Evening star. [volume] (Washington, D.C.) 1854-1972, August 06, 1940, Image 16

Search America's historic newspaper pages from 1756-1963 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the National Endowment for the Humanities external link and the Library of Congress. Learn more

{
                  title: 'Evening star. [volume] (Washington, D.C.) 1854-1972, August 06, 1940, Page A-16, Image 16',
                  download_links: [
                  {
                   link: 'https://www.loc.gov/rss/ndnp/ndnp.xml',
                   label: 'application/rss+xml',
                   meta: 'News about Chronicling America - RSS Feed',
                  },
                  
{
    link: '/lccn/sn83045462/1940-08-06/ed-1/seq-16.jp2',
    label: 'image/jp2',
    meta: '',
},
{
    link: '/lccn/sn83045462/1940-08-06/ed-1/seq-16.pdf',
    label: 'application/pdf',
    meta: '',
},
{
    link: '/lccn/sn83045462/1940-08-06/ed-1/seq-16/ocr.xml',
    label: 'application/xml',
    meta: '',
},
{
    link: '/lccn/sn83045462/1940-08-06/ed-1/seq-16/ocr.txt',
    label: 'text/plain',
    meta: '',
},

                  ]
                }

Evening star. [volume], August 06, 1940, Page A-16, Image 16
About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

Image: of 34.

Page

All Pages

Issues

All Issues Text | PDF | JP2 (5.1 MB)

Evening star. [volume] (Washington, D.C.), 06 Aug. 1940. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1940-08-06/ed-1/seq-16/>

Newspaper Page Text

Investment Bankers
Will Push Program
Of Information
Five Vice Presidents
Are Nominated From
Important Committee
By HAROLD B. ROGERS.
Vitalizing its public information
program, the Investment Bankers'
Association of America, which has
11 members in Washington, has
nominated for re-election three of
Its vice presidents and selected two
other vice presidential nominees
from members of the committee that
is conducting a public information
program.
This action, announced through
the Chicago office of the associa
tion, was said to be consistent with
the policy set two months ago, when
Emmett F. Connely of Detroit was
nominated for re-election as presi
dent.
Vice presidents who have been
nominated for re-election are Paul
H. Davis of Paul H. Davis & Co.
Chicago; Edward H. Hilliard of
J. J. B. Hilliard & Son, Louisville,
and Joseph P. Ripley of Harriman
Ripley & Co., Inc., New York.
Nominated For First Time.
Those nominated for the first
time are John S. Fleek of Hayden.
Miller & Co., Cleveland, and John
O. Stubbs, Whiting, Weeks &
Stubbs, Inc., Boston.
These men. the Nominating Com
mittee of the board pointed out,
have been serving as Mr. Connely’s
cabinet in carrying out the ag
gressive and militant policy initi
ated by the association.
Officers of the association are
nominated by the Board of Govern
ors and elected at the annual con
vention, which this year is to be
held at Hollywood, Fla., December
P to 13. Nomination is considered
tantamount to election, since the
eelections of the board always have
beer, approved by the convention.
Takes Leave of Absence.
Mr. Connely, who is the first
president of the organization in 24
years to succeed himself, has taken
a leave of absence from his own
investment house, the First of Mich
igan Corp. of Detroit, of which he
is president, to serve as full-time
chairman of the Public Information
Committee.
One of the features presented by
this committee is expected to be
Keen and heard in Washington prob
ably within the next six months.
James Parker Nolan, partner of Fol
ger, Nolan & Co., is vice chair
man of the Southeastern group of
the Investment Bankers’ Association,
whose territory includes the District
of Columbia. Maryland, Virginia,
West Virginia and North Carolina.
The feature to be shown here is
a “slide film.” with voice sound
accompaniment, entitled “Investing
In America’s Future.” The eleven
Washington members of the I. B. A.
participated in a conference recent
ly at Baltimore with William J.
Price of Alexander Brown fiz Sons,
who is chairman of the Southeastern
group of the I. B. A. The film was
shown and heard at a preview there.
It will be presented later to lunch
eon and civic clubs here in the Capi
tal
Mark Anniversary.
Officers and directors of the
American Building Association to
day celebrated the 66th anniversary
of the founding of the organization.
Organized in 1874, and intended
originally to be strictly a community
thrift affair, on Third street S.E.,
the association has grown to be the
second largest of its kind in this
city.
Now located in its commodious
quarters at Third street and Penn
sylvania avenue S.E., the associa
tion has over 11,000 share accounts
and total assets in excess of $13,
000.000.
Officers are: Milton H. Prosperi,
chairman of the board; Charles H.
Kindle, president; Arthur C. Balser,
vice president; Wilfred H. Blanz,
secretary; Howard B. Kramer, treas
urer: R. Lee Baxter, assistant treas
urer; George A. Brennan, assistant
secretary, and Guy M. Neely, con
sultant appraiser. Directors include
John E. Mergner. Chatham M. Tow
ers, Thomas S. Sergeon, Charles A.
Rossiter, Dr. William C. Parmer,
Bernard J. Coyle and W. Dudley
Spicknall.
B. & O. Loadings Gain.
The Baltimore & Ohio Railroad
handled 222.468 cars of freight dur
ing the month of July, 1940. Of this
total 143.214 were loaded on line and
79,254 were received from connec
tions. This was an increase of 25.977
over July, last year, when the total
was 196.491, consisting of 123.691 cars
loaded on line and 72.800 received
orom connections.
It was also an increase of 8.963
cars over June, 1940, when 213.505
carloads were hauled, comprising
134.665 loaded on line and 78,840 re
ceived from connections.
For the month of July. 1940, the
total was 276.862, embracing 181,751
cars loaded on line and 95.111 re
ceived from connections.
For the week ended August 3, the
B. & O. handled 51,199 cars of
freight. Of this total 32,433 were
loaded on line and 18.766 received
from connections. This was an in
crease of 5.624 over the correspond
ing week of last year, when 45,575
carloads were hauled, comprising
28.959 loaded on line and 16.616 re
ceived from connections.
It was also an increase of 1.332
cars over the preceding week of this
year (the week ended July 27i, when
the total was 49.867. consisting of
32.141 cars loaded on line and 17,726
received from connections. For the
corresponding week in the year 1930.
the total was 64,539. including 42,522
loaded on line and 22,017 received
from connections.
Personal Mention.
C. J. Gockeler, assistant vice pres
ident of the Hamilton National
Bank, is on vacation at Margate,
K. J.
Robert E. Briggs, assistant cashier
cf National Metropolitan Bank, has
returned from vacation at Bethany
Beach.
C. Louis Eckloff. assistant cashier
cf National Metropolitan Bank, is
vacationing at Atlantic City.
Marchant Boosts Capacity
OAKLAND, Calif., Aug. 6 (Spe
cial i.—Substantial purchases of new
equipment by Marchant Calculating
Machine Co. to' provide increased
production capacity were announced
today by Edgar B. Jessup, president.
Augmenting present facilities, the
new equipment will afford both
greater efficiency and economy in
production while increasing the total
output, he said. Only a small part
cf the new machinery will replace
eld equipment.
*
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
By Print* Wire Direct to The Star.
Prev 1940 Slock end Sales— Net.
Hlth. Low. Dividend Rete. Add 00. High. Low. Close, ehge.
704 60 Abbott Lab (1.6**) 1 674 674 874 -4
624 344 Acme Steal (S) ... X 47 47 47 +4
274 164 Adams-Millis (1).. 1 18 18 18
584 364 Air Reduction (la). 8 414 404 404 -14
7 4 Alaska Juneau .(0.. 2 44 44 44 -4
14 4 Alleghany Corp ..4444
144 64 Allegh y 130 pf ww. 4 9 84 9 - 4
124 44 Alleghany pf xw . 1 74 74 74 - 4
174 7 Alleghany prior pf 1 144 144 144 + 4
182 1354 Allied Chemical (1) 1151 151 151 -1
94 44 Allied Stores 2 64 64 64 -4
414 214 Allls-Chalmers .60* 1 33 33 33 -4
584 384 Amerada (2) 3 414 404 40 ,-14
75 414 Am Airlines . 2 68 574 68
124 6 Am Bank Not* . 1 7 7 7 -4
50 85 Am Bank N pf (3) 60s 38 38 38 -2
94 64 Am Bosch 6 64 64 64 - 4
464 28 Am Brake Shoe 70* 1 344 344 344
24 24 Am Cable & Radio 11 24 24 24
1164 87 Am Can (4) 4 954 944 944 -14
334 18 Am Car & Foundry 4 24 234 2.34 - 4
514 34 Am Car & Fdry pf l 42 42 42 -4
234 134 Am Chain & C *0* 3 184 184 184 - 4
84 44 Am Comc’l Alcohol 2 5 5 5 -4
244 94 Am A F P 64 pf.SOk 2 114 114 114-4
284 104 Am & F P 7* nf.70k 1 144 144 144 -4
74 24 Am & F P 2d pf _ 3 34 34 34 -4
504 23 Am-Hawallan (la) 1 264 264 264 -1
64 3 Am Hide & Leather 4 4 4 4
664 454 Am Home Pr 2.40.. 1 544 544 544 -4
35 18 Am Ice pf (,50e) ... 3 22 21 22 +1
64 3 Am International.. 2 34 34 34
63 38 Am Locopf (3k) ...* 2 644 54 54 -1
144 10 Am Mach & Fy 80. 2 124 12 124 +4
25 124 Am Metals (1.25*). 1 144 144 144 -4
26 204 Am News (1.50) 140s 23 22 23 +1
54 2 Am Power A Light 7 34 34 34
54 284 APAL *5 pf 2.8125k 1 4.34 434 434 -4
634 344 APAL $6 pf 3 375k 1 50 60 50 -4
104 44 Am' Radiator . 29 64 6 64
174 94 Am Rolling Mills 8 11 104 104 - 4
114 5 Am Seating ( 50g) 1 7 7 7 -4
374 23 Am Ship Bldg (1*) 30* 304 304 304
54 304 Am Sm ft Ref 1-60* 3 36 .36 36 - 4
70 514 Am Snuff (3a) . 2 56 554 554 + 4
334 194 Am Stl Found 75e 2 234 234 284 - 4
174 11 Am Stove (75e) . 1 134 134 134 +4
18 114 Am Sumat Tob (1)_ 5 174 164 17 +14
1754 145 Am Tel & Teleg (9) 4 1624 162 162
894 69 Am Tobacco (5) .3 754 754 754 — 4
914 70 Am Tobacco) B)(5) 1 774 774 774 - 4
54 24 Am Type Founders 3 .34 34 34
124 54 Am Water Works 16 9 9 9
1014 834 Am W W 1st pf (S). 1 90 90 90
12 6 Am Woolen 2 94 9 9 —4
524 254 Am Woolen pf (3k). 1 384 384 384 -4
84 44 Am Zinc A Lead _. 2 5 5 5 —4
32 18 Anaconda (.75*)... 16 204 194 20 -4
74 4 Armour (111) .. 3 44 44 44
644 35 Armour (111) pr pf. 2 40 394 394 — 4
94 34 Artloom Carp .. 1 44 44 44 —4
9 44 Assoo Dry Goods 2 54 54 54
1004 82 Assoc Invest pf (5) 10* 90 90 90 +1
254 13 Atch T A Sants F* 18 154 15 15 -4
574 394 Atch T& SFe pf(5e) 1 49 49 49 +1
23', 94 Atl Coast Line . 5 12 114 114- 4
274 184 Atl Refining (1) 3 214 214 214
110 102 Atl Refining pf (1). 1 109 109 109 -4
94 7 Atlas Corn ( 25e> ..1777
84 4 Atlas Tack ■ .. 2 54 54 54 + 4
84 44 Aviation r'orp . 4 44 44 44 -4
194 12% Baldwin Loco etfe 11 15 144 144 — 4
6% 2% Balto & Ohio . 2 3% 3% 3% - 4
X 34 Balto & Ohio pf 1 44 44 44 - %
524 34 Bangor & Ar pf (5) 20s 39 39 39 + 4
13% 74 Barnsdall Oil 45e .. 2 *4 8 8 -4
36% 204 Bayuk Cigars 75e 1 27% 27% 27% + %
35% 184 Beatrice Cre (la) 3 22% 22% 22%
94 74 Belding-Hem (.SOe) 2 84 84 84
36% 244 Bendix Avia'n 1.75e 11 30% 29% 29% -1
224 174 Beneficial Loan 90# 1 18% 18% 18% + 4
39 224 Best & Co (1.60a) 1 28 4 28 4 284 -%
89% 634 Beth Steel 3.50e ... 39 794 784 784 -14
1254 1094 Beth Steel pf (7) 1 1194 1194 1194 - 4
344 14 Bigelow-Sanf (2e) 3 214 21 214 + %
224 15 Black A Decker (1) 1 17% 17% 17% - 4
11% 6% Blaw-Knox 3 84 8 8
28% 124 Boeing Aeroplane 6 144 144 144 - %
29% 19% Bohn Alum'n SOe 3 264 264 264 - 4
294 19 Bond Stores (1 SO) 1 224 224 224 -4
244 17 Borden Co C90e> .. 2 19% 19% 19%
254 124 Borg-Warner 50e 11 17 164 164 - 4
374 26 Bower Roller B (3) 3 35 35 35 -1
13% 8 Bridgeport Brass 4 9% 94 9% + %
23% 134 Briggs Mfg lei 3 184 184 184 - %
244 134 Bklvn-Man Tranal' 60 24'. 244 244 -4
1104 49 Bklyn-Man pf 2 114% 1144 114% +44
3% 14 Bklyn A Queens 33 3% 3*. 3% - 4
294 14% Brunswtok-B 75e 6 224’ 21% 21% - %
104 64 Bucvrus-Erle i 25e) 6 7% 74 74 — 1
64 3 Budd Mfg 5 3% 3% 3% - 4
44% 21 Budd Mfg pi 140s 38 38 38
64 34 Budd Wheel ( 20e> 5 5 5 5
334 20 Bullard Co ■ 75e) 2 27 26% 26*. -1%
21% 12% Burlington M (1) 19 184 184 184 -4
124 74 Burr’s Add M (.30#) 10 7% 7*. 7*.
5% 2 Bush Terminal 1 24 24 24 -4
7% 44 Butler Bros <.15e) 1 4% 4** 4%
264 14 Calif Packing (1).. 5 16% 164 16% - 4
14 1 Callahan Zinc 2 1 1 1
84 4% Calumet A Hec .75# 6 5% 5% 6% — 4
194 11 Campbell Wy (.90e) 1 12% 12% 12% - 4
234 11% Canada Dry 7 144 14% 144 + 4
6% 2% Canadian Pacific 14 34 3 34 +4
6 34 Capital Admin (A). 1 3% 3% 3% — 4
45 364 Cap Admin pf A (S) 100s 374 37 374 + %
90 754 Caro-Clin AO (5) . 10s 904 904 904 -4
32% 224 Carpenter Stll 75e 1 28 28 28 -14
34 2 Carriers&Gen 075e 2 2% 2% 2% - 4
75 394 Case (Jl) Co 3 50 50 50 - 4
118% 100 Case (Jl) Copf (7) 10s 109 109 109
564 42' Caterpillar Trac(2) 4 464 45% 464
354 20 CelaneseCorp (la) 13 30 29% 29% - 4
119 105 Celanese pr Df (7) 20s 118 118 118 4
264 174 Cent Aguirre 1.50 1 17% 17% 17% - 1,
3% 14 Central Foundry 4 2 2 2 -4
1144 106 Cent 111 L pf <4 50) 10s 111 111 111
414 224 Cerro de Pasco (3e) 4 24 23% 24 + 4
8% 34 Certain-teed 1 44 44 44
36*. 154 Certain teed pf 20s 22V* 22 2! - 4
294 104 Checker Cab Co 1 154 154 154 -1%
42% 304 Ches A Ohio <2 50) 4 38*. 384 384
24 % Chi Grt West pf (r) 1 4 4 % - 4
124 64 Chi Mail Order_ 3 7% 7% 7% - 4
14% 84 Chi Pneu Tool . 1 94 94 94 - V*
354 234 Chi Pn Tcv pf (3).. 1 29 29 29 +4
164 9 Chlckasha Cot Oil.. 2 104 104 104 - %
6% 24 Childs Co 7 2% 2% 2% - Vi
91% 534 Chrysler Corp 3.75e 24 73% 724 724 - 4
144 10 City Ice A Fuel SOe 1 104 104 104 - 4
98 89 City Ice A F pf 6.50. 10s 884 884 884 -1%
434 26 Clev Graphite .80#. 1 33 33 33
414 254 Climax Molyb 1.20. 7 27% 274 274 - %
131 994 Coca-Cola (2.25k)_. 3 1044 104 104 - 4
20 104 Colgate-Pal-P 50 16 114 11 il - 4
100 94 Colg-P-P cu pf 4.25 1 99*. 99*. 99% - Vi
1124 108 Collins A Aik pf (5) 10s 1104 1104 1104 +14
26% 16 Columb B CIA) 90e 1 204 204 204 + y4
264 16 Columb B C(Bi 90e 1 20 20 20
74 44 Columb G A El 20# 54 5% 5% 5% - %
234 14% Columb Pie pf 2 75 1 17% 17% 17% - 4
48 27% Cornel Credit (3) 14 314 304 314 +14
1084 95 Cornel Credit pf 4.25 1 99 99 99
56 32 . Cornel lnv Tr (41 13 39!, 394 394 + 4
16% 8 Cornel Solvents 6 94 94 94 - %
33 254 Comwlth Ed 11 SOI 42 30% 304 30% - V.
1% % Comwlth A South’n 18 1% 14 1%
73V* 42 Comwlth A S pf (3) 2 604 604 604 + %
24% 14 Congoleum (1) ... 1 164 164 164 - 4
314 17% Consol Aircraft ... 2 21% 214 214- 4
9% 4% Consol Cop M 15e._ 3 5% 64 54
324 23 Consol Edison (2).. 18 294 28% 28% — %
1104 974 Consol Edi» of (8) 1 1074 1074 1074 + %
84 54 Consol 011 1 SO) 4 64 64 64
194 94 Container Corp .75# 1 144 144 144 - V*
1% % Conti Baking 'Bl . 7 % V* %
494 33 Cont’l Can (1.50#).. 4 394 39 39 -4
404 274 Conti inaur 1 SOe) 1 354 36 4 364 + 4
4% 2 Conti Motor 5 24 2% 24
25 164 Conti Oil (.7oe) 2 184 174 184 +%
254 154 Copperweld Stl SOe 3 18 17% 1,7% - 4
70 47 Copperweld pf 2.50 1 544 544 544 + 4
614 41 Corn Exchange (X) 30s 50 50 50 +1
654 444 Com Products 1!) 6 494 49% 494 + 4
244 13 Crane Co 5 16 15% 15% - %
105 75 Crane Co cv pf (51 100s 95 95 95
384 18% Crown Cork A Seal 1 254 254 254 - »i
214 12 Crown Zeller (le) 11 154 14% 154 - 4
434 25 Crucible Sieei 5 304 79% 29% - 1,
95 64 Crucible Steel pf 6 95 91 924 -1%
84 3% Cuban Am Sugar 5 4 4 4
29% 194 Cuneo Press 11 SO) 1 22 22 22 -1
44 2 Curtis Publishing 2 24 2V* 24 + 4
61 31 Curtis Pub pf 2.75k 2 40 40 40 - 4
11% 64 Curtiss Wright 14 64 6% 6% — 4
32% 21V* Curtiss-Wr (A) le 2 23 4 23% 234 - V*
224 14% Cutler-Hamm’r 80* 1 18 18 18 — V*
234 13% Deere A Co 2 184 15 15 - %
19% 114 Deisel-Wem-G .76e. 1 15V* 154 164 +4
23% 84 Del A Hudson 2 114 114 114
54 24 Del Lack A Wn 1 34 34 34
1254 984 Detroit Edison (5#) 1 1x8 118 118 -2
234 124 Devos A Ray A .28# 30s 13% 13% 13%-%
36% 254 Dlant'd Match 1.80 . 2 284 284 284 + 4
104 4% Dlam T Motor 3 6% 64 64-4
38 304 Dixie Vor( A KX.BO) 20s 33V, 33 33
24% 14 Doehler Die C .80#.. 2 194 19 19+4
234 114 Dome Mines <3 > . 1 13% 13% 13% + 4
944 654 Douglas Air (Xg) _ 5 70 694 69% - %
171 137 Dow Chemical (X). 2 1464 1444 1444 + 4
30 14% Dresser Mfg (le).. 2 214 21% 214- %
10 5 Dun hi 11 tnternatl 1 64 64 6V*
189V* 1464 Du Pont (3.80#) 13 166 164 164 -1
1)8% 1124 Duauesn# let pf(6> 10s 116 116 116 -4
44', 25% Eastern Air Lines 5 29!, 294 294 - V.
64 3 Eastn Roll Mills 2 34 34 34 — 4
166% 117 Eastman Kodak >8) 1 124% 124% 124% -1
37 22 Eaton Mfg (2.25e) . 2 31% 314 31%
14 4 Eittnulon Schtld 3 A A A
41% 25 Elec Auto-L 1.50# 7 34% 344 34%-%
18*. 104 Electric Boat .40# 11 13 124 124 -%
84 3 Elec Pwr * Light 13 54 6 54 -4
31% 15% Elec Pwr* Lt 88 pf 2 30 30 30 -1
364 184 Eleo Pwr A Lt 17 pt 6 33% 33 33 -1
414 26 El Paso Nat G (X).. 1 32% 32% 32% - 4
46 35 EndicotWohn (<).. 2 41 404 404 — 4
12% 5% Eng Pith Service... 6 84 8% 8% — 4
114 5 Evans Products__ 4 64 6 6 —4
34% 204 Bx-Cell-O (le)_ 2 814 814 814- 4,
8% 84 ralrbanxa ce pt.... TOs 8% 8% 8% — 4
. #
Prev 1040 8tock and Salsa—. Hst.
Hlah. Low. Dividend Rate. Add 00. Hlah. Low. Cloae. ehae.
49% 2974 Fatrb’ks Morae(la) 2 35 35 35 -1%
31% 17% Fajardo Sugar (le) 1 18% 18% 18%
20 10 Ferro Enamel (la). 1 13% 13% 13%
4OH 27% Fidelity Phoe 1.60a 2 34% 34% 34%
21% 12% Firestone Tire .7Ee. 1 14 14 14
46 32% First Natl Strs 2 SO 1 40 40 40
35 18% Food Mach (.50e)_ 1 26 26 26
21% 9% Foster Wheeler_ 1 12% 12% 12%
6% 2** Fre- 1sco Sugar .. 1 2** 2% 2**
38% 24*4 Fre. >ort Sul (la).. 2 31 30% 30%+%
6H 3"i Gar Wood tndust 1 4% 4% 4%
57% 35** Gen Am Trans 1.25s 2 48% 48% 48% - %
8% 5H Gen Baking (.SOe). 2 7 7 7 +%
11% 4% Gen Cable 2 5 5 5
29% 11*4 Gen Cable (A) .. 1 14% 14% 14%-%
117% 102 Gen Clasr pf (7) 20g 111 110% 111 +1
41 26'. Gen Electric (.70e> 24 34 33% 33*4 - %
49% 36 Hen Foods <2> 4 40H 40% 40% + H
130% 118 Osn Mills of lS> 90* 127', 127% 127%
56% 87% Gen Motors <2.75e) 44 45*4 45% 46% - H
127% 116 Gen Motors pf <5> 1 123% 123% 123% - %
7% 3% Gen Outdoor Ady 2 5 5 6
19% 9*4 Gen Rvrv Signal 1 11% liy* 11%
31% 14 Gen Steel Cast pf 20» 22 22 22 - %
24*4 16*4 Gen Telephone 1.20 5 18% 18% 18%-%
13% 7*4 Gen Thea Eq 40e 1 9 9 9 - %
23% 13% Gen Time Inst. 75e. I 19 19 19
6*4 4 Gillette Sat R 1.60) 3 4% 4% 4% + %
61% 83% Gillette S R pf (S) 1 36'* 36% 36*4+1%
9 4% G'mhel Bros .. 4 5% 5% 5%
19*4 11 Glidden Co (.I0e)... 3 12% 12% 12%-%
44H 30 Glidden cv pf 42.26) 1 40 40 40 +1%
4% 2 Gobel (Adolf) . 1 2% 2% 2%
3% 2 Goebel Brew (.20) 2 2% 2% 2%
24% 12% Goodyear Rub (le). 13 15% 147+ 15
71% 25 Gotham S H pf ... 10s 33 33 33 +4
1% % Graham-Patge 2 A A A
9% 4% Granby Consal S5e 1 5 5 6 — %
14% 9% Grand On warctfs 1 12% 12% 12%+ %
36*4 26 Grant (WT) (1.40) 3 32% 31*4 31*. - *4
2871, 16% Great North ® pf 15 21 22*4 22*4 -1%
35% 23 Green (HL> ((2a) 1 30 30 30
17% 9% Greyhound (1) 10 12 11** 12 + H
25% 14% Grumman Ai'rc .50e 2 16% 16% 16% — %
20% 9H Hall I WF> Prts (1) 1 13 13 13
28% 167+ Harb-Walker ,75e . 2 21% 21% 21%+ %
9% 5% HatCorp(A) 30e. 1 5% 6% 5% - %
4% 27+ Hayes Mfg Corn 1 2% 2% 2'4
11H 7% Hecker Prod ( 60).. 1 8*4 8% 8%
21% 12% Hercules Mot ,50e . 2 15% 15% 15%-%
100% 76% Hercules Pow 1.20e 2 80 79% 79%
133% 127 Hercules P pf (6) 20* 127 127 127 -1
35% 19 Holland Furn (le). 2 26% 26% 26% + *4
774 4% Hollander (A) — 2 4*4 4% 4% + %
60% 35 Homestake (4.50) _ 9 407+ 39% 39% — 74
16% 8% Houd-Her (B) 75e. 3 11% 11% 11% - *4
674 3*4 Houston Oil .. 4 3>4 3*4 3%
50% 28% Hows Sound (I)_ 1 29% 29% 29%
27 12 Hudson Bay (le)._. 2 15% 15>4 15%
1H % Hudson A Manhat.. 2 % «i ’4 + A
7% 2% Hudson A Man pf... 2 4 4 4 + %
13% 5% Illinois Central ... 1 7% 7% 7% - %
9*4 5 Indian Refining ... 1 5% 5% 5% - %
118 72 Ingersol-Rd (4e) ... 1 88% 88% 88% -3
158 140 Ingersoll-Rd pf(6). 20* 145 145 145 -1
15% 7% Inspiration Copper 2 8*4 8% 8% — %
574 2% Interboro R T (r) . 15 2*. 2% 2*4
5 274 Intereontl Rubber. 1 2% 2% 274 — %
1274 6% interlake Iron 6 7% 7% 7% — %
191% 136 Inti Bus Mach (Sal 1 142% 142% 142%
62% 38 Inti Harvester 1 SO 6 44% 43% 43% -1
5% 1% inti Hvdro-El (A) 2 2% 2% 2%
147+ 574 Inti Mercantile Ma 6 6% 6% 6% — %
7 37, Inti Mining <.20e) 1 37, 3% 374 - 74
38% 19% Inti Mckel Can (2) 20 23% 23% 23%-*,
217<i 10% Inti Paper A Power 52 15% 14V* 14% — *4
73 40% Inti PaAP pf 2 80s 40 55 53 53% -2
37% 26% Inti Salt (1 50) 1 32% 32% 32%+%
36% 25 Inti Shoe (1 SO) ... 7 30 29% 30 +1
4*. 1*4 Inti Tel A Teleg 4 2*. 2% 2%
10% 4«, interstate Dept Str 2 6*. 6% 6% + %
8*4 574 Intertype (.20e)_ 1 6% 6% 6% + %
17 9 Jarvis (WB) T5e 6 114 114 114
774 44 Johns-Manville 75e 2 684 674 874 -4
16 94 Kalamazoo Stov 60 1 104 104 104 - 4
17** 84 Kelsey Haves <A) 3 13 13 13-4
384 244 Kennecott (1.75e) . 29 264 264 264 -4
144 10 Keystone Steel 50e 2 13 13 13
24 14 Kinnev. ORi 1 14 14 14
314 174 Kinnev GR *5 pf lk 100s 254 25 254 +24
26 194 Kreege <SS> 1 20a 3 234 23 4 234
294 234 Kress (S HHl 60) 4 26 254 254
344 234 Krorer Groc (2 ) 6 314 304 304 -4
164 12 Lambert Co l.J25e 1 124 124 124 -4
64 34 Lane Brvant 1 5 5 5 +4
354 164 Lee Rub&TIre 1.50e 1 20 20 20
14 4 Leh Valley Coal 3 1 11
4 14 Leh Valiev RR <r> 9 24 2 24
24'. 154 Lehman Corp 60e 7 194 19 19-4
14 94 Lehn ft Fink ( 50e) 2 11 104 104
53 4 30 Llbbev-Ow-F 1.50e 5 394 384 394 + 4
94 5 Libby McN ft L 50e 2 64 64 64 -4
109 87 Lies ft Myeis.BXa 1 96 96 96 —14
234 16 Lllv Tulin (’up 1 20 1 20 20 20 +1
41 27 Link-Belt Ml 2 344 34 34 -4
184 104 Liquid Carbonic (1) 4 144 144 144 + 4
414 224 Lockheed Alrc 5 254 254 254 - 4
37*» 204 Loew-eInei2) 5 25 24*. 25 - 4
394 154 Loft (no 50 224 214 214 -1
464 29 Lone Star Cmt (2) 3 32 31V* 314-1
254 184 Lorlllard (.60e) 2 20 194 194 - 4
214 154 Louts G&E lA) 1.60 1 19 19 19 -4
60 38 Louis ft Nash (4e) 2 564 564 564
284 17 Mack Trucks ( 50e) 3 214 214 214 +4
31 204 Macv (RH) 1.50e 3 24 24 24 - 4
124 84 Madison Sq Gar.85e 1 10*. 10*. 104 - 4
44 14 Manati Sugar 1 14 1*. 14
14 4 Maracaibo OH 1 4 4 4+4
54 34 Marine Mldl'd 30e 14 4 4
84 24 Market St Rv DT pf 50s 44 4 44
15*. 8;. Marshall Field .40 7 lib 114 114
474 264 Martin (Glen (le) 14 314 30*. 30*. - 4
144 64 Martin Parrs 6 8*. 84 8*. + 4
404 21*. Masonite Corp (la) 1 264 26 4 264 + 4
or. 21 Mathtesnn Aik 1 60 1 254 254 254 + 4
170 160 Math Alkali pf (7) 30* 170 170 170 +4
164 104 Mcfall Corp il 40) 1 12*, 12*. 12*. - 4
29 174 Mcilraw Flee ill 1 234 234 234 -4
S’, 4 McKesson ft R (r) 4 4*. 44 44
324 174 McKesson ft R of 1 22 22 22
344 244 Melville Shoe (2) 4 29 284 28*. - 4
26 114 Mengel i o 6% pf 20s 144 144 144 - 4
284 111* Merch ft Min Trane l 124 124 124
12v* 64 Miami Copper ZOe 2 7»» 74 74 -4
174 114 Mid Cont Pet L40e> 3 124 124 124
54 334 M1nn-Hon Ros (2a) 1 40 40 40 +1
11 74 Mission Corp (.65*) 1 8 4 8 4 84 + 4
4** 14 Mo-Kan-Tex pf ... 2 24 24 24-4
4 4 Mo Pacific of <r>... 2 ft ft ft
119 86*4 Monsanto Ch (2) 4 90 90 90 +4
119 110 Monsanto pf A 4.50 20s 118 118 118 +4
1214 1134 Monsanto pf B 4.60 10a 119 119 119
66 314 Mont* Ward 2.25# 13 414 404 404 -14
16 84 Motor Produets.60e 1 104 104 104 - 4
184 12 Motor Wheel (160) 1 16 16 16
39 20 Mullins Mf* pf 60s 30 30 30 +1
154 84 Munslngwear .26# 3 13 13 13
84 4 Murray Corp 1 54 54 54 -4
74 34 Nash Kelvinator 11 44 4'j 44 - 4
214 134 Natl Acme ( 25e> . 4 18*. 184 184 - 4
74 54 Natl Auto Fib 55e 17 7 7
164 9 Natl Aviation 25e 3 94 94 94 - 4
244 164 Natl Biscuit (1.60). 5 19*. 194 194 - 4
164 94 Natl ( ash Keg il) 2 114 114 114
18*. 114 Natl Dairv i 80) 5 13*. 134 *134
264 17 Natl Distillers <2) 6 204 204 204
12v* 54 Natl Gypsum 3 64 64 64
96 66 Natl Gyps’m pf 4.50 1 81 81 81 -1
27 134 Natl Malleable ,75e 2 18'* 18 18 - 4
84 54 Natl Pwr ft H 80 1 74 7 4 74 - 4
94 44 Natl Supply 1 54 54 54
104 74 Natomas 1.80) ... 1 84 84 84
104 94 NehlCorp (.60). . 11 10V* 10 10 - V*
91 72 NelsnerBrpf (4.75) 20s 75 75 75 +3
184 94 N f Centra) 22 114 114 114-4
214 84 N Y Cbl A St Louis. 3 124 124 124
39 15 N Y Chi A St L pf 7 24 234 234 - 4
56 45 N T Lack A Wn (5) 60s 534 634 534 +1
264 134 N Y Shlpbtldlng 13 204 204 204 + 4
264 15 Nor Am Avlat’n.50a 11 164 157-11 154— 4
234 144 Nor Am Co (120).. 6 194 194 197*
94 44 Northern Pacific .. 7 64 6 64
84 54 Ohio Oil (.20e) .. 12 64 6 6 - Vi
144 74 Omnibus Corp 1.20 1 104 104 1074 — 4
184 114 Otis Elevator ( 60e) 2 134 134 134
124 7 Otis Steel 1 74 74 74
55 47 Outlet Co I3a i 20s 51 51 51 +24
644 42 Owens-Iill G1 1.50e 3 554 54',> 544 -14
104 44 Pac Am Fisnerles 2 54 64 64 + 4
234 8 Pao Coast 1st pf 20s 8*. 84 84 - 4
124 34 Pac Coast 2d pf 90s 44 44 44
344 25V* Pac Gas A El (2) 8 29 , 294 294 +4
50 33 Pac Lighting *3 1 2 384 384.384 + 4
7V* 24 Pac Tin Consol .40e 11 34 34 34 - 4
8V* 64 Pao Western O 40f 6 6 54 6
44 24 Packard Motor 42 34 34 34+4
254 12 Pan-Am Airway# . 6 144 14 14-4
1 4 Panhandle 1 ft ft ft
84 474 Paramount Pie .15# 35 5 4 54 64 -4
104 64 Param t 2d pf (.60 ) 2 8 4 8 4 84 -4
444 314 Parke Darla (1.20e) 2 334 334 334 + 4
224 134 Parker Rust (la).. 1 194 194 194 -4
104 64 Patino Mlnaa — 4 64 64 64 -4
964 71 Penney (JC) 1.50e_. 6 804 804 804 - 4
25 114 Penn-Dixle Cam pf. 1 194 194 194 -14
244 16 Penn Railroad .60e. 24 194 194 194
214 15 Peoples Drug (.50e) 1 194 194 194
294 114 Per# Marquette pf 40s 184 184 184 -4
394 174 Pare Marq pr pf 120s 304 284 30 +14
84 64 Petrol Corp (.35e).. 6 64 64 64 - 4
404 254 Phelps Dodge ,75e . 6 29 284 284 - 4
4 4 Phlla ft K C A 1 (D 14 4 4
974 68 Phlltp Morrie (3a) 1 774 774 774 - 4
<14 274 Phillips Petrol 121 10 344 334 34 -4
80 644 Pitts C A lrpf <5> 10s 68 68 68 +3
84 44 Pitts Screw (.30e) 2 54 54 64 -4
344 164 Pitts Steel pf (B) 20s 22 22 22 +4
194 10 Pitts Steel 5% pf 20g 16*. 154 154 - V*
164 7 Pins* W Va 20s 114 104 104
8 64 Postal Tele* pf_ 6 74 74 74 - 4
147* 64 Pressed Steel Car 12 97* 94 94 -4
714 53 Proctor A Gam (2a) 3 644 644 644
1184 1124 Proctor AG pf (6) 10a 116 116 116
434 304 Pub Stc (NJ) 1.20a 2 364 364 364 +4
324 164 Pullman Co (.75e).. 3 194 194 194
114 7 Pure OH 2 74 74 74 -4
974 84 Pure OU pf (6). 1 86 86 86 +4
89 734 Pure OU pf t6>_ 2 764 764 764 t1
74 44 Radio Corp (,20e)..‘ 18 44 44 44 -4
69 484 RadioCeT pf (3.60 ) 4 664 66 66 -4
• 24 Radio-Keith Orph. 1 274 24 24-4
+ A
Prev 1040. 8tock and Salen— Net.
High. Low. Dividend Rate. Add 00. High. Low. Close, chge
294 134 Rayonter Inc 2 164 154 164 - 4
174 94 Reading Co (I) 3 13 124 13 +4
104 6 Renting Rand ,80e . 2 84 8 84 +4
574 374 Rem R d pfww 4.50 1 494 494 494 +1
2 1 Reo Motor ctfa_ 17 14 14 14-4
234 14 Republic Steel 27 174 164 17 -4
95 704 Reo Steel cvpf(9k) 940a 92 90 92 +2
80 60 Reo Steel pf A (•). 4 794 774 774 -4
144 74 Rewere Copper ... 1 9 9 9 -4
154 84 Reynolds Metals 6 114 11 11-4
44 32 Reyn Tob B) 1.60e . 3 35 344 35
84 64 Richfield Oil l 60g) 24 8 7 4 8
63 34 Safeway Strs 2.25e 4 434 434 434 - 4
1114 96 Safewav 8 Dt «6» 140s 1054 1054 1054 - 4
42 26 St Joseph Lead(la) 2 31 304 304 -14
314 17 Savage Arme (]e) . 1 23 23 23
14"* 74 Schenlev Distillers 2 104 104 104 - 4
88 614 Sears Roebuck 12 ) 20 76 4 754 754 - 4
164 84 Serve! Inc 111 1 104 104 104
66 42 Sharp* Dpf 13.50) 2 424 424 424 -4
134 74 Shell Union 011 ,25a 3 84 84 84 -4
24 124 Simmons Co .50c 2 154 154 154 — 4
25 174 Slmonds S&S t.80e) 2 234 234 234 + 4
234 124 Skelly Oil (,75e) 3 154 15*4 154-4
244 15 Snider Pkg 2 164 164 164 - 4
124 74 Socnnv-Vae 26* 29 84 84 84
304 164 So Porto Rlc S (la) 1 174 174 174
164 10 S.ElGreyh'nd 1.(0 2 13 124 13
304 234 Southn Cal Ed 1.50a 3 274 274 274 -4
154 64 Southern Pacific . 3 84 84 84
204 8 Southern Railway. 7 114 114 114 + 4
344 134 Southern Rwy pf 14 184 18 18 - 4
34 14 Sparke Wlthlngton 1 14 14 14
47 S3 Sperry Corp (2g) ... 9 374 374 374 -14
384 19 Spicer Mfg (le) 3 27 264 264 -1
114 44 Spiegel, Inc (,45e).. 9 64 64 64 -4
404 264 Square D Co (.80e). 4 314 314 314 -4
74 6 Stand Brands (40). 8 64 64 64 - 4
24 1 Stand Gas * Elec 3 14 14 14
74 24 Stand G&E $4 pf 1 44 44 44
224 124 Stand G&E *7 pr pf 2 17 17 17 -4
264 174 Stand Oil of Cal (1) 19 184 18 18-4
29 204 Stand Oil Ind (la) 17 244 244 244 +4
46'i 294 Stand OH N J .la) 22 334 334 334 -4
344 23 Starrett(LS) 1.25e 1 30 30 30 -1
804 56 Sterl g Prod 3 80a 1 654 654 654
84 44 Stewart-Warn .26# 8 74 7 74 + V*
84 44 Stokely Brothers 2 44 44 44 + 4
124 5 Stone* Webster .. 7 74 74 74 - 4
124 54 Studebaker ... 33 74 74 74 -4
654 47 Sun Oil i la) .. 2 474 464 464 -14
104 74 Sunshine Min 1.50.. 1 84 8 4 84 + 4
24 14 Superior Oil _ 3 14 14 14
244 174 Swift* Co (1.20)_ 4 19 184 19
824 17 Swift Inti (2) 3 18 174 18 - 4
6 44 Talcott (J) .30*_ 1 44 44 44 .
7 44 Tennessee Corp_ 1 54 54 54 — 4
474 33 Texas Corp (2) ... 29 354 35 35 -14
354 264 Tex Gulf Sul (2a)_. 3 324 324 324 -4
424 30 The Fair pf . 50a 32 22 32 +2
54 3 Thermold . 6 34 34 34 +4
34 20 Thermold pf 1.75k.. 80a 26 254 26 +24
74 24 Third Avenue 1 54 54 54 -4
38V* 254 Thomp Prod(.76e) . 4 324 314 314 -14
12 84 Tide Wat As 0.55e. 4 9V* 94 94 — 4
274 18 Tlmk-Det Ax 1.25e 5 234 234 234 -1
62 354 Timken R Brg 1.25* 1 43 43 43
7 44 rransamerlea (.60) 4 5 44 5 +4
214 104 Transcont' * W Air 3 174 174 174 - 4
24 14 Tri-Connnentai 7 14 14 14 — 4
54 34 Truax-Traer ,25e .14 4 4
134 5 20th Century-Fox . 4 64 64 64
134 64 Twin Coach 1 74 74 74 — 4
IV* 4Ulen*Co(r» 2 * 4 4 — 4i
184 94 Un Bag & Pap(.30e) 24 124 114 12 -4
884 594 Union Carbide 1 70s 12 694 684 69 -1
98 71 Union Paolttc < 6 > 5 85 844 844
534 314 Unit Aircraft l.BOe 27 37 35V* 354 -2
PrevlftiO Stock and Sales— Net.
High. Low. Dividend Rate. Add 00. High. Low. Close, chge.
23*4 12 Onlt Atr Lines 10 161* IBM, 1614 - M
66*4 4214 United Carbon (I) 2 48*, 48*, 48** - V*
214 1*4 United Corp „ 17 114 114 114-14
42 2614 United Corp pf (I) 26 36 35 36 + M
714 3*4 United Drug 3 4'4 414 414 - V4
6514 3914 Unit Dyswd pf (7). 20* 40 40 40
5*4 214 Unit Electric Coal 1 414 414 414 + 14
35 2614 Unit Eng&Fy 1.50s 1 29 29 29 — 14
15 1014 United Uss Imp (1) 16 12 1114 1114
13*4 6 Unit Mer & Mfg .60* 1 9 9 9 - %
10*t 5 0 8 Distributing pf 70a 714 7 714 + 14
10*. 614 U S Freight (,50e)_ 1 7** 7*« 7»» — 14
89 60 USGvpsum 111 2 65 6414 6414 - 14
3814 21*4 U S Pipe ft Fdry (2) 4 25*, 25M 25*4
41*4 15 U 8 Rubber 10 201, 191, 19V, - 14
117 68'4 U 8 Rub let pf (g) 4 83 83 83 + *,
68*. 42 U S Steel (2e)_ 50 63*4 5214 62'4 -IV*
124V, 10314 U 8 Steel pf i7) 1 11714 11714 11714 + *.
39V, 31 U 8 Tohseco (1.211 8 32*4 31' . 81*4 - *.
48'4 42'4 U S Tobacco pf 1.75 30s 43(4 4314 4314
7*4- 6V4 Unit 8tockyds pf.70 1 BM 6M 614
214 I Unit Store, 1A i 1 1M ly, 1'4
70 45 Unlv Leaf Tob (4a) 1 63V, 53V, 53V* -3V.
4314 25 Vanadium 4 30** 30'/, 30V* - Vy
4S»'4 3514 Vick Chemical (2a> 1 421, 4214 4214
3114 19 VictorChem L60e). 1 23 23 23
31** 14 Va-Caro Chsm pf .. 1 18V* 1814 18V, - *,
118 109 Va Elec Pwr pf (6). 10s II6I4 ? 1614 116',
36 2814 Virginian R pr 1.60. 2 32'/* 32V, 3214-1
214 *4 Wabaah pf (A)(r) . 1 14 ’4 14- 4
7*4 El* Waldorf System .80 2 614 614 6T4
36V* 1814 Walker (H> (4)_ 1 26 26 26
6*4 3 Wei worth Co ... 12 4 3*» 3** - 14
9*4 3*4 Ward Baking <▲).. 1 4*4 4*. 4*, — y,
414 2 Warner Bros Piet.. 2 214 244 214 - 14
2 14 Warren Bros (r) 1 1*4 1*, 1%
3114 22 Warren Fy ft P (2). 1 25 25 25 + 14
11014 91 West PennElA)(7) 10s 102 102 102 +1
116 9614 West Penn E pf (7) 10g 107*. 107*. 107*4 +114
25*4 11 WVaPulp&P 25e 8 16*. 16*. 16*.
4074 21 West'n Auto S (2) 4 28'4 27*, 27*, — *4
28*, 1414 West’n Union Tel 1 17*. 17*. 17s, - y4
2844 15V, Weath’se A B .75* . 2 21'/, 21V, 21V, + 14
118 76 Westhse Elec 2.75* 8 10119 100*, 100', - 44
37*4 26 Weston El Inst (2). 3 30'4 30 30 -2M
3814 27*. Westvaco H.40) 1 33'. 33y 3344- y,
3914 2814 Westvaco pf < 1 60) 1 34s, 34** 34,, _ y,
98 85 Wheel&L E pf 5 60 60s 97', 97 9714
3514 18M Wheeling Steel 2 22 22 22 - V,
13M 7'4 Whit* Motor 7 10M 10 10 — M
11*4 4*4 Whit* Rock 3 7», 714 7**
744 3'4 Whit* Sewing Mch 5 5M 5 5M - 14
314 114 Wlllys-Overlend .. 62 214 2 2 - M
6*, 3 Wlllys-Overl'd pf . 14 4', 4*, 4*j
7*4 3*, Wilson ft Co 1 4M 4M 4', - 1,
70 45 Wilson&Co pf 4.50k 2 54 54 54 - y
42V* 30 Wool worth <2.40) 19 3414 33 7» 34 + y,
2414 13*4 Worthington Pump 8 20V, 19', 191, -
42 29 Worth Pump pr pf. 4 4314 43', 4314- y,
25 1514 Yale ft Towns 1.80). - 1 17*» 17*4 17*,
1914 9*, Yellow Truck .. 22 13 12', 1214
124 98 Yellow Tr’k pf (7). 20s 115', 115’, 115', 42',
14 6*4 Young Sp&W .50* . 1 10M 101, 1074 - M
4814 26M Ygstwn Sh ft T .60# 5 321* 311, 31M— 14
17*, 8*4 Zenith Radio (Is) . 2 11 11 n
Approximate Soles of Stock* on the N r. Stock Exchange
11:00 A.M- 90,000 12:00 Noon 140 000
1:00 P.M. ... 170.000 2:00 P.M 210.000
Total Sales for the day, 290.000
Onlt of trading. It) shares
i _ J. 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 dis
bursements based on the last quarterly or semi-annual declara
tton Unless otherwise noted special or extra dividends are not
included
x Ex dividend xr Ex rlsht? a Also extra or extra* d Ac
cumulated dividends paid last >ear e Declared or'paid so far
this year /Payable in stock, a Paid last year h Cash or stock
k Accumulated dividends paid or declared this year
McKesson & Robbins
Reports Net Profit
Of $2,058,939
American Locomotive
Also Shows Boost
In Earnings
1 Bj the Associated Press.
NEW YORK, Aug. 6.—McKesson
& Robbins, Inc., and.subsidiaries for
i the six months ended June 30 earned
a net profit of $2,058,939, compared
with profit of $1,502,326 in the same
period last year, without provision
for interest and amortization on the
i 5*2 per cent debentures.
William J. Warden, trustee, said a
j substantial part of the increase re
sulted from liquor purchases by
customers in anticipation of the
Federal floor stocks tax imposed
July 1.
I Sale of the principal assets of the
Hunter Baltimore Rye Distillery7,
Inc., a wholly owned subsidiary, re
sulted in a loss of $88,514. he re
ported.
American Locomotive Co. and
subsidiaries for the six months ended
June 30 reported net profit of
$1,178,470, equal to $3.35 a share on
the 7 per cent preferred stock, con
trasted with a net loss of $931,710
in the first half of 1939.
Socony-Vacuum Oil Co. today
estimated consolidated earnings for
the first half of 1940 at approximate
ly $25,000,000. For the first half of
last year earnings were figured at
around $17,000,000.
Oil industry price levels, the com
pany said, have declined since early
this year and profits may be lower
during the second half.
The latest estimate- included full
equity in earnings of 50 per cent
owned companies, although divi
dends have not been declared to
cover such earnings. Not included
were possible earnings in those Eu
ropean countries directly involved
in the war.
Directors authorized a dividend
of 25 cents, payable September 16
to holders of record August 21. A
similar amount was paid in March.
Sheaffer Pen Pays Extra.
CHICAGO. Aug. 5 (/P).—'The W.
A. Sheaffer Pen Co. today declared
an extra dividend of 25 cents a
share in addition to the regular
quarterly dividend of 50 cents a
share on common stock, both pay
able August 26 of record August 15.
An extra dividend of 25 cents was
also paid in the previous quarter.
Eagle-Pitcher Reports Profit.
CINCINNATI, Aug. 6 (/P).—Eagle
Pitcher Lead Co. reports net profits
of $410,309 for the six months ended
June 30, compared with $374,976 in
the first half of last year.
Rock Island Reports Loss.
CHICAGO. Aug. 6 OP).—1The Chi
cago, Rock Island & Pacific Rail
road today reported a net June loss
of $773,818, as compared with $665,
954 for the same month a year ago.
Net loss for the six months ended
June 30 was $5,338,430, as compared
with $6,034,341 for the correspond
ing 1939 period.
Check Transactions Off
In July in 274 Cities
The Federal Reserve Board re
ports that banks in 274 leading cities
cashed $7,461,000,000 worth of
checks in the week ended July 31,
compared with $8,690,000,000 in the
corresponding week last year.
In the 13 weeks ended July 31,
checks cashed totaled $106,724,000.
000, compared with $103,290,000,000
in the similar period last year.
S. E. C. Reports Transactions
Bv the Associated Press.
The Securities & Exchange Com
mission reported today these trans
actions by customers with odd-lot
dealers or specialists on the New
York Stock Exchange for August 5:
1,865 purchases involving 48,460
shares; 1,813 sales involving 44,527
shares, including 34 short sales in
volving 934 shares.
General Motors
Votes Dividend
Of $1 a Share
By the Associated Press.
NEW YORK. Aug. 6 —Directors of
General Motors Corp. voted today a
dividend of $1 a share on the com- j
mon stock, payable September 12 to
holders of record August 15.
The previous common stock pay
ment was $1 in June. In March
75 cents was paid. In 1939 three
payments of 75 cents each were
made, with a $1.25 year-end pay-'
ment.
Refined Copper Cut
To 11-Cent Level
At New York
New Price Is Fourth
Of Cent Below
Previous Mark
E? the Associated Press.
NEW YORK. Aug. 6.—Refined
copper sold at 11 cents a pound
today in the custom smelter and
1 smaller producer sections of the
! market, cent below the level pre
I vailing since July 31.
The big primary producers still
quoted the llVi-cent-a-pound price
posted last February, but dealers
said it was practically nominal in
view of the lower price elsewhere.
The export copper market was
stirred by reports Japanese inter
ests, who made fresh inquiries today,
have ordered substantial tonnages
in the last week or 10 days. Esti
mates ranged all the way from 5,000
to 20.000 tons at a shade below 10
cents.
Immediate delivery was insisted
on, it was said, which some observers
hinted might be a desire to escape
possible Government restrictions on
future export of strategic war mate
rials.
A short time after custom copper
was reduced leading producers of
lead announced a 15-point slice to a
basis of 4.ff5 cents a pound. The last
price change occurred in early May,
when the base was trimmed io
points to 5 cents.
Sugar Deliveries Up
To 3,073,085 Tons
The Agricultural Adjustment Ad
ministration reported today that
sugar deliveries during the first six
months of this year totaled 3,073,085
short tons, raw value, as against
2,962.118 tons in the corresponding
period last year.
In the continental United States
distribution was as follows: Raw
sugar by refiners, 3.583 tons; refined
sugar by refiners, 1,996,901; by beet
processors, 658,606; by direct-con
sumption importers, 364,387; by
mainland cane mills for direct con
sumption, 49,608.
Distribution of sugar for local
consumption in the territory of
Hawaii was 12,145 tons and in
Puerto Rico it was 36,285 tons.
Woolworth Sales Gain
NEW YORK, Aug. 6 (JP).—P. W.
Woolworth Co. today reported July
sales increased to $24,507,300 from
$24,340,150 in July last year, a gain
of .7 of 1 per cent. Sales for the
first seven months of the year ex
panded to $170,542,574 from $163,
089,508 in the comparable 1939
stretch.
J. J. Newberry Co., operators of
a national chain of variety, stores,
reported July sales advanced to
$4,248,299 from $4,132,185 in the like
1939 month, a gain of 2.8 per cent.
For the first seven months sales
rose 5 per cent to $27,150,785 from
$25,838,168 in the comparable period
last year.
W. T. Grant Co. reported July
sales of $7,698,386, against $7,298,045
in the same month last year, an
increase of 5.5 per cent.
Ohrid Lake, in Yugoslavia, is
nearly 1,000 feet deep.
A
Bank Loans Register
$21,C33,C 33 Drop
During Week
Decline Is Second
After Long Period
Of Advonces
By the Associated Press.
The Federal Reserve Board re
ported a $21,000,000 decline in com
mercial. industrial and agriculture
loans of banks In 101 leading cities
in the week ended July 31.
This was the second drop in as
many weeks, after a long period of
consecutive increases.
Last week principal declines were
$15,000,000 In New York City, $5,000.
000 in the Chicago district and
$4,000,000 in the Boston district. In
the Philadelphia district, however, a
$5,000,000 gain occurred.
The board's statement gave the
following summary of assets and lia
bilities on July 31. together with
changes for the week and with the
same week last year, in millions of
dollars:
July 31. July 24. Aug 2
. . . 1940. 1940. 1939
Loans and invest
ments—total . __ 23.978 -31 +1.734
Loans—total- _ 8.517 - 3 * 351
Commercial, indus
trial and agricul
tural loans- 4.441 —21 - 554
Open market paper_ 291 -+- l — 22
Loans to brokers
and -dealers in
securities - 419 4 8 — 236
Other loans for pur
chasing or carry
ing securities_ 474 — 2 _ 5°
Real estate loans __ 1.210 — 4 4-“
Loans to banks_ 40 — 4 _ 34
c*1*?*^ loans- 1.642 + 9 * 99
O. 8. bills- 791 — 3 * 318
U. S. notes- 2.099 * 6 — 33
U. 8. bonds- 6.567 * 2 * 657
Fully guaranteed
Government obli
gations - 2.418 — 1 - 177
Other securities 3.586 +23 + 264
Reserve with Fed
eral Reserve
banks - 11.449 —77 +2.765
Cash in vault- 478 —20 + 54
Balance with do
mestic banks_ 3.140 —41 + 347
Demand deposits—
adjusted_ 20 984 TJnch.-3.52°
Time deposits__. 5 320 * 6 — 77
Government deposits 526 — 4 — "3
Domestic banks-_ 8.239 —69 *1,227
Foreign banks 676 Dnch * 53
Boi rowings 2-1 _ 7
Pontiac Sales Rise
Sharply in July
By the Associated Press.
PONTIAC, Mich.,* Aug. 6.—Pontiac
Division of General Motors Corp.
today reported its retail sales of
new cars during July at 17.950,
compared with 10.995 in July a year
ago. Its new unit sales in June of
this year numbered 23,372.
D. D. Bathrick, general sales man
ager. said unfilled orders “are still
four times greater than a year ago."
Oldsmobile Sales Drop.
LANSING. Mich., Aug. 6 OP).—
Oldsmobile division of General
Motors Corp. reported today that
its retail sales of new cars for July
totaled 15.586 units. June sales
numbered 18,086.
Sales from January 1 to August
1 reached 120,067 compared with
83,158 in the corresponding months
of last year, D. E. Ralston, Olds
mobile's general sales manager, an
nounced.
Foreign Exchange
NEW YORK. Aug. 6 (Ah.—The Hong
Kong dollar dropped more than of a
cent in relation to the dollar today while
'on'ern, mounted in the Par Eajit over
Sritish-JaDane.se relations.
Foreign money dealers said residents
and traders leaving the British Crown
Colony were converting their Hong Kong
currency into United States dollars and
theoound sterling, chiefly the former
• i«l?le^?S,.?on5wmon*y has b**n termed,
along with the Shanghai dollar, the only
free/ currency in the Far East,
jTce sterling, meanwhile, advanced
cents. Other major units still traded
in the local market, including the Cana
dian dollar at 87V« United 8tates cents,
were unchanged
follow <Qrc*t Britain in dol
lars. others in cents): „
Canada—Official Canadian Control Board
rates for United States dollars: Buying,
10 per cent premium; selling. 11 per cent
premium; equivalent to discounts on Cana
dian dollars in New York of buying 9.91
per cent: selling. 9.09 per cent.
Canadian dollar in New York open
SJVjtet, 12’i, per cent discount, or 87.12 V,
United States cents.
Europe—Great Britain, official ^Bank
ers Foreign Exchange Committee rates),
buying. $4.02; selling. $4.04: open market. 1
cables. 3.92: Germany, 40.10n: (benevo- !
lent. 18.05): Finland, 2.05n: Greece. .88;
Hungary. 19.Son; Italy. S.05: Portugal.
3.82; Rumania. ,82n: Sweden. 23.87;
Switzerland. 22.75: Yugoslavia. 2.35n.
Latin America—Argentine, official. 29.77;
free. 22.25: Brazil, official, 6.05; free, 5.05:
Mexico. 20.40n.
Far East—Japan. 23.48: Hong Kong.
22.81; Shanghai. 5.77. (Rates in spot
cables unless other wise Indicated.)
n Nominal.
▲ J
Light Selling Develops
Under War Pressure
On Stock Market
Steels, Motors, Aircrafts
Weaker and Declines
Run to Point or More
Stock Averages
30 15 15 80
._ . , Indust. Rails. Util Stks.
Net change —.7 —.1 —.2 —.4
Today, close 59.3 15.7 36.2 42.5
Prev. day 60.0 15.8 36.4 42.9
Month ago 57.3 15.4 35.3 41.2
Year ago . 69.3 18.7 39.9 49.2
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 41.6
60-Stock Range Since 1927:
, 1037-38. 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, Aug. 6.—New war
qualms today served as an excuse
for light selling in the stock market.
The list shifted over an irregular
route in the early proceedings.
Steels, motors and aircrafts then
began to slip and. at the worst, de
clines ran to a point or more. Most
leaders finished not far from the
day’s lows.
Dealings, fairly lively in the first
hour, slackened from then on, and
the ticker tape frequently wras at a
standstill. Transfers approximated
300,000 shares.
Invasion of England Feared.
Dispatches from abroad hinting
that the long-threatened Nazi in
vasion of England might be near
ing fulfillment, brokers said, tended
to chill buying sentiment, and many
nervous holders lightened commit
ments to be on the safe side.
Speculative forces again were dis
posed to step warily pending final
j congressional action on the na
tional taxing program and more
: light on presidential campaign
trends. Numerous bright corpora
tion earnings statements seemed to
i offer scant inspiration marketwise.
Non-ferrous metal issues were
handicapped by reductions in cop
per and lead quotations.
There were scattered resistance
spots. Among these was Yellow
Truck. It was announced the com
pany had been awarded a War De
partment order for $15,254,786.
Bonds Narrowly Even.
Backward were United States
Steel, Bethlehem, Chrysler. Sears
Roebuck, United Aircraft, Sperry
Douglas Aircraft, Anaconda. Ken
necott, American Smelting. Du
Pont. American Can, Eastman
Kodak. Loft. International Paper
common and preferred. Great
Northern and Texas Corp.
Moderate support was accorded
Southern Railway, Woolworth and
Johns-Manville.
Bonds and commodities were nar
j rowly uneven. Wheat at Chicago
| was unchanged to off \ of a cent
a bushel and corn up H to *s. Cot
ton. in late transactions, was down
10 to 25 cents a bale.
Stumbling in the curb were Amer
ican Cyanamid “B." Bell Aircraft
Electric Bond & Share and United
Gas.
Tax Moves Watched.
In the matter of taxes, the opinior
| was expressed in financial quarter:
j that the adoption of either of th<
excess profits measures now befon
t congressional committees possi'r.!
j could influence more conservati’’
j corporation dividend policies. B~\
j proposals include undistributed e--r -
1 ings among items w'hich would !;->
j allowed as credits against so-ca.
I excess.
Airline company stocks were Un
less in the face of estimates pas
senger plane traffic in July estab
lished a new peak for the fifth con
secutive month. Available statistics
were said to indicate major concerns
flew about 55 per cent more revenue
passenger miles than in the cor
responding 1939 month.
Electrical equipments were aided
, at intervals by reports of growing
| demand in this field. The spurt in
heavy industry lately was understood
to have sent turbine orders to a new
high in the past six months, with
contracts for marine propulsion
j machinery and land generator sets
; totaling more than 2,000,000 horse
power.
Chicago Grain
CHICAGO, Aug, 6 OP).—Early ad
vances of as much as 1% cents a
bushel in corn ad wheat today were
steadily whittled away and the close
saw wheat gains turned into net
losses, while corn finished only Vs-H
cents higher.
The market tone was firm, but of
ferings were limited and after the
early upsurge the market sagged
steadily under scattered local sell
ing. Reports of rains in the com
belt and more favorable condition*
in the Northwest spring wheat areas
were also factors in the decline.
Wheat finished unchanged to *4
cents lower, September 74%-V4, De
cember 75% -Vi; corn was >/a-%
higher. September 60-60'a, Decem
ber 55%-56, and oats were un
changed to % cents higher.
WHEAT— Ooen High. Low Close.
Sen. .74’* ,7fi .74V, .74%-%
Dec - .75% .76% .75% .75%-%
mcorn_ -78'1 ‘8* ■78*
Sep -.60 .60% .50’, .60-60%
Dec. .56 .56% .55% 55%-S5
May_- .68 .58% .57% .57%-%
OAT8—
Sen _.29% .29% .29'* ,29%
Dec. _.29% .29% .29% .29%
May .30% .30% .30% .30%
SOY BEANS—
Oct. _.74 .74 .72% .73%
Dec _.73% .74% .72% ,73 V*
RYE—
Sep _.43% .43% .41% .41%
Dec _.46% .45% .44% .44V,
May .48 .48 .47 .47%
LARD—
Sep. 5.37 5 37 6.32 5 82
Oct. _ 5.60 5.50 6 42 S.lf
Dec. 562 5.62 5 57 5.57
J»n. 5.67 •_ _ g 67
BELLIES—
Sep. _6.87 _ _ 6 87
oct. _7.oo ... ?0O
Cash Grain.
Cash wheat No 1 hard. 76%-77%
sample *rade. 75%: No 4 dark hard 7S%:
No 2 mixed. 78%-76%: No 3. 76: No 1.
<6. Corn. No. 1 yellow. 64%-66% Oa*a
No. 1 white, 3l%-%; No 2 31% No
?' i.No 1vwhlt* h*»vY 31%-S2: No
br"Lht' 31 ^-32: No. 3 white
31-31% No. 1 red heavy. 31%;
hMvvre3i" r v5e*TT- *}'■?<>■ 3 red extra
heavy. 31%: No. 1 mixed extra heavy.
?'>■ , B\vley. ma tins. 48-57 nominal;
reed. 35-45 nominal Rye. No. 1, 50.
Pig Lead Quotations
NEW YORK, Aug. 6 OP).—St.
Joseph Lead Co. reported 75 tons
of Southeast Missouri pig lead sold
yesterday at $4.85 per 100 pounds,
East St. Louis; 650 tons at $5.05,
New York, and 150 tons at tha New
York average.
*

Evening star. [volume], August 06, 1940, Page A-16, Image 16
About Evening star. [volume] (Washington, D.C.) 1854-1972

Connect with the Library

Find Us On

Subscribe & Comment

Download & Play

Questions

Evening star. [volume], August 06, 1940, Page A-16, Image 16 About Evening star. [volume] (Washington, D.C.) 1854-1972

Connect with the Library

Find Us On

Subscribe & Comment

Download & Play

Questions

Evening star. [volume], August 06, 1940, Page A-16, Image 16
About Evening star. [volume] (Washington, D.C.) 1854-1972