unclaimed
Acer., not due
(not incl. met¬
als
352,068
bonds:
on
new
capitalization:
not contr'ed
or
Int.
& plies—at cost
less
$3,040,000 and
shares will be reserved for
stock at the rate of
bonds on or before
Dec.-31, 1941; into eight shares to June 30, 1944, and into 6 2-3 shares up
Under
whether
sol.,
from $2,840,000 to
The general mortgage bonds will be convertible into
10 shares of stock of each $100 principal, amount of
not incl. in con-
>
mortgage bonds
increase in the authorized number of shares of stock of the
Due to assoc. cos.
incl.
not
1*008.
2357
general
from 450,000 to 750,000 of which 304,000
version of general mortgage bonds.
-^"Liabilities—
5
Chronicle
less
res.
55,953
mtge.bds.purch
for sinking fund.
Securities owned.
Inventories..
Total....
a
_
_
27,631
471,022
$7,242,878 $7,027,186
Prov.
pay.
for
107" 931
1,481,602
Accounts pay., &c.
accrued accts..
Notes
Halifax Power &
Pulp Co., Ltd..
...
1935
$1,467,588
2,721,000
672,413
(Bank)
Fed.
34,513
1,371,994
218,029
122,838
37,500
in¬
come tax.
3,000
Prov. for process'g
taxes
Surplus..
Total
18,891
461,146
510,018
.$7,242,878 $7,027,186
The notes receivable due from Halifax Power & Pulp Cou Ltd. (a former*
subsidiary) although due on demand, are in effect unsecured capital loans,
the liquidation of which is dependent chiefly on the operating results
(heretofore generally unprofitable) of the debtor company.
A. P. W. Paper
Co., Inc. has agreed to accept a 2d mtge. for $1,100,000 in settlement of
the $1,221,863 income note but because of the restriction contained in an
agreement dated Jan. 22, 1935 between A. P. W. Paper Co., Inc., Halifax
Power & Pulp Co., Ltd. and Nova Scotia Power Commission, the settlement
of the income note cannot become effective without the consent of the latter
until after the expiration of the agreement of Jan. 22, 1935.
For this
and for the further reason that the reduction of $121,863 in the note
a corresponding increase in the book value of the common stock
Ltd. (practically all of the authorized issue of
which may, under existing agreements, be acquired by A. P. W. Paper Co.,
Inc. for a maximum cash outlay of $15,000), it it not considered practicable
at this time to make any appropriate adjustment of the amount at which
the indebtedness of Halifax Power & Pulp Co., Ltd. is carried.
b At June 30, 1936 the holders of $1,313,000 of the 1st mtge. & coll.
trust 20-year 6% sinking fund gold bonds and $662,687 of the 6% conv.
gold notes then outstanding had assented to the plan for consolidation of
plants (now in progress).
The 6% conv. gold notes and the 6% junior lien
notes are secured by a mortgage on the property covered by the 1st
mtge.
& coll. trust 20-year 6% sinking fund gold bonds and junior thereto.
The
authorized 6% conv. gold notes unissued as at June 30, 1936, $260,000,
have since been authenticated by the trustee and pledged as security for a
loan of $80,000 from American Public Welfare Trust.
Subsequent to
June 30, 1936, the company authorized the creation and issue of its 3)4%
10-year registered conv. notes to an amount not exceeding $130,000.
Company represents that upon the issuance of these notes the above loan of
$80,000 will be repaid and that the $260,000 of 6% conv. notes will then be
pledged with the trustee under the trust agreement securing the 3)4%
10-year registered conv. notes.
The option of American Public Welfare
Trust to purchase at par the aforementioned 6% conv. notes has been
extended for a period of 90 days from and after full payment of the 3)4%
10-year registered conv. notes, or, in the event that the company shall for
any reason fail to issue said notes then the option
shall continue for a
period of 90 days from and after repayment of the loan of $80,000 or any
renewal thereof,
c Since June 30, 1936 the number of shares of common
stock which the company is authorized to issue has been increased to 268,500
in order to provide for the conversion of the 3)4 % 10-year registered conv.
notes,
x Represented by 158,215 (158,207 in 1935) shares of no par value.
—V. 143, p. 2197.
reason,
will result in
of Halifax Power & Pulp Co.,
Athey Truss Wheel Co., Clearing, 111.—Stock Offered—
Co.,, Inc., Chicago, and Kalman & Co. of
F. A. Brewer &
Minneapolis and St. Paul, on Oct. 9 offered 50,000 shares
capital stock of this company, one of the leading manu¬
facturing companies in the Chicago district and the largest
Financial
2358
exclusive builders of crawler wheels for tractors.
is
Schedule of
Offering
Market Value
Description
Athey trailers or "wagons" are designed for carrying extremely heavy
loads over soft or rough ground, and are widely used in logging, pipe line
construction, sugar cane transportation, levee work, flood control and dam
construction, coal stripping, ore and rock hauling, and all sorts of excava¬
tion and road building projects.
Net earnings after taxes for the first seven months of 1936 ended July 31
were $200,091,
of which $149,000 was distributed in cash dividends, as
against net of $181,399 in all of 1935.
7Capitalization consists of 150,000 shares of capital stock, all outstanding
except 1,000 shares held in the treasury.
Balance sheet as of July 31 shdwed current assets of over six times current
liabilities, with no bonded debt, notes payable or obligations other than
current liabilities, and a contingent reserve of $15,420.
Cash on hand was
$233,766.
The company has paid total stock and cash dividends of $1,549,450
since the latter part of 1922, when the company was incorporated with a
(hid prices)
Sept. 1,1936
Cost
Amount
1936
10,
Investments—July 31, 1936
Principal
being made at $12.75 a share.
Associated Electric Co.:
$2,222
6,246
bonds, due 1953
5% bonds, due 1961
2,195
13,000
217,820
1983
Sinking fund income debentures, due
Associated Gas & Electric Corp.:
"
.
"
8,000
895,300
900,640
350,100
34,350
—
228,282
287,804
123,147
24,464
3,000
344,690
373,765
159.295
34,693
26,040
2]A% income debentures, due 1978
%% income debentures, due 1978
4% income debentures, due 1978
414% income?debentures, due 1978
8% bonds, due 1940
Utilities Employees Securities Co.:
Income notes, due 1981
3
19,587
19,009
$779,909 $1,065,916
___$2,468,550
Totals
principal
$655,570
of
total
6,375
109,436
Co.:
Fixed interest debentures
Note—A
$4,322
11,328
6,415
79,544
$7,000
16,300
43^%
Associated Gas & Electric
capital of $22,000.
Officers include J. A. Roberts, President; G. W. Roberts, Executive VicePresident, and A. D. Plamondon Jr.,
Oct.
Chronicle
amount of Associated General
due 1956, were outstanding at
Utilities Co. income bonds and debentures,
Vice-President.
July 31, 1936.—V. 143, p. 99.
Ry.—Abandonment—
Atlantic & Yadkin
The
Interstate Commerce
Commission on Sept. 24 issued a certificate
the company of a branch line of railroad,
approximately
11.31
general northerly direction to Madison,
all in Guilford and Rockingham Counties,
miles,
Atlas Powder Co.—$1.25 Preferred Dividend—
declared a quarterly dividend of $1.25 per share on
the preferred stock payable Nov. 2 to holders of record Oct. 20.
This
dividend, which compares with the previous quarterly rate of $1.50 per
share conforms with the reduction in preferred dividend rate from $6
annually to $5 annually voted on Feb. 24, 1936.—-V. 143, p. 910.
The directors have
Armour & Co.
-—Discrimination
(111.)—Packers Charged with Unfair Trading
Charged—Hearing Called for Nov. 2—
Agriculture Department officials announced Oct. 5 that retail and whole¬
Y. City would appear as Government witnesses in
sale meat dealers in N.
support
of charges that the
violated the Packers and
Swift and Armour packing companies had
Stockyards Act.
major packers were notified of the charges and a hearing in
N. Y. City, Nov. 2.
The complaint charges that both packers in their "own name, and through
various subsidiaries operating under various names," had violated the
Federal Act in New York, and at other places between Jan. 1, 1934, and
The
two
Sept. 1, this year.
The notice charged that the packers had
and Brady Enterprises, Inc. for a
reorganization plea of the company.—V. 143, p. 2199.
of the
Bangor & Aroostook
used "certain unfair, unjustly
First Mortgage Washburn Extension 5% Bonds
$1,565,000 Bangor and Aroostook RR. Co, St.
Extension 5% Bonds due Aug. 1, 1939.—V. 143, p. 2039.
RR.
Co.,
and
1939,
in
force.
Fixed charges
Div. on pref. stock
—V.
on com.
stock
$2,141,353
728,601
244,200
174,638
366,147
305,789
177,393
714,211.
291,450
149,051
366,866
305,799
202,734
$13,592
$144,582
$31,762
143,"p. 1865.
Bath
Iron
See list given on
Works Corp.—Registers with SEC—
first page of this department.—V. 142, p. 1806.
(N.) Bawlf Grain Co., Ltd.—Earnings—
19,824
98,667
;
adjustments. _
adjustments
Profit & loss surplus.
After
x
fees
of
expenses,
-
including executive sal;
$2,532,816 $2,611,377
61,100
14,772
Cash..
Accts.
receivable,
106,119
197,509
851,378
advances, &c...
x
Common stock..
Acer, taxes,
and coal
Life insur'ce,
stock...$1,995,500 $1,995,500
60,000
60,000
Bank loans
1,681,100
353,200
Accounts payable.
251,196
271,647
Preferred
2,026,970
Inventories of grain
8,594
17,341
7,314
137,666
132.958
29,369
surrender value.
Prepaid expenses..
partly
Bawlf
296,425
378,011
25,000
process
Total
x
-
of Large
$3,705,714 $5,054,570
Represented by 60,000 shares of
See list given on
no par
value.—V. 141, p. 2269.
Corp.—Registers with SEC—
Beech Aircraft
first page of this department.—V. 143, p.
Stockholders at
2199.
Co.—Stock Split Voted—
Belden Mfg.
a
approved a proposal to split
stock into 10 shares of $10 par value each.
recent special meeting
1865.
Beneficial Industrial Loan Corp —Extra Dividend—
declared an extra dividend of 25 cents per share
quarterly dividend of 37 H cents per share on
the common stock, both payable Oct. 30 to holders of record Oct. 15.
Similar disbursements were made on Jan. 30, last.—V. 143, p. 910.
The directors on Oct. 2
*
dispatches is trying to work
plan whereby the corporate structure may be simplified in order to
the increased tax liability under the new law which penalizes
intercompany transactions.
»
i
Refinancing of the $37,500,000 of Illinois company 4H % 1st mtge. bonds
is being planned while the $8,735,000 Morris & Co. 4^s have been called
and no longer are a factor in the debt picture.
Simplification of the company's many small and several large subsidiaries
out a
eliminate
a difficult problem.
A modernized corporate structure would
of the $57,700,000
7% guaranteed preferreds of the Delaware company, a proposal which long
has been in the mind of the management.
F. H. Price, Chairman, some
time ago said it had to be among the next steps toward improving the
presents
involve the refinancing or elimination through exchange
finances of the company.
In addition to the Delaware preferred issue there is
outstanding $53,270,000 of Armour of Illinois $6 dividend cumul. (ho par) prior pref. and some
of the old 7 % pref. which has failed of exchange for the perior issue. Then
there are approximately 4,100,000 shares ($5 par) common stock of Illinois
company.—V. 143, p. 1550.
Associated General Utilities Co.—Statement
335,000
296,425
383,415
$3,705,714 $5,054,570
each share of company's $100 par
Plans—Refinancing
300,000
Capital surplus...
Operating surplus.
ships
Const. & repairs in-
40,000
Terminal
Elevator Co
-
11,933
10,930
40,000
estimated
Special reserve
1st mtge. bonds of
cash
1935
1936
Liabilities—
1935
1936
Assets—
—Y. 143, p.
tax.
of Income—
(Based on annual interest income on securities owned, and annual interest
requirements on bonds and debentures of the company outstanding, as of
July 31, 1936)
Annual income: Interest on investments
"
$101,811
8,607
7,814
addition to the regular
in
Berghoff Brewing Corp.—Extra Dividend—
The directors have declared an extra
Berkshire Fine Spinning Associates—Wage Increase—
company on Oct. 2 announced a 5% wage increase, effective on
employees in nine plants in Warren, Albion and Anthony.
I., Brattleboro, Vt., and Adams, North Adams and Fall River, Mass.—
The
Oct. 5 for its 3,000
R.
V.
141,
Best
p.
3218.
Drug Stores, Inc.—Registers
See list given on
Birtman Electric
The directors have
Co.—Extra Dividend—
declared an extra dividend of 25 cents per
share in
quarterly dividend of like amount on the common
stock, par $5, both payable Nov. 2 to holders of record Oct. 15.
Previous
extra distributions were as follows: 25 cents Aug. 1 and May 1, last; 10
cents on Aug. 1, 1935; 25 cents on Feb. 15, 1935, and 10 cents on Feb. 1,
addition to the regular
1867.
(Sidney) Blumenthal & Co., Inc.—Tenders—
for tenders of the 6% 25-year sinking fund bonds
of its subsidiaries, at a price not to exceed
amount not to exceed $67,879.
Tenders, together
with all unmatured coupons, must be deposited with Brown Bros. Harriman & Co., New York City, agent, not later than 12 o'clock noon, Nov. 4,
1936.—V. 143, p. 745. ,
The company is asking
$32,944
with SEC—
first page of this department.
of the Saltex Looms, Inc., one
32,778
19,667
dividend of 25 cents per share and a
quarterly dividend of like amount on the common stock, par $1, both
payable Nov. 16 to holders of record Nov. 5. Similar payments were made
on Aug. 15 last, these latter being the first dividends paid since March 1,
1934, when a quarterly dividend of 30 cents per share was distributed.
—V. 143, p. 1865.
1935 —V. 143, p.
$85,389
„
Annual int. require, on outstanding inc. bonds and deb. (int.
is payable only out of available net income, as declared by the
Board of Directors):
_
$403,508
■
$383,415
$378,012
,
all
deducting
the
$416,551
17",060
_
also requested that the Court declare the "windfall tax"
within the power
Mr. Simmons said it was an income tax of 80% against the
$24,402,614 in impounded processing taxes which the Government returened
to the three packers after the AAA ceased to function.
The plaintiffs
sought temporary injunctions restraining the packing firms from paying
Balance....
432,793
$403,508
$30,747.
Fixed assets
The plaintiffs
_
loss$29,286
403,508
4,149
Adjustment to surplus.
of Congress.
Regular at 5%, cumulative
Extra at 3 %, non-cumulative
$13,044
$416,551
$417,615
17,140
$383,646
1,485
for prior years
unconstitutional on the grounds that its imposition was not
Balance
$1,063
416,551 >
Total
General expenses
Taxes
7",520
4,800
Income tax
included in the price they paid for meat.
v
"
"
""267
>"""500
$231
383,415
—
Total surplus
processing tax was imposed
processing tax was invalidated with the AAA.
packing companies tolcLtheir customers that the processing tax
Working on Simplification
Likely—-
51,671
141,525
9",685
profit
Previous surplus
and went down soon after the
Armour & Co., according to Chicago press
I
1,750
Sundry property adjust Prov. for inc. tax (est.)_
Invest. & member-
Issues
33,993
}
72,330
Directors' fees...__
Property
$63,898
25,865
(22,0711
)
bond)
int. & bondredemp__J
Depreciation
U. S. A. exch. on
Net
$194,919
$97,482
x$119,222
Bond interest
1933
1934
1935
1936
Years Ended July 31-
cultural Adjustment Act, to their customers.
That wholesale prices went up soon after the
That the
-
Depreciation
$182,734
61,216
29,850
10,453
27,657
25,483
14,481
$19,846
Operating expenses
Taxes accrued
Div.
li
$2,061,874
$190,317
44,234
12,500
23,795
46,356
25,482
18,101
Comparative Consolidated Balance Sheet July 31
To support the contention that the processing taxes should be returned
to the customers, the plaintiffs contended;
That the pricessors passed on the processing tax, levied under the Agri¬
was
Aroostook
due Aug. 1,
John River
Bangor Hydro-Electric Co.—Earnings—
30—
1936—Month—1935
1936—12 Mos.—1935
Period End. Sept.
Gross earnings
for $113,640,652 Tax—
Suits to force three of Chicago's huge packing companies to return
$113,640,652 allegedly paid to them by their customers in the form of
processing taxes were filed in the Federal District Court in Chicago, Sept. 23.
The actions naming Armour & Co., Swift & Co., and Wilson & Co., Inc.,
Were filed by the Major Taylor Market House, Louisville, Ky., and Abe
Cohen, operator of the New Deal Food Market in Louisville.
Greenberry Simmons of Louisville, attorney for the plaintiffs, said the
suits were brought in behalf of about 350,000 wholesale and retail dealers
throughout the Nation who transacted business with the three packers
from Nov. 6, 1933, to Jan. 6, 1936, the period in which the processing tax
was
consolidated refunding
consolidated re¬
Exchange
Balance
practices and devices in the sale and handling
of meats and meauood products in commerce."
The Government contended that both companies had made "reciprocal
arrangements and promises with C. H. Sprague & Son, Inc." identified as
an operating company and agency for freight and passenger steamships.
The agency, the Government said, was required to buy neat and meat
products "only from" the packing companies.
In exchange the packers
were said to have agreed to give "shipments of freight."
The Swift com¬
pany also was said by the Government to have made a similar agreement
with the International Mercantile Marine Co.
The complaint involving both packers said they "did threaten expressly
or impliedly to withdraw or withhold large freight shipments" unless the
steamship agency "promised to purchase requirements of meat and meat
food products in whole or in part."
There also was an agreement, the Government contended, that the
steamship agency "would accept no bids from other vendors or purveyors
of meat food products without consent" of the packers.
The Swift interests also were charged with "falsely representing to retail
customers of various members of the New York Association of Meat,
Poultry & Game Purveyors, Inc.," that retail meat dealers in the association
had attempted to prevent Swift from selling to retail customers.
The complaint said that "these false and misleading statements caused a
great loss to various members of said association."
The Government said that buyers of small quantities of meat had ob¬
tained the same price advantages as buyers of large quantities.
There
were
credit discriminations, the Government
asserted, which allowed
some customers from 30 to 90 days to pay bills while others wre required to
pay in from five to seven days.
RR.—Collateral Held—
Trust Co., as trustee under the
The Old Colony
dismissal
mortgage deed dated July 1, 1901, securing company's
funding mortgage 4% bonds, has notified the New York Stock
that it now holds the following securities: $1,480,000 Bangor and
discriminatory andxieceptive
Meat Packers Sued
B. Dickinson on Oct. 3
Federal Judge Oliver
petition of William A. Brady,
N. C.—V. 141, p. 424.
1
Works—Decision on Plan Reserved
reserved decision on the
Baldwin Locomotive
,
permitting the abandonment by
extending from Stokesdale in a
85 and interest, in an
Volume
Blue
Financial
143
Diamond
Chronicle
Corp., Ltd.—Earnings—
Bulova Watch Co.,
Earnings for 8 Months Ended Aug. 31, 1936
Net sales
Cost of sales and delivery expenses (incl. deprec. &
deplet.)!"
Gross profit
..$2,571,354
2,192,232
Inc.—Deposit Time Extended—-
The period within which the $3.50 convertible preferred stock may be
deposited for exchange under the plan of exchange dated Aug. 24, 1936, has
been extended to 3 o'clock p. m., on Oct. 14, 1936.—V. 143, p. 2200.
-
$379,121
164,053
_
Selling and general and administrative expenses
Profit from operations
$215,068
14,750
Interest and other income credits
Gross income
2359
$229,819
19,966
18,119
35,547
„
~
Interest
Provision for uncollectible accounts (less recoveries)
I
"III
Provision for Federal income and California State franchise taxes-
(F.) Burkart Mfg. Co.—Initial Dividend
$156,186
stock
July 1, April 1, and Jan. 2, last, this latter being the initial pay¬
on
ment.—V. 143, p. 2042.
California Water Service Co.-
Accts.
& notes rec.
(less res.,
value
surr.
of life insur.
3,025
904,442
Property
b Plant
mach.
structures,
equipment
^principally
maturing in
506,982
1
31,663
Deferred charges.-
$186,993
1,005,297
62.000
one year
73,558
maturing Dec. 1, 1937-43-_
397,500
for
workmen's
compen.
insurance, &c
c
Common stock
47,403
1,000,000
468,597
-
Paid-in surplus
Earned surplus (since Aug.
$2,441,418
After
of Registration
The Securities and Exchange Commission upon the request of the regis¬
trant received on Sept. 26, 1936, has consented to the withdrawal of the
registration statement filed March 7, 1936.
Co.—Earnings—
Years End. June SO
1936
1935
$444,110
412,934
14,693
$424,803
405,238
12,966
$16,483
Manufacturing profit
Selling & adminis. exps. excl. of deprec. & taxes.
Deprec. Fed., State, County & British taxes;
$6,597
2,475
1,774
Profit
Profit
on
sale of securities
Interest
911
Misc. income
Canadian National
4,771
;
Total profit
.
Net profit-
$17,710
3,357
Preferred dividends
Gross earnings.
—V. 143, p. 2200.
Canadian Pacific
$6,355
1935
$41,068
10,483
320,699
3,850
266,845
$21,477
10,483
303,389
9,175
financial
2,267
2,694
58,346
87,627
$803,054
$767,058
Bid deposits.
Mdse. inventories.
Cash
val.
Fixed assets
Def. chgs. & advs.
Total
x
Notes payable
Accounts payable.
would
be unable to bear"
29,702
223,800
300,000
Common stock
$5,916,339
79,725
28,316
223,800
300,000
83,179
Inc.—Accumulated Dividend—
a dividend of 50 cents per share on
conv. class A stock, par $100,
Similar payments were made
payable Dec. 1 to holders of record Nov. 14.
on Sept. 1, June 1 and March 7, last.
A dividend of $1 was paid on Dec. 1,
1935—V. 143, P. 746.
Sept. 28 declared
of accumulations on the $2 cum.
Carpel Corp.—Larger Dividend—
This
with dividends of 40 cents per share paid each three months
from April 15, 1935 to and including July 15, last; 25 cents paid each
quarter from April 1, 1933 to and including Jan. 15, 1935, 37H cents per
share in each of the three preceding quarters and 50 cents per share each
Total
$803,054
$767,058
1936 and $47,939
share
$100,
on account
Corp.—Earnings—
9 Months Ended—
Income—Cash dividends
Oct.
on
previously.—V. 140, p. 2349.
Carriers & General
Of accumula¬
1 to holders of
record Sept. 25.
A like payment was made on Oct. 1 and April 15, last.
A dividend of $3.50 per share was paid on Jan. 2. 1935 and on Nov. 1, 1934.
The company also paid $3.86 on May 1,1934; $3.50 on April 2, 1934 and
$1.75 per share on Jan. 2, 1934.—V. 143, p. 745.
Interest
on
bonds
Interest
on
bank balances
—
Sept. 30, '36 Sept. 30, '35 Sept. 29, *34
$214,566
$111,302
$107,954
42,840
40,142
63,089
10
$257,406
29,745
Management fee.
Fees of custodian, registrar, transfer
Tne directors on Oct. 7 declared an extra dividend of 50 cents per share
in addition to the regular quarterly dividend of like amount on the common
agent and dividend paying agent-.
Legal and auditing fees
:—
both payable Oct. 31 to holders of record Oct. 17.
Similar payments were made on July 30 last;
A special dividend of 50
cents was paid on Dec. 31, 1935. and an extra of like amount was dis¬
tributed on Oct. 31, 1935—V. 143, p. 1221.
Federal and State taxes
value,
Int. on 5% debs, and amort,
discount and expenses
14,184
3,761
8,540
2;421
4,190
$63,587
$109,433
$121,551
Net loss on sales of investm'ts (eom-
prof386,066
411,601
735,664
loss for the period-_prof$449.653
Operating deficits, Dec. 31—
8,154,005
Capital surplus balance, Dec. 31
14,137,623
Excess of amt. of cash rec. & value
ascribed to securities acquired
0315,480
$302,168
7,816,698
14,137,623
$614,112
6,961,918
14,137,623
$6,748,752
88,179
$6,018,756
83,901
$6,561,592
83,901
pany
puted on basis of average cost)
Net operating
Inc.—Change in Personnel—
Treasurer and C. P. Evans, Secretary,
succeeding H. S. Hutchins, resigned, formerly Secretary Treasurer.
T. F. James, formerly sales manager, who retired June 1, last,
12,557
4,350
6,658
83.063
4,618
Net income
The Chicago Stock Exchange has approved the application of the comto list 279,764 shares of common stock, $1 par, to be admitted to
trading on official notice of issuance and registration under the Securities
Exchange Act of 1934, subject to the filing or an amendment to the articles
of incorporation in the State of Delaware.—V. 143, p. 1715.
$171,053
18,826
of deb.-
Other expenses
Co.—Application Approved—
$151,445
16,025
15,444
4,791
56,159
Total income
Briggs Mfg. Co.—Extra Dividend—
Brown Shoe Co.,
the com¬
stock, no par value, payable Oct. 15 to holders of record Oct. 6.
compares
quarter
L. W. Lindsey has been elected
rrpn VP
' $770,309
Co.—Registers with SEC—
Carman & Co.,1
The directors on
account
Corp.—Accumulated Dividend—
Brown Fence & Wire
$5,146,030
The directors have declared a dividend of 50 cents per share on
The company paid a dividend of $1.50 per
on the 7% cum. preferred stock,
par
par
Tn
1 Q9f\
1 QQA
mon
tions
no
Beatty,
Earnings of System from Sept. 21 to Sept. 30
Gross earnings.—
—V. 143, P. 2201.
$52,038
98,412
After depreciation and amortization of $12,789 in
stock,
Sir Edward
Eaid $18,201,640 in pensions. Under the new plan rates of pensions will
in 1935.—V. 141, p. 1927.
Brandon
it
e practically unchanged and the pensioning age will be the same as now.
The plan embraces all branches of the company's services as well as sub¬
sidiary companies.
It will be administered by a board of seven, including
four company^officers and three representing organized classes of employees.
Cannon Shoe
110,101
Accrued liabilities.
Preferred stock
263~839
burden which
non-contributory pension system will be replaced as from Jan. 1, 1937, by
a new plan calling for contributions from eligible employees.
A joint committee of company and employees' representatives worked
out details of the new plan, which provides for contributions of 3% of their
earnings.
While the fund is being built up, the company will continue to
pay the larger part of pensions allowances.
Since the non-contributory system's inception in 1903, company has
1935
1936
$41,038
Surplus
'
Travel, ad vs., &c.
Invests, (at cost).
x
Liabilities-
officers'
life insurance...
Ry.—New Pension Plan—
See list fiven on first page of this department.
95,651
sees.
Accts. receivable..
$i4L000
President and Chairman of the board announced that the railway system's
.
6,250
1,518
1,160
63,290
Cash
Bonds & misc.
Tiprrpncp
$4,811,000
Due to "changes in conditions" which have made it clear that "continu¬
of the present sytem would eventually impose upon the company a
Balance Sheet June 30
1936
1QQ Pi
$4,670,000
ance
$10,847
4,492
$22,164
4,453
Interest, discount, &c..
Assets—
Ry.—Earnings—
Earnings of System from Sept. 21 to Sept. 30
$2,441,418
Blue Lake Gold Mines, Inc.—Withdrawal
Bobbs-Merrill
a dividend of 12
cents per share on the
capital shares, payable Oct. 15 to holders of record Sept. 30.
This
with 10 cents paid each three months from July 16, 1934, to July
16, 1936; lUi cents paid April 16, and Jan. 15, 1934, Oct. 15 and July 15,
1933; 10 cents paid on April 1 and Jan. 2, 1933 and on Oct. 1 and July 2,
1932; 15 cents paid on April 2 and Jan. 2, 1932; 20 cents paid on Oct. 1,
1931, and 10 cents per share paid quarterly previously.
In addition extra
dividends of 23^ cents per share Were paid on April 16 and Jan. 15, 1934.
—V. 141, p. 910.
1QQA
Total
for
reserves
1,016,939
compares
205,364
depletion and revaluation of $876,481.
b After res.
for depreciation and revaluation of $915,920.
c Represented by 1,000 no
par shares.
a
988,323
The directors have declared
31,
1935)..
Total..
1,149,665
1552..
no-par
Accrued taxes, wages and int..
1st mtge. serial 6% gold bds.,
Res.
&
-----
Goodwill, patents & trademks.
1933
$2,039,337
Canadian General Investments, Ltd.—Div. Increased—
curr.
1st mtge. serial 6% gold bonds
444,179
322,179
policy
a
pay.
obligations)
$65,727)
Inventories
Cash
Accts.
1934
$2,042,274
Balance before bond int.,
—V. 143, p.
Liabilities-r
$228,945
Earnings—
1935
$2,062,533
12 Mos. End. Aug. 31—
1936
Gross revenues
$2,267,269
depreciation, &c__
Balance Sheet, Aug. 31, 193!
Assets—
Cash-
New Stock—
stock, par $1, on Oct. 1 to holders of record Sept. 23.
The new
common stock was recently split up—three new shares being issued for one
old share.
Dividends of 75 cents per share were paid on the old common
-
Net income
on
The company paid an initial dividend of 50 cents per share on the new
common
Total surplus
was
replaced by Clark Gamble in charge of sales for the western division of the
United States, and Gillett C. Welles of the eastern division.
Mr. Gamble
Dividends declared
and
Balance.
$6,660,573
$5,934,856
$6,477,690
Company's portfolio on Sept. 30, 1936, consisted of 77 common and
preferred stocks and 17 bonds.
During the third quarter the following
issues were eliminated; Bangor & Aroostook, common, Chesapeake Corp.,
common,
National Dairy Products, common, and Continental Baking,
preferred.
Securities added to the portfolio: Common stocks—Cerro ae
Pasco Copper Corp., Doehler Die Casting Co., International Nickel Co.,
Skelly Oil Co., Texas Corp., F. W. Wool worth Co., and Skelly Oil Co.
6% preferred.
Balance Sheet Sept. 30
Mr.
Welles recently were
elected directors.—V. 142, p. 3840.
Burdine's, Inc.—Earnings—
1936
Purchase discounts
1934
$4,764,929
3,770,530
Cost of goods sold
1935
$5,609,503
Years Ended JulyM—
Net sales
3,239,786
090,934
$3,940,507
2.656,937
082,314
0116,100
-
$1,365,884
1,066,836
78,549
$1,616,077
Operating expenses
Depreciation
$1,955,073
1,402,291
85,878
Operating profit.
$466,904
$220,499
039,209
79,928
$299,503
035,035
43,972
$436,941
$4.32
$290,567
$2.65
$180,529
$1.43
Gross profit
1,244,170
72,403
049,965
Other income
Other deductions (incl. income
Net profit
Earnings
per
tax)__
:.
share
on common
801,362
$5,717,146
745,028
paying agent—
Rec. for sec. sold
30,106
27,967
delivered
29,266
Cash dlvs. receiv..
35,412
21,101
21,006
bl61,084
6,462
not yet
Cash
U. S. Govt,
secure.
Accts. <fe notes
rec.
Mdse. inventoryCash
surr.
$200,909
$312,202 Accounts payable
183,399
173,532 Accrued expenses
180,000
239,078 Mtge. payable
20,482
332,576 Reserves
y Capital & surplus 3,140,525
82.433
$141,477
387,620
324,800
358,743
.
9,689
84,074
Fixed assets
2,320,387
98,526
Deferred charges..
Total
x
105,714
$3,725,315 $2,985,171
by 17,132
(18,360 in
Total
$3,725,315 $2,985,171
y
Repre¬
$8,773
52,556
6,622
15-yr.
5%
debs.
due Nov. 1,1950 2,000,000
30,106
602,120
6,660,573
Dividend payable.
27,967
559,343
5,934,866
$9,412,090 $6,537,561
Total
The
(J. W.) Carter Co.—Registers with
See list given on
1936 and $988,442 in 1935.
6,330
aggregate amount of investments indicated by Sept. 30, 1936,
market quotations was $8,015,958.
b Deferred charges, including $151,396
unamortized debenture discount and expense.—V. 143, p. 746.
a
2,667,894
1935) shares of preferred stock and 90,005
1068.
shares of common stock.—V. 143, p.
$9,412,090 $6,537,561
Total
"13,096
97,801
After depreciation of $1,056.029 in
sented
received
not yet
Capital surplus.
$198,466
1,694,194
53,353
$60,405
Cap. stk. (par $1).
•
x
expenses.
1935
and
accrued expenses
Res. for sec. purch.
stk. & other tax.
19,950
1935
.
value
life Insurance
Other assets
Prepaid
1936
Liabilities
1936
Liabilities—
Accounts pay.
Prov. for Fed. cap.
Acer. int. on bonds
1935
1936
Invest'ts at cost-$8,333,759
Cash dep. with div.
79,179
Consolidated Balance Sheet July 31
^"Assets—
1935
1936
Assets—
a
Cash in banks
Celotex
Corp.—May Increase Preferred Stock—
The stockholders at a
increase
shares.
SEC—
first page of this department.
special meeting on Oct. 26 will vote on a proposed
preferred stock from 30,000 shares to 100,000
'
in the authorized
Financial
2360
Acquires Important New Product—
A'
basic acoustical product that combines sound-absorbing properties
features hitherto unavailable in such materials has been
new
with
structural
acquired by this company through the purchase for cash of the business of
the Calicel Co. of Marietta, Ohio, including plant equipment, patents,
trademarks, Sac.
The
acquisition marks an important step toward the completion of the
according to T. B. Munroe, Vice-President
corporation's acoustical line,
of Calotex.
Calicel,
as
the
product is known, gains its importance from its close
new
resemblance to marble and limestone in appearance and texture, although
it has only a fraction of their weight.
These qualities make it admirably
the so-called "monumental" type of construction used in public
buildings, railway stations, churches and the like, which are built almost
wholly of stone and steel.
In such structures, Calicel can be used for soundcontrol purposes without altering their architectural appearance.
It was
used liberally in the new Department of Interior Building recently erected
En "Washington, D. C.—V. 143, p. 2201.
suited to
Certain-Jteed Products Corp.—Exchange Time Extended
The company
has notified the New York Stock Exchange that the time
be exchanged for new 6% cum.
prior preference stock under option A, or for such new prior preference stock
and common srock under option B, of the plan of recapitalization has been
extended to and including Oct. 20, 1936.—V. 143, p. 1716.
within which the 7% cum. pref. stock may
Oct.
Chronicle
10, 1936
but capital stock," said Mr.
Brown.
"Private 6'wnership cannot be
preserved unless railroad common stocks are made and kept attractive in¬
vestments for the investing public.
In considering, plans now pending
before it, we think the ICC should and will keep this in mind in the account
of the duties and responsiblities placed upon it by the present law."
The hearing was adjourned in order that trustees for the Rock Island
might have additional time to complete studies of the system now under
way and dealing with physical conditions, cash requirements, operating
economies and general development.
Accordingly, Feb. 2 was fixed as
the date for resumption of the hearings.
More than a hundred exhibits were introduced in support of the manage¬
,
6 to bear out its contentions on income and expenditure
requirements, sources of revenue and securities outstanding.
One of these
ment's plan Oct.
Elaced theactual operations Rock Island at $13,666,367 for the current year,
net deficit of the for the first eight months and with estimates
ased
on
supplied for the remaining four.
In a brief explanation of the pending plan of reorganization proposed by
the management Mr. Brown said it proposed fixed interest, charges of ap¬
proximately $2,500,000 which included $1,235,000 in interest on the equip¬
ment trust certificates now outstanding; also interest on the $4,500,000
trustees' certificates issued in the current year and the $10,500,000 addi¬
tional
new
capital contemplated by the plan.
With present estimates indicating that the gross
income for the present
be approximately $78,500,000, he continued, a gross income of
this amount in normal years, with deferred maintenance restored, would
be adequate to protect the proposed fixed charges.
The average gross in¬
come for the last 15 years has been $116,000,000; the average net income
year will
mission
Central Hudson Gas & Electric Corp.—Files with SEC
Oct. 1 filed with the Securities and Exchange Com¬
a registration statement under the Securities Act of 1933 covering
70,300 shares ($100 par) 43^% cumulative preferred stock.
The company contemplates an offering to holders of its outstanding 5%
preferred stock to exchange such stock for the new preferred on a share-
available for interest has been $14,876,000.
"In view of the record shown by these figures, any fair mind must con¬
clude that.a fixed charge of $2,500,000 is easily within the earning capacity
of the Rock Island system," he declared.—V. 143, p. 2202.
Stockholders who agree to the exchange will also receive
$2.50 per share for each share exchanged.
The exchange privilege will
expire at a date prior to the effective date of the registration statement.
It is further stated that unless more than 50% of the holders of the out¬
The New York Stock Exchange has authorized the listing of $7,000,000
3K % guaranteed bonds due Sept. 1,1951, which are issued'and outstanding.
The corporation on
Chicago Union Station Co.—Listing—
for-share basis.
standing 6% preferred stock agree to the exchange, the 4^% cumulative
preferred stock will not be issued.
If the exchange is effected, the company
contemplates an agreement with underwriters for the sale of such shares
as are not exchanged at a price of not less than $102.50 a share.
According to the registration statement, the proceeds to be received bv
the company, together with such other funds as may be required, will be
applied to the redemption on Jan. 1, 1937 of all the unexchanged 6%
preferred stock at $105 a share.
The new preferred stock is redeemable as a whole or in part at the option
of the company at any time after 30 days' notice at $112.50 a share plus
accrued dividends if redeemed on or before Oct. 1,1946, and at $107 a share
and
accrued dividends thereafter.
The
names
of the underwriters are to be
registration statement.—V.
Checker Cab Mfg.
furnished by amendment to the
143, p. 2201.
Corp.—To Increase Stock—
notified the New York Stock Exchange of a proposed
value of capital stock from $5 to $1 per share and an increase
to 1,250,000; each present share to be
exchanged for five new shares.—V. 143, p. 423.
The company has
change in
par
in authorized shares from 250,000
\Chemical Research Corp.,
General Balance Sheet
1936
1936
Inv. in rd. &
Sinking
1,000
Other investments
600,245
1,059,664
28,868,727
Cash
Special deposits
Traf. &
car
affiliated
600,000
Audited acc'ts and
60
44
274
agents & cond'rs
Misc. accts.
cos...l2,959,963 15,173,442
Loans & bills pay.
217
wages
182,140
13,666
129,644
631,642
1,001*249
26,875,500
1,369,500
81,667
310,146
136,950
1,753,156
74,222
payable-.
Misc. accts. pay.*
Int. mat'd unpaid.
from
rec.
2,800,000
Non-nego. debt to
23,855
2,083,891
2,512,699
service
bals. receivable.
Net bal.
$
2,800,000
Long-term debt...68,800,000 69,100,000
Capital stock
eq..S3,8l6,852 83,809,675
funds
1935
$
Liabilities—
rec__
1,031,258
36,351
866,132
24,738
Funded debt mat.,
Material & suppl's
Rents receivable..
112
112
Unmat. divsvdecl.
Work, fund advs..
150
150
Unmat'd int. accr.
55,773
304,219
fund. dt_
1,267
441,789
Other unadj.debits
1,014,605
4,307
1,389,589
1,010,348
Ins., &c., funds..
-
unpaid
Rents & ins. prem.
paid in advance.
Disct.
on
Funded
debt
Total
p.
res..
Total
116,928,127 92,029,977
-V,. 143,
red.
thru.inc.& surp.
Sinking fund
The suit filed in Detroit recently by R.
81,667
277,917
Other curr. liabils. 1,345,475
Tax liability
1,881,814
Oth. unadj. credits
74,345
Detroit—Suit Dismissed—
J. Ravelle of Toronto against a
group of oil companies claiming $30,000,000 damages in connection with
a process of refining crude oil has been dismissed by Federal Judge Arthur
J. Tuttle.
The Court found that the plaintiff was not a stockholder of
the Chemical Research Corp., which one time alledgedly controlled the
process at the time the, alleged wrongs were committed.—V. 134, p. 1377.
July 31
1935
299,000
105,000
100,000
116,928,127 92,029,977
1554.
Chrysler Corp.—1937 Models—
The company will introduce an entirely new six-cylinder line for 1937,
addition to its present cars, it was disclosed on Oct. 5, by Walter P.
Chrysler, Chairman of the Board. The new cars are expected to be priced
just above the present DeSoto line, the lowest priced model, which sold
this year at $695 f. o. b. the factory.
The new car, it is expected, will start at about $700, offering a new com¬
petitor for the business in the lower medium price range.
Only details concerning the new car available were reports that its engine
is entirely new and has been designed for particularly economical operation
and that body design has been directed at the maximum of room and
in
Chesapeake & Ohio Ry.—Plans New Issues of Preferred
Stock and Extra Dividend Based on 1936 Earnings—
The
board
of
directors
on
Oct.
7
company's charter to authorize the
stock from time to time.
1
approved a proposal to amend the
issuance of a new limited preference
The new preferred stock would be limited to an "aggregate amount
which shall not exceed 40% of the company's outstanding stock and surplus,
including the preference stock so issued."
W. J. Harahan, President, in a letter to stockholders, said:
"It is anticipated that in view of the prospecti ve earnings of the company
for the year 1936 and the undistributed earnings of the past, there will
be declared and paid this year in addition to the four quarterly cash divi¬
dends already paid a cash dividend of $1 a share."
Mr. Harahan said it was anticipated further that after amendment
of the charter a dividend of $2 a share would be declared, payable in new
preference stock at par value and issued in a $100 par 4% non-cumulative
dividend series.
"The management
be successfully accomplished."
The board announced that a special meeting of stockholders would be
held in Richmond, Va., on Nov. 5 to vote on the proposed amendment.
—V.
that this
—V. 143, p. 749.
therefore recommends," Mr. Harahan added, "that
the stockholders avail themselves of this opportunity to broaden the financial
structure of the company at this time, when conditions afford reasonable
assurance
comfort.
Price ranges on present Chrysler-built cars are $510 to $680 for the more
popular Plymouth models: $640 to $795 for the largest selling Dodge cars;
$695 to $865 for the DeSoto Airstream line, excluding convertibles and
special wheelbase models, amd $760 up for the cars bearing the Chrysler
nameplate.
Heavy purchases of new machinery and rearrangement of plant facilities^
this fall have enabled the company to bring out the new car at a low price.
can
143, p. 2045.
Colon Oil
Corp.—Removed from Listing—
*
•The New York Curb Exchange has removed fronl listing and registration
the capital stock, no par. The Boston Stock Exchange pursuant to the ex¬
10-year convertible 6% gold debentures, due
1938, for redeemable income stock of the Colon Development Co., Ltd.,
suspended trading in Colon Oil debentures, effective Oct. 1, 1936.—V.
143, p. 1870.
change of Colon Oil Corp.
Chicago Burlington & Quincy RR.—Abandonment—
The Interstate Commerce Commission on Sept. 23 issued a certificate
permitting abandonment by the company of parts of a branch line of rail¬
road extending (1) from Sedan, Appanoose County, la., in a southerly
direction through Putnam, Schuyler, and Adair Counties, Mo., to a point
near Novinger, Mo., approximately 31.25 miles and (2) from a point near
South Gifford in a southeasterly direction to Elmer, approximately 4.69
miles, all in Macon County, Mo.—V. 143, p. 2202.
Chicago & Eastern Illinois Ry.—Equipment Trusts—
The
trustees
have
applied to the Interstate Commerce Commission
for authority to issue $1,080,000 3
% equipment trust certificates, pro¬
ceeds from which would be applied to the purchase from General American
Transportation Corp. of 500 steel sheathed 50-ton box cars, at a cost of
$1,350,000.
New
Reorganization Plan to Be Proposed—
A
plan of reorganization that would reduce the Chesapeake & Ohio
Ry.'s $8,000,000 investment in the Chicago & Eastern Illinois Ry. is
to be submitted soon by the company to Jesse Jones, Chairman of the
Reconstruction Finance Corporation, it was reported Oct. 8.
Through a
subsidiary the C. & O. now holds 42.7% of the C. & E. I.'s voting stocks.
The plan was reported to represent a victory by savings banks and
insurance companies over the Van Sweringen interests.
The fiduciary
institutions previously had filed a plan with the ICC reducing the control
of the C. & O. in the company to 15%.
The plan favored, however, by the Van Sweringen interests, who control
the C. & O. through the Midamerica Corp., would have left the $8,000,000
stake of the C. & O. as good as intact.
Kenneth D. Steere of Paine, Webber & Co., brokers for the Van Sweringens, who negotiated with the fiduciary institutions, disclaimed knowledge
of how the plan would deal with preferred and common stock of the
C. & E. I.
"I
honestly do not know," Mr. Steere said.
He indicated, never¬
theless, that the plan would be submitted within 10 days to Mr. Jones.
The O. & E. I. owes $5,760,000 to the RFC.
Mr. Steere said he hoped the plan would be filed with the ICC within
30 days.—V. 143, p. 2202.
Colorado Fuel & Iron Co.
Balance
Continued private ownership and operation of the railroads Is possible
only if their capital stock as well as bonds are made attractive investments
for the public, E.N. Brown, Chairman of the Board told the Interstate
Commerce Commission Oct. 6 in support of the management's plan for
the company's reorganization.
It was with this need in mind that the reorganization plan had been
devised with its provision for a reduction in fixed interest charges to about
$2,500,000 annually, said Mr. Brown.
He was one of several witnesses to
testify in support of the plea before a trial board composed of R. T. Boyden
and Harvey H. Wilkinson, examiners for the ICC.
i
"If private ownership and operation are to continue, it can only be
because people are willing to invest in railroad securities—not bonds alone,
$3,699,059
1,073,092
Depletion, depreciation, furnace relining, &c
Provision for all taxes, except Federal income tax
Selling & administrative expenses
329,661
559,948
Balance
$1,736,358
165,138
Other income
Total income
crl
Interest
on Col. Fuel & Iron Co.
gen. mtge. 5%
Provision for Federal income taxes
Profit
$1,582 ,$84
-------
T
x
$1,901,496
112,075
207,037
bonds.
Including
repairs
-
and
maintenance,
provision
for
bad
and
doubtful*
accounts and other miscellaneous expenses.
In a statement recently submitted to the
New York Curb Exchange for
the six months ended June 30, 1936, a net profit of $891,559 was reported.
This was after deduction of Federal income taxes and other
charges including
accrual
an
of
interest
on
Colorado
Industrial
Co.
bonds
amounting
to
$690,825.
The latter interest item will not-J>e paid (because the bonds
by reorganization) and is not included in the earnings
report just issued by the company.—V. 143, p. 1554.
were
eliminated
Colorado Fuel & Iron
Corp.—Listing of Warrants—
The application to list the new stock purchase warrants of the
reorganized
the New York Curb Exchange has been approved by the
Curb but the completion of the listing must await registration under the
Securities Exchange Act of 1934, it has been announced by J. & W. Seligman & Co.,
reorganization managers. Application has been made for such
registration ana%ormally a period of 30 days would elapse before registra¬
tion becomes effeeH&e unless the Commission, in view of the circumstances,
company
on
advances the
Chicago Rock Island & Pacific Ry.—Gets^More Time
Plan—Hearings by the ICC Off Until Feb. 2 to Permit
Trustees to Compile Data—
on
(& Subs.)—Earnings—
Earnings (Old Company) for 6 Months Ended June 30, 1936
Grosssales, less discounts, ret. & allowances
$12,810,085
Costrqf goods sold
9,111,026
x
The
Corp.
new
are
effectwgfregistration date.
income Bonds and
already.listed
on
common
stock of the Colorado Fuei & Iron
the New York Stock Exchange, because of the
rule of the Securities and Exchange Commission granting temporary exemp¬
tion from registration in cases where reorganization securities are listed on
the
Exchange as that on which the old securities were listed. The
which were issued in exchange for stock of the old company
on the New York Stock Exchange, are to be listed on the
New York Curb Exchange because the New York Stock Exchange does not
list warrants.
A request had been made to the SEC to broaden the scope
of the temporary exemption from registration afforded to reorganization
securities which are listed on the same exchange as that on which the old
securities were listed, but this exemption was not granted by the Commis¬
sion.—V. 143, p. 1224.
same
warrants,
which is listed
Comal Springs Brewing
Co.—Registers with SEC—
See list given on first page of this department.
Volume
Financial
143
Commercial
Banking Corp.—Preferred Shares Offered—
Vaughan Clarke & Co. of Philadelphia on Oct. 5 offered
a new issue of 25,000 shares of $1.20 cumulative prior pref.
stock.
The
stock
being offered carries non-detachable
warrants for purchase of 100,000 shares of common stock.
It constitutes the first public offering of securities of the
company and is being made at $20 per unit, a unit con¬
sisting of one share of the cumulative prior preferred stock
and warrant, to..purchase four shares of common stock.
H.
Proceeds from the sale of the stock will be used for expansion of the
business of the company and for the retirement of presently outstanding
15-year 5lA% convertible sinking fund debentures, due Nov. 1, 1950, in
the principal amount of $87,500.
The warrants attached to the stock
provide for the purchase of common stock at $5 per share to Sept. 30, 1939,
$6 per share to Sept. 30, 1940, $7 per share to Sept. 30, 1941, and are void
2361
Chronicle
July 31, 1936 and the funds therefor deposited in trust. 48,031 of such
July 21, 1936 the
so deposited being returned and on July 22,
1936 the charter was
amended so as to eliminate all reference to such convertible preferred stock.
At June 30, 1936 the outstanding unsecured short term notes of the com¬
pany and its subsidiaries were as follows: $149,095,500 of the company.
$4,100,000 of Textile Banking Co., Inc., and $240,000 of Continental
Guaranty Corp. of Canada, Ltd.
There were also outstanding $28,512
of secured short term notes of a foreign subsidiary payable in foreign
currency and guaranteed by the company.
Underwriters—The name of each of the several underwriters and the
principal amounts severally underwritten by them are as follows:
on
shares were converted into common stock on or before
funds
Dominick
Kidder, Peabody & Co., New
York
Corp., New
York....
4,000,000
Robert Garrett &
Eastman
&
W. W. Lanahan &
inclusive/ and dividends
Schroder
long-term funds with the offering of $30,000,000 3M%
debentures due Oct. 1, 1951 by a group of 47 investment
houses headed by Kidder, Peabody & Co. and the First
Boston Corp. The debentures were priced at 101 and int.t
to yield 3.17%.
This is the third large financing operation
engaged in by the company within the last two years, the
first two being designed primarily to simplify the company's
capital structure and to reduce preferred dividend charges.
According to the prospectus, the entire net proceeds from the
sale of the offering of debentures will be used by the com¬
pany as new capital to purchase receivables in the ordinary
new
course
Co., Balti¬
a
oversubscribed.
An
analysis of receivables purchased, as revealed in the prospectus upon
which this offering is based, shows an increase in total receivables purchased
$377,959,031 in 1934 to $525,999,304 in 1935, and $402,459,871 for
the first six months of 1936.
Motor hen retail time sales notes accounted
A. C. Allyn & Co., Inc.,
York
Co.,
&
New
York...
W.
E.
1,000,000
Button
&
Co.,
1,000,000
&
Bond
Co., Hartford
&
Co., New
600,000
York
before
&
Co.,
Pacific
Co.,
Directly and through subsidiaries, company has been engageddn special¬
ized forms of financing for 24 years, and is now one of the three largest
finance companies in the country.,
The business of the companies consists
specialized forms of financing, including the purchase of retail time sale
lien notes covering the sale of automobiles, refrigerators,
oil burners,
household appliances, time and labor-saving machinery, industrial equip¬
ment and plant installations, the acquisition of wholesale lien notes and
acceptances, usually representing the sale of merchandise from manufac¬
turers to distributors and dealers, the purchase of current open accounts
and notes receivable from mills, manufacturers and wholesalers, the "fac¬
toring" business, and credit insurance.
Dated Oct. 1, 1936; due Oct. 1, 1951; Guaranty Trust Co., New York,
trustee.
Principal and int. (A. & O.) payable at Bankers Trust Co., New
York, in coin or currency of the Untied States of America which at the
time of payment is legal tender for public and private debts. Denom.
$1,000, registerable as to principal only, and registered in denom. of.$1,000,
$5,000, $10,000 and authorized multiples of $10,000.
Debentures are to
be redeemable at the option of the company, either as a whole or from
time to time in part by lot (but if in part only in amounts of not less than
$5,000,000 aggregate principal amount), on any date prior to maturity on
at least 60 days, published notice, on or before Oct. 1,1938 at
104%; with
successive reductions in the redemption price of K% during each successive
two-year period thereafter to and incl. Oct. 1, 1948; thereafter to and
incl. Oct. 1, 1949 at 101%; and thereafter at 100%; in each case plus
accrued interest.
The indenture provides that the company cannot pay
dividends on its common stock, except stock dividends, or retire or make
any distribution on its stock of any class if, after doing so, the consolidated
assets of the company and its consolidated subsidiaries are less than
120%
of
The indenture also contains provisions as
consolidations, dividends, and domestic borrowing by the company or
the position of the 3M% debentures.
Listing company has agreed to make application for the listing of the
debentures on the New York Stock Exchange upon request of Kidder,
Peabody & Co., and First Boston Corp.
of their consolidated liabilities.
to
its subsidiaries designed to maintain
Capitalization and Funded Debt
The capitalization of the company as of Sept. 10, 1936, adjusted to
give
effect to the issuance of the 3 M % debentures due 1051 and to the payment
on
Sept. 30, 1936 of a 20% common stock dividend payable to holders of
stock of record on Sept. 10, 1936, would be as follows:
common
Authorized
Outstanding
3X% debentures due 1951
$30,000,000
$30,000,000
4H% cumul. conv. pref. stock ($100 par)..
149,258 shs.
149,258 shs.
Common stock ($10 par)
3,000,000 shs. 1,796,448 shs.
Notes—(a) With respect to the 4K% cumulative convertible preferred
stock: 250,000 shares were authorized and outstanding at June 30, 1936, of
which 100,742 shares were converted into common stock on or before
Sept. 10, 1936, pursuant to the provisions of the charter and cannot be
-
_
reissued.
(b)
shares
With respect to the common stock: At June 30, 1936,- 2,000,000
were authorized,
1,262,207 and 727-1000 shares were outstanding
and 456,866 shares were reserved for conversion of 4)4 % and 5H % preferred
stocks and 473 shares for exchange for an equal number of shares of capital
stock of American Crejiit Indemnity Co. of New York.
At Sept. 10, 1936,
299,238 shares (included in the amount of common stock shown above as
outstanding as of Sept MO, 1936) were reserved for the payment of the
stock dividend referred to above, 248,765 shares were reserved for con¬
version of the 4 )4% preferred stock at the conversion ratio effective on
Sept. 30, 1936, and 67 shares were reserved for exchange for an equal
number of shares of capital stock of American Credit Indemnity Co. of
New York.
.
'
(c) With respect to the 5\i%'convertible preferred stock; 250,000 shares
193,718 shares,
designated as 5H% convertible preferred stock, were issued and 143,466
shares converted into or exchanged for other securities on or before June 30,
1936, on which date the balance, 50,252 shares,.was called for redemption
of convertible preferred stock were originally authorized,
200,000
Cahn &
Co., Balti¬
200,000
200,000
200,000
Ricker
&
Co.,
Mil¬
waukee
500,000
&
200,000
Byllesby & Co., Inc.,
200,000
Co.
of
Calif.,
Los
Angeles
Strother, Brogdeh & Co., Bal¬
200,000
200,000
timore-
Francisco
Watts
Balti¬
Cassatt & Co., Inc., New York
San
Estabrook & Co., New York.
450,000
Dean Witter & Co., New York
Brown Harriman & Co., Inc.,
200,000
New York
Balti¬
1,000,000
400,000
Mellon Securities Corp., Pitts¬
400,000
more
Edward B. Smith & Co., New
York...
J. & W. Seligman & Co., New
York
Chas. D. Barney &
York
"
1,000,000
burgh
Co., New
1,000,000
350,000
Balance Sheet
as
of June 30, 1936
[After giving effect to certain changes in capital structure]
Cash.'.
$24,408,577
Notes & accounts receivable:
Motor lien retail time sales notes
95,767,847
Motor lien wholesale notes & accept.
Industrial lien retail time sales notes
31,581,428
15,704,656
2,888,990
Open accounts, notes, accepts. & rediscounts
Sundry accounts & notes receivable
215,768
Indebtedness of affiliates
Repossessions in Co.'s possession at depreciated values
Sundry securities (at cost)
a
Securities of affiliates (at respective book values)
41,363,182
30,750
8,458
;
18,200,843
1
....
302,134
;
on
358,825
short term notes..
Total
..$230,840,45.8
TAahi li.f.ip.s——
Unsecured short term notes
$149,095,500
Accounts payable incl.
all accruals. Federal and other taxes
(except "undistributed profits" tax)
Federal income taxes,
dividends
and surplus adjustment of the parent company, of $5,573,432 for the first
six months of 1936, compared with $3,556,397 for the similar 1935 period,
and $8,338,340 for the entire year 1935.
Interest and discount paid by.
the parent company was $706,045 for the first six months of 1936, $449,067
for the first six months of 1935, and $898,737 for the entire year 1935.
M.
Edgar,
500,000
Tully
Sons,
more
New
Graham, Parsons & Co., New
Mitchum,
&
New York
550,000
Corp.,
York
Baker,
H.
550,000
_
Higginson
New
200,000
Brown
Paul H. Davis & Co., Chicago.
Dodge
for
but
Co., Boston
Goodwin, Inc.,
Frank B.
York
200,000
200,000
more.
600,000
more..
Prepaid expenses
Prepaid discount
of subsidiaries
&
Mackubin, Legg & Co., Balti¬
Lee
New
York.
Co.,
Alex.
Clark,
Balti¬
Boyce,
250,000
Inc., New York
1,000,000
White, Weld & Co., New York 1,000,000
Spencer Trask & Co., New
York
700,000
Putnam &
&
Baldwin &
New
York
Rockefeller
Bros.
more
Furniture & fixtures
income taxes
250,000
Hayden,
from
28% of receivables purchased in the first half of 1936; motor hen whole¬
sale notes and acceptances for 43.5%; industrial lien retail time sales notes
for 4.3%; open accounts,
notes, acceptances, rediscounts and foreign
receivables for 10.8% and factoring receivables for 13.4%.
The condensed consolidated earnings account of the company as disclosed
in the prospectus shows a balance, after interest and discount and Federal
250,000
more
Stein
of business and to make advances to subsidiaries for
such purpose, or to replace outstanding short-term notes,
or
both.
The bankers announce that the issue has been
Dillon
York
inc., New York..
1,400,000
Blyth & Co., Inc., New York. 1,000,000
Stone
300,000
300,000
300,000
Co., New
1,600,000
New
Sachs & Co.,
Stone & Webster and Blodget,
Commercial Credit Co7—$30,000,000 Debentures OffCred—
The company entered the capital market Oct. 8 to obtain
350,000
1,000,000
more
Goldman,
Upon completion of the present financing the company will have out¬
standing 25,000 shares of $1.20 cumulative prior preferred stock, par Value
$10 par share, 24,158 shares 7% preferred stock, par value $20 per share,
and 49,016 shares of common stock of no par value.
Organized in 1919, corporation in 1933 acquired control of the Atlantic
Financing Corp. and the South Jersey Credit Co., Inc.
The operations of
thecoxnpany have resulted in a profitin every fiscal year from 1919 to 1036,
were paid in each of these years.
For the 12
months ended July 31, 1936 the corporation reports net income available
for dividends of $75,113 as compared with $41,289 in the 12 months ended
July 31J 1935.
Earnings for the 12 months ended July 31, 1936 are 2.5
times the dividend requirements on the cumulative prior preferred and earn¬
ings in the last 10 years have averaged 2.3 times these dividend requirements.
The company has agreed at rqquest of the underwriters any time within
12 months to make application for listing the prior pref. stock and (or)
common stock on the New York Curb Exchange or other exchange.—V.
143, p. 1716.
\
New
Dominick,
Hallgarten & Co., New York..
Jackson & Curtis, New York..
Baker, Weeks & Harden, N. Y.
Sons, Balti¬
York
thereafter.
&
York
$4,000,000
The First Boston
5,316,199
...
Indebtedness to affiliates
1,692,222
723,797
4
Margin due customers only when receivables are collected
Dealers' participating loss reserves
Reserve for possible losses and contingencies
Deferred income & charges (unearned)
4H cumulative convertible preferred stock
Common stock ($10 par)..
Capital surplus
Earned surplus
Undistributed profits (or surplus) of subsidiaries
—
Total
3,863,850
2,316,531
4,660,976
14,925,880
17,064,485
15,669,759
10,229,949
4,381,385
.$230,840,458
-V. 143, p. 2204.
Commodity Corp.—Initial Dividend—
The directors
have declared
initial dividend of 50 cents per share-
an
on
the common stock, payable Nov. 1 to holders of record Oct. 9.—Y. 141,
p.
914.
Commonwealth Edison
Co.—Accepts Rate Cut—
The company will accept the ruling of the Ulinois Commerce Commission
reducing its rates without litigation.
James Simpson, Chairman of the
Board, on Oct. 2 made the following statement:
"I am naturally disappointed at the Commission's ruling, which in effect
reduces ra«es by $3,000,000 for the ensuing year and requires the company
to bear the Illinois utility tax of 3%, amounting to $1,500,000 a year,
without passing it along to our customers as other lines of business are
allowed to do.
The reduction of Commonwealth's income through the
Commission's action thus reaches a grand total of $4,500,000 a year.
"The company's income is consequently cut below the point where if our
1935 volume, without commensurate increase, were to prevail, our business
would fail to earn 'a fair return on its property,' as provided by law.
To
earn such 'a fair return' we must depend upon the possibility that the new
low rates for electricity will induce customers to use more of it in the future.
"The company has consented to the action of the Commission in so reduc¬
ing rates and in fixing a rate base of $318,000,000, but has filed at the same
time the following statement:
"
'Commonwealth Edison Co. hereby files, as a part of the
rggprd in the
above entitled cause, the following statement:
"
'With respect to the order of the Illinois Commerce Commission en¬
tered Oct. 2, 1936 in the above entitled cause. Commonwealth .Edison Co.
hereby agrees to the rate base as found and to the reduction of rates in the
amount ordered; but the coihpany in thus agreeing does so for the purpose
of avoiding further
litigation, and the company hereby states that in waiving
appeal from said order the company shall not be taken as agreeing to,
being committed in any future proceeding by, the provisions of the order
denying the right to capitalize the items aggregating approximately $40,000,000, nor the findings in the order as to original cost, nor the statement
in the order that annual depreciation is considered as being computed on
a sinking fund basis; nor does the company subscribe to the principle im¬
plied in the order to the effect that original cost is or should be the sole or
dominant factor in determining the rate base.'
"In spite of the very drastic rate reductions involved, I authorized this
action by the company, since the Commission accepts the principle of in¬
cluding in the new rate structure socalled 'inducement features,' which we
now hope will encourage sufficient additional use of electric current to com¬
pensate for the reduction of the company's income.
These 'inducement
features' will give the company an opportunity to make a vigorous attempt
to obtain the needed additional business, through which alone we can re¬
place our sorely reduced income.
"I am most anxious to have this thought uppermost in the mind of every¬
one in the company; so anxious that a major reason
why I agreed to waive
our right to appeal to the courts is that I believe long drawn-out litigation
might divert us from immediate and vigorous pursuit of a policy looking
towards greater cooperation between the company, its customers and the
any
or
Commission
than
has
ever
existed
heretofore.
This latter
has
first objective from the moment I took charge of the company's
been my
affairs.
"We, in the Edison Company, shall do our part, but in all fairness the
Commission should bear in mind that it still remains to be seen whether
the jiew low rates will be warranted by bringing about an adequate increase
in the use of electricity by our customers."—Y. 143, p. 916.
2362.
Financial
Commonwealth Life Insurance
share was paid
V. 140, p. 314.
on
Jan. 8, 1935; Jan. 6,
1934, and Jan.
7,
1933.—
Oct.
Calendar
1933
Total operating revenues$l6,202,482
Total
oper.
..
dividend of $2 per share on the common
stock, no par value, payable in cash, or, at the option of the stockholder,
in 6% bonds of Porto Rican-American Tobacco Co. at $810 per $1,000
6 Mos. End.
Years
June 30,"36
1935
1934
$16,780,895 $17,695,556
9,443,061
10,164,844
10,985,770
expenses
Operating income
Congress Cigar Co., Inc.-—Special Dividend—
The directors have declared
1936
10,
Summary of Earnings \of Company as now Constituted)
Co.—Pays Smaller Div.
The company paid a dividend of 15 cents per share on the capital stock
$10, on Oct. 1.
Previously regular quarterly dividends of 40 cents
per share were distributed.
In addition an extra dividend of 10 cents
par
per
Chronicle
$9,086,392
5,543,784
$6,709,785
$3,542,607
$6,759,421
Other income
$6,616,051
78,936
70,644;
100,171
27,976
$6,809,956
1,804,005
$3,570,584
859,518
a
Gross corp. income.__
on fund. debt..
$6,838,357
Interest
plus $20 accrued interest.
Options must be exercised by Oct. 26.
A similar payment was made on Nov. 30, 1935.
Dividends of 25 cents per share had been paid on the common stock
each three months from Sept. 30, 1931, to and including June 30, 1934.
Int.
1,792,892
Amort, of debt disc, and
—V. 143, p. 1225.
$6,686,695
1,804,273
bond
Rentals,
Concluding
on
H.
Norcross.
Connecticut
Light & Power Co.—$14,500,000 Bonds
Offered—A further step in the simplification
of the debt and capital structure of the company was taken
Oct. 8 with the offering of $7,000,000 1st & ref. mtge. 3^2%
bonds, series F, due 1966, at 105 and interest, and $7,500,000
of 20-year Zl/i% debentures, due 1956, at 102 and interest,
through an underwriting group headed by Putnam & Co.
of Hartford and Chas. W. Scranton & Co. of New Haven,
and including E^tabrook & Co.; Kidder, Peabody & Co.;
Brown Harriman & Co., Inc.; The R. F. Griggs Co.; Coffin
& Burr, Inc.; The First Boston Corp.; Blyth & Co., Inc.;
Stevenson, Gregory & Co.; Hincks Bros. & Co., Inc., and
Paine, Webber & Co.
The issues have been oversubscribed.
and Debentures
Series F Bonds—Unlimited
to authorized principal amount.
All bonds
of series F dated of Sept. 1, 1936, shall mature Sept. 1, 1966.
Both prin¬
cipal and int. (M. & S.) payable, in lawful money of the United States,
at office or agency of company in New York, and interest also payable at
respective offices or agencies of the company in Boston or Chicago. Denom.
$1,000, registerable as to principal only, and fully registered in denom. of
$1,000 or any authorized multiple thereof.
Coupon and fully registered
bonds interchangeable.
Red. at option of company as a whole or in part
on any interest date, on at least 30 days' notice at 109 if red. on or before
Sept. 1, 1941; at 107 if red. thereafter and on or before Sept. 1,1943; at 106 if
red. thereafter and on or before Sept. 1, 1945; at 105 if red. thereafter and
on or before Sept. i, 1947; and if red. after Sept. 1, 1947, at 104which
price is successively reduced by H of 1 % at end of each following two year
period through Sept. 1, 1963, after which date the bonds are redeemable
at par, in all cases with accrued interest to redemption date.
Bankers
Trust Co., trustee.
In the opinion of counsel for the underwriters and counsel for the com¬
pany, the series F bonds when issued will meet the legal requirements for
savings bank investments in the States of Conn., New York, Mass., New
Jersey, and Pennsylvania.
Debentures—Dated Sept. 1, 1936, due Sept. 1, 1956.
Principal and int.
(M. & S.) payable in lawful money of the United States at HartfordConnecticut Trust Co. in Hartford, Conn., trustee, or at office or agency
of company in New York.
Denom. $1,000, registerable as to principal
only, and also registered in denom. of $1,000, or any authorized multiple
thereof; coupon and registered debs, intercnangeable.
Red. as a whole at
option of company at any time, whether or not an int. date; and in part,
at option of company and also for the sinking fund, on
any interest date.
The calls for redemption require at least 30 days' notice by publication.
Redemption prices are:
(a) On calls at company's option through Sept. 1,
1939, 106; thereafter through Sept. 1, 1942,105; thereafter through Sept. 1,
1§45, 104; thereafter through Sept. 1, 1948,103; thereafter through Sept. 1,
1951, 102; thereafter through Sept. 1, 1954, 101; thereafter through Sept. 1,
1956, 100 together in each case with accrued interest to date of redemption,
(b) On sinking fund calls through Sept. 1, 1939, 105; thereafter through
Sept. 1, 1942, 104; thereafter through Sept. 1, 1945, 104; thereafter through
Sept. 1, 1948, 103; thereafter through Sept. 1, 1951, 102; thereafter through
Sept. 1, 1954, 101; thereafter through Sept. 1, 1956, 100 together in each
as
case with accrued interest to date of redemption.
Sinking Fund for Debentures—Indenture provides that on or before
July 1 of each year, beginning with 1937, company shall pay to the trustee
as a sinking fund an amount
equal to 1 % of the total principal amount of
debentures at any time issued plus an amount
equal to one year's interest
on all debentures theretofore retired
through the sinking fund.
Company
may, in lieu of cash, make sinking fund payments in debentures at their
market value at time of deposit or at their cost to the company, whichever
is less, but not in excess of the then
sinking fund redemption price.
The
trustee shall apply sinking fund moneys, on or before 45
days before the
next succeeding interest date,^to the purchase of debentures in the
open
market or by private contract at the lowest prices obtainable in the
opinion
of the trustee, but not exceeding the then
sinking fund redemption price.
If such purchase does not exhaust the
sinking fund to an amount less than
$10,000, the balance shall be used to call debentures for redemption on
the next interest payment date at the then
sinking fund redemption price.
Debentures redeemed or acquired through the
operation of the sinking
fund may not be reissued.
...Purposes—After deducting company's expenses of an estimated total of
$137,000 in connection with its issue and sale to the respective principal
underwriters of the securities offered, the
aggregate net proceeds to be
by the company from such issue and sale are estimated to be
$14,573,000, and will be used as follows:
received
(a)
To
existing bank loans, $3,000,000; of this amount,
bonds of
Sept. 1,
redemption and call of $2,100,000 1st and ref. mtge. 5M% gold
Gas
118,046
55,462
342,084
18,142
25,702
170,076
9,700
12,480
bondholders' int
48,700
an
The finding is now open to any appeal to the U. S. Circuit Court of
Appeals at San Francisco. ("Wall Street Journal")—V. 143, p. 105.
was
unfunded debt--
on
117,033
344,764
18,145
28,743
leased
on
Write-down of in v.in subs
inquiry of findings/Federal District Court of Nevada
has listed an award in damages and interest, amounting to about $830,000
after final summing up to Consolidated Coppermines Corp. on its counter¬
claims to a suit brought against it some seven years ago by Nevada Consoli¬
dated Copper Co., a Kennecott Copper Corp. subsidiary.
The award
had been originally handled down about two years ago by Federal Judge
Frank
&c.
property.
Taxes
Consolidated Coppermines Corp.—Decision—
118,983
347,880
20,346
29,679
expense
repay
used to pay on May 1, 1936, the first
mortgage 5%
& Electric Co., and $2,194,500 was
required on
Northern
$300,000
Rockville
1936, for
bonds of
Connecticut
Power
Co.
To redeem the following bonds on the respective redemption dates
stated:
Nov. 1, 1936, $995,000 Waterbury Gas Light Co., 1st
mtge. 4^s, due Nov. 1, 1958, $1,044,750; Nov. 1, 1936, $540,000 Bristol &
Plainville Tramway Co., 1st mtge. 4)^s, due Nov.
1, 1945, $540,000;
Dec. 1, 1936, $40,000 Windsor Locks Water
Co., 1st mtge. 5s, due June 1,
1951, $42,000; Dec. 1, 1936, $375,000 Rockville-Willimantic
Lighting Co.,
1st ref. mtge. 5s, series D and E, due Dec. 1,
1971, $393,750.
(c) To redeem on Dec. 1, 1936 company's outstanding 6^s. cumul.
pref. stock of a total par value of $6,500, $7,475,000.
(d) To pay for additions, betterments and improvements of the property
(estimated), $1,905,021.
(b)
below
Capitalization Giving Effect to Present Financing
To Be
Authorized
1st & ref. mtge. sink, fund gold bonds—
Series A 7% due May 1,1951
1937 (assumed)-..
Northern Conn. Light & Power Co., 1st mtge. 5s
1946 (assumed)
Preferred stock, 5H% cumul. ($100 par)
$5,080,500
8,530,500
| 7,287,000
10,000,000
f
x
7,500,000
500,000
1,147,860.
_t
Gas Light Co., Winsted Gas Co.; in 1932, Central Connecticut Power &
Light Co.; in 1935, Rockville-Williamantic Lighting Co., Monroe Electric
Light Co., and Connecticut Electric Service Co.
Immediately preceding the company's acquisition, through merger, in
1935 of the properties and franchises of Connecticut Electric Service Co.,
the latter corporation was the
parent of the company.
Through this merger
the company acquired the electric, gas, and water properties ana franchises
formerly of Northern Connecticut Power Co., which properties and fran¬
chises immediately prior to the
merger had been transferred to Connecticut
Electric Service Co. in partial liquidation.
The nameTof Northern Con¬
necticut Power Co., which now does
only, an industrial water power busi¬
ness,
was
then changed to Windsor Locks Canal Co.
'
a
Connecticut Cable Corp. and of Ousatonic Water Power Co.
Shelton Canal
subsidiary).
Co.).
named
^now
This merger eliminated Connecticut Electric Serv. Co.
Since 1917, the company has operated and used, under a
999-year lease
expiring in 2905, and various subleases and agreements relating thereto,
the electric and gas properties and franchises of Connecticut
Railway &
Lighting Co., including the electric distribution systems in Water bury,
New Britain, Greenwich, Norwalk and a number of other
important
communities, and the gas properties in Norwalk.
These properties,
together with the transportation properties of the lessor, were originally
leased in 1906 to a predecessor of New York, New Haven & Hartford RR.
In 1910-1911 that predecessor assigned or subleased the
gas and electric
properties and franchises covered by the 1906 lease to the company's
predecessors.
While the lease and sublease agreements were disaffirmed and
rejected in Dec. 1935 by New York, New Haven & Hartford RR. and its
trustees appointed by the U. S. District Court for the District of
Con-^\
necticut
in
reorganization
proceedings
under
Section
77
of
the
Federal^
Bankruptcy Act, nevertheless the company, as successor to the original
electric and gas sub-lessees, is entitled to the continuance of the leasehold
privileges under the terms and conditions of an agreement dated June 27,
1917.
The territory served by the leased electric
properties has a total popula¬
tion of about 293,000, and the
territory served by the leased gas properties
has a total population of about
36,000, based on the-1930 Federal census.
Approximately 40% of the total revenue of the company is derived from
consumers in the leased
territory.
However, the leased property now
operated consists largely of distribution systems and appurtenances, the
electric producing capacities
being located outside of the leased territory.
An important consideration is that the
operation of directly owned and
leased properties is as a unit, so that exact
segregations are both impos¬
sible and unnecessary.
The company's business consists principally of the
production, purchase,
transmission, distribution and sale of electricity and gas for residential,
commercial, industrial and municipal purposes solely in the State of
Connecticut.
As above indicated, the company, since its organization, has
acquired by purchase, merger or under lease the properties and franchises
of numerous electric and gas companies serving in parts of the area now
embraced within the company's territory.
The territory served with
electricity or gas, or both, covers approximately 3,005 square miles with a
population of about 620,044 based on the 1930 Federal census, not including
the territory served
by other Connecticut public utilities purchasing
substantially all of their requirements from the company.
Underwriters—The names of the principal underwriters and the respective
amount of series F bonds and of debentures
severally underwritten by each,
are
as
follows:
Bonds
Putnam & Co., Hartford, Conn
Chas. W. Scranton & Co., New Haven
Estabrook & Co., Boston, Mass
Kidder, Peabody & Co., New York
Brown, Harriman & Co., Inc., New York—;
R. F.
Griggs Co., Waterbury
Coffin & Burr, Inc., Boston
The First Boston Corp., New York
•
$1,500,000
1,500,000
1,500,000
500,000
' 500,000
300,000
250,000
250,000
250,000
Blyth & Co., Inc., New York
Stevenson, Gregory & Co., Hartford-Hincks Bros. & Co., Inc., Bridgeport
Paine, Webber & Co., Boston—V. 143, p. 2204.
250,000
125,000
75,000
Debentures
$1,668,000
1,666,000
1,666,000
500,000
500,000
300,000
250,000
250,000
250,000
250,000
125,000
75,000
Consolidated Oil Corp.—Listing—
The New York Stock Exchange has authorized the
listing of $50,000,000
15-year convertible 2>f4% sinking fund debentures, dated June 1, 1936,
due June 1, 1951, which are issued and
outstanding, and 2,000,000 addi¬
tional shares of common stock
(no par) value upon official notice of issu¬
ance upon exercise of the
right of conversion appertaining to the convertible
3H % sinking fund debentures, making a total amount applied for 16,311,432
shares.—V. 143, p. 1871.
1
■
Consumers Gas Co. of Toronto—New President—
Thomas Bradshaw was, on Sept. 28, elected President of this
company
in succession to Arthur
Hewitt, who died on Sept. 17.
At the same time
Edward J. TuckerV,Assistant General
Manager
pointed General Manager.—V. 143, p. 2047.
Consolidated Electric & Gas
Consolidated
Income
Account
Period End. June 30—
for
Stated
and Secretary
was
ap¬
Co.—Earnings—
Periods
1936—6 Mos.—1935
(Including Subsidiaries)
1936—12 Mos.—1935
Operating revenues
Operation.
$12,186,782 $11,014,919 $23,142,606 $21,675,842
6,718,190
5,867,507
12,833,132
11,626.313
Maintenance605,375
545,717
1,211,563
1,150,292
Uncollectible accounts._
48,958
59,308
115,767
148,524
Taxes (incl. Fed. income
891,230
774,259
1,690,519
1,635,333
$3,923,026
$3,768,128
$7,291,624
$7,115,380
31,883
27,275
56,919
58,264
$3,954,910
710,101
$3,795,403
741,398
$7,348,543
1,644,161
$7,173,645
1,670,982
$3,244,808
$3,054,006
$5,704,381
$5,502,661
1,189,674
1.196,117
2,341,551
2.590,566
1,425,579
Net oper. revs,
1,512,395
2,919,031
2,969,723
$629,554
$345,494
$443,797
loss$57,626
before1
Non-oper.
income- -interest, divs., &c__.
Prov. for retirements
Int. & other inc.
6,804,400
(now
In this merger the company also
acquired all other properties and franchises
of Connecticut Electric Service Co.,
including all the outstanding stocks of
195,000
Preferred stock, 5% cumul. t$100 par)
85,000 shs.
None
Common stock (no par) no stated value per sharel.704,000 shs.
y46,206,600
x Unlimited
in
expressed
amount.
y Common
shares outstanding,
$4,501,975 $2,463,345
requirement on the funded debt which, as shown
outstanding upon the completion of the
present-financing, will amount to $2,011,008.
;
Company—Incorp. in Conn., June 22, 1905 under name of Rocky River
Power Co.
On Aug. 9, 1917 name changed to Connecticut Light & Power
Co.
Since that time it has enlarged its territory by acquisition and merger
of additional electric and gas companies serving important residential and
industrial areas in Connecticut. 'During last five years company acquired,
with the approval of the Connecticut P. U. Commission, through merger
or purchase, the public
utility properties of the following companies on the
respective dates indicated: In 1931, Beacon Falls Electric Co., Water bury
298,000
350,000
150,000 shs.
$4,325,036
The annual interest
]
( 7,000,000
7,500,000
$4,528,574
under capitalization above, will be
taxes)
$6,500,000
Series
C4^% aue July 1, 1956
f
Series D 5% aue July 1, 1962
|
1st & ref. mtge. 3%%, sink, fund bonds, series]
E, due July 1, 1965
I
ASt & ref. mtge., 3y*%
bonds, series F, due]
Sept. 1, 1966
[
20-year 3)^% debentures, due Sept. 1, 1956--..
Central Conn. Power & Light Co., 1st mtge. 5s
Outstanding
Net corp. income.-.-
charges
Int. & other inc. charges
of Consolidated Elec.
Netincome.-.
Volume
Financial
143
1936
V
1935
$
$
Assets—
Consolidated Income Account (Including Subs.)
eq.
tangibles)
CI.
carrying
val.
4,395,434
special dep.—
432,600
3,113,472
Accts. rec.—con¬
3,913,415
23,538
41,684
512,832
1,708,445
390,360
sumers
Due fr. employ.
Due fr. affil cos.
receivables
Merchandise
Appl.
rental.
on
Cash
in
1,480,000
380,334
3,089,948
32,678
38,195
542,884
1,874,520
371,222
Funded debt
Consumers' dep.
Reserves
Equity
Earned surplus.
Total
152,076,466 155,517,740
Income Account
fund.
debt interest
Other income charges...
12,797
83
$138,922
14,309
712
1$36
loss$23,083
$165,548 loss$113,009
1935
$
1936
Liabilities—
S
(net)...104,250,777 108,672,251
a
special dep...
41,592
8,397
38,072
Funded debt
Def. debit items
16,252
10,937
5,487
1,480,000
48,642,100
(par
81)
Common
(note & acct.)
18,301,000
1,000,000
46,587,400
(par SI)
receivables
Due fr. affil. co.
18,300,600
1,480,000
par. stock
25,607
221,739
Property
stock
20,570,594
Notes payable..
6,396,917
Accts. payable..
2,861
Accrued accts..
675,405
Acer. int. pay..
239,990
Due to affil.
Reserves
651,626
Capital surplus.
104,565,606 108,974,094
Represented
surplus.
Total
by
shares in 1935—V.
183,008 no par shares in
142, p. 4172.
20,570,594
6,344,107
2,838
860,744
240,758
286
197*,376
Earned
*1,000,000
co.
Def. credit items
20,280
$175,372
$148,517
Cr232
Cr 14,361
in¬
on
—
31, 1933 arising from a
6,847
6,500
decrease in rate of tax
Reduction of
res.
for doubtful notes.
for
possible loss in connection
with assets in Spain
.
150,000
Net income for the six months end.
$44,172
139,126
June 30
Dividends
on
class A stock
Consolidated
Assets—
Balance
$189,733
85,999
7,652,885
809,950
197,376
735,506
10,969,750
def370,967
.104,565,606 108,974,094
1936 and
183,012
no
par
1936
$1,745,835
pref. shares of English subsidiary
Marketable securities (at market)
Notes and accounts receivable
12 Months Ended Aug. 31—
Gross
oper. earnings of subs,
inter-company transfers)
i
1936
1935
(after eliminating
..$34,531,838 $31,802,849
12,756,146
13,650,044
General operating expenses
Maintenance
1,667,460
4,640,720
3,561,114
1,526,700
4,220,423
3,421,122
$11,012,499
840,453
$9,878,455
856,712
Provision for retirement
General taxes & estimated Federal income taxes
Net earns, from oper. of sub. companies
Non-oper. income of sub. companies
foreign bank, &c
in cap. stk. of allied co., at cost, less res;
(less than indicated amt. per allied co.'s accts.)_
y Land, buildings and equipment
Patents and trade rights, less amortization
Unexp. ins., taxes, &c. and sundry deferred charges
Goodwill of English and Canadian subsidiaries
Amount due from
Total income of sub. companies
$11,852,952 $10,735,168
Int., amortization & pref. divs. of sub. companies..
5,173,745
5,296,359
Balance
$6,679,207
$5,438,808
14,737
&
9,346
$6,664,470
Elec.
$5,429,461
14,929
842,988
1,353,983
15,239
10,631
731,806
1,299,662
18,930
95,300
2,402,185
415,453
$7,043,642
$7,749,076
$44,314
323,132
69,011
15,496
30,389
$201,856
301,432
29,210
141,770
23,829
145,600
171,518
119,924
20,659
Total
101,625
2,518,686
124,883
25,413
410.075
44,720
26,804
407,595
27,267
176,215
107,995
49,736
Liabilities—
foreign bank, due Sept. 14, 1935
Accounts payable and sundry accruals
Dividend payable
Loan pay. to
Due to ofticers of subsidiary
Due to affiliates
,
~~7~358
75,297
Instalments on contracts for purchase of patents,
construction, &c. due within one year
Foreign income and other foreign taxes accrued—
Res. for amt. by which net current assets, converted
& incl former herein at current rates of exchange
exceed
Instal.
same at
on contr.
par rates
for purch. of pats., not due within
are
for taxes pay. when prof, of
remitted to parent company
foreign subsids.
Reserve against investment and other contingencies
Res. for possible loss in connection with assets in
150,000
Spain.
2,222
profit on sale of investment
Minority interest i£t partly owned subsidiaries
Capital stock
Surplus account.
~3~057
2,433,716
2,706,230
471,576
Deferred
2,295,480
z3,193,985
1,133,051
$7,043,642
$7,749,076
doubtful notes and accounts of $72,412 in 1936
1935.
y After allowance for
depreciation of $1,773,172
in 1936 and $1,556,326 in 1935.
z Represented by 266,304 (344,000 in.
1935) shares of $1 cumulative participating class A stock (after deducting
3,000 shares in 1935 in treasury at cost of $24,775) and 200,000 shares of
$1 non-cumulative class B stock both no par value.—V. 143, p. 1718.
Total
x
After allowance for
$68,006 in
minority
stock
Equity of Continental Gas
earnings of sub. companies
1935
$1,527,967
979,393
Invest,
and
Proportion of earnings, attributable to
-—-
one year
Corp. (& Subs.)— -Earnings
$161,864
173,500
Sheet June 30
i
•
Due from sub. to
Res.
Continental Gas Sc Electric
common
2,526
9,878
Reduction in accrued foreign income
purch.
obligation
a
realized
amounts
vestment sold in 1934
Inventories
S
non-cum.
26,152
222,435
Total..
Additional
x
1935
,
S
$6 pref. stock.
CI. A,
&
Cash
Oth.
19,851
amount of net
in foreign coun¬
(exchange fluctuation, net)
Factory reorganization expenses—
30,258
1.308
32,823
880
Comparative Balance Sheet June 30 (Parent Company Only)
Assets—
Invest,
assets
Cash in banks and on hand
Net income
Sinking funds
dollar
in
tries
Prov.
1935
1936—12 Mos.
$3,658,221
$3,973,567
73,237
72,590
3,666,426
3,701,725
1936—6 Mos.—1935
$2,029,509
$1,880,547
General expenses
44,011
29,676
Int. & other inc. charges
1,853,695
1,858,932
$168,797
$193,939
Decline
tax at Dec.
for Stated Periods (Parent Company Only)
Period End. June 30—
on
10,969,750
790,714
152,076,466 1^5,517.740
Gross income
Fed. & State tax
149,000
60,102
7,652,885
2,193,773
18,083
$187,777
items:
Extraordinary
Surplus
-
.
51,998
21,428
$213,790
min.
of
stockholders
U. 32,702
84,837
ority interests in subsidiaries
143,427
531,476
20,362,114
141,125
items
2,738,909
21,354,860
32,729
57,466
Portion of net income accuring to min¬
current
Capital surplus.
Total
778,971
2,429,379
833,478
2,204,508
accts._
deposits
28,293
72,233
extension
Serv.
104,381
379,248
Provision for foreign income and other
389
Due to aff 11. cos.
Accrued
Depreciation
Selling and administrative expensesand other expenses, less in¬
terest and other income
Notes payable..
Def. credit
38,311
915,239
17,133
1,112,661
Def. deb. Items.
1,000,000
87,099,081
9,874,704
1,109,732
10,809,926
Accts. payable.
1,344,032
19,727
3,383,729 DIvs. pay.—sub.
closed
banks
1,480,000
1,000,000
80,159,586
1934
$1,981,091
1,262,596
82,283
364,629
Interest
stock
(par $1)
Cash
18,799,000
non-cum.
4,304,567 Common
Sinking funds &
Oth.
A
SI)
1935
$2,019,989
1,260,226
95,257
365,103
30—
$
$
20,083,550
part stock (par
136,414,889 140,546,111
Investments—at
1936
$2,409,182
1,526,399
6 MonthsJEnded June
1935
1936
Liabilities—
Preferred stock.
plant &
(incl. in¬
Prop.,
2363
Chronicle
Comparative Consolidated Balance Sheet June 30
Corp.
in
Income of Continental Gas & Elec. Corp. (excl. of
income received from subs.)
42,416
36,959
$6,706,886
120,608
33,485
$5,466,420
127,735
26,919
$6,552,793
$5,311,766
Creameries of America, Inc.—Bonds Offered—Mitcliuin,
Tully & Co. and Pacific Capital Corp. early in September
offered $1,250,000 10-year sinking fund 5% debentures
(with warrants attached) at 100.
1, 1946; denom. $1,000; interest payable
Principal and interest payable at Los Angeles main office of
National Trust and Savings Association, Los Angeles,
Dated Aug. 1, 1936; due Aug.
Total income
Expenses of Continental Gas & Elec. Corp......
Taxes of Continental Gas & Elec. Corp
Balance
Holding
deductions:
5% debentures, due 1958
company
Interst
on
-
2,600,000
Amortization of debenture discount and expense.
Balance
Earnings per share
—V. 143, p. 1555.
164,172
$3,788,621
1,320,053
$2,547,594
1,320,053
I. $2,468,568
Balance transferred to consolidated surplus
Dividends on prior preference stock
Continental Gin
2,600,000
164,172
$1,227,541'
$5.72
$11.51
Co.,,Inc.—Accumulated Dividend—
The company paid a dividend of $1.50 per share on account of accumula¬
tions
the
6% cumul. pref. stock, par $100 on Oct. 1 to holders of record
Sept. 24.
Accumulations after the current payment, will amount to $1.50
per share, the Jan. 1, 1936, payment having been omitted.
The company
on Dec. 24, 1935, paid up all arrearages up to and including Oct. 1, 1935.
See also V. 141, p. 4163—V. 143, p. 107.
on
(F. & A.)
Bank
of America
Calif., as trustee.
Red. in whole or in part on any int. date on 30 days'
notice, or on the 1st day of any month other than Aug. or Feb. on 60 days'
prior notice, at 103H% Prior to Aug. 1, 1938, and at 102H% after such
date and prior to maturity, together in each case with interest accrued to
redemption date. Thdenture provides for a sinking fund into which shall
be paid or deposited semi-annually cash or debentures in principal amount,
beginning not later than Oct. 1, 1937, equal to 5% of the consolidated net
earnings of the corporation for the preceding calendar year, or $25,000,
whichever is more (being a minimum of $50,000 per year).
Cash in the
sinking fund shall be used to redeem debentures at the time outstanding.
Each debenture, as initially issued, will have attached to it a warrant,
exercisable only as an entirety, entitling the owner to purchase 50 fully
paid and non-assessable shares of common stock of the corporation, or
under cettain conditions voting trust certificates representing such stock,
at the following prices during the following periods: from Aug. 1, 1936, to
Aug. 1, 1937, both incl., at $5.50 per share; from Aug. 2, 1937, to Aug. 1,
1939, both incl., at $6.50 per share; from Aug. 2, 1939, to Aug. 1, 1941,
both incl., at $7.50 per share; from Aug. 2, 1941, to Aug. 1, 1943, both
incl., at $10 per share; from Aug. 2, 1943, to Aug. 1, 1946, both inclusive,
at $12.50 per share.
The Warrant is exercisable only if accompanied by
appertaining debenture, except if countersigned by trustees prior to redemp¬
tion of debenture.
Continental Securities
Company was incorp. Feb. 29, 1936, Delaware.
Corp.—Asset Value—
The company estimates net assets
(taking investments at market or esti¬
of Sept. 30, 1936, to be $4,540,412
which compares with $4,227,358 as of June 30, 1936.
Such net assets as of
Sept. 30,1936, are equal to $1,634.42 per each $1,000 debenture outstanding
and to $123.95 per share of pref. stock outstanding.
On June 30, last,
net assets were equal to $101.93 per share of pref. stock while on Sept. 30,
1935, net assets equaled $46.08 per share of preferred.
Unpaid dividend
arrears on the cumul. $5 pref. stock amount to $26.25 per share.—V. 143,
p. 751.
V
mated fair value in absence thereof) as
Creameries of America, Inc., one of the constituent corporations, was
organized Oct. 4, 1929, as a holding company for the purpose of acquiring
stock of certain corporations engaged primarily in the milk and ice cream
business.
Subsequent to its incorporation and prior to Jan. 1, 1931, it
acquired either part or all of the stock of the following corporations which
operated in the areas indicated: Midwest Dairies, Inc., El Pas, Tex.; Dairies,
Inc., St. Louis, Mo.; Mid-Western Dairy Products Co., Salt Lake City,
Utah; Grays Harbor Dairy Products Co., Aberdeen, Wash.; Peacock
Dairies, Inc., Bakersfield, Calif.; Crown City Dairy Co., Pasadena, Calif ;
Honolulu Dairymen's Association, Ltd., Honolulu, T. H.
xPreferred
Cosmopolitan Hotel, Denver—Sale Ordered—
stock,
series
"A," $3.50 cumulative
) no par)
40,000 shs. 25,335 shs.
x550,000shs. 390,508 shs.
The hotel will go to the highest bidder at a sheriff's sale, under a ruling
Sept. 22 of the U. S. District Court of Appeals.
The ruling, which reversed
the U. S. District Court, means that the problem of the hotel's finances
will return to Denver District Court.
xPreferred stock, series "A," has conversion rights, entitling the holder
to convert said stock in the ratio of two shares of common stock for each
several
was ordered by U. S. District Court after
attempts to reorganize the company failed.
At a sheriff's sale
1933, the Colorado National Bank bid in the hotel at $1,250,000.
The
sale was set aside by the Colorado Supreme Court.
The bank, as bolder of a trust deed, obtained a $1,698,214 judgment
common
in
been reserved for issue upon the exercise of warrants to be
attached to the debentures, and 12,500 shares of common stock have been
reserved for issue upon the excercise of option agreement.
1
Liquidation of the property
against the hotel in Denver District Court and asked that
a
1935 bank¬
ruptcy petition be denied.—V. 140, p."797.
Common stock (no
share of
stock
par)
preferred stock surrendered for conversion, and 50,670 shares of
stock are reserved for that purpose.
62,500 shares of common
have
Purpose—Estimated net proceeds will be $1,144,646 exclusive of interest
accrued from Aug. 1, 1936.
Corporation proposes that so much as may be
of such net cash proceeds, shall be used for the following purposes:
to pay promissory notes of $191 447
to complete payments under real property purchase contracts of $30 244*
to complete payments under machinery and
equipment contracts of $26 381*
to advance $300,000 to Honolulu Dairymen's Association, Ltd., a
subsidiary
to aid in redemption of alFof its outstanding 5% first mortagge bonds- to
loan approximately $121,747 to Midwest Dairies, Inc., a subsidiary, for the
purchase of the El Paso, Tex., plant from Mary S. Price; to purchase certain
unimproved land to be used as a plant site, located in Salt Lake City Utah
necessary
Crown Cork International
Corp.—25-Cent Class A Div.
The directors have declared a dividend of 25 cents per share on account
of accumulations on the $1 cum. class A stock, no par value, payable
Jan. 2, 1937 to holders of record Dec. 10.
A similar payment was made
Oct. 1, July 1 and April 1, last, Dec. 20, Aug. 30 and May 22, 1935, and
Dec. 21, 1934, and compares with 50 cents paid on March 20, 1934, and
Nov. 1, 1933.
The last regular quarterly dividend of 25 cents per share was
on
paid
on
April 1, 1931.
To pay bank loans of $132,996;
\
Financial
2364
reservedfTor "working capital,
$8,177; approximately $333,652 wilUbe
or
and, as needed, for the purpose of acquiring dairy machinery, mechanical
cabinets, motor trucks and other equipment; $30,000 of the amount
reserved may be used to enable Midwest Dairies, Inc. to purchase a power
plant.
proceeds from the sale of common stock, which may be issued on the
the exercise of the option, will be used for
corporate purposes.
Option—Pursuant to underwriting agreement the corporation will grant
to the principal underwriters, (under an option agreement to be dated
Aug. 1, 1936, the execution of which has been authorized by the directors)
the right to purchase 12,500 shares of common stock, or, und ercertain
conditions, voting trust certificates, for the following prices during the
following periods: from Aug. 1, 1936 to Aug. 1, 1937, both incl., at $5.50
per sh.; from Aug. 2,1937 to Aug. 1, 1939, both incl., at $6.50 per sh.; from
Aug. 2, 1939 to Aug. 1, 1941, both incl., at $7.50 per sh.; from Aug. 2,1941
to Aug. 1, 1943, both incl., at $10.00 per sh.; from Aug. 2, 1943 to Aug. 1.
1946, both incl., at $12.50 per sh.
The option will run in favor of the underwriters severally in the following
amounts: Mitchum, Tully & Co., 6,250 shares, and Pacific Capital Corp.,
6,250 shares, the option is exercisable in whole or in part at any time or
from time to time in units which are in multiples of 50 shares.
The
exercise of warrants and upon
•
proper
*
'
Underwriters—Mitchum, Tully & Co., Los Angeles, Calif..
Los Angeles, Calif., $600,000.—Y. 143,
Principal
$650,000; Pacific Capital Corp.,
1873.-
p.
Crown Cork & Seal Co., Ltd.—Extra Dividend—
declared an extra dividend of 20 cents per share in
quarterly dividend of like amount on the common
stock, both payable Nov. 16 to holders of record Oct. 31.—V 142, p. 1117.
The directors have
addition to the regular
Cumberland County Power & Light Co.—Bonds Called
for redemption Dec. 1, 1936, all of its first mortgage
gold bonds, 4^% series, due 1956, at 100 and interest accrued to the date
of redemption, and a premium of 4.% %.
Total bonds outstanding amount
to $10,418,000, excluding $114,800 held in the treasury.
>.
Company has called
Offering Delayed—
Securities and Exchange
of its $9,500,000 first
stock will be delayed to Oct. 22.—
in an amendment filed with the
Commission has stated that the proposed offering
~'7~ The company
mortgage bonds
and $1,000,000 preferred
V. 143, p. 2205.
Chemical Corp. (& Subs.)—Earnings—
Months Ended June 30, 1936—
depreciation, Federal income taxes,
prov. for possible losses on receivables minority interest and
other changes
x $184,310
Equivalent to 36 cents a share (par $1) on 510,993 shares of capital
stock, including scrip for fractional shares and 24,456 shares reserved for
issuance in satisfaction of claims under terms of plan of reorganization.—
Davison
Earnings for 6
Net income after interest,
x
/
V. 142, p. 297.
Dayton Rubber
Period End. Aug.
Mfg. Co.—Earnings—
1936—10 Mos.—1935
1936—Month—1935
31—
Net inc. after Fed. inc.
Earnings per share on
156,413 shs. com. stk.
x
Before
Nil
provision for surtax on
x$357,337
$6,327
x$65,720
&c._-
taxes, int., dep.,
$49,798
Nil
$1.76
undistributed profits.
accrued interest, a total of $206,200
and refunding shortage sinking fund bonds,
made at Bankers Trust Co., New York.—V.
105 and
Derby Oil &
Refining Corp. (&
special meeting of the
Increasing the capital of the company as follows:
(a) By the creation of 300,000 shares (no par) in addition to
authorized, and by increasing the total
such shares heretofore
and Current Liabilities, Aug.
$41,447
31
$360,866
Cash in bank
Trust Co. under which there was
Current
Working capital
—V. 143, P.
—
1,173,404
393,712
779,692
1,191,230
778,842
412,388
liabilities
1396.
.
Detroit-Michigan Stove
Co.—Employees Insured—
Consolidated Income Account, Years
of the
total volume
United States. /
Gross profit on
comprises group
providing weekly
Discount Corp.
Dec.31 '35
$
4,473,887
524,896
Acceptances
U. S. bonds Treas.
notes &
indebtedness...59,355,719 67,247,930
336,508
Int. rec. accrued..
107,014
Expenses
paid
Sept.30 '36 Dec.31 *35
r.inhilHipt—
Surplus
in
38,791
advance..
pay.
S.
redis.
Govt.
Sundry credits
67,824,762 71,876,933
-V. 143, p.
Total
252,500
201,068
14,559
23,819
2,001,705
293,978
109,059
$4,208,674
1,742,645
$2.41
$8,791,580
1,742,645
$5.05
$941,255
1.742,645
$0.54
$558,319
1,500,006
$0.37
$428,536
118,063
pro v.
$249,810
136,021
—5,751
$163,281
119,588
4,492
145,291
for
Provision for income and
907,350
profits taxes
Special charge
yl,724,987
Net profit
Shares outstanding
Deprecia'n provided
charged to:
Production
Profits
as
above
Loss of sub. company..
Special price allowances made to customers in respect of stocks in their
Jan. 2, 1936, and also adjustment of duty paid on inventories in
of the companies, following the reduction in United States import
duties in conformity wjth the trade agreement between the United States
hands
hands
and Canada.
Consolidated Balance Shed July
x
blends-21,134,038 16,956,551
24,640,382 16,206,082
546,682
301,969
receivable,_ 6,390,913
4,235,183
7,451
future
11,702
401,374
1,749,831
102,211
237,112
87,201
for future purch.
of grain
future
Prov.
for taxes
In
Canada and U.S
Prop. ins. & other
x
3,748,521
liabilities
1,276,423
for
298,328
Liab. under contra,
96,500
1,306,612
purch. of grain.
Profit & loss acct..
401,769
403,405
54,793,217
2,000,000
to
operat'ns
Accts. pay. & accr.
Canada
Cash
credit
Deferred
19,202,427
bank
under
credit agreem't. 13,000,000
marks &
of
$
$
Capital stock...19,202,427
Adv.
3j^% bonds
1935
1936
Liabilities—,
Assets—
Accts.
31
1935
1936
deferred assets..
3,300,000
11,302
925
67,824,762 71,876,933
39,606,8771
2,412,679
1,452,504
16,854,325 14,154,739
54,793,217 39,606,877
Total
Represented by 1,742,645 no-par shares.—V. 143, p.
Doehler Die Casting
2206.
Co.—Subscription Rights—
The holders of common stock of record Oct.
7, 1936, will be offered the
right to subscribe at $31 a share to-additional shares of common stock at
the rate of 36-100 of one share of common stock for each share of common
stock held.
The right to
subscribe will expire at 12 noon, Oct.
17, 1936.
—V. 143, p. 2207.
Corporation-Seagrams, Ltd.—Files
with SEC
the warrants.
will expire on Oct. 31, 1941, must be accompanied
bv the certificate for the cumulative preferred stock if exercised on or
before April 30
1938, but after that date may be exercised apart from
the stock certificate.
The price at which the warrants are exercisable
is to be furnished by amendment to the registration statement.
Affording
to the registration statement, the net proceeds from the
sale of the stock, together with a loan of $5,000,000 from the Bankers
Trust Co
and the Manufacturers Trust Co., will be loaned to subsidiary
fomnanies for the retirement of notes outstanding under a bank credit
SSfeS dated Aug. 15. 1936, which, as of Sept 30 19361
117 500 000
The balance of the proceeds from the loan will be used for
approximated
including construction now in progress.
bank loan, of which 70% will be supplied by Bankers
purposes,
$5 000 000
Co'
173,211
xl 19,588
wholly owned
Total
reserved for exercise of
The warrants which
The
216,027
xl36,021
xll8,063
545,000
&
$15,000,000 5% Preferred Stock—
The corporation on Oct. 1 filed with the Securities and Exchange Com¬
mission a registration statement (No. 2-2525, Form A-2) under the Securities
Act of 1933 covering $150,000 shares ($100 par) (United States currency)
cumulative preferred stock, 5% series, with common stock purchase war¬
rants attached, and 150,000 shares of no-par value common stock to be
Trust
431,840
Legal fees
Dom.
—To Issue
general corporate
$1,821,505
554,223
1,041
Int. paid or accr., net
2,617,999
200,501
280,791
427.
Distillers
$3,290,716
1,737,362
1,500
sees.
repur. agree
Total
1,500
Prov. for depreciation..
Obsol. bottling supplies
or
3,184,002
1,000
294,035
237,573
Executive salaries
Contra
sold with endors.
U.
$19,489,415 $19,311,759
8,150,365
11,565,893
Investments
*
51,476,354 58,220,015
^ account
Accept,
$1,700,834
120,670
& adm. exps_.
5,000,000
5,000,000
& due
banks & cus-
3,728,8081 U. S. Govt, deposit
3,872,526
Cash
385,282
tomers
15,614
Sundry debits
1,168
Reserves.,
to
$3,267,304
23,412
Inventories
5,000,000
5,000,000
profit.. 2,643,204
Unearned discount
Loans
sales_>$19,381,853 $19,225,851
107,561
85,907
equipment,
goodwill, trade¬
Capital stock
Undivided
cert, of
$4,884,837
Plant,
-Balance Sheet—
of New York
Sept.30 '36
$
Assets—
$8,919,679
5,652,375
Total income
gen.
1933
$55,082,723
35,856,871
y
t,
.
life insurance, group accident and
benefits for disability resulting from
sickness or non-occupational accident, and group accidental death and
dismemberment insurance, protecting employees against the accidental loss
of life limb
or eyesight.
Amounts of insurance for individual employees
are
based on earnings.
The cost of group protection is shared by the
company and the insured employee.—V. 143, p. 2206.
The triple coverage
health insurance,
Ended July 31
Miscellaneous income
x
employees are protected by three forms of group insurance
of approximately $3,000,000, according to an announce¬
ment by John A. Fry, President.
The insurance is provided through a
contract between the company and the Equitable Life Assurance Society
a
A large portion
of the company
1940.
during the past two years, have been used for the purpose of the building
up of substantial inventories of whiskies in warehouses for aging in wood
in the United States and for plant construction and additions in the United
States.
It has, therefore, seemed to the directors that the development
of the company has reached a stage where it is desirable that the funds
so used should be represented, in part at least, by a more permanent form
of financing, although the bank credit agreement does not mature until
July, 1940.
Accordingly, directors contemplate the issue of 150,000 shares of cumu¬
lative preferred stock 5% series ($100 par), an aggregate of $15,000,000.
Certain warrants entitling the holders to purchase an aggregate of 150,000
shares of common stock, at prices to be later determined, will be attached
to the shares of cumulative preferred stock 5% series to be issued.
In
view of the very large percentage .of the business of the company which
is now done in the United States and in view of the wide holdings of the
common stock in the United States, it has seemed advisable to sell this
new issues through underwriters in
the United States and negotiations
looking toward the underwriting of the new issue are now in progress.
In connection with the proposed issue of preferred stock tentative arrange¬
ments have been made for a new $5,000,000 bank loan from Bankers Trust
Co. and Manufacturers Trust Co.
The proceeds of the proposed issue of
stock and of the bank loan will be applied by the companv to retire the
existing bank loans in the aforesaid amount of $17,500,000, the balance
being available for general corporate purposes.
Earned per share
More than 900
with
outstanding on Sept. 30, 1936, an aggre¬
gate of $17,500,000 of bank loans maturing in July,
of the proceeds of these loans, as well as the earnings
not
$413,470
-—' 140,000
Current assets
consideration
Prov. for loss of subsid.
1935
1936
Due banks
the 2,000,000
2,300,000 shares common stock may be issued and allotted,
from the sum of $20,000,000 to the sum of $40,000,000.
i
(b) By the creation of 200,000 shares of cumulative preferred stock
(par $100), United States currency, issuable in series, of which the first
series is to be known as cumulative preferred stock 5% series, for issue in
the first instance to an amount of 150,000 shares; the shares of such first
series to be accompanied by stock purchase warrants evidencing the right
to subscribe for an equal number of shares of common stock.
Samuel Bronfman, in a letter to stockholders, says:
The company has a line of credit of $20,000,000 with a group of banks
in the United States headed by Bankers Trust Co. and Manufacturers
for which such
written off
Current Assets
shareholders will bC held
Directors' fees
1936—8 Mos.—1935
$488,461
$331,249
283,520
289,802
$204,940
Stock—To Create New Preferred Issue—
Oct. 15 for the following
To Increase Common
A
underwriters, and the under¬
furnished by amendment to
statement.
purposes:
Sell.,
Subs.)—Earnings—
$7,916
$31,157
the registration
Sales, less frt. & allow__$60,585,917
Cost of goods sold
41,204,063
of
principal amount of its first
due 1951. Payment will be
141, p. 2433.
1936—Month—1935
$71,956
$39,502
40,799
31,586
Period End. Aug.31—•
Operating profit
Non-prod, devel., depr.,
The price to the public, the names of the
writing discounts or commissions are to be
(Expressed in Canadian Currency)
1936
1935
1934
Gas & Electric Light Co.—Bonds Called—
has called by lot for redemption on Nov. 1 at a price
Denver
The company
10, 1936
the payment in full on ipr about Nov. I, 1936, of all indebtedness under
the bank credit agreement of Aug. 15, 1936, and will be evidenced by
five-year promissory notes bearing interest at rate of 3}4% per annum
with provision for prepayment in whole or in part at the election of the
company.
The increase in bank loans from Sept. 30, 1935. to Sept. 30,
1936, is reflected, it is stated, in the increase in stocks of whisky laid down
for aging purposes and, to a lesser degree, in plant additions.
^
The preferred stock being registered is redeemable in whole or in part
on any dividend after 30 days' notice at $105 a share together with accrued
dividends.
t*
Nil
2206.
—V. 143 p.
Oct.
Chronicle
and 30%
by
Manufacturers Trust Co., is
conditioned upon
Douglas Aircraft Co., Inc.—Earnings—
$2,618,470
5,127,832
2,599,211
$446,190
Operating profit
1935
$6,483,127
3,099,753
Costs and expenses
$1,355,295
38,857
$19,259
12,689
$1,394,152
72,320
$31,948
167,000
117,000
29,708
Other income
$475,898
111,680
Total income
Reduction of inventory.
_
.
Northrop Corp. loss
42,696
on
33,937
43", 878
Depreciation
Loss
1934
1936
$3,545,943
9 Months Ended Aug. 31—
Net sales
205,149
14", 901
sales of bonds
Federal taxes
Net profit
$277,644
,
Shares cap. stock outstand.
"
8~,25l
Insurance premiums, &c_
(no par)
560,880
$0.50
-
Earnings per share
$1,082,746 loss$275,204
467,403
467,403
$2,31
Nil
Unfilled orders on hand as of Sept. 30, 1936 amounted to $22,652,055 as
This is the first time in more than
against $23,938,170 on July 24, 1936
,
Volume
Financial
143
that the company has reported a decrease in unfilled orders and
indicates deliveries are now catching up with new orders.
i
In July, last, the company offered 93,480 additional capital shares to
stockholders which accounts for the increase in outstanding stock from
a
Chronicle
year
467,400 to 560,880 shares during the third quarter.
i
As of August 31, 1936, the company reported contracts and orders in
process at
$4,740,707 before deducting payments received thereon, as
compared with $3,361,682 as of May 31.
Current fiscal position of the company has been improved considerably
by net proceeds of $1,012,822 from the sale of the 93,480 additional shares.
Current assets as of Aug. 31, 1936, amounted to $8,729,590 and current
liabilities $2,470,730 as compared with current assets of $6,016,095 and
current liabilities of $3,509,304 on May 31, 1936 —V. 143, p. 1074.
Dolphin Paint & Varnish Co.—SEC Cites Company—
Eilert Brewing
Co.—Earnings1936
Years Ended May 31—
Cost of goods sold
Selling
General expenses
37,036
38,516
Net profit from sales.
Other income
$16,623
2,431
$26,579
Net profit before other deductions.
Interest on notes payable
$19,053
4,791
11,348
$26,709
$2,915
$12,075
Bad debts
Net profit.
Balance Sheet
Assets—
Cash
on
Accts. rec., custInventories
x
62,675
28,811
Investments
y
4,950
303,788
6,446
Fixed assets
Deferred charges..
18,969
Res.
for
Fed.
1935
$35,518
10,000
10,500
2,050
~~8~726
545
4,511
inc.
tax
474
1,634
6,250
58,000
6,250
Divs. declared and
payable, class B
Mortgage
payable
58,000
Notes payable (not
1935
1936
appro,
2,638
1,416
4,193
current)
$26,637,795 $25,558,870
11,121,696
10,731,458
.u
10,700
Class B stock
10,700
171,190
107,991
Class A stock
171,190
Undivided profits.
(before
Net oper. rev.
Other income.
9,239
1936
payable.
$8,400 Notes pay., officers
47,430 Notes payable
29,044 Dep. on containers
4,817 Accrued interest.317,784 Accrued taxes
$3,259
5,394
$30,674
Accounts
banks
in
129
May 31
Liabilities—
1935
1936
hand and
Duquesne Light Co.—Earnings—
12 Mos. Ended Aug. 31—
Operating revenues
Operating exp., maint., & all taxes
3,208
635,818
138,648
604,956
136,316
expenses
records.yV. 141, p. 3534.
'
1,935
$842,771
$806,581
11,651
Discount and allowances.
In the first action of the kind since the Securities Exchange Act became
operative, the Securities and Exchange Commission announced Oct. 2 that
it has issued an order directing the company to show cause why registration
of its Class A (no par) common stock, $2 cumulative dividend, and Class B
common stock,
(no par) on the Detroit Stock Exchange should not be
suspended or withdrawn.
The general charge was that the requirements specified for registration
on Form 10, on which the securities had been registered by the company,
had not been met.
Under tfte law the commission has authority to refuse
continuance of registration and trading in a stock on national securities
Exchanges in such circumstances.
The commission called a public hearing for Oct. 19 at its regional office
at Chicago and appointed Henry Pitts, examiner, with power to compel
attendance of witnesses and the production of
2365
1,184
14,045
$409,929
$426,446
for retire, res.).. $15,516,098 $14,827,412
863,879
Total
..$16,431,019 $15,691,291
2,131,023
2,044,709
reserve
914,921
$409,929
$426,446
Total
After doubtful accounts of $1,279 in 1936 and $968 in 1935.
y Afte
for depreciation of $100,266 in 1936 and $67,911 in 1935.- -V. 141
x
Net operating revenue and other income
Appropriation for retire, res
107,991
.
Gross income
p.
$14,299,995 $13,646,581
177,706
176,440
2,457,206
3,083,542
316,143
181,938
500,000
333,333
78,594
102,350
Rents for lease of electric properties
Interest charges (net)
Amortization of debt discount & expense
Appropriation for special
Other income deductions
2433.
Enterprise Manufacturing Co.—Registers with SECSee list given on first page of
See list given on first page of this department.—V. 143, p. 427.
Ewa Plantation
Net income
$9,768,977
$10,770,345
this department.—V. 141, p. 1436.
Equity Fund, Inc.—Registers with SEC—
Co.—Earnings—
Calendar Years—
1935
1934
1933
1932
$3,790,373
$3,276,447
$3,9357741
$3,185,457
2,683,361
-V. 143,p. 2206.
2,664,784
2,622,208
2,689,852
Gross receipts from sugar
Eason Oil
Co.—Registers with SEC—
Cost
See list given on first page of this department.
6 Months End. June 30—
1936
inc.
Gross
$74,665
charges
130 p.
1728.
—V.
producing
and
1934
1935
after exps.,
deprec., depl.,
amort., prov. for inc. taxes & other
Net
of
$160,119
loss$5,080
profit
on
sugar
and
molasses
Other operating income-
Total income
East Butte
$1,107,012
89,678
$611,663
67,258
$1,313,532
Copper Mining Co.—Final Liquidating Div.—
$1,196,690
6,300
$678,921
$1,190,390
$678,921
175,494
Cr2,470
f237,637
$1,368,355
6,740
11,126
Cr32
27,079
157*522
$1,350,489
$889,097
307.310
200,559
$1,504,556
281,500
$905,196
141,500
$1,043,179
1,100,000
$688,537
$1,223,056
600,000
600,000
$763,696
x850,000
def$56,821
Operating charges
$88,537
$623,056
def$86,304
$1,387,851
888
$566,467
2,224
$1,386,964
280,432
Dr4.124
D/T4.607
$916,559
$1,663,272
$905,891
415
1,194
695
The company on
Oct. 7 mailed notices of its final dividend in liquidation,
equal to 27$4 cents a share, and totaling $116,288 on the 422,867 shares
outstanding.
Total distributions in liquidation are thereby brought up to
$1,046,595, equal to $2.47K per share.
Dividends paid by the company
while operating totaled $4.25 per share.
Pittsmont Copper Co., about 92% owned by East Butte, is also paying
a final dividend in liquidation of $60,000, or six cents per share.
Its total
distribution in liquidation is thereby brought to $510,000.—V. 138, p. 689.
Edison Brothers Stores,
Month of—
January.__
February-.
Inc.—Sales—
April.
May
June
——
-
-
September-
1935
$733,092
867.050
1,368,964
1,829.871
1,485,785
securs
x
Includes $250,000 special distribution of surplus funds.
Comparative Balance Sheet Dec. 31
Assets—
1935
1936
1935
Amount
Light Co.111,898,000 101,021, 00 10,877,000
the
Pet.
10.8
35.6
13.9
41,241,000 14,678,000
68,475,000
9,550,000
Stores,
Ine.-
Laraer
J
Dividend—
Growing
x
The directors have declared a quarterly dividend of 30 cents per share
the common stock, no par value, payable Oct. 20 to holders of record
Oct. 3. This compares with 25 cents paid each three-months from Oct. 20,
1935 to July 20, last, and 35 cents per share paid on April 20 and Jan. 20
1935 and on Oct. 20 and July 20, 1934, this latter being the initial dividend
Bldgs.,
3,001,499
Dec.
—
;
-
.
28
'35
29
Dec.
$2,773,740
'34
Dec.
$2,896,764
2,743,598
2,627,089
-
$146,651
30 *33
$2,837,032
867
$154,764
$345,946
45,599
$146,651
27,482
11,853
5,552
47,080
42,400
16,072
3,001,508
$93,094
1,079,210
JDrl.,995
CY279
Leasehold valuat'n
280,000
surplus
Total...
$8,543,355 $8,306,582
X After reserve for depreciation
1934.—V. j.41, p. 3073.
Federal Bake
$8,543,355 $8,306,582
of $3,698,708 in 1935 and
,594 .107 in
Shops, Inc. (& Subs.)—Earnings—
Calendar Years—
1935
$2,825,987
1,497,088
1934
1933
1932
Cost of goods sold
$2,869,252
1,497,076
$2,730,853
1,446,530
$3,233,943
1,677,520
$1,328,899
1,221,423
$1,372,176
1,261,303
$1,284,323
.1,234,893
$1,556,423
1,465.024
$107,476
$110,873
$49,430
$91,398
Sales
Profit from operations
Other income—Interest,
royalties,
disct.,
&c.,
10,706
11,836
15,518
10,550
$118,182
16,958
110,488
6,300
$122,709
$64,948
$101,948
20,809
28,958
32,557
112,965
8,098
126,948
138,997
$15,565
$19,163
$90,958
$69,607
1,757
10,263
Total income
Int. and other charges..
Amortiz. and
deprec'n
Prov. for Fed. inc. tax..
$256,466
826,285
Dr3,540
4,614
9,061
9,370
48,665
$14,549
$81,897
$108,901
Applic. to min. stks. of
sub.
cos.
(based
on
stock
ownership
at
Dec. 31)
Extraordinary charges..
$1,170,313
$1,265,590
Dec.
Assets—
Cash
28'35
Dec.
340,470
Accts. receivable
Inventories
b Fixed assets-.
258,171
466,803
706,014
6,225
Investments
2,027,007
28,869
..
Prepaid expenses.
Cash in closed
'$94,602
bk.
6,225
2,074,079
26,345
Notes payable
Accts. payable
Dec.
—
Accrued liabilities.
c
pay.
10,045
22,652
35,441
33,341
25,000
1,100,000
1,265,590
d Reserve
Capital stock...
Surplus
1,100,000
1,170,313
25,000
1935
$3,150,581 $2,926,257
reserve
for doubtful accounts,
Total
b After
1935
1934
$18,304
$12,629
7,749
10,648
Accrued, interest,
■'
tax., salaries, &c
18,223
15,432
Inventories
88,574
90,951
Real estate mtges.
Other assets
52,106
55,012
Reserves.
124,900
85,943
139,450
85,943
594,872
151,087
596,404
481,058
485,059
1
1
$219,738
Notes,
contract
& accts. rec
b
Land,
bldgs.
&
\
Min. int. in subs..
equip.—at cost.
Leasehold impts..
178,090
Leaseholds & good¬
will-
30,909
32,666
7% cum. pref. stk.
(par $100)
959,700
959,700
289,898
106,619
c
Patents
15,238
$1,642,339
289,897
82,547
15,929
$1,610,427
Common stock..
Earned surplus
$3,150,581 $2,926,257
reserve
Total
for depreciation of
$1,133,646 in 1935 and $1,079,221 in 19341 c Due after one year and secured
by machinery pledged,
d For extraordinary repairs to canal,
e Repre¬
sented by shares of $100 par.—V. 141, p. 273.
Liabilities—
Accounts payable.
a
Deferred charges..
Total
1934
$210,245
Cash
94,463
(def.)
and interest
e
29'34
$435,000
12,966
Accts. payable..
Notes
Dec.
36,738
Prov.for Fed.taxes
30
28*35
$475,000
61,650
151,564
22,070
>
Consolidated Balance Sheet Dec. 31
Assets—
Liabilities—
29'34
$41,995
$24,071
$1,079,21
Balance Sheet
After
350,000
350,000
Net loss.
a
280,000
Surplus
199,371
5,000,000
2,659,722
6,765
assets
a
24,279
5,000,000
2,847,665
Common stock
2,889,431
Net loss
$101,763
1,170,313
Surplus at beginning of year
Charges applic. against prior periods.
Charges on acct. of disposal of fixed
47,967
$345,079
1.598
_.
$25,243
Leasehold valuat'n
&c.
2,492,002
$153,166
Other income-
Miscellaneous deductions.
1934
$35,117
30,275
38,712
311,585
Reserve
1,238,295
2,569,462
net
Interest expense
Provision for Federal taxes..
accounts
mach'y,—
.
-Earnings—
Years Ended-
1935
Operating expenses
142, p. 2993.
Cost of sales
76,007
516,434
Liabilities—
Personal and trade
crops
equipment,
on
Net sales
Long-term contr..
52,300
440,291
1,238,295
other accts. rec.
Mat'ls & supplies.
Total
Edwards Mfg. Co.-
Payrolls
651,277
Accounts, notes &
—V. 143, p. 2207.
Drug
$25,675
Due from agents._
Investments.
Operating Subsidiaries of
Economical-Cunningham
1934
$25,081
504,380
Cash
Increase
the issue.—V.
sale of
Balance, surplus
1,699,201
1936, against
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:
on
on
$564,243
356,255
prems,
Taxes (estimated).
1,130,346
Inc.—Weekly Input—
Elec. Power & Light Corp... 55,919,000
National Power & Light Co.- 78.025,000
(divs., &c.)__
sale of secur's.
Total income
Income charges
of bond
discount
1,409,817
991,867
For the week ended Oct. 1, 1936, the kilowatt-hour system input of
American Power &
on
Amort,
2,086,971
-
The company had 99 stores in operation in September,
89 in the same month a year ago.—V. 143, p. 1877.
Ebasco Services,
Fin'l inc.
Prem.
Loss
1936
$874,140
1,051.674
1,603,565
2,124,966
1,968.054
1,725,817
1,211,919
1,375,877
.
March
July
August
$495,605
70,862
74.319
,
a
in
After
reserves
of $1,619.
1935 and $357,199 in
—V. 141, p. 435.
1934.
Total
$1,610,427 $1,642,339
b After reserve for depreciation of $379,175
c
Represented by 216,000
no
par shares
Financial
2366
Faultless Rubber
Oct.
Chronicle
Fiberloid Corp.- -Earnings—
Co.—•Earnings—
$ 237,894
$191,672
50,222
Cr 6,683
Operating profit (before depreciation)
Depreciation on plant and equipment
Other income, net
50,934
Cr3,409
26,200
21,000
Provision for Federal income taxes
Years End. Dec. 31—
1935
1936
Years Ended June ?,®—
after prov. for Fed. taxes
65,450 shs. common stock (no par)
Accounts
hand & on
on
$209,866
202,566
deposit
Marketable secur.
Acer,
1936
Federal
208,672
Increase in market value
Govt,
32,725
longer required
1,186,542
415,320
1,186,542
419,086
Res.
Earned surplus—
18,909
18,999
1,000
after 1 year
Total
x
889,512
23,399
26,017
for depreciation of $465,300 in
reserve
Fedders Mfg. Co.,
*
1934
$3,461,301
4,343,614
280,942
3,078,064
209,821
$370,994
$173,417
Cr96,553
206,486
26,648
Cr50,663
121,188
14,389
$234,414
602,423
Drl4,075
profit from sales
Other incomd..—Other deductions.
Provision for Federal income tax...—/——t
Net profit
Previous surplus
Adjustments
$984,621
76,738
15,278
$1,267,016
$1,125,904
$1,076,637
$88,503
$760,318
Surplus, Dec. 31
$502,423
1934
payable.
$147,382
payable
Accrued accounts.
37,510
65,705
Capital stock..
1,000,000
39,766
1,000,000
Dr3,000
760,317
Dr2,350
602,423
$261,407
1,823
284,259
545,572
7,576
885,820
$85,202
1,571
Dividends
222,209
486,405
c
Patent rights,
1
21,454
$118,614
1
surance, &c
5,000
Res.
expenses.
for contlng..
Preferred stock
y
1
$254,083
1,124~500
/
Federal taxes
Common stock..
Surplus
37,935
1,624,500
1,267,016
Deposits with mu¬
44,873
45,694
2,037,077
Prepaid expenses..
20,919
2,055,749
18,994
18,994
tual fire ins. cos.
x
Plant, equip, and
processes.
Com. stk. in treas.
26,106
Total.
$5,071,374 $4,308,034
Total
After
1934.
y
reserves
$5,071,374 $4,308,034
for depreciation of $1,444,162 in 1935 and
$1,491,959 in
Represented by 27,245 shares of no par value.—V. 142, p. 2156.
Film Center,
1935
Liabilities—
Accounts
(sec.)..
603,164
2,074
886,175
15,700
\
$495,905
58,567
296,808
1,081,900
1,624,500
1,513,694
Accts. payable
Accrued
Inventories
Condensed Balance Sheet Dec. 31
1934
$201,518
452,858
1934
1935
Liabilities—
1934
788,265
3,688
1,158,891
accept's receiv..
62,444
hand & on
1,632
806,093
Accts. rec., other.
x
on
$47,636
1,076,636
Dr 403
and
notes
Accts.,
415,190
Dr 1,269
Dividends declared
1935
$141,515
1,125,904
686
$245,992
$1817,575
Notes rec.
Cash
"4,174
8,047
mm m mm mm. mm
1,267,016
1935
Assets—
1935
$4,995,550
Years Ended Dec. 31—
•
mm
$1,513,694
U. S. Govt. sees..
Operating charges (incl. deprec. & amortization)—
Administration, selling & shipping expenses
Assets—
.
Condensed Balance Sheet Dec. 31
Cash
Inc.—Earnings—
Net sales
Net
CrT, 174
1,507
on
1936 and $415,891 in 1935.
Represented by 65,450 no par shares.—V. 141, p. 2587.
y
$1,069,921
81,127
value
$1,701,088 $1,704,054
Total
...$1,701,088 $1,704,054
After
in
Surplus
Balance, surplus, Jan. 1
Adjust, of prior years
unexpired,
insurance, &c___
$158,084
106,574
^79
1,009
867,799
Plant & equlpm't
Supp.,
13,202
$380,644
239,129
$564,274
316,775
Can.fds.
of U. S.
Govt, securities.
Res. for disc,
Dec.
—mat.
Mlscell. accts. rec.
x
no
purchased
(less reserve)
rec.
securities,
Prem. paid on pref. stk.
26,647
Dep. in closed bank
Notes
38/585
U. S. Govt .sec. owned
for reval. of U. S.
38,615
Dividends paid
29,322
11,500
1,100.000
33,859
32,725
income)
value
surr.
life Insurance
4,281
common
$27,085
(incl.
yCommon stock..
102,751
137,395
210,821
Inventories
1935
loss$79,664
$153,803
1,955
capital
$32,642
payable-
taxes
Dividends payable
Notes & accts. rec.,
less reserves
Cash
$201,909
228,262
from
I
$365,487
Surplus
realized
from
purchase of pef. stock .
stock
185,170
26,200
•
—Not available—
Transfer
Liabilities—
1935
1936
Assets—
$1.94
$101,561
181,225
($365,174
\
Depreciation. _i
30
Condensed Balance Sheet June
Cash
$164,168
$2.51
$127,134
Net to surplus,
1932
1933
1934
1935
Net gain for the year
$564,274
Earns, per sh. on
10, 1936
Inc.—Interest, &c.—
bonds are advised that Central Hanover Bank"&
N. Y. City, is ready to pay the April 1, 1936,
4% per annum and to deliver the new bonds pro¬
vided for in the reorganization plan upon surrender of the old bonds with
the April 1, 1936, and subsequent coupons attached.
*
ml
Under the confirmed plan, the interest due Oct. 1, 1936 is deferred until
1941; but beginning Oct. 1, 1936, fixed interest at the rate of 4% and addi¬
tional interest without limit as to amount is to be paid from 25% of the net
Holders of 1st mtge.
Trust Co., 60 Broadway,
12,403
deposit
Cust.notes
rec...
Cust. accts. rec.
a
inventories.
Other assets.
b Fixed assets.
&c.
Prepaid taxes, in¬
Treasury stock
at
cost.....
40,399
910,263
Surplus
at tne rate of
interest
earnings above operating expenses, taxes, and the fixed interest.—V. 142,
P.
783.
(M. H.) Fishman Co., Inc.—Sales—
Total
..$2,007,916 $1,758,454
Total-..
$2,007,916 $1,758,454
After provision for doubtful accounts of $20,727 in 1935 and
in 1934.
b After provision for depreciation of $1,380,937 in 1935
$10,757
a
273,472 in 1934.
Federal
and $1,Represented by 100,000 no par shares.—V. 143, p. 1878
c
_
$251,179
;
22,086
$239,990
10,185
$258,041
10,127
$273,265
217,136
$250,175
x219,240
1,500
$268,168
234,155
3,500
1,308
18.777
15,240
26.549
loss$9,458
$14,195
$3,965
Total income
Bond interest and premiums.
Directors fees
1,500
44,002
Executive salaries.
i
Other deductions..
Net profit.
x
1934
opers.
equip.)
(after deprec. on prop, and
Income from investments.
Legal fees,
1935
1936
..
Bond interest only.
Assets—
1935
receivable.
Accts.
Adv.
by grain-
83,572
hand...
2,889,467
31,550
31,879
55,712
sec.
Stocks
on
Accrued
earnings.
Prepaid
expenses.
Investments
Bonds of
for sinking fund.
Memberships,
_
1935
$
$
Liabilities—
40,892
292,575
75,175
3,601,832
109,085
33,006
55,562
standing checks.
1,102,420
552,615
Sundry creditors..
Acer,
taxes,
end.
2,367,570
534,889
incl.
z25,742
bds.^3,524,000
116,399
120,195 Pref.shs. (par$100) 3,000,000
y Common shares.
1,250,000
86,001 Surplus
476,048
6,990,468
32,964
3,654,000
i07'^ri
129,022
at
86,001
6,584,038
cost
Properties
Deferred charges._
x
20,000
AU,'OUA
3,000,000
1,250,000
485,506
a decline in the market prices of foreign bonds generally as measured
by accepted indices.—V. 143, p. 270.
Years Ended Apr.
y
p.
Total
10,047,223 11,432,290
x After
depreciation of $2,127,616 in
Represented by 200,000 no-par shares,
2116.
10,047,223 11,432,290
1936
z
and
$1,710,949
1935.
in
Accrued taxes only.—V.
141,
Federal Knitting Mills Co.— Balance Sheet Dec. 31—
surr.
$249,173
838,458
83,493
48,000
$78,219
44,580
20,000
1,300,000
186,540
57,909
assets.
.
commis¬
sions & taxes...
Reserves
x
Other assets
Deferred charges.
Accrued
Common stock..
Surplus
20,000
2,000
8,563
$1,613,923 $1,632,516
•
$1,613,923 $1,632,516
Fisher Mfg. Co.,
Calendar
2,635!
tax—Dr
per
share on
stock
$885,392
$887,409
$899,107
$704,020
Nil
_
Nil
$2.56
$0.78
no
oflnvest:
ments, $7,121, and income from investments, $13,593.
y Includes profit
on sale of capital assets of $3,070, profit oh sale of investments of $8,324,
income from investments of $9,536 and dividends from partly owned sub¬
sidiary company of $4,081, but after deducting interest on mortgages of
$3,847, executive officers' salaries of $60,514 and legal expenses of $2,242.
x
Includes profit on sale of capital assets, $5,296, profit on sale
Consolidated Balance Sheet April 30
Assets—
1936
Goodwill
1
1
Inventory
16,547
22,987
investm'ts
14,000
406,172
2,525
103,570
162,947
280,614
3,851
7,925
14,363
257,606
8,525
39,536
264,290
228,969
4,351
1,041
Sundry
on contr.
contr'ts
Investments
Total
1934
1933
$14,866
$71,375
$16,475
x
$3,053,919 $2,690,786
x
Common stock..
Mtges. pay. 5%..
Account payableTax
reserve
Deprec. reserve
Res. agst. conr'ts.
Insurance
reserve.
Surplus
Total
Represented by 84,600 no par shares.
141, p. 1369.
1935
1936
Liabilities—
1935
Land, plant, &c_.$2,055,767 $1,849,117
Deferred charges..
1935
Years—
Net loss after deprec. & other charges
sur$66,287
637,733
—
Inn
Profit & loss balance.
Accrued interest..
Inc —Earnings—
$9,066 sur$195,087
899,107—
704,020
$2,017
887,409
Balance, loss
Previous surplus
DAmlntAn
12,500
145,920
4,494
Additional Dominion inc.
Uncompl.
Represented by 32,500 no par shares.—V. 141, p. 435.
x
147,468
725
Depreciation
Deposits
Total
91,649
$224,707
40.000
89,582
4,240
Prior year Fed. tax
Tax reserve
Cash
Total
$404,430
21,150
x$89,077
Accts. receivable..
1,300,000
176,388
1933
1934
1935
y91,809
1934
$62,803
1,497
302.872
value of
life insurance.._
Permanent
1935
Liabilities—
Accounts payable.
100,457
1,788
Inventories^.
$320,128
745,081
79,101
300,981
52,172
7,802
106,871
Accounts recelv'ble
Cash
1934
1935
Assets—
Cash
U. S. Govt, bonds.
Ltd.—Earnings—
1936
30—
par common
Total....
247.639
278,313
294,226
face of
Earned
27,500
228,879
239.800
249.870
Foreign Bond Associates, Inc.—Asset Value—
Directors' fees
July 31,'35
.
The company reports that the asset value of its common stock as of
Sept. 30 was $10.33 a share, compared with $10.25 on June 30 and $8.96
on Dec. 31, 1935.
The increase in the common stock asset value since Dec. 31 was in the
Operating profits
est. taxes for yr.
1st mtge. s. f.
229.742
298,662
323,390
275,332
294,952
Common dividends
Bank loans & out¬
Bond redemp. res.
.purch.
co
1936
$
$
37,705
98,276
Cash..
_
Foundation Co. of Canada,
Balance Sheet July 31
1936
June
July
August
September
—V. 143, p. 1557.
$101,306
123.869
126,196
197,556
$154,799
161,205
226.586
214,193
265,007
286,932
315.021
300,316
317,212
281,772
212,259
282.947
337,261
352,253
332,917
340,479
323,779
March.
1933
1934
1935
$165,027^
192,684
1936
$184,107
212,166
April..
May
Earnings—
Grain, Ltd.-
Years Ended July 30—
Income from the company's
Month of—
January
February
$710,000
$710,000
117,500
y229,090
39,943
5,997
900,801
110,619
36,018
887,409
2,709
947,293
125,937
,
35,998
885,392
.....$3,053,919 $2,690,786
y
Includes accrued liabilities.
-V.
Balance Sheet
Jan. 4,
Assets—
x
Investments
Accounts receiv'ble
Inventories..
Mtge. notes rec
Real est. & mchy
Cash in closed bk.
y
Prepaid
'36 Dec. 29,'34
$26,240
$31,799
Cash
insurance
Prepaid taxes.
6,468,
66,494
222,249
23,296
174,647
681
645
280
7,491
33,734
221,018
Liabilities—
Reserves
Capital stock
Paid-in
228" 858
Jan. 4, *36
Accounts payable.
Accrued payroll...
surplus
Deficit
Dec. 29/34
$31,939
8,427
4,960
375,000
296,982
190,850
$29,272
7,071
4,750
z375,000
280,920
175,974
2,785
Foundation Co.
Calendar Years—
Gross income
!'
Deprec. of plant & equip
(Foreign) (& Subs.)—Earnings—
1935
•
71,947
2,645
11,690
Gen. and administrative
and
new
business
Provision for taxes
711
Interest paid
Bad debts written off
200
Loss
on
71,737
2,444
12,190
x
$526,458
After
reserve
for
$521,039
Total
contingencies of $27,834.
$526,458
y
After
reserve
par
value.—Y. 141, p. 2434.
v
"
136,723
2,983
17,115
7,749
6,485
7,448
$521,039
Excess of cost of cap. stk.
for de¬
purchased for retirem't
preciation of $166,543 ($134,883 in 1934) and after deducting depreciated
cost of tenements sold of $35,324 in 1936.
z Represented by 75.00 shares
no
,
-
"T.154
sale of plant & eq
Exchange loss
Total
$40,373
7,194
$28,008 "
'
1,377
$28,068
1,252
63,823
4,213
1,770
1932
1933
1934
$28,781
1,060
over
stated
Net loss
val
-
37
$42,123
$59,467
$68,342
$137,876
Volume
143
Financial
2367
Chronicle
Consolidated Balance Sheet Oct. 31
V* Assets—
equip.
$2
Marketable
Accrued int.
sees.
reo._
Accts. receivable
Inv. in contracts.
Foreign
_
Liabilities—
b$386
113,869
128,239
2,663
11,414
637,027
154,243
527,449
6,523
21,937
773,677
_
Cash
c
1934
1936
Plant and
1935
1934
$408,527
4,629
$408,890
264,556
6,478
596,698
627,585
Analysis on Request
5,112
767,551
Capital stock
a
18,396
956,879
LANCASTER & NORVIN GREENE INC.
Bank loans
Accounts payableRes. for for'n exch.
adjustments
Res. for taxes and
currency
contingencies—
Surplus
assets
subject to
exch. restrictions
ROBERT GAIR COMPANY
COMMON—$3.00 PREFERRED—6% NOTES
122,954
and employees..
Deposits and def'd
2,863
2,639
receivable
Investm'ts at cost-
50,917
7,503
Deferred charges.
For'n exch. adjust.
705]167
51,149
7,655
1,073
736,053
accts.
_
Total
BROAD ST.,
30
Advance to officers
$1,782,517 $2,282,783
A. T. & T. Teletype
Francisco Sugar
Hanover 2-0077
Co.—Time for Deposits Extended—
Leandro J. Rionda, President says:
The company announces that the time
I
.
„
within which deposits of its first
mortgage 20-year 714% sinking fund gold bonds, due May 15, 1942, may
be deposited pursuant to the plan of reorganization, dated July 15, 1936,
with its depositary-agent,
Bankers Trust Co., has been extended up to
and including Oct. 31. 1936.
The response to the plan has been most favorable and at the present
$1,782,517 $2,282,783
Total
N. Y.
NY-1-1786
Represented by 112,590 no par shares in 1935 and 112,690 in 1934.
depreciation of $12,141.
cAt market value in 1934 at cost in
1934.—V. 142, p. 3508.
a
b After
time
Fostoria Pressed Steel
1935
Years Ended Dec. 31—
_.
Depreciation
0801
Other deductions--
18,674
4,044
the company.
Those bondholders who have not as yet deposited are urged to do so at
once.
The certificates of deposit are now listed and traded in on the New
in
decrease
value of securities.
Fed.
for
Cr6,467
of accounts
for
Prov.
$99,619
97,071
$116,216
70,001
26,845
Cr4,366
with closed banks
Prov.
1932
1933
$125,167
86,764
17,741
Cr3,058
Cr6,627
-
Sell. & adminis. expenses
Write-down
1934
$125,422
118,949
15,739
18,540
Manufacturing profit
owners of $1,632,500 of bonds out of $2,880,000 outstanding have
deposited their bonds under the plan.
Holders of 46,600 shares of stock
of the company out of 50,000 such shares outstanding have likewise signified
their assent to the'plan.
The fairness of the plan has made itself apparent
and for that reason as well as because of requests received from bond¬
holders whose consideration of the plan has been delayed because of its
promulgation in the summer months the foregoing extension was sought by
Corp.—Earnings—
current of
taxes
■
143
103
662
$11,664
15,058
$914
13,052
$8,353
12%
Net profit..
Dividends paid
loss$8,465
11,778
26,904
.
Increase in market value
of Fed. Farm loan bds.
Fuller Manufacturing
CV4.025
Adj. of prior yrs., deprec
Balance, deficit
$20,243
229,329
229,780
$12,138
241,918
$14,526
256,444
$209,086
$229,329
$229,780
$241,918
19,330
19,905
27,500
Nil
$0.58
$0.03
27,500
$0.30
$451
(no
par) outstanding.
per share
Earnings
1
i
Fyr-Fyter Co.—Dividend Increased—
The directors have declared a dividend of 30 cents per share on the class A
preference stock, no par value, payable Oct. 15 to holders of record Sept. 29.
Previously regular quarterly dividends of 25 cents per share were distributed
on this issue.—V. 143, p. 428.
General Alloys
Balance Sheet Dec. 31
Assets—
Cash
on
on
hand and
$114,393
Farm
bonds
Loan
U.
&
$15,721
225,
12,06
209,086
Dr5,425
41,152 Profit & loss surp.
7,500 x Treasury stock..
56,116
6,000
.
Participation ctfs.
1934
$11,737
225,000
12,067
9,329
Trade acceptances,
notes & accts.rec
79,149
9,139
expenses
Selling expenses
Engineering expense
Royalties on castings
Accounting department
expense
7,927
Cash surrender val.
Total
of life insurance.
with
Accts.
13,459
&
notes
8,201
expenses
ac¬
Net
profit
$23,270
chinery,
equip.,
117,186
15,522
$456,449
$478,133
Cash
Accts. rec., trade-
Receivables
-
Total
Represented by 575 shares at cost,
shares.—V. 140, p. 2006.
x
Fourth National Investors
9 Mos. End. Sept. 30—
Int.
$456,449
$478,133
Represented by 19,905
z
no par
Corp.—Earnings—
1934
$2,929
496,111
458,936
$715,185
75,651
$497,033
43,050
$461,865
86,089
$415,401
75,267
23,258
18,121
y24,791
21,834
3,867
21,500
$332,866
$292,932
Deferred charges.-
385,977
Prepaid expense.-
plant
x
All taxes,
-
x38,599
"
x22,985
$574,767 ™
$407,737
^
Security Profits Account—9 Months Ended Sept. 30, 1936
$310,013
Excess of market value over cost of investments in common
stocks, less reserve for taxes on unrealized profit:
reported at Dec. 31, 1935 (after reserve of $834,000)----Sept. 30, 1936 (after reserve of $1,427,000) - -
$3,855,252
6,530,464
Increase in unrealized profit after reserve for taxes._
$2,675,212
As
As reported at
-
Change in Net Assets—9 Months Ended Sept. 30, 1936
Total
Per Share
$21,875,892
for
a
c
$43.75
on common
$1.15
Dr .62
5.35
$5.88
1.45
$2,214,965
.
/
$24,090,858
1936
S
24,304,209 20,086,025
formed
to
date closed bank
Cash
Divs.
Res.
liqui¬
' 16,731
1,180.502
receivable..
59,792
28,899
237,046
60,502
$48.18
1936
for
1935
$
Liabilities—
Prov.
for Fed.
3,650
Accrued expenses.
Provision for N.Y.
225
502,000
1,225
15,450
City excise
a Common stock.
500,000
Capital surplus. -26,444,757c26,4441757
(earned)-- 2,853,898
7,054,609,
.
-
$499,848
-
for depreciation,
3509.
reserve
p.
Insurance
Co.-—$5,000,000
Policy Reserves
on
and otherwise, the total liens remaining will be approximately
$16,000,000, as compared with total liens in 1933 of about $32,000,000.
Under the terms of the purchase agreement, the next lien reduction was
not required to be made until Dec. 31, 1937.
However, because of the
progress made by General American Life in administering the assets and
business of the former company under the supervision of Superintendent
O'Malley, the board of directors of General American Life approved this
$5,000,000 advance distribution, which is not intended to take the place
of the lien reduction scheduled for Dec. 31, 1931.
Approximately 150,000 policyholders, living in 18 States and the District
of Columbia, will benefit by the lien reduction.—Y. 143, p. 1399.
-
9 Months Ended
Sept. 30—
stocks
bonds
on
on
Interest
on
Co., Inc.—Earnings—
1936
$805,698
29,568
1935
$573,602
14,911
$835,266
247,500
82,750
-
$588,513
2411,500
5,940
43,636
30.612
26.940
deposits, &c
income
Interest on debentures
Taxes paid and accrued
Transf., regis., trustee, &c.,
expenses
Other expenses—
5 940
1934
$568,337
19,535
1,257
$589,129
247,500
5,940
33,734
Total
25,561,233 20,412,472
stock and warrants less the aggregate present par value of the
stock and organization expenses (incl. commissions paid on
of common stock). d Does not include any provision for
Federal undistributed profits surtax or for Federal excess profits tax.—
V. 143, p. 271.
Syndicate comp. in respect of loan. _.
Net loss on commodity transactions..
Net income
Dividends
on
preferred stock
90,024
74,139
98,803
$378,442
a
Represented by 500,000 $1 par shares,
b Cost of above securities
$16,346,744 in 1936 and $17,224,942 in 1935.
c Capital surplus reflects
the aggregate amount paid to the corporation against the issuance of
issued
deducting
par shares.—V. 142,
Life
American
Total
b After
Amort, of discount on debentures
1,425
500,000
Deficit
common
$499,848
22#% of the present outstanding lien. After this distribution has
made, and after giving effect to terminations by payment of death
Total
35,725
tax
25,561,233 20,412,472'
24,448
148,043
claims
Interest
dl,427,000
State taxes
Total
1
134,787
$3,233,312 was made on Dec. 31,
The $5,000,000 distribution now announced represents an addi¬
$20 reduction on each $100 of initial lien, which will amount to
Dividends
<fc State franchise
Y.
1
162,409
------
148,864
General American Investors
6,000
inc.
taxes
N.
$100)
Common stock-.
60,729 Surplus
26,576
64,655
46,135
2,378
$
Federal
capital stk. tax-
Part. ctfs. in corp.
$4.43
Sept. 30
1935
§
GC CtC
(par
about
2,675,212
'
b Securities owned
stock
46,073
7%
The first lien reduction, amounting to
Dr 310,013
stock.
249,490
136,263
pref.
cum.
General American Life purchased the business and assets of the Missouri
State Life, from Superintendent O'Malley.
$2,939,965
725,000
Balance Sheet
140,982
A
------
Approximately $5,000,000 will be made available Dee. 31, 1936, for the
reductionofliensonpolicyreservesoncertampoliciesissuedbytheMissouri
State Life Insurance Co.
This announcement was made by Walter W.
Head, President, General American Life Insurance Co. after having se¬
cured the official approval of R. Emmet O'Malley, Superintendent of the
Insurance Department of the State of Missouri.
This $5,000,000 lien reduction will be the second made since General
American Life has been administering the business and assets of the former
company under terms of a purchase agreement dated Sept. 7,1933, whereby
574,766
Increase for period—after <
249,490
726
$524,448
General
been
.
726
Represented by 233,612 no
tional
.
Dividends
49,980
56,015 Class
Includes loans receivable,
1934.
period—before dividends:
Net income per income account
.
37,352
Reduction of Liens
of Missouri State Life Insurance Co.—
Loss realized on sale of securities, based on average cost
increase
Reserves.,
------
Additional Available for
Includes Federal capital stock tax.
y
3,335
52,173
pats.
tradem'ks
Total
26,169
and custodians' fees..
Misc. corp. expenses
Prov. for N.Y. State tax
-Net income-.-.——
&
(cost)
1934
$19,517
2,865
43,840
c
1933
$29,422
1935
$28,490
Def'd liabilities
Em¬
Inventories
Goodwill,
Management fee-Transf. agts'., registrars'
Liabilities—
Champaign, 111.,
1935
$922
on
Total income-.
$13,857 Accounts payablea57,638 Acer. taxes & exp-
ployees & others
(cost)_.
b Fixed assets (cost)
$715,185
call loans, &c-Cash dividends
—
1934
$14,258
50,938
Securities
1936
31
1935
Assets—
111,290
13,594
&c.
Total
Sheet Dec.
Balance
Land, bldgs., ma¬
Deferred assets
$32,217
7,483
1,463
......
16,361
8,960
$28,986
3,230
Federal taxes
State and
counts recelv
48,850
46,506
7,341
3,639
3,169
profit
Extraneous
closed
banks
Misc.
$138,494
Gross profit on sales
administrative
Net operating profit.
Extraneous income
34,513
128,868
44,348
Inventory
the Year Ended Dec. 31, 1935
General
z
Capital stock--Capital surplus.--
S.
Govt, securities
1935
payable
and accruals
$100,905
Co.—Earnings-—
Income Statement for
Liabilities—
Accounts
deposit
Fed.
1934
1935
Co.—Registers with SEC—
S3e list given on first page of this department.
Cr2,943
Previous surplus
Balance Dec. 31
Shares capital stock
York Stock Exchange and withdrawals will be permitted as provided in the
plan without charge up to the close of business on Nov. 4, 1936. Company
believes it is to the best interests of bondholders to deposit their bonds so
that sufficient assents will be received by Oct. 31, 1936 to Warrant an
application to the court to permit the plan to be declared effective.—V.
143, p. 2050.
------
■
at
$190,359
$203,152
-
------
$378,442
x360,500
------
----*-
$190,359
360,000
14.186
2,855
$214,483
360,000
common
original
sales
^ *
i.
c
Surplus
$17,942 def$169,641 def$145,517
x Including $500 payable Oct.
15, 1936 on preferred stock called for re¬
demption.
2368
Financial
Balance Sheet Sept.
Chronicle
30
owned,
cost
Special dep. lor tax
in dispute
$
6,600,000
55,000
55,000
120,000
120,000
23,000
stock
accrued..,.Unamort. discount
115,672
debentures..
121,440
machinery and rearranging of the plants and assembly lines of the
for production of the 1937 models to be announced early in
November.
This, it was said, was one of the largest sums ever appro¬
priated in the automotive industry for the change-over of machinery for
company
called
the annual new models.
for
200,500
Reserve for taxes.
479,000
x $6 cum. pref.stk.
3,900,000
y Common stock.
1,300,220
129,360
79,000
.
in
4,000,000
1,300,220
Capital surplus... 14,554,247 14,654,247
on
28,092,197
25,809,4881
823,057drl,041,941
60,173
42,963
December probably will see Chevrolet production in¬
high marks set last year for those two months, Mr. Coyle
said, for the interest shown by motorists in Chevrolet's plans augurs a
large increase in demand.
'
Cadillac and La Salle Sales—
Retail sales of Cadillac and La Salle cars in September were 70% above
that month last year, largest for any September since 1930, and only four
cars under the August total.
Don E. Ahrens, sales manager, said that
\cost and, in the opinion of the directors, a conservative valuation of
securities of Potash Co. of America)
was, as of Sept. 30, 1936, as follows:
Bonds, $1,792,145; preferred stocks, $3,279,912; and common stocks,
$31,158,155.
If the appreciation of $10,378,259 over cost were realized, taxes thereon
(other than the excess profits tax and surtax on undistributed profits)
at present rates are estimated at approximately $2,086,000.
Outstanding warrants entitle holders to subscribe to 500,000 shares of
common stock as follows: 100,000 shares at $10 per share, 100,000 shares
at $12.50 per share, 100,000 shares at $15 per share, 100,OO0 shares at
$17.50 per share and 100,000 shares at $20 per share.
These warrants
expire Oct. 15, 1953.—V. 143, p. 1878.
General Bronze Corp .—President
Action
to
such
.
small drop from
a
September is unusual for this time of year.—V. 143,
1878.
P.
General Capital Corp.—Asset
Value—
The company reports asset
value of its capital stock as $41.42 per share
Sept. 30, 1936, with investments based on market values.
This compares with $37.05 per share on Dec. 31, 1935, and $33.08 on
Sept. 30,1935 —V. 143, p. 587.
on
General
Outdoor
Advertising
Inc.—To
Co.,
Retire
Treasury Stock—
Removed—
The directors of the company have voted to remove E. H. Geiger as
President, according to an announcement made on Oct. 4 by Harold C.
Richard, Chairman of the Board.
Mr. Richard issued the following statement:
"Following the proxy fight which occurred at the annual meeting of the
stockholders last April, the new board of directors elected at that meeting
retained a firm of competent management engineers to make a complete
survey of the affairs of General Bronze Corp.
That survey was duly made
and considered by the board.
Acting on that survey and under all the
circumstances of the case, a meeting of the board was called to consider the
removal of E. H. Geiger as President of the corporation.
Thereupon Mr.
Geiger filed a petition in the Supreme Court to prevent the board from act¬
ing on his removal.
This petition has been denied by the Court.
There¬
upon the directors proceeded to act and have removed Mr. Geiger.
"Pending the election of a President, Walter P. Jacob, the Senior VicePresident, will be in charge."
SEC's
,
,
November and
x Represented by 78,000 (80,000 in 1935) no par shares,
y Represented
by 1,300,220 no par shares.
Note—The value of securities owned, at bid prices (except for $154,162,
the
buyers.
creased over-the
28,092,197 25,809,488
Total
models and that the 10,000 dealers of the company would have display
for announcement day and an ample supply for immediate delivery
cars
to
sold
Total
Muncie, Ind., Indianapolis and Bay City, Mich.
was disclosed that Chevrolet was now engaged in production of the
It
new
securities
Undistrib. income.
,,
_
000.
_
Profit
.
The plants at Flint expended $10,000,000 and those in Detroit $6,000,In Saginaw, $2,000,000 was spent.
Other large sums were expended
red. Oct. 15 '36.
95,990
►
new
Div. on
pref. stock
payable Oct. 1..
Amt. pay. for pref.
1936
M. E. Coyle, President and General Manager of the Chevrolet Motor
Co., announced on Oct. 6 that $26,000,000 had been expended in retooling,
6,600,000
Int. accr. on debs.
Divs. receiv. & int.
on
1935
$
25-yr. 5% debens.
26,851,953 24,087,600
2,003,132
1,473,538
Cash
1936
Liabilities—
$
Securities
at
5*
1936
10,
Chevrolet Expenditures—
~
1936
Assets—
Oct.
Burnett W. Robbins, President in a letter to
stockholders dated Oct. 8
says:
During the last few years your company has acquired 8,525 shares of
its class A stock at an average price of approximately $14.30 per share,
or at an aggregate cost of $121,840.12.
This stock is carried at that amount
as treasury stock in
your company's balance sheet.
All of the outstanding
class A stock, including the shares above referred to, is carried in the bal¬
ance sheet as a liability at the original stated value of $50 per share, which
amounts to $426,250 for the 8,525 shares of class A treasury stock so ac¬
quired by your company.
A a recent meeting the board of directors of your company adopted a
resolution recommending the retirement and cancellation of these 8,525
shares of class A stock, and directed that a special meeting of the stock¬
holders of the company be called to be held on Oct. 28, 1936 at 2 o'clock
p. m. at the principal office of the company at 15 Excahge Place, Jersey
City, N. .J., to consider and act upon the question of such retirement and
cancellation.
I believe it to be to the best interest of the stockholders of your company
Enjoin Alleged Stock Manipulation Ad¬
to retire these
journed—
surplus of
Federal Judge Julian W. Mack on Oct. 2 allowed a two-week adjournment
of the Securities and Exchange Commission for an injunction
Saphier & Co. and Lester and Aaron Saphier from creating
alleged false activity in the stock of the Corporation on the market.
—V. 143, p. 2208.
in the suit
8,525 shares of class A stock, and thereby add to the paid-in
the sum of $304,409.88, being the amount of the
your company
difference between the cost of this stock to the company and the amount
at which it is carried as a liability on the books.
This result can be ac¬
to restrain L. S.
complished provided the holders of two-thirds of the outstanding capital
an
stock of your company vote at the approaching special meeting to amend
the certificate of incorporation and reduce the capital of the company in
General Electric Co.—To Stabilize
A
the manner proposed by the board of directors.
It should also be noted that in addition to the
Wages—
the
stabilization
plan • whereby earnings
of employees automatically
increase as the cost of living rises nave been announced by President Gerard
Swope.
The adjustments are to be made to conform with the index for
the cost of living figures as published by the Department of Labor of
the United States Government.
On that basis, effective Oct. 1, a cost of
living adjustment of 2% is being added to the earnings on the first $3,000
per year of all those receiving not exceeding $4,000 per year.
The plan
provides that if the cost of living goes up, corresponding increases will
be made in employee earnings, up to a maximum of 10% above the level
when the plan was
adopted, and when this point is reached the company
will again give consideration to the question.
If the cost of living decreases,
adjustment will be made downward, but will not go below the standard of
employee earnings in effect when the plan was adopted.—V. 143, p. 2208.
General Motors
pany on
Corp.—September Car Sales—The
Oct. 8 released the following statement:
General Paint Corp .—Application
The
September
cars
to consumers in the United States
compared with
66,547 in
September
a
—V.
ago.
1935
1934
p.
the application of the
under
1936.
1879.
Telephone Corp.—Gain in Telephones—
General Trust of Canada-
_
-Earnings1933
1934
1935
Calendar Years—
Net profit
United States and Canada Plus Overseas Shipments
1936
Approved—
approved
Stilephones.—V. 143, p. 2209.
totaled
in August were 133,804.
Sales for the first nine months of 1936
totaled 1,346,915 compared with 951,373 for the same nine months of 1935.
Sales of General Motors cars to dealers in the United States
totaled
Total Sales to Dealers in
Stock Exchange has
The company reports for its subsidiaries a gain of 2.139 company-owned
telephones for the month of September, 1936, as compared with a gain of
1,237 telephones, for the month of September, 1935. The gain for the first
nine months of 1936 totals 15,316 telephones, or 4.90%, as compared with a
gain of 9,137 telephones, or 3.04% for the corresponding period of 1935.
The subsidiaries now have in operation a total of 327,634 company-owned
Sales
4,669 in September compared with 22,986 in September a year ago. Sales
in August were 99,775.
Sales for the first nine months of 1936 totaled
1,260,154 compared with 975,329 for the same nine months of 1935.
143.
General
com¬
year
Los Angeles
company to list 80,000 shares of pref. stock, no par, which was created
the terms of its plan of capital stock readjustment dated June 15,
September sales of General Motors cars to dealers in the United States
Canada, together with shipments overseas, totaled 19,288 compared
39,152 in September a year ago.
Sales in August were 121,943.
Sales for the first nine months of 1936 totaled 1,516,092 compared with
1,220,182 for the same nine months of 1935.
in
advantage of increasing
the retirement of these 8,525 shares of
$21 per share, will relieve the company from the payment of these accumu¬
lated dividends now amounting in the aggregate to $179,025 and will reduce
dividend obligations of the company on the class A stock by
$34,100 annually.—V. 143, p. 2209.
and
Sales of General Motors
surplus,
the annual
with
85,201
company's paid-in
class A stock, which are entitled to accumulated dividends at the rate of
$4 per share per annum and upon which there has been an accumulation of
$71,978
Dividends.
Real estate deprec.
1932
$87,606
66,000
$69,743
66,000
8,943
66,000
$85,574
66.000
def$2,965
186,887
..
$21,606
161,537
$19,574
183,144
$183,923
Surplus
Previous balance
$186,887
$183,144
$161,537
$3,743
141,962
1933
—
January
February
1587572
144,874
196.721
March
April
May
229.467
222.603
217,931
204,693
121,943
19,288
June..
July
August
September.
October.......
November
......
December
98;268~
121,146
169,302
184,059
134,597
181,188
167,790
124,680
39,152
127,054
182,754
185,698
62,506
100,848
153.250
153,954
132,837
146,881
134,324
109,278
71,888
72,050
61,037
41,594
82,117™
59,614
58,018
86,967
98,205
113,701
106,918
97,614
81,148
53,054
10,384
21,295
Surplus
Balance Sheet Dec. 31
1935
Assets—
Cash in bank
1,715,688
1.240.447
869,035
Accts. receivable.
-
1936
935
102,034
96,134
181,782
200,117
194,628
189,756
March
April
May
June
July
August
;
.
163.459
133,804
85,201
September.....
October-...
November
December
934
...
-54,105
77,297
126,691
143,909
109,051
137,782
108,645
127,346
66,547
68,566
136,589
122.198
23.438
58,911
98,174
106,349
95,253
112,847
101,243
86.258
71.648
69,090
62,752
41,530
933
50,653
42,280
47,436
71,599
85,969
101,827
87,298
86,372
71,458
63,518
35,417
11,951
1.278.996
January
February
cured & accr.int.
Advances to estates
bonds
&
4.
927.493
755,778
Sales to Dealers in United States
...
March
April
May
-
June..
July
August
September...
1935
1934
131,134
116,762
162,418
194,695
187,119
186,146
177.436
99,775
4,669
75,727
92,907
132.622
152.946
105,159
150,863
139,121
103,098
22,986
97,746
147,849
150,010
46,190
82,222
119,858
121,964
103,844
118,789
107,554
87,429
53,738
50,514
39,048
28,344
72,274
50,212
45,098
74,242
85,980
99,956
92,546
84,504
67.733
41,982
3,483
11,191
1,370,934
' 959.494
729,201
October
November....
...
December
i.
Total
1933
Unit sales of Chevrolet, Pontiac, Oldsmobile, Buick, LaSalle and Cadillac
passenger
and
commercial
cars
are
included
in
the
above
304,912
301,356
157,613
510,769
192,449
2
2
497,676
44,741,604 42,055,385
-
8
295
17,445
14,948
16,673
Divs. declared and
Income tax
36,776
Profit & loss acct__
10,681
61,240
5,000
1 ,100,000
183,922
reserve
Unearned fees
Preferred stock
mtges.
1934
1,811
Common stock
Real estate
—
S
payable
1,100,000
186,887
5,000
Estates trusts and
agency accts
42, 066,103 39,259,062
Guaranteed loans- 1, 315,595
1,415,545
44,741,604 42,055,385
Total..
—V. 141, p. 114.
Georgia & Florida RR.—Earnings—
Fourth Week of September —Jan. 1 to Sept. 30
1936
1935
1936
1935
Period—
Gross earnings
$27,175
—V. 143, p. 2209.
Dividend
on
$25,673
$879,803
$839,775
-
Brothers, Inc.—Dividend
New Preferred Stock—
Plan
Voted—Initial
special meeting of stockholders held Oct. 2, the recapitalization plan
applying to the 7 % preferred stock and the $25 a share dividend arrears
the issue, was approved.
The preferred is to be exchanged into 1K shares
of new $6 preferred for each share of 7% preferred, dividends on the hew
stock accruing from Feb. 1, 1936.
Following the stockholders' meeting directors took formal action in
approving an initial dividend, which had previously been indicated, of
$4.50 on the new preferred stock, payable Oct. 25 to stock of record Oct, 15.
This payment takes care of accruals from Feb. 1 to Oct. 25.
Bernard F. Gimbel, President, stated after the meeting that business
for the first eight moihths was well ahead of the like 1935 period.
All
At
1936
January....
February..
148,689
489,919
Estates, trusts and
agency accts
42 ,066,103 39,259,062
Call loans
1 ,315,595
1,415,545
Total-
Accts.
unpaid
Investments, stks.,
Gimbel
Total.
67,495
3,793
Call loans fully se¬
Office furniture
Sales to Consumers in United States
Liabilities—
61,764
4,240
and accrued int.
Total.
1935
1934
$
figures.
on
stores
shared
the
increase.
Exchange Agent—
The Guaranty Trust Co. of New York has been appointed agent to accept
7% cumulative preferred stock for exchange on the basis of 1
shares of
$6 cumulative preferred stock for each share of 7 % cumulative preferred
stock.—Y. 143, P. 2209 1
>
Volume
German Credit & Investment
time, recognize the rights of the respective classes of stock and strengthen
he capital structure of the company.
*
"Although there have been an improvement in earnings," Mr. Litchfield
states, "the payment in cash of over $8,546,000 of accumulated dividends
on the first preferred stock would obviously require some time.
Further¬
more, the company would still be left with the question of refunding the
first preferred stock in order to get the benefit of present-day rates of
Corp.—Earnings—
Years Ended Jan. 31
Income Account
1934
1936
$69,779
5,741
1935
$65,405
625
$41,705
7,449
$75,520
prof .30,972
13,869
$66,030
37,671
11,753
$49,154
106,473
10,948
$92,623
$16,606
(1) Relating to Assets in the U.S.—
Dividends received
Interest received
2369
Chronicle
FlIlX
143
'
Total
income-
Expenses and taxes-
"The
__
remunerations
loss$68,268
on
Lrl",437
Loss on sales of securities
mm
m.mmm.
■
87,411
3,672
Rents received
"6",073
"6", 198
Adjustment (net) to convert receipts
of RM to basis of RM 4.20 to $1
Net profit on sale of securities
"3",579
20,765
Profit
syndicate
on
Excess of amt.
Total
on
—
$53,349
66,893
3,954
528,197
$162,349
64,353
sale of securities
Provision for reserves
present first preferred stock
(a)
Reserve for stock of industrial corp.
francs
or
$5
of
share
surrendered:
preferred
total: (x) $3 of accumulations per
$1.25 per share for each quarter-year
period thereafter.
(b) 1-3 share of common stock.
(c) The privilege of converting the share of new $5 convertible preferred
stock into common stock, up to Oct. 1, 1946, at varying rates, commencing
with the rate of 3 shares of common for each share of new preferred.
See
also V. 143, p. 2210.
40,130
66,369
dollars
54,882
88,954
prof .$8,670
$34,667
$1
bearing cumulative
stock,
converible
share, up to Oct. 1, 1936, and; (y)
r
Adj. to convert RM accepted at rate ol
RM 2.49 to $1 in repayment of dol¬
lar loans & int. to basis of RM 4.201
to
One
dividends from Feb. 23, 1936, which will
3,581
acquired during year
Eich. on liquid, of RM into French
2, to vote on the proposals were
will not become operative unless
three-fourths of the first preferred stock and two-thirds
stock vote in favor of it, and the exchange offer is accepted
by the holders of such a "number of shares of the first preferred stock as
shall, in the opinion of the Board of directors, justify the plan's being
declared operative.
Briefly under the plan it is proposed that a new $5 convertible preferred
stock be authorized by stockholders, senior to the present first preferred
stock in respect to both dividends and assets <
The name of the present
first preferred stock will be changed to "second preferred stock."
Holders who exchange under the plan will receive, for each share of
y2,333
Expenses and taxes
Loss
of the common
$194,255
64,334
income
,
holders of at least
from sale of real
rec.
\
preferred and common stocks are assenting
the plan, although proxies for the special meet¬
ing to be held in Akron, Ohio, on Nov,
distributed only a week ago.
The plan
3.489
estate over cost
missions."
in considerable numbers to
100,584
8,951
2,162
6,431
110,529
6,716
Dividends received
A refunding of
the plan.
Holders of both the Goodyear
(3) Relating to Assets in Germany (x)Interest received and accrued
under
exchanges
soliciting
company
1,536
bonds
for
preferred stock through public financing would have involved the
in very substantial financing expenses and underwriting comV
the first
(2) Relating to Assets in France—
Interest
of the plan, which is confined to the family of Goodyear
is dependent entirely upon their voluntary co-operation.
will not, directly or indirectly, pay any commissions or other
success
The company
Profit,
J
return on investments.
shareholders,
,
$545,693
(H. C.) Godman Co. (& Subs.)—Earnings—
Such of the profit and loss items as were paid or received in Reichsmarks are calculated at RM 4.20 to $1.
Due to conditions now prevailing
x
the value of these items, measured in
During 1935 the equivalent of $98,533
(1934 $113,425) representing income and return of capital, was remitted
from Germany under the regulations issued by the German Government
controlling removal of funds from that country.
and exchange restrictions in force,
terms of dollars, is indeterminable.
y
After applying a reserve for $40,000 provided out of profit
and loss in
years.
prior
Balance Sheet Jan. 31
Assets in United States—Cash
Accounts
1934
1936
in bank
1935
$42,424
Assets-
$61,324
$201,221
23,817
receivable
"5,793
Divs. received & accrued interest-,
Marketable
securs.
at market
Depreciation
amortization
and
Assets in Germany (at cost)—
Cash in bank
Marketable securities
Accrued interest receivable
Long-term loans
Stock of industrial corporation
Real
155,235
Net
1st preferred
on
50,439
125,693
24,401
1,596,615
2
Prepaid taxes
2
2
75,127
7,105
101,475
3,966
$3,891,932
$3,745,734
$2,475
$13,239
5,840
"5",099
y3,843,418
3,873,594
$160,822
597,034
$3,878,300
Capital stock and surplus account.
..
Inventories
2,392,593
87,524
356,145
Other assets
Land
z
Building, machin¬
ery and equip.. 1,586,261
$3,891,932
local
1,577,062
Dies, lasts and pat¬
100,000
111,362
100,000
200,207
Deferred charges..
(20,000 shares), $20,000;
issued
(24,097 shares),
shares, no par; less
Note—Based on the market quotations at Jan. 1, 1936, the value of mar¬
ketable securities in the United States was greater than the above book
by approximately
value
$708,590.—V. 143, p. 429.
revenue-
.
—
1935
-——--------—$139,894
1934
$140,223
1933
$149,794
94,126
93,391
92,334
$46,832
$57,460
14,533
/ 3,940
6,544
127,963
-
Operating revenue
I
Bad debts
J
Depreciation
;
L
Reorganization expenses, &c.
Net
11,985
$31,236
$2,944
52,615
$2,004
26,307
prof$31,236
$49,671
$24,303
Bond interest, &c.
Deficit for year.
$5,480,585 $5,240,237
Total
Cash
Accts.
hand and
on
$31,399
in bank
$50,920
on
Rents
Dividends
5,089
Prepaid rentals
1st mtge. sink.fund
for
pro v.
9,420
*
50
36
sk. fd. investm't
Sundry
investm'ts
2,910
.......
ciation
Capital stock
Deficit
29,893
a
Represented
no
89,445
78,922
mmmmmm
225
1,052,300
136,611
50,728
90,045
75,572
90,045
64,735
1935
Assets—
320,900
to Mr.
28J19
$784,721
1935
1934
Accounts payablePro v. for Federal
$162,289
$276,210
and local taxes.
185,770
2,596,470
244,240
3,062,850
210,781
2,499,690
x
Capital stock
Surplus
Surplus
reserves..
3,416",544
104,400
576,769
Cycle Corp....
76,264
investments
20,271
76,264
3,455
corporations
Stock
Other
Golden
of
Plants, equipt. &
office building..
Total....
Co.—Capitalization Plan, if
Financing Expenses—
Litchfield, would not only adjust the ac¬
share on Oct. 1, 1936, but also
first preferred stock, and, at the sale
dividends, totaling $11.25 per
Liabilities—
1934
604,149
corporation
z
Oct. 5 in a letter to stockholders that
of the company's capitalization now under
avoid very substantial financing expenses
underwriting commissions which would' be involved in refunding the
modify the high dividend rate on the
$607,536
$1,514,311 $2,128,553
447,956
1,069,308
Accounts receiv
247,980
104,461
Notes receivable..
149,662
600,840
Ore in process of
treatment
436,774
339,227
Coal and supplies145,451
161,227
533,849
469,336
15,834
Real estate
P. W. Litchfield, President, states
cumulated
;
Net profit for the year
11,691
the plan for the rearrangement
consideration will, if approved,
and
150,728
485,056
129,648
Other expenses
$7,908,916
14,761
5,587,897
1,386,947
105,871
Stocks of domestic
value.—V. 142, p. 1290.
first preferred stock.
The plan, according
5,706,019
1,494,677
Mill and mine operating expense
Taxes (Federal and local)
1,052,300
171,822
36,776
1,225,428
Goodyear Tire & Rubber
Approved, Will Save Substantial
6,664
...
—
treated
ore
Bonds of domestic
$1,344,244 $1,339,669
by 10,523 shares class A and 7,486 shares cl^ss B common
par
$8,580,330
Total income
Cost of
1,138,518
95,755
Coal lands
y
stock both of
95
6,966
Transfer of mail
y
$1,344,244 $1,339,669
Total
272
599,444
2,745
Freight and passenger trafficExpress and excess baggage..
Switching
U. S. Govt, secur.
Deferred charges to
12,724
operations
37,005
Furnishings & eqpt
Real estate & bldg. 1,226,253
10,069
689,156
Coal and miscellaneous sales.
Midland Terminal—Gain.
Cash
Other reserves
a
fund
investment
1,565,879
5,562,930!
...
Consolidated Balance Sheet Dec. 31
Reserves for depre¬
Montreal Tr. Co.,
Depreciation
15, 1944
50
36
deposit
_
21,897
26,624
38,470
1,445,314
5,690,934
4,384
626,309
40,521
Miscellaneous income
1,904
5% inc. bonds,
maturing June
533
606
Montreal,
bonds.
1934
$54,710
$4,504
393
Accrued interest on
income
1935
$55,034
22,504
24,986
Interest
0
792
792
receiv'le
bad debts
$4,180
by shares of
in 1935 and
Corp. (& Subs.)- -Earnings—
Golden Cycle
Years Ended Dec. 31—
first
bonds
Inventories
City of
Gfi %
1934
Interest on income
int.
income bonds
after
1,904
393
account
Accounts
payable—
Int. on
mortgage bonds.
Cash in bk.,coupon
Cash in bank,
1935
Liabilities—
1934
$5,480,585 $5,240,237
Total
$1,535,705 in 1934.—V. 141, p. 750.
Depreciation and depletion
Balance Sheet Dec. 31
1935
Assets—
1,000,000
122,579
229,601
x Represented by
171,165 no par shares,
y Represented
$100 par.
z After reserve for depreciation
of $1,677,503
Rent expense
revenue
Common
Capital surplus...
41,014
7,898
Operating expenses-
300,000
3,554,804
(6%)
stock
Royalty coal
$45,768
—
-
300,000
3,554,804
stock.. 1,000,000
stock—
pref.
2nd
cumul.
Bullion sales.
Calendar Years—
(6%)
Ore treatment
Gleneagles Investment Co., Ltd.—Earnings—
Total
pref.
cumul.
y
general reserve,
pref. stock, $1,680,and issued, 500,000
3,500 shares held in treasury, and surplus, $245,843.
000.
1st
6,956
19,389
10,069
interest..
Res. for conting..
the value of these assets,
out of amount paid in cash by subscribers to 2d
Common stock and surplus account: Authorized
set up
57,822
deposits & accr.
Due to conditions now
$10,000,000: less purchased for retirement
payments,
2,409,700: balance,
ance, $1,897,575.
share: Authorized and
23,347
surety
Employees
y
iy First preferred, Second preferred, uncalled $100liquidation to $100 bal¬
entitled in liquidation to in per share: Authorized,
$7,590,300: less
$5,692,725:
entitled
per
100,000 shs),
34,160
29,896
able in Dec. 1934
$3,745,734
prevailing and exchange restrictions in force,
measured in terms of dollars, is indeterminable.
45,738
taxes
$131,784
8,783
"
calculated at RM 4.20 to $1.
These assets are
$281,964
9,124
Divs. declared pay¬
x
Total
x
$26,210
Dec. 28,'35 Dec. 1, *34
Liabilities—
$235,564 Accounts payable.
629,496 Accrued royalties2,087,984 Accrued payrolls &
commissions
142,622
356,145 Accrued State and
5,099
3,728,628
26,566
Reserve for taxes
32,887
stock 6%.
$12,006
payable
Dividend payable
33,425
the)
$103,745
18,000
Dec. 28,'35 Dec. 1, '34
Assets—
Accounts receiv
terns
$3,878,300
Total
$92,523
remodeling of
Liabilities—•
Accounts
144,164
$103,745
r
profit
Cash.
64,610
2,107
estate
permanent
general offices
„
Expense in connection with recapitalization of
company and other miscell. special charges
50,828
83,908
93,463
18,417
1,286,320
73,441
513,148
16,647
956,615
German foreign debts
$244,467
7,780
28,
Consolidated Balance Sheet
276,257
43,150
Deposit with Conversion Office for
of
Profit before special charges
Consolidation, rearrangement and
62,411
x
Dec. 1, '34
store fixtures
Division
16
Marketable securities
Year End.
'35
$279,720
20,740
Dec.
operations
Interest paid
1,567",276
1,927,580
2,160,360
prices
Assets in France—Cash
56 Wks. End.
Period—
Profit from
Roadway
Deferred charges..
10,336
1,153",322
y97,978
11,692
$6,251,619 $6,403,225
Total
Total
x Represented
by shares of $10 par
depletion.—V. 143, p. 757.
y
$6,251,619 $6,403,225
After depreciation,
z
After
Graham-Paige Motors Corp.—Prices Reduced—
Reductions ranging from $20 to $145 are revealed in the prices of the
Graham cars for 1937, just announced, by F. R. Valpey, Vice-President
new
Sales Manager.
'
m
—-1
the new lines follow:
^
Supercharge Series 120, business coupe, $945; coupe with rumble
seat, $975; four-door touring sedan with luggage compartment, $995.
and four-door touring sedan with trunk, $1,025.
and
General
Prices
on
Custom
I
Financial
2368
Balance Sheet
1936
Assets—
Securities
P at
1935
$
$
Liabilities—
25-yr. 5% debens.
owned,
25,851,953 24,087,600
cost
Chevrolet
1936
1935
$
Cash
2,003,132
1,473,538
6,600,000
Int. accr. on debs.
55,000
55,000
120,000
120,000
23,000
6,600,000
Div. on pref. stock
payable Oct. 1_.
Special dep. lor tax
in dispute
Amt. pay. for pref.
Dlvs. receiv. & int.
Chronicle
Sept. 30
called
stock
the annual
Reserve for taxes.,
79",000
121,440
129,360
x
$6 cum. pref.stk.
479,000
1,900,000
3,
Common stock.
L,
1, 300,220
1,300,220
Capital surplus... 14,554,247
debentures..
on
14,654,247
_
4,000,000
Profit on securities
823,057 drl,041,941
60,173
42,963
sold
Undistrib. income
...28,092,197 25,809,488
Total
.
28,092,197 25,809,488
Total
Represented by 78,000 (80,000 in 1935) no par shares,
y Represented
by 1,300,220 no par shares.
Note—The value of securities owned, at bid prices (except for $154,162,
the cost and, in the opinion of the directors, a conservative valuation of
securities of Potash Co. of America) was, as of Sept. 30, 1936, as follows:
Bonds, $1,792,145; preferred stocks, $3,279,912; and common stocks,
$31,158,155.
If the appreciation of $10,378,259 over cost were realized, taxes thereon
(other than the excess profits tax and surtax on undistributed profits)
at present rates are estimated at approximately $2,086,000.
Outstanding warrants entitle holders to subscribe to 500,000 shares of
common stock as follows: 100,000 shares at $10 per share, 100,000 shares
$12.50 per share, 100,000 shares at $15 per share, 100,000 shares at
$17.50 per share and 100,000 shares at $20 per share.
These warrants
at
Cadillac and La Salle Sales—
Retail sales of Cadillac and La Salle cars in September were 70% above
that month last year, largest for any September since 1930, and only four
cars under the August total.
Don E. Ahrens, sales manager, said that
such
fight which occurred at the annual meeting of the
stockholders last April, the new board of directors elected at that meeting
a firm of competent management engineers to make a complete
of the affairs of General Bronze Corp.
That survey was duly made
by the board.
Acting on that survey and under all the
meeting of the board was called to consider the
removal of E. H. Geiger as President of the corporation.
Thereupon Mrj
Geiger filed a petition in the Supreme Court to prevent the board from act¬
ing on his removal.
This petition has been denied by the Court.
There¬
upon the directors proceeded to act and have removed Mr. Geiger.
"Pending the election of a President, Walter P. Jacob, the Senior VicePresident, will be in charge."
survey
considered
circumstances of the case, a
8'EC's
Action
Stock Manipulation Ad¬
Enjoin Alleged
to
journed—
Federal Judge Julian W. Mack on Oct. 2 allowed a two-week adjournment
in the suit of the Securities and Exchange Commission for an injunction
L. S. Saphier & Co. and Lester and Aaron Saphier from creating
alleged false activity in the stock of the Corporation on the market.
2208.
to restrain
an
—V. 143, p.
General Electric Co.—To Stabilize
A
Wages—
employees
automatically
President Gerard
The adjustments are to be made to conform witn the index for
cost of living figures as published by the Department of Labor of
United States Government.
On that basis, effective Oct. 1, a cost of
stabilization
whereby
plan
earnings
of
increase as the cost of living rises nave been announced by
Swope.
tne
the
living adjustment of 2% is being added to the earnings on the first $3,000
per year of all those receiving not exceeding $4,000 per year.
The plan
year.—V. 143,
September is unusual for this time of
General Capital
Corp.—Asset Value—
The company reports asset value of its
capital stock as $41.42 per share
Sept. 30, 1936, with investments based on market values.
This compares with $37.05 per share on Dec. 31, 1935, and
Sept. 30,1935.—V. 143, p. 587.
on
General
retained
and
small drop from
a
1878.
p.
Outdoor
$33.08 on
Retire
Inc.—To
Co.,
Advertising
Treasury Stock—
Corp.—President Removed—
The directors of the company have voted to remove E. H. Geiger as
President, according to an announcement made on Oct. 4 by Harold C.
Richard, Chairman of the Board.
Mr. Richard issued the following statement:
proxy
those in Detroit $6,000,-
large sums were expended
Muncie, Ind., Indianapolis and Bay City, Mich.
It was disclosed that Chevrolet was now engaged in production of the
new models and that the 10,000 dealers of the company would have display
cars for announcement day and an ample supply for immediate delivery
to buyers.
Novambar and December probably will see Chevrolet production in¬
creased over the high marks set last year for those two months, Mr. Coyle
said, for the interest shown by motorists in Chevrolet's plans augurs a
large increase in demand.
expire Oct. 15, 1953.—V. 143, p. 1878.
"Following the
models.
new
in
x
General Bronze
-
000.
y
Unamort. discount
•
The plants at Flint expended $10,000,000 and
In Saginaw, $2,000,000 was spent.
Other
--
200,500
Expenditures—
1936
10,
M. E. Coyle, President and General Manager of the Chevrolet Motor
Co., announced on Oct. 6 that $26,000,000 had been expended in retooling,
new machinery and
rearranging of the plants and assembly lines of the
company for production of the 1937 models to be announced early in
November.
This, it was said, was one of the largest sums ever appro¬
priated in the automotive industry for the change-over of machinery for
for
red. Oct. 15 '36.
115,672^—^95,990
accrued..,
\
Oct.
/
dated Oct. 8
Burnett W. Robbins, President in a letter to stockholders
says: '
During the last few years your company has acquired 8,525 shares of
its class A stock at an average price of approximately $14.30 per share,
or at an aggregate cost of $121,840.12.
This stock is carried at that amount
as
treasury stock in your company's balance sheet. All of the outstanding
class A stock, including the shares above referred to, is carried in the bal¬
ance sheet as a liability at the original stated value of $50 per share, which
amounts to $426,250 for the 8,525 shares of class A treasury stock so ac¬
quired by your company.
A a recent meeting the board of directors of your company adopted a
resolution recommending the retirement and cancellation of these 8,525
shares of class A stock, and directed that"a special meeting of the stock¬
holders of the company be called to be held on Oct. 28, 1936 at 2 o'clock
p. m. at the principal office of the company at 15 Excahge Place, Jersey
City, N. J., to consider and act upon the question of such retirement and
cancellation.
1 believe it to be to the best interest of the stockholders of your company
8,525 shares of class A stock, and thereby add to the paid-in
surplus of your company the sum of $304,409.88, being the amount of the
difference between the cost of this stock to the company and the amount
at which it is carried as a liability on the books.
This result can be ac¬
complished provided the holders of two-thirds of the outstanding capital
stock of your company vote at the approaching special meeting to amend
the certificate of incorporation and reduce the capital of the company in
the manner proposed by the board of directors.
It should also be noted that in addition to the advantage of increasing
to retire these
the
company's
paid-in surplus,
the retirement of these
8,525 shares of
class A stock, which are entitled to accumulated dividends at the rate of
$4 per share per. annum and upon which there has been an accumulation of
$21 per share, will relieve the company from the payment of these accumu¬
lated dividends now amounting in the aggregate to $179,025 and will reduce
the annual dividend obligations of the company, on the class A stock by
$34,100 annually.—V. 143, p. 2209.
made that if the earnings, up
grovides in employee cost of living to a maximum of 10% above the level
goes up, corresponding increases will
General Paint
plan was adopted, and when this point is reached the company
will again give consideration to the question.
If the cost of living decreases,
adjustment will be made downward, but will not go below the standard of
employee earnings in effect when the plan was adopted.—V. 143, p. 2208.
company to list 80,000
the terms of its plan
e
when the
General Motors
Corp.—September Car Sales—The
Oct. 8 released the following statement:
pany on
Corp.—Application Approved—
Angeles Stock Exchange has approved the application of the
shares of pref. stock, no par, which was created under
of capital stock readjustment dated June 15, 1936.
143, p. 1879.
Los
The
—V.
General Telephone
com¬
Corp.—Gain in Telephones—
The company reports for its subsidiaries a gain of 2,139 company-owned
telephones for the month of September, 1936, as compared with a gain of
September sales of General Motors cars to dealers in the United States
with shipments overseas, totaled 19,288 compared
39,152 in September a year ago.
Sales in August were 121,943.
Sales for the first nine months of 1936 totaled
1,516,092 compared with
1,220,182 for the same nine months of 1935.
Sales of General Motors cars to consumers in the United States totaled
85,201 in September compared with 66,547 in September a year ago.
Sales in August were 133,804.
Sales for the first nine months of 1936
totaled 1,346,915 compared with 951,373 for the same nine months of 1935.
Sales of General Motors cars to dealers in the United States Tjfotaled
4,669 in September compared with 22,986 in September a year ago. Sales
in August were 99,775.
Sales for the first nine months of 1936 totaled
1,260,154 compared with 975,329 for the same nine months of 1935.
1,237 telephones, for the month of September, 1935. The gain for the first
15,316 telephones, or 4.90%, as compared with a
telephones, or 3.04% for the corresponding period of 1935.
The subsidiaries now have in operation a total of 327,634 cornpafty-owned
and Canada, together
nine months of 1936 totals
with
gain of 9,137
Total Sales to Dealers in United States and Canada Plus Overseas Shipments
1936
-January
1935
1934
158,572
March
144,874
196,721
April
May
229.467
222,603
62,506
100,848
153,250
153,954
132,837
146,881
134,324
109,278
71,888
72,050
61,037
41,594
98,268
121,146
169,302
184,059
134,597
181,188
167,790
124,680
39,152
127,054
182,754
185,698
February
217,931
June
204,693
121,943
19,288
July
August.
September
October
November..
December
telephones.—V. 143, p. 2209.
1,715,688
1,240,447
1936
....
March
April
May
935
102,034
96,134
181,782
200,117
194,628
June
189,756
July
August
September
163,459
133,804
85,201
October
...
November
December
934
54,105
77.297
126,691
143,909
109,051
137,782
108,645
127,346
66,547
68,566
136,589
122,198
•
82,117
1936
1935
131,134
116.762
162,418
194,695
187,119
186,146
177,436
99,775
4,669
April
May
June
July
August
September.
October
November.
December.
Total
...
def$2,965
Previous balance.
186,887
$3,743
183.144
$21,606
161,537
Surplus...$183,923
$186,887
and
commercial
cars
are
97,614
81,148
53,054
10,384
21,295
869,035
deprec—
estate
Surplus
66.000&;
{■
66,000
$19,574
?
141,962
933
50,653
42,280
47,436
71,599
85,969
101,827
87,298
86,372
71,458
63,518
35,417
11.951
927.493
755,778
1933
132.622
152,946
105,159
150,863
139,121
103,098
22,986
97,746
147.849
150,010
72,274
50,212
45,098
74,242
85,980
99,956
959,494
729,201
92,546
84,504
67,733
41,982
3,483
11,191
in the above figures.
$161,537
Balance Sheet Dec. 31
1935
Assets—
Liabilities—
S
61,764
67,495
4,240
3,793
Call loans fully se¬
cured & accr.int.
Advances to estates
&
Income tax reserve
Unearned fees
Common stock
Preferred stock
497,676
Real estate
157,613
510,769
192,449
Estates, trusts and
agency accts—42 ,066,103 39,259,062
Call loans
1 ,315,595
1,415,545
Total
44,741,604 42,055,385
1,811
295
17,445
14,948
36,776
5,000
1,100,000
183,922
16,673
10,681
Dlvs. declared and
301,356
mtges.
S
$
payable.__
304,912
Investments, stks.,
bonds
Accts.
unpaid
148,689
489,919
1934
1935
1934
$
Office furniture
46,190
82,222
119,858
121,964
103,844
118,789
107,554
87,429
53,738
50,514
39,048
28,344
included
$85,574
$183,144
Real
Accts. receivable..
Unit sales of Chevrolet, Pontiac, Oldsmobile, Buick, LaSalle and Cadillac
passenger
932
$87,606
66,000
106,918
1.370.934
March
f
1933
1934
66,000
8,943
Cash in bank
23,438
58,911
98,174
106,349
95,253
112,847
101,243
86,258
71,648
69,090
62,752
41,530
1934
75.727
92,907
.-A'
'
$69,743
59,614
58,018
86,967
98,205
113,701
Sales to Dealers in United States
January...
February..
#4?
$71,978
Net profit.
Dividends
Profit & loss acct._
Estates
trusts
61,240
5,000
1,100,000
186,887
and
agency accts
42,066,103 39,259,062
Guaranteed loans. 1,315,595
1,415,545
Total
.44,741,604 42,055,385
—V. 141, p. 114.
|
Georgia & Florida RR.—Earnings—
Fourth Week of September
1936
1935
Period—
Gross earnings.
—V. 143, p. 2209.
Gimbel
1,278,996
Total.
.
1933
Sales to Consumers in United States
January
February
-Earnings-
1935
Calendar Years—
and accrued int.
Total.
& ,?
General Trust of Canada-
Dividend
$27,175
Brothers,
on
$25,673
Inc.—Dividend
Jan. 1 to Sept. 30
1936
1935
$879,803
$839,775
Voted—Initial
Plan
New Preferred Stock—
meeting of stockholders held Oct. 2, the recapitalization plan
applying to the 7 % preferred stock and the $25 a share dividend arrears
on the issue, was approved.
The preferred is to be exchanged into 1H shares
of new $6 preferred for each share of 7% preferred, dividends on the new
stock accruing from Feb. 1, 1936.
Following the stockholders' meeting directors took formal action in
approving an initial dividend, which had previously been indicated, of
$4.50 on the new preferred stock, payable Oct. 25 to stock of record Oct. 15.
At special
This payment
Bernard F.
for
the
stores
first
shared
takes care of accruals from Feb. 1 to Oct. 25.
Gimbel, President, stated after the meeting that business
eight months was well ahead of the like 1935 period.
All
the
increase.
Exchange Agent—
The Guaranty Trust Co. of New York has been appointed agent to accept
7% cumulative preferred stock for exchange on the basis of 1M shares of
$6 cumulative preferred stock for
stock.—V. 143, p. 2209
each share of 7 % cumulative preferred
i
Volume
Financial
143
German Credit & Investment
Corp.—Earnings—
Years Ended Jan. 31
Income Account
Dividends received.
1936
$69,779
5,741
1934
$41,705
7,449
1935
$65,405
received:.i,.
625
(1) Relating to Assets in the U.S.—Interest
time, recognize the rights of the respective classes of stock and strengthen
the capital structure of the company. '
1
"Although there have been an improvement in earnings," Mr. Litchfield
states, "the payment in cash of over $8,546,000 of accumulated dividends
on
would obviously require some time. Further¬
the company would still be left with the question of refunding the
preferred stock in order to get the benefit of present-day rates of
the first preferred stock
more,
first
Total
$75,520
prof .30,972
13,869
income
Net loss
on
sale of securities
Expenses and taxes
$92,623
$49,154
106,473
10,948
$66,030
37,671
11,753
$16,606
Profit
.
Loss
loss$68,268
Profit
~~6~, 073
20,765
3,489
y2,333
estate over cost
v
Expenses and taxes.
$53,349
66,893
3,954
528,197
$162,349
64,353
$194,255
64,334
Total income
sale of securities
on
Provision for
reserves
or
dollars.
lar loans & int. to basis of RM 4.20
$1
*<
54,882
88,954
prof .$8,670
$34,667
....
Loss carried to operating
surplus.
present first preferred stock
_.
$545,693
the value of these items, measured in
During 1935 the equivalent of $98,533
(1934 $113,425) representing income and return of capital, was remitted
from Germany under the regulations issued by the German Government
controlling removal of funds from that country.
and exchange restrictions in force,
terms of dollars, is indeterminable.
Accounts
1934
1936
1935
$42,424
$61,324
$201,221
23,817
1,927,580
Marketable
securs.
at market
"5,793
_
2,160,360
prices
Assets in France—Cash
loans
83,908
93,463
18,417
1,286,320
24,401
1,596,615
2
Accrued interest receivable
2
2
Stock of industrial corporation
—
125,693
101,475
3,966
75,127
7,105
64,610
2,107
Real estate
Prepaid taxes
50,439
73,441
513,148
16,647
956,615
Marketable securities
Long-term
50,828
276,257
43,150
Deposit with Conversion Office for
German foreign debts
on
1st preferred
$3,878,300
$3,891,932
$3,745,734
$2,475
26,566
$13,239
"5",099
y3,843,418
3,873,594
1, '34
$235,564
597,034
629,496
2,392,593
87,524
Other assets
1,577,062
Divs. declared pay¬
Land
and equip..
calculated at RM 4.20 to $1.
These assets are
200,207
Deferred charges__
100,000
$1,897,575.
ance,
Authorized
share:
set up
000.
issued
and
issued, 500,000
Gleneagles Investment Co.,
1934
$149,794
93,391
92,334
$46,832
$57,460
Operating expenses
Operating revenue
6,544
127,963
11,985
$31,236
$2,944
52,615
$2,004
26,307
.prof$31,236
$49,671
$24,303
Bond interest, &c.
Cash
$31,399
$50,920
Int.
1,904
393
account
on
income
5,089
9,420
606
bad debts
of
5%
deposit.
Montreal
Dividends.
50
36
78,922
225
............
2,910
1,052,300
Transfer of mail
136,611
50,728
90,045
75,572
12,724
operations
37,005
,226,253
90,045
Capital stock...
64,735
11,691
36,776
1,225,428
Net profit for
110
par
Total
$1,344,244 $1,339,669
class A and 7,486 shares class B common
value.—V. 142, p. 1290.
Co.—Capitalization Plan, if
Financing Expenses—
President, states Oct. 5 in a
letter to stockholders that
of the company's capitalization now under
avoid very substantial financing expenses
underwriting commissions which would be involved in refunding the
the plan for the rearrangement
consideration will, if approved,
and
first preferred stock.
The plan, according
_
,,
■
,
,,
,
to Mr. Litchfield, would not only adjust the ac¬
cumulated
dividends, totaling $11.25 per share on Oct. 1, 1936, but also
modify the high dividend rate on the first preferred stock, and, at the sale
$7,908,916
14,761
5,587,897
1,386,947
105,871
485,056
129,648
28J19
$607,536
year
1935
$784,721
Notes receivable.
in
Ore
process
Liabilities—
1934
.
,514,311 $2,128,553
,069,308
447,956
104,461
247,980
149,662
600,840
1934
1935
of
436,774
161,227
339,227
145,451
$162,289
$276,210
185,770
2,596,470
244,240
210,781
2,499,690
Surplus reserves..
:
320,900
Surplus
3,062,850
3,416,544
Accounts payablePro v.
for Federal
and local
x
taxes.
Capital stock
104,400
604,149
576,769
76,264
20,271
corporation
corporations
Stock
—
76,264
3,455
Golden
of
Cycle Corp
Other
investments
Plants, equipt. &
office building.
_
Goodyear Tire & Rubber
Approved, Will Save Substantial
P. W. Litchfield,
the
Assets—
z
Represented by 10,523 shares
stock both of
150,728
(Federal and local)
Other expenses
y
a
5,706,019
1,494,677
Mill and mine operating expense.
Real estate
$1,344,244 $1,339,669
Total
6,664
Rent expense
Cost of ore treated
y
Real estate & bldg.
$8,580,330
Stocks of domestic
Deferred charges to
Furnishings & eqpt
6,966
—
Total income
1,052,300
171,822
Other reserves
a
272
599,444
2,745
95
Freight and passenger traffic
Express and excess baggage
Switching
Coal and supplies-
Deficit
29,893
investment
626.309
—...
Bonds of domestic
Reserves,lpx,depre-
Sundry investm'ts
Depreciation fund
10,069
689,156
Midland Terminal—Gain
treatment
bonds,
ciation
—
1,565,879
5,562,930
Royalty coal
Coal and miscellaneous sales
Accounts receiv
89,445
bonds..
15, 1944
50
36
Co.,
sk. fd. investm't
$54,710
21,897
26,624
38,470
1,445,314
5,690,934
4,384
40,521
Miscellaneous income.
U. S. Govt, secur.
maturing June
...
Tr.
Rents
Consolidated Balance Sheet Dec. 31
792
inc.
1934
1935
$55,034
22,504
24,986
Interest.;
1st mtge. sink.fund
533
Montreal,
Cycle Corp. (& Subs.)- -Earnings—
Cash
Prepaid rentals
for
Inventories
City
Golden
1,904
Accrued interest on
792
receiv'le
pro v.
by shares of
in 1935 and
S4.504
393
.
bonds
income bonds
after
229,601
$5,480,585 $5,240,237
Total..
Years Ended Dec. 31—
6first
Interest on income
Cash in bank, int.
Accounts
on
mortgage bonds
Cash in bk. .coupon
$5,240,2371
$1,535,705'in 1934.—V. 141, p. 750.
1934
S4,180
payable—
Accts.
hand and
on
in bank
1935
Liabilities—
1934
1935
1,000,000
Common stock..
Depreciation and depletion
Balance Sheet Dec. 31
Assets—
$5,480,585
300,000
3,554,804
1,000,000
122,579
x Represented
by 171,165 no par shares,
y Represented
$100 par.
z After reserve for
depreciation of $1,677,503
Taxes
Deficit for year.
300,000
(6%)
stock
Capital surplus
41,014
7.898
Depreciation
Reorganization expeiises, &c.
revenue
pref.
cumul.
„
/ 3,940
Bad debts.
Net
1933
$1407223
$45,768
14,533
-
2nd
3,554,804
stock—
cumul.
y
(6%)
Bullion sales
94,126
revenue.
pref.
Ore treatment
Ltd.—Earnings—
1935^
$139,894
Calendar Years—
Total
429.
approximately $708,590.—V. 143, p.
value by
for conting
1st
6,956
19,389
10,069
interest
stock, $1,680,-
shares, no par; less 3,500 shares held in treasury, and surplus, $245,843.
Note—Based on the market quotations at Jan. 1, 1936, the value of mar¬
ketable securities in the United States was greater than the above book
57,822
surety
deposits & accr.
Res.
$20,000; general reserve,
(20,000 shares),
out of amount paid in cash by subscribers to 2d pref.
Common stock and surplus account: Authorized and
23,347
Employees
111,362
$3,891,932 $3,745,734
Due to conditions now
$100 per share: Authorized,
retirement (24,097 shares),
payments, $5,692,725: bal¬
Second preferred, entitled in liquidation to $100 per
29,896
taxes
able in Dec. 1934
y
y First preferred, entitled in liquidation to
(100,000 shs), $10,000,000: less purchased for
$2,409,700: balance, $7,590,300: less uncalled
34,160
Accrued State and
local
100,000
Total
8,783
45,738
commissions
Dies, lasts and pat¬
the value of these assets,
prevailing and exchange restrictions in force,
measured in terms of dollars, is indeterminable.
$281,964
9,124
payable.
Accounts
Accrued royalties.
Building, machin¬
ery
1, '34
$131,784
Accrued payrolls &
356,145
2,087,984
142,622
356,145
1,586,261
Inventories
z
Dec. 28,'35 Dec.
Liabilities—
$160,822
x
$3,878,300
Total
x
32,887
$26,210
$103,745
18,000
Dec. 28,'35 Dec.
Assets—
Cash
Accounts receiv
"~5~, 099
3,728,628
Reserve for taxes—
Capital stock and surplus account—
33,425
the
stock 6%
Liabilities—
payable
Dividend payable
$92,523
remodeling! of
$12,006
5,840
Total
144,164
$103,745
_
profit
terns
Accounts
$244,467
7,780
permanent
Consolidated Balance Sheet
cost)—
Assets in Germany (at
Cash in bank
of
general offices
Expense in connection with recapitalization of
company and other miscell. special charges
62,411
x
Dec. 1, '34
28,
155,235
Profit before special charges
Net
'35
$279,720
20,740
Dec.
store fixtures
Division
16
Marketable securities
Year End.
56 Wks. End.
operations
Interest paid
Depreciation and amortization
1,567",276
receivable
Divs. received & accrued interest.
bearing cumulative
will total: (x) $3 of accumulations per
and; (y) $1.25 per share for each quarter-year
Consolidation, rearrangement and
Balance Sheet Jan. 31
bank
surrendered:
preferred stock,
converible
Profit from
years.
Assets—
Assets in United States—Cash in
$5
Period—•
of profit and loss in
After applying a reserve for $40,000 provided out
prior
of
share
(H. C.) Godman Co. (& Subs.)—Earnings—
Such of the profit and loss items as were paid or received in Reichsmarks are calculated at RM 4.20 to $1.
Due to conditions now prevailing
x
y
One
period thereafter.
(b) 1-3 share of common stock.
(c) The privilege of converting the share of new $5 convertible preferred
stock into common stock, up to Oct. 1, 1946, at varying rates, commencing
with the rate of 3 shares of common for each share of new preferred.
See
also V. 143, p. 2210.
40,130
f
Adj. to convert RM accepted at rate ol
RM 2.49 to $1 in repayment of dol¬
to
by the holders of such a number of shares of the first preferred stock as
shall, in the opinion of the Board of directors, justify the plan's being
declared operative.
Briefly under the plan it is proposed that a new $5 convertible preferred
stock be authorized by stockholders, senior to the present first preferred
stock in respect to both dividends and assets.
The name of the present
first preferred "stock will be changed to "second preferred stock."
Holders who exchange under the plan will receive, for each share of
share, up to Oct. 1, 1936,
66,369
2, to vote on the proposals were
will not become operative unless
three-fourths of the first preferred stock and two-thirds
stock vote in favor of it, and the exchange offer is accepted
dividends from Feb. 23, 1936, which
3*581
_
preferred and common stocks are assenting
the plan, although proxies for the special meet¬
holders of at least
(a)
Reserve for stock of industrial corp.
acquired during year.
Exch. on liquid, of RM into French
francs
in considerable numbers to
ing to be held in Akron, Ohio, on Nov.
distributed only a week ago.
The plan
of the common
Adjustment (net) to convert receipts
of RM to basis of RM 4.20 to $1
Net profit on sale of securities
Excess of arat. rec. from sale of real
Loss
~~6~, 198
"3", 579
100,584
8,951
2,162
6,431
110,529
6,716
syndicate
on
A refunding of
preferred stock through public financing would have involved the
in very substantial financing expenses and underwriting com-/
Holders of both the Goodyear
87,411
3,672
Rents received
dependent
is
missions."
Lrl,437
(3) Relating to Assets in Germany (x)—
Interest received and accrued
Dividends received
is confined to the family of Goodyear
entirely upon their voluntary co-operation.
commissions or other
of the plan, which
success
company
1,536
_
sales of securities
on
"The
the first
bonds
on
return on investments.
shareholders,
The company will not, directly or indirectly, pay any
remunerations for soliciting exchanges under the plan.
(2) Relating to Assets in France—
Interest
2369
Chronicle
Coal lands
Roadway—
—
Deferred charges..
533,849
15,834
469,336
1,138,518
95,755
1,153",322
10,336
y97,978
11,692
$6,251,619 $6,403,225
Total
x Represented
by shares of
depletion.—V. 143, p. 757.
Total
$10 par
y
$6,251,619 $6,403,225
After depreciation,
z After
Graham-Paige Motors Corp.—Prices Reduced—
Reductions ranging from $20 to $145 are revealed in the prices of the
Graham cars for 1937, just announced by F. R. Valpey, Vice-President
new
Sales Manager.
u,
the new lines follow:
Supercharge Series 120, business coupe, $945; coupe with rumble
seat, $975; -four-door touring sedan with luggage compartment,
$995.
and four-door touring sedan with trunk, $1,025.
^
and
General
Prices
on
Custom
,
Financial
2370
W The Supercharger Series 116 offers six models listing as follows: business
coupe, $865: coupe with rumble seat, $895; two-door touring sedan with
luggage compartment, $865; two-door touring sedan with trunk, $895;
four-door touring sedan with luggage compartment, $895, and four-door
touring sedan with trunk at $925.
The Cavalier Series 95, business coupe, $725; rumble seat coupe, $775;
wo-door touring sedan with luggage compartment, $745; two-door touring
sedan with trunk, $775; four-door touring sedan with luggage compart¬
ment, $775, and a four-door touring sedan with trunk at $805.
The largest reduction of $145 is represented by the price of the Custom
Supercharger Series 120, four-door touring sedan with trunk, as compared
with the Custom Supercharger sedan for 1936 which listed at $1,170.
In
addition the wheel base is five inches longer.
Other 120 models cannot
be compared to those of last year as no comparable models were offered in
Chronicle
10,1936
Balance Sheet March 31
Assets—
$114,108
2,223
7,153,884
7,492,964
52,587
49,313
355
Account
$113,990
1,670
142
recelv--
$13,279
due Apr. 1, 1936
91,483
4H % 30-yr. conv.
debs., due April
1, 1959
4,041,500
from
99,229
_
investments
Prepaid
$9,418
Accrued deben. int.
(less capital res.)
revenue
and
pay.
accrued expenses
Investment secur.,
Acer,
1935
1936
Liabilities—
1935
1936
Cash in banks
Accounts
charges._
$5
cum. conv.
4,390,000
pref.
j
shares
(par $50) 2,000,000
a Common shares1,000,000
Earned surplus—
180,755
1936.
Total
Prices of the new Supercharger
Oct.
Series 116 remain the same as those of
a
the
1936 Supercharger 110.
However, the wheelbase of this series is
increased from 115 to 116 inches.
Reductions of from $20 to $40 have been made in the prices of the new
Cavalier Series 95 models and the wheelbase is increased from 115 to 116
$7,323,158 $7,658,081
-
$7,323,158 $7,658,081
Total
Represented by 250,000 no par shares.—V. 140, p. 4400.
Great Northern Gold
See list given
The business coupe of this series is $40 lower than last season and
the other five models have been reduced $20 each.
2,000,000
1,000,000
155,572
on
Mines, Inc.—Registers with SEC—
first page of this department.
inches.
Prices remain unchanged in the Crusader Series 85.
The two-door
touring sedan with luggage compartment lists at $595; the two-door touring
sedan with trunk at $625: the four-door touring sedan with luggage com¬
partment at
—V.
143,
p.
$665 and the four-door touring sedan with trunk at $695.
1078."
(H. L.) Green Co., Inc.—Sales—
Month of—
1936
February-April
May
-
June
(W. T.) Grant Co.—SalesMonth of—
February—
1936
1934
1935
1933
$5,753,923
April
....
May
.—
$5,578,375
$4,550,096
$4,492,044
6,475,347
March
6,953,195
6,774.303
5.136,568
5,951,919
7.662.787
8,328.257
7,429,574
7,179.255
6.552,836
8,371.061
7,654,459
7,347,316
6,509.624
July
7,074,988
6,277.423
i5.735.776
5.771,013
August..
6,925,305
6,767,022
6,292,108
5,749.845
'
September
—V. 143, p. 1721.
....
7,442,616
6,726,456
6,570,467
6,433,236
Co .—Recapitalization Plan—-Directors
Recommend Payment of $4.25 in Cash and One New Share of
$1.80 Prior Pref. Stock for Accruals of $40.25 on Preferred—
Graton
& Knight
The directors are recommending to stockholders the following plan of
recapitalization to discharge the dividend accruals amounting on Nov. 15 to
$40.25 per share on the 20,565.6 shares of pref. stock.
For each whole share there would be given $4.25 in cash and one share of
new prior pref. stock entitled on call or in liquidation to $36 and mean¬
while to dividends at the rate of $1.80 per annum.
The cash payment
might be increased and the stock rights correspondingly decreased if the
board of directors so determines, so long as the new stock is entitled on call
or liquidation to an amount equal to the difference between $40.25 and the
cash payment, and the dividend rate is equal to 5% of such difference.
• d
As part of the same plan, directors propose to refund outstanding $1,100,000 5H% 1st mtge. bonds with a new bond issue having more reasonable
covenants with respect to maintenance of net tangible assets, and with a
lower interest rate.
special meeting of stockholders has been called for Oct. 30 to act on the
plan.
The proposed refunding and proposed plan both require
approval of 75% of the pref. stock and 66 2-3% of the common.
For tax
purposeses, directors state, it is highly desirable that the entire plan be
accomplished before the end of the year.
In outlining the proposed recapitalization plan to
stockholders, on
behalf of directors, President Frank H. Willard states:
"We are gratified to report that company's business is continuing on a
successful basis.
The improvement in earnings reflected in the annual re¬
port for 1935 is being maintained and current operations are showing con¬
sistent
profits.
Directors feel that future prospects are encouraging
and that the time has come to consider a plan for taking care of the accrued
dividends on the pref. stock and placing the company in a position to pay
its future dividends as earnings permit.
The heavy Federal tax on undis¬
tributed earnings makes immediate action along these lines particularly
desirable.
Directors have chosen the program described as the one available method
of settling accrued dividends that it considers safe, fair to all, and (subject
to your approval) capable of being accomplished before the end of this year.
"The
company's bond indenture contains a covenant to maintain net
tangible assets (as there defined) of $5,250,000, although the bonds now
outstanding amount to only about $1,100,000.
On the basis of book values,
the company's assets do not now meet this requirement.
As a result the
company's credit is somewhat prejudiced and obviously any present dis¬
tribution of cash or property to the stockholders is forbidden.
To correct
this condition and to remove this obstacle to the payment of
dividends,
whether or not the plan for immediate settlement of all back dividends is
adopted, we propose to refund the outstanding bonds through a new bond
issue having more reasonable covenants and a lower interest rate.
We
recommend appropriate action by the stockholders to authorize this refund¬
ing.
"The next question is what should be done about dividends.
The quick
asset position of the company is excellent.
We estimate that as of Sept. 5,
1936, the consolidated current assets amounted to approximately $3,600,000,
of which approximately $287,000 was cash, and that the consolidated current
liabilities amounted to approximately $196,000.
Current reduction of in¬
ventory is increasing the cash on hand.
It should be borne in mind, how¬
ever, that the more price and volume of business increase the more working
capital will be required; and directors feel strongly that it would be impru¬
dent to
adopt a dividend policy that would reduce the company's working
capital to the extent of limiting its operations impairing its credit, or ham¬
pering its normal growth.
"No dividends have been paid by the company since Feb.
15, 1931.
There are outstanding 20,565.6 shares of pref. stock on which
unpaid divi¬
dends accrued to Nov. 15, 1936, amount to $40.25 per
share, or a total of
$827,765.40.
Obviously, it is not possible to pay any large portion of this
arrearage in cash at the present time.
We must choose between allowing
the default to continue until the back dividends can be
paid off by instal¬
ments of cash over a period of years out of
earnings in excess of current
requirements, on the one hand, or immediate full payment partly in cash and
partly in securities on the other hand.
"In the opinion of directors the latter alternative is
decidedly preferable
from the point of view of both the pref. and common stockholders.
It is
possible if, and only if, the stockholders voluntarily agree to it.
We cannot
require any pref. stockholder to accept anything other than cash in discharge
of his accrued dividends, and we may be forced if the
proposed settlement
is made to pay non-assentors in cash or buy back the stock issued to them as
dividend without their consent.
In any event we would not feel safe in
proceeding with the plan unless we
were
prepared to pay the full amount
of the accrued dividends to non-assentors in cash if it should turn out that
are required by law to do so or if it should be deemed
expedient, and
hence if any large percentage of the pref. stockholders decline to
we
accept the
plan, no present settlement will be made.
We have
plan on the stockholders against their will."
no
desire to force the
Mr. Willard states that if is it effected the present outlook for dividends
is "promising," and "it is expected that the next regular
quarterly dividend
the pref. stock will be paid when due on Feb. 15, 1937."
Dividends on the new pref. would, it is proposed, be paid
on
semi-annually.
The amount of bonds for which authorization is tentatively asked is $1,250.000.—Y. 143, p. 1880.
Great Britain & Canada Investment
12 Mos. End. Mar. 31—
Gross revenue
General
expense
Directors' fees
Interest
Net loss
on
1936
$233,527
14,621
5,000
188,723
1935
1934
$235,319
17,467
202,801
220,957
229,427
23,453
6,626^
Net revenue for yearPrevious surplus
-
-
1933
$246,892
14,937
to
^
\
$25,184
155,572
$35,351
120,221
$4,372
115,849
loss$35,029
157,234
Dr6,356
$180,756
$155,572
$120,221
$115,849
Adjustments
2,229,407
2,048,810
2,157,231
2,429,731
2,500,927
-
2,088,155
/
Greyhound Corp.—Will Acceded to ICC Order—
The corporation announced Oct. 7, that it was preparing a petition to the
Commerce Commission in conformity with an order of the
Commission requiring it to obtain authorization for a continuance of control
Interstate
of
a
In
subsidiary through stock ownership.
issuing its order, the Commission gave notice to interstate motor
operators that control of other other carriers consummated after
vehicle
the effective date of the Motor Vehicle Law of 1935 would
unlawful without the approval of the Commission.
The
order
of
the
Commission
from
be held to be
by the Greyhound
Corp. to acquire 56,000 shares of Pacific Greyhound Corp. common stock.
The corporation's statement asserted that some newspaper accounts of
the Commission's order "were garbled and incomplete."
Company Summarizes Case
The corporation's summary or the case read in part as follows:
"After Oct. 1, 1935, the effective date of the Motor Carrier Act, this
company issued or guaranteed securities as follows:
(a) 28,720 shares of common stock were issued in November in exchange
for stock of three affiliated companies, including 56,000 shares of common
stock of Pacific Greyhound Corp., which increased our holdings from a
minority to a majority.
These transactions had all been contracted for
before Oct. 1, but, due to delays in obtaining action by the Securities and
Exchange Commission, the common stock of the Greyhound Corp. was not
arose
a
move
issued until November.
(b)
upon
(c)
Several thousand shares of common stock of the company were issued
conversion of preferred stock, series I.
A bank loan for $500,000 was renewed in November and paid off in
(d)
In
December, 1935, the company endorsed
an
unsecured
note
of
Teche Lines, Inc.
"The foregoing
transactions were all in fulfillment of commitments
entered into prior to the effective date of the Act.
"In our application covering the common stock issued in exchange for
56,000 shares of Pacific Greyhound common stock, we took the position
control of Pacific Greyhound had been acquired previous to Oct. 1,
1935, even though the common stock of the Greyhound Corp., in payment
therefor, was issued after that date.
The Commission stated:
'On the
limited information before us we are unprepared to accept applicant's view
as to the effective date of the acquisition.'
The Commission therefore held
that we should make application to acquire control of Pacific Greyhound.
"The Commission then took up our application to split up the common
stock and change the par value, and found the reasons supporting the pro¬
posed change to be proper and sufficient. It therefore granted this applica¬
tion, provided that the company file an appropriate application for acquisi¬
tion of control of Pacific Greyhound.
that
"With further reference to the stock issued without Commission
authority,
the Commission states: 'Whether or not the shares which were so issued are
void,
they have in
event, as above indicated, a status under law,
properly protect the holders in connection with our
Their holdings are reflected in the total figure of
651,010 shares which is the basis for the conditional authority hereinafter
granted for the issue of 2,604,040 shares of common stock without par value.'
"It seems quite clear from this that the Commission has offered us a
way in which to validate all of our outstanding common stock.
We have
only to make the proper application for control of Pacific Greyhound. The
new split-up no-par stock will then be issued under proper
authority of the
Commission and will, therefore, be valid and duly issued in all respects.""
and
we
feel that
any
we can
order in the title docket.
Removed from
List—
The Chicago Stock Exchange has approved the removal from the list of
651,010 shares of common stock, $5 par, pursuant to Securities and
Exchange^ Commission order granting application of the uompanjr for"
withdrawal.
Trading in this issue was suspended at the close of business
Sept. 21, 1936.—V. 143, p. 2210.
Guarantee Co. of North AmericaYears Ended Dec. 31—
Inc.—Premiums (fidelity
1935
& surety excl.)
Interest and rents
-Earnings—
1934
1933
1932
$534,790
192,718
21,788
....
Reinsurance
Lossespaid.net
Invest. & real est. exps.
Divs. & bonus paid
Profit and loss items
Balance
Previous surplus
Increase in valuation of
bonds and stocks
Balance. Dec. 31
$483,075
232,602
$687,227
297,879
97,684
128,275
41,405
97,472
78,991
$727,050
288,983
107,071
112,328
42,957
97,472
66,863
$715,677
284,960
89,502
146,515
$112,803
4,273,771
Total income
Underwriting exjenses..
$516,265
210,785
$749,296
312,391
96,422
82,170
40,946
97,472
7,090
Reserve fund in trust
$488,191
199,036
loss$54,477
4,328,247
$11,376
4,316,871
$31,128
4,285,743
$4,273,771
$4,328,247
$4,316,871
51,281
97,472
14,819
212,301
$4,598,875
Comparative Balance Sheet Dec. 31
Assets—
$277,622
3,996,055
229,035
in
53,994
course
of collections-
Accrued
$389,104
3,569,349
234,654
69,942
Real est. &bldgs_.
Prems.
1934
1935
Cash
Bonds and stocks.
__
interest-1
Rents due &
accr.J
26,221
J 25,984
1
686
Liabilities—
1935
1934
Unearn. prem. res.
$218,846
$211,020
Losses, pend. & in
proc. of adjust..
Dividend payable.
192,872
24,368
194,250
36,446
All other liabilities
78,896
Voluntary reserves
740,000
Surp. to sharehold, 3,002,847
Capital paid-in—
304,600
25,290
65,952
530,000
2,918,291
State & inc.
24,368
taxes
(estimated).:
304,600
Corp!—Earnings
$255,078
16,925
for'n exch
Total surplus
2,411.795
December, 1935.
A
terms of the
a
2,625.257
July.
August
September
—V. 143, p. 1559.
6,267.376
7,648.879
June.
1935
$1,609,115
1,981,446
2,383,537
2,157,556
$1,867,874
2,043,153
2,521.571
2,514,305
March.
Total
$4,598,875 $4,273,771
Total..--
$4,598,875
$4,273,771
—V. 143, p. 2051.
Gulf States Steel Co.—Files with SEC—
The company on Oct. 2 filed with the Securities and
Exchange Commis¬
registration statement (No. 2-2529, Form A-2) under the Securities
covering $7,000,000 of first (closed) mortgage sinking fund
4j^% bonds, due Oct. 15,1961, and 98,569 shares (no par) common stock.
The company is offering to holders of its common stock of record Nov. 2,
1936 the right to subscribe during the period beginning Nov. 4, 1936, and
ending Nov. 24, 1936, to the common stock being registered in the ratio of
one share for each two shares held.
The price at which the stock will be
sion
a
Act of 1933,
Volume
Financial
143
offered to stockholders is to be supplied by amendment to the
Consolidated Balance Sheet June 30, 1936
registration
statement.
it is stated.
Cash
Trade (Note A)
Inventory
Cash surrender value
additional
working capital.
The price at which the bonds will be offered to the public, the names of the
underwriters, the underwriting discounts or commissions and the redemp¬
tion provisions are to be furnished by amendment to the registration state¬
ment.
\
'A'A. A ' :■■■'A - v
AA A
AA';" A A//r > ; A
.
■
Earnings for 7 Months Ended July 31, 1936
Net inc. after deprec., int., amort. & Fed. inc. taxes
share on 197,500 shares common stock.—_
per
Before surtax
x$279,874
$1.00
...
undistributed profits.
on
Hamilton Bridge Co., Ltd.Calendar Years—
—Earnings—
1935
Operating loss
1934
x$72,442
$169,552
16,590
2,175
4,700
Executive salaries
Directors'fees
Loss
$91,207
Previous balance
1032
1933
$174,252
100,642
def 12,559
Trans, from
securities sold—_
Operating income
$12,559 sur$100,642
sur$278,688
$671
$18,757
Accounts
174,742
245,279
6,500
154,609
Bank overdraft...
247,801
5,200
315,578
Contingent reserve
37,354
Preferred stock— 2,187,500
135,657
9,658
17,157
3,730,285
Deferred charges..
Fixed assets
$1,447,312
-2,333
1,029
3,683
Philippine tax refund
2,245
Cr5,142
—---
Deficit.
Liabilities—
1935
—
Additional taxes for prior years
Territorial income tax accrued
Reserve for Federal capital stock tax
Reserve for Federal income tax—
—-
y
"
---- - -
52,964
18,000
154,000
$1,135,111
1,600,000
1,500,000
$636
<---
287,000
$1,599,364
Balance, deficit
$364,889
-
«...
Balance Sheet Dec. 31
$
Personal
200,068
8,774
198,011
trade
&
56,265
Genl.
17,977
130,294
excise
52,964
tax
accrued
excise
tax
3,600
accrued
unsold
$
$
10,000,000 10,000,000
87,156
74,867
accounts
Territ.
trade
accounts
Liabilities—
Capital stock
Dec. payroll
455,051
434,955
&
1934
1935
1934
§
1
Personal
Territ. income tax
179,759
90,906
accrued
for
Res.
128*658
capital
31,500
287,000
300,000
>,949
Initial payment
Surplus.
Total
..16,070,648 15.449,712
154,000
300,000
4,728,709
Federal
income tax
Dividends declared
6*990
18,000
5,100,182
for
Res.
38,424
2,187,500
1,895,549
3,561,623
12,559
103,767
^"609
31,500
stock tax
Common stock.. 1,895,549
-
130,295
Net profit
$72,988
Bank loan
-
4,792
---
;
1934
$77,121
226,192
payable.
^
Crl,192
90,906
Cr763
Over-reserved for taxes
Territorial excise tax accrued
sugar
-*•
Cash.
Other securities...
490,628
$2,058,205
Sugar suspense...
1934
1935
Investments....
$956,684
360,622
Loss on property & equipment retired
Miscellaneous taxes
Federal income tax refund
Inventory
x
—
»'
Total income
Consolidated Balance Sheet Dec. 31
Life insurance
1934
$4,221,167
3,264,483
$1,697,582
1
Other income
Co., Ltd
After deducting interest on investments of $5,872.
Supplies, &c
1935
---
Property accounts. 11,709,838 11,767,806
Cash
3,548,084
3,018,013
East Mauri Irrig.
13,420
$103,767
Accts. receivable..
Ltd.—Earnings-
$4,828,489
3,130,906
Years—
1935
_
$3,649,402
-
a
Hawaiian Commercial & Sugar Co.,
Assets
47,629
Deficiency—
Assets—
Total
reserve
Calendar
$183,373
533,561
$182,318
282,961
Dr.21,836
i—839 shares at cost
con-
accident insur.
required
Adjust, for invest,
to
market value & profit
not now
x
Preferred stock held in treas.
$3,649,402
After
$12,500.
Receipts
Cost of production
ting.,
on
Deficit
11,327
24,343
71,500
for
res.
119,837
b894,560
753,682
Common stock
Dividends
Preferred dividends
1,051,500
of $50,000.
y After reserve of $221,082.
z After reserve
After reserve for depreciation of $1,298,267 and after reserve
for obsolescence of $110,301.
b Represented by 101,312 no par shares..
Note—This balance sheet does not include the remaining assets of three
companies acquired as of March 12, 1932, carried on the books of the sub¬
sidiary company at June 30, 1936 at a value of $30,318 but which were
held for liquidation for benefit of the former stockholders of these com¬
panies.
Subsequent to June 30, 1936, the company agreed to pay the
trustee for the former stockholders in final settlement therefor, approxi¬
mately $11,500 for inventories carried at $27,458 and to return to the
trustee the remianing assets amounting to $2,859.—V. 143, P. 2211.
x
of
$183,373
$182,318
28,500
(exclusive of de¬
7% cumul. (par pref. stk $100) 2,000,000
Property, plant & equipment.al,037,912
Unexpired ins. prems., prepaid
& deferred taxes, &c
26,452
Co.—-Selling Group Terminated—
The selling group for the recent issue of $17,300,000 4% 1st mtge. &
refunding bonds, series O, due Oct. 1, 1966, and $4,000,000 4^% deben¬
tures due Oct. 1, 1946 has been terminated, it was announced Oct. 5 by
Stone & Webster and Blodget, Inc., which headed the syndicate.
The
proceeds from the sale of these bonds will be used to redeem on Oct. 31 the
outstanding 5% series A first mortgage gold bonds and the series B 4)4%
first mortgage bonds.—V. 143, p. 2211.
*
'
130,909
one
Reserves—
12,090
z39,594
preciated value-
Balance sheet as of July 31, 1936 shows current assets including $475,280
amounted to $5,152,479, while current liabilities were $911,249.
On Dec. 31, 1935, cash amounted to $664,626, current assets totaled $4,-
Gulf States Utilities
within
±
Funded debt
presses—de¬
Insurance fund
casn,
609,953 and current liabilities were $727,656.
Total assets on July 31,
last, were $27,999,167 comparing with $27,741,526 on Dec. 31, 1935.
Capital surplus was $1,294,587, against a similar amount at close of 1935,
and earned surplus was $1,972,140 compared witn $1,834,817.—V. 143,
p. 2210.
year
...
due
debt
bentures due in 1936)
Other assets
& rented
Funded
xl,161,147
yl ,050,444
of life ins.
28,278
Total
bonds and common
Accrued liabilities
Officers & employees accounts
receivable & advances
Loaned
$199,614
Accounts payable
$257,810
Receivables & accrued interest
-.
The balance of the proceeds from the sale of the
stock will be used for additions and improvements or to provide
x
Liabilities—
Assets—
According to the registration statement, the net proceeds from the sale
of the bonds will be applied as follows: $4,625,312 to the redemption on or
about Dec. 1, 1936, at 102^%, of $4,512,500 of 15-year 5H% sinking fund
gold debentures, due June 1, 1942.
Interest on the debentures to be re¬
deemed will be paid out of the general funds of the company.
The com¬
pany also proposes to deposit part of the net proceeds from the sale of the
bonds with the trustees of the first (closed) mortgage, to be withdrawn
from time to time prior to Nov. 1, 1938, to provide for the cost of "fixed
additions" at the steel plant owned by the
company at Alabama City
(now Gadsden), Ala., or to bo used for the redemption of bonds.
The company will use approximately $2,200,000 of the net proceeds from
the sale of the common stock to the extent necessary to redeem on Jan. 2,
110%, 20,000 shares of its outstanding first preferred stock.
It is antici¬
pated that all accrued unpaid dividends on this stock will have been paid
on or prior to the date of
redemption out of general funds of the company,
Earnings
2371
Chronicle
...—16,070,648 15,449,712
Total
-V. 143, p. 112.
Total.
x
no
In
...$4,423,717 $4,323,120
Dominion
of
Canada
par value common
Total, f
bonds,
Hamilton Cotton Co., Ltd.
Years Ended—
z$256,281
44,715
99,325
Bond interest-.-...-^.
Depreciation
for
Fed.
and outstanding
100,000
Hawaiian Pineapple Co., Ltd.—Extra
(& Subs.)—Earnings—
$291,149
46,420
102,413
both
were
x$56,948
49.500
56,044
y$57,964
46,420
payable
made
on
Oct. 31 to holders of record
July 31, last.—V. 143, p. 274.
1935
Cash
25,000
1,400
22,000
1,400
1934
$85,841
28,518
$118,916
$350,442
285,433
$287,661
402,099
Accounts receiv'le.
474,568
115,211
451,128
Merchandise
taxes
Directors' fees
827,330
•
Income tax (prev. year)
1,219
Previous surplus
Lass on bonds purchased
Res.
"5",833
"*1,389
1,642
$113,083
282,375
$10,155
242,818
def$50,238
293,056
for
x
$366,055
$421,625
$252,973
$242,818
Includes profit from purchase of companies 1st mtge. bonds of $22,710.
After depreciation,
z
After executive remuneration of $29,700.
Assets—
Investments
.....
hand
on
468,658
Prov.
Dep. with fire ins.
companies—._
x
28,562
1,839,717
15,624
1,750,358
16,679
Real estate, &c._
Deferred
expense.
10,710
for
x
k
$2,608,661 $2,743,239
After
y
$20,859
24,772
230,000
11,192
Federal
25,250
22,000
85,000
85,000
780,000
570,360
600,000
421,625
813,000
Secured notes
1st mtge. bonds...
Conv. pref. shares
Common shares.
Surplus
1934.
$69,421
30,826
15,000
11,178
& other taxes...
y
Total
Dec. 28,'35 Dec. 31/34
$218,656 Payables..
15,964 Accrd. wages, &c.
5,952 Bank loan
625,678 Bond int. accrued.
$211,116
142,332
3,992
Cash
Stock
Liabilities—
Dec. 28,'35 Dec. 31,'34
Receivables..
570,360
600,000
366,055
$2,608,661 $2,743,239
Total-
reserve for depreciation of $1,017,171 in 1935 and $946,286 in
Represented by 20,000 no par shares.—V. 143, p. 1559.
Harris-Seybold-Potter Co.—Registers with SEC—
I? See list given
on
first
page
of this department.
Oper. profit before deprec. but after deduct, cost of goods sold,
as well as selling, adminis. & gen. expense
—
Interest & discount earned & other income
Other charges incl. bad debts & provision for
receivables_
Net profit
per
Dr. 20,396
on
101,312
com.
Treas. stock..
Def. charges
shares..—
_
49,753
32,994
362,785
2,245,988
1J25.934
12,632
$772,577
85,923
—
.....
....
75,758
85,000
$525,895
$3.86
.
746,400
1,596,804
2,495,442
13,957
Total.........$6.524.391
$6,049,017
...
.$6,524,391 $6,049,017
* Total.
Depreciated value.—V. 141, p. 752.
(Walter E.) Heller & Co., Chicago—To Sell $2,500,000
Notes—~
The
company,
instalment
bankers
and factors of Chicago and
New
York, have arranged with F. Eberstadt & Co., Inc., for the sale of $2500,000 10-year 4% notes with warrants attached.
It is expected that the
public offering will be made about Oct. 27.
The company has filed
with the'SEO
a
registration statement for $2,-
500,000 10-year 4% notes, 35,000 shares of common stock ($2 par), and
for 25,000 shares of common.
The funds derived from this
warrants
proposed financing would be used to increase working capital and
broaden
the volume of business.
Each note will carry a non-detachable warrant to
of common stock at $10 frofn Jan. 1, 1937, to and
purchzse one snare
including Dec. 31,
$12.50 thereafter to Dec. 31,1940, and at $15 thereafter to Dec..31,
1938: at
1941.—V. 143, p. 1722.
Net sales.
Cost of sales
Co.—Earnings—
Dec. 28 '35
.....
...
$2,448,280
2,341,369
Dec. 29 '34
$1,820,955
1,862,720
Dec. 30 *33
$1,535,551
1,402,212
~
Interest expense
Miscellaneous expense
_.—...
*
$106,910
179,756
3,606
income &
;
share
fixi, &o.
Profits from operations
loss of sundry
i
$210,370
1,000,000
$258,627
1,000,000
746,400
Surp.—Appree. of
publishing rights 1,875,853
Undivided profits. 2,643,511
58,487
Profit before deprec., int. on funded debt & Fed.
excess profits taxes
Depreciation on plant & equipment
±
Interest on funded debt
Provision for Federal income & excess profits taxes.
Earnings
Furn. &
447,282
Years Ended—
$734,486
1934
1935
Liabilities—
Accts. pay.
Preferred stock—
Common Stock
122,234
Hill Manufacturing
,,
Earnings for the Year Ended June 30, 1936
_.__^
life ins. policies.
Real estate
x
Balance Sheet
.
.
value
Publishing rights.
Dr29,402
Total surplus
y
surr.
Plates.
non-recurrent
losses, &c
x
Gash
x
535
redemption
*
166,732
52,054
31,428
357,062
1,966,939
1,107,586
Notes receivable..
"
285,433
mar-
ketable sees
def$48,596
$56,104
366,055
_
Balance, surplus
for
$11,544
Similar payments
21.
'
808,547
190,191
Ctfs. of deposit...
Govt. & other
Net profit
Preferred dividends
Oct.
(D. C.) Heath & Co.—Balance Sheet Dec. 31Assets—
other
&
Dividend—
The directors have declared an extra dividend of 25 cents per share in
addition to a regular quarterly dividend of like amount on the common stock
Dec. 28, '35 Dec. 31, '34 Dec. 31, '33 Dec. 31, '32
Operating profit
Prov.
$4,423,717 $4,323,120
Issued
shares.—V. 141, p. 921.
y
Net loss for year
Deficit at beginning of year
Profit on bonds purchased
Ohgs. on acc't of dis. of fixed assets.._
Charges applicable to prior years
Deficit at end of year—......
$76,452
1,044,920
Cr28,197
424
$133,340
191,014
def $41,765
200,003
Cr254
\m
537
$58,211
721,528
$241,513
795,568
w
mini
7,838
$1,093,599
15,829
$1,044,920
$795,568
Financial
2372
Home Dairy
Comparative Balance Sheet
Dec. 28 *35
Assets—
Cash..
$27,313
177,977
368,780
120,172
Accts. receivable-.
.
Inventories-.
.
Investments
.
Plants
x
Dec. 28 *35
Dec. 29 *34
$47,297
payable.
2,504,936
yNotes payable
$95,752
2,354,984
11,326
Dec. 29 '34
$77,073
171,224
435,424
120,172
2,003,529
.
.
Prepaid expenses.
Cotton margins.
22,925
2,424
_.
Cash in closed bks
Total
Liabilities—
Accounts
Accrued liabilities.
116,771
lstmtge. 6% bds._
Capital stocck—
800,000
1,093,599
z
Deficit
29
$2,832,772 $2,733,343
1,044,920
$16,521
Net profit
have declared
Balance Sheet Dec. 31
share in
Cust. accts. (net).
Inventories
addition to the regular
quarterly dividend of like amount on the capital
stock, par $1, both payable Nov. 14 to holders of record Oct. 31.
Extra
dividends of 10 cents per share were distributed on Feb. 15, last, and on
Nov. 15, 1935.
See V. 142, p. 2829 for detailed dividend record.
1934
Calendar Years—
~
1935
Gross profit from sales
1
Cr 12,736
102,632
„-
53,803
Dividends payable
Accrued expensesProv.
Balance Shee
Assefs—
Receivables
Inventories
Liabilities—
217,907
237,186
Unexp. Ins., sup.,
Class A stock.—
y
Class B stock...
Kegs,
37,294 Misc.
52,338
174,110
425,050
269,596
Paid-in surplus.—
&
cases
bottles
Plant prop
272,409
290,323
1,501,191
Construct. In
proc.
1,323,013
192,520
15,000
„
Organ, exp., &c._.
15,000
Home Dairy
24,006
91,381
649
held
con.
by cust
224,410
245,962
contracts
Capital stock
Earned Surplus.
$2,469,694 $2,376,444
300,000
1,269,140
264,146
$2,469,694 $2,376,444
Totak
After
a
reserve for losses of $15,000 in 1935 and $12,000 in 1934.
b After
for depreciation,
c Represented by shares of $1
par.—V. 143,
Oct. 15 to holders of record Oct. 5.
Miscellaneous
1935
revenue-.
Homestake Mining
f
Honomu
$2,309
$21,875 prof$51,720
1(4,625
14,260
13,330
$12,316
16,250
def$7,615
16,250
$65,050
16,250
$600
loss$3,934
—
Assets—
61,433
27,680
3,388
643,360
1,890,733
I
Investments
Accounts payable
Wages accrued
Other income charges—
fund
1,000,000
d Preferred stock
*
for
reserve
doubtful
Fgr compensation claims,
P»
«•
-
705,700
300,000
_
231,681
.j
b To
subsidiary
companies.
d Represented by shares of $100 par.—V. 141,
Hilton-Davis Chemical Co.—Registers with SEC—
See list given on first
page of this department.
'
«■
UK®?14*--
1935
Assets—
Life
a
1935
$407,585
50,000
34,750
301,643
497,963
8,071
87,528
....
insurance..
Acc'ts receivable..
Inventories
Sundry accts.
rec.
Investments
Deferred charges &
!( other assets
6,623
Real estate, bldgs.
and
$542,464
182,715
68,457
$291,291
Acc'ts receivable.
*
Liabilities—■
1935
par value)
Appraisal surplus-
1,088,853
408,974
1,368,828
Earned surplus
-i.$4,200,226 $6,113,6291
t
Brewer
Total
1934
1,227,000
1,969,372
1,088,853
474,219
1,171,408
$4,200,226 $6,113,629
b After depreciation of $2,183,152.
c Depre¬
not been deducted to arrive at this
figure.
Depreciation is
the liability side of the balance sheet.—V.
141*, p. 2436.
has
carried
on
(Charles E.) Hires Co,—Common B Dividends Resumed—
The directors
on
Oct. 5 declared
dividend of $1 per share on the class B
common stock, payable Oct. 16 to holders of
record Oct. 13.
This will be
the first dividend paid on the B stock since
was
a
also distributed.—V. 141, p. 3379.
Sept. 1, 1932 when $1 per share
Holeproof Hosiery Co.—50-Cent Preferred Dividend—
.
The directors have declared a dividend of 50 cents per share on the
2-3% cumulative preferred stock, par $60, payable Oct. 10 to holders
of record Oct. !.
A similar payment was made on July
10, last, and an
initial dividend of $1 per share was paid on
April 10, last.—Y. 143, p. 1559.
.
6
Hollingsworth & Whitney Co.—Balance Sheet Dec. 31—
1935
1934
$
$
Assets—
Real estate,
mach.,
tools, &c
Merchandise
Inv. in Can.
co—
633,463
4,929,186
3,977,219
Brassaua storage..
Deferred charges..
4
1935
220,587
124,520
6,977,573 Capital stock
1,732,126 Su$lus
487,375
I
5,441,211
3,977,219
220,587
138,666
—
1934
$
Liabilities—
Accounts payable.
6,150,008
1,812,360
Acc'ts receivable..
Cash & securities.
&
Co.,
217,206
138,948
30,589
1,186
Ltd., agents
Cash
account
items.—
$
$7,072
-
10,753
9,131
480
1,250,000
2,161
,
excise tax
786
8,305
——
4,592
374,987
Surplus account—
x
Represented by shares of $20 par. -Y. 143,
Honolulu Plantation
-
——
346,669
$1,673,874 $1,634,572
Total
$1,673,874 $1,634,572
Total
P.
589.
Co.—Earnings—
1935
1934
1933
1932
$2,886,667
x2.929,492
$2,804,893
x2,751,371
$3,575,388
3,018,178
$3,245,848
3,062,837
loss$42,825
y502,643
$53,522
118,759
$557,210
95,573
$183,011
77,936
$459,818
63,188
$172,281
42,639
$652,783
131,378
$260,947
Calendar Years—
proceeds
Cost, deprec., &c
Total income.-.
Other deduc. (incl. tax).
on divs. not withheldL
56,895
Tax
Crl,878
charged to expense—
$396,629
450,000
Balance, deficit
$129,641
487,500
$523,282
600,000
$204,052
$53,371
Net prof, to sur. acct_
Dividends paid
$357,859
$76,718
$195,948
400,OpO
x After deducting molasses sales of $22,305 in 1935 and $10,998 in 1934.
y Including amounts received from Secretary of Agriculture, net, of
$324,847.
Comparative Balance Sheet Dec. 31
1935
Assets—
Cash
Ctfs. of deposit.
—
Accts. receivableSales in suspenseInventories
............
214,914
8,925
517,693
893,688
Accrued interest..
Investments
Growing crops
Land, buildings &
equipment, Ac- 3,193,568
Accounts
$54,628
50,000
Tool
drafts..
$185
$5,397
1,097
53,945
5,068
43,517
.
Bango deposits...
33~3l5
30,509
1,393
deposits
100,234 Accrued wages
340,670 Accrued rentals..
258,735 Accounts payable.
8,994 Market charges on
sales in suspense
517,694
794,221 Unsettled labor...
23,736
32,642
2,627
913
46,922
_
»
1,470
llabil—
14
Fed'l Income tax-
3,310,023
receiv'le
in suspense
Suspense
Prepaid rents
Honolulu
1934
1935
Liabilities—
1934
$429,806
50,000
110,623
42,793
6,675
19" 078
2,498
37,988
18,828
7,000
4,651
Misc.
curr.
21,243 Territorial inc. tax
17,662 Accrued Territorial
excise tax
53
2,977
Add'l Fed. income
160,641
175,838
15,000,000 15,000,000
2,686,702
1934
1935
Liabilities—
income tax
$105,667
11,247
65,860
'Cash surrender value,
ciation
.
Gross
-
$56,488 Trade accepts.pay.
$57,107
268,700 Bond interest
10,775
28,450 Accruals.
90,187
358,834 1st mtge. s. f. bds. 1,175,500
382,009 Res. for deprec. &
accts. receivable
5,342
40,558 Capital stock (no
12,232
$93,552
sur$7,255
Res. for Territorial
1934
equlpment.b2,806,062 c4,961,014
Total
.
1934
(6%)75,000 (2%)25,000
$88,556
v.
$664,436
185,146
Balance Sheet Dec. 31
loan
''
■
$413,123
—--—--
Net profit before income tax
Cafh
-
Inventories
Deferred
66,167
SS^LQnrBond interest
2,627
$796,823 Unsettled labor ac¬
count
$606
220,373
11,820
38,054 Payroll
52,107 Personal and trade
accounts9,363
9,869
714
174,200 Unpaid checks
x Capital stock—.
1,250,000
18,710
177,321 Res. for Fed. taxes
3,080
138,729 Res.for cap.stk.tax
26,309 Res. for Territorial
Paper Co. of Canada, Ltd.—Earnings
Calendar Years—
Call
$850,133
187,463
25,822
40,145
8,180
174,200
—
Advs. to planters-
Store
Hinde & Dauch
loss$68,552
1934
1935
(net)
Crops
C.
accounts,
$82,255
$15,280
Assefs—
Properties
Stocks
Total
$2,627,378
After
loss$13,556
------
Comparative Balance Sheet Dec. 31
1st
Reserve for contingencies
Earned surplus
a
loss$65,925
.-.(7%)87,500 (6%)75,000
paid
Balance, deficit!
5,416
10,074
mtge. bonds
d Common stock
Reserve
$105,753
17,688
5,810
7,797
Bond interest accrued
c
$4,081
4,599
a3,037
$72,220
Taxes
$33,889
7,819
..
688,944
$57,549 loss$l 10,380
48.204
44,455
2,802
$101,405
26,382
Total income
Dividends
Bank overdraft
loss$52,405
56,486
34,161
Other income
$726,879
669,330
$574,395
626,801
$67,244
Net income
Liabilities—
$781
Accounts receivable
Inventories
a
1933
1934
1935
$709,740
642,496
_
Operating profit
Balance Sheet Dec. 31,1935
Cash
Sugar Co.—Earnings—
Operating income
Oper. & marketing exp.
loss$23,865 *#^$48,800
«,* After operating expenses and miscellaneous revenue and after taxes of
$10,197; executive salaries of $7,393, and directors' fees of $200.
Co.—$2 Extra Dividend—
share in addition
monthly dividend of $1 per share on the capital stock, par
$100, both payable Oct. 26 to holders or record Oct. 20.
Similar distribu¬
tions were made in each of the 27 preceding months.
The company paid
extra dividends of $1 per share and regular 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. 1559.
The directors have declared an extra dividend of $2 per
to the regular
Calendar Years—
x$16,850
16,250
_
account
payable
July 15,
April 15 and Jan. 15, last, and on Oct. 15, July 15 and April 15, 1935,
distribution to be made on tnis issue since April 1,
1932, when a regular quarterly dividend of like amount was distributed.
Accumulations after the payment of the Oct. 15 dividend will amount
to $5.50 per share.—V. 142, p. 4342.
1932
1933
,
...
\
Un-
Total income
Interest on bonds
Net profit—
1934
/ availa'e
A similar payment was made
this latter being the first
Hillcrest Collieries, Ltd.—EarningsCalendar Years—
Net loss after aU exps—1
Co., Inc.—50-Cent Class A Dividend—
The directors have declared a dividend of 50 cents per share on
of accumulations on the $2 cumulative class A stock, no par value,
11,500
6,000
300,000
1,258,107
493,602
Paid-in surplus
reserve
$1,126,625 $1,147,686
x Represented by 17,411 no par shares in 1935 and 18,718 no par shares
y Represented by 85,010 no par shares,
z Less depreciation of
$322,839 in 1935 and $288,256 in 1934.—V, 142, p. 4342.
1934
$183,071
8,139
$37,054
1,853
15,095
112,024
unemploy.
Lla.i for
130,975
surplus—
Total
Reserve for loss on
c
Total
$1,126,625 $1,147,586
in 1934.
profit
fund
res.
5,000
37,000
187,180
425,050
273,312
153,536
22,000
x
""$0.84
net
the
1935
Pro v. for taxes
&c._.___
b
mortgage
Long-term lndebt-
Dec. 31,1935
$202,416 Accts. payable
154,585 Oust, credit bal.__
179,205 Accruals
$155,747
a
,
1934
1935
Cash
2,090
10,000
real
on
Pay. onlandcontr.
due during 1935
Total
$1.16
Note—Provisions for depreciation deducted in arriving at
amounted to $189,126 in 1935 and $165,951 in 1934.
2,130
20,000
taxes..-
$252,794
$349,456
120,000
,
$36,320
9,359
8,737
Federal
for
income
Payment
Earned
Net profit
Cash dividends paid.
Earn, per sh. on 300,000 shs. of cap. stk., $1 par
1934
$66,607
8,705
7,451
payable.
Accounts
estate
432,114
11,500
4,272
Cr8,467
79,554
Provision for loss
Other income
Provision for Federal and State income taxes
Deferred charges..
$771,767
$987,418
548,065
Shipping, advertising, selling & general exps.
on hop contracts
Net loss from oper. of prop, not used in bus., &c.
-
Perm't assets
z
$33,616
7,811
96,292
32,016
943,825
34,026
9,589
94,011
19,837
909,951
-
Other assets
1935
Liabilities—
1934
$39,434
Cash..:
extra dividend of 25 cents per
an
$13,100
19,510
$13,156
35,718
1935
(G.) Heileman Brewing Co.—Extra Dividend—
The directors
.
—
y
no par
$16,937
5,746
Cr.3,999
2,090
5,395
Cr.4,085
2,055
-—
---
Class A stock dividends
reserve for depreciation of $1,593,642 in 1935 and $1,522,558 in
Notes payable deferredi and interest,
x Represented by 20,000
shares.—V. 141, p. 1275.
}??4inc
861,889
531,280
Provision for Federal income tax
After
x
1934.
—
$1,410,106
914,524
550,763
Operating profit
Other deductions
Other income
8"oo"666
$2,832,772 $2,733,343
Total
l£?5Qnn
_
sold
----Store, general and administrative expenses—
456" 500
1936
$1,481,809
mm
Cost of goods
516,500
1st mtge. 6^s
10,
Earnings—
Co., Saginaw, Mich.
Calendar Years—
Sales
700
866
Prov.for Fed.taxes
2,003,728
33,476
1,866
Oct.
Chronicle
taxes plus
interest
2,798,919
accr.
*
Acer. cap. stk. tax
Hawaiian unempl.
relief tflx
Capital stock-—
Surplus
x
383
326
5,000,000
201,568
5,000,000
268,796
t
Total
—V.
—17,847,343 17,974,757
141, p. 115.
Total
..17,847,343 17,974,757
Total
x
$5,420,690 $5,474,157
Represented by shares of $20 par.
Total
-V. 141. p. 753.
$5,420,690 $5,474,157
Volume
HudsonJBay;MiningJ& Smelting Co., Ltd. (& Subs.)
Horder's, Inc. (& Subs.)- -EarningsYears Ended Jan. 31—
Earns, for Cal.
1936
$231,912
55,089
24,553
$152,269
income.
Net income
__
Dividends paid.
per share
49,975
C
•_
'
74.453
Earnings
stock.
on common
other sales &
-
'
'
'
-
-
'
$1.22
$1.08
Notes and accts.
Divs.
receivable
Other
Int.
1st
62,761
Empl's' receivables
2,711
3,918
10,707
5,129
6,250
Def. real est. taxes
_
mtge.
1st mtge.
1,032,064
500,000
500,000
e
$2,415,179 $2,414,933
allowance
d63,063
2,450
8,147
209,375
2,650
6,942
215,625
i,5oo"oo6
46,816
1,500,000
f373,366
5^%...
1,052,565 6% serial notes
Common stock.
Surplus
Total
for losses
47~868
Amount payable to
ma-
chin'y & equip..
Goodwill
After
_
earned...
442,851
Total
20,574
361,110
18,165
100,000
1,865,829
1,678",949
and expense
489,901
See x
See
x
18,147
$780,524 loss$298,955
$1,549,612
$3,215,186
2,757,973
Dividends paid
—---
-
$1,060,621 in 1935 and $1,713,715 in 1934.
In terms of Canadian currency,
z In terms of United States currency.
Includes depreciation of
x
y
(In terms of Canadian currency)
Accrued interest receivable..
a
b Fixed assets
Deferred charges
Total
Accrued payroll
Miscell. accrued liabilities
3,540,391
38,180
1,239,246
23,845,083
3,500,583
(sundry)
Inventories
1934
1935
$98,474
39,955
$129,882
35,456
$138,429
20,023
21,121
$165,338
29,901
20,310
$97,285
Surplus
30,984,205
2,325,351
Total
$34,571,871
c
$34,571,871
Capital stock.
b After reserve for depreciation of $7,568,Represented by 2,757,973 no par shares.—V. 142, p. 3511.
c
Hunts, LtdL- -Earnings—
Years Ended-
Dec.
Net profit
Prov. for depreciation..
x
29 *35 Dec. 30 *34 Dec. 31 *33 Dec. 31 *32
$46,183
$39,230
$33,090
$12,556
50,461
50,478
50,358
52,561
203
"9,330
"9",330
7,502
7,502
Class B dividends
Loss
$106,109
20,521
16,500
fixtures in closed
9,018
Consolidated net income for year
$87,295
reserve for difference between cost and
market or estimated value of securities owned.29,024
72,165
650,000
Prov. for taxes & conting...
At refinery or in transit,
a
384.
$115,127
9,989
$398,438
29,939
111,771
Contracts payable
6,577
Metals
Accounts receivable
Accounts payable
$2,105,508
296,301
Dom. of Canada bonds
Add'l Fed. income taxes,
Class A dividends
(A. C.) Horn Co. (& Subs.)—Earnings—
Calendar Years—
Liabilities—
Assets—
Cash
1936 and
$19,056 in 1935For redemption of 6% serial notes.
Cash on deposit
with
trustee,
c After allowance for depreciation and amortization of
$287,349 in 1936 and
$261,652 in 1935.
d For purchase and(or) redemption of 6% serial notes,
less $24,120 notes and accrued interest in treasury which may be applied
in payment,
e Represented by 125.000 no par shares,
f Less treasury
stock, 1,821 shares, at stated value of $14,568.—V. 143, p. 2211.
Net operating
299.936
Prov. for taxes & conting
$2,415,179 S2,414,933
of $17,728 in
b
x
966,814
$4,439,854
2,856,948
0144,764
329,529
Depreciation
install.,
current
ac¬
counts receivable
a
1,059,441
$6,363,005
3,311,703
013,152
Consolidated Balance Sheet Dec. 31, 1935
sinking fund....
Def. ground rent..
10,497
bds. & bk. loans.
Federal
Life ins. policies..
Deferred charges.
cLand.bldgs.,
1,025,774
$7,502,145
x5,366,803
043,747
244,840
2,954
5,674
revenue
on
24,553
6,250
for
income tax
b5,625
7,565
43,924
&
1,278,208
Current debenture exps.
Amort, of debt discount
$127,801
14,990
payable
Prov.
471
Sinking fund
$161,474
18,750
50,891
Accr'd liabilities..
233,657
347,170
268,330
401,800
Inventories
Investments
1935
1936
Accounts payable.
$214,906
$5,406,668
$9,175,457
x5,381,506
Crl7,716
96,871
4,033
Net profit.
Liabilities—
1935
1936
$126,308
zl932
$7,422,447
delivery
Balance
Cost of sales
Consolidated Balance Sheet Jan. 31
Assets—
Cash..
Other notes
yl935
$10,453,665
Freight, refining and all
^expenses
Provision for Federal income tax.
a
Years—
Sales of metals
772.301
An¬
Other deductions.
zl933
yl934
$8,527,919
$181,937
$135,040
____
$2,589,921
1,635,683
$217,108
69,641
12,426
expenses
1935
$2,839,518
1,852,432
819,442
$167,643
49,464
Warehouse, selling & administrative
other
2373
Financial Chronicle
143
profit
Other income
Gross income
Other deductions from income
Provision for Federal income tax
Consolidated net income before minority ints
Minority ints. in subs, with respect to net income
of such companies
on
1,550
stores
$40,005
71,316
year.
Previous surplus..
Adjustments, &c_.
Balance
x
Before
depreciation.
$35,650
106,967
$28,080
135,047
$41,502
172,691
yCr3,858
$31,311
Deficit for
$71,316
$106,967
$135,047
Surplus from sale of securities.
y
Balance Sheet
Miscellaneous
7,856
10,218
Dr3,304
149,677
262,699
$25,501
$149,677
(credits directly to deficit
Cash
a
Previous deficit
...
...
16,829
44,186
10,302
10,000
40,318
557,810
$694,509
$722,778
Inventory
„
After
manufacturing costs and all distribution,
general expenses, including depreciation.
x
administrative
and
Assets—
1935
Cash
$104,377
Marketable
Accts.
289,568
d Capital stock...
49^
Equity
in
pleted
Other
664
450,662
bAccrued int.
400,861
rec.
Inventories
26,281
Accrued
10,883
3,400
3,279
19,771
20,310
and notes rec'le.
3,425
17,333
21,121
125,021
15,597
8,426
Other investments
34,471
9,380
715,886
32,165
11,076
704,361
Llfe Insurance
rec
eq.
Patents & goodwill
1
Reserves
fMinority interests
663,920
25,501
Capital surplus...
42,466
Deficit...
149,677
Prepaid expenses &
charges
Total
Less
a
for
reserve
doubtful
$1,920,493 $1,785,955
Total
items,
b Including
dividends
Huron & Erie
6% non-cumulative stock, $30 par, $507,120, and common
stock, $1 par, $99,900.
h Represented as follows: 1st preferred 7% cumu¬
lative stock, $50 par, $780,050; 2d preferred 6% cumulative stock, $50 par,
$845,300, and common stock, no par, 99,900 shares at $162,780.—V. 141,
p. 439.
.
'
Gross income...
Operating
expenses
Admin. & gen. expensesReserve for taxes..
$1,269,275
720,089
...
64,978
15,000
13,796
b
119,109
132,750
135,705
115,334
96,993
Dividends paid
96,351
103,240
$446,432
500,000
$155,277
11,473
56,000
325,000
7,766
25,000
400,000
$2,703
$3,881
122,548
118,669
$28,334
90,335
$4,725
—85,610
$125,251
$122,549
$118,669
$90,335
Balance
Balance, surplus
x
debentures and deposits, deducting expenses
and other expenses, and making provision for actual losses.
After paying interest on
of management
Balance Sheet Year Ended Dec. 31
a
2,031,500
477,765
2,000,000
Real estate
^774,876
b Mtges and agree-
Liabilities—
S
S,
Office premises—
,
Canadian
$
$
26,905,683 27,630,958
2,268,085 2,305,558
debs
Sterling debs
d Sterling deb. stk.
^
35,060,895 36,025,172
c Securities
6,163,727
5,856,847
Canada Trust Co.
ments
1,558,080
617,371
1,558,080
459,766
Cash
1934
1935
1934
1935
213,749
214,430
376,232
9,231,464
419,524
9,053,095
15,000
5,000,000
1,500,000
Dividend payable.
75,000
Profit and loss
125,251
52,500
5,000,000
2,000,000
75,000
122,548
(4% perpetual).
Deb. int. accrued.
Deposits
Provision for taxes
Capital stock
Reserve fund
45,710,465 46,873,615
Held
for
b For
sale,
sale,
c
45,710,465 46,873,615
Total..
Including
accrued
interest,
d 4%
perpetual.—Y. 142, p. 1644.
Of which $1,319,764 was recovery from ore
in 1935; $1,594,222 in 1934,
bAt rate of 20 cents, a ton in 1935 and 1934;
Assets—
1935
a ton
Rec'le for bullion
Accts. & int.
Dom.
df
$224,423
89,134
9,071
7,543
rec__
&
Accounts
The
bonds
10,000
10,000
b
Bldgs., mach'y &
equipment, &c_.
Inventory
1935
$39,891
payable
d Capital
683,374
278,732
1934
wages
Reserve for taxes.
Surplus
27,000
9,697
$50,795
45,000
.
5,000,000
5,oob",000
25,649
stock
271,661
15,935
nancing chgs.,&c
Deferred charges.,
to
10,062
Total
and
en
$5,160,1621
Total
b After reserve
route,
in 1935 and $548,439 in 1934.
c
>
$5,102,238 $5,160,162
for depreciation of $684,144
Including discount less premium on shares,
143, p. 113.
d Represented by shares of $1 par.—Y.
Federal income tax
3,272,689
3,273,458
profits
Cost, of prod.,dep.& depl
Other expenses, &c
properties and li¬
$5,102,238
dividend of $1
per
share on account of
payable Oct. 15
$17.50 per share.—V. 143, p. 274.
Sundry other profits
368,655
18,093
8,276
-
a
A like payment was made in each of the seven
preceding quarters and compares with 75 cents per share paid each quarter
from July 15, 1932, to Oct. 15, 1934, incl.; $1 per share on Jan. 15 and
April 15, 1932, and regular quarterly dividends of $1.75 per share previously,
Accruals on the preferred stock after the Oct. 15 payment will amount
Calendar Years—
claims,
On hand
Oct. 9.
Gross profits.
Prepaid insurance-
Total
to holders of record
Hutchinson Sugar Plantation
808,613
349,420
operating and fi¬
censes
declared
64,366
Develo pments, pre-
Mining
directors have
accumulations on the $7 cum. pref. stock, no par value,
Unclaimed divs...
Canada
Corp.—Accumulated Dividend—
Hutchins Investing
in 1932.
Liabilities—
1934
$489,739
63,518
Cash
a
12,125
56,052
300,000
other
taxes,
real estate
Total
$53,568 sur$155,277 sur$142,529
$38,718
.
Balance Sheet Dec. 31
c
12,738
31,500
300,000
/59,969
128,431
$142,529
and $1,158,470 in 1933.
30 cents a ton in 1933 and 60 cents
a
1932
$525,891
Previous surplus
a
a
1933
$475,701
54,894
197,549
$211,282
250,000
Net profit
Deficit
on
stock
Deprec'n,
bldg., plant,
equipment
Develop, and pre-operating expenses
1934
$441,987
69,929
Writ, off office premises.
Dividends
Assets—
1932
1933
a$l,328,119 a$l,601,579 a$l,161,424
718,199
769,486
812,473
52,582
75,180
70,318
13,017
39,472
43,253
Interest paid
1936
$377,896
30,955
Provinces of Can. taxes./
Howey Gold Mines, Ltd.—Earnings—
1934
de¬
Mortgage Corp., London, Ont.—Earns.
Years Ended Dec. 31—
Profit for the year
Dom. of Canada taxes._ 1
x
2d preferred
1935
At
receivable,
c Not
current, at estimated realizable values,
d Billed in advance,
e For
repairs and contingencies on completed contracts.
f Withr Tespect 4;cr~
capital stock and surplus of subsidiary companies,
g Represented
as
foflows: Prior preference 7% non-cumulative stock, $0 par, $394,440;
Calendar Years—
c
adjourned stockholders meeting scheduled for Oct. 7 was postponed
7 pending further efforts of the management to raise additional
capital.—V. 143, p. 2054.
than
$1,920,493 $1,785,9551
value,
surrender
Hupp Motor Car Corp.—Meeting Again Adjourned—
The
Municipal
-
deferred
b Cash
debts,
bad
for
reserve
to Nov.
9,797
10,935
10,210
gl,001,460 hi,788,130
Capital stock
1
51,493
10,857
12,958
20,199
tracts
e
Less
a
working
dUncompleted con¬
1,623
138,079
Mtges. receivable-
$722,778
$694,509
Total
4,550
3,813
expenses.
31,311
preciated value,
d Represented by 18,656 shares of class A stock, no par,
and 15,000 shares of class B stock, no par.—V. 141, p. 115.
credit
Fed'l income tax..
notes
Prop., plant &
10,385
balances
contracts
cNotes& accts.
$~58~263
10,393
equipment
Customers'
uncom¬
curr.
Total
80,537
pay-
608,337
1934
Deposits on leased
252,123
...
Capital assets...
$100,000
payable
Commissions
from customers.
1935
Notes payable
$130,028
66,256
80,849
securs.
aNotes & accts rec.
Investment
Goodwill
Liabilities—
1934
b Life insurance..
$38,917
4,208
608,337
71,316
Dividend payable.
Surplus
expenses
c
Consolidated Balance Sheet, Dec. 31
$54,860
accrued expenses
Supplies & prepaid
Net deficit, Dec. 31
.30 '34
1
acct...
recelva'le
Accts.
Dec. 29 '35 D
8,268
9,000
38,162
589,833
1
sav.
Accts. payable and
56,634
25,802
9,816
35,262
$15,062
....
Spec.
Liabilities—
Dec. 29 '35 Dec. 30 '34
Assets—
Decrease in
Net income
Dividends paid
1935
Co.—Earnings-
1934
1933
1932
x$995,652
y250,046
$818,328
76,128
$984,073
55,636
$955,463
54,582
$1,245,698
854,979
59,895
$1,039,709
851,060
56,808
18,076
$1,010,045
964,469
66,295
47,924
$894,456
769,738
44,194
11,145
$282,900
120,000
$69,379
90,000
$113,765
60,000
loss$20,718
45,000
x After processing tax paid of $116.
y Including amount received from
Secretary of Agriculture, net, of $180,791.
Financial
2374
Chronicle
Oct.
10,
1936
Comparative Balance Sheet Sept. 30
Assets—
Indianapolis Railways
Gen.
Due from brokers.
1967
due
5s
1936
Divs.
1935
§40,677
Cash
§10,802
66,500
receivable..
25,895
24,187
A
1st
5s
TRADING
Corp.
DEPARTMENT
T.
&
§6,426,305 $6,258,221
Y.
Teletype N.
1-752
Assets—
1935
1934
$41,350
3,548
§40,067
76,217
126,748
57,145
53,916
51,615
Cash
70,875
Sales In susp
Advances..
Store accounts
Inventories
Accrued interest..
Growing
Land, bldgs. & eq.
Sundry creditors.
Fed. income tax..
"""366
1,921,469
1,894,509
18,095
8,583
19,236
11,145
2,273
3,104
14,686
550,000
1,500,000
761,041
4.200
20,584
2.201
Territ. income tax.
excise tax.
indebted
Bond
1,500*,000
Capital stock
Surplus
a
a
.§2,542,990 §2,886,8171
$17,118
12,000
10,310
24",885
951,380
p; CGI 0OI
■9', 086
$69,781
65,000
(65c.)
Dr44,366
$56,549
50,000
(50c.)
loss$7,767
57,500
(57 He.)
$55,508
325,838
def$39,585
365,423
$6,550
358,873
def$65,267
424,140
$381,347
Net profit
Divs .paid or provided for
Rate
Security transactions
$325,838
$365,423
$358,873
Surplus
§2,542,990 §2,886,817
Total..
Represented by shares of §15 par.—Y. 141,
$78,859
$83,393
80,000
(80c.)
Cr52,115
Expenses
Previous balance Dec. 31
Total
$78,868
deposit in closed bank
Total income
47~ 924
Territ.
$87,179
loss70,061
Res. for possible loss on
7,331
li~833
_
Est. market chgs.
158,948
388,307
Deferred items
§18,000
Honolulu
on
1933
$60,863
17,996
Profit from sale of securs.
§4,867
Drafts
1934
$78,868
$93,741
1934
1935
1932
1935
and
divs.
Co.,
Fed.cap.stk. tax.
300
crops
Brewer &
Ltd
51,206
61,542
32,596
372,334
Investments
•
$93,741
from
interest
Liabilities—
C.
132
Mtge. receivable..
■
Inc.—Earnings—
Calendar Years—
Income
Accts. receivable..
§6,426,305 $6,258,221
Total
p. 2211.
Balance Sheet Dec. 31
*
4,513,523
671,368
Represented by shares having a par value of $1.
y After reserve for
shrinkage of $1,335,967.
z After depreciation on cost of $601,621.—V. 143,
3,
T.
20,000
850,000
_
New York
15 Broad Street
A.
~1~937
850",000
Common stock.
x
YORK STOCK EXCHANGE
NEW
93,500
25,781
payable
Res. for conting..
Total
MEMBERS
394
Accrued expenses.
Due to brokers
x
Eastman, Dillon & Co.
,
§200,000
1,392
8190,000
4,567,971
Surplus paid in
698,659
Surplus earned—
z6,294,941 y6,221,524
value)
1957
due
bks.,
pay.,
see'd by collat..
Divs.
Investm'ts (market
Traction Terminal
1935
1936
Liabilities—
Notes
......
Surplus, Dec. 31
116.
p.
Balance Sheet Dec. 31
Huttig Sash & Door Co.—Registers with SEC—
See list given on
Cash
$89,918
Earnings for 6 Months Ended June 30, 1936
Net inc. after .expenses, taxes, int. &
per share on
other deductions...
97,602 common shares
Consolidated Balance
Advances, &c
Miscellaneous assets
Investments
c
Fixed assets
x
e
121,911
140,000
Improvement taxes & accr.
interest
11,600
885,800
1,333,000
89,918
7% cumul. pref. stock.
e
Common stock
Profit
24,689
8,074
Total.
a
Total
Notes payable
1,024,202
d Treasury stock
Deferred charges
§2,582,231
Less
provision for credit
consigned merchandise,
\
Total
§2,582,231
losses, freight
allowances, &c. of $35,942.
d Represented by 2,398
shares of common,
e In
litigation,
f Represented by 100,000 shares
no par value—equity Jan. 1, 1935—after
deducting a deficit of $378,113.
—V. 143, p. 1559.
b On
1,283^501
$975
c
Less
reserves,
Common stock..
20,000
Surplus
16,179
$1,382,322 §1,349,944
§1,382,322 $1,349,944
Total....
Represented by 100,000 (no par) shares.—V. 142, p. 1988.
Interborough
Illinois Bell
Telephone Co.—Earnings—
Period End. Aug. 31—
Operating
revenues
Uncollectible oper. rev..
Operating expenses
Operating taxes
....
1936—Month—1935
1936—8 Mos —1935
$6,657,516
$6,164,153 $53,462,782 $49,565,079
16,339
16,741
130,514
72,365
4,547,272
4,465,516
35,914,985
36,069,834
1,131,133
470,457
8,513,690
5,477,458
$962,772
$1,211,439
$8,903,593
Transit
Co.—Wage
International Paper Co.—Collateral Released—
New
York Stock
Exchange has received notice from the Bankers
Trust Co., as trustee under the first and refunding mortgage dated Jan. 1, •
1917, that on Sept. 23, 1936, it released 2,392 shares of the common capital
stock of Champion International Co., par value $100, against payment of
$239,200.
The Bankers Trust Co. further advised that the proceeds are
being held by it as trustee pursuant to the terms of the first and refunding
mortgage.—V. 142, p. 4181.
International Products Corp.—Earnings—
•
6 Months Ended June 30less discounts
Gross sales
1935
1936
$822,957
443,081
$391,037
15,295
$409,982
6,622
44,727
64,220
$406,332
2,895
60,640
49,127
1,042
i.,454
$294,414
3,517
$291,171
3.712
$297,931
124,182
24,900
$294,883
152,852
$148,848
202,644
sold
$1,211,868
820,830
$379,875
30,107
a
$119,806
$7,945,422
-V. 143; p. 1722.
Other
Illinois Central RR.—Abandonment—
operating income.
The Interstate Commerce
Commission on Sept. 18 issued a certificate
permitting the abandonment by the company of part of a branch line of
extending from Hedrick to West Lebanon, approximately 6 miles,
all In Warren County, Ind.—-V.
143, p. 2211.
railroad
lmco
Increase
Requests of company's workers for a restoration of wage cuts, increase
of pay, reduction in working hours, vacations with pay and
recognition of the Transport Workers Lodge as sole bargaining agency for
the employees, have been refused by Thomas E. Murray, receiver of the
company.
w
In a letter to employees, Mr. Murray declared that the financial condi¬
tion of the receivership property will not justify at present any change
in wages or working hours.
The burden of increased taxes, including city
unemployment levy, old age pension act and city sales tax, has been im¬
posed since the making of company's last working agreement, he states,
and, until there is a substantial decrease in these taxes, or a reduction of
operating costs or increase in passenger revenues, the company will be
unable to consider any increase in wages.—V. 143, p. 2211.
Cost of goods
Net operating income.
Rapid
in present rate
The
The New York Curb Exchange has removed from unlisted trading privi¬
leges the refunding and improvement mortgage 5% gold bonds, due Oct. 1,
1951—V. 135, p. 1162.
Participating Co., Ltd.—Offer Expires Nov. 4.—
Taxes
(other than income taxes)
Selling expenses
General and administrative expenses.
Expenses of packing house
while idle.
Provision for doubtful accounts
company gives notice that the offer made by prospectus dated
T
July 8, 1936 and issued July 21, 1936 will terminate
on
Nov. 4, 1936.
letter of transmittal, properly executed and certificates
The
for participating
preference stock of International Match Corp., properly endorsed, must be
received by the company in London on or before the latter date..
The option period referred to in the
participating certificates 6f the com¬
pany, issued in pursuance of the acceptance of the above-mentioned offer,
commenced on Aug. 7, 1936 and will terminate on June
30,1938—V. 143,
p. 781..
Industrial Rayon Corp. (&
Subs.)
1936
■
Operating profit..
143,250
Depreciation.'
Experiment expenses, &c:
Prov. for loss
1935
$1,574,113
Other income
on
invest.
$1,717,363
467,484
142,047
_
_
Part of cost of pat. rights
Prov. for doubtful accts.
Loss on sale of govt. sees.
_
„
5,275
-Earnings—
1934
—V.
$1,597,346
x332,801
$1,930,147
$1,917,237
466,061
493,023
—
-
...
Surplus.
Earnings
per
606,500
$1.52
share
190,000
$1,208,524
$1,258,033
$1,208,524
$1,258,033
600,000
$2.01
200,000
$6.29
756.000
Includes $198,787 profit on sale of U. S. Government
securities, and
$40,840 realization of previous write-down of U. S. Government securities
value,
y
Includes $10,594 adjustment of 1934 tax accruals (net),
made for Federal surtax on undistributed profits.—
No provision \was
758.
Insuranshares
1936
$129,630
21,544
1,684
Expenses
Interest expense
Dividends paid
Net profit, excl. of losses
1935
$130,918
17,268
2,151
127,500
on
$112,107
17,614
3,860
85,000
sales of
$106,403
762,387
loss$16,001
687,941
130
572
$5,634
643,701
13,049
Undistrib. oper. income Sept. 30--
$698,659
$671,368
$636,285
12.51c.
13.11c.
10.66c.
per
share
general purposes of the meeting are:
To provide for the retirement of early maturing funded debt and
To take steps to handle the increase in the transportation of bananas
on the Atlantic Coast.
L. Simpson, Chairman, in a letter to stockholders states:
The company plans to retire all of its 6% first mortgage collateral notes
maturing May 1, 1941, of which $2,104,000 was outstanding as of Dec. 31,
1935, and of which approximately $200,000 has recently been acquired
by the company in anticipation of the redemption of that issue.
After trials it has been found practicable to transport bananas from the
Pacific Coast of Guatemala to Puerto Barrios, the company's Atlantic port,
thus, enabling them to reach the markets of Europe and also those of the
eastern, southern and central prats of the United States.
In August, 1936
company carried from the Pacific to the Atlantic side a total of 185,000
stems of bananas—an increase of 125% over August, 1935.
It is estimated
that the transportation of such bananas will steadily and perhaps rapidly
increase.
It is very desirable to encourage this development as the company
will thus enjoy a long railroad haul and a substantial increase in its gross
rpm
the Pacific side of Guatemala to Puerto Barrios
To provide adequately for this new
1934
securities charged to capital surp.
Previous operating surplus
Income debits
Dividends
Earnings
has been called
by the direc¬
•
and net revenues.
Certificates, Inc,-Earnings-
9 Months Ended Sept. 30—
Dividends earned
company
John
x
V. 143, p.
Subsidiary Gets Interest in Road—
meeting of the stockholders of the
(2)
3,143
38,000
190,600
$0.69
United Fruit Vo.
A special
(1)
-»
600,000
y>2,225
for Nov. 4, 1936 to act on certain recommendations proposed
The
11,790
85,000
$923,557 def$340,081
142, p.
preferred stock
4022.
the reduction of the company's fixed charges.
stk. outstand¬
com.
ing (no par)
on
tors.
$415,919
Par
foreign).
International Rys. of Central America-—To Retire Notes
$1,917,237
$1,124,925
485,057
42,762
60,000
17,000
6,506
■
18,000
161.000
Dividends.
to
Total
Depreciation and depletion
1933
891
Interest and discount
Prov. for contingencies.
Federal taxes
1
...
Provision for income taxes (Federal and
Dividends
$1,057,788
y67,137
,
Shs.
Profit
Other income
Net income..
9 Mos. End. Sept. 30—
.
1,000,000
325,838
Denied—
Hydraulic Power Co. of Niagara Falls—Removed from
Unlisted Trading—
z
800
1,000,000
381,347
Dividends payable
x
6,373
$3,305
...—
taxes
$0.14
Accounts payable & accruals
§114,594
416,791
615,180
17,092
35,110
326,495
Accounts and notes receiv.
Inventories
b
Accounts payable.
Accrued
1934
1935
Liabilities—
$43,892
Liabilities—
Cash
a
$4,631
Sheet, Dec. 31, 1935
Assets—
1934
deposit..
§10,332
18,740
Market, securities 1,330,138
Deposit in closed
bank.
4,076
Accrued dividends
19,035
on
Accts. receivable-_
/
Consolidated net profit after taxes and depreciation
Earnings
1935
Assets—
first page of this department.
Earnings for Year Ended Dec. 31, 1935
170,000
business it has become imperative
rolling stock, both locomotives and banana cars, and with
new business it has become necessary to improve a con¬
siderable mileage of the company's main lines by replacing present stretches
of lighter rails with heavier ones.
The company does not desire to make
the capital investment (estimated for immediate needs to be approximately
$650,000) necessary to acquire the said rolling stock both because of the
cash outlay involved and also because of its reluctance to purchase such a
large amount of special rolling stock suitable and needed only for a particular
kind of traffic.
Such an investment would become a heavy burden in
case the banana production on
the Pacific side should unexpectedly be
affected by floods, diseases or changes in the industry.
If, as the present
program provides, the company can be relieved of the capital expenditure
for this rolling stock, it will be in a better position to effect the required
to increase the
or
without
this
improvements on its main lines.
Volume
Financial
143
against the contingency
of the construction of competing ports, one on the Atlantic and one on the
Pacific side, under existing concessions granted by the Government of
Guatemala.
Construction under either concession is not presently ex¬
pected as the concessions are now in the hands of owners friendly to the
company.
Nevertheless, it is greatly in the interests of company that
future construction of either port should be undertaken only in agreement
Directors likewise desire to protect the company
it.
with
of
a
agreements .,r The fixed compensation payable to Mr. Levy and Mr. Szold
is to be $2,000 per annum less than that paid under the advisory agreement
now terminated, so that, with the addition of Mr.
Stillman, total fixed
compensation is increased $4,000 a
contract with the Compania Agricola de Guatemala
(called the "Guate¬
Co."), which has contracts with independent producers and itself
owns very large areas of land on the Pacific side of Guatemala suitable
for banana production as well as the above-mentioned concession to build
a port on the Pacific side.
The Guatemala company is a subsidiary and
tration—
The New York Curb Exchange
the
mala
affiliate
Fruit Co.
of United
Under this contract company will receive:
(a) The sum of $2,165,000 in cash to be used to retire certain early
maturing funded debt of the company and reduce fixed charges and for
other
purposes,
company
The agreement of the Guatemala company to purchase 10 new loco¬
and 300 banana cars, built according to specifications approved
by company, which will be used and operated by company, primarily in
the transportation of bananas from the Pacific side to Puerto Barrios, on
terms which are satisfactory to company,
(c) Protection for a period of 20 years against the construction under the
above-mentioned concessions of either the Atlantic or the Pacific port.
(b)
motives
The right to obtain, on favorable terms, road ballast from Las Quebradas mines, a source of supply which is unique in the two countries
served by company.
The agreements of company with the Guatemala company and United
(d)
Fruit
Co., as already agreed upon and as supplemented by the abovementioned contract, are satisfactory to company and the Guatemala com¬
in that contract agrees for itself (and to obtain the agreement of its
affiliates) that no change shall be made in these agreements and that no
new contracts shall be entered into between company and the Guatemala
company, or any of its affiliates, without the approval of a majority of
the directors of company, other than any directors who may represent,
or have been nominated in the interest of, the Guatemala company or its
pany
stock authorized but not issued (or, at the option of the
voting trust certificates representing such stock).
The notes
to prior payment by the company in whole or in part at
anytime at par and accrued interest, and will be secured by first lien and
refunding mortgage bonds issued or to be issued under the indenture
securing the same, not exceeding in principal amount the 5% first mortgage
60-year sinking fund bonds of 1972 now held as security for the 6% first
mortgage collateral notes to be retired.
The 5% first mortgage bonds will
be deposited as security under the first lien and refunding mortgage as
required thereby.
If this contract becomes effective company will be free of any debt ma¬
turity until 1947 with the exception of a small issue of serial notes maturing
in the amount of $160,000 annually over the next four years; it will effect
an annual interest saving of approximately $50,000; it will be in a
position
to retain and develop banana transportation with a minimum of risk and
financial outlay, and it will be assured for a 20-year period that certain
competing port concessions will only be exercised with the approval of
company.
For these and the other reasons stated above the contract
has been approved and is recommended by directors and byjcertain of the
large stockholders company with whom it (has been informally discussed,
and the board submits these arrangements for consideration of the stockcommon
company,
be subject
holders^at the^meeting called as stated in the enclosed notice and proxy.
International
Utilities
International Vitamin Corp.—Earnings—
Month of September—
1936
Net income after deprec.,
1935
amortiz., Federal & State
income taxes, &c.
Earns, per share on 203,000 shs. cap. stock
—V. 143. p.1561.
■
-
a regular quarterly dividend of 30_cents
payable Oct. 16 to holders of record Oct. 9
per share on the $6 cum. and
participating preferred stock, series A, no par value, payable Dec. 1 to
$14,700
dividend of $1.50
holders of record Nov. 10.
Arrived at
on
$13,693
^16,635
130,768
114,133
$22,018
92,115
$144,461
$130,768
$114,133
$148,707
as
~
1933
1932
Operating loss, $303; executive salaries, $2.70 •
follows^
loan, $3,672. giving loss for years of $4,246.
mortgage
Liabilities—
1934
1935
1935
1934
$15,331
12,115
24,640
2,531
Inventories
Prepaid
charges..
Investments..
365
59
56,500
56,500
Pref. stock class A
147,900
Pref. stock class B
13,455
31,956
2.3S4
3,163
_
Accts. pay. & accr,
3,163
S9.852
Aqcts. receivable.
300,300
250,000
148,707
219,393
147,900
300,300
250,000
144,461
219,393
$399,831
$396,493
property
(Totonto)
1,200
1,507
bldgs.,
mach. & equip.
charges
$12,867
Sales tax
Mortgage loan
y
Common stock.
Deficit
est.,
337,512
337,512
$399,831
$396,493
z
Capital deficit..
$5,588
Net
Total
values,
y Represented
by 10,000 no par
Resulting from revaluation of fixed assets.—V. 141, p. 1439.
depreciated
Interstate Department
Month of—
February
April.
May
1,661,644
2,022.251
2,074,793
June
2,118.996
July
August
September
1,669.939
•
_
shares,
Stores, Inc.- —Sales—
1936
$1,244,602
March.
*
Month
1935
$8,488,424
8,975,051
1936
$8,597,317
9,570,689
of—
January.
February
.
,
1933
$7,706,388
8,053,868
1934
$8,824,821
8,797,055
March
10,043,390
10.328.161
12,320,725
8,491,512
April...
May
12.011,258
11,925,061
11,518,500
10.871,686
10.146,128
11,680,348
10,228,412
9,941,023
11,048,088
11,522,566
10.304,867
10,004,027
9,471,998
9,406,816
10,758,118
10,252,468
9,920,933
11,752,862
10,147,936
10,413,911
10,634,773
On Sept. 30, 1936, the company had 728 stores in operation, including
680 in the United States and 48 in Canada, against 690 American stores
and 47 Canadian stores at the end of September, 1935.—V. 143, p. 1723.
June
12,182,365
July
11,169,274
11,352,956
August....
September
1,792,395
1,840,352
_
1935
1934
$1,101,383
1,586,462
1,832.804
1,759,907
1,716,952
1,206,135
1,442,624
1,446,082
$1,113,812
1.833,160
1933
1.742.081
1,805,544
$902,342
1.125,924
1,560,191
1,527,853
1,768,762
1,113,364
1,655,310
1.203,260
1,391,93#®
1,541,193
1,392,659
1,476,858
Compensation Contracts—
The company
on
1?33
$3,912,983
3,895.802
1936
$5,204,273
5,459,343
1935
$4,761,726
4,968,306
1934
$5,106,517
5,083,475
March
6,314,178
5,472.265
6,330,794
4,086,768
April
May
6,872,971
6,552,143
6.441,416
5,934,386
5,732,389
6,095,747
4,766.042
4,978,301
June
7,027.089
5,700,379
5.757.198
4.830.253
6,524,725
6,652,396
6,784,535
5,883,589
5,946.257
6,137,927
5,335,936
5.574,040
5,684,751
4,928,805
5,415.829
5,405,554
Month
V"
of—.
January...
February
July
—-
August
September
Dividends
_
New Common Stock—
dividend of 25 cents per share
on
The directors on Oct. 9 declared an extra
and
initial quarterly dividend of like amount on
of common shares now outstanding, both
an
amount
the new and larger
2 to
two-for-one
payable Nov.
The stock was recently split on a
holders of record Oct. 20.
loasis
Dividends paid on the common
•
stock before the two-for-one
split follow;
1 last; regular quarterly divi¬
1927, to and including May 1,
1936; extra dividends of 50 cents payable in special 6% preferred stock,
par $10, paid each May and November from 1931 to May 1, 1936, incl.,
in August and November of 1930, and in November of 1929, 1928 and
1927; extra cash dividends of $1 per share paid on Dec. 10, 1935, and an
extra cash dividend of 50 cents per share paid on Dec. 20, 1934.—V. 143,
50 cents regular and 50 cents extra on Aug.
dends of 25 cents per share paid from Feb. 1,
p.
1723.
(Textile) Industries—Bank Proposal Opposed
Federal Court
and Hayden,
of the capital
Oct. 5 opposed a reorganization plan in
Philadelphia proposed by the Manufacturers Trust Co.
Stone & Co., New York, who claim holdings of a majority
The company on
in
The plan also involves a subsidiary company, the Bendleton Manufac¬
turing Co., La France, S. C.
The proposed plan would oust the present officers and directors and
place the company control under the two banking concerns, which offered
$288,000 in unsecured creditors' claims from a $350,000 loan they
to the corporation.
Mortgage bondholders would be re¬
to pay
make
would
quired to waive $186,000 in sinking fund payment defaults.
Judge William H. Kirkpatrick held the question under consideration,
as well as a proposal that he appoint a trustee pending the final outcome
of the plan.—V. 143, p. 2213.
Inc.—Sales—
1.395,583
1,210,170
1,386,739
1,333,354
1.339,061
1,249.286
June
1,326,776
1,197,321
1,248,414
1,171,096
July.
August
931,930
942,031
1,106,372
798.643
939.231
1,060,977
729.939
943,869
1,023,996
712,608
920.244
945,679
of—
.
I
.
September
—V .143, p. 1723
1936
$902,131
831,043
1935
$906,500
727,534
will submit to stockholders for ratification at their annual
26 compensation contracts with three members of its
Oct.
executive committee to replace previous agreements with representatives
of Lehman Brothers.
The contracts are dated Feb. 1 last, according to the
company's notice to the New York Stock Exchange.
The company proposes to pay $8,0'>0 a year and 1H% of its net profits
to Harold J. Szold, Chairman of the Executive Committee; $10,000 a year
and
i-
—V.
140,
2011.
p.
Lee Tire & Rubber
July 31—
Period End.
Sales
—V.
Corp.—Sales—
1936—3 Mos —1935
$3,119,938
$2,100,153
1936—9 Mos.—1935
$7,220,366
$5,805,647
142, p. 3681.
Dividend-i-
50 cents per share in
of 25 cents per share on the
common stock, par $25, both payable Nov. 2 to holders of record Oct. 14.
The company paid a quarterly dividend of 25 cents per share on Aug. 1,
last, this latter being the first payment made on the $25 par stock, the
last previous distribution on the common stock was the 25 cent dividend
paid on May 1, 1931 on the $50 par stock.—V. 143, p. 432.
The directors have declared
addition
the regular
to
Lerner Stores
—
February
March--
extra dividend of
Corp.—Sales—
Month of—
January..
an
quarterly dividend
-
1935
$1,789,622
1,837,678
1936
$1,862,543
2.048,109
1934
$1,581,368
1,587,856
2,604,126
July
August
-
September-.---—Y. 143, p. 2057.
2,524,854
2,924,828
2,560,030
3,203,961
2,503,511
2,620,192
-
2,584,812
2,902.327
2.707.333
3,509,487
------
2,371,983
3,361,115
3.250,000
April
2,582,757
2,186,165
2,336,098
2,011.102
1,886,996
2,128,598
2.225.702
1936
30—
profit
$291,309'
management for several years.
"Under the arrangement outlined,"
Reserve for contingencies
Additional Fed. & State taxes prior years & sundry
profits formerly paid under other
1933
$1,174,761
1,240,948
^
1,391,889
1,949.097
1,899,861
1,915.543
1,693,272
1,655,685
1,731,666
Leslie-California Salt Co.—Earnings—
Year Ended June
New operating
profit for year
Earned surplus, June 30
the company stated, "the aggregate
,
Gas
0.3% of profits to Will I. Levy, Secretary and member of the com¬
mittee, and $6,000 a year and 1% of profits to John Stillman, Vice President
and member of the committee.
Net profits are those remaining after pro¬
vision for preferred stock dividends.
In lieu of cash, Mr. Stillman may take one share of the company's stock
for each $1,000 of profits; Mr. Szold m shares for each $1,000 of profits,
and Mr. Levy 0.3 share for each $1,000 of profits.
Messrs. Levy and
Szold have acted as representatives of Lehman Brothers in the company's
additional compensation payable to management out of profits remains the
same as that pdid in
past years, i. e., 10% of net profits after preferred
dividend requirements.
Provision has been made for the inclusion of Mr.
.
& Electric Co.—Electric Rate Reduced—
In a unanimous decision the Massachusetts State Public Utilities Com¬
mission handed down an order reducing by 2 cents per kwh, the electric
rates charged by this company.
The new schedule, which becomes effective
Nov. 1, will result in saving to consumers estimated at $190,000 annually.
June
Stillman by changes in percentages of
1933
$804,217
670.308
836,810
1.105,926
1.001.076
1934
$952,055
773,387
1.321,870
1,248,454
1.269,158
Month
January..
February
May
meeting
.
.
Lehigh Portland Cement Co.—Extra
Total
z
,
(S. S.) Kresge Co.—Sales—
Lawrence
Balance Sheet Dec. 31
Assets—
Cash
x
„
March
x$4.246
.
Total deficit
R'l
■■■
_
,
,
made on the preferred stock on Sept. 1, last and
with $1.50 regular and 10 cents participating paid on June 1,
last; a participating dividend of 38 cents paid on June 1, 1935 and one of
92 jcents per share distributed on June 1, 1934, in addition to the regular
quarterly dividends.—V. 143, p. 1234.
A similar payment was
compares
May
1934
144,461
Loss for year.
x
declared
have
April
$0 07
1935
Previous deficit
House
directors
Lane Bryant,
$22,500
$0.11
Interprovincial Brick Co., Ltd.—Earnings—
Calendar Years—
x
Co.—Regular Dividends—
Kendall
The
La France
Corp.—Preferred Dividends—
Directors have declared adividend of $1.75 per share on the $7 cum
prior pref. stock (no par vame) and a dividend of 873^ cents per share on
the $3.50 cum. prior pref. series 1931 (no par value), both dividends being
payable Nov. 1 to holders of record Oct. 20.
Dividends of $1.50 and 75
cents per share, respectively, were paid on Aug. 1, May 1 and Feb. 1
last
These dividends compare with payments of $1.25 per share on the $7 prior
pref. and 62 H cents per share on the $3.50 prior pref. made on Nov. 1
1935.
Dividends of 87H cents
per share on the $7 prior pref. and 43\l
cents per share on the $3.50 prior pref. were paid on Aug. 1, 1935
and in
each of the six quarters preceding Aug. 1.
Prior to then regular auarterlv
dividends were distributed.—V. 143, p. 114.
Interest
1403.
(S. H.) Kress & Co.—Sales—
For all of these considerations, the company, under the terms of the
said contract, will deliver to the Guatemala company $1,750,000of a new
issue of 3H% 20-year collateral notes of the company and 185,000 shares
of its
registration
has admitted to listing and
stock, no par.—V. 143, p.
common
per share on the common stock
and the regular quarterly
affiliates.
will
year."—V. 143, p. 2212.
Co.—Admitted to Listing and Regis¬
& Kokenge
Julian
.
With these considerations in mind directors have agreed upon the terms
2375
Chronicle
-
Net
profit.
-
_
-
-
44,541
$202,296
425,381
charges to surplus
Earned surplus June 30
$246,837
42,767
Net
paid
4,770
$288,589
$245,822
Provision for taxes
Dividends
^935
$242,066
ur.2,720
Otherincome.net
-
398,386
Cr.25,000
Dr.34,528
163,128
Z>rl3,870
186,432
$473,547
$425,380
Financial
2376
Chronicle
Balance Sheet June 30
Assets—
Current liabilities.
hand
on
$301,392
155,668
149,764
69,626
$416,733
153,241
145,332
38,025
Accounts recelv
Inventories.
y
Los
1936
Liabilities—
1935
1936
Cash in banks &
Other assets
Reserves
2,000,000
2,000,000
465,239
425,380
Capital surplus—
419,192
473,547
Earned surplus—
98,372
66 2-3% stock int.
Golden
West
Products
Co
96,085
33,079
33,078
2,192,006
2,240,404
33,655
items.
31,713
3,778
Patents
$94,708
2,406
31,589
sales of securities
•
-
•
-
->
•—
$128,703
2,691
3,448
7,936
1,949
Taxes
Miscellaneous expenses
116,520
by
no
income
(incl.
no
divs. from Blue Diamond Corp., Ltd.,
$156,186 during the period and, sub¬
which company earned
sequent to the date of this statement declared and paid a div.
2,659
$3,109,992 $3,099,852
Represented
Net
.'V.1 '
of
Total
par
$112,676
$75,000
Balance Sheet, Aug. 31, 1936
$3,109,992 $3,099,852
shares,
Includes
y
investment
Liabilities—
Assets—
of,
$30,611 in 1936 and in capital stock of non-affiliated company and sundry
investments and receivables of $7,414 in 1936 and $8,404 in 1935.—V. 142,
$499,849
Earned surplus (since Aug.
quotations,
$1,024,936)
1936
$1,030,274
$4.58
1935
$367,607
$1.63
670,590
Invest, in wholly-owned sub.,
Blue Diamond Corp., Ltd..
Total.
—V. 143, p. 1082.
$4,752
1,458,626
1,051,942
-
Paid-in surplus
(valuation
securs.
based upon curr.
Earns, per share on 225,000 capital shares
Capital stock (par $2)
Dividends receivable
(R. G.) Le Tourneau, Inc.—Earnings—
8 iMonths Ended Aug. 31—
Net income after all charges
Federal income taxes
985
Cash
Marketable
3513.
p.
on
Total income
5,025
Fixed assets
x
Profit
Stock transfer
108,577
cos, at cost
Adv. to affil. comp
Total
Income div. from Affiliated Securities Holding Co
Other dividends
Administrative and general office
Stock in other affil.
Deferred
Earnings for 8 Months Ended Aug. 31, 1936
$110,859
-
xCommon stock--
10, 1936
Angeles Industries, Inc.—Earnings—
1935
$144,791
72,463
Oct.
31,
1935)
124,701
Total
$2,640,022
1,468,597
.$2,640,022
—V. 143, p. 2058.
Lexington Foundation Inc.—Registers with SEC—
Louisville & Nashville
See list given on first page of this department.
Lexington Utilities Co.—Preferred Dividend—
The
directors
have
declared
a
dividend
of
$5,623^
per
share
on
the
preferred stock, par $100, payable Nov. 10 to holders of record
Oct. 31.
Dividends of $2.12K per share were paid on Aug. 10, May 11
and Feb. 10, last, and $1.62y2 per share was paid on Nov. 14 and Aug. 10,
1935, prior to wnich the last dividend disbursement on the company's
preferred stock
was
made
on
Dec. 15, 1933.—V. 143,
p.
1236..
17,072 shares of class A
common
stock (no par) at $12.50
share.
Capitalization June 30, 1936—
Authorized
5.000 shs.
a50,000 shs.
7,500 shs.
Pref. stock$3.50 cum. (no par)
Class A comon stock (no par)
Class B
a
common
stock (no par)
Outstanding
b4,067 shs.
common
ex¬
have been sold and subsequently converted
shares which
into class A stock.
The number of pref. shases
As of June 30, 1936 the number of authorized but
issued shares of pref. stock, excluding
was 511.
of the company.
maximum minority of the board of directors.
Management—Company was formed by Central States Finance Corp.
(111.) as a subsidiary for the purpose of engaging in the business of making
small
loans.
Underwriting—Company has from time to time been selling shares of
As of June 16,1936 the company entered into
contract with Floyd D. Cerf Co., Chicago., whereunder the latter is
the class A common stock.
a
authorized to sell
shares of class A common stock at $12.50 per share.
Company has agreed to pay to the selling agent, for sales made by it or
through its efforts, a commission of 15% of the consideration received by
the company for all shares so sold.
Total
income
Operating
—
common
stock, par $5, both payable Nov. 2 to holders of record Oct. 16.
McLellan
Month
of—
Total surplus.
$55,801
43,912
$17,188
$11,505
30
$27,618
$11,505
$12,533
$11,006
~~3~, 268
"552
$8,132
19,748
$9,265
10,483
$10,454
$27,880
-.
Surplus for year
Earned surplus Jan. 1.
Earned surplus Dec. 31
$19,748
$10,483
Lincoln
Petroleum Corp., Ltd.—
solved—Stock
of Petroleum Company
497
28
-Company Legally Disto
Be
Distributed
in
Exchange—•
The Lincoln Petroleum Corporation, Ltd. has been legally dissolved, and
are now ready to distribute its assets to its stockholders on a
the officers
rata basis.
Its assets consist solely of 250,000 shares of the capital
stock of Lincoln Petroleum Co.
As there are 1,000,000 shares outstanding of the Lincoln Petroleum Corp.,
Ltd., each shareholder will be entitled to receive one share of the stock of
Lincoln Petroleum Co. for each four shares held of the stock of Lincoln
Petroleum Corp., Ltd.
The new certificates for shares of Lincoln Petroleum Co. will be issued
surrender of the old certificates of Lincoln Petroleum Corp., Ltd.
properly endorsed.
Delivery thereof should be made to the company at
1106 Subway Terminal Bldg., 417 South Hill St., Los Angeles, Calif.—
V. 142, p. 1992.
upon
Loblaw Groceterias,
Ltd.—Earnings—
4 Weeks Ended—
Period—
Sales
Sept. 19, *36 Sept. 21, '35
16 Weeks Ended
Sept. 19, *36 Sept. 21, '35
$1,319,077
$1,172,944
$5,127,928
$4,500,914
59,469
52,344
211,833
181,131
profit after charges
& income taxes
—V. 143, p. 1886.
Loomis-Sayles Second Fund, Inc.- -Registers with SEC-
1936
$1,094,442
v
March
1,154,648
?VL
1935
$1,056,813
1,068,570
1,312,992
1,346,646
_ML
1,620.954
m
*
April
May
1,775,527
1,539,118
1,542,407
1,797,441
1,585,457
1,742,439
1,738,253
1,711,846
1,489,857
1,724,435
1,524,514
June
%
A
July
August
September
—V. 143, p. 2058.
—.
J
•
:
Mack Trucks, Inc.—New Chairman—
Owing to the death of A. J. Brosseau, President, the Board of Directors
on
Oct. 6 created the office of Chairman of the Board and elected to that
office Charles Hayden, who has long been a member of the Board.
Mr.
Hayden also accepted temporarily the office of President.
International
Motor Co., the principal manufacturing subsidiary, of which Mr. Brosseau
was a
director but not an officer, has as its President, E. C. Fink, and as
its Senior Vice-President, W. R. Edson.—V. 143, p. 2215.
(R. C.) Mahon Co.—Earnings—
Earnings for 6 Months Ended June 30, 1936
Net income after expenses,
depreciation and interest, but be¬
provision for Federal income tax and bonus
—V. 143, p. 433.
fore
$106,507
Manati Sugar
Co.—Reorganization Plan—
The protective committee for the 1st mtge. 20-year 7}$% sinking fund
gold bonds, due 1942, believing that the reorganization of the company is
now feasible, has formulated and adopted a plan of reorganization, dated
Oct. 1,1936.
The plan is believed by the committee to be fair and equitable
to all interests concerned.
The plan has been submitted for approval to the
U. S. District Court for the Southern District of New York, in the pending
receivership proceedings and a hearing thereon has been set for Nov. 6, 1936.
Subject to the Court's approval, the committee will ask later for the de¬
posit of 1st mtge. bonds which have not already been deposited with the
committee and will also ask for the deposit of pref. and common stock, but
pending such approval further deposits will not be requested.
Holders of
securities which have not^previously been deposited will be notified when
their securities may be forwarded for deposit.
The members of the committee
are
John C. Jay, Chairman, Andrew J.
Miller and B. A. Tompkins, with Ben-Fleming Sessel, Secretary, 54 Wall St.,
New York, and Sullivan & Cromwell, counsel.
The depositary is Bankers Trust Co., 16 Wall
St., New York.—
An introductory statement to the plan states in part:
As
-V. 143, p. 1886.
a
industry has occurred
two crops and a reorganization of company now seems
result of higher average prices for the company's sugar
important accomplishment of the receiver, has been the liquidation of the
company's indebtedness secured by lien on crops, pledge of sugars, colonos'
accounts and
other assets which
existed at
the commencement of the
The payment of this indebtedness, to which
a
re¬
large majority
of the 1st mtge. bonds was subordinated in 1931, has removed
any distinc¬
tion existing between the "stamped" and "unstamped" bonds or certificates
of
deposit.
The results of the receivership administration for the fiscal
year ended
Oct. 31, 1935 showed a consolidated profit of $376,079, after payment of
interest on bank loans and miscellaneous interest, but before bond
inteest,
depreciation and certain other charges.
It is estimated by the receiver that
the profit on a similar basis for the current fiscal year will be about
$400,000
valuing unsold sugars at realizable prices at Sept. 23,1936.
These amounts
include profit from operation of Tunas RR. (a wholly owned subsidiary) of
$170,214 and $120,000 for the respective years.
The committee believes that, all factors considered, a reorganization is
not only feasible but highly desirable in the interest of all the
security¬
holders, especially the bondholders who have received no interest on their
investment for a long period.
Accordingly, the plan of reorganization has
been prepared and adopted by the bondholders' committee which was oronds.
ganized in 1931 and which now has on deposit over 68% of the company's
It is contemplated that the same management, which successfully oper¬
prices caused the re¬
ceivership, will be continued.
The plan provides for the organization of a new company to acquire
all,
or the principal, assets and business of Manati and of the
receivership estate.
ated the company until the disastrous decline in sugar
No assessment or charge will be imposed on Manati securityholders as a
condition of participation in the plan.
The financial position of the receiver¬
ship is such that the committee believes it unnecessary to provide any
additional working capital in reorganizing the company.
The properties owned by Manati, or its subsidiaries, to be acquired by the
new company either directly or through acquisition of stocks of
subsidiaries,
consist principally of:
(1) The Manati Sugar Central (mill), which the Cuban Sugar Control
permitted to make 31L538 bags in 1936, but which is estimated by the
receiver to have an operating capacity considerably in excess of that pro¬
duction.
Approximately 214,000
acres of land in Cuba, of which about 18,000
planted in cane.
Sugars and molasses, colonos' accounts, and materials and supplies.
The company's private port in the Bay of Manati, with its own wharf,
warehouses and marine equipment.
(5) The company's private railroad lines (126 niles of narrow gauge and
52 miles of standard gauge trackage), rolling stock, &c.; and
(2)
acres are
See list given on first page of this department.-
Aug. 1, last.—V. 143, p. 928.
A
A-3L
January
February
ceivership.
$27,150
8,794
10,222
Increase in surplus.
Common dividends
Preferred dividends
384
$17,218
4,684
467
on
Co.—Sales—
and careful management during the period of the receivership, there has
been a substantial betterment in the financial condition of Manati.
An
$125,944
105,456
3,300
Total surplus charges.
made
were
Stores
feasible.
$157,059
125,380
4,331
Other surplus credits.
1936—Month—1935
1936—9 Mos.—1935
$3,096,466
$2,626,320 $26,800,693 $24,714,203
1723.
during the last
269
(net)
Net income
Net
Sept. 30—
1933
1934
$27,349
expenses
Federal income tax provision
pro
143, P.
A marked improvement in the Cuban raw sugar
Statement of Income, Years Ended Dec. 31
1935
2214.
McGraw Electric Co.—Extra Dividend—
11 shares subscribed but unissued,
Class A Common Stock—After all accrued dividends on the preferred stock
have been paid, dividends may be paid to the holders of the class A common
stock and class B common stock, share and share alike.
The holders of the
class A common stock and the preferred stock, voting as a class, have a right
a
p.
un¬
Purpose—All funds will be used for additional working capital in the busi¬
to elect
issued and outstanding.—V. 143,
The directors have declared an extra dividend of 25 cents per share
in addition to the regular quarterly dividend of 50 cents per share on the
b7,445 shs.
7,500 shs.
b Excludes 11 shares of pref. stock and 22 shares of class A
stock subscribed but unissued.
cludes also 411
ness
Period End.
Sales.
Of this amount 22,945 shares are reserved for the conversion of the
preferred stock,
are
McCrory Stores Corp.—Sales—
Like distributions
Company—Corporation, with its principal business office at 209 North
La Salle St., Chicago, was incorp. in Delaware Dec. 1, 1932 to engage in
the business of making small loans of $300 or under to reputable, steadilyemployed persons on the security of either negotiable collateral, automobiles,
or on satisfactory personal endorsement .
Company since its incorporation
has been engaged in this business in Illinois, operating under the Uniform
Small Loan Act of the State of Illinois, under State supervision.
In respect
of loans of $300 or less the Illinois law permits interest to be charged at the
rate of 3% per month on unpaid balances of not to exceed $150, due on such
loans, and 23^ % per month on any part of the unpaid principal balance in
excess of $150.
Company maintains branch offices in Illinois at Joliet
and Evanston.
Company has also expanded its activities into the States
of Wisconsin, Iowa and Michigan (and maintains offices at Davenport,
la., Marquette, Mich., and Marinette, Wis.), in all three of which States
it is licensed to make small loans (up to $300) pursuant to pertinent statutes
of the several States.
it
•
\
/
In addition to the small loan business, the company at Chicago and Mar¬
quette also purchases retail instalment notes secured principally by auto¬
mobiles.
Company also makes loans to dealers through whom the retail
loans are acquired.
/
■
April 1, 2003, which
—V.
p Liberty Loan Corp.—Stock Offered—Floyd D. Cerf Co.
and Lord, Albert & Co., Inc., Chicago, in September offered
per
RR.—Listing—
The New York Stock Exchange has authorized the listing of $26,000,000
1st & ref. mtge. 3gold bonds, series E, dated Aug. 1, 1921, due
(3)
(4)
Financial
Volume 143
Pf(6)
The Tunas RR.,
a
public service railroad extending about 44 miles
from the Port of Manati through the estate to a junction
of the Cuba RR. from Havana to Santiago.
upon approval of the plan, the committee will apply for New York
Stock Exchange listing of certificates of deposit for the preferred and common
Upon consummation of the plan it is expected that application will
be made to list the bonds and common stock of the new company on the
that,
stocks.
New
York
the option warrants on the New York
Stock Exchange and
Curb Exchange.
Digest of Reorganization Plan Dated Oct. 1, 1936
New Company—A new company will be
principal, assets and business of company.
with such corporate name, under the laws
or foreign—and with such charter
powers
MansfeldEMining & Smelting Co.—Foreclosure Asked—
with the main line
The committee's certificates of deposit for the outstanding bonds of
Manati are listed on the New York Stock Exchange, and it is contemplated
organized to acquire all, or the
New company will be organized
of such jurisdiction—American
as may be determined by the
committee.
Capitalization of New Company Upon Consummation of the Plan
Authorized
Outstanding
sink, fund bonds, due
$5,500,900
$5,500,900
Common stock
700,000 shs.
a 430,045 shs.
The New York Trust Co., as American trustee
10-year option warrants to purchase
185,000 shares of common stock at
$12.50 per share, b.
a
275,045 shares issuable to bondholders. 105,000 shares to pref. stock¬
holders, and 50,000 shares to common stockholders, of Manati.
b Warrants
to purchase 35,000 shares issuable to pref. stockholders, and warrants to
purchase 150,000 shares issuable to common stockholders of Manati.
Note—Some or all of the purchase money mtges. of Manati, aggregating
$286,062 may be assumed by the new company.
Treatment of Securities and Debt of Manati, Expenses of Receivership and
Reorganization, &c.
Holders of 1st mtge. 20-year 7H% sinking fund gold bonds, whether
stamped or unstamped, of 7 % cumul. pref. stock and of common stock of
Manati, who become parties to the plait, will be entitled upon consumma¬
tion of the plan, to receive new securities as follows:
(1) First Mortgage Bonds—In respect of $1,000 principal amount of their
bonds, carrying Oct. 1, 1931 and subsequent interest coupons: $1,000 1st
mtge. 20-year 4% bonds of the new company, and 50 shares of common
stock of the
new
company.
(2) Preferred Stock—In respect of each share of preferred stock: 3 shares
stock of the new 'company, and 10-year option warrant to
purchase 1 share of common stock of the new company at $12.50.
(3) Common Stock—In respect of each share of common stock: H-share of
common stock of the new
company, and 10-year option warrants to pur¬
chase
shares of common stock of the new company at $12.50 per share.
Fractional interests in common stock of the new company will be repre¬
sented by fractional scrip.
(4) Bank Credits and Loans for "Dead Season" and Crop Expenses, Ac.:—
All bank credits and loans, of Manati and
(or) its receivers or trustees, for
financing the cultivation and making of crops and other operating expenses
(including "dead season" and crop expenses) and any refundings, renewals
or replacements
thereof, to the extent that they are outstanding at the time
of consummation of the plan,
may be assumed by the new company, and in
such event any sugars or other assets which
may constitute security therefor
will, in so far as they are acquired bj the new company, be repledged there¬
for.
It is further contemplated that any then existing agreements providing
for future advances for such
purposes will be assumed by the new company.
(5) Purchase
Money
Mortgages—The
purchase
money
mortgages
amounted at June 30, 1936 to (1) $190,000
principal and $37,584 interest,
on about
14,200 acres, which are also subject to the (second) lien of the
mtge. securing the bonds of Manati, and (2) $96,062 principal and
$24,645
interest on about 3,500 acres, owned
by Manati but not covered by the
mtge. securing the bonds of Manati.
It is contemplated that neither the new
company nor any subsidiary will
acquire the lands subject to any such purchase money, mortgages
except in
so far as the committee
may conclude that such acquisition is desirable or
necessary, and that the lands covered by certain of the purchase money
mortgages will not be acquired unless a substantial part of the mortgage
debt is waived by the
mortgagees.
Title to any such lands acquired may
be vested in any
subsidiary of the new company.
Acquisition of any such
lands determined
upon by the committee may be made upon such terms in
respect of payment of any such purchase money mortgages and (or)
assump¬
tion of any thereof
by the new company, or otherwise, as may be deemed
necessary or advisable by the committee, in its discretion.
The properties
of the new
company to be covered by its new
mtge. will not, at least
initially, include any of the lands acquired by the new company subject to
of common
any such purchase money mortgage.
(6) Leases—In so far as the committee deems it desirable the new com¬
pany will assume the leases of sugar lands held by Manati or make new leases
thereof upon such terms
the committee may approve.
as
(7)
Other Liabilities—Subject to any adjustments which the committee
necessary or desirable, the liabilities of Manati (other than in
respect of the 1st mtge. bonds, bank credits, purchase money mortgages and
leases, which are to be provided for only as stated above), will be assumed
by the new
may deem
company but only in respect of claims which shall have been
allowed in receivership or bankruptcy proceedings of Manati or
may be
deemed by the committee to constitute preferential liens on
any or the
Manati properties to be acquired.
(8) Expenses of Receivership, Reorganization, Ac.—New company,
upon
consummation of the plan, will also assume (to the extent that provision is
otherwise made therefor) all expenses of the receivership and of
any
not
bankruptcy
other judicial proceedings in which Manati may be involved
or
and all expenses of
reorganization.
Consolidated Statement of Income Period from Nov. 1, 1935 to June 30, 1936
Sugar sales, f. o. b. basis, including sales value of sugar sub¬
sequently sold and unsold sugar at estimated realizable value,
$1,884,941; molasses sales (estd.), $114,759; miscellaneous
income, $6,377; total
$2,006,078
Operating expenses, f. o. b. basis
1,622,958
of the 15-year $15,000,000
1926, by the Mansfeld companytJ a
corporation, filed suit in the New York Supreme Court, Oct. 6, to
foreclose on the issue because it has been in default since Nov., 1933.
The
trustee alleges that in 1933 the German corporation paid 50% of the in¬
terest due and the remainder in scrip through its fiscal agents, Brown
Brothers Harriman & Co., and in 1934 paid 30% in cash and 70% in scrip.
No payments have been made since that time, it is said.
The compalint adds that the trust company's records show that $1,712,000 of the bonds are outstanding, and that $59,920 interest is due on
them.
The principal became payable in Feb., 1936.—V. 139, p. 2209.
bond issue of the company, sold in
German
Maple Leaf Milling Co., Ltd. (& Subs.)—Earnings$458,807
b352,505
172,003
Written-off leases &
50.000
13,000
Depreciation reserve
$312,930
261,380
162,542
a$369,949
c323,740
163,024
$193,886
d353,357
50,000
_
1933
1934
1935
1936
Years Ended July 31—
Profits from operation.
Bond interest
1st
mtge. 4%
Feb. 1, 1957
2377
Chronicle
13,000
165,846
con¬
tracts
Pay. under guarantee of
pref. div. of Eastern
Bakeries, Ltd
Prem.of U. S. funds pur.
for paym't of bond int.
Bond issue exp. writ, off
16,618
10,000
Amount written off mill
10,700
—stores and supplies.
Propor. of business ext.
expense written off
Res.
against controlled
10,000
67.228
64,640
$184,043
$222,952
cos.' account
Deficit for year.
$388,318
$128,702
a Includes
$6,609 income from sale of investments,
b Interest on
bonds—portion payable in cash $134,372; portion of interest on bonds and
deferred bank loans settled by the issue of class A shares—bond interest
$129,374, bank interest $88,760.
c $163,024 payable in cash and $189,368 portion of interest to be satisfied by issue of class A shares (bond
interest, six months, $129,374; bank interest, eight months, $59,995).
d Interest on bonds—portion payable in cash, $134,372; portion of interest
On bonds and deferred bank loans settled by the issue of class A shares
$89,227).
$218,985 (bond interest, six months, $129,759; bank interest,
Consolidated Balance Sheet July 31
c
Accts. & bills rec
Inventories
55,480
861,461
companies.-
a
195,212
6,389,530
Fixed assets
of
185,528
1st
300,000
300,000
335,485
1,966,300
4,620,500
4,620,500
121,800
mtge.
121,800
47,776
240,750
5H%
bds. due 1949..
bds.
Hed. Shaw Mill.
85,518
39,550
Co., Ltd
Bond int. accrued-
T'de-m'ks & good¬
382,396
1,966,300
(secured).
1st mtge. 6%
67,878
29,379
will
a
6,579,843
repair
parts
Def'd oper. exps._
146,967
133,474
Deferred bankers'
advs.
investments,
Invent,
180,970
payable for
& accrued chgs.
1,743,661 dl,743,661
mtges. &c
e
under dis.
3,583,991
Accts. & wages pay
com¬
panies (net)
Other
rec.
grain secured—
148,055
140,464
4,349,530
(secured)
Accts.
Invest'ts In shs. of
controlled
Curr.bankers' adv.
2,190,412 Bills
Advs. to controlled
$
$
Liabilities—
$
38,082
972,746
3,383,435
1935
1936
1935
1936
Assets—
Cash
Res. for conting__
43,651
240,750
Class A partic. pref
shs.
807,310
589,176
250,100
($14persh.)
Com. shs.
250,100
($1 per
share)
Mgement shs.
per share)
($1
Accrued
for
pro v.
the issue of cl. A
shs.to bankers on
Dec. 1,
14,793
14,793
Z>r27,085
175,895
1936—
Dr27,085
298,952
Stated value of shs.
held by subs
b
13,260,387 12,189,5111
Total
Surplus
13,260,387 12,189,511
Total
a Under
agreements with bankers and the trustee for the bondholders,
portion of the interest on the bonds and deferred bankers' advances up
to Dec. 1, 1938 is to be settled by the issue of class A shares,
b Including
a
surplus arising from reduction of capital, less amounts written off assets,
&c.
c After reserve for doubtful accounts of $88,376 in 1936 and $122,088
d Less reserve of $231,499.
e After reserve for depreciation o
in 1935.
$1,290,620 in 1936 and $1,132,748 in 1935.—V. 141, p. 3695.
Marchant Calculating Machine
Co.—Earnings—
Earnings for 7 Months Ended July 31, 1936
other charges..$416,507
Earnings per share on 200,000 common shares
$2.03
—V. 143, p. 2216.
Net income after expenses, Federal taxes &
Marine Midland
Period End. Sept. 30—
Corp. (& Subs.)—Earnings—
1936—3 Mos.—19351936—9
Mos.—1935
Net oper. earnings after
taxes & adjusted min.
$1,029,903
interests.
$939,873
$2,996,086
$2,799,220
$0.17
$0.54
$0.50
Earns, per sh. on 5,551,010 shs. capital stock
$0.18
(par $5)
'
—V. 143, p. 279
-
Profit
Interest
on
operations—receiver of Manati Sugar Co
operating profit of Ferrocarril
$383,120
earned, $2,226;
Tunas, S. A., $108,618
T
de
110,844
Total
$493,964
Interest
on
bank loans,
$275,045; interest
interest. $10,137
Proportion
of
on
and
expenses
on
bonds, $14,542;
ex¬
pended
out of trust deposit with
bondholders' protective
committee, $194; depreciation of company owned cane not
ground—crop 1935-1936, $162; loss on property retired from
service, $259
Provision for depreciation of property and plant of Ferrocarril
t
de Tunas, S. A. for fiscal year ended June 30,1936
x
Net profit
x
84,166
$65,035
—
above).
Consolidated Balance Sheet June 30, 1936
'
'
Sol,566
14,249
6,344
i
on
on
hand
1,148,365
.6,674
-
-
receivable
136,234
r
Materials
Advances
to colonos
Company
owned
& supplies
Sinking fund
Investment
Deferred charges
Property
Total
37,800
60,375
44,738
payable
expenses
Reserve for estd. dead sea¬
-
Special deposit
Notes
$576,900
Accounts
Estimated
molasses
contracts
Sugars
liabilities:
Secured bank loans
Adv. against sugar shipm't
sugar
contracts
Balances pending
Liabilities—
Receivers'
317,566
1,717,395
16,141
cane.
son
expenses...
Deferred
income
Accounts payable
1st mtge.
7^ 8
Accrued int. thereon
3 7% cumul. pref. stock
122 Common stock (par $100)
,
r
and plant (net)-.--
166,635
14,300,405
.$17,893,174
See also V. 143, p. 1887.
Deficit June 30, 1936
Total
—
to assets and dividends.
Dividends cumulative from Oct.
1,
Subscription Rights—Subscription warrants were issued to common stock¬
holders
111,855
282
158,207
Purchase money mortgages..
as
Red. in whole or in part
time upon 45 days' notice, at $105 per share on or prior to Sept. 1,
1938, $104 per share after Sept. 1, 1938 and on or before Sept. 1, 1941, and
$103 per share after Sept. 1, 1941, plus divs.
Convertible at any time on
or before Sept. 1, 1938 into two shares of common stock as same will exist
after increase of authorized shares and change of 266,689 shares into
533,378 shares thereof, and after Sept. 1, 1938 and on or before Sept. 1,
1941, into exactly one and one-half shares of such com. stock, scrip to be
issued for a fraction of a share or cash adjustment to be made therefor. If
called for redemption on or prior to Sept. 6,1941, conversion right continues
through fifth day before redemption date.
Transfer Agents, Harris Trust & Savings Bank, Chicago, and Guaranty
Trust Co., New York.
Registrars, First National Bank of Chicago, and
Bankers Trust Co., New York.
1936, at rate of 5% per annum, payable Q.-M.
at any
providing for depreciation on property and plant (except as
provided with respect to property and plant of Ferrocarril de Tunas, S. A.
Accounts receivable
Balances pending on
corporation's common stock and by
subscription privileges offered to holders of
the corporation's 7% cum. pref. stock, which has been called
for redemption.
the exercise of
Preferred
15,157
Before
Assets—
Cash
Corp.—Preferred Stock Offered—Cassatt & Co.
Oct; 6 announced that 21,335 shares 5% cum. pref.
stock (series A, convertiole until Sept. 1, 1941) haa been
subscribed at $103 per share by the exercise of warrants
on
issued to holders of the
$39,768; interest on 1st mtge. bonds,
U. S. income tax claim, $4,657; other
329,607
discount
Masonite
Inc.,
348,292
5,500,900
2,165,979
3,500,000
10,000,000
4,612,154
$17,893,174
or
record Sept. 8, evidencing their right to subscribe to
this issue of
5% cumulative pref. stock at $103 per share, on or before Sept. 29, 1936.
The holders of the old pref. stock (called for redemption) were offered the
privilege, subject to the subscription rights of holders of common stock, to
purchase on or before Sept. 29, 1936, at $103 per share, so many whole
shares of the 21,335 shares of 5% cumulative preferred stock as may be
purchased at $103 per share out of the redemption moneys of the old pref.
stock, and an amount in excess thereof not to exceed $3 per share of old
pref. stock redeemed, such purchase to be made by the application of said
redemption moneys, and the payment of up to $3 per share of old pref.
stock redeemed, in excess thereof, if necessary.
History and Business—Corporation was incorp. in Delaware Sept. 1,
1925, under the name of Mason Fibre Co.
Name changed in March 1928,
to Masonite Corp.
Financial
2378
Oct.
Chronicle
1936
10,
dividend of 50 cents was paid on
Corporation is engaged in the manufacture and sale of four principal
products known to the trade as Masonite structural insulation, Masonite
Feb. 1, 1932.
In addition, an extra
Feb. 1. 1935.—V. 143, p. 1724.
Masonite presdwood and Masonite temprtile. ^ The manu¬
facturing process consists, broadly stated, in the reduction of wood to a
fibrous stage by the, explosion of the wood by high pressure steam, the
cleansing and refining of the fibre and its formation into wet lap, which
when placed in flat-bed hydraulic presses and subjected to heat and pres¬
The Scripps-Howard newspapers announced Oct. 5 the acquisition of
ownership and control of The Memphis Commercial-Appeal.
The terms
of the sale are not revealed.—V. 141, p. 1278.
quartr board,
Inc.—Newspaper Sold
Memphis Commercial-Appeal,
results in the grainless finished
product. As a result of this process,
boards of different sizes, density, thickness and strength are manufactured
-
sure
for use
as
Menasco Manufacturing Co.—Registers
insulation, structural or finishing purposes and for other industrial
See list given on first page
uses.
The corporation's manufacturing properties are located at
Laurel, Miss.,
where the corporation owns in fee approximately 135 acres, of which approxi¬
mately 40 acres are used for actual plant and building sites.
The main
manufacturing building is of steel frame construction, metal covered, con¬
taining approximately 245,000 square feet of floor area.
It houses high
pressure steam boilers, low pressure steam boilers, gun room for wood
explosion, fourdrinier machines, refiners, and a battery of 14 multiple
hydraulic presses.
The building also has warehouse facilities for approxi¬
mately 50,000,000 square feet of finished product.
;
Capitalization
The capitalization after giving effect to
the redemption of the old 7 %
preferred stock, the authorization of 50,000 shares of preferred stock
(par $100) issuable in series, the issuance of 21,335 shares thereof as series A
preferred stock, the increase of the authorized common stock to 700,000
shares (no par) and the split-up of the outstanding common stock on a two
for one basis, will be as follows:
Authorized
Outstanding
Preferred stock (par $100 per share, issuable in
series)
50,000 shs.
Series A preferred stock
21,335 shs.
21,335 shs.
Common stock (no par)
*700,000 shs. 533,378 shs.
*42,670 shares reserved for issuance
upon
Co.—Voting Trust Ends—
The voting trust agreement, dated Oct. 7, 1931, terminated Oct. 7, 1936.
The capital stock represented by the outstanding voting trust certificates
will be exchangeable threfor upon surrender of sucn voting trust CCTtmcates,
on or after Nov. 1, 1936 when the stock certificates will be ready for de-
-
Ohas. D. Barney & Co., New York
Middle West
1,200 shares
.
-
1,200
1,200
1,200
1,200
1,000
l ,000
500
_
shares
shares
shares
shares
shares
shares
shares
Income Account for Stated Periods
Year Ended Aug. 31
1934
$836,654
860,178
$1,487,205
984,773
$2,451,547
1,265,062
44 Wks.End.
July 4, '36
$2,566,119
1,339,692
Net profit from opers. loss$23,524
$502,432
$1,186,485
74,649
$1,226,426
61,480
$1,261,134
$1,287,906
41,325
170,593
41,270
$1,034,718
1933
Gross profit on sales
Total expenses..
Other income
70,622
Interest
$47,098
135,607
.
Interest & other charges
$527,177
78,906
56,500
12,000
Mississippi taxes._____
Net income.
loss$88,509
Balance Sheet July
1935
53.522
161,936
41,404
$1,004,272
$379,771
^ Assets—
$916,618
818,812
783,235
68,355
_____
Inventories
_____
and
35,217
3,003
1,672,797
194,424
investments, &c
Plant and equipment
Intangible assets
Total
Accrued liabilities
Provision for Income taxes..-
7% preferred stock.
$4,492,462
(266,689 shs.)
Earned surplus
M
$139,825
175,082
261,716
1,347,700
627,785
1,940,354
;
Total.
$4,492,462
Exchange has admitted to unlisted trading privileges
stock, no par, in lieu of old common stock, no par, issu¬
exchange for old common stock on the basis of two shares of new
stock for each share of old
common
stock.—Y. 143, p. 156**'.
Matson Navigation Co.—Stock
Split
'
550 outstanding shares of $100 par becomes 1,762,750 shares of no par
value stock, the aggregate
carrying value on the books remaining un¬
changed at $35,255.000.—V. 143, p. 1564.
Corp.—To Vote
on
Dividend Plan—
The stockholders will vote Oct. 30
on approving a proposed amendment
of the accumulated unpaid dividends
totaling $19.50 a share, on the $6 cumulative preferred series A stock.
If the proposed amendment is
ratified, directors will declare a dividend,
payable in present authorized but unissued common stock, in lieu of cash
to
pay
share of
$15
common
stock outstanding.
stock for each share of $6 preferred
To Build New Mill—
ownership interest in
the company.—V. 143, p. 928.
Four Weeks Ended—
9
6
July
4---i--._.
Aug. 1
Aug. 29.
Sept. 26
—
-
—
1935
1934
1933
$2,121,902
1,413,889
1,886,886
3,812,588
2,795,262
3,601,140
3,249.480
1,807,272
Mar. 14-.
Apr. 11---June
$1,748,419
1,421,024
1,699,250
2,516,819
3,364,128
2,985,692
2.654,958
1,377,870
1,596,796
$1,325,240
1,290.858
1,543,401
2,720.111
2,323,145
2,910,143
2,152,583
1,283,701
1,562,967
2,549.956
$1,060,914
1,017,182
1,010,003
1,945,178
1,444,198
2,054,505
1.770.716
1,242,728
1,708,958
3,387,267
2,878,307
1,500,476
2,028,993
Larger Common Dividend—
The directors
-
Total income
General
Oct. 5 declared
Net
income
b7,125
1,097
$283,092
—-
Consolidated Income Account 6 Months Ended June
30
[This statement includes the operations of subsidiary companies (incl,
suDholding cos.) in which Middle West Corp. has voting control.
It also
Kentucky Utilities Co., Lake
Superior District Power Co., Michigan Gas & Electric Co. and Wisconsin
Power & Light Co., in which companies Middle West Corp., either directly
or through subholding cos., has a majority of the common stock but does
not presently have voting control due to voting preferred stocks owned by
the public.]
includes Central Illinois Public Service Co.,
Subsidiary Companies—
1936
Operating revenues
.-$32,604,035
Oper. expenses, incl. taxes, except surtax on undis¬
tributed profits (incl. maintenance of $2,060,790
and $1,932,066 in the respective 6 mos.'periods) 17,362,076
Net operating revenues
Provision for retirement reserves.
1935
$29,953,405
.
$11,385,662 $10,093,338
418,178
335,080
Net operating income
Other income (net)
--$11,803,841 $10,428,418
7,171,309
7,552,716
income
Net income of subsidiaries
Divs,
on
Divs.
on
$2,875,701
$4,632,532
-
preferred stocks of subs, declared-pref. stocks of subs, earned or reserved
2,378,240
1,860,685
for but not declared
applic. to Middle West Corp., before
deducting unearned cum. divs. on pref. stocks
Balance
$393,607
Corp.—
Balance applic. to Middle West Corp. (as above)-Int. received or accrued on obligations owned by
-
Divs.decl. on pref. stocks owned by Mid. W. Corp.
Divs. earned or reserved for but not declared on
pref. stocks owned by Middle West Corp——
Not
$393,607
comparable
207,423
21,720
277,477
Total received from or
applic. to invest, in and
a d vs
tosubrcos. owned byMtdrWest Corp._
General exps. & taxes of Mid. West Corp. $135,579,
less income from other than sub. cos. $124,462-Consol.
deducting unearned
div. requirements for the period on cum. pref.
stocks of subs. held by public
Unearned div. requirements for period on cum.
pref. stocks of sub. cos. held by public
Consol.
x$900,226
11,116
net income before
net income
deducting full cum.
div. require, applic. to period on pref. stocks
of sub. cos. held by public
—V. 143, p. 1084.
Minneapolis St. Paul & Sault
1936
Gross from railway.
Net from railway
Net after rents
From Jan. 1—
Gross from railway
Net from railway
Net after rents
$889,109
689,183
after
-
$199,926
Ste. Marie
1935
Ry ,—Earns.
1934
1933
166,905
$2,097,083
564,969
292,663
$2,287,579
716,781
409,321
14,665,013
1.827,491
defl58.304
14,622,320
2,388,064
251,764
14,186,889
2,338,085
134,507
$2,724,970
964,409
582,062
$2,173,547
451,329
17,376,597
3,599,656
1,194,366
—V. 143, p. 1888.
Missouri Arkansas
railway
Net from railway
Net after rents
Ry.
Earnings—
1935
1936
$83,891
6,977
def5,073
1934
1933
24,827
15,316
$73,637
16,552
6,792
$85,400
36,924
27.097
346,113
93,153
52,823
644,670
130,247
40,865
def 1,841
$87,375
From Jan. 1—
Gross from railway
Net from railway.Net after rents
670,389
131,766
42,589
549,792
83,840
—V. 143, p. 762.
Missouri-Kansas-Texas RR.—Outlook Promising—
S. Sloan, Chairman and President, has issued the following
Matthew
statement:
"As I leave for
for the
a trip of about a month to the Southwest, the
outlook
'Katy' for the rest of this year is bright.
Our loadings so far in
are up to our estimates, which means that they are ahead of last
May 1 and Feb. 1, 1934; 30 cents per share paid each quarter from Aug. 1,
1932, to Nov. 1, 1933, inclusive; 40 cents on May 1, 1932, and 50~ceats per
share distributed each three months from Feb. 1, 1930 to and inchT"
than for September, 1935.
"The rains were of tremendous
a
16,220,728
$15,241,958 $13,732,677
3,856,295
3,639,338
-
October
67,356
----
been
interest
dividend of $1.25per share on the com¬
mon stock, no par value, payable Nov. 1 to holders of record Oct. 17.
This
compares with $1 paid on Aug. 1, last; 87 J4 cents per share paid on May 1
last; 75 cents on Feb. 1 last and on Nov. 1,1935; 62H cents on Aug. 1,1935;
50 cents perjshaire paid in each of the four preceding
quarters; 40 cents on
on
$418,671
---
Departmental and general expenses
Taxes, incl. $46,195 Federal income taxes (no provision has
made for Fed. surtax on undistributed profits)
Gross from
1936
18
15
May
Others
August-£-
Melville Shoe Corp.—Sales—
Feb.
65,625
103,249
9,934
4,899
Subsidiary utility companies
Subsidiary non-utility companies.
August—
A new bleaching and sulphate mill to be erected at
Brunswick, Ga., at an
approximate cost of $3,000,000, will supply a great portion of the com¬
pany s bleached pulp, C. R. Van de Car Jr., Vice-President, states.
'Mr.
Van de Car, who is President of the new
company, to be known as the
Brunswick Pulp & Paper Co., said the material
supplied by the new mill
will be used by Mead Corp. as a substitute for raw materials now
purchased
abroad.
The mill will have a capacity of
approximately 150 tons daily.
Mr. Van de Car stated that the new
company will not be a subsidiary to
the Mead Corp., although Mead will have a stock
Jan.
21,719
5,131
stocks:
.
5-for-l—4
P The company has split up its $100 par capital stock by exchanging fivenew no par shares for
each-oLd-^lOO par share outstanding.
The old 352,
one
1
common
Middle West Corp
The New York Curb
at the rate of
46,669
13,359
received from sub. cos.
of certain subsidiaries
the new common
directors
nn„
having preferred dividends in arrears)
Others..
Dividends on
Middle West
Admitted to Unlisted
Trading—
permitting
receivable:
Interest and other deductions.
Accounts payable
Common stock
former executive
Mead
notes
Dividends—On preferred stocks:
Sub. cos. (including $19,981 divs.
Gross
4,1936^
Liabilities—
Cash
able in
on
Subsidiary companies—after reserves of $103,807
„
24.745
Federal taxes
common
Corp.—Earnings—
Corporate Income Account, 6 Months Ended June 30, 1936
$56,945
Income—Interest on bonds & debentures subsidiary companies.
91,137
Others
1,200 shares
_.
Clark, Dodge & Co., New York
Hayden, Stone & Co., New YorkHemphiil, Noyes & Co., New York
Hornblower & Weeks, New York
G. M.-P. Murphy & Co., New York__
Northern Wisconsin Securities Co., Wausau, Wis
Securities Co. of Milwaukee, Inc., Milwaukee
McGowen, Cassady &r White, Inc., Chicago
Sundry
in Reor¬
V. 137,
Michigan Fuel & Light Co.—To Be Merged
ganization—See Public Gas & Coke Co. below.
p. 2976.
Miscellaneous
from others.
Underwriters—The following principal underwriters have severally agreed
to take up and pay for up to the number of shares of series A pref. stock
set opposite their
respective names.
Cassatt & Co., Inc., New York
11,635 shares
(net)
•
Others
The balance of the net proceeds for additional general working capital.
Premium deposits
Due
from
employees
'
certificates may surrender them for such exchange
Trust Co., 45 Beaver St., New York.
The voting trustees were: A. C. Dent, F. E. Frothmgham, H. H. Knight
and H. C. Payson.—V. 143, p. 434.
Holders of voting trust
at the office of Manufacturers
purposes:
old preferred stock.
150,000 for general plant improvements.
200,000 for experimental plant, machinery and equipment for develop¬
ing and testing new products and improvements of processes.
150,000 to carry enlarged inventory in hands of del credere agents.
50,000 to carry increased receivables in export trade.
150,000 to carry increased inventory of white insulation board purchased
Receivables
_
livery.
$1,347,700 to reimburse the corporation for the cost of redemption of the
Total income.
4170.
Miami Bridge
conversion of ser. A pref. stock.
Purpose—Net proceeds will be used for the following
with SEC
of this department.—V. 141, p.
year, when we had a particularly good October.
"In spite of the dry spell—I don't call it a drought—in some sections of
Northern Texas earlier in the season, and heavy rains in some parts of
south Texas recently, 'Katy' loadings for September were 14.0% larger
benefit to the soil and, as
look for bumper crops of wheat, oats, corn
a result, I
and cotton in that part of Texas
Volume
Financial
143
next^year. The damage to our property from the high water was only
WE DEAL IN
"Cotton is moving over 'Katy' lines to port at Galveston and Houston,
is shown by our detailed statements of loadings for recent weeks.
as
MISSOURI PUBLIC SERVICE
the 'Katy' received from
connecting lines, 17% more cars of freight than for the corresponding
period last year.
Loadings on our own line for that period were up 10%
and total loadings 11%.
With the loadings of the railroads as a whole
making new high records, I look for a further substantial gain in our loadings
V,"For the first eight months of this fiscal
year
from connections.
2379
Chronicle
1st 5s,
1st
5s, due 1961
.
"Estimated gross revenues of the
When Issued
'Katy' for September were $2,767,000,
increase of $273,000, or nearly 11% over September, 1935.
Net income
an
after fixed charges was $100,000 against a deficit last year of $14,000, an
actual gain of $114,000.
"Gross revenues for the first 9
months
of this year, were
due 1960
TEXAS PUBLIC SERVICE
YARN ALL & CO.
$22,900,000
A. T. & T. Teletype
$3,433,000 more than the same period last year, an increase of about
18%.
The deficit after fixed charges was only $815,000, a drop of $1,850,000 from the same period of last year.
>r
"Cash on hand is about $4,500,000.
Before the end of the year we
expect to have approximately $6,500,000."
or
1528
—
Phila. 22
Philadelphia
Walnut St.
.
Estimated
Earnings for September and
.
..
_
„
9 Months Ended Sept. 30—
Gross revenues
Deficit after fixed charges
—V. 143, p. 2216.
.
Missouri Pacific
1935
$2,494,000
defl4,000
22,900,000
815,000
revenues
19,467,000
2,665.000
the
proposed reorganization
p. 2216.
hearing on
Nov. 10.—V. 143,
of
on
1936
postponement
Oct. 6 to
from
Oct. 2 found the company not
...
_
March
July
August
September
financial reorganization in the public interest at this time
and granted an extension for period of not to exceed one year of time of
Telephone Co.—To Offer $750,000 Bonds—
—V. 143, p. 2058.
June 13
of this department.—V. 143,
p.
June 16 '34 June 30 '33 June 18 '32
to
to
to
'36 June 15 '35 June 16 '34 June 30 '33
$1,467,132
1,092,617
$2,388,030
167,006
106,135
134,949
270,534
238,244
$130,596 loss$75,817
10,233
7,79ft
$136,323
24,563
.18,886
$140,829
25,481
27,424
Res. for Fed. inc. tax..1
$168,731
33,318
59,300
Cr. 84,107
17,000
$143,221
$1.64
$87,873
$1.00
Total
income
Prov. for depreciation..
Other deductions
with
1565.
1936
1935
1934
1933
$17,854,609 $17,904,886 $15,421,893 $10,131,891
24,844,596
22,783,089
18,312,477
11,263,374
30,402.667
25,571,012
20,872,132
15,665,586
30,295,408
22,914,580
20,934,510
15,247,812
30,330.174
23,822.297
19,266,336
16,103.560
25,635,866
20,293,175
15,890,560
13,641.121
27,422,133
22,848,599
18,914,959
15,390,120
33,357,194
25,172,907
23,093,465
16,583,708
of—
March
April
May
June
July
August
September
—V. 143, p. 2216.
Monroe
Cash...,
&c., rec.
Depos. in London.
346,314
Inventories
335,935
15,827
15,346
Prepd. insur., &c.
a
Co.'s
c
R'l est., eq., &c_
Calculating Machine Co.—Pays $2 Dividend—
of $2 per share on the common stock, no
value, on Sept. 30 to holders of record Sept. 12.
This compares with
$1 paid in each of the four preceding quarters; $2 on June 30, 1935; $1 on
March 31, 1935; $2 per share on Dec. 31, 1934; $1 per share paid in each
of the first three
quarters of 1934; none in 1933 and 1932; $3 paid in 1931;
$6 per share paid in 1930 and 1929 and $5 per share in 1928.—V. 140, p. 322.
Montana Dakota Utilities Co.—Plans
$2,300,000 Issue
The company
has filed a registration statement with the Securities and
Exchange Commission under Securities Act of 1933 covering $2,300,000
10-year 4H% convertible debentures, due Oct. 1, 1946.
Proceeds of the
issue will be applied toward reduction of outstanding funded debt including
$6,750,000 Montana-Dakota Power Co.53^% 1st mtge. bonds due Jan. 1,
1944; $3,300,000 Minnesota Northern Power Co., Montana Dakota Utilities
Co. & Gas Development Co. 1st mtge.46% bonds due April 1,1944, $754,300
Montana Cities Gas Co. 7% 1st mtge. sinking fund bonds, due Nov. lr
1937, and $228,000 of Montana Cities Gas Co. 7% 10-year debentures
due Nov. 1, 1937.
Debentures will be offered to public at 100.
The names of under¬
writers will be supplied by amendment.
Company on April 5, 1936._file<La registration statement with the Com¬
mission covering $12,500,000 4M% 1st mtge. sinking fund bonds, series A,
due 1956, and $2,450,000 of serial debentures, due serially May 1, 1937
to May 1, 1943.
On June 25 the Commission issued an order permitting
the company to withdraw such registration at their own request.
Company has asked the Federal Power Commission for authority to
issue and sell $2,300,000 10-year 4}4% convertible debentures due Oct. 1,
1946, and to issue 115,000 shares of common stock ($10 par) upon the
exercise of the conversion privilege provided in the debentures.
Hearing
will be held on the application on Oct. 16.—V. 143, p. 118.
(Tom) Moore Distillery Co.—Extra Dividend—
have declared
an
extra dividend of 5
cents
share in
per
a regular quarterly dividend of 12 H
cents per share on the
stock, par $1, both payable Nov. 2 to holders of record Oct. 20.
Like amounts were distributed on July 20, April 15 and Jan. 15, last and
Oct. 15, 1935, these latter payments
p.
being the initial distributions on
434.
See list given on first page
estate,
$2,204,292 $2,183,947
-
Inventories
Cash & receivables
120,439
922,178
374,518
1
116,942
966,530
241,959
.$3,621,428 $3,509,378
Liabilities—
1935
Res. fordeprec'n..
Earned surplus...
249,563
107,300
345,102
424,944
1
$1,514,845 $1,361,777
Represented by
Total.
14,237 shares in
1936 and
...$1,514,845 $1,361,777
14,337 shares in 1935.
Narragansett Racing Association, Inc.—$1
Dividend—
share on the common
Nov. 12 to holders of record Nov. 5. A dividend of
paid on Dec. 6, 1935 and a dividend of $50 per share
in cash and 49 shares of common stock for each share held was paid on
Sept. 16, 1935.
President O'Hara announced that while the earned surplus and cash
position of the company warranted a larger dividend, directors felt that
good judgment required limiting the dividend to $1 per share at this timer
and that after the fall meet of 17 days is ended Nov. 11, the balance of the
earnings of the company for the current year would be distributed in
accordance with the requirements of the Federal tax law through another
cash dividend, payable in December.—V. 143, p. 434.
The directors have declared a dividend of $1 per
National Can Co.—Stock Dividend—To Merge—
a special meeting of the board of directors held Oct. 6, a stock div. of
holders of record at the close of business as of Oct. 6.
The directors also voted, subject to the approval of the stockholders,
that this company be merged into the McKeesport Tin Plate Co. which
now owns 65% of the stock of the National Cna Co.—V. 141, p. 3869.
At
33 1-3% was voted to
National
Gas
Other reserves
Profit and loss
Under Proposed Reorganization
Plan—See Public Gas & Coke Co. below.
Pro Forma
1935
Coke Co.)
... $1,383,411
1,011,375
Consolidated Income Statement—12 Months Ended Dec. 31,
(Reflecting Proposed Acquisition of Assets of Public Gas &
Gross operating revenues
Operating expenses and taxes
...
operating revenues
Non-operating income (net)
$372,036
20,389
—
$392,425
114,143
Retirement accruals
Gross income
$278,281
124,607
...
,
Deductions from gross income
Balance for reserves and dividends
,
Note—The above figures have been adjusted to give effect to
tion of receivers' and trustees' expenses of National
Total
company granted an adjournment until Dec. 15.
By that time, attorneys
for the line said, they hoped that the line would be on a solid financial
basis through adjustments arranged before the recently created United
States Maritime Commission.
The company has been in process of reorganization
Act since June 13, 1934. Glover Johnson, of counsel
under the Bankruptcy
for the line's trustees,
asked the Court to dismiss the foreclosure suit on the ground that Congress
had made it possible to place the company's problem before the agency
intended to aid the merchant marine. This was refused.
Gordon W. Bell, Assistant Solicitor General, suggested the adjournment
because President Roosevelt has thus far appointed only three of the five
members of the Commission. He was in agreement with the line's general
reorganization committee, which already has applied to the new agency,
that the steamship company should have an opportunity to obtain relief
through mail subsidies and mortgage adjustments.
c
Property, plant &
equip... $9,850,341
1,376,655
subs., not consol...
Cash...
—
Accounts receivable..
...
Materials and supplies
f.„.
162,779
4,476
22,944
14,546
Reacquired securities (bonds)
15,925
31,500
w
Appliances on rental
Prepayments
...
Special deposits
Unadjusted debits
d Common stock ($10
1st lien coll. trust 5s
Taxes accrued
$12,071,839
...
.....
Miscellaneous liabilities
Consumers' deposits
e
Retirement reserve
Oper. and other reserves.
Contributions for extensions.
Capital surplus..
Earned surplus
1
par).. $3,995,553
2,345,280
3,500
282,051 Purchase contract—4%
25,263 Accounts payable
285,359 Interest accrued
•
Notes receivable
Total
Coke Co.)
Liabilities—
Assets—
a
v
1935
(Reflecting Proposed Acquisition of Assets of Public Gas &
b Inv. in
$153,674
the elimina¬
Gas & Electric Corp.
Pro Forma Consolidated Balance Sheet Dec. 31,
$3,621,428 $3,509,378
Line—Foreclosure Delayed—
Gas
& Electric Corp.—To Merge Public
and Subsidiaries
Coke Co.
&
1934
$2,000,000 $2,000,000
1,121,471
1,077,140
40,000
30,500
459,956
401,739
Federal Judge Alfred C. Coxe, after hearing arguments Oct. 8, against
foreclosure by the Government of a $2,537,000 mortgage against the
36,278
507,500
632,937
.....
Capital stock.__
stock par $1, payable
25 cents per share was
-V. 143, p. 763.
Munson Steamship
66,916
507,500
632,937
&c
d
Balance.
Capital stock
ma¬
&c
Investments
Total..
1934
1935
Assets—
chinery,
$77,761
taxes,
and discounts of $19,100 in 1936 and
$29,385 in 1935.
c After reserve for depreciation of $355,549 in 1936 and
$348,561 in 1935.
d Represented by 101,500 shares (no par), including
treasury stock.—V. 143, p. 929.
of this department.
Morse Twist Drill & Machine Co.—Bali Sheet Dec. 31—
Real
commis.,
$57,929
Net
(H. B.) Morgan Distilleries, Inc.—Registers with SEC—
June 15' 35
payable,
trade, &c
Accrued
payrolls,
b After reserve for bad accounts
common
143,
own
Total...
addition to
the issue.—V.
29,374
capital
stock reacquired
a
June 13' 36
Liabilities—
Accounts
Paid-in surplus...
Other assets
The company paid a dividend
on
$313,472
277,755
12,032
374,336
9,704
$376,477
b Notes,
$82,724 loss$158,404
$0.93
Nil
Sheet
June 15* 35
Goodwill, &c
par
The directors
June 13' 36
Assets—
,020
46,707
43,677
5,200
5,000
Balance
Month
108,970
.$130,845
5,478
Montgomery Ward & Co., Inc.—Sales—
February.
1,955,069
$163,024
5,707
Extraordinary credits—
Inc.—Registers
SEC—
page
Sept. 30,
Profit for periodEarns, per sh. on cap.stk.
$1.10
Earnings per share on 100,000 common shares
—V. 143, p. 1565.
first
against 188
$1,847,764
1,443,778
Operating income
Net income after expenses, deprec., amortiz., int. prov. for income
taxes and other charges
'
$132,227
See list given on
1,803,139
1,912,000
on
177,182
115,306
goods sold
Selling, warehouse and
delivery expenses
Admin. & gen. expenses-
Int. earned & sundry inc.
Earnings for 6 Months Ended June 30, 1936
Co.,
totaled 192,
1,804,118
$2,174,822
1,719,310
Cost of
Mock, Judson, Voehringer Co., Inc.—Earnings—
Voehringer
2,512,815
2,350,545
June 15 '35
Net sales
The company in an amendment filed with the Securities and Exchange
Judson,
$1,129,575
1,222,990
1,313,762
1,628,753
1,661,437
1,808,328
to
Commission states it will offer $750,000 4 M% first mortggae 25-year bonds,
series C, at 102.
Blythe & Co., Inc., will be the principal underwriter.
Mock,
1933
$1,554,500
1,584,436
2,246,132
2,060,363
2,367,499
2,465,993
2,075,916
2,118,051
2,105,135
Nachman-Springfilled Corp.—Earnings—
maturing
Period—
Missouri
1934
$1,803,350
1,890,864
2,266,253
2,575,710
2,420,153
2,583,924
2,354,196
Stores in operation on Sept. 30 last
1935.—V". 143, p. 1724.
to be in need of
payment of loan by the Reconstruction Finance Corporation,
Oct. 7, 1936,i n the amount of $33,000.—V. 143, p. 1724.
1935
$2,003,071
2,310.918
2,320.436
3,001,322
3,089,387
3,182,944
2,973.840
2,922,496
2,907,459
of—
January
February....
June
company
Missouri Southern RR.—Reconstruction Loan Extended—
The Interstate Commerce Commission
(G. C.) Murphy Co.-—Sales
Month
April....
May
RR.—Hearing PutjOff—
The Interstate Commerce Commission on Oct. 2 ordered
of
proceeding was started when the line defaulted on notes
of four vessels from the Government.—V. 143, p.
2217.
1936
$2,767,000
100,000
September—
Gross
Income after fixed chargas
The foreclosure
made in the purchase
Year to Date
Total
87,683
42,006
50,106
8,444
59,051
1,723,261
130,559
3,136
3,559,658
f63,600
$12,071,839
*
a
Includes $584,318.06,
of subsidiary
companies,
representing excess carrying value of securities
b Investment in (1) Wisconsin Fuel & Light
2380
Financial
Co.: Real estate mortgages, 5%, $11,000; 10-year convertible debentures,
7%, $108,500; notes and accounts at Dec. 31, 1935, $522,832; common
stock, $100 par, $100,000; 7% cumulative preferred stock ($100 par),
$138,400; (2) Northern Indiana Fuel & Light Co.: first mortgage bonds, 5%,
$236,650; 7% cumulative preferred stock ($100 par), $241,482; common
stock
($10 par), $17,790.
c Deduction
has been made for necessary
expenditures of reorganization estimated at $65,000.
d Represents maxi¬
mum amount of common stock to be outstanding
assuming exercise by
security holders of Public Gas & Coke Co. of option to accept stock in
lieu of cash as permitted by amended plan.
Includes estimates of 339
shares to be issued in settlement of miscellaneous unliquidated claims,
subject to approval of Federal Court,
e Retirement reserve of the Michigan
Fuel &
Light Co. has been increased in the amount of $284,447.
f Repre¬
sents earnings from May 1,1935.—V. 143, p. 1085.
1
National Cash Register Co.—Domestic Gross Orders—
Month of—
1936
$1,825,375
1,591,675
1,737,350
1,561,800
3,070,125
January.
February
March
April..
May
June
1935
$1,270,000
1,179,375
1,562,100
1,369,225
2,407,100
2.301,405
1,200.100
1,446,975
3,147,775
1,799,300
July
August
September
—V. 143, p. 1565.
1,927.750
2,016,500
National Investors
Chronicle
Assess—
1,005,550
1.310,550
1,103,475
2,216,800
2.082,475
948,200
1,282,800
1,083,775
1,371,750
10, 1936
&
Capital and sur¬
x
y$4,459,708 $4,447,873
1 Accounts payable.
24,285
66,101
1,413
8,588
8,947 Sales tax payable.
Accrued wages, &c
6,360
19,807
plus
equipment...$6,110,182 $6,095,219
Pats. & goodwill..
1
Cash
181,509
Call loans & accrd.
interest
-
Cash
surr.
Reserve for depre¬
325,411
71,784
190,292
Dom. & prov. bds.
Accts. receivable.
1935
1936
Liabilities—
1935
1936
Land, bldgs., plant
2,310,819
2,660,655
ciation
294,675
145,498
value
life insurance...
180,094
Deferred charges..
Total
131,000
3,692
97,388
14,329
140,500
Sundry investm'ts
Inventories
1934
$1,076,000
Oct.
Comparative Balance Sheet June 30
15,086 ft
$7,214,860 $6,790,751
$7,214,860 $6,790,751
Total.
Represented by 130,000 shares of capital stock without nominal or
y As follows: capital stock (130,000 shs. no par), $3,500,000;
capital surplus, $934,326; earned surplus, $25,382.—V. 141, p. 1938.
x
par value,
National Malleable & Steel Castings—Larger
The
directors
common
have
declared
a
of
dividend
Dividend
cents per share on
65
dividends of 25 cents per share were distributed each
three months.—V.
143, P. 1239.
National
Corp.—Earnings—
Rubber
Machinery Co.—Shipments, Etc.1935
1936
Earnings for 9 Months Ended Sept. 30, 1936
Income:
management fees received from affil. companies
$96,539
54,685
13,325
Cash dividends received from affil. companies
Other cash dividends...
Total income
!
$164,549
79,652
7,256
;
.1.
,
Ne„ income exclusive of profit per security profits account
$77,641
Security Profits Account 9 Months Ended Sept. 30, 1936
Profit realized
on
Decrease in
sale of securities, based on average cost
excess
of cost
o\ er
market
or
investments in affil. cos., as reported
excess of market value over cost of other
National Tile
40,093
Total.
$324,063
Sell., gen. & adm.
Depreciation
$5.23
bAcc.
receivable.
Capital assets...
companies,
in
as
283,970
on
19.11
invests, in affil.
reported
unrealized
profit on other invest¬
ments, as reported
Dividend
on
40,093
preferred stock.
Increase for period—after dividend
Net assets, as reported at Sept. 20. 1936
2.70
$422,398
22,287
$26.93
$166.13
PerSh. Outstd
$130,625
.67
$2,468,321
Comparative Balance Sheet
Assets—
a
Sept. 30,'36 Dec. 31/35
Inv. in affiliated
Liabilities—
Accrued expenses.
Sept. 30,'36 Dec. 31 ,'35
$1,825
$3,925
4,575
Income tax
for
325
175
500
750
Federal
cap. stock tax..
Fed. & N. Y. State
taxes for unempl.
300
-
stock,
14,858
c Common stock._
411,319
Paid-in surplus... 4,463,242
Security profits def 2.564,002
Income surplus
142,904
Total
$2,478,271 $2,078,460
Total
14,858
411,319
4,463,242
2,908,759
87,549
Neisner
cost, $463,000.
d $1 par value stock.
March
Eugene Lamb Richards, deceased,against Fred Y. Presley,
Corp. and Guardian Detroit Co., assessing $1,215,193
Subsequent to the filing of the report of the referee the plaintiff moved
Special Term of the Supreme Court of New York.
The decision of Justice Lockwood modifying the
report of the referee
to confirm it at
The modification consists in
a
reduction of the
damages from $1,215,193 with interest to $251,667, with interest from
Jan. 9, 1929.
Either party has the right of appeal from this decision.
The corpora¬
tion's future
course
in this
action will
be
determined after careful con¬
The purpose of this letter is
sideration and consultation with counsel.
to advise you of the reduction in the amount assessed
against this corpora¬
tion and the other defendants by the referee.—V.
143, p. 1085.
National Steel Car
Corp., Ltd.—Earnings—
Years End. June 30—
1936
Loss for year
prof$368,982
Reserve for deprec'n of
bldgs., mach. & equip.
Cost of experimental and
development work
Net
357,147
1935
1934
1933
$203,294
$229,756
$290,686
50,000
50,000
50,000
34,833
1,659,109
1,157,525
1,202,960
—
1,297,180
(J. J.) Newberry Co., Inc.—Sales—
i
Month of—
1936
1936
1935
-
$2,345,084
2.528.594
3,021,004
3,521.592
3,365,769
4,154,227
April
May
$2,446,502
2,752,292
2,968.868
3,690,855
3,966,016
1934
$2,360,766
2,294,272
3,329,179
2,876,783
3,408,136
1933
$1,883,121
1,976.225
2,117,309
2,710,174
2,740,152
3,608.094
3,122,802
3,241,494
2,900,065
2.934.565
3,520.541
3,996,269
3.916,349
3,873,604
January..
February
3.428,849
3,579,492
3,322,860
June
July
August
September
—V. 143, p. 1725.
——"
New Britain Machine
2,847,365
3,042,629
3,270,977
—"
.
Co.—Registers with SEC—
See list given on first page of this department.—V. 143, p. 2219.
New Orleans Great Northern Ry.—BondsThe Interstate Commerce Commission
on
Sept. 24 authorized the
com¬
pany to issue not exceeding $700,000 of first mortgage 5% bonds, series B,
to be delivered at par to the Gulf Mobile & Northern RR. in partial reim¬
bursement for expenditures made for rehabilitation of and additions and
betterments to its railroad.—Y. 139, p. 2526.
Preferred Dividend—
a dividend of $1.50 per share on account of
6% cum. pref. stock, par $100, payable Nov. 2 to
holders of record Oct. 15.
Similar distributions were made on April 1, last,
Nov. 1 and March 1, 1935, Nov. 5 and June 15,1934, and on Nov. 2, 1931,
this latter payment representing the dividend due May 1, 1924.—V.
143,
p. 1566.
accumulations
the
on
New York Merchandise Co.,
to
Inc.—$1 Extra Dividend—
The directors have declared an extra dividend of $1 per share in addition
the regular quarterly dividend of 50 cents per share on the common
stock,
no par value, both payable Nov. 2 to holders of record Oct. 20.
A stock dividend of 20% was paid on July 24, last; an extra cash dividend
of 50 cents per share was paid on March 2, last, and an extra of 12cents
per share was distributed on
New York
May 1, 1935.—V. 142,
p.
4349.
Telephone Co.—Earnings—
Period End. Aug. 31—
1936—Month—1935
1936—8 Mos.—1935
Operating revenues.-—$15,771,050 $15,422,119 $131716,434 $124719,195
71,919
95,616
538,691
645,492
Operating expenses
10,980,182
11,314,574
90,329,178
90,263,085
Operating taxes
2,081,898
1,655,389
16,423,974
13,261,306
Uncollectible oper. rev._
Net operating income.
$2,637,051
$2,356,540 $24,424,591 $20,549,312
-V. 143, p. 1889.
Nonquitt Mills—Balance Sheet Dec. 31Assets—
1935
1934
Liabilities—
1935
1934
Accounts payable.
$279,756
$375,519
_sur$ll,835
4,447,873
$253,294
4,701,167
$279,756
4,980,924
$427,519
5,408,442
Prepaid insurance.
$4,701,167
4,980,924
Land and buildings
to be sold
250,000
$23,016
50,000
912,590
Reserve for taxes.
18,357
y Surplus
2,512,067
12,527
$4,447,873
machinery
Inventories
$2,904,104 $2,904,104
323,459
211,908
Accts. receivable..
$4,459,708
The income account for the year ended June 30, 1936 in detail follows:
Operating profit for the year ended June 30, 1936, before providing for
depreciation, &c., as under, $426,549; executive officers' salaries, $55,440:
directors' fees and expenses, $3,510; legal fees, $4,838; bank interest, $5,55l;
balance. $357,208; income from investments, $6,022; interest on notes re¬
ceivable, $5,750; cash profit for the year, before providing for depreciation,
$368,981.
1933
$793,048
831,719
924.977
1,278,039
1,363.375
1,311.105
1,153.923
1,148,592
1,249,223
1.579.183
1.435.896
1,467.626
1,403,181
$253,294
52,000
.
1934
$984,596
988,901
1,562,651
1,300.759
1,707,159
1,935,038
prof$l 1,835
Dividends.
Prev. cap. & surplus
1935
$993,887
1,053,897
1,335,358
1,565,392
1,612,224
1,680,633
1,583,747
1,657,871
Land, buildings &
loss
$957,659
June.
New River Co.—SI .50
7.
Total
July
August
September—V. 143, p. 1566.
National Investors
Oct.
Deficit
$957,659
1936
$1,086,449
1,207,599
1,334,294
1,780,122
1,937,089
April
May
with interest against each and all of the three defendants.
announced
1,194,850
190,624
498,358
$924,610
Capital stock...
Paid in surplus
The directors have declared
Amount of Assessment Reduced to $251,667—
Fred Y. Presley, President, says in letter to stockholders dated Oct. 7:
You were informed by letter of May 19, 1936 of the report of the referee
in the action commenced in 1932 in the New York
Supreme Court, Rich¬
mond County, by Florence W. E. Richards, as executrix of the last will
was
e
$13,989
7,175
3,794
1,200,000
190,624
457,923
con ting...
Brothers, Inc.—Sales—
January
February
$2,478,271 $2,078,460
a Market value,
cost being $5,474,379 in 1936 and $5,414,874 in 1935.
b Cost being $236,320 in 1936 and $269,788 in 1935.
c After deducting
81,800 shares of common stock and purchase warrants for 7,200 shares of
National Investors Corp. reacquired and held in tresuary, at
and testament of
$924,610
-
insurance
d Preferred
291,232
18,468
579,809
Res. for
1934
$27,106
10,387
wages pay.
dAcc.exps
1
March
2,425
N. Y. C. excise tax
Prov.
5,400
Acc. &
4,536
Month of—
companies
$1,976,239 $1,632,763 Prov. for N. Y.
Cash
State taxes
46,647
96,358
b Other investm'ts
405,675
399,050 Prov. for Federal
1935
Liabilities—
*
$27,016
20,263
16,332
a Including
accrued interest,
b After reserve,
c After
reserve
for
depreciation of $629,231 in 1935 and $524,984 in 1934 and after reserve for
revaluation of $677,423 in 1935 and $733,3)6 in 1934.
d Including state
and local taxes,
e Represented
by ] 19,485 no par shares in 1935 after
deducting 515 shares in treasury and 120,000 no par shares in 1934.—V. 143,
p.1239.
1.50
Total
Net assets applicable to pref. stock ($110 plus
accrued dividends of $20,625 per share)
$1,940,826
Net assets applicable to common stock
527,494
1934
6,233
Deferred charges..
$28.43
$400,111
$2,468,321
8,265
$228,496
1
Total
1.39
12,720
$196,521
1935
Patents
$77,641
20,693
Increase for period—before dividend:
Net income per income account
Profit per security profits account
10,929
$162,778
$22,699
20,263
51,161
284,939
10,284
529,028
U.S.Gov. bonds.
a
c
$139.20
52,095
Balance Sheet, Dec. 31
Assets—
Other assets
$2,068,210
1932
$26,977
184,232
62,975
$41,594
Cash
Pref. Stock
Total
Net assets, as reported at Dec. 31,1935
1933
$2,786
133,505
53,082
Cr3.1k6
Loss
Per Share
Decrease in unrealized loss
114,455
51,885
Other deductions
'
1934
$16,181
115.934
1935
$121,620
exps.. '
Inventory
Change in Net Assets 9 Months Ended Sept. 30, 1936
11,000
132,500
Co,—Earnings—
Calendar Years—
Gross profit from oper..
$283,970
investments,
reported
Increase
450,000
...
143, p. 2218.
nominal values of
Increase in
as
$20,693
$129,802
694,790
Unfilled orders Oct. 1
Loans
•
Taxes
$320,600
871,888
Shipments quarter ended Sept. 30
Total shipments, Jan. 1 to Oct. 1
—V.
Expenses
the
Previously
stock, payable Oct. 23 to holders of record Oct. 10.
9,600
16,339
Cash
Total
y
13,803
.14,669
Notes payable
Res've for deprec'n
$912,591
1,927
2,479,966
250,000
$3,516,031 $3,394,485
Represented by 48,000 shares of
Total..
$3,516,031 $3,394,485
no par common stock.—V.
143, p. 765.
Oahu Sugar Co., Ltd.—Extra Dividend—
The directors have declared an extra dividend of 20 cents per share in
addition to the regular monthly dividend of like amount on the common
Volume
stock,
Financial
143
Chronicle
$20, both payable Nov. 14 to holders of record Nov. 6. A similar
extra will be paid on Oct. 15, next, and was
paid on Sept. 15, last, and
compares with extra dividends of $1.20 per share paid on Dec. 14, 1935
and on Dec. 15, 1934 and an extra of 30 cents distributed on Dec.
15 and
Nov. 15, 1933.—V. 143, p. 2062.
par
Ohio Associated
Operating
1936—Month—1935
$58,697
$53,721
revenues-,...
Uncollectible oper.
Ozark
$456,494
605
Operating expenses33,133
Operating taxes
5,302
32,115
3,232
'264,345
35,997
$17,769
$154,100
,
Net operating Income.
-V. 143, p. 1725.
$20,058
Uncollectible
Pacific Gas & Electric Co.— Underwriters Named—
The company on Oct. 8 filed an amendment to
oper. rev..
Operating expenses
Operating taxes
1966, giving underwriters and allotments
Blyth & Co., Inc
Brown Harriman & Co., Inc
$131,394
follows:
as
.$7,700,000
4,300,000
Edward B. Smith & Co
$770,351
$715,763
$6,430,688
4,300,000
First Boston Corp
C
-
Bonbright & Co., Inc
H. M. Byllesby & Co., Inc...
2,100,000
-
E. H. Rollins & Sons, Inc
Bancamerica Co
Mitchum Tully & Co
$5,700,685
4,300,000
3,150,000
3,150,000
2,100,000
;
Lazard Freres & Co., Inc
Dean Witter & Co.—
•
Net oper. Income
—V. 143, p. 1410.
Oklahoma
its registration statement
for the issuance of $35,000,000 1st & ref. mtge. bonds, series I, 3j^%, due
1936—Month—1935
1936—8 Mos—1935
$3,249,383
$2,978,861 $25,731,385 $23,531,663
9,089
1,581
55,165
47,537
1,992,078
1,872,136
15,607,315
14,774,999
477,865
389,381
3,638,217
3,008,442
m m
'
'
~
Initial dividend of 25 cents per share on
an
Dec. 15 to holders of record Nov. 30.
-
Period End. Aug. 31—
Operating revenues
WVAUg 1UV UllUuOai
mm
declared
-
30,341
Telephone Co.—Earnings—
yf
nave
the common stock, payable
$419,760
4,723
253,302
2,052
rev--
Corp.—Initial Dividend—
The directors
1936—8 Mos.—1935
204
Ohio Bell
The New York Curb Exchange has removed from unlisted trading
privileges the "A" convertible preference stock, no par, and the "B"
common stock, no par.—V, 143, p. 1726.
Telephone Co.—Earnings—
Period End. Aug. 31—
2381
Outboard Motors Corp.—Removed from Unlisted Trading
Elworthy & Co
Natural
Gas
Co.—Admitted to
William Cavalier & Co
Brush Slocumb & Co
Listing and
Registration—
Schwabacher & Co
The New York Curb Exchange has admitted to
listing and registration
the 1st mortgage bonds, series A,
4>£%, due May 1, 1951 (interest dates
—V.
M.-N.) and the 5% convertible debentures
M.-N.).—V. 143, p. 2220.
due
1,
May
dates
Onomea
1946
a dividend of 3234 cents per share on account
$1.30 cumulative first preferred stock, no par
value, payable Nov. 2 to holders of record Oct. 15.
A like payment was
made on Aug. 1 and May 1, last, and compares with 20 cents paid on Feb.
1 last, and on Nov. 1 and Aug. 1, 1935, this latter being the first payment
Sugar Co.—Extra Dividend—
Dec. 20, 1935 and 60 cents per share
1935
per
1933
1932
$1,895,322
1,485,462
$1,462,001
1,354,198
$1,839,435
1,433,758
$1,462,554
1,465,533
$409,859
83,680
$107,803
129,264
$405,677
104,225
def$2,979
107,377
$493,539
123,743
$237,067
51,413
$509,902
109,737
$104,398
17,291
$369,796
(18)450,000
$185,654
(12)300,000
$400,165
(15)375,000
$87,107
(12)300,000
Oper. & market exps...
May 1, 1932 when a regular quarterly dividend of 3234 cents
paid.—V. 143, p. 1241.
was
Corp.—Subsidiary Dissolved—
The company has notified the New York Stock Exchange that its wholly
1934
Profits from sales
share
the
on
Pacific Western Oil
Dec. 20, 1933.
on
accumulations
made since
Nov. 6 and the regular
monthly dividend will be disbursed on Oct. 20 to
holders of record Oct. 10. An extra dividend of
40 cents was paid on Aug. 20,
on
Co.—Accumulated Dividend—
The directors have declared
of
The directors have declared an extra dividend of 20 cents
per share in
to the regular monthly dividend of like amount on the
capital
stock.
The extra dividend will be paid on Nov. 15 to holders of record
Calendar Years—
-
143, p. 2063.
Pacific Public Service
(interest
addition
last; $1.20
2,100,000
300,000
300,000
300,000
300,000
300,000
300,000
-
owned operating subsidiary, the Pacific Western Oil Co., was dissolved on
Aug. 29, 1936, and its properties transferred to the Pacific Western Oil
Corp.—V. 143, p. 1087.
1
.
Balance
Other income.
Total
Miscall, deductions—.
x
Net income
Dividends
paid
Assets—
ii
,
Deficit
Package Machinery Co.—Balance Sheet Dec. 31, 1935—
„
$80,204
^
x
Royalties receivable
Inventories
_■
,
Non-curr. invests. & recelvs..
$212,893
$114,346 prof$25,165
b Plant &
?
Assets-
1935
1934
Patents
Crops..
Personal and trade
4,426
438,800
6,458
438,800
Reserve
922
2,467
634,919
Territorial
Inventories of supp
Accrued Interest.
_
Personal and trade
accounts
Stocks owned
Deferred items
resources
15,625
852,404
accounts
28,916
2,317
2,904 x Capital stock
2,500,000
Surplus account._
778,171
745,423
$3,453,273 $3,373,621
598.
a
was
elected
143,
p.
are
Calendar Years—
deprec. and Fed. taxes
Surplus
Previous surplus
on
-
sale of bonds
a
highly
x$116,l03
34,000
$122,826
34,229
$70,237
121,504
$82,103
119,620
2,150
$88,597
30,323
def$51,267
81,590
$10,415
y71,174
Pantepec Oil Co. of Venezuela—To Be Added to List—
$196,622
$119,620
ance
$30,323
15,000 additional shares of common stock, $1 par.
Registration of the
shares to be added to the list on notice of issuance became
effective, under
$81,590
the Securities Exchange Act of 1934, on Sept. 28, 1936.—V. 143, p.
Arrived
as
follows: net sales, $1,596,026; cost of sales, $1,263,947;
profit from operations, $332,079; selling, advertising and general ex¬
penses,
$215,303; net profit from operations, $116,776; other income,
$22,565; total income. $139,341; provision for Wisconsin State and Federal
income taxes, $23,238; giving net profit of
$116,103.
y Adjusted.
Balance
---1935
pay.
standing
136,586
125,915 Accrued expenses.
debit
$546
1934
Pearson
8,269
4,588
14,128.
purchases
Federal taxes
13,456 x Capital stock
21,875 Earned surplus
23,181
562,092
29,000
562,092
196,622
119,620
deferred
charges
4,328
10,335
(at cost).
(at cost)
y
Good-will,
Total.
x
115,210
114,097
100,000
100,000
$790,711
Represented by
$731,999'
Total
$790,711
$731,999
pref. stock, authorized and issued 25,000 shares
(no par), of which 8,000 shares are neld in the treasury; common
stock,
authorized 100,000 shares (no par), of which 70,000 shares are issued and
outstanding and 25,000 shares are reserved for conversion of the pref.
stock,
y After reserve for depreciation of $145,099 in 1935 and $136,055
in 1934.—V.
142, p. 1481.
conv.
Outlet Co.—25-Cent Extra Dividend—
The directors have declared ain extra dividend of 25 cents
per share in
addition to the regular quarterly dividend of 50 cents
per share on the com¬
mon stock, no
par value, both payable Nov. 2
A similar extra
dividend was paid on Aug. 1,
on
Aug. 1, 1934.
Month
1936
of—
January
February
An extra of 50 cents
p. 282.
was
to holders of record Oct. 21.
May 1 and Feb. 1 last, and
paid on May 1, 1934.—V. 143,
1935
1934
.$13,964,419 $12,924,114 $12,440,233
13,692,430
12,040,899
11,741,901
16,282,456
15,511,ol4
16,4 '4,080
19,759,157
17,591,998
15,475,133
-
-
-
20,639,831
21,474,807
16,976,710
17,934.548
15,919,033
1933
$8,689,376
8.455,073
10,234,073
14,591,329
17,084.631
14,431,647
16.796.586
14.628.193
13,967,193
16,131,402
19,988,602
13,557,830
14,211,719
16.288,141
George Dickie Ogden, Vice-President in charge of traffic died
on Oct. 4.—'
-
-
-
July
August
September
—V. 143, p. 1726.
pats.,
department.
(J. C.) Penney Co., Inc.- -Sales—
June
146,146
1890.
Co., Inc.—Registers with SEC—
See list given on first page of this
April
&
trade marks, &c.
/
May
146,146
Land, bldgs.
machinery
p.
Mining Co., Ltd.—Registers with SEC—
March
7,035
18,240
Pref. (treas.) stock
143,
See list given on first page of this department.
$2,571
expenses &
Invests,
Shainwald,
Patrician
1935
Prov. for State and
394
Value of life insur.
Prepaid
Accounts payable.
'
1241.
Companies, Inc.—New President—
who becomes Chairman of the Board.—V.
Payroll orders out¬
balance
on
Liabilities—
,
$48,649
accts.
recivable
Ad vs.
1934
Paraffine
W. H. Lowe, Vice-President and general manager for a number of
years,
has been elected President of the organization, succeeding R. S.
Dec. 31
$91,467
Inventories
Accis.
Sheet
190,351
132,478
Customers'
number
The Boston Stock Exchange has approved the listing on notice of issu¬
and for registration under the Securities Exchange Act of
1934, of
""766
gross
Assets—
a
City Bank Farmers Trust Co., as trustee, has drawn by lot for
redemption on Nov. 7, 1936, at 105% and accrued unpaid interest? $139,=
000 pricipal amount of 20-year sinking fund mtge. bonds, series A, 6%,
due Oct. 1, 1950.
Holders should present drawn bonds for payment at the
principal office of the bank, 22 William St., New York, on and after that
date.—V. 143, p. 1410.
2,951
Cash in bank
Co.—Con¬
Panhandle Eastern Pipe Line Co.—Bonds Called—
$29,422
19,007
reserves
Surplus, Dec. 31
x
Transport
The
Unemploy. fund contrib.
in 1934
Excess tax
&
accounting suit filed in the New York Supreme Court Oct. 5 by Robert
Black, nolder of 300 shares of common stock of Pan American Petroleum &
Transport Company.
The plaintiff charges that the defendants. since 1925,
have put through various mergers and other financial transactions detri¬
mental to the Pan American and advantageous to themselves to the extent
of many millions of dollars.—V. 143, p. 1410.
1932
1933
Petroleum
John D. Rockefeller, Jr., more than 100 other individuals, and
interest,
Dividends.--.--...-..
Loss
1934
'
cars,
an
2063.
1935
8,423
of corporations, banks and stock brokerage firms are named defendants in
Oshkosh Overall Co.—Earnings—
Net profit after
were
American
Pan
vacancy.
Following the meeting Robert Levy stated that current sales
satisfactory.—V.
$1,334,803
spiracy Charged—
elected President of that
stockholders, Wallen J. Haenlein
fill
Total
cars by the company established records
by Alvan Macauley, Ptesident.
against 3,043 for September, 1935, and 7,190
cars for August, 1929, the best previous month.
Shipments were 10,161,
compared with 3,692 for September, 1935, and 7,828 for April, 1935, the
previous record.
Sales in the first 20 days of September amounted to 8,008 cars.
Mr.
Macauley said unfilled orders amounted to 13,335 cars.—V. 143, p. 1568.
He succeeds James C. Bolger who was forced to retire
The title of Chairman of the Board will be dispensed
with and duties of that office will be assumed
by Mr. Levy.
At the annual meeting of
to
45
as
Deliveries
company on Oct. 7.
because of ill health.
director
$1,334,803
sinking fund
6,417
22,120
was
Sinking fund reserve
in September, it was announced on Oct. 6
Oppenheim, Collins & Co?, Inc. New President—•
Levy, Chairman of the Board,
Common stock
Surplus
Sales, shipments and deliveries of
tax
Robert D.
7% cum. pref. stock
c
7,507
34,868
9,100
Res. for terr. excise
p.
Reserve for contingencies
Packard Motor Car Co.—Sales Set Recrod—
29,809
"
income
tax accrued
$3,453,273 $3,373,621
Total
Represented by shares of $20 par.—V. 143,
23,445
16,552
15,772
120,000
261,500
723,340
94,148
Reserve liabilities
voted by stockholders Jan. 22, 1936.
x After reserve for bad debts of
$21,628.
b After reserve for depreciation
of $375,312.
c Represented by shares of no par value.—V. 141, p. 1941.
2,500,000
77,651
taxes.-----.--.
Capital stock tax.
x
$80,000
-
Accrued expenses
Note—Above balance sheet is after giving effect to retirement of preferred
stock in
Fed'l
Total
Notes payable
Accounts payable
1
Total
Unpaid checks
for
$53,463
308,062
1,362
5,851
358,004
162,698
373,837
2,997
63,888
4,637
$ 17,548
13.575
Payroll
123,249
36,548
91,546
1934
$11,311
26,279
587,209
98,045
34,604
71,439
1,748
-
Patents pending.
Goodwill
1935 ^
Unsettled labor.-.
506,397
Adv. to planters—
Store account
Cash
Liabilities—
$1 444,488 $1,449,519
equipment
Prepaid expenses
Comparative Balance Sheet Dec. 31
Properties
Accts. & notes receivable
Int. accrued on notes rec
Includes Federal and all otner taxes.
x
Liabilities—
Cash
18.475,110
19,368,510
22,529,128
_
-
-
17,885.331
18,805.973
Pennsylvania RR.—Obituary—•
V. 143, p. 2221.
Peoples Drug Stores, Inc. —Sales—
Month of—
January
February
1936
$1,612,984
.—
-
March-.--
.—
—,
April
May
June
July
August
September
—V.
143, p. 1726.
...
.—
...
■
1.651,507
1,587,299
1,646,717
1,695,132
1,675,602
1,732,576
1.738.271
1,683.975
1935
1934
$1,466,958
1,428,088
$1,322,136
1,558,292
1.537.720
1,561,028
1,535.173
1.450,922
1,324,034
1,336,054
1933
1.342,468
$1,310,613
1,185,279
1,268.006
1.245.704
1,242,600
1,243,098
1.652.045
1,317,587
1.335,933
1,299.963
1,239.938
1,530,609
1,335,933
1,239,938
1,547.491
1,250,116
J
Financial
2382
scheduled for Oct. 6 has been
adjourned by the U. S. District Court at Wilmington, Del., to Oct. 23.
The reorganization managers report that more than the required deposits,
or acceptances, necessary for confirmation of the plan have been received
from first lien bondholders.
The reorganization managers also report that
deposits or acceptances, or assurances of acceptance, have been received
from the holders of more than $4,250,000 of general and unsecured claims
including debentures and notes, and that it is expected that the balance of
the amount required for confirmation (approximately $1,295,000) will be
received prior to the adjourned hearing on Oct. 23.—V. 143, p. 2221.
Perfect Circle Co.—Extra Dividend—
The directors have declared an
extra dividend of 50 cents per
share on
common stock, payable Nov.
1 to holders of record Oct. 16.
The
regular quarterly dividend of 50 cents per share was paid on Oct. 1, last.
—V. 143, p. 2064.
the
Philadelphia Baltimore & Washington RR.—Abandon¬
amount of all classes of
Philadelphia Co. (& Subs.)—Earnings—
[Not incl. Beaver Valley Traction Co. (in receivership) and its subsidiary
1936
1935
$50,176,881 $46,877,698
25,685,903
24,061,002
12 Months Ended Aug. 31
Operating revenues
Operating expenses, maint. & all taxes
177,609
$22,816,696
196,805
Net oper. lev. & other inc. (before appr. for
retir. & depl.res.
$24,668,587
Appropriation for retir. & depletion reserve
7,025,614
$23,013,502
6,955,980
Netoper.rev. (beforeappr. for retir. & dep. res..$24,490,977
Other income (net)
Gross income
-
Rents for lease of properties
.
——$17,642,972 $16,057,521
:
990,014
991,020
6,210,463
6,93.^,463
539,242
411,912
69,192
500,000
333,333
292.397
309,852
public & min. int. of sub. & div. on pref. &
com. stocks of Philadelphia Co
$9,041,664
—V. 143, p.1891.
$7,009,748
Interest
charges (net)
—
Amort, of deot discount & expense
dividends
Guaranteed
Gas
Consolidated
on
Co.
of the City
of Pitts, pref. capital stock
Appropriation for special reserve
.
Other income deductions..
...
Net income for div. on pref. & com. stks held
69,192
by
Philadelphia Electric Co.—Bonds Called—
refunding mtg. gold bonds, 4M % series,
1 at 104)4 and accrued
Payment will be made at the Gerard Trust Co., Philadelphia,
Pa—V. 143, p. 768.
A total of $457,000 first lien and
due 1967 have been called for redemption on Nov.
interest.
Phillips-Jones Corp.—$1.75 Preferred Dividend—
A dividend of $1.75 per share has been declared on the 7% cum. pref.
stock, par $100, payable Nov. 2 to holders of record Oct. 20. A like amount
was paid on this issue in each of the twelve preceding quarters, while on
March 14, 1933, a payment of $3.50 per share was made.
Accumulations on the pref. stock, following the Nov. 2 payment, will
amount to $3.50 per share.—V. 143, P. 1412.
Pillsbury Flour Mills Co.—New President—
Hempstead has been elected President of the company to succeed
143, p. 1412.
Clark
the late H. H. Whiting.—V.
Pittsburgh Steel Co. (& Subs.)—Earnings—
of existing
x
$269,359
$1,765,906
$1,467,033
Revised.—V. 143, p. 1727.
Public Gas & Coke Co.
Public
Ltd.—Earns.
1936
$188,000
1935
$275,000
1934
$252,000
66,000
63,000
61,500
$111,000
$209,000
Expenses,
incl.
power
development costs
.
Profit
before deprec.,
deple. & taxes
143, p. 1891.
-
-
$189,000—$121,500
-V.
Potomac Edison Co.
(& Subs.)— Earnings—
$1,388,391
9,013
$1,397,404
831,715
129,710
Operating revenue
$1,564,838
Non-operating income.15,948
Gross earnings
Oper.
exp.,
4---
maint. & tax.
Reserved for R. & R
1936—12Mbs.—1935
$6,194,621
$5,813,837
43,941
33,103
$6,238,563
3,673,936
811,071
1936—3 Mos —1935
Period End. June 30—
&
$1,580,787
956,442
169,728
Coke Co.
incorp.
was
Through
1932.
in Delaware in
ownership of controlling securities it owns and operates the following
subsidiary companies:
(1) Michigan Fuel & Light Co., owning and operating gas plants and
distribution systems serving the cities of Benton
Harbor, St. Joseph,
Allegan, Plainwell, Otsego, Cadillac, Traverse City, Sturgis and South
Haven, Mich.
(2) Northern Indiana Fuel & Light Co., owning and operating a gas plant
and distribution system serving the municipalities of Auburn, Kendallville
Garrett and Avilla, Ind.
Wisconsin Fuel & Light Co., owning and operating a gas plant
and
distribution system serving the City of Manitowoc, Wis.
Public Gas & Coke Co. has outstanding in hands of the public, as
Dec.
31,
of
1935, the following securities and capital obligations:
1st lien 5% collat. trust bonds, series A (secured by the pledge
of all owned stocks and bonds of the above-named subs.)
$2,556,650
168,250
108.500
143.240
61,371 shs.
subsidiary companies operating in Michigan, Indi¬
4H% serial secured notes
434 % debentures
7% preferred stock ($100 par)
Common stock (no par)
The debtor now owns
ana
and Wisconsin.
The Michigan and Indiana properties are fairly
contiguous, but the Wisconsin property is located at some distance from
the other
properties.
The Michigan property alone contributes over
60Li£Lpfi;he operating revenues of the system.
Its fixed assets comprise an
equal percentage of all fixed assets.
The communities served by it are,
in part, both residential and industrial.
It was believed that to a sub¬
stantial degree future prospects for the system depended on the develop¬
ment of the Michigan property.
The possible effect of the Public Utility
Holding Company Act of 1935. requiring the integration of public utility
companies, was duly considered.
During the consideration of the prob¬
lems involved, H. W. Briggs approached the officers of debtor with the
proposal that National Gas & Electric Corp., a corporation which lately
had been completely reorganized and which owns subsidiary companies
operating gas plants and systems, one of which is in the State of Michigan
and would lend itself to unified control and operation with the properties of
the Michigan subsidiary of debtor, might be merged with debtor into one
system.
National Gas & Electric Corp. owns, also, other subsidiary companies
having substantial properties in the State of Ohio serving natural gas to
industrial and domestic consumers, as well as manufactured gas to other
localities.
It was believed that if some fair plan of exchange of securities
of National Gas & Electric Corp. could be made for the securities of debtor,
it would solve many of the problems of reorganization and afford to the
creditors and stockholders of debtor a more constructive and satisfactory
solution of their problems, than the officers and board of directors of debtor
were able to propose at the time the previous plan was submitted.
With
this in mind, continued negotiations have been under way with National
Gas & Electric Corp. and have resulted in an offer by this corporation of
the exchange of its securities for the securities of debtor, which forms the
basis of this amended plan of reorganization.
National Gas & Electric Corp.—Corporation was incorp. in August, 1927,
in Delaware and through subsidiaries furnishes manufactured gas to Coldwater, Grand Haven, Hillsdale and Monroe, Wis.; Winchester and Harrison¬
burg, Va.; Statesville, N. C,, and Brookfield and Kirksviile, Mo.
Natural
gas is supplied through subsidiaries to various industrial plants at Zanesville, Cooksville and Cambridge, Ohio.
Domestic service is rendered to
Greeley, Colo., and to a part of the City of Newark, Ohio. Co, has lately
been reorganized under Section 77-B of the National Bankruptcy Act and
under such reorganization has outstanding the following capitalization:
1st
lien
coll.
trust
bonds,
20-year 5%, series A,
$1,836,750.
$1,536,750
x2,753,323
Capital stock of National Gas & Electric Corp. is held by three voting
trustees, namely: Arthur H. Gilbert, Marcus L. Baxter and Edward G.
Ricker, under the provisions of a voting trust agreement, dated April 15,
less treasury bonds, $331,500
Common shares ($10 par)
1935.
Its duration is for a period of five years from date, unless sooner
by written direction of the registered holders of voting trust
certificates representing 51 % in number
under the voting trust agreement.
1933
$183,000
77,000
Month of Sept.—
Gross earnings
Gas
terminated
Pioneer Gold Mines of British Columbia,
exchange
Michigan
x
xl934
xl935
1936
Years Ended June 31—
Net loss after deprec., deplet., taxes &
other charges
securities has now been deposited so as to assure
early consummation of the plan.
The plan provides for the
securities of Public Gas & Coke Co. and its subsidiary,
Fuel & Light Co., for securities of National Gas & Electric Corp.
an
(3)
Sept. 18 issued a certificate
permitting abandonment by the Company and abandonment of operation
thereof by the Pennsylvania RR., lessee of a part of a branch line of railroad
extending from a point near Landenberg, Pa., to a point nortn of Thompson.
Del., approximately 3.44 miles.—V. 143, p. 934.
on
Micl.gan
A plan
Fuel & Light Co., its subsidiary, has been submitted to the U. S. District
Court for the Western District of Michigan Southern Division.
A sufficient
ment—
The Interstate Commerce Commission
10, 1936
Public Gas & Coke Co.—Reorganization Plan—
of reorganization (as amended) for the company and
Peoples Light & Power Corp.—Hearing Adjourned—
The hearing on the plan of reorganization
Oct.
Chronicle
$5,846,940
3,391,851
612,282
Treatment of
to
of shares of stock then deposited
Securities Under Plan
Holders of the present outstanding securities of debtor will be entitled
receive securities of National Gas & Electric Corp. upon surrender of
existing securities of debtor in transferable form in the following amounts:
(a) First Lien 5% Collateral Trust Bonds, Series A—Each $1,000 bond, ac¬
companied by all interest coupons appertaining thereto, maturing on and —
after Dec. 1, 1935, will be entitled to receive $300 of first lien collateral
trust bonds, 20-year 5%, series A, of National Gas & Electric Corp.,
dated Aug. 1, 1933, maturing Aug. 1, 1953, with int. from Feb. 1, 1936,
and voting trust certificates representing 40 shares of the common stock
(par $10) of National Gas & Electric Corp.
(b) 4Si% Serial Notes—These notes are secured by the deposit of an
equal principal amount of notes of Wisconsin Fuel & Light Co.
Subject to
the approval of the Court, the officers of debtor have entered into an
agreement with the holders that they
will be entitled to receive $18,996
cash, $16,785 of first lien collateral trust bonds, 20-year 5%, series A of
Aug. 1, 1953,
with int. from Feb. 1, 1936, and voting trust certificates representing 2,238
shares of the common stock (par $10) of National Gas & Electric Corp.
(c) 4H% Debentures—The holders of each $1,000 debenture, with all
unpaid int. appertaining thereto, will be entitled to receive at his election
10 % in cash or voting trust certificates representing 20 shares of the common
stock (par $10) of National Gas & Electric Corp.
(d) Purchase Contract—This sum ($3,500) represents a balance due on
the purchase of certain real estate and office building at South Haven,
Mich., now occupied by Michigan Fuel & Light Co.
The purchase is a
favorable one and will be assumed by National Gas & Electric Corp. or
such other company as it may designate.
(e) 7 % Preferred Stock and Common Stock—The holder of each share of
7% preferred stock of debtor shall be entitled to receive 5% of the par
amount thereof in cash or voting trust certificates representing one share
of common stock (par $10) of National Gas & Electric Corp.
The holder of each share of common stock of debtor shall be entitled to
in
National Gas & Electric Corp., dated Aug. 1, 1933, maturing
Gross income
Interest
on
$435,978
213,194
3,510
$454,615
207,996
1,970
funded debt.
Interest—other
Amort, of disc. & exp___
Pref. div. of subs
35,779
17,318
Miscellaneous
3,267
7,280
Net income
$198,321
$193,218
102,972
102,972
Preferred
dividends.,..
3,267
5,469
'
$1,723,555
833,460
11,503
94,641
13,068
31,329
$1,842,806
855,214
19,506
$739,552
411,889
$859,702
411,889
67,149
13,709
27,522
Balance..
$95,349
$90,246
$327,662
$447,813
Note—Earnings shown for the year 1936 are before deduction of the
on undistributed profits.—V. 143, p. 284.
Federal surtax
Prudential
Balance
Inc.—Condensed
Investors,
Sept. 30 *36 June 30 *36
Assets—
a
$
$
Inv.U.S.G'vt Sec
Bonds
Preferred
Common
979,575
265,777
stocks 9,191,849
stocks
Sept. 30 '36 June 30 '36
Liabilities—•
505,625 b Bank loans—sec.
1,129,290 Due for securities
bought
271,744
8,144,743
Cash in banks—de¬
mand
Comparative
Sheet—
deposits..
34,486
Accts. receivable._
Due for secur. sold
1,125
99,889
255,723
113,625
4,329
Acer'd Int. receiv.
17,741
15,853
Furnit. & fixtures.
1
$
750,000
'
700,000
69,444
c Res. for taxes
35,134
Accrued int. pay'le
1,016
d Capital stock
6,000,000
55,760
69,444
23,900
189
1
Total
Market
10,590,447 10,440,935
value
of Sept.
and
surplus
Total
6,000,000
capital
3,734,852
3,591,641
10,590,447 10,440,935
1936, was $12,966,783, as of June 30,
1936, $11,713,549, taxable cost as of Sept. 30, 1936 was $11,404,310, as of
June 30, 1936, $il,015,935.
The estimated Federal normal income tax
a
as
30,
applicable to the unrealized appreciation of the investments amounted to
$234,370 at Sept. 30, 1936 and to $104,642 at June 30, 1936.
No com¬
putation has been made of Federal Surtax on undistributed profits or Fed¬
eral excess profits tax. if any, with respect to such unrealized appreciation.
b As of Sept. 30, 1936, investments having'a market value of $1,886,840
were pledged as collateral to secure bank loans in the amount of $750,000
bearing interest at the rate of 1H% Per annum, maturing Oct. 19, 1936,
and Oct. 21. 1936.
c No reserve has been provided with respect to possible Federal surtax
on undistributed profits.
,
d Represented by 46,296 shares preferred stock and 510,540 shares com¬
mon stock, all of no par value.—V. 143, p. 2065.
receive voting trust certificates and (or) scrip represenitng one-fifth of a
share of common stock (par $10) of National Gas & Electric Corp.
Claims for Federal income and other taxes shall be paid in cash by
debtor out of funds in its possession, in
by the
Pref. stk. div. pay.
Oper.
,
such amounts as shall be approved
Court.
1
Michigan
Fuel
&
Light
Co.
(Subsidiary)
j
Michigan Fuel & Light Co., the majority of the capital stock of which
having power to vote for the election of directors ,is owned by Public Gas &
Coke Co., has outstnding as of Dec. 31, 1935 the following securities
and capital obligations:
1st mtge. 6% bonds, series A,
1950
Due Public Gas & Coke Co
dated June 1, 1925, due June 1,
$2,402,500
835,252
Unliquidated claims, approximately—
Cum. pref. stock, 7% div. series, 8,500 shares ($100 par)
Common stock (4,800 shares no par stated value)
Treatment of
50,000
850,000
240,000
Securities Under Plan
securities of Michigan Fuel will be
National Gas & Electric Corp. as follows:
Holders of the present outstanding
entitled to receive securities of
(a) First Mortgage 6% Bonds, Series A—The holders of each bond of
$1,000 accompanied by June 1, 1932 and all subsequent interest coupons,
$300 of first lien collateral trust bonds, 20-year
will be entitled to receive
5%, series A, of National Gas & Electric Corp., dated Aug. 1, 1933, ma¬
turing Aug. 1, 1953, with interest from Feb. 1, 1936, and voting trust
certificates representing 40 shares of the common stock (par $10) of National
Gas & Electric Corp.: Provided, however, that any of said bonds owned by
Public Gas & Coke Co., now pledged as security for its own bonds, like
treatment of which is heretofore given in the amended plan of reorganiza-
Volume
Financial
143
tion, shall not participate in this distribution.
The holders of all bonds
will be entitled to receive 12% in cash on account of interest since June 1,
1932.
Any holder who has previously received payments on account of
such interest shall have the amount so received deducted from such 12%
cash payment.
(b) Unliquidated Claims—Each $1,000 of unliquidated claims, upon such
claims being established and allowed in the reorganization proceedings,
will be entitled to receive voting trust certificates representing six shaees
of common stock (par $10) of National Gas & Electric Corp.
(c) Preferred Stock—The holder of each share of cumulative preferred
stock, 7% dividend series, shall be entitled to receive voting trust certifi¬
cates and (or) scrip representing three-tenths of one share of the common
stock (par $10) of National Gas & Electric Corp.
Provided, however, that
any shares of preferred stock owned by Public Gas & Coke Co., treatment
of which is heretofore given in the amended plan of reorganization, shall
not participate in this distribution.
Claim for Federal income and other taxes shall be paid in cash by Michigan
Fuel out of funds in its hands in such amounts as shall be approved by the
Court.
Customers deposits and trade creditors shall be paid in cash or
assumed by the company acquiring the assets of Michigan Fuel & Light Co.
Means
"From Dec. 2, 1935, to Sept. 30,1936,
The amended plan of reorganization and the plan of reorganization shall
be executed by the transfer, subject to the approval of the court and of
such governmental
agencies and commissions as are required
Corp., free and clear of all obligations (except
provided) of all of the interest of Public Gas & Coke Co. in Wisconsin
Fuel & Light Co. and Northern Indiana Fuel & Light Co.; the transfer to
National Gas & Electric Corp., or to such company as it may designate, of
all interest of Public Gas & Coke Co. in its furniture and fixtures, special
deposits, cash and indebtedness due from subsidiary companies (other than
indebtedness due from Michigan Fuel & Light Co.) and of all interest
of Public Gas & Coke Co. in the real estate and office building at South
Haven, Mich.; the transfer to the Michigan subsidiary of National Gas &
Electric Corp.. or to such other company as it may designate, of all of
the assets of Michigan Fuel & Light Co. (subject to accounts payable in
the sum of $37,317, accrued taxes and insurance in the sum of $3,176. and
customers* deposits in the sum of\$30,647 and subject to adjustment to
date of transfer for charges in ordinary course of business) against the issu¬
ance by such acquiring company of such securities as
may be authorized
by the Michigan Public Utilities Commission and approved by the Court;
the cancellation of the indebtedness from Michigan Fuel &
Light Co. to
Public Gas & Coke Co., the cancellation of the shares of common stock of
Michigan Fuel & Light Co. and the dissolution of this company.
The above transfers to National Gas & Electric Corp., or its
subsidiary
or nominee, of securities, assets and cash as above set forth shall be
subject
to all costs, expenses and allowances of
reorganization of debtor and Michi¬
gan Fuel, in such amounts as shall be approved by the Court.
Such other
means shall be employed for the execution of the amended
plan and the
plan as may be approved by the Court.
(Present) common
a
preferred stock approximately equal to that of four shares of present
stock.
Using this ratio to deter nine relative values, a basis of
exchange is used which will provide a stock structure wherein the book
value of all stock including common is equal to approximately $100 per
share after giving effect to the probable retirements of properties involved
in the forthcoming abandonment of ferry service by Key System and the
substitution of through all-rail service to San Francisco via the San Fran¬
cisco-Oakland Bay Bridge."
j
The following tabulation sets forth the present capital structure and
the proposed:
second
common
Present
1935
1934
1933
Authorized
$668,866
$686,047
Authorized
Net oper. income
494,128
$161,257
3,216
Gross income
Interest on funded debtInt. on unfunded debt..
Deprec. of plant & equip.
Amort .of debt disc.& exp
Net loss.
$174,738
$164,473
168,280
1,846
36,823
8,041
Non-operating income..
487,657
In recommending the plan
$266,981
3,030
$174,818
168,280
2,116
29,995
8,041
$200,892
43,661
8,041
$270,012
168,280
2,503
45,946
8,041
$33,615
$21,155
sur$45,241
79
$50,519
Consolidated Balance Sheet
Assets
as at
168.280
2.064
Dec. 31, 1935
Liabilities—
.$4,739,335
Funded
or
long-term debt
51,381
Notes & accts. receivable (net)
Merchandise
Prepaid taxes, insurance, &c..
Other assets
Deferred charges
Accrual for legal expense.....
60,696
Special deposits
Accounts
payable...
$3,152,750
1,000
54,431
107,814 Current obligations due within
one year
85,359
8,821 Accrued liabilities
38,388 Consumers, &c., deposits
72,557 Unadjusted credits
Preferred stock—company...
Subsidiary companies
Common stock—company
North. Ind. Fuel & Lt. Co..
Minority interest in surplus...
Earned deficit
x
Total.
........... .......
to stockholders President Lundberg states
ing that no unforeseen development may affect the earnings available
therefor, it will be my recommendation that dividends on the new common
stock be declared at the initial annual rate of $1 per share, payable at
quarterly intervals," he says. "It is hoped to make the plan effective and
to cause the first quarterly dividend to be paid, within the present cal¬
endar year."
Earnings for the year ended June 30, 1936, were $456,737. This sum,
under the reclassified stock structure, would be available as follows:
Dividends on 42,000 shares preferred, at $6 per share.---- —
$252,000
Applicable to 140,700 shares of (new) common (equivalent to
$1.45 per share)
204,737
--
$456,737
Consummation of the plan is subject to the approval of the holders of
at least
majority of each class of stock, and a special stockholders' meeting
has been called for Nov. 5, 1936, at which time the plan will be voted
upon.—V. 143, p. 1089.
a
Remington Arms Co., Inc. (& Subs.)—Earnings—
Earnings for 6 Months Ended June 30, 1936
.$5,164,353
...
Capital surplus
Total...
...
...........
236,150
140,548
41,042
396
143,240
120,460
613,706
2,719
34,553
41,022
664,377
......$5,164,353
Combined surplus at Dec. 1, 1933 and surplus resulting from reorgani¬
zation.—V. 140, p. 2875.
x
Pressed Steel Car Co,-—Rights to Subscribein accordance with an agreement dated Sept. 21,
1936, between General
American Transportation Corp. and t/ie "committee for the protection of
preferred stockholders of Pressed Steel Car Co, ' as a supplement to the
plan of reorganization of Pressed Steel Car Co., dated Dec. 23, 1935, as
amended and modified, holders of 7% preferred stock of Pressed Steel Car
Co. of record
at the close of business on Oct. 8. 19o6, will be offered the
right to subscribe for 5% cumulative convertible first preferred stock of
$5 par value of Pressed Steel Car Co., Inc. (Pa.) to the extent of 37-100ths
of a share for each share held, at $5
per share if exercised on or before Dec. 7,
1936, at $7.50 per share if exercised thereafter and on or before April 6,
1937, or at $9 per share if exercised thereafter and on or before Oct. 8,
1937.
Subscription warrants will not be issued.
Forms for subscription
and assignment of rights will be mailed to stockholders.—V. 14o, p. 2222.
Public Investing Co.—Registers with
expenses, depreciation,
interest and other charges.
522,411
$198,390
12,501
SEC—
See list given on first page of this department.—V. 142, p. 3689.
Outstanding
that it is his intention, if the plan is carried out, to recommend to the board
of directors the declaration of dividends on the new common stock. 'Assum¬
$789,392
489,374
'
Proposed Capital Structure
Net income after
....
Outstanding
Preferred ($100 par); $6 dividend
50,000 shs.
42,000 shs.
Common (no par) endiequity stock
150,000 shs. 140,700 shs.
The stated value on the company's books of all outstanding capital stock
will not be affected by the plan.
1932
$650,631
Oper. expenses, mainte¬
Total fixed assets (net)
Cash.
Capital Structure
$6 div. currently being paid- 50,000 shs.
42,000 shs.
2dpref. (no par); $5 div. cum. after Jan. 1,1941--150.000 shs. 115,700 shs.
Common (no par)
100,000 shs. 100,000 shs.
Consolidated Statement of Earnings 12 Months Ended Dec. 31
and taxes
$20,521.97
5.316.45
Second preferred
"The 'judgment of the market* has been the controlling factor in selecting
basis for the reclassification and indicates a market value of each share of
by law,
to National Gas & Electric
as
nance
15,828 shares of second preferred
stock and 19,608 shares of common stock have been sold on the San Fran¬
cisco Stock Exchange.
The weighted average prices of such transactions
have been:
First pref. ($100 par);
for the Execution of Amended Plan
Gross oper. revenues-..
2383
Chronicle
Earnings per share
—V. 143, p. 2223.
on
obsolescence, taxes,
$167,950
3,382,979 common shares
$0.01
—
Remington Rand, Inc.—Listing—
York
Exchange has authorized the listing of 193,429
stock (par value $25);
290,144 additional shares
$1), upon official notice of issuance pursuant to the
plan of recapitalization, making the total amounts applied for 193,429
shares of preferred stock ana 2,725.898 shares of common stock.
At a meeting held May 1, 1936, the directors adopted resolutions which
approved the plan of recapitalization dated May 1, 1936, proposed and
declared advisable an amendment of the certificate of incorporation and
called a special meeting of the stockholders to be held June 12 (adjourned
to July 14, and further adjourned to Sept. 22) to consider and act upon
the plan.
At the latter adjourned meeting the plan was authorized by the
The
shares
of
New
of
Stock
preferred
common
stock (par
stockholders
•
There will be attached to the newly authorized preferred stock, stock
purchase warrants entitling the holders to purchase 1H shares of common
stock for each share of preferred stock at any time during a period of 8
years, beginning Sept. 1, 1936, and ending Sept. 1, 1944, at prices starting
at $27.50 during the first year and increasing $2.50 each year to $45 in
the eighth year.
The stock purchase warrants to be issued under a stock purchase agree¬
ment to be dated as of July 1, 1936, by and between the corporation and
the City Bank Farmers Trust Co., New York, as trustee.
Upon certain
contingencies the number of shares of common stock deliverable upon
exercise of the warrants may be increased or decreased (and securities other
than shares of common stock may become deliverable), but without in¬
crease or decrease in the purchase price specified above.
The agreement
will provide that the proceeds accruing to the corporation upon the exercise
of the warrants shall be applied by the corporation at its election to the
Surchase or redemption of outstanding preferred stocksdebt. theregistration
of to A retirement
y purchase or redemption of any outstanding funded
statement, covering the shares of common stock purchasable under the
warrants has been filed with the Securities and Exchange Commission.—
V. 143, p.
2223.
Reserve
"
—
—
Investing Corp.—$1.25 Dividend—
The directors have declared a dividend of $1.25 per share on account
of accumulations on the $7 cum. pref. stock, no par value, payable Oct. 15
to holders of record
Oct. 9.
A like payment was made on July 15, April 15
and Jan. 15, last and on Oct. 15, 1935.
Accumulations after the payment
of the current dividend will amount to $12.25 per share.—V. 143, p. 285.
Richfield Oil
Richfield
The
Co. of Calif.—Trustee in
bondholders
committee
the
and
Bankruptcy—
Richfield
unsecured
creditors committee, in conjunction with three other individual creditors of
Richfield Oil Co. of Calif., on Oct. 8 filed a petition in the U. S. District
Court at Los Angeles asking that the Richfield Oil Co. of Calif, be placed
Bankruptcy Act.
The petition also proposed a
plan of reorganization of Richfield including as a part thereof a reorganiza¬
tion of the Pan American Petroleum Co
Richfield filed an answer to-this petition and joined in asking that a
trustee be appointed for the company under 77-B of the Bankruptcy Act.
Federal Judge Wm. P. James, in whose court the petition and snswer
were filed, signed an order appointing "William C.
McDuffie temporary
under Section 77-B of the
.
Pyle-National Co.—Pays Extra Dividend—
an extra dividend of 25 cents per share in addition
quarterly dividend of like amount on the common stock,
Sept. 30 to holders of record Sept. 24.
Dividends of 25 cents per share were paid on July 1 and on April 1 last
and a dividend of $1 per share was paid on Dec. 2, 1935; this latter was the
first payment made since 1931.—V. 139, p. 2843.
The company paid
to the regular
on
trustee of Richfield.
The committees stated that it was expected that a hearing on the fair¬
of the plan would be set for some time around the middle of November.
It is understood that the committees have already secured the consent of
ness
more
Queen Ann Gold Mines, Inc.—Registers with SEC—
See list given on first page of this department.
Railway
Equipment
&
Realty
Co.,
Ltd.—Capital
Simplification—berg submitted to shareholders a plan to merge the present second preferred
and common stocks into a single end-equity stock.
The plan, which will provide the company with a thoroughly orthodox
capital structure, contemplates the reclassification of the present second
preferred and commqp shares as the endiequity stock of the company,
entitled to any earnings and assets that may remain after the requirements
of the first preferred stock shall have been met. This new end-equity stock
will be called common stock and will be without par value as are the present
as
stock, or the number of such shares authorized
or
outstanding. It is, however, renamed preferred stock, and on account
of the smaller grand total number of shares to be outstanding its relative
voting power is increased.
In commenting on the plan, President Lundberg says:
the fairness of the proposed plan.—Y. 143, p. 2223.
Antelope Copper Mines, Ltd.—Earnings—
1936
1935
424,223
Copper sales account—£1,752,289
Metal
j
£1,879,903
stocks
Total
Oper. expenses at mine,
Realization
expenses—
£1,752,289
900,968
1933
£810.110
368,402
1934
£1,376,678
79,919
£1,879,903
1,194,053
95,328
£1,800,901
1,057,608
83,643
£1,178,512
756,713
62,000
31,382
29,048
31,944
24,274
89,947
150,000
91,549
150,000
95,347
150,000
18,070
105,000
150,000
3,067
Crl7,481
Crl0,295
London administration &
other expenses
Aint. pay. in respect of
copper
quota allocat'n
Debenture interest-
of stock have been used
the basis of reclassification, which is as follows:
Each share of second preferred stock will become one share (new) common.
Each share of commoD stock will become H share (new) common.
The plan does not contemplate any change in the preferences or priorities
of the present first
preferred
Roan
Years End. June 30—
The final step toward completion of the simplification of the stock
structure of the company was taken Oct. 5 when President Alfred J. Lund-
second preferred and common.
The relative market values of the two classes
than two-thirds of the bondholders and creditors to the plan proposed.
The next important development in the Richfield matter will probably be
the hearing on
Depreciation reserve.-_
Reserve against holding
in
Govt, securities
Interest receivable
Reserve
for
Rhodesian
Northern
taxation.-
Deb. stock red.
General
reserve.
reserve
Profit for period
'
Cr5,581
j
103,500
29,900
200,000
65,500
28,300
82,500
9,250
£181,087
£236,420
£305,440
£53.205
Financial
2384
1935
1936
£1
Proper, (nominal).
Expend, on devel.
(Capital stock
&
equip, of prop¬
erties, at cost.— 4,932,419
4,905,209
1
Invest, (less res.).
Materials & suppl.
199,322
Metal stocks
643,514
234,234
463,926
43,554
1,053,695
13,986
888,294
1935
1936
Liabilities—
|
£1
£1 ,557,945 £1,557,570
6% deb. stock (se¬
cured).
1 ,441,800
General reserve. — 2 ,298,990
Deprec. res. acct..
514,301
_
356,466
58,200
147,445
Profit & loss acct.
Total
1,471,700
2,098,802
456,355
8,261
180,112
208,986
Deb. stk. red. res.
Casb
Debenture interest
unclaimed—
Res. for taxation..
Sundry cred.& res.
Prov. fordlv. No. 1
Sundry debtors, &c
Total
£6,772,506 £6,505,651
reported by the audit of S. D. Leidesdorf & Co. for the period from June
4, 1936, to July 31, 1936, shows a net loss after depreciation but before
expenses of reorganization proceedings except those actually charged, of
$4,825. This figure too is affected by changes which may occur due to the
reorganization proceedings and should not be regarded as any final indicator
for the future.
A complete review of the operation and management of the
Huyler's stores is now being considered in an effort to improve their earnings.
It is hoped that this work may tend to improve operations sufficiently to
have a bearing upon the claims against the corporation on the guaranties,
should such claims be allowed in the reorganization proceedings."
The committee also reports upon the results of operations of Schulte
Retail Stores Corp. and subsidiaries for the period from June 4, 1936, when
the reorganization proceedings began to June 30, 1936 and states that
according to the report of S. D. Leidesdorf & Co. accountants appointed
by the court a loss of $37,429 after depreciation but before provision for
Federal income taxes and expense of reorganization proceedings not actually
charged was shown.
The letter comments on this report and suggests that
the loss "must be considered in the light of the economies in expenses of
management and operations which may be expected in connection with the
reorganization proceedings, and which were only partially reflected in the
June figures and should not be taken as any final indicator for the future."
The time to file claims against Schulte Retail Stores Corp. and its sub¬
sidiaries which are joined in the reorganization proceedings now expires
Oct. 15, 1936.—V. 143, p. 770.
8,469
134,415
185,735
241,481
28,300
322,824
£6,772,506 £6,505,651
—V. 143, p. 1728.
Rochester Gas & Electric
All of the outstanding series B 7 %
Corp.-—Pref. Stock Called—
preferred stock have been called for
on Dec. 1 at $105 per share and accrued dividend.
Payment
will be made at the Lincoln-Alliance Bank & Trust Co., Rochester, N. Y.
redemption
-—.V. 143, p. 2224.
Rockwood & Co.—Dividend
Arrearage Plan Voted—
Stockholders on Sept. 28 approved a plan whereby accumulated divi¬
dends amounting to $14 a share as of Oct. 1, 1936 on the 8% cum. pref.
par $100, will be eliminated.
Under the plan, preferred stock¬
7-10ths shares new 5%
preferred stock, $100 par, and 1 share new no par common stock.
Pay¬
ments will be made on Nov. 1 to holders of record Sept. 28.—V. 142, p. 2683
stock,
holders will receive for each share held $7 in cash, 1
St. Lawrence Flour Mills,
Years Ended. Aug. 31—
Net operating profit;
Directors' fees
Officers' remuneration.
$162,064
5,000
5,000
31,584
2,428
Bond interest
Legal fees
1934
1935
$210,628
_
3,857
25
37,726
$75,213
40,250
24,000
$90,579
40,250
18,000
Years End. Aug. 31—
Dividends received
Rents receivable
225
34,706
13,768
$107,675
40,250
36,000
$73,748
40,250
18,000
Transfer
$31,425
435,079
Profit and loss balance
x
$32,329
395,471
tarial
$437,902
$427,800
1936
Other receivables.
Inventory
Accrued
int.
$9,547
209,368
51,892
258,326
Prepaid insurance.
3,412
500
$50,000
14,992
30,106
33,474
Bank overdraft...
Funds
on
deposit..
Accounts payable.
Good-will, &c
Assets—
£104,517
£89,893
930,224
payable
12,000
Bonds
30^000
Contingent reserve
575,000
1,200,000
466,504
Common stock
Surplus
Total
1936
Liabilities—
1935
hold
properties-
,009,349
1,000,949
contr.
4,167
121,316
9,838
4,167
81,580
2,139
Invest. in Selfridge
Whiteley
Sundry
52,000
30,000
575,000
1,200,000
437,903
stocks
Deferred shares
rec.
fr. sub.co
Cash
8,513
43,748
7,030
71,769
14,832
23,005
Total
General
Loans for sub. cos.
on
ord. stock.
Revenue
account.
Total
£4,503,818 £4,498,268
9 Mos. End. Sept. 30—
Interest
call
on
£4,503,818 £4,498,268
Corp.
-Earnings-
1935
1936
1933
1934
loans,
168,888
$10,336
162,315
$169,085
30,694
$172,651
29,163
$200
notes, &c
The trustees have applied to the Federal Court in St. Louis for authority
39,898
383,636
13,605
58,125
10,936
426,516
16,924
57,187
10,595
Sundry creditors..
Second National Investors
-Application Made to Pay
65,000
54,135
-V. 143, p. 2067.
$2,443,746 $2,405,972
-V. 143, p. 1090.
St. Louis-San Francisco Ryv
Interest on Bonds—
25,000
reserve...
Sinking
fund
for
redemp. of debs.
Div.
of
supplies
Div.
1935
1936
shares__£3,000,000 £3,000,000
300,000
300,000
1st mtge. deb. stk_
627,068
613,461
Ordinary
Freehold and lease'
Sundry debtors.
Sept. 1, 1936...
$2,443,746 $2,405,972
2,549
17,627
common
stock
14,277
£88,093
Loans to sub. cos.
29,032
on
14,954
Shareholdings
In
subsidiary cos.-£3 ,283,882 £3,315,802
16,262
515
Income tax
Divs.
Preferred stock
Total
7,041
13,422
27,051
25,063
Balance Sheet Aug.2>\
$74,114
~2~638
209,500
733,200
177,500
716,824
930,224
..
Fixed
7,850
13,771
26,289
31,763
£56,846
1935
Unclaimed divs...
Own bonds for s.f.
Investments
1936
Bank loan
Accrd. bond int...
2,800
4,037
8,526
12,268
22,639
31,493
5,000
Balance, surplus.
Liabilities—
on
investments
8,795
12,251
15,441
30,751
5,000
secre¬
expense
debenture stock
1935
$1,679
208,969
46,909
354,803
Accts. receivable..
449
£162,470
Sinking fund for red. of
Balance Sheet Aug. 31
Assets—
639
£184,191
Debenture interest-Leasehold depreciation.
After income tax adjustment.
Cash
591
£182,297
Income tax
$404,430
1933
£120,482
41,539
1934
£129,785
53,767
569
temporary loans.
on
1935
£127,946
53,760
£144,038
fees
Management and
$15,498
388,931
$466,504
x$Previous surplus
$10,963
.426,939
1936
£87,752
55,717
Total income
Int.
Surplus.
$i.70
Selfridge Provincial Stores, Ltd. (England)—Earnings
4,350
31,968
15,332
Income tax
$119,038
Earns, per share on 34,678 participating preference shares
1571.
—V. 143, p.
~
5,145
Depreciation
Common dividends
Earnings for 32 Weeks Ended Aug. 3, 1936
$115,824
30,988
27,808
Bond premium
Baking Co.—Earnings—
Net income after expenses, depreciation, interest and taxes, and
undistributed profits taxes
1933
$146,135
3,000
30,500
3,111
912
"
Net profit
Preferred dividends
Schulze
Ltd.—Earnings-
1936
1936
10,
With regard td the claims on the guarantees concerning the $4,500,000.
of issued and-outstanding preferred stock of Huyler's the letter states:
The
corporation owns directly and indirectly over 35% of the common stock of
Huyler's, which company operates candy and soda shops and restaurants
in various cities in the East and Middle West.
Operations of Huyler's as
Balance Sheet June 30
Assets—
Oct.
Chronicle
Cash dividends
$235,571
Total income
$235,571
26,694
$197
171,512
to pay the
Sept. 1, 1936, coupon on both gen. mtge. and income bonds of
its subsidiary, the Kansas City Memphis & Birmingham RR.
There are $3,323,000 gen. mtge. 4% bonds outstanding which matured
March 1, 1934, but remain unpaid.
Semi-annual interest due Sept. 1,
1936, amounts to $66,460.
There are $3,582,000 of income 5% bonds outstanding also due March 1,
Management fee
Transfer agents',
trars'
,
1934, but unpaid on which semi-annual interest due Sept. 1, 1936, amounts
to $89,550.
The petition states that the trustees have in their hands at present
available funds sufficient to justify the payment of the interest which in
the aggregate amounts to $156,010.
Default has been made in the payment of $25,835,000 principal amount
of the 4% ref. mtge. bonds, due Oct. 1, 1936, of the Kansas
City Fort
Scott & Memphis Rv.—V. 143. p. 2224.
&
$171,712
15,537
regis¬
customdians
fees
11,798
10,797
9,211
14,072
"8",533
T, 486
12,145
1,528
6,772
$183,006
$136,846
$121,695
$123,041
Miscell. corp. expenses
Provision for taxes
Net income
Security Profits Account 9 Months Ended Sept. 30, 1936
Profit realized
on sale of securities, based on average costProvision for taxes applicable to security profits account?
Federal income tax
Salt Dome Oil
Corp.—Registers with SEC—
_
New York State franchise tax
See list given on first page of this department.—V. 143, p.
New York City excise tax
1.570.
Saltex Looms, Inc.—Tenders—
$48,203
Excess
See (Sidney) Blumenthal & Co., Inc., above.—Y. 137, p. 3736.
Savoy Plaza
Corp., New York—Plan Confirmed—
The U. S. District Court, in an order dated Aug. 11, 1936
with certain minor modifications, the plan of reorganization.
The
principal
modification
stock.
common
provides
Bondholders
for
the
to
are
issuance
of
of market value
Increase in unrealized
two
Time
Stores
Corp.—Preferred Stockholders
Reorganization—Speedy Action Stressed—
for Filing Claims Ends Oct. 15—
the
in
Committee
had
sent
a
communication
to
holders
"as the
time
when
the
amount
of claims
filed"
against
the
the company prior to your class
located
of stock.
Schulco Co., Inc., is
a
Dividends
stocks after
$93.84
$183,006
48,203
$2.22
8.88
$965,313
239,589
reserve
$11.68
2.90
preferred stock.
Increase for
30,1936
$8.78
$102.62
Balance Sheet Sept. 30
1936-
Securities
Part.
ctf.
Cash
Divs.
....
receivable..
Liabilities—
1935
$8,288,803 $7,073,750
Accrued
1936
1935
$500
$1,900
14,325
expenses.
5,650
Provision for N. Y.
in corp.
formed to liquid.
closed bank
State taxes
7,250
676,063
22,116
12,522
200,144
18,942
Prov. for Fed. Inc.
tax
N.
3,225
Y.
City excise
tax
wholly
550
Res. for Fed.
inc.
<fc State franchise
taxes
c495,000
196,000
capital stk. tax.
2,125
Cap. stock & surp.b8,478,507
to determine whether the
1,275
7,100,533
Prov.
are
% on the bonds of Schulco Co., Inc. was earned. Operating results for
the period commencing with the reorganization proceedings, June 4, 1936,
may be affected by adjustments of rentals to be paid by the Schulte com¬
panies on these properties in connection with the proceedings."
$725,723
$8,478,507
period—after dividends
Assets—
a
liability, if
on
.58
in
for taxes..
Net assets, as reported at Sept.
subsidiary of the corporation and owns 23 parcels of centrally
property principally in New York City.
It is therefore important
underlying properties owned by Schulco Co., Inc.,
earning sufficient to service these bonds as a means of determining what
any, may eventually rest upon the corporation should the claim
on
the guarantee be allowed in the reorganization proceedings.
From
figures furnished by the officers of Schulte, companies which lease the
properties of Schulco Co., Inc. it appears that for the year ending Dec. 31,
1935, approximately one-half of the full annual interest requirement of
Per Share Pref.
Stock Outstdg.
734,103
Profit per security profits account
Increase in unrealized profit on investments
of the stock
corporation "will become ascertainable draws closer."
The committee's letter. General McRoberts said, also deals with the two
principal expected claims against Schulte Retail Stores Corp.
In this
respect the letter states:
"The corporation is guarantor on $3,747,000 of
bonds of Schulco Co., Inc.
This constitutes one of the major claims against
owned
$734,103
$7,752,783
31,1935
Increase for period—before dividends:
Net income per income account
requesting their support at this time in order to assist the committee in
working out a plan of reorganization which the letter states must now be
considered
$1,528,417
2,262,520
Total
Net assets, as reported at Dec.
► General Samuel McRoberts, Chairman of the protective committee for
preferred stockholders of 8% cumulative preferred stock announced Oct. 7
that
common
profit after reserve for taxes..
Retail
Aid
in
Change in Net Assets 9 Months Ended Sept. 30, 1936
common
to
of investments
separate
receive the entire issue of
A stock ^aggregating 75% of the equity instead of
approximately
66% as previously provided).
United States Realty & Improvement Co. is
tofreeeive the remaining 25% in the form of a class B issue.
The class A
stock is to elect two thirds of the 'board of directors and the class B the
remaining one third.
One non-assenting bondholder has appealed the confirmation of the
plan.
However it is expected that this suit will be disposed of at hearings scheduled
before the Federal Circuit Court of Appeals early this month.
See also
V. 143, p.1416.
Schulte
cost
confirmed,
class
Asked
over
stocks, less reserve for taxes on unrealized profit:
As reported at Dec. 31,1935 (after reserve of $304,000)
As reported at Sept. 30, 1936 (after reserve of $495,000)
'
classes of
$52,754
3,276
1,200
75
_
for
Federal
Total
Total
$ 3,994,232 $7,305,358
$8,994,232 $7,305,358
a Cost of above securities,
$5,531,282 in 1936 and $5,844,838 in 1935.
$5 convertible preferred stock (100,000 shs. $1 par) $100,000; common
stock (300,000 shs. par $1) $300,000; capital surplus $10,200,000, total
$10,600,000, less preferred stock in treasury (17,383 shs. at cost) $866,795,
balance $9,733,204; earned surplus, $73,827; total, $9,807,031,
security
b
Volume
profits (deficit)
over
Financial
143
$3,591,045;
balance, $6,215,987;
Chronicle
of market value
excess
Stanley Gold Mines, Ltd.—Registers with SEC—
cost of common stocks
$2,757,521 (less reserve for taxes on unrealized
total, $8,478,507.
c Does
not in¬
Federal undistributed profits surtax or for Federal
profits tax.—V. 143, p. 285.
profit $495,000),
See list given on first page of this
balance $2,262,521;
clude any provision for
excess
Starrett Corp.—Removed
(L. F.) Serrick, Inc.—Registers with SEC—
State Loan
Calendar Years—
Stecher-Traung Lithograph Corp.—Dividend Increased
1936
1935
1933
1934
$26,795,274
25,030,986
Operating charges
f"
Sterling,
$1,764,288
265,863
Total income
Loss sale of securities
Depreciation
$446,249
95,126
$1,360,550
$2,030,151
41,266
1,126,226
Other income.
$541,375
$1,360,550
1,610* 801
2,232*195
$300,805
$862,659 loss$621,305 loss$250,2511oss$1931390
41,800
42,634
39,926
.___
Surplus
$862,659 def$663,105 def$292,885def$l,971316
Shares common stock (no
_
499,175
Earnings per share
498,575
498,125
$1.73
par)
Nil
Nil
.
498,125
Nil
Balance Sheet July 31
1936
Assets—
1935
Notes & accts. rec.,
after reserve
Liabilities—
Inventories
y
7%
life ins. policies.
that the purchaser shall purchase from I. & I.
Holding Corp. and pay for
36,000 shares of preferred stock of Sterling, Inc., under the terms, con¬
ditions and provisions of the said
underwriting agreement, as modified, then
I. & I. Holding Corp. and E. A. Thomson each
give the purchaser an option
to purchase all or any
part of 40,500 shares of the common stock of Sterling,
Inc., making an aggregate of 81,000 shares, at the price of $2.90 per share,
for 90 days from the time when the
purchaser shall have purchased the said
36,000 shares of preferred stock from I. & I. Holding Corp.
The Exchange has also been notified that Hammons & Co., Inc., have
purchased approximately 179,000 shares of common stock to the present
Seeb
cum. pref.stk.
500,000
on contr..
77,782
47,760
(1,372,821
1
829,839
Dividends payable
666,482
555,751
Accrd.Fed.tax, &c
398,510
11,413
245,390
Obligation to retire
46,055
27,397
23,300
on sees.
preferred stock.
c524,118 z2,889,053
a Investments
2,033,866
845,862
Land, non-oper...
214,715
214,715
Deferred charges..
357,844
303,160
1
22,021,537
date under the terms of the above-mentioned
pay.—bank
(not current)... 1,000,000
Conting. res.,&c._
351,235
at cost
Good-will
b614,900
Note
Marketable secure.
Total
$
4,000,000
Notes pay. to bks.
ac¬
counts receivable
Accrd. int.
4,000,000
1,510,340 Accounts payable/
3,243,840 Payroll...
Cash surr. value of
Sundry notes &
$
Common stock..
Deposit
1,586,979
3,788,590
1935
1936
$
Land, bldgs., ma¬
chinery & equip.11,218,983 11,535,284
Cash
1,638,587
640,629
x
See list given on first
page
Studebaker
II,110
Total
common
subscription receipts for the preferred stock which will be delivered
pending authorization and delivery of the stock.
The dividend rate is to
be furnished by amendment to the registration statement.
According to the registration statement, the net proceeds from the sale
of the stock together with treasury funds will be used to repay funds tem¬
porarily borrowed and to reimburse the company's treasury for moneys
expended for the acquisition of 6,708 shares of its 6%, 6.6% and 7% pref.
stock at a cost of $648,786 (of which 6,297 shares were acquired from the
Commonwealth & Southern Corp.) and for the redemption on Jan. 1,
1937, of 79,187 shares of its 6%, 6.6% and 7% preferred stock at a price of
$105 a share or for the purchase of the shares prior to that date at not more
than the redemption price. The company will also pay accrued dividends for
the full quarter ending Dec. 31, 1936, on the stock called for redemption
and will charge the amount to surplus.
The subscription receipts will be transferable until Dec. 24, 1936, and
will be exchangeable on or after Jan. 6,1937, for definite certificates for the
preferred stock.
The price to the public, the names of the underwriters, the underwriting
or commissions, and the redemption provisions are to be furnished
by amendment to the registration statement.—V. 143, p. 2226.
discounts
RR.—Acquisition—
The Interstste Commerce Commission on Sept. 14 approved the ac¬
quisition by the company of the Biola branch of the Frenso Traction Co.
—V. 139, p. 612; V. 140, p. 986.
Southern Ry.—Earnings—
Wk. of Sept.
1935
Jan. 1 to Sept. 30
1936
1935
$2,832,033 $92,622,629 $78,957,990
—V. 143, p. 2226.
Spencer Chain Stores, Inc.—Common Dividend—
Directors have declared a quarterly dividend of 15 cents per share on
the common stock, payable Oct. 31 to holders of record Oct. 15.
An
initial payment of like amount was made on July 31, last.—V. 143, p. 2226.
Standard Gas & Electric
Co.—Weekly Output—
Electric output of the public uility operating companies in the Standard
Gas & Electric Co. system for the week ended Oct. 3, 1936 totaled 104,303,527 kwh., an increase of 18.9% compared with the corresponding week last
year.—V. 143, p. 2226.
Standard Plastics
Corp.—Stock Offered—Leigh Chandler
Co., Inc., on Oct. 8 offered by means of a prospectus,
22,300 shares of capital stock, ($1 par) at $1.50 per share,
which it has purchased from the company under firm
&
commitment.
Corporation
organized in New Jersey on Sept. 21, 1936, for Die
general purpose, among others, of developing, producing and selling plastic
products and materials and for the specific purpose of exploiting, under
assignment, a plastic material known as Alphide, made under a secret
process and formula developed over a period of about nine years.
Alphide
is believed to be the only truly cold moulded plastic and being self-heating,
requires no application of heat or pressure.
It is composed of low priced
chemicals, pigments and waste material, the supply of which is bountiful,
and, in addition to being fireproof, moisture proof, rust proof, vermin-proof
and non-corrosive, it resists many acid? and withstands alcohol and hot
was
water.
Capitalization of the company consists of an authorized 75,000 shares of
of which 50,000 shares are issued and outstanding.
The
company has no funded debt and no current debt except approximately
$1,000 covering obligations on the appointment of a registrar and transfer
agent, printing, legal and incidental expenses.
The company is at the present time obtaining bids on required machinery
and equipment and it is expected that all machinery and equipment neces¬
sary for the production of about 250 gross of the company's product a week
will be installed by about the first week in November.
capital stock,
trucks
p.
last
month
any month since
Company shipped
with 2,197 in
compared
2068.
1936—9 Mos.—1935
1936—Month—1935
$435,969
$345,965
$3,830,203
1
$2,734,598
stock, both payable Oct. 15 to holders of record Oct. 10.
A dividend of 25 cents per share was paid on July 15 last, this latter being
the first distribution made since Oct. 15,
1930, when a dividend of 25 cents
per
share
was
also paid.—V. 143, p. 1576.
Sunshine Mining Co.—New Director—
Joshua Green has been elected
resigned.—V.
143,
p.
a
director in place of Frank Eichelberger,
2227.
Superior Oil Co.—Application Approved—
and
1936
.
The directors have declared an extra dividend of
\2]4 cents per share
in addition to the regular
quarterly dividend of 25 cents per share on the
7 filed with the Securities and Exchange Com¬
registration statement (No. 2-2536 Form A-2) under the Securities
covering 85 895 shares ($100 par) cumulative preferred stock
$3,467,966
Up—
September than in
Sundstrand Machine Tool Co.—Extra Dividend—
Ry,—Ferry Abandonment—
—Fourth
in
1930 19345
Period End. Sept. 30—
Act of 1933
(est.)
and
cars
Sales
Southern Indiana Gas & Electric Co.—Files with SEC—
Period—
Gross earnings
cars
—V, 143, p. 1894.
The company on Oct.
Southern Pacific
1248.
Sun Ray Drug Co.—Sales—
The Interstate Commerce Commission Sept. 14 issued a certificate per¬
mitting abandonment by the South Pacific Coast Ry. of the ferry across
San Francisco Bay between San Francisco and Alameda, approximately
three miles, all in the city and County of San Francisco and Alameda
County, Calif., and abandonment of operation thereof by the Southern
Pacific Co., lessee.—V. 142, p. 2844.
a
passenger
September, 1935 —V. 143,
After
par shares,
mission
more
March, 1929. according to Paul G. Hoffman, President.
24,065,7681
p.
of this department.
Corp.—Shipments
Studebaker shipped
2,221,751
South Pacific Coast
agreements.—V. 143,
Sterling Aluminum Products Inc.—Registers with SEC—
621,559
Earned surplus... 14,821,188 17,194,906
22,021,537 24,065,768
depreciation and amortization,
y Represented by 500,000 no
z Quoted market value July 31, 1935 was $1,117,935.
a In¬
cludes 825 shares in 1936 (1,425 in 1935) of
company's common stock
carried at cost of $42,183 in 1936
($72,862 in 1935).
b Obligation to
retire 5,590 shares of 7% cum.
pref. stock at $110 per share,
c At quoted
market value.—V. 143, p. 2226.
x
Inc.—Underwriter Agreement Modified—
The company has notified the New York Curb Exchange that the under¬
writing agreements dated March 18, 1936, have been modified by sub¬
sequent agreements between the parties thereto to provide in substance
(a) That the time for the purchaser to take up from and pay the company
for all or any part of the then undelivered 4,000 shares of its
preferred stock
is extended to and including the seventh
day after demand by the company;
(b) That the time for the purchaser to take up from and pay I. & I. Holding
Corp. and E. A. Thompson for all or any part of the then undelivered 36,000
shares of preferred stock and 280,000 shares of common stock of the com¬
pany is extended to and including the seventh day after demand by I. & I.
Holding Corp. and E. A. Thomson; (c) That all the rights, powers and
privileges in said underwriting agreements contained, permitting the pur¬
chaser to terminate said
agreements, are waived, except the purchaser's
right to terminate the agreements upon the payment of the liquidated
damages therein provided; (d) That the obligations of the purchaser and
of E. A. Thomson and I. & I.
Holding Corp., as provided in the said under¬
writing agreements shall relate and be limited to 199,000 shares of the
company's common stock instead of 280,000 shares thereof; and (e) provided
$300,805
1,162*680
Net income
Preferred dividends
-x
The company paid a dividend of $1 per share on the common stock, no
par value, on Sept. 30 to holders of record Sept. 28.
A dividend of 50
cents per share was paid on June 30 last.—V.
142, p. 1659.
(A. O.) Smith Corp.—Earnings—
Net sales.
Co,—Registers with SEC—
See list given on first page of this department.
Inc.—Registers with SEC—
See list given on first page of this
department.
,
department.
from Listing—
The New York Curb Exchange has removed from listing the common
stock, $1 par, and the preferred stock, $10 par.—V. 143, p. 2226.
See list given on first page of this
department.
Seward Mines,
2385
The
Los Angeles
Stock Exchange has approved the application of the
company to list 82,634 shares of preferred stock,
shares of common stock, $25 par.
$25
and 287,902
par,
(James) Talcott, Inc.—To Increase Capital—Plans First
Offering of Common Shares—
Public
The company has arranged for a substantial increase in its capital through
the sale of 100,000 shares of its common stock, the offering to be the first
public participation in the company's common shares since the founding of
the business, 82 years ago.
It is expected that a registration statement will
be filed shortly with the Securities and Exchange Commission.
The new
offering will be made by F. Eberstadt & Co., Inc., who marketed 30,000
shares of the company's 5H % partic. pref. stock last February.
This financing has been deemed advisable to provide additional funds
in view of the company's expanding business.
Volume of business for the
nine months of the current year was $59,851,000, an increase of 20% over
—the corresponding period of 1935.
Total volume for last year was $68,162
010, as compared with $29,302,748 for 1930.
Operations of the company,
originally confined to textiles, have meanwhile broadened out to include
shoes, gloves, rubber goods, fuel oil and a number of other industries.
—V. 143, p. 1895.
-
(G.) Tamblyn, Ltd.—Stock Offered—An issue of 88,000
common stock (no par) was offered Oct. 3 at $16
per share by Cochran, Murray & Co., Ltd.; Stewart, Scully
Co., Ltd.; W. C. Pitfield & Co., Ltd.; Mills, Spence & Co.,
Ltd.; H. B. Housser & Co.; Mara & McCarthy, and Midland
Securities Corp., Ltd.
Of the offering 20,000 were sold
abroad, the balance being offered in the Canadian market.
shares of
These shares have been purchased from the estate of Gordon Tamblyn,
deceased, from an investment company, control of which is held in New
The offering of these shares does
York, and from other shareholders.
not represent any new financing by G. Tamblyn, Ltd.
Capitalization—
Authorized
5 % cum. redeemable preference shares ($50 par)_
6,000 shs.
112,000 shs.
1 sh.
112,000 shs.
Issued
Common stock (no par)
*
Deferred stock (no par)
*
To Be Issued
6,000 shs.
1 sh.
The deferred share has
no monetary value, does not participate in earnings
be cancelled upon the payment of $1 after Jan. 31, 1938.
While
outstanding, this share has the right to elect one member of the board of
and may
directors.
Transfer agent: Chartered Trust and Executor Company,
Toronto.
Registrar: Canadian Bank of Commerce, Toronto.
Business—Company operates a group of 62 retail drug stores in the
Province
of
Ontario.
The
business
was
founded
in
1904
and
has
been
expanded to its present size largely through the re-investment of surplus
earnings.
In 1914 the number of stores had increased to nine; in 1921 to
18; in 1926 to 32; in 1931 to 54 and in 1936 to 62.
Company carries a
complete line of drugs, medical supplies and allied products, together with
other merchandise usually carried by drug stores, and operates modern
prescription dispensaries in every store.
Assets—As of Aug. 31, 1936, net tangible assets, exclusive of good will,
and after deduction of the 5% preference shares at their callable price
amounted to $803,907 which is equivalent to $7.17 per common share.
Net
current assets alone amounted to $594,503, which is equivalent to more
than $5.30 per share.
Earnings—Net
as
earnings
available
for
$156,430
share
dividends,
1933-.-
common
were
follows:
1929-
141,964
160,153
114,480
1932...
Earnings
as
■
«.
mm
—
—
—
$102,639
-*3©
91,651
114,358
above averaged $1.12 per share of common stock.
Earnings
1935, were equivalent to $1.02 per share
for the fiscal year ended Dec. 31,
of common stock.
Financial
2386
Net earnings for the
eight months' period ended Aug. 31, 1936, show a
against a similar period last year of $22,837 before taking into
$9,913 profit on securities sold in 1936.
The management
believes that earnings available for dividends on the preference and common
decrease
shares for the year
ending Dec. 31, 1936, will exceed $105,000.
Dividends—A dividend of 80 cents has been declared for the ensuing 12
This dividend will be payable quarterly, the first payment of
20 cents per share to be made on Jan. 1, 1937.
months.
Initial Common Dividends—
The directors have declared
on
the
an initial quarterly dividend of 20 cents per
stock, payable Jan. 2, 1937.—V. 142, p. 4193.
common
10,
1936
Third National Investors Corp.- -Earnings9 Mos. End. Sept. 30—
on
call loans,
1933
1934
1935
1936
Interest
Cash
$8,261
$136
$82
&c
notes,
dividends
$186^552
139,652
136^596
139,980
Total income
$186,552
20,597
$139,734
11,880
$136,732
23,888
$148,241
24,180
7,495
Management fee
Transf. agents', registr'rs
9,539
8,441
8,650
& custodian's fees
Miscell. corp. expenses-
6,753
6,281
9,398
1,362
8,380
$147,766
$112,660
$99,068
$104,920
......
-
Provision for taxes
Net
Tampax Incorporated—Registers with SEC—
See list given on
income
first page of this department.
—
Security Profits Account, Nine Months Ended Sept. 30, 1936
$339,880
Loss realized on sale of securities, based on average cost
Tennessee Electric Power Co.—To Sell New Issue—
,/•
Oct.
as
consideration
share
Chronicle
Application by the company for authority to issue and sell $4,728,500
additional 1st & ref. mtge. gold bonds, 5% series, due on June 1, 1956, has
been approved by the Federal Power Commission, subject to certain terms
and conditions intended, the Commission said, to protect consumers and
of market value
Excess
stocks, less
reserve
over
cost
for taxes
of investments in common
unrealized profit:
on
$585,196
1,616,174
As
reported at Dec. 31, 1935 (after reserve of $117,000)---As reported at Sept. 30, 1936 (after reserve of $280,000)
investors.
'
The
applicant proposes to sell the new bonds to Commonwealth &
(parent company) under an agreement by which the latter
public, if a more favorable market develops,
paying to the applicant all profits from the resale, and, if the securities
cannot be resold at a profit, absorbing all losses.
Tne approval is made
Increase in unrealized profit after reserve for taxes
$1,030,977
Southern Corp.
Change in Net Assets, Nine Months Ended Sept. 30,
will resell the securities to the
Per Share
Total
$6,066,761
Telluride Power Co.—Accumulated Dividend—
accumula¬
of record
Sept. 30. Similar payments were made in preceding quarters. Arrearages
after the above payment amount to $12.25 per share.—V. 142, p. 4193-
Thalhimer Brothers Realty Corp.,
Richmond, Va.—
Bonds Offered—Galleher & Co., Richmond, Va., are offering
$1,000,000 1st mtge. & leasehold bonds, 4^%, 4%%, and
5%.
The 43^2% bonds are offered at prices ranging from
100 to 103.88, according to maturity and the 4%% and 5%
bonds at par.
1,
cause
to be lent to the lessor
on
that date such
sums as
it may
need to pay the remaining principal; the term of the lease, moreover, will
continue until such principal is fully paid.
The maturities are as follows: (a) $250,000 4H% bonds, mature $25,000
semi-annually April 1, 1937 to and including Oct. 1, 1941.
(b) $250,000
4%% bonds mature $25,000 semi-annually April 1, 1942 to and including
Oct.
1, 1946.
The $500,000 5% bonds mature $25,000 semi-annually
April 1, 1947 to and including April 1, 1951, and $275,000 on Oct. 1, 1951.
—V. 128, p. 3015.
-
Third Avenue Ry.
(& Subs.)—Earnings—
Years End. June 30—
1936
1935
1934
1933 '
Operating rev.: RaUway$10,782,314 $10,561,805 $10,652,259 $10,990,511
Bus
2,747,752
2,534,226
2,548,896
2,695,402
*
Totaloper.revenues$13,530,066 $13,096,032 $13,201,155 $13,685,913
Oper. exp.: Railway..
7,607,764
7,587,136
7,563,821
7,625,011
Bus.
2,422,348
2,207,735
2,182,579
2,484,173
Total oper.
expenses$10,030,113$9,794,871
3,174,549
2,974,669
325,403
326,490
Net oper. rev.: Railway.
Bus.
Total oper. revenue $3,499,953
-----—
—
Total taxes
Oper. income: Railway.
Bus
Total oper. income.
Non-oper. inc.: Railway
Bus
Total non-oper. inc.
Gross income: Railway.
Bus
.
Total gross income.
Deductions: Railway
Bus
$3,301,160
1,040,182
143,377
$3,454,755
810,504
86,753
[,576,727
$1,183,559
1,934,486
183,113
$897,257
2,277,933
279,563
$920,822
2,530,192
125,712
$2,170,458
448,071
10,177
$2,117,600
445,057
9,442
$2,557,497
332,053
9,681
$2,655,905
320,960
9,907
$458,249
2,476,975
151,732
$454,500
2,379,544
192,556
$341,734
2,609,987
289,245
$330,868
2,851,153
135,619
$2,628,708
2,572,358
184,652
'
1,145,645
183,848
$1,329,494
2,028,903
141,554
Taxes: Railway......
B us
59,746,400 $10,109,185
3,088,438
3,365,499
366,316
211,228
$2,572,100
2,557,280
183,268
$2,899,232
2,555,993
186,210
$2,986,773
2,567,862
197,791
$2,740,549
$2,742,204
53,993
103,034
$2,765,654
283,291
loss62,172
835.306
1,030,977
6.16
$838,863
$5.01
on common
192,367
Balance Sheet Sept.
1936
1935
closed
1936
1935
Provision for N.Y.
State taxes
Accrued
liquid.
bank....
receivable-
or
loss: Railway
Bus
$2,757,011
loss95,383
loss32,919
lossl77,736
9,287
Total combined net
income or loss, railway
and bus
*
loss$128,302 loss$168,449
251,875
314,220
130,133
120,765
$157,028
431,050
231,168
$221,118
458,704
414,240
650
.
375
1,625
1,075
taxes..'
c280,000
Cap. stk. & surp..a6,713,257
31,000
5,548,749
Res.
for
Fed.
inc.
& State franchise
$7,004,183 $5,586,9241
Total
$7,004,183 $5,586,924
Total
a
Common stock (220,000 shs., par $1), $220,000; capital surplus,
$10,148,502; total, $10,368,502; less common stock in treasury (52,724
shs. at cost), $1,158,000; balance, $9,210,501; earned surplus, $61,672;
total, $9,272,173; security profits (deficit), $4,175,090; balance, $5,097,084;
excess of market value over cost of common stocks ($1,896,174, less reserve
for taxes on unrealized profit, $280,000), $1,616,174; total, $6,713,258.
b Common stocks at market value cost $4,891,054 in 1936 and $5,233,175
in 1935.
c Does not include any provision for Federal undistributed profits
surtax or for Federal excess profits tax.—V. 143, p. 287.
Tide Water Associated Oil Co.—Deal by Tide Water
Acquiring Terrabella Properties Denounced and Defended—
The
acquisition by company of the Terrabella Investment Co. (an¬
VI 143, p. 2228) was denounced and defended Oct. 6 by in¬
nounced in
terested officials.
J. Paul Getty, who
has
a
heavy interest in the Pacific Western Oil Corp.,
which holds shares of Tide Water Associated, described as "extremely in¬
advisable" the proposal to exchange 230,000 Tide Water common shares
Terrabella capital stock and assets.
"I believe that the adoption of this policy will result in a ponderous
capital structure, which will be detrimental to the best interests of the
stockholders," said Mr. Getty.
In reply, Tide Water's management asserted that the transaction would
give that company valuable interests in the Kettleman North Dome
Association, which controls 8,200 acres of land in California.
"In the opinion of directors of Tide Water Associated," said the statement,
"it was considered a most desirable purchase, particularly as it increases
the company's oil reserves in California."—V. 143, p. 2228.
Tintic Standard Mining Co.—Pays
Larger Dividend—
The company
paid a dividend of 12H cents per share on the common
Sept. 30 to holders of record Sept. 16.
This compares
with 7H cents paid on June 30 and March 31 last; 15 cents paid on Dec. 24,
1935; 7Yi cents paid in each of the three preceding quarters; 22 H cents
aid on Dec, 24, 1934; 10 cents on Sept. 29. 1934; 7H cents paid on June
0 and March 31, 1934, and 5 cents per share distributed each three months
previously.—V. 142, p. 2005.
stock, par $1,
on
Tri-State Telephone & Telegraph
Co.—Preferred Stock
Called—
All outstanding shares of 6%
preferred stock, par value $10, have been
called for redemption on Dec. 1, 1936 at $11 per share, plus all dividends
accrued to that date.—V. 143, p. 2229.
Trutonophone,
Inc.—Registers with SEC—
See list given on first page of this department.
Twin States Gas & Electric Co. (&
Subs.)
12 Months Ended Aug. 31—
«f 1935
$2,282,065
73,002
,
$2,364,835
103,028
Maintenance.
All taxes
-Earnings—
,1936
192.379
210,366
257,619
1,269,490
276,360
1,037,169
$542,318
3,653
$685,165
2,828
$545,971
234,235
32,145
29,990
$687,993
236,765
$249,600
171,850
77,625
$382,934
171,850
77,625
$125
including Federal income
Other operating expenses
Non-operating income—net.
Incl. deprec.: Railway.
Bus
$4,300
1,800
$8,275
expenses
6,871 N. Y. C. excise tax
49,454 Prov. for Federal
18,360
capital stock tax
3,978
195,852
17,125
Cash
Dlvs.
$40.13
30
Liabilities—
36,787,228 $5,512,238
Partic. ctf. in corp.
formed to
$3.86
stock.
Increase for period—after dividends
b Securities
1.15
$646,496
$6,713,257
Dividends
$133,459
.
Total deductions...
Net inc.
$.88
Increase in unrealized profit on investments in
Assets—
1936.
Interest and principal payable semi-annually
A. & 0.1, at office of Central National Bank of Richmond, trustee.
Coupon
bonds in denom. $1,000, $500, and $100.
Registerable as to principal
only. Redeemable in whole or in part at the option of the company on any
interest date on 30 days' prior notice, to and incl. Oct. 1, 1941, at 101
and interest, and thereafter at 100M and interest.
If only a part is re¬
deemed, the bonds to be redeemed are to be selected by lot.
Security—Bonds are to be secured by a closed indenture of mortgage or
deed of trust to be dated as of Oct. 1, 1936.
The mortgaged property is
to consist, in minor part, of real estate owned in fee by Thalhimer Brothers
Realty Corp. and, principally, of (a) leaseholds owned by that corporation
and improvements thereon (subject in part to certain prior encumbrances
and defects) and (b) all furniture, trade fixtures and equipment now owned
or hereafter acquired during the term of the bonds and situated and used
in or on said real estate.
The mortgage property has been appraised as of
Sept. 1, 1936, by John W. Bates and John Sloan of Real Estate Appraisal
Co. of Richmond, Morton G. Thalhimer and Lee Paschall, all of Richmond,
at $2,031,564.
,
„
Thalhimer Brothers, Inc., are to accept a lease for the mortgaged property
extending to the final maturity date of the bonds, at a rental sufficient to
pay all charges, including interest on the bonds and all instalments of prin¬
cipal, except $250,000 maturing on Oct. 1, 1951.
The lease will obligate
the lessee to
D/-2.03
Increase for period, before dividends:
The company paid a dividend of $1.75 per share on account of
on the 7% cum. pref. stock par $100 on Oct. 1
to holders
tions
Oct.
Outstanding
$36.27
$147,766
Dr339,880
conditional upon fulfillment of this agreement.—V. 143, p. 2069.
Dated
1936
Bond interest
Other interest
Other deductions.
34,383
33,910
Consolidated Balance Sheet June 30
1936
A oq/j/q——.
1935
$
1936
Liabilities—
$
1935
$
Railroad &
equip.74,874,823 75,809,370 Third Av. Ry. stk.16,590,000 16,590,000
Sinking funds
504,914
473,495 Control, co's stock
168,400
168,400
x Fd. debt
Dep. for matured
(bds.)—
► coupon interest.
644,185
645,069
/3d Ave Ry Co.49,526,500 49,526,500
Misc. special dep.
Controlled cos.. 4,329,000
289,385
366,037
4,329,000
Deprec. & conting. 2,277,687
2,352,025 Accts & wages...
410,747
333,307
Depos. with State
Interest-matured &
►
Indust. Comm'r
888,223
722,368
unpaid
644,185
645,069
Cash.
960,689
1,260,450 Interest accrued..
62,980
62,976
Accts. receivable..
184,115
421,873 Taxes accrued....
498,129
575,112
Materials & supp.
Int on adjustment
718,453
710,166
Miscell.investm't. 2,590,076
mtge bonds
2,231,169
11,606,040 10,974,640
Unexp. ins. prem.
134,391
158,541 Reserve for deprec
Unamort. debt dis.
other reserves.. 6,550,238
841,919
863,845
6,307,007
Miscellaneous
206,409
83,795 Excess of book val.
over cost of contr.
Sundry investm'ts
67,514
cos. sec. owned.
2,293,861
2,357,456
Deficit
7,497,298
5,771,261
Total
85,182,783 86,098,205
Total
85,182,783 86,098,205
x Includes
1st mtge. 5% bonds, $5,000,000; 1st ref. mtge. 4% bonds,
$21,990,550; adj. mtge. bonds, $22,536,000.—V. 143, p. 2069.
Balance
7% prior lien preferred dividend requirements
5% preferred dividend requirements
Balance
...
-V. 143, p. 2069.
Union American Investing
The
Corp.—Removal from List—
Securities and
Exchange Commission announced Sept. 28 that it
the application of the New York Curb Exchange to strike
from listing and registration the 117,184 shares (no par) common stock of
this corporation, effective at the close of the trading session on Oct. 9,1936.
Trading was suspended on Sept. 11, 1936, after the stockholders had
voted on Sept. 2, 1936, to dissolve the company, such dissolution having
been effected on Sept. 8, 1936.—Y. 143, p. 937.
had granted
Union Buffalo Mills Co.—Accumulated Dividned—
The company paid a dividend of $1.25 per share on account of accumu¬
on the 7%
cumulative dpreferred stock, par $100, on Oct. 1 to
lations
holders of record Sept. 23.
A like payment was made
on
July 1 and April
1, last, and compares with $1.75 paid on Jan. 2, last, and on Dec. 31, Oct.
31, July 2 and Feb. 15, 1934, prior to which no dividends were paid on this
issue since Feb. 15, 1930, when a regular semi-annual dividend of $3.50
per
share
was
distributed.—V. 143,
p.
606.
»
Volume
Financial
143
Union Investment Co.—Extra Dividend—
dividend of 50 cents per share on
the common stock, payable Nov. 2 to holders of record Oct. 20.
A quarterly dividend of SI per share was paid on Oct. 1 last and prior
thereto regular quarterly dividends of 25 cents per share were distributed.
In addition an extra dividend of 25 cents per share was paid on July 1 last.
The directors have declared an extra
—V.
143, p. 1895.
2387
Chronicle
Union Oil Co. of California—Earnings—
9 Mos. End. Sept.
Sales
Profit
Fed.
after
Shares
United Carbon Co.—Advances Dividend Date—
Fruit
Co.—Pact
with
America
Central
Road to
Exports—Company to Take Stock in International
Rys.—Development of Guatemala Region Seen—See Inter¬
national Rys. of Central America above.—V. 143, p. 447.
Aid Banana
Co.—Weekly Output—
United Gas Improvement
Oct. 3, 1936 Sept. 26,1936 Oct. 5,1931
of system (kwh.)—- .89,315,100
88,502,159
78,163,611
2229.
Week Ended—
Electric output
p.
Power Co. (& Subs.)—Earnings—
United Light &
1936
1935
$82,959,319 $76,137,758
38,787,522
35,953,309
12 Months Ended Aug. 31—
Gross oper. earns, of sub. &
General operating expenses
Maintenance,.
controlled cos
y
$4,400,000
Net earns from oper. of sub. & controlled cos
Non-oper. income of sub. & controlled cos
Total income of sub. & controlled cos
barrels, as compared with 23,400,000 for the nine months of 1935.
Sales
of products during the third quarter totaled 8,200,000 barrels as compared
with 7,050,000 barrels for the corresponding period of 1935.
Capital outlay approximated $5,300,000 consisting mainly of expendi¬
tures for field development and for improvements and additions to other
facilities.—V. 143, p. 446.
Union
Sugar Co. (& Subs.)—Earnings—
as
$6,747,049
203,908
50,007
Expenses of United Light & Power Co
Taxes of the United Light & Power Co.
Earnings
per
share on 100,375 common shares-
Note—Company's farming operations and
well
9,197
$3,840,848
230,039
38,646
2,318,073
Amortization of bond discount and expense
192,563
2,320,620
237,613
Balance transferred to consolidated surplus
received.—Y. 143, p.
are
$3,982,497
1936
$4,744,590
5,059,467
.
Light & Rys. Co. (& Subs.)—Earnings—
1935
1936
$73,254,931 $67,451,319
34,009,871
31,701,047
Provision for retirement
4,390,024
7,095,403
General taxes & estimated Fed. income taxes
8,211,655
earns,
Y
controlled cos. (after
Maintenance..
from oper. of sub. & controlled
Non-oper. inc. of sub. & controlled cos
3,807,834
6,410,503
7,977,051
$21,884,256 $19,130,162
Total inc. of subs. & controlled cos
13,626,539
2,106,764
13,690,423
xl,412,059
controlled cos
Income of United Lt. & Rys.
income received from subs.)
$6,150,953
&
Co.
5,032.075
4,618,455
3,412,705
4,211,153
4,356,431
' 3,452.181
5,074,651
4,667,260
5.339,695
5,230,907
5,168,319
4,742.052
4,847,541
4,700,297
4.457,291
4,440.282
4,485,908
4,467,185
June
July
August
September
-—V. 143, p. 1733.
—
Wallapai
860,264
154,663
18,417
166,441
13,435
$6,838,136
$3,853,577
1,375,000
1,375,000
42,988
42,988
$5,420,147
deductions—
5H % debentures, due 1952
Amortization of debenture discount & expense—
-
The
on
Balance transferred to consolidated surplus
Adjusted to reflect reversal
—V. 143, p. 1577.
United
---
-
x
of Detroit City
1,239,909
1,240,578
$1,195,010
Gas Co, rate reserve.
Paper board Co.—Recapitalization Plan—
19 will vote on a proposal
common stock of the corporation be changed from
120, 00 shares of the par value of $100 each to 400,000 shares of the par
value of $10 each, and that each of the 120,000 outstanding shares of
common stock of the par value of $100 each be changed into two shares
full paid and non-assessable common stock of the par value of $10 each,
thereby decreasing the capital of the corporation from $13,500,000, repre¬
sented by 15,000 outstanding shares of preferred stock (of which 1,828
shares are held in the treasury) of the par value of $100 each and 120,000
the
outstanding shares of common stock of the par value of $100 each, to $3,900,000 represented by 15,000 outstanding shares of said preferred stock
each and 240,000 shares of outstanding common
$10 each.—V. 143, p. 1731.
have
declared
First
International
Securities
Corp.—
Preferred Dividend—
directors
have declared a
on
In
an
amendment filed with
$5,000,000,
the
A like
West Penn Electric Co. (&
Subs.)—Earnings—
1936—12 Mos—1935"
$8,314,588 $36,013,290 $33,354,559
80,618
414,711
341,238
1936—3 Mos.—1935
721,217
maint. & taxes
$8,395,207 $36,428,001 $33,695,798
4,558,781
19,177,492
18,427,113
607,520
2,956,323
2,501,450
$3,636,675
Gross earnings
exp.,
SEC—
first page of this department.
Period End. June 30—
$3,228,005 $14,294,185 $12,767,233
$9,416,950
5,059,056
Reserved for R. & R
Gross income
Ded uctions—Sub. Cos.—
Int.
1,133,508
1,188,085
4,700,389
4,754,247
21,533
funded debt..._
on
22,299
56,955
91,798
221,400
2,803,839
122,238
250,000
28,866
89,338
348,607
2,804,061
121,581
62,500
62,500
250,000
3,483
13,602
27,306
75,050
$1,549,232
$1,155,580
$5,952,900
7% & 6% pref. divs
567,041
567,041
2,268,165
$4,448,658
2,268,165
Class A dividends—
103,701
103,701
414,806
414,806
Interest—other.
131,795
Amort, of disc. & exp
Preferred dividends
701,015"
701,015
33,605
Miscellaneous-.
Interest 5% debenturesOther deductions
Net
income
$878,489
$484,837
$3,269,929
$1,765,687
Note—Earnings shown for the year 1936 are before deduction of the
Federal surtax on undistributed profits imposed under the Revenue Act
of 1936—V. 143, p. 129.
Balance
—
West Penn Power Co.
(& Subs.)—Earnings—
•
Period End. June 30—
Operating revenue
Non-oper. income
-
—
Gross earnings
Op.
exp.,
maint. & taxes
15,373
61,433
15,070
$2,202,183
593,750
14,368
30,812
13,572
$9,790,002
2,206,250
59,920
167,513
51,417
$8,776,418
2,375,000
53,931
119,990
57,758
$1,549,680
477,384
$7,304,902
1,909,539
$6,169,737
1,909,539
$1,527,647
Interest—other
Miscell. deductions
income
Preferred
$4,891,566 $21,071,886 $19,408,108
2,370,668
9,948,054
9,335,068
318,714
1,333,828
1,296,621
$2,005,032
477,384
funded debt.
on
$5,607,438
2,668,245
$1,072,295
$2,589,409
Gross income
Interest
1936—12 Mos.—1935
$4,782,012 $20,568,144 $18,962,002
109,554
503,741
446,105
1936—3 Mos.—1935
$5,339,725
267,712
349,783
Reserved for R. & R
dividends
492,500
Balance
-
Note—Includes all subsidiaries except
the SEC, the corporation reduces its proposed
originally registered.
The bonds will have non-detachable
at $98.
Jackson &
stock purchase warrants, and will be offered
Curtis and John De Witt will be the underwriters.
common
The company at the same time
increased the number of convertible pre¬
ferred stock to be offered to 310,000 shares from 300,000 shares originally
The offering price of the preferred will be $12 per share.
The amended registration reduces the common shares registered to 753,000
shares copared with 770,000 shares originally filed.
Of the 753,000 shares
$5,395,363
$4,260,198
Monongahela West Penn Public
Service Co. and its subsidiaries, whose accounts are not herein
consolidated.
Earnings shown for the year 1936 are before deduction of the Federal
profits.—Y. 143, p. 1252.
surtax on undistributed
West Penn Rys.
(& Subs.)—Earnings—
(Excluding Pan Handle Traction Co.)
Corp.—Files Amendment—
4)^% serial collateral trust bonds to $4,500,000, instead of
as
record Oct. 8.
the $5 cumulative first preferred stock,
United Stockyards
offering of
dividend of 75 cents per share on
Operating revenue
$9,240,364
Non-oper. income——
176,586
Net
dividend of $1 per share on account of
no par value,
payable Nov. 2 to holders of record Oct. 26. Dividends of 75 cents per share
were paid on Aug. 1 and May 1 last.
A dividend of 50 cents per share was
paid on Feb. 1 last and on Nov. 1 and Sept. 10, 1935, this latter being the
first dividend paid since Nov. 1, 1930, when a regular quarterly dividend
oi$1.25 per share was distributed.
Accumulations after the payment of the Nov. 2, dividend will amount to
$26 per share.—V. 143, p. 1251.
The
accumulations
a
Wellington Foundation, Inc.—Registers with
Amort, of disc. & exp_._
&
States
United
of this department.
stock, par $25, payable Oct. 10 to holders of
See list given on
authorized
of the par value of $100
stock of the par value of
page
10, last, and compares with 50 cents paid on
April 15 and Jan. 10, last, and on Oct. 15, 1935; 75 cents paid each three
months from Jan. 10, 1935, to and including July 10, 1935; $1 paid on Oct.
10, 1934; $2 on July 10, 1934; $1.50 on April 10, 1934, and $1.25 per share
on Jan. 10, 1934.
Quarterly distributions of 25 cents per share were made
on Dec. 20. 1932, and March 20 and June 30, 1933.—V. 143, p. 129.
Stockholders at their annual meeting on Nov.
that
first
Deductions—W. P. El. Co.—
$4,180,238
preferred stock dividends
Balance-...„
directors
common
company
Interest
Co.—Registers with
payment was made on July
$2,435,589
v-
Balance
Prior
$4,033,454
Mining
Silver
3,982.685
4,179,750
4,216,887
4,262,172
Washington Oil Co.—75-Cent Common Dividend—
5,774
$7,011,217
Expesnes of United Lt. & Rys. Co
Taxes of United Lt. & Rys. Co
Holding
$4,027,679
&
Gold
3.643,478
SEC—
(exclusive of
Total income
1933
$3,664,964
4,248,372
1934
$4,303,469
4,079,749
4,621,245
4,641,147
Op.
Equity of United Lt. & Rys. Co. in earns, of
sub.
1935
$4,698,604
4,637,407
5,105,705
cos__$19,547,976 $17,554,882
2,336,280
xl,575,279
In., amort. & pref. divs. of subs. & controlled cos_Proportion of earns., attrib. to min. com. stk_-
prepaid expenses
4,964,907
5,155,697
See list given on
12 Months Ended Aug. 31—
campaign expenses,
April
May
$1,013,927
Adjusted to reflect reversal of Detroit City Gas Co. rate reserve,
After eliminating intercompany transfers.—V. 143, p. 1577.
eliminating inter-company transfers)
General operating expenses
sugar
1895.
Walgreen Co. (& Subs.)—Sales—
Month of—
x
Gross oper. earns, of sub. &
1936
undistributed overhead income, are carried in
as
January-February
$3,572,161
deductions: Int. on funded debt.
$107.939
$0-64
Net income after all charges
March
$3,831,650
$6,493,134
Balance
31, 1936
Earnings for 5 Months Ended May
until returns
$25,093,987 $21,558,858
16,265,032
16,318,116
2,103,575
xl ,409,090
Total income
,
.
19,915,345
Equity of United Liight & Pow. Co. in earns, of
subsidiary and controlled cos__
$6,725,380
Light & Pow. Co. (excl. of income
received from subsidiaries)
21,669
Net
$1,250,000
_
until April, 1936."
.
_
Production subject to royalty of crude oil and natural gasoline for the
nine months approximated 15,150,000 barrels as compared with 12,950,000
barrels for the same period in 1935.
The quantity sold was 22,900,000
xl,643,513
Inc. of United
United
$1,700,000
,
21,774,222
3,319,765
_
Int., amort. & pref. divs. of sub. & controlled cos_
Proportion of earns, attributable ot min. com. stk_
y
$4,000,000
out-
4,386,070
4,386,070
4,386,070
4,386,070
Earnings per share
$1.00
$0.91
$0.39
$0.28
Note—No provision is necessary for surtax on undistributed profits.
Current assets as of Sept. 30, 1936, including $11,900,000 cash, approxi¬
mated $43,600,000 and current liabilities were $7,500,000.
This compares
with cash of approximately $13,850,000, current assets of $42,200,000 and
current liabilities of $6,000,000 on Sept. 30,1935.
Funded debt on Sept. 30,
last, totaled $20,326,500.
ij
L. P. St. Clair, President, states: "The increased profits for the past
three months as compared with the second quarter and the third quarter
last year are due principally to the increased production and sales volume
together with better prices prevailing for products, gasoline prices having
been extremely low in the third quarter of 1935, and continuing thereafter
4,262,835
7,341,821
8,664,447
General taxes & estimated Fed. income taxes
company
stock
com.
8,220,073
9,283.392
4,894,109
Provision for retirement
Holding
6,100,000
4,850,000
^
Accompanying the Oct. 1 dividend payment is a notice to stockholders
stating that in view of burdensome Federal surtax on undistributed earnings
imposed by the Revenue Act of 1936, it has been decided "to advance the
date for the next quarterly dividend normally payable on Jan. 1, 1937, so
that it actually will be disbursed and paid to stockholders during the week
preceding Dec. 31, 1936."—V. 143, p. 1577.
143,
6,700,000
5,000,000
standing (par $25)---
of this department.'—V. 143, p. 1895.
See list given on first page
—V.
9,650,000
5,650,000
i
Sugar Co.—Registers with SEC—
United
$37,700,000
10,800,000
6,400,000
interest, &c
Deprec., deplt., &c
Net profit
Union
1933
30—
1936
1935 1934
$48,200,000 $47,650,000 $41,800,000
taxes,
Period End. June 30—
1936—3 Mos.—1935
1936—12 Mos.—1935
$399,424
444,629
$370,958
313,532
$1,521,424
2,050,709
$1,437,031
1,322,128
Gross earnings
Oper. exp., maint. & tax.
$844,054
Reserved for R. &R—_
18,633
$684,490
340,852
19,054
*
$3,572,134
1,418,003
76,327
$2,759,159
1,379,213
78,617
$437,030
70,862
$324,583
70,862
$2,077,804
283,450
1,168
1,884
Operating revenue
Non-operating income-.
-
388,390
registered.
\
be offered at $8; 310,000 shares will be re¬
of preferred; 135,000 shares will be reserved for
registered 308.000 shares
served
for
conversion
are to
Gross income.
Miscellaneous
5,313
4,429
14,976
$1,301,329
283,450
5,679
17,404
Net income
$360,843
$248,122
$1,777,492
$994,795
Int.
on
funded debt
Interest—other--
10 /
exercise of the warrants.
John De Witt will be the principal underwriter of the stock offering.—
V. 143, p. 1896.
—V. 139, p. 618.
2388
Financial
Western Auto Supply Co.—Sales—
r
Month of—
1935
June
2,070,000
2,540,000
July
August
September
2,743,000
2,598,000
2,265,000
———
*
1934
995,000
1,376,000
1,463,000
1,638,000
"
$870,000
882,000
1,114,000
1,137,000
1,476,000
1.886,000
1,666,000
1,946,000
2,145,000
1,459,000
1,590,000
1,835,000
1,493,000
1933
$666,862
651,000
670,000
873,000
1,156.000
1,382.000
1,316.000
The company has notified the New York Stock
Exchange that, subject
to effective registration under the Securities Act of
1933, of 24,495 author¬
ized but unissued shares of class "A" common
stock, such shares will be
offered to holders of the company's class "A" and class "B" common
stocks
for subscription at $48 per share at the rate of one share for
eight shares
held.
It is expected that the registration statement
covering the proposed
issue of additional shares will become effective on Oct.
6, 1936, and in such
event Oct. 7, 1936, will be the record date for
determining stockholders
entitled to subscribe.
In the event, however, that the registration should
on
as
a date later than Oct. 6,
1936, the record date may
such effective date.—V. 143, p. 2072.
Western Maryland
Ry.—Earnings—
—Fourth
Period—
Wk.
1936
Gross earnings (est.)
-~V. 143, P. 2230.
of Sept.
.vv
$420,812
Jan. 1 to Sept. 30
1935
1936
1935
$379,716 $11,883,457 $10,945,962
Western Pacific RR.—To Issue New
Certificates—
The trustees have asked
permission of the Interstate Commerce Com¬
mission to issue, as of Jan. 1, 1937, $3,000,000 in trustees'
certificates
to refund an
an
equivalent amount of outstanding and due on that date, and
$3,700,000 to take care of the road's 1937 improvement
Interest is to be not less than 4% and the certificates will be
due on
or
before Jan. 1, 1939.—V. 143, p. 2230.
on
posited with National City Bank, 55 Wall St., New York, as agent. Holders
of 6^% gold bonds of the
Willys-Overland Co. may procure the shares
they are entitled to receive upon surrendering their bonds with
unpaid
interest coupons attached.
/
of bonds
who
have filed
an
election to take common stock of
Willys-Overland Motors, Inc., in lieu of preferred stock of that corporation
have bad common stock issued for them.
Holders of bonds who have not
elected have bad preferred stock of that
corporation issued for them.
Any bondholder electing to take common stock in place of
preferred
so
stock may do so by
notifying the National City Bank as agent on or before
Oct. 15, at which time its option to take common stock in
lieu of preferred
stock expires.
The preferred
shares of Willys Real Estate Realization Corp. issued to
holders of 6H%. gold bonds of the Willys-Overland Co.
pursuant to the
plan of reorganization as amended and confirmed by the U. S. District
Court on Aug. 28, 1936, have been delivered to and are
available for distri¬
bution at the corporate trust department of the National
City Bank, New
York, upon surrender of the bonds, with unpaid interest coupons attached.
Appeal Denied Stockholders—;
The Sixth U. S. Circuit Court of
Appeals at Cincinnati, Ohio, has refused
Hoffman, a stockholders of Willys-Overland Co., permission
to appeal from the decision of
Judge George P. Hahn of Toledo Federal
Court which confirmed the plan of
reorganization of the company under
Section 77-B of the National
Bankruptcy Act.
Under the Empire plan,
holders of common and preferred stocks lost their
equities in the company
Edward D.
securities
of the
new
company,
Willys-Overland Motors, Inc., going only
143, p. 2072.
bondholders and creditors.—V.
Willys-Overland
Motors,
Inc.—Securities
tributed—
See Willys-Overland
Being
Dis¬
Co. above.
Willys Real Estate Realization Corp.—New Securities
Being Distributed—See Willys-Overland Co. above.
The distribution of the estimated net earnings for the year 1936 by the
declaration and payment of a cash dividend in that amount must be made
to the holders of the outstanding preferred stock, since there can be no
dividend payment to the class B or common stockholders until the
preferred
dividend in arrears on the outstanding preferred stock has been paid.
As of
Dec. 31, 1936 the preferred dividend in arrears on the outstanding pref.
stock will amount to $9,071,000 after making allowance for the retirement
of 6,020 shares of pref. stock acquired and owned
by the company.
No
dividend, however, can be paid to any class of stock so long as
condition of the company shows a deficit.
The proposed plan
The
Ry.—Equipment Trust Certificates—
Interstate Commerce Commission on
Sept. 29 authorized the com¬
pany and E. A. Whitman, receiver, to assume obligation and liability,
jointly and severally, in respect of $350,000 of equipment-trust
certificates,
series A, in connection with the
procurement of 250 box cars; the certificates
to be sold at par and accrued dividends
plus a premium of $623.
Bids for the proposed certificates were
solicited from
various
bankers
and investment companies.—The best
bid, par and accrued dividends:
plus a premium of $623, was submitted jointly
by Thrall West & Co. and
Piper, Jaffray & Hopwood, of Minneapolis, Minn., and this bid has
been
accepted.—V. 143, p. 2230.
(F. W.)Wool worthCo.—Sales——- -—~
Month of—
1936
January
February
1935
surplus, thereby permitting the payment of dividends out of earnings.
Present Capital Structure
April
May
June
July
August
September
—V. 143, p. 1734.
1933
____________
y
Wolverine Tube Co.—Initial Div.
The directors have declared
the new common stock, par
on
New Com. Stock—
initial dividend of 10 cents per share on
$2, payable Oct. 26 to holders of record Oct. 15.
an
The old no-par common stock was
recently split and exchanged for new
on the basis of three new shares
for one old share.
Dividends paid on the old no-par stock were as follows: 60 cents on
Aug.
10, last; 30 cents on July 1, last and five cents per share
stock
paid
1932.-—V. 143, p. 2073.
Yellow Truck & Coach Mfg. Co.—To
on
*
Including 6,020 shares
Recapitalize—
*
A special stockholder's
A letter sent to stockholders states:
The proposed changes are
necessary in view of certain provisions of the
Revenue Act of 1936 which imposes a tax upon the undistributed net
income of corporations despite the fact that a
corporation has a capital
deficit and may not legally declare dividends.
A change is also desirable
to provide working capital by reason of the increase in volume
of the
business of the company.
The net sales in value of the various classes of
products of Yellow Truck &
Coach Manufacturing Co. and its
subsidiary companies for the first nine
months of 1936, total approximately $46,000,000.
The total of net sales
for the 12 months ended Sept. 30, 1936 was
approximately $55,000,000.
The net earnings for the year 1936, on the basis of nine months actual and
forecast of the last three months, will be
approximately $4,500,000 or
more than the net earnings of the
company reported for
about $4,000,000
the year 1935.
Need of Additional
Working capital
business, as it was neces¬
banks this year to finance inventory.
In order for
advantage of every opportunity in the truck and bus
industry for the year 1937, it is essential that the working capital be
strengthened.
The expansion in volume of net sales in 1936 is not only an
increase in sales by the company over its previous years, but represents an
increase in the percentage of sales of the company's products in relation to
sary to
,
borrow from
the company to take
w*-..-
—
now
held in the
1,700,000 shs.
v
*150,000 shs.
1,300,000 shs.
800,000 shs.
treasury.
Proposed Capital Structure
Authorized
7% preferred stock (par $100)Class B stock (par $1)
Common stock (par $1)
To Be Outstand'g
293,980 shs.
2,200,000 shs.
1,700,000 shs.
143,980 shs.
2,200,000 shs.
800,000 shs.
Proposed action based on proposed change in capital stock structure:
(a) Payment in 1936 of preferred dividends in arrears to the extent of
approximately $4,500,000.
The proposed reduction in capital and the proposed
change in the capital
structure of the company will create a surplus, thereby
permitting the
payment of dividends out of earnings.
Preferred dividends in arrears on
the outstanding preferred stock only to thd extent of the estimated net
earnings for the year 1936 will be paid.
The payment of this cash dividend
will leave approximately $4,571,000 in preferred dividends on the out¬
standing preferred stock in arrears as of Dec. 31, 1936.
Payment of this
dividend of approximately $4,500,000 should be made since it saves to the
class B and common stockholders, the real owners of the
company, a tax
of approximately $900,000
(the estimated surtax on undistributed net
income) and since the payment of the preferred dividend arrears of approxi¬
mately $4,500,000 brings the class B and common stockholders closer to
the payment of dividends on their stock.
Payment to holders of the out¬
standing preferred stock on their dividend arrears at the present time,
should not exceed the earnings for the year 1936, since the claim of preferred
stockholders can go no further than to payment of dividends as earned.
The reduction of the par value of the class B and common stock, the reduc¬
tion of the capital of the company and the creation of a capital
surplus
thereby enable the company to distribute its earnings, as dividends,
(b) Sale at $10 per share to class B and common stockholders of 900,000
additional shares of class B stock of the par value of $1 per share.
The proposed change in the capital stock structure will make available
for issuance 900,000 shares of class B stock.
The rights to purchase this
stock at $10 per share will be offered to the class B and common stock¬
holders pro rata in respect to their respective holdings.
The sale of this
stock at $10 per share will produce $9,000,000 of which $4,000,000 will
go
to replenish the treasury for the cash dividend disbursement on the pref.
stock and $5,000,000 as additional working capital.
Under The
mately 43 shares of the
B
or
common
stock
can
plan, the
purchase approxi¬
class B stock for $430.
It seems fair to ask
the class B stockholders and the common stockholders to raise this
money
by subscription to the additional 900,000 shares of class B stock since the
new
additional investment
will react to the benefit of these classes of stock¬
reasons outlined above.
General Motors Corp., which is the owner of
72.545% of the outstanding
holders for the
7% preferred stock, of 100% of the outstanding common stock and 19.235%
of the outstanding class B stock, has agreed to purchase at
$10 per share
as many of the additional 900,000 shares of class B stock as are not sub¬
scribed for by the class B or common stockholders.
No change is proposed in the designations, preferences
privileges and
voting powers of the shares of each class of stock and the restrictions or
qualifications thereof.
:
m
zz
The additional 900,000 shares of class B Stock proposed to be issued shall
have the like powers, rights, preferences and restrictions as the 1,300,000
shares of class B stock of this company heretofore authorized and issued.
Under the present certificate of organization of the
company, the 1,300,000 shares of class B stock outstanding are entitled to receive dividend
payments in arrears at the present time of $1.12)4 per share each before
any dividends may be paid on common stock.
After the payment of this
dividend
in arrears on the class B stock, the common stock under the
present certificate of organization is entitled to receive a dividend in arrears
at the present time in the amount of $2.25 per share each before
any further
payments may be made on the class B stock.
After th9 payment of the
dividend on the class B stock and the common stock, the present certificate
of
organization provides that the class B stock and the common stock will
be entitled to receive the same dividends
per share.
The proposed addi¬
tional 900,000 shares of class B stock as well as the
1,300,000 outstanding
^shares of class B stock will receive
$1.12)4 per share each in dividends
before the common stock will receive
any
CURRENT
dividends.—V. 143, p. 779.
NOTICES
—America provides one of the few
relatively safe havens for capital at
this time as a result of the present troubled state
of continental Europe, in
the opinion of British investors as reflected
by Harold E. Aul of Calvin
Bullock, who recently returned on the Queen Mary, after an extensive
trip
through England, Scotland and Ireland, where he engaged in a
survey of
economic and investment conditions.
Mr.
Aul
stated
that
recovery, which has
go
before it
runs
impetus from
a
it
was
the
^
belief in
England that
our
economic
lagged well behind theirs, has considerably further to
its
course
and
that, like threis, it will derive its chief
great expansion in residential building construction..
4
"British capital lodged here will not be
repatriated to any material extent,
with international
currency stabilization, but will be invested here in
even
increasing amounts
on a
long-term basis," said Mr. Aul, "for they recognize
that American stock prices are
relatively substantially below levels prevail¬
ing in England and that yields
are generally more attractive.
4
"While England has already
enjoyed an econimic recovery of impressive
Working Capital
The estimated total oFnet sales in value for the year 1936 is
$58,000,000
which represents an increase of approximately $22,000,000 over the total
net sales in value for the year 1935.
Company's present
is not adequate to handle the present volume of
Outstanding
300,000 shs.'
1,300,000 shs.
Common stock (par $10)--
Oct. 1,
meeting will be held on Nov. 4 for the purpose of
reducing the capital and changing the capital stock structure of the company.
a
Authorized
v
_
1934
$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
17 509,833
24,035,139
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
23.186.341
21,556.235
20,797,935
20.357.877
23,433,705
20,243,023
21,339,116
21,642,104
March
the financial
of change in
the capital strock structure of the company will, however, create a
capital
holders of 100 shares of class
Wisconsin Central
the estimated net
additional working capital unless the company is
prepared to pay out a substantial portion of these earnings by way of tax.
The payment of approximately $4,500,000 in dividends by Dec. 31, 1936
will make serious inroads upon company's working capital.
This cash
outlay must be replenished and the working capital of the company
Class B stock (par$10)
Willys-Overland Co.—New Securities Ready—
on
retained ^o accumulate
reorganization
Holders
undistributed net income
earnings of the company for the year 1936 is the sum of $900,000.
(This
above the corporation tax of 15%).
To save the payment of
this tax on undistributed profits, these earnings must be distributed
by
way of dividends before Dec. 31, 1936.
These earnings and the earnings of
future years (if the present provisions of the 1936 Federal Revenue Act
imposing a surtax on undistributed net income are retained) cannot be
is over and
7% preferred stock (par $100)
The stock of Willys-Overland Motors,
Inc., issued pursuant to the plan of
as amended is available for distribution and has
been de¬
10, 1936
year
Distribution of Net Earnings 1936
The estimated surtax
additional
program.
to
Company in the
1936, entered more actively
into the low-priced truck field, i.e., trucks selling below $1,000 per unit.
The company has an outstanding position in the heavy-duty truck field
and should certainly improve its position next year in the low-priced field.
The substitution of coaches and buses for electric transit surface lines, is
another field, in which the company has an outstanding position in an
expanding market. In view of the above, the directors feel that $5,000,000
additional working capital should be obtained.
1,240,000
1,100,000
Subscription Rights—
become effective
become the same
Oct.
the industry as a whole.
$1,116,000
.
March
April
May
1936
$1,116,000
1,085,000
1,272,000
1,478,000
January
February
Chronicle
proportions, the British investor is aware that stimulus to industrial (ac¬
tivity from residential construction, which has proved the principal basis of
their recovery, cannot be expected to endure much
longer, and that the
present high level of industrial production is being supported more and more
by the artificial factor of armament manufacture.
Stock prices over there
have reached levels above those of
1928, the previous peak year, under^the
influence of extreme monetary ease and the
present high rate of industrial
operation, and yields from dividends
are
corrrspondingly low."
Volume
Financial
143
2389
Chronicle
The Commercial Markets and the
4 COTTON—SUGAR—COFFEE—GRAIN—PROVISIONS
Crops
J
PETROLEUM—RUBBER—HIDES—METALS—DRY GOODS—WOOL—ETC.
country, particularly in the Quindio region
picking season is about to get underway.
In
noting this, an announcement issued by the Commerce
Department on Sept. 30 also said:
;
C
<
where
Friday Night, Oct. 9, 1936
Coffee—On the 3d inst. futures closed 10 to 12 points
higher for Santos contracts, with sales of 19,750 bags.
New
Rio contracts closed with gains of 15 to 19 points, with
sales of 7,250 bags.
Old Rio contracts closed 10 points
higher, with sales of 750 bags.
Rio de Janeiro futures were
unchanged to 25 reis higher, but the spot No. 7 price was
200 reis lower at 14.800 milreis per 10 kilos.
Cost and
freight offers from Brazil were about unchanged, with
Santos Bourbon 4s at from 8.90 to 9.20c., while local spot
prices displayed a steady tone.
Further sharp gains were
registered in the Havre market for futures, where prices were
2 to 7% francs per 50 kilos higher, with sales of 65,000 bags.
On the 5th inst. futures closed unchanged to 10 points lower
for the Santos contract, with sales of 22,250 bags.
The
new Rio contract closed
1 higher to 3 points lower, with
sales of 18,250 bags.
The old Rio contract closed 4 to 5
points higher, with sales of 7,500 bags.
Rio de Janeiro
futures were unchanged to 25 reis lower, while the No. 7
spot price was 200 reis higher.
Cost and freight offers
from Brazil were unchanged to 5
points higher, while in
the local spot market Colombian varieties continued
weak,
Manizales selling at 10 %c. and offered, Nov .-Dec.
with
shipment at 1034c.
Havre futures
higher, with trading again heavy.
to 1% francs
The cut of 20% in
French coffee tariffs was believed to merely partially offset
the higher internal prices as a result of the devaluation of
the franc.
On the 6th inst. futures closed 7 points higher
to 2 points lower for Santos
contracts, with sales of 24,500
bags.
Old Rio contracts closed 9 to 10 points higher, with
bags.
New Rio contracts closed 1 point down
to 1 point up, with sales- of
3,500 bags.
Rio de Janeiro
futures were unchanged to 25 reis lower, while the
open
market exchange rate was 70 reis weaker at 16.920 milreis
to the dollar.
Cost and freight offers from Brazil were
about unchanged, with Santos 4s at from 8.95 to 9.20c.
Colombia coffees were a bit steadier, with Manizales offered
at 1034c.
On the 7th inst. futures closed 4 to 8 points
higher for Santos contracts, with sales of 26,250 bags.
Old
Rio contracts closed with
gains of 6 to 7 poinits, with sales
of 5,750 bags.
New Rio contracts closed 1 to 4 points higher.
writh sales of 6,250 bags.
Reports that December tenders
on the Santos contract would be
again accepted by trade
sources brought
covering into that month.
Rio de Janeiro
futures were unchanged to 5 reis higher.
Cost and freight
offers on Santos 4s held
generally at from 8.95 to 9.20c.,
although one shipper was reported offering at 10 points
under the inside price.
Colombian coffees were reported
steady with'Manizales at from 1034 to 1034c.
According
to a cable the Santos
port stocks on a recount have been
increased by 374,000 bags.
Considerable interest is being
displayed in the meeting of coffee producing countries'
representatives in Bogota, Colombia, with reports that six
countries, including Colombia have agreed on a PanAmerican coffee office in New York.
On the 8th inst. futures closed 13 to 21
points higher for
Santos contracts with sales of 50,250 bags.
Old Rio con¬
tracts
were
quiet, with gains of 8 to 12 points at the close,
totalling 3,000 bags. New Rio contracts closed 2 points
higher to 1 point lower, with sales of 13,750 bags. Rio de
Janeiro futures were 25 to 75 reis higher.
Cost and freight
sales
offers from Brazil continued around 8.95 to 9.20c. for Santos
4s, while Colombian coffees displayed a steady tone, with
Manizales not offered under 1934c. Havre futures were 3%
to 634 francs
higher.
The United States visible supply of
Brazilian coffee now stands at 928,577 bags, against 1,218,000
at the same date last year and 1,109,000 in 1934.
Today
prices closed 2 to 8 points up for Santos contracts, with sales
of 117 contracts.
Old Rio contracts closed 9 points down,
with sales of 18 contracts.
New Rio contracts closed 1 point
up to 2 points down, with sales of 39 contracts.
Rio de
Janeiro futures were 25 to 50 reis higher.
The new C con¬
tract in Santos, Brazil, was 350 to 500 reis higher.
The spot
No. 7 price was 100 reis better.
Cost and freight offers from
Brazil were 10 to 25 points higher, with Santos 4s at 9.05 to
9.20.
Havre futures were 234 to 3 francs higher.
Rio coffee prices closed as follows:
December
5.33 July
5.41 September
May
5.50
5.51
_5.46.
Santos coffee prices closed
as
follows:
March
8 98
December
May
July
8.94
September
9.04
--8.94
8.93
Favorable conditions prevail in Colombia's coffee industry
the present time, according to a report to the United
States
Commerce
Department from its Bogota office.
at
Steady prices and
have created
an
a satisfactory crop situation, it is stated,
optimistic attitude in the principal coffee
An
the
coffee conference is
international
scheduled to open in
Bogota on
Brazil, Costa Rica, Venezuela, El Salvador and
Oct. 5, the report states.
Nicaragua will send delegates to the conference to discuss world marketing
conditions.
While
that
is
no
one
ways
definite program has been
and
announced it is understood locally
principal points which will be discussed at the conference
of the
means
to minimize the fluctuation of coffee prices
in world
markets, according to the report.
A survey of
world coffee consumption for the first quarter
July through September, made by the
New York Coffee & Sugar Exchange reveals a decline of
550,872 bags or 9% in world distribution entirely borne by
coffees of Brazilian growth.
Distribution of all coffees
in the United States aggregated 2,719,203 bags against
3,028,075 bags during the corresponding months of 1935, a
decrease of 308,872 bags or 10.2%, while in European
countries 2,549,000 bags disappeared against 2,740,000 in
1935, a loss of 191,000 bags or 7.0%. Deliveries to countries
other than United States or Europe were 279,000 against
330,000, a decline of 51,000 bags or 15.4%. An announce¬
ment issued by the Coffee & Sugar Exchange on Oct. 3,
of the
new
crop year,
continued:
were
sales of 5,000
March
of the
centers
COMMERCIAL EPITOME
Brazil's
share
quarter of this
or
of
the
season
14.8% while,
on
total
deliveries
was
3,386,966
bags for the first
against 3,974,424 in 1935, a decrease of
587,458 bags
the other hand, distribution of all other growths was
2,160,237 bags against 2,123,651 bags, a gain of 36,586 bags or 1.7%.
the United States, Brazilian coffees to
into
consumption
against
2,098,424
in
In
the extent of 1,763,966 bags went
1935,
a
loss of 334,458
bags or
15.9% while in Europe Brazils at 1,344,000 bags against 1,546,000 were
down 202,000 bags or 13.1 %.
in the
bags
United States
or
2.7%
1,194,000,
an
was
while in
Disappearance of coffee other than Brazilian
955,237 bags against 929,651, a gain of 25,586
Europe
1,205,000/ bags were distributed against
increase of 11,000 bags or .9%.
Cocoa—Ou the 3d inst. futures closed 8 to 9
points up.
influenced largely by the firm London
market and the scarcity of offerings on the local Exchange.
Commission houses and manufacturers were the principal
buyers locally.
There was considerable profit taking, but
these offerings were readily absorbed.
New York ware¬
house stocks declined to 699,982 bags, lowest in the past four
years.
Transactions on the local Exchange were 105 lots,
or
1,407 tons.
Closing:
Dec., 7.57; Jan., 7.52; March,
7.62; May, 7.72; July, 7.82; Sept., 7.88.
On the 5th inst.
futures closed 1 to 2 points
lowei;. Trading was compara¬
tively quiet on the local Exchange.
Volume of transactions
totaled 244 lots, or 1,501 tons.
New York warehouse stocks
declined 2,738 bags, bringing the total down to 697,244 bags,
the lowest in four years.
Local closing: Dec., 7.45; March,
7.60; May, 7.70; July, 7.80; Sept., 7.87.
On the 6th inst.
futures closed unehauged to 1 point higher.
Sales totaled
193 contracts, or 2,586 tons.
As a result of heavy liquida¬
tion by the trade and old longs, prices sold off to the lows of
7 to 10 points under the previous closing.—At this level a
substantial buying movement set in, coming largely from
manufacturing interests.
This brought about a sharp rally
in which all the early losses were wiped out. London re¬
ported outside prices unchanged, with futures unchanged
to 13^d. lower,
sales there totaling 780 tons in futures
contracts.
Local closing:
Oct., 7.31; Dec., 7.45; Jan.,
7.50; March, 7.60; May, 7.70; Sept., 7.88.
On the 7th inst.
futures closed 12 to 17 points higher.
On heavy buying in
a booming market prices advanced to the highest levels in
six years, reaching the 8-cent level for the first time since
1930.
The advance was accompanied by very heavy trading
in New York and London.
A new 6-year high was also
established in the English market.
During the morning
session on the local Exchange large manufacturing interests
were aggressive buyers.
This attracted considerable buying
from the outside.
Importers continued to report a scarcity
of offerings from producing countries except at considerably
higher prices.
As a result, buyers of actuals in the spot
market were forced to pay new high prices.
Transactions
on the local Exchange totaled 578 lots, or 7,745 tons.
Local
closing:
Dec., 7.61; Jan., 7.66; March, 7.73; May, 7.82;
July, 7.92; Sept., 8.00.
On the 8th inst. futures closed 17 to 15 points higher. The
market continued highly active, with manufacturers still
persistent and heavy buyers.
The London market was also
showing pronounced strength. Wall Street was noted as a
substantial buyer.
Spot brokers reported a growing scarcity
of offerings of actual cocoa.
Importers said that there were
practically no offerings from Brazil, the second largest
producer, while the Gold Coast was offering sparingly op. an
advancing scale. Prices during this session scored the highest
since Aug. 11,1930, both for futures and actuals. New York
warehouse stocks declined 1,441 bags, bringing the total
down to 695,404 bags, the lowest in over four years. TransacThese
gains
were
Financial
2390
tions
the local Exchange were
on
474 lots, or 6,352 tons.
closing:
Dec., 7.76; Jan., 7.81; Mar., 7.88; May,
7.97; July, 8.07; Sept., 8.15.
Today prices closed 7 to 8
points down, with sales totaling 506 contracts. Prices were
bid up to new high levels for the last six years in the early
Local
trading.1-Subsequently there was heavy profit taking, and
not only were these gains lost, but the market showed sub¬
stantial net losses at the close.
London was steady. Ware¬
house stocks decreased 1,173 bags to 694,231 bags, a new
low for a period of years.
Local closing: Dec., 7.68; Jan.,
7.73; Mar., 7.80; May, 7.90; July, 8.00; Sept., 8.08.
Sugar—On the 5th inst. futures closed 2 to 6 points up
finals. Sales were 7,150 tons. In the market
for raws, refiners were reported definitely interested at 3.35c.,
last Friday's prices, while only Cubas at 2.55c. (3.45c. duty
from Friday's
were openly offered.
It was believed both
Puerto Ricos were available on a bid of 3.40c.
In
paid)
market Sucrest
quoting $4.45
per
Cubas and
the refined
100 pounds, against $4.75
by other local refiners, was reported to have received a good
prompt business.
London futures closed }/% to Id. lower,
while raws were reported offered at 4s 3d. per cwt. or about
.763^ f. o.b. Cuba.
On the 6th inst. futures closed 1 down to 2 points up. Sales
were
6,750 tons.
In the market for raws the spot price
5 points on a sale of 10,000 bags of Puerto Ricos,
delivery Oct. 20, to Sucrest at 3.40c.
The spot price from
Sept. 18 moved off 5 points at a time from 3.70 to 3.35c. In
addition tb the Puerto Rican sale, three lots of-Cubas went
moved up
(3.40c. duty paid) clearing the market at that level.
at 2.50c.
Norfolk and 25,000 bags
while Savannah got a cargo,
The only open offer reported
was a lot of January shipment Cubas at 2.50e.
The Agri¬
cultural Adjustment Administration report that 89.55% of
the offshore quotas had been exhausted during the first nine
months, was about as expected. London futures were K to
13^d. higher, with raws unchanged.
On the 7th inst. futures closed 1 point down to 1 point
up.
Sales were only 450 tons. In the market for raws bids
were being solicited on one cargo of Cubas at 2.50c., Oct. 15
to Nov. 15 shipment, with refiners holding aloof.
Also one
cargo of Cubas, January shipment, was offered at the same
price.
According to trade reports, most orders for refined
sugar received during the last few days have been marked
"rush delivery," indicating small supplies in many cases.
Refiners are expected to announce a reduction from the
present $4.75 per 100 pound price before Friday, but some
predicting that it will be held up until the week-end. Meinrath & Co. estimate the domestic beet sugar crop at 1,174,000
long tons refined against 1,053,832 tons produced in 1935
and 1,034,320 tons in 1934.
Converted to short tons raw
value, the figure is equivalent to 1,406,920 tons as compared
with the revised quota of 1,342,179 this year.
The original
McCahan took 21,000 bags ex store
second half October shipment,
October-November shipment.
domestic beet quota is 1,550,000 tons.
On the 8th inst. futures closed 1 to 3 points higher.
Sales
totaled 6,05u tons.
In the market for raws, one or two
of Cubas were offered at 2.55c., while refiners were
indicating interest at 2.50c., but only for sugar to arrive
beyond the spot limit as they do not want to change the
present spot level of 3.35c., on which basis payments are
made for Hawaiians arriving.
The fixing of the Philippine
quota for 1937 at 998,110 short tons raw value, or identical
with the original 1936 quota caused a wide difference of
opinion among traders.
Some could see nothing of importance in the announcement, while others pointed to the fact
that on a pro-rata basis a grand total of all areas of 6,434,088
tons would be indicated against 6,812,687 tons, the present
1936 quota, and 6,632,000 tons consumed in 1935.
Today
futures closed 1 point down to 2 points up.
Trading wras
very light and without any special feature.
In the market
for raws it was learned that a cargo of Cubas, January ship¬
ment, was sold at 2.50c. yesterday.
Several other lots were
offered at 2.53c.
Prompt shipment,of sugars which included
4,500 tons of Philippines afloat, two lots of Puerto Ricos
and several cargoes of Cubas, were offered at 3.45c. delivered.
Refiners showed no disposition to change the present spot
price of 3.35c.
London futures were K to %d. higher,
while raws were firm with sales at 0.813^ of a cent reported.
cargoes
Prices follow:
2.47
2.46 January
2.46 May
2.47 November
July
March
September
2.46
2.47
Refined sugar exports by the United States during the
first eight months of this year totaled 33,814 long ton3, as
contrasted with 59,591 tons during the similar period last
year, a decrease of 25,777 tons, or approximately 43%,
according to Lamborn.& Co.
The January-August exports
this year are the smallest for any corresponding period since
1933, when the shipments amounted to 26,114 tons, the firm
said, adding:
The refined sugar exports this year went to 57 different countries,
last year,
list.
during
while
the first eight months 64 countries were included in the
The United Kingdom leads this year with 14,436 tons, being followed
by Honduras and Panama with 2,770 tons and 2,414 tons respectively.
Last season,
the United Kingdom with
16,584 tons also headed the list,
while Uruguay and Norway with 7,490 tons and 5,557 tons, respectively,
followed.
i
Lard—On the 3d inst. futures closed 5 to 7 points higher.
The tone was firm throughout the session, though trans¬
actions
were
light.
The hog market
was very
quiet, with
Oct. 10,
Chronicle
1936
prices nominally steady at Friday's average.
Total receipts
run were 11,400 head, against 7,800 for the
for the Western
same
day
Exports shipments of lard
a year ago.
Port of New York
on
Saturday were light and
from the
totaled 7,000
pounds for Southampton.
Liverpool was quiet on Saturday,
with prices unchanged to 3d. higher,
on the 5th inst.
futures closed 7 points down to 2 points up.
Hog receipts
continue to run heavy, and as long as this continues no
appreciable rally is looked for in the market for lard.
High
feed prices are forcing a tremendous hog run, and this will
continue until early winter, according to the trade.
Hog
values were 5 to 15c. higher, with the top price of the day
$10.50.
Western marketings were heavy and totaled 70,000
#
last year. Some of
reported ranged from $8.80 to $10.40.
Export
clearances of lard on Monday totaled 44,800 pounds destined
for Antwerp.
Liverpool closed unchanged on the spot
position, 6d. higher on October and 3d. higher on distant
January.
On the 6th inst. futures closed unchanged to
2 points higher.
Pressure continued against the market a
good portion of the day, with prices rallying just feebly.
The heavy movement of hogs is the chief overshadowing
influence in the lard market.
The Western hog run was
head, against 41,700 for the same day
the
sales
heavy and totaled 65,100 head, against 36,200 for the same
day a year ago.
Hog prices at Chicago at the close were
10c. lower.
The top price for the day was $10.40 and most
of the sales ranged from $8.90 to $10.30.
Export clearances
on
Tuesday- were 35,550 pounds, destined for Glasgow.
Liverpool lard futures ruled quiet but steady, and prices at
the close were unchanged to 3d. lower.
On the 7th mst.
futures closed 5 to 7 points up.
Trading was light and with¬
out special feature, with prices confined to a narrow range.
Hog prices at Chicago were mostly 10c. higher, with the
top price $10.50.
The major portion of sales reported were
done at $8.95 to $10.40.
Western hog receipts continue
#
to run heavy and
the total marketings yesterday were
59,900 head, against 35,700 for the same day last year.
Export clearances of lard from the Port of New York con¬
tinue to run light, with yesterday's shipments totaling 28,125
pounds for Antwerp.
Liverpool closed quiet, unchanged
to 3d lower.
On
This
the
.
10 to 15 points higher.
attributed largely to shorts covering,
futures closed
8th inst.
advance
was
Hog prices
The
top price for the day at Chicago was $10.50, with the major
portion of sales done at $9 to $9.45. Hog receipts continued
to run heavy, with estimated receipts on the 8th inst. 9,000
head at Chicago.
Shipments of lard for export from the
Port of New York as reported on Thursday, were only 7,000
pounds for Southampton.
Liverpool lard futures closed
unchanged to 3d. higher. Today futures closed 5 to 8 points
up.
The strength in lard was attributed largely to the pro¬
influenced by stronger grain and hog
continued firm, and at the close were
nounced strength in grains
markets.
5 to 10c. higher.
and steadier hog prices.
LARD FUTURES IN CHICAGO
Mon.
Tues.
Wed.
Thurs.
Fri.
11.52
11.47
11.50
11.65
11.70
11.52
11.55
11-60
11.70
11-77
11.60
11.60
11.67
11 -80
11-85
11.92
11.95
12.00
12.12
12.20
DAILY CLOSING PRICES OF
Sat.
11.57
11.60
October
December
January
11.65
October
11.97
$33, nominal, per
barrel. Beef: quiet.
Mess, nominal;L.packer nominal; family, $18 to $19 per
barrel, nominal; extra India -mess nominal.
Cut Meats:
quiet. Pickled Hams, picnics, loose, c.a.f.; 4 to 6lbs., 15%c.,
6 to 8 lbs., 15c., 8 to 10 lbs., 133^c.
Skinned, loose, c.a.f.:
14 to 16 lbs., 21^e., 18 to 20 lbs., 19}&>., 22 to 24 lbs.,
17 Kg
Bellies, clear, f .o .b., New York: 6 to 8 lbs., 19 Kg .,
8 to 10 lbs., 19%c., 10 to 12 lbs., 19%c.
Bellies clear, dry
salted, boxed, N. Y.:
14 to 16 lbs., 15^0., 18 to 20 lbs.,
15>^c., 20 to 25 lbs., 14^c., 25 to 30 lbs., 14^c. Butter:
First to higher than extra and premium marks: 313^c. to
33%c.
Cheese: State, Held, 1935, 22c. to 22)/£c.
Eggs:
Mixed colors, checks to special packs: 21c. to 29M>c.
Pork—Mess, $31 per barrel; family,
barrel; fat backs, $22.25 to $24 per
•
prices showed an easier tendency
Oils—Linseed oil
to unsettlement
of currencies and disposition
owing
of consumers
concerning new crop. Quotations:
crop, 13%c. to 13k£c.; New crop,
13Kg> to 13k£c., Drms, spot, 143|c.
Coconut: Manila,
tanks, Coast, 5^c., Jan. for'd. 6c.
Corn: Crude, tanks,
Chicago, 9 Kg. Olive: Denatured, spot, Spanish, $1.25 to
$1.30; Shipment, $1.05 to $1.15.
Soy Bean: Tanks, mills,
8c.; C. L. drms., 9.1c. L.C.L., 9.5c.
Edible: 76 degrees,
12Kg. Lard: Prime 12%c.; extra strained winter, 11 Kg.
Cod:
Crude, Newfoundland,
45c.; Norwegian Yellow,
393^c. Turpentine: 39c. to 45c. Rosins: $7.22)^ to $8.25.
to
await developments
China Wood:
Cottonseed
Tanks, old
including switches, 58 contracts.
Prices closed as follows:
Oil sales,
Crude S. E., 83^c.
December
January
--10.05@10.10 October
November
10.12@
February
10.15©
March
10.22 @
.
Petroleum—The summary
April. JL
May.,
9.90@ 9.99
10.00@
10.25©
:.-.10.26@
and tables of prices formerly
appearing here regarding petroleum will be found on an
earlier page in our department of "Business Indications,"
in the article entitled "Petroleum and Its Products."
Rubber—On the
3d inst.
futures closed 2 to 4
points
quiet with only 200 tons of
rubber traded in the futures market.
Outside quotations
remained unchanged.
London and Singapore closed quiet
higher.
The market
was very
Volume
Financial
143
2391
Chronicle
\
and steady, respectively, with prices showing advances of
l-32d. to l-16d.
Local closing: Oct., 16.35; Dec., 16.48;
16.57; May, 16.67.
On the 5th inst.
5 points higher.
Trading was quiet,
steady.
Outside prices were quoted
at a spot basis of 16 9-16d. for standard sheets.
Trans¬
actions in futures totaled 530 tons.
London and Sihgapore
markets
closed
steady, with prices unchanged.
Local
closing: Oct., 16.39; Dec., 16.52; Mar., 16.61; June, 16.72.
On the 6th inst. futures closed 9 to 12 points down.
Trading
was
light, with transactions totaling 510 tons.
Outside
prices sagged l-16c. per pound to a spot basis of 16 He. for
standard sheets.
London and Singapore markets closed
steady, with prices virtually unchanged.
Local closing:
Oct., 16.30; Dec., 16.41; Mar., 16.50; May, 16.59; Aug.,
16.70; Sept., 16.74.
On the 7th inst. futures closed 4 to 8
points lower.
Transactions totaled 590 tons.
Spot ribbed
smoked sheets declined to 16.31c. from 16.38c. the previous
day.
London and Singapore markets closed unchanged.
Local closing: Oct., 16.26; Dec., 16.36; Mar., 16.44; May,
16.51; July, 16.59.
On the 8th inst. futures closed 8 to 10 points higher.
At
the close outside prices were quoted on a spot basis of 16He.
Jan.,
16.51; Mar.,
futures
with
closed
the
1
to
undertone
for standard sheets.
Certificated stocks of rubber in
by the exchange decreased 230 tons to 13,490
tons.
London and Singapore closed steady, with prices
Local closing: Oct. 16.34; Nov.
showing a slight advance.
16.39; Dec. 16.44; Mar. 16.54; May 16.61; July 16.69.
Today futures closed 4 to 5 points up with sales of 32 con¬
tracts.
The market opened 3 to 7 points higher and held
steady during most of the session.
London and Singapore
were slightly higher.
London cables that warehouse stocks
of rubber in the United Kingdom decreased this week an
estimated 2,500 tons.
Local closing: Dec. 16.48; March
16.58; July 16.74.
Hides—On the 3d inst. futures closed 2 to 5
points up^
light, totaling 160,000 pounds.
Stocks of
certificated hides in warehouses licensed by the Exchange
remained unchanged at 844,401 hides.
Spot hide market
has been fairly active the past few days, with sales reported
Saturday morning of 40,000 hides, with light native cows
selling at 11 He. a pound.
Local closing: Dec., 11.70;
Mar., 12.00; June, 12.31; Sept., 12.61.
On the 5tli inst.
futures closed 5 points down to 1 point advance.
Trans¬
actions
totaled
160,000 pounds.
Stocks of certificated
hides in warehouses licensed by the Exchange declined by
975 hides to a total of 843,426 hides.
An item of unusual
interest was the report that so far this year production is at
a new high
level of 265,502,000 pairs of boots and shoe^
other than rubber.
This exceeds the previous record for
the similar period established last year by 3.2 %.
This marks
the fourth year in succession that production of boots and
shoes, other than rubber, in the United States, has attained
record levels.
Local closing of futures: Dec., 11.65; Mar.,
11.98; June, 12.32; Sept., 12.62.
On the 6th inst. futures
closed unchanged to 5 points higher.
Transactions totaled
560,000 pounds.
Stocks of certificated hides in ware¬
houses licensed by the Exchange remained unchanged at
843,427 hides.
The domestic spot hide market was quite
active, with reported sales of 125,600 hides in Chicago and
New York on a basis of llHc- a pound for light native
cow hides, September take-off—Local closing: Dec., 11.70;
Mar., 12.01; June, 12.32; Sept., 12.63.
On the 7th inst.
futures closed 6 to 8 points down,
Transactions totaled
960,000 pounds.
Nothing new was reported in the domestic
spot hide markets.
Local closing: Dec., 11.61; Mar., 11.94;
June, 12.25; Sept., 12.55.
On the 8tli inst. futures closed 3 to 4 points up.
Trans¬
actions totaled 280,000 pounds.
Stocks of certificated hides
in warehouses licensed by the exchange remained unchanged
at 843,665 hides.
"Local closing: Dec. 11.65; March 11.99;
June 12.28; Sept. 12.58.
Today futures closed unchanged
to 4 points up.
Sales totaled 15 contracts. In the domestic
spot markets sales totaled 20,000 hides, with light native
cows selling at
11 He., unchanged from last previous sale.
In the Argentine market sales of 8,500 hides were reported,
with frigorifico steers at 12 15-16c. to 13c.
Local closing:
Dec. 11.65; March 11.95; June 12.28.
were
Freights: There was nothing outstanding in the
developments/the market for charters being fairly
Ocean
week's
active.
Charters
Kingdom,
included: Wheat: Early
2s. 3d. to Italy,
Nov.,
2s. 4Kd.
Montreal
to
p.
p.,
United
Vancouver to United Kingdom,
28s. 6d.; Ballast from Montreal, loads Vancouver for United Kingdom, 28s.
6d.
Grain booked: This included 10 loads, New York-Antwrep, Rotter¬
dam, 10He., 10 loads Montreal to Antwerp, Rotterdam, 10%c., to Havre,
I2%c.
Tankers: Oct., 10-30, to N. H., 27>£c., light crude; Oct., clean,
23c.
Sugar: Oct., Cuba to Marseilles, 16s. 6d.; Cuba to Antwerp, 16s.
Trip: West Indies, round $1.15; same, $1.20; same, $1.70.
Grain: 35
loads, Montreal, Nov., Antwerp-Rotterdam, 11 Mc., Havre, 13c.
Montreal
end October-early Nov.,
United Kingdom and options basis, 2s. 3d.;
10, Nov., St. Lawrence ports,
basis, 2s. 4^d., options.
Coal—Domestic markets are reported as less active than
owing to the warm open weather.
Bituminous
dumpings at New York Monday were around 550 cars.
September increase in bituminous production was 3,500,000
tons to 36,772,000 tons, at which figure it was 11,700,000
tons heavier than a year ago.
Operators appear to be con¬
vinced that soft coal prices will advance materially during
the coming months to more profitable levels.
Some increases
on domestic grades of coal have already been effected.
A
last week
become
more
forcing buyers to pay a premium
It is stated in certain quarters that
yards will prompt an insistent demand
first cold spell arrives.
acute, perhaps
for prompt deliveries.
the low stocks in retail
for coal when the
Copper—The market in this metal has been fairly active,
approximating 4,179
tons.
Virtually all of the purchases of 1,004 tons on Tuesday
were
on
the part of company-owned fabricators, it was
stated.
The independent companies have been out of the
market for some time.
Talk of an advance in the domestic
with domestic sales for the month so far
price to 10c. is no longer heard.
In fact the feeling prevails
the metal will
the rest of the
year.
The failure of lead and zinc producers to mark up
prices in the face of good business and statistics has created
a feeling of caution in those producers who have a tendency
to raise the domestic price of copper.
The European copper
situation is reported as without any notable feature or
change, the markets there being exceedingly dull.
that if business continues at the present rate,
price of 9He.
do well to hold its present
over
to prevail in the markets for
loath to do anything pending the
of European currencies. Following the report of
session of the London Metal Exchange Tuesday,
continues
Tin—Dullness
ware¬
houses licensed
Transactions
shortage of coal cars for prompt shipment was reported in
several localities last week.
It is asserted that when cooler
weather stimulates the demand this shortage of cars will
this metal, with consumers
settlement
the second
was quoted 45He. per pound, but shortly
prominent tin dealer posted the price of 45 Hc*
per pound, which appeared to be generally accepted.
Re¬
newal of the tin restriction plan is now in its critical stage.
Rumors
were
circulated Wednesday that the Siamese
Assembly could not meet before next February, in order to
pass on a new restriction proposal, although the old plan
expires at the end of the year. It was learned that this is
not the case.
The Siamese Assembly can be called at any
time. American tin consumption is reported to be proceeding
at a fairly good pace.
Tin plate production holds to 90 per
cent of capacity, and would be higher but for a shortage of
raw steel.
Tin afloat in the United States is 6,622 tons. Tin
arrivals so far this month have been 1,282 tons, all at Atlantic
ports.
Commodity Exchange warehouse stocks are un¬
changed at 255 tons.
Straits
spot
thereafter
a
A'j
Lead—Substantial
latter
buying
was
again
evidence
in
the
relative
quiet.
Some producers reported having accumulated a
larger waiting list than before, this list being made up of
tonnage which producers refuse to book currently.
Con¬
part of the week following several days of
reported
sumers
are
almost
exclusively,
to be buying October requirements
disregarding their November needs.
This is looked upon as a highly desirable situation in that
means
that lead is going into consumption promptly,
most wholesome
tion
that
sign.
consumers
It
are
may
also be regarded
confident
that
as an
there
it
a
indica¬
be
will
no
But with the steel, automotive and build¬
ing industries showing great promise for the coming months,
this metal is bound to come into its own in a very sub¬
stantial way sooner or later.
advance in price.
Zinc—Demand for the past several weeks
has been light,
with sales running 1,500 to 2,000 tons per week, or only a
fraction of the sales of zinc's kindred metal, lead.
However,
week in August over 30,000 tons of zinc were
as an explanation for the dulness that
has prevailed since then.
Sales of high-grade zinc, used
chiefly by the automobile makers, have been brisker than
the common grades of prime western slab zinc
in recent
weeks.
It is pointed out that the statistical position of zinc
has probably improved the best of any of the major metals,
tin only excepted.
Producers state that before they raise
prices, unfilled orders must be reduced further and that
London prices must rise.
during
one
sold, which is given
^
Steel—According to the "Iron Age" heavy bookings of
operations to another new
high for the year and since 1930, with ingot production now
at the rate of 75 H % of capacity.
It is stated that while the
lighter steel products are in greatest demand, the heavy
products have made substantial gains.
As evidence, the
Pittsburgh district, where heavy steels predominate, is now
operating at 76%, having for the first time since 1930 passed
the average of the country as a whole.
It is further asserted
that the sheet situation has reached a point where some users
may not be able to obtain all they will want during the fourth
quarter. A few mills are virtually out of the market on coldrolled annealed sheets for the remainder of the year.
The
steel in the last week have forced
tin
platp, mills
are reported now operating at 90% of capacity,
expansion being prevented by lack of raw steel. The
industry is expected soon to play a major part
in the activity of the steel industry as production of new
model cars gets under way.
Railroad buying of equipment
and track supplies is reported on the up-grade.
The pur¬
chase of 27,000 tons of rails by the Louisville & ^Nashville
may be said to usher in the regular fall buying movement.
The run down condition of equipment of the carriers is well
known, and replacements eventually have,to be made in the
further
automotive
form of
cars
and rails.
Pig Iron—Business in this metal is reported
\
brisk, with
foundry employment high. Foundry operations in the East
are believed to be 50 to 60% of capacity..
As time goes on,
as
V
Financial
2392
Chronicle
Oct.
10,
1936
the
majority of the producers and sellers believe that there
no price advance to apply to deliveries during fourth
quarter.
However, an advance between the middle of
November and Dec. 1 is rather expected to apply to first
quarter delivery in 1937. It is stated that what the market
now lacks in the East is some large open inquiry for several
thousands of tons, such as the General Electric Co. often
issues for several plants.
The business now consists mostly
of carload and 100-ton lots.
With the closing of navigation
in the North not far off, pig iron is being rushed to con¬
sumers
and to storage points.
Thus much iron is being
shipped to Jersey City, while there are many piles of iron
on the banks of the Hudson River at Beacon, N. Y. awaiting
rail shipment to New England.
Wool—Domestic
wools were very slow on the Boston
Only scattered sales were closed as buyers came
market.
into
the
market
to
cover
limited immediate requirements.
Tues.
15,502
13,338
1,360
11,521
7,791
332
34,394
10,573
1,853
19",077
15",395
1,518
20,499
1,203
30,856
1,089
10,927
2,297
579
300
266
266
450
1,054
2,172
620
"603
353
874
925
213
434
738
6,094
2,538
4,005
10,525
2,538
'163
"46
""32
"185
"283
165
208
421
302
149
105
216
1,461
946
Galveston
Houston
946
15,409
7,992
Corpus Christi.
New Orleans.
Mobile..
.
Jacksonville
...
Savannah
Charleston.
Lake Charles
Wilmington
Norfolk
Baltimore
Totals this week.
55,581
65,125
46,759
%}. to 2%j. higher.
Transactions totaled 5,130 bales.
The average spot price
of crack double extra eased 1%}.
Grade D rose 7^ yen at
Yokohama, and 10 yen higher at Kobe.
At Yokohama
futures were 16 to 20 yen higher and at Kobe futures were 15
to 19 yen higher.
Yen exchange broke %c. to go to a low
for the year of 28%c.
Local closing: Oct., 1.69% Nov.
1.66; Dec., 1.63% Jan., 1.62; Feb., 1.61; March, 1.61;
April, 1.61%
On the 5th inst. futures closed 23^ to 4c. up.
Sales totaled 870 bales.
Grade D at Yokohama rose 7K
yen, bringing the price to 755 yen.
At Kobe Grade D rose
10 yen to 755 yen.
At Yokohama Bourse quotations were 6
to 9 yen higher, and at Kobe futures were 3 to 7 yen higher.
Cash sales for both centers totaled 1,175 bales, while futures
transactions totaled 3,725 bales for both Bourses.
The yen
went back to 29c. in Kobe, a gain of %.
Local closing:
Oct., 1.72; Nov., 1.69; Dec., 1.67; Jan., 1.65% Feb., 1.65;
March, 1.64; April, 1.63%
On the 6th inst. futures closed
lc.
to
3c.
down.
Sales
870 bales.
were
There
was
very
little
feature to the trading or to the news from Japan.
exchange broke %3. in both Yokohama and Kobe,
being reported at 28% and 28 %e., respectively.
Grade D
was 5 yen higher, ruling at 760 yen at both Yokohama and
Kobe.
Bourse quotations were 4 yen higher to 1 yen lower
at Yokohama and 5 yen up to unchanged at Kobe.
Cash
sales were 1,575 bales for both Bourses, while futures trans¬
actions totaled 4,050 bales.
Local closing: Oct., 1.71;
Nov., 1.66; Dec., 1.65; Jan., 1.63% Feb., 1.63% March,
1.62%
On the 7th inst. futures closed 2c. down to %?. up.
There was little trading enthusiasm, there being nothing
stimulating in the news from abroad or from domestic sources.
Cables from Japan reported Grade D at 750 yen, a loss of
5 yen for both Yokohama and Kobe.
The Yokohama
Bourse closed l yen. higher to 2 yen lower, while /the Kobe
Bourse closed 1 to 4 yen lower.
Cash sales for bom markets
were 1,250 bales, while transactions in futures totaled 2,525
bales.
Local closing:
Oct., 1.70% Nov., 1.66% Dec.,
1.63% Jan., 1.62% Feb., 1.62; March, 1.61% April,
1.60%-May, 1.60%
On the 8th inst. futures closed % to 2%?. lower.
Sales
totaled 1,300 bales.
A single notice was posted against
October.
Cables reported grade D 10 yen lower at Yoko¬
hama and Kobe, both centers quoting 745 yen for the grade.
Bourse quotations were 10 to 15 yen lower at Yokohama and
6 to 11 yen lower at Kobe.
The yen at Kobe went to 28%c.,
a loss of
%c.
Cash sales for both centers were 675 bales,
while futures transactions totaled 2,450 bales.
Local closing:
Oct. 1.68% Nov. 1.65; Dec. 1,62; Jan. 1.60; Feb. 1.59%
March 1.60; Apr. 1.59% May 1.60.
Today futures closed
unchanged to 1%. up.
Sales totaled 72 contracts.
The
New York spot market price of crack XX declined %i. to
$1.71% The Yokohama Bourse closed unchanged to 5 yen
higher.
The price of grade D in the outside market was
unchanged at 745 yen a bale.
Local closing: Oct. 1.70;
Dec. 1.63% March 1.61; Apr. 1.60; May 1.60.
Yen
"
Friday Night, Oct. 9, 1936.
The
Movement
of
the
indicated by our tele¬
grams from the South tonight, is given below.
For the week
ending this evening the total receipts have reached 330,033
bales, against 319,754 bales last week and 314,287 bales
the previous week, making the total receipts since Aug. 1,
1936, 2,082,957 bales, against 2,103,438 bales for the same
period of 1935, showing a decrease si neb Aug. 1, 1936, of
20,481 bales.
Crop,
as
72,849 330,033
1,1936 and stocks tonight, compared with
total since Aug.
Stock
1935
1936
Receipts to
This
City
Texas
1, 1936
Corpus Christi —
Beaumont
New Orleans
Mobile
879
266
Pensacola, &c
1936
1, 1935
4,005
171,8f9
202,881
20,680
93",064
74*722
Lake Charles
Wilmington
3,081
44,422
2,525
11,252
33,875
11,366
25,558
88,933
31,853
11,728
26,636
86,118
43,232
4,448
6,099
10,525
2,538
814
.....
Norfolk
1,461
,1,334
3,166
528,562
6,382
414,922
81,293
30,413
584,642
124,960
26,158
5,168
50
350,457
74,445
27,440
592,892
112,774
15,597
3,517
Brunswick
Charleston
1935
624,342
420,876
10,303
358,588
217,790
30,638
532,459
128,978
65,618
3,257
181,473
390",892
6,375
3,012
108,289
8,534
Jacksonville
Savannah.
Week
245.968
6,495
537,448 109,449
78,102 27,931
5,249
53,426
153
3,032
80,136 27,580
75",510
Houston
{Since Aug
64,351
2,409
87,142
10,941
23,907
541,446
106,879
Galveston
This
Since Aug
Week
Oct. 9
Newport News—
"
""166
New York
5,602
5,075
946
Baltimore.
297
6,115
583
825
Boston
1,475
2,196
Philadelphia
Total
330,033 2,082,957 387,060 2,103,438 2,124,914 2,172,191
In order that
we
comparison
may
be made with other
years,
give below the totals at leading ports for six seasons:
106,879
75,510
108,289
50,315
8,-34
4,005
.
.
64,351
87,142
109,449
27,931
27,580
75,016
72.001
4,530
4,776
10*525
Houston
New Orleans
Mobile
Savannah
BrunswickCharleston
1934
1935
1936
Receipts at—
Galveston
20",080
"2",643
1933
1932
114,424
131,106
78,296
4,392
9,441
814
1,324
605
1,461
Norfolk
3,166
1,726
1931
99,803
105,308
267,009
37,233
15,520
19,032
5,671
10,702
5,168
4,999
103,630
50,549
9,649
5,663
2,188
7,475
.
Wilmington..
7,959
1,341
2,548
2,640
3,422
N'port NewsAll others....
14*616
46,037
28~,99l
27*287
62,006
48,756
Total this wk.
330,033
387,060
240,603
376,794
347,025
519,398
Since Aug. 1
2,082,957 2,103,438 1,598,508 2,542,313 2,164,555 2,509,150
.
The exports
of
for the week ending this evening reach
177,109 bales,
of which 31,286
were
to
a
total
Great Britain,
55,590 to France, 19,002 to Germany, 9,024 to Italy, 33,404
to
Japan, 400 to China, and 28,403 to other destinations.
In
the corresponding week last year total exports were
109,555 bales.
For the season to date aggregate exports
have been 954,966 bales, against 871,062 bales in the same
period of the previous season.
Below are the exports for
the week.
,\-
Week Ended
Exported to—
Oct. 9, 1936
Exports ftorn—
Great
Britain
Galveston.....
Houston
4,182
5,510
Corpus Christi.
BeaumontNew Orleans...
4,425
6,315
Ger¬
France
14,733
6,965
3,134
many
4,903
3,363
Italy
6,173
2,851
Japan
15,610
China
300
Other
2",756
11,602
5,984
1,219
7",738
7" 172
2",797
Mobile
27~817
2,941
5,641
4,133
1,426
Pensacola, &c..
Charleston
6,138
300
"766
1,534
7,800
1,534
Los
Total
57,503
24,673
7,109
2,797
52,793
14,815-
300
Savannah
962
7~306
100
7,785-
31,286
Angeles...
Total.
55,590
19,002
9,024
33,404
400
28,403 177,109
12,978
7,978
15,212
12,010
3,176
7,576
26,852
3,228
39,306
6,027
19,858 109,555
9,812 101,284
385
Total
1935....
28,251
Total
1934....
18,575
From
Exported to—
Aug. 1,1936,to
Oct. 9. 1936
Great
Exports from—
Britain
Galveston
Houston
Corpus Christi
Beaumont
New
Orleans.
_
Lake Charles..
Mobile
Jacksonville.
__
Ger¬
France
22,142 50,263
36,693 39,884
37,803 34,754
200
4,669
24,333 51,754
2,011 10,615
21,392
3,759
432
"69
Norfolk
201
"427
Gulf port
616
473
Charleston.
Wilmington.
New
_
Total
Total
...
York
Los Angeles...
San Francisco.
1935
Total 1934
many
Italy
Japan
28,754
21,194
8,628
15,608
11,531
5,282
97,939
45,624
51,931
17*963
6*,863
China
26",783
672
Other
38,072
26,370
18,628
166
957
358
355
~~50
15,301
22~,6l7
129
12,316
1,432
12,849
16,449
10,591
2,538
2,127
3~,219
"501
2,850
655
2,375
2,012
"3*301
"142
50
745
"l~907
"l60
194
Total
253,450
181,654
157,381
4,869
150,313
18,538
41,026
1,426
38,217
48,633
36,495
1,200
4,071
1,305
994
18,729
29,154
23,892
1,200
Savannah....
COTTON
814
following table shows the week's total receipts, the
Pensacola, &c.
v
39,324
53,395
879
last year:
week.
Silk—On the 3d inst. futures closed
991
Pensacola, &c_.
On such
purchase prices were steady compared with last
Combing quarter-blood Ohio wools brought 37 to
38c. in the grease.
Combing three-eighths-blood Ohio wools
were
quiet, but firmly quoted at 38 to 39c. in the grease.
Wool consumption has been running behind the 1935 level
so far this
year.
Consumption for the first eight months
totaled 173,000,000 pounds, compared with 190,000,000
pounds last year.
However, consumption has almost
dpubled the 1934 mark. At the Australian sales last Tues¬
day, demand from Yorkshire was strong and France made
increasing purchases, The. market was firm on the basis of
improved prices of the previous week.
At Melbourne com¬
petition was reported as keen, with prices 5% above the
previous week.
-
597
17,794 106,879
27,129 75,510
6,375
1,125
3,012
3,012
11,535 108,289
1,436
8,534
12.259
8,687
1,108
Beaumont
The
Total
Fri.
Thurs.
Wed.
Man.
Sat.
Receipts at—
will be
745
500
12,584
137
22
100
19
227,656 192,358
135,428
44,719
237,733,
1,485115,617
954,99ft
182,513105,209
129,021' 86,711
136,062
66,372
72,483
219,103
302,659
4,928l156,8t75
871,062
923,219
139,930
34,754157,661
NOTE—Exports to Canada—-It has never been our practice to include In the
above table reports of cotton shipments to Canada, the reason being that
virtually
all the cotton destined to the Dominion comes overland and it Is impossible to give
Volume
returns
Financial
143
concerning the
same
from week to
week,
while reports
the customs
rom
districts on the Canadian border are always very slow in coming to hand.
In view,
however, of the numerous inquiries we are receiving regarding the matter, we will
say that for the month of July the exports to the Dominion the present season
been 9,720 bales.
In the corresponding month of the preceding season the
For the 12 months ended July 31, 1936, there were
243,777 bales exported, as against 221,335 bales for the 12 months of 1934-35.
have
exports were 25,259 bales.
In addition to above exports, our
telegrams tonight also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named:
Chronicle
2393
moderately good session. This department of trade was also
reported awaiting the Government cotton report to be issued
tomorrow (Thursday).
Average price of middling in the ten
designated spot markets was 12.07c., compared with 12.09c.
Tuesday.
On the. 8th inst. prices closed 4 points down to 3 points
The
up.
trade
generally
ment estimate of about
issued
On Shipboard Not
Oct. 9
Leaving
Great
Britain
Galveston
700
Houston
New
Orleans
__
6,798
5,925
Ger¬
11,100
5,219
7,206
Other
Coast¬
many
France
Foreign
wise
5,000
3,140
9,563
2",400
115
74,607
3,263
"115
Charleston
575,542
319,190
561,690
171,079
109,511
25,558
172,290
48,800
31,267
31,202
152
800
Mobile
800
3,000
29,000
15,958
8,508
Savannah
Stock
Total
,
"863
Norfolk
Other
ports
1936.
1935--
Total
1934.
.
.
15,823
15,394
5,095
Speculation
in
ately active, with
to
as
23,525
15,251
8,656
17,703
11,303
10,126
cotton
for
far
delivery
traders generally showing
was
by
disposition
report, which was published
the trade,
market movements
moder¬
caused
were
relatively
concerned.
ing continued to dominate the market, more
was
gen¬
little
stir
Hedge sell¬
or
less.
a
govern¬
indicated
yield
a
11,60.9,000
of
bales.
marked effect
on
the trade, judging from fluctuations following the re¬
port.
Prices eased off 3 to 7 points under moderate selling.
At
one
of
11
time
the
points,
market
both
not
to have
appear
any
during the session the market showed advances
29
to
be
to
and
results at the close
net
buying orders
after
executed
mills
from
the
but
Some good
unimportant.
through
the
were
reported
were
in
figures were posted,
commission
houses.
But
this purchasing failed to have a sustaining effect on values.
Street
seemed
favor
to
the
buying
Action
side.
of
the market, on the
whole, indicated no radical change in the
The report that 6,030,941 bales had been
general outlook.
ginned
prior
reported
crop
preted
53.2%
or
This
the
was
of the indicated yield,
largest percentage of the
ginned for 12 years at least.
indicate
to
1,
Oct.
to
attracted attention.
a
This report, proving to be about what
expected
as
3,267 115,447 2,009,467
1,200 101,360 2,070,831
1,375 92.085 2,799,552
55,129
58,212
66,833
future
await the government crop
erally
figures did
Wall
Total
Total
Thursday.
Thursday
These
Cleared—for
at—
been looking for
had
11,500,000 bales, whereas the report
rapidity and
that
that
the
has
crop
It
was
inter¬
with
moved
great
the
peak of the movement had either
been reached or passed.
Average price of middling at the
10 designated spot markets was 12.05c.
Today prices closed 5 points down to 8 points up.
Busi¬
<
On the 3d. inst.
prices closed 6 to 8 points down. Trading
was active with the tone
barely steady. Hedge selling was
the principal factor operating against the market.
Trade
buying was active and demand from mills sufficient to counter
much of the hedge selling pressure, though towards the close,
offerings from the South were in such volume that prices
yielded and closed at the lows of the day. For the first time
in weeks the official weather map showed no rainfall at any
point in the cotton belt. The long-range forecast called for
continued fair weather and conditions were highly favorable
for picking and marketing cotton.
Cotton which had ac¬
cumulated during the long rainy period, came on the market
in volume and there was a persistent flow of hedge selling.
Underlying conditions in the domestic spot position were
regarded as exceptionally favorable. The demand for spot
cotton was described as being on a tremendously large scale,
with the spot basis at Southern points advancing as a con¬
Average price of middling at the ten designated
sequence.
spot markets was 12.18c.
On the 5th inst. prices closed 3 to 5 points higher.
Trading
was comparatively quiet with fluctuations within a narrow
range.
However, the undertone was steady throughout the
session.
There seemed to be a general
disposition to await
the Government report to be published Thursday.
Aside
from some hedge pressure, offerings from the South were
light despite favorable weather over the week-end for harvest¬
ing and marketing of the crop.
All attention seems now
focused on the forthcoming Government estimate.
There
were four private
crop forecasts issued Monday, including
Fairehild .Publications,
11,675,000
bales;
International
Statistics
Bureau,
11,697,000;
American
Cotton
Crop
Service, 11,363,000, and correspondents of Orvis Bros.,
11,443,000 bales.
The average of six estimates received to
date totals 11,512,000 bales, with a range of 11,331,000 bales
to 11,697,000 bales.
The demand for spot cotton in the
South continues at a good pace.
Average price of middling
in the ten designated spot markets was 12.20c., compared
with 12.18c. Saturday.
On the 6th inst. prices closed 8 to 12 points down.
Hedge
selling was again the chief factor operating against prices.
What little support the market received came from shorts
covering and moderate buying on the part of the trade. At
no time was the demand aggressive.
There were 78 October
notices issued, which resulted in considerable selling of this
contract.
with
The volume of sales increased towards the close,
aggressive
hedging
through cooperatives and spot
ring gossip that these interests
sold over 50,000 bales during the day.
The feature of the
opening was the selling of some 5,000 bales of December and
March by brokers with Japanese connections.
The sub¬
stantial increase in exports for the season to date attracted
considerable attention, shipments for this period totaling
923,947 bales, or almost 54,000 bales more than for the like
period of last season. As previously stated, attention of the
trade is now focused on the Government report which is due
to be published this Thursday.
Private estimates on the
crop range from 11,301,000 to 11,697,000 bales.
Average
price of middling at the ten designated spot markets was
12.09c., compared with 12.20c. Monday.
On the 7th inst. prices closed 5 points down to 4 points
houses in evidence.
It
was
_
Trading was fairly active, with price trends more or
less irregular.
There was a general disposition to even up in
preparation for the Government report to come out Thurs¬
day. Hedge selling was quite active. A moderate amount of
liquidation in October came out against the issuance of 34
October notices.
Offerings were taken mostly by spot
houses and the trade, with the former a good buyer of the
near
months.
The crop prospects, according to private
estimates received, range from about 11,300,000 to 11,900,000 bales.
It is believed the market has discounted a crop
ness
in
fairly active, with
was
December
ests.
Wall
the
eastern
of
11,500,000
bales.
Worth
Street reported
a
and
eight October notices
month
Cotton
not
were
interested
in
a
Textile
at the present
prominent
more
spot
portion of the belt
During
were
statement
inter¬
the
early
were
trading
re¬
about
posted, but the dealings in that
large.
Traders were greatly
made
Institute in
by
the
which he
President
said
that
of
the
production
approximately the best since 1927, and
no danger of overproduction.
J
time there is
Premiums
Differences between grades established
on contract to Oct.
16,1936
are
the average quotations of the ten
50%
of average Of
markets quotin
for deliveries on
six
for deliveries
Oct. 8,1936
15-16
good amount of hedge selling
unusually
of cotton goods was
Staple
a
the
southwestern
unfavorable.
as
nch«fe
markets designated by the
Secretary of
Agriculture.
—
inch
longer
.31
.55
.31
.55
.31
.55
..White
Strict Good Middling.,
do
Good Middling
do
.31
.55
Strict Middling
do
.31
.55
Middling
do
.26
.47
.22
.38
Strict Low Middling
Low Middling
do
Middling Fair
.74
Mid.
on
.63
do
.54
do
35
do
Uaslp
do
do
40 off
Mid.
1.20
do
♦Strict Good Ordinary.,
do
1.80
do
♦Good Ordinary
do
2.32
do
.55
Good Middling
.31
.55
Strict Middling
do
do
.31
.55
Middling.
do
do
.26
.47
.22
.38
.31
Extra White
Strict Low Middling...
Low Middling
*.54
do
on
.34
do
01
do
^
do
do
do
do
1.19
do
♦Strict Good Ordinary.,
do
do
1.80
do
♦Good Ordinary
do
do..
2.32
do
.27
.48
Good Middling..
.27
.48
Strict Middling
.21
.39
Middling
.33
.16
.33
.17
do
do
on
.07 off
do
.52 off
do
do
do
1.24
do
do
♦Low Middling.
.16
.49 off
Spotted
do
♦Strict Low Middling
1.91
do
Good Middling
Tinged
Strict Middling
do
35 off
do
.53
do
♦Middling
do
1.16
do
♦Strict Low Middling...
do
1.86
do
2.37
do
♦Low Middling
do
"Good Middling
.32
.16
Yellow Stained
..1.24 off
do
♦Strict Middling
do
do
173
do
♦Middling
do
do
2.23
do
;
.16
.32
Good
.16
.32
Strict Middling
Middling
Gray
•
.52 off
do
do
.77
do
do
•Middling
1.22
do
Not deliverable on future contract.
The official
quotation for middling upland cotton in the
New York market each day for the past week has been:
Sat.
New York
The
quotations
Mon.
Tues.
Wed.
12.45
Oct. 3 to Oct. 9—
Middling upland
12.48
12.37
12.38
Thurs.
12.39
Fri.
12.29
Quotations for 32 Years
for
middling
upland
New
at
York
on
Oct. 9 for each of the past 32 years have been as follows:
12.29c.
11.30c.
12.25c.
1936
1935
1930
1929
*
19.55c.
1920
24.00c.
1912
1927
20.90c.
1919
33.15c.
1911
1926
1918
32.05c.
1910
14.65c.
13.60c.
9.00c.
11.05c.
9.75c.
9.65c.
1932
1931
1928
-
1925
13.45c.
22.10c.
1917„L„27.95c.
1909
6.65c.
1934
1933
1924
24.85c.
1916
1908
5.80c.
10.20c.
18.65c.
1923
1922
28.35c.
1915
17.00c.
12.30c.
21.80c.
1914
*11.00c.
1906
10.90c.
1921
20.10c.
1913
13.70c.
1905
10.10c.
1907
-
11.85c.
Aug. 17.
Market and Sales at New York
Spot Market
up.
estimate
May by
Street, Liverpool and the trade, also the Conti¬
on the buying side.
Reports of further rains in
nent, were
garded
and
Closed
Saturday—
Monday
Tuesday
Wednesday.
Thursday
Friday
__
Quiet, 8 pts. dec
Steady, 3 pts. adv..
Quiet, 11 pts. dec
Steady, 1 pt. dec
Steady, 3 pts. adv..
Quiet, 10 pts. dec
SALES
Futures
Market
Closed
Barely steady.
Steady
Barely steady.
Steady
Steady
Steady
Spot
2",900
2,700
1,500
2,800
2.700
9,900
16,300
10,200
35,813
"300
Since Aug. 1
19,513
highest, lowest and
week have been
2,966
1,500
2,800
.
300
New York for the past
Total
.
Total week.
Futures—The
Contr'ct
300
closing prices
follows:
as
at
Financial
2394
Saturday,
Monday,
Tuesday,
Wednesday,
Thursday,
Oct. 5
Oct. 6
Oct. 7
Oct. 8
Oct. 10, 1936
Movement to Oct.
Friday,
Oct. 3
Chronicle
Towns
Oct.
Receipts
ments
Range.
Nov.—
—
Range
;
515
Montgomery
3,308
4,380
18,030
3,523
6,236
5,922
2,728
18,448
2,710
8,502
5,794
Eufaula
.
Closing
.
11.89m
11.92m
11.91m
11.94m
12.05m
12.03m
Selma
Dec.—
Range
Closing
.
11.99-12.05 11.96-12.03 11.90-12.04 11.81-11.91 11.81-12.14 11.8^-11.96
12.02-12.03 11.90-11.91 11.86-11.88 11.85-11.86 11.84-11.85
11.99 —
Ark., Blythville
Forest City..
.Jan. (1937)
Helena
11.96-12.03 11.93-12.00 11.88-12.01 11.80-11.90 11.81-12.12 11.81-11.94
Range.
11.82
11.83—
11*87 —
11.88 —
12.00 —
Closing. 11.96 —
Feb.—
Hope
.
Jonesboro
Little Rock-
Newport
Range..
Closing
.
11.84m
11.87m
11.86m
11.88n
11.99m
11.96m
Pine Bluff
Walnut Ridge
March—
11.85-12.13 11.87-11.97
Range.. 11.95-12.01 11.94-12.00 11.88-12.01 11.83-11.94
11.87-11.88
11.89-11.90 11.87
11.89 —
Closing. 11.96-11.97 11.99 —
Ga.,
Closing
May—
.
5,720,
10,748'
Augusta
11.98m
11.94n
11.89m
11.87m
11.89n
11.89m
300
Columbus...
Macon
11.84-12.12 11.89-11.97
Range.. 11.91-11.97 11.89-11.97 11.85-11.98 11.82-11.92
11.88 —- 11.88-11.89 11.87-11.88 11.91
11.96 —
11.92
Closing
.
La., Shreveport
Columbus.
Range..
Closing
.
11.88m
11.82m
11.84m
11.82m
11.91m
11,86m
1,575
10,514
11,056-
663
Yazoo City-
Mo., St. Louis.
N.C.,Gr'nsboro
Range..
Closing
.
43,673;
9,724
16,213
32,583
40,252;
2,212
5,843;
4,649,
Vicksburg
_
125,735,
6,635
Natchez
11.70-11.80 11.75-42702 11.79-11.89
Range.. 11.80-11.85 11.78-11.87 11.75-11.85
11.76-11.77 11.84
11.85-11.87 11.75-11.77 11.79
11.80
Closing
Aug.—
59,629
72,398
22,054
2,502
19,3171
__
Greenwood..
Jackson
July—
21,294'
3,323!
4,067|
Rome
Miss.Clarksdale
June—
8.2911
78,682
10,292
35,935
15,989;
9,316
5,675
20,736
88.874
4,075
1,425
Atlanta
Range..
13,524'
28,516
29,579,
437,
Albany..
Athens
April—
8,019'
95
9
10,875
10,017
1,180
7,637
10,660
8,569
2,847
3,987
3,082
60,329
56,289
24,017
8,982
1,586
2,655
2,548
949
24,420
17,380
9,957
1,103
40,777
3,182
53,112
2,621
1,623
1,990
3,501
21,621
431
9,583
1,657
12,332
1,513
6.424
3.425
13,034
18,508
1,770 15,681
3,692 48,708
2,938 20,378
712 18,691
945 20,682
1,932 76,471
8,121136,994
200 33,650
1,024 39,169
500 21,482
6,837. 43,621
....
4,849
1,725
5,817
11,448
1,500
1,921! 31,137
8,672' 89,076
2,680, 34,997
2,095
7,352
1,3111 13,766
2,362 27,269
3,750
3,271
983
328
16,714
5,481
1,388
2,914
1,426
Range—
Closing.
Nominal.
__
__
.
_
..
.
„
Range for future prices at New York for week ending
Oct. 9, 1936, and since trading began on each option:
3,219
12,528
74,956
316
17,156
5,176, 58,637
2,914
1,150
13,627
15,083
52,084
521
73,100
5,480149,108
600
-
47,744
15 towns *
7,419
6,541
S.C., Greenville
Tenn..Memphis 167,394
14,911
Texas, Abilene.
Austin
1,647
4,369
7,282
20,644
40,930
62,432
500
18,499
8,505
1,293
87,161
31,242
270
6,724
1,391! 14,213
1,897. 28,016
3,27l|
Oct.
11.87
1936.
8 12.10
Oct.
6 10.42 Sept.
9.80 Jan.
Oct.
Nov. 1936.
1936.
li."81~Oct"~~7 \2~.U~6ct~
Jan.
1937.
11.80
Feb.
1937.
Dec.
91,720
6,180
2,692
42,013
371
5,0361117,956
2,407 40,819
29,838
33,632
424,218
6,538
7,274
14,382
786
35,320573,444
1,802
1,698
4,122
1,362
670
Robstown...
10 1936
8 1936
23 1836
11
"70" Oct" "7 121)2" Oct"""8
10 1936
10 1936
Mar. 27 1936 12.78
July
335
589
155
9,260
280
747
100
381
2,799
3,957
17,058
37.875
3,638
8,653
11,910
9,481
11,016
3,211
9,137
40,444
11.82
Oct.
7 1936 12.12
Oct.
1
1936 12.78
July
10 1936
11.70
Oct.
7 1936 12.02
Oct.
8 1936
Aug. 29 1936 12.55 July
27 1936
as
figures are brought down to Thursday evening.
To make
the total show the complete figures for tonight (Friday) we
add the item of exports from the United States, for Friday
only.
Oct. 9—
Stock at Liverpool
1936
667,000
74,000
1935
372,000
1934
*
49,000
741,000
119,000
129,000
10,000
40,000
27,000
8,000
6,000
421,000
170,000
64,000
12,000
25,000
60,000
10,000
5,000
959,000
350,000
140,000
23,000
56,000
40,000
11,000
9,000
Total Continental stocks
339,000
346,000
629,000
the
Total European stocks
108,000
51,000
400,000
Stock at Havre.
Stock at Rotterdam
Stock at Barcelona
Stock at Genoa
Stock at Venice and Mestre
Stock at Trieste
India cotton afloat for Europe.._
American cotton afloat for Europe
Egypt, Brazil,&c.,afl't for Europe
156,000
Stock in Alexandria, Egypt
213,000
Stock in Bombay, India
.^685,000
Stock in U. S. ports
2,124,914
Stock in U. S. interior towns
1,980,336
—
U.S. exports
19,745
today
above
totals
show
that
.6,709,995- 6,045,144 7,597,143 8,570,854
Of the above, totals of American arid other descriptions are as follows:
for the week and since
Aug. 1,
187,000
—
Bremen stock
Havre stock...........
...
Other Continental stock
American afloat for Europe
S. exports
20,000
93,000
42,000
58,000
311,000
246,000
40,000
290,000
113,000
80,000
Week
Via St. Louis
1,980,336 1,990,723
19,745
today
16,230
200
"150
l',668
33,779
45,196
35,653
164,575
18,402
108,132
946
6,115
3,056
76,085
297
7,864
2,254
2,053
51,132
9,129
85,256
5,458
55,439
26,524
79,319
12,944
52,693
319
Total to be deducted
Leaving total net overland *
1,644,128
16,878
1,657,587
24,543
271,000
641,000
354,000
29,000
78,000
22,000
53,000
54,000
32,000
60,000
27,000
59,000
72,000
foregoing shows the week's net overland movement
been 26,524 bales, against 12,944 bales for
year, and that for the season to date the
this year has
the week last
aggregate net overland exhibits
of 26,626 bales,"
"
Other Continental stock.
Indian afloat for Europe
In
Takings
year ago
-1935Since
Week
Aug. 1
Week
330,033
26,524
Oct. 9-.135,000
2,082,957
79,319
1,290,000
Excess of
Southern
3,452,276
773,919
Aug. 1
2,103,438
387,060
12,944
70.000
491,557
148,310
Net overland to Oct. 9
Southern consumption to
470,004
206,234
mill
"takings
•
^
52,693
757,000
2,913,131
866,386
-
consumption to Sept. 1
*150,471
156,000
Total visible supply
rpo
diddling uplands, Liverpool—__
diddling uplands, New York
157,000
153,000
75,000
135,000
442,000
220,000
715,000
282,000
616,000
*142,675
676,238
4,075",724
.
245.195
3,636",842
23,393
,
198,110
Movement into sight in previous years:
Week—
Bales
1934—Oct. 12
1933—Oct. 13
1932—Oct. 14..
Since Aug.
405,571
1934
641 945
546,226
1
Bales
>
1933
1932
2,785,084
4,102,551
.3,420,134
—
Quotations for Middling Cotton at Other Markets
Closing Quotations for Middling Cotton on-
12.29c.
11.20c.
Week Ended
9.02d.
12.65c.
8.65d.
9.35c.
10.91d.
7.76d.
Oct. 9
5.76d.
7.76d.
5.80d.
5.32d.
4.54d.
Saturday Monday
Wed'day Thursday
331,871 bales, a gain of 664,851 bales
of 887,148 bales over 1934, and a
over
1935,
decrease
a
of
12.10
12.17
12.07
12.00
12.00
New Orleans.
5.77d.
1,860,852 bales from 1933.
is,
the
receipts for the week and since Aug. 1, the shipments for
the week and the stocks tonight, and the same items for the
corresponding period of the previous year—is set out
in
12.00
12.37
12.37
12.28
12.30
12.30
12.30
12.04.
12.07
11.95
11.91
11.90
11.89
Savannah
12.39
12.31
12.28
12.26
12.25
1?.45
12.42
12.50
12.40
12.40
12.40
12.40
12.05
12.07
11.95
11.92
11.90
12.49
12.40
12.37
12.35
12.34
11.90
11.85
11.75
11.75
12.02
12.00
12.00
12.00
11.86
11.83
11.87
11.75
11.75
11.72
11.84
11.81
11.70
11.70
11.70
11.84
12.52
12.00
12.14
11.97
11.87
_
Norfolk
Montgomery.
Augusta
Memphis
_
11.94
Dallas
Fort Worth.
12.00
12.14
Little Rock
movement—that
Friday
Mobile.
Houston
the
Tuesday
Galveston.....
Continental imports for past week have beeh 109,000 bales.
The above figures for 1936 show a
increase over last
Towns
34,214
Decrease.
6,709,995 6,045,144 7,597,143 8,570,847
6.86d.
6.50d.
6.88d.
5.44d.
RCc ow
c AAA
Sgypt, good Sakel, Liverpool
Iroach, fine, Liverpool
'eruvian Tanguis, g'd fair, L'pool
I.P.Oomra No.1 staple, s'fine.Liv
Interior
Came into sight during week... 639,867
Total in sight Oct. 9
*
74,000
60,000
....1,785,000 1,241,000 1,979,000 1,506,000
..—4,924,995 4,804,144 5,618,143 7,064,847
Total East India, &c
Total American
over a
1936Since
Sight and Spinners'
.
North, spinn's' takings to Oct. 9__
213,000
685,000
Egypt, Brazil, &c., afloat.
Stock in Alexandria, Egypt
Stock in Bombay, India
detail below:
increase
an
—TTrT-—
"
45,000
Havre stock
the
159
5,002
504,000
730,000
39,000
54,000
42,000
65,000
51,000
...
Bremen stock
At
"
Including movement by rail to Canada.
The
Receipts at ports to Oct. 9
480,000
Liverpool stock
Manchester stock.
decrease
Since
Aug. 1
16,968
10,521
3,271
3,275
3,549
8,157
Inland, &c., from South
*
1935Week
4,924,995 4,804,144 5,618,143 7,064,847
Total American...
of
from telegraphic
1,372
3,114
38,347
54,755
461
Total gross overland
n
East Indian, Brazil, Ac.—
week
have
4,490
16,788
Via Louisville
Via Virginia points
Via other routes, &c
over
.
up
Aug. 1
41,147
25,840
8,394
5,320
Via Mounds, &c
Via Rock Island
399,000
44,000
245,000
stocks
1936
Since
,,
Shipped—
2,124,914 2,172,191 2,943,137 3,705,717
U. S. ports stock
U. S. interior stock
.
101,000
35,000
66,000
87,000
25,000
400,000
......bales.
Liverpool stock
interior
made
as
TfXiZTXCCtTV*'
Manchester stock
the
week last year.
same
Deduct Shipments—
Overland to N. Y., Boston, &c_._
Between interior towns
Total visible supply
19,195
reports Friday night.
The results for the week and since
Aug. 1 in the last two years are as follows:
89,000
767,000 1,588,000 1,646,000
72,000
54,000
60,000
311,000
245,000
504,000
153,000
157,000
75,000
220,000
282,000
135.000
616,000
715,000
442,000
2,172,191 2,943,137 3,705,717
1,990,723 1,644,128 1,657,587
16,230
24,543
16,878
1,020
14,666
1,895
6,285
Overland Movement for the Week and Since Aug. 1—
We give below a statement showing the overland movement
804,000
Total Great Britain
Stock at Bremen
13,816
3,252
during the week 148,310 bales and are tonight
10,387 bales less than at the same period last year.
The
receipts of all the towns have been 64,032 bales more than
842,000
440,000
191,000
25,000
72,000
76,000
Stock at Manchester
3,084
4,202
1,063
increased
Oct. 9—
753,000
6,463
17,428
10,208
5,958
1,943
Includes the combined totals of 15 towns in Oklahoma.
The
1932
887,000
72,000
bales.
5,332
7,085
Total, 56 towns 398,017 1,843,464249,7071980336 333,9851,469,085127,7501990723
8-1936
follows.
Foreign stocks as well
this week's returns, and consequently all foreign
is
—
Waco...
39,677
8 1936
June
6,026
13,867
634
288
12,424
4,576
2,682
13,712
13,802
3,716
7,619
5,610
Texarkana
10 1936
Supply of Cotton tonight, as made up by
cable and telegraph,
are
July
8 11.83
Oct.
Aug. 1937.
The Visible
9 1936 12.78
Feb. 25 1936 12.76 July
7 1936 12.13 Oct.
Oct.
10.12
Oct.
June 1936.
1937.
3 1936 12.25 July
Jan.
11.50
7 12.13
Oct.
Mar.
9.76
10.48
7 12.12
Oct.
11.82"Oct" ""7 12712 Oct"""8
May 1937.
afloat
July
July
10.20
11.83
April 1937.
as
9 1936 12.78
9.94
Mar. 1937.
July
3 1935 12.32
63
1,985
192
779
5,32l! 46,239
45,411
6,366
567,828 103,282548,910 113,188
56,150 12,474 17,921
2,894
852
2,473
6,547
1,639
474
Brenham
Dallas
Range Since Beginning of Option
Week
or
17,100
43,037
918
750
San Antonio.
Range
ption for-
25,966
!
Paris
5
13,037
10,639
67,171
77,732
91,932
647
18,640
34,358
63,256
109,133
9,739
37,598
4,181
39,872
61,993
12,231
95,411
28,852
4,052
12,948
22,952
16,798
200
52,729
8,394
11
4,942
4,786
41,960
763 10,701
1,350 65,784
2,066 79,253
9,307'108,026
1,088 15,693
1,622 28,796
5,610 22,760
2,173 13,866
7,333 95,922
1,260
6,614
Oct.
Week
Season
I
Week
Oklahoma—
Sept.—
m
15,800
5,622
26,080
40,819,
76,574
5,362
Ala., Birming'm
Stocks
ments.
Oct.
Week
Season
Week
12.05-12.09 12.03-12.08 11.97-12.10 11.90-11.98 11.87-12.07 11.94-12.00
11.94
11.99 —
11.96 —
11.97 —
12.08 —
12.05 —
Ship¬
Receipts
Stocks
| Ship-
(1936)
Closing.
11, 1935
Movement to Oct.
9, 1936
Oct. 9
__
11.72
New Orleans Contract Market—The
for
11.90
11.69
11.69
closing quotations
leading contracts in the New Orleans cotton market for
week have been as follows:
the past
Volume
Financial
143
Saturday,
Tuesday,
Oct. 3
Oct. (1936)
Monday,
Oct. 5
Wednesday,
Oct. 6
Oct. 9
Oct. 8
Oct. 7
11.86611.88a
11.89
11.94
Bid. 11.94
120261204a 12.02
The statistics in this report include 71,859 round bales for 1936, 35,501
1935 and 86,289 for 1934.
Included in the above are 2,200 bales of
American-Egyptian for,1936, 2,128 for 1935 and 3,799 for 1934.
The statistics for 1936 in this report are subject to revision when checked
for
Friday,
Thursday,
November
December- 11.96-11.97 11.98
Jan. (1937)
—«-
11.88-11.?
119561196a 11.87
11.95
11.84
11.83-11.84 11.83-11.84
11.83
11.82
—
against the individual returns of
The revised total of cotton ginned
Consumption, Stocks, Imports
11.85
11.93
11.95
11.87
11.86
11.84
11.90
119161192a 11.84
11.84
11.83
11.86
11.77
11.80
Bid. 11.71
Bid. 11.74
11.75
Bid. 11.80
May
June..j..
July
bid
August
consumed
.
Tone—
Steady
Steady.
Quiet.
Steady.
Steady.
Strong.
Steady.
Steady.
Barely stdy
Steady.
Spot
Options...
Barely stdy Barely st'y
Agricultural Department's Report on Cotton Acreage
and Production—The Agricultural Depart¬
ment at Washington on Thursday (Oct. 8) issued its report
Condition
condition and production as of Oct. 1.
production of cotton is placed at 11,609,000 bales, which
is 971,000 bales more than last year's crop and 1,488,000
bales more than the estimate on Sept. 1, 1936.
The area
indicated for harvest is given as 29,720,000 acres which is
the area in cultivation July 1, less the abandonment after
that date.
None of the figures take any account of linters.
Comments on the report will be found in the editorial pages.
Below is the report in full:
cotton acreage,
The
United States cotton crop
A
of 11,609,000 bales is forecast by the Crop
Reporting Board of the United States Department of Agriculture, based
conditions as of Oct. 1, 1936.
This is an increase of 488,000 bales from
the forecast as of Sept. 1, and compares with 10,638,000 bales in 1935,
on
5-year (1928-32) average.
of 186.9 pounds compares
1935 and 169.9 pounds, the 10-year (1923-32) average.
During the month of September, prospects delined in Texas, but tnis
loss was more than offset by improvement elsewhere.
Tne drought which
had affected the crop in all States from Mississippi west was broken in
September.
The rains came too late to materially help cotton ifa Texas
and Oklahoma, but in the States adjoining the Mississippi River the crop
was greatly improved.
In these States the rains stopped premature open¬
ing of bolls, with resulting increases in prospective yields.
Due to favorable weather, continued improvements have been made in
the eastern part of the belt since Sept. 1.
The plants have made rapid
progress in fruiting, offsetting to a large extent their late start.
In the
Carolinas and north Georgia, however, the crop is still subject to damage
by early frosts.
The crop has opened rapidly and at present a larger than usual amount of
open cotton is exposed to possible loss from storms.
COTTON REPORT AS OF OCT. 1, 1936
9,636,000 bales in 1934, and 14,667,000 bales, the
The indicated yield per acre for the United States
with 186.3 pounds in
Reporting Board of the United States Department of Agri¬
the following report from data furnished by crop corres¬
The Crop
culture makes
pondents, field
statisticians, and cooperating State agencies.
The final
will depend upon whether the various influences affecting
during the remainder of the season are more or less favorable
outturn of cotton
the
crop
than usual.
Production
Yield per Acre
Oct. 1 Condition
(iGinnings)
Acreage
Bales (500
for
Harvest
1923-
liminary)
1932
1936
1935
1923-
Gross)
cated
age
age
{Pre¬
Lbs.
Indi¬
Aver¬
Aver¬
1936
State
1932
1935
1936 Crop
Crop
1936
1935
Indicated
Oct. 1
1,000
1,000
Bales
Lb.
Lb.
270
273
269
30
31
269
294
290
572
576
763
1,068
%
%
%
Lb.
55
65
74
67
948
61
72
68
Acres
1,000 Bis.
•
Virginia
No. Carolina..
1,403
65
66
208
261
260
744
176
235
223
1,059
54
69
66
88
62
74
74
125
165
163
31
30
349
62
68
71
256
280
329
177
240
776
58
63
66
197
206
247
317
401
2,323
2,890
1,334
11,838
2.290
2,438
57
71
73
172
226
231
1,059
1,120
58
68
82
191
228
290
1,259
56
66
76
192
218
255
556
711
60
52
139
133
118
2,956
2,915
149
117
50
567
239
853
1,070
109
bl97
Georgia
Florida
Missouri
Tennessee
Alabama
Mississippi
Louisiana
Texas
...
Oklahoma.
...
Arkansas._
New Mexico
..
Arizona
368
California
25
All other.
U.
53
2.289
Carolina..
So.
S.
Total-
29,720
55
J
1,750
53 |
56
26
56
»
58
60
188
191
210
83
i
81
85
318
398
439
75
100
84
87
91
327
405
389
135
82
94
386
524
550
239
423
9
12
10,638
Telegraph—Reports to us by tele¬
Weather Returns by
graph this evening indicate that Texas has been complaining
of too much rain.
The effects of present conditions will be
to
lower
grades and retard picking.
Most sections of the
report that rains will not increase the yield
also most sections claim that
belt
cotton
because there is no top crop,
the crop is made and nearly ail open
advent of cold weather, even frosts,
64.0
56.2
64
61.8
225
169.9
226
193
186.9
186.3
Calif.
139
(OldMex.) d.
a
99
95
c85
242
304
248
72
72
of seed cotton for ginning, b Includ¬
40,000 acres and 20.000 bales, c Short-time
included in California figures nor in United States total.
Allowances made lor interstate movement
ing Pima Egyptian long staple cotton,
average,
d Not
Cotton
Ginned from
Crop of 1936 Prior to Oct.ll
compiled from the
6,030,940 running
bales of cotton (counting round as half bales and excluding
linters) ginned from the crop of 1936 prior to Oct. 1, com¬
pared with 4,232,068 bales from the crop of 1935 and
4,962,384 bales from the crop of 1934.
Below is the report
Census report issued on Oct. 8,
individual returns of the ginners, shows
The
Amarillo
Austin.
The
(Counting Round as Half Bales and Excl. Linters)
1935
1934
mean
mean
63
mean
mean
63
67
69
68
70
67
68
mean
mean
mean
mean
mean
68
68
67
mean 71
mean 70
mean 68
mean 72
mean 72
mean 70
mean 77
mean 73
mean 71
mean 70
mean 76
mean 70
mean 74
mean 79
mean 79
mean 75
mean 81
mean 74
mean 71
mean 76
mean 72
mean 76
mean 68
mean 70
mean 62
mean 67
mean 77
mean 67
mean 68
mean 70
mean 69
mean 64
mean 68
mean
mean
mean
named at
Feet
Feet
1.1
of gaugeof gauge-
2.8
7.3
3.2
9.0
8.3
zero
of gaugeof gauge-
13.2
5.9
zero
of gauge-
8.1
2.5
zero
Memphis
zero
Nashville
Above
Shreveport
Vicksburg
Above
zero
Receipts from the Plantations—The following table
indicates the actual movement each week from the planta¬
do not include overland receipts nor
simply a statement of the
weekly movement from the plantations of that part of the
crop which finally reaches the market through the outports.
tions.
The
figures
Southern consumption; they are
Week
Stocks at Interior Towns
Receipts at Ports
Arizona
Arkansas
California..
*4,232,068
*4,962,384
714,375
31,462
630,360
54,622
Alabama
690,923
16,714
246,483
9,076
22,464
675,505
365,524
742,665
508,482
25,659
452,971
79,862
16,824
521,029
23,284
646,350
545,624
Florida
Georgia
Louisiana
1,178,567
Mississippi
131,169
9,894
118,706
115,069
278,732
147,559
Missouri
Mexico
26,755
1.550
1,395,988
North Carolina
Oklahoma
South Carolina
Tennessee
Texas
Virginia
—
States
101,729
23,124
320,520
59,251
927,989
4,390
838
4,789
of the crop of 1936 ginned
counted in the supply for the season of 1935-36,
99,787 bales of the crops of 1935 and 1934.
Includes 41,130 bales
1935
9,188
3_.
21,952
13,381
13,918
17-
16,973
20,715
24..
*6,030,940
United States.
and
mean
following statement has also been received by tele¬
graph, showing the height of rivers at the points
8 a. m. on the dates given:
10..
1936
was
72
62
69
mean 67
mean 70
mean 73
mean 67
mean 68
mean 69
mean
958
1936
1934
1935
1934
Receipts from Planations
1936
1935
1§34
July
State
*
a crop
••Thermometer
Rainfall
days
1.49 i n.
days
0.48 in.
days
1.18in.
dry
days
1.11 in.
days
0.04 in.
day
0.22 in.
day
0.04 in.
days
0.16 in.
dry
days
0.18 in.
high 86
low 58
high 82
low 42
high 88
low 50
high 88
low 46
Abilene
high 90
low 50
Brenham, Tex
2
high 86
low 60
Brownsville
3
high 88
low 46
Corpus Christi
1
high 84
low 52
Dallas
1
high 88
low 50
Del Rio
2
high 82
low 44
El Paso.
high 86
low 40
Iverrville
.1
2
Lampasas
—1 day
0.94 in. high 88 low 46
high 90
low 48
Luling
2 days
2.00 in.
high 88
low 48
Nacogdoches2 days
1.64 in.
high 88
low 52
Palestine
2 days
0.91 in.
high 84
low 50
Paris, Tex
dry
0.93 in.
high 88
low 48
San Antonio
2 days
1.24 in.
high 88
low 48
Taylor
_.l day
0.10 in.
high 86
low 50
Weatherford
1 day
1.34 in.
high 82
low 52
Oklahoma—Oklahoma City. .3 days
2.07 in.
high 92
low 49
Arkansas—Eldorado
2 days
0.52 in.
high 84
low 56
Fort Smith..
3 days
1.34in.
high 86
low 50
Little Rock
3 days
1.11 in.
high 91
low 52
Pine Bluff
3 days
1.63 in.
high 90
low 53
Louisiana—Alexandria
2 days
0.13 in.
high 89
low 51
Amite
1 day
2.68 in.
high 88
low 66
New Orleans
3 days
1.93 in.
high 90
low 56
Shreveport
2 days
0.06 in.
high 88
low 54
Mississippi—Meridian
1 day
1.44 in.
high 86
low 54
Vicksburg
3 days
0.09 in.
high 88
low 61
Alabama—Mobile
1 day
0.25 in.
high 84
low 56
Birmingham
4 days
2.31 in.
high 88
low 60
Montgomery
3 days
6.12 in.
high 86
low 72
Florida—Jacksonville
.3 days
3.61 in.
high 88
low 70
Miami
4 days
3.46 in.
high 84
low 66
Pensacola
3 days
0.82 in.
high 90
low 72
4 days
Tampa
0.29 in.
high 86
low 62
Georgia—Savannah
2 days
2.38 in.
high 84
low 58
Atlanta
3 days
1.74 in.
high 88
low 64
Augusta
2 days
1.12 in.
high 84
low 60
Macon
3 days
1.14 in.
high 87
low 64
South Carolina—Charleston.3 days
5.22 in.
high 82
low 54
Greenwood
2 days
2.48 in.
high 84
low 56
Columbia
2 days
0.98 in.
high 74
low 50
North Carolina—Ashville
4 days
4.26 in.
high 80
low 54
Charlotte
2 days
0.06 in.
high 85
low 58
Newbern
2 days
1.02 in.
high 80
low 54
Raleigh
2 days
0.11 in.
high 85
low 51
Weldon
1 day
0.34 in.
high 82
low 58
Wilmington
2 days
2.25 in.
high 82
low 59
Tennessee—Memphis
2 days
0.82 in.
high 84
low 54
Chattanooga
3 days
1.70 in.
high 82
low 54
Nashville
3 days
2
2
..2
Texas—Galveston
1936
Running Bales
All other
would not be
Rain
Ended
in full:
New
and that therefore the
factor.
11,609
72
c70
exclusive of linters, grown
26,481,000 bales, counting
bales and foreign in bales of 478 pounds lint, while
the consumption of cotton (exclusive of linters in the United States) for
the year ended July 31, 1935, was 25,283,000 bales.
The total number of
spinning cotton spindles, both active and idle, is about 154,000,000.
American in running
bl60
86 j
•The world's production of commercial cotton,
in 1935, as compiled from various sources, was
New Orleans
Lower
.
World Statistics
September
on
and Exports—United States
during the .month of August, 1936, amounted to
574,289 bales.
Cotton on hand in consuming establishments on Aug. 31
was
752,219 bales, and in public storages and at compresses 4,336,724
bales.
The number of active consuming cotton spindles for the month
was 23,433,658.
The total imports for the month of August, 1936, were
12,671 bales, and the exports of domestic cotton, excluding linters, were
182,487 bales.
Cotton
April
mail.
3,709,548
the ginners being transmitted by
this season prior to Sept. 16 is
bales.
Bid. 11.82
February
March...
2395
Chronicle
339,944
636,053
86,269
29,576
74,652
129,712
200,491
135,348
1,720,630
1,035
3,847
prior to Aug. 1 which
compared with 94,346
28,419
31-
39,742
37,205
46,866
Nil
35,853
50,199 1,384,154 1,181,3531,222,383
34,622 1,349,50211,161,4211,203,873
Nil
Nil
Nil
61,435 1,301,7651,145,008 1,179,660
50,608 1,255,364jl ,133,5631,164,839
62,636 1,206,417.1,121,54611,145,796
Nil
4,302
27,222
Nil
25,760
Nil
34,849
35,787
43,693
Aug.
38,915
52,891
56,583
55,632
1,167,40lll, 111,532 1,128,283
Nil
14..
61,492
50,645 1,144,6501,097,2831,117,581
30,140
21..
76.336
16,112
96,074
46,569 38,119
47,243 39,943
71,884 1,132,176 1,094,1241,104,626 63,862 92,915 58,929
28.. 141,365 159,138 122,533 1,140,781 1,119,686.1,102,173 149,970 184,700 120,080
7..
Sept.
201,842 188,943
271,456 215,017
340,815265,021
25.. 314,287 336,897
4..
il¬
ls..
137,090 1,219,8311,178,879'1,152,815 280,892 248,136187,732
191,728 1,339,682 1,274,08111,226,568 391,307,310,219 265,481
230,0
,499,275|1,414,6041,339,176 500,408 405,544 342,678
"
237,205 1,677,862:1,610,222,
322,464 492,874 532,515:344.223
Oct.
2..
9_.
244,4481,832,026'1,784,4891,547,572 473,918 500,519 345,826
330,033 387,060 240,6031,980,3361,990,7231,640,092 478,343 593,294337,159
319,754 326,252
The abbve statement shows:
(1) That the total receipts
plantations since Aug. 1, 1936, are 2,863,714 bales;
in 1935 were 2,969,764 bales and in 1934 were 2,089,899
bales.
(2) That, although the receipts at the outports the
from the
past week were
330,033 bales, the actual movement from
2396
Financial
plantations was 478,343 bales, stock at interior
having increased 148,310 bales during the week.
towns^
from all
obtainable; also the
sight for the like period:
are
from which statistics
sources
takings,
amounts
or
out
gone
1936
10,
Shipping News—Shipments indetail:
Bales
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
seasons
Oct.
•
World's Supply and
for the last two
Chronicle
of
GALVESTON—To Liverpool—Oct. 6—West Hobomac, 3,134
3,134
To Manchester—Oct. 6—West Hobomac,
1,048
1,048
To Antwerp—Oct. 2—Hubert, 103
Oct. 6—Lafcomo, 477
Oct. 7—Burgerdyk, 583.:—
1,163
To Ghent—Oct. 6—Lafcomo, 824
Oct. 7—Burgerdyk, 587-1,411
To Havre—Oct. 1—Oakman, 6,343—Oct.
2—Hybert, 2,317
Oct. 6—Lafcomo, 4,668
13,328
To
Rotterdam—Oct.
2—Hybert, 273—Oct. 6—Lafcomo,
338—Oct. 7—Burgerdyk, 533
1,144
To Copenhagen—Oct. 5—Labor, 551"
551
To Oslo—Oct. 5—Labor, 439
439
To Gdynia—Oct. 1—Syros, 1,867---Oct.
5—Labor, 2,417
4,284
To Japan—Oct. 7—Kano Maru. 15,910
15,910
To Gothenburg—Oct.
5—Labor, 2,610
2.610
To Genoa—Oct. 3—Monrosa, 2,304----------------------2,304
To Naples—Oct. 3—Monrosa, 200
200
To Dunkirk—Oct.
1—Oakman, 1,405
1,405
To Bremen—Oct.
1—Syros, 4,8274,827
To Hamburg—Oct.
0—Syros, 76
76
To Venice-—Oct. 1—Clara,
1,453
—'
1,453
To Trieste—Oct. 1—Clara,
1,466
1,466
To Naples—Oct. 1—Clara, 750-750
HOUSTON—To Antwerp—Oct.
5—Burgerdijk, 220
220
To Rotterdam—Oct.
5—Burgerdijk, 1,377
1,377
To Reval—Oct.
5—Burgerdijk, 13
—:
13
To Riga—Oct.
5—Burgerdijk, 150-150
To Liverpool—Oct.
4—Pearlmoor,
1,377
Oct.
3—West
Hobomac, 2,380
3,757
To Manchester—Oct.
4—Pearlmoor,
500
Oct.
3—West
Hobomac, 1,2531,753
To Copenhagen—Oct.
3—Labor, 449
449
To Havre—Oct.
3—Oakman, 6,965-6,965
To Bremen—Oct.
3—Syros, 2,986
;
2,986
To Hamburg—Oct.
3—Syros, 377
377
To Oslo—Oct.
3—Labor, 111
111
To Gdynia—Oct.
3—Labor, 1,197---Syros, 1,202-----2,399
r;
To Gothenburg—Oct. 3—Labor, 1,265
1,265
To Naples—Oct.
2—Monrosa, 4-_
4
-
-
Cotton Takings,
1936
1935
Week and Season
Week
Season
Week
Season
—-
•
Visible supply Oct. 2
Visible supply Aug. 1
6,378,124
-
5,564,166
4,899",258
639",867
American in sight to Oct. 9--
6,000
3,636,842
104,000
100,000
201,600
53,000
7,123,991
9,602,182
6,328,404
8,390,701
6,709,995
6,709,995
6,045,144
6,045,144
V'! 413,996
292,996
121,000
2,892,187
2,241,987
650,200
283,260
199,260
84,000
2,345,557
1,619,957
725,600
Other India ship'ts to Oct. 8Alexandria receipts to Oct. 7Other supply to Oct. 7 *b
Total supply
Deduct—
4,295",259
4,075,724
115,000
89,000
339,200
84,000
676", 238
5,000
7,000
86,000
8,000
Bombay receipts to Oct. 8
—
12,000
6,000
64,000
♦
-
-
--
-
-
Visible supply Oct. 9
—
Total takings to Oct. 9~a
Of which American
Of which other
-
*
Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
This total embraces since Aug
1 the total estimated consumption by
Southern Mills, 1,2»0,000 bales in 1936 and 757,000 bales in
a
1935—-takings
not being available—and the aggregate amount taken
by Northeriy^hnd
foreign spinners, 1,602,187 bales in 1936 and 1,588,557 bales in 1935, of
which 951,987 bales and 862,957 bales American,
b Estimated.
-
-
-
-
-
-
-
India
Cotton
Movement from All
of Indian cotton at
Ports—The receipts
Bombay and the shipments from all India
season from Aug. 1 as cabled,
To Genoa—Oct.
have been
as
3—Tripp, 2,601
6—Friesland, 7,738
Bremen—Oct. 1—Hagen, 22___Oct.
7—Veerhaven, 901--Antwerp—Oct. 3—Gand, 1,161.--Sept. 30—West Camak,
To
To
Since
Week
1934
Since
Week
Aug. 1
Since
Aug. 1
Week
5,000
115,000
12,000
104,000
3—Nemaha, 148-_-Oct. 3—Boschdijk, 47-.Sept. 30—West Camak, 700
895
3—Gand, 7,726___Oct. 3—Nemaha, 2,584,-Sept. 30—West Camak,
12,370-_Sept. 30—Louisiane, 1548 24,225
Dunkirk—Oct. 3—Gand, 2,994--_Oct.
3—Nemaha, 598--3,592
Rotterdam—Oct. 3—Nemaha, 1,003;
Boschdijk, 1,765--Oct. 7—Veerhaven, 284
3,052
Oporto—Oct. 7—Veerhaven, 150150
Bremen—Sept. 30—Hagen, 3,898
3,898
Hamburg—Sept. 30—Hagen, 1,721
1,721
To Havre—Oct.
Aug. 1
8,000
195,000
To
'
For the Week
To
Since August 1
Exports
To
Great
Conti-
Jap'n&j
Great
Conli-
Japan &
Britain
from—
ment
China
Britain
ment
China
| Total
To
To
Total
Bombay—
1936
1,000
5,000
i~66o
6,000
1935
2,000
22,000
2,000
1,000
1934..—
8,000
23,000
5,000
4,000
5,000
9,000
27,000
48,000
48,000
113,000
109,000
140,000
Other Indla-
1.000
1935
3,000
1934
1,000
Total
145,000
161,000
193,000
Sydney—Sept. 30—Wiegand, 150
To Denmark—Sept. 30—West
Camak, 450
CORPUS CHRISTI—To Japan—Oct. 3—Kano
Maru, 865—Fernbrook, 1,891
'
To Ghent—Oct.
4—Lafcomo, 905
To
Antwerp—Oct. 4—Lafcomo, 64
Havre—Oct. 4—Lafcomo, 2934.
To
1936.
6,000
3,000
14,000
7,000
39,000
42,000
20,000
6,000
15,000
50,000
58,000
93,000
113,000
11,000
3,000
2,000
20,000
4,000
2,000
22,000
2,000
15,000
29,000
24,000
44,000
46,000
25,000
77,000
106,000
141,000
113,000
109,000
140,000
To
306,000
To
To
To
Alexandria
Receipts
and
Shipments—We now re¬
cable of the movements of cotton at Alexan¬
The following are the receipts and shipments
for the past week and for the
corresponding week of the
ceive
weekly
dria, Egypt.
rvMAtnnna
a
tron
•
Oct. 7
64
200
-
1936
1935
250
-
To
To
2,428
3,887
1,057
Liverpool—Sept. 30—Hastings, 3,887Antwerp—Sept. 26—Iderwald.466--.Sept.30—Ipswich,591
Ghent—Sept 26— Iderwhld, 69
Havre—Sept. 30—Gateway City, 2,941
Bremen—Sept. 30—Ipswich, 968; Karpfanger, 3,130
Hamburg—Sept. 30—Ipswich, 35
Rotterdam—Sept. 26—Iderwald, 200—Sept. 30—Ipswich,
—-
69
.
2,941
4,098
35
100
300
________
LOS ANGELES—To
Japan—Sept. 26—Nojima Maru, 1,425; Kinsi,
1,000-y-Sept. 28—Santos Maru, 275; Asma Maru, 1,400;
Sept. 30—President Coolidge, 3,200-To Liverpool—Sept. 29—Devon
City, 385
To China—Sept. 21—Golden
Dragon, 100
BEAUMONT—To Liverpool—Oct.
1—Dakarian, 2,050
Oct. 7—
Elmsport, 450
To Manchester—Oct.
I"—Dakarian, 250
Oct. 7—Elmsport,
'
7,300
385
100
2,500
47
SAVANiNAH—To Liverpool—Oct. 5—Tulsa. 1,015
297
1,015
To Manchester—Oct.
5—Tulsa, 519
CHARLESTON—To Liverpool—Oct. 8—Tulsa, 2,975- —Oct. 1—
Glendene, 1,112.
To Manchester—Oct.
8—Tulsa,
471
Oct.
1—Glendene,
1,580
I
-1
To Ghent—Oct.
5—Gardenia, 700
>
Alexandria, Egypt,
905
-
4—Lafcomo, 250
234,000
261,000
According to the foregoing, Bombay appears to show a
decrease compared with last year in the week's
receipts of
7,000 bales.
Exports from all India ports record a decrease
of 14,000 bales during the week, and since
Aug. 1 show a
decrease of 27,000 bales.
2,756
-
2,934
_
2,000
1935
-Oct .7
MOBILE—To Manchester—Sept.
30—Gateway City, 314; Hast¬
ings, 2,114
To
1936
150
450
-
—
To Dunkirk—Oct.
4—Lafcomo, 200
To Rotterdam—Oct.
89,000
100,000
all—
1934
1,574
To Ghent—Oct.
To
Bombay
923
413
1935
Oct. 8
Receipts—
1,824
2,601
7,738
To Manchester—Oct.
To Japan—Oct.
follows:
1936
2,847
NEW ORLEANS—To Liverpool—Oct.
3—Tripp, 1,824
ports for the week and for the
for three years,
2—Monrosa, 2,847---.-
1934
-
—
_
—
-
519
4,087
2,051
-
-
Receipts (cantars)—
430,000
1,695,534
Since Aug. l._
320,000
1,007,758
Hamburg—Oct. 8—Tulsa, 962PENSACOLA—To Susak—Oct. 8—Alberta, 300
390,000
1,221,541
962
300
Totol
This
Exports (bales)To
To
700
To
This week
Since
Week
Liverpool
Manchester, &c
;
Aug.
7,000
9,000
To Continent & India
9,000
To America
Total exports
This
Since
Week
1
18,655
19,964
60,932
2,411
Aug.
8,000
This
1
Week
20,087
17,689
83,279
18",006
4,000
19,000
1,919
25,000 101,962
Since
Aug.
1
12,191
22,657
94,078
4,653
26,000'122,974 23,000 133,579
..-177,109
Cotton
Freights—Current rates for cotton from New
York, as furnished by Lambert & Barrows, Inc., are as
follows, quotations being in cents per pound:
High
Density
Liverpool
Stand-
High
Density
ard
Stand-
High
ard
Stand-
Density
ard
.30c.
.45c.
Trieste
•50c.
.65c.
Piraeus
.85c.
1.00
Manchester.30c.
.45c.
Flume
.30c.
.45c.
Salonica
.85c.
1.00
Antwerp
.30c.
Havre
*
.45c.
Barcelona
.27c.
.42c.
Japan
*
*
Rotterdam .30c.
.45c.
Shanghai
*
♦
Genoa
.45c.
.60c.
Bombay
.50c.
.650.
Oslo
.46c.
.61c.
Bremen
.30c.
45c.
report received by cable to¬
night from Manchester states that the market in both yarns
Stockholm
,42c.
.57c.
,32c.
.47c.
and cloths is
Liverpool—By cable from Liverpool, we have the follow¬
ing statement of the week's imports, stocks, &c., at that port:
Note—A cantar is 99 obs.
Egyptian bales weigh about 750 lbs
receipts for the week ended Oct. 7
430,000 cantars and the foreign shipments 25.000 bales.
This statement shows that the
Manchester
were
I
Market—Our
steady.
Demand for yarn is improving.
We
give prices today below and leave those for previous weeks
of this and last year for comparison:
32s Cop
ings, Common
Middl'g
Twist
to Finest
Upl'ds
32s Cop
Twist
d.
d.
d.
s.
d.
8% Lbs. Shirt¬
Cotton
ings, Common
Middl'g
Upl'ds
to Finest
s.
d.
s.
d.
d.
July—
3
10
10W@11«
11
@12K
24
31
9
4
9 6
9
17
7
11
9 7
@12 K
10 3
10^ @12
@97
7.18
10
@11%
8
@10 0
7.68
10
@
90
6.94
1
7.47
10
@11%
@11%
8 6
@10
8
6
@
9
0
@10 1
7.33
10%@11%
8
6
@
9
0
10
8
6
@
9
0
Of which American
10 3
.650.
.57c.
,40c.
,55c.
.40c.
.55c.
Gothenb'g .42c.
.57o.
Oct. 2
Sept. 25
46,000
662,000
194,000
58,000
19,000'
175,000
78,000
61,000
682,000
200,000
81,000
34,000
179,000
91,000
Oct. 9
56.000
667,000
187,000
37,000
13,000
209,000
112,000
Liverpool market for spots and futures
each day of the past week and the daily
closing prices of
6.68
@10
5
@11
@
9 0
6.94
spot cotton have been
Spot
Saturday
@10 5
7.02
9% @10%
8 7
@
9 1
6.48
12:15
14
10H@11^ 10 3
@10 5
6.92
9% @10%
8
7
@
9
1
6.66
loxmix
10K@11M
10
1
@10 3
6.74
9%@11
9
2
@
9
4
1
@10 3
6.70
9%@11
9
2
@
9
4
6.21
@10 3
6.70
9H@n
9
2
@
9
4
6.11
Tuesday
Wednesday
Thursday
Friday
6.33
10
follows:
A fair
P. M.
21
as
Monday
Market,
10H@12
.50c.
Naples
Leghorn
The tone of the
6.80
7.10
Total imports
Of which American
Amount afloat
Venice
Copenhag'n.42c.
7.02
6
Aug.—
7
50,000
662,000
196,000
44,000
21,000
194,000
85,000
Total stocks
Of which American
1935
Cotton
s.
z
Hamburg
Only small lots.
Sept. 18
8% Lbs. Shirt¬
d.
Rate Is open,
Forwarded
1936
4
*
z
*
28
Moderate
business
Moderate
Good
Moderate
Moderate
demand.
■
doing.
demand.
inquiry.
demand.
demand
Mid.Upl'ds
6.97d.
6.90d.
6.95d.
6.86d.
6.88d.
6.86d.
oept.
4—. 10<^@11S4 10
11
18
25
10Bj@12
10^ @11%
10% @11%
1
10
3
@10 5
6.99
9%@n
9
2
@
9
4
6.17
10
0
@10 2
6.98
2
@
9
4
6.53
0
@10 2
6.73
9%@11
9%@ll
9
10
9
3
@
9
5
9
Steady,
Steady,
un¬
Steady,
Steady,
Steady,
Steady at
6.40
Market
■
1
to
3
pts. changed
to 5 to 6
decline.
2 pts. dec.
pts. 3 to 5 pts. 1 to 3 pts.
advance.
decline.
advance.
Quiet but
Quiet but
Quiet but
opened
2 to 5 pts.
decline
1
Oct.—
2
Futures.
10% @11%
li
@12%
10 0
@10 2
7.02
10
@10
6.86
0
2
—3?
Market,
9%@11 %
@11%
io
9 5
@
9 7
6.59
4
9
stdy., 2 to stdy.,
1
@
9
6.50
P. M.
4
dec. 5 pts. adv.
5
7
pts.
dec. 2
pts.
Steady,
to stdy., 4 to 3 to 6
Steady,
pts. 5 to
decline.
8 pts.
advances
St'y, unch.
to
7
pts.
decline
Financial
143
Volume
Prices of futures at
Liverpool for each day are given below:
2397
Chronicle
affect the world wheat situation and
competition for world supplies of wheat.
materially
would
result in extreme
Oct. 3
Wed.
Tues.
Mon.
Sat.
*
to
Close
Close Noon Close Noon Close Noon Close Noon Close Noon
Oct. 9
_
_
6.66
6.63
December
d.
d.
d.
New Contract
October (1936)
6.65
-
M.
-
6.65
d.
6.70
6.61
6.63
6.64
6.60
~
-
-
-
d.
d.
d.
d.
d.
d.
d.
6.69
6.66
6.62
6.69
6.61
6.62
6.63
6.67
6.63
6.62
6.62
6.67
6.66
6.58
6.60
6.60
6.67
6.62
6.63
March
6.61
6.60
6.60
6.66
6.64
6.57
6.59
6.59
6.66
6.62
6.63
6.53
6.54
6.47
6.48
January
(1937)
—
May
6.56
6.55
6.55
6.61
6.59
July
6.50
6.49
6.49
6.55
6.53
October.
6.20
December
6.16
*
»
6.18
6.23
6.14
«.
6.19
-
-
—
»
6.20
6.54
6.48
-
.
—
6.58
6.53
6.27
6.62
6.23
6.15
6.22
DAILY
red-A.*-
DAILY
OF
PRICES
CLOSING
WHEAT
Flour—As the
result of a stronger
wheat market, flour
Spring bakery
barrel, while the winter varieties
patents advanced 10c. per
rose
5c.
Despite
lacking.
Advertised
brands
of
family
flour
rose
10c.
the stronger market, real buying interest is still
Purchases continued of odd lots only, with even
this business light.
closed % to lc. up.
The
displayed in the Chicago wheat market during this
session was due largely to the bullish crop and weather re¬
ports from Australia and the-"pronounced strength of the
Liverpool market where prices advanced 2c. a bushel.
Reports from Australia were to the effect that hot winds
were causing much damage to the crop.
The weather repor ts»
from Argentina were not any too favorable.
Export pur¬
chases of wheat in Canada were estimated as fairly large,
Wheat—On the 3d inst. prices
firmness
FUTURES IN CHICAGO
11434 11534
11434 113
11334
Fri.
Thurs.
Wed.
Tues.
Mon.
114J4
11234 113349734 9834
When Made
May 28, 1936
Sept. 2,1936
Oct. 2,1936
WHEAT FUTURES IN WINNIPEG
.11334 112 h 11224 11134
99
9734
9834
9734
May
July—
prices in this area showed general strength.
Mon.
12934
Sat.
Friday Night, Oct. 9, 1936
IN NEW YORK
Tues.
Wed. Thurs. Fri.
12834 12834 12734 12934 13034
PRICES OF WHEAT
CLOSING
Sat.
No. 2
December
BREADSTUFFS
session progressed.
bushels.
higher, wheat gradually rose as the
Open interest in wheat was 98,716,000
6.54
.......
displayed strength. The Liverpool market was
higher than due, and cables emphasized continuance of
European
political unrest.
Opening unchanged to /sc.
this market
6.59
6.56
6.27
From the start
% to l%c. higher.
To-day prices closed
Fri.
Thurs.
—
Season's High and
December
11734
May
July
11634
10234
DAILY
CLOSING
When
Sept.
Sept.
Sept.
Made
I
Season's Low and
24, 1936[December
85
24, 1936 [May
10534
28, 19361July
9634
PRICES
OF
Sat.
Wed. Thurs. Fri.
11034 1083* 10934 111^
10834 10654 10734 10934
Tues.
Mon.
11034
10834
December
May
10934
108
10934
October.:
10934 10934 10734 109
11034
}io.
undertone firm.
Weather conditions over the belt were reported as generally
favorable.
Reports of Argentine corn arriving at Eastern
ports out of condition attracted no little attention.
There
was a noticeable absence of country selling, with no purchases
Corn—On the 3d inst.
Trading
higher.
prices closed unchanged to
with
light,
was
the
Thursday.
On the 5th inst.
l^c. down. Of course, the pro¬
nounced dip in wheat was the'chief depressant in the corn
-market.
For a time this grain received some substantial
support Rnd prices rallied some, but towards the close the
although definite figures could not be obtained.
It was
market eased and ended fairly close to the lows of the day.
pointed out that during the next 60 days or more, reports
The buying was credited largely to cash interests.
For the
on wheat prospects in the Southern Hemisphere—Australia
third successive day no purchases to arrive were reported,
and Argentina—will very likely have a dominant influence
but, the shipping demand was only fair.
Further arrivals of
on world price changes, and will be given world-wide atten¬
Argentine corn were reported along the East Coast.
On
tion.
It was further pointed out that although Australia
the 6th inst. prices closed Y to %c. higher.
The firmness of
and Argentina combined, produce less than 12% of the
corn was attributed to wet weather in the corn belt.
The
wheat of the world, they contribute on the average more
moisture was looked upon as likely to retard picking of the
than 40% of the international wheat trade.
On the 5th
new
corn
crop.
Trading was light, however, with price
inst. prices closed 1 to l^e. lower.
There were a number
range narrow.
Foreign trade interests, it was reported,
of influences operating against
the market during this
expect a large acreage to corn this year in Argentina.
As
session.
There was a disappointing export trade in Canadian
of Sept. 25, that country had 195,000,000 bushels available
cash wheat, with the Winnipeg market making a rather poor
for export, according to an estimate by the Department of
showing.
Added to this was the reported weakness of
Agriculture.
On the 7th inst. prices closed Yc. to %c.
Minneapolis and Kansas City markets.
The strike troubles
down.
This grain was more or less neglected, with trading
at. Minneapolis are undoubtedly having a very unsettling
relatively light and without feature.
Arrivals on track
influence at that centre.
The foreign financial uncertainties
totaled only 19 cars, of which 5 cars were new corn.
This
are not serving to stimulate trade much.
Export business
should have had a bracing effect, but was counteracted by
in Manitoba wheats Monday was estimated around 225,000
the weakness of wheat, especially in the Liverpool market
bushels.
During the latter half of last week daily Canadian
where prices broke badly after reaching record highs.
country marketings were under 1,000,000 bushels, and
On the 8th inst. prices closed % to %c. up.
Rural offer¬
substantially below the movement at this time last year.
ings of corn continued extremely small.
But it was pointed
With the present disappointing export trade, however, the
out that an increasing amount of new corn is appearing in
lower country marketings failed to have any sustaining
primary receipts. The rise in corn futures was largely due
effect from a bullish standpoint.1 On the 6th inst. prices
to the upward movement in wheat values, and, of course,
closed
to Jgc. higher.
The chief influence in the upward
the small country offerings were not lost sight of as an
turn of prices this session was the heavy export purchasing
influence.
Today prices closed % to l%c. up.
Rainy
in Canada that totaled more than 2,000,000 bushels.
The
weather has been persistently hampering the gathering of
October delivery scored the highest level since 1930 in the
corn, and with light primary receipts and a strong wheat
Liverpool market. " An added influence in favor of domestic
market, it was natural that corn prices should firm up.
values was the report that domestic stocks of flour are
Open interest in corn was 54,119,000 bushels.
running unusually low.
Another item of interest was the
on a
to-arrive basis made since
prices
clpsed
%c.
to
^
estimates were current that the Australian
would show a reduction of 12,000,000 bushels
from last year.
There were also serious crop damage reports
from Argentina.
Canadian rural marketings of wheat were
only 887,000 bushels, the smallest for any 24-hour period
since Aug. 10, and contrasting with 3,219,000 bushels a year
ago.
On the 7th inst. prices closed 1% to lp£c. lower.
A number of factors operated against wheat values in this
session.
Liverpool experienced a sharp break of 1 % to
2«^c. a bushel.
Affected further by a break in sterling
exchange rates to a new low for the year, export business in
Canadian wheat came nearly to a complete halt.
Another
bearish influence was the fact that Minneapolis flour mills
last week booked orders for only 29% of capacity, the lowest
figures of this crop year.
Southwestern mills also en¬
countered a sharp contraction of sales.
Argentina and
Australia reported rainfalls
that greatly enhanced crop
prospects for wheat in those countries.
Additional rains
overnight were also reported in domestic winter wheat areas
in the Southwest, with seeding there said to be now prac¬
tically completed.
The rains in Argentina were described
as excellent and general,
those in Australia less so.
On the 8th inst. prices closed ^ to l%c. higher.
The
chief factor operating in favor of prices was the reported
settlement of the strike that recently has tied up the Minne¬
apolis grain and flour industry.
On the news, prices at
Chicago rose almost 2c. a bushel.
Another important bull¬
ish item was the report that as much as 1,500,000 bushels
of Canadian wheat had been bought Thursday for export.
Political developments abroad, especially in connection with
the recent Russian statement on intervention in the Span¬
ish war, were regarded as helping wheat values.
Signifi¬
cance was attached
to reports that European continental
countries were buying old and new crop Argentine wheat.
Apparently some foreign buyers do not want to take chances
report
on
DAILY CLOSING
that
wheat crop
substantial losses of Southern Hemisphere crops
which
PRICES OF CORN IN NEW YORK
Sat.
-
Mon.
DAILY CLOSING
Sat.
December.
Mon.
Season's High and
102 34
-.99
8734
94 34
Fri.
8934
86
9034
8634
December
When Made
June
2, 1936
July 29,1936
5234
May
July....
3,3936
9, 1936
Fri.
9634
9134
87 34
94 34
9034
8634
Season's Low and
When Made
Aug. 19, 1936
Aug.
Oct.
9434
8934
86
8634
December
Thurs.
Wed.
Tues.
9434
9434
90 34
-
May
July
May-..
July.
Thurs.
Wed.-
Tues.
12734 12734 12734 128
12934
PRICES OF CORN FUTURES IN CHICAGO
---12734
No. 2 yellow
8534
85
Oct.
1, 1936
prices closed %c. to %g. up.
The
firmness of this grain was due in large measure to the strength
of the other grains, especially wheat and rye.
On the 5th
inst. prices closed %c. to 1 yc. lower.
The pronounced
weakness of wheat and heavy liquidation of December oats,
were the factors responsible for the sharp declines in the
latter grain.
Prices closed at the lows of the day, with
Oats—On the 3d inst.
December off
l^c.
On the 6th inst. prices closed Y to
The principal factor operating in favor of oat values
of a decidedly improved shipping demand for
this grain.
On the 7th inst. prices closed ^c. to %c. down.
There was nothing of interest concerning this grain, prices
being influenced largely by the weakness of other grains.
On the 8th inst. prices closed % to %c. up.
There was
very little action to this market, and no news of interest.
Today prices closed %c. up.
Trading quiet and without
special feature, prices being influenced largely by the
%c.
up.
was
the report
strength in the other grains.
DAILY
CLOSING PRICES OF
Sat.
OATS IN NEW YORK
Mon.
Thurs.
Wed.
Tues.
Fri.
553*
5534
5534
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO
5434
563*
No. 2 white
Sat.
Mon.
5534
Wed.
Tues.
Thurs.
Fri.
December
423*
4034
4134
4134
4134
4134
May
July
4234
393*
4134
3834
42
3834
4134
3834
4134
3834
4234
3934
Season's High and When
Made
December
4634
Aug. 19, 1936
May
4834
3934
Aug.
Oct.
July
Season's Low and
December
3, 1936 May
5, 1936 July
2634
4034
3734
When Made
May 27, 1936
July 29, 1936
Oct.
1, 1936
2398
Financial
DAILY CLOSING PRICES OP OATS FUTURES IN
Sat.
October
Mon.
46
December.
_
—
Tues.
45%
44%
45%
—
Wed.
45%
Thurs.
44%
44%
45
Chronicle
WINNIPEG
Fri.
44%
44%
44%
44%
Exports from—
New
Barley
Bushels
494,000
448,000
OP
455:666
464,000
December..
May....
July
82%
80%
__
FUTURES
Mon.
Tues.
81%
79%
71%
71%
IN
81%
79%
81%
79%
71%
71%
Season's High and When Made
Season's! Low and
December
85%
Aug. 19, 1936 December.
55%
May
84
Aug.
4, 1936 May..
75%
July
72%
Oct.
5, 1936/ July
71
DAILY CLOSING PRICES
OF
RYE
Sat.
October.
December
Three Rivers
286,000
2,822,000
2,745,000
Same week 1935
Tues.
Flour
69
68%
68%
68%
July 1 to—
Oct. 3
July 6
1936
1936
1936
1936
1936
1936
Barrels
Bushels
Bushels
Bushels
Bushels
Kingdom.
75,500
15,260
12,500
20,500
West
69
1,514,615
934,642
2,822,000
2,745,000
visible
December
Mon.
80
_
Tues.
80%
Wed.
80%
80%
May
July.
DAILY CLOSING PRICES
OF
October
December
Mon.
64
61%
Closing quotations
were as
62%
59%
GRAIN
Manitoba No.
i,
f.o.b. N. Y_120%
Corn, New York—
No. 2 yellow, all rail
129%
IN
Wed.
61%
59%
New York
60%
58%
Thurs.
Galveston
60%
62
60
1
Fort Worth
...
Wichita
Hutchinson
St. Joseph
V '■:
.
Oats, New York—
Kansas City
Omaha
Sioux City
St Louis
No.
2 white
55%
Rye, No. 2, f.o.b. bond N. Y.__ 78%
Barley, New York—
47% lbs. malting
...100%
Chicago, cash
1
.112-147
....
Peoria..
Chicago
Duluth
Detroit
165,000
Buffalo
Spring oats, high protein.7.60@7.90 Rye flour patents.____ 5.20@ 5.45
Spring patents.
7.15@7.35 Seiminola, bbl., Nos. 1-3 10.15^10.25
Clears, first spring
6.05@6.35 Oats, good
3.00
Soft winter straights
5.30@6.10 Cornflour
3,25
Hard winter straights
6.45@6.65 Barley goods—
Hard winter patents
6.60 @6.80
Coarse
5.00
7,342,000
98,000
afloat
_
All the statements below
regarding the
movement of
On Canal
3, 1936...75,799,000
Total Sept. 26, 1936...76,205,000
Total Oct.
5, 1935...7/5,052,000
grain
Corn
Oats
Rye
Canadian—
Barley
Chicago
211,000
Duluth
19,000
Detroit—
Indianapolis..
125,000
Peoria
39,000
Kansas City..
21,000
Omaha
St.
88,000
4,000
159,000
44,000
36,000
177,000
18,000
630,000
255,000
52,000
174" 000
79,000
184,000
223,000
47,000;
187,000
10,000
14,000
463,000
2,554,000
wk., '36
Same wk., *35
Same wk., '34
Since Aug. 1—
1936
1935
1934.
415,000
437,000
—water
155,000
Total Sept.
2,(390
13~000
American.
51:666
Total Sept.
68,000
351,000
2,827,000
2,543,000
4,588,000
1,798,000.
4,102,000,
1,425,000
4,165,000 80,741,000
3,788,000152,902,000
3,730,000 79,480,000
35,273,000
17,683,000
76,973,000
31,185,000
60,514,000
17,488,000
5,227,000 34,925,000
6,340,000 24,988,000
3,855,000 21,329,000
Corn
Oats
Rye
Philadelphia
_
Baltimore
13,000
Sorel
129,000
44,000
28,000
2,000
28,000
16,000
25:666
19,000
Galveston
83"666
Montreal
Rivers.
9,000
464,000
286,000
36",000
Boston
Churchill
Halifax..
"(hOOO
"II"
12,000
9,000
627:666
"
"2:666
2,193,000
164,000
2,000
1,887,000
860,000
18,000
264,000
2,179,000
3,442,666
5,853,000
1,937,000
130,000
1,377,000
20:660
3,773,000 49,046,000
3,511,000 49,567,000
3,318,000 41,566,000
6,631,000 15,280,000
6,344,000 14,581,000
8,513,000 13,278,000
'■Corn
Oats
Rye
Barley
Bushels
Bushels
Bushels
Bushels
2,536,000
265,000
875,000
71,37l,000
70,250,000
134,804,000
5,892,000
5,562,000
5,344,000
1,722,000
1,771,000
3,120,000
6,230,000
6,238,000
3,335,000
3,773,000 49,046,000
5,892,000
-
523,000
4,832,000
6,631,000 15,280,000
1,722,000
6,230,000
3,773,000 54,938,000
8,353,000 21,510,000
3^511,000 55,129,000
8,115,000 20,819,000
3,318,000 46,910,000 11,633,000 16;613,000
shipment of wheat and
corn, as
furnished by
Week,
2
are
*
Corn
Since
Since
Week
Since
Since
July 1
July 1
.
.
July 1
1936
1935
1936
1936
1935
Bushels
Argentina
July 1
Bushels
Bushels
Bushels
Bushels
Bushels
4,354,000
3,000,000
1,151,000
1,374,000
62,100,000
18,800,000
13,668,000
17,201,000,
2
36,472,000
10,826,000
204,000
34,163,00012,142,000
21,978,000
India
/
Oct.
168,000!
1,744,000
5,854,000,
9,056,000
1,000
2,561,000
86.004,000
80,000!
440,000
1,000
6,013,000
98,226,000
Total
4,901,000
10,244,000
10,487,000 122,097,000112,575,000 12,755,000 109,141,000
98,810,000
409,000
Weather Report for the Week Ended Oct. 7—The
general summary of the weather bulletin issued joy the
Department of Agriculture, indicating the influence of the
weather for the week ended Oct. 7, follows:
Fair weather prevailed in most of the country and the week was modcool rather generally.
Subfreezing temperatures were again re-
M00
48",000
Fort William.
90:666
12,000 20,174,000
94,000
6,908,000
6,000
.8,000
270,000
1,831,000
Oth. countr's
268,000
55,000
40,000
131,000
1936
Barley
13:666
96,000
455,000
New Orleans*
Three
471,000
4,000
3~o",666 "
following:
Oct.
Australia
158,000
34,000
"8,000
115,000
12,000
995,000 10,112,000
Wheat
Exports
bbls,196lbs bush. 60 lbs bush. 56 lbs. bush. 32 lbs.
bush.56lbs. bushASlbs.
New York—
18:600
111,000
53,00
20,000
25,000
July 1, 1935,
North Amer.
Wheat
171:666
1,950,000
4,451,000
475,000
1,270,000
1,130,000
106,000
1,351,000
5,1935.-209,856,000
shown in the
Black Sea
Flour
60,000
522,000
2,834,000
3, 1936..147,169,000
26, 1936.-146,455,000
The world's
Total receipts of flour and grain at the seaboard
ports for
the week ended Saturday, Oct. 3, 1936, follow:
Receipts at-
'V.o'ob
Broomhall to the New York Produce
Exchange, for the week
ended Oct. 2, and since July 1,
1936, and
364,000 3,948,000
536,000 3,420,000
445,000; 1,421,000
409,000
.......
Total Oct.
1,000
4,000
.
Canadian
80,000
5,892,000
11,572,000
5,777,000
"2:660
75,799,000
71,370,000
3, 1936..
26, 1936..
5, 1935.
Summary—
Total Oct.
506,000
217:666
29,865,000
Total Oct.
28,000
27,000
9,000
20,000
4,000
1,000
367,000
383,000
53,000
102,000
414,000
5,000
Arthur.34,466,000
points
Total Oct.
1,184,000
1,000
22,000
537,000
1,000
26,000
Other Canadian and other
793,000
1,236,000
5,000
7,000
Sioux City...
Buffalo
100,000
130,00 )|
39,000
11,000
"Y.ooo
38,000
426:000
7,039,000
Ft. William & Pt.
132,000;
48,000
93,000
205,000:
Joseph...
Wichita
Totat
500,000
147,000
24,000
10,000
90,000
34,000
112,000
84,000
50,000
48,000
336,000
Milwaukee-
Louis
1,223,000
—
Toledo......
St.
364,000
1,088,000
...
Bushels
Montreal
bbls.lOOlbs. bush. 60 lbs. bush. 56 Z&s, bush. 32 lbs. bush.56lbs.
bushASlbs.
Minneapolis..
I"o"o"6
466", 000
32,000
30,000
7,308,000; Buffalo afloat, 421,000; Duluth, 6,243,000; Erie, 1,437,000;
Albany,
2,158,000; Chicago, 82,000; on Lakes, 966,000; Canal, 831,000; total, 20,807,000
bushels, against 19,683,000 bushels in 1935.
Saturday andfkice Aug. 1 for each
Wheat
79,000
24,000
158,000
151,000
38,000
♦Duluth—Includes 158,000 bushels feed wheat.
Wheat
Flour
1,000
100,000
Note—Bonded grain not included above:
Barley, Buffalo, 140,000: Duluth,
1,075,000; on Lakes, 286,000; total, 1,501,000 bushels, against 141,600 bushels in
1935.
Wheat, New York, 1,158,000 bushels; New York afloat, 203,000; Buffalo,
of the last three years:
Receipts at—
106,000
::::::
Total Oct.
7.90
—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
5,379,000
651,000
631,000
6,382,000
*4,704,000
Minneapolis..
Fancy pearl,Nos.2,4&7 7.60@
972,000
1,618,000
1,000
775,000
3,843,000
1,473,000
5,190,000
1,819,000
17,509,000
On Lakes..
Milwaukee
5.35@5.55
Bushels
4,444,000
2,009,000
17,000
10,694.000
Indianapolis
FLOUR
Hard winter clears
Barley
Bushels
83,000
New Orleans
59%
Rye
Bushels
afloat.
WINNIPEG
Fri.
Oats
Bushels
______
"
STOCKS
Corn
Bushels
Boston.
81%
1,000
45,000
WkeOt
United States—
follows:
GRAIN
Wheat, New YorkNo. 2 red. c.i.f., domestic—130%
Tues.
80%
56"9",666
40,733,000
22,840,000
of grain, comprising the stocks in
points of accumulation at lake and
Saturday, Oct. 3, were as follows:
V'
Fri.
"i",66o
8,000
supply
seaboard ports
Philadelphia
Baltimore
BARLEY FUTURES
Sat.
Thurs.
July I
at principal
granary
.
Sat.
Since
3
136,000
129,195
65,780
Total 1936
Total 1935
'
Oct
24.608,000
15,472,000
70%
69%
68%
July 1
10,000
Other countries
m
3
Week
5:355
73
The
Oct.
Since
1,357,000
1,455,000
Indies
Brit. No. Am. Col.
June
3, 1936
Aug. 11, 1936
Oct.
3, 1936
Week
700,678
204,984
206,000
352,000
11,000
39,953
So. & Cent. Amer.
71%
68%
68%
Corti
Since
82%
80%
DAILY CLOSING PRICES OF BARLEY FUTURES IN
CHICAGO
Wheat
Week
Continent.
Fri.
187",000
and Since
80
Thurs.
9,000
Exports for Week
When Made
Wed.
1,000
164,000
65,780
destination of these exports for the week and since
July 1, 1936, is as below:
Fri.
81%
129,195
The
FUTURES IN WINNIPEG
Mon.
69%
69%
Thurs.
"9:660
6,000
627,666
Total week 1936
CHICAGO
Wed.
"1:606
83", 000
Halifax.
Churchill
United
RYE
Sat.
"2:660
+
Sorel
Barrels
PRICES
38,195
48,000
Montreal
wholesome effect.
CLOSING
Rye
Bushels
York
markets.
DAILY
Oats
Bushels
New Orleans
Today prices closed % to l^c.
There was no particular news on this grain, the firm¬
of prices being due to good
spot demand and strong
wheat
Flour
Barrels
Fort William
% to %c. up.
The firmness
grain appeared to be due largely to the strength of
wheat, with the settlement of the Minneapolis strike also
ness
Corn
Bushels
Albany
On the 8th inst. prices closed
up.
Wheat
Bushels
of this
a
10, 1936
statement:
Rye—On the 3d inst. prices closed
to lc. higher.
The pronounced firmness displayed in this market was at¬
tributed to short covering influenced largely by the strength
in wheat and oats.
On the 5th inst. prices closed Mc. down
to"'%e. up. This grain held relatively steady in the face of
the sharp declines in other grains and other adverse in¬
fluences.
On the 6th inst. prices closed
to %c. up.
The strength of other grains prompted short
covering in rye,
and as a result a firm undertone prevailed throughout most
of the session in this grain.
On the 7th inst. prices closed
%c. to %g. down.
The depression in the wheat markets
both here and abroad naturally influenced a lower rye market.
having
Oct.
The exports from the several seaboard
ports for the week
ended Saturday, Oct. 3, 1936, are! shown in the annexed
erately
ported from the interior of the Northeastern States, the extreme northern
Total wk.1936
Since Jan.l
Week
349,000
'3611,357,000
1935.
Since Jan.l '35
301,000
9,527,000
—
2,408,000
94,512,000
290,000
5,431,000
2,809,000
42,555,000
437,000
13,100,000
68,000
6,363,000
d,&^'uuu
351,000
45,000
11,764,000 4,238.000
2 793 000
—
*
on
2 000
277,000
3,997,000
ssa'nnn
s
197 ono
'■
Receipts do not include grain passing through New Orleans for
foreign ports
through bills of lading.
portions of the country and over a considerable area of the Northwest,
though in more western sections freezing was not so extensive as during
the preceding week.
Data in the table show that the week as a whole was warmer than normal
in the extreme Southeast and most of the far West, the plus departure
ranging from 4 degrees to as much as 7 degrees in the northern Great Basin.
The weekly means were subnormal from 4 degrees to 6 degrees from the
Ohio Valley northward and eastward, and also in the west Gulf area.
Volume
143
Financial
The table indicates
also that
rainfall
was
substantial
to rather
heavy
Appalachian Mountains,
the heaviest falls occurring in southwestern
Virginia, western North Caro¬
lina and extreme northern South
Carolina.
Between the Appalachian
Mountains and the Great Plains the
amounts were light to moderate and
a large southwestern
area had a
practically rainless week.
There were
moderate rains in much of
Kansas, western Iowa and southeastern Nebraska.
West or the Rocky Mountains
there was little or no rainfall, except
along
the north Pacific
generally
over the Atlantic area westward to the
"
coast.
Substantial precipitation
during the week markedly improved conditions
generally in the Atlantic States from
Georgia northward.
While the rain
was too heavy
locally, with some damage to crops in the southern
part of
the area, the generally abundant
moisture was highly beneficial in condi¬
tioning the soil, especially for winter-wheat
seeding.
Also conditions
continue decidedly favorable in
the Ohio, the central and upper Missis¬
sippi, and lower Missouri valleys; also in the
southern Great Plains and
Texas.
The greatest improvement in
conditions is shown in the southern
Great Plains, centering in
Oklahoma, with prospects far brighter than
recently; voluntary wheat and oats now afford fine
grazing and even
shrubbery is putting on new leaves.
On the other hand,
droughty conditions continue largely unabated over
a consideralble northwestern
area, with rain badly needed in Minnesota,
the Plains States southward to
central and western Nebraska, and in north¬
western districts,
especially in the interior of the Pacific Northwest.
Rain
is
needed also in some
South-Central States from Tennessee southward
and in the Mississippi
Valley northward to southern Arkansas.
Farm work made
mostly good advance during the week, with fall seed¬
ing unusually active, except in the drier
Northwest.
Frost was rathw
general in northern sections of the
country, with more or less damage fo
late crops in the
Northeast, the upper Lake region and the Central-NorCh
ern
States.
Small
Grains—The seeding of winter wheat made
rapid advance in
and Mississippi
valleys and in the central and southern Great
work is unusually active and much
wheat has been sown.
The early crop is up to a good stand
and growing rapidly generally.
In
Kansas seeding is well
along, one-half to three-fourths or more finished;
the soil is in good condition,
germination is mostly excellent and fields
are already
furnishing considerable pasturage in the northeast.
South of
Kansas seeding made rapid progress under excellent soil conditions, ex¬
cept where locally too wet.
Seeding is largely at a standstill in the north¬
ern Great Plains States because of
continued dryness, and rain is needed in
the Pacific Northwest,
especially in interior sections.
the
Ohio
Plains.
This
Corn—The
corn
crop
progressing favorably.
is now nearly all safe from frost and harvest is
There was some frost damage during the week in
lowlands of the Northeast and the Lake
region, but this was noVserious,
Husking is beginning rather generally.
Cotton—In the cotton belt
prevailing temperatures for the week varied
decidedly subnormal in. the west to above normal in the east, the
minima ranging mostly from about 50
degrees in the northern part of the
belt to around 60 degrees in the south.
Rainfall was general and locally
heavy in the eastern States of the belt, but fair weather was the rule in
from
central and western districts.
Conditions were generally favorable for
harvest, except in some eastern
sections where too much rain retarded
opening, delayed picking and caused
some local damage to open staple.
In general,
picking and ginning made
fair to good progress, especially during the latter
part of the week, in cen¬
tral and western portions, and this work is now well
along.
In Texas
harvest has made fair advance during the last few
days; previous recent
rains damaged open staple but have improved late
plants and there is now
prospect of some top crop; lowlands are still too wet.
In Oklahoma
picking is nearly completed; there is much snapping, with some staple
damaged by recent rains.
In the central States of the belt conditions were
favorable for
harvesting.
The Weather Bureau furnished
following
resume
of
Temperatures
slightly
subnormal; moderate to
heavy rains.
Excellent for general farm work and crop growth; plowing
resumed.
Winter wheat mostly planted.
Pastures > improving.
Truck
good condition.
Sweet potatoes and cotton fair to good;, picking latter
continues.
Tobacco marketing in full swing.
Peanuts good, but few
tubers per hill.
North Carolina—Raleigh:
interior
and
cut
Frequent rains on coast and heavy rains in
Tuesday and Wednesday beneficial to soil, late growing crops
but delayed harvesting matured crops and damaged some
pastures,
but not shocked
or housed.
Progress of cotton mostly good, except
damage to staple; picking slow progress.
Apple crop short, though
good in Brushby Mountains.
Ample soil moisture now for seeding grain.
South Carolina—Columbia: Heavy to excessive rains
Wednesday, espe¬
cially in extreme northwest; small streams overflowed with considerable
damage to roads, bridges and lowland crops, with harvesting retarded.
Fall plowing good progress in south, but delayed elsewhere.
Some oats
seeded.
Late truck and pastures improved.
Cotton opening; picking
retarded in north; some damage to staple by rain, but
picking nearing
completion in south.
Georgia—Atlanta: Began warm, with heavy rains, except light in some
central and southern counties.
Much crop damage by excessive rain in
several northeastern counties.
Cotton picking near completion in south;
some late toward northeast slow in opening.
Pastures and vegetable crops
fair to good after favorable week.
Threshing peanuts in full swing.
Pecans
beginning to open in south.
Florida—Jacksonville; Warm with moderate rains., Progress and con¬
dition of cotton fair; picking fair progress and ginning nearly over.
Fall
crop potatoes doing fairly well; sweet potatoes good and being harvested.
Truck fair; planting tomatoes, peppers, celery and broccoli continues.
Citrus good; fruit maturing, some shipments.
Strawberry plants being
some
set out.
Alabama—Montgomery:
Normal
temperatures;
mostly light
rains.
picking made good advance; nearing completion in all sections.
Harvesting all crops well advance^.
Rain needed for vegetables and
pastures and to facilitate fall plowing and planting.
Mississippi—Vicksburg: Temperatures about normal; little rain.
Cot¬
ton picking and ginning made mostly good to excellent progress.
Gener¬
ally sufficient labor.
Progress in housing corn mostly poor, with efforts
mainly directed toward picking.
Progress of gardens, pastures and truck
mostly poor; need rain.
Louisiana—New Orleans: Dry, except light to heavy rains in extreme
southeast at close; cool first half, normal latter half.
Cotton picking
made excellent progress; completed in many sections and nearing comCotton
,
Eletion overrice, corn State. sweet potatoes. in fall fair to excellent, Jjut
most of and
Good progress Cane plowing, planting and
arvesting
needs
rain
in
sections.
many
Most sections need rain, except locally in
south.
Texas—Houston:
Cool
first
comparatively warm last few days,
averaging about 4 degrees subnormal; light rains in extreme south.
Cotton
picking and ginning made fair advance during latter part of week; near¬
ing completion, except in northwest; rains of previous week damaged
staple, but benefited plants and now prospects of some top crop; condi¬
tion improved, except on lowlands where insect activity favored; general
condition only poor to fairly good.
Soil preparation for winter seeding
made good advance latter part of week, except on lowlands where too wet.
Winter wheat seeding made rapid advance in northwest.
Some truck
planted but soil too wet in extreme south where fields are grassy.
Citrus,
part,
cattle and ranges
generally in good condition.
Oklahoma—Oklahoma City: Favorable for
farm work; much plowing
sowing of fall grains accomplished, except where soil still too wet.
picking made good progress and harvest nearing completion in
most sections; much snapping; some staple damaged
by previous rains.
Early winter wheat making rapid growth and affording some pasture;
and
Cotton
considerable
remains
Pastures and gardens rapid advance;
much volunteer wheat and oats making fine grazing.
Livestock improv¬
ing and in fair to good condition; stock water plentiful.
Some alfalfa har¬
vested in Panhandle.
Trees and shrubbery revived and putting on new
unplanted.
leaves.
Arkansas—Little Rock: Cotton picking
abundant sunshine and dry weather; crop
made excellent advance due to
nearly picked in hills and some
along elsewhere.
Weather very
favorable for gathering icorn and feed crops, harvesting and threshing
rice, and, in north and central portions, for planting and growth of
fall and winter truck, feed and cover crops.
Sweet potatoes and pastures
improving rapidly.
Tennessee—Nashville: Favorable for maturing corn; considerable cut,
some cribbed; unfavorable for growth of late corn, except locally.
Cotton
picking made excellent progress; mostly open; condition improved and
western
and
southern
lowlands
r
and
well
_
2399
better than
expected.
Plowing and seeding progressing where rains oc¬
curred, but generally awaiting more.
Harvesting hay, tobacco, potatoes,
and making
sorghum made good progress.
Pastures improved locally,
but mostly gone; stock water scarce.
Kentucky—Louisville: Light rains; mostly cool, but higher temperatures
and
sunshine
toward
tobacco, of which
dens
a
imprbyed in
end.
small
More
favorable
for
amount
remains
out.
of
most
State.
Considerable
maturing
Pastures
late
late
corn
and
and
late
gar¬
hay made.
sown
Early
grain ifp to good stands, except few counties in south and east where
too dry.
Satisfactory seeding.
Late potatoes poor to fair; improv¬
ing, but need long growing-period.
still
THE DRY GOODS TRADE
New York,
Generally fair and
more
Friday Night, Oct. 9, 1936.
seasonal weather conditions caused
sharp improvement in retail trade during the past week,
districts scored the largest gains for the
current year.
In the metropolitan area and in the Western
drought sections the improvement in sales again fell behind
the average ratio, but for the
country as a whole, the current
month has made a very good start.
The outlook for the
second half of October
appears bright, inasmuch as normal
consumer
requirements of Fall goods are believed to be but"
partially covered, and as, moreover, the corresponding period
a
and stores in
many
last year had made
a rather poor showing.
:
Trading in the wholesale dry goods markets continued at
active pace.
Improved consumer buying and generally
rising prices brought into the market an increasing amount„
an
of re-orders
on
Fall goods to replenish the none too
heavy'
Spurred by the advancing quota¬
tions and increasing
delivery difficulties, initial purchases of
holiday goods also broadened considerably, as retailers were
looking forward to one of the best seasons in years. Whole¬
stocks in retailers' hands.
salers increased their commitments
their search for
as
goods to
on
Spring merchandise,
immediate requirements
met with rather scant
success, with mills finding it increas¬
ingly difficult to meet present delivery schedules.
Prices
continued very strong.
Business in silk goods quieted down
somewhat, but indications pointed to a good resort and
Spring
cover
Activity in the rayon yarn market continued
although shipments, while still exceeding
production, showed a decline, chiefly due to a lack of suffi¬
season.
at its record pace,
cient
stocks.
Orders A or December
delivery were
large volume, and several producers were reported
have disposed of their entire output.
The announcement
the reduction in the price of acetate
yarns ranging from 3
10c. a pound caused considerable
surprise.
A slackening
reserve
received in
to
of
to
the
conditions in the different States:
Virginia—Richmond:
Chronicle
in the sale of acetate warp cloth was cited as a
possible cause
for this move.
Of special interest was the decision of the
leading producer of viscose yarns to join in withdrawing all
quantity discounts, because of the provisions of the RobinsonPatman law.
Domestic
Cotton Goods—Trading in the
gray cloth
quieted down materially in comparison with the
record activity of the previous week.
Total sales, neverthe¬
less, reached a substantial volume. While the bulk of orders
markets
called
for
delivery during the current
year,
a
number
of
contracts extended into the
early months of 1937. The tight
delivery situation for spot and nearby goods became in¬
creasingly acute, and in many instances premiums over later
shipments were paid by buyers. The Government estimate
of the cotton crop as published on Oct. 8 and
showing a mod¬
erate increase over the previous month, failed to retard
trading but rather served to release orders that had been held
back in anticipation of the report.
Business in fine goods
continued moderately active.
While inquiries were quite
numerous, the fact that many mills remained out of the
market, kept the total volume in narrow bounds.
Buyers
paid full asking prices for spot or nearby delivery but con¬
tinued reluctant to accept present quotations for next
year's
shipments.
Closing prices for print cloths were as follows:
39-inch 80's, 8F2 to 8%c., 39-inch 72-76's, 8^c., 39-inch
68-72's, 7M to 77/sg., 38^-inch 64-60's, 6% to 6%c., 38Minch 60-48's, 5% to 5^c.
Woolen
Goods—Trading in men's wear fabrics made a
showing than during recent weeks. Orders on
Spring goods were received in good volume, and a leading
mill advanced quotations on next Summer's tropical worsteds
and gabardines from 2p2 to 5c. a yard, with
predictions
circulating in the market that price advances on other types
of suitings are imminent.
Clothing manufacturers reported
an increasing call for topcoats and overcoats as more season¬
much better
able weather stimulated retail sales of these items.
in
women's
wear
continued
fairly active.
Business
While the Fall
is nearing its end, and mills were not expected to
open
Spring lines before the end of this month, some procontinued to receive good business on sport woolens and
fleeces for nearby delivery.
Garment manufacturers booked
an increasing amount of re-orders on Fall
goods, reflecting
season
their
the
quickening
pace
of
consumer
demand.v
Foreign Dry Goods—Trading in linens continued moder¬
ately active. The demand for materials for the Winter resort
trade remained satisfactory, and a slight improvement was
also noted in the call for household and gift numbers. Prices
remained steady.
Business in burlaps continued in its
desultory fashion. Apart from a few small sales of spot and
afloat goods, the market was extremely dull.
Prices receded
further, in sympathy with lower Calcutta cables, the latter
being due to the weakness'of sterling as well as the un¬
certainties
in
lightweights
the
were
Calcutta
mill
situation.
Domestically
quoted at 3.80c., heavies at 5.15c.
Financial
2400
Chronicle
10,
3,392,000 Buffalo Sewer Authority, N. Y., 3M% bonds, due serially
from 1940 to 1964, incl.. were purchased privately by B. J.
Van
Ingen & Co., Inc., of New York and associates, and pub¬
oy the bankers at prices to yield from 2.25%
licly reoffered
Specialists in
3.40%, according to date of redemption.
to
2,900,000 Maine (State of) 2% bonds were sold as follows: $1,525,000
improvement, due serially from.1937 to 1956, incl., anu callable
after five years from date of issue at a price of 101, were sold
to the Chemical Bank & Trust Co. of New York and associates
Bonds
Illinois & Missouri
p.ice of 101.178; $875,000 non-callable highway and bridge
were taken by an account managed by Halsey, Stuart
at a
bonds
Co., Inc., of New York, at 102.908, and the balance of
$500,000 highway bonds, maturing serially from 1941 to 1950,
incl., were awarded to a group headed by Lazard Freres & Co.,
Inc., of New York at a price of 102.419.
&
STIFEL, NICOLAUS &. CO., Inc.
105 W. Adams St.
DIREGT
314 N. Broadway
CHICAGO
WIRE
ST. LOUIS
Utah, 4M% light and power plant
reported sold to Brown, Schlessman, Owen &
Due sedally in from 2 to 20 years.
2,490,000 Ogden,
improvement in activity was the principal devel¬
of
September.
Awards during the period established a record
high for any month so far this year and the terms achieved
by the borrowers as well as the reaction of investment inter¬
ests to the large volume of new offerings were eminently
satisfactory to all those connected with tax-exempt financ¬
ing.
The issues sold during the month, including 'those
opment in the municipal bond market during the month
embraced
in
the
sale
conducted
by
the
bonds
2.000,000 Missouri (State of) 1M% building bonds purchased privately
bv the Baum-Bernheimer Co. and Stern Bros. & Co., both of
Kansas City.
Due $1,500,000 in 1938 and $500,000 in 1939.
The bankers resold the bonds to yield from 0.70% to 1 %.
MUNICIPAL BOND SALES IN SEPTEMBER
A marked
revenue
Co. of Denver.
1,265,000 Milwaukee, Wis., 4% water works mortgage bonds awarded
to Salomon Bros. & Hutzler of New York at a price of 103.71,
a
on
any
1,200,000 Rhode Island (State of) 3% public works bonds, due serially
from 1944 to 1951, ind., awarded to the Chemical Bank &
Trust Co. of New York and associates at a price of 112.157,
basis of about
a
1,142,000 Mount
1.825%.
Vernon,
Y.,
N.
comprising
bonds,
$860,000 2Ms,
maturing serially in from 5 to 20 years, and $282,000 3s, due
annually over a period of 10 years, purchased by a group
managed by the Chase National Bank of New York at a price
of 100.02, a basis of about 2.58%.
The bankers reoffered tne
bonds at prices to yield from 0.60% to 2.75%, according to
interest rate and maturity.
Reconstruction
Finance Corporation, aggregated $158,409,135.
As already
noted, the total is the largest for any previous month of
1936, and, moreover, it is necessary to go back in the records
to May, 1931, in order to find a figure comparable in size
to the volume of the output last month.
^
The extent of the activity in the market is indicated in the
fact that no less than 16 issues of $1,OOO,OQ0 or more were
Due serially from 1937 to 1947, incl..
interest date after three years from date of
basis of about 3.27%.
callable
issue.
1,000,000 Pittsburgh School District, Pa., bonds awarded to the Union
Trust Co. of Pittsburgh as 2 Ms at a price of 101.202, a basis
of about 2.16%.
Due serially from 1937 to 1966. inclusive.
The strength of the municipal bond market during Sep¬
is reflected in the comparatively small number of
tember
publicly sold in September.
issues which Were
tions
aggregate principal amount of bonds involved in these in¬
Among the larger of the flota¬
the State of New York,
$19,952,000 by Detroit, Mich., and $11,680,000 by the State
of Virginia.
A prominent feature of the month's financing
was the large amount of the borrowing undertaken for re¬
funding purposes.
The refinancing at lower interest cost
of bonds previously issued was responsible for $54,500,000
of the volume of tax-exempt financing negotiated during
September.
Inasmuch as the New York State loan of
$55,000,000 was issued to provide funds for emergency relief
purposes, it is obvious that the bulk of the proceeds of the
sale of bonds in the month just ended will be used for other
than new capital expenditures.
The issues of $1,000,000 or more placed during September,
with the exception of those included in the sale held by the
RFC,
were
are
those of $55,000,000 by
listed herewith:
stances
unsuccessfully offered in that period.
$1,441,000, representing offerings by nine pros¬
pective borrowers.
The issues offered unsuccessfully dur¬
ing the month are listed herewith, the tabulation indicating
the page number of the "Chronicle" where a report of the
failure may be found—name of the prospective borrower,
interest rate and amount of the issue involved, and the na¬
ture of the
Page
report, if any, given as a reason for the non-sale:
not exc. 4%
aBayonne, N. J
2247
not exc. 6%
Browning, Mont.._
2245 bBogalusa, La
2094
Colquhoun S. D. No. 2, N. Dak
1918
Eden Valley S. D. No. 1, N. Dak
1758
not exc. 5%
not exc. 7%
not exc. 7%
Moorcroft, Wyo
2089
Rapides Parish R. D. No. 36, La
6%
not exc. 5%
1753 cSwlft County, Minn
Non-sale
a
financing
was
was to
Amount
Int. Rate
Name
2092
not exc. 6%
1756 dUniversity Heights, Ohio
$55,000,000 New York (State of) 1M% emergency unemployment relief
bonds, due $5,500,000 annually from 1937 to 1946, incl.,
awarded to the National City Bank of New York and associates
at a price of 100.751, a basis of about 1.363%.
Reoffered by
the bankers at prices to yield from 0.25% to 1.50%, according
to maturity.
The
was
4%
the result of
court
be undertaken,
private sale on Oct. 6.
c
action
involving the
Report
$800,000
No bids
33,000
No bids
40,000
No bids
6,000
No bids
5,000^No bids
20,000
No bids
22,000 Postponed
30,000
No bids
485,000
No bids
project for which the
b Issue was scheduled to have been offered at
Issue reoffered for sale on Oct. 6.
d The refunding bonds
offered will be exchanged for old indebtedness.
Temporal financing by States and municipalities during
September included the public sale by the Com¬
monwealth of Pennsylvania of a new issue of $45<y()00,000
13^% notes, due May 31, 1937, to Dougherty, Corkran &
the month of
19,952,000 Detroit, Mich., non-callable refunding bonds, comprising
$13,182,000 3 Ms, $2,600,000 3s, $3,351,000 3 Ms and $819,000
——2Ms, all maturing at various dates annually from 1937 to
1962, incl., awarded to a large banking group under the joint
management of the First National Bank and Halsey, Stuart
& Co., Inc., both of New York, at par plus a premium of $100,
the net interest cost to the city being 3.17%.
In reoffering
the various issues, the bankers priced the $16,533,000 3 Ms to
yield from 0.70% to 3.25%, according to maturity; $2,600,000
3s to yield 3.20% on all maturities, and the $819,000 2Ms
were offered on a yield basis of from 0.60% to 2.70%.
il,680,000 Virginia (State of) "Century" refunding bonds were placed
by the State as lMs and 2Ms on a net interest cost of 2.17%.
Of the entire loan, $10,019,600 bonds were taken at public
sale by the First National Bank of New York and associates
and the balance of $1,660,400 were taken by holders of that
amount of the old bonds, as provided for in an exchange offer
by the State.
The entire issue is due serially^rom 1937
1966, incl.
Of the $10,019,600 taken by the banking group,
1937 to 1946, incl.,
0.25% to 1.70%,
according to due date, and the balance of $7,247,000 2MS. due
from 1947 to 1966, incl., were priced to yield from 1.80% to
made
to
the $2,7j6$d)00 lMs, maturing serially from
were reoffered
on
a
yield basis of from
2.25%.
_
■
including $4,595,000 2M% Qin_
1956, and $1,000,000
3M% street wideniiig bonds, maturing annually from 1938 to
1962, incl., purchased by an account headed by Lehman
Bros, of New York at a price of 100.03, a net interest cost to
tne city of about 2.38%.
In marketing the bonds the bankers
priced the $4,595,000 2Ms at 98.75 and placed the $1,000,000
serial 3Ms on a yield basis of from 0.60% to 2.50%.
5,595,000 Cincinnati,
Ohio,
bonds,
cinnati Southern Ry. refundings, due in
3,000,000 Buffalo, N. Y., bonds, comprising $2,500,000 2MS, due from
1937 to 1956, incl., and $2,500,000 3.10s, maturing each year
from 1937 to 1946, incl., were sold to Edward B. Smith & Co.
of New York and associates at a price of 100.029, a basis of
about 2.69%.
In reoffering the $2,500,000 2Ms, the bankers
fixed the yield on the 1937 to 1945 maturities at from 0.60%
to 2.55%, and priced the 1946 to 1956 maturities at from 99.50
to 96.50; the
balance of $2,500,000 3.10s were offered on a
yield basis of from 0.60% to 2.65%.
4,400,000 Louisville, Ky., 3% bridge revenue refunding bonds, due
Nov. 1, 1955, redeemable at various prices depending on date
of call, at any time beginning in 1937, were taken by an ac¬
count managed by Blyth & Co., Inc., of New York, at a price
of 101.68, a basis of about 2.89%.
4,000,000 Minnesota (State of) trunk highway bonds, maturing $1,000,000 each year from 1948 to 1951, incl., purchased by a syndi¬
cate under the leadership of the Bankers Trust Co. of New
York on a bid ef 100.341 for 2Ms, a basis cost of about 2.22%.
Reoffered at prices to yield from 2.10% to 2.20 %
according to
maturity.
Co.
to
an
account headed
Philadelphia.
Disposal of this loan, together with
anticipation financing by New York City in the amount
of $48,000,000, helped swell the total amount of interim
financing for the month to $101,027,798.
Low interest cost
continues to feature temporary loans negotiated by the States
and their sub-divisions.
Canadian municipal bond financing in September was
monopolized almost entirely by operations of the Dominion
Government.
Of the $100,295,500 bonds sold during the
month, the Dominion accounted for $100,000,000, having
disposed of that amount of bonds and notes in a single
operation conducted on Sept. 10.
The total involved the
issuance of $45,000,000
4^% one-year notes, which were
offered to investors at a price of 98.25, to yield 1.40%, and
$55,000,000 3% perpetual bonds, priced by the Dominion
at 96.50, to yield 3.11%.
These obligations are callable after
30 years and constitute the first time that the Dominion
Government resorted to the issuance of securities having no
stated
maturity date.
United
States
Possessions
financing
during
September
consisted of the sale by the City and County of Honolulu
of $500,000 3h£% flood control bonds, due from 1941 to
1954, incl., to the First Boston Corp. of New York and
a price of 108.75, a basis of about 2.605%.
A comparison is given in the table below of all the various
forms of securities placed in September of the last five years:
associates at
1935
$
1934
$
1936
$
1933
$
1932
$
148,870,640
40,819,694
78,929.600 137,183,000
38,239,955
45.585,026
64,034,466
67,784,773
100,295,500 135,263,853
13,900,000
565,300
9,502,211
Perm, loans (U.
S.)_ 158,409,135
Temp, l'ns (U. S.). 101,027,798
Can. loans (perm.)—
Placed in Canada.
None
None
None
None x60,000,000
500,000
4,998,000
None
None
None
None
None
None
None
None
360,232,433 368,062,093
191,902,694
Placed in U. S
Bds. U. S. PosB'ns..
General fund bonds
(New York City).
Total
*
County, Ohio, 3M% refunding bonds awarded
by Field,/Richards & Shepard. Inc., of
Cincinnati at a price ofH00<-to2, a basis of about 3.23%.
Due semi-annually from 1942 to 1951, incl., and callable 011
any interest payment date on or after Oct. 1, 1946.
3 800,000 Cuyahoga
of
tax
84,390,281 201,321,450
Including temporary securities issued by New York City, $48,000,000 in Sept.
$56,000,000 in Sept. 1935, $39,265,000 In Sept. 1934, $34,647,305 in Sept.
1936,
1933 and $48,350,000 in Sept. 1932.
'
x Representing a $60,000,000 Dominion of Canada 4% note issue,
due Oct. 1„
1933, optional July 1, 1933, underwritten in the United States.
Volume
143
Financial
The number of
Chronicle
municipalities emitting permanent bonds,
and the number of separate issues made
during September
1936 were 326 and 401,
respectively.
This contrasts with
277 and
339 for
September,
MUNICIPAL
August, 1936, and with 247 and 268 for
Dealer
WM. I. MERICKA
comparative purposes we add the following table,
showing the aggregates, excluding temporary loans and also
Canadian issues, for September and the nine months for a
series of years:
1933
1932
1931
1930
1929
1928..
1927...
1926
1925
1924
1923
1921
1920
...
1919
4
1918
1917
1916
1915
1909
1908.
1907
1906
1905
1904
1903
.
1902
1901
1900.
8,980,418
9,825,200
10,694,671
8,762,079
9,179,654
14,408,056
4,033,899
7,201,593
6,173,665
9,272,691
3,693,457
11,423,212
8,240.347
3,885,137
1899
1898.
1897
1896
238,179,833
328,078,924
308,388,101
406,496,817
408,044,823
13,378,480
26,487,290
18,364,021
23,001,771
34,531,814
47,947,077
1910...
918,854,893
754,294,623
489,716,223
519,669,754
26,707,493
§26,025,969
25,469,043
1912
1911..
765,963,785
88,656,257
49,820,768
70,839,634
24,732,420
31,175,017
22,174,179
1914
1913
902,053,073
682.911.759
336,662,675
658,175,205
1,140,002,546
1,056,321,229
936.398.760
994,840,978
1,178,508,094
1,046,221,618
1,095,486,400
1,138,425,601
1895
1894
the
§288,024,714
317,912,921
314,503,570
231,921,042
272,389,451
243,241,117
199,722,964
153,152,345
141,021,727
197,921,657
111,745,993
117,678,355
99,324,001
97,194,441
95,026,437
83,150,559
106,387,463
56,229,416
92,253,916
90,454,836
1892
Name
Rate
Ada Co. H. S. D. No. 1, Idaho..
3*4
Adel, Iowa
2%
2245 Agawam, Mass
1 %
Black Hawk
1758
Maturity
1-20 yrs.
2096
Gallatin, Tenn
1916 Geneva, N. Y
1920 Georges Twp. 8. D., Pa
100
4.99
4~oo
2
1954-1957
35,000
100.15
__4
2)4
1938-1947
65,000
105.18
3.11
1938-1943
36,000
100.53
2.38
3)4
Goltry Indep. S. D. No. 86, Okla.3K
Goodwater, Ala
5)4
2093 Gouverneur Un. Fr. 8. D. No. 1,
dl946-1954
37,000
2096
Girard, Pa
2088
Glen view Park Dist., Ill
_
1.98
100.121
3.49
2251
1939-1956
9,000
2086
1939-1949
11,000
95.50
5.95
50,000
89,000
100.07
2.69
100.12
4.24
N. Y
.2.70
1939-1966
4*4
1937-1955
Grant Co., Ore.
Grundy Co., Tenn
2247
Gulf port, Miss
4
1937-1955
68,000
3
1946-1965
35,000
102
2.77
3
1945-1951
49,000
104.06
2.53
3%
1941-1966
1601
Hazelton S. D., Pa
4%
2*4
1937-1946
7*125,000
7*40,000
250,000
100.17
2247
Hopevlllc, Ga. (2 issues)
Hammond, Ind
Hattiesburg, Miss
Hazelhurst, Miss
1603
Helper, Utah.
1938-1957
55,000
in the
35,000
20,000
Price
100.28
1751
2247
..6
....
A
50,000
Hill Co. Rd. Dist. No. 1, Texas
1915 Hinds Co., Miss
......3
2097
Basis
2090
3.22
2089
101.40
100.159
1.72
Holyoke, Mass
Hopkinsville, Ky
1757 Horry Co., S. C
2091 Hubbell, Neb
1596 Hudson, Mass
1*4
4*4
4
7*12,000
100.92
101.32
2.27
1*0*4""""
7*140,000
1937-1951
75,000
1001523
L07
102127"
3".54
100.17"
"l".44
101.25
2.03
250,000
"
1-10 yrs.
20,000
8,850
7,000
(1400,000
10,000
18,000
(/5-20 yrs.
1937-1940
420.000
100.63
2.38
3*4
1)4
2*4
2244
1937-1951
120,000
4
1937-1942
100.50
Huntington Sch. City, Ind.
2.94
2096
1937-1947
r20,000
4)4
1937-1945
25,000
Hurley ville 8. D. No. 9, S. C
Hutchinson Co., Texas
1938-1955
100.87
65,000
100.15
4.23
5,000
-.4*4
2*4
5,
1939-1946
dl945-1955
1938-1947
500,000
100.84
2.14
4.08
[2%
\3
1756
1753
Ironton, Ohio
Issaquena Co., Miss
2246
Jackson
70,000
100
2.75
20,000
100m
L48
1942-1956
20,000
100.13
1937-1951
25,000
100.42
30,000
58,000
101.81
2.33
35,000
102.71
2.95
r28,000
r68,000
8,000
99.20
3.05
5
1938-1955
40,000
100.25
4.97
1938-1946
100.441
1.67
1937-1944
86,165
23,600
1940-1964
3,392,000
1937-1956
r2,500.000)
2,400,000
2090
Canton, 111
Carlton County, Minn
2250
Cass Co.
2248
Chadron, Neb
2245
3*4
Chanute S. D., Kan
Com. S.
D.
d400,000
30,000
101.30
745,000
100.13
17,
Uak
n"
1938-1944
3
Chattanooga, Tenn
1595 Cherokee County, Iowa...
1911 Cheyenne Wells, Colo
.4
1937-1956
68,750
1938-1945
1942-1947
(2500,000
1947-1949
1956
r4,595,0001
\3*4
1938-1962
2095 Cleveland Heights, Ohio^.
1595 Cole S. D., Idaho
_.2 K
r201,000
1940-1946
4H
Pa
,3*4
Tenn.
II"
..^...
Detroit, Mich. (2 iss.)
Detroit, Mich
1913 Detroit. Mich
3)4
Dobbs Ferry, N. Y. (2
iss.)
1595 Downers Grove San.
List., Ill
1912 Dubuque, Iowa
5
1601
___r
1937-1941
7,000
75,000
2,500
2.41
Dustin, Okla
2088 East Chicago Sch.
City, Ind
2244 East Peoria, 111. (2
issues)
Elkhart, Kan
1914 Ellis ville, Miss
1755 Elm City, N. C
1755 Elm City, N. C
Escanaba. Mich
Eureka, Calif
Everett, Mass
1751 Fairfield, Iowa
1919 Fairview, Okla
2253 Falls Church, Va
1757 Falls Twp. 8. D., Pa.
[2
\2
1942-1947
2095
Mahoning County, Ohio
1913
1913
2
1942-1956
2
1937-1945
Maine (State of)
2
1941-1950
1*4
1937-1941
1940-1956
3
1937-1956
7*20,000
100,000
4
1937-1946
12,000
7*115,000
4*4
1941-1956
1)4
1937-1946
2*4
...4
Mechanlcsburg, Ohio
Medford, Mass
3.17
1596
......
3.17
1915 Meridian, Miss
2243 Mesa H. 8. D.,
.
.3.90
Calif..
4
2.56
3.17
2254 Milwaukee, Wis
2.00
2090
6,000
100.18
97.15
1937-1940
7,000
48,272
3-32 yrs.
100.28
425,000
27,000
24,000
4,000
5,500
3.00
5.26
2251
31,000
1939-1956
4.50
1937-1951
7,500
5,000
5,000
7,600
282,000
860,000
9,000
85,000
10,000
100
2.75
100
2.75
103
2.98
101.68
2.74
1952-1956
1942-11M3
1937-1916
1-10
yrsl
5-20
yrsA
4
1938-1955
1*4
1*4
1939-1947
New Cord ell, Okla
■
2
1946
3.94
100.02
2.58
100.02
2.58
101.111
3.86
100.817
....
105,000
1939-1948
100.701
10,000
36,000
1938-1955
4.00
ll55
101.26
4.10
100.01
2.74
5,400
200,000
28,000
100
101.07
1755 New York (State of)
1599 Niagara Sch. Dist. No.
1937-1946
55,000,000
100.75
1.36
l"0L28"
3! 17
1937-1956
3.18
100.43
2.65
35,000
12,000
722,390
5,000
712,500
20,000
100.17
2090 North Adams, Mass
1919 North Canton, Ohio (2 Issues)
2091 North Mankato, Minn
37,000
4)4
100
2.22
1937-1956
1937-1944
1-10 yrs.
1937-1946
769,000
1.87
100.34
4
2*4
1)4
1937-1961
1938-1939
3.27
100.16
2*4
60,000
1937-1947
103.71
4*4
1*4
1937-1946
2)4
1.61
4.00
2087 New Hartford, Conn
1754 Newport, N. Y
4
103,000
100.73
100
2087 Newport Beach, Calif
1752 Newton, Mass
102
107.949
1941-1967
2.25
3".29
35,000
27,000
1941-1955
2.76
103.72
1938-1959
3*4
5~. 14
1937-1947
_3*4
102.202
4*4
3
102~.58"
1937-1941
3
1.12
lOOJO"
....2)4
102.72
4
9,500
20,000
102.41
4
Muskogee, Okla. (6issues).
County, Kan...L
2090 New Bedford, Mass. (2 issues)
1.4
1
1937-1947
102.90
100.42
1,265,000
763,750
4,000,000
2,000,000
95,000
2095
Neosho
194C-1941
57,000
125,000
7*152,000
10,000
101.17
1937-1946
Munford Fire District, N. Y.
2089
100.1111
2.63
1948-1951
issues)...2*4
100
1.99
100.688
1.90
1595 Morgan County, Ind.
-.2*4
1599 Mount Vernon, N. Y. (2 issues)...3
*
1599 Mount Vernon, N. Y. (7
>30,000
10,000
4
1911 Monterey County, Calif
1911 Monterey County, Calif
2090 Montevideo, Minn
2094
100.105
2*4
1)4
Minneapolis, Minn. (2 issues)
1914 Minnesota (Stateof)
100
3.19
7*70,000
Mallard S. D., Iowa
3.17
3! 85
100.53
16,000
......
106.66"
2.45
40,000/
Maine (State of)
Maine (State of)
Mayfleld, Ky
2089 Mead, Kan
100
1942-1951
7*107,5001
535,000
dl,525,000
875,000
500,000
140,000
1913
1919
1937-1946
1938-1947
2248 Manchester, N. H
1912 Marshall Twp., Ind
2.95
1937-1955
2%
1912
100.41
100.415
27,000
101.286
1938-1943
Fergus Co. H. 8. D., Mont
Fltchbury, Mass
Flat River, Mo
1948-1954
2247 Monroe County Supervisors Dist.
No. 5, Miss
14,500
I
1.83
1938-1947
1937-1951
4
6.00
1938-1952
1914
2". 14
2*4
2
Lyon County, Iowa
Macomb, 111
2097 Madison, Wis. (2 issues)
LOO
1951-1956
1913
100.82"
101.26
1942-1951
1595
100
2
2087
4.19
102.06
5*4
City, Ind
100.28
100.29
2.89
190,000
7,000
3.00
101.68
....
220,000
""5
IH"l544
2.75
100
2.82
1948-1952
3
_
3! 50
100
3.19
100
4)4
1751
2! 16
lOO""""
100.40
1938-1955
2,000
59,000
4,000
r4,400,000
300,000
500,000
60,000
1753 Missouri (State of)
2090 Monroe, Mich
3%
100.53
1940-1947
yrsl
4
100.303
101.22
24,600
" 34
4.00
100.58
Maiden, Mass
1919 Malin, Ore
..3*4
Elizabethton, Tenn
City, Okla....
City, Okla
Elk City, Okla
Elk
1938-1950
6.00
5.50
100
20,000
3*4
50,000
1,500
3
1937-1939
5-20 years
l"o"o""""
100
1937-1949
1913
r819,000
3,500
1939-1955
65,000
7*105,000
18,000
50,000
4,500
d80,000
7*115,000
25,500
2.82
100.10
1937-1956
Lorain, Ohio
1937-1949
1-12
1938-1948
4
±
1937-1962
2.60
Elk
County, Mont
2
3*4
Y
2%
2*4
4
Eaton, Colo
Ecorse, Mich. (2 issues)
3*4
3
1593 Los Angeles Co. 8. D., Calif
3*4
2243 Los Angeles County, Calif...-...4*4.
1912 Louisville, Ky_.__
3
1596 Lowell, Mass
2*4
2089
4,900
48,000
1937-1962 rl3,182,000
1937-1962 7*2,600,000
1938-1947 r3,351,000
1941-1946
4
1596
6
1599
3*4
2*4
Lakewood City S. D., Ohio
100.872
3
2.11
1937-1943
1955
4
1593 Los Angeles Co. S. D., Calif
1593 Los Angeles Co. S. D., Calif
100.70
44
3
1941-1954
5*4
8,500
7*14,000
r 1,000
21,500
2".58
25,000
2! §8
1939-1962
3*4
1913
1913
...6
Konawa, Okla
18,000
1913 Lynn, Mass
100.59
Pinckney,
1913 Detroit, Mich
20 years
1.85
100.18"
7*118,375
7*180,000
30,000
20,000
4.97
15,000
__
4
3.63
1942-1947
1*0*0*. 15*
1938-1945
20 years
2*4
1.98
103
100.34
1938-1946
100.057
7*230,000
250,000
16,000
3
^3
101.629
3*4
3.23
1939-1954
...3*4
County, Calif
1950
2.55
2.55
2095 Lorain. Ohio
100.13
2*4
1, N. Y..
Kern
2.98
1940-1949
Ridder, La
2088 Des Moines
County, Iowa
2*4
1912 Deerfield Twp. S. D. No.
9, Iowa.3^
1916 Delhi, Meredith, Bovind 8. D. No.
2087
100*03"
1.96
4.00
2.90
De
East
101.58
100
r3,800,000
.'..5
1956-1963
2.13
100.34
2250
101.26
100.102
Dayton, Ohio....
Dayton 8. D. No. 9, N. Y
2244 Decorah, Iowa
1938-1947
.4
100.09
100.34
1937-1941
5.00
1942-1951
1937-1943
iyo/-.Ly*a
j--2*4
Lancaster, Tex
2092 Las Cruces, N. M
2093 Le Roy, N. Y
100
3*4
1754
1918
18,000
r 1,000
18,500
1948
1937-1945
7*133,000
193*7-1944
7*210,000
7*200,000
7*85,000
3,500
8,000
8,000
7*28,000
6,000
61,000
29,000
17,000
1946
1937-1940
1945-1956
2*4
1938-1944
2*4
2)4
2%
3*4
3*4
2096 London Grove Twp. S. D.,
Pa...2*4
2095 Lorain, Ohio
4
r80,000
4
3.90
Josephine Co. 8. D. No. 7, Ore...2
1597 Kandiyohi Co. S.D. No. 37, Minn.3
1758 Kenosha, Wis. (4 issues)
2.60
1604 Kenova, W. Va
3
1937-1945
5
Coos Co. 8. D. No.
29, Ore
2095 Coshocton
County, Ohio
1600 Cuyahoga Co., Ohio
(2 iss.)
2250 Cuyahoga Falls, Ohio.._
1919
1599
T2I0.659
1920 Jackson Twp. Sch. Dist
2089 Jefferson County, Kan
1920 Jones Twp. Sch. Dist., Pa
1753 Lincoln
25,000
Colorado, Tex
3.40
100.50
2250 Logan, Ohio
40,000
4%
100.63
100,000
2247 Lewis and Clark County, Mont. .3
1918 Lima, Ohio
3
1,000,000/
Cleburne, Tex
Harrisbprg
100.56"
r5,000
County, Miss..
S. D. No. 1, N. Y
3.48
8,000
2K
.
1921
3,500
" 4*4
[2*4
Ohio (4 issues)
1.99
106.309
50,000
2-2 *4
2252
Rockaway, N.
1.97
200,000
75,000
2 &
__
1750 Kremmling, Colo
2088 Lake County, Ind
1938-1947
1938-1946
36,000
6,000
100.13
1938-1949
1937-1956
Dist., Mich.
1919
1942-1947
4
No.
Sch.
101.60
2,000
10 years
3
..
Union
1937-1956
3)4
4
100.0299 2.69
1-14 yrs.
2*4
.
4.10
Kern County, Calif.
2252 Knott Indep. 8. D., Tex
1919 Konawa, Okla
45,000
2
N. Y
2087
2,500,000/
1942-1947
No.
1942-1947
1911
20 years
1937-1946
D.
2095
3
2*4
8.
1594 Jacksonville, Fla
1594 Jacksonville, Fla
30,000
1937-1956
..
Com.
(2 issues)
7306,600
1945-1952
I
1595 Calhoum County, Iowa
Cameron, Mo
1918 Campbell, Ohio (2
issues)
1913
Ida County, Iowa
Irondequoit
2*4
2091
2091
2088
2093
...3*4
County, Iowa
2096~Connellsville,
2097
~3~ 68
2-10 yrs.
\3.10
Buena Vista
1.87
104~28~
1937-1940
19 years
D., Colo.
2247
100.01
101.01
1937-1956
76»180
Humboldt Co., Iowa.
3*4
Elwood Sch.
65,000
4
132,000
45,000
1751
Burrton S. D., Kan
1750 Cactus Ridge S.
2244
1939-1957
3.94
1751
1756
5
3*4
Fuquay Springs, N. C.
Gainesville 8. D., Texas
3.38
Brookhaven, N. Y
1.75
2250 Brown County, Ohio
4
1754 Buffalo Sewer
Authority, N. Y.. 3*4
2093 Buffalo, N. Y. (3
Issues)
(2*4
1756
1917
2252
11,000
99.47
Brltton, S. Dak
1756
155,000
101.12
2093
2096
Amount
9,000
1937-1946
4H
2096
1914
—
1937-1958
3
Brick Twp., N. J
Bridgeport, Neb.....
Denmark,
1-15 yrs.
__
3
d75,0p0
1598 Blair, Neb
1916
5.25
La..-5K
Freeburg, S. D., Pa
1915 Fremont, Neb
r571,000
County, Iowa
1915
2245
100
Franklin Parish 8. D. No. 8,
Franklin Township, N. J-....
2
Blackstone, Va
1756
15,000
1596
2248
2251
1947-1950
Belmar, N. J
Bethany, Okla
Cookeville,
2l§8
Basis
3
Bango Twp.. Ind. (2 iss.)
1751
1603
4.75
1*0*0". 15"
2.90
Price
4
1919
1603
100
13,500
35,000
Amount
1938-1946
1*4
1603
7300,000
1-5 yrs.
1938-1956
1943-1962
Athena, Ore
Cincinnati,
1941-1965
4%
314
1596 Augusta, Kan
2%
2252 Austin Co. Road Dist. No.
1. Tex
2244 Bartholomew
County, Ind
1914 Claiborne
Maturity
4%
2*4
2097 Amarillo, Tex
:
1757 Anderson Co., S. C
2245 Anne Arundel
County, Md
1912 Arkansas City, Kan
2251 Ashley Sch. Dist., Pa
2250
Rate
Collins, Colo
2093 Forestville, N. Y
3.90
2244 Alta, Iowa..
2244
'
Fort
1603
case
1911
1751
Name
Florence, S. C
1750
2095
following table we give a list of September loans in
amount of
$158,409,135, issued by 326 municipalities.
Page
1915
Page
2252
63,583,834
6,242,952
2244
2248
~
40,072,566
given:
2088
CHICAGO
2244
1893
of each loan reference is made to the
page
"Chronicle" where accounts of the sale are
2251
135 S. La Salle St.
NEW YORK
Nine Months
In the
In the
One Wall Street
For the
of
September
§873,264,397
56,398,075
99,770,656
1922
Month
Nine Months
§158,409,135
148,870,640
40,819,694
38,239,955
64,034,466
117,083,951
80,358,117
100,028,167
t
66,704,334
117,571,822
136,795,778
115,290,336
124,336,682
1934__.
Union Trust Bldg.
CLEVELAND
For the
September
CO.
INCORPORATED
✓
Month of
1935
BONDS
Markets
1935.
For
1936
2401
50,000
l"o"ol79"
30,000
100
1912
4.25
North
1*4
3, N.Y...3.20
1*4
2)4
___5
Vernon, Ind
1757 North Versailles Twp. 8. D., Pa..
1938-1940
1937-1946
1937-1946
4*4
..
1946
1944-1952
100.27
1.16
100.15
100.41
2.67
104.36
3.39
50,000
1938-1942
1602
2094
2245
1604
2089
1595
1912
10 yrs.
2-20 yrs.
1946-1955
1937-1941
1937-1956
1938-1945
1939-1943
1939-1943
2244 Paris, III
3
3
2245 Parsons, Kan
214
1912 Ottumwa, Iowa
7,000
1,100
5,100
27,000
2,490,000
450,000
5,000
129,000
46,000
396,000
25,000
17,500
25,000
20,000
60,000
11,928
25,000
1937-1961
4
Oceanside, Calif
4)4
Ogden, Utah
--^)4
Orangeburg County, S. C
-.-.3
OrangetownU. F. S. D. No. 4.N.Y2.40
Onawa, Iowa
2%
Oregon, Wis
2%
Osceola County, Iowa
2)4
Ottawa School District, 111
3)4
Oto School District, Iowa
3)4
2095 Oak Hill, Ohio.
2097
l-10~yrs.
1596 Parsons, Kan
1915 Pass Christian,
1755,Pavilion,
A)4
Miss
Covington,
Bethany,
1937-1941
1937-1946
1937-1946
1937-1959
30,000
115,000
1,000,000
17,000
15,000
143,000
d400,000
r60,000
r56,000
r93,000
100,000
150,000
11,000
6,000
7,500
30,000
r37,000
500,000
6,500
280,500
4,255,250
7*25,985
1938-1939
1940-1947
1937-1966
1937-1953
1-20 yrs.
1942-1947
2)4
23i
5)4
2
1751 Pocahontas County, Iowa
1914 Port Huron, Mich
1941-1946
1937-1945
1938-1946
(2 issues)
1937-1951
2
4
4
3
1
1913 Portland, Me
1600 Powhattan Point, Ohio
Dak
1938-1945
1939-1956
lp48
1937-1939
Quincy, Mass
Randolph, Neb
Reading, Pa.
_.^_2.20 1937-1956
Red Bank, N. J._
1938-1952
Reno, Nev. (3 issues)
2%
Reconstruction Fin. Corp. (48 iss.) __
2253 Provo, Utah
1752
2248
1601
2248
2091
1909
Red Lodge, Mont
1753
2089 Remsen, Iowa
Rhode Island (.. tate of)
1603 Richland Spring, S. D., Tex
1921
2098 Rice Lake, Wis
2244 Ridgefarm, 111.
-—
1603 Roane County, Tenn
2251
Rocky, Okla.
1919
Rogers County, Okla
_
1939-1951
3
3
4
3
4
5
---6
1751 Russell, Kan
1937-1945
1950-1056
1941-1942
1943-1945
1915 St. Louis, Mo
i93~8M947
1602 Salem, S. Dak .w
2097 Salt Lake City Utah..^.
1917 Salina S. D. No. 3, N. Y
2087 San Francisco, Calif
1911 San Joaquin County, Calif
Issues)
1752 Scottsville, Ky__
2245 Scottsville S. D. No. 41, Kan
2092 Secaucus, N. J
1912 Shawnee County, Kan
1938-1950
1.80
4
234
434
1937-1944
1941-1950
1937-1946
10 yrs.
3
4
1937-1946
1937-1950
Sidney, N. Y
234
Sidney, N. Y
3
Silver City, N. Mex
4
Sioux County, Iowa
_.__-_-234
Sioux Falls, S. Dak
3
South Canon City, Colo.
5
South Milwaukee, Wis
234
South Union Twp S. D., Pa_
4
Speedway School Town, Ind
434
Stambaugh Twp. S. D., Mich __
Stamford S. D., Tex. (2 iss.)
4
Stillwater U. D. No. 1, N. Y
4
Strong City, Kan
Summit Co., Ohio
3
1938-1956
1754
2245
2096
2243
2098
1757
1912
2246
1603
1917
2245
1756
2248
1596
2249
2097
2253
2250
1756
1911
Toledo City S. D., Ohio
Trinidad S. D. No. 1, Colo
2087 Trinity County, Calif
2249 Troy, N. Y.
(3 issues)
...
2095 Trumbull County, Ohio
2096 Tyrone, Pa
1921
Uniontown City S. D., Pa
2095 Velva, N. Dak
1938-1942
1937-1956
2246
1913
1921
2094
2097
3
3
3)4
5
1.90
2)4
2]4
3)4
5
1597
__._1J4
Wellington, Kan
2
Willamina, Ore
4)4
Wyandotte County, Kan
2
Wyoming Exempted Village School
101.41
.
100.09
2.16
3.00
104.93
3.02
Yeadon, Pa
1919
covering 401 separate issues)
municipalities from
1939-1949
1600 Flushing, Ohio
6
1937-1941
1596 Harford County, Md
3
1938-1941
1596 Harford County, Md
3
1 yr.
1596 Henderson, Ky
3)4
1946-1956
1754,Hopatcong,N. J
4M
1937-1958
1596 Jefferson County, Kan
2)4
1938-1947
1604 LaCrosse, Wis
1)4
1937-1946
1600 Licking, Ohio..
2
1937-1944
1603 Middlebury Fire Dist. No. l,Vt..2%
1939-1956
1599 Mineola, N.Y
2.40 1937-1956
1595 Monroe School Township, Ind
3
1937-1947
1604 Prescott Sch. Dist., Wis
4
1939-1941
1911
Rigby, Idaho
3.75
1912
St. Albans Twp., 111. (May)
1595
Saluda School Township, Ind
10b"37"
1~68
1600
South Amherst, Ohio
101.35
2.01
1753
Spring Valley, Minn.
100.12
2.23
1597 Union, Minn
1601
100.39"
1.91
100.19
2.67
101.05
1.86
100
4.00
97.75
3.23
100.39
0.80
100.48"
2.15
100.74
100.106
1596
additional sales for
2
2
2
All of the above sales
including temporary
month $56,969,681.
RFC
or
Canada (Dominion of)
3
Canada (Dominion of)
Canada (Dominion of)
A)4
—
1922
Canada (Dominion of)
1.82
]922
Drumipondville, Que. (2 issues)
1922
Kemptville, Ont
....
Preston, Ont
2098 Ste. Agathe Des Monts, Que
4
3)4
Summerside, P. E. I
Total long-term
*
4
~-±)4
33^
1758
1604
2,462
400,000
100,000
85,000
rll5,000
25,000
300,000
20,500
18,000
125,000
100.04
105.31
102.24
100.54
97.31
101.70
100.26
103.29
100
5,200
10,000
r25,000
23,500
7,600
4,000
25,000
10,000
19,900
159,000
101.92
5.99
1.44
.075
3.70
4.54
1.94
1.70
1.20
2.75
2.37
2.65
.
100.33
-
100.004
100
101.68
100.47
4.00
2.74
3.40
101.08
—.
100.79
101.29
1.85
1.75
SEPTEMBER
Basis
Price
Maturity
Amount
1966 rd$55,000,000
lyx.
r45,000,000
*20,000,000
*25,000,000
1937-1966
163,000
1937-1956
38,500
5-10 yrs.
29,000
1937-1956
15,000
1951
50000
3.11
1.40
96.50
98.25
102.OS
105.27
4.00
3.46
100
100.50
Canadian debentures sold in Sept-.$100,295,500*
included in total for month.
Temporary loan; not
UNITED STATES POSSESSION
10~o".34"
2.45
3.24
3.19
3.43
and PWA loans) for that
Rate
Name
1922
2.45
2.15
100.29
99.35
DEBENTURES SOLD BY CANADIAN MUNICIPALITIES IN
100.29
2.35
Price
100.01
100.06
100.47
100.50
(except as indicated) are for August.
issues will make the total sales (not
112.15
103.915
Bast
Amount
$20,000
5,000
13,900
d2,000
44,000
100,000
11,500
These additional August
1922
BONDS ISSUED IN SEPTEMBER
2.16
7*420,000
Rate
3)4
Name
1911 Honolulu, Hawaii
Page
Maturity
1941-1954
Basis
2.60
Price
108.75
Amount
$500,000
50,000
3.76
2.86
2.80
2.82
4.00
4.25
3~20
4.40
4.00
2.64
2.74
3" 82
2.13
2.55
Invited on 70 Municipal Bond Issues Aggregating
$5,049,300—Ilflvas announced by the above Corporation on
Ocl. 2 that bids will be received until 12 m. Oct. 15, by
H. A. Mulligan, Treasurerer, for 70 issues of State and
municipal bonds aggregating $5,049,300, representing securi¬
ties taken over from Public Works Administration holdings.
The largest block of securities is $1,206,500 4% Board of
Education warrants of various Alabama counties and cities.
This block will be sold as a whole or by separate issues.
The
second largest offering is $500,000 of 43^% grade elimination
bonds of Akron, Ohio.
All issues being offered except this,
particular one carry 4% interest.
The issues offered arO
described briefly as follpws:
f
$29,000 Prescott, Yavapari* County, Ariz., sewer and sewage dispos^U
Bids
.
bonds, maturing
95
2.93
100.11
2V19
100.22
2.21
1938-1950
269,000
1938-1960
7600,000
7195,000
2,500
470,000
60,000
110,000
220,000
1938-1956
1937-1941
1937-1949
1938-1947
1938-1948
1946-1956
1-10 yrs.
5,000
7,000
23,000
15,000
1937-1966711,680,000
1939-1952
96,000
100.279
2.47
10018"
100.18
100.71
2.94
101.14
3.38»
100
5.00
100.299
2.41
100.518
101.92
3.34
100
3.48
100.332
2.45
100.526
1.76
100.493
2.178
100.09
2.86
100
103.17
3.20
50,000
100.57
1.06
30-50 yrs.
1940-1955
d400,000
4,000
30,369
105.07
3.24
5,000
11,500
25,000
16,000
29,000
1938-1958
;
165,000
25,000
85,000
r537,000
$158,409,135
and to mature in
100.25
sewage
disposal
works
revenue
"
bonds,
■>'-
i/
18,000 Dighton, Lane County, Kan., outfall sewer and disposal pla,nf
bonds, maturing 1937-1954.
s
'
->:7r
5,000 Alma, Michigan, sewage disposal system revenue bonds, matdrr
ing 1954-1955.
'V
f\
80,000 Monroe, Mich., serial sewage disposal bonds, maturing 19381956.
7,000 Ellendale,
5,500 Hoffman,
-
.
Steele
County,
Minn.,
waterworks
y
Grant County, Minn., waterworks
1937-1947.
6,000 North St. Paul, Ramsey County,
ment bonds, maturing 1937-1942.
bimds, maturing
T
r
Minn., waterworks improve•
20,400 Eureakal, Lincoln County, Mont., waterworks
bonds, series 1934, maturing 1938-1954.
improvement
^
36,000 Fairview, Richland County, Mont., waterworks bonds, maturing
1937-1954.
74,000 Board of Education of Township of Passaic, N. J., school district
bonds, maturing 1939-1957.
85,000 Rahway, Union County, N. J., trunk sewer bonds of 1935,
maturing 1937-1955.
17,000 Borough of Roselle Park, County of Union, N. J., trunk sewer
bonds of 1935, maturing in 1937-1955.
100.189
3.08
100
4.00
100.58
2.44
293,000 Board of Education of the Union County Regional High School
District No. 1, Union County, N. J., regional school district
bonds, maturing 1937-1965.
101.055
1.80
92,000 Board of Education of Union Free School District No. 3, Greenburgh, N. Y., high school building bonds, 1934, maturing 1959-
96.26
5.02
5,000 Board of Education of Town of Westfield, in the
Union, N. J., school bonds, maturing 1958-1960.
100.13
100.69
2.68
104.20
2.36
100.81
2.42
100.09
2.74
County of
1963.
44,000 Hempstead, Nassau County, N. Y., West Long Beach sewer
district bonds, maturing 1937-1952.
49.000 Sloan, Erie County, N. Y., Little Buffalo Creek improvement
bonds, maturing 1937-1955.
79,000 Union Free School District No. 29 of the Town of Wawarsing,
Ulster County, N. Y., school building bonds, maturing 19371960.
44,000 County of Hoke, N. C., school building bonds, maturing
the later year,
by
States
and
bonds.
1937-59.
77,000 County of Iredell, N. C,, school building bonds, maturing
r
1963.
1938-
,
215,000 Winston-Salem, N. C., sewer bonds, maturing 1940-1958.
500,000 Akron, Summit County, Ohio, 4)4% grade elimination bonds
(first series) maturing 1942-1966.
130,000 Dover, Tuscarawas, Ohio, first mortgage electric plant revenue
bonds, maturing 1936-1944.
,
-
improvement
h
bonds, maturing 1937-1954.
4.00
1937-1941
250,000
11,000
\
14,000 Beech
Grove, Ind.,
maturing 1937-1953.
5.00
101.12
2,100
20,000
ing $110,000, matures 1939-1946.
Another issue of transit/Spbd
and wharf bonds, aggregating $28,000, matures 1939-1945/,'• V-
—14,400 Shoshone, Lincoln County^,-Idaho, street improvement bonds,,
series of 1935, maturing 1937-1955.
*
69,000 Batavia, Kane County, 111., sewerage revenue bonds, maturing
2.17
10,000
30 yrs.
161.000 Stockton Port District, San Joaquin County, Calif., bonds. Thesq;
bonds are in three issues (one bid to cover all three issues).
Oiie,,
issue of cotton warehouse addition bonds aggregating $23,000; '
matures 1940-1944.
Another issue of warehouse bondh. aggregat¬
1.86
100.518
1937-1976
1937-1955
c
'
Calif., electric £
1937-1954.
3"bo
100
^
1948-1957.
177,000 Modesto Irrigation District, Stanislaus County,
revenue bonds of 1934, maturing 1940-1952.
100.753
1940-1955
1937-1939
4
RECONSTRUCTION FINANCE CORPORATION
2.58
items included in our totals for the previous
months should be eliminated from the same.
We give the
3)4
-.3)4
Wichita, Kan
Page
2~.74
1937-1945"
1937-1951
1937-1946
1939-1956
1938-1947
1937-1944
1937-1946
3
Warren County, Ohio
1922
funds obtained
agencies of the Federal Government, r Refunding
The following
-_--4
4
101.2029 2.16
100
3.92
call in and during the earlier years
Nbt including $101,029,798 temporary loans or
d Subject to
3~48
....
100.42
Youngstown. Ohio
Total bond sales
'
100.04
100.20
1939-1955
2)4
1941-1950
2)4
for September (326imunicipalities,
2252
3)4
-
100
100.04
1939-1943
1938-1951
1938-1944
1937-1951
-
101.05
100T6~
3-3)4
-
Corbin, Ky
Dill City Sch. Dist., Okla
1601
3.58
1938-1953
—2;4
District, Ohio
1596
100.62
2.21
1937-1946
Winchendon, Mass. (2 issues)
1753 Yazoo County, Miss.
1599
3.00
100
Okla
3)4
Beloit School District, Ohio
3)4
Clarion Township Sch. Dist., Pa..33^
Colonie, N.Y. (3 issues)
2)4
1600
lbb". 16"
Maturity
Rate
Name
1601
100.56
1937-1939
1937-1940
2)4
Y
2". 13
100.80
1943-1949
White Haven, Pa
2251
100.883
108.45
Whiting Sch. Dist. No. 3, Kan
1921
2245
Addington Sch. Dist., Okla
3.25
1939-1955
.
1912
2251
Ada,
1601
_
.2)4
Virginia, Minn
2
Virginia (State of)
1% & 2)4
Wake County, N. C
2)4 & 3
Wapakoneta, Ohio...
4
Washington &
Clackamus Cos.
H. S^>. Nos. 9-22, Ore..
3)4
Watertown, Mass.
...1)4
Washington
Suburban
Sanitary
District, Md
3)4
Waubay.S.Dak
4
West SenecaJWat. D. No. 1, N. Y.3.10
Wheeler School Dist., Tex
4
1917 White Plains, N.
2245
1601
"2.U
2091
1601
Page
2.72
101.18
105.03
1938-1940
2095
2.36
100.25
100.63
1938-1944
2094
100.11
1937-1950
3)4
2251 Vera, Okla..;
Basis
Price
Amount
$45,000
previous months:
1938-1945
2244 Vermillion County, Ind
2253
2.87
3,000
150,000
68,000
1937-1955
56,000
1937-1938
15,000
7*52,000
1937-1941
2,500
10 yrs.
19,525
1941-1945. "7734,000'
85,000
Summit, N. J
2.20 1937-1953
1937-1946
60,000
Sumner County, Kan
2)4
1938-1954
100,000
Parrytown, N. Y. (3 issues)
2)4
9 yrs.
81,000
Tennessee (State of)
--2%
20,000
Thurston Co. S. D. No. 319, Wash3
2 yrs.
15,000
Tiffin, Ohio
3Vs
1938-1951
490,000
Toledo, Ohio,
.2%
1756 Toledo, Ohio (3issues)
2251
1937-1946
.
Maturity
Rate
We have also learned of the following
100.377
1937-1946
1936-1963
1937-1946
234
2244
found.
Name
Gallatin, Tenn. (July)
101.44
102.407
1939-1962
1756 Shelby, Ohio (3 issues)
2249
of our paper in which reasons for
4.00
1938-1947
234"
2247 Sherburn, Minn
1597 Shelby, Mich
100
18,000.. 102.23
99.50
770,000
100.41
24,000
113.75
482,000
111
10,000
13,000
100.26"
885,000
100
35,000
101.07
7,000
100
10,000
100.02
40,000
100.38
7-450,000
103
2,500
102.80
60,000
10,000
lbb""""
2,050
100.72
14,000
100.147
38,000
2,500
lbl"36~
55,000
100.86
500,000
1944
_334
5
234
1919 Shaker Heights, Ohio.....
Page
1758
'
1939-1966
1751 Sedgwick County, Kan
2087 Shasta County, Calif
page number of the issue
these eliminations may be
7-382,000
1942-1946
1597 Sauk Rapids, Minn
1917 Schenectady, N. Y. (4
100.10
30,000
2.90
4
5
i
,
500,000
1953
3)4
234
i.__-i._-4
1919 Salem, Ore
100
7-35,000
--
234
2%
2247 St. Marys, Mo
15,000
59,000
4,000
dr75,000
6,800
10,000
15,000
1938-1947
2%
2089 Sac County, Iowa
60,000
1,200,000
1944-1951
3
1919 Rogers County, Okla
k
30,000
15,000
23,000
1941-1943
2089 Pocahontas County, Iowa
2095 Powers Lake, N.
12,437
118,000
1940-1956
-
2091 Pontotac County, Miss
2094 Port Jervis, N. Y.
18,000
1937-1955
Y_..._2.20
1599 Perlnton, N. Y
3
2251 Perry, Okla..^
2, 3% & 3
2096 Perry Township, Pa
4
1756 Phillipsburg Sch. Dist., Ohio
334
2097 Phoebus, Ya.,
--3)4
1593 Phoenix, Ariz
—3)4
1593 Phoenix, Ariz
3
2096 Pittsburgh School District, Pa
234
1596 Pittston, Me
3%
2091 Plattsburgh, Mo
4
&c., Sch. Dist. No. 1, N.
2245 Polk County, Iowa
3.00
2.22
3,500
1598 Northview School
2089 Norton School
2243
Basis
Price
Maturity w Amount
Name
Rate
District, Mo—5
District, Kan
3
1919 Norwood, Ohio
2)4
1601 Oakdale Sch. Dlst. No. 97, Okla__
Page
1936
10,
Oct.
Chronicle
Financial
2402
.
Volume
Financial
143
^mberg^ S. C., water and
actually sold $243,611,052 worth of bonds to the public.
Sales to third
parties, maturities, and grant cancellations total $9,003,758.
Left on the
Public Works Administration's books are bonds with the face value of
$142,050,625, which may be-sold as funds are required by PWA.
The PWA has obligated itself to boy $788,000,000 of municipal bonds,
but the remainder of these will be purchased only as money is required by
-
non-Federal
sewer revenue bonds, maturing
35,000 Greenville County, S. C., highway bonds, maturing
11,900
funds needed advantageously
Ickes by the Legal Division, a
picture of the rapidity with which applicants are accepting offers, of allot¬
ments from the pWA is given.
The first allotment list of 347 projects was given approval by the Presi¬
dent on Aug. 12.
These offers were then mailed to the State offices for
transmittal to applicants on Aug. 21.
Each contained a memorandum
signed by Horatio B. Hackett, Assistant Administrator, requesting accept¬
school building boDds, maturing 1937-1954.
k
bodies to continue construction in the event borrowing com¬
munities do not find they can obtain the
from private investors.
In a special report made to Administrator
19,500 Fairforest School District No. 2 of Spartanburg County, S. C.,
o
2403
Chronicle
139,000 Board of County Commissioners of Lawrence County, Ohio,
County hospital bonds, maturing 1937-1961.
31,000 Grants Pass, Ore., sewage disposal bonds, maturing 1937-1952.
11,000 Union High School District No. 1, Marion County, Ore., school
building bonds, maturing 1939-1949.
12,000 Warwick, R. I., serial school bonds, series of 1934, maturing 1964.
66,500
1936-1938.
Mc^tOT^Union County, S. Dak., waterworks bonds, maturing
22,500 Chamberlain, Brule County, S. Dak. bonds.
These bonds are
m two issues
(one bid to cover both issues).
One issue of water
filtration plant bonds, series
A, matures 1937-1954.
Another
days and requiring that the applicant covenant
project by Oct. 1.
received within the 10 day
109,000 Brownsville,
Texas, waterworks and electric light systems
period.
This left 50 acceptances pending for the following reasons:
Five
—acceptance proceedings received in State office but returned to applicant
revenue bonds, series 1934, maturing 1937-1954.
24,000 Cameron, Texas, Milam County, sewer revenue bonds, series
fqr correction; three—notification of informal acceptance received but
'^formal proceedings not yet completed; six—extension of time for starting
1934. maturing 1938-1959.
32,000 Farmersville, Texas, water system revenue bonds, series 1934.
construction of project pending; 12—extension of time for starting con¬
maturing 1937-1956.
struction of project approved;
J
■
/
11—offer rejected and allotment to be
,
?* water filtration plant bonds, series B, matures 1937-1941.
Walworth County, S. Dak., storm sewer system
„
ance
13,500 Mobridge,
n,
Of the 347 offers sent, 297 acceptances were
nnn
ort
of the offer within 10
to start construction of the
™orm se^?r district No. 1 bonds, maturing 1937-1951.
_
19,000 Goose Creek, Texasrwuter works and sewer systems revenue
bonds, maturing 1937-1947.
16,000 Hearne, Robertson County, Texas, water, electric and sewer
rescinded; six—offer not accepted because applicant was unable to guar¬
antee starting of construction within reasonable time.
Allotments to be
rescinded:
Six—offer revised and resubmitted to applicant because of
requested changes in project, thereby making accpetance pending; one—
awaiting information regarding acceptance from the State office.
All of these offers were made contingent upon acceptance that work be
commenced by Oct. 1, 1936 and be planned so that it would reach a sub¬
stantial peak by Jan. 1, 1937 and that the project would be completed by
Oct. 1, 1937.
>
"If for any reason, it is impossible to comply with this requirement,"
wrote Colonel Hackett, "the offer should not be accepted but should be
returned immediately to the State Director."
revenue bonds, maturing 1937-1944.
,™
103,000 Sweetwater, Texas, water system revenue bonds, series 1934,
maturing 1937-1957.
400,000 Board of Regents of the University of Texas, library notes,
maturing 1943-1948.
27,000 Fountain Green City, Utah, bonds.
These bonds aVfe in two
issues
(one bid to
cover
both issues).
One issue of waterworks
improvemejaf
bonds, matures 1937-1965.
Another issue of
watCTworj|s improvement revenue bonds, matures 1938-1961.
_
...
40,600 Big Stone Gap, Wise County, Va., water improvement bonds,
maturing 1938-1959.
39,000 Middleourg, Loudon County, Va., waterworks bonds, maturing
lyoo-iyoy,
«o
department bonds, maturing 1937-1964.
n™
—ALL ISSUES
23,000 Morton, Lewis County, Wash., 1936 water revenue fund bonds,
Bought—Sold—Traded
maturing 1938-1957.
20,000 County Board of Education of Cherokee County, Ala., county
homas M. Cook &
school
warrants, maturing 1937-1954.
34,000 County Board of Education of Clarke
County,
warrants, maturing 1937-1954.
66,000 County Board of Education of Clay County
70,000 County Board Of Education
,,
,
school
20
SOUTHERN
Ala., county school
of Cleburne
llo.OOO County Board of Education of Crenshaw County, Ala., county
^.school
52,000 Board
Teletype
W.P.B.
82
Grefat Britain—Municipal Debt placed at $6,250,000,000
®chool warrants, maturing 1937-1961.
oo
by English Official—Municipal indebtedness in Great Britain
approximately to $6,250,000,000, according' to
L. Hill, director of the National Association of Local Govern¬
ment Officers of England, in an address before the Municipal
83,000 City Board of
Education, Florence, Ala., school warrants, maturing 1937-1946.
106,000 County Board of Education of Houston County, Ala., county
™
amounts
^school warrants, maturing 1937-1949.
96,000 County
Board
of
Education
of
Lamar
County,
Ala., county
Bond Club of
school warrants, maturing 1937-1956.
™
66,000 County Board of Education of Lauderdale County, Ala., county
school warrants, maturing 1937-1946.
6,000 County Board of Education of Lawrence County, Ala., school
of Limestone
County, Ala., county
school warrants, maturing 1937-1955.
™
of years.
Extensive
100,000 County Board of Education of Marshall County. Ala., county
school warrants, maturing 1937-1943.
/o,000 County Board of Education of Pickens County, Ala., county
school warrants, maturing 1937—1955.
25,000 County Board of Education of Pike County, Ala., county school
_
_
safeguards have been set up to protect municipalities from
but this has not prevented a vaSt extension of the social
A century ago local authorities collected only
$50,000,000 annually for discharge of all their functions, but the total since
has risen to $2,000,000,000.
In the same period administrative boards
have been reduced from 30,000 to 12,000.
Each of themnits has a qualified
financial officer in charge, and the so-called "trustee"' issues are assured of
continued service for this and other reasons.
Methods of local government borrowing still are diverse, and in some
instances they reflect practices in vogue centuries ago.
The old system of
financing municipal requirements by means of "mortgages," in which local
residents invest small sums, still remains popular.
Annuities sometimes
are issued, and these constitute an attractive form of investment.
Birming¬
ham has a municipal savings bank which uses deposits to finance local
government needs.
A few large municipalities have the power to issue
money bills, but this practice is not being encouraged.
Most of the financ¬
ing, of course, is dong through issuance of "stock," as bonds still are called
in England.
over borrowing,
services, it was indicated.
—_
warrants,
31,000 County
maturing
Board
of
1937-1945.
Education
of
Shelby
County,
Ala.,
school
warrants, maturing 1937-1951.
23,000 City Board of Education of Tarrant City, Jefferson County,
Ala., school improvement warrants, series A, maturing 1937-51.
20,500 Board of Education of Troy, Pike County, Ala., city school
districtrwarrants, maturing 1937-1947.
-
63,000 Countv
Board
of
Education
of
Winston
County, Ala., school
warrants, maturing 1937-1953.
Report
a
on
Loans Made to Districts—The following is the text
statement
released
on
Oct.
7
by the above
named
Corporation:
Kentucky— Court Holds Legal Reductions" of Interest on
Mutual Agreement—-In a decision handed down
was ruled by Circuit Judge William B. Ardery
that the State Treasurer has a right to enter into voluntary
Loans for refinancing one domestic water district in Colorado, one
drainage district in Florida, for refinancing and rehabilitating one drainage
district in Mississippi and one levee improvement district in Texas, aggre¬
gating $530,000, have been authorized by-tlmReconstruction Finance
Corporation.
This makes a total to date of $123,341,907.60 authorized
.
under the nrovisions of Section
36, Emergency Farm Mortgage
amended.
The districts
Warrants by
on Oct. 2 it
Act of 1933,
"agreements with holders of State warrants to reduce thd
interest rate on such obligations, according to an Associated
are:
BodeMesa Domestic W^ter District, Delta County, Colo
$21,000
Lake Worth Drainage District, Palm Beach County, Fla_
427,500
Asca'lmore Drainage District No. 1, Tallahatchie County, Miss.
Refinancing, $22,000; rehabilitating, $17,500; total.
39,500
Ivaufman County Levee Improvement District No. 15, Kaufman
attd Dallas Counties, Tex. Refinancing, $22,000; rehabilitating,
$20,000; total
42,000
Loans authorized to the following districts have been rescinded:
Newport Levee District, Jackson County, Ark
$148,000
Pinellas Park Drainage District, Pinellas County, Fla
31,000
Drury Drainage District, Rock Island County, 111
47,500
Strayhorn Creek Drainage District, Tate County, Miss
19,000
Press
company
WORKS
ADMINISTRATION
'
tamed Federal agency:
Administrator Harold L. Ickes today announced presidential approval
of Public Works Administration allotments to 146 communities in 40 States
and three possessions for projects for a total construction cost of $18,429,500.
With waterworks, schools, bridges, and street improvements predomi¬
nating, the allotments included $8,283,486 for grants and $1 ,"639,700 for
The latter were made only to 24 applicants.
Since and including July 28 the PWA has made allotments for more than
985 projects with an estimated construction cost*of $134,926,500.
For this
the Federal government has granted $61,250,000. Because local communities
counties and States have found it possible to procure their own shares, or
55%, from either local financial circles or their own coffers, it has been
necessary for the PWA to loan but $5,800,000.
These secured interest
bearing bonds, will be purchased when the communities qualify with PWA
requirements^ They will be turned into the revoling fund, and, if similar
to past transaction, as
repeated, will be sold at a profit by the Federal
loans.
government.
As of Sept. 29, the finance division of the PWA reported to Administrator
Ickes that interest and bond sales profits had totaled $24,436,671.
Of this
amount $8,250,548 was clear profit on bonds sold through the Recon¬
Corporation, which acts as a sales agency for the PWA.
Applicants, who have turned their bonds over to the PWA, have paid a
total of $16,186,122 interest, all of which goes directly into the United
States Treasury.
The profit from bond sales, reverts to the revolving
struction Finance
fund.
The PWA has purchased, to Sept. 29, $599,327,306 of bonds, of which
$448,272,921 have been turned over to the RFC. Up to Sept. 1, RFC had
purchased^the warrant from the Buchanan-Lyon
to cooperate
with the State Treasurer in bringingvthe matter before the courts.
The case will be taken at once to the Court of Appeals, and it is expected
—
PUBLIC
disptach from Frankfort.
Judge Ardery sustained the Commonwealth's demurrer to a test suit
Bankers Bond Co., Louisville, asking the court for a man¬
damus to compel the State Treasurer to restamp a $500 "test" warrant at
the statutory 5% interest rate. The warrant bears an agreement by whicn
the original holder, Buchanan-Lyon Co., accepted 3% interest. The bond
filed by the
—
REPORT ON FINANCIAL TRANSACTIONS UNDER NEW FEDERAL
PROGRAM—The following is the text of the introductory remarks given
Dn a lengthy press release
(No. 2096) made public on Oct. 6 by the above
fNew York at a meeting held on Oct. 6.
Municipal defaulters are unknown in England, Mr. Hill pointed out,
partly because the various national government departments are the supreme
authority in determining the borrowing limits of the local units.
Under
national legislation, moreover, the local authorities must repay loans within
a limited period.
Even so, the loans seldom run for the maximum number
^arrants- maturing 1937-1942.
rr
55,000-County Board of Education
,\as
Bell
News items
warrants, maturing 1937-1956.
of Education of Fairfield, Jefferson County, Ala., city
district warrants, maturing 1937-1951.
100,000 County Board of Education of Fayette County, Ala., county
of
Fla.
County County, Ala.,
9?unty sch°ol warrants, maturing 1937-1950.
^
„
Company
Years Experience Handling
Telephones 8188-8189
MUNICIPALS
West Palm Beach,
^arr<mb3, Wturing 1937-1958.
™
\
Ala.,
BONDS =
LORIDA
^
302,000 Tne Rector and Visitors of the University of Virginia, engineer-
to be placed on tbe Higher court's docket next week.
Judge Ardery also held that tne State Treasurer was within his rights in
issuing a warrant with interest coupons attached. Tbe test warrant bears
six coupons which the holder may clip to collect interest on the obligation
semi-annually.
Reduction of tbe interest rate to 3%, State Treasurer John E. Buckingham said when he announced his refinancing plan, would result in an
immediate saving of $318,000 interest on the basis of the present warrant
debt of approximately $15,900,000.
He expressed confidence after Judge
Ardery's decision today that the plan would be approved by the Court
of Appeals. Judge Ardery raised the question of public policy.
He asked: What
was there to prevent the Treasurer from discriminating in interest rates
paid? What was there to prevent him from rewarding friends and punish¬
ing enemies Xfa issuing warrants at various rates of interest ?
Former Appellate Judge Richard P. Dietzman, who represented the bond
company, gnd who explained he believed the Treasurer had the right to
issue
3%/warrant, said the financial market would take care of that
situation/
Assistant Attorney General M. B. Holifield, who represented the Treas¬
urer, exokbinea that both the Treasurer and Commissioner of Finance
must approve the issuance of any interest-bearing warrant under the
reorganization act. He remarked that the same argument of discrimination
could have been raised against the practice adopted a number of
years
ago of requiring banks to pay interest on State deposits.
Judge Ardery, in a brief order, sustained the Commonwealth's general
demurrer to the petition for a mandamus.
New York City—Charter Revision Act Upheld on
Appeal—
Referendum Now Assured—A referendum vote at the Nov. 3
general election bn the proposed new city charter was assured
Oct. 6 when tne Court of Appeals unanimously
upheld the
constitutionality of the Charter Revision Commission Act,
thereby reversing
a
decision handed down
on
Sept. 23 by
Financial
2404
Justice Charles J. Dodd, of the Supreme
Chronicle
Oct.
Court in Brooklyn.
We qupte in part as follows from an Albany news report
to the New York "Herald Tribune" of Oct. 7, dealing with
the
10, 1936
arkansas
high court's decision:
Justice Dodd, on a petition
State & Municipal Bonds
of Edward J. Mooney, a Brooklyn trucking
Revision Commission Act unconstitutional
prohibiting submission of the proposed new charter to
a referendum.
Justice Dodd held that the creating of a commission to draft
a proposed charater to be submitted to a vote of the people was an un¬
constitutional delegation of legislative power.
The Court of Appeals, in an opinion by Chief Judge Frederick D. Crane,
contractor, ruled the Charter
and issued an order
WALTON, SULLIVAN & CO.
LITTLE
ST. LOUIS, MO.
ROCK, ARK.
held
today, however, that under the home rule amendment to the Consti¬
by a two-thirds vote of each house, with an emergency
message from the Governor, can "pass any law relating to the property,
affairs or government of a single city."
"That the Legislature could not heretofore submit to a city or the
electorate of a city the framing of their own charter and its adoption by
the vote of its citizens," Judge Crane wrote, "is and was due to the provi¬
tution the Legislature,
sions of the Constitutionmhich said:
'The legislative power of this State
shall be vested in the Senate and Assembly.' "
ARKANSAS
FAULKNER COUNTY (P. O. Conway), Ark.—ASSESSED VALUASHOWS SLIGHT DECLINE—'The valuations of real estate and
TION
total $3,441,755,
personalty, as reported by the Board of Equalization,
compared with $3,520,787 in 1935, it is stated.
After observing that it was because of this constitutional provision that
the Court had repeatedly held that the Legislature could not delegate its
authority and pass on its law-making functions to other bodies or commit¬
tees—that "it cannot abdicate its constitutional powers and duties"—
Judge Crane went on to state that there was another constitutional pro¬
vision, known as the home rule provision "which has restricted the legisla¬
tive powers of the Senate and Assembly, and has vested power in the cities."
York State—Court Upholds Right of Municipality
Operate Utility Plants at Profit—The Court of Appeals on
Oct. 6 upheld the right of a municipally-owned power plant
to charge rates sufficient to return profits, according to
Albany press dispatches.
The Court, ruling on the case of
the Booneville^ Oneida County, municipal po^er plant,
decided unanimously that the town, plant may be operated
at a profit, but left to the determination of the Public Service
Commission the amount of profit, it is said.
The said commission brought the case to the highest court,
asserting a municipality should not be permitted^ to operate
a power plant at
a profit and use such profits to reduce
property taxation, in the absence of any legislative prohibi¬
California
Municipals
New
clared unconstitutional
Oct. 5 the
on
193/4 Mortgage Defici¬
Judgment Act, designed by its sponsors to help debtors
who lose their property through forced sales, according to an
Associated Press dispatch from Pittsburgh on Oct. 5.
It is
said that the Court held the measure violated the impairment
ency
of contract sections of both the Federal and State constitu¬
tions.
ruling reversed
a
decision by Judge W. A.
McConnell in Beaver County, who upheld the act in the case
of the Beaver County Building & Loan Association vs.
Nicholas Winowich and Martha Winowich, Beavy County
CALIFORNIA
ALAMEDA COUNTY
V
House
(P. O. Oakland), Calif.— WARRANT SALE—
anticipation warrants offered for sale on Oct. 6
awarded to the Bankamerica Co. of San Francisco
.30%, according, to the County Clerk.
Redeem¬
i
The $220,000 issue of tax
—V. 143, p., 2243—was
at an interest rate of
able
Dec. 31, 1936.
on
ANTIOCH, Calif.—BOND OFFERING—The City Council has ordered
the sale on Oct. 13 of $6,000 water pipe line bonds.
Due $5,000 Jan. 1,
1955 and $1,000 Jan. 1, 1956.
information
Oct.
a
p.
Committee
revenue
and
»
Approves of
taxation
on
State
on
following information is furnished in connection
of State Harbor Commissioners
San Francisco
California—Board
of
Total cash and estimated revenue to June 30, 1937
Proposed expenditures July 1, 1936 to June 30,1937:
$4,320,549.08
'
Operating expenses
$1,621,876.96
Capital expenditures (construction from Harbor lmpt. Fd.)
50,000.00
Annual interest on present bonded indebtedness
736,120.00
Annual redemption on present bonded indebtedness—_ —
331,400.32
Bond interest on additional bonds to be sold
28,000.00
Bond redemption on additional bonds to be sold
8,860.00
$2,776,258.08
•
Est. cash balance San Fran. Harb. Impt. Fund June 30
'37 $1,544,291.00
$44,487,109.11
55,406,849.93
Fixed assets July 1, 1936—Land
Buildings and structures
Total land and buildings
$99,893,959.04
Total bonded indebtedness July 1, 1936
$18,403,000.00
700,000.00
Total amount of proposed sale
been shelved for the session.
Total bonded indebtedness, incl. proposed
expenses of administration, operation and maintenance are paid.
Interest
on the bonded indebtedness and sinking fund contributions for retirement
MUNICIPAL BONDS
of the bonded indebtedness
Francis, Bro. & Co.
are
also met from this fund.
Proceeds from the sale of bonds
are
not included in the
San Francisco
Harbor Improvement
Fund, but under law are kepj; separately to be used
exclusively for the construction of facilities.
_j
1877
Investment Securities
LOS ANGELES,
TULSA
ST. LOUIS
$19,103,000.00
$1,862,078.98
Note—The San Francisco Harbor Improvement Fund represents the fund
in which all revenues earned by the port are deposited and from which all
Arkansas- -I llinois—Missouri—Oklahoma
ESTABLISHED
sale—
Accum. in sink, funds for bond redemp. July 1, 1936
WANTED
Operating the
Port of
Cash Position July 1, 1936, and June 30,1937
San Francisco Harbor Improvement Fund bal. July 1,1936__ $1,575,549.08
Estimated revenue July 1, 1936 to June 30, 1937—
2,745,000.00
6
reported favorably the James-Fraser Omnibus Tax Bill,
increasing rates 373^% on oil, gas, sulphur, utility receipts,
bus, tru<^k and rail revenues, pari-mutuel wagers and other
levies expected to raise $13,000,000 a year for old age pen¬
sions, it is stated in an Austin report. The Pope Sales Tax
Bill and a number of other tax proposals are said to have
OFFERINGS
with the above
Statement of Relative
,
Oct.
in connection with the offering scheduled fon
San Francisco Harbor iinpt. bonds,I
which was given in these columns recently—V. 143 J
furnished
2243;
The
Tax Increases—
committee
is
22 of the $700,000 issue of 4%
detailed report
official notice;
residents.
The
Teletype-S F 396
Telephone Exbrook 7067
CALIFORNIA, State of—FINANCIAL STA TEMENT—The following
Pennsylvania—1934 Mortgage Act Ruled Invalid by State
Supreme Cotirt—The Supreme Court of Pennsylvania de¬
Texas—House
San Francisco, Calif.
111 Sutter St.
tion to the contrary.
The high court
& CO.
DONNELLAN
to
Calif.—SPECIAL ELECTION
AUTHORIZED—The
City Council on Oct. 6 ordered a special election to be held on Pec. 8 on
the proposed issuance of $46,540,000 in bonds to finance the purchase by
the Los Angeles Bureau of Power and Light of the electric system of the
Los
Angeles Gas & Electric Corporation, according to news dispatches
Angeles.
It is stated that the voters will also pass on a proposed
from Los
Bond Proposals and Negotiations
charter amendment to grant to the gas corporation and its affiliated com¬
panies a 35-year franchise td conduct gas through the city streets.
LOS
ALABAMA
ALABAMA,
State
of—BOND
SALE
CONTEMPLATED—As an¬
at Montgomery by Governor Graves, the State of Alabama is
negotiating to obtain $2,500,000 to match Federal funds in a $5,000,000
highway construction program. The announcement was made on the day
the (State celebrated the lifting of tolls on 15 State-owned bridges. Governor
Graves expressed the belief that expenditure of $5,000,000 would bring the
highway system to a point of development where it would adequately
nounced
serve
the State.
CHfeROKEE COUNTY
(P.
O.
Center), Ala.—BONDS VOTED—At
Oct. 1, tne voters are reported to have
approved the issuance of $35,000 in court house erection bonds by a wide
an
election said to have been held
on
margin.
FLORENCE,
AUf—PWA
APPROVES
TENNESSEE
BRIDGE
PRO¬
POSAL—An Associated Press dispatch from Washington, D. O., on Sept. 30
had the following to say:
"The Alabama Highway Commission's plan to finance with revenue
bonds 55% of the total cost of a proposed new bridge across the Tennessee
River between Florence and Sheffield was approved today by the Public
Works Administration.
"The revised project retained its place on a long list eligible for allotment.
Originally, the application asked a PWA loan of 55% and a grant of 45%.
The plan to obtain the loan from private sources followed an announcement
by PWA officials that preference would be given to projects involving
grants only.
The total cost of the bridge was estimated at $1,556,364."
ARIZONA
MIAMI,
Ariz.—WARRANTS
CALLED—The following warrants are
reported to have been called for payment and should be forwarded to the
Town Treasurer, as interest ceased on Sept. 23: To and including No.
12,890 of street fund warrants, dated Oct. 31, 1933.
To and including
No. 16,680 of general fund warrants, dated Oct. 15, 1935.
To and in¬
cluding No. 16,133; also numbers 16,233, 16,556, 16,763, 16,800, 16,802,
16,970 and up to 16,975, 17,134, and up to 17,137, 17,346, and 17,851;
also all bond coupons not exchanged for warrants, which were due July 1,
1934, or prior.
.
ANGELES
COUNTY
(P*
O.
Los
Angeles),
Calif.—BOND
ELECTION—It is reported that an election has been called for Oct. 20
in order to vote on the issuance of $50,000 in Covina Union High School
District bonds, to be used in connection-with a Public Works Administration
allotment.
ORANGE COUNTY (P. O.
Santa Ana), Calif.—BOND ELECTION
reported that an election will be called in the
on the proposed issuance of $2,OO(J$O0 in water
less, as the county's portion of a $15,000,000 Federal
CONTEMPLATED—It
near
is
future in order to vote
construction
bonds,
or
works project.
v
REDONDO
held
on
ance
of
BEACH, Calif.—BOND ELECTION—An election will be
Oct. 20, according to report, in order to vote on the proposed issu¬
$300,000 in water plant bonds.
RIVERSIDE COUNTY (P. O. Riverside), CaliE—BONDS VOTED—
At the election held on Sept. 22, the voters approved the issuance of $110,000 in Banning Union High School District bonds according to Le Roy W.
Beam, District Principal, by a count of 436 to 156.
Int. rate is not to
exceed 5%,
payable semi-annually.
Due as follows: $5,000 from 1941 to
$10,000 in 1961.
He states that a Government grant of 45%
requested on this project, which is expected to cost about $250,000.
1960 and
has been
SACRAMENTO, Calif— BOND SALE—The $130,000 issue of munici¬
pal improvement bonds offered for sale on Oct. 7—V. 143, p. 2243—was
awarded to the Capital National Bank of Sacramento, paying a premium
of $155.50, equal to 100.116, a net interest cost of about 2.57%, on the
bonds divided as follows: $24,000 as 4s, maturing $3,000 from Jan. 1, 1937,
to 1944, and the remaining $106,000 as 2Hs, maturing on Jan. 1 as follows:
$3,000, 1945 and 1946, and $5,000, 1947 to 1966 incl.
SAN
BERNARDINO
COUNTY
(P.
O. San Bernardino),
Calif.—
BOND OFFERING DETAILS—The $30,000 Fontana Elementary School
District bonds for which H. L. Allison, County Clerk, "will receive bids
until
11
a.
m.
be dated Nov.
13—V. 143, p. 2243—will bear interest at 4%, will
1, 1936, aiM will mature Nov. 1, 1951.
Denom. $1,000.
Oct.
Certified check for 5%, required.
SAN
FRANCISCO
(Ci4
and County)
Calif.—NOTE OFFERING—
It is reported that sealed bids will be received until Oct. 13, by the Clerk
of the Board of Supervisors, for the purchase
anticipation notes.
Dated Oct. 13, 1936.
of a $2,000,000 issue of tax
Due on Dec. 21, 1936.
\
Volume
Financial
143
STANISLAUS COUNTY (P. O. Modesto), Calif.—BOND OFFERING
—Sealed bids will be received by C. C. Eastin, County Clerk, until 2 p. m.
on Oct. 13, for the purchase of a $5,000 issue of La Grange School District
bonds.
Int. rate is not to exceed 5%, payable A. & O.
Denom. $500.
Dated Oct. 1, 1936.
Due $500 from Oct. 1, 1938 to 1947, incl.
Prin.
and
int.
refunding agreement whereby substantially all the bonds of the city are
to be exchanged at par for new bonds due 1972 and bearing rates of interest
ranging from 3 to 5%.
The city is'to establish a sinking fund for retire¬
ment of the new securities, while a redemption feature provides for possible
call of the bonds at par until 1957, at 101 thereafter to 1962, at 102 there¬
after to 1967, and then again at par to maturity.
1
payable in lawful money at the County Treasurer's office.
A
10% of the amount of bonds bid for, payable to the
of the Board of Supervisors, is required.
certified check for
The "Wall Street Journal" of Oct. 5
Chairman
new
_
will
Ka
XII
1A
1
„
"t
_
J
Cli.^
X
WASCO PUBLIC UTILITY DISTRICT
(P. O. Wasco), Calif.—
SALE—An issue of $75,000 4££%
sewer
system
construction
BOND
bonds has been sold to Banks, Huntley & Co. and Griffith, Wagenseller &
Co. of Los Angeles at a premium of $150, equal to 100.20.
Rocky Mountain Municipals
ARIZONA—COLORADO—IDAHO—MONTI ANA
NEW MEXICO
—
WYOMING
.
new
held Nov. 17.
*
"The new pact will supersede the agreement of Oct. 12, 1933, which was
impossible to consummate, due to legal difficulties and the absence of
statutory provisions for enforcing payment of delinquent taxes.
"Under terms of the new agreement outstanding bonds would be ex¬
changed par for par with refunding bonds which are to mature Oct. 1, 1972.
The new bonds would bear interest at 3% from date of the issue to Sept. 30,
1947; at
from 1947-52; 4% from 1952-57; 4M% from 1957-62 and
5% from 1962 to 1972.
This schedule of interest is arranged to give an
average annual interest rate of 4%.
'
"The city agrees to establish a sinking fund to retire the principal of
refunding bonds, commencing with the fiscal year 1938-39, by levying
ad valorem taxes in amounts ranging from 0.50% to 2.50% of the principal.
The refunding bonds are to be redeemable on any interest payment date
at par on or before Oct. 1, 1957; at 101 until Oct. 1, 1962; at 102 until
Odt. 1, 1967; and thereafter at par."
SUMTER
DONALD F. BROWN & COMPANY
—
An
COUNTY
(P.
O.
Bushnell).
Fla.—BOND ELECTION—
election is said to be scheduled for Oct. 20 in
vrder to vote on the pro-
gosed issuance ofjail and $4,000 vault-erection bonds. Due on April 1 as
$35,000 in 5% bonds, divided as follows: $24,000 county
ospital, $7,000
DENVER
Telephone: Keystone 2395
reported in part as follows on the
agreementrproviding for the refunding of substantially all of the
outstanding bonded indebtedness of St. Petersburg, Fla., has been entered
into between the city aqd the bondholders' committee.
The agreement,
dated Sept. 25, is subject to the approval of voters at a referendum to be
(P. O. Visalia), Calif.—BOND OFFERING—
*
Sealed bids will be received until 10 a. m. on Oct. 20, by Gladys Stewart,
County Clerk, for the purchase of an $85,000 issue of Dinuba Joint Union
High School District bonds.
Interest rate is not to exceed 5%, payable
A. & O.
Denom. $1,000.
Due on Oct."l as follows:" $3,000, 1937 to 1951,
and $4,000,1952 to 1961.
Prin. and int. payable at the County Treasurer's
office.
A certified check for 5%, payable to the Chairman of the Board of
Supervisors, must accompany the bid.
K,VIr,
plan:
"A
COUNTY
TULARE
2405
Chronicle
Teletype: Dnvr 51
follows. $1,000,
1938, and $2,000, 1939 to 1955 incl.
GEORGIA
COLORADO
AMERICUS, Ga.—BOND ELECTION—It is said that
DENVER (City and
County), Colo—BOND OFFERING—It is stated
P. McGuire, Manager of Revenue, that on or about Oct. 15,
bids will be received for the purchase of $250,000 general obligation public
works bonds.
Bidders are to name the rate of int.
Dated Jan. 1, 1936.
Due $25,000 from Jan. 1, 1946 to 1955. incl.
by John
FREDERICK, Colo.—BOND SALE—Brown, Schlessman, Owen & Co.
have purchased $21,000 4light and power plant revenue
Due serially for 10 years.
be held on Dec.
16 in order to vote
improvement bonds.
.
on
an election will
the issuance of $85,000 in various
„
DAWSON, Ga.—BOND ELECTION—It is reported that
an
election will
held on Oct. 23, in order to vote on the issuance of $23,500 in school
bonds, to be used as the city's share of a Public Works Administration
project to cost $54,000.
t
ne
of Denver
bonds.
PARK COUNTY (P. O. Fairplay), Colo.—BOND SALE—A group
composed of Boettcher & Co., the International Trust Co. and Gray B.
Gray, Inc., all of Denver, has purchased $41,000,2 ^ % courthouse bonds
paying a price of 100.425.
Denom. $1,000.
Dated March 1, 1936.
Due
in
one
to
ten
years.
PUEBLO COUNTY SCHOOL DISTRICT No.
1
(P. O. Pueblo)
Colo.—BOND CALL— It is reported that 4% refunding bonds, numbered
162, are being called for payment at the First National Bank
of Pueblo, on Nov. 1, on which date interest shall cease.
Dated Nov. 1,
1926. Due on Nov. 1, 1946, optional on Nov. 1, 1936.
from 23 to
PUEBLO
COUNTY
Colo.—BONDS
SCHOOL
OFFERED
that were sold on
Aug. 25
TO
DISTRICT
PUBLIC—1The
NO. 1 (P. O. Pueblo),
$140,000 refunding bonds
2%s and 3s, as reported in these columns at
that time—V. 143. p. 1594—are being offered for general investment by a
group composed of Boettcher & Co., the International Trust Co., Gray B.
Gray, Inc., all of Denver, and Hutchinson-Frye & Co. of Pueblo, at prices
to yield from 2.10%
to 2.70%, according to maturity.
Dated Nov. 1,
1936.
Due serially from 1941 to 1956.
*
as
STERLING, Colo.—BONDS CALLED—It is stated that F. E. Utlaret,
City Treasurer, has called for immediate payment the following bonds:
Nos. 247 to 253, of Central Paving District bonds, dated April 15, 1921.
Nos. 202 to 208, of Paving District No. 2 bonds, dated May 1, 1922.
Nos. 34 and 35, of Sub-District No. 3, of Curb and Storm Sewer District
No. 1.
•
'
F. '■
V
.
Colo.—BONDS OFFERED FOR INVESTMENT—Boet¬
tcher & Co. of Denver are offering to investors a block of $988,000 4%
refunding water bonds, dated Nov. 1, 1935 and payable serially on Nov. 1
from 1936 to 1970.
Denom. $1,000.
Principal and semi-anntial interest
(May 1 and Nov. 1) payable at the City Treasurer's office, or at the Inter¬
national Trust Co., Denver.
Legality is approved by Myles P. Tallmadge,
of Denver.
Bonds are payable from unlimited ad valorem taxes on all
property in the city, and in addition constitute a lien upon the net revenues
of the Water Department.
TRINIDAD,
IDAHO
DUBUQUE, Idaho—BOND SALE—The city has sold $50,000 special
assessment
improvement bonds to the White-Phillips Co. of Davenport.
IDAHO FALLS, Idaho—BOND SALE—The $35,000 4% instalment
improvement bonds of Local Improvement District No. 17, which were
offered on Oct. 6—V. 143, p.-2088—were awarded to Sudler, Wegener &
Co., Inc., of Boise, the only bidder, at par. Due in 10 equal annual instal¬
ments.
McCALL, Idaho—BOND OFFERING—Sealed bids will be received until
16, by W. E. Jordan, Village Clerk," for the purchase of a
$17,400 issue of sewer system bonds.
Interest rate is not to exceed 6%,
payable M. & N.
Denom. $1,000, one for $400.
Dated Nov. 1, 1936.
Due on Nov. 1 as follows: $400 in 1938. and $1,000. 1939 to 1955 incl.
Prin. and int. payable at the office of the Village Treasurer, at the State
Treasurer's office, or at some bank or trust company in New York to be
designated by the Village.
A certified check for 5% of the amount bid,
payable to the Village, is required.
8 p. m. on Oct.
H
ILLINOIS
CAIRO BRIDGE COMMISSION
(P. O. Cairo), 111.—BOND SALE—
A syndicate composed of B. J. Van Ingen & Co., Inc., New York; Stifel,
Nicolaus & Co., St. Louis; John Nuveen & Co., Chicago; Stein Bros. &
Boyce, Baltimore; Almstedt Bros., Louisville; Bankers Trust Co. of Louis¬
ville and the Security Trust Co. of Lexington (Ky.), recently purchased
privately a new issue of $1,800,000 4% coupon, registerable as to principal
only, bridge revenue bonds.
Dated April 1, 1936.
Denom. $1,000.
Due
Oct. 1, 1962.
Callable at the option of the bridge commission on any
interest date after April 1, 1938, on 30 days' published notice, at various
prices, as follows:
If called on or before Oet. 1, 1942 the bonds will be
redeemed at 105; thereafter at 104 up to and including Oct. 1, 1946; there¬
after at 103 until Oct. 1, 1950; thereafter at 102 until Oct. 1, 1954; at 101
up to Oct. 1, 1958, and at par from then on to final maturity.
Interest
payable A. & O.
Payable at the Chemical Bank & Trust Co., New York
City.
The Federal & Columbia Trust Co. of Columbia is trustee for the
district.
The bonds, it is said, are exempt from Federal, State and local
taxation except
gift, estate and inheritance taxes, under provision of
an
Act of Congress and are payable from tolls to be collected for use of the
FLORIDA
BONDS
PIERCE-BIESE CORPORATION
JACKSONVILLE
Miami
Orlando
Tampa
bridge over the Ohio River from Cairo, Illinois, to Wickliffe, Ky. The Act
of Congress creating the Bridge Commission was approved April 13, 1934
ahd the proceeds of the present bond sale, together with a grant of $654,000
from the Public Works Administration, will be sufficient to cover the
entire cost of constructing the bridge.
The bonds will be issued subject to the approval of legality by
& Mitchell of Nwe York
Masslich
City.
—CHARLESTON, III.—BONDS AUTHORIZED—The City Council has
passed an ordinance authorizing the issuance of $100,000 water plant and
sewer improvement bonds.
CHICAGO, 111.—WARRANT CALL—J. B. McCahey, President of the
Board of Education, gives notice that funds are available for payment of
the following outstanding warrants:
1935 educational fund warrants,
dated March 7, 1935, numbered E-1234 to E-1736; 1935 building fund
Florida
Municipals
warrants, dated Feb. 8, 1935, numbered B-5 to B-17;
and 1935 playground
fund warrants, dated Feb. 8, 1935, numbered P-6 and P-7.
CHICAGO, 111.—PLANS SALE OF WARRANTS FOR RELIEF PUR¬
LEEDY. WHEELER & CO.
Jacksonville, Fla.
Bell
Orlando
System
10
Teletype
iE!4?n.iA'imjL'imil
FLORIDA
DAYTONA
BEACH, Fla.—BOND PAYMENT TO BE MADE—We
Refunding Association of Daytona
Beach, in accordance with the refunding plan of July 15, 1936,has arranged
1934, and during
are
informed
that
the
Bondholders'
for the payment of interest from May 1,1933, to Dec. 31,
the first half of 1936 at the reduced rate of 3% annually.
The following is the text of the news report on the above refinancing plan:
"Trustees of the Bondholders' Refunding Association have made arrange¬
POSES—OBJECTIONS TO RELIEF TAX REMOVED—As
soon as figures
prepared by L. M. Lyons, Relief Commissioner, are available shortly, R. B.
Upham, City Comptroller, will negotiate with local bankers for the sale of
City of Chicago 1936 tax anticipation warrants to obtain funds necessary
for relief purposes.
Although 1935 valuations would indicate that a^total of
$4,650,000 of the warrants, or 75%, might be sold against the proposed
$6,200,000 relief tax levy, it is doubtful if ready sale would be found for
any such high proportion.
It has been indicated that $649,500 "would be
required to meet relief needs during October.
Signing by Governor Horner of the new legislation disposing of technical
objections propounded
by Henry E.. Cutler,
of- Chapman & Cutler,
municipal bond attorneys, left as the only major obstacle the passing of
ordinances allocating the tax on parts of governmental subdivisions partly
Within and partly outside Cook County.
Those were acted on by the
county board recently.
-■
Orders already have been placed by Comptroller Upham for the engraved
warrant certificates, but no definite consideration can be given the matter
by the banks until it is known whether the full 3 mills levy will be imposed,
a representative said.
ments with
Daytona Beach, Fla., for the payment in cash, of delinquent
maturing during 1933 and 1934, and interest accrued on past due
to those who have
accepted the refunding program.
Funds are also available to provide for
the payment of the first coupon maturing in 1936 at 3%, the Association
says.
From the combined distribution of $75 per $1,000 bond, a deduction
of $10 will be made to cover the pro rata share of the total refunding cost
chargeable to each bond."
coupons
U
'•
bonds during that period at the reduced rate of 3%
DE LAND, Fla.—BOND ELECTION—The City* Commissioners are said
called an election for Nov. 17 in order to have the voters pass on the
proposed issuance of $398,000 in electric light plant bonds.
to have
LEESBURG, Fla.—BONDS VOTED—At,
an
election held on Sept. 28
the voters are said to have approved the issuance of $50,000 in bonds for
a Public Works Administration sewer construction project by a count of
19.
The Federal agency will advance
proposal, it is stated.
354 to
grant of $45,000 on the
a
„
ST. PETERSBURG, Fla.—NE W BOND REFUNDING AGREEMENT
ANNOUNCED—Superseding an agreement made in 1933, the bondholders'
committee for the obligations of the above city has announced a new
FLOSSMOOR,
111.—BOND SALE—The $24,000 4%
plant bonds offered
on
Oct. 5—V.
143,
p.
sewage
dispose
2244—were awarded to John
$1,000
Nuveen & Co. of Chicago.
Dated Oct. 1, 1936 and due as follows:
from 1939 to 1948, incl. and $2,000 froni 1949 to 1955, inclusive.
JOLIET, 111.—BOND OFFERING— Sealed bids addressed to Arthur
R. Blackburn, City Clerk, will be received until noon on Oct. 13 for the
purchase of $90,000 water revenue bonds.
JOLIET
PARK
DISTRICT,
111.—BOND
CALI^-Glenn
G.
Paul,
District Secretary, announces that $53,000 outstanding bonds of the District
will be called for retirement, as of Nov. 1.
The bonds are described as
follows: $5,000 refunding bonds, numbered 26 to 30, dated Nov. 1,1933 and
payable Nov. 1, 1949; $10,000 5% refunding bonds, numbered 1 to 10,
dated Nov. 1,1933 and payable Nov. 1,1950; $8,000
% refunding bonds,
numbered 1 to 8, dated Nov. 1, 1933 and payable Nov. 1, 1950; $15,000
4\i% refunding bonds, numbered 1 to 15, dated May 1, 1934 and payable
May 1, 1951; and $15,000 4H% refunding bonds, numbered 16 to 30,
dated May 1, 1934 and payable May 1, 195 J.
Bonds will be paid upon
presentation to William F. Meyer, District Treasurer, at the First National
Bank
of Joliet in
Joliet.
,
Financial
2406
Chronicle
Oct.
10, 1936
Secretary
DYSART, Iowa—BOND SALE—The $12,000 issue of coupon community
Glenn G. Paul announces that on Nov. 1 $5,000 outstanding 4M % refund¬
building bonds offered for sale on Oct. 6—V. 143, p. 2244—was awarded
Dysart National Bank of Dysart as 2Ms, plus a premium of $160,
equal to 101.33, a basis of about 2.60%.
Denom. $500. Dated Nov. 1,
1936.
Due from Nov. 1, 1937 to 1956 incl.
Interest payable M. & N.
The second highest bid was an offer of $155 premium on 2Ms, tendered by
the Carleton D. Beh Co. of Des Moines.
*
JOLIET
PARK
III.—BOND CALL—District
DISTRICT,
to the
ing bonds, dated Nov. 1, 1933 and payable Nov. 1, 1949, will be called for
redemption.
Payment will be made by the District Treasurer at the First
National Bank in Joliet.
—
MAYWOOD, 111.—BOND ELECTION—The village will hold an election
Nov. 20 for the purpose of voting on a proposal to issue $177,000 water
softening plant bonds.
r
►
on
OLNEY, 111.—BONDS AUTHORIZED—On Sept. 22 the City Council
adopted an ordinance authorizing the issuance of $175,000 waterworks
and sewerage revenue bonds, contract for the sale of which has been made
with N. L. Rogers & Co. of Peoria, as already reported in these columns—
V. 143, p. 1269.
The bonds will bear interest at 4M%, payable semi¬
annually on Feb. 1 and Aug. 1.
Denom. $1,000.
Dated Aug. 1, 1936.
Due on Feb. 1 as follows:
$6,000 1937,1938 and 1939: $7,000 1940 to 1943;
$8,000 1944, 1945 and 1946; $9,000 1947, 1948 and 1949; $10,000 1950 to
1954; $13,000 1955; and $15,000 1956.
PARk,
|*
111.—BOND SALE DETAILS—The $20,000 3% fire depart¬
the Edgar National Bank and the Citizens
both of Edgar, jointly—V. 143, p. 2244—bear date of
May 15, 1936 and mature serially on Nov. 15 from 1937 to 1942, incl.
Coupon bonds in denoms. of $1,000.
Interest payable M. & N. 15.
ment
bonds sold recently to
National
Bank,
SUMPTER TOWNSHIP
(P. O. Toledo), 111.—BOND SALE—The
Township has sold an issue of $25,000 4% coupon gravel road construction
bonds to Vieth, Duncan, Worley & Wood, of Davenport, at par.
Denom.
$1,000.
Dated Sept. 15, 1936.
Interest payable June and Dec.
Due
$2,000 yearly for first five years, and $3,000 yearly for the next five years.
BRANCH
tOWNSHIP (P. O. Cisco), III.—BONDS
VOTED—The voters of the township have given their approval, 168 to 145,
WILLOW
to
proposal to issue $80,000 road improvement bonds.
a
SCHOOL
TOWNSHIP,
Vanderburgh
County,
Ind.—
BOND OFFERING—The Township Trustee will receive bids until Oct. 23
of $16,000 school building improvement bonds.
for the purchase
(P. O. Michigan RR. No. 3),
Ind.—BOND SLAE—The $451000 4% school building bonds offered on
Sept. 28—V. 143, p. 1912—were awarded to the Citizens Bank of Michigan
City at a premium of $2,650, plus printing costs and attorney's fees. Dated
Dated Sept. 25, 1936.
Due July 1 as follows:
$3,000, 1938 to 1949;
$4,000, 1950; and $5,000. 1951.
(State of)— MAXIMUM TAX RATE RETAINED—The
for 1937 has been left unchanged at 15 cents, the legal
INDIANA
rate
maximum, according to a recent announcement of the Board of the Depart¬
of the Treasury.
m.
on
Grossart,
(P. O. Indianapolis) Ind.—BOND OFFERING
County Auditor, will receive sealed bids until 10
for the purchase of $175,000 not to exceed 4%
Oct. 23
county welfare bonds,
first issue of 1936.
Dated Oct. 30, 1936.
interest
Denom..
$1,000. unless otherwise requested by the successful bidder, provided, how¬
ever, that such other denom. sought shall not change the amount of the
serial maturities.
Due as follows: $8,000, June 30 and Dec. 31 in 1938
1939; $8,000, June 30 and $9,000, Dec. 31, 1940; $9,000, June 30
1941 to 1947, incl. Bidder to name one rate of interest
on all of the bonds, expressed in a multiple of M of 1%.
Interest payable
June 30 and Dec. 31.
A certified check for 3% of the bonds bid for, pay¬
able to the order of the Board of County Commissioners, must accompany
each proposal.
The county will furnish the successful bidder with the
approving legal opinion of Matson, Ross, MeCord & Clifford, and of
Smith, Remster, Horn brook & Smith, both of Indianapolis. No condition
bids will be considered and the bonds will be ready for delivery to the
and
and Dec. 31 from
purchaser in about 10 days following the award. They are direct obligations
of the county, payable from unlimited ad valorem taxes.
CITY, Ind.—BOND OFFERING—George Gruse, City
Controller, will receive bids until 10 a.m. Oct. 31 for £he purchase at not
less than par of $15,000 4M% stadium and playground bonds.
Denom.
$1,000. Dated Aug. 15, 1936.
Interest payable annuallyjon Aug. 15. Due
$1,000 yearly on Aug. 15 from 1937 to 1951.
MICHIGAN
O. Valparaiso), Ind.—BOND SALE—The
$74,000 courthouse reconstruction bonds offered on Oct. 5—V. 143, p.
1912—were awarded to the Harris Trust & Savings Bank of Chicago as
*as 2s,
at a premium of $43, equal to 100.057, a basis of about 1.99%.
Gated July 1, 1936.
Due as follows: $3,000 July 1, 1937; $4,000, Jan. 1
and $3,000, July 1 from 1938 to 1946, incl.; and $4,000, Jan. 1 and July 1,
PORTER
COUNTY
(P.
SHAWSWICK
SCHOOL TOWNSHIP
(P. O. Bedford), Ind.—
OFFERING—Norris C. Ray, Township Trustee, will receive bids
a. m. Oct. 22, for the purchase at not less than par of $16,700 4%
school bonds.
Denom. $500, except two for $100.
Dated Oct. 22, 1936.
Interest payable semi-annually.
Due each six months from July 1, 1937
to July 1, 1942.
Certified check for 3%, required.
BOND
until 10
HAUTE, Ind.—LOWER TAX RATE EXPECTED—'The tax
is expected to
be $3.8245 for eacn $100 of assessed
valuation, a decline of 43.55c from the current rate of $4.25, according to
Burcb Ijams, President of the Vigo County board ,of tax adjustment.
TERRE
for
1937
SCHOOL TOWNSHIP (P. O. Chesterfield), Ind.—BOND
OFFERING—Horace Bronnenberg, Township Trustee, will receive bids
until 1 p. m. Oct. 21, for the purchase at not less than par of $15,000 school
building bonds.
Bidders are to name rate of interest, in a multiple of
yx %, but not to exceed 5%. Denom. $500.
Dated Oct. 1, 1936. Interest
UNION
Sayable Jan. and $1,000 1. Due 1951. each six months from July 1, 1937 to
1,1951; 1 and July July 1. $500
an.
approving
par
and
opinion
of
Chapman & Cutler, of Chicago, with the bonds and all bids must be so
A certified check for $2,400, payable to the school district,
must accompany the bid.
SCHOOL
INDEPENDENT
ELKADER
DISTRICT,
Iowa—BOND
SALE—The issue of $44,500 school building bonds offered on Ofct. 2 was
awarded to the Central State Bank & Trust Co. of Elkader; the Union
Co., Strawberry Point, and the Carleton D. Beh Co., Des
Moines, as 2Ms, at a premium of $536, equal to 101.204.
Denominationsv
$1,000 and $500.
Dated Nov. 1, 1936.
Interest May 1 and Nov. 1.
Due serially for 20 years; optional after 10 years.
Bank & Trust
HUMBOLDT
COUNTY
O.
(P.
Dakota
City),
la .—CERTIFICATE
SALE—The issue of $23,000 secondary road construction fund anticipation
certificates offered on October 3—V. 1943, p. 2244—was awarded to the
Beh Co. of Des Moines, paying a premium of $60, equal to
100.26, for lMs.
Due on or before Dec. 3i, 1938.
The Humboldt Trust
Bank bid a $50 premium on a 1M % interest basis.
Carleton D.
Iowa—BONDS VOTED—At an election held on Sept. 30, th«
said to have approved the issuance of $23,500 in 5% bonds,
are
divided
follows: $14,000 school, and $9,500 street improvement bonds.
as
It is reported that these
bonds will be offered for sale very shortly.
Iowa—BOND OFFERING—L. M.
LETTS,
fund
ment
Town Clerk,
Hildebrand,
12 for the purchase of $1,500 improve¬
The town will furnish the bonds and the attorney's
bonds.
opinion.
COUNTY
(P.
O.
Cedar
Rapids),
Iowa—CERTIFICATE
OFFERING—On Oct. 15 at 10 a. m. the county will offer for sale an issue
of $25,000 secondary
road fund anticipation certificates.
MARSHALLTOWN, Iowa—BOND CALD-It is reported that tbe
City Council has called for payment on Nov. 1, a total of $28,000 4H%
Dated May 1, 1928.
Due from Nov. 1, 1937 to 1944.
water works bonds.
MELBOURNE CONSOLIDATED
OFFERING—L.
J.
Wallace,
SCHOOL DISTRICT, la.—BOND
of the Board of Education, will
Secretary
of $8,000 coupon audi¬
Denom. $500. Dated Nov. 1, 1936. Principal
(May 1 and Nov. 1) payable at the Melbourne
Savings Bank. Melbourne.
Due $1,000 yearly on Npv. 1 from 1938 to
1945.
Cost of printing of bonds and legal expenses are to be borne by the
receive bids until 8 p. m. Oct. 19 for the purchase
torium-gymnasium bonds.
purchaser.
MISSOURI
VALLEY, Iowa—BOND SALE—The $5,000 issue of 4%
department bonds offered for sale on Oct. 6—V. 143, p. 2244
awarded to the Peoples State Bank of Missouri Valley, at a price of
seini-ann. fire
—was
106.61,
Dated Sept. 1, 1936.
basis of about 3.09%.
a
Due
July 1 from 1938 to 1949.
.
on
.
Jan. and
■*>
-v r;
INDEPENDENT
SCHOOL
DISTRICT, Iowa—BOND
Wirkler, Secretary of the Board of Directors, will
m. Oct. 13, for the purchase of $18,000 refunding
bonds.
Due serially from 1947 to 1950; bonds maturing in 1949 and 1950
to be subject to redemption on and after May 1, 1939.
Printed bonds and
legal opinion of Chapman & Cutler of Chicago will be furnished by the
MONONA
OFFERING—Edward
receive bids until 8 p.
district.
PALO
ALTO COUNTY (P.
O.
Emmetsburg), Iowa—BOND ELEC¬
TION—It is now reported that the $500,000 primary road bonds mentioned
in these columns last
July will be submitted to the voters at the general
election in November.
SUMNER TOWNSHIP INDEPENDENT SCHOOL DISTRICT NO. 7
Iowa—BOND ObVERING—Harry Krause, Secretary of
received bids until 7:30 p. m. Oct. 9, for the purchase of
building bonds.
Dated Nov. 1,&1936.
Interest rate and
maturities are to be determined at time of sale.
Bonds and attorney's
opinion are to be furnished by the district.
(P. O. Sumner),
Board of Directors,
$3,000 school
„
CONSOLIDATED SCHOOL DISTRICT (P. O.
Iowa—BOND SALE—The $10,000 issue of school building
143, p. 2089—was awarded to the
Carleton D. Beh Co. of Des Moines, as 2Kb, paying a premium of $42,
equal to 100.42, according to report.
NEW
LONDON
New London),
DES
A.
T.
&
Sioux
Davenport
WEBSTER
SALE—The
COUNTY
T.
Teletype: DESM
m.
DES MOINES, Iowa—BOND ELECTION—At the general election
the voters will pass on the proposed issuance of $200,000
November
airport improvement bonds, it is said.
John MacVicar, Street Commissioner,
is
of about
1.05%.
The Polk-Peterson Corp. of Des Moines offered
for lMs.
Dated Oct. 1, 1930,
Due Oct. 1, 1937.
MOINES
WOODBURY COUNTY
The
(P. O. Sioux City), Iowa—BOND SALE—
$130,000 funding bonds offered on Oct. 5—V. 143, p. 2245—were
awarded to the Toy
National Bank of Sioux City as 2Ms, at a premium of
$2,276, equal to 101.75, a basis of about 2.34%.
The Iowa-Des Moines
National Bank & Trust Co. of Des Moines offered a premium of $2,275 for
2Ms.
Dated Sept. 1, 1936.
Due on Dec. 1 as follows: $30,000,1946; and
$25,000 from 1947 to 1950, incl.
COUNTY
(P.
O.
of about
2.08%.
ISSUANCE
CONTEMPLATED—It
Burlington),
bonds in
an
amount
of approximately $55,000.
He says that no election
Will be necessary.
IOLA, Kan.—BOND ELECTION—It is reported that
be held
on
Oct. 22 in order to vote
on
an
election will
the issuance of $50,000 in park bonds.
KANSAS CITY SCHOOL DISTRICT (P. O. Kansas City), Kan.—
BOND SALE—The $500,000 issue of 2M% semi-annual school building
bonds offered for sale on Oct. 5—V. 143, p. 2089—was awarded to a syndi¬
merce
in bonds to obtain
city's outfall sewer
by the County Treasurer that the $75,000
purchased by the White-Phillips Corp. of
Kan.—BOND
cate
.
COUNTY
a pre¬
mium of $40
in
Iowa—MATXJRITY
funding bonds
Davenport, as 2Ms, at a price of
101.286, as noted here recently—V." 143, p. 2088—are due as follows:
$10,000,
1939:
$9,500,
1940;
$9,000,
1941; $5,000, 1942 to
1945;
$5,500, 1946; $10,000, 1947; $8,000, 1948 and $3,000 in 1949, giving a
DES
on
Moines, at 1M % interest, plus a premium of $45, equal to 100.075, a basis
in
reported to have indicated
recently that he would seek the issuance of $400,000
$5,000,000 in Federal aid for the completion of the
■.—It is now stated
Iowa—CERTIFICATE
is stated by Willard Welsh, City Clerk, that an ordinance will be passed in
the near future providing for the issuance of the proposed sewer system
cution.
"
Dodge),
anticipation certificates offered
on Sept. 30—V. 143, p. 2089—were awarded to the First National
of Harper at a price of par.
Dated Aug. 1, 1936.
Due $1,000
yearly, beginning Aug. 1, 1937.
31
Dated Sept. 15, 1936.
system.
Iowa—WARRANT
before Dec. 31, 1937.
Bank
OFFERING—L. J. Storey, City Clerk,
Oct. 12 for the purchase of $6,800 grading
Due on March 15 as follows: $5,000, 1938;.
$1,000, 1939, and $800, 1940; subject to redemption on and after March
15, 1938.
Approving opinion of Chapmanv& Cutler of Chicago will be
furnished by the city; purchaser must agree to furnish the bonds for exe.
a.
Fort
O.
$60,000 secondary road
on or
offered
CEDAR RAPIDS, Iowa—BOND
10
(P.
Due
Oct. 5—V. 143, p. 2089—were awarded to the Carleton D. Beh Co. of Des
HUTCHINSON,
bonds.
Keosauqua),
O.
HARPER, Kan.—BOND SALE—The $4,000 2% fire equipment bonds
City
Sioux Falls, S. D.
IOWA
will receive bids until
(P.
(P. O. Winfield), Kan.—BOND SALE— The
1,000 issue of 2% semi-annual poor relief bonds offered for sale on Oct. 5
—V. 143, p. 2245—-was awarded jointly to the Columbian Securities Corp.
of Topeka, and the Ranson-Davidson Co. of Wichita, paying a premium
of $825.00, equal to 101.37, according to the County Clerk.
Building
Iowa City
Cedar Rapids
COUNTY
Savings Bank of Cantril.
MOINES
Ottumwa
Waterloo
BUREN
to the Cantril
COWLEY
Polk-Peterson Corporation
Des Moines
VAN
SALE—A block of $10,000 anticipatory road fund warrants has been sold
KANSAS
Municipals
Iowa
basis
the
furnish
will
bonds offered for sale on Sept. 28—V.
1947.
rate
board
and semi-annual interest
COUNTY
MARION
—Charles A.
a.
The
conditioned.
LINN
COOLSPRING SCHOOL TOWNSHIP
ment
of not less than
Prin. and semi-annual int. payable at the office of the
Treasurer.
will receive bids until 7.30 p. m. Oct.
SCHOOL
CENTER
tax
District
LEON,
105.49.
State
The award will be made on the most favorable bid
accrued interest.
voters
CITY, Ind.—BOND SALE—The $5,000 re¬
Oct. 7—V 143, p. 2088—were awarded to Mc-
funding bonds offered on
Nurlen & Huncilman of Indianapolis as 4s, for a premium of $274.50, equal
to
i
& Savings
INDIANA
BICKNELL
EAST WATERLOO INDEPENDENT SCHOOL DISTRICT (P. O.
Waterloo), Iowa—BOND OFFERING—Sealed bids Will be received until
p. m. on Oct. 12, by Chas N. Hostetler, Secretary of the Board of
Directors, for the purchase of an $80,000 issue of school refunding bonds.
Denom. $1,000.
Dated Jan. 2, 1937.
After the sealed bids are filed,
open bids will be called for.
Due.$8,000 from Jan. 2, 1938 to 1947 incl.
7.30
composed of the Harris Trust & Savings Bank of Chicago, the Com¬
Trust Co. of Kansas City, and Estes, Payne & Co. of Topeka, at a
price of 102.887, a basis of about 2.21%.
Dated Oct. 1,1936.
Due$25,000
from Oct. 1, 1937 to 1956 incl.
LEAVENWORTH,
Kan.—BOND
SALE—An issue of $30,000 fire
sold to the Dunn-Israel Co.
apparatus and swimming pool bonds has been
of Wichita at par. Due in 10 years.
MEADE, Kan.—BOND SALE DETAILS—In connection with the sale
of the $70,000 4M% refunding bonds to Beecroft, Cole & Co. of Topeka,
as noted in these columns recently—V.
143, p. 2089—it is stated by the
City Clerk that Estes, Payne & Co. of Topeka, were
above named in the purchase of the bonds at par.
April 1, 1941 to 1950, optional on April 1, 1942.
associated with the
Due $7,000 from
Volume
r
on
Financial
143
SALINA, Kan.—BOND SALE—The $46,000 bonds offered by the city
Oct. 5—V.143, p. 2245—were disposed of as follows: $33,000 refunding
bonds to the Dunne-Israel Investment Co. of Wichita, at a price of 102.11:
and $13,000 North Santa Fe Ave. paving bonds to Estes, Payne & Co. of
Topeka at
a
price of 101.
SCOTTSVILLE
SCHOOL DISTRICT Nd. 41 (P. O. Scottsville)
(Kan.—MATURITY—We are now informed by L. L. Shamburg, District
Clerk, that the $7,000 2M% coupon school building bonds purchased on
Sept. 30 by the First National Bank of Beloit, Kan., at a price of 10!.07,
218
.her,e recently—V. 143,
to
1946, mcl., giving
a
p. 2245—are due $700 from Aug. 1, 1937
basis of about 2.30%. Interest payable F. & A.
WINFIELD, Kan.—BOND
OFFERING—Lida
E.
Taylor, City Clerk,
will receive bids until 7.30 p. m. Oct. 20 for the purchase of $19,193.70
special improvement bonds, to bear interest at 2 %, 2 M % or 2 M %. Denom.
$1,000, except one for $1,193.70.
Dated Nov. 1, 1936.
Due $1,193.70
Nov. 1, 1937; and $2,000 yearly on Nov. 1 from 1938 to 1946.
^YA££PJ,TE GOUNTY
a
2407
Chronicle
ANCE RULED
°- Kansas City), Kan.—BOND ISSU¬
VALID—Wyandotte Couhty under Chapter 190 of the
laws of 1935, can issue $43,000 of poor relief bonds for
of those on county relief rolls to
session
employment
help construct the warehouse and docks
three-quarters of a million dollar loan and grants recently was
by the Public Works Administration, it is stated.
for which
allowed
KENTUCKY
CENTRAL
Ant
CITY,
,
Ky.—BOND SALE—It-is reported that $21,000
4% semi-ann. funding bonds
of Louisville.
purchased by J. J. B. Hilliard & Son
were
water revenue
of Louisville.
cinnati,
4M% semibonds have been purchased by the Bankers Bond Co.
4s, at
a
Ky.—MATURITY—The $40,000 sewer improvement
were sold on May 20 to W. P. Clancey & Co. of Cin¬
price of 100.775, as noted in these columns at that time—
y* 142, p. 3896—are dated July 1, 1936, and
mature on July 1 as follows:
$1,000, 1937 to 1942; $2,000. 1943 to 1950, and $3,000,1951 to 1956, givipg
a basis of about
3.92%.
The said bonds were offered for public investment by the above-named
firm, and the Bankers Bond Co., Inc. of Louisville, priced to yield from
2.00 to 3.40%, according to maturity.
Prin. and int. J. & J. payable at
the State Bank & Trust Co., Richmond, Ky.
Legality approved by Chap¬
man & Cutler of Chicago.
STURGIS, Ky—BOND SALE—A $15,000 issue of 5% semi-ann. fund¬
ing bonds is
Louisville.
said
to
have..been purchased
by the Bankers Bond
Co. of
Due from 1938 to 1952.
(P. O. Elkton) Ky—BOND SALE—It is reported \
that $17,000 4% road and
bridge bonds have been purchased by the
Bankers Bond Co. of Louisville. Due from 1938 to 1945.
L.
of Sherman
proposal.
County Treasurer, must accompany
of the offering supersedes that given in a
Tribbett,
(This report
'■:
MARYLAND (State of)—GAS TAX RECEIPTS AT RECORD HIGH—
Receipts of $9,300,150.39 from the Maryland 4-cent per-gallon gasoline
during the fiscal year—Oct. 1, 1935, to Sept. 30, 1936—set a new high
mark for revenue collected during a fiscal year.
The return was $444,069.97 higher than the $8,856,080.42 received during
the fiscal year Oct. 1, 1934-Sept. 30,1935. The 4-cent tax became effective
in Maryland on April 1, 1927.
tax
Comparative Collectionc
•
"
Immediate Firm Bids
SclinrfP
$747,999.28
1,055,146.50
618,028.07
October..
December
January
February
$759,858.21
' 807,411.48
806,225.99
749,027.45
465,347.96
511,503.50
623,846.60
674,784.14
568,508.69
526,486.83
806,637.68
—
March..
...^
_
April
May
630,224.73
June
847,810.79
950,721.34
595,276.11
861,402.97
1,061,173.73
870,833.22
922,717.38
982,118.83
July
August
September
—
-....$8,856,080.42
_Totals____n__.__c_____„__
In
on
Jones
1928rthe"firsVfuircalendar
year
,
MASSACHUSETTS
Faxon, Gade & Co
DISTRICT
NO.
1
on Oct. 5—V. 143, p. 1269—was awarded jointly to Scharff
Jones, Inc., and the Whitney National Bank, both of New Orleans, as
Dated Nov. 1,
3 Ms, paying a price of 100.304) a basis of about 3.723%.
1936.
Due from Nov. 1, 1939 to 1956, inclusive.
bonds offered without
success
on
$40,000
paving
and
water
Sept. 28, as noted here—V. 143,
p. 2245—are said to have been purchased at private sale on Oct. 6 by the
First State Bank & Trust Co. of Bogalusa, as 3Ms.
Dated Sept. 1, 1936.
Due serially to 1944.
^CALDWELL PARISH (P. O. Columbia), La.—BOND SALE—The
and jail construction bonds offered for sale
Sept. 21, was purchased by the Whitney National Bank of New Orleans,
4Ms, paying a premium of $815, equal to 101.164, it is stated by Chrissie
Davis, Secretary-Treasurer of the Police Jury.
Denom. $500.
Coupon
bonds, dated Oct. 1, 1936.
Due from Oct. 1, 1938 to 1958.
Interest
payable F. & O.
on
as
CAMERON PARISH
connection
house and
(P. O. Cameron), La.—LEGAL OPINION—In
Oct. 12, of the $66,000 court
jail bonds, described in detail in these columns recently—V. 143,
with
the offering scheduled for
S. 1913—we are now& Hoffman of N. Y. City. be approved as to legality
y Thomson, Wood informed that the bonds will
DE
RIDDER, La.—INTEREST RATE—In cohnection'with the
the $7,000
.
1, 1936
sale of
debt
Sinking funds—:
Population, 43,981.
excise)..$42,060,573.00
1,492,108.36
328,500.00
"■
6,000.00
None
LE XINGTON, Mass.—NOTE OFFERING—Sealed bids will be received
by the Town Treasurer until 7:30 p. m. on Oct. 13, for the purchase at
anticipation notes, dated Oct. 14, 1936 and due
April 30, 1937.
discount of $100,000 tax
Mass.—BOND SALE— The $50,000 coupon municipal relief
on Oct. 8 were awarded to Tyler, Buttrick & Co. of Boston
basis of about .98%. The Merchants National
Bank of Boston, second high bidder, offered 100.01 for Is.
Dated Oct. 1,*
1936. Due $10,000 yearly on Oct. 1 from 1937 to 1941 incl.
SALEM,
bonds offered
a
bid of 100.077 for Is, a
The following other
Bidder—
bids, all for 1M% bonds, were received:
Second
100.719
100.71
National Bank of Boston
100.67
100.61
2
L. S. Carter & Co
First Boston Corp
100.58
Naumkeag Trust Co.
Washburn & Co
100.579
100.575-
Whiting, Weeks & Knowles
100.51
Estabrook & Co
„
D ick & Merle-Smith
_
... ______
C. F. Childs & Co
...
«
-
Jackson & Curtis
First National Bank of Boston
were
sold
as
6s.
Due serially from 1937
JACKSON PARISH (P. O. Jonesboro), La.—BOND OFFERING—
Sealed bids will be received until 10 a. m. on Oct. 31, by A. H. May,
Stone & Webster and
- - -—— -
... -
_ _ _
i
by the City Clerk that the bonds
1943, incl.
to
Rate Bid
.
Newton, Abbe & Co
bonds to the First National Bank & Trust Co. of De Ridder,
at par, as noted in these columns recently—V. 143, p. 2245—we are informed
sewer
100.158
100.75
100.875
2M%
Water debt, included in total
Electric light plant bonds
on
$70,000 issue of courthouse
100.768
100.442
1M%
2%
——
——
Assessed valuation for year 1935 (incl. motor vehicle
Total bonded debt (above issue not included).,,
SCHOOL
(p* O. Crowley), La.—BOND SALE—The $384,500 issue of school bonds
works
1M%
1M%
•
1
Jackson & Curtis
offered lor sale
La.—BOND SALE—The
u&haJ
.
C. F. Childs & Co
LOUISIANA
POGALUSA,
W*
^
^
1924 brought • in
2-cents-per-gallon tax which became effective in
$1,588,421.89 the first year it was in operation.
Financial Statement, Oc
CONSOLIDATED
$9,300,150.39
*
the 4-cent tax was in effect, the State
collected $5,607,565.88.
Whiting, "Weeks & Knowles
TELEPHONE RAYMOND 1189
New Orleans
&
v
713,139.33
Burr & Co., Inc
PARISH
1935-36
1934-35
Mass.—BOND SALE—The issue of $75,000 coupon
municipal relief bonds offered on Oct. 8 was awarded to Newton, Abbe &
Co. of Boston as lMs, at a price of 101.037, a basis of about 1.53%. Dated
Oct. 1, 1936 and due Oct. 1 as follows: $8,000 from 1937 to 1941 incl. and
$7,000 from 1942 to 1946 incl.
Other bids were as follows:
Int. Rate Rate Bid
BidderM
Tyler, Buttrick & Co
1M%
100.799
Lee Higginson Corp
1M %
100.78
First National Bank of Boston
1M %
100.779
INCORPORATED
T.T.TEL. N. O. 180
ACADIA
-
months for the two fiscal years follow:
CHICOPEE,
LOUISIANA MUNICIPALS
'A.
order
each
previous issue.)
A
COUNTY
v
the
bids
November
bonds that
as
(P. O. Denton), Md.—BOND OFFERING—
S.| Rutter, Clerk of tne Board of County Commissioners, will receive
until 2 p. m. (Eastern Standard Time) on Oct. 13, for the
purchase of $24,000 3M% refunding bonds.
Dated Oct. 1, 1936. Denom.
$1,000.
Due $2,000 on Oct. 1 from 1940 to 1951, incl.
Interest payable
A. & O.
The bonds are exempt from all State, county and municipal taxa¬
tion in Maryland.
A certified check for 2% of the bonds bid for, payable to
Walter
sealed
is said that $44,000
Due from 1938 to 1961.
RICHMOND,
revenue
MARYLAND
COUNTY
CAROLINE
The comparative collections by
GRAYSON, Ky.—BONDS SOLD—It
ann.
MAINE
LEWISTON, Me.—INCREASE IN TAX RATE—The'budget for 1937
ratejat 36 mills as against
placed at $26,894,530 and
has been adopted at $1,148,767.08, with the tax
34 this year. Assessed valuation of real estate is
of personalty at $4,207,250.
Blodgett, Inc
*
Faxon, Gade & Co
,
E. H. Rollins & Sons
R. L.Day & Co..
—
100.509
100.462
100.442
100.44
100.434
100.392
100.37
100.29
Secretary-Treasurer of the Police Jury, for the purchase of
$150,000
court house and
payableM.&N.
jail bonds.
Denom. $1,000.
an issue of
Interest rate is not to exceed 6%,
Dated Nov. 1, 1936.
Due from Nov. 1,
We Buy
1937 to. 1956, incl.
Aug. 18.
These bonds were authorized at an election held on
A certified check for $5,000, payable to S. D. McBride, President
of the Police
Jury, must accompany the bid.
(We had previously reported
in these columns that the above bonds would be sold on Oct. 2—V.
143,
p.
^
Our Own Account
MICHIGAN
MUNICIPALS
2245.)
ORLEANS PARISH (P. O. New Orleans), La.—BOND OFFERING—
Sealed bids will be received until 8 p. m. on Nov. 13, by A. J. Tete, Secre¬
tary of the Parish School Board, for the purchase of an issue of $1,500,000
./£_school» third series, coupon bonds. Denom. $1,000. Dated Dec. 1,
Dpe on Dec. 1 as follows: $25,000, 1937; $26,000, 1938; $28,000,
1927.
1939;
1944;
1949;
1954;
1959;
1964;
$29,000,
$34,000,
$42,000,
$51,000,
$62,000,
$76,000,
made
on
£ion*
1940;
1945;
1950;
1955;
1960;
1965;
the form
$30,000,
$36,000,
$44,000,
$53,000,
1941; $31,000, 1942; $32,000, 1943; $33,000,
1946; $37,000, 1947; $39,000, 1948; $40,000,
1951; $45,000. 1952; $47,000, 1953; $49,000,
1956; $56,000, 1957; $58,000, 1958; $60,000,
$65,000, 1961; $68,000, 1962; $70,000, 1963; $73,000,
$79,000, 1966, and $82,000 in 1967.
Bids must be
furnished by the Board, without alteration or qualifica-
,
York,
DETROIT
Telephone CHerry 6828
A. T. T. Tel. DRT347
$25,000 City of Detroit, Michigan
Street
Railway 3^s due 1941
Price to Yield 2.40%
or
PLAQUEMINE, La .—BONE
SALE—The $80,000 issue of
sewer bonds
offered tor sale
on Oct. 5—V.
143, p. 1596—was awarded jointly to Weil
Co., and Anagnosti and Walker, Inc., both of New Orleans, as 3Ms,
paying a premium of $280, equal to
Due from 1937 to 1961.
ST.
Cray, McFawn & Company
Prjn* and int«
& EL payable in lawful money at New Orleans,
Chicago, at the option of the holder.
The bonds may be
registered as to principal only.
The bonds will be pripted by the School
at lts own expense.
The approving opinion of Thomson, Wood &
H°tfmw or New York, will be furnished the purchaser.
A certified check
for $30,000,
payable to the Parish School Board, must accompany the bid.
New
&
for
MARTIN PARISH
100.35,
according to the Town Clerk.
>
(P. O. St. Martinville), La .—BOND
ELEC-
IION—rh
parish police jury has set Oct. 20 as the date for a parishwide
election on the authority of the
jury to set a sufficient millage, approxi¬
mately 2 M mills annually, to retire a proposed bond issue of $100,000, with
interest at 6% over a 20-year period.
This levy is to be
cost of remodeling and
renovating the Courthouse at
Paul Angelles Jr., President of the parish police jury, was
dedicated to the
St. Martinville.
named chairman
and R L. Thompson, Secretary, of a group which is to acquaint the general
public with the advantages of voting the millage.
McALISTER, SMITH & PATE, Inc.
67
NEW YORK
BROAD STREET
Telephone WHitehall 4-6765
GREENVILLE, S. C.
CHARLESTON, S. C.
MICHIGAN
OFFERING—John F. Null, City
Standard Time), Oct. 12 for
will not be made
in a multiple of
M%, not to exceed 4%.
Denominations to suit purchaser.
Dated
Dec. 1, 1936.
Principal and semi-annual interest payable at the City
Treasurer's
office.
Certified check
for
$1,000, required.
Purchaser
is to pay for printing of bonds and for legal opinion.
BENTON HARBOR, Mich.—BOND
Clerk, will receive bids until 1 p. m. (Eastern
the purchase of $30,000 general obligation bonds.
Sale
at less than par.
Bidders are to name rate of interest,
Financial
2408
BRECKENRIDGE, Mich.—BOND OFFERING—Richard Paulus, Vil¬
lage Clerk, will receive bids until 8p.m. Oct. 15 for the purchase of $31,000
334% water works bonds.
Dated Aug. 1,1936.
Interest payable annually
on Aug.
1.
Due on Aug. 1 as follows:
$1,000, 1938 to 1943; $1,500,
1944 to 1949, and $2,000, 1950 to 1957.
Certified check for $1,000
required.
The village will furnish the legal opinion.
EAST GRAND RAPIDS, Mich.—BOND OFFERING—Louis F. Battjes
City Clerk, will receive bids until 5 p. m. Oct. 12 for the purchase of the
following bonds:
$35,904.63 special assessment refunding bonds.
Due on Oct. 1 as follows:
$3,904.63, 1939; $4,000, 1940, 1941 and 1942, and $5,000,
1943 to 1946.
39,800.00 special assessment refunding bonds.
Due Nov. 1 as follows:
$4,800, 1939, and $5,000, 1940 to 1946.
7,000.00 general refunding bonds.
Due $1,000 yearly on Nov, 1 from
1939 to 1945.
Bidders
name
the voters
are
10,
1936
Sept. 29
on
stated to have defeated the proposed issuance of $45,000 in
ommunity building
bonpte, the count being 357 "for" to 380 "against."
MISSISSIPPI
ADAMS
COUNTY
(P. O. Natchez), Miss.—BOND SALE—We are
informed by Scharff & Jones, Inc., of New Orleans, that they purchased
on Oct. 5 an issue of $100,000 funding
bonds, paying a premium of $500,equal to 100.50, on the bonds divided as follows: $50,000 as 2Ms, maturing
from 1937 to 1946, incl,, the remaining $50,000 as 3s, maturing from 1947
to 1956.
The purchaser also agreed to the assumption of all legal expenses
and the printing of the bonds.
GREENVILLE,
now
in
rate
Oct.
TRACY, Minn.—BONDS DEFEATED—At the election held
of interest, in a multiple of
M%.
Interest
payable semi-annually.
Certified check for 1% of amount of bid, payable
to the City Treasurer, required.
to
are
Chronicle
Miss.—BOND
ELECTION
POSTPONED—We
are
$28,000
informed that the election to be held on tne proposed issuance of
park bonds
was
MISSISSIPPI,
postponed from Oct. 7 to Oct. 26.
(State of)—NOTE
SALE—The
$5,600,000
highway
notes offered on Oct.
8 were awarded to a syndicate including John Nuveen
Co., Chicago; the Equitable Securities Corp., Nashville; B. J. Van Ingen
& Co., New York; Saunders & Anderson, Memphis; Scharff & Jones, Inc.,
New Orleans; the Deposit Guaranty Bank & Trust Co., Jackson; C. W.
McNear & Co., Chicago; the J. S. Love Co., Jackson; the First National
Bank of Memphis; the Wells-Dickey Co., Minneapolis; Lewis & Thomas,
Jackson; Dane & Weil, Inc., New Orleans; Walter, Woody & Heimerdinger,
Cincinnati; Newman, Harris & Co., New Orleans; George T. Carter, Inc.,
Meridian; Edward Jones & Co., Inc., New Orleans; Cady & Co., Inc.,
Columbus, Miss.; Schlater, Noyes & Gardner, Inc., New York; J. G. Hick¬
man, Inc., Vicksburg; Wiggins & Walton, Jackson, and the First National
Bank & Trust Co., Vicksburg, for a premium of $2,526.50, equal to 100.045,
a net interest cost of about 3.12% on the notes as divided.
Notes maturing from 1938 to 1941 will bear interest at 3%, those running
from 1942 to 1955, plus $700,000 coming due in 1956, will carry a 3M%
coupon, $150,000 payable in 1956 and the maturities from 1957 to i960
will bear 3H%.
The notes are more fully described as follows:
&
ELSIE, Mich.—BOND SALE—The $25,000 water works bonds offered
Oct.] 5—V. 143,
on
2246—were awarded to Donovan, Gilbert & Co.
p.
of Lansing as 4s, at par plus a premium of $101.30, equal to 100.405, a
basis of about 3.95%.
Dated Oct. 1, 1936 and due Oct. 1 as follows:
$500 from 1939 to 1944 incl., and $1,000 from 1945 to 1966 incl.
Re¬
deemable in inverse order of maturity on any interest date on or after
Oct. 1, 1946.
FERNDALE SCHOOL DISTRICT, Mich—BOND TENDERS ASKED
Elizabeth Beasley, Secretary of the Board of Education, will re¬
until 8 p. m. Oct. 26 for the sale of 1935 refunding bonds,
series A, B, C and D, dated Oct. 1, 1935, and for certificates of indebted¬
ness dated Oct.
1, 1935.
The amount available for the purchase of re¬
funding bonds is $27,000 and for certificates $23,000.
(f
—Mrs.
ceive tenders
HAMTRAMCK, Mich.—BOND OFFERING—Frank Matulewicz, City
Clerk, will receive bids until 4 p.m. Oct. 13 for the purchase at not less
hospital bonds.
Bidders are to name rate
Interest payable semi-annually.
Due in
ipproxixnately equal annual instalments in from 1 to 30 years."
Certified
of
jheck for $1,000, payable to the City Treasurer, required.
Cost of legal
opinion is to be borne by the purchaser.
than par of $85,000 public city
of interest, not to exceed 4%.
.
MICHIGAN (State of)—BOND REDEMPTION NOTICE—Murray D.
Van Wagoner, State Highway Commissioner, announces that funds have
been deposited with the Detroit Trust Co., Detroit, to pay all outstanding
Road Assessment Districts Nos. 471, 473, 473-A, 474, 475, 481 and 492,
Wayne County Portion, due May 1, 1936.
Funds^are also available for
Sayment1935.
of Wayne County"...Portion bonds of Districts Nos. 471 and 481,
lay 1,
RIVER ROUGE CITY SCHOOL
DISTRICT, Mich.—BOND CALL—
Albert R. Heuer, District Treasurer, announces that the following numbered
5% refunding of 1935 bonds, dated Nov. ly 1935 and due Nov. 1, 1965,
will be redeemed at par and accrued interest on Nov. 2, 1936, upon pre¬
sentation at the Manufacturers National Bank of Detroit, successor paying
agent for the bonds: Numbers 204, 210 to 212, 214 to 218, 221, 225 to 227,
229 to 230, 234 to 235, 239 to 243, 245, 246, 248, 251, 253 to 261, 264, 267,
269, 289 to 295j, 297, 299 to 302, 304 to 306, 308 to 311, 313, 315, 316,
319 to 322, 325' to 330, 332 to 335, 337 to 340, 342, 343, 345, 346, 348,
349, 352 to 358, 361, 363, 365, 366, 369, 370, 373 to 376, 378 to 381, 384,
389 to 393, 412 to 417, 421 to 426, 428 to 430, 449, 451 to 458, 467, 468,
472, 473, 475, 481 to 483, 485, 486, 488 to 491, 493, 494, 496, 497, 501
to 503, 505, 511 to 513, 521, 527, 529 to 539
541, 542 544 546 to 549,
551, 553 to 556, 559 to 561, 565, 566, 570 to 577, 581, 582, 584, 586, 587,
590 to 592, 594 to 597, 599 to 605, 610, 611, 613 to 617, 619 to 622, 624
to 627, 629 to 637. 639, 644, 645, 647 to 662, 666, 668, 670, 671, 677, 678,
680, 683, 684, 687, 692 to 694, 696 to 698, 700 to 707, 709 to 719, 725,
727. 729 to 731, all inclusive.
(As previously reported in these columns, the district is offering for sale
on Oct. 8 two issues of non-callable refunding bonds
aggregating $500,000.)
,
WAYNE
COUNTY
County Commissioners
ment
of all
(P.
O.
announce
Detroit),
,
are
^
notes
£jo 'numbered).
Issued in coupqn form, in the denomination of $1,000 each, or, at the
option of the holder, in registered form in the denominations of $1,000,
$10,000 and $50,000. The notes shall be redeemable in whole or in part at
the option of the State Highway Note Commission on any interest payment
date in the inverse order of maturity at a price per note equal to the prin¬
cipal amount thereof plus accrued interest to the date fixed for redemption,
and a premium of M of 1 % of the principal amount of the note for each year
or fraction thereof over the full number of years from the date fixed for
redemption to the stated maturity of this note.
MISSISSIPPI, State of—BOND OFFERING—It is reported that the
State Bond Commission will offer for sale
on Oct. 10, an issue of $100,000
It is said that this offering will be a part of a $500,000
issue, payable from the gasoline tax at a rate of $50,000 per month beginning
July 1.
•'
;
short-term notes.
.
,
Mich.—BOND
that funds
$4,850,000 sub-series B notes. Dated April 1, 1936. Due on April 1 as
follows: $175,000,1938 to 1943; $225,000,1944 to 1949; $275,000
1950 and 1951; $300,000, 1952 to 1955, and $700,000 in 1956.
Said notes will be numbered from B-l to B-4,850, incl. (except
that registered notes originally issued shall be otherwise num¬
bered but shall be convertible into coupon notes so numbered).
750,000 sub-series S notes.
Dated Oct. 1, 1936.
Due $150,000 from
Oct. 1, 1956 to 1960 incl.
Said notes will be numbered from
S-l to S-750 (except that registered notes originally issued shall
be otherwise numbered but,shall be convertible into coupon
CALL— The
available for the retire¬
NOTES
OFFERED
FOR
PUBLIC
SUBSCRIPTION—'The
successful
bidders re-offered the above notes for general investment priced at from
102M to 103 for the series B notes, according to maturities, and at one
figure of 101M for all the series S notes.
OKTIOBEHA COUNTY (P. O.
StarkvUle), Miss.—MATURITY—In
connection with the sale of the $100,000 3M%
semi-ann. refunding bonds
Wiggins & Walton, of Jackson, at par, noted in these columns recently—
V. 143, p. 1121—we are informed by the Clerk of the Chancery Court that
the bonds mature $5,000, 1937 to 1956, incl.
to
outstanding bonds (Wayne County portion) of Road Assess¬
ment-Districts Nos. 1 to 14, which matured May 1, 1936.
MISSOURI
Northwestern
Municipals
Markets in all
BONDS
State, County & Town Issues
Minnesota, North and South Dakota, Montana,
Oregon, Washington
SCHERCK, RICHTER COMPANY
WELLS-DICKEY COMPANY
Telephone—Minneapolis Atlantic 4201
LANDRETH
BUILDING, ST.
LOUIS, MO.
Teletype—Mpls287
MISSOURI
MINNESOTA
GALLATIN SCHOOL
ANOKA COUNTY (P. O. Anoka), Minn.—BOND
Sealed
bids will be received until 11 a. m. on Oct. 10, by E. A. Carlson, County
Auditor, for the .purchase of a $5,000 issue of drainage funding bonds.
Interest rate is not to exceed 3%, payable A. & O.
Dated Oct. 1, 1936,
Due $l ,0Q0 from Oct, 1, 1941to-194t>, inch - Prin. and int.payable at the
Northwestern National Bank & Trust Co., Minneapolis.
The approving
opinion of H. W. Moody, of St. Paul, will be furnished.
BRAINERD,
Minn.—-BONDS
AUTHORIZED—The
City Council is
of $40,000 in
said to have passed an ordinance
providing for the issuance
3% refunding bridge bonds.
P
CLOQUET,
certificates pf
was
awarded
Minn .—CERTIFICATE
SALE—The
$15,000
issue
of
indebtedness offered for sale on Oct. 5—V. 143, p. 2090—
to the Wells-Dickey Co. of Minneapolis as 2J^s, paying a
premium of $93, equal to 100.62, a basis of about 2.34%.
Denom. $1,000.
Dated Sept. 1, 1936.
Due $3,000 from Sept. 1, 1938 to 1942, incl.
The
next highest bid was
by Harold E. Wood & Co. of St. Paul, an offer of
$39 premium on 2 Hs.
DISTRICT, Mo.—BOND SALE—The district
$33,000 3% school building bonds to the Commerce
Trust Co. of Kansas City.
'
has sold
is said that at an election
Sept. 29 the voters approved the issuance-of $67,375 in sewer and
disposal plant bonds by a wide margin.
on
KANDIYOHI
NO.
64
(P.
O.
COUNTY
CONSOLIDATED
SCHOOL
DISTRICT
Blomkest), Minn.—BONDS SOLD—A $16,000 issue of
school bonds is reported to have been sold to the State of Minnesota.
NEW YORK
warrants offered
MILLS, Minn.— WARRANT SALE—-The $17,000
on
sewer
Oct. 5—V. 143, p. 2090—were awarded to the Allison-
Williams Co. of Minneapolis on a bid of par for
4)^s.
Kalman & Co. of.
St. Paul bid a premium of $200 for 4Ms.
Dated Oct. 1, 1936.
Due over a
Iperiod of 10
JACKSON
COUNTY
(P.
O.
Independence),
Mo .—PETITION
B. Pew,
County" Counselor, has filed in the State Supreme Court a petition for a
writ of prohibition to restrain Judge M. D. Waltner of the County Circuit
Court, from enforcing an injunction issued by him to prevent the issuance
of the $2,761,300 in judgment funding and
refunding bonds approved by
the voters at the primary election on Aug. 4.
KANSAS CITY, Mo.—BOND SALE—The two issues of bonds aggre¬
gating $675,000, offered for sale on Oct. 5—V. 143, p. 2247—were awarded
to a syndicate composed of Lehman Bros., Kean, Taylor & Co.,
Eastman,
Dillon & Co., all of New York, and Wheelock & Cummins, of Des Moines,
at par, on the bonds' divided as follows: $275,000 as 3 Ks, maturing on Oct.
1: $6,000, 1938 to 1940; $7,000, 1941; $10,000, 1942 and 1943; $15,000,
1944 and 1945; and $20,000, 1946 to 1955; the remaining $400,000 as 2)Aa,
maturing $20,000 from Oct. 1, 1956 to 1975, incl.
follows:
„
$500,000 Series No. 4 s&wer bonds as 2Ms, to a syndicate composed of the
First Boston Corp., Estabrook & Co., both of New York, the
First of Michigan Corp., of Detroit, Harold E. Wood & Co., of
St. Paul, paying a price of 100.489, a basis of about 2.46%. Due
from Oct. 1,-1939 to 1966 incl.
100,000 public welfare bonds, as 1.90s, to a syndicate composed of Graham,
Parsons & CcJ., Eldredge & Co., both of New York, A. G. Becker
& Co. of Chicago, and the Allison-Williams Co. of
Minneapolis,
y
at a price of 100.09, a basis of about 1.88%.
Due from Oct. 10,
to 1946 incl.
'
BONDS OFFERED FOR INVESTMENT— The
offered the above bonds for general subscription at
to
2.45%, for maturities ranging from
1962 to
1966 maturities.
trust funds and
The bonds
were no
successful
bidders
re-
prices to yield from 1.20%
1939 to
are
said
1961, and at par for the
be legal investment for
to
Benson), Minn.—AVARRANTS NOT SOLD
bids received for the $30,000 warrants offered on Oct. 6—■
V. 143, p. 2247.
on
the above division of bonds.
all
according to maturity.
These bonds are said to be legal investments
for savings banks and trust funds in New York and Massachusetts.
ST. CHARLES, Mo —BOND SALE—A $25,000 issue of 2 y2 % Semi-ann.
park improvement bonds is stated to have been purchased by the St. Charles
Savings Bank for
a premium
of $367.50, equal to 101.47.
Dated Sept. 1,
1936.
MONTANA
BUTTE, Mont.—BOND SALE—An issue of $883,000 refunding bonds,
bearing interest at 3 % % and 4 %, has been sold to a syndicate composed of
Boettcher & Co.; Peters, Writer & Christensen, Inc., Denver; Shaw, Glover
6 Co.; Edgerton, Riley & Walter, Inc. of Los Angeles, and E. J. Prescott &
Co., Minneapolis.
Denom. $1,000.
Dated Jan. 1, 1936.
$275,000 bonds
bearing interest at 3%% will mature from 1937 to 1941; and $608,000
coming due from 1942 to 1946 will bear interest at 4%-
NASHUA, Mont.—BONDS
that at
an
election held
$50,000 in
on
VOTED—It is stated by the Town Clerk
Sept. 26 the voters approved the issuance of
water and sewer bonds.
Due in 20
sale has been scheduled as yet, according to report.
6%
years.
No date of
PONDERA COUNTY
savings banks in New York.
SWIFT COUNTY (P. O.
—There
interest cost of about 2.67%,
BONDS OFFERRED FOR INVESTMENT—'The successful bidders reoffered the said bonds for general subscription, the 3 Ms, priced to yield
from 1.00 to 2.65%, and the 23^% bonds priced to yield from 2.53 to 2.72%,
years.
ST. PAUL, Minn.—BOND SALE—The two issues of bonds aggregating
$600,000, offered for sale on Oct. 8—-V. 143, p. 2091—were awarded as
•
issue of
FILED AGAINST INJUNCTION SUIT—It is reported that J.
Net
EXCELSIOR, Minn.—BONDS VOTED—It
held
an
It is stated
(P. O. Conrad), Mont.—BOND ELECTION—
by the County Clerk that $60,000 court house bonds will be
voted upon
at the general election on Nov. 3.
ROOSEVELT COUNTY SCHOOL DISTRICT NO. 17 (P.
son),
Mont.—BOND
OFFERING—Sealed
bids
will
be
O. Culbertreceived until
7 p. m. on Oct. 31t by Oliver Lab, District Clerk, for the purchase of a $5,500
issue of school bonds.
Interest rate is not to exceed 6%, payable J. & D.
Dated Dec. 1, 1936. Amortization bonds
choice of the district.
bonds the second
will be the first choice and serial
Whether amortization or serial
Volume
Financial
143
2409
Chronicle
bonds are issued, they will be redeemable in full on any interest payment
date from and after five years from the date of issue.
A certified check
for
Offeringt— Wanted
$600, payable to the said Clerk* is required.
New York State Municipals
nebraska
County—City—Town—School Dietrict
municipals
OFFERING
Gordon Graves & Co.
WANTED
OMAHA, DOUGLAS COUNTY, LINCOLN
AND
OTHER
NEBRASKA
MEMBERS NEW
ISSUES
WALL ST.,
1
YORK STOCK EXCHANGE
N. Y.
•
Whitehall 4-5770
The National company
OF
First National Bank
NEW
OMAHA
A. T. & T. Teletype
Bldg-
OMA 81
NEBRASKA
r
BROWN
COUNTY
(P. O. Ainsworth), Neb.—BOND ELECTION—
It is stated by H. H. Duffy, County Clerk, that the $60,000 3M% bonds
to care for outstanding 6% warrants and interest totaling $56,000, men¬
tioned in these columns recently—V. 143, p. 2248—will be submitted to
a
vote of the electors at the general election on Nov. 3.
YORK
ALDEN, N. Y.—BOND OFFERING—Joseph A. Weisbeck, Village
Clerk, •will receive bids until 2 p. m. Oct. 14, for the purchase at not less
than par of $75,000 coupon, fully registerable, general obligation, unlimited
tax, emergency relief bonds.
Bidders are to name rate of interest, in a
multiple of M% or 1-10%, but not to exceed 5%.
Denom. $1,000. Dated
Oct. 1, 1936.
Principal and semi-annual interest (April 1 and Oct. 1)
payable at the Alden State Bank, Alden. Due on Oct. 1 as follows: $3,000,
1938; and $4,000, 1939 to 1956.
Certified check for $1,500, required.
Approving opinion of Clay, Dillon & Vandewater of New York will be
furnished by the village.
$
1
Financial Statement
DIXON COUNTY SCHOOL DISTRICT NO. 24 (P. O. Newcastle),
Neb.—BOND CALL—A $10,000 issue of 5% school refunding bonds is
The assessed valuation of the property subject to t£e taxing power of
the village, as it appears on the last preceding village assessment roll, is
said to be scheduled for payment at the office of the Green way-Kay nor Co.
of Omaha, on Nov. 1, on which date interest shall cease. Dated Nov. 1,1933.
The total contract debt of said village, including the bonds
advertised for sale, is $79,000.
Deducting none tax notes, none
debt, and none paving or sewer obligations issued prior to May 22,
1934, to pay all or any part of the cost assessed against the property
benefited, the net debt is $79,000.
The population of the village (1930
census) was 846.
The total debt above stated does not include the debt of
any other subdivision having power to levy taxes upon any or all of the
property subject to the taxing power of the village.
The fiscal year com¬
mences March
1.
The amount of taxes levied for the fiscal years com¬
$1,197,315.
herein
water
FURNAS COUNTY (P. O. Beaver City), Neb.—BOND ELECTION—
The County Clerk states that at the general election on Nov. 3 the voters
will pass on the issuance of
to
exceed
1941
3%.
Denom.
1945, incl.
to
$35,000 in refunding bonds.
Int. rate is not
Dated Dec. 1, 1936.
Due $7,000 from
$500.
REDWILLOW
COUNTY
SCHOOL
DSITRICT
NO.
16 (P.
O.
McCook), Neb.—BOND SALE DEFERRED—It is stated that the $1,400
3)^% semi-annual school bonds were not sold on Oct. 1 as scheduled—
V. 143, p. 2091—the sale being deferred indefinitely.
<
mencing March 1,1933, March 1,1934, and March 1,1935, was respectively
$9,870.56, $10,528.38 and $10,919.42.
The amount of such taxes un¬
collected at the end of each of said fiscal years Vas respectively $1,008.60,
$1,188.90 and $996.12.
The amount of such taxes remaining uncollected
of the date of this notice is
respectively $966.60, $11,34.45 and $906.28.
$10,fiscal
year became delinquent July 1, 1936.
as
The taxes of the fiscal year commencing March 1, 1936, amount to
775.90 of which $9,020 has been collected.
Said taxes for the current
NEVADA
RENO, Nev.—LEGAL APPROVAL—In connection with the sale of the
$280,500 bridge and park bonds to the First National Bank of Reno, as
2Ms, at 100.106, a basis of about 2.74%", as noted In these columns
recently—V. 143, p. 2091—it is reported that the bonds will be approved
as to legality by Pershing, Nye, Bosworth & Dick, of Denver.
BRIGHTON COMMON SCHOOL DISTRICT NO. 4 (P. O. Saranac
Lake),
N.
Y.—BOND OFFERING—Jennie E.
Rochester,
Sole
Trustee,
will receive bids until 3
p. m. Oct. 16, for the purchase at not less than par
of $22,000 coupon, fully registerable, general obligation, unlimited tax,
school building addition construction bonds.
H. L.
Bidders are to name rate of
interest, in a multiple of M% or 1-10%, but not to exceed 6%.
Denom.
$1,000.
Dated Nov. 1, 1936.
Principal and semi-annual interest (May 1
and Nov. 1) payable at the Adirondack National Bank & Trust Co.,
Saranac Lake, in New York exchange.
Due $1,000 yearly on Nov. 1 from
1937 to 1958, incl.
Certified check for $300, payable to Anna Carr, District
Collector, required.
Approving opinion of Clay, Dillon & Vandewater of
New York will be furnished by the district.
Alm| Company
New Jersey
Mympipal Bonds
Telephot^ftl£$for 2-7333
BUFFALO,
^
100 Broadway
Y.—TAX COLLECTIONS SHOW HEAVY GAIN—
N.
Tax collections for the first half of the 1936-37 fiscal year, City Treasurer
D, Hoban, recently announced, greatly exceed collections for the
N. Y. 1-528
A. T. & T.
James
period a year ago.
According to Mr. Hoban, the collections since July 1, totaled $11,659,For the same period in 1935. the first half collections amounted
to $9,220,990.37.
This is an increase of $2,438,590.32.
The total tax levy for the entire fiscal year of 1936-37 is $25,743,480,51.
For 1935-36 the total levy was $21,431,778.82.
same
New York
480.69.
MUNICIPAL BONDS
July Total Cited
total of $11,022,451.35 was collected.
Of this amount
$3,559,347.39 was paid directly at the jtity treasurer's office in the City
Hall and payments by mail totaled'^7,463,103.96.
During August the payments totaled"$534,238.02 and so far in September,
$102,791.02.
The payments in July, 1935, amounted to $8,757,244.81 and in August,
$463,745.56.
Payments on the second half of the current taxes are not due until
During July
New Jersey
and General Market Issues
B. J. Van Ingen & Co.
57 WILLIAM
Telephon
STREET, N. Y.
t
Inc.
John 4-5364
Jan.
T.
A.
A.
Y
T.: N.
1-730
Newark Tel.:
Market 3-3124
a
1.
Collection of water bills, Director Alan
D. Drake of the division of water
announced, is practically 100% for the current period.
$56,000 City of Clifton, N. J., (Pop. 46,875), Ret. 4Ms
Due October 1,
1946-63 to yield 4.10%-4.20%
DOBBS FERRY,
N. Y.—BOND OFFERING—Walter G. Warman,
Village Clerk, will receive sealed bids until 3 p. m. on Oct. 9 for the purchase
of $17,000 not to exceed 6% interest coupon or registered street improve¬
ment bonds.
Dated Oct. 1, 1936. Denom. $1,000.
Due Oct. 1 as follows:
$3,000 from 1937 to 1939 incl. and $4,000 in 1940 and 1941.
Bidder to
name one rate of interest on all of the bonds, expressed in a multiple of
M
Colyer, Robinson $ Company
INCORPORATED
1180
MArket 3-1718
Raymond Blvd., Newark
New York Wire:
A. T. & T. Teletype
REctor 8-2055
oi/l-lO of 1%.
Ferry Bank.
NWRK 24
Principal and interest (A. & O.) payable at the Dobbs
are general obligations of the village, payable from
The bonds
unlimited taxes.
A
certified check for 2%
of the issue, payable to the
order of the village, must accompany each proposal.
The approving
opinion of Thomson, Wood & Hoffman of New York'will be furnished the
successful bidder.
—:
DRYDEN AND HARFORD CENTRAL SCHOOL DISTRICT NO. 1
(P. O. Dryden), N. Y.—BOND OFFERING—John Noro, District Clerk,
the purchase of $32,000
not to exceed 4% interest coupon or registered bonds, divided as follows:
will receive sealed bids until 2 p. m. on Oct. 14 for
NEW JERSEY
$20,000 series 2 school bonds of 1936.
Due $1,000 on Oct. 1 from 1939 to
1958 incl.
BELMAR, N. J.—BOND ISSUE DETAILS—The $303,500 refunding
bonds sold to the State bear 4M% interest, bear date oT May 1, 1936 and
mature May 1 as follows: $10,000 from 1937 to 1965 incl. and $13,500
in 1966.
The borough received a price of par for the bonds.
'
MORRIS PLAINS, N. J.—BOND SALE—The $1,000 serial funding
bonds offered on Oct. 1—V. 143, p, 1754—were awarded to the Morristown
Trust
Co.
2.92%.
of Morristown
on
Dated Oct. 1, 1936.
a
bid of 100.805 for 3Ms,
a
basis of about
Due Oct. 1, 1937.
PLEASANTVILLE, N. J.—BOND SALE—The issue of $15,000 55
coupon or registered sewer bonds offered on Oct. 5—V. 143, p. 2094
was sold at a price of par.
Dated Feb. 1, 1936 and due $5,000 on Feb. 1
from
1947 to 1949, inclusive.
SOUTH
RIVER,
N.
J.—BOND OFFERING—George
A.
Bowen,
Borough Clerk, will receive sealed bids until 8 p. m. on Oct. 19, for the
purchase of $110,000 not to exceed 6% interest coupon or registered sewer
bonds.
Dated OQt. 1, 1936.
Denom. $1,000.
Due $5,00d%n Oct. 1
from 1938 to 1959, incl.. Rate of interest to be expressed by the bidder in
multiple of M of 1%.
Principal and interest (A. & O.) payable at the
First National Bank, South River.
The Security Bank Note Co. of
12,000 equipment bonds of 1936. Due Oct. 1 as follows: $2,000 from 1937
to 1939 incl. and $3,000 in 1940 and 1941.
Each issue is dated Oct. 1, 1936. Denom. $1,000. Bidder to name one rate
of interest and bid for all of the bonds.
Interest rate to be expressed in a
1-10 of 1%. Principal and interest (A. & O.) payable at
Bank
Dryden, or, at holder's option, at the Marine
York City. A certified check for 2% must accom¬
pany each proposal.
The approving opinion of Hawkins, Delafield & Long¬
fellow of New York City will be furnished the successful bidder. k
multiple of M
the
or
First National
Midland Trust Co., New
Financial Statement
Assessed
valuation
(real
and
personal
property,
franchises)
Total bonded debt (incl. present offering).:
incl.
special
$2,159,592
211,000
Population, estimated, 2,500.
Tax Collection Report
District
The
was
organized Oct. 22,
1935 and at the first meeting on
July 14, 1936 a tax levy of $13,264.84.
a
Philadelpnia will supervise the preparation of the bonds and certify as to
signatures of city officials and seal impressed on the
instruments.
A certified check for 2% of the bonds bid for, payable to
the order of the borough, must accompany each proposal.
The approving
opinion of Caldwell & Raymond of New York will be furnished the success¬
the genuineness of the
ful bidder.
VINELAND, N. J .—BOND OFFERING—Robert E. Beakley, Borough
Clerk, will receive sealed bids until 3 p. m. on Oct. 20 for the purchase of
$100,000 not to exceed 4% interest coupon or registered electric light plant
bonds.
Dated Oct. 1, 1936.
Denom. $1,000.
Due Oct. 1 as follows:
$6,000 from 1937 to 1941 incl. and $7,000 from 1942 to 1951 Incl.
Rate
of interest to be expressed in a multiple of M of 1 %.
Principal and interest
(A. & O.) payable at the Vineland National Bank & Trust Co., Vineland,
or at the Guaranty Trust Co., New York City.
A certified check for 2%
of the bonds bid for, payable to the order of the borough, must Accompany
each proposal.
The approving opinion of Caldwell & Raymond of New
York will be furnished the successful
WEST
bidder;
LONG
BRANCH, N. J.—BOND SALE—The $55,000 coupon
or registered refunding bonds offered on Oct.
1—V. 143, p. 1916—were
awarded to B. J. Van Ingen & Co. of New York, C. A. Preim & Co., of
New York, and C. P. Dunning & Co. of Newark, jointly on a bid of 95
for 4Ms, a basis of about 5.28%.
Dated Oct. 1, 1936.
Due Oct. 1 as
follows: $2,000,
1937 to 1962, and $3,000 in 1963.
ERIE COUNTY (P. O. Buffalo), N.
Y —BOND SALE—The $1,100,000
registered, general obligation, unlimited tax, emergency relief
on Oct. 8—V. 143, p. 2249—were awarded to a syndicate
composed of Lehman Bros., Marine Trust Co., Buffalo, Ladenburg,
Thalmann & Co., Estabrook & Co., Phelps, Fenn & Co., and Schoellkopf,
Hutton & Pomeroy, Buffalo, as 2.20s, at a price of 100.07, a basis of about
2.19%.
Dated Oct: 1, 1936 and due April 1 as follbws: $100,000 in 1938
and $125,000 from 1939 to 1946, incl.
Members of the successful banking
group are making public re-offering of the issue at prices to yield, ac¬
cording to maturity, as follows: 1938, 0.80%; 1939, 1.30%; 1940, 1.60%;
1941, 1.80%; 1942, 2%; 1943, 2.15%; 1944,* 2.20%; 1945, 2.25%; 1946,
coupon
bonds
or
offered
2.30%.
GREECE, N. Y.—BOND SALE—The $25,000 coupon, fully registerable,
general obligation, unlimited tax, work and home relief bonds offered on
Oct. 9—V. 143, p. 2249—were awarded to Sherwood & Merrifield of New
York, as 3.20s, for a premium of $27.50, equal to 100.11, a basis of about
2.23%.
Dated Oct. 1, 1936.
Due $3,000 on April 1 in each year from
1939 to 1945; and $4,000 April 1, 1946.
Sage, Rutty & Steele of Rochester
bid a premium of $96,63 for 3.30s.
E. H. Rollins & Sons of New York, who
had submitted a bid of $25,060 for 3Ms, reduced the interest rate to 3Ms
by wire, but the wire was rejected.
GREENBURGH
Dobbs
Ferry),
UNION
FREE SCHOOL DISTRICT NO.
N. Y.—BOND OFFERING—H.
Victor Burlock,
3
(P. O.
District
Clerk, will receive sealed bidsr until 2 p. m. on Oct. 16 for the purchase of
Financial
2410
19345-193456.-
Chronicle
3% coupon or registered school bonds.
Dated Oct. 1, 1936.
Denom. $1,000.
Due $2,000 on Oct. 1 from 1937 to 1946, incl.
Prin.
and int: (A. & O.) payable at the Marine Midland Trust Co., New York
City.
A certified check for 5%, payable to the order of the District Treas¬
urer, must accompany each proposal.
Legal opinion of Thomson, Wood &
Taylor, "that the 1936 levy, for the second half of the year is $226,772,401.85, while that for 1935 Vas $234,685,274.
"According to these figures, we should be collecting much less at the
present time.
On a percentage basis, it works out as follows: By Septem¬
ber 30, 1935, we had collected 17.25% of the second half of that year's
levy.
For the same period, this year, we have collected 21.44%.
"In other words, we are 4 1-5% ahead of last year."
Hoffman of New York will be furnished the successful bidder.
Financial Statement
___
Total bonded debt--
Year—
■
'
$15,865,102
660,000
_
*«r-_
_
,:r
^•
-
\.'v
Levy
$97,270
98,778
138,080
150,880
—
---
—
--
-
—
1936-1937 (now in process Of collection)
—
Note—The District is assured of a 100% tax collection, the delinquency,
being paid by the town.
.
#
CITY SCHOOL DISTRICT, N. Y.—BOND SALE—The
$19,000 coupon or registered school bonds offered on Oct. 5—;V. 143,
p. 2249—were awarded to the Manufacturers & Traders Trust Co. of
Buffalo on a bid of 100.149 for 2s, a basis of about 1.97%.
Dated Sept. 1,
1936.
Due Sept. 1 as follows: $2,000, 1937 to 1945, and $1,000, 1946.
HORNELL
LINDENHURST,
Y.—OTHER^BIDS—The
N.
$6,000
coupon
apparatus purchase bonds sold on^ct. 2 as 2 Ms, at par, to the
hurst Bank and the First National Bank, both of Lindenhurst (each
$3,000),
were also
bid for
George B. Gibbons & Co., Inc
—
-
Roosevelt & Weigold
LOCKPORT, N.
bought
Premium
3.10%
3.40%
3.40%
3.90%
$27.51
8.40
7.20
16.80
Y.—bSnD
SALE—The $20,000 coupon or registered
5—V. 143, p. 2248—were awarded to the
2.10s, at a price of 100.16, a basis'of about
Dated Oct. 1, 1936 and due $2,000 on Oct. 1 from 1937 to 1946,
bonds offered
Oct.
on
Marine Trust Co. of Buffalo
2.07%.
as
incl.
'
amount of
(Town of), N. Y.—TWO ISSUES COMBINED IN
ONE OFFERING—The town, which previously issued separate notices for
the sale on Oct. 15 at 1:30 P. m., of $45,000 highway bonds and $36,000
water distribution system bonds, announces that the two issues will be
sold
unit and that
single offer must be made for all of the bonds.
Different interest rates may be named on each loan and the award will be
made to the bidder whose offer figures the lowest interest cost on the entire
$81,000 bonds.
Interest c.ate must not be more than 6%, expressed in a
multiple of
or l-10th of 1%.
Details of the loans are as follows:
$45,000 coupon or registered highway bonds of 1936. Dated Oct. 1, 1936.
Denom. $1,000. Due Oct. 1 as follows: $2,000 from 1937 to 1951,
incl. and $3,000 from 1952 to 1956, incl. Thisissue will be approved
as to legality by Hawkins, Delafield & Longfellow of New York
City
36,000 coupon or registered water distribution bonds. Dated Oct. 1,1936.
Denom. $1,000.
Due $1,000 on Oct. 1 from 1938 to 1973, incl.
Thisissue will be approved as to legality by Clay, Dillon & Vandewater of New York City.
Sealed bids should be addressed to Walter R. Marvin, Town Clerk.
Principal and interest (A. & O.) payable on each loan at the National City.
Bank, N. Y. Oity.g
as
a
a
.
MANLIUS, N. Y.—BOND SALE—The $7,500
coupon or registered fire
apparatus and equipment bonds offered oh Oct. 5—V. 143, p. 2249—were
awarded to the Manufacturers & Traders Trust Co. of Buffalo as 4s, at a
price of 100.078, a basis of about 3.98%.
Dated Oct. 1, 1936 and due
$1,500 on Oct. 1 from 1937 to 1941, inclusive.
NISKAYUMA FIRE DISTRICT NO. 1 (P. O.
SchenectadybTN. Y.—
BOND OFFERING—George Hughes,
Secretary of the Board of Fire Com¬
missioners, will receive bids'at the office of Roy W. Peters, Schenectady,
until
11
a.
m.
Oct.
13 for the purchase at
not
less than par of $21,500
fully registerable, fire apparatus bonds. Bidders are to name rate
of interest, in a multiple of M % or
1-10%, but not to exceed 6%. Denom.
Oct. 1, 1936. -Principal and semi-annual interest
(April 1
and Oct. 1) payable at
coupon,
the^chenectady Trust Co., Schenectady.
Due
1937; $1,500, 1938 to 1950, and $1,000, 1951.
Certified
payable to the district, required.
Approving
opinion of Clay, Dillon & Vandewater of New York will be furnished by the
district.
WA
Oct.
1
as
NEW
follows: $1,000,
check for $500,
ROCHELLE,
N.
Y.—BOND OFFERING—'Walter J.
^1^cct?rnRn1uinailce',-w^1i receive sealed bids until
of
Brennan",
Oct. 20 for the purchase
$755,000 bonds, divided as follows:
$450,000 home and (or) veterans' relief bonds.
Due Oct. 1 as follows:
$57,000 from 1939 to 1945 incl. and $51,000 in 1946.
L271,000 municipal improvement bonds. Due Oct. 1 as follows: $30,000
from 1938 to 1945 incl. and $31,000 in 1946.
34,000 various equipment bonds. Due Oct. 1 as follows: $8,000 from
1937 to 1940 incl. and $2,000 in 1941.
All of the bonds will be dated Oct.
1, 1936. Rate of interest to be named
by the bidder.
N* Y.—TEMPORARY BORROWING DURING SEP¬
TEMBER—I he city borrowed $48,000,000 in
anticipation of taxes and
permanent financing during the month of September.
comprising the month's total are:
The various items
$40,000,0001^% revenue bills of 1936. Due Dec. 31,
1936.
5,000,000 1M % certificates of indebtedness
for, work
Due March 25, 1937.
3,000,000 1M% special revenue bonds of 1936.
and
home
relief
purposes.
Due Sept. 15, 1937.
F'RE DISTRICT NO.
BONDJ^ALE-—The Marine Trust Co. of
total of
$28,000 bonds
as
The sale consisted of:
outstanding revenue notes.
OGDENSBURG, N. Y.—BOND OFFERING—M. M. Morse, City
Treasurer, will receive bids until 1 p. m. Oct. 16 for the purchase at not
less than par of $50,000 coupon, fully registerable, general obligation,
unlimited tax, debt funding bonds. Bidders are to name rate of interest,
in a multiple of
M% or 1-10%, but not to exceed 4%. Denom. $1,000.
Dated Oct. 1, 1936. Principal and semi-annual interest (April 1 and Oct. 1)
payable at the City Treasurer's office, or at the Bank of the Manhattan
Co., in New York. Due $5,000 yearly on Oct. 1 from 1937 to 1946 incl.
Certified check for $1,000, payable to the city, required. Approving opinion
of Clay, Dillon & Vandewater of New York will be furnished by the city.
SARATOGA SPRINGS,
N. Y.—PLANS BOND ISSUE—The city
plans to issue $35,000 bonds for the purpose of providing for the cost of
Works Progress Administration work relief projects.
SCHENECTADY,
1 (P. O. Kenmore), N.iY.Buffalo purchased on Sept. 30 a
4 Ms, at a price of 100.11, a basis of about
Y.—HIGHER
N.
_
TAX RATE FORECAST—'The
proposed budget for 1937, filed in the City Clerk's office by City Manager
LeRoy C. Purdy, represents an increase of $708,782 over the present year s
total, indicating an increase in the tax rate from the current rate of $24.62
to $29.60, according to report.
The budget must be finally adopted by
the council by Nov. 1.
The tentative net budget totals $4,553,261 against
$3,844,479 this year; while the gross amount is $7,374,181 as compared
with the 1936 total of $7,078,391.
Anticipated revenues show a decline
to $2,820,919, as compared with $3,233,912 this year.
SOUTH GLENS
or
MAMARONECK
o
,
_
Int. Bate
P. B. Roura Co
fire
Linden-
expected to
follows:
as
Bidder—
O. E. Weinig Co
impt.
NEW YORK, N. Y —BOND OFFERING PLANNED—The city is
come to market sometime this month with a public offering of
$30*000,000 1 to 5-year serial bonds for the purpose of funding an equal
Tax Levies
'
'
-
if any,
.
5.000^^
Population: Estimated,
1936
10,
of that year, the sum of $40,482,307.11.
For the same period this year
the amount collected totals $48,619,411.98, or $8,137,104.87 more.
"It must also be remembered in this connection." said Comptroller
$20,000
Assessed valuation
Oct.
FALLS, N. Y.—BOND SALE—The $15,000 coupon
p..2094—were
registered work relief bonds offered on Oct. 7—V. 143,
awarded to Gertler & Co. of New York on a bid of
of about 1.97%.
Dated Oct. 1, 1936.
Due Oct.
100.148 for 2s, a basis
1 as follows: $2,000,
1937 to 1943; and $1,000, 1944.
"
Y.—CERTIFICATE SALE—The $53,500 certi¬
which were offered on Oct. 5—& Co. of New York at
premium of $37.45, equal to 100.07, a basis of about
SOUTH
NYACK,
N.
ficates of indebtedness
described below,
V. 143, p. 2249—were awarded to Adams, McEntee
2% interest, for a
1.98%:
$31,500 series No. 2 street improvement certificates.
1 from 1937 to 1941 incl,.
Denom. $6,300.
Due $6,300 on Oct.
.
-
12TJF0O fire equipment certificates.
1941 incl.
A
Due $2,400 on Oct. 1
Denom. $2,400.
from 1937 to
^
^
,
10,000 series No. 1 street improvement certificates. Due $2,500 on Oct. 1
from 1937 to 1940 incl.
Denom. $2,500.
•'
All the certificates will be dated Oct. 1, 1936.
Principal and interest
(A. & O.) payable at the Nyack National Bank & Trust Co., Nyack.
A. C. Allyn & Co. of New York bid 100.055 for 2 Ms.
_
.
,
TRIANGLE, LISLE, BARKER, CHANANGO, NANTICOKE AND
MAINE, BROOME COUNTY, MARATHON AND WILLET, PORT¬
LAND
COUNTY,
GREENE
AND
SMITHVILLE,
CHENANGO
COUNTY. CENTRAL SCHOOL DISTRICT NO. 1 (P. O. Whitney's
Point), N. Y.—BOND OFFERING—Carl R. Bird, District Clerk, will
receive bids until 2 p. m. Oct. 16 for the purchase at not less than par of
$16,800 couppn, fully registerable, general obligation, unlimited tax, school
bus^garage construction bonds. Denom. $1,000 except one for $500 and
one Tor $300.
Dated Nov. 1,,1936.
Principal and semi-annual interest
(May 1 and Nov. 1) payable at the New York Trust C6., New York.
Due on Nov. 1 as follows: $1,000, 1939 to 1952; $1,300, 1953, and $1,500,
1954.
Bidders are to name rate of interest, in a multiple of M % or 1-10%
but not to exceed 6%.
Cert, check for $300, payable to Ernest L. Edmister, District Treasurer, required.
Approving opinion of Clay, Dillon
& Vandewater of New York will be furnished
by the district.
YONKERS, N. Y.—BOND SALE—The $1.300,000 coupon or registered
bonds offered
on
Oct. 7—V. 143, p. 2094—were awarded to a group com¬
posed of the Chase National Bank, Bank of the Manhattan
Co., Stone &
Co., all of New York,
bonds, maturing from
1943 to 1946 incl., as 2Ms; $236,000, due from 1937 to 1955 incl., as 3s,
and $285,000, maturing from 1937 to 1946 incl., as 3 Ms. The financing was
negotiated by the city on a net interest cost of 2.692%. The offering con¬
Webster and Blodget, Inc., and Goldman, Sachs &
which paid a price of 100.197 for $779,000 of the
sisted of:
$449,000 general bonds of 1936, series 3. Due July 1 as follows: $110,000
from 1943 to 1945 incl., and $119,000 in 1946.
330,000 refunding bonds of 1936.
Due July 1 as follows: $80,000 from
1943 to 1945, incl., and $90,000 in 1946.
225,000 general bonds of 1936, series 4. Due $25,000 on July 1 from 1938
to 1946, incl.
*
'
190,000 water bonds of 1936, series 2.
Due $10,000 on July 1 from 1937
to 1955, incl.
60,000 equipment bonds of 1936'.
Due July 1 as follows: $10,000 from
1937 to 1939, incl., and $15,000 in 1940 and 1941.
46,000 local improvement bonds, series C of 1936.
Due July 1 as fol¬
lows: $3,000 from 1938 tol951, incl., and $4,000 in 1952.
All of the bonds will be dated Oct. 1, 1936.
Graham, Parsons & Co. of New York headed an account which bid a
price of 100.011 for the issue of $60,000 as 4s and the balance of $1,240,000
bonds as 2Ms.
Others in the group were Blyth & Co., Inc., Roosevelt &■
Weigold, Inc., Eldredge & Co. and Edward Lowber Stokes & Co.
4.48%.
NORTH
CAROLINA
-
$17,000 fire hall bonds.
Due Oct. 1 from 1940 to 1956 incl.
11,000 fire apparatus bonds. Due Oct. 1 as follows: $2,000 in
1939 and $1,000 from 1940 to 1946 incl.
j.Eachissuois dated Oct. 1, 1936. Denom.
$1,000.
1938 and
Principal and interest
(A. & O.) payable at the First National Bank of Kenmore, with New York
exchange.
Legality! approved by Clay, Dillon & Vandewater of New
York City.
COUNTY
O. Beaufort), N. C.—NOTE SALE—It
is reported that a $35,000 issue of notes was purchased on Oct. 6 by the
First Citizens Bank of Smithfield, at 3M%.
BEAUFORT
CHAPEL
(P.
HILL, N. C.—NOTE SALE—A $20,000 issuo'of notes is re¬
ported to have been purchased on Oct. 6 by the First Citizens_Bank & Trust
Co. of Smithfield at 2M %
•
NEW YORK, N. Y.—COMPTROLLER CITES CONTINUED GAIN
IN 1AA COLLECTIONS'—Despite the fact that collections for the first
day,
on account of the second half of the
1936 tax levy, seemed to have fallen
off about $6,500, as compared with the same
day, last year, Comptroller
Frank J. Taylor, declared Oct. 2,
that, in reality the city was $8,137,104
a
"ecause °f advance payments that had been made between April 1,
Thursday, last, when payments for the second half of the year fell due.
on Thursday
night, Oct. 1, the end of the first
day for the collections of the last half of the year, Comptroller Taylor's
j
and
At the close of business
books showed that $646,377.04 had
day last
Here
at
year was
are
been
taken in.
!936
v.
Manhattan
gronx-
Brooklyn
The figure for the same
$652,913.02, or a drop of $6,535.98.
by Boroughs:
the comparisons
1935
$237,113.39 $227,388.77
-«
-
96,764.92
-
QueensRichmond
•
-
Totals-.-.
79,505.13
171,406.11
125,538.51
15,554.11
197,833.10
133,606.15
14,579.87
$646,377.04 $652,913.02
"We have been plunging ahead,
collecting back taxes, at such a record
rate, for the past year and a half," said Comptroller Taylor, "that from
now on, it will be
only natural to expect less and less collection of former
delinquency.
"However, I notice that from reports made to me today, showing advance
between April 1 and Sept. 30. we are running more than $8,000,-
years
000 ahead for the same period, last year.
"This means we are still
keeping
the old record breaking pace, in
collections, which, reflected first in the early part of 1935, served to estab¬
lish the city again on a firm financial
basis, adding considerably to
its
According to records, in the Comptroller's office, the city had collected,
of the second half of the 4935
levy, up to and including Sept. 30,
ROBESON
COUNTY (P. O. Lumberton),
N. C—FINANCIAL
connection with the offering scheduled for Oct. 13,
STATEMENT—In
of the $80,000 school bonds, notice
of which was given in these columns
recently—V. 143, p. 2250—the following official information has
furnished by the Local Government Commission:
Assessed valuation,
Outstanding bonds for other than school purposes—--—-—
Outstanding bonded debt for school purposes, exclusive of
bonds now offered-
Bonds
now
been
$31,213,163.00
1935-/
——
offered
Outstanding school notes (State building and literary
fund) _ -
1,752,000.00
666,000.00
80,000.00
156,200.00
including bonds now offered
$2,654,200.00
Sinking funds—Regular county sinking fund.---$321,696.92
Total outstanding debt,
School sinking fund
40,261.54
—-.
$361,958.46
Total sinking funds
Amount due Robeson County from State
sion
Highway Commis¬
(payable annually to 1938—$51,770.95 in 1938)
Tax History
1933
up
credit.
on account
N. C.—BOND SALE—The $30,000 issue of coupon
public improvement bonds offered for sale on Oct. 6—V. 143, p. 2249—was
awarded to Kirchofer & Arnold, Inc., of Raleigh, paying a premium of
$22.80, equal to 100.076, a net interest cost of about 3.38%, on the bonds
divided as follows: $26,000 as 3Ms, maturing $2,000 from Oct. 1, 1939 to
1951; and $4,000 as 3s, maturing $2,000 on Oct. 1, 1952 and 1953.
GOLDSBORO,
Assessed
valuation
.
Tax rate--
-
Tax levy.
Amount collected
Tac raoa,
;
1)33: Ojanby
'1934
101,770.95
1935
$30,665,982 $31,039,358 $31,213,163
60c.
80c. "
80c.
$312,793
$380,695
$432,071
286,368
341,561
wide', 8Jc. ;schooi debt service, 35c.
344,406
Financial
Yolume 143
EAST
Bond Maturities to June 30, 1942
1936-37— S76,475.00
1938-39...$101,475.00
1940-41... $77,525.00
1937-38—. 170,775.00
1939-40—. 236,875.00
1941-42—.
68,000.00
Robeson County is the largest county in the State, having an area of
990 square miles.
It ranks eighth in population according to the 1930
Federal census, with a population of 66,512.
The 1920 Federal census
was 54,674.
SANFORD, N. C.—NOTES SOLD—A $10,000 issue of notes is reported
to have been purchased on Oct. 6 by the National Bank of Sanford, at 4%
plus a premium of $7.50.
TARBORO, N. C.—MATURITY—It is stated by the Town Clerk that
Citizens Bank &
columns recently
—V. 143, p. 2248—are due on Dec. 24, 1936.
the $15,000 tax anticipation notes purchased by the First
Trust Co. of Smithfield, at 1.90%, as reported in these
WASHINGTON,
C.—BOND OFFERING— Sealed bids will be re¬
ceived until 11 a. m. on.Oct. 20 by W. E. Easterling, Secretary of the Local
Government Commission, at his office in Raleigh, for the purchase of a
$90,000 issue of coupon or registered electric light system bonds. Interest
rate is not to exceed 6%, payable M. & N.
Rate to be stated in multiples
of K of 1%.
Denom. $1,000. Dated Nov. 1, 1936. Due on Nov. 1 as
follows: $15,000. 1939, and $25,000, 1940 to 1942 incl. Prin. and int. pay¬
able in lawful money in New York City. Delivery at place of purchaser's
choice.
The approving opinion of Reed, Hoyt & Washburn of New York
City will be furnished the purchaser.
Each bid may name one rate for
part of the bonds (having the earliest maturities) and another rate for the
balance, but no bid may name more than two rates and each bid must
specify the amount of bonds of each rate. The award will be made on the
offer which will give the lowest net interest cost to the city. No bid of less
than par and accrued interest will be entertained.
A certified check for
$1,800, payable to the State Treasurer, must accompany the bid.
N.
WASHINGTON, N. C —NOTE SALE—An $8,250 issue of notes is
reported to have been purchased on Oct. 6 by the Waccamaw Bank &
Trust Co. of Whiteville, at 3%, plus a premium of $8.27.
j
NORTH
(P. O. Fargo), N. Dak.—BOND OFFER¬
ING—L. J. Danger, Township Clerk, will receive bids until 11 a. m. Oct. 17
for the purchase of $2,500 5% bonds.
Certified check for 2% required.
OFFER¬
County, N. Dak.—BOND
ING—Andrew Wastman, Township Clerk, will receive bids at the County
Auditor's office in Forman until 10 a. m. Oct. 10 for the purchase at not
less than par of $2,000 bonds.
Due yearly from 1938 to 1947, incl. Cert,
check for 2% of amount of bid, required.
FOOTHILLS SCHOOL DISTRICT NO. 17 (P. O.
Sinking
Fund
bonds, dated Oct. 1,
CLEVELAND, * Ohio—bond SALE—The
Trustees purchased!$5,000 5%
sidewalk and sewer
1936 andjiue $500 on Oct. 1 from 1938 to 1947, incl.
j
FRANKLIN COUNTY (P. O. Columbus) jOhio—bond
election
CountyfcCommissioners have decided to submit a proposed $204,000
emergency poor relief bond issue to the.voters at the Nov. 3 election.
—The
HAMILTON COUNTY (P. O. Cincinnati), Ohio—vote on
addi¬
tional
levy—At!the general election in November the voters will be
approvejajspecial levy for 1937 of 1.5 mills to meet an anticipated
deficit of $1,660,000 in general operating funds in that period.
asked to
^Dockland
At
a
district, Ohio—bonds voted—
city school
a proposed bond issue of $55,000 for construction of an
high school building was approved by the voters by 599 to 106.
recent election
addition to
a
LORAIN, Ohio—bond offering— Frank Ayres, City Auditor, will
noon on Nov. 5 for the purchase of $11,500 4%
bonds. Dated Aug. 1, 1936. One bond for $500,
Sept. 15 as follows: $2,000 from 1938 to 1941 incl.
and $3,500 in 1942.
Principal and interest (M. & S.) payable at the office
of the Sinking Fund Trustees.
In naming an interest rate other than 4%,
the bidder will be required to express such other rate in a multiple of 34 of
1%. A certified check for 2% of the bonds bid formust accompany each
proposal.
Legality to be approved by Squire, Sanders & Dempsey of
receive sealed bids until
coupon harbor dredging
others $1,000 each.
Due
Cleveland.
Ohio—plan
MAUMEE,
water
mortgage—Petitions
plant
placed in circulation asking a referendum on Nov. 3 on a proposal
approved by the Village Council to mortgage to municipal water works
system and its earnings to the extent of $40,000 for purpose of improving
the system under a Works Progress Administration project.
The money
would be used to purchase the materials, with the labor to be supplied by
the Government. The proposed mortgage, it is said, will provide that in
case of default of interest or principal, the holders of the encumbrance may
have been
maintain operations. In opposing the plan, Leo
Lipps, former President of Council, declared that for years the Water Works
Department has not been able to meet its obligations and predicted that
the plant would revert to the mortgage holders withing five years after
adoption of the proposal. Current liabilities of the department consist of
$81,000 in general bonds, according to report.
take over the plant and
DAKOTA
CASSELTON TOWNSHIP
DUNBAR TOWNSHIP, Sargent
2411
Chronicle
Columbus), N. Dak.
MILTON-UNION SCHOOL DISTRICT (P. O. West
Milton), Ohio—
approved, by
bonds voted—At an election held on Sept. 22 the voters
804 to 368, a proposition to issue
NEWTON
$135,000 school building bonds.
Ohio—power plant construction en¬
the Public Wq<rks Administration from
municipal power plant was
Wheat in Federal District
FALLS,
—CERTIFICATE OFFERING—Martin
joined—An injunction stopping
ceive bids until 2 p. m. Oct.
indebtedness.
granting $93,000 to the above city for a new
issued on Oct. 3 by Chief Justice Alfred A.
PORTLAND,
N.
Sernsen, District Clerk, will re¬
16 for the purchase of $3,000 certificates of
Dak.—BOND SALE—The $2,500 Issue of drainage
system bonds offered for sale on Oct, 3—V. 143, p. 2094—was purchased by
the First and Farmers National Bank, of Portland, according to the City
Auditor.
No other bid was received.
Court,
according
to
reports from Washington.
The Ohio Public
asked for the injunction on the ground that its
would be jeopardized.
press
Service Co. is said to have
investment in the city
Ohio—bond election—At the general election
$219,OQ0 municipal electric light and
the voters.
of the obligations at prices to yield
.040% to 234%, according to maturity.
The offering consists of;
PORT CLINTON,
in November a proposition to issue
power plant bonds will be submitted to
The bankers made public re-offering
from
IS",0W^00
series 24 bridge bonds, due $100,000
1937 to 1966 incl.
600,000 series 5 park bonds, due $20,000 on
annually on Oct. 1 from
Oct. 1 from 1937 to 1966
incl.
Oct. 1, 1936.
Denom. $1,000. Coupon, regisas to principal only.
Principal and interest (A. & O.) payable at
County Controller's office.
Legality to be approved by Burgwin,
Scully & Churchill of Pittsburgh.
All of the bonds are dated
terable
the
PORTSMOUTH, Ohio—bond sale—The $125,150 refunding bonds
on Oct. 2—V. 143, p. 2095—were awarded to a syndicate composed
& Co., Fox, Einhorn & Co. and Nelson, Browning & Co., all of
offered
OHIO
of Grau
BARNESVILLE, Ohio—BOND SALE—The $5,000 sewer disposaljplant
impt. bonds offfered on Oct. 2—V. 143, p. 2095—were awarded toiFox,
-dSlilhorn & Co. of Cincinnati.
Stiver & Co. of Cleveland.
Nov.
15, 1935.
Second high bm. was submitted by Saunders,
Formal award will be made on Oct. 6.
Dated
Due Nov. 15
follows: $800, 1936 to 1939, andi$900,
as
1940 and 1941.
Premium
Syndicate
Bros.
Stone
P SEVILLE,
Isphording; Widman, Holzman & i\atz; "W. E.
Hutton & Co.; Bankers Trust Co.; Edw. B.
Smith & Co.; Lazard Freres &
Co., Inc.;
Northern Trust Co.; R. W. Pressprich & Co.;
R. L. Day & Co.; Geo. B. Gibbons & Co.;
Stranahan, Harris & Co.; Eldredge & Co.;
Adams, McEntee & Co.; Roosevelt & Son;
TOLEDO, Ohio—placing of bonds outside 10-mill limit
has approved a financing plan for submission
3 which would shift current bond charges outside the 10-mill
limit.
In effect, the action would increase the tax rate approximately
2 mills.
1
jn» John N. Edy, City Manager, said the shifting of charges on $7,736,000
worth of bonds would increase revenues for 1937 by $358,000.
This in¬
crease would more than meet the anticipated deficit of $300,000 in operating
expenses, he said.
The bonds include those maturing between now and 1960.
up to voters—City Council
.
$2,463,961.09
&
WOOD COUNTY (P.
Trust
Co.;
and semi-annual interest (Jan. &
Due $1,500 yearly on Jan.
office.
election
bonds will be placed
O. Bowling Green), Ohio—bond
proposition to issue $82,000 emergency poor relief
general election on Nov. 3.
Starkweather &
OKLAHOMA
v
Okla.—bonds not sold—The $40,000 issue of
waterworks extension bonds offered on Oct. 6—V. 143, p. 2251—was not
sold as no bids were received, according to the City Clerk.
Due $2,000
yearly from Oct. 1, 1939 to 1958, inclusive.
BARNSDALL,
2,533,973.59
cation, will receive bids
f
NO. 20 (P. O. Bluejacket),
G. Davis, Clerk of the Board of Edu¬
BLUEJACKET SCHOOL DISTRICT
Okla.—bond offering—Floyd
than par of
until 2 p. m. Oct. 19 for the purchase at not less
$10,000 school building bonds, which are to
bear interest at
named by the successful bidder. Due $600 yearly beginning five years
after date of issue, except that the last instalment is $1,000. Certified check
Gold¬
Sachs & Co., L. F. Rothschild & Co.;
F. S. Moseley & Co.; Paine, Webber & Co.;
Kelly, Richardson & Co., Inc.; First Of Mich¬
igan Corp.; Reynolds & Co.; Hayden, Miller &
Co.; Mitchell, Herrick & Co.; McDonaldCoolidge & Co.—$475,000@2M%, int. pay.,
$147,843.75; $275,000@2M %, int. pay., $85,593.75; $250,000@2M %, int. pay., $77,812.50;
$4,595,000@234 %, int. pay., $2,240,062.50-
rate
for 2%
of amount of bid required.
that the $32,000 water
by the voters on Aug. 27—V. 143, p. 1275—were
by R. J. Edwards, Inc., of Oklahoma City, as 4Ms
CHELSEA, Okla.—bonds sold—It is reported
plant bonds approved
purchased on Sept. 23
and 5s.
11,190.00
2,540,122.50
CRESCENT, Okla.—bond offering—O. E. Webster, Town Clerk,
bids until 8 p. m. Oct. 12 for the purchase at not less than
will receive
Ear of $27,000 municipal gas bonds. Bidders are to name ratethat int.
>ue $3,500 yearly, beginning three years from date of issue, except
of the
Halsey, Stuart & Co., Inc.; Bancamerica-Blair
Corp.; Graham, Parson & Co.; Darby & Co.,
Inc.; Shields & Co.; Dick & Merle-Smith;
Spencer, Trask & Co.; B. J. Van Ingen & Co.,
Inc.; Kean, Taylor & Co.; Marine Trust Co. of
Buffalo; Bacon, Stevenson & Co.; Otis & Co.,
Inc.; Burr & Co., Inc.; Morse Bros. & Co.,
Inc.; Schoellkopf, Hutton & Pomeroy, Inc.;
Schaumber,
Rebhann
&
Lynch;
Schlater,
Noyes & Gardner, Inc.; First Cleveland Corp.;
Campbell, Phelps & Co., Inc.; Charles H.
Newton & Co., Inc.—$475,000@2M %, int.
pay., $147,843.75; $275,000@234 %, int. pay.,
$85,593.75; $250,000@234%, int. pay., $77,812.50; $4,595,000@234%, int. pay., $2,240,-
Ohio—bond sale—The State Teachers' Retirement
purchased an issue of $15,000 5% sewer bonds.
Denom.
before the voters at the
man,
062.50
WILLARD,
Fund recently
$500.
Dated July 1, 1936.
Principal
July) payable at the Village Treasurer's
1 from 1938 to 1947.
—A
-
Bank
works
par
to voters Nov.
National City Bank of New York;
cantile-Commerce
Ohio—bond sale—The $12,000 4% coupon water
bonds offered on Oct. 3—V. 143, p. 2095—were awarded
and accrued interest to the Seville State Bank, the only bidder.
Dated May 1, 1936 and due $500 on May 1 from 1938 to 1961 incl.
J
Co.; Wells-Dickey & Co.; Braun, Bosworth &
Co.; Hawley, Huller & Co.; Watling, Lerchen
& Hayes, and Johnson, Kase & Co.—$475,000
@2U%, int. pay., $147,843.75; $275,000®
2H %, int. pay., $85,593.75; $250,000@2M %
int. pay., $77,812.50; $4,595,000@2M%, int.
pay., $2,240,062.50
17,338.91
First Boston
Corp.; Brown Harriman & Co., Inc.; Blyth &
Co., Inc.; Harris Trust & Savings Bank; Mer-
j
mortgage revenue
at
Fifth-Third Union Trust Co.; Van Lahr, Doll &
Bank;
1937.
1936.
Denoms. to be fixed by the Director
and Audits, at whose office both principal and A. & O. interest
will be paid.
Kidder, Peabody & Co.; Eastman, Dillon &Co.; Hemphill, Noyes & Co., all of New York;
Cassatt & Co., Philadelphia; Manufacturers &
Traders Trust Co., Buffalo: E. H. Rollins &
Sons, New York; R. H. MoultOn & Co., San
Francisco: A. O. Allyn & Co., Inc., New York;
Equitable Securities Corp., Nashville; Law¬
rence Stern & Co., Chicago; Newton, Abbe &
Co., Boston; Hannahs, Ballin & Lee, New
York; Fox, Einhorn & Co., Cincinnati; Stern
—Bros. & Co., Kansas City, Mo.; A. E. Aub &———
Co., Cincinnati, and Kalman & Co., St. Paul—
—$475,000@3M%, int. pay., $213,552.10;
$275,000@3M%,
int.
pay.,
$123,635.41;
$250,000@3M%,
int.
pay.,
$112,395.83;
$4,595,000(s>234 %. int. pay.", $2,016,056.25— $1,678.50
Natjpnal
be refunded mature Jan. 1,
Each issue is dated Nov. 1,
of Finance
Webster and Blodget,
&
the limit.
44,800 property owners' portion bonds as 3s, at a premium of $40.32,
equal to 100.9, a basis of about 2.99%.
Due Oct. 1 .as follows:
$4,800 in 1943 and $5,000 from 1944 to 1951, incl.
The bonds to
Net Cost
Inc., Phelps, Fenn & Co.; Estabrook & Co.;
Boatmen's
limitation and $6,000 within
f
|L> CINCINNATI, Ohio—BIDS RECEIVED—The following is a complete
list of the bids received for the $5,595,000 coupon bonds which were awarded
on Sept. 29 to the syndicate neaded by Lehman Bros, of New York:
Lehman
Cincinnati, as follows:
$80,350 city's portion bonds as 334s, at a premium of'$72.32, equal to
100.09, a basis of about 3.24%.
Due Oct. 1 as follows: $8,350 in
1943 and $9,000 from 1944 to 1951 incl.
The bonds to be refunded
7"
mature Jan.T, 1937 and include $74,350 issued outside the 10-mill
L«
last instalment
of bid,
is to amount to $2,500.
Certified check for 2% of amount
required.
GOLTRY, Okla.—bonds not sold—The $15,000 issue of water
Sept. 8—V. 143, p. 1444—wJS not sold, it is stated by
Town Clerk.
Due $1,800 three years from date of issue, and $600
yearly thereafter.
•
n »
'
bonds offered on
the
Oklahoma,
state
of—way cleared for highway note
proposed Dec. 15 call
redemption—Further opening the way for the
$4,470,000 of Oklahoma treasury notes for redemption, Attorney General
Mac Q. Williamson at Oklahoma City has held that while the State School
Land Commission has authority to purchase notes of the issue for invest¬
ment, the State Treasurer does not have authority to call notes for resale
of
6,098.55
2,545,213.95
to the Commission.
.
.
Financial
2412
Chronicle
The opinion apparently clears the way
for the proposed call in that it is
regarded as blocking efforts of the Marland administration to obtain for the
State highway commission any surplus in the note redemption account.
The note issue
authorized in
was
HARRISBURG,
emergency improvements,
HOLLIDAYSBURG SCHOOL DISTRICT, Pa.—BOND SALE—The
$135,000 coupon high school bonds offered on Oct. 5—V. 143, p. 2251—
awarded to Yarnall & Co. and W. H. Newbold's Son & Co., both of
Philadelphia, on their joint bid of 100.537 for 294s.
The bonds are dated
Sept. 1, 1936 and mature Sept. 1 as follows:
$5,000, 1941 to 1943 incl.; $6,000, 1944 to 1949 incl.; $7,000, 1950 to
1954 incl.; $8,000 from 1955 to 1959 incl. and $9,000 in I960.
Redeemable
on any interest payment date on and after Sept. 1,1941.
Public re-offering
is being made by the Successful bidders at a price of 102, to yield
2.30% to
callable date and 2.75% thereafter.
STILLWATER, Okla.—BONDS CALLED—H. J. Nestor, Commissioner
LEWISTOWN
SCHOOL
DISTRICT,
Pa.—BOND
OFFERING—
Ulsh, District Secretary, will receive sealed bids until 8.30 p. m.
19 for the purchase of $200,000 2, 234, 234, 2%, 3, 334 or 334%
coupon, registerable as to prin. only, school bonds.
Dated Nov. 1, 1936.
Denom. $1,000.
Due Nov. 1 as follows: $6,000 from 1937 to 1946, incl.,
and $7,000 from 1947 to 1966, incl.
Int. payable M. & N.
A certified
check for 2% of the bonds bid for, payable to the order of the District
Treasurer, must accompany each proposal.
The bonds will be issued sub¬
ject to favorable legal opinion of Townsend, Elliott & Munson of Phila¬
delphia".
F.
bids received
were
Oct. 7—V.
on
rejected,
143, p. 2251—was not sold
-
4
bids will be received
RE-OFFERED— Sealed
BONDS
until Oct. 21 by
City Clerk, for the purchase of the above bonds. Bidders
the rate of interest.
Due $1,000 from 1939 to 1947 incl.
Ennis Tyson,
are
to name
W.
on
WAURIKA, Okla.—BONDS NOT SOLD—The $9,000 issue of "water
all
OFFERING— On Nov. 10 the Finance
an issue of $250,000 short-term bonds for city
mainly street resurfacing.
were
of Revenue and Accounting, is said to have called for payment on Sept. 30,
on which date interest ceased, various paving bonds totaling $15,625.
as
1936
10,
Pa.—BOND
Director will offer for sale
1933 to refinance the general revenue
deficit and 40% of the State's share of gasoline tax was assigned to the
sinking fund.
One effect of the diversion was to create a highway com¬
mission deficit, and Governor E. W. Marland has favored use of the note
redemption fund surplus to pay this deficit.
Should this plan be adopted,
the retirement of notes would be maintained at the original schedule.
As planned by State Treasurer H. L. Bolen, however, retirement of the
note issue, originally at approximately $13,000,000, would be completed in
June 1937, or 18 months ahead of schedule.
works extension bonds offered
Oct.
Oct.
OAKDALE, Pa.—BOND SALE—The issue of $13,000
coupon
bonds
offered
on Oct. 5—V. 143, p. 1920—was awarded to S. K. Cunningham &
Co. of Pittsburgh as 3s, at par plus a premium of $147, equal to 101.13,
a basis of about 2.'83%.
Dated Oct. 1, 1936, and due Oct. 1 as follows:
Oregon Municipals
$1,000, 1939 to 1943 incl.; $2,000 in 1944 and $3,000 in 1945 and 1946.
PENNSYLVANIA
(State
of)—LOCAL
ISSUES APPROVED—Tpe
following bond issues have been approved by the Department of Internal
CAMP & CO., INC.
Porter Building*
Affairs, Bureau of Municipal Affairs.
The information includes the name
of the municipality, amount and purpose of issue and date of approval:
Portland, Oregon
Date
OREGON
LANE COUNTY SCHOOL DISTRICT NO. 71 (P. O. Lowell), Ore.
WARRANT SALE—The $2,500 warrants offered for sale on Sept. 25—
V. 143, p. 2095—were purchased by Tripp & McCleary, of Portland, as
»3Ms, it is stated.
—
MONMOUTH,
Ore—BOND SALE—The
bonds offered for sale
$60,000
issue
of refunding
Oct. 2—V.
143, p. 2251—was awarded jointly to
Tripp & McCleary, and Baker, Fordyce & Co., both of Portland, as 4J4s
at par.
Due $4,000 from Oct. 1, 1939 to 1953, subject to call on Oct. 1,
1946.
No other bids were received, according to the City Treasurer.
on
$500,000 City of Philadelphia
3K%
Price:
Bonds
106.778
July 1,
due
&
Interest
to
Locust Street
2.80%
Philadelphia
PENNSYLVANIA
ALLEGHENY
COUNTY
(P.
O.
Pittsburgh),
Pa.—BOND SALE—
The $3,000,000 series 24 bridge and
$600,000 series 5 park bonds, which
offered on October 5—V. 143. p. 2096—were awarded to a
were
syndicate
headed
by Brown Harriman & Co., Inc., of New York and including
Graham, Parsons & Co., New York, the Peoples-Pittsburgh Trust Co.,
Pittsburgh, Yarnall & Co., Cassatt & Co., Kidder, Peabody & Co., E. H.
Rollins & Sons, W. H. Newbold's Son & Co. and R. W.
Pressprich & Co.,
Philadelphia. The group bid $3,622,968, equal to 100.638. The bonds are
being reoffered to investers at prices to yield from .40% to 2.25%.
Dated
Oct. 1, 1936.
real estate and personal property was
$2,410,552,347, compared with $2,327,224,021 in 1935.
The real estate assessment in 1936 was
$1,796,265,622, compared with
$1,801,003,256 in 1935, and the personal property assessment was $614,286,725, compared with $526,220,765.
The county tax rate for 1936 had been set
of $1,795,000,000 and
personal
The
statement
on
county
indebtedness
on
an
estimated real estate
property
follows:
of $575,000,000.
PITTSBURGH, Pa.—BOND ELECTION—At the gerferal election
following is
i,
•
an
SCHOOL
DISTRICT,
Pa.—OTHER
BIDS—The
official account of the other bids submitted for the $1,000,000
were awarded on Sept. 22 to the Union Trust Co. of
234s, at a price of 101.209, a basis of about 2.16%.—V. 143,
Pittsburgh
p. 2096.
as
Moncure Biddle &
Co.; Janney & Co. and C. F. Childs & Co., Phila.;
34 %o Plus a premium of $12,000.
Ipc., Philadelphia, headed a syndicate bidding a
rate of 234 % at a premium of $10,988.
Phelps, Fenn & Co., N. Y. and associate bid a rate of 2 34% at $1,008,876.
bid
a
E.
rate of 2
The
a
Rollins & Sons,
H.
First
rate of 2
National
34 % and
Bank
at
a premium
Pittsburgh, representing
premium of $6,786.
Graham, Parsons &
syndicate,
a
bid"
of $7,190.
Y. and associate bid
a
rate of 2 34% and
Co., Philadelphia; The First Boston Corp., N. Y.
Pittsburgh, bid a rate of 2)4, % and a prem¬
and Singer, Deane & Scribner,
ium of $6,698.
1,162,297.93
389,835.26
at
Brown
Harriman &
Co., Inc., N. Y. and associates bid
a
rate of
234%
$1,006,198.
LChman Brothers and associates bid
a
rate of
234% and
a
premium of
$3,000.
$115,267,392.29
fun^.! l?..!ll.„.
$15,421,848.91
2,935,743.44
1,143,853.26
6,013,632.84
948,162.43
Cash in emergency sinking fund No. 2
All other cash
Outstanding solvent debts
for
the
year—applicable to reduction
of above debt
3,361,061.65
Uncollected delinquent taxes pledged to emergency sinking
funds
The Peoples-Pittsburgh Trust Co. headed a syndicate bidding a rate of
2)4. % and a premium of $2,090.
The National City Bank of New York and syndiate bid a rate of
2)4%
and a premium of $1,500.
Goldman, Sachs & Co., N. Y. and syndicate bid for 2)4% bond at a
premium of $890.
Halsey Stuart & Co., Inc., N. Y. and associates bidding for 234 s offered
a premium of $23,680.
Blyth & Co., Inc., N. Y. and syndicate bid a rate of 2)4 % and a premium
of $22,301
The Bankers Trust Co., N. Y. and Edward B. Smith & Co., N. Y., bid
4,420,403.30
a
Total offsetting assets
Net debt
$34,244,705.83
81,022,686.46
Proposed issue of park bonds. Series 5, $600,000, included, but not
proposed bridge bonds. Series 24, $3,000,0^0.
*
BENTLEYVILLE
SCHOOL
DISTRICT, Pa.—BOND SALE— The
$18,000 coupon bonds offered on Oct. 6—V. 143, p. 2096—were awarded
to S. K. Cunningham & Co. of
Pittsburgh as 334s, on a bid of $18,175,
equal to 100.972, a basis of about 3.10%. E. H. Rollins & Sons of Phila¬
delphia offered a premium of $129.60 for 334s. Dated Oct. 1, 1936. Due
Oct, 1 as follows: $1,000. 1937 to 1942, and
$2,000, 1943 to 1948.
BETHLEHEM, Pa.—BOND OFFERING DETAILS—Bertram L. Nagle, 1
City Clerk, will receive sealed bids until 9.30 a. m. on Oct. 15 for the pur¬
chase of $140,000 2% series of 1936 coupon
funding bonds.
Dated Oct. 30,
1936.
Denom. $1,000.
Due $14,000 on Oct. 30 from 1937 to 1946, incl.
Prin. and int. (A. & O.) payable at the
City Treasurer's office or at the
First National Bank & Trust Co., Bethlehem.
A certified check for 2%
of the amount bid, payable to the order of the
city, must accompany each
proposal.
The bonds will be issued subject to approval of the Pennsyl¬
vania Department of Internal Affairs.
^
(This report of the offering supersedes that given in a previous issue.)
FREEBURG SCHOOL DISTRICT (P. O.
Freeburg), Pa .—PRICE
PAID—The district received a price of par for the $11,000 3% bonds
awarded on Sept. 25 to the Freeburg State Bank of
Freeburg, the only
bidder.—V.
143, p. 2251.
FOUNTAIN HILL SCHOOL DISTRICT
(P. O. Bethlehem), Pa.—
BOND OFFERING—Geo. W. Stehly, District
Secretary, will receive bids
at 1055 Seneca St.,
Bethlehem, until 8 p. m. Oct. 22, for the purchase
of $110,000 coupon school
building bonds, to bear int. at 2%, 234%, 234%,
294%, 3%, 334%. 334%, 394% or 4%, as determined by the bidding.
Denom. $1,000.
Int. payable semi-annually, May 1 and Nov. 1.
Due
as follows: $5,000
1946, 1948, 1949, 1951, 1954, 1956, 1957 and 1958; and
$10,000, 1959, 1960, 1961, 1962, 1964, 1965 and 1966.
Certified check for
2%, required.
The bonds will be dated Nov.
1, 1936, and issued subject to approving
legal opinion of Townsend, Elliott & Munson of Philadelphia.
on
school bonds which
a
Bonds and cash in sinking
Cash in emergency sinking fund No. 1
revenue
30,000
Nov. 3 the voters will be asked to approve an issue of $5,000,000 general
municipal improvement bonds.
Notice of the election states that the
assessed valuation of taxable property in the city is $1,212,425,580, and the
amount of existing debt, $59,073,068.04.
600,000.00
2,074,293.70
1.997,965.40
Gross debt
Estimated
20,000
the payment was made.
$109,043,000.00
Accrued interest to Aug. 31, 1936
Miscellaneous accounts payable
59,000
the payment of municipal payrolls and other civic requirements.
Shortly
following Mr. McNair's resignation, the City Council held a special meeting
and designated Cornelius D. Scully, their President, as the new incumbent.
The latter will finish out Mr. McNair's term, wnich ^vould have expired
on Jan. 1, 1938.
Mr. Scully's first act was to reappoint James P. Ki^k,
the City Treasurer whose dismissal led to Mr. McNair's Ultimate resigna¬
tion. Mr. McNair had been in constant disagreement with the City Coun¬
cil, particularly during the past year. He caused a technical default by the
city on a small sum of bond interest due June 1, 1936, by his refusal to sign
the warrant necessary to permit the disbursement of the funds which were
already available to meet the charges. He later signed the warrant and
Lazard Freres & Co., Inc., N.
Debt
♦Bonds issued and
outstanding
Mortgage payable
Uncompleted contracts
Unpaid damages
a
30,000
PITTSBURGH
Combined assessed valuation of
assessment
25,000
40,000
_
Due^serially on Oct. 1 from 1937 to 1966.
A financial statement of
Allegheny County, as of Aug. 31, 1936, issued
the County Commissioners, disclosed an increase in 1936
property
valuation was due entirely to a
higher level of personal property subject
to taxation.
by
„
$25,000
Pa.—MAYOR
McNAIR
RESIGNS—SUCCESSOR
NAMED—Mayor William C. McNair resigned the office on Oct. 6 as a
result of a dispute arising out of the failure of the City Council to confirm
his appointee for the office of City Treasurer.
Refusal of Council to approve
his choice left the city without a Treasurer, the Absence of which prevented
Moncure Biddle & Co.
1520
Amount
PITTSBURGH,
1986/56
Net
»
Municipality and Purpose—
Approved
Ashley Borough School District, Luzerne County—
Payment of operating expenses
Sept. 28
Northumberland Borough, Northumberland County—
Paving and improving streets, together with the
necessary drainage facilities
Sept. 28
Coplay Borough, Lehigh County—Paving of streets.
Sept. 29
Fell Township Poor District, Lackawanna County—
Funding floating indebtedness
Sept. 29
London
Grove
Township School District, Chester
County—Refunding bonded indebtedness
Sept. 29
North Versailles Township School District, Allegheny
County—Repairing,
equipping
and
furnishing
school buildings
Sept. 29
Whitehall Township, Lehigh County—Funding float1
ing indebtedness
Oct. 2
rate of
2)4% and
a
premium of $21,091.
PLAINS SCHOOL DISTRICT, Luzerne County, Pa.—BOND SALE
District has sold $25,000 bonds to the Plymouth National Bank,
—The
Plymouth.
READING
coupon
SCHOOL
DISTRICT, Pa.—BOND SALE—The $250,000
school bonds offered
on
Oct.
6—V.
143,
p.
2252—were awarded
to the First Boston
Corp., Philadelphia, as 134s, at a price of 100.2606, a
basis of about 1.16%.
W. H. Newbold's Son & Co. of Philadelphia bid
100.2266 for 134s. Dated Oct. 1, 1936. Due $50,000 on Oct. 1 from 1937
to 1941, incl.
The Department of Municipal Administration, recently established by
Dougherty, Corkran & Co. of Philadelphia, for the purpose of analysing
the financial condition of prospective issuers of municipal bonds,
has just
completed its initial report, which pertains to the offering by the School
District on Oct. 6 of $250,000 not to exceed 2)4% int. impt. bonds of
1936.
The report, which was prepared under the direction of Ellsworth O.
Palmer, C. P. A., is based upon information obtained from an examination
of the records of the School District and from other official and unofficial
sources,
which the compilers deemed reliable.
taken from
The data herewith have been
the report:
Financial Statement {As of Sept.
(Adjusted to reflect
15, 1936)
the issuance of these bonds)
Assessed valuation, 1936
Total bonded debt, including this issue
$170,141,314.00
7,156,500.00
—N
Less—Sinking funds (cash) ($217,288.07); other deductions
allowed by law ($729,580.74)
Net bonded debt
Ratio of net bonded debt to assessed valuation
946,868.81
$6,559,631.19
-
3.85%.
Floating debt^none.
Population: 1920 U. S. census,
(estimated), 114,000.
107,784;
1930,
U.
S.
census,
111,171;
1936
The above statement does
divisions
having
the power
within the School District.
not
to
include the debt of other political sub¬
levy
taxes
against
the taxable
property
.
Financial
2412
The opinion apparently clears the way for the proposed call in that it is
regarded as blocking efforts of the Marland administration to obtain for the
State highway commission any surplus in the note redemption account.
The note issue was authorized in 1933 to refinance the general revenue
deficit and 40% of the State's share of gasoline tax was assigned to the
sinking fund.
One effect of the diversion was to create a highway com¬
W. Marland has favored use of the note
redemption fund surplus to pay this deficit.
Should this plan be adopted,
the retirement of notes would be maintained at the original schedule.
As planned by State Treasurer H. L. Bolen, however, retirement of the
note issue, originally at approximately $13,000,000, would be completed in
June 1937, or 18 months ahead of schedule.
mission deficit, and Governor E.
STILLWATER, Okla.—BONDS CALLED—H. J. Nestor, Commissioner
of Revenue and Accounting, is said to have called for payment on Sept. 30,
on which date interest ceased, various paving bonds totaling $15,625.
Okla.—BONDS NOT SOLD—'The $9,000 issue of*wate?
extension bonds offered on Oct. 7—V. 143, p. 2251—was not sold
bids received were rejected.
WAURIKA,
works
all
as
BONDS RE-OFFERED—Sealed bids will be received until Oct. 21 by
Ennis Tyson, City Clerk, for the purchase of the above bonds.
Bidders
are to name the rate of interest.
Due $1,000 from 1939 to 1947 incl.
Chronicle
Oct.
HARRISBURG,
Pa.—BOND
Director will offer for sale
emergency improvements,
OFFERING— On Nov.
10 the Finance
an issue of $250,000 short-term bonds for city
mainly street resurfacing.
HOLLIDAYSBURG SCHOOL DISTRICT, Pa.—BOND SALE—The
$135,000 coupon high school bonds offered on Oct. 5—V. 143, p. 2251-awarded to Yarnall & Co. and W. H. Newbold's Son & Co., both of
Philadelphia, on their joint bid of 100.537 for 254s.
The bonds are dated
Sept. 1,1936 and mature Sept. 1 as follows:
$5,000, 1941 to 1943 incl.; $6,000, 1944 to 1949 incl.; $7,000, 1950 to
1954 incl.; $8,000 from 1955 to 1959 incl. and $9,000 in I960.
Redeemable
on any interest payment date on and after Sept. i, 1941.
Public re-offering
is being made by the successful bidders at a price of 102, to yield 2.30% to
callable date and 2.75% thereafter.
were
LEWISTOWN
F.
W.
on
Oct.
SCHOOL
DISTRICT,
OFFERING—
Pa .—BOND
District Secretary, will receive sealed bids until 8.30 p. m.
234. 254, 3, 334 or 334%
coupon, registerable as to prin. only/school bonds.
Dated Nov. 1, 1936.
Denom. $1,000.
Due Nov. 1 as follows: $6,000 from 1937 to 1946, incl.,
and $7,000 from 1947 to 1966, incl.
Int. payable M. & N.
A certified
check for 2% of the bonds bid for, payable to the order of the District
Treasurer, must accompany each proposal.
The bonds will be issued sub¬
ject to favorable legal opinion of Townsend, Elliott & Munson of Philar
delphia.
1
Ulsh,
19 for the purchase of $200,000 2, 234,
.
,
OAKDALE, Pa.—BOND SALE—The issue of $13,000
1
l
basis of about 2.83%.
Dated Oct. 1, 1936, and due Oct. 1 as follows:
$1,000, 1939 to 1943 incl.; $2,000 in 1944 and $3,000 in 1945 and 1946.
a
PENNSYLVANIA
(State of)—LOCAL ISSUES APPROVED—The
following bond issues have been approved by the Department of Internal
Affairs, Bureau of Municipal Affairs.
The information includes the name
of the municipality, amount and purpose of issue and date of approval: ^
Portland, Oregon
Building^
Date
OREGON
LANE COUNTY SCHOOL DISTRICT NO. 71 (P. O. LoVell), Ore.
WARRANT SALE—The $2,500 warrants offered for sale on Sept. 25—
V. 143, p. 2095—were purchased by Tripp & McCleary, of Portland, as
—
354s, it is stated.
MONMOUTH,
Ore.—BOND SALE—The
bonds offered for sale
$60,000
issue
of refunding
Oct. 2—V.
143, p. 2251—was awarded jointly to
Tripp & McCleary, and Baker, Fordyce & Co., both of Portland, as 434s
at par.
Due $4,000 from Oct. 1, 1939 to 1953, subject to call on Oct. 1,
1946.
No other bids were received, according to the City Treasurer.
on
$500,000 City of Philadelphia
334%
Price:
Bonds
106.778
July 1,
due
&
Interest
to
2.80%
Moncure Biddle & Co.
1620
Locust Street
Philadelphia
PENNSYLVANIA
ALLEGHENY
COUNTY
(P.
O.
Pittsburgh),
Pa .—BOND SALE—
The $3,000,000 series 24 bridge and $600,000 series 5
park bonds, which
were offered on October 5—V. 143.
p. 2096—-were awarded to a syndicate
headed
by Brown Harriman & Co., Inc., of New York and including
Graham, Parsons & Co., New York, the Peoples-Pittsburgh Trust Co.,
Pittsburgh, Yarnall & Co., Cassatt & Co., Kidder, Peabody & Co., E. H.
Rollins & Sons, W. H. Newbold's Son & Co. and R. W.
Pressprich & Co.,
The group bid $3,622,968, equal to 100.638.
Philadelphia.
The bonds are
being reoffered to investors at prices to yield from .40% to 2.25%.
Dated
Oct. 1, 1936.
Due serially on Oct. 1 from 1937 to 1966.
A financial statement of Allegheny
County, as of Aug. 31, 1936, issued
the County Commissioners, disclosed an increase in 1936 property
valuation was due entirely to a higher level of
personal property subject
to taxation.
Combined assessed valuation of real estate and personal property was
by
$2,410,552,347, compared
with $2,327,224,021 in 1935.
The real estate assessment in 1936 was
$1,796,265,622, compared with
$1,801,003,256 in 1935, and the personal property assessment
286,725, compared with $526,220,765.
was
$614,-
The county tax rate for 1936 had been set on an estimated real estate
assessment of $1,795,000,000 and personal
property of $575,000,000.
The
statement
on
indebtedness
county
follows:
Debt
♦Bonds issued and outstanding...
Mortgage payable
Uncompleted contracts
Unpaid damages. ___r__
$109,043,000.00
600,000.00
2,074,293.70
1,997,965.40
1,162,297.93
*
389,835.26
1
Accrued interest to Aug. 31, 1936
Miscellaneous accounts payable
Gross debt
„
....$115,267,392.29
Offsetting Assets
,
Bonds and cash in sinking funds
Cash in emergency sinking fund No. 1
Cash in emergency
All other cash
$15,421,848.91
2,935,743.44
1,143,853.26
6,013,632.84
948,162.43
sinking fund No. 2
Outstanding solvent debts
Estimated
revenue
for
the
year—applicable to reduction
of above debt
Uncollected delinquent taxes pledged to emergency sinking
funds
Municipality and Purpose—
Approved
Ashley Borough School District, Luzerne County—
Payment of operating expenses
Sept. 28
Northumberland Borough, Northumberland County—
Paving and improving streets, together with the
necessary drainage facilities
Sept. 28
Coplay Borough, Lehigh County—Paving of streets..
Sept. 29
Fell Township Poor, District, Lackawanna County—
Funding floating indebtedness
Sept. 29
London Grove Township
School District, Chester
County—Refunding bonded indebtedness
Sept. 29
North Versailles Township School District, Allegheny
County—Repairing,
equipping
and
furnishing
school buildings
Sept. 29
Whitehall Township, Lehigh County—Funding float¬
ing indebtedness
i
Oct. 2
PITTSBURGH,
1986/56
Net
3,361,061.65
4,420,403.30
$34,244,705.83
81,022,686.46
♦Proposed issue of park bonds, Series 5, $600,000, included, but not
proposed bridge bonds. Series 24, $3,000,0r>0.
SCHOOL
Pa.—BOND
SALE—The
coupon bonds offered on Oct. 6—V. 143, p. 2096—were awarded
S. K. Cunningham & Co. of Pittsburgh as
334s, on a bid of $18,175,
equal to 100.972, a basis of about 3.10%. E. H. Rollins & Sons of Phila¬
delphia offered a premium of $129.60 for 334s. Dated Oct. 1, 1936. Due
Oct. 1 as follows: $1,000, 1937 to 1942, and $2,000, 1943 to 1948.
BETHLEHEM, Pa.—BOND OFFERING DETAILS—Bertram L." Nagle,
City Clerk, will receive sealed bids until 9.30 a. m. on Oct. 15 for the pur¬
chase of $140,000 2% series of 1936 coupon
funding bonds.
Dated Oct. 30,
1936.
Denom. $1,000.
Due $14,000 on Oct. 30 from 1937 to 1946, incl.
Prin. and int. (A. & O.) payable at the City Treasurer's office or at the
First National Bank & Trust Co., Bethlehem.
A certified check for 2%
of the amount bid, payable to the order of the
city, must accompany each
proposal.
The bonds will be issued subject to approval of the Pennsyl¬
vania Department of Internal Affairs.
(This report of the offering supersedes that given in a previous issue.)
FREEBURG SCHOOL DISTRICT (P. O. Freeburg), Pa .—PRICE
PAID—The
awarded
on
bidder.—V.
district
received
price of par for the $11,000 3% bonds
Sept. 25 to the Freeburg State Bank of Freeburg, the only
143, p. 2251.
a
FOUNTAIN HILL SCHOOL DISTRICT (P. O. Bethlehem), Pa.—
BOND OFFERING—Geo. W. Stehly, District Secretary, will receive bids
at 1055 Seneca St., Bethlehem, until 8 p. m. Oct.
22, for the purchase
of $110,000 coupon school
building bonds, to bear int. at 2%, 234%, 234%,
254%. 3%, 334%, 3>4%, 3%7 or 4%, as determined by the bidding.
Denom. $1,000.
Int. payable semi-annually, May 1 and Nov. 1.
Due
as follows: $5,000
1946, 1948, 1949, 1951, 1954, 1956, 1957 and 1958: and
$10,000, 1959, 1960, 1961, 1962, 1964, 1965 and 1966.
Certified check for
2%, required.
The bonds will be dated Nov. 1, 1936, and issued subject to
approving
legal opinion of Townsend, Elliott & Munson of Philadelphia.
$25,000
25,000
40,000
30,000
59,000
20,000
30,000
Pa.—MAYOR
the payment was made.
PITTSBURGH, Pa.—BOND ELECTION—At the general elation
on
Nov. 3 the voters will be asked to approve an issue of $5,000,000 general
bonds.
Notice of the election states that the
municipal improvement
assessed valuation of taxable property in the
amount of existing debt, $59,073,068.04.
PITTSBURGH
following is
school
an
SCHOOL
city is $1,212,425,580, and the
DISTRICT.
Pa.—OTHER
BIDS—The
official account of the other bids submitted for the $1,000,000
were awarded on Sept. 22 to the Union Trust Co. of
234s, at a price of "'.01.209, a basis of about 2.16%.—V. 143,
bonds which
Pittsburgh
2096.
as
p.
♦
Moncure Biddle &
Co.; Janney & Co. and C. F. Childs & Co., Phila.;
234 % Plus a premium of $12,000.
E. H. Rollins & Sons, Inc., Philadelphia, headed a syndicate bidding a
rate of 234 % at a premium of $10,988.
Phelps, Fenn & Co., N. Y. and associate bid a rate of 234% at $1,008,876.
The First National Bank at Pittsburgh, representing a syndicate, bid
a rate of 234 % and a premium of $7,190.
Lazard Freres & Co., Inc., N. Y. and associate bid a rate of 234% and
a premium of $6,786.
Graham, Parsons & Co., Philadelphia; The First Boston Corp., N. Y.
and Singer, Deane & Scribner, Pittsburgh, bid a rate of 234 % and a prem-'
bid
a
rate of
-ium of
$6,698.
Brown
at
Harriman &
Co., Inc., N. Y. and associates bid
a
rate of
234%
$1,006,198.
Lehman Brothers and associates bid a rate of 2 34 % and a premium of
$3,000.
The Peoples-Pittsburgh Trust Co. headed a syndicate bidding a rate of
234 % and a premium of $2,090.
,
Tne National
City Bank of NewYork and syndiate bid
and
a premium of $1,500.
Goldman, Sachs & Co.,
premium of $890.
a rate of
234%
Y
'
N. Y.
and syndicate bid for 234%
bond at
a
Halsey Stuart & Co., Inc., N. Y. and associates bidding for 2>4s offered
a premium of $23,680.
Blyth & Co., Inc., N. Y. and syndicate bid a rate of 234% and a premium
of $22 301
^
The Bankers Trust Co., N. Y. and Edward B. Smith & Co.. N. Y., bid
a rate of 2
34 % and a premium of $21,091.
PLAINS SCHOOL DISTRICT,
—The
has sold
Luzerne County, Pa.—BOND SALE
$25,000 bonds to the Plymouth National Bank,
SCHOOL
DISTRICT, Pa.—BOND SALE—The $250,000
District
Plymouth.
READING
DISTRICT,
$18,000
to
Amount
McNAIR
RESIGNS—SUCCESSOR
NAMED—Mayor William C. McNair resigned the office on Oct. 6 as a
result of a dispute arising out of the failure of the City Council to confirm
his appointee for the office of City Treasurer. Refusal of Council to approve
his choice left the city without a Treasurer, the absence of which prevented
the payment of municipal payrolls and other civic requirements.
Shortly
following Mr. McNair's resignation, the City Council held a special meeting
and designated Cornelius D. Scully, their President, as the new incumbent.
The latter will finish out Mr. McNair's term, wnich would have expired
on Jan.
I, 1938. Mr. Scully's first act was tq reappoint James P. lvirk,
the City Treasurer whose dismissal led to Mr. McNair's ultimate resigna¬
tion. ■ Mr. McNair had been in constant disagreement with the City Coun¬
cil, particularly during the past year. He caused a technical default by the
city on a small sum of bond interest due June 1, 1936, by his refusal to sign
the warrant necessary to permit the disbursement of the funds which were
already available to meet the charges. He later signed the warrant and
Total offsetting assets
Net debt
BENTLEYVILLE
bonds
•
CAMP & CO., INC.
Porter
coupon
offered on Oct. 5—V. 143, p. 1920—was awarded to S. K. Cunningham &
Co. of Pittsburgh as 3s, at par plus a premium of $147, equal to 101.13,
Oregon Municipals
ii
10, 1936
coupon school bonds offered on Oct. 6—V. 143, p. 2252—were awarded
to the First Boston Corp., Philadelphia, as 134s, at a price of
100.2606, a
basis of about
1.16%.
W. H. Newbold's Son & Co. of Philadelphia bid
Dated Oct. 1, 1936. Due $50,000 on Oct. 1 from 1937
100.2266 for 134s.
1941, incl.
to
6
The Department of Municipal Administration, recently established
by
Dougherty, Corkran & Co. of Philadelphia, for the purpose of analysing
the financial condition of prospective issuers of municipal bonds, has just
completed its initial report, wnich pertains to the offering by the School
District on Oct. 6 of $250,000 not to exceed 234% int. impt. bonds of
1936,
The report, which was prepared under the direction of Ellsworth C.
Palmer, C. P. A., is based upon information obtained from an examination
of the records of the School District and from other official and
unofficial
sources,
which the compilers deemed reliable. The data herewith have been
taken from
the report:
Financial Statement (As of Sept.
15, 1936)
(Adjusted to reflect the issuance of these bonds)
Assessed valuation, 1936
'
$170,141,314 00
Total bonded debt, including this issue
Less—Sinking funds (cash) ($217,288.07); other deductions
allowed by law ($729,580.74)
___
Net bonded debt
Ratio of net bonded debt to assessed valuation
Floating debt,
census,
3.85%.
107,784; 1930, U.
having
the
power
within the School District.
S. census.
Ill 171*
'
above statement does not include the debt
divisions
946,868.81
$6,559 631 19
none.
Population: 1920 U. S.
1936 (estimated), 114,000.
The
7,156 500 00
to
levy
taxes
of other political sub¬
against the taxable property
11993352461--3365742
Volume
I
Year of Levy
$1,826,529.87
1,693,762.72
1,471,130.46
1,520,681.60
1,733,074.35
*1,371,973.17
67.20
669,722.83
%
3.54
6.57
10.78
16.64
13.07
32.80
Tenn —BOND SALE—The $10,000 issue of water works
Dated Oct. 1, 1936.
Due from Oct. 1, 1938 to 1950.
by Gray, Shillinglaw & Co. of Nashville at par, according to the City
Recorder.
Dated Oct. 1, 1936.
Due from Oct. 1, 1938 to 1950.
DAYTON,
„
FAYETTEVILLE, Tenn.—BONDS VOTED—At
voters are said to have
CLAIR SCHOOL DISTRICT, Pa.—BOND SALE—'The $125,000
high school bonds offered on Sept. 25—V. 143, p. 1757—were
and due as follows:
$1,000, 1937 to 1941 incl.; $3,000, 1942 to 1949 incl.;
$7,000, 1950 to 1959 incl.; $6,000, 1960; $5,000. 1961; $3,000 from 1962 to
1966 incl.
*
SCOTT
TOWNSHIP
SCHOOL DISTRICT,
Allegheny County,
Pa.—BOND SALE—The $35,000 coupon bonds offered on Sept. 29—V.
143, p. 1921—were awarded to Singer, Deane & Scribner of Pittsburgh as
2%s, at a premium of $251.51, equal to 100.718, a basis of about 2.62%.
Due $5,000 yearly on Sept. 1 from 1939 to 1945, inch
Other bidders were:
Name—
Leach Bros., Philadelphia
Stroud & Co., Philadelphia
Glover MacGregor, Pittsburgh
PremiumJOffered
$108.50
161.65
222.00
S. K, Cunningham & Co., Pittsburgh
E. H. Rollins & Sons, Philadelphia
TOWNSHIP
196.00
276.50
(P.
O.
-
Treveskyn),
Interest Rate
3%
3M%
3%
2M%
--..3%
Pa.—BOND
OFFERING—John T. Patterson, Secretary of Township Board, will receive
bids until 8 P. M. Nov. 5 for the purchase of $25,000 bonds.
Bidders to
name rate of interest, in a
multiple of M%, but not over 4%.
Denom.
$1,000.
Dated Nov. 1, 1936.
Due on Nov. 1 as follows:
$1,000 1937 to
1941; and $2,000 1942 to 1951.
Cert, check for $1,000, required.
MEMPHIS, Tenn.—APPEAL TO BE TAKEN TO SUPREME COURT
MUNICIPAL POWER PROJECT—In a further effort to block the
$9,000,000 project of the above city to construct and operate a municipal
electric power system in co-operation with the Tennessee Valley Authority,
the Memphis Power & Light Co. will appeal to the State Supreme Court
from the decision of Chancellors John Sweptson and Louis Bejach denying
an injunction to restrain the
city.
3
In two referendum elections, the city has received authority to issue
$9,000,000 of bonds to finance the proposed system, and a $300,000 note
issue was recently sold to three Memphis banks to provide funds for the
first construction.
The litigation, however, does not involve validity of Federal statutes
relative to loans and grants of the Public Works Administration.
In opposing the project, the Memphis Power & Light Co. raised the
.
issue of sovereignty and also
Federal Government.
WHITEHALL TOWNSHIP (P. O.
a
conspiracy between the city and
MEMPHIS, Tenn.—NOTE SALE DETAILS—In connection with the
$300,000 temporary improvement notes to a syndicate headed
by the National Bank or Commerce, of Memphis, at 1%, as noted here
recently—V. 143, p. 2252—it is stated by D. C. Miller, City Clerk, that,
the notes mature in one year and may be renewed for a period of one year.
The notes are said to have been issued in anti dpation of the sale of
public improvement bonds for the purpose of constructing a municipal
light plant.
TEXAS BONDS
Bought
Cementon), Pa.—BOND SALE—
—
Sold
—
Quoted
H. C. BURT & COMPANY
Anissue of $30,000 debt funding bonds has been sold to Edward B. Smith &
Co. of Philadelphia at a price of 101.25.
Incorporated
,
RHODE
charged
sale of the
were awarded to E. H. Rollins & Sons of
Philadelphia as 3s, at par plus a
premium of $121.60, equal to 100.38, a basis of about 2.94%. Dated Oct. 1,
1936 and due Oct. 1 as follows: $2,000, 1942 to 1944 incl.; $3,000, 1945 to
1947 incl.; $4,000 from 1948 to 1950 incl. and $5,000 in 1951.
Houston, Texas
Sterling Building
ISLAND
ISLAND
(State of)—BOND
The issue of $600,000
voting ipachine purchase bonds offered on Oct. 7—V. 143, p. 2252—was
awarded to an account composed of Edward B. Smith & Co.,
Inc., New
York; R. L. Day & Co., and "Washburn & Co., Inc., both of Boston, at a
price of 100.0119 for the bonds to bear interest rates as follows:
2s, due $20,000 annually on Jan. 1 from 1942 to 1965, incl. The
are re-offering these bonds at
prices to yield from 1.5%
2.19%.
120,000 as 3Hs, due $20,000 Dec. 15, 1936 and $20,000 each Jan. 1 from
1937 to 1941, incl.
Offered publicly to yield from 0.25% to 1.20%,
according to maturity.
$480,000
recent election the
approved the issuance of $150,000 in electric plant
ON
SOUTH WHITEHALL TOWNSHIP SCHOOL DISTRICT
(P. O.
Allentown, R. D. No. 3), Pa.—BOND SALE—The $32,000 coupon or
registered school addition bonds offered on Oct. 5—V. 143. p. 1921—
RHODE
a
^
,
bonds.
coupon
FAYETTE
TENNESSEE
—-Uncollected
% Sept. 15, '36
88.82.
$72,836.00
82.38
135,130.36
71.50
221,793.66
74.08
341,716.14
84.90
266,926.33
awarded to the Peoples Safe Deposit Bank of St. Clair at par plus a premium
of $1,352.50, equal to 101.08, a basis of about 3.91%.
Dated Dec. 1, 1936
SOUTH
2413
Chronicle
of Sept. 15, 1936)
Collected End of—
Total Levy
$2,056,420.73
2,055,954.50
2,057,557.92
2,052,739.28
2,041,225.92
2,041,696.00
Sept. 15, 1936.
To
ST
4%
Financial
Tax Collection Record (As
Year—
*
143
as
bankers
to about
All of the bonds are dated Sept. 15, 1936. * They are
legal investment,
according to the bankers, for savings banks and trust funds in the States
of New York, Massachusetts, Connecticut and Rhode Island.
General
obligations of the State, the full faith, credit and taxing power of which are
pledged for the payment of both principal and interest.
MARKETS APPRAISALS INFORMATION NORTH CAROLINA STATE
AND MUNICIPAL BONOS ALL SOUTHERN STATE AND MUNICIPALS
TEXAS
BELLEAIRE, Tex.—BONDS VOTED—At the election held on Sept. 29
—V. 143, p. 1921—the voters approved the issuance of the $60,000 in 5%
water works bonds, according to the City Secretary-Treasurer.
Due in
30 years.
A meeting is scheduled for the early sale of these bonds.
CASS COUNTY ROAD DISTRICT NO. 1 A (P. O. Linden), Tex.—
BONDS AUTHORIZED—The County Commissioners' Court is said to
have approved recently an issue of $100,000 5% road construction bonds.
Due in 30 years.
GEORGETOWN, Texas—BONDS SOLD—It is stated by the City Sec¬
retary that the $60,000 3% semi-annual water and light plant bonds ap¬
proved by the voters on July 21 have beer sold.
HOUSTON,
stated
ARNOLD
INCORPORATED
RALEIGH. N. O.
A
T. T.
TELETYPE
RLGH
80
of
CAROLINA
CONWAY, S. C.—BOND SALE—The $25,000 issue of coupon refunding
on Oct. 3—V. 143, p. 1921—was awarded to
Johnson,
Lane, Space & Co. of Savannah, it is stated by the Town Clerk. Due from
Nov. 1, 1941 to 1963.
The purchasers tbolc the bonds at 3)4%, payaing a premium of
$131.50,
a price equivalent to 100.526, a basis of about
3.46%.
bonds offered for sale
DARLINGTON, S. C.—BONDS VOTED—At the election held on Sept.
29—V. 143, p. 2096—the voters are said to have approved the issuance of
the $41,000 in sewerage system bonds, to be used in connection with a
Public Works Administration allotment
,
ANGELO, Tex.—BOND
$38,000
Dallas at
a
SALE—The city recently sold an issue
5% street improvement bonds to Beckett, Gilbert & Co. of
premium of $4,607.50, equal to 112.125.
SAN DIEGO, Tex.—BOND SALE—The two issues of 5H% semi-ann.
bonds aggregating $125,000, offered for sale on Sept. 25—V. 143, p. 2097—
were
purchased at
divided
SOUTH
EOECTION NOT SCHEDULED^It is
City Comptroller, that the report given in these
MARFA, Tex.—BONDS SOLD—It is reported that $40,000 4% semigas revenue bonds have been purchased at par by the Public Works
SAN
&
Giles,
ann.
Administration.
KIRCHOFER
Texas—BOND
by H. A.
columns last July, to the effect that an election would be neld on Aug. 22
in order to vote on the issuance of $2,000,000 in paving bonds, was incorrect.
as
par
The issues are
by H. C. Burt & Co. of Houston.
follows: $85,000 water works, and $40,000 sewer bonds.
WINNSBORO, Tex.—BOND CALL—It is stated by Pearl James, City
Treasurer, that all of the following outstanding series of bonds are being
called for payment together with interest accrued to said date as stipulated
on the face of said bonds, at the Republic National Bank &
Trust Co.,
Dallas, on Nov. 5, on which date interest shall cease: 5% water works
bonds, dated Aug. 1, 1912; 5% street bonds, dated July 15,1913, and 5M%
improvement bonds, dated Nov. 10, 1920.
street
WOODSBORO, Tex.—BONDS VOTED—It is stated by the Town Clerk
on Sept. 21 the voters approved the issuance of
$40,000 in 5% street improvement bonds by a count of 117 to 6.
Due
serially in from 1 to 40 years, optional after 20 years.
/
that at an election held
HAMPTON, S. C.—BONDS VOTED—At
OFFERINGS
an election held on Sept
30,
bonds, divided as follows:
$2,000 fire equipment, and $2,000 street paving bonds.
WANTED
the voters approved the issuance of $10,000 in
$6,000
sewer system;
NEWBERRY,
C.—BOND SALE—The $37,000 coupon fire pro¬
tection bonds offered on Oct. 8—V. 143, p. 2252—were awarded to Herman
P. Hamilton & Co. of Chester and McAlister, Smith & Pate of Greenville
as 3s, at a premium of
$303.40, equal to 100.847, a basis of about 2.88%.
G. H. Crawford &< Co. of Columbia; J. H. Hilsman & Co. of Atlanta and
Robinson, Humphrey & Go. of Atlanta, jointly, submitted the second
high bid, offering a premium of $93 for 3Hs. Dated Oct. 1, 1936. Due on
Oct. 1 as follows:
$1,000, 1938; and $3,000, 1939 to 1950.
SOUTH
coupon or
p.
UTAH— IDAHO—NEVADA—MONTANA-
S.
MUNICIPALS
FIRST SECURITY TRUST CO.
SALT LAKE CITY
Bell Teletype: SL K-37
Phone Wasatch 3221
CAROLINA, State of—BOND SALE—The $250,000 issue of
registered sanatorium bonds offered for sale on Oct. 8—V. 143,
UTAH
2252—was awarded jointly to Edward B. Smith & Co. of New York,
and McAlister,
Smith & Pate, Inc. of Greenville, S. C., as 2Ms, paying
basis of about 2.72%.
Dated Oct. 1, 1936.
Due from Oct. 1,
1941 to 1961, incl.
100.317,
a
UNION COUNTY
(P. O. Union), S. C.—NOTE OFFERING— Sealed
10 a. m. on Nov. 7, by James Greer, County
for the purchase of a $30,000 issue of notes.
Dated on or
about Nov. 7, 1936.
Due on Feb. 7, 1937.
Int. not to exceed the legal
rate per annum, the loan to be made in
conformity with and pursuant to
the authority contained in the regular County Supply Bill for the year 1936,
bids will be received until
OGDEN,
to secure the paymept
controlling such loans. In order
of the loan the County Governing Board will issue
the notes, countersigned by the County Treasurer, and pledge for the
prompt
payment of the same, the taxes to be collected and other revenues antici¬
pated and applicable to the claims for the payment of which the money is
borrowed.
The bidders shall state the rate of int. without offering a
Premium on such bid.
Utah—BOND
ELECTION—An
election
will
be
held
on
Oct. 29 for the purpose of voting on the issuance of $2,490,000 4M % power
bonds, unless injunction proceedings should interfere.
Brown,
Schlessman, Owen & Co. of Denver have contracted for the purchase of
these bonds, as reported in our columns—V. 143, p. 2097.
revenue
Supervisor,
and six months of 1937 and the statutes
-WYOMING
VERMONT
SOUTH BURLINGTON (P. O. Burlington, R. F. D. No. 1), Vt.—
be received by M. J. Wright, First
Selectman, on or before Oct. 9 for the purchase of $35,000 3H% water
bonds.
Award of the issue will be made at 9 a.m. on the following day.
The bonds are dated Oct. 1, 1936.
Denoms. $2,000 and $1,000.
Due
Oct. 1 as follows; $1,000 from 1937 to 1941 incl. and $2,000 from 1942 to
1956 incl.
(The above report of the offering supersedes that given in a
previous issue.)
BOND EFFERING—Sealed bids will
VIRGINIA
SOUTH
EDGEMONT
INDEPENDENT
DAKOTA
SCHOOL
DISTRICT
(P. O. Ed«emont), S. Dak.—BOND SALE—The two issues of bonds aggregating
$66,000, offered for sale on Get. 2—V. 143, p. 2252—were awarded to the
Allison-Williams Co. of Minneapolis, as 5s, according to the District Clerk.
The issues
are
divided
as
follows:
$40,000 funding bonds.
Due from July 1, 1939 to 1956; optional after 10
years from date.
26,000 building bonds.
Due from July 1, 1939 to 1956; optional after 10
years.
LAKE PRESTON, S. Dak.—BOND SALE—The $8,000 4M% coupon
fire protection bonds offered on Oct. 5—V. 143, p. 1921—were awarded
to the Community State Bank of Lake Preston on a 4.40% interest basis.
There were no other bidders.
Dated Oct. 1, 1936.
Due $1,000 from 1937
to
1944, incl.
FALLS CHURCH, V&.—BIDS RECEIVED—The following is
a
listing
of the bids received on Sept. 30 for the $103,000 coupon sewer bonds which
awarded on that date to Frederick E. Nolting, Inc., of Richmond and
Falls Church Bank:
were
Name—
Interest Rate
Premium
Frederick E. Nolting, Inc., and the Falls Church
Bank
Brown, Goodwyn & Co., Washington
Mason-Hagan, Inc., Richmond..
Widmann, Holzman & Katz, Cincinnati
Alex Brown & Sons, Baltimore
3M%
3.40%
3.45%
$1,318.40
628.30
None
4%
432.60
4%
536.63
FRONT
ROYAL, Va.—BONDS AUTHORIZED—On Sept. 28 the
Town Council adopted an ordinance providing authority for the issuance
of $100,000 water works refunding bonds.
The Council wMl meet on
Oct. 12 to set a date for the sale of the issue.
„
2414
Financial Chronicle
$15,000
July, 1961 @ 2.50% basis
F. W. CRAIGIE & COMPANY
Richmond, Va.
Phone 8-9137
A. T. T. Tel. Rich. Va. 88
firms for the last week.
KINGS COUNTY,
connection
with the offer¬
follows:
$60,000 funding bonds. Due as follows: $2,000,1937 to 1940; $3,000,1941
to 1952, and $4,000, 1953 to 1956.
A certified check for $1,200
must accompany bid.
30,000*bridge bonds. Due as follows: $1,000, 1937 to 1946, and $2,000,
1947 to 1956. A certified check for $600 must accompany the bid.
VIRGINIA, State of—BOND REDEMPTION—Notice is being given
by the Board of Sinking Fund Commissioners of Virginia that the Com¬
monwealth will on Jan. 1, 1937, exercise the right to redeem and
pay so
much of the $11,750,000 2-3% funded debt (Century
bonds), issued under
Act Of Assembly approved Feb. 20, 1892, dated
July 1, 1891, interest
payable on Jan. and. July 1, principal due July 1,1991. Redeemable at any
time after July 1, 1906.
The holders of these bonds are asked to present
them for payment at the office of the State Treasurer in
Richmond, on or
before Jan. 1, interest to cease on that date.
NORTHWESTERN MUNICIPALS
Washington
—
Oregon
—
Idaho
—
Montana
Ferris & Hardgrove
SPOKANE
SEATTLE
Teletype—SPO 176
Due in from three to 15 years.
MILWAUKEE
COUNTY (P. O.
Milwaukee), Wis.—BONDS OF
INVESTMENT—Stranahan, Hartfis & Co. of Toledo are
offering for investment a block of $1,773,000 2% coupon, registerable as to
principal, relief bonds, part of the $2,500,000 issue which the county
floated on Aug. 31—V. 143, p. 1604.
The bonds, are dated Sept. 1, 1936
and mature 6n March 1 as follows: $125,000, 1942 and
1943; $625,000,
1944; and $898,000, 1945.
FERED FOR
RACINE, Wis.—BOND SALE—The $346,000 issue of sewage disposal
system bonds offered for sale on Oct. 5—V. 143, p. 2098—was awarded at
public auction to the Bancamerica-Blair Corp., as 2Mb, paying a premium
of $1,840, equal to 100.531, a basis of about 2.42%.
Dated Oct. 1,
1936.
Due from Oct. 1, 1937 to 1949.
The following other bids (all for 2)4s), were also received for the bonds:
Bidder—
Premium
T. E. Joiner & Co., the Channer Security Co. and John Nuveen
.1.
-—-$1,835.00
1,815.00
1,660.00
1 J350.00
650.00
—
The Milwaukee Co
^
Brown Harriman & Co., Inc.
A. G. Beckfer & Co
WISCONSIN,
State
__
of—TABLES PREPARED
ON TAXES AND
BONDED DEBTS OF STATE AND MUNICIPALITIES—The Wisconsin
Tax Commission has prepared a bulletin on the taxes of the State and its
political subdivisions, from 1901 to 1936^ and another bulletin on the longterm indebtedness of the State and its local units, as of 1935.
These bulle¬
tins have been compiled as of August, 1936, and show a great amount of
detailed data
a
summary
on these two subjects.
In the tax bulletins there is also given
of the long-term indebtedness of the State and its units, from
1928 through 1935.
WONEWOC, Wis .—BOND SALE—The $23,000 issue of 3% sewage
disposal system bonds offered for sale on Oct. 1—V. 143, p. 2098—was pur¬
chased byJHarley, Hayden & Co. of Madison,
paying a premium of $450,
equal to 101.956, according to the Village Clerk. Denom. $1,000.
Dated
March 18,1936.
Due annually up to March 18, 1946.
Interest payable
March 18.
WYOMING
CHEYENNE, Wyo.—DETAILS ON BOND REFUNDING—Ih con¬
March, that the
city had accepted a proposal made by the Stockgrowers National Bank of
Cheyenne, to refund $675,000 of the city's water works extension bonds,
we are now informed by J. K. Stoddard, City Clerk, that the new bonds
issued as "Refunding Waterworks Bonds, 1935,**
43u% up to 1943 and 3H% thereafter, all due serially.
were
and
they
bear
Canadian Municipals
Information and Markets
RRAWLEY, CATHERS & CO.
WEST, TORONTO
„
offered on Oct. 6—V. 143, p. 2098—wasmwarded
the Bank of Nova Scotia, in Canada, as'follows:
$2,000,000 due in 10 years,
about 3.15%.
1,500,000 due in 15 years,
were
sold as 2%e, at a price of 96.60, a basis of
as 3s. at 94.50, a cost basis of 3.47%.
the Bank of Nova Scotia in the purchase were the
Bell, Gouinlock & Co., McLeod, Young, Weir & Co.,
Mills, Spence & Co., Cochrane Murray & Co., T. M. Bell & Co. and Irving
were
sold
with
Dominion Bank,
Brennan & Co.
TJhe Bank of Montreal in account with the Royal Bank of
Canada, A. E. Ames & Co., Wood, Gundy & Co., Eastern Securities Co.
and Dominion Securities Corp. submitted the only other tender made for
the loan. This group bid as follows: 95.03 for $500,000 15-year 3s, with 30day option on balance of $3,000,000; 95.53 for $500,000 20-year 3Ms, with
30-day option on balance of $3,000,000; 95.03 for $500,000 15-year 3s and
95.53 for $500,000'20-year 334s and option of 30 days for balance of $3,000,000 bonds of either the 15-year or 20-year bonds,
of Canada headed the syndicate which recently made public
offering in Canada of $51,000,000 non-callable bonds, previously reported
in these columns.
The offering included:
$15,000,000 3% bonds, priced at 99 and accrued interest, to yield 3708'^7
Dated
Nov.
1, 1936.
Denoms. $1,000 and $500.
Due
Nov. 1,1951.
12,000,000 1% bonds, priced at par and accrued interest.
Dated Oct. 1,
1936 and due Oct. 1, 1938.
12,000,000 134% bonds, priced at 99 and interest, to yield over 1.50%.
Dated Oct. 1, 1936 and due Oct. 1, 1940.
12,000,000 234% bonds, priced at 100 and interest.
Dated Nov. 1, 1936
and due Nov. 1, 1944.
The bankers offered the issues of 2 34 % and 3
% on behalf of the Province.
Principal and interest on all of the bonds in lawful money of Canada at
the option of the bolder at branches of the
Royal Bank of Canada in Mont¬
real, Toronto and Quebec, and at branches of La Banque Provinciale du
Canada at Montreal and Quebec.
The bonds, according to Campbell, McMaster,
Couture, Kerry &
Bruneau, counsel for the bankers, will bea direct obligation of the Province,
and will be a charge as to principal and interest upon the consolidated rev¬
enue
fund of the Province.
Proceeds from the issue, are to be used for retiring $10,000,000 of 5%
bonds falling due on Nov. 1, and refunding $26,000,000 of treasury bills,
the balance to provide for payment of treasury warrants and outstanding
accounts.
Average cost to the Province is less than 2 M %, and the issue is the largest
offered at a record low cost for all time for
similar term.
----—
Syndicate Members-^The following is a conplete list of the underwriting
group:
The Royal-Bank of Canada; La BaDque Provinciale du Canada;
Bank of Nova Scotia; Bank of Montreal; La Banque Canadienne Nationale;
Imperial Bank of Canada; Barclays Bank (Canada); W. C. Pitfield & Co.,
Ltd.; Wood, Gundy & Co., Ltd.; Dominion Securities Corp., Ltd.; A. E.
Ames & Co., Ltd.; Hanson Bros., Inc.; McLeod, Young, Weir & Co., Ltd.;
Collier, Norris & Henderson, Ltd.; Royal Securities Corp., Ltd.; L. G.
Beaubien & Cie, Ltee; McTaggart, Hannaford, Birks &j Gordon, Ltd.;
Bell, Gouinlock & Co., Ltd.; Societe de Placements, Inc.; Aldred & Co.,
Ltd.; Nesbitt, Thomson & Co., Ltd.; Mead & Co., Ltd.; Cochran, Murray
& Co., Ltd.; Mills, Spence & Co., Ltd.; Greenshields & Co., Inc.; Midland
Securities Corp., Ltd.; R. A. Daly & Co., Ltd.; Credit Anglo-Francais,
Ltee.; Kerrigan, MacTier & Co.', Ltd.; Gairdner & Co., Ltd.; Rene-T.
Leclerc, Inc.; Henri Turgeon, Ltee.; James Richardson & Sons; Dube,
LeBlond & Co., Inc.; Drury & Co.; Ross Bros. & Co., Ltd.; Hamel, Fugere
& Cib, Ltee.; Skaith & Co., Ltd.; Comptoir National de Placement, Ltee.;
Pemberton & Son, Vancouver, Ltd.
Canadian provincial issue ever
Canadian provincial borrowing for a
$51,000,000 OFFERING QUICKLY SOLD—The offering was the largest
bond flotation in Canadian .history and "was oversubscribed
24 .hours of the receipt of applications for the obligations.
The
financing was negotiated by tne Province at a net interest cost of about 2 %
Provincial
nection with a report that appeared in these columns last
25 KING ST.
n
The Royal Bank
reported to have been purchased by T. E. Joiner & Co. of Chicago.
MIDDLETON SCHOOL DISTRICT NO. 12 (P. O.
Middleton), Wis.
■—BOND SALE—The $28,000 issue of 2 % % semi-ann. school bonds offered
for sale on Oct. 5—V. 143, p. 2254—was purchased by Harley,
Hayden &
Co. of Madison for a premium of $527.75, equal to 101.88. Dated Oct.
1,
____
of)—RECORD OF FEDERAL, PROVINCIAL
and
(Dominion
QUEBEC (Province of)—DETAILS OF $51,000,000 FINANCING—
WISCONSIN
CUDAHY, Wis.—BOND SALE—A $75,000 issue of school bonds is
-
CANADA
municipal financing during the month of September totaled $145,781,750,of
which $118,568,200 was for refunding purposes and $27,213,500 for new
capital, according to figures compiled by Wood, Gundy & Co., Ltd.
All
financing during the month was placed in the Canadian market and was
almost entirely for the account of the Government, consisting of $45,000,000
of 434-year 1% notes and $55,000,000 of 3% perpetual bonds, callable on
and after Sept. 15, 1966, together with two issues of treasury bills aggre¬
gating $45,000,000 issued to refund a like amount of maturing treasury bills.
In September of last year financing amounted to $190,872,102 and in
September, 1934, to $8,865,100.
For the first nine months of this year, financing totaled $830,179,365,
exceeding the volume in that period in any of the previous four years. For
the same period of 1935, a total of $625,552,975 was reported, and in 1934,
a total of $267,165,317.
Of the total for the first nine months of this year,
$744,876,300 was for refunding and $85,303,065 to provide new capital.
Corporate financing for the first nine months of this year, totaling $205,385,724, also was the largest volume in that period in any of the preceding
four years and compares with $27,062,000 in 1935 and $40,686,596 in 1934.
Among the large issues during September of this year for refunding purposes
were $16,500,000 by Canada Cement Co.; $10,000,000 by Simpsons Limited
and $5,000,000 by Dominion Tar & Chemical Co.
Associated
$11,400,000
TRACTION PROORAM—Details of Seattle s traction program, made public
by Albert E
Pierce, Street Railway Superintendent, and Isaac Oomeaux, Chief City
Accountant, reveals plans for a bond issue of $11,400,000. Of the total,
$5,000,000 would be used to settle the $8,336,000 debt to Puget Sound
Power & Light Co. on the original railway purchase contract.
Another
$1,200,000 would be used to pay up outstanding warrants and $5,200,000
would be spent for new railway equipment.
Financing of the plan involves the payment for equipment with bonds
and the transition to the trackless trolley-bus system within one
year.
& Go-.—.
Irving, Brennan & Co
AND MUNICIPAL FINANCING—Canadian Government, provincial
BRUNSWICK
(Province of)—BOND SALE—The issue of
$3,500,000 coupon, registerable as to principal only, various purposes bonds
to an account headed by
WASHINGTON
PLANS
101.87
101.17
99.52
99.375
Cornell, Macgillivray, Ltd
Dominion Securities Corp_
J. C. Mackintosh & Co
b*NEW
PORTLAND
Teletype—SEAT 191 Teletype—PTLD ORE 160
Wash.—CITY
Blyth & Co
Bate Bid
Bidder—
NEWS, Va.—MATURITY—In
ing scheduled for 2 p. m. on Oct. 26, of the 890,000 bridge and funding
bonds, report on which appeared in our issue of Oct. 3—Y. 143, p. 2253—
it is stated by L. J. Kopke, City Auditor, that the bonds will mature as
1936.
N. S.—BOND SALE—Cornell, MacgUlivray, Ltd.
3 34% bonds, dated Oct. 1,
Bids were as follows:
of Halifax have purchased an issue of $30,000
1936 and due in 10 years, at a price of 101.87.
VIRGINIA
NEWPORT
10, 1936
ALBERTA
(Province of)—FEAR OF TAX PAUSES CAPITAL
EXODUS—Capital is flowing out of the Province because of fear that the
Social Credit Government contemplates placing a levy on bank accounts
and negotiable securities, according to press advices from Calgary.
The movement, it is said, was reported to have started a month ago.
It is estimated that between $5,000,000 and $6,000,000 in cash and nego¬
tiable securities has been transferred from Calgary banks and trust com¬
panies to institutions outside the Province at the request of depositors and
security holders.
Both banking and retail businesses are reported to be
suffering as a result of the exodus of capital.
Insurance men say that riot insurance rates have increased in the city
and that inquiries regarding rates have been coming in steadily from local
RICHMOND, Va. Improvement 41/43
Due
Oct.
ELGIN 6488
CANADA
within
VICTORIA, B. C—REFUNDING OF $12,656,211 DEBT PROPOSED—
A proposal to refund $12,656,211 of debenture debt of the city by issuing
4% sinking fund bonds, due 1972, is to be placed before over 51% of the
city's bondholders by a delegation now en route to London, according to
the "Financial Post" of Oct. 3.
Bondholders in Liverpool, Edinburgh,
Montreal, Toronto and New York will also be approached.
The delegation
consists of Mayor David Leeming; D. A. MacDonald, City Comptroller
and Treasurer; and C. S. Henley of C. S. Henley & Co., Victoria,
recently
appointed fiscal agent for the city.
Mr. Henley, sponsor of the scheme, estimates that it would save the city
$767,519 in debt charges in 1937, $791,465 in 1938 and 1939 and $589,616
annually from 1940 to maturity.
These figures include sa\%igs resulting
from replacement of serial maturities by sinking fund bonds and extension
of other maturities to 1972.
The reason for the larger saving in the first
three years is that the sinking fund is not to be commenced until after the
third year.
Annual debt charges at the present time amount to $1,300,322.
Actually the figures are somewhat illusory.
The net saving to the city
will not be as large as indicated.
By refunding the debt with bonds due in
1972 the debt burden is being extended over a longer period of time and as
a result the total interest paid on a large portion of the debt
will be greater
than if it
were met at
the present maturity.'
Provisions
of Scheme
ALBERTA (Province of)—HELD ABLE TO PAY DEBTS—In a report
on the results of an investigation into the financial status of the Province,
prepared for a committee of holders of its bonds, it was stated that the
province is economically and fiscally solvent and is able to pay all of its
funded debt charges in full and reasonably expect surpluses in the near
future.
The bondholders committee is headed by J. M. MacDonnell of
and serial, are to be exchanged for a like amount of the new issue.
The
bonds to be dated Jan. 1,1937, are to be callable at par on 3 months' notice
It is proposed to issue the new bonds In series A,
B, O and D.
Series A
are to be payable in London; series B in London and
Canada; series C' in
Toronto.
London, Canada and New York; and series D in New York and Canada.
Under the proposed
scheme all present debentures, both sinking fund
@FedFRASER