The Brooklyn Daily Eagle from Brooklyn, New York • Page 15

COMMODITIES BUSINESS CLASSIFIED BROOKLYN, N. WEDNESDAY, AUGUST 2, 1939 15 BROOKLYN EAGLE FINANCIAL SECTION A.B. A. Speaker 265 Firms Earnings Today' Marked Steel Makers Optimistic on Output Trend Heavy Demand or Utilities and Rails Sends Market Upward-jTrading in Good Volume BMT Holders Receive Terms For Payments Sums Allocated to Various Securities Under Unification Gerhard M. Dahl chairman, and House Junks 800 Million Housing Plan F.

I). Final Requests Cut by Committee In a Further Rebuff Continued from Page 1 Safeway Stores, Eastman Kodak Gain 88 Over 1938 Colgate-Palmolive-Peet, American Woolen Show Substantial Improvement This Year The aggregate earnings of the first 265 industrial companies who have reported Xor the second quarter of this year amount to $198,104,770 as compared with aggregate earnings of $105,261,593 reported for the June quarter of last year, an increase of $92,843,177 or 88.2 percent. and Douglas were unchanged. Further Upturn Seen Averages Compiled by Dmo-Jfnts INDUSTRIALS Much interest was expressed in the effect the lending bill defeat This Month Despite Auto Plant Strikes 1939 High, 154.58; Low, 131.44 11am 32 m. woud have on the market, with divided opinions.

One group held tlut it would exert an unfavorable lnluence because it eliminated 143. 27 .01 144.13 .77 144.23 1 .87 Steel producers are growing more optimistic over the current outlook, E. H. Little, president of Colgate- 2 p.m. 3 m.

144.45 1.09 RAILROADS 1939 High, 34.33; Low, 21.14 Ur.i it 4U fu'ther Government spending for retovery, while another held the ation was favorable in that it ln- are forecasting a further rise in William S. Menden, president, of the Brooklyn-Manhattan Transit Corporation and Brooklyn Queens operations before the end of this Palmolive-Peet reported today 1 "'c OI "le eight years in behalf of the com-that his company earned a net mon man will be killed as soon as Income, Up 47 month, the magazine Iron Age said dcated a further assertion of Inde (endence by Congress. 11a.m. 13 m. 'in.

29 30 .04 29.46 .20 29.41 .19 2 p.m. 3 m. profit of $2,427,093 in the first half today. the reactionaries can get in their work." Transit Corporation, are notifying security holders affected by the pro UTILITIES PICK IIP The trade Journal reported that In the second hour heavy demand posed unification plan of how much of 1939, an Increase of 47 percent over the $1,646,421 profit in the fame 1938 period. Profit for the 1939 half production remained unchanged this week at 60 percent of capacity, but stated that "only the retarding in city or New York corporate stock or, at the city's option, cash is due them upon consummation of the plan in 29.58 .32 TILITIES 1939 High, 26.32; Low, 20.71 11 a.m.

12 m. 1 pm. 26.38 .12 26.85 .61 26.77 2 p.m. 3 p.m. 26.81 .57 I later edition, for closing aver5- fluence of the General Motors strike The adjournment rush was on.

Action on the final Deficiency Appropriation Bill of the customarily the last measure to be shoved through Congress Just under the adjournment gun. MAY ACT ON WAGE-IIOl'RS is equal to 88 cents a common share, compared with 47 cents a lor utility shares turned the entire market higher. On gains of about a point new highs for the year were reached by many power and light issues. Among these were Public Service, Engineers Public Service and American and Foreign Power 6 exchange for each $1,000 of deposi which Is delaying work on new models, has prevented a higher year ago. ted obligations or each share of deposited preferred stock.

Sept. 30 is operating rate." AMERICAN WOOLEN INC. the deposit deadline. and 7 preferred. The latter's 6 Six months ended June 30, last, profit $357,670 after charges, but before Federal income taxes, compared The notification listed the various After an uncertain start the Scrap at New High ket', under the lead of indurfals with loss of $4,750,487 in 1938 half Pittsburgh, Aug.

2 Advancing to gained 3'4 points to establish a new high at 128's. Bethlehem, Chrysler and U. S. Rubber each gained almost a point. U.

S. Steel and Gen and rails, which were in hea de Six months sales $30,719,436 com the highest price since October, 1937, No. 1 heavy melting steel scrap pared with $16,746,242 in 1938 half, Preston Delano Controller of the Currency, will be a speaker at the sixty-fifth annual convention of the American Bankers Association to be held at Seattle, Wash, Sept. 25-28, Philip A. Benson, president of the Association, announced today.

R. E. Gonnley and Fred I. Kent will also speak an increase of 83 percent, today was quoted at from 116 to eral Motors showed small gains Rails had narrow advances. ADDRESSOGRAPH-M I $16.50 a ton, an advance of 50 cents Sales for the second hour totaled GRAPH CORP.

and subsidiaries- a ton. six months ended June 30 net profit securities, and the amount to be paid on each, as follows: BROOKLYN-MANHATTAN B. M. T. rapid transit collateral trust bonds, 414 percent series due May 1, 1966, and serial due May 1, 1940 to 1951, $108,000,000 outstanding, $950 for each $1,000 bond deposited with Manufacturers Trust Company and the Brooklyn Trust Company, respectively.

Brooklyn Union Elevated Railroad Company first mortgage gold bonds, due February, 1950, outstanding $15,882,000, $950 per $1,000 bond The fate of other legislation wat uncertain. There appeared to be chance that House action wouid be had on the controversial wage-hour amendments for which a rule has been reported by Sabath's committee. Sabath said, however, he was not at all sur? what would happen to the wage-hour bills. Rayburn was reticent after the conference in the Speaker's office. He declined to make any statement on the leadership plans.

The junking of the housing bill was not unexpected. It has been known that, the measure would face even greater opposition than the main lending program of which it was intended to $503,032 or 67c a share against or 81c a share in 1938 period Mills In the Youngstown and Buffalo districts have steped up their June quarter indicated net profit operations and southern Ohio pro Mack Heads $243,201 or 32c a share against 300.000 as against 170,000 yesterday, with most of the activity concentrated In the utilities. BONDS SHOW PROGRESS Bonds were easy in moderate trading as the session got under way. Top-flight issues were generally unchanged, while second grade and speculative issues were responsible for he greater portion duction is expected to move upward mand turned about face i fair amount of trading and prices the whole advanced. Volume less in the last hour but prio held.

Near the close the prices jfe near the best of the day. Utiles continued strong. Steels ai motors were slightly higher. Gins were In fractions. Western Union and, B.

M. T. reached new high grouf. HEAVY AT OPENING At the opening theftaiket was dull and prices showe a declining trend. Losses rangerto about a point In some major lues.

United States Steel ODened 51, off Ti; 150 or 40c a share in June quarter later this week, the magazine said 1938. AUTOMOTIVE OUTLOOK AMERICAN POTASH CHEMI Pepsi-Cola Co. CAL CORP. Six months ended With the exception of General deposited with National City Bank June 30 estimated consolidated net Motors, it continued, automobile profit $1,338,667 or $2.53 a share companies are making rapid strides of New York. Kings County Elevated Railroad of the minus signs.

As the session progressed traction bonds came in for a flurry of activity on the up be a corollary. against $940,746 or $1.78 a share in toward bringing out their 1940 models Company first mortgage bonds, due Aug. 1, 1949, outstanding $6,269,000, and a number of advance showings are expected by the middle of August. The bill would have permitted the U. S.

Housing Authority to increase side. Interborough 5s sold at 64:, New Board Chosen At Special Meeting-Mitchell Is Elevated "Although the placing of steel ton 1938 period. DIXIE-VORTEX CO. 12 months ended June 30 consolidated net profit $819,979 or $1.84 on common against $812,519 or $1.80 on common its bond issues by $800,000,000 to upl; Interborough 6s gained over a point to 33' i. Manhattan Railway $950 per $1,000 bond deposited with Chase National Bank of the City of New York.

nages for public building construe finance low-cost housing in slum E. 11. Little tion may not be quite as brisk from areas. 4s gained 3i points to reach 65 Brooklyn-Manhattan Transit sold at 80'4, up 2U points. Holders B.

M. T. preferred stock, Series Walter S. Mack Jr. was elected in preceding 12 months now on, the Iron Age said, "any deficiency in that category probably GANNETT CO.

Six months President of Colgate-Palmolive-Peet Company reported earnings for his company in first half were 47 percent above last year of T. bonds were formally re president of the Pepsi-Cola Company yesterday following a special meeting of stockholders who chose outstanding 249,468 shares, $65 per share deposited with Central Hanover Bank Trust Company. BROOKLYN AND QUEENS ended June 30 consolidated net profit $645,090 or $8.60 on $6 pre Chrysler 81 off Westinghouse Electric 1073n, off International Harvester 54, off Bethlehem Steel 61 Ts, off leneral Motors off ConJidated Edison 32. off Amcan Telephone 167U, off and'orth American 237i, off Southern Pacit and General American Transpiration had small gains, while Gair and Woolworth, Texas Corporate Socony-Vacuum, quested today to deposit their securities in connection with the plan a new board of directors ya vote will be more than made up by the increased requirements of the auto-Industry. Moreover, tin plate production has gained 4 points to 69 percent, the increase at this time pointing to the care with which can to deposit their securities in con- of 97 percent of the shares present Brooklyn City Railroad Company ferred against $595,857 or $7.94 on $6 preferred in first half of 1938.

HOLLAND FURNACE CO. Six months ended June 30 net profit nection with the plan for unifies tion. Interest in traction securities has been helped along by reports of Power Output or represented. Mr. Mack is chairman of Loft, which owns 78.5 percent of the outstanding Pepsi- progress toward unification.

first consolidated mortgage bonds, due July 1, 1941, outstanding $830 per $1,000 bond, deposted with Guaranty Trust Company of New York. Cola stock. He is also president THE ITEMS AFFECTED Biggest single item in the reduction by the Appropriations Committee was a refusal of $119,599,918 to restore impaired capital of the Commodity Credit Corporation. A $2,000,000 request to expand activities of the wage and hour division was eliminated entirely, although it was noted the needs of this new agency were difficult to foretell and funds may have to b3 voted next year. Eliminations included Federal Communications Commission, -000; Securities and Exchange Commission, Agriculture Department, $238,900.

Reductions included: Civilian pi makers have been watching inventories of tin plate." GOOD EXPORT SALES Commenting on steel export trade, the magazine asserted that this for $132,944 or 21 cents a common share against $120,365 or 16 cents a common share In first half of 1938. June quarter net profit $291,588 or 61 cents a common share against of Phoenix Securities Corporation, principal owner of Loft shares. Outlining the conditions of the Brooklyn, Queens County Subur ban Railroad Company first mort company at the present time, Mr. eign business is providing one of the Rise Is Sharp Edison Report Shows PastWeekll.8Over 1938-New Year High Electricity production In the week Mack told stockholders that Pepsi-Cola had about 400 franchise bot strong features' of current steel Bank Jsserts Calm in Europe MeansMore Trade Gains Here Natioal City Survey for August Finds Condions Favorable to Steady Advance $316,777 or 65 cents a common share in June 1938 quarter. PURITY BAKERIES CORP.

28 weeks ended July 15 consolidated net profit $874,300 or $1.13 a share demand, and predicted that aDroga gage 5 percent gold bonds, due July 1, 1941, outstanding $1,409,000, $580 per 1,000 bond, and first consolidated mortgage 5 percent gold bonds due July 1, 1941, outstanding tlers in the United States, about 100 in Canda and about 60 In other tion of the United States' treaty with Japan will have little or no effect on Japanese purchases of parts of the world. In a few places, he said, Pepsi-Cola was outselling in bottles any of its competitors In the essential materials here. It noted, however, that the United States may 000, $500 per $1,000 bonds, both to be deposited with the Chase National Bank of the City of New York. OTHER SECURITIES lot training, cut from $7,300,000 to grants to States for unemployment compensation, cut from $20,000,000 to $12,500,000: naval pub ended July 29 soared to new high ground for the year and the second cola field and that plans were being made for Improvements through, or The recentAisiness upturn is not restrict scrap exports next year by Imposing licensing restrictions. ganization and promotion.

highest total on record, the Edison Electric Institute report revealed Brooklyn City Newtown Rall- against $462,417 or 60c a share in 28 weeks ended July 16, 1938. 12 weeks ended July 15 net profit $484,661 or 62c a share against $276,112 or 36c a share In 12 weeks ended July 16, 1938. STANDARD OIL CO. OF CALIFORNIA Quarter ended June 30 net profit $3,891,587 equal to 29 cents a share against $8,282,949 or 64 cents a share in June quarter 1938. Six The Iron Age reported a further lic works, cut from $5,625,000 to likely to suf any setback for some months at ast, barring an up today.

Output for the latest week heaval In Eope, according to the august letteof the National City purchase of strategic minerals, cut from $25,000,000 to $10,500,000. Congressmen Sail, strengthening of steel prices, asserting that a number of consumers have tried without success to add to the low-priced commitments obtained during the "buying spree" of last May. amounted to 2,341,822,000 kilowatt hours, an increase of 11.8 percent over the 2,093,907,000 kilowatt hours Bank of Ne'York published today Road Company 5 percent consolidated first mortgage bonds, due July 1, 1939, outstanding $1,850,000, $750 per $1,000 bond, deposited with Central Hanover Trust Company of New York. Coney Island Sc Brooklyn Railroad Company first consolidated mortgage 4 percent 50-year gold bonds, due July 1, 1948, outstanding NEW FOREIGN PLANS Plans are also being formulated, he said, to organize franchise bottlers in Europe and South America. He said that W.

B. Forsythe, a Canadian, has been put in charge of this work. His headquarters will be in London. A Cuban plant, Mr. Mack said, had been finished and would begin operations within ten days.

It will be the center of op ness men and undoubtedly has been a factor in the better feeling prevailing." Referring to the recent advance in steel operations above 60 percent of capacity, the bank said: "Despite the rapidity of the rise in recent weeks, output apparently has been running not much In excess of demand. Aside from some production anticipating automotive needs, the rate has been sustained by structural and engineering requirements, along with steady miscellaneous steel buying. Strength and activity In the scrap markets supports ex Stating tit industry is proceed ing with anion ana tnat, in $7,117,604 equal to 54 cents a share Criticize Roosevelt Steel scran prices fololwed a produced in the like 1938 week, and the highest since Dec. 24. In the preceding week production ventories aiin sound position, the In first half of 1938.

totaled 2,294.588,000 kilowatt hours, bank expr6ed gratification over the manne in which business Is similar upward trend this week, with advances in Pittsburgh, Chicago, St. Louis and Buffalo lifting the Iron Age scrap composite 4 cents a ton to rn ten Representatives sailed down the AMERICAN CYANAMID a gain of 10.1 percent over the corresponding 1938 period. PANY Six months ended June 30 000, $620 per $1,000 bond, deposited currently nving forward. "Contrlbing also to the lm erations for Central and South with Guaranty Trust Company of $15.17. New York.

America. All subsidiaries of Pepsi-Cola are wholly owned, according to consolidated net profit was or 80 cents on combined and common, against or 19 cents, on combined common In first half of 1938. June quarter was pectations that the production rate provementn sentiment, and reflected lnilgher security prices," the bank sd, "has been the showing of copration profits for the Nassau Electric Railroad Company first mortgage 5 percent gold Mr. Mack. Directors elected were: Arthur T.

U.S. Employed Vanderbilt, former president of the American Bar Association; Harral ROCKY MOUNTAIN REPORT Continuing to reflect extensive irrigation operations, the output of the Rocky Mountain region recorded the best year-to-year rise for the sixth consecutive week, with an increase of 16.9 percent. The West Central area registered the smallest gain with an advance of only 3.3 percent. The following table shows per $1,109,236, or 41 cents, on combined common, against $430,572, or 16 cents a share, In June, 1938. Highest Since bay today aboard the Mormachawk, bound for the Inter-Parliamentary Union Congress to be held at Oslo, Norway, Aug.

15. Several of them severely criticized the Roosevelt Administration and explained why they voted against the Lending bill. Senator Lynn Frazier of North Dakota said he was "afraid how the Administration would spend the money. The Administration was too familiar with the Tammany Hall system before they came down to Washington. Now they play the game the same way.

There is too much politics in everything." Representative Harold Knutson S. Tenney, executive vice president of the Marine Midland Trust Company; Mr. Mack, James W. Carkner, AVIATION CORPORATION and December, '37 subsidiaries Six months ended May 31, 1939, net loss was $1,000,207, president of the Loft, Edward A. LeRoy treasurer of Phoenix will be well maintained in coming weeks.

AUTO SALES HOLD "With reail sales (of automobiles) In recent months holding very satisfactory levels, dealers have been able to reduce stocks, so that the industry enters the new season in good shape statistically especially so as regards used cars." The bant noted that the non-ferrous metals which, it stated, are often regarded as a barometer of industrial activity, have been "active against net profit of $388,993, equal to 14 cents a share for six months Employment in the United States centage cnanges irom a year ago for the latest two neeks, by major Donas, due April 1, 1944, outstanding $660,000, $950 per $1,000 bond, deposited with Central Hanover Bank fc Trust Company, Nassau Electric Railroad Company consolidated mortgage 4 percent gold bonds, due Jan. 1, 1951, outstanding $10,302,000, $570 per $1,000 bond, deposited wii.11 Guaranty Trust Company 0 New York. B. Q. T.

preferred stock, outstanding 149,217 shares, $20 per share, deposited with the Chase National Bank of the City of New York. Copies of the plan have been mailed to security holders. ended Mav 31, 1938. is at the highest level since December, 1937, according to a report made fccond qujter and lor trie half-year nowDmlng to hand. Many Of these pved to be better than had beenenerally looked for, and bear wltns to the high operating efficiency! American industry and to the innuity of management in reducing and transatlantic modest gfis in operating rates into more satfactory results in profit and loss atements.

EEXTLMVT AIDED "Apartfrom any direct benefits to indusf," the bank continued In part, "thevldence of Congressional willlngnu to give sympathetic hearing the point of view of business haslven new courage to busi geographic regions: Relon. Jul 29 Securities; Herman Shulman ot Hays Podell Shulman, and Frank P. Burs, vice president of Loft, Inc. Don G. Mitchell was elected vice president, in charge of sales; Mil-ward W.

Martin, secretary, and J. A. Murphy, treasurer. 22 up 8 2 public today by the National in-dustrial Conference Board. Whereas there were 9,976,000 with.

of Minnesota, veteran Congressman New England up 14. Middle Atlantic up 106 Central Industrial up 13 7 West Central up 3.3 up 6 2 up 13 1 who voted against the United States up 70 up and firm." During June domestic sales of copper, exceeding 66,000 out Jobs in May, this number declined to 9,552,000 in June, the report stated. The unemployed in them States up 11. ky Mountain up 18 9 flc Coast oo a a up 15.2 entering the World War, said that the "name-calling campaign of the Government is not inducive to peace." up 7.1 UP 10.1 tons, were the largest since last Total United 6tate up 11.8 June, a vear ago, totaled 10,959,000 October, and in July sales Increased During June the number employed to more than 180,000 tons, the best Consolidated Edison Senator Rush Holt of West Vir in the United states rose l.i per since October, 1936, the bank said. cent, from 44,550,000 to 45,028,000.

ginia, youngest member of the Senate, canceled his passage a few For week ended July 30, electric output was 137,600,000 kilowatt hours July Iron Ore Tonnage Rises 93 Over '38 Cleveland, Aug. 2 Shipments of Lake Superior iron ore during July totaled 6.309,938 tons, a gain of 3,042,125 tons or 93 percent over July, 1938. and an increase of 736,940 tons or 13 percent over June, according to Lake Superior Iron Ore Association. Shipments in July were highest, since October, 1937, when Part of tne gain was attriDutea minutes before the ship sailed. the return of 160,000 Bituminous Wheat and Corn Prices Stronger Treasury Statement Washington, Aug.

2 (U.R) Government expenses and receipts for the current fiscal year, through July 13, compared with a year ago: Expenses, $807,324,993.63, against receipts, against gross deficit, $499,479,186.10, against net deficit, $499,344,936.10, against cash balance, $2,447,306,845.49, against against 121,700,000 in 1938 week, an increase of 13.1 percent. coal miners to their shafts following Whet Conference Feard a Failure Londoi Aug. 2 (U.R) The inter- a labor dispute. AGRICULTURE GAINS While agriculture gained less than Foreign Copper Prices Advance Sales of export copper were made today at the highest level since last Chicago, Aug. 2 Wheat prices Morgenthau Sails For Visit Abroad one-half of 1 percent over May, in registered gains of over a cent a bushel on the Board of Trade here Tin Smelteries Urged by Bloom Washington, Aug.

2 W) Steps to dustry in June showed a 2.2 percent swni ugpward, with construction today. Crop news and reports of work increased by 3.3 percent and better foreign demand stimulated rational inference of the "Big Tour" wiat exporting nations has received serious setback, it was trading and helped boost prices Jan. 10, reflecting continued im provement in foreign demand. tons were snipped. Secretary of the Treasury Hem For the season to Aug.

I ship-, Morgenthau said today there will ments totaled 15.541,187 tons, up be no new treasury financing until Foreign Money Corn prices also showed gains of sizable fractions on reports of crop establish a tin-smelting industry in this country for national defense purposes were urged today by Chairman Bloom N. of the Today's sales were made from ivna xuy iini imci (September, except possibly routine to 10.50 cents a pound, C. I. P. farm credit financing.

House Foreign Affairs Committee. European base ports, compared with Calling attention to facts devel 10.40 and 10.45 cents yesterday. JoittflTarris, Uphani oped by an investigation by the Cable Quotations at 2 p.m. Parity of Currencies on gold standings is quoted at present gold relationship in dollars; all others gold dollar parity. transportation 3.7 percent better than the month before.

A continuing decline marked employment on WPA, CCC and the Federal Projects Work program during June. The number of workers went down from 2,918.000 in May to 2.893,000 in June, with the drop totaling 14 percent since last February. UNEMPLOYED RATIOS An estimate by the National Industrial Conference Board Indicates that 18 out of every 100 workers in the United States are still without committee in 1935, Bloom said a William H. Cowan and George A. The European cartel yesterday sold 3,480 tons, the largest single damage.

Reports from the Canadian Spring wheat belt continued to stress losses due to heat and drought. In the domestic northwest the forecast was for fair and warmer. Winnipeg wheat gained 1 cent in the first hour, and Minneapolis and Kansas City showed net gains of about 'a cent. Liverpool wheat closed cent higher. further inquiry was desirable at this time.

He recalled that the commit Morgenthau sailed aboard the S. S. Normandie for a vacation in Europe, and will return Sept. 11 on the same vessel in company with Postmaster General James A. Farley now aboard.

The secretary said he will visit Finland to officially thank that government for recognizing it has 'a debt and paying it. may's turnover in some time. tee previously had recommended Lowander, both formerly with Jark-son Boesel are now associated with Harris, Upham fc Co. in their Rorkef eller Center off ire, of which Mr. Cowan has been appointed manager.

Domestic copper continued wi unanimously the establishment of Previous Cloe Today 14 681 $4,681 changed at 10H cent a pound, de such an industry in the United States. livered the domestic quotation is now on a single-price basis since Stcrllm ($4.8665) Quotation! in Centj France, franc (6 63) Italy, lira (8.91) Export houses reported sales of one custom smelter yesterday raised reportedere today, with the refusal of Argema and Australia to consider the share of a proposed reduction i the world export quota. The prosed solution to the glutted condton of the world wheat market, iade by Ray Atherton, U. S. Stat Department official presiding ovtthe discussions, is stated to have cled for a five-year export quota schne apportioning bush annually among the 'Big Four Of the total, Argentina's shat woild be 23 percent, Australia'sl8 prcent, Canada's 40 percent afl tie United States' share 19 pfcent Argentint delgates are said to liave demaided25 percent, while Australia ha hl that its minimum requirement wald be 21 percent of the world total.

An attempbectompromise whereby the United tates and Australia would renouncjfor the benefit of these countriexportation of and bushels, re his price from 10', to 10 cents a 2 649 5.263 500,000 bushels of Manitobas to the United Kingdom overnight in addi 2.65 5.263 16.995 40.14 pound. Belgium, belga (26.95) tion to cargoes of Australian and jobs, with the total available labor supply set at 54,580,000. This is an improvement over March, 1933, when the ratio was 29 unemployed in each group of 100, but is not so good as September, 1937, at which time there were 11 out of 100. Back in the pre-depression days of 1929 Germany, mark (40.33) 40.13 Argentine wheat. Sales of corn for export and Utility Financing Switzerland, franc (22.07) 22.562 22.565 Holland, guilder (68.00) 53.22 53.18 Denmark, krone (26.8) 20.90 20 905 Norway, krone (26.8) 23 525 23.53 Sweden, krona (26.8') 24.12 24.125 Minor European Excbancei strength in the Buenos Aires market led to fair buying in the local market.

The government weekly report Indicated further damage to only 1 percent of American labor Led in First Half i Minded was unemployed. Securities amounting to the crop in the western part or tne belt. GRAIN AND PROVISIONS East River Bank A 1 18 2 08 .86 19.75 2 33 18 85 4-256 Bulgaria, lei 1.18 Finland, markka (2.618-) 2 08 Oreece, drachma (1.50") .86 Hungary, peno (17.49) 19.75 Jugoslavia, dinar 2.33 Poland, zloty (17.49) 18 85 Portugal, escudo (4.42) 4 256 000 were registered "with the Securities and Exchange Commission in June to bring the total for the first half of 1939 to $890,922,000, it was announced today, Adds Personnel BROOKLYN BANK, FOR The East River Savings Bank an IfJAOOHlVX PCOPli nounced today the appointment of Alfred C. Middlebrook as administrative assistant In its Investment 8.70 27,31 34.97 8 80 28 68 Far Eastern Elobange Yokohama, yen (49.95) Bombay, rupee (28.44) Shanghai, dollar Hongkong, dollar Canadian Exchange Canadian dollar Department, and the appointment of James F. McKenna to be in charge of research work under the direction of the controller, Charles C.

Joyce. CAPITAL $500,000 Wheat i Prev. I Open High Low Close Close 66s 64s 65s 64 I 65 667s 65 66 65V fii 67a 66 66Ts 66 Corn 42 414 42 41'i 42U 42i 41's 42'; 42 i 45 451 44', 45 44 To 1 Oats 2Vi 27T 273i 274 27 28', 28 277(i 284 29 28' 29's 29'8 I Rye (Sept. 41'i 42U 40Ts 41'i 41 43U 44'i 43 43U 43 May 46 44 45 45 Lard 5.70 5.72 5.70 5.72 5.67. I 5.75 5.80 5.90 5.90 5.75 100.00 Kings County Trust Company is strictly a bank oi service, placing the interests of the community and the people it serves first in importance.

This is the policy upon which our bank was founded 50 years ago, and upon which it has grown and prospered. Every banking service, efficiently rendered, is offered you here plus, of course, the spirit oi friendliness and cooperation that are synonymous with a home bank. Have you availed yourself of our facilities? KINGS COUNTY TRUST CO. 342 FULTON STREET In the heart of the Boro Hall Dittrict Member Federal Depotll Inturmc. Corp.

spectively, Is stated to have fallen fl when Australian representativesieported their government's reful to consider the plan. Cement Ouput Rises 1 Washington, Aug. 2 Portland cement lndustj In June produced barri, shipped 12,715,000 barrels from mills and had In stock at end oflonth 21,489,000 barrels. Bureau oMines reports. Production and spments during June showed increps of percent nd 16.2 percl, respectively, compared with Jje last year.

Stocks rt mills were percent lower than year ago. I Issues filed In the first six months of this year were predominantly of a refunding nature, the research and stattistics section of the SEC reported. Only 19.7 percent of the total was for new money purposes while payment of indebtednss and reitrement of securities accounted for 71 percent. Of the flotations registered with the Commission, thoses proposed by gas and electric utility companies omprtsed 488 percent of the total, or $358,928,000. Manufacturers securities were the next largest block, 36.8 percent, or $269,756,000.

Securities for financial and Investment companies accounted for 9 percent, or $65,852,000. Mr. MiddlebrcoK, who comes from Albany, has been associated in the Sooth American Exchange Argentine (free peso) Brazil (11.96) Chile (5.19) 5.10 3.50 past with Brown Bros. Harrlman Co. and was connected with the Wall Street Journal.

5 20 3.50 19 00 36.75 Peru (28.00) 1890 Uruguay (3.42) 36.75 Mr. MceKnna has been instructor SURPLUS $6,000,000 of finance at Brooklyn College and was recently assistant to Dr. Irvinj- 'Par given represent old dollar parity. Bussing of the Savings Bank Trust ComDany. lfrom 64 told..