Arizona Republic from Phoenix, Arizona on February 20, 1941 · Page 41
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Arizona Republic from Phoenix, Arizona · Page 41

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Phoenix, Arizona
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Thursday, February 20, 1941
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Arizona Republic, Phoenix, Thursday Morning, February 20,1941 (Section Two) Page Frr* , , MARKET RESUMES DECLINE DESPITE GAIN IN COMMODITIES States flar Economy Move Studied Prices On Neu) YorJ? Exchange uu OT . ., , , , m E^ta. stMtara „„. „«,„„ „,.„ AlKiclated Pre .^ rilon , R(pubuc , MMd ^ rM: ^—Unit of tndlni 10 iharra. A Balrs In Hd». HiRh Low ClnM Republic mcual disbursement! bated on th* lilt quarterly » are nut Included. d;-C»«h or stock, e—Paid last year, f—Payable la k—Accumulated dividend paid or declared this this year in contrast commodities on the raw materials as - anrl silk were on HIP advance. under accumulation lents might he ingathering crisis in spotlighted by rein- 'of Singapore defenses " " ianese spokes- sessions of falling ill Street was calculation of Slates shift """^Twar economy would mean rSyrf WgHer taxes and restric- ffl w _.™oi business activities. srsnss- liver i government control "supply bottlenecks to 11BKU .J industry the right of ; tow attention to the grow**^ , A:~~. A** o»-r«c n^rtHim— C cfflwntration on arms produc- Tclmeniinent supervision, it was ' - jntrade reports, covered rice limita tion and ra ' ionin K [Am . nlv mostly on a voluntary I Am Tyne Fdrs f co-operation with produc-jAm Wat^vr Adams Exp .40* Addrcssng 3 Air Reduction la Alaska Juneau Vk ly Corp I Bales In Machine 6a 3 147" 37 -. IS A Allied Sirs Ds-o 2 345 144Ti I Int Harvester 1.60 I Int Mer Marine Int Amnl Leather Amerada Corp 2 Am Airlines le Am Bank Note Am Can 4 Am Car & Fdv Am Chi- Cable ,40g 1 Am Chicle Am Coml Alco Am Crystal Sug Am Encaus Tiling Am A- For Am&FP S6 Ami-FP S7 3 44"; 42 5 i 6* S3Vi 24 _ ISTi 3310 ?ig 3 94 1 1 SO 2 S 1 44* 40 64 83 23"i IS',. __ 309 309 28>,jlnt Tel & Tel 27 ! Inters! Dept Sirs .15g 5 3147 146H 1464 S 46<i 46H 46>? 44?ij 64 S3 24 Pow pf .30k pf .35k Am Hide & Leather Am Ice Am International Am Locomotive Am M «; Fdy -34g Am Metal Ug 5 xdl Lt 18 pf 17ik 6 Am Pow & AmPX-L S6 AmPi-L S5 pf 1.56k 11 Am Rad&stS .40e Am Roll Mill Vie 14 33« 354 24 3 4 IS 124 32'i 16H 94 14 94 14 354 Jewel Tea 2.40 3 Johns-Manville "if 3 K Kennecott Con 2^ Kresge (S S 1.20a 5 Kress (S H) 1.60 31 Kroger Grocer}' Vig 3 L, Lambert Co ?is 1 LJb-O-F Glass 4g 3 Libby. McNi-L 4e 199 2Vi l Liggett & Myers 4a 1 34 Liggett & My B 4a I 3 HI Lima Locomotive 3\ Link-Belt 1 124 Lion Oil Ref 3 Lockheed Airc 3Vie 22 - - - ... 19 Am Safety Razor .80 6 Am Seating Vie Am Smelt & R V-g Am Snuff Co 3a Am Stl Fdrs Vig Am Sugar Rcf 4g Am Tel & Tel 9 the huge defense order " shipbuilding in wththe ;, share prices •e marked down ._ list to more than a point ere U. S. Steel, Beth- Krwertinghouse, Du Pont • • Douglas Aircraft, United Boeing, Anaconda, Ken- Standard Oil of New fell 2, end. American Airlines lost ' Am Zinr L & S ' Anaconda 2e A P W Paper Arm III Arm 111 pr pf Armstrong Cork Vi Art loom Corp *iE Assd Dry Goods Atrh T & S F le Atch T & S F pf S All Cnast Line A1I Refining 1 Atlas Corp He Atlas Tack .15g Aviation Corp . antes pointed out numerous BCjjsMpresentative of the stable Imftt-iBKfag industries, including S Utilities, have fallen persist- rjnrecent weeks in the shadow ._ taxes and possibilities the JMt3 States might become more te>p]y .Involved in the world con- Hie Associated Press composite sice of 60 stocks finished at 39.9, taost duplicating the 1941 bottom iade last week, which was the iwattince the collapse of France i Jane, 1940. Transactions in- reasedto 465,430 shares from 320,50 yesterday. Chicago wheat rallied H to >• t a cent a bushel. Corn rose 1 to H. New York cotton futures ended i) to 40 cents a bale higher. Cor- orate bonds trailed stocks on the (dine. In the curb exchange, losses of Actions to more than a point ap- «ared in Aluminum of America, Dierican Gas and Electric, Le taneau, New Jersey Zinc and ierwin-Williams. Montgomery lard A broke 9 to 156 on a small mover. Curb volume expanded to 105,000 tares compared with 93,000 the •cviODZ day. Whit Stock! Did Wednesday Tuesday kUnet feal issues * 3M1 hlgta $6 461 193 740 228 162 IS5 194 661 106 Anodated Press Averages tanpUed by the Associated Press 30 15 15 fiO iBitui lUiln Wil Stork* D.4 D.2 D.2 D.3 56.3 15.5 32.6 39.9 S6.5 35.7 32.8 40.2 61.3 37.5 35.2 43.7 73.8 36.9 39.4 50.3 63.9 17.7 35.5 45.0 53S 35.4 32.6 39.8 74.2 20.5 40.6 52.2 52.3 33.0 30.9 37.0 1938-39 1932-37 1927-29 fctttSO arigo a® 54.7 33.7 75.3 16.9 Avences 157.7 61.8 Net Own Hllh tow Clow Chen. Ml 13B.55 318.71 317.43 117.94 11.04 ' 26 ' 6S UUH 16.96 36.98 . - - tO.19 . . 38.78 3R.S1 W.19 40.06 40.17 39.74 39.91 T0.34 railroad! S9.56 T0.2S S4.34 tO.23 4S.5.1 tO.44 308.74 tO.27 306.61 tO.19 _ stock! used in averages: Today Tuesday Monday 58.500 43,900 49.SOO 30.600 21.400 22.500 51.900 34,800 37,900 111,000 80,300 90.200 -_«t«>i«8ja statistics 0936 Average Equals 300) 20 Intl. Ralli ST m 29.9 31.1 30.6 27.3 in Rails 61.3t 61.7 64.7 57.7 65.4 61.6 £2.4 ImU. •S9.7f Holiday 90.5 67.4 2(1 lllln 49.5 50.1 55.2 70.0 55.9 50.1 an till. 100.7 100.8 101.2 101.6 101.5 100.6 Storks 39% 334 64 124 6 1 7% K 1 10 3 33V 4 13 1SS 3 6S'i S 54 33 5', ? !S 16H 16H Loew's Inc 2 24 24 Loft Inc "Se 39 \ 50 39'.. 324 6 11 '4 3SH 50 21 13 324 5\ 3SH 6R' 35S\ 68 Vi 291 44 fi 21 K 62\ 14»i 21 \ fiS 64 33. SS 22'i 3H 44 51 204 62 14 20% Bald Loco ct Bait & Ohio Bait & Ohio pf Barber Asph Vie Barnsdall Oil .151 Bath Ir Wks «ie Bavuk Cigar 14 Bclding Hem .80 Bendix Aviat Ig Benef Ind Ln 3.85e Beth Steel 3'ig Beth Steel pf 7 Bigelow Sanf 3g Blaw Knox U e Boeing Airplane Bonn Al & Brass Vig 2 2 Borden Co .30c - ' Borg Warner .40g Bridgeport Brass lie BrigEs Mfg 2We Bklyn Man Tr Bklyn U" Gas Brunswick Balke Vjg Buryrus Erie .35E Budd Mfg •-Budd Mfg pf Budf Wheel .20g Bullard Co 4g Burling Mills 1 Burr Add Mach .15g Butler Bros .15g 14 K '•\ 49 S 30 in 35 17 9 5 5 17 15 44 2 122Vi 122 1 25 2S 6 7»i 74 13'i •>7U 39 " •--" 30 204 141 3U 4H SVi 3.14 194 74 »i 44 51 **lii 44 5M, 21'; 62'i 144 20". I* 3V 284 74 »i 322 25 34* Butte Co Byersi ( op Ail) & Zinc Co 6 8 6 8 K 6 E 5 9 .30 3 S 30 2 1SN 204 3% 53 134 20 5? H 20 9H 3H b2 364 364 1 7 11 Calif Packing 1 Callahan Z-Lcad Calumet & Hec le _ Campbell Wyant .35g 1 Can Drv G Ale .60 • Canad Pacific Case UI> Co 3e Caterpil Tractor 2 Celancse Corp IVie Cciro de Pas 3g Certain-toed Prod Ches & Ohio 3 Chi Pneu Tool 5 2 7 5 2 15 Chickasha Cot Oil Vie 1 Childs Co 3 rChile Cop 4 .10 Chrysler Corp IVijr 44 Clark Equipment 4ig 2 ipment ^ ilvb 1.20: Oimax Molyb 1.20a 2 Coca-Cola 5e Colgate-Palm-P 3 ,ia Colfms & Aik 2V»£ Colum Br'c .45g Colum G & El .10s Colum Carbon IE Coml Credit 3 Coml Invest Tr 4 Coml Solvents Vie Com'wlth & South Com & South pf 3 Com'wlth Edis 1.80 Congoleum-Nairn 1 Consol Aircr 3e Conso! Clear Hie Cons Coppennln 4e Cons Edison 2 Cons Edison pf B 17M, 5T« 114 13^ 44 m 274 3T« 39 Vi 30 24 64 Vi 27 Vi 874 3% 4« 29H 35 Vi 84 3V 17H _ _ 11V. 4'i 3S 7-i 17H 54 BCT1XG PRICES Poultry Hens white 2Vi to 3 Ibs. Hens white over SVi Ibs. Hens colored 3' 3 to 4H Ibs. Hens colored 4Vj to 5Vi Ibs. Broilers. 1 to Hi Ibs. Fryers, white l«i to 2'i Ibs. Fo-ers, white IVi to 1 s * Ibs. l"r>ers, colored IVi to 2 Ibs. Fryers, colored 2 to 2b Ibs. Fryers, colored 2H to 3 Ibs. Roasters colt-bone 3 Ibs. and over Stacs Canons Guineas, young Ducks, white Pekin young. 4V) Ibs. and up Ducklings, all others Geese, young Scuabs over 1 Ib. each Turkeys prime No. 1 tome Turkevs prime No. 1 hen* Turkeys, prime No. 2 toms Turkeys, prime No. 2 hens Rabbits, young 2 to 3<i Ibs. Rabbits, young 3 S » to 4Vi Ibs. Rabbits, old E»l . 1 large while No. 1 medium No. 1 small white No. 1 large colored So, 1 medium colored No. 1 small colored 43 V> 22 27 3«i 39 27 3H 394 30 30* 24 64 87 33«i 24 S as4 29 Vi 35 S 49'i 28 Vi 17V4 87 m ^ 761 29 Vi 35 SS, 38 3 H 2 3 2 13V4 2 7>i 3 \ 6 36*i 29 3 21 38Vi 2 344 3 444 Cntv Inc 4e 6 4 Crane Co .SOe ,,6 35?i CTOVVTI Cork t S Vie 4 23Vi Crown Zellerbach Vig 5 13 tCrown Zeller pf 5 .40 S7H Crucible Steel 30 3,_ Cuban-Am Sugar 6 Cuneo Press 34 1 Consol Oil Vig Consol RR Cuba pi Consol'n Coal Container Corp *g Cont Bak A Cont Bak B Cont Can 2e Cont Ins 1.60a Cont Motors Cnnt Oil Del 1 CojiDCrwcld SU -20g Corn Products 3 50 2S«i =3- 224 %* 12'i 12Vi 12Vi STi 5'i 5"i _ 214 20» 20Ti 3 106 U 106 106 5H 54 Ti Ti •--- 134 Curtis Curtis Publishg Pub pr Curtiss-Wright 4e Curtlss-Wr A 2 Cutler-Hammer .35g Deere & Co IVie Del & Hudson Del Lack & West Detroit Edisnn 2g P'« 3?, 22 Itt 33 S 25«i 17« 7H % 36* 35H 2» 17 H 34'i 44 U 3T4 35 22 *i 32H 87 3SH 3H 22 3H 32H 25 3714 86% 35% 2T4 17 S 14'i 444 15% 22% 33 87 37 2!* 37% 39 9V 38% 9 38H -j-5 Diamond Match %g <b ' a Dist Corp-Seag M.22 m 4 Douglas Aircraft 5e o-'c i Dow Chem 3 5 37 3 1074 3074* 1074 2 27 27 27 Sfi.2 75.7 r>n Rnndft 83.9T 84.1 K5.4 82.2 85.9 84.1 ! Dresser Mfg 2e a wm Build au Pont N lilt 13 142 E 634 64 322 122 17V4 340 Eastern Air L El Auto-Lite 3 Elec Boat .80e El Power & Lt 30 25% 25 9 31 8 El Tow & L S7 pf .35e 14 El Storage Bat 2 4 El Paso Nat Gas 2 2 Endicott-John 3 £ Enc Pun Service 5 Eric R R * Erie 1 nf J Evans Products » Exchange Buffet 2 32% 3 '4 24 Vi 28 31% 264 39 % 4% 3 ' 17H 3VJ 3Vi 23V4 244 TTU 28 .114 264 31H 39 Vs 3D'i 4% 4% SH Vi 5% . _., Feb. 19- R. Hook, president Rolling Mill Com- J today plans to "«W 55,000,000 blast furnace Uy capacity of 1,000 tons n at the concern's Ashplant. going ahead at this time co-operate.with the na- program," said Hook. —o i Fed Mot Truck 1 Firestone T & RJ4K i First Nat Sirs 24 2 Flintkote le Food Machinery 1.60e 3 Foster Wheeler Anc? Steel ip Set Mark •RK, Feb. 19—(AP)— tic consumption of scrap reached the of 4.278,000 gross tons 1,000 tons above the K in October, 1940. the Scrap Iron and Steel This compared with , j in December and Lf year ago. ri T na?ely nalf the ECra P i^T^uary was supplied by 5h,r°i a S uire .d it from man, railroads, demoli- peddler collec- wrecking opera- other half, "home" produced by steel mills «s to their manufactur- ions. Market YORK Teb. 39—(AP! 3 16H 39 32 TS 2 13% 27S 13H rosier v» ii«w=t — ..rr" -« tFoster Wheeler pf .10 105 305 16H 384 12'i 13T4 105 .15e 3e Gabriel Co A Am Invest Am Tr;ns Baking .60 Gen Bronze Gen Cable Gon Clear 1 »Gcn Cigar pf 7 Gen Elec l.Roe Gen Foods 2 Gen G A- El A Gen Motors IK Gen Out Advert Gen Ry Signal H« Gen Thea Bq .85e Gen T & Rub V4K Gilletc Saf R Gimbel Bros Gliddcn Co 3e G 3 2 3 fi xd2 IVi 4Vi 50 6H 4V4 4Vi 3V4 44 494 4 44 IVi 4V4 50 6% 4'i 12SH 325 M, 325 Vi Goebcl Brew .20 " Goodrich B F Goodrich B F Goodyear T & 21 3a oo 57 5 5 9 1 5 34 33 4 32 12 30* §3 59 V4 3-4 12 1314 SVi IS 2Vi 11% 59 Vi 40 32 11S lO^i 3Vi> SVi 13 2 32Vi 59'_ 37V(. - 2 1 1 20 R 107 3 6 S M 2 2 10 11 9 4 2 Lone Star Cem 3a Loose-WU Bisc Vig Lorillard (Pj MacA & Forbes 2a Mack Trucks 14e Mary (R H) 2 Marine Midi .10g Marshall Field .40 Martin O L Co 2e Martin Parry Masonite Corp 1 Mathicsqn Alk 14 t.Mathleson Alk pt 7 . May Dcpt Stores 3 Mclntyre Pore h2.22a 2 MrKcss & Rob 21 McKess & Rob pi 3 Mengel Co 1 Mesta Machine Hg 1 Miami Copper .45e II Min-Cont Pet .SOe 1 Midland SU Prod 4g 2 Minn-Honey Reg 2a 1 Minn-Moline 2 Mission Corp Vie 3 Mo-Kan-Texas 1 Mo-Kan-Texas pf 1 Mohawk Carpet Vic 2 Monsanto Cnem 3e 2 Montcom Ward 4g 20 Motor Products le 1 24* 31'.i »* O 54 39Ti 56 Vi § 2 23 25 Vi 12 35 Vi SH SS 90 23 Vi 34 9* 21 S 35 'i 36 si 34 1SH 29 26 23 S 26T, 5Vi 39 74 554 234 11 §?* *J 5H 56 Vi 314 31V4 22\ 23 22«i -•25 Vi SS 90 20 H, 30 ?i 14 SV, 2SH 5 254 10 174 484 31 34 244 3Vi 29 17T4 29 25 >i 234 4H 13 '4 234 25 25 U 254 174 174 i?» *» 3Vi 24V,, 22H 25U 32 35 5 88 90 is* 20% 30'/, 354 36H 14 17T4 29 23 "4 SVi 31 3 24 29* 13% 30'i 41V 3Vi 41 H 34 94 8V 15 77 35 3Vi 29 131, SOU 41»» 34 94 ift 15 77 «4 351. Poultry And Eggs FCBNISHED By ED WELMCK AND SON .15 .37 .20 .38 Motor Wheel 1.60 Muffins Mfz B Murray Corp Nash- Kelvina tor Nat Acme le Nat. Aviation V Nat Biscuit 1.60 Nat Cash Reg 1 Nat Dairy Pr .SO Nat Distillers 2 M 3 15 S 3 34 Vie 2 5Ti Sales IB Hdi. High 17 4V» 5 e 2 18 S 15 V4 3 5H 154 3 834 Low Close 44 1?" 12 *i 13«i Nat Gypsum -40e Nat Lead Vja Nat Pow & Lt .60 Nat! Steel 3 Nat Supply Nat Tea Natomas Co la Nehi Corp 4 a Newmont Min ^ir Newport Indust N'ewpt New Ship N Y Central RR 1 2 11 5 3 ig 3 .30e 7 .40g 6 66 N Y Chii-StL pf 2 N Y N H & II 2 N Y Shipbuilding le 14 No Am Aviat IVie 17 North Amer Co 1.20 42 Northern Pacific 8 O Ohio Oil .45e 16 Oliver Farm Eq HE 2 Omnibus Corp 1.20 1 Otis Elevator .20g Otis Steel Owens-Ill Glass %g Pac Gas & Elec 2 Pac Lighting 3 "'ackard Motor 'an Am Airways Param Picture* .20s 3 1 3 4 P n 3 s 37 - - -JOB 37 Park U Con M .lOe 2 Parke Davis .40j 3 Pathe Film ..TO* B Patino Mines .60g 4 Penney J C 3a 7 Penn Dix Cement 20 Penn R R 34e 27 Peoples Gas L&C 3Vig 2 Petrol Corp • ,70e 2 Phelps Dodge Viz 16 Philco Corp ^*e 1 PhiliD Morris 3 2 ^hillips Pet 2 9 Pillsbury Flour 1.60 3 Pitt Scr & Bolt .45e 3 tPitt Steel pr pf flymouth Oil 1. oor & Co B 30e 'ressed Steel Car Procter & Gab 2 'ub Svc NJ 2.40 3 ullman 1 'ure Oil Ue Purity Bak Viz ladio CD ot Am .20g 70 .10 1 11 5 . 16 SH 25 V4 23 Vi 12 Vi 254 25 Vi 13 Vi 35'i STi 611 144 94 154 71i 41H 2fiV4 364 2!i 32'1 304 14 26U 7'i 7 !lj i* 6 28 Vi 11 73 Vi 54 57 14 M 12 Vi 134 21 16' 6 SSI! 8 25 Vi 6U 11% 25 A 24* 12H 15 44 17V4 SVi 16 Ti 124 33 Vi 21 6S 36 6 13V 9Vi 26 364 124 264 75* 2 22H 3S% 27S 11 734 35 74 21 H 5!i 57 51H 27 22 Ti tadio-Keith-Orph laybest-Man IVit ^avonier Inc heading Co 1 Reming Rand .20g leo Motors ct teoub Steel 4g flevere Cooper & Br 3Vi 19 33 32V 37% 30H 324 VA. 1 s 4" 10 u 3IT4 7S 23 32 25 Vi •i 25 Vi 127i 15 5% 13 94 154 7H 40H 264 364 2»i 124 10 >4 14 264 7% 75 2 224 3SV 6 734 36 9'i 53 T4 27 23 7«t 30H 3Vi 19 33 324 f* 374 S ins 32 7X ••?0 Reynolds Metals .30e * •20 ! Revnolds Tob B Vie 31 •?0 Richfield Oil Vie 6 'Si S '7q Salewav Stores 3a 4 38 37'* 37H •jS tsafe St 51 pf 5 .40 110V4 1W4 310VJ •iSiSt Joseph Lead Vis 3 34 2oJSchenley Distill 14 9Vi •" Seaboard Air Line « * .13 .10 .30 .16 .10 .13 .05 .39 .3' .16 Sears Roebuck 3a 7 69 Ti Senel Inc 3 10 10 . Sharon Stl Corp Vie 1 U Shattuck (FG) .40 5 4H Shell Union Oil K« 3 10TI Simmons Co 2e 3 17 Skelly Oil IVie 1 18TV Smith fAO) Corp Vie 2 144 Socony-Vacuum >ig 39 8'i So P Rico Sug 1 4 16*i Sou Cal Edison IVia 4 25* 34 9 •4 694 9H 11 Southern Pacific .„ Southern Ry .17 Southern Ry pf .15 Sparks Withington ~ Sperry Corp 2e Spiegel Inc .15g .15 LOS ANGELES LOS ANGELES. Feb. 39— (UP)— Butter: Extras 33. prime firsts 32. standards 314, undererades 30. Large eggs— Candled clean extras 22, candled light dirty extras 21. candled dean standards 20. candled light dirty standards 19. candled checks IS. - . Medium eggs—Candled extras 19. candled light dirty extras 18. candled dean standards 37, candled light dirty standards 36, candled checks 17. Small eggs—Candled extras 15, candled light dirty evtras 14. case count 19. Western cheese—Triplet Daisies 16, Longhorns 16Vi. loafs 17. Poultry prices—Hens, leghorns. 2Vi to » Ibs. 14: over 3Vi and up to 4 Ibs. 14: over 4 Ibs. and up 35: hens, colored. 4 to 5V Ibs. 23; over 54 Ibs. and UD 20: broilers. IVI and up to 1** Ibs. 39; over 1% and up to 2U Ibs. 20: fry. leghorns, over 2Vi and up to 3 Ibs. 15: colored. 24 and up to 3!i Ibs. 16: colored over SVi end up to 4Vi Ibs. 17: roasters, colored over 4Vi Ibs. and up 18; stags, colored 14: old roosters, colored 11; leghorn 09: ducklings, Pekin. over 5 Ibs. and up 19: under 5 Ibs. IS; old ducks, white Pekin. OS: geese 15: young torn turkeys. 14 Ibs. and under 20 Ibs. 13: 20 Ibs. and UP 32: young hen turkeys. 9 Ibs. and under 33 Ibs. 36: 31 Ibs. and up 36: old hen turkeys 31: old torn turkeys 13: capons, 6 to 8 IbF. 24: over 8 Ibs. and up 24: - -•• • •• Ibs. 36; rabbits. . . rabbits. No. 1 white 3H to mixed colors. 3H to 4H Ibs. woolley 06; No. 1 old 06. 4H 13; CHICAGO CHICAGO. Feb. 19— (AP)— Butter, receipts 692.6S1: steady; creamery. 90 score 29 '4 • other prices unchanged. Eggs, re- reipts 8.T9P: firm: fresh graded, extra firsts, local IS. firsts, local 15*. cars 16'i : current receipts 15 U: other prices un- current receipts Poultry live, 19 trucks: steady to firm: , springs, under 4 Ibs.. Piymonth Rock 20; capons. 7 Ibs. up 22%. under 7 Ibs. .£!; apons. . other prices unchanged. KANSAS CITY KANSAS CITY. Feb. 19—(AP)—ESC5. . .S: current receipts, unchanged. o- . . 14. Other prices Dividends NEW YORK. Feb. 39— (AP)— Holders of e approximately 18.700.000 outstanding . the approximately shares of American .. Telephone and Telegraph company, common stock will receive the regular quarterly dividend of S2.25 a share on Apr. 35. The payment, totaling roughly S42.000.ono. voted today, will be made to stockholders of record Mar. 17. Gar Wood Industries. Inc.. authorized a dividend of 20 cents a share, payable Mar 24 to holders of record Feb. 24. the first since 25 cents was disbursed in July, 1937 The company makes motor boats, hoists, car bodies, heating equipment, road machinery and other industrial products at plants in Michigan. Minnesota, New York. California and Ontario. The American Clgaret and Cigar company declared a dividend of 52 a share on com- share raid In November. The company is con. trolled by the American Tobacco company. Cash Provisions CHICAGO. Feb. i9-(AP)-Lard. tierces 6.20: loose 5.42; bellies 11.12. . Square D Co 2.80* Stand Brands .40a Std G & E S4 pf Stand Oil Cal 1 Stand Oil Ind 1 Stand Oil N J la Stewart-Warn He 35 6 19 3 16 2 6 M 4 33 21 32 3 Stone i- Webster Vie 4 Studebaker Corp Sun Oil la Sunshine Mng 1.60 Suoerior Oil .ISe Swift & 4 Co V.20a 3 T SS 32vi 54 32 61 2? 1S4 25 Ti 334 6Ti , 64 64 55 SH Tenn Corn Ug I Texas A Pacific Ry 2 Texas Corp 2 19 Texas Gulf Prod -20e 4 Texas Gulf Sulph 2a 7 Tex Pac C * O .40 3 Tex Pac L Trust .10e 1 Thermoid Co Tide Wat A Oil .60 Tide Wat A O pf 4V4 Timk-Det A>de SVie Transamerica Vi Trans & West Aid Tri-Cont Corp Truax-Traer C Vie Twent C-Fox F Underwood-El 2Ue Union Bag & P It Union Carbide a iz Union Oil Cal 1 Union Pacific 6 Union Tank Car 2 United Air Lines United Aim- 34e United Carbon 3 United Corp Unit Fruit 4 United Gas Imp .80 U S Gvnsum 2a U S Indus Alco U S Leather A S Pine & Fdry 2 S Plywood 1.20 . U S Real & Imp U S Rubber U S Rubber 1 pf 8 7 8 9 2 cj 9 22 5 5 25 17 S 37 6 3 2 5 1 36 26 U S Smelt R4M Ig 1 U S Steel le xd!24 Ti M 3 35 S 54 25 ^ STi 10 Vi 62% 33U 78% 26 354 474 IVi 63 Vi 8% 61% 214 21 IVI IT 58 56K 17 IS'-i 8% 164 25% SH 11% 19% 31% 54 j* 25% 33 6 55 SVi m 22 Vi "Si 34 Vi S5V4 98 27 Vi 34 9Vi 69 Ti n 41 lOTi 17 144 8% 164 25% 8% 114 20 Vi 6 2Vi 18 f* 6 S5 8% 34H •la 98 27 H 32 10 61% 13 Vi 76>4 25S 32Vi 34 S 63 'i 8>i 60 21 Vi 6 2SS 20 V4 IVi 17H 80 ti SS 55 U S Steel pf 7 2 HSVi 118 II S Tobacco .32z 2 28 28 tUniv Pictures 1 pf .40 139 138 Vanadium Corp IVie 4 Vick Chem 2a 4 Va-Caro Chem 2 W Walker H G * W h4 3 Walworth Co 4 Ward Baking B 1 Warner Bros Plct 18 Warren Bros 2 tWarren Bros cv pf .50 26% 42% 2 26 V4 42 H 2 Waukesha Motor West Auto Sup West Man-land West Pacific pf West Union Tel le Westing Air Br Ug West El & fg Ig Wheeling Steel White Motor White Rk M Sp Wilson & Co 1 1 xdll 1 2 15 14 4 IS 2' 17 Woolwrth (FW> 2.40 20 Worthington P&M 3 Wrigley (W) Jr 3a xd2 Yellow Tr & C IVie'll Young Spg i W Vie 1 Youngst Sh Hg 17 Z Zenith Radio le 3 Zonite Products 8 26 H 2T» 35 24 Vi 91 14 25H SOVi 70 13VI 94 324 12 74 26 4H 32 62% 13« ISH IVi 63 Vi SVi 60 21V4 14 ISVi 80% 58 55% 118 28 138 26 Vi 42% 26 35 24 3 39* 39 V4 90 Vi 25 32 Vi 5 U 4H 30V* 36V4 69* 12 74 9Vi 31 Vi 12=4 2 15 24 3 19 25 12% 5V4 4H 30V4 16V4 69% 3274 9V4 32 1274 a Artlr SALES STATISTICS itockt Total today Previous da.T Wff k aRQ closed. Year KO Two yearn »to closed inn. 1 to date Ynr aco Two yran a«o M0.100 3.330 485,430 320,050 782^80 1D.709.835 :8,I88.850 35,050,088 urani » «* * • *.»••_ *> Gt Nor Ir Ore ct 3JS.e 2 Northn Ry pf Vie 36 334 i % 13V4 22H 23 Harb-Walker Hayes MfC Hecker Prod .60 Pf 20S V* 6% 12Vi 2Vi 6H 12 13'i 234 10 ^ 1V4 94 20 «4 6% 12 ... -Bar silver and unchanged here today - , 19 —'AP>—Bar silver (uiulvalent 4ZS9 cents). Illinois Central 111 Central pf Indust Rayon 2 Inland Steel 4 Inspirat Copper Vie Interchem Corp l-o" Interl«k« Iron 6Vi 33 23 Vi 77 9\ 22% 33 22 Vi 9H 34 31?i 16% 6V4 33 22 Vi '9S 22H 7% Cotton Market Exclusive ^ ,„„ Republic Dispatch R EPORTS received from the D. S. Bureau of Agricultural Economics place the premiums offered on PREMIUM-STAPLE CXJTTON as notad below. Premiums were compiled from prices at which cotton is actually sold, and lengths are described to conform with the official standard of the United States. New Orleans middling 10.32. Staples • based on March futures. Strict middling inch 60 points on; 1 1/32 inches 80 points on; 11/16 inches 115 points on; 1% Inches 215 points on. Demand fair. NEW YORK NEW YORK, Feb. 19—(AP)—Reduced supplies of cotton futures for sale brought price gains of 2 to 8 points today. Cotton Futures (Furnished By E. F. Button ft Co.) (Member of New York Cotton Exchange) New York Open High Low Close January March May July October December 9.66 9.66 9.61 9.64 10.28 10.30 10.25 10.29 10.25 10.28 10.22 10.28 10.11 10.15 10.09 10.15 9.69 9.69 9.62 9.68 9.66 9.66 9.61 9.66 New Orleans Open Close 9.66 9.67 10.35 10.36 10.29 10.32 10.17 10.18 9.73 9.74 9.69 9.71 Liverpool in Pence Open Close 8.15 8.23 8.23 8.24 8.25 8.25 8.21 8.19 8.16 New York Bonds New York Stock Exchange NEW YORK. Feb. 19— (AP)—Mos: sections of the bond market were undei moderate selling pressure today and pricea dropped fractions to around a point gen erajly and, in some cases, as much as S Fresh nervousness In financial quarters over developments in the war theaters was «» principal reason advanced by brokers lor the recession, which was accomplished on a turnover of but 55,042.700, pa vahie. Yesterday's sale* totaled $5,127. The rail group In the Associated Pres averages sank to a new 1941 low at 60.2 olf .3 of a point, notwithstanding the fac the day's grist of news affecting th carriers was more favorable than otherwise Losing were, among others. - Interna tlonal Hydro Electric 6a at 45»i. Boston and Maine 44s at 20V4. Childs Company •">s at 27fi (a new low for the year Rock Island general 4s at 15Vi. Pen Marquette 4s at 63 and Pennsylvania general 4V5s at 105Vi. Amone the few issues contesting th tide for small advances were Montana Power 3?is. Pacific Gas 3?is and Conti nental Oil 2"is. U. S. governments lost up to 15/32 o point in the long-term treasury lis while a few maturities nearer by closed up a shade. British Empire bonds reflected nervousness in the foreign group. Australia 4 Vis and New South Wales 5s were among the losera. BOND AVERAGES Compiled by the Associated Press Net change Wednesday Previous day Month ago Year ago 1941 high 1941 low 1940 high 1940 low 20 Balls D.3 6012 60.5 63.7 57.6 64.2 60.2 61.4 48.3 10 Induit A.I 104.S 104.4 105.0 102.4 105.3 104.4 105.9 98.9 10 t/'tii A.I 99.1 99.0 101.0 96.7 101.3 99.0 100.7 90.3 10 LOW YIELD BONDS Low yield 313.1 Prev. day Month ago 113.9 Year ago 1941 high 114.6 1941 low 1940 high 114.6 1940 low Sales In $1.000 High Lot Allegheny c.v 5s 44 7 90*1 90 3 Allegheny cv 5s 49- 12 79 78 Am & For P 5s 2030 26 53Vi 53 Am I G Chem SVis 49 8 101 Vi 101 Am Int S4s 49 9 101 101 Am T & T SVis 43 5 103A 103V Am T t T 3Vis 66 32 107>i 107? Arm Del 4s 57 6 305% 105? Arm Del 4s 55 7 105Vi 105 A T & S F 4s 95 16 1084 107'. AT & SF 4Vis C-A 62 1 110 110 A C Line 1st 4s 52 2 74 Vi 73! B & O SS st A 23 38H 38 B & O SW 50 st 12 43*1 43 Bell T Pa 5s 48 B 5 112Ti 112? Bell T Pa 5s 60 C 3 ISOVi 330V Beth SU SVis 65 6 304«i 104V 3kly Edis SVis 66 5 10831 308' Can Nat Ry 4V4s 51 5 91K 90V Can Nat Ry 44s 57 5 91 90V Can Nor 64s 46 1 102»i 102" Can Pac 44s 46 5 78«i 781 Can Pac 4Vjs 60 1 65ft 65? Can Pac 4s pern 4 53 52V Cen N Y Pow 3%s 62 3 106Vi 106' Cen Pac 5s 60 5 479i 47= Certaln-td SVis 48 1 85 85 C B & Q 4Vis 77 3 72 71' C B & Q 4s 58 7 83V4 83V Chic Gt West 4s 59 49 32Vi 31? CMSP & Pac 5s 75 42 6 ST Chi i NW cv 4 s is 49 15 IVi 1! Columbia G 5s 52 May 3 104 104 Comw Ed cv SVis 58 14 114Vi 314V Con Edis 3V5s 48 1 105V4 105V Consum Pow 3V4s 70 2 109"* 309 3 Cuba No Ry 54s 42 1 16Vi 16V D £ R G 4s 36 15 7tt 7« Suquesne Lt 34s 65 31 1(18'i 108 V Gen Stl Cast 54s 49 21 S5"i S4T Goodrich 4Us 56 7 1054 105 It Nor Ry 54s 52 2 1054 105V * i M rfe 5s 57 37 464 46 ill Cen 4%ls 66 28 29«i 29V Interlake Iron cv 4s 47 5 974 97V nt Hydro El cv 6s 44 14 46 Vi 45 1 40.3 40.5 39.f> 50.5 41.5 38.0 53.5 35.1 ll.'l.l 112.3 113.1 108.4 ; 107 ... i 1054 105 V» !nt Pap 5s 47 IntT&TSsSS I C Term 4s 60 Ixiulsla & Ark 5s 69 K Tex 5s 62 A M K T 4V4s 78 It K Tex 1st 4s 90 U K Tex 4s 62 B Ho Pac cv 54s 49 tfo Pac 5s 77 •Call Steel 3t 65 S"YC rfg 5s 2013 e 103V4 : 27 39% 6 lOTfc ! 1 S4V» 13 H 12V 27 26'4 12'i NYC 44J 2013A MYChl&StL 30 62V4 57 57 SVis 74A 8 68 44s 78 31 55'i Niagara Sh cv SVis 50 1 102* s-or Pac 4s 97 19 7SVi S'or Pac 3l 2047 IS 43 Vi Pac G & E 3\s 61 5 110»i Pen P & Lt 4Vis 74 7 307Vi Pen RR gen 5s 6S 5 314U Pen RR en 4V5s 60 « -•»« Pen R gen 44s 65 Pen RR 44s deb 70 _. __ Pen R R gen 4Vis 81 35 101T4 Phtlps Dodge SVis 52 1 106H Phlla Co 5s 67 38 106% Rem Rand 4Vis 56ww 9 103«i Republic Steel SVis 54 10 103V* Republic Stee! 4Vis 61 5 1P4V% Richfield Oil 4s 52 4 105 »i Soconv-Vac 3s 64 Sop Pac 44s 68 Sou Pac 44s 81 So Pac clt 4s 49 South Ry 6Vis 56 5 121V ! 19 106 : 19 91 3 105S 31 44 44* 80 5 15 43H South Ry gen 6s 56 4 754 Studebaker cv 6s 45 10 102 Unit Drug 5s 53 Utah P 4 L 5s 44 'a 48 10 834 S3 83 .. 16 103* 103Vi 303 Warner Bros 6s 48 2 94 93 93 Western Un 5s 51 5 74% 74>i 74 Wheel Stl 4Vis 66A S 105 105 105 Wilson t Co 4s 55 7 107V4 107Vi 107 Young SAT CV 4s 48 43 102H 102H 102 FOREIGN BONDS Argentine 4Vis 71 20 68 67JI 68 Brazil 8s 41 44 19 18% 19 Canada 5s 52 8 98 97'4 »7Vi Ger Gov 54s 65 3 8% 8% S* Italy 7s 1951 1 43% 43H 4 Serbs Cts SI gs 62 1 7Vi 7V4 Tokyo El Lt 6s 53 40 47V4 46Vi 46V4 Sugar Quotations . NEW YORK, Feb. 19— (AP)— Trade forecasts of an early advance in reuned sucar cave Impetus to the current thrust ahead in domestic sugar futures. Distant deliveries reached the season's top marks and the list generally gained 1 to 2 points on nalei of 13.300 tons. World futures ended 4 higher to 1 lower but sales amounted to only 3.000 tons; March .68B. May .72B. In the raw market. 6.000 bags of Puerto RIcans clearing February 27 sold at 3 cents a pound. Only one lot was available later at thl» price, with other offerings scaled up to 3.10 cents. Good demand appeared for refined ocally at the unchanged price of 4.45 a 3 dose: March 2.08B: May 2.13B: Julv 2.1SB: September 2.22B: November ~.24B: January 2.22B; B-Bld. U. S. Bonds 45-43 „.,. 4fi-44 4Vts 52-47 3s 55-51 2'i* 56-54 2%s 60-55 •2\l 59-56 2?is 65-60 TREASURY 6al» In 11,000 Hlsh IAV 1 107.3 107.3 1 108.3 108.3 2 119.9 119.9 1 110.9 110.9 1 103.10 103.30 1 307.26 107.26 1 107.1 107.1 1 107.8 107.8 3J 49-44 FEDERAL FARM SITC,'. 64-44 2 107 307 Clow 107.3 108.3 119.9 110.9 103.30 107.26 107.1 107.8 1 306.29 106.29 106.29 HOO: ««n?«| w*J B i?l™ si 1 ^ 1 ^ 106.25 102 100 Vi Earnings ! axes arid provision of S223.401 to, profits taxes, equal toS1.91 each on 199.745 chares This compared with $104.712, or 77 cents each on 13S.612 shares in 1939. The 3940 earnings Included operating results of the California division, formerly Aircraft Precision products Inc.. trace aVSlsition Aug. 4, 1940. Main plant Is In Jayton. Ohio. Wool Market A, a Sl'S-Sl 05. Sid eight month wools at 9395 scoured basis. _ _ . NEW YS$ L ™b P ™P*-Wool top v 122.3B: July 118.0B: Oct. 3J4.1B. « . B— Bid. Treasury Receipts Feb. 19 — (AP) — The customs receipts for month receipts for fiscal year 'q«'i6 62- receipts for fiscal year <i.iv IV %3 533Wo44.89: expenditures SS 947 S1.S73 51 : excess ol expenditures «'«S 38' 828 62: ST05S debt $46.040.16..402 32: d'elrease under .EfvlotMrday SI.- 649.287,99; »old uieU 432033^13,241.50. Wheat Rally Is Extended CHICAGO, Feb. 19—(AP)—The whealt market's recovery, inaugur ated yesterday on strength of shor covering and scattered mill buy ing, was extended almost a cent a bushel today despite a sharp mid- session setback. Spreading cold weather over much of the grain belt, small-scale mill purchases and reduced receipts at principal terminals were con structive factors. Prices rose V~ cent at the start then fell about a cent, largely re fleeting weakness of securities, bu rallied again in the final hour to close *&-% higher than yesterday May 79H-?i, July 75. Corn finished 1% highejr, May 61%, July 60%; oats ?s-?s up; rye Ts-l'/s lower: soybeans 1K-1& higher anc lard 8-10 higher. The cold wave, apparently more severe over the soft winter wheat belt than in the southwest, was expected to be prolonged, with temperatures likely to recede in the latter area. However, some rain or snow was reported at several principal points in the Southwest. Receipts at the 12 interior terminals totaled 184,000 bushels compared with 285,000 yesterday and 382,000 a year ago Kansas City reported cash wheat receipts were the lightest in two weeks. Yesterday Kansas City reports indicated wheat was moving more freely in Kansas and Oklahoma. One sale of 18,000 bushels of free wheat in an elevator was reported at around the recent low level of prices. This wheat hac been carried for more than a year Another lot of 12,000 bushels had been carried in storage for two years. Rye prices tumbled as much as 2 : /i cents at one time to the lowest levels of the season following announcement that trading in July and September contracts will cease next Monday except for liquidator of contracts. May contracts wil not be affected. Trading in new grades will begin next Tuesday These changes are subject to approval by membership of the exchange voting Monday. They were made necessary by changes in official grading standards. New oats contracts also will be traded, but the change in oats standards does not alter specifications of existing grades and trading in old style contracts will be continued. Outstanding strength of corn was attributed partly to lifting ol hedges in connection with 127,000 bushels sold to shippers. The country sold 74,000 bushels on a "to-arrive" basis. Cold weather was expected to stimulate farm feeding. Lard borrowed strength from cottonseed oil. Range of prices on grain and provisions exchange follows: WHEAT: May 79 Vi July 74%-Vi May Tuly Sept. OATS May July 75 60 Vi 60 Vi 59 Vi 79% 75 75 Vi 344 31 Vi Sept. 30% SOYBEANS: May 90-91 Vi JU RYE.. s ™ May 42V4 July 44% " !Pt. 44 LARD: Mar. 6.20 May - 6.32 July 6.47 {JELLIES:' May 60 Ti 60 35 31 Vi 304 91 Vi 87% 42% 44% 44 !4 6.23 6.40 6.57 6.73 78 H 73% 74V» 60 34H 31Vi 30% 89 V4 79%-% 75 75%-Vi 61% 60 Ti 60 35 31 Vi 304 40% 32% 43% 6.17 6.30 6.45 6.62 87% 41 »i 43 H 44Vi 6.25 6.40 6.57 6.72 11.00 CHICAGO CHICAGO, Feb. 19— (AP)— Cash grain Corn: No. 2 yellow 62\: No. 3, 61% No. 4. 58-61: No. 5. 56-58%: No. 5 yellow wwvlly 64Vi: sample grade white 55%. sample grade mixed grai No. sample as o. red 37, sa ain 34Vi: No. 1 white extra heavy 38 .... 3 white heavy 38; No. 3 white 364 No. 3 white heavy 374: sample grade wnlte 31%-334. Barley: Malting 51-66 nom: feed 42-51 nom: No. 1. 56: No. 3. 62: No. 1 malting 33: No. 1 malting tough 52-66; No. 2 maltSoybeans: No. 2 yellow 92: No. 4, 89. Field seed per hundredweight nominal: Timothy 4.00: alsike 9.50-12.00: fancy red top 7.50-8.00: red clover 8.00-10.00; sweet clover 3.50-4.00. MINNEAPOLIS MINNEAPOLIS. Feb. 19— (AP)—Wheat receipts today 42 cars compared with 90 a year ago. Trading basis unchanged. Quotations % cent higher. Cash: No. 1 leavy northern 82%. Dark northern No. 1. 81%: No. 2. 80%. No. 3. 7S%-79%; fancy No. 1 hard Montana S3%: Minnesota-South Dakota No. 3 dark hard winter 79%-80%. Hard amber durum: 72%-77H. No. 1 red durum 72%-73S. Corn. No. 3 yellow 54V»-56Vi. Trading lasis unchanged. Quotations 1% cents 'oats'. No. 3 white 32*-33Vi. Barley. 40-55. Rye. No. 2. 46Vi-49%. Flax. No. 1. 1.70S-1.76X. Sweet clover seed. 3.50-75. Range of prices: WHEAT High Low May 79% 78 <-i Julv 77% 76Vi September 75% 74Vi CORN May old May new OATS May Julv RYE tfay Julv FLAX lay July September 564 S3 Close 79% 77% .75% SSH 31 Vi 28% 41H 41% 1.71 1.68 V4 1.61 30% 28 V4 39>4 40% 1.69 1.67 Vi 1.60 28% 40'i 41% 1.69% 1.6SV4 1.60 Vi WINMPEO WINNIPEG. Feb. 19—(AP)—Wheat: High Low Close .tav 79% 77V4 77V4 Julv 79% 78% 79V4 Cash wheat. No. 1 hard 75%; No. 1 northern 75%: No. 2. 73: No. 3. 70; No. 2 white oats 33%: No. 3, 32%. OMAHA OMAHA. Feb. 19—(AP)—Cash wheat: No. 1 dark hard. 76Vi-77; No. 2 hard, 77; «o. 2, 75-76; No. 3. 74Vi. Corn, No. 3 yellow, 54Vi. Oats, No. 3 white. 32%; No. 4, 32. Rye and barley, none. Foreign Exchange NEW YORK. Feb. 19—(AP)—Shanghai nd Hong Kong dollars declined today in relation to the United States dollar after a sustained rise put both currencies at the year's highest prices. The Shanghai unit lost .09 of a cent and the Hong Kong money .01 of a «ent The free Argentine peso rose nearly no cent A trifle lower was the Canadian Closing rates follow (Great Britain In dollarn. others in cents): Canada—Official Canadian control board ates for U. S. dollars; buying 10 per ent premium, selling 11 per cent prem- um. equivalent to discounts on Canadian ollars in New York of buying !>.91 per ent. selling 9.09 Ter cent. Canadian ollar In New York open market ISA per ent discount or S4.56Vi U. S. cents. Europe—Great Britain, official (bankers oreign exchange committee rates), buying S4.02. celling S4.04; open market, cables 4.03; Germany 40.05N; (benevolent) 2075: Finland 2.05N: Greece .6SN: Hungary 19.77N: Italy 5.06: Portugal 4.01: Sweden 23.85VJ: Switzerland (X) 23.24; Yugoslavia 2.35N. Latin America—Argentine official 29.77; ree 23.6S: Brazil official 6.05N, free .DON: Mexico 20.70N. Far East—Japan 23.4S; Hong Kong 4.68: Shanghai 5.SO. (Rates in spot cables unless otherwise ndicated. N-Nominal. X-For commercial ransactions. Crude Rubber NEW YORK. Feb. 19—(AP)—Crude rubber futures closed 25-49 higher. Old: Mch. 21.15; May 21.03-04. New: July 20.40. Smoked ribbed spot 21.20N. Nominal, Metal Market NEW YORK, Feb. 19—(AP)— A ' Copper steady; electrolytic spot Connecticut valley, 13.00; f. a, s. New York 10.37^-12.00. Tin firm; spot and near-by 52.50; forward 52.50. Lead firm; spot New York 5.65-5.70; forward 5.50. Zinc firm; East St. Louis spot and forward 7.25. Pig iron quiet; No. 2 f. o. b. Eastern Pennsylvania, 24.00; Buffalo, 23.00; Alabama, 19.38. Aluminum, virgin 99 per cent 17.00. Antimony, Chinese, spot 16.50. Quicksilver 171.00-173.00. Platinum, pure 36.00. Chinese wolframite, duty paid 25.0026.00. Domestic scheelite, 24.00. New York Curb Stock And Bond Prices XD—Ex-dividend. EX—First sate .since ex-dividend date or .dates. XR— Ex-rights, a—Also extra or extras, b—Including extra or extras, c—De- clared or paid so far this year. I — Payable In stock, s —Paid this year: no regular rate, h—Cash or stock, k— Accumulated <iv. paid this veai. ar— Under rules, ww—With warrants. ippiy B o Am Aero Su. Alum Co Alum Co An> pf Am Cyan B Am Gas & El Am Light & Tr Am Superpow Ark Nat Gas Atlas Corp war Auburb Cen Mfz Aviation & Tran Babcock & Wil Baldwin Loco war Barium Sta Stl Bell Airc Sales In Hds. Hlch Low Clns 2 5H SVi 5% 1 1354 1354 135V; .50 114V1 114'i 114Vi 4 324 31% 32 28», 284 284 31% UT» 11% Bellanca Airc & Gay E W Furn Berk Bliss Bridgept Mach Brown F & W Bunk Hill & S Carib Syn Carrier Corp Catalln Am Chi Flex Shaft Cities Service Cities Service pf Colum G & E pf Cons Stl Corp Cont Roll & SU Creole Pet Crocker Wh El M Croft Brewing Crown Drug Eagle Pich Ld El liond & Sh El Bond & Sh pf El Bo & Sh S3 pt Equit Faircl ty Corp :hi!d Av Ford Motor Ltd Gen Alloys Glen lloy Aid Coal Gt All & P nv Gulf Oil Hecla Min Humble Oil Imp Oil Ltd Ind Pipe L Ins Co N Am Int Pap & Pow war Int Petrol Irving Air Ch Jones & Lau SU Kingston Prod Lehigh C & N Long Is Ltg Louis L & E Mesabl Iron Molybdenum Montg Ward A Mt City Cop Mount Prod • Mat Bellas Hess Nat Rub Mch Nat Sue Ref Nat Tun & Mines M J Zinc Niae Hud Pow Nor Am Lt & Pow Pac G&E 6 pf Pantepec Oil Ven Pennroad . Pa Gas & El A Pitts PI Gl Republic Avia St Reels Pap Selected Indus Shat Denn Jherwln Wm» Singer M!g Southl Royal St Oil Ky St Oil Ohio pf Sterling Inc Sunray Oil Todd Shipyards Tubize Chat Unit Lt & Pow A U S Foil B U S Radiator Utah P&L pf Vultee Airc West Va C * C Wright Hars 10 2 1 4 32 2 5 2 9 13 .30 6 3 3 2 17 5 JO 4 10 1 29 13 5 2 6 4 3 3 11 2 2.502 1 4 5 1 5 5 .30 35 2 4 2 6 3 9 1 6 5 25 Vi 4Vi 19 Vi 3't Itt 30 11 K 3'4 354 25 4H 39 3H 1%. 30 11H 3T4 48 Vi 54 SVi 6% 13 VI 4% 8% I* 54 V4 8* 99 Vi 31% 6% 3% SVk 68 54 13 I* 61 14 25 44 19 3% 13'i. 1H 30 IVi 7Ti SVi .63 3;i 48 Vi 54 5% 6% 61 544 8* 31 55i 54 6. 34 644 14 27 2ti 51i 4 15 iv SVi 2% 64 Vi 2% 79 Vi 2% 644 33 2% 3 33 2V 794 3 Vi Vi 18 3% 3 3 .20 120 120 * 120 5 SVi 5H 5Vi 6 ISVi 18 IS 35 108% 108% 108H 4 3 .20 2 .50 2 IVi S3* 6Vi 14 7874 6S 27> 4% 7S74 6S 274 l l « 14 S3 14 7874 CCRB DOMESTIC BONDS . Sl.OOO Hijh Low Close Ark P & L SB 56 5 106Vi 106Vi 106Vi As El 4Vis 53 10 45)4' 45 45 Baldw L 6s 50 23 111 HOVi llOVi Can Pac 6s 42 4 71 71 71 Cities Ser 5s 50 45 Sl-4 80% 81 Cit S P & L 54s 49 32 S9»i 884 S8»i Glen Alden Coal 4s 65 5 SIVi 814 814 Inters Pow 6s 52 1 39 39 39 tnters Pow 5s 57 13 68Vi 67% 68 Mevada Cal E 5s 56 33 92% 914 914 Pen Cen P&L 4Vis 77 5 104% 104% 104% Safe Har W 4'/,s 79 5 107% 107% 107% SoCnty G Cal 44s 68 5 102A 102* 102A Stand G & E 6s 51 6 77% 77V4 77V» Stand P & L 6s 57 17 77% 764 764 Tex El S Ss 60 12 106% lOSi-i 106% Tex P & L 5s 56 3 107% 107% 107% Unit L & P 7s 75 3 85% S5% 85 West Newsp Un 6s 44 3 63 624 62 0 Loan Interest Cut Is Mapped BERKELEY, Calif. Feb. 19^(A E. A. Stokdyk. president of the Berkeley Bank for Co-Operatives, said today interest on facility loans would be reduced to 3% per cent from 4 after March 1. The reduction will apply to loans already on the books as well as new loans, Stokdyk noted. Some of the old loans carried rates as high as 4& per cent. Farm co-operative associations in the four Southwest states, California, Arizona, Nevada and Utah, served by the bank will save around 517,500 a year on loans now totaling more than $3,000,000. The reduction will not apply to other classes of loans such as operating capital loans—already at 2& per cent—and commodity loans— :arried at per cent. -o- U. S. Estimates Livestock Value WASHINGTON, Feb. 19—(AP)— The agriculture department reported today the aggregate value of seven species of livestock on farms January 1 was 55,369,074,000 as against 55,198,989,000 a year earlier. Included in this total were horses, mules, cattle, sheep, hogs, chick- ins and turkeys. The number and value of the various species January 1 this year compared with the totals for January 1 last year were: Horses, 10,364,000, valued at 1706,940,000, as against 10,602,000, valued at $820,127,000, a year earll- kules, 4,238,000, valued at $448,062,000, as against 4,309,000, valued at $493,653,000. Cattle, 71,666,000, valued at $3,111,925,000, as against 68,801,000, ,-alued at $2,793.466,000. Milk cows, 25,917,000, valued at $1,577,250,000, as against 25,397,000, valued at $1,453,756,000. Sheep, 55,880,000, valued at $375,631,000, as against 54,549,000, valued at $343,825,000. Hogs, 52,983,000, valued at $440,073,000,. as against 60,207,000, valued at $470,242,000. Chickens, 413,934,000, valued at 270,265,000, as against 429,042,000, valued at $258.997,000. Turkeys, 7,030,000, valued at $16,78,000, as against 8,567,000, valued at $18,679,000. In gold rush days, apple pie sold for one dollar a slice in San Francisco. Hogs, Cattle, Lambs Drop KANSAS CITY. Feb. 19—(USDA)— HOES: Salable and total 2.000; slow, mostly 10 lower than Tuesday: top 7.70: good and choice 170-270 Ibs. 7.55-65: a few 280-350 Ibs. 7.25-55: 140-160 Ibs. 7.10-50; «ow» 6.40-90: stock pigs 7.00 down. Cattle: Salable 3.000. total 3.050: calves Salable and total 250: going very slow on fed steers, a few medium ehortCeds about steady: most bids around 25 lower; feu heifers fairly active, fully steady: cows rather slow, steady: buns, vealers and calves unchanged: stocker and feeders steady: bulk fed steers medium and good grades eligible to sell 9.25-11.25: a few loads held upward to 12.00 and above: choice Colorado heifers 12.15: several loads good grade heifers 10.00-11.00: butcher cows 6.00-7.50: good and choice vealers 1000-12.00. top 12.50: few loads good and choice feeders 10.00-60; good 815 Ib. »toclc cows 7.00. Sheep: Salable 4.000. total 4,600: no «arly sales, opening bids around 25 lower on slaughter lambs: asking fully steady; beet fed lambs held above 10.75. LOS ANGELES LOS ANGELES. Feb. 19—(Federal-State Market News Service)—Hogs salable aupply 200- steady to 10 lower: bulk medium to choice 170-240 Ib. S.35-90: too 9.00 on ?ew head 211 Ib.: off weights 7.00-8.35: packing sows 6.35-75; odd butcher sows to 7.35. Cattle salable 750: slow on steers ana heifers: generally steady; few common ..tc* medium steers 8.00-10.00: best held around 11.00; fleshy feeders 10.25; few common to medium heiters 8.00-9.00; best held above 9.50; cows 7.00-8.13: some held 8.25: canners and cutters 5.00-6.75; bulls 7.50-8.25; some held higher. Calves salable 175: steady: few vealers to 13.50: choice quoted 14.00; few stock; calves 11.50-12.00. Sheep salable none; good to choice wooled lambs quoted around 10.75; good ewes 6.75. CHICAGO CHICAGO. Feb. 19—(USDA)—Salable hogs 15.000: total 1S.500: generally 10-20 lower than Tuesday's average, fairly active at decline: top 8.10: bulk 1SO-240 Ibs. 7.80-8.05: most 240-270 Ib. butchers 7.7090: 270-330 Ib. 7.50-SO: good and choice 160-180 Ib. lights 7.50-8.00: most EOod 400-500 Ib. nacking sows 6.90-7.15; lighter weights to 7.25. Salable sheen 5.000: total 6,000: late Tuesday, fat lambs mostly 10 higher, extreme too 25 up at 11.10 on load good to choice 89 Ib. fed lambs to city butchers: practical shipper top 10.85; bulk good to choice fed wetserns up to 103 Ib. 10.85: medium to good handy weights 10.50-75: today's trade, fat lambs opened strong to 15 higher but all Interests not yet folloxving and some bids only steady; several loada good to- choice handy weight fed wooled iambs 11.00 to packers, some held higher, few sales medium to good handy weight fed lambs 10.75: no early action on limited supply sheep. Salable cattle 10.000: calves 700: fat steer trade slow, weak to 25 lower: some bidding fully 25 or more lower: mostly steer run with killing quality improved 3 steer grading good and choice in liberal supply, mostly 9.75-13.25 market, with 35.00 bid on prime steers: medium short feds 9.00-10.00: all other classes cattle fairly active and strong; choice to prime Nebraska heifers held above 12.50: bulk heifers 9.00-11.00: cows relatively scarce, strong weight cutters on common beef cows tvpe to 6.25: few canners under 4.50. most desirable • weighty bulls 8.00-15 with S.25 paid: choice weighty shipping vealers to 14.00. the price paid more freely. DENVER DENVER. Feb. 19—(CSDA)—Cattle; Salable and total 1.300: calves: salable and total 200: bulls and vealers fully steady: common to medium bulls 8.407.00: practical top vealers 13.00: little done on other killing classes: talking weaker: few beef cows 7.00 down: stockers and feeders steady: steers 11.00 down: few light Block calves up to 13.00. Hogs: salable 800; total 1.800; unevenly steady to 10 lower, all buying; good and choice 180-270 Ib.. 7.40-7.75: early top 7.75 to most Interests: few 270-300 lb.\ 7.15-7.50: well finished 180-180 Ib.. T.357.75: most sows 6.25-6.50; few choica lightweights 6.65. Sheep: Salable 4.500: total 4.900: opening sales trucked-in lambs steady to strong at 9.90-10.25: no carlots sold, asking strong to shade higher or above 10.63 freight paid: most Interests talking Weak: few medium native ewes 4.00. Firms Report Bond Offering NEW YORK, Feb. 19—(AP)— The Republic Steel Corporation announced today it had filed with, the Cleveland office of the Securities and Exchange Commission a registration statement covering 590,000,000 of new securities for a "broad refinancing program." They consist of 365,000,000 of 20-year first mortgage sinking fund bonds and $25,000,000 of 15- year convertible sinking fund de- aentures. Interest rates, redemption prices and offering terms will' be announced later. Public offering of the securities s to be made by an underwriting group of 139 members, the largest • syndicate in recent years for an industrial security offering. It will be headed by Dillon, Read md Company, Glore, Forgan and Company and Lehman Brothers. Proceeds of the new issues will 36 used, with $16,500,000 of bank loans, to retire all the funded debt of the corporation. SUBSIDIARY PLAN TOLD ATLANTA, Feb. 19— (AP)— Georgia Power Company, a subsidiary of Commonwealth and Southern Corporation, today announced a hundred-million dollar refinancing program to reduce )onded debt and lower its interest charges. The Georgia Public Service Commission and the Securities and Exchange Commission have been isked to approve the plan. P. S. Arkwright, president, said l he company planned to call in $80,935,000 of first and refunding mortgage bonds now publicly held at the call price of 104 1/6, acquire $34,231,000 worth of bonds held by Commonwealth and Southern and call for redemption of all other bonds of other issues. The company proposes to replace these bonds with an Issue of $101,271,000 of 3% per cent bonds maturing in 30 years. It also plans to borrow $13,500,000 at 2H per cent interest from a group of New York banks, the >rincipal to be repaid in semiannual nstallments over eight years. In addition, the company is to receive $14,337,319 cash from Commonwealth and Southern. o Telephone Firm Income Drops SAN FRANCISCO, Feb. 19— 'AP)—Pacific Telephone and Telegraph Company's annual pamphlet report issued today showed 1940 net income of $18,276,980. a decrease of $854,630 from the $19,131,610 of 1939. After preferred dividends, earn- ngs on common stock amounted to 17.40 a share compared with $7.87 n the preceding year. N. R. Powley, president, reported operating taxes reached a record ligh at 520,055,235, up nearly $2,500,000 over 1939. The taxes which Powley forecast would go higher, amounted to $10.04 per telephone, 511.11 per share of common stock and 5649 per employee. A decade ago, taxes were $6.02 per telephone, 16.15 per share and $310 per em- iloyee. The United .States Naval Academy originally was located in Newport, R. I. o Trolley busses are supplanting treetcars in Spain,

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