Evening Star Newspaper, May 3, 1940, Page 21

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, FRIDAY MAY 3, 1940. FINANCIAL. Big Losses Recorded | BONDS ON N. Y. STOCK EXCHANGE |Security OHerings NEW YORK CURB MARKET |ExcessBank Reserves By orivate wire direct to The Star. High. Low. Close, Hhh Low. Clou‘ By -private wire direct to The Star. Stock and Sales— By Scandinavian, somvamate Tomactons ot | 582188008 - 8 SR | worm e, - 2 | Af Highest Levels o et e 2 o8 meren e Down $10,000,000 Domestio Bonds ... 5100000 |C&Ogen4%s93_.__ 125 125 Nor' 553047C . B2 Dividend Rate Add 00. High. Low. Close. . Foreizn Bond . 830,000 |Chi& Alton 3845 13% N o ate e TR . AeroBup B 208 16 6% 6% 6% | menceo bt (6)- 108 “77. ] . g . 14% - g TREASURY. Chi Burl & Q 6871 o (oS S ke 1, 100 Al imvenars 8 i 13 MigSiTera e 4 o s g ¢ High. Low. Close. |C B&Q 11l Al 3%n 48 um Co Am (16) 500s 189% 186% 1 Declines Range to More | 2us 195158 1044 1044 1064 | CB&Q TNl dv 334s40rg Ohto Eison ¢» €8 .. 1074 $114,449,664 Vol Alum Copf (6) . 200s 114% 114 Midwest oo 3 8° 2| Tempora Setback Than 5: Canadi 2331349 63 10613 10610 106.10 | € B&W L1l aiv 4a ¢v S e n A s IaleDos (aidd olume Alum Ltd (3e)_. 9 Minn M & S 606 200s 69% o povY ; 23%s3 1945-47 _, 109.18 109.18 109.18 “hi & E (1] 68 61 et S m 4) - e 1" 1 onmaanagion 33195164 - 1081 1081 1081 | Chi& Erie = P L Includes Big Issue LobaEt Monaren b 58 1 39% a0 394 Reported by Federal 0 T g e ww (2.75h 31y ¢ ssues Down ::::3:: 59— 10712 lo7.12 io7.12 omos :._'.':,.'f.’u ’ DU Btea 4i0a 83 Of Union Pacific iy N 3;;: o :‘;::.,‘”c:::e”’ 1508 m“ 168" 163 Reserve Board 2% 1955 60____ 108.18 [08.8 108.8 PacG& E3%s 61 Am Export 2be . 18% 18% = ; 351946-48 IR e o A s B PacG & F: 4s 64 By the Assaciated Press. Am Fork&H .45e 14 :m"" Eroeifeo o o 6‘? By the Aséoclated Press. Bond Averages 38 195166 1112 1112 1112 | CM&StP 4148 89 E Pac T&T 3% 66C NEW YORK, May 3.—Public offer- | Am Gus & £l 1.60 36% 364 | Lot Aot eea T 10% 104 10}4] Lendable excess reserves of banks 31481041 104.11 104.11 10411 | Chi M1) & St P 68 76 aram't Plc 8% 8 47 89 9 ings of new securities during the | Am General 3% gy | DAL B "L“;; Lyl o ”:: declined $10,000,000 to $6,110,000,000 20 10 10 10 %8 194345 "0 109'19 109.19 109,19 | CM&StP ad) 68 2000 Penn Co 45 63 y Am Lt&Trac 1.20 154 ity % 174 1T%| i1 the week ended May 1. Rails. Indust Utll Fien. | | 3%s 1944-48 110.15 110,15 110,15 | Ch&NW gen 3%e 87 16 Penn Dixie C 65 41 A . 96y week ended -yesterday totaled $114,- | Am L & T pf 1.50 29 Nst Gont e % 13 13%| e Wederal Reserve Board said Net change +.2 +.1 unc. —3 3 § AL PernOADALE I = 449,664, the largest volume in nine| Am Maracaibo $ R o] BEECH sl Fea pe iR tetnoa Today, close 5851034 97.1 46.7 FEDERAL FARM MORTGAGE. ChENW ties 1037 Penn P&L §3x 69 < weeks, Poor's Publishing Co. re- | Am Pot&C 4.76g. 50s 1061 1061 ALEG e 2 2% . & LeIDEATy Prev. day . 5831033 971 469 | 351344 4 10811081 1081 | Chi&NW 4148 2037 C Penn P&L %8 74 . % 108% | ported today. Am Republics _ 95 10% 9% o e Blet ouig ton¢ | chenge; due soitiie usual frcreago.of Month ago. 5971027 972 534 Chi & NW cv 4% n 4y b Penn RK 814862 . ; ; The week's issues included the|AmSuperpower 2 & g | parfrans (886 3 4 11% | money in circulation for month- Year ago .. 55.1 985 94.0 595 HOME OWNERS' LOAN Chi&NW gen 68 87 Penn RR 3%s 70 2 9 ¢ | brsgest public rail financing in 13| AT Suberpwrpf 1 123k 125 127 | XA} BROR Hadio 1213 | end pay roll requirements. 1940 high _ 5991034 975 535 | | 33194452 10726 10726 107.26 | Chy RI&P rf 43 84 ct_ 2 Y :Enn ::: %S .: 99', 9944 years, an offering of $81.602,000 A“mchmribnml; 25 % ?.“ :;’/x “| NEP As 24 1.50k_ 255 % 2310 231 :I'ge _boar!dhs statement said: 1940 low __ 5661019 96.1 463 NEW YORK CITY BONDS Sl Rgenitse B e et as™ loww 1on 1034 | Union Pacific 315 per cent refunding | Appal & P pt (7). 105 11314 11315 11315 | New ldea (60) ~ 1 14 uring the week, ended May 1, 1939 high . 6491020 975 64.0 | | 351980 B wi BBl ARGl b e anE AT T Penn RR Ab 4% 8 70 897 89 bonds. ArkNatGas . 5 214 2w 21| NJZinc(le) B0s: 6616\ 6o hpie | fmember hank. reserve balances de- . . Lol Chi RI&P41;852A ofs 4 N Y Hon R .75 505 201 | creased $13,000,000. Reductions in 1939 . 534 95.8 417 [3s19801wi 95% 95% 95% | CniRI&P cv 4 %8 60 y BSoni Hesnev iy 9 'nlll? gemand for new money was| Atk NaidasiAl 4 2w 2% NY Merch (.60) 2 8% 8% 8% | member bank reserves arose from FOREIGN BONDS. g::zw.s“‘::‘?::zx_ A g 3 f‘sm‘pc-r ::fivfi :}!‘3:0\‘1;2?8 !oreox;;y Ark P& L pt (1). o4 9T :g gfithn: ‘erlni 20;1 1;% l;‘liy 1;}1’ increases of $50.000,000 in money Close 1131 Prev.day. 1129 High. Low. Close. | Chi & W Ind %s 63 Pere Mara 4 %5 80 . B I retese tod refundxiln] o Art Metal W .15e 1 5% 5 “| Niag Hudson Pw 13 5% 5% 5% in circulation, $20,000,000 in treas- i abitibl P&P bs 63 BbY T Pere Mara 68 66 _ g Ashland O&R .40 % 5% Niag Hud 15t (5 50 . 2 | ury deposits with Federal Reserve Mnthago 1130 Year ago. 1114 | | Agr Mtg Bk Col 65 48 1 Phelps Dodge 3 %n 62 ; existing obligations. . | Asso GRE (A)(r) B aa tat o) 503 B84 B84 8841 banks, and $20,000,000 in non-mem- Pt Cin Un Term 3%s 69 i Niles-Bem-P 60e 1 67 67 7 1940 high113.1 1940 low 1115 | | Antioquia 1st 7557 A o sy : o5 | Phila B&W 438171 C Comparisons follo Arecidamye ) e Nipissing Mo 1 1 1 |Der deposits and other Federal Re- 1939 high 1126 1939 low. 103.6 Antwerp £s 68 CCC&StL 5 1y | 'hila Co 6= 67 Muni, i A . R Stl. dv 4590 -0 b= - 5 unicips .. | Nor Am Lt & Pwr 5 1 1 | serve accounts, offset in part by a Argentine 45 72 Keb_. &4) %l Clev 1 111 8% 65 . 73| Phila RC&Tr6s 73 13w 13 Thlsweek Previousweek. Yearago | ATHRayon (10e). kS Nor Am L&P pf 758 o6 o4 | decrease of $12000000 In treasury (Complled by the Associated Press.) RPN " | Clav Un ler 41,8 17_. Phila RC& ir 6849 . an | S0 TR sl G Atlas Drop ¥ 206 N'ARayonA.50e 2 24% 24% 24%| cash and increases of $63,000,000 in rRentine 4%s 48 __. 95 Cler e Do b 18 v 7Tov, | Phillins Petrol 3s 48 9% Public Utilities. AtIAPlon 8150 ‘ NARayon B.S0e 1 24% 24% 24%|gold stock and $3,000,000 in treas- Argentine 41 71 e . PCC&SIL 41871 o0 4 : . By the Associated Press. Australta 4% 66 R L Pitts C&Ir 4148 62 ) ! Rl 193000 Austin Sily M (r) P NIPS 650 nl ) 20k 405 1obe 1004 108r, | UTY_currency. Excess reserves of NEW YORK, May 3.—Italian,| Australia6s65 6 3 ColG & Ebs6l . 5 Pitts&W Va 4 %869 B e 0 ailroads. A::::T:: :r?dso)_ Y Y North'n P L 40e 27 8% 8% ;“: member banks on May 1 were esti- Scandinavian and other foreign| ausiriane et : +} Comw 2 3 14s 68 RILEWiVa s ss/s0.C 2 5 2 NorthmSta P(A) 1 1% 13 13 mated to. be approximately $6.110,- Austria 7s 57 _, o Fd3is 6 el Port Gien El 4% 5 60 E g ; In L Avery & Sons _ 6 L bonds were shaken into sharp de-| geje S g Porto Rico A T 6a 42 W 803 3,000.000 1.078.900 | Avery (B F) wa Ohio Brass B 60e 28% 220 | SAKN, & decroase of 10,000,000 for D Belzlum 65 65 Conn R Pw 3% 61 o : o B ol Porto R A T 6s 42 st : | Aviation & Trans Ohio Kdis pt (6) s 10814 mw | the week.” clines today by the allied defeat in/ ?%ilg:::g:fi,’;‘(S 8 ) ::g:: Fo:x‘[:der: gs"a!o“ b T DA Clectr. o1 Xed VI!(;:I.ITII:’Q“::\,. 550,000 | Babcock & W.206 914 5 29 | Q1o Uil bt (6) 505 106! 106 10». | Changes in member bank re- Norway and fears the war would Eelelum 10 991 9 9 bl ”'.; ) : . Pub Sve E&G 5s 2037 > h208 0 Baldwin Lo war ?:x;u I\\(\r pf (6) u.,f. 1 | serve balances and related items spread to the Mediterranean. i % Consot 011 3% 61 Pub Sve E&G 8s 2027 22 51 225% A ool Baldw L pf 210 55 6 28% | Qs ”'.‘:,Y"ff 50 5“* 115 114'2 | during the week and the year ended Losses in late dealings ranged| razil 61as 1997 67 Consum Pwr 3% 66 g | PubSve N [113%s 63 110 < : 842518 | Bérium Stain &t 2 3 | G i e § 7| Mav 1, 1940, were reported as fol- to more than 5 points. Conspicuous | Brazii C Ry El 78 62 Consum Pw 1st 3% €9 109% 108 Reading Jer C4s51._ 5 57 | o o . sl oo O o st = | lows: losers included Hungary 41s, Nor-| Braz!l 8s41 S Crown € & S 4igs 48 Reading R 4%8 47 A 701, | $114.449.664 8509 $45.608.668 ":elcn';"lr;"m o L as 5t ane | Mby Al My 8 25, - . Ll e c 4 % D! 95, 29 way 41,5, Brisbane s, Iialy Ts,| Breda Ernesto7s 54 . Sueaiaxtbecs ; foxding 8 d4n sl B. 10w Bellanca Aircraft 6. 6| Pactiaseu 1160 6 s a2y | 1040, 1046 1030, Milan 6155 and R s, Brishane bs 57 5 uba %546 A 3 Rem R'd 4%.5 66 ww_ 101 . N i i & i (In millions of dollars.) s and Rome 6155, i 5 Bell Afreraft. %, 27 | Pac Ltg pf (5) .. 50s1 A Bills dis a £ S It 11, | Brisbane 6s 58 5 SRS g =1, | Republic Stl 4348 56_ g 98 Cago Lrain C et s discounte S o Canadian issues skidded With| gucnoq atres %877 59 | pend ng Z" e e B Republic Stl 4 %s 61 9% guu (EW) _ 3 9Y .Jc P& Lpf (7). 40s 86 6 | Bullg, bousht S ai | r obligati ritish Empire s 5 on) g ) T 106% 10 g lue Ridge _ “antepec Ol 46 5, ovt. Securities, other obligations of British Empi Buen Afr 4%s Apr 76 5 Den & R G 4345 36 Republic St} 5348 64_ 106% | By the Associated Press. Bohack(H C)1st. 10s 9 Parkersbg R&R 13 Qfl P dir;r' and guaran- Sk fed el RN e 924 92u| Den & KG W 6as8 ; 5| [EaTsE Copiist e ey ¢ Jozi 02| CHICAGO, May 3—Wheat prices | Borne Scrymser. 803 43% 434 PenderGrA 350 20s 48% 48" 48% |Infusirial advances O o Ttallan loans previously had ral- Canada “:;: 45 2! L Sl ‘: b | R1o G W 185t 48 39 i 301 | 5 9! up 2 cents a bushel from early | Bowman-Bilt . 4 lpeuum_mri (2)-100s 364 360 6 Lot mccl&xr::&;&r i ) [oRh he NIt Cananaits Det Edison 4348 61 % | Roch G&F 33 x 69 110 | 1oWs today as buying expanded due | Bowman-Biit1st 508 e 16 2 V) i‘::e?lr)n h‘(:%f 121 cl?: 11:\91 L‘Eii Mau; 16::::: g: e:d 4 D“T";:‘r‘lmb‘fi:" 5 Rutland RR 4%s 41.. 6 6 to the critical European situation, ::::wvg;;rrl;:r' 4 g g G :::neggl':flé?" 11 20 92 : er reserve bank ) 1 averted. N y " i 2 B Y 7y i - b A 2e) _ 5 i 4 traders, brokers said, assumed Ger- | Canada 4s 60 s DRl noonaT. R R RRC A Y - 60% i;rl;ngth in securities and inflation | prewsier Aero ESHn Y & biee) 4 & | Tocreant i many might soon be freed from the | (anada os 62 Y Duquesne Lt 3% 65. % | St L PubSer5s 59__. 644 3 . : Bridgp t Machine Pepperell (3e) _ 25s k| G e nyn t 2 Chile 6s 61 Jan assd Eisa Abionit kaica o St L-San Fr4s 60 A__ 7 125 | Early fractional losses followed | Brill (A) > Phila Elec pf (5) s 4 Treasury currency_ northern campaign to turn her at-| Cp,je 6s 61 Feb assd s BifeIatia98 2 St L-San Fr4%s78 . 1 117 | release of private estimates indi-|Brit-Am Oilctfs. 1 14% 147 Phillips Packing 6 6, | member bank - reserve tention toward the Balkans and that | Chile 6 62 assd StL-SF 43%s 78 ctat % | cating winter wheat prospects have | Brown Co pf (r) 15 5" g2 | Phoemix Secur 5 Money i1 € ‘reulation orway 4s broke more than 3,[Chile7s Frte ref bs 75 5 : st 4s 2 6 518 uckeye (2e 0V (.25e i s B falling below 27, as Germany tight- | Chile 7s 42 assd ) 4% | Erte & Jersey 65 55 2 gyl St T EouthiWaler E3iin o4 S 916 ‘em‘fda;, C]°f\i‘:yl i 11‘ ‘f““he’ y“l‘l‘)“ B N&KP pf 1.60 2011 Elokeer Colaiens % 1% 18 unz-.iehn‘ deposits ened her grip on the main popula- [ Shie M BE%sflesd 18 13 1B | cairnke Mors 5| 81 IE | UnlDa b i cuni 1's up, May, Callte diongstan 2 Picis Forg (.25e), 12 1 e tion and industrial centers of the | Ggpennagen 4 s 83 ; Fed Lt&Tr : 2 | San A&A Pass4s43 6 0BtH, %~ BD. | Carnestes e | Pitis& L E3 bog count Belgian and Danish 10ans | Copenhagen 68 62 _ Fet LI&T bs 4 A San Antonio P S 4s 63 High Carnegie Met Pitts Metal 25e g o rat b e Firestone T 83au 48 s | San Diezo CG&F: 4565 4 110y 1 i Carrier ¢ : g [Elem BLO T e) ! SZO 000 000 W 0 d Corporate bonds were uneven in| Cuba 43,871 6012 | Fla EC Rv 687, . 643 | Schulco 615 46 B stp i ‘,"? SR L0370 | CarterIW) 150 HEDEReliE el : ar Uraers et e tine i e alls edgedi|lcubaBias 2 | Francisco Sug 6s 56 Seabd A L 4550 stp . 4 5 05200 Catlin (Am) 3 3 SOl st s 5 . . L ahead, including Union Pacific 3155, | Denmark 44ss 62 2 2 p Sen E‘“"" Diseiy o5 I & 5 g:::dn':\lir;n::fiioos' . AT ; Y ; Celan pte pf (7a) }75s 126% & oo S:.f‘ I;"‘",,‘,n;," 061 10 10: Placed n Mlchlgan Torthar N 21 | Gen Mot Acc 8 . 103 & S 45. 5 I . . . ent N s 2/ < 7 Northern Pacifis 4s and Great e A ) BeabalA P65 a5 At S e it 3% e NLtmote 241 pS Ok pr in pf(7) 1 Northern 4s. But most corporate | Denmark 6s 3 i = n pf (T) B B h S tontaiEn B the Associated Press : 5 2 Ga Caro & Nor 6s34_. 201s 201y Shell Un Ol 214854 ¢ : 2 Cent St El cv pt : ; 2 i loans yielded for fractional losses. ! L’;:’"‘L”n":,;' ",‘*::l_ ) ¢ | Gooanicomnss & Simmons Co 48 52 __ 102'5 10 214 | YAy FLYORE + | Centst Eexoe 3 Puger £d P $6 ot Gle 26 DETROIT, May 3—The Michi- United States Treasury obligations | _ B = Grt Nor Ry 3%=67__ 7 s, | Socony Vec 364 ___ 6! 1061 | S 33 g 5 Chesebro (4a) - Pug §'d Pulp 60e 3 26 gan Manufacturer and Financial showed only minor changes, up and | Ger Gen Elec 65 48 Grt Nor Ry 45 46 G 105 So Bell T& T 3s 79 515 10518 N Cities Service 3 5 Quaker Oats (5) 30s 118 X118 S i : i 3 L 4 d 4 =, 1.0 . o . Record in its current issue says down. 4 R Grt Nor Ry 4s 46 H _ \;, | Southn Cal G 4%s 61 %, 1074 | Y a 3 Cittes Service pf 5 62 621, | Quaker Oats pt 6 205 153 53 | 7 | GriN Ry 18t 4% s 61 3 So Pac 3% s 46 51 53 | Oet 9 4 . City Auto Stpe.60 E Quebec Pwr (1) 100s 11° % 11% that war orders totaling more than g:rgapl\j:;‘s“::gso" a2 % gr::!'- . 6761?. = AT gz {;:z:g}:; gi.---- | i E:m;cznu.m < 5 | Raym d Concrete 100s 10 % 10% | $20,000000 have been placed with Investors Are Reassured | GreekGésesotval 1 3" | Grt Nor fiv S34a 520" : So Pac 4%s 88 " |y ] : GievTrnctor 0 1 6h 6h ol ltever Foser - 3 “ui “2 *2| Michigan firms since the first of Hamburg St 6s 46 __. 1 Gulf M&N 6s 60 2 2 5 :: g:: :‘a; :3- 3 RO 2 Colon Develop .. Bt | #epublic Aviatn 32 61 % 6% | the year. On Utilities Program { Hintary sha to ezt 23 2 Guif Sta Sti ias 81 572 | S bac Orer 4477 AT b : S| ol ali ey foch GREof D6 50310514 105 10374 | Half of the total, it says, has been ungary 4%s 79 ext. 23 ulf Sta Sti 438 61 35 | B i Coits Pat F A (2) ) Root Petroleum % 2% 5 1taly 7s 51 51 Gulf St Utll 3%s 69 So Pac 8 F' Ter ¢ Kt 7 o0 t 4 ColG & Epf (5) 2 6 Rustless I&S 15 3 I+ 131, | Placed by the United States War By the As ted Press. : lmlyCrd Lo :’74". HarRivaPiasi So l,;:v gen u 56 A_. Comwlith & S war Ryerson H ___ i 1% ? | Department, the remainder coming NEW YORK, May 3.—Leading| ., pycra7sbe.... 44% Houston U1 4 %8 64__ 4 : Fe T = g8 SliCom Baterol e St Kegis Paper : s po ag | Somscainay England, Nranse jand Government experts were quoted by | | 5 " Hudson (oal 6s 62 A 217 Boikts ger 63 o i = =G conn = 1&“1;”)' 8 o 2 St Regis Pap pt 4 79 mv \D(h?l' European countries. The or- the Savings Bank Journal today as< l“’ A sn/.:a: 2 43 Hudson C G 1st 5s 49 So Ry 6%8 66 ; ; Chicago Cash Market. é:""u; S ’;“m e 1| sait Dome Ol __ | ders cover trucks and trailers, shell seeing no real danger to investors in | 72020 8% = *| Hud & Man inc 5s 57 3 3% | S W Bel) Tel 35 68 - ]o“No“t'::‘l;’ wheat ssles, Corn, No. 1 yel- o et S8 | Scovill (.25e) \ forgings, cartridge cases, fuses, brass the Federal program on utilities. \ Medellin s',s:<54 10 Hud & Man ref 58 67 Stand Ofl N J 2% 8 53 33: No 2o n Y. m Consol M&S (1a) ‘ | Scullxlm Steel L v W rorgmgs for time fuses, shells, am- This opinion was expressed by | 3!an6%so2 111 Bell Te! %870 B " Stand Ofl N J 35 61__ u | P i3 nominal. feed. . | Cons Retail Str: g g | Scullin Steel war 7 : & | munition parts and machinery for it Yy ¥ beans. No. 3 vellow. 1 vm- . < 5 : Segal Lock | i i .. {the manufacturing of ammunition. Benjamin V. Cohen, general counsel | Norway 4s63 __._,. 26 2 E 11l Cent 8%s 52 Swift & Co3%s 50 105 Cons Steel Corp 5 5 Seiberling Rub of the National Power Policy Com- | Norway 4%s 65_ 111 Cent 45 2 i 45 Texas Corp3s 69 .. 10615 Winnipes Prices. Contl Roll & Stl % | Select Industries & “While the $10000,000 in contracts mission; Leland Olds, chairman ' of :0;“""’ ;:fluf'“ :::L_em 4s 53 . Texas Corp 3% s 61 . 1034 103 | MWINNIPEG, May 3. (P)—Grain range Cooper Bess 5 11 1% Sel Ind ai et 6.50 s, 581, |actually awarded to Michigan con- the Federal Power Commission, and | norway 88 (8 = > : a0 '(”_:“i ‘:‘f;-“ss Lol !%| Texas & Pac6s 77 B. 704 69 ta iy g"::" :;'"“T 5 5 " | Sentrv Saf Con . s, | cerns during the first three months others in a closed round-table dis- | = ICCAST NO 83 85 bt ;cxn-g Pac 58 79 C. 9 9 Hizh Low. JCose Cosash P:::‘:’;“ _ .. | Sher-Will 1.50e 9512 951, of 1940 comprises a wide variety of cussion recently sponsored by the | OFtental Devés 53 __ < T::r:A:’r::u' D S 4 s E L S | ComotaPit soa? 24 23% 2411 sh:‘;:)\nx‘n}?r& o Am- 11;’ 11:’7 11:‘1 pruduct< ' says the trade publica- publication. | Panama 5= 63 st asa 7 7 | Indusr Ravon 4 s 48 105 5 | Third Avad16s60 . 25 ¢ ¥ CLU | Crocker-Wheeler 2 5 5 H G&E pf T * 102 ) 103 ¢ | tion, “it does not take into account The discussion brought together | Panama 5%s 53. 0313 107 Inspir'n Cop 1st 4< 52 99% 9515 9814 | Tide Wat ON 3348 52 : e a3% 337 | Croft Brewing ’ SR . 1,/ the parts and sub-assemblies, pro- not only administration officials but | bers jat 83 60 4 InUKCL IStrt 08 66 9 Tol & Ohto C3%s 60_ 85 i e 1"“,43.,‘ e | Crown Drug 05e | So Penn 011 1.50 39 381, «- “ \ duced in Michigan plants, which also Senators Burton K. Wheeler | peru 208587 —- 3¢ ha 13 lhocndlstcrsantet i (s | unEMor3nsE2 T i e e R e e | SCEdptC1375 291 291, eventually become component parts and H. Styles Bridges and SUCh | prygcia 6%s 51 p 3 e g Uniton O11(Cal)3s 69_ 107 2% 1035, e e DA DUECO g 212 So'land Roy 0se T 7 |of products manufactured by con= s | % Int RT 78 32 ct 5% 5 3 Curtis Mfg .25g tand C & S .60, 100 10t tside the S hold: spokesmen for the utilities as Syd-| o o0 o | Ihtart Nos e 6.0 Un O!(Cal)6s 42 A__ 110% . e ta S .60e 1ot 101 | cerns outside the State, holding con= Olds asserted Government policy | Rhine W El P 6s 5 B < Un Pacific 3% 3 9714 2 3 L2 ! ! 2 s et € p ekl it dis int Hydro E) 65 44 __ 3 el o bl g 114 Bank Loans Decline Decea Rec .60 { Stand Ofl Oh pf 5 255 110v | s directed primarily to the estab- Rio Gr do S0l 6568 o g 7 :n: lr;ler Mar a: Sl Un Pac ref s 2008 i 1088 Dejay Stores 20e % tand Prod .50e 8 5 9% c b B nds ]‘Shmem_“f U e andards =0 the | pio Gr do Sul 78 67. 91 i P:g:: ::; e :z k 3% | Utd Cer W Strs 552 .| The Federal Reserve Board re-| DetGray Ir.04a 3 Sterling Brew 1, UF 0 field of costs, rates and use of elec- | gome 6155 52 T s RS AR United Drue 6s 63 4 87 i | ports that New York City banks| Romin Stl& Coal : 24} Stetnop (IE) . B A DOMESTIC High. Low. Close. tricity and is no! ected toward a yofCAbs72__. 4 9 Uss 2 { 3 Dubflier Con 13g K Stroock & Co S 9% 9% | Ala Power 1084 108 neral couragemer: R nUBIE] s Ne Erovits BEE SR Int T&T 416562 25 % 3 SSteel 3igs 48 i3 1034 | reduced their commercial, indus-| pule bower T5e > ol ShneAon sy 2 Ala Power 3s g‘:‘;f{fim;“w““ gement of public | '5a5 pauio C 610857 [ % | Int T&T b= 66 :’,::f;“&fz‘ E"ESI’ 0 : 92 |trial and agricultural 10oans by | puva) Texas Sul % Peciac > G ::‘nfa?n s Stz e aler saifl tihe (presentl| B RS drai B Rl o Kane C £1SEM (=36 Utility P & L 5%8 47 fl“’g’?‘mm‘“fl”‘fi g;;%‘;omed May Eagle Pitch Lead ; s| Tamia Elec 2 20 a7, 207 | Avpalach e s i s % Mrtas36et 25 35 +679,000.000. Sastn G, o1 23 echnicolor .. trmld in _fj‘oxylm is largely against :ao l:a:::: ;: ;: ;g 11: “ l:"f “| Kans City So 38 50 5 - Va Ry 1st 3%s 66 Chicago banks cut similar loans| Eastn Gas & Fuel Tex P&L pf (T) public ownership of utilities. -S:<!b!€'11 e 2 T | Kans City So rf 6s 50 2 Wabash 418 78 C_., $2,000,000 to $403,000,000. pr ot (1125k)) s 52% 53% | Texon UMl (.10e) 1 _ Cohen said: “The complete pub- SE’b xs P Rt Kan City Term 4s 60 7 7%, | Wabash 1st 68 89 Eastern States _ Thew Shovel 150s lic ownership of utilities certainly is il Be Koppers Co 48 51 _ 5 0 Wabash 6%s8 76 5 % | R - FEastn Stspf A _ 175s 27 Tilo Roof 3 not the ideal situation today.” He | I'okyoCityb%s61 . 60 59% aa 5 Wabash Det 5s 41._. 0 o Eastn Stspf B __ 75 2 | Todd Shipy'd 75e 50s asserted there was little justification | fokyo El Lt 6s 53 00 PR 0000y :::::2: :"“. xf,’:'a"usé Walwornieaiio B | Chlcago Stock Market leeiEan] & 50 B8 || Erens L L198) = S T = = | - R . ks = o L. | Warner Bros 6s 48 9 Q. 9 CHICAGO. May 3 (#).—Folls s Elec B & S pf (5) Cranswest Oil for fears on the part of investors in | Uru 3% 4-44sadi?d 52, 52 5214| Lake S& M S 3%s 97 ; R | complete It of ransactions on the CHL: | Eleo R & S pf (8) 61s 6913 | U holding companics or in operating | Uru4-4% 4% 78 Feb 53 53 :.eh Val € 5s T4 std West Panin B335 66 | cago Stock Exchanse todas: Emp G&F 6% pf = z t_g;“'flu' ("(‘:”f 18 i : juectemberz st f f Leh Val 5 J 4 ? 3 .| Emp Gy % 3 | Unexcelled Mtg utilities companies Wuertembers Ts 56 141 141 el V.N'zfll’s:!l?fi = W Sh 1st 4= 2261 reg 3 350 Abbott Lab ___ o] 7, | BEmp G&F 7% pf 255 67% 674 674 Unit Alrct P 100 10 DOMESTIC BONDS. L'V RR con 45 2003 9 10 Acme Steel K 3. B B ; West Va P&P 38 54 _ 3¢ Mxmcflzmm - Emp G&F 8% pf Unit Cgr Whelan s West Ad I8t 48 62 3 { . Emsco Derrick 3 3 Virginia Bankers Complete Auesgorsosss ™ sz “az sz |1y R 2cin e e Lo AR B et : P D B IG B | Alleg Corp 6s 49 . 734 3% 734 48 2003 a5/ West NY&P gn 45 43 ¢ 2059 Am Tel & Tel - Equity cv pt (3) 253 24% 245 24% | Lnit Gan ut 4.50K “ | Gities Sve Alleg Corp 6w 60 std 4414 Lex & East fis 65 5 E 300 Armour & Co. = DS CHESD S Sl Nhh\cn S P&L . eg Corp 65550 s Libbs MoN&L £ 65 West Pac 68 46 A as 150 Aro Equip 3 514 | Esquire (60) . Unit LI« Pwr (A) W 1 P&L onvention Progfam Allled Stores 434351 9 99 49 | Libby MeN&L 4s 65 03% 103% | west Uninn 438 60- s ) Aviavian Corp ke Sk LaE e . Comnty Pal Allis-Chaimers 48 52 108 4 103 %€ & Myers 68 51 West Union b8 b1 100 Avia & Trans = Cont G & E # o Loew's 3%s8 46 0 Belden Mfg. Fairchild £ & A 6 7 Unit Li& Pwr pf 35 Cudahy Pkg By the Associated Bress Am & For Pw b3 2030 654 514 West Union 68 60 30 Belden Mig. 1o Falstaff Brew .60 Unit Sh M 2 60a Dot In Lone Star G 335 63 o ; ; ROANOKE, Va,, May 3—Arrange- | A™ ) QCh Sxs s .- 1045 Long (s1d ref 45 49 . g o[ meel L e 300 Bore-warner SR ERmny e 100 s ¢ Lt 55 20 ments for addresses at a trust con- | xm T & T 31 s 66 .. 1095% 10915 1095 | Lorillard 7s 44 _ e ey 10 Brach & Sons 30°* 30 °| Fansteei Metal 5 | US Lines pt ; Fla' Pws cotnn 45 9 5 Whit, 5 S R 5 ference luncheon and amortization| am T & T 63%s 43 1078 107 | La & Ark 5s 69 W“s;nszwcglaei:tl’” 101% 50 Bruce (E. L.) _ 9 2 | Fedders Mfg .15e 7 s U S Radiator Florida P&L 3 2 102 100 Butler Bros. gy 6 Y | Gatineau P loan dinner today completed plans| Am Type Fdrscv50 105 105 | L& Nash 3% s 20037 3 3 | Wilson & Co 48 65 106% 2 14 [iidello/Brew IS b ec It Gary E&G a 5 Fire As Phila 2a Unit Stores | for the annua! convention of the| Am Wat Wks6s75 109 108% ":: f‘; }’v::’;,fl"':“ Wis Cent 1st gn 48 49 214 Ford Can (B)(1) 5 315 13% | Unit Wall Paper. L oL puy S Virginia Bankers’ Association at| Anaconda ab 43 50 102y | - N 58 2003 B Wis C S&D T 4s 36 8% 8y &S W $7 p 35% 551 | Ford 1.td « 16g) 5 3 Univ Corp vte 2 6 6 | g:n Ryn ;’k -n X L(d = Hotel Roanoke May 23-25. [Fagk s niBRT e 81 S e LaNPM4s4s L 104 2 | WisEl Pw3%s 68 __ 110 s SW 7 Bl Bt 31210135 | Eroedtert (80) _ ‘ | Utan tdaho Sux S ; Gag;flfim %, ¢ William C. Cleaver, vice presi-| AfmourtDel)istiscs 10 ¢ a1, | L&N So Mon 1t 45 52 3 774 | Youngst'n S&T 4848 1054 1041 105 Chi & N W » | Fruehaut Tra.25e 26% 26% Util P&L pf (r) s . | GF No Pw 55 50 stb T2 10734 107% A 1= | ArmourDel)4s 67 10315 E e 5 Corp : b Z1061 10614 dent and trust officer of First Na-| A 1&s e gen 4= 95 o 106 ’ Youngst'n S&T 4561 106 106% < = 33, | Gamewell pf (6) s | Venezuela Petrol 1l Pw & 7 721011 1011 tional Bank & Trust Co. New | a T&S Fe §isn 4% 10415 “‘“:’:‘_‘f"“%fi";; 50 : ities S 3 414 | Gen Fireprt 25 4 14 Vogt Mfg (.20e) 2 12 >}‘n ;\;\vr'\k 2°A_~C 10714 107 Haven, Conn., is to0 speak at the| A T&S Fe CA 415562 109 109% LR na tl S Osa s aa B0 ; P . . 32 dis B e e o Waco Alreraft 3 3 i 5 10 = . o s S s H B Waitt & Bond B lonchieoniiand wiillism et inealivice | {ATE B U Cay U BI008 1 DOV ATO0N: | vannivicaia suler iSianie S el roduction of sylflhe"c 20 Con Bisenit : 27 | Glen Alden 125 55 9% | Wetlmgton OIf | ; president of Wachovia Bank &| = * | Marion St Shov 6s 47 100 Cons Oil 2 Gorham Inc pf 258 v 78 | Ind P&L 1st 3%, Trust Co., Winston-Salem, N. C., will | At Cosst L ot 4n62 ¢ Sl v Market St ity 7a 40 s 174 Rubber IS P|anned 30 Gonsumers €2 B, 'ay sy i | Gray Mtz s s At ; g b oy R H speak at the dinner. Both events| v/ ¢ han2a4s48 . ° 31 Metrop Ed 4 1s 68 10 Consumers Co pf = 34 3 b G A&Pn v350e 225s112% 24| Wolverine Pt C _ i . Jest Side 4= 38 50 Grane. C 204 g ¢ are SChfd“k‘d for the first day of the | gt Guit & W 1 55 69 5 5 :}f:h“cz’:l?fl;‘szu o By the Associated Press. 80 Gunningham D 8 17 © Grt Nor Pap 60e 300s 49'c 49 49'%| Woodley Pet .40 5% convention. X 94 5 D; b Greentleld T&D 3 9% 914 sht Hi y Connecticut’s “prudent investor”| 5§ 0151 amet - 69 SoNli e HonsGrinss 83101 { S SERON; SO0, by =The ins 1o Beerene Co™” b Grocery Prod 2 2 wr::h;.l::-r:m‘:l - r":a 19, o po &Ocveisstd 2 Mil Spa & NW ¢s 47 .. dustry is prepared to start full-time [ 100 Dixie-Vortex - 13% | Guit Oilof Pac1) . 9 3914 38y cearganized under the BATKIIDLOY Ak oF statute will be discussed by Mr. O st 48s std G MStP&SSM cn 4s 38 i h z 4% 5 = 9 9 o B 5 roduction of synthetic 9 Y Gulf St Ut pf 6.50 10; securities assumed by such com: Cleaver, and Mr. Neal's subject will 095 A stamped . MStP&SSM 6s 38 gtd = ey e Tubber if the [ 50 Fits Simons’ & © FR ] ki 44 i Rates of dividends in the foregoing table b ity for I i . MoK & T 00 . present war cuts off the sppply of Gardner-Denver ;- Ham'ermill .25e 290s are annual disbursements based on the be “The Opportunity for Improving D@L statiped 0 IRL A0 =2y crude rubber to the United States, Gen Am Ti = 523, 50 | Hartford Rayon 4 iast ‘oustteriy or semi-annual deciara: Relations Through Amortization O 96 F stamped _ MoK & T 4%878 v N 5 Hearn Dept Strs 6 . tion Unless otherwise noted _spect Loan Service.” B&O 2000 D stpd 2 Mo K&T 65 62 A - says T. G. Graham, vice pfesident e 97 45% 49| earn DSpE 1,50k 1008 iy aiidenas” sgloon Inclaoed e i N D . . 00C k| 5‘ 0 ‘Mot 53 v » extra or extras ccumula 1vi¢ Other convention speakers include | BEOPLI&W Vadssist ~HESEL e g feh o e 334 | Hecla Min 108 16 fast vear ‘e Declared o ‘oaid " in w ; A pa Henry G. Ellis, Petersburg school| gy o 1ojedo 4559 53 b | Mo Packs 1T R __ 1ow 18 We and othiers who have studied | 100 Goodyear T & R- 2074 204 2014 | Hewitt Rub.ge. _ 1 2 | i e cash or toer & Ackumic superintendent; Frank M. Totton,| gang&arcoscn 4s61 65 5 | Mo Pacbs 77 Fet._. 18 y the problem believe that on a large-| 150 Helieman (G) Brw 9% 9% o1, | Heyden Chem 2a 50s | [y Tear, b calylon frock & Soeumu: second vice president of Chase Na-| Bang & Ar cv 4s 51 st Mo Pac 63 78 G C; q 9 scale production synthetic rubber Mot 10% 1 i g‘l:m'hltR()H .1155. ’g %&'}.‘35’ ',l,,r,r,mu ':‘th:r::l:au et tional Bank of New York: Thomas | Bell T of Pa bs 43 B Mo Fac 6s 80 H = can be produced 1n this country at G % H’:"d.n;:“ .. s 7 y B. McAdams, president of Union | Bell Tel(Pa)bs 60 C 3 E Mo Pac 6881 | i 9 a cost lml_e above v.he; present price = s B Ly, = : o e Trust Co. Beltimore, Md.; P. D.|Beth Steel 3ka by b Mob & Ohto 434877~ 31y of plantation rubber,” Graham de- R llimots-1a Power : Increase Is Revealed Houston, Nashville, Tenn., first vice| Beth Steel s %s 62 Y 4| Mob & O Mont fir 77 clared in an address before Akron Le c £ -1a Power p: S = SV VICe| pong Mo amnar 13 53 31 *5 Mob& Ohio 5s 47 ct__. 2 - industrial tr: 3 2 LGS {li-1a Pwr div et 8 Pac P & L 5s 55 president of American Bankers' As- | pocic e q RS Celet f : MerboriRRiceies ndustrial traffic engineers. 100 Lincoln Print 23 flinois Zine 6 In Collateral Loans n CLER 4l 17 sociation; James A. Sweeney, B M ENs bR 5 Aont Pwr 3% s 66 2 3 He said his company and others| ,1f Linteln Printef - 23% 23 Imp Oil Ltd 50a_ 915 By the Associated Press. tary of Paterson (N. J.) Savings In-| Boston & Me 5s 55 st B i | Morris& Es 315 2000 214 | are producing synthetic rubber on a 1;3 Lousen Puck -__- ow 15 | e e d0 1 ~ 9% NEW YORK, May 3.—Collateral | B¢h: stitution, and Representative Karl| i - & me .’ 531 5314 | Morris & s 4% 65 3 E small scale” now and have not in- el AL 3 3in l:d:!"’m“"fl s -111% 1115 ‘“f‘ loans of New York Stock Exchange | Penn E. Mundt of South Dakota. Boston & Me bs 67 st 5 Morris & Es 68 65 creased production because it might sxsn Merch & Mrs of 4 g t 141 14v, | member brokers at the end of April | 52% S e S BKivn C RR 5341 ¢fs 78 Nassau E14s61ctfs 543 54w 54w | depress crude rubber prices to a g ; e T 14| totaled $579486810, a rise of $9.- | bhia S 3he - : Gilvn A cn3us 65 Nitkome i o ey oon Ton point where the synthetic product| 1100 Midiing UBt bt 4} [nt Indust (10g) 5 21 2y | 673440 over the $569,813,430 a month | prit® 102 T, &5 %%, Approved as Director yn Man Nat bairy 3% s 61 ww o would be much more costly in com- | 50 Midl Uth 7o ol- 5la Int Pa&Pwr war 8| earlier, the exchange reported yes- ¢ BkIvn Man 4 %= 66 et 9 Nat Rree) 3s 65 n =2 35 & arison. 100 Midl Util 77, of Int Petrol 1.60a 15% ByjtheASIOAM ST ERar Bklyn Q C&S cn Fs 41 Natl Supply 3%s 54 A P 190 Mifler & Hare ot Int Products B terdays The Interstate Commerce Com-| Bkiyn Un El 6s 60 New Jer-P&L 414s 60 Mr. Graham expressed doubt the| 200 Modine BT Int Safety Raz B 4 s Face amount of Government se- mission today authorized Frank J.| BKIvD UnGasbfag0 08 @ New Orl P S 6366 B Malayan supply, America’s principal | 190 Monte War, n i % 7| curities pledged as collateral for Gavin, president of the Great| Buft Niag El3ts67. 109 New Orl Ter 1st 48 53 y source f crude rubber, would be cut | 150 Ner Steny sm A3 bat Oullicies (B y " | borrowings, included in the total Northern Railway, to serve as a di- | Bush Term cn bs New OTIT&M 438 66 off by the war, but added “in these | 30 Noblitt-Sparks - Int Utl] pr pf 3.50 3014 | April 30, was $22544,675, against Tector of the Railway Expresg Calif Oreg Pwr 48 68 105 % | N ¥ Central 3%s62 . days no one can be certain.” Int Vitamm (.30) 3% 3% | $24,726,000 at the end of March. Agency, Inc. Canada South 6862 . 7 9 N Y Central 3%s 97 The Goodrich vice president pro- Iron Fire vte 1.20 16% 16% | The latest brokers’ loans aggre- Canadian NK ¢ N Y Cent 8%s 97 reg.. posed redevelopment of crude rub- Irving AirCh (1) 1 13% 13% 13%| gate was more than double the Jacobs Co = 2% 24 2% | $241,509,043 low point since 1929 Y Central as 42 . | ber supplies in Central and South New York Bank Stocks S hggehdd ot el g Jer CP&L pf (8). 10 100% 100% 1008 Oan NR %5 88 Ter CP&L of (1) 50 L0814 1081 1081 | feooncd August 1, 1932, but rela- b4 Y Cent 6348 2013 A Ameflfl. g\:; said this could not be tivel o NEW YORK. May 3 (P —National As-| Can NK 68 69 July. Y Cent rf 682013 __ done in e “to meet an emer- vely small compared with the rec- Soclatits Snine ey T Gan NRR 6369 Oot.. YCLSh3%nos - gency.” 30! Jotse b itad WU 3 2RTIBRING high of $8,549,38397 attained (Quotations as of 2 o'clock.) Can NR bs 70 YCLSh3%s98rg. 55 59 Sears Roeb 83% Rn 8 Koppers pf (8) 891 October 1, 1929 B ot Am N TS, (23 (240> | Biks .| Can Nor 6348 48 CmastLasee Divide atfoAnnil 30 80 Bend L 81 2ih Za7, | LakeShore M.S0s 1 I7W 174 174 - Bank of Man® (Row) - Can Pac db 48 perp. hI&StL 4 %8s 5 100 . 1% ey Fdry & M_ 4 . B I 33 Gan pac ab 43 oo : s« | Dividends for Apri B ors it | Laneweils ) April Phone Increase ankers Tr (2) . _ Can Pac 415 60 ._. ¢ P =" b 5 ehigh Coa EERER pl ey Ahead of Year Ago zgfigu"x%:;mn.fin'rwl 8 Line Material.15e 50 Larger Than Year Ago By the Associated Press. Witk fhtC b 4 0 7 Toofenteat1a0 o0 By the Associated Press. NEW YORK, May 3.—DBividends -n, mose; 3 Y o8 % | Long Isl Ltgpt 258 NEW YORK, May 3—The Amer- 3 3 5 | declared in April totaled $190,123,760, Co - 14 Long Isi Lt pf B 50s ican Telephone & Telegraph Co. 5 215 | Cent of N J 45 87 Steam 3%s 63 compared with $163,266,568 in the Unit Al : 201 La Land&Ex 106 3 4 announced its principal telephone FEG Nt i) | 54| Cent ot NJ gen 68 87 W ret 6837 __ same month a year ago, a compila- i 59% 60l | Lynch Corp (2) 50s subsidiaries had a gain of about Guaraniy Tr (12 300 | Cent N J gn 6387 rg 1104 nou tion by the New York Times dis-| oo 0.0 Seel ot McWill msDredg 2 West News U 85 44 Irving Tr { ‘“U_E o 3% [ Cent N Y Pw *%s 68 107% z 5% bW closes Y k 37 237 217 | Majestic Raao 27 :?{g?o st:::loni Bigw%p;:l’ compared o AT i & L () . 41| Cent Pac 1strt 69% | Norf Southn . 6 T84 < 50 Wahl Co i Mass Util A 2 8 gain of 83 March and Manufacturers Tr pf (2) % The number of companies de- 23 ¥ % | 66,500 in April 193 nnden Con M 7s 51 _ Cent Pacfic b 47 | Norf & W 1st 43 96__. 126% 125% g 3 Master Elec 60e 100s 38 38 pril, 1939. Isarco Hyd El 7s 5 Cert'd deb 6% 48 814 81 [ North Am 3s 49___. 1064 106 claring dividends during the month | 35 etk Gn oT¢ A Mead John (38)... 1603 170 170 17 | Net gain for the first four months faniiag Guil 797 g,g e Cham P&F 4%5 85-50 106% 106% 106% | North Am 3%s 54___. 106% 106% lom 8150 increased, rising to 833, com- igley z: Memph NG.16 B4% 5% b%|was 344,800, against 281,700 in the ww—m‘z" "m}? Ches & Oh1o 838 63 F 105% 105% 105% NornPacgn3s304T. 42% 42 42 ' pared with 742 in April, 1939, e e = 7.000 aharer Merr-Chap & 5. 1 8% 3% 3% same period last year, T otaBLy Iouiey pavambed - J ghimii G081 55 0 B Bes o4 % 225 _olnmohaSiRER. BEHSFE S FEE R 3 399993 PEERED RN R S S I C&StL6%s 74 A Ghase Nat (140 " K | Can Pac §s 64 em Bk & Tr (1.80) f [ Cent of Ga 53 59 C Cnfnmortml Cent of Ga 5%s 59 Cent N Eng 4s 61 0B 2D BRSR3% 22352 ZZ2Z222222227 22227 2 e a9 g g v e v o D 585 53