Evening star. [volume], April 09, 1943, Page A-14, Image 14

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

Image provided by: Library of Congress, Washington, DC

                
Heavy Stock Trading
Causes Daily Rush
To D. C. Board Rooms
Revival of Interest
Puts Severe Strain
On Office Staffs
By EDWARD C. STONE.
Standing room has been at a pre
mium all the week in Washington's
New York Stock Exchange offices,
due to feverish trading activity pre
vailing every day. Many chairs
which look as if they had not seen
duty since the hectic 1929 days have
been brought back into service in
order to make patrons as comfort
able as possible as they eagerly
watch five hours of changing quo
tations.
Brokers say Interest in the market
has quadrupled as trading, has
jumped from 500.000-share days to
sessions in which more than 2,000,000
shares have changed ownership.
The increase in telephone calls is
perhaps the best indicator of the
growing wave in investments and
speculation. Geared to very slow
trading for nearly three years, office
Staffs are nowr taxed to the limit to
keep up with business, a lot of over
time being necessary.
Many Reasons for Upturn.
Brokers give a multitude of rea
sons for the recent market advances,
including the distinctly favorable
turn in war news, extensive invest
ment of idle funds, a more favor
able attitude in Congress toward
financial problems and belief that
the Securities and Exchange Com
mission may have passed the peak
in the regulation of exchanges. Op
timistic views on postwar planning
aimed at industrial prosperity are
. heard in every office.
Inflation psychology has been
one of the biggest factors in the
market for months, brokerage house
Officials point out. Taxes, earnings,
dividends, management and pros
pects are still given careful atten
tion, the feeling prevailing that the
next tax bill will not be much hard- j
er on big corporations than the j
present law.
Brokers cite many other reasons :
for the broader market activity j
which has included both blue chips
Snd penny stocks as well as very
heavy trading in bonds. Trading is I
still light compared with 1929 but ;
every brokerage firm in the Capital
calls it "highly satisfactory.” In
vestment houses are also delighted ,
With the new security demand.
Store Sales Under Year Ago.
Due to the fact that Easter was '
on April 5 last year and comes on
the 25th this year, department store
sales in the Capital for the week
ended last Saturday, April 3, were
13 per cent lower than in the corre
sponding period a year ago, the Fed
eral Reserve Bank of Richmond re
ported today. Sales, however, were
8 per cent higher than in the pre
vious week this year.
Sales in the fifth district were off
7 per cent, 5 per cent in a special
group of reporting cities, but were
up to last year in Baltimore, the
report said. Compared with the
preceding week this year, sales in
the fifth district scored a 6 per cent
gain.
Cumulative sales in Washington
for the four weeks ended April 3
were 10 per cent under last year,
werf down 7 per cent in the fifth
district, 5 per cent in Baltimore and
2 per cent in the other cities, the
survey stated.
Cas Stock Quickly Sold.
The 21.024 shares of Washington
Gas Light $5 cumulative preferred
stock, recently offered the common
stockholders and the public, was :
heavily oversubscribed, it was an
nounced today.
The present Washington Gas
stockholders took 15 per cent or
3,500 shares of the stock, being given
until April 7 to put in tl»?ir sub
scriptions.
The remaining 17,500 shares was
offered the public by Washington
investment firms, the underwriting
group including Y. E. Booker & Co.;
Johnston. Lemon Sc Co.: Alexander
Brown Sons; Mackall Sc Coe; Rob
inson. Rohrbaugh Sc Lukens; Auch
incloss, Parker Sc Redpath; Folger,
Nolan & Co.; Brown. Goodwyn &
Olds; Ferris, Exnicios Sc Co.; and
Robert C Jones Sc Co.
The stock was offered the putsc
several days ago on an "as, if and j
when issued basis,” a majority of i
the shares being taken in Washing
ton. Stock was also sold in New !
York. Chicago and as far away as j
the Pacific Coast. It was priced at
$100 a share and accumulated divi
dend. I
Penn Central Has Fine Year. |
C. Bedell Monro, president of i
Pennsylvania Central Airlines, re- j
ported today that net income in 1942 j
amounted to $408,055, compared !
with $127,284 in 1941. Operating
profit of $350,228 was substantially
ahead of the preceding year.
Personnel expanded from 293 to
2.000 employes during the year and
the company has done a great deal
of flying in the military effort.
The growth of the company has
been sensational, from an operation
spanning but 127 miles in 1927 to
its present schedule of some 35.000
miles, linking Washington with
many of the mast important indus
trial cities of the country.
The common stock is soon to be
switched from the New York Curb
to the New York Stock Exchange,
it was announced today.
Aviation Corp. Reports
Net Above Year Ago
By the Associated press.
NEW YORK, April 9.—Aviation
Corp. reported for the three months
ended February 28 consolidated net
income of $1,103,218, equal to 19
cents a share, compared with $1,002,
844 or 17 cents a share in the first
quarter of the 1942 fiscal year. The
company said that earnings for the
latest period were subject to possi
ble change from contract renegotia
tion.
Directors declared a dividend of 10
cents a share payable April 30 to
holders of record April 19. The
company paid 10 cents a share in
April last year and 15 cents In De
cember.
Consolidated net sales for the
quarter totaled $19,177,566 against
$7,274,968 a year ago.
Odd-Lot Dealings
PHILADELPHIA. April 9 i#\.—The Se
curities Commission reported today these
transactions bv customers with odd-lot
dealers or specialists on the New York
Stock Exchange for April 8 ft.444 pur
chases involving 149.MBS shares; ft.:»90
sales Involving 14M.897 shares, including
67 short sales involving 984 shares.
Make a raid on your pocketbook
bo that we can raid the Axis. Get
your War savings bond or stamps
Bow.
J. C. Penney Volume
Well Above Year Ago
By the Associated Press.
NEW YORK, April 9.—J. C. Pen
ney Co. today reported sales of $35,
516,976 in March, compared with
$32,348,437 in the same month oi
1942, or an increase of 9.8 per cent
Sales in the first quarter of 1943
were $98,134,625 against $88,362,174
in the like 1942 period, or an in
crease of 11.06 per cent.
Prices
(Continued From First Page.)
that there was no meat to be had
and shortly after there were scream
ing headlines that there was so
much meat it was spoiling.
Mr. Roosevelt said he believed
every one should avoid overplaying
either scarcity or plenty because
that is not good for public morale.
We will have trouble, he said, if the
public stops buying all at one time
or tries all to buy at the same time.
After declaring that probably dol
lars and cents price ceilings would
be placed on foods, the President was
asked whether that would extend to
things in department stores.
His reply was that the things de
partment stores handle are not all
edibles.
Questioned as to whether the con
trol woula extend to clothing, he re
marked there is no present need of
clothing, then, amid a burst of
laughter, amended his statement to
say there was no need of putting a
ceiling on clothing.
Prices to Be Displayed.
Under the plan the OPA is work
ing on, Mr. Byrnes declared, it will
be possible for the purchaser to see
the ceiling price in the store on
the article he wants to buy, and
the prices will appear in advertis
ing. The housewives, he said, will
have to do the police work. -
The press conference discussion
about ceilings on clothing prices
overlooked the fact that clothing is
one of the products designated by
OPA as “cost of living" items and
placed under price control, usually
on some formula basis such as the
highest charge in March, 1942,
rather than a dollars-and-cents
basis.
OPA in the past has avoided gen
eral definitions, but has specifically
designated hundreds of items as be
ing examples of cost-of-living items.
Other Items Listed.
Among those so designated are
cigarettes, packaged household
drugs, toiletries, infant food, ice
cream, clothing and shoes, meat and
nearly all other grocery store items,
and household electrical appliances.
Among the items which have not
been designated as cost of living
items but which are nevertheless
under price control are pianos,
washing machines and vacuum
cleaners.
Some common Items in household
budgets are exempted by law from
price control. Doctor and dentist
bills are examples. The law also
exempts such charges as admis
sions and advertising rates.
It is up to Food Administrator
Chester C. Davis. Mr. Byrnes said, to
determine whether all fresh vege
tables affect the cost of living and
so will be brought under price ceil
ing. Some minor vegetable might be
omitted, he remarked.
It is also for the food adminis
trator to determine whether grade
labeling of canned goods will be
involved, based on a decision
whether this would affect prices to
consumers.
Mr. Byrnes said the food prices
would be applied at the retail level
ratter than at the farm, unless some
law requiring fair margins makes it
necessary to fix prices back of the
retail level.
■'To what extent do you antici
pate being able to roll back prices?”
Mr. Byrnes was asked.
He said Price Administrator Brown
hopes it could be done in a number
of cases, but that he <Mr. Byrnes)
could not say just how extensive
this might be.
New WMC Powers.
When a reporter inquired whether
the sweeping presidential order
meant that workers were more or
less frozen to their jobs in essential
industries, Mr. Byrnes responded
that the War Manpower Commis
sion section of the presidential order
was designed to make clear that
the WMC chairman has power to
do what he has attempted to do to
some degree. The WMC chairman
has enlarged powers under the
order, Mr. Byrnes said.
Mr. Byrnes mentioned farm labor
at one point, saying he had asked
Mr. Davis to review the wage struc
ture, determine whether it should be
changed and see if a ceiling was
necessary.
Sweeping Order.
In last night's sweeping executive
order, Mr. Roosevelt froze wages at
the “little steel” formula level, ex
cept where increases are “clearly
necessary to correct substandards of
living"; directed new commodity
price controls that ban advances un
less “imperatively required by law,"
and prohibited job-shifting solely
to obtain higher wages.
The order also directs all Fed
eral, State and local regulatory
bodies passing on the rates of utili
ties and carriers to take cognizance
of the new anti-inflation policy “so
that rate increases will be disap
proved and rate reductions effected"
in conformity with its terms.
Repercussions Waited.
Immediate repercussions were ex
pected both on the industrial and
agricultural fronts.
The order seemed certain to bring
a showdown between the adminis
tration and John L. Lewis, who is
demanding a $2-a-day increase for
his coal miners, and observers be
lieved it also would have a telling
effect on the wage demands of the
railway brotherhoods, who are seek
ing increases running into the mil
lions—the operating brotherhoods
demanding a 20 per cent advance
and the non-operatirtg, 30 cents
more hourly, with a minimum guar
antee of 70 cents.
There also is an important rate
proceeding before the Interstate
Commerce Commission that would
come within the scope of the order,
an application pending from the
Director of Economic Stabilization
and the Office of Price Administra
tion for suspension of the rate in
creases given to the railroads about
a year ago to compensate for higher
wages granted to the brotherhoods
at that time, when a strike was
threatened.
In promulgating what he de
scribed as a "hold-the-line" stabi
lizatlon order, Mr. Roosevelt said in
an accompanying statement that
"for some time it has been appar
ent that this action must be taken
because of the continued pressure
for increased wages and increased
prices.”
Explaining that he had heretofore
refrained from acting because his
authority to place ceiling prices on
certain commodities had been chal
lenged by supporters of the Bank
head bill, the President said that in
view of the recommittal of that
measure after his veto, he could
not wait to see if the Senate Agri
culture Committee will report it out
again.
"I cannot permit a continuance of
this upward spiral of prices,” he ex
plained. "Some groups have been
urging increased prices for farmers
on the ground that wage earners
have unduly profited. Other groups
have been urging increased wages
on the ground that the farmers have
unduly profited. Any continuance
of this conflict will not only cause
Inflation but will breed disunity at
a time when unity is essential.”
A companion to the Bankhead bill,
which would repeal the executive or
der directing that farm benefits be
included in the computation of pari
ty prices is the Pace bill, also in
the Senate, calling for the inclusion
of all labor costs in parity prices
for agricultural products
The new order is a further imple
mentation of the October 2 Stabi
lization Act and provides that all
the powers vested in the President
by that legislation shall be exer
cised by Mr. Byrnes.
The prescribed "little steel" wage
level permits increases to compen
sate for advancing living costs be
tween January 1, 1941, and May 1,
1942, but it takes away from the
War Labor Board the hitherto
exercised power to grant advances
that would top this level, which is
approximately 15 per cent, where
this has been necessary to iron out
inequalities. The miners received
an increase a year ago in excess of
15 per cent, but the wage advance
given to the rail brotherhoods
around that time was below that,
having been figured around 8 or 10
per cent.
Reasonable Adjustments.
The new restriction will not halt
“reasonable adjustments" where pro
motions, merit increases or reclassi
fication are concerned, and it also
permits “incentive wages,” which
have been discussed as an implement
for cutting down absenteeism and
boosting production in war plants.
This modification, however, was
accompanied by the requirement
that increases of this nature are “not
to increase the level of production
costs appreciably or furnish the basis
either to increase prices or to resist
otherwise justifiable reductions in
prices.”
Meanwhile, Mr. McNutt called his
aides into conference to prepare
regulations governing transfers to
higher-paying jobs.
Just how the commission could
control hiring throughout the Na
tion was uncertain, though Mr. Mc
Nutt has authorized his regional and
area directors to set up controls
over hiring—largely through the
United States Employment Service
—m areas where he believes it
would help solve manpower short
ages.
Only 50 Areas Controlled.
Thus far, control plans have been
established in only about 50 areas.
Twelve of the 36 areas, including
Washington, designated as having
most acute labor shortages still have
no plans in effect, but the system is
being extended to new areas con-,
stantly.
The plans are adapted to local
conditions and to adaquacy of WMC
and employment service staffs to
carry them out. In general, they
give these agencies supervision of
hiring by war plants and leave hir
ing by non-essential employers a
matter of conscience.
The WMC can force compliance
with its order by war plants by di
recting Government contract-award
ing agencies to invoke penalties or
cancel contracts of the disobedient.
Selective Service can be used to
enforce compliance in virtually all
quarters, either through grant or
cancellation of draft deferment.
In addition, the WMC can call on
any other Government agency to
use all its powers to back up the
WMC. Thus, the War Production
Board could be asked to withhold
materials from the disobedient, and
the OPA could be asked to impose
rationing penalties.
On the subject of prices, the order
directs the price administrator and
the food administrator—who as
sumes certain functions heretofore
exercised by the Secretary of Agri
culture—“to take immediate steps to
| place ceiling prices on all commodi
ties affecting the cost of living.”
They also are directed “to author
ize no further increases in ceiling
prices except to the minimum extent
required by law," and “to prevent
further price increases direct or in
direct, to prevent profiteering and
to reduce prices which are excessive
ly high, unfair or inequitable.”
| Here, too, adjustments are permitted
to meet seasonal or market area
variations, and to permit “such sup
port prices, subsidies or other in
ducements as may be authorized by
law and deemed necessary to main
tain an increased production, pro
vided that such action does not in
crease the cost of living.”
Government economists inter
preted the President's action on farm
prices as preventative. The proc
essed products sold to consumers
are already controlled rather thor
oughly.
In the statement accompanying
his orderi President Roosevelt again
called for more taxes to siphon off
excess purchasing power.
Saying that the stabilization law
“slowed up” inflation, and that “now
we must stop it,” the President con
cluded
"We cannot stop inflation solely
by wage and price ceilings. We can
not stop it solely by rationing. To
complete the job. Congress must act
to reduce and hold in check the ex
cess purchasing powers. We must
be prepared to tax ourselves more,
to spend less and save more. The
details of new fiscal legislation must
be worked out by the appropriate
committees of the House and Senate.
The executive departments stand
ready to submit suggestions when
ever the committees desire. I am
exerting every power I possess to
preserve our stabilization program.
“I am sure the Congress will co
operate.”
Notice to stamp ’ collectors—all
War savings stamps are genuine and
will increase in value.
United States Treasury Position
By the Associated Presa.
The position of the Treasury April 7 compared with correspond®* date a year
, . April 7. 1943. April 7, 1942.
Receipts - *75,220,969.44 *23.314,620.82
Expenditures ----—-- 304.812,751 61 110,280,356.04
Net balance - 3.166.172.387.27 3.133.139,352.89
Work®* balance Included - 2,403,549.905.07 2.372.175,675.34
Customs receipts foi month_ 6.923.869.34 7.247.484.43
Receipts fiscal year (July 1)_ 15,142.055.905.71 9.275.918,584.80
Expenditures fiscal year- 56.707.394:569.95 21.088.898.45330
Excess of expendituies- 41,565.338,864.24 11.810.981,888.50
Total debt . _120.232.154.371 28 68.411.143.415.89
Increase over previous day_ 229.229.473.06
Gold assets- *2,540.869,477.24 22,973.962.055.84
Pre-Easter Buying
Boosts Store Sales
Sharply in Week
Volumes Only Slightly
Below Season's Peak
Of Last Year
By the Associated Press.
NEW YORK, April 9.—Retail
trade volume picked up appreciably
this week, indicating that pre-Easter
buying rapidly was increasing after
recent declines, Dun & Bracfctreet,
Inc., reported today.
Sales were only slightly below last
year’s peak when the climax of
Easter shopping was near. Despite
unusually cold weather, country
wide volume was estimated at only
1 to 5 per cent under that of 1942.
Apparel and accessory demand
again touched the year’s high
reached in February and still was
rising, the business research organ
ization said.
Food sales still were lower than
pre-ration totals. Coat sales were
expanding steadily and equaling suit
volume in many stores. Unusually
good volume was chalked up in cot
ton dresses while blouses were one
of the best sellers of the week. Ac
cessories moved briskly.
Home furnishing sales failed to
taper off as usually in the case be
fore Easter and activity expanded
in small housewares, glass cooking
utensils, cotton floor coverings,
lamps and slip covers.
Regional percentage declines were
East, 6 to 13; New England, 3 to 7;
Midwest, 4 to 10; Northwest, 0 to 3;
increases were Pacific Coast, 6 to 11;
South, 0 to 2; Southwest, 8 to 14.
Stock Averages
30 15 15 RO
„ Indust. Rails. Util. Btfcs.
Net change —2.3—1.7 —.9—1.9
Today, close 66.9 23.9 31.9 47.4
Prev. day.. 69.2 25.6 32.8 49.3
Week ago.. 69.1 25.0 32.2 49.0
Month ago. 66.1 23.0 31.4 46.7
Year ago... 49.2 15.6 22.7 34.2
1943 high.. 69.9 26.2 32.9 49.8
1943 low... 60.2 18.3 27.1 41.7
1942 high.. 60.6 19.7 27.5 41.6
1942 low_ 46.0 14.4 21.1 32.0
(Compiled by the Associated Press.)
Bond Averages
20 in in in
„ Rails. Indust. Util. F in.
Net change —1.0 unc. unc. +.1
Today, close 74.1 104.8 102.0 60.1
Prev. day.. 75.1 104.8 102.0 60.7
Week ago _ 74.8 104.5 102.0 60.4
Month ago. 71.8 104.7 101.4 53.4
Year ago .. 64.9 103.3 94.7 45.6
1943 high.. 75.4 104.8 102.1 60.7
1943 low... 64.6 103.8 98.0 53.2
1942 high.. 66.2 103.8 100.6 53.3
1942 low... 59.4 102.6 93.6 41.5
10 Low-Yield Bonds.
Close-113.7 Prev. day. 113.8
Week ago 113.7
M’nth ago 113.6 Year ago. 112.3
1943 high. 113.9 1943 low.. 112.6
1942 high. 113.2 1942 low,. 111.7
(Compiled hy the Associated Press.)
Exchange Wages Raised
NEW YORK, April 9 </P).—The re
gional War Labor Board yesterday
approved wage increases of from $2
to $5 for floor operators of the New
York Stock Exchange. The action
will increase the wage range of 384
non-members on the exchange floor
to $20 and $49 weekly, retroactive to
January 1.
NEW YORK CURB MARKET
Curb Stocks
N. Y. Curb quotations fur
nished by the Associated
Press.
Close.
Acme Wire ,25g 20
Aero Supply (A i 1.50 _ 2114
AeroSupply(B) ,10g 5
Ainsworth.25g 814
Air Associates .125g-. 714
Air Accessories .25e._ 214
Airway Elec .10g_ 2>4
Allied Products 2_ 27
Alumn Ltd (hRai_114
Alumn Ltd Pf (8)_106V4
Alumn Co Am lg_124
Alum Co Am pf <6)_lll'/s
Am Book .25g _ 28
Am Box Board ,25e_ 614
Am Capital (A> _ 1
Am Cent Mfg 25g 7
Am City PAcL A.375g . 30
Am Cit PAcL A n 34g- 29>4
Am City PwrAcLt (B> 2>4
Am Cyanamld CB) 60 38'4
Am Pork Ac Hoe ,25g_ 15'4
Am GasAc Elec 1 60... 24
Am G As E pf 4 75_107
Am General 15e_ 5>4
Am Gen pf (2) 3514
Am Laundry M BOg_2514
Am Lt & Trac 1.20_ 1614
Am Mfg .BOg . 341/4
Am Republics 35e_ 9>/«
Am Seal Kap .15g_ 4>/i
Am Superpower of_ 914
Am Writing Paper_ 314
Anchor Post P .1 Bg — 3
Appal El Pwr pf 4.80- 104
Ark Nat Gas _ 214
Ark Nat Gas (A) _ 214
Ark Nat Gas of OOe .. 914
Aro Equipment ,35g - 12>4
Ashland O At R .40__ 6
Atl Coast Fish ,25g _. 5‘4
Ail Coast Line 2.BOe.. 3614
Atlas Corp warrants .. 114
Atlas Drop Forge le._ 8'/4
Atlas Plywood .30g._. 17
Automat Prod _ 3H
Avery Ac Sons BOe_ 7>4
Babcock ft Wil .25* . 22%
Baldwin Loco pf 2.10- 33%
Baldwin Loco war .. 4%
Barium Stainless Stl . 2%
Bari ft Seeli*(Ail .20. 12%
Basic Refract .1 Og_ 5%
Beaunit Mills 00_ 10
Beech Aircraft 1#_ 12%
Bellanca Aircraft_ 4%
Birdsboro Fdy 1_ 9
Bliss (EWI <*> _ 14%
Blue Rldee Corn_ 2%
Blumenthal (S'_ 11
Bohack 1st pf lk _ 46
Borne Scryms 2.50e._ 27
Bowman Bilt 1 st pf _ 7%
Bow-Bilt Hotels 2dpf- 1%
Brasil Tr Lt ft P hie. 16%
Breese Coro 1 50e- 10
Brewster Aero _ 3%
Bridgeport Machine.. 4%
Brill (A) 4%
Brill Corp(B)- 1
Brill pf . - «2
Brit-Am Tob r* ,350e. 14
Brown Fft W lOe . 2%
Brown Fft W (A) lk. 13
Brown Form'n Dist . 13%
Brown Form D pf 1 k . 91
Brown Rubber Co .. 1%
Buckeye Pipe L .20*.. 9%
Buff Nia* ft * P of - 14%
Buff Nla* ft E P 1st 5. 90%
Runker Hill ft S (1).. 11%
Burry Biscuit _ 2%
Calif Elec Power 4%
Callite Tungsten .1 C*. 3%
Can Marconi h 04* .. 2
Carman (Al (21 ... 23
Carman (B> .25*- 7
Carrier Coro - 11%
Carter (JWi .00_ 7%
Casco Products le_ 8%
Castle (AMI la_ 19
catalin.ioe _ 3%
Cent Hud GftE1.34* . 8%
Cent N T Pow pf <5> _ 92
Cent Ohio Steel .35*.. 9%
Cessna Aircraft 1*_ 9
CharlsCoro .00 _. 6%
Cherry-Burrell .20* _ 10%
Chesebro 4 a . 98%
Chi Rivet ft M .125* .. 6%
Childs of _ 11%
Cities Service - 8
Cities Service of - 74
Cities Service pf B .. 6%
City Auto Rtp* .00 ._ 7%
Clev Elec Ilium .50*.. 32%
Clev Tractor 375*_1214
Clnchfleld Coal .25* . 10
Colon Develop _ 2%
Colonial Airlines -_. 5%
Col Fuel ft Iron war.. 3%
Colt's Pat F A .75* — 5^*4
Columb O A * of <5* - 4254
Community P S 1.60. 1854
Comp S M vtc .15* — 10'/«
Cons OAK Bal 3 60 3954
ConsGELAP Bo pJC 4 10754
Consol Gas Otil - 354
Consol M A 3 (hi a) .. 4054
Cons Retail Strs 35e - 3
Consol Steel .25* _ 854
Conti G A El pr pf 7 . 85
Conti Roller A 8 .50*. 1354
Cooper-Bessemer.50*. 1354
Copper Ranee 75e 6*4
Corroon A Reynolds .. 154
Cosden Petroleum_ 154
Cosden Petrol pfd 16
Creole Petrolm 50a . 21
C. W. Llquldatln* Co. 0'4
Crown Central P_ 354
Crown Dru* .05*- 154
Crystal Oil pf _ 754
Cuban Atl Sue 2.50e. 14
Darby Petrolm .75*.. 14>4
Davenport Hos .75* . 18
Dayton Rubber .50* _ 15
Dayton Rub <A) (2)_. 32
Dennis Mf* A .30* — 3
Dennis M pr pf 3a _ _ 31>/4
Derby Oil . 2
Det M ich Stove . 10*. - 354
Divco Twin T 25e_ 554
Domin Stl A Coal_ 854
Draper Corp (3) ... 6354
Driver-Harris 2.40 2654
Ea*le Picher Ld .10*. 954
Eastern Gas A Fuel . 2
East G A Fflpf 1.50k. 31'/a
Eastn GAF orpf 4.50. 58
Eastn Mall Iron 50* 24
Eastn States pf B 1754
Easy Wash M B .126e 454
Elec Bond A Share 5
Elec Bond A 8 pf (6). 6054
Elec Bond A S Pf (5). 58
Elec Pwr A Lt 2dpf A 1854
Eleetrofraphic ... 7
Emerson Elec 10*- 754
Equity Corp 154
Equity Cp S3 pf 1.50e 2954
| Esquire .20* _ 354
Eversharp Inc . . 15‘*
Fairchild Aviation le. 954
Fairchild EnaAAvlat. 254
Fansteel Metal 2Se_17
Fla Pwr A Lt nf (7)_ 855*
Ford (Can) A (hi)... 2054
Ford Ltd .107e 454
Franklin Co Dlst la_ 3
Froedt GAM .80_ 12
Fuller COA) 2e _ 1354
Fuller (GA)Of (4).._ 5854
Gen Alloyi__ 1
GenOAElcvpf B... 90
Gen Out Ad pf (6) __70
Oen Public 8vc pf ... 37
Oen Shareholdlncs... 154
Gen Share pf (6d>_ 70
Qa Power pf (8)_104
OtlehrUt ,25«_ •
Glen Alden Coal .40g. 15%
Godchaux S (Ai .5(lg. 35%
Godchaux Sub <B)_ 7%
Gorham Inc (A)_ 2%
Gray Ifta . _ 5
Great AAP n t 1.25b. 77%
Great AAP 1st pf 71 130
Great Nor Paper ,40b. 32%
Grocery Prod .loe_ 3%
Gulf OlJCorp (1)_ 42%
Hall Lamp ,30e._ 5%
Hartford Elec 2.75a_49
Harvard Brew 20e_ 1%
Hat Corp (B) ,25b_ 5
Hearn Dept 8tores_ 3
Recta Minina .25b_ 7%
Helena Rubensteln... 7%
Hewitt Rubber 25b _ 14%
Heyden Chem (new) .. 21%
HolllnBer Gold b.66_ 9%
Holophane ,45b _ 19
Humble 011 .375b_ 76%
Hussman L .00 . 4%
Huyers Del 1 st pf 11c_. 14
HyBrade Food ,30e_ 5
Ul Iowa Power __ 2%
111 Iowa Pwr div ct . 6%
III Iowa Pwr pf 625k. 34
Ul Zinc .05b 14%
Imp Oil Ltd (h.50)... 11%
Ind Service 0 pf_ 22%
Ind Service 7 pf_ 24%
Ins Co Nor Am 2.50_. 5%
Inti Hydro Elec pf_ 6%
Inti Indus _ 2%
Inti Petroleum (hi) . 15%
Inti Petrolm reg (hi). 16%
Int Products 75e_ 8%
Inti Utilities (A)_ 7
Inti Utilities pf _ 16%
Interstate Home Ea ... 3%
Interstate Power pf._ 3%
Iron Fire vtc 1 20_ 18
Jacobs Co _ 4%
Jeanette Glass_ 1%
Julian & Kok 2e _ 16%
Ken-Rad T A A .375e. 13%
Kennedy's HOg. _ 8
Kingston Prod .10_ 3
Kirby Pet .10e_ 3%
Koppers pf (6) 97
K-reuger Brew ,20g ._ 47*
Lake Shore Min b.80. 1274
Lakey Fdry Ac M .10e. 374
Lane-Wells ,25g_ 8>/«
Le Tourneau <11 28
Lehigh Coal Ac N ,0oe. 774
Lit Brothers _ 174
Locke Steel 1.20a_ 1474
Lone Star Gas 60e... 974
Long Island Lighting. 74
Long Island Ltg pf_ 3074
Long laid Ltg Df B . 2774
Louisiana LAcEx .10g . 674
Lynch Corn (2»_ 26
Margay Oil (1)_ 17
Marion Steam Shov_ 474
Mass Utilities Assoc.. 174
Massey-Harrts _ 7
Me Cord Rad (B>_ 27*
McWill Dredge ,25g.. 97*
Memphis Nat O 16e.. 374
Merr-Chap Ac Scott_ 77*
Mesabl Iron_ 1
M‘ch Sugar _ 74
Mich Sugar pf ,30k... 774
Micromatic H 20e_ 474
Mid St P A vtc ,45g .. S
Middle States PetiB). 174
Middle West Co .35e.. 874
Mldl'd Oil cv of ,25k.. 87*
Midvale Steel 60g_32
Midtwest Oil .80 ._ 8i/4
Mining Coro of Can _ l*/4
Missouri Pub Sv 40e. 7
Mock Judson ,25g_ 1074
Molybdenum .125g ... 8
Monarch Mach ,75g_ 2074
Monogram Pictures_ 174
Mont Ward A 7. ...167
Mount City Coo ,15g. 274
Mount Prod .60 674
Mount St Pwr 1.50 ... 16
Muskegon P R ,25g... 13
Muskogee ,75e _ 9
Nachman-Spg.25g_ 13
Natl City Lines 1_ 1774
Natl Container (1)__ 1074
Natl Fuel Gas (1)_ 107*
Natl Pwr AeLtpf (6). 99
Natl Refining _ 574
Natl Rub Mach 25g... 10
Natl Transit 1.25e ... 1374
Natl Tunnel A Mines. 274
Natl Union Radio_ 274
Navarro Oil 20g_ 1774
Neptune Met le __ 9
New Eng P A fi pf 2k. 3774
New Eng TAeT 1 50g .. 100
New Idea. Inc .GO_ 1674
N J Zinc 50g 63
New Mexico Ac Aril 2
N Y Hond Ac Ros 50g. 2274
N Y City Omnib war 474
N Y"Pwr Ac LI pf (fil _ 101
N Y Pwr Ac Lt pf (7) Ill
N T Shiobldg 3e . 19
N Y St E ft O PI 6.10 - 106V*
N Y Water Svc pf ... 48
Nla* Hudson Power _ 2(4
Nia* Hud Pwr 1st pf. 67Vi
Nia* Hud Pwr Zd pf _. 56
Nla* Sh Md (B) ,15e. 5?i
Nlles-Bem-P .60* . 11V4
NiptssingMLtd h.lOe lVi
Nor Am Lt ft Pwr of 59
Nor Am Rayon A .50*. 26>4
Northn States Pwr A. 6> 4
Novadel-Agene (2)... 20V4
Ogden Corn . 3?i
Ohio Brass (B) .35* .. 21V4
Ohio Edis pf (8)_ 93‘/«
Ollstocks ,35e _ 10H
Okia Nat O 1.40 18?*
Okla Nat Gas pf (3).. 49
Overseas Secur .30*_ 6Vi
Pac Oas A pf 1.60 32V4
Pac Pub 8 1 st pf 1 30 17>/«
Pantepec Oil _ 5Vi
Parker Pen <1) _ _ 21>/4
Parkersb'g R&R .25* 14?i
Peninsular Tel )2i 31V*
Penin Tel pf A 1.40 . 32Vi
Pennroad Corp Z5e . 4Vi
Penn-Cent Airlines_ 10?*
Penn Edison of 5_ 60
Pa Gas ft El A 1
Penn Pwr ft Lt pf (7) 92V4
Penn Wat ft Pwr (4). 54V4
Pepperell (10) 112V*
Pharls Tire ft R 30e 5
Phila Co 35* 8
Phillips Packinc ,60e. 5Vi
Phoenix Secur .. 16?i
Phoen Secur pf (3) _ 50?*
Pieree Governor BOe 9?*
Pioneer Gold ._ l?i
Pitney-Bowes .40_ 7V«
Pitts ft Lake E 5 60* 57
Pitts Plate Glsss.76*. 96
Plough Inc AO . __ 14
Polaris M ,03e_ ■»(<
Potrero Sugar 7?k
Powdrell ft Alex .15* 6>*
Pratt ft Lamb 40* . 25'*
Prosperity (B> 4%
Pug SPftL 5 pf 5k 108?*
PugetS d PftLSApf. 53
Pyrene .BOe _ 8V4
Quaker Oats (4)_ 85Vi
Radlo-Keith-Or ws... lVb
Rwy&LtSec .15* .. HVk
Raymond Cone Ma) 17
Raymond Cone of (3) 50 Vi
Raytheon Mf* . SVi
Republic Avlat .25*.. 4
Rheem Mfg <1) .. 10?*
Richmond Radiator.. 1%
Rome Cable .60 .. 9V4
Roosevelt Field .25*.. 2?*
Root Petroleum . 4V*
Royal Typew'r 1.50*. 59
Russeks 5th Ave 25*.. SVi
Ryan Aero ,56e 4?i
Ryan Consol Pet .20*. 5V*
Ryerson ft Baynes_ lVi
St Reels Paper_ 2?*
Salt Dome Oil .. 53%
Samson United Corn IV*
Savoy Oil _ 1
Schulte Inc_ I
Schulte (DA) pf_ 33
Scullln Steel 2_ 11V*
Selberling Rub .60*7
Selected Indus cv pf.. 7V4
Selec Ind pr pf 5,50__ 62
Seton Leather ,6Qe_ 6‘*
Shettuck .125*_ 3V*
Silexcorp(l) ... 13
Simplicity Patterns_ 2Vi
8olar Aircraft 20e_ 3V*
Solar Mfg Co .20e_ 2V*
Sonotone ,05a ._ .... 31-*
Soss Mfg Coro 4‘/»
South Penn Oil 1.60 . 44
Southl d Royalty .40 7V*
Spalding (AG) Co_ 2V*
Spalding 1st pf 2 __ 24V*
Std Cap & Seal ,2Se 4V*
Stand C&S cv pf 1.60 16
Stand Oil Ky(D ... 16
8tand Pwr & Lt pf .. 38V*
Stand Products .40* 8
Stand Steel Sprng2 _ 34»/*
Stand Tube (B) log IV*
Sterchi Bros .30g . 33*
Sterling Alum’m 00*. 8V*
Sterling Brew ,30e_ 21*
Stetson (JBi _ 5
Stroock & Co 2.50e 18V*
Sullivan Mach .75* 16V*
Sunray Oil .I0e 3‘/i
Sunray Oil cv pf 2.75. 47
Taggart _ 4
Tampa Electric ,40g .. 22
Technicolor . ... lov*
Texon Oil & L 10g._. 5
Thew Shovel .50g_ 22
Tilo Roofing .1 Og 5V4
Todd Shipyard ,50g _ 62
Trans-Lux ... 2V*
Transwest’n Oil 30* . #■*
Tublze Chatlllon ... 6V4
Tun* Sol Lamp 20e .. 33*
Tung-Sol L pf 80_ 9
Udylite Corn ,20e_ 2V*
Unexcelled Mfg 50 4
unit Cigar-Wh Strs__ lib
United Elastic ,35g 14
United Gas lib
Unit Gas pf 2.75k ... 1191b
United Lt & Pwr of _ 40
United Shoe M 2.60a. 68
United Sh M of 1.50 45»/a
United Specialties _ 5>/«
U S & Inti Sec pf Ik 69
U S Foil (Bl _ 47b
US Graphite 15g_ 8
U S Plyw pf 1 50 _ 291b
U S Radiator Corn_ 3‘b
U 8 Rub Reclaim _ 27b
Unit Wall Paper lOe.. 27b
Unlv Corn etc_ 17
Unlv Pictures ._ . 581b
Utah Idaho Sug 15g_ 27b
Utah P & Lt pf:i.501c . 541b
Utility Equities _ lib
Valspar pf 2.25e_ 27
Venezuela Petrol_ 47b
Vogt Mfg SO _ _ 9
Waco Aircraft 30e_„ 47b
W Va Coal * C .50*._ 4»b
Western Mr Lines 71b
Western Groc 1,10e . 9
Western Md 1st pf 7e 86
Williams R C ,30g 8
Wright Harg h.40 . 31b
Rates of dividends In the
foregoing table are annual
disbursements based on the
last Quarterly or semi-an
nual declaration. Unless
otherwise noted, special or
extra dividends are not In
cluded. a Also extra or
extras. d Cash or stock,
e Paid last year, f Payable
in stock, g Declared or paid
so far this year, h Payable
in Canadian funds, k Ac
cumulated dividends paid or
declared this year, ww With
warrants, xw Without war
rants.
Curb Bonds
Close.
Am Gas A El 2*4s 60. 10314
Am PAL 6s 2016 _ 101
Am Writ Paper 6s 61. 91*4
Apoal El Pwr 3V4S 70 10714
Ark Pwr A Lt 5s 66 _ 10814
Assoc El Ind ♦■is 63., 5914
Assoc G A E 6s 60_ 2014
Assoc G A E 6s 68_20
Baldwin Loco 6s 50 . 117
Sell Tel Can 6s 67 B 11514
Blrm Elec 4'is 68 10414
Can Nor Pwr 6s 53 9614
Cent States El 6>4s64 3414
Cent States El 5s 48 , 3414
Chi Rys 5s 27 c.o.d .. 5014
Clties-Svc 5s 60_ 93
Cities Stc 6s 68_ 9214
Cities Svc 5s 50 9074
Cities Sv P&L 57is52 907*
Conti Q & E 6s 68 A. 90
Cudahy 3 Vis 65 __ 1027*
Eastern U&F 4s 5RA . 87
Elec Pwr&Lt Bs 2030 9574
Federal Water 6 74s54 104
Florida P&L 5s 54 1047*
Gatineau P 3?'4s 6.9 947*
Glen Aiden C 4s 05 947*
Or Nor Pwr 5s 50 stn 10974
Idaho Pwr 37<s 67 __ Ill
111 Pwr A Lt 5s 56 C. 1047*
111 Pwr & Lt 671s 57_. 997*
111 Pwr A Lt fis 63 A 10674
111 Pwr & Lt 574854 B 1097*
Ind Hydro Elec 5s 58. 102
Ind Service 5s 50 A _ 84
Interstate Pwr 6s 52 . 457*
Interstate Pwr Bs 67 7974
Jackson Gas 5s42 stp 587*
La Pow & Lt 5s 57 _ 1087*
McCord Rad Rs 48 st. 96
Metrop Ed 4s 65 G 11074
Midl d Vail RR 5s 43 . 597*
Mllw G & E 4 Vis 67 . _ 1077*
Minn P & L 4 Vis 78 . 10674
Miss Pwr & Lt 5s 57. 10574
Miss Riv Pwr 6s 51... 112
Nebr Pwr 4Vis 81 ...109
Nev Cal Elec 5s 56 99
New Eng G A E 5s 50 58
New Eng G & E 5s 48 587*
New Eng G & E 5s 47 587*
New Eng Pwr 5Vis 64 917*
New Eng Pwr 5s 48 - 907*
Nor Con V 5Vis 48 A. 7474
Nor Ind P S 374s 60.. 10874
Ogden Gas Co 5s 45.. 1067*
Ohio Power 3V4s 68 1097*
Penn C Lt A P 4 Vis 77 1047*
Port G A C 5s 40 st 100
Potomac Elec 5s 56 E 11074
Pub Svc Ind 4s 69 _ _ 10674
Pub Svc N J ’6s ctfs 152
Shw W & P 4Vis 67 A 1037*
Shaw W&P4V4S70D 103
Sou Ind Ry 4s 51 . 6774
Spalding (AGl 5s 89 67
Stand G & E 6s 48 st 78
Std G A E 6s 48 rv st 78
Stand G A E 6s 61 A 787*
Stand G A E 6s 67 7874
Stand G A E 6s 66 B. 7874
Stand Pwi A Lt 6s57. 78
Starrett Coro 6s 80.. 307*
Tex Pwr A Lt 6s 66 . 10874
Tide Water P 6s 79 A. 98
Tw City RT 574*62 A 867*
Unit L&RyDel 6Vis52 997*
CJt Lt&Ry(Me>6s52A. 1167*
Utah PA1 6s 2022 A. 98
Utah P&L 4'is 44 9674
Waldorf Ast Hot 6s64 147*
FOREIGN. Close.
Denmark MB 5s 72 lx 47
Rio de Jan 6Vis 69 . 287*
Russian 6Vis 19 mat. 4
Russian 674* 21 mat. 4
International Paper
Reports $7,814,319
Profit for 1942
Earnings Far Below
$16,253,761 Recorded
For Previous Year
By the Associated Press.
NEW YORK. April 9,-The Inter
national Paper Co., whose mills have
the world’s greatest pulp and paper
making capacity, -reported today a
consolidated net profit for 1942 of
$7,814,319, against $16,253,761 in 1941.
The 1942 net, however, was calcu
lated after transfer to reserves of
$2,346,658 in profits of foreign sub
sidiaries, normally reported as part
of net income. Also reflected ift the
decline were increased costs. The
1942 net included $1,919,504 in
United States postwar excess profits
tax credit.
On the basis of the net reported,
indicated earnings per share of com
mon stock, after preferred dividend
payments, were equal to $1.75,
against $6.37 in 1942. The 1942
profits of foreign subsidiaries equaled
$1.29 on common.
Gross income for 1942 was $214,
109,218, about 2 per cent under that
of 1941. Tax provision of $26,194,500
equaled $14.36 a common share, and
compared with $31,149,577 in 1941.
The company noted that Canadian
tax settlement still lacked final ap
proval and that some direct and
indirect sales of 1942 were subject
tto United States renegotiation.
Curtailment of both production
and use of paper were reflected in a
decline of 1.4 per cent in total out
put to 2 614,944 tons of paper, paper
board and pulp against 1941's 2,653.
800 tons. Newsprint production, ma
jor item for the company’s Canadian
mills, dropped to 494.400 tons in 1942
from 518.232 tons in 1941.
I Business Briefs
New Steel Records were set In
March, when output of ingots and
castings reached 7,670,187 net tons,
nearly 90.000 tons above the pre
vious record set last October, and
the industry operated at 100'* of
capacity, according to the American
Iron & Steel Institute.
Passage of a Labor Draft Law
within four months, after a man
power squeeze in many areas within
tw'o months, and "probable con
scription of managerial personnel
for war and Government jobs are
predicted by the trade journal,
Factory.
Lendable Reserves of Federal Re
serve member banks increased $460,
000,000 in the last week and stood
at $1,980,000,000 on Wednesday, the
Reserve Board reported. Banks also
expanded holdings of Government
securities $630,000,000, of which $44,
000.000 was in bonds.
Rayon Yarn Deliveries in this
country amounted to 119,600,000
pounds in the first quarter. Rayon
Organon reported. This was 2%
above the same 1942 period.
Brokers’ Loans held by Reserve
member banks in New York City to
taled $536,000,000 in the week ended
Wednesday, a gain of $39,000,000 over
the previous week. A vear ago they
totaled $332,000,000.
Wholesale Prices contini*d to
climb last week according to the
Bureau of Labor Statistics index,
which rose 0.1'* to 103.4'' of the 1926
average. It was 5'*,'* above a year
ago. In the 1937 week it stood at
88.3 and in the 1929 period at 95.5.
Changes in Auto Models immedi
ately after the war will be slight.
President Alfred P. Sloan, jr„ of
General Motors Corp. told dealers.
S'oan warned the public might ex
pect a revolutionary type of car
with the advent of peace, but that
current probabilities indicate there
will be only such modifications and
improvements as can be made with
out important engineering develop
ments or changes in tools.
To Conserve Newsprint, the Wall
Street Journal has reduced the size
of its pages. Margins are smaller.
Width of columns also has been cut,
DUt not enough to change the aver
age amount of reading matter.
Sylvania Electric Products Inc.,
electrical products, has filed a regis
tration statement with the SEC
covering 175,000 shares of common
stock. Company plans to call for
redemption its outstanding 4'/2 per
cent cumulative convertible pre
ferred stock at $46 a share plus ac
crued dividends to the redemption
date upon issuance of the common
stock.
Dividends Announced
NEW YORK, April 0 UP).—Dividends de
clared:
Irregular.
Pe- Stk of Pay
Rate riod. record able.
Aviation Corn . 10c 4-10 4-30
Halle Bros ,15c 4-28 4-30
Interim.
Reynolds R J Tob 35c Q 4-20 5-15
Do. B 35c <3 4-26 5-15
Regular.
Barnsdall Oil 15c <3 5-14 6-R
Dominguez Oil Fields 25c M 4-16 4-30 I
Franklin Telegraph $1.25 S 4-15 5-1
Geliman Mfg _ . 1 Oc _ 4-10 4-24
McNeil * Libby _45c _ 4-10 5-3
Mid-Cont Pete _40c _ 5-1 6-1
Nu-Enamel _ ">,2c 6-15 6-30
Pac Aviation _ 5c 4-15 5-5
Pennsylvania Gas_24c Q 4-2 4-14
Rich's Inc . _ 75c <3 4-20 5-1
Washington Oil 50c 4-10 4-15
Foreign Exchange
NEW YORK, April 9 (3s).—Late foreign
exchange rates follow (Great Britain in
dollars, others in cents):
Canada: Official Canadian Control Board
rates for United States dollars: Buying,
lo percent premium; selling. 11 per cent
premium, equivalent to discount* on Ca- I
nadian dollars in New York of buying, 9.91 1
per eent; selling. 9.09 per cent.
Canadian dollar In New York open mar
ket. 911 per cent discount or 90.18a,4
United States cents, off cent
Europe: Great Britain official (Bankers’
Foreign Exchange Committee rates), buy
ing. 4.02; selling. 4.04.
Latin America: Argentine official. 29.77:
free. 24.15: Brazil, official, 6.05n; free.
o.20n: Mexico. 20.Win.
Rates in spot cables unless otherwise in
dicated. n Nominal.
Commodity Prices
NEW YORK. April 9—The Associated
Press weighted wholesale price index of '35
commodities today declined to 106.33.
Previous dpy, 106.58: week ago. 106.78;
month ago. 106.38: year ago. 99.27.
1943. 1942. 1941. 1939-40.
High __ 108.82 103.22 05.12 78.25
Low — 103.4.3 95.54 77.03 63.78
(1926 average equals 109.)
You can’t pop corn over a match
flame. You can’t build a house with
discarded barrel staves. And we’ll
never win this war with less than
all we’ve jot and the best we’ve got.
Buy War bonds.
MORTGAGE
LOANS
Favorable Rate
FIRST DEED OF TRUST ONLY
GEORGE I. BORGER
MS Indian* At*. N.W.
Natl >350
_ -_ ,
NEW YORK BOND MARKET
«. x. Bona quotations fur
nished by the Associated
Press.
tUDAY'S SALKS.
(Reoorted In Dollars.)
Domestic . _. 13 100 000
TREASURY. Close.
2s 1949-51 Sept 100 14
2bsl9fi3-68 .100 7
NEW YORK CITY. Close,
■is 1980 1038b
FORKIGN Close.
Agrl Mtg Bk Col fis 47 50
Antioquia 7s 45 B_ 188b
Antloquia 7s 45 C_ 108b
Antwerp 5s 68 __ 54
Argentine 4s 72 Feb.. 83
Argentine 4s 72 Apr.. 838b
Argentine 4bs 48_ 998b
Australia Bs B5_ 88
Australia Bs 57 _ 88
Australia 4'bs 56_ 848b
Brazil 8s 41 .. 53
Brasil fibs 1927-57.. 508b
Brazil fibs 1926-57.. 50
Brazil 7s 52 . 5084
Buenos Aires 48bs 77. 72
Bue Air 4 bs Aug 7fl . 71
Buenos Aires 48.S 75. 7684
Canada 4s 60 1068b
Canada 3V«s 61_103
Canada 3s fl7 1008b
Cl) Mtg Bk 6s 61 assd 2284
Chile 7s 42 assd_ 2384
Chile fis 60 assd_ 238b
Chile fis 61 Jan_ 2584
Chile fis 61 Jan assd 2384
Chile fis 61 Sent assd 238b
Chile fis 62 assd_ 2384
Chile fis 63 assd . 238b
Chil Mun Ln 7sfi0asd. 22
Colombia 3s 70_ 448b
Cuba 4bs 77 ..2... 8684
Denmark 6s 42 _ 64
Denmark Bbs 55_ 598b
Denmark 4bs 62_ 538b
Mexico 6s 45 asst _ . 1384
Mex 4s 1904-64 assd- 118b
Minas Gera fibs 58 . 328b
Minas Gera 684s 69 .. 32b
Oslo 4bs 55 77
Panama 5sfi3 std assd 82
Pernambuco 7s 47_ 28
Peru 7s 59_ 1984
Peru fis 60.__ 188b
Peru 6s 61 1884
Porto Allegre 8s 61 30
Porto Allegre 7bs 66 30
Rio de Jan 8s 46 _ 31
Rio de Jan fibs B3 .. 29
Rio Gr Do Sul 8s 4fi . 33
Rio Gr Do Sul fis fi8 . 308b
Sante Fe Prov 4s fi4 .. 80
Sao Paulo St 7s 40 .. 658b
Uruguay cv 3 8.s 79 _ 678b
DOMESTIC. Close.
Adams Es 4'is 46 std 1033*
Alb Pr W P 6s 48 ww 63
Albany * S M• Us 46 rg #7
Albany Pr W P Bs 48 63
Alley Corn 68 44 mod. 99Vi
Alley Com Bs 49 mod . 893*
Alleg Corp lne Bs BO . 72
Allied Stores 434s 51 . 103
Allls-Chalmers 4s 52 1083*
Am Ac For Pw 6s 2030 85
Am Intemat 634s 49 105V4
Am Tel Ac Tel 3>*s 81. 108V4
Am Tel Ac Tel 3s 56 ... 1103*
Am Toh-rro 3s 82 __ 103V4
Anglo-C Nit deb 87 .. 61
Ann Arbor 1st 4s 95 .. 66
Arm of Del 4s 67 _ 10534
Arm of Del 1st 4s 65 . 1053*
ATArSFe gen 4s 95 1143*
ATArSF adj 4s 96 stcd 100
AT&SFT C 3 L 4s 58 112V4
Atlanta Ac Blrm 4s 33 46
Atl Ac Ch AL 5s 44 1033*
Atl Coast L 1st 4s 52. 89
Atl CL LAcN cl 4s 62 .. 85'/*
Atl C L un 434 s 84 71
Atl Ac Dany 1st 4s 48. 423*
Atl AC Danv 2d 4s 48 36V4
B Ac O 1st 4s 48 std... 743*
B Ac O 95 A std_ 46
B Ac O 95 C std_ 51
B Ac O 2000 D Std_ 453*
B Ac O 98 F std _ 46
■ Ac O.cv 60s std_ 353*
B Ac O 1 St 4s 48_ 723*
BAcO PleAcWV 4S 61St 66
B & O 8 W 60s std _. 59'*
B Ac O Toledo 4s 69 . 58'*
Bang Ac Aro cn 4s 51 733*
Bell Tel of P» 6s 48 B 1023*
Bell Tel Pa 6s 80 C . 129'*
Beth Steel 3'/yS 52_.. 104'*
Beth Steel 3'/«s 65... 104
Beth Steel 3s 80 ... 1013*
Boston Ac Me 5s 67 _. 90
Boston AC Me 4 34 « 70. 51'*
Boston Ac Me 4s 60 84
Boston A NYAL 45 55 36*4
Bklyn Un Gas 5s 60 _ 88*4
Bklyn Un Gas 5s 45 . 105
Buff G A E 4 Vis 81 B 113*4
Buff Roch A P 67s std 45*4
Bur C R A N col 6s 34 18*4
Bush Term con 6s 55 70
Can Nat Rys 5s 70 __ 114*4
Can Nat 5s 09 July _ 108*4
Can Nat Rys 4*is 65. 114*4
Can Nat Ry 44s 61 . 110*4
Can Nat Rys 4'aS 60 113*4
Can Nat Rys 4*4s 57. 113H
Can Pac 6s 54 _100*/a
Can Pac 4'4s 00 _96
Can Pac deb 4s pern. 8114
Car Clin A O 4s 65 108*4
Celanese Corn 3* hs02 103*4
Cel Corp 4*4* 47 is 101*4
Cent of Ga rf 5'4s 59. 13*4
Cent of Ga 5s 59 C ._ 13*4
Cent of Ga con 5s 45. 37*4
Cent of Ga 1 st 5s 45 .. 85
Cent of G Ch di 4s 51. 45
Cent Ga Mobile 5s 40. 34*4
Cent New Ena 4s 61.. 82
Cent Pac 5s 00 68
Cent Pa 1st ref 4s 49 93*4
Cent RRofNJ an 5s 87 37
Cent RRNJ an 6s87rt 35*4
Cent RR of N J 4s 87. 32
Cerfteed deb 6'4s 48 . 99
C A O 3 VaS 90 D_104*4
Chi Alt ref 3s 49 . 25
Chi B A Q ref 6s71 A- 85*4
ChlBAQ4t4s77 ._ 77*4
Chi B A Q ten 4s 58 . 93*4
ChiBAO 111 div 4s 49. 100
CBAQ 111 dlv 3Ws 49. 97
Chi A East 111 inc 97 38*4
Chi G West 4>'*s 2038 43
Chi Great West 4s P8 72*4
Chi Ind A L gen Os 06 10*4
Chi Ind A l gen 5s 00 10*4
Chi Ind A L ref 4s 47. 39
CMASPAP 6s 75 .. 29*4
CMASP sdl 6s 2000 . 8*4
CMASP gen 4*4s89 C. 57*4
CMASP 4*/aS 89 E .. 58
CMASP 4s 89 . . _ 56
CMASP gen 3*4s 89 B 53*4
Chi A N W OVtS 30 56*4
ChlANW ref 5s 2037. 32*4
Chi A N W gen 5s 87 47*4
C A N W 4%s 49 .. 7*4
C A N W 4 *45 2037 32*4
C A N W 4VaS 2037 C 22*4
Chi A N W gen 4s 87 . 46
C A N W gn 4s 87 std 46
Chl&N Wgen3Vis87 45%
Chi ft N W 3Vis 87 r* 44%
CRlftP 4Vis 52_ 29
CRlftP 4 Vis 50 ... 8%
C R I ft P ten 4s 8?.. 46%
C R X ft P gn 4s 88 re« 44
Chi R I ft P ref 4s 34 26%
C Ter H ft 8 ref 5s 60 70%
Chi Dn 8ta 3Vis 63 102%
Chi ft W lnd 4V'«s 62. 101
Chi ft W lnd 4s 62... 100
Childs Co 6s 67_ 42%
Childs Co 6s 43 48
Choc O ft O con 6s 62 43
Cin Oas ft El 3'is 66. 101
Cln Un Term 3Vis 69. 112
CCC&StL ref 4‘is 77 58
CCC&StL WftM 4S 91 57
Clev El Ilium 3s 70 .. 107%
Clev Short L 4 Vis 81. 86
Clev Dn Term 5V4s 72 87%
Clev Dn Term 6s 73 . 79%
Clev Dn Term 4Vis 77 74
Col Sou 4 Vis 80 _ 37
Col Sou 4 % s 80 ct_ 37%
Col QftE 6s 62 Maj.. 99%
Col QftE 6s 61 ... 95%
Col ft H V ex 4s 48 .. 110
Com Ed cv db 3Vis 58 112%
Conn R Pw 3*is 61 A 109
Cons 011 3Vis 61 .. 104%
Cons Coal Del 6s 60 .. 100
Cons Ed N Y 3Vis 58. 108%
Cons Ed N Y 3V2s 58. 106%
Cons Rwrs 4s 54 . 44%
Consum Pwr 3'is 70 111%
Crucible Steel 3'/4S 65 96%
Cuba Nthn 5Vis 42 ct. 38%
Cuba RR 7'is 46 .. 45%
Cuba R R 7Vis 46 ct 37%
Dayton Pwr ft L 3s 70 106%
Del ft Hud ref 4s 43.. 67%
Den ft R Q 4Vis 36 . 38
Den ft R O con 4s 36. 37
Den ft R O W 6s 56.. 7%
Den&RQW 6s 55 asst. 7
Den ft RO ref 6s 78 .. 27%
Det Ter ft Tu 4>is 61. 95
Dul MftIR Ry 3Vis62 _ 107%
Elgin Jol ft E 3ViS 70 104
El P ft 8 W ref 6s 65 . 80
Erie gen 4Vis 2015 E. 57
Erie RR 1st 4s 95 B . 96
Firestone T&R 3s 61 . 101%
Fla East C Ry 5s 74 29%
Fond J ft Q 4s 82 filed 8%
Oen Stl Casting 6s49 . 99%
Gaft Ala 6s 45 ... 31
Ua C A N t St US 34 .. 4SV4
Goodrich BP 4'/*s 60 105Vi
Great Nor Ry 6'bs 52 109>b
Great Nor Ry 5s 73 100‘b
Great N Ry 4 Vis 7fi D 93
Great N Ry 4',is 77 E 93
Great Nor Ry 4s 40 O 10344
Great Nor Ry 4s 4fl H 102v«
Great Nor Ry 341s 67 85>/«
Green Bay St W deb B 14
Gulf Mob St N 64%s50 96
Gulf MAO ref 4s 75 B 70
Gulf St Util 3'is 69 . _ 1104b
Har R A‘P 4s 54 954b
Hudson Coal 6s 62 A 40
Hudson Co G Istos 49 118
Hudson A M ref 5s 67 59
Hudson A M Inc 6s 57 26
111 Bell Tel 2\s 81_ — 1021b
111 Cent 4s 52_ 6244
111 Cent 4s 53 _ 59
111 Cent ref 4s 55_ 50
111 Cent 4:V„« 66 _ 5144
111 Cent ref 5s 65_ 65'b
111 Cent Lou 34bs 63.. 73
111 Cent Lou 3'b 53 r«. 68>b
HI Cent West L 4s 51 7344
I C C StL N O 5s 63 A 57
I C C StL N O 4'bS 03 52'b
Inland Steel 3s 61 ._ 1044b
Int Gt Nor adj 0s 52. 15
Int Gt Nor 1st Hs 52.. 36V*
Int Gt Nor 5s 50 C 34
Inti Hydro Elec 0s 44 51Vb
Inti Tel A Tel 4'bs 62 71
Inti Tel Sc Tel 6s 65 744b
Iowa Cen IstArf 4s51 4V4
J town Fr A Cl 4s 59. 60
Jones A Lau 3V*s 61. 9544
Kan C FtSAM 4s 30 . 79
K C S ref A inc 6s 50. 77
Kan C Sou 1st 3s 60.. 724b
Kings Co Lt 6' as 54 ._ 108
j I.aclede Gas 5Vas 53 90
Lake SAM So 3'bs 97 89
: Lautaro Nitrate 1976 61
I Leh New Eng 4s 65 ... 96'b
LehC St N 4Vis 54 A.. 8644
Leh C A N 4'bs 54 C . 85
Leh Vail Har T 6s 64. 60
I Leh Vail N Y 4'bs 50. 70
i Leh V RR 6s2003 st 48
! L V RR 6s 2003bt reg 44'b
LVRR cn 4'bs2003 st 42V*
LVRR cn 4'as2003 s r 4244
Leh V RR 4a 2003 std 3844
LV RR 4s 2003 st reg 38>4
Lex Ac East 6s 65 - 11744
Lib MeN Ac Lib 4s 55_ 106*/a
Long Dock 344s 50 - 10444
Long Isld ref 4s 49 101
Long Isld ref 4s49 std 101
Long Isld unif 4s 49 10044
La Ac Ark 6s 69 9244
Lou Ac Nash "5s 2003 105'/a
Lou Ac Nash 4s 60 10944
Lou At Nash 334s 2003 89
Lou Ac Nash 31 is 60 - 10444
Lou Ac N 8 M Jt 4s 52 97'4
Maine Cent go 444S0O 5644
Manatl Sugar 4s 57-- 57
Market St Ry 5s 45 - 9744
McKessAcR3'/as 66 10744
Met Ed 1st rf 4‘aS 68 113>i
Mich Central 4'is 73. 6844
Mid RR N J 5s 40 . 59
Mil Nor con 4'as 39 - 49
Ml Spa As N W 4s 47 .. 40
Minn Ac StL ref 4s 49. 6
MSPdcSSM ref 6s 46 . 744
MSPdcSSM con 5s 38 - 2344
MSPdcSSM gtd 6S 38- 2244
MSPdcSSM con 4s 38 - 2244
Mo K dc T 6s 62 __ 56
Mo K dc 1 adl 5s 67__ 35
Mo K dc 1 444s 78 51
Mo K dc T 1st 4s 90-- 554/»
Mo K Ac T 4s 62 B_ 4944
Mo Pac 544s 49 A_ 1044
Mo Pac 5s 65 A_ 4844
Mo Pac 5s 77 P _ 4844
Mo Pac 6s 77 P ctfS-_ 4844
Mo Pac 5s 78 O_ 4844
Mo Pac 6s 80 H_ 4844
Mo Pac 6s 81 I_ 4044
Mo Pac 4s 76 1644
Mohawk dc M 4s 91 _ 5844
Mono Ry 1st 3'4s 66 . 10444
Mor Ac Essx 6s 65_ 4744
Mor dt Esx 4'is 65 - 4344
Mor dt Esx 34is 2000. 4844
Nash C dc St L 4s 78. 78
Natl Dairy :/>,4s 00 10644
Natl Dstillers 34is 49 102*4
New Eng RR cn 5s 45 0144
New Orl P S 5s 52 A 10744
New Orl P S 6s 55 B 107
New Orl dc N 44is 52 91
New Orl Ter 1 st 4s 53 89'i
New Orl TdcM 6'4s54 66
New O TdcM 5s 35 A 53
N Orl TdcM 5sS4 B ct. 61
N T Cent ref 6s 2013 62' k
NY C ref 444S2013 A 57'/4
N Y Cent eon 4s 98 6144
N Y Cent 38bs 48_1008*
N Y Cent 3tis 87_ 83t*
N Y Cent 3 tbs 63-. . 708b
X Y Cen L Sb 3til 98. <7
NYC Mich C 3tb! 98 63
N Y Chi A StL 6l 60 100**
NYCASL rf 6 til 74 A 888*
N Y Cb A StL 4 til78. 76t*
N Y C A St L 3til 47. 101'*
N Y Conn lit 3tii 06. 102
NY Dock let 4s 61 711*
N Y Edison 8tbs 05 D. 1068*
N Y Edison 3 tbs 66 10*
N Y Lack A W 4tbi 73 70>/i
N Y Lack A Wn 4s 73 70t*
N Y N HAH cl tr 6s40 83
N Y N H A H ev 01 48 *9
N Y N H A H 4til 07- 43'*
N Y N H A H 4s 66_ 44'*
NYNHAH4S50 44'*
N Y N H A H 4s 57 .. 14**
N Y N H A H 3M>s 47. 42
N Y N H A H 3tbs 64. 42'*
N Y N H A H 3 tbs 66. 42>*
N Y O A W ref 4i 93. 10'*
N Y O Am cen 4s 65. 3
NYS AW Ter 5s 43- 88
N Y W A B 4tis 40... 15
Niac Share 5ths 50... 105
Norf Sou CT 6 2014 .. 45'*
North Am Co 3tis 49. 1048*
Nor Pac 0s 2047 ... 73
Nbr Pac 6s 2047 C— 04
Nor Pac 6s 2047 D_-» 04
Nor Pac 4'is 2047— 59'*
Nor Pac 4s 97 ..84
Nor Pac cen 3s 2047. 49
Nor Pac 3s 2047 rec . 48
Nor Stat Pwr 3'*s 67. 1098*
Ocden L C 4s 48_ 14>*
Ohio Edison 4s 65 .. 109>*
Okla Gas A El 4s 48 . 1038*
Okl Gas A El 3*41 00- 1088b
Ore-W A N 4s 61_107'*
Otis Steel 4tbs 62 A . 100'*
Pac G A Elec 8'bs 66. 109»b
Pac Oas A El 38bs SI. 1118b
Pac Gas A El 4s 64 1118b
Pac TAT rf 3 tbs 66 B 1098b
Param Brdy 3s 55 ct. 75
Paramount Pic 4s 50. 104'*
Parmelee 6s 44 _ 83
Penna Co 4s 52 E . 1008*
Penn G1 Sand 3 '/as 60 103'*
Penn Pwr A Lt 4*,bs74 104
Penn Pwr A L 3tbs 69 108
Penna RH gen as 68 112
Penna RR gen 4 Tbs 65 106
Penna RR cn 4'4s 60 121>4
Penna RR deb 4Vbi 70 95V*
Penna RR 4>/« 81 __ 10274
Penna RR 4>/4l 84 E . 1027b
Penna RR con 4s 48-. 1097*
Penna RR 374* 70_ 957b
Penna RR 3V4« 62 _ 97
Peoria ft E 1st 4s 60.. 55*4
Peoria ft E Inc 4s 00.. 1174
Pere Mara 1st 6s 66.. S3
Pere Mara 4Vbs 80 . 72>4
Phelps Dodge 3 Tbs 62 1057*
Phila Co 4‘,4« 61 _1027b
Phlla Elec 3‘bl 67_11174
Phila Elec 274s 71 ... 102V*
Phlla ft R CftI 6s 40 127*
Phila R CftI 5s73 st0_ 297b
Philip Morris 3s 63 1047b
Philippine Ry 4s 37 . 6
PhillipsPetrol 17i« 61 101
P C C ft St L 4Tbs 77. 10474
Pitts Steel 4'aS 50 . _ 987*
Pltts&WVa 4 tbs 68 A 63
Pitts&WVa 4 Tbs 50 B 63
Pltts&WVa 4’bs 60 C 63V*
Portl'd G E 1 st 5s 60. 10674
Portl’d Gen El 4yas60 94
Reading 47bs 97 A_ 8674
Reading 4<4s 97 B... 8674
Rem Rand 3'bs 66_104>4
Rep Steel 47bs 61_104
Rep Steel 4 Tbs 56_104
Rio Gr Wn 1st 4s 39. 7674
Rio Gr Wn col 4s 49 . 40
R 1 A ft L 1st 4‘4S 34. 307*
Rutland Ry 474541 st 12*4
Saguenay Par 4'4s 66 1017b
SLIM&SR&G 4s 33 ct 86
St L Pub Svc 5s 69--. 93>4
St L-S P 6s 60 B_ 32>4
St L-S F 4 Tbs 78_ 327*
St L-S P 4 ‘4s?8 Cts St 3214
St L-S F 4s 50 A _ 30*4
St L S W 6s 52 _ 61
St L S W ref 6s 90... 3874
St L S W 1st 4s 89_„ 937*
St L S W 2d 4s 89 .. 79*4
St P E Gr Tr 4Tbs 47 . 13
St P K C St L 47*s 41. 2714
Seabd A L Us 46 A .. 247b
Seabd A L 6s 45 ctfs.. 237*
Seabd A L adl 6s 49 . 10Tb
Seabd A L 4s 60 stpd. 4414
Seabd A L ref 4s 69 23Vb
Seabd A L ref 4s 59 ct 237b
Sea A-Fla 6S3B A els. 26
Shell Un 011 2 VaS 54 .. 99%
SUesian-Am 7s 41_ 41%
Simmons Co 4s 52 104
Socony Vacuum 3s 64 105%
South Bell TAT 3s 79 107%
Sou Col Pwr 6s 47 A-. 104
Sou Pacific 4%s 68_ 63%
Sou Pacific 4'%s 81... 60
Sou Pacific 4Vas 69 61%
Sou Pacific ret 4s 55. 84
Sou Pacific col 4s 49 .. 85%
Sou Pacific 3J,ks 46 97%
Sou Pac Ore 4 VaS 77 . 65%
Sou Pacific SFT 4s50. 96%
Sou Ry 6%s 56 99%
Sou Ry gen 6s 66_ 95%
Sou Ry 6s 94 100*%
Sou Ry gen 4s 56 A - 78
Sou Ry Mem div 5s58 92%
Sou Ry St L div 4s51 97
Southw Bel T 3s 68 C 107%
Stand Oil (NJ) 3s 61 104%
Stand OH <NJi2j.4S 53 105
Texarkana 5%s 50 92%
Texas Corp'n 3s 85.. 106
Texas Corp'n 3s 59_105%
Tex A Pac 6s 77 B... 80%
Tex A Pac 6s 79 C... 80%
Tex A Pac 6s 80 D . . 80%
Third Ave adl In 6s60 25
Third Ave 4s 60 .. 65%
Tol StL AW 4s 50.. 97
Un Pacific 1st 4s 47_. 108%
Un Pacific 3 VaS 71_101%
Un Pacific 3'/as 70 . 101
Unit CgrWhel S 5s52. 98
Unit Drug 5s 63 .. 101%
Utah L A T 5s 44 A . 99
Utah Pwr A Ut os 44. 98%
Va S W con 6s 68 . 83
VaR 1st rl3*ks66A 108%
Wabash 4V4s 91 _ 40
Wabash RR ’.en 4s81. 48%
Wabash RR 4s 71_ 93%
Walworth 4s 65 94%
Warner Bros 6s 48 102%
Warren RR 3'.is 2000 41
West 3ho 1st 4s 2361 60%
West S 1st 4S2361 reg 55%
Westch Lt gn 3v2s 67 109%
West'n Md 5%s 77 .. 98
West'n Md 1st 4s 52. 92
West'n Pac 5s 46 A 64%
West'n Union 4'is 50 93%
i Westhse Elec 21 «s 51 101V*
Wls Cent 1st gn 4s 49 60
Wls C SAD Ter 4* 36 20%
Ygstwn S A T 4s 48 . 102%
Yastwn S AT 3‘'45 60 98%
United Corp. Earnings
Fall Behind Year Ago
By the Associated Press.
NEW YORK. April 9—United
Corp., utility investment concern,
reported net income for the quarter
ended March 31 was $911,132, equal
to 36 cents a share on the $3 prefer
ence stock, against $1,185,528 or 47
cents on the preferred shares in the
comparable quarter of 1942.
United Corp, reported investments
had an indicated market value on
March 31 of $87,845,250, against
$49,131,876 a year earlier. Book ac
count on March 31 was $148,181,823,
against $148,414,938 a year earlier.
Tide Water Associated
Earnings Reduced
By the Associated Press.
NEW YORK, April 9 —Tide Water
Associated Oil Co. reported its 1942
profit was $10,663,930, equal after
preferred dividends to $1.32 a com
mon share. Out of the year's profits
the company made provision of $1,
250,000 as a precaution against war
time uncertainties and $1,300,000 for
possible decline in inventory values.
Three ways in which we
can be helpful in home
financing:
• for the purchase of a home
• for refinancing a maturing trust
• for making major repairs.
These can all be done through our flexible
Monthly Payment Plan—with payments of
principal and interest conveniently budgeted.
Interest payment is figured only on existing
balance.
It has also attractive pre-payment privileges.
We’ll be glad to talk it over with you.
Til TENTH STREET, N. W. NATIONAL 0254