Evening Star Newspaper, June 2, 1940, Page 31

FIN Bond Market Holds To Narrow Groove At Week's Close Foreign Dollar Loans, Rails and Utilities Edge Higher By the Associated Press NEW YORK, June 1.—The bond | market had few changes of more | than small fractions today. Rails, utidities and foreign dollar obliga- | tions advanced on average, while the reverse was true of low-yields ANCIAL. THE SUNDAY STAR, WASHINGTON, and industrials. The sensitive foreign group, which has bobbed up and down violently as the tide of battle has favored first | one and then another of the Euro- | pean belligerents, underwent no imu portant change from Friday’s prices. | German 7s lost more than a point | and Italian 7s yielded nearly that much under light offerings. Yoko- hama 6s, Belgium 7s and Haiti 6s | ‘were among the better gainers. | Domestic loans changing hands at | advances of fractions to around a| point included Standard Oil N. J.| 234s at 10175, Missouri-Kansas-Texas | 5s at 10%, Montana Power 33;s at 98, Nickel Plate 4':s at 51 and mmmsl Central 4%,s at 31!; Standing still or lofimg small sums | were Alleghany 5s, Commonwealth Edison 3'.s, Great Northern 4s and P?nni\l\nnm general 41,s. Only 6 of the 32 listed Govern- | ment bonds appeared on the tape during the two-hour session and the face value of those traded aggre- | gated but $15000. Changes were | insignificant. 7 Total sale of $1.915.250, par value, were the smallest since last August 19 and compared with $2,651,800 last Saturday. Baltimore Markets | Bpectal Dispatch to The Star. BALTIMORE, Md., June 1—Live poultry went through the week with only a few changes in quotations. ‘The trend was slightly downward but about the only stock affected was young chickens and ducks, Fowl continued steady and was in good demand, especially larger birds. Roosters were unchanged. The de- mand for voung stock was confined principally to the better grades. Some quotations eased off from 1 to 2 cents per pound, voung Rocks and mixed colors, along with Leg- horns, being affected. ‘Young crosses held steady. Receipts were moderate through- out the week and demand was fairly good. As a result, practically all stock was well cleared The less desirable young Rocks declined 2 cents, with quotations 22a26. Crosses remained 2la24, but mixed colors decreased to 22a24 and Leghorns to 20 for birds weighing 2!, pounds and up with smaller stock bringing 18al9. Fowl was unchanged at 17a19 for Rocks, 15a18 for mixed colors and 13al5 for Leghorns. Roosters met with slow demand at steady prices, mixed colors selling 10a12 and T.eg- horns, 7al10. Young Pekin ducks declined 1 cent per pound and sold 15a16. Egg Changes Small. Egg quotations also were slightly changed, whites increasing frac- tionally. Mixed colors were steady. ‘The receipts were lighter than usual during the early part of the week, ' but showed considerable improve- ment later. Best nearby ungraded whites increased to 16a18 a dozen, with a few bringing a slightly higher price. Mixed colers continued 15'za 16%%. ‘With receipts of native and nearby garden truck increasing, prices were somewhat easier on most items. The market was rather dull. Some East- ern Shore asparagus decreased slightly, with very large selling 2.25a 3.00 dozen bunches, large 1.50a2.25, medium to large 1.25a1.50 and small 1.00. Nearby Big Boston letture showed a marked decrease and sold 35a50 bushel. Radishes were steady at lallz bunch and spinach was a little lower, selling 10a35 bushel. Rhubarb declined to 1a3 bunch. Eastern Shore sweet potatoes held steady at 1.50a1.60 bushel, with a few bringing slightly higher prices and ungraned stock 1.00a1.25. Near- by strawberries in fair volume reached the market late in the week. They sold 1.50a225 per 24-quart crate. Livestock Market. Cattle, 35; compared last Friday, steers steady to 15 lower; week's top, 11.10 for 922-pound yearlings; bulk | others medium and good 950-1,200‘ pounds. 850a10.15; heifers scarce; | beef cows, 6.00a7.30; fleshy common | grade yellow cows, 5.50a6.00; bulk canners and cutters, 4.50a5.50; ema- ciated kinds down to 4.00; top, sau-i sage bulls, 7.25. | N Calves, 40; compared with last Fri- | good and common day, vealers 50 lower; choice grades, 9.50a10.50; and medium, 7.00a9.00. Hogs. 300; nominally steady; com- | 5 pared with week ago, butchers 170 | | Group 1936 A. P. MARKET AVERAGES—Economic barometers steadied this Press statistics. week, as shown on the above chart based on latest Assoclated Stocks came back a little after their precipitous two-week decline, which was one of the sharpest in stock market history. Bonds and commodities gained small fractions. Indus- trial activity advanced for the fourth successive week. |Boston Wool Market 'Quiet During Week By the Associated Press. BOSTON, June 1.—(United Sl‘l‘e! Department of Agriculture).—Busi- ness was slow in the Boston wool market during the last week, and prices of domestic wools were ir-| regular. Some spot wools brought prices in line with last week’s quotations on fill-in purchases. A few hedged lots of original bag fine wools were sold at prices irregularly lower than quotations on the bulk of the offer- | ings. Graded wools were mostly quiet, and quotations were steady to only | slightly lower. Grease basis quo- tations were unchanged on graded | combing bright fleece wools al 33- | 34 cents for fine delaine, at 34-35 cents for half bloods and 37-38 cents for three-eights and quarter bloods. Investing Companies NEW YORK. June 1 (#.—National As- sociation Securities Dealers, In Admin Fd 2nd Inc Aeronaut Sec Aifil:ated cl ;Bankers Nat Inv Corp Basic Industry *Blair & Co Boston _Fund Inc Can Inv Fund Chemical Fund Comwlith Invest Continental Sh pf Corporate Trust Corporate Trust A Corp Tr Accum Corp Tr A A Mod Corp Tr Acc_Mod _ Cumulative Tr Sh Depos Bk Sh N Y, Depos Ins Shrs “A™ Diversified Tr C Dividend 8hrs Eaton & How Fund “A- Equity Corp $i pf Pidelity Fund Inc *First Boston Corp Eirst Mutual Tr Fd Gen Investors Tr Group Sec Agricultural” __ Group Sec Automobil Group Bec Aviation Group Bec Building Group Sec Chemic; Group Sec Foods Group Sec Invest Shrs Group Sec Sec Sec Merchandising Mining 3 Group Petroleum Group Sec R R Equip Group Sec Steel Group Bec Tobacco Incorp Investors Independence Tr Sh Inst! Sec, Instl Sec, Investors Keystone Keystone Keystone Keystone Keystone Keystone Keystone Manhat Bond Fund CLEE LT T Mutual _Invest Nation Wide Sec = 1 Wide Voting nd Fu ¥ Shocks ‘Automobils Y Stocks Aviation ¥ Stocks Bk Stocks ¥ Y Stocks Bldg Supply N Y Stocks Chemical _ Y Stocks Elec Equip Y Stocl pounds up and packing sows 5 lower; | § light lighte 5a25 awer; pigs 30 off; practical top, 6.00; good and choice | 170-210 pounds, 5.75a6.00; 220-2401 pounds, 5.50a75; 250-300 pounds, 5.00 a55; 150-160 pounds, 5.40a65; 140-150 pounds, 5.00a25; 130-140 pounds, 475‘ a5.00 ;120-130 pounds, 4.60a85; pack- ing sows, 3.90a4.40. | Sheep, no receipts; compared with| last Friday, spring lambs around | steady; not enough other classes to test market; good and choice grades | native trucked-in arrivals, 12.00a40; leniently sorted, 12.00; choice rail unloads, 12.50a60; throwouts, 9.00a 10.50: few fat slaughter ewes, 3.50a 75; old thin sheep, 1.00a2.00. | Grain Market. Opening prices were: Wheat, No. 2 red winter, garlicky, spot, domestic bushel, 1.01'2. Closing prices wer ‘Wheat, No. 2 red winter, garlicky, spot, domestic, bushel, 98. Corn, No. 2 yellow, domestic, bush- el, 76a78. Western billing at a! premium over this price. Cob corn, barrel, 3.50a3.70; country prices re- ported, 3.30a3.50. Oats, bushel, No. 2 white, domestic, | 53a58; Pacific Coast, No. 1 white, 72a | 74. On all sales of oats to the local | trade, excepting those on track, there | is an additional charge of 1% cents per bushel for storage and elevation, which is paid by the buyer. Rye, No. 2, bushel, 70a75. Barley, No. 2, bushel, 55a60. Hay, ton, 14.00a 17.00. Wheat straw, ton, 9.50a10.00. Flour, barrel, winter, patent, 5.70a 6.00; winter, straight, 4.50a4.75; spring, patent, 5.35a5.60; spring, straight, 5.10a5.30; hard winter, pat- ent, 5.09a5.20; hard winter, straight, 4.8085.05; rys flour, dark to white, 3.80a4.40. Millfeed, ton, spring bran, 30.50a 3150; standard middlings, 31.00a 32.00. R R Equip_ N Y Stocks Steel = North Am Bond Tr ctfs _ Nor Am Tr Shrs 1953 Nor Am Tr Shrs 1955 Nor Am Tr Shrs 1956 Nor Am Tr Shrs 1958 Plymouth Fund Inc __ Putnam (G) Fund Quarterly Income Sh “Bchoellkopi-Hut. & Pom- Selected Am Sh Inc Selected Income 8h Sovereign_Invest “Trustes Stand sTrusteed Stand Inv D Trusieed Am Bk B rusteed Industry Shrs Welliaston" Pung " #Not quoted by sponsors or issuers. Suotations furnished by National’ Asso- clation of Securities Dealers, Inc.. which States they do not. neces my refiect actual transactions or~firm bids or should indicate approximate p and unless otherwise Indicated are as quoted by the sponsors or issuers. Federal Land Banks NEW YOKK June 1 (#.—Federal Land Bank bonds: Bid. Asked. 109% ALIONA 3d & N NE £ | D. C. Securities (Quotations by Johnston. Lemon & Co.) Closing bid and asked quoia- ne. on Washingion securities which are | traded over the counter follow: BONDS. | Barber & Ross deb 45 45 Cong Country Club 2d 6s 48 Consolidated Title 65 51 Bid. 24 25 100 45 685 Rila % % Asked. Bldg 5127 Mayiver Hotel 15t 55 B0 ws Natl Press Blde 1st 3-53 50 Natl Press Blde adj 4':s 50 Racquet Club 1st Bs 45 Shoreham_ Hotel 2d 45 44 Wash Auditorium” 1st 65 44 Wash Properties 75 52___ STOCKS. American Co ptd American Co common_ | Anacostia Bank | Anscostia Finance | Areade Co Barber & Ross ptd (new) Barber & Ross “'B” common Capito) ‘Park Hotel Sity Bank National Bank cqmuna-ud Title Corp ptd Consolidgted Title Corp com istrict Natl Securities pfd | Basi ' Wash Savings Bank PFidelity Storag Gflgm-cansumars ptd th-Consumers common Hamilton National Bank International ‘Finance Units “Lincoln Hall Association Merchants Transt & Ste pfd Merchants Trans! & Stg com Muj Trust Co sey. t anonll Capital Insurance Natl Mtge & 1 Club h Convention Hall pfd. Wash Conventlon Hall com Wash Properties Inc vtc Jaah Rwy & Eiec part units Wash Sanitary Housin Wash Sanitary Improv Co- *Ncminal. Grain Futures Volume Far Above Year Ago By the Associated Press. CHICAGO, June 1.—'I‘he business of buying and selling grain for fu- ture delivery has been traveling along at twice the pace of a year ago. In the first five months of this year, excluding Friday's totals, the volume of grains sold on the Chi- cago Board of Trade totaled 3,813,- 695,000 byshels. In the same period of 1939, 1 sales were 1,954,518,000 bushels. The bulk of the increase was in | the bread grains—wheat and rye. Sales of wheat in 1940 for the five | months totaled 3,257,749,000 bushels, in 1939 they were 1,342,879,000 bush- els. Rye sales this year were 150,- 592,000 bushels, compared with 45,- 416,000 in 1939. Corn, however, sold at a slower pace this year due partly to the fact that a record supply went into storage under loans. Sales in that grain amounted to 464,768,000 bushels last year, compared with 395,116,000 the corresponding months this year. The volume of oats showed only & negligible difference, 101,455,000 bushels in 1939, and 110,283,000 bushels in 1940. Insurance Stocks NEW YORK. June 1 (¥).—Natil s sociation Securities Dealers, Tne "7t A* Asked. Acta Cas (4w 102 Equit (1) aex Ins Nwk (Yas) _ Reins (1.608) urvo 1% Automobils (1 Balt Amer ( Boston Carolina ntin Cas (1 20) Pid & Dep Firemen's va (.40) Frank Fire (1a) Gen Reinsur (1a) Georg Home (1a) Glens Falls (1.60) _7_C Globe & Rep (2) Globe & R Gt Amer Inx Hanover (1.20) Hartford Fire (1) (LI ) Homestead (1) ~° Knickerbocker ('2) ___ Lincoln Fire < Marylend nd Natl Liberty (.20a New Amst Cas (34) N Pamwehirs 1'608) 0) Nor Bt las Nor River, (1) Phoei (2a) 2 Brov Wash*I1a) Rep Ins Tex (1 20a) Revere (P) In (1.20a) - sl In: 8¢ Paul Fire (%) Bpringfleld (4!2a) 8un Life (15) Travelers de - U S PFrd G (1) U 8 Fire (2) = Westchester . (1.20a) aAlso extra or extras. Quotations furnished by National Asso- clation of Securities Dealers. Inc.. which states they do not necessarily reflect actual sactions or firm bids or offers. but shouia” indieate approximate prices. New York Bank Stocks NEW YORK. June 1 (. —National As- sociation Securities Dealers. In Bid Asked lk nf Am NT8 (S (240) 31% .| 13! Gont Bk & Tr (& n Bx Bi & T Emmu Tr (60) First Nat (Bos) ( Eirst Natl (100) y Tr (12) fiving Tr (80) Manuf & Also extra or extras. Weekly Financial High Lights By the Assoclated Press. 1—Steel production 2—Auto production 3—Freight carloadings _ 4—Stock sales 5—Bond sales 3,512,057 $20,847,600 $23733.050 Final three ciphers omitted in following: 6—Electric power produced (kw. h.) 7—Crude oil produced (bbls.)_ 8—S8ecurity offerings 9—Bank clearings . 10—Demand deposits 11—Business loans . 12—Excess reserves . 13—Treasury gold stocl 14—Brokers’ loans . Money and Bank Rates: Call money, N. Y. Stock Exchange.. Ave. yield long-term Gvt. bonds.._. New York Reserve Bank rate Bank of England rate ___ Sources: 1—Am. Steel Inst. and 5—N. Y. Stock Exchange. Inst. 8—Poor’s. in 101 cities. 2—Ward’s. 6—Edison Institute. 9—Dun & Bradstreet. 12, 13 and 14—Federal Reserve. 2,204,858 3,585 $18 481 $4,314,048 $16,955,000 $3,837,000 $19,928 000 $4,414,000 $6,370,000 $4,220,000 $19,071,000 $15,957,000 $403,000 $568,000 1% 250% 1% 2% 3—Asso. Am. Railroads. 1% 2.08% 1% 2% 4 7—Am. Petroleum United States Treasury Position By the Associated Press. The position of the Treasury May 20 Working balance Inelided . Customs receipts for month. Recelnts for fiscal year (July 1)-. Expenditures cess of exi Gross debt Increase oves Gold assets -. 10 and 11—Reserve member banks | | | week; | in week and \ D. C, JUNE 2, 1940 — PART ONE. Washington Stock Exchange TRANSACTIONS ON WASHINGTON STOCK EXCHANGE—1940 UP TO AND INCLUDING PRIDAY, MAY 31, Approximate BONDS. Sales. PUBLIC UTILITIES. $15.000 na & Pot Riv R R 1st 5% 6,000 Pot Elec Pow 1st 3%% 1966 __ 23500 Wash Gas Light 1st 5% 1960 __ 11,500 Wash Ry & Elec Cons 4% 1951 MISCELLANEOUS. 2,000 Chevy Chase Club 1st 4V 1949 228,000 Capital Traction 1st 5% 1947 __... 2.000 City & Suburban Ry 1st 5% 1048 % 1957 2.000 Columbis Country Club 1st 4%% Open. High. Low. Last. Maturity. 103 101 103 4.45% 98% 102 96% 98 B.30 103% 103% 103% 103% 4.50 110 110% 100 110% 2.50 124% 131% 124% 120 3.05 108 100% 108 109 3.00 - 104% 104% 1957 . 104 104 104% 104 104% 104 3.90 3.95 STOCKS. Par PUBLIC UTILITIES, 3,182 Capital Transit 17 N & W Steamboat 275 Pot Elec Power pfd .. 380 Pot Elec Power pfd. 1,041 Wash Gas Light com _ 276 Wash Gas Light pfd__ 3 Wash Ry & El com _ 482 Wash Ry & El ptd _ $10 Value, - None - 100 836.00 Div. Rate, 00 150.50 143, 4.00 58 6.00 115 5.50 115% 1.50 29% 4.60 106 800 115% 15% 55 1u7 1154 20% 109 800 118 12 58 12 4 114 21% 99% 800 112% 4.16 6.89 5.38 4.82 6.97 4.50 4.50 5.00 4.44 BANKS AND TRUST COMPANIES. 35 Liberty 130 Riggs common 3 Rises preferred 35 Amer Bec & Trust 16 Nat Bav & Trust_ 10 Wash Loan & Trust 23 Bank of Bethesda TITLE INSURANCE. 22 Columbia MISCELLANEOUS. 75 J. Garfinckel pfd 495 Lanston Monotvpe . 10 Lincoln Service com 1,690 Mergenthaler Linotype 1,700 Nat Mtg & Inv prd 20 Peoples Drug Store com 405 Real Est Mte & Guar pfd 15 Security Storage 10 Term Ref & Whsg Corp 5 Woodward & Lothrop com e extra 10 | extras, 100 - 100 100 100 100 € $14 extra paid December k 20c extra. p 50c paid September 20, 1938, 6.00 166 €8.00 280 5.00 €8.00 1.00 €R.00 247% 0.75 170 280 102 252 200% 247% 35 170 3.52 3.07 4.90 0 247% 30 247% 30 k0.30 1.50 2.00 £1.00 P d0. 11,00 0.50 5.00 8.69 6.25 58 5.17 49% 40% 4.04 . 1939 t50c paid December 20, 199 paid 1939. d35c paid 1939. tPlus 6 Chlcago Livestock CHICAGO. June 1 (# (United Btates | Department of Agriculture) —Salable hogs. A00: total, 4.K00: rin comorised mostly | unfinished hogs and clean-up lots: not | enough good and choice hogs to try prices: auotable top. 5.65 shiopers took none: estimated holdover, 500: compared week ago. hogs weiching under, ~ approximately ~ steady; weighis and sows 10-15 lower Salable cattle. 200: no calves: compared Priday last week. fed steers and yearlings steady: all grades nnder vressure late in weneral market fairly active, how- ever. considering increased receipts early lower hide prices: heife closed steady to strong; cows strong 1o 5 higher, beef cows up most: bulls fairly steady’ but vealers 50-1.00 lower: largely steer and heifer run_with common and medium grades both classes scarce. espe- cinily plain and medium heifers: cows also below trade requirements: long fed. heavy steers scaling 1.350 pounds upward in moderate - subply - bull steer Fon- being strictly good to choice light and medium weight offerings: feeders steady: extreme fop, strictly prime_fed steers, 1%.40: next highest price, 11 st light yearling steers. 1100 heifers. 10.05 light offern 10.25: kiilers got very little under K.5 | feeder dealers competing for qualified light ! steers at 10.00 down: practical top o choice vealers on post-holiday trade. 10.50; outside. 11 00 Salable sheep. 500 pared Friday last week. supply relatively light: old crop lambs showing curtailment. with woolskins practically out of picture springers and fi prices on fed and spring lambs. 10- 25 higher. fat sheep strong: best native spring lambs in very small lots. 12°25: practicel "top. 12.15. with bulk better kinds. 11.50-12.00. and throwouts. 9.00- .50 several doubies. California springers scnlln'n(mm 25-11 0 heavier total 6.000; com- 5 | Dutch, moved higher, with very few light enough to bring 4.00: culls, mostly 2 50 down with shelly canners to 1.50 and below. {Maryland Tobacco Average prices varied considerably on the Southern Maryland auction markets on May 29. 30 and 1. as compared with the previous period. according to the Agri- cultural Marketing Service Most qual~ ties of bright crop. dull crop ixld stem- ming seconds were steady A slightly downward trend was noted in fair and low quality red. dark and green dull lnd all qualities of tips Green nondescript dropped to a new low of $4 & hundred pounds. Granulating seconds continued to decline slightly, following the trend of | the past week’ Sales have been fairly heavy through this period and the volume of offerings continues to consist principally “of and low quality dull and tips. Average prices per 100 pounds by quality snd spproximate ranges on bulk of sales ollow fair 40.00 | around 250 pounds and | ? Commodity Price ChangesinWeek By the Associated Press. NEW YORK, June 1—Advances in non-ferrous metals and selected | table food items outweighed declines in cotton and most grains in cash | commodity markets this week, and the Associated Press average of 35 weighted spot wholesale staple prices turned upward for the first time since the German invasion of Lowland Countries and France. The index, with 1926 as 100, rose to 7169 from 7158 last week, and compared with 66.95 a year ago. Markups in cash copper accom- | panied reports Great Britain and France were inquiring for new sup- ! plies here. Cash zinc moved up- ward, too. in part because the inva- sion of Belgium has cut off the Allies from large zinc sources in that country. Tin, a metal the United States obtains wholly from foreign producers, also advanced. Cash rubber, another commodity | this country gets from foreign sources, principally British and A rise was i recorded also in lumber. On the other hand, cement. tur- pentine and linseed oil were cheaper. U. \ Cotton fell back in the cash mar- tk“' along with wheat, corn and rye, although oats rose a shade. Cash | wool tended higher, while silk de- ! elined. Among table food items, cocoa, | coffee and flour advanced. but less expensive were eggs and lard. Lambs rose in livestock markets. Marked down, ,and hogs. The commodity price index, with its components, compared as fol- Wecek: Previous Year M commodities Livestock | Grains and cotton | Textile Non-ferrous metal ; |Commodity Prices 28.00 19.00 11 24.00 ged 1650 Low (dark green) 600 Nondeurlnl Low (green) 450 cco of Thin te Medium Body. $40.00 $40.00. 39.00 i ‘air z Fair (med. green) Low Stemming seconds— Choi Pint Good T 28,00 Granulating’ seconds— Go d 20.00 Fair (red) 138 T (re Low z & * Ranges quoted do not represent ex- treme price range in each quality. but only ulk of sales. (Approximaiely two- hirds ot fatal) " |Metal Murket YORK. June 1 (#) aiComper mlndv: ‘ NEW electrolytic spot, Connecticut Vi export,” f.a.s, New York, 11 steadv: spot and nuruy 55. B New York. 4.85. Zinc pot and forward, umminum: *ancimony. | plamum: Chiese wolframite | ic scheelite unchanged. \\\l|ll|||||||||l|ll||l||ll||lI|lIIIlIIIlI|IIIIlIIIl|III|II|HIHIIlIIIlII|||IlIIlII|lII|lIIIlII|IIl|lIlI//, Satardays 9 to 12 §\\IlIlIllIlIIlllIlllllllllllllllllll"llIIIllllllllllllllllllllllIHIIIIIIIIIIIIIIIIlMllIIIIIIIIIIIII/ Office Hours 9 to 4— Many savers have accumulated substemtial balances by regular additions to their share accounts with us. Concult any of owr officers for information. Neo obligation, of course, AMBRICAN BUILDING ASSOCIATION 300 PENNSYLVANIA AVENUE S.E. Alfl" LY lluI.. Vieo-President Assets are now in excess of $12,600,000.00 IlllIIIIIIIlIIIIIlllIIIIIIIIIIlIIlIIlIIlIIlIIlIIIlIIIlIIIlIIIlIIl\\ 4 REAL ESTATE LOANS ET us handle your real estate and home loan financing. Applications considered on improved property, not only in Washington but in nearby Maryland and Virginia. There are no commissions or renewal charges. Interest only on unpaid balance of principal monthly. |iLTen u. Prese o-n-n Beerd JOMN € MERONER 3 W. KiN President (s LINCOLN 0130 DIRECTORS: Zmnmmimmmmmm NEW YORK. June 1-—The Associated Press weighted whoiesale price index of 35_commodities today advanced to 7 Previous day. 71.69: week ago month ago, 7 year ago. 66.K 1938 High Low Miscellaneous Markets. Additional New York markets as com- piled by the Assoclated Pres RIDES “Futures closed _14-18 lower " Bepiember, 1.8k, Decermber. 10 Spot No. 1 Western light native cows, 93.n. CRUDE RUBBER—Futures closed 40-115 Sales. No. 1 standard. 190 con- July. 31.50-52 September. 19 40- December, 18, Smoked ribbed spot, 00n, LEAD—Putures closed 12 higher, = Salcs | 60.000 pounds ber. 5.00n. o TRIck i Dinc A straits. th futures WOOL TOPS—Futures gained 10 to 11 Sales were estimated at abol July’ 89.6: October, Spot. standard tops. 85.0; n Nomint points 400.000 pounds. December, 87 1 up 1.0. 'bBid. greatly expanded in a year. 5% 51% 6% Payments include in- terest, and curtai No renewals. . . . No commission. . . Sound, fair apprflil- als. | FINANCIAL. Smoked Pork Bought For Federal Relief By the Associated Press. ‘The Federal Surplus Commodmes Corp. announced yesterday the pur- chase of 10,000,000 pounds of smoked pork products for direct relief dis- tribution. ‘This brings the total purchases to approximately 100,000,000 pounds, including lard and salt pork, since last December. The corporation also announced | that it had asked packers and other distributors to submit new offers on all three types of these products. | Officials indicated that upwards | of 50,000,000 pounds additional may | be bought if prices are acceptable. Foreign Exchange NEW YORK. June 1 (#.—The pound sterling declined today nearly as fast a5 it advanced Friday. he British curréncy lost 2% cents in | relation to the dollar after rising 4 cents | vesterday. The French franc dipped .01 of a cent. An advance of % cent in the Canadi dollar left the unit at 78's United 8t cents. even with the level of & week The Bwiss franc fluctuated vioientl comparison with its usual staid course. Off a5 much a3 Oia of a cent at one time. the 1 nded 0215 of & cent lower. Closing rates: follow (Great Britain in | in cents): anadian control board rates for United States doljars. Buyiny 10 per cent premium, selling 11 per cent premium, equivalent to_ discounts on Canadian dol- lars in New York of buying 9.91 per cent selling 9.09 per cent. Canadian “dollars in New York market 21% per cent discount, or Uhited States cents Europe-— Britain. G0-day 3.1K; open N5 demand cables | day B *n (benevolent) 18.00, Greece 6113, Hungary 17.65n. Ttaly 5.05. Netherlands unquoted. rway_unguoted, Portugal 10, Rumania A s weds Wiczerlang 24 40, Fufostavia Latin Am Argentina Brazil ic official official 6.05, 29.77, free free 5.10; 50: | ico 4%, Hongkong 20.30. Shangha | Rates in spot Clhl’l unless otherwise | indicated. p—Nominal) | ‘Chicago Produce | trg firsts. local. 163 16: | 2 CHICAGO. June 1 (P _—Butter. LK4.- | steady. ery. 8 score. 24. KR, ' 4: ‘other prices nnchanged Eggs. 34448 weak: fresh graded. ex- cars, 16: firsts, local, t receipts. 1:t': a: storage packed shipments. 1.0 fiberal demand fair at lower prices: er sncked per cwt. California long white. | washed. U. 8 1. under Initial ice. ventilation 0-60 . _Kize . Bliss | few sales. washed S 1 size B. washed. 143 wing_heated. fair condition. Sla ‘Wlock —supplies 1ight: slightly _weaker: sacked Dper Corporation Earnings NEW YORK 1 P —Corporate earnings reports issued during the week showing profits per common share included: | Quarter Ended April 30. 1940 $1.86 June 1030, Roval Typewriter $169 Waukesha Motor 2, Quarter, Ended March American” Export Lines American Safety Razo 5 nthe Ended Avril, 'u\ Commercial. Credit " Co 13 Weeks Ended Fel Warner Bros. Pictares & Months Ended A Brown_Shoe Florghetm Shoe Leather . Year Ended March 31. Tod¢ Shiprards $4.0 on Class “A” shares. U. S. Treasury Notes NEW YORK. June 1 (# —Prices in dollars and thirty-seconds. Mo, unie Dec. Year however, were cattle ‘4" Lune Mas. Sept., Drc Jun ) By the Associated Press. Great Britain's shoe industry hlsI The Securities Commission reported ves- terday these transactions by —customers | With"oddrlot. dealers. or sbecialists on the New York Stock Exchange for May 3,554 purchases. involving 2; 2.535 sales, involving 6 ding 56 short for construction loans and term loans from 3 to 5 years in D. C and nearby Virginia and Maryland. REAL ESTATE MORTGAGE AND GUARANTY CORP. 1610 K St. N.W. NAtional 1403 Money for Construction Loans and Loans on Completed Properties (Owner occupted or rental) Favorable Rate FIRS1 OEED OF TRUS1 ONLY GEORGE i, BOAGER g YRUST *LOAN R Omotioan Company 807154 STAW. NAuonsi 8032 PLANOGRAPH Black and white or color phote offset! or Tor " EsTIMATES] GOLUHBM PLANOGRAPH 52 L Street N.E Notice of Redemption of CHEVY CHASE CLUB | First Morteage Four and One-Quarter Per Cent Bord, NOTICE 15 HEREBY GIVEN that pur- suant to (he provisions of an Indenture dated January 1 1937, between Chevy Chase ‘Club and National | Trust Company, Trustee. and American | ecurity” and Trust Company. Registrar. under which the above bonds were issued. Chevy Chase Club has elected to exercise Savings and its option to and will pay and redeem all of its outstanding First Mortgage Four and One-quarter Per Cent Bonds. due January 1. 1957, issued under said Indenture, viz principal amount 1. 1940 at the | Feademption arice ‘ot 1047, ot the princiual thereof, together with the accrued interest thereon to said redemption date. Accordingly. upon surrender to the sald Registrar. American Security and Trust Company’ at its principal office. 15th Street and Pennsylvania Avenue N.W. Washing- ton D of the aforesaid bonds calied for redemption as aforesaid. together with all unmatured coupons appertaining theret the principal amount of said bonds. w the premium of 47; brovided in said In- denture will be paid on July 1, 1940, and the ‘interest pavable on July 1, 1940. on safa ‘Bonds wii be patd to he holders of the coupons appertaining maturing on such date become Aue and payable on July 1. at the place and at the redemption p above provided. and from and after Ji . 1940 will cease to draw interest, a the counons maturing subsequently to said date will be void Registered bonds must be accompanied by duly executed instruments of assi ment and transfer Dated May 31. 1940 CHEVY CHASE € Thomas Dunlop, h By G That Need Never Be Renewed and— @ That cost less That cover both con- struction and perma- nent financing. That require only one payment each month, including principal, in- terest. taxes and in- surance. That require no sub- scription to shares. Write, phone or call for booklet, “A Debt-Free Home for Every Ameri- DIstrict 2340 HRST FEDERAL $AvVINGS anD Loan association Conveniently Located: 610 13th St. N.-W.(Bet. F & G, (No Branch Offices) Unlimited Funds Available for REAL ESTATE Millions of dollars in Perpetual loans have secured thousands of homes in 59 years, largest Building Association. Loans on improved or to be improved property in the District of Co- lumbia and nearby Maryland and Virginia. AS through Washington's PAYMENTS LOW AS §750 PER MONTH L PERPETIfiy 11TH & E STREETS, N.W. R $1000 ® ESTABLISHED 1881 Laigest in Washington—Assets Over $50,000,000 ARTHUR G. BISHOP Chairman of the Beard EDWARD C. BALTZ Secretary MARVIN A. CUSTIS President