%
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