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% liU wust »°»*h We Will Buy tnd Trust Note* De sirably ■• Secured on Residential Property, Reasonable Rates. | National Mortgage & Investment Corp. I Hit H. Y. At#. N.W. 7 Saving Accounts insured! An old axiom reads, "A sound invest ment is a safe one." Your saving ac count here is insured up to $5,000, while earning dividends. ' Open a "share account" ... LUMP SUMS ... or monthly deposits. With drawal privilege. Aisete Over $3,000,000 WASHINGTON PROPERTIES G. M. 7% INCOME BONDS A first mortgage upon Wardman Park Hotel and Carlton Hotel, and fur ther secured. Each $1,000 bond has re ceived in interest the fol lowing: 1936, $45; 1937, $51.50; 1938, $49.50; 1939, $44.50. Based upon these payments the bonds yield over 9% at 52. The t r u s tee recently bought for retirement over $1,000,000 of these bonds at an average price exceeding 63. ,, ‘ Inqmtiew Invited THOS. L. HUME (E»t. 1899) * 917 15th Street NA. 1346 INTERSTATE INSURES YOUR SAVINGS Dividends on your savings increase prin cipal rapidly. Insur ance up to $5,000 means full protection of that principal. Let us give you complete information today. INTERSTATE BUILDING ASSOCIATION Washington Building 15th St. A Now Task Aos. District 8300 j ■ Advantageous fl fl Financing R I can be arranged— fl 8 where money is re- 8 I quired to buy, build 8 or refinance a trust B 8 in the District or B 8 nearby Maryland or 8 I Virginia. B B First Mortgage fl fl ' Loans, in any desired it ■ amount, will be made ;■ ■ on approved appli- fl H cations—with choice fl fl of these plans: flj fl 3-Year Straight Loans Ri fl or S fl Monthly Payment fl B Loans fl If Ah* F. H. A. Facilities ■ Prompt considera- flj ■ tion given all appli- fl fl cations. fl fl B. F,. SAUL CO. I fl 92515th St. Na. 2100 § ^Mortgage Loansfl n A Treasury Now Holds Almost 70 Per Cent Of World's Gold Sensational Advances In Gold Purchases Paced War's Rise Ej the Associated Press. Gold stocks of the United States Treasury have climbed past $19, 000,000,000 — approximately 70 per cent of all the monetary gold in the world. Treasury gold purchases have gone up sensationally in the last year because foreigners in every part of the globe were shipping the metal here both for safekeeping and to pay for American merchan dise. The Treasury said today that on May 20 its gold holdings aggregated $19,048,473,148, compared with $15, 906,260,707 exactly a year ago. The British Empire accounted for a big proportion of the shipments, largely in preparation for the pur chase of airplanes and other war supplies here. However, smaller nations shipped as much as they apparently could in efforts to pre serve their metal. In addition to the Treasury gold stocks, foreigners have approximate ly $1,258,000,000 of the metal de posited in their own names in the American Federal Reserve banks. All but $199,101,226 of the Treas ury gold, however, is unavailable for spending. Nearly $17,000,000,000 of the Treasury gold has been pledged to the Federal Reserve banks in pay ment for currency already given the Treasury. Another .$1,800,000,000 is in the stabilization fund, while other smaller portions are obligated for other purposes. New England Phone Votes $1.50 Dividend By the Associated Press. BOSTON, May 22.—A dividend of $150 a share, payable June 29 to common stock holders of record June 7, was declared by directors of the New England Telephone & Tele graph Co. The last previous dividend, on March 30, was $1.75 per share. Dur ing 1939 dividends of $1.50 each were paid in each of the first three quar ters and $2 in the final quarter for a total of $6.50. -r.— — ■■ ■ Terra Cotta Orders Rise April orders for terra cotta are reported by the Census Bureau at 1,023 short tons, compared with 964 In March and 2,102 In April, 1939. Investing Companies NEW YORK. Msy 22 UP.—NstionsI As sociation Securities Dealers, Inc.: Bid. Asked. Admin Pd 2nd Inc_ 8.86 9.43 Aeronaut Sec_ 8.15 8.86 Affiliated P Inc_*_ 1.89 2.07 •Amerex Hold_ 11.50 :13.00 Am Bus Bhrs __ 2.40 2.66 . Am For Inv _i_ 6.01 6.63 Am Oen Ea Inc_ .22 .26 Am Ins. Stocks... .. _ 3.00 3.60 •Bankers Ne* Inv Corp A.. 6.875 8.875 Basic Industry __ 2.96 •Blair Si Co __: .876 1.82* Bullock Fund_^ 9.876 11.26 Can Inv Fund 2.33 3.10 •Central Nat Corp "A”_ 23.00 26.00 •Central Nat Corp *'B”_ 1.00 2.00 Century Shrs Tr_ 20.22 21.74 Chemical Fund_ 8.58 9.28 Comwlth Invest _ 2.69 2.92 •Continental 8h pf_*._ 7.00 8.00 Corporate. Trust _ 1.97 __ Corporate Trust AA_ 1.93 _ Corp Tr Accum _ 1.93 _ Corp Tr A A mod_ 2.23 _ Corp Tr Ace Mod__ 2.23 _ Cumulative Tr Sh _ 3.86 _ Depos Bk Sh N Y "A”_ 1.16 _ Depos Ins Shrs "A"_ 2.28 _ Diversified Tr C _ 2.90 Diversified Tr D_ 4.50 5.15 Dividend Shrs .89 .98 Eaton & How Fund "A-l”__ 14.78 15.87 Equity Corp $3 Pf_ 20.50 21.50 Fidelity Fund Inc_13.63 14.67 •First Boston Corp_11.50 13.00 First Mutual Tr Fd_ 5.02 6.57 Fiscal Fund Bk Sh_ 1.98 2.23 Fiscal Fund Ins _ 2.60 3.03 Fixed Trust Sh A_ 7.64 Found Tr ah A. _ 3.25 3.75 Fund Investors Inc_12.73 13.84 Fund Tr Shrs A_ 3.98 4.69 Fund Tr Shrs B _ 3.82 Oen Capital Corp_ 22.19 23.86' Gen Investors Tr _ 3.96 4.31 Group Sec Agricultural_ 3.85 4.20 Group Sec Automobile_ 3.11 3.40 Group Sec Aviation_ 7.24 7.87 Group 8ec Building_ 4.20 4.68 Group Sec Chemical_ 5.60 6.10 Group Sec Foods _ 3.48 3.80 Group Sec Invest Shrs __ 2.20 2.41 Group Sec M'ehandlslnt_ 3.95 4.31 Group Sec Mining _ 4.28 4.67 Group Sec. Petroleum_ 3.31 3.61 Group Sec R R Equip_ 2.65 2.90 Group Sec Steel_ 4.06 4.43 Group Sec Tobacco_ 4.36 4.76 Incorp Investors_11.72 12.60 Independence Tr Sh_ 1.72 _ Instl Sec Bank Group_ .82 .91 Instl Sec Insurance_ 1.01 1.1.3 Investors Fd "C" Ino_ 7.58 8.10 Keystone Custodn B 1_ 24.48 28.73 Keystone Custodn B 2_16.96 18.59 Keystone Custodn B 3_11.39 12.50 Keystone Custodn B 4_ 5.42 5.97 Keystone Custodn K 1_11.97 13.13 Keystone Custodn K 2_ 8.33 8.98 Keystone Custodn 8 2_ 9.64 10.63 Keystone Custodn 8 3_ 6.27 6.94 Keystone Custodn S 4_ 2.48 2 80 Manhat Bond Fund_ 5.43 6.01 Maryland Fund__ 3.15 4 20 Mass Invest Tr_15.76 16.95 Mutual Invest s nn «tt Nation wide sec sm Nation Wide Voting- .91 1.04 Natl Investors - 4.78 6.07 New England Fund_ 9.21 9.93 N Y Stocks Automobile- 3.52 3.82 N Y Stocks Aviation- 9.61 10.28 N Y Stocks Bk Stocks_ 6.59 7.14 N Y Stocks Bldg Supply- 4.05 4.40 N Y Stocks Chemical_ 7.24 7.84 N Y Stocks Elec Eaulp_ 5.57 8.04 S S StW*8 BMUianee- 7.93 8.68 N Y Stocks Machinery- 6.97 6.47 N Y Stocks Oils- 6.40 5.88 N Y Stocks Railroad_ 1.95 2.11 N Y Stocks R R Equip_ 4.19 4.55 N Y Stocks Steel_ 5.02 5.45 Nor Am Bond Tr ctfs_ 43.00 _ Nor Am Tr Sh 1953 _ 1.66 _ Nor Am Tr Sh 1955 _ 2.35 _ Nor Am Tr Sh 1956 _ 2.20 _ Nor Am Tr Sh 1958 _ 2.00 _ Plymouth Fund Inc_ .27 32 Putnam (Gi Fund_ 11.26 12 04 Quarterly Income Sh_ 6.30 6 25 •Schoellkopf-Hut A Pom_ .25 1.00 Selected Am Sh Inc_ 6.74 7,34 Selected Income Sh_ 3.43 Sovereign Invest_ .49 .54 Spencer Trask Fund_11.98 12 72 Stand Util Inc_ .15 oS •State Street Invest_54.no 57.75 8uper of Am Tr A_ 2.84 _ _ Suoer of Am Tr B_ 2.98 Super of Am Tr A A_ 2.06 _ Supervised Shrs- 7.42 8.07 . •Trustee Stand Inv C_ 2.00 2.10 •Trustee Stand Inv D- 1.94 2.04 •Trustee St Oil Shrs A_ 4.45 •Trustee St Oil Shrs B_ 3.98 _ Trusteed Am Bk B_ .48 .53' Trusteed Industry Shrs_ .63 .71 Wellington Fund_11.00 12.13 Quotations furnished by National As sociation of Securities Dealers, Ine.. which states they do not necessarily reflect actual transactions or firm bids or offers, but should Indicate approximate priest, and unless otherwise Indicated, are aa quoted by the sponsors or lseuers. •Not quoted by sponger* or lseuers.” London Money Rates LONDON. Max 22 «■>.—Money 1 per cent. Dlieount rates: Short bills. 11/32 1 A* London Metal Prices LONDON. May 22 UP).—Tin steady: spot. £270 5s bid. £270 16s asked: future, £268 bid. £268 6s asked. NEW YORK STOCK EXCHANGE (Continued From Page a-18.) " Pm. 1940 stock and Sale*— Ret. Hich Low. Dividend Rata Add 00. Rich Low Close chca 85% 60 Unltad Fruit 14)... 16 61 60 60%-% 15 10% United Oaa Imp Of -67 10% 10% 10% 117% 110 Unit Oaa Imp pf 4$) 1 108% 108% 108% -1% 13% 7 Unit Mer * Uf« 50e 13 6% 6% 6% - % 7% 8 United Paperboard 11 3% 3 8% + % 10% 5 US Distributing pf 80s 5% 5% 5% 7% 3% U S A For'n Secur 1 8% 6% 3% 4- % 97 80 U 8 A For 8e« pf (6) 1 82 82 82 -5% 10% 5% U 8 Freight 4 25e). 9 6 6% 6 + % 89 60% U 8 Uvpsum )2) . 3 60 58% 68% -1% 181 171 U 8 Qypaum pf 47). 60s 170 170 170 -1 6% 2% U 8 Hoffman ... 9 3 2% • 3 + % 28 14 U 8 Indus Alcohol.. 20 16 16 15% + % 7% 8% U 8 Leather — 12 8% 3% 3% + % 12% 6 U 8 Leather I A)... 15 7 6% 6% + % 38% 22 U 8 Pipe A Fdry 41) 9 24 22% 23%+% 89 84 U 8 PlayCarda (2a) 2 88 82% 82%-1% 1% % U 8 Kealty A lmir) 8 A A A+A 41% 15 US Rubber .. 137 17% 15% 16% + % 117 70% US Rub let pf (8). 8 73 68% 78 +2% 65 42% U 8 8m A Ref (te). 11 42 40 40%-2% 70% 61 U 6 8m A R pf 8.60. 1 60 60 60 -1 68% 42 US Steel (le)- 649 45% 48% 48%-% 124% 103% U S Steel pf (7) .. 12 107% 106 106% +2% 39V* 32 U S Tobacco (1.28). 4 32% 32% 82% 2% 1% Unit Stockyards ... 16 1% 1% 1% 7% 6% Unit Stockyds pf.70 4 6% 6% 6 - % 2% l Unit Stores <A)_ 26 1% 1 1% + % 61 54 Unit Stores pf_ 1 43 43 43 -12% 112 60 Unlv Plctur let Df— 20s 65 62% 65 + 6 % % Vadsco Sales_ 1 $, £ 4*4 43% 26% Vanadium - 102 29%' 26% 26%-1% 39% 24 Van Raalte (la)_ 2 28 23 23 -1 49% 37 VlckCbamlcal (la) 1 87 37 87 4% 1% Va-CaroChem ._ 11 2 1% 2 *11% 14% Va-CaroChem pf .. 6 15 14 15 + % 100 . 80% Vulcan Dattn 4.60a. 80s 78% 77 77 —8% 1% % Wabash tr) _ 2 % 41 £ - 4 2% % Wabash pf U)(rl 7 % % % 7% 5% Waldorf System 60 8 5% 6% 5% + % 23% 16% Walgreen (1.60)... 7 16% 16% 16% - % 35% id Walker (H> 10 20 18% 20 + 1 6% 3% Walworth Co __ 66 3% 8 3% - % 9% 3% Ward Baking (A).. 4 4% 3% 4% + % 1% % Ward Baking (B).. 10 % % %-% 4% 2* Warner Bros PIct 66 2% 2 2% 50 32 Warner Bros Pic pf 190s 32 30 30 -2 2 % Warren Bros (r) ..27 % % % + y4 31% 22% Warren Fy 4k P (2). 2 23 % 23% 23%+% 20% 13V* Waukesha Mot (1). 2 13% 13% 13% + % 24 14 Wayne Pump (lo). 2 15% 15% 15%+1% Pw. 1940 Stock and Balsa— Rat Blah Low Dividend Rat* Add 00. Blch Low Close, cbae 44 24 Wabatar Blaaniohr. 6 24 24 24 *94 164 Waaaon Oti 4k Snow. 9 16 164 164+4 106 964 WaetPann Bpf <6) 20a 944 944 944-1 116 98 WaatPann Bpf (T) 110a 100 964 98 1184110 W Pann Pw pf 4.66 1 109 109 109 -8 264 11 W Va Pulp ft P .25*. 8 184 12 18 404 22 Wsst'n AutoS <>).. 6 24 224 24 +14 6 24 Waat'n Maryland.. 16 3 24 3 + 4 l 4 Waat'n Paolfle pf... 2 £ * A 284 144 Waat'n Union Tal.. 81 16 144 164 + 4 284 164 Waath'aa A B »0a . 44 174 164 17 118 76 Weathaa Elae 1.75a 39 834 81 884 +14 138 110 Weathae El pf<* 69 70a 1104 1104 1104 + 4 374 26 Weston El Inst (2). 11 304 274 304 +84 384 274 Waatvaeo (1.40) . 6 284 28 2(4 + 4 394 284 Waatvaeo pf (1.40).' 2 304 294 304+14 '354 184 Whaalln* Staal- 42 204 184 194 +4 134 74 Whlta Motor ...- 34 84 74 74 -4 114 44 White Roek_ 12 64 6 64+4 74 34 Whlta Sawing Meb. 23 34 34 84 -4 244 15 Whlta S M prpf <2) 2 15 144 15 34 14 Wllcos Oil * O 10a. 3 2 14 14 - 4 34 14 WUlyo-Orarland .. 68 24 24 24+4 64 3 WtUys-Oyarl’d pf.. 23 4 3% 34 + 4 74 34 Wilson A Co - 42 4 84 34 274 154 Woodward Iron_ 23 17 164 164 — 4 424 80 Woolworth <3.40).. 33 314 304 314 +14 244 134 Worthington Pump 29 164 14 144 + 4 71 62 Worth Pump pf A-* 10a 60 60 60 -2 48 334 Worth Pump pr pf. 1 304 304 304 -3 129 95 Wright Aaro <Ig)._ 60s 102 99 102 +7 93 734 Wriglay <SaI.. 1 74 74 74 +4 26 17 Tala*Towns (.60). 1 164 164 164 -4 194 94 Tallow Truck .. 136 1*4 104 11 +4 124 1164 Tallow Tr’k pf (7).. 60s 100 100 100 -15 14 64 Touna Spg * Wire 11 74 64 74+4 484 284 T8 • t wn 8h A T *5*' 85 314 294 304 + 4 284 124 Tgatwn Steel D .50s 12 15 124 144 +14 174 84 Zanlth Radio (la) . 26 9 4 84 94+4 44 2 Zonlta Products ... 12 24 24 24 +4 Approximate Sales of Stocks on the N. Y. Stock Exchange 11:00 A.M. 780.000 11:00 Noon 1.200.000 1:00 P.M. 1,420.000 1:00 P.M .. 1,690.000 Total Sales for the day 2,180.000 spall of (radios to wares t In Bankruptcy or receivsrwio or Belni reorcanlied under Bankruptcy act. or sacurltle* aaaumed By such companies Rat*i ol dividend in the loresoina taste are annual dla Bursementa baaed on the last ouarterly or semi-annual declara tion Daises otherwise noted special or extra dividend! are not included i Bx dividend *r Bx ntnta a Also, extra or extrxa d Accumulated dividend! paid laat star a Declared or paid eo far thla year f Payabla In itock c Paid laat rear b Caab or •rock k Accumulated dividend! Bald or declared thla vaar United Stockyards Net For Half Year Is $206,203 By the Associated Press. CHICAGO, May 22. — Unitea Stockyards Corp. and subsidiaries today reported for the six months ended April 30, 1940, consolidated net income of $206,203, equal after preferred dividend requirements to 15 cents a share on 374,000 shares of common stock. This compared with $173,659, or 5 cents a common share, in the corresponding period a year ago. Chicago Stock Market CHICAGO. May 22 (AV—Following Is the complete list of transactions on the Chicago Stock Market today: Sales. High. 150 Abbot Lab _ S3 «o Acme Steel __ 36% 850 Advance Alum_ 2’Z 6o Aetna B Bear_ 100 Allied Lab _ 100 Allls-Ch Mfg ... 2._ _ 125.1 Am Tel Sc Tel... 140% 148% 148V 2200 Armour Sc Co_ 4% 4 47l 250 Aro Eouip _ 12 11% 11% 400 Asbestos Mfe_ % % % 400 Aviation Corn_ 8 5% 6% 55o Avia Sc Trans_ 2% 2% 2% 10 Backstay-Welt . 4% 4% 4% 50 Barber (W H) Co 15% 15% 15% 50 Barlow Sc Seellg A 8% 8% 8’, 100 Baslian-Bless .. 13 13 13 250 Belmont Radio.. 3% 3% 3% 250 BendiX Av ... 27% 26% 27% 250 Berghofl Brew __ 0 8% 8 100 Bliss & Laughlin. 14% 13% 14% 650 Bore-Warner ... 14% 14 14V, 100 Brown F Sc W... 2% 2% 27k 200 Bruce IIL)_ 6 8 8 1100 Butler Bros_ 4% 4% 4% 100 Campbell Wyant. 12 12 12 50 Castle AM 14% 14% 14% 70 Cen 111 Pub Svc pi 75 73% 737a 500 Cen 111 8eo pf... 5% 5% 6% 2100 Chi Corp _ % % % 350 Chi Corp pf_ 27 27 27 40 Chi Towel pf_108% 108% 1087k 33Chi Yell Cab_ 8% 7% 87. 400 Chrysler Corp. 68% 58% 67% 26 Colemin L Sc S-. 30 30 30 3900 Com'wlth Kdis .. 28% 26V« 26% 260 Compress Ind Gas' 10 10 10 700 Cops OU ■, _ 5% 6% 6% TOCopaumeri Co pf. tig 2% 27a 200 Container Corp . 11% 10% 117. 80 Cont Steel _ 18% 18% 18% 86 Crane Co - 14% 147. 14% 350 Dayton Rubber.. 9% 9 3% 126 Deere Sc Co_ 15 1.3% 15 10 De Mets pf_ 97i 9% 9 Vi 100 Eddy Paper . 11% 11% 11% 100 El Household .. 37k 37k 3 % 300 Elgin Nat Watch 22% 22 22 46 Fairbanks Morse. 31V. 31V. 31% 100 Fuller Mfe . 3% 3% 3% 50 Gerdner-Denver _< 16V. 16% 15% - 300 Gen Am Trans—. 37 . 37 37 400 Gen Finance - 1% 1% 1% 152 Gen Foods _ 37% 36% 37% 950 Gen Motors _ 40% 39% 397. 60 Gen Out Advt__ 3% 3% 3si 150 Gillette Saf R . 4% 4% 4% 277 Goodyear T * R. 13% 12% 12% 200 Gossard IHW) . 9% 9% 9% 800 Gt Lakes Dredge. 18% 177. 18% 125 Hall Print _ 10% 107, jo% 10 Hamilton Mfg A 7 7 7 400 Heileman IG) Br 8% 8 8 50 Heln-Wer Mot P_ 7% 7% 7% 150 Hlbb Spen Bart_38% 36 38 250 Houd-Hcr B .. 9% 9 9% 100 111 Brick _ 2% 2% 2% 150 111 Cent R R .. 6% 6% 6% 100 Ind Pneu Tool.. 19 19 19 129 Inland Steel ... 67% 67% 67% 60 Int Harvester_42V. 42V. 42% 600 Jarvis (WB)_ 9% 9% 97k 200 Katz Drug __ 4% 4% 4V. 200 Ken-Rad T A L 3% 3% 3% 30 Ky Ut Jr cum pf 39% 38% 39% 150 La Salle Ext ... 1% 1% IV. 150 Leath & Co _ 3 3 3 500 Lib-McN Sc L 5 5 6 50 Lincoln Print .. 1% 1% 1% 30 Lincoln Print pf.. 21% 21% 21% 950 Lindsay Lt _ 5%. 4% 5V, 50 Lion Oil Ref_ 9 9 9 1200 Marsh Field . _ 97. 8% 9% 300 Merch Sc Mfrs A . 3% 37k 3% 20 Merch Sr Mfrspf. 25% 257, 25% 300 Mickelberry’s Fd- 3% 3Vi 3% 2700 Mid West Corp.. 6% 5V. 5% 500 Midland Unit .. 7. 7. % 100 Midland Unit pf_. 27a 2% 27. 550 Montg Ward ... 3ft 32% 347k 100 Nachman-Bprg_ 7% 7% 7% 200 Nat-Stand _ 23 23 23 150 Noblitt-Sparks _ 22 22 22 400 Nor Am Car .1 3% 3% 3% 150 Nor 111 Finance 10% 1074 10% 300 Nor’west Bancorp 8 8 8 200 Penn R R 167. 1574 187, 96 Peoples Gas L Sc C 26% 26 26 60 Perfect Circle ... 23V. 237. 23% 60 Poor A Co B_ 8 5% 8 660 Pressed Stl Car.. 7% 7 7% 250 Quaker Oats 105 100 105 200 Schwitzer Cumm 6 6 6 260 Sears Roeb 637. 63 637k ISOSerrick Corp B . 1% 1% 1% 200 So Bend L Wks 21% 217. 21% 100 South Colo Pow A 17. 17k 17. 300 Spiegel Inc_, 6% 6 5% 400 Std Dredg _^ l 1 1 500 Std Dredg pf_ 8% 8 8% 200 Std °U Ind ... 2174 21% 21% 30 Stein (A) Sc Co._ 10 10 10 310 Stewart-Warn 4% 4% 4% 250 Sunstrand M Tool 22 21 22 25!! fw!2 * CO- 18% 18% 18% 950 Swift Int __ 197. 18 19 297 Texas Corn _ 35>.k 33% 34% 760 Thompson (J R)_ 47k 47, 47k 100 Union Carbide __ 65 65 05 100 Unit Air Lines — 12% 12% 12% 1 <2?DS,um- 8fi* 16Q0U 8 Steel _ 45% 43% 43% o£2 K. su l,tes! nf—10T*10B*io«h 200 Utah Radio_ 111 42L‘ Wahtreen - 16% 16% 16% io53!*y.nS. P!i.m,>- 16* IS* 15% 1 J8 West Un Tel . IB 14% 15% ♦2 WesUngh Bl & M 837k 81% 837. W eboldt Sirs __ 4% 4% 47. 100 Wise Bankshrs_ 4 4 4 220 Wrlgley (W> Jr ._ 74% 73% 747a 1800 Zenith Rad S% 8% 97* $3000 C Ed deb 3%s 58 1107. 1107« 1107. Stock gales today. 63.000 shares. Bond sales today. $3,000. Foreign Markets - t/)NDON. May 22 (/Pi.—Securities prices took a turn Jor the better late today after severe moraine losses as a result of ' "grave" war news, under leadership of govern ment bonds, the entire list started to rally ?ft*r rS52TJ* j of„ stench recapture of Arras. While declines were the rule at the finish. such severe losses as lVt points in the gilt-edged list were almost entirely canceled. Domestic rails came back sub stantially and Kafirs made a good show ing. Most foreign Issues remained under pressure. PARIS. May 22 UFi.—Bourse prices fluc tuated irregularly lower. Traders were calm despite the revelations made by Premier Reynsud to the French Senate Tuesday. The Italian situation was viewed with more ontlmlsm and Sues Canal shares improved. Rentes closed 35 to 286 cen times lower. Oains predominated among foreign issues but the domestic group was generally lower. i Turkey bought 34 American air planes in a recent month. United States Treasury Position By the Associated Frees. The position of the Treasury May 20 compared with comparable date a year aco: May 20. 1040. May 20. 1030, Receipts- $17,776,841.00 $10,722,78*51 Expenditures- 37.108,003.56 24.248J02.38 »et balance---- - 2,048.638,346.80 3,002,405.520.06 , Working balance included--- 1.322.084,546.37 2.334,706,266.031 Customs receipts for month—___ 17 187,811.60 16,761.186.72 Receipts for fiscal year (July 1)__-. 5,050,851.786 62 4.070,840,108.66 Expenditures___ 8.401,266.180.07 8.074.806.664.16 Excess of expenditures_....._.... 3.341,414,403.35 5.103,067.460.50 }rosa debt_ 42,771.680.004.21 40.227,561,608.74 Increase over previous day____ 1,306.747.61 __ Sold assets- lt.048.473.14S.lt 15,006,260,707.51 i 1 Chicago Grain By the Associated Pres*. CHICAGO, May 22.—Wheat prices scored net gains amounting to more than 2 cents a bushel at one stage today, but lost about hall of this advance before the close. The better tone of securities and reports of some success in allied counter-attacks imparted strength to the grain market. May wheat ran up as much as 2% cents just before the close to 85'/2 as previous “short" sellers evened-up accounts This was the last session in which trading in these contracts could be done. Wheat closed *4-2*4 cents higher than yesterday, May 85-85>/2, July 83%-83; com % lower to 1 cent higher. May 64-64%, July 62%-62%; Oats %-% lower. WHEAT— Open. High. Low. Close. M»y -.83 .88% 83 .86-85 V, July -.82 V« .84% .82 .83V«-83 Sep ... .82 .84% .82 .83%-83 CORN— May -.82 .84% .82 .84-64% July -.61% .83% .61% .82%-% Seo. _... .60% .62% .80% .61% OATS—’ May -.38% .38% .37% .37% July -.34% .34% .33% .33% ""boy beans!* 32v‘ 31 v* -31’ May .81% .91% July -.89*4 .89% .88% .89% Oct .77*4 .77 Vi .77 .77 RYE— May -.45% .46 .45% .46 July -.48% .47% ,46% .47% -48% -4®% •« Vi .49 LARD— May - 4.82 5.10 4.82 5 10 July - 4.87 6.25 4.87 5.25 Sen . 5.10 5 47 6 10 5.45-47 Oct _ 6.20 6.56 6.20 6 56 Dec_ 6.30 6.66 6.80 6.66 BBT I.TEB July - 5 25 5.50 6.20 5 50 Bep. 6.20 6.35 6 20 6.36 Chi cage Caah Market. No cash wheat aalea. Com. No. 1 yellow, 67%-6B. 0<ts. No. 2 mixed. 35%; No. 4 white. 37: aample grade, white. 36. Barley, malting. 53-86. nominal: feed. 40-50, nominal: No. 4 barley. 61. „,?°T * reuow, 92%; No. 3. 91%; No. «, 91%. WINNIPEG, May*?? UPV^^Oratn futures range today: Prev. WHEAT— High. Low. Cloae. close. May -.72% .71 .71% ,70*. July ..73% .72 .72% .71% October .76 .74% .74% .74% OATS— May --.,34 .33% ,33Vi .3314 WiitniDtf Cftah Prices. Wheat. No. 1 Northern. 71%*: No. 2. 68*»; No. 3. 65*,. Oats, No. 2 white. 3$*; No. 3. 32. Baltimore Quotation. BALTIMORE. May 22 (AY—Wheat. No. 2 red winter, garlicky, spot, domestic, 1.03*. _ Commodity Prices NEW YORK. May 22 —The Associated Press weighted wholesale price Index of 35 commodities today declined to 71.50 (new 1940 low). Previous day. 71.90: week ago. 72.79; month ago. 74.24; year ago. 86.95. 1940. 1939. 1938 1933-37. High 75.29 75.22 74.37 98.14 Low ... 71.50 63-78 63.86 41.44 (1926 average equals 100.) _Miscellaneous Markets. _ COFFEE—Spot quiet: Santos No. 4. 7V«; Rio No. 7. 5V«. Cost and freight offerings included 8antos Bourbon 3s and 5s at 6.40-7.00. Santos No. 4 “D” futures closed 3-4 higher. Sales. 500 bags. May, 5.51b; July. 5.62b; September. 5.73b. . R'o No 7 "A” futures unchanged Sales. ber )“’h May’ 3 70b; Ju y *nd 8*Dtem CRUDE RUBBER—Futures closed 30-64 ■ower. gales, No. 1 standard. 208 con tracts. May. 20.10b; July, 19.04-08; Sep tember 17.60-65. ribb*,£. «>ot. 20.75n. RAW SILK—Futures No. 1 closed 1 * hl,l?er.i MO bales. July, 2.62 August, 2.68V4b; September 2.58* D Bln unchanged to 1 Jjwer _ _8«les. 180,000 pounds. Septem tlnfutures 50 lower to 25 higher. Sal**' 67,200 pounds. June, 61.76; July, oi.oun. Nosalesinsinc futures. . , RAW HIDES—Futures closed 3 to 19 n Sal**’ 20,520.000 pounds. June, 9 '^8*Pt«,nb«h » 90-92: December. 10.08. 9’an01 "°‘ * Western light native cows, . Wp®’:' ,2P!?sr-p“‘ur;» extended yester day s losses today and closed 14 to 25 points lower on a turnover estimated dose to .,000.000 pounds. Commission house and. Boston selling checked an early ad I55C£;J,UL bi?,ln? bZ loc*l' professionals and some commission house covering caused So ,5h^tiTL.^ec?.v*r, JulT- 65.0; October. Irntb'o-Fn“Tw*rV -63.1b. Spot,, standard toPSj93.0; off 1.0. COCOA—Futures closed 8 to 9 higher. ?ales, 3.83. tons. May, 4.55n; July, 4.59n: September. 4.64. b Bid. n Nominal. Baltimore Stocks By the Associated Pi-ess. BALTIMORE. May 22.—' Sales. STOCKS. Low. Close 510 Arundel Corp _ 12% io% 03 Consol Pow com 60 Eastern Suit pf VT 105 Fidelity ft Deposit 278 Finance Amer A 44 Mont W P 8 7% 70 Mt Ver W Mis pfd 10 Northern Central _ 160 New Amster Cas 50 Pa water ft Pow 1604 V 8 Fidel ft Ouar 160 Western Natl Bk BONDS. >7600 Balto Tr deb 4s A .26 26y« >3000 Finance Co Am 4s 103 108 Money for Construction Loam and Loans on Completed Properties . (Owner occupied or rental) Favorably Roto run okkd os nusi onli GEORGE I. BORGER V v Insurance Stocks YORK, May 22 (84.—Association of Securities Dealers. Inc.: Aetna Cas (4a)- 92% 98 Aetna Ins (1.80a)_ 39% 41% Aetna Life (1.20a)_ 23% 25% Am Eqult (1)_ 10% 17% Am Ins Nwk (%a)- 9% 11% Am Reins (l.flOl_ 33 30 Am Reserve (1%)_ 10 ]8 Am Surety (2%)_ 41 43 Automobile (la) _ 31V, 33V, Balt Amer ( 20a)_ 5% o% Boston (16a) - 550 570 Carolina (1.30)_ 25% 27% city of n y U.20)20 Conn Gen Llf (.80) __ 23% 25% Opntin Caa (1.20) __ 28 30 Fid A Dep (4)- 92 99 Firem s Nwk (.40)_ 7% 8V, Frank Fire (la)- 24V, 254, Gen Relnsur (la)_ 33 35 Geort Home (la)- 23% 2*% Glens Falls (1.00)_ 34% 35% Gohe A Rep (%)- 7% 8'/, Olobe A Rut_ 11 14% Ot Amer Ins (la)_ 20 21% Hanover (1.20) _ 20% 22 Hartford Fire (2a)_ 69% 71V, Home Fire See___ 1% 2% Home Ini (1.20a)- 254, 27% Homestead (1) - 17 1*% Knickerbocker (%)_ 7 8 Lincoln Fire_ IV, 2% Maryland Cas_ 1 % <*% Mass Bond <3%>- 53% 57% Natl Fire (2)_ 49 61% Natl Liberty (,20ai. 0 1 New Amster Cas (V,)_ 11% i;iv, N Hampshire il.OOa)_ 39% 44% N Y Fire ( 30)- 12% 1*44 Nor East Ins_ 2 3 Nor River (1)_ 20% 22 Phoenix (2a)- 70% 72% Prov Wash da)- 28% 30% Rep Ins Tex d.20a)_ 22 -'3% Revere (P) In (1.20a)_ 21 2,’4i Rh Is! Ins_ 2% 4 St Paul Fire (8)_ 217 228 Snrlneffeld (4%a) - 97% 103 8un Life (15)_ 240 290 Sr»»e|ers 06)- 390 400 v I pi?*4,-?. Westchester 11.20a)_ 28 29',4 a Also extra or extraa, G**National Asso c a ion of Securities Dealers, Inc., which states they do not necessarily reflect actual transactions or Arm bids or offers, but should Indicate approximate prices. “ ' —— , New York Sugar NEW YORK. May 22 (^.—Producer sellina and speculative liquidation forced world sucar futures lower today. Prices recovered part of early losses In mtdsfter noon on new buylnc throuxh commission house accounts and ranted 1% to 5% points lower: July. 1.07: September. 1.05%. Domestic futures followed a similar pat }**■■ Hedte sellina and professional liquidation found trade demand improved at the Iowa. Quotations Unproved In the early afternoon, but were still 1 t" 7 points below the previous • close. July traded at I.77i September. 1.84. Raw sutar .was quiet. Available offer inks were limited. Cubas for June ship ment were offered at, 2.85 oents, duty paid, while a parcel of Puerto Ricos in port was available at the same level. Refined continued at 4.50 cents. Futures No. 3 closed 3-6 lower. Bales, 48.100 tons. „ Hlah. Low. Close. May -1.72 1.71 1.71b July - 1.79 1.71 1.77b Bert. 1.84 1.74 1.82b No. 4 futures 1-7 lower. Sales. 34.950 tons. July --1.08% 1.01% 1.05%b Sept.- 1.07 .97% 1.04b Dee. - 1.09 1.04 1.05%b b Bid. New York Bank Stocks NEW YORK. May 22 API.—National As sociation Securities Dealers, Inc., bank and trust division. Bid. Asked. Bk of Am NT8 (8F) (2.40).. 32 34 ■ Bank of Man (,80a)_ 12% 14% Bank of N Y (14)_ 333 ,338 Bankers Tr (2)- 43% 46% Bklyn Tr (4)_ 86 70 Cen Han Bk ft Tr (4)_ 79 82 Chase Nat (1.40)_ 26% 28% Chem Bk ft Tr (1.80)_ 38% any. Commercial (8)_180 168 Cont Bk ft Tr (.80)_ 9% 11% Com Ex Bk ft T (3)_ 43% 46 Empire Tr (.00)- 8% 9% First Nat (Bos) (2)_ 37% 39% First Natl (100)-1515 1556 Guaranty Tr (12)_ 228 233 Irving Tr (.80)_ 9y« 10V* Manufacturers Trust (2)_ 29 30% Manufacturers Tr pf (2)_ 49% 51% Natl City (1)_ 21 22% N Y Trust (6)- 89% 92% PubHc (1%)- 24% 253, Title G ft T __ 2 3 Odd-Lot Dealings The Securities and Exchange Commis sion reported today these transactions by customers with odd-lot dealers or special ists on the New York Stock Sxchange for May 21: 21.739 .purchases, involving 677.107 shares: 16.263 sales. Involving 468.816 shares. Including 233 short sales involving 7.300 shares. mmm IW, REALTORS SINCE lilt FOR MORTGAGES ON LARGE PROPERTIES WEAVER BRO$»k WASHINGTON IUILDING - DISTRICT SSOO •v. Steel Sales in Nay Expected to Double Figures for April Heavier Domestic Buying And Allied Purchases Spur Production •f the Auochted Fr«u. NEW YORK, May 22.—Steel Mies in May will double April as a result of heavier domestic buying, allied purchases of nearly 500,000 tons and good orders from other foreign buyers, Iron age said today in a weekly survey. Steel ingot output rose to 74 per cent of capacity for the current week, highest since late January. At the same time, the steel maga zine declared, "steel users are not being stampeded, as they were last fall. "Despite the probability that a steel shortage could easily occur by midsummer if the war continues, German successes have had a re straining effect on a good many buyers, who are not anxious to build up inventories that would be bur densome in the event of an early termination of the war.” "Allied steel purchases total about half a million tons, part of which is in the form of ingots and semi finished steel and the remainder is finished steel, which includes a large tonnage of ship plates and moderate quantities of shell steel for France. "Steel companies expect thait allied purchases, direct and indirect, may run as much as 500,000 tons a month for the duration of the war. “The defense program of the United States has not yet proceeded far enough to become a factor in steel trade, except that some items which are already scheduled are being hastened.” Bar Silver Price Breaks In London ti the Auoelsted Frets. LONDON, May 22.—Bar silver dropped 1% pence an ounce today to 21 3-16 pence, equivalent to 38.42 cents an ounce based on the official quotation of $4 03 for the pound sterling. Some New York silver dealers at tributed the break in the London bar silver price to reports the Brit ish authorities would require export purchases of the metal to be paid for at the official exchange rate rather than the open-market quota tion, which now is far below the official $4.03 price. The London silver price, one dealer said, probably was adjusted chiefly with reference to the price of the metal in India and the difference in exchange rates. New York, it was said, has paid little attention to the London mar ket for some time because war time unsettlement has ruled out arbitrage operations. The New York Silver, price has been around 35 cents. ’ ' < Distribution Ordered NEW YORK, May 22 (Special) — Directors of Supervised Shares, Inc.,’ have declared a distribution at the rate of 10 cents a share, payable June 20, 1940, to shareholders of record May 31, 1940. This distribu tion is from Investment income on securities owned for the quarter ending May 31 and is at the same rate as the last quarterly distribu tion on March 20. For QUALITY 24-Hr. Day Sorvico in Lmttmrprmt* or Off rot PRINTING ... A staff at skilled experts operating one of I k the largest plants in the I \ east Is poor assoranee of A «V Isaprored work. ^P Lincoln 6060 MONEY for construction loans and term loans from S to 5 years In D. C and nearby Virginia and Maryland. REAL ESTATE MORTGAGE AND,GUARANTY CORP. 1610 K St. N.W. NAtionml 1403 Glenn L. Martin Co. Reports $2,162,669 Net in Quarter Result Contrasts With $632,496 Recorded in Same 1939 Period By the Associated Press. BALTIMORE. May 22.—Glenn L. Martin Co. reported March quar ter profits of 12,162,060, compared with $632,406 for the March quarter last year. The company’s unfilled orders totaled $02,016,023 at the aid of the quarter. The earnings were equal to $1117 a share on capital stock, against 63 cents a share in the 1030 period. Sales for the quarter amounted to $8,011,303, against $3,540,511 in the same period last year. In addition to the reported un filled orders, said Glenn L. Martin, president, there is “an undisclosed number of dollars and an undis closed number of airplanes which embraces the plant’s capacity for the next 18 months on a new type airplane” under a contract with the Anglo-French Purchasing Commis sion. Boston Wool Market BOSTON. May 22 i/n (United States Department of Agriculture).—The Boston wool market has been thrown into a state of extreme confusion by the sharp break in prices of wool top futures of yester day. The decline in futures has made it possible to sell hedged wools at consider ably lower prices than have recently been auoted in Boston The actual effect of the ecline in futures, however, remained in doubt because of the reluctance of users to make commitments in wool under the existing demoralized condition of the wool market. Insurance^ > 4 i / «• Ml rM M \ l """ W | I We Are Proud of Our Depositors f When you establish a Checking Account with The Second National Bank—-its wide local, | intercity, interstate, international facilities | ore at your service. | I There is real moaning in its motto—the | "Friendly Bank"—with two convenient Bank ing Offices. The Second National Bank 0( Washington J 1333 G St. N.W. 509 Seventh St. N.W. Organized 1H72 D Member Federal Deposit lnsoranee Corporation || « Mortgage Loans HOUSES APARTMENTS BUSINESS PROPERTIES Randall H. Hagnsr A Company meoKMuno •• • MODTOAOD COBUBfONDINT • '» • ^ • • 1321 Connecticut Ave. N.W. Telephone DEcatur 3600 •j: •jf ON IMPROVED D. C. AND NEARBY MARYLAND PROPERTY i For buying, rebuilding or refinancing at __ prevailing rates of interest. :|^ Loans repayable monthly. No charge for appraisal if loan is not made. Interest charged only on unpaid balance of principal. £ Equitable Co-operative Building Association 915 F ST. N.W. ORGANIZED 1079 - I REAL ESTATE LOAMS / ET us handle your reed estate \j and home loem financing. Applications considered on improved property, not only in Washington but in neenby Maryland and Virginia. There are no commissions or renewed charges. Interest only on unpaid balance of principcd monthly. * Many savin have accumulated substantial balances by regular additions to their share accounts with us. Commit omy of mm offieort tor inf ormotim. No obligation, of eomoo. mum uiilush msmihiii *H PENNSYLVANIA AVENUE S.E. LINCOLN MS* Office Hewn 9 to 4— Sdmrdmya 9 to 19 omcni: ■ILTBM N. PROSPCRI. Outran 1 Ban! CHARLES M. KIMBLE, PtaaMcat ARTHUR C. BALSER, Tlc«-PrMI<taM WILFRSB M. BLAME, Sacraan *•?*,l*°-ft-wsa. Tnu”m BUY I. RISLY, Cirajlaw MtilM DIRECTORS: iOHH E. MERSHER CHATHAM M. TOWERS •ERHARD i. OOYLE THOMAS S. SEROEOH CM AS. A. ROSSITER W. DUDLEY MICK HALL OR. WM. 0. FARMER _ Am*» mo now in imm of $12,90000000