The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FF8 2 2 1MJ WDM. BUS. library Volume MONDAY 163 New York, N. Y., Number 4465* Monday, February 18, 1946 Price 60 Cents Copy a General Corporation and Investment News i® iv'/.. RAILROAD INDUSTRIAL PUBLIC UTILITY INSURANCE - MISCELLANEOUS - ■■T/iA Adams Express Co.—Annual Report- to the stockholders of American shares for exchange shares the American two shares been of Adams concluded was of of of companies of International Express the was of as Co. 15, 1945. deposited were company's determined American to This holdings of American International total outstanding ^eapitajl stock standing stock to 1,477,187 shares. As American investment Adams' value asset International of in tnat to now Adams for shares;- Increases the Fed. Fed. . normal Addtl. prof, exc, 390,851 i tax and surtax con for ting...'..i amort, gi Agricultural Insurance Co., Watertown, N. Y.—Report , _ 1945—Quar.—1944 $818,426 $1,901,751 i™ t : 220,451 Cr347,500 prior.yrs. 220,461 * Cr39,875 Net share 5,243,187 profit , meeting on Policyholders surplus 825,416 140,000 if i 250,000 2 . 74,942 /.. •—_VWV $479,671 share.- $0.49 61.3V of out¬ "After $556,274 30,56 deducting $248,011 income tax standing.—V. 162, 2009. p. f« •.the $2,044,537 $2.06 shares the / and out- now ■ provide lor the maturity U. Dec. This issue 31. 1, 1945, do not include $6,883,500 of the 2 W bonds 1959-62 deposited to the 4 W debentures company's in net 1946.) assets ^ t. before ' Dec. 31/44 deducting New York debt •iVVVVi.V-i.V~V-.-' $51,544,400 Funded debt and bank loans (exclusive funded $35,782,310 Baltimore Boston Dec. 31, at 1945, of $6,883,500 4'/«% due Aug. i, .1946, for payment has been provided).. "■Net assets applicable to common stock debentures 1,250,500 1 9,500,500' 44,293,900 shares of Exchange— Stock Stock outstanding.— "Net Assets per share of Vmmon stock Cincinnati Exchange Exchange 1.477,187 shs. 1,325,399 Shs. Dec. 31, valued market -on holdings 1945. at values of $29.98 : American 1945 : income Prov, International ACCOUNT FOR ~-——- Jv___ •• for Fed; inc. tax_ 40,000 V 21,417 1 Prov. 25,163 Income Common / $716,712 658,473 dividends f • 100,000. 929,736 . ' 26,781 1 >■ $872,984 Toronto ft: "11,372* 397,229 i "V 28,200 4 ■ 195,166 Stock Exchange, Stock Toronto Stock - _ Exchange Mark.^ts'sW"-- ;• • 731.638 of $2.2o4.uQGV fact "that were to the the net attention 119,7% premium consolidated in the assets, common stocks, major 18.4% items in 2633. p. V include preferred 37.1% : stocks,, and i/" ■ Co.—Registers With SEC— $10 in. cash for be preferred for dividend cash share each redeemed at and $5 the $6 are the each share of of edjustments. $7 $6 preferred, and and Any $5 shares - one preened not ex¬ exchanged redempt'on prices of $115 for. tile $7 and $105 preferred. deposited for If than more exchange, the 300,if50 sham companywill of allot old shares up to 25 shares in full and pro rate shares deoosited by a holder in excess of 25 shares. The company also plans,to sell to $7,600,000 notes and use the proceeds to reimburse its single banks treasury prepayment portion a exchange The Dec, on of 31. the and funds required redemption has company for 1945, of $2,250,000 27e% of its, retained notes and to Drovido connection with the proposed in old Merrill preferred Lynch, stock. Pierce, Fenner Beane & ,> us dealer-manager to manage a group of securities dealers ; acceptances of the exchange offer.—V, 163, p, 773. to obtain \ '.-'V s 937; -Annual Report 936. k fhe iipahcial position'of the, corporation compared wbih Dec. 31, 1944, is. summarised '•;/ Transactions New York Curb Exchange--— 93614 Averages-^—. 936 V/ - of preferred \ Exchanges-Curb Section—- 93 feu Stock and Bond premiums new called was l,; 1946. and ) for 932. Transactions New York Stock Exchange— • reserve its of new will 935 * 935 v Exchange—— Over-the-Counter and Marine company share 932 Montreal Stock Exchange-—.4.—, Montreal Curb Exchange, 1942 30,000 iv 100,000 VV for contingencies- , $1,331,529 166,174 169,032 " $804,631$810,989 /V Pittsburgh 397,271 VV 40,000 ■ Prov. for other taxes— Net 1943 $1,432,413 172,106 397,229 —— St. Louis Stock the changed, plus 931 932 932 i-oVV'V State's Tomlinson ' 921 Angeles Stock Exchange-Vi^VVVVPhiladelphia Stock Exchange—- YEARS 1944 $1,528,947 474,433 ----- Corp. fire 20 7a ; / M■" '!: .= proposes to offer in exchange the new sto-k to the outstanding 355,876 shares of preferred, consisting of 159,575 shares $7 dividend stock, 170,456 shares $6 and 25,845 snares $5 preferred, all without par vaiue. on the basis of one share of new 930 930 Los that at shares were business . preferred 929 / Detroit Stock Exchange $19.82 - (except '-"'VVi CALENDAR . $1,686,220 177,385 Operating expenses -+V; Interest respective. dates underlying net asset value), INCOME Total the at automobile Empire Mr. premium 19.1% April The 1 . "Based companies reason Of holders 929 Stock two from company on Feb. 8 filed a registration statement with the SEC'300,000 shares of 4.20% preferred stock, par $100, cumulative /from , 929 Exchange Cleveland Stock Exchange 26,281,810 • from income largely due to the ces*ation of war activities reduction in rates. Agricultural net premiums were •/- ■ bonds, for 924 ___! Chicago Stock Exchange--2«4—- which Number Curb the $24,069,720. premium %V The — Dec. 31/45 ""Total of that and 11 ',c Alabama Power 'l.f *.■; :, r:.vf;/' Page New York Stock Exchange (Stocks) 909 New York Stock Exchange (Bonds) 920 their at by for assets record new some, cash of 9.8% .—V. 162, Stock and Bond Quotations Government payment of Aug. on of S. as of value unearned return.' following tabulation indicates the asset coverage of company's outstanding securities at Dec. 31, 1945, compared with Dec. 31. 1944. (Total net assets consequent Combined a out of larger writings of three-year and live-year '•,i',■,.•; '■;•• In speaking of investments, Mr, Tomlinson pointed out that the '' average yield on cost was 3.46%—a slight shrinkage from the previous -/year because of the difficulty of finding sound investments at higher The market declined /■'business. • !,• lines increased increase "V net In pointed r <89,0i5,000, and the pi In this connection, .J< - , '-f,* If? by , $2,567,000. Tomlinson - business subsidiary, at Mr. allied $2,030,716 $2.08 tOn 984,324 Empire State, Vwent;up $2,344,000 to reach . the American International, instead of at market value as heretofore/? This is in conformity with the provisions of the Investment Company Act of 1940. On this basis, the net assets of company at Dec. 31, 1945, taking market values for other security holdings, were 851,544,400. high in surplus, assets and premium income was; this company and Empire State Insurance Co. at the Feb. 6, by Harold W, Tomlinson, President. for the Agricultural reached $9,774,000, and for for annual 4,819,500 . 381,848 ■■■# "74,942 jNet profit per all-time reported 87,925,632 ;; company's valued An ' 1,164,890 • " 1945—12 Mos.—-1944 $8,384,514 having one or profit shares //Reserve 151,788 company's owned is Net shares' the increases shares reported as of majority a of 213,786 of exchange for ratio of exchange 612,686 and corporation's shares the is total acquisition the value asset A which on for. treasury stock, the be 71/100ths of a share International. basis Gross their exchange to 1 Period End. Dec.31—; made by -company was Corp. The > net relative Dec. International offer an Earnings— s,tenel °°- ..w, During the latter part of the year, ' of! Dec. as 31, Dec. -as';5 1945, follpwef as t - - 31,.,'45 Dec. 31, '44 in affiliated co,—Blue Ridge Corp,4 $17,917,000 $12,464,000 ;iInvestment in North Amer. Co., common stock12,735,300 9,070,675 ; All oiner investm'ts, plus cash and receivables/ .it nnd les3 lia'oilities other than bank loans ' / Investm't Surplus V- 2 "$46,752 $9,465 Outstanding com. shs.— 1,477,187 1,325,399 Earnings per com. •"After 1941, crediting amounting sh.—V/-- ' $0.60 $0.59 ision provision excess $79,351 for 1,463,400 f. Federal $0.55 capital '■ tax v " . ' 1945 - Govt, Accrued obligations interest Amt. receivable Accounts in Inv. ' State and City Bond Offerings and Sales— S. and 40,787 __ (not deliv.)V Securities / 324 Corp,i/—2V| i"/ 100,000 28,989,856 — -——V_V— Federal 28,082,650 ; 944' _. System——*———-- 944 . / 4% 4% trust bonds/due 1947; bond3, Accrued interest, Accrued taxes Reserves , inch and for Common due due unclaimed contingencies-; "f — Aetna Life Insurance Co.—Personnel 1,375,500 6,883,500 The directors of the Aetna Life Affiliated with trustee of 4\\% Addi essograph-MuItigraph for .Jan. nn 1. "V-w- *¥ft • Appointed due 162, p. 3185. ■ ■/; SPECIALIST .is made, ' municipal ; . ' shares 4,61,: Dec, table the net assets at Dec; 31^ 1944 are adjusted ; to. lor purposes of comparison-with net assets at / Dep. . - with fOr retirement was newly Mr. Provost, life agency in appointed were division the G. members Albert and i Dr. casualty * ot the Lawton, named Field Supervise? in/hey R. E. Swarts, named Assistant Surgical: claim division.—V. qAllen & directors of l0;',"'Wn«cf claims in a of interest, against staffin .addition official board The regret. The % 163,.. p.: 645. ..; u JERSEY;/?'/ department „ 2-2Rnn Ridge Corp/has authorized Harrison American Cities Power and Light Corp. and others, and after 1929, ■' NEW '•'??/" rails ?'v?;?i§Sii|i iip; Compan y * INCORPORATED - : t Members New York Security * Dealers ' the on While basis no 46 NEW YORK 4, N. Y. RpU Teletvve• NY 1-573 Telephone REctor 2-3600 NASSAU . STREET, NEW - > f Association YORK Philadelphia Telephone Enterprise 601$, 5 : Bell, Teletype .? INC. . .. PROSPECTUS ON REQUEST , ? ; • ' HUGH . W. ,/v New York 1-676 ! 48 WALL STREET . the William^ H INVESTMENT FUND !. , Kobbe, Gearhart & Company YORK STOCKS, DIVERSIFIED . er Blue Corp., ELECTRONICS INDUSTRIALS *! ?7 Established 1922 BROAD STREET of total amount of Electric than $14,000,000 exclusive not less Central States berf§j'iji,; .transactions.-.occurring .in', ' Tp)0nbavc 167,485 * INt Mnaicipal Bonds v 80 and J Director FLORIDA & NEW . the. above 31,,,1944 , Feb. .12 V r request Corp.—Trustee Old Colony Trust Co., Boston, Mass.,-has been appointed trustee issue of $2,500,CJ0 ?0-year 2%% sinking fund debentures 1966.—V. ' eliminate $105,439 market valuation of 421.757 shares of common stock of Central States Electric Corp. then held in the portfolio. - This adjustr ment on shares outstanding. Dec. . ., payment on Aug. 1, 1946.—V, 162, p. Jriie $130.61, 9.37 int. - Total "Deposited /-V* Changes- Companies $215.32 (' • 'f ; Ci f $1,241,500 10,510,000. '.V, 31. 1945, *■ / made six promotions in the official staff of these companies, named CK-Net .income.,for the year 1945 (excluding net V 163,782 profit of $841,725 on * 162,372"' ;. threfe new officers and approved one lequest for retirement.; sales of securities): after deducting all operating expenses, interest r 86,505* "i52,916 i In the Aetna Life Insurance Co., H. E. Wright >as elected Auditor: and taxes was $2,156,996, equivalent to $12.88 per share of 172,489 '124,024 outstanding , A. H. Moses, Assistant Treasurer, and Cashier;, L. E. Ames, Cashier;/ class A (preferredi stpcks, and after deducting all class A stock 1,477,187; .1,325,399* and F. E.. Provost,'Assistant Auditor. All four of these officers were / dividends; paid or declared in 1945, was equivalent to-29.5 cents ppr 20,828,293 17,479,994 ,; elected to corresponding positions in the Aetna Casualty & Surety Co.,/ / share of outstanding class B (common) stock. ^ :/ 4,353,418 ;p 4,407,670 and the Automobile Insurance Co. \ ' C Included in the income account was $1,430,244 received as dividends" Other promotions in the official staff- of the Aetna Life were I from Blue Ridge Corp. during the year. These dividends were made-' $41,215,675 $33,052,874 Dr. K. F. Brandon, elected Associate Medical- Director;, and E, H. / I made up of $495,4^4, representing the then markett value of 6,232 : Warner, debentures to provide for their .Manager of the mortgage Moan department. ' < /shares of United Light and Power preferred received in March and • In the Aetna 3085. xCasualty & Surety Co., A. W." Waite was elected $934,800 in cash received in December, -1945•....:'v.%"■ ,;/• ? Secretary of the compensation and liability department, succeeding Harry A. Arthur, President, states:' /" ■ -*• v Secretary F. E. Barber, whose received matured expenses. stock Capital surplus Earned surplus $1,241,500 1,375,500 6,883,500 4,633,500 1.948. 1946-. 8.882,917 | 1945. In 10-year 4U%/ debentures, 2'2% loan, due 1954. = 2,600,0p0 > applic. to cl. B (com.) stk. $27,180,182 $13,391,720 s outstanding) * 31. 'LIABILITIES- Collateral dividend™. assets j Asset value per share: ■;•/',:v-V'Vws/'1' /Class A (-preferred) stock Class B (common ) stock (2,901,940 shares $41,215,675 $33,052,874 Collateral trust ; 'V; "183,000 'Total accrued Balance—net Statement of Member Banks of Reserve bank loans™—1,800,000 prices and . 6,903,914 securities Banks Reserve Condition 4,967,045 i bef. bank loansaccr. div. $37,863,099 $26,501,720 assets Deduct: 940 - . 7,160,799 , Balance—net assets avail, for ci. A (pfd.) stks.' $36,063,099 $23,901,720 class A, (pfd.) stocks at liquidating • * : Combined Condition Statement of Federal VV'V. 200,000 bonds———-2. Deduct; 938 Foreign Exchange Rates 39,103 ; 57,616 receivable1 (other)-. Adamex Government Other dividends—-——— net dividend ' 941 — The Course; of Rank Clearings— \ 3,065,239 accrued Total 950 Sinking Fund Notes— 940 | Dividends Declared and Payable $1,765,880 2,267,984 for securities sold Redemption Calls & 1944 $2,755,194- S. U. 893 JR and -v fe's; n COMPARATIVE CONSOLIDATED, BALANCE SHEEET, DEC. 31 ^ASSETS—' . in to $12,000. Cash U. Miscellaneous Features $0.48 stock .... « V $58,239 1,463,400 : NEW YORK 5 LONG and INCORPORATED COMPANY ■ €34 SO. SPRING ST. LOS ANGELES 14 of suph , THE COMMERCIAL & FINANCIAL CHRONICLE 894 \American At CALENDAR YEARS income 49,500 do'snn 39,500 $2,156,996 $923,285 $773,281 $669,934 4,261,382 — 3,726,744 2.885,523 2,977,021 378,156 241,640 Previous oper. tProfits surplus,^ sale of sec. on . §Excess which first 109,273 *■-'* ; tLoss Jr\> tWrite-off of invest..,— 467,440 — 31-SI- Balance, Dec.. 164,803 ♦U. 84,948 S. 7o9,'<82 y net ♦Asset $2,885,523 $3,726,744 $4,261,382 $5,960,842 - surplus ■ :—— 1-- $961,415 possible order. reasons ,* as possible. market on , , the of holders 1945 10, . Fees •. - -; exchange of shares offered by The Adams Express of an Corp.; American International " ' — v Bond Other Net V' transfer 7,206 valued securities With market at 11,557,772 Interest - 13,234 192,021. debentures..—————— on for income ' - Balance : .. of income——i.— Net realized Adjustment for reserve Total stock, were offered series recovery;of taxes" New 1,405,588 .. Premium June paid Adams 7,478,898 paid Fed. ♦"Before profit $100 . , market date : would i ' Of value $25.33 been have INCOME applicable assets net -y:vy. Cash dividends Divs. rec. ASSETS— • : .; •. : S. book $7,603,226 .. interest sold—'not 208,976 Total interest 1 " LIABILITIES— unclaimed including — $18,026,988 $18,811,168 ' ' - y 11,355 131,066 $8,521 $3,714 80,705 $525,437 $697,619 $653,923 Interest on bank loan- 33,525 35.411 37,339 39,367 35,551 30,241 5,805 8,019 : Expenses Taxes v paid and accrued , ' '! 29,864 12,303 70,220 $553,728 293,475 319,050 !• 298,410 78,306 ' 82,000 on Div. on pref. stock— common stock- 216,245 .. 5,350,000 Earned delivered securities on against sales, SHEET receivable $2,000,000; common —V. 177,250 net losses of 31, cost—quoted sold, $8,104; no par), $354,500; option securities, Dr$8,109„299, for expenses Net for income taxes— taxes—'—i— f — prbfit share-. — 162, p. 2634. American Ice . .v'jitll '. ' -:.ci • $374,048 187,024 $187,024 — $0.14 1944 $426,703 213,351 redeemable preferred the ' , stock on a share for share basis. .?.* ••") of the company that all the preferred jstock, includ¬ ing the new shares, may be redeemed within a short time and the company have outstanding only its common stock.—V. 162, p. 2634. hope five the years INCOME prof, taxes profit $364,252 Hermann, 1943 1,084.005 744,995 22,165 S. C. . ".. 1942 $3,036,890 $5,297,146 746,008 519,070 9,396 its - George Production income varnish at Amer/jan 304,931 r_ for the ENDED 1943 for 30 SEPT. \ . 1942 $96,773^63^ $67,095,720 50,123,971 393,868 1.900,796 . 2,570,502 2,042,212 ' " $13,0*8.741 317,190 200,553 $12,023,828 $14,322,812 $18,305,522'$13,229,294 Fed. 8,922C taxes*.- ; w 12,735 t9,978,000 6,970,700 - l99,369; ¥ 11,235 9,695 'j;$ tl4.850,20D 9,600,000 231,671 8,863 - — 104,972 — 613,250: 691,544 —C 1,319,991 refund ~~-i-'-V • ——' —» Crl,334,066 profit—______ $5,240,034 i' $2,675,383 2,374,930 .Surplus $2,752,543- 2,374,990. - $2,906,343 2,374,990 $3,855,044 $300,393 stock__ 1,187,495 1,187,495 $5,25 $2.25 $2.32 common mated post-war tAfter renegotiation Federal taxes credit and of minority $885,115 in Government renegotiation amortization proclamation. of of ■ and contracts. for prior : " JiClaims $2.45 . tAfter 1943. refund, of from accel¬ Presidential ••,.-*- SHEET, SEPT. 30, Feb. 5. ... > . also expanded by Kansas Steel $169,362 and R. L. The officers who have the construction of new • Foundries—Annual Report—Thomas The company's net sales for the fiscal year, S. Government - securities, at cost $12,112,101), $12,101,276; accounts receivable (less re- * $13,081), $6,264,885; inventories, $6,235,574; investment and securities, $1,390,493; land, $2,206,125; buildings, ma-U chmery, tools of serves and equipment $23,635,062), ferred charges (after ;384,371; reserve for taxes cperating depreciation and amortization $10,757,265; to operation's, patents and goodwill, total, $46,213,478. , $267,055; (other reserves, re- $1; de¬ %• f $2^ $2,251,145; payrolls accrued, V than Federal income), $1,071,701 p $2,047,621; minority stockholders' equity 1" sub¬ (capital stock $55,150, capital surplus $17,357.;V $36,36U>;' $108,873; capital stock (1,210,103 shares'par), $24,202,060; capital surplus, $4,310,194; earned surplus. $10,-' consolidated no surplus Dr$452,160), total, $46,213,478.—V. 162, stated value 1386'. p. : (22,608 shares)* ' American Telephone & Telegraph > The company on Feb. tail let System the Mobile proposed 11 announced the Co.—Radiotelephone Issuance of Radiotelephone Service," service which has been (1) describing announced, pamphlet, a in and some (2) the As of Sept. 30, 1945, the .balance sheet of the Includes, as accounts receivable, cancellation claims amount¬ ing to $2,087,000 that. have hot been finally settled with customers, principally prime contractors. Unfilled orders at the close 'of the year de¬ leaf¬ a giving specifications for one type of mobile radiotelephone suitable for use in the, projected service. This also ment equip¬ contains of names extended ../> r;';. '•*; : cities where trial ; -: basis.—V. it is planned 163. p. 461. to introduce the service on • . . \'.4 •. 1 . » an , ^ i • American Water Works & Electric Co., Inc.—OutputPower output of week ended Feb. ■under the output 1945.—V. 163. A. P. W. 9, the electric totp'ed 19-") of 87,476,000 properties 7"*.499,000 kwhs. a company for decrepspvof corresponding to sales Interest of July X '44 to 'July 1, *43 - . July t, '42 to Jan. *3, '45 Jan. 15, '44 to Jan. 16, '43 $2,203,961 expenses Operating profit Total the 1C8% week Products, Inc.—EarningsJuly 1, '45 Miscell. this ^ Dec. 31, '45 and of kwh. the 774. p. Period Cost for earnings —... — $2,591,470 $2,779,739 $2,300 813 2,098,783 2,416,184 2,646,693 2,116 998 $175,287 $133,046 $183,818 15,518 36,527 23,955 jDrl,883 $120,695 $211,814 $157,000 $181,033 75.613 94,596 99,034 19,000 57,000 25,000 V $105,177 1 *=- (net) for August after V-J Day. • 1945 value, of serve V were v esti- ' in for arising pursuant to % 1,187.496 • $1,490,808 years facilities emergency $377,55?'$234,477 stockholdings. 1944 - 2,671,866 1,187.495 Earnings per share_*— ''Bell before deducting provi¬ renegotiation, were $74,234,000, as compared with $80,971,000 for 1944. A large portion of the company's unfilled war orders was canceled in June shortly after V-E Day, and most of the rest in ; income $1;,788,837 813,928,944 $17,988,372 renegotiation Net Drever, President, states in part: sion YEARS ' ^?*co3;„^om.mon, stock ln treasury afc City, Mo., and Ottawa, Canada, and a new plant at Chicago Heights for the Keystone Asphalt Products division. Construction of additional buildings at Kankakee, 111., and Marietta, Ohio, is already under way, and a program of improvement and expansion of all plants will be pursued during 1946. The company is also increasing its distributing facilities and expects to add during 1946 to the ten distributing units now being operated in key cities.—V. 162, p. 3187. plants net 1944 '' cos.»- Common- dividends; purchase during 1945 of four companies expanded operations into 'Canada and the Pacific Coast. facilities total " 257,242 $217,541 'V LaVallee, : . company's manufacturing the ACCOUNT, • Disc, on saleSv--—> Loss on sales of 8ec,, &c. Misc. deductions*—J 426,604 - $316,845 ; Beaver, reelected directors on were Eathings^^tc^dK 1944 —r.-- M. y'- ~ & taxes— interest U.S. < % , were wide fluctua¬ to year,. and in addition to the loss ended Dec. 31, 1935, there was a loss 60,464,867 expenses—,.* Total profit company is for year . Net options effective Nov. 19. 30.408 shares have been redeemed i for cash at $100 a share and 5,361 shares converted into new cumu-s It from Net pro*'.t from oper- sidiary , Co.—Redeeming Preferred Stock— "!^'r r < 74,673.144 * $213,351' $0.18 exchange lative 1945 $13,438,657 $11,389,058 1,217,467 853,215 profits Ohio.' land, has redeemed for cash or converted all but 20.722 shares of its old non-cumulative and non-redeemable preferred shares,! an official of the company stated on Feb. 13. Under surrender or The Grover The 1945-id 31— other than income Earned per common —V. -v— profit Oughton . . f previously served were *reappointed. Kenneth E. Clarke was made a Vice-President in charge of the Fer'oert-Schorndorfer division at Cleve¬ Operating profit after repairs, deprec., and res. Reserved 1 $8,741,003.—V. American Hide & Leather Co.—Earnings— Dec. > >• • Ended Net $615; warrants, total ' ^ Months Minority interest, $1,458; total, $8,741,003. 162, p. 3187. 6 —: Inc. and exc. $13.- V accrued Sdles and American-Marietta Co.- excess value income 7,606,226 $18,026,988 $18,811,168 .. Years Ended Nov. 30— 1945 market 1,000,000 2,531,186 9,047,773 162,. p. 3065. Sales undisturbed investment income, $1,906,677; $9,785,010; sales DEC. 1,000,000 — ' ASSETS-^Cash, $6,990,804; ^- U.; 2,531,186 —— — 2,428 • ' \ ' v .-1,641,660 ..earned »■ losses and $13,887; ■ accrued expense, $11,961; secured bank loan—due July 1, 1950, stock (27,609 shs. no par), $2,760,900; $4.50 (354,500 shs. on gains taxes, $16,752; preferred stock capital surplus, at securities for OF banks $197,858; in LIABILITIES—Accrued payable, AS securities, cash $8,533,583; accounts determine (1,000,000 shares no par)_ Earnings bef. income ASSETS—Investment accounts used to 1 : ^r.^^?IL^TIE^~Accounts Payable, sold. BALANCE 839,715, was 10.3 208,320 o,724 16,674 13,615 miscellaneous .1,900,000 stock Total 300,000 177,250 21,438 - (market 5,750,000 due June $487,210 ' •Computed without regard to net profit on sales of securities in the amount of $713,247, (1944, $547,332) which was credited to surplus. ' The actual cost cf the securities, identified by stock certificates and bonds Adams Express Co., surplus surplus Capital , income •Net Divs. 12.8 CONSOLIDATED BALANCE 1954 30, Common 8,050 $500,961 208,610 taxes— 20,176 $11,281 / - —— loan—The 4 lA7c 25,021 7,454 $438,253 income Federal , 1952 5.0 15,235 3lA% gross Declared $17,358 7.8 • 60,000 loan—Bankers Trust Co., due Jan. 1, 1954 loan—Bankers Trust Co., due June 30, —; 3% 137,479 \ 34,315 for contingencies Reserve $641,649 • . and accrued taxes & exps. accts. payable Other 15,195 57,269 Total ; erated . $616,914 < matured .interest Dividends % of Net Amt. *4.9 •Appertaining to outstanding - $3.08 year-—$2.00 ' and Shares 1,086 1,279 — —— r - 11,281,206 64,263,748 39,662 961,415 '44,732 ^Acoounts - receivable—other Accrued 2,100,891 *,'/-• 'delivered A _ 9,133 \ above 1943 225,459 1,841,375 —-———- securities for receivable Amounts ■ dividends and 1944 50,283 — - Additional provision for 1,100,000 * — " ■ *2,494 12-31-25—— liClaims- for Obligations ■■ .., 12-31-30—159,105 $14,763,859 $15,493,139 , * 17.358!270 50,608 12-31-35——— — 31 DEC. < =-$343,692,140 39,854,002 12-31-40-^—117,013 •Net*earns, of sub. values: —— • : ' re- Depreciation a—1,315,450 *! 1,394,233 Amort, of emerg. facil.; 164,317 1,383,872 400,000 : 1945 Securities— Government Accrued ' income— Interest ' 3,300 $9,047,773 - Cash . * $$ - SHEET ; which the method surplus.—— stock per common Miscellaneous Allied Machinery Company of America ; - .,1943 1942 y.; $511,503; $488,975 —— ■ U. ; ; that • YEARS earned 1945 396,900 • 1945, year 5% 28,000 .1——-r—v BALANCE ~ Portfolio General - stock on . CALENDAR .19451944 $468,168 ——. securities- in FOR stock common share. per ACCOUNT the to $8,403,126 from security transactions. loss and Inwestments-f-at > value,; stock. The $20.19 per share, per to Gross sales, less dis¬ counts etc.————*$73,733,531 $80,970,797 Dr2,753 ' to $26.08 per share of common comparable net asset value of the common stock was share as of June 30,1945 and $17.61 per share at the close of 1944. If all warrants entitling holders to purchase 20,500 shares of common stock at $12.50 per share had been exercised oh Dec. 31, 1945, the of of year-- fiscal , , net Reserve Earned' surplus,.end of assets liquidation, is equal to $434.81 per share of preferred deduction of tne preferred stock at its liquidation after of i» in Costs L——„ debs.u— inc.; taxes for prior year— the employees-^-«---i_!;i_i-_.i^ii 146,125,194 - from loan redemption of 5V2% on for addit. Prov. of redemption on - and, of all CONSOLIDATED ' 551,068 • 450,000 Express Co._— Premium applicable to its outstanding capital stock as of Dec. 31, 1945 This figure, which is intended to indicate approxi¬ value rather than the amount which could be obtained in actual r> shown 33,000 stock— common in¬ $375,913 $9,539,073 on ^ year on . .. •Loss. ' surplus Dividends paid fiscal taxes the of $1,750,000 for 1938, which reduced five years ended Dec, 31, 1940. 16,484 > York ; State; —:—-—. COMPARATIVE net ■ . r;'. investment Americai.:_———.—_— Machinery Co. of from transactions—_i*c in Allied the During much of the above 25-year period there $375,913 $477,775 7,606,226 security gain on of for Federal lneome-ii*,— on 5 years to 5 years to 60,000 Co.—Annual Report— the show nationsr carried years to 20,712 $537,775 contingencies. allied $ years to 217,082 19,874 ♦Net income for year- for the company's liability computed in accordance with for previous years. - .. 19,500 Kx'.;:- —— for Provision alphabetical quotations, refund for ' , alphabetical preferred renegotiation a Period Ended— Net Sales 4% years to 8-30-45——$346,692 97,748 tax—— taxes-J—-.'-—'. other $1,200,000 reserve —Net Income— . 40,599 - ; of 1 3,903 4,019 28,177 etc Co Trust * 4% tions $12,004,535. mate is electing to recognize In increasing our claim $1,319,974 to $2,165,365 for the result considering the relative signiticance of the above figures for the years, the following comparison with earlier five-year totals is presented: (000 omitted): last 13,448 10,654 Express Co, refund a 11,800 - loan—Bankers on Provision company were v In r 8,700 , expenses loan—Adams close of 1944. the - President's amortization of emer- of net sales—- „ expenses on to following figures Per share i 1944 23,963" taxes, cover income *fe agent ?\ expenses—fees, redemption Interest share and accrued dividends. The $4.50 pre¬ of which there are outstanding 27,609 shares, is' similar in all respects to the former $6 preferred stock with the exception of the dividend rate. Payment of the $2,334,310 required for redemption of the 21,221 shares of $6 preferred stock not ex¬ changed was financed in part with available funds and in part through an increase in the 2% bank debt to $2,000,000, which com¬ at •. the company Per share of common stock per year. and paid .76,998 ;■■■ _ registrar, —_ indenture 4,261,382 1945 at $110 per stock, series B, with $1,700,000 the fiscal deduction Dividends- declared $839,104 6,000 custodian Interest ferred pares of this a the company had provided for that year. This compares renegotiation refund of $15,200,000 for 1943 and $13,500,000 for provision of $500,000 has been made in the company's ac¬ Federal taxes . 66,760 —— — of expenses agreed year Total compensation ' $8i)6,981 — • and 13,910 share for share, into a new $4.50 preferred stock, and all stock not so exchanged was called for redemption on B, Under the to in with 4% Years Efid. Sept. 30, 1945— ' Net sales after deducting provision for refund due to negotiation of government contracts-*!; ' is not always exchange, 30, $1,383,872. the amortization deducted was compares A for und $13.98 $20.30 - Legal fees :'•> $6 of Net greatly bene¬ company's operating results for the eqtire war period, including the fiscal period of nine months ended Sept. 30, 1941, during which period a substantial volume cf war material was produced for the defense program of the United States " May of 1944 balance which which : five the purposes. which a The 3,763 t ,, — transfer On than followed 4;793 7.650,000 - Credit an in purpose The facilities, $164,317, which was charged against the covers , , ' income 65.362 ' fiscal counts to debt: values at the ■ respective dates.- ' '• shorter to 1942. 7,650,000 5,350,000 — of 1' 1944 • "Trust yy. American European Securities policy. only from with '$5,350,000 v:'v :' 4,736 stockholders and . it ; 1945 Directors'-fees of Dec. 31, 1945, as to arrange companies in exact However, they are always as near position to will come 2,101,721 1945 $26,270,166 $26,077,563 $26,410,221 mechanical this of emergency the deduction of amortization *1944, COMPARATIVE INCOME ACCOUNT, YEARS ENDED DEC. 31 L 77,250 ii,2itt,oao NOTE—-For policy of amortizing its period a 1945 in determining taxable net income. This election will also in adjustments of taxes an^ renegotiation refunds for the years 1944, inclusive, amounting to $1,334,066. Under the provisions of the Renegotiation Act the company during 21.637,473 ——_ result of a to 2,600,000 5,960,842 aggregate market value was $34,878,450 Dec. 31, 1944—V. 162, p. 2138. ♦The of accelerated 31,'45 Dec. 31,'44 $1,841,375 Provision for Federal and conservative basis facilities for tax purposes, amortization, which gency 2,828 7,476,940 ;•. — in same 13,987,473 $24,948 .—•— - T0tai the the on f proclamation of Sept. 29, 1945, in regard Dec. at ——— Total ; QQn surplus Capital figures stock—,—20,308,359 • $26,270,166$26,07.7,563 ------ . stock the . the Dec. ' 155,965 payable and accrued expenses-—— $13,887 Notes payable to banks—-—1,800,000 Dividends payable __.-__--v.-___--—-—-• 69,364 Reserve for income taxes—. 118,424 Due to brokers for securities purchased—*.— Earned pertinent stock—— Corp. 3,423 Accounts Capital result a amounted year, for corporation has become a majority-owned subsidiary of The Adams Express Co., which owned at Dec. 31, 1945 61.3% of the stock of American International 140,770 ^79,024 V r ---------- --- --------- as investment 1940 common Salaries , the _ loans: 31, ♦Based 1944 dividends LIABILITIES— accounts own result common Co. receiv. & accrued int, ,14,812 Due from brokers for securities sold-*.—. -----U. S. Govt, securities——-—2,uuj,20u Total its facilities for applicable to As 1945 and Dec. $23,170,080 $25,776,405 - — Cas^r ——I-Aocounts fited the ♦Net assets per share of ♦Net assets SHEET, DEC. 31 BALANCE in emergency of one income followed more from as compared with at the beginning >r'■' '■;;-vv.".,t .-*/■'. in the consolidated statement regular products years over which amortization was then allowed for tax income for the fiscal year 1945 of $4,905,968 has been and the, othera like in May, 31, 1940—$5,350,000 31, 1944——--—-— 5,750,000 Aggregate set up on books. ASSETSwdmenfs summarises for each $1,000 Trust Co. loan: . ., •fysgyDec. 31, received in liquidation of Electric ♦ directors of regular products) and principal adjustments reflected •1 V[i relate, directly or indirectly,\ to the amortization of the by the company in emergency war facilities. As inrdicated in previous reports the company early adopted and consistently', Corp.-—Annual Report— coverage Dec. amount, purchases. ^Excess of final dividend Power Associates, Inc., over amount quent meeting, same for amounts invested ^ before assets Bankers . ■ shares of common 421 757 nominal the / (all equipment war The ;of • , obligations-——1,102,353 deducting loans 25,658.359 Government Aggregate loans stock of Central States Electric ^01Ptin 421,757 shares of common stock and 6,000 shares of preferred stock of Central States Electric Corp. tComputed on basis of average book value, based on April 29, 1933, market prices tn investments acquired prior to that date, and ccst as to subse¬ ♦In at election February to the first Monday hand—*.. on uec. at voted annual and agents '» v 162,**88 304,368 756,128 543,13j ' its serve demand. were the cf following tabulation 1945 and 1944. ♦Total optl. div. stk. A date , A class series paid in cash stock CI. ! ' . . ——■—— conv. ;:,i.: . — (net) on Monday in Cash sales of secur- on amendments the better to $J,'.6o,108 $3,973,981 $5,033,190 $7,260,104 - — ities arrives The 31, Divs. charter changes time growing public a American International vestment Total 1946, $16,000,000 for year, year 5,003 —— the meet in¬ of 11, removes an unnecessary restriction against directors holding office in any other fire or marine company.—V.' 163, p. 305. - 3,881 73,537 when Other the of , adequately to $44,000,000 adjourned special meeting of stockholders held Feb. an amounted J.-—Amends N. was prepared — Adjust, of prior years' capital stock tax—— ♦Reinstatement ,4~ / , conting.— for reserve 841,725 from transferred Amt. 181,779 b5,000 96,750 ■ Net $891,213 $1,139,766 143,855 Oper. exps., taxes & int. Prov. for income taxes, 1942 1943 1944 1945 $2,397,602 interest- Newark, 'i;.V-"1 pany ..... ACCOUNT FOR INCOME and Dividends -".v.'. ... voted to amend the charter of the company to enable the com¬ to-do a multiple line business. ' , /< , 1 By recent enactment, the laws of New Jersey authorize Fire Insur-; ance Companies and Casualty Insurance Companies to write all kinds of insurance heretofore written by either of them. Taking prompt action to broaden its charter powers, the American has anticipated a new trend in the insurance business. Through mul¬ tiple facilities and combination policy coverages the company will be it Ridge Corp. stock of Blue common ; of Co. Insurance Charter-—' •• Monday, February 18* 1946 income „_ , charges — Provision for Fed. taxes 1,:;0.)48 . . 27,761 company * Net —V. profit 163, p. •;--7 , 186. $26,082 $60,218 $32,967 . $4,024 ' Volume i THE COMMERCIAL & FINANCIAL CHRONICLE 163; l'Number"'4465 American Power & Light Co. ■ Subsidiaries— w5 > i.:: Operating revenues—,,...,. ^ (■*. ,, • ^ . expenses 33,262,913 Federal-taxcs__j_^^'-;-_i 34,837.535 135,099,106 55,758,211 2,490,556 53,065,745 18,710,458 9,852,048 1 9,958,713 2,919,308. 10,484,005 In 140,7*2,532 13,878,040 11,719,351 Other :5,228,7B5 2,577,693 depletion reserve Net oper. Other to L_.— de- Income public, 397,102 Mr. of Amort, plant Balance 21,846,739 -6,003,739 5,264,753 '-i - Income1 divs. to 1,382,339 1,536,195 5,639,530 4,467,544 NOTE—-For 24,484 .V.'.'[■■■■ ■/'•v >' the 16,660,861 16,207,893 51,360 79,316 145,276 571,882 2,239,950 77,604 65,646 268,031 3,723,886 3,326,197 •FulT dividend requirements applicable to earned or unearned. and result of volume is as deductions the with for approximately< $250,000,000. were $106,002,204. for total the billings and Federal share per allowable for refinancing in of the At "Interest effect respectively, of to debt public and other "Net equity subsidiaries." this and "Net equity of American of (net)" of American Power & Light Co. supplies purchased and profits excess taxes of alone 1943, FINANCE—The AND Baldwin and is consolidated the after U—u 163, $511,261 — 2266., p. $7,317,748 of facilities— emergency of the the year. This per share on ASSETS— Cash with compares 1,274,152 shares owned billings equal 1944 $485,567 — liquidation, $650,045 estimated 80,850 and accounts offers to receivable.... 80.850 213,673 purchase ~5"666 50,500 receivable 35,728 646*.210 1,055,822 and interests profit a on Dec. Due therein, at cost in of 381,893 193,966 2,827,657 2,002,185 . U and bond prod, on purchases— Due contracts in Reserve (at accounts cost)—.— 1 V , and others taxes equipment (net)—;— Deferred charges 32,387 ■ 972,674 31,706 1,033,204 321 KR4 10,000,000 10,000,000 3,000,000 3,000,000 7,237,891) 3,587,530 ..^l. — (par 4^1 296 13,276 .i.—. expenses...— income ... $50)— — . —— Brl,613,615j $21,130,957 $18,111,131 162, 563. p, i' "Oct. 9,'44 from bank stocks... Interest'. ■Provision Interest $42"* 051 4,880 (net) * ' $95,943 12,265 54,42£ (v 910 • ' $427,941 45.446 , .—...J fees sale on 13,801 expenses fees Directors' Loss income and Trustees' tu "Oct 9. *i»4 . Miscellaneous Salaries tDec. 31,'4'1 to Dec. 31, 45 Deb. 31, '44 $613,890' $94,227 .171 806 " Dividends of • for '3.800 z £ v temporary taxes. 4,050 x invest. '? " 800 ' * - :—J„■ paid 32,699 ■' 3 029 4,858 ; 39,233 ___£u£vf(;vxv:-2,766\ '' " * " '■ '' " ...$533,918 ' Deduct;dividends.;declared.l££^££R ' " ^Report >'of. .Baystate Corp. tFinal Associates, predecessor company. report "" $78,020 449,277-' . . of $936,433 112,862 282.156 Old Colony Trust * '. ' * * BALANCE SHEET. DEC.'31 .ASSETS— ; in. shares of 11 banks Unvestments Bank of 1944 1.945 flnvestments capital stocks of '$11,688,040 $11,160,373 —u— in capital stock of First National Boston...— w—— '->**■ i,060,000 540,000 Investment in; 4,035 shares/ each $10 par value, of capital stock of; Qui ncy Trust Co., ' ' ' Quincy, Mass., at quoted market price —:■■/.' United States obligations......" 58,500 296,553 . . , ?• 1,090,719 Other 32£317,630 165,147- 97,502 34,022 ... Year 1/236,150 32,307,394 2on oao •' 8,538 Ended and accts." receive realizable within one-year———. 1 26,580 profits tax post-war refund credit—— 1,315,136 Investments —1,219,783 not $328,096 37,500 x- surplus - .35,349,315 Excess $407,468 —. Baystate Corp.—Annual Report- , 61,322 17,679,369 21,136,844 25,059,097 53,102 —— Total 3,346,902 984,751 • . . Operating deficit $7,698,511 61,322 1,047,732 receivable....... 1943 % 30,870 1,870,366 : • 30,002 companies.. for Deferred year. 142,451 ——————' and shares Participating preferred stock Common stock (par $50) 1,150,000 credit instr. and acctsK receiv. plant affil. I $21,130,957 $18,111,131 brokers to 973,487 — Notes &nd other credit instr. Property, & & 'RV for process — char¬ ter amendment changing the name of that corporation to Archer Mills, Inc., A. Straus, President, announced on Feb. 8. In addition to women's hosiery, the company is manufacturing foundation garments. preferred brokers Reserve $3.67 849,044 — in spec, bk. accts., see contra )— Treasury certificates of indebtedness— Sundry securities a sub. (r,V income $13,147,671 (depos. - to ;Net ,v 4,763,602 30,333 x, ... -Escrow:,funds-;held DEC. 31 , 4,739,681 ■> —— dividend payable... Deposit received under sales agreement.. 4,840,157 ' G6.241 6,732,922 owned — Preferred 382,866 401,685 equivalent to Dec. 31, of that 62,282 10,119,238 majority — -"LIABILITIES opera¬ 1943 on B. S. Notes and other stock Capital the to receivable adv. from 1943 J944 General, funds I $6,390,830 advances corporations.... 4,840,157 5 taxes and -charges & Total 31, 500,000 5,264,465 BALANCE SHEET, , Cash advances of interest in Treas. $11.77 to 405,222 outstanding deposit and on hand: on Employee Mills have voted Hosiery Inv. provision; 908,239 i CONSOLIDATED > Archer 1945 . securities Accrued deducting preferred stock dividends of $163,029, the.remainder profit for 1944, $5;101,436, was equivalent to $3.81 per share 1,338,405 shares of common stock outstanding at the ■ end of the Archer Mills, Inc., Columbus, Ga.—New Name— stockholders in under interest Deferred > 5,764,465 ; Inventories The hand. on . profit for the year- of, net reduction , 659.716 31 receivable Other the — After 1946—12 Mos.—1945 $510,070 DEC. value brokers subsidiary ■ -V. Interest Net Angerman Co.", Inc. (& Affiliates)—January Sales— Sales ;: —210,575,974 221,545,903 income and other taxes, deprec., amortiz. of emerg. faci!.'and interest 24,700,685 27,159,198 Taxes oh;income; and other taxs 18,671,087 17,660,060 Depreciation •„_ 1,410,185 1,415,915 t: 1946—Month—1945 and results Profit before prov. for charges of $982,520 and, $817,546 applicable to the 12 months ended Oct. 31, 1945 and 1944, respectively, which certain of the subsidiaries are required by orders of regulatory commissions to make against surplus for the t disposition of plant adjustments and plant acquisition adjustments accounts.—V. 163, p. 185. Period End. Jan. 31— 814,935 SHEET Participating interests in mortgages, real estate etc., at cost, less reserve for depreciation wholly owned subsidiaries for the years 1944 renegotiation of; war contracts, are summarized as Salfes The above statement does not give effect to ' $2,035,989 stock .BALANCE banks made Securities its on <? yj. share. 16,090 preferred and common months 7--v;\ of wholly $111,887,520; was Provision for reserve for contingencies — Balance of net profit transferred to surplus— (4) A-—. $2,850,359 estate, equipment and interests therein, at cost, less reserve for depreciation IV $2,122,541. was Amortization 1945, and, in addition, a substantial Of Federal taxes on income of subsidiaries for the year 1945. end 1944 in income of 31, from Accrued to (3) Upon the retirement on Dec. 15, 1945, by American Power & Light Co. of its debenture bonds and the Southwestern Power & Light debenture bonds, the non-recurring deductions of unamortized debt discount and expense and of the amount in excess of principal amount paid upon retirement, allowable for Federal income tax pur¬ poses, is expected to result in a reduction of approximately $220,000 in the provision for income taxes of American Power & Light Co. in the 10 Oct. in Deposits follows: Co. ended its the EARNINGS tion * thus neutralizing the company's common stock outstanding provision for' all taxes is equal to $13.95 per and And expense deductions 833,700 :-r~. the income stockholders offset by accelerating the (included in the item, was and discount on Due 5 * and company The total amount paid in dividends to Co. in income of subsidiaries" is approximately $250,000 more in the 12 months ended Oct. 31, 1945 and 1944, 1945, always 1944 year for amounted taxes for provision for Federal income taxes in the three and 12 months ended 31, •' banks and in Loans (2) Non-recurring deductions in connection with the refinancings by resulted in reductions of $3,956,004 and $7,421,247 in the amortization Cash alphabetical subsidiaries Oct, 699,277 taxes ... preferred on ' ' tf ASSETS— $18,671,087, including Social Security taxes, $1,218,497, Federal income and excess profits taxes net of post-war * reiund credit, $15,750,298, and Stale income Provision taxes, $725,000. .13,675,828 Respectively, than it would have been except for such benefit. income State — . alphabetical near $2,735,266 334,642 and . not exact 1,125,530 $4,018,701 ;fc — Federal income Dividends all employees, materials of 2,318,517 384,240 13,782,369 of $221,545,903 1944, non-recurring in connection purposes 457,239 . respective periods whether 1944, of Florida Power & Light Co, $1,250,000 1944 were unfilled orders number of 16,835,824 413,750 571,506 surplus..— Power & Light Net for realizable always are it reasons companies^ in 1944 $1,609,736 1,578,985 ... expenses Provision dividend of 25 -cents per -share on the March 1 to holders of record Feb. 18. mechanical arrange 31 1945 $2,439,715 income Operating was $210,575,974 compared with year 1943, a, decrease of 5 %•. The total in the Baldwin group, decreased from 20,095 on Jswi. 1, 1944, to 18,361 on Dec, 31 of the same year. The total compensation paid to all employees in 1944 was $60,950,415;* the cost of. 174,963 16.704,160 4,506,690 4,054,823 Income taxes.. January, to year subsidiaries 16,660,861 16,207,893 496,267 4,455,330 159,397 ■ a Total •■''' t. a DEC. ' 1 sales on operations.—V. • final 1944 report has just been issued. The results for the 1944 are after renegotiation of war contracts and are thus comparable with the figures given in the final report to shareholders for the year 1943 which was issued on Dep. 20, 1944. Total unfilled orders; on the company's books at the beginning of "V; - 4,455,320 3,896.426' .■ tax 5 . YEARS ENDED " ' Miscellaneous income This The deducts. ;;r As Profit year year —_ income daily Baldwin Locomotive Works—1944 Annual Report— I': 47,840 . -v).<$$ \■ 3,895,426 Light Co.— Net equity (as above) NOTES—(1) of ' w. '! < one, V-: - ACCOUNT trustees new Real American Power & Federal a First mortgages ' Balance, ■ possible 16,708,701- 16,232,377 12,214 -12)156 . other of is 6,431,262 equity of com¬ : pany in income of subsidiaries Int. and board activity and expansion. chafgeo! general policy, wnile management •: board the the 23,139,963 Net -Expenses the assume 13, increasing active However, they position as possible. 21,871,907 ; Other income. will in year ago, taking Into consideration accumulated unpaid participating privileges of both classes of stock. INCOME Deposits mi¬ to interests. companies' continue Feb. on of Chairman of order. 6,003,739 public— applic. nority ( common stock, par $5, payable During each of the liscal years ended Sept. 30, 1946, and 1944, a total of $1.25 per share was paid In dividends on-the eommotv stock. —V. 163, p. 306: ' ' 5' '« ■, ■ t <>25,168 ' Or25,168" 3,907,582. Portion the of a and - Automatic Canteen Co. of America—25-Cent Dividend ■ £ 5,289,921 »Pfd. : announcement will 66.- p. 23,139,963 367,20^. Misc, reservations of net S- ' 527,134 1 405,987 —1— .-truBtee- of the pompanies, succeeding Mr. $; The directors have declared 16,099,120 T 989,024 dividends a , acqui¬ adj ustments--« sition 20,979,624 4,051,626 6,959,138 Bogardus '- 39,766,217 - with $147.60 and i' etc., deductions(heti£^_'j: , •43,815,387 12,629,878; 10,422,572 Winter ■163, J&S 381,426 101,726 because Mr.. 39,384,791 828,537 Tuttle, formerly Vice Presideht, has been elected '■ making-the created 23,921,466 42,986,850 12,232,776 ( 10,320,846 revenues.™ income .(net dross Int, . B. " • pointed out that the position Property retirement and • F. President Vice Bogardus. V-' 13,4il,037 "2,417,462 _w. Senior V. 1945—12 Mos.—1944 ^ ( 2,623,945 Operating Vice President, (& Subs.)—Earnings—.'■ 1945—3 Mot,:^1944 ^Period End. Oct. 31— ' 895 inyestments.;as .of Dec. 31, 1944, and de- : niand ^ote; and'-other investments (less pro*'1 ;;;- 105,223 . t 60,525 8,300 -, "J- vision"' for; contingencies ? of $7,536 ' a^,,'of"f. ..'■ Dec? 31, 1943) —' "425 Cash la; banks—•' 46,237 , Atlanta & West Point RR. v December— - Gross from -Earnings- 1945 railways Net from railway 1944 1943 1942 $459,566 $423,791 157,002 114,434 197,871 35,517 29,111, Gross Net from railway railway—_— Net ry. oper. Income— „ 1,679,715 Accrued liabilities 467,748 612,244 for reneg. of toar contr. Prbv; —V. 163, p. 66. Gulf West & Indies Steamship Lines $2,136,243 $2,050,531 $8,707,706 Oper. exps. (lncl. depr.) 1,754,662 1,432,601 6,306,947 Net oper. Taxes i $381,580 - for ^ ... Total —V. — 334,994 $2,468,335 $2,611,216; $672,761 ; 38,352 124,330 . Dr3,302 17,096,936 10,393,585 in $2,344,004 156,273 6,922 ,194,818 $S6,580,468$100,155',181 .• be entered been set for March .12. in connection $575,771 $641,331 $2,538,823 73,381 190,430 885,532 34,521 78,116 readjustment plan last Nov.? 20.—V. 163, 850,989 13,529 directed <170,000 > " 38,795' ''}y $2,488,538 to i - submit J ''T was the of approved the on by proposed a special • v -fV? *7 three-judge Month of January— 19. ' Securities' Corp.—Reports Record Assets- of ^ Over $56,000,000 and Record Earnings of $2,850,359 for k surplus $488,860 t $416,379; $1,575,174 , ! - -v; ^ ?°45 $1,624,518 Government $1,467,548 : mitted to in its report for stockholders by the Albert Decree— - approved a consent de¬ Government's anti-trust suit against this corporation-. Federal Judge Thomas F.; Meaney t»n: Feb.. 13 settling the ended Dec. 31, 1945, trans- ?• "The consent decree was filed with the U. S. District Court for the Greenfield, Chairman of the f: ; ! District of New Jersey (Newark) on Feb. 11 by attorneys for (the $56,339,395, compared with $37,- v ^ company, the Department of Justice and the Alien Property Custodian. year M. , ' "Representing principally profit, from disposition (non-recurring). ■< board, indicates of - capital assets 195,519 , ¥;:»NOTE—The above figures for 1945 ments. are before year-end audit adjust-;1, The accounts with the War Shipping Administration, including compensation for services rendered, have not been finally audited byfe the Administration, i Company believes, however, that the reserve, for contingencies which have been set aside out of profits should be ample); if J. $2,359,350 sales under ' •*> — ' of exclusive Bendix Aviation Corp.—Consent ' 1945— Corporation Balance, figures, are 163, p. 307, contracts,—V. r.v* 1946 ■ . — NOTE—These - >r\"r>" v •' - Sales court - *•''{"*-r~ . road Feb, dSectors.v recently released from the U, S. Army.—V. 162, p. 563, (A. S.) Beck Shoe Corp.—January Sales Up 45.2%— decree - The by * . the plan. decree was cree , ;■ . New Director— ; He terms-of readjustment the 774. p. • . with form a — . Bankers exc. contingencies • A hearing has to The $2,449,742 ;; J5r887,690 $12,333,202 $12,386,718 10,030 shares in 1945 and 20,000 shares in 1944/ $12.50 par value, capital - stock of The First National Bank of. Boston, at quoted of 162, p. 2140. was $634,408 sh.) ; :market prices., Baltimore & Ohio RR.—Hearing Date Set— 161,474 $419,492 a — "Representing 376,208 shares of $15 par value, tMajorities of whose shares were held by the corporation at book value of the shares .^s £ shown by statements of condition of the respective banks, tInvestment 2,328,990 Dr3,302 13,535,508 : Total 16,563,976 v- 17,225,442 surplus Treasuary stk (30,610 ^hrs. at cost—$29 267,774 .-800,000' 17,399,265 • ... 658.240 ?|Q 906 112,862 1,771,032 $2,276,222 306,241 prof. 5 —.i—' taxes Prov. surplus shares) 5,932-589 Benjamin M.. Golder- was elected a- member of the board;of $2,162,094 97,668 24,887 Grossprofit—. and $2,512,433 236,216; 238,664 $574,893 $444,379 Net oper. profit—_ "•Other profit (net) Income $2,400,758 7 Capital Earned 5,740,423' 107,301 VGross income— Inter.est expense^.— : 43,036 $8,252,862 $337,073 Operating Income Other income— \ $617,929 44,502 revenue.. other than inc. > Treasury 10,166,010- . i._ $5,643,120 Dividend; payable——3—120,959 : '2,328,990 (par $13) common stock (254 $12,333,202 $12,386,718 "Capital Stock $5,643,120 Capital; surplus £—• 6,649,977 Undivided profits ■ *' 770,659 Provision for; taxesiw^-, u— 36,176 - 532,578 267,775 1,300,000 'C—_ LIABILITIES— 973,487" <18,431,409 1 stock Common 1945—12 Mos.—1944 revenues— Operating '1 . Reserve for contingencies—. 7% preferred .stock L— Subs.)—Earnings— 1945—3 Mos.—1944 and-Federal and year .1944 (net).w deferred credits—— and reserves 4,204,827 .3,538,531 ^ General ..reserve (& ■ Period End. Dec. 31—: 1,241,646 3,696,351 State taxes on incoma for ( Operating Atlantic 17,803,336 process— L v— Total . 250,000 14,525,762 849,044 Employee taxes and bond purchases Advances received on prod.- contr. 4a .425 97,092 . 250,000 4,000,671- 5,278,915 • • . ■ $5,000,000 $14,000,000 2,192,096 5,122,012 5,711,683 1,161,300 2,097,474 : 323,707 :r 403,742 ; from / ~ ( Regulation V. Loan——— Frbm Jan. 1— . ... Other bank loans. Accounts payable 35,164 — ^4—$96,580,468$100,155,I81 LIABILITIES— $480,894 $339,473 52,638 47,088 . .Net ry. oper. income.., Total it is to be compensated applicable laws.—V. in accordance 162, p. 2635. with its understanding of ; Atlantic Mutual Insurance Co.—Changes in Personnel William D. Winter and J. A. Bogardus have been elected, respec¬ tively, Chairman of the board and President of this company and its affiliates, Centennial and- Atlantic Mutual Indemnity. Mr. Winter, who will President continue of the to be three the senior companies executive and Mr. The Commercial and Financial Chronicle officer, Bogardus was formerly was Senior h taxes on «f 40*». a June net 30, $2,850,359, This asset value'of 1945, increase compared the represents the largest of 51.5 and with- $2,035,989 highest in net The decree provides that 136 patents after V increase of '■agreements with foreign manufacturers earnings 1944, exchanged by Bendix under will be made available in trade to competing manufacturers, and the assets and earnings reported in any year since its orlicensing shall be royalty free. Licensing will be allowed at reason¬ ganziation in 1928. V': • v R . able royalties" for a second group of 144 patents. r, " The indicated net asset value of the corporation was based on l? & ^According to Leonard J. Emmerglick, special assistant to the Un-tea market quotations, sor in the- absence thereof; at fair values as States Attorney General, the Bendix corporation is permitted to condetermined by the board of directors, and before provision for taxes V tinue the manufacture and sale of more than 60 types of aircraft on unrealized appreciation. Of this net asset value the securities of ;■ instruments and devices. The Government's complaint, filed Nov. 19, valuation of the corporation's;; and domestic foreign . r .. City Stores Co. and subsidiaries represent $34,446,574. Banker Secur¬ Corp. owns approximately 84% of the outstanding capital stock City Stores Co. 1 After provision for taxes, based on current rates, the indicated net ; ities of i asset , value proximately and of the of the $179.12 outstanding participating preferred per outstanding share as common compared stock with $272.43 per stock was $113.68 a year share as in alleged as that the ; compared 51 i to company had exchanged on an exclusive bisis well as manufacturing information with other manufacturers Japan, Italy, England. Canada and Switzerland gfoup of 136 patents is to be transferred to the Alien carry ments The decree enjoins the use of the patent 1 censes and revisal of such agree- out import and export restrictions as mentioned in the complaint'.)'The company also is barred (Reg. IT. S. Patent Office) William B. Dana Company, Publishers, 25 Park frace, New York 8, N. Y., REctor 2-9570. Herbert D. Seibert, Editor and Publisher; William Dana Seibert, President; William D. Riggs, Business Manager. Published twice a week [every Thursday (general news and advertising issue) with a statistical issue on Monday], Other, offices: 135 S. La Salle St., Chicago 3, 111. (Telephone: State 0613); 1 Drapers' Gardens, London, E. C., England, c/o Edwards & Smith. Copyright 1946 by William B. Dana Company. Reentered as second-class matter February 25, 1942, at the post office at New York, N. Y„ under the Act of March 3, 1879. Subscriptions in United States and Possessions, $26.00 per year; in Dominion ol Canada, $27.50 per year; South and Central America, Spain, Mexico and Cuba, $29.50 per year; Great Britain,'Continental Europe (except Spain), Asia, Australia and Africa, $31.00 per year. NOTE: On account of the fluctuations in the rates of exchange, remittances for foreign subscriptions and advertisements must be made in New York funds. A Germany The first Property Custodian. ap¬ ago, 1942 patent . TT • 1 THE COMMERCIAL & FINANCIAL CHRONICLE 896 Agreements.' arising out-.of*.the In ttjatters Property Custodian on against the Alien making, claims from The nation in connection with the termi¬ decree of the civil anti-trust suit consent by back paid as 36.5%. was 44;, Department of Justice, representatives of the corporation emphasized four points: li Bendix is not and never-has been a member of a cartel. . 2. Bendix categorically denies the charge that it ever agreed achieved-during $41.27 plus liquidating the ' •" * contract The .,y\-1944' dividends $294,812 Interest cash security diys,__ 5,162 5,889' 3,332 , 1942 $ 1943 , 10,263 ; • ■ •'■■" and share Co. common at the date as stock transfer of of Mower written Co. down carried was $859,782, the net of Aug. 10,< 1945. sale the the by of company the being offered, the funded and its subsidiaries Will, be company and because of the procurement policies of the armed the various countries involved. It is well known, they ex¬ services of plained, $3,761), that as a matter of policy foreign governments, as well as purchase aircraft accessories from their own nationals when- our J, : own, possible. ever share) total, 'ii to type a compared of utilling of automatic pi.ot wnich was found to be with tne types developed in tnis country, and aero pnotograpns for map making which was the at inferior valueless as to a method the American methods. to request which are to be licensed by Bendix on a. reasonable roy-: ' alty baofe are largely concerned with types of devices which either be-;;;; ,,came obsolete before the war or the commercial production of which ; never proved to be practicable. The patents The and total, : -Civilian : War sales sales ^ ' V Earned J —V, 163, p. l- w* ~ i ■ -' t , ' - ' ■■' —-—- 308,609 ■**- - \ Birmingham Gas Co.—Earnings— operating 1 •' taxes-.:-—■ state ■ income taxes—2_v_—__v_—J——-:<V : 'Federal income "Net «. earnings -Other 4 —■* i .- $612,126 —- —— income :_w(.( — $693,895- • r' Drift,177 -44,430 '' - Gross -income : d.———-w—w -Wwi.,:-. and other deductions.—, Interest Dec, on $656,557. 250,954. _____ $675,718263,927 - share income ' Net li—_ 1_- ; the company income." ^ tjje 921,366, 1,167,015 ' Common dividends 28,068 inc.' tax income' ; >1" v t, JEarned^^ —V. 1 ' , ' " " ' " ^ ' V' -• 1 ; '5'" *- " ' *^4'^ ' •! ' 'i ' 1' t .'"♦* • " s ' ^ ' » V / V - Bond Stores, Inc.—January Sales Increased 22.7%— Month of January— 1946 $4,076,039 and Sales — ^-V. ' " 1945 $3,322,429 Reconstruction Finance The ' Dick ivierle-Smith & =This of York New sale, together.-witlr $14 per share. a York New Boston Wharf Rental Co.—Earnings— Dec. 31— Other income Interest credits Res. for Fed. • 7,633 profit Dividends i.tiid _____ 5,498 $776,947 546,856-.,. . $745,006 535,152 553,472 ' . •- Net • 2,939 1 $744,736; 102,737 518,806 ^ 84,200 $139,058% I $143,990 120,000 v 96,275 $107,334 90,000 . $129,655 - ^K; 105,000 ; " surplus ____ STATEMENT def. $6,000 ' $19,058 $2.39,' OF ASSETS AND J $17,334: 1 a v $2.32 ' ' I : $24 655 yi of $1.76 LIABILITIES DEC. 31, 1945!>Vu)l * LIABILITIES—Social Security taxes accrued and taxes withheld. $1,- " 747; reserve for Federal and state taxes, $144,670; portion of mort- ' gage note due in - 1946, S8Q.000; mortgage interest accrued, $3,063; .rents !• and taxes paid in advance, $10,965; portion of mortgage note due 1947- Ioo2'o„$270 000: capital stock $388,960; total, $6,899,404.*—V. ($100.00 161; p. $6,000,000; par), 2215. V, ' surplus, " Jones Co. had operated contin¬ corporation h.^s £!wrU,ert,ol^re^' n? of New v 1 York, '• - called redemption March 1, at'100 1946. outstanding $244,555 series A 4% debentures,', made at The Chase National Bank ' it ll.Srcad £t.v *• for • N. Y.---V. 163, t p. of . i. '•/, i,.;, ( • ), an the agreement of common the ^company, the Commission Industries, the its Oct. -1944. 25, or of are its . determined so ;..o ' of The Eclipse dated July of shares Lawn 26, Buffalo - of with . common included in the of the stock any of with contract providing registration of of lndd$tries,; Inc., stockholders for $1,300,000 Lee the Eclipse Co., . 1945 1946 w^_i_U-l^_l^iw_l_lar"'l$7,155,401*-:: $7,076,746;:; 1,284,913 .1,258,136 $8,440,314 sales $8,332,882 462. p. of one also seeks approval - sell to * 12,000 shares; of $25 . , . Dee year 10, -1945. ; ; consist of a certain dated June 11, .1945, plant at Navy Port Department a Y.—To Acquire Gov't Plant Washington, formerly operated N. Y., by* the subsidiary of Reconstruction Finance Corp., an¬ , . . Years Ended Oct. 31—* ;. 1945 x * Operating, profits Depreciation' Interest on debentures before taxes— for inc. & exc. profits taxes. of exc. prof, taxes-(est.) ; por. ■ . $808,223 138,888 $705,971*' $651,914, • 441.865 '*;: 427.516 ; 75,307 p. 453. M I*/' , _. 110,665 ' , 2,485 $456,562 302,134 •; $246.634-•> • . . ' .. $183:091 65,775 , 50,844 ; „ Canadian Pacific Lines in v Maine—Earnings— " ' : railway.^— - December— " * 1943 , ry. Gross railwav-^--^ operi" income..Jan. from 1— " ■ ■' $000,198 271,554 83,052 ;72,182 ' > $559,596 191.669 1942 • (5,133,375 2.110.547 1,577,310 Net ." From Net 1944 134,344 from Net 1945 $603,729 178,293 6,154,465 6,467,429 from railway—11-^-J 2,353,881 ; 2,322,706 ,; 2,798,986 rv.. oper income—_ 1,128,494 .1,178,484 2,168,500 from Net —v. - >$403,089 .-127,875 75,519 Gross ;=' • £ ;(;• t.;;-; . . I railway-".-', 6,736,647 163, p. 648. : $569,712;; Cr56.900 Cr39.447 34,664• 'i;10;784ij ■':( Cr58.746 ' 29.358 ■' , 162, ,v ' 17,421 32,476 pr0fits^_^v___i—v—i-.^--:-$293 494 Net 1943 I 1944 * $894,678;; .* 156,230 ' Dividends —V. - " - —__——_ Minority company statement appertaining acquired Higher- January— Canadian Food Products, Ltd.—Earnings— ■;v Prov. was' and .'Exchange Aug. of issue an price is $1,250,000 of which $1,000,000 is for the land and buildings and" $250,000 for the machinery and equipment. Actual cost of the land and buildings was $1,344,447 and of' the machinery and equipment, $447,911. A firm retained by War Assets Ccrp, to appraise the property reported that the present normal re¬ production value of land and buildings is $1,587,148 and that the failvalue, after allowance for depreciation, is $1,065,442. Fair value of the machinery and equipment is estimated to be $268,747. The purchase contract. provides for a eash payment of $125,000,"; the buyer executing a purchase mortgage for the unpaid* balance which will bear 4% interest, payable quarterly. Annual payments on the principal, for the first" three years will be $91,666.67 each. " When total payments on the principal have reached not less than $400,000 over a period of not mora than three years, title is to pass to the Cairns Corp. Payments on the principal thereafter will be $121,428.58 each year for, seven years.; All: principal payments art to be made quarterly. * The plant, which consists of four major buildings of brick, steel and wood-frame construction, and 19 minor structures on a site ol' about 11 acres, Is located on Manhasset Bay, on the North Shore of Long Island, N. Y. i'Total floor area is 218,000 square feet. , ■. * •-(', A new welding and moulding process, said to. have proven very'suc¬ cessful, will be used in manufacturing various articles. It is reported the process can be used in the production of automobile and tr.uck bodies, aircraft wings, refrigerators, luggage and boats. -Tlef. Lee Industries, within on of purchase ' ' purchase from such "stockholders" for: the'sum of the issued and outstanding capital ' tock (3,( 00 Eclipse Co. and all of the assets and goodwill of a the air of the of so : demand on time purchase offering?) assets with the -Securities stockholders. at consummation Mower Co.> 1945, the. creation * aircraft the Profits to its liabilities; for 15,000 Bolt "Co. % This contract re¬ subject assets, register "/•' acquired The S. M. The purchase was purchase:.'price. The "stock to 15,000 Inc., date shares this The 1944. acquisition acquire all shares) 647. its into to quires , process-and machine patents, none except' in connection with its ownare owned by the company.-;?. - dated approved 8 . - Company The. incorporated in New York SUBSIDIARIES-Company 15, entered "shares patents agreement Dec. Inc., to ; OF value Feb. on War; Assets Corp., nounced on Feb. 8. transfer agent.' ;/\ effect To numerous product under $854,358. ; significant No : consummated (These . owns of ACQUISITION , from ; . Bowman-Biltmore, Hotels Corp.—Calls Debentures-— The is operations. ASSETS—Cash, $124,785; United States Government securitiesf.idb6%I' 000; accounts, receivable, $79,022; land, buildings, party Wallk,' pnd equipment 1 after reserves and depreciation and obsolescence of $4,2591- " 227.) $6,064,712; prepared items, etc., $30,885; total. $6,899,404. '■ - company preferred Grumman Aircraft Engineering Corp., will be sold to the Cairns Corp., 95 Dobbin St., Brooklyn, N.; Y., subject to the priority right of Federal Government Agencies, we screws, which business Cairns Corp., Brooklyn, N. thousands The • - of the prlneipnl amount not exceeding $#00,000,- bearing interest exceeding 4% and to mature not less than 25 years from their" The for stock (par $l) at suppliers is affiliated with the company. Balance, offering to holders of common on Feb. 14, 1948, of rights stock, will not be made that date.+—V. 163,'p. 775. proposed second 31, carriage plow bolts, track bolts, machine screws, stove bolts, of specialized forms of fasteners.. These products are supplied to many different industries, including the automotive, rail¬ road, farm implement, and building industries. : Oil well pull rods and sucker rods suitable for use in shallow oilfields, such as in the States of Pennsylvania and Illinois,, are also manufactured by the company on machinery especially designed for that purpose. : The company, is the only independent producer in the industry 'which operates 'its own "steel rolling mill. This mill has capacity sufficient to supply its entire manufacturing requirements. -Its produc¬ tion, therefore, is integrated from the receipts of steel billets to completed products in all finishes demanded by its customers. The principal raw material used by the company is steel in the . form of billets. The principal suppliers of raw material are Bethlehem Steel Co. and Republic Steel Corp., the proximitey of whose plants in. the Buffalo area insures economic delivery cost. Neither of the lag bolts, close - > New .York, Co., the convertible par. preferred and 3,000 shares of ,$25 pay common*.-i -* -■,'(* < n Proceeds of the three issues are ;to be applied-ito :the' pay?nent;.iof outstanding demand notes amounting to $1,075,000.—-V. 162. p. 1276. ' ' the commercial items produced are machine bolts, Included in . 111,300 150,000 Earn, per shr. on 60.000 shares capital stock_ • not date. charged* Dec. at the at for Corp.—Rights to Subscribe— that notes in Company is a leading independent manufacturer. of a. complete line of standard bolts and nuts, and special lines of cap screws and rivets. 221 from net, approximately $532,664. This by the company -and its company baa petitioned ihe^MaiMchtiiiietts Department" of Utilities for. approval ta issue at not* less than par. bonds or :■ Fublic . 1942 State & __I taxes • value 163, ' * Aug. 17, 1897, succeeding to a business, which uously since 1855. $741,797 160 $802,146 Exps.,. inci. deprec., etc. - 1943 $739,288 4,358 10,135 / — account Total ■; 1944 $769,154 - on ; 1945 $787,652 account. - HISTORY AND,BUSINESS—Company was " 'YearsEnd. - - Marine Midland Trust The and will receive, Buzzards Bayi Gas Co.—Plans New Financing— . Alstyne, Noel & Co., on Feb. 6 of¬ fered for sale 43,386 shares of common City- at 101 and accrued interest.' 975,609 (; $545,387 sales ■.''■■-The > issue of Feb. 11 Van :- sale;bf $1,000,000 to Bear, Stearns *& Co. City at 102 and interest and a sale of $1,371,000 to' the Boston & Maine RR; at 101 and interest, completes liquidation of the -RFC holdings of the obligations of the Company.: - V ■ :' > These bonds are part of a $45,693,000 issue of which the RFC ac¬ quired $40,193,000 in July, 1940 in connection with the financial re-1 adjustment plan of the road, >. 'A The total premium received in liquidation of the entire $40,193,000' RFC holdings -is $538,510.—V. 163, p. 774. . of $106,108 15,429" 2,800 r (market cost average record Combined Buffalo Bolt Co.—^^Stock Offered—As mentioned in an Liquidates Holdings— Corp. on Feb? 8 announced the sale of bonds, Series RR, due July 1, 1960, to first mortgage 848,165 $494,704 for —V. $2,642,031; earned surplus, $721,824; total, $3,600,583.—V. 162, p. 667. '•» ' 1 '/ ,*\zh '/? tfV-'r <- ^ /tV- i.< tY,j *' ' f»" 'l>' ' " Z1 *w, Boston &: Maine RR.—RFC : $19,000,000 A'U 651,718 $523,358 stock stockholders Retail interest V ; at of Wholesale .(sales; $4,420; provision for taxes, $5,278; payable upon receipt: of stock of a predecessor corporation exchange, $3,545; capital stock ($1 par), $223,485; capital surplus, for 576,624 Butler Brothers, Chicago—Sales 1.3% i dividends 163, p. 307. $1,520,996 V $353,311 announced Month of LIABILITIES—Accounts payable, Increase $753,610 - . 27,749 - $1,500,000. obtained subscribe subscriptions Z •>." $1,342,869 ; $4,809,150), .$3,462,553; cash in bank, $127,992; receivable on to capital stock, $905; dividends and accounts receivable accrued,. $9,133; total, $3,600,583. ° - ,1945, u* 1 - $1,175,076 proceeds of the preferred issue, estimated at $2,450,000, will be redemption and retirement of unconverted pr.or preferred shares, for, expansion of plant facilities and additions to work.ng capital,. The, stockholders approved the directors' action-: in granting au option on 50,000 shares of common stock to George W. Burry, Presioent.—V, 163, p. 775, . > * * " $87,879 107,255 * ' 101,688 "1363,762"* 144,766 " ASSETS—Investments - ''U,, 4 ') • r 88,210 $929,935 , $1,493,247 $1,254,639 Net $98,232 $126,381 3129,079 , ' 1942 ■ 1942 ' ^^cluding security profit^ arid losses. •/,; fOf. whiph, $231,993 'to')jurplu$ arising from, sales bf invtlstments.. ' (v p 'balance sheet at dec. 31, 1945 .v- .: • surplus Sept. 30„_—^4—$1,343,190 ^$1,163,549 ■ 162, p. 2655. ' 92,397« 101,342 —I, "44136,528-: ' 68,264 '''-J" ^ v ;■ ■ ■ — I : > '4,792 ' . is used ■" *j•("Net , .r 1943 . . 36,358 taxes common 00O shares, ^ " $120,569 V 19,247 ' 3,091 $158,368 V" 27.195" $157,147 Fed. 1943 * M dividends Preferreu ; r - shares of $1.25 convertible preferred stock, $20 par.* and an increase of the authorized common Stock from 750,000 shares to 1,000,-? . 1944 1945 Divbjidn capital stock__" . 1944 ■ Burry Biscuit Corp.—-New Stock Authorized— of portion INCOME ACCOUNT FOFl CALENDAR YEARS " •.friai'fiT-:" H Total surplus v.; ; of with The has no liability; for « -W " • v dividends pa4fl out pf net realized profits apid alter all costs of supervision and administration, net asset value rose 89.85% for the year ended Dec. 31, 1945." After-deducting all dividends declared;- including those from realized, profits, the. rise, in net asset value amounted to 80.24%. : v on'%uch - for 'Expenses ■ COMBINED v\; "-——Years Ended Dec, 31 100.000 Deq.: on dividends, taxes ''■Income- $411,790 $405,602 : : +400,000 shs. $1,138,718 to stockholders of record on Dec. 31, on ' Earned surplus beginning of period— % Burlington Mills it basis 1945, were $4,933,937: oh the with $4,027,237 _a year earlier. 31, compared per adjustment ProvA for • $1,500,000 400,000 shs. the sale of the 43,386 money, to¬ subsidiaries under the bank loan agreement, aggregating approximately $2,032,664, has been or will be'applied to the payment in full of the $550,000 of funded debt outstanding at Sept. 30, 1945, and toward the payment ' of short term bank obligations aggregating $1,600.000.—-V; 163, p.'775. shares Ltd.—Annual Report— taxable as '.'/I; the Outstanding $.927,146 2,789 ■• ■ income gether 1945 31, opers.„_ (net)- PURPOSE—rCompany was the income ' . DEC. SHEET 1945 31, Dec. met After .12,900 8,250, 248,903 ,191,771 udm. from income Net elected, company Federal ■ of "$9,001,791 $11,797,879 $12,707,207 $13,127,218 10,539,376 9,689,424 10,581,941 7,307,960 exps. 969,737 1,052,030 766,685 913,172 Prov. for Fed. inc. 3068.. share a holders *237,777U$f■~2juriil2 stock common sold- Inc. bef. Fed inc. taxes to value ended has and ——— Taxes, other than income taxes gen. Other year's in its Federal income tax^ return for the 31, 1945, to be a "regulated investment company, requirements for qualification for taxation as such in respect of the year ended Dec, 31, 1945, Therefore, as all otherwise taxable income of that year has been distributed to stock«f The year revenue - T prior $127,992. 1945 1944 $3,395,302 $3,304,621 /4 Gas purcnased 1,287,836 1,214,266. Operation' ■■-_.1— --,1.-, — —■— • 639,118' .v; 609,644 ; General expenses charged to : coristruction_.._j>^'.^ Cr4,750 :Cr4,001'' Maintenance : ,.114,152 114,263' -Provision ior depreciation and amortizations— v' 247,238 • • 238,317 30— 12 Months Ended Sept. Total • for 31, last,.1 amounted to $22.08 1944. parried at a cost to the company of $3,462,553, bad value of $4,809,150 on Dec, 31 and cash amounted to asset market a ' & stock quotations against $16.78 Investments, , - goods Profit from 'Jan. Account reserve p. assets net market Net $2.81 $2.37 , Total of 308,609 ■ of Sell. * $1,025,750 890,677 i- of shares now offered." Cost payable, $131,733; due for capital stock retirement, $8,402; reserves for expenses, taxes, etc., stock ($5 par), $1,084,440; surplus, $4,156,720; total, Bullock Fund, • of'The 10,000 shs. $].)_— (par 9 Mos. End. 162, for capital $5,388,593.—V. ;■; " ' Buffalo $5,388,593. $7,293; $34,679,455 $39,417,661 charges and taxes— share.;..—_ 774, per ' -c"C / 'v/ of of value $1,500,000 pfd stock Sept. 30, '45 21,185,044 .27,593,459 - — t,','1.').. Net profit after Common shares , -—•— —- — ——- Total sales * _____ - lr . books to was stock , SUMMARY OF EARNINGS ( ( COMPANIES LIABILITIES—Dividends repurchased 1945 ' 1944 $13,494,411 $11,824,202 Calendar Years—* ■ shares the j.; "4,000 shares of the preferred stock previously, outstanding have-been acquired by the company and are being held in its treasury, tlncluding banks, $136,550; investments in common stockstat cost), $5,106,235; receivable for securities sold, $1,037; dividends receivable, $13,040; special deposits for dividends (contra), $131,733; Inc.—Earnings— Bigelow-Sanford Carpet Co., ; Distribution $19,516; 1944, BALANCE ? , 3i, plus market capitalization >(■ ? - follows: bank loans : .stock (par $100)— cumul. the, 43,386 ASSETS—-Cash ', in the above catego¬ stated that the patents in both of unimportant to Bendlx.^r-V. 162, p. 3187. company were (3,232 The unrealized appreciation of investments on Dec. $3,710,541 or $2,120,465 more than on Dec. 31, 1944. ' ries stock capital 3% 10-year 7% Common ($1.27 a $134,807, stock shares), capital on such Authorized 1, 1936; balance, Federal income tax no longer required, $422; net income, as per statement,; $261,001; total, $280,940. Net amount of undistributed net income included in the prices of shares of capital stock sold and repurchased, $1,747; balance, $279,193; ordinary dividends on capital stock—$1.22 a share, $263,606; balance,: $15,587; total surplus, Dec. 31, 1945, $4,156,720. ,. investigated U.-S. Army, but was found to be of tne by Bendix in dividend its ( Ordinary Dec. The-patents-yielded to the Alien Property Custodian for royalty-free 'licensing to any applicant-including Bendix, related lor the most part !' . gain $4,141,133. (2) ' - ... $351,969; capital in cash. $136,877; at book shares 43,386 debtas . laws the $997,534, which to as the determined so the on used v comprised taken Inc. The total purchase price Sept. 30, 1945, the amount at Lawn $25,000 . of was presently * patent of escrow'-under .-r, effected:" ' . loan a CAPITALIZATION—Company and its subsidiaries have .long .term bank loans in the amount of $1,500,000." After giving effect to such loans,- the retirement of the presently existing funded debt , , of placed 'in .... Bolt Eclipse Lawn Mower Co., v ^ , Buffalo per As Eclipse ,■> ( ' consisted deposit - 1945.- acquisition to Buffalo Bolt Co. stockholders of the Eclipse Co. of to of $10 Co. cash of Industries, Bolt with fixing prices, and ' : Total income $300,932 $282,957 $313,396 ; $300,582 4. The action which was compromised by the consent decree merely General exps., interest, concerned certain license agreements involving foreign patents owned;, :• ' taxes (other than inc.) ,;■' 49,705 -by Bendix and certain domestic patents owned by various foreign cometc, '•>—,— 52,968,, 40,076 39,581 ; ipanies. ■ ' <■ , > ;'••(W"■ -*■ ' Net income—_____ The controversy, it was pointed out, was over certain provisions of $261,001 $273,320 $229,989 $251,226 Dividends these agreements the legality of some of which was arguable, par¬ 263,606 ' 270,521 ' 7 ^28,964 245,172 ticularly in tne light of judicial decisions interpreting the anti-trust NOTE—The corporation has elected to be taxed as a regulated in.laws, rendered since the agreements were made. The decree does not vestment company and as such has no liability for Federal income in any way adjudicate tne legality of the agreements. All of the tax for the year 1945. agreements involved in the suit, it was stated, were made years before the war one being dated as early as December, 1932. The Mitsui > ; STATEMENT OF SURPLUS DEC. 31, 1945 < " ' . . agreement was cancelled by the parties more than ten yeais ago. (1) Capital surplus: balance, Dec. 31, 1944, $4,081,485; excess of cost The provisions to which the Department of Justice objected, the of capital stock repurchased over par value thereof (after giving --Bendix representatives sa.d,. limited ttie right of Bendix to manufac¬ effect to allocations-to the Ordinary Distribution Account), $430,029;. ture and sell in certain foreign countries,, and the rights of various excess of proceeds of capital stock sold over par value thereof (after ioreign companies to manufacture and sell in this country. They giving effect to allocations to the Ordinary Distribution Account), /explained however,* that;even if the license agreements had not eon-' , Dr$290,745; excess of value of capital stock issued in payment of divi¬ tained the provisions objected to,:,_the same practical situation would dend over par value thereof, jDr$118,647; total, $4,060,848. Net profit have developed in most instances through normal oepration of the on sales of investments (after taxes applicable thereto amounting to faith 11, cost $1,147,534. The ?tVhaVnot1 evS&been'charged 3 Industries,. Inc., good shares of Lee 5,620 10,648 as June payment value " 6,295- ; Lee the of total 15,000 v $284,663 $266,398 $304,174 ' ! 608 " - , Taxable V- ; the Eclipse* Machine.. Co.; (a-salts organization), grood'faith deposit made on the contract. The sole $25,000 of make- to *' * the liability After adding share. a ' INCOME STATEMENT FOR CALENDAR YEARS 4 [ Cash , increased 1945 • capital gain dividend the increase in liquidating a /,"V-1945 - t; $1.27 value brought by the * results good value of the capital stock from $31.16 to statement released a Broad Street Investing Corp.—Annual Report—. . ■■■ v. Monday, February 18, 1946 partnership known; ;v';:'-(■''-(• V-cJunie i^E dOkMERClAL&^M^ANGlAL 163 ^ "Numbei8 '4465 r Canadian Pacific Lines in - Vermont^—Earnings- .supply, from ,/tbie, hugfcf natural Texas. 7 ' December—Gross railwaj777:■;■; $113,908 from Net' from Net ; ry. oper. railway. itm ft* »i.\ ' . ! >' 1945 . $123,757 7 '->69,679 , • •' v1 *15,536 *117,181 income—a-; ! /,. 1943 i $95,969 1944 j - *71,829 *75,754 >72,471 I. Jan. ■ 7 • railways::: 'resources' gas ^Ve'sif* of writers Virglriia7ft»d' " • bih ' > .7 '' . 163. 648. P- ; -, /' , *268,590 Central Pacific Ry.—-To *671,124 Capital Administration Co., Ltd.—Annual Report— 31,' 1945, Dec. pay jvcrs being notified •presented through the net assets of company were equivalent to debentures.. The preferred stock asset coverage the $6,596 per $1,000 of Increased during the p- from $111.48 to $148.28 a share, while the after allowing for the preferred stock at $50 fi share, advanced from $18.60 to $26.82 a share. The class B stock H asset value, was $1.74 at Dec. 31, 1945. ;-7.; 7;:'':'!"7/7''77:' ' class A year clue ;'7'7/ t'. 7.' V March * 31, 1946. 7 7 . ACCOUNT INCOME • '■ J' Total '*, •' Taxes 1945 1 „ 7* ,77i:;7'y;' CALENDAR FOR Income „ 23,001 ' 14,548 ' $191,283 , "After deducting $3,437 tax, 25,657 9,905 ; unpaid for should coupons abroad,—V. payment ' • be 163, William drop in zation of The prior year's accrual of Federal "capital stock corporation has determined to investment company and as such regulated liability for Federal income "above income. tax elect taxed have should the year 1945 for be to as in of gross the the totaled This in; respect of the of of operating filed by to be group.*-V. 163, Ry.-—Reorganiza¬ V ' , at Chicago for managers V * , has the volume action, and of order an war in radios and soft of extraordinary maintenance due revenues-was material handled during in of 128 pages, to new customers and those requesting an Aldens catalog. The digest will have the appearance of the big catalog, i ml up entirely-.accounted additional for by the be specially jseiecuous payment merchandised 163 77a p to oner cross-section of big catalog a - . v. idj, p. "l':. ;.../ .. ; " Chicago Noi'th Shore & Milwaukee RR.—Files Reorcranivatinri Plan with the ICC— ; of New Jersey and its municipalities during increase of $1,763,681, or 51% over 1944. in vvlll -' f selections—V an $1,654,098 lines in home needs. company's big catalog is being mailed to a selected list of regu¬ by a digest of the big catalog; m. de lar customers and will be followed to rapid the later ? uishings The to history, 29%, an increase to 658 pages from 508 pages last season. A major portion of this increase was created by the vastly expanded h"~»e fr * section, comprising over 160 pages of furniture, appliances, $60,796,386. 1 almost was with and deferred its in mailing the largest Aldens spring and summer exceeding the size of the last big-catalog by is now company catalog of 7777"/v./; '/.77.'':7,'7'->7.7 7:- 8.6%, or ' $5,229,462, of of Chicago Mail Order Co.—Mails Catalog— The on income net a revenue accordance property $5,249,417, year increase November compared to $3,684,827 Officer, attributed the deficit to the Jersey taxes, to the accelerated amorti¬ projects made in authorizing such paid'to tHe State Taxes 1945 a material no a as of Executive retirement decrease months $175,316 . of $55,546,969 on 1945/ deficit a Dec.embetvi.7.-c 77 7<fc":7 *7,314 31,429 $168,296 $182,328 reported heavier New Truman for 9 1944 Chief defense President > charges : in Wyer, revenue, ' New'Jersey—Earnings for Year— revenue $217,932 earned '• 28,494 32,264 tThe ' and . Feb. on - operating gross $242,553 5': company decrease .-.Net bonds ; . Central RR. of 1942 , $236,123: v 31,682 . 33,502 expenses V 1943 $251,559 28,086 t2,495 ' (other than inc.) YEARS 1344 income—$255,365 Interest Other the normal channels -. The during the bank loans ! 67\ that price a stock asset value, Company issued $1,150,000 of 3%'; 15-year debentures year and, in connection therewith, paid off $1,150,000 of "• aro at appointed- three Chicagoans as road,; vizv John W.>-Barriger; 3rd, an executive of the Fairbanks-Morse Co., Arthur T. Leonard, Executive Vice-President of the City National Bank, and John E. Dwyer, Man¬ ager of the Chicago office of Otis & Co. « 1 Meanwhile, Judge Igoe denied a motion-filed Jan.' 18 by -L. F. Deramus, trustee and chief executive officer, to hold the reorganiza¬ tion proceedings open pending Congressional action on bankruptcy remedial legislation.—V. 163, p. 716, • reorganization 'at At public Louisville & Appointed— Igoe FederaL Judge ' company is making arrangements for deposit abroad of funds principal and interest on its 35-year European loan 4 % bonds maturity on March i; 1946, Since the start of World War II the company has been paying, interest on these bonds in New York. Hold- to' the Indianapolis tion Managers , them offer w.': 77 Chicago The to 68, p> .'V/y/-'- 77'' Pay Bonds— will The Illinois Co. of Chicago heads the* underwriting 7 1,415,503 i who amendment. .Commenting on the petition, 'EarleJ. Muchold, President of- the Niagara Hudson Power Corp.,' of which Central New York Power is a subsidiary, said that the purpose of the undertaking is to iurnish customers with the highest quality gas and to encourage greater customer use.—V. .'l—7!7 "'Vo;-. .'.v.X-',;' 7/1,380,751" 1,516,354 1,318,990 Vi; Net from raiiway-ii-4^'.:- *682,616 "7 *513,I34-" •>562,019 v Net ry: oper. income__^ *1|247,'216 *1,029,904 *1,021,061. £7 "Deficit.-—Y. 163,. p. 648. .V""/7/7 y\"'i From 7 Grofcs mm 7 $101,415 7 *36,358 *119,236 - 1942 . CHlRO ...... , ganiZaUOn rian W1U1 Uie in ^ " ^ The trustees have presented a reorganization plan to the Interstate f Commerce Commission. The company has $44,000,000 securities In SURPLUS, DEC. 31 Court decis: decision.'*, Although the State of New Jersey had not demanded :'i the hands of the public, and interest accrued to Dec, 1, 1945. amounted s Capital Surplus— 194? 1944 these taxes in 1.941 and it was" not known that they were due until f- to $15,500,000. ; r . " ,' f ■' f decision, the amount paid nevertheless included penalties Balance,; Dec. 31—-, L.J. -1" $2,677,654 $2,677/654"i- Vthe£l945 f& The reorganization plan provides for the following distribution to ■>' at the rate of 12% per annum in the amount of $532,422. iff Income and profit and loss account from /.7777777/; ; bond holders: '' For each $1,000 principal amount of first mortgage gold bonds, Jan. 1, 1936: The sum charged to amortization of defense projects was $2,247,608. 32.906 shares of common stock of the new company and $230.34 cash. ;. Previous balance : 647,596 :' 51!! WChar®es for deferred maintenance in December totaled $648,530, but ^^tiWrnlnpinii" amount of lirst and refunding mortgage ge Net income T82.328 ; credits for 191,283 picking up of deferred maintenance from earlier years ' 1 • Po1 each $1,00° PllnclPai amount 01 Ulst ancl reiunctmg mortgage in Net profit on sales of investments gold - bonds, series A, 271946 shares of common stock and $195.6:, *210,069 *255.905brought the net increase in deferred maintenance for the year down cash. ' ' 1 to $77,961. ' For each $1,000 principal amount of first and refunding mortgage Ba lance series B, 27.116" shares of common stock and $189.8 i in Dividends on $3 cumulative pre for the 1341 year levied in property accordance with taxes and penalties 1945 State Supreme a OF STATEMENT . ... „ . ,. —— . ........ ....... 1 •• - - ■ • if Dividends stock class A on Dividends on. class $1,000 principal amount of first and" refunding mortgage Elizabethport. Total net charges gold bonds, series C, 27.116 shares of common stock and $183.83 in extraordinary retirements in : 1945 }■[ cash.' ■ • amounted to $1,198^766; compared with $1,361,404 in 1944. The effective date of the plan, if approved by the ICC, will be Jan. By reason of the- extraordinary charges in December, which will 1. 1946. ' ' result in some recovery of Federal income taxes paid in earlier years,U The new corporation would have capital stock of 500,000 shares of the 1945 accounts shows a net credit for Federal income taxes accrued ; common (no par).—V. 363. p. 776. ■■'■■■■ ' ... 01 $729,204, compared with a charge for this item in 1944 of $734,522. stock.. B for Balance . — - '. • Total, including capital surplus. • deferred maintenance and r Surplus, Dec. 3U-- $3,174,332 -u $2,971,581 Also •After deducting Fed ere I income end other taxes applicable of $80,087 in 1945 and $46,420 in 1944. \ , thereto v because the of extraordinary '. , 0f on a of gross $5,018,438: interest receivable for special $17,983; receivable, /iitotal. $5,427,871. securities Calendar Years— deposits' ; for i. dividends; $40,099 income ' Net income liability 1 4,:967,016 • the.Commission states: Tho'report of 5,334,416 certificates The offered were TV ■ sale for through competitive-bidding and invitations for bias were also sent to a large number oi bankers, banks, trust companies, and life insurance companies, the bidders be¬ ~T^—r— *$3, 684,837. 163, Bank crued dividends in connection with the procurement of certain equip- i . -1 "Deficit.—V. 1944 $55,546,969 $60,796,386 145,349 4,496,492 1,282,179 5,552,348 __ — ....... - , ' ' 1945 '' 'v 1 operating revenueiiiwii-,. Fixed charges and other deductions— ^ $9,035;"dividends- and sold, SEC on Jan. 30 authored the comply to afSuM. ch,lgaU.t„ in respect of nut. exceeding sb,870,COO 1%% eq .ipmentcertiiicate3, to be issued by the Continental Illinois '.sational & Trust Co., Chicago, as trustee, and sold at luo.5673 and ac¬ The and Ne* railway operating income Gross ;|P cost), - Chicago & North Western Railway—Equipment Trusts : trust, ; the $4,763,877. " ASSETS—Cash in banks, $242,317; investments in U. S. Government securities (at cost), $100,000; investments in other securities- (at% . December; « $1,112,473 Gross ' C 1945 ' in made revenue The unrealized appreciation of investments on Dec, 31,' 1945, after deducting provision of $770,000 for Federal income tax, was $2,304,273. "BALANCE SHEET, DEC. 31, charges $217,932 p. ing required to indicate whether the bids were submitted on che basis and dividends payable, $54,474; re-' /, 'xt' .r"%'y °i a 10 or 15-year trust and to name the rate of divide..ds to be $92,255; ,3% debentures due Aug. 1, ' Central & Southwest Utilities -New President-—w.pj'bome by the certilicates ,'iu multiples of V« of 1% per annum. In re¬ Ms 1966, $1,150,000; $3 preferred stock, series A ($10 par),.. sponse thereto 7 bids representing 39 parries were received. The, beat $434,000; class A stock ($1 par), $143,405; class.B stock (lc; par), ?■Frank E. Kruesi, formerly President of Middle West Service Co., has > been elected President oi Central & Soutnwest'VUtilities Co.-^V- 163./M1 bid, 100.o673 and accrued dividends, based on a 15-year trust and fa j63 $2,400; surplus (as above) " ' r'oove), $3,551,338; total, $5,427,871.—V. 162, p. 2514. beeh __ele "L " /i'rate of l% %; per annum, was made by Halsey, Stuart & Co., xilil, and m, 12 associates, and has been accepted. ' On these bases the aruagj an¬ ^ :p" {• LIABILITIES—Interest s: for serves accrued taxes,/ etc., cumulative expenses, . t . ||r Celanese Corp. of America—Further Merger Data— The . consolidation the of two of foremost producers in ganization. had At / special a meeting the day before Tubize given their approval to the plan. the By the merger Celanese will enter viscose _ X —- 4..1 ^ 14-J ^ 2 '_ i. >41- ... _ It & ' <f (\ at'.; a.-.-price, ito-be • proceeds tc the applicant will be approximately )..55%. 31. 1945, the cash, temporary cash investn cnts, and o f fvt •»-. »n obligations, other thin equip¬ been/reduced ^rom; $194,336,488 /tq: $143,045,*;;. contingent-interest and - P* ^ : t—'. Clalm Case— N. Tubize sale of Rayon Corp. continuous -In'addition, engaged is filament rayon principally in the manufacture made yarns The and net proceeds will first be applied process, preferred its the viscose by the proposed financ'ng. the proposed financing. which stock, is to be to called redemption of the old redemption as a part of I $ preferred stock will be exchanged for i mcnt produces rayon fabric? made from manufacture. .. first value par Celanese merger term3 each share of Tubize $100 preferred par be value 4:i7% by the corporation. sum sum - - Jeffries & Thorndike, Inc. Childs, and H. the underwriters for the preferred stock; common stock.—V. 163, p. 776. value commcn. This exchange will require the issuCelanese of 70.000 additional shares of first preferred stock,, par $4.75 scries, and 468,571 additional shares of common, After the merger is consummated the authorized stock 01 own one share of Celanese no par $4.75 series, and each share of Tubize $1 exchanged for two-thirds of a share of stock, will common no by ance of '■ Under the value yarns C. First - Total net assets ot the Pund Dec. 8t 31, close •market u* Vtlrtiivjc Ui AiUClf, : The , unrealized' appreciation as of merger will be 80,000 shares of first preferred stock and Dec. 31, 1944, $408,669. • ;§ 294.357 shares of common stock'ifiif excess of the aggregate number Asset value per share on Dec. 31, \>required to effect the terms of ''tM merger. There are no* present .1Q44 ;.un increase nf innrM5fl nf '/. Dec. 31; 1944; "an ', plans for the i suanbe of any of such excess shares. ' ^ 31, 1944, an increase of ;31 I? ica after the Dec. 31, 1945, was 1945, decision that a the in Walter to press a claim not continue court's 7-0 part • . Justices Frank¬ decision. ,,\fv case. Chicago had ruled in prosecution the St. the of Southwestern Louis ' . <' reversal of the case, directed, its; in Chicago. T..en, Mr. Douglas said, if it were established that continued prosecution- of the claim would be inconsistent with the plan of reorganization for Sc. Louis Southwestern Railway, or the administration of its affairs,, the claim Douglas, the U. in S. return to should of $3,683,464; was reversed 4 could ' the no Court Circuit S. of Justice a from value - Supreme. Court r reorganization under the Federal Bankruptcy Act and a trustee was appointed. The Circuit Court later ■ ruled that all legal actions on behalf of St. Louis Southwestern Railway then were vested in the oL/1944. outstanding • wun U. continue benefit trustee. 60,804, were took Jackson and C., - thatOMr. Meyer could claim, which he had filed for .the Railway Co., of which he was a director. ; He. asserted "successive conspiracies" had occurred in which Rock Island was alleged to have participated. / • ! y/j After his claim was filed St, Louis Southwestern Railway requested The ? Wa'.nwright & Co. are Colony Corp. for the 1945, 11 hot Chemical Fund, Ine.—Annual Report-— capitalization MwM'Co^of taKrtn Will bB 800.000 shares ct first preferred ■MMu«MVfiyV'u«»»v^4)vi furter ., ; - Y. against the Rock Island. ' Justice Douglas delivered the for This will require the Th;s will require the of $230,475, repreof senting the redemption price of $1C5 per share'on the 2,195 shares outsianaing, plus accrued dividends. The rema.nder of tne proceeds will go to the treasury of the corporation, and become available for invest it Feb. on yartis- made plastics and • ■ field,-' producing ; % ' — - O ■vfW1 Chicago Rock Island & Pacific.-Ry. ■- '' ?. v. 163,' p. 64j. % ' vt/>A ^ iixed ments £?bligfttiqns;t^ave 57... a reduction of $51,^90,916. filed,by amendment* The .unsubscribed.-,balance of. cellulose of .; :i(s. ... standing - rayon producing field in the United States for the first time. Heretofore, the ' J. i.' corporation has -been engaged principally in the manufacture and sale October of . Tae 15,000 shares of 4%% cumulative convertble preferred wili.be offered to the public by underwr.ters-at- a price to be filed by amendwent. The 100,000 shares of common7Sti03ck are initially being offered by theDvihO f Kn for subscription.by corporation present- common stockholders fSV» An stockholders • the As m - ' company cost of the nual Chain Store- Investment Corp; -Registers With SEC the synthetic ;; yarn field having total assets in excess of $150,000,000 was speeded oh«$ P Feb. 7 when, stockholders of this corporation at m special, meeting K ratified the proposal lor merger of Tubize Rayon Corp. into their or- disallowed. beV dlsall the claim should ordering District If it Court is not established, so then be considered on its merits, hq directed that * ' $13.15, and the powers, preferences and rights and the qualificatiais. limitations or I'estiJctions of the respective classes of Stock will be the same as the present shares. ' > t Celanese Corp. of America was Incorporated in 1918 as the American , ,rr^.., .....hi4 INCOME STATEMENT, PERIOD ENDED' DEC. 31 .1945—3 Mos.—-1944 ~ : 1945—12.Mos.—1944 Int" on U. S. obligations Cellulose «fc Chemical Manufacturing Co., Ltd, The present corporate was adopted in 1927, The corporation and its subsidiaries own yarn-producing plants at Cumberland," Md,, and Narrows, Va.; a "spun % yarn-producing plant; at Burlington; N. C ; 'weaving: mills at Williamsport. Pa., and Staunton, Va.; a' chemical plant at Bishcp, Tex;, and a plastics-producing plant at Newark, N, J,>,:v%:'.:;.;; $134,511 2,075 $112, Govt. $395,184 , ' • 2,709 . •__. ;;r'; income— Expenses 5,823 $137,220 15,812 in months recent As of and > /... ... .< . Sept. 30, 1945, the balance sheet of Celanese Corp. of America domestic subsidiaries showed total assets of $127,186,307. At that current assets aggregated $55,218,745, compared with,total current liabilities of $6,357,489, leaving a net working capital of $48,861,255. The balance sheet of Tubize Rayon Corp,, as of the same .'-time total disclosed date, total assets .of $23,703,796. * Total current: .assets were $15,810,283,. compared with total current liabilities of $4,775,751," leaving a nqt working capital of $11,034,532.—V. 163, p. 775,v ' ' Central New York Power Corp.^-New Contract—r This Public corporation on Feb! Service Commission ply straight natural gas the Syracuse: Rome pnny Gas has Utica. signed Corp. which a in 20-year assures 8 and filed the place and a of mixed Watertown contract with the petition Federal Central New with Power and (N, the the i New- York Commisuon to sup¬ manufactured; gas in area. The. com- Y.) New York 1 kftsis ivs. York area 19,019' ' . of State Natural an abundant EARNINGS 19,296 / • $391,307 '^'ora m cas . " $117,269 from $338,919 , FOR railway from ry.! oper. -' $318,344 1 140,710 202,276 _ _ 1943 1942,,-, 543,259 ,* *836,035 2,860,827 55,962,109 22,195,944 • ^-923,371 26,079,690 ; «■' 21.669,580 36,794,983 C2,477,894 oa,557,111 ' - -• • — , St. .Loui3 12 MONTHS ' ' ry. oper. income—_ .'i^Deficlt.-^V: 163, p. 190. ' AND 1944 , yV.;r/'77'h^7v.7,'/v7• %>y 23,808 ; - 205,885 Dri28,403 Chicago & Southern Air Lines, I 7', v relationship .to railway—192,046,910 190,401,106 176,644,686:137,067,138 from railway-,-— Net *2,4ol,225 income From Jan: 1-— from DECEMBER 1945 Net J . , fiduciary $12,189,855 $15,603,989 $14,789,917 $13,833,545 ' *9,260,582 V 6,301,918 2,324,105' 4,970,323 railway Net Gross $98,885 their December— Gross * . pai -74,076 of 317,951 337,312 - 1,859,277 Inc.—-Promotions— . Josephs has been appointed as Vice Pre Ident in and administration,, a new office: which has .b6en for the coordination of some of the business banks, $385,376; receivable from sales of fnnobions of the-company. Colonel Joseph's new duties will include, dends and interest receivable, V«27,780; - investments at cost- (value-7among others the coordination and supervision of the treasury, budgbased on market quotations, $14,337,045)r $10,653,581; :total, $11,- i ^ economic planning, personnel and purchasing departments. 7 .co,,TC,' v „ . BALANCE SHEET, DEC. 31, -1945 ASSETS—Cash on ■ deposit with custodian 128,884. :■ -;'Vfrtionel tf.' ' Henry charge or redeposited with "other capital stock,..$62,147; divt-. 7- <7 . • $410,996 breach in Net ' ;; announced Rayon Corp. was incorporated in 1930 in Delaware as Tubize Chatillon Corp. for the puipose of consolidating the Tubize Artificial Silk Co. of America, organized in 1920. and American Chatillon Corp., '.■ organized in 1928. The present corporate: title was assumed in 1943. ./Tubize has. two-main plants, one located at Rome, Ga.^ for lhe pro¬ duction of yarn, and another at Hopewell, Va., for the production, of /.knitted fabrics^, $117,905 .—19,951 Net 'profit "(bef. gain i'ttfiZor loss on sale of plans for a new central research laboratory at Summit; N. J.; a warp-knit portfolio securities) fabric Net plant at Britigewater, Va.; a gam on sa'e of plant for the production of Chemicals, plastics and related products at Belvidere, N. J., and a ;,' ; portfolio securities on yarn-producing plant at Rock Hill. S. C.;,'V'%%;,';%'.! ,J-.,", f ... -"first - in,..first - out",-. has >3V Tubize - Total said Southwestern and in violation of the anti-trust laws." $372,012 ■ Douglas Dougla interests, - Income—Cash dividends title /%%-In- addition, the cornorati^n that Mr, Meyer's claim, amounting to "many .«4iMr.«a nf rfniio millions of dollars," arose from "an alleged conspiracy between Rock I; land and others to control the St. Louis Southwestern to their own Justice $9.97 ' . ■'-.The designations against of finance 7rMfpd to meet the need Jblfte'd the C.: & S./'organization latq.ill October as Executive ^slitaht to the President. He has devoted, d great deal of his time:to , $20,92877 the subject of cost control throughout the C. & b orgamzauon. .of /"capital stock ($1 par), $1,121,880; paid-in surplus, $10,188,544; accu- 7 Carleton Putnam, President also- announced the, appointment BoH. R. mulated net (loss), $233,083; total, $11.126.884.—V. 162, p. 3070. "777 v Richard S.■ Maurer ■ as General Counsel.—^ /. 7' /lander Jr - Vice President and General Counsel, who resigned reb. T, to join Delta Air Lines in an administrative capacity.Mr.- Maurer Cherry-Burrell Corp.—Registers With SEC— 77777;; joined the C. & S. organization in September, 1943. Ke was elected i> T-he company on Feb. g filed a registration statement with the SEC Secretary and Assistant General Counsel in July, 1945.—V, 161, p. 2328. for 40,COO shares,,of cumulative preferred stock, par $160% The divi¬ dend rate, will be file3 by amendment. • -fV-N?:'- '* ''v't :' Cincinnati Milling Machine Co.—Registers With SEC The company is offering 13,549 qf the. 40,OOO /shares of preferred to the holders of its 43,549 shares of 5,% 7/Company has filed with the SEC ,a registration statement covering dividend seriqs, preferred; in ex230 000 shares of common stock (par $10). - Union Securities Corp. change on a .share .for' share basis plu?- a cash adjustment. The ex-«" 5 will head a nation-wide group. of underwriters offering these sharts change offer ,-is-a step-in a plan of ^capitalization-, of /the .company,yin when the registration statement has become effective. , ■ . •> j. ft pursuance; of which 26.451 ?h«»res .of the preferred, .together with J.he.The company is the largest manufacturer of machine tools in the shares not issued in exchange for old preferred, are to be sold to under«• , . LIABILITIES—Payable- . other accounts payable on and repurchases- of capital, stock, accrued' expenses and taxes, $30,615; _ , 1 • and its British subsidiary is the most Important manu¬ machines in the British Empire. Organized in Milling is a leading producer of milling, grinding United States of facturer-. v and machines. broaching u the stock. of common net and earnings industries allied the of sales 1945 In group a financed Motors ^oij'992 32,445 - 1945, stock tax-' administrative capital ^ expenses—,,— Federal income tax— Provision for ' 22,603 981,666 P'razar surplus ——*——— . 31-.-.-- Dec. Surplus, '• ' - — 979,762 The V losses "A 31, 1945 ' '• ' - - cumulative stock , Completed— President, on Feb. 5 in a letter to the holders of cerof National Candy Co., Said: , result of the action taken by the stockholders of National Clinton Clinton has been com¬ pleted.-' ..v: //;'v "The result of this merger is to terminate the existence of National Candy Co. as a separate corporation. The corn refining business of Clinton Co., in which National Candy Co. held ,a controlling stock in¬ terest, as'well as the candy manufacturing business heretofore con¬ ducted directly by National Candy Co., are now divisions of Clinton Industries, Inc. ' " f ' "■ \ L- * i » v, 1' also by the stockholders of of National Candy Co. into (of Delaware) and Delaware), the merger Co. the under Co., Industries, 'Clinton of name tion a tional Candy Co. is merger that your no action any value par or value of part, your on par. (whether Co. because conditions of new definitive be delayed for in the 323 cates common of State Secretary day."—V. of iecorded was 163, - slc Directors' in i finally was New on executed Feb. Castle 4, filed and 1946, County, ' Provision de¬ gen. for expenses, and with 1945' £310,618 will be " weeks ended Dec. to ended • 1945—V. 3. for Fed. 31, barrels, 1945 ' 163, Broadcasting elected Supervisor, was v - ' '»< p. - i ■ excess weeks 480,849 barrels in . *1945 -1 v •'"'y) ^t<•.%;*>■ /, Electric Bronx Interstate York City now There Commission Commerce approves served by Consolidated Edison, approximately 27,000 customers in the territory Involved are in the transfer.—V. deceive $4,972,000 In exchange for all Its proper-, the Westchester of "New > t ■■■:/, 163. p. 777* . . V:- v >■': / a Pacific & Maine1 and the Newport & Richford RR. the money will enable the Passumpsio Ry, informed that which • '':/■ i, ':v'':■ / ■,.. ;:■ .N': -V1:■ ■ per order. :V'/V of its funds. & Maine will Wells the line of will acquire River the to acquire the line of railroad Wells to Junction the Newport from runs River.—V. generated and for the 5.9%. not always possible. Consolidated Film Industries, Inc. rail¬ running from White - t electricity output of week :■ Feb. ending •: 10, ' enjoin a of merger Inc., Republic Pictures Corp. and Setay Corp. was dismissed Chancellor Cana¬ and the Border; Suit to Enjoin —- , Consolidate Film Industries, Feb. 12 by action hed been instituted by Fred L. Yule,, of Los Angeles, a Consolidated stockholder, who had previously been denied a temporary injunction on Nov. 11. The new company formed by the merger is named the Republic Pictures Corp. Under the terms of the merger stockholders of Consolidated received $13 principal amount of new Republic 4% debentures. one share of new $10 par $1 cumulative convertible preferred and 2 shares of new common for each preferred share held. Holders of Consolidated common received 3/4 share of new common for each held: Setay common holders were given 6Mi shares of new common for brought to suit A „ 158, p. 483. purchased) a* Merger Dismissed-— by the Boston & Maine and subleased by the that is , Richford and has other stock Interests. Fassumpsic; leased it reasons to arrange companies in exact alphabetical However, they are always as near alphabetical position It is expected that the Passump- after distribution mechanical NOTE—For possible $1,862,000 are outstanding, and will share lor the holders of the 24,880 Harrington. each held.—V. Dover, The Del. 2013. 162. p. Consolidated Gas Electric Light & Power Co. of Bait.—» Obituary— , Charles Seeks to Mortgage Property and Refund Present Debt has company 18 to secure said Ralph At I H. present called special a consent the to meeting execution of of a possible issue of additional bonds in Consolidated Industries, Inc. conditions subject issues to at such regulatory a prevail as restrictions, substantial at to reduction in present, refund a interest it would large said ':£•! profits taxes, &c. $11,08^,200 $12,928,361 > profits taxes. 6,735,000 8,25o!o00 excess 10 in — Stocks Offered -— As mentioned in our issue of Feb. iT public offering of 120,- convertible ($5 par) preferred stock 000 shares of 6% 120,000 shares of common stock (par 100) was made by Kobbe, Gearhart & Co., Inc., Feb. 8 ■; Hano/at $5 & a and Newburger unit of one preferred and one common share. possible, of these Tap- be portion charges," Feb. and eleven bonds issued by predecessor . HISTORY Mr. AND BUSINESS—Company was, gain from the disposal of radio deducting contingency protaxes thereon station WBT arter „— for possible Federal $4,346,200 $4,678 361 r^.'^'^1,000,000 Net income for period $5,346,200 •Total earnings per share.— J ' $3.11 Earnings per share from extraordinary gain— 0.58 Earnings per share from operations 2.53 — "The 1945 results upon the Dec. 29, are $4,678,361 —— $2.72 subject to the audit 1,717,076 shares of $2.50 now par 2.72 being made. May 12, * ■ • value stock , tCalcu- ■ 314% outstanding 1945. Edison directors 011 Gas & Electric "30 000,000 of New York, 1st consoli- 5%, due July 1, 1995 Light, Heat & Power Co.: • " CAPITALIZATION, . 11,437,000 '♦ • • •■• • on Feb. 6 declared a cash dividend of 40 par cents 1st mtge. 5% gold bonds, due Dec. 1, 1948 ^ Purchase money gold 4% bonds, due Feb. 1, 1949_^.____ New Amsterdam Gas Co. 1st consolidated mtge. 5% gold per value, pay¬ Hollister has resigned as Vice-President of this corporation 308epresentative iU New York of RKO Radio Pictures, bonds, due Jan. 1, 1948~_ Brooklyn , Edison Co., Inc.,' (open end mortgage): 314% series of 1936, due 3% series due 14,792,000 $8,482,000 mortgage 15, _._1_ 6% cum. Common By —$2,745,000 bonds — consolidating . 15, 1966 1968 "55,000,000 "4,240,000 value lative pfd. stk. conv. stock (par amendment EFFECT TO PRESENT to (par $5)—— 10c.) the —• 120,000 shs. 1,100,000 shs, FINANCING Outstanding articles of company's ; 120,000 shs. 618,000 shs. incorporation which authorized capital stock was value common stock and 1,000 of $100 par value preferred stock to 1,100,000 shares of 10c, par common stock and 120,000 shares of $5 par value 67« cumu¬ convertible nreferred stock. The holders of the $100 par value became changed shares May 1968, due Nov. GIVING Authorized . Present class A and class B stock of $2.50 p York 1966 1, Illuminating Co. dated mortgage gold bonds, New March 8 to holders of record Feb. 21. Payments last year were as follows: March 2. June l and Sept. 7, 40 cents each; and Dec. 7 a year-end of 60 cents. _?mi63 series E, due April Elfectric , 40-Cent Dividend— ; incorporated in Indiana 1944, to manufacture, assemble and distribute automatic coal & scott's letter. „ stokers' oil burners, low temperature home freezing units and kindred Under New York Stock Corporation .Law, an < affirmative vote of articles in heating and air conditioning. Company was incorporated two-thirds of the stockholders of the company is needed to authorize through the efforts of W. T. Winter, now President, and R. G. the execution of the mortgage. .Herbig, now Secretary, Treasurer. , ? ' -Mh The long term debt of the company represented by debentures or :.The principal activity of the company at the present time Is the bonds outstanding in the hands of the public, as of Dec. 31, 1945, 'V assembly and sale of automatic coal stokers. As- at the present time t- was as follows: ; y.n ■/ -5 i; v:;-: •<-: the company has produced and sold class A and class B bituminous DEBENTURES OF THE COMPANY'• ; ' ; stokers. Class B stokers are those stokers/which have a feeding (Not secured by lien on the property of the company) capacity of less than 61 pounds of coal per hour and are used in % residences. \ Class A stokers are those stokers which have a feeding 10-year 3 Ms% debentures, series due 1948, due April 1, 1948,$60,000,000 capacity of 61 pounds to 1,200 pounds of coal per hour and these v 20-year 3J/2% debentures, series due 1956, due April 1, -1956 "35,000,000 stokers are used for industrial and commercial purposes. .\ 20-year 3y2% debentures, series due 1958, due Jan.' 1, 1958- "30,000,000 In addition to the production and sale of class A and class B automatic coal stokers, the company presently intends to produce and Total debentures of the company _$125,000,000 sell oil and gas burners, units for coal, oil and gas furnaces for residence purposes, home food freezers and kindred heating and / MORTGAGE BONDS OF THE COMPANY ,<,' •; freezing units as soon, as, possible. The company has recently given(Not secured by lien on the property of the company) purchase orders to two other manufacturers for 12,500 domestic oil -/ New York Edison Co., Inc., 1st lien and refunding mort-'i burners, at an approximate total cost of $500,000, to be delivered to : '• gage bonds (open end mortgage): :\V•--■•.••'••'•'■>the company during the year 1946, which the company proposes to 314% series D, due Oct. 1„ 1965___ L,-„_-/L._._;__u-"$55,000,000 sell under the name "Consolidated." : « V •%.; t five % companies, outstanding in the total principal amount of $323,151,000. Of these, $304,240,000 are callable with an average annual interest rate of 3.37%. "Under market on ' future," the Wollman; 'Treasurer, died suddenly He was 56 years old.—V. 163, p. 776. Edward Baltimore, Md. stockholders' for mortgage. on its Tapscott, President, in a letter to stockholders. the company has three series of debentures and of mortgage ■•series ■ the and company, ending 1944 Lighting Westchester ' barrels the and Westchester Lighting Electric Light & Power Co. petition states that "no Interruption or change in the service result from the transfer of the property from Company to the Consolidated Company." The elec¬ tric rates now in effect in the Bronx territory served by the West¬ chester Company are the same as rates in effect in the other parts 178,200,000 kwh., for .the corresponding week of last year, an increase -of 190. V - income and five for Corp. electric energy, will the RR^^urchase^ O . £93,453 Steam The Yonkers of The of amounting to 191,200,000 kwh., compared with 192,900,000 kwh. for the corresponding week of 1945, a decrease of 0.9%. . Local distributton of electricity amounted to 188,700,000 kwh., compared with 217,676 J# ■; - vision inc Bjork Mr. 1946, System, Inc.—Earnings— Extraordinary . the (electricity 900 11 ' been < 15,762 against as and 589,180 operations.— 1 duties. The company on Feb. 13 announced that System " ' 67,695 £90,255 production that its 624,910 Dec. from able has surplus unassigned property and franchises. ' , ^ •... "This is a preliminary step to refunding the long term debt of the 47,751 • York New To Acquire Properties— its contingency funds from Consolidated Edison Co. of New York, Inc.—Output— same 32,392 41,749 income The of Pacific) Boston £395,487 240,256 ♦:?>.,« 234,693 etc announces amounted 1946 four before Fed. inc. and of if dissolved (now Hiver 1943 $ * guaranteed by the company. are „ 1944 £405,992 900 ' ,; , 900 of th«r debdhtures Co.' and in insurance copy the on 3 ——£9,594 company Net as ^ s was dian the certified a Delaware, depreciation-^__,-_i__11-^;: 18,118 Calendar Years— .ated life of amount strengthened and his new Canadian road Ltd.—Earnings— ' Sept. 30— —„ Columbia Inc. $15,898,000 assets interests * Prov. total agreement between the three companies who are applying for authority to purchase the railroad, the Canadian Pacific will acquire a controlling interest in the Newport as well as other stock Including intangible drilling expenditure on producing fields amount¬ ing to £37,996 In 1945, £25,314 in 1944 and £26,509 In 1943.- weeks the natural result of the ending of the war a ■ Co. bonds The Under the ■ 4. of was ■ Light, Heat & Power Co., assumed by the Consolidated Gas & Electric Edison ; the Company ' ' I.C.C. March fees and the : 3.7%. stock of the Newport & ^ "Drilling,, production and field exps. The business. paid the of claims 6.1% included . r Colon Development Co., in of branches all in 1 Including $1,290,000 owned by the Consolidated Edison Co. and pledged with the trustee of and in accordance with the terms of the first mortgage of the New York '■/: The Passumpsio owns a line of; railroad etending from White River Junction, Vt. to the Canadian border. It also owns all the capital request is made , Delaware 776. p. 3 Mos. Ended Total income Feb. to -iJ the The Profit low ^shares of outstanding capital stock. "Only 34 shares, held by two stockholders, tut of a total of 578,445 shares entitled to vote at the meeting of stockholders of National Candy Co. were voted against the merger and that not a single stock¬ holder of either of the merged companies has elected to exercise the rights of appraisal which were available to stockholders dissatisfied Admin, been company will -The St. Louis (2), Mo., in exchange for certifi¬ capital stock of National Candy Co. the merger. "The merger agreement mortgaged: 4 1, 2004L—J: "9,993,000 SNot $Non-cailable- "Callable. ^ be to pay overdue bonds, of leave an average of $125 engraving industry are such that preparation with Co.;.1 general 100-year gold coupon bonds, 4%,- due July ; 1 the \ <■ and RR., time. or "25,000,000 ii— Total debentures of subsidiaries—__ — $23,225,000 North Broadway, for thereof agency to for stoc^c in Clinton Industries, Inc. will However, provision has been made for the issuance of new temporary stock certificaes and these are available at the office of the company's transfer agent, St. Louis Union Trust Co., ties - certificates some ' $8,684,000 —— 1, 1967 (open pending purchase application submitted jointly by the Boston - good —.—— series due July bonds 3'/a% ^'(//Total mortgage bonds of subsidiaries ———$71,659,000 Telegraph & Electrical Subway *Co.' 20-year, debentures due Jan. 1, I960———J,* §13,710,000 Yonkers Electric Light & Power Co, 12-year 3Va% deben¬ tures, series due June.l, 1950-———-——— "9,515,000 began in the early war years. of The of effect 1950 1, mtge. mortgage) — _i——— New York & Westchester Lighting said regular life insurance assuming [j U , temporary certificates of Clinton Industries, Inc. to liveries of stock under sales or other transfers.-This . 3 V4% For the entire duration of the war, the proportion of 1945 due Consolidated Hartford, Co., 81st annual report, for the year in part: > ordinary business, 17.3 % ahead of the total premium Income, the largest in President by Three Railroads— or or " • T Insurance Connecticut & Passui^pisic ; your common Jersey New Life Dec. end '* and Dr. Beach since April 1943 has been in the Medical Army Air Corps; receiving his discharge as Major in Jan. 1946.—-V. 162, P. 1886, 1 , < ' v\ old certificates for shares capital stock in National Delaware) now represent shares in Clintton Industries, Inc. Such certificates for $8.33% par value stock now represent the same number of shares of $1 par value stock: In Clinton Industries, Inc. Such certificates for shares of no par value now represent three times as many shares of stock of $1 par value in Clinton Industries, Inc. ' ' ' ^ ' ""Holders of National Candy Company stock certificates are requested not to present such certificates for exchange until thev are notified that definitive engraved certificates ale ready, unless they need new Without Inc. of Candy 776. p. due General +:• Loans, Section : shares of stodk in Na¬ have been converted into shares of Clinton Industries, the of to City Inc.,' . result "Another 163, % r> 'y Subsidiaries series 3%% bonds mtge. 1st July.l, 1963 (open end mortgage)— —"$27,982,000 Westchester Lighting Co. 1st mtge. 5% 50-year gold bonds, W: •' ' Corp. Steam • on Clizbe, a of energy York . tilicates of stock (of ~ SUBSIDIARIES COMPANY'S ' $51,873,870.—tV. 162, p. 453. E. It1' - OF DEBT TaiKivl ■ Increased In a petition filed jointly by both companies. Feb. 7, the New York from $17,604,594, to $20,696,809. : ; P. S. Commission was. asked to authorize the sale of the electric propVr "The funds with which to make these additions to: security were •; erty of Westchester Lighting Co; in; the Bronx to Consolidated Edison | obtained largely from investment gains,i which have been realized Co; of New York, Inc. < - ? & for the same reason which makes this use of them necessary, namelySince its Incorporation- in J.900. Westchester; Lighting'C<v»which is today's low intrest rates. It is a well-known fact that when interest a wholly-owned subsidiary of Consolidated, has supplied electric ser¬ rates decline the value of securities which yield a fixed income in¬ vice to an Irregular area of about nine square miles in the north¬ creases. A large share of our investment gains has been due to the east section of the Bronx. Included are the sections known as City redemption of bonds at favorable figures. The money so obtained, Island, Pelham Bay Park, Williamsbridge and Wakefield, which, as however, must now be reinvested at a lower interest rate. "Total assets passed $500,000,000 dui'ing 1945, marking a milestone /"villages, granted franchises to predecessor companies of Westchester lighting; Cov beforeithese'sections were.annexed; to the City of NOW? in the Company's growth." York as part of the Borough of the Bronx. Officials Promoted— The Petition to the Public Service Commission Indicates that the transfer of property will be made for $1,281,500, which is the original Frazar B. Wilde, President, has announced the' advancement of cost of the property less depreciation reserve. The petition also points Robert K. Metcalf to the newly created office of an additional Com¬ out that all meter reading and billing and construction and main¬ pany Secretary, Irving G. Bjork to Assistant Secretary and Dr. Carroll tenance operations of the Westchester Company in this section have C. Beach, Jr., ;to Assistant Medical Director.been carried on by departments of Consolidated Edison- Company Mr. Metcalf, who in 1943 was elected Secretary of the Accident and handling similar operations in the New York City territory. Claim Departments, will continue to direct these departments in addi¬ (no Clinton Industries, Inc.—Merger -i company Mortgage Bonds, and Debentures of Company's- < New • force, which reversal of the trend of phenomenal growth in group insur¬ "During ( common electric of 14.21%.—V. or $80,000,000 decrease which ance preferred stock, $262,500; reserve for liability for excess profits taxes), $981,666; non-voting preferred stock (par $100), $15,000,000; (par $100), $15,000,000; surplus, $20,629,704; total, LIABILITIES—Dividend 1945 Federal income tax for has slight ^caused Pont du .v•'-at*•• •'*v•:v,;-?;. follows: as r ap- $1 par value. '• continue to $1,784,564,736, 8. Treasury notes (at cost), $975,000; de Nemours & Co. (3,049,800 shares), $44,659,257; investment in other companies (at cost), $5,937,352; total, $51,873,870. * 1 y v > f r ~ I. and ratios loss ratio war t $302,260;? U. E. in ' upon the company's Wilde, for war losses. \ $20,629,704 $20,629,893 $95.55 $95.24 - stock.— SHEET,,DEC. BALANCE ASSETS—Cash, investments '•'As PRESENT LONG I,, The Corp.—Weekly Output— ' indicate previous year, $12,326,000 Earnings per -share on common output Genera! B. results "Loss ' $189 :: > $1,369 20,679,893 20,631,262 surplus———.— in decrease •:• company-*.—$198,15LOOQ $ Non-callable. •Callable. • . has been York New of stock, common the- company's: history. . —'—.———$15,382,311 $15,336,131 Dividend distribution—preferred stock, 7% — 1,050,000 1,050,000 Common stock —~—>——-—— 14,332,500 14,287,500v Previous City Southern hour r In commenting ;i 35,000 for the year Net income the of decrease of 38,224,391 a 1945, 22,043 r :v ,Total mortgage bonds of carry Conn.—Results for 1945— 74,600 3^ • ° & kilowatt Connecticut ; $16,387,483 $16,373,495 Total income«—-• Miscellaneous Bank '.*'•'•• 32,445 . weekly "1945 Candy to subsidiaries }'. of this corporation adjusted to show general business conditions of territory served for the week ended Feb. 7, 1946 amounted to 230,742,611 as compared with 268,967,002 for the corresponding week in ; 74,600 ( used—' 13;988 • >——-—t—•—i—* Co.— notes om tax Chase National The . , on Nemours & News-Journal Interest Co. free now Commonwealth amortized. been fully have Corp— Wilmington Trust R. is ;_Vpointed transfer agent of the 1945 1944 common stock: . Co.——L—$16,011,450 $16,011,450 , received Pont de du General 7% . ■ capital and 31— Years Ended Dec. Income—dividends Net • . • working of out Federal ?■ ■ 'is Christiana'Securities Co.—Earnings— The 1 Commodore Hotel, Inc.—Transfer Agent—-, and additions I. Oct. i, ^ $1,455,000 Light & Power Co., 1st and ; i consolidating mortgage bonds (open end mortgage);-. .•/•Vy^'--•>•'•: > • ' 3%% series of 1935, due Nov. 1, 1965^ i "25,000,000 ■./:3 v^'/e series due laod, aue wiay 1, laoo—"au.uuu.UUO ..\V. -6% 99-year gola Duna»,- uue New York & Queens Electric % share stock, no par value, payable April 4 to holders of A like amount was disbursed on April 5 and Nov, 9. corporation The v past six years the company expended about $13,000,000 improvements to its property. Such additions were the •During 11. per die, foreign customers. for cents 10 has four operating subsidiaries. Unless and: until'any 't Wellesv|lle„ N, Y., for $2,651,110. The latter two companies; Coof these subsidiaries are merged into or consolidated with the company,; ,;'lumbia Qak says, made the highest bid for the stock,-which attracted £-vtheir properties1 would not be subject to any mortgage executed by the six .offers, the lowest being $2,184,000.-—V. 163,. p. 308. • -company pursuant to the consent requested.i!f;Theli^'long term' debt nnn equipment, agricultural implement, industrial machineryf and bearing industries. Export sales have always rep¬ resented an important part of the company's business and currently more tnan half of unfilled orders are represented by demands of and of through its plan to sell 14,000; shares of the capital stock of the Ohio Fuel Supply Co. to the Texas; Gulf Producing Co. of Houston and the- Bradley Producing Co, of electrical tool dividend a •:->;- The exceeded $43,000,000 $2,200,000. While the automobile and are normally the largest customers ot wide variety of manufacturers including, over were as nnn declared 7 To Sell Stock of Ohio Fuel Supply Co.— : and subsidiaries company it sells to a very company, ' , , .... Feb. on common record March 15, last year.-; i being registered, the company and shares 230,000 directors the 011 . 113,113 shares are being by stockholders of 116,887 shares are being sold by the company to reimburse itself for the redemption of a previously outstanding preferred stock and for other corporate pur¬ poses made during 1945. Following this financing the company will have outstanding $4,887,420 of 4% preferred stock and 850,000 shares Of sold The V: Kings County Electric Light & Power Co., purchase money> Columbia Gas & Electric Corp.—10-Cent Dividend— * milling Cincinnati 1884, the Monday, February 18,* 1946 THE COMMERCIAL & FINANCIAL CHRONICLE C98 effective from on Jan. 31, 1946, 50,000 shares of $1 the par [Volume/l63 THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 r exchanged their shares, 0n the ratio of the $1 par value common stock; and the value common *stock outstanding exchanged tanks preferred stock outstanding 1 for 10, for 3,150 shares formance holders Mr. their of the shares, $1 par the in of ratio shares for 622,500 for 30, 1 of the tank destroyers. Power out.out and other Atlantic PURPOSE—Net ■ . mated for to proceeds The annual 'being asked meeting to of stockholders consider and act to held be upon March 175,000 The is 1946, 19, the esti- are company presently company intends yto payment. will , - • .n it u • • '• a • , , ■■ , be •If _ „ (4) The jpany . , . stockholders '. INCOME 31/45 $681,265 discounts, returns and allow.— 520,236 Selling, admin, and general - J the same Other income $77,034 7,730 — ... plish iheome —™————/ * 1 Other deductions Normal income tai add* surtax! Excess profits tax— sale to ,,1,288 , each of capital r the create substantial the from shares to new a present the issued in in exchange for the sale or of additional stock presently 0/s in mind. 1945 Net ' sales several profit •—.I*--.* ♦Loss.—V. 1G3, p. 777. •$7,319 $35,372;. ; - net assets $29,141,555 shares in of which net market was beneficial the 1944 at equal interest assets market the.company holdings: typea of $86.98 estimated or the on 31, shares outstanding time. that at • and (in 1945) premium on redemption thereof: Loss on sale or dismantlement of properties, etc. Provision for .contingencies r , . Provision , , - , General market Investments in special situations $15,322,433 9,612,391 v 2,027,479 1,705,125 ——— - Preferred "stocks Railroad bonds Cash,: receivables Total - — (net) i AND EXPENSE STATEMENT YEAR DEC. BALANCE SHEET DEC. 31, 1945 ASSETS—Cash, $411,707; investments (market $13,889,657; dividends receivable, $5,544; accrued notes and accounts ceivable/ $8,700; deferred receivable, $48,278; items, $425; total, LIABILITIES—Accounts gain f A ($1 par), ^ " i1 '1 1 ( interest investment 1 *— - ! income surplus, $103,492; v * t total, 3U *i $14,365,001, *! > .. UNDERWRITING—' Premiums written Inc. in / 3«45 1944 31 * earned _1 in $29,019,663 $26,936,558 $27,098,759 Losses' 16,040,561 Expenses , 10,819,450 11,459,879 Underwriting profit' made, by $1,611,661 5,174,861 5,006,051 175,162 163,322 $4,842,729 Total net surplus-,^ y. stocks and bonds Total $5,496,599 11,303,601 of Special reserves Federal income Cash dividends tax———— Cr991,774 1,423,221 3,999,985 —- declared——— ' ———, Crl41,782 surplus, Dec. 31 balance assets— dec. 31, profit- tax). ' — Portion of Cash Barrels, Net surplus f all other ;_-Jq for „ war / I—i 95,139,394 stocks . on had been used the total admitted assets would be $162,690,479 and policyholders' surplus $118,632,642. tSecurities carried at $1,814,039 in the above statement are deposited for purposes M required 162, by law.—V. Continental Motors v C. to —_L at earned Cr25,000 surplus to ; > the $615,210. SHEETS, SEPT. also and , A retaining stock. Net profit for inventory obsolescence and attributable to the ending of the war, war period post-war a reserve of $180,000 develop In the future, but may and its owns Drug Co. was Ohio. Closed stock Stock This thereon have stock been of operates Since chain a Sept. 30, ■" of 43 1945, ;. during the retail the „ $0.06 _u, of the company was Exchange in January, prior preference stock more which were than meets 178,670/ admitted to . of/ 99. Cunr . listing ■/ on the 1945. was A total of 511 shares retired during the year, 1944 1943 $6,842,074 $7,741,361 $7,028,191 186,116 Post-war $2,180,909 $208,468 123,134 ; : 117,319" .V 35,000 < , / of $536,472 in 1946—Month—1945 $923,294 >• 5,366,821 $2,115,840 30,817 . "%$2,144,311 $2,144,311 $2,146,657 S 11,938 inc —— tax and surtax—. profits tax— 4,903,8721 $2,124,318 ' 21,527 . refund - of excess prof, tax decline in inven- per $2,145,846 V. common 5,516 283.000 283,500 1,424,500 S 1,369,000 0*142,450 Crl36,900 ' 100,000 - class A prior prel. stockon common stock 1— on 12,101 290,000 1,227,000 Dividends Earnings 105,782 $615,210 5,078 $569,668 11,148 238,385 share /CONSOLIDATED $3.18 BALANCE SHEET, SEPT. 238.047 R $2.92 30, 1945 ; $524,730 ;. 12,624 238,497 $2.68 A - ' ASSETS—Cash, $1,414,828; U. S. Treasury tax notes (at cost and interest)', $1,057,651; trade accounts receivable (less reserve of $12,500), $47,975; refundable Federal, excess profits taxes, $158,847; inventories, at lower of cost (first-in, first-out basis) or market (after deducting reserve of $175,000), $3,639,880; capital stock of subsidiaries not" consolidated, at 'cost (undistributed net. earnings of approxi¬ mately $209,000 since dates of acquisition have not been taken up), $330,257; advances to wholly owned subsidiaries not consolidated, $488,165; cash surrender value of insurance on lives of officers, $52,100; notes receivable from officers, $3,487; miscellaneous notes, accounts and investments, (less reserves of $7,763)$94,208 property, accrued $2,180,909' and $488,500 in 1946—4 Mos.—1945 ^ — Surplus / 60,000 .1 1,751.800 /;V 3,432 def.48,106 15,184 1945 fA: vf&i '*' ¥ •; J.') r'v 5,670,253 for post-war tory: prices 99,633 1,751,800 . $7,482,661 $2,071,108 73,203 excess Prov. Co.—January Sales Rose 18.6%— " . $7,562,270/ $7,293,043 $7,562,270 179,091 189,618 . normal, 42,869 , .' ^ a total for redemption as of Sept. sinking fund requirements on the ———_ deductions Fed. Federal 209,778 $2,257,668 for depreciation 190. p. Other 125,000 320,496 3,432 $1,095,201 163, and $20,920,169 $20,438,381 $18,874,922 13,357,899 13,145,337 12,032,848 sold —— $211,799 Total ———_—— —V. In directors v.v- income Total 998,534 expenses.--—-— ■. Period End. Jan. 31— of 1944 $305,562 Diva, accrued Sales stores called the — profit $2,257;668 ■ Earned ."surplus Crown Drug , Net l 2515. Schettler Drug income, for board * . year,*leaving, expenses, etp. . 350,657 '160,255 j— p. The included in Selling, advertising, warehouse, de¬ livery, administrative and general 42,532 for 162, Cunning¬ , goods 972,879 ,: reserves The remaining Inc., , stock. 235,973 taxes •After for are termination. of the preferred part received Operating profit operating income— Other ; . containers^ with customers.— Reserve for war and post-war contingencies Capital stock ($1 par value) ; ; 87,590 150,537' market— or — surplus , profit for and dividends York Cost of $104,042 ■v.'; :$344,836: and bottles at cost (net)——— Accounts payable and net Bulletins, Inc., incidental non-retail subsidiaries the past, have not been included in consolidation. The Net sales 30 ;• (net)—. cost ^ Capital 87,590 * receivable of The CONSOLIDATED INCOME STATEMENT, YEARS ENDED SEPT/ 30// >•' $0.09 _ lower / : . | plant $4,862,445# $4,063,008 and $1 535,049; • V laneous equipment (after reserves for depreciation of $844,760). rentals and miscel¬ goodwill, $1; prepaid taxes, insurance, $161,368; total, $8,983,817*. expenses, „ /■/it': Substantial orders have been ,/ the Total income /■'/•;/ $150,881 - — Total Corp./—Producing New Engine—^ President dn Feb. production of a new are Other cost—J notes at charges I944.r-V. Reese, started / in substance: ended 30, 1945. $104,042 : / 12 announced that this corporation 9-cyiinder. radial air-cooled airplane engine for postwar executive type and medium size transport planes to be manufactured by Beech Aircraft Corp. and the Lockheed Aircraft Corp. ' .■ V has / J. 1510. p to /, of 6 7o class A including 253 shares ;80,071 • 1945 cases Deferred Reserve basis, approved by National Association 61 '.Insurance j Commissioners,—If actual Dec, 31„ 1945 market quotations of bonds ' and is company Realty Co., New 3,631 share———: and Accrued .Total'—U—$159,197^31 •Valuations of which some One kstore $187:743 $125,880 , — post-war conrequired—i longer LIABILITIES-— 142,231 f 20,000,000 — * has E. and .'•Fixed assets ii./_ 2,000,000 claims—v. u.-—' x deducting the annual dividend requirements of $6 a outstanding plass .A prior preference stock amounted The Marshall $181,810 3,933 102,957 - —— Capital 1945, reported net 729,000 capital the on K • ningham and Shaperov stores in operation at Sept. 30, 1945. ; 365 exp., 1—__-u—■..:• Accounts LIABILITIES Reserve' for data, approxi¬ has.authorized the purchase of the remaining one-third of the common stock of Marshall. Marshall has outstanding 6,275 shares-of $100 par 0 value 5% preferred stock, all of which is owned by outside interests. The Schettler Drug Co. operates a chain of 10 retail stores 5 in the $229,202 u-j———■ and transferred Investments, Unearned premiums —w-.—$29,409,158 Losses in process pf adjustment-w-—— 10,435,748 Resarve - for - taxes and expenses2,070,700 ; dividends— shkre a * the year. 143,164 148,254 BALANCE $159,197,231 for the the company 331,232 , $221,66$ payable Inventories Reserve wilt be not include the equity of the company in the which equity for, the Sept: 30, 1945, amounted to approximately $125,000, in¬ cluding $50,571 attributable to ownership of two-thirds of the common stock of the Marshall Drug Co. and $23,418 attributable to ownership Co. 207,988 235,434 379,038 ■ASSETS— - 345,432 — $3.14 649. * — no Earnings. per 5,396,087 All other' assets————— Jr., 0 which, as in $864,193 —' i— reserve -tingencles Dividend 259,272 —. incomplete . 243,451 7,534 disc, Balance ' 3,388,702 .JZ -r of 1945 ended Sept. 30, year to p. basis year The net profits do $3,625,246 - $984,394 - 192,913 Agents balanced, (not 90 days overdue tne fiscal Norris after on year 2,761,053 int. on debs.-, etc— Provision for Federal.and State taxes— t$149,614,825 /Cash on deposit and in office;-—_—r—— the full - $569,668 ham $3,868,697 3,038,016 -a—— /Net profit for the year—-. 1945 stocks .Interest .accrued revenue expenses ?/Total profit 3,999,984 estate Total (incl. Federal income Debenture — ■ •Bonds and Real sheet On the 1945 $98,632,643 $92,345,561 $80,185,183 „„ for g of all of the common stock of The Schettler Drug Co. /. equity is derived from Essex Cigar Co., Goody Sweets, 1944 $4,260,518 Operating profit - Net as Shapero, President, in the company's annual report for the year class _ Dr51,587 : Hershey Atlantic net profits of iti unconsolidated subsidiaries, , $4,022,410 Administrative 886,307; 3,999,984 S. attributable /. } being was 238,108 Selling expenses Shipping 'expenses $118,070,074 $97,373,634 $84,185,167 15,000,00^ net 0 possible use to offset losses which v 1945 Net-- sales Other surplus to capital—— for around-Cleveland, 12,883,409 18,628,118 A. The-common 611,881 Z— (net)— to . 64,253,665 388,252 Cuban $3.18 per share on the outstanding common the year is after provision for determinable in increasing numbers toys.-—W 163, p. 68, tax. Cost of goods sold $6,384,625 80,185,183 485,035 Close allowances, discounts and ^Iassachu-; sales "Gross; operating $6,611,361. — — Transfer 4,786,600 92,345,561 —- Previous $1,774,267. than that figure. .Detroit Metropolitan Area. $4,088,289 ProL.oh sales of stks, & bds. (net). Inc., in market value .of real estate,, of estimates Atlantic to used even 698,311 $4,999,699 ; - Net Investment income/ being were equipment, . setts . Interest, dividends fthd l/ehts^M-«U Expenses Nate share Brewing Co.—Annual Report— Returns, $2,296,336 $653,870 the .company all kinds of electronic ' INVESTMENTS— . profit Gearen, but slated that output of capacitors Years Ended Sept. 30— Sales 13,342,543 /11,367,440 ' 15,463,237 F, the ., at Croft premiums assets of months net year ended Sept. 30, 1945, said Net profit increased from new those 1943 —$31,935,122 $29,489,719 $27,372,774 premium reserve2,915,459 2,553,162 274,016 unearned consolidated basis .total other prqd- the year sugar. Cunningham Drug Stores, Inc.—Annual Report— wages,, close to the wartime rate of production because of the applications for these products that have been developed since the start of the war. He pointed out that, not only had capacitor-type motors become popular once again, but capacitors such as many years ending dec. Blake, President, continued '7 Continental Insurance Co.-—Earnings—* / Income and profit aqcount, (trade), $446,149; accrued $383,769; accrued State, local and The Octave 1 * refined and sugar Last plant. of been elected Secretary to succeed the late J.-Will, head of the tax department, has been elected Assistant Secretary.—-V. 163, p. 308. ;//•'••• corporation reports that gross sal# for January totaled $1,881,057.'only slightly less than the $2,074,240 reported for January, 1945, when .the company ; was heavily engaged war work./ Thi^ compared with gross sales of $275,507 for*. January, 1940. ^ i : v payable,; $1,150; provision for taxes, $69; paid-in surplus, $9,764,176; capital; ' s payable and Cornell-Dubiliei* Electric Corp.- -Production Wartime Peak- re■ nine a mark-downs, receivable, accounts $14,365,001. transporting power pounds stated to be about $5,750,000, giving effect to tne sale. ended Sept. 30, 1945, the Hershey properties gre the Richard J. $28,667,429); $335,054; surplus, $4,161,060; 162/ p, 2815. —V. v stock value for electric Cudahy Packing Co.--New Secretary, etc.— commissions, other general taxes, $207,289; reserve for Federal income taxes, $590,600; reserves, $1,149,185; common stock (200,648 shares, no par), $5,279,300; Initial; and ^capital/surplus; ; $l,632,598j : earned " surplus, $4,893,241; common stock held in treasury (87 shares), Dr$3,057; total, $14,579,075,-V. 163, p. 777.' '' $868,398 904,643 _— track 1945 on . rliabilities—Accounts salaries Cr 1,132 (exclusive of capital gains and losses)-,---— an of $2,289,000, equal shares outstanding.—V. 163, $9,487,101), $7,101,947; patents, $1; deferred charges, $19,315; total/ $14,579,075. 65,180 —v sugar produced at and possible increase, Assurance, ciation of $867,266 ; —., a take-off horsepower power r The will rating with carry of a 525 geared from 6 to received horsepower drive, 14 he for the with said. passengers. -: a new . The ; engine which has direct planes drive and which it 600 will • engine -is an improved version of the Famous R-975 450 horsepower radial engine which Continental built by the thousands //during the war years to power medium (30-ton) new tanks, amphibious . to income f. inventories, $4,277,023; miscellaneous investments, $41,037; buildings, machinery and equipment (after reserve for depre¬ land, . u0, 1945> would be increased from $16,988,000 to $33,568,000. ed net current assets of the Hershey Cuban enterprise as date Cuban $785,906; $932,446 -r- 31, of and imanagement $2.54 DEC. of 01 author? the n on into the Hershey refinery from your five mills villas Province may permit economies hitherto miles mately $100,000 less 401,122 $3.05 ' For $508,660 401,122 increase an stork your company's principal purpose in this supplement and diversify Its present Cuban to sugar Las forma pro reported __■ $612,542 and canita! n«r -However, 126 fi,COni that # of 350,000 495,000 / raw and seaport a ml ep hand, $1,343,704; U. S. Government securities, at cost plus accrued-, interest, $1,010,143; accounts receivable (after reserve for doubtful accounts and discounts of $191,598), 1945 31, . paid surtax—"— CONSOLIDATED BALANCE SHEET, $86.98 ENDED to 7,737 I."?-.":- L is refinery produced .4,185,000 33,749 7,566 100,000 dividends ASSETS—Cash in banks and . * • and Earned per1 capital share--— -6.05 J 5.09 / —___ Net income capital 28,69 ■ -Z Dividends Common 1.42 Adj. Fed. inc. and capital stock taxes priofc years $691; $45,73 474,126 income Net ■'income normal share./ $29,141,555 — Expenses ■' —- —^ INCOME Total ; — Federal . stocks-- common Per Value ~ . for Amount Total ; • about ucts $900,146; ;; 30,228 .. ' sugar 64,946 $1,245,337 Interest and amortization expense on debentures amounted "to value The ■ $835,200 116,009 share common they will then vote uxuieiicu preferred oiuck. change stock cxiuixue of merging of operations or personnel is not The Hershey properties would add about oneCuban-Auantic'sP'iaw sugar producing capacity. " Hershey Cuban properties consits of three raw sugar mills, a refinery, 60,000 acres of-land and an-electrified railroad line On 31, 1945 consisted of the following on Dec, $1,129,327 income new new third to wicn . Other of ux shares presently contemplated." : 439,193 .494,381 - 1945 amounted to per share on the 335,054 On the corresponding date outstanding. at $20,686,900/ equal/to-$61.72 Net assets of to Dec. of as depreciation acquisition, shares oiioico your/present Cuban-mills. Macanzas —_____ Profit, from Consolidated Investment Trust-^-Annual Report— Total for , of this flow of impracticable. $23,564,277 $22,474,066 /Cost of sales, exclusive of depreciation-,—/.;..—-: 20,616,344 19,905,099 r Administrative, selling and general expenses-— 1,324,223 1,294,572 Provision the 60,000 uv,ui/u to acquisition of - Net the company elects will depend on sub¬ but it is not contemplated that an offering outstandlnu of stock in 1944' •, . and interests, particularly throught the Hershey sugar refinery, which .the largest-in Cuba* enjoys an* outstanding position in the Cuban industry, and has been a substantial outlet for raw advisable, to provide for business expansion by additional stock. However, the board of directors has no plan of and preferred same stockholder^ sugar found the issuance stock Cuban; enterprises, proposed it make the ways, cumulative 1,250,000 shares. After allowing for the maxi¬ 275,000 common snares involved? in the Hershey deal there a balance of 246,000 authorized common shares which would of Hershey consolidated income statement, years ended dec. 31 . 30,000 and of two of 5% common ' . number of respect of transfer taxes of authorized shares will remainder either new, new capital or other purposes. ■ The by-laws would also be amended to increase the Cuban-Atlantic board of directors from eight to 10 members. In addition to the exist¬ ing* members is is proposed that the two new positions be filled by Parrish N. Hershey and Percy A. Staples, both Identified with the Rershey operationsfor some years, ' ■ ! In a letter to stockholders, L. A. Crosby, President of the Cubansaid: "Aside from the intrinsic value of the well-integrated general interest in the stock and the low unit par value will accom¬ while shares in par par > present amount of the amount necessary is be $100 $5 /be reserved for future'working shares; non-par the txic number would be more economies unissued •$6,030 4,451 .13,000 ' ■ of marketability, substantial TT'. ^ ' $84,824' ——-' tend its possible,, when v, for Total will improve •$6,030 ., stated to 729 000 common mum / now -shares 25,986 expenses-—— Operating profit of "the outstanding. /•///'■'/■/./; .f.v It is believed by the board of directors that the increased />; - / shares for common the par value cover those 88,522 83,934 _—.*■ par . to to V -r/ Apr. 30/45 $108,477 Oct. Cost of products sold new //; $5,279,300 to the amount-of $7,022,680 which May 12, '44 r sales less the and--increase' STATEMENT 6Mos. End. Gross > . . CONSOLIDATED 60,000 approve of vi existing ized of stock. common direct authorization - properties of The method which • the ; par),/in the. ration of 2Va- of , balance% to provide*-general working capital for .the; pom < Period . by or the shares shares alternative made , - of for pay 40,000 cash; wwvuvjjtiRojuu ' ■ ... • of 137,500 sequent mal'ket conditions, use, v j in shares first to up elect to stock, gives Cuban Atlantic the option of selling own account to others; up to 2,000 shares of new preferred and 137,500 shares of common to provide funds to make the cash for its proposal, approved and accept the provisions of a recommended , by received be be $508,500, which following purposes: to the issuance by preferred Continental Steel Corp.—To Split Common Shares— . .. , may viz.: per¬ by the board of directors, to Indiana General Corporation Act, approved March 16, 1929, as amended, and to restate the provisions of the present articles of incor::1? poration of the corporation by the adoption of the articles of accep* (1) Approximately $25,000 to* make the initial payment on purchase tance. Such restatement includes but is not limited i to: ••'V. Wi,--*-'v. ice of new mulcting. ; price ot new building. .,• ^ Elimination of all mention of preferred stock and all provisions (2) Approximately $150,000 to purchase new or additional machinery %.relating thereto, and all authorization thereof (all formerly issued and equipment necessary and uselul in-the operation of the company's 4, shareg of Dreferred stock havina been shares preferred having been'heretofore fnllv redeemed): fully redeemed); business uoimcoo. -. Autiiuiliauuu.ui Authorization.of i,uuu,uuu snares, fill common shares 1,000,000 shares, an snares ipar (par $14), of j, in i,(3)? Approximately $50,000 to:retire a loan to the company from - which 501,620 are to be issued forthwith in exchange for the presently Lafayette, National Bank at Lafayette, Ind.tUii outstanding 200,648 Common shares' (no , 899 $6,125,000 of which stock, common Hellcat characteristics have been greatly improved for airplane use, stated—V. 163, p. 308. •'< • -V '//':•<-/•■ .:>■ Reese 10c. they donated and returned to the, treasury of the company 124,500 shares, 120,000 shares of which will be used for sale together with the 120,000 shares of G'/o cumulative convertible preferred stock being registered hereunder. value par and Cuban Atlantic Sugar Co. — To Vote on Acquiring 'Cuban Property of Hershey Concern—"■;'v':':"/>/ The stockholders will vote on the. proposed acquisition by this company of the Hershey Cuban sugar properties at the annual meeting on March Under trustee 5. an for ; agreement the Hershey :. between Industrial It /;■ '. and School, ./'•«, •. /. Hershey Trust Co. , as dated -Jan.- lr 1946,* Cuban the accounts payable,/ $906,261; payrolls and withheld from employees, $338,920; contribution to employeesplan, $180,000; taxes, other than taxes on income. $155,546;. dividends payable on common stock, $47,699; accrued rent. $72 458; Federal taxes on income (est.), $1,604,499; land contract, for purchase of real estate having a cost of $75,000, payable in annuai installments of $5,500, $55,000;- reserves /for contingencies, $168,191; LIABILITIES—Trade amounts profit-sharing . i . THE COMMERCIAL & FINANCIAL CHRONICLE 900 adjustments, including decline class A prior preference stock (par$100)JU2;v" $2.50), $476,995; capital surplus, $499,317, surplus, $4,163,629; total, $8,983,817.—-V. 162, p. 3071. Deserves 300; for post-war $180,000; 6% stock prices, earned Culver & S. said: "Because known of * /'/v-VA'' /:■ Feb. 12 in a letter to the ,rA:'A'yA'; the in modification 'The as in in the of use 1946 telephqne forecast was Communications Commission in 11 in Period End. Dec. 31— instruments-by recording Feb. on Corporation'), Culver ■-A'' research scientific (hereafter to be and the pending excha"£® 01 i.1; debentures and new comm i name company the that Operating Operation Washington,* D. C. by instruments, brief the as reflecting the new Net Retire, C'i "■ .V-x.v';..!-:;-'V: 20,000 American businessmen than find now hearing •'-■' Net Provision Federal taxes income previous for paid ... 268 2,000 .. '; 1944 $6'qcZ 1,503 year.,.;./. \ —• _ '■ 1945 $7,417 after expenses and usual taxes for Federal income taxes..——-—- Dividends paid • /AA •' income Balance surplus surplus 1- ■■ , Res. against RR. right of way Surplus adjustments —<— • Surplus balance and acreage— . . at Dec. 31 as t $4,604 " — — bank, total, railroad $5,363; of equipment railroad and against fluctuations of $1,000), $51,809; of value $9,947), $500; furniture and fixtures, $6,000; provision $4,604; surplus, , vital The of 300,000 need at utaition cents per 50 and (Daniels, development the of Morris- Building; 1840 mining company's Philadelphia, Mark properties. will , i£ix Months Ended—< JNot sales / Dec. 31, '45 Dec. 25, '44 taxes of {Earnings --m/. : capital per 163, p. Dec. 29, '43 The : this 342,002 A —_ shares share 777. 514,134 514,134 $0.67 _ , $0.91 - __ For corporation that announces Sales its of in Album of retails at has $5. been the on market about for 777^-vA::;0^ two years.—V. ^" AA AAyA of the to only directors common "March •cents have stock, This 2. cn declared income of March cents 30 to 30 share per holders a Wears End. Oct. 31— (Income from sales (net! •Other "1945 $7,620,103 income Trot:I 49,897 .at $7,669,738 Clarice, wages, etc, 'Gust $7,855,734 A 3,595,433 2,296,188 profit >Divs. paid will __—$277,118 declared. 106,474 102,726 CONSOLIDATED BALANCE S. —fund of (at cost) excess and profits accrued and nute; M>lrst-in', -Sundry accounts the on basis first-out stocks IPravcJing and • lower or 31 market 100,222 State per fc A? A 57,985 --fy (net). 2,048,594 .* Accounts an 1 dividends Saiarie.':, wat es, "Accrued Federal,' State commissions, (less (ftc crv5 fcr ; :V. (no 266,705 v 59,170 .'r 162,119 1,277,709 1,277,679 • 1,013.222 1,428,975 in (Earnings of Gross earnings Operating ; of ex-ess ; Net iv Total- - earnings $5,400,803 reserves ,363,229 in in 1944. $151,011 for depreciation 1914. in U. S. (The third board eight meetings on 30 Tuesday of ■owe The of June of first Oct. 15, bv directors and in 1946.—V. $1,479,700 shares notes of Nov. will Feb. 161, date next p. be 12, 2785. 1, Gross $5,474,351 in in the fiscal 1945 held 1946. >2,.;,, 1 1945 $134,304 in to will June the 30, calendar second fiscal meeting ' 1944 of the is 6,008 $45,442,724 $45,487,723 $950,063 : '89,910 -■. shares -■ -/• 290,374 16,502,467 i ... ,.i $1,030,063 v . 16,502,467 22,774,090 22,774,090 5,090,728 5,126,193 ... week American Power Power & 1945, • Inc.—Weekly Output— ended Feb. Pwr. & Power Lt. & System the 1946, inputs of client Ebasco Services Inc., which are subsidiaries Light Co., Electric Power «fe Light Corp. and Light Co., as compared with the corresponding & were 2'2 7, of (in thousands of kilowatt-hours): follows as '• .. 2v'.2: 1946 173,501 " 2'-. •. —Increase— Amount 1945 169,472 Pet. 4.029 2.4 75,727 90,516 "14,789 "16.3 95,895 102,274 "6,379 "6.2 Corp,2.2/ Light Co.. j?: 2- . '. NOTE—The above /" v/v2222.:''2': '-;2'2 -'.2:' figures do not include ;/ v./.•//"'.2,/v' ■' the both periods.—V. not appearing in Electric Paso El System 163, p inputs of any 778. Co.—Earnings1945—Month—1944 $4,015,654 103,457 1,350.919 19,236 188.860 24,313 24,061 291,395 285,991 82,379 70,982 947,536 815,175 Maintenance Depreciation- $346,000 Federal 162,746 Other 13,243 $3,811,757 1,275,524 $332,882 17,357 revenues- Operation 31 1945—12 Mos.—1944 $343,190 120,045 Operating 1944 — income taxesjw- 181,647 2____i.-._. 29,964 31,460 392.861 368,653 revenues— taxes $69,129 $83,683 $844,081 $884,765 85 5,434 16,271 18,180 $89,118 $860,352 $902,945 42,630 •' 31.679 Net 18,100 Other $80,767 oper. income (net).... Balance $77,600 '-47,494 47,582 Interest Parent Two year 1946. held - Net -V. company income 162, • 2_;__—2—;, Balance be 1946. be 38.728 $69,214 ______ amortization 18,286 21,479 232,657 258,234 _;—■— a.L $50,928 $67,639 $627,695 $644,711 & the therefore to convertiole 2-'\."2 $1,270 | .2.2.2— ^ 1,432'" . . payable. companies National 23,744 _ deductions 338,607 61.965 . "Decrease. 190,708 income 274,948 ■ $25,014 11,540 -I43,528 :/ - ■ 32,801 Income raxes. State and Federal—34,542 Subsidiary 5,022.144 - Services Ebasco operating 98,762 income)._22222^-^?«'2;-$393,889* General Jaxes 1944 1945 5,022,144 I. $123,776 H Depreciation year to other Maintenance Gross new a anntial period The and :$156.926' • $45,442,724 845,487,732 National • (incl. $35,465 $40,082,235 $40,082,235 r ___: surplus Electric QUARTERS ENDED DEC. - and 1945 ■; adopted of accrued 19.566 SHEET, DEC. 31 2 Operating Subsidiaries of— Power & Light Co. 1945 revenue Operation 1945 in 1945 $.71,729 ; YEAR recently the The from on FISCAL has October. held IN changed months of 85,179 tax , INCOME ACCOUNT V / Period End. Oct. 31— ■" 92,032 , $1,406/760 "$^391,083 1,371,295 ; ; ; 1,234.157 ' BALANCE American $3,147 -2i' Y'. subsidiary companies accounts and For 3,033,048 23,589 deductions CONSOLIDATED Dr258,661 • stockholders was valuation Treasury 1944. CHANGE ••-emling and tRepre«ented tAfter s 174,231 $26,735 _ .Net. income- ;HO ^ 174,231 p: deductions...2: - 2941. $33,273 Tp 23,588 $9,684 $30,017 ' 23,743 $6,274 < ^ 39,619 "685,700% common shares and 789,668 convertible shares (including par value.—V. 163, p. 70. 1 ; ► • v •; *' f-. *' 148,923 107,569 504,981 $1,542,300 * . l,258,33l"f j Dr258,661 (Total "Aft-r -r,. ______— 1,845,056 49,212 91,611 - Total only) '■„> expenses " 72,784 • >; : scrip) 110 .. n:nderlying assets, ^eliminated in consolidation >»5J181 Company / $1,565,675 "..^.2—.' "Common Corp.—Earnings— Ended Dec. 31— Quarter 177,046 V/. 1,013,221.; subsidiary \ ; 973^000 120,623 in Eastern Minnesota JPower 145,709 I Light Co... taxes) .2. $11,4}9,065 $11,300,195 69. p. 2,742.366 72,784 1945 :Y:i;1944';' *'• $1,341,053 $1,329,296 224,622 • -213,004 ;>■ in week during 163, Yi ; companies......... investments'; 2^—' Earned 562,877 3,463,228 —.... / $46,994,932 $40,482,068 dividends. for • Notes 84,176 ... 2,742,366 ...U, LIABILITIES— >: 1,402,930 v , 228,000 2,195,980 75,067 ■» r I:, 18,093 companies par). investment Cash 698.030 1,402,930 ,4 38,734 14,468,650 ; -// 1,846.279 ;558,399 . . other urplus of 14,184 $400,000 /,;! 1,796,003 , 56,079 346.654 14,468,650 /_ Total 94,881 557,583 ><r shares). surplus -V. 894,000 urplus r filed Earned subsidiary ASSETS— 2,230,175 ;.V 950,023 surplus $400,000 188,777 .... fOapital stock 120,589 liabilities...........—f Dividend payable .2Common stock (280,586 . from Investments 600,000 accrued ! (including income Other 884,546 payable .41,768 ; 34,498 . ' )A 9,879,360 40,090 331,285 ■ / 56,500 24,045 • . - Dividends; receivable Prepaid Interest 140,287 • 50,771 and 2,626,550 $400,000 Other $5,474,351 238,420 (est.). adjustments postwar ! 2,000,000 accounts ,, „•••' 228,000 COMPARATIVE ' // 2,000,000 and 21,752 stock owned by E. U. A...-. capital $952,177 57,048 1951).. 59,372 1,104.700 ; 10,295,753 41,968 others..... -Balance 1,482,240 year 222,715 ''V.Y 56,562, ^ /• Balance tO sUrplUS contingencies—.600,000 acceptances 74,082 ...............— Capital/ surplus one I;: 246,814 . liabilities and 296.104 354.434 Electric Co Common dividends paid-.i^^.-i....... 2,209,501 Accrued wages and other compensation.—.... Provision for estimated Federal taxes——.- v sinking fund debentures due 1959.. •contingencies Oapitrl income on $0.85 •2 866,817 (due serially to May 31, public......^ Montaup /Interest 2,582,066 172,500 12,451 $1,294,200 by ,200,017 Total $11,419,065 $11,300,195 for owned Dividends from Pall River Electric 2,837,618 /2 175,932 plant and equip, (less depreciation) investments (at cost or less)____.__e_w payable within (none note : $230,349 ' 2,569,802 supplies.. iu.,' $46,482,068 $1,294,200 U. A.) 12 Months Ended Dec. 31— 30 172,500 63,046 13,200,000 to to deposits by Taxes $925,457 depreciation) payable Trade 96,850 46,998 taxes and long-term by E. accrued Dividends 1,440,627 process (none owned Total ^ , NOV. 14,504 788,542 601,234 payable Expenses 151,312 Reserve 2,134^365 (royalties JFederal (16-year 4% /t>( 827 26,274 675,705 39,956 COMPARATIVE INCOME STATEMENT (Holding Association Only> 375,000 $1.35 1,852 $400,000 payroll taxes : local taxes, and in work receivable on stock owned by E, U. A..... ..x owned by others surpl. before acq. of stock by E. U. A After acq. of stock by-E. 30,000 : $366,046 receivable fabrics 21,500 On stock '250,000 250,000 SHEET* 1,000,450 828 Earned • / 45,000 $1.53 2,170,000 1,072,706 Premium 1943 35,000 ; 403 2,780,000. .... payable Common our 30 1944 650,000 (910,000 •...'«••:••>>..• BALANCE r i NOV. [ 9,787 Treasury accrued Owned . $85,349 1,850 ^ and and for 1,621,046 share_.__.__ S. Operating reserves :/? Unamortized? premium on debt.......... Unadjusted -credits i_„.j the 1,115,180 taxes, (U. " -/;/■. Notes " 1,511 2,039,508 1°44 payable.......... 'V-;?/ deducting credit for postwar.refunds. materials, Total Reserve 'f* 17.057 664.787 53,467 i; Retirement reserve Contributions for extensions.......... $8,723,886 ; 13,192 11,456 supplies Miscellaneous as now for taxes v-1- 9,632,100 9,632; 100 .• $46,994,932 Interest the the $10,135,293 taxes.. dividends and :Taxes months 60% profits tox.j (renegot, Notes b'/f 'V tax seven such ENDED Total ; 1912 741 V; 1,850 * of LIABILITIES— ' Hlegulation V at Oct. 31, before v taxes.'Y*,. therein... less) or bonds for resale U.. A.) 'Taxes 68,556 1 ' Federal income E. law, Federal taxes present MONTHS .. cost) debits Consumers' about to profits the Prepaid taxes and insurance 40,300 "V*:.K 770^243 x-*:- 700,202 / (under' in income 6 (at cost 1944 $31,585,414 $31,497,832, Co. /(at Total 13,850 92,413 'J FOR conting... exc. common accounts Sundry 1944 cost employees'#andf:sundry bank the Elec, 66.2%//interest and Unadjusted , production about /?: 151,217 $1,453,615 . 1945 Montaup Prepayments in computing taxes for applying difierent rates, rate the be Machinery; /(Total —$5,400,803 to this disparity Under for will rate $430,180 Capital pay. income our tax excess 158,915 - ' in and Interest Materials 50,000" .Woven * receivable JLIABlLITf 2S— of The 213,004 $1,604,832 $1,509,214 . surplus ' 1944 $1,391,828 224,622 for dividends and ' $1,391,828 ■''•'/ 1945 $1,443,507 , ...... —...... ■ Raw ■% $544,084 Deferred charges ,Nutc". of income income above.. as receivable, incl. Installment accounts receivable—Montaup Electric Co Accounts consider income amounted Land 13,895 / ^Property, plant, and equipment.^,........ Cash - re- of bonds advances, ^accounts OCT. (net»_i__ the 38% conting. Buildings tax—A—A receivable of method) for /'•-■ ASSETS-^/ - int. o. prior year's excess profits tax ffundabls under carry-back provisions. fTrade ' - , $274,504 sPor.ion (Inventories /Accounts ■ taxes. used aVoid periods. COMPARATIVE $246,777 100,221 —.—.— IV securities iPo.-twar $212,078 -1945 — —_ such have to ' increase on taxes $1,443,507 •, U. A. deposits Temporary cash investments and tax savings notes) Notes' '".receivable;. Accounts We in A._ Special Accounts a two-day V-J holiday and factors were not present in which Federal ACCOUNT for Federal Trade "' - SHEET, ASSET 3— 1944. in decrease 577,789 A- U. S. tax notes and certificates of indebtedness, 192,177 175,812 with accrued interest 1,103,947/A 1,104,949 A/ Estimated refund of excess profits tax..—: v t We be Federal for "After 1,927,155 f; $288,570 or the /' !/./' 20,640 651,564 again ' an 77,652 ■ COMPARATIVE COMBINED BALANCE SHEET, DEC Our plans were we v months of 1945 $6,976,672 2,944,190 month a ' 77,652 22,421 , $1,668,129 Bonds contracts. war /?;u LIABILITIES— $10,219,206 Earnings .37,849 A $1,490,120 Associates— V Special funds—U. S, . etejj $6,938,823 $1,543,580 : 1 J interest______:;„„,Ti_ii;V.:. Co Utilities Preferred stock week, one before two E. Other investments of capital of the company $10,219,206, were Net' profit 3,076,191 A 1,104,287 f| 1,112,701 ^On consolidated basis. 'C®sh the A: 487,262 AA 391,938 .' ■•AjAfAAA/ 3,705,394 / 200,798 '194,859 , deducts.. & exp. fNet —j,—' view sales "Prov. 18,211 $171,969 8,632 minority ■ig representing suc¬ that on within six same proportion the effective the Provision /1942 '$8,777,049 2,333,917 137,500 'Other ««l is it to use fa;::''//v; starting June 1, 1946*./ Proyi.4for " and the Prov. !: 2269. 442.436 26,547 741,600 - './f// Investment notes, conversations 162, p. 3071. *, in of Profit bef. Fed. taxes & and 50 p. 32,37£ij 3,542,163 materials—.— (net) OGV.xes; (Bftpre.iation 1943 $7,805,837 ' $8,744,670 49,635 income—__U— o. "1944 ' ; on record of 434,323 955 35,909 (/Property, plant and equipment (at cost) high price which its ■' .v :/ Net with 75 cents paid on Dec. 17, last, total of $1.25 for last year.—V. 162, compares May 31, 1945, payable $1, par distribution a (Dodge Manufacturing Corp.—Annual Report— s relatively one • months for & to ASSETS— record reduce months the year year; six fiscal , 37,233 > •*. V approving thV creation redeemable preference stock, par , to fiscal first six orders, fiscal INCOME fThe for: war that so income on 163, A ■iDetroit International Bridge Co.—30-Cent Distribution , to Vote cumulative the income our 1945, - A/'/AA'/A/AfA - for vacation a last our entire Oklahoma, ipopular Broadway musical, have reached the half-million mark, an all-: tiimc high for sales of recording albums. The Oklahoma Album, which $1,950,766 $2,692,366 deductions: G. Balance available Co., Ltd.—New Preferred will proposal to the unissued achievement an of of applies IDecca Records, Inc.—Has Record Sales— 'The $1 22 reconversion preceding year. $0.84 • 741,600 $2,004,449 Expenses, taxes and Interest . Feb. a those over cancellation 514,134 ' sales quite result a 432,476 A 468,816 prompt net $83,913 75% 'Cost the the as confined entirely on civilian production. $10,767,388 $12,296,085 $10,265,447 ; (income Number Chemical V permitted 'i 5Nei income after charges & Federal 1 such Geier, President, states in part: Shortly after V-J Day we finished all our (& Subs.)—Earnings— 57,425 $2,746,049 Total Duplan Corp.—Semi-Annual Report— and 371 Bay Street, Pa., of on ', ; with that out marketing, instant / means on V. Non-subsidiary . , Ernest C. IDavison Chemical Corp. 'U. pointed and 778. p. mamed underwriter. the /, . amortiz. Applicable to E. U. of 24,650 shares of 5»/a?<- cumulative par $100, the remaining 50,350 shares having been redemption on April 1, next, . Dividends on the new $i become cumulative from ApriL 1, ,1946. See also V. 163 for stock capital stock, par $1/ The shares are to be of. share. Proceeds will be used to carry on expto- 300,000 shares of #ored 301,486 . $210,158 $142,668 Eastern that and connection instruments of < cancelling all preference stock, registration statement with the SEC a shares each, and called 'The company on Feb. 8 filed fl». in portions of business transaction.—V. by ^Dallas Yellow Knife Gold Mines, Ltd.—Registers With - in stockholders $23.50 317,411. $187,209 reasons further recording manufacturing (1945), taxes a/c, $16,000; due against securities $1,565; capital stock: (par $10)y $40,000; $63,673.—V. 159, p. 1350. issued," • basic Dominion Tar & $1,503;. purchased—"when y/ Stock Approved— Federal for collateral loan total, •is telephonic communication subscribers, usable The corporation businessmen and 6,838,898 $267,583 Earnings of sub. appiic. to E. $63,673. LIABILITIES—Accrued for business patents telephone cessfully i right of way and gypsum acreage, State of Ohio (after reserve book their to had conversations. The SHEET,; DEC. 31, 1945 BALANCE in ASSETS—Cash securities at cost (after reserve against usefulness of ". brief of use and div, B. r ' railroad panies $2,390,880 deductions Applicable the telephone com¬ recording telephone for telephone company objections to recording instruments were rooted in the telephone company's de¬ sire to create a complete and absolute monopoly of the business of $1,601 A< manufacturing, selling, renting and licensing listening-in and re¬ cording instruments, the brief went on to state. • 1 / ' _ $2,428,638 26,245 •/ $249,009 •' 01,800 /Balance Pfd. free urging characterized telephone companies' conten¬ recording instruments as insincere, and pointed listening-in devices are now offered for sale by telephone the companies $3,480 1,374 Dr3,100 Drl54 $3,646 1,601 Dr643 , of areas corporation's to that out Previous the The tions $241,338 23,074 income Interest of creases A 1,417 1,757,686 ■ accruals reserve Gross Miscel, recording instruments as a regular part of business. The Navy Department statement to the FCC described the recording device as"one of the most valuable, modern administrative aids in the con¬ duct of affairs of the Navy Department, The instrument greatly in¬ YEARS* ACCOUNT FOR CALENDAR SURPLUS AND 550,245 1,838,973 6,903,438 59,677 ' , EARNINGS revenues-^-, income (net) Balance authorized capitalization. use 672,547 131,107 $225,935 oper, Non-oper, 605,917 75,104 taxes) raised efficiency, sped contracts, and cut administrative red accuracy, More inc. (inch $1,038,039 $11,P43,596 $11,537,709 699,326 78,992 , » showed tape.;;;v-:;y^',::;'/y;:: name, (# Subs.)—-Earnings— $1,079,356 / ' Taxes • recording instru¬ exchange of. securities and new y ments invaluable according to the corporation. Among users, it was ;//"/ ;; A-;" "v.- /:• AA-.,' brought out at the hearing, are Bausch and Lomb, Eastman Kodak, "Amendments to the Articles of Incorporation have been forwarded the Texas Co., New York Central RR., United Air Lines, tlje Ford to the Secretary of State of Ohio and details looking toward.^the Motor. Co.,..and many others. ' exchange of securities are now rapidly nearing completion. Nouce The company's brief cited a memorandum carrying a strong plea this regard will be forwarded to stockholders at an early date. •• \.*rV<'.'. from the Navy Department which initiated the statement "i 1945—Month—1944 V '/ 1945—12 Mos.—1944 • revenues Maintenance telephone recording instruments had skyrocketed dur¬ business and the Army and Navy found it increased of war the ing present capital stock into the new shares, the usual printed annual report will be,de}^ye.^ "nt At that time there will be mailed to all stockholders a use these, business on ? Subsidiaries— brief filed be¬ a this corporation. The brief- was presented by Charles H. Tuttle of Breed, Abbott and Morgan, in connection with the recent hearing on recording instruments used with telephone service. \\ ; Pointing out that this corporation had sold its equipment only to commercial and industrial concerns for business uses and urging the commission to allow American industry to reap the fruits of 25 years of < Iverson, Chairman of the board, on stockholders increase the Federal fore and ^ To Change Name ~ 400'/« A American business . Recapitalize— C. Clinton RR Port Eastern Utilities Associates Dictaphone Corp.—1Telephone Recording to Increase— , , < (par common Monday, February 18, 1946 Balance Preferred Balance -V. 162, dividend for p. 2641. ;.—;——_ requirements common stock . and .. surplus. 67,501 67,501 $560,194 $577,209 J.-A i.I Volume Sales ■ — 778.' p. Horn Coal Corp. Sought— :.A;V;4:'r. •£. Termination of Receivership; — /V/A;,-' ' form this of requirements SEC of report became necessary Release No. Accounting 53 (1) are value, whichever has of shown formerly non-ledger liquidation. include Endicott Johnson Corp, (& Subs.) —Earnings— A?A Years 12 Months Ending Oct. 31—•• ' * : 1945 „ • 't ' 1944 • 11 —..——-$107,0.>J,259 $35,566,202 $9«jv770,269.-., ^.'Revenue from.-subsidiary; companies; EndedNovA3C£~A;:T- sales Net sold——-A— Coijt of goods • - $8,472,016 operating profit——Li---—— from Deductions Normal Excess and taxes Crl9,857 *782,926 1,23b,000 surtaxes- Dividends—common ; /;v: ■ w Prcf e r red - ■ Miscellaneous charged from reserves loss and profit to prior years 1 * - in 'ly' - —, 289,5,20 ' .* - investments,— BALANCE CONSOLIDATED ASSETS—Cash on i — series- C NOV. SHEET, A i 30, for 'Includes slock common and paid surplus. the revenues :: - '■■•w—AlLLL.'~LL—LL:LLL—LwLL*Li^L-»-L*iA/A' 2,064,353 ; Maintenance j—.A.L——.-.—-—//.A 347,648 Depreciation /.iL.———.; .—-Li--—; ——-A A 390,172 . Amortization of. plant acquisition adjustments.. 73,914 \ / Other taxes- ; taxes Income ♦Federal — *—— -— y ———- Boat Co. sportsmen's board sporting goods is constructed motor, with structural industries. on which Other income 163, Interest the ratio March stock of common additional 60,117 $2,674,833 244,395 $2,237,152 225,225 amortization—; ■Special charges ———>,L/A Preferred dividend requirem'ts of sub. cos._—.. of share one 4.—V. .'The* for income U. the of S. be used $1) seven $12 'shares held. • $1.52 from Dec. a-share share per Rights Co.-—Renegotiation-—> the on outstanding 7-A.; £> . 491,543 expire and Earnings— 7 " • ' ' ■ s f- UNDERWRITING— Premiums AV : written ' \ i Premiums - ^^ ; ►. j 1 revenues Operation — — — —. . 1943 ■ . . "" , MWJ. ., Dec. $655,776 —■ $229,027 Total Prof, Gross inc., /-:' outs Other: —L taxes adjustments acquisition 5,226,238 - - .4,178,726 4,059,815 129,985 405,316 $4,130,720 $4,048,740 $3,653,499 income net $4,786,496 operating 12,032 ——. Total — - Cash requirem'ts of sub. to minority interests Applicable income' cos.--— L; 2,074,350 17^940 for Adjustment minority 794,385 declared /JiEarnS. before giving effect to tax reductipns ; $6,289,407 Dividends on preferred stock of parent ,co. .. Applicable to common stock of pa rent co.;"-- V $4,170,315 share, based on 1,909,968 shares—.-" $2.18 surplus, DecA 31 —$84,171,500 $75,381,283 $64,419,047 extraordinary 'After reductions -of $630,160 Cash in 1944. 't.After in $235,032 / rata pro transportation of -:/■' ' , amount property, ^ . of in tax /. etc. Prov. for Fed. and income Net Losses and book $2,321,814 pro in . in for rIncluding (194Irgr$1,742,647) representing $470,064 resulting book 'Resulting stocks 769,676 1945 and $9,553,431 pro i and expenses dividends Z^ 9*669[d34 /.—l[3i4 700 l,80o!o00 — Uu ' 15,000,000 82,063,910 * ——— taxes loss (1944—$2,350,325) from in sale of the. $470,064 pro rata transportation amount property, in of the • ' : tax excess 1944. amortization of emergency facilities and excluding (1944—$2,350,325) tax reduction resulting from sale of from are $470,064 not offset bv special (1944:—$2,350,325) 42,523 — 65,078 57,486 ; A* 71,109 * / 80,114 - 123,305 common...^ Earns, sh, per on *$174,356 4,539 preferred— divs. $105,871 TsZooa TsZooo 75,000 5" 11,000 loo.ooo $0.78 divs, $113,537 $0.91 $0,84 $98,262 ' — cl. A £ and B stocks $1.55 . of $30,551, which consists of adjustment of reserve for industrial, liens in accordance with, agree* ment with Bureau of. Internal Revenue for Federal tax purposes. adding; extraordinary income ' A BALANCE SHEET AT DECi 31, 1945 U. S. Certificates of Indebtedness, ; % ASSETS—Cash, $1,082,863; plus accrued interest), $150,102; marketable securities, at cost (market value $397,400), $314,848; notes and accounts re¬ ceivable (after deducting margin due customers only when receivables are collected, $862,106 and reserves $202,257), $2,706,874; investments and other assets, $615,131; deferred charges, $6,526; total, $4,876,344. at 1946, cost jtilABILITIES—Registered. short term notes (maturing within/ nine $2,459,500; accounts payable, sundry, $147,905; due to offi¬ directors and stockholders, $176,716; federal and state taxes on income of current year (estimated), $42,523; other federal and state taxes, $3,146; deferred income, $51,773; class "A" common stock, (par $5), $375,000; class "B" common stock, (par $5), $'250,000; paid-in surplus, $513,005; earned surplus, $856,777; total, $4,876,344,-rV. . cers, 162, 456. p. ' < / *Vv' «./''■*' 'V<A " ~ Florida Public •,-% i •" -'**'*'• ^ ■'[ ?/i, ' AC/'" ' y 1 t ( Utilities Co.—Initial Dividend— Feb.' 8, declared the initial regular quarterly dlvi-, per share on the 4%% cumulative preferred stock quarterly period commencing Jan. 1, 1946, payable April 1, 1946 to holders of record March 20, 1946. The Continental Bank &" Trust; Co. of New York- has been ap¬ directors on The of dend $1 183,4 the covering" and — 132,662,086 — the* 4%% cumulative preferred stock.—V. pointed transfer agent for 163, P. 179, • ■ . A , If actual been Dec. used policyholders' the 31, 1945 total surplus market admitted quotations of would be $134,- $99,171,500. tSecurities carried at ' ' . .Net rev. fr. ty. opers. bonds assets A , ' Fonda* Johnstown & Gloversville RR*—Earnings—? 1945—Month—1944 1945—12 Mos.—1944 Period End. Dec. 31—• $77,367 A $78,697 >'( $926,776 $906,764 Total ry. oper. revs.—A; 64 321 Am 82,843 640,606 610,920 Ry. oper. expenses basis approved by National Association of Insurance on had $1,641,471 in by of* amount rata transportation property in excess of book loss in 1944. tho 22,813,542 of, adjustment — law!—V. tax_j__ 10,000 tax, accruals. 3,608 income Other ry.; • y . $286,170 *$4,146 ; $13,045 Federal the above 162, statement 1512. p. are deposited for purposes A *. required Ry. A: AAA (Wm.) Filene's Sons Co.—Obituary— William Charges referred to include, above, In addition amounts to which Harrison McLeod, Vice President and at the Newton-Wellesley Hospital, Newton, Mass. of 57.—V. 163. p. 464. /A A //.••a-" . >-•.. First Bank The 17th .* / 'yi , stock of oper." rents Net Sales on Feb. Manager 7 at the died > $295,844 76,000 6,336 60,000 42,761 A:' 60,000 .. 46,628 . oper. ry. Total Misc. "• A/.t Total deductions ' 42,478 $192,609 $218,978 J 1,438 ' 4,405 "8,641 27,227 28,563 A; A 19,182 A- 32,281 $146,199 $158,134 • < ... Stock Corp.—Annual Report— annual the combined outstanding report board net at of of the this directors, operating corporation and earnings year-end. This A. of H. its Inc. by Kennedy, compares with $1.74 per ait. Contingent funded 73 fxd. chgs.. interest , income *$81,081 - Ay 2,259 AA (way. and equip.)__ 'Deficit.—V. 163, p. 309. Net A*$1,686 on debt ——.— 2,259 27,117 27,117 $119,082 $131,018 V' 38,372 36,257 *$3,945 : *$83,342 3,517 A 3,031 Depreciation struct, " and . $176,500 48,177 1.78Q — f A 12,716 . 3,600 • $1,532 charges—. $189,216" 22,977 $144,432 1,153 A *$68,035 \ yA; 4,182 ^ ■ *$71,635 *$2,650 income income fixed % 2,037 Other inqome $167,409 *$70,482 *$563 income—. — age C. T. Jaffray, President, affiliated banks for 1945 amounting to $5,907,589, an increase of $675,555 over 1944. The portion applicable to the corporation, together with the results of onprations of the corooration and other active affiliates was $5,613,187, equivalent to $1.98 per share on the 2,831,188 shares of Chairman discloses .'♦Which AAAA- >/ . taxes Total" and loss prior years is $470,064 (1944—$2,350,325) less than reduction in Federal taxes resulting from such-sale, related 369[o87 process Commissioners. of premiums and expenses on redemption of bonds equivalent to'resulting reduction in Federal taxes on income,-- reduction, of 5,202,994 $1.841) $569,786 (1944—$2,848,929) representing pro rata amount of loss on sale of transportation property which because of write¬ rata 272,607 $377,775 $242,058 45,603 32,357 . Cash 167,863 132,662,086 Capital Net surplus (2) downs .153',836 — premiums Reserve; for portions are A 192,855 • $216,626 State. profit Net those A $173,141 , extraordinary reduction of $8,205,148 in which .A 167,431 -143,051 etc.,__ income oper. overduel-.L^-^*.^^,.—2,265,074 assets. Unearned 1944./-. ?(1) $ deposit, and in office on Reserve 2,198,720 book 1943 $650,382 > • Cr7,558£ • related 1945 _——.--*,*.__^-.Ai.„__^l;A_-_„^____ti24,503,231 LIABILITIES— reduction, Iv resulting of 31, * Total lh 'iS45 and $951,780 excess '• ■ Af '*Valuations sale from DEC. 1945 Stocks and other All in. 1944. tin eluding SHEET - $3,522,758 Per 3,299,992 Agents balances (not 90 days Interest accrued $5,721,479 2,119,092. YZIaZ" 3,299,992 Real. estate: 2,611,530 V 525,783 —3,299,993 tax . 8,325,450 '08,575 interests-——— 11,127,250 • 15*784 ♦'Extraordinary reductions in Fed, taxes on inc. 10,164,632 ASSETS— $11,594,380 $10,675,775 excl. pro rata amount of tax reduc. .11,124,316 4,843,484 Net income, $434,913 months), 4,591,576 2,206,080 —— —— — 1943 $384,057 $316,192 Interest, . —$99,515,878 $79,207,059 $67,718,302 surplus to capital 11,250,000 / dividends Net 4,189,141 2,891,600 dividend Preferred IINet 3,991,578 f charges ^Special -Earnings- 1944 ./A1945;v/ .1:; charge- less expenses, Net AD/738 .437*700 > . $20,569,850 $21,678,357 and !amortizatlon_----wL—u-a-lL- Interest ' — - 299,350 17,929,510 income ♦Bonds Balance 625,617 (net) 183,569 , 50,370,859 Dr47,000 sales of stks. & bonds (net) on Federal $20,557,818 $21,494,787 revenues——; (net)— income $5,783,231 64,418,309 Cr792,972 BALANCE Net Other $4,277,767 75,381,283 surplus reserves Transfer, of 5,410,823 . Co. of America at Baltimore •— . Oper. $2,129,732 139,073 bonds 4,674,379 plant values 31, Cash 4,269,793 Increase in market value of stks. & ^Federal income taxes-—-—————4,796,009 of book book ~ $20,761,980 $22,139,404 13,411,300 > 12,140,064 10,479,407 8,843,883 7 78,392,889 9,260,265 - Net Investment income 257,590 5,435,462 /A634.850 Amortization $38,551,072 $39,150,651 underlying adjusted at 2,404,647 268,305 . " $22,910,959 1— — Expenses 1,774 4,976,566 886,977 _. stated are 7,*»u6,240 ... , INVESTMENT— :A-A.,. Interest, dividends and rents- 4,649,507 Depreciation and AA' Years End. Dec. 31— 7 $66,525,648 $68,954,692 25,680,398 26,654,880 _ $28,311,880 $23,311,880 (par $10) 7,684,557 A ' —A— 2,867,209 reserves for; taxW-ALAA-'.: A .287,005 affiliates of Finance 31 1944 $39,150,651 $33,551,072 — ' 4,401,639 —.L..L—— Maintenance 74 1933, which are $22,041,676 less than the present values.-tStocks of State banks in Minnesota with par value of $2,149,167 carry double liability in accordance with statutory requirements. $Surplus is restricted," with respect to payment of dividends, in-the amount-of $688,120, representing the par value of capital stocky purchased and held in treasury,—V. 162; p. 1281. . ,< f t v DEC. 1945 iii. earned Expenses CONSOLIDATED INCOME STATEMENT, 12 MOS. ENDED OCT. 31 Operating — Z — expenses underlying of capital reported.—V. '* - 90 8,806 35,454,206 172,402 -A;/""■•' collected— —— of as, $25,448,911 $23,087,763 $21,819,638 ■ 2,537,952 .2,325,784 1,319,765 ;'"*•/ - , - ' YEARS ENDING Increase in unearned premium res, A Previous , 12,732 35,644,177 161,452 assets— receivable accounts 'Stocks . - 1 ACCOUNT,' INCOME 7 Special; facilities.—————432.831 emergency. / other but not „— Accrued -A;:v;;.//• :>;vA^77^vr--*-7':*;/A»/A ,7,7v.///;-;A;/ Fidelity-Phenlx.) Fire Insurance Co. of ^New York- ' Extraordinary reductions in Federal taxes on income through Allowance -for amortization of 2,071,076 1*1,355 6,147 ——, —— and fixtures. recapitalization) shares originally as / 1944 $696,990 JPaid-in surplus _! LA—;—" i'Earned surplus (since Dec. 31, 1933, date of in ... , A A 1945 $584,498 — ftZ LIABILITIES— *;€:/A/;vAA,AA^ final or-$1.58-a-share;- ' 1,983,084 - A 31 ,.'Z. Am — obligations and earned Total 31,71944 $776,829*- 2817. p. DEC. AT \$2,068,876 2,607,684 securities—L—/.r—134,139 —1; ,—AAv - 5,895 Government Notes given the right to at AS 'tStocks of affiliates Corp.—Rights to Sub- (par SHEET -A', Real estate and out¬ an ^ are 2,123,391 , with "''"v 11 $2,483,646 w —— banks—— tOther bonds all $2,430,438 $2,011,927 "A;/ AA,-.-. ■ ;-:r' 53,208 56,049 lL± — — paid Office furniture athletic manufacture in Interest -FeW stock each reports' that" ended to stock, $762,054 t$1,147,546 - — taxes— less charge-offs, and net profit on securities.———A-A—„__1—A—A-' of 'Before Net income for earnings— ASSETS— 163, pp. 779 and 463. conipfthy'" year equal 512,156 73,914 • sales Cash 198,697 170,237;/: . 7777.7*V7-/A 197,329'..-459v158 , ... provision and expenses operating BALANCE renegotiations of- war) contracts for resulted in a" decrease in net sales to $33,793,736 from $33,903,736-and a decline-in-net -profit to $746,029, the $2,193,992 386,815 Applicable to minority interests—1,149 —— — Total 269,145 517,500 $1,423,222/ 292,451 - - — earnings Recoveries A principle combining light weight record common Federal Motor vTruck , > — and 1944 55,698 A* Capital stock outstanding Holders of Only) (Corporation $2,177,035 Net scribe-subscribe for YEARS CALENDAR 1945 of Y p. 651. I' V-'V u Underwriting profit Balance The also can new a strength.—V. "l ' * / , $2,6iy,i35 Operating granted were jurisdiction. Losses operating Net distributor rights Washington for Farnsworth Television & Radio revenues----—i $1,438,695/ $2,212,239 (net) ——-- * * nrl5,473, J9rl8,246 1 national Export in - stockholders. 14,247 FOR from received Feb. 11 announced appoint- exclusive as boats. administrator WPB as came under his 12-foot rowboat, Duramold's 162, 317,917 366,522. —— Jamestown Duramold pleasure craft - 7' . . the ...... ' Dividends during the war equipment and 1944 $6,620,865 2,562,163 473,745, Operation of new charge- $0.76 same company. .,.7-7. 7;-/;/V'7-:,/ 7;r;-7;/.// Dan W. Lando, President, of Jamestown: Boat Co^, served 3 Vz years: 77 - 1945 $4,999,224 $1,442,262 $1.65 , to the , (& Subs.)—Earns. ' ' $3,146,780 on $2,uod,» and U. S. Government obligations carried $144,558,059 to $776,407,118. Loans and year ACCOUNT Engine & Airplane Corp.-^-New Distributor— Duramold Division Cities, on 2,198,720 tlncludes final common, dividend of $458 554 Electric Power Co. incident to the sale in April corpioration's ment - $608,192, Month of October— the **' Net The the Twin outside exclusive of. recoveries sales of securities. were losses 2816. p. Fairchild branches Saint Interest earned and other earnings——z— company, Savannah 1945.—rV. 162, 1945 ''.H by and four other Minneapolis National Bank of Saint Paul, Paul banks, $1,605,327; First other affiliates——^..—. extraordinaryi nonrecurring dividend of $900,000 ptJid by subsidiary a A/'*- Engineers Public Service Co., Inc. Operating 2.119,092 the four and and corporation has ■ $3,640,983 -w Balance $200,000), 465. 162, p. .$5,265,872 banks profits INCOME 267 Earnings per share of common stock— (including payables for mer¬ accrued wages- of $1,619,339 and accrued expenses, including accrued taxes other than Federal income ; taxes), $4,594,322; sundry creditors, $561,281; notes held by workers'; under savings plan, -$431,903; accrued Federal income and excess 7 proiits'' taxes, $6,064,400; reserves for reduction of normal inven¬ tories to fixed-prices, $3,349,911; reserve for replacement of normal inventories, $246,353; -reserve for future inventory decline?''and war contingencies, $2,338,474; reserve for workmen's compensation and public liability contingencies both covered, in part by insurance and for contingent liability in, respect of. mutual and reciprocal insurance companies, $250,000; miscellaneous-reserves (including $306,997 Afor£ possible additional assessment of Federal income taxes- of. prior years), $480,159; 4'ipreferred stock- tpar $100);. $7,238,000; common Stock »par $50), $20,268,600;. earned surplus, $11,591,474;,total; $57,414,277./ —V. The Gross accounts payable of transit in of and $57,233,914., 17.803 40.689 of excess . 237,675 33,334 . market or by bank affiliates increased discounts, increased $17,604,760 to $155,474,421. Deposits increased $200,596,023 to $1,168,90-7,098 at the year-end. .Capital, surplus and undivided profits of the bank affiliates increased $3,816,417 to a total of 20,853 310,406- . Preferred $15,547,391; U. S, $1,600,000; trade accounts cost), (at of reserves LIABILITIES—Trade chandise 30,031 cost in estimated values affiliates in process of The loregoing does not market value of bonds over $3,200,000 Minneapolis of reported Earnings and During 89,373 taxes- • ^ Co. Trust Dividends $7,369,478; .. sundry'- debtors (including $2o8,537 due from U. S. Government on contract termina¬ tion claims), $487,670; post-war refund of excess profits tax at face value, $285,950; inventories, $21,337,890; prepaid taxes and insurance, etc., $300,330: other assets, $1,006,443; land, buildings, machinery, etd. (after depreciation of $13,651,872), $3,479,124;> goodwill, $1; total, $57,414.277 ' ' A-yAAy.. ■: 'VA. "A (after A taxes.— -Interest demand deposit and on hand, tax notes t534,154 . ,— -—— — Treasury 25,440 $3,641,250 £1,216,080 1,21b,080 Earn, per common share— • $4.87 AyAA'! S3.34 £ .- $4.80 *Net after deducting miscellaneous income of $144,353 and includes $903,014, representing non-recurring additional N. Y. State franchise taxes. tAfter deducting excess profits tax credits for debt retirement and post-war refunds oi $378,500 in 1944 and $410,000 in 1943. tAfter deducting refunds of $88,000 of prior years' taxes of subsidiary com-\ pany arising from loss carry-back provisions; *' SAfter withdrawal from ./ reserve for possible additional assessments of Federal income taxes ot prior years no longer required in the amount of $250,000. r : receivable 77 25,440 •■ _._L..L_L—— AA"1,216,080 ; dividends Common offs , $2,310,148 '365,300 $2,271,114 90,475 217,140 $2,266,873 Surplus 8'>/ preferred dividends——1— * 4'/i preferred dividends——,—— 868. 46,950 amortized below (3) assets of $15,536,000. aggregate substantial $2,233^394; earned , -——607,666 -- revenue income Federal Other , , * » and 49,99.9 of and Bank 64 affiliated $3,697,448 $3,930,064 $2,310,148 $1,663,44a $2,266,873 transferred Amounts ■ miscellaneous from These First 11,000 and lower; is National affiliates 7, 23,000 _^.A; :-■ ^ — 13,347,200 £ 13,700,000 * • 1,000,000 j 175,000 profit "$5,279,774 — w— — — Revenue 1944 the amount the books cost. the —v-i--—— . _ Note _ Expenses ■:£ Net ■ 1945 First ' Interest—bonds A 7' Crll5,036< 1,400,000 fl,252,800 -t 4,812,000 profits taxes—L for contingencies——— Provision ■' 7/ $8,295,113 $7;046,374 fnetii.----.. 1; income > 79,080,232 .,78,179,914 9,45y,656 9,304,242 to,718,267 9,902,956 — Selling, gen. and admin, exps. (net) Net COMPARATIVE INCOME STATEMENT (Parent Company Only) ;A, , „ for. contingencies; (2) approximately by which bonds and certain other reserves on assets present a amortized t a in reserves, carried assets the including earnings taxes corporation's $2,836,000 in During amounting to $2,123,391, the of $9,500,000 benefit of the extraordinary reductions been discontinued to, avoid misleading interpretation of the figures.-'* The previous year's figures are restated on a basis comparable to the 1945 figurcsv 7 ,£ 7..;-. ; A-.-.AA. share in 3071 p. the Nov. in dividends Value 16, 1945 and to bring out more clearly the effect of very large reductions in Federal taxes on account of accelerated amortiza¬ tion of war facilities and other tax reductions. The report of per AV;V;y has beet) filed in Kanawha County, (W,. Va.): Circuit Court by a stockholders' committee seeking termination of a receiver->; ship for the corporation. Counsel lor the committee contended that the company, plactu in receive*..hip in August, ib-to,- iiuW *6. operate* at a 162. with conform to of •A'AA' petition pr.nil.—/. in'the NOTE—Amendment earned holders tax ... A Elk for 1944. 1945 corporation paid to stock¬ or 75 cents per share. capital stock, computed on the basis of the underlying book values of •affiliates on Dec. 31, 1945, is reported at $60,905,322. In addition thereto there are certain reserves and assets held in large part oy tne corporation's bank affiliates. The corporation's proportionate interest in them is represented by: share from deductions, in excess of depreciation at usual rates, allow¬ purposes as amortization of emergency facilities but not recognized in the accounts since such facilities are expected to be em¬ ployed throughout their normal life' and not to replace existing facilities. *■,-•; '//'A':-."' ' 7 7: '* able AAA*. 1946 -'' A'/ 1945 —_ $3,726,188:* $3,052,078 ■;. <. —— —- 163, ' •. result Sales— Stores, Inc.—January Edison Bros. Month of January— —V. 901 4465 Number 163 1 Inc., President, on Feb. 13 announced that at the annual meeting on April 30, stockholders will be asked to vote on a proposal to amend the certificate of Incorporation to increase the au¬ thorized common /stbck-v from 750,000 shares to 2,500,000 shares.—V. 163, p. 70. ' George Friedland, & - 2641. Feb. on , . 11 • ------ ----- and- Collin, Co. & , be opened Feb, on -accepted. -..aA ■/. The corporation, 1936, 1944 of were:''? '• to Georgia an PROFIT ■ Liabilities ://A'V • Income Expenses Net Net YEAR ENDED DEC. 31, 1 surplus: Capital of ry. of amounts paid over excess of 1945 1 surplus: Earned '• '/ "* expense—— 2,4C9 14,415 , in ^ ..A (unearned rentals lease and mortgage sinking fund bonds, due July 1, ($1 par ///. Total ■ net - income $994,635 .—.—...—v. . paid dividends of Amount $73,442 921,193 income — . and 908,293 ; —— — There of undistributed % in excess - . 1945 A. J-.— —$86^342 Undistributed net income (exclusive of profits and losses from sales of investments): '■ • ' - of income———J.—-,3/AyA ($1,298,002) less $908,293,, ——,.——A-i-//, declared dividends Cash above charged Balance, Earned 265.852 were 389,709 . beginning the at the basis of market quotations ——— and BALANCE SHEET DEC. 1945 31, quotations '' (Cost, , capital own Stock Net r; • income of • appreciation 192. investments, of . 19,800 15,400 $282,270 LIABILITIES ASSETS, ' AND NET f ASSETS, has elected been facture ing General Public Utilities on Ohio, 153,000 about with The a a plant operated by Eaton Manufacturing Co. at during the war.. Built by the government for manu¬ of aircraft engine parts, it consists of a one-story brick build¬ lease Cleveland, Gabriel Company spend $300,000 for new feet square floor of space. General Building Co., Los Angeles, Calif. Trust Agreement Expires—Pays Voting Dividend—Issues $2 Semi-Annual Statement— under which the in and held and Spring their St., voting trust agreement dated Jan. 1, 1936, stock the by 1, Jan. on forward should capital trust expired 433 that the is announced share a of Angeles, corporation trustees, the to Calif., deposited been terminated participating certificates Title in has automatically of Holders certificates Los this voting 1946. Insurance order to of net assets and debentures. Trust & the receive In ■ for December, tux'es which Corp. and tion Co., corporation issued underwritten were paid off directors declared recently 1, dividend a AND PROFIT $2 FOR YEAR A — — Federal the 1946. Income Taxes ENDED Net $70,615 54,768 7,151 1,775 1,475 surplus $6,517 bank in SHEET, DEC. 31, and leasehold $741; hand, on estate, LIABILITIES—Accounts 1, accrued, $16,124; assessment rentals, total, $15,000; 1946, $31,650; equipment, $2,412; payable, accrued for reserve bond trade, $753; $361; repairs, (after and capital 162, notes reserve for total, $523,188. $1,363; liabilities, 'A'//A V / accounts etc. dividend deben- 1946, 53,540 14,146 $654,588 $621,143 ♦Loss. tThe 657,579 612,455 1.770,478 138,527 deferred investment company and income tax for Federal : liability, street advance 671. has such as elected should the year 1945 ASSETS—Cash curities to be have in in (at 72,150 $775,965 70,387 A 58,794 65,891 11,995 A/ 11,951 $580,912 $627,736 589,742 A 657,790 ♦2,091,913 ♦461,869 taxed no respect liability for the of regulated a as material above DEC. 31, net $393,759; Investments in $1,000,000; investments in other U. S. Govt, se¬ securities "LIABILITIES—Interest due for accrued, dividends payable, etc., $24,909; against cash, $15,200; due for securities due for securities purchased when issued, $89,755; expenses, taxes, etc,, $27,217: 3%. debentures, due Dec/ securities loaned for 1/1960, $2,650,000; $6 preferred stock 750: common stock ($1 $17,441,789. par), (90,750 shares, $1,602,445; surplus, no par), $2,268,- $10,736,696; ■ total. . (Robert) Gair Co., Inc.—Rights to Subscribe for Stock of common stock subscribe for Holders common stock of one The berg, share for each offering is to be Thalmann & Co. of record ($1 three par) shares underwritten and Lazard Feb. at 11, $6.50 held. by shall have per group Freres & expire headed Dividend in Stock right to Co., Feb. 26. by Ladenand including per at the close of the year, the above stock for redemption, the share¬ 5,000 shaxes of a 2% preferred stock, : value par paid during 1945, Total cash paid out of current.' and redemption of stock during 1945- per share were working capital for dividends amounted to $330,555/ / Profits war on Board, provisions under of assessed indicated these years. for profit of those years it does quired for the year 1945. The $6 cuihlative series), of directors have or convertible payable on March a dividend preferred 1 to cash, stockholders at their option of stock holders may of $1.50 per (optional record share stock Feb, 15. on the dividend' In On Department has examined the returns of the corporation for ond seme additional taxes were proposed to be assessed. The accounts have been adjusted as of the close of Nov. 30, 1945, as « result of the examination and provision, has been made for the additional tax liability shown to be due. past the year and income five the the Treasury profits tax excess ending years Nov. 30, 1944, the purchase and installation of newgas ranges in the Kokomo plant has been, After exploring the possibility of selling theMacomb Division, the directors voted unanimously to retain this divi¬ sion of the business because of its satisfactory earning record over ther past ten years and its good prospects for the future. The following m.ethodi of financing new facilities was then approved by the board of directors. ;••••;..■/"■//■ ■ /.'/;•■. •/■ V •' The given of question financing production of for attention. careful with the Harris Trust and Savings both of Chicago, 111., to make a of proviamg new ana adauionai xauiiues lor the manuiacture 01 gas ia..ges in the Kokomo plant. Such additions to fixed assets are considered necessary to modernize the plant and increase its capacity. The cor¬ poration has a call on all or any part of these funds until Nov. 1, 1946, since the need will depend upon availability of new equipment and the The nnd have made been Northern Trust Co., $400,000 five-year term loan to the corporation for the purpose progress of reconversion. Substantial A, . changes in stock ownership resulted in • changing the di¬ minority stock interest entitled to and did elect rectorate, The Maytag Co. having purchased a in Maytag the The corporation. minority representation on the Co. was board of directors. plant was then authorized, by the newly the Kokomo Division... Fr-ed The -contract P. H. Maytag II, Durham and provides George M. Umbreft, A. G. Sherman Reconversion of constituted board. for and a sales agreement was purchase the entire output of manufactured under the trade name of Maytag lieu receive common stock at the No not appear that any refund will be re¬ , > ,' * necessary financing was arranged entered into with The Maytag Co. to Cash— declared Adjustment Act, as amended, and. refund of profit has been, the basis of the allowable- Renegotiation the of have been received. clearance or . for the years 1942/ 1943 and 1944 have been/ work the United States Maritime Commission Price examined by The share to the extent Rights a the a the Kokomo . completed or were of $100 per share. None cf this new stock has been, sold or issued. The only capital outetHndine at the prerent time is. 100,000 shares of common stock, on which dividends totaling $50,006 purchased, $26,817; reserves $7 or to calling Subsequently of pantr banks, Y termination of contracts war Arrangements 1945 cost), securities, $15,dividends and interest receivable, etc/ $42,368; receivable for sold, $114,870; receivable lor securities' sold when issued/ special deposits for dividends, etc., $18,284; total, $17,441,789. 801,761; 161, holders authorized a new issue of Federal 1942 '/ BALANCE SHEET, $70,748; or 7$, $5,052; lease deposits and stock ($10 par), $75,000; surplus, $407,122; p. corporation $55,035,838.—V. total{ preferred stock were paid during the year,share./. All of this class of stock, which, was redeemed and can¬ celled at the "call" price of $105 per share, for which $264,967 was paid in cash out of current working capital. A ■ facilities income . President, Feb. 4, 1ft the company's annual report, , $15,588 During \ A $723,852 72,289 t9,457 cum. pfd. stock div. Net prof, on sale of inv. payable, payable taxes payable, $523,188.—V. $761,117 70,422 (other than inc.) $7,221 1945 depreciation), $473,038; deferred expenas, $16,699; Feb. 15-year 1943 53,332 . % $6 $15,847 taxes. ASSETS—Cash 3% of publicly by Union Securities therewith, the corpora¬ $787,799 — „ 7,151 BALANCE receivable, stock, connection 1944 General expenses.——— income. Balance, that on ACCOUNT/YEARS ENDED DEC. 31 Interest $15,443 : income on 16, —;—61,727 ——_— Depreciation share $77,170 —!—— ———L, — accrued Dec. 31/45 June 30,'45 v.- Income per 1, $1.50; and Aug. 1, $2. STATEMENT LOSS of 1946, to holders of record Jan. Payments in 1945 were as follows: Feb. "Profit sold ; Regular dividends on 7% letters' 1945 capital stock, payable Feb, Expenses and $2,650,000 of bank loans due March 31, INCOME stock In re- Corp.—Annual Statement— American All or 5» c - $2,650,000 and other underwriters. certificates. The arrears share///// $645,333; $230,342; (after . $10,717,437; surplus, earned because of?the 1940 totaling of The dividends in from $2.34 to $6 a year, advances July remained outstanding Corp,—Weekly Output—- . advanced It 1945," the $1,000 per insurance, prior $10,113,729 in 1944 to $5,695,469 war production in the kok.mo. cancelled for the con¬ venience of the government during the summer and fall of 1945.. V-loans were paid oif, war inventories liquidated, and cancellation claims settled or audited. By Nov. 30 practically all of the prcb.ems,' connected with war work had been properly disposed of, including iuil amoitization of war facilities obtained under certificates of necessity. The balance sheet as of Nov. 30, 1945 is, therefore, unusually liquid and since then H has become, even more so, ' which corporation were equivalent to preferred stock asset coverage increased during the year from $151.45 to $214.70 a share, while the common slock asset value, after allowing for the preferred stock at $8,352 $105 /a y — of interest plant. Shareholdings Corp.—Annual Report— 31, life and uonsoilaated net sales, dropped from in . Dec. of income on receivable payable; (maturing July 1, 1946), $1,000,- notes stated In part; output, for the week ended Feb. 8, 1949 amounted to kwh., a decrease of 1.623,502 kwh., or 1.3%, from the corresponding week of 1945.—V. 163, p. 779. // * At Garfield taxes accounts $2,000,000), Globe 122,923,403 expects to take over the plant May 1 and to equipment and $100,000 for improvements ana 163, p. 651. alterations.—V. trade; 2660. electric The ^ $2,098,728; payable, Alden P. Chester, with the F. W. Sickles Co.; Chicopee, by his father, Frank Sickles, in 1921, Vice-President and director of that company, a securities, value surrender and notes accounts $9,961,117; p. , F. Sickles, associated since it was founded ' * market value) upon Investments at quoted General Instrument Corp.-^New V.-P. of UnitMass., for contingent of 1952, ASSETS-^Cash. in bank---demand deposit/$609,351; account! receiv¬ $23; accounts receivable for securities sold, not Roy reserve $2,469,336; serial notes payable (maturing $1,000,000" 1, 1947 to 1951, inclusive, and $4,000,000 on July 1, lMt%' to 2'/i$9,000,000; reserve for contingencies, $1,200,000; 4'/a% convertible preferred stock (par $50), $9,977,000; common stock (392,000 share's, no par), $4,460,000; capital surplus, of. DEC. 31, 1945 ■ to 1244 and $375,000 in 1943 postal/ Government Federal of refund annually 291,718 became a wholly-owned subsidiary of General Instrument of Elizabeth, N. J. Tne Sickles Company, like General Instru¬ ment, manufactures component radio parts,—V. 163, p. 779. is completing negotiations with the government for This company five-year $1.87 (credited years $5,774,882; accrued taxes, royalties, interest, and insurance, $476,066; Federal, State, and Dominion taxes on. income—estimated (after deducting U. 8. Treasury notes—tax series Corp. Gabriel Co.—-To Acquire Aircraft Parts Plant— $805,234 $2.02 (net), $5,953,352; inventories, $25,010,799; receivable and advances (after reserve of cash $295,640; LIABILITIES—Serial COO; Cr 1,661 $338,913 OF ' v (Based ■tunfi.ii.mi^ 11 in. ..W... 11 $925,404 $2.13 $11,543), $60,835; estimated Canadian postwar refund of profits tax, $51,000; other investments, $35,893; property, plant, and equipment (after reserves for depreciation, depletion, and amor¬ tization of $13,379,030), $15,064,263; prepaid insurance and expenses, $420,103; total, $55,035,338. ' ..'/V'; ■/'/ / $137,309; special distribution Of capital surplus. . /; . $1,998,199 - 448,986 743,979 excess recently p. prior accounts current for serve (exclusive of gains or losses from STATEMENT mioTniH). Hi,*. 10,617 A 742,899 - miscellaneous 55,577 /♦470,35a!" ♦Includes $15,864; surplus", $86,342; unrealized net $6,110,955; total, $19,306,709.—V. 163, 448,987 vm refund.- claim $351,586 /A A-—— / securities : $2,117,288 443,936 1,043,777 stock.— for in provided other able—miscellaneous, earned $2,347,644 — 88,000 ;/ 10,253 $854,881 $25,426), 1944 A . $491,428 - Dividends and miscellaneous taxes, $23,514; unredeemed scrip dividends, $2,725; capital stock (par $2), $1,148,564; surplus,- $11,918,745; capital 13,375,000 ♦1,050,000 1 preferred stock-/ ASSETS—-Cash/$5,169,543; on repurchased, 71,255,000 'i 140,000 —_ j' notes and accounts receivable year 72,715 Federal normal tax and surtax Federal tax accrual adj. of preceding year.* ? expenses unclaimed and on l.oio.noo 150,000 tax., ;cies>// tAfter deducting $167,800 in _ LIABILITIES—Payable accrued 8">0.nno • • ♦Charge equal to reduction in taxes due to deduction for certain. basis of spe¬ delivered, $104,551; dividends and interest receivable, $36,522; in vest*' cific certificates purchased, $11,818,114), $17,929,069; cash on deposit /;ments ^marketable; securities),/$1,1,920,85?;' total assets, $12,671,302. (under custodian agreement), $1,188,507; dividends and interest re¬ LIABILITIES—Accounts payable—management fee and other ex¬ ceivable, $45,619; receivable for securities sold, $79,059; receivable penses, $17,793; provision for accrued Federal and State taxes, on subscriptions to capital stock, $61,133; deferred charges, $597;. $27,141; total. $44,935; net assets (represented by 274,959 shares cash on deposit for scrip redemption and unclaimed dividends, $2,725; of stock, par $1 per share), $12,626,367.—V. 162, p. 2147. ; total, $19,306,709. / < , , J market at ASSETS—Investments, 254/295 950.090 " '>?■ claims 1 taxes__ 200,763 1,276,116 , Expenses investments at —-i-A- $18,116,042 carrying on the of 1945 , 268,786 ^469,284 taxes.' — conv. 259,790 $8,212,990 3,302,000 —4,A — on $7,953,200 361,398 fi 1,344,230 Surplus periods. , r>; \ $7,544,842 285,004 1,441,079 Earnings per share of common stk. INCOME.,STATEMENT, YEARS ENDED DEC. 31 / % outstanding —-— $86,342 12,005.087 6,110,955 ' , A . -----;A 1945 State tax -.v/: 7 , $7,183,444 297,677 : " —1/— profits on common income for short except 1945, / Total income 389,709 —w— Capital surplus and earned surplus, Dec. 31, 1945— net appreciation of investments at Deo. 31, 1944 surplus, shares in $7,144,611 < CONSOLIDATED TAIANCE SHEET, OCT. 31, 1945 1944. 31, discontinued 274,959 at the year-end. sales 31, 1945 surplus, Dec. 31, Dec. Unrealized Total at Dec. were ' '1943 ,. . 1 $8,773,404 and depletion-A income and Net profit 1951, $836,017; capital stock 31, income per statement Net ' ■ , Dec. Balance, $9,632,424 shares ■' - • with ' ; — ... Dividends value), $989; deficit, $68,474; total/$831,253,—V, 162, p. 671. Sales of % $8,454,553 ———— excess net % pared / charge Minority int. In prol/bL subaid. co.. asset value of tfre stock/ which stood at $23.66 per share 31/1941, has increased each subsequent year—in 1942, 10%; 1943, 20%; in 1944, 16%; and in 1945 over 28tf. As of Dec. 31, 1945, the net asset value per share was $45.92. Total net* assets valued at market were $12,626,367 at Dec. 31/ 1945, as com- ! w!/ 1944 103,161,885 104,714,371 ! 89,191,417 ; 348,851 Special in 1945——— f' ■ selling/ admin. interest, depfec., etc. normal war The 3,678,644 111,616,438 111,897,815 Dominion cash deposits*, $5,163; 4,096,596 (& Subs.)—Annual Report— Dividends income 10,245,412 ■ 71. p. sold, Federal LIABILITIES—Accounts payable (trade), $6,999; accrued liabilities, $2,449; guests' and sundry credit balances, $3,042; taxes payable or % accrued, $24,169; accrued interest on bends, at 5% per annum, $20,900; deferred 163, Federal $12,787; hand, on 2,879,839 Provision for dcprec. on'Dec. 1944 31, profit for the year ended Dec. 31, ..9,122,568 3,319,030 956,779 before Interest $831,253. from sales of investments computed on cost of' specific certificates sold: - a of basis the Net 10,604,038 4,127,813 3,564/7^3 1,340,948 income.— Sundry deductions held by co¬ trustee under terms of trust indenture, for payment of taxes, insur* ance, bond interest and bond retirement, $62,847; accounts receivable (trade), $6,780; inventories (commissary supplies and food, at'cost), $1,263; fixed assets (net), $709,642; deferred expenses, $37,934; total, Profits and losses Balance Dec. 417,813 % railway..... goods Total SHEET, DEC. 31, 1945 and bank ot Profit 1,426$24,246 BALANCE 1 , 440,779 18,291 Other ' $11,918,745 ——— ——— $896,158 102,938 9,328,645 oper. General Capital Corp.-rAnnual Report— Balance, Dec. 31, v.: 1942 A 17,464 : 12,617 2,237 surplus ASSETS—Cash $13,606,985 value of 63,962 shares "'-'AAA par 1943 $638,711 and general expenses...— during the-year—• 1',688,240 stock repurchased capital 12,496""'i taxes . 3,625,534 — Cost ...f, ^ .... 12,432 bond of income Balance, $9,981,451 -———r- stock 136,112 shares of capital Total Less Federal received over par value 011 suoserjp- amounts tions to . .... . 31, 1944 Balance/ Dec. Excess 1945 1944 $735,141 137,068 Net sales $71,383 4,006 $69,651 ' v,/' $73,389."21,874 ; Amortizfition •///■ /'" ' 1345 $198,830 ♦784,353 , V■'/":;.//■//'1945 ' 20,888 84,393 . -Jan. 1 to Jan. 21- $184,450 CONSOLIDATED INCOME STATEMENT, YEARS ENDED OCT. 31 ,. -7-:: $324,742 sales; of investments credited directly to earned STATEMENT OF SURPLUS, - ;*^ • or ' Glidden Co. 1,076 — interest Depreciation $389,709 ————---- profit on \A\ surplus. •, A .... ♦Before net .//v. Bond cash, 1946 railway—.. ♦Deficit.—V. » •- from from Net $191,535 •'->•. $199,359 /■:: Total ' in /'"> p. 70. ♦302,175 railway. : oper. income.— / ry. Gross BASIS): $68,530 retired., bonds on Payments $'i.50 each in 1, $2.75 1, \ 1945 railway..—$597,395 From Jan. 1— Dec. 31.-45 June 30/45 f _ I- Discount $409,135 — income ♦Net 1944 //■:/ $f?? 945 —^' —* 1945 (ACCRUAL ' Profit $19,264,606 $12,420,423 Shares outstanding increased 72,150, or 14%, during the year. The net asset value per share of the company on Dec. 31/ 1945, was $33.55. This compares with the value a year earlier ot $24.73. The increase in value during the year, including the capital gain dividend of $1.62 paid on Dec. 24, 1945, was 42.2%. STATEMENT OF INCOME, YEAR ENDED DEC. 31 : ' - • Departmental cost, admin.; and -other expenses^ market—- at assets Net from Gross 31, has deposited with securing the above bonds STATEMENT LOSS AND stock. Sept. Dec. 1945 RR*—Earnings— December— oe Jan. on indenture trust the Income / $12,451,849 42,103?/?; 31,426 $19,306,709 : and $67,130' $64,150 .Net from was-announced it will N 6 Months Ended— 31, 1945 Dec. 31, 1944 Dec. market at assets Total 163, 1946 ./ sufficient lunds auring the six montns en.tta uec. «1, 1945, to enable the co-trustee to pay to the holders 01 sa*u >,onds 2Vi'/c interest. The distribution was made on Feb. 1, 1946. rut-v which $<*1,946 remained on deposit with the co-trustee who is it^uaecl, unaer tne terms ot the trust indenture, to set up ceitain reserves. An interest payment of 5% was also made on Feb: 1 and Aug. 1, 1945. at the the company on December 31, 1945, and ,A'A:.A/• "/A "•"/ " of assets net The end 1 and : ,10 Days End. Jan. 31 Operating revenues^ —V. 163, p. 779. All tenders and lowest offers submitted 16/ 1946, - under the. co-trustee Inc.—Annual Report— Fundamental Investors, of preferred 1/ June share; share.—V. common a ,, ' amount suffic.eilt to exhaust 309. p. March common a Georgia & Florida RR.^—Earnings— ■ 163, —V. of A.,.;,; ■ . share for each follows: as 12i/1500ths of Norton /, / ... sinking lunu bonwe <**».eu amy 1, $20,751, he.d ror tne purpose. of income mortgage to it Sales Higher— V 1946—Month—1945 1946—7 Mos.—1945 $1,414,010 $1,384,446 $14,466,931 $13,382,459 Jan. 31— Period End /A The Title Insurance & Trust Co., co-trustee, 433 South Spring St., Los Angeles, Calif., will until Feb. 15, 1946, receive bids for the sale ; will Franklin Stores Corp.—January Sales Wellington Co., & were 44/l000ths " " , Spencer Trask 163, p. 779. terest—Earnings, Etc.— declared a dividend of 15 cents per share on the common stock, par 20 cents, and the usual <lua£terly dividend of 75 cents per share on the 6% preferred stock, par $50, both pay¬ able April 1, to holders of record March 15. A distribution of 15 cents per share was made on the common stock on Jtyi. 2, last, as against 10 cents each on Jan. 2, March 31, July 2 and Oct. 1.-.1943.—/.162, directors The Co.—V. of 44/1000ths of one 1945 (The) Gaylord, Inc. (The Gaylord Apartment Hotel), Los Angeles, Calif. — Tenders Sought—Pays 2Vz% In¬ . Inc.—15-Cent Dividend Co., & " ■ Foremost Dairies, in cash. M. H. Monday, February 18, 1946 rate Loeb & Co., A. G. Becker & Co. Inc., E. H. Rollins & Sons Wertheim & Co., White, Weld & Co., A. C. Adyn and Co., Inc., Byllesby and Co., Inc., Carl M. Loeb Rhoades & Co., Riter Kuhn, Stock— Food Fair Stores, Inc.—To Increase P- & FINANCIAL CHRONICLE THE COMMERCIAL 902 that gas ranges will be Dutch Oven. Roy A. Bradt, J/G. Gamble, elected directors, succeeding were '/ .Volume Number 4465 \V>iv 163 W. D. Harvey; Dudley'Dates, H! ■' •• D. B, Tolley, D. C'. Flummer, vand Ay J. Stillwelly:''.'' •'■ t'f-\ ■'' , _ ACCOUNT INCOME FOR YEARS Net Of v" INCOME Net 1942 $5,205,065 3,638,719 353,487 Other income > deductions' 69,095 41,055 Other $864,701 73,644 53,682 9,253 62,274 56,675 875.000 410,000 507,000 50,000 "-.Net : 407,000 ■ M on Earns, .tf^'3'7,664 50,000 50,000 share- com. $142,197 $1.90 $1.21 1942. costs $835,982 402,510 43,519 income taxes--: 76,335 15,254 $285,747 ;. taxes— "70,000 ,, the announces Feb. 15, 1946, opening under 162, p. 3073. no and 38,'958 shares.—V. par the of branch a management office, in of Gordon 163 Detroit, Ferguson. ' Period End. Oct. 31— Gross from rev. Operating • $334,254 "120,000 . dividends —_ estimated deducting profits excess credit BALANCE caSh and , $215,747 C: ;v, 14,044 136,727 capital stock ASSETS—Cash, expenses included above applicable to post-war adjust¬ $981 • loir--prior years'-adjustments of depreciation and amortization, less applicable Federal taxes. ; $487,300 : value surrender $25,000 SHEET, —i.——_$439,973 1945 and 31, for $5,338,287 334,720 ,3,842,492 3,587,878 $165,844 Net 77,376 s, account on 61,843 $1,495,795 $2,192,876 $35,000 in transp. 2,614 2,031 from rev. oper,— $64,458 $167,875 $1,529,572 $2,215,445 80,281 150,884 1,340,775 1,941,245 "$15,823 $16,991 $188,798 $274,200 wW-— . v. of 1944. Net revenue 163. 33,777- 193 D. 1945 $50,000; Hotel Waldorf-Astoria accounts doubtful accounts of The $38,211), $1,383,457; accounts receivable—mother, $11,362; inventories) $2,206,371; investment (nominal valuei, $1;-land, $261,560; buildings, machinery and equipment (after reserve for depreciation of $1,018,095), $570,643; total deferred charges, $55,782; total, $4,871,468. • * ; !' 'PLIABILITIES—Notes" payable" to banks, $750,000; accounts payable—V trade and other, $971,328; accrued salaries and wages, $73,036; accrued New income $5,780;753 than "Loss.—V. DEC. $500,564' expenses —378,129 other J 1945—11 Mos.- -1944 , 67,788 * Treasury notes—face value, insurance ' policies, $18,535; reserve Rev. $267,300 S. life on (after $264,254 60,594 '" 77,376 recoverable in Ltd.—Earnings- 1945—Month—1944 trans- 220,000 Deductions Federal" tax of $313,759; U. receivable—customers and York Curb debentures, 22,5 C9 Corp.—Interest Payment— Exchange has ruled that due the 5% sinking fund Sept. l, 1954, shall be quoted "ex-interest" debenture) on Feb. 28. The debentures shall y' 2J/a% ($25 per $1,000 BALANCE SaEET, NOV. 30/1945 continue-to be dealt in "flat." The interest ruling followed announce¬ ment that payment- of 2 '/a (including restricted deposits of $55,000), $530,939; ft will be made to debenture holders en U, S. certificates of, March 1.—V. indebtedness, % % (less amount segregated'to 162, p. 2943. // •'VP cover liability for Federal taxes on income), $86,633; Federal excess >' : profits tax refund bonds .payable Jan. 1, 1946, taxes'and interest, $34,888; employees' retirement.,plan accrued ex- ?. $65,554,' accounts re¬ Howe Sound Co. ceivable (after reserves for -Earningspense for 1945, $100,000; accrued Federal and State income taxesdiscount, freight allowances and doubtful Years Ended Dec. 31— accounts of $8,3001, $388,148,; inventories (valued at cost or 1 year 1945, $95,000; deferred credit. to market, 1945 provide for,- service on 1944 : oil 1943 '-whichever is lower), $376,978; cash surrender value :;V Operating revenue •butnefs. of life insurance, $16,723;'common "stock ($1" par), $60,000; earned $9,209,085 1,302,517 $11,769,866 surplus, 332,307; Idnd,'buildings and equipment (afteryresetve for $32,307; land, buildings and equipment (after reserve .Operating expense $1,423,314; " ""* """ $4,871,468.—V. ' ^ " depreciation fofdepreciationz ; $1,423,314; capital surplus, ol,347,180; total, 3,895,921 4,135,680 161, v 4,499,497 «f $259,823), $414,707; patents (less Marketing expenses, etc. 1317. amortization thereon), $3,656; deP- 1317. 3,124,968 3,105,818 4,249,688 ierred charges, $13,111;. Expenditures (new .total, $1,912,034; , ■ ' prop, investiga ' * tions) , ' - ASSETS-Cash • .. . . oh Honolulu Rapid Transit Co., (,'$905,064 375,394 sold— & State inc. $1.44 $2.03 unused $106,756 resulting-from conversion to war work during tlncluding $50,000 transferred from reserve previously provided ments estate 50,000 "Including ■nor real income Common 22;45_4 50,000 1,355,668 Indemnity Co.-—Opens Detroit Office-- company :-'(/■'/ $166,495 21,446 ? . 1(8,706, shares preferred by 300,317 380,916 income before "After 15,588 stock common per $221,024 • ""Represented 50,000 1 stock' preferred Divs. $710,1831 V. $604,747 226,981 income for Fed. Net $205,724 - . 7% on The .portatiori tC)oO,98l surp.; to declared ' $588,008 247,974 income--——ia"_u'L——u—_— Preferred Transferred Divs. $483,202 Deductions Prov. nd: rehabiL-' % Oth. extraordinary items * operations--- Net loss from for post-war ron-t a Home 129,643 :-o $822,950 in 1944. common, 652. p. 1943 ' • nil,564 100,000 __— and .——_. —— from "..'Gross and ' amortiz.71,443 version shares 31 1944 25,802 $765,126 Prov. for Fed. inc. taxes Prov. —: 1945 Mich., $838,899 $1,311,980 ; Deprec, $723,471 36,316 . il Other $1,242,885 $659,830 ——. Total profit DEC. ' 412,177 Profit $623,514 ENDED $14,685,911 $14,459,311 $14,983,652 Cost of goods sold.^ij., 11,656,118 11,765,493 12.321,582 Oper., selling, gen, and adm; exps.— 2,546,591 2,105,810 2,057,323 $4,889,795 4,128,106 sales in 717 1945 424,112 467,332 'V: Operating profit YEARS ACCOUNT, 30 8,446,732 sold—yli:. 4,604,614 goods Sell., gen. & admin, exps. NOV. 903 liajoca Corp.—Annual Report- D. Smith 1943 $5,605,461' $10,113,729 sales ; ENDED 1944 1945 Cost THE-G0MMERGIAL fr FINANCIAL CHRONICLE " ' . - liabilities—Accounts payable, $i?6,972; accrued'salaries, |l|gt»xes,,etc., $145,514; deferred-tncomo (resulting from sale of lilxed assets), tation, $17,901 p reserve $150,000; for" post-war; rBnversion stock common (par $5 share), per wages, certain ,• $500,000; ation capital of Government-owned plants, duced 'explosives* propeliants,' and Charles A. Higgins, costing , Calendar^Years Net income "?""r " Provision ' for U. S. *- "" ' ' & Canadian 1944 $974548 _ - income taxes__ '< 364225 ' : All states carried out in his schedule on letter and at > profit Earned" per commcn share flnniirablp : $610)323 *1 ^551 income^ for* a' 11 dn respect of infringement of t I). 457. ; y'L net a amount of av4' reroverv I patent owned by the company.—V. 162, :':Z4.W,r:f.a v;'yy\{i> V>. J several years 1 a n net W?L a n am u W A A » has been made in is ** ^ amortization of 4he:accelerated Iflilc; the z-.-. * f—-Ye 163, ; , Gray son-Robinson Stores, IncA—Registers With The ■ (formerly company a-eglstration : statement with 50,000 shares par). of a and 50,000 shares of for ' to of Robinson's Women's Apparel, the company's 3% prepay ; f Inc.; note issued mm remaining 50% of the capital stock and $450,000 will be for the purchase price Vase of that corporation It ■ is of the also an- Co. See Grayson (The) is named g Total • Misc. -will special meeting a will on Feb, 8, Feb. 26 the continued growth affect the shares presently made value effect at for the each time share on of ; increasing 50,000,000 5, stated this outstanding. the in Ih ' this Such sale, with the company sold."—V., 163, p. 780. $1,340,560 504,468 ; Maintenance sition Federal •Other, it 2,209,339 dividends V'W '£i~i *ji kia is 16,150 Balance Earnings effect for Dr4,162 share per to ,77,148 of reduction in stock com. and stk. Fed. inc. ing from amortiz, of emergency Period End. Oct. 31— Fed. inc. Total fran- stock commomn I)r35,138 2,619,258 1,245,703 $4,827,992 Drl2,325 as have been duced through ance for emergency $438,010> $4,654,755 98,211' 926,576 v. >; (no par). shares— 19,206,192 1,316,710 $3.36 $3.26 - prior years. BALANCE ' . Goodwill ( Cash hand on Other Cash ^ U. s. and on and deposit..— reimbursable Finished and charges refund Postwar (contra) ;■ 5,122 2,240,491 f ■. 1,Z 23,908 58.597 ... 1,002,206 61,037 13,444,604 11,406,301 12,333,573 . providing for Federal income and ' 17,385,615 excess 7,038,212 of per share taxes.— ' ' . income increased from $23,71 to $30.44. totaling $3.85 which 85 and cents was interest per , - rail bonds, of sale and $3 from securities. share per at the The unrealized of Dec. 31, profit-on 1945, the r investment securities in the Portfolio to $11.90 per share. • $32,662,912, equivalent was net Adding year-end. such value increased 44.6%. as rrr, were paid to stockholders in from accumulated undistributed defaulted on con share derived realized during the year from the these distributions to the net asset value , INCOME , Cash ACCOUNT. YEARS 1944 DEC. ,31 1943 1942 $2,460,644 • 8,415 divide) dividends stock in in Interest ENDED 1945 $1,999,618 $1,749,931 $1,664,567 .52,875 50,100 51,050 64,815 45,522 $2,117,308 $1,845,554 , . —: ' Total income.^,. Expenses 14,738' 82,483,797 4,558,436 11,371,754 22,570,875 "Net Cash 416,766 309,265 288,230 242,874 $1,808,043 $1,557,324 1,623,816 $1,4*2,5^1 dividends fl,998,802 i.V "Exclusive of realized securities. 6,538,086; net gain gain 303,130 tExclusive from sales dividend)' and interest 2,661,870 19,803 $i,r70S>%; income..—$2,067,031 ——— 5,820,911 267,251 .profits p. 465. 6,499,328 — s. 5,080 . 1,047,209 profits 8,047,598 8,991,660 -i—i————i..—.— U. "* 101,160 4,327,709 17,913,417 — securities.—- supplies——, products Deferred items ■ 6,214,858 m —_———— Government Materials 28,953,324 - receivable assets 4,420,211 23,607,353 1,302,149 1,927,163 127,332 7,696 : 2,892,455 ' —:—~ "795,564 - "3,033,481 tAfter asset value net 1945 1944 $16,959,372 $17,143,407 7,483,141 5,000,000 V — '^Accounts 240,414 frcn 1945, $3.93 ' SHEET, DEC. 31 / __r_—^ property 58,826,403- Cr259,391 income depreciation and amortization of $4,517,017 in 1944, and $4,407,337 in 1943. / ""After postwar ,, and 92,199,944 38,772,332 The total net assets increased from $57,235,622.;the beginning! of VPtll» the year fRnt-Bsnnlert Xtr 9 41A ICO outstanding shares, to represented by 2,414,168 $83,530,669 at the end of the year represented by 2,744,299 outstanding shares. -The in ^ $1,724,7.66 in 1943, $1,057,177 in 1944; and $1,839,209 in 1945. ^Plants 65,272,140 •- §After assets— 7,637,979 • th# . : to „ ■5,470,402 Cr4,074,413 facil. , . 1,316,710 , . net 18,199,040 1,198,736 received and of of investment $219,510, on 1,708,714 unrealized $8,231,634, or gains and or $3 securities .eight cents losses share, per from (designated per share, 1,797,973 investment on as reorganization rail bonds.' realized capital a account on ol Z'.'-V-;;- ''/.'Z: ' NOTE—No provision has been made for Federal income tax on 1°45 income or. on realized or unrealized gains since the comuanv has elected to be a "regulated investment company" and has distributed $71,958,650 $87,853,525 liabilities— ■ $3,728,179 $3,616,930 531,974 594,920 ""Common .Accounts surplus.: before taxes $3,196,204 $3,022,009' 1945—Month—1944 and returnable accrued $6.73 la dividends taxes 16,945,850 accounts- containers -1944 -Capital Earned surplus \ surplus UTieasury stock all of $9,619,400 16,945,850 5,127,974 1,284,524 V its net : (contra) ——, — __.: —— Total $104,524 162, p. 2642. $133,045 $1,311,331 $1,359,432 — —— - — (including realized gains), 131,232 9,342,727 4,327,709 7,552,138 12,959,132 8,672,486 Total 4,112,456 Current ■,-$2,636,821 ———— 11,371,754 15,523,921 19,206,192 Dr1,577,475 Drl,577,475 $71,958,650 $87,853,525 tUnder U. S. Govt, cost-plus-fixed fee contracts. tAfter depreciation of $34,933,338 in 1944 and $39,066,380 in 1945. tAfter reserve of $847,- . STATEMENT OF NET ASSETS, DEC. 31, 1945 y.7„.: "Investment" securities at market quotations—.: Current' receivables ————— '_—: liabilities 80,5n4.1")6 ; 468,927 (—I..——..— $83,6r)C).8R4 — 169,195 Net Shares of 1945 —' 4,112,456 ... taxable income for (On the basis of stating investment securities at market quotations) Cash 109,360 — $5.94 1945—12 Mos. 4,718,152 1,284,412 (estimated).. fCash and reimbursable items result-, facilities...— Preferred Federal giving $9,619,400 ——— payable for Deposits . • t$100 par)___— stock allow¬ by— . ' 15,523,f ,921 ,710 1,316,' $4,815,667" re¬ amorti. facil. " .. , , $1,839,209 as result of accelerated amortization of emerfacilities applicable to 1945. tOf emergency facilities applicable to. prior ;years. \JOf emergency facilities applicable to 1945. flResult'^l ing: from accelerated amortization of emergency facilities' applicable 193,809 1 * nri nq nor ' common per . years surplus 13,759,236 171,638,806 167,071,959 "5,129,368 , Incorporated Investors—Annual Renort— ^miudi.xvepuxi, < . , ahd 1945—12 Mos.—1944L 16,510,557 Cr812292 Chise taxes for prior credit " of shown taxes above —V. . -V. 16 taxes.—V. 163, Dr625 932 income • /. - common joint (net Dr) tNet "Reduced 899,210 $4,689,894 $295,794 $339,798 requirements:^^—_______ : dividend 20,017,678 ry. oper. Net ry. oper, incomeincome— L__ Dr5,000,000 , 16^. p. 3074 524,928 gency 1,509,618 $442,172 Dr3,806 will the^?1945,' $4,237,712 958,431 18,199,040 amortization 1945—12 Mos.—1944* $376,749 amortization income expenses and w - 1,887,808 Preferred stock Net oper. rents 3,291,775 1,007,152 19,206,192 good of State Earnings desirable 1,540,686 524,928 3,291,775 _ CONSOLIDATED 193,809 2,832,596 1,305,241 226,166' 503,056 3,291,775 •—.i—— f'Tvi ■ ■•"; Preferred oaa 1,130,969 dividends Shares of connection: receiving 111,774 yi'i-.$372,943 & 2,195,451 ma reserve $21,576,996. 14,888,310^ 21,397,215 236,910,946 259,271,903 Ry., tax ; accruals-L-w-. 293,031 2,195,953 reduction reaucwon Adjust, '.' shares;wiir be 80,099 — Interest 126,882; 16,150 153,598 taxes— Net oper.. revenues— •Other income Balance" . 63,949 129,600 — v.;,: : 192,406 so not (after total, -Earnings of System— 1945—Month—1944 revenues Net rev. from ^ 104,937 T Additional authorized acqui- adjustments— income taxes .156,606 be- and . >T > 1,757,902; tax of ^Tax $1,496,417 $18,076,250 $17,177,716 509,321 6,555,590'; 5,882,124 79,894 ——: Amortiz. of plant k .217,467, tax Co.—Earnings- 1945—Month—1944 revenucs____ Depreciation stock tWrite-off shares. company, of Gulf States Utilities Period End. Oct. 31— / Operating •Operation capital surplus available for purchase on exactly the same basis as the shares ; presently outstanding-—that is, at: an offering price based on the asset asset I Previous surplus an additional number of shares be made available for purchase investors. The additional shares recommended to be authorized in '' income oper. "Deficit. unanimously adopt- ' vote from of value Ry. Ry, ——— is Foods, Inc.—Calls 6% Preferred Stock—: Period End. Dec. 31— 24,937,906 1,100,000 ' 64,263 amortization $10,864,452), $12,011,338; Illinois Central RR. 1943 200,000 31 ** - J 16,569,9841.17,193,903 • Dec * . bonds shares of its" 6% preferred and certificates for the sinking fund. The stock and certificates are j retirable March l at $10.25 plus 15 cents for quarterly: dividend. Hunt Foods, Inc. has outstanding 82,880 of 6% preferred stock.—V. 162,. p. 2643. J 277,296 200,000 . Canada ; corporation has called 4,297 Hunt Bros. Packing Coj; ;2,807 v deductions. ' Common 25,000,000 shares to Zuchtmann, Secretary, on Feb, not The war 288,764 conting value . of assets of - . «• _ supplies, at cost which Dominion plus accrued deductions—V that "by - cost /, . of interest (market value in TJ «" Dol¬ exchange rate Dec. 31, 1945, $1,910,) $2,103,483; inaffiliate—not consolidated,1 $76,365; deferred charger to $30,257; other assets, $23,661: fixed depreciation -Hunt , 1944 268,533 from . Preferred v ^ _ (malket j charges——. Shops, .uxax stockholders "Because operations! v ——A? Group Securities, Inc.—To increase n—^^italization-L- ry Capitalization- C. . />/•«. $17,596,446; capital surplus, $96,992; total, $21,576,996.—V. CALENDAR'YEARS . c\ a - $ $ 100,555,904 105,677,952 ,122,518,626, 16,301,451;;. 16,910,139 24,660,610 revenues-,, income Federal Federal . F, operating , $ Additional resolution to author^ the creation and sale of 50,000 shares of cumulative convertible preferred stock and another resolution to change the name of the corporation to Grayson-Robinson Stores, Inc. —v. 163, p. 652. stock ^, „ Other income Provision underwriter. a capital , plant (Shops Inc. below; Grayson The stockholders at The „ 1945 from i Change in Name Approved «d and sales ^profits tures of that corporation, and $2,250,000 ih payment of the balance of the purchase price of such securities. The balance of the p s trill"be utilized in the purchase of inventories. & ... . ticipated $250,000 will be used to replace working capital ital expended in payment in Dart of the purchase price of all of the capital stock of Klein On The Square, Inc., and of $800,000 of 20-year 8% deben¬ Emanuel . B * Net used 23. - , ' * f LIABILITIES—Payrolls, vouchers, etc., $438,712; United States and foreign taxes, $292,554; reserves for insurance, $381,409; miscellaneous ■:-^ie-^si,$461,3®4:, capital sfcock <Par $5), $2,309,500; earned surplus, (Including Subsidiaries in Canada and England) common . . It is anticipated thai of the proceeds $900,000 will be used to replace working capital expended in the purchase of 50^ of the capital stock many changes and opportunities." CONSOLIDATED INCOME ACCOUNT FOR cumulative , <jonvertibieipieferred istpek,;, (no ipar), <$1 SEC-^-^ promise Grayson Shops Inc. of Calif.) has filed the SEC for 6 on in ^operations, ■ during, the ' based Uvestment Higgins P.i1-93,/rjv.• Is flCZA \ treasury bills, at lars emergency •."The ■ d> 1 K T 1945; $157,054), $124,667; inventories Jow market, $611,027; investment in v; require large sums of money; for the years immediately ahead. aftermath of war poses many problems to industry,"' Mr. said. "Great shortages are everywhere apparent, bins and shelves are empty, and the world's needs abnormally great. ' ThC vol"ume 'of deferred construction of all kindfr is large and pressing, and purchasing power everywhere is backed % a large supply of money and credit. New techniques and products developed, Co.^—Sales Rise Sharply Period End. Jan. 26— K 1946—4 Wks.—1945 1946—47 Wks.—1945 ( Sales $4,759,918 $3,582,390 $49,232,588 $44,576,447 $2.80 share per X™^,r™(tahle-from f UA plant facilities built during war with company funds.: Giving effect to these two changes, the -company's net'working,capital increased during the year and aggre¬ gated $34,849,000 at the" year-end'. A strong financial condition at this time is necessary in line with sale and construction forecasts which -•"( 1,385,925 $1,77 deple- CONSOLIDATED BALANCE SHEET—DECEMBER 31, 7945 : ASSETS—Cash, $1,970,807; United States Treasury notes and certUicates of indebtedness, at cost less premium amortization plus accrued interest, (market value Dec. 31, 1945, $3,753,057, $3,733,197; notes and will |J: Grand Union $1,292,856 808,325 $1.86 of 537,931 . .the . ,308 646,660 (exclusive paid Earnings During the year th company's postwar tax credit became a current asset item. Also,'a reduction: in current tax liability resulted from ' income tion) for vntnm,- •» researeh past; reflecting the start which con: company's postwar construction program * SOTE~—For mechanical reasons it is not alu)ay» possible to arrange companies in exact alphabetical order.] However, they are always as near alphabetical position as possible.' ■ " * A, <le*el0>>ments lnltlated 414,095 r"r"**T • $3,020. coi metals, sold. $847,209; acoounte receivablesaia% t;r^uv.!y-;?■> v;••;$44,984, metals on hand, at market as to metals under contract "Capital expenditures of approximately $6,923,000' were highef than rand at production, cost as to An wl AnPi 4-L ^1metals unsold 1/tU U fQr 1 .'1'; for research continue;- at J about'.3% of company "Substantial expenditures will be required in. the future •sales.* . • a • ;r Expenditures $1.08 $110,000" (exciuelve Af'report 7 <0,<L9 296,119 $858,859 1 i , Net plants.'" $515,785 A $1.52 The profit for 1945 Included ' ' •••r 614,689 280,319 " $2,061,019 331,902. 615,042 foVelg,V."" and taxes; Dividends - Net , {> - , i produc- a $2,150,789 .396,569 Depreciation stock- to other _ cost substantially below that prevailing in the previous war. An important, assignment. was the production by the company of most "of the bfizookk and rocket propellaht used by the Armed Forces.". $786318 Net sales and operating revenues for the year were $100,555,904, 270 533 :r4compared with $105,677,952 - in 1944;*'exclusive of the munitions'of ' J-4 war manufactured at the Government-owned'ordnance 1945 , . "This program was $486,000,000, which preamounting' to $428,- other materials President, ■ 4 S? rehabili¬ and 37,406 iiercuIes Powder Co., Inc.—Annual Report- assets of /shares Net of assets — capital $5 per "Investments stock $83,530,669 outstanding (authorized 5,000,000 value each). share—-—j par at cost, $47,931,204.—V. Z—; 163, p. 194. 2,744 299 ' $30.44 THE COMMERCIAL 904 Indiana Harbor Belt RR.—Earnings— '' "Period End. Dec. 31— 1945—Month—1944 ' ' Ry. oper. revenues—. oper. expenses..'— 4,380,644 1 Net Ry. $41,670 "$3,024,566 Crl,658,731 from ry. oper. rev. accruals. tax Equip, and jt. facil. rents ,1,015,445 1,119,071// 1,050,443 Crb07,981 K- 73,379 ,117,733;, _ 1, Net $1,000 annual quiring Other income--—.//'/ 6,833 1,349,149 Misc deductions Total fixed Net 38.912 506,942 583,923 $599,952 *$1,515,628 $748,169 480,143 3,191 — charges—." 51,376 - . ,121,446 ; *$1,531,302 income *$969,774 any plus premium decreasing 1958 and Dec. Indianapolis Water Co.—Earnings— revenues^.'.. Gross, "1944 1945 31, 3,139,125 local taxes the 1,160,599 1,078,124 . 1,032,625 l,015,y04 stock: $1,165,567 $1,145,749 504,875 504,875 charges 79,472 I V; 115,511 . 504,875 48,306 75,350 V ' credit at of cost re-/ 1947 25% to acquisition at option time prior any prior to $7 on Jan. the nated date at before or amount to In V ' to payment the Jan. business 1948, interest ' , /•:;./: ■" into after 1, Jan. 1950 and jon $460,388 in 1940 Mass. It this agreement with company $1,500,000 was immediately available $1,500,000 will become avail¬ additional Manufacturing upon the consummation of the-Sullivan Machinery Co. Co. The . proposed and of- merger Manufacturing Feb. loan Sullivan Co. 8,- has INCOME into agreement Machinery and been with a proposed and also YEAR Co. this postponed ACCOUNT, Cost: to Ladel provides and take Operating ENDED Other income two pre¬ 21,. * J 30,,^945 SEPT.- $13 752225 ' p "-'"'ft 'lo 775'"354 expensesIZIIZZIIIIZII. income Ladel company, Feb. -Of;Sales_a—L—:'L Selling, administrative and general assets, subject to the liabilities of its predecessor It maintains executive offices at 84 State Street, Boston, has which An Sales, less returns, allowances and discounts_>____ 1954, to Delaware loan CONSOLIDATED the business and corporation. of maximum of borrowed. this the upon Jan. 1, been viously scheduled for common;; Jan. $3,000,000, under Conveyer to y December, m ■ a revolving credit of a maximum of $1,500,000 at any time out¬ standing during the three years ending Dec. 1, 1948, to take care of short-term borrowings dufihg. .'that-'period.; -v" •/ ' The - special meeting of the stockholders to consider and take action ' before company's regulation V-Loan credit was termi¬ loans and. in addition' the repaid in full. k, .<• //.Lf meet its long-term financing requirements, the company ' 1945, negotiated an eight-year term loan for a Conveyor, and and on or or before /or on of 1948 1, V" prior day share per • the year to 1, merger of repayment of all outstanding the 5-year term loan was oi has olir close for fund on plus like •' •' Dec. able stock of the redemption at 10th the rates $8 of case on ■ V./(/; common in or following 1, accrued ■ holder order and premium;; sinking of amount on through Jan. 1, 1958 through / the of and '// the of the upon balance after Jan/1, of close 1949, 1, thereafter operation periods. the Jan, period the During the of Debentures/ year. period the the principal such . at before or 1%-for through or redemption over $526,783 $561,402 for three-year to their during on each COMPANY—Incoi-porated _________ $541,348 for divs... Bftl.. avail, cash in equal year fiscal ' ' * of calendar preceding 1950, $9 after Jan. 1, 1; 1952, $10 after Jan. 1, 1952 and $11 after Jan. 1, 1954; < $1,040,613 $1,079,965 503,708 income Net . Interest at time before Other deductions 1960; company any 1,179,191 and 1,130,668 1,021,014 %' 5 for Convertible $3,077,532 of 1% notice $3,243,2o8 $3^22,883 r. $3,445,473 Oper., maint. & retire. or depreciation All Fed. •-/ 1942 * lieu amounting premiums 1943 .:'••• each next not exceeding principal amount thereof. Sinking fund money y applied to purchase or redemption of debentures. /.(%•'•>. at the option of the company as a whole or in part at time on 30 days' notice at principal amount and accrued interest like 12 Mos. End. Nov. 30— in for Redeemable ' "Deficit.—V, 163, p. 72. in -Sinking fund commencing $500. be $1,848,904 516,812 $1,201,541 *$1,476,735 ——- and income manufacture Since company to income Total Our ownership of Ladel makes if possible for us complete line of conveyors jn our pwn plants, ' mour fiscal' year, our commitment', to buy 53,800 shares of capital stock of Sullivan Machinery Co, from The Adams Express Co. and from American International Corp. at $31 50 per share has been cancelled by mutual consent and the application pend¬ ing before ".the Securities' and Exchange- Commission for an order of exemption to permit this purchase has been withdrawn; /. ;;' '■ \ v / to issuable payments net deposited be may office Monday, February 18r 1946 ' -'f Philadelphia,-Ohio. . Jan.-1,- 19G1.; Principal and interest (J-J) of Old Colony Trust Co.,. Boston, Mass., in fully registered form only in denomi¬ due principal nations >of . "$102,170 *$1,012,179 1,303,711 42,405 oper.-income. .*$1,483,568 ry. 1946* Debentures consolidated 1 ■ Jan. at trustee. '$701,089 ' $2,565,643 • 70,461 Dated payable ./., Offered—Car¬ Inc., Boston, on/Jari.SQoffered $295,000 155y4% convertible debentures 100 and interest. year / Inc.-—Debentures & Co.,, ver $1,374,165 $16,392,134 $16,281,505 1,332,495 17,093,223 13,<15,862? $1,356,078' Ry. Automatics, Johnson ■ 1945~^ FINANCIAL CHRONICLE & 1.132,422 tti'i ^ j il £• $1,844,449 _ 163,601 subsidiaries. Johnson Automatics' Manufacturing Co. SHEET, DEC. 31, 1945 (Jamco), a Delaware corporation which is a wholly owned subsidiary, Total income plant, $25,117,871; investments and fund accounts, and Latisteel, Inc. a California corporation 70% of the stock of which $2,008,051 Interest expense $9 413' -' Cash, $1,212,980; U. S. Government'■ securities, $1,550,000; /?/• is owned by the 32.576 company. The types of businesses engaged in by the Federal/normal tax and surtax accounts receivable, $346,325; materials and supplies, $127,486; special company through Jamco on the one hand and Latisteel on the other 349,700 Federal excess profits tax^-— ' * deposits, $269,325; postwar refund of Federal excess profits tax, i. • are 863 300 substantially - different. w, „ 1 State income tax $48,700; prepayments, $13,429; unamortized debt discount and ex¬ ZZ..ZZ To'ooo The company through its subsidiary' Jamco is enea^ed in the pense, $697,550; miscellaneous suspense, $11,582; total, $29,404,661. Net income development, manufacture and sale of firearms." In addition to the ,v LIABILITIES—Long-term debt, $15,425,000; common stock, $4,000,+ $687,475 research and development work for the United States Ordnance De-, Previous earned surplus 000; 5% cumulative preferred stock. $1,054,900; consumers deposits, , Z_Z"_ZZZZZZZZZZZ 2,695,052 partment it has since V-J Day'been engaged in the. conversion of its $i21 570; matured interest, $253,690; taxes accrued, $1,038,942; interest facilities to peacetime work through its custom gun department, in Total surplus accrued, $26,231; other current and accrued liabilities, $118,030; de$3 3 the, production of rifle' barrels in jsporting calibers and in the de-/ •.Deduct refund .to the U» S. -Government ferred credits, $239,847; contributions in aid of construction, $2,591,842; pursuant to re: velopment, preparation Tor. and production of allied and related items.' negotiation agreement for the year ended reserve for depreciation, $2,006,857; other reserves, $26,254; earned '■ Sept. 30, 1944, in- excess of amount Lpng before the termination of .hostilities the management previously provided, less income felt surplus, $2,501,497; total, $29,404,661.—V. 163, p. 311. Previously provided,; less income that it was desirable to acquire an interest in an taxes applicaWe there °__ \ enterprise having vf 29,950 Cash dividends paid ($1 possibilities of peacetime development and entirely divorced lrom the " per share) 424,100 > International Telephone & Telegraph Corp.—More production and development -of firearms and related items. To this end the company was successful in Balance. Sept 30 1945 Phones Placed in Operation by Subsidiaries— s' obtaining during the late Summer - BALANCE ASSETS—Utility ...— _ , „ — - , • . Ll . "$2,928,478 . of /( corporation reported The subsidiaries gain of in that its telephone 13 countries had obtaining war in gentina the the exclusive ownership sublicensed license of thereunder. 5 'A % Chile, Cuba,' Mexico, Peru and Puerto Rico. . These reported a backlog of 166,000 applications for service at Brazil' fCcmmon the the stock - * 1 f NOTE—Included are : , .. $295,000 .. BOO,000 shs. , for 1945, ' ' ;/f// reductions 440,000 shs. seized -the Japanese in system Dec. 1941, amended back in service. This Government Communication Ad¬ are to ixrcrease Bank the on last Shares, Group A-like-amount 28. year.—V. 163, payable 31 holders to March on of 31: and - construction record :. in Sept.. 30, New of of acquisition The the 1st 15 have directors and cents 2nd declared preferred share per Co.—Dividend Increased— the on the stocks, and a- working j --,i* .• t* i, <• '— ' 1 - The of ' record stock copimon March' 20.'- heretjiore new , of. 10 cents per share since Jnly J; been quarterly dividend all payable April 1 of // plant-at of 1942. balance,, it/is ; 1945 i1.-. //■;/ C^ptwatihg Li:— Provision Taxes for other Federal 3,050.361 •*-; * — ; Warwick, Rhode Island elsewhere ', >or anticipated, will be used for depreciation..—.—_ . and excess INCOME STATEMENT OCT. " r • ...—i 11' MONTHS ENDED earnings from operations.. Other income (net) $1,229,683 44,118 Amortization Interest of 593.702 Net $667,070 unfunded on expense 11,386. 12,001 Crl9,798 income S634.043 preferred stocks on Balance "The with has original began amortize to $0.72 utility contingencies reserve refund $52,076; U. f $50,327; total, $734,776. PeriodEnd. Dec. 31— p. / !||| f shares Feb. is offering 1946, 21. the new stock to at held,.; the rate oi one its common share new ' . / • ; \ *•'• /Est. , business, ' ■■/ ."*"-// -• The underwriting group i? headed by McDonald & Co., and the Ohio /: Co.—V; 161. p. 880. ' ' Jewel Tea - Four Weeks Ended Jan. 26— Retail —V. sales 163, p. 1946 781. ' • $4,573,299 ;«./ ■ 2,385,005 732,225 1,942,143 - Z / >( and Federal tions, Cr3,367,000 $2,367,774 , -. $2,488,629 $0.90: $8,082,082 $1.10 $2.91 to reflect accelerated amortization, taxesi/ tAfter deducting all expenses including ■ provision 163, p. 312. J. D. A. the In Morrow, Spring of $1,000,000 completed states:. all of our Mutual Life Insurance Co.—Two New ;*•; - " " John board V 'in . M. of Hancock directors/ Hancock is ' ;.M. a and Charles J. Dim an have (I'm v elected •. . to '>t the - - partner of Lehman "Bros.,, bankers, which he Joined '• * ; • ..... ' —. £(11 ( Diman his has business been life. associated He with the Job-. was Secretary • of year/, was elected a ""^cond Y'.:e-President in 19/ Pre*'-::cnt since 1937. V. 163, > 194. Hancock he company <>nd has . ; company for 23 been Vice- to increase were regular • • * : ; $7,966,663 $344 retroactive C-r M«nu. we (ring Co. . incident director of was i dealer Cliicaffo—Stocks ./ war • .. to in "'0 'acquisition ■"ay., has Offered—As ■ 1 men¬ & Co., , " . ? but we an. of /;' Ladel excellent • *■*' plant at are Double 8,000 over Kay Nut^ premises under a three ■< nut complete containing 57.000 lease expiring plants/one salting feet" of square April 30, 1948, usable at at floor rental a of in public a warehouse located in Minneapolis, Minn. $110 the the RSK of of Corp. all The Bank, Chicago, public 5% interest. of debt. unsecured 1946, and company 6Va% non-cumulative - offering of , Of this the debt remainder and the cumulative be equal notes second a plan prior - • - aggregate the of shares approximately follows: principal company, $200,000 to Harris the to ex¬ will be of recapitalization the presently shares applied of to and ;Savings $384,245 will be ' 1 ' of preferred reduction Trust of holders common .. amount, short-term the of investment . company and the shares p.rice'/^ill as the to 18,183 approximately to reduce the company's obligations to banks. standing and proceeds preferred sale approximately. $584,245 CAPITALIZATION—Under 16, the retirement outstanding bank an net cumulative from proceeds will be applied balance retire -6% and the at the accrued short-term used 17,000 shares, to that "the estimated of Such net $74,105 clusive (2) is sale common amount could New operates in center of (1) *'• Conveyor there present Peanut $658,350. /•■■ ■ At 1 PURPOSE—It 1944. to contracts • d1 '; 1% 28,'Kebbon, McCormiek 1 /* opera- '' at rental opera¬ contingencies use. Thr and finished their comp'e't 1945, per month. The approximate total, capacity of all salting plants of the company and its'subsidiaries ds 650,000 pounds of product per 40-hour week, ,/ ;: U wages, mining unmedlp'!' to Co., a wholly owned subsidiary, operates a nut salting Albany, Ga„ in premises containing 15,000 square feet of usable floor space occupied under a lease expiring Feb. 29, 1948, at a deliveries to us. However, the shipments of machinery and parts increased approximately $1,000,000 over the preceding year. *'•'. Just prior to the close of our fiscal year we acquired the plant and production facilities of the Arms-Franklin Corp.; at. Franklin. This plant h»". '^proximately 68,000 sq. ft. of productive floor space arfel is equip ' * machine tools and other production equipment which our been 1941 issue of Jan. stores. 111., tribution Miller 1,855,000 Immediately increase shipments of our own products because /certain of our suppliers still had urgent war contracts to fill and were unable Directors Elected— * ., 1 private service warehouse at Boston, Mass., In premises containing 6,800 squaie feet of usabler floor space occupied under a lease expiring May 30, 1948, at a rental of $250 per month, and maintains a. dis¬ 1 for -...... 'CZ 163, Francisco, Calif., in premises containing 13,100 square feet of usable floor space occupied under a lease expiring Aug. 31, 1946, at a rental / of $200 per month (with an option to extend the term to Aug. .31, 1948, at a rental of $225 per month), (In addition, it operates a not John Hancock from our occupied from President, we $10,558,046.—V. ■ $2,025 per month; another at Passaic, N. J., in premises containing ■31,500 square feet of usable floor space occupied under leases expiring /'Nov. 30, 1946, at; a rental of $850 per month;- the other at San, / . * 1935^ to 194L—V; 163, p. 465. company Chicago, 44,000 ' surplus,; total, , offices are space •5,561,006 ' shares /' 1 tin- and located at 365 East Illinois St., Chicago 11, III., was incor->,.r in Illinois in 1924. (• Company and its subsidiaries are prino Cipally engaged in the purchasing, processing and marketing of salted nuts. Company's products are sold under the nationally advertised trademark, "Double Kay," through Double Kay Nut Shops located ' /Viit retail stores throughout the nation, most of which are drug or : f • , CrB 324,000 ________ on taxes for , , (iporated /•"(;/_////'••'■/. ' /'Z.Li./ refunda^ (nr/.////;/';(//- Net income Earned per com, // "Adjusted deposits deductions 1 $270,610; associates, plant . $943,653; 3 " expe"scs; pw'd- ^ of- and V; Joy Manufacturing Co.—Annual Report— 1945 —$5,539,624 v —— prov. & /Loss.—V. Co., Inc.—Current Sales Up 21.1%— accruals amounts Z-, . . ■ 4,618,431 237,674 quarters 3.155 Davey, has been appointed as Assistant Treasurer.. For 17 Chrysler Coip.; Mr. Davey- was executive assistant on the from /// The $4,663,290 $26,986,568 $30,301,856 — of > payroll liabilities, Shops in use. $9,821,663 Charges est. refundable amis. plan, on Jan. 24 offered 17,000 shares of 6% " ^1 preferred stock at par ($20) and dividend r )« arid 34,000 common shares ($3 par) at $6 per share. In addition 10,000 common shares are being sold to the (;■/'•! underwriters for investment at $5.50 per share and are ^ not included in the initial public offering. ■ 2,385,005 prior compensation with /' department -1945—12 Mos.—*1944 6,854,335 ' 983,536 Adj. stockholdersf: each five / for 1 " ' from the Sale will be used to discharge/ so far as they S may reach, of bank loans owing by the company as of Feb. 1, 1946. in .;; the aggregate amount of $1,200,000. It is the intention of the company to pay off the balance of the bank loans in the normal course/; (& Subs.) —Earnings— 1945—3 Mos.*1944 taxes.' The proceeds of receiv- * Fed, taxes taxes-/".$$6,956,-226' t$3,072;371:X$4,715,082 inc. & exc. profits "" Fed. The company on Feb, 11, filed a registration statement with the SEC / /for 33,153 shares of common stock, (no par). " ' ''*•*•;/ company $593 839" other cumulative . 16,153,045 Interest 653. Jaeger Machine Co.—Registers With SEC— record 40,000 - 14,433.565 'Inc.' def. The j. earned „ of losses year $22,109; accrued expenses, $28,819; subsidiary, $11,507; capital stock, $44,000; capital surplus, $214,845; total, $734,776.—V. 162, in $413,498; $233,374; surplus, -,$2,928,478; Kelling Nut Co.,. Treasury bonds, $100,373; post war $25,448; accounts receivable, $91,122; inventories, $173,assets, $63,797;: property, plant and equipment (after re¬ $25,695), $54,240; patent rights less amortization, $124,337; Jones & Laughlin Steel Corp. / acquisition proposed by ' the approval by said Regulatory Commission.—V, 163, I 1945 banks, on * A, arid S. adjustment account in tTotal earnings with the $2,371,704 plan company in. its report Deprec., depl. & amort." * Regulatory Commission, and the company has been advised / that in reports filed with.: the Commission ; of war emerg. facil... 2,235,921 it will be required to amort, of classify this amount/ under ''other deductions." Such reclassifi-'•/ .Accelerated war cation of property and amortization program are' emergency facil.. C,854,335 subject to review /, and earned tioned in 60,000 current on the to based treasurer's staff 4,243 / $52,827 minoiity interest plant accordance v ^$152,627/ " • S0.76 com. stk, > its property accounts in accordance recently completed and in May, 1945, study " losS incentive • payable/ /trade, accrued 194.- .years 3.764 ; $315,116 reclassified cost 30, in $157,070 LIABILITIES—Accounts payable, . 334,903 $299,145 company an of charges, surplus, Earnings per share (412,000 shares of $160,634 bonds, of serves $650,019, 334,903 SEPT. deposits (net).. $1,889,105: Kaiser-Frazer Corp.—New Official— other* del erred Net p. CONSOLIDATED BALANCE SHEET OCT.,31,.1945 - refund Cr966 - I ; provision for Federal1 income and for renegotiation refund, $1517;common stock,1,000,000 shares (par, $1) $484,100; paid-in taxes $4,145,466; , 10,157 loss ' 056; 113.206 Interest charged to construction....... State 11,163 — J /ASSETS—Cash, ( ' 11,459 / 9.382 debt '- ".162.551 (net).— Estimated Federal tax ;; 598.802 ^Amortiz. of utility plant acquisil ion adjustm'ts Dividends accrued ted expenses. operations consolidated , discount and debt selling Minority: interest loss $1,271,315 Interest on long-term debt SHEET, demand trade under contracts, and •/.: 41,632 $1,341,927 ^Net earnings sales bonds, $34,459; , Net '; and receivable, LIABILITIES—Accounts - lions .826,217 $1,297,809 , and patents from Restoration Net hand on accounts completed 644,932 ;; loss Net : 723,164 613,558 1 > - 4.-.^ 'K 907" 31,. 1945^ sold of Other/income (/; ,325,510 633,527 - goods Net:-,Joss $6,545,500. taxes—684,036 / profits taxes-.—940,129 . ^ additional Research, and development expense / ,..2,827.369 . and M. -361,790 _ of $7,496) resulting from Sept. 29, 1945. have been end contr>ct' ■$16;o"(,: . -1944 than Federal: income income ' ,, • Z—1 $5,967,658- revenue >1,1 Operation Maintenance : cf Amortization SlJJS $1 , ' BALANCE employees : r -rl '^INCOME STATEMENT FOR 12 MONTHS ENDED-DEC. (Subsidiary company not consolidated herein) •->; , amount /L' for less years shares, at cost, $71,193; investment in capital stock of Sullivan Ma•/> chinery Co.. 67,452 shares, at cost, $2,317,437;/property, - plant and /h equipment, .at cast (after reserves for depreciation of $446^96J)I $766,561; patents (after reserve for amortization of $14,890), $65 612* Z y capital. dividends// General, administrative quarterly net (a allowances prior .. /'* part fbr the expansion of the present; Latisteel plant at,; Pasadena,^ Calif, ^and in part for the this plant "upon which' the company already has an •Sales. to Cost paying ASSETS—Cash in CONSOLIDATED //'"/i /H// has property, plant facilities and applicable; to ' notes from. • . stockholders CONSOLIDATED war on/// quarterly stock, ; dividends regular common « of Also, -increased facilities taxes . emergency patents, emergency income of $i.42 foregoing statement depreciation amortization of the option.; The Iowa Public Service : a England, facilities 311. p. stock common for for the . mated per share has been declared March disbursed was authorized $56,883 $105,861 in expenses shortening the amortization period to charged against miscellaneous income, PURFOSE—It is presently.contemplated that the net proceeds Testi¬ at $276,475) will in part be used to help defray the cost of Institutional Securities, Ltd.—Distribution— Feb. of, 600,000 shares, and 142,857 shares of common stock 42,142-shares of common stock reserved for issuance upon of present, issue) will be - reserved for • conversion' of. the (including .conversion debentures. f.:*A semi-annual distribution,.of 2% .cents amount in • and 440,000 shares to unit was recovered by the Chinese ministration and returned to I. T. & T. control and management short¬ ly alter the Japanese surrender.—V. 163. p. 653. f the costs amortization amortization/ of "The ' - - in aggregating equipment, f ^Outstanding remaining $705,000 of debentures authorized by the indenture The Shanghai Telephone Co,, I. T. & T. unit which serves the In- ^ are reserved for issuance.by the company subject to certain restrictions in the indenture, from time to time, for its ternational Settlement of Shanghai, China, reported that approximately proper corporate purposes.! ; fSiiice Oct. 31, 1945, ! the certificate of 91.000 of the 93,700 telephones which were in operation when the . incorporation has been;; (the end of charges - and ; PRESENT FINANCING *$1,000,000 10c) (par Earned per capital share..-;... Patents which was Inc. Authorized convertible- debentures. stock Latisteel, GIVING EFFECT TO * Latisteel so-called of ' / ^ ; • 15-year under 70%,, of CAPITALIZATION ^ telephone equipment. At the year-end, the ten I. T. & T. associated // companies in Latin America were serving 859,938 telephones in Ar- ■■/>: -companies 1945 and net •> despite the; con-y :'. difficulties of operating aggregate an telephones in/ service during -1945, experienced throughout the 27,433 tinuance on Feb. American Latin seven " <.', ve Jan. -/id e issu and out¬ (he 7% preferred shares, adopted a plan of lecpitali* •zation purst"r,T io which the following-exchanges wPl b .effected: (1) 483 6V4% cumulative prior preferred chares will br; changed I " -Volume 163 -Number 4465 THE COMMERCIAL & FINANCIAL CHRONICLE 905 " for. 6'A. cumulative 2,600 APl'ior preferred shares / and 2,000 T/b ' for 33,334 (3 ) exchanged • As part of reclassified The : preferred shares; will be of such after and ; amount of 5% to: giving (1) investment ,'17,000-6<A -cumulative notes; common shares ($3 44,000 common shares /by the underwriters - of shares offered-(10,000 Kebbon, The : the TO in her owns, prior additional contract .the 6/ new S. McCormick which preferred she all of U 1 c » of 9,900 exchange said such v - t I-.- , „ // be 2,600 ..i » ■ ; all for redemption said, stock of Feb. on the April on profit,—//— D. will 25 assets all certificates. . upon . , Its of to sell business Net V 12.6"c, Prov. for doubtful' sects——— ,4,976 * " '' ' " 1045 1944' -•■// ;/ 15,875,826 $116,759 Other income. * »: **' > t\Total / * zt i f- ^, , share—i—:— " / 5,643,418 $3.07 ^ ;,;?4,0°6 Excess profits taxes ; ' Post-war credit ———u——- 49,345 — 136.422 ; Cri~315 ' / 261,817 Public two-thirds of La Consolidada's sales one-third business.,> Only the Railways—ordinarily $104,801 Structure— Change sales. Capital for Plan a recasting The plan through 'the following cmpany;-' would with corporate .structure consummated, the Other Ford Lake leading Motors. • > wire copper of t a. divided-into S650.000 *« . / ap¬ 50 000 share to /I ' . holders 1945 Shares the on were Dec. com¬ 29, no-pnr value, and to eliminate Kewanee's preferred stock, (?) Issuance of the new,common: stock to the.puhlie preferred stocks holders and to North .American in such proportion as to distribute RetMnar (3) proceeds of the of $600,009 t0 y»ivb>. to ^lining: Kh kland Lake Cold scld at customers American include Smelting is as a company—The 10/ of La General' and / National ' '' Non-operating income rate of Feb. 9 declared $20, par 5% record Feb. Total, income and - Dec. Dividend 30 cents each; 1, Oper., develop., and gen. Administrative expense expense—- Vi. 1 )} ^ }Operating profit //vA on: notes normal $l,0O5.790 .762,340- • 760,510 20,194; , Federal excess 7,440/ Net 700,605 " -21,376: . 22,26^ - $31",257 $282,954 166.052 - y ' */■;./* 75,273 ■ 62,292 ; """ taxes *■.*■ 11».i— assets (net), , - — $5,232,155; prepaid insurance - LIABILITIES—Capital stock $28,423; accounts pavable. and account, $472,086; loss (par $1), $15,288: total, $5,326,699; reserve for Cost pre¬ ... 1,; 161, shares - —— /(> / •;. 1946 Years End. Dec. 31 Gross profit from 1945 / / sales $957,538 Sell., adm. and gen. exps. 408,313 $4.92 ties, ■ 305,558 183,552 246,880 202,827 $1,258,239 $1,228,266 $1,024,250 $774,814 127,364. 120,888 // 41,671 767,900 ; — $563,536 /;/ •/"Net profit from ——„r_'—:'$73,551 stk. cap. ($10 —J and / Net profit Preferred State income tax $2.42 SHEET, OCT. ,31, .1945 prepaid materials $573,012 divs. $272,944 . Cash $450,547 Excess unamortized taxes, $48,78 , $17,707; leasehold improvement/ supplies, $131,969; provision " : Federal 64,481 202,877 / 113,364 >; BALANCE .. . Government , receivable taxes year,jvif . ,.$170,308 $134,074 yj. v $167,749 '/*/ 255 79.981 // in & Property, $132,248 '.;./•■ •• ..86,308 r V,., . SEPT. ". • ■■;■. of that Atlas is Corp. has Autocar to purchased f ' 1,300,955 3,405,175 / 122,502 ; 40,000 Government—Postwar refund of plant and —_-_o. deferred charges —^ 329,81?3 •* equipment. (net)——— -J.' 1,423,220 and expenses . com. After, depreciation 1943, $5,296 in 1942, . / ".•V-;- ASSETS—Cash (after reserve factories and finished $43,091 on ;-■■:'•/ 81.531 $i.6i // 13,149 in 1945. $12,938 tYear ended Dec. 30. ^ in hand, and in banks, $85,000; ; 1944, $8,570 /: profits tax accounts at .cost Havana or market, whichever lower, receivable;1 t . to 33,523 , '.t-;/. ■„ ,—„ ($10 //—;^./ y.. // >• 1944.: . $150,608 $1.0(1 in 20 Feb. 7 announced that the directors have dividend* until final figures, for:the fiscal^ year 1945 of 10 as were cents; each.—V. cents determined." Feb. 28, have been 1945. follows: / a and May 31, Aug. 31 161, p. , quarterly of 20 cents and Nov. 30, quarter¬ 2819. 3Sv The issue / ■> 282,254 220.000 1946, Ry.—Proposed Refinancing— its $.658,000 first .mortgage 5s of to an according a Commission. The aplication tiled company has ;f 102" 1959 at with the In.erstate applied authority for to has been 163, p. 73 10-year 2V2-'/f instalment note for $675,000 which it by the Boatmen's National Bank of St. Louis, Mo.—V, Lithomat Corp.—Proposes 1,087,037 2,044,102-.' 1, yjjtjf • v/j ■'••,/1/-'",1:.// /;/.//:// "'.';J"/"'. !•/'•'"/'/ '• 1,131,000 268,093 ; will call company May A1./'// "V/ v 'ji?" •/ $2,500,000 —•—_/:/ 413/04 -•,//■.- « ^ income—'—-—1,410,829 \ 122,748 par) / / 1,200,000 / 1,200,000 _j:_—-v-i. surplus of 28, extra Commerce / $8,255,978 on surplus 1945 $147.838,.: $0.98 Corp.--pividend Action' Deferred— 011 • a Litchfield & Madison on 30,761 ^ $1,000,000 renegotiation.* « taxes Stock lies ; 1 , 1'/. banks expenses for an offered Government—1944 payable—trade Capital Earned trade $1,928,999;. duty $53,227;..investments,. $26,684; '• v., S. Capital bonds/ ,i. re/ --i!i A special take action meeting on a of Stock Split-Up— '//P'///'^-/ stockholders has been called for Feb.' 15, to capital stock on a five-for-one basis. plan to split the It Is 1,71-2,939 proposed to change the .pais'value of * the presently authorized 36,000 shares from $1 to no par, and to issue fije new-.tto par shared for each share of $1 par stock, .// / r •The stockholders'are 'also' asked to approve-an ihcr(;ase in the new '' *—'• stcck ' -. 220,000 a,, — • Jobacco in .bond,. $107,793; .inventories .stamps, U. Provision ///■ refund payable to Accrued $210,067; U. S. Treas. ctfs. of excess . $6,556,728 Accounts in ^ and 1,196;846 1 LIABILITIES— Due /////y /. . Total Notes ■$1.47 l SHEET, DEC. 31, 1945 for leaf Tobacco.'$60,000; revenue // 82,731 $1.62 for discounts,, $5,966),, $294,003; inventories, tobacco in in domestic and Cuban warehouses, work in process and cigars; advanced 011 79.731 $1.92 •;/', of due .1946, advance labels'and $81,186 t v. 83,397 r ! BALANCE' indebtedness,$12,107; $54,093 outstaijdjn^.,!'jl (no par)— Earnings per share—;— * /;■ ** ./ / /„1 , v-. ; Prepaid Feb. Payments 24,922 3,451,165 Lister-Blackstone, Inc.- ad.litional This•: Atlas an ', common-stcck > , (The) Lionel The corporation deferred action. on '• /$90,827 io Shs. Liberty from Net profit after charges and taxes-—• Earned per share on'150;407 "common shares-* —V. 162, p. 2274,, $1,039,868 Lister-Blackstone, Inc.— '/••'■'"••"/•5,48'i advances to ''/: ' Co. 5/ convertible pre e"?ed stock. the option granted by Liberty when - ending _i__ surp.u.s, ■/':•"■ pursuant '- 1944 ' ■'. 721,735 Patents 900 88,257: ; 805/35 j.;■ ekrned 30 1945 $720,434 —„— liabili¬ $767,900; capital Liberty Fabrics of New York, Inc;—Earnings-— $1.39 securities '/•:. excess profits taxes (caf^/am If/ ..,,-79,481 SHEET •: . _—/—___ accrued $69,977; income, on ■ $166,223 ■ $0.28 receivable * — Due from U. S. 94,301 -. hand on accounts Inventories Invest, 299,196 j.;u? ■;/ M . payable, accounts for Liberty's holdings- of'200,000 sharas"-of-Autocar unaffected by thero sales.—rV. 162: p. 3194/ profits tax refund bonds Accounts 1 $291,029 79,922 States Customers' 18,085 .•. banks and in /United ' •/ 78,227 dividends.—/ Common /'•' ASSETS— 363,842 $325,665 103,508 /- COMPARATIVE $636,786 23,134 .. $33,494 —>/^. • and expenses and of 38,100 1942 $427,413 33,067 " • /' ' * - $725,317; land, $2,667,084; salt ponds and appurtenances, build¬ eauipment (net after provision of $1,159,945 for deprecia¬ transaction 460,800 v 3,000 :i (> vv;' eash and cash items, $772,870; U. S. obligations; $348,851; inventories, $453,500; invest¬ main 18,298 20,500 , 33^^^$72,907 /233.040 '^^1233.040 / $2.46 $2.46 ^91306 ^ * 233/040* purchased the original 20.000 share block> in December, The sale of the two blocks of Autocar preferred represents epproxmately $1,000,000 for Liberty, which had received the shares as divi¬ 11,046 ■/ 6,082 ' v— '——/— Net profit excess ■ for $292,597 23,792 / profits taxes___— /.//;! ' 1943 " $107,9 receivable. accounts $1,681,068; nounced $694,467 10,475 Earned, per share $834,981 >. *■".,' 407,568'.'; 501,036 /: 466,080 /l$97,456; '/ $1.98'' 20.000 ^shares ■> -V- 20,182 Federal income taxes , ' ' ■/, Gross income—— Charges against income income $704,605 '/-- 412,008 $549,220 > sales Other income——.—^ Fed. r'? 466.080 495,210 $8Q,82l: $573,943 Oliver H. $674,285 ■•' 305,160 $574,013 Liberty Aircraft Products Corp.~-Sells Autocar Pfd.-r* Pavrie. Chairman of the board of /he cortJoratioh h^s 'na- ' 66,000 7,584 ■■■ $926,754 47,652 . 567,028 716,167 $5*76,031 ;• 151,930 173,900 , $1,349,154 $1,198,150 69,452 ' 57,109 ' $1,385,603 income; > . 183,315? ■•;->;i::v:'-V. $65,967 deductions /280,024 298,381 . stock ($10), $2,913*000; capital surplus, $2,708,414;. $631,477; total, $7,222,737.—V. 161, p.,881., , 4,186,859 171,882 :• / 238,551 315,10/ : and :.:•/./ >-6,000 1,519,793 LIABILITIES—$969,847; . $5,110,459 1,470,259 1942 $2,777,453 - ' tax__A_ paid— maintenance 120,000 • 1943 $7,552;:; total/ $7,222*737. Dec. 22, M5 Dec. 23, '44 etc?— /: 1,610,344 /1 /AL ANCE ings 120,000 \ from income of tion), 122,259 $4.01 Interest : //'■ tl944 // / > $3,187,028 —— profit- ments, 96,681" $1,714,108 income dends. Inc,—Earnings ; 1,750,550 Calendar Years— (D. Emil) Klein Co,, Increase $025,117 1945 $2,905,807 1,888,781 exps,,. "^XSPETS—$^,075,2^11; $591,590 —_i__„__ sales expenses, Total profit V t1 •' v-' ' 1 .• 1944 oper. $500,000; 1,533;268 150,000 120.000 — share /. of Other 1318.. -• , //v//-/: •'■?/,.://• /•'■• '■.'' ■ ; $49,060; p. I- $3,460,749 expenses-/. admin, par)-* ../ $481,163 Operating profit Other Income - wages-payable, taxes, $5,891,562.—V. 'v* l'f $1), $4(9.338; total, $4,7.,7,778. '■: ■;.///: ?'/ 5 •' ■-/•''"•: 1945 Earnings, per share— 111,089 ; 101,305" i...— sales Selling 1945 total, $5,891,562. . Shs. $2,454,887 79,288 116,546 1,177,909 — r $2,727; shares in other companies at cost less reserve. $15,891; cash, S325.089; bullion. '-$44,700;* accounts receivable, $2,110: bonds at cost nnd accrued interest, $161,033; materials and supplies, $107,708; V ,,'^i.yl •' $1,956,211 .• Employees retirement fund miums. in $3,700,672 and Net 1944"5 , ■ 4 ASSETS—Capital -I1' $3,530,924 /Balance, surplus-—/- EARNINGS FOR 12 WEEKS ENDED 213,068 SHEET AT DEC, 31, reserves (par $1,183,486; 1 ../'*'■•> January— Deductions 424,635 —- ' Net $207,099 213,068 stock common surplus, x,t. < sold_^./__ warehouse* and Federal '*••• 848,731 ——J per , ...» $154,611 (after equipment and PM66.-//;//./•:/-.//:/ Dividends 320,937 —i.——• 89,569 . 1 213,068 — BALANCE " $177,691 — ..'(J,,. '/ -V goods Total 30 1,037,841 — payable profits tax 87.381 /• -— y' ' plant - " '*• and -surtax . • of Earned $384,049 60.292 " - .1945 . Number Net profit' Dividends — *•'' profit .■Dividends : • ' for reconversion of foundries, $29,766; $96,980; reserve for employer's liabllit** infc / income^ Other income.,_a__ $1,196,918 Operating pvoflt: Federal, provincial and other taxes. Deperciation 'V// ' ( Federal i./ ; /; .. /// : * of Net and - sales Selling, administrative and- general expenses.— charges; (net) 1 —.i/— l- Interest $1,064,840 ' //:/// 1945 reserve indebtedness, handling : $18,711,572 $23,761,545 .ril5;396;583 /H0;033^92 State income '»-• no payable to banks, $250,000; accounts pavable, and interest, $27,963; Federal- taxes on in¬ . sales Gen. par $100, both payable Mar.ch Payments 011 the common stock in 15. Sales- 1943 > on ':/ •.'/• Leslie Salt Co.—Earnings— Stock, " • $1,189,479 v 31, OCT. : taxes $1,013,836; V" r Selling, dividend of 3C. cents per jshare on usual quarterly dividend of $1.25 a the and preferred ■ Cost>;Of r , propeity, by 163,' Cost 781/ 163, p. £0.—30-Cent . (Co., Ltd.—Earnings— • the profit: reasonable and be to required, be to sales Net a Miscellaneous 1944 considered SHEET, Ycar3 Ended Oct. 31—, ; Westing- large number of mining r'//.''/'":;'//7/ :/V.•/.. follows; June .iT,Sent. 1 cents,—^V. .162,_pt 3075. as 20 $1,086,212 .$1,053,156 9,579 • 11,684 . accrued Month of Net Consolidada's Electric, COMPARATIVE 'INCOME STATEMENT/YEARS ENDED SEPT. Net ■' •: 1945 production interest an ^ ( Years phded Dec. 31— i Bullion be can ..c-c'U ?,'► through the principal amount of new $650,000 of time;, however, this at are believed BALANCE $7,403; (est. i, —V. products and fast-growing division Le Itol Co., West Allis, Wis.—Annual Report— •v.- outstanding 6.'Abonds of the. company issue an b"nHc.\vhl"hU(he management believes and amortization of property, oosts / Lane Bryant, Inc.—January Sales Rose 21.5%-— : - • ' year is Insurance,' $35,000; capital surplus, $762,290; earned —V. 161, p. 831/Z/V . available/eoultv: hetweeu/such'parties. $0.70 tAftor par). of $948,985>, $).,146.piO, equipment installations $135,997; deferred charges, $17,623; total, $4,797,778. covered of fairlv. the to amortization possible the refund assets, long-term ■ •; The directors on the common stock, per said; l-sue of new ($1 stock common depreciation come: Record— a Is for for $967,118; ' increase of an of -steel are the of for as hrueh -* . which customer one accounts Superior District Power its latter the of applicants ■////': • charter to orovide for stated Value a the be transactions:1 .'/JI) Amending Kewancc's -stock 27;294; J / In it Joint application. North American Light & Power Co. and subsidiary, the Kewanee Public Service Co.,^has.i requested SEC of .' ,;■■ ■ The .company's main plant is located in Mexico City—V. ^ proval - of . $0.85 $107,000. charged for //LIABILITIES—Notes The approximately iof $265,819 Co.—To ■ year -nun.bered. of Provision for depreciation refundable progress, in About house. Service for this, of Companies. Kewanee • refund 38,068 . . £/. , other company, leading manufacturer of steel and metal Mexico,; reached a new record high ol' 4,600,000 pesos in previous high was 3,403,000 pesos in July, 1945. Sales January/ J945. were' 2,229,000 pesos. '/"/ " ■: in f "6J24 . $43,976 j' 31,094 / Sales ; , banks.; January. Cr26,181 Netnrofi't 163, .p. 465. 68.226* 468,280 .. ' , $10,600,000, the 'balance dua on the company's paid in, fuil. v At-the end of-The year no money was was 440.338 $0.73 shares 440,338 $134,130 $372,235 $319,633 ASSETS—Cash, $1,081,829; U. S, savings notes (at cost and accrued interest), $886,054; U. S. savings bonds held for sale to employees (at cost), $15,919; trade accounts' receivable and claims under ter¬ minated war production contracts (after reserve of $100,000), $706,322; refundable taxes 011 income arising from additional amortization of emergency facilities, $84,040; inventories, $716,576; investments and $2.80 over products 117,233 ' •' - be . Lav Consolidada, -S. A.—January Sales / /' $489,664 -.$945,173 > 10,333 surtax—/.. to "/■ , Cr96,754 ' $125,073 1 year Shareholders; at the end of the. / -' _ —— /'■•'■■/■' '// ••/? ,:• . Z equipment to 9,765,200 /5,144,399 including $19,737,033 in cash, amounted to $36,848,liabilities WerS $27,513;20"2. ' These compare with $75,573,865, including $21,433,494 cash, and current $24,898,964' a year 'earlier. / ' • / ' /' / ; , . the tOn provision U' 13,466 r: •, and /. 860,000 —— postwar and $476,198 •' .14,374 V $126,435 income /■ $930,798 9,676 35,0Cf 150,000 of;Fed, share contracts war the previous year and the highest total dm record.w ' ' Kroger Stores in operation Dec: 30,-1945, numbered 2,730, a decrease of 166 during the year/": Average weekly sales per store showed an i Increase from $2,821. in 1944 to $3,003. in 1945.—V. 163/ p. 781. • 14,373 y income .Other deductions-— Normal - ■ , -r i .$•} t ' 14,909,599 10,232,408 ■ ■ of assets loan,: 100 297,563 18,596 39,Of : 51,569 125,000 1:963,000 25,171 and expenses for the year emergency facilities. Proceedings under the Renegotiation Act for the year ended Oct; 31/1944/ h&ve been completed and no refund 'of profits was required. Renegotiation data for the year ended Oct. 31, 1945 has not yet been filed and no determination of the amount, if any, wli.rh current During / " v30l;756:* 52,407 21,752 125,000 —i._" (21 1 w'nile bank 17,243 • 106.463 ——— — ycar___—_—_—__^— per amounted Current assets, liabilities of $873,213 $1,385,898 -$890,457 50.014 /; 134,747-' // 102.323 ' $358,12'5 tax overprovision NOTES—-(11 plant $890,949 Baking Co.—Earnings— • • income.i-u-, ■ -863, $278,212' < $1,467,457 tax— & prior deducting Merchandise inventories of 'the company at the end of the year were $42,867,852, compared with' $38,052;582 at the end of 1944, an increase 'of ,7,383,346 1' 32,047 profits tEarnings /_;2—457,332,640 448,381,410 Earned per common / 4,957 $332,213 25,984 _______ ; income Net profit -aDividends paicl sub¬ Palais of : Jiine30 ' 26,571 $1,351,555 , Federal Excess may $8,256,560 $1,353,850 $1,440,886 —: . deductions Reduction -i%&&& profit before taxes-—-.ri—2— Federal- taxes rental-of on Other Normal . .. Net 1944 8,491,648 1943 ? $598,650 266,437 $1,289,569 ; expense ■/• taxes proposal a department store 163, p. 194. C.—V. . vote the of Sales • . . . 1944 $1,810,651 369,765 : ——— /■ ,//■/ ; / Total income • . /;//// /.////; Years Ended Dec.' 31-^- -* ^ V : Vv .V * • -J ■ ■ $9,845,498 $273,255 next, 1, —_—$9,918,519'/$3,027,570 —— owed mon of 162,- p. 2944.... ; / current • —V. surrender Kroger Grocery Ss 1945 2.015,880" ; Selling expense —U^/ Administrative "expense /; •' called Washington, Sales , /"Gross profit from, operations——!. / has » • ■ . 61,985 profit income r "Loss. outright Years Elided ■- Operating < 'Lx Interest of ' «•_ $2,289,135 —— display- equipmcnt and sale of supplies— ' ,, -J ^ . Pyoflt *•* V/ • $249,268 Other (; • y 1. •' ■ and June 23, Increase Kress & Co.—January Sales 9.9% Higher— Month of January— /• /' • ;1946 ,•/* 1945 /. Increase ' for paid STATEMENT July 1,'45 to — ,.:V.: Gross 1945 { to 394,293 Selling & administrative expenses— (S. H.) a * ,} , ' iCost: of goods sold——— tJ-, .'i. y, stockholders, Royal, the into share's for Oct. 20, '45 sa.es entered y to shares INCOME 1 - has two-year installment contracts. - , ; agreed on ' ! ; 1946 ' • 1946, Years Ended Oct. 31— ' ../ 1945 Sales,'less cost of products sold_„$1,683,862 1.7%— ///■'/*'/ She ; and stantially Urbanek shares. to agrees CONSOLIDATED .-Net of each January— 313. company The being outstanding stock of which is owned, by to purchase 18,133 common shares at price of $G per share, of which it has agreed to shares :Pt the same price" to eight members :of the" •and 4,100 to be sold t by 2,000 increased $10 par Lakey Foundry & Machine Co.—Earnings— surplus, 1891. p. its stock cn a 4-for-l shares; prior to-the splitholders of record Dec. split company the old ,' Payments last year were as follows: March 17 cents each;>and Sept. 13, 50 cents.—V.T63, p. 653. • earned the share on Jan. 3, Proposes Sale of Palais Royal in Washington, D. C. 10,500 are the has /management personnel, ' A. The 10.500 shares //.///.//v cumulative preferred shares. Kelling, public offering tell 14,000 cqmrnon "| and Co. PARTIES—Mae such •the \*\ -if &• / 4,250 of p. sentation 10,500 4,250 for investment*. of Corp., •Robert 12,500 .. 162, $29,295; December 25 cents per 1945. 8, •25 outstanding 4/i> convertible first preferred stock at $110 Der share and dividends./ Immediate payment will be made at .the Manufacturers Trust Co., transler agent, 55 Broad St., New York, N. Y., upon pre¬ V, • Com. Shs. A such 4,000 /. number ■ $2,953,711.—V. surplus, Kresge Co.—January Sales .t-dV.■ ;.(• capital In 2. was up. Kresge Department Stores, Inc.—Calls 4% Stock— (Krejsa) presently own right, 336 of the presently outstanding 6Va^ cumu¬ preferred shares and, as trustee for her two children, an 152 under RSK ■ the 4,250 - shares common SPECIAL and 4,250 — Co & by Kebbon, SALES — a 44,000 .other underwriters, lative Co.————_ Co.u ! 210,000 shs. Pfd, Shs, • - , March 'basis and the last diVidehd on accounts „——-JSl.r $14,374,227 v: $14,124,959 — —v.. 163. 19,600 shs. > 250,000 shs. Company—- above /purchased & • - total, Month Sales ' ;. ' - .. $1,041,713; pan, (S. S.) ; retained •;//:/ no $552,152; ; Outstanding 19,600 shs/ - par-),' McCormick Milwaukee Of being / : Authorized Bacon/!- Whipple & Parwell, Chapman shares, The sale by the company of (a) ($20 par), now offered, Jb) RSK Corp. at $6 per share, and as an investment), is as follows:1 ($3 re- principal (2) to now of plan $74,105 payable, $651,117; income, payable 1946, payable, $157,565; Federal taxes on $299,196; other taxes and expense's accrued, $29,274; account* payable, wholly owned subsidiary, $18,401; reserve for contingencies, ■ $175,000; common stock (83,337 shares' par) ; > foregoing LIABILITIES—Notes ■1 Z,':t UNDERWRITERS—The names of the underwriters shares to be purchased, by each are as follows: •• of • the to pfd. shs. ($20 par)—- cum. (after reserves for depreciation and amortization of. $181,905),/$115,485;^ total deferred-assets--$60,345-; *total;. $2;953,711: " / * »> ••• ' shares/ shares,,will bo common' ; ' redemption ' - Common stock • effect The preferred /18/83 6 f* shares. ,' common 6 Vafr cumulative 869 14,483 preferred plan the outstanding 128 common shares have" been changed into 100,000 common shares (par $3). capitalization < (2) for second, the and capitalization, ■'•"/< c) exchanged non-cumulative of fixed boxes, assets'- :?r-; " r' - Total • ■ • • — •* •' -i* « /-.'v, ■" '■ '> v. *•*•' ;/,/ $6,656,728 , WW * ■••*' •* $8,255,978 be from 180,000 disposed" of on shares stich to .200,000 shares, the additional stock as'Ih'fr stockholders-determine terms at ttf the w New r Tlie capital "VI Stock to Receive 7 directors stocky have (par ''c'ared $2.50) a Cents—tVJ*' rliviripnd payable nf 7 March'12."to •■■ ! :r \ cents meeeting. • . f pc* share holders ••••*.■• of . on t*; the record ' -The to ,t., stockholders provide 'for ' tcf ten and an to*elect will alfSo increase an . Vdt'd in additional . on an amendment "to number the of- director's- tlirectur.—V/162, p. by-law/ from 2819. ' nine* ^ 'ZV "y THE COMMERCIAL & FINANCIAL CHRONICLE 906 p I;:; •'Mnrirlav. F*hrnarv 1 ft. 1946 | Monday, February 18, 1Q46 :V-'.'''' WV, ' Corp.—British Contract Announced Lockheed Aircraft swift five was Lockheed Aircraft Corp. Manager of The five planes, , ; 5 Mass., in connection with this acquisition. * BOAC is« the sixth major world-airline to buy Constellations for : runs. Others are Air Prance, American Overseas Air¬ lines, ttt.m Royal Dutch Airlines, Pan American World Airways, and 'Transcontinental Western Air. The .Under .the has purchased the total capital stock - of the Engineering Corp. of Los Angeles, Calif. It is planned to merge Pacific with the Airquipment Company recently organized by Lockheed to manufacture ground handling equipment, H. E. Ryker, President of the new subsidiary, announced. The new organization will be operated as a wholly owned sub¬ sidiary under the Airquipment name. The new products will include hydraulic jacks,, hoists, and service tools.—V. 163, p. 781. corporation Loew's, .Inc.—Annual Report— its and merchandising and to acquire be deemed, ad¬ facilities acquisitions such as may .. The . management states that the » tends to increase :v.-.:' ■.'.. > 4 Inden- 4::T'.-4 . of consist '•< " ' , ———Years Ended Dec. 31—*—* Oct. 31,445 ; ' - FORMA EARNINGS Electric revenues- 977+838 -14——— Total $3,479,678 Operation 126,706 Depreciation— : "State, local and 320,659 miscel. , State income taxes— income Federal • JPed. exc. ^ , taxes prof, tax income 891,501 $3,224,789 1,398,887 122,189 309,914 $3,009,978 14169,713 .112,837 294,925 , 325.89764,534 205,000 __ 342,825 62,151 :>•!: 56,721 205,000 / 203,000 321,567 1 . . $462,928" f; 241,900 $481,40r 25,943 $474,741 11,082 $466,153 14,727 $485,823 r, .21,886 (net)—- 354,122 $ 51,979 > 203,100 |net)r ^ 438,900 \ ,! 396,500 ^ . 325^00% Operating income---- Other 928,429 ' " Federal taxes——-x 947,449 4 $3,418,454 1+506+425 131,667 320,402 1+535,054 ——- .Maintenance—.———: \ . 1942 ** $2,118,477 1943 $2,296,360 1944 $2,471,006 $2,501,840 revenues--— oper. $480,879 K $507,344 12,118 11+085 8,732 ,$469+794 $500,612 ; , .During the United to approx- K volume, in )944 to about 27% of the total Oper. of theatres and . and in .1945 .to office buildings (incl. ' ££ ■ approximately 20% of total volume. It is anticipated film rental exp.48,011,731 45.134,25240,894,055, 35,458,909 5 .that the sales to the government and its agencies.in 1946 will be- im¬ material In amount. Oper. of film distribut. 16,939,025 15,748,022 14,137,010 12,759,407 During the period of substantial sales to the government the company maintained and expanded its selling organiza¬ Amortisation of films-i^ 56,563,109 ^49,859,667. 42,168,335 44,780,348 tion and the termination of sales to the government has not resulted Cost of film advertising ' ■ -■■■'• ■ ' '•• in any reduction in the volume of total sales. The company states accessories 547,537 V4Q7,662 U 357,227 -/ ■ 514,013 v that at present it is unable to meet in full the demand for its~ prod" Producers' share of film : rentals 2,686,537 2.887,121 • 4,277,235 .3,165,540 . :ZZ£-ZZ income Total - ($100 SUMMARY vOF PRO goods' capacity through • quisitions. At., presentthe company is unable to-secure sufficient supplies of grey goods to .maintain normal capacity operations at the Rock Hill plant." ' ' , ,cl 4. ■ the in contained restrictions :yyy ;;:T:,^ZfZZf:i;Z§l|n;Z4;44;'%-:4;4T2M6^'End.v4^t4-4- has capacity for of the capacity and that it. inadditional plant ac¬ grey the 1946. v of grey goods to meet approximately 21% Rock Hill, S. C., printing and finishing plant, its of of Jan. 1, outstanding now company production as which may. at any one time, be. outexcept that additional bonds, will be issu- with the sale of bonds of 1976 series, the outstanding 30,000 par) common stock will have been changed into 187,500 4: shares of $16 par value common stock and 89,305 addi¬ tional shares of the $16 par value common stock will have been issued 4 shares Gas oper. sale all 3eries unlimited accordance .tPrior to < .. " - goods. Approximately 90% of the company's cotton fabrics and the balance of rayon fabrics,' 1 . Partly-Owned'Subs, and Affiliated Cos.) : . .'A, 194^ , '1943 1942 Theatre receipts, rentals $ $ ...*£* £*« i & sales "of films, etc. 169,177,022 160,604,311 152,203,111 130,052,920 Rent'income—: —3,118,778 2,778,3812,631,077 .2,457,388, Miscellaneous income-. 3,239,118 2,556,836 » 2,402,757 :, 2,070,553 'Other income * 643,765 717,233 /;: .690,415 631.219 —- when piece .. Wholly-Owned and (Incl and finishing goods mills li , The company and tts subsidiaries process raw cotton into grey ] goods, .convert and bieach, print or dye cotton grey, goods and rayon greige goods into finished cotton and rayon fabrics and merchandise >uch fabrics to manufacturers and to outlets for the sale of finished;; ? FOR YEARS ENDED AUG. 31 CONSOLIDATED INCOME ACCOUNT producing, grey visable. . „ " Th'e company 'proposes to use the remainder, of the proceeds of the ,, offering of preferred stock in connection with its program to expand; Pacific , ' r ture.'.dated ■ . Pacific Engineering Corp.— Acquires Capital Stock of , standing will be able only in of The the land, to "Amount of bonds of - v terms allocated was . Common stock contract $1,700,000 oi the purchase price buildings and machinery, which valuation was accepted by Lowenstein directors, antf $1,300,000 was paid as- an-^ advance against the inventory of the Huntsville plant, subject ' tocheck and valuation. No payments were made on account of going i concern value, good will or other Intangibles.. ; ' 4 trans-Atlantic .The -4.1 . Authorized Outstand first mortgage bonds, 1976 series *"*•"■•.' $4,500,000 (par $16)——4-444-44—300,000 shs. ' t276,805 shs. 2%% }; purchase, of the mill property of Merrimack at Huntsville, Ala., and a brokerage" commission of ,$80,000 paid to ..Crescent Corp., Fall River, $3,500,000, will -be de* livered in May. ;;''4444"'r-;4-4-'4 '-;.444"44'/ • $3,080,000 of the proceeds of the proposed sale" use 49,017 shares of preferred stock, series A, to reimburse its - treasury the sum of $3,000,000 paid on Jan. 14, 1946, to Merrimack Manufacturing Co. of Boston, Mass., a non-affiliated company, for the for • costing a total of more .than • will of Aircraft < The company ;! ; Constellation transports to the British Overseas Corp. for use in transatlantic service starting in the summei announced ,on' Feb. 11. by .Leonard K. ..Schwartz,: General Sales of Sale • * CAPITALIZATION, GIVING EFFECT TO PRESENT FINANCING (M.) Lowenstein & Sons, Inc.—To Expand- 157,927,360 135,212,080 »' 1 '' ■ ' 176,178,682 168,656,761 , . States war Government imately 23% the years substantial sales were made to arid its agencies, amounting in 1943 its of total income $484,814 ;Misc, deductions—— .,18,063 Gross ■ ; * , Balance avail, for int.'!* \ , ' long-term on ' The interest $466,751 debt- -.$473,706,.- requirements on $4,500,000 principal amount of. 2Va'/o bonds, 1976 series; will be $112,500. first mortgage ) , - . HISTORY : . ——. and admin. exp.— Gen. to Contributions taxes Int. leased on 8,844,229 and Loss bond- of / ■> assets discount & foreign, film sions •- ments? and Pref. divs, advances- subs, — affiliates "f • and Net undistributed partly owned . Gross 15,786,584 1,976,661 Other 559,974 v Federal . I" . 35,044' Net profit Preferred Common * 101,271 62,028 94,862 9,323 120,086 12,913,369 14,517,256 368,619. : — Shares Earnings (no S-~/- ?tock bonds •On claims . 5,055,327 on 6,710,689 6,672,287 debentures excess ■ « 1,675,213 retired. ! ' , Earned >• ' earned per tAfter . - ASSETS—Utility, plant, 541,076 ' >,1 inc.! ' —-4-^ prepayments,.$6f707;TQtai. S14,256,331^, , 300,000 C 4 ; $2,751,477 ' '317,976 $8,65 — ASSETS— ' ' hand and demand $375,938 "317,978 317,976 carryback ' Accounts Excess receivable, trade and others ; A,340,103 .V— ' miscellaneous, 529,938 for depreciation, for injuries 12„Months Ended .Dec. 31— Gross revenues - >- ; $25,628; $18,800; reserves, surplus, ' v Lynn Giis & Electric Co.—Annual Report-4rf ^.41-v cost-plus contract 131,324 Amount due pursuant to claims filed for Govt, .'T- contracts and subcontracts Terminated^—1,027,598 on and $2,168,218; |otal, $14,256,331.--^;-163, p. 781+ 621,334 4,419,368 .6,856,075. 2,115,472 profits tax refund bonds 44— Unbilled costs & accr, inc, $1,927,392 . ■ , $27,553; deferred credits, $3,590,839; maintenance reserve, damages, $96,870; miscellaneous $33,217; contributions in aid of construction, $367,793; earned Oct. 7,'44 4, —; Inventories . $14,269; reserve reserve/! $i;796,494 — / LIABILITIES—6 % % cumulative preferred stocky series A' (paf $100), $1.18 Oct. 6,'45 v deposits in banks And, on .hand* receivable $309,420;, $500,000; common stock (par $100)+ $3,000,000; 1st mortgage _bonds; 4% series, que I960, $3,400,000; accounts- payable, $47,852; accrued payroll, $14,815; due to affiliated companies, $19,204; customers' deposits, $32,436; accrued general taxes, $258,535; State income taxes, $56,250; Federal income and excess profits taxes, $586,049; accrued BALANCE SHEET U, S. Govt, obligations cash $12,285,684; .(less ' interest, Cash on , $7.02 CONSOLIDATED BALANCE SHEET, AUG. 31, 1945 1943 1944 s $5,829,961 1945 + -£ —^ — $5,683,216 $5,494,383 2,579,550 364,880 694,242 571,244 * 'Operation £.i—2,744,156* 2,839,361 ASSETS—Cash, $28,123,335; U. S. Govt, securities, at cost, $6,730,000; Maintenance u——. 1: 490,68T; f 430,773 S. Wat Savings bonds, series F (current redemption value), $7,1 Estimated refund of Federal taxes on'income, ,*.•< Taxes, other, than Federal income— 629,260 697+749 foreign govt, securities, at cost, $1,016,387; notes receivable,« '.. net of .allowance; 1,.^ 2,540,000 ■ ■ —-4--. ■ Federal income tax———— 677,000 709,321 $42,973; accounts receivable, $4,854,606; inventories, at cost, $72,494,Property, plant and, equipment (net)J.— 7,424,401 T,586,985, 751; due from affiliated corporations, $56,375;' mortgage and interest s Due from the U. S. Govt, for construction t ■; Balance for dividend and reserves $1,142,113 $1,152,757 $1,191,467 payments, $6,813; net assets in continental Europe, $850,798; invest- w of industrial plant facilities' 819,000 747,779 1,275,623 ments and other assets, Dividend /£-££££^^--£i-j££ii-4./', $13,675,510; fixed assets (after reserve for 819,000 819,000 Prepaid and deferred accounts 440,671. 243,880 428,102 2 Depreciation £— 349,325 4 •345,944 depreciation of $31,857,169), $68,473,007; excess of investment over Postwar excess profits tax"^credit ' " 529,938 book value of subsidiaries on consolidation, $801*454; prepayments and CONDENSED BALANCE SHEET, DEC. 31 Other miscellaneous assets 4 131,464 , I 100,429 general, $1,967,950; preliminary and development expense (foreign), 1943 ASSETS1945 > ' 1944 $335,832'; total, $206,940,441.. r 5"%". Plant investment ——————^*$I9i913,779 $19^554,331 $19,631,12T Total $21,028,453 $23,745,246. LIABILITIES—Accounts payable and Other .investments j*. accruals, $7,787,011; accrued 492,777 664,566 > 704,000 :i;v interest, $183,912; domestic and foreign taxes, $17,370,259; due to Cash j.--' i;0l3,374 ■ 1,350,670 . ' 982,696" Notes payable, bank v— foreign banks, $833,413; due to affiliated corporation. $9,424; securities 4—1, $1,200,000; $3,000,000 - Accounts receivable (less reserve)— 316,453. v 362,693 ' 373,114 from tenants, film rentals and other deferred credits Sinking .fund ^-£414^—1—" 1,430,455 Interest .receivable ——s———— ^ $779 619; pre¬ :1,909,159. 1,414 jS*?*- 510-7a'v.«i£—£; U. . ; 510,650; , , < - - „ * . ' -—— — LiABiuTiEs^S;;!iSoi-;-l%"'':%#vll^|" received on debentures (net), $610,408; reserve for general contingencies, $2,021,774; funded debt (incl. $2,684,467 due within one year), $46,053,185; wholly owned subsidiaries' preferred stock, $1,041,300;. common stock (5,055,327 shares, no par), $44,609,051; earned surplus, $85,641,086; total, $206,940,441.-—V. 163, p. 466. v mium Lone A Star Cement special offering of 11,000 shares of caDital offering at $70% per ,share with was withdrawn Feb. 9,—V. 163, a stock (no The company has called shares of 5% cumulative San and dividends. Antonio, Stockholders affected.—V. owning 162, p. will be more at the than 1285. 50 of this stock are petitioned the Massachusetts Department of Public authority to issue and sell at not less than par bonds and notes of $75,000 principal amount, bearing interest at rate not exceeding 3'/2% and to mature not less than 25 years from their date. Proceeds are to be applied to payment of a like amount of outstand-' ing indebtedness of the company. for asked ,the Commission to approve a change in the call rate of issues of notes amounting to $950,250 and $50,000 respectively, bearing interest at rate of V/2%, which were approved by the Department last year but not sold by the company. The call rate is 105, but the company seeks to have it begin at 109 and be gradually reduced to 10014. The offer Commission is Informed from John Hancock Mutual that the company has received an Life Insurance Co. to purchase the —V^ie^p^OT^' hm-eV€r' -W .the change in the call , price. and awards— ——— ( -£—444-4-44-4—44^—44--4-'' 4" '26,657 -/•; '"y 4. 3,279,760' 3,760,209 -4—4-4-444--—4—44-4--4%4 6,792,802 : !' -v'-vr>' ■ • . ■ ,, ,.96,851 , ' ' -Z— - 565,917 ,107,554 .76,196 93,947, . . $22,269,2H$22,583,441 $22,434,552 : $4,095,000 .$4,095,000 6,149,731 6,149,731 1,900,000 2+200,000 — Profit' and !;■ I . 4. loss_r£ —- ,—. . 765,483 38,367 5,680,540 91,912 ■ . 25,208, 5,936,096 94,031 2,025,764 "1,080,640 1,026+482 ., 204,221 30,822 —_ , 229,773 1,019,812 21,771 £ * , 3,760,209 4,714,634 DrlOO.OOO " • ■> 4 • • •' 37,565'..: 3,279,760 (par $10) -—-44-—1-—; 'surplus _4_4——-^44—4--4—-4——-- ' — Notes 1,275,623 52,681 1,063,000 763,000 — ' 24,047 Premium ; 47,840 - 402,794 86,354" .66,567 .94,956 v "C 73,057 Capital stock, —1 \ $4,095,000 on capital stock——— 6,149,731 payable 1,600,000 Accounts payable 197,715 809,370 Tax liability Interest. accrued 29,057 £ 31,212 Other, unadjusted : credits—_££-_ Reserve for depreciation— 6,208,779" : Insurance" arid casualty reserve.I-96,100 2,025,764 Surplus invested in plant-— 1,152^000 . —— LIABILITIES—' . 500 000 .2,025,764 1,158,325 TotaiL—:_—^-_—-L—-———,$22,269,2 ll;$22,583,441 —V. 163, p. 314. ' ' ' " $22,434,552 r—^21>028^ $23,745,246 ' - Manhattan Shirt Co.—Earnings— \ ' Feb. 8 .by Harris, Hall & Co. and Drexel & Co.* 2Vz% firstZmortgage4 bonds, due Jan. 1, .1916, at $102.25, the price to yield" approximately 2.39%. The issue was awarded Feb. G at competitive sale on a bid of 101.56. APPLICATION follows: (a) To OF " redeem bonds, 4% PROCEEDS—The : ■' the . outstanding series, due 1960, proceeds .• . • $3,400,000. first willbe : applied' as - per share '— .4; •■(c) To.provide additional iunds in the company's facilities-: — General and admin. £ iS expenses__;£-£_ • ^ 1943 $1,436,467' $1,076,393 , '$1,347,401 paid other.deductions— ! Normal income tax— Interest Excess profits Cr30,496 295,731 tax£___—-£££—r££-;: Crl8,995 ,! ■ Cr22,322 300,000; .277,410 ; tp67,000 T 584,010 : $521,986 $574,779 ; 318,000 " ; 525,000 ,.'. treasury —.— ' Net income .$493,158 Amount reserved for contemplated in-„ —.—- ' $14,716,481 12,102,386 * 72,691.:.)62+605 52,949 713,222 786,697 ' 815,854 376,282 '; i 307,519 '308,825' :• Belling "expenses mortgage at 104.5-(exclusive of terest accrued to the redemption date) 4, $3,553,000 (b) To replace in the Treasury of the company funds (excl. ■ Of accrued dividends) irrevocably deposited to redeem 5,000 shares of 6%% preferred stock, scries A, at $105 4,. 1 *4 for expansion of Depreciation .4' - 1944 ' , Net sales, less cash discountS-i--— $14,703,868 $15,639,332 Cost"Of sales.——12,465,280) -13+135,110 . of"$4,500,000 .'1945 Years Ended Nov, 30— Madison Gas & Electric Co.—Bonds Offered—As men-:. tioned in our issue of -Feb. 11, formal offering was made (Inc.), The Milwaukee Co. Program— The company has has ■ claims (Ky.) --Weekly Output- Lowell Gas Light Co.—Finance also reserves Earned surplus '• 'Total 470,000 : - - ~ Capital stock, Capital ' output company Contingent - ; ^550,000, j. Treasury^ stock (10,000 shares) ——-—44-—BrlOO.OOO of this company for the week ended Feb. 9, 1946, kwh., as compared with 34,670,000 kwh. for the cor¬ responding week last year, a decrease of 23.6%.—V. 163, pp. 781,.654. The 4—4 337,459 , 1,066,511 ; 789,967 payable, Other reserves not totaled 26,505,000 Utilities advances . Materials and .supplies.——-. Prepaid1 .accounts ————' Other unadjusted debitsInsurance and other funds—— -—44, 1,401,103 • - wage Workmen's compensation - --v.':- v.,/.- . dated AprU Note payable, •• - shares ^ debentures, 1952 ——4i—-Z—^ ' ZZZZ'-Z bank, .under .Loan Agreement ; ^ 30, >1945 ———-,4—44-'' 800,000 bank, for industrial plant facil., '" ' with collateral (contra)" 4-4—444.4— ""747,779 Note company's office, . Louisville Gas & Electric Co. Electric made for "163,000 ' 31,798 4%% was redemption on March 1, next, 3,175.64 participating preferred stock at $103 per \ wages/corporate taxes, etc. claims for defective "materials adjustments. Provision for estimated "addiWoinal Fed. taxes on income for prior, years "44U-—4—_J4-—_ for Payment Texas. ,-—-4 908JL87 - & and retroactive . ; 654. p. salaries Provision ■ commission of 85 cents.- Longhorn Portland Cement Co.—Partial Redemption— share Accrued Contr. par) payable, Trade and others—' Dividend payable, October 20, 1945-.—4— Exchange Feb. 7 by Smith, Barney & Co. and Estabrook & Co. The Accounts Corp.—-Special Offering—— made on the New York Stock >. OCT. 31, 1945 $959,208; U. S. Govt, obligations, at cost, $500,000; accounts reserve of $22,827)," $191,312; materials ahd Supplies, J ,, " 111,292 share 38,774 " inc. surplus. BALANCE SHEET, •Loss. 1,665,713 • $8.01, deducting profits credits in amount of $484,377. . | UNDERWRITERS—The ' names of the several underwriters and the principal amounts of bonds, agreed to be purchased by them, respectively, are as follows: ' •« « ! Harris, Hall & Co., Inc.$1,500,000 The* Milwaukee /Company—- 1,500,000 Drexel & Co——w-*.—— * —i-*— 1,500,000 " $955,789 upon CONSOLIDATED . $8.01 ' " V 136,943 " 1 surtax—— 1943 Federal taxes, on Income transferred to Dividends paid 4,997,086. ^ $2.56, the company'supplied electric service to 28,081 were .located in The City of Madison, 1,740 &nd j>t209 in,the.towns. 1 .All gas distributed by the company .is manufactured gas with A heating value of 520 BTU per cubic foot. At Dec. 31, 1944, the com¬ pany supplied gas service to 19,984 customers of whom 18,400 were located in the city of Madison, 789 in The three villages and .795 in the five towns in which the company furnishes gas. ' ' i $818,846.. $41,477 ' and t 1,685,109 * ■ . — and to due 12,132,606 442,071- - par)— share per common. ; 6,951,017 stock out- com., standing ^$50,485 1944, • 41,314 —91,962 ; Number of shares of stock 13,422,853 ' (cash)j.^ 113,4^8 ^ zJ;'- Prov. for ^inven, losses & majin. restored to ' ——„ S - V 7 • ; carry-back, prbvision!.of the'In' * : 1' ternal RevenUe Code w^jt';^4ti^i.-^^^''Cr2,4ld,000 > . 109,212 120,851' dividends divs. premium - ; 1,245,886 ' 374,461 — normal based ' . and exp. ——- (net) Estimated refund of —" 286,556 and 31, customers of whom 21,132 in the four villages served by The company _ 1,235,931 125,398 State- Income Tax—-—. 660,265 ( 89,103 , 31,'1945, 71.9% of; the cqm» from the electric depart¬ — 275,829 corps— profit 1 income Total income , inc.-— disc, "bonds redeemed on 4,955,851 , q- t debt 105,000 - etc.— g;? ' ; - - —— Miscellaneous deductions retirement plaii__L_ and amortization— Dec. At STATEMENT Oct. 6,'45 debentures, notes payable, paid in 1945 3,270,664 ■ ——— on Amortiz. .of ^ 549,920 ■ 12 months period ended Oct, pany's-total operating revenue was derived ment and 28,1% from the gas department. Subs.)—Annual Report— (& * 3,429,034 5,453,286 • 606,438 Interest 1 ,< 409,401 3,358,590 8,103,346 4,837,579 (3,444,660 Co. Contribution to employees' Provision for depreciation - ..v • ' invest- *' of * < 7,038,341 * Write-downs ; ■ — . 3,273,728 exc. * * . profits taxes- ;V Minority interest share affiliated corporations Fed. —, J.V'v,'.>*:•*i -—. —-— retire, of bonds upon i '■, vfi'.;:«•*'-k—~-XT \ Depr. of bldgs. & equip. income taxes— the 1945, Oct. 7,'44 Sales, net of discounts, returns arid allowances $45,243,988 $54,576,770 Cost, of sales-J J 41,675,154 49,935,419 Selling, administrative and general expenses.,2,039,551 2,160,842 ' ' 638,289 Federal 2, 52 Weeks Ended 297,105 ' 774,692 1 ver- offleaseholds of 275,335 . '954,930 charged Adjustm't Nov. CONSOLIDATED INCOME - + . expense. Steel 1,262,134 1,204,967 257,672 .618,753 - to 1 - 1,253,580 - 1,417,011 : Jan. For ;the Lukens .513,809 .«• bond paid & : - fixed ' 7,824,391 3,428,354. , 515,313 * ■ .977,801 Additional franch, taxes •Premium .. 472,187 520,706 , disc't of .8,916,675 3,477,303 period < 4 . 208,688 expense sale on Spec, ' V - the corporation had consolidated sales and finishing charges of $41,816,130, and a net profit of $1,435,124 after taxes of $3,789,20O. - The sales . and finishing charges for the year 1945 were $49,731,354. the largest on record, and the net profit was $1,717J986 after, taxes of $4,342,258.^. 163, p. 654. — i'"-* 8,452,462 3,528,121 . 3,507,153 prop.- payable (Loew's, Inc.) Inc. on bonds, mtges. and notes payable Amort, - '' and notes debs, on 3,140,733 : - - ——- For r 3,341.585 , 2,173,084 2,419,965 - '■ - . other and estate Rent em- plan./ retire, ployees' Real 2,614,347 2,473,574 . AND BUSINESS—Company was organized in Wisconsin April 8, 1896, and has perpetual existence. It is engaged in the pro¬ duction, distribution and sale of electricity and manufactured gas in Madison, Wis., arid territory adjacent thereto, entirely within Dane County, Wis. The electric business conducted by the company was started by a predecessor in .1892, and the gas business was started by a predecessor in 1855. The electric and gas properties owned by such predecessors were acquired by* the company upon. its organisation. ,i 492,200 ' 12,000 12,000 ,42.000* $481,158 $509,986 .$562,779' pension plan -Zr. Balance Dividends Shares ot. common stock Earnings .per . TAfter postwar credit. -Z—., .. 260,134 , 208,107 (par, $25). " $2.31 ' 260,134 ,260,134 " 208,107 $2.45 ; 208,107 $2.70> ' ■. , .i»" '• • •y'/^':y ' x * Volume 163 vV-5 :U,•• BALANCE SHEET, NOV, 30 : ASSETS—Demand U. THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 deposits in banks and hand, on (customers), $5,713; accounts receivable accounts and discounts of (after allowances for $1,007,470; $200,000), and profits excess "SEC 120,000 covering Vfy'* kk'-k / The " •, surplus;, $5,333,791; total, $10,352,031.—V. 161, p, 88l, tion': of The production t of Built be the directors with March The • to have Eversharp, about to directors Eversharp and act of stockholders approved Inc., 15 Magazine that the called the on announced stocknolders' ; • -7 company Co." also will preferred stock. Razor • propose - stockholders' meeting for a Vote oh the merger and also to approve a threefor-two split of Eversharp common stock. The merger proposal provides for exchanging built ■ . ' ■ All For net 1944, net The National City special Feb. meeting of. 21, according to and .General Manager. recommendation of stockholders common by announcement an D. C. been called War Everest, President increase to number the of :; for > annual an capacity of about 11,000,000 pounds suitable for such items multi-colored as garden hose, hospital sheeting, wristwatch straps, fabrics, handbags, large meteorological-type balloons, tubes of kinds, serving trays, surgeon's and industrial gloves, "rubber" . trialization , many heels. Hundreds of other popular Items are projected as fields for use of the Division developed a new type of shoe soling, in one form much like leather soles, but far superior in wear resistance and completely impervious to water. These soles are expected to increase shoe life .(greatly., ients, will the renter Their from vary field with obtained t\jMf- v" „ by * ■>*" the resistance possible ' » addition v.' ' ( * of -and other unusual - K-• 4 A ^ K VH- ' rl • years Cummings Fire & Marine Treasurer Insurance and General Uxbridge,- Mass. —V. 163, p. 195. has Co., Longmeadow, Manager, Mass. Uxbridge been- re-elected for term a J. three Jan. 9, 1946. there company and shares at the its Montreal Stock value tion Inc., years. subsidiaries rights u of the total number shares of ending on Jan. 8 In & 1949, Rights to purchase a sold . and . to to 1948 1947, each of and in 1949 not the 115,250 three and ended - than will expire -on officers Jan. ' further 4,750 unissued employees as may shares common be be may designated, from time Application for the listing of the 120,000 additional common shares Jhas been made to the Montreal Stock Exchange.—V. 163, p. 781. , ' hopes company . ;■ place also structures now being used in Miami, with its own carbon dioxide warehouses. • The corporation produces Norfolk soon and to Edgar of P. War City Foun¬ Commis¬ Forest ' James are! W,: Douglas Gorton • 7 Z Dec. \ Period End. Dec; 31-^ 71945—3 Mos.—1944 stock Midland of United t '>\ i Realization, and Co. \ Gordon and sales before Prov. for 92,607,477 taxes Fed. k—taxes—. 3,007,673 successor of tl>e $1 par Earned per com. " $2,358,060 share 4 >;;• $1.31 $1,187,602 $4,050,485 $0.61 $2.22 and - William J. Murray Jr., ended of was 1945 Federal the for stated 1945 30, passed,-It taxes current Sept. that fiscal year had that were been quarter will be on , since in covering 1945, it: decided so that the to each quarter's date.—V. S ^ earnings of -• operations follows:- • / The new stockholders preferred 120,000 of the on stock new Feb. and 5 to preferred voted lead and ;; Vice . of is "k: ; to authorize waive pre-emptive and to 150,000 shares purchase 100,000 of . is ' , ' ' 1944 ' v 750,000 tax At the to for the , , " - : 120,175 138,968 72,132 7 425,000 29,677 - 42,870 425,000 credit) • 68,965 . 1,785,000 2,190,452 ; $1,025,394 424,792;t i. ;; - 424,788 ;-$3.43 $3.92. for v $1,080,352; / » United States <. v ,[ , Government tax assets, and for renegotiation rebates, from arising ac¬ $182,969; $87,588; ended Nov. 30, 1945, $750,000; payrolls and other com¬ and taxes withheld therefrom, $415,696; deposits by employof war bonds, $40,437; taxes, other than taxes on purchase . $83,257; dividends $1,968; stock ($1 Federal par), sinking on the but be will tons of zinc closed . down until normal time such development, /'• A " * h , Porcupine started done no the at in property, the present mineralization of in which future. near time on a Important ' ; at the common 600,000 • directors "announced outstanding dividends miscellaneous surplus, $11,720,654.—V. 162, current (net), $45,636; $2,130,874; earned and pp. ; 1772 " ■ , , 138; "V ; that 7V2% $10 of the' company on Nov. 1, last,v redeemed all preference stock at $11.50 per share and par share.—V. 159, p. 383. ; (G. C.) Murphy Co.—Proposed Stock Distribution— The - Options ' . favorable has been • The from - • - . , ■ - 150,000 to make stock the the , number split possible, he -. 466. 53,006,899 1946—12 Mos.—1945 45,633,255 704,686,754 663,519,316 . „ amendment to * the Articles of - stock be not quoted common further .notice.—V. 163, p. said dis¬ ex 782. Industries, Inc. above.—V. 163, p. 782. : National Investors Corp.—rAnnual Report— r The.good- results achieved during 1945 increased the asset value of the capital stock from $8.19 to- $11.89 a share. After adding back 39 cents paid as a capital gain dividend the increase in asset • value was > 49.9%. • INCOME STATEMENT FOR CALENDAR YEARS ^" ' 1945' ■ divs. Cash General and Interest income expenses $422,065 tration 1933 Taxes '. Net ; paid "Exclusive of cash in and - „ (at cost), 6,552 *359,099 368,927 banks, $7,575,338; receivable, etc., SHEET DEC. $760,373; 31, tntol $11,104; • 380,456 in common receivable for capital stock sold, $9,205; total, $8,410,619. stocks, $65,702; divi¬ $113,855; due for capita! for retirement, $26,647; reserves for expenses, taxes, capital CflamfilQ 6,883 $380,030 1945 investments LIABILITIES—Due for securities purchased, etc., >/' of which $221,124 stock. dividends of $562,424, (28,418 shares) in capital BALANCE in - 655 $360,096 capital gain $341,300 k ASSETSL-Cash dends 2,653 __ «t « 444 $356,269 (other than Income taxes) 60,593 ; ... 1,210 . 1943 $448,165 56,478 r • income Dividends v / Act;, of Securities under 1944 ■' $423,570 ?:'; .61,933 ^ f..:;,; Expenses in connection with regis- stock repurchased % an Feb. National Candy Co.—Merger Completed-— to U Montgomery Ward & Co., Inc.—January Sales— Sales 1946, on value, Feh. 26,'1946. See Clinton" on 1946—Month—1945:" on par " • Mines disclosed increasing 26, filed be no were " r,v authorize Exchange on Feb. 8 received notice from this to approval of stockholders; at the annual Exchange directs that tribution' until , to , 26, 1946, pursuant to which the will be changed and reclassified into four shares of common stock, of $1 par value, by the distribution on Feb. 26, 1946. of three shares of $1 par value to holders of each share cor- meeting April 2 will vote on a pro¬ stock on a four-for-one basis, J. J. O'Brien, asked Stock subject Incorporation will common stock, of 'of record : geological r . York that, meeting to be held on Feb. • " - the New company as Feb., 9 declared a dividend of $1 per share on the stock, payable March 15 to holders of record March 1. A like amount- was paid on March l, May 15. Aug. 15, and Dec. 15, last/ year.—V. 163, p. 782. p. capital /.-./■.'■'V;;-?'' Its accrued r mining annual announced. stockholders will be 163, $107,942; income—estimated on $265,517; , It" is of concentrates balance of the treasury shares of Laddie Gold 161„;p.-2223.v to payable, taxes Muirheads Cafeterias,1 Ltd.—Redeems Preference Stk. j 1 common —V. ——, - . period months' six . 9,373 permit , Goldhawk shareholders shares The 58,903 $30,482,578 $33,320,112 25,288,492 27,847,125 1,840,586 ' 1,578,172 surtax '(less 112,063 36,841 _ and tax -surplus, $7,328,920; / total* V. 161, pp. 1545 and 570. • President, The exps -- 7 - 56,483 year for V.v a rights to additional com-' the capital ' All operations were stopped on June to be resumed. Period End. Jan, 31— shares also remain available said. 7 • ' $924,685 profits liabilities estimated operating profit for'the year LTD.; will mine posal to split the- • lines production and •■■;'''' 1945 ~v — amortization, income, . * Minneapolis & St. Louis Ry.—Plans Stock Split— 4 The . regular ' BALANCE SHEET, NOV. 30, 1945 pensation ees - , - $1.16 of of prewar favorable. K'r f \ other for Lake, and a participation was taken along with several other companies, in options on Waller Red Lake Gold Mines. .Work is to be 7 done on both these properties this year. A participation was also taken ,7in the options on Beauchance Mines Ltd., in Beauchastel Township, Quebec, a company incorporated on the Algray property. Diamond same * shaft structure basis. Therefore, adjusted provision for Federal taxes becomes $2,141,605 so that the consolidated net profit for the period, after provision for Federal taxes, is revised to $1,692,425 equivalent after preferred stock dividends to 91 cents per share on the common stock.—V. 162, p. 2395. Merck & Co., Inc.—New Stock Voted— The labor 7 drilling is being earnings for the first before the Revenue Act adjust the provision for converting to peacetime Production excess share) y' \ LIABILITIES—Trade accounts, $550,406; provision for renegotiation reorganiza¬ „ the released in amortization- excess Sin Red $2,258,892 ' quarter % v. company obligations (net),. $577,357; - trade accounts receivable (net),- $1,252,710; claims arising from war contract terminations, $493,666; claims for refund . • i averaging 80.96% General:' ' profit entered agreement inventories, $4,706,176; investments property, plant, and equipment used in operations (after, depreciation and amortization of $3,439,190), $2,940,537; uncompleted machinery Installations, $67,846; property not ' BASE METALS MINING CORP., LTD.: A total of 47,777 tons of ore were milled during the year, averaging 2.83% lead and 13.67'% zinc, from which were produced approximately 1,400 tons of lead concen- , Net termi¬ 0.138 ozs. copper, 7 acquired 79,663,102 164,253,812 152,014,144 4,082,177 9,199,763 8,133,123 2,894,575 5,149,278;,; 5,874,231 5,365,733 for ..and 7i poration holds a participation in the financing, the installation of 7 the necessary plant and equipment have been practically completed yyy.:-$:3:;y.y,:yy Net Net and $31,139,274 $33,149,145 income ASSETS—Cash, .7 of its ^ report 31, and milling 1945—6 Mos.—1944 the year. appears ;■ profits 01 V'I; % CORP., LTD.: During the year 204,067 tons of milled averaging 3.68% copper and 7% zinc, from which were !. 30, 1945. sufficient ; ./.;-y.yv' as years, "' 7 *7 •' ■*"< . i v Subs.)—Earnings— Loan was provi¬ basis depreciation of property, plant, and; equipment of emergency facilities Including accelerated amortization—1945, $539,845; 1944, $638,662. A-7.\ ' "*1* VI? ^ ^ ' * 1,1 'r''1 copper concentrates averaging j gold, and 11.51 ozs. silver; also 19,297 tons of zinc concentrates averaging 52.90% zinc. The estimated operating profit for the year was $783,000. ' V '.-y.;-: McKesson & Robbins Inc. t "V" 1945, general $2,400,000 profit ..-and M. « , involve^ x67.95«,/2 shares, or about 27% JEROM GOLD MINES, v. . of required For STATEMENT, YEARS ENDED NOV. 30 NOTE—Provision 7' - company Net . Corp.—SEC Approves Sale of Stock— averaging 58.89zinc. The was $197,000. " " Charlotte dry ice at its plant In Saltville, Va.,' and ships it in specially constructed refrigerator cars to various distribut¬ ing points. In addition to those mentioned, the company maintains carbon dioxide warehousing facilities in Richmond, Baltimore Bir¬ mingham, Jacksonville, Memphis, Nashville, New Orleans, and Tampa. —V. 163, p. 314. 1946 Dividends paid -J -.Earned.per share-:—— Manpower Mcpamee. the .Cleveland re¬ )• during charges excess - Mathieson Alkali Works (Inc.)—Two New Warehouses its loan 7-v the , will ;v\?: 4 22.48% trates The corporation announces the completion of two new warehouses for dry ice and carbonic gas, one in Greensboro, N. C., and the other in Washington, D. C. According to Charles T. Longaker, Manager of Mathieson's carbon dioxide division, the refund employees* security trust fund— normal , to time by the directors. • paid produced approximately 30,647 tons of - net expense Federal Partner, ■ Midland were ore years the Regulation with renegotiation proceedings No refund was required — Miscellaneous NORMETAL*MINING one-third consecutive will 3077. d. ?"used in operations subsidiary, at competitive bidding was approved Feb. 13 by (after reserves of $87,053 for depreciation), $100,and Exchange Commission which reserved jurisdiction; 588; patents, trade-marks, and licenses (net), $1,177; deferred charges. of the bidding. $299,686; total, $11,720,654. %• An 'interim common more buying, 162. $30,389,274 $33,149,145 Mining Corp. of Canada, Ltd.—Interim Report— . such Dr. - common to - . purchase extent of 1943 paid • A'v'"V f- Federal - Exchange opening market price on that day, The rights are-exercisable to the com- « concluded were in 1944. and year company for sales President, Forbes subsidiary, Midland Utilities Co. Both the latter companies were reorganized under Section 77B of the Bankruptcy Act- pursuant. to a plan approved, by the SEC and con¬ firmed by the Federal District Court at Wilmington, Del., 011 April 7, 1945. The plan contemplates the speedy liquidation of Midland RealIzatiop and Midland Utilities.—V, 163.^ p, 782< ' floor a results The sale that on sold to certain officers and employees of the were the Reserve and Merry weather Machinery Co.; Ralph Geckler, Presi¬ Securities oVer the i. advised. the has company and • Garfield, Baldwin, Jamison, Dorn, President, Van Dorn Iron Work's; Dr. directors - r Co., a the Massey Harris Co., Ltd.—Stock Options— The 1945, outlook Payments to , of For Federal declared Interest , & Vice-Chairman, Jamison, Joseph JMcCammon, Jr.,' ' Walter, Company, 1943 Board of import duties on metal, paid in prior years Interest, royalties, & mis<^. other income Unrequired portion of res, provided in pr. years Corporation's proposal to seU alt Ha interest in the Midland'ReaHza- ; .tion C. Harold Worsted 1944. March, 1943. .-■:;7 celerated Chesney, Honorary Vice-President, General Electric Co., Pittsfield, Mass.; Bernard W. Doyle, Director. United States Rubber Co., Leominister, Mass.; R. DeWitt Mallary, Attorney at Law, Gilbert and Mallary, Springfield, Mass,; and Edward H. Thomson, Director, Springfield ■ Merica, Middle West were of Corp.—V. Refund * ' and Actuary; has been elected1 a late Harry G. Fisk, who died last November, v; four ' . , in the business President, Lenihan Charles Seelbach, President, McNamee, Robert and CV Mack, Vice-President for ; • (Springfield, Mass.)—New Director Elected— Harry H. Peirce, W. Officers Macklin, . director replacing the Directors reelected "- ' t desirous ^Provision for renegotiation--.- Landis, Chairman of the Board; Dan T. "Moore, President; Eliot Ness, (Chairman of the Board of Diebpld, Inc.y, Vice-President and Treas¬ urer; H. Wardwell Howell, Vice-President in charge of Middle Eastern operations;-'James C. Gruener (of Cull, Gruener & Stearns, Cleveland, Onio), Secretary and General Counsel; and Gene Hutchinson,. David '' - Geckler; & C.; D. Forrest 1 properties, $ ■*' Lott Hope & Ulrich; James van pigment is Assets agreements Adjustment years INCOME with the help of the over 60 given The Middle East Co, exclusive Merrywcather, George Theodore Lenihan, sion, variations Massachusetts Mutual Life Insurance Co. Co.; dry Co.; Frank L. a chemical many the 15, the • Net country Charles E. Reed, dent, in a complete color - range fillers, permits radically new applications in the household, wearing apparel, industrial, medical and' other scientific fields.— V. 163, p. 466. ■>, important Motch Co.; rigid to a soft "rubbery" state, and will Industry now employing rubber, metals, and wood. of excellent coupled this Varnish has Offering am entirely new source for material supply, the Marvinol type resins, compounded with various plasticizers and other ingredi- of The Cleveland Graphite Bronze Co.; Simultaneously, Mr. Martin announced that the Plastics and Chemicals . Price to year the sales Among its stockholders are the following; John Brjggs, President, - The Gabriel Co.;' J. C. Lincoln, Chairman, of the Board, The Lincoln Electric Co.; J. J. Mclntyre, Sr., Vice-President,- ' resins. new settlement year, of ex-;-:;.' porting American products all over- the world and importing foreign Total income products in return, is also engaged in building manufacturing plants Cost of products sold—— in foreign countries by combining foreign capital with American ,7 Selling, administrative & general machinery and know-how. woven . War production, and it did so promptly. proceeding in volume considerably in a franchises to sell their products in this area, The Middle East Co. of Cleveland, which: is insulation, transparent • tne of and crane This American manufacturers who have . traveilin'g purchaser of expense 26,322 square feet 14,826 square feet. a per in which it operates. .. subsidiary, The Middle East Co. of Turkey, will be the spear¬ head of The Middle East Co. of Cleveland's drive to aid in the indus¬ : will rolled facilities has has except less in were countries • of During the year your company expended a total of $463,168 for new equipment, improvements,, and additions to the plant. Provision, for depreciation Of the company's plant properties, including amortization of special facilities purchased for the war emergency, amounted to $539,845 for the year.? Dividends totaling $424,792 ($1.60 backbone of highly-placed complications of that area and carefully the with shop 7/ No problem was presented to representatives in every; part of Turkey, is pursuant to The general policy of setting up subsidiaries and affili¬ under the aegis of the most powerful possible interests in the ates of Marvinol wire familiar individuals The prospective the the chosen type polyvinyl resins, from which a wide assortment of end-products be made by manufacturers, Mr. Martin said. The new plant will be operated by the company's Plastics and Chemicals Division. Mr. Martin made it plain that the new plant would manufacture only the raw materials, and that from them will come articles of superlative quality, far exceeding, in most essentials, the same prod¬ ucts If they were made of other materials, including natural rubber. Experiments in the Baltimore laboratories have shown that the is a • corporation, with this block. the at Nov. Middle'East Co.'s will material the subsidiary. formation of The resin, and that the board of directors has authorized the construction of a $1,500,000 -plant. The new plant, which will be In production by next fall, ultimately • 7 company, President of Im¬ project housing than the amount previously provided. renegotiation has been made on the same applied in the settlements for the preceding two into prominent: Turkish; individuals;'- including-Kihsan;.v;Ppfhk,^v.the:-iv'-]|arge$t.; exporter of Turkish tobacco to the United States, who will act as (Glenn L,) Martin Co.—To Make Plastics— the fabrication Stran-Steel for On u. called,,• "The Middle East Go. of Turkey." which is formed under the laws of the Republic of Turkey, has an initial capitalization of $160,000. It is controlled by The Middle East Co. of Cleveland, Ohio, through ownership of 51% of its common stock. The minority interest is owned by a number of This Glenn L; Martin, President, on 'Feb. 2 announced that the company Was ready to manufacture its remarkable new elastic plastic, Marvinol have the was - Turkish subsidiary 7 author¬ ized shares from. 400,000 of $12.50 par Outstanding to 1,300,000 shares •of $6.25 par value.—-V. 163, p. 314. ^ Will which respect sion 6 announced the formation of on Feb. Moore, President, Dan T. The purpose of the meeting is to vote on the board of directors to provide for a 2-for-l the split-up of the-common stock and the leasehold ^Corp. construction. the heat-treat structure Department with (The) Middle East Co., Cleveland, O.—Forms Sub.-r- for $215,443, for in and Assets ... sales after nated has concrete During Marathon Corp.—To Split-Up Shares— A of Corp, use War —F. L. Bank > of New York has been appointed registrar of $1 par value common stock.-r-V, 149, p. 2695. for X,200,600 shares trailer for buildings the Mueller Brass Co., Port Huron, Mich,—Annual Report Riggin, President, states in part: 7 con- $2,235,483, was and to Government Products sections in use be removed contingency consolidated income , Motor steel land according the machinery in the plant, presser connec-: and of $19,000 > . $105,000. consolidated after to buildings on the land tract of approximately 2 acres are a shop, heat-treat building, and electric sub-station. All are while area statement $55,600,000 the also for The antibiotic, registration $2,280,000, Mich., that was built by the Gear Grinding Machine Co. front-wheel automobile drives on machine Mesabi Iron Co.—Registrar Appointed— Magazine Repeating Razor common on a share-forshare basis <for the present Eversharp common.—V. 163, p. 655. ■> the in approximately of apd $52,763,163 of approximately by covering $146,000. cost a stamped and contingency reserve appropriation of $49,000.—V. 163,. p, 314. would be called ' of appropriation reserve :were < included sales net income net 1945 for consolidated 'solidated ...y figures Tentative show lor meeting . special a this of merger special call-its the-concern recently proposed a proposal. Repeating is at used and • k The Acquire Farts Plant— Hamtramck, 7:,,.7 provements, , large-scale for " the 8. purchase price, > & Co. and of the issue. facilities Feb. on 18,000 shares are to be soldt by ' "Streptomycin, and the carrying of inventories, particularly in t tion with the manufacture of streptomycin. , , Magazine Repeating Razor Co.—-Proposed Merger— In be sold to the Motor Products Corp;, Detroit, Mich., subject to priority right of Federal Government agencies, the War Assets Corp., a subsidiary of the Reconstruction Finance Corp., announced ■ (est.), plant the Lehman Brothers are named to head Holders of the 100,000 shares of out¬ standing 4 V2 % and 5%.% preferred stock will be afforded an oppor¬ tunity to exchange their shares for shares of the new preferred stock, v After the issuance of the chares, the company intends to apply for the listing of its common stock and the new preferred stock on the "New York Stock Exchange. 7 • ' • The offerings-are expected to provide the > company with "over $5,000,000 abQve the amount required to redeem Outstanding preferred 1 stock, which will be added to the general funds of the company. The company contemplates substantial expenditures for the construc¬ Sachs Go:dman, the underwritings parts will 7 -7 ;.y:: of which . ordnance the War Department for operation by In the production of gears to be used 8 ,^ taxes Motor Products Corp.—To shares, than $5,000,000 of new filed a registration statement with the shares of a new preferred stock and 118,000 Feb. on company shares of common stock, "certain stockholders. $675,000; notes payable to bank (maturing $387,500 in 1947, and $375,000 annually thereafter until paid), $1,700,000; Deserve for Certain. contemplated pensions, $48,000; capital stock (par $5), $1,040,619; capital surplus, $126,798; (earned Sachs & Co. and Lehman with more company 7 LIABILITIES—Notes payable to bank, $200,000; accounts payable '(trade) and sundry accruals, $361,206; accrued salaries, wages and adjusted compensation, *$184,243; dividend payable, Dec. 1, 1945, $104,031; social, security and other taxes (estimated); $58,341; federal income the kk'kr. The $4,497,612; sundry investments, etc. (alter $31,000 allowance), $15,704; land, buildings, machinery and equipment, etc. at cost, alter $719,236 depreciation), $1,043,979; unexpired insurance premiums, prepaid taxes, travel advances to salesmen, • etc., $50,736; trade name, good¬ that Goldman, expected Registers With SEC— f- doubt¬ 1 is provide money. inventories, will and patterns,, $1; total, $10,352,031k will which It will head the underwriting of a public offering of new Brothers $1,191,530; Savings Bonds (defense series G, at cost), $50,060; U,' S. Treas¬ ury certificates of indebtedness (series D,* at cost), $2,100,000; U. S. Treasury notes, tax series C (at cost), $315,000; notes receivable ful shares. mon % ■ cash S. 907 V stock 1fi9 ($1 n par), "}n77 $1,483,895; surplus, $6,775,117; "■ • THE COMMERCIAL & FINANCIAL CHRONICLE 908 National Steel Corp.—Earnings-Dec. •Profit and * operations from income Interest charges- portion— tUnamortized ■ for Fed, Prov. Net profit 1,545,000 ^ shares- $1.21 - $5.04 - net Total of end the of 1944. $15.26 to ■ basis the -on enough value market a $272,993, „ a share a year earlier. at a cost to the company $4,786,517 on Dec. 31, and of ENDED DEC. 31, 1945 STATEMENT OF INCOME YEAR Income Expenses $121,757 Total •_ 15,779- 1944 account at Dec. 31, Balance of distribution ' 30,186 -—— income, excluding security profits and losses— Net ■// ■ ————— \ $137,536 —- — - ^Allocation to distribution account of portion of amounts ' and subscriptions on - Dividends ,' Less, 19,929 $157,466 ——■-_—.■■■/ 523,539 Total declared stock capital on Balance ending March SHEET cash $3,908,788; interest for $22,671; subscriptions Nehi after Net Federal 552,000 capital Shares of the 20 which upon / OF NOV. ENDED YEAR INCOME, Army airline —_i— ' ■■pales'. —V, 315.' p. $233,730 $6,176,478 $6,410,208 — — 163, Net ' . , inc. tax accrued in prior years ^ The company on Feb. for Net inc. (exclusive of security ' intends to call for redemption its outstanading 146,478 cumulative preferred stock, par $100. The* old preferred at $125 per share plus dividends. The romnanv Is granting to such holders the right to receive the redemption price of their shares of old preferred by the delivery of six shares of 4v new preferred for each share of old preferred. As the amount of new "in¬ ferred will be limited to 675,000 shares, the right is limited to holders of old preferred who first deposit an aggregate of 112,500 shares (76.8% ) of the old preferred/ The holders of the remaining 33,978 shares (23.2%) of old preferred will be required to take the redemp< tion price of their shares in cash. The redemption price of the 33-,978 shares of old preferred is $4,247,250, exclusive of accrued dividends, and the company has made a commitment for a bank loan of $4,200,{ 000 The plans of the company contemplate that such cash be event¬ ually provided through the sale at competitive bidding of 140,000 additional shares of its common stock at the same time as the company's parent, Standard Gas & Electric Co., makes its contemplated sale,, at competitive bidding, of all of the common stock of Oklahoma England Gas & Electric Association—Output— ' Fo; ended week the Feb. from sales of securities^— Unrealized appreciation of secur. during the Association reports electric output 8, owned 11,009,757 kwh. This Is an increase of. "286,122 kwh., or 2.25% production of 12,723,634 kwh. for the corresponding week a year •of * 7% it. by The the manage a group- /// . first *$49,967 1,508,765 ; from , . distributions month-ended the For Jan. 31. mortgage bonds, Payment will be made at the Chase National York, trustee, 11 Broadway, New York, N. Y. were BALANCE output of 57,608,075 kwh. This is a decrease of 960,636 kwh, or 1.64% .below production of 58,568,'ill kwh. for the corresponding month a {year ago. Gis • for January, 1946 is reported at 758,401,000 cu. ft., a 17,858.000 cu. ft., or 2.30% below production of 776,259,000 in the corresponding month a year ago.—V. 163, p. 783. output decrease of it. cu. NOV. 1945 30, General The directors - , ■ declared Feb.: 5 on dividend a cents per share of 45 Other paid on Jan. last., Distributions during 1945 2. 2, 40 ctr.ls quarterly and 20 cents special; Oct. 1. quarterlies of 40 cents each;—V. 162, were and follows: as April July and 2, 2 2821. p. issuable issued or Jan. iless redeemed shares) Net Clock Ilaven Co.—To Vote Feb. 27 and liabilities to to stock successor of be Co., the new Tentative is an ue corporation to The as for company each share of —V. with Reynolds & Co. 4'72 % $1,250,000. to sell additional provide to Newman ; W. Adsit, Treasurer, . the of the company distributions Code as > be under Section Dec. The above Treasury allocations tax return.—V, (PerSh.) (PerSh.) : have been the of $0.50 /-'• 1.00 .41762 .06238 .21910 0.50 1.00 .780C0 - - . . Patrick directors It is announced Bank 5% thereon have of said and notes that of „:/"/ tentatively approved final determination usual annual audit of its certain City gold remained or this of is - i.-;"-,;'--.:. ' k ■ •' -.V- . Vice-President and Seymour H. Knox; to fill vacancies corporation Chairman v•. ./ _ • '■ < by the upon the U. of the director on Trust Marine (he board. of Buffalo Co. ;; and of a Marine the of Marine Co. Midland of the Trust York, New corporation the of bearers March 11, of 1946 York dated unclaimed 163, p. 315. deposited moneys New notes by the the order in ^pril 1, W. bearers or coupons they to will redeem registered for more than be the Na¬ out¬ 1928 and pay interest returned to owners six New years, York value 314,687 82,815 $2,192,143 $1,946,994 —-j——— 72,085 ______— and surplus Feb. acquired 13 nation's the assets of '■%••'■ trade-marks, patents Effanbee, dolls, in a affiliate, and its Inc. manufacturers largest high-quality Fleischaker & include Inc. Baum, founders two Fleischaker,- President, and Walter Fleischaker, Vice-Presi¬ Secretary, and Sales Manager. Bernard Baum, son of the dent, other founder, Sadacca was the largest producer the is This makers air and and cf Baum, also of third In 35 of Treasurer years making quality major and Factory EFFANBEE the are the company dolls. facilities and line, expanded the world's be considerably to ago, ultimately Hamilton, space units. O., step In December manufacturers heaters.—V. ■ - Government securities 1944 . Accounts ■ receivable. Materials and ^ —- - 720,378 93,802 ——.—{ 389,321 18,902 30,964 —$68,410,269 $66,389,768 LIABILITIES— series+.A Common stock Retirement 367,152 Total 349,086 33,397 >38,511 accrued liabilities reserves . reserves Earned —V. and credits Deferred Other 1,304,294 3,416,757 accrued current Other - surplus 147,718 132,920 i--—--L/.-;'l2,258,274 11,110,661 J-i - i; 15,006 25,269 —i—^' 9,357,151 { 8,049,065 —— __1 '' - 163~~p. 636,302 ---////■—/ 4,031,645 accrued Interest 'f $9,000,000 9,303,900 9,000 18.000,000 4,954,000 60,000 _ preferred stock (par $50)—. $9,000,000 ($15 par) __——— 9,303,900 Premium on preferred stock, series A 9,000 27/e% first mortgage bonds _s__: —17.8G5.000 Bank loans, payable serially to 1949—3,933,000 ■{{property purchase obligation —% 40,000 Accounts payable 666,346 Customers' deposits ' 1,382,673 4%% 87,482 332,609 i annuities Past service 1,587,163 521,374 :, 1,759,168 —/ ; v,*., ' Miscellaneous deferred debits Total ——- — supplies Prepayments ;• - . ——— $68,410,269 $66,389,768 316. Oregon-Washington Water Service Co.—Bonds Peoples Water & Gas Co. below.—V. 161, p. 2004. Called See • expansion taken by Noma in the past "Frigid Freeze," home and farm freezers, frozen food lockers Heatrola - 31 Manager. January Noma bought Refrigeration Corp. of America, conditioning Co., is announced established objective two months. Steve Hugo SHEET DEC. $63,695,781 $62,437,254 880,432 379,075 Other.:,lnvestments;-/^-/^%-i-,----«~.--w-iv--i'-.//;{/ .21,036,/ / -24,757. Cash 868,988 916,196 Special deposits- -i_; —19,170 16,178 S. firm, the of Bernard BALANCE 1945 plant Utility U. Taxes transaction with with The Chase on properties of Fleischaker & Baum, Mr. . 427,500 requirements: preferred————, COMPARATIVE Corp. F. Noma Electric Corp.—Enters Toy Field— This and of said De¬ company's 746,487 $2,416,582 ASSETS— and involving more than $1,000,000. s/. './/Henri Sadacca, President of Noma, stated that the management and policies of Fleischaker & Baum will remain unchanged. Officers S. stock .dividend Balance for common stock - elected recently were He also Woolworth Co., Gaylord Container Corp., Hewitt Rubber Corp., American Steam¬ ship Co., Messer Oil Corp.^ and Bogalusa Tung Oil Inc.-1 Mr. Hodgson is a /member of the newly-formed law firm of Hodgson, Russ, Andrews, Woods <& Goodyear of Buffalo, N, Y. He resigned Nov. 1, 1945, as General Counsel for the Navy Department. The corporation also, announced the election of Thomas C. Watt as Treasurer and James S. Ely was, named Secretary to succeed Mr. Watt. As Treasurer, Mr. Watt succeeds James H. Anderson, who continues as a Vice-President. Mr. Ely recently was discharged from the Army in which he served as a lieutenant.—V. 163, p. 466. director a cash $3.00 $.28148 162, p. 2949. that the serial after Dock Co.—V. Hodgson Knox Mr, which tional H. Inc., Ntw York Dock Co.—Funds Returned— standing v:. J- ■// .:. Niagara Share Corp.—New Directors, etc.— . Total $2.71652 pending Department Non Taxable None .r. 1945.. partment's. completion income and Internal None ——j year the of 1.00000 10.1945.—— for the paid $.50000-'/ : : 10, 1945 To'al . (PerSh.) ——v 9, 1945 Sep / (b) U5 Taxable • Dale Paid— rch 10,3945 to letter 672,602 — Preferred,- $50 par 783. p. follows: ' M in . of the opinion Jhat dividends a located as between taxable are snould 1945 year hon-taxable June 7 -stated ' The officers Revenue Feb. on stockholder i: during * • Jersey Zinc Co.—Taxability of Dividends- 163, ■ / is , ' stock common . - preferred stock working capital.—-V.. 162, p. 462. ■ r- New New H. White, President, announced. through the issuance of three shares of arrangements have been made of known be 0rl7,336 $3,163,070 $2,619,643 deductions Preferred, series A, 4%% income surplus (deficit), $14,417; security (deficit), $3,348,623; excess of value of investments based market quotations over cost thereof, $5,611,088; capital closing ;'•■>p\(. a Richard effected presently outstanding. at 0r21,759 $3,292,246 — — $5.50 convertible prior to common stock: common stock—authorized," issued and outstanding, 1,000 shares of $1 par value, $1,000; total, $25,979,148. Split and special meeting to be held on transfer of all of the company's assets proposed a a will asked be Watch & trans!or common : ■: approve Clock Haven The will stockholders 1,768,462 $3,180,406 —— income profits surplus on Change in Name—Plans New Financing— The 1,522,594 — — paid-in surplus, $20,961,404; . Stock on (net) 457,621 914,476 2,964,000 . $3,314,005 accruals income Preferred applicable New ——763,216 923,798 income,-—2,886,800 ' shares), $2,411,811; 2,411,811 reserve income Gross special stock; special stock authorized by charter, (4,000,000 shares of $1.C0 par value (divided by the board of directors into 23 series).— th;--. capital stock, par $10, payable April. 1 to: holders of record March .1". A quarterly of 40 cenis and a special of 30 cents were on state taxes on operating income Utility Income applicable to special stock: due to brokers (securities purchased, not yet received). $220,555; payable for special Stock redeemed, not yet received, $120,386; accounts payable and accrued expenses and taxes, $15,944; capital and surplus applicable to taxes Retirement $25,979,148. Hampshire Fire insurance Co.—Increases Quar¬ New 6,953,993 / 6,067.395 Federal and LIABILITIES—Liabilities terly Dividend—• $16,364,408 $15,352,361 revenues, Maintenance on deposit with cus¬ closing market quota¬ tions (cost on the basis of identified cost of specific certificates held, $17,639,836), $23,250,924; due from brokers (securities sold, not yet delivered), $10,995; dividends and interest receivable, $224,874; receivable from wholesale distributor for special stock sold, not yet "delivered, $447;286; prepaid -and" deferred items, $1,430; applicable; to common stock: cash on deposit with custodian, $1,000; total ASSETS—Applicable : to special stock: cash securities—value based on • - SHEET, Operating interest. DEC. 31 MONTHS ENDED 12 FOR EARNINGS $798,134 surplus. profits security from S 139,000 Bank of the City of New made to shareholders during 1945; and $759,918 surplus todian,-$2,042,638; Association reports electric the 4945, income Co.—Partial Redemption— for redemption on April I, next, 2%% series due 1961, at 101% and called Deficit. Cash Jaiyiary Electric and ,Gas Production Lower— / :: ; been have to of /// Oklahoma Natural Gas There . output for the Feb. 8 week is reported at 173,626,000 cu. ft., an increase of 3,007,000 cu. ft., or 1.76% above production of 170,619,000 cu. :t., in the corresponding week a year ago. >/' ; an agreement with a dealer-manager of security dealers to obtain acceptances 163, p. 784. right.—V. optional -above ago. . make will company form and of $814,772 15,030,645 year of . ACCOUNT Net proift company redeemable is $368,988 $731,063 profits & losses) PROFIT AND LOSS SECURITY New 675,COO shares 331 r Gas & Electric Co.—Registers With SEC— 7 filed a registration statement with the SEC shares of 4% cumulative preferred stock, (par $20*. Oklahoma invest-; —. ; completed, W. Fiske Marshall, Vice- President Northwest will have carried more than 30,000 mili¬ tary men across the nation on Its four daily trips between Newark, N. J., and Seattle, with stops en route at/Buffalo, Milwaukee, Bis¬ marck, N. D., Billings,, Mont,, and Spokane, Wash. / , The corporation assigned about 125 pilots to the project to fly the fleet of, 15 Army-owned transports./ Chief maintenance base for 'the fleet is at Holman airport, in St. Paul, Minn.—V. 163, p. 467. project is the When $368,658 $731,063 income Adjust, of Fed. : Increase 1945 1946 from their regular soldiers and sailors after the end of the European war. operations,; said, 1944 149,200 transcontinental airlines ordered by the four of one to operate the "trans-con" service, separate operation, to speed movement of returning shortly $446,243 77,585 ' Its- major opetation operated August. last Northwest -is 30 $880,264 ; income Expenses Newberry Co.—January Sales Rose 3.8%— the since (Excluding Security Profits and Losses) Total v? that it will complete anothe# of assignments on Feb. 28 when it will discontinue troop-carrying "trans-con" military airline it has military : Military •„ The corporation announces of . (J. J.) of 6.4%.—V. 163, p. 783. To Discontinue — Airline— advanced more than the gen¬ Standard 90 Average, w^lch Is the by Airlines, Inc Northwest industrials, 20 rails and 20 utilities. SUMMARY 2517. Month of January— the weelc ended Feb. 9.1946 with 47,007,000 kwh. for the corresponding week last year, an increase Series Industry measured as * , $1,024,355 $901,667 , (Del.)—Weekly Output— output of this company for 50,007,000 kwh., as compared totaled building market 554,000 1,350,000 profit 162, p. - Co. Northern States Power v Net Electric Co. of Missouri, St, The North American Co. , Electric Diversi¬ he could not afford to 1945 —V. eleven in made made up of 50 1,380,000 ————— of -elected /a. director ' .' - —V. 163, P, 196. The $2,928,359 taxes profits tax excess 1944 $2,833,667 — materials as President of the Union been has- Louis, for programs , Elects New Director— tobacco. Fourteen charges income /Federal Four equipment, eral 1945 ' - Series , made* in' each of- the preceding was " /• j, w." McAfee,' . gains of between 40 and 50%: machinery, steel, metals Six .had/gains of 30 to 40%: agricultural, oil, railroad supply, electrical equipment and business equip¬ ment. Gains of 20 to 30 % were made by chemical, food and auto-; mobile. Gains of 10 to 20% were registered by insurance stock and {bank stock. , • for *, Industry & Electric, distribution similar quarters. chandising. Corp.;—Earnings— Calendar Years— A loss." a : and securities ' purchased, $55,163; payable for capital stock purchased, $2,477; accounts payable and accrued (menses, $5,510; capital stcck, (par $333,643; capital surplus, $3,554,779; earned surplus,: $326,652; total, $4,278,223.—V. 162, p. 2646, LIABILITlES-^-Payable . share of Pacific Gas per Among the 20 Industry Series were five that made gains in the 1945: fiscal year of more than 50 % in net asset value per share: alcohol and distillery, aviation, ' railroad, public utility and mer¬ $4,786,517), trustee, $272,993; dividends receivable and receivable for securities sold, $55,953; re¬ to capital stock, $17,818; total, $4,278,223. by held accrued, ceivable Speculative take 1945, 31, Dec. at value (market ASSETS—-Investments fied $23,947 1945 DECEMBER 31, AT the cash holdings or more (conservative It would be a mistake for any shareholder to place in ments, 1946 included In earned surplus..— 15. BALANCE used investment through increased {Series quarter for distribution dividend for available 390,020 investments portion cnarged to surplus irom saics of have of 100 stock, cash will be paid at the rate of 45 cents per share of North /American common, based on the market. price of approximately . $45 V , Co. will dividend The , ' paid on redemptions of capital stock equal to per share amounts of undistributed net income inciucted in sub-acnpcion ana redemption prices received construction ' 1 . be paid April 1, 1946 to stockholders of record March 4, 1946 subject to approval by the Securities and Exchange Commission. In lieu of fractional shares of Pacific Gas & Electric '01; /investor, with relatively complete media for the achievement of a particular investment objective, says the report. ' , ' * DIF-is designed for those who desire primarily adequacy and con¬ tinuity of income. "Better-than-average income is usually available only at some sacrifice of opportunities for capital appreciation," it is stated. "The income-investor can hope that in the long run he will obtain growth of his capital, but both the advances and declines in the market value of his holdings will ordinarily be less than those of investors who put appreciation at the head of their list of objec¬ tives." ' DSS, on the other hand, says the report, is for investors interested first and foremost in seeking capital gains, at least with part of their capital. It is a vehicle lor "greater risk-greater reward" capital. While providing an element of protection which is not present when an investor buys one or a few individual speculative securities or concentrates his holdings within a narrow field, neither diversifi¬ cation nor competent supervision can guarantee protection against a general decline in securities prices, the report warns, / * <' "While it is the hope of your management," shareholders are told, "that when such a. time comes it can restrict the decline in this ,/ $151,943 ' they might: otherwise select. ^ - , ' . , Series, special purposes. These can be designed to secure better-than-average capital appreciation under favorable market conditions, for relative stability of income, or for defensive purposes when the market trend is in doubt.. . . . "Thus, the Industry Series provide the investor with a means for establishing a program which can be as aggressive or as defensive as he wishes." ; > / In contrast, the corporation's General Management Series, Diversi¬ fied Investment. Fund and Diversified Speculative Shares, provide the of $3,908,788,: had cash amounted to carried Industry 20 the_ Pest individual performer, in the industry, but reasonably'-expect that It will be far better than the /•'Other' investors the 1945 aggregated 31, Dec. on , . corporation's choose to they can worst, which " $13.91 against Investments, : company, a the the same industry." know," the report continues, "the result of, their investment;' equal that which they could obtain if they were fortunate not will $5,092,804 market quotations and compare with $3,001,516 at Net asset value per share on'Dec. 31 last amounted of assets in "They /p| Inc.—Annual Report— Nation-Wide Securities Co., of % : stock amounting doubled. stock selling and general expenses, and all other expenses. tAs of Sept. 30, 1945, of expenditures under certi¬ ficates of necessity applicab.e to the period Jan. 1 to Sept. 30, 1945, 85,496,948; less reduction in Federal taxes on income, $4,620,000. ■fIncluding amortization and Federal tax adjustments (shown sepa¬ rately in report for quarter ended Dec. 31, 1945),-—V. 162, p. 2396. / 30, 1945, year earlier. Stock— The directors on Feb. 11. declared a dividend on the common payable in the form of common shares ol Pacific Gas & Electric at' the rate of one share of Pacific Gas & Electric stock for every shares of North American common stock held. ;' to $25,621,364 compared The", number of iis shareholders Nov. in Dividend Payable Co.—Common Pacific Gas & Electric Co. signed by Hugh W. Long, President,V; corporation nearly tripled during the , of sales, cost deducting •After the , *$4.87 • , 1945 of , 1 ; P the report says, /"offer the investor a flexibility and control over his investment program which are not present in a broadly diversified fund; at the same time, their use assumes that the investor will maintain a degree of continuous direction of his investment program which Is Pot required m a broadly diversified fund, v: ' ' "Most of the investors who have bought /share of the Industry Series have probably - done so in preference to buying an individual $10,751,369 2,206,392 $2,670,396 $11,117,764 2,206,392 2,206',492 , '-$1.06■ - , ended $8,619,811 Shares 17,200,000 3,050,000 f 16,000,000 . $2,207,091 ^,208.^2 ——— Shares outstanding-j.—per with for assets American North Stocks, Inc.—Annual Report— report net year nearly * ' taxes on . profit r , /''■ $4,629,039 $5,720,396 $27,117,164 $27,951,369. 876,940 " • —;v, "r-r- ? income Net . annual that' .fiscal $44,139,569 :'!•,'i 3,724,484 418,582,320 14,403,646 424,270 1,462,982, 1,724,554 314,285 -i— profit Gross - The /shows $9,874,150 $47,163,066 $6,324,698 Deprec., ■ depletion /and/-/ amortization 1,881,374 York New ; ■ , , in- v,•/.'%:///'>;// irom dividends- and terest ; \ Quarter Ended——-—-Year Ended 31, '45 Dec. 31, '44 Dec. 31,'45 Dec. 31^44 l' Monday, February 18, 1946 163, p, Noma of gas 782. acquired and the electric Estate ranges (J. C.) Penney Co.—January Month of January— Sales —V. - 163, p. 231. Sales Increased 1.59%— 1946 1945 Increase $36,901,143 $36,324,563 $576,580 /A///'I/,' (Continued on page 945) /'/l THE COMMERCIAL & FINANCIAL CHRONICLE 163 '. Number 4465 Volume Stock and Bond Sales DAILY salse are dlarsgardsd In the days ranae, NOTIO*—c»en and detsriwd ashvsry ? i '/"* New York Stock Exchange «» WEEKLY - furnish a daily record of the transactions in Treasury we Figures ff/tcr decimal point represent one or more , 4%*, 1947-52— Feb. 14 2 V. "- •• 3%s, 1946-56 ./V — (Close : Total sales in $1,000 units //,Vv f—. High - v — ( High ■ ■■•vv. J Low (Close - f High 1956-59————.—L. { Low (Close — X:-XhXXXXX:XXXX,'-: ' (Close iv if Close ——;—i 2s, March 1948-50 '" xX-X'X:■■■; -4 ;S 4;;. -4 ( Low — - ': •>.. :■ I Close High Total sales In $1,000 units /■;, ( rilgSi --V ■?/>■ = . ' • (High \ Low (Close ■ - :?■. ■■ Total sales in $1,000 units — — •f / -JA;.. f High 2s, Dec., 1949-1951^—Low (Close High Low; —— Close Total sales In $1,000 units—j—. total sales in $1,000 units— ' * . ' • . (High 2%s, 1950-52——————— ( Low I Close f High . —{ Low (Closs (Close' Total sales in $1,000 units , ' (Hi«h ^1^53^^-*^.-—4,*-( fLow XpX:xX\-Xxxxx:XXX'-i:' 4s'4^4:44ff4'(Clo$e4 (High 2%s, 1956-58—4-r^" ?Low.i (Close Tp(Rl^ales In ;$.(,000 units———- Total sales in $1,000 units— — * f ■."/> *■ ' ' f High Holiday Holiday 8s. 2%«; 1962-67*————:—*—-I Low; • ' ICIose 1951-55—LOW * (Close - . . Total sales In $1,000 unltsf———i - #'Tot»l sales In $1,000 units-——*—/ • - 2Vis, 1983-1968—— units In $1,000 Total sales - i ■. ^ Total sales In 5 (High units v.. 4 106.1 104.27 104.21 104.27 104.21 104.27 104.30 ■ Total sales in , 104.30 (Close ' , Total sales in $1,000 units— 104.30 —-| Low (High j! Low; (Close ; " . ' 104.21 units % ;. 1 V»s, 1950 • 1 f High In $1,000 >: • , 106.1 Total sales In $1,000 units 2VaS, June 1967-72 (Close 106.1 / Low 1948————.——*—i Total sales 1 \Close , ———I Low :±l 106.3 105.26 v ''' (High / (High ; 1951-55———* 1%S 106.3 .? j Low . ■ Low f ; Total sales In $1,000 units——*— 4vffv4>f:v:v^vc-f,. ■ [High 106.3 105.26 105.26 Close Total sales In $1,000 /.V ■ -■/'•> ■ (Close (Close; $1,000 units— 2VaS, 1966-71 % Total sales in 21,000 units... Low 4 1952-54———.' Dec., < ? • le -j Low (Close .%///'• ( High . - — 2%«, Dec., 1964-1969 X:: X ■ f High • . i 2s, { Low jClose.:. Total sales In $1,000 units % ■: ■■cW'Xy (High 2%s, June. 1964-1969 - Total sales in $1,000 units.——— - <*<:;>.■ ( Low (Close [Closs -i (High 2s, June, 1952-54—. -—"I Low ?•/,%, /v -v f High . Low [ High Si. Sept.^,1950-1952—- \Total sales in $1,000 units— - - Total sales in $1,000 units Low, , • 1950-1952^-«-*ii-j (Close (High 2%s, 1952-54——*—* - 8», March, Total sales In $1,000 units - ■ ( Low ,4, tClOSO 2s, Sept., 1949-1951 (Close $1,000 units— . Bales In $1,000 units Total (High i I*" 1948 •' 2s, June, 1949-1951 X;X:XXXiX;Xi-. (Close L .. 1 Total sales in $1,000 units— ■ '. ' ;X~:XXr- XX^X^xXX-Xi HX{ u XX XX (Close1 (High | Low ' :. 103.17 20 tl, Deo. 1948-50—Low Low Total sales in $1,000 units.*-.-—i. j 103.12 Total sales in $1,000 units f High 2',4s, 1949-53——— 103.17 • - , ■ Total sales 1n 103.17 103.12 (Close' , 2 103.12 J fllgn " units— ; ; 103.21 5 ■ '\ xxX'X'-. { Hign i Low I Close 2 % s, 103.21 5 ' Total sales Id $1,000 units -v-- 103.21 103.15 ,(Hign 2s, 1947 ; \ Low '■'■X:'vX>XX'- ^ f'-fiV;" (Close Total sales In $1,000 units " . , Low . 103.15 103.15 103.10 (High 2V4s, Dec., 1959-1962——] Low (High 2%s, 1958-63 103.10 103.10 Total sales in $1,000 units 2%S, 1951-54— Total sales In $1,000 Holiday Low Total sales In $1,000 units Close $%S, 1956-59 1 (close Total sales In $1,000 Units— Total sales In $1,000 units ' X. 3 Low (High 2y4s, June, 1959-62—Low f ■^■vXXXXX- X : XXXX- va- 4 (Close ; — Low .... 104.31 3 Total sales In $1,000 units 2y«s — , , 104.31 104.Z4 j - -:vf • units 2%S, 1948-51— , 104.31 104.23 (Close •y4S, 1954-50 — High 'te/-y xmx 104.28 104.14 3 , ; %/////■•1 High \ Low / Total sales In $1,000 ' 104.14 104.14 | hirii ■ k Y' — 1 Low (Close (Close : Feb. 15 Total sales in $1,000 units (High Low '■■/;*« (Close :v> Feb. 14 104.16 (High - fsv. ;/•/ Total sales In $1,000 units-. V Feb. 13 104.13 J{ 1%S, 1952-55 —, -if- ———1 a%8, 1955-60 Feb. l'i 104.16 unitS >.■ i Total sales In 11,000 units SS, '1951-55-.. 4,-' '' Feb. 11 Low Holiday — . — f , 3S, 1946-48 yf/s///:.--•; Feb. !> Total sales In $1,000 units ■ j Low / 1%S. 1949-52 ■ Exchange ' V/.v-| High '■ . Prices 2%s, 1951-53- — Total sales In $1,000 units ■ year. { Low //./// : /f'%'// Lclose %■ ■ the High 1 LOW ; Bond 1967-72- Total sales in $1,000 [High ' /'■ V'Y</: for vClose Total sales In $1,000 units— Z/ range fHigh Sept., 2%S, Dec., 1967-1972 (Close 3^ 1946-49 /*.•//•;/// tns I Close ( High ( Low . eompotmg Total sales In $1,000 units 91,000 units : Vis, in coupon bonds on the New York Stock Exchange during the current Dally Record of U. 8. Feb. 15 — [ClOM Total sales In 32d of a Feb. 13 Feb. 13 and Home Owners' Loan point. treasury {High j Low Treasury Feb. 11 Feb. 'J Daily Record af V. 8. Boat P*leas / account is taken of sneh sales United States Government Securities on the New York Stock Below week. • //r/ YEARLY - unless they axe the only transaction* of the day. No 3 1 $1,000 units ♦Odd lot sales iRegistered bond transaction. l NEW YORK STOCK RECORD LOW ;. $ per share X 97% *111% / V $ per share 113% 125 -iw •. -„ 125 17 y4 17 35:i:i ->23*'\: '> 17% 17 35% 56 ♦37Va 38 38 19 y4 18% -1' '<• X: ;/ 18% v •54'" ♦130Vi 133 ; v; ;:. * 10% 75/a 7% •"• 63 75 *73 y4 4612 - *107 • ' *2334 108 - *26^ 37% *107 27% 201 ♦111Va ♦118 122 footnotes v 23% 37% 38 18% 18% 19 . 23% ' 25 % . . 919. ' 37% 108 23% 35 36 22% 5 4 ya 133 55 131% 10 Va 10% 7% 7% 300 * 5.400 Adams Motors No 39% 1,600 Address-Mutigr Corp 19 % 4,100 Admiral 6,500 Air 55% 132% 11 140 Reduction Alabama & Alaska 7% 69,400 Allegheny Par 10 * Corp. 15,900 .. 1 Inc No Vicksburg Ry Juneau Gold Corp par —100 10 Mln *1 100 - 62 62 63% 8,500 5% % 74% 75% 75% 76% 1,000 45 $2.50 prior conv preferred-No par 45% 45% 46% 5,100 107 % 107 Va 23 3 4 23% 800 *lC7Va 23% 197'/a 26% ?53'» 37% >4 108 23% 200 v 120 pf A with $30 war Alghny Lud Stl Corp Alleg & West Ry 6% gtd Allen Industries Inc 203 203% 2,000 Allied 26 % 27 27 Va 1,100 Allied Kid Co 37% 37 3 a 38 3,400 Allied Mills Co Inc Chemical . 1 Corp & No par 100 1 — Dye -No par 0 No par . ; $ per share share 99% Feb 5 60% 116 Jan 24 lliy4 Jan 10 3 19 Feb 1 9% 4 36% Feb / 2 25% 3 4 3 3 24% Feb ., 31J/2 Jan 19'/4 44V4 / 32 17% / 52 122 8% Jan Jan Jan Jan 33% Jan 7 3 > 88 Jan Nov Apr 115 r Jun Jan 114 7 Dec Jan , 17% Dec 13 Yb Mar 35 } 21% 29 32% Jan 47% 41% Jan 28 22% Apr 34% Nov 20% Feb 1 17 Dec 21% 1 38% Feb.l 4 Apr • DeC^ Dec Dec Dec Jan 56 98% Jan 122 12% Feb 6 6y4 Jan 9% Nov 8% Jan 28 2% Jan 6ya Dec 69 % Jan 28 34% Jan 60% Jun 82 Jan 28 56 Jan 74 48% Feb 6 22% Jan 42% 107% Feb 8 91 Jan Feb 58 133 Dec Dec Dec Dec 13% Jan Jan 17 29% Jan 28 153% Mar Jan 24% Dec 30 27% Aug 36% Dec 210 . 108 Dec Jan 30 25 l85y2Jan' 2 , 60 $ per share Jan 57 Fety 13 Jan 9 Jan/3 5V4 Jan 3 52% Jan 3 68 Va Jan 7 38 Jan 3 105 . Jan 25 21% Jap-.4 22% Jan Highest $ per share 128 4 Year 1945 Lowest 2 Q2Vi Jan __10 Express Adams-Millis per 112 Jan / 15y4 Jan 2.50 Co Range for Previous i Highest 113Vz Jan 28 100 No par Acme Steel Co 5,900 100 '--CX $ No par preferred ACF-Brill ♦",••/' ; * Range Since January 1 /fff/fLOWest;:^ Par Abbott Laboratories 5,300 56 - < 61V4 : 200 y2 38 Va 17% 22% V / STOCK ' v • 4% *52% . • YORK EXCHANGE ./>;;/ Abraham & Straus 22 7% 7% 46 133 35% 97 VS 753 10% 73% 197 ' 52% r 11 % 60% *107% ' *» 34% 53 34 135 45 r 36 page 37 18% 73 " 27 see 31V* 59 ^ 202 37% 53 7 - — - 21% 54% 10% ; - 22% 52 • . 36 Va *133 ' ' 17% 18 V* — • , 17 % 37% ' • 17 ♦95 35% • ' Shares • 113 123 >fi- —- 108 *26% 38 For 113 ♦118 ■ 46% 23% 24 204 202 *111% 17% 97% 21 Ww '■ 75 45% 47 $ per share /,>-'-V".• STOCKS NEW the Week 123 *52% . 62 Va 60 Va 75 per share yx Sales for Feb. 15 113% 16% i' »_ ' ■ 7% 61V4 . *118 ' _— 11% 7'a ■ v. 133 .11% '/ $ Friday ' /:.'- 97 Va - /:■' ' •«... . • ' r 54%- 53 Va 55% 133 4 11V Feb. 14 97% -V- u-.' ■ 38% 119 ' ■' 23 23 / 56 '/ ■ —« 36 Va 22 % *52% 36 ♦52^4 Thursday . *111Va f ■ ■ ♦120: : 97% 97% *120 mi'1?' 113 y2 ., ; Feb. 13 $ per share $ per share 99 ♦92 Wednesday Feb. 12 Feb. 11 Feb. 9 PRICES Tuesday Monday Saturday >4:: SALE HIGH AND 39 , . Jan 15% 25% 194 Dec Dec STOCKS Feb. 11 Feb. 0 $ per $ per share 107 107 ■ 52% 131% 129% 33% 32Va 6 3 2% 10% 10% ' '• 32% . ' 10% *58 66 141% 144 144 44% 44% 44 VA 72% 72% 73 74% 37 37% 80% 26% 79 V2 26 Va 79% 26%;..77 55% 54 Va 56 •'/ 38 38 80 26 : 55% 43% ■44%; 36 •'•■:.■; >133 15% 16% 15% 97% 98 97 97% *131 - /■ 30% 30% " 107 50% 107 48 ;: 10% 20 *19 42% 42% 38 39 38% 12% 11% 59% 110% 16Va 16 Va 16% 17% 102% 102% i. 103 103 *15% 15% 15 13 *118 39 39 *143 Va 16% 109 108% 97% 186 *182 186 35% 34% 99 39% 39% 303A 30% 44% 45 Va 70 70% 68% 179% 179% 178% 179% *49% 50% *49% 30 Va 35% *56% 57% 155% *152% Feb. 9 191 Va 192% 85 85 26 47 145 144 »A 14Va 49% 54 Va 45 *45% 46 *24 28% 28% 15 14 Va 43 Va 49'A . 28 Va 27% 14'A 14»A 55 Va *50 *106% > 108 ■ *106% ■7 75 3A v.;, 103 *86% 118% 27% 118% : ,, 27% 7 7;'' 90% f *120% :• 30 vc •>10%C 90Va ■'•• »» 12%' 56 3A '•< 50% 90% 126% 128 V8 : 91 17 *108 110 '"■•• 33 % : 7,' ->; '•• ;V' — * !> 77 ": •;' '■ZZvji '• ::'7> 108 7;.777 7 ; 75% 36 Vs 37% 36 27 Vs 44 V V Xu 27% 44 Vs 45 22 Va 22% 22% 22% 81% 82 81 82 41 For 41% 51 51 Va 55 55 ••::•<•. ' page 919. see — V<y X ^ t • Dec 5 10 1 14 29% Jan 9 Jan 18 Va Jan 32 % Jan 28 *105 Va Jan 107% Feb 14 , 140 V- Feb 24% Jan 7 64 70 Jan - :' 24 ' ' S Jan NOV 69 Dec Jan 27 Va Dec 7109% Jun 15 Jan 43% Feb 11 14 V« Jan 30 V4 28 ; 37 29 3% 7. v Jan 2Va Jan 96 9 43 Va Jan 30 14 55% Jan 9 V* Jan 1 *12% Jan 28 Jan 28 63 3 Jan 17% Feb 11% Jan 22 99'/a Jan 21 Jan "12% Feb 51, 47 68% Jan 7 105% 107 J20 737-i:7/ i 75% ; ; ; 118% 7:".H7 .7: 77-f 27%; 27% 56 55% 88 5777.; 87 Va ,!:•;••. 120 125 • 108 33% 33 Vz 1238 13 .75 . / 17 m /' ■'77 108 • • "•y-f -yf/■■v'f; 76. i , '•.; 32 17% 7." 7 .10 7 " ^7,800 1,200 110 716,300 440 . 7 27% 300 • 117 88 790 ■ 103 Jan 15 2 7% Jan 14% Oct Jan 11 48 Va Apr 54 Oct Jan 41% Dec 7 26 15 • 108 Jan 123 Nov 21 Mar 41 Nov 19% Dec 39 Va Nov 11% Mar 20% Feb , • 41 Va Feb 24% Jan Feb 130% Jan 41 Va Jan 86% Dec 2% 80% Jan 28 54% Jan . Jan 101 Feb 15 11 Va 14 :':176:7 . Jan 99 9 18% Jan 38 Dec 17% Jan 31% Nov Feb 6 15 32 Nov 29 40 Va Aug Jan 44'% 73% Jan 181% Jan 15 164'A Jan 50% Feb 6 41 % Apr Jan 31 14 40 Va Feb , 48 • 170 •75 23% Jan 7 <:. *-.77c t 50 13% 77 817 37 y> ' '2,800 preferred Jan 31 Dec Feb 6 41 Aug 60 /Dec 58 V* ; 155V4 Feb . 9 Jan 16 x*, 150 Jan 25 3 15% Jan 29 Jan 17 60% Jan 83 JU" 51 Va Feb 6 29 V» Jan 49 Nov 38% Jan 57% Dec 24 Va Jan 45 109, July 113 43 Va Jan 51 43 Va Jaii 18 Va Jan -■.-'■V/a Jan 27% Jan 12% Jan 122% Jan ': 15% Feb 136 Feb 143 10 111 3 .; 2 7ll2Va;Feb'l37 >24% Feb :14 Jan-K 2 18 45 ; Jan"; 3 84 Va Jan 3 28 34 Feb 76 115 Jan 14 Va, •' Jan 3 55% Feb 8 111 Jan 45 Mar 105% Dec 108% Mar 110% Jan 11 76 Va Jan 113% Nov 120% Jan 12" > 81 Jan 7 •••7IV4 -Sep '9 7 i! 30 Va July "123 31 y> Jan 13 15 X Feb .13 7 18 32 14 «; Jan 3 37% Jan 3 3 14'/4 Feb .'• 83% Feb 29 2 30 4 4,600 40 V2 Feb 13 497/a Jan 9 Barker .—No p"* 38 Jan —50 53 2 9 50% 51 100 • 4%% Brothers— preferred 22 75 -• . Jan Jan 28 55% Jan 23 54 • 2 . .: Jan ff 18 V2 Jan 7 v 11 / 9% Jan Jan 113 > Jan 59 y* Jan Dec Nov t 10Va X. 14% 5% ;. 58Va Dec ■ . ., ! Jan Jan '7 Jan 77 Jan 1 Dec 58 Feb i<* ,, 15 • Feb Nov 27 7/a Jan 60 20% Jan .126 42Va 120 Apr ;•;: 55 3% 7133% Jan 15 97% Jan 7 83 V4 ♦; 14 Va 4 Feb . Dec 7 83% Dec 45 X Nov , • 110 Dec . 28Va Jan 29 3 57 52 Va 120 ;:X Feb X 33 % 13 Feb 4% 7 5 Jan 43 - Feb 88-/3 Feb > 40% Jan f~ > 1393/4 Nov } . Jan 101 7 48% 16 Feb 728% Nov 13 > 87% Feb 108 Dec 140 ' Feb Feb > • 48 Jan 6 "I 15 >'25 Dec Jan Jan 7108 Jan Jan 37 > 193/4 10 18 4 15 Jan"-" 3 73..\ NOV : x29% Dec 11% Jan Jan 103 7 Feb'13 117 59% Nov 108 55 Jan , • 139% Feb 133 ;; Jan 52 Mar Oct Dec 127 % Nov 141 Nov r ; 106% Nov: 9 15- Feb 9% Nov 30% X-; 15 t 113 145 131 »/b Jan 105 27 Va Jan . > 25'/a Feb >51 Jan • > 42% July 7 60% Jan 17 54% Jan 107 V2 Jan - Jan Nov 23% Nov " 102% Mar 84 1,600 13 6% Dec Dec 49 V4 4 V» Jan -7 Sep 9; ; Dec 11% Dec X 23 V2 7> Feb 4? 712% Aug | ;4' 6 3 2,200 *53 ? 2 51 49 3 31% Dec 140 • 38% July , 8 ' 24Va Feb . Jan 42% " 54 3 8; 7; 10% Feb 5 "4 •'• 7 30% Jan 31 Jan 41 4,9 11 9 79% 54 -.47Va Jan 7- - 23 25 170 • Jan 113 Jan •;.' > M 60% Jan 14 / 51 Jan lot 46 Va Jan 79% 51 I 25 22% 48 3/ 3 *22 VA 41% Jan 132 7 8 39 V« Jan 22% 40 Va Feb 74V 5% Mar preferred —100 Bangor & Aroostook— 50 Conv 5% preferred— 100 Barber Asphalt Corp——10 22% , Jan 43% Jan " ',81 9 Nov 112 Jan > 9 100% Mar 10,700 22'A r Jan • 9 30'A Jan ,16 7 Jan 3 , 38% Jan 46% Dec 26% Dec Jan Jan 128 " 3 45 % 8V< 25., 3 45% 79% 3 preferred—.—No par Works Dec 69% 121% Mar Jan 112 -8" -No par —————-:_5<J Locomotive 24 Va ; Sep V 99 Va 15 Dec r 43% Mar 24% Jan Baldwin 161 Va Jan 116 Va 33 Va Jan 44 r. conv 91% Oct 65% Jan 713% Mar Dec 90 Jan 65 145% ' 14 Jan 100 44% 42 29 4 Baltimore & Ohio-.-.—— 43% 78% 170% Jan 2 17 30 : 57 - $2,25 6 • 27 V2 Jan ,- • 93% Jan llOVa Feb KR—— ——100 (The' Feb 92V4 Jan 17; 7 196% Nov Jan 157 3 Co——No pat <»# Tioi per share 195 3 Highest $ per share $ per share 3 , »ri- *ii.\ i i Lowest y y 9% Jan preferred——... 50 Atlas Powder— —...—No pat Horn 53% Nov Year 1945 1 Highest 71% Jan 10 Jan - 79 I SS Lines.— Co Jan 29% 51 151 •';'• Dec 13 .100 Corpx——' Autocar Jan 128% 29'/2.Jan —No par X*_8 y. No par 7: Co-..-.—No par 65 prior a„ Dec/7 22% 108% Jan 6% /..-y 29 17% 9 38,100 7V;.v..7:7 16,400 27% 41 , Dec 43 Va Jan , Aug Jan 17 120 Va Jan, 16 non-cutn 92,200 36% 26% 80% Atlas 164 35% Feb 33 18 7 preferred.j—-.100 A Atlantic Refining—.————26 7 :l: 4% conv,.pref series A—X100 s Dec Nov 50% 23% Feb No par preferred—-.——-100 .100 W Dec 68 V< Jan 27% 4 50% Feb Oct 181 Feb 153 66% Jan 21 120 preferred———--.'-100 / & Decf Jan ' 6 Feb 33V2.Feb . 34 %7:7 iy, 7 2,100 36% G 5% 30% 15% 36% Feb 100 50 5% conv preferred —.i—100 7 25% Jan 12 :7':>> 800 $ Atlas Tack Corp—.. —No par 716% Feb';T3i •' 1,100 Aystln Nichols—..——No pat y 13% 26 Va Atl 19% Dec 1®4 v Mar Jan Range Since January 158% Jan No par Line 95% Dec ' 15 Diy Goods Coast 104% Dec/.7 Jan .Feb 22 V4 186 NoV 13% Jan 6 20% Jan 24 II2V4 Feb 14 preferred—. l—— 100 Topei a it Santa Fe__X-—xlOO • U Atlantic . 142% May ■y 86V2 Jan 145 7 34 27 Va Atch . Dec 7 /v Jan 120 17% 36% 5% ' •r%: 8% 5,100 — . ?■ 32 26% 7 177 7 400: / 55% 110 1st Nov Jan 3 Feb y'y.-7% 2d preferred-.-—-- 1,300 i 34% 36" - 3,000 , 88% 120 V Vi 6% • 90 14% 6% Jan Feb $ per share No par — A. Absoc Investment ; 76 -88%. 34% 56,:7 17., 1 7 4i 40 7/ fr 34 % /fyvsy,! 60 109 > Dec 7 3 Feb 14 Elec * i,? Dec Dec 9 y-. 41% 2 83 Corp.X..—^iXJNi^'-par'y Artloom Associated 2,600 120 • ;•"•: , 89 *30% 7,31"7;7 7 n Dec 58 Mar , Dec 10% 118% Jan 15 187%* Jan preferred -x.-i-i-.wNp par r $3;75 7 70 44% Jan "7 83 Co——21%'y-. Minlngi-———..20 -^-8 > preferred Cork 56 Va 4 , 13% Jan 2 47% Jan Par •: f:'• .26 of Illinois—; & Co Nov Jan 8 15% Feb Jan 147 7 Nov 109% X'..5;'Jan7' 8 7103% Feb 3 / 50 Va Jan • Nov 40 S Mar 38% 112 4 Feb 7 7 3 104'/a Jan ; 8% Jan -'■, 13 Dec XI17% Jan >91 6 9 Feb 113 49 Va Feb ' 9% 19% NOV 43% Jim ' 108% Jan 55 7 Jan 20% 124% Feb "• Jan 10% 27 Jan Dec 57 Jan t • 33% Jan par,.; ; 105% Apr Jan 23 11 V« Feb par. Dec 18% 20Vn Jan , Oct 29% 7 69 Feb 11 3 6% Jan Dec V 149 >13% Jan Jan 113 156% ; 112% Mar Jan par .127 Nov 42 .Dec Jan a Dec • 8 48> 67% Jan 27- 18 • - £6 X; 110 7 58 Arnold Constable Corp—_ : 108 Vz *106% V 40 . *122 • 7, ; ; 199 Jan 39 Feb >-100 ; 86 conv prior , 53% 87% 7 ' '.108 :fy"'7: 35% Oct Jan 16 40% Jan i- — Armstrong 6,900 , „ 139 % *50 27 % 77 f 30% 7.32 Va 7; 12% 7 77 12% 80 Vf 52 footnotes j 22 55% 51% *55 ;/ . *• 1 fc 112'/a 183% 150 Feb 155 % Jan 14 —X—.100 '■ .—10 Wks & Copper X 1% >700 7777:. 25% ' 26 % 43 . , . 118 »31 Va 7>:7 73 •. 36% 27% '• "•" ■ 77; - ,75 , 34% 126 Va 31% [te/;: 16% 717 • 50% 139% 108 40 ' *124 '•;• •". 'X. 13 v8 76 42% i-'/ ' ■ Feb 15 132 3 Feb 142 7 XxlOO, Archer-Daniels-Midland 7 «• 300 141% 141% 75 *88 90% 3 10 Aug 89'% Feb 70 Va Jan 7 37% Jan ' 105 VA . ' 61% Jan 121V4 Jan 10 V2 Va Jan 15 Range for Previous Woolen Preferred Armoui 170 27 49% 120 ;<•/• 56% 87%' >77/ 34 12% 75 41% 7 2,400 724%. \ 25Va 104% 27% 7 <' ' 7l,/7:X"X'": 7.7' :V7 33 75 *56 48% 119 118 27 /7 25 53 Va 35 'ft :'y\ >':'WX4V^;.-J,|V7 26% 26% 139% 88 % . 205 P W Paper Co Inc_— A 400 142 > 57% *111% 115 115 *106% :,/7: 40 34 , • 126% 17 17 13 ';• .. • 31% 31 30 V2 109%: 111 *33 118% 118% f 27% > 27% 56% *56 57 *50 / 74% Va 90e7'7>f 735%:'7 7, ;;>* i ■ 35% 142 48% 119 39 *39Va / ,41 -/vyx/ 90 35 62,500 132% 132 Va 139 •:/ 104 :^:.73% ^,>7 41 Va *86 Va 108 *118% 7" ■ *39% 35'A 15% 14%' 141% •141% " , 55% 108 ;c ; 75% x74% 1,300 - 23 139 V2 *50 104% 118 Va- 119 ,77% 142 : 10 ' preferred—^.—.^—.100 Andes 200 ' 48% y 138 . 108 103% 119 28% X28% 7 24 Va 24Va f 21 Va ■£. *141% 55% - 106 % 105 *118 Va 48 49 142 13 196% Jan Anderson, Clayton & 1,300 3,100 56% *110'/a 112%; 700 23% 10 Va 142 56 < 640 % 132% *131 >138 > 56% 20% ,'■> 95% Feb 106 Smelt-; 1 % 85 prior conv preferred: —"-25 Anaconda Copper Mining _50 Anaconda Wire & Cable..^—.No paf 7 Anchor Hock Glass Corp-——-.12.60 $4 preferred —.No par 114 23% 14% , . ' 28 - 45 >' 10 9% 9Va *24 ^ 128 1 Amer Zinc Lead & 25,800 [' 47% 7 47% 46% • *23% 7 23% 9% ; 84 *44 - V' X41 25 Jan Lowest Viscose Corp >y,r4{ r?i" :i * |f| 29 Jan 17 V4 Feb B-XX-xx^xx>_.XiA28. preferred; American 9,400 100 50% *112% 13% ■138>y,7;yv *50 44 7 45% 23 112%: Jan 136 (STOCK $6 1st preferred 7 800 .85 53% 53 Va 27% , 138 49% 43'A 200 13,000 14% ♦81% >112% :114/ 46 56* V 57 Type Foundries Inc^ Water Am 37,500 • 145 82 Va *52% '. 114 23 57% *48% 6% 6% 48 Va 14% *80 44% 45 Va 20% 21 pa*. Tobacco / Common class • 4,900 25% 145 14% kOttti Telep & Teleg Co^ American 4,900 111 45 JA 144 13% 7 53 Vi 14% *141% 24% *110% 9% 25% >24% 22%/: 22% 49 Va Amer 78,800 , 120% *118 47%' 49 Vs 80% ' 138 85 -85 24% 49 >112% 117 142 > 120% 144 13% 142 138 193% 111;; 44% 46% 132 Va 25% 165 *118 143% 144'A ; 42 rj 69% >15% Feb /; 2 21 —1 ■ • 24% 142 23 Va * *110% 132'A ; 84%7 24 3A 142 *141'/a . 83 110% 134 25% 84% 83 V4 ,83% 192% 84% 23% ' Jan 50' 133 50 Shares share 192%; 192'A 110'/a *112 Va 14 ' 120% 52 Jan EXCHANGE the Week Feb. 15 $ per NEW Sales for a/ Amer 142 23 Friday American *132 j 7. - 490 47% 30 Am Sumatra Tohacco——No par * 6,400 134 117 2,100 4,800 143 *112% 500 •50% 27 70 9% 28% 56% 157% ao 164 142 56 V2 *152 Va * . 69 134 56 Va 153 163% |:>43% 7 14 American Sugar JRefining^—100 Preferred 263,4 24 14% : , 2,600 -163% 47 28% 56 69 > *23% 9% 10 93/4 yy 7 35% 26 Va 46 46 24% 1,400 1,600 68'A >112% 114 113'/a *112 • 48% 31 m 26% 54 54 •• *118 49% 48% - 46 *45 ; ' 54% $ per share 85% 163 VA 80 Va .721% Jan " 69% 81 *80% 81 7/ 50% 55 28 . 400 10 10,900 35% • 50 , 175 xy * 54% •; 50 30 Feb. 14 13 Va 81 '/a Jan 41 Jan 24 preferred.———100 ; 140 73 Feb 13 American News Co————No par: 10% Jan 3 Amer Power A Light No par 97 V4 Jan : 46-preferredw—.i—iw^No pa* 88% Jan $5 preferred. ——NO; paf 7 17% Jan Am JRad & Stand San'y No par 182 } Feb Preferred .—.100 American Rolling Mill———iiQx ; 27% Jan 967: Jan conv preferred——; XI00 " ;i 35% Jan / American Safety Razor—...x—18.50 ' 28% Jan American Seating Co_.—No par X 39% Jan Amer Ship Building Co—-No par 63 % Jan Amer Smelting & Refg—No par x,,' Preferred —x^.100,; 177 7 Feb 14 7 47Va Jan 7 2 American Snuff — —X: .25 ; 160 Jan 6%- non-cuin- preferred-——100, 40% Jan Amer Steel Foundries— No par 7 27% Jan ";■/ American Stores— No, par 7 28% Jan American Stove Co———..No par "26% 145 M 14% Jan 2 6 % non-cunt Amer, Internat 68 47 Va 7 145 V 14 . 14% . *80% 44 "77 7 13 Jan STOCKS 85 41% Feb 78 . 480' 47% Thursday - 192 Va, 25% 111 >110Va 49 178Vsf ' '. ■T * 35 153/ . 6,200 105 Va 47% Sj 54*? share 84 25% 24% .7 110% 47% ; * , 31 69% 50 V* 168 35 PRICES 161 68 Va 68% >118 120% 25Va Si 1 X177 790 48 68 V4 ' V 120% 7 25 110% 49 168 49 84% * 26% 26 49 % 152% 192 > 1,900 30% 30% ;x;45>;; 178%.; 177 Feb.13 162 7 163 . 7 Wednesday 85% : 86% 7 7 69 68% *118 >••■ 86% ,164 ; 263/a 86% a \'S per share I ' ; 46% per 2,170 1,900 39% 45 X' x30% sharer ' $ per 39% 68% 47% Feb. 12 g 85 164 .. f 193% 85 : 7K share per 192% Monday Feb. 11 . f 24,500 36 Va ' 66% 175 HIGH SALE Tuesday 10 100 99% 30% 30 49% 49 7 39% 7/ 43 77 179 V 152% LOW AND Saturday ; 39" 31% 33% 34% 54 ' "54% 50% 144,800 y 188 35% * 100 99% 30% 153 50 51 51 99 46% 22V4 21% *184 V4 35';*:. JC34' 39 *168 • 56% 54'/2 155% 186 4,200 98% .77,97 21% 186 ' . ' 33,300 2,700 108 96 95% 24% 103 • 20%" 186 49% *31% 732 35 35 31 % ' 900 76%', 17% .17% 109 - Va 17 J 7 28 9 9 $%- 145 X-1 70',4 77" 108 107 20 Va 2,900 4,500 ■ 16% 108% 97% *176 48% 47% *143% v 173 *168 48% 40 145 3,500 19% 38% 73% 29% ' 30% 45 45% 65% 67% 1 69% 175 19%: 39 31% *168 ■■■>' 19% 38 *143% , 10 -20 ;-l Dec 5 Dec 56 Va 43% 30 38 V* Jan 200 .... 3% 86 % Jan American Locomotive ——No paf , 115 % Jan 1% - preferred —.100.. 35% Jan Amer Mach & Fly Co——No par 717% Jan / Amer. Mach & MetoiSL^*iL,*-No; "pari* Jan Amer Metals Co Ltd .--No par i f 35 15,800 ' >' 39 39% 98Va > 119 19% 38 16% ' 41%f 40% 38% 76 33% ; >117%; 38% 39 145 220 .. 23 193 Va Jan American 5 conv preferred- 700 Sep 17 17 X45 % Jan par : x-:;> ' • • > 35 29 7 preferred——_—J DO • Corp.X—.i^.No pa*; Invest Co ot J1L—i—-il X ^ : 600 50 v 118% *117% 15 V# 13 • - ; M.toW 41 Va 40 -40%" ~ ,50 700 50 15 x -mM >49% . •182 -7 45% '•V 48 31% 35 •' 15 7. VV Dec Jan Jan 71 'SugarUw;^—.10/: -preferred—-i*100'';| MV'x• ,i 13 American Ic«—No par. 14,300 103% 102 Feb conv i 12% 118 38% 19% 20 Va 31 ' f 50 .95 99 Vs 40% : 106% -•45% •t 40 •> *14% 15% 36% 99% 35 99% 103'A 73 20% 19% *182 103% , 98 19% .19% 16% 1,200 111 Xl6%V 140 Feb preferred———,—.50... American Home Products."— 1 6% 600 61 10Va *143% 109 99 107% '4 98 4 59% HOVa 19 17 • 17% 59 8,60O - Jan Jan,' 3 American Hawaiian-SS Co———.10. American Hide & Leatheri^u.—X.1 -t' 1,400 : 12 16% 38 77 78% *77 UVa 110% 37% 143 76% 16 Va 145 *143% 38Va 7 39% 38% 11% ■; 16 Va ... 600 ' 110 % 39% 19% 5,500 109% Xl09% > 110'/a 118 38% 38% 51% *58% 13'A 39% 39 1,200 113% Jan 104Va •: • 36 I W9- 1st Amer Distilling Co stamped American Encaustld Tiling Amer European Sees—No : American Export Lines lnc x Amer & Foreign Power—i.--No 47 prefeiTed—.-J--..—No 47 2d preferred A———No X$6 preferred .—No ' V5 11% 59%, 27,500 50 so 49% 12 15 40% 719V4 111% 10,400 / 12% I33 ■ • 118% ; 20 •19% V. 39% 7 118% 38 1,300 120 Va 12% *119 ""i/ .37% ; 51%. 50 118% 40% 39% * 12% 121 v.;X • ,. 42% 42 Va 42% 11% 111% 14% 50 *50 50 50 ' 12,400 19% 42% 113 13 13% *13 7/:: 13% *13 :V- *: • 11%: 19% ' 15% j ' 7/ 10% 19 52 109 " 120 *100%" 103 " 54 11% 19 51% 38% xllO •' 53 10% *107 Va Jan 41 Crystal : American 38 Va 11% Jan !;/'7T,Jan 6 140 preferred—————50. 4%% , 2,5do 140 7.2Q0 12 % 11% *59 /•■ 7Qo . Dec 35 4 65 Va Feb - preferred „^100 ' ji. 107% 107% 43% 50 12 V» 59%. 7 . $ 26 %' t 26 % 30% 30 123 36 52% 110% 62 *60% 110% 110% • 420 102% 146 9% Jan Dec 6 . 15 15 5 -31% Jan , > ' Am Chain; & -Cable Inci»*«*.No par • /'.X 549-'-conv preferred^ 100 k American Chicle——i——No- par AiP»*4«an"CAi»»r*,-«»e: qo—„ - 7> 20 ■ 68 *64 r 19s/t *109% 111 11 Va ; *25% 10% 39 •7*51% 26 Va 122 123% 110 ♦in 7 113 52% 52%; 141% 20% • ; American Cai- A Fdy__—— -No par * 7% non-cuin preferred——.-100 > 300 ""rf 3,790 145 41% ■ ; 143 %A 142 >4 19% ' 13 shar$ Jan 58% Jan Amer Cable Ht Radio Corp—,.1 American Can—. —^—25/ Preferred —100 :, : 6,300 ■j 143% io%';' io% 12% ; 123% 124 % ; *: < 38% 142 . , .43% HVa* 124 ' 10% 423/a 12% 131 > 141 • Ain 250 * 19% ,7 11% • 18,500 205 142 89%" 30 *107%' 108% 49 49%. 50% *19 . / ■ 140% 68 13 126 Va Feb Corp—„.1:"': Brake Shoe CoXii—i.;—No pat " ' 5Va% 4,200 38 , : 3,200 . 20 67% 131 "149 ; 107 Va Feb 50% Feb Bosch t'ttericah 97 66 > 38% 38 /vj oO v 16' - 204% *131 x 131% 39 26 107% . 10% 10% 57 96 65% i'. 65 64% *64 30% 106% 7 77 49 204% 140 77f 69 29 34 204% 131% /;• 133 15% 96% *142 26% 26% ?: *65 69 95% 38 % 7.7: 140 K 140 27 27 >■ 39% 142% *65 77 39%' 3 20 Va ' preferred^---A-«--iiA^^^M;X i&y/fz 110X/yX 6% 56 % 133 96 '/a 63 % : 25% • -is% 204 79% 26 % >77% 135 •13% 131 % .: *146 7; 149 150 140 i ; 66 VA 132 132 39% 39% *146 203 7 64% 66% 131% 37% 56 55 *133 15% 9n9% 202Va 5 48% 29 Jan 46% Jan Petroleum Corp—No pat-% pat / Amerada 55 104 Va Jan . preferred————.—50" 6^ conv ." 1,000 79 Va 36% 25%; 25 Va 56 135 15% • 202% 202 66.' 78% • 79%; *77% 95% 15 Va 202 ; 26 25 % 100 x Highest $ per $ per share ! 100 x pat preferred Lowest $ per share $ per share \ No pnr Year 1915 Range Since January 1 Lowest Highest -;1,400 ; ■ Amer Agricultural Chemical_Afo 7,800 ' ; Americah •' Airiinesxi 3,300 -RanK: 42% 37% 54% - 142% 41 •■;.' - 135 ; 68 '• '3,600 *. ••' *60Va 140% 42 ,! 76% J 79% "133 135 *133 , 37 79% 1,600 10% 10% 74% : Par , AlUh-Cnalmers Mtg-.-. i 4% conv preferred.——_i——100 Alpha Portland Com-.No par Amalgam Leather Co lnc— 1 x 2,500 34% 142 - 42 X "'•' 4 % 13,100 131 34 37% ' 52% 129% ; 73 71% ■•V7;-: < Allied 8tores Corp 17,200 400 63 *138 142 43% 140 ., 10% *60 64 *56 ' ' 33%' 10% 10% ■ V' ..,":•:-7' 65% 142% 129 127% x32 X 107 52 Va ;7II Range for Previous ';v.:4/V;: y/.iX'gy7:'7yji .'7.7 EXCHANGE . Shares • . 53 107 52% 51% . 10% share 51% 107 *106 52^ • 126%. 126% • 32 -32% - S h 51% 51 Vt • 65% , - Monday, February 18, 1946 ' L-'.'-V' ■; ' 50% 7:_X $ per $ per share '■ ■ NEW YORK STOCK ;V.Vx, the Week Feb,15 Feb. 14 xX Sales for Friday Thursday $ per share 50%:-' 52i4'":": *106 • 107. 130 lOVa : - 52% 52 v 52% 1317/a T .$ per share share -4 51s/8 7 50% 107 '7.7: 7xX777>y"7 *106 51% 50% SALE PRICES Wednesday FebFeb. 13 LOW AND HIGH Tuesday 7;v: Monday V,: ; ■ STOCK;RECORDiillfp^ NEW YORK Saturday -XX'/y COMMERCIAL & FINANCIAL CHRONICLE THE • Jan i 94Va Dec 130 ' Dec 27% Dec S 20 % Dec MNov 29>Dcc 7!31 7 lOVa'Dcc ©3 Dec 24V« Aug 35% Dec HVa Jan 28% Jim 19 Vz Jan 44% ; Nov 12Va 'Jan 60 Mar 23 Jun 81 Dec Dec 29% Aug 52 Va 17 Va Jan 42 Dec Dec 54 Dec 52% ■ ,Volume 163Number 4465 THE COMMERCIAL & FINANCIAL CHRONICLE NEW YORK STOCK LOW Saturday k A /'/Feb. i)0i Monday! Feb. 11 $ per share : 23'/a 30% 30% 42% 43 *109 *109 107% *139 22 "i 30 y8 107% A *41% 43 / A 43 A *41% Bayuk 2,400 Beatrice *41 % 110 105% 20'A 20% 42 1 30, ^ > ■A- 0:-.:'110 '* 144 21 21% 21% 29% 30% 30 32 ♦111 55 29 % 55% :A. 54% 31% 37 Va 37% 25% 26 ;• 74 40% 24% 25 *34 -* 28 28 3/4 44% *69 A 21%: 29% *66% 38% *179 189 54% 51 10 51% 10 A *60 61% " 39% A ^ 49% *60 4,900 Best 17,400 161 160 73 *71% -721/2 71 40 39% 401/4 41 26% A! ' ''-'A•/, 44% *43% *441/2 112% -v„, 63 50y« 10 52 49% 59% 60 60 29% 50 39%:: 195- 6,700 50% 51% lO'/s 10% 59% 59% 4,900 *73 A 84 ; 18% *75%' 18% V 51 84 18 18% 51% 38% 50 54% 54% 39 •111 39 33% 111% 34 A 593/4 400 *36% 37% *36 V* 20 37 % 51 ..A 51% A •' 56% 57% 59% / X40> 371/8 v 41W 42 111% .112 : *33% • 33% 37% 35% 22% *35 22% 24% . I 35 22V4 *125 23 % 241/s X98 .99 26% 27% A 43 A Ail. A 25% 2GV/4 • 42% 42% 40% 41%. *41% 42% 41% 42% 40% *108% 111% *108 %• 19% 19% 14% •" A./ A ' Mfg A :$5 preferred 640 ' Budd 5t400 ,500 xi3% "• 13% 92%: 86% 87 28% *109 13% 92%; Forge 94 ;:-:>,:29>A 111 6% 8% 8% 32% 33% ■ •:i 107 108 ■ 1 ■ >. 107 34% '10,500 a; 34/>• 1071 34% Wednesday Thursday Feb. n Feb. 13 Feb. 14 3 per share $ per share $ per ■ 46 11% A 57 12 45 H i ' A> 6% e'A 6% 11% 371/8 45% 441/4 1291/4 130% 44% 45 55 55 > 11% 6% 5% ' vA 5% 45 < 10% 11% 341/2 35 11 35 11% 35% 45'A 45% - '' 36 37 45, 46- - 44% 45 129 A 129 . 129 , 129 21'A . 65 '/a .56 . A 20% 65% •65 19% ' *56 A 129 * 35% 36 45% 129 *55% 129 , 133'/a 53% 52% A»73A> 4 19%". 29% 133% 50 'A ,5iy4. 30 ®b A A'- : • 73'A 58'A Zinc 79 58 STOCKS YORK 22% / * 64%' 20 10 10 46 9% 9ya 45 46 •181 183 > : 74 74% 62 160% 159% 21V4 21'A 21'A 26i/a 26% 26% 26% 13'/a 13% 131/8 13% 12% 12% A; *157 ;., 25% A 21% 26% i 21% 12% 21% 230 A.. 12%: 12% 117 13 20 40 21'A *39% 41 32 -A' 49 A 49% * 32 A 17% 47% 10O H *20 100 A i> *20 >• 15% 25% 14% A 15 ; / 321/4 oo>41'" : 75% 36 36yvr 331/a 34% 78% 75% 75% 75 36 36 35 y4 > 57% *54'/2 661/2 66'A 22% 22 . 135 54% 31% - *113% 53% 32 *82% 32 83% 110 23% For •• 82% *106 24% footnotes *23 see 21% *22 14% 13% 48% 49 136% 13i% 116 ♦113% 54% 53% 32% .- 82% 110 23% page , - 919. „• 3iya 57 66% 233/4' 21% .*22 23 y4 22 22 14 ya 14% 14% 47% 49 134% 116 ' 54% 32% 82 110 53 32% *80'A 82 *106 13^1/4 *1331/2 , 22%' .23% *106 22% :A: ; 47% 135% 116 541/a 32% 1.900 > 2,700 ■ 109 Jan 7 36 Jan 29 — i —; • class A™ 300 A 700 . 7,300 ">-20 Dec 151/8 Nov 95 Nov 81 Jan > Nov 27% Dec ■>■ 110 Jan " Oct 7% Jan Dec 28 v' Dec Feb Nov ' Highest $ per share 27% 52%. 11 A/7 ^ari .30 12% Jan 28 43 Dec 56 Apr ■H 4 1% Dec >A 6% r 49%i Jari '•';• 17 57 2 "134 28% Jan' ; 4 70% Jan - ! 8% Jari 431/8 Jari A 47 10% 56 20% Dec 48% 11 72 Nov Jan A Oct A 32 A >49 Jari 30 ; "10% Jan 2 47% Jari 2 Jan 35% 152 8 15- A 14 : Jari 2 161% Jan 3 22V2 Jan 28% Feb >21% Jan 10% Jan 135/b Jan 28% Jan 24 ; 100 No far A 29% Jan A Jan Apr 41/4 6 • 43 > ^cf 119% J&n i 114 Jap Jap Jari -—25 A 54% Jari " 5 ~No, par :>• 9% Jan" : 2C/4 Jan 49 "21 Mall Order j9% Jart - 41 L—v50 ■ l 29 ■ Jan A. 15% j,« —No par ,29% Jan 3 i—100 69% Jari 3 St Pi 25 331% Jart 3 Co vtc^. Series A preferred : -. Chic Milw P Chicago & Northwest'n- w , i—No par.. 36 V - Jan"*" 2 *38 Jan preferred ?L— Chicago Pneumat Tool— i—100. preferred cum — dlv Chicago Yellow Cab—• Chickasha Cotton Jarr 4 66% 56 Copper Co Corp Cinft-G & E Co pfd 4% 3,400 110 C I T Financial Corp: Jan"3 251/4 "59% Jap 21% Feb" 13 No par : 10 No parA 23 3 A series—100 : —No par . .19% Jan* City FuelA> Stores No "25 Vb Jan - 2 "22% Feb 15 —5 22 Jan 22 , 58% Dec A Oct i Jun <; 12% :l Jun 12% Jun 34% Jun 1r 27 hi Dec t ; 33 n ; Dec 4 74 Nov t 49 % Jun 54 Jan 66 v 37% Dec ; Dec Jan Jan 59% Jan 64 Dec 27 . i Oct 54. Dec 15% 16 Jan Jan 91% Jan 42% Jan 15 . ! y i £ 26 X23 Dec 20% Jan 140% Dec Is 35% Feb 1 58 i»ntr 30 D°c 68 % Jari 11 105 J-n -24% Jari 8 25 Nov 107 [ 107%, Dec 19% 15 561/2 Jan 86 % Feb A 30/ Feb Jan •; Dec / Nov • f Dec Jan > ; Nov 114 104 Oct 55 48 141 —100 >■ Sep Jan 130% Jan Feb' i' Dec 29% 114 52% Jan Dec 6 Jan 8 180 15 '49 Jan • 32%' Dec :,'A> 50% A>: 16% Jan 8 42 a;* 4% Jan 28% Jan St preferred - 17 Jan f. Jun Nov 49 11 67% Jari A15 ,68% Jan Ice 7 121/b Jan" 21 par City 4 * ; 6 * 63% Jan* City Investing Co————-No par 5 Va % 2,000 par, No par Oct r Feb A >40 Oct A 37% Jan Jan Dec AA- 20% Jan Jan i Deq 13% Nov vj-J; Jan ..15% "43% Jan 4 34 31% 11% "A 115%. Jan 24% *"76% Feb 69% Jan . par; No Oil tchilds Co Chile Na , . 6% Mar 5% Jan A.24 "38% Jap 29 82% Jari 28 ' 5% Ay 24/ 8 "43 Feb" 13 ., A, ■ Dec / A A A 211/8' Sep Nov 14% >r Dec |Jun AAv25%' Dec; Ay 33 A. 171/4 Jan 2 • 47% Mar,/ ' preferred——; 5% Chicago .—50 159 112 4 T NOV > 21% Mar f "18'/a Jap 23 26Va Jan 28 2 2 71 r !r i' • Dec 110 i 26% Jan 108% Oct 31 Jan A 51% Jari 15 3 108.; Dec iAA.66%' Nov Jan Dec 48% , A; 175 Jan 11% 109% 10% • 7 Janr21 47 110% Jan Jan 18% Apr A 23% Jap 17 25 / Mar A 42% Jari 5A 10% Jari ■A 34 Feb 4 33 Jan .'51% Jari 16' f 7 Jan 19% Feb 15 109% Jarf " 2 No par Jan 14% ;• 29 ; Jan Jan A 20% 24 116 Jan 46% Jan* ^7 14% Jan* ' 3 par- :127 15 Jan 13% Jan 12'A Jan , 37% 28 29 Jan 104% May 15 20% Jan 26'/8 Feb 10 Jan 47% Jan 15 109% Jari ._1 82% Nov 5% Jan "66% Jan i Dec 4 "77 2 > 33% Nov 59% Feb 31 3.7% Jan Dec 9 67% Jari "3 No par 52 Nov Jan 171/4 Janr* 3 21 Dec 56 183 1JL2 " 135 Jan 3 155 A 128% Dec 116% : 107% Jan : No k V68V2 Feb" 13 - No par ^ 15 81% Jan 28 4 ; • Oct ;n3% 24 60 ; 8 175 Nov 6 Jan 34 3 Feb"11 68 45% 53% Feb >46% Jan 21 . 32% 7 131A Jan A 58 Jan 4 91/2 Nov 20 31':.'' A 371/4 Jan 126% Jan ._100 ; Chicago Great West RR Co 13,000"^Chrysle* 110 231/2 *7 4 57'A Feb 7 . * conv 35 % 82 —50 ; pf ($2.50) 11,100 *80 47% Jan Jar|,uv ' Jan 31/s Jan 55% Jan No par No par Chain Belt Co_ Champion Pap & Fib Co V $4.50 preferred s— $3 53% '106 Dec 20% $ per share 2 No par ; 6% prior preferred Pr 116 82 Dec 111% . 87 : Aug • v 101% 22% Mar A A; 39 ; $ per share 21A Jan —-100, •. Products_ 130 231/z 134%; 135% 39% > Jan Year 1945 ; 17% Jan " 4 7% 2d preferred«i.«w4——i—4.100 100 66i/2 48i/2 Dec Dec > : Lowest " • 22^ >22.% 14 14%—. 23 2 3% 15 16 ^4.—50A. * 110 23V4 7 3 A62% Jari' $ 7,700 *57 331/4" 14% 6 111 1,100 53 91/2 Jan Apr Oct 39% A 42% . 105% July > 34% Jan 26 6,000 '1131/2 3 Oct Dec 37% .«A' Ai: 591/4 Mar :r. 9 Dec 97 24% t '-:;•, 771/2 Aug 29 Dec Nov 25% 71/4 Mar- ' 3 Jan Sep 13i8 32V2 Jan 31 ; 8,500 *471/4- < 105 109% Jan - Jan J •>.*22 911/4 Jan ; 4 22% Jan "67% Jari ! '• ' 42'% :37 : 2 24 Jan - 66 8 100 4,200 ■ A . -7 6 % *56 941/2 Jan 10 A 20 16,200 75% 29 < ^-5 ,* 4 : 42 15% Jan 3 ±*-5 78%. *36% 9 400 v 77% 751/2 •66'A v, A. 25% 33 ; • 33,300 36 % 20% 14 3 —:—_10 —>.i. series_ia— 4% Checker Cab Mfg. ; Chesapeake Corp of. Va 11,80Q."; Chesapeake & Ohio Ry_, ■i 7,600' ; Chic & East 111 RR Co. AA, ' 41% 46% Jan 100; - ! 10 • 35'A f 15 5 ; preferred Certain-teed 400 J 75 •' ; lO'/s Jan Co_ tCent RR of New Jersey A 1,800, «... 40% 75% ■<A" *541/4 .{ 34% 36 '• 'll'yl 38 78% Jan 14 ' 4 10 Century Ribbon Mills Cerro de Pasco Copper . 10 : v 20 * 15 32% 18% 30% Aug A 2, 64% Feb Ry——100" Central Violeta Sugar Co 200 34% >. i ■ 66% 141/4 *47% 116 54 ■ 34s/b 77% •>' -771/8 42 '•.*«: 40% A ,. 56,000 A 16% . 29 Nov 20% Jan Jan 531/2 Jan Central Agulfre Assoc—par' Central Foundry Co 1 200 A 3,900 >62 141/e 36% ; • 221/3 Jan 19 • Central Hudson G & E Corp_No par Central 111 Lt 4%% preferred—100 1,100 r •' 323/4 36 34 57% 21% 49 '•>24% > 14aA *66% 22 137 153/4 ■32% A 103 •A 20 -r ;• 6i4v;/15% 25 14 *55% • 22% *47 60% ■241/4 .... 40 *96 20 41 A-A'77 : 14% *106 36 - A-t 23 14 141/2 32»/2 r'32% : 37 35 42 • 106 601/4 : :>-i 49% ' 114 ; 2 109 ' 4 Celotex.Corp ^ No par A 6%. preferred A.—4.-——>—20• A 9,300 19% 110 ; 49% . 4,000 49% 39% v *112 ' 771/8 66% *21% *113 15 A 20' 24% 32% ; *1091/4 113 *98 A •..■ .A 50%; 113 A- 151/8 14% 13% 39 ••'*48% 60% 411% 56 v Va 20% 75% 56 135 32% 37 4 " 114% 106 36- t • *66% 23 50 231/2 r 110 •:. .38% 39 6o 14% 34% 79 41% Ay 18% 20 15% 25 14'% 32% <35%' ' 1*32 ■'■•:!• 471/4 18% *1091/4 A. ... 32% 4%% - . AA-- 47% Jan 40 128 Jan 10 25 Celanese Corp of Amer— $4.75 1st preferred—^ 1,410 ; 5,400 13 A A',- 41 - 74% 4 A 20 125'/2 Jan A„1 : Caterpillar Tractor . 8,800 ; 21 17% Steel Preferred - ; 130 ' - *20% 47 ; 3,600 A *40 " A; *98 , *31% ' A 1091/a *113 40 A 12,200 ; /*115%. a 17 20 40 6 431/2 Jan . > A- 10% par ; class Ohio Carrier, Corp ■ 200 13% : 12% Carpenter 90 : >Preferred 21% 13% , 17% 38 61Vs 15 38 -'■". ;nV,34% Vi<i77% .. *48 V// 20% 24% « 32% hi! 38 ' < A 50 --a 101 A •>. 601/2 14 >'. 38 .13 :. 28 31Y« 47% ...31%; 114% *98 61% 25; A .: 49% *113 20% 61 v >•> > '• 13% 12% p >' 28'A 27 A 9 > 4 42% Jan Carriers & General Corpt~—,~1 • 3,600 ;• ; Case (J. IV Co^^.^u44u.«.Ml»u:25' A: 160% f:21% A' Jan 451/2 Jan - 3 A 8% Jan "7 31 Jan" ' 2 . 1,500 . 27 >: >*115% 117 :AA ' 109% 27 A 12% 20 I7I/4 21% 29 40 A/:: .-46% 110 A A 38;-/ 50% 114% 20 18 AA 117 *39 A 48% *i09y4 39% *113 33 A; i7'A *109'A 110 <>'*38 A: •:/• 50% 40 *31% 17% A *115% 20 : j. *159 26% 21% Pacific Ry Carolina . 100 74% y'" 631/2 A ' 13 Va .. 20 ya' 61 • Copper—5 Administration $3 preferred A_. Clinch & • 800 *107%' 108: 160% 26'A A 261/2 Canadian 11,200 v 180 ,".73% 261/a 26% 26% 13 *115% •115% 117 A 159 159 A" ; 73 59% 60% *107% 108 : 9% 46 180 A 180 X72% 73 60 58% *107% 108 107% 160% 25% 25% 45% 180 181 A; , 107% 159 25% ; -72 61 59'A 62'% A 107% 107% 181 74% 46 / , 1 — 2,300 32%: -; ,82; 1 59% * *9% 45% 44% , 183 A *181 ,74% 9% Jan 12% Mar 23% 3 A 39 54 50 A a 80 45% 35% Nov- Jari 120 21 - Dec Nov 451/4 Feb . Dec 36 112 28 Vb Feb 22 - 59% Dec 99% Jan , Nov A :' A *551% 56% 1331/4 133% A V: ,52 " AA51 9% 4 ;21 2 26% Jan > Dec 52% .. Dec 19% 15; Jan > $ per share PabK;lngM.^.X.w._No par Capital 9% 9% • 2 A- 33% Jan 21 Campbell W & C Fdy No par Canada Dry Ginger Ale common—5 A $4.25 preferred No par Canada Southern Ry Co .—100 64,400 ... A ' 451/a 11 231/a Feb Dec 80 Range for Previous Cannon* Mills^».—No 31% •>■391/4 Jan / 37% Jan : Jun July 106 15 130 Jan 35% , Oct Nov 10% 40i/4 Mar 15 Range Since January 1 Lowest Highest 300, *59 15 47 AAAA 500 v% 591/2 Feb 112 Jan STOCK " > 59 37% A 37% Mar : 99 '/s Jan 100 No par 59% NOV >' 451/4 55 Apr 10% Mar 241/2 Jan —No par — A > 351/2 Jan Jan 6 Jan 14 251/4 Jan __5 Calumet & Hecla Cons > 240 , 57 ' ' California - 650 : 64%; 31 *75% 30% 73% *57'A 58 133% " 51 55% Jan % 28 . 3 1 Apr 1 / 43'/4 Feb Dec Dec Apr 15 21 Jan 109 Pap 22,100 .1,800 2,500 r 19% A 551/2 133% 51 79 58 66 *19% 56 133% 31'/8 ■ *64 19% *55% 52% 30'/a 79 21% 66 „ '19%; 133% 31 591/4 21% 56% 21% * 56% 53% 59 21 A:'; 56% A: 46 % 429 Feb Feb Dec 40% 191 17% Mar 8 85 67V2 33% 9 Feb A.75.1/4 Jan., 100 A < 5 % preferred 60,800 A Callahan Zinc-Lead ' *64 19% 30'A *75 :*56':A 57 20% 66 19% 19% 66 A 56 A •133% 134% 56=% 7V/i Jan 53% Jan 3 - > 17 23 62 Dec Dec ' 11% .'•12 : : Jan Jan Dec 78 361% ■A> 51/4 A 42% 6 56 . - 131/a Jan —10 220 >; . 7 . >•54% Jan 34% Jan • Dec 109 >. 24% July 114 A 11% 2 » EXCHANGE 3,600' . ,,55% 6%' 14 14 V 20 - 38% Jan Shares 45% 55% 6% ' 56% 21. , 44% 56 4 : ^ *56 A A 43%' A 55% Apr ' NEW the Week # per] share ' ' *36% ,. 571/4 57'A 52% 40% Jan 3 39% Jan preferred—100 Feb 34% Jan > 37% Jan 90 Jan 95 \ 4 i :•> Apr 49% -190% Jan 3 30% Jan 18 17% 9 7 181/2 Jan 108'2 Jan common—. 'A'v> /'A.: « " 45% A *55% 6% > 7 93 > Jan / 3 . 28 17- 73% Jan 12 22 Va Jan parA 33% Jan 112 '/"A/''.A'';A- Sales for Feb. 15 share) Dec Xl08% Mar 6 ^ Friday " 42% 23 Jan Jan - 1 preferred ' Tuesday Feb. 11. Jan A- 21 '•22% Jan ' —100 Bldg 1% Bros HIGH SALE PRICES Monday Feb. 9 Dec 18% 3 120 V Jan No par Participating preferred Byron Jackson Co 800 v. _1 Copper & Byers Co (A M) 120 . Dec 32 % 46% Jan Jan-3 —100 Butte 5,000 34%-j ■■ Dec 251/s Jan A 68 par common preferred 4%% ' 9i/4; :■ 331% 107 34 34% 9 38 Jan 20% 113 A341/2 Jan 48 ^5 1 8% a 32% A 33% Jan 13% 8 28 36% Jan par — Terminal Butler 2,300 ; .No 1 Bush Term ,700 , Co preferred Bush 50 - 23 15 Jan 1 Burroughs Adding Mach 2,100 291/4 *109 4% 13,500 v r 89% ; 89 -< 28% >: 15 Feb 108 . Dec 41% Feb 3 > Nov 72% 30 7 Jan Dec 155 A 35'/4 Feb - 9 Co Burlington Mills Corp 9,300 ;/,/ J-iij.z: 4 13% *92 111 ' Saturday . No 41'% 19% Jan 10 No par' Wheel., Buffalo ' 111% 42% Jan 48 351/2 Jan No par Bulova'Watch Co. Inc., >>-.:■■><A<> $ per share Budd <i£ G) 17,100 *108% '111% 127 29 A IIO1/2 Jan par'r \ 32% Jan ^100 — Billiard -. LOW AND 1% preferred— 1,700 A 19 15 77% Jan : —5 3,800 19 Vs.. 19% 1611/4 Feb .47% Jan 3 '53 Feb 13 par __15 No Co 43% >: 34% No 42% 28% *106Va A' ' Bucyrus-Erle 4Ti:':'f Dec 98% 2 100 new,. 42% 88 8 Co •41 %< ; 111 *109 Shoe A par No «ar ;'4i%: v No — 42% 92% C 86 % >!A2 8A 27% 41 No Brooklyn Union Gas— Brown > New_i——A--2.50 *108% 13% 4 Co! preferred 41% 19% .92% S per share 3% % 41% '• 41% 13% 14% 26% •.■*41%;:;;!41%:' > 111%, 18% 27 41% Dec 28% Jan 8 8% Jan 15 : Bruns-Balke-Coliender 97% 35% Aug ">441/4 Jan- 4 A48 Jan/ 3 2.50 Briggs <fe Stratton— 1,000 25 97% Aug 17 Jan Airways Inc_— Dec 65 16% Jan L 3 ; 24% lo (assented)-100 Dec 1091/a 22 % Jan 4'4 179 Nov 30 Sep 6 2 36% Jan v _100 * RR 6,800 22% 24% *40. 41 % 42 ; i 63 Jan 14 21 A 62 Jan 19% 5 291/4 Jan-. > 47% 2 • 104% Jan par 103% 17 11 17 Jan 67 6 Jan Feb 401/4 Jan 38% Jan ; 3 ,__5 Dec 28 Va Jan 109% Jan Corp tBristol-Myers A 126 98% > 26% ■•■ 42 AO, *124 " par Dec !• 35 113% Jan 72 700 36% 213/4 126 22% ,97% :A 36 ■v 21% *124 > 22% 99% 36 21% 22 127% 43 " 36 35% A 21 127% *125 25% > 35% 21% 127% No 24% 29% Nov ; 3 331/2 Jan A 30 Jan Dec Dec Dec " 58 2 22% Jan > par _5 Jan Jan 17% 32 • 14 ■ > 1,000 • 24% Feb > .160 34 37 33% 136 112 3 Jan ' 36% ••: 37V.*: 42 Jan Feb 43 1,400 A Aug 114 7 Jan *31'A Jan No par Brewing Corp. of America Bridgeport Brass Co—.i Briggs Manufacturing 4,500 112 35 14 4 521/2 Jan 28 29 6,700 43%. 112 v 108% Jan • par 156% 16,500 51 ' 35% *125 *98 33% 37% 19 %: 15 Apr May i 88 54 \ 39% 111% 33% :: 19% Jan 110 . mmmmrnrn 9% Aug Boweif Roller Bearing ;Co—r^A4-8;A ,,V;V .A ,* ' <.*' 1 8,200 • 50 39% 33% 18% . 50 *110% 111% 33% *75 AAA. 153 v 53 32 43 -140% Feb * 0" mm • 18 Branlff ■ ;30% 18%: 49% : 39% *110% 82 18% 50% 56 54% ?77% i" : ; 15 12% L^_a (The) Maine Dec 5 31 121/8 No par preferred Boston & xl06 Feb 20% Feb 28 691/2 Jan No r— clasB A Borg-Warner 900, Dec 28 149% Jan No Borden' Co '8,000 ! : 55% 25 Bond Stores Inc common—i—-—I A 4/2% Jan 231/4 Jan 931/4 Jan Aluminum & Biass Amt Co 36 33% Jan 100 Class B - 51aA . Bohn Bon 7 351/2 Jan par Boeing Airplane Co___ 800 80 51'A 101/4 12,000A A 62 *180 > 50% ; A 69 107 . 67% Feb 3 Blumenthal & Co preferred_;.>-100 * Nov 3 No par Mfg Co Co Dec 47 3 1 No Laughlin inc— Bloomingdale Brothers,^ 70 68 & Decker 24% Jan 25% Jan j. (Del)„! Bliss & 50 A 62-', 38% t'l -A > 195 -A-10% .. - 29 30% No : Steel Blaw-Knox 100 -A 31% ,r 31 Black 1,800 45,500 112%?:. r 107 38% x50% 52% A 63 *180 195 A 107 38% A 38% SE.%10 5--;® 30% : v. A *106 *62 107 A '• A44 AAA. ■ *112 68'% 29% 68% 29% 68% i 30 34% 44 112% /A *112 / A 41%:' ■ *33 ' 29% Loan Feb 141% Aug ZIV2 •26 % Jan 100 7% preferred Blgelow-Sanf Carp Inc 700 20% Jan • : 15 17 110 • 7 - 25 106% Jan 3 Jan 1 Foods Bethlehem 400 711/2 29 Vb ■A 34-'3: *33 49% 9% 28 % 27., 1611/4 A 1611/4 34% 51% 61 1 2,000 26'/8 4 .1 Jan 47 > $ per share 16%' Jan 10 0 Indus ;• 34i% Feb 4 Highest $ per share 2 *.1 Aviation fleneiiclal llO'/a *180 51% 9% Bendix . 2,600 25% A%63A> 38% .54% A 6,100 ;.'■ 10734 *106 62%" 195 : i f 25% 68% 53% 383/4 4 25% Feb • 39'/2 Jan-. 5 127 No par Co preferred 1081/4 29% 70 106% *180 54% 31% 38 - Lowest $ per share . 2 14% Jan 20 j - Fear 1945 Highest - 106% Jan 40 105 Jan 26 __50 Corp Howell 24% *112 38% 39 & 160 A *43% 62 , Aircraft Bell 39 30% 106 56- 31%- 38i/4 No par 1 Belding-Hemlnway: Bell 26 % 45 *68 55 311/4 56% Jan preferred—>_100 1,800 : 106'/4 . 25%:;.... *33 112 A' .551/2 401/2 Jan Corp 6,700 4'A% 37i/a ii 4%# Aircralt * 113 541/4 • preferred Shoe 107% 72 34 70% *110 20% Jan par Creamery 2,600 . ,___l No : "21% Jan 25 Inc._a * $ per-share 5 Best & Co ♦159 A 27% A 106% 64 A; 106 37'/2 25 A 73% A"! 40% y *44 113 30% 541/2 A:- 31% 105% 162 112 30% ' 25% 110% 25% 44% 112% 30% 'A 36% A > X28 • *110 31% 37% 34 : - 113 53 ■ 32 •, 73 y2 "A- 40% 35 *112 55% *159 74 40% 28 *111 25% V • 111% 161 >> 30% A' ■?' 29 % 27% 107% ; 109% 161 ... f A *111 >A 113 31% . *37 ? 31% 28% .113 r.fi 31% A 30% 29% . Range Since January 1* •?«»• .» ; / Beech Creek; RR Beech-Nut Packing Co_ 100 . 31% 28% .• ' 31% 29% Beck JtJeech 17,500 42 vA-' 42 *139 Cigars $4.25 ■ 50 :v ,'Co-A Oil Bath Iron Works Corp^_ 8,600 . - 1051/2 20% < 110 140% 1401/4 A. 21 21 A 1,600 651/a 105% 18% :aa,. 145 *139 J,,21% ' 21% «. --"A 443/4 >: 64% 'A IO91/2 ':/■/ 107% A X1051/2 - 34y2 44V2 65% Range for Previous * ' Lowest A-.. - ^ Barnsdall • a exchange A 12.100' \YOrk -Stock new ;-'v; 311/8 43% *109 ShareS .- • 24% 30% 65 -•■ s v« A 23% 23'/4 42% 110 19 $ per share 30% i'. ' 65% 18% * 145./ AA *139 42% ■•106% A'.A x23 30% 42 >65 'c v *109 >19 A- 231% 22% A $ per share A Sales for thd Week Friday ",v Feb. 15-A Feb. 14 O $ per share V 110 - 18% 145:>:A 21% 65% STOCKS Thursday ,, *$ per^hare RECORD PRICES ."&y* eawesuay •>" <S Feb. 13 > > a>A 44 *106% 18% J.9% *4iy» :;43 •*>. -v SALE 30% *42% % 65% . ♦106% « * 30 tA 66 iv: 110 -65% 423% HIGH V:A'V."4f'tteiday. A & \l A;?:-: Feb. $.per share <23%/;24 ■ ' AND 5 ■:& THEICOMMEHCIAI; W&WANC1AV,WRON^E;;# 1 „ ^Monday# February; 18j x 1 $4 6 Y ORKX STOCK/RECORD f*£W • ., $ per •108 67% '673/4 : *200 230 -X 112 . ,*108 ■112 ■:.//:■■. 112 112 58 i89 • 41Y4 57 Ya 55 , •64 Y* 64 Vi 45 53 112% .21% #■. 37 : 37% 34% 35' # 34 •••, ' 20Y4 / 22 Ya 24 37Ya X i/Z/Zx 36Ya 34-3/4 xX#x ■:'./ , Xv<,,: " #48% 43% 43% 12% . 27% *104 28 27Y4 28 x:; 523/4 , *113 4% 4% ,X: 2.1% # >. 4Y8 128% #125% 21% 127 Ya 53% XX "53 >X #•■ #*42//:, X io # 43 10% •■; 35% X 35% XX .35 ■108% X 10.8 Ya 109 18% .47/:: 30 V 42% 42% 114 17 • V X 22% 37 Ye 57% 59 29 - • 473/4 29% 30 33% 33 33% ;. 25 24% *35 . . 6*4%. > 1 56 56 24 Y<» ; iV'V '.64% 35% 35% : *200. .' 201% 11% • * .7.X : ■ • • , 12 Ya "11% "7%" ,,.6'Ya / ■ -7Y4 X // ./ , V 27% . 54% . 56 41% 4iy 108% 109 V< ;,f 25% v% ' LOW AND x •108% 109y2' •127 ; 137 51% 52 201 Ys . : Feb. IS - :, share 47'- 42 40y2 - 23 :■■./■■: ■■•43. ' 'v/V/.; 2134 v.-.39.'/ ■145 //;' 144% V 74% 75 vx ' 10% t i 11 , 32 f ■ . '/ 140 - 40% 41V4 May / Jan 23 67 Jan II 5 59 Ya Oct Dec 183: Oct 72 Dec 31 Ya Sep 53 Ya 135 "Nov 14 Feb 49 Dec Jail 10 101 Ya ,Oct 106 Dec 2 / 55 Y4 Jan 14 343% Jan 9 116 Ya Jan 17 110 Aug 233/4 Jan 29 14 Nov 24 Ya Feb 11 18 Feb . 106 . 3 36 Ya Feb 13 41 Jan / 32 Y4 Feb 14 39 Jan : >32 / Feb 14 38 Jan '42Ya Feb 14 47 13 47 Jan Jan 24 Feb 9 Ya Jan 109 3 14 4 110 Ya Jan 106 Ya Jan . 383% Jan 41 5 . 26%-Jan 5 Jan 30% Feb . Jan 5 X 54 Yi Feb 4% 14 118 Y* Jan : 23A Jan 123 x 34 7:41" Feb 14 6 Vi Jan • 29 Jan.'#/,: 19 6 Feb 6 .24% 199% Jan 28 106 X. 19% Jan 16 Feb 29% "X Nov 1243/4 : / ; 39% Nov,:# Oct.// 50 »• 3% Mar Nov Dec 7Y| x : • / 34% Novxi Jan.- XX.. XX Sep /■]' Dec XX 34Y, Nov 48 '• Jan . Dec I i ■■■"'4% Jan 26% Mar x' ] Sep Dec /X 25% 22 ; I x Dec 53 Ya Jan 17 •: Oct n 28 Jan . : i 116% 28% 46 Va Jan Jan ; 2 ' V : Nov:./1 Dec ; f Oct 41% XofVH 89 36 32% Jan 7 3 108 Jan Jan Jun 107 Y» : : Jun Nov 110 Y4 NOV Deo ' JO®/* Feb 4 , 6 37 Nov Xl6% Aug XV 10 55 . 4 . z X 39 & Jan XX Dec Feb /; 1 353/8 Jan 2 Jaa % Feb 132 / 2 14 423/4 Jan . > Xv" 4 2 Jan 32% Feb ? 110 i 25 % Jan 11 21 Ya Feb 13 46 3/8 Jan1 26 12 V . Jun 46 Y< 50V4 50 H: 11% '; Jan1 36 8 Feb ) 84 8 47 50 Y4 Jan >90% Jan • 29 113 No par No par :> i Jan 18%. Dec '31X" Mar XX/ 14 Jan ! Dec 115 31 ,••■ Mar 16 102 % Jan 23 50 3A 28% Jan X;/ 25% Jan v;X.' 28 14 28 Jan 29 / 42 29 Co— 50 Y4 Jan 4 45% Jan v x 39% >'23 *'4 800 21,500 , 14,700 109% May /, pref 106 67% X v 4,200 202 103 -20 45 Y4- Dec 35 Ya Dec 38 Jan 9 25Y4 Jan 40 Y4 DeC ■■} 47 Jan 8 17 Ya Aug 45 . v 115 Feb 15 ■>, 45 Jan 28 153/4 Jan 12 109 Ya Jan 10 13 15 Feb 44 Jan 8 110% Jan 2 • / X 15 17 Ya Jan : 52Ya r : 26 r. '54 21 Jan 3,000 X ;* Coty Coty Sales for $ per share 2 130 f5*io8y* 112 • Jan — — 10Q - 199 Jan 46 x /J *125 ; -x NEW 14 7 7 304 Feb 4 x 41 Co X YORK 56 21 y4 Jan 29 Ya "16 19 . common — ™—Z5 75% 48 142 7 - 10Y4 -31 103/8 ; 313A 32 . 140 *132 40 x *25 27 * 27% X-*25 XV; / 26% *132 ;vx: X 6% Jan 21 / x. 10 Ya 32 26 ' Nov 5534 ;■: ix 19% Decv; 53a% Jun':/? 26% Dec /; 19 21 38 Ya 600 30 Jan 3 Jan 29 101% Aug 58Y4 Jan 108 70 202/ Jan 25 182% Jan 199 X109 - 12 Ya Jan. 28: :/ / 7Y« Jan 29 1 X 43 Feb 25% , • 24 Feb 13 62 14 11 1.000 s Cushmhn's Sons Tnc 7% / Outler-Hammer Inc pfd 7 53 Yb Feb 6 Jan 2 3 '46% Jan 2 28 Ya Jan Jan 165 5 43Va Jan 4 2 X 35 - Jan ; 48 Ya Feb X 114 21Y4 Feb Jan 50 Vi Jan 104 3 v 17 73/4 Jan 2 Jan X Dec 28 : 5 ; X Nov .XX 51 Sep Apr .; '/ X; X X Mar 122 Ya 27 24 Ya X 76% Feb 15 59% 12 Ya Feb Jan "3 5Ya Aug X // / 18% Jan 4 34 Ya Feb 3 4 129Ya Jan 30 35% Jan ; X Dec 56 154 Apr 2 Jan . 30 ( 43 Jan 118 Sep 25% 29 Oct .' Oct 75%: Oct ' 129 Ya Jan 100 Na par Sep Nov 102 Jan . 9 X 51 Vi X130 / Jan 99 Ya ' ■ Nov 42 f Dec 29 'X Dec X 29% 2 24 X Jan Nov 111 Jan 25% 30 Jan Jan .73 Nov >X / 56 146 Ya Feb Nov X 52 Ya 124 : Jan 145Ya 8 X 26 21 112; Oct ,:/ 14 : 7 Jan 59% Dec . Mar 16 13 142 87 Ya . 15 41 / Jan ■ Jun . X.25"" Aug 8 10 Feb Jan 106 X 35% 4 Feb Dec 343/4. Dec 41 lOOY* Dey 5 127 Ya Feb Jan 253/4 Jan "39 993,4 Jan . Class r A™—w_. ———1 x 2,100 37 8* Feb 110% Feb 3 3 160 , $7 preferred —— No par i Prior preferred——ww—No par Curtiss-Wright 1 4,900 x 40% /Jan 110 ■ /X XCurtl? Pub Co (The)™——No par A 108% A Jan > .49% Nov X #"-'53 ■:. Dec 20% Jan !/■' 30Ya Dec 6 35 :Jan 21 .44% Jan Jan 54 % Feb ' C'mniuffbam Drug Stores Inc—2.50 73,900 140 40% preferred——100 Highest 43V4 Dec 28% Mar ;. | $ per share 99%" Aug 9 51% Jan ■ • Jan X X : I 115 / Dec 7Ya 3% Jan 30% Feb 3 '; : $ per share; 15 109% Feb 2 / Dec : Range for Previous Fear 1945 . $ per share > ;. Oct . # 13 .v; Dec Jan 6 Dec . 71 Lowest ■ Highest X ;Jan Oct: rj 38% Jun 35% Jan 14 ; 107 Cuneo Press :Inc——™_'~™—8 X 300 .#64% •Get'4# 52 Ya Mar Jan 11 2 29 7 % preferred —-w™—™,™—100 Cudahy Packing Co™™™ ™3Q 4 Ya r/e preferred——— .—100 ,; 23,800 140 32% *130% 39% j Dec I; Jan 3 54 x Cuban-American Sugar™—™—10x U Ya 32% x - > X NOV i j 28 Y4 Jan Jan 38 No par Cuba RR 6 % 700 -:;76%> 76%. 140 - 39 39Y4 39% 40 103/4 XX AX NOV 12% 67 Va Jan V 2. 107% Jan 32 Jan Six 5%> preferred——™—100 2,200 142 '■ 76 XX Dec .43 % 44%* - X Crowt xlOO . 24 76 X $4 2nd preferred- — No par ;/ Crucible Steel of Amer™—-No par 40 ; 48 23 75Y4 10% ' Crown. Cork & Sea] $2 preferred ———, v ; 49 142 : .20 July X• 49Ya Jan IBYa Aug 27 Ya Jan 3 . 38% Jan 21 Cream of Wheat,Corp (The)— ™2 Crosley Corp (The*™-—~—No par No par Zelierbach Corp—. ---8 $4.20 preferred ™-™——No par ■; 23 V 142 Oct. 15 Jan Range Since January 1 3,600 ; 46% 104 ' •47 144 X- 144 . ; Dec X ' 59 % Jan 47% Feb , X Sep ■ 17% 31 ;'7x|7 Lowest 500 ■V >22% 22% ! Dec : 113 X A Dec >'29% Jan :» '• 70 27 y8 45 ; .3' . XX 23 V* Feb Jan 21 STOCK 3,700 42% 104 50 *43 22% 2,400 6,400, *165 -VVx 50 , * preffrreo.i-iiJ i./—100 :H ■•3%^?, 2,900 X J 114 27 r; '45% 45 48 X : 42 27% *102% 104 *38%.: 40% 39% 75% 114" 41 26% ; Dec 57 ; $ per share Crane - 3,000 130 •/ 53y2 52y8 f UZV* 113% ' 144% > Nov 109% 9% Jan 29 v Jan, 11 EXCHANGE 400 : 33%;j.34% 38 y2# 39 1 56 -V 57 . 17% 106% July 10% Apr 18 613/4 Feb 24 : 3 105% Feb 5 64% Jan 21 25 Internal Corp. - 11.700 «x:!'.52%:"X52%- 51% 51% 8Y4 Jan 933/4 July 37% Jan 6 8 ;/ 41 Ya Jan x 3 62 Y4 Jan 7 34% Feb Shares ; ) 20 Inc—™^j the Week 34 X';X 34% 33%: 'yX. 109 y2 v v 1083/4 109% *125 x z: 40%' ' 14 . Jan 22% Jan • 63 7 Feb 52 Y4 Feb 183% Feb 13 Jan <vl7Ya Jan Corp.—i-l' Products. Refining—; Preferred. 5,000 V 52Ya 33% I Feb Apr 26% v; X Dec /v 115 IO8Y4 Jen ; 1133/4 Jan 15 3 . ./ 36% Feb X 40 8 —50 V .48 Jan 21 54 /- Jan5 . No par Bank;Trust Co Exeh Corn 20 . . .- 5 X-;?1 / 4 , 13 Ya Feb ; Corning Glass Works common—-5/ / 3 Ya % preferred 100 160 / 68 % - /- Jan Jan " Corn 780 2,800 ;/ 12 y8 ./ 12% //V 7'/a /( 7Ya , 31Y4 17 Ve 112 % Jan 7: 4 l series— 5% 5 33Ya Jan 17 13 3 48 X ' .-8 ? Cornell-Duollier" Electric 6,100 ■ If- 36% ;" -*201 ,- Conv 323/a Feb Dec 22 11% July v 13 X37 X Jan ,_No pa* -No par $3 prior preferred—— Copperweid 8teel. Co_w— / / Feb 39% Jan v _10 Oil of DelJ Continental Steel Corp— //Cooper-Bessemer: Corp—; 110 26% 6»|, •;§63%'§ ,105% : Continental ; 6,600 '.x/1/- 59 -. I 290 23 y4 ! 29 $3.75 preferred ™— No par Continental Dfamond; Flbre™n.™™5 > A Continental Insurance™/..; ■x Continental Motors—™, 800 36% 39- -*108 % 140 *132 40% vV :V-i Can Inc ;/ Continental 8,100 ; x X 17% Jan 21 A 42% Jan .18 ' 11 10% 31% '31% ' 31% 130 . » 60% ' 29% 34%:' mP- *165 , , 8,700 ' V • - 42% 33% ■' ' 47 100 ' 173% r 26:.:-,' 5.633/4 25% 12.;. x.- •38% 46% 40 : Xx - 29 Ve 0: 54 %x 55 Ya 102 22 . 11 13 - 4,200 67% 41 33%: 33%; " 102 3,200 6,400 46% 112 , 22 108%--; *108% 1121) 108% 26% 1 ■ 46 •; 103 ->*57 XX $ per share ■ / 108% 47 •132 $ per €1 V 53% 26% 230 - Thursday; •'Xv/xx yi-jjay. Feb. it J Feb. 15 v, 42% ,42% .1 102 /.v : Edison STOCKS Wednesday . 145 Jan , Feb 16% Jan Consol Laundries Corp——5 Natural Gas—, ^.10, X Consolidated Vultee Aircraft™—^1 ! / -$1 25 conv pfd— JVo par r Consol -RR of Cuba 6%. pfd ™™1Q0 Consumers Pow $4.50 pfd—No par > Container Corp of America™-.—20 Continental Baking Co No par / $5.50 preferred ~No par HIGH SALE PRICES 56 :.108% 42%- ' 75 i 115, .';X44xXxXX -*54% "55 54% 7 .-:■;•'■ ■■,•..7-X 34% 39% • •.- 3,800. x 143/4 ■107* X 12 ! 26y8 102 ;■ • 4.400 ? 59% V 201% 201 Y« 39% 34 v '*165 •46 35 Ya , 200 6OY4 Jan . 22 Ya Feb Consolidated ■ 25,300 > 22-% . •165 . 100 X >'Jun ''-•50/ ' Nov r 11 112 , 3,600 ■ 36% .373/4 XX; .63y4 67% - '•y. *125% 135 * 51% 'V. 51% 114 ;r /:113% 113% ' Jan IO43/4 Feb Consol Coppermines Corp w-5. Consol Edison Of N Yx.--wxNo; par x $5 preferredxxw ^No par . ; 500 ; i; 58% : 36 *106 7 '$ persharei ". / 63% 35 3/4 106%. 68 y8 V. 6% 34% 35 26% 700/ 1,700 60 y« 22 35% Feb. 42% 108% 41% - I/f. 34%. •38yss :"39%'; V^vft38%; 55% '65%. 56 • 53% - 53% ">■ .'■•52' •41 Jan 34 Y4 Oct 68% 'Nov llOYa 'Apr Apr ..10 Inc__ Consolidated,Cigar— 28,600 43 46 ;v.j / 56 x 25% 12 . . 21% , / ' •113 . 34y8 17% 28% '11% , ^ 'Fob- U $ per shareper share 34 Vi 53Ya 4 May v 93% Jan !# 5 ; ,44 Ya Feb V44Y4 Feb II Conde Nast Pub Inc_.~x._™_No par 20,200 47/ •111 57% 64 y#. 201% ; V 46% 56 21%; .# 68 Tuesday x;Kt , 156 • 106% r *200%. 201%-. . 12 Feb. 9 ; .44 1: Jan IO6Y4 Nov, X 140 S6 preferred series—- -—Na par Commonwealth 700 18 Ya a 14 59% r, •59% ; 21 Ye ; 22% 36% .;37Ya 35% 6934: 69 • •34 7/57% Jan Dec > 115. 109Y4 Jan 7. 16 -X —100 4,700:: 1 Congoleum-Nalrn 30% 43% . . 17%: 63% • . ■'Saturday;' .. /I; • .-113% s . 112 V 55 : . 56 x;; 25 .. 106 Va *105Ya „ 21 ij; , - 103 ,27% 54% .V • V 107 17 ' 65 X- X.V 35% . 106 y«- -68%/'69%. ; 25 Ya :>:,■ : 65 : •105% Jan Jan v Credit preferred $3.60 3,100 - 33% 41 Y„ x 14% 56% : 53 "V ■/ 27%' :' : 43% 45% 22 % 37 363/s X ■/ 55 22% v 22; 57 v%. ..66 lOSYsr Jan 24 100% Jan 10 156 .100 ^100 .. commercial 33,700 30 114; v, . „ •110% W. 59% 21% . •, 29 .i /X/: X;-'-55X/:: 227/a v . 105 Dec 205 / Jan 2 . 62 Columbia Pictures New ' 17%. 59%; / , ' >22 Vi.'- 112 16% '57%#, • # 55 55 : . •56' ■ x ,, 10 v<:: 46^ ' 41% ' •103 107 v -5 44% .46%, 22%;,/ 29 14 •lOS . , 43 •110 17%, 37% 113% .13% vl4% . 18%. 40% •113% 41 :V:. 42V2 V 60 Ya 22 Ya • 29% -v; t,'Z 42% 113 Ya/ > X/37% ,'V' 57 : "' 29 X 10 Feb 89 8 113 Ya Jan .. Jan 26 52 Jan 178 Y4 Jan 15,600 ; /Commercial Solvents——-No par. Commonwealth A Southern—No par 272,400 „ 42 . 10 •18 46 113 14 Ya .60Ya 22% Xl77/a & 45% 32% , 107 r-X 46% . 18% i ' 3434 35%v. 108%. 109: • X 18% . ; :44 %••'.. - ,*110' ;..17Y8 37% X 41% . , . X72Ya 2 Columbian Carbon Co. (new)-No par 300 v preferred series A™—. Dreferred. *>!4 .4,700. 53% 36. ' ;,35% 7 , 1108% 109 108%. ;4oy2 113% .43% .61% f 41 9% # 9% 35% 34% 45.y4 ■42 •13% : , •33%# t*105 < . 114 Giya; •; 18% 5/. 29 41 Ye :.;/ -47 46% • 30 ; 113% ; •105 .107 •no»■ . . 33 -. 44% 14% 14% 41 v'- 35%;/: 53 : # : :-45 V' ■ X 29 Ya ; 43% 41Y* 108 lh :.,<#■ X >46% 33% 113% 35% 34 Ya 18% 45 29% " 109 [l8% / •-. 32% - 52% 35 Ye 6% 1.6Q0 : ' 33 32% $ per share Jan ' 49 'iX:V':-:>,>VX;/X.Vv/ 18% 46% • 52% ■ ' .. 126% .127 Highest $ per share • Jan —2.50 —— 2,300 4% ,'.>/X:'-4% .' ".4% 4% share : 152 Ya Jan Columbia Gas ds Elee™. -™_No par ./ ;t 290 22 Ys , per 108 . 99Ya-Jai) 3 /56% Feb 14 37% Jan 4 ■.*', com Glass B 2,700 x; 116% 22 , 125%- 128 V 32% 32% 9Ys 0 , , 2 • , X , x 78,000 " - X 35 51 % XX c 21% 5% 1,600 40 /# •112 41% 43 10 Ya . 21% ; 3,600 106% 39% . 114 52%,' ■•,'/t' #>#/Z;34%" 10 35 .28 X 33% 53 43 IV 13 VV 105% 107 4% non-cum 1st preferred—100 4% non-cum 2nd preferred 100 Columbia Br'd Sys Inc ci A 2.50 ; 460 / '■;■■"/■ 28 ..#/Zv; 27%- 28% / 52% 54 %// 52% 113 / , x< 32% 35%'XV ' X-34% 35 # 590 22 • ' 4Y4 4 ' ,1253/4 127 . ,, , • 34% . # - , # 33% ; ; 34'A, X 110% 110%, ; 140 , ''-"*3% 43' 39% # 52 ;■;/ .115%#/ 21Ya ..,21%.. i: X 4Ya 33 39% 53 52 Ya , *113 ., 110% 105% ./27.Y2 ::./■ ###/ 27% . ,22 Ye 33% •52 ; > X/XX 53 *» 12% ,#X# 12% 11% 105% .39Y4',;/: 39 ■• 115 Ya X'.; 125; 33% . 40% # 38 •32 G Jan. /'..'37-%''JauX2X-X preferred.™ ....100 Colo Fuel & Iron Corp new^No par ' v/' 5% cum cony preferred™..—20 Colorado & .boutnernx— u.luu 3,700 X: 43% %/'?'• 42%- .'43.. '■■;'/" 110% Ya/i 105 Ya 24% 33 . 32% 44-: ' ; ' 110 . ■ ; 21% "104 32 22. 23% *36% v 14.300 21% 33 y« 32% v: , :■/ 12 Ya 11 Ya #110% 39 Ya X 53% 114%. 114% 53 12% X / 110% / 105 >#//■ 12 110% / //'/'"XX 42 /: - ; 33.% 10 38 "43%;#: V 42% 42%/> vV42% 150 , 1,300 : . $ 71 Ya Jan 18 . •111Y4 Jan 31 por VOi«ate«Palmolive-peetx.x.w.NQ par $3.50 prelerred No par Coiims at AitcmanNq par 6,700 108. 55. 21% pfd~..w.No .13/ Coca-Cola International Corp No par ni2% 114. 23 y2 Graph Bronze Co .(Tliel^~x.l ^.Nh par —...100^ Ooca-Ooia Co (The)~...^~jVo par ; Class/ A,_— .___~.No par 320. .46% 54 El piuett Pea body <Ss Co.~. Preferred /'■' -—'X 46 23 . '65 '• •106>/a • 114 V; "36% 33% 33% 43 Y4 42 Y4 ■ • 37Ya 33 '- • 43 3A 42% 110% 110% •104 ; 105% 40% ; 40% # 33 Ya:. / 42% 43% 12 #■".33% • 1,100 . 20 % 2VU- 24% 37 Ya • >3% .21% 34 Xr 24% • :: 24 21% 23% 199 198 53% •112% 114 X *112% 112 Ya 20% 113% 10 C5 100 53% X V 46% 106 52% 52 ;; 57 158 *1185 45% /■'•■' 1053/4 105% •# : ; : ~/: Lowest //*•• 170 ,105 tipectal gtd -♦*,« 8tock~^^~....50; Climax/ Molyhdenuraxx-x-xWNo par 8,700 1,600 • 65 "1185 44Ya .' 45 x X, 197 64% X 57 ' Ilium $4.50 64 Ya Feb 100 Olev 20 v •154 55% 158 preierreci^— Clev v - Range for Previous : Year 1945 : Range.Since January 1- ' : Lowest > ■/." Highest. 'i..v ':$ per share ■ . x; 5% ; pref£rred-:~T_-~..._-..«.100 ; clev & Pitts HR Co 1% gtd—r__50 42% # 4i% 41% 54% 64% 102 v 100 1,000; /#:■ •56%-.: 57 % 197 *1185 V "■ r: X'; 53 55 54% : X 250 iX par .5% "108%; nooy8 • ".V,,.." • Clarklquipment—No, ■ v 65%;:' XT *108 , >;■>;//,•, /XX;'V. v;..;-.'/-'XAx-,"'.::/x.;X;-' Par :/;.XV.:Y.-- : 800 112% w ; 64% ; 102 •154 , 198 64% X >■"■■■ 106 ■ 44% 106 10G •112% — •iooy8 ' /;-;■' 55 156 198 i 200 192% 45 44% 54 % 156 112 *111% .63 > 108% f Shares \.x x 230 •108 112% 112 •62% •108 56% 57 v/V v 41 41% ' *1185 •105 V:; 158 *155 ■ /Z' •200 .: EXCHANGE V O. O.; C. & 81. Louts By. Co. 68* 1 108% ; a 102 m:/; •56% \.40% •;v./ ••66% 112 V . ' -> 230 it 3 •lOO Ve XXV, ,58 •? ./■ 41YB v " *1185 -62 X •108 108 3/i / •200 •108 . 102 •♦56% 64% - t 112% 62% 112% . 63 *108 191 64 63 X *100: 58 158 • ' >;"■ 63 r •108 108% •100 '102 r •56% '58 "x 41%; 42%; 63; i? NEW- YORK. STOCK : tht Week r-$ per share ./# $ per share W: 66 64% Sales for Friday r, ■/ If:. J #;,.:■ X/Feb. 15/r#'o •65% : 68 //'■^x##;■■:■'■,"'■■ *200; 230 .x,;.;'/ ■v'wr-u:;r ''''^08 ,112- C,; xx'X/^ ; lil%; 111%, •154 Feb* ; $ per, share ;i •;-/■;"•># 7 230 • -"v Xy per-share. ■67%; - Tuesday, ■ share •65 :•200 Feb. 11 ". -Feb.® STOCKS' Thursday Wednesday /• •/; Feb. 12Feb. IS V/v Monday .Saturday. PRICES HIGH SALE LOW AND . Nov 9 30 Ya Oct 125 :x Oct ;; XX 37 Va Dec Apr ' ♦27 ; 28% 27%, ' 27% X 112% . '47%X 40 X X *34 Ya 47 • 78% *74 33 Ya ZZ 33 44 48% . 48 48 30% 31% 89 54% ;; *. 44% ,30 / ' 26% 55 v XX 1,09% / 44 -: /45"/X;: ,55Ya 55% ' x3o%; .28Ye . 92 ; . . ' 28% 27% .27 , 43 "X 43 53-, pj 95 364 '. ; 116 Aug 26% ' ' : •108. *29/ 35 ; 27. 27% ; .*i29%xr-o : *116 23% • : ,04% 95 i62 160 Ya - ■ 27% 129% rll6 29% - 129,% 116 23Ya ,105% 108% »w Rpfii : 26 Ya page, 919. . 27% 110: 110 233i > 96 X V *158 X .163 "116 / / 117 V/X ' •;/". *28 Ys 29 -"33% - 33% 192 ,189 ,130 130 115 % . 29 "191 103% . 1 '53%/ " 6,900 x . " •29 . • 35 19 4 Ya T 129%" 129% Z 23' 104 - 116Va ,23% 108, 43% Jan 28 Ya 1003^ • / Jan 4 *3 t ■ A" 28%// ■ill' ; 29 -197- - r V -r 23% 111 115 ■: XXX % 36 129%" 130 115 r 29 497 *35Y4 • 4 50 Ya Jan 29 X 16 y4 Jan 16 X 14 3 Diamond 6% A new.—12.50 par tic preferred.. 43 Ya Jan —25 29% Jan 1.400 < • - 1: 85 Corp-Seagr'« Ltd——No par : 5% : preferred-^.—— '—100/ Dixie Cup Co commonNo par " Class —No par A Doehler-Jarvls Corp —1 ; \ Dome, Mines 'Donelfls Aircraft^ w_—No Feb 105 Ya Jan •43 - , ! par" • * .. 3.500 •- ,600 ■XX-'X 110 Du ; < P de Nemours (E I), to Co_.wJ20 $4.50 preferred^ Duquean* No par: Light 84$ 1st pfd—™100 /- 23 Y« 4 800 Eagle-Picher -U5Yi 4,700 fcasiera Co— Airliner Ino^ : ;/ ,) X ■ 57% Jun ]/ 163/8 Jun •; 25Ya > Dec #■ 75 Jani Sep Jan 14 67 Jan 28 25 Ya Dec 8 33 Aug 4 40 Ya Jan 48 3 14 16% Jan 38 Jan 11 103 3 14 109 Ya Feb 5 50% Jan 14 56 3/4 Jan 31 31 3 90% Jan 21 114 $4: » X,/ Jan 7Ya Mar Jan' 29 v # Dec / /: 08 / Dec ? I'Mar ;X ' i f 50'.['.'pec s - Mar. 18 ' Mar' 47 Feb'15 17 Ya # Nov XX .35 Jan 105 / •;,:X ■■■', 29 Ya Dec : 45% Nov 109 Jan • * preferred series A-i—No par, Dre^er Industries-_L.™— 25,400 ..?u.58o j 900 ' 3%% conv preferred-i-—---——100 700 / Dunhill Internationai-;-.—w_l' '/ 700.7 Dupian Corp—-. .-No par; 400 •Dow Chemical Co Feb Jan 160 V # Dec 34% 34 % Jan 15 .25% Jan//4 .- common..No,par/ • 47 Ya May 40 Ya XX/ 33% Dec X./ 21 27% Feb It 75 52% Feb' 15 <25 ...™5" Ltd;—:™—No< par ■, Dec 34 Ya Aug 22 Aug 35 Ya Jan . , X40% Jan —No par Match- Dec 493% Nov#/ 49 % Feb Jan Jan Raynolds ' 114 ■■/XX 33 Jan 39% Mar Dec 28 28 , 44 Ya Feb 75 28 & . 0.300 , 163%' X r 116 ; 5 3 13 Ya Jan" ..100 .50 1—™™'™-.™20 Distil 9,000 27% 15 37 Ya Feb 4 25 1,050 31 <V">V : X 111 X Feb 40% Feb X • / • Diamond T Motor Car Co™———3 < 600 29.:; 114% 27Ya 50 / ■ 200 163 llOYa-i XX 33% 115% # •115X 22% --'23% >98 26Va 110% 5 11 30Y4 Jan Devoe 2,300 10,700; 92% 43'fXXX ,96% ' 116 15 Detroit Edison™; x 100 . 105 % ,28 - 67 Ya Feb Delaware Lack & Western " *116 110 34 194 193 A 23%;. : 34 1 . 117%' "104 V 105 s' For 93 Y4 : 2 Detroit Hillsdale & S W RR Oo__ 100 X " iny2,.r /'..no 30 "7-29 Ya 1°3 : ; . 116 ' ; .,193. ; 4 28 Jan 37 Ya Jan Delaware & Hudson:— 2,200 / 1,300 ■ . 52 % X 28%. . ' / "116 : 35 .- 96 164 94% 164 / 164% 31 Ya X C 43 54% X-X 27% .28%'" 'XX, 27Yb ; 4 v»4 ' , 105% 7 423/4 Jan —No par ———20 Co— Preferred Deisel-Wemmer-Gilbert ™—™—10 x - 29% 29 12,900 12,900 - 48 y2 31 ■ 105 Ya' 105% x ■ 4.000 44 *48 48%. Deere to / 100 X . .:■> 500 ■: 47Y4 Vl8 44 44% ' 28Ya 11,300 x xx" 40 Ys 14-% i 14Ya * 4 27 •/27%-x *73 Pi ; 76 > x Ax v: 33 Yb : 34% 90% Z 913-i *l05Ya : /: 333/4 30 Va r X 89 . ' 80 :. *48 X mv 50 48 x; *34% '•''34Ys ,45 X 27 % Dec .-VI6Y4 Jan ,108% Sep 4 4 Jan 3 14 25 29 3 Jan 111 Ya Jan Dayton Pow to Lt 4%% pfd—100 Decca Records Inc™— ——1 9.400 . Feb X 28% Feb .113 23 Ya Jan Davega Stores Corp, N :Y—5 Chemical Corp (The)™—1 Davison 20 X ' *74 •'*" 33 * 57% / 40% 34 Ya" 433/4 30 : "86 Ye *105% -100% *45' 46 PC X 44 85 /' 78 33 • 4x56%: 47 Ya 47 46 Ya 1434 x 14 Va #14% 27%// /" 26Ya 27 Ya 44% * *48 .X ® ::Y55%.; 55% An 28% 29 y8 z X 26%: 32% ... 91 : 45 Ya Zi' 133a ; . 14% 273/a 500 4;ioo ' 113Y2 -M 48% 34% " # *33Ya . 26% 26% ■; 27 y4 *112 56 Ya ... *74% . ,*48 . 48% ,.;*30%,31Y4 -">0 40% 34 Ya ; 33 44% ; 443/a' "86 .40 Ya 35 vX 27- 80 *32 40 Ya 40 X , 27Ya *74 *40 Ya 48% ; • 45% A' x, 14 ■ 14% 27%. 26% 26 % 26 Ya 113% 40 47 143/s , 26 Ya 27 Ya 47 Ya ■•■ ; "xx 35 '■' XX X: ...*34% 47% ■ 27 *111% 113% X *112 >/ 54 Ya 533/4 ,; 54% 47 Ya 47Ya 47Ya X" *111% 113 y2 52%/: xx --53 -x 53% 47% 40 . 27 >- 112% 51Y4 ■ ■ . . Jan. 3 Feb' Va Feb" 25 . 15; 122 Ya Jan .110% 7 115 Jan 27 115 X < Jan. 183 Jan 128 Ya Jan' 17 114 Jan 28- 204 4 ,20% Jan! .3 98 Fob 13 132 X Jan - 8 -5 113 U6 Ya Feb .24% Jan 18 123 Ya JanX: 9; > 13 , Oct *• Jan 39Y4 Jan ; > ? ! j / ; S 30% 'Dec X ;20% Aug. {155 '■ Jan ,125% Jan. Feb; X2 Oct Dec J ;• 34.Y* i j 113- • Mar/ '13 t ,tDecX.f i ; 33YaXJun J . > 38 Y4 Jan,' 30 r 100% Gee 'r'167% Apr. . 29; . ■ 29VY Nov #: . Jan '111% Dec Jan 28 *31 Jan,' >, Mar. 65 15 ;333A Jan 17 26 Va 108 100% Feb 169 3/4 Jan 116% Feb' Jan 22Y< Jan, 293/4 Feb • • - Dec i 192% ' Oct -129.. "Feb •' 117' . ' 2lYa X 134 - Mar Dec ; Dec ; <> j t <X Volume >163' • 'Number f4465 THE COMMERCIAL & FINANCIAL CHRONICLE LOW Monday: ,,Saturday Feb. 9 per share - :v'"3V%-37% 250 , r 252? .Vl; * 11(6 197% #.")% -36% 249 ■ -28: $ per share :i :28% ''29 )f •-'/ "•/ * '. '*112 13% 14 :*77-'".78 ;78: ' 78, ;25%:/26% 67itt >7Va : res '-166% 154% i- 154'2 *54 »' -'28% *■ 52 % . 32% 109% *;■ ,36% ? loe • ' s "r : •109% *- 109% 36% 36% . 114 ♦112: 13% .13% :},•. %■ 52%' 53 51% 51% 27% ■mV*. : 1,100 109% 20 V ' -2,600 4VaTo 53 Vi 28 .-:•" 54 '.v 106 «:>:• *105 % 106 ■*105% 106 107% ' *83 105 ' 4T« ;% *89Va '90% : *92 95 105 "20 ; *56". - 100 ■i- ./*29%*" •29«: I 1 » 17# -17%:,~ 61-, 61 <• 107# *107%-- • li. * <•68%;-69 4 ' - - 60% • < > i& % • ,*108%• 109%' •-' • - f Uw • ' — ^ 1 •* » U '*4'. 68 - ' L- r . ' 48 48 - *48? • 4JJ : '' '';60 17% : 84 43 • , r ' 44 *.J 4 • "47 ."17% ' >**48 ' . - >, ■ ■».:- " 81% • * 45 < • 82 48 / -19'/« * > 20 48% ; 21 84^ 83 - •43% -44% 1 Office Pitts 28s v . ~< t -u 33%' 33% *144 53% 54 ; Products < Monday j ) per share Tuesday / - Feb. 13 f < S per share 3 93 Jan '95 Jan 29 « $4 3 55% Feb 13 8% Jan 9 3'/ 75 £ 61% Jan ; 8tore«__Li.//.An Jan 28 42% Jan 65 28 25% 36% Nov 13 1 .17 13- 104 ; 7* Jan/ 18'A Jan 14 ••; 9 : 7 103 - 21 30 Jan 22 61? Jan 9 Jan * 108 < Feb 3 80% Jan 29 5 109% Jan 17 - 55 . • Jan < 41 - 70- Jan 2 Dec 70%- Nov 110% Mar Feb 15 ; 18 107 July 15 •41- Jan 33 14 Dec 718% Dec 4A Dec 5 Feb Feb • 15" Feb 2- 48 Feb 77 >; 16% Jan Feb 28 146 6'A Mar 15% Jan Jan 118 55% Jan 28 34 34% Jan 4 45% Jan 29 35 Dec Dec 43% -Dec • Jan • Jun 44 V/ Mar 4 Dec 80% Apr 491/4 Jan Dec Jun 35% • Jan .14 Oct "-. 13% Aug J 25 9 28 7'-' Nov 75 Jan 59% •25* 9 * 17 35% Jan 111% 47%-Jan 13 49% Jan Oct 60 38% Dec Jan <30% Feb 86 ■ 23V4 • 6 21 - 2 , ,03% 53% Mar 105y< Apr ; 42 Va Jan Feb 50- 4 .. —1 • VDec 107% Apr 34% Nov 18% Jan 10"< ' 38'% Jan 4 8% prior preferred 28 <26% Jan 9 ?fFrancisco Sugar —No par' •' 27 Jan 2 F'fc'n Simon & Co Inc 1% pfd 100 -142 - Jan 19 10 .'50 27 Dec 146 May • 51 Va >30 Nov Dec v ' STOCKS ■ Friday Thursday Feb. 14 Sales for Sper share < the Week Feb. 15 < tper share ; ' NEW YORK STOCK Range Since January 1 Range for Previous <;V:'7 Year 1910 Shares •-1 / Lowest < Par $ per share ^ EXCHANGE / / Highest Lowest t per share v * ,;/?; Hijhest $ per share Sper share G 14% Y:$$m 11% 11% "C A 20 20 20 24%^ 24%: 24 26.Va 25% 26 14 ' 13% 14 9% 11 ; "W4" 14 Va - •20 1 % 14% 15 Va Gabriel Co (The) common 1 9% 10 Va 10% Galr Co t 20 y8 9% 20 20% 20% 6% 'Wa, . 1 Va 1 •r - ,;;i»/a--lV4 • ?24r <*77 26 • 18% 18% *77 » v 85 , 24 Va ; 26 »A » .'vrij.26.%') „ . "-<•• 85 " .< ! 14% /15:"/V/ f'V- 18% ! 61% 45% 60% 61% 44 44% V 86 45% 15 90 83 88 . 18% 18% 68 68'A *107% 67'A 108 Va 68% 67% 66% 1.3% 13% 13 133a 127/a 13 Va 12 Va 185% 184 108 ♦184 ♦107% 26 /*: 26% 14% " 14% 185 26% 141/4 - • 14% 147 /•. 34% *146 34% 3^% *176 Va 180 *176 Va 51% 51% •52 : i3i 124 : 79 *131 •131 133 21 6% 6% .6% 45 ■■ 20% 19%. ; 45 „ *141 .10% 11 </ 33 .37 37 <• 124 125 u. : <• 36% 36% 124% ;v 124 38% ;■< 377ii 37% 41 -j% 109 'H: 42 11% *108 111 S '41% - 42% 112 *110% ' • 29%; 30 105 <105 41% 30 :46% 437,a 42% ./ rtftVtV--tVu o73%;; -cy *104 / (5% 110% •r 111 39% 14% 143.'i ! 11 11 Va V 35 T *31 Va *110 For 40% . 45% *104 27 31% 112 footnotes 66% 111 Va' '/a 39% 42 14 • 14-% .10% 32 %• 44% 42 ' 7 Va 37% 125 General Gen Time Instrument : v; 42 *54% v/ 7 *148'/a 38% V 111 X42 Va ' 43% /; ;*no% 113^ 30 ' •v 65% 42% *54Va 7% 7V4 39 -. - *148 Va </ 16,800 ! :• 47% 104 55% - 41/4% 106 - 104 42% 73% ,74% 74% *104 104% 68 66 •110% 111% • \ 44 ' 40% 41 14 •• 13% 14% 3,100 '- 56% 7% 10%" V, 31% 32 110 Va 110% *110 112 10% - *32 10%, 35 25% - •' 26Va 31% 32 Va *110 112 400 12,800 151 50 & / $4.50 Glidaen /t4%% Co No • No par (The)— preferred No ! 2,600 Goodrich 100 Goodall-Sanford Inc 5,400 106 109% 41% 41% 14% 15 10% *32 5,500 : • 68,500 11 35 ""26'/a 300 5.100 3,800 > 200 4,100 32% 34 4,400 *110% 112 100 Jan Jan 2 « 36% Jan 3 '< 55Va Feb 13 Goodyear Tire & Rubo—r./_No part y" 58% Jan «. $5 convertible preferred—No par 7 109% Feb No par 15 34% Jan 3 Graham-Paige Motors./ to A Jan 3 Granby Consol M S & P— —3 7. 7 6 -■» Jan j Grand Union Co : —No par > 32 Jan 25 Granite City Steel—^_.i._No par *19% Jan 3 Grant (W T) Co—— -$ 31 Feb 9 3%% preferred ICO 109 Jan 8 Hosiery, Feb Jan 23 Dec Jan 36V4 Dec Jan 7% Dec 46 % Dec 7 ... y. 9 9, 49% Feb 105'/a 25 ^ Jun * Mar - 111 > Dec 46 111% Dec 26'A : Dec 90 ,Mar 105'/^Dec 86 ; : Sep 'lof^|?Dec 39,//Oct 15 25 'A Jan 5 52'/a Jan 8% Jan 29 ■3% Jan 151% Jan ?8« 147'A July 42 Jan 29 25 79 Jan 29 18 7 102 7IV4 Jan 30/, 48 : July 113% Jan 3' -5?'^>ay : 7%roct ;163%';.;Jan •'•v 40 Va Feb i 53 104% Jan Apr; . / 63% 12% Mar Feb 11 Jail 30; 53/a Jan 12 'A Jan 19 v; 4% Jan 34 14 18% 115 Nov Dec Jan • Jan 27V4 Feb 8< Jan 28 1101/2 Feb 11 34 • :i4% Jan 25% Sep 105 Sep Oct Oct '39 10?%' May 42 f Nov "74 '/a < 105'A Mar July 16 • Nov « 38% Dec /*13'/a Mar; < 56% Feb No par —tl Dec 44% Jan 107 -1Q7 Dec 133% Nov >26 26 ' Dec 31 Mar 25% Mar 25% 27% Aug ' 8% Dec 34 ' Jan 99 Oct 140 < Jan 6 105% Jan 44% Jan ;, Pfib 19 . i 32% Feb 15 >106* -Feb 13 • . c 3% 3%. Jan 21.. 21,■ 15 Jan Mar 1% • 4 45% 45V4 Jan .. Gotham May , 10 3 111 3 ; 134 28 118 3 4 $5 preferred 2 Jan Sep NoV 52% Aug 123 -- Dec 77% Dec 130 Mar Jan 191 123 40 'A 40% Jan • 22% 8 46 3 Jan 102% Jan 70 ? Oct May 56 Feb Aug 125 15 . i 49% : Oct 15. 15 39% Feb 36 172 Aug 130% Jan 10 130% 6% Jan 19 150 • Jan 18 ■« 35'/a Jan No <B Ft 145% Oct - < Jan 62 • </ 10 Co Oct 114% 5 11% Feb 9 par 100 69% 50 1 Telegraph Co 77 par 103 Nov 127 .. 29 33% Jan <7 42% Jan 25 104 38% Jan 47% Jan 15 / Z 28% Jan 110'A Jan 31 - Deo 22% Jan 24- 8 4 Dec 15 Mar , 43% 8 30 Dec 27% 40 14i Feb 7% Jan 2 < 22 Va Jan par No par No par/ tGoebel Brewing Co. •Gold St Stock 40% Jan - 100 7: preferred conv 5 Co L preferred 41% '26 * 6 23% Jan Dec 185% 37% 40% Jan 14 37% Jan 3 108 Jan 22 par 100 Rubber 75 109% "< 300 Tire Safety Razor.. $5 conv preferred*. Gimbel Brothers new/, 900 • . Corp..No -Gillette 5,000 > 67 Va *109%- 111 42 13 Va 132 « 37% Feb 13 —20 Corp preferred 40'A *104 67%, 40%: 31% //■: 106 10 '' Telephone General 32'A .. 105 Va 46% v lisst. 47 151 41/4% « < 104 Jan 80% Jan Utilities 42% 42% ;:•<< 123 Dec Jan 163 14 135% Jan / Jan 14 57/s Jan 10c 38% ■ *108 • . 4 Feb Dec 27% Mar 8 •"51 24% Dec 61% .114% Jan 5 56% Feb • < 14% Ifl 8 Feb Nov 80Va Dec 109 »/a 6 1- / 52 Dec 40'A , 17% Jan 6 Feb * Jan 16038 8 *%: 35% Feb Dec 14%' Dec 8% Jan / 10' 180 Dec 86 58 v 12% Jan < 49 10 152 Va Jan Jan 21 Jan 4 20VsJan 3 34'A Jan 2 < Jan : . 104% Apr 44% Feb Corp———5 7. 187/» Feb 13 No par ' » .41% Jan 2 ——100 —.. 10c 7% Jan 3 General Refractories ..No par 29 Jan 3 General Shoe Corp ;——1 29 Jan 14 Gen Steel Cast $6 preferred—No par 123 Feb 13 ' 104 Va par par > .- 15% Jan Railway. Signal—. 7 6% preferred Gen Realty & Utilities 11% 123% 106 46% 104 . 151 .39 No common—No . 27% Jan 15 Feb 187 15 7%' Jan 51% Nov • 14 Jan 14 Jan 5 Jan 28Jan 21 Jan 3 Jan 3 Jan < 2 : Jan 5 Jan 2 Jan 3 Jan 3 Feb Jan ; 68% Jan 28. 74 xl28 Equip Corp—No par < Service Public 122 19% Jan 28 108 5 3 Gen 32 Va 37 - 130 Feb Jan Jan V 15* . 66% Feb - . 10% 38 -41% *105% 32 Gen ^ 30 :< 26% 919. 20% 38% 29% v 104% 32 page 37 V'a-. 112 106 24'A see Public 111 - '40% 29%; -2634 - - 56% *148% 10% 26 Gen : 46 7 10 Corp..— Adv 6% 6% par preferred Outdoor - 31., 124% ♦110% 31% ... *108 ^ •■ 6% 85 Motors Precision 'i par • 112 46 130 Va • No —No Corp preferred i/—j_/*—.—.100 conv preferred— 100 Gen 41% 111 55% 106 39% 36 V3 37% 5% ; ,.107% 60 V2 ; 12% 182 24 13% 33% 139 32% 171 46V2 52'A 3%% General Gen 10% 3 No par — common 217a 32% 123% Mills 1 *141 10% 38% Foods General '.<44% 31% 36 General 38 /V *.1 " 17% Jan 8 ————100 —No par 100 preferred Cigar Inc preferred 19% L Jan Jan 28 NOV ' 28% Jan 58 No par General Electric Co 77% 37.% <i4i/;v | 123% 37% 110% 31 ; 72% 67 Vi '.y 10% 74%/ 66 % *32 fS V '21 ?! • 37% <37% 32 :<72% *104 20% 44% 40% 106 20'A 44% 42 V- 50% 132 129 % 130 130 44% ■ 7% a*ni9» ; 124 tsi«'r.76% 19% *108: - -f 130 . '• / 77% 19% :</ 39% 66 '-26% . ■•;, 151 * 124 75% ' /■ 7 Va 150 132 *119 23 ——.No par 7 % «cum .:General 176 Va - 49% > 24 Jan 24 -1 Class A ^ 34% • . 19%. '•41% 57 7 i 6% <105% 43 33% ,.*175 . "; 51 General Cable Corp * 85 101 Baking.. 8 preferred........u_—No par General Bronze Corp 9 1 3 4 4 $8 42 <29%* 8 100 •/= t Jan 15 Investors Dec Nov <••'/• ii<•; 15- Dec 10% 19% 18aJ.v 14# Apr..! 29% Jan 29t-c : 16% Mar v 26 63% Feb General 146%" 147 v 50% 6Va 28 'A 46% *56 \'i / 34% *130 76% 40% >: 104% : / 146 '/a 6'A 40% % 105 yi 105 f 42 - 37% *110% ; 42 y« Jan 3 50 14% " I'A Feb 12'A Jan 4% /161 :Jatt/t < 28 -15% Feb 26% 14 % Feb 13 Jan "2 6% 29 5 Gen 186 186 14%'- Amer 20% Jan l2y4Jan 54% Jan 35'/a Jan -78 Jan i-ly- $4.50 preferred Amer Transportation.. 7 13% , 26% 124 37% 42 Va 28 % ;*i04 ,f >< .13 * 26% 132 123 < ovGen . 55 54% 55% 46% v47y.<" .-VJW46 : / 46% "" - 18% * •11% Jan 78% Jan < 109 15% Feb 13 3 3 Jarf'trait- x23% Jan preferred... conv 23 Gaylord Container Corp„ a 5%% conv preferred»/...-....50 . ««'- 66%- 54% 10 . 112 •;v g#! ■ 53% 47% 35% / 41% 109 *175 32 ; 38% *110% , 13 180 49% k*141 '< 32% A8V*-, ♦107% ; 44% " - 10% 32 Va 11% 31% 18% 108% 18% • 45 90 imyy. / ;X:: ; 44% • 41/2% , 'Jan 9 19 No par i Gar Wood Industries Inc 63% •88% : 10% Jan o 20 Co m $3 preferred .i./ 15% V 62 V 37'A 45% 44% *141 ' 20 34'A; • 50% 6% 19% < 14 0J/4 33'A .131.; 13L 20% 20'A 37% 1 146 Va *130% 21'A 37.% 42 ... 180 mi x75Va 133 21% 37% 42 ,V.i 47 v 21% 1 < < .*119 78% 37% , <13% 53 Va 124 77% • 14'A 49% ;• 131 ; 26 Va 146 . ' ■ 186 *184 26'A *175 53% 48 186 x33% 51% *119 131% 131% *119 (• ' : 52 Va 48% <78% ; 48 53% 48 : 42 34% 50'A *107'/a 85 -15'A - (Robert) Gardner-Denve# ' 14 14 7 180 *140 18V4 £ ; 26 : r 42 -42% " •184 26% 4iy4 f 42% ' 108 26% T"*80 *77 , *67% *107% »♦-y,-24".v V 24 24% 26 - « M: 61% 43% 91 18% Va 14% 62 •88 - / 15 45% ; 46 92 85 61% • 61% 45% *90Va : 14% 14% *61 /f *77 85 14% 35: -*24:Va 24% 26 Va ' 26% Inc preferred. —26 /> Common rights/—' Game well Co (The) par . 59Va Dec .* Jan 50% Jan • 1 3 18 »%• Jan^ 41; 3 < 33% Jan Get, 32%.Nov 21% July 7 . Dec 42% Dec . 28 'A Jan 15 , Jan 641 Jan 11 < >72% Jan Feb 28 V» 110% Mar 115 / Jan 3 -67% Jan • Feb • 33% Feb 2 <:ll%Jan * 108 2 47% Feb 16% Jan ; . -• '25% 23'A Jan Jan -—1 new. 10 54% Feb Nov 20%' Dec 15 • • 7% Sulphur Co: Feb 26% Jan •'6474 Jan 106 >; 110% Jan- —.10 Jan? 12% Mar 10 : vnr i_100 9 112% Feb > Corp..^ Fruehauf Trailer Co Dec 19% Jan- « 32% Jan ! Ao Corp.;..^....: Machinery Corp Freeport Dec 9% 3574 Jan com—-No par< < • 35 Va Jan Food Fair Stores lne_^. ' 62%. Nov Jan 13 par Foster-Wheeler 28% Jan 6 22 100- Food 15% Jan *'•<•15% Jan 21 • <57% Jan 3 ^1 ; preferred -conv Dec 13 28% Jan - 100 Florence Stove Co 5% Nov 20 Va 42 Va ; 13 92 % Feb Florshelm Shoe class AJ.—_Ao par Foliansbee Steel Corp./ ; 10 < Dec Jan 16% Feb 13"';'< 24% Feb 15 < 110% Jan 2 ^2 / "<41% Jan 4 No par Corp.-..J Power 86 29% Feb - No par preferred -Florida 4'A Nov 20% Jun • Stores././; Ao por (The) 109 / ; Jan 10% Jan 28' A-Jfo- par preferred.^.. Co July July July . 11% Jan 22% Jan 14 32% Jan 30" • $ per share • 23% Jan i-'r 'First National ;• 2,000 i / 6,100 Feb. 13 t per share 3 8 < *4% % ' preferred <7,400- 350 Wednesday ' 29 > V 100 108 86 Jan 3 3.80 < Dec 37 68% > 18 Va Jan ":;x66 /Flintkote ; 5 65% Jan 107 V* Dec 101; Sep ; 1 May ,12% Jan 17 Federal Motor Trucks HIGH SALE PRICES •' Feb. U < 83 Ta Jan 3,500 42% 41% LOW AND Saturday .Feb. 0 100/ Federal-Mogul Corp___._^—_._.k.8 1,600 13 30 ♦ Enamel Sep Feb Dec 81 Jan 100% 28 Light & Traction.. conv 100% 2 5% Jan F A'A 9V 15 Jan 23'/a Jan Co.. 27%; Dec Mar 106 Va Jan Oct 29% Jan / • Jan 109 95 48% Sep 16 2 Federal M!n & Smelt Co_j.__ - 62 103 2 3 Corp Federated- Dept 1 24 Feb 31 50 Dec 55»A Nov Aug Jan 40 * Jan $6 preferred.—^—— / 85% Feo 'Dec 146 20 !A Mar 17 10 <1,800 21% 105JA Jan 25 / 1,800; 2 par Cleaner 158 Jan 6 111 19% Dec , 43% Aug 34>A Mar 30 Va Feb par ' '46% 103 No Firestone Tire & Rubber— 10,200 < 140. Jftn /Dec 7%. Dec . J 3% Jan-.; 109 Jan • Dec . 24V4' Dec r- 4% Aug ,< Dec , 13 71 6- Bldg.^.—Ao ^ ; 37 Va Feb >..3% Jan / Dec * Jan 107 Fidel Phen Fire Ins N Y.._/ 500 14 " . 112 Aug , 5 . Jan 39 Va Jan 7 Va Jan 24 26% Jan 28 ' / 8% May 42% 10 Ferro '"27% '27%- '"° 42% 41% Oct 109%. Dec 1 (July \ 5 104% Jan 1.000 -180 — . S -v-ri.33'^. *34%.. <.<.>, <".,»145V/156«¥;: > V 53% 54 * <156 "vv , 104 No par Sep Va Feb 3 * "170% Feb Jan 1,300. » 2 7 ; Jan RR Co.— Vacuum Federal <-2,700 * ,28 75 106 ' 27% Feb 32'A Jan - Dief series A Rights y 110 • Va Jan Ow — FkJardo Sug Co of Pr Rlco______20 3,200 "• 84 &' 21 6 26% Jan ;24 Jan . Farnsworth Televls'n & Rad Corp.l' 1300 *-. 43% - service 2,500 - 76 - 42% . 19 81% :• '75'. * ' 18% 28 80 ..100 Corp. cuouo common. Eureka A • 1 16% Jan 3 -ITVa Jan 148% Jan 1Mi Mig Co——4. Phonograph 3 jouusun RR 6% - - • 50" No — prefcriea tEquitable Erie 48 "48% 48%-' 49%t </£ 700; V17% ^ 17n\?-0 V37%^ 17%'JV'V 5,800 *48 -*• 50 ' ,4 49%^ 49% f iv/> 200 •?> ,17% - 171/4 • — 76 ' 76 ,43% ,44 . - ' 18 v'« 82%- ♦ ; 1 ■ , 'V'^v. - * 112 Va Feb 3 19% Jan / aovu' preierreu-—^^.Au par V- 86 preierrea No put 500 < 4 Jan 67% Jan 11 v 700 - - <<17% < 17%: & ;«•& preierrea.^..: 10 5 ' 106 66 % _ 11 *% 1,000 ; .- •-v':/i;:t76%-^77% -"l .* 107%- -109%' ^;'■ 108 V 108 ' ^ ^ -A " » ; 108%- 108% *<r 60% '60%'; 61v'% y '60%'-er- •:• V 1 :-'V /„ V ■'■/-■>■» ••59%.'-*'60% /'* •^01 •> <- 39%, '40%--^ V. "< •< 38% 39/ ' 40 40v" • 4140%<' '*113% 114%', 1 v,H4y:-4l4 v, • *V'-M12^%4:vjv* ♦; ' . V -76% s 76% ", 77%:^; 48* -24 55 .;. -Fairbanks Mors* E^Oo • /%; ;. ' -.'107% '• ,iV '; >;1^.-33 * 10 46% Jan —' 1,000 - : ,* 77%'* 77%- • •_. — 32%•*32%. • 39% Jan Natural Gaa Paso Evans ■ .:28% 3 111% Jan . No par Exchange Buffet Corp 112% f'& 51% _t "• ; <24%:* 24%<" -v 24% - 25 *4* ??.ui*v;vmr-*-' «;*lll • -s 1141 f *51% 52- ' '-vi: w-52 ;>,?' 52%v;^ '£$2*»29 ^29% < ".^29-'- -''29% !H ■ '29 •* — •':• 17% •'/-:*L-^-l6%^17y«--.-'7--'.-nf, 17%..'' 17% ' 61 >?>-'y -.60% -61^'X f.:> 5 CO % <: 61 % I l; 107%* < •107% ,107 % '' *' - 107ya 107% ; • » -32' ■Z,<• ,v, 32-^32%=-^ ^i32% :V33% - ( -68 68 J : '"*67 <' 68 68% ■: 25 104 6 Enaicou 4,600 14,100 136,100 25 24 24 Ex-Cell-O ' 112% 109 Va Jan 56'A Jan 1,300 , 11 33% Jan tihares.—/ < 1,900 ■ 2 30 157 Va Feb 2,000 ' 24%/25; ?. ' 112% <52%// ^"«.v ^ •' Feb Jan Erie <fc •'♦111; 71 " 32 Vi Jan Jan Engineers 5,300 : ?** ,«Mfc Jan 2 9 51 • - Jun 49 Jan ' 500 - . '9% " -Dec 200- 137 preieriea Eleccnc 33,100 53,600 1,200 57 9% 229 Jan Feb 1 — Radio . 30 July' 185 Ei 65 20% ; 29% ■ 170 19 108% Jan J Light./..—Ao <fe Emerson 106'A , - 5 Jan pat 60 : : Powei Emerson - 15,200 140 ; % 109 Nov Feb 199 Scorag# Battery.—Ao par *6 * 109 35% 256 64 —100 Boat———— 7,100 5% ,20 S per share- 18'A- Jan 28 1 new..1 com aoo MUa lnd Am 4.300 z ' ,19% 2 Electric 1,100 28% '85 106% Inc Vt preierrea 1 ) / 3,000 *108%' .109% 36 Vz 37% *"35% : 36% ; M07%' 108 Stores ' ;:;/V ' 8 Highest $ per share ' 38% Feb 8 .Jan prelerred. Electric 600 s f" • ..." 32%* ' ' 34% ' v *108%' 109% 36%:,' 35 'Jan El as tic Stop Nut Co.—J— ——1 -fclecuic iAuto-Lltd lTbe»——3 500 . V 52% ' 53% 28 85 ..*82 •lOJVa-' 109% 36% ;- tor/; ; > 4,600 Emc a ..* 2 222 :Ekca Products Co^._:—^—_d. „ /Electric - 30'A Jail .191 l-Nu : preietiea <10,400 2-1,200 51% Year 1!M5 $ per share share par Bros ft* ; 1/500 152 ' $ per Lowest — vv;\. 78% 152 : Highest preferred-^,—10U Manufacturing Co..- Edison < 8,500 - 38% 5% Eaton ; 3,600 /; 22% 23% *160' *161*' Lowest ' 27 -31-14- ~32%" 85 32% " 108 36% Range for Previous Range Since January 1 ■ Corp—J Kodak Co "cum 25%*- 53 27% 31 ..*82 ■■/••■' 53 51'V 28 30% - 69% 31%' tilt '/r. 6%- c 7 •151")., 153 • • v,; ^ " 10 '6% *160^J 163- r * iutt>iuiuii •:■.< 1,700 26%; '. ./•21%" •22%" 153 Eastern Stainless Steel 500 196 y 73 78%: 6% -. * . Par — 25% 152 . STOCK • 36" ;109%" 109 y« :'.-37%;: 37% *112 114; /;.13%" 14% ' TOICK '/< ' /"/ * / EXCHANGE " Shares 69 Va ; NEW "' 241% "243 30% 109% * > - 85 105 % 5 69 "•'30% • ; 26 107' * ,V 196 77% 30%' :3i% *C3 ,'■ 197%v 69 /' ' *36 - 5 v the Week Sper share 242% • Sales for , - 28 %" ' 28%--. . 242 11 • 52 . 23 .. 85% -109 V* 52 . 28% 131% .86% 69 %' ; ',r ■■:%• 153% '154.v *; 54 -v 54 /v'/y 54% 52% ; 68 %- 109 %' / .36% •*196" -'-•- Vy%'. ^22#^ 22%:/;, ■*183%' 165 %/ ,"/21% v-22% ? 25% : 197% 1 ' 36 JA ; *112-114- ^ . v v !-4 // 36 114 ; 247% "28 % ' v:36U.,36% *112.' 114- • yr36% *196 68%/" Friday Feb. 15 * »**14 :i 244% STOCKS * Thursday •//; w-"^Fe"b.-lfrshare ; v / $ per share $ per '*1091#;-10J%& f /36%'-"37^f;\ ■ *109 % -109% V.vv • Feb. 18 ' 197%^: 68%' PRICES Wednesday ,"36%"/ • SALE W. . ,;1249'• *196' 7128 HIGH Feb. 13 / ''•/ per share >:i' AND Tuesday : .;vr Feb. 11" < ..: 12% Aug 7% Nov 33% Doc < 21%.' Dec • 33% Dec 109 Va Nov ; ■ t, THE COMMERCIAL & FINANCIAL CHRONICLE 914 Monday, February 18, 1946 NEW YORK STOCK RECORD Monday Feb. 9 $ per ; 20% 60% 33 176 Y 73 Y . 33 % 33 Y175 176 12% 102 76 81% 81% 32 % 42%' 82% 190 176 ' 74 / / • .100 100 . Y -25% "26% 26% 2^/2 :75% 76% : 75%,. 15% 74 -62% 62% 4 62 % 62% 62 38 1 *35% 31% / 31% > 31% 25% ■• 25% 25% share $ per / 63% Jan 3 32% Feb 13 y ;* 172/.Jan 14 $ per share jan 46 Aug / Dec 653/4 Nov 28 '/a 16 Jan ; V 391% ; 343/4 Jan 28 177 / Jan .Highest share 143/4 4 ' 57% Jan : Greyhound Corp (The)—pan 41/4% preferred 100 * •/ . •/ 46%: 46 12% •* *- 47% Z~ 18,500 yv; 12 100 100 12% \ 101 *100 27»/4 74% • 26% 74%" / 75% 75%. > 61% •';/ V 62% 62% 631/4 y - - • T,600 GuH 6,100 5 Jan - 78 29 1 Feb 21 Vs Nov ■175 16l3/4 Mar "88 5' Jan May Jan 4 52'/4 22% 104% 31 Jan Jan Jan 15 /108 3/a Jan 14 43% Feb 13 11% Jan 7 Jan 3 --1 ; 99 1 . 52 f . ' Jan / 2 13% Jan 108 Jan 75 Jan -i 16 351/3 Feb 110 / Jan 7 64 ' '31— :r$5 conv preferred—-—1-No par "/ 25 ,82 Dec X35 ' Dec 1108% Mar 55% Jan : 491/3 Jan Dec 100 Oct 58 Dec 12 Ya i, 5 Y» Mar *14% Mar ~*/o par Oct y86 : Jan | 28Ya . 25 22?/a Jari';/ 3 '"^. 30% Jan 28 7 y1/ • 78% Jan 28 preferred— ....-No / par; y 1713/4 Jan 7 63 % Feb 15: OU Co,rp—21 V59 % Jan Gmf Mobile & Ohio RR: ;t 10,800 27 . 4 '•-• 79 ' 70% Jan 24 ; y Guantanamo Sugar; common-—-il' •:y/-^---50 26% : Grumman Aircraft Corp«-~.; .5,600 3,200 ' 62% . 115 12 : „v75- Lowest Feb 21 3 / Green Bay & West RR_i/_—100 Green (H 1>) Co Tnc—.--.-I ''"1,400 83 % 34% * 35% *109 114 45% 20 $ per share, Jan y 'Preferred / ' - 20 • , , * & 82% 82% 34 *109 .'V 44% 12% 12 v • ■ *72 33% Y' 33% - •'. 114 *109 ::S ;y 102 26 • ' 115 y a-45%.' 12% 12% *99 ■ 17 / Prop—No par Great Northern Ry 6 % pfd—No por Great Western Sugar——No par Year 1945 Highest ' 81% .. 175 : 176 ,76' :• . 32% Great Nor .Iron Ore $ per • Range for Previous Range Since January 1 v Lowest - 8,500 14,000 4,100 r// 59% 32% -.•'*72 ' 76' 59 32% . : STOCK Ojhares y 60 . *173 : 176! • 81 33% ' 44 •' : •>72 % -• 20% 20 YORK EXCHANGE the Week / :•- $ z>er share 20% 58% 32% V;;? ■• , 33% - ■'ii 45% 12 % 58% 32% 19% 20% 57% •*109 115 *98 20 591/4 *72 - f 3?% > -451/2 20% 176 « 73 *109 ■ / , 81% -81% : $ per share i 33 Y# 20% 33% Feb. 15 ■'$ per share NEW Sales for Friday ■ Feb. 14 58% 20% 59 Y; $ pet share share STOCKS Thursday Feb. 13 33 ' 176 Feb. 12 < - $ per share ■ Tuesday Felj.il Saturday SALE PRICES Wednesday HIGH LOW AND Dec / 30%- Jun y 82 Jun J, 61 Ya Dec H *37 31% *25 *112 *106% 27% *106% 108% 27% 28 108% 28 n 16% 16% 14% 14% 16% r 140 36%- 37% *85% *184 124 Y 121 125 ;; *134 >184 ' 90 *139 140 29%' :Y 34 34 34% 61 34 61 *33% *25%" 60 ■ •■• •— 60% 27% *60% ;27% *31% 33% *33 60% .32'K- 30% 30% 54'% 52 'A* 531% 25%' 26% 31% -v. :/•■ 62% Y ; 113 Y 92% - 27 26% *6oy* ■: . , *60% 62% 31% 31% 113 .*110 26% V i 11% 113 11%; •23% 40 40% 31% ; S 89'/4 . 12 32% ■ 92 ■ 27% Y .*20% 40% 38% 32% 31% 23 •:' 9% ; - 9% . 9% v v 8% t .31% 110% -4,400 ;09,2O(f-r // 1,200 32 nio 113 11% 27% *22 39% •; 31% :; -37% 38% 31% 32% 8% 9% 23 -1,200' /'v 23% 39% 22% / 38% 32%. 9% Hove 5% 21,100 Saturday Feb. 11 12 62 ' Jan 21 15 Jan 16 56 v "Jan 11 1 28% Feb Jan Jan 32 / 29%Teb 60'A Feb * Jan . Nov ' 60% Jun ti 35 -: 251/4 Dec 63 Nov 109 Y« ;• 66% Jan 12 3/a Jan . Dec July 29% Sep 5 1 63% Nov 26% Nov Aug 2 / Dec 32%: Dec y 55% Oct 102 93 / Feb Dec, . 33% Nov Jan 25 " 19% Jan ; .. 16% : 111/ Jan 25 July y Nov > : 90 €38 21% Aug 30 / 138 - Feb Feb 14 33 Feb , 123 6 62 Dec y Dec & Jan 23 Y« 3an y 413/a Jan y17 - Jan y i/17% Jan y42 / Jan 34 ' Jan 29 Jan/15 • 393/4 115 Yi 25 9 Feb Aug 189 Jan 130 15 3434 Jan 27 ' 35 103% Dec 1; 921/4 Nov Apr Jan Jan y72 Jt 30; Jian 19, Jan Nov ; Dec 82 ; Jan .29 37 2 Oct 170 Dec Dec 14 223/4 1 Jan 16% 134 % Jan 71 Ya 9 Jan 51" 87'/a- Nov 23% Dec 54 Dec 1 Jan 34% " 12 Ya Jan 25 25 ; Jan 17 8% Jan —-—100 19ya'Jan - preferred— 100 Ltd—^.««.No par ■ /. „rl - i 2 81/4 Dec Jan - Jan 10 ; y 23Y« Jun 36% Dec , ' ' 33Y* Jan. 41Y4 Feb 4 Ya Jan 9 lO'/s Jan 30 * y 29% Jan, No par ' 8% Jan 26% Aug 14 Yi Jan / 34 3% / 34 May 9% Dec #an ' NEW YORK /Sales fot Friday y / Feb. 15 Range Since" January t STOCK EXCHANGE the Week Lowest .;I ' I per short; i * Sper ehare Sper share non-cum 20% Dec • Thursday ;/..;Feb, 14 •/ " $ per share Manhattan . 94- • Mar Mar 100 Y4 Nov 14 104 Ya 9% Jan 108 Jan 15, : Feb , • Range for Previous LOW AND HIGH SALE PRICES Tuesday ' Wednesday Feb. 12 Feb. 13 Monday Feb. 9 A Hupp Motor -Car .Corp, „i fair ••/.-/y/y 136 . 146 Y» Jan 21 ■ 2 Jan " 38 Ya Jan 131. Apr ,.' 6 2/ 27 Ya Jan 25 Hud Bay Min, ft Sm Hudson Motor Car 4,700 6,500 9?« Jan Jan : 184' 22 60 Sound Co———18. Hudson 1,000 * 32% * 106% Jan ; preferred Houston Oil of Texas v t & 7,600 v » , 90 ,843/4 Jan? 3%% / 428 - 50 —: — x30 Feb 5' : 38 • Feb : 5 "1081/2 Feb /11 2 56% Jan 24% 30 y ;51> >21% Houston Light St Power Co.—No par yy 3,600 12 Oct 17% Feb Jan Dec ,•■ Apr / 431/4 Dec ; 29% 155 Jan 98 2 32'% Jan. —3—100 : • 1Q.700 55% k 11% 89% 27% 53 11% preferred /$2.25 ,'40" M 53% ; : .8 Hpusebold Finance com——No par 1 27% • : % 7% 15 Ya Jan Dec 110% J»h 24 Dec 121 / Oct 16 * 22 32% Jan Hollander & Sons (A)—— 18 Ya 132 14 y 130: y Jan, 28 ; >; 86 •*(Jbn ; 5 No par No par ■ y-135^%Jan ;v2, > 97/*jan —r5 3 Holly Sugar Corp i—No parr Homestake Mining/———i--12JiO ^Houdaiile-Hershey com No par 5,500 89% 26% S& 52% 9% . 601/4 60% .32 90/ 23/* 23% 40. .31% Z " / 27% 60% 200 900 27 89% .• 600 - - 54 26% 110% -j / . 31 53% 11% > 11 r — . J 31 200 • •. 9 45% Jan 13 Hlndb S* Dauch Paper Co^.^.—JO, Hires Co (C E) The.*-,-*™—! Holland Furnace^ (Dei)— 10 6,400 8 Dec 106 Ya Jan ■ 15 // Feb ■ 113% Jan 21 • , 53% 91% 27% 53% 26% "51% :t " 31%. Jan 341/4 Feb 184 par Aug 105 -16% Jan .4 .100 103 Y2 17: 5 160 8 Hershey Chocolates— $4 conv preferred Hewitt Rubber Corp_ , '140 , 26 323% Jan 84% Feb preferred—— —No 27 Ya 140 103%" Jan non-cum 43% NOV Jan Feb 28% Jan 17 i— -15 — 39 Jan 15'/4 - 4 • Jan Jan 20 % 8 108 y 121 y Jan - 1,700 U 62 62 >>2o% 31% / 200 34 *33 v.-: ./. w- 60% 62% *110 55 .11%; *23 9% 92 > 26%. r-.'fcr 58- 62 26% ' " 27 58 34 " - 35%; 34% 26 v/ 521/4 ' 92 •/., *30% ; 31 -T 31% r, ' *61 '/; '• 33% 25%> Jan 155' 33 17 117% Jan - y Hercules Powder—No par i y :&% 30 preferred. —-X .100 -■/' 28% 28 6 preferred ;—-— 100 (G W). -25 Hercules Motors— 1,700 1,500 ; 140 Feb / 105 Ya Jan 16 -25 Co Co. 3%% Helme 7% -1 / >• 90 27% > 100 136% 90 140 .25%/ Y- *25 25% v 32. : S3 % 54% *135 27% ; 170 122 90% 33% ' 135 0) Hechfc 900 , 188 V122 139% . . ;..V.35%','35%- 139% 28% / , Glass Hazel-Atlas 170* , 88/ *87% ,*3334% : A .10,100 108 *184 35% 123 135 -.< '26 m 32% 54% ; 188 ■ 35% 90% i 27% ■ / 21 114; preferred—-—--; .100 conv. Jun 23 39 v 13 Jan : Jan 35% Jan 26'/a Jan 1 Feb < - 4,500 , 377; 108 *84% ; 85 v// 122% 140 33% 61 • 36% 108 *184 J %. *25% 26 32%. *110 135 mm 139% 33% 34% 33% 135 36% *36. 108 35% *88 ' , 29 29 14% 136 :%•?; 85-■ Y ( 122 135 89 16% '...,14%. *" a 139% 140 .29% : • *88 16%. 14% 136 31 25 ' : 39% Jan 4 H$rt; Schaffner & Marx——;— _10 Hat Corp of Amer class A—. —1/ y 12% Jan : 103 Jan 4% % preferred (modified)— .100 .1 14 Ye Jan Hayes 'Industries Inc —9 12% Jan Hayes Mfg Corp——— . ' 188 > 34% ; 1,200 / 1,600 ;yyy;'60/; 103 16% 136 36% *119 ' :: 42% 42% 14% ;V 15 *102 ..10 4% a 2,700 ;,w_ - . 141/8 , Y ,108% 108% ; 1 V;/ ; 137 88 27.% 27% ' —18 —No par Hanna (M A) Co $4.25 pfd—No par Harbison-Walk Refrac JNo par .100 6% preferred a -so.. 16% 14% ; 42 42 14% 14% >102 -y: 103 16% 136,. 124 *134% 135% 90 15% *85/ « 36 /•r 42% 13%; 103 " *35% 5; ' *156 ' ,f 13%. :: ^ 188 35% 35% . 13% ;• 88 , *184 188 35% " - 36 '*85 27% *158 , ; '* 108%: 108% , ' 139%: 36 108% 87% *108 27% *156 l.ioo //■'/ .560 106% 35?/a Feb Water.—. Hall Printing Co Hamilton Watch Oq._ 800 y 115% 106 f 16% 14% 138 140 115 108% 103 14% : •; 115% 104 Y 103% 104% ,*io4 ' 25% 114% - 1 ■ 31 25i/a Hackenstck . *105% 114' ' /•-*'.*•/v. '41%* 13% 13% Y. 14% 14%- 42% 42% 44 *42% 31 38 *106%. 108% X27W 27% -114 i. ; 31 25 *35 25% *30% 25 ••'.•. 25::. -V •'' :.: *156 *156 . £ YY:,Y 115 115 116- • 31 *35 31% -*35% 38 38 38: $ per share $ per share Shares . y v: Par i. t t ptrshare . .Year 1945 / Highest $ per $ per share per share ' Highest S:I^wes(y;|:s , share ' V:'- 421/4 42i/i 40 % 38Ya 81 *351/2 81% 99. 37 13% 14% 29 29% "79 *97 • illlgl IK-?!® s?.' 'y 42 39% .■ 421/4 y • * 42 ::V '"y .V: 40 80% -I.; •' j.- 97%. ,98 '■ 1 35 ■ 1 14 Ya 291/2 VV-;f 35% 14 ■ ;■ ■' • 293/4 *35 •/ 80% 19% 193/a 82 :y 82 1061/4 N 36 . 106'A 21 Ya 11 Ya ' ♦493,i • 503/4 109 11% 206 19 3/a 206 12 12% 30% .31% *97 10% 41% 98% 10% 42% 146 146 44% ,21 K 18% 18 Ya / y 791/4 109 y8 *106% 170 ij:0" . 18% : 94 19 Ya 20'/e / 110 Illinois / 29% 5,700 29 ' 12 79 *106?/a f. 107 f , 600 . 49 11% 49 •-./ 109 - - >108 . ••***' 41% 143 44 v.- 42% 42% *42'/a 26% 26'A ♦25% 46 46 *153 y 12% z / ////; 205 93% 491/4 109 19% 65 Ya Jan 106; Jan 135'% Feb Jan 25. Jan 1441/2 Jan 3 2 170 102 ' .. . —_1 JOY# Jan ilnterchemical Corp—i—--No par 4% % preferred ——100 Feb 103 Intercont'l Rubber—..—-4-No par 9% Jan 14 13%; Jan Interlake Iron No par mm'mm mmmm • Jun 34'/# Dec 69 Dec 104 Ya 166; 6 6 26 543/4 Jan 1091/2 Jan 109%. Mar Sep 13- 11% Jan 9 49 38 Jan 39% 14 *i 22% Feb / / Dec 92- 19'% Jan 18 1203/4 Feb . 7 14 .107Y2 Jan Feb .170 . Dec Dec §4 . 18- 84% Jan .107 13 17Ya'Jan 10 """ m 44 28 225/a Jan , 14 Feb 9 ; 16Ya Jan y 7 par 373/4 Jan 323/4 Jan 4 No par -20 Co Insuransharrs Ctfs Inc—- 30,300 v Steel Inspiration Cons Copper. '4,200 12% 19Ya 207 .. *96% 10% 401/4 10% 41% 10% 40% 12 144 42 /■•; 140 Jan Feb 82 '•'174 Jan ; 14 11/: 6 3 20% Feb 2 v Jun. Dec 10%; Dec Nov 57 y 104% : • •I9Y4 Dec .ll9/# Mar > Dec 105 8% Jan ;/37% jan 12%Feb . 109% Jan 6% Mar 8% Mar Oct 12'/#. Dec 14?/#- Deo .215 -/Feb . *175 175'//. 29 V 25 Yb 45 *153 9,200 .4,000 ! io% y 10 Y4 l0?/a 41% 41% 42 ; ' V 200 3,900 : -22,800 90 ^ 24,300 - 210 ; . .2,500 175 wst *147 28% 29 29 .42'% . 48% *176 / 3 5 10'/# Jan 3 y y /45.:/y: y *45 *153 : — 31,700 : j 5 36'/a Jan 139 y4 Jan - 175 42% - 45%: 900 v Jan . 41: Jan - 19% Jan Jan > 9YaMar 28 79 123- y 41 »/# July 39 Feb 92 Jan JJJ 1378/# Apr 317/a Feb" Jan 9 Jan 17 155 3 3 - » 36 145 : ... Aug 151' / NOV -. Dec 33 Y» Dec 33 / 41% Dec 30'/a . V Oct Dec Oct 46 152 /: Jan v : Dec 175 i •17Y# Jan 19 Ya Jan 16 46./Feb Jan 18?/# 2 Dec yDeo ' 57. Dec ; 453/4 Dec >18% Jan 2> Dec 24 *116 Mar Jan 15 29 3 193/i Jan 29 i.NoV ; i 84Y4 4»46Y< Jan 15 3 Jan : 129 2 22 Feb 99 11 Ya Deo * 38'/2 Dec 141 Dec / 48Y4 Dec k c Feb 6 Jan . ./313/4 Feb 13 - ■f: Jan 48 Ya Jan -204 21 ; 100%, Dec, 193Dec* yy 133/4 Nov 34% Dec 60%Jan 25 49?/a-Jan 30- - 21 148 ■ • 3 25% Feb Tntertype Corp__ ——No par Island Creek Coal—————1 y-. $8 preferred—— ——1 y 3 283/# Jan 39 / Jan 28 28 Ya 25 Ya Jan . 2 Jan 5 •122 3 106'/a Jan 5 75% Jan 5'/# Jan 17 1153,4 Jan • 21 551/2 Jan y 43% Jan Jan 7 148 ■ 14 / 21Y# Jan 2% Jan 11 113/4 Feb : 2 1121/2 Feb 178% Jan : ; 331/2 Jan , 13 '.Feb v42 74YaMar 2 16 28: 98% Jan 3 ■ Jan 14»/4 Jan 42Ya Feb 13 91/4 Jan 100 Y$ Feb .195 30 30 V - Foreign share ctfs-—i—No par .Interstate Dept Stares——No par *153 *153 Feb y 95 y4 Jan Intern! Telep & Teleg—jjj.No par 2,000 / 1,000 y/> 600 : 27 • . ylnternatlonal Shoe—---—No par .International. Sliver———50 vi 1% preferred——— ——100 29% ••42%'// J 42% 27. '// a/ 27 27 c y/r Preferred ——4—100Int Hydro-Elec Sys class A——29 ^International Min 4t Cbem———9 4% preferred——— 100 International Mining Corp ——1 /Int Nickel of Canpda——No par preferred ————--v—100 International Paper Cq— 19 y 5% conv preferred—4—-——100 4 Inter Rys of Cent Am———No par 6 % preferred 10a /Interns tional Salt-j ——No par 29 Ya *29% 45 1,600 175 a y 29 25?/a 400 . / 1991/2 -*147 / 210 59 473/4 •45% ./ / v 59 . 199% 28% ; 42% 42% 27 46 12% 32% ' 48% 28% 12% 770 98% ', 5§ 28% 194 : 98% 48% 29% 30 International Harvester—--No par 32 98'/4 59 29 Jan 92 / Jan 190 V2 Jan 195 Int Business Machines new—No par . / 200 *147 • r, .31%// 59 *175 42% 12% 48% 48 / 600 \„4,400 ■ 113 :,*57 194 y 95% «■' .144 /.y / *140 144 42%. 45% y 44% 45% 112 112% 112% 112% 22 22% y '/y 23% 23% 112 %• 112% f 112 112% 22% 22 ' 207 93% . *140 42?/a 112% • / 194 30% 98% /. it; 94% •193% 30% 29% 46 / ; 19?/# Jan Dec; 40Y# r29% Jan > y 47% jan 72% Jan 18% jan ■ 118% 120 49 28% 205 98% y 5814 48?/, 29% ;H 30 , *140 : •♦175 .,/ 200. *147 175 *28% 19 •> ■ 10% 58% / 18% 12% / 98% 29% 12% / /; 30% "31%:; 28% 23 ,29 Feb 9 ;18% Feb 14 —100 preferred. Inland 8,600 y uoo 1,700 ,, r 4% . -2,000 / 49% *108 10 i y 21% 113A :,.:.•;* 11 11%' 221/4 59 No par —————No Ingersoll-Rand— 98 / Jan 85 13% Feb 13 JNo pat Industrial: Rayon. $4.50 preferred A——JLNo pat 100 14 11 5 Indugtria Electrica De Mex,: S A—_ 1 . Feb 15 Jan 8 35 1000 Co__ >700 80 / , : *168 .y 110% .jfrys/Ailo v;,ii2r/••'. 11% 94% 94; / 193 f 193% 12% 22% 49 RR ' Jan 7 451/2 Jan 11 92 - Feb 43% Feb / 11 79 ; 100 100 yy.y 0.0 201 y 201 ♦112 i/a '115-// 195 11% 18% .18 »' , 120% 112% 114 Terminal 38% Feb 100 RR See ctfs series A— !v 38% Jan 21 —^—20 4;600 :///>18%:,18%/ / *11 49%w 109 11% y-^.rp-vii 193% 10% 41 „. Indianapolis Power & Lt - 192 *97 m) ,•■< y f Leased-lines 250 135% /<y*y;i36-yi37:%'. y 20?/a ; 11% *108 95 143 175 : / 20% *11 "•'! 204% 42% *147 90: m 6% preferred series A—— 7,600 •••/ *168.y -1121/4 -49% 120 / 48% 170 111 ; 51 45% *581/4 \ Power Co——.——,,, Illinois Central RR Co_.— 900 y-t-*35% / 36% 14% 14% . 107 135% . oq. , yy, 79% 137% ..,•* , Idaho 700 16,400 . . ' 19% 80% *106% '0 120% 22 »/4 22% 119% ♦175 14% 29% 18% : 137% •108 ' 109 y 12,i2'yy 204 95 '•■/ 94% 192% 193 k ■ . *Q7 / 35% 14 80 y :• ... 40% 79 % • 12 ' ; 19 51 : : . 77% :rj;j 113/4 y, *11 40 / • •1671/4 170 20% 99 :: ii i-y *114% 114% y V ' v : 80 35% • 29% . •'••. 29% 13% :,,lV*42.//y42%, 39% / ; 81Ya y' y> 1061/4 108 :138 139 Ya 111/8 *108 20 13% 29% y,-i«Bl% *1371/2 140 v *1671/4 ;yy / •■■■ 116 116 :: 21 *191/4 -• ® 42% 39 / *97 ' I; / 80 97% V 97% J1,1 •' 39% *79 /:• -42% 1/42% 38% 'f'.ViM '.'•y./y y ^ ; - yyyy/yysyy/y 221/2 22'/a 5IY2 51'/a *110 111 146'/a 148'/a 21% 5i% 111 142 ♦136 58 58 58 • *150 . 511/a *51 111, ' •291/4 • -.147 147 57 •>■ *114 116 *114 *150 175 *150 50 51% . 106 3/a 106 3/« 155 154 «/4 154% Y2 293/4 29 57% 116 503/a 150 29'% *1051/4 106 '/a 150- .• 21% y 51% Jii * 175 49 !065/8 29'/a 52 111 136 y 136 58 r>— *152 . *110 139 Yi 22'/# 21%; 116 50 y4. 513/4 *106 , 1473/4 148'/a' *136 ♦114 22?/# 29% 148 135 223/a 22'/4 . y 151 135 5.7 , *115 /■': 116 y *150 160 50 *105% 152 3,^ 20% i 67 6,900 51 Ya - 300 ' ' 57 : i : 4% y 600 ' 53 20 y 106'/a 106 106 Ya 153 154 Ya 158- 29'/a 4% Joliet Nr. , 6,300 1,300 • ,—100 preferred—— . 5% Feb 100 135 55 U4 Jan 2nd preferred ser St Chicago RR A——100. yi stamped—IPO pref series B conv- • • ' : 10Q3/4 Jan 126- •: Jan —-100 1 —I 3 : Kalamazoo Stove A Furn—1—10 29 Jan 21 Kan City P & L pf ser B~ No par Kansas City Southern———No par 4% non-cum preferred——100 119 y 6 79 Feb JPeb : 4- ; Jan 61 140 . NOV- Pec, Dec 46% Nov 105 Mar 911/4 Jan 19 Y# Jan 10 . 116 . 27Y# Jan 160 31 Ya Jan 90 Nov j. 137% Dec Sep 2 107 Y4 8 3 / ' 25% : 53?/a Feb • Dec 47 114 Va May. 145 y Nov Jan 31 109 , 40 Ya Jan y Jan 101. J18'A Aug 18 , "■ 2 ., 141'/a Jan 34% Jan 1093/4 Aug 583/i Jan .14 2 y .115%.Feb 15: 3 Jan Joj Mfg Co— : 52 ; 112 y.Jan 7 4 154 Feb / 2 14 y Jan . 22 Ya 19 Ya Nov 24%.Jan 17 Jan 31 3 46% Jan 109 Ya" Jan 31/; 141 y Jan. 2 : ft Johnsons———>—12 % —u Jones & Laughlin Steel—.——No par 6% pref series A—100 400 1,100 293/4 . jjj.jJ.No par 31/2 % preferred Johnson 155 • % Co—w—_1 €0 Inc—- Johns Manville Corp———Np par 1,900 : : r 1393/4 1 513/4 20% jewel Tea 40 115% 115% *150 Jacobs (F L) 1,400 152% *137 >•: 23 52 111:, fno 150 v* 57 , 5lY4* 611/4 111 • y 139 Pec: Nov 301/4 May Jr'ytf J. h; K 32% 32% 33 *119 29 *61 32% 31'/a ►119 29% 283/4 27'/2 63 *61Y4 37 37 *36 243/4 24Y4 23?/a 24'/2 24 33'/2 33% 33 33 32 29 29 footnotes 28'/# 31Y4 *119 32 Y4 28% 28% 63 *61% 62 37 *35 363/4 37 24?/a 25 28% .28 For 32 *119 28 3/« see page 27 919. Y# 32 Ya 27 Y4 62 •32'% 28 32% 32% *119 28?/# 62 *62 37 •25 . y / —' ' -'•••• 29 63 38 Y4 323/4 28 — • 33Y4 28.1/4 28 Ya 1,300 l-'M "-.v '■ •-' ■> 4,200 V 253/a 32% ; 100 38 25 ' :'• 500 , y, Kelsey Hayes Whl 2,000 Class B— con? cl A——1 -—1 • 20 34V4 Jan 15 117 Jan 13 Jan 34 23 65 Jan 3 38 31% Jan. 22 26 Ya Feb 31 Ya 124 : 9 27 Feb 13 34'/2 Jan 29 30 Jan Dec Jan 67 Jan 38 Dec 22% Jan 35% 18 Y4 Jan 31 Dec Dec ,4 , ' • Dec Mar 3IY4 Dec .18 3/4 Jan ,15 11 Jan Jan 3 323/4 Jan, 29 I22Y2 Jan 23?/a Feb Kayser (Julius) 1,400 3 36'/a Jan 62 Kaufmann Dept Stores —-1 & Co new——5 4,900 Jan 10 27YeJan- 9 : Volume 7 THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 163 NEW YORK STOCK LOW •;/Pr.Saturday/V •; Feb.5 $ per share HIGH vFeb/ll|> t per share 57% *37% 40 *60% 62% >> - 55% $ per share i . ' *18 18% 91% 91% 39% 40 10b i/a «0% •> • 0 p 109 37% *17 17% *62 ; 17 46% 47 46% 49 90 39% / /,45% ,".45% 49 49, v; 88'/a i 40 :. ' 109% 35% 16% ' i '• . 48% ' 47 $ per share $ per share : Par ■ No par 48 32% Jan 38 500 Kimberly-Clark No 61% Feb % i? m 900. C. 170 2,200 .V /•; Koppers - 400 3,600 Kress (S H) ./ Jftoger 38 10 Jan 31 18 Va Jan 29 Jan 16 No par: ; ;44 v Jan Grocery 6 Bale—Ho par 49% Feb . Nov Dec Dec 40 % Aug Aug Mar 112 35% 17% Oct '35% July, X49 % Nov Jan 50 Va Oct , 37 4 '9% Jan 3 19 96% -26 Mar 8% Apr „48% Feb: 15 \44 % Jan, Dec Jan 28 8 39 % Jan 67 107 15 Jan 42 110% Jan 33 Ya Jan Nov Jan 72% May 4 107% Feb —1 & Co— * 18% Jan 29 10 Dec 35 8% 14 100 Co Kresge Dept Stores—— 1,000 49 Inc.* Kresge (S S) 51 38% 30 -93% Feb share Jan 22% Mar 35% 6 Jan 68% Jan 16'/b Jan $ per $ per share 58 Va Feb 3 88% Jan 4%% preferred 3,200 48% 48% Co par -1 No par Kinney (G R) Co. $5 prior preferred-* w :*#>'100 • Corp : Jan Highest Lowest Highest, No par 18 48 • 48%// Lowest * / v Range Since January 1 ' / Keystone Steel ft Wire Co " 47 '' • Range for Previous Year 1915 V'..*' V, . VI Kennecott Copper., 37 17% 17% ' : r. i- STOCK YORK EXCHANGE 700 109% 36% : /V; 15,300 ;89 *108% ' NEW Shares' 401%,: 40% 36%. t' - t •!/J.64'/a :;/18% :.48%': *108% 36% : ; .17%-v > *63 ;,. RECORD ..'.*4aSTOCKS 36% *35 % 18% ; 90. 108% v 63 • 17% . 55%'.'57 35% € 62'% . *16% 49 55%: 35% •..<>/;*'• the Week $ per sharev share * Sales for Feb. 15 '//: ; 54.% 7 , 62% \V. 17% . 35 % - 46% 48% 37 108% 37% 17 ; 48% $ per a55v*:;' • Feb. 14 . /' *17 i 88% v90 39% 40% - 109% 36% • 54 37 ;';,.'40%'7 40% ■ 108% 37 % •: 91% :/Thhrsday>;> !£';/ivFriday,4'/ . 1 $petthhre , 37% 61%;. 61% 18 48% • /■ Feb. 13 , 56% 37% i : . • PRICES Wednesday ,V Feb. ' V56% SALE Tuesday Monday/ •V AND 24 Nov mm0n 8% 8% 52% 53% *45% .8% , . :/ 70 79 70 16% 163/a ://S 44 :: , 70 . 35,900 45%. 400 Lane 500 72 16 16% 16% ■ , .44 Va /Pi m,7 ' -.14% 5% ' 5V4 . , 2,000 58 ; *56Va 54% 13% 5% 57% 53 343/a 70 *57 53% 27% 33% r'.v • 27% 27% 323/4 33% • , 70 703/4 14 14%: 71 35 *91 93%, 93% 6,000 ,58 51 52% 27% 1,200 3,300 199 57 58% 79 80 , 199 : 58 Va 76% 78 .■'/ V- 30% 60% 30%f 42% — 00 1 43% 42% 43 42% 40 Vi 403/4 39% 40% 39 33 VB 38% 38 69 Va 69% 69% 30 30% 78 78 * 30 30 80 •: 80% 28%.:, 28% 7 193% 193% 31 •. 31 .70 . 28 28 37% 38% 29% 29% 28% 30 40 28% Monday *39% , 48% • :/ 36% 575 15 Vb •■42%V 7%/ - f 10% 45- * 31% :/ 56 48% 36V4 X36% 36% 25% ''«*!• S" • 6% - 40 - f 42% 42% 6% 112 15% 51 a51 61 •36 43 %r • ; - 38 38 " 38% • /7 36 68 ^ ' 51% *106% 1Q8% 28%; 28 Yt 119 ,: *27% 23 %' 108 ♦105 100 50% 7 105 Mandel Bros 22% 6% *80 10% -173/4 45 116 42 27 Martin 393/4. i39% 31% £* -^195 :n __ 1 56 8 *109% 111% *49% *115 36 55% *38 7- 39 81% 17 16% 7 163 *160 163 *89% 91% 23% 23% 54% ' 17% *111 *108 114 *108 114 46% 47% 15% J27- *123% /••:,'•• •; ''44 % • 41%- / 39 " *138 140 <- *114 '. 115% *114 Vb *109 115 *38% 110 29% *58 29 60 7 *48 51 . . -52% 109 49% For 161% 88% 54 24% r 54 m 113 Va *110 113 v;.7 110% *1073/4 7*107% • 114 777 47-:::.'; : , 127 *124% 128% 29 Ya "30% 15% • 30% - -:- 49 *109 47 48% *40 115% 115 7. \ 110 w - 39 *114 7*115 1153/4 117 : footnotes 77% 77% : 28% it/. 28% . > 31% *30 32% •i t ' 32% 32 53 Va 55 55 56% 19 19% .11 6i 32 54 *58% :•;/■ 18% in7 47% 110% 19 Va* 107 48 7/7 50 ; 16 VB 114 Jan X32% Nov Jan 190 166 Jan Mar 68 '.13% Aug 20 23% 52 30% Jan 14 Lowest v Jan. •, . • 47 49% $ per $ per share 42 % Jan 11 39 Dec Jan 155 May Jan 473/4 •76% Jan 30 $ per share Jan 147 72 Jan 10 31 % 5 106% Jan Feb 7 16% Feb 51 •38 3 287b Feb 16% Jan 25 5 18 '97s Jan 7 21 17% Jan 40 34 20 3/b Jan 25 Va 20 ■45% Feb -29% Feb Dec Dec 15% ? 18% 393/4 Feb 15 8 V 18 3/4 Jan .'•/ 42% 111 Dec Oct 21Jan 46% 9% Mar 243A Jun Mar 63% Dec 40 27% Jan 29 -45 Apr Jan Sep 109 6 29% Jan • 800 :7:- 1,600 393/4 400 7 1,400 7//*U4.>7: 1153/4 110 110 7/78% 28 % "V7 3,800 60% 50 >."• 32 32% 57 200 33 58% 7 31% ' ■" 19% 19% lOi'^ .48% 60 12,400 283A o48Va ■ "10 :2;:"7 82% *58% s inn/, 49 3/b 49% Mission 2,400 Jan ' 7% 1 t '777"; . 70 600 ser Preferred series A B Moore-McCormack Lines pfd (John) & Co cum Motor Products Corp Wheel Corp Motor Brass Jan 15 50 7 Co Mullins Mfg Co class B $7 preferred Munslngwear Inc 16 j Jan ' 28. Jan 413/4 Jan 104% Sep .109 Va NOV ;, 8 3/4 Jan 16% Dec 40% 37% Feb Jan 27 Jan 119 Jan 3 26V4 Jan 28 104% Jan 17 ;' 107 % Jan 12% Mar / Dec Dec Oct Jan 109% 94 Jan 108% Oct ... Jan 16 35 Jan 47% Dec 25 Jan 3 29 Jan 16 14 % Mar 29% Nov 76 Jan 87 Jan 16 87% Nov 38 7 51 Jan 3 2 543/4 Jan > 21% Jan 52 Feb 143/4 36/ Jan 63% 9 ;137:.% 8 7-53 29 / 42% Mar; V May, Jan 147 108 Jan 14; 108% Aug/ 4 112 112 14 11% Jan 3 16% Feb 8 par —10 7119/::: Jan 3 124 7/a Feb 7 34% Jan 2 13 42% Jan 29% Jan No par 114 —No par 112 No par No par 109 112 Dec 13% Dec 124 Dec 22 y4 Jan 37 Dec 5Va Jan .16 3/4 Jun 16 Vb Jan 49% 'Jun 15 36 Jan 7f 52%-Dec 6 26 Nov f;ii34'/a Dec ; i 25%: Jan 136 Dec 117/ Dec 116 Jan 8 111 Sep 116 Jun Jan 29 115 Jan 15 113 July 119 Apr 106% July 113 Jun 477/a Jan 76 Dec 21 Dec 24% Dec Dec 61 Dec • 1 :: Jan 110 82 3 . 29 Va Feb 13 ; % Feb 15 2 62 Jan 29 53% 56 Jan 15 41 34 V4 Jan 16 21% 54 Dec Jan 333/4 Dec 23% Mar 32% Oct 15 31% Jan 473/4 Dec 19% Jan 14 9% Jan 18% Dec 109 J/a Feb 6 97 Vb Mar 109 % Nov 4 29 Jan. 3 33% Feb 6 44 Jan 25 58 Va Feb 17 Jan 3 8 Jan . 1 79% Jan Jan;14- 7 3 . Feb 1/ Mar 23 29% Jan OO 109%: Jan 7 43% Jan, 29 » 2 54% Jan / 7 106 Dec 114 1 Jan 22 Oct 115 Va Feb 72 V* Jan 50 Dec 140 . Jan Feb , Va Jan 44 % Feb 2 32% Jan2 116 Oct 75 7 26% 51% Jan 52 13 -10 7Ve Mar .17% Jan 24 3 48% Feb : Oct Dec Dec Mar 160 58 Nov 49% Jan-16 114% Jan 21 • Mar VIS/:/ Aug 109 14 • Jan 16/ Jan 116 6 Feb 29% Feb 7% 35 56% Jan 15 4 ; Jan i- 253/4 Aug : Jan I 3 Jan 112 Jun Feb 24 -2 Jan •70 9 Dec 111 Vs 18 Vb Feb :' 6 Jan 15 62 Va Jan Feb 7: 56 106% May 37 53% Jan 22 45% May Jan 37 Jan 17 111 Jan 33 Vb Mar 760% Jan; 9 •ICBVa Jan 11 156 Va Jan ;/ 543/8 49% Feb 15 4 - Jan —50 No par No par 5 —1 —1 No par No par Dec 25 4 Jan Inc—-10 Dec 30 Vb 46 3/8 Jan 46 par • Nov 98% 23 107% Jan l9 ' Jan 31 109 % 13 Vb Jan Dec 41% Deo 17 Vs 110 2.50 Dec 70% 1093/4 293/4 Jan V 112 20 36 Jan 52 2 7 21 par 100 Nov 17 Feb 120 17 —100 No Dec $m 7/19% Jan 30% Jan'28 3 Jan 103 55% Dec ^■2477. Apr 104 7 Sep 13 27 % Feb ■ Oct Sep 32% Jan 30% Jan 4 107% Feb 55 114 / 19 %( 15 Feb ': Dec •: 27% Jan Jan 10 53 10 23% Jan 116 . Jan Aug' 110 15 69 Dec May 53 Va 8 41% Jan 2 Jan Jan 116% Jan 30 66 Va Jan- 8 106 Feb 37 33% 195 34 Va July 62% Feb 14 4 2 1097b Jan -14 "38 Feb- 4 31% Jan 22 . 3 *.-100 No $4 preferred series C Montgomery Ward & Co Mueller Jan 29 12 14 Vb Feb 63 No par Chemical Co preferred 3,200 4,10C l —— Monarch Mach Tool $2.50 Morrell 111 108% Jan No par Carpet Mills Hosiery Co Inc Monsanto 'Jan. 30 t Jan 10 176 Va 59 3 preferred series A Mojud 196 Dec Nov ;48 22% Aug 8 13 Mohawk 1,000 - Corp.: •Vi 343/4 Jan 30 Jan 21 7 Jan 53? 12% Jan No : Mo-Kan-Texas RR $4.50 i/v:: 31 .v.v *107 *47% 7'y 9.400 7" 117 Mfg $6.50 preferred— 5,200 ' 5,300 j 42% *115 7 32 Va Feb Moline Power Impl : 138 195 7 Dec 7% -62% Jan 10 7 - 397/b ,Jan Dec 11% 2 2 Jan Oct. 32% Jan 14 3 38% Jan 57% Jan 1 3% 1 Feb Dec 525 7yi5% Nov 7% Mar 23 Feb Nov ::• 4 46 Jan Nov •; 28 112 4 ' 24 15 Jan 11% Feb 3 - 14 14 443/4 Jan rVv 8 Jan-4 109% Jan 7 26 Va Jan 13 Jan 6% Jan 7%'May Dec 110 >/a Mar- 17 6 2 - Dec 52 Jan 110% Feb 1 D Minn " 50 // 393/4 77 i353/4 series Min & Dec Highest r share 28% 22 Jan 157 5 —100 preferred series C Minn 11,500 : 7/ Regulator pfd series B preferred Dec > Year 1945 Lowest Highest . 2 223/4 Feb 38 v 1st preferred conv Dec Nov 31 425 ft Jun No par 1,200. . 15% 46% / 4% 4% 31% : Steel cum 4% % 155/a 60 7;,. 50 • ~ ■ 18% 30 -—10 Petroleum 7 747/77 28%: t.;''.. S:S; 31 919. 18 195Va Jan -r—9 Copper Minn-Honeywell 113 15%' 78 Va 32 page • *124% 128% 7; 7/"317/ 31% . 313/4 see 55% .;v 463/4 •7109%; 110;; / 28 —5 Minn St P ft SS M A vtc 107 Va • . 50. 49 31% Jan 3 14% Jan . No par Co— —100 Minneapolis & St Louis Ry—No par /7;,7 41 7," 7/ /71347';. 134 76% 109 13 Jan" 23% Jan / 10 Co.; Products 8% 7' .- /' 41 , 38 -17134 *114 :s 7 ' 41% 38 :: 115 46% 48% 45% *58 483/4 Oct 1547s Jan —l Mid-Continent ' 77- 50 *107 49%/: 74 3 —5 —.i—X00 Midland • 7 15% - '15% 133 7"- 193/a 32% Dec 6 100 —1 25 *1073/4 • 153/4 61 ' Jan Feb 5 93 V/-*110 7 47% 15% 15% Miami -• 161% v::": 54 110% 51 19 - 15 Va 40% 10 24% • - X54 Machine Oct 28 51% Jan 89 89% 23% 89% 23% 32% 33 -•.;■ *107 161 52% 33 19 161 *58 31% 18% 18 58% *50 f 31% 52 -i. Mesta Dec 66"% 87V8 Jan 21 17 >• 17; Metropolitan Edison 3.90% pfd—100 34 160 Co— Mfg. Dec 37 VB .; Jan 50 31% Jan 72% Feb No par Merch & Mln Trans Co 111 17% ;;g:4(>;p .78 283/B 111 ' 110 *■).: 77% 49% 57 48% 115% *109 y& 78 29 81 "C47%/ 33 7 43% - 130'/a 115 • 17 -15 .'38'/a 138 *114Va 77% id 50% *114 27 81 ' . ' ;:•!• // 26% 33 T5% 45% 41 25 Vb Aug % 3 .' 17% Jan No par No par Melville Shoe Corp————1 Mengel Co (The) ——— 1' 5% conv 1st preferred 50 51% 56% 29% 493/4 .41' - ,.*50% 111 16% 48 15% 44% 45%- >49 i/t ••50%;! lr.4t «/2 /'3d 2 32% Jan par v preferred series A., $5.50 pfd ser B w w— 757%:;; //"••. 57V4 mM ' *110% 114 31 15% Feb 4 $5 •' 32% *123% 30% ; 4 72 3 -Moad.Corpi.4^*->«^«l*r>-J7o pat r 105 56 .*47 ; *123% 30% 30% •r.; >1043/4 . 80 46 107% 16 Ve *108 10 Va M'15% *15% 7 Stores McQuay-Norris 23%: 55% •in\ 47% 16% Jan 39% Feb 3 ;115% Feb —— preferred 33% 7*108 : ; ■• 46 % : 7'::.-*56 22% llO'/a ".15% *76 77745;i/ 53 , 113% *108 14 3 Jan par preferred—: co.nv. McLellan 28% :M06 26%' 57% 28%' •/"'i. 22% 106 25% 80 88% 53% 110% 45% Jan 42 Jan McKesson ft Robblns In<vi—;—18 $4 preferred ————JVo par 121 «27% 55% 23% 113%' ■ 28% *117 50% 150% 111 3 V2 % 108% /; i 44 160 *108 ♦106 32% 90 7 Feb 19 Va 62% Jan McCalL, Corp———* McGraw Elec Co 15% - 164 53% 40 28 JMcCrorjr. Stores Corp——**..1 Mclntyre Porcupine Mines 22 Va 43% B HI • ; McGraw-Hill Pub Co— *105 ? 62 39 27% 67% 57% - Jan Jan No par preferred— 51 106 *73 33% . 89 23% 53% 33 7' 57 19% 29 V4 27% Feb par u.—No preferred $6 1st cum 673/4 7 107% 26s/b 34 14 29 190 No par, ' 37% *106 25 58% "59% Jan 43% Jan 70 V2 Jan —100 50 120 27% --•31%. 22% preferred-^.- 673/4 28% ♦110 27% 111 35 3 13 Feb 28% Jan v4 par / —1 7 No 353/4 107% ;*106 57% *111 ? 39 • 7% Wks Maytag Co . 60% 108% 28% • - 27% 26 VB 33 Va £ 28 116 51 *110 - Dec 13 36% 33 Va Jan par ; Co^-w^ Alkali Oct 64 1 50 *106 50% 16%' ' 107% 50 Va HI Dec Nov —. ——No — No 35 50 28 ' ; 50% 116 43% *110 Dec 60 — Co— 68 *67% 68 *49% 81 M 35 35% , *105 57%. 843/4 Jan Department Stores™^ 5 K $3.75 preferred-. No par 7 -35%.: 36% *115% 116 / ./ 116 385/8 21 43 Jan 41% May $3 *115 62% 115% • a50 • -353/i 115% ' 23%i 58%- 47% 13 —5 L) Corp Elec Mathieson , *i09y2 — 35% / 107% 105 51 ' 60; 603/8, V 27% 43% (Glenn Master 32% 15%- 67% , • 83 9 Feb 5 V Market St Ry 6% prior pfd__„100 -i Marshall Field ft Co————No par . 4%% preferred 100 17% 44 31% : X55% 49 Va / 58% Jan 66 No par — Maracalbo OH Exploration Marine Midland Corp —; 40 31% 35 ' 43% 88 2 Jan -50 Manhattan Shirt 7 »/8 *38% *195 27% 26% 13 58 38 — Martin-Parry Corp 50% - •75% Feb Co———% Masonlte 38 107% : Dec -2 27% 34% 28% *106 50 29 % Jan 61% 27% *22 23%' *106 Mar No par —10 • 115 118 27% •32 7 41 59% 108 3/b 118 28% 7 18 60%* *115 36%; . *107% *28% ;; *117 : Feb 11 Sugar ' 14 VB — 68 so 60 47 Va Feb 6014 109% ^S-dimmer • 35%* 3 667a Jan Manatl *112 43%: 56% 11038% 68% Jan 1087b Jan 41 27% 49% 51 r 50 '47 __100 26 Vo ■ 35% 68 Va Dec Range Since January 1 .No Copper Mahoning Coal RR Co— . 10% ' 36 ♦113 Va 198 Magma 36% ' 112 40% >>.3i-; 62% 35 ! Jan —No per X60'/4 *38% ■ 116 . 181 • '*• 5; 6 '6177; 61% 36 9 . Range for Previous — 25 • 153/4 *115 -- Jan - pfd series A— Madison Square Garden- ' K : t 200 4V*% • 60 ■ . 111 15% 4 STOCK Mack Trucks Inc 42% •>*43/V "7 10% 112 196 110 51 / *115 *114 v; - 15% Oct 194 y2 Jan .100 7 : " *111 101% par -50 0 Macy (R H) Co Inc 22% 17% '18% /' 40 €57 3/4 Jan Forbes. 3,500 15%" 7 15% 6% lOVa ft 2,100 27 «/4 7 ; 575 V 27 *495 22% ; 42%' *42% - 17% >;:£ 32 78 .100 preferred 50% llOi/a ' .*3614, - 15 22% • 23 43 Va *196 ".:•■ 55 *110 575 14% ' 60% 40 ;•"♦>'• 56%: / ■' 15% 10 Va /-' : • *•'*!*', . 27% '•>•31% 24 ■M.per share 74 48% { 26% 77 L *490 575 6% '■ 42% - 25% 26% ♦490 *110% 60% ;,V, 48 110% V 26 32 < ' 45 Va 41% *196 103 Va Jan -10 YORK Mac Andrews Dec 14 EXCHANGE — 72% "• NEW 300 *157 72% *109% 223/4 ■_ 112 Dec 33 92% Feb Shares 38% ' — 48% 14% 41% 27 v G0% 40 : 71% 7 1)0% 'mm, 60% 42%* 26 Va ' -- 7.%-; 10%' 18%'%':; *110% Dec 33% • Jan* Dec 100 -10 Nashville. ft the Week $ per share 36 V4 ' 43 17% 45% *38% *1577 Sales for Feb. 15 $ per share 72 * Friday r 47% 22%* ;io% Nov 13% Jan -25 Lukens Steel Co ' 423/4 112 41 VB w 15% *'7 * 68 Jan 78 No par Co. 6,200 f *109% < " ■ Jan 7% STOCKS 39% - (P) prices *157 263/4 18%' 17% 45% »iio y« ♦40 10% 51% / % 28 Corp——No par 7%. preferred— Louisville Gas & El A. 27% $ per share 71 Lorillard Louisville Feb. 14 . 575" /v: 227/B 28 14% Feb > 6 *37% Jan 21 3 39 Biscuit 69 % Thursday 363/4 15% 74 Va Jan 3 " Feb. 13 ^ Loose-Wiles 40 Wednesday 48 V4 *490 24 >.:; 42% /// 7V» ■; * 15% / *23 f. 26% 27 VB •490 i• i Long Bell Lumber A *80d 2,000 $ per share 110% . 110% / 36%' And high sale 72% *109% 36% 49 *109% ; Dec Nov 35 Jan Ino ————i——.--No par 6,600 Tuesday Feb. JL2 , 72% 47% 54% 27% Jan 101 No par 1,600 29% 27% 40% • *157 Jan Jan 17% 3 15 Lima Locomotive Wks Lone Btar Cement 195 29% 29% 7;v . t per share 73% 36% 20% 15 .100 1,200 ,. 28 194: 195 ?:v .29% ~- ; Feb.*! 40 73 27% 27% *193% .77; 68% »"■ low Saturday *157 :~yy 70- | Feb. 0 $ per share 27% -■ / 195 28 . 18 59 Va Jan ..29 —.u 2,500 29% 76% 15 91% Feb No par Loews Dec Dec 15 11% Jan', Link Belt Co—-——-Wo par 22,000 70 * 58% Feb 5% 60 Feb 1/33 Preferred : Jun 17% Jan Jan Jan 63 y4 Jan —5 6% 2 % Mar 35% Jan 26 59 36 Lockheed Aircraft Corp 69% -77 28 $ 5% Jan 15 "'29 30 38 29% 17% Jan Oct 4 34% Jan' 70% 76 Dec 9 No par 35% - 44 14 No par 69%. m,- Jan .-28 i Lily Tulip Cup Corp 9,700 0 29 Vo Jan" Feb 31 Liquid Carbonic Corp 40 % 69% ;. Lion Oil Refining Co 4b . 29 Jan 26% Jan" si51 1,600 4oy» ^ Dec 45 Va Jan 57% Feb' •8 • , 43% 70 /, -50 90O ; 7 ;•;// 17% Jan' 28 17% 7 1,400 .2,100 *42 , Dec 72 Jan 3 30% - 637/b Jan 12 3 4% Jan" 64% 42 % 30 79%28% 4 Oct 47 3 49% Jan / V ,800 38% f, *193% , .; 380: V- 77 preferred — ctfs of deposit Liggett ft Myers Tobacco / Series B 3,200 58 ■ ~50 30 ' ' 63 31 . 54% 10 3 Jan ■39% Jan *12 Jan' 63% W 62Va >30% 7 197% 77 * " ."7*60 6 Jan 72 Life Savers uorp new 700 50% ^-,.1 Feb. 79 3 Jan ,15 — 800 91% 93% 197% — mm 34% 92 % 92 Dec 5 66 Libbey Owens Ford Glass—No par 7 Llbby McNeill ft Libby. 18,700 91% v//i—. Deo 39% 48% Feb" 61% Jan' Lehman Corp (The)—* .—1 Lehn & Fink Prod Corp .—5 Lerner Stores Corp (new)—No par • 4,900 14 4. *33% 34% 92 x92 / 199 *57 ' 34% conv Preferred 8,400 13% . . s| 6% 300 27% 14 VB x92 94% 199 - ; 13% • ) *34% ■ 48 Va Sep 4 Jan -50 —„ 12,200 33%/34% ,67 68% 27% Jan 24% 59 37 Lehigh Coal ft Navigation Co— -10 -26 Lehigh Portland Cement -50 Lehigh Valley RR— Lehigh Valley Coal No par 17,9,00 57 % 57 Dec 73/4 Apr 31 Va 6 7 —5 ; 4% 14 43V* Jan" No par —No par - 14% 5% 5% 57 56% - / / '*■' 6% Jan' "2 : CThej— Bryant4%% Preferred 11,600 441/2 -.44i/2 Co Lambert ■-,< 80 71 V. .—4 Lee Rubber ft Tire *75 ■ •. ^_- Col— Light *44% TT, - ; Gas 2,000 * i Laclede 53% ' 153/4 58 53% 'V * 8%> 8% 53% 77 *68% -v/i- "l» ;. , ' ' f 56 /.•■. 45% 14% 5% 57% . 443/4 44%' ;•//14% : 53 *72 • :V ' 52 3/4 46 *74 8 3/b . 99 Mar .Inn 43 Dec Monday, February 18, 1946 CHRONICLE THE COMMERCIAL & FINANCIAL NEW YORK STOCK RECORD LOW ' Monday Saturday 151-';? Ill '150 *111 112 21 55,, 54ft- *61, $ per in ft . ... in ft . 54 — , 112 160 ' .i 21ft 21 21ft 54 ft 55ft,. 55ft 64 64 * 1,700 300 & \ 24ft v Jan 3 Jatt Nash-Kelvinator 24% Chatt Nashville > 26% 27 "•/ ■ 31ft 31ft Acme 32 National Airlines 18 ft 19% National 19 ft Nat Automotive 27% National 31 % National Battery Co___ 33 ft National 30% 19 ft 37 ft 31 30 ft 27% 32ft *28 33 ft *199 . 21% National Can Corp— 42% Nat Cash ". 27 ft 27ft 41ft 42 65 28% 28% : 107ft 107y8 35 ft 35 ft ,107ft ft *195 *105% 35% 36ft 36ft *195 ft 197 ft *167ft 167 *160 62 28% 107 107 196 * 169 6% * 12 ft 74ft' - 37ft 198 167 ft . ' ' 169 m ' 10% 89ft ft 11 33ft . 26ft 27V8 19% 20% Nat Vulcanized 14 14ft I 14ft 31 31ft ' ft 27ft 27ft 19ft 20 . 14ft 14ft. V 32 • 32 ft ->58ft, 59 | i 22% 21% 30ft 30% 30% 104 104 A 104 ; 103% 104 '33% 21ft 22ft 31% 22 89 ft 88 ft >33 31ft , 56 ft 56 ft 57 *106 ft 38 36 1 *108ft 111 *108ft 111 *110 ft 112ft *110 ft 112ft .45% 46ft • 46 46% 31 32 ft 28 ft 28 32ft 29 ft - 30ft X27% 2 Dec -ft Nov ft, 32 ft Dec ;! 2 3 38 Jan 29 199 Jan 170 Jan 2 19 Jan 8 22ft Feb 30% Jan 3 54 ft Jan 24 177 12ft Jan 24 4 91 ft Feb 5 34ft Jan 2 18 20ft Jan 25 3 24 26ft Jan 19 Feb 32% Jan 13 106 ft Feb 5 55 Jan 4 108 Jan 10 17, 4 30ft Feb 13 24% Jan- Jan 14 Jan 29 40ft Jan 17 109ft Jan 8 4 108 / 111ft Jan 30 49% Feb 8 , 36ft Jan" 9 -29% Feb 6 Dec 167 ;j Dec 199ft Sep Sep ; ; * 10% Jan 15ft Mar 30 Jan 103 Feb 35 Dec 106 Oct 105ft Jan 32 Aug 18% Jan' xl6ft Aug ■•; ; 65 ft 31ft New - *280 345 110% *110 110ft 26% *50ft *50'A V 51% 274 I 277 S 123 123 31%. 15% 51% 50'/4 50'A 50ft i 51 271; 268ft i23ft ,31% 32% 32 32 ft 15% 15ft 124 *112% 113% 32% 114 32% 33 !U3% t *113% 51'A * 16 ft 17 W 57ft 51- 57'/a 19% ' • 19%' '"■119% • LOW AND - $ Feb. b Feb. 11 , HIGH T»esd»y j $ per share pet share : 18% 19% Feb. 12 $ per share - 52'/a 51ft 18 Norwalk Tire & Rubber. xl6% 32 ft *57 57ft *113 17 57 ft 18% 19 - - :'.17ft *57,' 19 19 ;< 33'% 113ft 57 ; ft Preferred • $ per share 21% 31% i 118% 118% 16% *119 29% 37ft •171ft *31%. -16 ft 30 22ft Ohio Oil Co 32 16ft preferred Oppenheim Collins 8 % conv ' fe 6% 3 1st 2nd 6% Teleg————100 — 100 preferred 1 Corp——10 Pacific Oil Western 12 ft Packard 24% 24% Pan 18 % ,18% No var Car Motor Corp—_2'% Transp—; -8 American Airways Pan-Amer Petrol Panhandle East 4% & Pipe Line—No par 100 preferred Paraffine Park 100 preferred. 1 & Tilford Inc —1 Utah Consolidated Mines—^.1 Paramount Park ..No par Inc Cos conv Parke Inc Pictures —-—No par —2.50 Transportation—No par Davis & Co 38'% 39 32 . —1 & Ref Panhartdle Prod. 4% 32% Parker Rust Proof Co.; 17% Parmelee 17% , s 23%" 24ft *72 73 H 55% 56% 41ft 42% Patino Mines & Penick & Penney Penn-Central Coal 15% 15% Penn 29% Penn-D:xie *30% 31ft Penn 112ft 112'% Enterprises... & Co new Airlines Coke Cement Glass Sand orefprred._: ..—No par Corp 1 Corp Co Corp ... • — new—...—7 No par 100 Co——No par . 24% 25 Penn 46% 46% Pennsylvania 43'% 43ft f Pennsylvania Salt Mfg Co Power & Light —10 No par Ford—w— (J C) 29 5% Jan *23 ' - 112 23 Jan 19 Jan RR__ ... 50 -.10 Previous 1945 Highest ■ $ per share I per share • 9 9 34ft Jan 15 : xiioft Jan: 14: Jan 7 Jan 2 Jan 21 2 1 2 17% Jan 18 120 ; Feb II 32 ft Jan 10 ' 39 ft Feb 2 173 Jan 23 Jan Jan 2 34 Jan Jan 30 97 Feb 15 75 Co..— 27 46 Highest 28 Inc——• Co—-—--—-10 preferred non-cum——No par Pacific Telep & :i 113 Lowest 91 Glass fear 1^ < $ per share 35 ft Jan Pacific Tin Consol'd Corp 3 18ft Jan, 166 10% sei 7 56 ft Jan Jan 7 89 Jan 30 — Mfg Marine & preferred non-cum—No par Gas & Electric—..— 25 Pacific Lighting Corp... No par Pacific Mills No .par 177 footnotes 7 115 Co 12; For 7 Feb J15 ft Jan 22 —.7 preferred Outboard 34% 150 44'2 • 28 Otis Elevator.. 38 ft 173 79ft •110ft • 13ft Jan .16 , Pacific . 49 21 Omnibus Corp (The)———. 16ft 120 Va v V Feb 45 ; 30ft Feb convertible preferred. 4ft % 118%; 118% S *26 ft .30% Feb 13 112% Jan 28 111ft Jan 15 1 —— Pacific : Coast 10'/a ; Range for Pacific Amer Fisheries ♦176ft 3 Lowest Oliver Corp. Owens-Illinois *149 2 3 Jan Range Sinee January 4.40% pfd—. Ohid Edison Co 21ft Outlet *78' 29 ft Jan 13ft Jan 111 $ per share 31ft ; *119 120 11 STOCK iORK Shares $ per share *109ft*111 ft 21% 3 Jaii EXCHANGE the Week Feb. 15 Feb. 14 Feb. 13 $ pet share 31 — 9 Jan 121 stocks:. NEW Sale* for t' .&>■■■%■* *109ft 112 —50 2.50 — ... 14 2 246 No par Norwich Pharmacal Co.— 19'A SALE PRICES 'W- —* 51% T 15%: 16 ft *112% 113ft 32% 17 ft 16ft *57 • 48 ft North American Co 34 48ft Jan 100 10 pfd non-cum 50 ft 114 50 32 ft Adjust 4% » 50 ft *113 , 124 50% 15ft 113 ft 50ft 272 xl07ft Jan 19% Jan North American Aviation 1 Northern Central Ry Co——.60 Northern Pacific Ry————100 Northern States Pow $5 pfd.No par Northwest Airlines —wis.—No par Northwestern Telegraph 50 15 ft 46 ft 4 50 Monday Saturday 31% 113ft 46 46 ft 17ft *17 ; ii 50'% : 50% 113 30% 113ft 32% 45% 46% : 46% 50% <37 *112% 113% 114 • 32 ft 31% ' *112% 124 *112% 31% 15% 4 15% 267ft 124 269 267 270ft 123ft v 26ft 26ft 124 : 32% 15% . 100 preferred aeries A. 100 N Y City Omnibus Corp No par New York Dock—No par $5 non-cum preferred No par N Y.tt Harlem R» Co : —80 N Y Power & Light 3.90% pfd—100 •N y Shipbiag Corp part 'stk—j.1 Noblitt-Sparks Industries. .' 8 Norfolk & Western Ry 100 6% . ri 110 26 ♦123 : 110 345 25 Va X268 - * 62 , 26 25ft - 253'8 *285 345 *110 .110% *110 25 *58% -62 *295 !345 36 ft 25 27 ft 62 *295 36 ft 36 36 127 *124 124ft *25 ft par Central York N Y Chic & St. Louis Co 50 50 122ft Brake——No pat New York Air 66 30ft 25 13ft Jan 22 ft 11'% Jan 23'A Nov 24 42 Jan 34% Jan Jan :'38ftMar' 121% 160'% ;i Dec Dec 175 • $ Jun 10 Jan Aug 32% Dec • 16% Mar 29 13% Jan. 20 29 ft Apr Dec 12 Oct Dec Dec Oct 111 iii 14ft, Dec xSO'/a Jan 106% K X39% NOV , Sep 4% Mar 56 Oct 75 ft Jan 106'A Dec Nov 149% Jan 16 fty Jatt & 5% Nov i 46 X60% Mar 6 Dec 89'% ; 45 ft Mar 48 110 < Pec mJuly 57 ft 27ft Mar.; Dec 32ft Jan ..33.% ;Dec 2% Jan 4V 5ft:iDec 29 ft Feb , v 2V/e' Jan 6%,Mar xl8 59 - Oct Jan i Nov 37 ft Jan ... 30 ft • Jun 10% Jan 64 32 110ft Jan 43 Jan 2 8 20ft Feb 11 15 Feb 2 3 • 26 ft, Dec 108 65 Jan 29 106 Jan 28% Feb 18ft Jan 25 13%'Jan 21 26ft Jan Jan 32 3 29% Jan 101ft Jan 54 ft Nov , > 7ft Jan Apr 22% Aug 15 Jan 26ft July 102 ft Nov 15 31ft Jan Dec 16ft Jan 21 Jan 33 Jan 11 Jan 68 i, 3 Jan 81 Jan 152 25ft Jan 25 41% Feb 4 13 }10ft Jan . 37 108ft Jan 24 , 12% Marilril 76 13 Jan xlOlft Aug 'Jan 28 30 , -1 Nov i 4 40% Dec 35% Jan 14 32% Jan ■ „ 67ft Jan 29 , 3 165 Co—...—No pat ——.^.o pat Neisher Bros Inc—..J——1 .ft., 4ft % conv serial preferred-.-100 -Newberry Co (J J) New....No par ft" 3 ft % preferred— ———100 New Jersey Pr & Lt Co 49b pfd.100, Newmont Mining Corp——..—10 Newport Industries —1 > Newport News Ship & Dry Dock___l 4.V 37% 84% Jan 9 195 ft Jan 12 Nehi Corp—.... 108 37 Jan- 106ft Jan -—tl Fibre Co Feb 48 •24ft Jan Natomas . 31 % 106ft 55 106ft >107% 23 V 30ft s; 104 ft 30% , *106 65 No par No par 13% 89ft 33ft ' 20 ft 41ft 12% Mar Jan 24ft Jan 20ft July ft ; lift May Jan 28 _^4Tft>Feb 15 2 * 12 & Jan 22 lift Jan National Oil Products 10% . , 7 19% 10% 14 37ft Jan & St'l Cast Co Nat Mali 37 57 » : 19% Dec 26 ft 57 Dec 38 19 ft 59 ft 30ft Jan Dec 30 > 13ft Jan 31ft Apr 5 45 ft Jan 29 4. Dec 195 21ft Jan 16 ,13 X26% 37 59ft -21% Feb 2 13 x34ft Jan 31ft /181ft Oct Jan 29 20ft Jan 43 No par -Co—.——.—4 National Power & Lt —No par National Steel Corp .25 National Sugar Ref Cor—-No par National Supply (The) Pa—10 $2 conv preferred—.... .>...40 4ftft preferred —-<—.100 National Tea* Co.....———..10 36 »A 36ft 31 2 Corp.—.—1 National Linen Service 22% 22 ft 23 ft *22% 201 5 4 —100 ...—.....100 preferred A 6% preferred B— 2 Jan Jan No par No par 10 i, 7% Jan . 13% 15 34% Jan $4.50 conv National Lead Co— v 23'A Mar 37 ft Jan Co————.—I preferred.; ..No par % 66 ft Nov 17ft Jan Nat Enam & Stamping 107ft Dec Deo 52 , — 34% Jan 4 {17ft Jan; National Gypsum ; 33ft Jan 30 Jan 28 Nat Distillers Products. 29% 2 115 •. 21ft v -1 Products. preferred— 13 28ft Jan 29 26% Feb National Dept Stores 62 1 62 29 ft *61 ft • 15 20% .fan 16 ft Mar 9'ft Mar 3 193 Oylinder G »s Co Nat Dairy 47 4 72 65 28 42 , *12^ 69 *62 • 45% 12 ft *12iV ft National Jan 5 31 Container.;...;..:J... National 19 ft X41 ft '45ft 546% • ■28 ft - 19 ft 19% 15ft 35% Jan 39 Feb 34% Jan 29% Jan 15 10 No par Register Jan 21 100 Corp & Share ft Nov 53 Feb , Jun Jan 25 No par 1 preferred Bond Nat 20 ft 44 ft 19% 7 % . 29 ft 42 ft 20 ft 43% 205 ' 48 52 ft, Jan 16 ft 3 3 . 15 15 25% Jan 15 . 150 v Deo Jan Jan 16ft Jan 1 5 ...—4 -—10 Corp Co. Biscuit 32% Jan 28% Feb 13 22 13 ' > •46ft Feb —•.*.—..*1 — fibres Inc Aviation 29 30 20 ft •ft 27ft * 33 205 *199 . 31% ' 22% Jan Corp.*.—9 & St. Louis..^l00 Co..-—..-.....---I 37 109 ft $ per share ■. ft' Feb 2 30 55 ft Feb 3 Jan 64 2 18% Jan x82 114 y4 Jan 18 iV;47ft,:;47ft: $ per share per share 20ft Jan 50 61 109 ft Feb Highest Lowest • 161ft Feb 15 10 142 Myera iF E) & BroJiii-k, ; 6,900 54 ft Jan (G C) 4ft % preferred Murray Corp of America. 4ft preferred —. Murphy Co 900 60' 112 20 ft $ Year 1945 y Highest : $ per share 63 . Lowest Shares 161ft \ 112 ■ Range Since January 1 STOCK YORK EXCHANGE the Week : $ per share 155 <■111% 20% 54ft 20ft __ Feb. 15 share Xl54ft 154 . 21ft 54 ft 20% 54 ft 20% 1 $ per share 154 150 111 *148 $ per share share I per $ per share ■. NEW Sales for Friday \.v:. Thursday Feb. 14 Wednesday Feb. 13 Range for Previous STOCKS HIGH SALE PRICES Feb. 12 Feb. 11 Feb. 0 AND Tuesday . ; 39%),Nov r30iin;Dec 17%. >Dec 24'A Mar 72 May Volume 163 THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 > NEW YORK STOCK LOW AND Feb. 0 Feb. 12 $ per $ per share 46 ■ . SALE Tuesday Feb. 11 : $ per share 46 HIGH Monday Saturday *46 Feb. 14 47 48 91% 90 40 40 38% 35% 36% '29% 37 30% 30% V 30 30% 29 > 116% *115 116% 115 *93 94 Va *40 % 42 'r; 14 42 G 11% 14 41 14% 39% 39 113 113 29% 30% 29% 29% 30 29% *119% 120 % 17% *107% 108% 107 Va *31 Ma 33% *125 V 53% *37 39 33% *109 *i25 104 104 Ms : 135 f > 15 Ma 103 Va 22% 22% 22% ;> 28% 28% 8 28% ; ;*i95 *205 43% *115 13 > 13% 21 v4 21% *120 , 130 90 90 *29 30 130 39% 7,700 40 *39 135 *125 , 34 14% *103% G ^ ' 28 Va > 83 207 *89 91 . i V 29% 29% ; 25% 26 » G; 25 "> . 42% 43% 13% G 43% 44% 13,003 13% 13% 13,600 iriitft 20% 21 21% 22 140 *110 85 *110 , 86 % 30 - 23 y 29% V,:' 30 ; .29% 29% • ;, 22% 35 ,'.v 35% 26 M4 26 28% 27% 28 Vi, 61% *60V2 23% 28% 27% 67% 67 Vb 67 .. 37% 261/« ■> 37 109 109% 109 120 y« 120% 120% 120% 134 Mi 136 133 134% 148% 149 26 v 149 > 149 114% Va , . 26 i 66 Va 22% 65 Vb 67 i 21% 22% 37 *111 112 37 > > 36% , /'G ;i >; 65% $ per S per share share< Xl32% .. ^ 4 26 14 Jan 3 16% Feb 6 9V« Jan 35 V4 Jan 5 41% Jan 10 19% Aug 42% Feb 22 31 Jan 118% Jan -.—.5 Feb 49 100 Feb 125 Jan 10 Feb 51% Hosier 40 % Dec Jan "71% Dec Jan 115 Oct 29% Nov 30 25 Jan 29%. Nov 117 Aug 14 5 ■ 122 12% Aug 31% Mar Jan 28 28 107% 14% Jan 36 56 y8 July 127% Jan 29 59- Jan 41 111 15 Nov Dec 74 Sep Apr 113 34% Mar 44% Apr 19% 44% Sep 8 13 No par Jan Jan 11 .,«___100 25 17 71 7 31 Dec 57 109% Jan 15 105% Feb No par Nov 38 % Jan Jan 47 Dec 15% . 21 Va 19 Va Feb 13 Mar 13 30 Feb 121 21 Feb 40 Dec 108 , Jan 106% 117 % Jan. 18 10 17% Jan 3 8 6 76% Jan 36Va Jan 21 >,_1 41% Apr 105% Nov Dec «124 Jan Dec 59% Dec Jan 11 11 Jan 35 Dec 35% Jan 15 25 Jan 37% Nov Feb 7 105 Sep 118% Aug 108 Va 2 15% Feb 8 8V« Mar 11% 102% Jan 25 105% Jan 23 85 Va 25% Jan 31% Jan 2 32% Jan 3 106% Jan 12 10V4Jan : par ,110 & Feb 126 Jan Sep Dec 106 Dec 28 20% Dec Feb 8 15% Jan 25% Deo Jan 28 Jan 205% July Dec 44 % Dec Jan 12% Dec Jan 15% Dec 21% Jan 7 23 % Jan 3 : 30 Jan 206 42% Feb 14 13 10% Jan 7 14 Jan 30 6Va 14 V2 Jan 3 22 Feb 15 8V» 130 ' 23% Nov Plate Glass Co______ 203' 10 Screw & Bolt^ par 1st ser conv ■ 123 48% Jan 15 39% Jan 7 Jan 11 99 117% Oct 65% Jan 3 86% Feb 15 49 Va Mar 69% 83% Jan a >91% Jan 30 68 Feb 91 Jun Jun 21 Jan 198 pfd—_100 pr 190 Jun 198. Jun Jan 22 Dec v Mar1 . 18 28% Jan 28 Plough Inc__———7% Plymouth OU Co_ —.—..a 26% Jan 30% Jan 29 12% 27% Dec 30% Dec 22% Feb 25% Jan 10 17% Jan 27% Dec Pond Creek 32% Jan 38% Feb 15 24 % Jan 33 Vb Dec Poor & Co class B 27V4Feb Jan 25% Dec 29 V4 Feb 7 5 12% Pressed Steel Car Co Inc.—. 16% Jan 26% Dec 63 Feb 6 70 Jan 17 900 * 26% • 28 Va > 62 »> 66 " >117% >G»: 'y 65% >/ 22% 22% G; 111% 111% / 400 ' 37 *36% 600 21 64% Jan 5 v _> 8% Pub Ser El & Gas 13 G 5% conv. preferred— Purity Bakeries Corp—.., 17 Jan 39% Feb 4 29 V2 Jan 28 115% Jan 10 102% Feb 115% Feb 7 126 2 106% Jan 126 Dec Jan 3 136% Jan 18 110 Jan 138 Nov 7 150 60% Jan 32% Jan 15 112% Oct 15 47% Jan 17 Jan 106 May 2 —100 109 No par : > 3 23% Jan 10 Jan 29 38% Feb 4 113 V; 23% EXCHANGE' Range Since January 1 Lowest Highest / $ per Par Shares $ per share Nov Dec Xl48% Nov 118 -Jan 65% Oct 24% Deo 112% Nov Jan 35 Nov Range for Previous NEW YORK STOCK the Week 27% 121% Jan 69% Jan 30 17 14 Jan Jan 117% Feb 114% Jan 23 21"% Feb Jan :>■>>:■>:.'> STOCKS v.' Feb. 15 66% Nov 9 No nar — Mar 3 , No par (Thel- 55 Jun 143% Jan pfd $5—No par Pullman Inc— Feb "23 Ye Jan — P«'*e Oil ■ 43% ' preferred 100 pref erred^. --i——.~»-100 • preferred 100 share ; G Year 1945 Lowest Highest $ per share $ per share S per share' Q » K Jan 132 Sales for Friday ; $ per share V Jan 60 120 17.800 . Jan 24 Feb 8,300 . 22 .1 36 6% 9 __50 scr 109 90 117% 65 % preferred No par .—No par >uc derv Corp of N J™. No par V : $5 preferred—>—»—_..-No par 410 ■' Pocahontas..; Feb No pat Public Service Co of Colorado 20 570 >'/-•; iThe) Procter & Gamble... " 5.100 . - 4Va r/o 900 . K\:[ Feb.l* , St 34% Jan 18% Jan ; >> 136% 147% 148 Thursday - , 29% i 2400 135 »: 111% 111% 36%:: > 36% 36% Feb. 13 $ per share , 133 Va. 147 ■£* Xl46>/4 Wednesday 1 ' 27% 111% 122 .> 23 23 22% 22% 17% 18 17% 17% 17% ..17% 88% 22% 22% < 13 4 Ptttston Co. 36% : 36%/ 3,300 > 27.% >26,100 28% ; 110% 111 Vt >• 1,120 79Q 121% 122% : > 37 Va 26% 111 Feb. 12 % per share ' > 28 Va 65% xl21% ;; Tuesday ;V.Feb, 11,:;;.:::;: Feb. 0 8 Feb 12% Feb 107 13 1,900 .. 38% 25% 25%- *61 LOW AND HIGH SALE PRICES G '/Monday-, Saturday , 41% Feb 21 Feb Pittsburgh & West Va J.100 Pitts Young & Ash pfd_-——100 ___ 3.000 500 23% ■ 61% *115% 117 G>;: 65% ::: 65. 65% > 22 >> 21% 22% G 36% >. > 27% V G,; / 30 38% 115%: 64% 21% ::: 111 112 36% , 37 >, xl 10 115% > 112 23 36% : 149 > 22% - 30 . 61% 37 148% : Jan 3 v5%% : 600 : 25% 65% lift 120 V4 122 133%: 135 y Jun 6,500 31 27% ; "26% - 109% 115'A 115/ 114% 65% G ■> 37% 26% 26% 100 ."'G.^^GG >>>•">;.' >:.//>: ■' , 25 23 ,,/X25G>' 67 Va 36 109% 37 Ma •198 .' 25 29% 37 . 61 65% ■ 1,870 91 >•; 23 > 27% 60% . - 86%, 29% . 25 27 62 116% ■ Pittsburgh Steel Co_ .No par : 7% preferred class B___ 100 /;= 5% preferred class A„..__w«._100 9,300 140 30 29% *198 G' 35% 26 ." V 29% . *24% 22% 34% G 35 23 *60% 67 29%. *87 89%:. Jan ' 24% 22% 23 Ma > *34.% 24% *87 >, , 25% 83% G: Y,<89%-89%>' *29 >30 ;-v"V ,*198 ,U'' :*i98>>sLi>> •• 84 V4 63 10% Jan Forgings Co. i Wayne & Chic Ry—10Q preferred. — 100 Pitts 12% 140 18 27% Jan Coke 7 % 13 Va 21% 82% . Jan 97 Pitts Ft * .81% 4 c'iic&burKu 43% ; 20 Nov 38 8,600 23% 30' *205 207 Jun 119% 107' 1,700 230 *195 *205 43% Jan 88 Va Jan Chemical Co—No par; 45 conv preferred— .No par Pitts Consolidation Coal Co—-1 . 29% / July 19% Jan 92% No par preferred Pitts 3,700 105 22% 23% 22% 28 *195 17 30 Pitts G C & St Louis RR—i-GilOO 15% 105 105 $4 Nov 38% 36% Jan 117% Jan . 30% Jan preferred™..^-* Nov 3 4 com__ 21 Dec . 14 Jan Pucenix 70 4 46 26 Va Jan 28 Pillsbury Mills Inc ,80 J 135 14% 14% " 43% par No Phillips Petroieum_-«..^ 200 *125 >G34G> 96% Nov Jan' 1 Corp__ 1% 52% >52 Jan 14% 7 ;• 200 69 Feb Pnilip Morris & Co Ltd— 4% preferred Phillips Joues Corp-i....^ 3.903 G; 31% 15 preferred.:"„. ^..'00 Philco 98,000 109 *125 52% 39% . 15 *120 83 108% *30 109% 12% . 5 140 82 140 ; 51% 49 51% 108% 30%: Jan Jan 51% Jan 25 40% Jan 11 Jan preference 4.4% 6,300 15 96 12 71 No Phila & Read Coal & Iron^; 19,200 34 '> 33% *109 > 110 V , .42% ... 18% 42 ■ 13% 21% - 44 43 44% 13% 21V4 20 18 41 Va 48% Feb 7 Jan 112 preferrcd_^«^.__; Philo Electric. Co. com $1 2 Feb par $6 • 2,700 124 17% 41% 51% :>>>>>>> *205 207 r-> • *121 121 31 22% v28%, 28 5*195 , 29 % *30 > 105 22% 29J/4 • 29% 50 Jan 34% Jan 4%% 2nd preferred___„._».._100 11,200 *108 V4 . *103% 23 % *195 29% ' tper share 111% Jan Phelps-Dodge' .Corp_._>_._i._ ^^._25 Philadelphia Co 6^ preferred.—50 700 : . 135 14% .- 29 *125 34 *125 15% 103 % : 14% 28% 49% 40 21,200 42% 74 •: 108 >» : Highest $ per share 36 Pet Milk; Co..;........... ..No par ; $ per share share Lowest 90 prelerred——»^100 ' . 43 Peu oleum Corp ^ American. ——-8 2,100 Pfeiffer Brewing „No par r*uzer icnas ) e& Co AiiC——— 6,400 113% 29 Va $ per Par.. ■''■. 2,600 109V4 > :> 108% - , 73 Va 113% 74 17% 52% > .33% 110 *125 135 • 15 . ' 34 34 *109 V» 41% 41% 113% 40 y4 130 51% *37% G- 52% 39% v;39% 33% 110 . *125 130 52 Vi 31 40% 121 - 109 . 39 Va 29% 53 107% 14% 40 %' 28% 17% *30 14% 39%: *112 40% 10 12% 14 Va 40% 300 <•. , 1 14 Va , 124 51% ; > 31 *125 130 53 > 53% 108 42 29'/a 17% 41 % .700 109 12 %:?■. GG 73% 40 - 17% 40% 52% 31 , *120 18% 41% 53% M* *40 *107 12 'v 112% 29% 29 %: : 124 *120 41% 52% 17 74 29 30 Va 29% 40 40% > 112% 96 109 14% G> 73 V4 95 Year 1915 Range Since January 1 ' Lowest Highest • Pere Marquette Ry Co__».»^._.lOQ' 5% prior preferred „^-..___100 500 " i-vyvGy ■ Peoples Drug Stores Peoples.G L & Coke (Chic). 100 & Eastern Ry Co„— 100 Pepsi-Cola Co ___33%c .2,100 ;• , Range for Previous STOCK Peoria 23,300 32 116 40 39 % 300 37% 31% 93% *11% 11% vi 39%.' 41 113 75 • • 800 116 . > 3,100 : *107 V % y 39 , y 40 36% 30 116 91 Va . » 11% 14% 39% 41% 73M4 *113 40 107 93 40 36% 36% V 15 39% • 39 40 .93 92% 40 *114% • 92% 107 : ~~ " 42 ' 107 V 48% YORK »> G ■>.■= EXCHANGE; Shares : 48% 49% 30 115 >92 9J *106% 11% " 93 *40 Va " *106% 107 11%* '37% 36% NEW the Week $ per share 38% 39% >92 Sales for > Feb. 15 91% 91 3b % > *47% 43 *115 Friday I per share 47 ••• 91 Va 91 tt40 STOCKS Thursday $ per share > share RECORD PRICES Wednesday Feb.13 > 917 89 % 88% 88% 89 19% : 22% 22% 21% Jan Quaker State Oil Ref Oorp^ 3,000 23% Feb 10 6 > 15% Jan 22% Dec R 17% 318 Vb 87% : 87% 20% : •20 Va 113 ,112% 48% 48% 26% ■ ; 32% . , 46% ■ \ . 47 ' •43 Vb 26% *112 27 38% H *31 m 32% 3,100 52 31% *50: *117 123 *29 •118 % 123 30 55 56 38% 38% r 107.:. 103 % 38% 37% 19% 23% 108% *108 37% 120 : 120 44 29 19% 19% 20% U 113%: 107 ' * 118%: 118 25% 39% *43% 25,500 M 106% 38% 43% 119% 25% : 3,800 350 27 39% 40VB *43% 44 30 38% 44% „ 2,700 13,000 — — III! mi ■" Reo Motors. MM i ■ 33% Feb 4 ,19% Jan Jan 18 8 46% Jan 9 3 28% Jan 14 > 11% Jan 102% Oct - 52 113 Jan 15 125% Jan 17 27% Jan 7 31% Feb 4 17 40% Jan 33 % Jan 2 Feb 1 22% 22 39% Feb 7 > 22% 101% Jan 2 -10 h >1 ;G ... 1 26 , Jan 15% Jan : 2 7 / 60 105 Republic Steel Corp-G..>....No paf : > 6 % conv prior pfd ser A *» #»«*>«* MM 100 Revere Copper & Brass No par G SV4% preferred——..100 -—No pat 5%% conv preferred——100 Reynolds Spring 1 Reynolds (R J) Tob class B 10 Reynolds Metals Co 3.60% series 27 25% 25% 25% 26 16% 29% 16% 29% 16% 16% *29% 26% 27 26 1$ 30% 16% 16% 30 30 11% 26% 12% 11% 12%. 27% 26% 26% >48% 49% 48% 27% 26 % 30% 12% 12% >; 26% 49 G 27% 49 27% v% 27 62% 62% 27% > 62% :•/: 267/<f : iZ > 26% 3,900 16% 11,600 30% 400 13% 12,600 ' ' - 12% 48 % >27% 49 48% > 12% 28. 11% *26% >49/--: ,49 > 27% '28% ■ ■ 26% 16% *29% 30 31% Jan 15 >21% Feb 15 X26% 27 27% 28 2,800 Roan Royal Typewriter.. ; , 110% Jan 45% Jan 15 Jan 8 136 47 Ruberold Co Jacob... 2,800 8t Josepb Lead— _10 Safeway Stores..— ......—5 > 5% preferred———...^100; —No pa*, G (The)— .——5 102% Dec Dec G 137 Jun 143 Dec ,31% Dec 44% Dec -36% Dec ;/ • > 102% Aug Jan 29 28 Nov Oct Nov Jan >>•37 > Deo 98 ; 110 15% G Jan 117% Dec 14% Jan 31% Jan 29 37% Mar 8 Feb 4 > 99% Sep G 16% Mar G 10% Jan 16% 32% Jan 14 13% Feb 5 29% Jan 4 . 115 > 24% Jan Feb >17% Jan ,9 Dec 33% Dec Jan Jan ' I)ec 18% 87% 42% Jan 14 107 Ruppert, 700 Dec >46% •>' 7% Aug 16 > 27% Feb 2 3,500 15 V4 3 14 3 23% Jan 15% Jan 24 27% Jan 3 3 10% Jan 9 26% Feb 2 44 Jan 26% Feb 13 99% Jan Jun > 28% • Jan. Jan Nov 29 V4 Mar 50% > 11% Jan 43% Feb 1......—1 25 ; V'19% Jan 104% Jan Mfg Co. —1 No par Company —No par /: Antelope Copper Mines — 43% Dec Jan 6 40% Feb —100 Richfield Oil Corp Ritter • 113% Jan 29 26% Jan 15 : Rheem '* 8 , 10 Common Preferred 29% Jan 2: 110% Jan ; 4 21Va Jan 3 107 % Jan 11 ;; 31% Jan 7 ,113% Jan 2 3 20% Jan 2 37% Jan Feb 69% July : Dec 38Va / 43., Mar 36% Jan 2 4 • 180 > / 112% Feb .„1 Inc.— Republic Aviation Corp— 700 / 106% 106% 106% - 8,300 110 119 39% 39,700 . m 24% 38 25 106 40 113 *109 119% 39V4 . , Aug >34% Jan 3 Dec > 111 Mar 1 4 Oct •18% 16 Feb 38 % Feb 4 No par 90 Vb . 33 6 28 3 106% Jan Preferred with warrants^..—. -25 2,000 21% ——. 200 ' 49 % Feb July ' 3 ' 26% 'V ,29% 23 y4 37% 25 40% 44% 106% ; *106% 107 ■ 118% 25 > & 24% 40 % 16 G 105 *112 110 36% 37% 36 Va 5,400 • 103 11' 19%. Dec Jan 7% Mar .100 & Co 1st pfd Remington-Rand 500: , ■ 10% Jan > 78% V .100 Preferred"., (Robt) 112 % Feb •• 23% *109 - 20% ... ;;84 113 23 110 *109 25' 44 38% 55 *29% 38% •112 23% 23 " 119% 37% 38 36% „ 3 3%% Reliable Stores Corp Reliance Mfg Co. 1.300 30% >9 ; Jan 2$: 92% Jan 19 > 21% Jan 28 10 Reis 100 105 107 *103 F';109% Jan ; 50 121 38 38% 28% 39% 4 :G44l:?G *106% 38% G; 29% 55 : . - 29 *112 24% 119% G; 26% 40 55 19% 108% 109 G: 37% 37% : 26% 39% • :GV;55::;G 28 . 39 23% 38% 30 117 200 ,3,300 ■112 '/>:• : ' 113% *112 37% : ,29%. 37% 39% 55 > i'J 117 29% 28 27 *110 : 45% *44% 112 v: 112%' 117 200 50 pfd—. .100 Purina Co • 27 :: 109 19%, 20: A 113% 55 27 50 51% 44% *103 107 *103 19% ; : . v44%' ■ 29% 37% 56 29% 23% 118 29% 30 38% :• 111 118 , 29% *112% 43% 27 30 *55 30% Va 43% 27 • 28% > 31% 3 ..50 GGi 26% Jan Reading Company— 50 Jan / 4% non-cum 1st preferred—. —50 43 : Feb 4% non-cum 2nd preferred- -50 ;G 25 Jan —5 Real Silk Hosiery-... > 6,900 1,600 30% 21 >7? Jan Raybestos Manhattan —No pa* >>41 v 21% Jan —1 Rayonler Inc.—— .25 37 Jan $2 preferred —.i—— 1,300 26% 38 111 ' : 47 v.'G'25%- : 26% : 38 : 38 •50 112 112 112 Va * "45 .26% g >48/> >47% 26% Feb f; 15% Jan Ralston 60 112 Va 38Vb " 44% >112 Vt 18% Jan t-Gf87.i 1 Wadio-Keith-Orp* "um 53,200 20% 30% . 52 *43 ; 38% 30%: 31% *25% 20.V4 112%;: 1,600 91 90 : 20 *112% 477/8 89% Radio Corp of Axner—.....No par $3.50 conv 1st preferred—No par 50.700 18 25% - 38 Va *50 52 *50 • 38% 38 31% : 26 :/ 26% M 25% m 37% 20 • ::ii2%;; 112% 112% 49 *112% 19 p. 20 % ; 20% iG'17%: ,{ ' 23% Dec > > 40 106 G Deo 26% Dec > 18% Nov Jan 6% Aug 19% Apr Oct >>46% Nov 31 Dec >12% Dec 29% Nov 33 Mar ,:>| 48 Oct 21 Sep 34 Dec 37 Jan 56 v Nov 50% Feb 34% Jan 6 Feb 11 28% Feb 6 19% July 110% July 9 ' 27% 16% 103% 107 Va 107% *106 107% 36% : 35% *75% • 76 .;'/ 30 > / >113 16% 16 Va 15% 106V4 109 104 57% >: 110 •106 107% 36 35% 74% 74% 109V* 57 •108 30 > ./ 35Vb 74 • ?9% 16% 16% 16 43% 42%; 43 ya 42Vb 43 21% 21% 21% 21% 20% 23% 22% 40 y4 39% 23 23% 38% 36Vb *27% 27% 82 80 23% 23% 75 31 Va 75% 3iy4 13% 14 For / footnotes 104 105 27 78Va 78% 23 23 36 :>75 ; • 26 /a 79V8 *23% , 16V4 75V4 13% 12% 13 127/b 13Vt page 919. 10 . 36Vt 757/8 9,700 ; - .; 600 43V2 41,600 16,300 - j; 25 ; 60 8,200 40 4,400 105 140 27 Va 80 80 24 24 4,200 500 G ; i 1,500 . *75% 76 150 30 Va . 31 10,400 13' 13% 11,600 63 52Va Jan 3 25Va Jan 3 113 Jan> 4; 114 $4.50 preferred^ . ......No par No par $4 preferred Seaboard Air Line ctfs w l^.No par 5% preferred series A w i_„__100 Seaboard Oil Co Of Del_. No- pur Seagrave Corp^... ..5 Sears Roebuck & Co.. Servel Inc common—. $4.50 preferred 107 Jan 31 107% Feb 13 33% Jan 4 Jan 12 18 Jan 28 126% Jan 11 59Va Jan Savage Arms Corp ——.8 12% Jan 8 Schenley;Distillers Corp—.—2.50 ; 103 Vt Feb 9 Scott Paper Co 1— No par^ 53 > Jan 23 > 10 30 ••'>;>>:; 1,500 16% 1,200 27V4 30Vt 13% 200 , *104Va 75% 29 »/2 see 26.900 ; 39% 26 80 31%, 12o 221/4 23% 27% 79% 30 *76 • 10,200 110 112 Vt .112%, , 105 31 Vb 77 G > 17ye 42% > 37% 30% •76 6,200 21% , iV 23% , 105 29% 15% 42% 21% 112% 112% 37% 26% 24 Vb 23% > 23 105 , . 277/a \ *107% 109% 74J/a 21 62% 111% 114% 58 58 *108 29 42Vb 38%" 80 , :. 29 15% 23 - 27% 27 *78 . 112 22% 39 Vt 105 105 105 *111 Va •111% 113 113 16% 114 / 74Vj ,/>. 62 27Va >*113% 113% *107% 108 35% 36 21% *111% . *108 :16 16% 42% 113% ' . . . < 36 , 74 16% V 113 107% 107% 29 30 30 110 ,, , - 57 . > 27% 27 16% 16% >110 V* 112% *56 59% 16Vt *107 60%G 61 G 27%/113 62 60%. 27 *56 58 *56 . 113% 113% 113% 16% 108% 113% 63 27% 3 114 Jan 24 110 Jan 11 . 8% Mar , i 41% Aug Feb 29 'Nov 37% Jan 'G 77% Feb 16 8 G; 65% Oct > 32% Jan 10 22% Aug 17% Feb 8 29 Jan 12% Jan 8 36- Jan 2 20>a Feb 13 „Nopar .1 111% Jan 3 Shamrock Oil St Gas— i • 20Vs Jan 3 8haron Steel Corp —«.....No pat : 26% Jan 2. $5 conv preferred —No par >>98% Jan 7 Sharpe & Dohme_.__. *.~~~No par 23 Jan 4 $3.50 conv pref ser A.—No par ,t77 Jan 2 Shattuck (Frank G) —No par 20 Jan 4 Sheaffer (W A) Pen Co No par 66 V Jan 4 Shell Union Oil——I—-——15 > ■ 29% Feb 14 Silver King Coalition Mines —.8 / 11% Jan 3 ~Nopar . - . : . 45 ya Jan 7 > 35% Mar Oct 24% Jan 17% Mar 40 Vt Feb 7 107% Oct 7% Sep 16% Jan 106 Feb .27% P5b 82 Feb 7 17 113% Jan 9 28 Vb Jan 22 78 61 Vt Aug ,/; 37 G 71 Vb Dec Dec >; 30% Nov 14% Dec > 40 Nov v 24% Oct 114 Jun >21% Dec 28 Dec Jan 100 Oct 4 12 Vb Mar 25% Nov 5 74 79 Vt 6 Feb 8 59 34% Jan 18 24 14% Feb 6 77 Nov 114% Jun 113 May 13% Jan 25% Feb Oct Dec 124% Dec 109% Nov 108 % May 3 67 14% X42% 28% Jan 26 . / 28 115% Mar July Aug 5% Mar Nov 22% Nov / 70% Nov 36% T)eo 12% Deo . THE COMMERCIAL & FINANCIAL CHRONICLE 918 NEW YORK STOCK Monday Tuesday Wednesday Thursday Feb:11 Saturday Feb. 12 Feb. 13 $ per $ per share Sper share 48 %• , 47% 48% •' .V47/.Y: 48% 44 / 45 *44 45 share 191/4-. 19% 19% 57 57 Va 57 57 25'/a 26 25% 25% 23% 23% 23% 23 Va 23 Vs „ 83 Va 82 82 37 35% 17 17Vs 17 -K 35% l7'/a 8 Va 8 34 % 34 34 5734 56% 57% 183% *180 183% 36%'. 37 26 25% 25% 64 62 63 Va 54 56 *25 62%56% 57 88 88 95. 93%- 24 23 23 12% 13 12% 13 Va 44% ' 37 37% 37 76 76 23% 23% 99 *9814 39 47 Va 113% 113% 36 % 39% 130 40% 40% 68% 68% 22% 2314 . 115 Vs *118 45% 46% • 67 67% ■ :Y 22% :; 19% / 18 Vs 108 •123 124. *106% 19%. 31% 32 31% *108% 127 127 128 &>! 47 47 39 48 48 Y//.'-" 45;-: Y: 39% 39i Nov Jan 24% Dec 62 Nov 60% Dec 88 Jan ?o 64Va Jan- 87% 'Dec Jan 66% Feo 6 38% 4 96 Feb 15 3 25% Jan 29 11% 3 13% Jan 29 17% Jan 21 14 Jan 80% Jan 42 Jan 73% Feb 19% Jan - V 95 93 Dec 21% Dec 12% Dec 7% 15 Jan Jan 6 % Mar * 20 Dec Jan 3 Jail 29 80 Feb 45% Feb 6 32 Mar 40 V2 Jan 7 30 95 27% Jan 39 47 % 13 83 Jan 15 Jan 83% Jan 3 25% Jan 15 12% Mar Dec Jan 5" 23% 94 99 Jan 29 76% Jan 16 37% Jan 99% 61: Nov % 75% Jan 39 Dec 55% Jhh 2,ioo 5 17,300 19% Jan 14 40% Feb 113Va Jan 2 4 ,1X5 17 30% Jan 4 Jan 49 Va Feb 31 43% Jan 21 3 114% Jan No par 7 134 Jan Feb 9 149 15 44% Jan 11 38%' Jqn 33% Jan / / 69% Jan 10 56 13 25% Jan 17 19% Aug t 12 108% Jan 17 24% Feb 15 49% Feb 7 34 45% Feb 6 3 108 • 9% Jan 20% Dec Aug 47 Dec 34% July 45 Oct 106 NOV 8 23 101% v 13 15 34 V« Jan 30% Jan 147 YY/A/47Y/Y: ' 600 / 900 40% *46 ' Y' Corp..—-—1 17 '/a Jan 22 20% Feb 106% Feb 15 108'/a Feb 73 Vs Jan 10 Sutherland Calif 18% Dec Dec 109 Aug Y 57 73 Va Nov 2 Jan 10 9% Jan 17 3 23% Feb 4 25% Dec 3 35% Jan 10 22 i' Aug 33 Dec 14 135% Jan 15 79 Jan 137 Dec 3 25 1 Jan Feb 123 :■ Oct 119% 127 Vs Mar Aug 5% } I 10 9'/« Mar 36 Jan 51% Feb 4 10 38 Jan 21; 40% Feb 15 31 Aug 48 Feb 11 60 V4 Jan 18 Y 17% Jan v 32% Jan 3 5 vY 30% Apr 32% Jan ?2 7,100 Swift International Ltd / 7,900 8ylvania Elec Prod's Inc Wr>- par $4 preferred—.No par i'/ %:■ 37% Jan 21 200' Nov 16% ^ /'109%: Dec • Oct 3 40:'/// 110 • ' Dec 100 (The) Co—— <s 33% Jhn swiTi Y". Nov Jan 5 ' 12% Corp—; Dec 22 24 x31 V4 Jan 23; Paper Co Sweets Co of Amer 200 28 V, Jan Jan 8V4 Jhn 34% 39% H' *109 125 of Jan 18 Vs 20% Jan 4,400 40 34% 11 1 ; 12F Dec 25% 10% 5 64% Feb 15 (Class A pfd (4%ft cum) —100 Sunray Oil Corp—; Sunshine Mining Col——100 Superheater Co (The): No par Jan/ 23 A preferred-—No par Superior Steel 2,700 : 53 39% 39'%i / • 108 V* 6,800 47 39% ■ - ' ■ , * 15,500 Sep 16 10% Feb Oct Nov Dec 15 23% Jan / Nov 27 108 105% • 35% Feb ; 19V2 Jan & Feb 24% Jan Jan Dec Dec 68 Vs 25 22% Feb - Dec' 49% 44% 65% Jan : 10; Superior Oil 130, : , 134% 0 Bna Oil Co'——JVO par 14,200 .' 39% 38% 39 : 8% 20% 32"""".. •124 X34% /: 34% 35 Va 110 / • ;/";"3i% • 48 52- .. 124 8%20%' 32%. • 39 39% 37% *i08V4 • • 39% "39% *46 52 W 34% 109 *123 21% *45% •■:/0 1,000 Jan' 40V» Feb $4.50 series 80 65 / ;Y, 8% .. 107 64% . 14 10 / 23 23% Nov 121 Dec Jan 67% 78% Jan Dec 115Vs Aug 2% Jan" 49 V8 Jan Dec 49% Jan 111% : Dec 116 Jan & ;; 45% Jan 25 par Sun: Chemical 11,600 28 15 Jan 130* • V Nov 40% Dec; 107% July 9 47% Jan 118^ Webster———No por Studftbaker Corp fThe)^.—j.——!• Stone 9,500 • 37% Feb 112 Inc——No par OH- of OhJd— Dec 21 —1 Indiana—1 Sep 44%* Nov ' - 7,800 : 106% > ;:.12&.:''Y 126 : 46 38% 39% 0 ■ J 39% *46 35% 35 Va :• 39 / 39% 108% 17 37 2 Jan - 4,700 34% 19% ^ . 123 32% " ,34 65 123 124 . 32V4 35% Jan Jan • 92% Jan ; 2 No* par .—No Dec Nov 32% • 10% Jan 1 —No par No par of Calif DecY 60 Vb 180 17 107 Jan preferred series A. 100 Standard Steel Spring.^.—^-—.—4 i/: 17% Jan 43 Jan Barrett Co'(The, L S1—No par 4l Va Jan / Sterling Drug Inc oommon™ 5 3 Va preferred 105% Jan ——100 ; 22 Va Jan Stent art-Warner Corp;—. 24 Va Jan Stokley-Van Camp* Inc 1 21 Jan .5% prior preferred-.-—.——20 400 24% 24% 108 *64%. 64% 32% 40'A 15 36% Apr 26% 26% Feb Dec Jan 3%% /V-'. J,'•>-—~ 32% 32% 1C9 Apr 155 Oct Dec 7% p 62 19 1 Standard Oil of New Jersey.—.23 2,800 , 110 31% 8% 39% *107 32 Vs v 20% 35 / 22% 8Vs 39»4 49% 22Vs 21 Vs 39% 49%. 21% 8% 39% 1 ' Dec 18% Aug 40 vs G 96 40% Aug 20% 16 / 3 91 100' —■—No pur preferred1-*—.-/ prior Standard 15,300 . 48% YY44A//; ; 22% 20% - 3 ' 100, 24% 21% 21% V-Vv 8% ZW-i'. 48% 23% 22% 21 Va 48% ;; - 34 21% • 4 % 3Q% J^n . Jan 29% July 13% Jan 13 83 50' ,$7 7,800 22 Vs 19% 64% ' 23 Vs 21% 21V, 46% 68% 108% 32 Vz 108 *106% 65 39 100 1 a ' : *64% 46 1,400 24 30% ; 300 , 41% 68 110 31% 39 Jan 59% r eo Y Feb 185 Jun 53% Feb Standard G- & E Co $4 12,800 . 129 23% 30% > 36 v 24% 57-/. Jan par ctfs; > 22% Jan No par No nreftetfredi*—— —No oar pref..No par $6 prior preferred1.——A/o pat* $4 .100 : 22% 44V4 *107 31% 127 14 35J/4 Jan Standard' Brands. 2,300 * 41% 24%' 31 . ' •107% , 49 32 32 . 118 32% 23% no " 9,000 15,100 . 49 31V, 129 x33% Feb Squibb (E R) & Sons New. X $4' preferred..——JVo> Par / 1,200 " 47 Va- al29 23%,; X4 3V2 , 110 : 37% 40% 22% 21% 129 "^outtrtf D Ohw 1,800: " // 121% 121%-/ 22%: , 44% ♦107 33 *123 ;• 113% 47 109 *107% 23 /? 68- ■ *113 68%/: 67. . 48 48 -44- 24% */ 108% 23' Y"" 21 Vs. , 9 5 0 pat Btandhrd Oil'of 22% / 8% Feb 2 luc—— 1 $4.50'- preferred!. 40% 22% 123 Conv 40% 21% 8% Spiegel 40V» . 22% 123 3 Jan 8i3ll56r Mfg 340 Standard Oil 22%;;:. 22 Vs V45'//; 19Va 1,400 Y > 17,600 Y; 40% 40 y8 110 *107 9 6% Jan Dec Dec Jun 48 v2 15 - 65 Vs 22% 22% 11 rThei Sperry Corp 10,200 45%: -46% 211/4 :! Jan 39% Jan $ 17% Jan / Dec Jan Aug 15 30' 14 36 — Jan 11 3 Spencer Kellogg & Sons. 463/s 21® 19% — i,4oo 8,900 37%; 131 22% 65 91 - ll & Bros Inc x45% , 33- 108 24 - 3 Jan Spear'& Got: $5.5J preferred 400 • 37% ' *113 Vi 121 130 130 *129 . 121 21% : .:•;/ / ;•.// 98% 42 3's 41 ; 40% 22% 19% (A Gi 67 115 Vs' 32 65 5 Jan Jari vViWuiigtun——, 24% 46% x46% *113 24Va *106 Va 8 64 stlt' tr Ohio epaVKh 98% 37% 120 21% 32% Mobile i Spalding 23 a 114 V* 24% 6 • 44 36% • 37 Vz 47 y4. 23V4 *107. 90 Z/:/76.Y.Y.: 83; •' .;V. ♦112% 39 109% 'V, 24 Vs' ,Y 114V4 38% • 49 . 43% 67 Vz *107% *48 110' *108 36Vs 67% 23 % 44% 44% ' 10 175 preferred non-cirtn . 8,000 100 * 75 68%: 491/4 *48 / 44% 6ft 2,200 > 19 *95 38% *113 22% 22% *18 36 Vz 46% 68 23% 23 ' 44% 99 121 *107% 107Va 107% 18 100 V/. X43% 37% 41 1 18 Y Y, .',*95 . •44% 113 40 Va . : 13% 22%. 46% • 23% 74 130'A ;• 61% Jan 7 ; V- 27'/b Feb " 40% /£ 41V4 Jan Nov 21 Vs j Dec 44 % Aug 22 46% Feb 14% 35% Feb Gas Co—7.501 ' Natural Southern 2,800 96 98% ' 46% Y ' 88' 13 ■-*66%-' 67% 1301/4 132% o 4614 *86% 23 21% 41 *119 120' 120 ;;:.30% pat 100 Southern1 Pfeclflc Co Southern: Railway 93% 98% 116 38% 2,400 3,500 23,000 12% 22% 47% i fU3 *93 75 39 47% Y" 98% 114 •V 47% 86 V4 21% 1 67% 114 *39 39 Va 4il3VV114% X36% 73% ■ 98 V, 67% 67 Va 67 7 11 Edison—.i_25 southern' California 10,900 23 18 . ; 23% ■ 98'A "r> 45 % Feb / 20% Jan T / «,», 64 Vz 95 36 76 / 23 8 13 xl6% Feb Greyhound, Lines—5- preierred $ per share Jan Jan ■;i' 80 15 fono Rico Sugar—;JVo t v V'32% 22% Jan par —Hp & Platinum 56% 12 Vz 100 • 76 U / :*>oJiw v YY.: Am. Gold 1 19% Jan ; Typewriter.No par 63% /V 22% 18 '.37V2 ; NO 50% Feb - Highest $ per share 54 15 — . Lowest 18% Feb 20 Vacuum OH CO-Lnq— soul heaatern 1,200 . 26 Va 26 55 12% 44% 44% 44% South ///•/ 23 *95 ; ' 44%- V; 38% 4 ' 100 *95 Corona 22,700 37% 93%'.' Vz 12 '.x; 18% *18 18% 100 at $ per share 44 Va Jan par- Iron- Corp-—,— 55% 63% x54%- - aiii.ui 3,500 86 ■ U) Socuny 58 37% >" 26 !/ 62% ..'x <fe preferred— (A 84,800 183% ' 93'% 93 Va *23Va 18% 37% 25% « 54% ' Steel Smith 400 , , VY-/57: $ *180 84% 87% *93 Va *95' 33 Va 21% 85 ' ?• 62%' ■ 53 %•'■ $1.20 ■ 1,000 i / : 7'/s ; Y 8Vs ' f//34Y.::/ 34: ■183 37% 2G 25 61 % 16%/ 'v.- • 56 Vz 56 *180 37 36% 37%' 37 7% x33% 34 37% 16% . 82% $ per share Fear 1945 Highest ' 7Va 183% 730 24' Oil 'Y Lowest -No par '.-J. Sloss-Shefflelcl Range Since January 1 Par-. .—No Co 6kfcii.v 5,700 ..Y: 37 // 16% V/--56 !?»';•} 67; "Ml 263/4 23% 36% Oil Corp— 1,400 57% 82* Y// 81. xi6%; 7%' *180 / 24 <. , /*35'vY. ;. 56 - •?.' v —No par Slnlonds Saw & Steol—— Sinclair Range for Previous ' - Simmons Co„_ ///•: v 100 /:;/ 57.200 19% tHr .. STOCK ;// :.//•/ .:-*/;>.///./■ 5,500 25% '• YORK EXCHANGE Shares .. 45% . . STOCKS- •; NEW Sales for 49% ' RECORD 1 { the Week share 49 25% 81 ' ; : 56 23% /; 17 Va *33% 34%57 Va *180 80 16% 7% 8% 56 VY ?■/ 35 Vz *35 ■";; • ■■ 23 Vs 80 83 V2 37 7% 56 26 vi .... Y *43% '/Y- '•19 19 25 Vs 56% .. per Y 44% 18% ,. Feb. 15 $ VY, \4834 19%- 25 .. ///; .*44 • 44 • /'. 47 48 18Va 19% . $ per share $ per share . Friday Feb. I t Feb. y *44 V ,..i it.'.; PRICES SALE H Monday, February 18, 1946 23 107 % Jan 14 Feb 24% Dec 39% Nov 38 Va /YVY29:/::: Apr 28 Dec 62 ' May 11 16% Jan 2 Jan Dec 40 / 31% Mar 36% Jan 28 Y 41 108 , 16 12% Jan . 41'/a Feb • Dec 43% Nov ' 14% 15% 151/4 153A 15% ' 15% • 15% 16 Symington 11,100 Gould Corp . *13% 7% Jan. STOCKS PRICES SALE HIGH LOW AND 15' 14% Dec Range for Previous ■ Monday Tuesday Feb; 12 Feb: 13 $ per share $ per share $ per share Feb. y share' Sper 12% 12%= 19 Vz V 19% 19% *109% :/: 14%. 14% YY 16 15% *12% no 57 Y'f; 57% /• 10.% 11% Thursday Wednesday Feb: 11 Saturday *13% 56% 11 10%. ■ 56 "Y-My 10% , Taicott Inc (James).— Tel&utograph Corpv—. 4,700 '■ 11% Jan Tennessee Corp / —5 — $ per share 25 11% Jan —9 1,200 19% $ pet share 3 Jan ./ 4 i7 'fcowesf ' 16 Feb 9 13 y: Jan r 15 19% Feb 6 . Highest $ per share 7% 14 Jan Jan : Dec 13% Jan 7Va 11% $ per share Dec 19% Dec ' -Y; Y' 56%./;f ; 10% Par 2,000 12% 19% 56 10% ;i4*Y/;;/t. 14 12 • ' • . 10% .; 57 ; 191/4 110 *109% 110 YY 12%' 19% , 14 12 0: Z 19% *109% 110 Y; 57 Vs *109% 12 'Y'18% XH V'4 14-/.;..'' 14% ;:/12*-Y;- 12%, • Year 1945 Range Since January 1 Lowest V Highest Shares $ per share ; eTOCK ludiv EXCHANGE the Week •■•/Feb^ 15 $ per share NEW" Sales for Friday Feb. 14 110 56% ' : 110' : /58-vi;/V| 10% Tennessee Gas & Trans 5ft 140 Texas Co 11,900 4,800* ./ 4,900 5,600 (The)— Gulf Texas Texas IT pfd..100 1 Feb 13 3 56 .1 - Feb 9% Jan —25 — Producing 108% ; 111 % Jan 12 62 Jan 17 % 11% Feb 105% July Yr 48% Jan 6 62 Dec 10% Jan 6% Oct 110 Dec ' 50% Y 50% 2434 25% 19 Vs 18% 19% 46% 46% 30Va 32 60 61 18 18% 19% 18% 48% 48% 47% 48 31% 32% 32% 61 61 % 31%. 61%; 62 18 Vs 18% Y 19 ' . 18 Vs *17 % *104 : 16% Y1-.: 16% 70 *66% 13 % 105 63%., 13% 13% 18% 19 59 60 48 48 V* 48 % 32% 33 34 61; 61% 61% 360 18 18 700 *104 105 10 ■ ; 17% 16 16% .. ' ■ Y 105 •104 *18% 19 ' 20 , ' ' 17 V* 63% - 26 VB 19% ♦60% 16 13V4 13 %f 19% 105 25% 19 Vs ,V"32 16% • 67VZ- 13% *18% — 52% 26V4 48 ; 51%; 25%; 19%; Y 67%'- 16% Y • "■ ■. V 105 *104 105 - %/ / ,i 52% X50' 51% 25% 51% 26 51% /',Y 25- : 51 25% , 16 Vs 13% 13% :;/Y/T3'Yya *18 1/4 18 Vb' '57% 58 17% 67 14% 18% 59% 59% 59 57 Vz' 58 59% 112% *109% 112% 109% 109% 109 109; Y . , 1 tOO 46% Feb 13 par 27 -No Mfg Co— 51% Jan 7 34 Feb Jan 7 64 Vz Jan 18% Feb Jan 30 1 13% Jan Thermoid $2'/a Co div common Transit Corp -No Third' Avenue Thompson' M R) Thompson Products Aft preferred 100 Jan 105 5 17% Feb 68 Va Feb 7 15% Jan 8 19 Jan 13 68% Jan 28 Feb 14 109 — 112 Jan Dec 15 Vs Mar Dec 19% Nov 66% Oct 106% Dec 64% ' . ../ 45" •' July ' 29 Oct 15% Jan 13 Dec 104 53% July 10 Vs Aug 28 Dec 18% Apr X93% July 9% Mar 4 Jan 17 comJ— No par 8% Dec 61% 44% Mar.;. 6 57% Feb YY Nov 31% 6 8 - 12% Feb • par -25 ^ — 60 -50 preferred— conv 55 Vz 10 103 V* Jan — Jan ' 19 preferred Jun 30% 11 16% Jan 6ft 20% 28 -No par .100 /— .59% Jan Y 14% Mar 15 preferred-,—^ -No par 51% Nov 31% Nov 13% 17 Jan The Fair,—-: 1,800 / >110%; 110%- 48 conv Y 90 ' •109% 16 21% Feb ■: 36% Jan'/ 18 % Aug 4 29 Vs Jan 3 $3.60 100 *• : 53% Feb 13 16% Jan par ' 4,700 : 3 •Y"". 24% Feb 1 Thatcher 6,800 *18% ' Jan -10 Sulphur Pacific Texas & Pacific Ry Co: 900 3,900 67 16% 67' *64% ><-// // Coal & Oil Texas Pacific Land Trust Texas Gulf 8,800 112% Nov ' 12 12% 60 % 62 20% 20% *110 •Y 113' 63 Vz 64 YY. *31%: - I 19% 49 51%/ 49% 61% 63% , 105% 18 Vs 18% 175 *145 58% 59 24% 61%; 31% 31% 10% 11% 11% 18% *104% ■v./ 17 Vs i *145 /. 19% 58% 63 * 113 62 ' : ■ 19 ; 32% IT v; *111%; Y.v *47 48 ; ' ♦111 Y ;; $3.75 i preferred Timken1 Roller Bearing"— Detroit 64% 2;600 19% 19% 8,409 Transamertca Corpl 63 65 5,700 Transcdnt'l 31% 32% 11% 112 32% 50% 48% 49% 49 vs 51% 62% 61% 61% 63% 63% 51% 64' V *104% 105% *104% 105 % 17% 1*17% *104% ' "10 Truax-Traer 1.400 53 30.300 66 4,500 20th' Cen preferred $4.50 prior — — pta— -No 175 17% *145 ; 58 Vs 58 58% 58 58 23 Vz 24% 23 23% 23% 23% 17% 75 75% 25% 76% 25% • . 108 Y 115% 114% 114 - •vK'v: ./ 114% 114% 75 Y 25% 106% 114 •.:> -' i'\ Y.v v *114 *114 •'. j }■ f. 'Y Y *113 . *114 ' •' , *.105 %' *105% l ... V; w • 25% 25 158 ; 25% 157% 116 40 40 35% 35 25 v8 ;>; • 158 Vz 116 41 158 35% • - ;' 154 .'Ij. ^ ■ " *115 Vs' 115% *40 Y 114 • '.' — 76 • '-25 Y./75v./ • ." *39 —' . 106% 58% 58% 24 25 114 450 Twin 4,200 . 108 ■114% *105% 25 75.'y' 26 106% ■ *113% 75%- •6.400 Coach Co— ... 66 V* Jan 9 71 9 28 5 Jan 33 Vz Feb Dec jan 61% .tun Jan Jan 25 4% 3 12% Jan 29 2 112% Jan 4 7 20% Feb ' 3 / 54% Feb 6 67% Feb 4 106% Jan 10 "18% Jan 30 Jan : Jian • Union Bag. & 114%Y 25% 25% 6,400 ri54% 156 V4 2,700 , 155 Vz 115 :; 115%- 115%' .'•V x40V8 40 Vs 40%- 35% 35% 35% 113% 113% 46% 47 Va Preferrd $3.70 sei1es__^*—No par 25> Unidn Oil of California Union Pacific RR CO ■ 500 40%- Carbi——Nb par Uhlon EI Co of Mo $5 pfd.—Nb par .' Preferred $4.50 series— ,No par 10 ';> 80 114 ———J. No par Paper———No par Unloit Carbide & 9,000 ' 4 50 Jan 3 21% Jan 3 4% non-cum 100 preferredi—.—100 Union Tank Car..—. 600 No par 172 60 3 26% Dec 33 Dec 10% Dec 112% Dec : Mar 'Prt'Y Y ;? 45% Deo 34 Vs Mar 50 Dec 102 May 106% Jan / Y 9% Jan 4/'10fv Dfec 112% Sep ■-/ 42:.-.. Oct - Dec 52% :■/ 14% •JanY/ Y Dec 25% Dec v: Y 1 ,t«n 11 Jan 3 26% Feb 15 997/s Jan 2 109 7/s Jan 15 11: 115% Feb 5 71% Jan 22 23 146 Y III YY. ; 5 29 Dec 26% Mar P. ?;/./ 111 Feb Jan Dec 79 Jan 10% ! \% >23'":'• t Jan 1 103 Oct '68 , Nov Dec 52 ,,18% Jan// ;// 5". • • • Y Mar Dec 107% - Apr 10 28 49% Jan ;.3.:Y 105% Jan 16 Sep Jan 26 6 ■ 101 50 • 7*. Jan 9Vs Jan Jan 9% ! 16% 34 Va 15 21'/* Jan 7 14Vs Jan Jan 147 /: Underwood Corp *105% VB' -'25% 153% 7 13 X.'si-' 1,700 26%109% 114% • *113% 40% 75% 25% •114 "» 157 > 25 , City Rapid Transit— -No par .100 preferred 50 5ft conv prior pfd ' *113% -114% 114% 25% Y 106. 114% *105% , ' 25% 24% 104% Jan Feb V 39% /. ■i 29 10 Vs Jan 2nd ;///•- 108% 11 50% Jan .111% Jan par U 75% '■ Twin 1:100 175 .-v.; t'./• 25 V* 111% Feb • Y: ' 17% *145 . 108 V* 3 w. 31 10 62 ...No Par — 3 Jan >;/ 29 19 pat par Jan 29 Jan 68 * 57% Feb Y par 2 Filrri'Corp— -No pat Fox $1.50' 105%/ .No Corp—— 12 13 46% 3 -No Jan Feb 108' ; 13% Jan 22% Jan 2 56 20 .—t Tri-Contmental Corp1——. -No par Sfr preferred — 27,400 19% -iVO West Air. Inc. Transue- & Williamk ,400 . 12' 112' 8% Jan par par -10 par -10 Axle*———. 19 % it '/ 1T% *111%; 113 175 "390 , 62%. : *19% *145 113 Tlmken 1'9% /. 17 V, 1 Tirfb* Water' Associated' Oilx— 1,100 19 18 Vs Thompson^fftarrctt CO——No $3150' cum preferrpdi-—* -N( "900 48' 18% 175 8,200 . // 9^00 47% 18% 105 VB 13%. 20% 63% : 19 Vi : - 63 20 Va 47% Y 58 Va 24% *02 Y63%Y 19 vb 61%. 31% / 111%. 113 12% , 111 . x63" •63% ; 60% 20% 110% 111 46% 19% 60 ' 60% 20 vs . : - 19 Vz- 13% 12% 12% Til/ 47 Vz 19 V\ *104% 20% 59 11% 11% 59 20 47%" . 33' *31% 12% 59 20% .111%; ll-l . . 19% 58% *111% * : 64 19% 58% 13% 62%. 59% :/: 48 *63% : 12 ■ \/ 20%* 112 48 ' • : : 114% Feb 113 Feb 5 25 Jan "22 140% Jan • ., 77 115 Vz Jan 27Vs Jan 14% Jan' 267/s X110V4 Apr. 111% July T7Y 20% : 109% / 100% DeD 1177/s . Oct 102 VZ Jan 78 Vz '15 168%-Feb '7 2 /;/77-:'v Ot 58% Jan . Jan- U6 Jan 27% Jan 151 Feb 11 Jan 112% 39% Jan 16 42'A-Jan 9 29 Aug / ,45% 33% Jan 3 28 25 Aug' 116 112% Jan 24 : Jan; Dec Nov Deo Nov' ' 35% *116 118 117 46 45 45% 154 *150 *109% 39% 113 39 153 ■ ' *109% -■ 116 *113 V4 144% ***» #— '* 39 34% 43% 46% 150 35 *112 117 " 39% 34 .. mm J* 39 Y *109% 113 " 80% 80% 35 *33 79 *33 35 '■ " 12 V* 12% 25 Vz 25 3s 253s For footnotes 146 152 39% 113 x38% ' *107% 77 *78% *33 35 *33 11% 12% 25 Vz 45 % -77 80% 12 Vs 45 Vs : 12% 28 26 " 12 % *25% 115 46% 153 38% 113 154 39 156 39% *108 United Aircraft Corp— 5% conv preferred 11,900 V 200 United 22.700 2,500 4V2% 900 United 5ft 113 80 80 82 35 33% 33%' 12% 12% 13 Va 26 26 26 0 900 page - .....100 No Co. Carbon Prior r Jan 3 37% Jan 119 Jan 43 % Feb 13 /: 54% Jan 9 144% Feb 13 Jan 9 41% Jan 15 113 34% Jan 110% Jan 179 3 23 Feb 13 No par Co Cigar-Whelan par 100' preferred. 33% Jan 11 Vs Jan 2 Jan 12 115 / 86 19 30c No United-CarF Fast Corp.: 919. conv United 400 <- Inc.. preierred Biscuit United 100 21,600 1 see Air Lines ? 100 -10v Stores preferred par 20 ■:;. 77 24 Jan Feb 18 2 1 14 Jan 29 26 Jan 31 104 Sep 31 Vs 38% 120 Dec Dec Dec' Jan 62% Jan 200 Va Deo 22 Vz Mar i40 Dec 109% May 114 Jan 118 / 5 35 Vz Feb V 1 V ■ >. 66 - 26 Vz 22 : Feb July " 82 Dec" 36 Jan 7% July Dec 13 Dec 25% Nov 1 ^Volume 163 THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 NEW YORK STOCK LOW Saturday AND. HIGH Monday Tuesday Feb, 11 SALE Feb. 12 Feb. 9 PRICES Wednesday Thursday Feb. 13 STOCKS Sales for Friday Feb. 14 NEW the Week li; Feb..15 6% 51 $ per share share 6 VB 6Va '• ■ *53 83 *79 82 Va 27 27 Va 116 52Va 111 Va 27'/a 50% 53 109 Va 12 Va *106% 26 Va 107 26 Va V' 116 30% ; 1: 28Va 1 57% 40% 17%' 18 Va 17% 18 Va 12 Va 55% 68 45. 55% *186 77% • 6% 68 185 Va 185 79 78 Va 88% 88 89 93% 95% *160% 162 28% 28% 162 *51 92 Va 51 9% 17% 16% 12% 12% 63 1/ 37 45% *18474 187 80 80 91% 93 28 Va ,1 16% 12 26 L; 63V2 *59 *103% . 102% 104 43 Va 26% 12% 64 36% 37% 22% 36% 22% 22 Va 51 51 51 24% 24%: 24% - 37% Nov Jan 108 3 7 29% Feb Feb 2 16% Apr 8 119 Feb 4 77 Jan 115 204 Feb 6 77 Jan 115% Dec 33 Jan 11 13% Jan 34% Nov 70 50 Jan 70 Va Dec 38% Jan 55% 6% Mar 12% Dec 39 Dec 16% Dec 13 Feb 15 Jan 14 Jan 3 59% Feb 2 3 13%, Jan 29 7 44 2 2 Jan 8 Feb 6 89 Feb . 84 4: 84 112 112 *112 1 115 84 83 Va *111 115 10% - 93% 121:1 121 *78 1 490 4 51444 •1511; *44 J 145117 *78 *172 190 *172 200 7 190 19 Va .108% 108% 101% 105% *20% I 207A 15% 16Va *108% • 99 144'/a, Jan 52 72 11 i No 6 58% 135% Jan 127% Jan 8 23 Va Aug 46 Inc Sep 13 Va 106% 35% 36% 36% :1 .: 47 1 *44 16 13% 106% 106% *20 Va 16 Va 36% 20 31% 32 Va 32'/a 33 V2. 34% *32 32 Va 19% 105 21 >*21 16% 1674 13% Dec >•/.': .4,-;- Jan 14% Jan 8% Dec 20% Jan 23 4% Jan Dec 117% Jan 1116% 22% Jan 8 Va Jan 1121% 1.25 Dec 49 128 Jan 24 27% Feb 98 Va Jan 8 70 Va Feb 110 Va Jan 10 195 Jan 25 49% Jan 5% 15 11 10 Jan 3 43% Feb 13 30 Jan 3 19 Jan, 46% Jan 3 23% Feb 2 55 39 Feb 39 14 21% , 45% 21 45 32 32 % 3174 31% 32 32% 32 % 32% 33 .34% 42 V4 42 V* 42% 43 42% 14 % f r 14% 14% 14 Va 14% 14% 14% 39% 39% 38 Va 39 Va 138% 39 39 39% 39% 40% 87% 41% 87% 87% 87% *87% 89 Va 39% 40'A 39% 407a *114% 115 118% 119% 113 113 114 Va 114% 118 Vb 118'4 *118 Va 112 *111%-112% *118% 119% 42 ■ 40 % >. .41 % 41% 115 114 Va 115 *118% 119% 119 Va 120 Va *113 117 113% 113% 118 1 118 41 41% *118JA 114 60 Va 11% 11% 61 6IV4 11% 27% .52'A 61 11% 29 Va 29% 51 ; 27% 51 51% 119% 10% 27% uv* 27-% 51% Jan 2 118 Sep 124 82 Jan 2 57 51 Feb1 8 39% Jan 4 45% Jan (Hiram) G & W Petroleum Jan 18 120 Mar 172 Feb 2 165 175 Jan Dec 15 145 Mar 173 Dec Sep 1178 75 Jan 3 18 Jan 22 20% Feb 6 13% Jan 20 39 Jan 2 42% Feb 4 30% 42 108% Jan 4 109% Feb 1 117% Jan 14 99 par 5 Corp 21 3 13. Feb 13 103% Jan 1314 Jan 3 -/1 par VI No 3 Jan 1 r 5 7 8411 Feb / 11 - 13 V —100 Pictures Feb 20 -1 Jan No par 45 Tobacco Indies . 15 V8 Jan 107 Feb 7 33% Jan 1 36 112 Jan 7% 516 % preferred. preferred..^ .........100 — 52 *161 *28 2,400 2,000 ♦28 52% }■ 115 300 122% Feb *95 96% 51% 52% *51 44 Va 44% 43% 46 47 47 37% 107 % 54% 104 43 Va 36% Jan 7 Feb 2 7 115 Jan 30 Jan 31 35 Jan 9 57 Jan 62 Jan 15 V- 104'/a 103 54 Va 53% 54% 104 104 *30 30% 30% 30 % 30% 30 30 41 Va 41% 40% 40% 39% 40% 40'A 17 16% 17 17 Va 17 17 Va 92 *90 '34 10% I'lL'l; . *90 23% 23% 19 Va 18% *99% *141 100 21% *21 13 Ve Jan 56% : 90 35 35 *33%; 11% 10% 11 22 22% •11 18% 18'A 99 Va 20 Va 21% *141Va — 39%; • 1 '18% 99% 21% 18%; 187'a — 9974 21 : r 40 ■55- 54% : 56»A 66 -54 56% - 1 *91 Wilcox 15,300 39%Vj» 40 4% Jan 14 Vb Jun 13% Feb 37% Jun Jan 14 57 Vb July 92 Jun 55% .56%; 55%^56 V4 I 56 Va " 58 ilvl 7 3,100 : . *91 94% 97 99 " 95% •* 93 Va . 93 % ,100 *97 Woolworth Prior Prior pfd 4% % 80 81% 31% 32% 82 1; 82 81% 31 r;; 32% 32% 82 • •' : ■v.. • ; 46% 47% 47 - 47% 47 47% 1 47% 25 VB 23% ,24 V* 24% 25 Vb 25 %: 31% 32% 32 32 % 32 % 33 68% 70%. 68 Vb 68% 69% 70 % 70% 28% 29 28 28% 28% 28% 2874/ 1 26 % 32% , ; , 72 29 M 7,300 2,400 ,1/1 8,800 / 1- 3,300 ; 38% 38% 38% 39% 38% 39 VB 39 39 13% 13 Va 13% 12% 13 VB 1274 13 Va ♦Bid and asked prices: no sales on this day. tin receivership « %1 : •>"•39%" 40% V'l • 13 Va Wiwr* 13% "i "w , V 42 28 pfd 4%% ; Jan 11 Jan 16 58% Feb 6 Jr 87% 132 Jan 30 21% Jan 3 44 Jan 28 26 Va Dec 78 19 Va Jan Feb ' 107 Va Jan 477'a Dec 103 7 Oct 31% Dec 47% Dec 30 8% Jan 18 Dec 14 95 Jaa 24 83% Jan 119411 Jun 35 Jan 17 100% Jan 7 21% Feb . 7 3 7130 29 1 Jan 1.35 6% Mar 16 5 Oct Dec Jun 19% 10% Jan 19% Feb • 12 26% 16% Mar Nov 30 - 13% 1128 7 Jail Jan ' 22 Dec 138% Dec 10 36% Jan 3 40% Jan"l4; 10 150% Jan 3 59 Jan Feb 14 65 Jan ;-„Jan 70 91% Jan ; 93 Feb 7 94% Feb 5 79 e'Jan 100 Nov 9 98 Jan 24 80 ( Jan 100% Nov 18 106 Feb 4 75 1. Jan 110 par , 100 par No , 1 54 4 I 911 S par Jan 7122%. Jan 40% 29 38 9 Jan 137 Nov 53% Dec Nov 7 Nov v . , . 79% Jan 7 82 Jan 25 69 Va Mar 84 1. Oct 20% Jan ; pfl* ; Door Zonlte Products Corp Dec Jan pfd—100 ;1 IDel) Zenith Radio Corp— Dec 43 Jan 7 ' 377b May 50% May 1105% Jan 7 Oct Dec 45% Jan 28% Jan / .16% Jan ; 99% Jan 19% Jan series 7,100 * 14 15 V8 Jan Conv series—100 .,7,100 64 104% Feb '•» 88 .10 > 101% Aug 31% Jan 21 No par Yale ft Towns Mfg. Co ' 2B York Corp 1 1; Young Spring ft Wire No par Youngstown Sheet ft Tube__No par Steel Oct 3 12% Jan 29 No Youngstown 72 106 19 100 Jan 26% Jan No 'Wml Jan Oct 35 38% 30% July 27%-Feb 37% Jan par 56 Jan 31Vb Aug 37% May ■I 107% Jan 31 3 i____No *7 13% 11 2 Wyandotte Worsted Co 3,300 k. '1 29 17 WrlBlev 800 4,500 47% 24% 32%- 1 r 33% Jan 48% Feb 21% Jan Wright Aeronautical ' f 81% 30 45 x33% Jan Worthington P & M (Del) ...No 400 77 39% Jan Jan •/10% Jan (F W) Co 200 • Jan Jan 1 Motors Wisconsin EH Pow Co 6% Woodward Iron Co :i 1,200 'i. 7,600 4 3 Co $4.25 preferred Wilson-Jones Co. 64% Jan 43% Aug 98% Jan par 20 preferred Oil Wilson & Co Inc 400 1,000 V No Dec 30 Va 26% 170% Jan 25 1 preferred Willys-Overland 13,100 ; conv Prior 300 7} 2,400 . *141%.:.._111>7' 94 . ; 21%'. 21% 40 .94 104 $4 i 61 27 Vb July 45 Dec 3% Dec 4 14 105% Jan Oct Dec 115 Jan 42 —1 40 Jan '3Deo 32% 16 118% 22% Mar 106 43 No par 207 White Sewing Mach Corp J 3,000 ' ; *99% 100%; 1 4:2144. *141 Va >/" 39% 93 100 • ' 93 •102 23% White Dental Mfg (The S S) White Motor Co 4,400 - 35 11 f; HVi 23%23% 18% 19% 11% 22% " 57% 93 ; - *87%) 90 *33% 23% r 1200 * - 17% - *87% 56% 93 r 18% 17 Vt *88 Va 1 92 *99% 100 21% *29% 7 30% 40% " 42- Dec 29 37% Feb prior pref-. Dec 118% 113% Nov 17 54% Feb 103% Jan conv 112 Sep 40% Jan No par 100 100 No par $5 Jan 32% Jan No Par Wheeling Steel Corp 830 ' *33 Va 38 56 Va -- UVa 20 V Jan $3.75 preferred Wheeling St Lake Erie Ry 5 % % conv preferred Nov Nov Jan 35 12 % 89 Va 37 Dec Jan 31% Jan 15 .12.50 Instrument Apr 35% Jan 13 No oar ...12 Va. Elec Nov Feb 56 87% Jan 50 38% 96% Feb Jan Westvaco Chlorine Prod 2,600 7 A—.——*.100 Preferred Weston ' 56 Va series Westinghouse Electric Corp 700 75 33% 22% *141% Va 38 t » 16% • t. Preferred Westinghouse Air Brake 3,200 / .107% 55 % 92- 33% 34 ; L 104Va. 104% 40% 16% ; • 104% *30% • *70% • 53 Va 4,200 29,200 II; 550 44 '48% *106 107% *106 107% *106 55% ; - Dec Jan :■ 32% Jan 127% Feb Western Union Teleg class A .No par 1 Class B— —No par . 38%;.38% *106%, 107% 38% 3874 L 47' *106% -107% 75. *70% ♦106% 107%' 70% 70% 75 43 47%' .47% , 37%:; 38% *44 , 12,800 « . 1,100 . 37% v 38 36% I 37%; • 44% 43% 47 Va 96Va 51 Va 52% *31 > 33 • 38 % 37%' 96% : 32 JA 46 v 107% . 103% ' *30 >A X37% 44% ' 103% 32 Va 37 Va 38 Va •70% 58 51% 36% 38% *106 107% 56 96% 51% 37% *106% .107 Va 75 *70% ♦106 96% 51% 48 Va - - 38 Va 37% *106 V8 96% 50% *30 Va 38 Va 37% 38% ■ 32 37% 38% 37% V 52% *30 53 38% 96% 96 50% 16% •113% ' I *94% Dec 47% 109% 1 10% Jan 33% Jan May 101 11 47 Dec 100% 6 113% Feb Western Pacific RR Co com__No par Nov 32 23% Mar 5 118% Feb 2 Dec 21% ' 84 Va 10 29 Supply Co.. 10 /Western Maryland Ry.——.^.100 4% noD-cum 2nd preferred—100 Dec 50 24 11 10 441 Dec 35% Mar 30% 1, Jan 105% 9 23 Auto 1,800 .53% 20 • 31 . Oct Mar 14% Aug 24'A Jan Jan , 110,00a: " 30 53% Western 160 13 112% Jan West Va Pulp & Pap Co No par 6% preferred 100 Western Air Lines, 'Inc..i.—.• 1,800 7 ' 61% 11% 112 • 29 tit ; , 1 61 11% 52 4 — 30/31 61% llVa •«: *114 30 Dec 29% Apr 7 43 Va Feb 115% Jan 110 16% 91% 117% Jan ..100 pfd..—100 Dec 7 87% Feb ; Jan West Penn Electric class A—No par Feb 14% 7 41 Va Feb Jan 140 20% 6 16»/b Jan Dec Sep Jan 16 -34% Feb 15 47% Jan 31 11 110 Sep 8% Oct 1 Jan Dec Dec Jan 8% 8 50 Nov . 110% 61% Mar 5 87 'Aug 4 19 14. 33% Feb 130 West Penn Power 4Va% V 105 Feb 22% Feb . Jan 36% Feb Jan 14 ' 64 6 30 a Sugar Corp Feb 18% Jan , ...1 Inc 9 117% Feb 15 Jan Wesson Oil & Snowdrift_-__No par I 14 conv preferred~_-.-^^JVo par 60 Nov 165 No par Bros 120 43% Jan 18 2,400 f 1 Nov Jan 42 1; Dec 55 36 Va 30 83 par No preferred Fdy & Pipe_ West Nov Jan 45% Jan 165 100 Warren 7.600 Dec 122 Webster 42 81 5 Wayne Pump Co....^^. 119Va 41% |42 1 114% 29% 61% 60 40 Jan par preferred Warner 200 Dec 59 Vb 25 3,800 7 Dec 8% 21 29 ® Jan 89 % Dec 45 % Jan Washington Gas Lt Copar Waukesha Motor Co 3,11 114%. 114% 41 ,1 141:11 I 1 29 Va 29% *87% 99Vt Jan 28 Jan ' 114 114 29J/a 29% 89%, 111% >118% 118%. 40% >41% *117% 118% 40% 41% *114 115 " *867b : 47% Jan 2,300 1 103 Jan 3% Mar 15 80 1 14% 44 1151; Feb 120 1. 43 14% ,45 Jan 24% 29 1,800 45 / 14% Dec No Warren 1,000 Dec Nov 90Va 18 12% Jan 24% 71 104 86 No Baking Co mew 5%%, preferred • Dec 13 Vb Apr 48% May Va Mar 9 44'/4 Jan 23 200 28,500 32 Va 32 33 *32% ; , 34% 100 500 45 *21%; 21% 10 28 Feb 3 23 Ward 130 Jan Dec 12 4% %. preferred—..100 Dlv redeem "v. ,106% / 35% 36%:. L Dec Nov 16 .100 100 pfd 1,148% 23% Aug Dec 22% Jan .'•; Nov 52 50% Jan 5 Dec 200 Jan 6% Jan 77% Jan 1110 Mar 110 • 1 Jan 13 Jan ; Jan Mar 75% 32 139 100 Walworth Co "2,800 106 112 Dec 100 21,300 ; 190 2 par Detinning Co Walker 2 Dec 9 4 24% Jan Jan 104':Jan Jan 178 8 . 28 Jan 3 Pow 400 17% 13% 4% 22% Jan 17 "66 Jan 15 101% Feb 188 Jan 16 7 14% Feb 31 100 No Preferred 10 1,300 121% v 16%. 3574 *44 v C 109Va 107% 105 preferred Chemical Wabash RR 1,200 Nov 50% 28 3 Waldorf System Walgreen Co 1.100 41% *108 109% X21 21 Va 500 84 19% ' 3474 1 47 I / , 40% 19% 106 %: 106% 35% *44 *20% 190; < Vulcan - 132 14 14 9% Jan 100 Virginian Ry Co 6% preferred 45% 200 > 84 84 13 % ;> 106% 106% 20Va *172 207s 20% 16% 46'/a *44 20% 190 41% 104 13 Va 13 -1 •45 & Nov 29% Jan 2.50 dlv partic preferred El Dec 160 52% Jan ...J7o par $5 pref Va Iron Coal & Coke 5% "90" 50%' 51 f 160',- 19% Va , 200 *108 102 100 20% 15%- 84 6% 92% .122 Oct '85% H Jan 50 1 Co non-cum Dec 89 Jan 15 Oct Oct *77 Va Jan 97% Feb 163% Feb par Chemical Co 5% v Jan 3 ..100 Pictures Co Va-Carolina 1 176 1 Victor Chemical Works % 107/a •" 145 x41% 1: • Dec 73% ..1 Vlcks Shreve & Pac Ry_ *78 50% 44 Va 84 19 Va 41% 41% *108 Va 109 Va 103 *20 Va 13% "14- .'• 20% 41% 109Va Va 90 i;*172;,;. *82'*' 41 ' ,122 -122 *160 84 42 91 50% 20% 42 92 ; 42 10% *78 V1 44% *160 1 42 % 122 51 *44 200 115 1 42 Vick Dec 7% 21 Vertientes-Camaguey Sugar Co_6% 112 115 48% Jan 7% Jan Van 85'% 111 Va Nov Jan 154 Van Raalte Co Inc^..—........10 24 Va * 83Va. . 10%' 11*90:l 90 , 50% *160 84 10% 122 121% : 84 115 -I- 4211 94 *92 • 112% 111 % 10% 10% 2374 24 *112 41% 141% 42% 10% *99 1 X84 44 * 1; *111'-1' 112% 42% *19% 24 , Dec 67 -2'A Mar 51 Va 6 84% Feb 57 Jan Jun 27% 7 15' Jun 11% Jan j, par Inc preferred Norman 7% Feb Dec 3 Vanadium Corp of Am 33 10 Jan Dec .1 No Laboratories Universal 974 46 187 22 Jan 35 5 74% Jan 3 71% Jan 25 Preferred 3,800 11 15 Feb 50% Jan 1 5 3 79% Jan 774 Nov 28 30% Mar 8 12% Jan 70 13 Jan 29 58% Feb 7 '••• Jan i 18% Feb I 12 84 Dec 1374 11 Jan 173 Universal Leaf Tob-..._...No par > 10 Jan 6 Vb Mar " 24% *114 107% 5% Jan 23 , Oct 65 Va Jan 52 Va 221/2 *51 103 Vb 43% Feb par preferred Universal-Cyclops Steel Corp 180 . i 46 37% : Dec 21 10% Jan .No par preferred conv Universal 200 102 Va •45% 22% 51 600 10,900 I 70Va '. 1 .200 *191 45% .44% 1/1 14 % 101% 102% *190 11 ,2004m 45 26% 70Va • $6 Nov ' 4 52% Jan 100 No 112 Oct 26% 13% Jan - .....__._,...10Q non-cum Dec Jan 36% Jan 1 .50 Tobacco Co 52 11% 10% Jan ......50 Corp Mar 106 Vb Nov Feb 10 Smelting Ref & Min 23 Jan Oct 25 29 par 1st preferred 110 51 ....1 —No United Stores class A 100 22 Dec Jan 29 CO Va Jan Unitejl Stookyards Corp 13,600 t . "12% 26 12 Vb 64 195' 46% 1H 17% 121 2 68 20 f Co non-cum 7% 13% Dec 52 % 120 13% Jan 28% .10 preferred 50 IT 3,900 6 Jan 30% Jan 109% Jan No par Preferred U S Feb 10% May 4 199 5 cl A 17% 8974 Mar 3 ' 9 *116 1 l\ 2.300 51% ' 16% 120 1,200' 33% 29 Jun Jan 23 par „ U 8 Steel 34,800 .11 28% 8% 17 *115 ,26 *50 ■ 28 Jan Jun 106 conv Rubber U S 700 Jan 58% Feb 4 14% 88 Va 23 20 conv ;Jan 111% Jan 100 Plywood Corp........ S 15 56 Nov ' Jan 20% Feb ■ 95% 8% No preferred 8% 3,400 - 163% 28% 28% 51% 8% 16% 12 . . *50 1 9 ' 162 28% 51 94 162 93% 162 161 Va 23 115 U 600 88 Va 109 10 1U S Realty & Impt... 9,400 80% 88% U S 24.400 • 88% 37% ♦106 ' ' 7 Jan 66 118 48% Jan ; 3 100 Preferred 2,2,00 : • 7% 70% *182% 187 51 . 45% 1 com No par -No par U 8 Pipe & Foundry U S Playing Card 100 9V8 17 " Freight Co Partic & 28 Jan 728 U S Lines ; ' 700 •■/>'■ 1,900 58% 68 II 7%.. 1x69 • 70% 900 16,900 12 Va 57 Va *66 Va 7 Vb 68 Vb 40 '18% 18 Va 11% 57% 68 51 1 , 12 2274 ^ - 88 Va *190 194 45% 48 18% 44% 145 11 121 - 101% 103 45% 39% Dec 16'A Jan 3 preferred 50 U S Industrial Chemicals—..No par U S Leather Co : .....No par 2,200 29% 23 'A Jan Paperboard 5%% 2.300 : 79 15 Va 63 194. >, 88 Va *115 12% 63 200 59 % 12% 7Va .26 26% *101% 104' 58 12% 39% 79 111 8 Va 12% *195 10. 50% Jan 3 U 8 Hoffman Mach Corp 1,600 12% 56% 44% 51 26 26 68 V 57% *66 Vb 28% 51 26% 63 . 185 90 Va 16% 121 *116 30 68 Jan 157a 7 U 8 Gypsum Co 7% 38% 1 % Jan i,3oo . . 30 85 , 3 48 Nov 5 Jan 31% Feb 110% Jan U 8 • 12 08 Va 161 Va 9 16 Va 120 'I 120 29% 69% 5 $ per share Jan 54 7 16% Jan 5 No Foreign Secur $4.50 preferred ' 94 Va v 29% 18 Va . — 73 Va Jan 1% par 1,300 ; 117 % 117% '*204 1--L '• Cos U 8 & •'7 3 29 Highest - $ per share 7% Jan Improvement Co.-.13% Gas United , '' ' —' Coal Co United Merch & Mfrs Inc 5% preferred 800 » 27 76%-, ,28% 8% . . ?• so 107 88 Va , 162 28% 51% 9% 56% 69 Va 77 *88% Electric Fruit il 19.400 >; 590 12 "/a I 29 27 % 26% 12%; x38% 68 43 Va 7% - 185 Va 187 56% 66 Va 46 7Vs.' •67 69% L 69% 44% ^6 7% 7% *67 57 *66 ■ 57% 12% ' 107 115% 29% 39 Va 55% , 100 Lowest $ per share 25% Jan 7 7 12 Vb Jan 2 „_..i Year 1945 Highest 3 47% Jan 5 Engineering & Fdy United 5,900 109 Va 12 Va '■ 27 4467:44 . - 12 % 39 68 106% 26% 59 13 *12 27% 106 Va 29 !'s 39% 109 Va 12 Vb 114 12% 12 Va 110 26 % *204 39%- 11% Dye wood Corp.... United 11,600 ' __ 17% :;-17% Li 27 Va 55 4V8Jan par .... United 4.200 . • 1174 - 1;1 1 69% *67 59 Va 58 Va 1 $ per share No par Preferred -w 3,500 26% No United 20% 114 54 Va I .53%, 110 L V 12 % 12% 20% paf Corporation United 1,900 i^ 82% 113% 26% 53 115 114 30 V 69% *67 69% 1 58% >58% 26 *204, *29% *67 107 25 Va *204 Lowest S3 preferred United Drug Co 7,800 *52% I 53 Va 53 % 112% 26% : 27% 106% 267/a *115% " *109% 110•I'M:'12-Vv.1^ 12 Va 28 —1l *40 20% *52 « . 26 Va *79 112 • 112 53% 27% Range Since January 1 - ,, United 30.600 .. 14%*' 14%' ; 14% 82% ?V 20 109% 117 30% 14'A *79 : . 117,600 50% A 50% '; 30 :":1 31 50% 7 30% 30 Shares 6% 6% 6Va : 50'A 1> • 27% 26% *204 *■ ,i $ per share ' 107 26% 50% 20 *51 12% *106% 1 54 28 Va 28 Va 20 ii3% 27 1 % '52% 110 *12 , 1 *52 112; 53% L 55 *109% 20% 20 54 >/a 29 5% ■1 29% 14% 114Va LI * 5% 50 20% 114 6 Ve $ per share y *14 14% *79 83 20 share 14% 15 •79 6% Range for Previous STOCK - $ per 1 50% -51% 1 29% 30% 51 % 30% ' 30% 14% $ per share YORK EXCHANGE " $ per RECORD 'v 4 38 Jan 28 13 Jan 23% Dec 21 49 Va Jan 30 32% Jan 47% Dec 4 27'A Jan 31 13Vb Jan 24% 4 35 Va Jan 17 19% Jan 31% Dec 7 4'/a Feb 5 39 Vb Jan 70% Dec Mar 277/b Sep 44% D«c 12% Dec 43% Jan 22 Jan 28 Jan 65 Jan 25 Jan 2 38 Vb Feb 11 1074 Jan 3 --- '41 31 Jan 15 .■ 29 42% Jan .v- 20 Oct -'••/I'l ;•>,•; —-No par — ' mrrt Whein —1 distributed - • • 1374 Feb x-Fx-dividendi. v . 6' v- 34% July 5% Ex-riabts Jan 1 THE COMMERCIAL & Bond Record «» New „0T.CE-Prr.» ^ anc! when outside of week, the tne regular weeaiy ittUKc letters in tee column letters in the ciuuuitt The italic The italic headed "Interest - } Treasury 3%s XS"}?}® ^-XlS'iaSi XJi'iqS ——}®5W955 Info "i n?? 3s. 3s 2%s ——— 2%s 2%s—_ Treasury Treasury Treasury Treasury Treasury 2%s Treasury Treasury Treasury j-d 106.2 105.26 106.3 M-S 106.1 Treasury 23——— XS'iqX '61 % 62 '61 Va 62 60% 61% Series No. 28_. *61%/ 62 60% '63% *61% 61% 62 — V 29— 30. No. — : Dee Treasury TreS .*£— 2S Treasury 2a — 103.10 ; 103.20 '102.18 102.20 '102.6 102.8 external s f 8 bonds. '103.21 Carlsbad (City), as. (Rep) External s f 7s A68 assented 103.14 '103.17 103.19 '103.25 103.27 '103.27 103.29 '103.31 104.1 *104.13 104.15 '104.20 104.22 j-d '104.23 104.30 j-d '104.28 107.21 j-d '101.28 101.30 110% 112% 111% 114% 5 101% 63% 101% y • 24'% 52 22 % 22 26% %"•/ 25 % 23% 24% / 23% 23% Sep 1961 Sep 1981 23% 24 Vb '■/ft. io: 23% 23% SISp 23% 24 .Jan sinking fund 6s 6s 27 ^.Jan 196r assented— A 6s assented • ilfs -:'j •' .1963 ASinking fund Il961 6%s *- A 6s 22% 26% «h<w» HI21 0/i;( 23 19 : 22% Hp ■ 23^ " assented igga 22% 7s—Il960 r (Hukuang Ry) 5s (Republic of)— 23 8 .1981 22% 22% 21 iggo 1*34;' "'■♦ ftft'ft^ftft 22 % 37% ■: [h 1 12 '/ft/ft;'. V';f: , V;i A 6s of 1928— ^Oct 1961 81% 81% A 6s of 1927 .Jan 1901 82% 82% 10 .1970 61% 61% 47 38 external f f bonds s ACdlombla Mtge Bank 6%s^p».«^r.i947 '50 ASinking fund 7s of 11028^^^.1948 ASinklng: fund 7» of 1927.^.—1947 *50 / 21% ft 1901 A Chilean Cons Munlc Colombia . 23 io«o St A 7s assented ACbinese ■ 1961 assented ,AGuaranteed sink fund• fia - ' 25 22% to«i , AGuaranteed sink fund 6s A 6s Foreign Securities ■ 26% 26% 21 1961 21% +-> ■ AChile Mortgage Bank 6%s.—.1957 A6%s assented to ft 7 ,• • ■ 23% AExternal sinking fund 6s—.—.1963 .. 26% • AExternal sinking fund 6s..—..1962 A 6s assented., ; —1962 120%-124% 23 21%' 14 /;■ 1961 a 102.5 63% 22 24 23% jpHQ Feb 1 hs.. s assented AExtl •• 124% 124% , 13 21 ft:'//:ft I960 , assented ^. external A 6s , 124% '"■•■ : sinking fund 6s.—^Peb 1961 A 6s Awr York City New , *25 iq*q .A6®,48 assented jra nslt Unification. Issue— 3 % Corporate ptdck————1980 78 61% , '102.3 18 113% 114% 101% 101% . j-d 1 ■',;'■■ 2 112% 112 1942 104.30 '107.19 112% .195* AExternal sinking iuod, 6s.^ AExtl 103.23 '103.12 j-d 2s——---1953-1958 Treasury l%s— ——June 15 1948 Treasury ft l%s luou ' *74 Va (Dom of) ^s assented,.:,..;.,,,,,, $ j-d Treesury 91 1984 ,r. 30-yr 4s 1960 25-year 3%s—1961 •'• 2%s,,..Jan 15 1948 > 103.21 103.12 M-S , 91% 9 4'/a , ■ 20 93%- a Chile M-S . -v'www . 90 V, 93% a M-S Juue 15 1952-1950 —Dec 15 1952-1954 Treasury 2s 101% 102% 104 '95% 110 1978 107.6 j-d Sept 1950-1952 ———•——^5, Treasury 2s Treasury 103 102% 100 93% 109.30 j-d March 1950-1952 103 62 102- 3% — 1— Treasury 2s 62 63% •62 1 " ' 101 91 Canada ft M-S,. ; 1 62 102 ' iqvh '109.28 j-d 1948-1950 2s Jun 1949-1951 "2s:i———.----.Sep 1949-1951 2s •—■—Dec 1949-1951 Treasury -62 101 i 4%-4%s.—.1977 s . Treasury J/a 61 63'A " 1970 '107.4 i 61 • read] 4%-4%s_ External S f 4%-4%s —_ 106.5 MS •pft .61%. 61'/a 611/2 •*— « lQRi ; _ External '106.3 j-d 62 *61% Eefunuing i f 107.22 j-d,. . (Province ofl— stamped_i '107.20 j-d 63'% 63% 27 ... 109.19 M-S . '61'/a 61% 60 Vb 26__ 104.31 & j-d 62 Series No. j-d : 62 60% 60y8 Series No. j-d l|J5l-*9M - 3%s Series No. 104.13 104.31 j-d . 62 61 % 24—— 25 *109.17 us 1967-1972 60% 60 Vb 62 61 % — 03 ■ 104.30 -104.11 j-ii No. External 106.1 V 22_____ 63% 63 •/ . 61% 63 r, 62 '61 No. A6s ,} 106.2 M-S High 61% 62 - '61 -,' y Series Buenoa Aires 105.30 ft 19^6-1959 2%s_——June 1959-1962 2%s .Dec 1959-1962 Treasury v . / 20—*—; Series' "No. (City) s f 5s— ;„1957 Sinking fund gold 5s—1958 Sinking fund ynld A« ft/ft ft-IORft 106.22 105.30 '61 3%s Series No. 21_. 3%s Series 107.5 '106.20 Low >62 '61 Brisbane 110.17 '107.3 ,, £ 19_ 3%s Series No. . '110.15 J-d 2y*s Treasury 107.10 M-S Dec 19b (-19(2 2V»s Treasury 107.17 '107.8 j-d ; June 1967-1972 lis.., Sept 2%s_ Treasury 2%s Treasury 2%s_ 106.16 j-d : -lb " 104.24 '107.15 January 1 No. 3 %s ft '106.14 Range Since Sold • High 3 %s , , A 117.1 113.29 '104.22 < '■ 3%s 116.9 MS ft. No. 3%s Series No, '116.31 , Low , '113.25 M-S - * 2 VaS——-u.--June 1964-1969 2V2S Dec. 1964-1969 2%s -— — Treasury ?%s -— 1966-1971 2%s—— 109.25 M-S Treasury Treasury '109.23 j-d -ft Treasury TtHZ, '104.9 104.11 '116.7 Series • 1 Bonds Bid & Asked *61 3%s Series 115.20 Sale Price 17 3%s j-D Treasury Treasury 115.20 ; . j-d —''^3-1968 — 111.20 f, No. 3*^8 Series No. 100.29 US v Xsai958 Treasury 108.27 '100.27 '111.18 j-d Series 3^48 - • (Continued)— 3%s '108.27 MS k 1951-1954 Treasury Treasury ./ ft MS ' bonds V-i . % Friday: Week's Range .'//"Lastor Friday's ' (Continued) $ ■ A v; J' , Interest Exchange 3%s • 100.30 j-d 1948-1951 Treasury Treasury ;'ft U-S ~~XS~i2X Treasury Brazil High Low No. ' 100.9 '100.28 j-d 2%s— 2%s_ rr-1958-1963 2%s iaaa 2%s 2 %s——~ 1949-1953 2 %s„_.,~1950-1952 2%s 2%s 1956-1958 2%s ——1962 1967 Treasury '100.7 j-d Stock Period 106.8 MS JoJr"iq4fl 3%s Treasury 3%s York January 1 Sold External '106.6 A-0 Treasury New Range Since Bonds High Low 4*/4S Treasury Sale Period / V" ' \ ' BONDS Week's Rang© or Friday's Price Bid & Asked Last ft, i:ft/~ , the month wh«n the honde mature- "RANGE FOR WEEK ENDING FEBRUARY 15 V Government S. »—,«« Period" Indicate to each caw t Interest YEARLY - Friday ',/////// 'A BONDS / /'/ft//////'/'/■ New York Slock "Exchange U. < r Monday, February 18, 1946 York Stock Exchange WEEKLY FRIDAY " FINANCIAL CHRONICLE 52 1 V£v>!-r 52 /|CftftftS's; ■.'/•Vi -A , Copenhagen (City) 5s 1952 25-year gold 4%s.i^«.——1953 :: Wertheim & Go. Members New' Aft.:TeIcp Jione A'' 120 REctor 2-2300 — A Costa Cuba York Stock 'Exchange Teletype NY Broadway^ New York Rica (Rep of) 7s„ (Republic of) 5s of 1914 External loan ft/ft-4%s'iaxternalft 1*1603 1951 1949 4%s_ 1949 debtft.yftft/iqv?.. Sinking fund 5%s A A Foreign Govt. A Municipal • sink fund 6s 1947 ,— • f 6s s i A Brazil ' 101% 103 *'101? 103% 102'/e 102% 102 J/b 102 <-• 97 98 97 97- 97 98.% - 103 3 102%. 102% 99% paid———— part paid Haiti s t 6s set les A—.1952 ext 6%$.. .—I960 Helslngfors 105% Irish Free State extl 107 . 65% 107 ft AJugoslavia 105 65% AMedellin 111% Mendoza 64 % : 106% 111% — — 65% Mexican , (State Mtge Bk) 7s.. l't57 6V2S.—.1954 (Colombia) readjusted——.1954 Irrigation— , (Prov) 44 . A4 %*' stamped AAssented , AMexico Stamped pursuant to Plan A (Int reduced to 3.375% )—1979 (US) assented.—£l.^..lfl43 to 04% ft 63% 64% 58 AExternal s f b%s 59% 53 ftft':58 • 3 'ft;' 59% 62% 65 60 62 58 58 62% 1948 1945 1942, 5, 67 agree 65 62% Nov. agree 65% 1 to 1899 59 1 2 1942, extl 5s of 1899 £ 66 58 AAssented 5. Nov. AAssenting 5s of *57% • f 5s—.i.680 s 101/103% 102% 102% " 1968 (City) (Republic) 109% '112% .1964 — 103% *107 ■ part A6s 106% ?105% of 1927 —1957 pursuant to Plan A t 3.375% )—1979 1952 stamped pursuant to Plan A : ; '-ft tint reduced to 3.5%)1978 B% funding nends of 1931 l< Stamped pursuant to Plan A (int reduced to 3.375%).—1979 Erferna) $ bonds of 1944 (Plan B)—; 3 [7s————.1967 A7s 104% 104 pursuant to Plan A s (Int reducea to 3.5%)—,——1978 AExternal s f h%s of 1926 1957 . 1961 Greek Government--- 99% ;Stamped .,, 1940 ' of) (Republic 108% 109% 8s_.—^_1941 (U S of) external 5%s 1969 • - 1949 — fund series.— • —1958 f '7s-.-——. sink Admin 5%8 2d series 1st A Estonia -1953 s :1942 .1955 French Republic 7s stamped— ..1949 7s unstamped ,.——1949 —1972 external OVis External .1952 5%s 2d series...—1969 (Commonw'lth) 5s of '25-1S55 5s of 1927 1957 External g 4%s of 1828 1958 External A.1951 ' External - series 5 %s Australia belgium 5A2d Customs Argentine (National Government)— ,8 f external 4%s 1948 8 f conv loan 4%SJ»»~->.—.—1971 8 t extl conv loan 4s Feb; —1972 t extl conv loan 4s Apr- ser series B— 8s lADOminican Rep Cust Ad 5%s_...1942 5A 1st series 5%s of 1926— 1940 (Dept) coil 7s A__ 1940 s I 7s series B_ ^_1845 A External 8 f 7s series C— 1945 A External s 1 7s series D-L.-—-1945 A External s f .7s 1st series 1957 A External sec s t Is 2d series—1957 AExternal sec .8 1 7s 3rd series—1957 A Antwerp (City) external 5s 1958 External 8 1945 —i. (Rep of) 8s —... AAntloquia A 5%s fund External gold 4%s—.1962 fund 6s—1948 <King of Norway) 4s 1968 AGtd- sink Akersnus wks I a Denmark 20-year extl 6s—— Extern.il gold 5y28 Agricultural Mtge Bank xCdlomoia)— AGtd Public Czechoslovakia A8inkin« 1953 Stamped (Int reducea to Ai<s ippntral Ry) _'%s Series 3%s Series No. No. 1 2 Series No. 3%s Series No. Series No. 60 — *57% '3%s Series No. 6 "•%£ Series No. 7-. *63 ft . ■ft 63 No. 8 9 3%s Series No. Series No. 11. Series No. 12— 82 ? • A' 61%' ? V ft • 61% *61 3%s Series No. 13 Series No. No 16 jiage 78% /- -v ; - 924. 'ft-,-' 1 / 61 % 62 . 62 68 i' V 5 5 80 79% 80 ?f 78% 80 63% 61 /. 63% • • FOREIGN SECUBITIES SPECIALISTS . - - 1 | 50 Broad St., New York 4, N. Y. - > ■ •' . - - 63 63% /.'ft 5. .:,;' 60% 62 .•//'-/ft ••/•:, 60% 63 1. IWfARES & P.O. ma' ■ 60% 60%. ft fJtBL 79% 79 61" ••••ft 61% 62 ' ■ 61% *61 ft '"ft; 61% 61% 15— Series •' - 78% 61% 65 77% ft SECURITIES 66% 68 / 67 62%" / 5 /ft _.'ii >: iFor Financial Institutions FIRM TRADING MARKETS 62% ,5 ft 68 *78 —- 14 . FOREIGN 62% : *78 /'• 10 3%s 3%ie ft,'"- v 68 68 —. •»%? /- 63% 63% 64 ft. 64 ——.— No. No. ft '.i, ftCft'ft.:: 63% ' *78 —. — 8eries Series ft,'ft " Series 3%s - -63./.': ft'63 ft ?%s see 63% * S •/ - — j%s F-. 64 '63% ' , v7.;H 60 : — 5 3^46 65% .//v. —-—,——. 3 4 3%s ft ; 65% — ft:'ft.-/;;3"--; Telephone HAnover 2-0050 • Teletype N. Y. 1-971 103 Volume 163 THE COMMERCIAL & FINANCIAL Number 4465 , YORK NEW RANGE To dealers, banks, individuals, BOND WEEK ENDING RECORD FEBRUARY II. II. KiMIX & 11 Railroad - Bid & Asked Friday Interest 'Last • Period Low A Assented to Nov. 1954 1942, agree 1945 18% 1942> agree ♦15 |A Ireusury 6s of 1913 assent A Assented to Nov. 5, 1942, % agree Minas ueraes to 1910 Nov. external A6s reduced "• to iClty) series South A *24% — A 40 •='?? ■ >'■' .• ■;>. 103 103% 103 % 103% 106% 103% 106% APernambuco -• 1963 (State of) 1 \ 1967 7s ANat A Nat • r Loan extl lAPoland (Rep f 6s 2d ser s of) gold a 4 %s 1 ? *21 tint reduced 32 21 21 to .. 1961 • ^30% .*■: ■> 43 ' . .. 24 107% 1995 1995 60 61 92% 95 100 103 ?, ^ rH 0 in £ 107 53 ? 131% ; = 6 ,,106% 106% 137% 139% 103 103 107% 106% 12 ' 95 : 105% 105 VB 34 106'% 106% ? — 103% 103% 69 ■ ; * — 138% i Nov " i_194b 16 128%'? 128 % 128% ; 139% 124 ; 124 125 Vb *126% f M-N 128% j-D : v'?? ? ' 'J,'J M-N M-S 1948 ? !-■' i "•?./ ■' * r 111% 111% 35 • 115% 117'A 43 % j-j 106% 107 11- 109% 112 25 114 *104% 106% " 115%? 3-J ' fb' .'■ = 111% j-d '<}> ■, v .. -43% 43 35 - 4 117% 44 42% "•,... • =?'■ 5 37 35 ' 38% RR~ ?-'■ July 1948 A-O C ser 1 (int 105T« ^ 105% 106 I ( J t A-O • 103% «. v ■::<V:. • * < 103% 103 105% 107% 53 ':■■-■■■ } • ' ■ 105 103 33 . , ^ ? J-D 1995 ??- J-D 97% 95% 97»% 272 99% 101 % 169 ;93% 99 ' 1%% at due.. 1946) r?: ' . 100% : 99%* 101% Ref Ir gen ser D (int at \% to• • Sep 1 1946) Ref & gen •:. - gen to Dec . ?43:???? A Con v i Af-S due Rei Div _ 1st 4 ? M-S "■ ; extended tO——1951? V M (int at 3%% gold 4s S'west A •? 4=V.F-A Feb 1 1960 - 97% ? 98% 95% 226 r$i 84% 87% 93% 232 " 95% 98% '• •• — Pgh L E & W Va System— , V, due——--—-2000 F (int at 1% to '■■■< due —1998 ser Sep 1 1946) f.. , ■ M-S mtge Ref & ?; '? 1966 Plan 103 95 :?•?• 95 ?■ a-0 gold (lnt at 4%- to 1 Oct 1 1946) due——July 19*8 Ref k gen ser A (lnt at 1% to Dec 1 1946) due 1995 35% ' 27% 45 - * 24 19% 1 " ,, — to ■ ; 19% 2.375%)—2001 pursuant ••i,;; Jst 30% 519% ?23.' ? 23% *28 AExternal loan 7%s Stamped *32% 1968 Alegre (City of I 8s. Stamped -pursuant to Plan A i 33'? ■hi-;:- .1963 Porto 40 28% 27% Ff.-v; gold 8s_.. -1950 a4%s assented July 1 1st mtge gold 4sStamped modified bonds— 1 27 ' 26 *21 - ? 4s July 1952 A———1964 cons 4 %s Baltimore ft Ohio ■ :• 73 1947 assented AF.xternal sink fund A 137( 1958 t 7s s ' 1940 6s A4/>a» assented AStabilizatlon loan 153% - 36 1961 108% 147% ? • ?40 ;? external 7s..—_1959 loan extl s f 6s 1st ser .-I960 107% 126 101% 100 99% Zl (Rep oil 65 152% . ? Second mortgage; 48-——l—^iu.1948 , *105%; Stamped pursuant to Plan A ??? lint reduced to 2.125%)—2008 APeru 4s ' 1964- .July 1 1st 108% 150 ?106% '?'?• Q-J ; jsaa ... Atlantic & Danville Ry 1st 4s ? 102% 101% ' f3 1947 1 4s___ Atlantic Coast 102% 100% 108 ' H Jan 1995 Not- 1st gold 5s Charlotte Air Line & High 3 '"'.'v. •' ; *101'A 99% ■i;" ;• ' .-196'; 4s (Ill)r- General unified 106 99% 101% a-0 Ry— ? 1st mortgage 3%8——?——-1963 ? ? 107 7 ;• ?• 18 *101% Atlanta 9 *?•-, •? - *102% 103% .—1994 to Stamped Atl Knox & 101% a-O —1969 ? General 43——— 101 '/a 103% 103% ? 104 104 103%. 104 f 5s ser A-1983 ext Arbor-1st gold High 102% 102 % •,-■107 V 106% 107% 107% r 107 107% 104% ? 104% 105 A-O mtge 3'/4S series E Atcnisou Topeka it Banta fe— >'• 11 102% 103 102% 102% f-a .1975 1st . 151 % .1962 3s_—— L Adjustment gold 1963 ref 3%a series B_„ sec 43 •; ;??? deb Anglo-Chilean Nitrate deb • —1963 8tamped assented 5s Stamp mod 3V*a ; —.1958 — Co Co 108 % January 1 \ Low No. Telegraph Co.- debentures &? M-S M-S Range Since Sold Bid & Asked 102% —1980 debentures Armour msa 1956 4%s a 40 39% 1 &i - * . Bonds Friday's or a-Q 6 Teletype—NY 1-310 Week's Range 1 Last Sale Price —2030 debentures. 'lobacco 3s ? . . (Kingdom of) fund Friday Interest 1998 debentures 2% Amer , Telephone conv 2%s ??';. A . (State; Apanama (Rep); extl a 3s ■ ht Municipal Bank ertl s f 5s 1970 Oslqr HCltyi' sink fund 4%s^i^UJl958 Ext American ?•• ■•>•• ■ ,?' , 15 —^.——1852 ,4s sink fund extl loan-! ■. 18% x~*- -(r{i'•* *18% 2.125% )—2008 7s. ; Wales External sink .■ • 11 18% -.1959 . Norway 10% 14% * , 13% , 'Vj ;• 12% g;^?; 15% • ' ' Alleghany & West 1st gtd 4s Am & Foreign Pow deb 5s York New High Ann External at 5s-:., External s f 5s—--,-^.^1958 . •> 18% 2008 f 6%s s ? Stamped pursuant to Plan AMontevideo Ne* Low 2 msi Stamped pursuant to Plan A 'M lint reduced to 2.125%) lint 11 1933 t «%* s Exchange Period January 1 (State;— ;ASed external A Sec Sold No. 12% 11 12% 5, Assented Stock Bell BONDS New York Stock Exchange Range Since Bonds High ' 5, A York Low Mexico—(Continued)— AAssenung 4s of 1904__ AAssenting 4s of New Telephone—DIgby 4-4933 Week's Range or Friday's Sale Price BONDS Membert Broadway i? •?'??>? 61 'i? i?'?*/?.''?'' 1926 Reorganization Securities PFLUGFELDER, BAMPT0N & RUST "27 State ESTABLISHED Exchange co.|||§te St., Boston 9 Telephone: Capitol 8950 . Teletype: BS 169 Broadway, New York 4 ' Telephone: Digby 4-1388 ?•?"?% Teletype: NY 1-86 *? Stock 15 on E-COUNTER SECURITIES New York 921 institutions, lawyers, executors and offer our services for quotations we FOR CHRONICLE M-N 95% ?? 93 86% , ^ ' '•?• V 92% = 96% 652 ; ;, ; 75% . 88% . :?;?101%?: 101% 101% 21 ' 101%; 103 ■ vi ?(Int A Prague reduced to 2.25%) (City of Greater; 7 VaS—1952 Queens'^nd (State) extl A* c# AR10 Janeiro «Clty mti F-A ;??? 1948 8s 01» ; Stamped pursuant A-O f (Int reduced to .2% ^ Rio Grande do Sui (Stale of)-— ' *" A8s 2012 1946 A-O 44 42 42 — — 44,V ; r ^InK fund'gold ? 41 41 41 45 38 ?/:? 2%s 47 7 'A7s external loan of Bethlehem Cons Stamped pursuant (lot . reduced A7s A . (Int reduced ? 4%s mtge *10278 98 100% 98% 101 , 10 v, :?; 130% 131% :■?■ 101% 101% 102 102% 4 13 102%a02%. iO ' • 24 ' 131% 131% 1.02%? • —- * *101% 102 • 105% 105* 102% ' " 3 08% 106% 106% 2 108% 106% 105% 107% 43 108% *108 1967 — * 1961 __ v?4:: 106% 106% . 106% 106% 49 101%.?,-101% 103% 80fki 79 80% sei 84% 100% 101 20 79 «. Jjl>- 81 85 *75 % . <>, 43 104 Va 104% 104 76% ?? " 104% 105% *106% 105% 106 % .—1969 107 107% 21 106- 107% 96® 107 107- 19 106 ?? 107 Niagara El 1st mtge 2%s_1975 & Pgh Ry— 106 106 Y* reduced Paulo J-J ■; 3-J ——1936 —1950 Stamped pursuant to Plan A (Int reduced to 2.5% )—1999 Bush ... ?'vl,vv^ 87 88% 142 ?; 54 55% 16 Term 48% 1955 105 98 10 18 5s 57 104 *105 1952 65 ?' 55 54 deposit— 88% 85 ^ ; Bldgs 5s gtd——-!960 Consolidated 106% ■■ ' 100% ?- 104% 107% 3-J ,—1956 ... 105% 57 J-J ... ftxtl. water loan—. of Bush Terminal 1st 4s • A 7s r at - Stamped pursuant to Plan A (lnt reduced to 2.5% )_^-w-wl999 * (Interest 3 % to May 1, 1947) due---—1957 IBurlington Cedar Rap St Nor-— SAlst & coll 5s?-—-—--—-—.1934 u.—1957 (Statev 8s A8a external— — modified Stamped ACertificates fASan *105% 106,7« Ai%?%%1947= uuiiaio Rocnester 2%)..—.<.-2012 to f debentures r Buffalo 1952 ■ Stamped pursuant to Plan A (Int. 4-? 2.375% )___2001 to A6%a extl secured t t- • /, 99% 100% 100% 101 • 131% 1960 Bklyn Union Gas 6s series Gen mtge s f 3%s runot4s——i«H4 Paulo (City) 8S-—— Stamped pursuant to Plan A v ? 100 101 Bklyn Edison cons-M 3%s————-1968 Bklyn Onion:: El 1st gold- 58^.—1950 to 2.25 %)—2004 reduced fASan f 3-J 3-J ,I—*1.1.1970 • (Int ; ? • 104 102% 1035/a - Banta Pe.external sins .* ser 101. ? .••"•»- 9 103% ■ municipal loan —?1967 Stamped pursuant to Plan A ; , A_._—July 1970 t A Boston & NY Ait L: 1st 43—. 1955 --vJ :?•? ' ■ ■ *?"■? —196$ Plan Corp— 2%s -;i:v 112 r?;;: —.v—1955 Alnc 2.25%.2004 to Steel mtge 1 102% 103V< ?'/ 103 — 1956 lst. M 5s series II— 1st gold 4%s.series JJ > 45 *42 ? 102% 1951 debentures Boston & Maine 1st 5s A C 1968 1926 1st 3%s j| 1st mtgs 4s series RR 'W—■' i *v*'^*?'/? 3-J 1959 ? . pursuant to Plan A (lnt reduced to 2l% )?U--?k2012 , Beech Creek Extension 3-J \ 1950 Bell Telephone of Pa 5s series C__.1960 Beneficial Indus Loan 2%s.,: __1950 Stamped ; due. ;?Bangor A Aroostook RR— :^';Ci»n'Yef 4s——.—^——4^-1951 4s stamped—-— —->—1951 : 42 45 CKlii 45 1947) 0: Toledo Cin Div ref 4s A— ?;45 ??!?:? -«~ 45 — 1 Jan - it; 32 to ?:;' 103% 45 3 41 • ■ • extl loan or 1921 A6s external 102% 1?^; 45 41 44 F-A Stamped pursuant to Plan A (lnt reduced to 2.5%)—,-1999 , ; A-O 43 , ' 45 45 . 81 30 102% 103% 103 ??P-A??;?; Plan A to *■43': 1!? StRinped pursuant to Plan A (Int reduced to 2.375% )—^2001 AExternal sec 6%s .——*1953 ' ; ; y".''.." 2006 M-S 1 Stamped pursuant to Plan A ; " (lnt reduced to 2J25% )—2004 A6s exn aollar loan--. 3-J California 3-3[ _1968 Calif Oregon Power Stamped pursuant to Plan A? (Int reduced | A Secured ■ a I .. to Canada 2%)——2012 3-J 7s; -——-1940 Guaranteed Stamped pursuant to Plan A m (Int ' reduced Serbs Cronts <k A85 series 7s ASilesia B 1962 jlf-N 18% extl 1962 M-N 17%; 17'A sec iProv extl of) 7s— (City 1 Sydney A Uruguay s J-D 1958 A4 Vas assented ;; 18% (Republic) extl 8s -1951 F-A J-D Can 19 jtzxCarolina Central 1st gtd 4s Certificates of deposit J-D F-A ,103% 103% F-A *115 "M-N *110 1946 19 Pac Ry 117% Ry deb 6%s—11946 deb stk perpetual- 35 *10% 1958 1955 f 5%s_. 4% 116% fc'l i 1 114% 101}j! . 108% 16 115% 116 •— J? ?.???:;? ' 119' J"3% •14 • loiiliolu; J-J 122% 121 ■? 3 116% 116% „ F-A ,.1949 116'? ' ?:-3?:- 123% 123% ? 123% 123% i?-?. 122: *118% 119 *> ?' J-J 4%s 118% , 4 A-O gold ? 3 . 117% 117% J-D Northern 108% ■ * ? *125% 125%-?:?. J-J 1955 4%s Canadian 1 , ?; *?v ? ??'•..:? ? 107% 124 --1956 gold Guaranteed ? — *108 -"123 123 J-j 1969 1970 gold 5s gold 4%s Guaranteed Guaranteed external— secured A ■ AO iKJngdomi— —Oct 5s *108% A-O M-N A-O cons gold Guaranteed 3.5% )__-—1978 to Slovenes .-19741 3%8—— gtd 5s A—5962 National gold 4V2S 1957 Canadian A-O Elec Power. 3%$—.——1968. Soucnern ??r:i? :'-r -::Z — ■ 6s.:?; ? AExternal sink fund -I960 ;.' Carolina Clinch - Ohio & —1965 4s__ ' AExternal 3%s-4-4y«% External 6s..? fund sink ($ AWarsaw - ■ . 1978 ?; ;? J-D .1978 ■*;.: .89% 89% -- - i ' ? 88 ,?: *81 20 *16 J-J ' 90 86% 87 ri¬ 89% tCentral of 95 83 18 17% ?- 15% gtd cold 1 A5s series A stamped. _ _ ? 1907 —1953 — — J-D 1948 M-S ? 1947 Great Alabama Power Albany 6s 1st mtge with warrants 3%s__ —1967 — RR 3%s. mtge 4%s For footnotes — — page 924. . J948 'iiV-.'i. A-O 1 194? •,? .-A-O "A-O A-O 26 ;; ARef & 21% ARcf & gen 17% ACi^att Div j'.T filiWy. .'.i 1945 -31' ■ 1945 Jmo<22i 1 5VaS series B 1959 tunu 371:4 5s series C.^ —1959 gold gen 1948 ■?•?... Nov 5s pur gold 5s? A Mobile Div 1st oi aba0? ■99% ": 1 ■ «-V?w?r;'.*, , 101% 101% • *- 't V.j, u 116 tACent New 10*5% t A Central 103% ?? A5s registered 101% 101% i AGeneral ?? 105% 105% 108% 21?- 107 108 % 102 102% ?• 102% ,»'-"• 3 108% 105 108 V* ' ' ?•: •=* *104% 108 ■■..,? 105% ; 102% 14 102 3 101 r j.*..'' •• 102% 102% 'r A; •? ■■":•. •' • lOOiMOOli ? :? 115% 116 •• 1"? :■ - 14 99 114 102% 105 % ? 100% 116 Eng of N J 1st gtd 4s gold 5s gen 104% 104% 54 \ 57% 1961 • ..1987 ? ,-1987 1974 Central Pacific lst^ ref gtd gold 4s_1949 4. Guaranteed gold 5s A————I960 —- : 1st & ref "•■', (4y<% — — series A *107 ... 109% 109 % 106% ? 106 lC6Va 108%' 104% 61% 60% 56 52 50% 107% 108 % 108% 110 105 106% . 1 : to Aug 1 1949)-- ?; ;?? 251 • 100% 39% - Power 3s ' 28 *49 Y . : • 302 52 registered '■} 57 53% ?: A 4s ;:f~7 8f 41 44% 42% m 49 Central N 26% ** 76 ■ 1987 ■? 21% 22% = 108 *108% —1966 —•——1987 4s. V.-l 37 —1946 Light 3%S— 105% 74 % 23% jwitf? io gold 4s„ 1951 money 103 *104% 105% ' -A ,*103 J-J 1948 —1975 see ': X M-N 3%s__ —1972 assented fit Susquehanna .e F-A Perfor Wrap Pap 6s Albanv Gen Southern 107% 108 107% • J-D 10-year deb 4%s stamped Alabama -..1981 ——1965 gold 4s Companies Express coll tr gold 4s Coll trust 4s of 1st P mtge 5s Central Illinois Adams 4sJ debs— U Georgia Ry— 5 A Con sol :.83?ri 1 A 1st 92% 13 1st Corp 3s 89% 4; Industrial Adir Branch ACent se 20 F-A :•?. =?;;?; 90 F-A . 1 '?■ 93% -1958 7s 24 89 'A 88 92% ?■;■ F-A . V A4%8 assented & Cart -- 89% -1958 readjustment (City) external Railroad and ?? Celanese 88% 88% t M-N ?. — 3Vas extl *110 ---V ■■'•{'■ M-N"; M-N conversion ? 3%-4 %-4 A extl conv t j 4-4V4-4%s extl readjustment ? ? * 1937) readjustment Exiernal .1964 .1979 ;=:. bonds of — -1974 •*113 113 113 THE COMMERCIAL & FINANCIAL CHRONICLE Monday, February 18, 1946 NEW YORK BOND RECORD RANGE FOR WEEK ENDING FEBRUARY 15 Week's Range or Friday's ;v .Bonds Friday BONDS nierest New!York Stock Exchange Last Low 5 A Central RR ft Banking Co— ;y-y 5s stamp (partial redemption)—1942 Champion Paper ft Fibre deb 38—1965 unesapeake ft Ohio Ry— General gold 4%s——.—.—1992 Ref ft impt mtge 3 %s Du-———1996 Ref & impt M 3%s series E—1996 Potts Creek Br 1st 4s ——1946 R ft A Div 1st cons gold 48-——1989 2d consol gold 4s __1989 f ACLlcago ft Alton RR ref 8s 1949 uusagi/jburilngtou ft Quincy RR— General 4s ———1958 1st ft ref 4%s series B—*——1977 M-N J-J *128'/a 105 & East Ry 3%s... El Paso ft S W 1st 5s: i':' 248 11 116% 117% F-A 3 105 102% 102% 35 102% 106'A 102% 49 75% 23 99 106 — 102% F-A 54% 64% 84% 85 ' 102% *140 .]■ ; v __ 97% 120 J-J 114 - M-N 24 - . J-J -V'% J-J ■ '.i,' •- ';.,. '46 -- A 96 71 :/'■ ' ),:1 .jj:- ■ :v -*1953 Div 1st mtge 3%*..— 105'A y. *106 Francisco Sugar coll trust 6s. ; 93 ^ 1: i *107 - 96 ; Gen Gen mtge 3%s ser - 85% yjy-y'yyy ' — 106 88 87% K^'m- 59% 56% Q7 QO 88% 107% 60 J-J A.' yvx 112% -112% 112% ! *105'/a __ 1' J-D *^ y ■ J-J y-yy. J -J 99% 99 93% 93 M-N y y coll tr gold 4s —1990 *..——.1970 *108 M-N J-J 19 4 105% i. ; .——1980 1961 i 106% 93% V 97 < 46 ' A, ■*_.;■; ' *106'A 1961 108% 107 A-0 106%- M-N .. 1 106 106% ■' 108% ■' •mis 2000 107 82% 103'A 1956 *80 1958 28 106 » 80% 32 83% 102% , A-O -102 y 102% 103% 103%. 84% 104% - 101% syy 9 103 103% 45 : ys 20 104% 104% m'--- 104% non-conv deb 4s—1954 ADebenture 4s.——.. .1955 J-J ADebenture J-J 1950 mtge 2788—1975- 72% J-J 75 v;.;- 104% 106 ; 104 V-.:U 59 48 48 y *86% 47% . . 106 104 1st gold 3%s———— 100% 104 100% 104 A 108% 108% *105% —-1951 *103% 32 102% 106 103'/a 104 ; v 1 59 59% § 22 46 50 . - 88 " *103% — *104 lines 3 %s *66 ■' 9 ' 44 . Y.;; J-D *50% 53% v' 49'A J-D *50% 52 48 104 A-O 101% 102 4 • ■ *' 95 *105% 111% 105% 105% 101% 101*8 *105% 1963 _1063 J-D J-D 102% J-D t Alnd ft Louisville 1st gtd 4s J-J .-1956 Indianapolis Union- Ry 3%s ser B.1986 Inland Steel 1st mtge 3s series F—1901 Adjustment A-O A—*—1955 92% 51% 53% 87 M-S \ Grande RR— .—..1936 ——1955 ■ 64% Detroit Edison 4S series F— 64% 76 :.v ' ■■ 20% ,:5o , 106% 107% -yv • Y / 103 A 103 sli 108 108 V. J-J 103% f-A;S 105% • 103 -: ' 103% • 105: 105% - 105A v'Y'Y'-— x'-. 54 * 108% 105 A 27 , 103% 105% 97% , $ 103% 103% 108 *100 92 92 77% 95 3 105 A 105 A • 'A 81 , 54% > 76% 10 85% 98 48% Y 5 96% 105 A M-N" 1 . y .111 28 64 Kanawha ft Mich 1st gtd gold 4s..1990 City, Fort Scott ft Mem Ry— A-O 66 73% 8 109 J ARefunding gtd 4s——-J_-*—1936 ACertificates of.' deposit — A-O 73 68 Kansas City Southern Ry 1st 3s—.1950 1st mtge 4s ser A__—_—_*.—^1975 A-O v, ' 101% 103% 105% 105 y mt2'j 103% 104% —V.A 98 101% 104 101 |yyHI:ll.4|| K 67% 121 100% 101% 100% J-D J-J 100% 101% 67 .1965 I9ADU Sou Shore ft Atl gold 5s 1937 1st M 3%s —1961 * 106% 109 ". 79% 77% 1 20% 72%. 74 : 848 ^yy.' 63 ■ *70% 75 *49 55 20% ; 76 106% 107% 108% 109 3 16 80 20% 15 . • 109 ' y; 79% ,14% o.y- 5 106% 106 % 109 70., 283 y 20% *108% 110% 63% 70% 45% ' 50 ' *118 106% 50% ' • 105 i'y." ■ ■ ■ .. 106% 106% 53 . ' '. 109% 109% Ptxiuesne Light 924. 75% 77% 17% 16% ...1978 A Second gold 4s.. —1995 Detroit Term ft Tunnel 4%s —1961 Dul Miss ft Iron Range Ry 3%s—1962 page v 73 109 . y--;y; Gen ft ref mtge 3%s series G 1966 ref 3s series H ...1970 Detroit & Mackinac 1st lien gold 4s 1995 see 103 69% , 72% Gen ft footnotes -'*100 20% — ARef ft impt 5s series B— For 85% 96% —^ 96% . r':Y Jones ft/Laughlin Steel 3'As. gold 4%s————1936 IDenver ft Rio Grande Western RR— A Assented 105% 82% 84 87 . James Frankl ft Clear 1st 4s. ■' SAConsol f 5s__ 114% 38 ■ J-J 106% 102 J M*7 5 89% A-O Called' bonds 104% 105% 1 :ys3% J-J ,96 92% M-N M-N s 106% 106% Xyii, "my A let gold 5s series C———1950 IA Internal Hydro El deb 6s_—*1944 Internat Paper 5s series A ft B—1947 1 11 .y Vi'K.'V1mm-n 92% J-J Debentures 5s—————1955 116 "' ; 103% 96% 100 ■ - yy'yvw A-O ~—-1950 *112 100% V: 1^16$; . 105% 105% - • J-J 6s series A—July 1952 B '; ?[[ * * ■ i'. ■ ; 28 96 105% 106% ; ). M-S Jlnternational Great Northern RR— A 1st 6s series A——————1952 99 99% 95 105'A AYYAy.','.',';';; , —May 12042 Delaware Power ft Light 3s i.973 AGeneral 98% A-O mtge due..—.—.1993 4s __ 102% 103% 99% ,96 ; J -J ) . Coll tr 4-6s 8 A 1st consol — 106% 106% J-D M-N IDenver ft Rio 105% 105 *103% Int Rys Cent Amer 1st 5s B——1972 Int. Telep ft Teleg deb gold 4%s—1952 —.1973 division __ *101% 102 • Essex 97 96% *102% J-J - A-O 102% 107% 107% 107% Illinois Terminal Ry 4s ser A.—1—1970 III ft .Iowa 1st gold 4s——1950 48 103% 104 104% ; ioi% 102; ; -1963 Joint 1st ref 5s series A— a 50% 101% 106% 106% 105% ; 111 Cent and Chic St L ft N O— A 1st 5s series 51% — 105% 106% —1952 i. Collateral trust gold 4s__ 1953 Refunding 5$—^——. 1955 40-year 4%s—--i -I960 Cairo Bridge gold 4s 1950 i Litohfield Div 1st gold 3s— -1951 Louisville Div ft~Term gold -3%8-1953 Omaha Div 1st gold 3s——1951 fv St. Louis Div ft Term gold 3s——1951 -Gold 3%8— 1951 Springfield Div- 1st gold 3%S 1951 Western Lines 1st gold 4s——1951 mmRegistered : — 86 86 Y Y .'XV!: 48 : 108% 104% — —1951 sterling. 1951 Collateral trust gold 4s——1952 Refunding 4s— —1955 1st gold 3%s ma 104% 108% " 59 : 48% 75% 67% 73 / 113 — Purchased ; 76 67% .. 83 , 112% 1st gold 3s Ref sink fund 6s series & 110 140% 142 -1937 1951 1st ref mtge 4s ser D 67 1: 106 J-D : A Deposit receipts—— A Cuba RR 1st 5s gold.—..—.1952 A Deposit receipts.....———— ?' A7%s ser A deposit rets 1946 A 6s ser B deposit rets.——1946 Curtis Publishing Co 3s deb —1959 76 76 75 107% 108% J-D IA Cuba Northern Ry 1st 5% s—.1942 J-J 103% 104 108% Illinois Central RR— 104% 106% 6 108% M-S Continental Baking 3s debs *.1965 Crucible Steel 3%s s f debs—.1955 ,*73 '',y 102% Feb 1957 "-f: 1st ft ref 4 %s series C Ry 17% 103 103% 103 —1999 AAdJ income 5s Extended 105% 106 : *106% 16 103% 104% 105% 106%. 103% 103% 109% 110 Illinois Bell Telep2%s series A—1981 108% 51 102% 103%. ll-yy J -J Income 107 — 16 16% *104% 104% 106% 106% • A-O debentures—— Morris , 107 104% 80% 108% J-J debentures..—. * 108 105% 107 ; — F-A 3%s .*1948 ref M 5s ser C 106% ? 45 110 -106% F-A 3'/as ft 106% 109 „ 106% 107 37 .115% 115% 3 • M-S debentures—.. 1st .109% 110 106% 107% 109% 109% 106% 107% 106% 106% *106% 1990 1st gold 4s A-O 3%s r 139% 132 75 I ..." . 108% 109 107 107% 106 Ya 107. . 83% J-J Consolidated Edison of New York— — 122 136% 127% r •y:A/.y:yy 110'/a J-J ...1965 Delaware ft Hudson 4s extended—.1963 121% — 105'A 106 Ya I; 108 iiC.v'' A-O A-O .—1958 Delaware, Lack ft- West RR Co-— N Y, Lack ft Western div . ; 80 : F-A 3s series L_.——.1977 L 1st ft ref 4 %s..——19515 Deere & Co 2%s debs.^ .. —* 93% Commonwealth Edison Co— ; 88:l'i Hudson ft Manhattan 1st 5s A——1957 98% 100 89 % - 77. 106% 106'/a ■ f-A —..1959 Dayton Pr & Lt 1st mtge 2%s—1975 Dayton Union Ry 3y»s series d—.19C5 y Household Finance Corp 2%s —1970 Hudson Coal 1st s f 5s series A .1962 Hudson Co Gas 1st gold 58^.—,——1949 121 98% 129 100 A-O : Columbus ft H V 1st extl gold 4s 1948 Columbus & Sou Ohio El 3 y^s——. 1970 " v 130% 132 ... 1st .1: v ^ 121% 122 -1980 tJAHousatonio Ry cons gold 5s i r 4s..——— . *139% Gen mtge inc 5a series A—.—2015 112% 111% • 109% 109% 109%; M-N — Power 1Q6% 105% 105% 1st ft ref 3%s series D ,——1969 Gulf States Util 3%a series D 1969 ft Pittsburgh RR— Consumers ; 88% 104 *115 Gulf Mobile ft Ohio 4s series B——1975 59% 112 - *121% J-J t A Consol 90 85% 100 103% '■ 121 120 121 J-D Cleveland Elec Hlum 3s j 103% 84% 4 'yyy!g 1960 Hocking Valley Ry 1st 4%s 1993 — '•'^ *63 . —- . Conn River Power s f 3%s A— V " 35 103% 107% 107 'A 107% 1977 Conn Ry ft 106 - : J-J AGreen Bay ft* West deb ctfa A—— A Debentures ctfs B— 60 56% 59% .—..1993 —u.. wiy''./ •yuw 3; y v.: y Greyhound Corp 3s debs^——1959 106% . 59% 1991 3%s ;.y-y •;v : 1977 Gen mtge 3%s ser N Gen mtge 3 %s ser O— ,f 108% 104% 107% 110% 111% 106% 106% , Ref ft impt 4 %s series E debs " 86 106%- *105 P"** L— ————1970 Qen mtge 3%s ser M— 97% V —1976 - mtge 3%s ser K 2'. - y 1952 - 106 *ioi'A 103% 84%, 87 ■ —1973 General 4%s aeries E • . 107 — *111% .111% , 106% Cin Wab ft M Div 1st 4s_. mtge 106 : — * , General 4%s series D ; ■ v1 . 105% 106% 96 v 98% 26 *- 102 :.A 9 98% , General 5s series C ; V'" : 100 11 106 97% 98% 72% 105% 107% v'-r;;*. :';' L.*.y . "•:v M-S Oct 11945 Great Northern Ry Co— ; General 5%s series B— 81 F-A 1st i; 106 -• 87 M-N —1934 Certificates of deposit— Goodrich (B F) Co. 1st mtge 2%s.l965 Grays Point Ternr 1st gtd 5s -1947 35 , .1956 Certificates of deposit— , 92 y8 28 — 2%s ser G—.—..———1974 Conv 104% ■ ' 1st mtge 1st extl 4s. 106 —• • •v G 106% 69% 106 F-A ft Tol 106 102% *95% 130 *102% 131 ' VjV/ 86 t§AGa Caro & Nor 1st ext 6s 118 101% 102 Y.» ' M-S y 71 65% *106% :-y'- J-D 1959 1974 106% 92 y8 *100 : —_ 106% 10 ; -yy^wyy j-j :■ ■'v t A Georgia & Ala Ry 5s__ 34% — 1943 A 1st ft ref 5s 'series A . ;. M-N, .1981 97% 78% *108 gtd 3%s series E——1968 Columbus 106 103% 106 105% 105% 1971 93% i.-; ■*96% 1st mtge Columbia Gas ft Elec deb 5s— 2s ser h._—— 96% 75% • 1975 1st —2000 107% 30% 5s_.—.1952 Colorado & Southern, Ry.-— 4%s (stamped modified\ mtge 3ysS ser G—* 103 'i 98 106 y.i. V* 1st cons 102 106 —1990 f<: — 100% 102% 101 —1964 F— 86% 34% QO Cleve E ser '103% ,3 M-/ 77% M-S - ' »T 62% tACboctaw Ok ft Gulf Oleve ser mtge 3y«s fp-r *106% 108% —2015* mtge 3 Vis cons Gas ft Elec of Berg Co cons 5s..:..i949 General Realty ft Utilities Corp— A4s conv inc debs * 1969 Gen Steel Castings 5%s_ 1949 567 60 gtd—... —1948 gtd —.1950 Short Line 1st gtd 4%s —1961 Union Term gtd 5%s. .—.1972 s f 5s series B gtd.———1973 s f 4%s series C——.i^.—1977 124% '30% 69% M-N 1st ft ref 4%s series D———1962 3%s mtge inc 4%a series A. cons Certificates of deposit.^—... IFlorida East Coast 1st 4%s... 26% 66% IfAChflds Co deb 5s part paid——1943 § ADebentures 5s part paid——1957 C 101% 101% 105% 8 &S; |;| 25 71 102% 102% 102% Chic ft West Indiana com 4s..——1952 Series 125 ';i 107% 266 106% 68% — Series D 3%s 106% 105% 301 . 97% 96% *106 Chicago Union Station— ,».<■; ;v 1st mtge 3'/as series F *1963 1st mtge 2%s ser G .—————1963 St L Div 1st 105% 1982 Firestone Tire ft Rub 3s deb... t A Florida Cent ft Peninsular 5s 122 25 ■'ft;®; Cleveland 102% 117% 107% 92 J-D - 157 *105% 106% 1st ■115 • 22% 16 i, :> * J-D — 121V* 157 102% — 124% 125 *124% '.^VY 1968 1st 1st cons 129 106 100 — 93 J-D * 120% — *155 "102% 1970 1st 98% 82'A 112 2 W 24 ■AWk 8 193 97 M-S Chic T H ft Southeastern 1st 5s—1960 $0 A 105% 107 f/2 , j-j J-D General 5s series B *120% __ 88 75% m - 105% 105% 94% y j-j .*..1951 Cleve Cin Chic ft St Louis Ry— > General gold 4s.. High low , 102% 94 28 *107% 105% 107% J-J Memphis Div 1st gold 4s—-—1951 Terminal— No. , v«--. 13 25 r;-'.'; 28 '< iyjiyyy';; J-J 114 •ii? 23% ' ' 122 113 122 J-J J-J . 125'% 125% J-J A<) Dec 11960 ; ACertificates of deposit...— vVr 97% 82'A 82 t Income guaranteed 5s High Range Since > January 1 • ' >i 97% 82 J-J J-J J-J — 86 102 •.■'J./ M-N deposit—— I ARef unding gold 4s 1934 ."' | A Secured 4%s series A 1952 A Conv gold 4%S„ ——I960 Chicago St L & New Orleans 5s—.1951 Union Get ; * Ohio J-J M-N Sold 1968 stamped...** Empire Gas ft Fuel 3%s— Erie Railroad; Co— v : v 119 106'A 5s v 118% 6 118% 118% of Cincinnati Elg— Jvliet 107% w—m 118% 119 AGeneral 4s ————*.—^——1988 Cine Gas & Elec 1st mtge 2%s Ga Div 1st 5s 1958 Ed F1 U1 (NY) 1st cons gold 5s ___1995 Els-* Auto-Lite 2V4S aebs_._._ .___1950 105 A 107% 8 63% 60 118% F-A cons *ast Tenn Va ft y - *125'A 118% partial redemption——.—1927 tChicago Rock Island ft Pacific Ry— m ; 147 a 25% — 11 :: J-J ; 3%s— 144 i ;• F-A ■ Gold low yyv i Bonds Friday's or Bid & Asked — 62% A-O ref mtge 3%s____—* 1985 1st ft ref mtge 2%s~:.____——1970. Chicago & Eastern 111 RR— A Gen mtge inc (conv)-—-——1997 1st mtge 3%s ser B — —1985 > Chicago ft Erie 1st gold 5s —1982 Chicago Gt West 1st 48 series A—1988 A Gen inc mtge 4'As Jan 1 2038 tChicago Ind & Louisville Ry— ■: ; ARefunduig 6s ser A 1947 A Refunding gold 5s series B—1947 A Refunding 4s series C——...—1947 A 1st & gen 5s series A— .—1966 A 1st & gen 6s series B .May 1966 : Chicago Ind ft Sou 50-year 4s.——1956 Chic Milw St Paul ft Pac RR— >1st mtge 4s ser A ..1994 Gen mtge 4%s inc ser A Jan 1 2019 4%s conv inc ser B_*——Jan 1 2044 Chicago ft North Western Ry— \" 2nd mtge conv inc 4'/2s„Jan 1 1999 Y 1st mtge 3s ser B——— 1989 ,11A Chicago Railways 1st 5s stpd ; ACertificates .* 1 J-J 1st ft. - 105 105'/a *100% 'A 14 - 11 105 105;- J-J . High 103% 105% 106 y4 105 '•VA?'-.-.. F-A Last Sale Price 48% 146% 147 % 147 M-S Low 50 'A *105 J-J York Stock Gxchani* m-m.: Week's Range .■ Interest Period New January 1. NO. High *49% ■ .'Friday BONDS Range Since Sold Bid & Asked Sale Price Period 5 117 Kansas *107% 83% 107 M — 82% 82% A-O 82% 4' 9 v;v 4 16 107 107 .104% 104% Wit 85% . *82% 83% 105% 107 - . 4,39 - *105% ' 107% 107% y ! y, 44:60 84 v 104% A-O-yA- 104% 104% 104% y yy w it- 105% ' " *120% J-J ;*71% J-J v y J-J v •yy-': *108% *110% rM•{•f. mmim'; 2*-' ,;":V ,♦105% J-J: A,J-J —.1961 4%s unguaranteed— ——1961 Kings County El L ft P 6s—«..1997 Koppers Co 1st mtge 3s———1964 tAKreuger ft Toll 5s ctfs.— *..1959 :y. 82% -2%s——1974 Kentucky Central gold 4s — —1987 Kentucky ft Ind Term 4%s— .1961 Stamped —1961 •.--*———— — ' Kansas City Terminal Ry Plain y — . :-yy—• .. 65% 71% 108% 75 108% , .. . , — y;. „ y. —. ' ■ *.. A-O A-o vy M-S mi y ■ • „£■>; 5% *106% 5 187% ■}/: \ . ' 106 — 5%. ~ ■ • : ;• 14 4%, 106% 5 , 119 106% 106% 53 9 49% 54 106 50 104% 106 Lake Sh ft Mich Sou gold 3%s—*1997 3%s registered..— .—.—1997 J-D J-D *113% 115 110 113 115 108 110 *107 Volume Number 4465 163 THE COMMERCIAL & FINANCIAL CHRONICLE -ft,.; NEW YORK BOND RECORD RANGE FOR WEEK ENDING FEBRUARY ft-ftftft. ft ft".',, "Friday B OND8 New York Interest Exchange Last Sale Price A 1st Lehigh S income mtge Coal P & 1975 A ftft,' 5s Deo Low - , 66% . 7 104% 105% ; ANou-conv ■ A-0 105% 1984 stamped F-A. -ft ; 10.1% 99% 93% 98% 96% 98 93 86Va 1954 F-A 1964 „ '***■ y: %'"••••'• „■ • deb deb 86% 1947 Af-S 3»/as 1947 M-S, 3%s —1954 4s__ ANon-conv : 100% *101% 4s_— ANon-conv "deb iV! >>i *101% (v. deb ANon-conv : stamped 5s 1st & 5s Leh 4s A stamped 'ft F-A 86% ; ^ 92 Va 92% Af-N 59 Va 577/a ft;:; 80 . — Af-N ft 75 65 75% 1955 J-J 76 74% 76% 51 67% 78 1958 M-N 757/a 74 76% 102 67% 78 1956 J-J 73 Va 73% 73 Va 1948 J-J 8lVa" 77% 81% 409 72% 83 1940 A-O 92% 91 93 123 87'A 93 1957 M-N 44 38 44 2.050 34% 44 J-D 79% 76 79% 226 71% HOVa 110% 1 109 % A-0 N Y 65 1965 52 62% N Y-Steam Corp 1st 3%s t§AN Y Susq & W 1st ref 5s 1803 J-J 73% 1937 J-J 1937 F-A 1940 F-A :V v'ftv- 29 -ft 1943 M-N 98 debentures 1963 j-j yft..:'".:-:; 107% 106% 107% 1st & ref M 3%s series F 1st .& ref M 27/8S ser G 118% 120 2003 106% 105 104 ■-V 105% *104% 102% Atl Knox & Cine 1855 *118% 119% Southern 3s 100% 104% 1980 4%s —1946 Ry ft 104 | Coll -1998 107 V- 105% 107 % 105 Va 108% 33 71% 75 41 1 39% 42 29 10 29 : 98 ''-'ft 1 ft;,' 97 98% 38 Vo V: 43 2 10 73 41 98 : 43 32% 43 107 ... > 408 108 Va 108 ft- J-J ft;; . ft 68 1 68 . M-S *137'A • 127% 2047 132 120 Q-F Q'A ftftftJ-J 93% 88% ft 59 Va 71 135% 138 138% 138% ft;-," ,120 93 94% 1st 13 coll 4s B__' ser 1954 Manati.Sugar 4s sink fund_.Fe.bl 1957 AManila RR (Southern Lines) 4s 87% 88 Va M-S 105% 108% 109% 110% 'ft- .ft. 16 107 110 Va 105% j-j ; 1975 53 110%-; 2047 108 Va 105 Va 105% 110 . F-A A-0 ft lSft 'ft-ft'-'' ft 106% *103 Va 106 Va 102% 105 57 102% 106% 5 106% 108 ' . 106% 108 ft 110% 105 Va 68 "ft - — 106 M-S 107% 4 110'A 108 ' 101% 101 94% 82 107 . mtge & 120 85 % 157 88 Va 132 107% • J-J 1st mtge 2%s_—_1975: ftft (Wise) 1st mtge 3 %a——1964 89% - -ft 5 127% 115Va 49 • ;.ft, 88'A :• 132 120 5 126% 127% Q-J 103'A -100% 5 48 ft _> 132 Q-J ft'. - 82 108% ft ".,' ■ftftftv 1 'ftftft .'' 70 138 , -I960 31 108 5 103% A. 138 M-S ft 2047 4%s_ 103 A-o A-O Northern: States Power Co— Jst.-mtge 2%s—>»—^i:i974 Maine Central RR 4%s ser A. 90 % 71% ^ 41 ' . 86% 106 % 106 % ; M-S . _ 2047 impt 4VaS series .A- trust 106% — 15% 106% 26 89 102% Co— Ref & impt 5s series C Ref impt ;6s series D 4 87 Va ft'1; 0^mm' ft J-J I960 registered Ref & 118% 119 4s 1st 88 M-N Northern Pacific Ry prior lien 4s__1997 y. 4s registered 1997 Gen ilieir ry .& id gold 3s Jan 2047 113%. 110% 113 104'A 104% St Louis Div 2d gold 3s Div Bost A-0 .2014 Norfolk ft Western Ry lstigold 4s_1996 North Central gen & ref 5s_, 15174 Gen Sf ref 4%s series A—>— .1974 105%. 1077/a 113 A mtge 4 VaS series CA AGen mtge 5s conv inc^ . 104% 105% —2003 West 1st Louisville & Nashville RR— ' Y Norfolk 105'A 107% y'fty 5s vATerminal 1st gold 5s f § AN 107 ; 106% — *105% 106'A 105% M-S gold , Niagara Falls Power 3%s 118% 118% A-O 1969 : Louisiana & Ark 1st 5s series A 4VaS K;; J A General # 118% 120 V — *107% F-A Louisville Gas & EJec 3 VaS—1966 91% 136% ,_1993 26% 12 89 74 106% 29 86 133% gold gtd 4s 81 110% 21% 120 13 75 65% 3 • 23% 12 106 62% cons 65 ' 22'A 12% 106% M-S N Y jQueens El Lt & Pow 3%s ft- *107% ,ft 22% J-D *N- Y & Putnam "1st .107 ; MS M-S 1355 Power & Light 1st mtge 2%s_1975 69 118% 119 *118 MS - 110% 60 MS 1949 ,—>-,—--,-1949 4s_ M-N • 'ft 54% 136% *133% % 4s - 51 89 89 89, V , r'Jjfa M-N Lorillard CP) Co deb 5s—1951 3s ft A-0 A-O —- 59 69% ft; 67% . 6s 70% 57% Lehigh Valley Terminal Ry-ext 53-1951 1st 50-yr 5s gtd 1965 Liggett & Myers Tobacco 5s 1951 Little Miami gen 4s series A 1962 Long Island unified 4s„ 1919 gold 4s 77% % 12 63'A 61 ; 62% - Af-N 2003 Lex & Eastern ref High 70% 78 Va w—■ 56% *54'A 2003 2003 — .,-2003 stampecL— Low 34 74% 73 Va 1st 4s— 1954 tAN y Ont & West ref 4s___June 1992 94% 51% -60 ■v"' '* ; 74 74%. 73% :.:«Alst,A ref 4V28 series of 1927 1967 fAHarlem River & Port Chester— 87 ' 88% 94 Va | 98 * 6s— A Debenture ft,; §A2d Guaranteed January 1 certificates 3%s deb AGeneral stamped modified 4s Range Since Sold No. *78 Va SACollateral trust *97 j-j ,-2003 ftftft 4%s registered— 5s •' 98" —1950 ext modified—., 4s registered 4%s stamped modified Bonds High 73% deb Debenture AConv *97% *97 .'vF--'.;- F-A ___1974 gtd 5s__—>.1954 Valley N Y 4%s Valley RR— Lehigh ' —1974 Val Harbor Term 4s 5s_„~ .stamped Lenigh /?•;. 1964 __ ref sink fund Friday's A-O " ft.. or Bid & Asked Low 76% 68,;. 105% 66% > 10 66% 105% h:.: .. 1st,& ref sink fund 5s Last Sale Price High ANon-conv 1970 Valley Coal Co— 1st & ref sink fund 5s Interest Period Co.— ser Lenigh Friday New York Stock Exchamx* January 1 No. High Low Range Since Sold fN Y New Haven & Hartford RR— reg Navigation mtge 3V2S Bonds Friday's "ftftft 'Lautaro.Nitrate-Co Ltd— V or BO N D 8 Bid & Asked ftftft ft?:"ft ftftftft' ft ;ft ■ 15 Week's Range Period Stock 923 ft';; ft 95 1959 McCrory Stores deb 3% —J.955 Metropolitan Edison 1st mtge 2%s_1974 Metrop Wat Sew & Drain 5%s -1950 *§AMet West Side El (Chic) 105% 27% JOgdensburg & Lake Champlain Ry— 103 Va 26% 28 Va 106% 101% >102% 103% 4s__1938 28 Va '.A 1st guaranteed 4s— Ohio Edison 1st mtge 3s Jack 1st Lans gold -Ref & & J-J Sag 3%s 1951 *100% 1952 3VaS— impt 4 '/as series C -*107% —1979 l. 107% -v * 107% 105 Va 105 Va 111% 111% Midland of N J 1st ext 5s—-.1940 105 Va 107 110% 96% 93% 95 Ore Short Line 1st 112 Va J-D Oregon-Washington RR 3a ft •v*>r 105% 5 101 Va 104% 104% 104% •' • 100% • J-D 101 101% 101% ft". 4 101% 1017/a .39 105 Va 107% OO 101% 101% mm mm A-0 gold 5s—..1946 108% 101% *100% 103% ft; J-J A —1960 ser 24 Va 107 V* 5 *101 Va 103 • 27 ;.; 26 105 Va 105% ftft J-J -1940 25% *1081A 108% 105% F-A gold 5s_ -1940 cons -.Guaranteed etpd cons 5s • 97 ft;. 24Va 25% M-S A-O 1st Michigan Cons Gas 1st mtge 3%s_1969 A .-1948 ._1974 mtge. 2%s .-1975 Oklahoma Gas & Electric 2%s__ -1975 Oregon RR & Nav con gold 4s —1946 Micmgan Central— 100 % ■ 105% 106'/a V; Minn -St Paul A Sault Ste Marie—- ;i|r- A 1st mtge 4%s inc Jan A -1962 106 82 .97% J-J J-J 4V2S series D— —1978 adjust 5s series A—-Jan 1967 J-J - lien Cum yft;ft'-:ft83Vftft J-D —1962 4o-year 4s series B__ 105' 106 J-J ' 101% 106 28 84 88 97% ,97, IOOT'B 97, r ' ftft 93 110 ft:ft26''fth ' Pacific 97% 'ft'. 40 , 105 Va 110%, 98% Coast Pacific Gas 101 ft 9.1% v.. 94% 96% 97 A-O ' 98% 100 98% ,. *»;. 187 • 94' (Missouri Pacific RR Co— A 1st & ref A General 1st & Alst & ref A 1st ref A series —1977 G Co— & Tel .3%s 1974 Montreal J-J Tramways 5s ext Morrell (John) <8s Co 3s debb__ Morris A Essex 1st 1951 1958 gtd 3Va« •, 92% 92 F-A 101% M-N 93 *106% ft *102% 1 — 91 ' . 1® 5 1955 2000 J-D 73 72 Va 73 1955 M-N 88% 87% 88% 39 M-N 81% 81 81% 35 M 5s Constr M 4%R series A. series B^— J-D Mutual Fuel Gas 1st M-N gtd 5s 1947 ft —1960 M-S — *107Va 110 __ 83% 106% v.- .109% — 4%s 5s 1st 3S_ 1954 Newark Consol Gas cons 6s 103 1 105 Va 106 »/a :_1965 62 New J Junction RR 1961 1986 — New Jersey P & L 1st mtge 3s Orleans Great Nor 5s A ft 108 107% *106% 106% 107 Va 108% 107% 110 series of deposit B 'ft A Certificates of .deposit ftftftA 1st 5s series C ACertificates • A 1st of N Y Central RR 1954 of 4s deposit series ft, Ref & impt 4V2S series ; <N Cent A Hud River 3%s A_ A F- A A-0 1997 J-J 1997 1998 F-A registered Ref 1998 mtge 3%s series ser D 1980 N Y Connecting RR 2%s N Y Dock 1st Y Edison 1st lien & 1975 E gold 4s ref Y,& Harlem J-J 104% 99 100 100 90% 2 * ref ft' A-O 103% A-O 105% 105% 106% 1948 J-D 1949 F-A 2000 1st & 109 108 Va 109 J-J 92 106% ... 107 V 104% 105 Va N series A series B Y Lack & 2043 series A For footnotes see page 924. J-J 1973 M-N 1973 West 4s 4%s series B M-N 92 106% 94 y■■ • 83 V 139 139 137 139 ; ft: 17 ftft 15 13 7 . 131 133% 106% 108% 107 107 106% 106% 106% 104% 104 Va 106% 106% 106% 104 V4 106% 103% 104 105% 105% 1971 104 104 105%, 105% 1963 — G 4s H cons guaranteed guaranteed 4s 1949 1953 1957 1960 —1963 4%s cons Series J cons guaranteed 4V2S—1964 !;T Gen mtge 5s series A— 1970 V Gen mtge 5s series B 1975 .Gen mtge 3%s ser E 1975 Pittsb Coke & Chem 1st mtge 3%s_1964 : Pittsburgh 3%s Pitts Consolidation 23% *19 22 23 Va 25 20 ; 106% 26 21 1st mtge 1st 4%s series A 1st mtgq 4%s-series B 1st mtge 4V2S series C v Pitts Young & Ash 'F-A *106% J-D . *116% F-A *127 '.V: & M-N *127 105% 105% i 95 1 *103% —1958 J^D ioi" A-O 106 101% F-A l,»t gen 5s series B 1st gen 5s series C 1962 1974 «.st 1977 J-D : 103 Va 105% : -iPittston Co 5% inc deb 107 Potomac 4%s series D— 101% — Wlif 20 :. 12 101% 101% 100% — 104 r,-. 9 105% 106 105% 98 Va 102 98% 102% 98 Va 102 105 *105 Vi *125'/a J-D ' 104% : __ 100% 103% — 101 Va 101% A-0 J-D 109 100% — 106 106 138 105% 103 Va 104 104 137% 134% 138 J-D .—1959 1960 133 % 138 A-O *103% 127 Va 126% 126% * J-D 1st 4s ser A—1948 : — A-O M-N 121% 127% ; V137% 137% J-D J-J 1965 117% , *115% F-A 105% — 121% 121%,; Af-N 1950 4%s series B 104% 105% 105 % 1950 debentures Steel 1st mtge Pitts & W Va Coal— u__I ft 105% HOVa 108 HOVa 109 ft: 1st El Pwr 1st M 105 : *127 " *117% — (AProvidence Securities 4s Terminal 4s 118%' 118% tAProvidence 115% 115'A Public Service El & Gas 3%s __ *118 Va 117 118 Va 947/a — 95% 61 90 10 97% 95% 100% 1st & 1st & 1st & ref mtge 3s ref mtge 5s ref mtge 8s ; J-J 1977 1957 101% 101% F-A 1956 1968 1972 2037 2037 99 101% 106% 106% J-J 1966 mortgage 3%s *118% 121% ft.; 100'A 100'A —1964 3%s *115 V4 __ V 133 % 133 Va 106% 106%: * 105%;; ■ 95% 105% 3 1974 196? __ Mtge 4s Mtge 4s 107% ■ 103% -ft 101% 7 111% 105% 11 93% 107% 12 1967 2%s ref 2%s_ M 135 Va 128% 180 - • 110'/a llO'/a M-N 2043 89 ■ 96 89 2 ft'-ft 1966 92% ft 134% 106% 104% 105% 1977 1961 ref ,2%s—— debentures Series I 100 vftft 00 ftft; ;• 95 ; ' : — 105 Vo 114 Va 107% 95 ftft- • 7 ft 104% 102% 106% 100 - 94% :: 104 104% 103% 104 1965 IOOV2 107 ,106% 106% *104% 105 J-D 105 gold 3%s 25 90% F-A 3%s series E 130 ' A-0 3%s series D 396 94% Bft„1975 Gas El Lt H & Rpw gold 5s Purchase money gold 4s 98% *94. ; 1951 ser — N Y N v ft; F-A •'< 96% *98 Chicago .& 8t Louis— mtge 3%s & Series v 100 190 113% 114 Va ft F-A York 99% 139 106% 1974 Pittsburgh Cine Chi .& St LouisSeries E 3V2S gtd gold—— Beriis F 4s guaranteed gold 98% 98 98 97% 128 133% 76 Ry 1st s f 4s_——1937 ACertificates ,of deposit ——— Phillips Petroleum 2%s debs 1964 95%: 102% 101% 102% F-A 1998 1998 Ref N U J -J registered 3Vas ... • A-0 Mich Cent coll gold 3%s New B Electric 1st 101 89% ' *100Va 103% 2013 3%s 98 93% 124% 100 94% 100 100% 102 2013 registered 1st gold 4s— series Series V 1998 Lake Shore coll .gold 3%s 3 %s 96% - Ref A imDt 5s series C Y ft ft deposit Wash 5s 1st and ; 101% 98% 1950 ft-;' A 1st 5%s series A ACertificates 100. deposit of . 127 Va 27 135 % 105% 106 (5. A Philippine 92% 97% 1950 • 7 46 ; Marquette Ry 3%s ser D—1980 Phila — " - 4%s series D ACertlficates *81% 100% 101% 130 33 A 134'/a 133 ,—1960 gold 4%s 3s V 127- Apr 1990 Pekin Union Ry 5%s_—-1974 Philip Morris Ltd deb 3s— 1954 ; 1984 E- series C Philadelphia Co coll tr 4%s 108 108'A 108'A 5s 106% 2 138 Va 139 134 Va -1981 ext 4s General 108 109% 110 |New Orleans Te?as A Mexico Ry— SANon-cum Inc 5s series A—1935 107 2 127% 128 1968 B General ft, —1952 _ 105% 106% 106% 4s Phila Bait & —1953 ACertUicates Eastern Pere 4%s A 1st & 114% *108%. A- ' 104 13 , 111% Peoria .& 118 107'A 107% 103% 118 ft 106 130 130 133 103 % 118 "-ft -- ft 3 ' 106% 106% 107 97% 103% 112 Va .-ft ft.; 3 & ; 106% 106% ^Peoples Gas L & O ref 5s———1947 New Orleans Term; 1st gtd 4s 1st ref A imp A-0 1 111 111% 118 1983 N O & N E ft - ft: 135 Va 125%. 126 Va 103 1974 New -ft.'ft'ft1 '7 v,107% 107% 105 Va 105 Va 111 126% 126 % V -ft;., ft 125% ft. . .107 112% 112% 1952 gtd 1st 4s 105% 111% ftftft.l 112%.112%. *103% ft- 1985 99% 103% 103% i 115 OO CO 120% 3Va.s ser F-— A Income 1945 England Tel & Tel 5s A gtd 4%s series B 1st 105 107% 4 108 ' 105 1 ft ■ftftf"'':'' 3 %s————1952 Peoria 1945 V England RR gtd 5s gtd 4s A Consol N 108 111 107% — .ft.... .Gen mtge 105% -106 Va 1948 JANew mtge M-N < —1965 series A series Gen mtge 4%s series 105% 105% 111% 107% 107% 104% -- .Conv sdeb •Nash Chatt &,Bt L4s •series A—-1978 110% 41 ; 115 119% 110% 107% 37 , 105. 105 108% . General Steel *104'A ft - — General (ANaiigatuck RR 1st gold 4s ® ftft;; gold As .——1948 4s sterl stpd dollar——May 11948. Cons sinking 'fund 4%s_——-I960 General 4 %s series D— Na„ional 111% 111%,. 107% 107% Consol 106% yft ; is \ ~ Pennsylvania RR— ,89 'A tft:79%; ft." 110 7 v 109 Va 109% 108 .'ft ; i - ctfa—,-1952 A-O 74% 86 : 108% *110% 111 ftft-'ftft®—..'ft• J-D 103 71% 119 ■110 111% -ftv-ft1 J-J m-S .. ' r1955 Mountain States TAT 3%s—;—1968 Constr ft 4, M-N Bs.1949. 1st mtge*'3s—1975 3s >8 -TE debentures^-,,——--1965 101% 102% , J-D Pennsylvania Glass Sand 3%s —1960 Pennsylvania Power & Light Co.— iV? 106% 100 ft® J-D 1960 3s B iGtd As series K trust 93 106 101% 101% ' * ft'ftft" 9 — . ft:-' __ •ft: 110% 110% J-D 1977 1985 Pennsylvania CoL M-S J-D 1979 N debs__ inc debs-— conv : *108% 109% .'(• . Pennsylvania-Central. Airlines— : Moh'k ArMalone 1st gtd gold 4s—1991 Monongahela Ry 3%s series B—1966 f J-D J-D..... ft *108% ' tPaterson & Passalo G & E cons ————1949 A 1st A ref gold 5s series EL—1980 A 1st A ref 5s series I———1981 -ft' 1971 f gold 4%s s Panhandle East P L ——1978 AConv gold -5%s— J-D 1970 L ser 2%s *100% 1007/a * -I960 ref M 3s series M Tel Paducah & 111 "1st jf series ref mtge 3s & Pacific —1975 5s series F— 5s 1st —1965 ; ' Electric & ref M 3s 1st & ■ 5s series A 4s_ 1st 1st A ref mtge 3s series J 1st .& ref M 3s series K '98% 113% •: f„ Co 1st & ref mtge 3%s series I ,96% 104% . ft®ft -ft- .; ftftft/ft;- P 84 77% , 117 r , Prior lien ps series A—i Prior J-J • 1991 199Q Missouri-Kansas-Texas RR— ,i 1971 ser A__Jan AGeu mtge 4s inc ser A Mo Kansas & Texas 1st 4s 106 106% ■ Af-N *113 40 Af-N |J-J J-D 397/a *108 Af-S J-J — 40 110% 110% 162 Va 162 '/a *245 Va 32 40 — *110% 111% 109 108% 110% 110% 160 162 Va 250 250 THE COMMERCIAL & FINANCIAL CHRONICLE 924 NEW '.•-."V-V-^pPpyyp-'ppp: Friday Week's Range >> Last or Friday's BONDS New Exchange 8took York Interest < Sale Price Period V .• PP 'V '■■■P;;.;.,y\ .T/VH ,-**•. • Low BOND RECORD February 15 ■ BONDS Bonds ' Bid & Asked v, YORK Range for week ending :P;Pp: Monday, February 18, 1946 Range Since. Sold .//No. High v.. New York Stock Exchange Low Friday Week's Interest Last Period Sale Price January 1 Range Friday's or Bonds Bid <fc Asked High Low Range Since Sold January 1 NO. High Low ■ High " .—...1964 Quaker Oats 2%s deb J-J ' *104% 105% •1", ■; Tennessee ist 106 aV *__, Revere Copper & Brass 3%s JJARio Grande West A 1st Rochester Gen coll & cons Gas Elec & 4s 1939 ' ' 103 ; 84% M-S 1977 3%s series H 1967 M-S mtge 3%s series I 1967 Gen mtge 3%s series J 1969 1934 Af-S Af-S 1949 1941 J-J P:P j-j 1st 4%S Ark & Louis tARut-Canadian 4s stpd li A Rutland RR 4%s stamped 109% R.-, 109% 1 69 % 70% ->19% 22% *134 105 129% 134 P 108 1968 108% ' 11 •107 108 2 142% 151 80 105% 105% 105% J-J . 151 151 J-D 1985 32 105% ; i7 105% .107% 107% Af-N 1 —2000 E 105% 108% 105 F-/t A-O 108 104% A-0 lyOfe ser 104 'V :PrrP:P:''• A____lyb0 gold 5s 3%s Tenn RR of 103% 106 105% 64% 19% 18% 20% Trenton 22% 22 22 24 Tri-Contlnental Corp & Gas Elec 1st gold 5s 3% debs 104% 93 90% 93% 207 88% A-O / 60% 56% 60% 833 51% 60% 103 V2 104% 100% 100'/a 110 110 105% 106% 110% 112% 105% 105% J-D 1960 Jan 1960 Tol & Ohio Cent ref & impt 3%a__1960 Toronto Ham Si Buff 1st gold 4s._1940 74 2 J-J Orl 3%s__1974 New Ry 1st ref 4s income 5s AAdj 108% 108% 109% 109% 70 1st M 105% *105 ... J-J __—.1985 5%s aeo Third Ave 108% •. 2019 Pacific-Missouri— Pac *103 , ref & Af-N ■ ■ » Pacific & Gen , M-S " Smith 3a debentures 3s Texas 87% Ft & .1965 Louis—: C-._ ser "i P ■ • *125% mtge Gen I 115 78% St oi imp 27/aS series D Company Texas Gen ?}AR 104 107% w- 83% ■ Corp— 4%s series D mtge A-O 'l/cxas 108 Assn imp M 4s Ref & 107% 112% 113 J-J 1949 A *104 Af-N __'96i) 1st gold 4s trust RR & Texarkana 107% 107% 1 i mtge pipe line 3s___ Ref A-O Transmission-l¬ & Gas Terminal Reading Co Jersey Cent coll 4s 1951 Rensselaer & Saratoga RR CoGen mtge (4.7% for 1945) due_1975 ||T 104% 105% __ '/ J-D ■, *103% 104% , - J-D f*;. ; *100% .• Af-S 1949 1960 'o.«. . * — .V'"' M,- >' - 105% 106 '":J: ^ , *109% V,- y F-A ■ ,,, 64;y 93% ppypp:p.'' :''3" S y- Baguenay Pwr Ltd 1st M 4%s 1960 1947 pPp\-pP: A-O Bt J-J Jos Grand Island & Bt Lawr & Adir 2d Bt 1st 1st 4s gold 5s 1990 gold Gs L A-O "P 1955 / 100 J-J ; lien 4s ACertificates A Prior lien of M deposit of y Union 103% 105% 98 ' V. 95 98 97% 99y4 100% 70 73% 576 72'% , ■Wi 99 64 ■ti? 81 68 31 68 1,063 46 64% 70 X- bond 4s A 2d 4s 73 1978 76 Af-S 76 -78 Ppr6PP76.:P 51 50 52 51 deposit stpd 49% 51.; AGen ref & ctfs_. gold 5s 119 -Nov 1989 v : 1952 v & Duluth 1st cons gold 4s.l968 *}ASt P & k C Sh L gtd 4%s 1941 8t Paul Union Depot 3%s B 1971 v & JSeaboard j A-is E N 1st gtd 4s • t j - ACertificate of 6s ACtfs of ACtfs of f§AAtl k (Chemical series i, dep 1st ACertificates Seaboard Air mtge Gen "; i 4%s tASeanoard All. Fla 6s (Joseph E> 105% 118 & Nor Ala ,y __ 51 RR Tel $ 19% 20 F-A J-J 104% J-J 106% 1963 *75% •• j •yv.y/ "-ii.l 111% . 106 4%s 1968 Af-S 1969 1st ,! Pacifio1 RR mtge 2%s 3%s series 3%s series tf.uthern ser Devel & gen Devel & gen Devel & Mem Div o..,'r P 5s 1st gold Div 1st '■and Oil '•Indard ni of Calif Oil Oil Oil ^rior N 102% 73% 102 : Gen West 78./V 20 A-O 106 107% 109% 1st 4.« .V ! Penn Power Apr stpd 94 102 V* 105% 67 104 1 144% 104 28 1st 1967 4 %s 1966 v J-J Inc ser 1960 y 66 F-A A 2014 ..1961 V. - / 105' 2361 105 105% 104% 4 v 7., ', 1st Co mortgage 3s S 1st B of 4s 1980 vi V 89' — A Certificates of deposit .1968 Public Service 3Vis 1971 — 1 __ * 84% 40% 108 WEEKLY ?°«".Colt„o?e!in Z In the - I/eb, security, whether stock 98 V,, 11,;. i'— 85% v89 843l» 87% 37% 44% 36 Va 107 ' 108 109 ' • 5 . 109 30'/a Deferred delivery sale not Included In the year's range, d Ex-Interest, e Odd-lot sale not Included in the year's range, n Under-the-rule sale not Included in the year's range. rCash sale not included in the year's range., y Ex-coupon. :v-.V'..o.1.?.'-- •>.■ v;;/' v,;;., ,,V: %v a Vew York V F §Negotiability impaired by maturity. tThe price represented is the dollar quotation per pound unit of bonds. Accrued interest payable at the exchange rate of $4.8484. 107 • tCompanies reported as being in bankruptcy, receivership, or securities assumed by such companies. or •Friday's bid and asked prices; no 200- reorganized under Section 77 of the Bankruptcy Act, 105% 106 M; Motors lit !, y y;; P <P y sales being transacted during current week. " ABonds selling flat. > ' ' Investors Iiic Mfg occurred Great alabama Power preferred $7 Bros Co see ~7% . ~6% pege 11% Feb Jan 30% Jan 4,100 5% Jan 13% Jan 22% 7% 5% 39.500 Feb 18% 21% 5% 20% x9% 131 15% 20% 9 Jan 2,600 V 1,400 900 ' 1 6 6% 131 Aluminum Feb Aluminium Industries _ 929. * Ltd . common. Jan 19 Jan 22% Feb American Book Jan American Central Jan American Jan 6% preferred American 21% 800 20% Feb 9% 1,600 8% Jan 9% Jan 133% Jan 128% Jan Class 116% Jan 118% Feb Class Jan 109% Jan American 12% - 750 70% 5,200 118% 119% v 63% 300 74% 115% '• Jan Jan 400 24 Jan 24 50 21 136% 142 1,100 •: High 76% 121 Feb Feb Jan 24% 24% • 24 ■ 116% 25 Va Jan Jan Jan ■' 14 % 110% 5 % 4% 5% 3,700 20 5 Jan 4% Jan 61% Jan 65 19 Feb 22% Power Jan Jan 54% Jan 63 20% 19 21% 2,400 _?5 52% 52% 52% 750 50% 49% 49% 100 . & 63 J , Mfg class B. 107 " 74% * 1 5% Feb .Jan uight— A A 290 "I ' v Range Since January 1 ..Low Hkth 25 Co Cities Convertible 200 60% Low 100 Beverage common 117% 118% 56% - Jan 5% 108% 108% 60% Shares v for Week * common. Jan 118% • lo - Salea Range of Prices 100 3/4 17% 22% i pfd * Mfg___ 5% 15 Feb ~' 60 Week'« Last Friday Exchange common Goods 7% 15% 132% Curb prel erred Aluminum 108% * •;. "-,b York Aluminum Co Jan ll,3oJ 16%- • Par . j~6% year. . 1 k$. 15 Sale Price 22% . 5% 50 preferred common For footnotes Jan , 17% pret-rcd Ai-es At Fisher common Allied Int'l Investing S3 conv <'hed Pro.tucts iMtrhi— 9% 27% P:. ■ 20% j High V ' 5% ____10 Appliance... Low 160 6% 20% '•O Southern Co 6% february STOCKS— 700 "T for the week beginning on Saturday daily reports of the Curb Exchange itself, and is intended to include during the current ending Whe0 ,eBtot the New York Curb Exchange Range Since January 1; ■yppprt S 29% 18% 50c Electric 29 on New Shares 10% J preferred.. Mr-Wa\, AItorfer complete record of the trans actions 15, 1946). It is compiled from the for Week High 2 <NJt Corp Mabama c% : 9% 8 common convertible 29% ^v Loto i c common Associates $6 A -J Converf'bjp 60c 30 B Mfg nr. 10% a vr VIreon PaT RECORD Sales Range of Prices warrants ruiumuu '■ r YEARLY a Week's East - Co '.-•.awoith AND bond, in which any dealings have Sale Price Supply Mig class '-lass or Friday Exchange 0-.v ACF-Brill O Curb / • Aero T O C K S " K-'iie furnish y VV: ■ IP 67% range for week • ' we ,, ' tikeJSVuXVa,"coSiSJ'th'i'rSS ?o" hf&X."**• „ « A following extensive list 9^ and ending the present Friday (Feb. every „ No'account £ . , ,103%,-!'" NEW YORK CURB EXCHANGE 1 y . 106% 108 y' 104%,105%; ;v 117% 117%- . .10 • o 108 *109Va 109% . 5 " p <42 J-J " , 87% 84% 40, '— 91 .,87 i103% 85% ' A-0 :i; 102T» 105% 94% , 66 - '118 , ' ,109 :,v' V ^")^r74:,^':f 90% . - ' : 104 108 28.;;^' 104% .'108 — ' , 116% 76 107% 108 " ;J 105'A 87% M-N ; 108 . M05 .- . ' o- ^ 110% :c'-Sf|;29 t•j>-. 105 89% *109% 110 — J -J —_ Wisconsin Elec Power 3%s— ' 107% 107% 57 . ; 94% ^ 88% ■; J-J /' 106 «, 92% -iVv; 92 . V :^*103% 103% .... A-0>, .'s'v'i., 1936 105 106% - % 6 106% ; 105% 105% 106% M-£ J:% ;. v 116% ; J-J 194f deposit. 110% 108 V;: • 105% • 104 ,106% 107Va ■ ' 41 105% V;: 105 J-J -V38 " 109% 110 109 / M-N , l 107% '/.t^ 107 110 Af-S , 1958 1st 4S- Central Certificates Wisconsin 103/ 105% 107% 107 % 1 r-'f:-:. *105% 105 105% • 33 / & ^ /••"._ 68 4:;'/.. , 116% 116% Vvi :VV 3 V-/; 115% , Af-N 1960 lASu & Du div & term 1st 4s 107% 63% — "' •— —/?.^;64%i 102% 106% 106% - Jf-3 108% 103 1 . 107% 110% . ' — .■>*104 J-D i 1951 11 " MV 103% *— — M-S 135 107% 107% 107% Af-N 126% 11 '•:V- P-iPP. ' - 18 1^.. ' 1950 5s 1951 A 1063/4 123% 123% 128 50 v •" — 104 V'—" - 66% *106% XV'UU M-N - yyy?'':/* 65% 104% J-D v, 97% f:K: 106'% 105% ' :^;V:100%; 26 — ' May I; 2361 JA Wisconsin 117% fppk ....*.19 107% 107% *103% ;*67 69% i , 1st 4s guaranteed Winston-Salem 145 107% Pp .; .107 ■P .-w- J-D \i; 1959 - 'I 97101". ; >1^f30 ,Vv 93^ 97 V» 100% 101% 107% A-0 Co— 5s.—. Wilson 104% 23 135 *108% • 107% Apr 136% 117 ; 123 Vt 135 A-O —.1961 106% 106% ' 7 , 105% 106 v . ,, J-J 1952 Wheeling Steel 3% series C—.L—-1970 106% 43 126% 126% A-O J-J 103% 144% 145 ■■ 96% .. J-D I;- Wheeling St Lake Erie RR 1949 Gen & ref M 2%s series A——1992 103% 32 £ 105% J-D 4s——— Telegraph gold 106% iPpP/(•■■ 126% "■ / 101% 103 s/8 v i - 110% 111% 106% 113 3 ' 100% 100% . ' 101 A-0 1950 gtd Registered 106%' : / .{ v A-O '/ F-A Westinghouse El St Mfg 2%$ 104% ■' 104 vVv-.—— P.- 112% 113 ' F-A . A—1970 ser 3%s series I Union 30-year 107% 137 PP 106% 103% ' P f Apr 1948 — Pacific 1113/4 104 ./i 75 106% 121 1950 V ' 103% 24 "•%;A' U P^pA •111 112% > F-A Q-Af 3%s mtge 25-year PA:* 'y •*. : Af-N M-S bs Maryland rr 109 106% aebs 104% ' 'V'l: f 106% *103 % MP Funding 6c real estate 4%s '. 106 ' *119% S'As—aL..——1955 Central Ry Western 105 % 123 V4 debs 3s 103% J 3.7 •115% ' gtd gold 3%s_.2000 ref 1st Western 106 r; 106% *103% 105 ip i' J-J i990 2%r debs Co 1958 1st mtge 4s._—-1955 Westcnester Ltg 105 %' 104% A-O debs 105% *114% . J-J „ Washington Terminal 2%s V 102 A-O 195T 2%s 1 ,.103% 104% 103% Af-S 2003 — Western •102%-102% -P .. & 21% 104% 105 %>' '• 205 108 109 -PPb, 161 % 1950 deb 3%s " Petroleum RR Washineton 104 '•}; = 1st gold 58—1949 1st gtd 5s ■ • % 5s_. ^ F-A Baking Co 5%s debs (subordinated) L———1970 • J-J 1994 H-old 3% J Corp B Coke & 5s cons Warren 108 106 % 106% yy- J-J Southwestern Bell Tel 2%s debs___1985 •Spokane Internat 1st gold 4%s—2013 Svhray series Coal Warren 90% 104% 15 105% 106% 1950 A 110 104% Ward >; j'-l"1 ..I" '-X' .1950 series 6%s gen T.nilis 8t s Walworth Co 102% vf. 'iPPii: 85 y- 104% 105 % J-J .1996 6s 106% 107% 7 WP %.;> y. gold V :> 109 1961%. cons 4s f 4u series A.—1955 g 48 cons West Shore A-O 1986 C___ 1st Ry Af-N i Co— A B____ 103% ' K mtge 4s inc" ser A—..Jan 1981 A Gen mtge inc 4%s ser B—Jan 1991 1st mtge 3%s ser B —1971 101% 19% • P'-'i ■ 111% 111% 105 I 1950 4s_y M-N 1981 1st. '.12 *104% 107% "A Jlf-S 81% 80 10 ■ V; 107% 107 % - •105 Gold 4%s Term 106% "vy-yiB/ 103% 103 A -V Af-S AGen 106 % 106% 106% *129% •• F-A Af-S Gold 4%s 103 J5 A-O 1955 Wabash RR Co— : 104% 104% A-O J-J 1985 ... 103% 103% 10331, :■/, M-N 1st 81% 99% 41 y yy 103% 103% *105V8 105% J-J 1941 v 104% .. 110 28 P J-J • .—1979 -•/- Co— 105% 104 ■':MM Mi %PM'ippM Va & Southwest 105: 502 *IO6V8 106% 1965 gtd 5s 102% : 27 108% 109 1957 80% 110 • 89% AT-N 1961 V (Oregon Lines) A Pran : :,74% 87 % ^1977 ■San V 74 78 Tel Co— & PIP.15P; ." 104% 61% 61 ioo% ioi 1964 2%s debentures Southern debs Virginian Ry 3s ser B———~»~1995 73 20:.' F-A 1954 debs ; Pacific ': " RR Va Iron 60% __ Bell M-N 104 103a*a A-0 ' 3s 104 A-0 1990 104% 129% 128% *109 & Sons 3%s_1965 debentures Gold 122 105 V- 3ocony-Vacuum Oil 1st 4%s 132% 78 ..^.1935 t8ASileslan-Am Corp coll tr 7s Oil 2%s debs__ Joutnern 105% 132% ' Skelly 3s 63% —. 88 ctfs 105 >/4 105 v* J-J Virginia Electric & Power Co— 1st & ref mtge 2%s ser E—1975 "54% 56 v; wi Union Oil 2%s deos 2%s sinking fund debentures 4ourb 58 56% " >V Shell Couthern Cons '/ 101 A J-D 1947 Universal Pictures 3 %s debs——w*1959' 40 Co— A 16 103% 104 f 105 3a 103% 38% - I 77 wi ser grant 4s Biscuit 3%s Vandalla 61%' *58 P"?-: deposit RR A ser —1970 *33 yi V ^-*58 y'.LW,y ° 1933 : 1 J-J 104 fPP'PPP v RR—>•/■■■%'V land mtge 3s series B United 52% •58 1945 gtd 4s of Line 4s mtge Seagram 59% Bank) (Guaranty Trust) (Chemical Bank) dep Birm 1967 - A-o . 52% 122 ■"W3 A debs debentures 27 ' 112% 112% y ' A-0 ' Ref 90 Vi 128 dep 3s Af-N 1975 iy4o 5 *106 Vis —1959 ACtfs 1st V; 100% 101%: *132% dep (N Y Trust) cons Calif Paclnc & .1971 ' deposit ACtfs of A 1st :. 195G SARelundmg 4s of v 77% *112 - 1989 Line Ry— stamped 3%s 5s P 34-year 3 %s deD—.1970 35-year 3%& deb ——1971 78% 45%' 135 Air gold Mo 2%s 96% 88% 1990 A series 119 • 96% : v Bt Paul Bcioto of i 1989 IA 1st term & unifying 5s of tr • 76% mm.*, . certificates bond inc 2%s 73% ' Co coll & Oil Union 1st ISt Louis-Southwestern Ry— 1st Union 100 "V *100% 101 M t§AUnion Elev By (Chic) 2 . Electric 1st 93% 100 V 71% J-J - 4%s series A ACertificates of - P1''. . t: 1950 deposit w J-j'pP 1950 ;//> series B 5s ACeUificates ACons A ser 32 __-y 97 : 1 U let Louis A Prior *102% /' V ptPi.LT.iP J-J V 1990 Rocky Mt & P 5s stpd 5&n Francisco Ry. 104% 104% v>,;. ■ t 50% 150 47% Jan 1 9% 8% 9% 3,100 7% Jan 10 Jan Cyanamld Co common..—10 Foreign Power warrants- 54% 50% 54% 4,100 47% Jan 55^8 Jan .■ Jan American & 04% Jan 48 Jan American Fork 48 Jan 60% Feb American Gas 14 Jan 14 Jan 4%% „ & & preferred Hoe common Electric 100 Jan 44 111% Jan 5% Jan 23% 4 • 10 51% 24% 800 23 Jan 26Va Jan 43% 44% 4,200 43 Jan 111% 112 % 450 3% 4 10,800 1% 110% Jan <? :; y77.Y7»7y® NEW ''YORK CURB . EXCHANGE ":'S#ife-S-;RANGE :A A7 ••'•A-8TOCKS— 'Y;y'A/ ;"y York New 7,,-., ({,'J'''. % V;.-i'VA w'a •F General American Corp !' common Sales Range " New High 600 15 48% : ■ 14 Jan 15 % Jan Catalin Corp 25 47 Feb 49% Jan Central Maine 52 15 Jan 1 53% Jan Central Hard Rubber Laundry Light 6% Feb % Central Ohio preierred Mfg Co 25 Jan 46 Jan Central Pow & 24% Jan 27% Jan Central to American 28% 29 22% 22 Y Corp 28% ' 52 V* 125 52 Feb 19% 18% 10% '10% 3% 2% 175 119'/a Jan 7% 7% ,. 12 Va 4,500 7'y 9 Aircraft Co Ciittiis Cherry-Burrell Feb Chesebrough Mfg 121 Jan Chicago Rivet to Mach 7s/a 12 Va Feb 157/a Feb 173/4 Feb Consolidated Chief y; Mining Anchor Post —a Fence 14%173/4 1,000 class Common 6% 1,400 39 V4 -X)'.-"'. 112% 113% 130 ; 37% 7-\. '-"•'•v." - ■ .12% \ 12% u% & ' Oil to 6% 4,000 6% 22,500 American 7 12% .-. 12% 12- : Atlanta & B.rm Atlantic Coast Atlantic Coast 11% "7- Jan 7112% j- Clayton Jan Cleveland Jan Clinchfield Jan Clinton 11 114% Jan 23 7, Feb 27% Jan 13s/a Club Jan y 12 3,300 .;,7"y(7.y-'- -£1 reg • Y" Coast RR Co 10% ~3% "3% . .4,200 Jan 7/ 33/4 Jan Jan; y.y Y.. Feb y Feb 11% 2% 7-.. Jan 10s/a f6% =jan 1 Co "Jan 91 so Utensil Co Feb Community Jan Community Water 10 Jan to 22 % Jan Jan 27% Jan Conn 36% Feb 26% Jan Jan y2 Rights wi pj 7fo preierred Baldwin de Banco Co ' Steel Barlow & , • , • ' . iL) A 5 common 1 common 1st preferredBrummel Beck (A S) Reliance & 24 :r Feb Jan B 17% 75 y 171 173 in ~5Ya. _1 21% 21% 7% tS) St Co Ci 5%' Feb Croft Brewing Jan Bourjois Inc Crown 6% 63/a Jan Crown 55 Va 56% Jan X36% 37% 39% Jan Jan 5%; Crosley Motors Inc Breeze Corp Lgt St Pwr Crown Aeronautical ''rpWRter 29% Oil British American Jan rets ord reg—,-<,„CTMa—_£1 Celanese Ltd— dep British Amer dep rets British ord reg....... Columbia Power Class B Class Brown A • IH Distillers.... Rubber Co Bruce (EL) Bruck Co Silk ; common Burma Hill Burry & (P H) ' 55;% ~93/4 42 dep rets 14 Ya 14% 21% 73% _ Jan 3Y8 12% 8% Feb '300 1,000 £1 4% 4% 7 7 41/2 300 Electric Califorrja Callite Camden Canada Canada 6 Ma % II—.1 —IIlQ Power H~ j Fire Insurance... II"! 5 Bread Co, Ltd "III* Cement Co Ltd commonlll Tungsten Corn preferred Canadian A preference.. Class B City to Dobeckmun Carolina , Co Co P (J Products class 13 10% 11% & L W) $5 Co IIII* II » IIIIII* (A M) pfd— com ..III ; Products Castle • & Co footnotes 31% Feb 103/4 47/ar 2,900 Feb 7Y1 see 10 page 929. 2% 7 y 1 Jan Jan 108 V4 Jan 7 Am 16% 7 133; 77 4 34% 33 7 Jan Duval Jan Feb Jan Jan 83% 22 Jan 29% Jan Jan 6% Jan 4% 400 47 5,000 9% 1,500 25Vo 500 110% Jan 7: Jan' Feb 12% Jan 34 Feb 32% Feb Jan lll'A Jan 28 Feb Ay. 30% Jan 4,800 11% Jan 14% Feb 29,300 1% Jan 3% Feb 46 Jan AA,7 7.%. Jan Jan 31 100 " 6% 1,000 100 130 Jan Jan • 4% II,600 39 . , A- 107 6,000 55,800 Jan 13 3,000 . 19% Jan 1,900 . 7.15% Jan, 2,700 8% Feb V'^600^., 7 18% Jan - ®'« Jau; 5% 29% Jan. ; 200.T.r.. 4y2 Jan.. ... 55 JarL 6,600; 30% Jan •; 35% 7' Jan 11 7;7 ; Jan Jan 43 26% Jan $'■ 7: 3/4 Jan . Jan 6% Jan 10% Feb 400 33% Jan 5 Vh Feb 20'A Jan : A 18 7. 9% Jan Jan 20% Jan y'7.7 8 Jan 32% Jan 5% Jan .f Jan f.7 7 >y. •YVg-1,58 36% Feb 38% Jan 7 A 13% Feb 32*% Jan 8% Jan 17 , Jan, __ 12 12 100 \ A ^ —* .. 23 Feb ,20 , A > 16% __ 10 •' 24%.,241A - Feb Jan 37 Va "15 ; Jan 17% Jan Jan 178 Jan 170 - Feb A13% Jan Jan Jan 23% - ;:25% Jan Janj v 24 V2 Jan 20% Jan '21V4 Jan 4% Jan v. 7 Peb 6,400 8% Jan 200 32% Jan 12% Feb 37% Feb 37 Jan 39s/2 Jan 17%' Jan 19% Jan ;y: 8,600 __ 19% 17% 19 3,600 7 7 V — common 24% Feb 29% Ja^n 45 Feb 66 Feb 87 Jan 23 45 A A: 800 68% •'100 6% 8% 102,400 ' , 8 Va ' •- Jan 8% Feb Jan 41 % Jan 12% Jan 15% Feb 5% 40 ; 14% 14 4,800 84% Feb 783% __ 84% Jan 84% 125 85 ■ Feb 91% Jan Jan- 65 Feb Jan 103 62 62 A; 50 62 103 103 25 98 - * < ..—--———£1" Feb 68% -10 '..'l -L' '7: —* — A ; 22% ?Y. 44 M — ' 300 22% — • 8ulphur—- Texas Jan- 164 •' -300 . 7«r7 -C: 7"^"** •, Jan 711% 1 310 12% 12 — 2^/4 13 140 10 168. Jan 13% 2,500 53 Feb 36% 7 ,400 13% . 30 Jan 23 3,800 37 137 . 50 - 25 37. , . 7 10'A 16 • . •< 1 % 100 9% 16 155/8 . 16 , 4,200 t A Feb 110% 10A Jan 400 10% 18 8!/s — • ; 7 __y :,7 —1 9% • i6 v Jan Feb 19% Jan Jan 10% Feb 16 6% Feb 1,800 E Feb 15% Feb 20% 13% Jan 16% 4Ys Jan 34% 575 30 Jan 35 Jan 32% Feb 34 Jan 26% 263/4 27 20 Jan 27% Feb 57 54% 57 52% Feb 59% Jan 133/4 13% 1334 20 21% prior preferred Malleable Iron States Washing — Machine B Stores common $3.50 pfd formerly $5 117 Jan 14 Jan Electric 20 Jan 22 Ya Jan 34% Jan 41 Feb '-■■■ $4.20 Bond ofd. to share formerly $6 *4% 78 78 75% 97% 71 77 * 3,100 3% Feb 80 . Jan 42% Jan Jan,- Jan 104% Jan7 .A Jan Jan Jan 1, 25 40Q 5 Feb J • * -*< * 74 A Jan 80 71 Jan .79 51 75 % Economy Grocery Jan ~4% "4% Corp Jan 400 675 40% 7$7 Easy 71% 71% preferred ; 8 I 5,200 7% %: 73% 103 % 104 104 preferred series A 7A $6 preferred series B._ Eastern Sugar Associates— $5 preferred , 6% 73/a Assoc common Eastern Jan Jan 4 St Fuel Eastern Jan 100 Gas 4%% 32% Jan 14,300 12 Ms Feb 9 y4 Jan * 4% 117 Jan 12% 71.% 7 A class B common Hosiery Test Corp Jan 800 17% 13% li % dep rets ord reg Durham liYs 16 Jan Jan A;v'112 5,000 D19%20'A >f 7"% 7 8 —*77, 85 Rubber Co Ltd— Dunlop y" Duro 25 30 Feb 118% 115% 700 16%9 33% Jan .3% 91 600 15% 8% 28 S7::,;l4% • 7.77 Duke Power Co— Jan 9% 10% Jan 24 % \ Feb 4,700 17% - Jan 20 10% 27% ■ 4!/2 5%; Jan 5 80 - ■ 6% 6% 102 102% 5 5'/2 10% 26% 3% Feb 23% 44 % Jan 85 I,200 i_ __ . common—,—.—*.,7 Co A Driver Harris CO———— 13% Jan 10% Feb Feb 5 Jan 4.7UC 31% IIIII* A common-. Casco For 12% ■ 4V8 9Ya ;-'y7 17 2,300 : Jan 20 1,500 -3% lll'A 111% 35% ..- Draper'Corp 6% « ■ ■ 23'A __ reg———y£1 Ltd Dominion Steel to rnal B— Dominion Tar & Chem Co Ltd East I III""* Class B ^nrnation Carter 6 y 24% Jan 7 .-II—* voting Jan • Dominion Bridge Co Alcohol— voting non Jan 20'A :2% 857/s r Co Ltd— Domestic Industries class A com 7 : 11% 25 Canadian Marconi Carman '' —.100 Industrial Canadian Capital ' 12 Ya . 5% ——-* dep rets ord Corporation Am 7 Divco Car & Foundry Ltd— Participating Class 5% Jan 4% : Feb 7,7 ; pfd 3% 44% 1,100 4% __ , * — ' 4% Estate 4% ; ' Jan 83/4 5Ya dep rets 5% 777:.. 5% Feb Jan 23 Foundry.--—-—I 6% , 6 6% Detroit Mich Stove. Co common,^ 1' ; 11% .11" 12 Detroit Steel ■Products—-,.. •———10 7 ;-- 7' 36% 37 77 De Vilbiss Co common—— —10 — 7;Ay7 %, preferred ———-——10 Jan 77: llYa 53/4 Wireless— Jan 17% ^ Gray Iron. Detroit Distillers 2Y« 43/a Sugar 3% 600 . 168 Jan 77 m 43/4 <& Feb __ Diana Stores Corp 10% 5Y4 American Jan 40% __ Jan 23 ~~50o Cables Feb % Jan 80 Jan . 153/8 Cable Electric Products common—50c Calamba 100% Jan -37% 260 debenture.^——:—*.100 Derby Oil & Rsf Corp -! certificates Jan 300 15,500 ' 4% 19 <157/8 Pu.'8% preferredLLL——-28 A Dominion Textile Co Ltd trust 97 273,700 40 5% 21V2 4>A ... ' 27 t Detroit Gasket & -Mlg———' A'7 q% preferred—.—— —20 •7 74y7 Feb ' Voting ' — ————I prior preferred 12% ... ,7 45%. Jan 39 lA 4Va , __ .'.7- 11% r— - 100% i76 15% 16% 155 155 45 22 Ya 25c 2,800 %— - , 14 Ya 22% IIl2%c ; ; -. % ,100 convertible——*——38 Feb 18 • common A Jan 10% 42 10% Jan , ■. 5 common...———* Lighting Inc common—.—2.50 Mfg Co (Mof, —J J 68% 59 Va 2.50 Sullivan Corp Am 11% Jan 33 7/ Jan 11 % IIIII* Ltd Biscuit Corp Butler I Jan Jan 5% SugaT 102% 58% fl Buckeye Pipe Line Bunker » Jan 4% —• . common Mills iP.Va *4% • $5 prior preferred Brown 7 27:,, Jan, "4% I* ... U6 8'£ "4V4 Jan Jan ■— Dejtty Stores common....—50c ueunison Mfg ciass A common—8 73% Jan 7% 7 Jan 6% .39% 7% Jan 15% 12,900 14 lA 13'/2 14'A 2%^',. \2% A, 3 -42 42 ^ Tobacco omss Jan' 24% 7Va • common preferred Forman A ;... . Fence & Wire Brown class ...10a 16% ■7. 12% Petrol (Md)^——i8 Cork International A—l-*„ 504. ".Drug Co common ,25e : po 17% Atlantic Jan Jan . Davenportf Hosiery Mills--—w—: Dayton Rubber Mfg new com. .-50c 24 Feb Jan 77 »K 83A 714 9% 42'A ' __ —* — Jan Jan 34 34 • Am dep rects ord bearer——— Am Feb Jan ; 25 34 Cuban Tobacco— Co 37 7 Feb: 11 9% * ,, Curtis 31 31 8% ' American Feb Feb 21 8Ya Class :A——. Curtis Jan 5% 5Va 7/5% 31 31 Jan 31% 253/* 53/a j British . 25 Jan 27% 55 28% '77.7 29% ~* Bridgeport Gas Light Co.. Bridgeport Oil Co Brilio Mfg Co common.—-—:— Jan 37 43 lll'A common^..—• >'r$6:r)preferred^L—L-LL-w-iLi—^^--10, 26 25 1 88 250 * 87 100 117'A 117 lH'A 100 112 112 112 1 11% 10% 11JA 8 81. / ; 80y2 82% 1 27 27 28 10 5% 5% 6'A • 42% 43'/2 100 12% 12 12 % —1 j.. 32'A 30% 32y2 Cent 'convertible 65 55 >-7' __* common.. 49 Jan Jan n*- Crystal Oil Refining 'Jan 150. • Brazilian Traction Feb. 60 Feb 21 " (ord reg)—£1 Crowley Milner & Co.— Feb Cuban 25 Jan 45% v: 5% ..' —8 Co.———1, Jan 7 37% ? Jan 19% 18% 125 27% 23 Petroleum. 5.7% —. , 1 convertible preferred.*....-.-—50 Creole ■ „.„.IOO J Borne Scrymser Co 600 325 • 3,100 39% 5'/a common Jan .■■7:6-"7 i 1st preferred Feb » A_L——i————• Petroleum Cosden : Feb & preferred $6 29Y8 143/4 6%- • — Co common. Con A)n Jan 55 »/a Ridge Corp common 1 $3 optional convertible^ preferred—.* 9 2,200 fa ——50 16 28 Blue Jan 32'/2 10"% 45% —-—* Reynolds—6% Courtaulds Ltd— American dep receipts 38 253/8 |H Coro Inc d_ 487/a y 33% 28 * Range Co Cornucopia Gold Mines Jan ; 16 153/4. 38 l Blumenthai Co Jan 21 Ya common 7V8 37 ■ 100 100 * ————• preferred 21% "ly* • Boliack prior 34% 303/4 ~5Ya common Jan 9,700 __ Machine Co 40% 30 7—7; 7 Blauner's (E W) Corp Couper Feb 9% 9% Btrasboro Steel Fdy Si Mach Co com—* Bliss 1% •Feb ' 25 j common Steel Cook Paint & Varnish Jan .75 . J 25 7Y4 in : 17 * Berkey to Gay Furniture Feb 32 A 81 Ya — Gas Textile Co Continental Fdy & Jan 12 20 y;r~f. y x71 • 9 • . • common Consoi Feb 21% < 11'/a 7. y ... loo common preferred Bickfords Inc ?.Y'- 11 Va 25 1 common Hedges Convertible 20% x20 I 16% 1 — Bell Tel of Canada Benson ^ —7- Corp Aircraft | 1 - common— Shoe Jan 100 Ties Beauni: Mills Inc 7" 12 % Jan Continental Gas & Electric Cc— 11% « . 7 7% 7v; "14 5/8 14% 12 >/a 14% , Basic Refractories Inc Beau Jan 11 1 Mfg— convertible $1.20 Feb 20 ^ - Corp Seelig Baumann 42% 18Ya Consolidated shares,— Barium 42% 17% 18% Jan 30 fe'A 1 Utilities Consolidated Mining & Smelt Ltd Consolidated Retail Stores Consolidated Royalty Oil Consolidated •; Andes-— los American 1 common. 493V" Jan 44% 42% 30 Rubber Jan 11 1,150 • preferred series C 4% • 17% Jan 15% 1,100 8% ' preferred Jan 16% 5% 1 Co Feb Jan 14= 14% 45 145 Jan 140 Jan 155 Jan 13% 50 Feb Jan 34= 34% Jan 146 100 4 165 Jan 27% 8% ;• -—-Li-—i————— series B 4%% • 150 15% 5'A w——^ Biscuit — Consoi G E L P Bait 41% 170 27% 37 10% 45%. ' Gas & Coke Secur common V*.$3 preferred ■ 44% Jan Jan 2% 19,300 300 80 77;32% 77 Service.——..—1 Feb Wilcox Co Jan 400 i; Public Service——25 Co"coliriated Babcock St 17"! 8y2 wariants— Commonwealth 26 Baldwin Locomotive— Jan 16% 100 Southern Jan 18% j .. ,v - — Co preference 5% :> Plow 18% ,, 15 30% 29% |y 81% —100 1 ——• Inc —.5 :..... 1,000 8% 19% Compo Shoe Machinery— V t c extended to 1946 ... Jan 46 8% Ayrshire Collieries cnrp • 48 600 45% 27 25 Jan — 7% 18% • & Sons common— Feb 40 950 46 J preferred 152 48 30'A 8% Feb 22 >A Jan 600 18% 11 % Machine Jan 17y4 17% 3% 3% 154 165 — common—.——* Colon Development ordinary Colonial Airlines 1 Colorado Fuel & Iron wrnts (new)— Colt's Patent Fire Arms 26 Columbia Gas & Electric— • pfd—100 Fisheries line Industries Aluminum Jan • * Feb Jan 17% • Corp 22 16% Jan ;,7\.,|:7'77,':VI: "3% Coal Feb Jan 20% 13,600 ., 10 Vb 29 100 —1 Illuminating Electric Feb Jan 6'A 800 Inc Lambert to 45 >4 300 Mfg Lights Neon t 46 y2 22 22 32'% 1 Co Products (B Fi 6% Claude Jan 7% • Feb 600 Jan 7 14% Feb Feb; v' 6 7 6 Va 10 3/4 ■ Controller Voting Automatic ^Automatic Avery Clark Feb Feb Jan Jan 20,100 149% $ 146% 151% 14% .i, - 144 145 16"A 153A 16% .. .''11% 12'% . • Jan 142 ■; 23 47 17% 3% 155'A # j 10 City Auto Stamping.; City & Suburban Homes Jan 37 36 150 —.i——*A..: -7,—' 77/77 14% JanV.y 1153/4 Plywood: Corp.—..—I ■ 7 Feb 67/a 42% ' Atlas Corp warrants— :Atlus Jan 19% <■" Jan 7112 ■' Feb 9Ya ; preferred preferred 7%$0 preferred BB 60c Feb 142 32 * $6 Cockshutt Associated Laundries of America 7 . Industries— rects dep 7- - 114% 114% ,;;-7 10 23 25% 1,900 25% 1 Co 11 10% .2.50 Refining Electric Associated 37% • 6% Light $7 preferred.* Equipment Corp Ashland . Feb : 5,000 < 6 6% 6% -10 Power Jan-. 18 7 Jan y7Y 5% Jan 400 • * non-voting preferred Arkansas Aro A 15% "y<_wy;y" ■ '• 93A 2,100 7 15% f V.' I::"*6% ' ^ :7~6'77 ~6% •y Gas common 12% ' 1 Inc Arkansas Natural 7 y:. ,7'YOil Co Ltd— Ayv- A Am dep rets ord reg. ..A*1 Angostura-Wupperman • Apex-Elec Mfg Co common Appalachian Elec Pwr 4%% pfd__ IIoo Argus 13% 16 7"7- Y —1 Angerman Co Inc common. Anglo-Iranian Jan r 22 __ , 10 common 13% 48 ' 4 1 ,—100 SChilds Co preferred Cities Service . V Chicago Flexible Shaft Co common—• Feb 59 Jan : Feb Jan Jan 20% 23 23 21. 117 % 106 120 150 9%' Jan Feb 10% 550 9%^|:...'8% Jan 21% 37 10,900 45 139 46 44 42 40 Jan 103% Jan 117% %'Feb 120 Feb 18 16 Jan 105 Vo 200 12 42 130 5 common 500 20 10% 42 A 40 . 10 5 25 common oorp Jan 13% 117% 117'% 43 139 i J common— Chamberlln Co of America Feb Jan Jan 6% Cessna 7 1 Feb 3% Jan 43 5,400 11% 12 . 2,800 57 54% 4,100 : 11 Jan * - 100 100 100 —100 — 203/8 .7. Jan ."7% « common. Jan 97,200 11 3 57 • 1—3 preferred 56 » Jan .; 8% 3% 120% 120% « Paper 155/s 6,200 19 Ye Feb •:V liy2 50o preferred 6% 19% '——.100 "7//%, .■/: pfd opt div ser Conv pfd opt div ser 29 6,500 16% 105Vb 105% 105% V . Range Since January 1 High 120 1 . Utilities West preferred I'ie 5% Proancts Conv Jan -■< Jan 52 Jan y- 5 Ya 46 % :;• Jan 41 2 Shares iY:Y High %Low 14% 16% 1 100 pfd__100 pfd 4%' pfd Lt South SCent States Elec Jan 24. Jan 400 10c $6 series preferred 5% 7 46 • Writing 11,300 3234 Jan y 20 ■77 4% ,7 ,700 v7:1,100 43% ...10 com preferred Thread 22% 5% '7- 5 % 5% • Republics.. Seal-Rap common Superpower , • Chemical & American 43% 1 ; Potash American 300 8,400 - " American $6 44% 26% ;:.V7 26% Co.—. American Meter Co 1st Jan 1% Power Steel 25% :44 —25 common common.. Matacaibo American 7,24 ; York 44 —20' Mach.. Trac to American Amer 33% -.7 2,750 27 32% . of Prices Low ■ ■ Sales for Week Last Exchang* America Power 29 American American Eiiiierlcan —25 Co Curb of New 333/4 • American York AiA'vA/v''.. A!''-Par'A^:;:- . ' Y Y. ■; Week's Range Friday Sale Price Range Since January 1 y High Low 7 -Y ■ ^v-1/ . , yv'Y. 48% 1 ;7 Y-',=''77. 7777.Y '77,■: v7Y ■ STOCK& Shares Low -10c — preferred $2.50 convertible preferred FOR WEEK ENDING FEBRUARY i.i for Week of Prices Last Sale Price ''1'" For convertible $2 Week's Friday Exchange s ; ,7 Curb ■; ?.v 925 FINANCIAL CHRONICLE THE COMMERCIAL & Number 4465 .Volume 163 Jan:1 56% Jan • ; F^b 11% 23 < 75% 78% - 21% 23%"" 45,500 75 % : 75% 600 77% 78% 1,200 Jan 14ra Jan 25 Jan 29% Jan 18Ya Jan' 72 Jan 75% Jan THE COMMERCIAL & FINANCIAL CHRONICLE NEW YORK CURB STOCKS New York Cork Friday Exchanfo Week's Rang* 11 „ Elliott Co 5% 9% 11 Pipe Line Eversharp Inc 38% 16,600 51% 200 it 51 111% 111% • 20 109 14% 10« 14% > 1,200 3% 3% 52% x52% 54 18% 17% 20 • Imperial Jan 62 ^ Feb 38% Feb Jan 3% '••."'••52 Jan 13% 1 : : '111% Feb Jan 14% Jan 4% f ■ 55% 56 Feb 100 30% Jan 32% Jan 59% 28% 14% Ireland 14%' 13% 14 29% a 14'/8 .14% 29% Indianapolis P St L 5%% preferred.100 preferred .100 Pairchild $2.50 Engine & Airplane pfd Fedders-Quigan Corp Federal Jan 120,000 5% Jan 300 75% Fansteel Fire 13% 23% Metallurgical 2,700 23 i'i;: 23% 110 Brewing 17% 8 7y P; 97% 110% 8 conv Falstaff 1 Compress & Warehouse Co Association ; 74 .17% ;preferred.—. Am dep Ford Motor of rca if 69 — Canada— 8% 26% 13,700 • Class Feb 1,600 voting 29 Fort Pitt Fox of dep Brewing Co Brewing.. Distilling 4% Jan ■.: Jan 92 y2 Jan 850 94 Jan 26 ' Jan -■; 33% Jan 60 Jan Feb 28% Jan ;28% Jan ;.r'23Jan 19% Jan ■25% Jan convertible 9% Jeanne+te Glass; Co—... Feb 23 49 . Jan 34% common. co 12% common. Co pfd Jan 1,300 11% Feb 8% 17% Jan 0% Jan 17% la 10 200 7,200 • 250 12% 700 9 28 900 26% 106 - 14% t enm 20 MS— • 10% • • — • 36 29% I 109 Harvester Alden Coal Corp. Gobel (Adolf) Inc common. Godchaux Sugars class A B _I_ 12,700 ■' Jan Jan 43% Jan Jan 3% 3% 1,300 29% .400 SO Jan 54% 3% Jan 17 30 50 conv pfd 25 115 J1 1,500 12% 36% 500 Paclfio stock 10 22 2,400 24 ;•-' 24%;:. 8% Jan Feb 44 •• ,Jan i Jan Feb 105 Jan 4 Jan 50 Jan Jan I . 14 0 71 cf common 28% Jan 47% Jan Jan 13% Jan 18% Jan 23 Va Jan 1,900 21% Jan 37% Lionel 12 > 4 y'.-'y- f-'-fy II " voting trust ctfs Brewing Co jg Feb 6% 12 m Dept Stores common 86 Jan 78 120 76 Jan •■: Feb ? 300 22% Jan y: 24% Feb y 8% 7% Jan 9% Feb 10% 11% 8% Jan 2% •:~ 9% 170 88 2 32 W 17% —28e Rubinstein _• Class A 23% 16% 18% ■ 100 16% -l - preferred «> ~IOO w ,w class ,22% 22% 24 12% 14 15 Va common 19% ; - •' ' 17% • Feb Jan 12 Fibre 29 Class B , 34 a 34 y. n% 18% T- 28 11% 80% Land .& Ligonier Co • 17% — common 1st preferred Hydro Electric Securities. Sygrade Food Products— ;v ~3.% : 3% : 50 25% /. : 37% :'> 7,000 y : 13% 4,000 150 28 Jan 40% 35 33. y - " ■■• 300 '1 27 47% y 16% 500 9% 9% 2,000 8 400 43 __ 30% 48% 50 ' 425 6% 7% 31% 700 Jan Feb Jan Feb 115 26% conv For arrear 52% footnotes see Jan 30"% 3V8 Jan 48 17% Feb Feb Jan 3% Jan Jan 900 42 Jan 50 Feb 21 Feb 26% Jan 1,100 23 Jan 30 Jan 30% Jan 14% Jan Feb 16% 27% Jan Feb 26 3% 28% 18% 17% . 3% . 104 Jan 30 Feb 19% Jan 3% Feb 15% Jan 3% 2% Jan 62,000 105 500 103 Feb 107% 96% 97% / ,775 94 Jan 97% Jan 11% 10% 11% 5,200 10Va Jan 12% Jan Jan 112% Jan 111% 38 Mfg Feb 47 Jan Jan > Jan 50 Jan ; 7% 32 Feb 6%% 6% Middle Oil pfd- Mid\ ale Co Mid-West 35% 31% Feb 35% Jan 72% 70 Feb 75 Jan 18% 18% Jan 19% Jan Scott. - 6 * • * 5% conv P Jan 4% Jan 17% Feb Jan: 94% Jan 17 ' Jan 22% Jan 42 Jan -J preferred—• conv f 3,800 100 19% Jan 45 Jan 16% Jan 2,200 19% Feb 26% Feb 30% Jan 8% 9% 2,800 8% Jan 10 Jan 24% 3,300 Jan 25% 21% 23% 2,300 23% 19% Jan 26% Jan 10% 400 8% Jan 12% Jan 50 109% Jan 110 > 110 1,700 • . 10% 9% 11 10% 17,300 6% 800 f 9% ■ 58 : : '8% "9 :!• 16 800 17% 8% 300 110 Jan Jan Jan 11% Jan 12% Jan 60 Jan Jan' , • Jan '• 9% Jan Feb 237/a 3% A» 17% Jan Jan % .5% Jan 117/a Jan 13% 2,400 20% Jan 24% Feb 16% Jan 18 Jan 3,100 3% Jan 4 Jan 10,000 20'/2 Jan ;" 25% Feb 15 16% ' Jan 4% 900 200 5% Jan ?; 16 Jan 22% 17 • 4 yy 22%; 24%: 16 12,100 f 13 ? Jan ( ——• * 33% 46 % 33% 33% 39% 46 50 7% 7% 10 & .Cupply 12% .11% 1 1 >,'■:• -y, 8% 12% 100 32% 525 36% 7 6 33% 5% • 100 Jan Jan 46 Feb 9% Jan Jan 11% Jan 12% 38 100 33 Jan 39% 6 5,100 5 Jan 24% Jan Jan 2 9%, 33% 3,200 ."9% 10% 4,800 • 50 pfd... .'35 Jan Jan 1 1/200 1,200 73 38 :—* common 5% 19 26% -27% • common— preferred L Jan Jan 3% 22 Co. & 19% 12 Vb 1,700 13% 5% Mining Corp of Canada Minnesota Feb 1,100 12 % common Co 6% 23% 9% 100 —1 250 15 1 2.50 Refineries Wohl Feb. 3,800 17% —1 Abrasive Piping Jan 6% 94% 3% Oil : 4% 43%, 44 $2 non-cura dividend shares • 40% 10 & $2 200 100 18% Co——t Corp Jan Jan 17% 19 .... Corp Jan 20 3% t c West Midland r, 6% 16%. 17% t c , v 48 16% v A preferred B Jan Jan > common Midland Steel Products— Jan Feb > 8% Feb Jan 40% Co Ltd Co Chapman Class Jan Jan 7% Middle States Petroleum class A v t c.l Jan 10 31% 929. Jan 26% •Micromatic Hone Corp. Jan 18% page 11% 82% Jan 39% Michigan Steel Tube Michigan Sugar Co. Preferred.. Feb 14 70 ctfs Jan Jan .26 Marine Warrants Miller preferred Feb 18% Feb 21% 2,100 Co Participating preferred— Michigan Bumper Corp— Jan Jan Jan Harris Midwest 5% . Jan ,30% Jan Steam Shovel Midwest Dividend Feb Jan 20,800 ■; 24% 200 Metal Textile Corp 33% Jan Jan 22% Internet Mid-West Illinois Power Co common. 34 Jan , 9% common Messabi Iron Co Jan 39% 45% 5 ' / Jan 15% ' ; 1,200 30% 44% y/ 43% Jan "12% Feb:- 47% ' Jan Jan 31% Jan 48% 15% • Jan 97% Exploration- (The B) -Communication Merritt Feb 22% 115 y , 52% :• 31 Si 40 2,200 20% 37% .800 18% Memphis Natural Gas common Mercantile Stores common Feb Jan 16% 50 Jan .Jan Jan 9% •Com stk purch warrants . 22% 32% 27% : ,• 52 80 '• Feb Jan 73 • commor Mead Johnson & Jan .■ 13% 15% 10% 90 '•:!''' *':'i •—-^ "3% Jan Jan .2,100 10% 8ft McWilliams Dredging Feb 12% 13 Jan Jan 50% > 52% ■ Corp 35 Jan 137/a 325 Feb' <■ 20 ■*•. Corp common >.$2.50 preferred 40 >--"• . ■ • 21% */ 41 23% V.' &Z 31 100 ' McCord 67% ' 40% Jan -• McColl-Frontenec Oil Co 6% 20% *" 15 19 % ,300 20% 10 , f Jan 8% ,25 16% .27: Consolidated Massey Feb ,108 1,250 103 11 600 • — Mass Utilities Association Feb 15% ' 45% f , Feb 16% *y; 21% Jan * preferred B ctfs of dep— Marion 200 31' ?-j / 900 17% Jan: Jan 5,800 20 47% 21 r A. Marconi 3,400 73% 37% $2.25 preferred— Huyler's X49 16% , 13% Jan 2,500 . 20% • >r" —L-—>■ «. ; Groceterias Mapes Feb 15% 200 .. 1 31 33% 2,500 13% 14% -10 Mangel Stores Jan '40 rr : 80 24..,' 67% i—- Hubbell (Harvey) Inc Humble Oil & Refining Hummel-Ross 111 I:-1'" Corp > 32% Feb Jan 900 23% 13% ' prpfprrAd Manlschewltz Jan 16 Va y 400 30 preferred Hussmann 16% 109 Hormel 16% .0.' 4,100 100 \ X49" Inc Jan 15%.m 16% (Geo AV. & Co common. Horn & Hardart Baking Co_._. Born & Hardart common 21% 100 73% , M Feb O'O 24 A 10% 40 111 Heyden Chemical common Hollinger Consolidated G Holophane Co common Feb 15% 15% common 5% 15% —. common f Jan 8.700 13% ! Feb Feb 30 y 13% ! 2% 23 100 'i ii 11% 400 Manatl Sugar optional warrants. Feb . 800 • 19% 6% 40 V ' 300 : y;' -a. Lit Brothers common. Jan 700 17% xl8% .'• 68% 1,500 25 78 1% Jan 29 Jan Lipton (Thos J> Inc 6% preferred—20 Feb 4,000 12% Jan 89 '100 29% 30% - 56,500 32%. 30% 16% 6,400 11,300 YV ,29% (R G) Ino. Corp ; i 114% Jan 23% 9% 29% ...1 y Loblaw /•Class . m.MM V ./■' y Jan 38 3,400 ' .25 § Mining Co 10% ,;.f Jan 8% 50 6%F: 6 % '• • •; :5% 14% 750 2,050 72% 6% j 800 10% X38V4 71% 1 Hat Corp of America B non-vot com—.1 Corp 17% . 2% -1 _ Louisiana 10% v Jan Jan 9% '. Jan 22% Jan P>; Corp 6% 16% Feb 15;% 29% 6% Jan 350 1.100 's , 86 Line Material Co. 25o X38 Feb 25% Jan 23% - If preferred!— preferred nil nAVAlnpmAnt Le Toumeau Jan 012% 31% 1st > rnnverHhlP Prior Jan 1,700 34 new B Tj>nnard 100 X38 Feb 22 Jan 4,850 y 13 123 Jan 23 % 32% Long Island Lighting Co— Common ctfs of dep.— -/: 7% preferred A ctfs of dep— 10% Rayon Stores •>■.;:■■ 18% 114% Jari: Locke Steel Chain Ltd Hartford Howard > Jan 76 —10 -5 Monotype Machine Realty icommon.——— Lefcourt > Jan 51 - 1,200 400 ; cia«« • Paper Electric Lightl 5% ? Jan 27% 88 § 1 Lone Star Gas Corp common- 17% Co Hartford Horder's Jan 23 •"'' >'•' 100 Langendorf United Bakeries class A. Lanston • Hammermill & Co i Jaii 112% Jan 121% Jari 200 9% 12% 27% 4 Brewing Cft Lane Wells Co ioo common' v 123 19% . 28% —1. Lakey Foundry St Machine Lamson Corp of Delaware Feb Jan 58% Feb 24% Jan 51 20% Tea— ■'• ft 123 ■■ 22 V,^'^r.T 100 pfd B 'Lake/Shore- MlnesLtd Feb 11% Feb : Jan Jan 9 2% 300 23 30 , 69 48% 65 Krueger Jan 103 54,500 Ja$ Jan 65 • 31 miiit Louisiana Power St Light $6 pfd. (R) , 110% 10% convertible Lynch Hoe Jan 33% 108 • .Jan 25% >. Jan 6% 350 4% 111 Jan ,22 7,000 3% 19 i common 9-VAS .39% '.44y':4 13 13% 1 | Gulf State Utilities $4.40 pfd Gypsum Lime St Alabastlne 5% % Jan 110% Jan VM'. Klein (D Emll) Co .common Kleinert (I B) Rubber Co Feb 109 > Jan 21% f (Cal) Henry Holt & Co Feb Feb 13% Jan 3% jan , 109% Feb - ,19% .Jan -J1l.fe'j 11% Greenfield Tap & Die Grocery Stores Products Co ; Jan 106 : 40 Jan IOO' 69 63 7 % 1st preferred Great Northern Paper Heller y 32 Jan ' 44 3 A_, Grand Rapids Varnish Hecla Jan 3^8 11 Va 9% Kresge Dept Stores— Jan :;:i 7,500 . Graham-Paige Motors $5 Helena Jan 37% x26 5 _ G M Co Ltd Jan 27 24% .- Lake Jan 110 3,100 66% $3 preferred Gorhaoi Mfg common Hearn 39% Jan 2% Jan 26 ylll?>yill%': PPlrnlimm 6V4 111% 500 22 38 $4.50 prior preferred I Consolidated Mines Mfg Co Hazeltine '37% Jan . ; 625 109 % HO ,,1 9% Jan 25% Goodman Harvard Jan 600 100 Kobacker Stores 75 — U 7% . , Lamp Co Bridge 5% 12 Knott Corp common Jan 23% Goldfield flail Jan 4% Jan ' 31% 27 Prnriiir.T.* Kirkland Jan .5% 22% __ Hamilton Jan Jan 11% • Jan •,105% V • Klihy 16% Jan 125 r Gleaner Non-voting 24% 13% 30 -V-/ Co & preferred Kingston Feb 260 37% 22 I-,T, & Co & Jan Jan 1 400 39 ~2% "3% >106% 106% 100 , Feb 1,800 112% 113. • . ■ Atlantic 5Va 38% U — ■»— preferred Kings Co Lighting 7% R <£. pn»fAriw^ n King Seeley; M '11% Feb Jan •5% 6% 107% 109 * preferred_.il — Great . Feb 112 24% 3% — (Walter) 4Vi% Feb 53 Gray Mfg Co Grayson Shops Feb 103 Y • Jan 10% 1,300 1,900 Kimberly-Clark Corp— Jan f\' 17% Feb Jan « class 19% 11% :.Y Kldde Jan 18 V Jan 110 •.'5*' • mm"' ^ 800: 120 • Co. Inc , 700 , 31% ——-— Key Co common 9% Jan i'y.•:'.' 120 preferred Gladding McBean Gorbam 4% 38% "3 Inc Jan 14% Jan 11% / Jan 26% "13% Preferred Class .18 "II • Co Jan .14% 97 Jan 12% 18 • stock N Jan 100 preferred $5 preferred Gilbert (AC) common Glen 300 • 12% 12 5^:' . Ken-Rad Tube St Lamp A— 13%. Feb . Jan 3,600 18 • .; Jan 9% j $6 Shareholdings Corp convertible Georgia Power $6 Gilchrist 67. 101 . " 97 11% II common A 14 15% t 10 Outdoor Adv 6% General Plywood Corp Public Service Jan 10% 12% ft common General 11,900 : 8% preferred series A Warrants General Firep roofing ' ' ' 11% : 5% $6 kM* w.—-yVv'' ■ General Finance Corp. . 13% r._V;;, Gen Electric Co Ltd— Arner dep rets ord reg General 29% 64. 12% — Kennedy's Gellman Mfg Co common. General Alloys Co Rayon 116 Jan ,1 preferred. 5 %. preferred General f "wY; Jersey Central Pwr & Lt 5%% pfd—100 6% preferred — —.100 7*h .preferred—.—, ——100 .Julian-.d? gokeDge Co,li.ll i;';ln ,nli.ii,ii.lii.lllilil,«i*.: Jan Kawneer General Jan •90 Jan • Kansas Gas St Elec 1% Power 114 9,200 Iron Fireman Mfg voting trust ctfs—J• Irving Air Chute—.. ———1 Italian Superpower A A15%* Jan Garrett Corp common Gatineau 40 Jan 33* Stores , -i' Jan 160 140 ' 35 Interstate Power $7 preferred Investors Royalty l Froedtert Grain & Malt Fuller (Geo A) Co $3 conv stock... Jan 103 v —10 — 35 Co Franklin Products Feb hparwr (Peter) Franklin Jan 30% • 116 • • — Jan 1,700 France— rets ' ' . shs coupon 8% 70 : ... Motor Amer Jan •14% 28% Jan • A International Safety Razor B— International Utilities Corp com 120 8% — Ford Industries 29% 69% 27% Jan Jan 101 108% 111 —50 1 shares International Jan • B 28 200 — Registered ♦ Jan 17% Metal Warrants Jan 84 series—... Investment Co... International Petroleum . t Class A non-voting • ," International,Minerals and Chemicals— Feb 1,000 ^8% 12% Jan 7% 15% 15% Jan 13% Jan 1,500 27% $3.50 international Feb x27% as _ 700 98 10 7% (Phila) ord rets 8 ,v 21 Ford Motor Co Ltd— 13% 3,300 101 ————100 Insurance Co of North America Feb 110% 17% 15% 17 % 3,300 77% . 32%: Jan ■ Jan 7% International 16% Jan 115 Indiana Service-6% y • Preferred 17 23 ' .£1 — International. Cigar Machine International Hydro Electric- Falrchild Camera St Inst Oo 800 29 7% Jan Imperial Tobacco, of ^Canada— Imperial Tobacco of Great iBritain f Feb x41% Range Since January 1 High Industries— Registered Jan '•'22 32% 57 Jan Jan 3,100 32 56% VA Jan 49]/2 Co Chemical dep rets regis—. Imperial Oil (Can) coupon—.. Jan 14% Zinc Shares Am Feb 1,300 •> 32 % common. Illinois Jan • 24% Jan *V >600 Feb '127/a . 50- Jan'''••'••; ■ of Prices Low :,.:24% Jan 19%' Jan > 14%-. m 400 4% • 23,300 1 • 100 155 Sales for Week R»n<r« Sale Price High Jan 6% •:•?•• 51% common new 1,700 '•;> 31 . 100 Inc 142 21 58% 38% preferred 100 60 ' 1 convertible Low -'r . Week's Friday New York Curb Exchange 57 .50 pfd •.•y..,.' .' 15 stocks Range Since January 1 21 -10 common Empire District Electric 5% Eureka i v.;:: .IS —. Emsco Derrick & Equipment Equity Corp comhion $3 150 J WatcL.Co preferred Esquire High 150 150 mm::, Shares Low ♦ Electrographic ,Corp National for Week of Prices P*r Electric Power & Light 2d pfd a Option warrants Elgin Sales Lart ale Price EXCHANGE .RANGE FOR WEEK ENDING FEBRUARY ■ Monday, February 18, 1946 8 % Jan 107% Feb 6 36% 105 Feb Jan Feb Feb 11% Jan 107% Feb Yj THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 Volume 163 NEW YORK CURB EXCHANGE RANGE FOR WEEK ENDING FEBRUARY Curb Exchange New ^ork / . Last Week's Range Sales far Week Sale Price of Prices Shares Friday r STOCKS 1, . v con\mon——• Corp*.-——*—_—*—.1 Molybuenum — common———,-* Society A Montana Dakota Utilities new com Ward A— 18% 20y« Low />•: > Moody Investors Morris Plan , 198 — ' 198 Corp of America——10c 8% -80 City Cbpprr common Mountain Producers—.—. Mountain Ptates Power 31% common:—-— ■ Jan 10% Jan Polaris Mining Co..—— Jan 57/8 Feb Powdrell -11% Jan 197 Jan 202 Jan of Canada* preferred.———*— 1st Feb 14% Feb Power Corp 6% 14 y4 Feb 48 Feb .'122 ■% Feb Jan 50 Jan Pratt & Lambert Co.—— 44 Feb 10% Jan Jan 5% Feb Premier Gold Mining——— Prentice-Hall Inc common—*——. 82 Jan 85 2,300 9 Jan 10% Jan Pressed of 15 Jan 20% Jan Feb Producers Corp of Nevada „ 32 . 144% 19% 19% 16% 16% Jan 18% Jan 1,200 16% 32 Jan 26% 40 ■' v: ; 28% Jan 250 , , , 100 300 150 Feb Metals Jan 2% America. 3% Jan 2y8 Jan 100 14% Jan 16% Feb 10 Feb 10% Jan 19"% Jan Public Service of Colorado— 17. 151/* Jan Jan 106% Jan Gas. Jan Jan 112 Jan 109 y4 1st preferred. 108% 112 107% 107% 8% Jan 110% Jan 1st preferred.—*.. $5 prior preferred. Puget Sound Pulp & Timber— Pyle-National Co common Pyrene Manufacturing ' 26% 6% National Breweries common 7% preferred 5% Jan 23,700 : 42 28% 6% - Jan Jan Feb 43 23 Jan 25% Feb 20 Jan 22 y4 Jan 15% Jan 18 Jan 108 Feb Feb Jan Feb 25% 16% 20 18% 19 16% 18% 21% Jan 28% Jan 6,800 16% 20 2,800 14% Jan 17% Jan 20 ! Jan 24>A Jan 17% Jan 19% Jan 22% 22% 24 —- National Mfg & Stores common— National Rubber Machinery- Jan 26 Feb 15% Jan 4% Feb ; 100; 1,900 [[ Car Ltd—. 14% 14 14% I National Transit. National Tunnel & Mines common. 4%- 3% Union "Radio-,-—*.——,. 13% 12% National Jan . National Fuel Gas Steel 23% 'r 'j'i-i tO"?? National City Lines common National 6% 1% National Bellas Hess common..— 100 26% Feb . Prosperity Co class B—— Providence 7% —— 3 . Feb Jan Jan 28 % Puget Sound Power ts Light— Nachman Corp Jan 10% 32% 8% 27%: v Jan Jan Jan 8% 4 6,800 .. 14 27 V2 22 '/4 Jan .200 Alexander—.— & 7Vz Jan Jan Feb 23 175 4 High Low 7% 7 6% 600 11,800 ; 19% 2% * :7.% Range Since January 1 High Pneumatic Scale common* 47 27% 27% Muskogee Co common Pleasant Valley Wine Co- Feb 20%-Jan 150 149 Tel————100 Mountain StateB Tel A 10 0 .10 Murray Ohio Mfg- Co— Muskegon Piston Ring Jan 207/s 125 5% Mountain 32% 400 9% -5% Shares Low Jan ■ 30 22% 22% S 47 [« 47% 22% ! for Week High 15 - • Power———* partic pfd —„• Montreal Light Heat & Sales Range ef Prices Friday 20 -" Jan 25a , ... ———* - 30% 3,400 .10 9.10 Y- 10,500 Y:5% [['•r&Y;i,5%Y 21,500. ; .13% 12% 13%'. 3,200 Monroe Loan Montgomery 30% - J20 Pictures Monogram \ / Week's Laet Sale Price New York Curb Exchango Range Since January 1 : Missouri Public Service jtf.. STOCKS 110 110 Nebraska Power 1% preferredNelson (Herman) -Corp^——. 13% 600 4% Jan ■ 3% Jan 4,700 14 19,900 7% Jan 170 108% Jan 103% Jan Yr 167% Jan 108 175 175 18 Jan 16 Feb 14 112 110% 106 172 107% Quaker Oats common. r 6% preferred Quebec Power Co Feb 22 20% 22 500 19 Jan 24% Feb Neptune Meter class A— 20 19% 20 700 19% Feb 22 r'i Jan Radlo-Keith-Orpheum option warrants. Nestle Le Mur Co class A >'m'L 17% 18% '600 12% Jan 19 Jan 11% 11% 475 11% Jan [12% Jan 88% 90% 1,250 94% Jan 31 Railway A Light Securities ^ ; [■ .Voting common———.—.——.10 Railway & Utility Investment A 1: Rath Packing Co. common .10 . New England [[' 6% «'• • .11% Power Associates.— 90% preferred— ■ Clock New Haven ;Y- 46 Y 31 81 1,800 7% ,7% 400 - 7% 7% 6,800 N Y Y City Omnibus Auction Co NY N Y 23% 24% Reed Roller Bit. Co— 32% 31 Y; Y 31% 29% 37% 40% 3% 11% 4 12% 32 ••••*•'. ,81% Feb 8% 59% Richmond Feb Rio Grande Valley Gas Co v t 24% Jan 28 Jan 18% [ 64% Jan Jan 30% ■: 109 pld.100 N Y Water Service 6% ptd*..*^.*100 92 1st 100 preferred 2d preferred 5% Rochester Gas & Elec 4% Jan warrants. Niagara Share Corp class B com——8 4%% conv pfd .—.*....—..•......100 Nlles-Bement-Pond "3 "2% "3% 12% 11% 107 23% Jan 105 Jan 18% 6,900 31% 7% 33%: 53 54% 50 • Utility Securities ..........l 80 North Penn RR Co— 10% u 10 Inc Novadel-Agene. Corp /v,,, 28% Jan 1,100 30% Jan 1,550 25% Feb Jan 37'/a 31 347/8 Jan 49 Jan 20 200 20 5% Feb 35 55 Feb [[ 8 Jan 12% , 10 Jan > 18% Jan1 3,000 X53 54% 7,300 17,400 4 21% class B 37 105% 110 r Jan , 45Va Jan 45 Jan 57 3,100 12% Jan 13% Jan 35% 38 Samson Feb Jan 500 13% * common. 4% [; 5%Y[. 28,800 38% preferred.—.—100 1st pfd—-1C0 100 38% 650 38% Jan Bchulte Feb 39 ;. 3% Jan 34% Jan ■■ Jan 6 Feb 39 Jan Feb lo 116% Feb 118% Jan 30 Y - 110% 111% Jan 42 Jan t: Jan 400 45 43% 45 19% 19 19% 22 23 15% 12% Jan 900 18% . Overseas Securities, ; Jan • 45 Jan ■ „I 118 Y Jan 700 B——*, 6% 24% , f 6j/4 Pacific Gas A Elec 6% 42% 43% Service. 106% — 1,700 40% ; Feb 16 y4 Jan 22 Jan 25 J .13% :...12%- Jan ::Jan' 200 [Jan 105% 200 27% 27% II% 11% Xll% 25,000 117% Feb Jan 26% .29 l Penn-Dixie Cement warrants.——— 20 Pennroad Corp common.— ^28% ' 8% [' 8% T7% = Pennsylvania Edison Co $5 series: pfd.* 12.80 series preferred...*— Penn Gas A Elec. class A com.: Power & Light 4% % 82 10% : 37% pfd—100 ———3.30 7% 114 , ; ': .-8% * Pepperell Mfg Co new common..*—20 : 8% 65 Jan 50 .. • 20 Jan 48V2 28,800 . . 780 -82% 82 V [-58 "■ 7 900 113% 114 •' 82 8% 9 84% 113% Jan Feb 9 r Jan • Jan 84 Jan 7% Jan 29 21% = Jan . [ 400 57% 58 • • ,[[ 500 Jan 54% Jan 18% A;. 500 29% 450 16% 100 (D A) common— Jan 21% 27% Jan 62 - Scranton 11% Elec Mines Ltd—. ——.1 v -6% 5% [ 13% 12% Pltney-Bowes Inc 6% 14 8,900 7,50a 50 Jan B) 8 Jan 8 " Feb ■ 58,200 [ ..., - 300 Y Silex 113 10 113 Jan 113 171% 172 130 162 Jan 179 Jan 17% Jan •21 Jan 6J/a Jan 9% Jan Jan 19 7% 20% 8% 6% : 1,400 1,400 24,300 ■ >1 Co 20% ;21%' 20% m 27% 6% 100% ■ 34 y4 v' 11% V 9,300 8% Jan i 2,000 12 15% 3,000 — 14% City Gas & Elec Co— :, 3.90% preferred— —100 Smith (Howard! Paper Mills..— * : 336 —1 Solar Manufacturing Co.....—....X Sonotone Corp— —1 Boss Manufacturing common*..——1 Co_— South Coast Corp South Penn Oil-. common^...——1 Pipe Line ————28 ..... 10 19% 800 8% 7% 348 336 original preferred——,——..28 preferred B_ ————29 5%% preferred series C—.——25 Southern New England Telephone—100 Southern Phosphate Co....*—.*—10 6% Feb Jan Feb Inc..— Standard Brewing Co —.2.78 13 Jan 147/a Jan Standard Cap A Seal common,— r* Convertible preferred...——.—10 Feb 47 Jan Standard Dredging Corp 360 73%; Jan 76% Feb 2,350 24% Jan 32% Feb - $1.60 common.—1 convertible preferred..—.—20 Standard Oil 27% Jan Jan , 15 6%C 4,100 47,700 2,800 7% 14 13 8% - • 5 Jan 10 12% Jan 8% Feb 56% [ 1,200 ,51 32% Jan 11% Jan ; 600 9% 60 57 [117% 12,400 Feb Jan ■'[3.1.%; Jan 51 31% [ 300 31% 2Vk 12% 374 Jan 7% Jan 106 23% Feb Feb 15ya, Jan 7y4 Feb 14 y4 Jan [[ 10 y4 Jan 62 Jan ,.33% Feb 51 Feb 32% Feb 30%>/.Jan 31% Jan . 150 1,200 11% . V3iy«rJan 44 ftjJan -1,000 11% Jan 8% Feb Jan Feb 106 10 48 Feb , 7% 2,800 23% 13% 6% 336 23% Jan Jan 20 190 106 20% Feb 151 [ 111% ",Jan 11% .Feb 11 y4 Jan 150 14% Jan Jan 13% Feb (Ky)_—————10 16 16% 200 [[[ [ 400 18% Jan 10% 11% -: 900 '9»/4 Jan 12 Jan 13% —*——10 Co.———8 Line; Spencer Shoe Corp..— Stahl-Meyer "6% I5y4 Feb 21% Jan Jan 110% Jan 22,300 . 7% 7% 106 10% Jan 130 1,400 22% - 5% Jan Jan 480 Sioux Southland Royalty Jan 8% Jan^ : 48 £1 J(m 16% Jan 25% Jan 20% -100 Feb 300 ■ 111 111 v 11% 5% ' 15% <21% Jan 12% : 100 9% 9% - 20% 21% 145 149 : Feb 29 300 12 Singer Manufacturing Co— Singer Manufacturing Co Ltd— Amer dep rets ord regis— Southern Jan 106% Feb Jan Feb 10% common..—.—....1 Simplicity Pattern Jan 7% 100% 24% u Feb Feb Jan 100 [ 50 26 24% 7% 35 98 1,500 26 9% [ Jan 4% [ 4% 106% 28 Jan 3% Jan 26 Va 500 98% 100%' 106% 106% • 22 Ltd Jan -5% Jan Jan ■T .,.27' 29,600 : 1,650 31 common..———.— Pipe 257/8 Jan 18 y2 > 250 '-5% 27 34 -5 1,300 - ' 6% convertible preferred Solar Aircraft Jan 5% Simmons-Boa rdman Publications— $3 . 150 v Feb \ 46% Jan [ 100 r. Sherwin-Williams of Canada.—* Breweries Feb 9% Feb r: 6% Jan Jan 4% Jan 50 ■ 43 27% .1 Mining—.—..—8 Shawinigrin Water A Power.. -* Sherwin-Williams common 28 4% preferred——————■—1°° Slck's Jan Feb Feb 10 y4 ? Jan Jan .118 Jan 42% Jan - Jan 9 " 33% 11% 9% * Jan 3% 42% 1,700 [ 8% 8 '[[ Jan 24 Shattuck Denn Jan 32 y4 Feb Jart 9 v' 2,400 6% Inc. 30 y4 76% 929. Jan., 10>/8 ' Sentinel Radio Corp common- 177/8 75% page 22% Jan 8% 1,100 135 s; 135 8 Allotment certificates—.——— (R • 50 48 20% —-——-—25 5 $5.50 prior stock. 323/8 29% see Jan ' 9% 172 —* Seiberling Rubber common—^ Jan 76% For footnotes 19% 29% Jan 20y» Jan 32V4 Pittsburgh Jan Jan 113 Selby Shoe Co, —— Selected Industries Inc common Convertible stock. Jan Metallurgical—*—, 10 2,800 Jan 40 10% Jan 7,500- 4% —28 -* Securities Corp- General—1 Seeman Bros Inc.——*.*.——* Segal Lock & Hardware 1 Bemler 8% Service--* 45 14% 20 > 43 common Feb 14% 14 . Jan. 7% 1,500 26,200 9 135 preferred^*—.*—.—*.*—* Feh 2 RR———— 50 Pittsburgh & Lake Erie.*. ——..50 Pitts Bess A L E Jan.: 6% Jan • 6 Jan.':' [ 3,300 3% pfd— $6 Co 11 .8% 1 ......28 Scranton Spring Brook Water 1 Ltd Am Shs...... Piper Aireraft Corp com.——*—.! 9% 8% 8% 9% common Southwest Pa Jan 28 y4 Jan 31% liya 8% 8 30% 50 Southern California Edison— Jan 14% • Jan Jan. 35 y4 500 9% 4 Feb Jan ,•16 11'/a 20 37% 31 8% Jan 9% 86% 78% • Feb • • 8 115 : 17% - Feb 67/a ' Jan 49% ! 17% - 28% 6% : 7% 7% 8 8 9 48 ; 1,400 16% Gold Jan 7 - Jan 50% 7 Jan Jan 52% [ * 28% Pioneer , 82 .4,100 23 Plnchin Johnson 8 Jan 5% Jan •100 10% 9% United Corp common - —• Governor . ,17% Jan ; 325 V7% Jan: ([ „ 85 [- Jan 28 250 Pbila Electric Power 5% Pierce Jan [[ 34 2,100 — Jan 79, • pfd Jan 20 • 26%. Feb 19% Co—: ,[ 13 Jan Jan '[ 17% Packing Jail ... Pharis Tire & Rubber.—.———1 Philadelphia Co common.. Pnillips Jan'; 700 50% 29 Jan Jan 22 : 21 50 j'< Convertible preferred Scovill Manufacturing-. 14 v,' Jan 250 - : —• Penn Water & Power Co„ Perfect Circle Co*— 84 28 50% "28 — 27% .28 y4 Feb 61% Jan common. preferred: A Jan -[Jan"-' 10% 18- 82% Feb [14% 35,500 26% Feb Jan Motors 84 Jan 40% Jan i 27 xll% 43% 107% Jan 11% : . 100 10% 111% Feb ill3% 30 . 13% 14% r38% Jan 220 116% 117% Corp*. —_l Parker Pen Co—jo Parkersburg Rig, A Reel —1 Patcliogue Plymoutn Mills. Penn 43% 106% 107 13% —• . $1.30 1st preferred —,———* Page-Hersey Tubes new common—• Pan American Airways warrants Pantepec Oil of Venezuela Am shs 2,800 40% 1st pfd. preferred—. Pacific Lighting $5 preferred—* Pacific Power & Light 7 ft- pfd..—100 14% 25% 22 2,200 2,400 2,700 20 35% Seton Leather common. 14 y 20% Jan Feb 1,200 ' -14% Jan Jan ^'>•; 20 Sentry Safety Control. Serrick Cerp class B_. Faclflo Can .Co common* 4% 109 105% Jan '200 6% : 9% 10% Savoy Oil Co——I Schiff Co common- 55% Jan 114% 116% 116% [Ul;[.< 111 O.AS- 18 *-, Penn [Traffic Co** ,13% Feb Jan 19% 26% -20 St Regis Paper common Salt Dome [Oil-. Co— Jan Jan 1,175 57 12% Omar -Inc^*—— SI.40 Jan 2% • Feb 9,300 48 13 5% Peninsular Telephone 8 23% 28% 22% 22% i -.1 0t Lawrence Corp Ltd. Class A $2 conv pref— Feb 104 10 55% 57 Oklahoma Natural Gas common Paramount 4% Jan Jan I 6% 100 105% 105% 25 Ohio Public Service 7 % » 6% 1st preferred Public Jan Feb 54% 108% Ogden Corp common. Pacific Feb 3Va Jan Jan $6 - 1st 37 y8 Jan 9% 146 .50%- Jan 400 ;; Jan Scullin Steel 8%% 900 10,300 i Xl08% 109% Co—.———1 [Petroleum.*..—* Ryerson A Haynes common.——.1 : Oliver United Filters Feb 3% Ryan Aerooeutical Ryan Consolidated Feb Feb 49% 200 , s —1 ' y't 'W «"rn Vii: ,♦ Northern States Power class A Ohio Power 4%% 23% ' 'Feb 26% Jan 135 150 10 18% 20 105% pfd—100 20 Northern Natural Gas 140 v 8 Northern Indiana Pub Serv 5% 107 Jan 7% 10,400 54% .* 30 3,800 8% 54 common Brass Co 7,800 32% . Jan Jan 18 Y —10 Rotary Electric Steel Co—— • Royalite Oil Co Lto. Russeks Fifth Ave——2 % Feb Jan Jan 58 '■[/>'r $1.20 convertible preferred- Feb 13 , Jan 135 .Northeast Airlines 3% Jan 3% Northern Central Texas Oil Ohio 109% 100 : Root Petroleum Co.— Feb Jan 8 Northrop Aircraft ,i 3% rets for ord reg.—£1 Rome Cable Corp common. 8 Ronson Art Metal Works 8 Roosevelt Field Inc 8 12% Feb 123% 116 ,[' 11. 60 , 24% common..! • Rayon class A———* American Jan Jan r Feb i39% Am dep Jan Jan , 1% 3,100 5,200 . 95 Jan 8& prior preferred North 117 17 y3 North Amer Light & Power B 13 105% 107 - 24% 'NomaElectric.*.**,——*--I Class 8% 61,600 1,225 —J Nipissing Mines- North American Feb i. 112 —• Nineteen Hundred Corp B preferred pfd F Rolls Royce Ltd— 33% Jan - 24% Feb 111 [Jan 85% Jan 180 92 10% 11% 120% 121% 120% 109 40 100 . Class B optional 16 W 109 90% 11% Niagara Hudson Power common....—1 600 4% 31%, Jan 37% Jan [ 300 : Roeser A Pendleton Inc—* 24% shares— Y State Electric & Gas $5.10 a 7v ; : 12 Radiator—.—-—.1 c—1 Jan 17% 60 23 40% Y.:4[.[[ Stix Dry Goods....—*——* Richfield Oil Corp. warrants — Rice 54% Feb,' , Jan 3'/a 1,300 750 : Jan 24 55 Reliance Electric A Engineering...—.8 Jan Shipbuilding Corp Founders N 23% 11% 9% Merchandise*. N Y Jan Raytheon Manufacturing common—50c Jan 57 '■ , Feb Jan 11% warrants*-. 39. 21% Jan 32% 38% Raymond Concrete Pile common..—* ii »3 convertible vreferred—**—*—• *17% Feb 11 common. 32% Jan 49% 54% Feb Honduras Rosar<o— & Y'v:4';[' 10% Jan 6% Jan 375 23% [ 4% Jaa .... Jan 72 25,300 10 9 22% [ Jan 30% Jan < ;[ 133% Jan 40 . New Process Co common N Feb 128 500 [[[ 78% . 29% 50 31 . 80 Jersey line. New Mexico & Arizona Land.. 88% Jan 270 42 45% Co New Idea Inc common—— New 132 29% 133% 29% 133 Tel & Tel England . •29% S3 preferred— New ' 15% 3y4 2,200 17% Jan 16 Feb 11%- 16 Jan 2% Jan 3% Feb 35% Jan 43 xk Jan 41 % 290 37 Jan 44% Jan 8% 8% 3,900 6 Jan 8% Feb 27 y4 27 y4 Jan 27 y4 Feb 24% 25% 26 Jan 3 37 - V x38 -40 4,900 1,000 50" 10,200 ; 24% 24'/a Feb THE COMMERCIAL & FINANCIAL CHRONICLE NEW YORK CURB EXCHANGE ; RANGE FOR WEEK ENDING Friday Range for Week ./iff New York Curb % 6% Jan 7 Jan Feb 160 Jan '{■ Preferred Feb Products 23% 23/48 class 9% Par . -U.1960 ; s f s f 1970 f —1953 Y——195S;Xi Feb Assoc T & T Feb Atlantic & Co common Sterchi Bros Stores common 29 8 Sterling Brewers Inc Co Sterling Engine Inu Sterling- (J amines' (Hugot Stroock Sun Jan Bethlehem 23% 725 20% Jan 25 Feb Bickford's 3% 800 3 % Jan 41% -4,450 32 : 3% Jan Oil series J-J :,7 103 103 fi 109% 110 ''iff. 124% $123 M-S 104% 104% 104 3/a M-S 107% 108 t 109% 1193/4 $118 1998 6%s Inc 6s J 962 Edison Feb 124 104 . 2%s $113% 1970 1093/4 110% 118, 119% 113 'fi 10 115 105 „ 108 108 ' -10 f 108 80% 91%. 82 93 66% ' 73. Debenture Debenture $105%'-—>f 104% 106 58—W——1950 103% 104% 103% 104% 5b— deb Cbnv . 111% 123 1013A fX;ff7;f i 103 3A 105 7 v 107% 108 fi( 109% 110 ^.1960 Steel § A Chicago Rys 5s ctfs (part paid)_1927 Cities Service 5s_ i Jan 1966 V 105 Va 106% 104% • 9 72 ; 105 106'A ■V: S' vik;'. 103 y8 103% 102 % 102 . IA Central States Electric 5s——1948' fe; A 3.%s ' ——1954-. Jan 15% 10 ■ : 103% 1957 B C series Boston Jan 34% II •106 % 106'A Jan .;42::;yjan. Inc— Corp 5s Jan 44 38% - —i— ■ Pinch 5s 14% • 1 Cement, Portland Common M Jan Jan 39% 41% Machinery Superior 1st 8% 12 3% Ray Drug Co—— Swan : Feb Jan 3,300 21% (S) & Co common Sullivan 9% 7 13% Corp. $104% 105 J-J 1964 Elec 3y4s City High 102- Telephone of Canada— 12% —- Co common B) Feb Bell 16,600 1 Stetson Jan deb 5Vis A January 1 v.Low 10!?% f; $101% A-0 ; No. Feb 30% Products- sterling Aluminum 4'/as Range Since r Sold • High •- J-D ,**—2024: Elec Bonds Friday's Low J-J 1961 __ Appalachian Pow deb 8s Stein or Bid & Asked if f:'"; J-J deos Writing Paper 6s_ Appalachian Elec Pow 3'/48__ Steel Co of Ca ' M-S aebs 33/4S Feb " .—.1950 ;, Associated (A I Last Sale Price v'; debs Amer Jan % f s 3%s Feb Starrett (The) •" v., American Gas St Electric Co.— Jan 4% Standard S lver Lead Tube f Jan % Common class B— Jan Week's Range Interest Period High ,-' i, ..... Standard Power & Light Standard Friday ■••'V' Exchange Range Since January 1 */■' .YiYk^ffiYf: Par Standard ' > ikkkyk bonds Sale Price 7 FEBRUARY 15 Sales Exchange Curb York New Week's Last STOCK 8-V.*.;\-'7" Monday, February 18, 1946 105% 106% 105 106% 106% 106% 105% —————1969 5c EI Lt St Pr (Bait)— series N ————1971 , ; 106% Consol Gas 3%s Taggart Corp common... Tampa Electric Co common Technicolor Inc Texas Power & "i* —. Light 7% 33% 26 25% —.100 pfd Texon Oil St Land Co.———i.—_ 1,8064 9% Jan 1,600- 33% Feb 3,600 34% 25% Jan k>. 10%' Jan 122 ii: ..2 26% 28% 122 20 - 9% 9% 9% f 21% Textron' Inc 20% 21% • Jan 119% Jan 3,700 9% 20% 122 Feb 21,600 Feb ; Thew Shovtl Co common B ..—.a. Tobacco & Tobacco 41 1 Roofing Inc.'.._ Tishman Realty & Construction 1 18% 18'A Stocics.—..... , Exports Security Trust Co Ltd— dep rets ord regis " ' Amer dep 19% 69 69 f'A •')'• '. 8 """"" :.•!;y, : 'tjlXAShipyards Corp Todd Toledo '■ 7% Edison 6% . 69 Feb* 19% 71'/a " . A— 4s 6er B Eastern Gas & Fuel 3%s Feb 9% 14% Jan 14% 3% 40,900 2% Jan 3% 118 8 . 112% 118 100; Jan 10 108 Jan 114'A 30 114 Jan f :'< 41/4 10,900 3% 3% 8% 8% 45 * 5% • 340 114 1 — ; ' i ZZZZZi i v Ktt os & 12% Union Gas Union Investment of 13% 10o 43% j 45% - 4% 5% 2,000 12% 12% 15% 63^ Feb • 116% Jan Green Mountain Pow 4% Feb Grocery Store Prod 6s Guantanamoflr West 6s—— 15% 'i; Jan Feb 3% 150- 12% Jan 9% ,v;f42 • Y-\vc' ,• v - 128'/a Jan Hygrade Food 6s ser Feb : 11% Jan i ''/ 3,200 4% 11% 9% 9% flOYi ;!Y'. 14% Jan 8'/a 8'/a 300 i 9% 1st & ? *,;1 —Ji 5%s series B ref Sei vice 5s.—A —. Indianapolis P St L 3%s_—A— Unternational Power Sec— f:fA6-%s series'''' CM..— A6%s (Dec 1 1941 coup). " A7? -series Feb 73/4 , » 74 Power Co— Illinois 3'% Jan 10% Jan 500 ..if . 105 160 Feb 12% Jan 1,300 3,700 '• 105 tioi% A——J B— series 6s 15% Jan 1 f ;17% Jan 30 108% 108% ; 3%——— .-'V m- 1 Jan 1 100 *»4; / 5%, , . Feb 20 1,100 13% 4 Va 103/4 • 128% 161 Grand. Trunk West '4s.—*w.-- " Co 49% 1063/4 $105% 107 AGenerai Rayon Go 6s ser A:— Feb Jan 43% . 21,200 30 74% ..10 " 7 Canada 81% 39% $128% 129 A——. a 118% • 3% 8,100 1 Corp Manufacturing Co_ 72 1053/4 13 — 3% Power ,111% ' - ... Realization 20 YflO'f 106 Bank- 1st Hen & ref 5s Unexcelled M-S l9i»L .. stamped 5s Indiana Ulen 47% 47 ' 9% 24'% • convertible; preferred—f ;.v —f;.; Udylite Corp. 80% 80 106 Feb T-'' Tung-Sol Lamp Works Water Lt Elmira Feb 2% warrants __i 80 106 AT-S J-J .1965 Finland Residential Mtge 10 1123% 126 Jan 7% 200 .7% 111% 111% . M-S 1993 1st mtge Jan 3% j* ; ■W 1993 1st mtge 4s ser: Jan 4,200 1 Tri-Continental 80c Jan 14% ' Cnrp Inc 15% • xl4% 1—180 preferred; Transwestern Oil Co Trunz ' 700 109% 108% 108% of N J Division Lackawanna Gatineau Tonopah Mining of Nevada. T.ii* Feb •.*:> prpfprrpd Trarm 43 k Y21VV Feb 14% *; ■ Jan '. • def reg recs 40 '•16-;- Jan " — Amer 150 4,200 1108 . . Delaware; Lackawanna & Western RR— ' '" Tobacco 20% ' Product AHiea 42 19% 20% — 108% Jan Jan 1 Tilo mtge 3s ser P 1st ref mtge Feb 10% 24 : ref 109' 109 —1969 2%3 ser Q——1978 Consolidated, Gas (Bait City)—, < Gen mtge 4%s_. —1954 1st Jan 37 ' • common fiofk 9% 34 Jan A7s 1941 (Aug coupon) ' Union Stk Yds of Omaha United Aircraft United Chemicals 100 Products 1 common United $3 Jd • Products \ preferred y r 65,800 16% 16% i' 28% / 30 25% — Vi 21 36% i 163s ■Mfi J,, M 3,500 ; 15 dep rets ord United NJ RR United Prolic Jan Feb 100 10% —— Shoe Jan S U S U S Foil Co Graphite and .8 If;;-"; common 21 100 k/ii% 23 1,000 783/4 17 22% ■ 1,600k ,' 18% 2,100 6% 94 16% ii 7,100 ii; Extended at Nebraska U S Radiator S Rubber common United Stores United common.; New Eng Gas 5s Universal ntah-Ioano Utah N f 10 Co.r-^rM.,,„,w„* & Light N ^ , ~6% —.1 common ^ .5 „ . Y & • Ohio 5' . 104* Westchester Continental 1st 5 ' . ' • ' Waitt & Bond g. 3%s k • ext."• 100 claee A • ■ Class B Ward Wayne Went worth West West Western f.2fl Utility $8 preferred Coal & Coke Maryland Ry 7% 1st Stationery Coal—^ Iric1..'.. Wovenberg Shoe"Mfk_' Wichita River wiuiams (R . Oij* Corp.. & 32% 450 Products V'.'r.iipeg Elec common B * Vv.-iivertne Portland Cement Woodall Industries Inc m 15% 16% 8,100 Woolworth American 6% Wright For (F 48 25% 100 43 'J 18% 140% 34 ■ __ W; Ltd footnotes 48 25% ff 4 4f- 8% page 929. 100% 100%: 19 98% 100% AT-N 100% 100% 100% 50 99 101 .M -N 107% 107% 108% 9 .1961 l«4tt A-0 . .103% M-N J-J - — ' 103 — - 107% 1003/4 108% 16 - 10 103% 101 105 103% 105% 106% 9 103% 104 1106% , 98% 62 100% ' 100 103% 104% 104% 1964 .2004 Ltg 4s . — 13% ■_ :f 10634 101% 103%; Jan 1107% 109 Jan 103/4 Jan 114 Feb if;, 100 3,225 12% 600 10% 16% 600 ;; 16% Jan f 6afe Feb San Harbor F£b Real Estate Southern California Gas 29 Jan Spalding (A G) 22% Jan Standard Gas 31 Feb 16% Jan 11% Jan Debenture 17% Jan Debenture 14% Jan 16% Feb 600 11% Jan 163%' 16% 100 15% Jan . 6s - > v. £i 6s Jan ~6% Feb AStariett > Gas (Calif)— St 99% 100% 107% 108 % 105% 106 % 102 ft103 J-J,; F-A 1989 M-N - 106 108 110% 108% 108% 11 104 105 28 100% 103 110% 110% $109% —. f 104% 105 May 1948 — A-O ■*\ 100% 101% A-0 100% f 1-951 F-A 101% 1968 J-U 104 .—1957 F-A 103 % 103% 1957 F-A 103 »/e .1950 A-0 -94% May 1948 6s Dec debentures & Light Corp inc 5s 6s 1 1 ' 100% 100'/a 104 103 % 103 % 93 100 stamped 1948 J-J 42 94-% 42 • V* 101% V 24 101 102 12 101'/8 101% 103% 104% 30 103 103% 5 103 104 14? ■78 94% A. (Hugo) Corp— A7'4s 3d f Electric— 6s Power 125% 107% 108% iioi 107% f J-J 1970 5s . ' 1971 1994 Ry 2%s stamped..; gold Stinnes 4% Indiana (stamped).. Conv 6s Counties mtge 3s 108 106% 106 % A-0 Southwestern Gas at Elec 3 'as 1st 108% 125 1100% '-.kf".; A-0 Jan > 106 125% 125% M-S 55 f V .106 J-D J-D 1951 Jan X 168 MS 1965 3s 39% ' 107 3%s—.1970 Scuilin Steel inc mtge 3s Calilornia Edison Southern Southern Jan 169 105% . 1951 6s Feb Feb 167 106% 106% 1979 6s 3 Jafi 8 3/4 168 A-0 1952 4%s Feb 13% 36,800 Water 19 Jan 6% M-N - 1952 :— 24% 13% 106% 107% 101% 104 106% 107 \ certificates 45 16 v.. 103 106% 101% 102 — x Southern - „ 105% Jersey— New Joaquin Lt & Pwr Jan Jan 113 101 B 4%s Jan Jan 107% 107% 107% 108 108 of Colorado— of perpetual Jan Jan 105% 107% — extended (Can) Jan 18 87 107% 107% Co— Jan 24% 81 104% 104 Queens Borough Gas & Electric— 150 4 103% 106% 87 105% 105 % 5%s— Power Coke 18 100 "5% & Service -■37 v 104% 183 104% 104% Pwr ,4%s 40 1 kflOO :i-i Jan Jan 106. 107% 104% 106% 104 Light. 5s f 5%s series A Jan > 46% 108 104% 104% 1st mtge 3s Elec Gas Corp 6% 46 107 107% 107 4s—— 24 ; IOO 14% 10 Bi 15 1107% stamped Public Jan 7 -f if 61%. Jan 21% 31 16% Zj* Lea see 108 1103 — 100% ... Standard ; r M-S ■ if 1st mtge 3%s Sinking fund deb 4s_. Jan — receipts. preference Harareaves 26% 34- 250.. • 18% 1 deposit 8 3/4 13% —'■% •? 2 Wuoaiey Petroleum 115 723A 107% 107% ASchulte 43 j Jan 113 Feb Jan 114 f v-39 f Jan Feb Feb 49 f: 60 9% 23% Jan f? 7 2,100 Co Inc Jan Jan 5 % , 300 10% 114 - 31% 400 2,650 58% 10% 22 114 ' kV' 6% 58 20 10 ' 7% 114 6'% 400 — 34 ZZl 4,400 • 31% • 7 9% 22% — WiHson 115 ■ Utility Corp- Public Service Co -p'kfi- Illfl &jCq. ci pfdZIlOO codi.« Westmoreland (Wm • a Western Tablet &. Westmoreland Whitman — .5% 5 Manufacturing Texas Va 8% 22 7 Baking Co warrants Knitting Mills J-J Pennsylvania Water & Power 3%s 1 5s Co_. 107% 2 J-D 5s Power preierred 108 106% 112% , 70% its .107 13 72% (part paid)— & Power Portland Aircraft 1113 1st mtge 3%s—— 3s_ — — Power Philadelphia 7% 106% .1947 .1954 1st mtge Ohio Public Service 104 —— WagDcr Baking, voting trust ctfs 105% 103% 106% .1950" * A5%s series A 6 ———»l preferred....—.... Venezut'an Petroleum.. _"** Vogt Manufacturing..... Waco u no .1948 Penn Central Lt & convert!ole .1948 Elec & Gas 3%s State Pacific S4 ;5s^-k- Gas 5s-— Park Lexington ▼aiettr Corp 109 22 10g . $5.50 priority stock- 71% 107% 108 — — & El Assn 5s <deb Y North 40 —23% common .... . 4 -106 % 106% 106% Debenture 5%s —10 Equities common 72% 107% England Power 3 Vis England Power Assn 5s_— New wngar Power Ltuity New 2 Insurance Universal Proaucts 1 102% 103 w——— Conv ouo Consolidated Oil 106% 106% 106% —— A.———- •— ~2 V, f" . 4%s 4Va-S— Amsterdam New Jan Jan • Wallpaper, Inc____ Clversal 109% 109% Jan 3% 1 Reclaiming \ to————„- Gas Light Power 6s series - U '•,»! *• ,r f ' fU'—; •' 1115% 118 — 109 % Light 3 %s ' • Jf-j r v > ■ Midland Valley RRA~ Jan 89% 350 >' Milwaukee 46% •Jan: 20% Jan 3,700 - 17 x ', 5% 92 *! ' - 200 * 23 16% 5% •; '• Jan 48% 20% • & Electric 6s Power & McCord Corp 6s stamped.*.*— Feb 82% ; 20% 8 r-7.__ Securities 12'-Y: 4 Jan 80 j International • Jan 3% ■ $104% 108 Kentucky Utilities 48——,,..— 8V4 Jan 1,100 V;47%: 1 :j.. S5 1st preferred with warrants. 3% 11% 23 B class 100. -284 3% 2b '.£iL— '9% - ..-4 10 _OfiI common ^.7— United Specialties common—', U 9% 100 25c Machinery Preferred Electric Power 3%s— Kansas Kansas Gas ; iiC preferred. United •; ai regis 106% 107 4 Jersey Cent JPow & Lt3%s—. Kansas Canal & 5s__ 6s Superpower if 47 ;Jan -Vy.-"'V-'; Sharing— Power Debenture United Molasses Co Ltd— Amer ■. Fl—f (July 1941 coupon)^— series Aitailau Jan 25 '/2 ; " — - Interstate Jan 32% 15,900 'j f -M» ,* A7s Jan 1 350 28% * •" Jan 23% Jan 5,300 "1% kiji-m • V;.' ir, 26%; '.li'-'-ii';-' k 7 ' 24% 2 Light & Railways ' ;?•' 26 % • 7:7- 36% Miik participating 60 __ • .•• United uorp warrants United Elastic Corp United Gas Corp common United fY . 42 48 Volume Number 4465 163 NEW YORK CURB RANGE FOR BONDS Friday FEBRUARY Week's Rang* Interest Exchange Last Period Curb Sale Price; Bid & Asked Low Btlnnes 15 Toledo N J 40 % —1946 3%8 i United' Electric —.1968 NO. V t'V"' 4 4'*' V T'«"; Danish $106 'A 6s (Maine) 110 105% 5s V' • .'"'i,»1 Maranhao 105% 't. • stamped AMedeilin Utah Power & Light CoDebenture 6s series A A7s Wash Water 1954 Power 3'/aS M-S 1964 dibs income J-D 74 65 80 78 80 Electric Penn Penn Western 5s —2030 Traction 7s (Plan 5s- ;JC J-D 109 % 108 % 108 io8ya 1123% 122 — 1959 . F-A 102. 106% 103% ,102 - Curb 5.;- ' 'Interest Last ; or ; Sale Price Period stamped (Plan 7a Mortgage Sold ■£ Low No. High Bogota (see ACauca Bank 32 21%;, 22% 33% 35 50% 50% 20 Va 1972 23% $50 J-D J-D ;L.a* .$50 - ;. $23% $92 ; , 30 93 $37 ^ a'4•; 39 M-S 'PA-;'' '1 (Plan A>2012 J-J 1919 J-D nr8 11 J-J 11% > 11% Deferred delivery sale, a 96 37% 37 10% 38 53 51 10% 14 >'r 2% 6%s 1921 sale, 93% 37% * ' d $37 Ex-interest, 39 .V 12 : •12% e Odd-lot sale, "i 14% h Under-tha-rule xEx-dlvidend. salt, r:^\ sales being transacted during current week. no ABonds being traded flat. High U v ^Reported in receivership. * , ; . , , t!Ex liquidating cash dividend of $22.50, plus stock distribution. v " ■ Abbreviations used above—"cod," certificates of deposit; "cons," consolidated; Jar ol) _ 22% 96 94 28 : 35 High 94 90% $35 .. A-0 1931 IFriday's bid and asked prices; Range Since January 1 Bonds Friday's?' Cash Agricultural Mortgage Bank (Col) A 20-year 7a——Apri! 20-year 2 $36 . 'Af-N 1947 A) Government •No par value, r 'Bid & Asked Low A Low 90% 22% - M-N J-D 1947 1927) Rio de Janeiro stamped Interest reduced to FridayW'eek's Range Exchange t Interest reduced to 2%s—2008 Foreign Governments & Municipalities Fork 88 $30 1951 A5%s New J-J 2008 Mortgage Bank of Denmark 5s • ARussian BONDS + M-S . Newspaper Union— ; 6s cony s f debentures—- ; 96 123 % '> — , 96 ,81 107% *';t •;*. A-0 -—I960 — January 1 ' No. A) 2VeS to siamped (issue of Oct. Parana West West Range Since Sold High -■ ' , jAMortgage Bank of Chile 6s Waldorf-Astoria Hotel— A5s 1952 , Mortgage Bank of Bogota— ;./• a7s Xissue of May 1927) 114% 116 115% 11$% 2022 Bonds Friday's Bid & Asked 109% 108% 1108% 108% 1952 or Sale Price F-A ALlxna City {Peru) • e%s &tamped_l858 ; — A series last >. M-N 1953 Danzig Port & Waterways— A External 6%s stamped 107% I — Interest —1955 , Literest reduced United Light & Railways Exchange 5%s Extended 48 108 - Week's Range Friday a Low Co 1st lien & cons 5%s u Period £: 105% , n Curb . High 42%' 44 1109'/a i 10 J '4s—; & Power LOW ; 105% 106 1 Light January 1 ;V- stamped Edison United .Sold High u Fork Range Since Industries—: (Hugo) A7-4s 2nd New Bonds Friday's or 929 EXCHANGE WEEK ENDING u New Fork " ■: '??''• THE COMMERCIAL & FINANCIAL CHRONICLE "cum," cumula¬ tive; "conv," convertible; "M,*'mortgage; "n-v," non-voting stock; "v t o," voting trust certificates; "wy when Issued; "w w.":witb warrants; "x w," without warrants. : ^ v-? ^ Valley 7 8— ■ OTHER STOCK Baltimore Stock Friday • • 100X1 far Pflf ? ; Arundel Corporation 0' :0%■ ' —• _*—• LOW 28 100 Preferred f t o^a;^.,..........i..^.^.100 m vtc——1 Eastern Sugars Assoc com VtC.— 1 28 Low 25 1,227 22, 32% 18 18 Range Since January 1 '^0 5% >.;■ 5% 32% __ 18 ■ High Jan 5 Jan 40 200 ? 28% Jan . 15% Jan 6 * Jan 34 - 3014 Jan 1 -*>' i Fire Guar Corp— New 10 * ''*i\ V; • 1 54%; 32 Va 32% 75 76 300 " 90 ' 50 15 ' 200 14 . "V Jan X: 71 34% -Jan Jan ' Jan Jan V;; 17 77% Feb 23 Jan ,Jan Jan 25% Jan IVif Jan 1% Jaix no • ; Feb 133 y4 Jan England Gas fe Elec Assn- preferred 160 _____- : —- " 76 230 * Jail v..; Jan * 128 .v- Jan -Jan ; " 75c Jan J.7>745..-::^;1,':7dc:KJatt'- 'Old Colony RR—I——, 3,562 3 2% Feb Jan Common 6.75% *—20 ——— .20. —--i. ^^___100 prior pfd——300 cum 16% 20% 144% 144% 141 10Q10Q% 100 - Jan •% 21 Jan v 144% Feb , Ja« ':<■ Pacific Amsterdam Casualty; 5% Commercial Seaboard 115 —, Hole Folding Mach_ Rutland Machine RR 7% Shawmut Bondp—> Stone & Webster Feb Feb Jan 4"'17% Jan ;1S ■ • '• 2- : ■ — ; .-19ft —,r. 45 United -Drug Inc United Fruit 29% 19% 7 • 6% Jan Jan 25% Jan U S Smelting Ref & Min com. Waldorf System Inc___ 110% Week's Jan .78% 46% Jan Range for Week of Prices Shares Low w .■ 28 i 79% : 19% 44 20'.8 "* V").*;-1, -f, 4T* ''7 Feb : 71% - 178. 18 '31Vi Feb 118 •* Jan 83% Jan •48 Jan Jan Feb 83% -Jan Feb 20% Feb - (S D) Co—— 51% 52 37% —. 38% 23 49% Jan 52 34% 469 39% Jan Jan • Jan Sales Last Sale Price Par «•' 450 48 77 Westlnghouse -Electric Corp—». Friday 82 43% Jan . 'vij? '■ *-,;v 822 81 Feb ' 88 47 common— preferred Warren 31% Jan , 19 Ya •C'23% Jan *8 Jan Jan " 41% . BONDS— . American Range Since January 1 Low High High Tel , . 3s. Tel conv & ■ ' American Agri Chem Co com— 43% 44% 54% 56% 170 50% Jan 58% Feb 191% 193% 2,046 187% Jan 195 V'a Feb 47% 352 30% Jan 56% Jan 50% 633 43% Jan — Sugar Refining-—— 100 American Tel (k Tel————lou American Woolen ——a———• American Anaconda Copper 192% .ft ; 47% 41% —^.50 Bigelow-Sanford Carpet 6% pfd—100 Bird <&;8on Tnc-— 47% 150 150 23% 150 23% 15 23% 1 51% Feb 150 1-148% Jan - Feb Jan r 24 Jan Jan : "23% 210 ... 45% Jan 41% Jan 156 £ 146 Feb Albany RR--——100 Boston"' Edison — Elevated Boston j—25 Ry 146 145 ; 47% 146 47; 48 80% 160 82 100 81 _• 40 38% 40% prior preferred 5 % class A 1st pfd stamped— 100 88 85 89 100 20% 100 21 Herald Boston Boston Traveler . ... -:44% Jan • '•; ^ 7% Feb 43% Jan 67 8% class B 1st pfd stamped— 1% class C 1st pfd 18% 20% 20 21 18% Jan 91 Jan 13%" Jan , 441 19% - 21 152 16 99 . ' Jan Jan ; 22% Jan Jan 14 23 Jan ' 10% class D 1st pfd Boston Personal Boston & Prop Providence Calumet & Century Shares Conn & stamped——100 Trustj.'„ NR— Trust— 5% | 2334 11% M 25 30.0 Jan .20% . : 19 360 .18 57% 60 60 56 1 Jan Jan 62 . Allis Chalmers Mfg Co_— American Public Service pfd American Tel & Jan Armour Jan. 25 ;::&20 --I v Jan . .Adams (J D) Mfg common—-—i—* Admiral Corp common ——1 Advanced Alum Castings 5 Aetna Ball Bearing common———* Aro & 11 11% 10 8%'. Jan 537 36.27 & Fuel Associates—_ 36.27 I; 34.86 common Lines SS Public National Automatic . 1% Feb 100 ;;-73':'-;T3^:: 6% 6% X:. 6% 113 100 129% 100 32% _• 20'/a Service — Barber .Feb Barlow & Seelig Bastian-Blessmg ; .71 150 Jan 6% Febr- 20 r- 113 115 126 129% Co : — 107 31% 115 75 Bendix 140 30% 734 Jan Berghoff 115 20 Feb 36% 198 33 % Jan 597 8 61V8 341 _• 49% 51% 1,121 •; Jan 380 35% 20 v 32% Jan Feb Binks 21 v i Jan 20% Jan 11% Jan 13% 13% 14% 52 52% :■ • 800 10% 400 J Jan 19% Jan 52 ' 14Y8 : Feb 127 'Feb 56 Ya Feb Jan '300 300 192% 193% 15% 15% 14 ; 40 • Feb Jan 192% Jan 1 2,800 2,800 ; 12% 24 :l-; Feb 10,000 . Feb Feb „ 16 Jan " 7% Jan , Jan '15% :V: 27% :.Jan 5Ya Jan 1,300 Feb 193% / . Jan 100 134 : 19% Feb 8 1,550 3,550 9% Jan 500 25% Jan 500 191% Jan 21 y» 34% Jan 23l/4r3an 37 8y4 . Jan 14% Feb 28% 32% 528 A_ 12% 12% 50 2% 3--.J 4 4% • class B Copper v. 35 »" 1% 1,355 0—3 25 r Jan Brewing Mfg Kennecott Copper Corp Boston • 54% 57% (Del) 6% pfd—*——50 Theatres——-—--—..25 47" ' 47 19" 22% footnotes see page 937. v 585 48..; .r': 15 . 124 (George Borg 46 W) ... ; Jan 57% Jan 17% Feb 2,160 153V'jan 21 100 43,,rJ Jan 49% Jan —I 550 -9% Jan 5 100 43 Jan 45 ya Jan •200 10% Jan 16% Jan 1,000 22 y4 Jan 27y« Jan 10 Feb Burd -;-51^a Feb Ring Burton-Dixie Corp 1,300 2 5% J an 32 Jan, 10 • 1 150 33% B 180 108 y4 Jan 4% Jan common Caistle & Co 3 Feb Central Illinois Pub ...4% Feb Central 111 58 47 % Feb Jan 22% Feb Brothers Central S Prior Common (E L) common Piston — (A M) common—1_ Secur Serv Corp $6 pfd common preferred W Util lien Preferred —L__—12 Vs - * — 50o common preferred — 14"%" Feb 2.750 1 Brown Fence & Wire Butler Jan 53 " VJan 2,350 Brach & Sons (E J) capital— Feb Feb Jan Jan 26% Jan _2—10 Corp_. Jan • Jan .18% Jan 200 25'/a Jan 1 : 39% 32 y8 Jan.; ; > * ' 1 Corp capital Co 14 Jan 250 Corp common——5 Jan,.', < 150 ..10 64% : 5 common- common common Jan ..22% .11 *1,000 Jan ——T common Co Feb r - ;.;54% Jan 46^8 Co 'Convertible For 17% 930 4 class A Aviation Jan 129% v;r Jan . 1 i— Bakeries Royale Lamson 3,400 17% 3 common (W H) Mfe 79% ' * Inc common Feb ;r\l% . Belden 100 Gillette Safety Razor Co Hathaway Loews 19 Va 13% —1 Aviation Corp (Delaware) Washer High 18% 3.33% 134 -100 Athey Products capital Jan Low 20 ' common- Feb ,;.v; - Stores General' Electric ■ 13% —Pt Jan 124% 10 A— adjustment— pfd Class 13 52% Tel Co capital Mfg Co Bruce Co Isle Range Since January 1 18% Corp common-i——1 127/8 m 37.91 Jan 15% - 18% : 12% 18% -100 common 34% v.:'—,**' v^Vv'., 100 — Mass Street Ry Engineers First Co Equipment Asbestos --—-—10 6% Tst preferred series .6% preferred class B_ Eastern - 18 — —1—^_100 preferred Eastern ,24;-, - 10 Co-——— Eastern1 Gas n -'W'! Shares High Passumpsic River RR— Boston 6% 1 — — Preferred East -100 Hecla——————5 Service Cities stamped—.—100 of Prices Low paT ■ 82%* Jan Jan 38% 1,659 , Sale Price STOCKS Jan 80% • 398 . 49% RR—» Maine Si Corp . 1,789 235' ^<■136 Friday Week'a ,"* galea LastRange for Week . . Boston St — ;* • - 4% ;24 " v 11% 5 24%' 11% 122% 124 193 195 350" 250 900 50 1,280 " Feb ^ Jan 38% - .165. . 111% 114% Co— hUnited Shoe Mach 1 46 ' . 4 Feb ,.ai5,~.. ■Drill-l^rt-----^- Union Twist 6T'S ? ; Jan "17%-Jan1 ?i-743. com. Feb *"•47% : 10: Inc.—— 80% Jan J an .nornm-v Vernon-Woodbury Mills Inc— 20-yr debentuxes (subordinated). 4% STOCKS— • 105 Eleo. Securities yiorrington Co "50 41% 3% ;:rv; 2,995 pfd Association Suburban .—^•197d • • '• 73%.Jan 1,791 1,060 ' - Mt ; RR Button Reece 2 preferred-50 U S Fidelity & Guar^___—i.i.^.__.—-50 Baltimore Transit *Co _—: Quincy Mining Co X Reece TNew Mills • Pennsylvania Feb .102% Jan 6% Feb - v Mt Vernon-Woodbury Mills— ".Preferred Feb 56% j Cog-—, ■New England Tel- & Tel North Butte Mining.., pfd vtc^_-25 High -. Jan 32 % Inc_. Assn Low 11% 22% Service 5%% Finance Co of Amer. class A common_5 Houston- Oil of Texas 6% - Range Since January 1 • 14 Nash-Kelvinator Fidelity* St Deposit Co———U20 & J 1 Rac'g Sharcs v High 53% -'-J> >] t " , Narragansett Tor Week 13% Mathieson Alkali Works—'—*. Mergenthaler Linotype „• Vs Jan 18% Jan v common preferred National Fidelity Range of Prices : Low Maine Central RR Shares ■ Sales Last Sale Price for Week Hioh 26% I v t c Bait Translt Co ^common vtm STOCKS— Sales Range of Prices . Sale Price ; Week's Friday Exchange Week's Last EXCHANGES FOR'WEEK ENDING FEBRUARY 15 RANGE .27% Jan 21 10% 115 184 Jan Jan Jan Feb Jan liy4 . • Feb Jan - THE COMMERCIAL & FINANCIAL CHRONICLE Monday, February 18, 1946 OTHER STOCK EXCHANGES RANGE Week's Range Shares States Central Pr 5 Chicago Corp common— in¬ — V Co Uten 31% 10 common— com——* Co Consolidated Biscuit common ■7*< 8% . 21% / A——* Common part shs vtc B ———* /. Container Corp of Amer com—__——20 Crane Co common--—-— —25 Co com part shs vtc Curtis Decker ' 48% 81 Feb 140 Jan ;. • 7% ,1/ , 353/4 25 Jan Jan 3% General V' Jan Jan /;'• 20% Jan 44% Jan Jan 42% New ;• 100 Jan 9 Jan **-4— 100 23 Jan 26 £-?\ Iron York ;/, ■ Corp-——-5 28 27% 28 Elgin Nat Watch Co ——' 15 59 58 59% 17% Corp 22% 51% 12% Jan of capital & —».—* America Inc—-——5;' Mills of Flour J 19 ' i> ' '• -I\ c, , Corp Hainischfeger Studebaker Corp common^.—.—! 34 300 Hibb Spencer Indiana Steel : - 69 26 24% '• 27% 33 9 — 383/4 Co & Hart 33 33% 163/4 16% 163/4 133/4 133/4 100 14 % Brewing Minneapolis Co Chemical Co Monroe Montgomery .Ward common Cooker National Pressure Standard Northwest Jan 131 131 Feb 131 Art . Jan 17 Jan Jan 94% Jan 30 30 Feb 30 Feb 13% 13 Jan. 13% Jan 12 Feb 12 Feb ' Randall Class U S U 12 V '.-i. 45 ' ' 45 45 100 Y4 1003/4 23s/a 24% 100 36 100 36% 60 61 55 , 100% 23% 100 55 Jan 55 . 11% 12% 11% 1 51 — 51 51 51 48% 7% 49% 4 4 Ye n,^ k ... 4 83/a . A_ 34 Jan v Jan Jan 6 Jan 118% 120 Jan 34% 28% Jan 65% — 64% Jan 30% 29% 8% ——. 67% 30% 65% . B 7Ye 120 34 Gamble__, class — 120 ————. Playing Card— S :/ 30 ■ . _ & Feb 14 '•. Miami gtd—— Procter Feb 91% 36% — . Lunkenheimer 6% -8% Jan 61/a Jan 67 Ye Printing— 67% 62% 41./'.; 51 42% 32% Jan Jan UnlistedAmerican City Ice Rolling 1UTHT & .25 Timken 31% 753/8 783/, 21% 22 46% 47Y8 63 Ye V 36 3 3 Ye 31% 11% 63Ya r / 27% 119 ; Jan 36 Ye Feb 28 Ya Jan 33% Feb 27% •428 Jan 34% Feb ' • Motors Pure Oil 33% 32 Ye 31% — Columbia Gas General 36 33% * FueL-rf*-^— City: Service—; 12% 6 r. 12 Ye 169 9% Jan 14 Jan : Jan; 80 Jan - 10 <77 '.368 74 95 22 Jan 23 3 4 5 433/a Jan 48% Feb 25 63 Ya Jan 65% Jan > ' ; — Roller- . '. — .'-v Bearing-, ; ■ Jan common—2 10 common 20 common Bancorp 110 /•ll%/' Little common—* common Car American Jan 13 Insulation Leonard- National Cylinder Gas common-—-^-1 National Feb 109 Jan 17 ; ^2 Standard Brands North Feb 5 Ye 94% . preferred Kroger, * common & : Co 14 16 — 1st 10 1 — 12% Jan 110 ■ vtc $1 prior preferred-. Jan 14 115 Yards. — Kahn 111% 111% — Warehouse. Stock ■Hobart.->,A''-j.ii.^«.ii— 100 • Union — Inc. common, 22% Feb 16 131 ;• •: too Gibson ——100 ^ Masonite Corp common—-———.-•* Mickelberry's Food Prod com——1 Middle West Corp capital ■ | Miller Jan Jan 111% Jan ■{'—- Formica 8 * common 17% 15 94 Early & Daniel.————.. 16 • preferred 4% %. preferred 22 % 15% 110 — Eagle-Picher common Field Marshal] Feb 1 , 94% Preferred 33 100 >AiJ V." Jan 6 6% 114% 115 '• -kk Dayton & Michigan gtd- 39 38% 8 6%, preferred $ 19% X15% ... .. 'L i.' ■ — & 5 16 Cohen (Dan) 9% 18% 1. Telephone Cincinnati 43 —————.t.——■— Cumulative 15% Feb Jan 13% 0 , . Cincinnati Tobacco 21% 33 Crank —— Cincinnati ————* si * i loov McNeil & Libby common 7 Lincoln Printing Co common 1 v Lindsay Light & Chemical com * % 1% preferred ——————10 -r Leath 46% 13% 5 15% "...14... Cincinnati Street 58% Prod common——1 Kentucky Util' 15% High 43% Jan 1% Jan 22% ■ —— Ball Preferred 22 /-58/- — Cincinnati Gas & Elec pfd— C N O & ,T F—L 27% 203/4 21% -i—;-w— Preferred ■ low 44% 15 — —— Cincinnati 69 21 * Range Since January 1 High 43'/4 -4%' preferred—. . Churngold 23% 58 Drug Co 43% Burger Brewing 22% ■ U& 24% common————-1 : Kellogg Switchboard common—* •r 31% Co Interstate Power $6 pfdKatz 28% 69 (new)———1 Shares 14 26 capital-—.-—10 Indep Pneum Tool vtc new— * Brick .Warrants- 10 78 3/8 13% Inc common-——,—5 Hupp Motors common Illinois for Week : 5. if.), 10 (Geo) com A-——wi-—* Hubbell Harvey Products Machinery. Baldwin 31% common——25 Bartlett 16 75% ..Vv'-C- —10 Hein American Participating 14 ; Laundry Sales Range of Prices Low American 21 77% 'J $ V I1;' A tf common: Week's : -:: Sale Price 10% 25% 15% Brewing Co G capital——1 Werner Motor Parts 8 Co Jan / 33% 20% ——5 Heileman Hormel & Feb 69% Jan STOCKS— 24% common *• Jan» 40% 25 1,050 32 —■ 1 Preferred ————————100 General Motors Corp common 10 Gibson Refrigerator Co common 1 Gillette Safety Razor common * Goodyear Tire & Rubber common * Gossard Co < H W) common—.. *.' Great Lakes D & D common —* Corp Finance 10 10% 25% 10 Drive Auto Candy class A— General Jan Feb 23% Jan Last xl8 (Peter) Brewing common——-1 % General , 71 Friday Fox Feb Jan V-'V-kJ common Four-Wheel 20% 35 common N Feb 25% - 2 Feb 26J/a Oil Feb Feb 51% Radio Corp of America common-^—• Republic Steel Corp common • ' Feb 12% • common Corp__ (The) 18 Co 12% Feb 42V* Jan • Connell Dredge & Simons Dock High ; 25,750 /7, .v; ' *W» • .Vvyv Electric Household Util Fitz 200 V IOO .8% - — 200;. 283/4 Co Central RR Pure Oil Co Feb 102 : ' ■ 8 1 26% 32 3/4 283/4 -.?; — 38% " Paramount Pictures Inc v <>' Jan 10 38% 10% .Feb 38% Feb 800 Jan 40% 39 5/a 120 12% Range Since January 1 tow."", 12% —1 Electric Nash-Kelvinator Jan 30% ' Feb 20 Jan 100 32% i'/.V, Dodge Mfg Corp common—————• Doehler-Jarvis Corf) — 5 Domestic Industries Inc class A- 101% 102: 12% Shares 10 Ye Jan "■ 100 : 42 Curtiss-Wrlgnt Feb Jan: Jan 30 50 20 34% Feb 2% 50 11% American Radiator Ss St San com——* Anaconda Copper Mining 50 ' 323/4 / 20 4,900 ' 44 for Week High. Unlisted Stocka— Jan Standard 102 Range of Prices Prlcq Jan Interlake '• • ; Feb Jan?p. Machine capitaL——8 Zenith Radio Corp common.^— , & Cohn Inc common—10 (Alf) - : 65 Jan 3% 42 1 (new)--——100 Lighting Inc common———2%, Cudahy Packing Co— . 4%% cumulative pfd 20 ia 10% Jan Yates-American :Z Feb. Jan Jan ; 650 22 Jan 93% 8,400 Jan. 40% -63 , 450 30 16% ; 28% 21% 30 44 • W':-: 83/4 2% Rights w i Consumers Jan 100 33% V, 323/4 21 ,/ 500 32 83/a 32'/a 25 1 Commonwealth Edison common : 20 >'■ 135% 135% common———.—-5 Corp Aluminum Club V 20 Feb 8% 59 400 250 Chicago Towel Co com cap Service : •'14,250 0 10% 93/4 >.l4/;/ 225 -v,-. • •/: Chicago Flexible Shaft common Chrysler ' ?:k preferred ——; convertible 50 22 >. Sale Low 14 213/4 ; Last Range Since January 1 High 14 pfd Lt & Burrell Corp common Cherry Cities <:•' Low Pot 15 for Week of Prices Last Sale Price stocks— ■/; WEEK ENDING FEBRUARY FOR Sales Friday * Nor West Util prior lien pfd———100 7% —,—100 Shoe common 2% preferred Bush Nunn » Friday Oak Mfg common-———. Omnibus Corp common——i.. Peabody Coal Co class B com—— for Week Shares Addressograph-Multigraph (Un)——-10 Circle Perfect Co Potter (The) (The) Pressed Steel Process Quaker Oats • Rath Allegheny -' ♦•'•' common. Co Cummins Corp 33 32% "ll capital * 22% 42% 420 31 43 11% ; v 43 11% 7. Xl9 ... Nat Stockyards capital Standard • —20 preferred Dredge Standard Oil Co capital/.—. (The) Co •. 19 38 300 33% - 19% 37 233/4 28 • capital Transportation cap. — 8% 40% 8% Jan Woodall 17% For High Jan 4IY4 Jan Jan 8 Ye Jan 5% Jan 8Y4 Jan 17 420 831% 832% Jan 187% 80 145 Jan Cliffs Corp common——-.i—u5 common com .see page 937. — Jan Jan 12% Jan 20% Jan Jan Natural Gas :. 32 % > ..—.15 18 Jan Jan 195 Feb 333/4 50 39 40 41Y4 1,200 : Jan Jan 52 Feb Jan / 80% Jan 10 36% Jan 80 "58% --360 "22 '/e a42.. * 865 Ye a663/8 Goodyear Tire & Rubber Gray Drug stores— 41 — - 200 %' • - 91 47 . " 95 41% 51% ■ ■ v. 25 V* Jan 45 . 100 vJ- 50 Feb Halle Bros Feb Preferred -i Industrial Rayon (Un)— Interlake Iron (Un) S Jan 83/4 Feb Jan Jan 22 Jan 41 Feb Jan 30 Jan 51% Jan 443/e . ■«/ Jan 9% Feb 1,400 v; 38 37 37 17 Ya 173/4 18% 1,100 16% 16Ye 150 —1• 150 a42 23% . Jan Jan 44 Y8 -Jan 71% Jan .V 233/4 25 Jan 26 —100 31 31 370 31 Feb 33 Feb 100 Great Lakes Towing common— Preferred 73 73 / 235 73 Feb 78 Jan 34 35 % 105 31 Jan- 130 54 Feb 133 65% Jan/ common——————5; — 50 54 —— - 54% ' a79 Ye a82 Ys • Interlake Steamship • ' * • al8Ye al8% / 54% Jan Jaeger Machine'— & Kelley * - Laughlin Island L 32 ;• & T- 10 Jan 46 Feb 523/4 Jan Medusa 79 Ye Jan 97% Feb Metropolitan Paving Brick— » National 1 a36Ye 7% 42 , 7 52 Jan Jan 353/e McKee (AG) National N class Portland & 16% : Jan Jan ",'V 20% Jan 44% Feb'/ Jan 7 Jan' / • 40 Ye Jan / 53 Ya Feb.; Jan 17% Jan 603 ' - 56% 46 46 18%. ;14V4 285 17% . %<, 32 Jan 15 Ye 56 * ,«i '30'/a 970 150 : /• Jan 56 40 ■j : Jan Feb Jan 47 -t; Jan l63/4 17% 60 | Feb Feb/- 18% Jan ' ; (Un) 39% Jan 37 Jan Ohio Jan 7. 19 Jan Patterson Sargent Jan 17% Jan Pennsylvania RR Oil Cement Mfg Jan " " *».: * B Acme Tile Y.Central RR Jan 33 17 ; Feb 54% 84% 182 V 7% Feb 35% 625 = ' 36Ya * Jan ;.. 41 . 83 a48Ye a5l% 16% 17 17 17JA < * Lamson & Sessions 32 1093/4 39% 13»/4 Jan 308 /. si; Jan . V.; i ;;4 "- : J,,, -'". Jan 51 190 '43 %. 44 Y$ Jan ■i 38 3/8 - ' ' . • 37 a50 Jan 28 Feb £ Jan 25 103 1,000 41% 515/a 200 :r common Jan 25% 180 46 47 95 } 53% —— Jan 373/4 500 106 y2 108 Y4 / 29% 53 (Un)_. 203/4 8% 1,600 Feb 17 « Co 37% 20% ' Feb 48 vf/64%: Jan . 40% 200 150 : 34% Jan Jan Jan 74 260 312 Feb 37% '/ Jan 32 102% 46 Ya a51 Ya a75% a79 Ye - Jan 21% Jan 500 / Jan 26 V* 140 General Electric <Un) —-t——-10 GeneraL Motors Feb. 43 147 193/8 a20% 33 Jan Jan 57% 1,132 ; Jan 27% 98 10 a45 Ye a46Ya a 28 Va 86 a63Ye a63Ye .Erie RR (Un)——— . 19 3,300 ; -/v; 6 Z 20% , 31% 1,200 16 Ys common Bankshares footnotes * 32 125 30 45 Jan 27% 5 12% _ Indust 17 8l91%al93% 99 24% Jan 200 8% 20% 53 « common Wieboldt Stores Inc Wisconsin 17 —100 99 Jan 22 2,700 .8% 40 « Western Union Telegraph common— 100 J' Westinghouse Elec & Mfg— Common ——5 Feb 9% /:/ 28 41% —6 common common Walgreen Co Body 30 27 36 /• : 20% /• ■ • ..25 Union Carbide & Carbon United Air Line 180 7 10 31 Jan 200 373/4 •'42.-'-' : 28 8% 208 South La Salle Street Corp com—* U S Steel 7% —1 Cleveland Cliffs Iron preferred • Cleve Graphite Bronze (Un)——1 Jones Trane 8 Ye City ■ Ice & Fuel™ Clark, Controller 23% Feb 800 22 233/4 ...,10 of Ind capital Jan 1,300 35 r 1 Sterling Brewers Inc common Bundstrand Machine Tool common- —8 & 880 Feb 106 29 500 I8Y4 xl9 ? 19% 1 Common 32 - .100 ' St Louis & low 8Y4 •8Ya Glidden v / Strap Co common m Sinclair Oil Corp ±—i——— South Bend Lathe Works capital- —8 2 Spiegel Inc common Signode Steel Swift Jan Consolidated ft v>. 1 class b common 23% / 30% 22 31 33 23Ya —- common.—. —1* Roebuck & Co capital-.. Serrick 102% '20 106 > .. -10 common Sangamo Electric Sears 106 —. Raytheon Mfg Co Schwitzer —— Range Since January 1 High 15 ——500 - American Tel & Tel—- • Co common^ Packing Coach low 837% &37% common—— '• v-- « Corp American — common. (if .' • Akron Brass Mfg-—-, Co— common Car Corp (The) Sales Range of Prices Par RR capital Peoples Gas Lt & Coke capital- Pennsylvania < Week's Last Sale Price STOCKS— .' fUn) • • -' ■' 4 a31 • . —I——50 10 810 323/s 6 3/8 - /. 257 a32 Ya 32 Ye Jan Jan'/ Jan / 39 <- Feb 7% Jan; 35% Jan 23 Jan . • * ' -' a21Yu a21% , 26% 26 Ya a46Ye a47Yt 75 • ; ■••110 ■a /■'.•••./ 78 21 ; Jan 24 Jan 26% Feb 42 Jan "<•' 47% Feb Volume THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 163 OTHER STOCK EXCHANGES RANGE FOR WEEK ENDING FEBRUARY 15 Last 1 Radio Corp.— ■ ; Republic Steel A Richman* Bros «. S Steel- A'4 ■i•r'-Vv- 110 29% —_ — 18% * Jan 23% 57% 29 107 ' Youngstowh Sheet & Tube ■' ; ; COMPLETE INVESTMENT Jan: Member Los 68% Jan 07%? Febi - Co., New York FAIRMAN & CO. Feb Feb Jan 33 14 Jan 15% Jan 96 37% Jan 44 65 74% FACILITIES Listed ; ' Jan West 7th Street —LOS 210 AN6ELES—TRinity Friday for Week of Prices Shares High Douglas Aircraft Dresser Watling, Lerchen & Co Co * Industries-(new)_ a93 % a94% 50o a277/e Products Corp*- Emsco Derrick Members ■ New* York" Stock Exchange New York Curb Associate Detroit Stock Exchange Chicago Stock Exchange & _4 * Equipment Co 18 5 Stores class A Garrett Corp Motors ———2 Corp "A" — Allen Electric 6% I Baldwin Rubber Burroughs f . : , Machine- Edison Iron Gray Detroit Steel 203 15 V2 Jan 4% 2,135 3 J/4 tttghy m Jan Jan 19 22% 582 * 18 500- 19% 21% 19 Jan 19 Feb 19% 8% 6% —.— 27 % 25 2,418 - 200 6% 6%; 12 8% 3,646 27 . , ,5% Jan 7 Jan, 12 Monogram 27% 24 16% 17 350 16 Jan 18% —. 6 1,400 Feb 6% Jan Industries— Wood 15% Mfg class A Gemmer . General Motors 14% — —10 Goebel 12% Jan 42% 200 41% Feb 42% Feb 79 1,042 74% Jan 80 7% 14% 1,035 6% Jan 14% 1,580 ,10% 7 13% '15% Corp— Jan 15% Jan Co Bearing—,— 24% Hufd Lock & Mfg—.—-—;- Kingston Products Kinsel Drue LaSalle Wine3 23% Jan 17% Jan' V rlMIs 430 8 330 7% • 25% ■ Jan 9% 9 Jan 3% 3% 3% 3,250 36% Kresge (S S> common——^— Masco . 36% 37% 235 Jan 18% Jan Solar Jan 4 Jan 39 Jan Die I; Packard Motor Car—— 11% Park Chemical Coi common-. 12% 6% Davis common— Parker Wolverine Parke; 29 — \ 1,840 830 6% 6% 4% 4% (H' W) Co—- 5V'a Raisin Paper 12 Ma nufacturing Shelter New Simplicity TlVoU* Brewing • 6% 1,400 common Dist— U S'' Graphite U S 6% 20 , . Feb' 13% Jan Alaska e%: Feb 950 Jan 8% 300 10 J& ri 16% 200 16% Feb 16% 510; 13% Jan ——AA. 16% 62% 349 53 Feb 58 Warner Aircraft < common 6% Wayne Screw Products—. 11 4;695 11% 5% 4%- Jan 685 . Rad American r 12. & Mhg. Col- San & Tel Viscose Feb Feb 60 -Feb y Feb . 14c, , Jan 18% i . 20% A ... Jan Jan 23% • Feb Jan 39% 45% Jan Feb A' .31% Jan 32% Feb; A: 30% Jan 31% Jan 42 Jan - 57% : 49' ; 30 Jan 19'A Jan V;A- Jan 65%; Feb A Feb 2,617 y 42 y 45% 49% 30% Feb 21% Jan ; - Jaa;Ai'y 37 — 25 Jan 21 Feb 25 Feb 33% 25% Jan 33% Jan 75c 1.00 Jan 27 1.05 Feb. Jan 8% Jan 12%< Fefc 17,000 12c Jan 18C Feb 17c Feb 20c Jan 40 1,000 17c Feb 13c 15c 3,000 12c Jan 2.50 2.50 200 7c 18c 7%c 22c 5,000 14,000 19% 21% 2,403 al91%al93V2 a68% a69Va 375 2.50 7%C 20c (111)_ a69% 2.15 Jan 7c Jan ,14c ^2.60 Jan Jan Jan 8c , 24c Jan" — -13 —5 — , - Feb 88 2,158 15% Jan 109 ■ Jan j'T 36% 14 % Feb Jan 38% Jan 14 22% Jan 25% 80 99 Jan 112% 25 33 Jan 33 — 52% Jan 54 , a30 % a30V2, a52 a54% Feb 9% Jan 35 435 Feb Jan 109 34% Feb" 175 a23% a23% Feb Feb Jan 50 a49 % a51 % 48 21 21'A 735 45- a51 % 5 1 Feb 49% al06V8al09% . — Company—15 Borg-Warner Corp..—-- 194% Jan 12% 1,595 a35%ca37 al09% ————* 43% 730 49% v 15%^. , a37 Feb 21% Jan ' — —3 17% 192% Jan 153 14 al02% al05 " a34l/4 a35%13% ; 12'A 13% 100 ,--——25 Refining CO—-— Corporation 47% ^ 15% ^—5 1—— RyGo—-u—— ; v Airplane Company———5 Borden 8ales■' al93 ,_14 — Boeing 21% * Corp—- Bethlehem Steel Corp. 45 . Jan ' Range STOCKS- Sale Price V;'';:-v;:7;.:^ Barnhart-Morrow Diamond Chica Bolsa Cqrp_— Oil Dept Broadway i_A&—:.2 Corp.— Stores Inc Investment Aircraft Chrysler Corp conv * new - a45%' America; footnotes see • • Inc page 4W Jan __ I 937. r 6% 50% ; , Jan Cities Feb Columbia Gas Jan Commercial 1.00 0 Jan 7% Jan Commonwealth 21% 21% 24 41 114 : 220 21% 24 U 300 133% 133% 54 Jan • 6% 133% Jan 45 . JanJan ; 176' .0 Jan Crown Feb 17% Jan> ?•" 23% 23% Feb 24 Zellerbach Class A __ — ' * Company: Corp:_ Corp ; 25 * I ——1 —5 Corp————-5 —— - 1 ——————————1' 5 a31 —. " a32% \ 4% ■ r ' * 22% a36%— 11% a33% a34% 10% 11% - 30 41 a31%" ia32% a32% . 4, 4% 29% 29% ' 22% 22% a36%a37% 19% 45 135 10%. 655 12% 13 a21J/2 a22 a22' . 22% — 42% •' 26% ■..•30% 1 24% :.V^.925 45 30% 26% • / - ■ Feb 13% Jan 21% Feb 12 1,364 Jan Feb 32% Jan Jan 23% Jan 18% ;■>: 530 100 : "4"% "2%. 29% 10,267 . 30% 112 Jan Feb > 31% Feb Jan 12VS Feb 393 27% Jan ;; 33% Feb 22% 125 20% Jan 22% Feb a49% a51% 539 47% Jan 51% Feb lift 15% Jan 32% 32%>32%. — 22% 8 1,970 • ' General Electric Co— '• 45 Jan 33*% jan Jaft'V.; 21% 120 Jan 47- Jan Feb 145 a72% a73% 13 • Electric Bond & Share Co Feb r > Jan 272 Edison * .—10 Corp Corp- & Southern Aircraft Curtiss-Wright Corp^ Feb 133% Feb' Vultee Electric Continental Motors Corp— Continental Oil Co (Del) Jan* 9% 415 • Cons — Co——-. & 1 25 Co— Solvents Commonwealth Jan.,,:. — 25 ' • 9*'-V Service Jan Jan; 48 25 110 155 Tractor 7% 865 : Railway Co——25 I) Co——— 5 2,698 ' a45ya a45% 5 ——— For 49 (J 80c 200 a34% a34% 8 —* Case High Jan 50 preferred————20 of : 155 Consolidated Steel Corp_ Preferred Creameries 1,300 7%. l * . Iron 2,870 5% 100 a — — Colorado Fuel & 5r/c Corn—; Co__ 4%. 97 Vic 7 7%. Low Pacific Caterpillar 5% • — California Packing Corp common— Cessna /■ .5% Canadian Range Since January 1 High 4% ; 90c ; ... Shares 1 common—* Byron Jackson Co— Central 4% Consolidated——1 Berkey & * Gay Furniture Go—*.*1' Blue tout t; for Week of Prices MiW' f Bandini Petroleum Cp ... 2,345. . 34% Jan' 45 JA Feb 30% • 260 + Feb Jan 25c Feb.; 17c — m Co_———100 Corp—- Baldwin Locomotive Works vtc— Barnsdall Oil Co Week's Jan 27% 21 36 Jan Jan- A Jan 23c . Jan 43/s 10 17c — 250 25o Copper*Mining'Co—50 Armour & Co Jan Aviation .... *v Jan 200 65c 17 y4 ■ Jan 10c 100 : alO% alO% 16c 17c r I < —-1 Stan Tel Anaconda* Atlantic Friday A Jan Unlisted' Stocks^ Amer Feb' A T &.fi'.F \a Feb 53% 25 85c — 10c Imperial Development Co; Ltd Mining* Co-—— 6% Jan" Jan' Co__ Zenda* Gold io7/a Jan 16% Feb : Mng Co—.-.;—10 Mines Gold American ; 25 23% 10% 15Q a29% a30% ' Cons Chollar G & S Mng Co_——1 62%. Jan 10% . 25% 24% ———1 Jan 26% 1,753 a59% a61% Co—10 Feb Jan 16% 10% Oil 20 Jan A -63% 8% , 74 30% 19 20 Inc. .—*5, Inc—— Gold Gold Cardinal Feb 13% Jan Jan" 8 Juneau Calumet Jan- 8 - Jan 12 , y *.—2. 36% Jan •15% Jan *.V3% Feb' ■■■370';% y 46% 30% ' * U - : Jan Jan 215 : a41% a43 Ve 45% Feb 44% 43 Vb Feb 55c . , 10 a61% a64% 46% Blacks Mkrnmoth Cons Mhg Coi-fe—lOo Feb 8V8 9% 6% Jan: 400 8% J.'"-'. a64 2.70 A;- 8% 870 31% ■■ Jan Feb 2,408 49 32% 31% Jan Jan> 37c Feb ? 16 —. common Preferred 13 8 common——. Radiator 13% Feb 13%' Jart ■ 6% 12% Shirt United 631 Lines 37% 49 Jan 1.50 c: 59% 6,300 2,255 }' Feb 36 5,100 19% Jan 10% Jan Jan Jan Feb 8% Mining Stocks-^ Feb 8% Jan 1,120 ——. . Investment Union 16% 8% 24c 37 H to 0 , Jan 1.00 1.45 800 1 v 23% A 55 100 12c 18% y, Jan £ 41 43" ; 505 60 32 y8 Yosemite* Portland Cement preferred_10 Jan 6% Feb 9j/8 —————. Udylite Co 5%- Jan Jan 13% Consolidated Air 9% Jan Jan 25c 4,078 , Jan Jan 8 >,£ 1,702 2,300 . 43 202 6% 90 4% Feb 43 347 17 :h 1.50 Jan Jan Jan 1.05 y 20,030 :• 10% 49 9 L35 41% 110 32 .9 Jan 4% Jan 6% 7% common-. Western' Jan 7 11% 1,270 ■■'-h' 800 13% Patt common—-. Standard Tube B 31 Jah 650 20 Universal 2.40 24c —25 Jan 20% 200 200 21 37% 30c Feb 7,800 44% Feb 1.55 Jan >' 19% ; 200 9% 1.40 19% 25 • 7,050 3,920 1,400 33c 12c , UnlonvOil bf California—-—--.23 Feb < —25 Corporation Transcontinental & West Air Jan Jan 1,595 9 common 5% 420 8 19% —. Jan 959 12% ; 7% 39 : 7% —25 -— Trunsamericu 12% Feb Jan 1,925 . 5% 7% : Bcotten-Dillon 36 29 Prudential Investing- River : •30 Peninsular Metal Products-. Rickel 10% Jan >5% jan 2,690 7% 38% 38 1.50 Jan 1.05 Jan 26c 9,600 36 >59 Calif Edlsoh Co Ltd——>.—25 Taylor Milling Corp.-*—w Casting— 4,900 a273/a a27% 12c - - Bouthern Pacific CompanyStandard Oil Co of Calif- Murray Corp common Jan 8% • 23'A * - preferred class Ba— 5%% preferred class C— Southern Calif Gas Co 6% pfd Products*:-:. Screw a27%' — McClanahan Oil common Miohienn 1.50 9»A 9% 6 %* — Feb 10% 25 16 y4 Jan Jan 143'A 9% Jan 1.90 38 57V2C 60c Co Original preferred Feb 43 91% - Jan Jan 120:.: 3% ,, 1.70 & 27 a63% 163% 16% ■ • Corn: Aircraft Southern ■v .} 9% 2.20 -• Feb Jan 1,375 ■ 9% 50 Jan 89 ; 2,875- 9'/a V /• Feb Jan 3y« 35 .1 V. 64% 32 1.45 1.40 10% Safeway Stores, Inc—*— V Security Company Sierra Trading Corp-—1——— -25c 1 Signal Petroleum Co (Cal) Sinclair' Oil 175 705 ; 9% 8% 9% ; — —— 18% 9% — —— 24% 18 18 1 Jan Feb .Feb Jan 36 — 25 32 V 405 30c T'.-.'.v: common- 79% Jan 50 a43 JA — Hoover- Ball & Hoskins Mfg common—:—*•—_ ■ 19% 45 2.25 common,„ 13% Jan 64% 1,800 ' 29c i.icr :i 7 : 9% Ryan Aeronautical Co———. Feb . 31c — Oil Corp commonWarrants \—v—— 1 : 44% Oil 38 Jan 21% 6 1.40 Ltd-^. Republic Petroleum Co Feb Jan 10% :'S 1.75 26c preferred-—4—^ Ranch Feb 9% :*; :>75% • 245, 7% '45- — 8% —1 ■ Co_____ Rice IS Jan ' 1.35 Richfield Jan '■ 7% Brewing ————— Graham-Paige common 935 76 77% 15% 42% — common—. 5% Oil Feb 8 v.'i-.- Jan 51 a40Va a40% Mng & Dev. Co Corporation, 1st % 500 a200%a200% —100 — J 19% 1.40 Co 5% 1st preferred Pacific Lighting Corp Jan 5% 1 ■ A Federal Motor Truck—:— Gar Pictures 6% Feb 100 1.40 / Pacific Oak & Elec common—*— • Feb Jan 510 .—10c — Mt Diablo Oil, Feb 9 '* 12 27 Co Petroleum Nordon 27%: Feb u . 36 9% ' 9% Jan Jan Corp Manufacturing Co 23% Jan Jan 38 ——i.——_10c Merchants Jan 27 com. Corp— Frankenmuth Brewing Friar's Ale..—— Oil Menasco ; Jan 23 Jan Mascot Jan 4% 21% Jan 200 22% | 6% Feb , Co 1.70 1 Los Angeles Investment Co Oceanic 9 .27'A Stove 4% 18% , 4% 22% common Detroit-Michigan 7,785 19% Detroit & Cleve Navigation:. Detroit I'ow Feb 19% ;.y •';• 188 a32% a32 V'4 Lane-Wells- Company -i..—1; Lincoln Petroleum Co———10c Lockheed Aircraft Corp——-— l Range Since'January t ■ 6% 22 Consolidated Paper Continental Motors common. Detroit 18 4% Adding High 5% ' — McLaren Brown, Shares* of prices. Low Petroleum Oil Feb Feb . 120 . 884% a84% a32% -10 Hupp > Motor Car Corp- 13% a65% a66% * Jade Feb 14% 385< 16% 250 , ';','j'-24%/.24%.' 1 Hudson < Motor Car Co*— Hunt Foods Inc common— InterOoast 8%. a75% a79% 24% common——* Holly' Development Go—--— . 13% > 10 common Corp common—_———*• Goodyear Tire & Rubber Co com. Hancock Oil Co Sale Price 9,175 20% Feb 370 730 IS * 13%* Feb; •. 20 % Gen' Paint Frltfkjt*V ;./VTeelfOii;Ay Sales liasrRange fo* Week High 32% Jan . ' General Randolph 5530 5,470 .y r •; 18% 8% Low 28%- Feb 17y4- Jan ■: 988 14% 375 16% -1 No. 285 .18% 13% 370 RlghtS''-—A—J—.AA—A- Fitzsimmons DETROIT Telephone! a267/8 a28 Farmers & Merchants Nat'l Bank—100 Farnsworth Television & Radio Range Since January 1 Low 56 ' Electrical 4121 Sales Range Sale Price a-a'.A Week's Last Building Unlisted Issues — Feb ■ stocks— Ford BROKERAGE AND Angeles Stock Exchange Jan 50 '■ a68% a70% common. Ij 25% Jan » & Feb Jan ,. >••"22 * ■ Feb 79% 400 15 a41 ' Jan 120 440 33 15 840* -. 40% 60 J an* Wire to Allen \j Jan 19 53 Va* Jan 1;035 23 835% 31% — High Jan ';.'yy'■ A -a Motor 20% a91' A Van Dorn IronWorks—————. 11 Vlchek Tool ——_ White 249 a57% a60 . {Un^f 16% 777 22% Ou of onio:——> Thompson Products Inc U 125- 20% . eiaiiaaro ■, Low 57 Direct Private Range Since January 1 High 55 ——w—-:——. Seiberling Rubber'———■ ■a Shares of Prices al7% al7% a37 a38% — (Un)—. ' for Week Range 1 Sale Price Low y Sales Week's Friday' STOCKS . Jan'.; 30% Jan 23% Jan 26% Feb _ General Foods Corp—— — —* —* Graham-Paige Motors Corp ,—1 Northern Ey Co pfd-————* Great a50% a53% a55 14%*^ 13% 147/o • a59 % a58 % a60 % a55 . 76 ' 850 190 Jan /:'%///''%-/.■ THE COMMERCIAL & FINANCIAL CHRONICLE 932 Monday, February 18, 1946 OTHER STOCK EXCHANGES RANGE Co of Canada—* Tel International Tel Corp.——-» & .; • - — Friday Shares Range Since January 1 20% 255 39 % Jan 100 28% Feb ••// Jan Feb United $3 31% Feb ./ ' • Low Par —1 Copper Corp 7 Llbby. McNeill & Llbby—— Loew's. Inc 13% 14% . ' a38% Jan . Inc— 6% 2,722 ■:r-r4A'A 58% 319 47% / 26% 26% 27% 25% 25% 42 42 :'vft-, Westmoreland 575 1J.% Jan 14% 33% Jan 39 =» 7 Va Jan J.560, Jan 58% Feb 28% Jan;,:;-' 23% Jan / Feb Jan 50 Jan 76% Jan 80 Coal —20 Feb 42 22%' 50 Jan 25% Feb 43 Va .5 Jan Feb 47 Inc Westmoreland Feb 100 49%y.5i% V . 238 . 371 80 -, 80 80 Co* Inc———*; Montgomery Ward & /■'Z# High LOW 5% 49% 55% Feb . a Robbins, & McKesson Range Since January 1 #/ Jan J a37% a38% . 50% 200 ; 14% 18 #,50% —* -- —— a56%.■ ; a54% a56% • High 6% • _ United Gas Improvement—. Kennecott for Week Shares / 58% Corp common— preferred Sales Range of Prices Sale Price "• 'y-.Av-ii.■ •' 41% v// 13% Jan 347 " / STOCKS— Week's Last > •' ~ a40% a41% 28% 28% a41% : % 15 FEBRUARY for Week V' Sale Price of Prices ///...////'.#•■•'■'/#//.Par Low Hioh Interlake Iron Corp —• 19% ■// 19% 19% STOCKS— International. Nickel WEEK ENDING Sales Week'** Range Friday /■//■■ ■/'Last -'is FOR > / a:,;,,... i; ; ; ........ t, .v," ■-i' -. " ■ i".".' . ■ 4"-'. v, rvV' "■ /•#: : a t ■ -5- , *rrr a ~ . r';#- V r K ^ -'L.'v :=V -• #."i- - " —! 15% 34 . 34 ' 34 , Feb 1,255 32% 16% r 31 32% 16% • North American Aviation Inc———1 North American Co —10 Central RR York New 35 % Jan 490 V 14% Jan 16% 34% Jan 34% Jan 27 21% Jan 22% Pittsburgh Stock Exchange Jan 275 V; Jan > ■ . Ohio Oil Co—— * —— a21% a21% — ■ '':v\^ Friday Packard Car Motor Inc Dodgt Corp—-— Phelps Inc Pullman Pure- Oil 12% 352 378 —* -—_—— (new)————* Sears Roebuck & Co — 25 25 ——* (N J) Webster, Inc— Ac Studebaker Corp Swift & CO— Co Texas . ' : v v #' '7 v m "* k Union Carbide & Carbon — — tf,& v1- ; "j'"i 42% '■ 23% Blaw-Knox * Clark Feb 18% Jan Jan a /•:' Jan 39% 36% Jafi '■>' 44% 649 16% Jan 17% • Steel S Corp 47%' Jan / 17 Western Jan Harbison 68% Jan Lone Star Jan,. 23 Jan 23 170 31% Jan 33% Jan 233 38% Jan 39% Feb 100 25% 330 31 31 150 3 5 — High 37% Jan •48% Feb 22% Jan 29% Feb 12 100 11% Jan 13% 682 9% Jan 2% Jan 12% Jan 15% Feb Jan /||a3 1 & ; Jan 25% Jan 28% Feb 34 Feb 25 8% 8% 100 8% Feb 9ya Jan 27% 27% 50 26% Jan 28% Feb ..10 17% 17% 18 35 15% Jan 19% Jan -10 11% 11% 11% 4,780 10% Jan 8% ■ 0 r* _ Gas Mountain Fuel Supply— / National Fireproofing Corp— tir,» ■' v ) 9y Federal Corp 9 1,600 6% 2% 2,000. 1% Jan 3 Feb 4% 12% Jan 2 2 ;—. // Jan Jan /Vj'r/.v#*; I 36% ;A 3 y Feb 200 140 67 Jan 80 Feb 42% 43% 6% 70% 44% 622 42% Feb 48% Jan 13% 10 Pittsburgh Plate Glass new— Pittsburgh Screw & Bolt Corp—— / 6% 70% './ 13% 1 9 Feb 13% Jan 2% Feb ' 6% Feb 51% Jan Jan 140 Jan " ,i! '— —— 3 ' » O Preferred Feb 3 common,—— Pittsburgh Brewing common——: Jan 2% r OO'vf Jan 9% a-;: 58% Feb; 22% Jan —... Oil & Gas— Penn 58% Feb 20% 158 145 45 36% ' a37% < — 10 (P W) |3 1/ 12 com —i Refractories._ Walker Ohio ./: 36 Westinghouse Elec & Mfg Co Woolworth Company 3 : / : 220 980 -Jan 20 5% ^ ■y^\' ' ' , — 90% 95% A.'.//.' 23 % ■>:A Renner .Co ■Sam Toy Jan Shamrock 7% Jan ... Oil Gas & Steel Standard 1/Y 'ii common —l Springs ■ 86s/8 Jan 96% Feb Vanadium Alloys 31% Janl 36% 51% Feb 51% Feb 36% Jan 40 624 2% 22'/« 2 23% 120 Jan 22% 50 | Feb 45c 46,600 23 22% a/' * Feb 42% 45 740 38% 163 36% 38% 495 35% Jan Jan 27% Jan 24 Feb 46 Jan 40 Jan 39% Jan 36% 60c 18% Jan Jan 42 37% - 45 —* :■• Westinghouse Air Brake—— Westinghouse Electric Corp com—12 % 340 : Jan i;39% Jan 25 50 23 % — r.i 23% * ' 60c 50c 55c 100 a55% a55% 2 — Mlnirig—— 280 , i / A 926 • 36% 36% :51%: .'51%va37 a38% __ -4% Jan 1,587 6% a70% a70% -—-—95 12% Willys-Overland Motors, Inc-u——1 Corp Brewing---——-———. 43% Jan 25 Pitt Fort j47,/2 Feb 68% 270 — Inc————5 Union Tel Co A-———*1 12' Vv rr-r. yy Commercial Brewing Duquesue : 41 160 45 45 a35% a35% __ : 29% 13% V Candy__— L) (D „ 207 35 Pictures Bros 47 % 24% Devonian-Oil ; ' Warner Low $ 45% 29% Jan ' . al06%al08% Aircraft Corp--— U High 45% — —— Columbia Gas & Electric commons Continental Feb 31 al55,/4al55% 10 —«-5 United Corporation (Del.)-—' 6% U S Rubber Company —10 a70% Air Low W Range Since January 1 25% Co v! ''iV. - Shares Feb 860 1,126 — Inc Lines, United United • Ludlum Steel— Allegheny Feb al08% Corp-,——• Par ■ Sale* for Week % / .Jan k " viV'wii 17 42% 17 - ; 107 Co——100 Union Pacific Railroad ' Feb 22 a56% a57% a50% a51 a20 a20% a57% Feb ,47 Range of Prices Sale Price . Feb 70 Jan 329 , a31% a32%y 39% 39% , __ * 10 :—■— Tide Water Assoc Oil j a32% —25 - Gulf Sulphur Co Texas — ,, 42% 16% 12% Jan 1.136/ a47% a47% 40% 41 a67 a68% a21% a21% 40% a68% — 1 ——25 * — — , —-- (Ind)-— Co Oil Co Standard — Co„i——18 Inc Brands, Standard Standard Oil ,39% Jan 43 39% Jan 70 . 17% 39% 17% 37 . 240 i , a21% »22%. — ————* : a66% a65 Co—ww—//..V##. Bocony-Vacuum Oil Stone 11% — Radio Corp of America..—- Republic Steel Corp 10% 60 % 1,850 a65% a71% :—50 ' a4S%*i a45% a47 % 25 /%a40% a41% —12% 1 ^ a70% Co Pictures, Paramount Pennsylvania Railroad Co Week'* Last . STOCKS— /: Jan 26% Jan 53% :: Steel————— 37% . 38% : Jan Jan 53% v■ Feb St. Louis Listed and Unlisted Securities ^ 1,1* .\V~t / -« ' .y. /Vvr, ,N # f , •* V 1 Edward D. Jones Established Philadelphia Stock Exchange 300 North - Week'* Friday Sales 4tli '# Co. & 1871 St., St. Louis ■ 2, Missouri ■ ' Last of Prices Sale Price Par •- ;•• Low » American Stores American Tel —— (E Budd Wheel Chrysler Corp Pub Curtis • 25 21% 23 V4 V- Jan 32% 'A.r Jan 195% Jan 38% Jan. 91 Jan 22% Feb 26V4 Jan 22% Jan 130sa 687 ', 140% Jan 26% Jan 21% 236 28% Feb Jan Feb ; , 50!a Jan 75% 16% 79% 1,544 73% Jan 47% 110 44% Last ■ Jan 55% Jan Jan 80% . 16. 16% 143,8 14% 14% 203 10% 11 % 15 760 Jan 936 17% Jan Shares Low 1 — 12% Pennsylvania RR ■ m srr 8% . 24% 8% 25 I 100 Jan <412% , Century Electric Co— lo Bottling common—, .—-I Brewing common——.—5 Jan' / ,/ 9%' Dr Pepper Jan 7% 23% Jan 27% Jan 47% Feb 46% 45% 47% 2,820 41% Jan 43% 42% 44% 527 41% Jan 46 29 ——— • Philadelphia Electric Co common • • preference common preferred Elec Power 8% pfd-__ $1 4.4% Phila 28% 30% 3,344 : 27% Jan Philco ■ 1,039 27% Jan 37 118% 560 28% Feb 32% 40% Feb 46% Jan 29 29% 29 119% 121 25 V- 31 121 Jan; Feb 40% 41% f//153 .—50 30% 32% 395 27% Jan 33% ——w ,...50 43% 43% 137 42% Feb 46% Jan ■ i Scott Paper common Tacony-Palmyra Bridge— Class A participating..——.— Mining Tonopah Transit 56% 58% 44 52% 64% —_ —— Invest — ■ Corp ft i 64% 64'/# 110 # 64% common- Preferred — •#": 52 57 56 . .. 25 Jan Feb /" 23a 3% 3,633 3% i 4% 4% 4% 3,836 3% 680 3% r,i 4 3% 10% Jan i Feb 8% Jan 32% Jail 35 ."24-/.Feb:.; >25 %■ 21% Jan 35 Jan 42' Feb 56% Feb 68 Feb 20 1 • Feb 215 23 Jan 25% 65 28 Jan 32 Jan 145 6% Jan 47% Jan 8 Jan 52% Jan .—-——100 434 20 25 Feb 25 Feb Laclede-Christy Clay Prod com—.—5 490 17 Jan. 18% Feb 24 Jan Shoe Feb Meyer Mo Steel common..- Blanke 20 ; 100 j 25 corn— Jan Feb St Louis Pub Serv cl A com— Jan Scruggs-V-B Inc common Sterling Aluminum common 57 Feb 4% Feb ' Jab % V 321 28 Jan 24% Jan Feb 26 Feb 28% ; : Feb / w v.-<»•«*. 73% Jan 23 * common.:; Portland Cement 58% : • ■a- 3% —— Jan common——• Laclede 57% — • Oil 50 10 common Preferred Johnson-S-S v Sun Jan ' * Reading Co common2nd preferred — Hydraulic Pressed Brick Feb < 25%/ 43 Jan 29 Corp Feb 40 100 Hyde Park Brewing common—-- Jan, 28% ; 9 145 common— Grlesedieck-Western Brew common—*' 30% Feb 100 , Jan Jan 61 V, Huttlg S Ac D. common--—5 Salt Manufacturing—— —50 Penna 13% : 8 795 Coca-Cola Jan 5,777 ' 12% Jan 125 Bldg. Equipment common——3 Burkhart Mfg common-—— —1 62 ;/ High Low 12% Bank Columbia Pennroad Corp — ———— ——1 Penna Power & Light- Range Since January 1 i Hioh Jan 17 Jan 10% for Week ' American Inv common- 61% Jan Jan Range of Prices Par ,//<#•. v'-i;#-,,-/''- 10% ,r9 :■ & Light— 355 77% 7Z in Lehigh Coal & Navigation—— II"io Lehigh Va'Jey RR National Power 54% 24% Jan 52% Brothers Gimbel 22% 24 53% 1 ——. Motors— General 2,172 23% Week's Friday Sale Price STOCKS— ., ;45% Battery Storage Electric -13% Light— Power & New York Curb Exchange Associate ; ' Delaware Phone CEntral 7600 Bell Teletype SL 89 J . Feb 83% 90 V Exchange Chicago Board of Trade Jan 33% Jan, 320 23% Stock Chicago Stock Exch. 25 37% 88% i 135% 136% ,135% * 'At V common—-——— 187% York St. Louis Stock Exchange > / High 310 36 26% .27% 5 ——. — Co 27% 141 803 22% 24% • Co— 31% New Range Since January 2 . 88 %: 36% pfd—Li— -—50 commonJi— Mfg Co Gi 192% Works v t c, .—13 Baldwin Locomotive Bankers Securities Corp Budd 30% —100 Shares / High 191% 193% —a, & Tel Members for Week Range . -5. 1 Stix, Baor & Fuller common—, —10 Wagner Electric common.—-—15 35 20 Jan 21 Jan 100 —1 * 65 Jan 78 Feb 18% Jan 28% Feb 10 , 1,932 132 32 Jan 35 Jan 46 Jan 49 Feb $3,000 122 . ; ' Jan ■//; 3% Feb 4% Feb ADIAN RANGE FOR ■ ■ ■ • ■ St Louis Pub Serv 25-yr conv Inc—1964 LISTED WEEK BONDS ENDING Jan.. 125,V? Feb MARKETS FEBRUARY 15 ■ Week'* ■ Sales Range Friday for Week ' ':y:y;',y/..Ay; Toronto Slock 11- Exchange Friday ■ Alger /'A; ' Week'* Range for Week Sale Price of Prices Shares Par Abitlbl & Power 6% Paper preferred 1% — Gas Oil 8%' 99 % &r. American 4,095 99% :a 180 a,™ • 7% Jan 93 Jan Anglo 100% 15 172 Jan 181 20%/Jan 24 745 Canadian see page 1 Anglo-Rouyn Mines 106 10 103% Jan 6.000 8% Jan 11% Feb Area Jan 32 Jan Argus Corp Ltd common 4%% conv preference 50 30 31 1.80 1.85 6,400 20c 1.80 Consolidated footnotes • 23 20c 1,020 / ?8 1.58 15c Jan Jan Ansley Gold Mines Aquarius PorcuDine 106 1.99 25c Feb Jan 937. _• Oold M'nes Warrants ) For Oil ' - 1 * 100 - 26 161 Feb Jan 109 Feb 1.15 1.25 15.800 13c ' 12 %c 13c 558 1.63 1.75 22c 23c 70c 19c 10% 10% 2,670 99% 99 3 2% 99% 3% 70c 22c 10% :. Jan Jan Jan 12,000 • .-:■ , 4.500 29c 1.10 10c 1.63 Feb Jan 31c 1,36 Feb Jan Jan 13c Feb Feb ,1.95 Jan Feb 30c Jan 14,500 22c 71c 4,200 63c Jan 90c Jan 23c 31,200 19c Jan 24 %c Feb 9 Jan 115 98% Jan 100% Feb 5,339 1.90 Jan 3% Feb r. ;•?; 'Ki# Jan 22% 31c 22c High 106 30c ■■ ■ 54c 129% 65 1 Jan 810 108 • 42c 260 107% 1.25 V 1 1 23.500 24 161 ' 31c ;■ • Huronian 22 % * common.. 1 46c 150 • Range Since January 1 / Low High 23% 24 161 100 pfd Yellowknlfe Anglo 9% 1,435 Canada 106 Gas Alberta-Pacific of 42c 44C y * • common Shares of Prices Low common Ltd Aluminum Sale Price yA.i Par Mines—; Aluminium High 8% A'AIA V' rfy-;'v 11 %c 1134C 23 • Oil Shoe 98 • Gold Algoma Steel ' 8 179% common —. & Agnew-Surpass Ajax • Low — Sugar Preferred Acme common— _100 preferred Acadia-Atlantic Wr'SPyi'r'x Sale* Last .-.W Last y . STOCKS— Canadian Funds STOCKS— y. ■" 12 Jan • COMMERCIAL & FINANCIAL CHRONICLE THE 4465, [Volume 163 /..Number LISTED MARKETS CANADIAN X BBV ; • ' —1 Mines Gold Arjon Mining —-—-10 —— 48c • Mines Ainona Aubelle Mines Ltd 15c 16 ^4c :<'A- v.'CV';'V Bank Bank of Bank 62c Jan 12% Feb 13% Feb 2,500 12c Jan 26c Jan 100,639 52o Jan 87c Feb ■ 64.460 32c Jan 39c Jan 55c Jan, 68c : Feb Feb 4' 20c 9.000 24 V2 25 34'A 435 550 Exploration & Radium— Jan 20 20c Jan 19% Jan 1.45 1.55 33.100/4 1.41 Jan 1.52 1.68 20,170 27c 1.64 "160 39 Jan 43 31 Jan 36 Feb 55c 36 ■ 63c 23,000 45c Jan 69C Jan " • Yellowknife——-—-———! "V']1' 62c bell Telephone of Canada——.100 190 Belletet re Quebec Mines———1;■■. / Berens River Mines ————.*—1 1.25 I Beaulieu 25 14% 14% 35 32 32 * preferred : 14 15% common 188 190 5,786 15% 1.35 900 137A Jan 1.20 8,195 1.20 Feb 80C 92c 47.600 7UC Jan 92c Jan 74.03J 33c Feb 45c 34% /4 13 * 25% Jan Jan Tar B , Jan 32 Jan 14 Jan 15% Feb 53 Jan Feb 53 20 :/ 31% // 16 23 24 25 Feb Feb 16% Feb 13% Jah Jan 24% 305 Feb ' Bidgood Kirkland Gold—.1 -4.-.-* Blue-Ribbon common-—— Preferred /. Blue Top 16 .16 65 14 Jan 17 14 14 14 15 12 Jan 14 —— 57 ,5 / bb Jan M 60 40 40 100 35 Jan 40 27c 29c 42,300 21c Jan 30c. Feb 39 Vic 39c 40c 21c 24c ' Bob jo Mines Ltd— Gold Bonetal ~1 Mines , Bonvllle Gold Mines—-i———I Boycon Pershing Gold Mines. -* 32c 32c 39C 210 2,100 Feb 30,400 ' 321/ac 39C . Jan Mihe*/;iittf;^• Bralotjnr 18 271/2 . 27% 15% Feb 27% Feb 15% Jan 30% Jan brazillan Traction Light <fc Pwr com—* 28'4 27% 28 y4 9.130 5 14% 13 7/8 14% 1,505 13% Jan 14% 2,415 Jan 28% Jan 50 Feb Jan 31% 3.05 12,400 4.00 13% 14 45 American Oil British Columbia Packers : Class. B ■ ■ i British 26% 47 47 50 450 38 30% 30 31% 1.303 28 * Oil 4"/8 • - 44% 45c : Porcupine Mines, Ltd——1 Buffadlson Gold Mines 4——1 Buffalo Ankerite Gold Mines Buflalo Canadian Lake Buffalo Red • Gold Bunker Hill Burns 1.40 1.54 9.80 — 14.705 35c Calder Bousquet Goldl— Caldwell Linen 1st pfd 'r - 1.010 9C 7c 9c 11.200 '13 13 13 2u 36c 39c 22,200 -1 321/4 , Class Class : ? A B • 2.70 9c 36c Feb 44c Jan 43c 16.250 3.05 7,800 37C; 8% 78 Northern Power —* - — ■■ 51c •4 pfd—i—_. 78 ^21%C 17C Jan 145 Goldcrest Gold 15c Jan 62 • —_L. 67c 280 21 :4''w 515 ?■ Permanent Mortgage .AiaWiinw 100 Steamship common—£— -V ' 193% Ti 21 // 22%' .'.EI 51 36 ' * 17% " PrcMred - T-_— 195 Jan 235 51% 47% 265 • 84 Jan 88 Jan 28 11 11 1i>0 Jan- 12 21% 22% Jan 22% Jan 22% 24 18.613 22% Jan 28% Feb 35c 60c 15.585 35c Feb 60c Feb 22% 23 715 common Commerce -i4-—— Canners Canadian 4* common—^ 1st preferred ——————..20 Copy preferred 4,f.Canadian Gar & Pdry common,— New preferred 1—^^———25 26 2G%- 22% •;/ 19% 34 35 24 - 22 1,150 ■ Jan 35 7%c Jan * * 28 28% 24% Jan 29 Jan common.—* 13% 14 12 Jan 15 Jan Harding 19% .Top .// '■'r ' 21 22 17% Feb ' i4': Jan • 20% ; /'■ 17% 37% - 115 * 1.835 - 620 6.430 ■ -1,155 39 r ? -* !———• 1.24 17 Canadian Tire & Rubber—— Canadian 1 Cariboo Castle Gold 25 Trethewey - Central Porcupine Centremaque • 13% 105 65 Z 24% 29 28 ' 18 29 % 250 26 Jan -P* 175 25% 3 05 l^OO 2.05 6.343 2.95 39c 40c Feb V ■ 1.75 Jan 3.00 Jan 44 %c Jan Research 13 z __1 36c 200 13 85c 75c 86c 1.81 1.76 1.90 1.60 1.45 ' • Mines" Chromium 10 Feb 50c 16 Jan 15,609 1.90 7 12.050 Circle ■» Knitting Bar Willans Plow Cockshutt Coin Lak« 1.30 Jan Feb 1,90 V -Ml SY. 11.060 7.575 17% 18 930 28c 4.60 • Co Mines. • 80c 81c 1 85c 88c Jan ;i; 22/;' Jan r : '4. Scarcee Oil——^ V * Jan ) i Vi. > .. - _ ; — ■ Jan .X 82c 16,400 70c Jan 1.05 'Jan •; 1.00 100 80c Jan 1.23 Jan -l Mines Mining & Smelting ...■ —5 Bakeries Consolidated • / • Conwest Exploration ; Jan 675 7% Jan 8% Jan 700 2.40 Jan 2.85 Feb ; 2.52 2.00 Jan 2.60 Feb / 87% :. 90% 160 162 ■• Box 20.587/ 1.95 16% 290 . .897 78 , 9% 0 9% 9% 5 31% 31% Jan 80 19 Jan 162 Jan / '7 91% Jan 1.20 105.250 1.65 51c it Jan 156% 219 162 1.68 • common Imperial Mills————„__ ''■■ti--- ■: Cournor .Mining——— Crestaurum Mines __ _ — .. Crow's Nest Pass For __ see page 61c 100 937, 66C ' / 8 13% :.;• 78c 86c 1.50 1.53 11,700 49 55 0*2,' • * i . 102 f Huron & . r, 28% Jan Feb: > 1.50 43% Jan Jan 9% Jan 12% Feb 19 12% _ 22,700 19y8 Jan Jan (John)—-i——8: ———-I 35c II,999 25C 27c 6,600 25c Jan 30c 50c 6.000 Jan 69 49c 43c — 2.75 3.10 53c 5,500 24 24 760 18% 19% 3.50 3.75 27c 31c 50o Jan 19% Feb 19,100 25c 45 Jan 61c -3550 181 Jan Jan 10c Jan 74c Jan 44c 1.120 -'44: 35c Jan 73c Feb 45% Feb / 37% Jan 14,100 42 23 28% 16% 48 Jan : 40% Jan 48 Jan . Jan 101 Feb i 26 Jan 30 15% . 30c Feb 95 4 Jan 31 10,382 15% .15%; 1,160 Jan Jan 16 64C 14 13% '. 14 1.45 1.32 1.45 :/1 International /// Feb 70c Jan 24 Jack Gold Mines—L 86c Feb Jacola Mines- X 1.67 Jan Jason Feb Jellicoe ——-— Mines ----- — ...1 1.55 1.50 2.30 . 2.500 2.30 34c 37c 8.7C0 I/ 37c 41c 41 0"O 7c 1 ;; 8c , . Mines ' ' Feb 32%'J.an Jan .-47 , Feb 27% Jan 1.90 Jan 2.30 Jan. Feb ' 32c. Jan 41c Jan 30c 13.466-^ ~ 47c 48c 21.600 / —x 14c 15c 16.346 /" — 11 Jan f Jan 41c Feb /5%c Jan 9c Jan , 40c' Jan 12c Jan -■ 1.65 £un • 37 '22 .800 2.25 Feb Jan | 1.40 Jan 1.90 Jan • (Jan » 40% • I — 14 30% 9,430 MineSi-—— Waite 80c Jan 1.20 Jan 30.300 1.70 * Mountain Jacknife * 23 Feb Jan sJan 34 15.500 '365 44 32% "•;''46" .50c Uranium.--Mining—^ /'•;' Feb Petroleum 1 37 36 • 15% ;J»n Jan Feb 9'A • C 45% International Nickel Co common... / Internatinr. II,800 32% . 14 23,300 2.945 - 17% 59c 230 : 15 "14 59c 13% • ~ " ' 60c ' Jan 20c 595 16 15% 16% Jan Jan 8c 80.000 45 Jan 4.40 3.50 Feb 22,700 68c IPO I41/2C Jan 15 68c 28 'A Jan 63c Feb 7.515 10.420 23c 28% Jan Jan. 25% 16,400 22c Jan 3.60 Jan Jan 22% •44 VA : 2.70 Jan > Jan 60c sn Jan 10c 61c- 'V Feb 22% 9 Vic 8%C 43 2.55 55.400 10c 11 'Ac 2.32 23,250 50c 32% class A Feb Jan 26.700 20.499 36 — Jan 30c 23% International Coal & Coke Jan 1.24 Jan 31c '200 V Jan 27c • jan 141/2 1-02 Jan .: 27c 100 Imperial Bank -———i——10 Imperial Gil Imperial Tobacco of Canada ordinary_5 Imperial Varnish :—r* Indian Red Lake.-———1 Feb Feb 55 Jan 6.00 Feb 2.55 • International Metals Jan 31% / ; .Jan 10c Jan 2.35 22c Erie common. 18c Jan : 25c • 44 ■> Jan 7c 4,70 i 27c 64c ' 14c ! 28c ' 68c r Jan. 28%c 1 Smelting. Feb 17% Feb 25%c ■ .—1 1, & Inglis 9% • Jan 78c 23.865 1.52 465 -14;. 1.15 1.10 Mines——5 Mines. Inspiration Min & Devel 1.95 55c - 8,550 78c __ 1 Coal—; footnotes 31 Va 66c roinor Pershing Mines 19% Dauch_— Gold Mines. Island Corrugated Cosmos 19% 25 : 18%. 18% 89% 100 (Toronto) 700 8'A 2.75 2.30 2.40 Cofibolidated Consumers Gas Jan 45c 48c 8 48c ■- CoiViaga'S" Mines-Oofviaurnm I,126 • \ __ 11% Feb 7 59c '•.V'-c/'i ;; ,2.65 National 10% — -a Jan 18% Jan X' IT Jan Jan : . Conimditwealth Pete 5.50 100 Feb 14 , Jan 14% Jan 37,400 5.50 50c 25,500 8c 7c 13'A 1.12 , —* Hugh Malartic Mines-. Hunts Ltd class A—-/. ' Conduits 14c 16 Vic • . 995 14%'c 1 Cadillac v 5.00 35c • 4.40 Jan ' —1 I .i.—£ 18 X 18% 25c 5 31c 4.75 20 * —1 ; Mines.l— —1 Gold Yellowknife Colomac 20 27 c 4.50 — Citralam Malartic Mines—; Cochenour ■ 16% 11% Jan 5%. Jan. / 1.390 57c -1 — Class B l 6% * •; ——— — 325 14 13 6% / 2.85 50%c \ 10c Gold Feb; 53% .14 1 Howey v Jan 2.14 '• 1.70 Jan v, 880 1.60 Jan 43c 6,990 . Z 7% >55 53% Feb Jan Jan -r" Feb Jan 32 19 3.60 Homer • Yellowknife -4—28c Homestead Oil & Gas—1 9c Jan 30c 8.200 Jan v 31 43 vv;^>*»'*> / Mascot 2 & Jan 15% Jan : Jan 11% Hollinger Consolidated Gold Home Oil— •2.10 Feb 2.75 61,950 i? Feb Jan 1 ; Highwood 20c / nJan 15 t Heva Feb 3.05 2.80 Feb 5.750 36C Mines Feb 26c 3,889 2.40 Hedley jJan 42 ; Mines Gold 56 Va. 15c x Jan 4,271 53 26%: Jan /Feb 755 1 Hinde 35c 1 Ctiesterville Larder Lake Gold Mines —1 Jan 53 . 1.440 Headway Red Lake Gold Jan Jan yfiA; 29 1.85 31 ; : / 115 .Jan 15c 57 13,900 3,000 , Jan Z . 32 Heath Gold Mines Jan 24% 29% 2.85 Mines—i_4——1 , 7c 106 53% Carpet——-———— * Gold Mines—1 Harricana Hosco Chemical 9c • 51 ———1 Hasaga Mines -105% Feb 2.90 * ill 28 ——* com——-—* AW- t B 1.35 Feb Jan Jan Jan ?1% Jan 9.809 .-i.1 Chateau Gai Wines— >1 Jan 32 Gold..Mines————1 Harker - 28 Mines Gold 1.625 22% 4-4—44-4.--——i Central Patricia' Gold 12.310 17 24% • Quartz.— 1.27 105 105% Wlrebound Boxes-—— Ry^ 1.10 - 1.20 16% Preferred ■' -4—4——-i——4IOO -U Pacific 2.65 Jan 35c Feb ' •"* " 53 Mines—-———1: Cotton Hamilton Jan 00 _4 —-■—* /Hamilton 'Bridge 39% Feb; " Jan ' 354 i| a Jan 40Vic ; Jan 2.00 25c 50 Hard >Rock Canadian •7 ' s 31 a Ltd 43 . 55..-, 56% 19C /21c •18C. 18% c 20c 1 Hallnor Mines Feb Jan- —-4-^4-w—_—^.4-4-^ 35 Mines.^—^—k>l,v rJ7ihc Jan Canadian Malartlc 6,000 113 ,• — fW'+if .> A0% Canadian Oils 8VaC HalliwqU Gold Jan .. v.-: 7,300 110% common—* ytc — Halcrow Swayze 20% Jan 59% Canadian Locomotive 4: 17,916 j| ' " 'Jab 79c Feb 31c 48,100 15% 80 :-:4i—i-4—4—4^1—44-—4-*: Canadian Industrial' Alcohol com A—* 35c Ja"' 1.30 Feb Jan Jan 30c 16 749 1 90c 53c 2.40 • "■ Products Jan 25c Jan 23,950 25C 1 Gypsum Lime & Alabastine—— r Pood Feb 75c 58,800 31c 55c 68 Dredge ; 39c Feb 1 2.22 54c 42% Class- "A 65c Gold, Mines Ltd———<—1 Gunnar .i 23/2 Jan 1 'Jan 18 ,/Preferred Jan 3»% Jan 1.495 Mines.^ Paper Greening, Wire; 42 Canadian : 72c' 1.27 1.21 ■- - __L 2 preferred :Cominon ———— 65 Vn Canadian ■■ 9c , Vtc • common 16.900 ——.———1 Rubber common—* Great West Saddlery Jan 26"% 22>/4 Jan 25 4 Jan ; "•1:268 . • 18% 310 - •v:/- 9 Lakes Great $1.75 preferred ———-—100 t »*ianc5e 16,400 19C 34c Bousquet 68 Cwt'»dian 65C 16c 1 ■ v . 3,515 : 23 18% ^ „ Jan Feb 28c 60c 50 Grandoro Gold Feb 10 Graham Jan Bank 88c 57c - 18.500 36c 25c , Preferred Jan 26 — Jan ; . ' Feb Breweries common^—4-—* C»""»«iirti ' 51% Jan 20 Canadian Feb 12c 115,800; 2.35 Goodfish Mining Jan 200 4» .. Rights 23- -88 ——-— —- Feb Jan 22c 60c 65c ———. Goodyear Tire it Feb 26% 4- Canadian Bakeries " ? 88 B Class 25C . 33,200 34c 1.24 1—— Mining Gate Golaeu Feb 26% Canada Wire class A - .-50 ——, Jan 17c ——r————« Goldora Mines- Feb 21 ■ Carnidn Feb 18c 14% Feb 40% Jan 178 26 195 193 - Jan 8.70 " ' Canada Jan Jan 12 390 14% 24,752 Jan 107% Jan 60c ——— Golden Arrow Mines.. Jan 40% 20c 67c 34c • ——— Eagle Mines. Goldhawk Jan 56 14 24c 21c 20l/2 7.55 " Feb 131 40 8.506 Feb 110% Feb'/; Jan 105 15 8.70 8.10 Feb ;110/- Jan 19% : jfan 16% / Jan 108 20 107% 107% —t Jan 5.45 Jan . 155 8.15 1 • , 230, 20 20 •—p.; 14 105: 1.066 - Feb 18% Feb 14% Jan 140 20% Jan 110% 110% 110% lioo .ii— God's Lake Mines Ltd Jan 275 21 • . 4.85 110 K Goldalc Mine————— 9% Jan 106% Jan 75 35 30 2,165 Feb-' Feb 16% common.. /, Jan Jan Feb 54% 75c 56 Feb; 64c I.852 27,350 ' .100: Wares Glenora Gold,, Jan 6% Jan 102% 16 110 Jan .32% ' 30 56 110 i Jan 7% Feb Jan 5Vi Jan 9% 24c 17c ; Jan 820 5.25 • :ioo — Jan 119 / Jan ; Jan Jan 5% 31,300 68c 5.05 Gillies Lake-Porcupine Gold 3.30 Feb 60 58 59 14 /■ Canada Packers class A Class B '4-4—4—-4-...1—4* 260 50 •; 60, • Jan 2.40 Jan 1,385 , 2.95 142%, 142'% Preferred---—--—100 Malting-^4441^4^.4.4^4,,4^—^ 1,579 54% — Giant .Yellowknife Gold Mines- Jan 19 Feb •36c 35 17% 417%-: ' ' Canada ' 8% 30 Exploration General Steel Feb . Jan 2.15 480 106 78 ——————44—50 8% 106 7 58% Jan' . Jan 6.35 Feb Jan 48% A—— Gqiineau Power common 5% preferred 5.%% preferred 32% Feb 4 < 'Jan 17 100 8% Canada 42 345 8 Golden Manitou Mines ' 235 90 Jan 13% Jan 5.70 3.445 , 13 Jan 10 50 7% 31 % Jan 1.45 / Feb;' 11 458 18c 20%C Jan Jan i Jan 6.25 64c class 45 1.38 Jan 1.00 Jan 15 Feb 13 Va 44% Feb 1.15 " Jan 15 Jan 57 —, Feb Jan Jan 4.40 49 6% Canada of Co Frobisher Feb Feb Jan 4c / 13c 3.35 6.00 Mining...—— Fraser Cb.'s Jan 12 22.865 2.87 2.87 Canada Cement common———? 50c 31 Jan 23% Jan ' ' 18 100 4.'- —4 32% 2.70 * '''4;\'40C''.: —.——L common— .: Ford 10% Feb - Jan 28 18 Cnlmont Gils4-4.4—.i—-.44-—1 Canada Bread - 2.44 X Caigary & Edmonton 4^4—44i4.w——^; Campbell Red Lake 32 . 1 • 13 Fleet Aircraft 45c Jan , Feb 110 111% General Steel Wares •; 36c —0 i..——444——4^ Preferred ■ 13 Jan Feb Jan 100 — Kirkland Federal :-:4 1.58 Feb Jan 40c " 30% 1 - 14.666" 44,200 43c 47c 30 • 11% —-25 Preferred Jan 4 6;10 Jan 35c 40c 44c — 1.20 14,000 8.85 • & Co class B——0 vi'.v"-VvJ 'T* p.* y. 11 ; 46c 62c . Jan 43.550 : ' Jan 9 Vic 40.000 1.20 Francoeur Gold 1.48 Mines— Jan 66c 1.21 1.05 Farmer Candy Shops Federal Grain common———— Jan 72c 1.15 1 Faiiuy Jan 55c Jan —1 —— Falconbridge Nickel,——— Famous Players r ; v Buildings Products————i—a——4—* k , 69c 5 Jan 44 40c 42,000 13,400 r 9.50 • Mines 67C 68c " 4% 275 4% 40c \v;;H ? 27% 44 J/2 c -4—--4——.—: Dominion Broulan 271/4 —• common—• British Columbia Power class A — Gold Mines Jan 3.50 25 Gold Jan Jan , 1.59 2.70 ' 3.818 45 25 1.85 - Feb 38c . 9,900 Feb British , 32c 27.800 2J90 Equitable Life Jan : 32.700 9%cil%C; English Electric class B-— : Feb 26% Distillers & Brewers 61c X 3.80 Elder • Feb 26% • 11,500 63,500 53c Economic Investors -*■'; Jan 15 30 43c East: Sullivan Mines— .1 Eastern Steel new common-—-——— 18% Feb 27% 5 15% Brantford Cordage ,pfd——. -25 4 Bran tford ■; Roofing———---—* > Jan 17% 3.049 18% 1.49 32c East Malartio Mines——«i—l Eldona 1 1.40 Jan 17% Jan 1.35 East ■ Crest' Oil—• "Jan , 1.40 ■ Feb 30c ' 44.150 East Amphi Gold Mines— Jan 50c Feb 32c ' Feb 410.400 1.375 1.50 Mining Co———J Duvay Gold ^ines^. 1" Feb 26c Brewing B com———;—* 5r 17 1.40 Duquesne Feb Jan - * 50 .. 33c 36%c 33c Biltmore Hats —i„— . 16% Feb 30% 111 109% Jan 13 Jan . Feb 24 21: 1,350 K;/95// 110% 110% 7 50 Dominion Woollens common———.—* ————1 Feb Jan 45 5,955 Feb Jan 4% 160 " 145 Jan 15 Jan 22% 175 ",7 39 25% Jan 7Vi Jan 1.825 24% —100 Jan Jan. 28% Donalda Mines Gold —8oc Bevcourt 15% 13% 14% common—• Jan - 50 *,'• Chemical & Preferred . Feb ': 27 Jan 48 —25 i— :: 7 Jan 94c 32% 24% 2.100 25 % Stores," Jan Jan 50 14% com———! Jan 113 Feb 77c 28% Jan 190 36 * class Dominion Jan 1.45 94 Jan 1.90 Jan 65 .* ' Dominion . 15% ; Feb fD%c Feb Jan 1.55 305 '' . 53 53 50 Dominion Steel 14% ; 26 ;4- Preferred Jan 191" Jan 181 25% —w—-10 '- Dominion Scottish Inv Feb 60 3.05 6c 1,300 Dominion Malting common Feb 43 .36 Feb Feb Jan ZZ 9,500 32 Jan 31% 15% "a. 2.097 90c £ Dominion Magnesium Jan 1.76 Jan 1.41 102 Dominion Foundries & Steel com— -351/2 ; 42 94 20 %c Jan Jan 1.92 V 76,300 137,880 86c Jan 'r'.i.vi'V'?:'{'*■ ■'.v'*0.?.'.' r?*' -'i1 Bank Dominion Fabrics );p . •: 1.89 30% * >'.■ 4 4 1st preferred Jan > • •• 1.62 1, Feb 29 % 22,550 common—^ ——— Dominion Dairies pfd i Jan 22 ; , —— 3 14 'V •'1,700 3.05 Jan Jan 15c 960 15 V2 1.02 1.65 2.000 %C 31% 15 1 Ltd Dominion Coal Jan 300 -—•. 4 V. 33 35 18.800 : • Cla8S B Jan Feb 21 1.65 ■ • 25 35 34 34 1 Beattie Gold Mines Ltd Jan Jan 20c ;4 24C 22c /v/; 21 1 p- 1.45 Jan v.y; / 24c 21% 34 19% 10 Beatty Bros 'class' 'A—* - "*<*:• Mines Mining Mines Dominion Lake High Jan 86c .. 2,080 9%C 10J/2C *^'..1'' Seagrams Diversified Feb 58c r Jan 17c 1.040 34'A —,.* * Bathurst Power class A__. 10.450 2.85 ■7 , Red Dome Jan 2%C 1 Distillers 1.55 7.25 460 38.500 '4 471/2C 5IV2C v 16c 17 —— Dickenson 1 18c 95o i 2%c i 31 Denison Nickel Mines. / Jan 1.23 8,780 . 94c 2%c —* ^ Delnite Mines 4.50 Jan 39,700 1.45 6.95 6O0 80,600 72c 1.32 . 4 ^Petroleum1",—* rV: 4 Class' B; Feb 6.35 90c c;>V ' Low V'/yi :: ' Jan 72c — DaviS: Lfeather class Jan 40c 25 ' Davles - 815,000 1.40 1 Range Since January 1 High Jan 44c 1,435 4 50c 20c _—: Base Metals Lear Jan 39C 6.80 . 10 10 — Toronto...— 95c 41c —1 Mines Scotia Nova of Jan 34c 47c Montreal of 78c Cub Aircraft 26,400 - 74c 1 : Consolidated Bankfield Crowshore Patricia Gold i'tf'•>:(;■ " Mines Jan 66c 69c Aumaque Gold Mines——1 Geld Mines ———Jl Aunor Bagaraac 55c 44c 1 — Feb 37c ————, Mines——.—1 Yellowknife Atlas 39c 131/4 13% .AshleyGold -—I ;>;4::B.V Astoria Quebec Mines——-——---..-.-1 68c Shares Low 58,700 . for Week of Prices Sale Price 1 High 22,400. 55c 13 50c ■ Ashdown Hardware 91c Range Since January 4:j-4;Xoto'/4 , 42c 85c 38c f 85c • '■■Armistice Gold Arntfield 39c Range Last Shares Hiah Low Bales Week's Friday for Week of Prices ; Sal© Price STOCKS—. ' ENDING FEBRUARY 15 Sales Range Friday , ;/:..':"i'BV'B-VVi-:-■;; y/;/':Last. .7/;:B'-B;• ' 'V; Week's . RANGE FOR WEEK ?•. 933 •; '50c Feb 19c Jan * ... ''' THE COMMERCIAL CANADIAN % : East ■- Joliet Mines..!. Gold loto 1 7%C 8C RANGE LISTED MARKETS FOR WEEK ENDING 15 ; Low 1.35 1.25 1.44 29%c 28c 31c 28 17% East 181 Jan 9c *Mt Ja Purity Flour Mills 1.44 F< 13% Kelvinator Co of — Canada— i • 28 • Kerr-Addison Gold Mines—.—.. .—if" Kirklajid Hudson-^ .^.1' 1.85 2.00 *0 v. —f 2.63 2.50 2.69 28.255 I 44c 34 %C 44c 38,600 25% 990 Lake Kirkland Townsite Labatt .. — Labrador Mining & Exploration. Lake Shore of La i 21 10 Quemcnt • ,0.75 1.15 Reeves-Macdonald I ; i5c 25 % - 25 25 % ; ; * - 7.00 '7.00 7.30 8.30 8.25 8.75 21% 15 %e 22 19c 210 25,200 55c 67c 33,300 21 Vss 22% 515 1 16c Lapaska Mines —1 59C Laura secord Candy— .^3 '21'/a —1 6%c 6c .—I 1.50 1.47 6%c 1.54- 29C 32c: 22 19c Leitch Mines Gold Lexinden — Mines. Ltd Gold .—I Lingman Lake Gold Mines — Goldfields Lundward Gold Rush . 30c 1 —-ml 19,332 •" 1.40 62.400 23,925 Sannorm 31 790 —* 29% 29 30 535 1.50 —1 65c 42c . ' 1.60 42C 65C 21.600 45c 44,550 Pherritt-Gordon Sicks' — MacLeoo-Cocxsnutt Goia Mines Madsen Mines,., Red Lake Gold Magnet Consolidated Gold Malartic Gold r.k Brewery Voting trust common.; Gold Dairies Jan Jan South 45c Rouyn Gold—— Martin-McNeely Mines, I Massey-narris common Jan 19% 16% 10 %c 104 V2 0/4v:4'74; 73 Jan 74 Red McWatters Gold Mercury Mills Gold""" Lake Mines — 7%c 46c 33c 19% McLellan McMarmac 1.56 74 1.68 29c 1 1.51 42c Red Lake Mines 19% 6c • Mid-Continental Oil & Gas— 13%C ; ■ r,_ Standard Monarch Knitting 38 new of 42 44 395 37% Jan f 43 42 43 375 35% ' 17 17% 1,436 14 14 13 " Montreal Moora Light Heat Corp Mosher & Sullivan Surf 23% 25% 22% Jan 75 76% 70 ' common— Lpng Lac —_ 43c 31c Jan 1 Cons Inlet .1 National Steel Car IZI Negus Mines " -4, Nicholson 4 V 15% 3.670 . 22% : Noranda Mines _ L 1.27 50 52 145 83 -82 146 e 14 %e Jan 30 30 29 24 4.35 32c —1 l Gold,,. Normetal Mining , Northland -■ ■ ■ (Oi 17c 18c 2.90 3.10 Northern Northern 85c 90c 87.184 1.58 . 63 Ontario Preferred Car 22c Jan Jan 2.50 Union Feb 52c Feb 1.867 270 12% 30c 2,235 1,900 . 30 30 55 30 35c 8% Jan 6% Feb Class 18 18 34 1.50 1.60 14.700 Page Hersey 19 19 100 * 1.50 I , Steel Vermilata Vicour ; Villbona ~ Pen-Ray PeopJeS Perron v } Gold 14% 50c Oils ' a 64c 2.34 16c West . 37C 1 1 Picadilly Porcupine Gold Jan 1.80 Jan 41 - 20, Jan. ; ? 39c 33c 33c 5.00 22% 23 1.50 1.56 —1 com —• • 1 Worts & 4.80 —* Mines, Ltd — 42C 44c ; Malartic 108 118% >.10 1.05 1.20 33 34 2.44 * 27 27 * 28% 29% Ltd common 40c Jan 23c 28c 19c 9%c 11 %c Winora Jan Feb • 88c Wood Jan Gold Mines (Alexander 32c 100 5 Combing ^ Wrlgbt B[argreaves Mines 76c : & Jones) -pfd Wool 6%c Jan 97c —100 -1 Preferred Jan 35c 28c 1 * Wiltsey-Coghlan Mines —— Winnipeg Electric common Jan 29 2.17 Jan Yellorex 29c Feb Jan York ——•• —1 Ymir Yankee Girl 8 Mines—'— ———fr* * Knitting common Jan Mines. Bonds— Uchl Mines Pioneer Gold Mines ol B C Porcupine Peninsular 16 7%c Jan :V Pickte-Crow Gold i? »-184v Feb J t , 70C. Wasa Lake Gold Mines 1.45 -v'. * 13c 65c — — Walker-Gooderham Preferred '10c 1 .. Ltd Mines Waite-Amulet 29c Mines Credit Securities Gold Mines .4 Feb Feb Feb 16 ———1 — Geld Vulcan 15 15% — Oils Mines 23 38c Paymaster Cons Mines Ltd 33 . Jan 1 Ventures, Ltd. 30.630 25 %c , Malartic Gold Partanen Malartic — r ? > • 25,100 2.35 Parbec a , , 50 Upper Canada Mines Ltd 23c Paramaque Mines ; , 6% — : Porcupine Reef Gold Mines Powell River Co Toronto Stock Exchango-Curb Section —— Powell Rouyn Gold Voting trust certificates Power Corporation ' Premier Gold Mining Co Presmn East 3.35 Metals Dome For footnotes - Last : - 1 937, Jan Andian 15% page Jan 3.45 Feb 22 %c see Sale Price STOCKS— Feb 22% Mines Proprietary Mines Purdy Mica Mines Canadlao Fonda Feb Asbestos Corp Atlas Steel • National — * * ,. 22% 32% '♦ Sales for We«li£ov ' Shares Range Since January 1 Range of Prices Low Par ,vvv:/^V Week's Friday ; Pressed ■ . — 22% 31% 60% High Low -Iv" 22% 327/a 61 . 85 Jan 31% Jan 640 90 ^ A'l -21 ,• 58% Jan ^ Febq Feb Jan > —* 109,200 14c : " 18 Westons (new),—. , 12y« 12% .39c; -30 30 103^ 18 ,25 42c Porcupine Mines Ltd Pandora Cadillac 63%-Fel»f ? ( 1.30 Jan 18 5.35 Feb r 79c Jan 09c, Feb 22% Jan >5 2.40. Feb j " 46% Feb | 1 B 14% Pamour Feb . Jan 30 v Feb "f 1.94 Feb 24 Jan , • Oils 23 v. Feb .? ; > * United 36c 1.80 Petroleum , 103 ^ Feb 18 4 Feb 18 Feb Westeel Products Pacific 90c ^4 • i Mining 29c 61c Pacalta :Oils:-:4;-m; - w a Jan Jan Feb Feb 1.95 Feb 36 . Jan 52 Jan, IJ.% Jan 11% Jan 27c Feb 26 50 103 . 5 30 i—'* United Fuel class "A" Jan Jan Jan 113% 113% ■' .. 52% 12% ' 103 103 — — —— 28C 44^,-': 4- Feb Jan Jan Jan fr Jan 'm 5,500 30c ■ 2,080 590 * ~ City Rapid Transit common^,,.* 33c "" 46% 12 * 28c 39e 2.40 40% 52% *12 . i United Corp class A— Class B 1.40 Feb Feb 40,887 66e 105 22 .2.05 rights 15 ■..-:-)44^.... v * Union Gas Co Jan 7% 3.25 ^^21- 12'A 100 United Gold Mines Orlae Red Lake Mines Osisko Ottawa 33c 5% •60© 17,900 109,910 _* w-—-—-, rights Twin common- Orenada ... Feb 45c common—...IllII Feb ;:fi Feb Feb 52 85 87 40c 4.45 45c 20c 3,25 2.08 Feb 1.13 2.85 99c 52% - Transcontinental Resources Jan 15 %c Jan ~H Crush 14 %c Feb 1.05 Jan 35c 1.75 Loan Steel Orange Jan 24c ; ***** 44-".4* A B Jan 1.03 Jan Exploration Ontario 72% Jan Jan lie ;-:' a'444\:. ':-4-A.;/'.; ■4C;':44- 4« Omnitrans Jan 27c II II 83c 4.90 53c 83c 21 6.335 73c 45 — B 24 5.30 66c common— Finance class A Class 1.40.Jan 21% Jan 5.15 2.05 85c -44; -v;- 4 O'Leary Malartic Mines—HH" Omega Gold Mines,,, .. Jan Jan 10,200 750 23% 21% Traders O'Brien Gold Mines Okalta Oils,,. 24 - Jan 8% Jan f "1.29 Feb '• I ^ = 3.40 Jan ®3c Class A 48c 16,625 70c . Gold;;^—r^^-.,Tr..rt. ...f-T|^,s• Iron 4.000 5,25 * Tip Top Tailors « ;; North Inca Gold—. North Star Oil 41 Preferred : —^.4 4 , , Feb Jan Jan Jan 1.55 1.46 * enmmnti Towagmac Exploration I Mines Empire., f 1.60 Feb V? 101% .Feb 3$ 9% Jan tf JftB,, -3108- '7 75 ^|Mi-- Preferred Canada Feb *16% Feb . 6,770 90c Toburn •. Mines 8,600 . Ji ' Jan Toronto Corj' Ltd Minea__ 20 Jan ' * 1.50 Feb 1.48 Jan 30c 3.00 36c 10c 2.85 77,760 40C 3.60 - 50c Toronto^ Elevators—4.,——.—c Preferred 50 L Norseman 10c 48% Jan 78'A Jan 80 Jan • 4,30 4.10 f 3"40c 86 . Feb 29 27% 4 -4.. Mines>■ Norgold Feb Feb J. Jan Jan Jan Jan Jan 85C ' 31.350 52 443 Feb&•?' 29 106% 1-40 1.12 Jan Jan ? 18% Jan W, 6% Jan 530 f 12% Feb 7 1.250 8 • - Thompson-Lund Mark Gold Mlaea TThwrbois Mines • ':':7 Mines,,! 23 8% 1 Jan fit Jan 30 1.50 Feb 1,955 22% : g . Feb'b ■ * 14 100 > Jan 9 ^Feb 35 17% Jan Jan Jan 65 8 45 I7r Feb Jan Jan 1.225 1.60 101% 101% __ 50 16,100 Mines Consol tV; Norbenite Malartic Nordon Oil , 13% ' ' . v. 12% Jan 26,451 8% Teck-Hughes.Gold Minesil I I ■ 455 8,500 1.43 363 28% Feb : r,,.. 20 t 43 1.30 67 33c 16% Jan - Mines Nipissing Mines '• 5,500 13% Taktt River Gold Mines—.——— ,4.;;J Bidlamaaue New Calumet Mines._± Nib Yellowknife '• 7%c 84% 17% 17 National .Petroleum National Sewer class A ' 7%c , 86 30c 29% 29% 16 %c 16 %c — New 95C 22.220 242,800 1.35 - - , 645 215 145 1.12 „ Grocers common— Preferred —— ■ 28% 1,05 1.00 Corp Byi'vo-wite finid . Tamhlvn National . 27% 10*' 27% 24 I101% 1.02 45C ' 7c 18% 1.25 1.00 506 Jan .Feb$t 45 131: Jan 70 30 3.65 Jan Feb Jan 2.08 Jan Xi ■yJi. ;i Jan 116 14 U Jan 35c Power. 12% 106% 106% 106% :on Jan 70c 12% Jan 1.66 Jan 3. 110 29% __ —• , Mining ' 13% 1.73 Feb •. common Jan U 95 13 II • Feb 12 IOO 82c l_ f fltMrgcnn River f?nld^ Sudbury Contact,, ; 75c 17% „„| Steelog Jan 42 " i, vi 23% ;; Jan 70c Jan 47c 19.900 .« : 1.63 • ■- Steep Sock. Iron 21% 335 Feb 16% Feb 700 » Jan 51,675 _ « ?- 14c ~ Jan 50c 139,768 1.50 Jan ? 62c «.* Feb ? » Feb 2.10 E Canada Jan 6 9% Feb 2.05 Brothers, Co 37 52c —• Steel Feb 1.80 100 3 f..- Jan ' 2.00 * Radio 8 70 54c —— 9c 99% 11% New preferred Porcunma Moneta 1.40 ;n.;;;f:iV1 -i'3r-v Jan 38 38 11c " —19% Stedman » 5,50 Jan 10c Jan 42c Feb 15 Jan 1.30 Feb 6,278 1.99 . —— Starrfttfc Dlsnn ^!n Jan Jan ■: 32% 102 C": 5.90 Fetroleum—7%c Jan 25c 2.00 ♦ 13c 16c 11c 11 %c Modern Container common^ -9" 33% 5.70 —27% ... . h 52% Feb 1 ——• Rhirfifinn • ——1 100 Preferred .Mining Corp Jan" Jan 23% Paving common, Preferred ——^ 26 %c Jan 17% 44 20c 23 Standard 1.51 Feb 37c Feb 11,600 *._ Rights ——; 5% preferred -j—— Jan 7%C McKenzie 53c 1,560 24c 1.35 common——* Mln»« 20,200 52% 8%. , __ new 58c 51 . Jan 10c Jan 1.07 53c — ; Stadaeona Mines Jan 4105 105% 10c 10 %C 18% .* 62c , 20c 100 Standard Chemical common McColl Frontenac Oil———, 44; Preferred McDougall Segur Mclntyre Porcupine Mines Jan Feb —50c Co Jtprlrifrfir 25 Mines——i.io End Southam t 35% Jan Feb 250 21.600 „ 19% Feb Preferred 22% " 15,100 • new Mftlartlft Bladen 44c 2.20 Marlon 22 46c new Biscoe Gold Feb H 13c _ Simpsons Ltd A < B new , 15%c Jan lir; L Marcus Gold 25 16% 1 Preferred Maraleo Jan 910 . 16 1.30 ——; ■;'£ Preferred new Maple Leaf Gardens pfd, Maple: Leaf Milling Co Jan 20 22 13c 1 common. Silverwoods Manitoba & Eastern 80c ' 40c Sigma Fields » 25,650 25 " 45c ** i >• Feb 1.07 24 "32% TV-' Mines— common Silknit Ltd ; *f Jan 99c 5.75 Macassa Li—ii.—— Macponald Mines i Jan 64c Jan —16% ; i, Gold > 38c * 26c 51c ? 1 -_I. Jan 12,500 ' 8% —* Scythes Ltd new common,— Senator Rouyn, Ltd Shawinigan —————, Bhawkey—u.—— Sheep Creek— 10,800 42c Mihes Feb.M 22c ■:/?-' ' V* Gold— Sand River 3:30 30 Feb* il 76c 37% . 32,600 21c 50 1.26 r 30c' 51% —Ji 2.90 Feb, Jan - 14%c Feb •; Feb 60c 53c —10 Ban Antonio Gold Mines Ltd... 31 220 10,300 • Jan 18c 24 .——1 . .64c 34 46,850 , : 40c , 55c — preferred-——i—. 1.32 t 1.70 Feb ..26c —— Lawrence Corp common—- Class A 71C Jan 56c —.10 ?1' 1 Gold Mine 3.10 1.60 . 1.06 " * Co c 8t Feb 7 26C .—1 : 13c . .._^.* Russell Industries common —* —• ^ " . Lake : RyanorMinlng—— —• —1 Mines Lynx Yellowknife Gold \ 1, Little Long Lac Gold Mines Ltd, Groceterias class A Class "B" Loblaw Lou vicour t !_ Mines — ;^> Lebel Oro .. 35% Oils * << Jan l i 23% Jan 64C Royal Tinwir; Royalite Oil ' ■' ;• Jan Jail 1.25 Jan 7 %c 35% Roxana .9.000 —* 32c 8,303 17%c 12,660 — 5,800 16c i8c Mines Gold 1.00 ; 2 Jan 1.85 Jan ■ ' 35c 37%c 65C * Silk class A Rochette 52V* 17% Jan 5% Jan 300 60o 1.60 —-1 Gold 1. 25.515 ... 3.800 .1.50 Richmac 1,700 2,028 - —• 1.60 - L_ Riverside 1,363 17.707 7# ——1 Rouyn Merger Gold Mines. Mines,, .—I ——, Roche Long Lac___— common Lamaque Gold Mines.,—iu*— Lang & Sons Lapa Cadillac 21% 7 — .'14% Feb' - ■ , 15c -fri 10,100 ; 18 % — Jan 1.40 •: Jan 77c Jail 1.03 Jan 9,500 . Jan . 105 90c High 11 51 1.150 , 1.25 Regcourt Gold Mines——— Reno. Gold 1.27 --<? 20,800 14c v 82c 1.15 20% — n*- Range Since January 1 Low ■ 1.70 $; :'■> 3,700 82c * — 'v . i: 1.22 Mining Quinte Milk Products : 9,215 3J85 $1.25 —* Mines, Ltd Woods Luz I —1 > 25% . Lake Dufault Mines Ltd..,. Lake Fortune Gold Mines Lake ' *■ (John) 16% 17 Sales High 1.50 * Manitou, Queenston Gold Mines 1.400 Kirkland Quebec Shares 13% :: 14 52% 52% Quebec Gol(L.—^ Kayrand Mlntajg (or Weak Low common— .Prelerred -i————^—4, - "7,400 5 8.795 - Week's Range of Prices • Sale Price High Jan 6c 312.920 1 Friday / 3,242 1 Quebec FEBRUARY " High 8c Monday, February 18, 1946 Range Since January 1 Shares Prices For J M Consolidated Range ■? Sale Price STOCKS- • Sales f«r Week Wwk'i Friday ►. & FINANCIAL CHRONICLE y ;x .High 23 A Jan 35 Jan 62 Feb 933 THE COMMERCIAL & FINANCE uxTRONICLE Number 4465 Volqme 163 CANADIAN LISTED MARKETS •• Range East Sale Price"* STOCKS— Beath Pulp: &- Paper "bom-,* British Columbia Co common- .'•<4 Preferred; .95 93 % 96 21% W-" A// A /. ■/' J-v Canada. &" Domihlon Canada^inegars 157/g 16 4% 3.55 905 ' Dalhoirsie . vl6 - - 55c 7,800 --5 50c - Bridge Dominion Textiles Donnaconna • 94 80 1.91 - : 85c Jan International Power 20 Jan r .17% 05 i—.»• .1 ; Osisko 48 > > 2*15 Reliance ■ / 128 20%. 22% Grain 5%c 1,500 5%c 1.85. 4.25 4.45 4.45 Jan 1.27 23 * 26 * 27c '•'.Mf <> t: a——. .35% 49%/ 1,258 45 ' f 23 % 46% 8TOCK6- Jan 8% Feb Jan 38% Feb Jan 96 Feb 49% Feb 125 . .. 53 y2. Jan Feb 133% Feb • Jan 26 Feb v Jan 27%' Jan 49 Feb 55 Va 53 104 Jan 3,575 50 15 :• 25 25% 30% 31 % 22 22 ..——.3 23 23 100 Ltd pfd—.——25 25 25 79 Ltd Serv *' com— * 25% 22 -• — coni——.* 82 42% 12% Mitchell L ..... Jan 80 10,700 20c Jan 27% Jan 29 Jan 31 % 910 18% Jan 22 Jan Feb i9% Jan 23% Feb 23% Jan 26 Jan : 19 19 30 30 30: 29% 30% 82 81 82 —100 143 33c Jan 46 46 ------ —— 30 •" Acme JJlove Works (Hah class Ai_i-w*—" < 24 85 16%' 225 *••14% Jan 17 Feb 5 29 Jan 31 Jan 23%' 565 22% Jan 26 Feb Jan 103 Jan 106% 23 - 103 • 103 5 107% 108 20 ' 10%*, 100 % 100 2% 31 a 10% A 64 64 Feb 56 Feb Jan 12 Feb• ^ 60 60 Jan 1,693 20 A Jan- A- 64 Mines Eiuck Silk Mills common 22 Jan 1,715 27 Jan 21% 22 30 30% J 24 24 17- 17% 17% 143 • common— Canadian Car & Foundry common — common — A 516 14 y4 Feb 18 Va Jan 22% Jan ,293 52 29% Feb Jan 3,567 22% Y» 22% 23% 75c 60c. 47% Jan 52-,,m Feb 19,254 16,636 50% 51% :18%?19% 635 Jan 35c Feb 60c Feb 47 Jan 51% Feb ■ H.A, 20 y4 Jan 35% Feb t 66 67% 42% 42% Jan Jan 692 67 18 42% 59]/2 Jan 67>/4 Feb 40 V2 Jan 42% Feb Feb 18 10,853 200 17 16% ,. . Canadian Locomotive " 52 53 242 47 -Jan 17 18 4,700 17 Feb 14 ? 15 450 14 39 3,213 35 24% 6,510 21% Jan Canadian Pacific Railway —; 24 Ve v 750 17% Jan 78 Jan :/ Jan - Jan Twin 89 90 1,071 f 41 y2 Viau 80% 190 48 1,705 49% 30% -.15%/./is/: ^-Class^&^--v-i--J--ii— 49% 31 15% 1,245 ,,;93% 100 43% 41% 1,640 42 Bridge Coal preferred Domin-ion.,Dairies common— Dominion — 1—25 Weston -35 906 14% 33 • 15 Feb 43% 5 33% 17 V2 Jan 61 Jan Jan 102 A//15% Jan 18 17% 21 86 23 87% 23% 32 50 ; :/ Jan / 86 Feb 94 21% Jan 29 Jan 23% Feb 32 Feb 35 ' 425 V 14% Jan 13 25 16% 18% 12% 16% ' -79 213 87 Feb / Jari : 16 Jan Jan Febjr ,; 1.75 Feb " 85 87 / _ Jan,->0j'nr 15 , 1.30 5,375 1.30 82 Feb Feb' 45 /. Jan 18% 546 Jan • Jan: v*:. 106 . " 20 102% 15 * 5,718 15 Jan 37% 510 43 v / , 86 • Feb / 87, v * 18% 12% 16% 10% 109 118 Jan , 12% Jan; 74'A Jan 77 1,266 109 Feb 16% 76 V 29% 105 25 155 : 25 ; 150 .15% 99 99 38 36% Jan Jan .23. Feb Feb 27 Jan 30 Feb 105 ; 196 127% 105 " 25% 105 Feb Jan Feb 22 Va 455 23 15% Feb: 19% Jan 16 29 15% Jan 8%, " 37 251 22% 23 17% 4,405 27,151 Jan 118/ 76 ; 84 24 ; Jan "15% Jan Feb 25% Feb 17% Jan 65 95 Jan 100 Feb 1,065 34 Jan 38 Feb 28%' Feb 30 Jan i * preferred/./— 25 28% 28% 38 28% .10 21% 21 22% 1,450 16% Jan 22 22 22 y4 2,460 19% Jan Ltd Jan 39 1,786 common. Zellers Jan 36% Jan 3,090 105% 106 ;• 19':/ 20 < 15% 15% f; 83% J^n 9V2 " Feb 36% Jan 105% Feb :• Jan 8 32% / Feb Jan 18V2 103% Jan 250 / Feb ; 20 V2 Jan •/ 19% Jan 17% Feb 80 32 1.40 100% .575 87% 13 - 1,025 ? 23% -/ AO Jan Jan ■- •• 34 39 • ; 124 Banks —10 Feb Nova 10 25 Feb Feb Jan Jan 764 21% jan; 415 33% Jan 35 20 Jan 24% Feb 49% Feb 493A Feb. 25 24% 35 24% 34%- 35 24»/4 24% 1,790 49% .1010 ———— Scotia Royal 22% 22»/2 25 ... ....— 49% 49% $26,000 - BondsPower notes— 31% Feb 15% ;- ,114 45 Feb 13% Jan 10% Jan 188 Jan /f30 Jan , Feb .50% - 9 32% 18% Winnipeg Electric common —• Preferred, ,—***-.,,..100 6% 105% /——• ■ VV Feb 560 .—...100 Ltd 23 Feb / / . —f common—, Preferred Wilsils Montreal iv, 41% 1,225 33 29% Jan ■->.J3%- Jan 93% Feb : common (Geo) Montreal 11 14% — 11 i--*--*-. *; Biscuit Feb Jan 21% / 15 V* 18 * * Wabasso Cotton;.:/—1 Walker Gooderbam & Wprts com....r* Preferred .72 150 733 v 20 ——* Corp Canadienne 91% Jan 31% 43% Steel Commerce -V-18%: jan; :4 Jan 43% Distillers Seagrams common. - 840 43% Davis Leatlier Co Btd class A—-, Preferred, 88% > 18; 109 Jan •550 18 8% 34% Feb Jan ' 70/ 46 , 38% 34 13% City Rapid Transit. United 24% Jan .. / 17% 18 Cockshutt Plow Consolidated Mining & Smelting.. Consumers Glass — Crown Cork & Seal Co——, ;-9./ ■ Feb 30 *'•! 2,615 21 105 Jan S150 : Feb 1,107 58% ; Feb 18% Jan 103Jan Jan ■ Feb , 56 Jan 50 "17 . 8% 55 16 18 15% 26 102% 1,770 102 20 Feb 177 Jan ;• 31% 18 —• ■' Power.*/—./——* Jan Jan 7j/4 r 195 20 _• common Steel Co of Canada common—./*.*** *, PreferredI......—... 25. 39% Feb • 25 Breweries 525 180 < * Jan 21 Va 447 : 17 20% Jan 32% 175 24 /, 22 55 Feb 29 72 , Jan 18% • Jan 23 - Feb 37-/ — 37 ——. 53 22 Jan ' com Standard Chemicals common— '.Rights • my> m— Investment Foreian Canadian Ind Alcohol common— '. Class *B ————-—— Canada 905 / Feb / ,29% 63% Jan ; 12 | Jan : 30 Va Jan 861 8 ,1 . . Jan 115 * -■ 946 35.25 16% 27% Feb 22% 33% 2,745 , 35.10 —— Feb Jan 12 common Southam Press Co.——— Feb 144 Jan 131 Williams of Southern Canada Feb f" 19 Mills Jan 26 56 15% - Sicks' Febf A-' 24 • Flour 24 90 : 24% 102 •; — — Simpsons Ltd preferred..*..———.100 Jan 31 26% 35 210 60c 51% * • 25 * —100 Jan f 23% • 23% t Jan 14% 14 50 ;—* Rights 20% 27 : 21% ::§o Canadian Breweries common Jan 23% Jan -1,069 144 14- common " 20 ' 31% Feb MA5:' Jan * Feb 198 27 22 class 285 1,245 4% Sherwin . -■ '5%"vprefe|rred • 410 4%, vn loo ——— Preferred Canadian Converters Feb 1,530 31% 24 —. Canada Forgings class A Canada Northern Power Corp Canadian Celanese 23 23 4% 30 Building Products class A_ Bulolo- GQld Dredging——.*4-.-. Bronze Jan" 30 --,4,016 Lawrence 3,251 '• Jan 46 2,165 58% ' St Lawrence Paper preferred 100 Shawinigan Water & Power—.*— • Feb 30% 22 21'A —. Canada Steamship 18% Jan 28% 4% Preferred Feb 26% 19 . Jan/ 192 Jan 18 850 18% 27% 23 Class B Cement 181% ,2,020 18% 28% —- Pr Corp A Columbia * * 188% 190 189 30% Ltd— Light & Power—British Amer Bank Note Co Trac St Jan 34 16 ..——100 St Lawrence Corporation common....* : A preferred' .50 - Feb •A44% 31 Sagu'enay-Power preferred Jan Jan 51 22 1 . 20% Biathurst Power 45 Paper class. A— .100 Bell Telephone Jan 70 31% Rollgnd Paper common———..1..—* 10% Feb : 44 V* 150 ' ... Jan/; 105% 1,208 :: so; 32% 33 •/liif'v.""v'' « ■ Feb •? 32 30% Feb IOS'/b Jan" 70 18 >«*» > Feb 150 '<:fM i;/ •' 1 * Regent Knitting common v :M-/ • loo preferred Provincial Transport Quebec' Power Feb 22% , -,- Feb 56 177V/.: 55 "/ Cq_...u../—w-*.—-- 50 Jan ,590 17/17%: ;/i./15 ,102% 102% 34 Corp of Canada— 5% 3% Feb 35 y*- Jan 31% Jan.10 y* Feb Power - Jan ;69%^. 7%. .100 Development 47 ,30 15 29% > 28»%- 24 ;— ... : 30 60- 46 177 >; — common Jan 820 A 46% 68% . Price Bros & Co Ltd common^..*. FebA 100% Jan Jan 2 ; 6i 20% Feb 20 98% 1,852 Tubes. Powell River 108? 9V8 180 . Feb I 152% Jan 1,550 10% 20% i—0 ^ i Placer 56 10 69 * 100 Preferred Jan 6,045 3 n 32% I: Page-Hersey Feb 25% Jan 28 ' 27% 28% 28 100 Penmans Ltd : Feb 143 Jan 22% 30% • Preferred 141 53 47 45% ; Feb 17% 106 40 ■: 56 10% 106% Jan 130 290 * 20 - 56 ^ 395 152% 151 ^ 103 * : Feb ■' • Ottawa Light, Heat:& Power..— Jan ■ Feb 82 3 46 • ■ Ottawa Electric Rwys High Low 20% Jan ,103 Jan 30 *30.; 3€' &ki Asbestos.Cor ^ 301 Feb 32% Jan 88 50 32 Aircraft.. Car 30% Jan ' '.25 common Jan V 81 5.116 30% common Products Feb 27% 30 45. 100 Steel Ottawa Range Since January 1 : J ,23 16% '■ Ontario Jan 20 30 105'/b 105 y8 !♦ Preferred , . Prices,.:Scares 106 Amalgamated Electric Corp—f ;' •> Anglo-Can. Tel. Co. preferred——.—50 Argus. Cofp common^—— —* 10% 4%% convertible preferred-——100 100% preferred of 22-% - Tel & Tel ..for Week Low 22% —2* Ltd com Sales Bange Feb; 15,743 - 50 :i Noranda Mines Ltd Jan 19% 970 25% ■ 80 16% 1,160 143 23% 25% Light Heat & Power Cons—_• & Mortgage. .25 Montreal Telegraph 40 Montreal Tramways 100 Murphy Paint Co common * Preferred v 1 100 Jan ,14% 1,416 30 _ Jan 12 Jan 80 351 6,486 19% . Jan 5 SO 18% • * Preferred Ogilvie Flour Mills Week'a Feb 25 s§ 18; Montreal Loan 3 • 2% Feb Jan 15 ;' 255 : / * - (Robert) Montreal Jan 28c ms'ft MontrealCottonscommon—(.j,.—..100 ?;£' Feb P 46% Feb . Jan 43% 1.115 ; 80 * * Molson's: Breweries.— Feb: 15c -Feb 10 Jan 105 Feb 900 • 18% 100 • .... Massey-Harris % Jan 46% Fel? 20 Jan 23% 316 23% 104 y8 104% 42 Feb 35% Jan 46% 2,645 • V 22 V2 Jan ,33 40% 14% Public Preferred Feb Fundi •Agnew-Surpass Srioc eommdni^2^,-i* r? 23 Algoma Steel comraen__ —.a—* Preferred —---^-—^100 Aluminlura Ltd i! 152% 103 Aluminum'Co. of Canada pfd—^^_100 • 210 42 MacKinnon Structural Steel Feb i 58 25c 565 46% I Sale Price arid Atlantic Sugar common-*** preferred 100 Dominion r :> 5.00 Feb Feb 58 — 2,770 '%% 15c Par ■ 130 49 50 15 Corp.— Secord Legare ' 27c 2% 16c fad Canadian 497/s - 125 100 ... "7% 17% 360 / Jan 7c 19 10., .. 46% r- Friday Preferred Feb Jan 32% ".470 23% —• (John) Laura 2.56 Feb Jan 2.70 Jan 6,210 58 20 Canadian Canadian 15% 22% 35 * Lang & Sons Ltd John A Montreal Stock Exchange Canada Jan 21% 49% National Steel Car CorpNiagara Wire Weaving British 13% - 2,468 15 common Utilities Preferred Brazilian Jan 8% National Breweries common..^—.— Bralorne 17% 38% 100 Ltd McColl-Frontenac Oil 58 / 58, Stop & Shop,.—*—; * Supertest Petroleum ordinary.;:—a_>«* Temiskaming Mining——Li—*j£.l ->• -i -v-"///' W -" $6 Feb Jan 8- * * com Labatt Jan 135 4%c Jan . 112,240 2.34 * common— : Associated 45% 15% •; 3,037 15% 15% Lake of the Woods Milling common—• j 53% Jan Jan 18% 8.680 5 V2C ——• Miff- '5% 37% Jan 6,898 35% Jan * 39 Jan 127% 70 21% / —zl * common,.— Southmount Investors Acadia 3,790 ,16% 40 Jamaica Mf: ffJ- * Oreille Bros 112% ,35% , Jan.: 18 * • 48 2.665- 49 % 125 49% Minnesota As Ontario ,,paper^*^«**..:5 ■/ Oil-'Selections.. Price ■Preferred Feb; Jan 23% 44%. Feb 110 Jan 1.V5 Jan 1.171 Jan 242 . International Paper common———15 Preferred —J----. —100 Pend . . 45 Jan Feb ; 92 ,: *»- • International Petroleum Co L Jan Feb 33 16 1—25 — International Nickel of Canada International Paper common.. Preferred i / 530 , 35 30 34 • „ 'Preferred / 1 Feb Jan. /, 12% Jan .8% • • common Feb : Feb Jan 30% 42% A ' 15 V2 International Bronze Jan', Jan 41% ■,/ 43 —_£1 f' — 18% 40c 17% 1.80 1.90 —• '/ ... 255 95 17% common—— /—1- Hayes Steel - '. 42% Paper'——— Foothills Oil & Gas ^Preferred Industrial Acceptance Corp com..— International 41% / Imperial Tobacco of Canada common_5 25 a High ■ 9% 1,125 110%;: 110 ; Low 3,550 v 32 31 16%'- fii 4.00 Jari 17% w; Jan/ 61% • v'^Jan;;-■ 21., ; --- Feb €3.80 Feb Jan i: ■//<•.■,'///;' ;V/"?,. 1 '■ Dominion ■; - '• Mining— .imperial:Oil 16% Jan // 5 P. Jan 2.10 Jan — . .17%.. 17% 50c •; ■ 550 . -8,366 23%" 23% ——4* / i _ : 16% .a.—— Range Since January 1 High 10%:;, 1-1%; : . 57 3o•// 2.6.0-2.75 17% 2.60 — 15.210 60. 61% 61 %. Coast rCoppef—_ 5 / Consolidated Paper / Consolidated-JPrtess At—--A Disher' Steel common.,.-—.—." 3.35. 3.50 ' . § Shares - 24, 4 % Feb '"2.95; Jan ;/ v-.-i Low * A-'i 11% 32• 100 110% % — : Hudson Bay Feb ; Jan'! 29 14% Jan 70 4% _-^l ; Jan-;' 2'6'%^jdn!*:' .4% Canadian"Western'.? Lumber-i»-^J^-2^€ Canadian Westingho use, -——I.—.4—*' - 300 96 :/ Jan 20% •Preferred ,. 23% Jan 20 27%- 28% 157/b • __si Marconi 84 Jan Bridge Howard Smith Paper common Jan 7% 6% Jan ; 60■: Jan 58 65 Hamilton 32% Feb-'. Sale* for Week of Prices pat High . Jan 17% 296 ; 24 24- ' -v'. ;/=•- .'/ 27% '; Sugak^/i.;. Low 145 22 ;Bulolq^OQiid-^^i^-wi^---^I^-^5.' .;//*/:/-/«/■ :M 4,906 7 ,21% B'iruckj Silk Canadian .63" : r* 62 6%- Week's Range Las* Sale Price STOCKS— Range Since January 1 115 32 % > '' 67/a' ■ ■//•/■:// -.- Shares High V:*///■ 32 Vz 62 i—1 /—-100 — 1.5 for Week of -Prices Low • •■ 'J A—...L——I——: class Brown ' Par ' WEEK ENDING FEBRUARY FOR RANGE Friday Week's Friday V.v«- Sales Feb Jan Va -Jan 15 Va Jan Montreal Curb Market liy2 Jan • 31% -Jari:-;;'"" Jan; 33% Canadian Funds 37 Dominion Foundries & Steel.————» 179 Dominion Glass common——100 Dominion Steel & Coal class B 16 25 Ltd. —.—• Dominion Tar & Chemical common.—• Dominion 23%. -25, .-/ Stores A: :i: Preferred,: ; ♦ —100 Dominion Textile vonwnon— Preferred — -;Dryden Papef- 110%; 95% 179 15 24 25 15 / 860 14% 31% 175 520 1,406 95% 13% 109% 90 32% Feb Jan 112% Jan Jan 95% Feb 15 15% Feb 24 V Feb . 165 Feb 170 Jan .14 ; Jan Feb 16% Week's Friday /Last // Jan 16% Jan Jan Feb 180 Jan 25 870 170 37% Jan Jan 21% 1,723 25 110% 110.40 94 5 1,338 5,605 16 23% 170 - s&j 37 179% Sale Price STOCKS— .....•:///;; Abitibi 6% 7% Low Power & P&per common..——* cumulative preferred 100 preferred*100 8% Salts for Week Range Since January 1 Shares Low Canadian Corp..——• Foundation Co of Canada^—.r* Gatlneau Tower common————* 18% 19 Jaft 20% Feb Bathurst Pow & Pap Co 29% 30 525 29% Feb 35 Jan Belding-Corticelli 7% 12 Famous Players 18% 30 12 12 162 10'A Jan ./-;13%- Jan Belgium Glove & Hosiery 49% 49 60 338 39% Jan 18% 80 '< . 5% preferred preferred 5% %■ 1-— Preferred (Charles) Gypsum, Lime & For —; f Alabastine footnotes see page •: 937. Feb 111 Feb Brown 227 28% Jan 34 '16% 253 14% Jan 16% 72 105% Jan 20 110 Jan 19% 9 9 16 9 -- 16% 15 35 2,340 v 19 % Jan / 106 / Jan < 9 / Feb 930 20 107% 107% —————100 common.— / 14% Jan ———— 110 32% 16 109% 110 * General Steel Wares common Gurd preferred—. ; Feb Brandram Jan British American Oil Co Brewers 16 100 100 — — 5% 20% / 177 Feb Company 61% 9% Jan /: 17'A Feb /- Calgary Power Co Ltd 6% pfd Canada & Dominion Sugar Canada North P Corp Ltd 7% 62 6% Jan 7 158 6% 158 532 ■/'' 2 156 Jan 14 15% 2.810 14 Feb 15% Feb 436 18% Feb 19 •' 45 10 Jan .15 18% ' 19 15 18% 65 15 / 13% 14 27% 46 47 95 95 ; 22 2? a v 110 111 765 28 / 54 Feb V/ Jan 14% Feb Jan 28% Jan 47 Feb Jan 95 Feb Feb ~"22 22 : / Feb/ Jan 86 / 5 22 28% . 380 . Jan 13 110 95 Feb jai an^ 26% 1,601 47 Feb., 38 /: 344 26% 27% 100 -• pfd—100 : Feb 150 158 of preferred——...—100 182 62 6% 6% Henderson Distillers Jan 1,075 Feb 107% & 100% Jan/ 61% 15% com *— * Van Ltd 5 Ltd————* British Columbia Packers Ltd— * 32 110% 111 32% ' A Jan 50 Ltd cl B * pfd—.——100 Jan Jan Jan 99% 182 98 * ' Electrolux .Corporation „rl.. English. Electric cfass A-—.——.— High 9 7 93 4,953 180 99% .* .... 8%, • Hiah V/o ///:// >/Par .;//////. Atlas Steel Ltd Range ; of Prices 25% 109 Jan Jan Feb 29% Feb 111 Feb ? THE COMMERCIAL & FINANCIAL CHRONICLE CANADIAN Monday,18; 1946 LISTED I MARKETS ETS RANGE FOR WEEK ENDING FEBRUARY 15 Friday: / Week'*-A- Sale* • Last//*1; Range ■$ for Week ■ * 8TOCKS- Sale Price •f of Prices Low Canadian Dredge & Canadian Food Dock Co Ltd High Products*——7—7—J£>. General General Investments Ltd.—•* 21 Eltectric——-77_7_* Canadian Industries Ltd Canadian Int'l class B—•- Inv Trust Ltd — ; 5% preferred-—. Canadian Marconi Company— 1 l Canadian. Pow & Pap Inv Ltd com—*- preferred —7—7——7.77—7 Canadian Vickefs Ltd common A/ • 43/4 -/. 15 ; 14 14 / 3,50, 3.55 — • 2 7 Ltd 61 • Food Prdducts Ltd General Preferred Adv 13% • com . ■■■' Alcohols Ltd Preferred J-iiC — Consolidated Bakeries Consolidated Div ■' Preferred Bee of Canada Class 2.50 Pa pgr Aircraft Ltd 16 Feb 16% Jan ; Feb Feb —* 75 Brazil Gold 19 Feb 8% Jan Feb 16 Jan Feb r 18% ; Oilcloth Dom Dominion 1 iv & Linoleum Square Dominion Ltd Co. •/ " Feb. 23% 40% * 26% 7 Woollens ; Goldbeam 17% 1.705 Gohovee 18 — 4,235 Ooldora ——A. Eastern Steel Products Ltd new com!!* lairthild 6%% Fleet Ltd^__ • 4 6% —100, Ltd Power red ; Fraser •8% v Sec class pfcl_! i.—100"' — — Companfes" / -1 -- : — Halifax -Insurance Hotel de LaSalle Hydro-Electric Co Inc_l*7 Corp_!v— *. i'. International Journal Lake Paints Ltd A (Can) John St Paper & Lambert (Alfred)-. Inc., 135 MacLaren Power & Paper Co Maple Leaf Milling Co Ltd common Massey-Harris Co Ltd. 5% McColl-Frontenac Melchers < Oil " 11 -11% ' 14%. 14% t- 39% • Preferred 28% 106 0 10 Mount Nova — & Ontario Roval Hotel Co Scotia Light & Nuclear Feb*' 32% Feb '16% Jan' Ltd t 7T5 ?;-77 *£ Power Co Ltd 34 - 15 — Jan ; /.;/ 44 Jan - ' 63% 'Feb ' -12% Jart > Jan Jan . Jan 28% Feb35 Jan 365 7 104% Jan Jan .8 753 17% > / 106% Jan' ■ Feb 11% Jan - 1,893 15% 18 Jan 4.865 18%. Jan "1 23% Feb 29 77 30 2- Jan r Jan 11% 210 Jan .7'^257; 10 Feb 19% • 16% f Feb Jan C 100A -Feb 98% Jan 20 - Feb 18 73 $ Enterprises, Ltd-————* ' 8%~Jan 13% 14V2 ,100 C 100 . > 25 19% 16% 16% 2 Nonnetal Mining Corp Ltd Norseman Corp of Can. 6% 1st pfd 100 part 2nd pfd__-_——!_50: 6 ','r ■*.' Feb 12 Jan Purity Flour Mills Co Ltd Quebec Pulp & Paper 7% Preferred ; Ltd : i red pfd—.100 Jan 56 Feb 14 550 11 Jan 14 Feb / 38 6b stowell Screw -, Thrift Stores Ltd 39% „/ 20 20 109 1 12 12 25 : 301 ■ 37 Jaii 20 ~ pfd——-10l 8% Ltd.-^!—-—7^.-, -28c Feb 26c. 41 f 7'" ' ■"■twiTw m?l iwtfl Ltd common—7:1_—.71^:'f Pato Cons Gold Dredging Gold Pitt Feb Jan 1,676 29% V 41?* .- 15 16% 16% Stocks, 26c Premier Gold Mining Quebec Yellowknife 100 Feb 14 - Jan Jan 30c Jan ;29 % Feb 15 Feb 7 r ; 16% Feb 7 — 200 7 7.501 1.85 1.69 1.93 •* iswy» 27o 3.20 2.95 28 %c 38c 29c 38C 1. i 40C * 6.90 *' 3.20 2.99 2.99 2.99 (19451 Mines 24c ; Jan 35c Ltd- Gold Mines Blscoe Mines Rock 24c 1 Feb 15c Jan'"/ 27c Feb 5.100 62C 6.600 1.05 98c 1.08 33,415 38c 3,600 4.25 4.25 500 2.95 • Ltd7—--7——77-1.7' — , 3.00 3.00 T 3.00 3.00 28C 39 Vac 39c - —I". 24C 1.01 2.80 3.00 4,500 24C 7 Jan! \ Feb 3.10 5,685 •Jan/7; Jan 35c Jart Feb 25c 500 Feb 24c 17,100 ; 4 Jan Jan 65c 19,500 1.45 i 60c 4 Feb 1.67 35c — / ,,200 10.525/ 1.31 — -1 —1 Mines Ltd—7 30cj: 2.06 T 1.06 :1.15 — Upper Canada Mtnes Ltd--—!—:-7—1" Villbona Gold Mines——————1 Wiltsey-Coghlan '' Feb 2.99 7,800 62c 1.38 Mines Ltd— Iron < 3.20 Feb 7 5.700 1.85 •• —1 : Feb, : Feb 24 1,500 18c 27c 4 — 1944 Ltd— Standard Gold Mines— Steep 270 2.00 ,7—1 Sladen-Malartic Mines Ltd— Stadacona ; - ~i — Jan 6.50 300 16C — -7—1 .-7 Ltd Mines v 'Feb/7 30c 34 lie • Rochette Gold. Mines——1' Shawkey ; Jan 3.15 7,400 u 100 Feb Jan 1.09 : 20.000.! : ' 27C 11,028 *; ,24c. ,27C t 3.20 3.20 - Jan Feb 2.30 34o " 13,350 ' 6.90; ; -270 4.60 2,000 r . 3.20 : 28c • Jan " Jan / 38.510 : - "27© * , Feb Oil Stocks Anglo-Canadian Oil Co Ltd-—-. Corp,'Ltd Home Oil Co Calgary & Edmonton Homestead Oil & Gaa Ltd Pacalta Oils Ltd Co .. Royalite' Oil Co* Ltd**—7——!. Bonds : Sales $2,000 17,000 $3,333,500 5,346,800 Holiday IS, 1946 Shares} Domestic 506,350 $322,000 788,765 293,000 374,000 7!««,7.;7--.-—**7~ Tuesday.. 288,000 Wednesday 6,757,600' 1,776,755 $27,783,300 v 1946 • 347,000 . . $1,461,500 3,536,155 —, $1,765,000 $1,918,000 $14,000 $139,000 Week Ended Feb. 15 1945 : ,..$342,000 $1,000 '309,000. . Holiday ' 7'AA7 7/">■■' 777'"// 22,000 13,000 382,000 42,000 7. *— 341,000 : .40,000 ' ' 7***7* 544,000 . 299,000 504,000 880,610 Total Corporate ' $20,000 15,000 . 741,360 619,070 s —• Weefc Ended Feb. 15 7,124,430 Government .•■tA — Thursday*r-*—,*.—**-~~-7~ 352,000 * Bonds (Pur Value) Foreign Foreign ^ 8aturday-77——*-*7--.77——. 5,987,300 .7,124,430 ■ ' h 0/ Monday*., $212,500 235,000 * 6,824,600 1,691,310 1,289,370 • Stocks (Number Week Ended Feb. 5,094,800 Exchange ' Bond ■ $3,119,000 Btocks—No. of shares-.—*—. , 4,018,483 ::/;:7v7/'77--Bond*0.8, Oovernment!——7.!7 Foreign 1946 1945, < 998,460 3,536,155 Btocks—No. of shares. Domestic ■ . 2.30 '34C **36e 36C" - Feb 1.25 11,925 . ' 1.45 9.100 2,800 6.35 ——7——1 Total-———- Z 1.60 2.30 6.10; Total Government Bond* - —, *7*™. 1.38 5.95 * Friday-wi.*—*—*——— Total 1.32 1.51 : Jan 22 24,700 ' Daily, Weekly and Yearly United States ——• — 1.32 737c Jan 8.00 24% 50 34c Transactions af the New York Garb Foreign Bonds 922,495 —— Jan Feb 1.05 Jan . • Sherritt-Gordon Jan :r 40C ,200 7735c7 , 7-1' Red Crest Gold Mines Ltd Feb 7c; 61c 37.260 1 Co Ltd—. I: Feb 15% Jan 51 60c 1.0O0 Ltd—•_7—1. JEast Dome, Mines Ltd—; Feb 12% , :66 1- , and Miscel. 1,444,300 —* Thursday— Friday———— 1.10 Feb Jan 118% Feb Jan 15' ' 109 Jan 26 '; -130' 'Railroad Number of Shares Week Ended Feb. 15,1946 Tuesday Wednesday 27c 4 Jan 171.412 • Preston Feb 75c - 200 9,300 ■ ; 7 1.85 Jan 500 ——1/ Mines— Daily, Weekly and Yearly — Jan • Exploration :——* Pandora.- Cadallic Gold Mines Ltd 1 Transactions al the New York Slock Saturday 41c Jan 21 Jan JY31 • Feb 11 115 20 28c 29% KAA 108 191 118%. 118% class^ >„v 7175 ■$* (V-r/W:*; ■. Jan 7 " 12 Southmoun^ latest. Co. ? 46 20 ' CanaAt Pr 6% Class R.; Jaii 210 " common--!— Bridge Co, Ltd Southern "•;;'-Yli% WO 56 13% 56: 109" Reliance Grain Co Sarnia ; 10- common: ; 54% 111111% NC 80c 1,000 Mines.'*-v-——r>—-7—•—-71' Sullivan Cons .Mines. Power Jan Feb 35,300 NeW'Louvre*77—7—-!77—*7-7:77771— •' O'Brien Gold Mines Ltd— Feb 1.14 .1.05 • 1,750 —————-L; [ 'i; 37.400 ;.l > • 2,245 7 16' 19 Feb 61 - 875 22%* 30 u 30 ^ L ; -415 " ■ 20% Minnesota Vis. Jan - 14 %r*Feb:/:-' 2;794 9% ' 15% Paper Co;.5 Montreal Refrig; & Storage 1st pfd—30 -2nd preferred^— -20 '■■■ t 105% • 16 - 39% 16% ' 29% * 16 pfd—__100 pfd 100 6% Ltd "common. Distilleries 60 1 • 60 — Ltd. 15 2 -25- - Jan 38.7; 4,000 • Negus Mines—-—7—--7—7-77 . Jan 3.55 Jan 48.30D-- Omnitrans 7 Co • 60c 29 2,500 38c -71 Macdonald Mines Ltd-—77—t-v—' Jan7 -V-V*.8 '<••*.: 'Jan;5 6% 32- 875 Power. Lowney 5 7% ' Feb/7 Jan 100 1.05- Louvlcourt Goldflelds— 32% '%:i _X 7." _J: ♦< Publishing Co. of Ottawa Ltd-*. Mines : Feb-7 900 Explor Co Ltd—.1 Ltd_7—77--——-1:' Mining & Shore Jan Jan. 7 30 --100 4.00 1.17 Lipgman Lake Gold Mines' Ltd7_7_7i-1 16% Jan -.18%. Feb : &Y» Feb .V":• •*>"' 5% Feb \ 450 „; . . Securities Metal Industries Ltd A__xi—„—* Int. Lake Jan' 715c .. 37C 7,225"-' 31% Mining-!———77—I Ling side Gold Mines ;:i7c Feb Ur . . 35c r 61c a/66c —1 Ltd Jan - - 1.760 Waite Feb Jan 30c Feb 10c 35,100 7 3.90 Feb 34c 7 9c <■ 16,600 Labrador 18 15 ..pilO %v 18%1 !! 61c •. Jack Lake Mlne8---__-__7—_7—7-*!.- 7 ,2,208v.r- ' 26 1, 41c J-M Consolidated. Gold Mines Ltd——1 48 * 39c 39 %c •• 72c 14c" Jan 77 ■ - -7,500 19.700 Jan 7 57c 94,400 • ;7l'./ 125 %'< 40c *50c 1 Mines—! Lake Mmes Ltd— Jollet-Quebec Mines ■Godfrey Realty Corpr_— : Cadillac 126 56 lie 44c 37c. Hollinger Consolidated Gold—7—7*7*711 Jack • ioc. 50c 37c 6 40c 21 7 Feb/y .39% V 2.500 1 Ltd— Mines 694 20Va 12,450 - - —7—1 Indian ^ 17^" __ 56 (A. ,J.)_—. / ^O'/a Freimaa Ltd 1 _1 Ltd—- Gold 1,535 1.00 ^ 15c Feb ' . 26c, Jan . --13,000 7 llcv lie : Jan 87c , Jan r 62c 11,300 > 15c. > I; ■ 7% 2,500 24c 11 %c Jan;;/ 33c -1.000 27c 7 2Dc » 16,500 ————————7-1 Mines Rock 31% Corp Ltd com——* 70c —1 (1945) Ltd 7% A-—*7; 70c. Jan / 52c 66c y Feb 2,600 7. 31% 475 m? • ; —5 Mines-— Heva 825 1.220 ' Motor Co of Canada Foreign 14 - 5 red Aircraft Ford , Aircralt Federal Grain Co class A 7 Mines—————*———*" Hard : 38c 21c —.— 34 r 35c. 393/4C 44'/aC Formaque Gold Mines Ltd——7—1 Found Lake Gold1 550 ■ 500 18,660 : ^ —-.7-7—1 Gold Mines Ltd Fontana Mines IOC 7 Corp—__1 i — 45c 9C 6607:7706 r Ltd———1 Mines Sullivan: Mines, Gold .45c -1 1 Eldona - 160- > Gold ; ?' ; _1 East 255 - - • Corp: Donnacona Paper Co Ltd 150 • 50 67 ; 1 Ltd Elder 4% , Jaii Bonds ; Railroad & industrial—* $101,486,100 $254,985,300 14,000 139,000 139,000 Foreign corporate—. $29,307,300 $605,963,950 , $14,936,000 / $28,159,000 $1,765,000 *"■"$3,890,000 Foreign government. Total Total—. "/ $4,045,000 $1,918,000 —. 612,000 2,307,000 16,000" : 98,000 " $17,341,000 7 104,000 $28,875,000 7Ali-O UV77/.7 7 - Slock And Below »Tteted on are Exchange -Stocks t. •-.o" • '• -. 30 ' ■ J5- 91 Febuary 11. February 12 February 13 February 14 February 15._ For 10 65 Indus¬ trial* D»t&— February Total — roads 202.30 66.20 _ 201.14 ties Stocks . 39.91 65.11 -- trials Ralls 119.16 foohi-.'Js 203.09 see page = *'■ Grade 10 Utili-.' Rails' '• tie* ;'7 Total 40 Bonds 103.04 110.14 109.71 40.00 75.12 106.49 119.12 102.72 110.09 109.60 64.81 198.74 199.75 Second 106.51 75.70 39.72 74.42 106.51 119.09 102.65 110.13 109.59 <65.11 40.14" 119.34 102.50 ' 109.92 109.58 Holiday — Brooklyn Trust1 10 First Grad* • 66.35 937. Holid '• 40.72 74.84 - 76.12" 106.57 • 106.50 119.25 Trust *' 109.96' 109.58' 20 Co Continental Bank Empire Trust Fiduciary Trust First <fe Trust—10 Exchange Bank 6c Trust_20 National ; ; Bank. -50 , 54% ,139 . 122 % 118 % 10. Commercial National Bank 6c' 457 135 15' Chemical Bank <fc Trust- Corn "102.62 100 .' Bank— National Bid A- Ask 35% 33%. / 100 : 445 : 10 52% Central Hanover Bank «fc Trust 20 Chase City Banks & Trust Cos. :'/7' Par -7 Bankers Trust 10 11 Utili¬ J Manhattan-Co—10 Bank of New York- -Bondc 20 . 7 and compiled by Dow, Jones & Co Rail¬ ; ■■ of representative stocks as- Indus¬ rj New York Bond/Averages the daily closing averages the New York Stock i m ',,.7,40:. T"7 —; & Diamond M Cournor Mining Dome.' Mines^' Ltd Feb 2% v Jan / Feb 325 .1,000.. , ■.7^'; '. Centremaquc Gold Mines-—»—7—1 Century Minig Corp Ltd,——'—7—1 jiovv., David & Frere, Limitee B„ Dommlon Engineering Works ;Ltd—_• Dominion Malting Co. Ltd 20 Ltd Cartier-Malartict Gold Mines 1.50 Jan; 1.85 (1937) Central Cadillac Gold Mines Ltd Feb Jan 7300 22 Bouscadlllac Jan Jan Feb 7/. Mines Bonvlllc Gold Mines Ltd Jan ;: 7 6% 1.00 15% J6 . .2% 90 Feb 43c .770' .31 ; .150. :,-77r .$0... t 1 — - Jan Feb 50 113A Beatrice Red Lake. Gold-:—j-—7—1 Beaucourt. Gold Mines, 1 k Jan Jan 19.478 Corp Ltd-7—— Corp >. 16% . Quebec Mines. Ltd— Aubelle Mines Ltd-*—; 7% 135 j396; 16 ; Astoria Feb 5% 295 1.30 t v ; U,2.tf V 30 ; Mining Stocks Feb 10 60 ^ 2.880 18% • 14% 7 .——100 Alger 1'Gold:^ Mines:-LtdL!-77t^——7—!l Mines Ltd. —i • Athona Jan LOW Products Corp Ltd.— Arno Feb Feb 60C .100 - 62 Jan , 16 •; 390 60-. :5% 7:,., 5 —v. A ^ Consolidated Cub common^—• Feb 10 40'.;, .820: . 65c 100 , _ Commercial Jan 3.80 U% ;„:..4o.. 16 i:yl .— Neon 57 372 490 18 v 5':b preferred / —-'—-15 Chateau-Gai WihesTLtd—7. 7. *' Claude Jan 14% Jan 14% common—*' Jan Jan 18 y2 ; Feb /.. 2.95 v. United Securities Ltd— Range/Since January 1:7 .10 '..; 15 ] : /• Shares High ^>;'1 Windsor Hotel Ltd7»------———: ' Woods Manufacturing • Co—,*' 5% 12% : ;7 • for Week ■. Ltd—!—* ' J —a-—' r {. Westeel 3V4 1.585 . Jan. 1 ' ClftsS B .Class B United Fuel. Inv! ■ of Prices . United Distillers" of' Canada Feb Feb ; >. ■ , Jan , 19,181 62 * 2507 . Jan 1.75 Jan l33/i Jan . A——7—* 100 ■ Sale* Week'* : Low fag- -: Jan 4% 7 : United Corporations; class Feb 7,7 199 Friday Sale Price Par Jan 18 ; Jan 100 1.213 14% . 777': Jan 280 17 4% Jan 1,555 3 ; Cassidy's Limited-.:!—'—1 Catelli 1 7 Jan 163 556 29 Yt Feb BTOCKS— High .*. ,/ ( 153A Jan ;: . 236 7 '* a. 7 .*; yi'A Canadian Western Lumber Co—_* Canadian Westinghouse Co 199 7/7 i-100 5 fo .:435 . 100 -• ' 12% 280;' 10 .17 Jan _ .....I 50.> 280 -A, Ai 25 ..125. — Canadian 'i Lowyj y , - Canadian , 77 L»st:'$#V7 Rangev.'7' Range-Since January 1 /Shares 44 .'46 • 49% : .51% Par 48%, ,,51% 23% 22 63% 122 —-..,41 100 1,920 , r 65% .7127 > 44 : 1,980 . '. r as -rrr-i'—• Trust- .100 205 Grace National —100 Guaranty Trust 100 7'/ 190 366 Fulton Irving Trust 10 — Lawyers Trust New (J P) 25 — Manufactures Trust Co National com—20 fc Co Inc City Bank York Trust—— 100 & Trust United States Trust 675 19% 48 20% \"-51 84% 66% 342 25 114% 348 50% 48 % National Title Guarantee 7 — 12% Publk! Nafl Bank & Trust—17% Sterling A|k 215 100 1 ,950 ft-8,000 Kings County Trust-. Morean ' , 46 Va" . 118% 48%, 92 12 .100 96 23 % 24% 785 815 i LAICNANIF&, CHRONICLE' THE COMMERCIAL OVE R-TH E-COU NTERt MARKETS Quotations for Friday, February 15 ;•■'• ": :■ ..-I. .<• • •• ,. 1 Shaskan OVER-THE-COUNTER SECURITIES x Firm Trading 1 - , •' • . • ' • . For Quotations on Real Estate Bonds Specialists $ ,t- Co. & Members, Nevo York Stock ExcJiQrtgei ^.^t Members New York Curb Markets Cxuhsngo Places New York 5r N. .Y, Tel: WWT "/.▼W Dlgby 4-4950 .'-'dCi ^ :!.''^ 120 Broadway. New York A 1(11 JKr! fl ytffc Phone: REctor 2-8700 imMfcMP-.MP Tele, NY 1-1287 & 1-1288 Established Direct Wires to CHICAGO — NY 1-953 Dealers Association* Members New York Security 1920 : v Bell Teletype PHILADELPHIA :l Reorganization Rails C (When, as and if Issued) Bonds— Bid 'V, . ' A«k •' ,!.$■ ■•(. Chic Indianapolis & Loliisvilie—' -^.—-—*—-19831' 2nd 4Vas v—_2Q03 ' Investing Companies American Foreign Investing .lOo Axe-Houghton Fund Inoi— Axe - '• 21.37 43.13 19.87 Houghton Fund B™—i-.—: -Series < 8%' 7% 4 1 ' 13.17 12.14' 1 ! 7 78 *5.72 '7.12' -5.23" /Assoc'ted Standard Oil shares™ . A,k 13-09 •*' ii 65 10.63 AmericanBuslnessShares——-1 Bl< >8orie8 H-ft.™.-:...-11-83 Series K-l——.. 22.20 40.11 ' • - Inv Tr of 107.22 America— Fund Broad Street Invest CoTnc——8 ■> Canadian Inv Fund Ltd Century Shares Tr"«t ...1 • -- 36.47 Christiana Securities com—100 3,070• 3,170 —™—100 ,146". Commonwealth Invest 1 Mass Investors 2d " Balanced shares - 25.64 1.98 Bond series 7.55 6.76 - ; —-.-™—. stock . , Chemical sharea^-^.———\ >.;Bank '• 7.30 10.51' 6.13 ■ ;9.67 Institutional bond shares— 10.72 Investing Lpw JPrioe ShAres.— 11.68 - 14.63 1 36 17.75 ' 31.24, 20.74 22.76 22 l--- '".'. •• 18,17 310 8ft 0.90% • 100.16 1950-1948 iol 1, 1955-1953 — * ioi „ , 47% : • 70 4 172 tDec 15. 1946. — 23% Bid- .% v lOftL i 1%% —' tMar 15 1947__ t%Y*% :tSept. 15, 1947. ISept. 15, 1947. tSept. 15. 1948. —1%% . '. 400.18 9% 10% 98 / 95% 104 ,/ 63%; Tpdemnity. ,Cor—f Preierred Accident 66% 103 99 !!"• —————10 !14%! — -10 / 10 8- ! 15% ? 42 Va ■ 45 Reinsurance Corp (NY)_. Republic "(Texas)! ~-*)i HI 42% 20%. 32% 25% ^,83; Seaboard Surety.. Glens Falls Fire———8 Globe to Republic. 11% ,'','8% Cp-4. 7/24%. Ill .21% ' • Globe .8 to Rutgers Fire coin 15 2nd preferred American—« , ;4 - ■ , 80 p. .. 59 ——,—10 • \ 56 39%, 37% 10 135 " 139 % SprlngMeld Fire & Marine,:—25 40% 43% Standard Accident..™,—..10 715 Travelers >.100 700 51 U 8 Fidelity to Guaranty Co—2 ^<v5ft;P; . < 37% V 132% 4 ■U S Fire U 8 Guarantee 33% 10 31% Fire—.—^——.*.10'' 128% Fire— ■■ 102 t Hanover., \ v 12% 44 98 35% Great (Paul) Security New Haven. 58% • Revere — S 60 .10 i90 63 . Wail .2 50 Bid Iv- a !iJ' < lltJj.: :J 39% ;*lt 1975 Westchester Fire— • 106% 407% h" VP" ". B,d . Ask Portland Gen Elec 3%s Bonds— Pow Arkansas & Lt 3ysS—1974 , Cent Vt Pub Serv Conn ; & Lt RR ill% & Pow 2%s Kans Okla & Gulf Ry 1974 - Southern 112% Texas ^.—1965 106 10.8% 109 Power 1975 2%s 108% Mountain States Power 3s—1975 Far Central Pow- to "Lt 4^ .——..100 ' : 110% Sioux City 105% Union Oil G & "E 3:90 % pfd.100 (Cal) $3.75——* 109 % 105% 106 105% 106% 104% 102: ? 105 102% 105% 406% 105% 105% 108% 108% 104% ' 108 Monongahela Power 4.40%—100 412!-Ruppert (Jacob) 4%%400 108% ■ 105% I Narragansett Elec 3s 1974! 109% Nat'l Dairy Products 2%s—1970 105 109 Preferred Stocks— 106% j_1975 .,106 1975 Light 2%s~l975; Union Pacific 27«s——1986 Western Lt Tel 3s._ .1975 103% 105% Minnesota Pow to Lt 3%s—1975. 107%; Elec Service 2%s Texas Power & 108%' 108 3%s_1980p 102% 3Vgs Sioux City Gas & 102% 102 3%S—1975 2%s.—1975 1975 El 2%s___1975 Pacific 2%s—™1986 Co Reading 109% 2 % s.w^.1975' 104 % 1953 (Indiana) Sery Public Serv (Okla) 104 V* 109 Pwr 3$ ser:4Liwl980 2s Lt Pub 109% 109 106 409 • 113:!/ 109 % 107 1074 bO.OO 0,80% ~ 3s^.Li.——-1947 ftS Conversion 102.8 .1961 -133% Panama Canal 3s 4s* " . - 100.2 "100.19 100.14101 -v 100.15 401.1 100.20 , r Maturity— • ^ • - - ? ^ - ; • '' v; * A.,.-'-: ;^v" 1 "v- , • <v Certificates of United Slates Treasury 134% ' 7 ::%s: April * • -1.09% July 1, 4946.— :A4%s Aug 1, 1946 " t'/eS Sept.l, 1946, i ' '/'Hs Oct. 1. 1946— ;v (• V-. J%s Nov. 1, 1946 i ; 4%s'Dec. 1, 1946_— 1, 1947 ^ ™^%s.,Feb. 1,1947-*— Rate* quoted ;.v! . are t</r Bid % :0615 _i.—. -.0715 >v .'0638"" r.0754 ,0701. ..0783 s .0603 ; February 28, ' Ask b0.375 0.28%/ .0619- i ■ ••!! 0.33'V :b0.375 0.33% b0.375 bO.375 0.33% ;C March' 21, 1946— •! March 28, 1946—: b0.375 4)0.375 0.35% bO.375 0.35% b0.375 0.34^ 0.35% bO.375 -May? 2/4946-—4! May' 9, 1946! May -16,: 1946--— Q.33% Bld;;stl«4k b0.375 0.34% /bO.375 0.35% 0.35% bO.375 0.35% <0693 .0743 ,0659 -.0765 ;07011 70824 .0727 ' .0970 .0804 , April 4. 1946—.—. April 11, 1946— April 18. 1946—-——. April 25. 1946—— ,0688 .0653 <0816 b0.375 1946 March 7, 1946—!•_ March- 14, 1946— Bills discount at purchase Bid e:: Ask. /.' ..February 21/1946 Dollar Price 100 Plus i%8 May 1. 1946— 4%s June 1. 1946™— V:-Jan. w 1, (1946—; - Treasury bllla— Indebtedness-- i%S Mirch 1,4946 c : > -;-4 . . 100.21 —1%% '40r.lC-101.17 iT':, v—• .12.50 19 V» 553A 25 V2 10 Marme..10 Fire & Gibraltar Page 936 Issues 101% -101'A Int. Bats —..I. —; ' 40 lA FirbAA——i-*.—i—; • General Reinsurance Corp new . IMar 15. .1946. 16 y» 27% ' 27%": Trranklih ■' - 14%* 26 -2.50 —1 St Paul Fire to Marine——.12% Firemen's Birmingham Electric 3s —1974 California ^Water 3%S—i-—1975 3.89 3.39 Quotations:For l).:S. Treasury Notes •• 54% 477- 10 ; Figures after decimal point represent one or more 32ds of a point ' — :■ 5 — — Providence-Washington 4 10 t Maturity— Fire—, Plioemx 71. 68 ' v, 109% •V 113% is.., ■ ol Newark*.—47 • Fire Assn of Phiia—,—— BTH i-1: .(*}'■•'i V • 32% 53 pacific ■ Fire— 37% 67 -59• 1o Fireman's Fd of San Fran York Pacific Fidelity to Deposit of Md-*.-20 3.28 2.94 15-, 1946^—-- April Ointr a 105.26 105.18 1%8 Jan. I, 1953-1951—-i-c-- :, 10 100.18 A ' - 37 Federal Home Loan Banks— : May 1, 1956-1946 ?s —. 8*- 215 - 30 % —10 Fire • 10.69 12.50 28 73 22.65 1*.> '' As* Federal Land Bank Bonds— ' V/ 35 • 35 % 10 'Federal■- 9.61 ~ f.or :.v. 7% 205 Northeastern Northern.; 64 />• ' Employees Group-^** Employers Reinsurance ..13.1ft Obligations Of Governmental Agencies j'ig./ 70% ' 45%" 'V'"p - .' 61% Monongahela Power 3s 2V4S Feb. 6% 31% 67% 30 North. River • 81 78 Continental .Casualty—**^.... _8 Cxum & Forster Inc *0 . Montana 1, 5% ( 29 3 4 Casualty- —2 Amsterdam New 25.*7. 24 23 lA . —.10 Connecticut.General Life...._10, 318^81 13^5 ; iy2s Oct ; 4 National Liberty-—-. National Union Fire New City of. New York— Laclede Gas Lt 3Vas 3s Casualty National Fire .50 - "* * 10 Fire National ' 78y4. ' 47 Fire—^.————.'.8 Camden. 16 07 Houston FOR NEW YORK CITY BANKS & TRUST COS.—See , : sy* (Detroit)—10 —!—!—_ Monarch 23% 'r> • Erie Bid 34 7 %" 4 .... < •. ij)V- New Hampshire Bankers & Shippers.—: Boston new • .-7.05 ' ,9.00 North Amer Trust shares— Series 1955——-—1, Series 1956—— -..—I U 8 El Lt b Pwf Shares A,— 30.35 . Merch to Mfrs Fire ,N Y— • - 38 21 % ...28 p 75y4 — . New Brunswick , : ' D .__—2.60 Independence Trust Shares—* B-3-——— 22% ; — 35 % —---jlO Diversified Trustee Shares— Series 21% 10 12.04 ' 17.78 28.52 ; 79 - 102% 32 23.96 37.45 23.97 99 -8 86% 0.78 . Keystone Custr^lan Funds— 12% 76% 11.4ft 26.28 20.97 19.45 , Bonding '83% 21.92 B 17.39 — VfiX nMi$& ,13% ... 1.22 34.45 —————— .26% 20% 19%'' 25.83 Investment Co of America—10 B-2—- 24% 43 % -A Fire Assur— Merchant 28 4.10 ;Investors Fund O*———) B-l Massachusetts .. common™—__._10 25.05 ySerits C— ———.j— union Common Stock Fund B— Union Preferred Stock Fund—— Wellington Fund——1 series Unit Type Trusts— Series -14%P; 13% 17 % ii2ya ———1 Casualty 13.22 250 21.64 1,16 19.75 1.05 1.24 .7 Maryland '?!' 41 . 7% A— Union* Bond Fund Vk'V-'• !!v'v4.:V;l4 -/'•"/ 36% 32% . 110 3,'/ "T6 10 Fire 7% Hartford Trusteed Industry ShSres 1.98 Series Stock and Bond Group shares. 20 10 Reserve American,'Surety... - • 34.70 , Ltd--- Bank Group shares.^.-——.' Insurance Group shares.—— 10 8 Re-Insurance ..... 1.93 - Insur Co ol North America 26 —2% American , — Homestead 96% 50 % • • . 32.27 30% 34 Fidelity & Casualty.B American of Newark , ——ipe 47% 58% -5 i0867 a to Odd Stock dividend. name, lot sales. > b Yield price. - d 7,0989 ;/.0993 Deferred delivery. • e Ex-interest, f Flat price, Exchange, r Canadian market; s Cash sale—not included in range for year, (Un) Unlisted issue, x Ex-divldend. y Ex-rights, z Formerly Athey Truss clranged. effective Sept* 17, 1945. .1126 .- :r/*KoT)ar va'lhe, " ^ k Removed t Ex-stock Wheel Co., .!'./••• !' tin default/ .IThese bonds, are subject to all -furnished by sponsor or issuer. r j " 1 A Quotations not Federal taxes. - 1 -i Atk Bid Par •■ — - Automobile — 4 Av B florae 24 American 1174 17 64 Oils ."A- P. 4 Casualty Equitable American 14.53 4, • > 81 10 American -:13.23 .;?:v .*:■/-a "'.'r 4 Hartford Steamboller Inspect.-10 lOt . . Incorporated investors———8 ,%;v'\YC Ask ■ 56% :..-.:as , Automobile ——. Series 64 • 93 .10 Life Alliance . . Bin Baltimore American..——2 % 10.96 —■ - 1 27"'!'! 6?//- 58 % 97 '• ,12.62 1163- Steel |0.05V .Ul>05-"' 12.54 V *v* ' • ;• -,a L 7.37. , Petroleuro* .ATTrading,,—18., " —V 4. .Petroleum shares—4,—, 7.12 2 83 Putnam aGeoi Fund——1,7.46 18.77 Railroad Bond shares,—--.— 3.93 4.83 Hepuhlic Invest,Fund——1 5.16 5.64 RR Equipment shares — 6.64 7.30 Scudder, Stevens 8; Clark Railroad stock' shares—: 7.30 ■' 8.03 : Fund, InC—-113.62 115.92 Steel shares-,..,. 1:', 6.77 7.45 Selected Amer Shares———2'A 15.26 16.64 Tobacco shares--^.. 5.20 5.73 Sovereign Investors,—^ 1 7.98 8.74 Utility, shares...*.—. 7,2^. 7.94 Standard Utilities ——10c 85c 1.04 : State Street Investment Corp—59.5ft ■ 62.50 Securities Preferred 10.26 19 09 — 12.83 Aviation Group shares. - Jersey Insurance ol N Y— Aetna Agricultural 13.87 10.59/ Merchandise sbS^S^i^^—t 11.42 r,? Mining shares, . 6.70 . Institutional 25/ / j& San Francisco St Louis •: •• Merchandising 16.65 Metals -*.-i—-u—9.88 -L———J—11.98 Railroad ——.8.74 Railroad equipment—-—— J1.49 10.62- 10.97 11.25- Common com— ™ll—. ! .. 89 10 American stocky,12.63 'Machinery 10.15 * 9.99 Foundation Fund Inc 76 i . l6.22 Diversified Speculative—— 17.13 Electrical equipment—12.15. insurance 7.40 49,24 „ Industrial Machinery shares— ^ 38 74■ . 10.68 Equipment—4——. -16.07 Business 11.86 • 6.73" . Fully Administered5 eharesw- 3 Income 87 —4— American * stock——; Chemical —————— Diversified Investment Fund— 9.56 12 49 ■ 13.85 $jl5.20- : Food shares - 84 36 com 103 //:V'.vp:.:pp/p;w:p^;.;Fal American Building snoplv——— 8.70 ' : -General bond shares,^—— 101 Aetng Casual to Surety 8.74 18.48 . . 11.37 10.80 shares-——. ;W Building sbarea--^——-w—•— * 86 102 5.9T 6.32 , . * 9.57 shares———— Automobile shares-!--—— - 84 100 8.98 7.60 11.07 , ,• v — Equlpment---w,^-»; 2018 11.52 — Electrical 82 Grande Rio Insurance '4'P 8.30 7.46 • 10.39 series—- , . ; 101. to Preferred Income 75-year 4%s—.4-—'— Security Series- „ ■ .100 1 Denver ■ .1993 Aetna " Aviation 51 106% 99 1st 50-year 4s_ 13.52 12.51 , * Agricultural ' I . -- Low priced bond series—: 8.17 29.37 Low priced stock common—j.6.8p 18.59 "r . ;Preferred stock aexles_4™—... 10.02 ..*•.* Selected series-wi 5-^9; 30.85 ■ Speculative:series ——-—*— - 5.69 ,2-81 stock, series ——4 * 7.89 9'74 1 New England; Fund*--—17.56 Fundamental;Investors Inc-.^—2 - 35.62 v39.04 J • Fundamental Trust shares A—3 ; 6.71. 7-6.7 New York Stocks Ino— » • ' ; Agriculture;—.——»—*»^ V l4.77 General Capital Corp^;—* 48.22 Automobile --—9.33 .General Investors Trust--,—6.43 6.76 ..Aviation ——— —■ 17.39 , yBalanced. Fund____________I 27.47 ,Stock Fund*,^—»T—J17,38. v-s"' "* * : " "• *, -/ • ; ' * Fidelity Fund Ine—*—.t—.L—f 28.61 "Financial Industrial Fund/ Inc. . 2.56 4 ■First Mutual .TruBt^Fund—. 8177.; v 53 • — . 5 % preferred 104% • —2019 \A..v 15.8717 03 :< Eaton & Howard—■ Group Securities— v- 4%s 17.86 16.61 : il seUes—., Income Industrial 5 Common , -a;——— National Investors Corp__; 7.48 1.80 Fujvd.--,—.1 Nation-Wide !Securltlesrn National „ /j ' _ Chicago Rock Island & Pacific- St Louis to San. Francisco-?-■' 8.54 . Mutual. Invest Fund InC-^-.-10 ; 17 66 : " 23.72 Dividend Shares—..^—^*250' ij 85% v' 1 « : . ' 153" 6.88 Delaware Fund-..—L™..—«—i.l . 83% *•'* 124,50 56.60 • 39.21 15 0? V^Chemical-Fund-;—1!-.13,94 .' "/••.Preferred 102% 23.28 r. 25.51-: (Manhattan Bdnd Fund tnc-^ ■' r • ■'' • -/ • Common --.lie • -9.50- ■ 10.44. 4.35 '5.0S Mass Investors Trust-—«™—i -31.08 33.42 ; ■ . 47.87 44.30 - Bullock Fond 35.o5 20-45 18.09 9 81 7.72 ——. Loomis Sayles Second income Denver & Rio Grande— Income 4>/2s 1st 3-4s Income— 33.59 - Fund—*122.01 Fund—.10 55.47 Loomis Sajies Mutual 27.(3 Conv '34.36. Series 8-1—.,^.—^,-.'—.-— 32.50 Series •' 6-2-*,—™--—™—18.60 Series S-3—■■ 16.45 Series 8^4—8.84 111.69 * 'Ino—-,a.™-w—28.23 Boston Fund 100 V2 • K-2—.-i—30.54 Knickerbocker Bond Chicago Rock Island to Pacific— 4st'4s——A2*.-^,.1994 <Cont.)— Keystone Custodian Funds ' ' , Ask Bid Far .Mutual Funds— Aeronautical Becuritle«_,»—1 Affiliated Fund Inc-i.^™..»l%, Stocks;—"- p 1st 4s THECO DRS E OF BA CLEARINGS »rjVa ■ 6f l5.4%.' We group according to the Federal Reserve Districts in which they are located and from this it appears that-in the New York District (including this city) the totals this center having recorded a gain Complete and exact details for the week covered by will show an increase com¬ pared with a year ago. Preliminary figures compiled by us, based upon telegraphic advices from the chief cities o£ the country, indicate that for the week ended Satur¬ day, Feb.' 16, clearings from all cities- of the United States from which it is possible to obtain weekly clear¬ able at time of going to press. 3.8% above those for the corresponding week last year. Our preliminary totais stand lat $10,- the last day of the week in all cases has to be estimated. ' In the elaborate detailed statement however, which trict Of able to give the final and complete results for the week previous—the week ended Feb. 9. For that week there was an increase gain of 13.5% and the Atlanta Reserve District of 7.9%. Chicago Reserve District has managed to; enlarge totals by 15.1%, the St. Louis Reserve District by 13.5% and the Minneapolis Reserve District by 31.9%. In the Kansas City Reserve District the totals show an Bank clearings this week will be ings week in 753,112,850, against $10,361,406,014 for the same At this center there is an increase ended Friday of 6.0%. Our for the of the week follows: CLEARINGS—RETURNS BY TELEGRAPH 1946 Week Ending Feb. 16— $4,627,480,049 450,116,329 453,345,281 Philadelphia' +-—-i.— 505,000,000 503,000,000 + Boston 313,475,430 292,930,602 + 154,073,126 +10.7 -• . — City Kansas 170,480,642 __— Cleveland + Ten cities, five days—_ 191,280,753 1st Boston 180,836,056 —12.7 125,966,861 + + 411. cities, t-" '. > 1,557,392,410 + -___12 New Philadelphia. .: ? - ■' ■ its " 17 " " 4 * 9th Minneapolis 10th Kansas expansion Of 17.8%, the Dallas Reserve District of 27.1% and the San Francisco Reserve District of 18.2%. *• , • v York the New 3.8 Outside N. transactions Stock Exchange is appended. The omitted) $10,361,406,014 9 ■ 17,811,394 18,032,142 $326,657,900 398 379 324 293 bonds' 338 339 272 187 Total bonds 9,404,000 11,675,500 101 + 15.1 8,462,449,204 6,994,885,345 4,470,538,087 { + 14.7 3,820,738,'327 3,467,034,480 38,995,195 'January— I. V > "r FOR 8 • 123 84 165 173 141 124 124 104 426 379 328 297 253 217 184 160 _ , 1,809 1,870 1,649 2,944 2,759 Louisl- 878 811 1,066 1,123 1,087 Fran- 1,478 CincinnatL 145 101 81 202 ;: 166 145 108. 81 74 66 72 76 63 72 66 55 49 48,102 41,280 34,022 4,079 4,818 5,571 31,131 3,526 25,944 24,085 2,386 12,574 46,098 38,101 19,699 34,657 17,720 29,012 14,327 26,659 25,675 gain ojL1.5%, the St, the Minneapolis Re¬ serve District! of 27.3%. In the Kansas, City Reserve District the increase is 10.6%, in the Dallas Reserve Dis¬ trict 13.3% and in the* San Francisco Reserve District 12,592 11,059 6.6%. 1,207 " 4,643,659,014 1,561,206,449 " " " 1,248,080,514 1,945,425,752 1,523,705,005 " 2,656,090,143 60,322,470,197 53,673,592,064 26,712,463,219 24,730,440,007' f , Louis — *_■ —— | ^ ___19 Francisco Total- 918 1,036, 440 389. 859 712 561 v 504 431 388 . +665 596 409 343 276 304 898 570 498 269 614 732 410 467 following compilation covers the clearings by The 933 720 549 456 374 621 480 425 314 293 256 447 434 365 331 269 209 189 172 1;219 1,532 1,684 1,381 952 682 507 .420 now V add < 819 . .(P. . . ... ures If* $'4 ' for each city for the month of January and the - Mass.—Eostoh , + + 1.5' 8.0 +27.3 +10.6 +13.3 6.6 r j ; 2,606,819,223 2,402,831,350 1.076,583,866 1,459,677,597 3,757,881,944 1,124,685,566 737,772,679 1,347,677,696 920.928,280 2,241,461,686 1,932(796,857 +12.4 . ; 46,098,907,434 36,101,645,510 8.0 22,805,561,168 19,699,079,300 + 1,649,726,660 2.246,337 $ Z: t ' _ Eprlngheid • 2,991,846 1.459.206 959,042 I + 52.2 15,781,755 16,199,171 3,377,469 3,028,241 \ 1,605,111,673 1.435.357.799 399,694,891 320,329,625 4,452,095 3,728,451 1,312,022 941,320 • : +29.6 2,291,112 , * 2,310,912 + 27.3 2,360,230 2,011,041 540,106 389,603 6,653,554 5.1 5,234.215 4,3oO,386 1,291,504 *1,212,676 20.9 21,403,297 18,938,222 5,607,314 4,512,268 12,218,834 12,844,476 4,075,777 2^07,073 Oonn.—Hartford'; 76,353,946 63,443,724 New Havfen 28,034,370 27,653,711 + 7,539,300? 7,482,000 72,663,115 37,931,403 +27.5 7,6^0,200 . +19.9 29,747,597 87,097,774 t.—_ + 14,592,475 +36.0 ; ' ' 651,706 3.641,599 3,099,614. 325,611,976 299,689,930 1,110,337 905,008 >405,619 1,208,246 : 932,743 + 38.6 ; 20,712,129 1943 472,305 / %+24.8 S l .. Vec.% + 8.0 / .*)) ■: 884,496 ' + 39.4 j* ; 19,703,235. »Inc. or |:+, y:.. 2,337,469 . %■■■"" t * * ' 24,730,440,007 • +11.5 * 3.7 1945 t ' ■; ; 3,722,831 + ■ -Clearings Outside Mew York Dec. % $ ; 25,051,770 / 1946 -. week ended Feb. 0 for four years: -^Wepk Ended Feb. 9'1944 Inc.or 1945 2,042,613 Bedford * $ ' * 26,712,463,219 6,315,954 Low^Jl — i $ t * + 25.2 4,931,978 — Jf - Dec. % +12.4 + 13.4 15,701,867 . ■ Fall River 16,286,015 1,870,456.219 '' %■ ': + 31.9 4,540,822 2,912,354 ' Portland----— 5,988,206 ■ 1946 .1943 1944 Dec, % $ 6,173,068 ' Me,—Bangor Inc. or 1945 m $ , . , 53,673,592,064 ' ,,1946 ' First Federal Reserve District—Boston— , New +12.5 + 7.1 % Inc. or 1945 I 60,322,470,197 January™. 6ur detailed statement showing the fig Clearings at— ■ • V 19,070,129,011 months since Jan. 1,1946 and 1945: Total Ail -Clearings, 1946 Months— -Month of January ■ - 24,071,428,326: 2,881,729,247 2,754,793,159 1,209,909,501 v1,732,049,950 4,399,981,260 1,307,608,500 937,540,388 1,620,111,529; 1,077,239,077 % MONTHLY CLEARINGS 383 851 977 657 We ' • City__-.-i_u 240 957 : > •; • 492 700 Y. N. Outside 354 .183 cities — WtZZZiZk|' 1,579 571 1,020 " 7 2,920,537<310 1,528,560,749 2,206,532,413 IT-+«:•/ 8 " —;.-16 M Minneapolis 3,407,121,461 1,663,861,441 14,616 1,816 961 i: 31 ; . 1,865,054,811% i +14.4 + 15.8' +11.2 + 0.8 ' • + 6.5 . 4,168,902 +24.3j 20,116,929 15,843,902 8,181.827 5,617,803 ; : • 2,597,732 13,562,621 .10,541,640 4,481,361 <393,856 1$; 721,§00 14,405,400 547.249, t 469,941 +27.0, >45.6% { 4,035,495 :v 2,965,069 +45.2 ' . ]« ; w. • Zl Waterbury R. 10,496,900 ——_. % y+ 101,514,900 V- .R—^-Providence N. y..; 4,328,446 3,431,072 2,197,198.857 ,1,920,225,418 H.—Manchester ; |f Total (14 cities) 85.246,700 + 19.1 77,396,000- 63,938,800 , 15,951,400 20,936,300 :■ 24.3 3,155,144 2,634,345 1,865,054,811 1,663,861,441 467,687 960 —20.3 53,527,601 32,832,923 10.318,58^ 33.1 8,552,052 6,942,905 291,147,995 619,713 1,094,615 + 14.4 + 372,212,666 % > , % +31.-9-| ' t76.6'. +25.6 » | 342,673,669 374,833,976 ; second Federal Reserve District—New York— ' H. rY.—Albany 7i.S80.514 57,039,976 , , " wBIngh&mton 11,123,432 Buffalo . 8,355,986 + 1.6 288,671,751 — 4,916,097 +. 12 5.842,938 5,782,110 + 1.1 + 16.1. 284,034,502 ; Elmira 5,025,501 Jamestown •i; 33,610,006,978 28,943,152,057 Rochester 69,157,490 61,262,275 Syracuse 40,721,453 Ne# York '. + 81.7 1,383,198 , 1,113.114 1 1. - ^^7^63,602 -^^9.154.360' 4, '^^Ipo.ooo •- 239,700,000 56,038,534 5.7 66,609,488 4,987,208 1,071.314 988 393 +- 8.4 1,139,861 699,442 4,870,640- 4,610,495 1,110,043 915,483 + 21.3 ...-V 825,938 "806,914 18,402,566,210 7, 165,812,138 6,208,244,515 +15.4 4,641,710,877 3,527,850,865 48,523,498 16.406,776 13,769,654 + 19.2 10,969,883 388,744 25,652,602 8.736,701 10,610,875 —17.7 5,238,895 4,745,03* 7,195,272 6,100,372 23,293.346,266: +12.9 54,364,557 + 27.8 29,739,742 ; 53,011,703 . + : "-- ' 5,091,187 8,131,547 6,859,171 + 18.6 5,403,385 44,775,571 38,618,819 +15.9 29,932,204 ^ 2,818,716 2,020,549 + 39.5 1,841,939 1,651,748 655,393 392,369 + 67.0 296,170 275,865 125,309,951 + 12.8 -,115,556,340 113,819,995 32,183,000 26,382,869 + 22.0 21,584,284 17,332,396 141,280,412 185,085,931 7.4 172,546,205 154,675,303 45,821,522 38,823,874 + 18.0 36,303,357 25,544,422 198,740,433 -5,653,581 4,413,615 + 28.1 4,632,329 34.484,352.530 29,777.894.606 +-15.8 24.071.428.326 7,349,067,831 6,368,063,721 + 15.4 4,798,507,833 3,644,702,017 ' J.—Montclair 24,984,643 J 8,349,056 .. 7,861,513 Northern N. J. Oranges ■ (M cities). + 6.2 ..... ' " Newark Total 5(520,694 + 85.4 5,967,071 ~. * 1 31,865,7801 , 5,679,275 2.564.767^ .; Utlca Conn.—Stamford N. ; $ Dec. % . ——16 —-14 ___.11 —16 1943 1944 Inc. or 1945 $ 2,197,198,857 34,484,352,530 '" " —14 Chicago 12th San 875 % 23,243; 2,013 1,920,225,418 29,777,894,606 3,063,609,176 2,897,164,901 1,358,575,283 2,059,543,518 4,576,399,123 1,445,350,583 980,355,044 1,758,337,251 1,345,154,060 2,490,983,101 ~ _ St. 11th Dallas 1,004 • Cleveland- Louis Reserve District of 8.0% and ' • 1,042 Kansas City •"Reserve District has to its credit a 1946 . Cleveland 8th 14,067 -1,451 1,128 650 + 719 0.8%, in the Richmond Reserve District by 12.5% and in the Atlanta Reserve District by ?.1%. The Chicago 181 285 i._—.™- Atlanta District of 11.2%. In totals are larger by 179 Richmond 6th the Boston Reserve District of 14,4% and in the Philadelphia! Reserve the Cleveland Reserve District the 117 ______——_____14 cities 4th expan¬ 340 Philadelphia 5th 1939 2,039 551 ' 576 v 1,184 1,341 765 / _ sion of 15,8%, in * In the an 128 Distritjtii New York totals show New York Reserve District the 387 26,712 24,730 22,805 Boston clearing houses of 12.4%, aggregate of clearings having, beCn $60,322,- 211 all- 60,322 53,673 7th 1940 1,38S 2,504 i 642 758 Pittsburgh- 6,190 of the clearings for For that month there was an 240 • 87 — 10th Kansas City 1941 2,517' 1,605 < 1,435 3,261 96,772,642 362,259,109 142 389 153 1946 ,r 393 269 _ City 9th 16,937 ^ 14,685 1,854% 1,539 18,402 Philadelphia Detroit 102 130 195 172 204 129 1st CITIES IN JANUARY 1942'- Boston Orleans 120 216 250 3d. % $ York- 33,610 28,943 23,293 2,068 2,350 2,622 Chicago •__ + > 470,197 and the 1945; aggregate $53,673,592,064. 89 126 the 132 % 2d 18,032,142 17,811,394 $ New N. 99 158 Month of January—, YEARS 1943 1944 1S45 1946 Minneapolis 104 175 144 Yederal Reserve -Month of January $ Baltimore 122 226 272 No. Shares. No. Shares No. Shares BANIC CLEARINGS AT LEADING Ban 142 239 214 _ Out. N.Y.C. clearings at leading cities of the country for the month of January in each of the last ipight years is shown in the subjoined statement: Bt. 168 161 1943 1944 1945 No. Shares 51,510,197 , 46 291 ^January. increase for the entire body of 131 54 the month of 152 133 - 58 70 63 77 143 334 Total The course of bank (000,000 85 164 205 , •244- Paul—., Tot. 27 cities 54,132 months of 1943 : following: 1946 ' / omitted) $ share properties on the New York Stock Exchange for the 12 •Month of 1939 $ 1 Other cities to 1946 is indicated in the , 315,444,064 438,507,743 248,264,255 134,890,653 238,076333 10,678,782,602 168 Hartford $302,816,600 $337,114,250 , 227,235,876 - + 18.2 144,277,347 482,925,467 '288 Seattle 250,700 • - 1,052,350 788,400 $186,923,300 $341,960,100 i_ : 162,997,001 27.1 199 Salt L. The volume of transactions in .439,812,870 , 262,246,290 114,400,969 390,177,307 + - 284 ___ Richmond .. 1,059,500 — 263,423,874 +31.9 " , 17.9- 1940 272 374 Memphis .. + 13.5 ,4 196,439,116 1941 - $ $ St. $290,890,400 8,806,300 • - +15.1 + 627,753,743 280,380,452 $ 1942 1943 1944 $ Providence. , 10,121,400 7.9 -506,248,114 454,166,323 12,291,875,572 ' bonds / 1945 $ Ind'polis Foreign govern't 342,673,669 3,644,702,017 265,724,225 400,087,055 468,376,005 We also furnish today a summary 1946 Denver JJ. S. government -: 507,508,346 0.5 — 419,619,922 Milwaukee- Railroad & misc. $175,742,400 $332,365,400 \ , ' .+15.0 . 282,594,770 Buffalo c■"/ - Bonds■ 4bonds +15.4 Y 570,730,408 City Louisville- 1943 1944 38,995,195 51,510,197 shares 374,833,976 4,798,507,833 , 1943 ',-V $ + 110 cities —.___ Y. '. ;" 'M :;-;/:l944; +25.6 6,368,063,721 643,608,304 585,971,494 183,349,164 Omaha 1946 are given below: 1945 1946 : or 274,935,600 u 10 ;; . $ -Month of January- Description— Stock, number of Inc. - 372,212.666 (000,000 on - - Dec. % 323,974,962 6" Total 5.4 + results for January in 1943 to 1945 -VV-V-' .5,126,063,434 City___—___ 11th Dallas' monthly detailed statement of Our usual ' % i 318,379,350 259.104,423 ■' " " -7 __ $ CLEARINGS OF BANK 583,210,077 320,756,495 452,746,840 722,760,103 " 6 ^ 10 — 1,895,202,876 $10,753,112,850 a 5.8 1,792,185,475 Total all cities for week " . 7th Chicago 8th St. Louis___, -H* \ '<•• " 10 ; 6th Atlanta 13.5 + 1,767,039,450 day one -a . a .467,687,960 7,349,067,831 740,107,959 „12 cities + 5th Richmond 4.1 $8,466,203,138 ' - . .— and*in the Philadelphia Reserve Dis¬ The Cleveland Reserve District suffers loss of 0.5 % but the "Richmond Reserve District enjoys 15.0%.* The 1946 ' 4th Cleveland 14.1 $6,908,810,728 ' improvement of 15.4%, in the Boston Reserve by Federal Reserve Districts: a summary /' an District of 25.6% are furnish we 12th San: Francisco_A . show 14.7%, the bank clearings at of Week Ended Feb. 9 2d —13.5 $8,960,927,375 Tot. all cities, five days we Federal Reserve Districts 0.7 143,699,837 days— ' cities, five Other > 1.5 + $7,193,887,925 "■ Baltimore following 3d 141,900,000 237,998,000 157,920,851 — not avail¬ are Accordingly, in the above SUMMARY 7.0 165,511,632 Pittsburgh, increase an In the 0.4 144,000,000 -/■ Francisco much as the week -v 239,682,000 Bt. Louis— Bah *» was 0.7 — -.?.(• ^:•> as 15.1%, the aggregate of clearings for the whole coun¬ 6.0 + $4,904,001,204 New York Chicago— present further below there Cent ; today, in Saturday figures try having amounted to $12,291,875,572, against $10,678,782,602 in the same week in 1945. Outside of this city Per ; 1945 ',V We cannot furnish them the cities in ouf issue of next week/ appear ends Saturday and the we week comparative summary for 1945. the foregoing will + v(; • 4,090,292 19.070.129.011 ■' l: : Volume ; 1945. 1946 Clearings at— + 37.0 4,005,132 1—13.6 ' 16,568,75? X-a. ——- Lebanon- - Korristown - , /Philadelphia' Beading «. /"/ ' • Z" Scranion Wilkes-Barre Du —w — Fourth Federal Cincinnati - :i: , Hamilton Lorain Mansfield Newark • Toledo 14,779,-439• Fifth federal Reserve Richmond C.—Charleston Columbia Md.—Baltimore >».—Atlanta Tampa . —— Wayne — Bend — Haute + 48.3 192,895,207 196,480,872 583,210,077 585,971,494 0.5 454,166,323 439,812,870 10,961+98 12,981,801 17,545,863 a 7,283,756 2,402+31,350 297,227,173 10,267+20 13,337,627 82,397,600 6,766,000 76,203,039 2+10,275 2,502,988 + 12.3 2,420,613 1,945,055 570,649,54^ 172,55*6,480 150+54,479 137+6^468 120,258,829 53+94,167 50,695,016 42,184,217 34,480,302 320,756,495 282,594,770 265,724,225 227,235,876 9,599,536 - 173,124,160 ^ 2,147,590 153,183,173 2+22+57 . ' : 4,363,141 . 1,203,909,501 : 1+76,583,868 / 208,124,077 16,183,939 238,759,152 20+26,560 + 22.9 // 0+ + ; W12.9 "■ 4.0 + , ; 176,923,430 11+58,429 , • • 365,596,523 7.1 1,732,049,950 *140.3 26,580,403 4,780,388 :-I 16,056,380 +17.7 52,016,797 47,147,199 2,050,162 39,374,276 '/ I 60,103,700 51+77*385 35+9*5*923 ; 5,149,110 4,914,786 5,505,353 / ' 5,196,268 304,346 95,236,896 78,731,612 400,087,055 315,444,064 • 260,362 + 36.3 >v: 86,979,738 + 10.6 452,746,840 419,619,922 + 7.9 913,587 702,936 354,790 ' 96,175,286 ' . 4,489,350 14,767,081 + 10.3 + 19.8 24,688,558 ;; + 15,499,008 47,932,513 + 2,979,994 Bloomingtoa—. / 35,012*197 142,442,137. ' *2,438,760 2,892,447 65,286,834 • + 39.8 + 11.6 - 725,915 960,097 1,200.654 1,006,745 4,643,659,014 4,576,399,123 +22.9 27,083+07 25+31,916 —10.5 + 38.1 Lout# /■ .i.X:,...,.,—*—***>***.";/'/-J» Si Cane Girardeau; 9,742,006 >T 883,524 571,214 493,592,159 7 4.4Q i+4i.l(. s1 1,733,789 2,507,732 /few 367,476,607 ■1,229,371 / : 4,497,838 1,599,367 1,522,201 ' Independence / ty .—Louisville rern.^—Memphis ————- +399,981,260 3,757,881,944 722,760,103 627,753,743 + 15.1 468,376,005 438,507,743 642,913,423 176,200,000 156,300,000 + 12.7 158,300+00 134,400+00 85,633,380 30,598,935 + 6.2 59,291,576 72+61,780 55,301,383 42,459,274 + 30.2 44,980,298 40,407,475 .//17244,58? y? I,*022+43 ♦ S,843,700 /// 4,563,091 + 27.1 878,588 '-840,761 398,589,747 ,1 379,442,629 + 293,104,666 + 5.0 11.9 324+55,231 240,525,913 211,732,146 179,408,101 + 35.4 .+ I8.S / 1,127,207 • T" 946,532 n».—Jacksonvllie ijuvney 758,664,319 269,135,691 >/ / ————— ——• 886,807 :< 699,190 .4,423,983 ... - 5,248,384 — 1,445,350,583 i 1,561,206,449 Total (7 cities). / / - 374,443 346,651,967 1,106,723 3,954+62 1,674,226 " 1,476+93 ■791,488 8.2 + 1,503,596 11,654,705 5,498+77 897,085 T, — 7+36,367 7,824,256 : 436+75 6,673,434 2,102,330 2,087,549 7,790,885 3,172,118 8,339,863. j'/--. 8,254,520 +.T.S 811,535,694 878.334,632., —— ' 12,408,722 0,200,802 Federal Reserve District—SL *fteatb tla-—St. : 1+15,912 +17.0 7,606,346 563,781,862 2,154,300 6,207,135 V 7,856,022 25,702,931 24.6 , 7,121,710 2,861,521 16,904,777 21,641,929 2.2 + 8,807,262 7,248,448 2,561,063 19,784,698 10,508,568 1,919,687 1,809,538,001 ^ 10,249,767 4,302,785 9.1 — v ' -+16.4. + 19.3 2,913,938 +14+ 3,480,397 2,671,949 + +20.9 20,687+00 853.791 3,307,848 2,429,920 2,068,462,598 : 2,200,459 2,283,410 23,691,000 , 2,157,562 32,443,659 +15.5 32,784,396 10,124,513 vJ - +51.9 + 10.8 2,499+94 ' 53,267,135 25,779,197 : .3,712,069 / 4,079,893 +30.1 ' Total (31 cities). 42+89*948 - 7,515,612 2,350,639,150 : > 8,750,645 12,641,215 i •Sterling*—;;..— 11,529,377 10,195,311 950,923 3,596,160 2,627,142 33,506,760 Serine field 10,483,689 •-C 2,414,793 8,649,161 +11.4 / 10,580,207 - —. ; 4,547,45? 828,663 2,687,046 — 32,850,695 ; 2,622,871.906 Peoria 37+1+000 3,967,408 + 25.1 71,448,698 3,985,724 3,672,828 ; Chicagd Decatur/ ~+n+ 10,582,975 , —- \ 3,180,217 29,907+00 9,820,246 168,226,242 20.9' 12 + 38.1 + 30.6 2,544,108 . 11,788,512 92,986,215. 37,947,727 1,444,725; ———. 3^557*244 21,967,665 124,523,257 14,040,301 4,152,420 *'-*/: 37,937,015 + 818,092 2,424,509 City; —16.5 4.7 "1,068,602 Moines ■' 446,569 /+'- or/ + 24.0 4,382,065 35,578,023 tl; + 18.3 ■: - 4,736,158 6,542,793 * 129,282,689 16,760,536 8.0 — 5,424,435 3,660*824 6,030,543 X: 3,712,799 12,792,638 14,437,429 11.5 + 144,402,837 6^728^634 4,089,346 • 613,245 + 30,9. 14,419,496 4,654,798 — 25,684,438 3,015,682 / .... Rockforrd + 17.7 6.1 '+V17.2 8,431,833 207,658' XiUl, 20,565,344 : , /' —a 7,802,821 ' 24,187,186 5,163,878 18,354,772 7,806,038 + 17.5 110,800,000 2,139,896 .2,503,721 1,381,027,787. 7^36,050 - • 2,445,403 63+55,456 / 1,459,677,597 v " + 27.6 ' + 6+78,831 34,460,353 10,724,916 ^^■,j 331.615,258 2,615,217 1,684,575,154 199,565,678& 142,200,000 vV 018,516 ; . 3,460,000 1,307,608,500 A v 395,524 5,016,000 8.0- + . 1,124,685,566 - 318,379,350 - + + 280,380,452' 217;13.5 ! *852+00 "*5*95*000 263,423+74 248,264,255 - Y Vinth Federal Reserve District—Minneapolis—. neapoffs^ . IfJnn.—Duluth. , 875,697+82 '' *16,757,741 20,484,377 - Minneapolis Rochester ■ T! 17,524,393 +22.2 Z +-33.2 ? ? 657,520,206 ; 2,471,924 /: / +36.7 " + 14.3 ?••'■•••/ 214,006,234/?; . i;,,V Bt. Paul / W - Winona Fergus 3,379,525 244,657,735 X';: — . * ' •' Falls ■ ■ D—Aberdeen Pioux Falls ; Helena ? : / Z -s r' z +18.9 . ' + 12.7 17,070,775 2,916,000 / v ' 2,578,562 • 2,661,000 10.9 /+/./; "2,597,816 6,347,239 V 12,410,374 /- ■■■ 13,378+39 : + 28.3 14,742,855 /"r- — _i_. 2,865,482 2,370,244 1*51*8,409 1,273,431/ 1+85,951 893,696 : 1,432,000 9.2 . + 26.1 1,768+52 ; 1,396,629 ■'i 4,723,641 . 1,642+00 A'- (16 cities) ? +19.2 1,242,771 . 776,463 .r + 32.6 ' 7,482,404- 5,358,065 2+25*837 ?V J 4,056,461 30.6 7,027,868 5,562,044 + - + 541,302 10.8 + 24,570,111 43.4 22,448,937 • 464,167 5,9*76*515 %? 20,615+43 , / 1,248,030,514// ■ .a. 980,355+44 + i r i- '/I 27.3 ? • 937,540,388 346+85 4,6*9*6*529 599.0 1,129,576 787+79 ~+27*5 3,*73*7*575 3,976,529 + 370,593 ' Total . 13,200,654 * Lewistown 3.481,788 90,935+00 ' .'"/+ , . 6,790,634 9+01,585 9,771,633 27,233,378 Falls 3+6*1+79 500,358 14,971,357 '. + -9.4 + 7,790.277 41.767,445 32,6*48^28 ; 1,850,574 , • 51,807,12? 172.146,951 2,536,028 V 521,702 ' • 43+3*7*819 190,136,463 1,683,459 210,063,389 0.6 + . 3,538,933 141,334,105 4,178,493'?: 480,513,787 v ' 16+93,258 2,229+84 Huron Uont.—Billings Great / 2+59,365 9,992,093 Mi not. —* 1 2,764,266 582+81 ; 3,189.000 ' 2,532,792 3,279+7? 3,452,201 107,388,397 16,066,540 . 621,465,596 - - 2,781,631 692,946 19,238,579 D..—Fargo Grand, Forks . '-Vtf -■ ■ v' / 11,909,000 ' . ,+ 31 +31.1 — 42,842,253 5.8 2,393,871 3,202,636 1+87+75 —2Q.4 —— 3.6 • 1,988,294 ■ 21,385,554? 6,935,250 '' 7,867,804 : ».l + + v 152,400,000 2,457,018 yv-• 172+87,512 10,784,067 x; — 42,745,449 : 2,267,939 62,015,459 8,519,193 1,523,164 5.3 + A + 13.5 3,136,107 , 2+83+79 + 30.6 53?- 6,213,000 63,447,247 8,898,215 13,704,495 + 21.8 + 15.4 15,519,454 44,280,768 161,200+00 9,464,732 /* 8,451,105 12,493,000 891,443 ' 14,264,767 41,995,946 7,820,106 —23.1: : ' V.887+88 + 12.0 12.5 10,972,248 & 168,709,417 —— QL—Aurora - 9,1 944,281 961,759,352 + 36.2 +35.7 + 14,132+00 /;/13,260,095/? la.—Cedar Rapids. •r- •- 244,212,133 1,384,918 , 9,178,199 47,413,431::;/ Manitowoc j 221,974,715 32,923,697 ' 598,800,000 10,160,695 -16,732,194 /, water ; 1,887,423 2,987,731 1,448,888 9.0 . . <m*i> ****** Milwaukee r ' 3,003,899 6,269+00 71,424,399 : 6.4 + z 2,860,441 1,532,117,321 18,895,821/ 7,915,677 i 5,263,673 ■ 16,282,417 -!:■■■• 30,782,261 161,071,703 — r immtu Ames 2,542,604 3,229,599 2,143,937 4,558,076 7+24,000 + 10+. 2,059,543,518 = -—-— Sheboygan t ; , 4,014,132 5,618,026 City 8louX: : , !£*:* ,31,283,289 Indianapolis + 3,127,680 S,917,716 1,973,973 2* + 1,411,199 434,269,509 vv- — Terre Des 8,411+42 14+99,853 650,505,381 +12.3 : 21,524,905 3,345+81 *1,219,322,000 10,310,788 f Oshkosh ) 11,450,600 25,408,000 5.4 : 2,206,532,413 Arbor South ' -< 13,265,000 Federal Reserve STis.—Madison f 31.8 27,059,000 328,309,537 ■' + 1,486,503 447,517+61 (16 Cities) Ind.—Ft. ' + 13,908,720 0.9 + +11.6 265,447,975 23,800,726 9+83+62 // 10,588,729 14,702,000 t Orleans Lansing ' 15,808,900 1,109,429 5,381,110 + 37.3 + 4,369,318 Muskegon v-r 20,831,800 3,452,912 2,754,793,159 250,727,626 19+15,365 ' 20,728,946 Grand Rapids ' 0+ 10+71,319 9,752,356 :/19,133,944//"'' 289.966,877 1 Jackson ■ 141,551,620 - 22+38,074 10,571,429 12,498,496 26,217,699 deventh +■ "• 6.6 + 726+00+00: . / 308,044,594 Detroit Oary 82,887,333 153,263,908 139,411,300 « 141 ch —Ann Bay 3,213,773 86,380,601 5.0 503,100,000 Vicksburg f 1.9 + 48,365,773 - Flint + 192,575,922 4,078,552 . 169,179,283 Jackson > + 124,121,527 14,534,943 28.7. 2,567,291 3,480,809 126,506,619 202,132,635 12,728,282 +10.8 7,497,600 / Montgomery — Iliss.—HatSiesburg Total -v' ; + 189,877,446 •11,800,000 - La.—New 17.2 : 431,319,539 •819,822,811 —16+ -——. Meridian 3,306,100 506,246,114 + 60,184.200 ; 38+75,534 1,481,808 1,252,697 1,087,779,720 13,587,536 + 1,358,575,283 765,000,000 41a.—Birmingham Mobile 5,200,800 69.397,265 — 1,479,470 507,508,346 187,765,834 — 1,357,430 :/ 1.8 15.0 57+53,164 Fla.—Jacksonville / + 131.7 207,998,368 —— Macon 1,810,142 + 7,295,024 . / • . 13,626,810 Augusta Columbus 26.3 + 719,513,656 2,033,743 237,680,198 ^ ■ 3+57,206 1,441,496 '.:'-•'8,878,945 14,599.444 5.1 — 18,219,764 3,015,370 renn,—Knoxville Nashville 1,843,43Q /; 1,044,332 2,095,259 1,099,503 3,461,100 78,166,500 !•: i+: ■ ,+ 11,762,036 1,528,560,749 Total (8 cities). + 51.8 494,000,000 919,429 2,083,178 1,304,657 643,608,304 v ■ • + 38.9 379,911,448 6 765,866,818 —. ——, 1,295,985 7.9 " 21,665,305 Cfc^-Washingtoa D 31.9 - Z+25.3''?/: 6,242.190 • Frederick 45.4 + ; 10.4 + 31,015,000 — — 1,966,679 493,000,000 // ,/ + 34.7 ' 8,568,075 ----- + 8,020,000 ; 933,988,394 District—Richmond— 33,144,000 426,534,856 12,086,127 t? V*,—Kutttingtotr ■ 9.9 + 2,897,164,901 2,920,537,310 /a.—Norfolk . - 25,248,887 TetaVvtlt«ilfes£ 3,170,300 740,107,959 :■ 498,953,128 1 +16.0 * — + 14.3 % 1,423,528 2)606,819,223 17+91,281 ' : : —25.8 15,719,073 +- Cy.—Lexington•: i + 831,052 1,123,666,288 U 11,930,340 17,406,097 23,695,759 11,479,503 15,069,178 W. V*.—Wheeling ; >;/ 2.8 , . . 1,066,763,878 ———. — Oil City ; ? 4.5 + 1,590,563 Grecnsburg Pittsburgh 628,000,000 1,917,037 3,422,371 •: 19,969,971 2,881,729,247 + 1,844,651 —— 1,416" 483, .397+67' 17,241,100 / 25,673,800 11.2'3.- 616,614 Co. '■ Pa.—Beaver 1,*485)247 995,369 ' 2,670,563 22,592,315 • 8.3 + 11.1 ' , . 12,107,406 44,124,276 ———— "+42+ 718,000,000 8,853,277 723,556 '! 794,408 3,116,333 + 24.3 r; + 1+15*465 — , 19,579,598 -—— ' + 47.8 + 644,884 5,545,481 8,671,388 34.0 j ' * ::' 18,222,668 551,577,962 977,509,393 . 76,359,900 3,507,293 : 1,613,118 10,022,060 : 15,621,749 8,716,226 ., 43,414,930 13,215,005 —- - Youngstown f 20.7 + 991,249 2+93*255 10,904,454 6,221,879 + -768,042 3,679,916 . i ' , 1,004,942,428 83,903,800 3,873,580 2,345,265 Cleveland Columbus 7,159,501 11,863,891'. s 411,531 521,472 1,239,469 813,560 2,223,373 2,504,000,000 5,743,777 - 3.063,609,176 20,239,481 576,164,751- . ——. ■; 2,759.000,000" ! + 33.7 • 24,411,288 V 18,887,400 ' Wstrlet-—Cleveland—• Reserve +10.8 ' 8,199,869 " s' 3,407,121,461 —. 2,690,838 + 29.5 5,439,704 Total H6 cities), + 30.8 +15.2 ; . 30,343,255 20,448,000 ——— jhio—CanKm /- 1943 2,194,204 2,361,820' 6,450,980 1,029,018, - Hazleton Del.—Whmtngton 1944 •. 5.4 12,149,468 6,390,242 + 39.2 . . 0,898,895 •• 13,107,815 6,929,748 40.2 + 13,619,350 15,692,160. 8,351,488 «. J.—Trenton—' Erie ■ . —* Bdls ; , ..V'W' + 31.4 578,755 814,648 769,828 > 2,142,550 + 28.6 7,470,778 2+13,161 2,837,541. ' 3,261,000+00/ 2+44+00+00/ •' 10,360,452 ; •;•/ 7,750.782' *—*•«. //York ', 10,472,594 3,499,044 3,711,249 ' —+ 3,398,561 12,888,808 3,309,908 / HfcrmDtlfg Lancaster Inc. or Dec. % —34.3 760,711 - 4,183,016 ./•■ 4.580,126 /? 4,415,618 i 2.6 — 1,884,189 2,549,767 2,727,568 3,298,999 —— . " Chester'r ■ ?/V- $ / 8 —3,737,943 -« Bethlehem ;: 1945 1946 1943 1944 Inc. or Dec. % District—Philadelphia-* Third Federal Reserve PhJ^-Altdfltta .——I -Week Ended Feb. 9- Month of January- „ $ 8 939 CHRONICLE THE COMMERCIAL & FINANCIAL Number 4465 163 259,104,423 737,772,679 '; V; -i" f •. ' ypt. 196,439,116 + 31.9 162,997+01 134,390,653 THE COMMERCIAL & FINANCIAL CHRONICLE 940 1946 1945 S $ Clearings at— • 1944 — Omaha -Week Ended Feb. 9- 1943 M 1946 $ ' v ; 1 i/^r;T4,922,893 36,623,470 Mo.—Joplln Kansas City Bt. Joseph ;>Carthage — Okla.—Tulsa Colo.—Colorado Springs v CX? :U-+ $ ; Inc. ifs : 1944 or Dec. ^ .v; • . .. 1943 . $ t $ *:< 1,758,337,251 i ; 4,399,507 ••3,138,008 + 23.0 60,004,429 52,862,123 4,368,640 2/499,030 + 74.8 2,795,691 2,680,075 9,224,346 6,955,277 + 32.6 6,936,491 5,589,191 208~31~0,509 182.T4~3.401 "+~14.0 118^11,210 16M7~4~4i7 7,691,349 ;; 6,276,596 + 22.5 + 98.0 247,943 ■> j • v. 732,045,447 ;' 26,092,024 / 46,185,052 4,042,260 •/'! 7,598,720 5,235,284 1,095,614 250,748,210 1,652,318 3,928,318 'V 1,086,883 + 52.0 1,088,475 943,569 1,475~707 ' 204,554,006';. 1 r 4,037,728 WwaSo + 46.4 786,671 683*888 + 17.8 262.246,290 1,347,677,696 323,974,962 274,935,600 7: 5.143,335 2,721,332 150,*467/000 116,843,000 15,040,431 .3,848,000 13,1)33*53 6 3,278,000 +17.4 2,099,538 % 1,694,527 "+23.9 1,270,666 1,043,839 6,~750~860 5,806,952 + 16.3 5,351,609 4,2171899 183,349,164 144,277,347 + 27.1 114,400,969 96,772,642 88,754,153 3,247,512 82,356,341 285.197,731 > : / 340,804,875 5,809,178 6,881,205 1,900,000 1,620,111,529 . 4-13.6 69,824,486 / 3,257,283 * ':■% •, 10.6 + *225,000 .4,095,814 12,998,220 35,033,084 /" J. 167,988 : 301,790 '4,653,277 23,301,619 1,572,022 52,435,000 4,610,983 \ , + 22.6 /+ + 30.0 , . - :•:•//• 7.8 +66.8 4,554,601 : l +. 9.2 taX: 272,914,142 1,945,425,752 3,886,362 851,621,875 . 169,093 - 85,872,958 ■ 389^73 ~?M 39,206,346 +26.8. 974.773 ;/s /'•;: ;v' 13,969,376 8.9 * -r- f/:, 221.017 , }'M 445,599 14,9*53.403 /*...•/ —17.6 . •,:.! • 4,534,639 : 334,715,734 Total (15 cities).— 1945 280,259 +J' .:r/272,039,731 - + 48.4 1,689,034 /:/ >/•• 5,919,587 Denver Pueblo —22.6 i;+. 4.0 . 32,079,585 i- //!/•.:':.g8,639,868 19,899,294 —33.4 . 819,474 339,653,782 1,144,650 1,300,446 +10.6 : 3,727,380 957,721,497 K 992.371 +25.3., •M$£-l,562,830 11,545,907 38,091,819 5,530,988 1,042,313,453 35,036,621 1,392,500 7 63,298.017 7,589,648 — : 1,209,004 '•' ■M.JL,040,132 —a. Topeka— ,,$ . "+™15~1. 'I' 18,556,317 338.609,623 •;<.. 1,515,103 Kans.—Manhattan. 1946 ' 21,359/268 374,336,353 Lincoln 72,123,757 74,822,900 30,305,086 26,333,924 8,319,022 12,761,715 —34.8 8,923,925 6,929,173 5,742,629 238,076,332 Reserve Federal eleventh - + 27.6 972,368 1,240,617 Hastings. Wichita • District—Kansas City— Reserve Neb.—Fremont Parsons or Dec. % Month of January Federal Tenth inc. 7„". Monday,' February-18, • 16,539,424 + 35.6 10,797,806 8,589,256 11,603,375 —20.3 704,673,560 Texas—Austin 22,435,621 9,247,432 617,638,439 + 14.1 8,989,162 482.244,050 410,975,976 — Beaumont Dallas ——-— Galveston ;v; '•v 14,174,000 581,853,946 *4,151,479 520,859,352 / 3,856,248 // Ida.—Boise Ore.—Eugene - '/ 14,195,512 17,399,904 . . 11,628,000 .364,984,351 . 2,474,565 . < - / /: : ' 920,928,280 - + 28.6 1,985,520 7.9 .+ ' 91,58+000 77,059~046 10,0691338 10,907.629 .3,812,500 . : 2,397,000 ; , 3,238,649 4,966,725 2,320,147 21,189,936 . ' • '• 37,712,939 -. " — ' 46,794,702 ' 11.848,085 30,011.946 8,602.298 1,478,643.389 1,341,396,843 34,793,181 13,769,204 27,472,107 11,036,082 27,510,921 Jose Barbara Stockton 2,656,090,143 Outside New York. 26,712,463,21? •24,730,440,007 13,924,282 + 24.8 8,378,883 0.1 19,722,394 17,999,486 + 1,184,683,074 +16.0 •53,673,592,064 21,832,015 i 5,924,937 8,811,273 v ; 19,£163,956 •: 8,736,052 20.7 3,820,902 + 3,037,391 214,818,251 ? 3,706,079 48.7,. 197,631941 4,279,547 1,418,401 4,311,764 - , 3,353,177 ' 2,963,578 + 48.9. 1,989,828 6,305,854 > 5,003,986 6.6 2,241,461,686 1,932,796,857 570,730,408 38,101,645,510 12,291,875,572 22,805,561,168 19,699,079,300 5,126,063,434 +18.2 10,678,782,602 8.0 +26.0 482,925,467 46,098.907,434 4,470,538,087 + ; + + 29.1 265,684,000 342,965,000 ; +12.4 '■ 52,821,544 ; / '< 5,942.482 6,157,154 — 2,490,983,101 60,322,470,197 (19 cities) /; 20,413,038 +10.2 : 22,454,033 A 13,452,988 30,052,909 4,581,263 1,020,461,784 18,788,370 5,485,437 V. 59,14i;i07 ' 9,172,317 ' + 19,7 : -•§;+14.7 . 3.6 + 15.1 — ' 26.0 + 1,193,215 6,987.034 42,753,218 ;. 70,328,299 1,652,884 . ' • . 69,929,891 40.9 + 8,067,401 11,653,183 15,973,566 —19,4 : + ,7.8 ; 2,305,207 •■ .117,830.982 25.806,344 39,813,996 5.2 + 30,003,321 Grand Total {184 citiesi. '314,321,556 6,965,176 128,828,821: '+17:7 7,499,059 Francisco 1.2 15.5;;,: + ' 25,081,685 Riverside 2,909,000 7.9 + 9,400,037 Pasadena , +.25.1 13,488,790 14,784,630 . 8,025,593 8,411,577 + 32.5 • 2,823,106 3,714,247 387,732,878 27.4 +15.4 - 39,990.080 / Modesto Total - 1,077,239,077 +16.8 / + 8,205,236 46,205,430 — Berkeley- Santa • 6,155,137 2,591,159; 21,745,978 ^1.1 142,208,394 ; 153,437,880 Calif.—Bakersfleld San ^ +13.3 348,879,333 10,261,021 San 7.4 _ • 11,975,444 " 11,497,784 3,591,000 344,708,"357 Portland Utah—Ogden Beach 41.6 +12.7 ! 393,934,300 • - 4.757,000 ' City / j ' • . 3,765,460 •4,326,562 15,251,493 13,272,466 Ariz.—Phoenix + + • 7.-7 " 27,671,967 1,345,154,060 389,421,-369 — Lake + »' \ 37,040,794 ^'/47,293,181^/ , 14,270,000'U 424,536,558 4,284,379 Vr; > Dlstriot—San Seattle Yakima > { 89.0;' 8,701,265 ..-<44,207,102' 37,417,746 > +21.3"-/ +11.7 ; - ' 3,320,712XX' / 1,523,705,005 (11 Cities) Wash.—Bellingham Long " • .31,193,111 Twelfth Federal Reserve Salt •?/'-!7,534,063 3,565,887 Texarkana L«.—Shreveport Total ■ '10,669,610 Falls Wichita •'•.:'i+*'i0.4- " 17,187,000 Arthur +17.9-/;,:: • 67,640,149 —:« Houston Port ' 54,316,331 74,682.501 Worth Ft. ■I-- 64,044,858 Paso El + _ 390,177,307 r. +15.1 , 907.987 14.7 362,259,109 8,462,449,204 3,820,738,327 + / , 6,994,885,345 3,467,034,480- * *Estiinated. / / Company and Issue— Exchange 1st tifying daily to the world. We give below RATES CERTIFIED BY FEDERAL RES .FEB. 8, .1946 TO FEB. " • Argentina, peso— / ' , ' Official $1 preferred 6tock———.Mar Wheeling Steel Corp., 1st mtge. 3 Vis, ser. C, due 1970„Mar Free., ; .a-~ pound.—. Belgium, franc— v /' 7 ~ Brazil, cruzeiro-r» t .251247* , t i, ,022845 - ; : 3.214113 2 .022345 .909090 Colombia, peso.. Denmark, krone— „ ' (British), Mexico, ' .208766 4.033750 ,008410 .008410 .301215 301215 .205800 4.033750 .008410 U—r —7 lupee ,301215 .301215 • / ' : • „ .205800 .205816 .205816 guilder. ; .008410- V - . '" .379324 .379324 379324 .379324 , Newfoundland, dollar— .909090 ' ■ .909090 '^4-—— Official. Free .909030 , • New Zealand, Portugal, escudo———————— ,040501 —L— —a Sweden, krona.. '777 M-i .233628 Africa, pound—. of South Uruguay, . MX-'. 4.005000 peso— . > .238520 ... Switzerland, franc Union ; " .202020 .202020 .040501 .: .091324 Spain, peseta 1 .202020,7; .040501 .040501 .091324 7/ .202020 . 3.227000 77 k Norway, krone , .905000 3.227000 3.227000; t/ / 3.227000 pound.. Holiday .905000 .905000 v;:. .904375 n : .903090, . .091324 .238520, .238520 .233622 .233626 4.005000 /V 1; .658300* Controlled Noncontrolled. / / ; ' .562900* — ... .658300* .562900* Power Co., 462 - — Hinde"& Dauch .658300* .658300* .658300* .562900* : ■:#';'•• {§5*12 Electric Si 648 308 775 ?■ / 776 i 462 §3071 1 68 463 / 649 778 651 . • 7 .238520 4.005000 .233628 MMM4.005000>g7l - .091324 . 306 — .208766 4.033750 .208766 .208766 4.033750 peso Netherlands, .907500 .569800* 774 : 15 1st mtge.<£srdue 09^1—Anytime California Electric jijpwer COrfir. *5 convertible prior preferred stocks —Mar 5 .907500 ; Canadian Car & Foundry Co., Ltd.— , .569800* = $2.10 participating preference stock. Feb 18 .208766 Canadian Utilities, Ltd.— 4.033750 • 1 1st mortgage 5s, series A, due 1955. —_—.—Mar: i .008410 Carrier Corp., AYa Yc cumul. conv. preferred stock—^.Mar 14 .301215 Columbia Pictures Corp., $2.75 preferred stock Mar 18 ' .205816 fM Commonwealth Edison Co., 3V/2 ^ debs., due 1958 Mar 9 .379324 , Compo Shoe Machinery Corp., conv. preferred stock—_Mar 15 Continental Gas & Electric Corp., 7% prior pref. stock-Apr 1 Consolidated Vultee Aircraft Corp., $1.25 pfd. stock i .909090 Mar 1 .905003 Cuneo Press, Inc., 4V2'( preferred stock—— ——.Feb 21 3.227000 Dominion Tar & Chemical Co., Ltd., 5V'a'v pref. stock—.Apr 1 .202020 Elastic Stop Nut Corp. of America-— V *,.• .040501 15-year 8% debentures.— Apr ,15 .091324 Federal Grain, Ltd.— ^ .238520 '1st mortgage 6% bonds, series A, due 1949..*...——Feb 28 .233626 Great Northern Ry.— 4.005000 4Va% gen. mtge. gold bonds, series E, due 1977—July 1, '47 Hampton Co., 7% preferred stock Mar 1 Butte < .90S 090 " England, pound sterling.— France (Metropolitan! franc India .907500 .569800* 7 646 3 4 ^Feb 774 .909090 .569300* 1975———Mar 1 .051802* .907500 debentures due Mar .051802* .909090 income 3% debentures due 1953 Bowman-Biltmore Hotels Corp.— hM* debentures, series A, due 1955.— Binks1 Mfg. Co., 1st mtge. copv. 5V< bonds due *1951 .060602* Holiday 4Vae,b 1 .■051802* .906875 646 1646 - ...Mar .060602* .569800* —_—: : .022845 .060602* *; " Free. Armour & Co., Atlantic Refining Co., .209090 ' i .251247* 3.214115 .051802* '// .051302* —— . 646 debentures due I960.—— Mar 2 Sinking fund 33/4# debentures due 1970—./.-X-Mar: 2 .297733* .251247*, Canada, dollar— Official——— Page 4 [I. Sinking fund 2%%'. debentures due 1950—J—Mar ', Feb. 14 , 3.214113 . .022845 >" , Feb. 13 .297733* .251247* > .060602* .060602* Official Free , i ! Date ; , ' .022845 ENTIRE ISSUES CALLED . /Sinking fund 3Va'& 4 /Si:/:-3.214113 ^ 3.214113 _•_. 697 698 due . Allis-Chalmers Mfg. Co., 4# conv.- preferred ctock——Mar American Gas ds Electric Co.— *- .297733* . .251247* — — Australia, 1 1 3^is, mtge. 1st Company and Issue— / Feb. 12 Feb. 11 v $ ■■■■MX. .297733* • ' .297733° ■ — - /''s ,/ 697, Light Co., OF 1930 ERVB BANK TO TREASURY UNDER TARIFF ACT 14, 1946, INCLUSIVE 7 7: Feb. 9 Feb. 8 / 695 1 & Apr; Equipment Co.— cumulative convertible " Country and Monetary Unit t 1968——Mar Power Buying Rate for Cable Transfers in New York Value In United States Money • - Noon Pag* Corp.— 4Vis, duo 1948-— mtge. Utah of Section 522 of the Tariff Act of 1930, the Federal Reserve record for the week just passed: a EXCHANGE FOREIGN Warehousing Victor Bank is now cer¬ Secretary of the Treasury the buying rate for cable transfers in the different countries of the Pursuant to the requirements 'Date Terminal Refrigerating & •56290Q* .562900* / 191 §15X3 780 • Paper 780 Co., $4 preferred stock——Feb 25 International Furniture Co.— ., , 5%/convertible debentures/due 1957.._...i.Mar vl International Power Co., Ltd., :7V> preferred stock. Mar 1 . . 652 • •Nominal rate. Company and Issue— Date >Page (Sidney) & Co., Inc., 1% preferred stock—Apr 647: preferred stock— ii —Apr 1 7 §2636 Carolina, Clinchfield & Ohio Ry.— ' j Redemption Calls and Sinking Fund Blumenthal 1st mortgage 4s, series A, due 1965..—/. Chicago & Western Indiana RR.— and common stocks called for redemption, including those called under sinking fund provisions. The date indicates the redemption or last date for mak¬ ing tenders, and the page number gives the location in which the details were given in the "Chronicle." : preferred NOTICES OF TENDER y, •/ . Comparand Issue— Aroostook Valley RR., Central Pacific Ry., Heller E.> (Walter ■ • 41kV. Co., Macfadden Publications, Inc.—7/ 6% debentures (subordinated) due /. , Mount Hope Oregon RR. & Navigation Co— ' 4% consol. mortgage bonds due 1946 . Oregon Short Line RR.— Consol. 7- Southern 1st mtge. 5 % Pacific < „Mar i ,.Mar 15 * Hygrade Food Products Corp.— 774 67 652 1st .JFeb 28 mortgage bonds due 1947—: PARTIAL 655 315 r Atlanta Mfg. Gas Corp., Light preferred stock—_A Co., 1st mtge. 3s,;. due —,1 : Page ,305. 1963—Mar 1 646 *> - bonds, series. A • ..Apr . 5^% deb. bonds due 1957_Mar - 1 652 1 1 72 653 Mar 1 * —.Mar 1 466 4 & Arkansas 5% preferred stock Ry.— mortgage 5s, series A, due 1969 781 . 1st lien &: ref. mortgage series A 5"2"^ Sun Chemical Corp. $4.50 preferred stock, Noms Northwest 7c/c first Publications, preferred & 6% ' »*. Pacific Telephone & Telegraph Co.— Ref. mortgage 3Vr4 % bonds, series B. Philadelphia & Chester Valley RR,, pfd. 658 ♦*> * « , 653 "'653 & 781 194 782 1 j V §1516. bonds due mtge. due 1948.— 1966 — & 467 §2822 §2822 .w<j657 9 Apr 1st xntge., 4% ; (not preferred), Newtown 19$ '§3078 • due 3Si- bonds due 1948 New York RR., 3e,i mtge. Pennsylvania Sugar Co., 4"t> debentures due Philadelphia Rapid Transit Co,— 51c and 6% bonds due 1962 — ■' * 2nd preferred stock-Mar;:! Philadelphia, .783 . Jesus Oregon-Washington Water Service Co.-,/'/.//. :• 1st mtge. 5s, series A, due 1957————.....Apr bonds 1 de Inc.— stock 314 : bonds Mar 1 "series" A.MiMar Saints 655 1 1 Pennsylvania Gas & Electric Co.— , des 1 Department Stores Corp.— ' ''' 0% preferred stock Feb 28 Niagara, Lockport & Ontario Power Co.— '1 * i/v/".V/-/: •'/ 1 1st mtge. and ref. 5 Si bonds, series A, due 1955i—.^-Apr +1 Niagara Share Corp., 4V2Si preferred stock....—____Mar 7' Northern New York Utilities, Inc.— /V :. • 1st lien & ref. 7Si bonds, series A, due 1946..—.Any time 1st lien <fc ref. 6c/o bonds, series B, due 1947. Any time 1st 1 des Soeurs 311 " r /Apr National - and ^ •. Massey-Harris Co., Ltd.. 1st mtge. 4Vis, due 1954 Mar Missouri Telephone Co.— " 4Vic/o 1st mortgage bonds, series C, due 1961——Mar Narragansett Electric Co.— " 1st mtge. 3% bonds, series A, due 1974 — -.Mar Nova Scotia Light & Power Co., Ltd.— \ 1st mortgage 4s due 1967 .—.Mar Oklahoma Natural Gas Co., 1st mtge. 27/#s due 1961—Apr §2824 Feb 28, 6% mtge. 6s, ser. A, due 1955_Mar 1st 112 Date conv. 1949— Longhorn Portland Cement Co., REDEMPTION Company and Issue— Alreon Any time — mtge. due Illinois Power & Light Corp., 52822 , ref. B, International Paper Co., ref. Joseph & Grand Island Ry.— 1st and series Co.— 1st mortgage honds^.,. < , , §2822 .—Any time §2814 . .7 . ; Communaute ■><, - , , . Louisiana —...Any time * 1 La - et de Marie, 1st mortgage 4s & 3'/as._Mar V; 1 Langendorf United Bakeries, Inc.— , ,• • 6'c preferred stock ' '4.——_'._Apr *' 1 {Lyons-Magnus, Inc., class A stock——'———.Apr 1 Manila Electric RR. Si Lighting Corp.— 5% 1st lien and collat. trust bond certificates.../—Mar 1 Midwest Rubber Reclaiming Co.,: $4 preference stock./i.Mar 1 Morris Plan Corp. of America— ^ v/ Collateral gold notes, series of 1929 due April, 1946-Apr T1 1' 77 308 mortgage bonds, series A Apr 1 68 7 1st mortgage 5% bonds, series B Apr 1 v. 68 m 1st mortgage *Va%'- bonds, series C_. Apr 1 . 68 Commercial Discount Co., 8Cc debentures, due 1947 —Apr 1 / 649 Dominion Dairies, Ltd., 1st mtge. 6s due 1957——Mar 1; J 778 Elgin, Joliet & Eastern Ry.— . ' . 1st mortgage 3V*% bonds, series A. due 1970—,—.Mar 1- v 309 Empire District Electric Co., 1st mtge. 3V2S, due 1969—Mar 1 / 651 Eversharp, Inc., \V*rk curnul. conv. inc. debs., due 1965_Feb 23 >463 ' bonds due. 1946 San Francisco Terminal. St. due 1969 • D, due 1962->-——Mar 1st V/ ; 1968— 1st mtge. 5s, bildge Corp., 1st Si ref. mtge. 4Vi% bonds, series Cleveland Union Terminals Co.— • Page Date • sterling bonds due 1961.—Apr 12 mortgage bonds due 1949_Feb 28 5V2<fo preferred stock.. Mar 22 1st ref, & .——Mar .7 list of corporate bonds, notes, a v . Buycrus-Erie Co., Notices Below will be found / Kresge Department Stores, Inc.-+» * 4 'ic convertible 1st preferred stock 1967 . .—Apr 1952 §2187 1 * Apr Apr / ; :.v .. 1 784 1 ,' 784 1 784 July 1 Mar 1 §3079 Piper Aircraft Corp.— 60-cent conydrtible preferred stock Feb 25 Potomac Edison'Co., 7Si and 6% preferred .stocks May 1 Reading Co; Jersey Central, coll. trust? -4s due 4951-i/-Api!/.l §1678 — 658 819 i THE COMMERCIAL & FINANCIAL CHRONICLE yolume 163 77 Number 4465 Company Republic Issue—. and Drill & Tool s V. Co., v * Date ' 1 preferred1 stock__^dApT cony, Ritz-Arlington .Trust, 1st mtge, 5s,duel946_-__-_____Mar Royal Palm-Ice Co.—•?; 1st' mtge.«6s Southeastern due Ice / , f-v , ; ,> , 820 ' Dr. Doyle 660- Drackett 319 320 Durez Plastics Eagle Pitcher 7 / ■ . Per - 4- Northland 17 j ' 2-18 (D, stock-_.*:Z_.;_*,_w_Aa_-Mar 15 Schumacher Wall Board Corp., $2 preferred stock __Feb 15 Stanley Works, 5 % preferred'stocks— ——May 15 1 A.), Inc., preferred ; Southeastern Gas & incom? Water'Corp., gen, Hen collat, trust /<<,', due 1954-,. * ——Mat 7; /' bonds Southwestern Bell Telephone Co.—» •. .% // ;•/■'"1; 1st & ref. mtge. 3'/a % bonds, series B, due 1964 _Jun 1 Syracuse Gas Co., 1st mtge 5% bonds due 1946 _Any time Taylor-Wharton Collat. trust b due Iron & Steel Economic .ZV 10c '•■ZZ 2-28 2-18 Edison Ottawa 7Ms % cumul. Inc. bonds '■■;:// _______Apr i Utica 1 Co., 5'/2% debentures due 1952 Knitting Co., 5 % class A preferred stock Wilson & Co., Inc.; preferred stock—.— _Feb 20 _ •Announcement in this issue. ~~$In Volume 161. • preferred 25c $1.06 V4 (quar.) State 4%'}'« (quar.) Society Pawners +25c Stores, Garrett preferred (quar.). (quar.)— In th« ' V- ',; i v h. .. Pet Name of Acme Steel Co, Company Share 7 (quar.) Standard Aetna Z: 62 V2 c 3-15 2-25 Publicker 15c 4- 1 3-15 Puget Sound 75c 4- 1 3-15 $2.75 3- 1 2-20 Alabama *. Power. $6 preferred 87 6% Cast Aluminum preferred Mlg. Steel Co. Co. Cities class $2.75 American 4%% 40c Gas & Type American ZZ/Z Light Corp.— seriesi At shar e cash-——*:—.::—-. or Cooper $3 z Hazeltlne Corp.,' Helleman (G.) Inc. preferred $1 (quar.). 3-11 -v2-21 ■ 3-1 3- //Class B Ry. Distillers & ... 3- Bank 5 ; 3-20 2-18 4- 1 4- 1 50c 1 2-25 ZM34/1V/ 3- 30C . 1 S 2-20 1 87 %c ZZ 3-' VV 15C ' Z/Z3-;1-;Z' V 35c " 3-12 $1.12 Va 75c > q 4- 2- Co., 3- Manufacturing 3-1 2-19 3 7 »/2c 4- 1 3- 9 ' Co. 5-20 4-19 Z 4-19 3-15 Stone, 2 Vic 3- 1 45c Ltd. 2-18 2-28 15c' r^,;/ • (quar.) 4-16 410c 2-21 Z 3- 9 3- 3-20 Mortgage (quar.) Co.— 3-30 3-15 1 (Win.) Co. 1$1.75 $$2 3-30 6% (quar.) /■••,' $20c — preferred 3- 4 3-20 1 Columbian 2 Vac 3-15 2-25 ZC 2-20 Community 75c 2-25 3-14 ' 3-31 3- Congoleum-Nairn, Connecticut Consolidated Continental Quarterly Continental Co., _Z_. new (quar.)___. Co. (quar.)' Inc. Assurance 3-15 13 % c 2-28/ 35c Co. 50c 3-15 25c (Chicago) 3-15 2-25 1-31 2-25 4- 5- 2-25 3- 1 4- 1 3- 5 4- 1 3- 5 — 3-29 Clothing Co,, class A ZZv:Z (quar.)—. A (quar.)„___, 3-15 7 4c 3- 1 2-15 2-26 2-19 :/2-28 2-15 2-15 2-5 / $3 . .■•■••- /• 50C ^ Co.— 4xhpreferred (quar.)__ Deep Rock Oil Corp. (quar.)___—_ Bridge (irreg.)___, 9 2-20 3-30 50c 3-15 3- $1.25 5 3- 3- 3-15 3- 25C ' 7 . 1 2-20 2-20 United 2-15 1 Chlorine vaco •held Universal 4 . 3- 1 2-20 (quar.) • Motor Wheel Corp. (quar.) Murphy (G, C.) Co.— ' z " / ; Stock dividend, three shares $1 par for for' each no par share held——ZZ——Z_. New (initial Increased New York Quarterly, 35c 3-18 3- 4 tric 3-30 3- 2 American share for common 3-30 3- 8# 2-28 Bldg. 4- 1 4- 1 3-25 7/3* 3-15 3- , West -Z 3- 13 %c 5-15 Z;*5-.:r/ 3-12 2-28 Z 50c ' 1 3- 4- 3- , 1 Co. 6 2-25 2-15 10c 3- 8 ■'50c 4- 1 :50C •2-2 M 3- 1 3- 1 3- 1 2-20, $1.50 2-15 2- 8* 3-30 3-14 . : 2-20': 8 2-21 3-15 2-28 3- 50C 4-1 $1.25 50c 3- 1 2-20 $1.37'/a 3- 1 2-20 m 4-1 3-16 3-15 2-16 50O 3-15 2-16 3-15 2-12 3-15 2-23 $1.50 — 4- 25c . 1 3- 1 $1.75 2-15 2-12 '$1.75/ 8-15 8-12 43 %c 3-1 2-15 75c 4-1 3-20 $1.50 3-1 2-11: 30c 3-11 2-28 $1.06% 4- 1 3-18 $1.12 Va 3-15 2-28 Z .25c 3-, 7 2-21 4- 2-21 (s-a)_______ Products Willson (quar.)-.—-— & Co., $4.25 preferred (quar.)—,. z • . , preferred AVi'lv- (Initial quar.) Governor Co.__ ■ ' Mines, Ltd. (quar.) — Coke _;oZ_—-4--AZZ--ZZ^AZ Wright-Hargreaves . • Coal Zeigler & Below we give the announced 45c - 1 3-11 25c 3- 4 „ 51 - ;/ 4- lZ. /' 3-16 4- l.y 3-12 3- 1 2-20 3- 6 Elec¬ North ^. 4- 1 v- ■ ■/■. 6 3-15 2-6 1 include divi¬ given in the 2-28 2 4- dividends announced in previoui paid. / The list does not this week, these being ,Z 3-15 3- $25c 2-15 4-18 1 1 z; >2-15 50c (quar.) preceding table. 3- 1 : :2-20 '• ;'v 3-1 4- i? 8 2-15 ■ 4- 50c 1 3- 5 3- 1 4-18 8' & 3-15 7 3-15 25C 3- •2-18 3- 25C conv. 3-13 3-30 '/ ; Z 3-15 // 11%% (quar.).— weeks and not yet :4-i' lc . 72-26' u " ;zi5cZ." / dends 50c ■ /•/;• 25c 2-20 4-1 - * 2-15 (quar.) Motor 1 3- ; 'vf-A''r"''/- 2-21 3-9 ; : 3- 4-1 ____ . 3-1. $20c — Mills Woodward 3-27 j 31 %C 2-2 4 6 1 Michigan Steel Foundry Co.— $1.75 1 3- 4- 50C _______ Wheeling 2-20 1 $37 V2C Z' & 3-12 31 VAC ; Z; preferred (quar.) Lake Erie Ry ——'•__ Williamsport Water Co., $6 pfd. «luar.) Z' 2-18 3-4 ; Adam v Name of Company /'• //•■/:'Z';'Z/-ZZ/K Atlantic Sugar Refineries, Common 5% — 3-15 share Semi-annual 3-25 3-11 3-1 ' _ (extrai__ Gas .* Z (s-a) Wellington* Fire Insurance Co, Acadia shares 3-11 ' 15c • Corp.____________-_-«_i_-: Extra 3-29 45c 100 2-19 3-21, West- Washington Water Power, $6 pfd. " Pacific 3-19 i 50c of Wamsutta 12 %c each -7 1 15C Z; __x each 3-14 Co.— one common 3- i .3- 30c Z-- iquar.) 3-14 •4-1 —_____ (quar.)____ 3 50C 3-14 1 $15c quarterly American 2-19 — Wacker Wells $81 'Ac . ? Niagara Wire Weaving 1 58 ViC 3-29 , common—— Inc. 3- 3- 2-18 41 %C 4- 20c ./ $25c . Z Co., •Z 2-28 " 1 • 2-19 Insurance—- Merchandise 30c . Z Fire 2-zo /3- T $1.75 2-23 ? quar.) Hampshire 2-25 3-15' 4- Z: 1 2-26 j/ZZf, (quar.) 1 3-15 1 • 9 3-29 ■ 30c —— Co.— -3- 3- • Ltd. (quar.)___Z/—__ZZ ,,425C Machine; Tool Co.__ .*'": '• *50c (J. J.) 1 3-10 '3-11 . 15C .*. 3- Brewery. Newberry 3- .. 1 1Z 62»/ac Uti,ca Knitting Co., 5% class A preferred.— Valley Mould & Iron Corp., common $5.50 prior preferred (quar.)__ Wabasso Cotton, Ltd. (quar.)___— 7 Waukesha - 4- Z 2- 4-1 ;_Z: Match 1-15 Storage Warehouse '.'3A T-' 10c ' for 2-20 North •$L12Va common 1 Bedford ■ 97Vac; Corp. (quar.)____— Chemicals, Inc.— dividend, 8/1000th share 2- Corporation 2-21 Underwood 1 1 Nehl :3* r J20c 32 Vac preferred: (monthly) 6% preferred (monthly) 7',o preferred (monthly) Tyer Rubber Co., 6% -preferred 3- Co.'v (quar.)_——_. v 2-21 I31V4C 5 % Wilson Standard 3-15 3- T Edison Co.— Toledo Wisconsin Power & Light— ■ National 4 3-30 . 2-20 preference (quar.) National Petroleum Corp. 3- 25c ' A 2-20 Ltd., 2-2i . tl9o Z 31V4C ' Sv' 20c Z preferred-.- 1,; (quar.)_ 6 ___—_— Co.— 50c Co., 9 4- (quar.)_i___Z_-__'ZZ-_Z— 1 Grocers 3- 5 75c quar, Iron— 3- preferred 4- $ $ 1.25 3- . $1.50 4-15 . z___Z' 3- 6V2r/o 9' 3- 50c Oil Co., Ltd.— (D. A.) 3- Co.. National 3-1':/ Z 2-28 ___________ 1 3- (s-a) 9-15 buc Telautograph Corp. Texas Do,* (quar.) Thermoid Company (quar.) __________—__ Thomson',Electric 'Welding Co Title Guaranty Co. A San Francisco) — ; $7;50 preferred /(accum.) ______— Tobacco Securities?Trust Co., Ltd.— American dep. < rets. ord. reg. (interim.) American dep. rets. def. reg. (interim.) __ 1 1 com. 1.0- 3-12 (quar.)^.1 partic. preferred (quar,)_u. Sylvania Industrial Corp. -(quar.) 2-11 1 3-15 coiiv, Partic. Class 2-23 4- Ltd., Z 6-15 3-'5 ; (initial Steel,& preferred Stock Co._' 3-15-. 7- 3-30 ? Standard/Paying & Materials, Ltd.— 2-20 3-15 3- . . 60c Ring Z 4- „ 23c Manufacturing Stuart 2-23 Utilities, 9-15 10- 50c $7'preferred ■ _'_____*.__Z___— / . 9 Piston 3-15 6-15 _ - , 3- Muskegon 4A Staley (A. E.i Manufacturing Co. (quar.)__ Standard Fruit & Steamship Corp.— 3-20 $1.25 Nanaimo-Duncan / 1 Corp., com. 55c conv. preferred A (quar.) Southern- Natural Gas Co 3-20 4- 2-23 New 40c !_____ class 3-20 1 4-1 $1.75 9 New Z— International . (Chicago) — (irreg.) Power & Light 2-26 75c (quar.). 30c Corp., ; 420c (increased)—, — Casualty Co. Capital 3-11 •Z'Z"; 35c Z;,.;- 5- -1 (quar.) Bakeries* (Canada) Mills 2-26 3-15 31V4C (quar.)_______ Light & Power Quarterly Continental 3-15 / $1.25 .Shares_-_-_Z___-Z^- Edison "Z 4- 1 $1.50 $1,621/2 3- Monarch 9 Electric— Public Service . ' 4- Molson's 3-15 "Z:7»' Publishing— preferred (quar.) . preferred $1.20 Solar , '• 2- 9 3-15 2 37,j!>C /'/;Bolar/Aircraft*CoZ%iiua^ZZ_zZ_ZZZZZZZ-ZZZ 3-20 4-10 & 2 4- $1.75 (quar.) convertible 3.90% ■ ■Z:Z , 20c (quar.)—Z— Carbon Commonwealth preferred 3- Transportation 4-10 4- $1.75 - . Trustee 1 3- Miners 5-1 ' ____________ common ■ 2-20 /vZ; 3-11 75C Collateral 8 30c & */ Dairies-- fc 2-28 $1.50 /■•'Z;3rTZ: ) (quar.) (quar.) preferred Western • " loc Sloss-Sheffield 3-11 4- 15c — — < 2-10 ' ' 2-15 4- Z .—Z—; Gas & (quar.) 2-25 10C , , X v.. _Z„___ 25c" Inc., common (quar.)___ $1.12Va 4Vir/o preferred (quar.)—— $1.31 Va 5V4r,'o preferred (quar.)—_ Meteor Motor Car Co. (quar.)—Z— " : 25c7 /••Z'/Z $1 Minneapolis & St. Louis Ry.— $1.50 Minneapolis Gas Light, 6% pfd. (quar.)iZZ $1.37 Va 5 Vi % preferred (quar.) Z——_ $1.27 Va $5.10 1st preferred (quar.) ___A/Z_Z '5% preferred (quar.) Z— $1.25 Mississippi Power & Lights ; : $1.50 $6 1st preferred (quar,)i—_z '.- 2-21 3-15 -,'Z 40c preferred , Quarterly _____—Z 3-15 3-5 $ 1.12 V2 Chrysler Corporation Coast Counties . 3- ; 3-30 75c Mc-ck 2-25 ZZ/3-''lZ $4 r; _. Machine——— Company 3-30 Z Co. Merchants _ 15c & 2-28 , (annual) Transit, > 1 3-20 4-1 75c _ r'-■ 3- 4-15 $1 Rivet 3-11 . 50c , •) Charlestown 30c 1 z 3oc Sioux City Gag & Electric Co.— New common (initial) ; , 2-28 $1/25 preferred (quar,) $3 2-14 3-31 / 50^ (resumed? common : Simmons-Boardman 2-14 2-28 1 2 '::• ' M (quar.) 11- B y/r 3-14' 23Zc class Paper Co., 2-18 tA.yI 'J- ^ . 35c Master Electric Co. (quar)-—*—— Maxson (W. L.) Corp.j._—__„Z—Z 10c ' 25C McCrory Stores Corp., common (quar.) Extra. /7ZZ:Z25C',Z : 79c 3V2'/>' conv. preferred (initial) 3-15 Wv/%' Ordinary (irreg.) Canadian Tire Corp., Ltd. , 1 2-28 16c 1 Z 2-18 3- 50c Ltd.—A ' 2 (quar.)__ . t 3-29 50c _ 8- 12- tlOc Signode Steel Strapping, 5?c .preferred (quar.) 3- — $$1.25 137 Vac ________ Pacific Railway 1 $37 Vac (quar.)—_ 3 30c preferred Class A (quar,) (R. B.), Inc. (quar.) Serrlck Corp., class A_. 1 $15c : 2-12 9- s-a- " , Permanent 3- 3- 2-12 5- ' __________ Class 1 Inc.— 5% -. 2-23 3- / |40C Eemler ; 9 1 ' Silverwood Magazine Repeating Razor, common (quar.) $5 preferred (quar.)—— Mapes Consolidated Manufacturing Co.— Increased :quarterlyz_Z_i.i___^__—___T._/._ 2-15 ' Crushed 3-30 3-12 Lyon Lumber Co.——.'Z-.—— 5-20 120c (q (s-a) 50c 50c 7'Ir preferred (quar.)——. Liquid Carbonic Corp.— i'/a % preferred (initial) __— Ltd- (quar.) Co. 2-4 3-1 1 9 1 35c '425c Forge 2-11 ; Brass, 3-28 3- 1 preferred (quar.)!iZ_A^_-_-.____*.__^_/. (Laura) Candy Shops (quar.) Securities Corp General, common iquar.)ZZ ; Z - . :40c (quar.)— ________ $1.75 Lexington Water Co.; .7'A preferred, (quar.) 12VaC Liberty Fabrics of New- York-—.— Lily Tulip Cup Corp. (quar.) _—ZZi'::--1 37 VaC 30c Lincoln Stores. Inc., common iquar.)—— 6 4- 450c Note 12'/2C Co 2-28 4-15 6- b'.i> , 2-15 3-15 3- t40c Secord 2-25 common '--Extra Leslie Salt (Vancouver)— Bank / ' v I 3-18 1 2-13 $1.25 - 2-15 2-25 3- .. 2-23 ______ 2-15 ' 7 1 , 2-23 1 3- 3- ; - (quar.)—_____ 2-18 1 •/" ?40C Co., new common (initial) Scythes & Co., Ltd., common (quar.) —— 2-23 3- $1.50 $1.25 :W"' : Z $1.75 5 2-18 1 3- ? 1 3- t25c (quar.)________ (quar;) Schiff 3-22 __ 3-9 3-25 3- 1 3- 4 3-15 Vegetable Parchment (quar.)_— 2-23 3- 9 50c Kern County-Land Co. (irregular)————— 3- 1 2*25 $1.50 Keyes Fibre Co., $6 preferred (accum.)-— 3-16 2-27 l'ic Kinney Coastal Oil Co.— Kresge Department'Stores-— 4- 1 $4 convertible 1st preferred— 7 2-15 3- 1 30c Lake Superior District Power Co., common'— 2-15 3- l'Z $1.25 57« preferred ;4quar,)-—_L_—z—__l__Z_ 3-14 2-20 Lanett Bleachery' & Dye Works—; $1 3- 1 2- 1 20c Laura Secord Candy Shops, Ltd. (quar.)—. 3-2 3-12 La/Roi:Cogfc (initial 1 Z//Z//-7''707.Zz 2-20 3- 5 Lee (H. D.) Co., Inc. ;(quar, 25c 3-16 3- .. 4- 3- ? (quar.) ____________/_Z__ / $1.3114 Z 12V2C Brothers, Inc. Increased • Kalamazoo 2-28 / 1 2-28 shares, preferred $5 3-11 3-30 - (quar.i (quar.) 3-11 7 3-15 3- 2-19 J40C Brothers, Inc. (quar.) Manufacturing Co Saginaw & Manistee Lumber Co.__________ St. Joseph Lead Co. (quar.)*. ' San <Antonio Gold Mines, Ltd.— 2-15 1 3-15 $1 (initial) Group 3-15 3- 3-15 2-15 • ; iquar.) Russell 2-28 3-15 2-20 1 1, Z: 3-15 ; .. $1.25 > Roos 75C iquar.) Common 2-18 : ' 1 3- 70c Increased quar. . 25c ^increased quar.) _Z—_Zi $6 1st. preferred .(quar.) —w—-Z— $6.50 preferred ;;(quar.)/__--/— $7 1st preferred (quar.) —:—__— Jamaica Water Supply Co., com. (quar.) 3-1 '} i, • • • Iowa Public Service— 4-1 < ■■ Detroit 2-20 $1,121/2 2-18 . 3-9 25C 5% 1st preferred (quar.)— Canada Foundries & Forging, Ltd.— /Class A (quar.) Canada Northern Power Corp., Ltd.— "7'Iv preferred (quar.) Dayton 3-1 4-1 . 3- 3-22 2-28 : 4- Vi7V(!»; 'lst: preferred'.;(quar;) ___-;/___w______»'i:' $1.75 z 7% 2nd preferred (quar.)_/._Z___________ $1.75 7% 2nd preferred (quar.) Z? $1.75 7','e 2nd preferred (quar.) $1.75 Ronson Art Metal Works, Inc.— 3-31 — 5 r/o convertible Canada Cycle & Motor Co., Ltd.— Curlee 3-11 1 $1.10 A International ' Crown 1 4- 75C i-: 2-15 8 x-- 50c . Brown-McLaren 5 '/t! 4- $1.50 3- •3- 425c Calgary St Edmonton Corp., Ltd. 5 '/*> 3-11 — International Cigar Machinery Corp.. 2-21 4-11 , Quarterly Chiksan 1 $1.06»/4 3-15 117 Vac —— American Chicago 4- 3-15 Institutional Securities/ 2-28 25C (quar.)— Elevated ; &■ $1.75 Extra Carter 35c 1 4-' IZ'v $1.50 City Manufacturing (increased Canadian 2-16 . $1.50 preferred Independent Pneumatic Tool Inkograph, class A (initial) 9 3-15 Z 62%c ) Boyertown Burial Casket (quar.) Brach (E. J.) & Sons (quar.) —: •/ 2-20 1 3-15 (quar.)' conv. partic. 2-20 3-11; , 20c preferred conv. Canada 2 3- 3-15 / • Common Z;3-'8Z 15c Corp. —>__~__Z*>.VA. Berghoff • Brewing Corp.—,*.——— Bigelow-Sanford Carpet, com. (quar ); 6% preferred (quar.)________ Bird & Son, 5%. preferred (quar.}._„, Birmingham GaS Co., common.. S3.50 prior preferred (quar.)________ Bloch Bros. Tobacco (reduced)--.— Bond Stores, Inc., commons.——:—. ; 3- preferred (quar.) Hinde & Dauch Paper Co.— ^ Holophane Company (increased) j________ Imperial Varnish & Color Co., Ltd.— 2-20 1 :zz 3- 5 Aviation Canada 40c 25c new Brewing Rubber; Corp. class : $1.50 . Hiawatha Oil & Gas Co.— 5'k 1 ? • $1.18% . 3-29 25c 3-15 9 '! 3-22 3-12 preferred & 3-22 ' 3-30 $1.50 (quar.) (quar.) preferred preferred Copper & Reymer 2-18 I ZZ ______ Rice-Stix Dry Goods Co.— 7% 1st preferred (quar.) f'/o 1st preferred, (quar.)^__zzzZZ_z_'_— 25c 8 3-15 25c ______ Brummel Ties Buffalo 3-1 (Initial)— Hewitt ■;-4-1:7 $1.75 Belgium Glove & Hosiery, Ltd.— Common (initial) ? 3-20 4-15 $30C Extra <quar.)_———- 2 3-15 400 ) Annual 3-15 preference; (quar.) ________Z non-cum. 2 $1 20c B/G Foods,-Inc. (Increased) Bangor Hydro-Electric Co.— 6% preferred <quar.)_—_ 7 '* preferred (quar,) British 4-1 4-15 Light Co.— preferred Insurance Co. of Texas 5 Vi % 3-11* 50c preference 3- $1.18% (quar.)_.V-V; $4 pr. 3-11 3-11 // 68%C ' - Tobacco, 3- 4- 2-15 3-27 62Vac . Hathaway Bakeries,-Inc.— $7 convertible preferred 2- 1 40c Chemical Co., common (quar.)_^__ convertible preferred; (quar.) a-^_Z 6 y,,//z (quar.) :%z : common ■ Brewers Revere 3- (quar.) preferred non-cum. $1.50 States 2- 2-15 Founders___— Anheuser-Busch, Border $1.60 Republic Co. (quar.i— $6. preferred (quar.) 1 3-15 ■ & Co., * Boston 3-23 Brewery— 1/Z: 1ZZ 15c __ Western 4- • $1.50 Wringer 4V2% non-cum. 3-15 Hartman & Electric, American 5% $1.60 .i. 4- 50C (quar..> preferred Bendix 1 30c Co. 4- ?'f S0C y (quar.) American Machine & Foundry. American Paper Goods, 7% pfd. Eeau 3- Corp.——, 4- $1.75 div. (opt. A of class B stock 2-19 (quar.j America, Commoh Power A 2-25 ZZ3-2;.Z $1.50 —. i 6% preferred (quar.) Aluminum Industries, Inc. iquar.i American Chicle Co. (quar.i— American *- 1 1 2-23 35c ; Knitting Mills, common.. ,$1,60 non-cum...preferred (quar.)Z____jsZ_ non-cum. 4- 1 $2.50 Regent $1.60 ? $2 3- Co._____Z_-ZZ-________Z_„_i.' Z/,' 35c Packing 621/2 c Utilities—v.-^-;$4.40 preferred (quar.)—___ 1 preferred 8 3- Harshaw prior 2-18 75c $4.75 Power-& 3-1 3-29 Gulf Industries 2-20 1 $1.75 / reg.z__4-Z 3-1 3- 20C __________ ord, common 3-15 3- 1 ; 15c (quar.) 3- . z. Light, 6'/> preferred (accum.) 3-15 3- Power preferred 3,-20 50c 3-23 $1.50 (quar.) (quar.) of 3- 3-31 10c (quar.)__//_— Allis-Chaliners 3-15 Corp._ iquar.)____. preferred Alloy 25c $1.25 , / _• $5 Ra th Manufacturing Co, (quar.) Great Northern Paper Co, (quar.) ________ Green Mountain Power, - $6 pfd. (accum.) Greyhound Corp./ common- (quar.) _________ W\'to preferred : (quar. — ,2-20 20C Common (quar.) 5%" preferred (quar.i Air-Way Electric Appliance Alabama Mills i___. $3 (quar.) 2-20 ,.Z //"/'. $1 ■/; • $1 (quar.)_________ Ltd., Co., / Inc., ; 10c Manufacturing Griesedieck America Public Electric 50c 4 V2'/» ./ 4- 25c Co.— // Powell / Rivei* (irreg.)______ Goodman vt Re0. 3-12 3-21 2-25 Gorham Holdert Payable ■ 1 Chocolate & of 3-20 i . Globe-American Corp, Gulf ~ 4- Nut Co. 1 share Harvester Griggs When 40c . Engineering :/• •' Potash 3-15 of common or cashCorp,, common (quar.)—. preferredZ(q[UaT. Gleaner Industrial and Miscellaneous Companies ' 3-20 2-20 1 75c 37 V2C Pittsburgh Youngsto.wn & Ashtabula. Ry.— 7 r/o i preferred (quar.)_Z_—____________ Prentice-Hall, ...—Z_—_ Co._____A. Company 10c 44/1000ths * . 3-15 3-21 1 4- 32c - 2-28 2-16 1 4- 75c ZZZ (quar,)' > ZPhilco 'ZCorpZ/ ZZw.-Z» - ZZ- Zi.z_zi.A_ZZ -ZaaZZ. ;:V 25c General Telephone The dividends announced this week are: • ___________________ ——_-iZ—Zi______ (The) ; 3-30 $1.183/4 ZZ - Corporation $2,50 Z Permutit * (quar.j—j— — . Extra 1 Shareholdings Corp.— $6 convertible preferred (accum.) declared. , tl5c f $1.25 & Coke Co Peoples Gas Light 3-20 3- General given tinder the company name in our "General Corporation and Investment News Department" in the week when S' ' 3-20 1 Planter General American Transportation (quar.) General Baking Co., $8 preferred (quar.)._ ord of past dividend payments in many cases are ' (quar.)_ com. ______________________ Proof Rust 3-30 $1.75 $1.50 ■ which we show til© dividends previously announced, but which have not yet been paid. Further details and rec¬ , (quar.) (quar.) 3-15 37 ... —.... common preferred Parker 1 first we bring together all the dividends announced the current week. Then we follow with a second table in . 1 (Chicago)— Foremost; Dairies, Inc., common. 6V0 preferred IZ. Z——1!-Z Fort Wayne & Jackson RR.,Co.— Wk preferred (s-a) ___.i_ ' DIVIDENDS / 1 > (initial quar.) _.ZZZ— preferred Fair $2.50 §In Volume 162. grouped in two separate tables. preferred Mills 4- Package Machinery Corp./._Z_________/.z Pantepec Oil Co. of Venezuela is-ai 2-28 Z 44- ..Gabriel .Co. are : ' 3-12 Z 3-15 & —___ Dividends 3- 75c Controller • <■ 4-Zl •: 28c Food §2862 697 §3241 1 Mar —Apr $$1,20 (initial) —Z * com. new Quarterly Flambeau Paper Co., 8% Florida Public Utility-?- 822 823 ■ 2-26 V 2-25 9 3 3/4 c _____ Power, & of Rec. 3-25 / (quaf.) Light Heat Pacific ; 20c Mfg.'__————_ZZ_._7 First 42490 822 1 Trust— Fanny Farmer Candy Shops 469 !</' Stores, participating Electric Texas Power & Union Compress & Warehouse Co., 5% bonds, dated 1944_Mar United Air Lines, Inc., 4'/a% cumul. conv. pfd. stock.-Apr United Light & Rys. 7 5 '/o r 3-15 3-11 :./Z 20c —4 12-31 ■. Empire District Electric Co, (quar.) ...I.Z.Z' English Electric Co. of Canada, Ltd.— $3 non-cum. Class A (quar.) _IZ §2862 Light Co.— feold debentures bonds, series A, due 2022:——July 1, '47 Toronto Elevators, Ltd., '514% preference stock Mar 7 (quar.) Co.— Investment - Bros. 4 V* r/c ■'//' j §1930 G% Chemical & 2-15 25c 7 — Lines, Inc.— Hotiert Payable 65c _______ Co.— (now 1st mtge.) —.' 1958 :. . (quar.) Greyhound When Share , (increased). . 821 822 — Southern Union Gas Co,, 6 % debentures due 1967-V--i-Peh '23 A ' ' - preferred Co., Gas preferred $3.75 ' ' Schulte Natural Northern 2-14 Z//3-' 1 25c Per Name of Company of Reo. , 7 2-28 $93c Co, (increased) —HZ__Z-^.ZiiLiZ'j Manufacturing Co.ii—___Z_—______ Pepper Hoiaert When Payable 15c Oil Dominguez /'-'• , Share Fields (monthly) __Z__ Dominion Tar & Chemical, Vh'k prefer red— 820 1 1954____Mar Corp./zlstZmtge.Z5%s, due Vy' ' ( ' > Mat Nome 0/ Company -' 820 660 1.. ' ,< 1952_-:.— Z Page c;. i :i / 941 Ltd.-f- (quar.)_A_—____: Stores, Inc., common-,*:-*-___' Hat -•Preferred (quar.) Wnen Payable Z!>;:4- Holder* of Rec, 1 3-10 3-15 ?-20 12VzC 4- 1 2-15 31V4C 4- 1 2-15 $30c 3- 1 1-31 $$1.75 4- 1 2-2S $$1.25 A-—-:"• Agnew-Surpass Shoe Stores, Ltd.; com. (quar.) 7% preferred (quar. i Agricultural Insurance (Watertowm, N. Y.)— / Quarterly Air Associates, Inc. (quar.)—__—-.• t $25c (quar.) preferred Per Share '/.'• 75C 4- 1 3-15 :: 20c 3- 8 2-28' : THE COMMERCIAL & FINANCIAL CHRONICLE 942 fe; fe ' ■/•' ■ : . Her • feyVfefe Name of Company Extra a Allied Laboratories, Allied Stores Aluminum 67a American Arch American Automobile (St. Co.- Shares Business 20c .1*® $1.50 30c . ———————- Crystal Sugar, 6% pfd. (quar.) American Factors, Ltd. • (quar.). American & Foreign Power Co., Inc.—> , — ^ . « Indemnity Investment Co. American Metal Ltd.* 6% Co.— Co., (quar.) preferred (quar.) ; News American Phenolic American Public • « $1.50 > pfd. 7% Common 7 7a i— American Stores . . Co. (quar.)—— Co. ; Bullock's, Bunker — — . 2-28: 5 3- 2-14* 2* ■ I California 2-19 5%% 2-19 2-21 2-8 (111.)—> conv. — ■ , Line Atlantic Ccast Atlantic Refining RR lr ,., 57o 2-21 Atlas Tack Aunor :'J. Corp. Gold Mines Autocar Company, 57c conv. preferred "B" (quar.) 57a Auto Gear Works $1.65 Automatic Products Avondale Mills, common - 5* 2- 9 7-5 3-30 3- 4 3- 1 :.'; "2- 8 preferred (quar.)— : m 2-11 3-15 3-30 3-30 Banco de Los Andes— Vinegars^ 15c 1 1 57o $25c 3- 1 3- 1 2- $$1 3- Ltd.— 50c 3- 8 3- 28c 3-14 50C 4- — T— , — common (quar,).—- Tractor Co. 4- 4- 1 4- 1 17 Ac Light & Power Co. (initial) 3- 5 2-15 $1.50 3-15 2-20 Products $6 3-15 2-15 3- 1 2-13 prior 35c Co 2-15 laccum.) $5.14 3-20 2-28 (accum.) $6 ,3-20 2-28 15c Inc.. - fe.—. 25c Champion Paper & Fibre Co., com. (quar.). 2-14 ^ Extra fe! 2-15 | fe National Chase '(quar.) • Bank Chestnut Hill RR. $1.12% ———————-4 (quar.) Co. 2-20 1 3-13 (quar.).— - v 2-14 Chickasha 2-15 Chile Cotton Oil Copper Cincinnati * Bankers Trust Barber-Ellis Extra: Co. Co. —- (N, of Y.) :Canada 29c 45c (increased)*. (quar.) —A.—— ■ Barlow & Seelig Manufacturing Co,—• $1.20 class A 4- 1 $12y2C $12%c ■ 2* 2-20 S 57a 8 57a 3- 9 5% 2-28 3-15 3-13 Circle 2-28 $1.25 4-15 3-22 25c 3- 1 4-15 2-26 2-8 3- 67a 3- 6 50c 2-15 Extra '< • —— ■' Extra 7% Bell —.——:———-^..2-——^—_> preferred & $$1 Howell Co., common—. (quar.)— Belleterre Quebec Mines (interim) Berkshire Fine Spinning Associates— 4%% 3- $10c 3-15 Black Hills - Bliss & 57a & convertible Inc., Bohack preferred common Co. 3- 6 1 2-19 25c 3- 1 3- 1 3- 1 3- 2 2- 16'Ac 3- 1 75c 3- 1 2-15 — $$1.75 4-15 3-20 2-12 3- ; 3- — 50c 3- 1 40c 3- 8 3- 8 3-11 ...Z.I. fey ioc (initial] 18 9/10c 4- 4 Hose & (quar.)—.— (quar.)———— 2-15 3- 1 2-15 $2.75 convertible preferred 3-30 3-20 $2.75 convertible preferred 37»Ac % 3-30 fe r 3-20 1 2-25 Commoil, 3-25 Commonwealth 3- $1.50 Compo ■; 3- 1 a- 9 2-15 2-14 / Co. (quar.) 3-"l Conn 2 2-15 Connecticut Light 1 3-19 2-15 v 2-25 2-13 Connecticut Power 2-20 1-31 Connecticut River 50c 3-20 3- Consolidated Biscuit Co. Consolidated Cigar Corp. 3-11 Consolidated Edison Co. (N. Y.) Consolidated Gas Utilities Corp. 3- 1 4-15 2-15 4- 1 :* : 4-5 -'26 4-5 -26 7d 4-5 -26 4-5 •26 2%% ; ? — $1.50 quar.)— 25c 6-10 Consolidated Water Power & Paper Co.-^- 3-15 ■28 Container Corp. X (quar.) of America (increased) 3- I 3-23 3- 1 25c 3- 1 2-18 3- 1 2- 3- 2-14 2-il 3-20 $1.50 6-20 $1.50 9-30 * 40c 2-28 2-20 3-31 3-15 3- $1.75 2- 2-18 1 5 _ 3- 20c 2-10 2-15 2-20 2-13 1 2-14 0- X 5-17 9- 1 8-16 12- 1 11-15 4-15 1 3-14 3- 1 2-11 3' 25c 3-14 4- 250 3-14 4-H ~fe 25c 1 2-11 2-16 3-1 45C 2- 1 1-28 25C 2-27 2-13 2-20 ! 32!50 fe 25c 4- 1 3-30 fe 3-16 3-30 fe 25c Warehouse (quaf,)..i. Welder 2-15 3-JL fe 3- 25c Corp. 6 3-16 3- 1-31 1 |3- 1 | 1-3} 3-1 2-10 $1.50 (stock 3-22 100% dividend) 3-12 30c "3-11 15C 3-15 2-13 fe; 15C 3-15 2-1$ (quar.). of Amer, at Bait., cl. A (quar.) 3-1 - 11.12% 3- 1 2-i$ 106 3- 1 2-15 3- 2-15 !i5c yfe $1 3-11 2-25 3-15 3- to $1 General fe ; 15c Stores (quar.)_-— Dredge & Dock Co.— t 1% Cigar Co., preferred common 4- 1 3-] 3-15 37 Ac 7- 1 63-15 37 Ac - : ■ 3% 7c conv. preferred • " 3- 4 9-16 fe 2-15 2-18 3-1 'fe 6-1 30c 25C / 4-15 3-15 25c 2-14 3- 2 2-1^ 25c -:i -8-25 5-1Q 30C 'fe 5-25 5-10 3-11 2-27 4-1 3-2d $1.75 • ........ ; : . fe 10- 1 62 Ac ' :.wfe. • preferred A (s-a)^ fe- 6% preferred B (s-a) General Fireproofing Co.< 1% preferred (quar.) General Mills, Inc.— 1 37 Ac (quar.)__._..ife (quar.) General Finance Corp.— 2-12 5 2-26 2-15 1 2-25 60c (quar. 5% 2- 2-26 3-15 3- 2-1$ 9 1-25 9-20 3-15 $6 $20C Trailer Co. (new) (initial)... Fulton Iron Works Co., 6 7c non-cum. pfd v $50c — 6-20 12-9 12-21, Fruehauf 1 2-27 fe 2-il 1 2-15 $50p 3-15 2-28 3-1 1 1 1 3-20 :i25c 8 3- 2-25 t-3 4-14 75C Flintkote Co., 2-15 3- 25p . fe - 3-10 common (quar.b.-. $4 preferred (quar.) Foster-Wheeler Corp., 67a pfd. (quar.)..--. 67o preferred (quar.)— j. fe: 6% preferred (quar.)—: Freeport Sulphur Co. (quar.)..,— 5 2-15 3-15 50c $$1 2- 1 3- .4- Extra.1 Quarterly 3-15 J2Ac Quarterly Ltd. 3- 2- -3iy4C Glass, ■ 5c 2- 5 3-30 " ■23 v fe: 3- 1 3-22 3-15 —fe I - 3-21 1 1 ........... Class B ( quar. Firestone Tire & Rubber Co.—~ 4Vi7o preferred (quar. Firth Carpet Co. (initial). Fishman (M. H.) Co., Inc.— 3-10 3-15 Consolidated Vultee Aircraft, $1.25 conv. pfd. 3-6 4- 3- 1 2-18 1 3- iiciuiU Finance Co. 50c — Consumers L Federal Machine & 40c —_ (quar.)—' (increased) Consolidated. Laundries Corp. (quar.)Consolidated Paper Co. (quar.)— ,'fe. Consolidated Paper Co., Ltd. (initial) 8% — (increased)— 7d lOd - : fe 1 4- 25c Fitz Simons & Connell 456'Ac : & Co. Federal-Mogul 9-10 55c fe (quar.) 3- 4- 3-1 .....——fe... — 2-15 ; 12-10 $1.75 2-15 3-30 Co. (quar.).fe.! 2-15 6-15 1 $1.50 Federal Light & Traction Co-.— $6 preferred (quar.)—__— 9* 9-15 1-15 3- $1.50 ... 3» 1 / 1-15 1 $1,50 Co. 2- 3-15 60C (increased ■ 2-15 1 2-17 3- $1.50 ... ...... Rubber & Federal Compress :• . 12-15 ——!>; 2-15* 933Ac Tobacco Co,, Ltd.— Ordinary bearer (final) Ordinary registered (interim) Ordinary registered (final) 57a preferred bearer (s-a) (quar.) 2-25 British-American (final) preferred 3-30 35c /fe 2-20 3-15 $1.75 Inc. (quar.) —' (quar.)— -Extra •'.fey. Co.— 2-25 62%c 1 $$1.50 tSl.'so (quar.)— 15c 3-30 6 2- 1 3-1 $1 fez (quar.) (quar.)— Co. 12-31 3- .fe Brewing Corp..—————i---Fansteel Metallurgical— • ■ ■-\ Stock dividend, two for one split _____ /Farmers A Traders Life Insurance, Syracuse Quarterly Federal Bake Shops (quar.) —. 3-15 fefefe; $$1.50 prior preferred & Power— Power Hose 3- 1 fe; $$1.50 $1.50 .... Brewing Corp. ; Bristol-Myers Corp., new com. (initial) 33/a7a participating preferred (quar.) Packers preferred 2-25 3- 1 Falstaff (Toronto)— (G. C.) Ltd., 7% preferred 2-15 Fajardo Sugar Co, of Pojto Rico (reduced). Co. -(quar.)__._ 9 2- $$1.50 4- 3- 1 Steel 2-25 62 %e 1 3-12 $2.20 3- $1.25 40c fe 1-31 $87yac (quar.) ' — 16c Ltd.— (quar!)—I Quarterly Quarterly 6% 9c preferred!!!!! $2.50 fe, 50c Inc. (quar.) : of America (quar.) Columbia Quarterly Quarterly fe 3- 8 ; /- ■ Co., $5 pfd; Internacional (quar.) Confederation Life Association $2.40 3-18 3- ; 2-15 25%c (J inal)___„___ Tel. 50c —. 683Ac /—; Machinery 40c Z. ; receipts Shoe 2-15 $%c 50c iw (accum.) —$3.50 r~: — (quar.)_ Ltd. Compania Swift "; Airways, deposit Commodity Corp. 3-30 30c , —.... Bower Roller Bearing Co.... Brandon Corp., class A— Celanese, Columbia Gas & Electric Corp..: Columbia Pictures Corp., $4.25 pfd. 1 : Rubber 2-111 3- 75c Ltd.— 77a 1st pfd. (increased) fe — ^ 62%c 2-1 2-23 Fall River Gas Works 2-21 <6-a)—fe— 3-1 $30c Extra 2-21 40c Brewing Co. $$1.25 2-15 2-18 1 Columbia Broadcasting System, Inc., Class A /Class B——*.———w.fe..—fe.fe/ 1 3- 9 3- I 2-15 ...... 1 2-14 2-11. 3- 1 3- 4- 2-15 2-18 1 3-15 1st preferred 57o preferred Fairbanks Morse 3- , 3-26 Ac 62 3- 5 3-25 .--/ 50c . pfd. (initial) Colorado Milling & Elevator, common-—___ r:i., 25c common 8-21 2-19 3iyic 3J.y«c 57a $3 conv. preferred (auar.i 77o preferred (quar.) 1 1 $3 2-19 $1.25 — Columbia Manufacturing Co Fund, Inc. (quar.) British 3- 3-30 25c 3- Boston American 87%c " 35yac 9 3 , Colonial Stores, Inc., common (quar.)..— 4% preferred (quar.) fe — 25c Borg-Warner Corp. — British 2-11 1 2-20 —— (H. C.), Borden Braniff 2-11 3- 2-20 common. Brewing Co., Woven fe 3-1 Colorado Fuel & Iron, 2-20 1- — 50c 87 Ac 2-11 B -(resumed).. $28c 2-28 (Sidney) & Co., com." (quar,)—V>v- 20c«X 3- 1 preferred _—;———«'— $1.75 ; 4- 1 Boston • 2-21 Class Boss 3-15 4- :* fe¬ 4-1 3-1 Blumenthal 77a (quar!)——1. fe 3-15 1 1 preferred (s-a). preferred (s-a)———.. Co., in cash Top 4- 3-15 —— 75c $1.12A $1.12% / preferred 7 3- 2-20 - 2-11 3- 1 67a preferred (quar.) Ridge Corp., $3 conv. pfd. (optional) Payable in. l/32nd share of common stock or 2-11 (quar.)^ 30c —$1.25 com. Blue Blue ; ; 5c Light, conv. Laughlin, Bloch Tobacco 1 3--iv/ 60c com Extra convertible 2- $0,141 split one (quar.) Park Place 11 3-4 $1.50 Co. convertible Bliss 3- - fe 10c (initial)..... 25C Elgin National Watch (quar.) Ely & Walker Dry Goods, common (quar,)i. fefe!; 25o Empire & Bay State Telephone— 4% guaranteed (quar,).. ,fefefemfe. $1.25 Empire District Elec. Co.. 57a pfd. (quar.). Equitable Life Insurance Co.- of Canada— $30c ./ Increased * ...T— Equity Corp., $3 conv. preferred (accum.).. '/fefe 75c Erie Railroad Co.; $5 pfd. A (quar.) $1.25 $1.25 $5 preferred A (quar.)..!... ; $1.25 $5 preferred A (quar.). $1.25 $5 preferred A (quar.)_. ..fe.! 30c Eversharp, Inc., common (quar.)..^.^*.. 2-15 15c Power (E. W.), 5% 67a 3- $1.25 Illuminating Co., 4-13 preferred (quar.)...— preferred (quar.) Electric 8-15 2-15 $1.50 ... $4.50 preferred (quar.). Cleveland & Pittsburgh RR. Co.— 47o special gtd. (quar.). 7 7c guaranteed (quar.) fe Colgate-Palmoiive-Peet Co., $3.50 pfd. (quar.) Collins & Aikman Corp., common— 5% — 57a preferred (quar.) Blackhawk Brewing Co.~ Blaw-Knox ' 2-15 — preferred (quar.). $1.25 Steel Corp., common $1.50 preferred (quar.)—$1.75 Billings 4c Spencer Co.——— 10c Birmingham Water Woyks Co.— (quar.) 2-15 2-15 17o preferred fe 3-1 Bethlehem 67a 1 " $1.06% convertible $5 1-31 fe 2-28 3- 12'Ac preferred 1 4-1 $$2 (quar.)—$$1.75 Electric 1 Products, new (initial) Eaton Manufacturing Co. (quar.) El Paso Natural Gas Co.. (quar.) 17a preferred (quar.)...—....— ' 2-28 4-1 93- fe Cleveland 5- preferred Eastern 5-15 6- $15c —— City Water Co. of Chattanooga— 57c preferred (quar.) —— Belding-Corticelli, Ltd., common (quar.)_ $1.25 $1.25 :%5o ... City of New Castle Water Co.— 67a preferred (quar.) 2-16 (quar.) 30c 3-1 Barnsdall Oil Co. (quar.)—20c 2-15 3- 9 Bath Iron Works Corp. (quar*.)^ 3-15 $1 4- 1 Bathurst Ppwer 8c Paper class A (quar.) 1-31 $25c 3-1. Beaunit Mills, Inc.^_-i. —i.. fe: 2-15 ;■ 50c■ ^'3- 1 Belden Manufacturing Co. (quar.) 30c 3-1 2-18 $1.25 8 2- 8 8-12 3-15 67o 1st pfd. (quar.) (clears all arrears)^. \_ Pacific preferred (quar.)!.—^fe.——fe——fepreferred (quar.) preferred!, (quar.) Bar Knitting, Ltd., common (quar.). 2■/ Jlastern Massachusetts Street Ry,— 2-20 25o — ... for Quarterly ......— Quarterly t Quarterly ;;-:fe_„..w.-.— 3-14 pfd. A__ Texas & Co., A two ■■ ' (interim) shares American 67a 17a 2-l§ 3-29 (quar.)——— Orleans 1 3 t$1.25 Eastern Magnesia Talc Co., 2-20 3- 62 %C Co.— New 4 3-. 1 — preferred (accum.) Chicago & North Western Ry., 57a Chicago Yellow Cab (quar.).. 39- I55AC (quar.) East St. Louis & Interurban Water Co.-4 4-12* 5-1 75c 5% 2-15 4- 40c 750 Chicago Corp., $3 preferred (quar.) Chicago Great Western Railw»ay Co.—■ 2-15 75c 75c East/Coast Public Service Co— 2-20 3-11 25c — 1 2- 9 fe 3-11 6 8- 6 2-21 8 3-1 37 Ac (s-a) 5- 8-15 , 2-25 , preferred $4.50 fe 2- 8 i; ^ ... 3- 3-15 , , 25c 6 2-15 5-15 —» ' preferred Century Ribbon Mills, Chain ..Belt Co...—— 2-21 % preferred 1 3- / 50c ■■ 2-20 3- 1 fe $1.50 $1.50 prefet/ed initial initial prior $7 600 —.i..... Co. dividend, Cup 57a 2-15 1 3- $75c (quar.) Ltd.— $50c (accum.) $20c Dominion Stores, Ltd. (quar.) $25c Donnacona Paper Co., Ltd. Class A .fe..^., $25c Class B ,fe.»ife————fei**.-" Douglas (W. L.) Shoe Co.— fe 50C $1 conv. prior preferred 15c Dow Drug Co., common (quar.) 17a $1.75 preferred (quar.)....... 50c Dravo Corp., 4% preferred (initial quar.).. Dresser Industries, Inc.— 93 %e 3% 7c preferred (quar.) fe 60C Dun & Bradstreet, Inc., common 4 V2 7o preferred (quar.).. .fe^fefefefe*fe' $1.12 A $1.25 Duquesne Light Co., 57a 1st pfd. (quar.)rrf 2-15 3* X —.fe— ; conv. pfd. (quar.) Burlap Co.__ Steel 30c 67c 1st redeemable preference Dominion-Scottish Investments, 3-12 $1.25 Ohio 2- 50c (quar. (Western), Ltd., 7% preferred Dominion Fabrics, Ltd.— 3-12 2-28 fefe-75c (quar.) .. 3- Central 2-26 Anglo Investment Corp., Ltd.— 57a preferred (quar.) Dominion Bridge Co./Ltd. (quar.)__..^ Dominion Envelope & Cartons 3-15 1 40c 3-15 & 2- 3-20 2-20 Corp.— Class 3-15 30c Bag Alkali 3-1 Dominion & 3-15 $1.75 fe — 10-10 ,/v;: $1 X'fe 35c ■ participating Dixie ____ 1 600 ... preferred Stock 1 4-1 .$1.50 .a— ——fe-;.— (quar.) 9 7-10 35c ■, Co., common (quar.) — participating preferred (s-a)..^.-^-.. Divco 1 2-15 preferred Wt'WVIWf Wm - . Corp.-Seagrams, com. preferred (quar.) Ltd.— American deposit receipts 2-28 $$5 preferred B (quar.) (J. I.) Co., common_ 1 57c 2-15 A 2- 4-10 Distillers Co., 2-15 Carthage Mills, 6% preferred * Distillers 2-28 Trust, 2- 1 -3-/1- (quar.)_..i._... (quar.) & Gas Diamond 2-15 3- Investment Co. DetraioMichigan stove Co.— 57« preferred (quar. Central & South West Utilities Co.— 2-26. 3- 1 - 3- Class' A (quar. Int'l 3- 1 $17 Ac 25c " preferred Electric Corp....—. Detroit Gasket & Mfg., 67c pfd. (quar.) 12-31 3-15 8 2-18 ; 25c 67c $25c 3- 3-1 t37Ac —■ 67a common....—...^ Products, 75c fe $1.75 Diamond Match $12 Ac 6-18 ^ " 17c Co., & Derby Co., Ltd.— (quar.)^__..._.^_ 3-18 2-21 .,83c — , Quarterly 2-28 1 8 $1.75 Delaware & Hudson 2-15 I 1 1-25 ; 1 4- 2-14' 2-28 $1.75 Deere 3-20 3- 1 ' 3-1 3-1 fe (quar.) 3- 8 1 Ltd. 2-21* 3-15 $1.75 (quar.)...—— 250 2-15 3- ; 2-15 3-1 3-15 : ' 9 preferred iaccum.) 67c preferred (accum.)————————— Central Ohio Light & Power— ''fe fe "-'fe' $6 preferred (quar.)..... 3-18 2-15 2- 1 preferred ' -Class < B(quar^') Decker (Alfred) & Cohn (quar. - 3-10 3- 3-15 2-13 2-22 $50c (quar.) (quar.)..— 5* $2 febavis Leather, Ltd., class A (quar.)..,—... 3-9 $20c Co., Ltd. $6 3-11 2- 2 2 3-20 1 1 2- 3- 2-13 , 1 4- (accum.)— $$1,62A pfd. 23- 2-19 50c m (quar.) preferred (quar.) preferred (quar. )fefefe^feifefei^fefe4!fe»fe Press, 4 '/a 7o preferred... Curtis Publishing |. Co,— $4 prior preferrd (quar.) Cushman's Sons, Inc., 77a preferred (quar.) 2-26 4- (quar.) $$1.12% —$62Ao pfd. .i.'—...... 1 3-15 77a 2-15 3-12 25c , 3- 1 Central Foundry Co., 57a Central Illinois Public Service Co.— 2-18 3- 1 5c 3- 1 25C 93 %C ,fe 77a 3-"l 50c 2-15 $1.05 3-15 3- 3-15 3-30 / t$1.25 / common Cuneo 2-15* 1 2-15 3-22 Cuban American Sugar Co.— 5 3-15 partic. Central 3-12 2- 4A7o Dominion Sugar Caterpillar 3-15. fe 2- 3- 2-15 fe $1 2-18 67a 3-15 3-11 A 1 3- 50c 50C Co.— 4-25 7 7<j 3-1 - 150 93c _.v Insur. 3-15', $1.05 ' 3- & $15o $15c $25o Case 4-1 3-1 3-15 3-30 3-1 3- 1 fe' 3-1 3- 2 3-15 35c 1-31 . 50c preferred (accum; Canadian Locomotive, Ltd.— 2-11 3- 1 3- 3-15 ; Zellerbach Corp., $4.20 pfd. 77o 1 3-15 2-15 (quar.)... 1-31 $1.75 57o 2-18 — 1-31 1 $2 class A preferred (quar.)— Carpenter Steel (interim)..: Carrier Corp., AVa7o preferred 2-18 fe 2-11 3-1 3-1 5c 1-31 1 1. Carman & Co., Inc., class B (irreg.)—, 3-11 3- 1 & Canadian ; 2-11. 3- 1 Co., Ltd., (quar.) Canadian Food fe 6-22 3-1 — 1 3- (quar.) common Canadian Fairbanks-Morse 9 41 %c pfd, (s-a) 3- $1 i Canadian Celanese, 5* 3- rS; 3- 1 — Baldwin Locomotive Works, 77a Radio Show, Inc Baltimore 67a Bread $2.10 2-16 ! $1' .3-13 37%c 7*3-182 fe '7 75c ,3-1 Corp. (quar.) 3- 15c preferred...—.^......—. $281/10c Ltd.— $$1 Funding rights (year end) 2-28 25c (quar.)« 20C $1.12 % ;.fe:' Seal, 61 preferred $2 2-15 (initial) Co. Canadian Breweries. Ltd. Canadian Car & Foundry 3-20 10c pfd. 4 > Life Cement, Ltd., 6A7o Canada 2- 8 :• 25c _ conv. 3- Malting Co., Ltd. Canada Northern Power Corp., Ltd.— Common (quar.).. 6-22 /fey 50C/// 2-28 y>fe'$5c V:fe3- 1 — !———_ "A" pfd. (quar.) (quar;) 350 ... 3-15* '$4 convertible 2nd preferred fquar.) Crum & Fofster 8% preferred (quar.)...... Crum & Forster Insurance Shares Corp.—• Crown 2-18 15c Co., •Canada 2-15 3- Forge class B Canada 2-18 7- 5 75c 2-28 y Canada , --V/' Co. :(quar.) Atlas Corp., 67a preferred (quar.)— Atlas Powder Co._—.i—^ 2- Phosphate Co.__i. Cork Crown 2-u; 3- S 2-25* ; Corrugated Paper Box Co., Ltd.— 2-11 1 25c (quar.) States 3- of Reo. 25c 's' 3-15 ' 993Ac ■/fe 4- 1 (Interim).. com. 57a preferred (quar.)-.-.^...^^..^../.^.^ Crane Co., 3% 7« preferred (quar.) 1-29 3-4 35C \3- I Campbell Wyant & Cannon Foundry.—_ ' prior preferred, (accum.)——„_ $1.50 Artloom Corp. (quar.)>-—— 10c Ashland Oil & Refining, 4%7c pfd. (quar.)_ $1.06'A Common (quar.) 10c Associated Dry Goods Corp., com. (increased) 45c 67a 1st preferred (quar,)—.————, $1.50 1% 2nd preferred (quar.)———i...—» fe'fe $1.75 Atchison, Topeka & Santa Fe Ry. Co., cotp. $1.50 $6 1-29 10c Extra 2-28 X 2- Power Central Arizona (quar.)—.. 2-11 $1 convertible prior preferred Camden , 2- 9. 15c 15c 2-15 3-4 Inc., (quar.). preferred Coronet ■ 3-va 3-1 Elec, Mills California-Western Arkansas Fuel Oil Co.— ——— 1 2-28 V Co., 1%. preferred (quar.).... Cotton California 2-11 3-1 • 3- 12 Ac Butler Water 2-28 12 %C (increased quar.) •*.: 3-14 3-11 . 40c Concen^2' • 6- 1 : (quar.) — Arkansas Natural Gas, 6% pfd, & 2-15 20o : (reduced)—— Mining i.; .. 7- 1 2-28. 3-28 3-15 4-1 4- 2 4- 2 3- 1 Co.," common——i—25c $3 participating preferred (quar.)———•,— 75c Participating:-; 6'Ac Argus Corp., Ltd.— 4A% conv. preference (initial quan)— $$1.12% Arizona Power Co., $3.75 preferred (quar.)— 993Ac. preferred 2-25 Angeles) com. * 2-15* 1 preferred Holieri Payable 4334o !V 3-1 (quar.).. fefefe^fefefefefefefefefefe:: Continental Tel. Co., 6 VaVc $1.62 A •;fe-4-1 pfd. (quar.)__ $1.75 «C'4*. 1 77o partic. preferred (quar.)____ fe ; 20c -fe:;fe3*;i;: Cook Paint & Varnish Co., common (quar.) 3- 1 Tfefe 75c $3 prior preferred (quar.) -fe 3-12 200 Cornell-Dubiller Electric Corp., common—. 4-15 v $1.31 >/4 $5.25 preferred (quar.)— fefe',7-%'- 2-21 3- Share Name 0/ Company • Continental Commercial Corp.-— 1 3-15 12 %c Sullivan $3.75 1 2- (quar.) Burlington Mills Corp., 2-11 Atden .Farms Armour & Co. (Los 3- ■' Continental Can Co., , 3-20 1 2-15 fe $1.25 (quar.) (quar.) & 4- 20c . ' 67a prior preferred trating- • , 2-18 2-25 3-15 20c — $5 Inc. 3-15 / ; Machine Hill 25c 15c 2-18 ;fe 4 7o preferred (quar.) 3-11 2-19 Burroughs Adding Machine Co. 3- ;1 2-28 ; Burton-Dixie Corp. (quar.).3-15 r 2-15 Bush Terminal Co. (increased) 3- 1 2-15 Butler Brothers, common (increased) 3-1 Extra 3-1 .2^4 fe 4 A 7o preferred (quar. { ;/fe. 3-30 3- 1' 17a preferred (quar.)————— -— $1.75 American Sugar Refining Co.———__—$1.75 American Tobacco, common (quar.) — 75c ■ Common class B__—75c. Extra on common and class B —,25c Amoskeag Co., common (s-a)—— 75c $4.50 preferred (s-a) ———— $2.25 Ampco Metal, Inc. (year-end)— — 10c Armstrong Cork Co., common (interim.)— 25c Anglo-Canadian Telephone Co., CI. A (quar.) $15c Archer-Daniels-Midland '2 ■> 2-15 quar.) Fund, Ltd...,,;.. 5 2- 64c 50c $2 50c 25c Mill— ———— $3 pfd.; participating St. Refining. Co. (quar.)-. American Steamship (quar.) American Steel Foundries (quar.);„ Co., American Smelting (increased Bullock ^2-15ll 60c 25c Rolling American. Service 3-1 . 2-20 / 2-18 3-20 lOo (irreg.)T—— Corp Co. Bolt Canada (quar.) ———$1.75 Railways . , •-—, preferred American American « 3-15 3-12 15c $4.75 (accum.) American Radiator & Standard Sanitary— ■ & 3-1 50c —,—_—35c (quar.)— Coi'p. Die 3- 1 . — Service Buell 3- 1 25c (bi-monthly) Co, G.), 3-1 common——— American Meter Co., Inc.-_^.—■, American (E. 3-15 , Line Budd 3- 1 15c v Pipe fe: 4-19 $1.25 fe, ' "Extra ..$2 —— of Illinois Falls r 3-lt-^; « (monthly)——20c American 1 ; , American V 2- <S-I5 • :—~"... $1.75 Co, (quar.)—12'/aC American Fork & Hoe, common——/-25c ; American General Corp. $2 preferred (quar.) V. 50c y $2.50 preferred (quar.). ——62'/ac .4 $3 preferred (quar.) m 75c American Hide & Leather— ; •;/••'/ ;• -; fe;-, :fey;fe' 67o convertible preferred (quar.) — ; fe. ,75c Products Buckeye • $7 preferred (accum.) American Forging & Socket Home 8 3-14 " t American 2- Hill 4-30 Ltd. Buffalo r II.S0 Caecum.')-^—1 preferred $6 Buck ^2-20,,: 3- 1 ,3-4 rtA' American ? f; $1.02 fe/., fefe: • 2-20 30c J (initial). Mills, 1 (initial).^ com. 3-15* Silk 3- class A new Brunswick-Balke-Coliender Co., com. (quar.) $5 preferred (quar.) 4* 1;; 250 , preferred 2-14 When fe Per fe,. of Re0. Payable $20c Inc., 2-15 -Oo Co. Insurance (quar.)——— Louis) American V 1———- Co., Bruck 3" +$Ljj>0 ———— $3.60 3- 4 *;"fe$ Shoe Share 2-28 2-15 25(5 ■——-fe/ Ltd., common—— preferred (quar.)— Aluminum, Brown & Wire Co., Fence 3-15 3- 84 pfd. 47</ Co., Cement———— —r.-'&M Goods Manufacturing (quar.)—. Portland Name 0/ Company "yfefe ;'fefe''fe:;fefe /' Brown 1-29 4- 1 . $1 (quar,l____-w-./yfe. Manufacturing Allls-Chalmers Alpha pfd. 4% « 3- 4 ' ,.' vy-V' y* •] 1-29 Holder* When Per of Reo. ■ 3- 4 250: /■ , UoUtert When Payable —--V--—12^° Inc.—.w——vr»h+«—- Corp., ' 121/ac Co. (resumed)-- Alaska Juneau Gold Mining ' Bhare Monday, February 18, 1946 , common.. fefe 25C $1.75 . t (quar.)^.......— 84%C 3- TV 2- 8 Volume Number 4465 163 -Per •I $5;, '4 Name of Company 7 "General General .When t Bhart 35- $1.25 ? 25c Outdoor Advertising, common tGeneral Steel Castings— ' ' ">k : $6 preferred (accum.) Tire 'Genesee . ; Rubber & Co Class 25c A— .Gibraltar Fire & Marine Insurance Co. .(s-a) Glidden Co., common I— 4'/a ^ convertible preferred (quar,7 -Globe & Rutgers Fire Insurance 445% 1st preferred (s-a). 5CO : :4 4-20 3- 1 4- I 3-13* 3-13* > 2-15 Co.— - 3- $2 ...—i— ... Steel Tubes— - 7 — ' Gossard (H, W.) Graniteville Co. (quar.)1, 3- 1 2-20 3-15 2-15 25c ——— . 2-15 : _r__'___4- 3- 35c - — 3-114 5- 30c La Lake 4-24 30c 5- 1 30c 8- 1 7-25 30c 48-1 .7-25 . 10c 3-15 2-20 2-18 2- ; , 8 2-18 : Agricultural-; 3-25 Lanston 10- 9-25 1 .10 2-28 >06 2-28 2-15 .05 .07 .12 2-*28 .04 .04 .08 2-28 Electric Equipment .04 .11 .15 2-28 2-15 Food ,02 .05 .07 2-28 2-15 1 Building 4 . Chemical . _ .^Quarterly Admin. General Low ! .08 .10 .01 2-28 .12 '. 2-15 2-15 4.*—— Priced 2-28 2-28 2-15 .10 2-28 '2-15 .12 4 ; 4.04 708 2-28 v2-15 - ( ,04 a-- ;7 Railroad Bond Railroad Equipment -j Railroad Stock .04 .04 - 1 Steel- .06 .04 Tobacco 2-28 tUtilities''/«£—v—,.*444J__ Insurance .05 2-28 Corp. 2-28 2-15 2- 1-31 Hamilton Cotton Co., * 3- 3-1 2-48 ;4% Ltd. $7c ,/■ $22'Ac $22 Vac (quar.)_________ preferred (quar.) — ftancock Oil <Cal,), Class A (quar,: ; Class Y.Y: Hanley ' Co., 1 3-1 3- 87 Vic 1 2-11 3* k 25 c • Common ( 6% (quar.) preferred $1.06 1 2-11 3-12 y* 3- ___ 3- 1 $1.50 — 4-20 Hart-Carter Co., $2 conv. preferred (quar.)4 Haverty Furniture Cos., Inc., corn. (quar.)__ i ;$i;50 ^preferred (quar,)--_.,-.„^„,_ Hawaiian Pineapple Co., Ltd.Glass ■' 250 Electrochemical Co., 3- 1 3- 2-15 44lrI54 2-15 1 15c 2-22 3-29 3-19 4-26 4-16 63c : 2-25 30c 2-26 2-25 2- 3-28 1 3- 2 2- 9 3-1 90c 3-9 2-20 25C 3- 2-11 4—.___—4-——1L--— 82%c Sudson Bay Mining Co. Smelting Co., Ltd.— & (quar.)—_ udson Motor Car $50c 3- 1 1 2-11 3-11 2- 8 10c 3-1 37%C 3-11 Hummel-Ross Fibre Corp., 6% pfd. (quar.)_ 2- ;4'3-iL4 $1.50 15c. 3- 4 2- , 9 2-14 1 2-15 3-1 . 2*15 ' Huntingt.on Water Corp., 6% pfd. (quar.)__ $1.50 Illinois Power Co., 5% conv. Illinois Zinc; Co. (qUar.) - pfd. $1 - (final) ."Preference 2-7 2-20 2-5* 3-30 2-12 4 $15C —— (Sra)—— 3-30 3% 21/2% 3-14 Ordinary . shares Steel k5% 7%% Co.— $4.50 Corp., 6% pfd. Steel Stock 2-11 3-12 ?,.7% preferred International 2- 4 1 2-13 20c 2-28 1-31 of International ,$L50 ; $1.75 Textbook Jantzen — Jeannette Jewel Glass. 7c/o Tea ,iV2r'c (quar.)- Co., Inc., & Jones ■ Laughlin ' & ———— Johnson > 10c ■ . 1 3-15 2-13 -4 2-15 2-15 -3- 1 37 V2C 42-21 1-31 3- $75c ; 1 u 3-1 25c 4-; 1 3- 3- 37 Vic quar.) .3-38 3- 50C (initial 2-15 1 2-21 4% ; $1.25 4 preferred (accum.) common (increased) 5% preferred A Corp., (quar.) 5% preferred B 35c __ 3-20 4 "3- 6 5- 1 4-17 10c 1-15 — - 4 2-28 50c (quar.) 3-15 4- 5 3- 4 $1.25 com. 1 4 -2-25 2-28 $1.06V4 $1.06J/4 (quar.) 3- $15 (s-a)__—— Steel 2-18 3-12 3- l; 3-1 2- l 3- 8 2-19 3-1 2-15 $1.50 3- 4- 1 3- 4 $1.25 4-1 m 3- 4 • 1 3-11 3- 1 ■ 3- Life Insurance 1. ; 1 34- 3- 4- ,5% 3- 8 3-8 8 $4 preferred C (s-a)_ ? ■ 2-20 V 2-16 3-1 .2*16 3-1 ,3- I. preferred $7^preferred 3-15 2-28 l»4c 3-15 25c 3- 1 2-15 $1.25 3-1 .'•2-,$'5 .3-1 2-8 4-1 ,4-1-46 2-22 2-16 3-15 . i 4-1 3- 1 2- 9 $2.25 6-1 5-10 6- 1 5-10 6-1 5-10 3-15 3-16 3- 2-27 $4 I Acme Co. Biscuit pfd. A National lanen : 2-19 3- 1 2-21 2- 7 2- 4-15 2- 25c 3-11 '4 25c ;'"V..32c com; - Treating Co Machinery - 4-20 7-22 10-22 3-JL 2-18 3-15 2-15 3-1 2-15 25c 3- 1 (quar.). !2-19 3-15 6% 1. 3- V 1 3- 9 3- 1 2-15 3- 1 2-15 2-20 2-21 2-14 4 2-21 2-14 3-11 •Si 2- 4 ;; :'\3*-i ; 3- 2-19 1 ,2-19 4 3-1 4 2-15 4-1 3-15 3-11 2-8 3-1 2-12 3-15 2-20 3-15 2-20 3- 5, 3- 1 3-15 1 2-26 3-1 1-25 4- 3- 1 ' 7, 2- 1. 5- 7 4.-2- 9' 2-25 3-30 3-20 2-19 , 3-20 2-19 2-25 2- 5 2-18 2-26 1 2-15 . U 2-26 5-31 2-19 , 5-25 ;' 6-15 , - 4- -40c 62%c 5 ,43-15:"' ' .3-14 ; 2-28 '-';-.4':' 4 — 50c ,Y.)— , Electric 1-25 i 2-20 ? 3- 1 2-20 4 3-15 2-28 3-15 2-28 i . , $$1.75 V'.v'.li . ^ 8 1 3- ,$1,37 Va $$1 *lc $2 10c 25c 5-io 4-10 3- 1 2-16 3- 1 2-15 3-8 ' 1-28 vOc 4- 1 3-15 $1-10 3- 1 •2* i . • . 2-28 33V3 % " Co., 2-13 2- 1 4.4 Corp, Corp. (quar.) Co., 5% preferred 2-13 2-25 ,31 3- 2-25 10c 25c —— Mulliken 3-15 1 3-29 ®2C :■ * —.—r — dividend 4- 31 ——— 4 (quar.)— W a 3L75 $1 3-15 1 ,3-15 3-1 2-28 4- $1.50 . 3-1 , ;4;$LpO . 2-20 3-9 $1.75 $0c 25c 2-21 2-20 2-11 1 2-18 ... , • 25c 40c 25c , n $1-$° 30c 25c 25c com. (quar.)——-— 2-11 ;;;4.4«'::'l •/; $1.25 — (s-a)-..-. 2- 1 1 3- 20c $1'4° ; 4 3- 3-29 3- 3-12 8 2-21 43- 1 2-11 4:4- 1 3-1 4> 4-1 3": 1 4:3-31 3- 1 3-31 3- 1 4: 3- 1 2-15 3- 1 2-11 ,3- 1 3—1 50c 4,3- 1 - Joe; 4-15 --44 a-*1 4 3- 1 1 7-31 2-15 3-25 3- 6 5-15- 5- 6 - Electric preferred Pratt Corp Power, 5%% (quar.) ■ 2-11 2- 1 2- 7- 4- 1 2-15 2-25 2-20 2-1 4- 1 3-15 3- 1 2-20 3-.1 2-15 ,3- 1 2-15 3- 1 2-15 5-1 '5- 1 Proprietary (quar.) Mines, ——- 2- 5 5 Prosperity Co., Inc., 5% Provincial Transport Co. 1 2-15 3- 1 2-15 4-15 3-20 4-15 3-20 3- 1 2-19 3- 8 2- 8 $1.25 4-15 4- preferred (quar.)— (s-a) 5 120c 2-27 2- 8 , cft $$1.50 $75c $2^50 $5c Ltd._— 2-14 2- ,3- (quar.X,. $1.37Va $!•?"; —^—;— of Food Co. - .6- 8 - ' . . Canada, Ltd.— 4i " 6% 1st preferred (quar.) —— 6 %non-cum. partic. pfd. (quar.)— Power 3- 2 2-25 -4 2-25 2-13 3-11 * Potomac -: 8-15 2-25 '■ 2-13 ' 9 . 2-25 3-1 3- 2-15 9 3- (quar.) Photo Engravers &* Electrotypers, Ltd. (s-a )■.;.. +50c Piper Aircraft, 60c conv.. preferred——_ :. ;. 14c Pitney-Bowes, Inc. (quar.)-—, 10c,, Pittsburgh Bessemer & Lake Erie RR.^ (s-a) Pittsburgh Coke & Chemical Co.— $5 preferred (quar.) 7'.'"," 7 * 1 Pittsburgh Steel, 5%% prior pfd. (accum.) $1.37 A Poor & Co., $1.50 class A preL-Jquar.)37 Ac Class B .(increased)—— Potomac Edison Co., 6% preferred—. $1.50 7% preferred 9* 10-30 3- 1 1 ' 2-28 ? 3-15 $2.50 — $44preferred 9* 2- 25<;a (quar.) .-4 „■ (s-a) preferred 6% 2-18 . 8-1 $1.12»/a $1.75 >$1.25 $1 25c National Tea Co., 414% pfd. (quar.)—— 53V8C Common (increased) 20c National .Union Fire Insurance Co. (s-a)^__ $1.50 4 Extra ; ~'vM.YY $1 & National Rubber '2- 8 3-1 >3-11 ;2-28 5- 1 3-10 40q Phillips Petroleum Co. (quar.).————. Pillsbury Mills, Inc.* common (qua,r.)——— 8 $3.50 National Oats Co. (irreg.) National Paper & Type Co.— 5% preferred (s-a) National Pole 3- 20c $7 ^preferred (s-a) a$5 preferred (s-a) - 2-15 $1.06 ,-35c- ■ 11- 11-15 8 3-15 40c '' (quar.) $1 preference common (quar.)— Philadelphia Suburban Transportation Co— Philadelphia Suburban Water Co., common 3-8 2-28 5 2-5 8-1 $1,75 a-. — Philadelphia 8 3-1 30c ,, 4 .2-15 $3.50 Corp., (accum.) — <;$5, preferred (quar.)——T———r $6 preferred (quar.)-a.—— - ".2-15 3-.1, J_2c " C* 2c Service Interim. Philadelphia 2-19 $1.75 ' — _i__ Co., $4.50 pfd. tquar.)— Co., 7% pfd. A (quar.) National 1, 15c Co.___ National Department Stores, .6% .preferredNational Electric Welding (quar.) Lead 3- 50c Container National $l $1 (quar.) Corp.v (Del.) National Cylinder Gas (Del.) (quar.)______ W:AVt% preferred (quar.)___ National Dairy Products (quar.) — -.: . , ' (quar.) ■ preferred (quar.T— Pictures, Inc. (quar.) Phelps-Dodge 3-1 ,50c Fibers Quarterly Quarterly National Gypsum • -•< $13-1* (quar.)—, (quar.) (quar.) Pfaudler Co.,, 6% /prefei$^d,(q^ar,)_.——-4; Pfeiffer Brewing Co.. ; . Co., common preferred 8*15 3-15 5 2- 5- 25c... 4 . $2 (quar.) Automotive National . 5 2- 2- • Pettibone 3^15 45-15 ——— National 2-15 3-3 5 2- 2-15 , Co.—•__4 Pennsylvania State Water Corp.— $7. preferred (quar.). ——«* Pennsylvania • Water & Power, com. (quar.)_ 4 $5 preferred (quar.)'——..... ———— Peoples Telephone Corp., 4%% preferred—, Perkins Machine & Gear Co.— 7% preferred (quar.)—— —— Peter Paul, Inc. (quar.)—— ..——4 1 6* 1 9- 1 a__ 2- 4 8-14 15c ; 4 Manufacturing Co., common (quar.) Stock V lc 5 •;Z 5-15 : 4 Pennsylvania Exchange Bank (N, 2-28 3-15 — : 2- 43- 7 . Pennsylvania Electric Co.— 4.40% preferred B (quar.)———. 2-15 6- 1 " (quar.).— Brush "Common 2-15 3-15 $1.75 Muncie Water Works .Co.—" 8% ""preferred (quar.) 84c Cement Corp., vtc.—4_——— Peninsular Telephone Company— 3- 4 50c 5 2-5 2-25 IV/20 Peabody Coal Co.,,6% preferred (accum.)— Peck Stow & Wilcox Co.————.—. 3* .1 ;>$1.75 -I———. ;$1.75 (quar.)' 2; profits.1. . $7Vic (quar.) $7 ""preferred securities .04 — $5,.50 preferred . (quar,—— Pa ton Manufacturing Co., Ltd., coin, (quar.) 7%> preferred (quar.).a-_i————— Paymaster Consolidated Mines, Ltd.— 2-22 ,$2.25 — 2-25 — . Parkersburg Rig & Reel, common : 2-28 $1.25 :—— — 5 Peerless liquidating)_____——,4V|jC (quar.), 2- ———4__—. 'Extra -——4i-44444-44———. Parker (S.» C.) & Co., 40c pfd. (quar.)_—^ , 2-16 ^ common (quar.)___ • 5 Parker Pen Co. (quar.).— (Springfield, ————————; $7 > 2- —. preierred 4% Mother Lode Coalition Mines- (linal 5 5 2-25 4 dend basis. 3- 3- 9 $2 Montreal Cottons, Ltd.; $$1 7%' preferred (quar,)—$$1.75 Montreal Loan & Mortgage Co. (quar.)—__ $31'Ac, Morgan {J. P.) & Co,$2 Preferred 5 2- 2- Pan-American Petroleum & Transport Co.-— 'j -Increased 44.4444444444a44_4.a——, Panhandle East. Pipe Line, common The common is now on a quarterly divl- 3- 25c ,$4.50 preferred A (s-a)—— 2- 2-25 < Common 2-15 4- $1,06 $t". jj$4.50 preferred B ,'(s-a)_______. 5 2-25 . Fibre Pficolet ■ 3- 4 $1 JMass.) (s-a) Monroe Chemical po., $3.50 pfd. (quar.)____ Monsanto Chemical Co., common (quar.) 5 2-25 Shares—; Oxford Paper, $5 preferred 3-20 4- , Ox 2-18 3-11 & Co., Ltd. (annual) $$2.50 Monarch Knitting Co., Ltd., 7% pref. (quar.) $$1.75 5% preference (quar.)—$$1.25 Monarch 5 2*2- .08 —,09 ; ■ .07 Paramount —, 2- 2-25 . 2-15 3-29 5 2-25 2-25 —— , 4 2-15 4 : 25c ,a, 5 15cv 4 Ogilvie Flour Mills, common (quar.)_ * 25c 7% preferred (quar.)—44 — • 4 $1.75 Ohio Power Co., 4Va% preferred (quar.)— $1.12V2 Ontario Manufacturing Co. (irreg.) —4—4-.— 50C Orange Cruch, Ltd., 70c cohv. pref. (s-a)— $35c Otis Elevator Co., common—— —— 20c ; 6% preferred (quar..)—• $1.50 Outboard Marine & Manufacturing......... J : 25c. 2-15 3-1 25c — preferred B,(quar.) preferred C (quar.)^: 2- .03 Oak Manufacturing Co.4_——4_—^44 ' 20c " Mitchell (J. S.) 7 >2-11 k.'Y/:Y.[-rY — preferred -(quar..)— Johnson 2-5 ,3-30 v . Co.. Machine Co Knitting Mills— "5%- preferred 5-21 3-1 7% 1st pfd._ '$$1.16% $$1.16% (increased) — $1.50 Utilities Corp. Corp. ;(quar.)^ 3-1 $55V2C ■ — Investors- Stock Fund, Inc.—i———4.-4,-^ Irving Oil Co., Ltd., 6 %, preferred (quar.)„ Jaeger .3-11. ' Canada, Ltd. International Intertype 35c .4% preferred D (quar.) Missouri-Kansas Pipe Line Co., com. (irreg.). .Glass B (irreg.)— —_1 .Missouri Utilities "Co.j common -(quar.) 5%'preferred (quar.) 7% Co., Ltd., Co. 4% (quar.) $4 preferred B (quar.) ,1 Murphy (G. C.) Co. (quar.) 1 Muskegon Motor Specialties Class A >3-1 t40cr( Power .Common 5 2-25 ^08 Share Corp., 4V2% conv. pfd,— Hundred Corp,j class 33 (quar,) Oahu Sugar Co. 2-15 50c Munson Line, Inc. 1 . 3-15 2-15 (quar.) 3-15 3- ^Quarterly Silver Co. 3-15 „.$1.50 $1 (quar.)— International Water National Nickel :Co. International Middlesex 3- 1 , , 1 . 3-30 3- 2-15 1 (quar.)'____ 4-1 . 3-9 &.-Bond Group fhares— Co.— 3-1 (quar.) 50c ! 50c (quar.) —$2 Reclaiming Co,,. $4 pfd $1 Rubber 2- 2- Series-..;—,44 ——- Minneapolis-Honeywell Regulator .Co.-— 3-11 $1.62^ Co.————— Harvestor Midwest 5 2-15 ; 4-1 $1.12y2 (accum.)_ International Business .Machine Corp.— i New (initial quar.)—i. J—— International 2-25 9 Mullins Manufacturing— Institutional Securities—^ \ 2-15 3- 3- Mount Diablo Oil Mining & Development Co. 3-1 50c Ingersoll-Rand Co. .( quar.)-j——-V Inland 2-28 3- __i__— Corp. 5 2-25 . 42 %c . .C 2-12 2- 1 3-20 $1.25 — Silica 3- 18C 20c Series A (quar.) Corp., common (quar.) preferred A (quar.)——_______ Rayon Industrial 3-14 • 12'/2C ' preferred Industrial Service preferred (quar.) (final)——— Products 4-4 2-14 25c 2-5 . Imperial Tobacco of Great Britain Indiana ,8% 2-12 3-30 . Indianapolis Bond & Share Corp.—; Indianapolis Water Co.;' CI. A com. (quar.) 4-10 2-28 93%c ______ Publishing Co. (increased) Porcupine Mines (quar.) Public 2- 2-25 2-25 " .3- 2 3-21 25c (increased) 5 .04 .10 ; —— $35c Midland Steel Products, common $2 dividend shares (quar.)_ 2-11 Ltd.— — Common 3-1 25c —— Imperial Tobacco' Co, of Canada, Common (interim) •i. ,. — 1-25 S4 1 4-1 $1.621/2 ^.$3j75 2-11 2-20 $10c (accum) 3-1 40C (quari)———— 3-1 $1.75 4 ,7%preierred ?(quar.)— Idaho Power, common 2-16 3-15 $1.50 ■ ___ 1 3-13 88c 2-15 3- 2-15 2-15 4 3-22 3-11 3-1 — $1.25 —— preferred 7, 3-15 $1.06 V* Horn & Hardart (N. Y.) 5% pfd. (quar.) Houston Light & Power (quar.) _L_ Howard Stores Corp.;. common--- 2-12 3-1 25c 7 40c : 4- $2 20c 4'2-i5-# Michigan 2-15 •: (quar.)__ com. 5 4 — 3-15* 3-1 $1 < 51A% 3-22 2-15* 3-15 $1 Chas, E.) Co. (quar.)__;T Honolulu Oil Corp, ________ ( 4:2-15 1 1 25c4 $4 conv. pfd.___ 2- — 2-15 15C Paper Co., 3- $5.50"preferred B (quar.) —: $1.37% Distilling - Corp. (Terra Haute)— 50c Merritt-Cbapman & Scott Corp.— 6xh% preferred;A4quar.) : -$1.62Va Metai Textile Corp., $3.25 partic. pfd.-(quar.) ,8114c Metal & Thermit Corp., common (quar.)__ 35c 7% preferred ' (quar.) " ^ $1.75 Metropolitan Edison, 3.90% pfd. (quar.) 97%c .,4-- 6, 15C Hinde & Dauch 5 Merchants '• : 4-1 Monthly Monthly Hooker 4- 25c __ ' 2- 3-10 Corporation, common $6 preferred A (quar.) 5 2- 2-25 ■ 3-31 Mclntyre 2-15 2-25 $1.25 Hecla Hires . 25C (quar.) ______ Mining Co. (quar.). Heyden Chemical Corp., common 4 4% preferred A (quar,) ____-___.._«._4 YA% preferred B (quar.)— _*7__4. Hibbard Spencer Bartlett & Co. (monthly) 2-14 3- $25c ■ (initial) Mead 4 2-14 3- l 2-25 : 37 %c Co. 3- , 50c — Hazel-Atlas : 3- 2 25C *___ (quar.) 2-15 2 3-15 • $4.25 preferred <quar.)„__ ____—.7 Harbison-Walker Refractories Co.— 2- 2-15 3- McGraw-Hill ' common___^L_—— 10-26 3- $1.50 (new) quar.) preferred, •(quar.)— —— May McEwan. Kaiser Co. (quar.) 2-15 1 5 2- 2-25 (quar.).—44 .50c , Class A (quar. * 4 4 50c,', Class A (quar.) .4.4-.-—50c Niagara Lower Arch.Bridge Co., Ltd. (quar.) $50c Noranda Mines, Ltd.- (interim) :4 $$1 Norfolk & Western Railway Co. (quar.) $2.50 Extra -i—. $3 . North American Car Corp. (quar.)....^—. ■ ,30c North River Insurance Co. (quar.)—^ : ;25c Northeastern Water Co., $4 prior pfd. (quar.) .= $2 preferred (s-a)— ________a_—_ $1 Northern. Insurance Co, (s-a) —— , ..$1.50 Extra' —— 50c Northern Liberties Gas 60c Northwestern Public Service— 4.7% preferred (quar.) —$1.75 ,6% preferred (quar.) —a.——,$L50 Norwalk Tire & Rubber Co., common— 25c .7% preferred (quar.)_. ... — 87%c Norwich Pharmacal Co. (quar.)... 15c Nova Scotia Light & Power Co., Ltd.—6% preferred .(quar.) --i«$$1.50 Nu-Enamel Corp., common (irreg.) a..* 30c 4 > 60c preferred (quar.) — 1 15c ,7-26 $50c, •' 2-15 3- 1 25c May Department Stores f-15 2- 2-25 .07 Scries__________—■ from 8 ,04 .07 .05 • & Co., 4%% pfd. (quar.)___ -$1.0614 Corp., common (quar.)— 25c preferred (quar.) ^ $1.12Vfc' 2-15 '4;>3f 17 25C (quar.) common (qua!.)_. Co., ■' 2- .04 .06 — Series .05 8 2-15 ,06 Series__T—4 Class A 3- (quar.) Ltd. '2-14 : Marshall Field 1 25C preferred A.) 3- Co. Niagara Nineteen Masonite 1 50c ;• - (M. 3- 25c (quar.—• (James) :7% Hanna 5Cc —- B 3-15 $1 —— Extra 3- Shirt Maple Leaf Gardens, 2-8 3-15 f Manhattan ' conv. :?M Extra 3-1 15c *_i.4444 common - 5-1 4-25 11- Mallory (P. R.) & Co., Inc.— 4 2-13 20c 2-15 2-13 1 Series____——,08 Speculative ♦Includes 2-13 3- I 75c 3-15 1 3- ■ Diversified 1 .3- 1 I25c (quar.) 3-1 5 ?•; 20c preferred 25c ___________ Stores, Inc. (quar.) Mines, Ltd. (interim) Hamilton Watch Co*; 1st 1 3- ! 50c ,4.r'; 2-25 Industry Series——.——,—.,04 2-25 Utility Series. 2-25 Railroad Series a— +.U*. % .06 2-25 Railroad Equip. Industry Series.— .09 V 2-25 Steel Industry iSeries———.--—4 .05 2-25 Tobacco Industry Series ^10 Diversified Investment. Fund...—.; ■ .20* 4 2-25 9 50c MacLaren Power & Paper Co. (increased) Madison Square Garden Corp.—— 25c (quar.)— 3- 2- ,50c 62%C (Dallas) Bros. Hallnor 6c/> 3- 40c • Co., 6%% preferred Lyon Lumber Co._a._C— 2-15 .08 .06 Taylor, $1.27'/a _ 25c — Lunkenheimer ' Hajoca Hale Co. 3-1 : 30c 2-15 2-15 * Gulf & j.2; — 8- . (quar.)__ Louisville & Nashville RR. (quar.)—.— Ludlow Manufacturing &• Sales Co. (quar.). 2-15 1 Public 2" 9 4 1 " > 2-15 2-28 YYJ07Y •:- 4. ,02 4197' 4-; .03 .05 • _ .08 .03 .04 ...U— 2-28 .08 -.,./705>n 7.01,; .05 '• 2-13 3- Series___ Industry Merchandising Metals .iSeries 1 .Oil 2-15 75c — Lord .04 ^ 1 75c, — 4 2-15 Mining Petroleum• 1 3-1 Loblaw 2-15 ; 25c $1.12Vi — — 4 42-28 2- 1 2-25 30c 2-28 2-28 .16 2-18 3- 25c 2-28 .11 ..08 ! 2-15 2-20 , Groceterias Inc. (quar.) ——w— Lpblaw Groceterias. Go., Ltd., CI. A (quar.) Class B (quar.)__-—i—^—Lock Joint Pipe, 8% preefrred (quar.) Lone Star Gas Co.' (increased)^: .07 .08 3- 1 30c ':>Extra.:--——--—-—i— 2-15 i .04 4 Merchandising 5 33- (quar.) Series___ Stock Machinery .2- ,2-20 ;• Equip, Industry Series.; Industry Series Insurance 1 9 60c Government Bonds Series. V? . 3-28 — Link-Belt: Co. (quar.)— Liquid Carbonic Corp.,.«iuar.) 4 5 3- $1.50 Corp.— Equip. Industry Series., Industry Series. V';. Food 3-15 3- 50c Industry Industry 3- > 15c . Electrical . .Quarterly Quarterly 2-15 .11 .10 Bond Investing Co. .04 .04 Machine— Institutional 2-28 .13 .08 .08 Bond Industrial • .05 10- -^4 4 ^quar.).-.-- Industry .Chemical /. 7-1,5 2-28 25c ——>—— 4- ; 2-13 50c 50c 4 Gas & Corp. Dlst. Stock Business 4 .3-15 . 37Vic Liggett & Myers Tobacco Co., com. (quar.)_ > Common B (quar.)_ — Lincoln National - Life Insurance (Fort 2-15 6 2-18 11-15* $20c convertible preferred (quar.)... Life.Savers Corp., new (initial)!_ ' Fully (quar.) $4.50 4 2-15. 1 5-15' ,2-28 ■i'"„ Building Supply Industry Series— .. preferred A—— (R. G.) Inc.,-com. (quar.) Le Tourneau 2-15 .15 3- 25c series A 3-21 8-15 25c Liquid Carbonic 4 V*'/o 2-15' .05 class 3- 4- 1 , Bank 2-15 3-15 3-15 preferred- $5 Electric preferred Aviation ; , 3-15 2-13 25c Co. Co., Electric V:-, Automobile .2-6 2- Dock /1 .Alcohol*,& 2-15 1 1 3- 25c Monotype Machine Co Laura Secord Candy Shops, Ltd. Leighton Industries, Inc.— ,6-25 2-28 .10 .07 .05 4. 3- 25c " 4 3-15 25c —" 2-13 1 *09 Automobile \$1,50 —.-u—— — Common-. ; Total Extra - k Aviation- v Commor.' 75c -I———-— 4-15 __ 4-1 $1.25 —— Regular ,.03; Milling, 1 Lane Bryant; Inc, (quar.)i^>._--______—^ Lane-Wells Co. (quar.) 7- $1.25 ' Class Woods pfd. (accum.)—; com.' (quar.) 6% Industries, the of 3-1 34%c :: $1.25 .Griggs Cooper & Co.,-5% 1st pfd. (quar.)—. 5% 1st preferred (quar.) — 5.10% 2-11 5- 1 Newport News Shipbuilding & Dry Dock Co. Hew York Stocks, Inc.— 4 ^Agricultural Industry Serles_______i.—__ 3-15 Landis Machine Co^ common——25o. ^ . (quar.). France " $1.75 3- (accum.) Brake York State Newport 42- 1 4-1 Air York New 4 2-19 3- 1 3- ,1 Class A New 2-15 ;3-12 . 1 ;».■■■ — Jersey .New York 8 1-31 5Uc : of Rea. 3- • (quar.) (N. Y.) Zinc Co New World Life Insurance Co.______,^ 1 2t28 —— ,/$54 $50 —— 5% 1st preferred Group Securities— 2-20 — Great American:Indemnity (N. Y.) — ^Quarterly 774.44 Green Bay & Western RR. Co. (annual) — Income debenture : A.444; Griesedieck Western vBrewery Co.— ^$2 partic. 1-31 2; Hol&ert Payable $1.50 (quar.)_ (quar.). Inc. When Share preferred New Amsterdam Casualty New 1-31 2-25 $30c 7% preferred (quar.)———.$$1.75 Lake Shore Mines, Ltd. (quar.) $20c Lamson & Sessions Co., common^—.: 25c ! $2.50 preferred (quar.): i 62%c Lamston (M. H.) Inc., (quar.)—. 10c 4-24 ; ; —— TVo 2nd preferred (quar. > ' .4.—. . 2- 3- 2 2-28 2-15 Bros., 6% Co., Nestle-Le Mur Co.—• 1 $1.75, (quar.) com. , . 2-8 1 - ■4 ,1'; Extra Extra t 3- $1.50 Kroger Grocery & Baking Co., 6% 1st preferred, (quar.)_" 2-18 1 Quarterly :__.v——4* ■ 7 2-16 Power preferred Neisner 1-31 2 3-15 $1.25 Co.— jGrand Union Co.- - 4 50c 37V&C , 3- 3-14 25c ? (Goodyear Tire & Rubber, common.^ GoodallrSanford, Inc. (quar.) $5 preferred (quar.) ———J 3-15 3- 9 Itoehrlng Company (Inltialf-— 25c Kresge (S. S.) Co.—^30c Kress (S.\H,) & Co. (quar.) 40c 2-25 4. The above payment clears all arrears. 'Globe 1 7% 4 2-28 4- __ 2-25 1 3-1 $2.50 (quar.) Nebraska 3-14 4- 1 3-15 ■ Name of Company 1-18 - s , ' \57o "2nd preferred (s-a)——— . 2-18 preferred of Rec. 1-28 . Per .• Payable (15c w—$1.12% Kayser (Julius) &. Co.: (irreg.)— Kellogg (Spencer) & Sons, Inc. (quar.)—45c Kentucky Utilities Co., 7% Jr pfd. (quar.)— 87J/2C Kerr-Addison Gold Mines,-Ltd. (interim)— $5c Keystone Custodian Fund, series K-l—— 56c Kinney (G. R.) Co., Inc., $5 prior pfd. (quar.) ^ ' $1.25 ^Knickerbocker Fund'>'( quar; , 8c .$4.50 a, ,4- 1 ■ 40c 56V4c Co. $6 preferred B (quar,)—— -i.—$1.50 Katz Drug Co., common—;-;T2%c 4-20 1 Brothers 94$ " Holderi When , Share " '(quar.) 4—*... Kansas City Pow,erl&; Light, Pq.tt 2-8 5- I V Name of Company Kable 2-25 5- 7 25c —— 4-8 2-28 25c —.7- Brewery. (Rochester), Class. B :4 1 ■' ' 2-14 2-21 $1.50 ';YY:.{Y;;> ■"Y v!Per of Rea. i 9 3-12 ■ General Bolder* Payable "t 75c Motors,Corp., common—— preferred■,; (quar.) ■ FINANCIAL CHRONICLE THE COMMERCIAL & —— THE COMMERCIAL & FINANCIAL CHRONICLE A-'" ■* 1 •V Public 5Ve Public Co. Service Common •5ft 2-15 \1% preferred 8ft preferred ftft-'+a preferred 7% 7% Oil Texas Mills, Hosiery Inc., Eeo~ Motors,* 3-15 3- 1 Trane Co., 3-15 3- 1 Truax-Traer 3-15 3- 1 3-14 ■ " 4 Asbestos Union Bag Union oiiCo. ot 2-25 3-15 3-15 4*-: It 3-15 2-15 - 3- preferred 3-5 5% " • 4-15 Common 2-21 7% $1.12'/a , 2-15 preferred (initial) respect of each share 6% .. rate and $1.07 the- 6% ' Romec 3- • $$1.50 Pump Co.- 10c . Bros., Inc. (quar.)—* _—Ai Boxy Theatre, Inc., $1.50 pfd. (quar.) Boos v 2-15 1 2-15A'. 5 2-15 ' Second1 v, Canadian International class Corp., ft+Uliss B A (increased) S'fierwin, Williams ;(Canada), 1 preferred Sherwin-Williams -—.j- Class ,r 2-15 2-25 ■-v. , 75c B Simon Dairies, (H.) Ltd., $30c (accum.) common 5% preference (s-a) 4--.-,— $20c Ltd., common (quar.)—. $30c (initial quar.)— _v$$1.05Vi Simopds fSaw & Steel Qo, ;(irreg;i>i._f,—l^eviivSOc > -Simmons Company 4« % 3-1 : 2- . 3-15 -T-,; v Cias? . A. (new initial) S.'vyec Steel Castings , ", 4 $50c $ < Van 2-25 25c 2 25c $1.25 $2.0(1 Siiuthern California . Edison Co:, .6%' preferred B (quar.) — Southern Canada Power, com. a 6% partic. preferred (quar.) ■ .(quar.,) Chemical Co^ ..i;5% preferred (quar. !___ .2-15 * 2-20 5-15 4-15 3-20 3-15 3-15 $1.25 6-15 ' 9-16 Pipe 1 Common (increased sovereign Soear & S lnvestors; ^ 45c i_ — 3- 10c 2-20 $1.12 Va .3-15 t S4.50 conv. pfd. R.). & Sons— - (quar.)______ , ■ , New. . '$4 3- 1 2-19 ■ V 25c Insurance 3$'AC Brands, Inc., common preferred Standard Cap $1.60 & Seal Corp.— preferred- (quar.) conv. Standard - $1.60 converiible Porgings Oil Co. (Indiana) Standard Oil Co. (Ohio) California preferred E-andard Stoker A • • - v 50c v-___ (quar.)__v__ ' ' (quar.) 25c ' 50cr 3-10 3- 3-12 3- 6-12 25c 6- 9-12 12-12 40c '. 0' 2-15 3- 1 ./ prior conv. Sxmega Storkline Furniture Corp. r'___l._. ' 25c 4- 1 '< l $1 3- 1 (qi>ary)_r_: 12'Ac > 1-t?if2__r^_A_if; '>' 12!/?c ' •Ssrawbridge & Clothier,prior hfdtTduar.) <u 50 Stromberg-Carlson Co., 6V3% 'pfd. (quar.)— $1.62W,'* Sin Oil Co; (quar.);1 J_ 1ri_ 1*J—4_ 1 25c Sun ray Oil Corp.',' 4ys?,:$;jconv."^fd{ITquar.;)-. ■' Superior Tool & Die Co;__^__:iv_LJI'lX3-:_-.—•'<■ Oil; 6% •4%- 2nd'preferred preferred (quaiV)G—Z (quar.) Young , 2-n ?- 1. . : .3-1 .. / 2-25 2- 5c " 2-28 3-1 TOc * 3-'l • 9 2-14, 2-15, . k Other 5-15 Discounts & U 1 2-14 2-14 r , Bills; — 4- 1 Bonds 2-15 2-15 : 2-28 2-11 2-28 2-11 3-11 2-25 Uncollected 1 3- 1 4- 1 3- 1 3- 1 items •■1 premises Total 2-15 2- 6d 3- 1 2-28 ft 2- ftft 3- 7 3- . 1— ft Reserve notes_l __ bank—reserve Member 1-31 acct. Other 3-15 3- ,ft 3- 3— v-4- 20c —— A —. .1,170 634 -ft.;"; ' V. +3,791,'305, ft. liabilities Total 2-15 '2-2a 3- • 5,568 +2,204,552' - 8G4.040 : 749,834 v > + 1,671,168 23,596 +< +147.813 W78.354 ./1^^25,179 + 71,042 + + 10-3^;io tu> .; 45,934 1,512,524 2.9,883 + 31 43,581,462'"^ ^154,687 .[ 316,797 521,375 — . 1,730: +3,688,923; ft_ Capital Accounts— 2-11 3-15 — 1.685>762»hj0»l7B,04G 3-20 : 2-21 3-15 50c 25c 1 3-1 ' 75c 1 2-20 1- + f 17.730,288 deposits __ft__ft— Deferred avai'abillty items ; Other liabs., incl. accrd. divs.. 1 25c 24,155,038 ,1.423,312 — Total 1 3-15 ______ 1ft, +156,785 15,693,102 ft- Foreign $1.12'/a (quar.) •:'+"ft2tf5i:;;J 44,182,758. Treasurer—gen. acct— 1-31 ft 7 3- ■ 62,806 • 264,156 — 23,687 .,.. 69,817 + .,+ Deposits: 9 $1.12 % (irreg.).— 14Z372 + 33,306 ft* — assets Federal 2-15 1 3- ; 3-20 Co. Orchids 110 137,670 1,953,432 , ; Liabilities—vi. 37 %c L_ + 4,071,303 + 4,249,691 W-:v ft. 8 2-20 3-30 40C Is 9d (monthly) + 147,426 ,r: * Machinery— Co. 203,480 — + 25,437 - ——— Other assets U. S. — 2,914,571 —164,021- 3,000 3-18 $1.82 .1 A.' (quar,)__ Bank 2-11 $1.50 * + 96,500 23,665,453 Total loans and 1. 2-15 35c quar.) +1,524.233 23,252,687 securities 40c 3- 2,122 124,937 2-19 25c " 'v 74,995' 180,510 ' 11 +- 1,401,700 946,892 3-20 1 .'ft 3-15 ; 169,267 337,033 2,191 — '■ Notes:' 1 + 13,000,384 7.843.711 506,300 + +122,000 — securities; Certificates 17 A ft 17 — 411,015 ftg:;ftft;l,75i:: loans Govt, S. . —* 347,008 securities—. Due from foreign banks_____ F. R. notes of other banks— 25c (Rudolph) (Thomas) Industrial 2-14 ■ 1 ■ (quar.)__„_ preferred (quar.) Jr., 1 2-28, f$1.12 % (quar;)— $$1.12"'/a ft i——_J prior 3-19 1 reserves- advances--— and 25C .• & Co. gold ctf. 5-15 1 Total V. S. Govt, (quar.)T^A— — 17,982.973 cash 1 6- 25c , 1945 794,403 ;— 6- $1.25 preferred 2-15 x Less 30% Jamaica income tax.:'t't'0-'0^, tf •Transfer hooks , • 37.Vbc * 13-1 ___———— . Total T"""' " Youngstown Sheet'& Tube Co. ' 45(^ 1 Feb. 14, ft 17,188,565 Redemption fund" for F. R. 2-15* notes Inctease( +, or Since- Feb. 13, 179,965 paid in_____ Capital Surplus (Section 7)——ft Surplus (Section 13b) Other capital accounts____ 1 *— + 358,355 + * 13,919; 1; 130,203 • 263 27,428 41,802, 35,608 1 2- 9 3-1 3-15 pfd. (increased dollars) 2-15 common Youngstown .Steel Door (quar.)—— 2-11 2-28 . 3-22 2-15 2-28 Extra Swan-Finch , . W.) Wrigley (Wm.) Monthly Wurlitzer preference' (quar.) Coke & Coal Co. 2-15 Manufacturing Co.—_ ftftft " 75c common (resumed >fty-: 20c Pump (quar.) 4 Va % ' prior 1 3- (final) (F. 4 '/a Vc 11-30 3- 3- j—.—— V£t 1946 lS""'Asset»rr+|J^$-:^' "Aftft 000000 2-15 ; Gold certificates 3- 29f 85 + ft -Decrease (—) 2-15 12 »/2c +1.302 •+' 1,224 Combined thousanda of (to 1 3- +4^39 15.761 3- Manufacturing Co., Ltd. (quar.) Aft 450c Industries, Inc.; 5% pid. (initial)__ 31 V4c Worthington I Stokely-Van Camp, Inc.— "■S'/Jr Lake and ■ft $2.50 (quafiyL:i—_ ' Statement of Condition of the l 2 Federal 2-15 — Products Co. 1 4- 1.685 + A 7 02- 8 3-15 / 2 ft 146 wr': '+1,787 9,557 16,335 2-8 Company, Common 8-31;; 3-15 10c + . , , V, 10.209 2-15 : 3- 436 deposit accounts except U, 8., Gov't Accounts,. demand to Interbank, 2-15. 2-28 , +. f + ,.775' A.W.I 37,821 ■ ■' $1.25 Woolworth ,(F. W.), & Co., Ltd.— '.V Ordinary (final) __j1— I.; Ordinary bonus .; 3-12 50c Co •1.'. 00? —— - Reserve Banks l:' Corp., Oebits 8 3-15 Wor.dall 1 2 & y 2-11 1 2- $9 y:_ Ltd.,'4%% Chlorine preferred Woods 3-8 ' Electric Paper Woolworth 3-30 3- ? Whitaker . 2-11 4-15 25c iquar.)___v___—; 6 2-15 2-28 25c ,_U 2- : 3-15 ; 0 2-18 ' Brake ' 9 $1.25 (quar.) Air (George) Westvaco Wilson ' 1 3- 2-28 Weston $6 3- 20c __________ Co. " • — . 290 4-10 3- +5,172 35$ . . Foreign banks,—..... 96c , 7%; partic. preferred—. Weston Electric Instrument-——' ;< 3-20 4-20 5c Wilkcs-Barre 4-30 3-20 3-11 ;25c i'Common 1-31 'M 1 I 3-15 60c * 3- I 4~ ^ 93'Ac1, , 2-15 1 6- : 25c common— Co._, Inc. >. "...'"''"t 1 3- (quar.)—y:"v^-V SOc Phosphate & Acid Works Stores, Inc., common—,, Drug, 1'; " Qommon Common Sterling 3- V 2-15 3-15 40c 7-15 Snowdrift— ■5%~ preferred Interbank deposits:. 50C v preferred (semi-annual)____— & '' 0' \ », common 3.0 u —L203 ft. 4-15 5-1 40c Corp.__„ Co. (qiiar.) Engineering 'Co * adJusted__—_——r-—t-. Ltd.— (quar.)— Pump ■'} "I*ri."' during week^— $$I (quar.) bank s—- depo£itsi--i__4;-...-^-^i*^^-*--deposits— • preferred Westinghouse Westinghouse 2-2i;7 •: 5 3-15 r;."• W Time 2-18 ; $1 Manufacturing 4-15 - —i;" Wholesale Bros. 3- preferred (quar.), if 40c' COip. (quar.)i_____i___^' I8%c ; V of S'erchi ' ' / t$1.25 ;»$$1.25 Standard "VI ' (quar.) Standard Oil Standard , Dredging Corp.— Standard 33A % 40c $1.12 V2 i__ Co., Ltd., 5% pfd. rqtar.l :b% ■ preferred (quar. Siandard-Coosa-Thatcher . (quar.) (quar.)_^_______—_; Standard Chemical ' 2-28 1 5- (Detroit)— (Quarterly Standard .$4.50 ; 3-12 ? $1 * ft 3-10 : 1 $ 15c • Worts, $4 convertible preferred (quar.) Western; Auto" Supply Co., (quar.)_— Western Tablet & Stationery Corp.— 1 ' •' (quar.) Accident 3- 545 2.231 ——-—• >.? 2,709 + Domestic banks___—_~~—— ^3-10^" 3-10 75C preferred ■0823 2-15 % 3-15 f, : +""419 — -!k 2-15 (interim)^-;—- <& 61 27 notes^^iU^^M^^ 7,931 U. S. bonds 27,202: Oblifations guaranteed by U. 8. Government 12 Other securities i 3.372 Reserve with Federal Reserve Banks .10,133 2-15 $1.50' (quar.) Wentworth 0 3- common Other loans. U. S. Government 2-11 76 Liabilities- S2-14 -V :" $1.75 common Wesson Oil t 2-19 1 3- . (initial) common preferred- 1 2 37V2C Gooderham + ft" Demand deposits 1 3-11 3- •!•••;• 0^10 Extra ' S-andard : i3V»cv; 37 3- 1,223 ftft" + Treasury bills 9-20 8 59 + + liiV1. 2-25 2-25 3- $25c Weliman 1-31 V (E. - v 50c (quar.)- Petroleum Wayne }< 2-15 Inc.", piegel, Squibb ; 4-11 1 $1.37 Va $1.37V2 1 3- 7 3- •.^2^ 6C 1-0 v4c 5%; 5% ■<,: - ________, Co., $5.50 1st preferred (quaf.) 2nd preferred' (quar,) $5.50 . quar.) ' v 5% 2-15* /t'.y'V. 4 . Southwestern Public Service— ■ 3- 4-i5 • 10- 540 . —• « Balances with domestic b-20 ;• + : — Cash in vault .3-21 1 7-1 'f 50c ' (quan)—___i___T Washington Railway & Electric Co., 8-15 1 35C $4.50 5-15- 't — (Quarterly 4- * ,v" * 50c ; __j_ Warren : 15c Southwestern Life Insurance Co. oDallas) Warren 2-15 $l!25 (quar.) Line Co.(reduced)— 3-1 3-20 ,Northam) Corp., $3 pfd. (quar;) (S. D.) Cb., common—__________ preferred ' (initial) ; Warred ty 2-15 \^!o preferred 0 0 •• $1 • . (quar.) $1 preferred (quar.)—— • & 2-15 ; u 4 • Common 4-19 3-1-46 $1.25 v '■ : Treasury certificates of Indebtedness—.—1__ Treasury 2- 50c -preferredv (quar.) Walker: (H.) : ?:'c 2-28 - Mines, Ltd. Walgreen CO., >14 ;(5%. preferred (quar.: Southern Waite Amulet 1 1 62 J/2c ' -• A. (monthly Detinning • Co., 8- 3- — BMUlontmy/. preierred v 22- 3-14 • Vulcan ' - .'PSK 1 62'/a c 2-15 3-15 -75c 2-28 62VaC (quar.) class 5-20 ;< loc (quar.)—, (quar.) 9 2-20 996 pur* — uj. Works Co. 3- * 0 3-11 0: prior pfd. 2-18 6-10 , ■ for Other securities Loans to banks . 40C ^ (.quar./— (aiuutan 2-15 3-1 $$1.50 40c'- $2 V dealers Real estate loans ' . and brokers 7.342' . U. S. Government obligatlons___,__ : 1 2-18 3-11 to Other securities-; > 3-16 Vogt,ManuiacturingXjrp.!>.(qiraT. . __y. 1 Norman 4'/U- Southern Greyhound Lines (increasea, u-i-, ; Southern Railway-Co., common (quar,)___ 4- 62j/2c * 2-I6* 2-28; '• r $20c 3-16 f 2oc Co.. prior preferred •(quar.)—__va • (quar.)_____ 1 (quar.—1_ co. 2-25 37M>c 4- $2 ' 3,283 + J v .. Other loans for purchasing or carrying: , common + 15,135 agricultural U. S. Government obligations 8-31* 11-30* 3- and chasing or carrying; • 5-31* 9-20 3-11 Co.; 68.223 . Industrial, loan8^_. Loans 2-28* 6-20 1945 +9,216 ; ' 3-20 . ••"■'3-15/V 7%: Commercial, C" 12-20 $1 ^ and Investments-r-total Losna ' 40C 50c 2-28 50c Ltd.— 4-10 3-20 (quar.) 3-15 ' 30c 6-15 50C Class 3-11 -45c 3-15 1 ■ ^ $1.50 ; . 1 7- 40c Virginia Coal & Iron Co, Virginian Raflway*6%. preferred (quar.) 6% preferred iquar.)- 2-22' 2oC' SbconyriVacuura-, Oil:Co., Inc.i^.-., ( Suundview Pulp Co,v common (quar.)— preferred (quar.)_________^_____j—_ South Bend Lathe Works (irreg. Southern Advance Bag & Paper— i$2 preferred (quar.)______^._____________ 4- _ Loans—total_„__J_ " . i Skilsai*^? IttCi,d quatiJ'ilwli- $1.25 ' ' 5UC Visking Corp., . 2-16* •; 4- (quar.) 1st preferred (quar.)y._—, 1st" preferred (quar.)— Vict 2-16* a-lb 1 1946 MM ftAAssets-"-^^ jC / Feb. 7, Jail. 30, 6. 1940 3-15 58 Company (quar.)———. Van Raaite Co., Inc. (increased/_—y._ Vanadium-Alloys Steel (reduced/-.A—. Venezuela Syndicate, Inc._ 2 XncretM (4) or ft Decrease (—) Blnce Feb. 2-15 . Co. Van Dorn Iron . 3-12. 53c 58»/3C , of dollars) 2-15 40C Co. of the- assets and liabilities of reporting summary 3-15 ;1 5% A member banks follows: ,2-15 53c "V " Ruober Common 4 2-21 *' 3-20 " 25c c 2-15 50c ; 5 Vp prior preferred (quae.) ; vSimpson's, Ltd., 4;preferred ; 2- 3-15 ,! Utica, Knitting Co., 5% 2-28 ■ 3-1 1 40c Products v 2-28 3-15 riPC-- _ 3- 1 4- & Sons, preferred 3- 3-15 ji 40c' participating ;/ ' 3- 50C * Laboratories, 52.5u piu. 2-15 3-15 50c SJvervvood 1 3- 50c 9 3-15 (In millions Universal 1-31 2-i5 * * $1 -/ 4- 3- 50c Universal 3V8.v 4- 1 1 (quar.) Utah-Idaho Sugar Co. : 4-10 5-1 . ? v 1-18: , 2-22 4- :_k Canal Co. (quar.) Universal Insurance 3-12 2-15 $$1.75,:.; i( Co."-(quar. 'i'4% 'preferred (quar.) Signal1 Oil & Gas Co., class A 2-25 $15c (quar.),-- ' com. (quar.) 3-15 1 5 United States Steel Corp., common-• ;-•':$ i 7 Vc preferred (quar.) V $1.75 United Shoe Machinery (extra)-—' 62'/2c 2-1 2-15 : 4- A- • jeisey a. .-Potash 8% 3-15 2-25 New Extra U. hi 2-11; 2-25 class Quarteny U. 1" 25c T 5 15c (quar.) Pipe St Foundry Quarterly — 4-19* 3- $1.12 V2 , ,50c ' — 33- 475c (quar.)— Quarterly. U. S. Playing Card 2-4 $25c Soaeffer 2-22 ' : 4-19* 1 non-cuhi. 8. v; 2-26" 10c iSdawingan Water & Power preferred 8% —a— j • preferred United 10c ; .2-23 preferred 5% ? 23c, (quar.) (quar.), S'irvel, Inc., $4.50 preferred < quar.) (Wy A.) Pen .Co. (quar.)——— i Extra —-J-y.— , $4 Investment participating pref. ifTrtist, 4% Sertick ■ y preierred Learner, 2-19 3-11 ,25c ■ ___ 3- 50c S. U. 3- 2-15 $1.75 Graphite 2-28: , . Co.~'. (quaiv S. 2-11 1 (quar.) A 5% 2-llv . 1 (qUar,) Co.'__„________ 3-10 - . Roebuck. &• Co. V: ; 3-15 4- 1 : (Helena), class-A (quar,- 25c 3- 1 ' JBuppert (Jacob); Co., qommon-.v.L :. : 25c 4- 1 'i ■V Av-4%% preferred (quar.) «w i—$1.12Va 2-25 v SacorLowell Shops (quar. ft;- .. 25c-' 3- 1 St.v Joseph Water Co., 6ft preferred (quar.) $1.50 Sarnia Bridge Col, Ltd 3-15 25c .Schiff 3- 6 Company (stock dividend)-,--. 50% Schulte 3-15 ]i (D. A.) Inc., preferred——--$1.87% Scott Paper, common (quar.) ____W " 45c % 3-12 i i 5- 1 $4.50 prefCrreds (quar,)-——-—, $1.12% * 5- 1 $4 preferred (quar.) I $1... Seaboard Oil of Dei. 3-15 <quar.)_____ft.;«_„Aw, ' . 25c i Seaboard Surety Co.-— 2-18 f' 30q 1 2-15 $1.25 (monthly) 6.36% prior preferred "(monthly) 6.38% pnor* pi'eierred (monthly/________ 7% prior preferred (monthly) ; 7 %: prior preferred (monthly) United Merchants & Manufacturers, Inc.— t 2-15 Rubinstein Sears class 6%: . 3- 9 . 3-1 1 , > 2-20 >■20 50c! 37 %c - I 33- *' - Demand deposits adjusted declined $103,000,000 in the Chicago District, $37,000,000 in the San Francisco Dis¬ trict, and $205,000,000 at all reporting member baiiks. Time deposits increased in nearly all'districts and the total increase was $35,000,000. United States Govern¬ ment deposits increased by small amounts in all districts and the total increase was $64,000,000. Deposits credited to domestic banks increased; $47,000,000. 3-1 33- United Ligiii & Railways (Dei)—. 6V0 preferred (monthly in respect of each. pfd. (guar.)— 3-15 25c /DC U. a *,-*5ft".share ;■* Bo Hand Paper Co., Ltd., 6 ft 2-15- Corf— U. share in formerly bearing $1.15 2-9 3-1 United ; Fuel Investments, Ltd.— 1 Rochester Gas & Electric Corp.— 4ft .2-15 3-1 (quar.j pieieried : $1.25 United Engineeriiig & Foufidry 4-15 15C 25c Hi3-20 $1.25 America, com. (quar.) (quar.______ Coal 2 $1.12% of Electric Holdings of Treasury certificates of indebtedness in¬ $81,000,000 in New York City and $90,000,000 all reporting member banks. Holdings of Treasury bills declined $39,000,000 and holdings of United States Government bonds increased $18,000,000. v Inc.— (quar.) Co. 9 3- $73,000,000 at all reporting member banks; other same purpose declined $41,000,000. Loans or carrying other securities declined ' v'. I. ' * . " V- / ■•«•. f • • ;; i ' ■;r \ at 9 3- 3- o 50C. in¬ creased 3-20 >3-18 15c 93 % (quar.)_-________^___ 4'/2% preferred (quar.)_ Biscuit 4-12 17% eft. 1 3-20 ft'ft 4- 1 ft 62VaC (quar.) (quar.) Products, preierfed United X5«| 3- Corp preferred b'fo 2-28 3-15 loans agricultural purchasing $47,000,000. • • 2-20 1 3-11 Co. Lines, 3- 25c copv. preferred (quar.) Al'tists Theatre Circuit, Inc.— United ft-'AftV A.".ftAftl -ft (quar.)—1——f (quar.) Air 0 $1.50 and industrial, loans for the for 2-25 $1.37% US California, $3.75 pid. (quar.) Car and 2-25 3-15 15c Corp. Rubber Paper & Airqrait 5 V2 Vc United ' & ' purchasing or carrying United States Govern¬ obligations declined $67,000,000 in New York City ment 2-15<3 03- 5 .ft $65c common Street $205,000,000 in V. I , 'I and 1 . dealers for 2-11 1 3- leading 101 creased $33,000,000 in New York City and $42,000,000 at all reporting member banks. Loans to brokers and 1 3- 3-15 50c (quar.) (qual'.)___ Co., .. $i 20c (quar.)___ Salle United . 13%c ■> - La United 8 —3V/zC South Union Tank .. (quar.)—$ 1.12 Va (quar,' Manufacturing Co., common, (quar.) %ft Union 8 preferred class A &%: preferred Class B ■ 2-21 8 "-..©ft Bheem .208 3- Inc.-....-.—.__v. preferred Coal 3-14 3- .. 6% prefeired 1 4- 50c 30c . 5 V2V0 25c i:: Z__H_ Roller 1 $1.75 ; ___ Republic Drill & Tool Co.— if * 55c conv. preferred (irreg.) F<epublic Investors Fund, Inc.— ft , ' (quar.)__;____________21___ Bearing Co. Tilo Roofing Co., Inc Toronto Elevators, Ltd.— 5V4Vcpreferred (quar.) 2-28 5ft :— — preferred Timken hi System securities carrying or 1. Commercial, ft;M3- i (quar.) Associated Oil 3- 15c $1.25 common..;— (quar./_ —_ft_« FJeed-Prentice COrp. Remington Rand, Inc., common, (quar,)-.- preferred dividend 2-15 13-15 preferred 12%c ■ prior preferred A; (quar.)' Stock purchasing demand deposits adjusted.' , 1-31 Water weekly reporting member Reserve 2-26 2-18 10c 37 %c ft (quar.)_ (quar.)___ ——___ snk 5% 3-1 $1.75 statement of the' Federal cities shows the following principal changes for the week ended Feb. 6: Decreases of $161,000,000 in loans for 2-26 2-11 3-15 4% 2-18 5 Bayoniery Inc., $2 preferred (quar.)_____—50c Beading Co., 4ft 1st preferred (quar.)——A *'■/ 50c . 3-15 90c 3-15 Extra .ft 7ft 35c 50c Tide 8 preferred Purity Bakeries Corp. (quar. Quaker State Oil Refining (quar.) Band's (Pittsburgh) comrnon.- Real Co. 2-28 ___________ 1-24 5% \ convertible Electrotype lOc of banks .v 8* 2- Manufacturing Co.— preferred '(quar.)_«._k-— Thompson Products, Inc., common__:____;k 5 preferred Sulpnur 2-15 The condition - '2- 4 vl> " , Monday, February 18, 1946 Condition Statement of Member Banks 1 3- 12- 1 ; v& mcHimm ;■ iy "1 50c ^ 3- 1; • $3.60 2-28 Co., Rapid Gulf w/ ReC. Payable ,>v 40c 4- 1 30dS':?v 3- l1^ 1 1 HoMert When Thatcher 2-28 (quar.)_ ft' 8% '■ ' v'A (quar.)_______ Producing Gulf «'y Share 11 preierred Texas preferred (quar Sound Power & Puget Company U____ (quar.) 7% 2nd preferred (accum;)___.._; Terre Haute Water Works Corp.— P Service Electric & Public Co. Taihpax.Inc.,—_—;—' Telephone Bond & Share Co.— (monthly) (quar.)___ (quar.)_l- preferred & Special Sylvanite Gold; .Mines ' (quar,) Syracuse Transit Corp..____„ (quar.)ft+W preferred Pure name of Swift 2-15 (quar.) 6 ft >l ol Re0. /y>! Per Indiana, Inc. of Public Service Corp. of N. J., $5 .ftft 6% preferred (monthly) 1 Payable' x'-v Sharer;' (monthly) wlw(monthly.., preferredi; (monthly) .ft..;—^ 7ft- S ftWftft' *'> «■ ■ Hoiaer» Colorado— of Co. When Piefarred preferred 1 6ft • of Company name • Service ':SP' v>; -"T . » not closed for tPayable resident tax in Canadian 15%; funds,, U >**■■■; r' this dividend. r ■. 1 XUayable in U;'S. funds, less 15%: Canadian non-residenta' tax resident.tax,.,7%. deductible a at the Less British '■ :v tax. source. Total liabilities & cap. accts._ Ratio1 of . serves note Non*: Income 'tax..--..".; geld to certificate deposit liabilities Commitments trial loans to and F. LL_ ' +156,785 ' ' ^3*,791',"50^, r R, combined,;.make 44,182,758 re¬ "42.9 ' . "ft; ft^:ft 'i:m indus¬ ; 1$2T -•*•«'• ;ft> ■* I : * , -i- t. Volume""! 63~ "Number 4465 V "*;• Corporation and V * " (Continued \\'S'-'.''' i'S- Yr- '■ ' '< "V ' ' - from }\ ' ' v . :U. Months Ended Dec. 31— Operating Total * 1945 - revenues oper. ' $8,260,747 •' 1943 • and .Unamortized debt 5,169,380 Unamortized cost income (net)^1-—12,483 A"/''"'v/i'1. /'"'AA*:';;'■.ST.1 Gross ■ 234,160 : 9,600 ' ————— • $2,140,232 1,623,351 $623,195 - 162,: p. 2518, ' >: . , • $2,472,048 $1,227,856 ')r :'///: / ;1945 //>' .1944 ' rallway/ciA//: $614,459 "W $780,270 from from •Net railway—— *138,176 *341,296 Net ry, oper, income ; , 76,471 : -^From Gross Net from from 12,367,620 2,104,628 *624,040 Net ry. oper. .income-..♦Deficit.—V. 163,. p. 76, ., / 'T liabilities premiums • Capital surplus Earned ■ outstdg. on funded debt- ' : • - « ^ t'C % \ ^ ^ e «i/t 'X * '* > *204,517 —V. 43,345 1,448.705 2,841,120 flees from coast to . Leonard will T. provide coast, announced was Prior Beale/ President, for the said retirement the all ol immediately plan, employees, from effective; officers the the retirement payments benefit l'/a'/t of tions. , t Under monthly plan, the of employees lvghest will annual eiigible be In for the Creek may field in surpass A wells more total of and full 24 and area preceding retirement, multiplied by the years of monthly paymepts will be 40^ pf the highest annual pay .less an amount equal .to Social Security benefits^ ^ ^Since / ment plan of Oper. sold.— oil This plan will not only affect all workers in the Fenrisalt plants at Philadelphia. Corn wells Heights. Natrona and Easton, Pa.; Bryan, Tex.; Portland. Ore.; Tacoma,- Wash./ Wyandotte, Mich., and Pittstown. N. J., but Also will apply to workers in four subsidiary companies—Natrona Light & Power Co.; Natrona::Water Co.; Penn salt Coal Co.? Natrona, Pa.,'and Wyandotte Southern RR.—V;'162, p. 3079. and Profit Other other Total Prov. less Fed. •Net ^ Pennsylvania Sugar Co.^-Debentures Called— ; ►5 All .of the have been $1,7724100 called for outstanding'4'A debentures due redemption 1, 1946. at 100 and interest. Payment will be made at the Tradesmen's National Bank & Trust Co., ' • trustee, Philadelphia, Pa.—V, 159^ p, 2013. j.j- V*., : T''$ \ A>- ,1 J, •-"Ln VM *<r't f , <, s $967,492 — inc. tax. I?.•; K Vj- Month of JanuaLy— \ .1946 "V Net Mies- —.T——• • .$3,268,907 ' ; profits tax : $249,224' 1 of $677,100 BALANCE v —v..'163, 317. p. ^ ' .' Peoples Water & Gas Co.—Partial 1 excess Redemption,— v Immediate payment of the- full f i-edynptiont price iuay be received at The Chase National Bank of- the City of New York, successor $46,436; . notes 110 $679,880; par) (108.000 / • Xlot&tCh Ws jxeferi Bcyern- elected Bxebutit^ #lile^presidentJ.pnti Gen^ Manager, A former Vice-President of Ydfing & Rubicam, ad¬ ral Sales vertising Mr.. Houston agency, and tales organization. has In the ' production problems, later being tration as' deputy administrator sistant to director the "y 3079. of the sales Cost of Other 'vVv'b, the ; Income of He Price later and Adminis¬ became relations.— -V. /' ';■.■/- :•1 : 1 ' " •* BALANCE ASSETS—Cash . securities tax at notes, on cost, adjusted 46,350 : for amortization from of Federal domestic subsidiary corporation, etc., Government' (exclusive of property, $1; deferred charges, $40,682; total, plant them taxes, possible trust future 20-year 4% ' ' , to '• .■ • *. ... the of (paid electric week ended output Feb. tor the company 5,411,000 kwh., 163, p. 784. amounted 9.; 1946 or-^"4'!c :: •- ■ fjom 1 - -• ' ' to the r ■ * • and its » 12 Mos. End. Dec. 31— 1945 kwh., a decrease of corresponding week of 1945. •' ' "■ ■ ; ■■■' ' ■ "•: Interest "char-n in totaled & s or-v-r- $832,835 reported year by This a dlvs._ Fe'der- 1944 1943 , 71942 $2,891,293 $2,762,939 1,083,180 1,087,465 549.^00 --2,582 .468.675 5*1 Crl $555,005 ind $906,352 Electrlct 507,955 —A -• ' Edwin " 228,100 ? CRT 4.^1 ' r49,61^ • ' 54fi.(T7fl 87,6° 6 ; in At.'i increase i'». 1 exceeded 162, the 2823. p. - ij,; >: • of loer" denr*"!ation. $797^,023 tuxes. :ludes rctirer \ ' ' 1 '• / a'., p. - ../// A'i-;-L:!A of held common stock on.thii at .a price -to __ of shares refunding of convertible the stock, series A, which will preferred outstandlnc be called 21.J36 for are < basis -of one- be filed- by be sh«re-. j of 171,875 73,761 75,180 4,307,138 231,824 •/7. 42,905 . ——— • 29,003 " 504,453 763,149 18,233,734 18,036,080 on - -undeveloped' water- power physical property:...—— 1.048,134 •—_——•- 1,200,000 10,248,753 10,585,457 6,229,604 — 659, 5,589,972 134,744,608 133,480,937' '• , „ Reading & merged under the Columbia into ' - 'a- . , f ' <. RR. Reading Agreement required for such of share of merger $36 of of the $50) Into stock common : k>: share amend- a • a .. • .. a issued fo»- t'-.e. is convertible fat the at the basic conversion % , proceeds shares of 385 stock preferred share. per convertible of purpose. convertible of value to be received unsubscribed stock preferred the by common Pref--rred redemption at $125 per share a/ A At/A./ company stock estimated are and to be from the the 30,000 $1,488,585. CAPITALIZATION, GIVING EFFECT TO PRESENT FINANCING /a a : ^ Authorized . preferred-stock (par $50)—' stock (par-$5)—————; , Feb. On . 20,392 nurnose -1,549,969 6,315,486 a219,269 which Stock 1946,"the 4,- incorporation, adopted amended* articles of shares of convertible preferred the authorized common to 350,000 shares, of which 41,666 shares offered, now 182,500 shs. shareholders authorizing, the are 1 f Outstanding 30,000 shs. 30,000 shs., 350,00 shs. j 30.000 and increasing shares for conversion of the convertible preferred stock. 31,- 1945, a total of 32,500 shares of. common stock were reserved for conversion of the company's outstanding 6,500 $5 convert-, Stock from 200,000 $ have been reserved ' ible /.for Oct. of As preferred shares on the basis of - five shares of -common stock each $5 convertib'> -preferred share.--The conversion privilege on Jan. 28, < *•) and 385 of the shares so reserved were expired not required sold to to have Iss ;/.? for r / underwriters cota1 -of : <; upon *. conversion,- ^re being ana ehe 182,500 shares conversion the sale of which; shares offered. now rrylerwri' to cor. • <; n st. ^ The :; 13,750,000 1,125,000 L Common . - 4/.': $2.10 conv. 3199. convertible preferred shares 13.750,000 21,778,790 21,778,790 51,475,000 s 5L475.000 2,812,500r a 2,812,50(7 Of these proceeds, $8,027 will be used to reimburse the company's treasury for the redemption on Feb. 1, 1946, of the company's $5 coniv vertible, preferred shares/the holders of which did not elect, on or prior to Jan. 28,^1946, to -convert the same into common stock; approximately $350,000 will be used for the construction of a new building now being erected, for the purchase of machinery and equip¬ ment for said building and for moving and installation costs incidental thereto; approximately $600,000 may be used for the: purchase op. erection of an additional plant for the production of the company's smaller motor frame sizes, and approximately $230,000 may be used ; for the purchase of machinery and equipment now being used by the company under a Navy Facilities Contract. To the extent that such proceeds/are not used for these purposes, /they will be added to the, company's working capital.;. ' ' I Engineering: & Service Corp.-^Output^ on Feb. 7 filed a registration with the SEC for 90,392 .cumU tiye convertible"preferred" stock (par $100). **.. The compar.y .is issuing to the holders of-its common stock rights to 8 1 \ liabilities_-'4.>^_.___^_.^4>4-_-_- other were shares the comnauy shares v' •<,171,875 PURPOSE—The Norman each' '•■■} 'V'/' reserve price during of .4# for 161,703 _•— • for loss and Each Supreme 20,392 105,141 /> 1,840~344 credits arbitrary -'5/.a:/a/.-.//-••;• //a/a Shares •7 15,067 134,744,608 133,480,937 current The not representing 42 2^ total gain in assets Railway & Light Securities Co.—Registers with SEC— The 159,774 9,574 declared 163,.. p. sale Clark, former Deputy Assistant Chief of Staff for Headquarters, Allied Expeditionary Force,-has been appointed, managing director-of-the corporation's RCA International • 110,476 at $34 per share. ; These are shares reserved for the con-" version of $5 convertible preferred stock and which were* 1944* over , $212,474,000, 1,120,334 .... 5 of/30,000 shares of $2.10 convertible preferred stock (par $50) at $51,75 per share and. dividend. A total of 385 shares of common, stock <par $5) was also offered. Radio Corp. of America—New Official— Supply. /.r; Feb. Report- the company to .policy-.owners and in 1945, and assets belonging to of 42,000 2,542 2,169,160 Reliance Electric & Engineering Co.—Preferred Stock: Offered—Mention was made in our issue of Feb. 11 of the offering by Hayden, Miller & Co. and associates on- death total 71,192 20,200 2,307,660 ;/a;/ 474,878 by , $18,676,000.—V. ment. Bal. avail ♦Includes , 221 1945 occurring / l. 1,016,549 $1,381,230 $902,026 346 2,826,000 expense.—..... and a 1 • 2,510,000 • — '-1N I-"* 1,887,274 receivable.——. discount 109.682 35,346" 2,201,694 u— — reserve 1,025,846 103,802 Co. and Stony Creek RR. Co.? Co.. Dec.; 31, 1945,'-that they are to exchange their stock in said companies for-shares? or scrip for fractions of shares, of common stock of Reading Co. Further information concerning the exchange of such stock can be .sedured from W, W. Rhoads, Secretary- and Treasurer. Reading Co., Reading Terminal, 12th and Market Streets, Philadelphia l, Pa.v-V. 163, p. 820. '-a'aa a 1,213,947 - - .; : warrants accrued entitled 4,013,735 475,956' ' 1,149,962 accrued — T——- which $1,381,009 $1,377,982 1944 123,861,209 . 1943 • . ' This company Js. advising >stoekhol(iers.of; Allen town RR. Co.;'dolebrookdale RR. Co., The Gettysburg is Harrlsburg RR< CO., The North East Pennsylvania RR. Co., Philadelphia & Chester-Valley rr,- Co.? The Philadelphia. Newtown & New York RR. Co./.Pickering-Valley RR.- $5,394,742 4,247.807 . law SHEET, DEC. 2\ -__ Customers'1'deposits Ccr., 1944 $5,625,674 appli¬ tax ; . . 1,246,941 7 .570,381 . deduct, . profits Reading -Co.—=Minority Stockholders of Merged Com-' panies Asked to • Exchange .Their Shares-^-. $££££ l , $27,110,000 total Division.—V. 162, '' Amort. i ~ -Earnings— $2,936,121 —- f for not the statement. BALANCE Total output of the operating companies served bv" thl«! rnrpor* ation for the week ended Feb. 9, 1946, totaled 181,824,000 kwh, as compared with 205.p««,000 kwh. for the .corresponding week last year, ft .decrease of 11.5c/oV. .163,. p. 820, the $2,924,609 revenues tOper, (lnclud. maint.j♦Taxes • for 131.248,000 Philadelphia Suburban Water Co. Gross subsidiaries income , and excess — -V/ ' - 7.9',;, •Public Utility r the Earned'-surplus company >'-\r ; ihe CONSOLIDATED 'T'/Vr sites 1944, $1,377,867 ^.330 /./ ' 1J3' 1 . investments. the elsewhere; in of it were 1945 •:• Reserve . . ' —V. J? , 1, increased total provisions would company periods refinancing 125,103,012 Capital surplus $54,000; ,467,198 ,by $56,098,000 to year during contingecnies, sinking fund Philadelphia Electric Co.—^Weekly Output— The . deductions. , . sold the from thfe which respective resulting "carry-over'" shown Income on the '■'0« Depreciation $41,220; Jan. $1,299,703. — . ; par) claims of $10,451,000.'* The most-striking change in investment portfolio occurred holdings of United States Government bonds which local $244,000; 6 7c preferred (par $100), $250,000; common stock (par $20), $2,500,000; earned surplus, $1,425,984; pre¬ ferred stock' in "treasury .(114 shares at cost), Dr$l0,963;; total, / other terminations of in ~i—--——.*,4— Deferred deaths 8.9'> taxes pay ■ Other $37,422,000. "> a. during 1945 among Provident policy owners as a result of enemy action, combat operations, or war service accidents amounted bonds, due April 1, .1957, $5,518,590.—V. 161, p.. 706. no from Co.-r-Eai-nings-T1 increased.by War $5,518,590. $637,133; accrued royalties, interest, etc., $19,344; dividend payable on common stock 2, 1946), $31,250; reserves for $421,8.43; first mortgage and collateral t. — insurance the to reductions tax plant Interest' revaluation, surplus 1027/ $1,300,033 this beneficialies and payable, Jan. *' /a, ,new high. , > v Payments made or;, credited by (after reserve for depreciation and amortization of $2,069,$1,518,172; construction in process, $74,588; goodwill, patents, LIABILITIES-^-Accounts > ; lapse or surrender amounted to only. 1% of the average amount of insurance in force. Outstandinginsurance increased by $39,590,000 during the year to $1 128 760 000 tax $10,000; . . and Voluntary discount , shares from 687,500 $3;329,829.$4y457l-434 —- of Federal required Dividends amounted to $76,316,000, an increase of 5,9The average new policy was for $6,109 of life insurance, highest in the company's history. • » : .,, , $0.61 ; 1945 deposit, $574,277; C. S on deducted NOV. 30, New $84,056 $0.71 SHEET, hand and $116,976, $130,406 - Aocount s-payable of passed the; half billion mark .for.the first time in its 80-year history, according to M. Albert Linton, President, in his report to policy owners at the annual meeting held .on Feb 11 They now stand at $511,659,000, an increase of equipment 654), ; credit ' 1945 >,144,934 687,500 dividends — amount Taxes Provident Mutual Life Insurance Co.—1945 liability), $359,627; notes and accounts receivable (including $31,126 owing from domestic subsidiary and after reserve, $11,7601, $668,015; inventory,:$1,834,016; investments and other assets, $432,464; investment in foreign subsidiary corporations (10071-, owned), $6,748; investment in wholly owned ; $42,398 . v earned (net)— -V.' 162, p. 2398, 8,383 64,350 , $96,537 ' / $160,887 —. - revenues income interest Assets of Earnings per common share^ 1 Income Net -income uu'rp test.)— '1 •.. operating "Other $122,022 - 3,578 ' . Net p, 2,416,983 & 2,443,965 taxes— oiv income ' Portland Gas & Coke. $2,565,987 $157,309 J1' arising 1944 . $2,574,298 Net .profit '* .- 19,581 as¬ 162, -//i ]'*»' 1945 * — 'i ' Gross - before Federal » Net (net) \'"P- $226,438; 12 Months Ended Dec/31— " 1945. Operating revenues _$6,218,982 -Total operating revenue deductions... -4,919^279 sales procurement Office o: shipped—y.——— profit Federal taxes '• : merchandising, rationing. '■ net sales Profit ' In handled ; shipped— .: Operating • for " *6 Months Ended Nov. 30— Net • lie lent to bureau surplus surplus. : Pfaudler Co.—Earnings— ( ■; specialized Army $21,587; « 1,144,000 $4,017,329 prior preference stock —;4 •Commons stock-($ 10 "par) 1st mortgage bonds, 4'A'» series due 1972...— Serial notes payable to banks, due. 1947-1949— Notes payable to banks: (due within year)- JIncludes excess profits taxes of .$150;726; $otal, $1,442,134.—'V» 161/ p. Pepsi-Cola Co.—New Official— 123,353 LIABILITIES-^ $6L979 a post-war /. stock common paid-in. surplus, New- York, N. Y.~163, p. 76; $554,755 —„ ———— Total— taxes payable- (after taxanticipation $724,995), $13,181; accounts payable, $107,1)77; sales tax col¬ $40,708; payroll tax collections,- $60;881; accrued liabilities, $.1.20 cumulative preferred, participating stock (84,985 shs. of lections, capita', reduction trustee, 11 Broad St. . . v', .^.LIABILITlES-r-Federal incorae the of $360,100 profits .—. Other deferred debits— profits tax of $234,000 SHEET, JUNE 30, outstanding Oregon-Washington Water .Service- Co. first 5% >^gold bonds,,&ejries< A, due June i; 1947,'have beep;called ior redemption on, April-9, 1946. at 101. and interest. All x inbrtgage ; - $4,000,934 Unamortized debt ASSETS—Cash, $164,163; sales tax collections, $40,708'/ payroll tax collections, $60,881; accounts receivable, less allowance for losses, $21,2.89; inventories, at the lower cost or market, $639,838; prepaid in¬ surance, taxes, etc., $56,205; lease deposit and other receivables, $3i,555; postwar excess profits tax credit, $88,000; equipment, leaseholds and improvements (after reserve for depreciation and amortization of $1,673,940), $609,494; goodwill and trademarks,.$1; total. $1,442,134. $2,791,554.■£ $477,353 . " • $227,295 (after , f/ "Y . $4,017,329 /S..-Treasury securftles.——. 17,800 , $205,392 excess $658,800. W" Increase 1945 . , $431,402 2,945,203 tax Prepayments 73,561 17,164 " Peoples Drug Stores, Ine.--^January Sales— * , '- $360,100 inc. Materials and supplies—.— $44,179 $924,624- // $580,395 *675,400 t353,100 ?702,100 (after post-war tax credit of .$15,800). T . \'i\7-'. - . ; $563,231 30.105 $65,100). tIncludes provision for Federal July on -2,304,517 exc. Notes ;and -1,590,604 $894,519 38,848 profit *Includes 1952, 1, 111,668 2,319,085 Accounts receivable/ Jess 1,364,714 int. . Jan. 90,287 162.622 $5 income for Cr2,7t>7 Special deposits 2,133,671 .80,470 /. , 1,921 —„_— $3,073,058 2,407,764 $928,644, 1,701,004 ;//: 193,095 physical property., Other investments, less reserve Sinking fund cash——. ——-d——__ 1942. 66,317 ' / 1943 $5485.135// 3,053,612 expenses.. ■ $6,417,119 Other U. 51,315 a a income, and *3,638,270 $6,426,701 special Utility 2952. p. 3,289,851 amort.-__J *392,298 ASSETS—' excl, of de¬ exps., 500,882 222,552 extent recovery :Earnings- $6,521,370 2,506,921 2,682,015 preciation and amort. DepreC. -//>/ 1,555,057 taxes__J preference Cash 1944 —$6,951,824 goods 1,633,012 $591,257 of of 1945 / Cost the -primary charges upon the company's net. earna .; a •-/ a .;■■/ >■>/• :./;:' :/:/''/"/// one of , ings." Years End. June 30— Sales the company, is;; paying the entire cost of plan," Mr. Bealft said, "we reserve the right " to modify or discontinue it if circum¬ stances warrant such; action, / However/we consider a sound retire¬ . - 10,332,880 1,956,236 174,248 is Pig'n Whistle Corp. (& Subs.) maximum 11,068,081 157,504 COMPARATIVE • years 883,859 319,036 to .the Interest 162, The pay 1945—12' Mos.—1944 $2,421,718 $28,649,520 $26,589,538 $555,116 cation three service. Salt drilling two age,of.65,..unless otherwise specifically, ordered by the board of directors,- famous believe \:t' 138,250 revenues- of been the Central Wyoming. Phillips is now -preparing sites for two additional loca¬ and four half-interest: wells are in¬ dicated 011 Phillips holdings totaling 1.880 acres acquired since the be¬ ginning of activity In the area two years ago.—V. down, at the ■ geologists 1945—Month—1945 $2,663,616 •• H* • (& Subs.)—^Earnings 234,251 Fed. Balance . Further extending its crude oil. production in the Rocky Mountain area, this company announces the completion of. two wells capable of: •producing 800 barrels of oil per day in the active Rangely. Colorado, field—which •' ■' w > Feb.' 8. on «•' • ; credit *The A company-financed > retirement, program which will affect. pUemployees, including houily workers, in the company's plants and of- V • Light Co. before special Balance 2,887,109 (t' ■" tax have ; • saving of over" 778,087 Phillips Petroleum Co.—More Wells Completed— ' . resulting from "carry¬ . Pennsylvania Salt Mfg. Co.—Retirement Plan—. . deduc. (net) Balance $33,287,404 $33,128,180 163. P. 231. price to be filed a by amendment.-s-V.. 163, 4,132,253 ' Total ' ' 1,459,523'!' —-*• —— public at filed be amortization & tax will four of 4,325,000 3,240,490 inc. Reduc. 6,331 - 748,161 4,415,182 — surplus "T 5 2,103,086 32,187 > • 461/413 - ,37,306 , the 916,081 oper. 266,000 >556,332 5,521 ; Reserves,,—-*.— 9,390,227 ; 843,339 ; • accrued .Unamortiz. 104,224 12,276,737 . Other • *38,468 •' a-'"/.-- 23,020 r to will ■/• ;• .'1 • & taxes Other ratio . :; 22;749 deposits__^-v__w2>"7269^074 taxes interest ; / •. Incomes Interest company the A V- ..i, \ \ Net - * 22,064 . : $701,715 . .. /3,240,779 3,122,912 418,992 extension Accrued ; Puget Sound Power Federal sold • Maintenance; Depreciation 2,500,000 17,350,000 150.000 .! : . . 1942 ' />■'///••:/ railway**.— / 11,314,508 railway—.L—1 1943 *214,157 Jan/l/—/./*>■;,;/*.•; //;/>'•/// : prior to 12-31-46 liabilities be . underwriters $3,200,000. 17,050,000 due \ . the . Other deposit current rights will • of the rights in exchange for five shares of 40preferred stock. Any stock , not taken upon 40 Operation 6,027 $33,287,404 $33,128,180 —$3,200,000 Under. certain conditions stock, series A, in ' preferred by Operating 'revenues—- 75,041 - • '• ' 6'« Period End. Dec. 31— 383,721 12,518 2,500,000 Accrued .$691,471 *28,098 * 108,932 . ' *> 123,663 debt notes Other va/ Vi* 'v 152,760 243,721 benefits___^_ ^ ilJ stock .Consumers' Main December— expenses-i.^-._4.".' of past .service debits stock Funded ' Pennsylvania Reading Seashore Lines—Earnings—. Gross 22,301 146,262 j__ Common .1,244,192 $516,881 - * and discount debt. 3,935 Serial Net Income funded of names 318.,' P. ' $2,235,924 1,612,729 i —— outstdg. of convertible exercise The 3,981 Total ; Preferred income Net interest and other deducts.—-* r~v. V 13,958 $2,233,953 I 238,712 the 214,674 *—7 on cumulative 115,508 198,551 V accompanied by amendment. 147,096 ___L $7,403,333 $1,891,920 : dividends, shares shares 1,422,343 1,483,385 ' ■ accrued accept 140,984 assets_________»_; exps. Undistributed Net- operating 'revenues^—$1,975,931 Rent from lease of plant—.-//j——. .247,510 supplies^_^__ current Unamortiz. plus 1944 1,324,922 y,^r141(319 Prepayments Special deposits ' • ; ' -1,660,909'- Other • $7,476,255 5,584,335 deductions-—-/; 6,284,816 revenue • "" ' 1945 bond3„w— receivable Materials /•:///>'.•?./-//' 1944 - -' 31 .■• 945 $29,280,399 $29,101,344 S. .{Government; Accounts Pacific Power & Light Co.—Earnings— :!.;:'v v i2 DEC. .'.• : plant Cash 908) page V'. '* 77' .'BALANCE SHEET, ' ASSETS— 7 Utility Investment News - COMMERCIAL & FINANCIAL CHRONICLE ■■'■."./.•'c ■!' General • THE / On with Oct, 5. certain principal 1945, banks amount of t' /-.-•mpany ente 1 Lijaig a for >00,000 to the company outstanding. !,into line be have ber giving eV After .*•• of ; /tandbv agreen. cr*/;. the "vgrevn.t ilable until a 1947, V-r: :>!r- THE COMMERCIAL & FINANCIAL CHRONICLE 946 subject to the provisions of said agreement. Any is to be evidenced by 90-day promissory notes the at of rate annum on the Rice-Stix Dry Goods Co.—Annual -Report— borrowing thereunder and to bear, interest 2% per annum with a standby charge of^ya> per unused portion of the total commitment. The standby date an upon may, $800,000 of notes HISTORY Jan. 28, AND $400,000 - was BUSINESS—Company incorporatedJn Ohioi on was ing Co. . of TheLincolnMotor WorX. of incorporation filed on May 28, to Reliance Electric and Engineer Main'office is located at 1088 Tvanhoe Road, N. E., Cleveland, 1907, under the corporate name is engaged principally " of its employee' security program, with sub* hospitalization, surgical, accident and sickness employees of Schenley and subsidiary companies under its comprehensive-Retirement and Benefit Plan, was announced Feb. 15 by the corporation. - -< i ' ■ N...... I .. ■ income ^Federal $4,062,442 . Federal & State and sale of and_ p yP Net *or°P®clf* The piade effectivfe without any additional contribuions considerably extend both the scope and amount of benefits available to SchenlCy workers under the plan, the announcement explained. $6,070,880 , - Besides the medical care' provisions, highlights of the broad Schenley / Retirement" and Benefit Plan include permanent life insurance pro- ;f tection for the worker plus an income for life when he retires; The ■- 500,000 530,000 3,600,000 2,450,000 3,820,000 company pays the entire ,C^3,059" 7 . $1,212,442 124,117 146,964 profit bn first pfd. Divs. - On 2d Dividends Shares Stock pfd. stock stock com. per — stock_'_ common on of Earnings (no $1,610,920 124,117. v 147,594 372,027 for par) 248,018 . , 315,899 248,018 share_^^;^^-i4-^^--/r'i BALANCE SHEET NOV. 30. $1,720,880 124,117 148,483 / 327.864 260,391 $5.40r. $3.80 After ,debt" retirement credit of $400,000 in 1944 . " and $1,008,956), $1,540,842; factory buildings and sites (after reserve depreciation $107,855), $114,693; machinery and equipment, (at $907,006; company's -principal customers. Dpring the first two months company's current fiscal year, about 52% of its sales was made to a like'-number of customers and about 48% in volume of the orders entered in these two months was received from, ten cus¬ depreciation), $168,556; LIABILITIES—Accounts payable, trade (incl. amount1 in the the thq, Unsub- Rome Cable ; .< , Shares j of Profit Hayden, Miller Co.—9.000 Hawley, Shepard & Co:L-.^.—— —^0%% McDonald & CO.'-.^-— - .4,000 v-. 13% % HS Maynard H/ Murch'& Co Merrill, Turben & Co. — CurtisS, House & Co.____— —V. ' 163, p. 820. 6% 2,000 — — • -o " profit reasons For ■ thr per Pour executive' Arch D, held • * , , ,' , „ ., l 1946 /' of mortgage and refunding Brook.—V. aiiiehdhieiit;" 162, p.. 3199. saying its plan of reorganization was now ready fojr asked the Interstate Commerce Commimssion Feb. I authority necessary to issue control or securities, over carriers; assume certain obr; the properties of affiliated Receivership proceedings have been in progress in Baltimore, With ancillary proceedings in other States; - ; , v The railroad asked'authority promptly to issue three shares of 189,830 . $426,111 $402,662' ' $2.12 " % 189,830 . stocks J89.830 essary which $1.14 * * $2.24, quarter "ended Dect; 317 4945/. net "prof it was ,$46,126, or 24 share, ——- share in compared with $144,040; or 76 cents per ended; Peq/31; 1944.-^; 162, p. 2519/ -. . ;; necessary corporate to are to enable action consist the reorganization preliminary to committee issuing of $32,500,000 of 1996; $52,500,000 the to other take on U. ; - , )) addition the railiroad asked authority to issue from time to time amounts of common stock up to 675,000 shares to comply with the conversion rights of ! the general mortgage bonds And the. preferred stock. / A total of $2,194,927i was shown payable to holders of bOnds not subject to the plan, this amount being exclusive of not to exceed $9,207,400, the maximum amount to be distributed to bondholders out / of earnings between May 31, 1945, and the consummation of the plan, under an order of the Federal District Court for the Eastern:' Circuit Court of Appeals at St. Louis affirmed Feb. 8 additional an by Federal District Judge George H. , • petition of bankruptcy in . May, 1933. - . • the court overruled contentions by the debtor railroad two minor claimants that stockholders, and unsecured should have equities in the reorganized railroad. In its opinion - • President and. V> Robert N, Barrett, head of the Service Department, was appointed ,* .-Assistant Secretary. >», M' !'<; W Robert"1 B.' Frederick; -formerly chief clerk in the Treasury Depart* smrntt -was -appointed Assistant Treasurer:""";^'■■■/ Edward P. Schultz, in7 charge of the mortgage and real estate division oi trie Treasury Department, was appointed Assistant Treasurer. company Secretary. creditors In f' Ry.—Reorganization Plan Up¬ Appeal— S, nec¬ securities, first mortgage 4% bonds. Series A, due Jan. 1, of general mortgage 4% % income bonds, Series A, due on Jan. 1, 2016; $15,000,000 of preferred stock, Series A, 5%, par $100, and 850,000 shares of (rio par) common; Moore approving the reor¬ ganization "of the company and numerous subsidiaries. The ruling was the climax of a 12-year reorganization .plah lollowinr the railroad's order of Pittsburgh—Promotions J West," formerly Secretary; was elected Vice Oct. on , promotions in' the home office of * this company are announced. $217,899? U -; St. Louis-Sah Francisco The • company, the stock; td arrange Reliance Life Insurance Co. Scran ton-Spring in ligations and acquire rights it is not always companies in exact alphabetical order. However, they are always as near alphabetical position as possible. " > •< possible 1 — shares/ Earnjpgs pej; share cents mechanical 1943 1944 105 , Net the three months NOTE-—For Interest The for $633,899:v^2,117,762- $1,939,681 416,000 1,715,100 1,513,569 charges^—— profits taxes/. ' Number ! of , . after Fed; Income & excess 13%% 6 4,000 4,000 , all consummation, 1945 at Seaboard Air Line Ry.—Set-Up Filed With ICC— Corp.—Earnings— 9 Months Ended Dec. 31— Common Stock! gold bonds; to the redemption : The names of the underwriters will 1>e filed' by' Preferred' scribed ■ preferred The company said it will, upon the request of FederarWater & Gas Corp., its parent, file a registration statement with respect to 1 000 000 shares of common stock, or such part thereof as may hereafter be offered by Federal Water & Gas Corp., and that Federal is subject to a" order, of the Securities and Exchange Commission to divest itself Treasury savings notes amounting to $3,000,000), $118,807; re¬ for contingencies, $2,500,000; 7% cumulative 1st preferred stocks, ' , redemption at 101 on 4% % gold bonds; to the redemption r.l 102 ™ A?B- ^ 1946- of $12,930,500 first w Dr$47?; .CMfieci; surplus, $4,123,775; tataV $17,252,770-^^ ^^63. P/ 23L •;/ y-*/- v ■''V;v'^ n'T•' f1-"'V' stock which each has severally and $1,000,000, together with to the extent required, will be applied Sept. l, 1946, of $10,961,000 first mort- i company gold bonds series.A, and to the redemption at 103 on June l 1946 $2,016,500 first mortgage and refunding 5% gold bonds series B, which, with interest, will approximate $35,325,208 v ! companies, $1,773,100; 7% cumulative 2d preferred stock, $2,098,233; common stock (248,017 shares, no par), $4,030,804; cost of common stock and premium on second preferred' stock purchased [ during the year, re¬ the of States serve of 5 transit), of funds the gage total, $17,252,776. of ■ the offering price filed by amendment. net proceeds from the sale of the bonds from a two-year bank loan at 2% of $7,800,000 first refunding mortgage 5% $349,381; accrued salaries and commissions. $1,150,905; deposit accounts of officers and others, $87,877; accrued .taxes and.other liabilities, $113,366; reserve for income1: and excess profits taxes (after deduction of United accounts payable to subsidiary - a The and to for CbiC-.Kegisteri . in subsidiary companies, $,439,261; other investments and $99,155; land and building (after reserve for depreciation after reserve aimed are " company on Feb. 8 filed general cost, which a after 30 registration statement with the SEC for $23,500,000 first mortgage bonds, due March J5 1976 and 100 00& shares of cumulative preferred stock, par $100. The interest and dividend rates will be fixed by amendment. : ;j -The bonds and preferred stock will be sold at competitive bidding and $421,000 in 1943. investments products pursuant to purchase orders received from its numerous customers and consequently has no con¬ tracts for the sale of its products upon which its business depends to any significant extent. During the fiscal year ended Oct. -31/ 1945, about 51 Vo in dollar volume of the company's sales was made to ten of retirement benefits cost assuring for Scranton-Spring- firootf Water Service' The advances, of at income of $1607 With SEC— $2,149,707; United States Government securities, at cost and accrued interest (alter amount applied against tax liability), $2,811,886; customers accounts receivable, (after reserve of $150,000 for discounts and doubtful accounts), $4,860,605; inventories, $5,068,071; sells most of its * " $2200-a-year married employee an anyears' service-^$68.60 monthly from the company and $65.33 from Social Security:—Vr 163, p. 468.'1. ; ' $5.56 / 1945 example, nual ASSETS—Cash, for percentages of unsubscribed common agreed'to purchase arenas: follows; . increases, by .employees, ^ tomers. UNDERWRITERS—The names of the underwriters and ; the spective number of sharer of convertible' preferred ^tock .and in to $5,929,614 ,141.267 ^1- $5,627,861 .400,000 income tax. profits tax.;—--.iprof, tax_i.w;; excess Divs. ranging generally ^TW^ompany available . Polyphase alternating current motors .are made in from 1 hp. to 250 hp. in a Y""** types, and direct current motors are built .in frame-W.ranging generally from 1 hp. to 500; hp. It also manufactures and sells electric generators, motor generator sets, gear motors, nu"e motors, Y S drives, industrial electronic control and conversion devices and electric. speed indicators. In the manufacture of its products, the company purchases, in the open market, raw materials such as copper wire, castings, electrical sheet steel, bar steel, copper bars, aluminum and insulating materials. It also purchases pertain^omponentpartsi such as control parts, ball bearings, brushes, . gears; andgear reducers which are incorporated in the company's finished product Fxppnt during the war when production for civilian use was re .. stricted, the company's products are sold to a wide list of either! for their own use or for application to machinerj which sizes M liberalization increases benefits i;—13,590 '' .. ;> Total purposes. frame Extensive stantial in the manufacture general-purpose electric motors, both direct current alternating current; and modifications of such motors power 1943 $3,873,229. $5,470,091 189,213 v>; 157,770 Post-war credit on exc. °hCompahy Schenley- Distillers Corp.—Increases Scope off Benefifs Under Employee Security Plan— ■;v : . , (net) Operating' profit Other income .(net/— By amendment■' to' its. articles 1909, corporate name was changed Co; 1944 1945" 30—. Renegotiation settle, for 1943 borrowed, making aggregate pi outstanding under said agreement as of rem o, ■"•aao.^ additional Nov. Sales, less discounts, etc_-r_i.i—-^. $37,662,614 $46,707,115 $46,936,753 Cost, selling; gen. & admin. exps.^_ 33,452,877 40,772,409' 40,652,756 Provision for- depreciation.:—91,611 97,754 100,356 Taxes (other than. Federal) 244.897 353,271 254,026 request of the company and If it ■ls. ®ot default thereunder, be extended to Oct. 31, 1948. As of Oct^ 31, 19 . $400 000 of notes were outstanding " thereunder but subsequent to saia agreement End. Years Monday, February 18, ■ 1946 -'District of and Virginia.-?—V.[163;. p." 660. - ''K \ ^ ^ •''• •i!-•/' 7c''Y'; vv;yf~^"»!.•);'^''1 the railroad's capitalization : Sears, Roebuck & Co;~^January Sales—; ^ should be increased above'the amount recomniended by the Interstate '^-"Period End/Jan. 31% 1946-*-Mohth^l94JT' Commerce Commission- to allow for consideration of claims of stockholders and unsecured creditors. Under the reorganization plan capi- ? Sales 105,845,576 74,493,402 1,089,298,604 1,015.382,935 talization was reduced from about $480,000,000 to $247,000,000. ; 163,'p. 821.; The Court observed that the plan had been accepted'by more than ;• ■ —V; 159, p. ■ 585. y.;!;■ two-thirds of the secured creditors and bondholders and had been Seattle Gas Co.—Paying Agent, etc.— confirmed by the District Court. < " ; Remington Arms Co., Inc.—Reviews War Years— "Certainly in those circumstances there should be no further delay The Bank of the Manhattan Company has been appointed as a paying This company disclosed many details of its wartime activities, in this proceeding, which already has been pending for more than agent and as an agent for the registry and transfer of first mortgage hitherto' restricted by military censorship, in a special report to twelve years,", the.opinion stated. %;!! bonds. 3%% series due 1976 of Seattle Gas Co. See offering in V. 163, stockholders, just issued by C. K. Davis, President and General, The Court put aside a contention that the money should be used to p. 319. ■ , • ■ Manager, reviewing • the entire war period ' 1940-45. pay claim!, asserting that the railroad as a going concern cannot be stranded for want of operating funds and that the money enhances ;; Expanding from 4,000 to 82,500 employes, Remington produced Selected Industries, Inc.—Annual Report— small arms ammunition/ Springfield rifles, artillery" fuzes and other new stocks and bonds for that purpose.—-V. I63, p. 468. ; 1 At Dec. 31, 1944, the net ; assets of company weiV equlvdlent' td materials for the armed forces valued at over $1,200,000,000, Mr.; $5,255 per $1,000 of bank debt; this coverage increased to $6,592 at Davis said. Complete production figures; made public for the first; San Jose Water Works—Earnings— Dec., 31, 1945. The prior stock coverage increased during the year time; indicate the company made 16,243,400,000 rounds of military from $120.96 to $160.12 a ammunition, or about 40% of total U. S. production. In addition share, while the convertible stock 'asset 12 Mos. End. Dec. 31— " 1945 1944 to three plants of its own; the company operated five new Govern¬ coverage, after allowing $100 a share for the prior stock, advanced / Operating revenues$1,074,905 : $988,778 from $11.90 to $34.14 a share. ment-owned plants for the Army Ordnance Department. VOperatingr expenses and depreciation^---^,—, 474,338 452,208 [ ; ^'Remington's production for the Government also included large INCOME STATEMENT FOR CALENDAR YEARS quantities of caliber 22 rifles and cartridges, shotguns, shot shells and Operating profit —/i..—$600,567 $536,569 1945 1944 1943 clay targets and traps,", the report stated/ * ; ; ^ 1943 ; Non-operating Income f 7,596 ,7/ ;; 6,048 Total income For the war years 1941-44, Remington's net income per dollar of $1,730,137 $1,674,755 $1,621,118 $1,729,733 General expenses sales and value Of production averaged only 1.2 cents, or less than 158,901 180,771 159,631 160,582 : Balance before deductions $608,163 $542,617 Interest one-sixth the average of 7.8 cents per dollar of sales in the peace¬ 138,032 138,017 154,604 174,688. Interest^ etc.,• deductions,«i»^.^ii.««.»-«j«^.i_-, 256,204 - ; 136,093 Taxes (other than inc.); time, years 1937-40, the stockholders were informed. The larger t21,636 34,776 ' 31,166 31,535 Provision .for Federal normal and surtax—101,880 101,880 Prior years" ovet-accru. ^ part of the company's war production was manufactured under fixedProvision for Federal excess-profits tax./„; * / [ 30,000 ' 92,985, fee, contracts, the income from which after taxes was less than 9/10 of capital stock tax. Cr4,669 of 1% of the value of materials produced, it was stated.—V. 162, p. Net income —1. "^$220,080 * $211,659 Net income $1,411,561 $1,341,190 $1,2751717 $1,367,597 -2823.j; ;■ ;/ Dividends, on preferred stock-__„__/____.^ ; 35,626; % r 35,626 Divs. $5.50 pfd,; StOCk-. 1,325,529 1,325,735 1,338,177 1,342,301 Dividends on common Divs, $1.50-pfd. stock. stocki/--^,^^Mn__/.i.R,« 160,174 ' 7 160,174 : 196,079 Republic Steel Corp,—Acquisition— J ' ■ Net profit on.sale of ' Surplus $24,279 $15,859 The company has acquired the machinery, equipment and inven¬ :. • investments 2,263,325 *2,129,487 114,289 •1,300,209 1 tory of the Westland Drawn Steel Co., Los Angeles, Calif., and has BALANCE SHEET AS OF DEC. 31, 1945 *Net loss. fThe: corporation haS. elected to be taxed as a regulated ' taken a short term lease on Westland's buildings, and property, it is: investment company and as such should have no material [ ASSETS—Plant; property,frights, franchises, etc.^ (after^ reserve lot liability announced. The Republic company plans to remove the machinery for Federal income tax for the year 1945 in respect of the above net depreciation of $1,166,033), $6,486,665; special deposits, $2,666; cash: and equipment to another location soon.' ' r Income. ; ' ? and working funds, $504,986; U. S. Government securities, $10,000; The facilities will be operated by Republic as part of its Union " " BALANCE SHEEP DEC. 31,' 1945 accounts receivable 1 'less reserve, $94,956; materials and supplies, Drawn Steel Division of Massillon, 0.—V. 162, p. 2312. ASSETSZ-Cash in ubanks, $507,718; investments hi U. S. Govern* $105,627; prepaid accounts, $40,458; miscellaneous deferred charges, : ment Securities (at cost), $1,300,000; investments in other securities: $1,078;. total, $7,248,436, :/ / v ^ ?? V ^ :'Reynolds International Pen Co.; Chicaco, 111.—Output $31,233,246; dividends and interest receivable; $131,993; receivable for tlABILmES—First mortgagef 3% bonds'; series' B, due: Nov; lj securities sold, $23,499; This company, which started operations five months ago, announced receivable for securities sold when issued:' 1975, $3,474,000; accounts payable, $49,691; accrued interest, $20;80i,' $182,752; special deposits for dividends on Feb; 8 that it has manufactured and sold (contra), $369,726; total; 1,500,000 ball-point pens /v accrued taxes, $181,168; accrued miscellaneous and dividends, $20,206; $33,748,934. : ;£ since'October.-1945. - V: ':•> .;: V: consumers', meter deposits, $9,132; consumers' extension deposits, : Revealing production records for the'first time, Milton Reynolds, % LIABILITIES—Dividends payable, $369,726; due for securities loaned $73,402; contributions for extensions, $61,437; uhamortized premium Chairman of the board, said the company is currently producing against; cash, $43,000; due for securities purchased, $14,336; due for on debt and expense, $95,979; 4%% accumulative preferred stock 30,000 units per day as compared with 70 per day on Oct. 7, 1945. securities purchased when Issued, $269,127; reserves for expenses, (par $25), $750,000; common stock taxes,/ (par $25), $2,002,175; capital Reynolds has become one of the more important users of aluminum in etc.r $78,201; bank loans due March 1, 1947, interest 2% per annum, surplus, $131,994; earned surplus, $378,450; total, $7,248,436.—-V. 163; civilian goods in American industry, he added ■ $6,900,00; $5.50 cumulative prior stock, ($25 par)/ $6,025,000; $1.50 P. 468. " Gross retail sales, Mr. Reynolds said, have totaled $18,500,000; less cumulative convertible stock, ($5 par), $2,121,585; common stock, <$i than a half-year after the company started with a capital of $26,000. / par), $2,056,940; surplus, $15,871,018; total, $33,748,934.—V. 162, > Scotten, Dillon Co.r The pen, which utilizes a tiny ball-bearing rotatable in a socket, is -Earnings— p.* 31% „ i being produced with the aid of manufacturing advances resulting Years End. Dec: 31— 1945 / 1944';' 1943 1942 v from the great strides made during the war period in mass production Incomes from operations $114,890 $163,264 $205,324: ? $329,842 '! Sheller Manufacturing Corp.—Stock Split Approved— of high-precision assemblies. Other income (net) 21,316 ' 18,032 44,884 57,866 The stockholders on Feb. 9 approved the issuing of three shares'for Reynolds now has 50,000 dealers and distributors lin the U. S. and -L each two shares now outstanding, abroad, and current plans call for the signing of contracts in every according to M. M. Burgess, Presi¬ Net inc. bef. inc. tS.x_ $136,206 $181,296 $387,708; $250,208 dent. "*"• /. '/.'v'-V:. fireign country by early spring, he said. Prov. for Fed. inc. tax. 49,014 71.704 94.256 144.32.1 The company's capital stock has been increased from Franklin Lamb is President of the company. 250,0o5 shares to 500,000 shares.—V, 163, p. 660. ^ Net income : ! $87,193 -w.- ' --.r...-i :'.0 I'1V- v!': $109,592 $155,953 $243,387 Agreement Obtained in Fair Trade Case— Dividends paid ; 120,000 165,000 270,000 300,000 U. S. District Court Judge Harry E. Kalodner at Philadelphia, Pa., Simonds Saw & Steel Co.—Earnings— Earnings per com. share $0.29 - V; $0.37 $0.51 $0.81 on Feb. 8 approved a stipulation between counseLfor this company; Calendar Years— 1945 1944 BALANCE SHEET, DEC. 31, 1945 and the L. S. Model Co., Philadelphia, in which the former concern • " •Net sales $22,067,180 $25,123,512 withdrew its fair trade suit after the defendant agreed'not to advertise ASSETS—Cash on hand and in banks, $236,008; U. S. Government tNet income —1,306,886 1,391,229 or sell the Reynolds pen at less than the established retail price of Common securities, including- accrued interest at cost (market value $867,189), shares'outstanding 497,000 497 000 $12.50. Earned per $766,439; accounts receivable" (less reserve of $8,886) $241,897; Inven¬ $2.62 $2.89 The Model company also agreed that it would comply with the" tories, $2,069,001; land, buildings, machinery and equipment (after re¬ •After settlement of renegotiation. fAfter settlement of renegotia¬ Pennsylvania Fair Trade Practice Act, that an injunction Could be serve for depreciation of $460,191), $292,614; prepaid insurance, taxes tion of war contract sales and provision for Federal and issued against it in event of a violation, and that should it discon¬ Canadian and supplies, $27,809; total, $3,633,858. taxes on Income. tinue to handle the product it would first offer the merchandise to At the close of 1945/ current assets Amounted to the manufacturer at invoiced prices. LIABILITIES—Accounts payable, $17,010; accrued taxes and ex¬ $11,223,739 and" current liabilities were $1,475,955. The excess of current assets over Edward L. Frater. Reynolds counsel, had obtained a penses, $128,074; provision for Federal income tax; $49,014; capital temporary re¬ current liabilities was $9,747,784 compared with $8,331,903 at the straining order against Model 'in U. S. District Court on Feb 5 in com¬ stock (par $10), $3,000,000; earned surplus^ $539,761; total, $3,633,858. end Of 1944.—V. 163, p. 821. plaint seeking an injunction and damages in excess of $100,000 —V. 163, p. 660, 'The , principal contention "was that ^' . , .. , ^ ; . . . , « . . , . • " — — . . —___ . - 1 , . . . , . . • ' , ' • - • . _ • . ' , . • - : ' . ,, , . V THE COMMERCIAL & FINANCIAL CHRONICLE Number 4465 Volume 163 The classification of these special required by a regulatory com¬ property by a subsidiary company. charges under "other deductions" Corp.—Registered Stock Increased— Sinclair Oil An amendment has' been filed with the SEC Increasing the number of shares .of common stock registered to 150,000 shares, as compared with 100,000 shares covered in the registration statement filed on.Dec. 26. 1945. The amendment overstating The shares should . states the is not selling any of the com- company reduced by these special items and to do so results in net earnings from operations and gross income by such be not amounts.—V. 163, p. 660. share. at • , and Bank Chemical The & Trust Co., to .,v ^ , Casket 1941, in New 'company The ■ - motors, and trailers utility pose boat lift-carrier trucks ior and carriers, and barrels and did SUMMARY OP SALES AND A and / • ;■ Before 1945 (l0 Months) $ 1,143,020 —,— announced. manufactured of Solar's at stain¬ a RR.—Invitation Pacific Southern Ry. Gross . taxes 626,635 income 77,800 31,400 980,000 669,000 accruals 40,833 53,333 490,000 $89,412. 1,006 $106,422 $1,220,916 $90,418 $107,462 on res. 479,248 465,000 ; ' income- • net—■*.. income ' 1,040 '/• $1,351,844 4,111 6,334* ' , $1,227,249 24,426 $1,355,953 37,754 $83,035 3,213 ■ $1,189,495 VBALANCE 78,406 .v.-. $1,277,549 SHEET, DEC. 31 ' ifw 1944 ; $23,061,856 $21,458,147 — 399,569' 388,752 ———-——-—— Claim lor reiund of Federal taxes 275,000 800,000 57 966 542,385 416',478 524,122. a/c rate set¬ tlement 168,793 168,793 L Prepayments 29,801 Deferred debits'3 689' Bids for Pur¬ for $87,205 1— plant ' 80,646 3,828 $24^02,333 $23,977,494 Liabilities-^, i - Common stock (597,866 shares, Promissory note, 2%%, due 1953 Accounts payable Customers' deposits $11,959,993 $11,959,993 par) no 1,000,000 Interest 44,569 — credits Z_ZZZZZZZZZ Reserve ,for retirement—„J_W-Z _ZZ Z~Z Reserve for uncollectible accounts_;—_.„ Reserve . for injuries surplus Earned 246,257 378,207 338,048 1,110,038 accrued Deferred 1,000,000 240,657 ■Taxes,-accrued'; and damages—; 799,879 : 43,803 ; 8,952 ... '121,065 > 6,356,527 112,010 . ,, 31,127 —_ : 3,247,428 71,889 I 6,760^297 i. —— Tr04!1 -Gross Earnings— « 34,717. 3,014,370 -V. earnings commissions, but before deducting expenses esti¬ is hot always possible,y as ,« ; * % • • company offer will expire oh'Feb. 20. Preference shares not taken included in the ' , in exchange Tel Autograph Federal normal Federal excess Net on the largest indutsrial employer of chemical personnel in the Chicago area and one of the largest in the Midwest. Upon com- house 420 chemists, engineers, chemical and taxes 1944 •; $78,765 profit, net of post-war refund— $77,956 28,000 surtax., 26,500 3,978 2,367 . $48,398 $47,478 $0.21 INCOME STATEMENT CALENDAR FOR Z $0.21 YEARS " .Income 1945 /./ 1944 ? ]/ $1,087,134 $1,011,278 ■ —— Expenses, inch deprec. and except Federal taxes, all other expenses * 773,221- Federal normal tax and surtax as they will and ——— CONDENSED announced on Feb. 17. Covering two city blocks; adjacent to Standard's Whiting, Ind., refinery, the new laboratories "will be ready for occupancy eatIy in 1947. The new laboratories will further: strengthen the positi6nf of this pletion tax profit Net profit per share,,, Standard Oil Co. of Indiana—New Laboratories— company 1045' Net Barney & Co. and the First Boston Corp.—V. 163, p. 822. started Corp.—Earnings— Quarter Ended Dec. 31— profit before Federal income ,< exchange, together with 3,023 shares offer, will be purchased by Smith, pany $8,000, will be $182,000. All of the proceeds received by will be added to working fapltal. ' If the underwriter, after completing its program to sell 70,000 shares of common stock for the account of the company, sells an additional 12,000 shares for the account of the selling stockholders, the net proceeds to the selling stockholders after deducting under¬ writing discounts or commissions, but before deducting their pro rata share of the expeness, will be $31,20£L«—V, 163, p. 821. it reasons to arrange companies in exact alphabetical However, they are always as near alphabetical position Co^Ex^hsinge/Offer-^ is offering to Holders of its 46,977 Shares of $5 pre¬ ferred stock the right to exchange for new $3.75 preference stock on a share-for-share basis, plus a cash payment Of $1.37y2 a share. The the company ; NOTE—For mechanical possible (A, Fi) stalky Manufacturing not ' 1945 order. The $24,902,333' $23,917,494 — 469. p. 1946 1945 $7,036,819 $27,621,902 $36,888,425 1946 $5,127,378 163/p. 822. Construction has at — „ 163, —Week End. Feb. 7—; -——Jan. 1 to Feb. 7—— „ the underwriter fulfills its commitment for 20,000 sells an additional 50,000 shares for the account of the the net proceeds to the company, after deducting under¬ or 668,522 /Total-;. .'/• and "discounts 63,758 . of Period— PURPOSE—If mated 64,858 ■ u. S. Government securities.>^iJ-_-iWi.w^_wi-^ Accounts.receivable Materials, and V buildings for the extensive new petro¬ leum. research laboratories at Hammond, Ind., near Chicago, the com¬ writing 509,179 1945 reserved for the exercise of options. company, 3,771,585 46,031 COMPARATIVE Utility —V. shares $7,363,312 3,832,003 43,537 M- The company has issued requests for bids for $50,000,000 first mtge. bonds, Series F, to be dated Jan. 1, 1946; to mature Jan. I, 1996; to bear interest (payable semi-annually on Jan. 1 and July 1 of each year) at a rate (which must be a multiple of Vsth of 1%) to be named by the accepted bidder; and to be secured by the railroad company's firsts mortgage, dated as of July 1, 1945, as supplemented by first and second supplemental indentures, each dated as of Jan, 1, 1946, to The Cnase National Bank, New York, as trustee. The bonds of Series F will be guaranteed unconditionally as to both principal and interest by endorsement by Southern Pacific Co. "-V The bids must be submitted by 12 noon, E.S.T., Feb. 18 at company's office, 165 Broadway, New York 6, N. Y.—V. 163, p. 821. $42,733 ,.d/ - 1945—12 Mos.—1944 $7,700,620 341,885 Net income chase of Bonds— . ■ - 327,332 „ taxes Gross Diego ' San 18,329 1944—,—-———**0,760 12,820 79,261 »791,237 CAPITALI2ATlON-^Company ©riglaiilly had an authorized* capital fef $10,000, consisting of 2,C00 shares of common stock ($5 par), all of which was issued and outstanding. B an amendment to its articles of incorporation filed on Jan. 13, 1916,. the company's authorized capital was; changed to SOO.OOJ share , of common %tock < par 4(te.) and the 2,000 shares common stock of $5 par were exchanged for / 168,000 shares of common stock (par 40c.). If and when the financing is completed and all the shares being offer 2d are issued, the capitaliza¬ tion of the company will consist of 250,000 shares of common stock, all of -which will be issued and outstanding, and 50,000 authorized but unissued shares of common stock of which 15,000 shares Wilt bo 1943—— be¬ $642,830 Utility Oper. income, rras« output Southern After - Nation-wide distribution being already Taxes \$ 155,133 62,510 < •> '• %i maintained be Net Fed. Taxes Gros« Bales ' ■ will $643,773 Other this company for the week ended Feb. 9, 1946, totaled 2,101,000 kwh., as compared with 2,098,000 kwh. for the cor¬ responding week last year, an increase of 0.1% .—V. 163/p. 821. • Profit Net Profit ,'*• 1 ■ *•v flights accommodate the heavy traffic winter season.—V. 163, p. 469. 1945—Month—1944 v revenues Retirem't 162. p. 2024. Electric and profits both before past two years and 10 ended Oct. 31* 1945, is ret forth below: Casket and Film Into Southern Colorado Power Co.—Weekly Output— EARNINGS summary of the company's gross sales after Federal taxes on income for the months' period with to during the Period End. Dec. 31— General plant is planned* v > , ' The "acquisition rfef Fohda Machinery Co., 'Inc., of Los Angeles was also announced by Solar. This firm will Operate as the Fonda film processing machinery division. Much of the machinery of the plant already has been moved to San Diego, where operations will be resumed on equipment for developing motion picture microfilm and color film. —V. considerable experimental and development work thereon. It engaged in the manufacture of parts for other manufacturers. All of this work was interrupted by the war. ; ; Beginning about January, 1942, the company rapidly adapted its facilities to the production of war equipment exclusively and, except for the last half of 1945, has been to engaged since that time. A varietv of ordnance products were produced in quantity either directly for the Army and Navy or under sub-contract for some of the prin¬ cipal manufacturers of the United States. ■ '■ The company has now begun the manufacture of ptodWtknwr civilian Use, Company is experiencing no serious problems in eon* nection with the reconversion of its plant. The company is now engaged in the manufacture and sale of electric outboard motors, trailer hitches, cereal cutters (a farm implement), boat carriers and utility trailers. These products were either developed originally by the company or acquired By the company ana further developed by its research and engineering department. drums together r was originally established for the manufacture of fire extinguishers, trailer hitches, dual pur¬ was outboard electric , numerous March, Operation Maintenance 773. 161, p. Co.—Expands been casket Steel less has Co. York, trip charter flights between Miami - indicates and cities two Operating :;v The company has announced the acquisition of Hubbard Casket Manufacturing Co. in San Diego, Calif., and incorporation of Hubbard incorporated ^06t,_27» York.. Principal office and plant located at 282 Central AND BUSINESS—Company Aircraft round Tampa Electric Co. -Earnings— /: Lines— Corporation Xo.i; 16(LBroadway,.New Marine Midland Trust Co., 120 Broadway, New York. Registrar, total/ $2,328,033.—V. Solar demand the Federal Transfer Agetit, United States HISTORY tween and taxes accrued $855,212; Beill6y & Co., New York, on Febi 8 offered 82,000 shares of common stock (par 40 cents) at $3.25 per share. Of the shares offered 70,000 are for the account of the com¬ pany and 12,000 shares are for the account of selling stockholders. The stock is offered as a speculation. York. plant property, daily and 25 minutes. Present through February estimated Corp.-^Stocks Offered-—F* Creek Precision Silver . $8,975; , New Havana .hour payable to -banks, $300,000; accounts payable, (local), $13,490; Federal taxes on income— (net), $186,276; reserve for postwar adjustments and other contingencies, $75,000; 6% preferred stock, (par $100), $324,800; common stock (45,740 shares no par), $457,400; earned surplus, $115,855; given agent assets, per redemption"' Co., deferred charges, $46,116; total, $2,328,033. $578,510; (net), cents immediate Trust nounced LIABILITIES—Notes N. Y„ has been ap¬ York, New pursuant to the option of exchange holders of the 20-year 4% debentures due April 1, s 1960, . exchange pointed equipment other $653,347; inventories, 417; _ Appointed— Sherry, Inc.—Exchange Agent next, 1,050 stock, series 81 to have been contracted for by this corporation, it is an¬ by Charles L, Gallo, Vice President in charge of Traffic. The new charter flights will bring the daily total to seven between the two cities in high speed aircraft that make the trip in only one * . (Louis) the 4, preferred amounting present called shares for Central Hanover Bank & may at Numerous additional iff: 4 , time March on cumulative dividends p TACA Airways, S. A.—Increases Service— . . Holders any redemption $4.50 and and will receive the full redemption price accrued interest to March 4, 1946—y. 163, p. 695. formerly held in the treasury were per, share N..,.Y.,; statement. The shares being and were purchased by H. P. Smith Agricultural Chemical Co., Columbus, 0.-~ Sinclair, president and a director, on July 17, 1944, pursuant to a contract dated April 11, 1944. The'sale was at $13.25 a share, or «n;V Earnings— ■ • V 1944 ■> 1943 Fiscal Years Ended Oct, 31— 1945 aggregate of $1,987,500, payable on or before June 1, 1947, tfith interest at 3'< ' : V V ;;Grbss:-:saleS:';-^ii^------.,'-^^fe^«-.®;;$4,88l,624;'- $4,757,331 $4,233,710 Net profit 156,266 167,184 after taxes 167,843 According to the amendment, Kuhn, Loeb & Co. has been appointed $2.99 : $3.23 Earnings per common share.* • $3.24 by Mr. Sinclair as his agent and broker to sell all of or ally part of the 150,000 shares of common, and lias agreed to buy from Mr. Sin¬ BALANCE SHEET, OCT. 31, 1945 clair such of the shares not sold for his account. ASSETS—Cash on hand and demand deposits, $424,368;. U, S. The price to the public, will be filed by amendment.-—V. 163, p. 232, Government obligations (at cost), $161,299; accounts receivable, $455,82i. sold the registration covered, by stock mon $103.50 for company has called of its outstanding A/at opinion of the company, in which their independent concur,: the amount of taxes chargeable to operations accountants Sun Chemical Corp.—Calls $4.50 Preferred Stock— v is mission and in the •• 947 Federal excess 5 . /, 110,000 698,092 106,000 28,200 profit, net of post-war refund 36,900 , other Net profit $175,713 Net profit per share—$0.77 CURRENT ASSETS CURRENT LIABILITIES, AND CURRENT ASSETS— $170,286 - — scientists, along With 800 technicians and other assistants. Ground was broken for the new laboratories in September of 1943.— V. 163, p. 320. $0.75 31 DEC. 1945 1944 $243,907 234,785 $206,959 354,765 125,007 • Cash Standard Oil Co. Sinclair Oil Co.—Subsidiary Completes New Well— Prairie Oil Co. reports the completion of well The Sinclair Teuscher In a move designed to give for 138 barrels of clean 35 gravity This is a wildcat development on located north of the town of Arcadia. Logan County, Oklahoma, oil in the first five hours of flow. No. in 1 block unit a —V. of 800 acres (New Jersey) on demand deposit and on hand,, V. S-.Govt obligations, at-realizable'amount,, Accounts receivable, less reserve Sundry debtors „• Unit Consolidates — Departments— ment and technical organization consolidation The Inventories Standard Oil Development Co., central of Standard Oil Co. (New Jersey), announced its two engineering departments. into one organization more than 400 The directors on Feb. 11 declared initial quarterly dividends Sterling Drug, Inc., Detroit, Mich.—Division Expands of 40 cents per share were made on the old Total common Manufacture „ $f2.50 per share, to be outstanding hereafter. new of additional common be INCOME STATEMENT FOR THE 12 MONTHS ENDED DEC. 31 (Subsidiary companies not consolidated herein} ' . : revenues Operating .... — About Maintenance -—— . — depreciation^ than Federal income taxes Provision for est. Fedefal income taxes excess profits tax payable) tron, Net Other : Gross Interest income . — Interest •Special Amortiz. Interest list & will The leaders Pepsencia, Holadin, and Bile Salts. To make department has been added: to the Detroit plant. announcing the the are -—.—■ $1,386,458 353,389 15,113 4.620 $1,520,608 360,000 16,250 4,488 - 327,308 ; 37,357 ] Cr3,264 Wesley _M. 37,357 : —. Chairman election of Gordon G. Hoit J. as Gasser as Controller. and Edwin C. Roworth the important Mr. Hoit of the office was of elected sibility and since Mr. Corporate Controller Roworth joining Other organization Board, Wilbur leaves Stromberg-Carlson Co. Ltd. Controller the first has the W. continues Hetzel division mortgage 2% % bonds due 1975 are now available Bank, Fort Worth, or; at the Bankers / 16 Wall St., New York, bonds.—V, 162, p. 2063. N, Y., in exchange for temporary Realty Broadway (Herald Square Build¬ Corp. The :corporation has invited tenders of its first mortgage leasehold sinking fund income bonds, dufe May 1, 1948. Tenders must be made before 12 o'clock noon on March 5, 1946, and notices of ac¬ ceptance or rejection will be mailed on or before March 9, 1946. The York Trust.Co., agent, company has deposited $14,000 with the New the purchase of the bonds but reserves the as to > requiring the disbursement of cash in excess sinking fund purposes.—V. 161, p. 2340. oiv, in April,-1945. of Canada. Mr. positions of Stromberg-Carlson in 1905. changes announced were increasing the transfer of respon¬ * ' i'/ the pur¬ R. from from from Net ry. * 1— 170,031 163,717 5,223,265 2,958,523 2,403,093 4,819,169 * Oct. The operations 1, Firemen company amounts > above •' do 2,710,434 2,343,144 3,230,356" 1,388,347 ;T,033,024 ' not include receipts and ex¬ corporate office subsequent to 6:00 p. m, on March Federal Manager's operations terminated 12:01 a. m* 1945. and shown < . 3,740,450 1,793,077 1,395,537 income of 1942. on division, 187,384 ' penditures department to the manufacturing division, headed by Sidney/.] Curtis, Vice-President in charge of manufacturing, and the shift management to the industrial relations and properties directed by George E. Eyer, Works Manager.—V. 163, p. 233. 196,294 v Deficit. the office $356,354 203,278 *13,258 railway,,,, NOTE—The 22, $425,585 223,216 1945 railway oper. 1942 1944 $422,372 *11,242 . income-*,, Jan. From Gross Net 1943 $10,605 * railway-'-—-- Net ry. oper. Gasser was Assistant held chasing of Net Treas- Mr. right to accept tender^ of $74,000 for future Toledo Peoria & Western RR.—Earnings— Gross from /railway—i-i- take - on-or Angle. He is also Treasurer succeeding $507,742 ::: announced the' charge of finance, and financial Secretary $414,926 Worth: National Fort 1350 recently Vice-President in Lester urer of $185,743 ing), N. Y. City—Invites Tenders— ■ Angle, — , $209,370 a new - 147,000 25,000 liabilities Co,, December— 438,908 Crl,818 the Trust Gas- products, current 17,490 13,650 138,200 income on Texas Electric Service Co.—Definitive Bonds- by Stearns marketed be Foster." $7,603 on 18,705 18,627 working capital, at Stromberg-Carlson Co.—Changes in Personnel— income the taxes - for Federal taxes Definitive Co., Sterling, Inc.—Scrip Being Paid— 90,104 .——•—$651,934 $665,422 WThe special charge in 1945 is equivalent to the estimated reduction in consolidated Federal taxes on income resulting from deductions of/ costs applicable to refinancing of bonds and thaf in 1944 is equivalent to the reduction of such taxes resulting from loss on sale of railway Net on Fairchild Brothers Federal —V. 162, p. 2063. which The Manufacturers Trust Co./New York, N. Y.f has been appointed script redemption agent to pay for scrip expiring Dec. 31, 1945 at the rate of 65 cents per l/20th.^V. 162, p. 3237.» 137,389 ' ,135,287 long-term debt— of debt discount and expense on unfunded debt—— charges —,— — ef utility plant acquisition adjustments charges to construction,—_ —. on Amortization products by the Winthrop Chemical Phisoderm and Enzymol. than for ; ; to —V: 163, p. 695. 481,557 198,378 Net $1,249,069//$1,385)321" from operations (net)—-— earnings income * (no — trade-marks other three The distributed other taxes, ' arrangement, Dr. Hiebert stated that medi¬ cal interest in replacement therapy involving the products acquired appears to be greatly stimulated at the present time. The demand is heavy for the preparations now added to the Stearns list, he said. All are prescription specialties sold through the medical profession. 140,626 290,297 292,698 487,670 for Taxes other and $693,485 $8,838 Long-term debt due within one year • 1944. 161,713 50 "Successors as $3,812,328 1,424,422 1,605,266 Operation Provision 1945 $3,994,993 manufactured Rensselaer, N. Y. are Marinol, In V Reserve distribution of all but three products of Fairchild ' T6 Laight St., New York, N. Y., has been taken Over " Manager of the Stearns* division. General will 118,938 shares and $624,296 Other accruals by the Frederick Stearns & Co. Division, Sterling Drug Inc., Detroit, it was announced on Feb. 12 by Dr. J. Mark Hiebert, Vice President and stock of $12.50 par. In this connection the 118,938 shares of old common. stock of $25 par have been changed to 237,876 shares of common stock of $12.50 par per share, which with the additional, shares sold in December, 1945, total 356,814 shares Of common" stock, par stock ferred and Brothers & Foster, , 5,434 income . stock of $25 par on Feb. *10, May 10, Aug. 10 and Nov. 10, last year. The old common stock was recently split up on a two-forrone basis. In December, 1945, the company refinanced $9,000,000 Of firstmortgage 4%' bonds and 47,954 shares of 7% preferred stock and issued $8,000,000 first mortgage and collateral trust bonds, 2%% series due 1975, and issued 38,000 shares of 3.90% cumulative pre¬ of 1,320 4,826 payable Accrued Process pendently 97 Va cents per share on the new 3.90'/^ preferred stock and 32 y2 cents per share on the new $12.50 par common stock, both payable March 1 to; stockholders of record Feb. 19. Regular quarterly distributions supplies CURRENT LIABILITIES— Accounts Engineering Department which have operated inde¬ for nearly 10 years. The new organization, named the Esso Engineering Department, is directed by E. W. Luster, Chief Engineer, who reports to Dr. N. E. Loomis, Vice President in charge of engineering—V. 163, p. 695. •. the and Electric Co.—Initial Dividends— marketable Total current assets brings scientists and other employees of the General Engineering Department Sioux City Gas & of 139,282 1,496 ' 13 consolidation of Feb. on 163, pp. 621 and 232. greater emphasis to mechanical develop¬ engineering research, — In a the operations the Brotherhood of Locomotive who demanded that the road continue conditions as under Federal management, suspended.—V. 163, p. 469. dispute with Engineers, under same were THE COMMERCIAL & FINANCIAL CHRONICLE 948 "UARCO" etc.— Tide Water Associated Oil Co.—Prepays Notes, in the prepayment in January of $4,dOO,000 of its serial'notes, due 1945-1954, thereby reducing'the total outstanding to $17,250,000 on Jan. 31; The notes paid were scheduled to mature onehalf on Aug. 15, 1953, and one-half on Aug. 15, 1954. The company also reveals that no refund to the Government was necessary under renegotiation oi contracts for the year ended Dec. 31, 1943. Sales for the three months ended Dec, 31, 1945, totaled $48,275,000.^ Unfilled war contracts at the year end were $3,926,000, compared with $6,027,-. 000 at the end of the previous quarter.—V, 163, p. 695. ' ' " > V the the transaction was $74,000." L. Cleveland is Vice-President R. M. Erlckson. is Secretary, The First National Bank Building, f 15 East . . and General offices has company American emphasized accounted for market." the much as In addition and in saturating paper and fabrics- for shoe parts and artificial leathers; in the backing of pile fabrics for upholstery and carpet, manufac¬ turing; and in the solutioning bf tire coird, v "A new synthetic rubber with 'special processing qualities'required for footwear; another for the lining of corrosion resistant tanks; name need being growing for ' re¬ inherent in attention • v . for Changed— ■ Register Chicago—Name Co., ^ ,-h' ■ \'■ See UARCO.'Inc. above.—V. 429.;;(1 126, p. f■V"1 ■ J'-y'■ /■ United Corp.—Seeks Exchange of Stock— ; Corporation has asked the Securities and Exchange Commission a proposal to tender 606,620 shares of capital stock of the United Gas Improvement Co, to UG! in exchange for the following: 60,662 shares of- common of American Waterworks & Electric Co., Inc., 727,944 shares of common of Commonwealth & Southern Corp.; 60,662 shares of 5% cumulative second preferred Series A of. Niagara Hudson Power- Corp., and 60,662 shares of common of United of the employees who temporarily left for military service returning, and are being given every consideration, the report one who wishes to return has been placed in his former job, in an equivalent job satisfactory to him, in a better job for which he has qualified since leaving us, or, if he has been incapacitated, in a job suited to his capabilities. ,;;y :■' •,, yyyy. y;,, ' American of Service Corp, of New Jersey. y " also would sell to UGI up to 12,000 additional shares Waterworks stock if needed in the exchange. The is transaction in of itself divest UGI.—V. keeping 163, the Presidents— with greater p. ■:823. SEC order its / an capital of part Uy-%.;• United Merchants y ; that Corp* holdings of United stock ;v •• ;• ;■???; V"' Jvy''-;,V ! yV'':C ;:":r 1945 "vvti' /'.y.' Net sale*, , Dividend income $626,472 $2,536,320 41,462 99,570 Br20,535 Europe as y\y;yy[-y.'y "".'.i;':'.;.: ;; ; Gross income; — — Income charges on, '.-'J':- ,;a.• Federal for Prov. proposed route is 9.792 miles, or 384 miles shorter than a proposed route via Miami, Florida, and Natal, its application TWA declared that it intended to use modern four-engine planes on. the proposed route. It was a TWA Constella¬ tion which on' Feb. 11 landed at, Johannesburg,.after,.a record-breaking flight in which it covered the 9,792 miles from New York in less than 39 hours flying time. This plane followed the airlines present Great Circle route-via Newfoundland." Ireland, France and Egypt* and flew the 3,370 miles, from .Cairo to Nchanga, Northern Rhodesia, non-stop, —V. 162, p. 3239, ^ • * ,5 132,880 278,183 $800,814 In $2,914,073 334,236 62,288 income -L' $458,526 > $1,447,837 $501,162 - will be. released when directors, it was announced. His eldest son, H. C. Turner, Jr., Vice-President in charge of the Philadelphia territory, has been , ■- Ry. 1945—Month—1944 - ."'A$ oper. revenues!—__ 27,689.334 oper. expenses 36,096,059 $ Net fr. rev. ry, - * : Cr8,881,044 — Equip, and joint facility rents (net) ; inc. from from Income invest, sources Total 13 947 665 .1432.191 income ^—-— 1 net ot' sales Fixed Net and 31 107 5S3 was considered Jb^b.uxo 16,595,894 20,401,418 3,001,124 47,703,447 14,671,867 56,927,433 15,856,539 33,031,580 41,070,894 fReleased from funds U. Total on for Dividends 1,856,311 sourc. 1.144.813 5,013,954 "reserve 8, Govt, against possible re- shipments"' 1;618,699 disposition—2 a write-off of unnecessary 3,981,724 for Balance cent, on common common st'ock— stock__ . ' - • fIncludes Federal $8,479,466 income and s It 17.071 received. an unamortized of Plants balance cost or portion thereof, certified 124 the respect to such facilities of being ended by proclamation of President. JITo offset reduction in net income resulting from refunds on ship¬ ments transported in prior years, of the difference between commercial rate3 and land grant rates.—V. 163, p. 823. . j UARCO* Inc., Chicago—New Name, Etc.— W. R. Barker. from United President,' on name proposed expansion Feb. -11 announced a change in the lirm Autographic Register Co. to "UARCO, Inc." and a expenditure of $1,000,000 during the next two years. 39,944 , . 7,443.773 . 1,401,422 2.538,082 2.132,078 .30,153,073; 12,091,332 19,018,429 . 7JV-' in 1945 to earnings. • ; 36,778,213 4,597,734 ' 4,379,423- 2,653,337 10,787,68® ; 5,682,285. 688,979 1,604,048 1,287,461 i 6,735,011 179,614,284 Crl57,733,903 €rl22,640,669 ;/ ; 1,359,846 : 1,205,177 6,814,247 203,267,044 equipment fbr depreciation , : ; A; 10-year reflected in the : A. , in handling and shipping. serial and 10,787,685 2,653,337 bank notes (maturing 24,000,000 1,675,000 insurance-, ' for' pensions— 27,000,000 1,650,000 1,490,324 4,185,174 —' V 1,223,73 7 reserves - 5,917,432 405,565 65,109,100 ?. . Common stock ($10 par)— ; 17,590,920* 17,590,920 , surplus 12,427,166 Earned surplus. 39,190,643 Capital , 11,827,166 34,892,402 , ■ !: ■; Total 226,221,163 239,881,183 v. of $2,084,586 for 1945., $2.120,010 for 1944. tAfter reserves of $86,041 for 1945, $95,219 for 1944, tAfter U. S. Treasury savings notes of $16,331,323 for 1945, $23,251,612 for 1944.—V. 163, p. 823. ; ; After reserves for doubtful accounts , accounts. a mill for • United States Sugar Corp.—New .Starch House— ; A $7,000,000 root-starch industry, utilizing 12,000 acres of reclaimed Everglades, and employing 2,500 persons, \|ras announced on Feb., 3 by Clarence R. Bitting, President, Although already turning out test runs 'of high-grade starches and their derivatives, the starch-house must' await the growing and harvesting of a new crop of sweet potatoes to supplant its hurricanedamaged raw product before commercial production can begin next fall. The September storm that swept across Florida,, accompanied, by torrential rains, water-soaked and ruined three-quarters of the current crop in the fields, and otherwise delayed test and training runs at the starch-house, which was scheduled to begin its annual production of 75,000,000 pounds of root-starches before the end of enterprise in the Florida Everglades, After production, the starch plant marks a sizable addition to Abe agro-industrial center the Corporation is building in the heart of the Everglades on the southern rim of Lake Okeechobee, and removes another Its superior properties will prove valuable world, uniformity and "have-not" shortages these The greater . 1945. Second largest individual sugar ease provides . / 5,926,515 15,225,797 ;;:y interests in capital stock and ; ; 402,853 surplus of subsidiary companies—. 8% non-cum. preferred stock ($100 par)-65,109,100 . by the company during, the past year," the report says. "One most significant was the widespread recognition and use of Rosin Soap GR-S, our early development of improved rubber, which not only assures higher quality but- also better processing resulting, in increased production in tires and other products. "Another important development of the year was a concentrated which 3,000.000 18,599,587 Minority This the latek for > General .. tered rubber 1947-1954) Reserve ments, or a total of $38,005,333. Therefore, there was a net decrease Of $11,361,243. The three synthetic rubber plants at Institute, W. Va„ Los Angeles, Calif.; and Naugatuck, Conn.,, continue in operation at production rates prescribed by the Government, "Many notable advances in synthetic rubber technology were regis¬ synthetic 2% .Reserve Total additions to property and plants in 1945 amounted to $26,644,090. Deductions were. $10,980,290 for depreciation, $26,496,634 for. write-off of war facilities, and $528,409 for/ disposals- and adjust¬ of 20,725,278 ; related liabilities 10-year . , maturing notes Advances under Government contracts ; tilities. purchased bank 3,000,000JAccroed Fed. inc. and excess profits taxes 9,222,318 ; All other accrued taxes— 6,671,610 Other accrued liabilities-taww--_U'i*--^i"i,M;''.'' 13,774,297 present and 24,828,421 payable 2% serial within one year not determined 239,881,183 LIABILITIES— V , ; " ; 226,221,163 Accounts It was renegotia consists product - from Everglades producers starch-house, of largest and five buildings the list are most of essential combating. modern, covering . , 15,249,028 37,606,872 Total •' $6,939,305' under Section 45,718 K; 69,900 Prepaid and deferred assets^ilii , the and Reserves twisting and built by the company in 1944 for. the Defense. Plant Corporation at Scottsvllle, Va, Three munitions plants operated for the Government at Des Moines,; Iowa, Charlotte, N, C., and Joliet, 111., were-closed shortly after the ending of hos- 1945—12 Mos.—1944 Internal Revenue Code as necessary in the interest of national defense, of facilities completed or acquired prior to Sept. 1, 1945; the emergency period with . During the year the company weaving rayon.c«rd and fabrics profits taxes: § There was accrued in each of the months Sept; to Dec., 1945, Incl., approximately one-fourth of the balance unamortized as of Aug. 31, 1945, is the value will be Cr$!0,673,866 $15,000,000 $60,600,000$118,000,000 fDeficit. 71,235 t Other accounts and notes receivable-—^-- possible as yet, the report states, to make any appraisal value of the rubber plantations. which the. company owned, in Malaya and Sumatra, of the chances of early operation, or of the expenditure which may be necessary to put them back into operation.. When the plantations are recovered by the company* their of , 1945—12 Mos.—1944 $571,481§$42,380,147 excess 1945—Month—1944 — v»: contlng.-«.— Crl,250,000 Accts. receivable—war contract terminations v 1945—Month—1944 8,420,955 y;J,~ * CONSOLIDATED BALANCE SHEET, DEC. 31 rose $15,719,302 from $12,295,126, and in Latin America, where ah increase to $3,611,165 from $1,445,875 was recorded. In 1945, a footwear; plant was placed in operation near.. Havana, Cuba. Also, the tire plant in Mexico City was expanded and additional capital stock in the subsidiary corporation which operates it was acquired. 37,948,190 13.797 "Includes charges for amortization of defense facilities.: subs. in post-war to 41,929,914 3,981,724 30,668,555 —. 15,487,414 376,836 ..$3.47: Foreign assets increased; to $21,346,741 from $15,542,854. increase" was accounted for principally in Canada where assets . Per interest $1,307,471 $3.31 make any provision for contract to $27,479,654 in-1944. 859,020 34,650,279 preferred stock——. op 1.25cr,000 14,209,273 : Reversal of provision for ! Pointing to the fact that the company is in the strongest financial condition in its history, the report shows net working capital increased to a new peak of $110,070,924 from $93,732,772 at the end of the previous year. Current assets amounted to $167,567,570 and current liabil.tieg were $57>496(646i c0mpared with $157(209,948 and $63,477,176, respectively, a year earlier. Of last year's current assets, $36,224,764 was cash and U. S. Treasury bonds, compared with 76 S26 016 Jx,iU/,ooJ chgs.. other inc. fr. all yyiys.:y . , company which was set aside in 1943 was returned ? 13 298 946 5,332,589 7,653,572 2,639,618 15,902,514 , ' . — 11,846,013. • of $26,496,634 expended under certificates of necessity in the purchase and construction of buildings, machinery and equipment during the war period. This resulted in a net charge against 1945 earnings of $1,857,383 after Federal income taxes and applicable renegotiation funds for the years 1941 to 1945, inclusive. A war reserve of $1,250,000 There , 3,433,315 - & Net inc; for the period Equity in, earnings, ap-?; plicable to minority United States Rubber Co.—Annual Report— Consolidated which a fee of $4,940,958 was ' 2 320 983 y<. ;; contingencies [• - , — - ' . other 1,347,258 —— operations , 906,510 ; > 1 ; transp. , Net . post-war upon ^ fTaxes y ' 4,157,977 for 1945 reached- a new^high of , .^Finished goods Goods in process pf manufacture $471,506,473, according to the 54th annual report to stockholders, : released for publication Feb. 8 by F. B, Davis, Jr.* Chairman of the Raw materials board, and Herbert E. Smith, President. This was an increase of 6.4% ; ; over sales of $443,077,433 reported for 1944, which had beerv. an all- v Cash, receivables and other assets relating to advances under Government* contracts time high until last year. As in previous years, 1945 sales do not include a substantial volume Postwar ; refund of excess-profits, taxes of production in munitions and synthetic rubber plants owned by the ; (foreign governments only in 1945) Government and operated by the company on a cost-plus-fixed-fee r, Miscellaneous investments : basis. This production amounted to more than $310,000,000, for Land, land improvements and water rights $ • for Provision tion on 1945 business.?'?;&;j;;:;:c;^ * 21.163,984 129,591,288 191,631,164. Direct taxes 17,495,743 84 536 070 141 806 203 ; -? ' Direct taxes aggregating ^47,025,988 were charged against' opcraaggregating $47,025,988 were charged against- ope ; ; tions in 1945, in comparison with $57,584,271 for the previous year. *8,406.725 opers, .$ I /Fetiy^excessv;;;...':;_^' profits taxes- . 1945—12 Mos.—1944 47,888,578 491,877,872 506,590,966 26,724,594 362,286,584 314,959,802 *Ry. „ —.— .A;va ■ Union Pacific RR. (and Leased Lines)— Earnings-^Period End. Dec. 31— , " 26,496,634 . C. Turner. Chairman of the board and founder of the has resigned as a member of the executive committee of ■' *, war ; 1944 i1' 1945 ^ has filed ah amendment to its registration statement A8SETSyy: covering 92,334 shares of common stock to be offered to stockholders Cash 22,479,654 '.i: r 31,224,764 at a"ratio of 1* share for each 2'/a shares now held, naming a group U. S. Treasury bonds at cost (2%%s bonds headed by White,; Weld, & Co.; as underwriters. The underwriting ; ; in 1945; 2% bonds in 1944)— 5,000.000 5,000,000 group will also receive 46,162 warrants entitling holders to purchase ; ; Post-war refund of excess profits taxes— 2,407,301 common stock for the next three years at $16%.* V, Dominion of Canada Victory Loan bonds The City Bank Farmers Trust Co., New York, N. Y., has been ap22,625 739,324 V. pointed transfer agent for the $1 par.value common.stock " ♦Accts. and notes receivable from customers v 49,626,368 V 34.888,019 ; 163, p, 233. for a Corporation the board of elected to succeed him.—V. > A '2,264,640 — United States RadUtor Corp.—^Underwriter Named— ; and materials New Member of Executive Committee— Henry Prov. of cost facilities • s 1,800,000 436,836 , 584,333 , . probably .$1.22 55,677,370 250,748 1,112,890 745,459 .13,024,778 ,15.832.613 / 14,163.554 8.381,011 possible renegotiations of war conpreferred dividends..^ ; 5,208,728V / 5,208,728: i 5,208,728 ■ ■2,604,364 the company's income for the nine months ended: Dec. common dividends-—3,517,810 3.517.813 V; 1,758.891 ^."v -v.-. 31, 1945, and -19.44- is not-presently, determinable, the^^ management;^Earnings per share^i* $4^/; .v $6.04 ; ^ $5.09 $1.82,:; is of the opinion that it will not be materiaLv.:^^^,;;;..■ ^Including depreciation of activ« p!ants and,plantations of $10,980,2^0 v Depreciation and amortization, charges for. the" nine months ended lor 1945;" $9,724,195 for 1944, $8,443,760 for-,1943 -and $7,694,760: for & : Dec. 31, 1945 and 1944 aggregated $901,766 and" $742,052 respectively. 1942. fAfter "credit adjustment of ; 1943 -renegotiation^ of $1,277,890.. $ —VvAi63,:p. -.6d64--.fi.f^;V-;:''^: It Also includes provision for renegotiation of war contracts. < ; tracts sufficient labor, are; available. company, 7,442,432 ^ indebt.. - During the year 1945 the company completed contracts for building and management services, including participation in involving transactions substantially in excess of $100,- v 000,000, J. Archer Turner, President, stated In a report to stockholders made public; on Feb. 5: The volume of work; completed, and net earnings, parallel closeljr the figures for the years 1943 and 1944. The company is starting the year 1946 with a volume of construction work on its books totalling $43,050,886,; Mr. Turner reported.' This amount, making due allowance for' the relative purchasingpower of the. dollar, exceeds the volume at this period in any peacetime year; in' the history of the company, it was stated. He also reported ; that inquiries being received by the firm indicate a great backlog which 37,572,283 ? 731,136 : 1,332,363 59,002,513 revenue funded on NOTES—While- the effect of the - 9 $43,050,886: on Books— •A 376,836 shipbuilding, construction 1,219,595 revenue—, - 1,132,000 280,000 62,000 . Turner Construction Co.—1945 Business Parallels 1943 and 1944 Has Volume of of 61,667,993 563,286 fFrov; for Federal .and, foreign inc. taxes^...; 19,330,074 f36,146,578 1144,425,840 taxes southern construction 1,256,050 11,991,305 1,171,196 7,657,087 Unamort. $3,244,493 f 137,022 income'' Net and > 2,716,533 4,940,958 to Johannesburg over TWA's North Atlantic Distance from New York ^ 36,401,087 2,025,264 ? ;i: parallel existing routes between Cairo and Johannesburg, now operated by British Overseas Airways and South African Airways in a pool ar¬ rangement. 26,442,790 48,420;638 Total $2,586,173 115,481 542,839 $769,856 206,694 ------ Other income credits— 32,467*770 45,303,750 Int. 2,048,327 25,412 A 35,745,447 52,036,291 Other income charges-. q71 B44 2,779,477 '-Y , Prem. on bonds redeem. $764,979 x . :: , , 39,713,453 ■ 636,015 , , Prof it from operations Other income credits,,, f Other oper. ^8,466,100 ; 1942 - Sell., adin. and gen, exp. . $9,728,587 $37,423,715 $30,971,844 32,107,918 26,337,344 1,026,217 • 194J • y'®''E 421 71c ex- 1944 '.$ ;K-"7". - ■' $ yyy.'/y";; • l^Cost-Of goods sold,.--.. 379,756,729? 362,028,257 341,382,934 231,170,391 directors, have been . 11.100,65Gv . ® ; "i'-V after all. re- discounts, turns, Inc.—Earnings— 1945—3* Mos.—1944 1945—9 Mos.—1944 $12,891,852 . CONSOLIDATED INCOME ACCOUNT FOR CALENDAR YEARS, Mr. Rosenthal is also President and Gen- , Each I*''^j{J0 d ' S<cs * tftXCS ""'i'* v' .: ','i -T.'»'.yi*"'''!. <• •*•'f'-j'j; V''^ transp. and allowances 471,506,473 443,077,453 422,271,043 294,014,268 Manufacturers, Inc.- -New Vice- & appointed Vice-Presidents. possessions of North Africa, the Middle East, Asia and well as the United States. The**proposed route would not now states. • Public Corp. its present route a corporation requested'Authority _to add toits j^®sent routea 4 492 mile extension from Cairo to Johannesburg, Union of South Period End. Dec. 31— Africa* with intermediate stops at Jidda Saudi Arabia; Asmara, Eri- . .,,,.Vt4, .,Wl, trea; Addis Ababa, Ethiopia; Mombasa, Kenya Colony; Dar es Salaam, , Net sales Cost of. sales— Tanganyika; Mozambique and Lorenzo Marques in the Portuguese Col• Selling, gen. & adm. exp. ony of Mozambique. ' • This is the first application by any airline to provide service to the . Net oper. income East Coast of Africa, although the principal resources in Africa sub- •; and cars Many are approve The trius tubes . The to , ject to development lie largely in that area. Connecting TWA's present international routes with this region would link it with. 20 coun- better greatly improved buildings, planes,, . Autographic United ^ , to ' ,' of butyl synthetic rubber, a "coming - tire 1 mileage, a- new fireproof upholstery material and. buses, - a burn-proof" ironing board cover, and a plastic, which will be used to make stronger, lighter,' more decorative furnifure. . •. ...:y;y "The prospect of large volume business in 1946 is very bright," the report states. r; • ; The average number of employees in 1945 was: 70,739, as compared ^'-Vith/..78,34'T-:in.; 1944-...-They'received.-'a total of $183,488,762 in wages and Salaries, equal to* $2,594 per employee, which.compares with the* 1944 amount of $189,766,092, equal to $2,423 per employee. with eral Manager of Sudampex, the company's Argentine subsidiary and Sion 10 Airican vyyyyyyy'yyy tyhas, been connected with the company for 23 years. Mr. Straus has An application to bring commercial air service for the first time to been President of the Seneca Textile Corp. since its organization : the area along the east coast of Africa was filed on Feb. 13 by this an<i Tvill.also continue in this-capacity.?-V. 163, 469. ' corporation with the Civil Aeronautics Board in Washington. » rnaet TToof production a ' ' Transcontinental & Western Aif, Inc,—Plaiis Expan• developed, ail on were Stating that "techniques and knowledge developed under the stimulus of war are now being applied to peacetime products," the report calls Chicago the corporation has plants in Cleveland, Ohio, Oakland. Calif. See also V. 163, p, 356. ; ; ^ Charles B. Straus and David S. Rosenthal, both A - the first time makes possible a white GR-S—came' our scientists in 1945; '. In that year more-than 40 synthetic rubber basis." Ex¬ to • . of business. . V First St., Reno, Nevada. . The annual meeting of the stockholders will be held on March 6. Five directors are to be elected to serve for the'ensuing year. The Co. nominees are: Arthur E. Orvis (partner with Orvis Brothers of New York City), Eldon L. Cleveland, Joseph. E. Snelson (San Markwell Francisco, Calif.), Bert Riddick -(Ely, Nev.) and Tracy (Wagner Tank & Mfg. Co., Reno, Nev.). . varieties products,. Mr. the of net sales, 10% as for from the research of new of the company's diversification which another . . cluding the federal government, .he said, no; single purchaser, accounted for as much as 1 % of UARCO net sales in 1944 and no single industry 426 at the and increased only another manifestation of the In-pointing to the wide acceptance Barker trade company's the machines continuous business forms is of ever-growing and Manager incorporate Barker said. office , "Our whole Tonopah Divide Mining Co., Reno, Nev.~-Acquisition The company on. Jan; 30, in a notice to its stockholders,: made the following announcement: ■'<. 'v;.;" J'V"y ^ "The Gaston property that was mentioned in the last annual report was acquired through an Option from Eldon. L. Cleveland, owner of the property. for the past five years, after receiving a report made by an independent engineer based on his examination and samples of the property. The purchase price being $100,000, of which $20,000 •' was the down payment and the balance of the purchase price, amounting to $80,000, is to be paid on a_ royalty basis of 10% of the net mint, smelter or other returns from all ore and/or metal which shall be produced or mined at , said Gaston property until the said sum; of $80,000 is fully paid within a period of 10 years, unless this option is < terminated or • otherwise decided by the board of directors. This action was ratified by the board of directors of this company. The owner had the property since the year 194o and the approximate cost to him at the time Eldon to Mr. on records are credited by Mr. Barker as the expansion program. * ■ ; economy has been stepped-up," he Said,, "and sponsible for ; of reliance business elaborate use adopted was corporate title, Increased The company reports MondayyFebruaryT 8j 19 of six: acres domestic ' its of type-in the ground, with . 't' :XM jVolume 163 Number 4465 m THE COMMERCIAL & FINANCIAL CHRONICLE ~ content of all Structures In to its of b,y-product biarch output, it produce lor Jne Project represents diversification „ 000 of 2,500,000 cubic excess will materials annua.ly livestock feed, ' feet. some - . In addition 30,000,000 serve a substantial part: of the company's $20,000,- program. unique plan help to $75,000; Resale of combat the housing shortage its suus.diary, cost employee States the Clewiston less OA'/*, per for any.reason his sever connection with the United taxes, sugar '... \! i the owner to month those employees who and are against financial loss. rlLSul:>mit The recommended To the secure agreement, Operating ——— $3,290,242 —— w $4,315,329 1,705,407 343,674 321,551. 57,764 49,426 57,764 r 79t707 1,391,140 ~ Maintenance Depreciation. !—.1..: 249,569 Amortisation of plant acquisition adjustments. "Fedei al .income. taxes\a,^:-^^U^t^^ :Other taxes . , : '"" —————— 248,096 .. nvf hand on and ii Jan. - $1; patents, V— $423,044; • • deferred ' • ., charges, $3,000; Net Net ry. 1946 —$10,583,663 163, 234. p. 1945 income $9)248,697 $1,334,966 , Wellington Fund, Inc.—Annual Report— i reductions ) in Federal allowance for to taxes Net :: 3,250$567,592 Total 123,957 16,904,279 693,168 — 3,396,923 —„ Net operating ' 92,031 tSpeclal charges Net.: income Net 2,891,600 ; —Z Income -excl. . $429,814 , $9,704,321 \jtfar,4r income- on •••' '' dividend AnnliooKlft-fn .ir Earn, per requuements Anmtvtnt-. share IS based *'*, tri-Anlr V'' u' -tttA LZuZZZl on 2,938,425 shares--.— 1,281,903 ' COO S $ $1.46 ' I , : , "■ be * r , CftC ; ^ 357. p. u' : t ^ " ** " ■ * p (& Paper Co funded unfunded Net " ♦ 3,244,274 3,100,1^ CtTheCFranks ^714,328;4$5^03,^^ H44 V transportation property in 162, p. 2688. book loss in 1944. * " of excess < sqxplus at beginning of the "Profit on sale Adjustment of . of of timber from marketable year co.'s woodlands securities 3,532,788 lower to market cost or $2,142,072 :-11,677,222 ! . ; — $2,383,587 11,067,708 Sales 73,920 Total > — 4V2%-cumul. on ' , pfd. stock, 'I $17 352,1082 $13,525,215 1.50 per sh. 674,121 Years Ended Sept. Sales 30— ' , , 1945 1944 1943 , > "After Federal -_-l-i----_-----i;-----„ $13,388,262 $12,046,604 $14,660,590 ——^12,932,049 10,649,649 13,387.514 - and admin. exps.j_-— ♦ $1,396,954 141,975 746,539 $1,273,076 Cash Other income Net: profit Reseiwe -Net - for $293,901 y Provision for: income , $314,237 JDr20,335 ' $648,302 . ));) 201,573 tax, reconversion $650,415\ .$467,440 JOrlO,982, ;:)'<■ JDr2,113 ■466,758 75,000 profit/'$92,328 $106,543 paid. 43,500 shure—$0.30 "Including expenditures; for cost-plus-fixed-fee 43,500 per BALANCE SHEET AS ASSETS—Cash on hand stricted and : $456,458 )> 335,776 OF SEPT. ■ contracts J and . ^' feel ),) 30, 1945 ' Total and $138,445 in 1944). 1945 LIABILITIES— , 1;Reserve Reserves for for Federal Reserves V LIABILITIES—Accounts payable. Waco purchases, $22,848; accounts .^.payable, purchases for U. S. contracts, $1,191,672; nctes payable, bank, s $185,829; accrued liabilities, $95,975; employee withholding tax deduc¬ tions. $8,281; employee bond aUit.ments, $2,646; advances by*Waco ohaccounts, $1(680; .customers' contra, $435,829; credit balances, , customers' $5,096; - deposits distributors' on orders, contract de- . , Yazoo & for officers' sharing bonus and 563,934 Gross from '• 500,000 f After :: United States 1944. "589,011 97,554 "224,960 31,468,662 8,621,112 3,525,633 113.; •;•*: 35,998,193 , : ; 1943 ' $904,692 "924,137 "829,935 13.262,449 railway—- railway--—--' . "Deficit,—V. 163, p. . 34,627,272 11,982,504 4,268,574 ) 4,354,593 1942 $3,679,769 1,266,907 "1,563,029 ' 35.655.4U 17,052,953 10,572,125 '.'.-idaittdJi.•:.;■)> York 3( Corp.—Earnings— Months Ended Dec. 31—: "'Completed 'sales 1945 : .' : —a.——— Fartly completed contracts—— ; lax notes of $4,670,000 in 1945 and preferred, 3,681 shares at par and 43,920 Treasury §1945 1944 100,000 profit-, ——rr——.t—)—_$68,523,800 $59,344,798 $4,000,000 in that said fro11®)' -car .opeiar.-, order of the Department. ,,,, 'J;:.':■ ~■)> 'V; Ir— Net(»y8<bper. income—. 290,404 290,404 ■AV*% preferred stock ($100 par) 15,583,000 ' 15,193(400 Common stock.(946,352 shares no par) 28,619,310 28.619,310 11,677,222 :, Earned 'surplus' 15,775,529 j.-,—— ■ 8Less Treasury stock, Dr1,151,069 15x1,084,769 ——— Total Nek'Jl-.om , ; ——, Fromi-Jan; Gross .from 171,913 , .. $3,137,044 1,050,428 $1,783,288 railway.,—^ Net (from railway——* ry, oper. income--^ . 1944 1,722,676 100,000 ;:*'• 1945 1; December— $1,765,042 500,000 self-insur. plan employees' . had been ordered m Public; Utilities. State order that tro.J- Mississippi Valley RR.—Earnings— ■ 166,785 inventory price declines- Reserves for New York State 854; $1,125,9(1 until the State Department orders, discontinuance. says: :. ■■ r)"/—^ :,; portation needs, and it is further ordered tion shall not be 'disebntihued except' by P. 776. f * : : - : : 97,260 1,649,880 taxes______— counts receivable,; USAAF,'iee withheld to contract completion,. $)03 $265,409;, cash held for employee bond purchases, $2,081; U. S. Deiense stamps, $100; investments in stock of other cor¬ porations. $1,470; land, buildings and equipment (alter reserve for de¬ preciation), $215,921; deierred expense, $7,119; total, $3,303,412. appears the 376.579 • $2,379,561 Increase 1945 operation as may be necessary car by —V) 161. 29,664,947 2,067,336 $50,84),480 in "1943 and $47,597,424 ih 1944. " " : 1945 payable and accrued liabilities— Dividend,on preferred stock, payable Nov. 15--, , ftontract 469,350 7,059,706 719,156 -t-After depletion and depre¬ Accounts .. "Therefore, ?After $5,000 in / its ''order:'the Department In of ' $63,523,800 $59,344,798 ■ , operation a sufficient number of busses to take care adequately public need. " after a public hearing investigation and considei ation, ,)it is ordered that effective February 11, the company restore such trolley car operation as is necessary to provide for reasonable trans¬ 6,761,279 wood ciation reserves of accounts receivable on government contracts, USAAF^ $184,571; expenditures to.be reimbursed, under cost plus fixed fee contracts, Note B. $1,725,137; advance payments on contracts) contra,. $435,829; ac-* . ?: reserve of $260,000 in 1945 and $135,000 in 1944. tlncluding securities deposited under Workmen's Compensation Acts (after reserve of fn/ banks'; $269,758; cash in bank—re¬ inventories, trolley Net $0.83 803; . 4,715,484 6,860,454' ■' , that, effective Dec> 31, 1945,. the. company discontinued the operation of street qars on all its lines which had not been pre¬ viously converted to bus operation. An investigation by the.Railway and Bus Division of the Department indicates that the company has, 43,500 : to U. S.. Army. Air Force Contract expeditures, $4,059; cash in bank; for contracts, not restricted, $20,594; postwar refund bond, to be cashed after Jan. l, ,1946. $3,707; accounts receivable less reserve, $63,- , 231,381 Notes and accts. receivable, not current (net>i. ?, 347,545 Loans to employees (net .;• y' '10,257' ^Property and plant) at cost; (net)—28,200,872 Deferred premium on group annuity plan— 1,751,710Prepaid insurance, etc ——i'w——556,548.. > $120,681 "; $0.73 to : ' not in 1944 $6,618,386 contractors—^.-—-564,473 United States Government, securities—— 12,412,174 flnvestments —i—.———j,_. —— 654.075 1 --^— Dividends Earn, Advances 1945 11 of Feb. provide "It ; 4,177,418 on Inventories ^'■Net;operating.•,proJit-:',;+.i4f4~-;M^s^•,r' ; • 399,636 hknd—v----——— Marketable securities, at lower of cost or market '"Accounts^receivable.''i^-i-_i):„_i_._-i-_;----)-i;i.' \ 805,635 - 1945 $7,588,638 ^ banks and in $1.80 thereto. CONSOLIDATED BALANCE SHEET, OCT. 31, : ASSETS—-; $456,212 $1,63. tax of $1,200,000 applicable on leys continue to run $15,775,529 $11,677,222 share_____-'---__:w-_.„i__- income i " 1946 for reasonable transportation needs the Massachusetts Department of i The company said it would comply with the , surplus at close of the year Earned" per common of'Sales Manufacturing profit —-w-—— V Engineering, subcontracting, selling ■ Earned Co.—Earnings— < 'Sf Restoration Worcester 33,837 - has been doubled " S'.5yj 358. p. .Streets^- ' Waco Aircraft : 163, . - Worcester Street Ry. Co. —Trolleys Ordered Back on 672.746. 4 * lead, . rubber; $32,602,347 $31,476,406 . —,————————————— ———. •V. -dZ,'; Divs. manufacture to -j Month of January— " . > January Sales Up 3.6%—, Woolworth Co.- (F. W.) — . , y , plastics, .. _ A Premium and unamortized discount and expense on bonds retired. . 1923 in include aluminum,- barium, calcium, ■ ., Net income for the year— Produdls In addition to U.S.P, zinc grade is produced for use i-d stearates include . high.; pressure to gExcluding sale of "Net .incorporated was now e from Cost (N. Y. City)—Acquisition— acquisition of the Franks Chemical 5? cosmetics. Other applications for $6,762,221 i) lubricants, paints, printing inks, waterproofing, v crayons, wire drawing, etc. ; ; > , 278,634 Since acquisition by Witco, the plant capacity, 4,100,000 r. :, ■„ to meet the requirements for stearates by industry.- ■ —$6,166,993 724,921 Prov. for est. Fed. inc. and excess profits taxes 3,300,000 — Earned : $22,903 magnesiumi sodium and zinc stearates. stearate for the drug industry, a special . * company and the line stearates, ; 452,665^^k *958;«,70!i ;; ^1— * 3,594: Co., Brooklyn, N. Y. No change will be made in the present manage¬ ment and Joseph M, Franks will continue as President. The company will be known as the Franks Chemical Products Co, division of Witco , v Total income Other charges .05' ' $24,467 l The company announces ? . 4,083,35? income ■ ■ 105 3,497 ■ *':i v," Witco Chemical Co. 1944 existing —V. '-Income 25,962 25,962 ' ' - NOTEr—Fo?. ni^hanictil reasons it is not always* possible to arrange companies -in exact alphabetical However, they are always as near alphabetical' position as possible. ; • • other Other ; order. - 3,812,695 , 28 969r $52,586 $54,032 debt—---—r— —V. 162, p. 2993. , administrative and general expensea_- selling, i8,ioo . Sub.)—Annual depletion and amortization—— 8i'i & Depreciation, $1.22- . to on on Unamortized debt discount and expense. Sales, after deduct, discts., returns and allows. $59,188,437 ^ 'grOOCLS. t r'"' 17^140 t.---46t 1 representing i pro, rata amount / S j pro of those portions of premiums and expenses on redemption of • red* - bonds • ■1 »ral which are equivalent to resulting reduction in Federal taxes on income, arid 12) $569,786 (1944—$2,848,929) representing pro rata amount /. of book loss on sale of transportation property which because of write-downs in prior years is $429,814 (1944—$2,149,074) less than the pro rata reduction in Federal taxes resulting from such sale. tlncluding $429,814 (1944—$2,149,074) pro rata amount .of tatf : reduction, resulting from sale of transportation property, in excess of related book loss in 1944, set IWhich are not offset by special charges include, in addition to the $429,814 (1944—$2, >2,147,074) amounts (shown opposite) which result from deductions, ' in 5 excess1 of s> depreciation at -usual- rates, • allowable for tax purposes as amortization of emergency facilities but not recognized in the accounts since such facilities are expected ; ; a .a?Ulac^Wio^^rori: 'i'-Zy- t I t I: $2,321,814: (1944—$1,742,647) - D,,!— i debt-i^---Uiuuii^- Interest , 19,171 , ; 29,624 Depreciation $59,098,2t^' - After extraordinary reductions of $6,852,393 "in 1945 and $7,985,762 In 1944. $44,147 12,953,351 ■ 1945 > 20,652 34,542 ;;';:Neti;:e'arningS\i.iaiiV*iii-'-i CONSOLIDATED STATEMENT OF INCOME, YEARS ENDED OCT. 31 ore Oflfl ' , x r 1,447,355 _ Report— 1,245,112 -0ft total, $22,127,200.—V, 163, TfiMn-ii, 1 r. ■ West Virginia Pulp 6,110,691 " 3,530,979 |E(nrJ11VIf?uf;iDrceSUl" ing iiom amortiz, 01 6nicr§!6ncy,5} Preferied Br$l2,733; $$8,259,765 " 9,274,507' : LIABILITIES—State taxes, $14,967; management fee, $37,529; cus¬ and transfer agent fees, $6,577; other current liabilities, $314; capital; stqck r(parr$l);- $1,341,890;-,capital surplus, $20,690,38l; earned surplus since July 1, 1939,; $48,274; treasury stock sit cost (635 shares) (1944—-$2,149,074) rata amount of tax: reduction TExtraord. reductions in Fed. taxes pro + taxes 8,588 7,538 it, todian 4,591,576 1944 $222,224i '94,809.' taxes, State and Federal—-— Income , 2,337,480 1945 113,194 operations ;ASSETS—Cash, $530,077; interest accrued and dividends receivable,$96,972; marketable Investments at -cost, $21,500,151;; furniture- and 'f\ fixtures,, $1; total,-$22,127,200. :"S5. 49,637 3,758.046 953.824 BALANCE SHEET, DEC. 31, 1945 , .1 ': Co.—Earnings$259,586 Maintenance 37 $48,274 ' 20,690,381 V - earnings Interest $15,353,967 $15,188,821 amortization-^ $997,971 — Surplus, end of period --i'HV: Balance paid ' 3,380,006 ,; : 47,970 1,839,779 ) 1 _1 Capital surplus, end of period-! $15,445,999 $15,139,184 income surplus Dividends 251,168 , 39,426 Drlfill - . V-:;' v-.; . Quarters Ended Dec, 31Gross' 43,887 $1,888,054 shares sold— of own adjustments— 3521, p. Wisconsin Hydro Electric $906,077 : * . 162, General 3,208,717 3,133,038 441,040 : 597,728 divs, for accrued Total 16,505,882 3,182,122 3,037,090 ' Winthrop in 1942,—V. V;): 1,270 $1,806,351 44,147 . period- Elected— 1934 he has\beea, owned subsidiary, Chemical Co., Inc., becoming head of the legal departmetit David $907,348 81,810,083 ) 3,732 beginning of 162, p. 176. $20 to $5—V. Rasch has been, elected Secretary, Since associated with Sterling Drug Inc., and its wholly $445,558 461,790 : 1,242,490 _i__ surplus, period's Prior — ' - income Net income for period—,.,.——— Earned Adjust. £££-£&— and , June, Winthrop Chemical Co., Inc.—Secretary , 12 MONTHS ENDING OCT. 31 - •. 3450,558 5,000 •' Net pro!if front security transactions-. Amortization of plant acquisition adjustments., "Federal taxes on ■ $570,842* profit . 403 , 328,307 Depreciation - company par value from 459,158 ; on ' — Interest 1 . '-'v,-.'VV'.-''/:-))'l944 v Operating revenues $43,257,312 $42,059,038 ^ Other i $20.09 amortization COMPARATIVE INCOME STATEMENT, ■. 2,236,080 659,911 " 234,816 V : $651,755- ' facilities Other taxes 1,986,314 523,357 . , ; 993,749 382,321 Morgan, creased "After Operation Maintenance 5,069,571 . to stockholders, reporting the results for 1945, -Walter ;: Net proceeds of the sale, after expenses and taxes, have been ap¬ President, states that the asset value' of the shares in¬ plied on the firm's.bank loan, reducing it to $300,000, Steven H. Haipr per share at the year-end alter payment of $1.50 ) mond, President, reported. ' v : ftOA per share of dividends from ordinary and security profits. This com-) Giving effect to the recent sale of stock, the company has 238,924 •: pares with $17.60 Jan. 1, 1945 and $19.08 June 30, 1945. : ' common shares outstanding, which, with 132,640 shares still held by L. extraordinary reductions of $525,636 in 1945 and $798,022 In 1944. tlncluding $214,907 pro rata amount of tax reduction, resulting from sale of transportation property, in excess of related book lots in 1944. * ■ " his letter In $1,603,377 : 196,738 ■*. 4^**,*,*,^^_ through 20,762 4,374,645 1,954,111 805,357 in its treasury, makes a total of 371,564 issued shares. consists of 600,000 shares, 1945, the company; split its shares four-for-one, increasing the authorized stock from 150,000 to 600,000 shares and reeducing the 197,329 emergency , 46,786 5,342,133 , : Extraordinary ; 34,462 5,586,04a Whiting Corp.—Sells Treasury Stock— / The corporation has reported-to its stockholders that if sold 20,009 shares of treasury stock, to a New York?; brokerage firm in Decmber at $12.50 a share. This stock, the company indicated, was purcnasea in 1944 at a cost to the company of around $5 a share on the present Increase . 'v,v 342,676 i ■ $1,045,822 ^ 222,715 48,235 oper. income— Jan., 1— Gross from railway Net from railway Net ry. oper. income..^"—V. 163, p. 113, In amortization ; 93,379 railway 1942 $442,030 ' charges income , 1943 $450,103 138,861 . Authorized capitalization Balance and 1944 $457,242 126,716 From operating revenues—— (net) Special 1945 $335,930 from railway.— from Net income Interest of Alabama- •Earnings- Western Ry. . *' ■ December- total, ,, With 240 a 31, 1946 and Gross the Other 2,089,000 $3,716,000 823. P. $1,627,000*' 31,. 1946 there were 235 retail units in operation as com¬ year earlier. Number of wholesale accounts 1946 were 1,482 and '1,520, respectively.—V. 163, Jan pared - *1 1———.———,—$7,265,000 sales Combined At .. 1945 banks, in Month of January— —V. 1944 233,436 revenues Opeiation : : 1945 at . $3,909,000 Walgreen Co.—January Sales Increased 14.4%— f Sales Earnings— & Power Co. ar accruals, $22,337; provi¬ sion for Federal and $154,000;.: common stock (200,000 shares; no par), $1,000,000; surplus earned* $1,361,038; total,, $2,587,626.—V. 161, p. 708. ' / need Month of October— y^^'<■ ^ rRpi'T ; — sal^""::...,^-^-—3,356,000 Wholesale payable, $50,251; State income taxes, 30 |Virginia Electri& )' •. rat a now sales $1.25 > LIABILITIES—Accounts desires within 260,000 $0.95 CONSOLIDATED BALANCE SHEET AS. AT DEC. 31, $646,576), $2,587,626. • the owner not sell his home to the Clewiston Realty Corp., to do so, lie should make his request to that com¬ days after severing his connections with the United States Sugar Corp., and the Realty Corp, will then have 60 days in which to complete the purchase of the home.—V. 162, p, 3240. he it tOn 200,000 shares, of Plans and cost estimates to the Realty Corp. owner but pany Month of January Retail $588,074; U, S. Government securities and marketable stocks at cost (market value. $758,817), $746,763,*' accounts receivable, $436,916; cash surrender value life insurance, $44,295; merchandise inventory, $345,533; real estate, plants, machinery; equipment, trucks—at cost (after reserve for depreciation own homes. have a base salary offor the plan by their supervisor. Valuation of the property should not exceed 25 times the individual's monthly salary. The Clewiston Realty Corp, will take no part in arranging for construction or financing, merely guaranteeing per ; 2437. Western Auto Supply Co.—January Sales Up^ i.. $251,212 charges and Federal and State income: and excess profits all ASSETS—Cash , avall»bie more 1942 i 150,000 $0.83 y $1.04 New York, Inc.—V. 162, p. Earnings 1943 $191,582 120,000 120,000 rnwQnt ttvatitfi . t0J5®lnllf'11the housing shortage by building their p is $250> or - 1944 $166,710 Consolidated Edison Co. of to Consolidated Edison—See ' . "After explained, is to provide employee with the financial assurtheir investment will be safeguarded, and thus assist them, that : 1945 Lighting Co.—Bronx Electric Properties Westchester $520,000; capital sur¬ total, $3,303,412.—V. 162, . preferred, 3.018 shares at par cost), $782,969.—V. 163, P. 358. and 43,920 common shares (at (no par), , $208,301 tEarnings per share on com; stock (no par)- Sugar Corp., in that period and desires to sell. company, ance 13l>?fi<1 Dividends Realty Corp,, to purchase the homes at during:' the next five years, if the ^pose of the... plan, Claience R, Bitting, President of the .. ■>' month should , Vogt Mfg. Corp. (& Subs.), Rochester, N. Y.- by encouraging employee home building as rapidly as materials allow has: Just been put into effect by this corporation, whiclr has arranged to guarantee resale of' employees' homes within the next five years without danger of loss to the-owner. The company has arranged with actual 145,000 shares p. 2193. Employees' Homes national capital stock, $60,193; operating surplus, $489,802; ) :, • ' . plus, , Subsidiary to Guarantee A (net), shares (at cost), $782,969; 1944, common $4,250," provision for Federal income and excess profits taxes $148,067; accounts payable, otiicers and others, $25,572; re¬ for contingencies, $30,673; reserve for reconversion expenses, posits, pounds . Total Net ■ -sales' rt- profit before taxes Reserve for and conting, charge—. estimated taxes,— and postwar contingencies-— Provision for war Net profit 1—— Earned per common share——— Orders booked during quarter—' ._* 162, p. 359. $3,484,551 8,634,307; $8,035,950 $12,118,858 717,752 1.763,029 380,215 1,280,500 60,000 , ——— $422,529 $337,537 .$0.36 ' S0.45 — Uncompleted orders not included in sales—« —V. 1944 .$3,445,869 4,590,081 9.469,963 .... 17,103,134- 5.251.077 20,012,307 THE COMMERCIAL & FINANCIAL CHRONICLE 950 State and Monday, February 18, 1946 City Be XX X BOND PROPOSALS AND NEGOTIATIONS Florence, Ala. XX Bond Offering—L. Birmingham, Ala. Beaver - B.; Coburn, City Clerk, will receive sealed E. Arm¬ bids until 4 pm on Feb. 25 for the strong, City Comptroller, will re¬ purchase of the following refund¬ ceive sealed bids until noon on ing of 1945 bonds amounting to March 12 for the purchase of $1,241,000, not exceeding 2 % in¬ school building coupon bonds terest: X"; amounting to $3,120,000, not ex¬ $224,000 general bonds. Due Dec. ceeding 4% interest. Dated April ;vl5, as follows: $7,000 in 1946 1, 1946. Denomination $1,000. Due to 1955, $10,000 in 1956 to April 1, as follows: $140,000 in 1969, and $14,000 in 1970. 1947 to 1949, and $100,000 in 1950 Bond Offering C. — . . or 15, rates of interest each of the to varying maturities are bear, expressed in multiples of The bidder may use as y4 of 1%, three different interest .However, not more than many as rates, interest rate shall be used on one single year's maturities.The same used as often as it is desired. Any bid for less than the full amount of bonds will a interest rate may be The bidder shall use the lowest interest rate, or combination of interest rates not considered. be restrictions subject to the above Due Dec. follows: $8,000 in 1946 to 1954, $10,000 in 1955 to 1959, $12,000 in 1960 to 1964, $15,000 in 1965 to 1969; and $11,000 in 1970. XX.X144,000 water works extension bonds. Due Dec. 15, as fol¬ lows: $4,000 in 1946 to 1952, $6,000 in 1953 to 1962, and $7,000 in 1963 to 1970. , x * 605,000. public- improvement bonds. Due Dec. 15, as fol¬ lows: $20,000 in 1946 to 1955, $25,000 in 1956 to 1965, $30,000 in 1966 to 1969, and $35,000 in 268,000 school bonds. specify which Each bidder shall to 1976. the rate ». as v . 1945. Denomina¬ tion $1,000. Any or all of said bonds having a stated maturity of than 10 years from their date more will govern and will be deter¬ mined by computing the interest will be redeemable at the cost at the rate of the City on Dec. 15, maturity of any given to the stated the bonds and then subtracting therefrom the premi¬ option 1955, or on interest payment date there¬ after at if any, bid. ; In addition' to the price offered, bidders must agree to pay accrued interest from the date of the bonds to the date holder, the transferred plus premium a equal to six months interest there¬ al National First Florence, be may Bank, New York The bonds and the interest there¬ City. Un¬ rejected the award Will be made to the bidder exempt from Federal, State, County and and after maturity are receivable the City. secured Said the by credit of taxing powers fore, the now full City, are by that the. of the City hereto¬ it that law. by In the event the income received by the terms cessful bidder at his may, bonds and in such any the suc¬ bonds turned. The Commission official a will a bid for. Bids be prescribed forms furnished request. No conditional bid be considered. delivered der or livery. successful April 8, on thereafter prepared on and as upon ;.'XXV X for will to the purchaser Enclose a certified Call Bond State — tions held as from bonds of the terms of such laws or by ruling of Treasurer, 3 Vi % highway that announces at his 3,500,000 Burbank Unified School held also was on Feb, 7, to submit to the voters an Excelsior of issue Union High District bonds amounting School submit the to bonds voters 200,000 Wiseburn School District bonds. of said bonds by the contract refunding called for payment on April 1, 1946, dt par and accrued Bonds may be presented payment to Guaranty Trust Co., Chicago, Inc., District bonds. of Orrick, (P. O. Los Angeles), Cat. $140,000 school bonds offered for sale 163, v. the 824—were awarded to p. Bank San Association Savings Francisco, 101.806, a Dated Feb. 1V2S, at as of price a basis of about 1.33%. 1, 1946. Denom. $1,000. bonds due are bidder > was jointly, National America of & Trust Feb. 13— on for Feb. on The next 1, high¬ Heller, Bruce & iVzS, Kemp at a Co., price of & 101.002. V> .<V Louis, or at the State Treasurer's office, Little Rock, at holder's de¬ tion. / The 1, 1941. bonds ./'/X are dated op¬ April X 100.01, '<• ■'" x • it Ulr Election — Civic Center bonds An Interest J-J. The next der was Weeden at at the election to be held ' City Offering—H. Clerk,- will bids until 11 am G. receive price of highest bid¬ & Co., for VAs, price of 100.65. a CONNECTICUT London, Conn. New Notes Sold notes sold issue An — of tax amounting to $300,000 Feb. on 7 These 0.47%. at notes due ! are X ^' May 17, 1946. sealed (PST) on Feb. 19 the X ; Drainage District (P. O. Moore Haven), Fla. Debt Composition Offer above —The district, lying in parts of Hendry and Glades Counties, is offering for the creditors tion approval of' its plan of debt composi¬ a providing for settlement of tions for bonds will be awarded to bidder con¬ sidering the interest rate or rates premium the and of¬ a of sum $295,018.47, 65% of the grand total. or The plan calls for the issuance of 4%; new refunding bonds, to be dated Jan. 1, 1946 and due serially on Jam, X highest bid from 1948 to 1975 inclusive. Prin¬ will be determined by deducting cipal and interest (J-J) to be pay¬ able at a bank either in New York the amount of the premium bid if any. The (if any) from the total amount of or the district. Bonds will be issued required to pay from May 1, 1946, in denominations of either respective maturity dates at to the rate or rates specified the coupon* and the award will be in the bid, made the basis of the lowest on net interest cost to lowest the City. The where and, $100 or scrip will be issued in the case of amounts due to Bonds in the de¬ nomination of $1,000 and matur¬ between able the to - dates standard nf ; creditors less, than $100 in whole in or part call¬ on or after that date, at par and accrued pur¬ interest. The $45,000 bonds to be.' chaser must pay accrued, interest Issued in $100 denominations mayx the bonds to the from the date: of of date The tables. interest bond City The delivery. re¬ discretion, the right, in its reject any and all bids and to irregularity any or ■? mality in any bid. The City bonds or rejecting all later than Feb. 20, 1946. be called in whole or in part qn' any one one rata amount of the thousand ($1,000) dollar and a hundred ($100) the inations. of the not as Delivery the far as dollar denom¬ refunding practicable. amount of each denomination each respective tobevde~| ceive shall be a matter can be prepared which, it is estimated, will be about May 1, have The successful bidder shall the right, at his " s< _ I / ' ' , 1' t option, to that creditor shall re¬ termined by the Exchange bonds bonds, The exact. the City Treasurer as soon as the shall Each bondholder pro receive infor¬ bids interest date atparandaccfued interest. Coun- cil will take action awarding provement, issue of 1945, series A, X: $1,000; necessary, ing after Jan. 1,1956, will be according aforesaid Chicago, to be designated by interest cost shall be net computed 1946. i ,of; on FLORIDA I stand Dist on successful bidder at the office of Denton; x XXXXX X was x discount a paid and future maturing obliga¬ purchase of municipal im¬ for the opinion of said bonds will be made to Sacramento, Cat. Bond a purchaser of amounting to April 9. deposit ac¬ Dahlquist, Neff, Brown furnished be Waive issue $300,000 will be submited to the Voters the bonds the approving the highest and best X Monterey. Par, Cat. Bond Is, at basis of about 0.998%. a the $453,874.57 in matured and un¬ will to on Security-First National Bank of: Los Angeles, as Herrington, of San Francisco, & serves --'V on interest which the City would be Angeles County, Garvey ScA. MercantileCo., St. The $145,000 Federal companying his bid will be re¬ turned. The — Dec. 18,1943, were awarded to the City, be re¬ purchase and in such case the fered, 450,000 San Marino City School term bonds, Nos. R3001 to R4000, incl., have been to specified On March 12 Bond Sale—The , option, prior to the tender 5 On March Dist. any without charge. amounting to $650,000: Los of lieved of his obligation under District bonds. election decision by or S0Id building bonds offered for sale Court, the successful bidder may, ?' On February 5 An is followed by which official the Bureau of Internal Revenue, High Union Monte El School District bonds. J' -i Ventura), Cal. the by Authority Federal Income Tax a or On January 20 $900,000 either laws, -X-'O'-; High Sch. Dist. (P. O. Bond Federal In¬ $4,400,000 to Tax vvX.'XX,''• -X/:' X'XX' XX * type same come follows: Co.,' and Thomas J. Vance- Clayton, Commerce Bank & Trust 1946, y delivery of the bonds the following V oted—The amounting These Arkansas (State of) In the event that prior amount. or to the be taxable under any favorably voted at the elec¬ were est prop¬ without limitation of rate rates) Union Angeles County School Districts and character shall be declared to (P. O. Los Angeles)* Cat. of personal erty, which is taxable at limited income received by private hold¬ Co., New York, Halsey, Stuart & bid¬ XX: The approving ARKANSAS for bonds may ready furnished without cost. interest. The bonds will be the bidders or as soon be to at the election to be held from 1948 to 1965. certified must may, the deposit accompanying his bid & check for 2% of the amount of the bonds at his election, be* bidder, City. certified copy of all Enclose amounting to success¬ check for $25,000 payable to the proceedings will be fur¬ bonds. Los the terms of any Fed¬ law, the be nished showing authority to issue the type and character shall be re¬ King of March 1. on by Hecker, of New York City, will Dawson, of New York, approving the legality and validity of the bonds, and received income opinion of Vandewater, Sykes & furnish to the purchaser the opin¬ ion of Wood, Hoffman, the will be returned; deposit accompanying his bid will be bonds issue An — $500,000 will be submitted to the voters all bids. In the event elec¬ purchase the case to relieved of his obligation to pur¬ tion, be relieved of his obligation under the contract to construction chase the bonds and in such pase of Federal income tax law, the reserved ful by type and character shall be taxable is eral income tax private holders from bonds of the same any or taxable by prior to the delivery of the bonds right prior to the delivery of the same upon Election private holders from bonds of the hereafter conferred or certain intangible (P.O. Martinez), Cal. Bond (except > Ventura. County, Santa Paula. all upon taxation by said City to Live Oak School District X .•: and is property within the City subject County, Antioch- The reject faith" and and The City. bonds com¬ the lowest net interest-cost to the in payment of all taxes, and dues to > Cosia thereon $5,000, payable to the City Treasurer. payment of said bonds and interest the plying with the terms;of sale and to $800,000, Elections will .'take offering to purchase said bonds at place on the following dates to taxation, Municipal CALIFORNIA of Bank at the Chase Nation¬ or less all bids are on are for the Contra check for obligated to levy ad valorem taxes dorsement. bonds for redemption, bearer form. to Council thereof has power Bonds without charge. Registered bonds later Inc., the Depositary, 410 Olive St., St. Louis 2, for payment and en¬ of such bonds and accrued value the of City, These bonds are general ob¬ ligations of the City, and the price equal to the par a payable at the Chemical Bank & on at the rate which the bonds Trust Co., of New York. These bear on the redemption date. Hate bonds may ; be registered as to principal, but not as to interest. of interest to be in a multiple of The registration will be certified y4 or one-tenth of 1% and must to by the City Comptroller.*Xhe be the same for all the bondsi bonds will be subject to succes¬ Principal and interest payable at sive registration or transfer at the option deposit should be interest thereon to the date fixed Principal and interest of delivery. of ers um, . certificates presented to Albert Theis & Sons, Dated Dec. 15, (exclusive of accrued interest) ex¬ pressed in multiples of V\ of 1%. In determining the highest bidder, the net interest cost to the City : or registered bonds cancel the contract of purchase' if Drainage Dist., Ark. coupon Payment on Debt— amounting to $2,680,000 not ex¬ the City shall fail to tender the The Bondholders' Protective Com¬ ceeding 5%; interest: Dated Jan. 1, bonds for delivery on or before; Denomination $1,000. mittee, 410 Olive St., St. Louis, 2, 1946. Due May 15, 1946, and in' such events Jan. 1, as follows: $135,000 in 1947 the successful bidder' shall be en¬ Mo., announces that the Federal Court has authorizde the payment to 1964, and $125,000 in 1965 and titled to the return of the deposit of a liquidating dividend of 1.8% 1966. Rate of interest to be in accompanying his bid. The cost of' on indebtedness due and accrued multiples ofi 3/4 of 1%. These printing the bonds will be borne to Aug. 1, 1940. Total payments bonds are part Of the $2,980,000 by the City. Bidders are re¬ to date amount to 21% on account issue authorized at the election quested (but not required) to of bond principal and interest and held on Nov. 6, 1945. The re¬ supply an estimate of the total averages about $290 per bond. Ac¬ maining $300,000 may be sold net interest cost to the City on the cording to a detailed report just when and as determined by the basis of their respective bids, made by C. W. Diekroegei*, Trus¬ City Council. Bidders will be which shall be considered as in¬ tee and Disbursing Agent, all but permitted to split rates irrespec¬ formative only and not binding 6n $3,000 of the $173,800 bonds1 is¬ tive of maturities. Principal arid either the bidder or the City. All sued and outstanding have been interest payable af the City bids must be unconditionaland deposited with the committee. Treasurer's office or at the'fiscal be accompanied by a certified With respect to the latest dividend, agency of the City in New York Dam Additional 1970. for which he will pay par or more X-'XX'X' XX:XXXX Agent conforming ^ practicable, to a pto and A. B. Morrison, nearly rata tions. as division , of such denomina¬ r , % .•/; i'.'-v' "j.t '* Number 4465 Volume 163 - 951 THE COMMERCIAL & FINANCIAL CHRONICLE * Participating creditors shall be Dated March 1, 1946. Denomina¬ tion $1,000. These bonds are due a period of time to Oct. 1, ,1946 within which to submit $6,000 on' Jan. 1, 1948 to 1969. The original 4 refundable claims to next highest bidder was Halsey, the District for exchange into the Stuart & Co., for l^s, at a price refunding bonds. Any such claims of 100.665. not submitted by Oct. 1, 1946, or Scottsburg, 6 such other date that may be fixed Bond Offering—Charles M.-Ste¬ by1 the Bankruptcy Court, shall be i, forever barred > as4 claims wart, Town Clerk Treasurer,VwilT receive sealed bids until 2 p.m. on against the District Feb. 15 for the purchase of $75,000 Copies of the debt composition electric utility-revenue bonds, not y offer and related material may be Denomi¬ obtained upon application to A. exceeding 3% interest. nation $1,000. These bonds are due B.»Morrison; Congress Building, on July 1, as follows: $4,000 in 1947 Miami 32, Florida. - ^ to 1950, $5,000 in 1951 to 1957, and Monroe County Special Tax Sch. $6,000 in 1958 to 1961. Bonds ma¬ turing on and after July 1, 1952, Diet. No. 1 (P. O. Key West), •; are redeemable at the option of Of Florida accorded •• ' Wanted Tenders — the Town, in whole or in part, on M. Willard or any interest pay¬ thereafter, in inverse numerical order, at face value, together with the following pre¬ miums : 5 % if redeemed on July July 1, 1951, Albury, Superintendent of Board of Public Instruction, will receive sealed; tenders until; March 14, of A; B, A A and BB refunding bonds, dated Jan. 1, 1937 and due Jan. 1, 1967. 1, 1951, or on or before Jan. 1, 1956; 3% if redeemed on July 1, 1956, or thereafter prior to ma¬ $t+ Petersburg Port Authority, Fla. $300,000 turity^ plus in each case accrued ferry revenue certificates offered interest to the date fixed for re¬ provided notice of for sale on Feb; I3-*v. 163,: p. 704 demption; —were awarded, to a syndicate such redemption be given at least composed of Shields & Co., B. J. 30 days prior to the date fixed for Van Ingen & Co., Cohu & Torrey, such redemption. Rate of interest and Allen & Co., allof New York, to be in multiples of V* of 1%, and must be the same for all of the \ as4%s,at a price of 99.529, a net interest cost of 1.31%. Dated Dec. bonds. The approving opinion of 1,> 1945. Denomination $1,000. Ross, McCord, Ice & Miller, w of together with^ a These certificates are due on Dec, Indianapolis, 1, from 1946 to 1950. The next transcript of proceedings relating to the issuance of said bonds, will highest bidder was *John Nuveen & Co., for Is, at a price of 98.656. be furnished to the purchaser, at the expense of the Town. Enclose .\'ys' if (\l«" ^ w" Certificate Sale—The i x; a ILLINOIS ' : ■ ; certified check for $2,000, pay¬ able to the Town. No conditional . bids will be considered. Brookfield, III. ' ' ■ ' ' ' Ordinance Approved—An ordi¬ of ment Public amounting to Fayette Consolidated School District, Ja. bonds Works v. IOWA approved on Jan. 16 b# the Village Board calling for an issue of village hall and Depart¬ nance was Bond Election—An issue of con-r struction bonds amounting to / $130,000. * 1.068%: . bonds 15 of about . & Bank -; Stranahan, Harris & Co., 'Inc., ./'rPaine, Webber,. Jackson & Curtis, V' Stern Bros. & Co., , New 1%% *v' month 149, a bonds / \ ' Co., National Robinson-Humphrey Co., Gfaham, Parsons & Co., t' and disposal plant sewage system and bonds amounting to $115,000 was defeated recently at an election. ■ • ■ ■ Eldridge), Iowa Livingston), III. school v issue building ing bonds amounting to $3,000 and on Aug. 29, 1945, awarded to the Central Trust of bonds was Savings Bank,-of Eldridge, as IV4S, at a price of par. Interest & (Net interest cost 1.0829%.) lowing bids:: Bank, - > /■' •,V; South ' ■ ■ Fillmore j (P. Township Hillsboro), III. ^ Leteher'. County, _ Bond Issue Approved—On Jan. 17, the road improvement bonds ^amounting to: $6,000 proved. were ap¬ - , INDIANA Indianapolis, Ind./Of '0: Bond Sale—The $156,000 track elfcvation of 1946, first issue bonds offered for sale on Feb. 11— ;163, p. 824—were awarded to the First National Bank, of Chi¬ v. cago, as a Is, at a price of 102.089, (basis of about 0.7921%. Dated March 1, 1946. Denomination $1,000. These bonds are due on July Plans 5% Local Finance the of above on which are indianapolis Bond - . Park Dist., Ind. Sale—The $132,000 estate ' real now optional April 1, 1946. Weeks, jointly for Is, at a price / - Officer at Frank- ford, Ky. The purpose of this hearing will be to consider the petition of the county for the ap¬ proval of the issuance and sale of bonds to refund $651,000 of bonds Hughes & Co., and Hornblower & of 101.592. * Ky. Holders of dated become 1947 to 1966. — road and bridge bonds July 1, 1922, April 1, 1924 and April 15, 1925, and 2 V2 % and 3% road and bridge refunding bonds of 1940, dated April 1, 1940, are advised that a hearing will be held at 10 a.m. on Feb. 27, at the office of W. L. Knuckles Jr., State the The next highest bidder was Raffensperger, 1, from Refunding issues described past due for will or redemption LOUISIANA Caddo Parish School District No. 1 (P.O. Shreveport), La. . r Other Bids—Following is ' a list pur¬ due are on were as fol¬ Newman, Brown & Co., Hibernia National .Bank, New Orleans, • 1.10s 100.45 - ■ -100.205 ' r to of on Feb. 12, were awarded the Gloucester National Bank,;/ Gloucester, at a able 100,30 - the at -100.39 MAINE Maine ? National Merchants Bank, in Salem, Mass., or at hold-; er's- option at the National Shaw- :; mut Bank, Boston. Other, bidders were as follows: • Hate Beverly National Bank, //■Beverly. —— 0.415% Cape Ann National Bank, - , ; 0.465% Gloucester Merchants National Bank, Salem 0.465%. —— Namkeag Trust Co.,. Wm. Blair & Co., jointly, iy4s of discount 0.374%. Dated Feb. 12,1946. These notes are due Nov; 12, 1946. Pay¬ Co. Republic Co., v*. . Note Sale—The temporary notes t for sale John Nuveen & Co,, and " ^ • Salem), Mass. amoqnting to $900,000 and offered Halsey, Stuart & Co,, and », : Barrow, Leary & Co., jointly,^ For iy4s —100.59 Union Securities Corp., New York, Nov. 12, 1946. Bidder For 1.20s For on Essex County (P. O. Associate, . , . due and _100.007 notes f • For 1.10s --——^-—100.06 , t an¬ amounting ,to $250,000 was sold on Feb. 5, at a 'discount of 0.35 % These notes dre and Co., of Georgia, Atlanta, jointly, For O. Pitts- (P. Notes Sold—An issue of tax ticipation, . Trust . County field), Mass. v Salem 0.47% — Gloucester Safe Deposit & Trust Co., Gloucester-- 0.47 % Framingham, Mass. (State of ) Bond Sale -—//The following Jo¬ McGillicuddy announces bonds amounting to $190,000 and that Waldo-Hancock Bridge bonds, offered for sale on Feb. 14, were Nos. 101 to 700, aggregating $600,- awarded to the Merchants Na¬ 000, have been called for payment tional Bank, of Boston, and R. W» on March 1, 1946, at par and ac¬ Pressprich & Co., of New York, crued interest. The bonds, dated jointly, as %s, at a price of 100.42, Sept. 2, 1930, and maturing on a basis of 0.65%: Bond Call—State Treasurer [Chicago, seph H. B. J* Van Ingen & Co., Alex. Brown & Sons, ; First of Michigan Corp., E. H; Rollins & Co., • Eldredge & Co., Co., * W. H. Newb'old's Son & Co., ' > / ; 1960 incl., March 1 should , be'presented for payment from 1946 to at the Treasurer's office. Memphis, iBond Offering—Joseph H. Mc¬ J. M. Dain & Co., and ; j Walter, Woody & Heimerdinger, jointly, For $1,130,000, 4s, $2,435,000, Is, and State Treasurer, will sealed bids, until 11 am Gillicuddy, ^ Co., receive Feb. 19 forjthe purchase of Waldo-Hancock .bridge refund¬ (EST) on ing coupon bonds " amounting to $600,000. Dated March 1, 1946. ' Denomination $1,000. Due March i $2,685,000, 1.10s ———100.006 1, as follows: $60,000 in 1947, $30,(Net interest cost 1.1898%.) ' 000 in 1948 to 1950, and $45,000 in 1951 to i960. After 5 years after Calcasieu Parish School Districts $90,000 street construction bonds. Due $18,000 Feb. 1, 1947 to * 1951, > "/n ,100,000 water main bonds. Due $10,000 Feb. 1, 1947 to 1956. / " Dated , bonds shall be re¬ of the other bids submitted for deemable by the State on any in¬ (P. O. Lake Charles), La. the $6,250,000 construction bonds Bond Election—An issue of terest date in such amounts as awarded Feb. 6 to a District No. 29 bonds may be determined by the Gov¬ syndicate School headed by Halsey, Stuart & Co., amounting to $100,000, not ex¬ ernor and Council at par and ac¬ cago, jointly, as Is, at a price of New York, which paid a price of ceeding 4% interest will be sub¬ crued interest. First call date will 101.065, a basis of about 0.906%.: 100.0056 for $1,421,000 3s, due mitted to the voters at the elec¬ be Sept. 1, 1951. All bids must in¬ purchase bonds offered for sale on Feb. 11—v. 163, p. 704— w«re awarded to Raffensperger, Hughes & Co., of Indianapolis, and Hornblower & Weeks, of Chi¬ Other bidders Berkshire i White, Hattier & Sanford, For iy8s —^__100.15 Equitable Securities Corp., Merle-Smith, Gruntal & Co., ' Wm. E. Pollock & suit to notes issued in antici¬ pation of taxes for that year. Pay¬ able at the First National Bank, of Boston, or at the Central Han¬ over Bank & Trust Co., New ——100.30 For $146,000 Bonds MfercantilqrCommerce Bank & Trusty Co., St. Louis, Kingsbury & Alvis, hrid Glas & Crane, jointly, ; Stroud & Co.,' - .•j Illinois Co., Chicago, Co., Bank, These MASSACHUSETTS For 1.10s— Portland, Eastman, Dillon & Co., National on Oct. 7, 1946, and ; jointly, For iy2s , First National Bank; First Denominations 1946. York. Stranahan, Harris & Co., Inc., and Associate, * R. S. Dickson & for sale and Trust''^0.^ York, G. H. Walker & and Scharff & Jones, /Pittsburgh, Central The $800,000 tem¬ . City Bank, York, Mellon Securities Corp., Lazard Freres 1.0743%, series bonds, as Is, at a , (Net interest cost 1.1505%.) KENTUCKY — notes offered porary • . O. be made on or about 1, 1946, at which time the definitive bonds should be ready for delivery. may March — Bank, Felix M. Rives, & terest , Commerce,1 Nashville, 1 Schoellkopf, Huttoii & ■ Pomeroy, C. F. Childs & Co., M. A. Saunders & Co., John Dane, Ryan, Sutherland & Co., Provident Savings Bank & Trust Co., Cincinnati, Dick Attorney -General to the legality will as be furnished the purchaser. Pay- 1 ment for the loan and accrued in¬ Price Bid lows ; For $150,000 Bonds ! Bidder ' Rate First National Bank, ; v.V Kingsbufy &r Alvis, and Glas & Crane, jointly, ; ; Boston 0.46% For li4s —-——w—100.012 National Bk. of Commerce, I Portland 0.47% ' Newman, Brown & Co., For iy4s Leavitt & Co. 0.479% 100.05 White Hattier & Sanford, •: Rumford, Me. For ls/8s —————100.12 Stranahan, Harris & Co., % Note Sale—An issue of tax an¬ ticipation notes to amounting Inc., and' Weil & Arnold, jointly, $200,000 was awarded on Feb. 5 to ForlVzS -.100.405 the Rumford National Bank, at a discount of 0.69%.' ' V Equitable Securities Corp., § ; New, Orleans, Phelps, Fenn & Co., John Nuveen & Co., New the Bidder York, • Harriman Ripley & Co., . •: about- of New Chemical Banlc & of chaser. Chase National amounting to $78,000 was pur¬ chased recently by the Illinois M-N. J, C. Bradford & Co., Cruttenden & Co., Municipal Bond Co., of MurphysThor, Iowa boro, and Barcus, Kindred & Co., JVfcDonald & Co., Bond Election — An issue of of Chicago, jointly. Dated Jan. 1, Newburger & Hano, and water works bonds Ginther & 1946. These bonds are part of an municipal Co., jointly, amounting to $9,500 will be sub¬ authorized issue of $80,000. Legal¬ For $1,421,000, 3Y2s, mitted to the voters at the elec¬ ity" approved by Charles & $295,000, %s, and tion to be held on Feb. 26. Trauernicht, of St. Louis, $4,534,000, Is :\r public $140,000 price 100.10, a basis of 0.9743%—v. 163, p. 705—also received the fol¬ ; Bonds Sold—An issue of build¬ offered for sale - Bonds Purchased—An v2Vt% Sheridan School Toivnship, (P. O. • Madison County Community High Sch* Dist. No. 146 (P. O, . ; ■ . v * faith of the good Portland National Bank, at a dis¬ count of 0.279%. Dated Feb. 15, new 100.039 New March 11. and Feb. 13 Were awarded to the First of \ . , National on credit Note Sale Orleans, Co., jointly, For $1,421,000, 3 Vz s, ;$2,144,000, 3/4S, and. $2,685,000, Is voters at the election to be held the the National i Bank of Commerce and John Dane, both of New : Hannahs, Ballin & Lee, $125,000 will be submitted, to the of Principal Jan. 29 to belt bonds awarded on • issue accepted. j 0 in tly, for $150,000 bridge fund, series A bonds, as 1.10s, at a price of 100.10,, a basis , Kohlmcyer, Newberger : &* Co., and • ' Stockton Broome & Co., •jointly, For $1,421,000, 4s,. tion has been called to submit - to i $1,512,000; %s, and Sheldon School District, la. . the vvoters- an issue of improve¬ 100.002 Bond Election—An issue of im¬ I $3,317,000, Is ment bonds amounting to $25,000. provement bonds amounting to (Net interest cost 1444%.) Defeated—An be dollar price less than for State is pledged for the payment of both principal and interest. The La. Other Bids—The $290,000 $100,000 will be submitted to thel voters $t the election to be held ; Bond Election Called—An elec>» on March 11. r^^'.-jGridley, III, will par the as offer Portland, Me. Julien Collins & Co., Commerce TJnion No 1946 to 1960. Bank, Gray Township If P.O. Gray villa),. HI, Bonds basis of about 1.48%. These are due on July 1, from New Orleans, National Bank of well as offered. opinion school bonds awarded last to White, Hattier & San- Orleans, McDonald-Moore & in of the State $27,500 ford, of New Orleans—v. 162, p. 3125—were sold at a price of 100.- / , Hibernia (P.O. Natchitoches), La. No. S iBond Sale Details—The . '' " Natchitoches Pariah School District V j/ Co., St. Louis, Pressprich & Co., Blair .& Co., Inc., "v -■* \t W. Milwaukee Bond single rate for the entire multiples of 1/10% or a issue Vs%, Requested—The and Tax Board has Election amounting to $260,000. Trust dicate requested by the School ^nd-interest payable at the office of the State Treasury Department. Board to grant permission to call The bonds are an unqualified, an election to submit to the voters direct obligation of the State, and School' District No. 30 bonds Equitable Securities Corp., Blyth & Co., : •, Bmith, Barney & Co., * Goldman, Sachs & Co., t R. in more than years. State Mercantile-Commerce not due been Price Bid T are Bond , Bidder date ment series net interest cost basis a March 11. These tion to be held on 1947-1951; $1,826,000 0.75s, matur¬ 1952 to 1957, and $3,003,000 Is, due from 1958 to 1966 incl., or ing issue, these Feb. 1946. Denomina¬ 1, Principal and interest payable to the Merchants Nation¬ tion $1,000. al Bank of Boston. Legality ap¬ proved by Storey, Thorndike, Pal¬ mer & Dodge, of Boston. Other bidders, for %% bonds, were as follows: / Price Bid Bidder First National r Boston, Bank, • 1 * , ' s Kidder, Peabody & Co., ,■ Higginson Corp., and F. S. Moseley & Co., Lee jointly ->_100.40 952 THE COMMERCIAL Halsey, Stuart & Co.——._100.337 Miller, Kenower & Co., For $83,000,. 2s. Framingham Trust Co.____100.10 Laidlaw & Co.,' and Weeden & / Co., jointly,:__100.077 Estabrook & Co., and > R. L. Day & Co., jointly___100.07 For 1% Bonds pk-'.0k Harriman Ripley & Co., Inc., % : and •' Tyler & Co., jointly___.__100.399 Second National Bank, * i Boston Note Sale—The the Second National Bank, of Boston, and the Boston Safe De¬ posit & Trust Co., jointly, rate of 0.40%. Dated Feb. These notes 1946.' The the • due are next at Nov. on Other bidders 5, were as follows: ' >f T&dder ■ Rate -;. Merchants National Bank, • , Boston K; ; 0.418% Day Trust Co., Boston... 0.427% / Firit National Bank, ; ' Boston " 0.45% Lea'Vitt & Co. 0.483% , _ _— ,c\'. J1".. ' 'l "s' Cottonwoood r < yl Sf% a syndicate composed Co., of New York, National Shawmut Bank, Boston Safe Deposit. & Trust Co., Merchants National of the Bankers Trust Bank, and the Day Trust Co., all of Boston, at a rate of 0.38%. Dated Feb. 19, 1946. These notes are due on June 21, 1946. payable Principal and interest in Boston New or York ;atv the : option of the purchaser. The.next highest bidder was the National City Bank, New York, and the Second Boston, ,0.385%. at, a only other bidder First National Bank, of ■ New Bedford,. Mass. Note Sale—An issue of notes amounting to tempor¬ $600,000 ary'. Was awarded National tori, at \\ Feb. on ; 11 to Shawmut Bank, the of Bos- discount of 0.47%. Dated 1946. /„ These notes are payable on Nov. 7, 1946. Denomi¬ nations $50,000, -Feb. a 11, $25,000, and $10,000 $5,000. Other bidders were as follows: Bidder Rate Merchants National Bank, l&i Boston 1 __ _ _ __ __ _ 0.48% _ ,AV-. E. Hutton & Co. Leavitt & Co 0.485% 0489% bonds - choice amortization of will the bonds issued, the entire issue into one into several determine bonds on Bonds Sold—The $10,000 Scottsbluff, from the date of issue. If serial bonds are issued and sold Paul, Is, at as bonds 1960. a due are Other bidders in 1948 were as to folPrice Bidder J. Rate M. Dain & Associates Paine, 100.35 V 1.10%.. Bank,' ^ .Minneapolis Halsey, Stuart & Co.______ 100.03 , 1.20% 100.62 -1.20% 100.61 County Indep. Sch. Dist. No. 100 (P. O. Lakeville), Minn. Bond Sale—The $22,000 refund¬ ing bonds offered for sale on June 4, 1945, were awarded to Paine, Webber, Jackson & Curtis, of Chicago, 100.353, 1V4S, as basis a at of District awarded — on refunding at not with less bonds •/ all bidders on $21,000 12 Dec. Dec. notes must bonds election 11, 1945. ' Enclose warrants check for 27, 1945 above Clerk. to Piper, recently the are the a held Interest J-J.. reasonable on the to the c rate of were as 0.39 %. syndi¬ C. S. Ashmun at " "Security Trust Co., Lynn. _0.405% F, S. Moseley & Co.—___;_0.42% i . - ^ - - }> - MICHIGAN St. Clair of $71,000 construction bonds was submitted to the voters at an elec¬ tion held on Feb. 11. .///'i , County Independent School District No. 96 (P. O. Franklin), Minn. Bond Election Held—An issue Rate Shores, Mich. Bond Sale—An issue of public park bonds amounting to $83,000 and offered for sale 163, p. Feb. 5—v. awarded to the 705—was First of Michigan Corp., and Mcf Bonald-Moore & Detroit, jointly, at 176, a net interest MISSISSIPPP Leake County (P. O. Carthage),-i on Co., a both of price of 100.- cost of .'"f the time as follows: for Dec. 1, $13,000 in 1946, $15,000 in 1947 and 1948, $20,000 in 1949, as 2s„ and $20,000 maturing Dec. 1, 1950, as l%s. Interest J-D. Dated Feb. 1, 1946. Denom. $1,000. Other bidders were as follows: Bidder Price Bid H.'V. Sattley & Co., and Channer Securities Co., Chicago, . For $63,000, 2s, and $20,- Press 000 dated. Jpn. (Net interest cost 1.895%.) Kline, Lynch & Co., and L. T. Hood & Co., ' jointly, For $83,000, 2s ___100.15 (Net interest cost 1.951%.) . ■ at > tax the elec¬ November, 1945. iZink j- County (P. O. ,'burg), Mo; ville, at a priWBf "100.85, a basis 0:68% J. fDated Feb. 1, These Feb. 18. held ■- \ \ : were: ^ " 1 Jersey legislature , j to bids not com¬ pay premium a $1,000 will be bonds will be thereafter urer. ' as ■ West Pater son, N, J> Bond Sale—The $15,000 funding . of 1945, coupon bonds offered for sale .on Feb. 13—v. 163, P- J°fc" awarded to Boland, Saffin of New York, as IV4S, at a price of 100.034, a basis of jibout 1.242%. Dated Dec. 15, 1945.' De¬ nomination $1,000. These bonds were i/Co., due on Dec. 15, from 1946 to 1953/The next the highest bidder United / States • and won r * i ; said no .'''' / Call—J. Treasurer, payment H. announces May 1, / / Dekker, City the call for of the out¬ standing balance of $75.°001w1a^ works bonds, series of May 1, an on l^6 , also $25,000 sewer bonds, Nos. 1 to The bonds/with unmatured coupons attached, should be 25. sented Federal • •.?.■ Offering—W. H. Gardiner, City Treasurer, will receive sealed bids until 3 p.m. (EST) on March l for the purchase of the follow¬ ing for payment to ' est Inter¬ due May 1 next Will paid at said bank. % coupon Santa .' Pre"; the First National Bank of Roswell. Ocean City, N. J. Bond . ; l'r : Roswell, N. Mex. Bond also be ; yvill be suhrpitted to the voters, ah the electioh ttri be held on March " Co., /•; NEW MEXICO questions had been raised in the ; , action litgation. was Trust . on re¬ de¬ March 15, 1946, or as they ^ay he prepared. Enclose certified check for 2% of the par value of the bonds, pay able to the City .Treas¬ on soon Appeals requiring Zink to make the distribution they asked. Jersey''City in opposing a Su¬ preme Court review of the State court's the and_ desired The livered in doupOn' or registered bonds Price Bid! amountingto $143,000, not ex¬ 'irst National 5: Bank, Chicago, /"/'.- v.; ceeding 6%" interest:/- /T'%//.//. and Commerce Trust Co., $14,000 aviation field bonds. $78,000 jetty of 1946 bonds. Due Kansas City, jointly 100.522 March l,.as follows:; ^10,000 25,000--auditorium -bonds, ^ ^ . ' are of excess ' jected. order by the Court of Errors and — Bidder have to . unconstitutional as Legality approved by StinImperial, Neb. Bond Election son, Mag, Thomson, The following McEvers &, Fizzell, of Kansas City. Among 2^4% bonds.amounting to $39,000 other bidders Bids and >any offering or 1945 passed an act to give the mu¬ nicipalities $3,301,539. Jersey City and the other municipalities inter¬ ested successfully attacked the act % be New ■ bonds obligations oL;the Paterson, for 2s. The $50,$00. to bids in after .arose taxes. are the demand. Anselmo School District, Neb. Bond Election—An issue of con¬ struction bonds amounting to $40,-, 000 will be submitted to the voters election .The share of the interest. Zink refused These is being published calling for an issue of electric light and plant bonds amounting to the all railroad companies paid into' the State large amount of taxes, . treasury a Plans Bond Issue—An ordinance at office; plus $15,276,000 in interest. Jersey City and other municipalities then demanded the $8,076,047 as their NEBRASKA Bonds Sold—An issue of 1% un¬ limited tax road bonds amounting to $250,000 was. awarded recently to Stein Bros, &r Rioyce, of Louis¬ 1944 case °£,^n^er®f bidders offering to pay or plying with the provisions thereof review the lowest rate same right is reserved to reject any, or C. defaulting in ' Warrens- Washington, 28, stated as follows: said bidders offer to take least amount of bonds at by the City. The approving opin¬ Caldwell, Marshall, Trimble & Mitchel of New York, will be furnished the purchaser. The was asked by Zink, Comptroller of the New Jersey Treasury. He con¬ tended the New Jersey court, by its decision, committed an uncon¬ stitutional act. The $6,000, payable to Alma, Neb. more ion of arrears. * >of forms which will be furnished on Justice Rutledge took no part in consideration of the appeal. Homer amount City, payable from unlimited ad ^^ palities $8,076,047 which had been collected • as interest on railroad authorized at the election held June 5, .1945. Enclose a cer¬ MISSOURI Johnson t7 Associated An $144,000 and ac¬ and to accept the /least will be general 0.47% *{ Jersey Court; pf , Errors and Ap¬ directing the State Comp¬ troller to pay to various munici¬ $100,000 is¬ on ? been; authorized pursuant peals on 1951. 100.03 j voted of (State of) — As same Local Bond Law of the State X& 'i;< '*J :f dispatch from issue. at the therefor the highest additional price, which additional Pr^c® not exceed by more than. $1,000, the par value of the bonds, hereby offered for sale. Principal and in¬ terest payable at the .City The Supreme Court today ±efused to review a decision by the New the above Clerk. favorably bonds are due on Feb. 1, as follows: $65,000 in 1947 and 1948, and $40,000 in 1949 to , payable Decision Court of thereafter before maturity. bonds are part of the was 1946. jointly, become tified check for of -about < will or bidder JERSEY New. Jersey serial bonds, will be redeemable in full at the option of the County five years from the date of issue and on. any payment due date sue Bonds Voted—An issue of hos¬ tion held in •' T. said then said bonds will be sold to the Local Units Win U..S. Supreme June 1,1947, and a like amount on the same day each year thereafter uptil all such bonds are paid. The bonds, whether amortization or pital bonds amounting to $150,000 1.847%, $63,000 maturing ' Miss. ' , than interest, valorem sale, both principal and interest to .be payable in semi-annual installs ments during a period of 20 years upon bonds Renville . *) NEW entire issue may be put info one mine Other bidders ■ I \ 1 March 6 for purchase of $60,000 hospital bonds, not exceeding 6% interest. Dated June 1, 1946. Amortization 20, 1945 follows: Bidder ' combined a same the -;i.:.:0.39% W. E. Hutton & Co.__ I considered for proposals more the Rate ^ ; tBoston Commissioners, will receive sealed as urer's - Second National Bank, be pay for the combined issue not less than the principal amount of $143,000 and accrued interest, and two the pur¬ Bank considered, for rate higher ^han the at which a legally ac¬ bonds, the bonds to be accepted to be those first maturing, and it The, other bidders were Bidder Co., of Minneapolis, Park-ShaughSwampscott, Mass. nessy & Co., of St. Paul, and Note Sale —The $200,000 tem¬ Frank & from the date of issue. If serial Belden, Inc., of Minne¬ porary, notes offered for sale on apolis, as lVss, at a price of 100.- bonds are issued and sold, they will ;';Feb. 14 were awarded to the Sec¬ 047, a basis of be in denominations of $1,000 each: about 1.117%., ond National Bank, of Boston, at Interest J-J. the sum of $3,000 of said serial a ^ ; single bond or divided into several bonds, as the Board may deter¬ cate composed of the National a will therefor follows: as submitted to the voters at an elec-; choice of the Board. If amortiza¬ tion to be held on Feb. 19. 1 -; % tion bonds are sold and issued, thie a as at crued $350,000 and Feb. 14, were amounts Merchants Boston. purchase and construction bonds bonds will be the first choice and amounting to $550,0Q0 will be serial bonds will be the second awarded to M i designate. These notes $250,000 Sept. 16, and $100,000 Dec. 16, 1946. Payable at au¬ Marshall, Minn. vs. Bond Sale—The $150,000 hospi¬ tal bonds offered for sale on Dec. bonds No pro¬ be lowest interest rate, the bonds will be sold to the bidder offering to the Bond Election—An issue of site were on will multiple of to due are County (P. O. Baker), Mont. i Bond Offering—Dorothy Speelmon, Clerk of the Board of County on ,/• posals issues chaser may • a.m. '} a between Offering—The temporary amounting to constituted bonds are to 1%. one-tenth of or of if they as of al Bank, of Boston, at a discount ; bids until 10 Hennepin County Richfield Sch. Dist. (P. O. Richfield), Minn. bonds bids of 0.384%: Denominations in such Fallon Jaffray & • Hopwood, of Min-, neapolis, as 2 at a price' 01 100.357, a basis of about 2.19%. ' 4 t said separate issues of bonds, and all proposals must be for all of said awarded to the Merchants Nation¬ certified $3,000, payable ifv-.Vi r offered for sale which they will purchase the bonds at par. The Board reserves the at ^ March 1, 1947 to 1952, 1,1953. Bid¬ on ders must state in their proposals the rate of "interest (naming a ceptable proposal is received. No an issue Portsmouth, N, H. Note state the lowest rate of interest at These * < v ities of said issues of bonds being $20,000 not their par value interest to date of and r- sold be at April 2. NEW HAMPSHIRE than accrued delivery will voters on amounting bonds ■ as though they constituted one single issue, the combined matur¬ lowest rate 100.268. or in part, but if in part only in order of their identi¬ fying numbers, the lowest num¬ bers first at par and accrued in¬ Said re¬ $140,000 was purchased recently by the Kirkpatrick-Pettis Co., of Omaha, as - %s,, at a price of due date from any The — has Purchased—An Bonds 1946. Denomi¬ 1, single issue) the bear, expressed in Scottsbluff Sch. Dist., Neb. the whole thorized The No. offered for sale such All after five years from date of and prior to maturity in sale. Sale of all paid. price of right to reject any and all bids 1.21%. and to sell said bonds at private a Edina,Minn. Warrant until been about Interest J-D. were redeemed terest; Dakota Sewer have bonds of this issue which mature on and after April 1, 1951, may be and Webber, Jackson & National thereafter year bonds submitted to the be March a quested that an issue of audito¬ rium bonds amounting to $500,000 election to be held . nation $1,000. Said issues of bonds will be sold as a combined issue 1/4 Committee Auditorium . ot single rate of interest for all to Neb. Bond Election Requested issue Curtis First Bid 1.10% Co., and _____— issue of 2% years Park-Shaughnessy & These an : March Due and $23,000 on March bonds was period of 20 said serial bonds will become pay¬ able on April 1, 1947, and a like amount on the same day of each Co., of St. price of 100.203. , amounting sold recently. refunding they will be in the amount of $1,000 each, the sum of $15,000 of syndi¬ composed of the Northwest¬ ern National Bank; C. S. Ashmuri Co., both of Minneapolis, and of Village Clerk, has announced that of sale, both principal and inter¬ est to be payable in semi-annual a issue Paxton, Neb. at the time upon ; An jr." lows: Dated — : 1, as fol$10,000 in 1947 to 1949, $9,000 in 1950 to 1952, and. $8,000 in 1953./: ">• '• :: - . Platte,' Neb. . Board the 1953.; bonds. on civic center bonds amounting to $12,000 will be submitted to the voters at the city election to be held on April 2. • - divided or as ' > held 1949, $11,000 in 1952, jSnd .$15,000 in 65,000 Tim pro vement pur¬ building $25,000, au? election Election be put may single bond - North Bond to 1947 To 195(j- to memorial the at Jan. 29. and sold contracted 2% amounting to thorized " If Board. are inr - Contract—The Douglas Investment Co., the bonds be! the cate of Boston, and J. P. Morgan & Co., •Ipc., jointly, at 0.465%. ~ ;■■; con¬ Bank, rate * County March 4 for on installments during «> struction bonds offered for sale Feb. 4 were awarded to a The the was National jointly, serial second con¬ County Independent Windom), Minn. Sale—The $170,000 of tion bonds will be the first choice and \ Massachusetts (State of) Note Sale—The $5,000,000 notes offered for sale on Feb. 13 were a.m. may /Jl awarded to • School District No. 6 (P. O. ; Bond Board M. chase exceeding 6% interest. ; Dated April 1 ,1946. Amortiza¬ Jan. 28. on the Purchase of Omaha has the purchasce of : court house bonds amounting to $300,000, not struction, site purchase, and equip¬ ment bonds amounting to $175,000 was favorably voted at the was 'Security Trust Co., Lynn, at 0.415%. . 100.42 Bonds Voted—An issue of of bids until 10 a 14, 1946. highest bidder Clerk i - MINN ESOTA election held v'*'■ Commissioners, will receive sealed Chicago County Sch. Dist. No. 1 (P. O. Taylors Falls), Minn. temporary notes amounting to $600,000 and offered for sale on Feb. 13, were awarded Mont. Offering—H. Kruckeberg, } $83,000, 2V2s —..100.27; >'"• John Mpnday, February 18, 1946 Lyons, Neb. » Bond (P.O. Miles City), '' * (Net interest cost 2.362%.) Lynn, Mass. to For : ' i Bond ; Heimerdinger, • MONTANA.^ 'U" ■ Custer County 1' Fox, Reusch & Co., Walter, Woody & > 4 Browning & Co., and Pohl & Co., jointly, *• *.100.008 (Net interest cost 1.997%.) ^ - v- & FINANCIAL CHRONICLE Bond Fe, JV. Mex. Sale Details—The - n'ft« $25,000 street improvement bonds awarded on Jan. 19—v. 163 p. 706— sold to Boettcher & Co., ot Denver, as l%s, at a price of PaJ*. Dated July 1, 1945., These bonds, will mature on July 1, as follows: $1,500 in 1946 to 1955,- and $2,000 were . in 1956 to 1960. Interest J-J. *■ • Volume 1 Silver • Bond Town THE COMMERCIAL & FINANCIAL CHRONICLE Number'4465 163 / \ P. .'Noble, City, N. Mex'. Offering—R. budget at 1 P. M. on Feb 13 in the Assembly Chamber. 7 Mr. Dewey outlined these prin¬ sealed 7 ■ :• for ciples: '7 of 1. "The budget for 1946-47 as 1946 coupon bonds amounting to recommended is broader in scope $85,000, not exceeding 4% interest. than the previous budgets because Dated May 1, 1946. Denomination it includes all revenue collections $1,000. Due May 1, as follows: and all revenue apportionments to $2,000 in 1947 to 1954, $3,000 in localities." (The present budget of 1955 to 1973, and $4,000 in 1974 $369,500,000 did not include the to 1976'. On Nov. 1, 1966, or on amount distributed by the State in shared taxes to localities.) any interest payment date there¬ • Clerk, will receive bids until 7:30 p.m. on March 15 the purchase of water works . after any or all of said bonds ma¬ turing after'May 1, 1966, may at / the option of the Town be re¬ deemed upon publication of 30 days' notice of redemption. Prin¬ cipal and interest payable at the office of the Town Treasurer, with New York exchange. None of the bonds will be sold at less than par and interest accrued of date to will any discount or commission be a lib wed or paid on delivery, the nor bonds.1 The of said sale ap¬ surpluses will amount State 2. $500,000,000 on April 1, 1946. Budget operations.' for 1944-45 produced a surplus of $156,600,000. The current year's surplus will be cuts Tax i For pluses" small "only 1946-47 were other . business tax rate from 4 to3%. The said, does not include about $6,700,000 in appropriations for "self-fi¬ nanced • Dewey declared that the budget provides for "the improvement and Fort way educational are and expansion of the State's high¬ system, recreational facilities, service, aids to hous¬ ing, services to veterans, care of the sick and needy, and its many Public (State Debt Reduction by of) Cities—The State and its various local govern¬ ment units reduced the net of for Bridge Authority, N. K. 5 - To Retire Bonds—In his annual Dec; 7 Harry 1945, / Chairman 31, bondholders Yates -advised that the decreases: will tax new $558,500,000, of which $251,- total For have reduced 35% purposes" the recommends 243,400,000, divided into $206,900,000 for cur¬ operations and $36,500,000 for addition In service. debt $3,- a the extent of $640,000,000 the peak levels which pre¬ ends from vailed in the 30's, according to a analysis recent The record of prepared appropriations These $27,- are 000,000 for salary raises, $9,000,000 for mental hygiene patients, and $7,000,000 for public works. Debt $145,000 of service goes down $3,400,000. v Series A-l. The Trustee is au¬ 77;; 5. For "local assistance" $301,thorized to purchase bonds to the 800,000 was recommended plus extent of'these funds prior to May $7,000,000 for more public health The recommendation allows 20, 1946 at not more than the aid. callable price. If, on May 20, 1946, local ." assistance of $25,400,000 the - funds are not exhausted greater than if the present system ; '■ and bonds the by purchase the through Trustee, the Trustee will select by lot and the Authority will call sufficient of these selected bonds hand and to exhaust the funds on the bonds called Will be paid so July 1, 1946 at the call price of $1,015 per $1,000 bond plus in¬ terest to July 1, 1946. All interest on called-.bonds will cease as of July 1,1946. followed, or $20,900,000 over State aid for education were debt reduction and 25% in further reduction of a personal income taxes. This cut is in addition to the reduction of the cumulative slash of 50% in the individual tax bill for and in 25%: already vogue, effect is a source ; 000,000, above what the old for¬ mula would have required. ##/ public works program 6.. "The in the met be to next few years aggregates $1,000,000,000," About $450,000,000 "can be financed from the postwar reconstructiorl fund." ing bill was passed last Mon¬ day by the Legislature and signed into law last Tuesday; , . It« is venues. parts—57% re¬ into divided two "State purposes" for "local assistance," and 43% with lean-year reserves for these parts amounting to $86,200,- two ■ : ■ 000. for //# /#;; #/ ; ; '7' possible to "recommend spite of necessary expenditure in¬ creases," Dewey said, ."and do so Without deficit financing" be¬ It • was substantial tax decreases in . . "wise of cause action'' Legislature. by the 7-7 ' The Executive added that New York State is "in the strongest fi- v nancial , p o s known.". ; iti on has it #"••" '7' - ever r . ; reserve, funds, be'said,vis. a step unprecedented in State, govern¬ ment. . .. t : : ; ...7 , ; , -' Legislative fiscal committee will conduct a public hearing on the 4,079,293 1930 801,950 1938 1.524,051 3, 483,924 1930 7,936,725 1 1 84, 223,038 1937 115,370,814 # Binghamton Buffalo Canandaigua 1930 82,500 _______ Cohoes 1930 "1,775,151 1933 974,000 1931 Fulton -7,7 Geneva 1.633.500 V 1932 Glens Falls _ Homell MMi ■77^7 777*7 Hudson 7^_77 824,000 655,500 63 1,908,000 : 1,047,900 1; 1,270,097 1939 398,000 2,039,100 Falls 7* The State's net debt is $388,- 1931-32. broadened aid come through to localities will implementation Commission the# Moore before of program, now Legislature, under which lo¬ will not have to pay for more than 20% of welfare costs and will receive more State aid on a In capita basis. *■; ; per v 77' lieu of shared taxes, a fixed amount 4,321.862 the per capita rate of $6.75 for cities, $3.55 for towns, and $3 for villages. / - -7 ; ■#;/>#/#/•-':'77# Heightened educational aid, the 2/446,060 W 46 737,006 339,000 46 1939 2,785,379 746,279 51 Middietown'.1'-^^773-777l1!;7^i;361,000 .1930 V '11,869,000 V: 608.000 31 10,860.959 '61 8,597,968 7,203,731- V6rnon Mount Newburgh ; ; 18.064,690 1932 1936 3,665,520 1,526,454 42- 1931 17,053,900 6,132.970 36 12,206,815 1937 .■I 15,546,467 ti 1,337,000 1930 3,514,290 332,070 1 Niagara Falls North Tonawaniia 1941 495.600 v 7-777- 7 ; 531,400 1936 77777-7-7; // 1,488.160 1935 ■Oneida-';—i; -7 1,606,000 1930 31,000 1933 1.028.000 1934 Ogdensburg oiean Gneonta 7-,T '/ Oswego 1 1,623.041 777m..7«fcOwl't1 Peckskill (H 1,378,293 19301 — Schenectady ; — 1 27,777,897 A - 1.982.844 last annual 25% expenditures oL the or go for local aid m<We fall taxes build them below would York New uo. 7 -* i City 1931 .2,552,588,396 1 debt (t) Utica "A 1941 • includes water amounts - 25 28 47 and percentages of i-'Al# EDITOR'S that although 134.484,611 these are not a legal NOTE: In compiled reduction •; by data 34 •33 5 obligation Citizens the Public on Feb, 26 for the 1978. public improvement :#/; bonds. Due March 1, as fol- Expenditure ; lows: ». ; with the above results,"', it should be" borne in figures empldyed are for various, dates^ in 1944. As very financing has been effected by the cities in the past year or so, the relative latest the a.m. 170,000 peak years, on 11 $530,000 water bonds. Due March 1, as follows: $8,000 in 1949 to 1953, $15,000 in 1954 and 1955, and $20*000 in 1956 to .36 1 Survey., mind bonds connection :: debt 1 positions as of the present time are evidently much more favorable. 1..1 $5,000 in 1949 to 1953, $6,000 in 1954, $7,000 in 1955, and Dated r ; $12,000 in 1956 to 1966. March . Denomi¬ 1, 1946. nation 1947 to 1952. Enclose Port of New York Authority, N. YBond Offering Cullman, 11 will receive ;?•/:# to Leland Jones, Town Super¬ Howard a.m. on visor. Feb. the purchase of general refunding bonds* eleventh for 19 and series, due in 1986. number A sufficient of bonds will be New ■ York O. Krel- jschman, Town Clerk, will receive lows: ; v '■/, ■ ,; .-M fire bonds. ■•"■/■' ;■ ■• station Due • / construction $1,000 Feb. W' 1, /;/;,.:.:#/#A;/-#A/;';;;.'/ 5,000 fire equipment and • ; • aopara- #;;; tus bonds. Due $1,000 Feb, 1, , sold to /,/.# Bond Offering—Lester $6,000 $1,000. Registerable as to principal only; general obliga¬ tions; unlimited tax; delivery at place of purchaser's choice. A separate bid for each issue (not less than par and accrued inter¬ est) is required. Bidders are re¬ quested to name the interest rate or rates in multiples of Vi of 1%; certi¬ S. — Chairman, sealed bids until a fied check 1 for. $12Q,r payable or . 53 2,392,570 5.599,427 40,767.315 . Source of net debt data. Division of Municipal Affairs; NOTE: to > purchase of the following coupon bonds amounting to $700,000, not exceeding 6% interest: * . /.,///- ' levied be 45 2.687,073,007 27.427,145 Yonkers minimum the until 1 19,855,639 'i.r 1,751,746 423.470 U'i 5,194.957 13:340,170 1.170,8501 15.070,089 - Raleich, 98 1.321,548 3,734.590 1939 for; State purposes,- When the top limit should sealed bids at his office in 31 314,382 - 1934 * ? Easter- 3,871,138 .?'? 9,517,295 19,780,050? ?£ • 1930 -747,380 9,875,132 Plains 35%.. sealed bids until 1.30 p.m.: (EST) on Eeb. 15 for the purchase of '7 coupon or registered is reached, $11,000 bonds, not exceeding 5%; interest. excess. collections would be used to reduce taxes. If the reserves These bonds are described as fol¬ 45 % 48 . '" E. ling, Secretary of the Local Gov-/ ernment Commission, will receive 66 403,036 836,796 2,472,548 . Hickory, N, C. Offering—W. Bond 25 489,111 614,461- 1,751,211 , 1938 / Commerce about 1.141%. * White >: - Trust 44 ' .1940 12,293,406 1930 320,382 19371 '!$ 43,950,409 1931 - 1,962,735 1930 1940 • Watervliet Mercantile & ? 39 7,124,725 Watertown ! v. 37 921.870 1,151,000' ■ mi./ Ulica (t) 36 — Co., of St. Louis, Peoples National Bank, and C. F. Cassell & Co., both of Charlottes¬ ville, at a price of 100.002, a bet interest cost of 1.038%, as fol¬ lows: For $45,000 maturing $15,000 Feb. 1, 1947 to 1949, as 3s, and $355,000 maturing Feb. 1, $15,000 in 1950 and 1951, $18,000 in 1952 to 1956, $23,000 in 1957 to 1961, and $24,000 in 1962 to 1966, as Is. Dated Feb. 1, 1946. Denomina¬ tion $1,000. The next highest bid¬ der was Fox, Reusch & Co., Ham¬ ilton & Co., Browning & Co., and j Ryan, Sutherland & Co., jointly /for $75,000 23/4s and $325,000 Is, at 100.003, a net interest cost of 27. A 2,343,620 14,180.623 Tonawanda Troy 20 507,366 ; 74.222,925 1936. 24.094,776 Syra cuse : '25 1940 8,422,268 6,000 . . "'"V '532,171 u," 739,500 '697,500 • r€,028,635 1930- ______ 20 44 1932 914,415 1 51 ,96 1 • 810,415 .. O.l; ,211,245 Saratoga Springs '716.280 1,379,984 1,473,624 _ Salamanca'1 , - 408,306 - 2,195.370 1; 608,386 1931 . 747,280 1,885,659 1,421.750 Rochester Slierrill 1931 .771,598 A 1,527.5)60 ' . 2,155,212 1931 1937 .46(445,028 Rensselaer 55 A 647.905 . 2,014,306 t). 33 .. 1,838,415 3,833,265 n 163.530 1,179,305 f/ 62 2,177.290 . f 21 3,341,652 • ' 3.015.740 1 r> to; 558,000 piattsburgh < Rye - 2,139,066 7.777,7,7' 77 — Norwich A 10,920.930 ^77^ ,7 , Rochelle New 359,000 . below 1 ' program., # 7' •'• • These funds would not be per¬ fall 27 72,437 380.158 ■>. 8,525,5311 1936 ' - explained, will result year's revision of 250,000 at the accepted bid priqe. the Friedsam formula. 771,7 Each bid/must be accompanied The 'novel stabilization fupds, by a certified check or cashier's Dewey said, are part of the "strik¬ check amounting to. $334,000. -' ; • ing changes" proposed in the State Vestal iFire Dist. (P. O. Vestal), financial to 33 1,593,080 '; ,_7775777^2 because of last mitted 52 .806,414 3,442,780 1938 1947 to 1951. Enclose : a certi- fied raise funds in the amount of $18,- executive 76 446,421 - Bank • 739,158-; ■ annually will be paid at 54 — bonds 12 the of 56 47 1930 __77—- Beach Mechanicville against the city. 7 Dewey said the 43 446.000 ,; :1 863,921 " . pital Feb. 921,164 5,709,862 1933 1,849,700 A 821,750 1 1937 49, 715,597 f. 1,943,129 1930 1.639,646- 1 777 __^_,»;„r777-7 ; Shelby), The $400,000 hos¬ offered for sale on 163, p. 826 — were awarded to a syndicate composed 37 : 709,957 1939 417,500 _ Lackawanna 961,884 1931 1,388,000 7- ■_ Kingston 861,764.. 1 Sale Bond 47 :. ■V 1930 1937 CAROLINA NORTH Cleveland County (P. O. ; North Carolina 51 1,884,900 392,400 1,021,965 Jamestown 55 ; 2,595,384 375,750;*? 1936. Ithaca Johnstown 50- 554,500 1,084.000 v Gloversville 32 972,760 ;; 1.20% Bonds #'1 & Co.__100.14 81 1,444,957 v Stevenson For 27 ' 1,835,764 735.000; 1930 7.. Glen. Cove Bacon, 56 51 3,730,900 «7—— Elmira, Marine 78 357,516 1,549,743 7.1,846,000 Dunkirk 1939 Co., For 1% Bonds " Trust Co., Buffalo. 100:195 47 : 775,743 774,000 802,391 : __10Pt.JL5 100.15 ■?#■:?■#■•#' 31 528,300 1,629,406 .90% Bonds Co.u____ & ■ >( # Inc. , 1,302.988 A 2,567,988 \;> 1937 Bonds Bank, -100.02 ###■:■;/ vFor 35 4,452,801 31,147,776 440,016 1930 l.ioi.ioo ; 17 722,101 1,265.000 Coming ''77-77 Cortland, 777: %% Bronx Geo. B. Gibbons & 1,300,736 1,675,136 ,\yere ■, Tilney ;V 11,027,099 1 1,269,413 A ' above • Establishment of the' $86,200,000 2,944,925 1940 Marqh>tl, New York H from Pk. from Pk. 1,917,826 ' - of Re¬ $5,519,064 $32,107,950 "7'.v 374.400 Batavia Little A Amount.' 1931 $6,000 Other bidders duction Reduced 1936 r due are National Per cent Year as basis Denomination $1,000. These 1947 to 19^1. as folloVs: # Amount $26,588,886 ____ a March-; 1, debt v Peak Dated 5%. The fe'V r;Price Bidder ; ; 'Bid re¬ the •' 2,809,880 debt all State's cities: Hicksville, 0.73%. For Peak Auburn -little new showed indicates of for price of 100.05, a about 1946. duction experience of each of the in 1944 71. Amsterdam calities history following offered Bank 0.75s, at years for units City- Albany the State's tional less at End of $1,000„000,000 public ■ fiscal of Ending Since works pro¬ gram.;;'. "/./</ '//7;:"'7;.■/;# "7 -' :. 7 Dewey declared his 1946-47 budget for. the first time in the Villages owed 31% Net Debt the cilrrerit fiscal year on Mar. 31, 1946,, With a surplus of about $500,00(1,000 and urged that the money be u&ed in connection with the projected end will State the its indebtedness by all-time high in Fiscal Year > Long $10,400,000 greater than in the current fiscal year and $26,- 000,000—$108,000,000 less than on March 31,' 1943. Dewey noted that 1946. Other tax reductions recom¬ "the existing outstanding debt will mended by the Governor provide be reduced further to some $360,•for a total savings to all taxpayers 000,000 by March 31, 1947." The in the aggregate amount of $122,000,000. Mr. Dewey stated,. that present debt is at its lowest mark ■ political considerably,; the above reported, pointing out that will be recommended grants of) - - \ are: $253,000,000 #for 7 highways, n'Dewey Proposes u $550,000,000 parkways, grade crossing elimina¬ Budget if Governor# Thomas ;/ E. tions and canals; $61,000,000 for Dewey presented to the State mental1 hygiene institution con¬ legislature his budget measure for struction; $22,000,000 for conser¬ •the fiscal year 1946-1947, providvation and parks and $35,000,000 ig for expenditures of $550,000,000 for emergency, housing. The hous¬ ; varies of groups Lockport 7 Principal New York (State „<6* various this year. on • par-king salq ion Feb. 14—v. 163, p. 827—were awarded to the Long Island Na¬ bonds area had 29% less; the by Beacon 000,000 reserve is set up for sup¬ plementary and special bills. -77 Trust A Westbury, N. Y. the from 1939. "State 900,000 greater than last year. The largest increases are about $10,- Series separately." the reduction is placed at Estimated revenue collections 3. $294,350 was deposited on Dec. 29 with the Manufacturer^ & Traders Co., of Buffalo, as Trustee, under the mortgage indenture for the purpose of retiring $145,000 of is five years. should be accounted the State itself will, at the close of its fiscal year on March 31, 1946, outstanding indebted¬ to ness The pe¬ and of the Fire Equipment years charge against general a issued pursuant to are riod of probable usefulness of said *Fire Station construction is ,20 vey", 100 State St., Albany 7, N. Y. rent report for the fiscal year ending said bonds Bond Sale—The $30,000 York New not revenues and The approv¬ the Local Finance Law. will be $42,- budget Erie with 400,000, the local aid reserve $43,800,000. ■ 7 /7; . 7 , ; 7 4. Buffalo functions associated Citizens Public Expenditure Sur¬ State purpose reserve organized on April 9, Seqtion 225 of the ing opinion of Becker & D'Adamo, of Endicott, will be furnished to the purchaser without cost. The banking, insurance, racing regula¬ tion, safety responsibility and workmen's compensation." 7 This, he added, is because "they 600,000 will go for State purposes, $306,900,000 for local assistance. s'■ : Dewey bonds aid. On Marchv 31, 1947, the local of the amount . budget, new under 1932; cities, excluding New York, counties, 26%, and towns, 20%. For New York City, forecast—$2,400,000 and $300,000 for for State purposes was 1927, of after NEW YORX District the irri- as Town Law of 1916. . bid, payable to the well as this State." in 1944 as compared with the peak year of proving opinion of Pershing, Bosworth, Dick & Dawson, of Denver, will be furnished the purchaser. Enclose a certified check for 5% Town. functions, provement of employment within elimination of the lVi% emergency impost-on .the cor¬ porate franchise tax rate, and re¬ duction of the unincorporated levies,, amount sur¬ another for 25% reduction in personal income to $177,000,000. provide 953 ,. / check, for $100, payable to Leland J ones, Town Super- ;:■# visor. <xl i;.. : 1.946. Dated Feb. tion $1,000. each bid may name one but Denomina¬ , from unon real ad valorem taxes property within the District and said District operates under and said bonds are issued pursuant to the Town Law arte? either issue, and the amount of bonds ?he of unlimited for bidder must bid Endicott Endicott, with New York exchange. These bonds are general /obligations payable Bank bid may name more than rates specify in his of each rate- Each rate must be bid for bonds of consecutive maturities. The bonds will be awarded to the bidder offering to purchase the bonds at the lowest interest cost to the City* such cost to be de¬ termined by deducting the total air v,mt of the premium bid from each at. the payable National no three Rate,^. of interest to be in multiples of or one-tenth of 1%, and must be the same for all of the bonds. Principal and in-1 terest rate for part of the bonds of either issue and another rate for the balance,^ ■: '■■' ;■ ;■?■■•# aswre&ate amount of interest upon oii of ilie bonds the Local Finance Law; Said Fire 1 respective maturities. ( until their The ap- ///' I? I\ v: 7 7/// THE COMMERCIAL & FINANCIAL CHRONICLE 954 proving opinion of Heed, Hoyt & Washburn of New York,, City, will be furnished; the purchaser. In the. event that prior to the delivery of the bonds the income received by private holders from bonds of the same type and character shall be taxable by the terms of any Federal income tax , successful bidder the law, may, Dated April 1, 1946. interest. At 111.861 De¬ 1 To the v < Monday/ February 18, 1946 = Harris Trust & $1,000. will bid bonds authorized issue held Oct. on certified able part pf the are to memorial stadium bonds amount- 1945. Enclose a $14,000, pay¬ held for Sale—The sewer Feb. on sale 12—v. 163, p. 827—were Reusch & Co., of Hamilton & Co., of Cincinnati, IV4S, at April (State of) 1 .• Award —George of Secretary 11 M. 7 At Garfield Heights City 4y2s, dated Oct. 1, 1927, and due in 1946 and 1948,, $32,000 follows: ' /'/7/ 1, au¬ These bonds 1*4% for also bidders, were: , ;* .V- Bidder bonds, „ Stranahan, Harris & Co., Inc. to Fahey, Clark & Co. Fox, Reusch & Co. 100.87 100.83 White & Co. -i_.100.53 Trust Co., Cincinnati—100.52 Halsey, Stuart & Co. __100.41 Dayton, Ohio Other Bids — The $53,000 fire of $561.80, - equal to basis of about 0.831% 163, p. 515—were also bid for follows: (all for Is) . 101.06, v. as a Company, Inc. 472.00 —— Due Sept. — Ryan, Sutherland & Company The National City Bank of 377.00 244.33 213.00 Cleveland J. A White & Co Fostoria, 465.87 City Auditor, will receive sealed bids until noon on March 4 for the purchase of $200,000 building bonds, not exceeding 4% coupon At 103.436 Messrs. - - Dated 77" bonds. the i $74,000 April and following lot: Garfield ;7;y Heights, $32,000 7 District School 77 4 ¥1% City bonds. Dated Oct. 1, 1927. Due $12,1/1946, and $10,000 April and Oct. 1, 1948. /• Oct. 000 Painesville School District, Ohio 7; Bond Election—An issue of 2% | Deficiency, Dated July 1, Due Sept. 1, $20,000 in 1934. Due Oct. 1, 1946 to 1948. There were ho bids received for Field, Richards ; & At 106.468 Cleveland 51/2 % improvement bonds amounting to $720,000 will be submitted the voters at the election to be Held Feb- 26. on "7:7 1946, $5,000 in 1947, and $10,- v Due 777 1948. , "s 1, 1931. 1, 1946 to 1946, Due Oct. and $25,- At 106.917 124,000 Cuyahoga County Deten¬ ■ Court ♦ and Juvenile 6% bonds. 1932. Due $22,000 April and $24,000 Oct. 1, 1946, $24,000 April and $27,000 Oct. 1, 1947, and $25,000 April, and $2,000 Oct. 1, 1948. V* /-;//*,; Dated Building Dec. 16, At 109.428 4 % 1927. 1> , ; - ' 140,000 Toledo, Maumee River Bridge 4*/2% bonds. Dated May 1,1929. Due Nov. 1, $60,000 in 1947, and $80,000 in Cuyahoga Improvement bonds. Dated Aug. Due $43,000 Nov. 1, 2lk% 1, 1939. 1946 to 2y2% bonds. Due 1940. Messrs. Lobdell & Co., of Oct. .Dated Oct. $102,000 1, 1, 1947, and $10,000 in , - on * Co.—V/4'fc Trust Co., 102.14 : 101.27* Cincinnati— /;.../ Roseville, 7 Bonds water 100,385 IYhVp, Provident Savings Bank & ;.7v/>: 1946 to 1948. At 103.99 Ohio { Purchased—An issue; of bonds revenue amounting Dated bonds. of Nashville; : ; ■ • • . /■ At 105.636 30,000 Cleveland General Sewer 4% bonds. Dated Dec. 1, 1930. Due $10,000 Sept. 1, 1946 to 1948... ,v:-' ' Alva, Okla. . April and Oct. 1, 1946 to 1948. Cleveland Trust the Co.: yy* At 105.29 '7* 39,000 Cleveland Refunding 2y4% bonds. Due Dated Sept. 1, 1937. Sept. 1, 1948. Delinquent Tax 4% bonds. Dated Dec. 1, 1938. Due $56,000 Dec. 1, 21,000 Cleveland Refunding 2J/2% bonds. Dated Sept. 1, 1938. 1, 1947. Due Sept. 94,000 Toledo bonds. Due Dec. 15, 1936. 15, $31,000 in 1946 and $32,000 in 1948. '■'7'7:_7,7;/' Heights/ School 4%% bonds. Dated ' Jan, 1, 1927. Due $16,000 Oct. 1, 1946 to 1948. ;, ^ / y y . amounting to $100,000 and on Feb. 5—v. 163, 827—were awarded to the Cen¬ tral National Bank, of Alva, as is, at a price of par. These bonds are due $10,000 in 1949 to 1958. The next highest bidder was C. Edgar Honnold, at a net interest offered for sale p. 1.0032%. "•/ , At 103.449 181,060 Toledo Refunding 2y2% Dated Craig County, White Oak Consoli¬ dated School District No. Dec. 1 (P. O. White Oak), Okla. Bond Offering—Willie E. Car¬ :y..y Refunding 2y2% Dated Dec. and 1947, ,y.;y- y.y. At 107.183 District ♦ Bond Sale—The convention hall bonds cost of At 103.458 Cleveland, Shaker building At 102.99 At 106.536 48,000 , . 90,000 Cuyahoga County Re¬ funding 3%% bonds. Dated Oct. 1, 1938. Due $15,000 To , vite), Ohio > .No Bids—No bids were received ; iri connection with the call for the y; 5,000 Cleveland, Public Hall An¬ nex 4V4% bonds. Dated Sept. 1, 1931. -Due Sept/1, 1946. 168,000 7 Re¬ purchase of $125,000 3%% bonds. Dated equipment bonds. 1938. Due $30,000 April 1, 1946 to 1948.7 ;/7/;7;-* OKLAHOMA /y- At 102.33 .*■'•/■'■ 1, AU04.226 10,000 Cleveland, City's Portion Street Opening 4y4% bonds. Dated July 1,1925. Due Sept. / ■ . Cuyahoga/ County Oct. , ' v funding Due Sept. 1, 1948. i - 1 . 90,000 Hayden, Miller .& Co., of Cleveland: ; f 'yy':-'--::' '■■■; At 102.33 77:" / 1, 1937. At 103.763 Messrs. 77y 1, 1946. March , Thompson Township Local Sch. Dist. (P. O. R. No. 3, Belle- • I ' 7v Jan. 7 by Fok, Reusch & Co.;> . / 1948. 5,000 Cleveland AircTaft Landing Field 4y4% bonds. Dated July To $70,000 was purchased private¬ on "77 Due $53,000 Sept. 1, 1946 to ^7 -'' . At 109.072 to of Cincinnati. 159,000 Columbus Refunding 3 % 10,000 Cleveland Hospital 5 V2 % bonds. Dated March 1, 1921. Due March 1,1948. 1946 to 1948. 1946 and & Sutherland & Co._. Ryan, Refunding At 106.11 1948. $1,000 Other' bid¬ Rate Price Bid White A. J. At 103.326 Cleveland due Bidder ■ 306,000 are ly To 1948. 110,000 Toledo Sewage Disposal 4%% bonds. Dated May 1, 1929. Due Nov. 1, $50,000 in bonds 1, 1947 to 1966. ders were as follows; 1948. Dated 1, 1925. 000 in 1947 and 1948. Home Sept, 1, 1948. Refunding 4y2% Sept. 1, 1927. Due Sept. 1, 1948. ' - At 106.677 tion River Refunding Oct. Cleveland 129,000 To the Commerce Union Bank 70,000 Cuyahoga County, Lorain Central Bridge 4*4% bonds. in At 103.498 , s- 1,' $20,000 bonds. Dated Due Nov7 ;1, , $54,000 Sept. Dated June 1926, At 110.50 7 . 162,000 Cleveland, Refunding 4% bonds. Dated Sept. 1, 1936. Ohio Bond Offering—Gerald D. King, 1938. 1, Toledo • 1, 1947. At 105.693 4%% 1, bonds. and 1947, ■ Company, Inc. / To Due Sept; Hall, 15,000 Cleveland Street Opening, 6% bonds. Dated Dec. 1, 1932. j Halsey, Stuart & Sept. Sept. Co., of Cleveland: 35,000 bonds. bonds.; Dated Dated At 108.943 $540.60 Braun, Bosworth & Co Stranahan, Harris & Public $20,000 x 12,000' Toledo 13,000 in $15,000 in 1948. 1946, Premium Bidder bonds, At 110.26 Nov. 1, Due Nov. 1, $10,000 in bonds. 1921. : apparatus bonds awarded Jan. 22 VanLahr, Doll & Isphording, of Cincinnati, as Is, at par plus a premium Dated 1, $5,000 in 1947, and $24,000 in 1948. 7 1948. Dated July 1, Cleveland, 5V2% 1: to _ Due These Nov. ^ $10,000 Oct. 1, 1946 & // ' ' 1948. 45,000 // Provident Savings Bank & 4%% Dis- At 109.471 ^/•i_101.l5 - bonds. 1938. Guaranty Trust Co., of v*:; ■ At 104.248 7 r 444,000 Cuyahoga County Bridge 3JA% * bonds. ; Dated ; Jan; 1; Refunding Cleveland 2y4% 1946 to 1948. y Crossing . Due \'" •——..*..101.16 Inc. J. A. 7 : „ Braun, Bosworth & Co.,' To the New York: , , Prairie Township (P.O. Columbus), April 1, -1926. Due $16,000 77 000 March 1, 1948. ; Ohio 7; OCt. 1, 1946 to 1948.* ■' To the National City Bank of Bond Sale-r-The $20,000 fire New York:* 77777^7::/-^7/; • ; 1. At 109.775 equipment bonds offered for sale At 103.^38 > 20,000 Summit County Road on Feb. 4—v. 163, p. 363—were 7 * Bridge 5% bonds. Dated May 71,000; Cleveland Refunding awarded to Fox, Reusch & Co.; of ; 7- 1, 1919. 2y2% bonds. Dated Sept. 1, Due $10,000 Oct. 1, 1936. Due Sept. 1, $21,000 in Cincinnati, as iy4s, at a price of y 1947 and 1948. 1946, $22,000 in 1947, and 100.429, a basis of 7abput71.207. 7 At 111.60 Dated Feb. 1, 1946. Denom. $1,000. $28,000 in 1948. 12,000 Toledo, Main Street Grade * City School trict 5% bpnds. v -"7* 1929. Price Bid - 1, lip v Atl07.653 >r Akron 30,000 July Dated bonds. Due $15,000 Oct. 1929. $5,000 on May and Nov. due 15, 1947 to 1959, and $6,000 May and Nov. 15, 1960 to 1969. Other jv 5% 1946 to 1948., was Denom. $1,000. 1946. 1937. , . trict thorized at the November election are 29,000 $63,000 Dec. 15, 1946 to 1948. • City School Dis¬ Akron 45,000 Bonds Sold—An issue of school Dated March 1, 1, in 1947, 2^% 15/ 1936, \ ...... of 1.132%. Sept. Dec. . At 107.653 Local Sch. Dist, (P. O. Mt. healthy), Ohio basis 6% 48,000 Newark Sewer Improve¬ - . awarded on Feb. 8 to Ryan, Sutherland & Co., of Toledo, as iy4s, at a price of 101.321, a Due Dated ' Colerain Township 1945, bonds. At 104.832 At 107.363 -- in Water and Oct. 1, is under bonds amounting to $250,000, Dated bonds. Dated Oct. 1, 1932. Due $5,000 At 106.823 . At 103.676 189,000 Toledo Refunding j At 105.413 Due Sept. 1, $12,000 and $1,000 in 1948. .. Co., of New York:/■/■•;::7/7■:■ 77/:// 13,000 . Cleveland ; Refunding 4 % . : v consideration $90,000 Akron Street Improve¬ ment 41/2% bonds. Dated calling for the issuance of police Sept. 1, 1939. Due $30,000 Oct. d^nartment bonds amounting to 1, 1946 to 1948. $40,000. v \ ' : re:olution ;; & 1946, and $2,000 in 1948, 114.85 er ment Alliance, Ohio 1931, in bonds. 15,000 Montgomery County Sew- bonds sold is as v' s; 4y4% bonds. Dated Sept. Due Sept. 1,-$10,000 /. To Messrs. Kidder, Peabody '-:-- 1, Due $5,- 7- To Messrs. Lazard Freres & Co.: 3end Resolution Considered—A nex Euclid 7/7 and $69,000 in 1948. 1' 1948. OHIO 7v y At 103.126 At 109.266 received. , -' '7- ' 36,000 Toledo Refunding 2J/2% School bonds. Dated Dec. 15/ 1936. Dated yDue $12,000 Dec. 15, 1946 to Oct. 1, 1920. Due Oct. 1, 1948. School District A record of the Bank of - Is¬ & Special Assess¬ Refunding 3V4% bonds. Dated Nov. 1, 1940. Due Oct. 7' 1, $68,000 in 1946 and 1047, 10,000 Lakewood City yy District 6% bonds. aggregate of $4,249,000 were sold competitive bidding on Jan. 30. The unsold bonds consisted of for which no bids were 4%% • Doll Lahr, & Irvjng ment >12,000 Cleveland Public Hall An- ^ 1, 1938. City At 102.771 1, 1946 and 1947, and $10,000 Nov. 1, 1948. via • * District State the National Cleveland/ and Associates: 000 Nov. ports that $4,217,000 bonds of an price of - School Retirement System, re¬ Teachers' the & -'7/ 205,000 , To 20,000 Harrison Township Rural Interest Van ly; Cleveland Hospital, 4% bonds. Dated March; l;yi9$L Due Sept. 1, 1948. , ry At 108.70 1946. 1, Ohio following bonds , 1947.. Dated Nov. Pogue, . •; , A-O. £ \ . . Refunding 4%% bonds. Dated Aug. 31, 1935. Due Oct. a, $34,000 in 1946, and $35,000 in from 1946 to 1957. amounting to $190,000 and offered for sale on Dec. 17, 1945, were awarded to the Allison-Williams . 1956. to Dated N. D. , 7 7 and Bank Roth phording, all of Cincinnati, joint¬ & 10,000 At 104.718 . McDonald ' •; y *;, ~ 69,000 Euclid Special Assessment Due from v7 ; : 35,000 swimming pool bonds. Due 1946 Portfolio $108,000 funding bonds. 82,000 refunding bonds.,,, ■'W ' . , 5,000 garage bonds. net interest cost of 1.71%. par: . Due Due from 1946 to 1957. Greensboro, jointly, for $10,000 2V2s, $30,000 l3/4s, and '$10,000 iv2s, at a price of 100, a Co., of Minneapolis, at a At 105.421 25,000 fire engine house bonds. Corp., Bond Sale—The ' from 1947 to.1957, Corp., Durham, and Vance Secur¬ M and an, resurfacing £ bonds. 10,1)00 ~ and Savings Weil, Co., At 108.94 y bonds. Cuyahoga County Re¬ funding 4*/4% bonds. Dated Oct. 1, 1939. 7 Due $77,000 April and Oct. 1, 1946 to 1948. , maturing $2,000 June 1, 1948 to 1952, as 4s, and $40,000 maturing $2,000 June 1, 1953 to 1972, as PAs.V-Interest J-D. Dated Dec. 1, 1945. Denom¬ ination $1,000. The next highest bidder was the First Securities 4%% 462,000 '7 follows: for $10,000 NORTH DAKOTA as Co., Phelps, Fenn & Co., York, Provident Trust Co., of Cleveland, jointly: 1, 1924. Due Oct. 1, $25,000 in 1946, $26,000 in 1947, and $25,000 in 1948. - ; price of 101.495, a basis a New City Heights District To Messrs. of 7/::777'7f7',: To Messrs. Seasongood & May- -1 er, 7yT,'' 1947.; .y_:;; 7 y-7,^77 v 1919. 1, :77. At 105.26 posal 4%% bonds. Dated Aug. 1, 1930. Due $23,000 Oct. y Dated Aug. •> • $35,000 storm water sewer bonds. 7 Due from 1946 to 1957. Cincinnati, at a price of 100.004, a net interest cost of 1.415%, as Cleveland School of about 0.98%: Chester, and Browning & Co., of ities Montpelier, of Bank tional awarded to Fox, March 1947., At 107.363 76,000 bo: ids amounting to $110,000 and offeied for sale on Jan. 21—v. '162, p. 3127—were awarded to the Na¬ water $50,000 bonds offered for Dated Ohio Montpelier, Treasurer. State Landis, N. C. and bonds. Due March 1, March 19. on City's Portion Improvement 5% Cleveland,' Sewage' 23,000 ,, Cleveland Street to $50,000 will be submitted to the voters at the election to be election Bond Sale-—The following Bond 5,000 $1,150,000 nig the at 29, check the These returned. be 71 1947.7;777 /;;/> • ^ At 106 39 Dated 5,000 Toledo Refunding 4% 7/7; bonds. Dated March 1, 1936. 7 Due Sept. 1, $4,000 in 1947, /, and $1,000 in 1948/K/7:/77;>7v| Dis- f $36,000^: in bonds., 1/ 1927. Due Sept. , 1, $3,000 in 1946, and $2,000 in 7 , , 4J/4% 77 Dec. 7. Imprbve- Bridge Dayton ment . ,7: At 103.24 5,000 , , • 7/7,7 • relieved of his , obligations under the contract to check for $2,000, 000 in 1946, and purchase the bonds and/in such 1948.v-y;; Lisbon, Ohio // case, the deposit accompanying Bond Election—An issue of war yy :-. 7 At .104.98 his Cincinnati: Toledo . at his election, be To Messrs. J. A. White & Co. of Savings University '5%: Bank ofChicago: ;»^v C'-.i 1 bonds. Dated Sept.yi:/:4929/ yy1'.., At 109.16 Oct. Due Sept. 1, 1948. terest to be in multiples of V4 of 15,000 Cleveland, City's Portion 7 ' : y Street Opening 4% bonds. 1%. These are the bonds author¬ To Messrs. Ball, Burge & Kraus / Dated Feb, 1, 1929. Due Oct. ized at the general election on and Otis & Co., both of Toledo, Nov. 6, 1945, Principal and inter¬ 1, 1948. y jointly: est payable at the City Treas¬ At 104.622';7y:-yyg;ii:;7::! /77;/;>;7/; At 108.518 ;7:y,,.,;:::7A urer's office. Legality approved / 5,000 Cleveland Refunding 2y^% 82,000 Canton City' School Disby Squire, Sanders & Dempsey, bonds.. Dated Sept. 1, 1937. trict 6% bonds." Dated Sept.; of Cleveland. Enclose a certified Due. Sept,-,iy 1948. 20, 1920. Due Sept. 20, $46,60,000 Due $20,000 1, 1947 to 1956. Rate of in¬ nomination penter, District Clerk, will receive sealed bids until 2 p.m. on Feb. 15 the for of $10,000 These bonds are $2,500 in 1949 to 1952. The purchase building bonds. due bonds will be awarded to the der offering the lowest rate of inagreeing to pay par and terest and accrued interest; Enclose a cfer- 15, 1936. Due Dec. 15, $60,000 in 1946 tified check for 2% of the amount and bid. bonds. . 1947, apd $61,000 in 1948. * .. , , bid-' f \ !| Volume THE COMMERCIAL & FINANCIAL CHRONICLE 4465 Number 163 Bond sale awarded to 163, p. 515— syndicate com¬ a held election on ' ■■ - . These bonds due in 10 years, are posed of the First National Bank Skiatook, Okla. Edgar Honnold, Bond \ Election—An issue of City, and the $75,000 electric distribution system Stillwater National Bank, of Still¬ oonds will be submitted to the water, at a; price of par, a net voters at the election 'to be held interest cost of 1.199%. These on Feb. 21. 6 Trust both bonds Co., C. Oklahoma of .7.777/7 *'77.7'."7. mature $11,000 in 1949 to 1967 and $16,000 in 1968. The $195,000 bonds also offered on Jan. 31—v. 163, p. 515—were awarded to Evan L. Davis, of Stigler, Okla. Hull, Town , Bond Offering—Will receive sealed bids Feb. 21 for the pur¬ chase of $50,000 water works ex¬ tension and improvement bonds and $35,000 sewer bonds. The $50r 000 issue matures $3,000 in 1949 to until 2 pm on Tulsa, as follows: $150,000 city hall bonds, at a price of 100.031/a net interest cost . : of • 1.055%, 1 . 45,000 fire station bonds, at a price of 100.039, a net interest 77 v These bonds Other bidders Bidder on were For 1945. i \ $225,000 Bonds First National Bank, Cushing, and * : f'S Farmers National Bank, 7 Co., Oklahoma City, ' and Associates -->—--1-100.00 Trust in For '' f 1C0.00 , any Bonds to redeem said paying date at or from the date said Principal and years issued. are interest payable at the name & City Treas¬ Each bidder should the rate of interest at which accept the bear the rate or rates of interest designated in the bid accepted. These are the bonds authorized at the elec¬ tion held on*Jan. 11. The bidder will be required to add to the bid a statement of the net cost to the the bidder is willing to The bonds. (Net interest dost 1,07%.) 7'7/V; Associate ——100.00 (Net interest cost of 1.08%.) Edwards, Inc., and National Bank, First 5 urer's office. , ,7 Trust Co., Oklahoma City 77 and Associates -———.100.00 R. J. option interest bonds : «. City shall 1966.7 The to the after 7"w_ 7 -100.012 National Bank First . 1.208%.) $45,000 sealed bonds, in numerical order upon the payment of the face value thereof with accrued interest on , Canfield & bonds will Cushing, and 7 City if his bid is accepted. • The 100,007. approving opinion of Teal, Win* (Net interest cost of 1.10%.),. V. free, McCulloch, Shuler & Kelley, Calvert & Canfield—-—100.0371 of Portland, will be furnished the purchaser. Enclose a certified (Net interest cost of 1.18%.) '.7 check for 2% of the par value of Garfield County (P. O. Enid),-, the bonds, payable to, the City.. Associate > Okla. 1 A ■ $350,000 free PENNSYLVANIA' fair bonds offered for sale on Jan. Punxsutawney, Pa. 28 were awarded to the First Na¬ 7;f77) V Bond Election An issue of tional Bank & Trust Co.. of flood prevention bonds amounting Oklahoma City. Denom. $1,000. to $125,000 will be submitted to These bonds are • due $44,000 in the voters at the election to be 1949 to 1955, and $42,000 in 1956. held on March 5. .7 Authorized at the election held oh Bond Sale—The .... — Dec. 22, bidder was Evan L. Bond Sale—The City: 7 be¬ tures grew greater discontinued.) as operat¬ expendi¬ revenue borrowing School costs or high of $104 in Narragansett, all small towns, the Council reported, but noted that costs generally are lower in smaller towns because serv¬ ices provided are fewer and less expensive. .7 7" ; ; The importance of property taxes was emphasized, the Coun¬ cil's figures showing the nine largest municipalities got 81% of , their while from income the710 that smallest source, got only fire Additional Texas - result of a Information — As a typographical error, the amount of the school construc¬ tion and site bonds recently pur¬ chased by Paine, Webber, Jackson & Curtis, of Chicago, and associ¬ incorrectly shown as in the report of the was I ISLAND .Local Outlays for Debt and The Jan. of) Other Than Relief Show Increase— following is taken from the 30 issue of the Providence 7 Municipal that appeared in 828. The correct amount $2,500,000 and the bonds were 163, offered by the voters' issue of an dispose of the remaining $500,000 bonds until such time finally determined. of the $2,500,000 the the as as¬ was maturing in 1962-1965 been sold by the under¬ writers after the close of business the on initial offering connection with date. In the sale, the fol¬ lowing aditional information is of interest: The Lee Higinson Corp., of Chi¬ plant Feb. offered bonds 11 for sale on 707 — were awarded to Kalman & Co., of St. 163, —v. p./. Paul, and J. M.fDain & Co., of Minneapolis, jointly, as l%s, at a price of par. Dated Jan. 1, 1946. These bonds are due in 1961. 00tional*in 1954. held election , ' on Jan. 15. . ■ 1946. Denomi¬ nation $1,000. Principal and in¬ terest payable at the Corpus Christi Bank & Trust Co. Direct bonds revenue amount¬ ing to $700,000, was introduced recently in the City Commission. TEXAS in 1, general obilgations of the en¬ and tire ^District, payable from ad valorem taxes levied against all 77777777 taxable property therein, within r * ■ the limitations provided by law. ■ Legality approved by Chapman & election to submit to the voters an of 77; Dated March Authorized at the * .'"7 7 Yankton, S. D. Bridge Purchase Proposed—An issue $280,000 in 1968, as 2s. », . ^ $10,000 was submitted to the ; : Bank, * Sons, and jointly, $334,000, 3V2s, .. $1,276,000, iy4s, and $390,000, 1.10s 100.017 For (Net interest cost 1.3055%.) Blyth & Co., Lehman .Bros., Stranahan, Harris & Co.,' Inc., McCormick & R. S. Dickson & Co., Dallas Union Trust Co., Dallas, Kebbon, | v Co., «• { . Texas Bank & Trust insurance March 5. —100.00 1,32855%.) Chemical Bank & Trust Co., New York, ' ' 7 Equitable Securities Corp., Schoellkopf, Hutton & '-TI $1,710,000, iy4s (Net interest cost Pomeroy, Bond Chicago, 20v 7.;. 77 , /,/. * . be ; to 7;7y held ; 7 *7 - 7 on - i \ •: 7j Worth, jointly, For $404,000, 3y2S, and ^ : $1,596,000, iy4s 100.003 (Net interest cost, 1.366%.) of issue Election—An election Co., Co., Kansas City, and Continental National Bank, facility improvement re¬ venue bonds amounting to $5,000,000 will be submitted to the voters the ' Co., City National Bank & Trust Fort « ' W. E. Hutton & water at * Central Republic Corpus Christi, Tex. First National , Bank, Chicago, , Northern Trust Co., 1, ; v . "...Chicago, : 7 7 -"' .7.7 { ;.7;:'7 John Nuveen & Co., J Braun, Bosworth & Co., Inc., .7-0] 7. Bonds Purchased—An issue of series of 1945, water works and C. F. Childs & Co., " \ sewer system ref. and impt, rev¬ Hornblower & Weeks, 7 1 enue bonds amounting to $50,- Martin, Burns & Corbett, | 000 was purchased recently by Newburger, Loeb & Co., and 7;>'■.■/ . , v' Decatur, Tex. ,, ^ Hatcher & Co., of Dallas, at a price of 100.50, a n£t interest cost of 2.748%, as; follows: $20,000 maturing Dec. 1, $2,000 in 1946 to 1949, $3,000 in 1950 to 1953, as 3s. and. $30,000 maturing Dec. 1, $3,000 in 1954 and 1955, and $4,000 in 1956 to 1961, as 23/4s. Interest J-D. R. A. Underwood & Co., .jointly,'. * 7-7::;7 ;■!. 7; For $2,000,000,, iy2s_„._100.439 (Net interest cost 1.4683%.) 7. . Lazard Freres & El Paso, Lee Planned—An is¬ storm sewer, street repair and airport expan¬ sion bonds amounting to $1,000,000 wil be submitted to the voters at an election to be held some¬ of time in recreation, July. ; v .- J7 Co., Higginson Corp., Coffin 7: - 77' 7 & Burr, G. Becker & Co., , .,7.77 -7,..7' Boettcher & Co., Tex. Bond Election sue Co., Estabrook & A. ■ refunds, ~ Worth, . ■ tax 7 . C. Edgar Honnold, Cutler of Chicago. . defense ■ - Rhode 1 ■; — ' to Fort ■' E. H. Rollins & ex¬ circles, with all but part of having Corp., in invest¬ bonds ,7 Stone & Webster Securities The offering block tremely well received ment Halsey, Stuart & Co., Blair & Co. ,Inc., syndicate subject approval of an election on Feb. The district has agreed not to Feb. government costs p. | ^Journal": 7'77- 77.7 7;7V;77'X •' department bonds. transaction is cago, * v _ Co., Robinson-Humphrey Co., of Dallas, and State taxes shared with commu¬ Atlanta, Ru9s & Co., of San An¬ nities, such as liquor and horse tonio, Rauscher, Pierce & Co., of Moroney, Beissner & Co., jointly, race betting, yielded an average Dallas, Fox, Reusch & Co., of Cin¬ For $265,000, 4s, and of 3.2 to 3.8% of the communities' cinnati, Columbian Securities $1,735,000, iy4s -_ioo.on income, regardless of size, the Corp., of Texas, Dittmar & Co., (Net interest cost 1.3153%.) Council found; but State grants-* both of San Antonio, F. Bert in-aid, such as for relief, schools Smith & Co., of Corpus Christi, R. Harriman Ripley & Co. Inc.; and highways were of "far greater J. ;v; Edwards, Inc., of Oklahoma Mercantile-Commerce Bank ; " & Trust Co., St. Louis, importance to smaller towns," City, - and the Robert Mclntyre amounting to 17% of all revenues Co., of San Antonio, were asso¬ R. W. Pressprich & Co., in the 10 smallest. . ciated with the above named in Eldredge & Co., the offering of the bonds as fol¬ Illinois Co., Chicago, Stern Bros., & Co., lows: $540,000 maturing March 1, SOUTH DAKOTA First National 'Bank, $30,000 in 1947 to 1952, $35,000 in Belle Fourche, S. D. ( St. Paul, ' * i 1953 and 1954, $40,000 in 1955 and 1 Bond Election An ' issue of ,, • 1956, $45,000 in 1957, $50,000 in First National Bank, municipal swimming pool bonds Minneapolis, ; 1 1958, $55,000 in 1959, $60,000 in amounting to $50,000 will be sub¬ J. M. Dain & Co., \ ,, .J.¬ 1960, as 1V4S, and $1,960,000 ma¬ mitted to the voters' at the Spring turing March 1, $185,000 in 1961, William N .Edwards & Co., election. 7' and 7: • ' "7'v77'«7;.v47r;7-:;.V: J$235,000 in 1962, $230,000 in 1963. Elkton, S. D. $235,000 in 1964, $260,000 in 1965 Smallwood & Co., jointly,f For $290,000, 4s, and Bond Sale—The $60,000 sewer and 1966, $275,000 " in 1967, and 69%. Island, except for relief 777.7 7;7 7 Amarillo, Tex.. ; / 7"'/. vy f and debt payments and not in¬ Bond Election Planned and 7 Due from 1949 to 1961. cluding expenditure of borrowed Bonds Approved—-An issue of 81,400 water works bonds. Due money, jumped 13.6% in the five $925,000 various bonds will be 7' from 1949 to 1964. submitted to the voters at an elec¬ years from 1940 through 1944. '7,000 airport bonds. Due from This jump, according to a Rhode tion to be held in the near future. 1949 to 1955. '/J* v' -7 ' / Island Public An issue of city bonds amount¬ Expenditures Coun¬ 1 The next highest bidder was the cil survey, boosted the average ing to $2,400,000 was approved at City National Bank, of Lawton.per capita expenditure in 1944 to the election held' on Jan. 15. $53.88, which was $3.83 higher Hooker, Okla. >. Andrews Independent School than in 1943. "7 77,77,7/7 V Bond Sale Details—The $18,000 District, Tex. Cities and towns in the State water system bonds awarded on Bonds Voted—An issue of school have been spending more money Jan. 29 to C. Edgar Honnold, of bonds amounting to $200,000 was for all purposes except relief and Oklahoma City, as 2y>s—v. 163, p. favorably voted at the election debt payments, the council re¬ 827—were sold at a price of held on Jan. 15. ported in its second annual com¬ 100.11, and n>ature $3,000 on parative analysis of revenues, ex¬ Brenham,Tex. March 1, 1949 to 1954. Net income penditures, indebtedness, assessed Bond Election — An issue of basis of about 2.228%. valuations and tax levies of the street paving," storm sewers and 39 communities. culvert bonds amounting to $350,Leedy, Okla. Schools, highways and such 000 will be submitted to the voters Bond Election Held—An issue miscellaneous* items as civilian at the election to be held on of the following bonds amounting $i3,600 District, ' ates, were the purchase of ,the Missouri River Bridge by the City and providing for an Rhode Island (State i following bonds amounting to $102,000 and offered for sale on Jan. 28—v. 163, p. 515 —were awarded to the First Na¬ tional Bank & Trust Co., of Okla¬ homa RHODE t Hobart, Okla. 1 1940 finance to and costs, was in it discontinued the practice borrowing ing than ordinance calling for The next highest Davis. 1945. of 1945 and cause the Mundt, Offering—Alfred 1962 have (Net interest cost 1.097%.) (Net interest cost 1944 Corpus Christi Independent School sessed valuation for 1946 has been March 4 for purchase of $125,000 park and playground bonds. Dated April 1, 1946. Denom. $1,000. These bonds are due on April 1, as follows: $6,000 in 1947 to 1961, and $7,000 (Net interest cost 1.08%.) 7 Culvert Providence increase was one of revenue expenditures only; actually, the city spent less in 1943 Price Bid and Burrillville to a the }£;'[ (Net interest cost 1.10%,) Bidder Phelps, Fenn & Co., F. S. Moseley & Co., Paine, Webber, Jackson & Curtis, Shields & Co., First of Michigan Corp., G. H. Walker & Co., Gruntal & Co., Cruttenden & Co., and Rauscher, Pierce & Co., 'jointly, ! For $334,000, 4s $70,000, 3s, $859,000, Is, and $737,000, iy4s 100.00 (Net interest cost 1.28%.) Fort Worth National bids until 7:30 p.m. on f decrea-se. a as lows: $3,000,000 at City Recorder, will receive , First National Bank & , fol¬ 23, Salem, Ore. 100.007 Cushing, and 77 Associate 163, 828—were also bid for p. Legality Approved—An issue of 2y4% and 2%% sewer im¬ rose' $716,000, or 40%. Per capita costs in 1944 ranged from a low of $23 in Coventry 77 Bond (Net interest cost 1.318%.) First National Bank, terest cost of about 1.24%—V. Caldwell, Tex. Bond council reported, Pawtucket, Cranston and provement bonds amounting to Woonsocket responsible for an¬ $25,000 has been approved as to other $990,000. The rest was split legality by W. P. Dumas, of Dal¬ among other communities, except las. There bonds are dated Oct. 14, for Narragansett, which alone 1945.7 ' " ; " (The New York, price of 100.069 rates, a net in¬ a for various couoon with showed of pense" purchase of electric light and plant bonds amounting to OREGON ;__100.017 — future. Corp., and Associates, at Hemphill, Noyes & Co., Otis & Co., Inc., and ' Sraall-Milburn Co., jointly_100.016 (Net interest cost 1.268%.) ' Edwards, Inc., and election to be an near Securities to power For $150,000 Bonds voters at $2,000,000 bonds awarded Feb. 5 to the Union 31%, and the miscel¬ laneous group listed as "other ex¬ sealed Feb. 18 for the (Net interest cost 1.238%.) & Canfield to the held in the Texas Bids —The $426,000 receive will Clerk, bids until 8 pm on R. J. Edwards, Associate $1,000,000,7 the ing to $520,000 will be submitted Fort Worth, Other v. __ R. J. vidence alone accounted for about of construction bonds amount¬ ditures, the Council reported, advancing $1,300,000 ,or 12%. Highway expenditures jumped Cushing, jointly —100.00£ $85,000. These bonds were author¬ (Net interest cost 1.238%.) ized at the election held on Evan L. Davis 100.00 Jan. 22. - Calvert Brownfield School District, Tex. Bond Election Planned—An is¬ sue of the amount bid. for 2% City f * most $2,000,000 check Bid „ for spending, which roughly $23,500,000 and in 1944 reached $26,700,000. The figures do not include relief, debt and water department spending. Of that $3,200,000 increase, Pro¬ responsible for the biggest increase in expen¬ Price 1 accounted was Waynoka, Okla. <Bond Offering—Nelson J. Parks, follows: as like increased 1940 and crued interest. ' ' fering the lowest rate of interest agreeing to pay par and ac¬ Enclose a certified authorized at Dec. 11, were * $2,000 in 1965. Bonds bidder of¬ 1964, and will be awarded to the cost of 1.054%. the election held will Clerk, the and of the in $6,500 water system bonds. 3,500 sewer system bonds. Tan. 31—v. on were Feb. 11: Sale—The improvement the at voters Ohla. $225,000 park bonds offered for Gushing, ■ 955 v Mullaney, Ross & Co., Louis B. Henry Investments,-and WmfR, Compton & Co., Inc., jointly, * • 7 ' For $265,000 4s, $358,000 l%s, . and $1,377,000 iy4s -__._100.016 (Net interest cost of 1.3603%.) THE COMMERCIAL & FINANCIAL CHRONICLE 936 Postponed™—An Election voters election to submit to the voters an issue of $509,000 school bonds has postponed, from Feb. 9 to been Feb. of issue of im¬ an and - expansion amounting to $175,000. provement District, Tex. Bond the to School Park Independent Galena 23. bonds 1.68%. Orange, Tex. Bonds Voted and Defeated—An amount¬ issue of fire station bonds ing $100,000 to M-N. Interest The On Feb. 13 District next Community Gregg County, Sabine (P.O. Sch. Dist. No. 4 1.218%. ■:: .. Harlandale School District, Tex. ' issue of construction bonds amounting to Bond Election Held—An $350,000 - was at. the voters Feb. 16. submitted to the election held on y.! ^ , JEJonds To Be Issued—The $350,- held recently. Tex. 54.96, 25th Avenue, District No. \ ; Bond issue No. 7 of Bonds held To Issued—The Be recently. $1,- ' v\ ^ as to Approved—An issue of 2 !4 %y 1xk %, and 3 % court and jail bonds amounting to $1,750,000... that carried at the election held on Nov. 17, 1945, house road approved was These - bonds dated are 1, 1945.' "/' Ward by W. P. Dumas, of Dallas. bonds are dated Dec. Texas highest price- offered for bonds bearing such.rate./* Principal and sue of hospital bonds amounting' interest payable in lawful money to $300,000 will be submitted to at the State Treasurer's office; or of construction to $100,000 bonds to be 2. , ■ ; • the on the at c^y , ; National Bank, New City bonds These York. issued are 'f-x7Pulaski, Va. -■ . [ Bonds Voted—An issue of water system bonds amounting to $550,000 was favorably voted at known Constitution the ; at and equipment bonds mitted to the voters will be sub¬ at 000,000 State Road Bond Amend¬ ment and under authority of an Act of the State Legislature, 1945„ Districts, • Sold—The school bonds H. Treasurer, has following for called 1 — ■ . is Wash. the that J Called Bonds City On Feb. 3 as when interest, other sufficient are revenues agreed that, within the limits L. Collier, Board announced State bonds are , • 5567, 35th Avenue, Wrest, et ah bonds Nos. 3 to 45. of levied annually cause collected and tax annual an State, until this bond is fully paid, sufficient to pay the annual inter¬ est on principal this bond and the thereof within the time this and due becomes bond than par crued interest will calculated be to delivery. Pur¬ be required to. pay accrued interest to date of deliv¬ chasers y;/ Delivery will be made in New York City. T^ expedite de¬ livery if desired interim certi¬ ficates will be furnished purchas¬ ers. In the event that prior to the ery. delivery of the bonds, the income received by private holders from and char¬ bonds of the same type acter shall be PORT OF NEW YORK AUTHORITY declared to be taxa¬ ble under present Federal income of the laws, either by a ruling tax Bureau of Internal Revenue or decision of a Proposals for Port of New York Authority General and Refunding Bonds of the ELEVENTH SERIES, Due 1986, (First and Second Installments), \yill be received by the .Authority Tuesday, February 19, 1946, check in the amount of the result of bids at or at 11:00 A.M. issued, Director of the an of Road bonds alike in all respects to this issue at the same price, conditions and terms bid for this issue. In the case option exercised,; the iadditional will not be offdred is not bonds for sale until after the successful bidder has had reasonable a opportunity of this issue. pose to dis¬ CANADA a any income Federal tax certified check COMPANY 30 or announce that Broad recently to a,syndicate headed by the Dominion Securities Corp,, of 163, p. 828—were purchased by the group at a price of 98.63, a basis of about 3.10%. Dated March 1, 1946. Denoms. $1,000 and $500. These debentures due are March m-s, Street C. O, 1964. Interest NOVA SCOTIA ; Windsor, N. S. Purchased—An Bonds : issue of 3% improvement bonds amount¬ ing to $19,500 was purchased on Dec. 27, 1945 by J. C. Macintosh & Co., af Halifax, at a price of 101.38, a basis of about 2.766%. These bonds due are L Dec. on 1946 to 1957. ' * Shelburne, N. S. v Bonds Purchased—An issue of 3% improvement bonds amount¬ ing to $10,000 was purchased on Dec. 27, 1945 by the Eastern Trust Co. of Halifax, at a price of 101.00, basis a bonds of about due are on 2.644%. Dec. 1, These 1946 to 1950. ONTARIO 5 Canada (P. O. Ottawa), Can. ; Bills Sold—An issue of treasury bills amounting to $75,000,000 was Feb. 7, at an average yield sold of on 0.363%. These bills Dated Feb. due are on 8, 1946. May 10, 1946, Pel ham Township (P.O. Fan-' wick), Ont. Purchased—An Bonds issue of 3% township bonds amounting to $20,000 was purchased on Dee. 27, 1945 by Bruns Bros. & Denton, of Toronto, at a price of 100.08, a basis of about 2.98%. due are on Dec, 31, These bonds 1946 to 1960. QUEBEC Coaticook, Que. Bonds - BELL, Secretary. pursuant to which these bonds Purchased — An issue of $117,000 3% improvement bonds was purchased recently by the Royal Bank of Canada, of Mon¬ treal, at a price of 101.63, a basis of about 2.75%, These bonds are due ' 1, . j Board of Directors of this Company has day declared a dividend of Twenty (20) 1946. Details—The Toronto—V. The 21, (Province of) Sale $4,000,000 3% debentures awarded on N. Y.. January 31. 1946. Cents per share on the outstanding capita! stock, payable March 15, 1946 to shareholders of record at the close of business February day. Debenture law DIVIDEND NOTICES this on NEW BRUNSWICK New Brunswick Federal Court by the terms THE BUCKEYE PIPE LINE $384,000. The Authority will before 6:00 P.M. may of any be taxable New York, Authority, and of the resolutions be shall on Copies of the prescribed bidding form, of the Official Statement to or $18,250,000 at the accepted price. Each offer must be accompanied by of the be one (EST), Feb. 25, to additional $1,000,000 p.m. purchase will until by at its office, A sufficient number of bonds will be sold to raise funds in the amount of are o'clock option an at. less 1945, past due coupon before clipped 7.' awarded and accrued interest. Ac¬ from Nov. 1. s ap¬ payable. bonds cannot be sold The cashier for, payable to the State. ;The successful bidder the to be property in the all on of Works Public shall State sum bid final Enclose-a certified check for 2% of the face value of the bonds bid prescribed by the Constitution, the payment at his office: District No. known not available for that purpose, it Seattle Local Improvement O. Denver City), Tex. '■] and funds and WASHINGTON tion to be held in the hear future. Sligo Indep. Sch. Dist. (P. Session, Regular sum U elec¬ an Tex. THE the $50,- as En¬ y':'>Shamrock, Tex^yy'yy ■<'' an election held recently. These rolled House Bill No. 119, passed March 3, ;i Bond Election Planned—An is¬ bonds may be placed on the mar¬ 1945. : To secure the sue of $20,000 hospital purchase ket before end of February. payment of this bond, princioal . Independent District, election future. under authority of amendment to amounting was submitted to the election held School amounting to $300,000 and offered for sale on Dec. 21, 1945,-: were Submission of Bonds Approved awarded recently to Vieth, Dun¬ —On Jan. 14 the Board of can & Wood, of Davenpprt, and Trustees approved the submission Shaw, McDermott & Qoy of Des Pleasant the at near is¬ issue Held-r-An Election Bond bearing the low¬ interest rate and to pay the est .'y ;4'.■ {/;'■■,District, TexCM*/?:;: vj: Bonds Mt. furnished. with W., bonds Nos. 24 to 26.. proving opinion of Caldwell, Mar¬ jInterest ceases on dates called. shall, Trimble & Mitchell, of New Cash is also available to apply on York, but will be required to pay the following matured bonds: the fee for approving the bonds. to take the bonds County (P.O. Monahans), Bond Election Planned—An the. voters These 1945. 15 Feb. -v .. to legality as $450,000 on be N. - , has been approved to held in the Sealy Independent School Feb. Legality ing sale 2^2% and legality by W* P. Dumas, of voters Motley County (P.O. Matador),; Bond 21//4%- County 600,000 drainage bonds will be is¬ sued as a result of. the election of issue 21/2 % school house bonds amount¬ Approved—An Legality series of 1945 bonds Dec. Drain District (P.O. Beaumont), Tex. / Jefferson Purchased—An , . Dallas. v : . , re¬ . Honey Springs (P. O. Dallas), Tex. 000 improvement bonds will be issued as a result of an election Bonds ■ . successful ♦ • and offered for 11, was awarded to defeated: ;: V • ■<• -,John Nuveen & Co., of Chicago, District No, 3444, Nos. 776 to Rauscher, Pierce & Co., of Dallas, 779 and 781 td" 787 alt., and 789 $ 75,000 swimming pool bonds. and Barcus, Kindred & Co., of to 813, District No. 4331, Nos. 269 250,000 streets bonds. : Chicago, jointly, at a price of and 270.>; 75,000 barge terminal bonds. 108.743, a basis of about 1.753%. Petersburg Indep. Sch. Dist., Tex. Dated Feb. 1, 1946. Due Feb. 1, as WEST VIRGINIA Bond Legality Approved—An follows: $5,000 in 1947 and 1948, West Virginia (State of) issue of 214 % and 2%% school $8,000 in 1949 and 1950, $9,000 in Bond Offering — Clarence, A. house, series of 1945 bonds 1951 and 1952, $10,000 in 1953, $7,Meadows, Governor, will receive amounting to $75,000 was ap¬ 000 in 1954, $8,000 in 1955, $9,000 sealed bids until 1 p.m. (EST) on proved as to legality by W. P. in 1956, $10,000 in 1957 and 1958, Feb. 20 for the purchase of road Dumas, of Dallas. These bonds $11,000 in 1959, $12,000 in I960, bonds amountihg to $1,000,000, not are dated Nov; 15, 1945K/;;v. $13,000 in 1961, $14,000 in 1962, exceeding 4% interest. Dated May $15,000 in 1963, $21,000 in 1964, Port Arthur, Tex. 1, 1945. Coupon bonds in $1,000 $17,000 in 1965, $18,000 in 1966 denominations Bonds Voted—An issue of Seaconvertible into and 1967, $19,000 in 1968, $30,w a 11 and Breakwater bonds fully registered bonds of $1,000 000 in 1969, $31,000 in 1970, $32,and $5,000 denominations. amounting to $2,200,000 was fav¬ Due 000 in 1971, $33,000 in 1972, and orably voted at the election held $40,000 May 1, 1946 to 1970. Rate $34,000 in 1973 and 1974. Callable on Jan. 26. The. sale .of these of interest to be in a multiple of Feb. 1, 1961. Principal and inter¬ bonds was scheduled for Feb. 5, Va of .1% Parts of the issue may est payable at the Waggoner Na¬ bear different rates. Not more but postponed. -;i 1 ' ' • . * 1 tional Bank, Vernon. Legality ap¬ than three rates will be consider¬ proved by McCall, Parkhurst & Schleicher County (P.O. ed in any one bid. The bonds Crowe, of Dallas. " ; (V Eldorado), Tex. will be sold to the bidder offering bonds amounting to $400,000, were school house bonds offered for sale on Febf 5—v. 163, p.; 368—were awarded to the Dallas Union Trust Co., of Dallas, at a price of 100,102, a met interest cost of 1.1086%, as follows: for $80,000 maturing $10,000 Feb. 15, 1947 to 1954, as 114s, and $20,000 matur¬ ing $10,000 Feb. 15, 1955 and 1956, as Is. Interest F-A. Dated Feb. 15, 1946. Denomination $1,000. The next highest bidder was the Co¬ lumbian Securities Corp., of Texas, for $100,000 114s, at a price of 100.175, a net interest cost of Bond Sale—The $100,000 the election, be . Vernon, t on yV'V,'' time the following Feb. 2. At the same Tex. Gladewater), held election the at enacted, bidder may, at his lieved of his obligations under the contract to purchase the bonds and District No. 5491, 42nd Avenue, West, et al, bonds-Nos. 54 to 57. ip such case the deposit accom¬ .'District - No. 5494, West 77th panying his bid will be returned. Street bonds, No. 1. The purchaser or purchasers will ; " voted hereafter No. 5443,' 51st Avenue, N. E., et al, bonds Nos. 141 to 149. highest bidder was Paine, Webber, Jackson & Curtis, for l%s, at a price of 100.671. ~ 'v;"v • • favorably was V Moines, and Associates, as l%s, at a price of 100.672, a basis of about Monday, February 18, 1946 Jan. 1, 1947 to 1958. Shawinigan Falls, Que. Purchased—An Bonds issue of improvement bonds amounting to $204,500 was purchased on Jan. 16 by the A. E. Ames & Co., and the Dominion Securities Corp., both of Toronto, jointly, at a price of 100.66. These bonds are due be obtained at the office of the Executive CANADIAN PACIFIC Authority, No. Ill Eighth Avenue, New York 11, N. Y. Nov. 1,1946 to on 1973. \ RAILWAY COMPANY FEBRUARY 15, 194J Dividend HOWARD S. CULLMAN, CHAIRMAN ^ f; i Catholic School Commission, Que. Notice meeting of the Board of Directors held dividend of three per cent, (seveiVvfive cents per share) on the Ordinary Capital Stock in respect of, and out of earnings for, the year 1945, was declared payable in Canadian funds on March 30, 1946, to Shareholders of record at 3 p.m. on February 25, 1946. By order of the Board. FREDERICK BRAMLEY, Secretary., Montreal, February 11, 1946. At today Three Rivers, a Bonds a 3% Purchased—An school bonds issue of amounting to $340,000 was purchased on Jan. 14 by A. E. Ames & Co., of To¬ ronto, at a price of 99.42, a basis of about due oh* 3.05%. These bonds are $ov.' 1, 1946 to 1965.: