The Los Angeles Times from Los Angeles, California • 21

PARTH 9 NEW KAISER ISSUE BUSINESS FINANCE OVERSUBSCRIBED Interstate Air in Stock Plan Interstate Aircraft Engi Los 3nffde0 THURSDAY, JANUARY 24, 1 946 Planed By HAROLD WALSH FINANCIAL IDirOI Investment Unit 1 May Split Stock Accompanying the spectacular advance in the stock of Cen Hint of Steel Price Move Aids Industry Strike Outlook Within an hour after the Kaiser-Frazer Corp. in New York yesterday announced the offering price of $20.25 a share on the 1,800,000 share additional common issue, Otis Co. in Cleveland, announced that the offering was heavily oversubscribed and the books closed. neering Corp. nas plans to change the name of the com tral Investment Corp.

on the Los Angeles Stock Exchange to a new high yesterday of $150 a share, are reports that directors will submit to stockholders at seizure of the steel industry a move fraught with danger for the government." Stock Dealings Expand on Rise NEW YORK, Jan. 23. UP) Stock market prices -rose fractions to 2 points and more today with expanded dealings centering in utilities, steels, rails, motors and miscellaneous industrials. Low-priced utilities were espe-cially popular. Aircrafts also did well.

Volume of 2,040,000 shares compared with 1,530,000 Tuesday. Belief the government would allow industry price Increases to offset higher wages and thus end some of the widespread labor strife caused part of the renewed bidding. The Associated Press 60-stock composite advanced .7 of a point to 78.1 within 1.6 of the 15-year top set Jan. 16. The 15 most active stocks: pany to Interstate Engineering Corp.

and Increase the authorized capital stock from 200,000 shares of $5 par to 500,000 shares of a like par, it was learned yesterday. Change in the name Is desirable, it is understood, because the company now is practically out of the aircraft field, with Loew's Earnings Lower for Year NEW YORK, Jan. 23. () Loew's and wholly owned the annual meeting March 12, next, a proposal to split the stock. Suggested basis wa3 five new shares for one of the old.

Officers and directors of the company were noncommittal following the board meeting yesterday. The company has an authorized capital of 60,000 shares of $100 par common stock, of which 58,563 shares are outstanding. virtually all of its energies de HOLLYWOOD TURF CLUS One of America'i leading rice tracks. Public attendance increasing each year. Track recently allotted 35 days of racing for its 1946 season an increase of 20 days over 1945.

Also tin 1946 meet will not be subject to excess profits taxes, which should result la larger pec share earnings for the stockholders. Offw for Sob (Subject Cotemsthl CAPITAL STOCK $510.00 A Shofsj Tor compUte inform) tonleet PHILLIP B. CROSI Mrmitr Lai Atfelts Stock Exctmf 453 S. Spring S. TIinity4H1 Lea AngaUt, California Long Beach San Ttitgo Beerly Hull Arcadia voted to engineering and manufacture of consumer products.

subsidiaries reported today net income for year ended Aug. 31 of after charges, equal, to $2.55 a common share NEW YORK, Jan. 23. UP, The Iron Age said today that a steel price increase of $6 a ton reportedly has been talked over as a means of ending the nation's largest steel strike. The trade magazine referred to the figure as a "bait" which would be used to assure acceptance of President Truman's compromise suggestion of an 18 i cent3 an hour wage increase.

The national metal working paper said the chances seem even less slim now, but that unless the administration finds some new basis for a resumption of steel management-labor negotiations, the current strike "will be long and bitter." "The only other alternative for the administration," it said, "if it wishes to play a major part in stopping the strike, would be by HOWARD KEGLEY on 5,055,327 shares outstanding, The company is in production on the water cooler acquired from the Revelation together with a water softener, Indications of heavy produc The sharp rally in security prices over the last two days from Monday's sinking spell reflects principally Washington expectations that the nationwide labor unsettlement over wages will be shortly settled as a result of a further basing of price control policies. This view, which has yet to be confirmed in official quarters, but which was apparently largely responsible for the turnabout on Tuesday, has been strengthened by broad tape 6torie out of Washington to the effect that whether or not the steel companies accept President Truman's proposed wage settlement the price of steel would be advanced on an average of $4 a ton before the close of January. This, it is assumed, would leave the way clear for further increases, to absorb a large percentage of the impending wage boosts. Inflationary Trend The inflationary implications of Washington developments are well exemplified in the trend of commodity prices the last few days. The Dow-Jones commod tion were found yesterday by This compared with $14,517,256 in the same period of 1941 which, adjusted to give effect to the three-for-one split-up of last which is under development.

At Standard Oil JCo. when it ran a formation test in its Weston No. FUNDS N.A.S.D. INVESTMENT Furnished by the 33 well, a southeasterly exten Bid Asked the same time the company is completing development of a soft drink dispenser, two models year, was equal to 5.2.8 1 a share. Bid Asked AJTUiat 6 94 7.59 AmBufShr 5.14 8.63 16.24 17.46 16 90 Other earnings follow: 15.74 12.43 13.46 Rhr.

of wiiich will be built, and short Llrcett Ms Myers Tobacce 1945 net Mai 2nd Nat Wida Nat Inv State 8t UnBFd A. Do Do 57.00 60.00 24.82 25.59 31.66 23.68 income S14.938.836. eaual to 14 30 a common share, compared with. S14.793.459. 84 Axe a ra is 61 zi.ng Bost Fd 24 88 2S.73 Brod St 43.03 4S.52 Bullock 23.31 25.55 ChemFd 13.62 14.73 ComwlInT 6 69 7.27 Divid Shr 1.77 i.94 EHBaF 27.07 58 95 ly will be in production on a vacuum cleaner on which orders for 40,000 were received at the Do of 9.74 10.65 25 99 23.41 11.13 12.16 1V4 Do com V4 sion of the Cymric field.

The well flowed for a time at the rate of 2000 barrels per day from the upper 19 feet of the Olympic sand, at a depth of 5009 feet, and is now in process of completion. Thi3 project is 4000 feet southeast of the nearest producing well in the field and is on Sec. Quotations Local recent appliance show in Chi Fd Inv 35.22 38.60 Sale" 68.5110 sa.sno 40,800 ss.ooo 80.400 28.400 28.600 5, Oft SS.SOO 13.400 21.700 18.200 18.000 Clow S4 13 ii4 'Sfc 9 8Va 18 10 18H 11. Comwltb. 8.

I nited Corp. Columbia Gaa A El. Gen. Fab. It Aviation Corp.

Allerhanr Car. Laclede Gaa Calumet Fee. Con. Conner Min. Graham-Paige Radio-Keith-Or.

Fire. Sr. Mas. Ind. Am.

A Fer. Pow. Sinclair OH Packard 4- 8 LIVESTOCK V-t Grot) bee: Auto 8 54 939 Aviat 11.06 12.15 Ve cago. The company also has com NY Stocks: Asneult 14.70 16.14 Auto 9.30 10.22 Aviat 17.40 19.10 BldsSUB 10.34 11.36 Div Inv 14.26 15.66 DlvSoeo 17.07 18.74 pleted development work on a four cycle, aircooled engine in 4- 4." a Elec Eo 12 08 13.27 Chemical 7.49 8 24 Bond 9.68 10 64! Petrol 7.34 8.071 FR Fa 6.64 7.30 RH Stock 7.53 8 28 Steel 6.38 7.02 Inc Irvr 31.91 34.31 InvCoAm 33.43 36.33 or $4 25 a share in 1944. Best Foods.

six months ended Dee. 31 net Drofit SI. 284. 595, equal to 86 cents a share, against SI. 205.

613 or 80 cents for the like 1944 period. American Distilling ouarter ended Dec. 31 net profit S497.542. equal to S1.99 a common share, aeainst S282.06O or SI. 13 for the same period in 1944.

Servel. fiscal year ended Oct. 31 net profit 81.464.680. equal to 69 cents a common share, against sl.R63.730 or 96 cents for the preceding year. Manhattan Shirt fiscal year ended Nov.

30 net income 1481.158. eaual to $2.31 a share, against S309.98S or S2.35 for the previous year. Martin-Parry ouarter ended Nor. 30 net profit $164. 172.

equal to 36 cents a share, aeainst S93.187 or 21 cents for the like 1944 period. G. R. Kinney year ended Dec. 31 net income S509.826.

equal to S7 64 a combined preferred share, acainst S486.180 or 87.29 for the preceding year. Savage Arm year ended Dee. 31 rrt nroftt S350.718. equal to 52 rents horsepowers ranging from to 2Vi, and is developing her Merch Metals BR RR Fa 16.39 18.21 9.59 10.54 12.07 13 26 8 90 9.79 11.49 12.62 Federal-State Market News Service CATTLE Salable. 1800: slow, over 30 loads of steers available: market generally steady; medium to good steers.

15.00 16.75: several loads. 17.008 17 25: some held hicher: medium lots. 14.00914.3S; medium to good heifers. 14.00 9 15.60: medium to good cows. 11.50 13.25: some held above.

13.50; cutter to common cows. 8.90911.00- eanners. 7.50SB25: few. 8.50: medium to good sausage bulls. 10.50913 00: odd beef bulls to 13.50: few loads stock corn held to around 9 50.

CALVES Balable. 50: fully steady: medium to choice slaughter calves, 13.50 3 15 25 Extra Declared Key custoa: metically sealed compressors for Steel 9.41 10.35 ity futures index, recognized B-2 B-3 28 27 30 971 20 56 23.56 11.85 13 00 Nat Sec Ser: refrigeration units. 7 49 8.23 Bond key to forward prospects, has by Insurance Unit 22 42 24. 88 been advancing without inter 30.15 33.17 Production is about on a break-even basis at the present time, it is understood, because 31.78 34 88 26, 29-21. It expends the field fully half a mile.

Union Finish Three During the past week Union Oil Co. completed three new producers for a combined daily output of 1590 barrels. McLeod No. 343 at Buena Vista Hills came in for 526 barrels, Dougherty No. 3 was completed in the conglomerate at Edison foe 612 barrels, and Union Sugar No.

24 at Santa Maria was brought in for 452 barrels. California Western States Life 8 07 8.87 10.04 11,08 660 7.30 5 33 5 92 7.85 8 69 10 04 11 15 18 27 20.10 B-4 K-l K-2 S-l 8-3 8-3 8-4 Knickerh MsnhRFd LP Bond Pf Stock Income Soecuiat Stock Ind Sk Bel Grna LP Cora HOOS Salable. 150: steady: barrows Insurance Co. today declared an ruption into new high ground. Yesterday it again moved ahead .19 to 105.79.

16 20 17 82 8 52 946 7.66 R.47 of the difficulty in receiving extra dividend of 50 cents and 5.30 SB and cuts. 15.80. the celling: good sows. 15 on. SHEEP Salable, rood to choice woolcd lambs Quoted around 14.50.

6.44 7.20 9 42 10 36 a share. aainst S457.336 or 68 cents for parts from other manufacturers. the preceding year. I the usual semiannual dividend of Mass Inv 30.68 32.88 Another factor that ha3 been 50 cents on capital stock, payable recognized by the market right along and is now causing Presi March 15 to holders of record NEW YORK STOCK EXCHANGE TRANSACTIONS March 1. Other dividends follow: dent Murray of the United Steel-workers some concern is the position occupied by the struck Otis Elevator 20 cents; March 20.

Sales Close N.Ch.1 Sales Close N.Ch lales Close N.Ch.! Sales Close N.Ch. Fh 1Q NEW YORK. Jan. 23. Worried About inFLATion? What my it do to your Savings, Life Insurance, Investment.

Living Coats? Do you know how to protect yourself? Read Roger W. Bsbson's timely 232 page book Inflation Com." Simply attach dollar bill, your name and address, to this advertisement and mail to Dept. LA.T-H4. UmV REPORTS Wellesiey Hills 82, Mass. 70 Paramount 2 64 594 1.

iswiitint i so 36 jsvi 29 MijLib-O Glass 1 6 Following is a tabulation of Licaeti Myers rosacea quarterly steel plants as a result of the 4 syivjMec ir i 75 cents on Clasa A and Marcn 1 Sales Close N.Ch. Calif Pk la 44: lf4 134 4 38 4 14 17t. MfN '3 35 62 1'4 iLife Sav 2 Sr-Gould 4g 39 15 4 ParkTilfd 3 3 Park 59 Parke 30e 12 Active Session Ups Futures Prices CHICAGO, Jan. 23. (General and active buying pushed F'b 13.

4 4- 99 today's hoard lot transactions on the New York atock Exchange showing the annual dividend rate, volume, close and net change: stTiri Arma corv 13 4 cents; reo 15. Feb. S. 8. 374..

30 V. 18 23 4 70 Sl'i l'iiLls fe MV 3 65 4 Do 3a 75'. 1 '4 Liiv Tulip l'i lnqi. Lima Loe 2a 7 101 4 1 3 55 4 3 81 14 4' iTelaatogr .40 2 3, Tenn Corp 1 4 4 Texas Co 2a 23 sI'TexGPr 30a 35 Call z-Leaa CaiHec.35g 294 CampWy ltg 1 Can Dry 1 4 Can Phi 1-4 126 Carrier Corp 41 Do pf 2V4 1 Newport Newa 8tilpbolldinr A Prvdeck ouarterly 60 cents; March 1. Feb.

14. t'nited Store 82 on arreara on 86 107 344-t- 48 1 2V4- J. 32, 4 80' i 10 V. 124 184 584 10 49 28 17 Sales Close N.Ch. nrelerred; Feb.

15. Feb. 4 55 4 42 1 grain futures upward today, with iTexO 8ul 2a 19 Ah T.nH 1 R04 2 H.I 4- ran-American petroleum tk Transport Fed Mog 1 20a 3 Fed Mot 6 FedDStrs 1', 11 Ferro En 1 3 FldPFIns 2a 1 Firestone 2a 22 Do pf 4'. 1 FirstNStrs 2'i 9 Flintkota 15 Fla Pow 22 Florsh Sh A 2 1 Follan stl 22 Food Strs 1 7 Food 1 55b 1 Fos Whir la 9 Fran Susar 40 Free 8ul 2 '4 6 Frue Tra 11 15 4 TexPacC 4a 5 TexPTr 13 ij CarfcGtn .20 8 ACF-Brill 15 18. V.

60 2 LlnK-BPIt 2 1 38 Oil la 3 17..... iLio Carb la 25 46 Do rt 345 154 1 ILorkheed 2 10 41U l'ja 43 74 jLoneS'Ce 14a 5 47 1 IL-B Lbr A 3 45'4 I le. 40 cents: April Marcn la. Incerssll-Rand Ce.r quarterly 81.50; March 1. Feh.

4 Acme Stl 1.10g 5 32 Case I 6 22' ll Tractor 3 6 TexArPae 2'ar 2 Thatcher 3 AdamsEx 15 Aridrefsoz 1 8 60 14 14 4 43 36. 14 674 1 304 14 85 4 4 30 4 4 67 4 14 28. 4 41 '2 284 30 27 4 1 46 4 42 i fhe Fair Continental Can Quarterly 25 centa- March 15. Feb. 25.

Tl Admiral le 8 18T 55 'a Celotex 8 Do Pf 1 4.50 Cent Ag 1'4 11 Thermoid .6 15 Third Av Tr 19 MsBsanto Chemical quarterly 50 35 L-w bisc la is Air Redue la ZO Aiaska Jun 92 cents: March 1. Feb. 9 S3 liZ ViiiiThomo JR 1 1 61. 4- Mr Cent Foundry 13 Park R-Pr 14 1 Parmelee Tr 15 Patino 24g 8 3 ,2 Penney new 37 Pa-C Air .4 4 Pa Coal lg 2 Pa Cem new 8 Pa Ol Sand 1 1 Pa Pw A Lt 20 Pa RR l'it 39 Pa 8alt l.SOg 7 Peon Oas 4 3 Peoria Ac 3 Pep-Cola .70 28 Pere Mara 6 Do nr 14k 1 Petrol 8 Pfeif Br 4f 8 Pfizer 9 Phelps 1 60 29 Phil Flee 1 20 22 Do 1 Pf 18 Phil to Rdg 19 Philco 9 Phil Mor 14 8 Do rta 989 74 25 1'. 21 4- 28 '4 ll'e 1234 "4 23 4 2' 4 41'j 1'4 48'3-t- 16'.

34 Alleghany 320 Burroughs Andirtr MacBina 10 May rye passing $2 a busnel for the first time in 25 years, May oats reaching the 81-cent ceiling and new seasonal highs established in many contracts. Th Associated Press areithted wholesale prices index of 35 commodities today declined to 112.21; previous da. 112 25: veek ate. 113.13; month aso. 112.63.

rear so. 108.19. DOW-JONES INDEX Tin nf 60 4-l4iCenHudGE 48 15 74 V. 4-1 Cent RR NJ 10 Do pr pf cents: March 5. Feb.

1. Lane Bryant. quarterly 38 cents: March 1. Feb. 15.

Gabriel Galr 30b Lorniara 1 LouisvG A 1 4 1 LouisvArN 3 52 5 LukenStl 29 Mark Tr 3s 1 Macy 1 60 3 Mad So Gar 1 9 Mas Coo 4 5 ManatiSug4g 13 42 4 V. 134 1 10 4 4 i9 4 4 24 1 26'. 1 '4 14'. 19 3. jThompPr 2g 8 11 1 a.

do pf 1 114 4 'Tide 58 15 2 1 sqj. IiiVTlmk RB 2 38. Ii.iTrantam 4a 20 30 il 'Trans to WA 3 2qn li'TranPue 2 3 1Q1. iiTri-Cont 60 4 4 centvisug i'4g I Cerro Pas tie 5 Cert-td Prod 90 Cham Belt 1 3 Champ Pap la 2 Do pf 1.20 Gamewell 1 Allfg-Lud 2 8 43Vs Allen Ind 2 Al Chem 4 199 4-1 Allid Kid lb 2 2434 4- Allied 2g 13 37V4 4 Allied Str 1 60 22 54 2'. 28'i 1 17 4 154 4 n.t 644 34 114 624 204 65 1 194 4 62 4 304 4 114 4 164 4 404 107 4 33V4 Bath Iran Moras quarterly fi: April 1.

March 15. Lynch quarterly SO cents; Feb. 15. Feb. 5.

Madison Sanara Garden auarter. 1 35 4-47' 58'a 20 23 6 4 12 16 23 15 8 7 60 ly 28 cents; Feb. 28. Feb. 15.

Allis-Ch 1.60a 18 55'. NEW YORK. Jan. 23. The Dow-Jones commodity futures index today advanced osr wd .40 Do rf 2'4 Gay Cont 1 GenAInv3 ORg Ches 3D 13 Chi Ac 111 63 Do A 2g 52 Chi Grt West 83 Do nf 2'i 24 Truax-Tr 1 2 50 31 iMandel Br '40 1 ia(t 1- Manh Shirt la 3 Do Pi 4 iJva jj r.

K. Mallory 20 cents: March 9. Feb 25. 44 4 14 66' iMarar oil Alpha Cem .1 33 1 Liberty Aircraft rrnflneti 28 694 1 1-32 to 105.53. up .19, and a new 1945-46 nun GRAIN PRICES CHICAGO.

Jan. 23. JP ue'riei 4ht in tii ff HWS tows AKB crwirT. WCOIPOIUTTO eli 5wutK tat 14 13 Chi Or .60 2 i4- i 71 1 484 4 36 4 26 4 15 4 4 23 14 44 4 7 4 10 194 4 434 434 24 4 14 594 1 43 14 314 4 664 14 144 4 cents: Feb 15. Feb.

1. 1094 4 Amai Learner ii7a Do pf 2 69 2 Amerada 3 2 149 Vi 24 Cook Faint Varnish quarterly 70 OenATr 2'i Gen Bak .60 Gen Br ie .80 Gen Cable Gen Cigar la Gen Fl 1 60 Do pf 4 Phillips Pet 2 3 Pitt Cok 4 1 1M 25V4-I- 4 15" 2 32s4 39 3 4 4 351. 1 81 2 41 Hi 7414 14 344 'j 21 'i 13'. 135. 2'.

144 open Misn uiw wio cents: March 1. Feb IS Tubue Bay 1 9 Do Pf 44 1 Tw C-Fox 3a 32 Do Pf 14 24 Twin City FT Do pr 2 4 2.30 Twin Coach 3 Underwd 24 2 Wheat f. 44 AmAChl.20a 3 42 AmAirlines lg 10 83 3., 1 804 Midi 47 MStRyprpf 10 Field 1.20a 31 Martin GL 3 14 Martin-P .60 63 Masonite 1 2 Master El 1 40 1 Math Alk 1 11 May DStr 1.70 9 Maytag Co 5 Gen Fds 1 60 8 34 4 48 4 1 54 4 4 504 75 1 22 4 804 804 .794 it 1.804 1.804 J-79H 1.79 Am Bk la 2 38 "'4 Am Bosch 27Va Am Brake la 7 54 lti Am CARadio 30 15' J4 Am Can 3 Xd9 99 '4 Gen Mills 14 8 Gen Mot 3 102 GenOAdv 3 Mar July ..180 4 Sept. Dec. .1.794 Corn May July Sent Pitt Coal 10 Pitt Forg 1 5 Pitt PI Glasa 19 Pitt 8cr .40 5 3 Pitt Steel 24 Do 5s rf 2.90 Pitt fe WVs 9 Pittston Co 22 Plym Oil lb 4 Poor .80 4 I Gen Pr Eo 1 5 544 59 64 4 144 234 4 26 4 IV 47 1 124 4 194 4 83 34 32 4 4 25 4 4 23 4 4 234 a 27 4 61 4 68 26 4 i 148 DO PI 7 l.BO Z(10, 1.18V 504 55 4 3 38 7 214 44 4 I Do pf 4k 1 iMcCall 2a 9 iMrCrory St 1 25 Am Car 3r 10 68 4-1 74 4 24 24' i 4 105 254 1544 24 39 4 Ja 50 4 4 36 1 39 4 35 124 2Mi DO PI 7 4 CMStFPSC S4 Do of 35 Chi NW 3 23 Do pf 5 10 Chi Tool 2 8 ChlctCotOil 1 I Childs Co 5 Chrysler 3 22 CIT Flnan 2 8 City IF 1.20 4 City Sirs .60 1 Clark Equip 3 4 CI Gr Br 2 7 Climax 1.20a 37 Cluett Pea 2 3 Coca-C A 3 1.20 Colgate la 2 Col Aik 1 6 Colo 32 Col Br A 180 3 Do 180 2 655 Do 6s Pf 6 6 Wirt iH 4 1 4 Do pf 5 3 20 140V4 Am 2 5 I Oata May I July .78 4 iS.ot.

.761 39 27 V4 Otn FUO SV 70 Gen Pub Ut 635 Gen Ry Sig It 1 Gen 73 Gen Ref lg 4 Gen 6hoe 1 4 Gen 8C pf 6s 1 Gen Tel 1.60 5 Gen Time la 3 .804 Am crys 6ug 234 V4 67-1, 2'. 591. lr 41'4 56 V4 62 2 48'a 2 53 H4 .804 .78 4 .764 .77 .81 .77 Bae wa iz Un Carbide 3 25 Union Oil 1 15 Un Pacific 6 3 Un Car 2 3 Unit AL 4b 14 UnitAirer 2a 32 lUnitBKeitft la 5 I Unit Carbon 3 2 'Un Ci Strs 139 I Do pr pf 14 3 I Unit Corp 1020 Do Pf 21c 12 Ur.ited Dru 17 4 Am Distill 2 82 carryback features of the tax law which throw the burden cf losses resulting from idle plants upon the government. Norman Funk, investment analyst, in discussing this point, notes that these safeguards have been one of the foundations of market, optimism during the period of reconversion and labor unrest through which we have been passing. Speculatiye Appetite An additional sign of today's avid speculative appetite, given the least bit of encouragement, was presented yesterday with formal public offering of 1,800,000 new shares of Kaiser-Frazer Corp.

stock at 20 U. Within an hour's time a total of $33,450,000 was raised with the issue heavily oversubscribed. The fact that two States, Michigan and Ohio, prohibited sale of the stock due to technicalities coincident with Its position as a company in the promotion stage, went unnoticed as far as demand was concerned. Buying yesterday was resumed on a sufficiently large scale to lift prices to more than 2 points over a broad list, with utilities, steel3, rails, rubbers and a wide assortment of industrials in the vanguard. The Dow-Jones industrial average advanced 1.49 to 198.84, and for the last two days was ahead 2.21, a figure which represents a major recovery of the Monday loss of 3.58.

The rails rose to 66.97, the utilities .45 to 40.45 and the composite .87 to 73.30. It wa3 a very broad and active market. OVER-THE-COUNTER JTurnHhed the N.A.S.D. Press Stl I 20 Do pf 3 Prort toil PubSv NJ .80 12 Do 8s Pf 8 1 30 Dex- .77 Vi Am tn Tiling Am Fxo Li 2 1 1 Do34 3' 2.60 112 JMcGraw El la 2 41 McO-Hill Is 3 314 sMcInty h2.22a 1 67 1.40 6 46 '4 M-L Strs .80 14 28. 1 Do pf 5 2 50 118 87 -38Vi '-4 10 1V 109i 1'4 1173.

V4 .1.99 3.02 1.99 a004eS.OOH Pow 217 May 134 1 DO 7S or 1 1 30 I Gen Tira 1 35 84 July 94 4 33 4 ,2 127 4 38 4 4 41414 434 14 26 4 1 61 34 44 4 74 4 37.... 754 14 1 44 4 1.44 4 Do S6 pf eg 3 Do t7 of 7g 4 1 4 fieot. Dec. 1.44V Do 6s pf 6 1 90 125 Do 85 Pf 5 5.10 114 Puilman 3e 23 65 45', GilSafRaz la 35 454 14 iGimbPl 1 7 13 4 4 (Hidden ROe 15 iMcQ-Norris 1 1 28 4 1.44 4 4 Do 2nd pf 22 Ara-Ktw 63 3 1 Am tz Lea 13 37T. a 53Va 12 4- Mead 60a 11 iMelv Shoe 2 1 IMnael 40a 1 109 4 V.

Goe Brew 22 23 41 27 58 441 4 2 Goodall 1 4 saner Mar July ..1.33 Mi 6eot CASS GRAIN 108 'i AmHome 2.40a 3 Am Ice 1 I Col Carb 1.40a 3 Goodrich 2 4g psla Ma 24 3 Miami 4s 16 12 'a 15 Do Df 5 79'3 134 4 -4 514 4 28 4 4 144 52 4 4 1134..,. 26 4 494 4 124 V. 29 2 244 14 113 4 57 4 4 12 1 39 4 18 a4 104 Am Intl 45c 4 Am TnO Til AA 1 634 1'4 1M-C Pet 14g 13 4. 4 414 40 49 2.3 33 3 125 Wheat: No. 3 red and No.

3 hard. 1.79, Stl Pr 2 5 111'. com urea ij ComSolv 21 Com Ed 1.40 79 Com 8 1050 Do Pf 14 10 Cong-N la 10 M-H Res la 4 38 38 15 ceumt. nominal. No corn tales, XTm ..1..

4 Am Loc 1.40a. 24 Am MF .80 9 Am MA-Met I 4 Am Metal 1 8 AmNew2.10a 2 20 Minn Mng .80 3 Mmn-Molme 61 MinnSPArSS A 23 unit Dy a Un El Coal 1 15 iUnit Enir 2 1 Unit Fruit 4 3 'Unit Gss .85 18 Unit 120a 4 Unit Papered 17 jUS to For IS jUSFreieht 4 1 4 US Gypsum 2 4 Hoff lt 3 I US Chem la I iU3 Leather 18 Do A 2 4 US Lines 106 Do pf .70 9 Pipe 1.60 3 USPlywd .80 3 JiUS Real 82 Cfbodyear 2 Do pf 5 Goth Hos 1 grah-Paige ran Con Gran stl Grant OtNIO ctl4f GtN-Ry pf 3 con cigar i Pure Oil 4e 73 Pur Bak 1.60a 5 OR Oueker Oil 1 2 Radio S3 Do pf 34 4 Radio KO 255 Raybestos le 1 Payonier 23 Do pf 2 3 Reading Co 1 27 Do 1 pf 2 1 Real 8ilk 60 1 Reliance 1.20a 8 Rem Rd 1.20b 6 Reo Mot 1 4 5 RepubAv 33 Repub Stl 1 48 Revere Cop 20 12 4 ..3 19 4 4 614 14 34 4 4 224 174 004 194 444 24 1 374. 304 51 1 26 4 51 1 35 29 4 174 34 4 254 1 18 B7y4-: 19 4. 31 COITOJT Am pv 1 8 Do (8 Pi .7 Do 15 Pf 101 Am Rad .49 57 Cotton fq- GtWSus 1.20 A rmoy Investment FOR CAPITAL GAINS "Buy stocks on strike news" is an old Wall Street adage investors should bear in mind today. CLIFFS CORPORATION Common Stock Steels oppoar "behind the market" end Cliffs Corp, common, on interesting participation In the steel Industry, seems underpriced.

This stock is selling about 30 below Its 1937 high while the "market averages" exceed those of that year. OUR SPECIAJ. REPORT on fjifs company will be sent upoa request and without obligation. Member Let Angeles Stock Excbenge 621 S. Spring St, Los Angeles 14 MAdison 2121 nfiw mil 4j.

ijtvb tures closed 10 cents to 81.03 Jan. 23. (F bale 11 15 4 4 334 4 SS 1 4 R3 4 4 43 4 4 154 4 24 4 4 314 4 174 14 51 1 494 4 37', 4 3334 4 131 1 794 14 274 4 53 4 32 4 4 30 45 4 184 1,, 20 4 4 514 4 62 1 1.30 1744 5 85 4 V. Do pf 7 Green 3a Am il4- Do 1V1U1 Jl PL4' 8.16 Razor 2 3 Seating 1 8 Mill .80 31 17 Last 55 03 25 00 36 45 4 4 84 4 344 4 109 4 184 4 454 4 434 l'j 324 4 36 4 40 45 4 1134 4 16V4 .4 61 22 '4 4 3841 Greyh'd 140 GrAirEn 14e 4 10 34 4 13 49 14 17 124 ConCop .20 286 Con Ed 1.65 60 Do Pf 8 3 Con Laua 1 12 ConNGas la 5 CorRRCu pf 10 Con Vul 2 45 Do Tf 14 17 Sontainer 1 on Bak 4a 25 Cont Can 1 33 Do pf 34 1 ConDFib .40 19 Cont Ins 2 15 Con Mot .80 60 Am Am Low 24 90 24 90 54 80 9t Ji March Mb? July US Rub 2 18 ouan sugar 24 94 1 24.95 704 1 4 179 2 764 14 25.07 25 07 T5.00 24 62 24 59 24 52 spot. 25.77 1.60 102 4 14 uo ist pr 8 i US Smelt October 62 as 28 4 v.

42 130 2 23 do pr 5 to Gulf M47 Do pf 5 Gulf Oil la 84 it. i December 89 Mission 14g 4 I-K-Texas 179 Do pf 121 Moh Carpet 2 2 Mnud Hos 60 4 Monarch MT 2 2 Monsa Ch 2a 10 Mont Ward 2 18 Moore MrCLl 20 MorrellAtCo 2a 1 Motor Pr lg 6 Mot Whl 1 20 6 Muell Br 160 4 Mui! Mfg 4g 7 Murray 4g 17 Do rf 2 1 MyersABr 4 2 Nafh-Kel 4 48 Nat. Acme 2 12 Nat Airlines 13 NatAFib 18 jUS Beel 4 Reyn Met 1 10 Do pf 5 4 2 30 Reyn Sort 1 7 RevnTBl 15 4 247 24 35 24 59 24.50 156 4 2 614' 4 32 i I DO Pf 7 4 US Tob 120 2 4 Mlddlin nominal. 32 14 43 4 67" 4 494 4 43U 4 32 1 34 4 4 544 4 49 4 4 1904 I 92 4 ,4 67 4 1,4 64 48 Am Ship 3f 1 Am Smelt 2a Am Snuff 2 2 AmStlFdri 2 23 Am Stores 1 2 Am Stove 1 20 2 Am 6ugar 2e 14 Am Tob la 3 Am 9 17 Am Tob 3a 10 Am Type 'jg 9 Am Viscose 2 8 Am Wat Wks 60 H-I Hack Wat 14 1 Hall Print lb 1 iRheem 1 1 iRichfteld 'is 21 iRitter Co la 1 Roan Con 35 iurai eirs a Do rf 6 ConODel 1.60 28 Cnn Stl 2 3 40 4 244 16 304 114 4 27'3 324 LA. EXCHANGE "4 20 4 124 14 234 4 45 4 1 42 1 1 t- 28 :4 univ Lab 24 204 Royal Typ .60 1 54 if.

4 Ruppert V4e 1 Sales Hith N. (Th 39 14 2o4 4 27 4 4 43 4 1 15 4 4 154 4 15 HiUniv Pict 3 6 Last 8 Harb-Walk 1 6 Sch 160 5 s. Hat Am A 4g 2 3: i Hay Ind 4g 15 Bandml ad 400 5 4 1" v-w 'i'V Norm 1.1 Oe 5 2641 45. 37 2'j! i4' Safeway 1 11 264 oki i t'18' Jos Ld 2 5 62 2 ''ISav Arms 4 60 17 4 Mfe 19 JBlueOia 20g 530 74 Ch so 950 6 1'BdwyDpt la 740 52 32 4 :r.nt Tn ad 215 ISO 146 414 IHecht I SO Nat Aviat 33 Raalfe 2c 6 4 5 Vert Sue y- 6 Am Woolen 30 Do of 16g 3 Am Zinc 66 Anaconda 2'j 34 Anch HI IE 4 Cooper-B I Cop Stl .80 CornEx 2.40 1 Corn Pr 2 60 Corn-DEl .80 Corn Gl Cotr .30 Coty Int Crane la Do pf 3i Cr CfcS 14s Do 82 Pf 2 Cr Zell 1 Do 84 pf 4 3654 1 4 iNat Battery 3 16 12 10 12 4 8 25 1 3i 23 1 6 4i Rchenl.v ts 1514 11. 234 67 664 27 37 114 6'4 404 109 57 '4 52.

29 4 Chrysler 3 60 1344 144 a 474 14 47 i i Scott 1 80 1 1 Chem 2 190 38 4 14 lccnemi ion 37 X. 1 Here Mot 1 Pdr 24 iHersh Choc 3 iHoll'd Furn 2a 3 1 Holl Son lb i Holly Sugar 1 304 12 RR wi 29 4. 14iS-abrd Oil 1 6 59 iva Chem 4 14 Do pf 4 1.30 113 A Clayt 7 45 28 4 Bid Asked Bid Asked Do of wi i Tit'. 13-. IVa 24 Host A-A! 140 145 insurance 1 754 14 1 42 4 4 84 4 2 49 4 4 2 44 1 2 78 i I Sl5 10 114V.21': ol OL.

O.L. 1 IV. Homesrake 9 4 29 4 14'. 4 V4 0i 85 120 1194 Bisc 120 21 90 V. 14 Nat Can 24 60 la 12 26 4 Nat Contain lb 5 32 Nat Cvl 5 534 4 NtDairvl.40 22 254 4 Nat Str la 13 314 4 Nat Distill 2 68 88 2 Nat E48tos 3 4 264 4 Nat Gvps 4 37 53 4 Nat, Lead 4a 8 ll'ij.

i Nat Lin Sr 1 10 Cons Stl la Flee Prod 1 Exeter Oil Farns Teley rits Str .40 Gen Mtra 3 Goodyear 2 Hancock 2a Hunt Foods In te recast LA Inv so Bost Edis 47 Bos'ElRR 80 BdvDSof 104 Aetna Am All Am Caa 700 38 300 310 70 225 647 500 49'4 i'4 Houd-Hershev 17 43 1 Hseh Fm 1.40 9 Seanrave 2 144 Do Pf 1 Sears la 88 42. Pf 44 Servel 124 21 4 1 4 Wa dorf la ShamrkO 40 27 274 J60 Sharon Stl 1 8 35 ker 4 Do of a 1 in in? iU. Wal-th 'iff 125 2 Low .51 145 134'. 354 17 4 1 oo 184 9 754 674 90 32 4 1 05 201 1 05 1 tJ 44 4 814 ll 4 204 4 40' i 414 1 814 1 4-4 24 29 4 14 35 4 4 Crue Stl 2g Cuba RR pf 3.20 i 3. 12 CUO-AbUg Bullock's 39 Mi' CalEPPf 71 CalWapf 271 Houston Oil 65 38 14 4 Cud Pk 1 20 47 414 ASAOENA 714 Satvrlty luildint POMONA 401 First Nol Sank lldf.

H0UYW009 381 Hollywood Bird. 10N3 IEACH 01 SKiiflty lulldias KIVIUiDE Cllism NeVI task Hds. sakta ana 16 First Nat Sank lldg. Howe sn i 60 4 harpD 'ir 7 244 1 4 aratsax 1 0 APW Prod 17 Arch-D-M 1 Armour Co 97 Do pr pf 5k 3 Arm Cork la 5 Arnold 'i 1 Artloom .40 4 Assd Dry 6 AT SF 8 11 AM Coast 4 4 AtlOAWInd 3r 2 Atl Ref 1 14 Atlas Corp 8 Atlas Tk 1.80f 2 Aimr, Nichols 1 24 4 1 Huds Man 39 Am 60 4 AmlnsNk 194 Am Rea 20 V4 BaltAmer 7V Fire Fd 110 FtrelnNk 16 4 Frank 25 Shettuck la 1 1 1 05 184 9 754 684 334 1 05 202 1 05 74 .32 155 its: 4 34 4 25 I4V, iy ill 17. 7 13 Mi 5 32 I Mascot 250 120 214 1 6 ShellOil 14a- 11 57 4 25 4 19 374 4 27 27 4 4 14,, 34' 4 164 314 4 IV 22 l.

iarner ric i 32 4 i Warren 80 2 13 4 IV, 1 48 2 jW-auk Mot I 2 38 4 4 244 14 73 4 4 84 234 4 38 4 1 cims as- Cons Rck 2' Finney 121 ed Wa 22 FifthS6tr 18 Filtrol 31 i Silver Kine 36 i Simmons 1 4rT 7 614 4 114 844 14 34 4 14 Nordon 800 'Occiden Pet 2G0 Oceanic sp 5850 Olens NatOilPr 1.10g 1 Nat A Lt 132 Nat Strel 3 6 Nat 1.40 3 Net, Supply 20 1 UO Pt Huds Bay h2 Huds Mot. .40 Hunp Motor Idaho Pw 160 111 Central Do pf Wayne 3 411 OL IFIS 53 IIs, Fls 53 3T'-Vi 84 4 40 4 424 4 81 1 54 52 150 1344 34 174 1 00 184 9 754 684 33 4 I OS. 202 1 05. 74 tr. 1 55 444 614 .9 16 4 324 .12.

4 194 82 4 46 Va 194 614 254 80 bimondsetl 2c 1 Sinclair 1 182 15' 39'. oreat 12 35 35 3 22 2 11 4 7 OladdenPr 3 Mi Orinnell 31 II 9 32 7 3 78 Ftanov DO 2 pf 2K 3 19 Cun Pr 140 2 Curtis Pub 156 Do pr pf 3a 2 Curt-Wr 4b 121 Do A 2 10 Cut-H 14a Dav Ch 14g 2 DavPftLpf 4 4 1 Dec Ree 1.20a 2 Deere 14 22 Do pf 1.40 6 Del A- Hud 4 5 Del 63 Det Ed 1.20 9 DevR A 9 Diam 14 1 Kartf 122 51 85 110'i 42 294 32,. 2'i 14 24 "4 1934 '4' 33 '7, 25 4 2 3 I7 11. 44 -li 11. 25J4 22 1 3 17H 550 280 Hearst pi 1.20 'lilnd El De Me Do pr A 6s 1.90 119Mr lMj Autocar Co 2f 9 33MJ4-11' Rep Pet ap 4 1..

1 1 i IZ1. Inter Air 24 31 26'i 184 14 304 59 4 i wees ter Tob IWe.s Oil la WIndSurt la IWVaPap .20 West Air IW Auto 14c Maryland I Do 2nd pf Pac 3 Do wta 200 Do wta Keiser-r Aviation 20g 403 1 Ind Rayon 2 19'i 22 4 4 85 3 184 .7 4 4 56 4 1 37. 234 62 4 1', Shell Un 4a 65 Shell Dn 4a 324 Sloss Stl 1 4 i Smith AO 1 2 4iSocony -a 152 4 SoAGold 20r? 5S 4S Su 2a 4 tjIPEGreyhl 60a 1 ISO Caf Ed 14 2 4'SNatGas 14 22 O.L, 214 39'-i 15'a Kero Cty 21 73 Va 64 254 113 544 45 39 46 4 16 4 25 4 34. Do 2 12 4 ilnger-Rand 5 4 Insmr Cop 1 12 zooo 300 Snuasen no nf 4o.i!XliI Sierra Tr Pet cal 91 Sinclair 1 104 38 44 "4 614 la 194 LA Shlcb uo or 484 2 SCEdlB 14 unrercnem i 60 Rub 8 'Interl Ir 4e 81 4 ilnt Bus Ma 6b 1 we5T un 34' 514 4 1 A 2 12 14f 8 31 4 14 Nat Tea 2 214 10 804 24jN8tomas 10 142 Corn 4 5 194 iNeisner Br la 1 52 4 14 Newberry 2 104 4NTetnont 14 3 47 4 Ind .80 7 22 1 I Not News 2a 20 944 Air Br 2 2 114 PP 1- 89 32 14 INV Chi to StL 3 104 Do pf 394 4IN-YC Om 3 1 44 4 4ny Shinb 3e 8 121 1 to 10a 2 43 4 4 wAirar 94 4 COMPLETE INVESTMENT SERVICE Livingstone Go. 390 445 261 228 167 250 143 26 68'- 41 Home ins jo MerMfn 74 Nat Lib 7Vi NY Fire 15 No River P'd AceH 411? rs TtoO 48 'i Weatch 40 Banks Bkrs Tr Mi Ek Manh 32.

Chase 45 Chem Bk 824 CentlllN lllVi OuarTr 379 Irvine Tr 20 Mfrl Tr 65 i l. 12 l'i O.L. Diam TM la 6 1 4 In'risrv 2. 60a DO 68 1 Va So Pac 4 StdOilCal 2 Sunray ,10 TransamVja TWA Bald Loco 14 39 Bait to Ohio 79 Do pf 11 Barber Asph 1 7 Barker Br la 4 Do pf 2V4 2.90 Barns Oil .80 37 Bath Iron 4 21 BavukCig 14a 4 13 r-rAam 1 IHi 19 1004 31 36 4 4 29 4 4 45 4 14 44 4 4 49 14 55 4 234 i 23 4 4 45 4 64 14 int HVO-Fl A Int Mi-Ch 1 35'. 374 314 624 44 194 614 254 24 80 J8 4 374 4 44 4 50 4 4 9i5 4 304 4 43 1 37 454 194 614 25 23 4 80 1H4 1 854 68 23 "IiiJiWeston El 3 12 liiWhlne Stl 4e 3 19 4 1 Do pr of 8 1 .20 434 1.20 2 37 'i iaji White 1 4b 8 f8 i White Sew 14 8ii Dix Cup 4e 2 Do A 2 "4 1.90 Doeh-Jarv 1 12 Dom hi.

20 14 io 1784 IsTSstmsnt Securities 50 Pacific 4 36 South Ry 3 13 Do pf 5 3 Spaldinpr .40 10 Sparks W.20 20 Spear Co 3 SoencKel 1.80 2 Sperry 2 38 Spicer 3 1 Spiegel 13 bo pf 44 3.40 Square 3 2 Sainbb 2 StdBrds 1.60 9 UnOilCal 1 32 8 15 41 17 4 4 75 1350 34 4 55 1 4 128 14 354 204 4 272 15 334 4 344 4 113 4 lU 844 unt Mining 23 1 ilntNickC 1.60 27 4 Paper 924 141 Do of 5 164 4 ilnt Ry Ara 31 4IInt 42 184 Doug Air 5g llS'i 385 21; WilcoxOil .20 9 114 os vra pi juo 111' I Beech Aire lg 11 iDnw Chem 3 PRIVATE WIRES Saa Praneise I8 51 4 24 4 4 2l t'S LATrLine 101- Mat BT 5' MohawkP 124 PaeAlrmo 103 FacAmlnv 5' Do pf 234 Pee Mnt. 204 Plomh Tl 15 Mi PSvColo 39 V4 PSv Ind 38 Mr SD 191V T3o5snf 25 "i Seah Fin 13'4 Thnltyn 27 Bonds AsOF4s 63 BdvSA3s 80 CalConjs 97 ConOfrSs 74 ConRrk3s 87 MarbleSs 128 Held-Hem .80 Pt Tork 25 4 4 MINING STOCKS La AaSIa 27' 50i Nat City. 47'i 12 2 16 2Hi DO tor Ct 224 4 VAm Aviat It 26 294 4iNAmCo.45f 69 294 4iNo Pac 38 44 iKStaPw Pf5 180 284 14 Vwes'Airl 4 7 4 1 6oi4 Black Mam 9000 15 15 Dunhill Int DuDlan Coast Issues 15 24 .01 05 34'i 24 'Int Str 1.40 2 '4 46 4 2 1 I iconscnouar ztw 24 S2v Imperial 2000 07 37 a DuPdeN S4a 14 186 1 iintertype 714 5i 51 .07. .22 44' i 14jStd 84 pf 32 839 So. Spring Street LOS ANGELES 14 MAdiaea 7551 4 Isl coal 2 317 Montgomery Street SAN FRANCISCO 4 Xbreebf 4jpnaa yjt iu.juu .4 Am Tr 6F 68 Do of 62 Bk Amer 45 4 Calif Bk 68 48 Norwnre v4e in Norw Ph 10 4 X' pr Pi 1 Do 87 nr Df 1 Bell Aire le 25 Beil 4 2 Bend Av 24g 8 Ben Ind 1.20a 2 Best Co la 2 Best Foods 1 12 Beth Steel 6 18 Do pf 7 i Btgelow-San 3 2 1 60 3 Blaw-K 17 84 SI'" 29 O-P 15 4 294 7 103 93 134 1134 156 62H 60 79U.

Ctf.iB Nat 89 e-lst Nat Dlvidena rate is annual unless otherwise1 shown, xd Ex-dividerfd. Ex-nht. i a Flus extra, Includins extras, ad As declared, so Special, a Paid last; Tear. Paid this year. O.L.

Odd lot.1 Willys Over 47 Wilson 31 Do pf 44 1 W'llson-J 1 Wdwrd Ir la 5 Woolwth 1 CO 24 Worth 14 16 Wnaiey 3 Wyand .80 YaleT 60a 10 York Corn .30 6 Younjr Snr 1 2 14 YncSUDr 1 10 Zenith lc 6 Zonita 'rr 1 IStdOilCal 2 68 21'i V. StdOillnd la 38 NJ la 39 174 StdOilOh 80a- 18 Title Ins 29 14 14 55 4 4 294 1 38'4 14 .26 4 4 103 2V. 155 2 7., 4-14 384 14 24 4 4 31 48V. 24 314 14 70 2 394 4 185 14 43', 1264 a. 136 4 46 4 414 66 i 24 21 48,, 2 234 28 Ti 1R7 Ohio Oil 4a 95 Oliver Corp lt 6 Omnibus 1 20 Opoen Col 'ie 1 Otis Elev la 25 Q-Il! Ol 4i 5 Pac Coast 1.10 1 FE 5, 61 103 PortE16 148 8ubway4a 91, 14 94 Preferred Common Arden 25 27 Doef 62't AsTelpf 24 BerkFBA 37 39 Eag-Pich 5 East Air 5 EastSStl 4e 1 East Kod 24e 9 Eaton Mfg 3 3 Ed Br 8trs la 1 Ekco Prod 3 Elas Stop El A-Lite 3 14 El Boat la 20 08e 234 El 119 Do $6 Pf 1 Do 87 pf 1 El St Bat 2 4 E1P NOas2.40 8 i7f 814 19ii 2.40 1i Starrett 2 2 4 StewWar 4a 18 Stokely VC 15 Bl'dale .90 telBS5s 102 1074 2 So'.

29 1 1. 41 '4 Boeing Airnl J-K Jacobs FL .20 Johns-M 34 1 to Stl 2 53 Do pf A 5 3 Do pf 5 8 Joy Mff 7 Kal Stove 80a 4 South 38 Do pf le 3 Kayser 1 4flf 4 K-HWhl A 1 4 5 Do 14 5 Ken Coo 2 4 42 K-Clarlt 14a 1 Kinney OB 1 Kopperi 1.60 11 Kresne 1.20a 7 Kress 8 1.60 1 224 .4 142 1 474 4 103414 140 4 24 31 324 Vt WWW 28 4 a 53 4 3. 65 414 17'i 4 40 4 1 4 .364 4 47 4 474 Vt Do 2d pf 1.10 Pac Gas 2 30 Pac Lisht 3 3 PacMills 24ff 8 37 4 45 61 714 Bonn Alum 3 Bond Str 1.40 Do pf 44 Borden l80g xd Ex-divldend. do or In 21 Studebkr 4i 24 214 224 32 4 XT EX. 4.

riKnul. a A I in rirtri mi. PacTel 64 1.10 151 61 1 Borg-w. l.BO Ja'tras Plus stock dividend. Cash or atock.

Paid last year. f-Payable in at.rk Boston At Me IB 1 Emer El 29 214 Declared or paid far 21 4 111 14 33 4 233 4...,, 66 4 4 57 4.. 374 i4 114:... 734 4 2242 74 i 234 14 1434 1 1544 14 55 4 Vi 514.... 28 4 244 81444 364 1V.

106 107 34.... 22 V. 4 91 1 214 4 28 4 2 61 14 84 4 34 4 4 18 4 "a 254 4 50 34 tuncnem.45e 11 un Oil lb 2 Surrey .30 43 Sunsh .40 13 Superhtr la 41 SuperStl 1.20 10 Suth 120a 1 Swift 1.60a 10 Pac nn Cons 15 PackMtr.151 180 Pan Air 4e 124 Pan Pet 1 PanhPL24e 20 PanhanP 42 Paraffine 2a 1 33 Vf this year, Payable in Ca. 244 4 18 4.. 444 14 13 4 78 24 i paaian tunas.

Aecumu 397i I', uated dividends caid or 3K1. elared this year. Fm Rad End-John 3 En Pub Do 85 pf 5 Do Pf 5 4 Eq Ofc Bids Erie RR 1 Kro eroe 4 Lac Oas 304 22 1 1 21 131 1 49 4 534 14 114 4 32 1844 814 14 58 413. 34 4 38 4 194 4 244 24a 36 1 42 2 4 404 4 43 4 4 184 4 144 4 27', 4 7 .4 LOCAL GRAIN Los Angeles Grain Exchange Quotations nominal. Prices per tn Carloads only.

No. 1 hard or soft white wheat, bulk, no euotes; grading barlev. 46 bulk, no No. 2 nets. 35 bulk, no quotes: No 2 yellow corn.

bulk, no auotes: Ne. 2 California milo. sacked, no auotes. CAR RECEIPTS Wheat, 15: barley. 6: corn.

12: oats. 2: flour. 5: cereal, 9: alfalfa. cotton seed. poultry feed.

peanuts. coffee, 2. HAY PRICES Federal-State Market News Service Bay delivered, f.o.b. Los Angeles, per ton: No. 1 29.

50S 33.50; No. 1 oats. 29.50 33.50. Alfalfa. 8.

No. 1. 34. 7538 60: S. Vn.

2 leafy or No 2 green. 33.75 0 38.10; VS. No. 2. 32OO33 00.

14a 7 lLane Bryant 1 4 Lee RAT 2a 1 Branitt Air .60 6 BridDt Br .60 12 Briges Mf? 2 7 BriEss Ac St 1 BklUGas 40e 3 Brown Shoe 2 Bucy-Er 10 Budd Mfg V4g 28 Budd Whl .60 26 fuf Forge 1.80 2 ullard Co 2 6 Bulova 1 4 Burling la 28 Burr Add- .40 44 Bush Ter 9 Butler Br 14 Butte Cop 4e 33 Byers AM 21 Byron Jack la 2 Do pf A 5 Eur Wins 10 18 this is under no circumstences to be construed an offering of this Stock for sale, er i offer ft buy, is 4 solicitation of en offer to buy, mny of such Stock. The offer is made only by means of the Prospectus. January 23, 1M" 162,500 Shares Dallas Railway Terminal Company Common Stock Pw Vmiae Evans pr 584 24 484 68 164 4 42 4 1 4 54 57 V. 1 4 16 1 554 4 28 4 2.60 4 4 1 EX-C-O Ex But Led 1 41 Leh Port 1 4 Leh Coal 113 Do Pf 12 Leh Val PR 78 Lehman 1.20a 22 L.fcFinlcl.40 5 Lerner8trl4 7 FaJ Stl 2 15 Farns Tel 23 Fed Lt 148 3 4 1 34 14 Mm 3 4 Fed 344 California Bank Common Stock and Rights BOUGHT SOLD QUOTED Report srailsble opem request Notice of DIVIDEND No. 19 INTERNATIONAL DETROLA CORPORATION DETROIT, MICHIGAN Directors of International Will Your Investments Take Advantage of Market Movement? Stnd for Tret Dtscriptivt Uttrtturt en What flannel Invtrtmmt Timing Ctn Do For Yon.

Price $23.25 per share Nam. Blyth a Inc. 215 West Sixth Street Los Angeles Addreil Detroia Corporation have declared a quarterly divi- dend of twenty-five cents (.25) per share to be paid February 1, 1946, to stock-; holders of record at the close Copies of the Prospectus may be obtained from such of the several underwriters, including the undersigned, as are registered dealers in securities in this State. The First Boston Corporation Blyth Sc Inc. W.

C. Langlcy Co. Merrill Lynch, Pierce, Fenner Beane BUCKLEY BROTHERS 330 West 4Hi St. Los Angelef 1 4 TRinity 43 44 WAU STim; YOKK CITY Mmhn Ntw York, AngiUs, fhiUidphU ni New York Citrh Stock Exebtmget BmitLT Hill Saw Drsoo Lovo Beach Pasadma Sauta Badbaha i of business, Jan. 17, C.

Russell Feldmann! PrtmAmt.