Evening star. [volume], February 07, 1940, Page A-19, Image 19

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
G. C. Murphy Board
Votes $1 Dividend
On Common
ruymtnib oi / j v^cnis
Made in First Three
Quarters of 1939
By the Associated Press.
NEW YORK, Feb. 7.—Directors of
G. C. Murphy Co., chain store op
erators, declared a quarterly divi
dend of $1 a share on common stock,
payable March 1 to holders of rec
ord February 16. Payments of 75
cents each were made in the first
three quarters last year and $1 on
December 1.
General Tire.
General Tire <fc Rubber Co. di
rectors approved a common divi
dend of 50 cents a share payable
February 29 to stockholders of rec
ord February 19.
Turity Bakers Corp.
CHICAGO, Feb. 7 (/P).—Directors
of Purity Bakers Corp. declared a
dividend of 25 cents a share on the
common stock, payable March 1 to
stock of record February 16. A divi
dend of 85 cents a share was paid
December 1, 1939.
Directors of Cushman’s Sons, Inc.,
of New York, a subsidiary of Purity
Bakers. declared a dividend of $1.75
a share on the 7 per cent cumulative
preferred stock, payable March 1 to
stock of record February 16. No
action was taken on the $8 cumu
lative dividend preferred stock of
the company.
Union Tank Car.
Directors of the Union Tank Car
Co. declared an extra dividend of
10 cents a share on the capital stock
In addition to the regular quarterly
dividend of 30 cents a share, both
payable March 1 to stockholders of
, record February 16. A similar extra
was paid December 1, 1939.
S. S. Kresge Sales Rise
For January Period
Ey the Associated Press.
NEW YORK, Feb. 7.—S. S. Kresge
Co., among leading operators in the
low-priced variety merchandise
field, reports January sales of $9,
548.653, an increase of 3.1 per cent
from $9,262,994 in January last year.
I
Newspaper Advertising
Shows Slight Decline
Special Dispatch to The Star.
CHICAGO. Feb. 7.—Retail ad
vertising placed in newspapers of
80 major cities was 2.4 per cent
smaller during the week ended
January 27 than during the corre
sponding week of 1939. Advevrtising
Age. national advertising news
paper. reported today.
Volume for the week was 14.839,584
lines, compared with 15,202.272
lines in the same week of last year.
For the first four weeks of 1940,
however, retail newspaper adver
' tising maintained a fractional lead
over last year, with the current
total being 63.211,470 lines, com
pared with 63,196.166 lines in the
same period of 1939. This is an in
crease of 0.2 per cent.
250 Tons of Lead Sold
NEW YORK. Feb. 7 MP).—St. Jos
eph Lead Co. reported 50 tons of
Southeast Missouri pig lead sold
yesterday at $5.10 per 100 pounds,
East St. Louis; 75 tons at $5.30,
New York, and 125 tons at the
New York average.
Investing Companies
NEW YORK Feb. 7 •/?).—National Asso
ciation Securities Dealers. Inc.
Bid. Asked.
Admin Fd 2d Inc. -12.03 12.80
Affiliated F Inc._ 3.30 3.,2_
•Amerex Hold _35.375 lO.RTo
Am Bus Shrs _ 3.10 3.50
Am For Inv _ 7.18 7.90
Am Gen Eq Inc . .34 .39
Am Ins Stocks 3.25_ 3.7o_
Bankers Nat Inv A new __ 0.375 7.37o
Basic Industry . 3.82
>Blair & Co _ 1.625 2.50
Boston Fund Inc _ 15.24 10.39
Bullock Fund _ _ 33.125 34.50
Can Inv Fund 3.35 3.95
‘Central Nat Coro “A”_ 20.00 30.00
‘Central Nat Corp "B" . .. 2.00 3.00
Century Shrs Tr _ 25.55 27.47
Chemical Fund 10.54 11.41
•pomwlth Invest _ 3.49 3.79
‘Continental Sh pf _ 8.50 9.50
Corporate Trust _ 2.4 5 _
Corporate Trust A A_ 2.30 _
Corp Tr Accum _ 2.30 _
Corp Tr A A mod _ 2.T9 _
Corp Tr Acc Mod _ 2.7 9 _
Cumulative Tr Sh _ 4 88 _
. Depos Bk Sh N Y A”_ 1.56 _
Dppos Ins Shrs “A" _ 3.00 _
Depos Ins Shrs ‘B’’ .._ 2.60 _
Diversified Tr C _ 3.7 5
Diversified Tr D 5.85 0 00
Dividend Shrs 1 18 1.29
Faton & How Fund “A-l”, 17.79 19.1 o
Equity Corp $3 nf 23.75 24.25
Fidelity Fund Inc __ 18.“t 19 04
•First Boston Corp_16.25 17.75
First. Mutual Tr Fd_ 0 68 7.40
Fiscal Fund Bk Sh_ 2.54 2 80
Fiscal Fund Ins _ 3 44 3.79
Fixed Trust Sh A _ 9 80
Found Tr Sh A _ 4.00 4.55
Fund Investors Inc_17.oo 38 48
Fund Tr Shrs A _ 5.10 5.78
Fund Tr Shrs B _ 4.59
Gen Capital Corp _ 29.93 32.18
Gen Investors Tr _ 4.89 5.32
Group Sec Agriculture_ 5.23 5 To
Group Sec Automobile _ 4.51 4.92
Group Sec Aviation _ 8.7 7 9.53
Group Sec Building_ 5.82 6.34
Group Sec CtiemicaJ _ 0 71 7.30
Group Sec Foods 4.49 4.90
Group Sec Invest Shrs _ 3.15 3.44
Group Sec Merchandising 5.34 5.82
Group Sec Mining _ 5.84 0.30
Group Sec Petroleum_ 4.29 4.68
Group Sec R R Equip_ 3.77 4.11
Group Sec. Steel _ 5.15 5.61
Group Sec. Tobacco_ 5.27 5 74
Incorp Investors _ 3 5.79 10.98
Independence Tr Sh_ 2.23
Instl See: Bank Group_ 1.10 1.21
Instl Sec: Insurance- 1.34 1.47
Investors Fd "C" Inc- 10 44 11.14
Keystone Custodn B 1 - 26.55 29 04
Keystone Custodn B 2 _ 21.25 23.27
Keystone Custodn B 3 13.05 15.03
Keystone Custodn K 1 14.77 16.17
Keystone Custodn K 2 - 9.55 10.52
Keystone Custodn S 2 _ 3 3 74 15.14
Keystone Custodn S 3 _ 9.00 30.72
Keystone Custodn S 4 _ 3*80 4.34
Manhat Bond Fund- 0.66 7.35
Maryland Fund_ 4 90 5.45
Mass Invest Tr_ 20.48 22.02
Mutual Invest -10.52 11.50
Nation Wide Sec - 3 /4
Nation Wide Voting- 123 1.30
Natl Investors 5.9K 6.37
New England Fund — 12.30 13.-6
N Y Stocks. Automobile . 5.12 n 56
N Y Stocks Aviation _ 11.46 12.38
N Y Stocks Bk Stocks __ 8.85 9.57
‘NY Stocks, Bide Supply .. 0.18 6.*9
N Y Stocks. Chemical 9.03 9.70
N Y Stocks. Elec Equip - 7.51 8.13
N Y Stocks. Insurance_10.25 1108
N Y Stocks, Machinery __ 7.50 8.18
N Y Stocks. Oils ' ___ 7.31 7.91
N Y Stocks. Railroad _ 3.27 3.55
N Y Stocks, R R Equip 0.25 0.77
N Y Stocks. Steel _ 0.04 7.19
North Am Bond Tr ctfs._ 48.125 _
Nor Am Tr Shares 1953 _ 2.30 _
Not Am Tr Sh 1955 _ 2.80 _
Nor Am Tr Sh 1950 _ 2.80 _
Nor Am Tr Sh 1958_ 2.59 __
Plymouth Fund Inc_ .30 .44
Putnam (G ) Fund _1.3 SI 14.77
Quarterly Income Sh _ 7.90 8.80
•Schoellkopf-Hut. & Pom. .50 1.25
Selected Am Sh Inc_ 8 78 9.57
Selected Income Sh _ 4.29
Sovereign Invest _ .05 .72
Spencer Trask Fund_15.30 16.27
Stand T7til Inc _ .43 .49
•State Street Invest_ 73.00 76.50
Super of Am Tr A_ 3.63 _
Super of Am Tr B _ 3 81 _
Super of Am Tr AA_ 2.52
Supervised Shrs _ ;i.9o 10.70
Trustee Stand Inv C _ 2.48 2.58
Trustee Stand Inv D_ 2.42 2.53
Trustee St. Oil Shrs A_ 5.39
Trustee S* Oil Shrs B_ 5.00 _ .
Trusteed An Bk Shrs .75 .0.3
« Trusteed Industry Shrs_ .85 .94
Wellington Fund . 14.11 15.51
Quotations furnished by National Asso
ciation of Securities Dealers. Inc which
states they do not necessarily reflect actual
transactions or firm bids or offers, but
should indicate approximate prices, and
unless otherwise indicated, are as quoted
by the sponsors or issuers
•Asterisk indicates. “Not quoted by spon
sors or issuers.” ^
Crude Oil Production
Decreases With
Cut in Texas
Operations of Refineries
Slow to 79 Per Cent
Cf Capacity
By the Associated Press.
NEW YORK, Feb. 7.—Daily aver
age crude oil production in the
United States decreased during the
week ended February 3 to 3,498,800
barrels, compared with 3.611.600 bar
rels the previous week and 3.441.950
a year ago, the American Petroleum
Institute reports.
was responsible for the decline,
which reduced daily output to 70,900
barrels less than the Bureau of
Mines calculated requirements for
January.
Operations of reporting refineries
slowed to 79 per cent of potential
capacity from 80.9 per cent the
previous week. Runs of crude oil
to stills for the industry as a whole
were estimated at 3.395,000 barrels a
day, compared with 3.470.000 the
week before and 3.134.000 a year ago.
Gasoline production during the
week increased to 11,032.000 barrels,
against 10,986.000 the previous week.
Consumption, however, held at a
seasonally low’ level and gasoline
stocks rose sharply again to 89.337.
000 barrels, compared with 87.914.000
barrels a week earlier and 80.089.000
a year ago.
Imports of crude and refined oils
at principal ports totaled 1.053.000
barrels during the week, against
922.000 the week before.
Refinery operations for the period
were reported as follows, on the
Bureau of Mines basis:
Crude runs to stills (daily aver
age!. 3.395.000: decrease, 75.000.
Total United States gasoline pro
duction week!, 11.032,000; increase,
46.000.
Total finished gasoline stocks, 82,
986.000; increase, 1.131.000.
Unfinished stocks, 6,351.000; in- j
crease, 292,000.
Total finished and unfinished I
stocks, 89,337,000; increase, 1.423.000. i
Gas oil and distillate fuel, 26,861,
000; decrease, 546,000.
Residual fuel oil, 102,536,000; de- ;
crease, 479,000.
Court Approves Plan
To Reorganize Utility
By the Associated Press.
WILMINGTON, Del., Feb. 7.—An
amended plan of reorganization for
the Mountain States Power Co.,
which operates chiefly in Oregon.
Wyoming, Idaho and Montana, was
approved yesterday by United States
District Court Judge John P, Nields.
The company, registered in Dela
ware, is in reorganization proceed
ings under Section 77-B of the Fed
eral Bankruptcy Act. The Securities
and Exchange Commission had pre
viously approved the amended plan.
Under the amended plan of re
organization the present funded debt,
represented by first mortgage gold
bonds totaling $8,182,250, matured
January 1, will not be affected, as
they will be paid in cash in full with
the proceeds of the sale of $7,500,
090 of new 4L per cent bonds and
a bank loan of $600,000. evidenced by
issuance of 3 per cent serial notes.
The Standard Gas A: Electric Co.
will receive in settlement of its claim
as creditor the amount of $6,947.
292.52. and 140,614 shares of the new
common stock of Mountain States
Power, or 36.38 per cent of the total
issue.
Industrial Loans
Continue to Contract
By the Associated Press.
NEW YORK, Feb. 7.—Commercial,
industrial and agricultural loans of
reporting Federal Reserve member
banks in 101 leading cities have de
clined in six of the last seven weeks,
falling off a total of $121,000,000
during that period. *
Part of the decline has resulted
from a normal post-Christmas con
traction in the amount of business
loans outstanding, but the drop-off
also reflects the slowing down of
general business.
Commercial loans rose steadily
during the fall upturn to a peak of
$4,416,000,000 on December 13. a gain
of $544,000,000 from the same date
the previous year. The total has
now declined to $4,295,000,000, only
$528,000,000 higher than a year ago.
Directors Will Be Elected
Special Dispatch to ~ • Star.
GLEN ECHO, Md„ Feb . 7.—A
board of directors will be elected
and other business of importance
transacted at the annual meeting
of stockholders of the Washington
& Glen Echo Railroad Co. at the
office of the company in Glen Echo
at 1 p.m. February 14.
United States Treasury Pos
B.v the Associated Press.
The position of the Treasury Febru
year ago.
Receipts -
Expenditures -
Net balance -
Working balance included
Customs receipts for month -
Receipts for fiscal year (July 1)
Expenditures ----
Excess of expenditures _
Gross debt ---—
increase over previous day -
.Gold Assets —-—
Bethlehem Issue
In March May
Set Record
By the Associated Press.
NEW YORK, Feb. 7.—Dow Jones &
Co., financial news agency, reports
one of the largest corporate bond
issues ever attempted is expected
early in March with the sale of
around $102,000,000 Bethlehem Steel
Corp bonds.
A syndicate headed by Kuhn Loeb
& Co., and Smith Barney & Co. is
expected to market the loan. Pro
ceeds from the issue, which tyould be
filed with the S. E. C. before Feb
ruary 15, the agency said, would be
applied to redemption of the com
pany's 4’is, due 1960, and the 3%s,
due 1966. Three per cent was men
tioned as the possible coupon rate.
Baltimore Markets
Special Dispatch to The Star.
BALTIMORE. Md„ Feb. 7.—Po
tatoes, 100-pound sacks, 1.50a2.25; ;
Idaho, 2.25a2.35; new, bushel, 175a
2.00; sweet potatoes, bushel, 50a90;
nearby, 40a65; yams. 40a90; beans; j
bushel. Southern, 2.50a4.75; beets.
Western, crate, 1.50al.60; broccoli,
crate, 75a2.50; brussels sprouts, 'a
drum. 2.50a3.00; cabbage, old, 50
pound sacks, 90al.l5; new, 1 V2
bushel hampers. 60al.50; carrots,
bushel. 75al.00; Western, crate, 2.50a
3.00; cauliflower, crate, 50al.50; cel
ery, crate, 1.75a3.25; collards, bushel,
35a40; cucumbers, bushel 4.00a600;
eggplant, l’i-bushel crate, 2.50a5.00;
kale, bushel, 40a60; lettuce, crate,!
Iceberg, 2.50a3.00; mushrooms, 4
;uart basket, 35a50; onions, 50-pound
sack, 1.00al.l5; Western, 1.10al.15;
peas, bushel. Western, 2.50a3.50;
Southern, 2.50a2.75; peppers, l'i-l
bushel crate. 4.50a5.00; spinach,!
bushel, 1.50al.75; squash, bushel,
1.75a2.25: tomatoes, lug, 2.50a3.50;
turnips, nearby, purple tops, \2 bush
el. 15a25; yellows, 100 pounds, 1.00a
1.25; apples, bushel, 35al.35; grape-!
fruit, box, Southern, 1.25a2.25; West- \
ern, 2.50a3.25: lemons, box, 4.75a
5.00: oranges, box, Florida, 1.50a2.50; |
California, 1.25a2.00; rhubarb, car
ton, 35a50; strawberries, pint, 26a30;
tangerines, box, Florida, 1.00al.75.
ruunrv ana r.ggN.
Live poultry—Chickens, Rocks,
pound, 15al8; pullets, 18al9; crosses,
14al7; mixed colors, 14al7; fowl,
Rocks, 17al8: mixed colors, 15al7:
Leghorns, 12al4: roosters, mixed
colors, 10al2; Leghorns. 7al0; ducks,
Pekins, 13al5; Muscovy, 14al5;
mixed colors, 10al2; geese, 16al8;
guineas, each, 30a45; capons, 21a23;
turkeys, hens, 20a21; toms, 14al5.
Eggs—Nearby, ungraded, large,
white, dozen, 27a28: medium, 25a26;
mixed colors, 25a26; receipts, 2.034
cases.
Butter—Prints, 92 score, pound,
32a33; 90 score. 31a32; country rolls,
21a23; packing stocks, 17al8; re
ceipts, 1,187 tubs.
Live Stock Market.
Cattle, 125. Few head steers and
odd lots cows around steady with
former days this week; medium
1,000 pounds steers, 8.50; few com
mon fat cows, 5.25a5.50: canners and
cutters, mainly 4.00a5.00; other
classes lacking.
Calves, 25. Steady with Tuesday;
good and choice vealers, 12.00al2.50;
common and medium, 9.00all.00;
light culls dow'n to 7.00 or below.
Hogs, 500. Steady with Tuesday;
good and choice 170 to 210 pounds,
5.95a6.20; practical top, 6.20; 220 to
240 pounds, 5.65a5.90: 140 to 160
pounds, 5.60a5.85; 250 to 300 pounds,
5.25a5.65; 120 to 140 pounds, 5.25a
5.50: packing sows, 4.20a4.70. Above
prices based on grain-fed hogs and
price premiums occasionally paid for
through billed rail consignments
purchased for reshipment not rep
resented.
Sheep, none. Nominal. Good and
cnoice ewe ana weiner lamas quot
able steady with Monday, from 10.50
al0.75; fat slaughter ewes quotable
up to 4.50 or possibly above.
Grain Market.
Opening prices were: Wheat, No.
2 red winter, garlicky, spot, domes
tic, 1.11%. Settling prices were:
Wheat, No. 2 red winter, garlicky,
spot, domestic, 1.11%. Corn, No. 2
yellow, domestic, bushel, 69a71.
Western billing at premium over
this price. Cob corn, barrel, new,
3.30a3.50; country prices reported,
3.10a3.30. Oats, bushel. No. 2 white,
domestic, 56a61; Pacific Coast, No.
1, white, 72a74.
On all sales of oats to the local
trade, excepting those on track,
there is an additional charge of 1%
cents per bushel for storage and ele
vation, which is paid by the buyer.
Rye, No. 2, bushel, 75a80. Barley,
No. 2 bushel, 60a65. Hay, ton, 10.50a
14.00. Wheat straw, ton, 6.50a7.00.
Flour, barrel, winter, patent, 4.75
a6.05; winter, straight, 4.65a4.90;
spring, patent, 5.90a6.15; spring,
straight, 5.65a5.85; hard winter,
patent, 5.55a5.75; hard winter,
straight, 5.35a5.60; rye flour, dark
to white, 4.10a4.90.
Mill feed, ton, spring bran, 31.00a
32.00 standard middling, 30.50a31.50.
Be sure the way Is clear before
you attempt to pass.
tion
ary 5 compared with comparable date a
February 5. 1940 February 4 1939.
857.162.104.47 S25.30S.936.P5
..ft. 1 , J.7« ! >9 32 0 .11.650 S3
. 2 335.741.672.SR 3.079.418.60S 47
. 1.623.644.891 57 2.433.854.251.56
4.401.932.35 3.278.942.25
. 3 198.907,417.60 3.346.223.300 0.3
. 6,634.555.536.52 5.396.436.954.85
. 2 435,648.118.92 2,050.213.654.82
. 42,147.730.619 61 89.695.743,888.73
12.034.086.12 _ - - -
. 17.952.877,108.62 14,708,07^,054.81
Moore Sees ’Chance'
State Will Get Part
Of Exchange Trade
New Jersey Governor
Says Members Have
Approached Him
By the Associated Press.
TRENTON, N. J„ Feb. 7.—Gov.
A. Harry Moore said today mem
bers of the New York Stock Ex
•
change had asked him whether it
could “get a break” if they moved
the exchange to New Jersey to es
cape taxation in New York.
The Governor said he would not
issue a formal invitation, but be
lieved there was a “good chance”
the exchange would move part of
its trading to this State.
Suitable quarters in Newark or
Jersey City could be made available
readily, he added.
It would be profitable for the
exchange, the Governor pointed out,
to transer to New Jersey its trading
in at least the stocks with the great
est bulk turnover, because, in view
of the New York State transaction
tax, it now was much cheaper to
deal in these stocks on the Chicago
or Boston exchange.
In 1933 the exchange threatened
to move to New Jersey to escape
an impending New York City trad
ing tax. Overtures were made to
Newark officials for leasing of Cen
ter Market, but negotiations were
dropped when the then Mayor of
New York, John P O Brien, vetoed
the proposed tax ordinances.
'Official' Consideration
For Move Is Lacking
NEW YORK, Feb. 7 W.—The
New York Stock Exchange officially
has not considered proposals for
shifting dealings to New Jersey, a
spokesman for the exchange said
today.
The exchange, he said, is hopeful
the State Legislature at this session
will approve a pending bill for
downward revision of the New York
State transfer taxes on share trans
actions.
Meanwhile, he added, the ex
change itself has not been carrying
on “flirtations” with other States.
Some business interests in Con
necticut also were reported in brok
erage circles seeking to get the ex
change invited to that State.
Harry Augenblick, a New Jersey
resident and member of the ex
change, said he had turned over a
letter addressed to him by Gov. A.
Harry Moore of New Jersey to gov
erning authorities of the exchange.
bnarp Gains Reported
In Airline Traffic
In the first month of Capital fleet
service, with its new 1940 transport
planes, Pennsylvania-Central Air
lines experienced an 83.47 per cent
increase in revenue passenger
traffic and an 80.54 per cent increase
in revenue passenger miles flown
over January of last year, it was
reported today by J. J. O'Donovan,
vice president in charge of traffic
for the airline.
On the Washington-Detroit divi
sion business increased 69 per cent
over January, 1939: Pittsburgh gain
ed 57 per cent, Akron was up 119
per cent, Cleveland up 69 per cent
and Detroit up 104 per cent.
Listed Bond Values
Decline in December
By the Associated Press.
NEW YORK, Feb. 7.—The New
York Stock Exchange today re
ported bonds listed on the exchange
with a par value of $53,987,705,347
had a market value of $49,678,805,641
as of January 31. This compared
with issues with a par value of $54,
066,782.942 and a market value of
$49,919,813,386 on December 30.
On January 31 there were 1,391
issues listed and the average price
was 92.02 per $100 bond, against
1,395 issues and an average of 92.33
a month earlier.
U. S. Dollar Holds
At 43.80 Francs
By the Associated Press.
PARIS. Feb. 7.—The United States
dollar held at 43.80 francs <2.283
cents to the franc) in foreign ex
change dealings today, compared
with 2.260 cents to the franc in
New York overnight. Exchange on
London, 176.625.
Three per cent rentes in the
bourse were 73.75 francs; 4\is “A,”
82.25; 4Vis 1937, 216.00.
Tobacco Sales Brisk
On Knoxville Market
s
By the Associated Press.
KNOXVILLE, Tenn., Feb. 7—De
spite lateness of the season, tobacco
sales continued brisk on the Knox
villt and Johnson City markets.
Greeneville had a comparatively
small amount of poundage.
Knoxville’s average was the high
est of the three remaining East
Tennessee markets—$18.40 per 100
pounds.
New York Sugar Futures
NEW YORK, Feb. 7 OPt.—Sugar futures.
No. 3, opened unchanged. March,
May. 1.93; July,* 1.09b; September. 2.02b;
January, 1.09b.
b Bid.
1
Ward Baking Co.
Reports $203,972
Net for Year
National Biscuit Co.
Reports Income Equals
$1.68 Common Share
By the Associated Press.
NEW YORK, Feb. 7.—Ward Bak
ing Co. and subsidiaries reported
today for the 52 weeks ended
December 30 net profit of $203,972,
equal to 80 cents a share on the
7 per cent preferred stock, compared
with net profit of $831,565, or $3.25 a
share on the preferred, in the 53
weeks ended December 31, 1938.
Ohio Brass Co.
Ohio Brass Co. and wholly-owned
subsidiaries for 1939 showed net
operating profit of $468,621, against
prot of $15,629 in 1938.
Shawinigan Water & Power.
Shawinigan Water & Power Co.
reported for 1939 net earnings after
charges, including allowance for
taxes and depreciation, of $2,304,826,
or $1.06 a share, compared with
$2,261,130, or $1.04 a share, for the
preceding year.
The outbreak of war, the company
reported, increased business of its
wholly owned subsidiary. Shawinigan
Chemicals. Ltd. Six new industries
were located in the company’s elec
tric power territory (in Quebec),
and important new construction
protects, including generating plants
and additional water storage facili
ties, have been undertaken.
American Brake Shoe.
American Brake Shoe fc Foundry
Co. renorted net earnings for 1939
of $2,121,172, or $2.39 a common
share, compared with $1,080,719, or
$1.03 a share, in 1938. Unfilled or
ders at the end of 1939 totaled $3 -
500.000. compared with $1,250,000 on
December 31, 1938.
National Biscuit Co.
National Biscuit Co. reported 1939
net income after preferred require- j
ments amounting to $10,597,689, or
$168 a common share, compared
with the 1938 figure of $11,063,455, j
or $1.76 a share.
Washington Exchange
SALES.
Columbia Title Insurance Co.—10 at
12%.
AFTER CALL.
Potomac Electric Power 6% pfd.—5
at 117.
Washington Gas Light common—5 !
at 28%.
Capital Traction 1st 5s—$500 at
98%; $1,000 at 98%.
Washington Gas Light common—50
at 28%.
BONDS
PUBLIC UTILITY.
B:d Aj-«d
Anacostia A Pot 5s__ 961/* 100
Ana A Pot guar 05__11 * *1 a
Cap Traction 1st 6s _ 96 99
Citv A- Suburban 5s . _ 9n»a 100
Georgetown Gas 1st 5s_118 _
Po» Klee Pow 3*4* 108 ____
Washington Gas 5s 1960 128 _
Wash Rw’y A Eiec 4s 108 _
MISCELLANEOUS
Chevy chase Club 1st 4Ua- 104 _
Col Country Club 1st 4Us 103 _j
Ter Hel A Wh Corn 1st 4 Us loo _
STOCKS
PUBLIC UTILITY
Amer Tel A Tel (9) 171V* _
Capi’ai Transit Co (t.50) 13‘a 14U
N A W Steamboat <4>_ 58 70
Pot Elec Pow 6r. pfd (6> 115
Pnt El Pw b]2rr Pfd <5 50) 114 1 15U
Wash Gas Lt com <1 50) 2SU 29U
Wash Gas Lt pfd (4.50) *106 108
Wash Rv A Fi com <g36) 780
Wash Ry A El pfd (5) 116 _1
BANK AND TRUST COMPANY
Amer Sec A Tr Co <e8)_ 250 265
Bank of Brthesda (.75)_ 30 __ \
Capitaj (v4» ... 350 176
Com A Savings (ylO.OO)_270
Liberty <6) _ 166 180
Lincoln (y5> _ 200 _
Nat! Sav A Tr <4.00) _ 185
Tr Georges Bk A Tr (.60) 1SU 22
Rirks «e8) __ 270 285
P!traf. pfd (5) . ... ion
Washington (6) _ 121
Wash Loan A Tr (e8) 235 250
FIRE INSURANCE
American (*6> . _ 3L5 _ __
National Union (.75) 15 18
TITLE INSURANCE
Columbia (k.30) 12% _
Real Estate <mt>> 165Vi _
MISCELLANEOUS
Carpel Corp (2.00) _ 28 31
Lanston Monotype (2.00) _ 32 36
Lincoln Sere com iti.00) 19% 21%
Lincoln Sv 7<?r Dr pfd (3.50) 46 52
Mergenthaler Lino ip.50) 14 15%
Natl Mtge <fc Inv pfd <d.35) 3% 4%
Peoples Dr Str com (+1.00) 34
Real F.st M & G Dfci (.50) _ 5% 6Vi
Security Storage (5) _ 90 100
Ter Ref Wh Corp <3> 58 62
Wdwd & Loth com (s2.00)- 48 55
Wdwd «fc Loth Pfd <7)_ __ 118 _:
•Ex-dividend
tPlus extra d 35c paid In 1939. e 2%
extra g$14 00 extra paid December 23.
1939 k 20c extra, m SI 50 extra p 50c
paid September 20. 1938 s S2 00 paid in :
1939 1 50c paid December 20. 1939.
v SI oo extra paid January. 1940. y $5.00
extra.
Foreign Exchange
NEW YORK. Peb. 7 UP).—A drop of
% cent in the Canadian dollar was the
largest in a long list of downward revi
sions among major foreign monies in the
exchange market today.
Only unit to withstand the pressure j
was the Netherlands guilder, which Jumped i
more than 1-10 cent yesterday and was
unchanged today in relation to the dol
lar.
Sterling dipped V'a cent and the French
franc .00% of a cent. The belga and
Swiss franc posted small losses
Late rates follow (Great Britain in doU
lars. others In cents):
Canada.
Official Canadian Control Board buy
ing rate for United States dollars. 110.00;
selling rate. 111.00. Open-market rates,
Montreal In Now York, 86.93%: New
York in Montreal. 115.00.
Europe.
Great Britain, demand. 3 97%: cables.
3.98: 60-day bills. 3.96; 90-day bills,
3.94%.
Belgium. 16.83: Denmark. 19 33: Fin
land. 1.80n: France. 2.25%: Germany,
40.l8n (benevolent. 16.50: travel, un
quoted*: Greece. .73%n: Hungary, 19.50n:
Italy. 5 05: Netherlands. 53.20: Norway,
22.73: Portugal. 3.70n: Rumania. 63n:
Sweden, 23.83; Switzerland, 22.42; Yugo
slavia. 2.35n. *
Latin America.
Argentina, official, 29 77: free. 23 00;
Brazil official, 6.05: free, 5.10; Mex
ico. 16.75n.
Far East.
Japan. 23.49: Hong Kong, 24.77: Shang
, hai. 7.45.
(Rates in spot cables unless otherwise
indicated n Nominal.)
New York Produce
NEW YORK. Feb. 7 OP).—Eggs. 23.410,
firm. Mixed colors: Fancy to extra fancy
27%-%: extras. 26%-27: storage packed
firsts. 26%; graded firsts, 26%: seconds.
24*2-25; mediums. 24: dirties. No. 1. 24:
average checks. 21%-22. Refrigerator
firsts, 23%-24%; seconds. 21%-22%.
Whites: Resale of premium marks. 28%.
31; nearby and Midwestern, premium
marks. 26%-28; specials. 26: standards.
25%. Resale of nearby heavier mediums,
25-28. Nearby and Midwestern mediums.
25.
Browns: Nearby fancy to extra fancy.
27%-%. Nearby and Midwestern specials.
27%: standards. 25: mediums. 24%.
Duck eggs: 25-28.
Butter. 1.021.750. firmer. Creamery:
Higher than extra. 30%-31%; extra (02
score). 30%: firsts (88-01). 29%-30%;
seconds (84-87). 27%-20%.
Cheese. 234.176. steady to firm. Prices
unchanged.
Flour steady: spring patents. 6.50-75:
soft, winter straights 6.00-6.25; hard win
ter straights. 0.50-75.
Rye snot firm: No 2 American, f ob.
New York 85%. No. 2 Western, c.t.f. New
York. 84%.
Barley firm: No. 2 domestic, c.l.f. New
York. 65%. _
Lard steady; Middle West. 6.52%.
Other articles steady and^ unchanged.
1
Electrical Companies
Face $500,000 Suit
Over P. W. A. Bids
Further Action Studied
After Levying of Fines
On Fraud Charges
By the Associated Presa.
PITTSBURGH, Feb. 7.—Collec
tion of fines aggregating $54,150
may not conclude court action
against 57 electrical contractors,
union leaders and corporations who
pleaded no defense to charges of
conspiracy to defraud the Gov
ernment on P. W. A. electrical
costs.
With sentencing out of the way,
the Department of Justice and
the city of Pittsburgh both dis
closed they were considering plans
to proceed against the contractors
for recovery of losses.
Attorneys claimed the Govern
ment lost $500,000 in five years due
to bid-rigging and collusion, while
City Solicitor William Alvah Stew
art said the city's losses could not
have exceeded $7,500.
Definite Action boon.
“The matter of filing an action for
the recovery of losses sustained
by the Government is a very im
portant one," declared Acting
United States Attorney George
Mashank. “We are studying it and
will take definite action in a very
short time ”
City Solicitor Stewart commented
that “we will take steps to recover
from the various contractors any
apparent excess in the several city
W. P. A. contracts where tl^ere
is a possibility that collusive bids
were submitted.”
This information came quickly
after Federal Judge F. P. Schoon
maker levied the fines yesterday
on indictments returned during a
grand jury inquiry into building
costs here.
Will Combat Diversion.
Assistant United States Attorney
M. Neil Andrews declared the
fines the “most substantial punish
ment” meted out since the Gov
ernment started its anti-trust inves
tigation.
In Washington Col. E. W. Clark,
acting public works commissioner,
asserted the successful prosecution
"constituted notice that the P. W.
A. intends relentlessly to combat
groups and individuals who seek
illegally to divert the benefits of
the P. W. A. program to their pri
vate purses.”
London Gold and Silver
LONDON. Feb. 7 .—Bar silver. 211 ad.
off A. (Equivalent 38 99 cents on the
dollar basis 54 <»3 >
Bar eold, 188s, unchanged. (Equiva
lent, $33.85.)
Buick Sales
Are Above
1939 Figure
Ey the Associated Press.
DETROIT, Feb. 7.—Buick motor
division of General Motors Corp.
announced yesterday that its do
mestic retail sales of new cars last
month totaled 19,044 units com
pared with 13,004 in January a year
ago.
The announcement said that De
cember sales totaled 25,456, and de
scribed the January decline as “less
than seasonal.”
London Tin Quotations
LONDON. Feb 7 </P>.—Tin spot. £238
bid. £2 !« 5s asked; future. £237 15s. bid.
£238 asked. mm
(Insurance I
r. .m
/ No matter what type or \
/ policy you need, we can \
/ serve yon most efficiently \
★ We are prepared to i ]
budget yonr Insurance
\ costs and finance your I
\ premiums. /
\ Investigate this servleel /
* Jf
& CO. —
1700 Eye St. N.W. ME 3996
]
( We
Photo-offset operate a Yt
Reprndut ttona complete Re- 11
of Book'. print and Extra
Map'. Forms. Cnjtr Service. I
etr.. styled to ME. 189’i. II
Your Needs H
LetterpreMS ».»
jjfc ^ ^3 or Off Met <£♦
flpffljfj PRINTING $
Consult our repre
sentative on how
iKnMMkalg <o fill vnur print
inr needs at loss
OMRdRtfbflBI rost. We invit* PjSI
ByTiliiiiB your inquiry!
fiplfjHifcOB Lincoln 6060 $£
IWJil liKW Ml
STOCKETT
FISKE CO.
91# E ST. K.W.
..; * Retell Btetlenerf ;¥|
b ^^8
Lmh^
r
■ '/
»
Mortgage Loans
HOUSES
APARTMENTS
BUSINESS PROPERTIES
Randall II. Hagner & Company
INCC.O.ATED '
HOHOAOI Loan cohmpondint
1321 Connecticut Ave. N.W. Telephone DEcatur 3600
I1—.-. —..J
f i ON IMPROVED D. C. AND
j NEARBY MARYLAND
f J PROPERTY
• For buying, rebuilding or refinancing at
^ prevailing rates of interest.
T 1 Loans repayable monthly.
v ^ No charge for appraisal if loan is not made.
; ' •» Interest charged only on unpaid balance of
principal.
jtl j Equitable Co-operative
Pc.-l Building Association
915 F ST. N.W. ORGANIZED 1879
|J
-Arrange Xjotir
Oltie c*~uuii r iuii/•
5raHE time for Spring construction work
pas# is near. Make your Columbia home i
| Books financing arrangements now and be !
?c-nba'ar.nf ready for the first break in weather. j
cTi^°each Columbia Federal has funds here for
payment. y0ur neecJ$—no recj tape,
prevailing interest rates,
loans easily secured with
out undue waiting. Con
: suit one of our officers.
©ILQDfftEDAPEEGEM
savmcs l Loan associanon
| 716 11th Street, N. W. NAtional 6543
I BUILDERS I
I LET WEAVER BROS. I
I REDUCE YOUR I
I CARRYING CHARGES I
1 Ii your carrying charges are too high, write or phone 1
1 today for details of the new Weaver low-interest, long- 1
I term Mortgage which will reduce your carrying charges 1
P and place your operations on a more efficient basis. I
I Because of 50 years experience in home financing you I
I will find a real understanding of your problems when I
I you deal with Weaver Bros. We have ample fund* for I
I handling mortgages on large or small building opera- §
1 tions—apartment houses, office buildings, stores and 1
I other properties. Phone for the facts—today. 1
WEAVER
BRO$.n<
I MORTAAAE LOANS J
p Mortgage Lean Correspondent jl
1 Metropolitan Lift Insurance Company 1
| WASHINGTON BUILDING • DISTRICT 8300 I