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The Wilmington morning star. (Wilmington, N.C.) 1909-1990, January 16, 1940, Image 7

Image and text provided by University of North Carolina at Chapel Hill Library, Chapel Hill, NC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn78002169/1940-01-16/ed-1/seq-7/

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STOCKS RETREAT AGAIN BUT CUT LOSSES AT CLOSE
EFFORTS TO CLIMB
ARE UNSUCCESSFUL
'Associated Press Average For
60 Issues Is Off -2 Of
Point At 49.3
„v FREDERICK GARDNER
,.nV YORK, Jan. 15—LP)—
'3' suffered another relapse in
f;°Vs market but managed to
r back near the close and re
<0"lC or cancel extreme decline*
<,UC!inir to three or more points.
r“» emPts the list t0 edge for
! A, the start met with little
”nort and prices hit their low*
f the day in the fourth hour on
Moanded volume.
The drive was stemmed following
, official estimate of a less than
’“ted fall in this week’s steel
j.| operations and a brisk rally
"! „.heat futures. The belated re
J,ivai of wilting stocks was accora
M„ied by slackening activity.
The Associated Press average of
.» jsgues finished off .2 of a point
; 43 3, its fourth consecutive los
he day. A year ago the composite
Eto0d at 51.2. Transfers totaled
554800 shares compared with 1,
109 460 last Friday.
Dotvn fractions to around 2 at
Ihe last were U. S. Steel, Chrysler,
4 s. Rubber, International Har
vester, American Can, Westing
house, U. S. Gypsum, American
Telephone, Allied Chemical, Johns
Manville. Kennecott, Southern Pa
cific and Loft.
Standard Brands out to within
touching distance of a new 1939-40
peak. Minor plus signs were retain
ed by General Motors, Montgomery
Ward. Wilson & Co., General Out
door Advertising, Santa Fe, Ana
conda. and Boeing.
Wheat at Chicago ran up 1 3-4
to 2 1-4 cents a bushel and corn
gained 3-8 to 7-8. Cotton pushed up
at the last for advances of 10 cents
to $1.03 a bale. Bonds were back
ward throughout. Foreign securi
ties markets were under some
pressure.
In answer iu me qurauun
'•What's the matter with the mar
ket'.’" brokerage opinions varied,
jlost. though, thought bearishness
was caused partly by cloudiness of
the domestic political picture and
the congressional program anent
the budget and new taxes.
Additionally, it was suggested,
there were still fears the seasonal
recessional in business, already be
ginning to make its appearance in
a number of lines, might not be as
moderate as some had predicted.
Renewed tenseness in the European
war. with Belgium and the Neth
erlands mobilizing at their frontiers
was seen as a handicap.
Although the magazine “Steel”
reported metal shipments were ex
ceeding new orders considerably,
some hope for stabilization was
held out through railroad buying
in coming months. Boardrooms
were pleasingly surprised by the
dip of 1.3 points in this week's
steel output estimate. Many had
looked for about a 4-point drop.
STOCK AVERAGES
30 15 15 60
Indus Rails Util Stks
Net change - d.3 d-1 d.2 d.2
Monday _ 70.1 18.7 39.1 49.3
Prev. day ... 70.4 18.8 39.3 49.5
Month ago .. 72.5 20.0 39.1 50.8
Year ago ... 73.6 21.8 36-5 51.2
1539-40 high - 77.0 23-8 40.6 63.9
1539-40 low .. 58.8 15.7 33.7 41.6
1938 high ... 79.5 23.5 37.8 54.7
1938 low _ 49.2 12.1 24.9 33.7
Movement In Recent Years
1932 low _ 17.5 8.7 23.9 16.9
1529 high ... 146.9 153.9 184.3 157.7
1927 low_ 51.6 95.3 61.8 61.8
What Stocks Did
Mon. Sat.
Advances___ 144 133
declines _ 443 327
Unchanged _ 229 194
Total Issues .. 816 654
FOREIGN EXCHANGE
XEW YORK, Jan. 15.—<54—The
Netherlands guilder spiralled down
" wd today in relation to the dollar
"Nile fresh rumors of possible Ger
man violation of Dutch and Belgian
neutrality gave Europe something
else to worry about.
thher neutral currencies showed
lesser declines but foreign exchange
experts attributed this mainly to
'he relative freedom from official
control enjoyed by the Netherlands
Unit,
7ne guilder dropped .27 of a cent,
fhe Belga .06 of a cent and the
*"iss franc .01 of a cent.
in sharp contrast were gainB of
i t cent for the pound sterling and
•00 1-: of a cent, for the French
franc.
Somewhat puzzling to the foreign
m°ney market was a further Im
provement in the discount on the
future pound. Sterling due in 90
was quoted only7 4 cents below
e spot price, compared with 4 1-4
cents over the week-end.
fhe narrower discount was gen
lally believed due to stringent
measures Britain has taken to keep
er war economy in balance.
'-losing rates follow (Great Brit
Off1 .dollars’ others in cents);
fficial Canadian control board
uying rate for y. g_ dolIars 110.00,
ra/. rate Open market
.Montreal in New York 88.25,
e"’ York in Montreal 113.68 8-4;
Britain, demand 3.97, cables
bj,, 1-2' M-day bills 3.95 1-4, 90-day
•S 3.93 1-2; Belgium 16-80; Den
fk 19.33; Finland 1.90N; France
lent 171 Germany 40.25N; (benevo
17.66V .0) * Greece -73N; Hungary
53 'n~ ' Italy 6-05 7 Netherlands
3 6:v' Norway 22.78; Portugal
23 82 c Rumania -73N; Sweden
2.35V. Vvltzerland 22.43; Yugoslavia
2°?“ ’ ^rgentina» official 29.77; free
‘itxiio ar6 r'v0tfTCial 6'05: free 5,10:
kong Japan 23-«: Hong
,p Shanghai 8.10.
v‘se indicated)0.1 Cables ^less other
(N-Nominal^ , ^ j
-——
Closing Stock Quotations
(By The Associated Press)
° __T^l_ m_L 2
Air Reduct *_ 51 3.4
Alaska Jun__ 6 3.4
A1 Chem ft Dye__171 3.4
Alleghany __ 7-g
Allis Chal Mfg 37
Am Can - 113 1-4
Am Car Fdy _26 1.4
Am Coml Alco_____ 6 5-8
Am For Pow___ 1 7.g
Am Pow & Lt _ 4 1-4
Am Rad ft st s _ 9 1-4
Am Roll Mill_15 3.3
Am Smelt & Ref_ 47 3-8
Am Sug Ref _19
AT&T-168 1-4
Am Tob B _87 1-4
Anaconda _ 28 1-4
Arm 111 _ 5 1-2
A T ft S Fe_22 1-2
A C Xj -19 1-4
Atl Ref _21 1-4
Atlas Pow___ 63
Avlat Corp __ 6 1-4
Baldwin _ 15 1-4
B & O - 5 1.2
Barnsdall __ 12 1-4
Bendix Aviat ___ 27 3-4
Beth Stl _ 73 3-4
Boeing AirpI __ 22 6-8
Borden _ 22
Borg Warner __ 23 1-8
Briggs Mfg -20 1-8
Budd Mfg —_ 6 3-8
Budd Wheel __ 4 7-8
Burl Mills __20
Bur Add Mach __ 11 7-8
Calumet & Hec __6 3-4
4(17 0
Can Pac _ 5
Cannon Mills ...._..... 39 5-8
Caterpil Trac __......._52
Champ P & F_......... 24 1-4
Ches & O _39 1-2
C M St P and P Pf_ 5-8
Chrysler _82 1-4
Coca Cola _118 3-8
Colum G and E _ 6 1-2
Coml Credit . 47 1-2
Coml Solv _13 6-8
Comwlth and Sou_..._ 1 1-4
Consol Edls _30 1-2
Con Oil _ 7 1-8
Cont Can _ 42 1-2
Corn Prid _63 1-2
Curtiss Wright .— 9 3-8
Curtiss Wright A_ 28 3-4
Del Lack A W -- 5
Doug Aire_ 76 3-4
Dow Chem _145
DuPont _—.---178
Eastman Kodak _158 1-2
Elec Auto Lt -35 1-4
Elec Pow * Lt ..- 7
Firestone - ......... 20
Freeport Sul---— 32
Gen Elec .38 1-8
Gen Foods __ 45 3-4
Gen Mot - 51 7-8
Gillette ..— 6 1-4
Glidden . 17 1-8
Goodri-h ---—-17 5-8
Goodyear ----— 22 1-4
Gt Nor Ry Pf_ 23 3-8
Graham Paige -- 7-8
Hud Mot _ 8 3-8
Hupp Mot ---- 7-8
111 Cent _11 1-2
Int Harvest -55
Int Nick Can ———— 36 1-2
Int Tel & Tel - 4
Johns Man -71
Kennecott-——...——— 35 1-4
Kinney- — 2 1-8
Kroger Groc -28 1-2
Libby O F G1 -48 1-4
Ligg & Myers B-107
Loews ____——• 34
Lorilard _- 23 7-8
Louis & Nash __..._..._ 55 1.4
Mack Truck _25
McCrory Stores_......_... 15 1-4
Mo K T___ 1
Mont Ward _ 51 3-8
Murray Corp_ 5 .3.4
Nash Kelv_ 7
Nat Biscuit _ 23 1-2
Nat Cash Reg_16 1-4
Nat Dairy Prod __16 3-8
Nat Dist __ 23 1-2
Nat Lead _19 7-8
Nat Pow and Lt ...._ 8 1-4
N Y Cent _16 5-8
No Am Avlat _23 1-4
Nor Am ...._......._ 22 1-4
Nor Pac __ g 1-4
Ohio Oil _ 6 3-4
Otis Elev _17 3-8
Pal G and E _ 32 3-8
Packard _ 3 1-8
Param Pix __ 7 1-8
Parana PI _85 1-4
Penny J C _ 92 5-8
Penn Dixie __ 3 1-2
Penn R R. ?1 3-4
Phillips Pet _ 39
Pitt Scr & B_ 7 1-4
Pub Svc N J_40 1-4
Pullman _____..... 28
Pure Oil —_-_ 8 3-4
Radio _ 5 3-4
Rad K o _ 1 1-4
Rem Rand _-__ 9 7-8
Republic Steel __.....__ 19 7-8
Reynolds B __ 40 1-2
Seab A L ____ 3-8
Seab Oil _18
Sears _81 5-8
Shell Un __ 11 1-2
Socony Vac _ 11 7-8
soutnern .racinc _13
Southern Railway_ 17 8-8
Sperry _43
Standard Brands __ 7
Standard Oil Cal _25
Std Oil Ind _ 25 7-8
Std Oil N J - 43 8-4
Stewart Warner__ 8
Studebaker _-____9 3-8
Swift -_22 1-2
Tex Corp _ 43 7-8
Tex Gulf Prod _ 3 3-4
Tex Gulf Sul _33
Timken Det Ax _ 20 3-4
Transamer - 5 5-8
Trans & West Air _12 1-2
Un Carb.. 82
Dn Pacific_ 93
Unit Aire _ 44 3-8
Unit Corp_ 2 1-2
Unit Drug _- 5 3-8
Unit Fruit_ 82 3-4
Unit Gas Imp- 14 1-2
U S Ind Alco_22
U S Pipe_ 35 7-8
U S Rubber_ 36 3-4
U S Smelt & Ref-63
U S Steel_59
Vanadium _-— 30
Vick Chem _44 1-4
Va Caro Chem_ S 3-8
Warner Pic -_——-- 3 1-2
West Mary ---— 3 5-8
Western Union - 23 3-8
West Elec and Mfg-106 1-2
Wilson . 5 1,8
Woolworth _-—-—- 40
Yell T and C -17 3-8
Youngs S and T_41
Total sales 861.800.
CURB
Asso G and El A __ 1-4
Can Marconi __ 16-16
Cities Service _ 4 1-2
El Bond and Share__ 7 3-8
Gulf Oil _36 1-4
■ ___
NEW lUKK luriun
NEW YORK, Jan. 15.— ta?> —Cot
ton futures started up the price lad
der again today after last week's
downward slide. Final prices were
up 2 to 21 points.
Quotations stayed on the plus side
most of the session but in the last
hour buying by the trade expanded
and final levels were the best for
the day.
Higher markets at Liverpool and
Alexandria plus steady demand from
trade interests were the chief sup
ports. Pressure was negligible
throughout.
The January delivery showed a
disposition to trail behind the rest
of the list, at one time even selling
below the previous close.
Trade in January stops at noon
Wednesday. Since certified stocks
now total 7,045 bales, many brokers
expected a fair number of notices
to come out before the expiration.
This theory was believed to have
caused considers ole transferring of
long holdings forward and subse
quent narrowing of differences be
tween near and distant months.
Lower price trend* in Worth
street textile markets became more
pronounced although business re
mained disappointing.
Exports Saturday 64,223 bales;
season so far 3,503,580. Port re
ceipts 32,191; port stocks 3,328.554.
Range follows:
New:
^ _ tt;~U T nif r<l ncn
May 10.86 10.90 10.86 10.98Bupl9
July 10.61 10.56 10.51 10.64B up 19
Oct 9.69 9.85 9.69 9.85 up 19
Dec .. 9.62 9.79 9-62 9.79 up 21
Old:
Jan — 11.06 11.06 10.89 11.02 Up 3
Mch 10.93 11.09 10.93 11.08 up 16
May __ 10.67 10.83 10.67 10-83 up 18
July __ 10.29 10.44 JO.28 10.44 up 19
Spot ' nominal; middling (15-16
inch) 11.51. _
BALTIMORE HOGS
BALTIMORE, Jan. 15.—(AO—(U.
S. Dept. Agr.)—Hogs 1,000. Butch
ers 150 lbs. up mostly 10 higher.
Packing sows and pigs steady. Good
and choice 150-210 lbs. 6.25-50,
practical top 6.60; 220-240 lbs. 5.95
6.20; 120-140 lbs. 6.85-6.10; 250
800 lbs. 5.5595. Packing sows un
der 400 lbs. 4.76-5.00, weightier
sows mainly 4.50-75.
SPOT COTTON
NEW ORLEANS, Jan. 16.—(AO
New Orleans spot cotton closed
steady 15 points higher. Sales 5,279.
Low middling 10.03; middling 11.18;
good middling 11.48. Receipts 15,
409, stock 900,518, —
UALinuunii ruiftiuns
BALTIMORE, Jan. 15.—t5T—Po
tatoes—old—steady. Truck 100 lb.
sacks US Is Maryland and Penn
sylvania round whites 1.60-70, Chtp
pewas and Katahdins 1.70-80, few
higher; New York round whites
1.50-60. Rail-100 lb. sacks US Is
Maine Mountains 1.80-95, Chlppe
was and Katahdins 1.00-2.05, Idaho
Russet Burbanks 2.25-40. New-un
settled. Rail-bushel crates Bliss US
Is Florida 1.45-60.
Sweet potatoes—very dull. East
ern Shore Maryland bushel bas
kets Goldens US Is 75-90, few high
er, ungraded 50-60; Jerseys US Is
55-75, few higher, ungraded 35-50;
Puerto Ricans, Nancy Halls and
white yams US Is 75-85, few high
er, ungraded 40-60. North Carolina
bushel baskets Puerto Ricans US
is 75-90, few fancy higher, ungrad
ed 40-60; Jerseys ungraded 40-65.
Nearby bushel baskets and ham
pers Jerseys and Goldens US Is 60
65, few higher, ungraded 40-50; 1-2
bushel hampers ungraded Goldens
30-35, Jerseys 25-30.
DRY GOODS I.
NEW YORK, Jan. 15.—UP)—Gray
goods prices showed a slightly eas
ier tendency today but business
was light.
Rayon dealers reported fair trade
In standard weaves with pigment
taffetas and all-rayon prints lead
ing sales volume. Prices held firm
and nearby deliveries of spring
fabrics are becoming increasingly
light.
The silk goods market remained
iormant. Hosiery sales were good,
and dealers were encouraged by
the quality of business done so far
this year. Manufacturers said the
hosiery price level is still low com
pared with the cost of raw mate
rial.
Woolen goods markets continued
spotty. Chief interest centered on
fall goods and the prices which are
:o be named for next season. De
mand for women’s fabrics contin
ued steady with manufacturers
pusy on spring apparel.
CHICAGO BUTTER
CHICAGO, Jan. 15_UP)—Butter
>25,059, steady; creamery-90 score
!0 1-2—31; 92, 30; 91, 29 8-4; 90,
!9 3-4; 89, 29 1-4; 88, 28 .1-4; 90
:entralized carlots, 30—30 1-4. Eggs
>,214, firmer; fresh graded, extra
firsts local 19 1-4, car sl9 1-2;
firsts local 19, cars 19 1-4; current
•eceipts 17 1-2; refrigerator ex
;ras 15 1-2, standards 15 1-4, firsts
L4 2-4.
RAILROADS SUFFER
IN BOND EXCHA E
Foreign Dollar Obligations
Also Give Ground Dur
ing Day’s Trading
NEW YORK, Jan. 15— CP) —The
bond market tacked on additional
losses of major fractions to a point
or more for most of the active is
sues today. Low-priced rails and
foreign dollar obligations gave
ground more readily than other
groups.
Other than a backsliding stock
market and renewed fears in some
quarters that the "sit down” war in
Europe might suddenly rise up and
get going in a big way, there was
little to influence either buyers or
sellers. The day’s turnover, how
ever, was well up to recent sessions,
totaling $6,166,500, face value, com
pared with $6,040,800 last Friday.
Some of the larger losses in the
foreign dollar department were Nor
way 4 l-4s, off 4 3-8 at 68 1-2, Den
mark 6s, off 2 1-4 at 63 3-4, Uruguay
4s, off 2 5-8 at 46 1-4 and Milan 6
l-2s off 1 3-8 aX 49 5-8. Panama 5s
moved up 2 1-2 points on reports the
government would soon take steps
looking toward revamping its dollar
indebtedness.
Home front losers of a point or
more Included Western Maryland 5
l-2s, Western Union 4 l-2s, St. Louis
Southwestern First 4s, Southern
Railway 6 l-2s, Baltimore & Ohio 7s
and Erie 4 s.
A few high priced loans held
minor advances at the close. Among
these were Armour 4s at 100 6-8,
International Paper 6s at 108 1-4,
Pennsylvania 4 l-2s at 102 1-8 and
Anaconda Copper 4 l-2s at 106 5-8.
U. S. governments moved in sym
pathy with the general list but deal
ings here were very small. Losses
ranged from 2-32 to 17-32 of a point.
BOND AVERAGES
20 10 10 10
Kails Indus Util For
Net change _ d.3 d.l d.4 d-8
Monday _ 57.8 102.1 96.3 60.5
Prev. day ... 58.1 102.2 96.7 6A-3
Month ago 58.1 101.4 95.7 49.4
Year ago ... 60-3 98.9 93.1 62.2
1939-40 high _ 64.9 102.6 97.5 64.0
1939-40 low .. 53.4 95.8 90.4 41.7
1938 high_ 70.5 100.3 95.1 67.0
1938 low_ 46.2 93.0 85.8 69.0
1932 low_ 45-8 40.0 64.6 42.2
1928 high ... 101.1 98.9 103.9 100.6
10 Low Yield Bonds
Monday _ 111.8
Prev. day _-__- 111.9
Month ago-.......... 110.9
Year ago _ 111.3
1939-40 high _112.6
1939-40 low _ 103.6
1938 high -. 110.7
1938 low _ 106.7
1928 high - 104.4
1932 low _ 86.8
NEW YORK SUGAR
NEW YORK, Jan. 15— (A0 —The
sugar futures market livened up to
day as traders eyed continued heavy
bookings of refined and sizeable
sales of raws to domestic refiners
and European buyers.
Domestic contracts rose 4 to E
points to the tune of sale totaling
44,600 tons. Offerings were small,
mostly from Cuban producers.
Profit-taking clipped the world list
after it had moved in higher price
territory most of the session. Final
pi-ices were 1-2 to 1 point down on
sales of 3,550 tons; March 1.52, May
1.52 1-2.
Announcement by leading eastern
refiners of a base price of 4.50 cents
a pound to all customers for the
next six months extended the lower
price allowed last week to manufac
turers only. The new price was ac
companied by provisions for a price
guarantee, except in southern terri
tory.
Large quantities of sugar were or
dered, brokers said, some estimates
running to almost half the country’s
1940 consumption requirement of
6,725,100 tons as expressed in the
government quota figure.
The United Kingdom bought 120,
000 tons of Dominican sugar at an
average price based on No. 4 futures
prices.
Duty-free raws sold at 2.85, 2.85
and 2.90 cents, the last representing
transfer of 40,000 bags of Puerto
Ricans for February shipment.
Cubas sold for March delivery at
2.90 cents duty-paid.
No. 3 range follows:
Tlln-V. T AMT niABA
March_ 1.96 1.93 1.94
May _ 2.01 1.99 2.00
July _ 2.05 2.03 2.05
Sep. _ 2.08 2.06 2.08
Jan. 1941 _ 2.08 2.06 2.07
RICHMOND LIVESTOCK
RICHMOND, Va, Jan. 15.—ISO—
(USDA)—Livestock:
Hogs—receipts moderate, market
20 cents higher. 160-250 lbs., 5.35
5.85 top. 120-140 lbs., 4.55-6.05; 140
160 lbs., 5.05-5.35; 250-300 lbs..,
4.85-5.35; over 300 lbs., 4.60-5.10.
Sows under 350 lbs. 3.85-4.35; over
350 lbs., 3.35-3.85.
Cattle—steady.
Steers—8.25-8.75; mediums 6.50
7.50; common 5.00-6.00.
Heifers—5.50-6.50; good beef breed
7.50-6.00.
Cows—5.50-6.00; mediums 4.60
5.00; common and canners 3.50-4.00.
Vealers—10.00-10.50; choice 10.50
11.50 top.
Bulls—6.00-6.50, lights 5.00-6.00.
EGGS
NEW YORK, Jan. 15—<£>>—Eggs
12,792; steady to firm. Mixed colors:
fancy to extra fancy 21 1-4—28;
standards 21; firsts 20; seconds 17
1-4—18 1-4; mediums 17, dirties No.
1, 17; average checks 15 1-2—16.
Refrigerator, fancy and heavy
weights 17-19 1-2; standards 16 1-2;
firsts 16—16 1-4; seconds 15 1-4—
1-2;, mediums 15;. dirties 14 1-2,
-
Closing Bond Quotations
(By Th« Aasociated Press)
GOVERNMENT BONDS
Treasury
3%s 43-41 Mch----,-104.18
3%s 47-43 - 109.22
3%s 45-43 _ 109-80
3%s 46-44 _110.11
4s 54 44 _114.22
2%s 47-45 ___109.1
2%s 45 __.. 108.18
3%s 56-45 _ 114.27
3s 48-46 _-_110.14
3%s 48-46 ____111.16
2s 47 _-_104.19
2s 50-48 _—-_102.81
2%s 53-49 _ 106.17
2%s 54-51___107.3
2'.is 53-51 _103
2%s 60-55 _107.21
2%s 65-60 —_-_106.6
Federal Farm Mtg.
3s 49-44 __ 108
Home Owners Loan
8s 52-44 _107-27
l%s 47-45 _101.10
DOMESTIC
AT and SF 4s 95_105%
B and O Cvt 4%s 60 -_- 15%
Bkn Un El 1st 5s 50__ 89%
Can Pac 4s Perp___- 61%
C and O 4%s 92 —___... 123%
C B and Q 4%s 77__ 80
Chi E 111 5s 51_ 17% |
Chi Gt West 4s 59_ 24V
Cri and P Rfg 4s 84 __ 5 V
Clev TJn Term 5Vis 72 ...... 89Vi
Clev Un Term 4Vis 77C ...... 73
D and R G West 5s 55__ 2 Vi
Erie Rf 5s 67 _ IbV.
Fla East Cst 5s 74_..... 7 Vi
Hud and Man Rfg 5s 57 ...... 47
Int Gt N Adj 6s 52 ..._... 19i
Int Mer Mar 6s 41___ 69 V
L and N 4Vis 2003 _- 93
M Kand T Adj os 67- 7
Mo pac Gen 4s 75---... 3 V
NYC Rf 5s 2013_ 57?
N and W 4s 96-124
Nor Pac 6s 2040 ___ 63?
Penn RR Gen 4Vis 65 ........ 102 V
Purity Bak 5s 48 ____102?
SAL Con 6s 45___ SV
So Pac Rfg 4s 55_.....__ 63
So Ry Cn 5s 94 ...-... 88 V
So Ry Gen 4s 56_ 57?
Third Ave 4s 60 ...._—_ 51
West Md 4s 52_ 84 V
FOREIGN
Australia 5s 55 .._...- 84 V
Australia 4 Vis 56 ............ 80
Belgium 7s 55 —__1019
Brasil 6Vis 26-57 __ 13V
Italy 7s 51 _ 699
Japan 6Vis 54 —-_....... 81?
Poland 8s 50 .....---- 7 V
Rio Gr Do Sul 6s 68- 8 V
CHICAGO GRAIN |
CHICAGO, Jan. 15—(A*)—A sudden I
renewal of buying today gave the
wheat market Its strongest rally
since January 2 and restored dollar*
a*bushel quotations to the black*
board. The advance amounted to
more than two cents.
Some buying was inspired by
threatening European news but
many dealers regarded the market
as being due for an upturn after the
steady decline of the past two weeks
which had erased 10 cents or more
from quotations. Mills were under
stood to be in the market for small
quantities. At times purchase or
ders disclosed a scarcity of offers
which were attracted only higher
bids. This brought in some previous
"short” sellers to cover their sales.
An advance of about a cent of loaf
in bread in some eastern markets
also attracted attention. Chicago
grain dealers raised bids to the
country from 8 to 4 cents over May
in order to attract wheat.
Reaching its high point just be
fore the close, wheat finished 1 3-4—
2 1-4 higher than Saturday, May
$1.00 1-4—1-2, July 98—98 1-4. Com
was 5-8—7-8 up, May 58 8-8, July 68
3-4; oats unchanged to 1-8 up; soy
beans 1 cent higher, rye 6-8—1 up
and lard 7-10 higher.
Exporters estimated foreign sales
of Canadian wheat over the week
end at 300,000 bushels and 120,000
bushels of Canadian rye were sold to
Norway.
Receipt of beneficial mows over
the week-end through much of the
grain belt and more optimistic crop
reports from the southwest were
virtually Ignored, Ample snow
covering now protects most of the
winter wheat region from cold
weather but there were conflicting
ideas regarding the benefits the crop
may derive from recent moisture.
The Robinson Elevator Co., Kansas
City, while expressing belief the
Kansas crop had little chance of be
ing one of normal size, said im
provement had taken place. On the
other hand, a Wichita Milling Co.,
said cold weather undoubtedly hurt
some weak, spindly plants before
snow bee? me deep enough and added
that unsprouted wheat could not
germinate in present temperatures.
Open High Low Close
WHEAT:
May _98% 100% 98% 100%
July _96% 98% 96% 98%
Sept _ 96 97% 96 97%
CORN:
May _67% 68% 67% 58%
July _58% 58% 58% 58%
Sept -58% 59% 58% 59%
OATS:
May _39% 40 S9% 39%
July _34% 34% 34% 34%
Sept _32% 32% 32% 32%
SOY BEAN8:
May .117% 118% 117% 118
July -_115 115% 114% 115
RYE:
May _ 69 69% 68% 69%
July _68% 69% 68% 68%
Sept _68% 69 68% 68%
LARD:
Jan ____ 5.85 _ —- 5.85
Mch _ 6.25 6.25 6.22 6.22
May _ 6.37 6.42 6.37 6.40
July 6.55 6.62 6.55 6.67
Sept _ 6.76 6.80 675 6.77
BELLIES:
Jan _... .—. .... 5.85
Mch _ _ _ 6.50
CASH GRAIN
CHICAGO, Jan. 15— (JF) —Cash
wheat No. 2 yellow hard 98 3-4.
Corn No. 2 mixed 64 1-4—3-4; No.
3, 64 1-4; No. 1 yellow 59 1-2—80;
No. 2, 59 1-4—60; No. 8, 58 8-4—59
1-4; No. 4, 57 1-2; No. 1 white 66
1-4; No. 2, 65—65 1-2.
Oats sample mixed 86 3-4; No. 2
white 43 1-2; No. 8, 41 3-4—42 1-2;
sample grade white 40—40 3-4.
Soy beans No. 2 yellow 1.18 1-4—
1-8; No. 8, 1.16 1-2.
Barley, malting, 54-66 nom; feed,
40.50 nom: No. 3 barley 62; No. 3
malting 64.
Timothy seed 4.80-90 nom.
Red clover 12.50-16.00 nom.
Red top 8.50-9.00 nom.
Alsike 15.00-18.00 nom.
Alfafa 17.60.22.60 nom.
Sweet clo jr 4.50-6.25 nom.
NEW YORK POTATOES
NEW TORE, Jan. 15.—UPb-Po
tatoes steady. Upstate, No. 1, sacks
(100 lbs.), jobbing sales, Katahdln,
brushed 2.00-2.10. No. 1, sacks (100
lbs.). Long Island, Green Moun
tain 1.75-2.25. Maine, Chippewa,
Katahdln and Green Mountain 1.95
2.00. New crop: bu. box or crate,
Florida, Red Bliss, washed 1.76-90,
some 2.00.
CHICAGO LARD
CHICAGO, Jan. 15. — UF> — Lard
tierces 5.85;, loose 5.171 bellies 6.87.
CHICAGO LIVESTOCK
CHICAGO, Jan. 15—UP)—Small*
open-market receipts of hogs, par
ly curtailed by storm over the weel
end, helped lift prices today as muc
as 25 cents, with spots higher earl:
The market topped at *6, with clo;
ing trade lossing part of the a<
vance. Receipts of 11,000 in th
open market were 12,000 under a<
vance estimates.
The cattle market was generall
strong to 25 cents higher on curtai
ed receipts, the market topping a
*12.10.
Fat lambs and yearlings s<l
steady to 15 cents lower, topping i
*9.S5. Good to choice wooled laml
under 100 pounds aold from *9 t
*9.25.
(U. S. Dept. Agr.)—Salable hog
11,000; total 300,000; opened activi
fully 25 higher than Friday’s av,
age; spots up more; closed 10-3
lower than early on weights 230 lb
up; top 6.00; bulk good and choic
160-240 lbs. 5.75-6.00; 240-270 1b;
generally 5.50-85; most 270-330 11
butchers 5.35-65; strictly good an
choice 130-160 lb. averages 6.25-7I
good 360-580 lb. packing sows 4,6
5.00; shippers 2,500; estimated holi
over 1,000.
Salable cattle 7,500; salable calve
600; receipts curtailed by heav
storms, especially Iowa; active an
25 higher market on steers an
yearlings instances more than 2
up; closing trade less active tha
early however in anticipation of ii
creased receipts later in week; mo;
steers 8.75-11.00; top 12.10; for
loads strictly choice offerings sea
Ing 1,065 to 1,250 lbs. 12.00; slzab]
supply 11.00 upward, 1,422-lb. bu
locks selling up to 11.60 and 1,53
lbs. to 11.00; other killing class*
shared steer advance; best heifei
10.25; bulk 7.75-9.50; beef cows 6.0(
7.00; and cutters 5.25-75 canners g(
ing at 4.25-5.00; weighty sausag
bulls around 7.60 but 7.75 quotabli
lighter kinds 6.75-7.00; vealers 6
higher at 11.50-12.50; stock steer
and yearlings 8.75 down to 7.50 be
practically everything went on kill*
account.
Salable sheep 6,000; total 8,000
fat lambs and yearlings steady t
15 lower; sheep steady; most lamb
under 100 lbs. lbs. 9.00-25; top 9.3
to small killers and shippers; finisl
ed 103 to 108-lb. lambs 8.75-9.00; bul
yearlings 8.00; sheep steady; m
tives 4.00-60.
STOCKS IN THE SPOTLIGHT
NEW YORK, Jan. 15—(/P)—Sale;
closing price and net change of th
fifteen most active stocks today;
Stand Brands, 41,200—7; a%.
US Steel, 22,700—59; dl.
Loft, 20,100—20%; d%.
Int Mer Marine, 17,600—9%; d?<
Curtiss Wright, 17,000—9%; d%.
General Motors. 12,000—51%; a1/!
Republic Stl, 11,900—19%; d%.
Chrysler, 10,300—82%; d%.
Aviation Corp, 9,900—6% ; d%.
Nash Kelv, 9,700—7; d%.
NY Central, 9,600—16%; no.
General Elec, 8,600—38%; d%.
Comwlth Edison, 8,100—31%; d’/!
Kennecott, 8,200—35%; d%.
Anaconda, 7,800—28%; a%.
NEW ORLEANS COTTON
NEW ORLEANS, Jan. 15—<iP>
Foreign and domestic trade buyin
and reports of a good spot deman
bolstered cotton futures here todaj
Closing prices were steady, 15 to 1
points net higher.
Open High Low Close
Jan .. 11.07 11.07 11.07 11.16B
Mch .. 11.06 11.18 11.06 11.18 up 1
May 10.79 10.94 10.79 10-93 up 1
July ..10.38 10.54 10.88 10.53 up 1
Oct 9.75 9.87 9.75 9.87B
Dec _. 9.73 9.73 9.73 9.79B
LIVERPOOL COTTON
LIVERPOOL, Jan. 15.—<£>)—Col
ton—limited demand for spot, price
15 points higher. Quotations i:
pence: American, strict good mid
dling 9.73; good middling 9.33
strict middling 9.23; middling 9.13
strict low middling 9.03; low mid
dling 8.(8; strict good ordinar;
8.23; good ordinary 7.88. Future
closed 6 to 11 higher. Mch 8.68
May 8.(5; Jly 8.58; Oct 8.34.
MIDDUNG COTTON
NEW ORLEANS, Jan. 15.—(ff
The average price of middling 15
16-inch cotton at ten designate!
southern spot markets was 17 high
er at 10.97 cents a pound. Averag'
for the last 30 market days wai
10.82 cents a pound.
WHY suffer from Colds'
For quiek
relief from
cold symptoms ■ ■■ ■■ I
take 666 VWV
Liquid . Tablets . Salve • Vase Dtopi
. ■ ■■■
Measure To Regulate
Fishing Is Approved
WASHINGTON, Jan. IB— UP) —
The house passed and sent to the
senate today a bill (HJR 302) by
i Representative Byrne (D-NY) to au
thorize compacts and agreements
1 between New York and other At
lantic Coast states to regulate fish
ing in the waters along the eastern
seaboard.
The bill -was amended to romply
with the request of President Roose
velt that approval of congress be
1 requested on all pacts negotiated.
' The President vetoed a similar mea
, sure last year because it did not
i contain this provision.
' CHICAGO POTATOES
CHICAGO, Jan. 15— (A1) —(U. S
\ Dept. Agr.)—Potatoes receipts anc
US shipments no available markel
i bull, slightly weaker undertone, sup
plies liberal, demand slow; socket
1 per cwt. Idaho Russet Burbank!
• US No. 1, few sales 1.S0-95; mostlj
j 1.82 1-2—85; Colorado Red McClure!
, US No. 1, few sales 1.60-70: Nebraska
i Bliss Triumphs 90 per cent or bettei
» US No. 1, washed 1.95-2.00; 80 to 81
per cent US No. 1, unwashed 1.60
62 1-2; Michigan Russet Rurals US
No. 1, late Saturday car 1.45; Min
r nesota Red River valley sectioi
• Early Ohios US commercials 1.25
■ North Dakota Red River valley see
i tion Cobblers 75 to 85 per cent US
’. No. 1, few sales 1.27 1-2—37 1-2
Bliss Triumphs 85 per cent US No
[• 1, 1.30; Early Ohios unclassifiet
e 1.15; Wisconsin Round Whites un
1- classified 1.10; new stock dull, weal
undertone, supplies light, demam
y slow; less than carlots, bu. crate;
. Bliss Triumphs Florida US No. 1
t washed few sales 1.75-82 1-2.
1 N. Y. COTTONSEED OIL
t NEW YORK, Jan. 15.—(.TO—AI
s though sharp early gains in coi
o tonseed oil futures were trimmed i
bit, the market closed with under
s lying steadiness and 7 to 10 point
, higher today. Disquieting foreigi
’ news inspired much of the de
5 mand.
! Last-minute covering lifted Jan
‘ uary 30 points at one time. Tha
delivery went off the board a
noon with a net gain of 20 points
’• Sales totaled 65 contracts; Mel
“ 6.97, May 7.07b, Jly 7.18b. (b-Bidl
'* Crude oil was quoted 5 7-8 cent
j‘ bid throughout the belt.
NAVAL STORES
s SAVANNAH, Jan. 15.—<A>)—Tur
y pentine firm 29; offerings 6; a!
® sold; receipts 12; shipments 200
^ stock 23,031. Rosin firm; offering
5 51; all sold; receipts 494; shii
n ments 635; stock 211,492. Quote
i- B 4.25ffi D 4.50; E 5.00; F 6.10; (
t 5.25; H 5.35; I 5.45; K 5.50; M, 1
r 5.55; WG 5.65; WW, X 6.20.
[. -
e DAFtY PRODUCTS
1- NEW YORK, Jan. 15— (AO —But
2 ter 484,937, easier. Creamery: high
s er than extra 31 1-4—32; extra (9:
s score) 30 3-4—31; firsts (88-91) 30
• 30 3-4; seconds (84-87) 27 1-2—29 1-2
" Cheese 72,918, steady. State, who!
0 milk flats, held 1839, 21-22; Junei
'I 19 3-4—20; other fresh 18—18 1-2.
0 _
5 N. O. COTTONSEED OIL
1 NEW ORLEANS, Jan. 15.—(AO
r New Orleans cottonseed oil close
steady. Bleachable prime summe
I yellow 7.05n. Prime crude 5.87 1-2
o 6.00. Jan 6.35b; Mch 6.45b; Ma
9 6.57b; Jly 6.71.
5 b-Bid; n-nominal.
5 SPOT COTTON
, CHARLOTTE, Jan. 15. — (A0 -
Spot cotton 10.75.
Manton Asks Supreme \
Court To Review Case
WASHINGTON, Jan. 15— CD —
Asserting that the lower courts had
afforded him "no reasonable chance”
to clear himself former Federal Cir
cuit Judge Martin T. Manton of New
York, asked the supreme court today
to review his conviction on a charge
of conspiracy to sell judicial favors.
In a petition to the court, Man
ton’s attorneys argued that publio
policy demanded that Manton be
given every opportunity to clear
himself, if he could, because such a
conviction "tends to destroy the
confidence of 1 the people In the
courts.” 1
It added, however, that if Manton
"is unable to clear himself before
this court he deserves any denuncia
tion this court might give.”
"We ask this court, for the honor
of the American judiciary, to give
him his chance here,” the petition
concluded.
Good Business Year Is
Forecast By Saul Cohn
NEW YORK, Jan. 15— UP)— The
prediction of “a fairly good business
year” was given to 1,000 representa
tives of retail stores throughout the
United States^ tonight by Saul Cohn.
I president of the National Retail Dry
Goods association.
He opened the 29th annual con
1 vention of the organization by tell
. ing the delegates:
: “Using the 1923-1925 average as a
1 normal base of 100, our sales during
1 the latter part of 1939 were around
. 94 per cent against 87 per cent a
year ago. Inventories are in good
shape and a creditable job has been
done in turnover.
“We enter 1940 with a business
- volume at the highest level since
i May, 1930. We have a reasonable
• assurance that there is a satlsfac
* tory road ahead, barring unpredic
1 table factors.”
- I
DAILY EAGLE SOLD
t NEW YORK, Jan. 15.—W)—The
t Brooklyn Daily Eagle was sold for
$350,000 today to Publisher Frank B.
i Schroth. Schroth, formerly editor
. and publisher of the Scranton Tri
s bune acquired control of the corpor
ation publishing the Eagle, Aug. 1*
1938.
I if •
: EDUCATION
i
We've studied and learned
how we could give you the
most value for least money I
r MOO ROOMS, RASH A NO RAOtO
FROM $2.M
; HOTEL Alfred Lewis. Mcr. I
■ TA P T
al 50th St. NEW YORK
• AT RAJ9I0 CITY • J
. '\^IINa*ltNGMAHAGiMlHT/f
Get Quid Relief when
HEADACHES Strike
Nerre-racldng headache* usually yield "BC" is also effeettre for the relief oi
promptly to the quick-acting Ingredients “u‘cuUr, »***• 01
t. the "«c" tnrmnis Tr» e "IT" th. lunc,ionaI periodic pains, and as a
In the BC formula. Try a -BC th* 1#datlT. ta ^p,. n.r'ouw. Os*
. next Arne a headache is pounding according to directions on package, and
away. Note how quickly yon are re- always consult a physician when pains
liered and begin to feel much better, persist 10c & 25c sixes.
1 TAX LISTING
7
The Machinery Act provides that Poll and Tangible
I Property tax returns shall be made to the list-taker
during the month of January under the pains and
penalties imposed by law.
i OWNERS OF AUTOMOBILES SHOULD BE PRE
PARED TO GIVE TAX LISTERS FULL INFORM4
TION AS TO MODEL, YEAR OF MANUFACTlsay
AND STATE LICENSE NUMBER.
r
s Wilmington township tax listers will be on the main
floor of old court house daily 8:30 A. M., to 5.30
P. M., (Sundays excepted, beginning January 2nd,
1940.
» !
County tax listers will, meet their usual appoint
1 ments as advertised.
| Harnett listers will meet at the court house Jan
uary 26th, 27th, 29th, 30th and 31st.
Cape Fear, Federal Point and Masonboro listers
will meet at the court house January 30th and 31st.
i '
, J. A. ORRELL,
County Auditor, f

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