Evening Star Newspaper, May 1, 1940, Page 18

FINANCIAL: """ ppp EVENING STAR, WASHINGTON C., WEDNESDAY, MAY 1, 1940, Capital Bank Stocks TRANSACTIONS ON THE NEW YORK STOCK EX CH AN G E|Steels and Aircraft By Private Wire Direet to The Star, Prev. 1040 Stock and Bales— Net. | Prev. 1940 Stock and Sales— Net. | Prev. 1h40 Sellmg Around Best Prev. High. 521y Dividend Rate. Add 00. High. Low. Close. chse. 80% Sears Roebuck (3). 57 36 Bales— Add 00, High. Low. 85% + b 85% 1 48 » 48 1940 Stock High. Low. Dividend Ra Add 00. High. Low, Close. chse. | High. Low. Dividend Ra Add 00. Hish. Low. Close. chse. | High. Low. Low. Dividend Rate. i "4% Coty Inc (.25) 136k 8% 6k 7% Martin-rFarry 3 e 12 58 45 Acme Steel (3) . ,.. “a Coty International.. 1% 1% National Savings Shares at Highest Point in Years By EDWARD C. STONE. Bank shares listed on the Wash- ington Stock Exchange are now sell- ing at the year's highest marks or close to the best 1940 prices, a survey of present quotations discloses. The latest sale in National Savings & Trust Co. stock at $200 a share was , the ‘highest price reached in many years. The last sale in American Security & Trust Co. shares at $249.50 a share compares with an| earlier sale this year at $252. The | last sale in Liberty National was registered at $170, up from $166. Riggs National Bank common sold vesterday at $278 a share, off two Points from an earlier 1940 quota- tion. Washington Loan & Trust Co. stock has changed ownership this vear at only one figure, $247.50, while Bank of Bethesda, which is also list- | ed on the hoard. has moved at the one price of $35 a share. $40 a share nhow being asked for this issue. Several bank stocks listed on the exchange have yet to register their first 1940 sales. National Capital Bank stands at $150 bid and $175 asked; Commerce & Savings records | $300 bid. none offered; Lincoln Na- | tional $200 bid. none offered: nggs‘ National preferred $101.50 bid, and | National Bank of Washington $121 bid, with none quoted for sale, the survey discloses. Origin of House of Morgan. The “House of Morgan,” recently | in the limelight when the huge| financial institution decided to in- | corporate and discard its former privacy, indirectly harks back to M street in Georgetown, according, to xpmxd relating to some of the early “masters of Lapual % The book, “The Masters of Capi- | tal,” written 20 years ago by Joluu Moody, connected with Moody financial reports, says that the great | | financial houses of Wall Street near- 1v all started as firms engaged in the dry goods or clothing business. That was true of the Morgans, Brown Bros.. Kuhn, Loeb and others. Most of the money in those days was | employed chiefiy by merchants and the wholesale handling of merchan- | dise was among the most momaalm of undertakings In the year 1811, Moody 16-vear-old dry goods clerl Peabody. was thrown out ployment by .the burning of his| brother’s little store in Newbury- | port, Mass. He then went with an uncle to Georgetown, D. C. (since incorporated with Washington), and‘ opened a small retail dry goods atoxe; say , George of em- there. Feabody Fortune $20,000,000. After some vears in Georgetown, | he moved to Baltimore, established | branches in Philadelphia and New | York and at the age of 42 went to London and founded the merchant | banking house of George Peabody & Co., which later became J. S. Morgan & Co. In London. the chief financial center of the world. George Peabody represented the greatest and most profitable field for the in- | vestment of capital, the American | continent, as yet unscratched. | Peabody amassed a fortune of $20,- | 000,000, became the greatest philan- | thropist of his time. refused a title | of nobilitv from Queen Victoria and | died in 1869. A statue was erected | in London’s financial district to his | memory. When Peabody retired in | 1864. Junius S. Morgan became the\ head of the busines The elder J. P. Morgan, as a 3oung’ man, worked in the Peabody offices | in London. According to the rec- ords. he absorbed many of the tech- nicalities of commercial banking which Peabody originated, at least | in part, in Georgetown, during the vears when he was a struggling young merchant. Dulin to Arrange Dinner. Ord Preston, president of the Dis- trict Bankers' Association. an- nounced today that the annual pre- convention dinner will be held at | the Columbia Country Club on ‘Thursday, May 16, and that James | C. Dulin, jr., treasurer of the Amer- ican Security & Trust Co., has been named chairman of arrangements. | S. William Miller. treasurer, Union | Trust Co.. is vice chairman. More than 250 bank officers and | directors are expected at the din- | ner. Chairman Dulin is anangmg‘ an interesting program. A golf | tournament will be held in the af- ternoon, the winner to secure the | Robert V. Fleming Golf Trophy. | There will also be other prizes. Building Status Praised. Frank Hardings, executive secre- tary of the American Society of Res- Ident Appraisers, addxemng the Dis- trict Building and Loan League yes- terday, lauded the building situation | in Washington, stating that this m-; ritory and the Pacific Northwest are the brightest spots in the coun- try at present. Horace Russell, Chicago, geneml‘ counsel of the United States Sav- ings and Loan League. was an honor guest at the luncheon and spoke briefly on current legislation. The league voted to hold the an- nual outing for members and guests on June 19 at the Washington Coun- try Club, the Committee of Ar- rangements being made up of Chapin Bauman, chairman; John J. Kolb, C. Gay Harrell, Wilfred H. Blanz, C. J. Bergmann and R. E. Hotze. Financial District Comment. Silas E. Moore, veteran employe of the National Metropolitan Bank and assistant manager of the Wash- ington Clearing House Association, who has been confined to his home with illness, is reported as some- what improved. Among the reports heard by the governors of the National Associa- tion of Securities Dealers, at the Carlton Hotel yesterday, was that of the National Educational Com- mittee, of which Y. E. Booker of this city is chairman. The Amott-Baker realty bond| price averages show practically no| changes during April. it was an- nounced today. The list covers 200 leading Eastern issues. Washington Gas Light 5s, 1960, sold at 131'. on the Washington exchange today, the highest priced bond on the board. Capital Traction 5s sold at 1013, off an eighth. Washington Railway & Electric preferred, at 117, again moved at the high for 1940. Bank of Bethesda stock sold at 30, « Ti» Adams Express . S Air Way Blec Appl 6 Alaska Juneau .60_. * Alleghany Corp._.. 10% Allegh’y $30 pf ww. 9's Alleghany pf xw. 13% Allegh'y prior pt. 181 Alleg-Ludlum .2! 9'% Allen Indust (.25e). 171 Allted Chem (6) .. 13 Allied Mills Th Allied Stor: 63% Allied Stores pf(5).. 33l Allis-Chalmers 2| 13% Alpha Port Cmt.5 53 Amerada (2) 41% Am Alrlines 46 Am Bank N pt (3) 514 Am Bosch 384 Am Brake Shoe .30e. 133 130': Am Br Shoe pf 5.25. 1165 11 Am Can (4) 23'3 Am Car & B‘oundry. 38'; Am Car & Fdry pf__ 19% Am Chain & C .80e. 6 Am Colortype .25e . 6% Am Come'l Alcohol . 81'¢ Am Crystal S pf (6) 2'2 Am Encaustic Til _ 1's Am & Foreign Pwr_ 18 Am & F P 6% pf.60k 214 Am & F P 7% pf.70k 287 Am-Hawia'n SS (1) 4's Am Hide & Leather. 56's Am Home Pr (2.40). 29y Am 1 s '« Am Ice pf (.50e) 50% Am Inv I pf (2.50) 18/ Am Locomotive _ 13 Am Mach & Fy(.80) : Am Metals (le) Am Power & Light _ 43 Am P&LS$5pf 1.875k 51'¢ Am P&L $6 pf 2.25k 8 Am Radiator ___. 13% Am Rolling Mills 11! Am Satety Raz 1.20. 9'x Am Seating (.50g 16% 9 [ CEE T PNTE T SPRsY ey g 153 « Am Ship Building . 2 Am Sm & Ref (le) Am Sm & Ret pt () Am Snuff (3a) Am Snuft pf (6) % .Am Steel Fdry 5ve_ 12 Am Stores (.z5e) 15 \m Stove (.50e) _ 18% Am Sugar Refining. Am Sugar R pt (7). Am Sumat Tob (1) Am Tel & Tel (9)__. Am Tobacco (5) Am Tobacco(B)(5). 144% Am Tobacco pf (6)_ 8% Am Water Works__ 7 Am Woolen Am Woolen pf (3k). “ Am Zinc _ » Anaconda (. Anaconda Wire & C. Arch-Dan-Mid .Tve_ ~ Armour «111) = 46'4 Armour (111) prpf_. 37 Armstrong C'k .ave. 7': Artloom Corp - T's Assoc Dry Goods .. 21': Atch TopkSanta Fe 501; Atch T&SF pf 2.50s. 164 Atl Coast Line _ 13% At Gulf & W Ind n 201 Atl Rehning (1) 107 Atl Refining pf (4)_ » Atlas Corp (50g) Atlas Powder (.75e) Atlas Powder pf(3) 6 Atlas Tack __ 1'2 Auburn Auto (r) Austin Nichols 16% Austin Nich pf (A). 6 Aviation Corp . __. 14 Baldwin Loco ctfs_. 4% Baltl & Ohio (r) __. 5% Balt! & Ohlo pf (r). Bangor & Arstook Barber Asphalt .50e Barker Bro pf 2.75 Barnsdall Oil .30e _ Beatrice Crea (1a) ‘s Bendix Aviat'n (le) Beneficial Loan .45e 35! Best & Co 1.60a) ._ 70 Beth Steel ( )=s Beth Steel pf (7)___ «Blaw Knox _. _ 137, Bloomingdale 3756 19« Boeing Airplane 21'; Bohn Alum'n (.25e) Bon Amt (B) 2.50a_. Bond Stores (1.60) _ Borden Co (.60e) Borg-Warner (. » Bower Roll B (3) . Brewing Corp (.60). Bridgeport Brass _. Briggs Mfz (.50e) Bristol-Myers 2.40 .. 4's 131 Bklvn-Man Transit. 107 Bklyn-Man Tran pf. BKlyn-Man pf ctfs Bklvn & Queens Bklyn Un Gas Brunswick-B .2 Bueyrus-Er Budd Mfg an Lia Ve ) 4% Budd Wheel __ Bullard Co (.25e) ‘s Bulova Watch (2a). 18 Burlington M (1) 10'« Burr's Add M 2 31« Bush Terminal _ 84 Bush T Bldgs pf. 612 Butler Bros (.15e) 11 Byers(AM)Co _. 13% Byron Jackson (1). 11« Callahan Zinc h’ : Calumet & Hec .5 «Campbell Wy 6. Canada Dry 4% Canadian Pacific 5 Capital Admin (A)_ Ri: Cap Adm pt A (3) _ Carriers & Gen 0je. 66 Case (J 1) Co 44'4 Caterpillar Trac(2) 'elanese Corp .60a Cefanese pr pf (7) Celotex Corp Celotex Corp pf(5) 21% Cent Aguirre (1.50) 111'« Cent Il L pf (4.50)_ 4'4 Central RRof NJ__ 67, Central Vio Sugar_. 36% Cerro de Pasco (Ze) 6'a Certain-teed 274 Certain-teed pf____ 1814 Chain Belt (.50e) _ 21 Champ Pap & F .13e i Chesapeake Corp (r 384 Ches & Ohlo (2.50) _ 1's Chi Grt West pf (r) '“Chi MStP&P (r).. 1+ Chi M St P&P pf(r). ' Chi & Northw'n (r). 1075 Cht Pneu Tool “WChMRI&P(r) . ‘s Chi RI&P 6% pf(r). 11'x Chickasha Cot Ofl_.. 454 Childs Co 7912 Chrysler Corp 1.256 12% City lce & Fuel .30e City I&F pf (6.50) . City Stores Clev Graphite(.40e) 51« Climax Molyb 1.20.. 357x Cluett Peab (.50e)_. 136 Cluett Peab pf (1) 118 Coca-Cola (.75e). 15% Colgate-Pal-P (.50) 28 Collins & Afkm’n Ze. 17 Colo Fuel & iron 23 Colum B C (A) 45 22% Colum B C (B) 4! 5% Columb G & El .20e. 86 Col G&E f (A)(6) 6% Columb Ple vtc 1912 Columb Pic pf 2. 87 Columb'n Carb (1e) 45 Comecl Credit (4) 51 Comel Inv Tr (4)... 13 Comel Solvents 307 Comwlith Ed (1.80). 1 Comwith & South'n. 621« Comwith & S pf (3). 21% Congoleum (.25e) _. 25 Consol Atrcraft . T Consol Cigar (.76e). 79 Consol Cigar pt (7). 86 Consol C pr pf 6.50 7% Congol Cop M .16 3074 Consol Edison (2). “» Consol Film __. 814 Consol Film pf . zsh 142 131 20 3513 215 140 100% Consum Pw pf 4.50_ 19'; 14% Container Corp .50e 15% 12% Contl Baking {A)._ 1% 1 Contl Baking (B).. 49 41% Contl Can (1e)..._. 11613 113 Contl Can pf (4.50)_ 9% 6% Contl Diamond .25e. 38 Contl Insur 1.60a) 3'» Contl Motor ... 2214 Contl Gl (.25e)«. 25 Contl Steel 250 15' Copperweld Stl . 52'2 Copperweld of 2.50_ 682 Corn Tneu 3)-. ,. g Y pancEaFadoasonantSunaan 4 5 AN W R A o o [SE4'S 4745 P+ttt tn++10+ $F £ ERss | 105 101 19% Crane Co - 28 Cream of Wh-((!) 6% Crosley Corp_ . _ 27 Crown Cork & Seal.. 15 Crown Zellerb’k.75e 89 Crown Zeller pf (5). 34% Crucible Steel __. 8% Crucible Steel pf. 614 Cuban Am Sugar._.. ' 79 Cub Am 8 pf (2k).. 124 Cudahy Packing ... 314 Curtis Publishing . 40% Curtis Pub pf (2k)_ 9ta Curtiss-Wright 27% Curtiss-Wr(A) .60e 18!z Cutler-Hamm'r .25e 4111 Dayton P&L pf 4.50 19% Deere & Co. 25% Deere & Co pf(1.40) 16 Deisel-Wem-G .375¢ 16% Del & Hudson 4'2 Del Lack & Wn _ O s Den R Gr W pf (r)._. 11814 Degroit Edison (3e) 18% Devoe & Ray A .25e. 33'a Diam'd Match 1.50 .. 383 Diamond M pf 1.50_ 8 Diam T Motor Distill-Seagr (2) Dix{e-Vortex .25e . Dixte Vor(A)( Dochler Die C .. Dome Mines (2) _. Douglas Air (3g) .. Dow Chemical (3) Dresser Mfg Duplan Silk pf (8) Du Pont (1.75e) Eastern Air Line: Eastn Roll Mills Eastman Kodak (6) Katon Mfg (1.50e) . Eitington Schild Elec Auto Lite .75e Electric Boat 60g-. Eleo Pwr & Light _ Eleo Pwr & Lt §6 pf. Elec Pwr & Lt $7 pt. Elec Stor Bat (2) Elk Horn Coal. El Paso Nat G (2)_. Fing Pub Service _ = Eng Pub Sve pf (5). Erie RR (r) - Eureka Vacuum Cl. Evans Products + Ex-Cell-O (.40e) ___ 2 Fairb’ks Morse(1a) Fajardo Sugar .50e. Fed Lt & Trac (le). ‘ed Motor Truck _. Fed Water Sve.(A). Ferro Enamel (1a). Fidelity Phoe 1.60a. 184 Firestone Tire .50e_ 104 Firestone pf (6) _. 433, First Nat) Strs 2.50. Flintkote (1g Florence Follansbee Br Food Mach Foster Wheeler. __ » Freeport Sulph (1). 4+ Gair (Robert) . 1212 Gair (Robert) pf Gannett Co pf (6). 7% 6'a Gen Am Invest ___ « 51 Gen Am Tra 2375g. 81 7 Gen Baking (.15e)_. 145 1331, Gen Baking pf (8) 117 ‘< Gen Cable - 29'3 iR Gen Cable (A).. 87 481; Gen Cable pf . _. 197 17': Gen Cigar .25e 117'2 11314 Gen Cigar pt (7 41 367 Gen Electric (.35¢)- 49% 45 Gen Foods (2) __. Gen Gas & El (A).. Gen Motor (.75e) Gen Motors pf (5) 43« Gen Outdoor Adv 72 Gen Out Ad(A) 2 » Gen Print Ink 10e .. Gen Rwy Sig pf (6). « Gen Refractor .2 14': Gen Shoe (1.20) Gen Steel Cast pf . 19°« Gen Telephone 1.20. 113 Gen Thea Equ .20e _. 15% Gen Time Inst .25e_ 98 Gen Time Inst pf 6_ 17% Gen Tire & R .50e _ 6 Gillette Saf R (.60). 7 Gimbel Bros._. 16% Glidden Co 2': Gobel (Adolf) « Goebel Brew (.20)_. 16! Goodrich (BF) _ . 6314 Goodrich(BFpf(5) Goodyear T&R .T5e Goodyear vt (5) .. ham-Paige _ iranby Consol .50e Grand Uniom x ctfs. Granite City S Grant (WT) 1.20e_ Great North'n pf Grt Nor O ctfs .75e. Great Wn Sug ( Great Wn S pf Green (HL) ((2a)_. Greyhound (1) Greyvhound pf (.55). Grumman Aircraft Gulf Mob & Nor pf_ Hall (WF) Prtg (1) Hanna(M)pf(5) Harb-Walker (.50e) HatCorp (A) _____ Hayes Mfg Corp ... Hecker Prod (.60)_. Hercules Mot .25e _ Hercules Powd 60e. Hershey Choc (3) Hinde & Dauch 25 2 Holland Furn .50e _ Holly Sugar ~ ___ Homestake (4.50) _ Houd Her (B) 2 Household Fin (4a) ton Oil Sound (3) Hudson Bay (1e) « Hudson Motor_, Hupp Motor [1linots Central Indian Refining Indust Rayon .50e Ingersoli-Rand (2e) Tnland Steel (2e) Inspiration Copper. Insurshares (.20g)_ Interboro R T (1) Interchemical(.80e) Interlake iron Intl Agricul prpf__ Intl Bus Mach (6a). Intl Harvester 1.60_ Intl Hydro-El (A)_. Intl Mercantile Ma._ Intl Mining (.10e) _.. Int) Nickel Can (2)_ Intl Nickel pf (7) _. 20% 10% Int] Paper & Power 73 50% Intl Pap&P of 1.25e. % 313 Intl Ry Cent Am 51 Intl RyCA pf 3.25k_ 31 Intl Tel & Teleg 3% Intl T& T for'n cfs. % Intertype Corp .40g. 133 Jarvis (WB)(.375e) 457 Jewel Tea (2.40) ___ 67 . Johns-Manville 55 Jones & Lau pf (1k) 10% Kelsey-Hayes (A)_. 57 Kelsey-Hayes (B)._. 90 Kendall Co pf (6a)_ 34)% Kennecott Cop .25e. 13% Keystone Steel .25e. 2! Kinney (G R) 2414 Kresge (SS) 1.20 2812 Kroger Groe (2)_. 14 Laclede Gas pf. 15'% Lambert (.75e) 29% Lee Rub & T (.75e). 21% Leh Port Cmt .75 % Leh Valley Coal ... 2'3 Leh Valley Coal pf_ 2% Leh Valley RR (1) 21 Lehman Corp (.40e) 26% Lerner Stores (2) _ 5'4"\ 48Y% Libbey-Ow-F (1e)_ 9% 6% Libby McN & Lib 109'5 105 Lizg & Myers(B)4a 2313 19 Lily Tulip Cup 1.20. 14% 113 Lion L1l Ref (1) 18% 15'2 Liquid Carbonic.50e 278 Lockheed Airc ... 1815 118 341, 165 18 75 120 116' 1891 175 1215 161 374 20 51 25% 18 201 ’R'/‘ 234 9a Th £ 13% 9% 5% 29 24% 118 108 901, 8012 15 11% Gh 5% 54 S 47% 40 874 321 2174 W 534 5% 3l 141 83 3. 53, ARix 298, 133 129 39% 18'% Loft Inc - 4613 42 Lone Star Cmt (3) 167 Loose-Wiles .75e 25% 23% Lorillard (.30e) _ 160 149% Lorillard pf (7). 211 16% Louls G&E (A) 1. 54% Louis & Nash 1.25 33 MacAnd&Forb (2a): 23% Mack Trucks . . _ 27% Macy (RH) Co (1e). 33% Magma Copper .50e.. 14% Man Ry mod gtd(r) 14% Man Ry m gtd et(r) 28 Mnn Ry gtdot(r).__ 14! Manhat Shirt (1) . 4% Marine Mjdrac.20e) 37 Market St Ry pr pf. 13 Marshall Fleld .4 354 Martin (Glen) ... ¥ sreoND D R ® R et - T ) Exxo 7w P T PO P PR T o wE B e 1o G100 B R S A S 11 o T oo o1t 11 0 18 2910 1008 25 Lo o - s H 10 g woeErsalaeReamahn~Neromes - s 9 ® @ 2. - e 194, 284 6% 35% 19 941y 381y 91 T 88% 14Y% 34 48% 191 284% 6% - % -8 2: 161% +1% 19 + 56 + u 3214 -1 25% — % 29y ~ 5 35% 168 164 = % 31 14% - % 4% = 4 6% = % 145 = % 31!2 Masonite Corp B 25's Mathieson Alk 1.50. 50 May Dept Strs (3).. 313 MaytagCo .. __._.. 98 Maytag 1st pf (6)__ 14% McCall Corp (1.40). 147 McCrory Strs (1) 108 NcCrory Strs pf(§). 22% McGraw Elec (1) .. Mecintyre Pore (2a). 9% McKeesport Tin 6 McKesson & Rob _. 4 McKesson & R pf. s McLellan Strs .40e.. Mead Corp Mead C pf(B) (5. 50) Melville Shoe (2) Mengel Co - Mengel Co 6% pf. Merch & Min Trans Mesta Mach (le) Miami Copper .20 Mid Cont Pet (.40e). Midland Stl P(1e) __ Mid St) 1st pt (8) Minn-Hon Ros (2a) Minn-Moline Imp Minneap-Moline pf . = Mission Corp (.658) Mo Paecific pf (r)___ Monsanto Cb (2) Monsanto C pf 4.50. Monsanto pf B 4.50_ Montz Ward 2 Morrell(J)& Co Morris & Es (3.875) Motor Products Motor Whee) (1.60) Mullins Mfg pf Munsingwear .25 Murphy (GC) (4)__. Murray Corp . Nash-Kelvinator Nash Chat&StL 1 312 Natl Acme (.50g) __. atl Aviation . atl Biscuit(.80e) . Natl Cash Reg (1) Nat! Dairy (.80) Nat] Dept Stores _ Natl Dept S pf .30k Natl Instillers (2)_. Natl Gypsum Natl Lead ¢.60) Natl Malleable 2. Nat) Pwr & Lt 60__ Natl Steel (.50e) ___ » Natl Supply Natl Supply 6.50 pf. Natl Tea Co Natomas (80). __ Newmont Min .50e.. Newport Indus - N Y Alr Brake (le). N Y Central N Y Chi & St Louis. NYChi&sStLpr. \ ? Dock pf _ NYNH&H (r) Y Shipbilding oblitt-Sparks 6 orfolk & Wn (10) . : Nor Am Aviation Nor Am Co (1.20) No Am 6%% pt 2 orthern Pacific. orwalk Tire _ 12 Ohio Ol (.20e) = Oliver Farm Equip. « Omnibus pf (8) Otis Elevator 2 Ous Steel Otis Steel 1st pt Owens-111 Gl (1e) Pac Am Fisheries__ Pac Coast 1st pt_ = Pac Coast 2d pf Pac Gas & Elec (2). Pac Lizhting (3) 4 Pac Tel & Teleg (1) 5 Pac Tin Consol .20e Pac Western O .40g. Packard Motor Pan-Am Alrway Panhandle Paraffine pf (4) Paramount Ple _ Park Utah M .10e _. Parke Davis (.80e). Parker Rust (1)___. Parmelee Tra Pathe Film Patino Mines _ Penick & Ford (3) Penney (JC) (.T5e). Penn Coal & Coke _ Penn-Dixie Cement Penn Glass Sct.7ig Penn Railroad (1g) Peoples Drug(new) Peoples GL1&Cile) Pere Marquette pf_ Pere Marq pr pf.. Pet Milk (1) __ Petrol Corp (.70g) Pfeiffer Brew (1) __. Phelps Dodge .25 Phila Co 6% pf (3)_. Phila& RC& I (r). Philip Morris (3a)_. Phillips-Jones ___ Phillips Petrol (2)_ Phoenix Hosiery Phoenix H pf 2.6 Pierce Oil pt Pilisbury FI (1.60)_ Pitts Coke & Iron __. Pitts Ft W pf (7) Pittsbgh Screw .15e Pitts Steel pr pf_ Poor & Co (B) _ Port R Am To A( Pressed Steel Car __ Proctor & Gam (2a) Proctor & G pf (5)_. Pub Sve (NJ) 6de__ Pub Sye(NJ)pf(7)_ = Pub Sve(NJ)nf(8)._ Puliman (.25e) Pure Oil Pure Ofl pf (5) _ Purity Bak (.25¢)_. Radio Corp (.20e) __ Radio C v pf(3.50). Radio-Keith-Ur (r). : Raybest-Man .25e__ Rayonter Inc. Rayonier pf (.50k).. Reading Co (1) Reading 1st pf (2) Reading 2d pf (2)._ Reis & Co 1=t pt Reming Rand (.40e) Rem R'd pfww 4.50. Reo Motor vtc ctfs_ Republic Steel - 2 Rep Stl ev pf 7.50k_ Rep Steel pf A (6)_ Revere Copper .. . Revere Copper (A)_ Revere Cop 6%% pf. Reynolds Metais __ Reynolds Spring . Reynolds Tob .50e Reyn Tob (B) (le)_ 6% Richfieid O1] (.50g). 18' Ruberoid (1.10g) .. 3 443 Safeway Strs .75e__ 1104 Safeway S pt (5) 2 3614 St Joseph Lead (1)- '» St L-San Fran (r) 19' Savage Arms (.50e) 11% Schenley Distiliers '« Schulte Retail 8 (r) 45 Schulte R S pf (r)_. ' Seaboard Afr L (r)_ 17!y Seaboard Oil (1) 1% Seagrave Corp_._.. ur 29 1184 104 118 1161, 12133 118 493, 401, 2614 100 e P e R e Lk R ISR SO - - A 3 e 16% 15% b4 T 131 643 24 25 324 29%, 513 243 124 215 291 30% 15% ERY 23% 47 383, 21 41 1% 6613 60 Tin T2 2254 29 25 40 915 Stol 9 10 2 20 ccc:c:cc:—'c A ) 115 e I 11013 1055 108 1021 115 1” Wes l"w 4 193 Wh 4 513 227, 383 N T 34 105 l 0 P.ML tion far this year 2 ~ |l 121; Servel fno (1) _.. 12 Sharon Steel . 4% Sharp & Dohrne 6% Shattuck (FG)(.40) 10% Shell Un Oil (.60g). 5% Silver King (.10e) . 20" 8immons Co 21% Simonds S & S .40e_ 120 105 Sloss-Sheffield .75¢ 11274 11248 Sloss-Sh pf (6)cald. 19% Snider Pkg 10% Socony-Vac .25e 2 So Am Gold (.10e)__ 22' So Porto Sug (1) _. 287 Southn Cal EA 1.50a 115 Southern Pacific 20's 14}, Southern Raliway.. 347 25' Southern Rwy pf _. 1% Sparks Withington 70% 65 Spear & Co pf (5.50) Spencer Kell (1.60). Sperry Corp (28) .. 29 Spicer Mfg (le)___. 572 50'4 Spicer Mfg pf A (3) 7 Spiegel, Inc (.30e)... Spiegel Inc pf 4.60 40!y 293, Square D Co (.30e)_ 6 Stand Brands .20 1'4 Stand Gas & Elec. 3% Stand G&E $4 pt___ 1314 Stand G&E $7 pr pt. 26' 22Y% Stand Ofl of Cal (1). Stand Ol fnd (1) Stand OfI N J (1a)_. 281; Starrett (L§) .50e__ 764 Sterling Prod (3.80) 5% Stewart-Warner 5 Stokely Brother: Studebaker Sun Oil pf (6) 9% Sunshine Min 1.60 2 Superior Oil _ T's Tex Pac C&O (.40) Tex Pac Ld Tr.10g. s Thermoid '« Third Avenue 4 Thompson (J R) « Thomp Prod (.25e) . » Thompson-Starrett. Tide Wat As O .40e Timken-Det Ax (1). 46': Timken R B (.50e) _. 5% Transamerica (.50). 12% Transcont! & W Air 214 Tri-Continental 4's Truax Traer C 20th Century Fox ._. 20th Cen F pf 1.50__ Twin City Rap Tr _ Twin City Rap T pf. Twin Coach - Ulen & Co (r) Underw-Ell-F 50e .. 117 Un Bag & Pap . lSe). 3 2 Unfon Carb (1.10e) _ -18 Union Oil(Cal).50e 3 Union Pacific (6) Un Tank Car 1.20; Unit Afrcraft (2g)_. » Unit Air Lines 15% United Biscuit .50e_ 54% Unit Carbon (3). United Corp .. United Drug » Unit Dyewd pf [ Tnit Electric Coal _ Unit Eng & Fy (le) Upited Fruit «4) United Gas imp (1) : Unit Mer & Mfg .50e « U S Distributing pt U S & For'n Secur U 8 & For Sec pf(6) SGvnsum @) Hoflman Indus Alcohol.. ther Leather (A) . Leather pr pf _ Pipe & Fdry (2) Realty & lm(r) Rubber Rub 1st pf (Ze)_ Sm & R of 3.50. 5312 U'S Steel (10) - U S Steel pf (7) s U S Tobacco pf 1.75 Unit Stkyds pt .70__ 26 12 1 4% 12% - 14 —l 12% Webster._. +1+ » ¥ £ I|++|I| =1 -1% 2 -1 - = "% =215 % e g E T ISP TR EIL R TS 1% = - % —21, =1% = Vadsco Sale: Vanadivm Van Raalte (1e) R+s Victor Chem (.30e)._ Va-Caro Chem _ 26! Va-Caro Chem pf _ Va Elec Pwr pf (6)_ Virginian Ry .625e_ Wabash (r) Wabash pt (A)(r Waldorf System 60. Walgreen (1.60) _ » Walgreen pt (4.50)_ Walker (H) (4) % Walker (H) ptf (1) Walworth Co Ward Baking (BL_ 3¢ Warner Bros Pict__ 2 Wayne Pump (le) . Wesson Oil & Snow.. Wesson O&S ptf (4)_ West PennE(A)(7) West Penn E pf (6) West Penn E pf (7) : W Va Pulp & P .15e. West'n Auto S (2)_ West'n Union Tel __ Westh'se A B 50e _ hse Elec 1 Weston El Inst Westvaco (1.40) Westvaco pf (1.50)_ Wheeling Steel Wheel Stl pr pf ( White Dental (. 50) 4+ White Motor White Rock ae. Sewing Mch_ x B rignts 4 Accumuiated 'digidends ouia T A ear 1 Payable in stock b ¥ Accumniated dividends vaid or declared this vear White S M pr pf (2) 1'; Willys-Overiand - 3 Willys-Overl'd pf. Wilson & Co Wilson&Co pt (3k)- Woodward Iron __ Woolworth (2.40) __ 174 Worthington Pump. Worth Pump pr pf._. 4313 Worth Pcv prof __ Wright Aero (2g) 5 Wrigley (3a)._. 21% Yale & Towne (. 60)- Yellow Truck . _. » Yellow Tr'k pt (7). 101 Young Spg & Wire » YgstwnSh & T 21ty Ygstwn Stl D .25e 1413 Zenith Radio (1e)__ : 2 Zonite Products .. 6 3 Approxlmau Sales ot Stocks on the N. Y. Stock Exchange. 00 AM.______. L s -3 =3 -1 e~ % -3 -1 -1 15t = 1y iy 180,000 . 420,000 12:00 Noon 2:00 P.M 310,000 650,000 Total Sales for the day, 810,000 lunu 0f trading 10 shares rIn vankruptey or receivershio or Bankruptey Aci. or securities assumed by s Rates of dividena in the foregoinz table are annual dis- bursements based on the last quarterly or semi-annual being £ feorsanised under declara- Unless otherwise noted special or extrs dividends are not s Alsg extra 'z Pata st sear Baltimore C. & P. Revenue Is $1,411,526 for March Special Dispatch to The Star. BALTIMORE, May 1.—Operating revenues for the Chesapeake & Po- tomac Telephone Co. of Baltimore City, serving Maryland, amounted to $1411,526 in March, an increase of $84,385 over March of last year. Operating expenses were $944.682, an increase of $68.879. Operating taxes for the month were $204,011, or about 15 per cent of the customers’ telephone bills. The taxes were $7,067 higher than in the previous March. Net operating income for the month was $262.833, ‘or $8,439 greater than in March, 1939. For the first three months of this year, as compared with the similar period of 1939, operating revenues were $4,200,371, an increase of $334,- 599. Operating expenses were $2,- 825,916, an. increase of $261,099. Op- erating taxes totaled $605,997, an in- crease of $34,930. Net operating in- come was $768.458, which wags an in- crease of $38,570. 48 - n Inryand wai served by 286,546 telephones on March 31 of this year, an increase of 19,118 over the num- ber in operation a year earlier. Users made more than 39,158,800 calls dur- ing the month, an increase of 124 per cent over March, 1939. Industrial }iachinery | Exports Rise Sharply By the Associated Press. March exports of industrial ma- chinery, totaling $37,559,841, are re- ported by the Commerce Depart- ment to have been 27 per cent largest for any month since De- cember, 1920. Principal gains over last year were in shipments of con- struction and cénveying machinery, metal-working machinery, textile, sewing and shoe mhfinery 200 Tons of Lead Sold NEW. YORK, May 1 (#) —S8t. Jos- eph Lead Co. reported 75 tons of Southeast Missouri pig-lead sold yes'erdly &t $495 per 100 pounds t. Louls, 50 tons at $5.15 New Yark lnd 5 tons at the New York average. 4 higher than & year ago and the| | | Winchester Bank Elects WINCHESTER, Va., May 1 (Spe- cia).—J. Fred Thwaite, Frederick County fruit grower and school board chairman, today was re- March elected president of the Union Bank of Winchester by stockholders at their 70th annual meeting. Direc- tors elected are Charles P. McVicar, John H. Rosenberger, Coleman Dunn, William A. Bailey, Julius W. Richard, Llewellyn Jackson, H. B. McCormac, jr.; Harry K. Benham and Wendell B. Goode. Jersey City Livestock JERSEY CITY, ay 1 (# (United States Deurunem ot Aumumru —Caitle, salable, 360: total. 580. Steers fairly, sc- tive. fully steady: one ‘s.nn 11 lot ®ood 1 ye o Jer: dium. 1. IW- 220 M l'l 15- 55" Cows ‘a0 buls active. ully steady: Spots stronger on cows: medium cows. 6.25- 7.00; lecx 8.00: eu.ur m m'“- 5. m"'v" o ;‘1"\5‘.2&"'?" & u chbice.‘Canadiaok. 10.00:12 ul New York market: LS I S ey 'w!hm lndc choice. 195 and lambs 510mlnrm u-lul- *| Mid-afternoon quotations % Carry Other Stocks - «|On Downgrade . Losses Are General And Trading Is Only 850,000 Shares Stock Averages Xna?m Rofis. Oth. sris, Net change —8 —3 —2 18.5 ‘Today, close '112 Prev. day _ 720 188 Month ago. 726 19.4 Year ago._. 646 178 1940 high.. 742 205 1940 low.__ 699 18.0 - 1939 high__ 77.0 238 539 1939 low... 588 15.7 416 60-Stock Range Since 1927: - 2-38. 192729, l“sgs ”3728 1571 337 169 6138 (Compiled by the Associated Press.) By VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, May 1.—Steels, air- crafts, motors and other shares associated with the sinews of war drifted lower today, carrying the |swhole stock market fractionally | downhill. | Traders were motivated in their '« | pessimistic outlook by indication | that the campaign for the control of Norway was turning against the Losses were general throughout the lists toward the close, and the timidity of operators was shown | by the small total of transactions, about 850.000 shares. Chief of the issues on the down= « | side were U. S. Steel, Bethlehem, .Chnsler Montgomery Ward, Case, vaterplllar Douglas, United Air- i craft, Martin, American Airlines, American Smelting. International | Nickel, General Electric. Du Pont, | Union Carbide, Johns Manville, Loft | and Western Auto Supply. The last | named slipped 6 points at one time to reach a new low of the year. .‘ s Chlcago Gram | By the Associated Press. CHICAGO. May 1—Wheat prices tumbled as much as 3 cents a bushel | today to the lowest levels since be- | fore the invasion of Scandinavia, but | then recovered some of the loss. | Selling in connection with cone- | tinued heavy marketing of grain ., (and Rome reports indicating there a, | Will be no sudden change in Italy’s 1, | non-belligerent position uncovered | stop loss liquidation that gained 1 headway as prices declined. Liqui- i | dation of May contracts. on which | first deliveries were made today, also was a market factor. while the trade had several reports of im=- ' proved and favorable crop condi- | tions. | Wheat closed 17:-2° | vesterday, May. | 81.04':-,: corn. | 64: July, 6475-12; oats, 75-%s lower. v los 1ay TEATT 98T GRS 0% 1 aaThnbte P"onty" Yoz, 1o Toy 10615 107 10415 1041500 a4 Aa3ats R3-A51a lower than 5g-7. down; May, A40n f47a £5%4 > 1000, 1 1081 Corn. No. A1 No. | “ Onts. | mixed erain. 5 41-411. | No.4. a8 _ Barley malting. 53-68 nominai. feed. 40-53 nominai: No. ‘i malting. 6. | Sov beans. No. 3 vellow. 1 0815 Winnipex Prices. NINNIPEG. May L #.—Grain Hish. Low N9 n ranze Close. ‘ i 2 {New York Cotton By the Associated Press. NEW YORK. May 1.—An unfa- vorable weekly Government weather and crop report exerted little in- fluence marketwise in cotton fu- | tures trading today. Predominating was fairly heavy Bombay and do- | mestic hedge selling. Prices moved over narrow limits with operations ‘onl,v spasmodically active. were May (old) 1052; December unchanged to 1 lower: 10.80; July «(old) 10.03. Futures closed 1 higher to 2 lower, Oid contract: Dntll. High Low. May _ 10. 1081 1059 July 10. 1054 1051 Ne' K:Dlllracl 1093 1003 10758 1018 10.05 a.9% 10,93 1068 10,16 1003 g8 9 .90 Middiipe: spot (atineh). 16 96n, off 3. n Nomin: Cottonseed Oil. Bleachable _cottonseed oil futures closed 5 higher to 5 lower. Sales. %7 contracts May, 6.80b: July. H.N0: September. 6.88 October. 6.88b: ~November. 6.90: ber, 6.90b. b Bid NI [l ) —Forels and - domestic political uncertainty cone tinued to restrict trading in cotton fu- tures today. Closing prices were steady. 3 roints net higher 1o 1 point i High. - K10 1 u:l 1063 1 1021 10.10 41) " 983 n Nominai Bleach- 25b: prime b: Ji A1b; K Decem- v Cottonseed oll closed “"g' 5. S bieimber, 6 3hb: October. i b Bid. ber, 6.44b. Dividend and Interest Payments Decrease By the Associated Press. NEW YORK, May 1—Dividend and interest payments to individ- uals during the first quarter are es- timated by the Department of Com- merce at $2,032,000,000. This compares with a depression low of $1,961,000000 in the first quarter of 1933 and $2,941,-000,000 in the same period of 1939. ‘The relatively small nln in pay- sood | ments. since 1933 may be traced ¢|to the sharp decline in interest rates which resulted in the refund- ing of a large volume of bonds and % m.'_lmor'-lues by obligations bnml‘