Evening Star Newspaper, April 17, 1940, Page 20

A—20 sxxx FINANCIAL. D. C. Insurance Sales Down 5 Per Cent THE EVENING STAR, WASHINGTO! D. C, WEDNESDAY, APRIL 17, 1940. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Btar. 2:30 p.m. 280!-. Do Prev. 1040 Stockand Bales— Bales— Low. _ Dividend Rate 4goo. B, FINANCIAL Rising Tendencies Prev. 1940 Stock and Prev. 1040 Stock and High Lo- Dividend Rate. Net. High. Low. Dividend Rate, Prev. 1040 Stock and Net. Low. Close. tnu Close. chge. From Year Ago First Quarter Volume 17 Per Cent Rehind Same 1939 Period By EDWARD C. STONE. Life insurance sales in Washing- ton in March totaled $5,031,000 and disclosed a 5 per cent drop from March, "1939, the Life Insurance Sales Research Bureau, at Hart- ford, reported today. The record was not quite up to February when sales came within 1 per cent of the total new business for February, 1939. March business brought the total for the first quarter of this year up to $14,326.000 a decrease of 17 per cent from the like period a year ago. Most of this drop was experienced in January, a 34 per cent tumble, due to the fact that an unusual volume of business was paid for in January, 1939, just prior to rate increases by many com- panies. The Capital's March 5 per cent decline comparés with a nationad average decrease of only 2 per cent on a total volume of $567,872,000. ‘The average for the Nation was also ahead of the Capital, in the first quarter, new policies amounting to $1,591,706,000 a decrease of only 14 per cent. Virginia Leads States. Virginia made the best showing in March of any State in this territory, new policies totaling $8,- 537,000, a jump of 12 per cent over March, 1939. In the first three of the present year, Virginia policies amounted to $21924,000 which was 12 per cent below the first quarter record in 1939. Maryland reported March sales as $8,053,000, only 1 per cent under the 1939 mark. In the first quarter Maryland agents wrote $22,867,000 new business, 11 per cent under last year. In North Carolina sales totaled $8,082,000 in March, off 4 per cent, while South Carolina scored an 8 per cent gain on a volume of $3,816,000. West Virginia was up 2 per cent in March business which amounted to $4,681,000, sales in the first quar- ter reached a total of $13,838,000 and came within 1 per cent of the 1939 mark. Sales in Washington, by months in 1940 compare as follows with the corresponding months in 1939: 1940 1939 -$4,671,000 $7,183,000 February ... 4,624,000 4,628,000 March ______ 5,031,000 5,240,000 Prudential 11 Years Old. The Prudential Building Asso- ciation, which opened for business on April 17, 1929, is celebrating its 11th birthday, proud of its steady growth which has brought total fiem up to $3.250,000, according to January cretary E. J. Carlson. Undivided ‘brofits, surplus and reserves now stand at $180,000. The organiza- tion is a member of the District and United States Building and Loan Leagues. The association has specialized in the deyelopment of the suburban metropolitan district and was the second association in Washington to become a member of the Federal Savings & Loan Insurance Corp., which protects all accounts up to $5,000. Prudential officials include Lu- ther C. Steward, president; Curtis ‘Walker and John B. Colpoys, vice presidents; E. J. Carlson, secretary- treasurer; C. H. Boyse, assistant sec- retary-treasurer, and Harvey L. Cobb, attorney. Directors are: T. Howard Duckett, ‘Thomas E. Hampton, Thomas D. Lewis, F. Eliot Middleton, William P. Ames, and Messrs. Colpoys, Cobb, Steward and Mr. Carlson. Peoples Drug Stock Listed. The new Peoples Drug Stores $5 par value common stock, to the extent of 490948 shares, was listed on the Washington Stock Exchange today, taking the place of the 245,474 no par value common stock which had been on the exchange. The ex- chapge registered 20 bid for the stock, with none offered. The old stock sold in New York yesterday at $40 a share on a sale of 110 shares. Resources of the 22 insured com- mercial banks in the District of Columbia totaled $411,043,000 on De- cember 30, 1939, according to a sur- vey made public today by the Fed- eral Deposit Insurance Corp. De- posits in the insured banks were listed as $361,541,000. Demand de- posits amounted to $247,084.000, and time deposits totaled $114,457,000. Loans and discounts amounted to $112442,000, an increase of $12.663,- 000 over the December 31, 1938, total, Resources of Maryland Banks. The corporation reported re- sources of the 174 insured com- mercial banks in Maryland to- taled $726,746000 on December .30, 1939. Deposits totaled $658,- 622,000, made up of $545,804,000 demand and $203,818,000 time de- posits. Loans and discounts of the re- porting banks amounted to $168,- Hizh 9 19t 58 7 1% 14% 121y 24% 12% 182 15 8 133 1161 3219 513, 231y 138 84 1419 2% 24y 28 41% 6% 661 3% 35 6% 224, 25 89 913, 15019 3 12% 4T 8in 32 41y 22% 114 % 110 % 598 351y 85% 97x 36% 221y 8374 341y 221y 11% 23V 28% 28 12313 284 143, 50 35% % k3 11 16'% 12412 115 17 0% 62 Low Dividend Rate 74 Adams Express.___ 17% Addressog'ph 1.40__ 48 Air Reduction (1a) . 6 Alaska Juneau .60.. % Alleghany Corp .. 10% Allegh’y $30 pf ww. 92 Alleghany pf xw . 18 Alleg-Ludlum .25e. 914 Allen Indust (.25e). 171 Allied Chem (6) 131 Allied Mills T% Allied Stores _ __. 3415 Allis-Chalmers 25e. 14% Alpha Port (.25e).. 1% Amaig Leather 53 Amerada (2) ___. 413 Am Afrlines 97 Am Bank Note 46 Am Bank N pf (3 5 Am Bosch 1302 Am B:; Shoe pf 5. 25_ 112 AmCan «4) 2315 Am Car & Foundry. 381y Am Car & Fdry pf__ 19% Am Chain & C .80e_. 133 Am Chicle (4a) - 6% Am Comc'l Alcohol.. 10's Am Crvstal Sugar _ 1% Am & Foreign Pwr 18 Am&F P 6% pf.60k 21% Am & F P 7% pf.70k 287 Am-Hawia n §S (1) 44 Am Hide & Leather 56% Am Home Pr (2. 0) 2% Am Ice 24% Am Ice pf (.50e) __ 5 Am International._. 18 Am Locomoti 51tn Am Locomotive pf. 22 Am Metals (.76e) _. 3 Am Power & Light_ 43 Am P&LS$5pt 1875k 514 Am P&L $6 pf 2.25k 8% Am Radiator 13% Am Rolling Mills 64% Am Roll M pt (3k) . 11% Am Satety Raz 1.20 9% Am Seating ¢.50g)_. 4 Am Ship Building._. 46 Am Sm & Ret 50 25% Am Steel Fdry .25e. 12 Am Stores (.25e) 18% Am Sugar Refining. 81 Am Sugar R pt (7). 14*% Am Sumat Tob (1) 4 167% Am Tel & Tel (9) 85 Am Tobacco (5) 86% Am Tobacco(B)(5). 144% Am Tobacco pf (6) 4’x Am Type Founde: 8% Am Water Works _ 39 Am woolcn ot (3\(). Anaconda Wire & C. 19 Anchor Hoc Gl 70g. 110 Anchor H G pf 6.50_ 24 A P W Paper 106'2 Armour( Del)pffl)_ 5 Armour (111) 46% Armour (111) pr pt. 37 Armstrong Ck 25e. 10 Arnold Const .375e_ 814 Artloom Corp __. Tl4 Assoc Dry Goods 97'2 Assoc Invest pf (5) 21'3 Atch Top&Santa Fe 161 Atl Coast Line __ 13% Atl Gulf & W Ind 13% Atl Gulf & W Ind pt 202 Atl Refining (1) __ 8% Atlas Corp (.608) .. 47 AtlasCorppf (3) _. 124". 117 Atlas Powder pf(5) 13014 1'2 Auburn Auto (r) 6 14 4% 5ty 10 384 134 26'% 25% 26% 9 26% 21 T0% Aviation Corp Baldwin Loco ctf: Balt1 & Ohio (r) Balt! & Ohio pf (r). Bangor & Arstook . Bangor & Ar pf (5). Barber Asphalt 25e Barker Bro pf 2.75.. Bayuk Cigar 25e _. Beatrice Crea (1a).. Belding-Hem .20e Bendix Aviat'n (1e) Beneficial Loan .45e Bethlehem St (1 Beth Steel pf (7) Bigelow Sanf'd(1le) Black & Decker .25 9% Blaw Knox 18 Bliss & Laug (.25e) 1914 Boeing Airplane 21'; Bohn Alum'n (.26e) Bon AmitA)(4a) _. Bon Am! (B) 2.50: 22 Bond Stores (1.60). 21% Borden Co (.30e) __ 21% Borg-Warner .25 2 Boston & Maine 3114 Bower Roll B (3) _ 6 Brewing Corp ( 60). Bridgeport Bra Briggs Mfz (.50e)_ Briggs & Strat (3).. Bklyn-Man Transit. Bklyn-Man Tran pf. Bklyn-Man pf ctfs_. Bklyn & Queens BKlyn Un Gas .50e_ i Brunswick-B .26e__ 26% 19% 104 19% 38 1314 4% Budd Wheel 20 Bullard Co (.25e) ._. 28% Bulova Watch (2a). 18 Burlington M (1) __. 10% Burr’'s Add M 20 35 Bush Terminal 6% Butler Bros (.15e) . 20% Butler Bros pf 1.50. 314 Butte Cobper 11 Byers (A M) Co 21!4(:111! Packing .25e . 4 Callahan Zine 6‘4 Calumet & Hec .50e. 13% Campbell Wy .650__ 162 Canada Dry 36 Canada South" n(Z). 4% Canadian Pacific __ 3812 Cap Adm pf A (3) .. 66 Case (J 1) Co 47Y% Caterpillar Trac(2) 26% Celanese Corp .50a._ 119 107'2 Celanese pr pf (7). 9% Celotex Corp 62 Celotex Corp pflS)_ 21% Cent Aguirre (1.50) 2% Central Foundry __ 6% Central Vio Sugar . 37 Cerro de Pasco (2&) 64 Certain-teed ___ 27% Certain-teed pf . 21 Champ Pap & F .15e 4'4 Chesapeake Corp (r 38% Ches & Ohlo (2.60) _ 1% Ch1 Grt West pf (r) K ChiMStP&P(r).. 1% Chi M St P&P pf(r). % Chi & Northw'n (r). 107% Ch1 Pneu Tool = 46 Chi Pn T pr pf 2.50. 83% Chi Pn T cv pf (3).. UChRI&P(r) _. 12 Ch1 RI&P 7% pf(r). 812 Chi Yellow Cab (1).. 11% Chickasha Cot Ofl . 4Add 00. High T%h Low Close. chee % 49% +1% 6% sTress , . T4++1+ 14% 8% 341 14% 2% 5474 T0% 11% 49% 493 T Th Th+ W 10s 1821 132% 13214 + % 6 115% 115 115% +1 6 26U 25% 26% + M 1 42 42 42 + 4 1 21% 21% 21% + " 1138 138 138 +14 % 14% 2 5474 T0% 11% (£ L A o - @ PENSTR-F PRI T} | i ol 2 e ] ol 3 6008 11 173 150% 5 9% 439 % 2978 36% 204 111 31 1094 6% 5T 404 10% 81y T 995, 224 17 19 1915 22 9 474 120% 1% 8 15% Srommmailas 1504 CICRISEEN 121 11 84 15% 5 40s 1 108 +++1114 L Es % % 12'(& 123% 26 1911 19% 10 10w 20% 20 26% 26% 2 26 26% 26 100s 12114 121' 1219 208 66% 66% 66% 1 274 2T% 14 2313 2315 15 2213 23% 1 2 2 34% 6% 113% 22% 38% 1 3415 6% 117% 22% I||++l+|+|||||||+ sCsrssrrsrecr sees I 2 7 8 6 1 11 2 2 3 2 2 T+ I+ 4+ . 67% 6 511 503 24 33% 32% 1208 117% 117% 117"1 9 10% 4 69 25‘ 108 ~14 1 10 ll 10% - 340: 10 1 15 1 N 5 4T% 34 Y% # 104 15 21% bl 167 113% 23% 19% 23% 5% 125‘/1 1891 126 4% Bl 166% 37 17% 41% 17% 1% 8l 313, 364 3214 41% 123 83 97 3y 11% 29v% 193¢ 1173 41 49% 118% L 101 13015 56% 1274 ™% 10 19% # 154 30% 248, 29! 142 351y 178 34 28% 37 20% 106 284% 9% 4% 11% 19% 100%5 | 1334 674% 115% 35% 15% 60% 16% 29 118 90 191% 62% 5% 13% A 38% 18% 37% Cr'n C&S pt xw 3.2 16 Crown Zellerd'k.75e 89 Crown Zeller pt (5) 34% Crucible Ste 3% Cuba RR pt _ 6% Cuban Am Suga 1214 Cudahy Packing 26 . Cuneo Preas (1.60)_ 3% Curtis Publishing . 40% Curuis Pub pf (1X)_ 9% Curtiss-Wright . 27% Curtiss-Wr(A) .5l 184 Cutler-Hamm'r 25e 41 Davega Stores .25e . 6 11 193, 16 16% 45 118% 184 334, 8 Davega Strs pf 1.25 Dayton P&L pf 4.50 Deere & Co Deisel- Wem-G 3760 De! & Hudson Del Lack & Wn Detroit Edison (3e) Devoe & Ray A 2be Diam'd Match 1.50. Diam T Motor 4 Dixie VortA)(2.50). Doehler Die C .25e . Dome Mines (2) Douglas Air (3g) Dow Chemiecal (3).. Dresser Mfg - Dunhiil internatl Du Pont (1 76e) _ Du Pont pf (4 50) Eastern Alr Ling Eastn Roll Mills Eastman Kodak «6) Faton Mfg (.75e) _. Edison Bros S (1) _ Elec Auto Lite .75e. Electric Boat 60g Electric & Music _. Elec Pwr & Light Elec Pwr & Lt 36 pf Elec Pwr & Lt $7 pt. Elec Stor Bat (2) El Paso Nat G (2) Eng Pub Service _ Eng Pub Sve pf (5). Eng Pub Sve nf (6). Equit Office Bldg . Erie RR 1) Erie RR 1st pt (r) Erie RR 2d pf (r) Evans Products 3 Ex-Cell-O (.40e) 2 Fairb'ka Morser1a) Fajardo Sugar 50 Fed Min & Sm 2 Fed Motor Truck Fed Water Sve (A). Fidelity Phoe 1.60a_ Firestone Tire 50e_ Firestone pt (6) . First Nat) Strs 2 50. Flintkote (1g) 5 Florence Stove .50e. Florsheim (A)(2) . Follansbees Bro (r)_ Food Mach (.25e)_ Foster Wheeler Francisco Sugar _. Freeport Sulph (1) Gair «Robert) Gair (Robert) p Gamewell Co .75 Gar Wood Indust Gavlord Cont (.10e) Gen Am Invest . Gen Am Tra 2.375g- Gen Baking (.15¢) _. 175 122 61y 4% 1457 27y 15% 34, 121 1% 47 2214 26% 28 36% 8 % 135 Gen Baking pf (8)_. 2'3 Gen Bronze T\ Gen Cable 18%, Gen Cable (A)oooee 17'2 Gen Cigar 25e 11314 Gen Cigar pf (7) 3714 Gen Electric (.35e). 45% Gen Foods (2) 116 Gen Foods pf (4.50) 13 Gen Gas & El (A) R61y Gen Mills (4a) 126 Gen Mills pf (5) 51 Gen Motor (.75e) __. 12313 Gen Motors pf (5)... 4% Gen Outdoor Adv__. % Gen Print Ink 10 15% Gen Rwy Signal _. '» Gen Realty & Util_. 14'3 Gen Shepe (1.20) .. 24 Gen Steel Cast pf _. 197% Gen Telephone 1.20. 1174 Gen Thea Equ .20e_. 18% Gen Tire & R .50e _ 6 Gillette S8af R (.60). 47': Glllette S R pf (5).. 7 Gimbel Bros 16% Glidden Co 213 Gobel (Adolf) 2% Goebel Brew (.2 16'2 Goodrich (BF) 21% Goodyear T&R 5! 3 Gotham Silk Hos: * Graham-Paige 7% Granby Consol .25e_ 13 GraniteCityS __ 31% Grant (WT) 1.20e_. 23'5 Grant (W T)pf(1).. 221 Great North'n pf 12's Grt Nor Uctfs.75e. s 27 Great Wn Sug (2).. 133% Great Wn S pf (7)_. 30% Green (HL) ((2a)_. 15% Greyhound (1) 2 Guantanamo Sugar. 20 Guantanamo S pf _. 'w, Hack Wat pf (1. 75) Hall (WF) Prtg (1) Hamilton W pf (6) Harb-Walker (.50e) Hat Corp (A) Hayes Mfg Corp_ 9% Hecker Prod (.60 14 Hercules Mot .25¢ 871 Hercules Powd 60s. 131 Hercules P pt (6) 61 Hershey Choc (3) .. 11214 Hershey cv pf (4a). 30% Holland Furn .50e_. 12% Holly Sugar 52 1% 5% 41 1914 5% ~ 9% 21 5% 25% 1% 80% 1% 5% 40 87 3214 175 534 31 8% 5% 315 10% 50% 34%4 104‘6 23% % 3% Houston Ofl Howe Sound (3) Hudson Bay 1.7 Hudson Motor. Hupp Motor _ Iinois Central Illinois Central pf_. Indian Refining Indust Rayon .60e__ Ingersoll Rand (1e) inland Steel (le) _. Inspiration Copper. Insurshares (.20g) - Interchemical(.80e) Interlake Iron Intl Agricul prpf__. Intl Bus Mach (6a). Int] Harvester 1.60. Intl Hydro-El (A)_. Intl Mercantile Ma_ Intl Mining (.10e)_. Intl Nickel Can (2). Intl Paper & Power. Intl Pap&P pf 1.25e. Intl Salt (1.50) - 25 Intl Silver 708 12 % EEot=tY) a = o N = UV 3 T TUP SO N FRrIVNTUVOT VUV OVOTUL.. [OP R OTUTOTNI VIR VIVSOPHUR- L JOPIRTOL - P 100 105 > I = - > - 5020010 000 i 52 10 1 DD i 1 DO 3D 30 09 E0 DD 1 s D O - ) 1 9 93% Add 00 llmi m c:ezn cnn. l!% 18% + FEFFEEF FFF FEE Si-’?.}' & FEFF F ¥ o 25 L £ ++1 FE2 b e i ok e e g v 4+ A+ e Eako =385 ¥ e 5 T ErEREE SFFF 3 pe Ed 358 & 241y 170'; 165 97 201, 1614 13% 184 116 11015 1094 114 6lg 267% 124 221y 173% 165 BTh 234% 14 11 57n 184 12% 693 £y 237 1215 14 118'1 112"\ 4314 115 110% 160% 165 32% 11% 87 15% % 69 104 10314 87 Market 8t Ry pr pf._. 13 Marshall Field .40 36% Martin (Glen) T% Martin-parry 34'5 Masonite Corp ( 25% Mathieson Alk 1.50. 50 May Dept Strs (3).. 14% McCrory 8trs (1 22% McGraw Elee (1) 87 Melni Pore (2s). 9% McKeesport Tin .. 6% Mc son & Rob _. 26!3 McKesson& R pf_. 9% Mead Corp 53% Mead C pf(B) (5. 60) 29% Melville Shoe (2)__. l‘a Mengel Co Menge) Co 6% pf Merch & Min Trans Mesta Mach tle) . 4 Miami Copper 20 Mid Cont Pet (.4 Midland St P.50e._. Mid Sti 1st pf (8) _ Minn-Hon Ros «2) . Minn-Hon pf B (4) . Minn-Moline lmp Mission Corp ( 658) Mo-Kan-Tex pf Mo Pacific pt (r) 16'% Mohawk Carpet 250 Monsanto Ch (2) Mont Ward (1.75e) Morris & Es (3 875) Motor Products Mueller Bruss Mullins Mfg (B)___ Mullins Mfg pt __. Murphy (GC) (4) ... Murray Corp - Nash-Kelvinator __ Nat'l Acme (.50g) __ National Aviation._. Natl Biscuit ( 4ve)_ Natl Biscuit pf (7)_ Natl Bd & In pf (5). Nat’l Bond & S.30e_. Natl Cash Keg (1) .. Natl Cyl Gas (.20e). Natl Dairy ( 80) Natl Dairy pf A(7). Natl Dairy pt B(7). Natl Dept Stores Natl Distillers (2) Nat'l Gypsum Natl Lead « 60) _ Natl Lead pf(A)(7) Natl Pwr & Lt 60__ Natl Steel (.60e) Natl Supply Natl Supply 5.50 pf. 312 Natl Tea Co 'a Newberry (JJ)pf(5) Newmont Min .50e . Newport Indus . N Y Air Brake (le). 504 27 105 23 4 30 67% 5l 61y 131 11% 223, 92% 18% 14% 1015 164 5% 23 10%, 194 % 63'3 Bin Ch1 & St L pt COmnibus (3)_ NH&H ) N H&Hopf r). Ont & Wn (r) . N ¥ Shipbiiding Noblitt-Sparks 60e Norfolk & W pf (4)._ Nor Am Aviation _ Nor Am Co (1 20) No Am 6% nt 2875 No Am Co 6% pf (3) Northern Pacific Northwest Tel (3) Norwalk Tire __ Ohio O Oliver Farm Equip_ Omnibus Corp 1.20_. Omnibus pt (8) 5 Oppenheim Collin 15'3 Otis Elevator (.1 Otis Steel 111 G1 50 Pac Am Fisheries_. Pac Coast 15t pt__ Pac Coast 2d pf _ Pac Finance (1.20)_ Pac Gas & Flec (2). Pac Lighting (3)._ Pac Mills Pac Tin Consol .20e. Pac Western O .40g. Packard Motor Pan-Am Airwavs Pan-Am Petroleum. P andle = Paramount Pie Paramount 1st (8)_. Param't 2d pf (.60)_ Park Utah Mines Parke Davis (.80e). Parker Rust (1) Parmelee Trans Pathe Film Patino Mines Penney (JC) (.75e). « Penn-Dixie Cement. Penn Raflroad (1) Peoples Drug(new) Peoples GLt&C(1e) Pere Marquette pf_. Pere Marq pr pf Petrol Corp (.70%) Phelps Dodge .25e Phila Co 6% pf (3) Philip Morris (3a)_. Phillips Petrol (2)._. Pierce Oil pf __. Pitts Coal Pitts Ft W pf (7) _ Pittsbgh Screw .150 Pitts Steel Pitts & W Va Plymouth Of1 1.40 __ Poor & Co (B) - Port R Am To A(r). Pressed Steel Car _ Proctor & Gam (2a) Proctor & G pf (5).. Pub Sve (NJ) 6bde Pub Sve(NJ)pf(6). Pub Sve(NJ)pf(8). Pullman (.25e) . Pure Oil ___ Pure O1l pt (5 Purity Bak (.25e Radio Corp (.20e) .. Radio C cv pf(3.50). Radio-Keith-Ur (r Rayonier Inc Rayonier pf (.50k)_ Reading Co (1) Reming Rand (.40e) Reo Motor vtc ctfs_ Republio Steel _ Revere Copper _ _. Revere Copper pf. Reynolds Metals Reynolds M pf 5.50.. Reynolds Spring - Reyn Tob (B) (le)_ Richfield O11 (.50g). Ritter Dental - 9% Roan Antelope .66g. 18! Ruberoid (1.10g) .. 44Y% Safeway Strs .75 393, 25% 8l % 14 5lg 605 1 15% 27 9% 1% 61y 39%, 6% 64 lll% 104 Safeway 8 pf (5) - "/i 29% 14% 36% St Joseph Lead (1). s St L-San Fr pt (r) 19% Savage Arms (.25e 50x 11 23 » - PV 3 TOTCP e % 13% 46 13% 33% 31% 50% 16% 26% 37% 104 6% lt 46% 34 514 28 147% 22% 4% 331y 9% kY 6% 18% 15 24% 165% 984 20 134 124 17% 114 111 5% 25'% 10W 21 169 84 64l 84 39 T4 109 70 12% 46 16% 1814 3215 EIEN +* 1 N 245 341 112y 244 213 5613 1+ + 1+ +1+1+ P44+ +++ & [ 44101 F&E EPFSF Lt SERES &8 Fa TS 4 |17 8 16% 15% b% % 40% 134 6% 24 25 22% 103% 13 1 11% 1215 — Add 00. High. 80% Sears Roebuck (3). 5 36% 13 Servel Ino (1).... 12% Sharon Steel 4% Sharp & Dohm 6% Shattuck (FG) (.. 36% Sheaffer-Penn 1.50e. 240s 10% Shell Un Oli (.50g). 24 5% Stiver i%ing (.10e)_. 3 20% Simmons 21% Simonds §'& 3 .40e_ 18 Skelly U1l (.25e) . 99% Skelly O1] pf (6) .. Sloss-Sheff pf (6 9% Smith & Coro .50. 10% Socony-Vae 25 152 144% South P R pf (8 1634 11y 38 41% 65 T0% 687, 1211y 39% 2% T 21, 15% 159 112 ) 387 4ln 318 68 117‘. 114% 207% 40% 5 28% 281 118 105% 48% 2814 17% 2% 328 109 115 148 14% S.E.Greyh'nd 1. 287 Southn Cal Ed 1.50a 11% Southern Pacific . 14% Southern Rallway__ 25'% Southern Rwy pf . 37% Southn Ry M&O(4). 17 Sparks Withington. 41 Sperry Corp (2g) 50% Spicer Mfg pt A (3) 914 Splegel, Inc (.30e) 29% Square D Co (.30e). 6 Stand Brands .20e 1% Stand Gas & Elec. 3% Stand GRE $4 pf. _ 10% Stand G&E $6 pr pf. 134 Stand G&E $7 pr pf. 22% Stand Ol of Cal (1) 25 Stand Oil ind (1) .. 40 Stand ONINJ (1a) . 76% Sterling Prod (3.80) T% Stewart-Warner __ 5 Stokely Brothers__, 9l Stone & Webster___ 9 Studebaker 2 Superior Oil 13% Superior Steel 22 Swift & Co (1.20)... 27% Swift Intl (2) T Syming-Gould ww._. 34‘1 Talcott(J)pf 2.75 Telautograph .10 '1‘«- Tennesses Corp .. 42% Texas Corp (2) _ 32% Tex Guif Sul (2) __ T'a Tex Pac C&O (.40)_. 5 Tex Pac Ld Tr.10g_ 34 TheFairpf .______ 37% Thermoid 26% Thermoid pf (. 75K). 2% Third Avenue 3 27« Thomp Prod (.25e) _ 174 Thompson-Starrett. Thompson-Star pf_. Tide Wat A O 15e _ Tide W A O pt 4.50 : Timken-Det Ax (1). 2 Timken R B (.50e) 5% Transamerica (.50) 12% Transcontl & W Afr 21 Tri-Continental __ 93, 20th (‘éntury Fox _ 22'3 20th Cen F pt 1.50__ 9% Twin Coach % Ulen & Co (r) u 4 Un Bag & Pap .15¢) 2 Unfon Carb (1.10e) . Union Oil(Cal).50e Union Pacific (6) _. Union Pac pf (4) __ Un Tank Car 1.20a.. s Unit Alreraft (2g). Unit Afr Lines United Biscuit .50e_ Unit Biscuit of (7)_ Unit Carbon (3) United Corp United Corp pt (3)_ United Drug Unit Dyewd pf . Unit Electric Coal.. United Fruft (4) _ United Gas Imp (1) 2 Unit Mer & Mfg .50e United Paperboard U S & For'n Secur U S & For Sec pf(6) U S Freight (.25e) U S Gypsum (2)_ U S Hoffman U S tndus Alcohol.. U S Leather S Leather (A) S Pipe & Fdry (2) Rubber Rub 1st pf (2e). Sm & Ref (2e) . Sm& R of 3.50 S Steel (1e) U S Steel pf (7) U S Tobacco (1.28) . Unit Stockyards _. Unit Stkyds pt .70__ Unit Stores (A) Univ-Cyclops S .20e Univ Leaf T pf (8)_ Univ Pictur 1st pf_. Vadsco Sales Vanadium Va-Caro Chem 2 Va-Caro Chem pf Va Iron Coal&C pf.. Vulcan Detin 4.50e_ Wabash pt (A)(r) Waldort System 60 Walgreen (1.60) Walker (H) (4)_ Walworth Co = Ward Baking (B) _. Warner Bros Pict _ Wash’ton G Lt 1.50. Wayne Pump (le) .. Wesson Of1 & Snow.. Wesson O&S pf (4)._ W Penn Pw pf 4.50_ W Va Pulp & P .15e 9 S - P ui’.@.‘mm—, waannnata o 8 anmoSannSnhinaininmtad (o 8 61 6415 534 s 8 s 8 35 17 6% 1% 13% 67 1a 28%, 3 131y 3314 3‘«: 21Y% 22% West'n Union Tel__ Westh’'se A B 25e__ Westh'se Elec 875e Weston El Ins new Westvaco (1.40) Wheel&L E pf 550 Wheeling Steel Wheel Stl pr pf (5). White Motor Willys-Overland __ Willys-Overl'd pf.. % Wilson & Co Wilson&Co pf (3k). Woodward fron Woolworth (2.40) __ Worthington Pump. ¢ Worth Pcvprof __ Wright Aero (2g) .. Wrigley (3a) Yale & Towne (.60). Yellow Truck Yellow Tr'k pf (7 Young Spg & Wir 37% Ygstwn Sh & T 25e 22 Ygstwn Stl D .25e.. 2 22% 1413 Zenith Radio (le)._. 2 15% 2 Zonite Products. __. 1 2% 231 19% 121 10 13% 20 431 135 508 86 + % L+ 1 4++ W 0f Leading Stocks Meet Opposition Market Is in Seesaw As Volume Fails to Rise Above 1,000,000 Shares Stock Averages Indlte. Ralis. 061 OGS Net change unc. unc. unc. unc. Today, noon 71.7 18.3 50.1 Prev. day.. 71.7 188 50.1 Month ago. 713 184 49.7 Year ago... 619 169 437 1940 high_. 742 205 522 1940 low... 699 18.0 492 1939 high.. 77.0 238 539 1939 low.._ 588 157 337 416 60-Stock Range Since 1927 1937-38. 1932-36. 1927-29 High .. 128 157.7 75.3 Low ... 337 169 618 (Compiled by the Associated Press.) By VICTOR EUBANK, Assoclated Press Financlal Writer. NEW YORK, April 17—Rising tendencies of leading “war stocks” met opposition today, sending prices into a market seesaw. A steady flow of transactions failed | to attract sufficient large-block ac- tion to send the volume beyond 1,000,000 shares and, in consequence, traders operated on fractional varia= tions. Of paramount importance to Wall Street were the reports of the fluc- tuating tides of battle for the pos- session of Norway. In the course of the day some papeh company shares reached new highs for the year. Advancing at various times were Bethlehem, Yellow Truck, Boeing, Martin, Lockheed, Union Carbide, Phelps Dodge, American Telephone, * | New York Shipbuilding and Inter- 5 1| + +1v 141 +4+ ++ iR Approximate Sales ot Stocks on the N. Y. Stock Exchongo 11:00 A.M.. 240,000 510,000 12:00 Noon 2:00 P.M_ +| Wheat prices national Paper common and pre- ferred. Heavy tendencies were dis= played by Eastman, Westinghouse, Standard Oil of New Jersey and | General Motors. ¥ Chlcago Grain By the Associated Press. CHICAGO, April 17.—Wheat prices backed down fractionally today from the highest levels at which futures contracts now listed on the board have been quoted in more than two years. Rains that ,amounted to down- pours in some localities and were spread throughout most of the grain belt represented the principal selling factor. The market also had to absorb above normal receipts because of liquidation of 1939 grain that has been held under Government loans | since harvest. Traders who accepted profits did so with caution, however, due to European developments, and prices rallied frequently after an early slump of almost a cent. | Wheat closed unchanged to 13 cent lower compared with yestere day’s finish, May, $1.097-3;; July, $1.083, 13-12 higher, May, 621547 , 6333-34; oats une changed to 15 1ovscr WHEAT— Open. High. May 110 10915 1.09 623 ose. 1.083 1.0972-3% 10814 1.0834-5, 1085 1.087s-% 647 ZroRs, 1083 42% 8.00 675 CHICAGO, April 17 (#).—Cash today were quoted %-12 cent lower and the basis was | unchanged. Shipping sales totaled 30,000 bushels and receipts five cars. Corn prices were -1 cent down and oats 1, lower. New York Cotton | By the Associated Press. | NEW YORK, April 17—Cotton futures turned down under realiz- !ng. hedging and New Orleans sell- ing today after an advance of as much as 60 cents a bale. Demand stimulated by the bullish weekly weather report, subsided fol- ‘Ilowing a late decline in overseas markets, During the forenoon advance new crop months reached new highs for the season. Reports of Great Britain that England has over eight months’ sup- ply of American cotton also brought , | Out increased selling. Late prices were 1 lower to 2 higher; May (cld), 10.76; July (old), 10.48; March, 9.98. 97% Intl Silver pf (2k)_. 3% Lntl Tel & Teleg 8% Interstate Dept Str. 7% Intertype Corp .40g. 14% Jarvis (WB)(.375e) 45% Jewel Tea (2.40)__ 68% Johns-Manville 11% Schenley Distille 72 Schen ot (6.50) . # Schulte Retail 8 (r) 056,000, an increase of $12,158,000 over the December 31, 1938, total. Loans and discounts of the 13,535 insured commercial banks through- out the country totaled $16,866,- 000,000, an increase of $842,000,000 or 91% 7913 Chrysler Corp 1.250 39% 28 Clark Equip (1a) . 1145111 Clev EI [1lu pf 4.50_ 43% 35'3 Clev Graphite(.40e) 411 35% Climax Molyb 1.20_.. 45% 35% Cluett Peab (.60e) o P 86 91 3814 30. 112% 1121/’ 112'« + % 4 40 38% 40 +1 2 38% 384 384 +l% 9 42% 41% 42% + W 791 sUDIt of trading. 10 shares TIn bankruptcy or feceivership or being reorganized under Bankruptcy Act or securities assumed by suc ‘3’:/. gCDIIII;.RBDf ). = Rates {," umu-m;l n :!w xor:m]ln- C e a) 4 Scott Paper (1.60) . irsements based on the last quarterly or al desiara. % Seaboard Afr L (r). “ tion Unless otherwise noted special or extra " dividends ‘sre net % Seaboard A L pf (r) xr Bx extra or Insurance Stocks NEW YORK. April (. *Nlfln al Astociation” Becurities Destere T Aetna Cas (n) 5 per cent over the amount reported December 31, 1938. Deposits in- creased from the $49,779,000,000 re- ported the previous year to $56,- 076,000,000, the highest figure since inauguration of deposit insurance. Financial District Comment. Ten shares of Liberty National Bank stock sold on the Washington Stock Exchange today at 170, up four full points and a new 1940 high mark. Capital Traction 5s registered a $1,000 bond sale today at 10134, a gain of half a point and back to the year’s best price. Support of the Investment Bank- ers’ Association in their suggestion for a review of the implications of the present Securities Acts is offered today in The Exthange, official pub- lication of the New York Stock Ex- change. Roy A. Duffuss addressed the In- surance Club of Washington today at a luncheon at the Willard Hotel, first meeting of the club since the recent annual election. ‘The Bank of Quinwood, Quin- wood, W. Va., has been admitted to membership in the Federal Reserve System, the Richmond Reserve Bank announces. Crude Rubber Futures NEW April 17 () .—Crude rub- ber Ntu:e?nx 1 5 lower to 13 higher, May. -IE -Yuly. 18.60-84; September, l8.35-40. Deoember. 18.10-12. [} 131 20 35% 5% 26% Ty 931 S'h 108% 56 1104 14 4% 116 9% 40% 4% 25 33 23% 64% 61l% 65 T% 1l 24y 328% 88% 48 118 Coca-Cola (.75¢) __ 16% Colga 28 Collins & Atkm'n 2e 414 Colo & So 1st pt 23 Colum BC (A) 45 5% Columb G & El .20e. 86 Col GEE of (A)(6). 63 Columb Plc vte ._.. 45 Comel Credit «4) 104 Comcl Cred pf 4.25.. 51y Comel Lnv Tr (4)_. 1 Comwlith & South'n. 62% Comwith & 8 pf (3). 5 Conde Nast Pub. 8 Congress Cigar.. 25'% Consol Aircraft T3 Consol Cigar (.66). T% Consol Cop M .15e_. 30% Consol Edison (2).. 107 Consol Edis pt (6).. 7 Consol Film 3% Cohsol Laundries 7 Consol 01l (80) - 141 Consolidt’n Coal pf.. 14% Container Corp 25e. 124 Cont1 Baking (A) 9115 Contl Baking pf (8) 41% Contl Can (1e) 113 Contl Can pt (4.50). 6% Contl Diamond _. 38 Contl Insur 1.60a) 3 Contl Motor 2214 Contl O1) (.25e) 25 Contl Ste: 15% Copperwe! 1. 5214 Copperweld pf 2.50. 53 Corn Exchange (3). 581 Corn Products (3) 4% Coty Inc (.25¢) __.. 7a Coty International.. 19% Crane Co 2814 Cream ot wnuu!) 27 Crown Cork & Seal. 87 CrnC&sptww 225 Pal-P (.60)x 22 1 127% 127*1 127% - 17% 17 + 32% 32’% 32% + 40s 4% 4% 4y - 2 24% 24% - 23 Y 6% 6% + 1 92 92 4 6% 6% 46% 46Y% — 3 10574. 1067 1067 + 53% 53U — 15% 15% + 32% 32% + 1% % - 65% 66'% + 5 5 12% 12% + 30% 30% + 13% 14% + 8"4 9 + 31% = % % % % bl W 2 F OFRFFFNEE FFEEFEFE 115% llfih 115% + % 8% 8% + 4 40 40% + % 3% 3% 22% 22% + W 29% 29% -2u 22% 23 + % 64y 64Y% — % 55 =% 60 60 1 1% 19% 294 36 “ P TR P YR e ARead 30 7 1% 19% - % 20% =~ W 36% + ¥ 4 PRI 10 508 115 1% 24% 53% 8% 109 109% 23% 29% 13% 18% 39% 46% 26% 159 21% 60 5% A Jones & L of 1k Kans City Sou pf _ 12 Kaufman Dept .25e. 124 Kayser (J) (.25 10% Kelsey-Hayes (A)._. 5% Kelsey-Hayes (B) 90 Kendall Co pf (6a)_ 3414 Kennecott Cop .25e. 35 Kimberly-Clark (1) 24% Kresge (SS) 1.20a_. 25 Kress (S H)(1.60).. 28'% Kroger Groc (2)- 108% Leh Port C pf W 7 Leh Valley Coal .. 21 Lehman Corp (.40e) 48Y% Libbey-Ow-F (le)_ 6% Libby McN & Lib .. 105% Ligg & Myers (4a)_ 106 Ligg & Myers(B)éa 19 Lily Tulip Cup 1.20. 24% Lima Locomotive.. 11% Lion Vi1 Ref (1) 16% Liquid Carbonic.5/ 27% Lockheed Airc.. 18% Loft Ino 42% Lone Star Cmt (l).. 23% Lorillard (.30e) .___ 149% Lorillard pt (7) 16% Louis G&E (A) 1.60 55% Louis & Nash 1.25e. 23% Mack Trucks _. 27% Macy (RH) Co .60e. 11% Madis S8q Gar .26e _ 83% Magma Copper .50e. 2% Manati Suga 14% Man Ry mod d(r) 14% Man Ry m gtd et(r) 28 Man Ry gtdet(r)._. 4% Marine Midr'd(.20e) 27 ManRygtd (r) __. :001 -~ S . BrobnonSondnelaman -~ - 108 3 % % 38 38%u + % 43% 43% 24 24% + % 160 160 +1 19 -5 55% = 3% 26% + Y% 29% - % 1% + % 36% ~1% A% + % 16% + % 18% + % 32 +% 32 17% Seaboard Ol (1). 1% Seagrave Corp... dividena rights Accamuiated digid nds eai last ven lared r this year Stock ¥ Accnmnia of gaid e in stock 5t year le n diviaends oate or dCcibred. ihis’ sean Iron Ore Price Cut Expected to Leave Steel Rate Unfouched Several Large Operators Meet 50-Cent-Per-Ton Slash by Mather By the Associated Press. CLEVELAND, April 17.—Steel circles said today a cut of 50 cents a ton in the price of iron ore by Pickands Mather & Co. would affect only about 16 per cent of the total volume shipped to lower lakes docks. The cut is not expected to affect the price of steel. The new prices announced by Pickands Mather, large sellers of ore and operators of the second largest fleet of ore carriers'on the Great Lakes, were $445 a gross ton de- livered at Lake Erie ports for Mesabi non-Bessemer; $4.75 old range Bessemer and $4.60 for Mesabi Bessemer and old range non- Bessemer. The rate applies to 1940 delivery. M. A. Hanna and Oglebay-Norton A & Co. and Cleveland-Cliffs Iron Co., large dealers in ore, announced they would meet the price cut. About 84 per cent of the iron ore shipped to lower lake ports from the Northern Minnesota, Michigan and Wisconsin ranges, comes from mines controlled by steel companies and sold on long-term contracts based on the Lake Erie price. Ore- selling companies indicated such contracts would not be materially affected. ‘However, users of ore who buy only on yearly contracts would benefit. Ford Motor Co. is the only large consumer -which does not own or lease ore mines. Ford last winter closed a comtract with the Oliver Iron Ore Mining Co., a subsidiary of United States Steel, at unan- nounced prices not including de- livery at Lake Erie. Prices at the time were reported to approximate & reduction of $135 a ton under current figures, which included 80 cents for freight to Lake Erie ports. The sale by Oliver to Ford is the first time the U. S. Steel sub- sidiary sold ore to any but its own companies. Steel circles credited pointed out the Oliver cut would } k. 5. the new cut to this sale. It was|B.75. benefit U. S. Steel subsidiaries as they would be charged the prevail- ing or Ford rate on all ore used. Boston Wool Market BOSTON. April 17 (&) (Unite t Department_of® Agriculture) A fow' Bog: J3-34 cents. in the grease. or 85-87 cents, scoured basis. A few sales of sraded {hreeeiehths and one-auaries blsod ‘srighs combing fleece Wools were closed at 35-37 . "Spot territory wools ¥ere quiet. but some users were reported to making purchases in the country. Good French combing-lengih fine territory Joole Dought in the country were reported buve und 78 cents. scoured o “aclivered o the mills. Dry Goods Market ‘&l YORK. April 17 (®.—Pigment taffetas for spot delivery were hard to buy today as better_inquiry continued in_the rayon market. Sheers also remained firm. Dosiorth, Street ‘cotion goods dealers re- usiness Julet in staple * cloth, Ahouen Brices wese frmi y hel Recently. declines 15 1aw Sk tended to check new % buying in (ull-fashioned hosiery. in woolen goods was mod- enul: active at unchanzed prices New York Metal Market NEW YORK. April 17 (. steady: euczmmu spot, Connecticut l!!. l'l 50 export, {.a.5. New York 115 lDo and nearby, 47.62%4; 2%. _Lead “steady: s uis, 4 qlckaiiver, platinuns Ghinces wolltamis atinum. olframi snd domestic acheelite unchanged. i (150)” Boina 1 i Reserve Strery® (417 Alomoniis (iat = Conn Gen Life (#0) Contin Cas (1.20) _ Fid & Dep (4) 2) Natl Liberty (.20a) New Amster Cas N Hampshire o380 Nor Eagy fne™ Nor River (1) 1n) Rep Ins Tex (1.2 Revere B n (1208 Rh I Ing 2 St Pant F(re R~ Soringnield (41a) Shin Lite (18 ’h'slelers (16) K3 hed rities Dellerl. l!lc whicl i Dids o1 should indicate unmxlm-u :fleu.‘"‘ New York Bar Silver NEW YOR! . %nm_m:«mxvm—n:m \