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Stock Market Stumbles At Start Of New Month Many Favorite* Reach Close With Losses» Selling Light markets at a glance Stocks—Easy; dealings re main sluggish. Bonds Mixed; changes nar row. . .. Cotton Firm; broad trade and outside buying. Chicago: Wheat—Unchanged »t eeil tags. . . i. torn — Unchanged at ceil ings. Rye—Unchanged at * cents higher; lair demand. ■xjgs — Active, steady, top f85 ceiling. attle — General market steady. Top S17.15. NEW YORK, March 1—(TP)—'The stock market Friday, got off to a stumbling start on the new month and, while scattered issues con tested the shift with a show of relative strength and dealings were among the slowest of the past eight months, many leaders dipped frac tions to around twcf points. A few good earnings statements were helpful some bidding also was attributed to the belief that the list, as a result of the recent sharpest relapse in more than eight years, had achieved a much-de sired technical correction of the swing to highs since 1931. Selling Light Light selling persisted, however, by those who were said to be skep tical over labor disputes, price controls and corporate profits. The cloudier foreign situation. As em phasized by Secretary of State Byrnes, also was viewed by Wall Streeters as a slightly bearish ele ment. The ticker tape barely moved at intervals after a fairly active opening. Transfers of 820,000 shares compared with 1,170,000 Thursday and were the smallest for a full session since Dec. 20, which, at the 800,000 figure, estab lished a low aggregate since the 760,000 of Aug. 22. Extreme losses were reduced in a number of cases at the close. .. .» Averages vi* The Associated Press 60-stock average was off .2 of a point at 73,8. Only 919 issues appeared, smallest since last Dec. 31. Of these, 373 declined, 354 advanced and 192 were unchanged. Among the' day’s stubborn climb ers was Norfolk & Western, up 7 points on sales of 460 shares; American Distilling, up 3 3-8; In land Steel, up 5 3-8 in response to a 3-for-l stock splitup proposal; Commonwealth Edison, up 1 1-8 in reflection of a favorable earnings compilations; Paramount Pictures, up 1 3-4 and Caterpillar Tractor, up 1 Casualties Santa Fe dropped 2 1-4 and les ser casualties included U. S. Steel, Bethlehem, Chrysler, General Motors, American Telephone, Montgomery Ward, N. Y. Central, Southern Pacific, Northern Paci fic, Anaconda, Kennecott, Gene Electric, American Can and Union Carbide. Murray Corporation con ceded 5-8 when directors failed to act on a dividend. Improved were Shamrock Oil, Glenn Martin, Johns-Manville U. S. Rubber, Great Northern, Inter national Harvester, Deere and North American. Bonds Mixed Bonds were mixed. Cotton fu tures jumped $1.15 to $1.95 a bale on hopes for price ceiling altera tions. At Chicago oats and ry® were unchanged to up 1-4 and 2 cents a bushel, respectively. In the curb Scoville Mfg. eased 1-4 on a reduced dividend. Frac tional plus signs were retained by Equity Corporation, Raytheom ana International Safety Razor B. Turnover here was 380.000 shares versus 510,000 yesterday. STOCK AVERAGES Compiled by the Associate Press March 1 , _ „ Net change — D .2 D. 5 unch D .2 Friday _ 97.9 45.1 51.3 73.8 Previous day 98.1 45.6 51.3 74.3 Week ago .--101.0 46.7 52.0 7o.9 Month ago_106.4 50.9 53.9 30.3 Year ago_ 83.5 37.3 41.5 82.0 1945-46 high .106.6 51.0 54.1 80.4 1945-46 low — 78.6 32.9 39.2 57.8 1944 high_ 79.2 34.5 39.2 58.3 1944 low ..-_ 69.1 22.9 35.1 49.5 Stock Market Quotations (BY THE ASSOCIATED PRESS) Previous Yesterday | Close Closa Alleghany .67/» J At Chem and Dye-193 194 AlHs Cnal Mfg. 49 48% American Can- 94 93% American Car Fdy — 60% 60% American Roll Mill — 30% 30% American Smelt and Ref62% 62% A T and T ..190% 188Vi American Tobacco £ .82%% 82% Ana oc on da _46 Vi Vi 45% Arm 111 ..13%% 14 Atlantic Coast Line — 70% 69% Atlantic Refinery _35% 36V-8 Aviation Corporation — 12% 12% Baldwin ..._ 33 32% Baltimore and Ohio — 23% 23% Baimsdall _ 23% 23 Vi Bendix Aviat - 52 51 Vi Beth Steel -.—100 99 Boeing Airp _28% 28% Borden _49% 50% Budd Mfg —. 40 40% Bur Aid Mach.17% 17% Cannon Mills _— 62% Case J I_43 43% Caterpil Trac _67% 68% Ches and Ohio_57ys 56% Chrysler ..122% 121% Coca Cola -185% - Coml Cred _ 50 50 Corn! Solv _20% 20% ri_ in. __i n_j.i. a a VV/iil IfV I ril 6 11U t^VUkU- * i Consol Eriis i_3314 3314 Cons Vuitee _23% 28% Cont Can _41% 40% Com Prod _64% 64 Curt Wright _10 9% Curtis Wright A-31 31 Dow Chem -150 150% Doug Aire _94 94 Du Pont _186 185% Eastman Kod_223% 225 Firestone _ 70 70% Gen El .-.- 47% 47% Gen Foods _ 57 52 Gen Mot_-72% 72 Goodrich _ 72 72 Goodyear __ 61% Gt Nor Ry Pf_— 56% 56% Int Harvest - 80 8914 Int Tel and Tel-- 25% Johns Manu,__142 143 Kennecott -53% 52% Ligg and M B ..90 89% Loews _ 36 * 3514 Lockheed _38% 38% Lorillard_,---26% 25% Mont Ward_81 80 Nash Kelv .— 22 22 Nat Bis ..31% 32% Nat cash Reg _38% 38% Nat Otst .70% 26% N Y Cant... 29% 23% No Am Av.— 14% 14% No Pac --30% 29% Packard --11 11% Param Pic - 66 67% Penney J C - 53 53% renn xv av —-txj 78 1072 Pepsi Cola-.-35% 35% Phillips Pet .51% 50% Pitt S and B „—--12 11% Pullman 1--- 62 62% Pure il.20% 20% Radio -.16% 16% Radio K O __19% 1.9% Rem Rand —_36% 36 Repub Stl -33% 33% Reynolds B —-- 39 39 Sears _—— 41% 49'% Soc Vac ...1574 15% Sou Pac __—_59% 58 Sou Ry_•--— 53% 53% Std Br .. 44 44% Std Oil N J. 66 63% Stewart War_21% 21% Swift —■__ 38 37'% Tex Co__ 54 53% Un Carb .103% 102% Unit Airl_44% 44% Unit Aire .32% 32% Unit Corp_C_ 6 5% Unit Drug 1.2fl% 29 Unit Fruit .111% 1124! Unit Gas Imp _25% 26% U S Indus Chem_ 54 54 U S Rubber __65% 6545 U S Smelt and Ref 72% 7245 U S Steel __82% 81« Vanadium_32% ■ 33 Va Caro Chem .10% 10% Warner Pic .38% S74i West Un A.47% 47 West El .34% 34% iWooiwxuth _•_53% 53% CURB Can Marconi _ 4% 4 Cities Service _28% 29% Colon Dvmt _1 4% 4% El Bond and Share 20% 20% WHAT STOCKS DID NEW YORK, March 1—(A1)—. Fri, Thnr. Advances __354 460 Declines _373 200 Unchanged_192 181 Total Issues _919 941 BOND MARKET HAS SLOWEST SESSION Trading In Rail Lines Ir regular, White Utilities Edge Forward NEW YORK, March 1—The bond market idled through its slow est sessions since Dec. 20, Friday. Rails were irregular while indus trials and utilities edged narrowly forward. Sales totaled only $4,370,000 com pared with $4,800,000 Thursday. On their first sale since Feb. 18, St. Louis-San Francisco 5s of ‘50 dropped 10 1-4 points to close at 64 3-4. Seaboard Air Line consolidated 6s were down 9 3-4 from the pre vious sale, and the certified re funding 4s of the same line dropped 5 1-2. narrow Limits Most changes held to narrow limits. Higher at the close were Third Avenue adjustment 5s, Pitts burgh Consolidation Coal 3 l-2s, Southern Bell Telephone 2 3-4s. American Tobacco 3s of '62. Wis consin Central Superior & Duluth Division 4s, New Haven 4s of ‘57, and Northwestern 4 l-2s and Con sumers Power 2 7-8s. On the offside were Central Rail road of New Jersey 4s, Rock Is land refunding 4s, Detroit Edison 4s, American Telephone 2 3-4s oi ‘75, Katy first 4s and Baltimore & Ohio stamped convertibles. Foreigns Mixed . The foreign list was mixed with Norway 4 l-2s and Pernambuco stamped 7s" showing improvement and Argentine 4 l-2s and Peru first and second 6s declining. Treasury 2 l-2s of '68-‘63 climbed more than 1 1-2 points on the ex change to close at 106 19-32. The government issues were mixed in outside markets with the 2 l-2s of Dec. 72-‘67 down 5-32 ir the widest move. BOND AVERAGES Compiled by The Associated Tress March 1 30 10 10 10 10 Rails Indus Util Ffn L. Yld Net change unch A.l A.l unch unci Friday 103.9 104.8 1 08.1 76.5 119.6 Prev. day 105.9 104.7 108.0 76.5 119.6 Week ago 106.3 104.7 108.4 76.6 119.; Month ago 105.8 104.6 109.1 76.7 118.6 Year ago 99.5 105.4 107.4 71.3 117.6 1945-46 high 106.9 105.5 1 09.5 77.0 119.7 1945-46 • low 96.2 103.4 106.8 68.1 116.3 1944 high 96.5 105.7 107.3 68.8 116.1 1944 low 79.5 104.6 104.7 63.2 114.6 NAVAL STORES SAVANNAH, Ga., March 1—(7P —Turpentine 83 1-2; offerings sale; and receipts none; shipments 12; stocks 2,218. Rosin, offerings and sales 51; receipts and shipments none; stocks J5,560. ^U0-P- Prices unchanged. | NUMBER OF RAILROAD JOBS 1 THOUSANDS. Employment on Clast L Railroads at tha End of Each Year WOUSAND^ t—i—•—■ • *' I I I I—1—I—I—r2000 / 1975 ‘24 '27 '21 '29 '30 '31 '32 *33 "34 -3S '» '37 '3» '39 '40 XI '42 ’43 '44 '45 Soure* of 0«t«: Intertftf* Commerce CommiMion^ ^ %. fi* Cotton NEW YORK COTTON NEW YORK, March 1.—<8P)—Cot ton futures soared to new 22-year peaks on gains of $1.15 to $1.95 cents a bale at the close of heavy trading, Friday. Buying was inspired' by the be lief that price controls might be considerably eased and a growing realization that cotton stocks in the country are being sharply reduced through short crops and demand, particularly in the export field. Mill covering in the near months and outside buying in the new crop positions accounted for a scarcity of offerings. Immediately favorable market factors included the increase in the mid-February cotton parity and an announcement by the Commodity Credit corporation that it is sus pending government cotton sales imtil March 15 and will hereafter offer cotton on an exclusive bid basis rather than at the govern ment stabilization price. Traders felt this would bring up CCC prices to market levels, which are about 2 1-2 cents a pound above the stabilization level. Cotton futures closed $1.15 to $1.95 a bale higher. Open High Low Last Mch 23.65 26.88 26.65 26.94b up 37 May 26.78 27.05 26.78 27.04 up 34 jlv 26 79 27.10 26.79 27.09 up 89 Oct 26.77 26.94 26.77 26.94 up 23 Dec 25.75 26.92 26.75 26.91 up 26 Mch 26.73 26.90 26.73 26.90 up 23 Middling spot 27.64n up 33 n—normal, b-bid (stands Tor night). NEW ORLEANS MIDDLINGS NEW ORLEANS, March l.—UR —The average price of middling 15-16 inch cotton Friday at ten designated southern spot markets was $1.70 a bale higher at 26.90 cents a pound (new season high); average for the past 30 market days 25.68: middling 7-8 inch av erage 25.27, NEW ORLEANS COTTON NEW ORLEANS, March 1.—(£*)— Cotton futures closed very steady $1.10 to $1.55 a bale higher. Open High Low Close Mch . 26.53 26.75 26.49 26.76b up 24 May 26.79 26.99 26.97 26.99b up 28 Jly . 26.84 27.10 26.81 27.10 up 31 Oct . 26.82 26.97 26.82 26.97 up 22 Dec 26.83 26.94 26.80 26.94 up 23 b—bid. nevTorleans spots NEW ORLEANS, March 1.—(tfi —Spot cotton closed steady $1.50 a bale higher here Friday. Sales 875, low middling 21.50, middling 26.75, good middling 27.15, receipts 3,356, stock 189,981. Livestock CHICAGO LIVESTOCK CHICAGO, March 1—(A3)—Cattle prices were mostly steady, Friday, and clearance was generally broad. Small killers and eastern order buyers took the bulk of the 2,000 salable receipts. A moderate supply of fed steers sold for $15.50 to $16.85, with best grades topping at $17.15. A lim ited supply of heifers brought $15 down in a cleanup market. Most beef cows sold for $10.50 to $12.75 and vealers were unchanged at $16.50 down. Heavy sausage bulls reached $1,325 and fat bulls went at $14.25. Almost all grades of the 5,000 salable hogs old early at the $14.85 and $14.10 ceiling prices and the same number went direct to pack ers. The market was active and steady. Slaughter lambs closed steady to 15 cents higher with one load of good and choice natives at $15.80, the highest price of the season. Medium and good wooled skins sold for ■ $14.00 to $14.60. Medium ewes ranged from $8 down. RALEIGH POULTRY RALEIGH, March 1—(A3)—(NC DA)—Poultry and. egg markets steady to firm. Raleigh—U. S. Grade A, large, 36. Broilers, fryers, and roasters 22 to 25. N. C. HOG MARKETS RALEIGH, March 1.—UP)—(NC DA)—Hog markets active and steady with tops of 14.55 at Clinton and Rocky Mount and 14.90 at Richmond. WASHINGTON POULTRY WASHINGTON—U. S. Grade A, large, 40. Broilers and fryers, mostly 25. DAIRY PRODUCTS CHICAGO, March 1.—(A3)—But 1 ter, firm: receipts 346,924; mar. ket unchanged. Eggs, receipts 16,520, steady, market unchanged. SWEET POTATOES CHICAGO, March 1—(A>)--(NC DA)—Sweet potato markets strung er. Louisiana bushel crates P Ricans 3.90 to 4.10. Tennessee bushel hampers Porto Ricans 3^ to 4.00. -f Grain CHICAGO GRAIN CHICAGO, March I.— (B>) - Stronger cotton markets and a continued rallying tendency in May rye at Winnipeg provided sufficient incentive for brokers here Friday to bid the price of the grain substantially higher de spite selling pressure. The trade again whs of an in and-out character. Bulges of around two cents a bushel brought out sufficient profit cashing and stop loss selling to hold fluctua tions within an extreme range of around three cents, all of it on the forward side. High For Day The high for the day, at $2.80 1-8, was within two cents of the season’s peak, scored about three weeks ago. Wheat, corn and barley con tinued at ceilings of $1.80 1-2, $1.18 1-2 and $1.22 1-2. Oats finished un changed to 1-4 cent higher than yesterday’s close, May 81-cent ceiling, and rye unchanged to two cents up, May $2.19 3-8-5-8. Reaches Limit At Winnipeg, May climbed the limit of five cents a bushel twice during the session, but close 2 cents to the good. With advances to 1-8 to 14 cent a bushel, September and Decem ber oats ended the day only 1-2 cent under the ceilings, virtually closing those deliveries out again as speculative contracts. Brokers heard a report that Great Britain had purchased about 1,000,000 bushels of Canadian oats and that 5,000 tons had been sold tn Belgium. OATS SCARCE Meanwhile, oats buyers were re ported to be on a widespread search of the actual grain without obtaining anywhere near the amounts needed to meet their requirements. Futures trading in oats has dropped sharply the past week. One grain firm said less than 750,000 bushels changed hands in the futures pit In one re cent session, compared with daily rye turnovers of 6,000,000 bushels or more. Open High Low Low Close WHEAT: May 1.80% . —.. - —- ^80% Jiv7 1.80% . 1-80% Sep __ -_ __ 1-80% Dec . 1-80% CORN: 1 1Q1Z, sep :::.. OATS: May 81 61 61 81 Jly 81 81 81 81 Sep 80% 80% 80% 80% RYF * May, 2.19 2.20% 2.17% 2.19% Jly ..— . 1.44% Sep _ !•«% Dec - -. BARLEY: May . . .. Jly _ 1.22% Sep _ 1-22% CASH GRAIN CHICAGO, March 1.— (JPl — Wheat; No. 2 red 1.79 nominal; No. 2 hard 1.79 nominal, ceilings. No corn sales. No oats sales. Barley, nominal; malting, 1.24 1.39 1-2; feed, 1.10-1.23 1-4. Field seed per hundredweight, nominal; red clGver, 31.50; sweet clover, 10.75; alsike, 28.50; alfalfa, common, 33.50-36.50; timothy, 5. 75-76-6.00; red top 12.00-12.50. CHICAGO BUTTER CHICAGO, March 1.— (A‘) — CUSDA1—The butter market was firm Friday and unchanged at OPA ceiling prices. Eggs were steady to firm, large No. 1 and No. 2 extras, 35 1-2-37.4; No. 3 and No. 4 extras, 35-36: medium extras, 32-33; Stan dards, 33-34 1-2; current receipts, 33-33.8; dfirties, 39-32 1-2; and checks, 31 1-2-32. Bond Quotations NEW YORK March 1—W At and Sf 4s 9o--—fjgg Canr'?acS4f PcVp'IH-I"I-Ill3V4 Cb and Q.41'^,77 —. Crfp^and SlVcVf? 5s 2013 _100% « y c RXg 5 2013 ..-100% 4%S 65 ——-127% Sal C 6s 45 —-143% Sou Rv Cn 5s 94 - Infill Sou Rv Gen 4s 56.‘"imp West Md 4s 52 —.—110% FOREIGN BONDS Aust Ali, b55-«uT-"""""102% Braz 6%s 2657*'IIII--55,, Bio Gr Do Sul 6s 68 ;—- 40 A K TREASURY BONDS 2%s 68-63 -- 106 3 2%s 69-64 Dec .'"1104 30 2%s 72-67 June.""_105/2 2%s 72-67 Dec. BOOTS AND HER BUDDIES-^ VER\ SlMppg SEt'.THW'S /A, ftVL \T oo SOO f%£\ TfcUt<=>’. tAtftW. Y^l voo «• . Mflh coov^’ot couvor J&fc KWtV3C£T> I___ WK\ TO tv\ys |H7> ) \» ft , tfWA t^ViuTt'. At£l AH, DORIS, - ---1- I MUST WEREN'T MX) THE CONFESS, T GOOD LITTLE BOy LOVE BEING! NOW...FINISHING TREATED AS A ALL THE PUDDING.' MISCHiEVlOUS —LITTLE lad/ r U-' ^_ feel-7 oreat PE A POWER IK FINANCIAL «WIM A6A1IL W OH, BUT YOUVE BEEnT DON'T SEE 1 SO WONDERPUL TO US-WE I WHY NOT— I f 3-2-46 1/ t^OVO ViWCW*. I <=>?WRfc. 'SYR. N>0 Iw^bON)'. ■SttVCVL KS f\YY RY*. , ■so m\v66 m | -syr.co«o! «&?■ [***'• ti WASH TUBBS— __NO TIME TO Tog r STILL HAVEN'T A ’ SHREP O' PROOF ASAINST VALK...N0R AS TO JULKIE'S HIPINS PLACE,.. BUT THERE'S ONLY ONE EXPLANA Sl tion that fits all |L the facts... ^ ie<sftL^m f WAV TO SET PROOF 1 WITHOUT ENPANSERINS AN INNOCENT PERSON! MV ONLV CHANCE IS , tO CATCH JULKIE L BY SURPRISE... ^ GASOLINE ALLEY— ANTIQUESHofl I V von WRONG HER, W EXCEPT FOR THOSE SEAT ^ WE GET NOWHERE BY ARGUMENT, ThAtIm^ BOBBLE SHE HAP ^ CUSHIONS AN' WHATS LEFT . GENTLEMEN. TAKE HER AN' VOiJRE NEW PISTONS BACK IN OF THE FENDERS YOU'D GIVE .HER A GOOD TRYOUT.. IF J ABSOLUTElv GENTLEMEN. NO GLAMOR, '32, NEW RINGS IN '30. 2 HAVE A HARD TIME POINTIN’ SHE ISN'T WORTH $400 SHEff RIGHT, NO GADGETS. BUT ft SPRINGS AN’ wUrarvrMl OUT ANY ORIGINAL PARTS. j ISN'T WORTH A CENT. ^ 'v MR. AVERY, STEADFASTANPRELIA8LE.il NO BRAKES./p > k&V-^ 1 DR. BOBBS— _ * by ELLIOTT and McARDLE | NO-IT CANT BE-I WATCH SHE'S ACTUALLY!—* TOUR SMILING..DID r> TONGUE, SOMEONE YOU [ SMALL J CARE FOR KICK THE BUCKET?J VOU MAY BE TRIFLING WITH [ TEN MILLION BUCKS iNf y 3-2 3msApcIIe. THE GUMPS— THE MILITANT FEMALl I HAVE VOU LOOXEP UP THAT THE NAME ‘SfAELL'VV&IONCORTORATION'^■) MIN !■$-. ‘ FINANCIAL $TAN(?IN<3? HAVE /^MBLL-A - yoU IH&RECTEP THEIR / VISION fz. IVE <5CT A HUNCH ^\A/0, •$//?' I'M THAT AAV PRONUNCIATION \ GOING TO DO WILL PROVE THE CORRECT) SOMETHING ONE-IM NOT<50INO TO/A0GUT IT- <W LET YOU THROWAWAY/ RkSHTNOW!1 TRISHAS FORTUNE/] k "TrVtV LITTLE ORPHAN ANNIE— HERE TODAY, HERE TOMORROW[ | T WE HERE IN SMOKY HOLLOW ^ [ AREN'T MUCH FOR PRYING INTO 1 | OTHER FOLKS'PRIVWT BUSINESS- I [ DON'T USUALLY NEED TO PRY— I I WE KNOW EV'ERYBOCYS-BUSINESS I k HEREABOUTS- — „ HAROLD i GRAY* 1 OUT OUR WAY— By J. R. WILLIAMS OUR BOARDING HOUSE with MAJOR HOOM \ \e°-ro kTwe^hfd T ,7h Bljllo' ‘TH’ Vwell.now he \ JSJe,r*h Hro dcED‘ / WOODS 15 GITTIM’ \ KKJOWS HOW IT i S4dZ < SOME OF HI5 FEELS - HE < fo^TO 8EoS>Dlo-\ hecam^prf" < o^th^ov^L apaphph AK\n / .2^ CAME HERE \ Or- TH BOYt? AM ; ^Trf BASEMEWT A -rBER- A ftSST AM’ ) GIRLS WHO CAME ! TO GAGGLE' RL)SH'M’ / TOTH'SHOPS > TO GARGLE, y ? HIS REST--THEY \ FER. A REST/ f\ ~j " ^I^^EED gQQM^ ^>~y_— SNUFFY SAID HE'D W "SPORT* 2 MY ^ J 5 SEND OVER A WORD, BUT THE NAME^f/ ■ JH a FAMILIAR ci^ I named Ring/-** hm/Surely \ \ -T'S SPC?f'IoT0 SAX)& IF NOT THE same CHEF- J > THIWI , M 'NHO PRESIDED AT THE / 1 O&T3 \ ^ttaoking The Jkl owls Picnic several \ ( topc'1 WA,C FRUIT/ Sr*\ YEARS AGO vOHEM J >5 OFF A / ( MOST OF THE BOYS / I «~*5» ; ( VOERE FELLED BY J \ V^TOMAIME/^ ! JeXT PHf ♦ r ^ _THg rushpita. _ <*i """H'tr.Rwa^As JY w. ^ IhL