Evening Star Newspaper, May 13, 1940, Page 19

Fiual.ClaL By North American Aviation, Inc. $520,659 Profit Compares With $1,355,962 for Same 1939 Quarter B the Associated Press. NEW YORK, May 13.—North American Aviation, Inc, reported net profit for the March quarter of $520,659, or 15 cents a share, com- pared with $1,355962, or 39 cents a share, in the like 1939 period. Cherry-Burrell. Cherry-Burrell Corporation of Delaware and its subsidiary, Cherry- Burrell Corp. of Canada, Ltd., re- ported for the six months ended April 30, 1940, the first six months of the fiscal year, net profit of $236,- 244, equal after dividend require- ments on the preferred stock to 45 cents ~ share on 444,745 shares of common stock. This compared with $250435, or 38 cents a share on 444,345 shares of common in the corresponding period & year ago. Greyhound Corp. ‘The Greyhound Corp. and subsid- faries reported for the three months ended March 31, 1940, net income of $249,770, equal after preferred divi- dend requirements to 8 cents a share on 2,693,409 shares of common stock outstanding. This compared with $168,784, or 5 cents a share on 2,687,- 923 common shares in the corre- sponding 1939 quarter. Investing Companies NEW YORK. May 13 (P.—National As- sociation Securities Dealers. Inc. (Closing quouuonivd Admin Fd and Inc._.___ 11.5¢ Aeronaut Sec Affliated P In SAmerex Hold Binkers Nat Tnv Corp A Basic Industry Gen Capital Cmn < Gen Investor: Group Sec Aericuitural Group Sec Automobile_ Group Sec Aviation __ Group Sec Building Sroup Beo Chemical Group = Group Sec Inves: Shrs Group Sec Merchandising roup Sec Mining ec Petroleum s Keystone Custodn Keystone Custodn B Keystone Custodn B eystone Custodn B eystone Custodn K eystone Custodn K eystons Cus 8 Keystone s Keystone Custodn 8 Stocks Blds Supply Stocks Chemical Stocks Eiec Equip ___ Stocks Insurance Stocks Machinery. Stocks Oils Quarterly Income Sh *Schoellkop{-Hut_& Pom Belected Am Sh Inc - Selected Income Sh Sovereign Invest Supervised Shrs STrustees Stand Inv_C sTrustee Stand Iny D Trusteed Am Bk Trustesd fhduriry Bors Wellington Fund 3 1 Quotations furnished by National Asso- on of Securities Dealers, Inc.. which es they do not necessarily reflect actual transactions or firm bids or offe: should indicate approximate prices. and unless otherwise indicated, are as quoted by the sponsors or issuers. *Not quoted by sponsors or issuers. Baltimore Stocks Special Dispatch to The Star. TmORE MI! 13.— 50 Eastn Sug pf v 50 Fidelity & Blenosit BD.'! U 8 Hdel NI 7000 Balto Tr deb 4s #7000 Balte Trans ot & Current Rates Consult With Us about a First Mortgage Loan if you want to buy or build a home —or refinance a maturing trust—in the District or in nearby Maryland or Virginia. Loans of any size—at Prev. 1940 High. Low. 5% 34 % 5% 88% 2% Stock end Dividend % Thermbid 26% Thermold pt (.75k). 2% Third Avenue ... 4 Thompson (JR) _. 27% Thomp Pro¥(.75e) .+ 1% Thompson-Starrett. 23 15 Thompson-Star pf.. 12 10 Tide Wat AsO .40e_ 27% 20% Timken-Det Ax (1) 52 46% Timken R Brg 1.25e >X 5% Transamerica (.60) 21% 12% Transcont' & W Atr 8% 7 Transue & Will.18e 2% 2% Tri-Continental . 5% 4% Truax Traer C.25e_ 13% 7% 20th Century Fox. 13% 9% Twin Coach ___ 1% % Ulen & Co (ry 46 34% Underw-EI-F(1 18% 11% Un Bag & Pap .15 88% 78% Unton Carb (1. llGV, 112% Union E1(Mo)pf(5). 17% 15 Union O1l(Cal).50e. 98 897 Union Pacific (6) . 89% 83 Union Pac pf (4) 29% 22% Un Tank Car (1.80) #53% 431 Unit Aircraft 1.50e. 23% 14% Unit Atr Lines 15% United Biscuit .50e_ 119 111% Unit Biscuit pf (7). 653 Unit Carbon (3) 19% Unit-Carr-Fast .30 2% United Corp 42 United Corp pt (3)_ % United Drug - 6 United Dyewood _ 65t Unit Dyewd pf (7). 5% Unit Electric Coal 35 Unit Eng & Fy (le) 857 United Fruit «4) 15 117% United Gas imp (1) 117% 112 Unit Gas Imp pf (5) 13% Unit Mer & Mfg .50e United Paperboard U 8 Distributing pf U 8 & For’n Secur U S & For Sec pf(6) S Freight ( 25e) Gypsum (2) _ Hoffman Hoflmnn »f 2.76 Indus Alcohol Leather Leather (A) _ Leather pr pf _ Pipe & Fdry (2) Play Cards (2a) Realty & Im(r) Rubber Rub 1st pf (8)_ ?m & Ref (2e). S Steel (le) @__ U S Steeipf (1) _ U S Tobacco (1.28). Unit Stkyds pt .70 _ Unit Stores (A) Univ-Cyclops S .20 Univ Pictur ist pf Vadsco Sales - Vanadium Van Raalte (le) __ Vick Chemical (2a). Victor Chem (.30e). Va-Caro Chem .. ?6" Va-Caro Chem pf. . 70- [ 10 51 11 cco=cdecaoeaadaac NnnnLRnLRREBN D THE EVENING STAR, WASHINGTON, Lower Net Reported INEW YORK STOCK EXCHANGESIeeIRaIeto (Continued From Plce A-18) . Low. - 5% 89 1 Wabash 8% ‘Waldort 20% Walgreen (1.60) m Walgreen pt (4.50). Prev. 1540 mm Dividend Ra Va tron muc L. Vulcan Detin ¢.60e.. PE (AN .. System Walker (H) (4).oo. BW'ofl.IOO 6% Ward Baking (A). 1 Ward Baking (B)._.. 18% Ward Baking pf___. 3 Warner Bros Pict l: Warner Bros Pic p?. % 21% Wayne Pump (le).. 3% Webster Eisenlohr.. Wesson Ot & Snow. 21 110% 105% West Pe naE(A)(7) 108 102 West Penn E pt (§) —1% 115 131 West Pe nn E pt (T) 26% 13% W Va Pulp & P .15e. =1% 5 28% 40% 32 West'n AutoS (3)_. 191 West'n Union Tel 28% 22% Westh'se A B 50e _ 118 105% Westhse Elec 1. 138 129 Westhse El pf(3. 56 -2y 16% ~ % 2 - % 34% -1y 5% ~- &% 3% - % 58 -2 3% — 4% T6% 37% 26 Weston 98 35% 25% Wheelin, 13% 11% - % T -2% - % + % -5 -14% = - % -2 ~1% -3% - & 24’ 19% White 8 93 25 85 Wrigley El Inst 38% 331 Westvaco (1.40) __. 39% 35% Westvaco pf (1.50 94% Wheel&L E pf §. 2 Steel 105 100 Wheel Steel pf (3k) 10% White Motor 4% White Roek 43 White Sewing Mc! 57% 38 White Sew M pf M pr pf (2) 2% Wilcox 011 & G 10e. 1% Willys-Overiand _. 3 Willys-Overl'd pf.. 4% Wilson & Co 51% Wilson&Co pf (3k). 22% Woodward Iron 37% Woolworth (2.40) .. 17% Worthington Pump. 43% Worth Pevprpf _. us 105 Wright Aero (3g).. 21% Yale & Towne (.60). 19% 16% Yeliow Truek 124 115% Yellow Tr'k pf (7). 4 48% 93% 28Y% 17% % 10% Young 8 37% Ygstwn 19% Ygstwn 2 86 Ygstn S&T pf 6.50__ 13% Zenith Radlo (1e) Zonite Products __. pg & Wire Sh&T 250 l!i 8tl D 250_. 38 17 Approximate Sales of Stocks on the N. Y. Stock Exchange. 11:00 A M. 1:00 P.M. 540,000 1,420,000 12:00 Noon 2: P.M Total Saies for the day 2,660,000 8 Unit of wading 10 enares T In bankrubtcy or recervership or being reorsanised under Icnnnuyu; IM Unltll 22 —ass | (Bt Chicago Livestock CHICAGO. May 13 (& (U. 8. ment of Agriculture).—Salable hogs. 11.- 000: total. 14.000: market opened 15-20 higher than Priday's average: later trade active. with bulk sales mostly 25 up: jdvance on hogs. 280 and i top. Depart- .10: good 50-pound sows. 5.00. Tew lightweights t0 B.B0 NG, above, Salable cattle. 12,000; salable calves, 1.000: active market on 'all grades year- lings “and common and medium grades light steers; latter going both on killer and stocker' account a strong to 25 higher prices. very little done on medium weight and weighty strictly good and choice steers: few early sales steady to strong: liberai waterfills _azainst buying_sid ds 9.50-10.25° and medium _heifers and all grades cows firm: cows very scarce: bulls, 10-15 higher: weighty sausage offerings up to .15 vf:lers etrone at 11.00-12.00¢ stock _cattle strong to 25 B75:9.%5 on earithgs and" HRhtwe Rt meaty ' feeder: S: (500; fed weak: v %w e T 00" and 10,65 bne dousie Randss weight clippers. better kinds heid 9.50. hisrer; small lots lightweight, clivped ewes around 4.00; heavies around 3.00, Visible Grain Supply NEW YORK, May 13 (#).—Visible supply of American grain showed the following changes from a week | ago (in bushels): Wheat decreased | 411,000, corn decreased 1,808,000, oats ooled gml{cnl and frvers. all sizes. u-cml- assumed oy '.'Alcllmnlllai 1];:!::16' ‘eompanies ‘nfl“ p L e @ :hn ...P,“"'Be'fi‘." "5“‘ © bl. Acoumniated 4 Washington Produce B prints, 31: brints, 30%: prints, score. tubs. -pound prints, 27 Tebound. printe, ,28: ss score. tubs. 1-pound prints, LI —c-lvu il 11_ Other livestock From _ Agricultural lnrkcun; Bervice. Prices paid net fob. Weshington: g u-rnl stronger on large and medlum rades: steady on others. Prices paid for erll-Sl-lu xraded exgs received from sradink stations u(-y 13): Whites: U. S. extras. large. 2. . “standards, rds. medi Browns: eX- rge. 2014 U. 8. txu’-l mediums. U.'S” standards. 18-20%: 14. nearby ded ¢ Tent Feceipts WhiLeR 1B mixed colors, 1515, few higher, LLIVE_ POULTRY, Colored Fowl: 2, 12 horns, 13 Hoosiers &1, “Chickens: ~Viremin ock Delaware Rocks S, o Leghorn brollers, 1 under 2 pounds. Homs. 10111 hens: 13; No. 25 hens and toms. 8-10. Foreign Markets LONDON. May 13 (.—A sharp rally in_British ‘government bonds encouraged support elsewhere in the security market today. Formation of a nationa! govern- ment was rated the chief impetus to buy- ing. " Domestic rails overcame _initial weakness and most industrial #leaders| dded = few pence. Tendersiip ‘ot "Royal Duten - Goid" an rubber issues held auietly firm. increased 262,000, rye increased 92,- 000, barley decreased 556,000. Poreign loans moved against the nnrrbnl trend. | uez canal dropped 5 poin AR Siored Tor Pentecost Roliday. United States Treasury Posit By the Assoclated Press ‘The position of the Treasury May 10, Receip! Expendjtures~ Net balance Working balance included Customs receipts for month Receipts (or 1 year (July 1) Expenditu; E_.:xcess of emendnure- ross deb! Sy Increase over previous da: Gold assets REFINANCING fifll and CONSTRUGTION ion compared with comparable d-teln year ago. ay 10, fl 18.905,600.480.14 18,885,697 ST W, nd Brices were ere aavanced 15 points m Tol following heavy sales Tolal purchases Phill was - | Somtract advanced 3 to 04: M; {18,880 : | July m C: | sales: 14,300 ton July g Qils rallied under . D New York Sngnr sl JORK. May t0- ippines raws by oberaters and refiners were estimated a3 high as 20.000 rices strong. General buying was induced by war news. Hedge lifting ssainst raw sales also a fulor ‘The domest 5 points. with JIIIY. The world' !Illllm held ‘elm of 2 to Bl points: Juiv, 161 5815 ed withdrawal 'en reported at the unchanged basis of 4.50 cents. Putures No. 3 closed 1-3 higher. Low. Last. 2 01 3 fl". 209 207 .07b futures” unchanged to 3 higher. ¢ s “Sales, Dry Goods Market ‘NEW YORK. May 13 (#.—Rayon hb' rics were in good demand today. verters purchased low and medlum meed spun Jon sheers and sharksk: Considerable interest signs of consumers response as the intro- duction of NyIon hoSiery at retall starts Wedneeday. Only i be_availabie in the metropolitan district. Buying in sllk fabrics was scattered. with dress manufacturers taking small amounts for their fall promotions. ly routine business was transacted in wooler goods, confined chiefly to nrice checking. ‘oolen piece goods business was fairly active gnd”mill schedules are picking up. 'mand centered in men's wear. Bees are thriving in hives atop ! office buildings in London. Virginia. BULLDING ON IMPROVED D. C. AND NEARBY MARYLAND P —8pot raw | Be D. C, MONDAY, Jump >, 4.2 Points More £ To 70 Per Cent Instlture Report Cites 45.4 Per Cent Pace Of Year Ago By the Associated Press. NEW YORK, May 13.—A sydden upsurge in the rate of steel making this week in the United States—to 70 per cent of the industry’s ca- pacity—was estimated today by the American Iron & Steel Institute. The production rate is 4.2 points higher than last week’s 65.8 per cent and compares with 609 per cent a month ago and 45.4 per cent a year ago. In reaching this week’s production, steel mills will closely approximate the output of the second week of last September, when the outbreak of the European war caused a jump of more than 11 points to 702 per cent of capacity. Throughout the remainder of 1939 and until the second week of Feb- ruary, operations remained above 70 per cent. They have been be- low that figure ever since, reaching their lowest point, 60 per cent, in the third week of April, Chicago Grain By the Associated Press. CHICAGO, May 13.—A wave of | Banters selling that broke out in the wheat pit during the final hour today pushed prices down to net losses of around 3 cents a bushel. Prices of other grains also were lower. The liquidation accompanied grain de pessimisth over war develop- mem.l and was induced partly by extreme weakness of securities prices. Talk of improving crop con- ditions and favorable weather, with showers ' forecast for the next 24 hours, also influenced the selling. Wheat closed 2%-3 cents lower than Saturday, May $1.05%-%, July $1.053%-5%; corn 115-1% dow-n May 6613, July 67'%4-%; oats %-1 cent FFE e 233 333 ; »2 L 223 5323 e Cash Market. sales. Corn. No. 11! Jallow. 80y sample ‘78 8. New York Bar Silver - NEW YORK, May 13 (P.—Bar| silver, 343, unchanged. REAL ESTATE LOANS 42% Fred T. Nesbit 1010 Vi Ave. b1 9392 real estate LOANS We have ample funds to advance on improved property in the District of Columbia and nearby Maryland and Interest rates are low; easy monthly payments. No commissions or renewal charges. NORTHERN LIBERTY ASSOCIATTON Established 49 Years S11 SEVENTH STREET N.W. NA. 8112 e Savingh and Loa: Under Supervision U. 8. Tressury ’g‘l Wationa’ permamnl' L OFFERS YOU THE BENEFIT OF Nearly 50 Years’ Experience in Home Loans Continuous Semice Since 1890 Our experience has given us a wide knowledge in the Columbi of sound real estate values various sections of the District. of - MAY _13, 1940. Underwriters Raise War Risk Rafes in Medilerranean Charges Also Boosted - In Shipments To and From Far East By the Associated Press. NEW YORK, May 13.—Mounting tension in the Mediterranean today led American marine insurance underwriters to boost war risk in- surance rates applying to that zone. For United State fiag vessels rates on shipments to and from the Med- iterranean, excepting the Black Sea, were raised to 215 per cent of cargo value from 1% per cent. For foreign flag ships the tariff was lifted to 5 per cent from 4 per cent. Rates for Black Sea shipments are quoted only on application. Rates were also raised on ship- ments to and from the Far East, including Australasia via the Suez Canal, to 3 per cent from 2 per cent for American flag and to 51% per cent from 4% per cent for all other flags. Underwriters announced a - cial classification for shipments to and from Holland and Belgium by belligerent or neutral vessels with a rate of 7 per cent, or nearly double the previous schedule, Money Market ORK. le 12_(™.—Call money Time commercial 'l'lme lum steady; IKO. ; 0 -8 months, 1" 2 Der unchlnled : 4 months, 1.-‘7 per =% Der cent. Redis- count rate. New York Ped: (e | eral Rescive Bank. E e 0 I T Money for Construction Loans and Loans on Completed Properties (Owner occupied or rental) Favorable Rate FIRS1 ORED OF TRUSY ONLY GEORGE 1. BORGER o g T Your Savmgs + Dividends = Security An investment of your sav- ings here provides safety, JLarnings and availability. NEW Y steady: 1 Daver. 1 per cen cen 550 Your savings insured up to $5000 by aw agency of the U. S. Govt. . FIKSTTRUST LOANS ", Made in Virginia, Mary- land and D. C. Low rates on long time payments. NQRTHWESTER" - SAVNGS & No. ‘1, Coleredo Bidg. NA. 7335 G uc at :un N.W. koma Pk. FINANCIAL. Sinclair Signs Contracts for 10 Tankers By the Associated Press. NEW YORK, May 13—Contracts aggregating about $25,000,000 for 10 new high speed tankers were award- ed today by Sinclair Refining Co., principal operating subsidiary of Consolidated Oil Corp. Bethlehem Steel Co., shi division, will build four 10,000-ton | and two 15000-ton vessels, while Pederal Shipbuilding & Drydock E:. '&m awarded four 15,000-ton H. F. Sinclair, chairman of Con- solidated Ofl, said the company has in mind not only its coastwise re- quirements but also provision for transporting Venemell.n, Mexican and other foreign oils. London Bar Silver May 17 ] il Ry lhe }cn-:"""-'y""" ! ‘r&rx: v:%.;"-d at 2 p hanged, t ”3‘0 5. un. REAL ESTATE Specialists For 52 YEARS £~ WEAVER BROS ¢ ’ WASHINGTON BUILDING DISTRICT 8300 FIRST TRUST MONEY ® Low Rates ® Prempt Service Monthly Payment Loans as lo' u $6.33 per $1000, per CONS'rlUCTION LOANS F. H. A. LOANS BOSS & PHELPS MS‘RBTGAGE CO. Correspondent 1230 BPRERR e U OPEN AN ACCOUNT Where Your Savings ARE INSURED 8ave at Interstate and enjoy the advan. tages of high eamning power and utmost safety for your invest- ment (every account up to $5,000 fully insured). Ask for the complete facta. INTERSTATE BUILDING ASSOCIATION Washingten Building 18th 8¢. & Now Yerk Ave. Proper Finaneing of Your Real Estate Is Important * Almost es importent as buying right ~——is borrowing correctly. Talk with Shennen & Luchs Cflnnny about your mortgege requirements. * One of our plans will suit your needs. Member of Washington Real Estate Board 1505 H St. N.W. Nat'l 2345 Realtors one of the most important things in your life ..... This highly personal act justifies your utmost consid- eration. Consult with your Attorney, to insure your Will being cast in the strict mold of the Law. Then entrust your Estate Administration to American Security—whose Half A Century’s experience as Executor and Trustee will bear rigid investigation. We invite yox and yoxr Attorney to discuss this matter with our Trust Officers at any time. = AMERICAN SECURITY & TRUST COMPANY wm.mmmm_rMnVWAm CENTRAL BRANCH: 7TH AND MASSACHUSETTS AVE., N. W. SOUTHWEST BRANCH: SEVENTH AND E STREETS, S. W. PROPERTY For buying, nbuuldmg or refinencing et prevailing rates of interest. Loans repayable monthly, No charge for appraisal if loan is not mode. Interest charged only en unpaid balance of principal. _Equitable eo-opmtin Building Association 915 F ST. N.W. ORGANIZID 1879 umbia and nearby Virginia—present conditions, as well as penqu—pchanqu which may materially affect property values in these “sections. Our officers will be pleased to discuss these matters with you. NATIONAL PERMANENT BUILDING ASSOCIATION UNDER SUPERVISION OF.UNITED STATES TREASURY 718 TENTH STREET, N. W. . MG Home Loan Bank System e United States Building and MEMBER: FEDERAL DEPOSIT Loan League o District of Columbia Building and Loan League . FEDERAL | prevailing interest rate —uwith your choice of these convenient plans: 3-Year Straight Loans INORTHEAST BRANCH: IIO.N\'M AND H mufs, N.E NORTHWEST BRANCH: 1140 FIFTEENTH ST, N. W, or Monthly Payment Loans Also F. B A Facllities You cen get prompt ac- tion on opproved appli- cations, B. F. SAUL CO. 925 15¢th St. Na. 2100 Mortgage Loa INSURANCSE ' CORPORATION RESERVE SYSTEM 4