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The Wilmington morning star. (Wilmington, N.C.) 1909-1990, May 18, 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/sn78002169/1940-05-18/ed-1/seq-7/

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WAR FEAR PSYCHOLOGY GRIPS MART, LEADERS DROP
_« , m »«»» IT " " ' ' - —i _* '
MANY til mum
NEW LOWMARKS
, . Attempts To Extend
Thursday’s Rally Are
tylet With Failure
--—- \
j-nEDFRICK GARDNER
» YORK, May 17.——War
NEIvchologv gripped the stock
leaf p today and leading issues
irarket tQ more than 9 points al
iluWPfd many to new lows for
attempts to extend yester
Ear’ iiv based on the adminis
day’-SJe billion-dollar defense ex
,ratl" “ nrogram. met with failure.
Pa"s,‘ " d aircrafts, up at the start,
steClbe„an to crumble and were
f”principal losers during the re
finder of the session.
The ticker tape frequently was
, land in the latter part of the
at i hour fell 7 minutes behind
transactions. In the concluding
h more than 1,000,000 shares
Ced hands. A little support
i me in near the finish and pivotal
“L managed to come back 1 to
."jjt, or so from bottom levels.
Touching off the fresh relapse,
fcr()1[ers said, were reports of fur
ther German successes on the lit
1 Maginot” line, admission of the
British that the military situation
-extremely serious,” the ap
nroach of Nazi forces to within 100
Les of Paris, the sudden shift of
;hc Belgian government from Brus
sels to Ostend. and heightened ap
prehension over the possibility of
{he Italians joining the conflict.
The depressing foreign picture
. patently more than offset bullish
,,t,s over the huge rearmament
pirns, expected to buoy steel, air
craft and other industries. Addi
tional favorable business develop
ments at home generally failed as
a market prop.
Anoiner Dreah. in wncat luiuics CU
Chicago helped chill sentiment.
This cereal finished off 3 1-2 to 5
cults a bushel. Com was down 1
U to 2 1-2. Cotton lost 40 cents to
Si [j a bale. Other commodities
ivere heavy. Bonds also retreated
and the "free" pound sterling dip
ped.
The Associated Press average of
60 stocks ended with a drop of 2
points net at 41.3. low mark for this
composite since June 20, 1938.
Transfers totalled 3,074,340 shares
compared with 2,355,180 the day be
fore.
Principal weak spots included Du
Pont at 161. off 8 points; Chrysler
6134. off 7 5-8; Douglas Aircraft
821-8, off 7 3-8; Bethlehem Steel
!?. off 7: and Westinghouse 89 1-2,
off 34.
j 30 15 15 60
! 1ml. Rails Util Stocks
JPii.-\58.9 X14.7 x33.3 x41.3
-Net dig.. d3.2 d-7 d.g d2.0
Prev. day- 62.1 15.4 34.1 43.3
Month ago ... 71.0 18.6 38.6 49.6
Year ago- 63.6 17.2 35.9 44.9
1910 high_ 74.2 20.5 40.6 52.2
3940 low. 58.9 14.7 33.3 41.3
1939 high_ 77.0 23.8 40.6 53.9
1939 low. 58.8 15.7 33.7 41.6
| 6(l-Stock Range Since 1927
1937-38 ; 1932—36; 1927—29.
J—New lows.
High.. 75.3 72.8 157.7
l*ir .. 33-7 16.9 61.8
Thurs. Fri.
Advances__ 119 533
Unchanged. 130 164
Decline?__ 753 250
Total issues. 993 947
CHICAGO LIVESTOCK
CHICAGO. May 17.—(J)—Hogs ad
vanced as much as 15 cents today
in a moderately active market, aid
'd by reduced shipments. Weights
*fom 250 pounds down showed the
m»st advance, topping at $6.25,
vhich was paid sparingly.
_ No strictly choice cattle were
available, but the week-end trade
®as generally steady on all classes.
tet "'eighty steers sold at $10.35,
yearlings 89.90. vealers from $12
S'1™ and bulls from $7.10 down.
receipts of 700 in the open
market were 300 less than advance
estimates.
i' at lambs closed slow and around
at5965 ’0WC,r' b6St cliPPers selling
-55' DePt. Agr.)—Salable hogs
sM ' total 10’00°l market moder
,h„LaCfive 10-15 higher than
Z*? s average on 250 lbs. and
heavier weights rather slow,
on hi! t0 10 higher closing dull
mshS KC,‘gh,s; top 625 Paid spar
k 1?0-270 lbs- 5.90-6.15;
los , , bs- 5.60-95; around 400-450
Ja'PPers°i mo0' bU,lk S°WS 4-90-5'25;
ooo^ estl*nated holdover
Snl.L,
20fi-km auie '00: salable calves
' ilh classes generally steady
ply Crra„,e strength on meager sup
Sood gradeHee*Solargely medium t0
choice h,GCb ,at 8-75-9.85 no strictly
I U5 1 ej.best 1.387 lbs. bullocks
^fer/or '^P 9 9°: few weighty
8 25- Jf75; most of crop 7.50
c«nners 6ei cows 6.25-7.50; with
'■eighty and cutters 4.00-6.00;
t10 down o,lage bulls steady at
!,eady seio * ers weak- Vealers
Salable PS up to 12-°°
ftt lambs 2'°°0: total 6-00°;
^est dandyWeiItair Und 25 lower;
ClUm to i'rtlght clippers 9.65; me
cuts mostly 7 ^nnds 8-75-9-25; throw
?«thwest J,50‘8 0°; one deck good
;at native !f‘mgeIs u-35 °dd head
3.00-4.00.
uvSSHw COTTON
'°tton quiet m’- May 17--t«—Spot
dotations‘’iP lces 6 Points higher.
Pet good miflri,penc0e: American,
7.62 midd 8 02; good mid
^ddiing 7 nct. middling 7.52;
°2i low mini,•,tn't low middling
***** ^gogod7;Hstrict good
, 1,sy 6.96- ,,5 od Ordinary 6,27.
V 6.74i ’ Jl»y 7.00; Oct. 6.86;
Closing Stock Quotations
I (By The Associated Bread)
A J ^mm_
^•'■P- 5 3-4 j
Adams Millii .. 19 7.4
Air Beduet_40 7.8
Alaska Jun _ 5
A1 Chem & Dye___.155
Alleghany _ 5.3
Allis Chal Mfg_29
Am Can _ 97
Am Car Fdy __ 25
Am Coml Alco_ 4 7.8
Am For Pow___ 7 7.4
American Po\v and Lt_ 2 5-8
American Rad and S't S .. 6
American Roll Mill ..77
American Smelt and Ref __ 38 1-4
American Sug Bef ..15 7.3
A T and T - 754 7.4
American Tob B _77 7.2
Anaconda _—_——— 2*^ 3 4
Arm 111 _ 4 7_8
A T and Sf _ 15
ACL - 72
Atlantic Refinery _ 21
Atlas Pov,’ _ 70
Aviat Corp _ 5 7.3
Baldwin __
B & O . „_ 8 72
Barnsdall _ 8 7.3
Bendix Aviat _29 1-2
Beth Steel_77
Boeing Airpl _20 7-8
Borden - 73 7.2
Borg Warner_Ig 7.4
Briggs Mfg - ig 3.3
Budd Mfg .«..... 3 5.3
Budd Wheel _ 3 7.3
Burl Mills .” 15 i_2
Bur Add Mach_ g 1-4
Calumet and Hfec_ 5 3.4
Can Dry ___ 15
Can Pac _ 3 7.4
Cannon Mills___32 1-4
Case J I --.... 49 3*4
Caterpil Trac _45
Champ P and F_22
Ches and O_33
C M St P and P Pf ... 1-4
'-.iiijoici - 5X 3-4
Coca Cola_113 1.5
Colum G ana E_ 5
Coml Credit_34
Com with and Sou_._ 1
Coml Solv _ 9 1.4
Consol Edis_<____ 26 5-8
Con Oil - 6 1-2
Cont Can__36
Corn Prod_-_ 61 1.2
Curtiss Wright _ 9 3-4
Curtiss Wright A_25
Davison Chem _ 4 5-8
Del Lack and W_ 3 1-8
Doug Aire _82 1-8
Dow Chem_153
DuPont _161
Eastman Kod_._139 3.4
Elec Auto Lt _. 31 1-2
Elec Pow and Lt ..._ 3 5-8
Firestone _16
Freeport Sul _ 29 7-8
Gen Elec _30 1-2
Gen Foods _._ 40 7-8
Gen Mot. 42 1-2
Gillette ______. 4 3-4
Glidden_._13
Goodrich _12 1-8
Goodyear _15 1-2
Graham Paige _ 11-18
Gt Nor Ry Pf_*_20
Hud Mot ..—— 3 7-8
Hupp Mot _ 5-8
111 Cent__.__ 7
Int Harvest _47 1-2
Int Nick Can_ 22 3-4
Int Tel and Tel_ 2 1-4
Johns Man_51 1-2 '
Kennecott__ 28 3-8 1
Kroger Groc _27
Libby OFG1___38 1-2
Ligg and Myers B_ 99 1-4
Loews _ 25
Lorllard _.__19
Louis and Nash_.. 44 3.4
Mack Truck_. 20
McCrory Stores __12 1-2
Mont Ward_ 39 3-8
Murray Corp_ 5
Nash Kelv_ 4 1.4
Nat Biscuit _19 1.2
Nat Cash Reg:_11 i-g
Nat Dairy Prod_._14 1-4
Nat Dist _20 1-4
Nat Lead _17 3.4
Nat Pow and Lt_ 6 5.8
N Y Cent. n i_2
No Am Aviat_._19 3-g
North Am_17
Ohio Oil _ g i_2
Nor Pac _ 5 ; 1
Otis Kiev _12 3-4
Pac G and E_ 28 3-4
Packard . 2 5-8
Param Pix_ 5
Penney J C_78
Penn Dix . 2 $-8
Penn Railroad _ 17 j_s
Phillips Pet _32 1-2
Ritt Scr and B _-_ 5 3-8
Public Service N J ..._34 1.2
Pullman -- 19 3.3
Pure Oil _ g
Radio _ 4 7_g
Rad k o ___3_4
Remington Rand _ 6 1-2
Republic Steel _...__ ig 3.8
Reynolds B _.......... 37 1.2
Scab A L_...._1-4
Scab Oil _..._...... 13 i.2
Sears - 87 5_g
Shell Urt ........- g 5-8
Bocony Vac __ g 5.g
Southern Pacific _” 8 1-4
Southern Railway _17 1.8
Snprrv .
Standard Brands _ 5 3.4
Standard OH Cal_20
Std Oil Iltd . 24
Std Oil N J -35 1.2
Stewart Warner___ 5 4.4
Studebaker_ 7
Swift -*_"20 1-2
Tex Corp _39
Tex Gulf Prod__ 2 3-4
Tex Gulf Sul _ 29 7-g
Timken Det Ax _21 1-2
Trans and West Air .._14 1-2
Transamer __ 4 7-g
Un Carb__ gg
Un Pac___ 34
Unit Aire _ 45 4.4
Unit Corp_ 4 4.2
Unit Drug .. 4 3.4
Unit Fruit_ 64 1-2
Unit Gas Imp_ 44 4.3
US Ind Alco_ 17 1-2
US Pipe_25 1-2
US Rub - lg 3-g
US Steel and Ref ,_ 49
US Steel _50 1-4
Vanadium _a_* 34 1-2
Vick Chem _ 42
Va Caro ChOm_ 2 1-3
Warner Pie____ 2 1-8
West Mary___ 3 4.4
Western Union _ 16 1-2
West Elec and Mfg __ 89 1-2
Wilson _ 4 7-8
Woolworth _ 34
fell T and C.— 12 1-2
foungs S and T_ 32 5-8
rotal sales, 3,074,340.
CURB
4sso G 8b El A _ 1-4
lan Marconi_-_- 11-16
lities Service __ 5 1-8
31 Bond & Sh _ 4 3-8
Gulf Oil _ 32 1-4
NEW YORK SUGAR
NEW YORK, May 17—<A>>—World
sugar futures crashed down to the
season’s lowest prices today with
losses of 12 1-2 to 14 points.
A deluge of speculative liquida
tion and stop-loss selling at one
time carried July within 1-2 point
of the daily allowed limit of 25
points. Brokers connected pressure
directly with Allied reverses in Bel
gium. Sales totaled 25.570 tons; July
1.28 1-2B, Sept. 1.28B.
The domestic list weathered severe
selling in better style, closing 1 to 6
points down on turnover of 19,600
tons.
Raw prices were purely nominal as
sellers withdrew offerings late in
the day and buyers took the side
lines. Earlier parcel lots of nearby
Puerto Ricans were offered at 2.85
cents a pound, late June shipments
Cubes at 2.90 duty paid and June
Philippines at 2.90.
Refined remained at 4.50 cents a
pound in eastern marts.
No. 3 range follows.
High Low Close
May _ 1-90 1.89 1.89N
julv _ 1.96 1.88 1.89B
Sept. _ 2-02 1.93 1.96B
jan ...-_ 2.02 1.94 1.96B
March _— 2.05 2.00 2.00
1941
May __— 2.12 2,04 2.04B
BBid.
N. Y. COTTONSEED OIL
NEW YORK, May 17.—MB—Cot
lonseed oil futures rounded out a
jumpy session with declines of 19
to 23 points today.
After holding steady early,
prompted by intimations of possi
ble government lard purchases for
relief purposes, the market headed
to the day’s lows when buyers
withdrew in the face of sharp de
clines in securities and other com
modities.
Sales totaled 134 lots; July 6.94m,
Sept. 6.57, Oct. 6.55b, Dec. 6.62b,
<b—Bid).
Crude oil was quoted nominally
at 5 5-8 cents a pound in the south
east and valley and 5 3-8 to 5 1-2
in Texas.
middling cotton
NEW ORLEANS, May 17.—I/B—
The average price of middling 15
16ths-inch cotton today at ten south
ern spot markets was 7 points low
er at 9.58 cents a pound; average
for the last 30 market days 10.44
cents.
CHICAGO POTATOES
CHICAGO, May 17—(A5)— (U. S.
Dept. Agri.) Potatoes 83, On track
207, total US shipments 773; new
stock slightly weaker supplies mod
erate demand slow; Bliss Triumphs,
Alabama US No. 1, washed few sales
2.25; showing spotted sacks 1.95,
unwashed 1.95-2.10; US No. 1, size
B, unwashed few sales 1.06-10;
Louisiana US No. 1, few sales wash
ed 2.20-35, unwashed 2.10; US No. 1,
size B, washed 1.60, unwashed show
ing spotted sacks 1.00; California
long whites US No, 1, washed under
initial ice very few sales few show
ing spotted sacks 2.25; old stock,
firm, supplies light demand fair; Ida
ho Russets US No. 1. few sales 2.05
25; Minnesota sandland section
round whites fairly good quality
1.57 1-2.
N. O. COTTONSEED OIL
NEW ORLEANS, May 17— <■£>> —
Cottonseed oil closed steady. Bleach
able prime summer yellow 6.00B;
prime crude nominal. May 5.90B,
July 5.9TB, Sept. 6.05B, Oct. 6.06B,
Dec. 6.11B. B-Bid.
SPOT COTTON
NEW ORLEANS, May 17— <•*>> —
Spot cotton closed dull 15 points
lower. Sales none. Low middling
8.51: middling 9.51; good middling
9.96; receipts 2,186; stock 656,613.
BALTIMORE POTATOES
BALTIMORE. May 17.—UB-Pota
toes unchanged.
RAILWAY, UTILITY
BONDS BATTERED
Other Groups, Including Most
Foreigns, Escape The
Selling Wave
NEW YORK, May 17.—(iR—Rail
road and utility bonds were batter
ed down badly in today’s market
but other groups, including most
foreign* and U. S. governments, es
caped the selling wave.
Some of the low-priced rails that
perked up smartly with the general
rise in stocks and bonds late Thurs
day were knocked down as much
as 6 points and a few utilities far
ed little better. “Selling hysteria”
was the term used by brokers to
describe the reasons behind the
fresh decline.
Indicative of how closely the mar
ket was tied to war developments
in Europe was the runup of ma
jor fractions to more than 3 points
in German and Danish government
bonds and a drop of 2 5-8 points
in French 7s. Italian governments
and municipals likewise were
higher.
Heavily hit in the domestic list
were Third Avenue adjustment 5s
at 15 5-8, Postal Telegraph 5s at
18, Western Union 5s at 60, New
England Railroad 4s at 35, Nickel
Plate 6s at 73, Erie 5s at 9, and
Bethlehem Steel 3 l-2s at 105 1-4.
Walworth 6s dropped 12 1-4 points
on sale of 4 bonds and common
wealth Edison Convertible 3 l-2s
yielded 4 7-8 on turnover of 117
bonds.
U. S. Governments closed 7-32
of a point lower to 4-32 higher.
Total sales of $9,729,000, par val
ue, compared with $7,491,175 Thurs
day.
NEW YORK COTTON
NEW YORK, May 17.—(43—The
cotton futures market plowed
through feeble buying opposition to
day and dropped 8 to 23 points.
After a briskly higher opening
due to steadiness at Bombay and
Liverpool, gains soon evaporated
when a sudden reaction in the Eng
lish market put prices down the
allowed limit.
Traders brushed aside all guide
lines but war news and with more
and more pessimism surrounding
the reports from abroad, little re
sistance developed to the steady
trek downward.
About the only consistent buying
that developed was the outgrowth
of increased activity in cotton tex
tiles during the morning.
Foreign selling, slow to appear at
the start, increased in tempo when
liquidating orders rolled into the
Chicago wheat pit and Wall street
securities markets and further un
settled cotton.
The flurry of cloth business in
Worth street was done chiefly at
the expense of prices. Sales of
print cloths, estimated at around
5.000,000 yards, were attributed
mainly to covering against govern
ment contracts.
Exports Thursday 4,088 bales;
season so far 5,998,139. Port re
ceipts 14,261. Port stocks, 2,628,
363.
Range follows:
\Tam<
Open High Low Close
July _ 9.62 9.62 9.41 9.41 off 08
Oct._ 9.14 9.14 8.77 8.80 off 23
Dec._ 9.04 9.04 8.66 8.70 off 22
Jan.. 8.98 8.98 8.60 8.64 off 22
March 8.85 8.85 8.51 8.53 off 21
Old:
May . 8.82 8.62 8.40 8.40N
July.9.43 9.44 9.15 9.50 off 14
n—Nominal.
Spot nominal; middling (7s-inch)
9.72.
STOCKS IN THE SPOTLIGHT
NEW YORK, May 17.—CP>—Sales
closing price and net change of the
fifteen most active stocks today;
Curtlss-Wrlght, 152,000—9%; down
1%.
Lockhead Aire. 81,700—34; down
394.
North Amer. Avia., 68,000—1994 ;
down 374.
Con. Motor, 52,600—374; down 94 •
Aviation Corp., 55,400—574 : down
174.
U. S. Steel, 48,700—5074 ; down 594.
Loft, 46,000—21; down 2%.
S-14 74 9431.;8__21-„ etaoin etaoin uu
General Moters 44,800—4274; down
274
Republic Steel, 44,400—16%; down
7.
Bath. Steel, 43,300—77; down 7.
Com’lth and South., 42,200—1.
United Aire. 36,700—4574; down
574.
N. Y. Central, 32,000—11%; down
74.
Baldwin Loo. Ct. 31,400—16; down
174.
Radio, 31,400—474; down %.
BUTTER AND EGGS
CHICAGO, May 17.—OR—Butter
)83,288, steady, prices unchanged.
Eggs 48,336, steady; fresh graded
firsts local 16 1-4; other prices un
rhanged.
Closing Bond Quotations
(By The Associated Press)
GOVERNMENT BONDS
Treasury
3Us, 41 _i.._i_193.27
3U, 47-43 ____ 107 2B
3Us, 45-43 ..108.1
3Us. 46-44 _ 108.31
4s, 54-44 ___112.18
2 Us, 47-45 ..107.10
3s. 48-46 __108.28
3Us, 49-46 ....__ 109.12
4Us, 52-47 .._.118.8
4Us, 52-47 l-eg- ..., 118.14
2s. 47 _ 103.18
2Us, 51-48_ ij.i__106.18
2s, 50-48 -_______ 101.31
3Us, 52-49 .i_110.16
2 U s, 53-49 __ 103.19
2Us, 54-51. 105.14
3s, 55-51 108,15
2Us, 53-51. i_.101.27
2Us, 60-55 ..105.20
2Us, 59-58 . 104.25
2Us. 63-58 ..- 104.6
2s, 65-60 ___ 104.5
Federal Farm Mtg.
3Us, 64-44 .. 106.20
3s, 49-44 _ 106.13
Home Owners Loan
2Us, 44-42 _103.12
3s. 52-44 _ 105.28
DOMESTIC
AT and SF, 4s, 95..- 103
Bkly. Nn El 1st 5s, 50_107
Can Pac 4s, jerp_>_ 48
C and O 4%s, 92_122U
CB and Q 4yas, 77 ... 79U
Chi E 111 5s. 51_ 12
Chi Gt West 4s, 59 ___ 22
Cri and P rfg 4s, 34 _ * 514
Clev Un Term 5%s, 72 I" 75
Clev Un Term 4%s,77c_ 62
D and RG West, 5s, 55 2
Brie RF 5s, 67 _ 9%
Fla East Cat 6s, 74~~ ~ 314
Hud Coal 5s, 62a____2714
Hud and Man rfg 5s 57 I 41
Int Gt N adj 6s, 52_ 1%
Int Mer Mar 6s, 41_” 61%
Lou and N 4%s, 2003 _ 88%
Mo Pac gen 4s, 75 ’ ” 2
NYC ff 2013 _+1112" 49_%
Norf and W 4s, 96 ___122
Nor Pac 6s, 2047 .Z.ZZZZ 51
Penn RR gen 414s, 65_ 99%
Phi! Read C and S cv 6s, 49 ___ 3
Purity Bak 5s, 48__Z_i02
Seah A1 cn 6s, 45 „+**+_»_ 414
3o Pac rfg, 4s, 55 __ 56%
So RY cn 5s, 94 _ 8614
3o RY gen 4s, 56_ 50
Tlhr Ave 4s, 60 _ 60
West Md 4s, 52 ___ 80%
Foreign
Australia 5s. 55_•_ 50
Australia 4%s. 56_ 47
Belgium 7s, 55 _ 35
Brazil 6!'2s, 26-57 ... 11%
French 7s, 49 _ 112%
3er Govt 7s, 49 __ 1514
Italy 7s, 51___40%
lapan 6%s, 54 ___ 81%
Orient Dev 5%s, 58 _-_ 51
Rio Gr Do Sul 6s, 68_ 7
CHICAGO GRAIN
CHICAGO, May 17.— <#—.After a
show of stability, wheat prices to
day went into another tailspin that
carried values down more than 5
cents a bushel at one stage, wip
ing out the gains scored yester
day. ' i
News from Europe froze a weak
buying movement almost before it
could get under way, frightening
owners of grain contracts and chill
ing would-be buyers.
May wheat fell to 86 and July
to 84, the latter within 3-4 of the
low reached yesterday at the bot
tom of the week’s sensational 25
cent decline. Although rallying
slightly before the final bell, wheat
closed 3 1-2-5 cents lower than yes
terday, May 86 3-4-1-2, July 84 3-4
1-2.
Corn was 1 7-8-2 1-2 lower, May
Cl 1-8-1-4, July 61-61 1-8, oats 3-4
1 1-8 off; rye 2 1-2-3 3-8 down; soy
beans 1-2-2 off and lard 3 lower
to 2 higher.
Early in the session wheat drop
ped 2 cents, then rallied to around
previous closing levels only to
slump anew about 3 cents after
midsession. There was another ral
ly before the final break. This
erratic trade reflected nervousness
over the war but the market found
some support from mills and other
consuming interests. However,
brokers said late selling apparent
ly was similar to that which has
swept the pit all week, being
prompted by weakness of securi
ties.
xuia tjrpc \jx ocumg yyoo wiouivu
by brokers on fear that the war
may cause unpredictable changes
in economic conditions or even that
hostilities may be short and con
cluded by German dictation. If not
influencing sellers, this attitude
may be deterring buyers from giv
ing normal support that could be
expected after such a rapid decline.
The blitzkreig caught the wheat
market top heavy with weekly held
contracts due partly to the fact that
liquidation of approximately 140,
300,000 bushels that had been under
government loans was absorbed the
past few months. Risk of owner
ship of this grain was transferred
from the government to private in
terests and much of this risk was
put on the futures market, which
is normal practice.
Open High Low Close
WHEAT:
May _89% 90% 8* 86%
July_87% 89 84 84%
Sept_88% 89% 84% 84%
CORN:
May_... 62% 63% 60% 61%
July_62% 63% 60% 61%
Sept. _62% 63% 60% 60%
OATS:
May _39% 39% 37% 38%
July_34% 35% 33% 34
Sept. _32% 33% 31% 31%
SOY BEANS:
May _97% 98 96 96
July. 95 95 93% 93%
Oct. _80% 81% 80 SO
RYE:
May_ 50 50 46% 46%
July.. 51% 52% 48% 48%
Sept. _53% 54 49% 50%
LARD:
May __ — — 5.52
July____ 5.75 5.85 5.67 5.52
Sept._ 5.90 6.10 5.85 5.90
Oct._ 6.00 6.20 5.95 5.97
Dec- _ 6.12 6.30 6.12 6.15
BELLIES:
May __ _ _ 6.60
July _ 5.65 5.75 5.65 5.75
Sept. __ ... ... 6.60
BUTTER
NEW YORK, May 17.—Butter
191,794, unsettled. Creamery: High
:r than extra 27 3*4 to 28 1-2; extra
(92 score) 27 1-4 to 1-2; firsts (88
>1) 26 1-2 to 27 1-4; seconds (84-87)
!5 1-4 to 26 1-4,
FOREIGN EXCHANGE
NEW YORK, May 17.—(*)-While
the British pound slumped 5 cents
in terms of the dollar, the Swiss
frane shot up nearly a full cent to
day.
Breaking out of its usual sedate
price range, the Swiss currency
rose .85 of a cent at the close of
the foreign exchange market. The
unit has been under pressure re-,
cently as rumors mounted of possi
ble Nazi “protection” of the coun
try. Short covering was believed
inspired by the theory the reports
were baseless.
Sterling held its own for a time
but as news Of Allied reverses be
came more and more frequent,
pressure increased. The French
franc dropped .02 3-4 of a cent.
Closing rates follow (Great Brit
ain in dollars; others in cents):
Great Britain, demand 3.20 1-2,
cables 3.21, 60-day 3.17 1-2, 90-day
3.16 1-4. Belgium unquoted, Den
mark unquoted, Finland 2.00,
France 1.82, Germany 4.00 (benevo
lent) 17.50, Greece .63, Hungary
17.65n, Italy 5.05, Netherlands un
quoted, Norway Unquoted, Portugal
3.25, Rumania ,42n, Sweden 23.85n,
Switzerland 22.29, Argentine official
29.77, free 22.90, Brazil official 6.05,
free 5.10, Hongkong 20.16, Shang
hai 5.60.
(Rates in spot cables unless oth
erwise indicated, n—Nominal).
mw unLLAns uiiivn
NEW ORLEANS, May 17.—UP)—
Cotton futures broke $1.15 to $1.50
a bale today under war news and
weakness in other markets. Closing
prices were barely steady 15 to 22
points net lower.
Open High Low Close
May_ 9.79 9.79 9.72 9.72(x)
July_ 9.54 9.54 9.21 9.32 off 15
Oct._ 9.17 9.17 8.76 8.85 off 21
Dec. _ 9.05 9.05 8.67 8.74 off 21
Jan._ 8.80 8.80 8.80 8.67b
March_ 8.87 8.87 8.54 8.56 off 22
May, 1941.. 8.68 8.68 8.68 8.43b
(x)—May expired at noon today.
b-^-Bid.
CASH GRAIN
CHICAGO, May 17—UP)— Cash
wheat No. 3 red 90 1-2; No. 2 hard
91 1-2.
Corn No. 1 yellow 66-67 1-2; No.
2, 68; No. 5, 66 1-2.
Oats sample grade mixed 37; No.
3 white 38 3-4; sample grade feed
36.
Barley, malting, 53-66 nom; feed
40-50 nom.
NEW YORK POTATOES
NEW YORK, May 17.—I/P>—Pota
toes irregular. No. 1, 100-lb. sack,
Maine, Green Mountain, “A” size
1.90-2.00; Chippewa and Katahdin,
2-inch minimum 2.05-10, some larg
er Katahdin 2.25. New crop: Flori
da, bu. bskt., tub, box or crate, No.
1, Katahdin, washed 1,15-35, some
1.40; Spaulding Rose, unwashed
I. 00-1.15.
EGGS
NEW YORK, May 17.—UR—Eggs,
II, 873; weak. Mixed colors: Fancy
to extra fancy 19 to 20 3-4; extras
13 1-2 to 3-4; storage packed firsts
18 1-4; graded firsts 17 1-2; current
receipts 16 1-2; mediums 16; dirties
No. 1, 15 3-4; average checks 15 to
15 1-4.
DIVIDEND DECLARED
CINCINNATI, May 17. — UPI —
Champion Paper & FTbre Co. di
rectors declared a 25-cent common
stock dividend today, payable June
15 to holders of record May 31. A
15-cent payment was made March
15.
SPOT COTTON
CHARLOTTE, May 17—DP)—Spot
cotton 9.86. I
a —-—--—
DAILY CROSSWORD
ACROSS 5. Fowl’s crest dove
1. Whip 6. Jewish 27. Siamese
handle month coin
5. Tent col- 7. Ethical 30. Sliced
lection 8. Assume cabbage
0. Home of a 13. To box 31. Fears
bee 15. Oceans 33. Swiss lake
10. Smell 19. Runner for 34. Fencing
11. Mental ice travel sword
impression 20. Funeral 39. A fray
12. Female piles 40. Zodiacal
horse 21. Harangue sign v.,urd»v’. Answer
13 Fragrance 22. Caucasian 42. A number Ye,terda} s Answer
14. Contemptu- liquor 43. Habitual 44. Dancing girl
ous children 25. Cry of a drunkards 45. Girl’s name
16. Golf term
17. Confederate
general
18. Argentum
(sym.)
10. A spirit
23. Natrium
(sym.)
24. Shaky
26. Peruses
28. Rowing
implement
29. Astern
30. Young hog
32. Name
35. Behold!
36. Glacial ridge
37. Aloft
38. Human limb
40. High card
41. Bird (pi.)
44. Consent
46. Medley
47. Den
48. Tear
40. Appearance
50. Observes
51. Otherwise
DOWN
1. City in Illinois
2. Horseman
3. Baking
chamber
4. A fuel
DRV GOODS
NEW YORK, May 17—IB—Print
Cloth transactions were heavy today
with sales estimated at more than
5,000,000 yards and 1-8 of a cent a
yard below mill prices. The brisk
demand from converters was based
principally on covering on goods
sold to government agencies. Gov
ernment bids to be opened in Wash
ington today are expected to result
in additional buying.
Washable dress goods were most
active in the rayon section, with
sharkskins and sport weaves sell
ing well. Sheer prices held firm while
pigment taffetas were uneven.
Silk undergarment manufacturers
are still awaiting a more stable trend
in raw silk prices, and the turn
over was light. Price cutting In
Nylon hosiery Is not expected to af
fect all-silk hose to any extent.
War uncertainties continue to
hamper operations in woolen goods,
although fair amounts were sold.
Some purchases have been made for
summer coats, tweeds and worsteds.
RICHMOND LIVESTOCK
RICHMOND, Vg., May 17.—(AO—
Livestock; Hogs—Good and choice
180 to 225 lbs. 5.80 to 6.00; 100 to 120
lbs. 4.00 to 4.50; 120 to 140 lbs. 4.50
to 5.20; 225 to 250 lbs. 5.30 to 5.80;
250 to 300 lbs. 5.10 to 5.60; over 300
lbs. 4.80 to 5.30; sows under 350 lbs.
4.25 to 4.75; over 350 lbs. 3.75 to
4.25.
Cattle—Mostly good steers 9.50
to 9.75; few 10.00. Most fat cows
around 6.00 to 6.50 with canners and
cutters largely 4.00 to 5.00. Weighty
sausage bulls 6.50 to 7.00, light kind
downward to 5.00. Fed butcher type
bulls to 7.50. Bulk of good vealers
topped at 10.00.
Spring lamb trade less active
with bulk good and choice grades
selling largely 10.00 to 11.00.
OBTAINS DIVORCE
LOS ANGELES, May 17— OB —
Martha Raye, screen comic, obtain
3d a three-minute divorce today
from her second husband, David
Rose, composer and arranger. Miss
Raye testified Rose had been cruel
o her since their marriage in En
senada, lower California, Oct. 8,
1938.
BALTIMORE HOGS
BALTIMORE, May 17.—OR-(U.
3. Dept. Agr.)—Hogs 350. 10 higher;
practical top 6.05, good and choice
L70-210 lbs. 6.20-45; 220-240 lbs. 5.95
5 20; 250-300 lbs. 5.45-6.00; 150-160
bs. 5.85-6.10; 140*150 lbs. 5.70-90;
130-140 lb,. 5.45-70; 120-130 lbs. 5.25*
>5. Packing sows 4.35185.
PEANUTS
SUFFOLK, Va., May 17.—LP)—
Peanut quotations: Jumbos 3 7-8
;o 4; bunch 3 1-2 to 3.60; runners
11-4 to 3 3-8. Market quiet.
CHICAGO LARD
CHICAGO, May 17— <A>) —Lard
ierces 5.87; loose 4.90; bellies 6.00.
Two Committee Members
Announced By Galphin
R. W. Galphin, county farm agent
innounced yesterday that E. L.
3rooks and Dan J. Herrin have been
ippointed to serve on a special com
mittee composed of farmers, civic
eaders and merchants.
The group seeks the establishment
)f better relations between farmers
end business men in New Hanover
md ajoining counties.
The committee, including E. B.
Ward, Peter Braak, Paul T. Marsh
burn, and Dan Earp, will be called
to meet at an early date to nomi
nate executives, advertising, ways
and means committees suggested at
recent meeting of farmers and busi
ness men.
THIS WHISKEY
IS YEARS
90 PROOF
HOW DID THIS STUFF GET BEYOND THE ADVENTURE STRIP STAGE?
I IVE YEARS
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