Evening Star Newspaper, May 27, 1940, Page 20

A—-20 xx% FINANCIAL. Three Riggs National Employes Capture Essay Honors Winners Announced In Capital A. I. B. ‘ Chapter Contest By EDWARD C. STONE. 15% Thret Riggs National Bank em- « 7% Allen Indust (.25e). ployes carried off the honors in the ’i‘fi'; :,‘: ::fl 3‘;52“7‘;; (_s“)x 1940 essay contest conducted for 41 Allied Stores _____ members of Washington Chapter, 2{:: :gf‘f;’:{:{'}f:::s“f_ American Institute of Banking, and 891 Amerada (2) _____. sponsored by the District Bankers' fi:: ‘2‘;: e gge‘:e‘ -30e. Association, Ord Preston, associa- Am Bank Note tion president, announced today. Theodore P. Cogwill, auditing de- partment, won first honors, the re- TINANCIAL. YORK STOCK EXCHANGESIockAdvancesCul Drsrgr tate o i e R ] OI’ Wip ed Ollf in Light Selling Mead Corp pf (6) 114% 105 Sloss-Sheft pf (6) .. 830! 109 109 109 Early Gains Ranging Mengel Co 18% 10 Smith (AO) . ___ 2 1% Mengel Co 6% pf 11%4 5 Smith & Coro.50_.. 6% To More Than $2 Are Recorded THE EVENING STAR, WASHINGTON, D. C, MONDAY, MAY 27, 1940. TRANSACTIONS ON THE NEW By Private Wire Direet to The Star. Stock and Prev. 1040 Prev. 1040 ‘Dividend Rate. High Low. High. Low 85 64 0% 50 147 1o 46% 52% 9 . Low. Close, ehn & 4% = U 69 +11 20 -1 2% By — 1 23% + W 1% + % Stock and Bajes— Net. Dividend Rate. A4 00, Bigh. Low. Close. che, Abbott Lab (1.60a) 3 b2 504 62 +2 Abbott Lab pf 4.50_. 10s 1]5 115 +5 Abr & Strauss (2e). 20s 32W +1% 34'& Acme Steel (3) SGV. 4% Adams Express 4% 13 Addressograph 1.49 137% 86% Air Reduction (1a) 39 % Air Way Elec Appl- Alaska Juneau .60 % Alleghany Corp . 5% Allegh'y $30 pf ww. 4% Alleghany pf xw.___ 7 Alleghany prior pf_ Alleg-Ludlum .25e Md oo ;!ll’h !l'n 6% 2 26 11y 124 6% 1% 11% 40% 2315 122 103 54 33y 214 20% Cuneo Preas (1.50). 2 Curtis Publishing.__ 7% Curtiss-Wright _ 21% Curtiss-Wr (A) 1o 14% Cutler-Hamm'r .500 3% Davison Chemical... 13% Deere & Co 1 Miami Copper .20 24% 15'% Snider Pkg — 4 16% Mid Cont Pet (.40e) 12% 7' Socony-Vae 2 7 Midland Stl P(le).. & 2!3 113 8o Am Gold (.10e) M1d Sti 15t pt (8) 9 30% 16% So Porto Sug (1) __ Minn-Hon Ros (2a) 16% 10 S.B.Greyh'nd 1.50 Minn-Molire imp 30% 23% Southn Cal £4 1.50a Misston Corp (.85g) 15% 6% Southern Pacific Mo-Kan-Texas . ___. 20% 8 Southern Raflway. Mo-Kan-Tex pt ___ 347 13% Southern Rwy pf 121 Devoe & Ray A .25e Mo Pacific pt (r) 3% 1% Sparks Withington. 25% Diam'd Match 1.60. s Mohawk Carpet .50e 47 33 Sperry Corp (28) 4% Diam T Motor ___ Monsanto Ch (2) x ‘38% 19 Spicer Mfg (le) 1244 Distill-Seagr (2) Monsanto pf B 4.50 57% 46 Spicer Mfgz pf A (3) Dixte Vor(A)(2.60). Montg Ward 2.25e 11% 4% Splegel, Ino (.30e)_. Doehler Die C.250. Motor Products.50e 66l 46 Spiegel Ino gt 4.50 Dome Mines (2) Motor Wheel ¢1.60) 405 26% Square D Co (.30e).. % Douglas Alr (3g) ... Mueller Bross 7% 5 Stand Brands .20e Dow Chemical (3)_. Mullins Mfg (B)___ 2% 1 Stand Gas& Elec._. Dresser Mfg Mullins Mfz pt ___. 2 T% 2% Stand G&E $4 pf Dunhill Interns Murphy (GC) u)._ 18% 9% Stand G&E $6 pr pf. 120 114 Duplan Silk pf Murray Corp - 22% 12% Stand G&E $7 pr pt 189% 148% Du Pont (3.50e)___. Nash-Kelvinator 26% 17% Stand Ofl of Cal (1) 126 114 Du Pont pf (4.60) _ Natl Acme (.50g) 29 20% Stand Oil ind (1) _. 118% 112% Duquesne 1st pf(§). Natl Aviation 4612 30 Stand OIl N J (1a)_. 441, 26% Eastern Alr Lines.. 4« Natl Biscuit(.80e 34% 23 Starrett(LS) 1.25e_ 981 Detrott Edison ( HHlHEEEEE e+t Presseres 222 e S Stock Averages o 0O G T 00 1O D O 10 G0 e b a3t T 0O Induse. Ralls. 051 80 Netchange. +8 +4 +6 +.7 Today, close 55.0 139 319 388 Prev.day. .. 542 135 38.1 Month ago._ 719 1838 502 Yearago... 67.6 192 478 1940 high.. 742 205 52.2 1940 low... 535 13.1 311 171 138y 30 143, 10 5 4 Am Bank N pf (3)__ 100, 4 Am Bosch Am Brake Shoe .30e Am Can (4) ward being a trip to the Dismct‘ Bankers' convention at Hot Springs, June 6-9. His subject was “Ways in Which a Bank May Attain Greater Efficiency Through Im- proved or Simplified Methods.” Thomas E. Whinerey, credit de- partment, won second honors in the contest, writing on “Practical Prob- lems to Be Solved in Establishing a Small Loan Department.” Writing on the same subject, James F. Bridges of the auditing department captured third prize. The Essay Contest Committee of the Bankers' Association, which tnade the awards, consisted of W. T. Vandoren, chairman, vice president and cashier, Liberty National; W. R. Forster, vice president, Hamilton National; George M. Fisher, vice president and treasurer, Washing- ton Loan & Trust Co., and Irving Zirpel, secretary, Union Trust Co. ‘The judges had a very difficult task and made the awards by numbers, not knowing the names of any of the contestants. ! The Essay Committee of Wash- ington Chapter, which co-operated in the arrangements, included Joseph R. Fitzpatrick, chairman, dssistant _cashier, Second National; Robert H. Lacey, cashier, Columbia National; A Scott Offutt, vice presi- dent, City Bank; Richard A. Norris, vice president and branch manager, Lincoln National, and Frank M. Perley, trust investment officer, American Security & Trust Co. Twenty junior bankers entered the gontest, a record number. ° Industrial Bankers Meet. | More than 200 members of the American Industrial Bankers’ Asso- eiation opened the sixth annual in- stitute at the Wardman Park Hotel this forenoon at 9:30. The program called for an invo- eation by Dr. James Shera Mont- gomery, chaplin of the House of Representatives; address of wel- come by Commissioner Melvin C. gazen and response by Bennet aldy of Seattle. Malcolm L. Merriam, Department of Commerce, was to explain the department’s plans for making monthly reports on installment loan volumes. Robert R. Murray, Dan- ville, Va, chairman of the Sav- ings Insurance Committee, was on the program for his annual report and James E. Gheen, writer .and humorist of New York, was an- nounced as the luncheon speaker. Clifton M. Eisele of Washington §s chairman of the Arrangements Committee. The session ends Wed- nesday. Transit Heads Conservative. Declaration of a 25-cent dividend by the Capital Transit Co.‘directors turns attention to the conservative policy adopted, at least for the time being, in setting aside exactly the same amount for debt retirement that is paid to the stockholders. The company last December paid & dividend of 50c a share, amounting to $120,000, and at the same time set aside a reserve of $120,000 for retirement of funded debt. Net earnings from all sources amounted to $634.000 for the calendar year 1939. After providing for the 50c dividend and the $120,000 debt re- tirement, there was a balance left to be carried to surplus of $394,000. In announcing the 25c dividend to be paid July 1, which amounts to $60,000, it was stated that a like amount of $60,000 had been set aside for the retirement of funded debt. The company reported net earnings for the four months ending April 30 of $197,520. Bank Loans Steadily Reduced. ‘The company has spent more than $12,000,000 during the past six years for new streetcars, buses and other capital improvements. Of this amount, more than $10,000,000 al- ready has been paid for in cash and the balance is being paid out at the rate of approximately $500,000 per year through the curtailment of equipment loans in Washington banks. For the year 1939 the company reduced such equipment loans by $520,000 and in addition paid $245,000 as the initial 25 per cent payment on the equipment purchased during that year. For the current year such reduction of bank loans will amount |’ to more than $520.000, while equip- ment already ordered will call for $144.000 initial cash payment . While larger dividends would please the stockholders, the figures show that unusually strong founda- tions are being built into the capital structure. It is said that no other street railway in the country can show such a large proportion of capital additions to plant without proportionately increased indebted- ness. Home Mortgages lncreumx District of Columbia savings and loan associations which are members of the Federal Home Loan Bank of Winston-Salem accounted for home financing totaling $7,216,000 during the first four months of 1940, it was stated today by officials of the Federal Home Loan Bank Board here. This figure compares with $6,478,000 in the same period of 1939. All types of home-financing insti- tutions, including savings and loan associations, insurance companies, banks and trust companies, reported home mortgages in the District of Columbia amounting to $15,327,000 in the January-April period this year, as compared with $14,607,000 in the opening four months of last year, Heard in Financial District. The Washington Stock Market opened the week with a $7,500 trans- fer in Capital Traction 5s at 98 and 8 sale of 25 shares of Mergenthaler ainotype stock at 12. George O. Vass, vice president and cashier of the Riggs National Bank, was back at his desk today ‘after attending the annual convention of the New Jersey Bankers' Association at Atlantic City. Merle Thorpe, editor of Nation's Business, was one of the chief apeakers at the same convention. * [ | 17615 164% 33% 2315 1Y% 3% 2% 24y 28% T 501, 6% 66 3% 35 634 22% 63 14% 25 5% 6314 1035 17% 12% 113 3T3% 54 147 122y 333 238 18 175% 146 891 91y 5% 123 12 5214 8% 32 414 112% 110 15% 4% T3 641 UQ 26% 3% 11% 41y B 36% 106 100% 2% e 21 12% " 8 » 14% % 16'% 6% 91% 141 98 4% 40% 431 <Al 45% 20 351 112% 108 Collins & Atk pf (5) 26"1 264 T 10%' Am Can pf (7) - Am Car & Foundry . Am Chain &2C .80e Am Crystal S pf(6). 10, 4 Am Encaustic Til Am & Foreign Pwr _ Am&F P 6% pf.60k Am&F P 7% pf.70k 4 Am&FP2dpf Am-Hawai'n 88(1) 4 Am Hide & Leather. Am Home Pr 2.40__ Am Locomotive ___ Am Loco pf (1k) _. Am Mach & Fy .80 __ Am Metals (le) Am Power & Light_ 4 AP&L $6 pf 3.375k .. Am Radiator __. Am Rolling Mills Am Safety Raz 1.20 Am Seating (.50g) . Am Shipbuilding ~__ 300 Am Smelt & R (1e) . Am Smelt&R pf (7) Am Steel Fdry .50e . 301 191 . 2 —r SV 26 1 2 14 Am Sugar Refining. 6 11% Am Sumat Tob (1) Am Tel & Teleg (9). 2 69 Am Tobacco (5) . 70 Am Tobacco(B)(5) 25 Am Type Founders_ 5% Am Water Works__ 6 Am Woolen 2514 Am Woolen pf (3K)- 4% Am Zine & Lead _ 18 Anaconda (.75e) 20 Anaconda Wire & C Anchor H GI pf (5)_ Andes Copper .50e APW Paper_______ Armour (111) Armour (111 Armstrong Arnold Const .375 Artloom Corp oc Dry Goods oc Invest pf (5) Atch T & Santa Fe Atl Coast Line Atl Refining (1) _ Atlas Corp<.23e) - Austin Nichals Austin Nichols pf A Aviation Corp Baldwin Loco ctfs . Balto & Ohio (r) 4 Balto & Ohio pf (r)_ Banzor & Arssook: & Barher Asphalt . » =2 maer B R e oS E e 4 3 Rex(nwr‘roua) = Beat Cr pf xw (5) _ > Belding-Hem .40e _ Bendi iat'n(1e) Beneficial Loan.45e Beneficial Ln pf 2.50 215 Best & Co (1.60a) _ Beth Steel 2.25e Bigelow Sanf'd(1e Black & Decker .| Blaw Knox ___ Bliss & Laugh .25e_ Boeing Aeroplane _ Bon-Ami (A) (4a)_ Bon-Ami (B) 2.50a_ % Borden Co (.60e) __ Borg-Warner .50e _ Bower Roller B (3). 4 Brewing Corp (.60). Bridgeport Brass Briggs Mfg (.50e) _ e I Bklyn-Man pf ctfs . ¢ Bklyn & Queens Bklyn & Qu pf ctfs Brunsw Bucyru: 4 Bucyru Bucyrus- Budd Mfg pf__ Budd Wheel Bullard Co ( Bulova W Burlington & Burr's Add M .20e __ Bush Terminal 4 Bush T Bldes 4 Butler Bros (.15e) __ Butte Copper Rvers (Am) Co Byron Jackson (1)_ Calif Packing . Callahan Zine Calumet & Hec 50e. Campbell Wy Canada Dry Canadian Pacific Case (J1) Co + Caterpillar Trac(2) Celanese Corp .50a_ Celanese pr pf (7) Celotex Corp . _ IS Cent Aguirre 1.50 1's Central Foundry Central Violetta § 2215 Cerro de Pasco(2e). 1 31 Certain-teed _ _ 15% Certain-teed pf 310, Champ P&F pt (6). 10 30% Ches & Ohto €2.50) 3 % Chi & East 11 pf (r) 1 Chi Grt West pf (r) 6% Cht Mafl Order_____ % ChiMStP&P (r).. 14 Ch1 M St P&P pf(r). 14 Chi & Northw'n (r). 8% Chi Pneu Tool _ “WChRI&P(ry 9 Chickasha Cot Ofl__ 21 Childs Co 54 Chrysler Corp 2.50e 104 City lce & Fuel .60e 90 City I&F pt (6.50) . 260 2 Citv Stores 24 Clark Equip 1.: 256 _ 26 Clev Graphite(.40e) 25% Climax Molyb 1.20_. 251 Cluett Peab (le)_ __ 10 Colzate-Pal-P (.60) 16!z Collins & Aik (2.25e oy o S & - o D g9 0 o @ - > 121% Colo Fuel & Iron 4% Columb G & E] 20e. 73 Col GEE pf (A)16). 28 Comcl Credit (4) .__ 33 Comel Inv Tr (4) . 97% Comel Inv T pf 4.25. 8 Comel Solvents _ 26 Comwith Ed (1.80)_ 3% Comwith & South'n. 42 Comwith & S pf (3). 14 Congoleum (1).. 8 Congress Cigar.._.. 19% Consol Aircraft. 7% Consol Cigar (.76e 77 Consol Cigar pf (1). 4% Consol Cop M .16e_. 23 Consol Edison 12) .. 97% Consol Edis ot (5) 5% Consol Film pf .50k. 2Y% Consol Laundries _ 5% Consol O1) +.80) 9% Container Corp .508 T% Cont1 Baking (A).. % Contl Baking (B)._. 33 Contl Can (le) 4% Contl Diamond .25e. 277% Contl Lnsur 1.60a)_. 2 Contl Motor 16% Contl Oil (.50e) . 181 Contl Steel (.50e) 15% Copperweld Stl .40e 47 Copperweld pf 2.50_ 42'% Corn Exchange (3). 44% Corn Products (3) 4 Coty Ino (.25e)... 13% Crane Co 25 Cream of Wheat(2). 3% Crosley Corp .. 181 Crown Cork & Seal. 12 Crown Zeller (1e) . 2 75 Crown 25 Cructb! 60: 1 Bteel_____. d 5] PEFN-=JoP P IeTCE T @ 09,0030 00 1= 00 = 1 2 a0 3 12 s s 3 waow Wl s 3 6 5 6 ller pf(5)- !00-5 HM + % 40% +13 10% + 4% 13 21 + 1 39% +2y 5% + 1 10% 9% T + % 26 414 36% +2Y% 124 =% 22% + % 15 12 + % 149% +1% 73 41 5% +1 3% + 614 + 21% +1% 7 24 15 +1% 5% 14y Y Y 1g k] 20% +1% 4% + % ™ - Y% 2% + 4 6 -1 4% + 3 + % + +Fidrb i+ - 5 SESEEe 8 166% 384 35 214 831, 61 38% 5% 18% Ty 57i |4 145 1% 29 41 49% [ 101 1301 56% 1274 10 19% # 333 3115 244 34% 16% 35% 115 18% 109% 125 159 22 25 10% 3 Eastman Kodak «6) Eastm Kodak pf (6) Eaton Mfg (1.50e) . % Eitington Schild _. Elec Auto-L 1.50e_ Elec Pwr & Light 15% Elec Pwr & Lt $6 pt 1814 Elec Pwr & Lt $7 pt Elec Stor Bat (2)__. Elk Horn Coal El Paso Nat G Endicott-J pf (5) ... % Eng Pub Service _ Eng Pub Sve pf (5). +« Equit OMce Bldg RR 1st pf u-) Product: Ex-Cell-O (.40e)... '« Fairbanks Co pt. Fairb’ks Morae(1, + Fajardo Sugar (le) Fed Lt & Trac (le). 90 Fed Lt& Trpt (8)_. 17% Fed Min & Sm 25e. 2% ‘Fed Motor Truck .. fi Fed Water Svo (A). Ferro Enamel (1a). Fidelity Phoe 1.60a. Firestone pt (6) __. Flintkote (1g) _ Florence Stove .60e. Follansbee Bro (r). Food Mach (.25e) .. 3 Foster Wheeler _ Foster Wheeler pf_. Francisco Sugar Freeport Sulph (1). 2 Gair (Robert) Gamewell Co(1.50e) 312 Gen Am Invest . 35% Gen Am Tra 2.375g_ 5% Gen Baking (.15e)_. 126 Gen Baking pf (8) 4'% Gen Cable 11% Gen Cable (A) 26 Gen Electric (.70e)_ 36 Gen Foods (2) __ 1% Gen Gas & El (A). T7% Gen Mills (4a) ____ 120 Gen Mills pf (5) 87% Gen Motors (1.75e). 116 Gen Motors pt (5) _. 5'2 Gen Print Ink .10e. Gen Rwy Signal Gen Realty & Util__ Gen Refractor .50e . Gen Steel Cast pt Gen Telephone 1.20. 73 Gen'Thea Equ .20e_. 10% Gen Tire & R .60e _ 4'% Gillette Saf R (.60). 337 Glllette S R pf (5) Gimbel Bros . Gobel (Adolf) Goebel Brew (.20) Goodrich (BF) __. Goodrich(BFpf(5) Goodyear T&R .T5e. Gotham Silk Hose_ . Graham-Paige - Granby Consol .60e. Grand Un war ctfs. Granite City 8 Great North'n pf Grt Nor O etfs .7 % Great Wn Sug (2 Green (HL) ((2a) % Greyhound (1) - Grumman Afrcraft. % Guantanamo Sugar. Guantanamo S of__. Hacken Water 1.50.. % Hall (WF) Prtg (1) Harb-Walker (.50e) Harb-Walk pf (6) Hnt Corp (A) .30e. Mfg Corp .. y Hcck Prod (.60 14 Hercules Mot .25 Holland Furn .50« % Hollander (A) Holly Sugar Homestake (4.50) _ Houd-Her (B) .75e_ % Houston O1) Howe Sound (3) _, Hudson Bay (le)_.. 2 Hudson & Man pf__. Hudson Motor. 4 Hupp Motor _ 1l1inots Central Ilinots Central pf_ Ingersoll-Rand (2e) Inland Steel (2e) _ Inspiration Copper. Interchem pf (6) Interlake iron . Intl Agricultural__. Intl Agricul prpf__ h (6a). 27',“ 84 10% Intl Harv Intl Harvest pf (7). Intl Hydro-El (A) .. Int] Mercantile Ma. Intl Mining (.20e) . Intl Nickel Can (2). Intl Nickel pf (7) .1 Intl Paper & Power Intl Pap&P pf 1.25¢ Intl RyCA pf 3.25k_ Intl Salt (1.50) Intl Shoe (1.50) ... 4 Intl Sflver _____.. Intl Tel & Teleg. Intl T & T for'n cf; Interstate Dept Str. 4 Interstate DS pf(7) Island Crk Coal (2). Jewel Tea (2.40) Johns-Manville .75e 4 Jones & Lau pf (1k) Kalamazoo Stov .60. Kansas City Sou . Kaufman Dept .25e. Kelsey-Haves (A)._. Kelsey-Haves (R) XKennecott Cop (1e). Keystone Steel .50e Kimberly-Clark 1a_ Kinney (G R) - Kresge (SS) 1.20a_. Kroger Groe (2) ... Lambert (.75e) .__. Lee Rub & T (.76e). 108% Leh Port Cpf (4) . 2 Leh Valley Coal pt. 1% Leh Valley RR (r)_ 15% Lehman Corp (.40e) 9% Lehn & Fink (.50e) . 18% Lerner Stores (2) _ 32% Libbey-Ow-F (le)_. 5 Libby McN & L' 33t Life Save: 87 LIRE & Myers(B)da 13% Lima Locomotive._. 27 'Link-Belt (1) ._o... 27% Lockheed Afrc... 20% Loew's Ine (2) 97 Loew’s Inc pf (6.60) 15% Loft Ino - 29% Lone Star Cmt (3)_. 2 Long Bell (A) 15 Loose-Wiles .75e _. 105% Loose-Wiles pf (5). 18% Lorillard (.60e)____ 154 Louis GEE (A) 160 38" Louis & Nash 1.25e. 17 Mack Trucks 20% Macy (RH) Co (1e) 9% Madis Sq Gar .60e _ 21% Magma Copper (1e) 13% Man Ry m gtd ct(r) 11% Manhat Shirt (1) _. 3% Marine MidI'd(.20e) 27 Market St Ry pr pf_ 8% Marshall Field 40.. 29% Martin (Glen) ... 6% Martin-Parry .. 22 Masonite Corp (18). 21% Mathieson Alk 1.60. 36% May Dept Strs (3) 24 Maytag Copt (3) 98 Maytag 1st pf () __ 10% MeCall Corp (1.40). 10 MecCrory 8trs (1y... 17% McGraw Elec (1) ... 27 Meintyre Pore (2a). 5% McKeesport Tin _.. 4 McKesson & Rob... 18 MoKesson& Rof.. 5 MoLellan Strs .40e... 7% Mead Corp. A Electric Boat .40e_.x 76 14 4 G N0 .4 2814 +1%4 12% + % 3l 19 41y 22% +1 1" -1 + % © & FEFEOFE Eweess” +++ 1+ 4+ +F 0L A+ 4 & 9% 17 41 18% 9% Natl Cash Reg (1) Natl Cyl Gas (.20e) % Natl Dairy « 80) Natl Dairy pf A(7). Natl Dept Stores _. Natl Ii=tiliers (2)._ Natl Gypsum ____ Natl Lead « 60) _ Nat Malleable .50e_ Nat) Pwr & Lt 60._ Natl Steel (.60e) Natl Supply Natl Supply $2 pf Natl Tea Co Natomas (.80) Newberry (JJ) 2 40 Newport Indus N Y Air Brake (le). 4 N ¥ Centrai N ¥ Chi & St Louts_ NYChn&stLpt NY Dock pt NYNH&H (1) N Y Shipbilding 18% 1161% 103% 615 3 264 17% 12% 51 2213 144 27 131 8% 5% 48 6 N Y Shipbz pf 1.75k 1840s134% 1 182 Norfolk & Wn (10). Nor Am Aviation _. 98 % Nor Am Co (1.20) 20 4 No Am 6%% pf 2875 5 Northern Pacific 29 # Norwalk Tire 2 Norwich Pharmacal 2 Ohlo Ol (.20e) Oliver Farm Equip_ Omnibus Corp 1.20 2 Otis Elevator .35 Otis Stee Otis Steel 1st pf Owens-I11 Gl (1e) __ Pac Am Fisherte Pacific Coast . Pac Coast 1st pt _ Pac Coast 2d pt Pac Gas & El 1.50e Pac Lizhting (3) Pac Mills Pac Tel & Teleg (1) Packard Motor Pan-Am Alrways : Panhandle . Paraffine Inc 1.25e . Paramount Pic .15e. Paramount 1st (6)_ Param't 2d nt « 60) Park Utah M .10e _. Parke Davis (.80e)_ Parmelee Trans Pathe Film Patino Mines Penney (JC) (.75e). Penn-Dixie Cement Penn-Dixie Cem pt Penn Raildoad .50e Peoples D new .50e. Peoples GLt&C(1e) Pere Marquette pt Pere Marq prpt ___ Pet Milk (1) - Phelps Dodge .50e_. Philip Morris (3a) . Phillips-Jones __ Phillips Petrol (2)_ Pillsbury F1 (1.60)_ Pitts Coal Pitts Coal pf_ Pittsbgh Screw .158 5 Pitts Steel % Pitts Steel pf (B)._ 7 Pitts& W Va - Plymouth Of 1.40__ Poor & Co (B) __. Pressed Steel Car__ Proctor & Gam (2a) 4 Proctor & G pf (5) Pub Sve (NJ) 1.20e Pub Sve(NJ)pt(5) Pub Sve(NJ)pf(6)_ Pub Sve(NJ)pf(8)_ Pullman (.50e) Pure Oil Pure Oll of (5 Purity Baking .50e. Radio Corp (.20e) _ Radio C cv pf(3.50) Radio-Keith-Ur (r) Rayonter Inc _. Rayonier pf (1k) % Reading Co (1) Reading 2d pf (2)__ ' Reis & Co 1st pt Reming Rand (.40e) Rem R'd pfww 4.50 Reo Motor vtc ctfs_ Republic Steel __ Rep Steel pf A (6)_. 7% Revere Copper Revere Cop 6%% pf Reynolds Metals.__ Reynolds Spring . __ Reyn Tob (B) (le)_ Richfield O1) (.50g). Ruberotd (1.10g) Safeway Strs .75 Safeway S pf (5) St Joseph Lead(1a) Savage Arms (.50e) ‘2 Schenley Distillers_ Schenley pf (6.50)_. Schulte Retail 8 (r) Scott Paper (1.60)_. Seaboard Ofl (1) _. Sears Roebuck (3) Servel Ine (1) Sharp & Dohme __ Sharp & D pf (3.50) Shattuck (FG)(.40) Sheaffer Pen 2.25e . 8 Sheli Un Ol (.60g)_ 3% Silver King (.10e)_. 12} Simmons Co - 13 Skelly O1l (.25ey 70 Sloss-Sheffield 1.50e ETT TV [SYSN T - 5 3 - <} S o TS -TPTOTITS TSIV IOL P 8k 125 12% 657 10% 2% 1714 853 47 'SunOfl +2 4% Bn + % 4% +u % 33 215 Tex (Gul 26% Tex Gu 5% 4 45 4+ % +1% 8+ % +15% + 1 + 14 &+ & 20 425 114 134% 4307 132'. 18215 +21, m«. Thomp 20th Ce: 20th Ce: Un Bag Unton C e aE = Union ¢ Unit A1 United 2 Unitea Unitea United Unit El Unitea % Unitea 44 Stewart-Warne; 5 Stone & Webster_. 5% Studebaker % Sunshine Min 1. " 1% Supertor 011 9% Superior Steel _ 20 Sutherl’ 18 Swift & Co (1.20) 18 Swift Int) (2) Syming-Gould ww. Syming-Gould xw ‘Tennessee Corp ___ Texas Corp (2) Tex Pac C&O (.40) - Tex Pac Ld Tr 10g_ Texas & Pac Rwy . Thermotd & Thermoid pf 1.75k . Third Avenue Thompson (J R) Tide Wat As O .40e_ Timken-Det Ax (1) Timken R Brg 1.25e Transamerica (.60) Transeont! & W Afr Transue & Will .15e % Tri-Continentat 4 Twin Coach 4 Ulen & Co (1) 4 Unton El(Mo)pf(5) Unton Pacific (6) _ 5% Union Pac pf (4) Un Tank Car (1.80) Unit Afreraft 1.50e. Unit Carbon (3) __. (1a) _ d Pap 1.20__ e B0 10 00 = 190 00 1 1 53 10 1O 1S @ 10 b= €1 4 00 33 D 10 1O 19 =1 89 b 09 09 D1 20 1 If Prod(.10e) 1f Sul (2a) . +H++ FIFtE At 2 Prod(.75e) _ ntury Fox _ n F pf 1.60 N st & Pap .15e). Carb (1.10e) 3 )1l(Cal) 50e. r Lines Biscuit 50e_ s Corp Corp pf (35- Drue * +++++l4¢||+ Unit Dyewd pf (7)_. ectric Coal . Fruit (4) Gas Imp (1) Unit Mer & Mfg 50e U S Distributing pt U S & For'n Secur__ U S Gypsum (2) U S Hoffman U S Indus Alcohol US Leather US Leather (A) U S Ru SSm b 1st pf (8) . & Ref (2e)_ U S Steel (le) . U S Ste Unit St el pf (7) ores (A) Unit Storespf ____. Univ Leaf T pt (8). Vanadi Va-Carq Vulean Walker Wash't West n West'n West'n 2 West'n Wheelt Wilcox Wilson Wortht: Yellow Yellow Zenith Approximate Sales 11:00 A.M.__ 1:00 P.M. Total Bankruptey Act. or 4 inctugeq 13% . o 13% 134 + 4 T4 1T 47 videna far thy stock Waldorf System 60 4 Walgreen (1.60). _. « Walker (H) (4) Walworth Co ___ Ward Baking (B) 4 Ward Baking pf _ Warner Bros Pict Warren Bros (r) __ Warren Fy & P (2) . o West Penn E pf (7) W Va Pulp & P.25e Wright Aero (2g) .. Wrigley (3a) Rates of dividend in the foregoing bursements based on the iast quarterly or sem a) Unless otherwise Goted special or rxirs dividends = a rights 4 Accumuiate 'gividends paid ‘et “vear® this 1 Payabl um, oo 0 Chem Va-Caro Chem pt Va Elec Pwr pf (6) Detin 4.50e (H) pf (1).. 4+ % 8 + % on G Lt 1.50 Auto S (2) Maryland._. Md 24 pt Unton Tel__ + % + 1 +11 Westh'se A B 60e _ Westhse Elec 1.75e Westvaco (1.40) 3 3 z- Westvaco pf (1.50) 2 +1% ng Steel ___ : White Motor White Rock White Sewing Mch White S M pr pf (2) Oil & G 10e Willys-Overland . Willys-Overl'd pf & Co Wilson&Co pf (3K)- Woodward Iron Woolworth (2.40) ngton Pump. Truck Tr'k pf (1) %« Young Spg & Wir Ygstwn Sh & T .26e Ygstwn Steel D .50e Radio (1e)_. 2 Zonite Products ... 2 of Stocks on the N. Y. - 250,000 12:00 Noon __ 520.000 2:00 P.M. Sales for the day, 750,000 420,000 620,000 -unn ©of trading 10 shares T In oankruptcy or receivership or being reorganized onder securities assumed by such companie table are nun) s deciara- are not xr Ex Alsg e DecTaren " Pato ‘inst year. °L 8‘“’ ) able in stock X Accumnlated dividends oaid or declared this vear Copper and Brass Orders Up Sharply in May By the Associated Press. NEW YORK, May 87.—Allied| copper and brass purchases for munitions will lift May domestic | manufacturing activity to the high- est rate since January, a survey of trade opinion revealed. Some estimates placed brass mill operations for May at around 70 per cent of capacity, with shipments in- dicated at close to 75,000 tons. The French were particularly active in the fabricating field. Metal dealers appeared satisfied the price structure for refined cop- per had withstood so well the con- stant battering of war news. While sales in the volatile resale section were made as low as 11% cents a pound early this week, the basis firmed to 11% cents at the week end. Primary producers ig- nored the minor fluctuations in re- sale and custom smelter markets and adhered to the 11%-cent price quoted since late February. Minor amounts of the red metal sold to foreign buyers at 1133 cents a pound. Zinc came to life when overseas interests bought heavby tonnages. As a result the price advanced % cent| to 6 cents, East St. Louis, on Friday. Lead business was confined main- | 1y to carload lots at the unchanged|J price of 5.00-5.05 cents a pound. Money Market m YORK. May 27 (H —Clll manev eo-oo a‘i'l, l’;:/ xt'z six m";' &oreem Bty mons “‘?:‘;.“‘?me‘m it Tais New Fork Bank, 1 per cent, World Bank Declares Annual -Dividend By the Associated Press. BASEL, Switzerland, May 27.— On its 10th anniversary today the |Bank for International Settlements voted the usual 6 per cent divie dend for the financial year ended March 31. Thomas McKittrick, American banker and president of the bank, who held proxies for all absent presidents of member banks, said that a statement covering the bank’s profits will be issued later. New York Shipbuilding Preferred Jumps $32 | By the Associated Press. NEW YORK, May 27.—New York Shipbuilding Corp. preferred stock Jumped $32 a share in the Stock Ex- change today. The stock sold at $134 following announcement in Philadelphia the company had authorized retirement of the issue at $110 and accrued dividends of $2450 a share. The common rose to $20.25 from Satur- Immediately after the meeting|day’s close of $17.37. Mr. McKittrick followed his staff and records to Chateau Doex, the mountain resort just north of Mon- treux, which is the bank’s wartime headquarters. New York Sugar NEW YORK, May 27 (P.—Producer and speculative (uying pushed worlc susar futures higher t bu Wlll Street scll- ing cut into Midafternoon prices were unchanged to 1‘/: points higher, July selling at 1. estic_ contracts deeumd B specil tive Hauldation and profit taking met het lim- ited trade s upport, Prices were off 3 to 59%01!1", 'll Jllly at 1.82 and Maich, ‘The raw market was quiet, Cubas for June shipment were offered at 2.8) cents, duty paid. ~Puerto Ricos clearing in June Fere AVhilsble ‘st the same price refined market continued quiet at 4.50 cents, No. !nlu. 4750 tons. High, I xnb Ee !. 192 188 o (nturu. 1 lower to 1% mlher Sales, 5.900 1 18 1.13% 1. ‘l2}2h &"&%‘.“"" Tide 1y b b—Bid. ~ i “ Federal Land Banks | B&Yfi!‘ May 27 (®.—Federal 'lAnd 1o A% i 3 closed 3 to 4 lower. | Rocky Visible Grain Supply NEW YORK, May 27 (#).—Visible supply of American grain showed the following changes from a week ago (in bushels): Wheat decreased 3,909,000; corn decreased 4,239,000; oats decreased 541,000; rye decreased 90,000; barley decrelsed 311,000, Crude Oil Prices TULSA. May 27 prices: Mid-continent a; klahoma-Kansas, gra scale. 10 th, " North - Centrar lnd wexz aravity seale. 71c to $1.. West exas, B3¢ o Oge: " Noxth ufiun-n - gravity scale, 7ie, fo 3105 ountain arba; Bait Creek, Wyo. IYIVfl’ itlle sflg to sl lfl‘ d ! d ; Feppsvivania srade (Brad- fora-Alleanang). me ’ South: 'nz Pennsyivania mm !l’ldf lllrekl lines, $2. (#.—Base crude oil ea. Tlinois s'x 05: Central Texa entr East Tex, e llm!k scale, ansas. Rocky M Steel Quotations 27 (P).—Steel 1 b Pitisburh: > Het iice. 210, bars, 2.15. Folled smmm ivanized lhutl- 3.50. Steel 3% | London Tin Prices 54 Bl e | points before running | the rise. 1939 high.. 77.0 238 539 1939 low... 588 157 416 60-Stock Range Since 1927: 1937-38. 1932-386. 102, High _ 758 12.8 .7 Low __. 33.7 16.9 618 (Compliled by the Associated Press.) By VICTOR EUBANK, Associated Press Pinancial Writer, NEW YORK, May 27.—The stock market shook off some of its war nervousness today and leading issues were pushed up 1 to more than 2 into light selling. Steels, aircrafts, coppers and a * | wide variety of industrials that stand to benefit from the huge domestic rearming program, as well as larger purchases from European sources, were in the van of the morning | climb. Dealings never got out of hand, however, and the ticker tape fre- quently loafed. Sufficient offerings cropped up in the final hour to stem Gains were substantially v*‘: | Chlcago Grain +2r‘ % 2 + % Stock Exchange | cut or canceled in many cases at the close. Transfers were around 800,000 |shares, While the news from embattled Flanders was nothing to cheer about, marketwise, traders seemed a bit | more optimistic over reports the | Allies, after falling back to new | positions, were putting up strong resistance to the Nazi thrust. The estimated advance of 39 |points in this week's steel mill | operations to the highest level since | late January was comforting to fol- | lowers of the steels, although in line with forecasts. New York Shipbuilding preferred | outdistanced other stocks with an upswing of about 31 points to around 134. The stock sold last Tuesday at 103%. Today the company's di- { rectors voted to call the issue at | 110, plus accrued dividends of $24.50 & share, In front the greater part of the | session—some eventually retreated— were United States Steel, Bethle- hem, Sperry, Glenn Martin, United Aircraft, Du Pont, Sears Roebuck, Anaconda, Kennecott, American Telephone, American Smelting, Santa Fe, Johns-Manville and United States Gypsum. | By the Associated Press. CHICAGO, May 27.—Wheat prices | turned lower today, losing about a cent here at times and even more at ‘Winnipeg. | Failure of week end news to favor \ the Allied situation caused some disappointment among traders while | uncertainty regarding the war and | lagging European demand for North American grain continued to_restrict | operations. Traders reported mill- ing activity -had diminished inas- | much as much flour has been booked | as far ahead as three or four months | and in some cases to the end of the | year. Wheat closed %-17x cents lower than Saturday, Jul\, 84-84'5 ;" Sep- tember, 837 -84; corn % lower to % higher, Jyly, 63!} September, | 62%-12; oats 1 lower. Open. High. Low. Close. WHEAT— 2 R4 Rty R33Re September 115 | December 505 OATS— 2| July____ .34 September white, hu' -12; sample &r. white; Barley, malting. 58-64, nom.: feed. 40- 48, nom.; No.& malting, 65; No. 3 malt« ng_ 64 Soy beans. No. 3 yellow. 88%%; No. 4, §7. : Winnipeg Prices. High. Low. P02 ose. WHEAT— 26t Ji8%=Th 93, Close, Northern, No. 2, oats, No. 2 ite, 34's Baltimore Quotations, BALTIMORE. May 27 (#).—Wheat. No. 2 red winter, garlicky, spot, domestic, 1.0, Short-Term Securities (Reported by Smith, Blrm‘a‘é& Co.) Ala Gt Southern “A™ 5s 43 Alleghany, Corp v 5s 44 Amer 3 12 & Nor'western Sedl Central Foundry 6s Eeniral BR of Georeta by 42 Chicago Union Station 4s 44 Childs Co 55 43. Cnlo Puel & Iron 55 43 Conn & Frisump RS 48 43 Container Corp 5 Cuba: Northern Rys 5Yas 42 Delaware & Hudson Tht) HyQro-Blectiic ‘644 Intnatl Merc Marine 6s 417 Laclede Gas Lisht B3 42 © e Erie & Western 55 41 kmlh Valley Term 5l 41 Liggett & Myers 7s 4 NE Central & Hadson 4542 Wash 45 43._ 109 nl’v 5 lelnn 5s 43 alif 108 42 &fl Light 55 44 e Western N ¥ & Ta 45 4372 108" Odd-Lot Dealings BY the Associated Press. The Securities Commission reported to- day these Jransactions by customers with Qid-lot dealers or spectalists on, the_New York Stock Exchange for May 25: 3.841 purchases, 1nvol'1nl 94,838 mlr!l 2,858 sales, involving 71.994 shares, incls 51 Short sales. Tnvolving 1086 shares, Railway Income May 27 (P ~Net operats lnmmp before Fxed charges and other income, of railroads reporting today for april included: !llnmorn & Ohlo__ A Fe 1 41"8 D 00 fl Louisviue & Nashvide 1,04 J