Evening star. [volume] (Washington, D.C.) 1854-1972, July 08, 1940, Image 14

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Evening star. [volume], July 08, 1940, Page A-14, Image 14
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 08 July 1940. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1940-07-08/ed-1/seq-14/>

Newspaper Page Text

Utility Earnings
*
Make Fine Record
In Five Months
( f
Substantial Gains
Mean Satisfactory
First Half Year
Bv EDWARD C. STONE.
In the first five months of this
year earnings of three of Washing
ton's four big utilities corporations
scored generous gains over tire first
half of 1939. according to latest
reports filed with the Public Utilities
Commission.
The Washington Gas Light Co.
reported the largest income increase
over last year. Net revenues in the
five months amounted to $1,107,489,
compared with $953,778 in the like
1939 period, a sharp advance of
$153,711.
The Capital Transit Co. reported
the next best gain in the five months
when net income totaled $302,046.12,
against $248,912.56 a year ago. an
upswing of $53,133.56 or 21.3 per cent.
The Chesapeake & Potomac Tele
phone Co. pushed net earnings for
ward, reporting to the commission a
net income of $822,767 in the five
month period, against $782,003 in
1939. an increase of $40,764.
While the Potomac Electric Power
Co. failed to exceed last year's earn
ings mark, yet net income was larger
than recorded by any of the other
companies. The five months' net
revenues totaled $1,753,791.26, com
pared with S1.830,328.31, off $76,
747.24 or 4.19 per cent.
Favorable Half Year Seen.
The five months' record furnished
very cheerful reading. From the
figures, it can be seen that the half
year will be highly favorable. Three
concerns will top last year; the other
may reduce the decrease in June,
returns for that month not yet
being available.
Holders of the securities will gar
ner a lot of cheer from the first
half year results. At the same time
they are already looking for a
favorable third quarter.
While all four companies reported
higher expenses in the half year,
the figures show they were kept
wrell in hand. No doubt they will
be given the same scrutiny in the
third quarter.
In the first half of 1939 the Wash
ington Gas Light Co. reported a
gain of $245,000 over 1938, the Ches
apeake & Potomac Telephone Co.
upturn was $34,599, Capital Transit
net revenues moved from practically
nothing to $124,000. and Potomac
Pow'er reported a decrease of $18,000,
the records reveal.
Fast Presidents Listed.
For historical purposes, District
Bankers’ Association officials recent
ly compiled a list of past presidents
since organization. The list runs
from the first official in 1901, Thomas
Hyde, down to Ord Preston, who was
succeeded by A. M. McLachien at
the last convention. The honor roll
includes: 1901, Thomas Hyde; 1902,
F. C. Stevens; 1903. Charles J. Bell;
1904. John H Moore, Albion K. Par
ris: 1905, John Joy Edson; 1906, C,
F. Norment; 1907, W. V. Cox; 1908-9,
E. J. Stellwagen: 1910-11, W. A.
Mearns; 1912, George W. White;
1913. H. H. McKee; 1914, B. F. Saul;
1915. George E. Fleming: 1916, W. T.
Galliher; 1917. John Poole: 1918.
Corcoran Thom; 1919. Maurice D.
Rosenberg: 1920. Robert N. Harper;
1921. John B Lamer; 1922. Joshua
Evans, jr.; 1923, Harry V. Haynes;
1924, Victor B. Deyber; 1925. Francis
G. Addison, jr.; 1926, Howard Mo
ran: 1927, W. W. Spaid; 1928, Robert
V. Fleming; 1929, Wilmer J. Waller;
1930, Lanier P. McLachien; 1931, Ed
ward J. McQuade; 1932, C. H. Pope;
1933, George O. Vass; 1934, Frederick
P. H. Siddons; 1935. Charles H. Do
ing; 1936. Karl W. Corby; 1937,
Thomas J. Groom: 1938, Hilleary G.
Hoskinson; 1939. Ord Preston.
Bankers Start Vacations.
Howard Moran, vice president of
the American Security & Trust Co.,
is on his annual vacation. Robert
L. Flather. assistant secretary, and
Earl G. Jonscher, assistant trust
officer at the same bank, are also
on annual leave. Paul J. Seltzer,
assistant treasurer, who attended the
graduate school of banking at Rut
gers and spent an additional ^eek
around New York, was back at his
desk today.
B Gwynn Dent, assistant cashier
of the Riggs National Bank; J.
Byron Brooks, assistant cashier; R.
Earle Haycock, auditor, and Edwin
B. Shaw, assistant trust officer of
the same institution, are passing
their vacations at various resorts.
Irving Zirpel. secretary and as
sistant trust officer of the Union
Trust Co., is taking his annual vaca
tion, again going to Tall Timbers.
Md.
Brokers Note Summer Lull.
Summer conditions prevailed in
the New York Stock Exchange
boardrooms in the financial district
today. Brokers ascribed the light
trading to the "summer lull.” which
always slows up business in July,
but more especially to the foreign
situation and political uncertainties
Market observers believe both these
situations will have to clear up some
what before the market will again
get very active.
The foreign situation might change
suddenly and more information on
the home political outlook will come
to light in a few days, or before
the Democratic Convention opens
In Chicago, brokers pointed out.
Several market news letters today
suggested continued caution. The
opinion was expressed that business
indices will continue to remain
favorable for the present.
Heard in Financial District.
The Potomac Electric Power Co.
will use a portion of the proposed
issue of $10,000,000 first mortgage
34 per cent bonds, due 1974. for'
completion of the 50.000-kilowatt
turbo-generator at Buzzards Point
and for the construction of another
similar generator at the same plant.
Application for approval of the issue
is now before the Public Utilities
Commission.
Fifteen shares of Peoples Drug
Stores common stock opened trading
on the Washington Exchange to
day, selling at 184. up half a point
from the last previous sale.
Potomac Electric Power 5Vi per
cent preferred moved at 114 on a
light turnover, also up half a point
from last week's- close. Bonds were
neglected in today's market.
Chain drugstore sales were 14
higher in May than in May. 1939,
the Commerce Department reports,
while independent drugstore sales
were about 2 per cent ahead of last
year.
•
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
By Private Wire Direct te The Star.
Prev. 1940 Stock and Sale*— Met.
Hieh. Low Dividend Rate Add 00. High Low. Close, chge
70V* 60 Abbott Lab (1.60aj. l 684 564 684 +4
584 364 Air Reduction (la). 4 394 394 394 -4
7 4 Alaska Juneau 60.. 6 44 44 44
14 4 Alleghany Corn .. 7 4 4 4
144 54 Allegh’y 130 pf ww. 3 84 84 84 -4
264 154 Alleg-Ludlum 60e. 2 22 214 214 +4
182 1354 Allied Chemical (6) 1 1474 1474 1474 - 4
164 10 Allied Mills .76#.... 6 114 114 114-4
94 44 Allied Stores . 2 6 6 6
73 4 65 Allied Stores pf (5.) 1 59 59 59 +2
414 214 Allis-Chalmers .50# 10 294 294 29H — 4
24 14 Amalg Leather_ 1 14 14 14
584 384 Amerada (2)_ 2 45 444 44**— 4
75 414 Am Airlines _ 10 624 614 614 — 4
124 6 Am Bank Note_ 7 7 6-4 64 — V,
1164 87 Am Can ( 4) 1 954 954 954 + 4
334 18 Am Car & Foundry. 2 234 234 234 - 4
234 134 Am Chain &C 8Ue_. 1 19 19 19 — 4
24 1 Am & Foreign Pwr. 1 1** 14 14
504 23 Am-Hawaiian (la). 4 264 26 26 — 4
64 3 Am Hide & Leather. 1 44 44 44
664 454 Am Home Pr 2.40._ 1 524 524 624 +**
224 10 Am Locomotive_ 2 13 13 13 + 4
63 38 Am Loco pf (Ik) ... 1 45 45 45 — y*
144 10 Am Mach & Fy 80.. 1 114 114 114
25 124 Am Metals (le) ... 2 134 134 134 -14
54 2 Am Power* Light. 8 34 34 34
54 284 AP&L *6 pf 2.8125k 1 42 42 42 -14
104 44 Am Radiator _ 4 54 54 54
174 94 Am Rolling Mills .. 1 11 11 11
374 23 Am Ship Bldg (le).. 40g 27 27 27 - 4
54 304 Am Sm & Ref 1.50e. I 36 36 36 -4
334 194 Am Steel Fdry 60e. 1 23 4 23 4 234 - 4
144 94 Am Stores (.50e> . 3 124 114 124 + h
234 124 Am Sugar Refining. 1 134 134 134 + 4
18 114 Am Sumat Tob (1). 1 15 15 15 +14
1754 145 Am Tel & Teleg (9) 5 1604 1604 1604 - 4
54 24 Am Type Founders. 1 34 34 34
124 54 Am Water Works.. 9 9 84 9
12 6 Am Woolen . 1 84 84 84
524 254 Am Woolen pf (3k). 2 384 38 384 + 4
32 18 Anaconda (,75e)_ 14 I91* 194 194 - 4
74 4 Armour (111) 8 1** 44 44 + 4
11 64 Arnold Const .50e_ 1 74 74 74
94 3** Artloom Corp _ 1 44 44 4U — 4
9 44 Assoc Prv Goods 2 54 54 54
85 494 Assoc DG 2d 11.50k 1 61 61 61 +11
1004 82 Assoc Invest pf (5) 40s 87 864 87
254 13 Atch T & Santa Fe 5 164 164 164 -.4
574 394 Atch T& SFe pf(5e) 1 47 47 47
23 4 9** All Coast Line_ 1 11 ■* 114 11*. +
274 18V. Atl Refining (1)_ 4 214 214 214 - 4
54 14 Austin Nichols_ 3 24 24 24 - 4
84 44 Aviation Corp_ 11 • 44 44 44
194 12*. Baldwin Loco etfs . 6 144 144 144 + 4
64 24 Balto & Ohio 3 34 34 .34 + 4
524 34 Bangor & Ar pf (5). 40s 394 394 394
13". 74 Karnsdall Oil ,30e . 1 84 84 8** + 4
364 204 Bayuk Cigars 5Ue . 2 254 254 25** — 4
354 184 Beatrice Cre (la)_ 1 23 4 23 4 234 + 4
32 294 Beech Creek (2) 20s 30 30 30 +1
94 74 Belding-Hem .40# . 1 74 74 74
364 244 Bendix Aviat’n(le). 4 274 274 274 + 4
39 224 Best* Co (1.60a). _ 1 274 274 274 + 4
894 634 Beth Steel 2.25e ... 15 754 744 744 - *«
344 14 Bigelow Sanf d(le). 1 18 18 18 + 4
224 15 Black * Decker (1). 1 17 17 17 - 4
284 124 Boeing Aeroplane . 8 14 13®* 134 - >«
29'* 19 Bond Stoves (1.60). 1 214 214 214 -4
244 17 Borden Co (,60e) .. 5 184 18*, 184
254 124 Borg-Warner .50e . 1 16 16 IS - V,
7 4*, Brewing Corp (.60). 1 54 5 4 54 + 4
234 134 Briggs Mfg le) . . 2 174 174 174 - 4
53** 3S Bristol-Myers 2.40 1 43 43 43
244 134 Bklyn-Man Transit. 26 234 224 224 - 4
107'* 49 Bklyn-Man pf _ 1 100 100 100 -74
34 14 Bklyn & Queens ... 15 3** 34 34
294 144 Brunswlck-B ,75e _ 1 19 19 19 +1
104 64 Bucyrus-Erie (.25e) 1 7'* 74 7'* — '*
111 97 Bucyrus-Erie pf(7) 70s 105 105 105 +1
64 3 Budd Mfg . 7 34 34 34 - 4
64 34 Budd Wheel (,20e). 1 4*. 4** 44
33V* 20 Bullard Co (.75e) _. 1 26 4 264 264 + 4
33 174 Bulova Watch (2a) 3 27 27 27 — 4
134 54 Bush T Bldgs pf _ 100s 64 64 64 - 4
74 44 Butler Bros t.lSe) 1 54 54 54
234 174 Butler Bros pf 1.50. 1 19 19 19
44 24 Butte Copper ... 9 34 34 34 — 4
I"** 64 Byers (Am) Co 2 74 74 74
814 39 Byers AM pf (6.50k) 20s 59 57 59 +3
264 14 Calif Packing (1) ... 1 184 184 184 - Vi
14 1 Cal ahan Zinc 8 14 14 14
84 44 Calumet & Hec ,75e. 3 5s* 54 5** - 4
194 11 Campbell Wy 65e . 1 12 12 12
234 11** Carada Dry .... 1 144 144 14*, 4.
64 24 Canadian Pacific _. 34 3 24 24 — 4
34 2 Carriers&Gen 075e. I 24 24 24
118**100 Case (JI) Co pf (7). 10s 104 104 104 + 4
354 20 Celanese Corp (la). 4 264 254 254 -4
124 5 Celotex Corp ... 2 64 6*. 64
264 17s, Cent Aguirre 1.50 ... 1 184 184 184 + 4
34 Hi Central Foundry _ 1 14 14 14
4l'i 224 Cerro de Pasco (3e) 1 26 26 26 — 4
8*, 34 Certain-teed 2 44 44 44 — 1,
364 154 Certain-teed pf 110s 21 20 20 —14
44 34 Chesapeake Corp(r) 2 4 4 4
424 304 Ches & Ohio (2 50) 1 36** 364 36** — 4
24 ** Chi Grt West pf (r) 5 14 14 14
4 o«. v m nieu jnoi ... 1 y >4 yn4 y*4 — a,,
4 4 Chi R I & p*c (r)... 1 i« + ■ +
16+ 9 Chiekasha Cot Oil . 1 10+ 10+ 10+ + 4
6s. 2+Childs Co lg 3 24 2*, — 4
91*. 53+Chrysler Corp 2.50e 21 64*1 634 634- 4
144 10 City Ice & Fuel SOe 4 104 104 10'. — 4
98 89 City Ice & F pf 6 50 10s 92+ 92+ 92+
404 24 Clark Equip 1.25e 2 294 29 29 — +
Clev CC&St L. (10) 10s 124 124 124 -6
114+ 108 Clev E! Illu pf 4.50 10s 1114 1114 1114+ 4
41+ 254 Climax Molyb 1.20 7 27+ 27+ 27+
45+ 25+ Cluett Peabdy (1 e)_ 6 34+ 34 34 * —1
131 96+Coca-Cola (1.50e>_. 1 103 103 103
20 104 Colgaie-Pal-P .50 . 7 124 12 12 +4
264 16 Columb B C< A ).90e. 11 184 184 184 + 4
7+ 44 Columb G& El 20e. 17 54 54 54 — 4
93+ 67+ Col G&E pf A (6) ._ 2 844 824 844 +44
23+ 144 Columb Pic pf 2 75_. 2 17 17 17 — +
48 274 Cornel Credit (3) 3 29s. 29 294
1084 95 Cornel Credit pf 4.25 1 984 984 984 +34
56 32 Cornel Inv Tr (4)... 4 354 354 35+
164 8 Cornel Solvents _ 9 9 84 8s. — 4
33 254 Comwlth Ed (1.80). 32 304 30+ 304 —4
14 •* Comwlth & South’n 22 14 14 lVi — 4
244 14 Congoleum (1) . 3 154 15 15 — i/«
12 10 Congress Cigar cfs. 1 124 124 124 + 4
31+ 174 Consol Aircraft 5 204 20s, 204 + +
95 75 Consol Cpr pf 6.50. 100s 84 82 84 +2+
94 4*. Consol Cop M .15e__ 5 5+ 64 5+
324 23 Consol Edison (2).. 24 284 284 28+ + 4
1104 974 Consol Edis pf (5)-. 1 106 106 106 ’
14 4 Consol Film 1 4 ,,
10+ 54 Consol Film pf 60k 6 7 64 7 + 4
84 5+Consol Oil • 80 > 25 6+ 64 64
19+ 94 Container Corp ,75e 2 124 124 124
14 *4 Conti Baking iBI 5 4 4 4
97+ 70 Conti Baking pf (8) 1 774 77*, 77s. +14
494 33 Conti Can (le) ... 5 404 39+ 404 +1+
40*. 274 Conti lnsur 1 60a).. 3 33 33 33 + 4
4*. 2 Conti Motor _ ,3 2*, 2). 24
25 164 Conti Oil (.SOe)_ 3 18 17*, 18
254 15+ Copperweld Stl .40# 3 184 18 I84 + 4
70 47 Copperweld Df 2.50. 1 53 53 53
61+ 41 Corn Exchange (3). 70s 494 49 49 — 1;
654 44+Corn Products (8).. 2 49 49 49 4. 4
244 13 Crane Co ... 5 15 15 15 + 1,
105 75 CraneCo cv pf (6). 130s 87 86+ 86++ +
214 12 Crown Zeller (le).. 3 14+ 144 14+ + +
43V* 25 Crucible Steel ... 3 30 294 294 + 4
95 64 Crucible Steel pf_ 3 81 81 81 -2
44 1+Cuba KR pf_ 100s 24 24 24
8*. 3** Cuban Am Sugar_ 3 4+ 4+ 4+
91+ 60 Cub Am S pf (2k)__ 10s 67+ 67+ 67+ -14
4+ 2 Curtis Publishing.. 3 24 24 24 — 4
51 31 Curtis Pub pf (2k). 2 40+ 40 40+ - +
11*. 6*4 Curtiss-Wright . 42 74 6*4 64
32*. 214 Curtlss-Wr (A) 1# 9 24 234 234 - 4
224 14s, Cutler-Hamm’r .50# 1 18*. 184 184 + 4
23*. 134 Deere & Co 2 154 154 154 - 4
284 21 Deere & Co pf (1.40) 1 24+ 244 244 - 4
23s, 84 Del & Hudson _ 3 12 114 11*, — +
54 2+ Del Lark & Wn 3 3+ 34 3*.
23'.* 12+ Devoe & Ray A 25a 410s 134 13 134 - 4
20 12+Dlatlll-Seagr 12)... 1 1.5 1.5 1.5
23*, 114 Dome Mines (2)_ 1 124 12*, 12*,
94*, 654 Douglas Air (3g)_ 11 67 66+ 67
171 137 Dow Chemical (8)_. 2 149+ 149+ 149+ — +
10 5 Dunhlll Internatl . 1 6+ 6+ 6+ + 4
120 114 Duplan Silk pf 18).. 10s 114 114 114 +1
1894 146+ Du Pont (3.50e) .. 4 158+ 158 158
ss t 4.0-4 ^dsicin Air Lines . 1 zv'i 294
166". 117 Eastman Kodak i<) 3 119 1184 119 +1
14 V* Eitingtnn Schtld 3 4 4 14
4la4 25 Elec Auto-L 1.50e._ 2 31*4 314 31*, - 4
184 104 Electric Boat 40a._ 13 144 13*t 134 - *,
1*4 4 Electric* Music.— 1 4 4 1,
84 3 Eleo Pwr * Light. _ 14 54 54 54 - 4
31*4 154 Elec Pwr 4k Lt $6 pf 1 264 26 4 264 - 4
364 184 Eleo Pwr & Lt $7 pf. 2 294 294 294 - *4
414 26 El Paso Nat G (2)— 1 324 324 324 +4
124 54 Eng Pub Service—. 19 9 9
4 4 Eqult Office Bldg__ 1 4 4 4
1*4 4 Erie RR (r) _ 1111
114 5 Evans Products_ 1 64 64 64—4
34*4 204 Ex-Cell-O (Is)_ 1 304 304 304 - 4
84 3V» Fairbanks Co pf__ 20s 44 4 4
494 294 Fairb’k* Morseda) 2 354 344 344 — Vi
184 11 Fed Lt & Trac (la). 1 14 14 14
44 24 Fed Motor Truck 2 24 24 24 + Vi
25 15 Federat Dep St(le). 1 174 174 174
95 79 Federat’d DS pf 4.25 1 844 844 844 +34
40*. 274 Fidelity Phoe 1.60a. 7 33 32 324
46 324 First Natl Strs 2 60. 2 40 40 40 -1
214 104 Flintkote (lg) . 7 134 13 13
34 14 Follansbee Bro (r)_ 2 14 14 14 + 4
35 184 Food Mach (,50e)... 2 214 214 214 -4
384 244 Freeport Sulph d). 7 314 31 314 + 4
6*. 34 Gar Wood Indust 1 44 44 44 — 4
574 35*4 Gen Am Trans 1.25e 1 43 43 43 + 4
84 54 Gen Baking t.SOe). 3 64 64 64 + Vi
34 14 Gen Bronze _ 1 24 24 24
1174 102 Uen Cigar pf (7) .. 10s 1064 1064 1064 +14
41 26V» Gen Electric (.70e). 25 314 314 314 — 4
494 36 Gen Foods (2)_ 7 41 404 41
101 77*i Gen Mills (4a)_ 1 914 914 914
1304 118 Gen Mills pf (5)_ 10* 128 128 128
564 374 Gen Motors (1.75e). 27 43Vi 43 43 -4
194 9*4 Gen Hwy Signal 1 11 11 11
994 864 Gen Rwy Sig pf (*). 100* 99 99 99 +3
X 4 Gen Realty * Otil— 4 * 4 ft + ft
15*. 114 Gen Shoe (.SOe) ... 3 114 114 114-4
244 164 Gen Telephone 1.26. I 174 174 1T4 4 14
134 74 Gen Them Eq .40e— 1 94 94 94 + ft
«•
Prev. lB4u Stock and Salas— Mat.
High Low. Dividend Rate Add 00. High Low Close chge
6% 4 Gillette Saf R (.60) 5 4% 4% 4% - %
61% 33% Gillette 8 R pf (5)_. 2 37% 37 37%+%
9 4% Glmhel Broa _ 8 5% 6% S% + H
19% 11 Glidden Co (.30e)2 IS 12% 12%
3% 2 Goebel Brew «.20)1 2% 2% 2%
20% 10 Goodrich (BF) .. 3 12% 12% 12%
24% 12% Goodyear T&R .T5e 3 14% 14% 14%-%
1% % Graham-Patge 1 tt tt
9% 4% Granby Consol .50# 1 S% 5% 5% + %
10*, 6% Grand Onion i ctfs 1 7% 7% 7% — %
36% 26 Grant (WT) (1.40). 4 31% 31% 31%
28% 15% Great North n pf... 14 23% 22% 22%-%
17% 9% Greyhound (1) _ 13 11% 11% 11% + %
12 9 Greyhound Df (.55) 1 10% 10% 10% + %
25% 14% Grumman Aircraft 2 15% 15% 15% + %
3*, 1% Ousniaramo Sugar l 1*, 1% 1%
105% 95 Hanna (M )Df (5) 10a 97 97 97
28% 16% Harb-Walker (.SOe) 1 21% 21% 21%
113% 89% Hazel Atlas G1 (6). 1 91 91 91
60% 35 Homestake (4 6(l)__ 6 39% 38% 39%
50% 29%. Howe Sound (3)_ 2 30% 30 30%
27 12 Hudson Bay (le)_ 3 13% 13% 13%+ %
1 % Hupd Motor - 4 % & & - -i,
13% 5% Illinois Central 2 7% 7', 7% - %
118 72 Ingersoll-Rand (2e) 3 90 89 90 +1%
15% 7% Inspiration Copper. 3 8*. 8% 8% + %
5% 2% Interboro R T (r) 10 2% 2% 2% - %
47% 22 Interchemlcal(.SOe) 1 24 24 24
12% 6% Interlake Iron ._ 3 7% 7% 7% — %
38 18% lntl Agrteul pr pf _ 1 22% 22% 22%-%
62% 38 lntl Harvester 1.60. 3 43% 43% 43% + %
5*, 1*, lntl Hvdro-El (A).. 1 2% 2% 2%
14% 5% lntl Mercantile Ma. 9 7% 6% 6% - %
38% 19*. lntl Nickel Can (21. 30 23% 23% 23%
21% 10% lntl Paper * Power 17 12% 12% 12%
73 40% lntl Pa&P pf 2.SOe. 1 48 48 48
36% 25 lntl Shoe (160) ... 1.31 31 31 -V,
4% 1% lntl Tel A Tele* 10 2% 2% 2%
4% 1% lntl T A T for'n cfa 2 2% 2% 2% + %
52 34% Jewel Tea (2.40) 1 42% 42% 42%
77% 41 Johns-Manville 75# 1 56% 56% 56%
69 48% Jone A 1 ,au pf <2k) 8 68 65 67% +3%
103% 87% Kendall Co nf (*a) ]0s 95 95 95
38% 24% Kennecott Cop (le) 31 25*. 24', 25 — %
26 19% Kreag# (SS) 1 20a.. 1 23*. 23". 23%
34% 23% Kroger Groc (2) .. 3 30% 30% 30%+%
16% 12 Lambert Co 1.125# 4 14 13% 14
35% 16% Lee Tire & R(l.oOe) 1 21% 21% 21%+%
4% 2 Leh Valley Coal pf. 1 3 3 3 + %
4 1% Leh Valley RR (r)_ 3 2 2 2
24% 15% Lehman Corp *0# . 3 18*, 18% 18% — %
14 9% Lehn A Fink (,50e). 1 11% 11*. 11% - %
9% 5 Llbhy McN & Lib... 1 6% 6% 6%
41 27 Link-Belt <1 ) 1 32 32 32 + %
18% 10% Liquid Carbonic (1) 2 14 14 14 — %
41% 22% Lockheed Atrc_ 21 24% 23", 23',+ %
37% 20% LoeWe Ino (2)_ 4 24% 24% 24%
39% 15% Loft Inc _ S3 24% 24 24 - %
4% 2 Long Bell (A) _ 2 2% 2*. 2*.- %
25% 18% Lorlllard (,60e)_ 4 21 20", 20% - ",
162 138% Lorlllard pf (7) ... 130s 150 148 148 +6
21% 15% Louis G&E (A) 1.50 3 19% 19". 19%+%
35 25% MacAnd&Forb (2a) 1 26% 26% 26% - %
28% 17 Mack Trucks . 1 19% 19% 19% - %
31 20% Macy (RH) Co (le) 1 24 24 24 +%
38 21% Magma Cop 1.50e . 1 25 25 25 -1
17% 14% Man Ry modgtdir) 3 17% 17% 17% + V, |
5% 3% Marine Mldl’d 30e.. 16 4% 4 4
8% 2', Market St Rv nr pf- 20* 5 4% 4%
15*, 8% Marshall Field .40. 1 11 11 11 + %j
47% 26% Martin (Glen (le)..* 11 28% 28 28 -%
14% 6% Mart1n-Parrv .. 4 8% 8*, 8% — %
49'* 21% Masonite Corp (la). 2 25% 25 25
4% 2% Maytag Co 1 2% #2% 2% - %
17% 10 ‘McCrory Stores (1) 2 13% 13% 13%
29 17% McGraw Elec (1)_ 1 21 21 21 - %
12% 5% McKeesport Tin_ 3 7 6% 6*, — V,
8*, 4 McKesson & Rob_ 4 4", 4*. 4%
32% 17% McKesson* R nf— 1 22% 22% 22%+ %
34% 24% Melville Shoe (2)... 1 27", 27*. 27", - S
6% 2% Meneel Co .13 3 3
32% 24 Mesta Mach (1.50e) 1 26% 26% 26% -1%
12% 6% Miami Copper 20e 3 7% 7% 7%
17% 11% Mid Cent Pet (.40#) 2 13% 13% 13%
4% 2% Mlnn-Mollne Imo 1 ?'« 2', 2',
11 7% Mission Corp I S5g) 1 8 8 8 + %
1% % Mo-Kan-Texas_ 4 *« ", % — %
4*. 1% Mo Kan-Tex pf_ 2 2", 2% 2%
% ft Mo Pacific Df (r)_ 1 % % %
119 86% Monsanto Ch (2) . 1 89% 89% 89%
121% 113% Monsanto Df B 4 50 20s 119 119 119 +1%
56 31% Monte Ward 2 25# . 12 39% 38% 39%
26% 15 Mueller Brass.SOe. 2 18% 18% 18% - %,
15*4 8% Munslngwear 25e.. 4 12% 12 12 -1
4 Murra v Prim _ 1 SU S'* M4
74 3s* Nash-Kelnnator... 9 44 44 44
214 134 Natl A^me <.2Se) .. 1 174 174 174 +4
84 74 Natl Auto Fib pf .60 2 74 74 74 - 4
244 164 Natl Biscuit (1.80) 18 184 18*. 184-4
204 16 Natl Bond & Sh 45e 1 174 174 174
164 94 Natl Cash Reg 11). 1 11** 114 114-4
184 114 Natl Dairy 1 *0) . 9 134 134 134 -4
1164 1074 Nat) Dairy of A(7). 30s 113 113 113 -1
114 107 Natl Dairy pf B(7). 20s 1104 1104 1104 - 4
264 17 Natl Distillers <*)_. 3 20 4 20 204 + 4
124 54 Natl Gypsum _ 1 64 64 64 - 4
224 144 Natl Lead < B0)_ 1 164 164 164 + 4
84 54 Natl Pwr ft Lt «0.. 3 74 74 7',
9*4 44 Natl Supply 2 54 54 54 — 4 ]
110 100 Newberry(JJ)pf(5) 10» 105 103 105
144 64 Newport Indus I 7 7 7 — 4 :
184 94 N 7 Central . 36 124 114 114 - 4
214 84 N Y Chi ft St Louis. » 13 12*. 13 +4
39 15 N Y CM ft St L pf . 3 24 234 234 - 4!
334 204 N Y C Omnibus (3). 2 27'. 26' , 264 +14
84 34 N Y Dock 1 34 34 34 + 4 !
*. 4 N Y N H ft H <r) .. 5 A A A - * .
2 4 N Y N H ft H of <r). 1 H H
4 4 N Y Ont ft Wn ir).. 1 4 4 4
264 134 N Y Shlpblldlnc 2 21 204 21 - 4
264 15 Nor Am AvUCn.50# 17 16 154 154 + 4;
234 144 Nor Am Co 11.20).. 11 204 204 20'. - 4
94 44 Northern Pacific . 14 64 64 64 — 4 I
36 27 Northwest Tel IS).. 10s 33 S3 33 -4I
54 24 Norwalk Tire_ 1 24 24 24 — 4
8*. 54 Ohio Oil f.20e) _ 6 64 6 64 + 4
144 74 Omnibus Corp 1.20.. 2 114 114 114-4
184 114 Otis Elevator 36a.. 1 124 124 124
144 124*4 Otis Elev pf 1«)_ 10* 130 130 130
55 47 Outlet Co (3a)_ 10* 48 48 48 +4
644 42 Owens-Ill G1 (la).. 1 504 504 504 - 4
104 44 Pao Am Fisheries.. 3 54 54 54 +4
234 8 PacCoast 1st pf ... 10s 94 94 94 - 4
344 254 Pac Gas ft El (2)_ 4 294 294 294 - 4
164 8 Pac Mills 1 10 10 10 -1
154 144 Pac Tel ft Tel pf («) 10* 147 147 147
44 24 Packard Motor 128 3 4 3 4 34
254 12 Pan-Am Airways 13 144 144 144 + 4
84 44 Paramount Pie .15e 2 5 5 5 — 4
24 14 Park Utah M lOe... 2 14 14 14
224 134 Parker Rust (la).. 2 18 18 IS
124 54 Pathe Film _ 4 7*. 7*. 7*.
104 54 Patino Mines .. 3 6*. 64 64 + *,
964 71 Pennev (JC) 1.50e... 3 78 77 77 — 4
244 15 Penn Railroad 59e 12 20 194 194 - 4
21s* 15 Peoples Drug (,50e) 1 18'* 184 184 + 4
38s* 23 PeopG Lt ft C (2).. 3 31 304*304-4
134 54 Pere Marauette . 1 74 7s* 74 — 4
294 114 Pere Marquette pf. 90s 184 18 18
39s* 174 Pere Marq pr pf _ 20* 28 28 28
104 64 Pfeiffer Brew 411_ 8 74 74 74 - 4
40 4 254 Phelps Dodge ,50e_. 8 274 274 274 +4
974 68 Philip Morris (3a).. 2 77 77 77 - *.
414 274 Phillips Petrol (2). 4 314 314 314 - 4
94 54 Pitts Coke ft Iron . 1 64 64 64- V* I
84 44 Plttsbgh Screw .IBe l 54 5s* 5*,
164 7 Pitts* W Va _ 120* 114 11 114+4
224 15 Plymouth 011 1.40.. 3 17 164 164 - 4
12s* 54 Poor ft Co (B) 1 7** 74 7**
8 74 Postal Teleg pf_ 2 74 7s. 7** — 4
144 64 Pressed Steel Car.. 3 94 9'* 94 - 4
71** 53 Proctor ft Gam (2a) 6 624 61** 624 + 4
1184 1124 Proctor ft G pf (5) 10* 1164 1164 1164 + 4
434 304 Pub Svc fNJ) 1.20*. 2 37 37 37 + 4
128 1104 Pub8vc(NJ)pf(«). 1 122 122 122 +1
165 143 Pub Syc(NJ)pf(8). 20* 1564 1564 1564 +4
324 164 Pullman (.50e)_ 9 21*. 21 21-4
114 7 Pure Oil _ 15 74 74 74
cn Du» nn i tci . rci . tci.
7% 41* Radio Corp C.20«)_. 13 4:« 4% 4*.
69 48'i RadloCev pf(3 50) 1 55 55 55 +14
3 2', Radio-Keith-O new 7 3 2% 3
23 15'j Raybest-Man ,50e.. 1 16', 16% 16% + %
3714 24 Rayonier pf (2k)_.. 1 28', 28',4 28% + %
17', 9% Readme Co (1) 2 12', 12 12 + %
23 17 Reading 2d pf (2)._ 1 IS', 18', 18%
10', 6 Reming Rand 60e _ 6 7% 7% 7% - V,
57% 37% Rem R'd pfww 4.50. 1 48 48 48
2 1 Reo Motor ctfs 2 1% 1% 1%
237« 14 Republic Steel ... 16 17 16% 16% - %
15% 8% Reynolds Metals . 2 9'. 9 9 — %
44 32 Reyn Tob (B) (le). 3 36', 36'i 36',
8% 514 Richfield 011 (.50*) 13 7% 7% 7%
12 3% Roan Antelope .32e. 1 3% 3% 3%
53 34 Safeway Strs 1.50e. 8 42 42 42 - %
111V4 96 Safewav S Pf (5) 160s 1011* 101% 101% + <b
42 26 St Joseph Lead(la) 1 29% 29% 29%+ %
3114 17 Savage Arms (,60e) 1 20". 20% 20%+ %
14** 7% Schenley Distillers 2 8% 8** 8%
•% % Schulte Retail S (r) 2 Vi 14 14
109 10114 Scott Paper pf (4).. 10* 103 103 103
88 6114 Sears Roebuck (i)_. 13 72% 7214 72*4
16% 8% Servel Ino <1>_ 3 9% 914 9% + %
15% 8V, Sharon Steel_ 2 10', 10 10-14
5% 3 Sharp & Dohme—_ 3 3', 3'4 3%
56 42% Sharp & D pf (3.60) 2 42% 42% 42%
13'* 7% Shell Union Oil ,25e. 3 8% 8% 8'4
23V* 1214 Skelly Oil 1.25e>_ 2 13% 13V* 13V* - %
187, 10', Smith (A O) _ 1 12 12 12 -%
12', 7% Soconv-Vac 28* ... 10 8% 8*. 8%
2", 1% So Am Gold «.10e).. 4 1** 1*. 1% - 14
30% 16% So Porto Rlc S (la) 1 197, 19% 1914-%
30', 23V* Southn Cal Ed 1.50a 3 27% 27% 27V* + %
15% 6% Southern Pacific . 20 8% 814 81, — V*
20', 8 Southern Railway.. 18 11*, 11', 11%
341* 13% Southern Rwy pf_ 8 19 18% 18% - %
47 33 Rperrv forp (2gl .. 15 36% 35% 35% — %
11% 4% Spiegel, Inc <.45e)_. 5 6", 6% 6**
66% 46 Splegellnc pf 4.50.. 50s 52% 52% 52% -1
40', 267i Square D Co <.S0e)_ 30 33 32% 33 +1
77i 5 Stand Brands (40). 22 6% 6% 6% - %
2% 1 Stand Gas & Elec_ 1 1% 1% 1% - %
7% 2% Stand G*E *4 pf... 2 4'4 4% 4% — %
22% 12% Stand G*E 17 pr pf. 1 16% 16% 16%-%
26% 17*4 Stand Oil of Cal (1). 1 19 19 19 + %
29 20% Stand Oil Ind (1).„ 6 23 22% 23
46% 29% Stand Oil N J <la).. 17 32% 32% 32V*
34% 23 Starrett(LS) 1.25a. 1 29 29 29
80% 56 Start * Prod MOa . 3 68% 68% 68% + 14
8% 4% Stewart-Warn .It*. 8 6 6% 6%
12% 6 Stone * Webster_ I I 7% 7% - %
Prev 1940 Stock and Salts— Mat.
High. Lo* Dividend Rata. Add 00. High. Low. Close chat.
12k 6k Studebaker__ 2 6k 6»» 6k
65k 47 Sun OH «lt>. S 50k 50k 50k - k
10U 7k Sunahln# Min 1 «»„ 1 7k 7k 7k
27k 12k Superheater 4.60)_ 1 14k 14k 14k + k
2k lk Superior Oil _ 1 lk lk lk
24k 17k Swift A Co (1.20)_ 4 20k 20 20 -V*
32k 17 Swift Inti tl> _ 1 17k 17k 17k
7k 3*4 Svminc-Gouid xw_ 2 4k 4k 4k — k
6 4k Taleott (J) .30e.__. 1 4k 4k 4k + V.
7 4k Tennessee Corp_ 4 5k 5k 5k — V*
47k 33 Texas Corp til _ 7 38s. 38k 38k
35k 2(i*i Tex Gulf Sul (2a).. . 3 30k 30*. 30*.
8k 5k Tex Pso CAO (.40). 5 6 6 6
6k 3k Tex Pao Ld Tr log. 11 3k 3*. 3k - k
18k 8 Thatcher Mfc <1)_. 19 9 9
7k 2k Third Avenue ... 22 6 5k 5k - k
38k 25k Thomp Prod(.75e). 1 31k 31k 31k - k
2k 1 Thomnson-Starrett. 1 lk lk lk
12 8k Tide Wat As O 40e. 5 9k 9k 9k + V*
27k 18 Tlmk-Det Ax 1.25e 3 23k 23k 23V*
62 35). Timken R Brg 1.25e 1 42 42 42 + Vi
7 4k Transamerlca (.50) 2 5k 5k 5k + k
21*i 10k Transcont* & W Air 4 18 18 18
45 21k Underw-El-Ftie) 1 26 26 26 -1
18k 9k UnBag& Pap(.30e) 5 10k 10k 10*4+ k
88k 59*. Union Carbide ].70e 7 48k 68 68 -
17k 12 Union Oil(Cal) 75e 2 13 12k 13 + v*
98 71 Union Paciflo i*) 4 82 80k 80k + Vi
29k 22k Un Tank Car (1.80) 5 24k 24k 24k
53k 31k Unit Aircraft 1.50a. 28 33V* 32k 33 + V,
23k 12 Unit Air Lines . 7 17k 17k 17k
18 12'i United Biscuit ,60e. 1 13k 13k 13k + V*
19k 12 Unit-Carr Fast ,60a. 2 14 14 14
2*. lk United Corp_ 6 2 2 2
7k 3k United Drue_ 14 4 4
85*. 60 United Fruit (4) .. 2 62 61k 62 + Vi
15 10k United Gas Imp (1). 15 12k 12k 12'i
7k 3k U S * For'n Secur_ 2 4k 4k 4k + ’»
89 50 U S Gypsum (2)_ 12 57 56k 57 + k
12k 6 US Leather (A)_ 1 7'. 7k 7k — *.
38k 21k U S Pipe & Fdry (2) 1 25k 25', 25k +V*
lk k U S Realty * lmtr) 2 -Si k k
41k 15 U S Rubber .. 6 19k 19k 19k- k
117 68k U S Rub 1st pf (8).. 1 77k 77k 77k
70k 60 U S Sm & R rf 8.50. 3 65k 65 65k 4 2*.
68". 42 U S Steel tie)_ 33 52'* 51k 51k- k
Pre». 1940 Stock and Salas— Nat.
High Low Dividend Rate Add 00 High Low Close. rl*e
1244 1034 U S Steel pf (7) .. 2 11fi 1154 116 + 4
394 31 U 8 Tobaeoo 41.21). 1 314 314 814
2»» 14 Unit Stockyards_ 2 14 14 i«.
434 25 Vanadium _ 1 304 30». 304 - 4
44 1*. Ve-CaroChem .. . 3 24 24 24
118 109 Va Elec Pwr pf (8). 50* 117 117 117 42
14 4 Wabash (r).'_ 2 4 4 4
24 4 Wabash pf (AMD-. 1 4 4 4
74 54 Waldorf System *9 1 64 64 64
101 89 Walgreen pf (4.50). 1 924 924 924 -34
354 184 Walker (H) (4)_ 1 204 204 204 — 4
2 4 Warren Bros (r) ... 5 14 14 14
24 14 Wayne Pump 1.50e. 2 18 18 18
1104 91 West PennEl A M7) 10* 97 97 97 +2
108 90 West Penn E pf (() 100* 964 96 964 + 4
1184 1084 W Penn Pw nf 4.50 1 116 116 116 +2
25-4 11 W Va Pulp & P ,25e 1 154 154 154
404 21 West n Auto S (2).. 1 244 244 244 - 4
5 24 West’n Maryland_ 2 3*. 34 34 + 4
284 144 WesPn Union Tel_ 7 174 17 17 — 4
284 154 Westh's# A B 60e _ 1 204 204 204 — 4
118 76 Westhse Elec 1.75a. 2 91V* 914 91'.,+ 4
134 74 White Motor _ 3 9 9 9
114 44 White ^oek _ 21 7 64 64 + 4
74 34 White Sewing Mch 4 54 44 4*, — 4
244 144 White S M pr pf <2> 1 20 20 20 + 4
70 45 Wilson&Co pf 4.50k 3 57 564 57 +1
424 30 Wooiworth (2.40). 17 324 31*, 31** — 4
244 13*, Worthington Pump. 3 174 16** 164 — 4
93 73 Wrigley (Sa >_ 1 784 784 784
194 94 Yellow Truck _ 1 12 12 12
14 64 Young Spg & Wire. 2 84 84 84
484 264 Ygstwn Sh & T .50# 4 314 814 31V* — 4
Approximate Sales of Stock* on the N. Y. Stock Exchange.
11:00 A M_ 60,000 12:00 Noon. 100 000
"* 1:00 P.M.. 140,000 2:00 PM .. 180,000
Total Sales for the day. 230.000
* Unit of trading. 10 shares
r In bankruptcy or receivership or being reorganized under
Bankruptcy Act or securities assumed by such companies.
Rates of dividend in the foregoing table are the annual dls
i bursements based on the last fluarterlv or semi-annual declara
tion Unless otherwise no*d special or extra dividends are not
included
* Ex dividend, xr Ex rights, a Also extra or extras
; d Accumulated dividends paid last year e Declared or paid in
i far this year, f Payable In stock g Paid last year, h Cash or
I Stock k Accumulated dividends oald or declared ihls year
Tin Quotas Boosted
To 130 Per Cent for
Coming Year
$
Committee's Action
Revises Schedule
Fixed May 27
By the Associated Press.
LONDON, July 8—The Interna
tional Tin Committee today boosted
export quotas for producing nations
to 130 per cent of standard tonnages
for one year starting July 1.
• The Tin Committee meets at reg
ular intervals to allot to members
the tonnage which may be shipped
during quarterly periods. ‘ Standard
tonnages'' is an arbitrary figure ar
rived at bv an estimate of 'normal'’
world needs.
'Control over shipments is by
principal producing countries. Brit
ish Malaya, Dutch East Indies and
Bolivia. Tire United States annually
takes about two-thirds of world out
put. which in 1939 amounted to
more than 180.000 tons.)
The committee's action revised its
Mav 27 announcement fixing quotas
at 100 per cent for the third quarter
of 1940 Quota in the quarter ended
June 30 was 80 per cent, and in the
first quarter 120 per cent.
The 130 per cent quota was fixed,
said the committee, following receipt
of the results of negotiations be
tween the committee's representa
tives. John Van Den Broek of
Batavia and Victor A. Lowinger of
London, with United States au
thorities.
(Lowinger and Van Den Broek
have been in Washington making
arrangements for United States pur
chase of 75.000 tons of tin for part
of the nation's store of strategic war
materials.
(The Metals Reserve Co., financed
with Reconstruction Fnance Corp.
capital, was recently formed to pur
chase. among other metals, the tin.
(Commodity circles in New York
viewed the quota boost as designed
to supply to the market enough
extra tin to provide for government
demands in addition to industrial
needs.
(Similar action was taken last
Friday by the International Rubber
Regulation Committee, which raised
quotas to allow for United States
purchase of 150.000 tons of raw
rubber.)
Washington Produce
BUTTER—93 score, tubs. 30* <: 1-pound
prints, no3*; 'e-pound prints. 31 U: 92
score, tubs 29U: 1-pound prints. 293e:
'e-pound prints. 30'4: 91 score, tubs. *!R3«:
1-pound prints. 29*4: *4-P0und prints
2934 90 score, tubs, 27*'?: 1-pound prints.
28: ’4-pound prints. 28*2: 89 score, tubs.
27*« 1-pound prints. 273-: >4-pound
prints, 28*4: 88 score, tubs 27: 1-pound
prints. 27‘v. ^4-pound prints. 28.
LIVESTOCK—Calves. 9: spring lambs 9.
From Agricultural Marketing Service.
Prices nald net f.o.b. Washington:
EGGS—Market slightly stronger. Prices
paid for Federal-St ate graded eggs re
ceived from grading stations fJuly 8>:
Whites. U. S extras, large. 25-27; U. S.
extras, mediums. l9,a-23: U S. stand
ards. large 21-24: U S standards, me
diums. 18-19: U. S. trades. 15-18. Browns,
U. R. extras, large 23-27: U. S extras,
mediums. 19-23: U. S. standards, large.
20-24: U. S. standards, mediums. 17-19.
U. S. trades. 14-18. For nearby ungraded
eggs, current receipts, whites. 17-17*2. few
lower: mixed colors. 16-16*?. few lower.
LIVE POULTRY—Market steady. Fowl,
colored all sizes 16-17: No. 2s. 11-12:
Leghorns. 11-12. Roosters. 8-9. Chickens.
Virginia Rocks, broilers and fryers, all
sizes. 18-19: No. 2s. 13. Delaware Rocks
and crosses, broilers and fryers, all sizes.
17-18: No 2s. 12-13. Leghorn broilers. 2
pounds and up. 16. under 2 pounds. 14.
Turkeys, old. toms. 1 o-11 . hens. 13: No.
2s. hens and toms. 8-10.
Insurance Stocks
NEW YORK. July 8 .<P>.—National As
sociation Securities Dealers' Inc.:
Bid. Asked
Aetna Cas (4a) _ 109 J 1.3
Aefna Ins M.utiai _43'a 4 7 ‘a
Aetna Life <1.20a>_._ 20 27'a
Arr. Equit (I) _ lfi'a 1K
Am Ins Nwk fiat_ 11>2 13
Am Re-Ins (l.fiOa) _ 41', 43>,
Am Reserve <le> _ 13’, 15V,
Am Surety <•’>/, 1_ 41M 43’2
Automobile Mai_ 33', 33',
Balt Ame' (.2l)a>_ 0’2 7'2
Boston (16a) 573 590
Carolina (1.30) _ 27 Va 29Va
Citv of N Y (1.20)_ 213, 231,
Conn Gen Lif (.80)_ 233, 25',
Contin Cas (1 70) _ 32Vi 34V,
Fid A Dep (4' _ 110 113'a
Firem's Nwk (.40)_ 7>a R3,
Frank Fire (la) _ 283, Sot,
Gen Reinsur (la) _ 35V, 37Vi
Georg Home Ma) _ 23 25
Glens Falls (l.ooi _ 39V4 41'/2
Globe A Rep (Va) _ 9Vi 10>,
Globe A Rut _ 11 14
Gt Amer Ins (la)_ 243, 26>i
Hanover (1.20) _ 233, 25>/,
Hartford Fire (2a)_ 73 75
Home Fire Sec _ 1 Vi 2’i
Home Ins U.20a) _ 29V, 31 'i
Homestead (I) _ Ifi'i J7V,
Knickerbocker (Va)_ 7’, 8s,
Lincoln Fire _ l3, 2Va
Maryland Cas _ I Va 23,
Mass Bond (3 Vi) _ 55V, 57 3,
Natl Fire (2) _ 51 53
Natl Liberty (,20a)_ 7 8
New Amst Cas (Vi) _ 14’, lfiVi
New Hampshire (1.80a)_ 43’, 4(i3,
N Y Fire (.80) _ I2Va 14
Nor East Ins _ 2', 3 Vi
Nor River 111 _ 22V, 24’,
Phoenix (2ai _ 74'a 70Va
Prov Wash (la) _ 31 33
Rep Ins Tex (1.20a)_ 23 24‘/a
Revere (Pi In (1.20a)_ 21’, 23V,
Rh Isl Ins _ 2 'i 4
3t Paul Fire (8i _ 213 223
Springfield <4Va) _105 109
3un Life (15) _ 170 220
Travelers (10) 402 412
Q S Fid A G (1)_ 181 i 19Vi
U S Fire (2) _ 44 40
Westchester (1.20a) _ 30Vi 32 Vi
a Also extra or extras.
e Declared or paid so far this year.
Quotations furnished by National As
lociation of Securities Dealers. Inc . which
states they do not necessarily reflect actual
ransactions or firm bids or offers, but
should Indicate approximate prices.
New York Bar Silver
NEW YORK, July S (JP).—B&r
silver, 84%, unchanged.
Amsterdam Exchange
To Reopen July 15
By the Associated Press.
BERLIN. July 8 —The Amsterdam
Stock Exchange will reopen July 15,
it was announced here today. Only
official quotations will be lor Dutch
government bonds.
(Trade in securities was suspended
immediately after German invasion
of the Low Countries *
_
Improvement Forecast
For Printing and
Advertising Firms
Increase in General
Business Activity
Brightens Outlook
Special Dispatch to The Star.
NEW YORK. July 8—Coming
, months should bring moderate 1m
| provement in advertising, printing
and publishing industries, accord
ing to Poor's Industry and Invest
ment Surveys.
"Advertising expenditures gen
erally follow trade conditions fairly
closely, expanding as business activ
ity rises and decreasing as the pace
of business eases." continues the
analysis.
"This pattern may not be fol
lowed exactly during the months
advertising executives may hesitate
to set up their full advertising budg
ets during the present period of un
j certainties. However, most indica
! tions point to an increase in indus
i trial and general business activity,
which suggests that larger amounts
of money will become available for
advertising and will be expended,
even if cautiously. This may not
prove true in the case of some of
the heavy industrial companies,
which are likely to be more or less
preoccupied with military business.
Hence, industrial trade magazines
may suffer to some extent. On the
whole, however, most media appar
ently can count on larger volumes
during the remainder of the year.
Thus far, 1940 has brought only
moderate gains in most divisions of
advertising-* General advertising in
the first four months of the year
was about 3 per cent above that of
the corresponding 1939 interval. The
greatest progress has been shown by
radio, which has registered a gain of
14.8 per cent over the year-earlier
level. Outdoor advertising was 3 per
cent higher, magazines registered a
2.5 rise, and newspaper activity
rose 2.2 per cent. The probabilities
are that not only will these gains
be held but that they will be ex
tended during the period ahead," the
analysis concludes.
Foreign Exchange
NEW YORK. July 8 tJV—The Canadian
dollar reacted today after last week's
long climb UDward in relation 10 the
United States dollar. The free British
Dound also slipped a few cents.
Tlie Dominion currency dipped ** of
a cent to 87*2 United Stales cents Earlier
this year the unit sagged below 80 cents.
Sterling lost 3 cents. Thp Swiss franc
was unchanged
The foreign money market also learned
that United States gold stores were
swollen by an estimated $57,000,000 in
yellow metal over the week end.
Bulk of the gold was from Britain and
was consigned to the New York Federal
Reserve Bank. United States gold hold
ings are now above S2«>.00(i.0(»n.o0i>. or 80
per cent of the world s estimated mone
tary supply.
Late rates follow (Great Britain in dol
lars. others in cents.)
Canada.
Official Canadian Control Board rates
for United Stales dollars: Buying 10 per
cent Drepiium. selling. 11 per cent pre
mium. eQuivalent to discounts on Cana
dian dollars in New York of buying. 9 91
Der cent; selling 9.09 per cent.
Canadian dollar in New York ooen mar
ket. 12*2 per cent discount, or 87.50
United States cents.
Europe.
Great Britain, cables 3.7 4: Finland.
*?.05n: Germany. 40.1 On (benevolent.
18 95); Greece. 0.88: Hungary- 17.85n:
Italy. 5.05 Portugal. 3.75n: Rumania.
9.52fl: Sweden 23.88: Switzerland. 22.88:
Yugoslavia 2 35n
Latin America.
Argentina, officii. ''9.77: free. 21 30:
Brazil, official. 8.05; free. 5.10: Mexico.
20.35n.
Far East
Japan. 23.48: Hong Kong. 23.58:
Shanghai. 8.30.
(Rates in spot cables unless otherwise
Indicated, n Nominal.)
Chicago Produce
CHICAGO. July 8 UP.—Poultry, live. 37
trucks: steady. Hens, over 5 pounds. 15;
5 pounds and under. 15%: Leghorn hens.
12: broilers. 2% pounds and down, col
ored. 16: Plymouth Rock. 17%: White
Rock. 17%: springs, 4 pounds up. colored,
19: Plymouth Rock. 21: White Rock. 22%:
under 4 pounds, colored. 16%: Plymouth
Rock. 19- White Rock. 19: bareback
chickens. 13-16: roosters. 10%: Leghorn
roosters. 10: ducks. 4% pounds up. col
ored. 9. white. 9%: small colored. 9.
small white. 9: geese, old. 10: young. 14:
turkeys, toms. 10: hens, 13.
Butter receipts. 972.594: firm: cream
ery 93 score. 27: 92 score. 26%: 91 score.
26%: 90 score. 26: 89 "score. 25%: 88
score. 24%: 90 centralized carlots. 20%.
Eo-gs receipts. 16.322: firm. fi^sh greded.
extra firsts local. 16%: cars. 16%: firsts,
local. 15%: cars. 16: current receipts. 15:
dirties. 13: checks. 1°%; storage packed
extras. 17%: firsts. 17.
Potatoes, arrivals. 142; on track. 318:
total United States shipments Saturday.
T06: Sunday. 52; supplies moderate: de
mand good: for Idaho and Oklahoma Bliss
Triumphs, market firm for offerings other
sections, market slightly stronger. Cali
fornia Iona whites. U. S No. 1. 2.35-2.40:
Idaho Bliss Triumphs. U. 8. No 1. 1.95
2.05: North Carolina Cobblers. U. fl. No.
1. 1.50; Oklahoma Bliss Triumphs, gen
erally good quality. 1.50: Missouri Cobblers,
generally good quality. 1.25-1.40; Kansas
Cobblers, fair to generally good quality.
1.20-1.35: Kansas Bliss Triumphs, fair to
generally good quality, 1.17%-1.50.
London Bar Silver
LONDON. July S <tPi.—B»r silver. 21 lid.
unchanged 'Equivalent 39.33 cents h,»rf
en the dollar at M.03>.
unchanged. (Equivalent
Business Upswing
Speeded by Defense,
Hopkins Reports
Recovery Broadens in
June and Shows Signs
Of Strengthening
By the Associated Press.
The Commerce Department said
yesterday that the business upswing
engendered by the defense pro
gram had gathered momentum dur
ing June and there are possibilities
greater speed will be generated.
Recovery broadened and showed
signs of increasing strength. Secre
tary Hopkins said in a statement.
He noted a firming of commodity
prices. improvement of consumer
buying and expansion of business
purchasing, but commented that
because of low farm prices and cur
tailment of export markets “it ean
j not be said that domestic business
j is as yet wholly secure against Eu
| ropean developments in the near
future.”
The accumulation of some inven
tories was not dangerous, he said,
since there appeared little likeli
hood of a repetition of the year-end
downswing which resulted from the
September-October buying spurt.
Explaining that the upswing last
fall was based on a possible export
demand which was not fulfilled, he
added:
‘In the present situation, apart
from the fact that the volume of
new orders has increased much
more moderately, the basic demand
arising from the national defense
program is likely to require an
expansion in the volume of produc
! tion even beyond expectations.
"Should there be moderate in
ventory accumulation, therefore, to
meet requirements that will arise
when full demands for defense re
quirements reach the market, it
should not be a serious factor.”
The Secretary called attention
to, a broadened buying movement
in June, which extended to non
durable goods: indications of fur
ther rise in freight traffic, continued
activity in the construction industry
and considerable interest in plant
expansion.
Short-Term Securities
(Reported by Smith. Barney A Co i
„ , Bid. Offer.
Ala Gt Sou -A- 6s 194.9 109’, 110',
Alleghany Corp cv 5s 1944 76 V, 76’,
Amer Tel & Tel 5V,s 1949 106‘, 106",
Austin & Northw 5s 1941 91 99
Central Foundry 6s 1941 95 loo
Central RR of Oa 5s 1947 54’,
Chicago Union Sta 4s 1944 109 105
Childs Co 5s 1949 4°’, 44',
Colo Fuel A Iron 5s 1949 109’, 104',
Conn A Passu R RR 4s 1943 SS'b
Cuba Nor Rwys 5',s 1947 1.3 •’4’f
Dela A Hudson 4s 1943 50’« 5-'
Fed Lt * Traction 5s 1947 Ini', 103
Gr Rap A Ind 4>,s 1941 103
Inti Hydro-Elec 6s 1944 48 49
Inti Mer Marine 6s 1941 60 60',
Laclede Gas Light 5s 1949 S3 85
Lake Erie A Westn 5s 194L 90 t,4
Lehigh Val Ter R 5s 1941 41 4 7
Liggett & Meyers 7s 1944 173', 1'4*,
N V Cen & Hud Riv 4s 1947 no', <i°u
N Y * Lone Branch 4s 1941 95 14
Norfolk & Southern 5s 1941 66 68',
Pennsylvania Co 3'js 1941 101',
Penn-Dlxie Cement 6s 1941 ion', ion',
Penna RR Co 4s 1943 107’,
Peo Gas Lt A Coke 6s 1943 in!, 113',
Phila Balt A Wash 4s 1943 109', 1091,
Studebaker Corn 6s 1945 97'2 94
Tex A New Orleans 5s 1943 6" 95
Union Oil of Calif 6s 1947 1 10’, 1)1’,
Utah Power & Light 5s 1944 ini', ini’,
Warren Bros 6s 1941 37',
Westn N Y & Pa 4s 1943 _ 108 108’,
Chicago Livestock
CHICAGO. July 8 i-Pi (United States
Department of Agriculture'.—Salable hog>
r.JHKi; total ](>.500: active. 25-26 higher
than Friday's average. larg?ly 30-40 up: !
top T.Oo; bulk good and choice jso-f
-«*» pounds. 6.05-7.00. 270-330 pounds.)
6.40-75: 300-360-pound averages. 6.00-50
aood packing sows 35o pounds down. 1
mostly 5.50-60: heavier weights. 5.O0-50 !
Salable cattle 15.000: calves. 1.000
fairly active trade again on fed steers and
yearlings: all interests in market; al
though big packers showing rather slow
after bidding lower on early runs on both
local and shipper accounts: Eastern order
buyers bought freely, however; yearling :
and light steers steady to strong: In
stances shade high: medium weights and
weiRhty steers steady; top. 11.75: several'
loads lights as well as weighty steers at 1
that price: numerous loads. 10.75-11 50: I
best yearlings. 11.60; haifer yearlings.'
. fed haters, fully steady and
light kind to 10.75: grass tows, in-15
lower, but dry-fed kind, steady: cutters.
down: strong weights to 5.75: bulls
fully steady: weighty sausage offerings,
* 3o with 7.25 practical top: vealers.
steady at 9.50 and 9.75: strictly choice !
kinds 10.00: few stock cattle here: about
nOo head strictly fed stock calves and
yearlings steady.
Salable sheep. 4.000: total. 11.000. slow:
spring lambs, weak to 10 lower: sheep
and yearlings, around steady: four dou
bles. good to choice handyweight. Idahos.
10 55: few best natives. 10.40-50. with
bulk lightly sorted 10.00-25: throwouts.
mostly 8.00-50: handyweight shorn yearl
ings. lightly, sorted. 8.35; small lots, live
native ewes 3.50. bulk, medium and weigh
ty kind. 2.00-3.00.
Foreign Markets
LONDON July s i4>'.—The stock mar
ket resumed last week's forward trek to
day. by dealings remained slim. Rubber
and tin stocks attracted attention at nigh
er prices as enlarged quotas mproved the
earnings outlook Domestic rails wer» in
good demand. British government bonds
overcame Initial hesitancy and the in
dustrial group ended on a firm price
footing. Shell transport and trading was
adversely affected by revelation at the
annual meeting of war damage to oper
ating nroperties.
LIVERPOOL—Cotton futures closed un
changed to 3 points higher. Buying wa«
attracted by efforts to expand cloth ex
ports by formation of a manufacturers'
syndicate.
Dividends Announced
NEW YORK. July S —Dividends declared,
prepared by Pitch Publishing Co :
Regular.
* Pe- Stock of Pay
Rate. riod record able
Greene Can Cooper 75c P-16 B-16
Kirkland Lake Gold 5c B 9-36 ll-l
Kirkland Lake Oold7T~ie „ *-30 11-1
—' — —mam
Stock Market Takes
Irregular Course
In Dull Session
Slight Gains, Losses
About Balanced
At Day's Close
Stock Averages
. 30 15 15 50
, , Indust. Rails. Util. Btlcs.
Net change —.1 unc. —.2 —.1
Today, close 57.3 15.4 35.3 41.2
Prev.day... 57.4 15.4 35.5 41.3
Month ago 52.3 13.0 30.9 37 0
Year ago 65 7 17.4 37.0 46.3
1940 high.. 74.2 20.5 40 6 52.2
1940 low... 52.3 13.0 30.9 37.0
1939 high.. 77.0 23.8 40.6 53.9
1939 low... 58.8 15.7 33.7 41.5
60-Slock Range Since 1927:
... 19.77-38. 1932-38. 1927-29
High ... 75.3 72.8 157.7
Low 33.7 16.9 61.8
(Compiled by the Associated Press.)
By VICTOR EUBANK.
Associated Press Financial Writer.
NEW YORK, July 8.—The stock
market hunted unsuccessfully for
a trend today as traders were un
able to uncover any real inspiration
in either domestic or foreign news.
Dealings and price changes were
inconsequential throughout and at
the close slight gains and losses
were fairly well balanced. Trans
fers for the five hours were in the
neighborhood of 250.000 shares, one
of the smallest turnovers for a full
session in 18 years.
Business hopes remained as the
main selling prop, but even a sharp
snap-back in this week s steel mill
operations—the upturn was estimat
ed at 12.2 points, against the Fourth
of July week's letdown of 12.3 points
—was virtually ignored by shares in
the metal group.
Offsetting bullish arguments,
brokers said, were questions con
cerning a possible imminent Hitler
smash at England: what will happen
at the National Democratic Conven
tion next week, and the 'kind of
excess profits tax law w'hich may
be passed by Congress in the near
future.
Stocks up at one time or another
were United Aircraft. Southern Rail
way, Union Pacific. Western Union,
Phelps Dodge. Du Pont. Square D,
Union Carbide and American Can.
Lagging most of the day were
United States Steel. Bethlehem,
Anaconda. Kennecott. General Elec
tric. Allied Chemical and Wool
worth. Motors, oils and rubbers
finished just about where they did
Saturdaj-.
McGill Staple Index
Continues to Rise
Special Dispatch to The Star.
AUBURNDALE, Mass . July 8 —
The index of all commodity prices
compiled by the McGill Commodity
Service advanced for the second
consecutive week on July 5. Major
strength in the livestock groiJp was
primarily responsible for the up
swing However, of the 14 Indi
vidual classifications 6 w^ere higher
during the week, while' 5 declined
and 3 remained unchanged.
The industrial index eased off very
slightly as lower prices for nonfer
rous metals, paint materials and
fine textiles more than offset minor
strength in fuels ferrous metals,
coarse textiles, hides and leather
and vegetable oils
Tire agricultural index dropped
from 61.1 a week ago tr- 60 2. Despite
strength in wheat, rve and flaxseed,
lower prices for corn oats, barley,
cotton, hay and potatoes were suffi
cient to pull the index down.
Roger Williams Forms
Aircraft Company
By the Associated Press.
TOLEDO. Ohio, July 8.—Col.
Roger Williams. trans-Atlantic flyer,
announced today formation of the
Williams Aircraft Corp.
Williams, who made a one-stop
flight to Rome in 1927, said his
concern would build a plant here
immediately and that it already has
contracts to make parts for airplane
companies working on Army and
Navy orders.
New York Produce
NEW YORK. July S 4>—Eggs <2 days'
receipts*. 47.065; firm Mixed colors, fancy
to extra fancy. lO'a-'l.l'a: extras. 1SS4-1P;
storage packed firsts. I7-17'4: graded
firsts. Irt'a-V current receipts. 16: medi
ums. 15*2: dirties. No. 1. 15'a: average
checks. 14,2-14.
Whites iresale of premium marks. 28
no'ai; nearby and Midwestern premium
marks. 75-27'2: specials. 'H'j: standards.
10; iresales of exchange to fancy heavier
mediums. 2112-25); mediums. 21
Browns, nearby fancy to extra fanev.
2.'l-28'2: nearby and Midwestern specials.
2'. 2: standards. 18-1812; mediums, 21.
Duck eggs. 17-10.
Butter (7 days' receipts). 2.101.888
easy Creamery higher than extra. 27'2
7X14: extra 107 score), tubs. 27'4- car
tons. 70 *4-7 7: firsts 1S8-OI1. 25I4-',6:V
seconds (84-87 scorei. 74-25.
Cheese i2 days' receipts). 603.476
steady; state whole milk flats, held 10.79.
20'a-27: fresh. 10-11.
Dressed poultry steady, fresh, boxes
Fowls. 70-42 pounds. 11'a-10: 48-54
pounds. lfi'a-lS1?; 00-05 pounds. ]5-->o
Chickens, broilers. 10-22: fryers.
27: roasters. 17>,-77>a. Old roosters.
12'2-15. Docks 12-14. Frozen, boxes;
Fowls. 70-47 oounds. 11V»-16; 48-54
pounds. lfi'a-lS1?: 00-65 pounds. l5-"0
Old roosters. 12‘a-15. Turkeys. North
western young hens. 71-25: \oune toms.
la-22: Western, young hens. 20-74'i
young toms. l8-20>i: Southwestern
young hens 15-21'a; young toms. 14'a-io
Live poultry irregular: by freight
Fowls, colored. 10; Leghorn. 15 B» ex
press: Broilers. Rocks 20-21: crosses.
18-10; Reds. 17: Leghorn. IS Fowls,
colored 18: Leghorn, nearby. 16: South
ern. 14-15. Old roosters. 12-13. Tur
keys. hens. 10-20. Ducks. 20.
Boston Wool Market
Metal Market
„2U«;- i* nn Chinese wotram
ite, -".-50-4.4.00. Domestic scheelite. 22.00.
Odd-Lot Dealings
By the Associated Press.

Evening star. [volume], July 08, 1940, Page A-14, Image 14
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume], July 08, 1940, Page A-14, Image 14
About Evening star. [volume] (Washington, D.C.) 1854-1972