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The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, June 02, 1940, Section Two, Image 16

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Fear Of Italy’s Entry
Retarding Stock Trading
_ ± _ —
No Real Pressure Appears,
However, And Some
Shares Gain
By FREDERICK GARDNER
NEW YORK, June 1.—-UP)—Hesi
tancy returned to tlie stock market
today after a week devoted mainly
to calming war-shaken speculative
nerves.
Many trades had extended their
Memorial Day recess over the con
cluding- short session, and others
who appeared in boardrooms, in
clined to lighten commitments in
view of fears Italy would jump into
the conllict on tne siue oi unc
over Sundav, or that Hitler would
spring a new blitzkrieg.
Negligible selling throughout, how
ever. offered some encouragement to
bullish contingents. Lack of an>
real pressure was attributed to
thoughts of some that the adminis
tration’s huge rearming program wifi
put props under numerous indus
tries that may be hit by unsettled
' foreign trade.
Conflicting Opinions
There were conflicting opinions,
though on the effect of defense
spending on corporate profits. These
brought up the outlook for much
heavier taxation on both companies
and individuals which might put a
serious damper on inflationary ps\ -
chology.
In today’s brief session irregular
ity persisted from the opening on,
with declines of fractions to a point
in the majority at the close.
With the ticker tape loafing to
the finish, transfers of 273,440 were
the smallest for Any Saturday since
January 20. They compared with
dd4,330 a weeu a^o. xnc
Press average of 60 stocks was off
.1 of a point at 3S.5, but on the
week it showed a net gain of .4 of
a point. It was the first weekly
advance in five weeks.
With the exchange closed Thurs
day for Memorial Day, the week’s
volume of about 3.000,000 shares
compared with 10.000,000 the week
before, when quotations were evapo
rating.
Among the day’s losers were U.
S. Steel, Bethlehem, United Aircraft.
Douglas Aircraft, Lockheed, Ana
conda, American Smelting, Sears
Roebuck, Montgomery Ward, Great
Northern, Texas Corp-, Union Car
bide and Westinghouse.
General Motors and Chrysler were
unchanged until the last few min
utes when they edged up minor frac
tions. Ahead small amounts were
American Telephone, Western Un
ion, Santa Fe, Sperry and Goodyear.
Steel Outlook
The market had the benefit of
forecasts of a brisk increase in next
week’s steel mill operations.
Bonds and commodities were mix
ed. Wheat at Chicago was up 1-4 to
5-8 of a cent a bushel and corn
gained 1-8 to 8-8. Cotton lost 5 to
15 cents a bale. “Free” sterling
backed down, along with the French
franc.
In an uneven curb firmness was
displayed by Aluminum of America,
American Cyanamid “B’’ and Jones
& Laughlin. Lagging were E. W.
Bliss, Gulf Oil, Humble Oil, Elec
tric Bond & Share and Brewster
Aero. Activity here was the most
sluggish since August 19, last, with
transfers of around 44,000 shares
comparing with 101,000 on the pre
vious Saturday;
The stock list suffered its worst
relapse in May since 1933, the As
sociated Press average losing 11.6
points. The month’s volume was the
largest since last September and
the heaviest for any May in seven
years.
AVERAGES
30 15 15 60
Indus P.ails Util Stks
Net change . d.2 d.l unch d.l
Saturday_- 54.6 13.6 31.5 38.5
Prev. day ... 54.8 13.7 31.5 38.6
Month ago 71-1 18.6 39.1 49.8
Year ago__ 67.1 18.5 37.2 47.3
1940 high .... 74.2 20.5 40.6 52.‘*
1940 low_ 53.5 13.1 31.1 37.7
1939 high ... 77.0 23-8 40.6 53.9
1939 low_ 58.8 15.7 33.7 41.6
60-Stock Range Since 1927:
1937-38 1932-36 1027-2#
High _ 75.3 72.8 157.7
Low .. 33.7 16.9 61.8
What Stocks Did
Sat. Fri.
Advances _ 150 326
Declines _ 222 177
Unchanged _ 174 177
Total Issues_ 546 680
STOCKS IN THE SPOTLIGHT
Sales, closing price and net change
of the fifteen most active stocks to
day:
Stand Oil N J, 8,400—30; no.
Int Pap and P, 6,600—12% ; a%.
Comwlth Edis, 5,500—26%; dVs.
Anaconda, 5,100—21%; dVs.
US Steel, 5,000—46%; d%.
Beth Steel, 4,800—70%; d%.
Lockheed Aire, 4,800—29%; d%.
Gen Motors, 4,200—40%; a%.
Bklyn Man T, 3,700—10%; d%.
Crown ZelJer, 3,400—13; d%.
Radio, 3,300—4%; no.
Curtiss-Wnght, 3,000—8% ; no.
Nor Am Aviat, 2,900—17%; d%.
Unit Aire, 2,900—42%; dl%.
Int Pap and P Pf„ 2,800—47; a%.
NY Central, 2,800—10%; no.
BUTTER AND EGGS
CHICAGO, June 1.—UP)—Butter 1,
804,165; steady; creamery 89 score,
24: 88, 23 1-2; other prices unchanged.
Eggs 34,448 weak; fresh graded,
extra firsts, local 15 3-4; cars 16;
firsts, local 15 1-2; cars 15 3-4; cur
rent receipts 13 1-2; dirties 12 1-2;
checks 12 1-4; storage packed extras
■ 16 3-4; firsts 16 1-2.
PEANUTS
SUFFOLK, Va„ June 1.—UP)—
Jumbos 3.90 to 4.10; bunch 3 1-2 to
3.65; runners 3 3-8 to 3 1-2. Market
firm.
N. C. HOGS
RALEIGH, June 1.—(fP)—(NCDA)
Hog prices were steady at 5.25 tops
at Kinston and Rocky Mount today.
Answers To
Cranium Crackers
(Questions on Comic Page)
1. Etymology is the study of the
tieriviation of words; entomology
is the study of insects.
2. A gourmand is a luxurious
eater, a glutton; a gourmet is a
connoisseur in eating and drinking,
an epicure.
3. An antonym is a word which
is the opposite in meaning of an
other word in the same language;
a homonym is any of two or more
words alike in sound but different
in meaning; a synonym is one of
two or more woras navmg i n <=
same or nearly the same essential
meaning.
4. The same thing. The words are
synonymous.
5. Cryptogam, a plant of any
group below the seed plants or
spermatophytes. A cryptogram is
writing in cipher.
CHICAGO LIVESTOCK
CHICAGO, June 1. —(J5)— (U. S
Dept. AgT.)—Salable hogs 300; total
4.S00: not enough good and choice
hogs to try prices; quotable top 5.00;
shippers took none; estimated hold
over 500; compared week ago; hogs
weighing around 250 lbs and under
approximately steady; heavier
weights on sows 10—15 lower.
Salable cattle 200; no calves; com
pared Friday last week: Fed steers
and yearlings steady; ali grades un
der pressure late in week; general
market fairly active, however, con
sidering increased receipts early in
week and lover hide prices; heifers
closed steady to strong; cows strong
to 25 higher, beef cows up most;
bulls fairly steady but vealer 50—
1 on lower: largely steer and heifer
run, with common and medium
grades both classes scarce, espe
cially plain and medium heifers;
cows also below trade requirements;
long-fed heavy steers scaling 1,350
lbs upward in moderate supply, bulk
steer run being strictly good to
choice light and medium weight of
ferings; feeders steady; extreme top
strictly prime fed steers 12.40: next
highest price 11.75: best light year
ling steers 11.00; heifers 10.65 iight
offerings 10.25; killers got very little
under S.75. feeder dealers competing
for qualified light steers at 10.00
down; practical top on choice veal
ers on post-holiday trade 10.50. out
side 11.00.
FOREIGN EXCHANGE
NEW YORK, June 1.— (iP> —Th«
pound sterling declined today nearly
as fast as it advanced Friday.
The British currency lost 2 1-2
cents in relation to the dollar after
rising 4 cents yesterday. The French
franc dipped .01 of a cent.
Closing rates follow (Great Brit
ain in dollars, others in cents):
Canada: Official Canadian control
board rates for U. S. dollars: buying
10 per cent premium, selling 11 per
cent premium, equivalent to dis
counts on Canadian dollars in New
York of buying 9.91 per cent, selling
9.09 per cent.
Canadian dolla- in New York open
market 21 3-4 per cent discount, or
78.25 U. S. cents.
-I_JUiuyc . Uicat JJl uvmuiiu
3.20 1-4, cables 3.21, 60-day 3.18 3-4,
90-day 3.17 3-4. Belgium unquoted,
Denmark unquoted, Finland 2.00N,
France 1.82, Germany 40.12N (benev
olent) 18.00, Greece .61 1-2, Hungary
17.65N, Italy 5.05, Netherlands un
quoted, Norway unquoted, Portugal
3.30, Rumania .52N, Sweden 23.85N,
Switzerland 22.40, Yugoslavia 2.35N.
Latin America: Argentina official
29.77, free 22.50, Brazil official 6.05,
free 5.10, Mexico 16.90N.
Far East: Japan 23.48, Hongkong
20.30, Shanghai 5.55.
(Rates in spot cables unless other
wise indicated. N-Nominal).
CHICAGO GRAIN
CHICAGO, June 1.— (JP) —Wheat
prices were almost a cent higher at
one time today but then fell below
the previous close only to rally again
and close with small net gains.
Wheat closed 1-4—5-8 cent higher
than yesterday, July 82 81 7-8, Sep
tember 82 1-4—1-4; corn 1-8—3-8 up,
July 61 1-2, September 60 7-8; oats
unchanged to 1-4 higher.
Open High Low Close
WHEAT:
July -81% 82% 81% 81%
Sept -81% 82% 81% 82%
Dec -82% 83% 82 82%
CORN:
July -61% 61% 61% 61%
Sept -61 61% 60 %> 60%
Dec -.- 58 58% 57% 58%
OATS:
July - 33%
Sept -31% 31% 31% 31%
SOY BEANS:
July - - - 89%
Oct _ _ _ 77
Dec - -- 78%
RYE:
July - 45 45% 44% 45
kj^ 1/1, -_ _ uu ,4 ti /* to72 tu 74
Dec _ 49 49 48% 49
LARD:
July _ 5.10 5.15 5.10 5.1t
Sept _ 5.27 5.35 5.27 5.3:
Oct _ 5.37 5.45 5.37 5.4S
Dec _ 5.52 5.57 5.52 5.5';
BELLIES:
July - 5.60 5.72 5.60 5.71
Sept _ _ _ 6.5(
HOGS
BALTIMORE, June 1 — OP) — (U
S. Dept. Agr.) — Hogs — 300. Nom
steady. Compared with week age
butchers 170 lbs. up and packing
sows 5 lower; light lights 5-25 lower;
pigs 30 off; practical top 6.00. Good
and choice 170-210 lbs. 5.75-6.00; 220
240 lbs. 5.50-75; 250-300 lbs. 5.00-55;
150-160 lbs. 5.40-65; 140-150 lbs. 5.00
25; 130-140 lbs. 4.75-5.00; 120-130 lbs
4.60-85. Packing sows 3.90-4.40.
NORFOLK SPOT
NORFOLK, Va., June 1.—(£>)_
Spot cotton unchanged. Middling
fair 10.65; middling 10:10; good ordi
nary 7.95. Sales receipts shipments
none; stock 24,287.
WAR INDUSTRIES
BOOM PREDICTED
Steel Centers Feel Initial Im
pulse Of Great Arms
Spending Drive
BY FRANK M’MILLEN
NEW YORK, June 1.—(A3)—Busi
ness charts pointed today to a war
industry boom under the lift of
Uncle Sam's multi-billion dollar de
fense program.
Steel centers felt the initial im
pulse of the greatest arms spending
drive since World war years as con
sumers hurried to accumulate metal
before government orders occupy
mill capacity.
Many mills, trade reports said,
planned to step up operations rapid
ly this month. Some observers sug
gested the busiest summer of steel
making in a decade was in prospect
if the buying rush continues and
Washington’s expanded arms pro
gram gets going soon.
On The Rise
Industrial barometers were on the
rise as a result of a quick jump
in steel production and preparations
in various industries for the antici
pated boom in war equipment manu
facture.
Indications that federal appropria
tions for the fiscal year starting
July 1 may top $10,000,000,000 in the
heaviest government spending since
1917-18 centered business attention
on Washington efforts to speed the
defense plans.
Eclipsed by the proposed $5,000,
000,000 defense outlay were the New
Deal’s "pump-priming” campaigns
which absorbed the interest of finan
cial circles in recent years.
Speculative markets, nevertheless
were strangely inert in contrast witn
tlio DVoitn m ant Kir nnviiA n-mr
ernment spending announcements of
previous years.
Resting after the bad spill on news
of the Allied defeats in the Low
Countries and northern France, se
curity and commodity markets ended
a relatively quiet week today with
little outward display over the im
pending huge federal expenditures
and trade forecasts of a boom in
heavy industry.
NEW YORK COTTON
NEW YORK, June 1. — UP) — In
creased domestic and foreign selling
tripped the cotton futures market
after early gains today. Final prices
were down 1 to 3 points
The market played over a fairly
wide range as traders tried to adjust
their positions to the coming week
end and possibility of more violent
European disruptions.
The threat of curtailed textile mill
activity, said to be due in part to
too high raw cotton prices, also was
rated a market influence.
Trade buying and a steady Bom
bay market tempted early support.
The bulge, limited to an outside of
7 points, immediately attracted liq
uidating orders from both foreign
and domestic sources. Pressure in
creased with further hedge selling
by large spot interests and prices
dropped as much as 12 points be
fore liquidation slackened.
Short covering and price fixing
for mill account pulled the market
up from the lows.
Worth street reported gray goods
sal PS WPTP TVPll Hoi DTT7 onr-roni
duction. Curtailment is gradually
gaining momentum.
Exports Friday 3,434 bales; sea
son so far 6,120,087. Port receipts
4,867; port stocks 2,574,539.
Range follows:
Open High Low Close
July .. 9.59 9.59 9.49 9.59 off 1
Oct ... 8.67 8.68 8.57 8.64 off 1
Dec __ 8.59 8.59 8.50 8.54 off 2
Mch _. 8.39 8.39 8.32 8.34 off 3
May .. 8.25 8.26 8.20 8.22 off 1
Old:
July _. 9.46 9.47 9.28 9.38 off 2
Spot nominal; middling (T/8-inch)
10.21.
POTATOES
CHICAGO, June 1.— UP) — (U. S.
Dept- Agr.)—Potatoes 111; on track
353; total US shipments 1,037; new
stock—supplies liberal; demand fair
at lower prices; weaker; sacked per
cwt. California Long White washed
US 1, under initial ice 2.55-60; under
ventilaton 2,50-60; US commercals
under ventlaton 2.40-45; Texas cob
blers US 1, washer car 2.60; Ala
bama Bliss Triumphs US 1, washed
2.60-70; US 1, unwashed 2.50-55; US
1, size B washed car 1.60; US 1, size
B unwashed 1.50-55 ; Louisiana Bliss
Triumphs few sales US 1, unwashed
2.50-55; US 1, size B washed 1.45-50;
car showing heated fair condition
1.35; old stock—supplies light; de
mand light; slightly weaker; sacked
per cwt. Idaho Russet Burbank US
1, very few sales 2.60-65.
a. uuti/iLn/iDLiEi
NEW YORK, June 1.—<iP)—Bleach
able cottonseed oil futures advanced
2 to 8 points in quiet trading today.
Week-end short covering in absence
of pressure accounted for the upturn.
Sales totaled 12 contracts.
Crude oil was quoted 5-5 1-8 cents
nominal in the southeast and Valley;
Texas Oil also was nominal at 4 7-8-5.
AVERAGE
NEW ORLEANS, June 1.—(•£>)—
The average price of middling 15-16
inch cotton at ten designated south
ern spot markets today was one
point lower at 10.10 cents a pound:
average for the past 30 market days
was 10.15 cents. Middling 7-8-inch
average 9.92 cents.
CASH GRAIN
CHICAGO, June 1. — UP) — Cash
wheat, no sales reported. Corn, No.
1 yellow 64 8-4-66 1-4; No. 2, 65 3-4.
Oats No. 2 white 37 1-4-1-2; No. 3,
36-36 1-2. Barley malting 55-65 nom;
feed 40-50 nom; No- 2 malting 62.
LARD
CHICAGO, June 1. — <A>) — Lard
tierces 6.10; loose 4:35; bellies 5.70.
4
Closing Bond Quotations
(By the Associated Press)
government
3%s 46-44 -■■-108.3
4%s 52-47 - 117.8
2%s 60-55 - 105
2%s 59-56 --- 103.27
2%s 63-58 ---- 103.24
2%s 65-60 - 103.25
Final bond sales: $1,915,250.
DOMESTIC
AT and SF 4s 95 -102
Can Pac 4s Perp- 43
Chi E 111 5s 51- 11
Chi Gt West 4s 59-- 22
Cri and P Rfg 4s 34- 4%
Clev Un Term 4%s 77C- 63
Erie Rf 5s 67- 9%
Fla East Cst 5s 74 - 5
Hud Coal 5s 62A- 26%
Hud and Man Rfg 5s 57 - 39%
[nt Mer Mar 6s 41- 54
Mo Pac Gen 4s 75- 1%
NYC Rf 5s 2013 ... 46%
Norf and W 4s 96-119
Nor Pac 6s 2047 - 48%
Penn RR Gen 4%s 65 - 9474
Phil Read C and I Cv 6s 49 „ 2%
Puritv Bak os 48 - 100%
So Pac Rfg 4g 55 - 54%
So Ry Cn 5s 94 - 84%
So Ry Gen 4s 56 - 46
FOREIGN
Australia 4%s 56 --— 37%
Belgium 7s 55- 39
Brazil 6%s 26-57 - 10
French 7s 49 -110
Ger Govt 7s 49 - 20%
Italy 7s 51- 40
Japan 6%s 54 - 77
Orient Dev 5%s 58 - 50%
Closing Stock Quotations
(By the Associated Press)
Adams Exp_ 4%
Adams Millis_ 17
Air Reduct _ 39
Alaska Jun_ 4%
A1 Chem and Eye _142
Alleghany - 9-16
Allis Chal Mfg- 25%
Am Car Edy _ 23
Am For Pow- 1%
Am Pow and Et_ 2y2
Am Rad and St S_ 5%
Am Roll Mill__ 11
Am Smelt and Ref_ 347s
A T and T_149%
Anaconda_ 21 %
Arm 111-- 4%
AT and SF_ 14%
ACE- 10%
Atl Ref- 20 ..
Aviat Corp _ 5%
Baldwin - 13 7a
B and O_ 3%
Barnsdall _ 7 %
Bendix Aviat _ 27 %
Beth Stl_ 70 7s
Boeing Airpl - 15%
Borden _ 18 %
Borg Warner- 15%
Briggs Mfg_ 1574
Budd Mfg_ 3%
Budd Wheel_ 3 7s
Burl Mills _ 13%
Bur Add Mach _ 8
Calumet and Hec_ 5%
Can Dry_ 2 %
Cannon Mills _ 30
Caterpil Trac_ 4G Vi
Clies and O_ 32%
P AT CJ* D nn^ 13 nf O <
Chrysler - 58%
Coca-Cola _ 103
Colum G and El_ 4%
Coml Credit _*_ 29 %
Coml Solv _ 8%
Comwlth and Sou__ 15-16
Consol Edis_ 24%
Con Oil _ 6%
Cont Can _ 35%
Corn Prod _ 45%
Curtiss Wright _ 8%
Curtiss Wright A_ 24%
Davidson Chem_ 4%
Del Lack and W_ 2%
Doug Aire_ 76%
DuPont _ 156
Elec Auto Lt _ 28
Elec Pow and Lt_ 3%
Freeport Sul_ 27
Gen Elec _ 29%
Gen Foods_ 39
Gen Mot_ 40%
Gillette _ 4 %
Glidden _ 12
Goodrich _ 11 %
Goodyear _ 14%
Graham Paige_ %
Gt Nor Ry Pf —. 18%
Hud Mot _ 3%
Hupp Mot - 54
111 Cent_ 6%
Int Harvest_ 10%
Int Nick Can- 20%
Int Tel and Tel- 2%
Johns Man _ 19%
Kennecott - 27
Kinney _ 1%
Kroger Grco_ 25%
Libby OFG1_ 32%
Ligg and Myers B- 92
Loft- 18%
Lorilar'1 -- 19%
Mack Truck_ 18%
McCrory Stores_ 11 %
Mont Ward- 35%
Murray Corp _ 4%
Nash Kelv - 4%
Nat Biscuit_ 18%
Nat Cash Reg:_ 10 Mi
Nat Dairy Prod _ 12%
Nat Dist _ 18%
Nat Povv and Lt_ 6
NY Cent _ 10%
No Am Aviat_ 17%
North Am - 15%
Nor Pac _ 5 Vi
Ohio Oil _ 6
Otis Kiev _ 12
Pac G and El _ 26%
Packard _ 2 ;:i
Param Pix_ 4 :)i
Penny J C_ 74
Penn RR - 16%
Phillips Pet_ 30
Pitt Scr and B _ 5 Vi
Pub Svc N J _ 34
Pullman _ 18 %
Pure Oil _ 7%
Radio _ 4
Rad K O_-_ %
Rem Rand _ 6%
Rep Stl- 15%
Reynolds B- 33 %
Seal) A L- Vi
Seal) Oil _ 12%
Sears _ 65
Shell Un _ 8
Socony Vac_ 7%
Snn Par* 7 5/,
Sou Ry_ 9%
Sperry _ 39
Std Brands _ 5%
Std Oil Cal _ 18
Std Oil nd _ 21%
Std OS N .1_ 30
Stewar Warner _ 5%
Studebaker _ 6Vi
Swift _ 19
Tex Corp _ 35
Tex Gulf Sul _ 29%
Timken Det Ax_ 20%
Transamer_ 4%
Trans and West Air_ 14%
Un Carb_ 63%
Un Pac _ 76
Unit Aire _ 42Vi
Unit Corp _ 1%
Unit Drug_ 4
Unit Fruit _ 64%
Unit Gas Tmp_ 10%
US Ind Alco_ 15%
US Rub _ 17%
US Smelt and Ref_ 44
US Steel_ 46%
Vanadium _ 3014
Warner Pie_ 2%
Western Union _ 15%
West Elec and Mfg __- 86
Wilson _ 4
Woolworth _ 30%
Yell T and C _ 11%
Youngs S and T_ 30%
Total sales. 373.445.
CURB
Asso G ami El A _ %
Can Marconi _ 9-16
Cities Service _ 4%
El P>nnd and Ph_ 4%
i^oews-- --
Price Fixing Charged
By Trade Commission
WASHINGTON, June 1—W—'The
trade commission said today that it
had issued a complaint accusing an
association, 11 individuals and 31
corporations of conspiring to fix
prices of chemicals, fertilizer, in
secticides and fungicides.
Principal respondents named were i
the Agricultural Insecticide & Fung
icide association, New York, its of
ficers and directors, 26 member com
panies of the association and five
other corporations.
The commission contended that
the association and the 31 firms
entered into an agreement in 1936 ,
to restrain competition in the sale ,
of their products by maintaining
uniform prices, terms and discounts,
with the association actii , as a .
clearing house for price information. ]
WEEKLY METALS
NEW YORK, June 1.—W—British
orders for 25,000 tons of copper ^
touched off the biggest domestic buy- (
ing wave this week since February.
Britain insisted on prompt ship
ment with the result the market was
swept clean of all metal priced be
low 11 1-2 cents a pound. Local con
sumers rushed in with orders for
more than 10,000 tons to forestall ;
possible shortages for nearby needs.
Anxiety to guard against under
supplies of copper was intensified by |
announcement of U. S. defense plans.
POTATOES 1
BALTIMORE, June 1.—(A>)—Pota- 1
toes—(old)—dull. Unchanged. (New)
—about steady. Truck; S. C. 100 lb
sacks cobblers U. S. Is 2.40-50; Bliss <
Triumphs U. S. 1st 2.35-40. Kill long !
whites. N. C. 100 lb sacks cobblers c
U. S. Is 2.25-50. Rest unchanged. s
COTTONSEED OIL <
NEW ORLEANS, June 1.— (A5) — ; <
Cottonseed oil closed steady. Bleach-' c
able prime summer yellow 5.80n;; ;|
prime crude nominal. Jly 5.48b; Sep ,
5.25b; Oct 5.54b; Dec. 5.65b.
N—nominal; b—bid.
BLEACHABLE c
NEW YORK, June 1—(IP)—Bleach -
able cottonseed oil futures closed 2- >
8 higher. Sales 12 contracts. Jly g
5.98n; Sep 6.02b; Oct 6.04b; Dec 6.12; a
Jan 6.10.
B—bid; n—nominal.
CHARLOTTE SPOT
CHARLOTTE, June 1.—(#“)—sPot j?
cotton 9.95.
SHIPPING NEWS
ARRIVED
Tankers
Gulfprince. 4.070 tons, from Gulf
lorts with cargo of gasoline and
letroleum products for the Gulf Re
ining company. Cape Fear Termi
lal company, agents.
Chilbar from Gulf ports with cargo
if gasoline and petroleum products
:or the Shell Oil company. Cape
fear shipping company, agents.
IN PORT
Steamer
(Ita'ian) Mar Glauco. 2.969 Ions
■leai _ I and ready to sail for Italy
vith cargo of scrap iron. Cape Fear
shipping company, agents.
Barges
Lottie, loaded with lumber and
iwaiting arrival of tug, and Poto
nac, loading, cargo of lumber at J.
ierbert Bate Lumber company.
Yacht
Northwind, 126 tons, from Miami
Jeach. Fla., docked at foot of Prin
ess street.
inyvard bound
Steamers
Marjory, 1,394 tons, from West
ndies, with general cargo. C. D
Jaffitt and company, agents.
(Norwegian) Horda, 2,606 tons,
rom Tocapilia, with nitrade of soda,
’ryde Forwarding company, agents.
West Ekonk, 3,455 tons, from To
■apiiia via Charleston, with nitrate
if soda. Pryde Forwarding com
lany, agents.
Illinoian, 4,117 tons, from Pacific
oast ports via Puerto Rico and
ioutli Atlantic ports, with general
argo. Cape Fear Shipping company,
gents.
Ohioan, 3,776 tons, from Pacific
oast ports, via Puerto Rico and
iouth Atlantic ports, with general
aigo, Cape Fear Shipping company,
gents.
Barges
Herbert, from Baltimore tc load
imber at J. Herbert Bate Lumber '
ompany.
Raleigh, from Philadelphia, via '
°i o k io load cargo crossties, 1
out leastern Shipping Service,'
gents. j
_ i
i
Ntrw RUBBER 1
,bber fnt°RK’ June i —W—Crude I
lies Nn yreS c!ose(i 40-115 higher, c
standard, 190 contracts, f
rKAlllUNAL dUNU
CHANGES LISTED
Rails, Utilities And Foreign
Issues Advance On
Average
NEW YORK. June 1. —UP)— The
bond market had few changes of
more than small fractions today.
Rails, utilities, and foreign dollar
obligations advanced on average,
while the reverse was true of low
yieids and industrials.
The sensitive foreign group, which
has bobbed up and down violently
as the tide of battle has favored
first one and then another of the
European belligerents, underwent no
important change from Fridays
prices. German 7s lost more than
a point and Italian 7s yielded nearly
that much under light offerings. Yo
kohama 6, Belgium 7s and Haiti 6s
were among the better gainers.
Domestic loans changing hands at
advances of fractions to around a
point included Standard Oil N. J.
2 3-4s, at 10i 7-8, Missouri-Kansas
Texas 5s at 10 3-4. Montana Power
3 3-4s at 98, Nickel Plate 4 l-2s at
51 and Illinois Central 4 3-4s at
31 1-2.
Standing still or losing small sums
were A’leghany 5s, Commonwealth
Edison 3 l-2s, Great Northern 4s.
and Pennsylvania General 4 l-2s.
Only 6 of the 32 listed govern
ment bonds appeared on the tape
during the 2-hour session and the
face value of those traded aggre
gated but $15,000. Changes were in
significant.
Total sales, of $1,915,250, par val
ue, were the smallest since last Au
gust 19 and compared with $2,651,
800 last Saturday.
AVERAGES
20 10 10 10
Rails Indus Util For
Net change _ a.3 d.l a.3 a.2
Saturday_ 49.1 99.0 91.1 36.8
Prev. day ___ 48.8 99.1 90.8 36.6
Month ago 58.5 103.4 97.0 46.6
Year ago_ 57.0 99.9 96.2 62.4
1940 high -- 59.9 103.6 97.5 53.5
1940 low _ 48.3 99.0 90.3 36.1
1939 high_ 64.9 102.0 97.5 64.0
1939 low _ 53.4 95.8 90.4 41.7
10 Low Yield Bonds
Saturday-xlOS.4
Prev. day _ 108.7
Month ago _ 113.1
Year ago_ 112-5
1940 high _ 113.2
1940 low _ 108.4
1939 high_ 112.6
1939 low _ 103.6
x-New low.
NEW ORLEANS COTTON
NEW ORLEANS. June 1.—(.Pi
Cotton futures declined here today
under week-end .long liquidation.
Closing prices were steady, 2 to 4
points net lower.
Open High Low Close
July . 9.56 9.57 9.45 9.47B
Oct --- 8.73 8-73 8.62 8.67 off 2
Bee „ 8.59 8.59 8.53 8.57 off 4
Jan 8.53B_ _ 8.47B
Mch .! 8.44N_ _ 8.37B
May -- 8.24 8.24 8.24 8.24B
B-Bid; N-Nominai.
N. 0. SPOT
NEW ORLEANS, June 1,—(J5)—
Spot cotton closed quiet. 6 points
lower. Sales none. Low middling 9.16;
middling 10.15: good middling 10.60.
Receipts none; stock 628,652.
BAPTIST YOUNG
PEOPLE TO HOLD
RALLY IN BURGAW
The ninth annual rally of the
Young People of tfie Wilmington
Baptist association will be held in
Burgaw on Tuesday morning. June
4, at 10:30 o’clock at the Burgaw
Baptist church.
The program follows:
Hymn. “Higher Ground.”
Devotional, “The More Excellent
Way,” Rosa Lee Brown, Seagate.
Welcome. Rae and Mae Blake. I
Burgaw.
Response, Louise McMillan,
Teacheys.
Companions Along the Way.
Mrs. D. H. Boney.
Greetings, Divisional Young Peo
ple’s Leader, Miss Vivian Grant.
Music, Burgaw Young People's
choir.
Learning the Way: Y. W. A.,
Mary Lilly Mintz, Southside; G. A.,
Frances Jordan, Temple; R. A.,
Duncan Futrell, Winter Park; S.,
Sunbeams, Wallace.
Presentation of Speaker. Eloise
Boone. Wallace.
Missionary Message, Miss Mar
jorie Spence, Temuco, Chile.
Hymn—“Praise Him."
Afternoon Session, 1:15
Hymn. “Footprints of Jesus.”
Devotional, Caroline Lockamy,
Jacksonville.
Roll Call.
Special Music, Burgaw Young
People’s choir.
Y. W. A. Camp, Elsie Fussell,
Lillian Peterson, Ethel Ramsey.
XV. .TV. V/UUViavc, v*auavv av. ii.
G. A. Houseparty, Jean Honey
cutt, First Church, Wilmington.
Blazing the Trail. Norma Lee
Sidbury, Barlow’s Chapel.
“I Like to Read about Missions,”
Seagate R. A.
Closing Prayer. 1
DRILLS IN THE SEA
TO GET FRESH WATER
HOUSTON, Tex. (iP)—A water ;
well was drilled five miles out in (
Galveston bay by the Humble Oil :
& Refining company. i
The company wanted the water i
lr steam boilers at an oil test in (
he bay. It’s easier to drill a well (
’or fresh water than to extract t
salt from bay water. 2 ]
- j
HOOD OLD JOE 1
ROANOKE, Va. LR—Joe Stern
s a clothier by profession and a s
lood Samaritan by inclination. By ^
Iropping nickels in parking meters s
ust before the time was up, he a
as saved motorists more than $30 r.
n overtime parking fines. He
saves a card on the meter ex- t
laining what he has done, and r
nly five befriended parkers have f
tiled to repay the nickels. 2 I /
b O C I E
Annual Convention Of Children
Of Confederacy Slated JUnf (,.•
-------
By Mrs. John S. Rowe, publicity i,
chairman, state U. D. C. 1
The fourth annual convention of 1
the Children of the Confederacy, ]
North Carolina division of the U. (
D. C., which will be held at States
ville June 6-7 with the Davis Cen- 1
tennial chapter as hostess, will 1
bring together hundreds of the ^
junior members of the United i
Daughters of the Confederacy,
many state officers and other lead
ers, for a review of the past year’s k
activities. 1
Mrs. A. Y. Kerr, of Yanceyville. ]
third vice-president of the division j
and state director of the C. of C., c
will be the presiding officer.
State C. of C. officers who will c
take part in the convention are
Miss Mary Alice King. Winston- t
Salem, president,; Miss Helen
Price, Dunn. Miss Helen May
Harper, LaGrange, and Miss Patri- 1
cia Helms. Durham, vice-presi- <
dents; Miss Sarah Bell Thompson,
Graham. recording secretary; i
Miss Bettie Hennessee, Salisbury, j
corresponding secretary; Miss (
Elizabeth Newton. Greensboro, r
treasurer; Miss Mary Forney (
Duval, Whiteville, historian; Miss t
Katherine Simpson, Monroe, reg
istrar; Miss Calveen Sherrill, :
Statesville, recorder of crosses; ]
Miss Jane Peete. Warrenton, cus- ■
todian of properties; and Miss !
Margaret Mahaley. Salisbury, c
chaplain. 1
The convention is being sponsor- c
ed by the Statesville chapter of c
of the United Daughters of the Con- ;
federacy of which Mrs. Wade H.
Hendricks is the president. (
Mrs. D. H. Lazenby is leader :
of the Children’s chapter enter- '
taining the convention and Mrs. <
George Hudson is the assistant ,
leader. Officers are Miss Mary 1
Ann Bristol, president: Miss Bet- i
tv Jean Bryant, vice-president: i
Miss Mary Holmes, secretary: and <
Miss Katherine Hudson, treasurer.
Convention headquarters will be J
the Vance hotel where registration 1
will begin at 12 o'clock noon Thurs- i
day, June 6. At 1 o'clock Mrs. 1
Ralph Sherrill will entertain at i
her home, Brookdale, honoring
state officers of the Children of i
the Confederacy, division officers <
onH cmpcts at a luncheon. 1
This will be followed by a theatre
party at 2:30 o’clock for all state
officers visitors and delegates.
Other social events scheduled for
Thursday are a tea from 5 to 6
o'clock at the home of Miss Mary
Ann Bistol; a banquet at 6 o’clock ;
at Vance hotel and a dance, begin- '
ning at 10:30 o’clock for all con
vention guests. 1
The banquet will be presided (
over by Mrs. A. Y. Kerr. Greet
ings will be extended by J. Wesley
Jones, mayor of Statesville: John
W. Wallace, president of the States
ville Chamber of Commerce; Mrs.
Fred Bunch. Jr., regent of the
Statesville Junior D. A. R. chap
ter: and Miss Carolyn Wallace,
president of the Junior chapter of 1
the Statesville American Legion .
auxiliary. ^
Speakers will include Mrs. Kerr, 1
Mrs. L. E. Fisher, of Asheville, i
president of the North Carolina di- 1
vision of the United Daughters of 1
the Confederacy; and Mrs. Glenn i
Long, of Newton, ex-president of '
aUricinn anri a former general 1
the division and a former genera!
officer. Mrs. Lazenby will present
the state C. of C. officers and the
division leaders. Other features oi
the program will include special
musical numbers and the presen
tation of awards.
The convention will get down to
business on Friday morning at 9
o’clock with the president. Miss
Mary Alice King, in charge. Chap
ters will give their reports and the
committees will report on their ac
tivities. Election of officers and
selection of the next convention
city will conclude the business ses
sion.
Pages announced for the con
vention are Mrs. Bonner Knox,
chairman: Misses Betty Jean Bry
ant. Katherine Hudson. Carolyn
Winberry. Eelvn Bunch. Betty
Jean Lazenby. Edith Allison, Betty
Allison. Mary Lazenby, Peggy
Holmes. Mary Helen Holmes, Nan
cy White. Carolyn Bristol, Mary
Grior, and Beth Deaton.
North Carolina Division scholar
ship awards and re-awards for
1940-41 and recommendations f o r
general scholarship awards have
been announced by Mrs. J. E.
Lambeth, of Thomasville. second
rice president and chairman of the
Division Educational comm-ttee as
follows:
Awards—Miss Elizabeth Beall.
Greensboro. Freshman; Miss Jes
sie Evans Brunt. Winston-Salem.
Junior: Miss Sara Myers Crooks,
Goncord. Junior: Miss A 1 in e t a
Pleasant. Roanoke Rapids, Junior;
Hiss Allene Roso. Fayetteville. Ju
nior, all at the Woman’s college of
he University of North Carolina,
Greensboro.
Re-awards—Miss Rachel Long,
3ahama, sophomore. W. C. U. N.
G„ Miss Jean Church. New Bern,
ienior. W. C. U. N. C.; Miss Rach
:1 Willis, Hickory, senior. W. C ,
J. N. C., Miss Mary Dale Pitts,
Jreedmoor. sophomore. E. C. T. C.,
Greenville: Miss Katherine Single
on, Henderson. Brevard college,
irevard; Miss Caroline Stansel,
flaxton, senior. Greensboro col
?ge.
Miss Winiffed Burton. High Point,
enior, High Point college: Miss
'ivian McDowell. Elizabethtown,
enior, Flora Macdonald college,
nd William G. Thorn. Enfield, se- :
ior, .University of North Carolina. <
The committee recommended <
ie following General scholarship
2-awards to the General Board of t
!ducation: Miss Patricia Mauney, c
■sheville, Brenau college, Gaines- c
fe’ Ga : Miss Jane stem,
/aynesviile. Va„ ,nter„ " '
?ge. Bristol: Miss Blar he 1. '
Jerry. Hertford. \y. c r y *
freensboro; Miss m a r ..' X' c-.
Sernard. Chapel Hill, VnhJ^'
forth Carolina: Miss y . '
ackson Cooke, Auland ■ ■»'
f-. N- C; SleP>‘ep. Crowley,
aington. Davidson colle"e- y
Sutherland, Jr. Wiln
diversity of North Cnr„iin. '
)oris Sharpe. Greensboro \v .
r- n- c-: Bill Waftord.'ch '
tacy Wilburn. Wilburn, Uni
f North Carolina.
Mrs. Lambeth was assisted
'assing on the awards bv h..,!! "
mttee. Mrs, J. D. Bivins, 0[ ,!
lemarle, and Mrs. G. \v. j;, '.'
astle, of Lexington.
The educational phase ,,f pD,
rork has grown until there
■bout one thousand general -
avision scholarships now ■„ *
’hese are valued a! $250 000
Carolina Daughters maintainV
een of these scholarships.
In order to secure a scholars
ipplicant must present anther'
iroof of Confederate ancestor'
ervice in the War Between th»
hates: transcript of high ,C'-’"
r college grades; condition
ealth signed by physician ce
.entials from friends as t0
•ent’s ability, character, ambits/-,
nd need.
The Stonewall .Jackson chaj-te:
f Chailotte has established
cholarship at Queen's coiie ,
’alued at $120. for a Charlotte»
md for the last three years t:
tbel A. Shuford chapter, Hick,a?
:as assisted a Catawba conn;'-,
lirl who is attending the Woman i
:ollege of the University of
Carolina, at Greensboro.
On Monday, June 3. North Cam
ina Daughters will pause to p„,
ribute to the memory of Jed;,
on Davis, the only president f
he Confederacy, whose birthd.
mnipprchn; i\rn nr*c r.ts iL.,. .
Vhen the general convents
neets next November in Monts*;,
try, Ala., that body will unveil
nonument to this southern hero. 1
* * *
SUNSET PARK SCHOOL
PRESENTS OPERETTA
The final event of the schw.
■ear of the Sunset Park schi .
vas the operetta in two acts u:
Vednesday evening, at 8 o’clocs
n the school auditorium. The tele
>f the operetta was, "Lazy Towr.
md was under the direction of the
chool faculty.
The cast of characters follows;
Dora Nell Pitts, Miriam Hoke,
sTorma Suyers, Betty Anne High
mith, Bobby Bergh, Ricky Hints.
Sidney Trundle, Jimmie Lowe,
rerry Lewis, Wade Bullard, Re..',
derritt. R. C. Bolton, G. C. Hint',
erry Rivenbark, James Pope,
'Jeilf Montrose. Deilie McDouga:.-..
George Perkins, Marie Benton.
Elizabeth Mason, Geraldine Smffi
■rland, Jean Ingram. Elsie Car
er, Mary Ann Wells, Patricia Ear
iss, Betty Jane Hill. David Car;
Villiam Sidbury, Frank Bruce
Pete Herring, Annie rwn -
liams, Frances Patton. SeL
Simmons, Betty Jean Duff. V, .r:
Hewett, Billie Bloodworth, Dun*
Brown, Patsy Davis. Jane Wo< •
ton. Alice Bryant, Emma
Amelia Davis, Gretta Russ;
by Lee Sparrow, Peggy Cart
Beulah Clark. Connie Newt;
Homer Ellis, Norman Hobbs. Sa:r
Core, Donald Bowden, Sit.i
Swann. Sylvia Watson, . Maiuee.
O'Crowley, Virginia Burriss, 1
Beason, Peggy Beasoti. ( ',
Ganns. Peggy Wyatt, Gen in* ■■
drews, Shirley Phillips. M “
Watkins. Edna Earl Clark. - . ■
Fowler. Aline Philpott. Betty .*-•
Simon. Katherine Finer.
Biddle. Irene Gosnell, ana
Bumbee.
Jack Perkins, Lester 1
Marion Rogers. James
Harold Lewis, Dickie Amirev.^
K. Pridgen, Jack McCarle;
wood Bender. Ernest Cr " .
Quinlivan, Thomas Brinson. W;
Pearl Blake. Ray McMah
King, Jeanette Blake,
Jones. Carolyn Pope, ■"'! ::
Dicksey, James Southerland. • ■
Dyches. George Pattterson.
te Bowden, Jeanette Fay ;
Wiley Brown, Haywood
Ray Rogers, Mildred Kerma,
lories Downing. Lmwood «.
Onzie Fowler, John Wrign
ley Motte, George Zill
lia Hewett. Ed Hnu aim.
Blake, Jerry Outlaw, ti
ter, Buddie Fowler, Ja
Vane. Suzanne Quinlivan, J p
Brinson, Fowler Low. Jc® j
Thompson. Evelyn Russ- ‘ , ygt
Strigh. Hilda Gann Daniei
mon, Thomas MacRae. g.;.
mons. Wesley Horn. Baibara
riss, Billy Mint/.. Sam
rold Brinson and Ja<
GOOD HEALTH STREET
MORELIA. Mexico Wi i .
a legend that says 111 ' te „•
in this city possesses in.- ;
powers of health. It |s v0fiS!
,he circumstance that
Iwellers lived to advanced^
During epidemics {uf j?
rave fled to the stret
nunity.
A Paris legend °f
landing was shatter d ■
•rs who raised the c* ., ....
maque,” sunk in th® eXPect®
'rench Revolution. treasur!
o recover some oi ‘ a ; , r.
f Marie Antoinette^ • ." i
ne gold coin was found.

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