The Wilmington morning star. [volume], March 23, 1946, Page 10, Image 10

About The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990

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

                
TIM>_ -----
Notably “Thin” Stocks
Lead Gainers On Market
i -- -—
Some Aviation Issues Back
Away After Early
Spurt
MARKETS AT A GLANCE
NEW YORK, March 22. — <0—
Stocks—Irregular; selected Issues
exhibit strength.
Bonds—Steady; selected rails
Improve.
Cotton—Quiet; New Orleans buy
ing.
CHICAGO:
Wheat—Unchanged at ceilings.
Corn—Unchanged at ceilings.
Rye—1-8 cent higher to 3-8 low
er; mixed influences.
Hogs—Active and steady at ceil
ings. Top S14.85.
Cattle—Steady cleanup trade,
Top $37.25.
NEW YORK, March 22—IP?) —
Several notably “thin” stocks
climbed 1 to 5 points in Friday’s
market although many leaders
were thrown for losses.
Some aviations performed wide
jumps at the start, then backed
away. A few merchandisers,
motors, liquors, and Blue Chip
Industrials ended in front but
steels rails, utilities and coppers
stumbled. Closing trends were
Irregular. Dealings picked up at
intervals. Slowdowns were fre
□uent Transfers of 1,180,000
shares compared with 1,210,000,
Thursday.
Trading Bullish
Numerous doubters regarding
dividends and earnings trimmed '
accounts and stood aside. The
Associated Press interview with
Stalin was received more or less ,
hopefully by Wall street but brok- ■
ers suggested that it inspired lit
tie market response. Actual and .
prospective splitups still were
bullish, as were forecasts of fur
ther price control relaxation oj
elionation in a number of lines
Possible developments at the UNC
Security Council Meeting Mondaj
provided a cautionary argument
The Associated Press 60-stocl
composite was up .1 of a point a
76.3. Of 958 issues appearing
448 rose, 335 fell and 175 were
unchanged.
Some Gainers
American airlines, up 5 in the
morning, in reflection of the 51
for-1 share division proposal,
ended with a net gain of 1-4 at
91. Johns-Manville added 5, Gim
bel Bros., 4 3-4, Schenley Dis
tillers 3 1-8 and Chrysler, up
about 4 at one time, 2 1-2.
Plus signs were retained by
Eastern Air Lines, Pan-American
Airways, American Can, West
inghouse. Goodrich, U. S. Rubber,
Youngstown Sheet, Du Pont, San
ta Fe and Standard Oil (N. J.)
Allied Chemical dropped 3
points. Lesser casualties included
U. S. Steel, Bethlehem, General
Motors, Woolworth, American
Telephone. N. Y. Central, South
ern Pacific, Baltimore & Ohio.
Texas Company', R-K-O, United
Aircraft, Douglas Aircraft, Philip
Morris, Curtiss-Wright “A,” Gen
eral Electric, Western Union
“A,” Electric Power & Light,
Anaconda, Kennecott, and Inter
national Harvester.
Rail Bonds Up
Railway bonds were selectively
better. At Chicago oats were un
changed to up 1-2 of a cent a
jushel and rye up 1-8 to down
:-8. Cotton advanced 15 to 55
rents a bale.
In the curb National Rubber
Machinery tacked on 3 1-2. Mod
:st gainers were Breeze Cor
Doration, United Gas, American
light and American Cyanarr: id.
rurnover b®~® was 520.000 shares
,-ersus 600.000, Thursday.
?4ock Market Quotations
(BY THE ASSOCIATED PRESS)
Yes'day
Close
AT y --.
A1 C n and Dye-197
Allis Chal Mfg. 52
American Can -. 95 1-2
American Car Fdy-62
American Roll Mill-31 3-8
American Smelt and Ref-66 1-4
A T and T.-189 1-2
American Tobacco B-90 S-4
Anaconda -46
Arm 111 --
Atlantic Coast Line.69
Atlantic Refinery -.— 39 1-8
Aviation Corporation .- 12 1-8
Baldwin--...
Baltimore and Ohio- 23 5-8
Barnsdall - 28 l*2
Bendix Aviat -51
Beth Stl .1°2 3-4
Boeing Airp -33 1-4
Borden - 53 1-8
Budd Mfg . 22 3-8
Burl Mills-42
Bur Add Mach -18 1-4
Cannon Mills ---
Case J I-42 1-2
Caterpil Trac - 72 1-2
Ches and Ohio - 56 3-4
Chrysler-- 127 1-4
Coca Cola -198
Coml Cred -53 1-2
Coml Solv -20
Comwlth and South- 4 1-2
Consol Edis -34 1-2
Cons Vultee-28
Cont Can - 43 5-8
Corn Prod -65 1-8
Curt Wright -. 8 1-8
Curt Wright A.——- 24
Dow Chem -—
Doug Aire-195 1-4
Du Pont . 196 1-2
__ xfr-n 243
Firestone -77
Gen El -----..4? I’4
Gen Foods -50 3-4
Gen Mot ...71 1-2
Goodrich ---®1 1*2
Goodyear -®®
Gt Nor Ry Pf -58
Int Harvest ..— 7-8
Int Tel and Tel -.- 24 1-8
Johns Manv ..-153
Kennecott -.-.- 54 l-»
Ligg and M B -. 95 1
Loews -36 1-2
Lockheed . 4®
Lorillard ---29 1 4
Mont Ward --3® l 8
Nash Kelv --" 7-8
Nat Bis —----33
Nat Cash Reg -38 1 4
Nat Dist -..7® 1-4
N Y Cent —.— 27 l*t
pS Av. :::::::::: :: :: 28 iJ
Parana Pic -—. 73 3-f
Penny J C .... ®4 -<
Pepsi Cola .-. 34 5
Phillios Pet..58 7
Pitt S and B —.11 \
Pure Oil..— “ «
Radio -----.- 15 '
Radio K O -.20 1-1
Rem Rand .36
Repub Sti .— 33 W
Reynolds B .42
Sears -.3
Soc Vac .i®
Sou Pac .-—5®
Sou Ry 4R 1_;
Stewart War --
Swift - .S7 1
TeX 5V.—109 1
Un Carb —- 4g -j
Unit Airl .S2
.Unit Aire . 5 7.
‘Unit Corp -.-.32 5.
Unit Drug -—. 121 t.
Unit - Fruit - 27 3.
Unit Gas Imp.." 50 7.
U S Indus Chem.-.gg
U S Rubber --" 68 3
■ U S Smelt and R«. gs x.
U S Steel -. 32 1.
Vanadium - 10
Va Caro Chem .- 3g 5
Warner Pic . 39
W>st Un A -.
jd
West El . <30 1-0
Woolworth.. 56 1-4
CURB
Can Marconi_ 3 5-8
Cities Service - 31 5-8
Colon Dvmt -- 4 7-8
El Bond and Share-21 3-4
RAIL BONDS HOLD
BUYER INTEREST
Selective Buying Lifts Mar
ket Out Of Morning
Rut; Volume Expands
NEW YORK, March 22—(JF)—De
mand for rail liens buoyed the
bond market, Friday.
Selective buying lifted the mar
ket out of a morning trading rut
and volume expanded to $4,670,000
from $4,204,000 Thursday.
Gains ranged to an extreme of
more than two points but enough
opposition developed during the
session to leave a number of issues
as much as a point lower.
News Aids Trading
Interest in rails, which ha* domi
nated bond trading for a consider
able period, was sustained by dis
cussion of the precedent-breaking
through coast-to-coast service soon
to be inaugurated and plans for
expanding some of the country s
largest systems into still larger
rail nets.
Highlighting dealings lively trade
in Missouri Pacific general 4s, up
2 1-8 at 58 3-4.
Rails Active
Other favorites included Balti
more & Ohio stamped convertibles
at 84, International Great North
ern adjustment 6s at 50 1-2, South
ern Railway general 4s at 108 1-4,
Wisconsin Central 4s of ’36 at 52,
St. Paul convertible 4 l-2s at 95
and Erie 3 l-8s of 2000 at 104 3-4.
On the minus side were Lehigh
Valley stamped 4s at 551-2, New
Haven 4s of ‘55 at 70 5-8 and Frisco
4 l-2s at 47 3-4.
Foreign List Slips
In the foreign dollar list Aus
tralian loans slipped a bit while
Latin-American issues continued to
attract support at slightly higher
levels.
Long-range U. S. governments
tended a bit lowet as intermediate
maturities firmed in over-the
counter trade. Dealings in the
stocks market were at a stand
still.
CHICAGO POTATOES
CHICAGO, March 22—(A1)—(US
DA)—Potatoes: Arrivals 87, on
track 169, total U. S. shipments
1,254.
Old' stocks: Supplies moderate:
For western stocks demand fair
market steady for best quality
for northern stocks demand slow
■ market weak.
New stocks: Supplies light: de
mand moderate; market slightl;
stronger; Idaho russet Burbank;
! U. S. No. 1 $3.50-2.75; Coloradi
red McClures U. S. No. 1 $3.40
Nebraska and Wyoming bliss tri
umphs U. S. No. 1 $3.50; Min
’ I nesota-North Dakota cobblers com
Jlmercial $1.85; bliss triumphs gen
! erally good quality $1.65; Chip
pewas U. S. No^ 1 $2.60; Florid;
3 50-lb sacks bliss triumphs U. S
3 No. 1 $2.50-2.65.
1 SWEET POTATOES
3 CHICAGO, M;*rch 22—(A3)—(N<
DA)—Sweet potato market dull
3 Bushel crates Louisiana Port
j Ricans 3.85 to 4.00. Fair conditio:
4 3.50 to 3.79. Ordinary conditio:
3.00 to 3.25. Bushel hampers Ter
3 nessee Nancy Halls, few 4.00 bush
el crates Porto Ricans 3.75 to 4.0C
[ Who Got the Money?
Income of the People Was Split as Reported by ***** i
H United States Department of Commerce) j
Cotton
NEW YORK COTTON
NEW YORK, March 22— (£>) —
Mill buying against textile ac
counted for gains of 15 to 55 cents
a bale in cotton futures Friday.
New Orleans and locals were
on both sides of the market with
considerable switching from near
to later months in evidence. Trad
ing was slow pending developments
on margin requirements and price
control legislation.
Some quarters attributed the
delay in making the promised gov
ernment order raising margins to
uncertainty over the legality of
such a step.
The Commodity Credit corp., re
ported jo the New York Cotton
Exchange service bureau that it
has sold 33,550 bales of its hold
ings to the trade since the new
system of daily bidding was in
stituted March 16.
Futures closed 15 to 55 cents
a bale higher.
NEW ORLEANS MIDDLING
NEW ORLEANS. March 22—(£>)
—The average price of middling
15-16 inch cotton at ten designated
southern spot markets Friday was
25 cents a bale higher at 26.80
cents a pound. Average for the
past 30 market days was 26.45
cents a pound. Middling 7-8 inch
average was 25.12 cents.
NEW ORLEANS SPOTS
HEW ORLEANS, March 22—(A5)
— Spot cotton closed steady 25
cents a bale higher. Sales 531. Low
middling 21.40; middling 26.65;
good middling 27.05. Receints 1,191.
Stock 216,946.
CHARLOTTE SPOTS
CHARLOTTE, N. C„ March 22,
—(A>)—Spot cotton 27.05.
Livestock
CHICAGO LIVESTOCK
CHICAGO, March 22—(JP)— All
killing classes of rattle closed off
the week's major marketing, Fri
day at substantial reductions in
price levels for a run of generally
sub-top quality.
Fed steers which had touched
the ceiling of $18.00 with just one
load this week finished down at
the top to $17.25, the outside for
good and choice steers and yearl
ings in loads and lots which
bracketed from $10.25 to $17.25.
Heifers likewise lost their appeal,
a few hefty young heifers reach
ing $14.25. Mixed good steers and
heifers were at $16.25. Beef cows,
mostly common to medium, were
$10.25 to $12.50, and beef bulls
sold off 75 cents from Thursday
at $14.25 and down. Vealers were
$16.00, a full dollar under last
week’s top.
Though hog receipts of 15,500
head were the highest this month,
they cleared early at ceilings,
with 8,500 headed direct to pack
ers and 7,000 salable.
Slaughter lambs held steady to
25 cents higher, with good and
choice fed wooled westerns scal
ing for $15.75 to $16.10 and wool
skins bringing $15.25 for two loads
of mostly good kinds. Odd heads
of good to choice wooled native
slaughter ewes settled for an even
$8.00.
RICHMOND LIVESTOCK
—(USDA)—Hogs—Market at ceil
RICHMOND, Va., March 22—f/P)
ing 14.90 (flat) on good and choice
barrows and gilts 120-330 lbs up:
100-120 lbs. 13.40: good sows under
350 lbs. 14.15; 350-500 lbs. 13.40:
weights aver 500 lbs. 12.90; good
stags, 12.40.
Cattle—Good and choice steers
16.00- 17.00; medium 11.00-13.00:
common 8.00-10.00; good beef type
cows 10.00-11.00; good dairy type
9.00- 10.00; medium 7.00-9.00; com
mon 5.00-6.00; shelly kinds lower;
good beef type heifers 12.00-13.50;
medium 8.00-9.00; common 6.00
7.00; good butcher bulls 10.00-11.00;
medium 8.00-9..50; light common
kinds 6.50-7.50; choice calves 17.00;
good 14.00-14.50; medium 11.00
12.00; common 8.00-10.00.
FOREIGN EXCHANGE
NEW YORK, March 22—(/P) —
Closing foreign exchange rates fol
low (Great Britain in dollars, oth
ers in cents;)
Canadian dollar in New York
, open market 9 1-8 per cent discount
! or 90.87 1-2 U. S. cents unchanged.
Europe: Great Britain $4.03 1-2.
, unchanged; France (Franc) .845,
. up .0025 of p cent.
Latin-America: Argentina free
. 24.52, up .07 of a cent; Brazil free
. 5.25; Mexico 20.65.
i
CHICAGO BUTTER
CHICAGO. March 22—(/P)—(US
DA)—The butter market was
firm and unchanged at OPA ceil
i ing prices today.
Eggs were steady; prices un
> changed.
i _
' WASHINGTON POULTRY
- WASHINGTON—U. S. Grade A.
- large, average 39; broilers and fry
. ers 31 1-2. few 32.
Grain
CHICAGO GRAIN
CHICAGO, March 22—(JP) —
Trading in grain futures was on
a strictly soft-touch and slow-go
basis Friday with participation
limited almost entirely to locals
who dealt mostly in small lots.
Fluctuations again were nar
row. Some brokers said there
was little or no incentive to do
business except of an in-and-out
character. They heard rumors
that the expected government or
der restricting usage of feed
grains now' has been sidetracked
entirely. For several days there
was talk that the widely-heralded
order which the Department oi
Agriculture is understood to have
had under consideration for sev
eral weeks had been revised to
exclude corn and oats.
Originally, the order was ex
pected to limit usage of feed
grains by processors to 85 per
cent of 1945 consumption. Wheat
and corn continued at ceilings of
$1,83 1-2 and $1,211-2, oats fin
ished unchanged to 1-2 cent high
er than yesterday's close, May
83-cent ceiling: rye 1-8 up to 3-8
down, May $2.19 1-8-3-8; barley
unchanged. May $1.26 1-2 ceiling.
I After showing some indications
of general support at the opening,
both oats and May rye eased off
when the flurry of local demand
passed. Oats neld barely steady
most of the time, and recovered
the earlier gains within the final
few minutes of the session.
Lower prices at Winnipeg in
fluenced some scattered liquida
tion here. With losses of fractions
of a cent, a small nest of stop
loss selling orders was shooed
out and the setback was extended
to about a cent at the extreme.
There was one report that coun
ty agents might become enforce
ment officers for OPA in a plan to
combat black market operations
in corn. The system, as de
scribed here, would require sell
ers of the grain to take certifi
cates from the buyers.
One grain firm said the system
would have little effect this year
because “the bulk of last year’s
crop already has left producers’
hands.”
CASH GRAIN
CHICAGO, March 22—UP)—'Wheal;
No. 2 red and No. 2 hard, 1.82 j
nominal, ceiling. No sales.
Corn: Sample grade yellow 1.19
nominal. No sales.
No oats.
Barley: Malting, 1.25-1.43 1-2
nal.
Field seed (hundredweight,)
nominal: Red clover 31.50; sweet
clover 10.75: alsike 28.50; alfalfa
common 33.50-36.50; Timothy 5.75
6.00; red top 12.00-12.50.
GRAIN FUTURES
CHICAGO. March 22—(A3)—Grain
futures trading was virtually at a
standstill again today, except for
May rye which floundered around
most of the time at weak prices in
sympathy with \yinnipeg.
Wheat and corn finished again at
ceilings of $1.83 1-2 and $1.21 1-2;
oats unchanged to 1-2-cent higher
than yesterday’s close, May 83
cent ceiling; rye 1-8 up to 3-8 down,
May $2.19 1-8-3-8; barley un
changed, May $1.26 1-2.
DRY GOODS
NEW YORK, March 22—(A>) —
Scattered lots of print cloths and
sheetings were sold in the cotton
textile market, Friday, for quick
delivery. Issuance of the second
quarter order for set-aside pro
gram were still awaited.
There were further offerings for
fall lines in woolen and worsted
goods.
' Rayon goods were dull.
N. C. HOG MARKETS
RALEIGH, March 22—(A?)—(NC
DA)—Hog markets active and
steady with tops of 14.55 at Clin
ton and Rocky Mount and 14.90
at Richmond.
DAIRY PRODUCTS
CHICAGO, March 22—(A>)—But
ter, firm; receipts 184,231; market
unchanged.
Eggs, steady; receipts 34,727;
market unchanged.
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iHwei >iii JUii i7i* j
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KID STUFF/ HAH.' W" CER.TIN 'W' I CAN’T !
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