Evening Star Newspaper, January 12, 1942, Page 16

FINANCIAL. FINANCIAL. Selected Stocks Up . |In Irregular and = Narrow Market Steel, Rail, Specialty Issues Score Gains; Many Others Sag By VICTOR EUBANK, Associated Press Pinancial Writer. NEW YORK, Jan. 12—Buyers shopped for steels, rails and assorted specialties in today’s stock market, leaving many leaders to shift for themselves at narrowly irregular levels. Selective recovery tendencies crept into the list after a ragged start and, at the best, gains for favorites ranged from fractions to a point or s0, with a few up 2 to 3. Quota- tions were under their peaks in most cases at the close and minus marks were plentiful. It was one of the slowest full sessions since the latter part of last October, transfers approximating 500,000 shares. Stimulation from the spot news was sparse, brokers said, and credit for the selective come-back was largely attributed to the belief that last week’s retreat had put the averages in a ‘“healthier” position technically. Timidity of bidders in the ma- | jority of instances, however, was considered none too cheerful. This was blamed to some degree on con- fusing bulletins from Far Eastern % | battle fronts, although further op- timistic reports of the Nazi back- |shde in Russia provided encourage= | ment for speculative and invest- | ment circles. Tax doubts continued to keep a lot of customers in the do-nothing class. Steels were propped by an esti- mated upswing of 1.4 points in this week’'s mill operations, a wider bulge than most had expected. Prominent stocks in the forward column were United States Steel, i Bethlehem, Youngstown Sheet, | Santa Fe, Union Pacific, Southern Great Northern, Omnibus Corp.. N. Y. C. Omnibus, American | Telephone, Sears Roebuck and Coca~ %4 | Cola TEE EVENING STAR,” WASHINGTON, D. C, MONDAY, JANUARY 12, 1942. ;RANSACTIONS ON THE NEW YORK STOCK EXCHANGE tocks = (By Private Wire Direct to The Star.) Sales— Add Yule Savings Clubs Show Drop in Funds And Memberships Defense Bond Sales Cut 1942 Deposits, D. C. Bankers Assert By EDWARD C. STONE. Total number of members in the 1942 Christmas Savings Clubs oper- ated by about 20 Washington banks, as well as the total amount sub- scribed, will be considerably under the merr bership and deposits in the 1941 clubs, it was learned in the financial district today. The time for joining the new 1942 clubs ended Saturday after the books had been open since December 1. While no figures are yet avail- able a limited survey among the banks today indicated that in most Instances smaller amounts were sub- scribed during the six weeks than was the case a year ago. During the recent holiday season, Washington banks paid out nearly $5,500,000 to 70,000 club members. After the 1942 clubs were opened, memberships and funds ran about the same as last year for the first two or three weeks, in a few in- stances being ahead of 1941. This was considered rather remarkable as no special advertising was done to push club membership. Bankers believe the rush to buy United States Defense bonds and stamps caused the lag in interest in the Christmas clubs. Bond and stamp sales have gone up by leaps and bounds. However, Christmas club funds will be substantial and play an important part in holiday trade again this year, bankers as- serted today. For years Christmas clubs have ‘paid no interest and some banks apply a service charge if a member does not complete the year’s pay- ments. Bond Issues Rise in 1941. During the vear 1941, voters of the country authorized a total of $171,- 532,543 of new bond issues, as com- pared with the 1940 total of $155.- 869.558, according to the Daily Bond Buyer. During December, the voters of 75 communities in 21 States authorized a total of $14,406465, as compared ‘with only $9,421,589 in December, 1940. Only two items of major impor- tance were approved during Decem- ber: Birmingham, Ala., $4250,000, and Tulsa, Okla., $3,833,000. Chase Joins General Mills. ‘W. Howard Chase, associate editor ‘of the Whaley-Eaton News Service, handling foreign and domestic trends, has been appointed director of the public service department of General Mills, Inc., in Minneapolis, Chairman James F. Bell announced today. Prior to his connection with the Whaley-Eaton service, Mr. Chase served as assistant to the president of the American Retail Federation and for three years as editorial writer on the Des Moines Register and Tribune. At one time he was on the staff of Harvard and Drake Uni- versities as lecturer on international relations. Stock and Dividend Rate. 00 High Low Close Chll Davison C .60g. 10 10 10 Decca Rec .60a 8 8 Deere & Co 2g., 23 Deere&C pf1.4Q Del & Hudson . Del Lack & Wn_ Det Edisor. .35e Devoe&Reyn 1 Diam'd M 1.50g Dia’d M pf 1.50 Diam T Mot 1a Distill C-S h2.22 1Dixte-V A 2.50 Doehler Die 1a . Dome Mines h2_ Douglas Alr 58 Dressr M11.508 1 Du Pont 7g Du Pont pf 4.50 Duqu 1st ot 5 Eastn Alr Lines . Eastn Roll Mills Eastm'n Kod 68 Eaton Mfg 3 8tock and Dividend Rate, 00 m:h u' clnu Chse. Nat Lead .50a . 24 57 157 — 4 NatOfP195g. 1 83% asla 33% + % NatPwrgLight. 8 3 274 2% — % NatSteel3a .. 3 50% 50% 50% Nat Sup $2 pt 1 154 15% 15%— % NS5'apfR04g 2 59% 5T 574 —2% N Supbpf 9.758 10 67% 67% 67% —1% Nehi Corp .60a. 1 613 6lat % Newp's Ind 756 42 10% 10t Newpt NS 2508 2 24 24 - % NYArB.soe . 4 30% 30% + % NY Central ___. 47 9y 9% NY Chi&StLpf. 11 431 431 NY COmnib 2__ 39 15 15%+ " NYNH&Hr __ 19 L] = NYNH& Hpfr. 2 1 1 NY Shipbldg 35 3 28% 28% 28% + % Norf & Wn .10a. 2191 1891 189t —1 NoAmAvia2¢ . 4 1314 13 13 No Am Co 1.65g. 23 10 No Am 6% pt 3._. stock ana “Add Dividend Rata. 00 mn uv cu- Cuse. Warren Brr___ tWarBrevofr., 800 ZZ 21"’- 2!'/. + % Wash G L 1.50_. 1% 18 + % Wayne P 50e 12% 12% Wess O&S . 1915 19% Wes O&S pt 69 69 + % tWest PAEDI7_ 20104 104 104 +1 tWest PP pf4.50 30 113% 113 1131 Westn Auto 8 2. 4 14 U Westn Maryl' Westn Pac pf Western Un 2¢ . Wthse AB 1.758. Westinghse 5g _ Wheeling St 2g. ‘White M 1.25g . White Sew Ma White SMp!.50k Wilcox O&G __ a Chi & NW cv 4%s ¢9. Chi & NW 4%s 87 Chi & NW gen 5s 87 PRaRC&Irb6s73 Phila R C & Ir 65 49 Phillips Pet 1% 51 PCC&StL4%s77 Pitts C & Ir 4%s 52 Pittsburgh Steel 4%3 50. Pitts & W Va 443 58 A Pitts & W Va 4%5 59 B Pitts & W Va 413 60 C_. Portland Gen E 4%s 60_ Purity Baking 55 48._ Reading Jer C 45 51 Reading R 414597 A Republic Steel 4%s 61 Rio Gr Wcol 4549 A RIA&TI4%834 Rutland (Can) 48 49 _ Rutland RR 4%s 41 Saguenay Pw 473 66 . SILIMSR&G 4133_. StLP&NW6s48 Bt L Pub Sve 5s 59 5tLSanPras50 A St LSan Pr4%s 78 StLSan Pr5s50B StLEW 5552 8t L SW ref 5590 _. StPKSUL4%s41 Ban A & A Pass 45 43 _. Seaboard A L 45 50 stp_. Beaboard A Lref 4559 __ Seaboard A L con 65 45 _. Beaboard AL 6s 45 ct Seabd AL Fla 65 35 A ct. Shell Union O1l 2%s 54 Simmons Co 45 52 80 Colo Pwr 65 47 A £ Southern Pacific 3%s 45 Southn Pacific col 45 49 Southn Pac col 45 49 1g . Southn Pacific ref 45 55 Southn Pacific 68__ Southn Pacific 472s 69 _.. Southn Pacific 4123 81 . 8o Pacific Oreg 4323 77 Southerr Ratiway 48 56.. Southern Railway 5s 94 Soutnern Ry gen 65 56_. Southern Ry 6145 56 So Ry St L div4s 51 Stand OIl N J 2248 53 Ter RR As St L 45 53 Texas Corp 35 65 = Texas & Pacific 5579 C. Texas & Pacific 55 80 D Tex & Pac 1st 55 2000 __ Third Avenue 4s 60 ‘Third Avenue adj 5s 60 _. Union Elec Mo Union Pacific Unton Pacific Union Pacific 1st 4s 47 _ United Cgr W Strs 55 52 United Drug 5s U S Steel 1345 46 Utah L& T 55 44 _ Utah Power & L 55 44 Wabash 413 8 22% 287y 8% 4% 173 164 25' 2! :mn. lb‘fi 35% 20% 115 65% 15 11136 133% 1125% 125% 50114 114 1 24% 24% 2 2% 2% 3136 135 135 231 3t 1 14% 'l 223, 13 14 301 33% 30% 6% Stock and Dividend Rate. 00 fAbr&Straus %e. 30 Addressog’ph 1 1 Air Reduct'n 1a- 14 Alr-WayElec __ 3 Alasks Juneau.. 12 Al'g'y $30 pf ww Alleghany pf xw. Al't'y Lud 2.25¢. Allied Chem 6a . Allied Kid 18 All'd Mills 1.258. Allied Store. Allis-Ch 1.5¢ Amalg Leather._. Amerada 2 __ Am Bank N .10e Am Bosch Am Bra. 8 2.20s - tAm B 8 pt 5.25. b Am AmCanpf 7. AmCar& Ple_. AmC&Pof7__ AmCh&C 2% Am Chicle 4a __. Am Comel Alco Am Cryst 8 .50e Am Europ'n 408 Am & For Pw A&FP 6pf 1.50% A&FP 7pf 1758 Am&FP2dpt. Am-Hawa'n 5¢_. Am Hide & Lea _. Am Home 2.40a. Am Ice Amer Ice pt Am Locomotiv Am Loco pf 78 - AmMac &Fy .80. Am Ma & Met Am Metal 1.508 tAm News 1.80- 110 AmPw&Lt. . 7 AP&L $5pf 94k 3 AP&LS6 1125k 5 Am Radiator .60 13 Am Roll M1.40_ 19 tAm RM p 4.50 360 Am Saf Raz.50g 1 tAm Sh Bldg 2 100 Am Sm&R 3508 3 Am Steel F 2¢__ Am Stores 1 Am Stove 1.20__ Am Sug Ref 2e_. Am Bug Rpt 7 Am Sum Tob 1__ Am Tel & Tel 9 _ Am Tobac 4.508. Am Tob B 4.508. Am Type Found . Am Viscose 50e. Am Vicose pf 5_. Am Wat Works._. Am Woolen _ Am Wool pf 12§ Am Zino Am Zinc pr pf5k Anaconda 2.508 Arch-D-M 1.858 ArmourTu ____ Arm Il pr 1.50k Armst's C 2.258. Arnold Con 25e. Assoc DG 15t 6 Assoc Invest 2a_ tAssoc Inv pt 5. AtchT&SPle Atch T&SF pf 5. AtlCoastL1g _ 27 Atl Refining 1 AtlRefinpf4 __ Atlas Corp 508 - Atlas Corp pf 3 Austin Nichols__ tAustin NpfA__ Aviat'n Cp .15¢ 2 Baldwin Lo efs.. Balto & Ohlo_ Balto & Ohlo pf- Bangor & Art’k. tBangor & A pf. Barnsdall .60 _ Bayuk Cig 1.50.. Beech Nut P 4 Belding-H .80 _. Bendix Aviat 4g. Benefic L 1708 Best & Co 1.60a. Bath Stesl6e _ 60 Net High Low Close Chge. 43 42%, 43 + % Hn uu 36y 36 86 % 2iy 5% 5% 21 1421 141 T 107 13% 23 2874 9 8% =% %= 4% 2+ % 5% 5% + % 21 +% 141 Chi TH & 8 inc 65 60_. Chi Union Sta 3%s 63 Chi & W Ind ev 45 52_ Chi & W Ind 4Y%s €2 Childs & Co bs 43 Choc O Gen 5852 Cin Un Term 3%s 71 2%— % Ll 25 - 18% + W 815 25% + % 14% + % 3%+ ¥ 53 +1% 2 1% 5% + 5% « 22% + 2T% 2Th + Worthington P_. 19 18% 19 + tWright Aero 8¢ 10103 103 103 Yale& Tow.60a. 1 16% 161 16% + Yellow Trk1a._ 25 13 12% 127 tYellow Tpt 7. 30 IH L] 114“. 114% +l\ Young 8&W 1g_ T Yestwn S&T 3g u 'mu. 33‘. 36% +1l- YestS&Tp(550. 1 78 T8 18 +2 Yestn8D1.76a 3 11% 11% 11% + % Zenith Radlo1g. 2 9% 9% 9% Zonite .1. - 8 2K 2 2 Approximate Sales Today 11:00 AM__ 160,000 12:00 Noon.. 1:00 PM 20,000 2:00 PM__ Panbandle Total _ __. 490,000 Paramt Pic .90g. 25 5 3 tu hdlll D" "ll' dling l‘("‘ lm-res: fll.‘ Param 2d pf .60. 3 printed in full' T In bankruptcy of receiver- =hip or being reorganized under Bankruptcy Park UM 108 _ Act> or securities assumed by such com- Parke Davis.40e panies. Rates of dividend in the foregoing Parker Rust 1 fable are annual disbursements based on et Busts ihe st quarterly or semi-annusl declara- 2. lon o5y ‘otherwise moted. s o Penney (JC) 3a. extra dl\ld?nd! are not included. xd Ex ern R 2% dividend. xrEx Tighis. aAlso extra of N e the extras. d Cash or stock e Declared or paid Pere Marquette. 2 7 z tPere Mara pf _ 550 29 KaAc o0 far this !!IY f Payable in stock. tPere Mar pr pt 340 Bond Market Jast year ble” in Canadian fu Petrol Corp .45¢ By private wire direct to The Star. 1 4 3 80 2 8 5 COC&BtLdv4s90.__ Cleve El Illum 3s 70 Clev Short L 4148 61 Cleve Un Term 4%s 7" Cleve Un Term 65 73 Colo & Bouth 4145 80___ ColG & E 58 52 May .. Columbia G & E&5s 61._. Comel Mackay 69 w w. Comwith Ed 3%s 68 Cons Ed N Y 3%s 46 Consol O1l 3438 51. Consol Rys 45 54 Consol Rys 45 56 Consum Pwr 3%s 69 Cuba RR 55 52 Ctf Cuba RR 7%s 46 ctf, Curtis Pub Co 3 55 Dayton P & L 35 70 Del & Hud rf 45 43 Denver & R G con 45 30. Denver & R G 5s 65 Den &R G W 5s 55 assd. Den& RG W rf 55 78 Detroit Edison 3s 70 Det Edison 45 65 Dow Chem 2%s 50 Duquesne Lt 335 65 EIP & SW rf 55 65 Erie RR 15t 4595 B Erie RR gen 4135 2015 E Firestone T & R 35 61 _ Fla East Cst Ry 4145 59 Pla East Cst Ry 55 74 Francisco Sugar 6s 56 Goodrich 4Ys 58 Grt Nor Ry 3%s 67-. Grt Nor Ry 45 465G Grt Nor Ry 1st 448 61_. Grt Nor Ry 4125 76 Grt Nor Ry 4%3s 77-. Grt Nor Ry b5 73 Grt Nor Ry 5%s 52 Gulf M & O 1n 2015 A Housatonic 2n 55 37 Houston Oil 4135 54 _ Hudson Coal 58 62 A Hud & Man Inc 55 57 Hud & Man ref 55 57 0is Bell Tel 2%s 81_ il Cent 3135 52 Tilinois Central 45 52— Tllinois Central 45 53 Tiinots Central ref 45 35 Tllinois Central 4345 66 Tilinols Central ref 55 55 Ill Cent Omaha 3s 51 ICC&StLNO4%s63 N CChSILNOS5s63A. 1Ind Il & Towa 43 50 Inspiration Cop 1s 43 52. Int Grt Nor 1t 65 52 Int Hydro Elec 65 44 Int Paper 15t 53 47 | Int Paper ret 65 55._. Int Ry of CA 55 7: Int T & T 435 52 | Int T & T 55 55 Towa C 1st & ref 48 Jones & Laugh 3%s 61.. | Kansas City 8035 50 | Kansas City 8o rf 58 50... Kresge Found 3s 50 Laclede Gas 55 42 Laclede Gas 5%8 53— Laclede Gas 515 60 D__ Laclede Gas 6542 A DN R0 I DA NI D D 0 e 0 el 10 5l 6 W Willys-Overla: Willys-Over pf_. Wilson & Co " % Y ) % v 324 +114 llfi 126 125 + % 613 6078 61% + 14 161% 1613 161% + 1 3215 31% 328 2% 72 2%+ 20 22‘. ©Ohio Ol 50§ 27% Oliver Far 1g El Auto-Lite 3 Elec Boat .90g Elec Pwr & Lt EI P&L 6 pf . 5 tOmnibus pt 8_230 Otis Elev 1g. OtisSteel Ow-11l G 2 508 Pac Am Fish 1g. tPacCoasted pf_ PACG&E2 Pac Lighting 3. tPacT& T7 _. Pacific Tin 708 . Packard M .10g . Pan Am Air g _ Pan Am Pet .25g W 1037% 2 12% 234 121 “ 6% : ™% 204 5la = Erie RRDIA __ Evans Products Ex-Cell-O 2.60¢ - Pajardo Sug 2 - 13 Fed Min & 8 4 Pidelity P 1 60a. Firestone .25¢ Firestone T pt 6 Flintkote 1 Pollansbee Stl _ tFollansbee pf_ Food Ma 1.40a. Foster Wheeler_. Francisco Sug Fruehauf T1.40. Gair R pf 1.20 Gar WoodIn 40. Gen Am Inv.: Gen A Tr 3g Gen Bak 468 1Gen Bak pt 8_ Gen Cigar 1a Gen Elec .35¢ Gen Foods GenGas & ELA Gen Mills 4 Gen Mot 3.752 .. Gen Motor pt 5_ GenOutdoor 20e Gen Pr Ink .65 1Gen Print 1 pf6 Gen Ry Sig 1g Gen Realty&Ut _ Gen Refr 1.40g - Gen Shoe 25e 1Gen SCp! 1.508 Gen Teleph 1.60 Gen Tjre&R 1g - Gillette SR 45%. Gillette SR p2 5 Glidden 1508 _ Gobel Adolt GoodrichBF 2g_ Goody'r 1.37 Goodyear pt 5 — Gotham Silk H_. Graham-Paige - Granby C 602 _ 1 Grd Un war ctfs Granite City 358 Grt Nor pf 22 GiNorore ct 2 | Grt Wn Sug 2 tGIt W S pf 7_ Greyhound 1a Greyh'd pt 5. Grum'n A 1.5 | Guantan‘o sug . Gulf M & Ohto . G M&O pt 2 508 Harb-Wikr 1.50. Hayes M{gC _ | Hecker Pr 60 | Hercules P 3z Hershey Choc 3 Hershey cv pf4a Holland Fur 2a_ Holly Sug .25 _ Komestake 4.50_ Househ'd Fp! 5. Houston Oil Hudson & Man " 4 10213 105 8415 fd 23% 2% 20 S1'y 3y 44y 1% 264 9% 88 10 =% 250,000 380,000 647 913 B4y 891 8215 104 109% 105 641y 647 41 21 ava Accumulnled dividends paid or decla Phips Dge 1.508 Co67pt 3 Philip Mor 3a ... | Phillips Pet 24 18 Approximate Transactions Today. Domestic Bonds. 7,290,000 Foreign Bonds 330,000 U8 Gov't Bonds 0,000 TREASURY. High. Low. Close - 100.10 100.10 100.10 100.10 100.6 100.6 109.7 109.7 109 110, 109.29 109 - 110.19 11 110 110.22 110.22 11 3145 1043-45 104.14 104.11 104.14 NEW YORK CITY BONDS. 351930 - 10475 104% 104% FOIEIGN BONDS. High. ) A Pitts & W Va Plym Oil 1.2 Poor & CoB__ Postal Tel pt Pressed Stl Car-_. Procter & G Pub S NJ | PubSv NJ pt Puliman 1a _. Pure O1l .50g... Pure OUl B! 5_ Purity Bk 1.202. QuakerSO 1.25¢ Radio Corp .20e. { Radio cv pf3.50. Radio-Keith Or_ TRuil Sec 1Ll &% ]M‘ 101 101% 101% 101% 101% 1011, 391, 46k 424 434 445 - 5s39et _ Wabash 55 76 B Wabash 55 76 Betasd _ ‘Wabash 55 80 D ct asd Walworth 4s 55 Warner Bros 65 48 9513 | Motors,. utilities, rubbers, oils and | Warren Bros 0s 41 i ‘s | aircrafts held to a slim groove. Be- Wash Central 4548 ' k:' hind the greater part of the day N 3% 81| were Patino Mines, Allied Chemi- e MYEE T 100% 100% | €al. Eastman Kodak and United Aircraft. West Pac 5540 A 2613 . Bond Market Narrow. Western Pac 55 46 A asd. Sl e Bond traders focused attention on e e ol | a handful of issues affected by the Westinghse Elee 2%as 51 % 100% 101y | day’s news and let the balance of Wheeling Steel 3125 66__ 94% 94% | the list wander over a narrow Wilson & Co 4855 105'¢ 105% | regular range. Wis Cent 15t gn 45 49 40!y 404 | Liveliest issue was Third Avenue Wis Pub Serv 3'4s 71 1081, 108' 1084 | adjusted 5s of 1960, which advanced Yestwn S& T 3%s 60 10015 100’5 1004 | more than a point toward the end | Younsstown S & T 4s48. 101% 101!y 101} | of the session as talk was heard e | again of plans to raise local transit rates. I B et Low. Close. 6915 69‘1' 69% T0% | 9215 925 51% 51% | B8l 5T RTiy 194 19 201 241 591 601y 611y 61 9914 !!5‘- Argentine 4s 72 Feb. Argentine 4s 78 April. Argentine 415 45 Australia 4133 58 Australia 5s 55 Australia 53 57. Belgium 7s 55 Brazil 6145 192, Brazil 625 1 Brazil CRy Bl 75 52 Brazil 85 41 Brisbane 53 57 _ Buenos Aires 43 77. Buen Air 425 Aug 78_ Buen Air 4%,s Apr 76 Canada 2%s 45 =13 830 e D ~300 10 7 20 1 Rayonier pt 3 83 o | Republic Stl 2¢ | tRep Sticvpt 8 Reynolds Metals tRey M pf 5.50 401 70 100% 97y 69% 1004, | Richield Ruberoid * New Efficiency Records Set: By B. & 0. During Year | New York Cotfon By the Associated Press. By the Associated Press BALTIMORE, Jan. 12—The Bal-| NEW YORK. Jan. 12—Cotton timore & Ohio Railroad Co. said | advanced $2 a bale today. touching today that “new high records in op- the hl_ghest level in the closing erating efficiency” were made on the minutés of trading B. & O. in 1931. Strength in grain prices and con- o wESeni Safeway Strs 3a. | 1Sateway Sp5 Bt Joseph LA 2 . Savage A 3.31g. Schenley D 1g. Seab'd AirLr Seab'a Ol 1__ Seagrave Corp__ Sears Roeb 38 Servel Inc 1 Sharon St 7 Chile s 60 assd Chile 65 61 Jan assd PR AR Leh ValN Y 15t 4545 Leh Val N Y 4125 50 Leh Val RR 45 2003 std LV RR cn 4155 2003 std Leh V RR 55 2003 std. Lion Oil 4145 52 Long Isl ref 4s 49 Long Island rf 45 40 sta- Lorillard 7s 44 P Tk IS e 19 110 187 110 7 37 13% 3 mzr 164 160 + Chile 65 63 assd__ | Chile 7s 42 assd Chile Mtg Bk 6% 61 Colombia 35 70 Copenhagen 4%s 53 Copennagen 55 52 _ 361 + % 1031 +14 | gumq-— Investment Dealers to Meet. The Washington head office an- nounced today that leaders of the investment banking and securities business from every section of the ecountry will gather in New York ‘Thursday and Friday for the annual election of officers and governors of the National Association of Securi- ties Dealers, Inc. They will develop plans for active participation, in collaboration with other associations and organiza- tions of securities dealers and brokers, in the Defense bond sales program; also review the successful policing program pursued in 1941 and complete plans for its continua- tion in 1942. Meetings will be held in the Waldorf-Astoria Hotel. A chairman, two vice chairmen, a treasurer and the executive director ere to be elected for 1942. TInstitute Teachers Listed. Subjects to be offered during the | second semester of Washington | Chapter, American Institute of Banking, will include a course in | commercial law, conducted by Wil- bur M. Baughman of the Federal Trade Commission. Peyton A. Kerr, associate in economics at George Washington University, will conduct the class in ics, and George A. Eddy, msion of monetary research in the "Preasury Department, will be in- structor in money and banking. ‘There may be a course in banking fundamentals, as the unusual turn- over among bank employes has | indicated a need for this course. 'The semester opens next Monday. Parker on Airlines Board. John E. Parker, of Auchincloss, Parker & Redpath, Washington in- vestment firm and member of the New York Stock Exchange, has been elected a director of the North- west Airlines board of directors, it was announced today by Croil Hun- ter, president. He was elected at a meeting held in St. Paul. Mr. Parker has been very active in the brokerage and investment business for many years and is a member of severa! other corporation boards. Bond Sales Plan Adopted. ‘The Washington office of Carrier Corp., of Syracuse, an air-condi- tioning concern, has adopted a De- fense bond sales plan whereby em- ployes may have payments deducted from their pay every week or twice each month. A poll showed that a majority of the employes favored such a plan and are eager to buy bonds in this way. All the national banks in the United States, many trust companies and state banks will hold their an- nual meetings tomorrow for election of directors. Several Washington banks will also elect officers for the coming year. Traction Bonds in Demand. On the Washingion Stock Ex- change today two $1,000 transac- tions took place in Capital Traction 55, at 103%4, same as last week's close. Later, $500 moved at 103, the day’s final bid also being 103. Mergenthaler Linotype registered 28% bid and 291; asked, while 17 was offered for Capital Transit and 18 asked. No sales. Smith Barney & Co. announces that stabilization operations to facil- itate the offering of 11,030 shares of Philco Corp. common stock have been terminated. Money Market NEW YORK Jan, 12 (P.—Call money teady, 1 per cent prime commercial paper, per cent. Time loans steady: 60-90 da: a; 4-6 _months, 13 per cent kers' acceptances unchan; 80- per cent. nur months, -2 days, 1a-is er cent. 5-6 :.wn ths. 8s-.% per cent. ork Reserve Bank, iscount rate 1 per cent. tBon A B 2.508_15 Bond Strs 1.60a. Borden Co 1.40g Borg-Warn 2¢ _ Boston & Maine. Bower RB3 Bridgeport Br Briggs Mf 2.25¢. Bristol-M 2.40a._ Bklyn-Man Tr__ Brns-Blke 2.508 Bueyrus-E 1g. Budd Mfg _ tBudd Mfg of Budd Whl 1.05¢. Bullard C 2.50g - Bulova Wat Burl'n M Burl'n M pf? Burrs A M Byron Jack 1z __ 1Caro CI&0 5 Carpenter 2.508 Car'rs&G Case (J) Caterpillar T 2. Celanese 2 tCelanese prpf 7 1 tCelanese prp! 5 1Celanese 2dpt 7 Celotex Corp 18 Cent Agui 1.50a_ Cent RR NJ (1)~ Cent Violeta 1g Cerro de Pas le tCert'n-t'd P pf. Chesapeake Cr_ Ches & Ohio 3a_ Chi & Eastn Tl . ChiGrt Western_ ColGrt Wpf Chi Pn Tool .50e ChiPTevpl3_ ChiRI&P6B%pI r. {ChileCop 2.50% - Chrysler 6g CityI&F1.20 . 1CityI&P p16.50 City Stores ___. 10lev E I pf4.50. Clev Graph 25— Climax M 1.20a Coca-Cola 5z Colgate-P-P.5 Colo F& T 1 1Colo&So 1st pt_ 1Colo&So 2d pt_ Col B C (A) 2 Col BC (B) 2g.. Colu G&E .10g . ol GEE Dt A 6 1Col GEEpt 5__ Columbia Pie - Colum P pf 2.75. Columb C 4.70g- Comcl Credit 3__ Comcl Inv Tr 3 - Comcl Solv .55g- Comwl Ed 1.80_. Comwltn & So__ Comw&Sopf 3 Consol Alr 42 Cons Cgr 1.50¢. Cons Cop .758 - Consol Ed 1.80g- Consol EApf5 - Cons Film pf 18- ConsolOil .50 Con RR Cuba pf. Cons'd’t'n Coal . Containerl.50g. Contl Baking. ContlCan 2. Contl Diam'd 1_. Contl Ins 1.60 Contl Mot .10g* Contl Oil 1 Contl 5t1 2.508 . Copperweld .50 Copperw pf 2.50 1Corn Ex 2.40__1' Coty Inc .50%. Crane Co Cream of W1.60. Orosley C .30¢ - Crown C&S8 1g .. Crown Zell .25¢_ tCrown Z pf 5__ Crucible Stl 1 . Crucible StIpf 5. tCuba RR pf. Cuban-Am Sug-. Cudahy Packing CuneoPress 1.50. Curtis Publish __ fCurt P pf 758 Cutler-H 1.508-. 5. 5 tBush T Bldg pf.100 anZha 1 EYOYoy- O = 3 2 2 2 1 5 10 60 40 1 10 1 12 14 8 o o @ [ PPL-R- P P ASTO P = . EPYT= @3 B mamemSaS o S o LT =T T UTOT ) UV Py © oo AR D0 RS m 000 28, 254 % 10912 11014 28!; 282 414 424+ % 2% 75 +8 127 12% ~ Y% 17 1% Hudson & M pf_. Hudson Motor_. Hupp Motor Tliinois Central Iilinois Cent pt 11101sd lins 4 - Indap P&L 1.60_ | Indian Refining - tIngersol-R pf 6 Inland Stl4a __ Inspiration C1_ tinterch pf 6 __ Intrcontl R .40g. Intl Harv 2a _ Intl Harv pf Intl Hydr E A Intl Mercan M __ Intl Min&Chem - Intl Min&Ch pt Intl Nick Can 2 Intl Pa & Pw. IntIP&PpI5 Intl Ry Cen Am _ +Intl RCA pf 58 IntlSalt3g _ 1Intl Shoe .45e ImtiTel&T __ tInterst DS pt 7. | JarvisWB1.1258 Jewel Tea 2.40 Johns-Manv 3 tJohns-M p? 7 Jones&Laul 35% Jones&L pLA 5 Kalamaz Sto .60 Kans City So Kans C So pf 2g. Kayser J .75¢ Kelsey-H (A) 48 Kennecott 3.25¢ Kresge SS 1.208. Kress SH 1.60 Kroger Groc 2 LeeR&T .7oe . Leh Valiey Coal Leh Val Coal pi— Leh Valley RR. Lehman Co 1 Lerner Strs 2 Libb-O-F 3.508 - Lib McN&L.358 Lig & Myers 4a_. Ligg & My B4a_ Lima Loco 1a Lion Oll Refi Lockheed A 28 Loew’s, Ine 2, Lone Star C Long-Bell (A) Loose-Wiles 1a. Lorillard P 1.20_ Lou G&E A1.50_ Louis & N 7g M’And&For Mack Trucks 3g Macy RH 2 Magma C 2.508— Manat Sugar Marine M 10e _ 20 1091, 6 101 brm OB SeadEmmtin AT 0 O N T 50wy 0O O D O O 30 B0 O IS SO ED O et bk e 1O e D tMark SR pr pf 1:70 MarshallF 1.30- Mart'n Glenn 3g Martin-Parry . Mathieson 1.508 May Dep Str3 Maytag Copf3._ tMaytag 1st pf6. McCall Co 1.40_. McCrory Sts 1 McGraw E12a _ Mc Kess&R Melville Shoe 2a Mengel Co 508 Meng 5 pf 2.50 | Merch&M Tr 1g. 12 | Miami Cop 258 1T+ % Mid-Cont 1.15g- Midland St1 3g .- Minn-Hon R 2a_ Minn-Mo Imp Min-Mo pf6.50k. Mission Co K58 - Mo-Kans-Tex _. Mo-Kans-Tpf _ Monsanto Ch 3g. Montg W'd .50e_ B 2 BV 10 =™ e 10 00 08 S e O e O IO O O 8 4 Bl Mor & E 3.875.1:) Motor Prod 1 Mullr Brs 2.25: tMullins pf8.2 Mur'y Crp Nash-Kel 3758 NashC&StL 2§. Nat Acme 2 Au Ppf .60 Nat Biscult 1.60. Nat Can .258 - Nat CashReg 1a. Nat Cyl Gas .80 Nat Dairy .80__. Nat Dept Str. Nat Distillers 2 NatEnam?2.125¢. Nat Gyps 408 1091 93¢ 1584 4615 158! 110 1% |SoPorR S | SE Greyh'd 1.50 | Stokeiy Bros tSnaron S »f5_. Sharp & D .20g- 1Sheaffer P 2a Shell Un Oil 1g-. Simmons 2g Bkelly Oil 1508 Smith & Cor 28 Snider Pk 1 Socony-Vac .50 i 25e 8o CalEd 1 Spiegel Inc .1 Spiegel pt 4.50 Std Brands .40a 8td Gas & Elec | StdG&ESS pr pt Std G&ESTDr pf. Std Oil Calla__ Std Oil Ind 1a__ Std O NJ1a__. ‘sdoohlson rr't LS 4.258 s rling P 3.50. Stone & W .60g . Studebaker. SunOiila_____ 1Sun O pf A4.50. Sunshine Min 1_ Superheater 1a._ Super 0il .0! Superior Steel . Swift&Co 1.208. SwittIntl2____ Sym-Gould 18— Tenn Corp 1. | Texas Co 2a Tex Gult P.10g Tex GlfSulp 2: Tex P C&O .40a. Tex Pac LT .108 Tex & Pac Rwy_ Thatcher Mfg__ Third Avenue ‘Thompson Star_ Thomp-Star pf Tide W A Oil 18 ‘Timk-Det 4 Timk R B 508 . Transcontl&WA. Tran & W 1.50%. Tri-Continental. 1Tri-Contl pt 6 Truax-T 625 £20th Cent-Fox _ Twin City RT__ tTwCity R T pt Twn Coach .75g. Und-E-F 3.508... UnBaz&P1._. Un Carbide .75e. Un E M pf 4.50 tUnEIMopf5.. Union Oil Cal 1_ Union Pacifict Union Pac pf 4. Utd Aircraft 4% Utd Arcraft pt 5 Utd Air Lines _. 1Utd Bisc pf 5 Utd Carbon 3. United Corp_ United Corp pf_ United Drug . Utd Dyewood UL Dy bt 5.258- Utd Elec Coal _. United Pruit 4 _ Utd Gas Im .60 Utd M&M 758 . Utd Paperboard. US & For Secur_. US Freight 1. US Gypsm 2a_— US Ind Alco 1 US Leather US Leather A US Pipe&Fdy US Realty&Imp._ U'S Rubber 28 - US Rub istpf 8. U'S Smelt&R le US Stl Corp 48 - US Steelpf 7 1Univ Leaf T Vadsco Sales___ Vanadium 1.508 Van NorM 1.30g 1Van Ral 15t 7. Vick Chem 2a. Victor Ch 1.408- Va-CaroChp!1g. 1Va E1PW DI 6__ Va Ry pf 1.50_. Walgreen 1.60_.. Walker Hb4.. ® - [IRP SOV S Py = o @ PR O VTR =pe os- SUPRP A PRS- PO PR —— oS3 16 10 101‘/1 10 112% 2 134 14 70% 2 801 46 343 27100% 100% 100% — % 8 1015 10% 10% + 4% 100107 105 105 1117% 117% ll7’6+ 50 2 & 9 19% 1 10 51 50 112% 112% 112% + 2 40% 39% 39% =1% 1-24% 24% 24%+ % 1 24 10115 115 115 7 29% 1 17% 1 33% 1 4% 1 17% 26 5% 107% 13% 693, 801y 33% 40 5% 50% % 19 10% 24 29% 17% 33% 4% 17% b% 107% + % 112% 112% -2 F§ SELFES & FEFS + FHFF S + + 4444+ = 6% + 14 324 + % 8% 6913 — 14 13% T00% +1% 801 +1% 335 = % =2l 50% — % 19% + 10% + EEE ##S ‘J‘ifl“#‘-“- 24 —-% 29% 1% — % 33% 44 1% - % 5%+ % | Paulista Rw: | Alleg Corp in 55 50 Cordoba Prov 7s 42_ Denmark 5%s 55 Denmark 6s 42 Finland 65 45 Greek 6s 68 pt pd | Helsingfors 625 60 Kreug & Toll 55 59 ¢t Panama 34s 94 A st 42 Peru 1st 65 60__ Peru 2d 6s 61 Poland 4'%s 63 assd Poland 4735 68 assd Poland 8s 50 Porto Alegre T13s 66 Rio de Jan 6135 53 _ Rio Grand do Sul 85 46_. Sa0 Paulo C 8s 52 Sao Paulo State 63 85_ Sao Paulo State 7s 40_ Sao Paulo State 8s 50 Urug 3%-4-4%s adi 79_. Uruguay 4%-4s 7 13 24 60 26!y 561 58% DOMESTIC BOND3. Abitibi P&P 55 53 un std Alleg Corp 5s 44 mod 67 91 B8 Alleg Corp 55 50 mod . 62 Allied Stores 425 51____ 10314 Am & For Pwr 55 2030 Am 1G Chem 5'2s 49 Am Intl 535 49 Am Tel & Tel 35 56 Am Tel & Tal 3%s 61_ Am Water Works 63 75_. Anglo-Chil Nitr do 67 Armour (Del) 1st 4s 55_. Armour (Del) 45 57 AT&SFgen4s95 AT&SPe adj 45 95 std __ AT&SPTCSL4s58. Atlanta & Ch AL 55 44 Rtl Coast L 1st 45 52 Atl Coast L clt 45 52. Atl Coast L 4735 64 At] Coast L 55 45 Atl & Dan 1st 4s48_ Atl & Dan 2d 45 48_ B&O1st4548 _ B&OPLE&W Va4sbla B & O 8W 50s std” B & O Toledo 43 59 - Bang & Aroos cn 4s51__ Bang & Aroos cv 45 51 st Bang & Aroos 5s 43 Beech Creek 3%s 5. Bell Tel Pa 55 48 B_. Bell Tel Pa 55 60 C Beneficial Loan Beth Steel 35 60 _ Beth Steel 3% Boston & Main Boston & Maine 418 7 1011 Burl CR& N5s 34 Bush Term cn 53 55 Bush Term Bldz 5s 60 Canadian N R 4%s 51 Can N R 55 69 October. Can Pac db 4s perp... Can Pac 4%s 60 Can Pac 5s 44 Can Pac 55 54 _ Celanese Corp 38 Celotex 4145 47 W W. Cent Ga cn 55 45 Cent N J gen 55 87 Cent N J gn b5 87 res._. Cent N Y Pw 3%s 62 Cent Pacific 1st rf 4849 Cent Pac 15t 45 49 Teg Cent Pacific 55 60 Certainteed deb 5%s 48 Cham P & P 4345 38-50_ Ches & O 3125 96 D Ches &0 3'%s 96 E_ Chicago & Alton 3s 49. Chi Burl & Quin 48 58 Chi Burl & Quin 4%s 77. ChiB&Qrigss71A. . ChiB & Q I div 3%s 49 Chi & Eastn Ill inc 97__ Chi Great West 4s 88___ Chi Gt West in 415 2038 CM&StPgn3%s89B Chik! & St Pgen 45 89_. ChiM&StP4%s89C.. CMA&StP4%s89R Chi M & Bt P 4%s Chi M1l & 8t Paul 58 75 C M & 8t P ad) 58 2000_. Chi & NW gen 3%s 87. Chi & NW gen #s 87____ Chi & NW 4148 2037. Chi & NW 4%s 2037C_ \ l!)'!"la 104% 4 100 5 Louisiana & Ark 55 69 Loutsville G & E 3%s 66 Loutsville & N 3%s 2003. Lou & N 1st 45 2003 Lou & Nash 415 2003. Lou & Nash 55 2003 Lou & Nash St L 35 80_ % LANAU&KCA4s55. Maine Cent RR 45 45 __ Maine Cent RR 4%4s 60 Manat| Sugar 45 57 Market St Ry 55 45__ Mich Central 4135 7! | MiINo 1st 42539 __ Mil Spa & NW 45 47 MStP&SSMen4s38. 53 625 9y 8 ™ 8 Missouri Pacific 43 75__. Missouri Pacifie 55 65 A Missouri Pacific 55 77 P Missouri Pacific 55 78 G Missouri Pacific 55 80 K. Missouri Pacific 5s 811.. Missouri Pacific 5125 49 . Mohawk & M 4s 91 Monong P 8 6s 65 Mont Pwr 3%866 __ Morris & Bs 345 2000 Morris & Es 4128 55 Morris & Es 55 55 Nashville C& L 45 78, Natl Dairy 3%,s 60_ National Distill 3%i Natfonal Steel 35 65 Natl Supply 3%s 54 New Eng T & T 58 52 New Jer P& L 435 60_. New Orl G N R 55 §: New Orl & N 4135 5 New Orl Ter 1st 4s New O T & M inc 55 85 NOT&MDbBs56C N Y Central 3%s 52 5% | N Y Central 3%s 46 N ¥ Central con 45 98__. N Y Central 41s 2013 A. N ¥ Central ref 55 2013 N Y C Lake Sh 3155 98__ N Y CLSh 3!as 08 reg_ N Y Chi &St L 3'28 47 N Y Chi & St L 415578 __ NYChi&StL5%sT4A NYChi&StL6s50 __ N Y Conn 1st 3135 65, N Y Doek 4551 N Y Edison 3%s 6 NYL& Wn 438 7 NYNH& H4s55_ 10314 6613 103 103% 661y 2% 108 129 97 101t NYNH&Hcv6s48. NYO&W gen 45 55. NYO&Wref4s02_ N Y Putnam 4s 93 N Y Steam 3%s 63 NYS&Wref5s37.. N Y S& W gen 5s 40. NYW&B4%s46 Niag Falls P 3% 66._. Norf & W 1st 45 96 1 North American 3%s 49_ North Am 3%s 54 North American 4s 59 Norn Pac gn 3s 2047 §n 382047 18- 45 Norn Pac 4%s 2047 Norn Pac 5s 2047 C. Norn Pac 58 2047 D. Norn Pac 65 2047 Ogden L C 45 48_ ©Ohio Edison 3%s 7 Ohlo Edison 4s 67 871y 87Y% 100 95 124 16 14% 1074 T2% 68% 54 | Otis Steel 4155 62 8115 | Pacific G & E 3%s 66. 102% | Pacific G & E 3%s 61. 10214 | PacG & E 4564 102% | Pacific Mo 1st 45 38 15 |PacT&Tr13%s66B . 81% | PacT& T 3%s 66 C_. 70% | Penn P & L 3%s 69 883 | Penn RR 3%s 7¢ 2714 | Penn RR 4Ys 81 507 49 75 624 65 20 11 {G‘- 111% 1041 391, 364 40% 671y 10419 10215 103% 103% 120% s 991 102% 102% 9% 91% 108% 108% 43% 434 43% | Peoria & B inc 45 90 433, | Pere Marquette 4s 56 247 | Phila B& W 4%s 81 D__ 108 15% 62% 63 108 108 Philadelphis Co 4%s 61_ 104 103% 103% “With December figures estimated, revenue tons were 985 per train, | compared with 942.16 for 1940 and | 868.55 for 1929, and car miles per | serviceable freight car day were 40, compared with 35.2 for 1940 and 329 for 1929." a company statement said. | | “Although revenue ton miles for 11941 at approximately 22525,000.000 were 2822 per cent higher than for 1940, they were 094 per cent lower than for 1929, showing that it was| | not volume of business that brought | about the 1941 record performances | mentioned. | “Locomotives and freight cars of | greater capacity played a part b; hauling heavier trains faster be. tween terminals, and shippers and receivers of freight contributed to the result by giving the best co-'| operation on record in loading cars | to capacity and loading and unload- | ing them promptly.” {Chicago Grain By the Associated Press. CHICAGO, Jan. 12.—Grain prices | took a sharp rise today on the strength of Senate action to lift| minimum ceilings applicable to agri culture commodities under the pend- ing price-control bill. Gains of 1 to more than 4 cents carried prices to topmost levels for almost five years in some cases. Oats | reached highs unequaled since 1928. 1‘ Traders said the principal brake | that checked the price upturn and | caused some profit taking at times | was uncertainty as to the definite | form in which price-control legisla- | tion will be passed and the possi- | bility of larger sales of private as well as Government stocks of old wheat and corn. Considerable Gov- ernment grain has been sold re- cently, reports indicated. A marked revival of buying in the | last half-hour lifted wheat to top levels since 1937, closing figures being 37.-43; higher than Saturday, May 1.33-13335, July 135-137%; corn 115-1 higher, May 87'g-}4, July 89; oags. 1'g-15g up, May 60-597 rye, 4'5-45g higher, May 85%-86; soybeans 6 higher. The advance in soybeans was the maximum per- mitted in' one session. 87V Ye i 90% .fis-.bfl!n it 1.001 101% .853-86 KRy Chicago Cash Market. No_wheat. _Corn, old, No. 843,-85: No. 2, R3%-84 d_76%: No. By the Associated Press. 15% Phila Elec 3%8 67— 109% 109% 109% l tinued trade buying. short covering and Wall Street support were re- sponsible for the sharp rise. Futures closed $1.75 to $2 a bale higher. Cottonseed Bleachable cottonseed 1105 lower. Sales. 51 n 15.85; May, 13 83b: July, 13.83. Phillips Petroleum To Build Pipeline Br the Associated Press NEW YORK, Jan. 12—Phillips Petroleum Co. today announced plans for constructing a natural gas pipeline about 900 miles long from the Texas Panhandle into Southern and Eastern Wisconsin, The concern’s subsidiary, Wiscon- sin Transmission Co.. has received |a conditional order from the Wis- consin Public Service Commission to build the line. which would supply gas to 10 public utility companies [opera(mg 15 distributing systems in the State. |Commodity Prices NEW YORK. Jan. 12 —The Associated Pri price index of dvanced to 96.68, new 10414 1933-38, 0814 4144 Hign Stock Averages Indus. Rafs. Ot vm Net change unc. 26 4 Today, close 54.2 Prev.day. . 542 263 Month ago. 543 265 Year ago _ 63.6 355 1941-2 high 639 355 1941-2 low_ 51.7 245 1940 high_. 742 406 1940 low... 523 309 164 16.1 138 17.6 19.0 134 205 : 130 370 60-Stock Range Since 1927: 1938-39. 1932 37. 1027-29. High ... 547 5.3 1577 Low 337 169 618 (Compiled by the Associatel Press.) Bond Averages 20 10 10 10 Rails. Indust. Util. Fen. Net change_ un 1 —2 —. Today. close 63.3 *102.6 100.3 43.8 Prev.day__. 63310271005 44.1 Month ago. 59.7103.6 99.6 Year ago __ 64110521013 1941-2 high 66.5105.4 102.2 1941-2 low. 5831026 989 1940 high__ 61.4 1059 100.7 Close ____113.0 Prev. day113.1 M'nth ago113.1 Year ago- 114.1 41-42 high 115.1 41-42 low. 112.1 1940 high 114.6 1940 low. 1084 * New 1941-2 low. (Comptled by the Associatel Press.) United States Treasury Position ‘The position of the Treasury January & m’ureulm corrupondm date year et & Lo 53 22 &' 2 3 i - Eh Ziok Do @S X 5 523025088 by s Sa3E3s e 3 ‘bvflfl 2“' 39; 22,034.008,013.17 | s 19 Prob2 2 NS 8 PRRSBIBST I 3 S BARBDS IS WD, BEES R 85 Sistammnieng