Evening Star Newspaper, April 23, 1940, Page 16

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., TUESDAY, APRIL 23, 1940. Conference of A. B. A. TRANSACTIONS ON THE NEW YORK Council Watched N B g smom FINANCIAL STOCK EXCHANGESeIecIedSIocksUp, 2:30 Prev. 1040 Sales— High. Lo~ 16% s'so pm. Bales— Met. Add 00. High, Low. Close. chge. 3 43% 43% Prev. 1040 SBtock lnd Prev. 1040 Stock and High. Low. Dividend Rate 42% Lone Star Cmt (3).. + Stock and Prev. 1060 Dividend Rate, Hizh Low Stock and % Dividend Rate it Closely Here Add 00. High, Low. Close. chge. 3 4% 14 Fleming, Vass, Waller, Addison and Needham Go From Capital By EDWARD C. STONE. Washington bankers arc following with great interest reports from the meeting of the Executive Council of the American Bankers’ Association, now being held at Hot Springs, Va., this being the most important bank- ers’ gathering of the year outside of the annual convention. Included among the Washington bankers present are Robert V. Flem- ing. past president ol the A. B. A. and president of the Riggs National Bank, and George O Vass, a vice president and cashier of the same bank, who is a member of the coun- cil; Wilmer J. Waller. vice president and cashier of the Hamilton National Bank, who is very prominent in com- mittee_work and in the National Bank Division of the A. B. A, and Francis G. Addison, ji., president of Security Savings & Commercial Bank, who is closely connected with the Savings Bank Division and with committees which are to present im- portant reports during the present sessions. D. J. Needham, general counsel of the A. B. A, is also present from Washington headquarters. The Executive Council is the governing body of the A. B. A. and consists of more than 100 bankers representing banking interests in the 48 States and the District of Co- lumbia. The Washington delegates looked for an unusually important meeting. Reports are due from the National, Savings, Trust, State Bank, Secretaries’ Divisions and from many commissions and committees. Three of the most important re- ports always come from the Bank Management Commission, Commerce and Marine Commission, Economic Policy Commission and the Federal Legislative Committee. The chair- men of these commissions, in the order named, are J. Harvey Wilkin- son, jr.; Fred I. Kent, Leonard P. Ayres and A. L. M. Wiggins. ‘While the sessions are all execu- tive, a good deal of information is given out on the general banking situation. Exchange Listing Requested. Application has been made by Julius Garfinckel & Co., Inc., for the listing on the Washington Stock Exchange of both the common and preferred stocks. The company would list for trading 50,000 shares of 6 per cent cumulative convertible pleferred stock, with a par value of $25 per share, and 110,010 shares of common stock, of no par value. The stock was placed on the mar- ket several months ago when the present firm was incorporated. It is expected there will be a good deal of trading in both issues. Up to this time these issues have been sold over the counter. The common stock is now quoted at 93; bid and 114 asked, while 26 is bid for the preferred stock and 28 asked. Trading in the two issues will start on the Washington Exchange in about a month, following ap- proval by the Securities and Ex- change Commission. Lincoln to Address Bankers. G. Gould Lincoln, The Evening Star’s political commentator, will address the Fiduciaries Section of the District Bankers’ Association to- morrow evening at a meeting at the Columbia Country Club. He will speak on the general political out- look and give consideration to some of the candidates who are expected to be put forward at the coming na- tional conventions. The Fiduciaries Section will also hold its annual election of officers at this time, with the chairman, Bernard L. Amiss, of the Washing- ton Loan & Trust Co., presiding. Many of the section members will go out early and devote the after- noon to golf, at the same time de- veloping an appetite for dinner. Dr. Willlam M. Deviny. associate professor of economics at Catholic University, will address the April meeting of the Districi of Columbia Control of the Controllers’ Institute of America on the subject of “Church Accounting, Its History and De- velopment, Current Methods and Procedures.” The meeting will com- mence with dinner ai the Carlton Hotel at 6:30 tonight. Humphrey Lloyd of Washington Properties, Inc., president of the local control, will preside. Washington Chapter, National As- sociation of Cost Accountants! will hold the April dinner Thursday eve- ning at the Hamilton Hotel, followed with an address by William W. Werntz, chief accountant, Securities and Exchange Commission. Laurence E. Skees of the Federal Reserve Board will be technical chairman. Financial District Comment. Granville E. Jacobs of New York is conducting a course on customer relations this month for officers and employes of the National Savings & ‘Trust Co. The members of the trust company's club recently entertained the directors and officers at a buffet supper at the Willard, after which the members of the group were guests of President Bruce Baird at a per- formance of Wirth's Circus, given for the benefit of Children’s Hospital. Scientific aptitude tests are now being used by the Connecticut Mu- tual Life to determire whether a man cr woman is fitted for the life insurance business, Fred O. Lyter, assistant superintendent of agencies for the company. who is in Wash- ington this week visiting the John Lister McElfresh Agency, reports. Every applicant must take this test, and only those who attain a certain grade are considered for the business. T. Stanley Holland, second vice president of the District Bankers’ Association, and A. S. Offutt, chair- man of the June convention Gen- eral Committee, will represent ‘the association at the meeting of the Safe Deposit Section at tomorrow night's dinner at the Lee House. C. B. Upham, controller’s office, will Epeak. Today’s Trading on Exchange. Two 25-share lots of Capital Transit stock sold at 141, on the Washington Exchange today. Other small transactions were registered. Again the feature was an advance to 16% in the bid for Mergenthaler Linotype stock and a jump to 17% in the asked price. No sales. Howard Moran, vice president of the American Security & Trust Co. and a former president of the Dis- trict Bankers’ Association, has re- covered from his recent illness and is back at the bank. | The annual meeting of the Asso- clation of Reserve City Bankers takes place next week at Hot Springs, Va. Several Washington bankers will attend. ) 0% 52% 9 274 19% 116% 17613 321 51% 231 154 3% 244 28 147 1521 335, 143 238, 175% 891y 913, 5% 123 351y 110 124% 8% 4 23 66‘ 119 121 T1% 26% 3% 114% 11% 41% B 36% 30% 105% 29% 4% 423 12% % 1% 14% 357 M 67 “Abbott Lab (1.60a) 45 Acme Steel (3) 17 Addrllmx‘ph 1.40. 48 Air Reduction (1a). 6 .Alaska Juneau .60_. % Alleghany Corp .. 1074 Allegh’y $30 pf ww. 914 Alleghany pf xw .. % Alleg-Ludlum .25e 13% Allied Mills T4 Allied Stor 33y Allis-Chalm 14% Alpha Port Cmt.50e. 1% Amalg Leather 14% Amalg Leather pf. 53 Amerada (2) 18% Am Ag Ch Del .30e. 41% Am Airlines 9% Am Bank Note 46 Am Bank N pf (3) __ 514 Am Bosch 38% Am Bruke Shoe 30e 112 Am Can (4) o 169% Am Canpf (1) __ 23% Am Car & Foundry. 381 Am Car & Fdry pf._. 19% Am Chain & C .80e_. 10% Am Crystal Sugar.. 2% Am Encaustic T1l _ 18 Am&F P 6% pf.60k 21% Am & F P 1% pf.70k 287 Am-Hawia'n SS (1) 4% Am Hide & Leather. 5614 Am Home Pr (2.40). 21 Am Ice 24% Am lce pf (.50e 5 Am International _. 50% Am [nvlll)pf 2.50_ 1844 Am Locomotive 51 Am Locomotive pf_. 13 Am Mach & Fy( 80) 23% Am News Co (1.50)_ 3 Am Power & Light 43 Am P&LS5pt 1875k 51% Am P&L $6 pf 2.25k 8% Am Radiator 13% Am Rolling Mills__. 6414 Am Roll M pt (3k)_ 11! Am Safety Raz 1.20 91, Am Seating (.60g)-. 29% Am Ship Building__ 46 Am Sm & Ret .60e 142 Am Sm & Ret pf (7) 149 Am Snuff pf (6) ___ 25% Am Steel Fdry .26e. 12 Am Stores (.25e) __ 183 Am Sugar Refining. 167% Am Tel & Tel (9) ._. 85 Am Tobacco (5) 86% Am Tobacco(B)(5). 4% Am Type Found, 8% Am Water Works_ 7 Am Woolen 39 Am Woolen pf (3k). 5% Am Zinc 39 Am Zinc prpf 2. 50k. 26'% Anaconda (.25e) 35 Anaconda Wire & C 19 Anchor Hoc Gl.15e 110 Anchor H G pf 6.50 311 Arch-Dan-Mid 35e. 106!z Armour(De!)pf(7). 5 Armour (111) 2 46's Armour ({ll) pr pf_ 37 Armstrong Ck 25e. 10 Arnold Const 375e. T4 Assoc Dry Goods . 70 Assoc DG 2d 9.75k . 9713 Assoc Invest pt (5) 21% Atch Top&Santa Fe 5013 Atch T&SF pf 2.50e. 16% Atl Coast Line __ 13%+Atl Gult & W [nd _ 13% Atl Gulf & W (nd pt 20'; Atl Refining (1) 10714 Atl Refining pf (4)- 8% Atlas Corp (.508) .. 47 Atlas Corp pf (3) “7 Atlas Powder pf(5) Atlas Tack - Auburn Auto (r) Austin Nichols Aviation Corp Baldwin Loco ctf: Balu & Ohio (r) Bangor & Arstook . Bangor & Ar pf (5) Barber Asphalt 25e Barnsdall O1) .16e _ Bayuk Cigar 25e _ 2 Bayuk Cgr 1st (7). "« Beatrice Crea (1a) Beech-Nut Pgk (4a) Belding-Hem (.40e) Bendix Aviat'n (1le) Beneficial Loan .45 514 Best & Co 1.60a) Bethlehem Stl (le). Beth Steel of (1) _ Bigelow Sanf'd(le) Black & Decker 25e Blaw Knox Bliss & Laug (.25e) Bloomingdale .375e : Blumenthal (8) pf Boeing Airplane 2+ Bohn Alum'n (.25e) Bon Amj (B) 2.50a_ Bond Stores (1.60)_ “» Borden Co (.60e) __. Borg- Warner .25 Boston & Maine 3X‘~h Bower Roll B (3) 6 Brewing Corp (.60). 10% Bridgeport Brass 19% Briggs Mfg (.60e) 51 Bristol-Myers 2.40_. 13! Bklyn-Man Transit. 49 Bklyn-Man Tran pt. 48 Bklyn-Man pt ctfs_. 1'; Bklyn & Queens __ 20 Bklyn Un Gas .50e. 21Y% Brunswick-B 25 8% Bucyrus-Erie 101% Bucyrus-E pf (7)-- 4% Budd Mfg 374 Budd Mfg pf 4% Budd Wheel 20 Bullard Co (.25e) .. 28% Bulova Watch (2a). 18 Burlington M (1) __. 10 Burr's Add M 20e__ 315 Bush Terminal __ 83, Bush T Bldgs pf___ 6% Butler Bros (.15e) _. 20% Butler Bros pf 1.60_ 31% Butte Cobper = 11 Byers (A M) Co 13% Byron Jackson (1)_ 211 Calif Packing .25e_. 1% Callahan Zinc 612 Calumet & Hec .50e. 13% Campbell Wy 65e _ 16': Canada Dry - 4% Canadian Pacific - 5 Capital Admin (A)_ 8512 Caro-Clin & U (5) Carpenter Steel 50e 213 Carriers & Gen 0be 66 Case (J 1) Co 47% Caterpillar Trac(2) 26% Celanese Corp 60a 107'2 Celanese pr pt (7) 9% Celotex Corp 62 Celotex Corp pf(5)_ 21% Cent Aguirre (1.60) 2% Central Foundry 111'% Cent [1l L pf (4.50) . 6% Central Vio Sugar_. 863 Cerro de Pasco (2e) 6% Certain-teed 27% Certain-teed of . 21 Champ Pap & F .15e 102 Champ P&F pf (S)_ 15 Checker Cab Co 41 Chesapeake Corp (r 38% Ches & Ohio (2 60) . 9% Chi Mail Order % Chi & Northw'n (r). %% Chi1 & Norwn pf (r). 107% Chi Pneu Tool 33% Chi Pn T cv ot (3) % Chi R 1& P (r) 1‘/1 1% 6 S 11% 16% 91% 14% SS 4 Chi RI&P 6% pf(r). 812 Chi Yellow Cab (1) 11% Chickasha Cot Ofl .. 79% Chrysler Corp 1.25e 12% City lce & Fuel .30e 93 City I&F pf (6.50) .. 40% 28 Clark Equip (1a) _. 114'2 111 Clev EI [1lu pf 4.50_ 43y 351 Clev Graphite(.40e) 80 76% Clev & Pitts (3.50) 41% 354 Climax Molyb 1.20 45% 35% Cluett Peab (.60e)_. 142 136 Cluett Peab pf (7)_. 131 118 Coca-C: 76e) __ 20 16% Colgate-Pal-P (.60) 351% 28 Collins & Afkm’n 2¢ 17 Colo Fuel & iron 23 Colum BC (A) 4be. 22% Colum B C (B) .45e 5% Columb G & EI .20e. 86 Col GEE pf (A)(6)_ 6% Columb Ple vte 19% Columb Pic pf 2.7» 87% Columb'n Carb ( 45 Comel Credit (4) .. 51% Comel Inv Tr (4).. 13 Comecl Solvents 39% Comwith Ed (1.80). 1 Comwith & South'n 62% Comwlith & 8 pf (3) 217% Congoleum (.25e) .. 5% Conn Rwy & Lt pf_. 25% Consol Aircraft.... 4 et. Aflofl High IA' Close chge 69% 69% S - = s pEarrananBoanBonms 47% 120 ki 1% 4% Tow 15% Bl 10% 41 15% 11w I+ 4 A s 1+ 48% 120 T 1 4 T3 164 5l 10% 411 151 11% 35% 1145 348y 121 9% 341, 22%, 373 8415 8 20% = ¥ 39% 18% Loft ine. R B e BUR e e T | Pttt (SR +tHEHIE + o+ FEES ;ff!#f}' & $ ssefeses & ers FEEF FFEFER FF 1+ + [ Serss 14+ +d+ SR EF sE2 A 86 Consol C pr pf 6.50 9% 7% Consol Cop M .15 32% 80% Consol Edison (2) 110% 107 Consol Edis of (5).. 8% 7 Consol O} (.80) __ 18% 148; Container Corp .25e. 12% Conu1 Baking (A).. 1 Contl Baking (B)... 41% Contl Can (1e) 38 Cont! Lnsur 1.60: 314 Contl Motor __.... 221 Contl Oi] (.268) ... 25 Contl Steel .250 . 16% Copperweld Stl .206. 5214 Copperweld pf 2.50.. 63 Corn Exchange (3). 581 Corn Products (3 4% Coty Inc (.25e) 7 Coty International. 19% Crane Co 2815 Cr of Wlll‘!ll) 61 Crosley Corp - 27 Crown Cork & Seal 37 Cr'nC&S pt ww 2.25 15 Crown Zellerb’k.76e 344 Crucible Steel 8% Crucible Steel pf. 6% Cuban Am Sugar. 79 Cub Am 8 pf (2k).. 124 Cudahy Packing 26 Cuneo Press (1.50). 31 Curtis Publishing . 18% Cutler-Hamm'r .25¢ 415 Davega Stores .25e_ 61 Davison Chemical. 19% Deere & Co 16% Del & Hudson 4% Del Lack & Wn. 18% Devoe & Ray A 25 38% Diamond M pf 1.50_ Diam T Motor Distill-Seagr (2) _ Dixie Vor(A)(2.50). Doehler Die C .25 Dome Mines (2) Douglas Air (3g)__. Dresser Mfg - Dunhill Internatl... Du Pont (1.76e) Du Pont pf' (4.50) . Eastern Afr Lines__ Eastn Roll Mills _. Eastman Kodak (6) Eaton Mfg (.76e)._. 4 Eitington Schild __ Eleoc Auto Lite .76e.. Electric Boat 60g.-. Electric & Music__.. % Elec Pwr & Light_ _ '3 Elec Pwr & Lt $6 pf. Elec Pwr & Lt $7 pt. Elec Stor Bat (2) Elk Horn Coal El Paso Nat G (2 Endicott-John (3).. Eng Pub Service Eng Pub'Sve pf 6.50 8 1813 34y bv-nl Product 2 Ex-Cell-O (.40e 2 Fairb’ks Morse(1a) Fajardo Sugar .50e_ Fed Motor Truck .. Fed Water Sve (A). Ferro Enamel (1. Fidelity Phoe 1.6 Firestone Tire .50e. First Natl Strs 2.50. Flintkote (1g) - Florence Stove .50e. 27 Food Mach (.25e) 105 Food Mach pf(4.50) 16% Foster Wheeler 29 Franklin Simon pf_. 317 Freeport Sulph (1). 25 31 16% 37% 19 43 18% 32 2% Gatr (Robert) . 1214 Gair (Robert) pf. 4% Gar Wood Indust _. 11 Gaylord Cont (.10e) 483 Gayl'd Cont pf 2.75_ 51 Gen Am Tra 2.376g_ 7 Gen Baking (.15 135 Gen Baking pf (8 73 Gen Cable 48!2 Gen Cable pf 197 17% Gen Cig: 117% 113% Gen Cigar pf (7). 41 367 Gen Electric (.35e)_ 49% 45% Gen Foods (2) .__ B 12 Gen Gas & El (A)._ 101 861 Gen Mills (42) ____ 56% 51 Gen Motor (.75e)._. 7% 4% Gen Outdoor Adv._. 19% 15% Gen Rwy Signal __. # 2 Gen Realty & Util 33% 274 Gen Refractor .2, 30% 24 Gen Steel Cast pf _ 24% 197 Gen Telephone 1.20. 13% 11% Gen Thea Equ .20e_. 18% 153% Gen Time Inst.25e. 23% 18'4 Gen Tire & R .5ve _ 6 Gillette Saf R (.60). 472 Glllette S R pf (5)_. 7 Gimbel Bros 47T% Gimbel Bros pf (6)- 16% GliddenCo _ 213 Gobel (Adolf) 80'% Gold Stock Tel 16'2 Goodrich (BF) 21% Goodyear T&R .50 % Graham-Paige T% Granby Consol .50e_ 9% Grand Uniom x ctfs. 31% Grant (WT) 1.20e.. 22% Great North'n pt 1215 Grt Nor O ctfs .75e. 30% Green (HL) ((2a, 15\/. Greyhound (1) Greyhound pf (.56). Guantanamo Sugar. Guantanamo S of Hall (WF) Prtg (1) Hamilton W pf (8) Harb-Walker (.50e) Hayes Mfg Corp __ Hecker Prod (.60) Helme (G W) (5a Hercules Mot .25e Hercules Powd 60« Hershey Choc (3 Holland Furn .50e_. Holly Sugar - Homestake (4.50)_. Houd Her (B) .25e_ Household Fin (4a). Houston Oi1 Howe Sound (3)_. % Hudson Bay 1.768.. Hudson & Manha Hudson Motor_. % Hupp Motor __. 111inots Central. IllinoisC L (4) Indian Refining Indust Rayon .50 Ingersoll Rand (1e) inland Steel (le) __ Inspiration Copper. [nsurshares (.20g). Interboro R T (r)__ InterboroR Tet __. Interchemical(.80e) Interchem pf (6) __. Interiake iron Intl Agrieul pr pf__ Intl Bus Mach (8a). Intl Harvester 1.60_ 8% Intl Hydro-El (A)_. 8% Intl Mercantile Ma. 57% Intl Mining (.10e)_. 30 Intl Nickel Can (2). 10% Intl Paper & Power. 50% Intl Pap&P pf 1.25e. 51 Intl Ry Cen A pf 2k. 34% 31% 24% Intl Silver 314 Lnt] Tel & Teleg 8% Interstate Dept Str. 13% Jarvis (WB)(.375e) 45% Jewel Tea (2.40) ___ 67 Johns-Manville 55% Jones & Lau pf (1k) 13 Kalamazoo Stov 50. 17 Kans City Sou pf 12 Kaufman Dept .25e. 10% Kelsey-Hayes (A) 5% Kelsey-Hayes (B)._. 90 Kendall Co pf (6a)_ 341 Kennecott Cop .25e.. 13% Keystone Steel .250 35 Kimberly-Clark (1) 25% Kinney (GR) $5 pf_ 24y Kresge (SS) 1.20a.. 25 Kress (8 H)(1.60).. 28% Kroger Groc (2) 15% Lambert (.75e) 30% Lee Rub& T (.'IIO). % Leh Valley Coal __. 2% Leh Valley Coal pf_ 3 Leh Valley RR (r). 21 Lehman Corp (.40e) 121 Lehn & Fink .2 26% Lerner Store, % 48Y% Libbey-Ow-IF (le). 6% Libby McN & Lib__ 109‘4 106 Ligg & Mye s(B)éa 29% 24% Lima Locomotiv 18% 11% Lion L1l Ref (1) 18% 15% Liquid Carbonic.60e 41% 27% Lockheed Airc 37% 33% Loew's Inc (3) . 109% 106 Loew’s Inc v! (8.50) 13% 43% 9% 29 118 108 90 80% 15% 118 6% b% 5% 34 3 2% 47% 40 113 108 12% 8% 38 324 191% 174 53% 4% + % 20s 94 93% 94 It 8% B% ~ 3 31% % 18% 12% 1% 46% 40% 3% 23% 3044 24% 67% b4l 60% 6% 1% 20 29% 6% 35 44% FERFIFEEFEF FEF 107% 29% 21 5 T 22% 17% % 19 40% 8% 19% 364 23% 1815 89, 28 8 18745 124% 40 5 18814 1247 41% 5 156 3674 124% = W 41% +1% 5 W 156 Y 35'% % 13 401, 17% 1% 6 29 33% 3214 1% 36 1551 354 404 % " W LS ke % +H++ ++ 1+ - o [ © S + +4+++ +++ o+ - > warasmelonsnnndonmreeasvnas~an S (00 & 8 & 5 FREEFEE w 3 ++ R ) EX R FEFE2 FE At I+t H IR+ + gl FF 12/fi 1% + % 9% + % 1 80%4-% 13% — % I‘%i"/a 25% + % 28% - % 34% + % 15% 30% = % 1% 4 34 24% 13% + % 2T% - % 50% +1 8% IOB% 108% 26 26% 13 134 + % 16% 16% — % 39 39% 36% 35 354k + 4 1 1000 100 1000 4 1 119 344 82% 33% - % 2% Long Bell (A) 167 Loose-Wiles .75e. 23% Lorillard (.30e) 1615 Louis G&E (A) 1.50. 83 MacAnda&Forb (2a) 234% Mack Trucks 27% Macy (RH)Co (15) 11% Madis Sq Gar .25 2% Manati Sugar 14% Man Ry mod gtd(r). 14% Man Ry m gtd ct(r) 14% Manhat Shirt (1) _. Midrdc.20e) 8t Ry pr pf. 13 Marshall Field .40_. 35% Martin (Glen)_. 7% Martin-Parry._ 31% Masonite Corp (1a). 25% Mathieson Alk 1.60. 14% McCall Corp (1.40)_ 147 McCrory Strs (1) 22% McGraw Elec (1) 7% McGraw-Hill (.30e 87 Mclintyre Porc (2a) 9% McKeesport Tin 6 McKesson & Rob _ 25% McKesson & R pf. 9% Mead Corp 64 Mead Corp pf (6). 29% Melville Shoe (2) 43 Mengel Co 21 Mengel Co69% pf. 13% Merch & Min Trans. 28 Mesta Mach (le) 8% Miami Copper .20 13% Mid Cont Pet (.40e). 33 Midland Sti P .50, Mid Stl 1st pf (8) 3% Minn-Maline Imp _. 4315 375 Minneap-Moline pf_ 11 9'2 Mission Corp (.65g) 2% Mo-Kan-Tex pf Mo Pacific pf (r) Monsanto Ch (2) ._. Mont Ward (1.75e) _ Morris & Es (3.875) Motor Products Motor Wheel (1.60) Mueller Bruss - Mullins Mfg (B) Mullins Mfg pt Munsingwear .25 Murray Corp Nash-Kelvinator._. 4 Nash Chat&StL le. Nat'l Acme (.50g) .. National Aviation__ Nat) Biscuit ( 40e). Nat’l Bond & S.30e._. Natl C: Reg (1).. Natl Dairy (.80) Natl Dairy pf A(7). 30s 1 Natl Dairy pf B(7). 10s 1 Natl Dept Stores __ 1 Natl Distillers (2) 6 Nat'l Gypsum Natl Lead (.60) Natl Lead pf(B)(6) Natl Malleable 25e. Natl Pwr & Lt Natl Steel (.50e) Natl Supply = Natl Supply $2 pf._. Natl Supply 5.50 pf. 2 Nat] Tea Co Natomas (.80) _ Newport Indus N Y Air Brake (le). 16% 18% 116% 11013 114 109% 615 5% 267 23 124 9% 2213 19' 14815 140 27 10 87 3% 9% 137 43% 83 10% 14% 50 Harlem (5) - H&H(r) __ H & H pf (r) Shipbilding N Y Shipbg pf 1.75k Noblitt-Sparks .60e Norfolk & Wn (10) _ Norfolk & W pf (4). r Am Aviation. _ Nor Am Co (1.20) No Am 65%% pf 2.875 No Am Co 6% pf (3) 3 ¢ Northern Pacific _ Northwest Tel (3)_. Norwalk Tire Norwalk T pf(3. 50) Ohito O} = Oliver Farm Equip Otis Elevator (.15e) Otis Elev pf (8) lfls 1 4 Otls Steel 2 Owens-I11 Gl (1le 2 Pac Am Fisherte 10 PacCoast 1stpf .. 40s Pac Finance (1.20). 2 Pac Gas & Elec (2). 31 Pac Lighting (3)__. 2 3 Pac Mills 5 4 Pac Tel & Teleg (1) 10s L. 7 Pac Western O .40g 2 Packard Motor 10 Pan-Am Atrways. 25 Panhandle 3 Paramount Ple @ Param’'t 2d pt « 60). Park Utah M .10e _. Parke Davis (.80e). Parker Rust (1) 4 Parmelee Trans_ Pathe Film Patino Mines Penick & Ford (3 Penney (JC) (.75e). Penn Railroad (1g) Pere Marquette pf_ Pere Marq pr pf. Pet Milk (1) _ _ Pfeifter Brew (1) Phelps Dodge .25 Phila& RC&1 (r)_ Philip Morris (3a) Phillips-Jones _ Phillips Petrol (2) Pierce Oil pf Pittsbgh Screw .15¢ Pitts Steel pf (B) ._ Pitts Steel 6% pf.. Phts& W Va £2 4 Plymouth Oil 1.40 . Poor & Co (B) - Port R Am To B(r). Pressed Steel Car__ Proctor & Gam (2a) Pub Svo (NJ) e Pub Sve(NJ)pf(8 Pullman (.25e) Pure Oil __ Pure 01l pf (5) Purity Bak (.25e)__ Quaker Sta Oil .25e. Radio Corp (.20e) . Radio C cv pf(3.50). Radio-Keith-Or (r). Rayonter Inc & Rayonier pf (.50k). Reading Co (1) ___ Reis & Co 1st pf Reming Rand ( 40!) Reo Motor vtc ctfs_ Republic Steel _ Rep Stl cv pf 7.50k. Rep Steel pf A (6)-. Revere Copper _. Revere Copper (A)_ Revere Cop 6%% pf. Reynolds Metals __ 612 Reynolds Spring .. 39% Reyn Tob (B) (le)- 6% Richfield Ofl (.50g). #* Rutland RR pf (r)-. 44% Safeway Strs .75e__ 111'/: 104 Safeway S pf (5) 361 St Joseph Lead (1) 29% 19% Savage Arms (.25¢) 14% 11% Schenley Distillers_ 79'% 172 Schenley pf (5.50)_. b 1% Schulte Retail 8 (r) 49 40% Scott Paper (1.60)_. i % Seaboard Afr L (r). 2% 1% Seagrave Corp. 88 80% Sears Roebuck (3). T0s 1 14 11 1 6 20s 1 234 104 407 " 9615 ™ 41% 9 8y 34y 19% 16% 223 123 % 1478 1% 4315 165 1601 32U 24y 1% 8w 8T TTH 15% 14 151 14y % 5% 69 60% 1% 25% 34 1744 18 : ) 151 27 14% 11% 10% 9 2 13 18% 9% 65 11y 22% 45% 9% 23% 95 9% 14% 30% 6114 15% 10% 43% 83 1’“3 86 3% 34 1T 17% 24% 24w 19% 19% 33% 33% 26% 29% 11% 4% 165 16% 15 4% % 14% 45 12% 33 32 b1% 104% 15 16% 26% 9 3l = 1% + 24% + 19% + 33% + 26% 29% + 11% 4% - 16% 16% ~ 15+ 4% + T% 16% + EFR FEF B R FFEEIFR 3% 10% 61 27% 13% 80 33% 83% - U 5% + W 21 = % 20% 29% - W 44'5 +3% 10% + % 3% + % f 3 4 114% +1% 5116 + % 264 - w 15% + ' 170 + % 224 + % + % +1% — 5 + % - 19% 14% 24 201 13% 18 1 110 10'; 110 5% 5% 25 25% 10% 10% 214y 143 25 8 + % + % + 4% =1% + % - % +1% +1 +1 L+ Y% +% % 65'% 8 12% + 40 +1 (e 10 1215 2374 22 57 584 8iy 35%% 37 38 T4 211 16 3814 1% 631 9 174% 13% 33w 443 15% 33 % 31y 225 # ™ I+++ L+ 4+ +++ 01+ FEE +1 . + - 4t 1 8614 +21% 73 -4 13% + 1% 281 +1 57 ~ i 18% + % 10% - 3 43 % 1% + % 51% + % 2% 851 ¥ OFEFET 13 Servel Ino (1) ... 12t Sharon Steel . 4% Sharp & Dohme 1 6% Shattuck (FG)( 0) 1 10% Shell Un Of) (.60g). 3 24 20% Simmons Co.__. 10 225 18% Skelly Of] (.25¢) 120 105 Sloss-Sheffield .75e. 24% 19% Snider Pkg . 12% 10% Socony-Vao .26 2% 2 SoAm Gold (.10e). 29% 22% 8o Porto Sug (1)_. 152 144% South PR pf (8).__ 28% Southn Cal B4 1.50a 159& 11% Routhern Pacific. _.. 20% 14Y% Southern Raflway.. 34% 25% Southern Rwy pf__. 1% Sparks Withington. 21 Spencer Kell (1.60). 41 Sperry Corp (2g) 29 . Spicer Mfg (le) 8% Spiegel, Inc (.30« 60 Spie; 5/ 16% 5% % 3% 3% Stand G&E 34 pf___ 10%; Stand G&E $6 pr pf. 13% Stand G&E $7 pr pf. 22% Stand Ofl of Cal (1) 25 Stand Ofl Ind (1) __. 76% Sterling Prod (3.80) T5% Stewart-Warne 9 Studebaker 56!% Sun Ofl (1a) - 9% Sunshine Min 1.60_ 20% Superheater (.50)__. 2 Supertor Ofl 28% Sutherl'd Pap 1.20_ 22 Swift & Co (1.20) 27% Swift Intl 12) = 7' Syming-Gould ww.. 5% Syming-Gould xw_. 341 Talcott(J)pf 2.75. 5% Tennessee Corp —__ 42% Texas Corp (2) 31 Tex Gulf Prod(.10e) 32% Tex Gulf Sul (2) _ 7': Tex Pac C&O (.40)_ 13% Thatcher Mfg (1) 34 The Fair pf _ 37% Thermotd _ 26% Thermold pf (.75k). 2% Third Avenue 4 Thompson (J R 27% Thomp Prod (.25e) _ 1% Thompson-Starrett. 10 Tide Wat A O.16e._ 20'; Timken-Det Ax (1). 4613 Timken R B (.50e) _ 5% Transamerica (.50) 12% Transcont! & W Alr 7 Transue & Will .15e 2% Tri-Continental 8% Truscon Steel 9% 20th Century Fox 21% 20th Cen F pf 1.50__ 2% Twin City Rap Tr__ 9'2 Twin Coach % Ulen & Co (r) 391 Underw-EIl1-F 50e 11% Un Bag & Pap .15¢). 78!2 Unlon Carb (1.10e) 16 Union Oil(Cal).50e_ 93 Union Pacific (6) ... 84 Union Pac pf (4) __ 4312 Unit Afreraft (2g). 1414 Unit Afr Lines 15% United Biscuit .50e 112 Unit Biscuit pf (7) 543 Unit Carbon (3) 2 Unit-Carr-Fast .30e United Corp United Corp pf (3)_. * United Drug ..~ ¢ United Dyewood - United Fruft (4) _ United Gas (mp (1) 2 Unit Mer & Mfg .50e United Paperboard U S Distributing pf 2 US & For'n Secur o = 2.2 gty o o NS RENEE WD NS RN NP NN S DLW EY ] 23% 18 119 65% 19% 2% W@ Leather (A) Pipe & Fdry (2) Realty & Im(r) Rubber Rub 1st pf (2e) S Sm & Ref (2e) USSm& R of 3.50 U S Steel (1e) 2 U S Steel pf (7) Unit Stockyards Unit Stkyds pt .70 __ Unit Stores (A) Univ-Cyclops S .20e Vadsco Sales Vanadium Van Raalte (.50e) _ Vick Chemical (2a) Victor Chem (.30e)_ Va-Caro Chem Va-Caro Chem pt Va Elec Pwr pf (6) Waldorf System .60 Walgreen (1.60)___ Walker (H) (4) Walker (H) pf (1).. Walworth Co - Ward Baking (A)__. Ward Baking (B)_—. Ward Baking pf___. Warner Bros Pict Warner Bros Pic pt Wash’ton G Lt 1.50. Waukesha Mot (1) Wayne Pump (le) _. Webster Eisenlohr. Wesson Oll & Snow West Penn E pf (6) West Penn E pf (7) 2 W Va Pulp & P 15e. WVaP&Ppf (6).. West'n Auto S (2)_. West'n Pacific pf__. West'n Union Tel Westh'se A B 50e _ Westh se Elec 875e Westhse El pf (3.50 Westvaco pf (1.50) Wheeling Steel ‘Wheel Steel pf (3k) White Motor 5 White Rock White Sewing Mch White S M pr pf (2) Wilcox Oil & G 10e Willys-Overland Willys-Overl'd pf__ Wilson & Co Wilson&Co pf (3k)- Wisc EP&L pf (6)-. Woodward Iron Woolworth (2.40) _ Worthington Pump Worth Pump pf B __ Worth Pump pr pf_ Worth Pevprof _. Wright Aero (2g) Wrigley (3a) 4 Yale & Towne (.60). Yellow Truck Young Spg & Wi 37% Ygstwn Sh & T 25 86 Ygstn S&T pf 5.50 1414 Zenith Radio (1e) 2 Zonite Products __. s . ) > 2 Pt i 700 1O DO D Ty O R O RO s i = N R N S R 1 D o0 we =32 & 10315 40% 331 f 211 22% 105% 1 28% 2814 118 138 130 394 35% 354 25% 100 100 13% 10% 11% 4% 6% 4'g 23 19% 3% 2% 3% 1% 9 - 8 - 9 = S . NN RN 108 T & i g i S 3 &2 4015 @ S = Fas 126 9% 23% 18% 134 44% 89% 15% 3% @ B EX-TY 33 13% 14% 5% % 12% 21% 20% 116 22% 10% 2% 28% 152% 30 Add 00. High, !fl' Close. chl‘ 10 13% 13% + % 14% 5% TV = LI+ 4+ 0 +++0 10 + + + +++ $E8 - = L4444 1+ 1+ |4+ 14+ + ++ ] FEFFIIEST P ] + 1 S 1134 +11% 24% 103% +13, 234 + & 2% 3% 6% T =3 69% + 1% 120 + 26% + U 40 22% +1% 69 40 42 52% +3% 126 9% + % 23% + % 18% + % 13% + % 44'% +1% 891 +1 15% + % 3%+ % Apfimxmmf. Sales of Stocks on the N. Y. Stock Exchange. 11:00 AM. ___ 260,000 1:00P.M. _. .. ., 540,000 sUnit of trading 10 shares 12:00 Noon . __ 2:00 P.M __ 420,000 630,000 DADKruptcy or receivership or being feorganizea under su rln Bankruptcy Act. or securitier assumed oy ich compan! Rates of dividend in the foregoins table sre annual dis- bursements based o dividena zr Ex rights Accamaiated aVidenas” pata st “vear” far this year yable in stock g Pald last year & Accumniated dividends paid or declared this n the last quarterly or semi-annual tion Dniess Otherwise Hoted SDECIAT or Wetrardividends a clude not A Dedtaren aL End ) United Engineering Backlog Advances Far Above 1939 Registers Gain of 212 Times Last Year, Ladd Reports By the Associated Press. PITTSBURGH, April 23.—George T. Ladd, president of United En- gineering & Foundry, told stockhold- ers today the company’s backlog of orders was 2!, times as great as last year and sufficient to keep the firm’s machine’ shops working at capacity levels for the remainder of the year. “Of the business now on the books,” Ladd said,- “a majority is foreign and since much of the nego- tiation was going on prior to the present European war, we believe these contracts would have been awarded to us regardless of such war conditions * * *.” He reported French and Japanese organizations of the company al- ready have produced “an important volume” of foreign business and the income from those branches “during 1940 alone should exceed our invest- ment in them.” Ladd added that Shibaura United Engineering Co., Ltd., in which the company has a large interest, has almost completed its plant and has booked capacity operations for the next three years. Roll business in 1939, he said, was 50 per cent greater than in 1938. Although running at slightly lower levels now, an increased volume in the near future was predicted. American air conditioning equip- | 2o ment has been introduced into Egypt. A 100 Tons of Lead Sold NEW YORK, April 23 (#).— St. Joseph Lead Co. reported 100 tons of Southeast Missouri pig lead sold yesterday at the New York average. No sales for East St. Louis. ‘Quoting $4.95 per 100 pounds. Foreign Markets LONDON, April 23 (#.—The :‘n Imnrovéd today d open ing the budget message due after the close. British government bonds advanced around '/n point and most foreisn loans moved rs were sgain supported and coppers and T, Dase metals found a firm footing. Indumn&le.den. wher anted for ehlnled inclined and domestic rails added an average stock mar- lespite unwillingness ward of around % poin PARIS.—Announcement ol British sue- btml in Norway cheered bourse traders {‘: and prices held firm thrulllhml Do- mestic equities oumrlw.d fln 'lh gains rlnmnz Du cent. Rentes advanced 15 to aa untlm noulb!e umui e w-rmw o fl I on”“"flut l:“nm“fi Ameriodn” soa: losses. A But Many Remain In Narrow Rut Few Motors, Specialties And Steels Advonce; 900,000 Traded Stock Averages Indust, Rafis, 06, Sis. Net change -+.1 unc. unc. unc. Today, noon 71.7 189 38.8 50.0 Prev. day_. 71.8 189 388 50.0 Month ago. 70.7 182 385 49.3 Year ago___ 619 169 352 438 1940 high__ 742 205 406 52.2 1940 low._. 69.9 18.0 383 492 1939 high__ 770 238 406 539 1939 low... 58.8 15.7 33.7 416 60-Stock Range Since 1927: 1937-38. 1932-36. 1027-29. 5.3 Kt High ___ . 33.7 16.9 513 Low = (Compiled by the Associated Press.) By VICTOR EUBANK, Assoclated Press Pinancial Writer. NEW YORK, April 23—A few steels, motors and specialties steppec forward in today's s many leaders inclined to huddle in the rear ranks. The list tried to rally at the start It met just enough selling to put brakes on the push. more than 2 points. There were scattered lively peri-| ods, interspersed with slowdowns Transfers for the full session wers around 900,000 shares. Wall Street still groped in the dark so far as definite conclusions regarding the European war, busi- ness and politics were concerned and many traders remained in neu- tral territory pending more light on these subjects. At the same time, some specula- tive contingents saw pleasing omens in the flow of encouraging corpora- tion statements and accorded sup- port to issues they believed were about ready for revival, Best share performers include¢ United States Steel, Bethlehem Chrysler, du Pont, American Air- lines, Standard Oil of New Jersey Sears Roebuck, Dresser Mfg., Allie¢ Mills, Celanese, Worthington Pump Atlas Tack and American Wooler common and preferred. Some of these touched new tops for 1940, Loft was under pressure the great- er part of the day and the majority of the aircrafts lagged. Utilities rails, coppers and rubbers were nar- Tow. Chicago Grain By the Associated Press. CHICAGO, April 23.—Except for a brief fractional rise, wheat futures were moderately lower most of the time today, reflecting rain in the domestic grain belt and continued | heavy receipts in the Northwest. May contracts, which led the de. sline, fell to $1.10%, off 1% cents af the most, while July, representing the new crop, sagged to $1.083%, off a cent. Rallies from these lows were frequent, however. Arrivals of wheat at Minneapolis and Duluth totaled 932 cars, againsi| 687 a week ago and 359 a year ago Despite this price dips at Minne. apolis were small and at times the market was higher. Wheat on the Board of Trade closed % up to 5% lower, May, $1.11. 111%; July, $1.09%-1.09%; corn 14-% lower, May, 643,-645;; July 6512-65%5; oats unchanged to ¥| down. WHEAT— Oven. High. Low. May =-L11 1113, July 1.09 i.flfl % Barley k feed. ‘40-50 nominal: No. 3 m 62 Bov heans. No. 3 vellow, 110. Winniper Prices. WINNIPEG, Abril 23 (Pr—Grain range today. Wi High. Low. 003, | 0215 (92% 94% 9d% 80'2 39% Baltimore Quotations. BALTIMORE. Apri] () —Wheat. No 1853 winter. garlicky. "spot.” domestic, .39% New York €otfon By the Associated Press. NEW YORK, April 23.—Evening Spot houses were chief source of supplies selling at limits with short covering and trade price fixing ab- sorbing most of the offerings. Wall Street and Bombay bought moderately in distant months in- spired by increased apprehension for new crop prospects. Late prices were 3 higher to 1 lower. May (old), 10.81; July (old), 1055, and Decem- ber, 10.10. tonseed Ol Bleachable crm.anseed higner to 1 lower May. 6.95. 2 Cober. .15, NEW ORLEANS, Afru 23 _(P.—Cot futures lenud on elgn ind dom.l‘:& irlde buying .1 6 points net hl? new commitments pend- | October 6500 Jois 6,87 tober, §.64b. b—Bid. Dog Proves He's Republican IRONTON, Ohio (P»—Most Re- publicans will think Dr. C. E. Vidt's dog is a right smart canine, indeed. Says the doctor to his pet: “Would you nmerbeldnddu:nbamo-