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MARKET REPORT Regains Equilibrium Is All That Can Be Said NEW YORK, Aug. 16—W—Heat and humidity crippled activity m the bond market this week. Prices moved lazily and on the average showed little variation from the preceding Friday. A gauge of investor enthusiasm was seen in Wednesday’s market, in which only $2,290,000 face val ue in bonds changed hands. This was the smallest turnover since $2,190,000 June 9, which in turn was a low since August, 1940. Total volume for the week amounted to only $14,216,000, com pared with $14,593,600 in the pre ceding week and $17,439,000 a year ago. The Associated Press averages of representative bonds indicated that all groups, except utilities which 3 a trifle higher, were unch' from the end of the previc , week. New financing activity was as glim as trading volume although investment dealers were encour aged by the favorable reception given most issues offered for sale. Two comparativly small issues of utility preferred stocks met with unexpectedly good contract from the public, in sharp contrast with the apathy which greeted such issues earlier in the year. “This suggests,” said the in vestment dealers’ Digest, a trade publication, “that, despite experi ence with new preferreds sine last spring perhaps investors are glad to take them after all—at a good price.” Wall street looked forward to expanded activity in new financ ing in a matter of weeks, not only by corporations seeking money but also by local governments. Triborough Bridge & Tunnel au thority. for instance, disclosed plans to market between $100,000. 000 and $115,000,000 of new tax exempt honds, which would rival the largest issue of this type ever marketed. And American Telephone & Tel egraph Co. announced plans to raise additional funds for its ex tensive expansion through sale of stock to employes on an instal ment plan. The company register ed with the Securities & Excha lge commission 2,800,000 shares of $100 par common which will be offered to telephone company workers at a price below the mar ket. The stock closed on the ex change Friday at 156 3-8. Indications of a sharp diversity in judgment over present condi tions for marketing new securities were seen in requests to th SEC to withdraw rgistration for American Broadcasting Co. com mon stock and cancelation for competitive sale of common stoex of Public Service Co. of New Hampshire. American Broadcast ing said “market conditions at the present time and for the fore seeable future make it inadvis able” to market stock. grain range Open Hi&h Low Close Wheat— .. I Sen 2 39% 2.40%' 2.38 2.38% Dec 2.37% 2.38% 2.36 2.36% May 2.33% 2.34 2.31% 2.32% jly 2.14 2.14 2.12 2.12% Sep0™ 2.38 2.39% 2.32 2.33% Dec 2.21 2.21 2.13% 2.16% May 2.15% 2.15% -2.08% 2.10% Oats— Sep 1.06% 1.06% 1.03% 1.04% Dec 1.04% 1.04% 1.01% 1.02% May 98 98% 95% 98% Soybeans— Nov 2.92 2.82 2.81 2.81 Lard— Sep __17.12 Oct 17.30 17.30 17.30 17.30 Nov 17.50 17.50 17.50 17.50 Dec 19.15 19.15 19.10 19.10 TOBACCO EARNINGS i NEW YOIK, Aug. 16 — (A1)— American Tobacco company, to day estimated earnings in the sec ond quarter at $8,282,000, equal to $1.39 a common share, compared with $7,640,000, or $1.53 a share, in the 1946 quarter. Paint odors are banished forever, HEW! THIXOTROPIC with Valdura's "No Odor" Wash BODY able Oil Wall Paint. The odor is The "thixotropic" actually removed — not just con-4 body of Valdura "No cealed. Odor" Wall Paint pre- Beautiful, rich, permanent colors vents settling in can are available in flat, eggshell, andj sagging, running or pleasant tQ use _ ^esS ?EZ?*3g. -mights — J-WJ vides a stain, dirt and - »»d is one of the easiest and fast-, wear resistant wall est paints to apply, finish that can be re-* . peatedly washed. ^ L D U R A n“No Odor” W A SHABLE on request. , 0 I L WALL PAINTS Mill & Contractors Supply Co DEMING PUMPS 121 North Water St. Phone 7757 15 YEARS WITHOUT A DROWNING . CAROLINA BEACH LIFE SAVING SQUAD— Members of the life saving: corps at Carolina Beach have set a record unique on the Atlantic coast in not having had a drovyning in the patrolled area of th„ strand since the squad first was organized back in 1932 by Ken Wooten Wilmington post office employe. The 12 members of the present squad, headed by Bill McDonald, chief guard, and four others including two girls, have jusi been graduated in an instructors class in life saving and water safety sponsored by the American Bed Cross. Six of the 16 leave today for Brevard to attend the 10^ny na tional aquatic school to be held by the National Bed Cross. Pictured you see Lucy Horne in white and Betsy Baper in black. In tiie center left is Wallace B urke and center right is Tom Spittle. Top row, left to right, shows Columbus Efird, McDonald and Jack Hammond. The girls are not guards but passed the course with flying: colors. Others who took the course and are not shown are Bob Strickland, Giles Westbrook, John Boyter, Wilbur Shearin, Henry Carr, Tom Efird, Les Salmon, Bichard Mclver, and Doyle Bedsole. ____ CHICAGO LIVESTOCK ..CHICAGO Aug. 16—(TP)—(USDA) —Salable hogs 300 (estimated); total 2,300 (estimated); compared week ago'; butchers under 280 lbs uneven, 23-75 lower, heavier butch ers steady; sows steady to 25 higher. Salable cattle 500 (estimated); total not given; compared week ago. Average — good and choice fed steers and yearlings fully 50 high er; common and medium grades 25-50 lower, most good grades closing strong to higher than late last week, sharp advances on cattle grading good and better de veloping early in week; closing trade slow except on high-choice steers and yearlings' all weights; heiefr trade followed steers but very sluggish markets finally de veloped on medium to good heifers scaling under 800 lbs; extreme top steers 34.25; new high on crop, and 75 higher than previous week; best long yearlings 34.00; light yearling steers 33.00; weighty heifers stopped at 30.00 but strictly choice kinds absent; average-good and choice weightly steers closed at 27.50-34.00; comparable yearl ings 2.00-32.00 and similar grades of heifers 25.00-29.50; common and medium grass steers 17.00-22.00 mostly; cows fully 50 higher for week, instances 75; bulls 40-75 higher; vealers steady but heavy slaughter calves 50 to 1.00 lowei at 19.00 down, against 24.00 choice vealers; good beef cows closed at 18.-20.00. __ UNLISTED SECURITIES The following bid and asked prices are obtained from the National Associa tion of Securities Dealers. Inc. and oth er sources but are unofficial. They do not represent actual transactions, they are intended ss a guide to 1he approxi mate range within which these securi ties could have been sold (indicated by the “bid”) or bought indicated by the “asked”i at the time of compilation, Aug. 14: Description Bifi Ask Acme Alum Alloys - 5 5 3-4 Acme Alum A1 Pfd-14 1-2 16 1-2 Alabama Gt South Rail _ 85 88 Alabama Mills - 14 1-2 15 1-4 Am Air Filter -13 3-4 14 1-2 Am Brkeries Co - 31 1-2 33 1-2 Am Enka Corp _ 77 80 Am La France Foam Corp 0 9 3-4 Am Trust Company-680 - Am Yarn & Proc Co 12 12 3-4 Am Yarn & Proc Co 4cfr 90 93 Anderson Prichaard Oil 4 1-4 Pfd _ - 54 1-2 55 1-2 Atlantic Coast Line Co. (Conn) __ 55 1-2 59 1-4 Bassett Furniture Indus _ 28 1-2 31 Bausch & Lomb Optical 17 1-4 18 3-4 Bird & Son. Inc - 17 i-2 13 1-2 Blue Bell. Inc _13 1-2 14 1-2 Buda Company - -- 1C t7 1-4 Buffalo Bolt Co_12 1-2 13 1-2 Butler’s, Inc- - 7 1-2 8 1-4 Butler’s, Inc. 4 1-2 Pfd __ 21 1-2 22 1-2 Bank of Manhattan Co, .. ,, oi 1 o off Carolina Insurance Co -r 28 30 Carolina Mount Tel Co 2 5-8 2 7-8 Carolina Pwr & Lt Co — 35 3-4 36 1-4 Carolina Pwr & Lt Co $5 Pfd _117 1-4 119 Chadboirn Hos Mills, Inc. 7 3-4 8 1-2 Chad Hos Mills, Inc 4 1-2 Pfd __37 39 Chase Nat'l Bk of N Y _ 35 1-2 2G 1-4 Clev Cliffs $5 Pfd Old.... 92 95 Coble Dairy Prodt $5 Pfd 49 1-2 51 1-2 Colonial Stores, nc. - 24 3-4 25 1-2 Colonial Stores, Inc. 4cfc Pfd _-_ 49 1-2 50 1-2 Dan River Mills-15 5-8 16 Dan River Mills 4 1-2 Pfdl06 107 Dixie Home Stores - 22 22 1-2 Drexel Furn Co-15 1-4 16 Dwight Manufacturing Co 34 34 1-2 Edison, Thomas A. “B’ — 16 3-4 18 1-4 Empire Dist Elec Co - 14 1-4 15 1-2 Erwin Cotton Mills - 15 1-2 16 l-~ Erwin Cot Mills 6c/r Pfd 110 Foremost Dairies, Inc — 15 16 Foremost Dairies, Inc. 6cj0 Pfd _— 51 - Funstein R E- 5 „ , Gamble Brothers —--— £ 1-J J 3-4 Garfinckel, Julius & Co, _ 18 3-4 20 1-2 Garfinckel, Julius & Co-, Inc., 4 1-2 Pfd- 23 24 S-4 Garlock Packing Co-22 24 . Georgia Hardwood -14 1-4 la 1-4 Giddings & Lewis Mach T1 113-4 13 Gleaner Harv Corp-21 22 1-2 Gordon Foods, Inc - 1 < 3-4 Grinncll Corp 27 “9 3 1 Hanes, R. H. Knit Co 9 (Par $5) -19 29 1'“ Houston Of l Field Mat — £ 9 International Detrola £ 1-2 » nternational Textbook Co 12 13 Irving Trust Co, N Y-15 3-8 16 Jefferson Standard Life Insurance Co-- 28 « Kendall Co-xd 31 o2 1 2 Kingsport Press -19 l'2 11 Life & Casualty Ins Co. of Term ‘-« , . McBee Co ---—— 1 1-4 1 May-McEwen-Kaiser Co - 12 13 1-2 Monumental Life Ins Co - , , Moore Handley Hdw _xd 9 1-4 9 S-4 Mooresville Mills —--— 10 10 1-2 Morganton Furniture Co - 15 16 National Cont Corp 4 4 3-4% Pfd --1-4 -- New Britain Mach Co — 30 32 N C Railroad Co-- ^ Norwestern Nat’l Life-Ins 19 Nat’l City Bk of_N Y- 40 3-4 41 1-2 Occidental Life Ins Co — J Ohio Water Service Co. 18 1-2 70 O’Sullivan Rub Co —--- 4 4 O’Sullivan Rub Co. $zo „ _ Peninsular Tel Co 1-4 47 1-2 Peoples Sav Bk & Tr Co 80 - Piedmont & Northern Rail 59 — Pilot Full Fash Mills-10 1-4 11 Red Rock Bot, Inc - 9 3-4 10 1-2 R cgel Textile Corp-33 3o Rigel Textile Corp $4 Pfd 93 96 Robertson H H_- 39 41 1-4 Rose's r C-... ' Stores-49 —— Rulr • Gas Co - 4 4 1 - Rular-e Gas Co 5 1-2 Pfd 50 52 3rcu-Loweli Shops -41 1-2 43 San Carlos Milling - 8 1-4 8 3-4 S-ott & Williams- 23 24 Seaboard Fin Pfd (With Warrant) -87 39 Security Life & Tr Co — 63 - Sec Nat’l Bank-28 - Solar Aircraft Pfd-14 1-4 15 1-2 Sonoco Prod Co-30 1-4 - South Webbing Mills- 9 10 Standard Forgings -10 1-8 11 Standard Stoker -xd 21 23 Stevens, J P & Co_ 32 1-2 33 3-4 Stonecutter Mills —i- 6 3-4 7 3-4 Stromberg Carlson 4 c/„ Fid _ 40 1-2 42 3-4 Talon, Inc. -39 1-2 41 1-2 Textiles, Inc -15 1-2 16 Textiles,s Inc 4Pfd _ 24 1-2 --- Thiokol Corp - 1 3-4 2 1-2 Tidewater Pwr Co - 8 9 Towmotor Corp-15 1-2 17 Twin-Coach $1.50 Pfd_ 27 28 3-4 United Transit - 5' 5 1-2 Victor Prod Corp-10 10 1-2 Virginia El’O — Pwr Co 16 1R 3-4 Wachovia Bk & Tr Co _61 62 Warner & Swasey Co __ n 2-4 10 3-4 West Point Manu Co _2D 3-4 30 1-2 Wilmington Sav tz Tr Co 43 - Pial 2-3311 For Newspaper Service CORN PROFITS ON INCREASE But Retreat Into Losses At Board Of Trade CHICAGO, Aug. 16— (&) —An early upturn in corn ran into in creased profit-taking on the Board of Trade today and prices retreat ed to close the day with losses. Corn set the pace for the rest of the market, as it has in all sessions for recent weeks, al though wheat showed resistance to the late selling and finished with prices practically unchanged. At one time July wheat and De cember oats reached new season al high. Wheat closed unchanged to 1-4 lower, September $2.38 1-2, corn was 2 3-4 to 4 cents lower, Sep tember $2.33 1-4—2.33, and oats were 1 to 1 3-8 lower, September $1.04 1-2-34. uie tdiir auvduue in c-jin, which carried prices close to rec ord peaks, was based upon a weather bureau forecast of clear skies in Iowa. However, alate forecast predicted scattered show ers and private reports said light moisture was received today. Offerings of corn by the coun try were fairly liberal for a Sat urday, purchaes on a to-arrive basis totaling 100,000 bushels. In the spot market prices were steady to 3 cents lower. Wheat was aided by a some what more aggressive Commodity Credit corporation buying policy and Washington reports that ex ports will be heavy this autumn, possibly exceeding allocations, as the shipping situation has improv ed and small stockpiles of grain may be built up in foreign coun tries. Tire CCC raised its wheat buy ing price 3 cents after the close yesterday, offering $2.29 at Kan sas city and $2.40 1-4 a bushel at Chicago. Oats move up or down in sym pathy with com, following the yel low cereal closely. Many traders feel that higher prices for corn will increase the use of dats as a feed. The lard market was ex tremely dull with active deliveries closing 2 cents lower to 3 cents a hundred pounds higher. i t Roaches! Roaches! Kill Your Roaches With SHEPARD’S GUARANTEED ROACH KILLER MANUFACTURED BY JOS. C. SHEPARD Wilmington, N. C. t On Sale at These Stores: Saunders Drug Store Futrelle’s Drug1 Store Lane Drug Stores Jarman Drug Store Padgett Drug Store j H. L. Herring Grocery Store Carl Marshbum Paul Marshburn T. W. Wood* and Son Mayhan’s George’s Grocery Store W. D. Mills L. L. Mills Open Air Market Batson Gro. Store, Sunset Park Ketchan Drug Store, Jacksonville Bunch Drug Store, Carolina Beach Seashore Drug Store, Carolina Beach Lewis Gro. Store, Kure Beach. Bame Grocery, Carolina Beach Finley Carr, Wallace Warsaw Drug Store, Warsaw Joe Brown Grocery Guarantee Food Store, Southport Berkenhagen Grocery, Winter Park A. A. Hobbs Jot-Em-Down Store, Le!and Wilbur f.outherland, near Monkey H | Junction | We are making loans daily for the purpose of financing the cost of repairing and . modernizing homes and com mercial and industrial properties. Neither collateral securi ty nor endorsement is required.. No expense other than the moderate interest charge. Here is an opportunity to make your home more modern, more livable and more valuable. Prompt Service No Red Tape No Investigation Fee ---- YOU BORROW 100 150 200 300 500 1000 12 Monthly Payments 8.78 13.16 17.55 26.32 43.86 87.72 24' Monthly Paym ents 4.59 6.89 9.18 13.77 22.95 45.88 36 Monthly Payments 3.20 4.80 6.37 9.59 15.97 31.94 3he fiank of Wilmington MEMBER FEDERAL DEPOSIT INSURANCE CORP. WEEEY BOND ■ MARET REPORT Heat, Humidity Cripple Activity5 New Issues MARKETS AT A GLANCE CHICAGO Wheat—Steady; trade light. Corn—Weak; profit-taking. Oats—Eased' on profit tak tug. Hogs — Nominally steady. Cattle—Nominally slow. NEW YORK, Aug. 16—(VP) The stock market regained its equib librum during the past week but that was about the best that could be said for it. For the second straight week there was not a mil lion-share session. Commodities continued to rise and bonds were narrow. Share transactions largely were in the hands of professionals who covered short commitments or bought sparingly on the idea that the substantial reaction of the two proceeding weeks had served as a normal technical correction of the broad rise since mid-May and put the list in shape for a fall rally if the news warrants. Many sep tics remained on the selling side, however, due principally to dark ening British and European eco nomic skies in addition to doubts regarding the business outlook at home. Fears that the inflationary wage-price spiral eventually would lead to a “bust” also restrained customers. The Associated Press 60-stock composite showed a net advance of .8 of a point at 66.1 on the week. Two years ago, upon the ending of hostilities, the index stood at 64.6. Most of the week’s markets were among the narrowest for nore than two months. Transfers] or the five sesions of 3,661,660 ihares compared with 3,592,113 the week before which was a low since the period concluded last rune 6. The overall average Monday hit i bottom since June 30 on 720,000 shares with pessimism over the ex aort-import situation inspiring of ferings. Moving picture stocks were an exception, rallying brisk ly following word that a compro mise of the heavy British tax on United States films was a pos sibility. Losses of 1 to 3 or more points predominated. The average drop of .4 of a point was the widest of the week. On Tuesday the market enjoyed its second best recovery of the week but activity dwindled to 690, 000 shares. A string of pleasing dividend and earnings aided senti ment. Steels, motors, rails and special issues led the swing. Slight irregularity ruled Wednes day with transfers holding at 690, 000 shares. Gold mines negotiated an early sprint on rumors from abroad that Washington might boost the price on the yellow met al. The group subsided, though, when adminstration officially spik ed the report as wishful thinking Packard motors was the speediest racer on the largest turnover for any stock in months. It totaled 140,400 shares alone and was ofl 1-38 at five. Offerins were reportec to have come from estate hold ings. Modest gains ruled Thursday bu dealings tapered to 680,000 share smallest of the week and a mini mum since Aug. 7. Mixed tenden cies ruled until the final hour whei activity quickened on demand foi rails.motors, steels and , sortment of specials >, Coverings for short's Vru counted mainly for the k 7 »i vance and the largest tl>; t two weeks. Boardroom °V(; mostly deserted because .’** persistent heat wave hm° ' traders took over and im„ «i and industrial specials 1 7 than 2 points. The day's ,1° ^ of 8880,000 shares was a t?11 July 30 and the average 7 !i5 .6 of a point the broadest July 31. 5' 't GRAIN RANGE CHICAGO, Aug, 16— taking appeared in the cc.''' on the board o£ trade toda'"“; prices slumped following a";,1 run-up. Oats followed the ac-5! corn, but wheat held rc;?; steady. Wheat closed unchanged . lower, September $2.38^ 1-2 5 ‘ was 2 3-4 to 4 cents'lov,-e- ? tember $2.33 1-4-2.33, arid were 1 to 1 3-8 lower, Set)tJ? $1.04 1-2-3-4. CASH GRAIN CHICAGO, Aug. 16— No. 1 red 2.423i. Corn No. 1 yellow 2.43- v. 2.42-2.43. Oats No. 1 heavy mixed No. 1 mixed 1.07-1.08; No. 2 '<1 No. 1 heavy white 1.09-1,10-» 1 white 1.07. Soybeans No. 2 yellow 2.23; r> inal. Barley malting 2.37-2.39 r.s> nal; feed 1.53-1.75 nominal. Field seed per hundredweij ■ nominal. llational Clothiers, hint SPECIAL for FRIDAY and SATURDAY—NEW FAIL TWEED SUITS specially priced at $39.50. 219 No. Front Street Oial2-15t( —■—^"'T.'." ’-I"--1 Heed s Jewelers — DIAMOND IMPORTERS — A LONGINES-WITTNAUER PRODUCl Here is your new watch—It’s a Wittnauer, sturdy and dependable member of the Longines-Wittnauer family of fine watches. These mod ern, up-to-the-minute timepieces are powered with the finely-finished Wittnauer watch movements that tell time so well, for so long. It’s Easy and Safe To Pay Bills When Yon Have A "POPULAR" Checking dccount | At The Wilmington Savings & Trust 1®* 1 Easy, because you can pay your bills by mail save lime and energy. Safe, because you oan slop payment on a check if it does not reach its destination, and what's more, your check is your receipt for every bill you pay. Stop in to morrow and let us open a checking account tor you. . 4 1. No Minimum Balance Required 2. No Monthly Service Charge 3. Only $1.00 for A Book of 10 Checks 4. Mnch More Economical and Convenient Than Postal Money Orders. THE WILMINGTON SAVINGS & TRUST CO. Established 1888 MEMBER THE FEDERAL RESERVE SYSTEM MEMBER THE FEDERAL DEPOSIT INSURANCE CORP.