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MONDAY JAN 13 194? i Reg. U. S. Pat. Office Volume 165 Number 4559 New RAILROAD York, N. Y., Monday, January 13, 1947 PUBLIC UTILITY - - INDUSTRIAL Price 75 Cents INSURANCE ■ a Copy MISCELLANEOUS - ACF-Brill Motors Co.T-'.: 9 Months Ended Ket Sept. 30— / ' ypi 1946 1945 ;/ $16,108,925 $16,742,728 sales™_™-™„__„™„__:-™,.- Alleghany Corp.—Buys 162,500 Shares v: ■ , of Central— the shares-presented by the various stockholders will exchange on a pro rata basis, adjusting the number exchanged for each stockholder to the The corporation, of which Robert H. Young is Chairman, announced 7, that it had reported to the Interstate Commerce Commission 1,593,374 *378,974the purchase of > >162,500 shares of the capital stock of the >> y:;: Central. —V. 164, pp, 2149. 2681. No effect has been ' given in 1946 period to possible refunds of Federal taxes on income lor prior years under carry-back provisions of the tax laws. Due to the Allied Net -"loss——— ,■ •Profit. i'i-. •. ;V,... Jan. after * ^ Bank of New York has been appointed transfer City for the common stock.—V. Adams Oil mentioned in Co., Los Angeles—Stocks issue of Jan 6 Pacific our - Alton Offered—As ( i^'-The Company of '<}&j y; offered in Units of d : share of each at $10 Because ' •y announced * ,! Casmalia celling cities * And Field the in in oil the for San Santa use counties as •; oil * « * . - , , - ^. •. : • .. so acquired CAPITALIZATION, } 'j!: :y rV - Authorized . ■1 :-h'v' '■ -v '}'£% Cum. pfd. stock, (par $10). Common , ► !<f » stock f .•*' approximate cost at ■" ; ■.* corporate purposes.—V. 165, 1 * York, up , ; i a ; -241 __ -242 — —242 —243 -246 also In coats and increased supply, similar —228 as well as ; t . Offer— 7 ; Manager'— > SPECIALIST IN - ' ■■■ *;■ FLORIDA & NEW JERSEY ■Vv Municipal Bonds if- are v MUNICIPAL DEPARTMENT ' ' . of . qAllen , & accepted, t ' . a SO BROAD STREET Telephone: HAnover " 2-2600 " y •. , 'm NEW YORK 4, N. Y. Teletype: NY INCORPORATED . > ' . • Bell , . Memberg New ' 1-573 J 45 Philadelphia Telephone , Enterprise 6015 new •-rf . ' " "■ Bell Teletype' " New York 1-576 plate ,i. 21— I - 66. p. •' 1 . i ' pay-r * other dividends any 165, p. 66. ' 1 , , , orders at the compared with a close substantial of the $16,000,000 at amount fiscal year the close ■ of war amounted of the pre- ."Lv, \ td railroads and .',<>• • W'' was locomotives.).' year was $2,692,768, which is equal to 6.7% sales.» Dividends amounting to $2,374,990 were declared and representing $2 per share of commop stock. The net working as of Sept. 30, 1946, is over the that purpose) $25,907,111, which fs previous yeaf. have been Certain costs .and its termination ^ increase an of d rectly expenses (largely offset by provided during the included in cost of goods sold K.;. VVV -The company operates In war for i:-.4v V-V r■■ capital goods industry and its business has cycles of activity and recessions which do with fiscal years except by chance. years the -.iv a as a for year ■ .7 result not coincide * kinds incurred for the 12 months ended Sept. 30, 1946, of (which Federal taxes 'on income were Social Security taxes for ,$14271,428. unemployment insurance and old -age benefits were $412,571 and taxes on real estate and personal property, State corporation franchise taxes and other taxes wer $521,714. Contributions for charitable and educational purposes amounted to of which were $42,818, all deductible for income; tax purposes. Claims for refunds of taxes and renegotiation rebates for the years 1940 to 1944, inclusive, have been filed in the amount of $1,334,066. Claim for refund with rc-spect to unused excess profits $2,205,712, " Trading Markets in v Over the Counter Securities - Securtty Dealers Association NASSAU STREET, NEW YORK 5 Telephone REctor 8-3600 York 1932. included as 1946. a," . , since stock.—V. Unfilled ; - GEARHART & COMPANY ; completion, of Co.—Hearing Jan. indirectly related to the war and reversal of reserves that had been ; ' Company Established 1923 of net capital $21,790 ■ ,>> a result 2149. ' a The net income for the v , as p. "v.r? * * . 164, .4 issue common $20,000,000 CORPORATE FINANCE SECONDARY MARKETS ' quarters ceding fiscal year; ; i A major portion of the sales for the year 1946 builders of freight cars, passenger cars and were :<i • exchange ; Taxes of all . > , - the paid, r Exchange has fourth The ^ ? J . Industries, was temporary injunction filed with the New Jersey Chancery Court against .Ihe .company restraining the .payment of Jan. was lifted but 2, 1947 dividend: is'continued as against payment of to v ; been advised that subject to terms :„.*T expect there will be President, explained. and- conditions specified in an a notice dated even greater Jan. 2; 1947, this availability of these items has offered the holders , In the next three company of its 6% months," he said.—V. 164, preferred stock, par value p. 2825. $100, the privilege of exchanging each share of '<1 • said stock for 11/10 shares of its $3.75 preferred stock, par value $100, together t Allen with a dividend Inc.—New General adjustment in cash of 43c ■ per share of 6% preferred stock. ; The ex¬ Jerry J. Tobias, • Vice President, change offer will expire at 3 and a p. m. (EST) Jan. 20, 1947. ■ director, has been made : / /'The • : •General Managed of the company will not, accept1 for company, Sidney J, Allen, x «ounced exchange more than 600,000 shares on Jan. 6.—V. President, " an-. » of the 910,756 shares of 6% preferred stock 164, p. 3137. " outstanding. If less than all shares of 6% preferred stock presented for ! .'■'•'■*? it pointed out, still types of tin mill products per- dividend of 50 cents per share declared on the common stock Sept. 24," last, year, was mailed at the close of business on ,mn. z, to stockholders of record Dec. 2, 1946^ This was the first ment on or America—Exchange and the Uses.; r.:vV"/;.y, •fmateriel. *. .247 • Aluminum Co. of Administration,, sizes • The annual report of the board of directors says in parti. consolidated net sales in V."-V the year ended Sept. 30," 1946, were $40,041,182, all for regular products. This was 46% less than the preceding year's sales, which * .250 The New York Curb relation. for all containers The ; , : metal V-' American Steel Foundries—Annual Report— '• General Corporation and Investment News., .201? State and City Bond Offerings and Sales™.. 239V; Redemption Calls & Sinking Fund Notices. .249^ Dividends Declared and Payable.™ ;... .250 ? The Course of Bank — ' can of .• Production specific this - men's wear, users on v -228 , '..r V* fashions, Robert W. Jackson, metal 1947 ; —228 supply Women's-dresses, «re of The t, • "n delivery American Ice Co.—Pays 50-Cent Common Dividend— *, « —245 now - f Exchange..--™:._^ Exchange_ Clearings during the war years, are available again in this company's 1947 spring-summer 630-page being mailed to nearly 2,000,000 persons. * :' Vacuum cleaners, electric toasters, gas, coal and kerosene ranges, table stoves, waffle irons, electric fans, varied home furnishings, * linoleum, rugs, irons and electric roasters are a few of bard goods items the-many reappearing in the semi-annual book. tn expanded : catalog, , «. * > Foreign Exchange Rates .249 ? Combined Condition Statement of Federal Reserve Banks .250 Condition Statement of Member Banks of ; ; Federal Reserve System * .250 .c Auction Sales---.. ;.- for customers. American Hospital Supply Co.—Notes and Debentures Placed Privately—Haris, Hall & Co. (Inc.) Jan. 8 an¬ nounced that it had placed privately $750,000 2% % and 3%% serial notes, due Dec. 1, 1947, to Dec. 1, 1961, and $300,000 5% subordinated debentures, due Dec. 1, 1966. on Aldens, Inc.—Hard Goods Lines Again Available— y' goods lines, missing : call Commission.—V. 165, ^ ] would present hearing Jan. 21 on the application of for a company 1-year extension of the time within which, it must-dispose of Atlantic City Electric Co., peep Water Operating Co. and South Penns Grove Realty Co., as ordered by the Miscellaneous Features .' Hard ■ v *• -", that than . . • —240 Exchange Transactions New York Curb Exchange. it;' company's office Room 2018,-70 Pine St., to 3 p.m. EST Jan. 23 for the sale of $1,907,000 equipment trust certificates series J. Dated Feb. 15, "1947, certificates will nature in 10 equal annual installments 1948-1957. Dividend rate to he specified in the bids.—V. 165, p. 65. New other requirements of -,{7" The SEC ordered ' .^241 . Stock and Bond Averages ,.y 65. p. y':- American Gas & Electric —240 . f ' Stock yx -239 . for third and -240 Stock Exchange Toronto Stock Exchange—Curb Section. Over-the-Counter Market ; Transactions New York Stock any. ,fit- Alabama Great Southern RR.—Seeks Equip. Bids— Bids will be received at of business producing" facilities;—V. -239 Toronto y&u $150,000; (2) install an asphalt plant for the; ' xefining and blending of crude oil at an approximate cost of $50,000; <3) ^approximately $35,000 to be added to the working capital of the company to be used for general ; throughout 1947, allocating shipFiggis, President, - - —239 —111- ___ _ v Edna,at Exchange«-.w-«----iJ-w Montreal Curb Exchange - of .228 ..238 Cleveland Stock Exchange.-, Detroit Stock Exchange____. Los Angeles Stock Montreal " • 1,500,000 shs. - - 760,000 shs. •Before giving effect to present financing. ; PURPOSE—The company presently contemplates that the net ceeds (estimated pro$235,000) will be used for the following purposes: j <1) complete drilling of 15 wells on the proven area for W. D. ' V'.V;. Despite unprecedented demands for metal containers, Mr. Figgis said, the company's production capacity is«adequate to take care of fall estimated requirements, andr its allocation formula will be flexible enough to reflect any additional plate that may become available^ in the -..238- San Francisco Stock 1 4fo'&^Issuecl metal formula, ; ™2$8 Exchange^.. Philadelphia Stock Exchange.. Pittsburgh Stock Exchange.. St. Louis Stock Exchange. 30,000 shs. (par Cincinnati Stock : aggregate Civilian mltted 233 Exchange Chicago Stock Exchange i issued company much as new '"r t* Boston Stock I. Anderson :i stock ($1 par).;.. . ^ the meet a customers, 6.V retains control over , " -317 Exchangexi^Li^wil--- Baltimore ^ Stock Exchangeii. predecessors at prices ranging from $1.40 to $1,65 per barrel, averaging approximately $1.43 f.o.b. the company's rack. loading : These/prices' were established before the general increase in ■? the price of crude oil effective in August, 1946. " >1 1 -••• rThe principar assets *'.'; so acquired by the company from its as of predecessors ' ' July 31, 1946, consist of the drilling and operating rights under ; a drilling and operating agreement dated Aug. 29, 1945, from Doliie Adams. For the assets Vf>-v ^». the The Page ; New York Stock Exchange (Stocks) New York Stock Exchange, (Bonds)v-. New York Curb * Petroleum Corp. and WrO. and J. aggregate of 760,000 shares of the company's common to all sheet of announce to kinds of"products.". t Stock and Bond Quotations ■>•■ to Southern. California shortage . to .- an a " r " and be responsibility of making the fairest possible distribution of an-ttcipated receipts of plate has been placed upon the can manufacturer ;by the removal, <on Dec. 27, of government restrictions as to' ' products and quantities o: of products "that could be packed in. metal he explained.,...v .' containers,, \ " • • .". 'W '.i"" " "While we are confident that alt affected industries will welcome this further" step toward a free economy/' he said, "we still have » to face the.. fact that' there remains a definite shortage of sheet i metal and that this shortage will continue* through .1947 in - . users of road oil within these counties. ;v The oil produced from the properties, together with some * 4t>ll additional purchased for the purpose, is stored in Teservoirs and other storage facilities on the properties, treated and blended to make it suitable for use as asphaltic road oil and sold to * nearby users. The road oil is; V delivered to, the purchasers in owned or leased equipment or in some ;; cases at the company's loading rack. During the 1946 road construction season, this road oil was sold by <■ !.'l the company and its business . Jan, any 1M«« principally to road districts and Obispo, San Benito and Monterey ktOther ": y r . Luis Luis {.■ - Obispo County, Califand the Barbara, County, Calif;, and treating and road San of \:'i ' present customers' requirements ft« possible, it will be further necessary, Mr. Figgis said, for the to decline company ; . In on £ci;:' ln order . : • will containers this year to 1 v ■ there company win shortly ments of metal containers tyo Of - to , for -Must Allocate Shipments for Lack this ^ S. Wi. :• stock is convertible into 10 shares of common stock; • dividends at the rate of 6% per annum; payable annually"' Nor.«1,. cumulative from. date of issuance;, redeemable at any time ;«n 30 days' notice at $11 per share and accrued'dividends; entitled to 1 alnktog fund"and voting rights.-*i / -r-Transfer agent,, Adams Oil Co., Room 22Q, 215 W. 7th SC Los;£ Angeles, Calif. Registrar, Bank of America National Trust <& Savings Association, Los Angeles, Calif. v * HISTORY AND BUSINESS—Company was incorporated in California JFuly 9, 1946, for the purpose of acquiring the business being as a joint venture conducted by Southern California Petroleum Corp. and W. O. Anderson and J. I, Anderson, under the firm name of Adams Oil Co. The business consists of producing oil from existing wells, in the. Arroyo Grande Field entitled of Plate— V .■ „ Circuit Court of Appeals at Chicago has taken under the petition of the protective committee for the 3% refunding bonds of the Chicago & Alton RR., following a hearing on the appeal. The committee appealed from an order of the TJ. S. Dis trict-Court vesting the powers of the reorganization managers in the per-unit..... The preferred t 65. p. .a.-. RR.—Appeal Under Advisement— batlJjrHptcy:^^e^^antfYemoylng < 65,r.-,':;'-oY*.' American Can Co. - £*: advisement." California, Los Angeles, offered in late December (as a '.speculation) 30,000 shares of 6% cumulative convertible -preferred stock ($10 par) and ire* ^mmob 30,000 shares stock ($1 par). The; ? ^ securities were •one U. accepted , 165, ^ [ date,—V. 165, p. L1 The National City agent in New York the expiration of the exchange offer on Jan. 20, 1947, all un¬ exchanged shares of 6% preferred stock will be called for on March redemption 24, 1947, at $110 per share, plus accrued dividend to said ■ Mills, Inc.—Transfer Agent— uncertainty of interpretation of certain 'tax regulations, it is impossible at this time to determine whether the company will receive : such refunds which, based on the results to Bept. 30, 1946, it is estimated would amount to approximately $185,000. V. 164, p. 2953.,,;:' be of shares to be nearest whole number. Promptly . -r- . /: Troster, Currie .* v ■■■• \( & Summers Member? New York'Security Dealers Association 74 Trinity Place, New York 6, N. Y, Telephone HAnover 2-2400 , Teletype NY 1-376-377 Priuate Wires to Buffalo Cleveland Detroit Pittsburgh St. Louis "I ■ if. Monday,"! January 13, COMMERCIAL & THE Total -, quanfcitfes at , year end- are, just slightly >y:v at the close of the previous, fiscal year; DIVIDENDS—In Jan., • 1946,1 a "dividend of $3.50 share applying on the dividend arrears on the $6 prior preferred stock was paid. In addition,» during the year, the regular quarterly' • ■ v dividends amounting to - $6 per /share we're ; paid, ; The total'of these 202 first-out'), (LIFO).i, Armstrong • Co.—Annual Report— l / l; 1946 1945 1944 \ ( 1943 . , $17,092,043 $10,683,258 $6,805,669 $6,558,732 : 14,538,357 8,998,858 5,624,613 J/. 5,575,114 Years Net — Other ;429,245 /'■•' ■''■/— _——— for •of 1' 240 /. • v , Federal which Pfd. v.389,433 - »/ continued high .levels of •consumer purchasing ;power. unmindful, however, that the index of food prices level than the corresponding index for modifies and, as previously mentioned, a reserve has been' accordingly for possible declines in commodity prices somewhat* higher 42,5o2 on $505,629; $489,747-; table to reflect •; fiscal year ended. Sept. 30, 1946, as the amounts involved are not significant/ •■/ v/. »'/ In August?. 1946, the company purchased 25% of the outstanding, shares of Lake Shore Tire & Rubber Co., Des Moines, Iowa, and now ,'',7 :,/•/,.■ , the principal subsidiary of the company, chipped 802,840 Chilled iron- wheels for renewals and for new equip¬ ment during the fiscal year ended Sept.'30, 1946, as compared with 1,006,265 shipped during the previous year. This reduction in volume followed very closely the reduction in railroad freight traffic hauled. There are 2,035,000 railroad freight cars (Class I railroads and private owned since 1902. • Griffin Wheel Co,,, charges ? or ;A) from and summer months will corresponding period of last crop of pigs farrowed during decrease in pork, will be an increase spring the %, 148,500 shares of owns company The Miss. Castings Corp., which is issued and outstanding. This 6teel , . CONSOLIDATED INCOME ACCOUNT, -YEARS ENDED .. xpenses^i— of emerg. Amoit. facil. , 312,397 Aliscellaneous income—.. Discount on sales Loss on :i taxes- for Fed. Reserve «i4^o Bio w 10-sap; mo t9 978 000 tl4 Net //— • Refund due from chase price of contract ■■■ • ; -" 1,319,991 stock of affiliate : receivable termination claims . $2,675,383 2,374,990 . .. . . Investments — and equipment- • $2,752,543 M Agency accounts (per contra) — Total .. ;■...\ 30, -*1946 .proclamation/' •/,:•' •; ;/• CONSOLIDATED BALANCE SHEET, SEPT, v Federal taxes on "^Accrued /.{TAccrued. Pederal taxes 7»n :/ WrXeefn*°rt!fngH hJS 1946 have and raw CONSOLIDATED INCOMEIllinois SURPLUS dSTATEMENT (Armour &3,Oct. 27/45 subsi iaries) Oct.30,-«Co. of AND and 53Nov. Fnrl . Wks ■ 5? WrHfff 1,404,053 $ $ 212,536 Sales l,183,537,56i 1,212,961,355 1,477,$970,945/i,416,5$58,800 .; ?6?6,815/ ? Cost sales, etc. 1,049,651,026 1,119,187,234 1,356,179,586 1,307,463,218 1945 53,547,308 47,278,934 10,639,326 9,286,358 -6,873,964 8,025,6062.700,000 1,500,000 60,125,917 27,683,223 -— 55^900 16,064 ? decline - income:-^..-^,^ • / ^ 99,671^ •V;3 —; -(Del.)' ,$6 ■ f il'otl ■J;98-204 202.540 . Net income v- . 91 28ft 173792 91,288 ^,5p0,000 104,404 5,401,007 23,455.932 94,890 ' >v;;. — 157.284 17.565' • 157,284> 11,250,^|Sl4,570,8381 _ ' 1/— ^ f 110,504 44,147,851 9,^2,538 '-"' 20,791,128 7n; « ? 99,671 ? 17.565 17170CK prior 52,387 120,737 43,187,811 ;%/ 960.040 .. J pen erpst. 6.784,495 ' 49,361,764 1,049,680 v/'FS Jt Cl Prem. pa.id upcn - 9,796.088 1,200,960 61,253,147 1 wh. 48.127,188 a; 1,500,000 /Other income—3,127,230 /?/28,965,035 50,411,444 1,281,812 . Total income^ . 3,782,025 4,601,870 6,111,368 Int. and amortiz. . Fed. income and —' 04.^,.100 , exc. prof, taxes t24,07?,958 8,796,972 31,721,204 8,062 Loss sale real est. ■ 819,756 80,273 8,054 1,295,374 1,439,380 59,511 ■ / • 52,686,017 11,116,485 I ? 7,127,093 1,528,282 $10,361,824 $8,220,820 Minority'dinterest . ^de'd ebt . * " TV* ^4"— ' income_n'?——T -- ' - - -• - $3,125,339 - '' •4 (market/."^IBalaries and wages accrued^^j^^^--/--^--?^?.; of/?Employees- pension plan contribs. accrued-^-- / Insur,, rentals, comipis. and royalties accrued-,- ^ General Steel I ^cC^u®' $6,500,000), Reserves for tire guarantee adjustments™. securities (less reserve ? Reserve for purchase of 4 4 ,0 conv. pfd. equipment • Reserve foy agency accounts (per contra;)y ^12 for, unclaimed■'divi(iencis^^Wi^.w^v^-f».^^^/;^;>-lyj/ ^ |UOiwwuimawv**piwvu«.« deferred' ' ' oner'ations convertible preferred stock ($50 par)— > , 2,450,050 before Sept.Of refinancing par for Federal ' ' " - ' /|;|ciass,B common stock (no par306,935 ', '306,935 /?/:?§ Charge1943, on 7% preferred resulting reduction inpar- basis.excess t §Class A common stock (no par). 2,437,685 2,198,935 ^.-_the latter date for portiontoofthe stock on aand retroactive wage in-J equivalent Capital surplus —————•»— 571,198 570,247 June 13, which payable, $1,443,890; payrolls accrued, $907,' - K surplus i 279,369 1,490,235 profits taxes /:| Earned surplus ———2,279,369_ . $. 1, taxes on income and for renegotiation 'of securities? cost ASSETS—Cash, $6,244,687; U. S. Govt, at $9,655,898),' $9,647,249;,'accounts receivable (less reserve $7,735), $5,555,442; inventories (at cost or lower), $7,365,878; investment in common stock of. Castings Corp, (cost of 148,500 shares, less reserve of $901,375; other investments and miscellaneous of $15,515), $269,122; land, buildings, machinery, tools and <after depreciation and amortization reserved rtf 652,852; patents and goodwill $1charees to $286,201; total $43 122 807 ' / """ " 56,677 /: Divs. on V preferred - - , 5,862.956 /• - 3,197,976'> r 2,398,482 799,494 market, whichever is ' LIABILITIES—Accounts 424; adequate With ' / v?/• h j- 2,374,990 . value ?:2,272,730, 1,489,592 1,933,794 393,654 $317,778./$3,865,044 $300,393 $377,553 ——————— Shares common /Stock.1,187^95 /1,187/195 .1,187,495 1,187,495 ' LIABILITIES— Earnings per share-//.-;/,' $2.27';// $5.25 $2.25 ♦Appertaining to outstanding minority stockholdings. ,? t After esti- ? t Due ton acquisition of miated postwar credit of • $885,115 in 1944 and $1,490,808 in 1943. ;%?i tion Finance Corp. J After renegotiation of government contracts.- UClaims for .refund of Current account of affilliates_ f'ederal tax^ «Pd renegotiation, for Prior .years arising from accel; bue Sears, Roebuck & Co.— Employees' withholding •erated amortization of emergency facilities pursuant; to Presidential $ Dividends payableSurplus ' T xtPrbperty, plant Deferred charges '■ ■ - '"//; ; A" -•' $6,240,034 2,374,990 $2,692,768 2,374,990 dividends ' Crl,334,066/, ' ••/ ; profit—.. .Common , 1- J, refund and sheep Mahagieittent and service'-fee® /Inventories renegotiation—/ 1943 IClaims for ample an 347.952 Selexpenses,&etc.__ l., adv. gen. 46,116 receivables 5,688 . 31,770 ^Ordinary taxes. ^Reimbursable;adv^nces^^ for government facilities 3,793 ' Depreciatitonempl. /Cnrreht accounts of affiliates_„___—28,470 8,080 contrib. o ___ fecjfeivable __ 4,25o Due employees 17,397 11^69 . pension plan Sears, RoebUck & Co. on purBalance C^RofxAl' b9i,o44 394,210 Additional provision for „v 2bn 231,671 199,369 12,463 &c. 850 encouraged other ^ ':?n2'rt8ic2 6 970 700 271 428 33,162., —- sales of sec., deductionsi;::i Misc. outstanding. • 317,190 393,868 304,931 ,4ii Sq° $12'09o3'„ol8 of sub. cos. earns, „ <64 $ 4!i <7in 419 AQ3 B9« profit———j—; Total ♦Net 1943 I—-..,- *4107 313 profit from opel'._ Net common stock SEPT. 30 BALANCE SHEET SEPT. 30 ASSFT®! ' 1946 34,838,158^, 60,464,867^/;64,263,748-,74,673,144 n s/Government-obligations----^-----------1,263,644 '}2S..{-•••U. S. Treasury notes,-tax series C ' —— • 164,317 1,383,872 2,570,502 fAccounts receivable—tradel.l,: ,1,486,889 i tn-ifiR «(;i7Q9rt o44 «170rr339 ' 509,062 $/-Accounts .receivable--Sears Roebuck As Co. (net) Accounts/receivable—tr, s. Government— 1.944 1945 1946 less. <dis- sales, ^CtTOSS the past fall. Offsetting in beef coming to market sold ' its interest in 236 Hotel ,v com ,rflbelt feedlots. feeders hugeevnnnrt ciotpsio pipo«riin«r enernhnns finro, Qrprl catt.P The to feed of .t f duced/in ft*61™5 of' the total meat supply' prospect, with consumer demand materials in lamb and mutton volume iS) not 500^^?h?res A^ for our product likely -to be, sharply, higher than *in prewar, yfears, ' and Wlth continuity of operations indicated by recent collective bar- , , .-• . 1946. 20, •. this ., from? cattle feeders to expand cattle feeding operations and supply of gpod beef seems assured. Some reduction in?,./ lamb marketings is expected during the year ahead but the in equipped with chilled iron wheels. , ock of General /v^The company also owns 50% of tne outstanding shares of Armstrong the common stock of General equivalent toappears on the amount /, Tire & Rubber Co., Natchez, 32.52% of the balance ,, investment investment appears on the balance vCorp. and the fiscal year of itscompany in Worcester " Service. Station. During also disposed the interest The company and Lake Shore Tire & Rubber Co.-; each retain their £heet less reserve at $901,375, which amount has remained .unchanged .since Dec. 31, 1939..,/ The carrying value of this investment in the Interest in Copolymer Corp; Each of the companies continues to 3ervices receive accounts of American 'Steel Foundries is $6.07 per share as com¬ pared with a book value of $15.14 per share shown by General Steel Castings Corp.'s published statement as of Dec. 31, 1945. -Dividends -InSS?^1946^ frnaddmbnal^12 of-cms$^^ stock in arrears on that corporation's preferred stock amounted to $6,150,000 wp" / sue d u do n e x e r cise of war ran t s s ra n t e cl to the underwiitert in • as of Sept. 30, 1946. It reported net income of $1,531,212 for the calendar year 1945 and $1,864,388 for the nine months ended Sept. i 313,182 shares of olass A common stock and 53,380 shares of class B which 1,600,000 are lines), of •car /V/ /'/'/.-•• ?fi;7 not)1 expected to differ greatly /* Pork production during the doubtless be somewhat less than in year,reflecting a decrease of 11% /? ahead. '• Totaj meat. production in 1947 is the volume produced In 1946. yerr changes have been made in the above credits for prior years made during the NOTE—No ./The / We is at & other com-f? provided '/ during the not are r ; $256,787 ' from and $489,747 During Leen directory:at their ,?/ quarterly dividend of - • $505,629 $299,339 — than a~> 596 202 income The . $5,063,462.■- In addition the 1946' declared the regular aggregating'$799,494, payable Jan.- 1, 1947.f . ■£?? employees'has resulted •/ should assure oontracts closely larger.'companies in the OUTLOOK FOR 1947—Operations .in- the ye&r-ahead'should benefit -from an adequate supply of livestock,- poultry. and dairy products ,1 $669,061*//- $905,682 433,523 . • 1 payments aggregated 'xmeeting on Nov. 1, iL; $536,446 / $1-50 per share, 380,210 /■"■ LABOR—Collective bargaining with our plant Jn contracts extending to August,,1948—contracts which $1,339,205/ $1,098,306 ? $916,656 / continuity of operations over that , period. / Our ,840il2,177H'Vr{,: 8o,56'f.v parallel those which are general- among the industry. f ,//: ' * .- years Lave 447 172 ./■> 7 PREFERRED • $983,618 $1,131,056 •511,995 / $1,684,400 778,718 .7? 77777/ perT*?! ;?/ higher than Rubber End. Sept. 30— amount of approxi¬ the year. sales reduc- Manufacturing costs—— and for re¬ > i Gross oper. profit—$2,553,686 During the fiscal year 1946 our Federal tax returns for the fiscal ; Gen., adm. & selling exp. 759,523 1942, 1943, 1944 and 1945, were audited by the Internal Revenue $1,794,163 Net oper. profit— Agent. The audit reports on life companyV two active subsidiaries; 267,031 been received, but the report on the parent company has been Other income ——u/i-. delayed awaiting approval from Washington of the closing agreement •, the year -1945 under the Renegotiation Act. This agreement, which ■ Total profit —t $2,061,1»4 lis expected to be approved in the near future, provides for a refund deductions —iii— l8u,939 $715,708 to the government as compared with $500,000 provided in Accelerated amortiz. of " [the accounts for the fiscal year 1945. The difference of $215,708, less / emergency facilities.:ithe effect of offsetting Federal taxes, amounts to a net figure of $31,278 ? taxee—■ 787,140 ! has been charged to reserve for Federal taxes in the accounts, reserve for Federal taxes for prior years may prove to be more Net profit $1,085,115 ample to cover any deficiency. " ■ '/r /:/div. requirement—C/; 117,645 the year just ended a loss in the amount of $264,005 was .. incurred the sale of unimproved land in St. Louis, Mo., that had Bal, avail, for Com./L / $967,270 just ended will be filed in the mately $100,000 at the time of filing th^ tax return for iBoth of the above referred to amounts have been handled as a fcion of the gross liability, for Federal taxes on income negotiation on the balance sheet as at Sept, 30, 1946. > ;v credit for the year 1947 FINANCIAL CHRONICLE reserve for Federal >2,500,000 V 'r ilch is crease- i tax notes, at cost plus accrued InTotal for other taxes, $554,831; operating(/I? reserves (for; repairs,.-furnace rebuilding, workmen's.^compensation,,. product guarantees, etc.), $1,436,483; minority stockholders* equity in ^ ! ■. subsidiary consolidated (capital -stock $55,050: Capital'surplus $17,326, I f earned surplus $40^58),^ $112,634; . common >,stock/uf no; par (outstanding 1,187,495sshares), $23,749,900; capital surplus, $4,310;194; 11. government contracts (less U. S. terest, $2,050,220), none; reserve — ———— ,xes. / X--—$10,361,824 . $8,220,820 • that / n I ,Tz---^•, 22, 1943. and $277,v1e48incomerest accrued fexchanged l as1 to 7% cumulati inte debentures rom Apri Of . • f ,— - . CONDENSED BALANCE of SHEET (ILLINOIS COMPANY) Illinois and subsidiaries) ' 46 >> Oct. 27, '45 il; ♦After., applying tl/S. treasury notes totaling $707,768;dn/1946 and , , . $20?-536 in 1945 as reduction of Federal income taxes (per contra).- t value^ISwrve•10,7J.X- in^l946 J961,262 . . - assets—•'(Armour ■& Co. of Nov. 28,938,429 JAftertverves-for^depreciation of $1,120 397 m 19461 and , 1,683,588 €a?rneiClurpl"s (pe?: annexed statement), $10,607,451; total, $43,122,807. ' *n 194onnd/reserves for amortization of $851,857 in 1946 tLand. ^bldgs.,cars, delivery equipt., tools, tnach, > ;66>//;?/ V /^Represented by 313,192 shares in 1946,' Snd 299,380 shares in 1^45. ^frigerator Americ^n^ Telephone & Telegraph Co.-vFurther deHRepresented -by 53,380 Shares in both years.—V. 164, P. 950. v ------"pbTit^Talt'Tefuh^ — tdlls Debenture Issue--[ '• a War .Savin prospectus dated Nov. 6^ 1946, has been supplemented as foliowsiAriHOUU- & Co«„ (I1I») AnHUSl R6pOrt GC0r^6 A>' Fort : ill), bS..and purchasegs receivable——,—v pl yeesr account^ bonds on.-!-hand emlol 15-year-2%% coiivertible ^ebehtures,-due>-Dec. ! WOOd, President States in part: • ' Notes I5;t;(conv?rtible AprU 15,^authorized and Dec. -14,^^1958r Unless , 11 103 537 56I: Net earnings Total-sales'tor-the Vear equivalent' to I Intercompany 1947 through v offered to stockhold.previous redemption) amounted to $30 291 128 amounted to Inventories — ^So«Lrecord 0n Nov' 8- 1946 was $343,087,700,proposes toapproximately ! 1 ifld of nroduct sold.S dS of salesour operations a proved per .' Due fronl subsidiaries not of which sell the un- uound i/10 cents on The diversity of and 5/9 of cfent its Investments, unsubscribed.- The company 2^947eonPthe°New Yorkd^J^eVf°m tiphUtH fi^ afte^.Ja^- /! w°rth^ total year.Juet'closed.lTtomestic/meattotal net ns/representing .;Deferred charges — in.the aales-contributed onlv/32% of operatio .earnings. The Total -*— Boat^ Chicago, Philadelphia or Wash* | 53,299,600 LIABILITIES— ' I mgton Stock Exchange through brokers who are regular membqrs ?;balance of the bperatlons representing 39% of. total sales and cover. . 364,364,607 332,362,530 r?ceive for tlieir'services only the re8ular ;0jing shortening and oil, pharmaceutical, dairy and poultry? (soap, $$6 prior stock, Illinois company,— 53,299,600 3,371,500 commission. ..;•. • / ./ v/ giUe,? hair, : sandpaper, / ammonia, ;.chemical, / net earnings, >3 cents fertilizer?/;leather. ..and preferred stock, Illinois company—— 3,371,500 (20,328.588 20,328,590 operations—contributed 68% of total . , . Illinois and subsidia2,i $ « * and fixture equipment 118,9189,9885 120.,0604,206 etc.— 10. 44, 58 ,9 05^84 ' for —-—' 47,566,8443 .5.-0,^274,2524 09, 82; ^ 271, 40 accounts receivable • ----- - ?o'' c7J4w,; co'kc1 stocks, bonds consoladvances—.. .14,231,5767 /12,662,566 and idated. 69, 28 "--"qiS for 1stmtge. bonds.— 2,656*124 22,5573*131 2 656,124 7J,1J1 and $861,073 * / on The The total amount called for $12,900,000 was - WiU o v age .//• Approximately $16,400,000 principal amount of debentures was ported sold on the New York Stock Exchange during the ripp 10ARTh»' price range dunng this period on such Exchange —t*5The re- If The net- _ J conv.. *.-7% foreign —earnings dollar of sales and operations amounted; to was / on eac^ of our domestic meat - —-*■ — month of - * ;?£' i .. ' id Va of a cent per pound 1 and of product sold. . ......... Common ... stock (par $5) -i — .20,328,588 4.17,826|l4 8,085,251 19,438,517 7,974,139. Ve 4,714.080 WORKING CAPITAL—We "^closed" the-year in ,a' „ sound financial , . , and the last -wnvkirx^ pnnii.ai an increase -of $9,Accrued liabilities ^ 6,356,396 unit of $100 position with $150,234,294 cf: working capital, an Increase of $9, Res, fpr general and social security taxes^,—„ 4,215,025 A, 900,ODO other Exchanges mentioned,1 561,991 over the previous year. pany effected further ^Dividend payable on 30 . period aggregated less than DEBT REFUNDING—During the year the company its 2 Vt % ing serial I;. Funded debt due within year™, Reserve for-Federal income-taxes^—------—25,643,197 / 3,287,479 $700,000 principal amount. If $12,900,000 principal amount of deben¬ savings; in annual interest charges by refunding its 2(4% tures (the approximate amount unsubscribed) Were to be sold" at theFunded,debt m 88,993,500 101,000,000 promissory notes, 3J/4% first mortgage bonds and 414% cumulative closing price on the New York Stock Exchange on Dec. -31, 1946, Reserve' for, contingencies-^.—;—---—- 4,000,000 : 4,000,000 income debentures (subordinated)' with/ similar / issues at /interest (a) the aggregate price to the public of such debentures would be Reserve for inventory price decline————- v 9,500,000 rates of 2% (for $20,000,000 of notes purchased by 18 banks); 2%% $15,367,125 (exclusive of accrued interest)/ (b) commissions paid J Reserve/for replacement of basic "last-in, first- /; - ^ ^ (for $50,000,000 bonds placed privately in July with 16 insurance 7 out" inventories ; would be 25c per unit of $100 principal amount, or a total of $32,250, ——- £ 2,953,961 77.9,588 companies), and- 3(4% ' for $25,000,000 of debentures, also sold pri¬ and (C) proceeds to the company would be $1187/a per unit of $100 Res. for N. Y., State wprkmen's comp. ins ' ; 200,000 ; : 200,000 vately in January to a group of insurance companies, * ; ^ , Minority stockholders' equity in. sub. cos.-—— •/. 649,146 568,111 principal amount, or a total of $15,334,875 (exclusive of accrued in¬ terest). On this basis the net proceeds from the sale of the entire —c 775.000 % 769,000 IMPROVED FINANCIAL STATUS—In my reports the last several ./ Deferred income issue of $343,087,700 principal amount of debentures, after deducting Surplus * '7—-—--—-----^ — 115,189,894 102,646,675 expenses now estimated at $1,950,000, would approximate $343,573,000. •- years, I "traced the improvement in the Upon the sale of the unsubscribed portion of the debentures, the pany from the end of 1940 forward and 71 Total /-I--'364,364,607 332,362,530 ■entire 3,430,877 shares of the capital stock of the company registered • improvement. Further improvement in this was — with an increase ill working capital of $9,561,991 and a reduction in tAfter depreciation reserve of $4,585,043 in 1946 and $80,749,038 in nri tU 4 Ha rlnhA«4n «.i11 I _ . '' • * . in connection with the debentures will be issuable upon conversion. funded debt of $12,006,500. This gives us an accumulated improve¬ \ 1945. tRepresented by 532,996 no par shares. —V. 165, p. 66. ment for the six years (1941-1946) of (1) an increase in working tAfter depreciation reserve of $84,585,043 in 1946 and $80,749,038 in capital of $49,544,168 and (2) a reduction in funded debt and guar¬ $503)139 in 1946 and $995,639 in 1945.—Vv 164, p, 3409.| , ; , American Water Works & Electric Co., Ine*—-Outputanteed preferred stock of $28,868,700. ■ power output/Of the electric properties of this company for the -Chairman Elected— V> The soundness of the policy followed, " from the' standpoint , of Art-Craft Briar Pipe Corp.fortifying the financial position of the company, is shown graphically & Co., New York, N. l??e^«ended the output of 79,319,000 92,776,000 the corresponding week Jan> 4> 1947 totaled kwh. for kwh., an increase of 16.97% over •in the following ratios: '/• •, • 1946 Bl G. Cantor, President of B. G. Cantor & Co., New York N Y.t 1945 —V. 165, p. 66,' Of 1946, ... . ; 149% : underwriters and distributors of capital issues, has been elected ChairFiscal Year— ,v. >■>• "•?>-1940 • 140% Working capital (1940=100)— 100% /A,;''.i'' man of the board.—V. 164, p. 2. ?r/; ■••/ !l':/' > ■ ^ —December Sales Decreased 3.7% t Capital securities (year-end ratios)• '?. 30.1% / ;•' /? Vr?/' 35.4% 2iM ^Xc 31~" 1946—Month—1945 , 1946—11 Mos.—1945 Funded-debt and gtd. pfd. stock,^ 45.8% 25.8% Associated Metals, Inc., Seattle, Wash.—Files with Pfd. stock, inch. pfd. div. arrears 25.7% —V.1647p?~3l3i*~"~"*" $750,272 $779,285 $6,746,276 $6,807,177 7 'The company on Dec. 30 filed a letter of notification with the SEC Com. stock, surplus and surplus ; .I / ; '. ,, 38.8% • .... . , reserves, less pfd. div. arrears28.5% 38.8% , ./ 45.5% for 200,000 shares Of common to be offered at 45 cents a share/ L. A. Adams, Kirkland. Wash.; R. C. Rumball. J. S. . Kennedy, and Fites'wUhSEC-6 100.0% 100.0% 100.0% E. M. Williams, all of Seattle; S. W. Grub. Yakima, Wash.; and J. R. Evans. Sequim, Wash, are< named' as underwriters. Proceeds will pe INVENTORIES—The greater, portion of our product inventory is " valued on the basis of market less selling expense or the lower,.of v used for- purchase and installation of taill equipment. cost or market. The balance is valued .on a cost basis of "last-in,; ^ W *> ;»rt ; $112V2 to $119y2 per unit of $100 principal amount of $li9Ve per r 1 Was at the price principal amount. In the case of the the total reported sales for the same eale on Dec. 31, 1946 . • - . preferred-.,-_w/.-,^? 6,006,500 1, 799,494 .. . • * . V M financial status of the com outlined the need for 1946 respect made in. that . ( •. AAtino/iriAn ' . V , , • . .., , ' SEC PetroIeum Corp" Douglas, -Ariz.-'/ il ■ , ■ , ryolume .165 r. i if- i- ■•• ■ Number 4559 "l'*; Ashland Oil & Refining Co. \ 'Years Ended Sept. 30— 194(5 of goods exps. and amortization 1,950,320 <y ». other $1,990,429 1,291,735 135,456 $2,152,571 1,078,432 ICr251,000 ' • profit t Reflects $3,398,947 jrears, in $2,570,483 •••'" 2,503,860 981,000 $1,325,139 from $980,087 Federal income $771,939 ASSETS— Cash and " V secur, " inventories Invest. & assets- 3,668,411 466,760 5,201,556 I """ ' 977,891 779,212 6,100,030 ' ' Total ^Long-term debt 5,000,000 —- ^Reserves ' J—i— □Minority interest □Preferred stock 5,604,673 141,900 «ithe Common .stock* .... . Surplus 6,545,206 'Total . 5,490,830 Vtive built by announced Electro-Motive Division of General ' Motors Dec. on ihe of engines: - * •- , , 896 share Jan. of $383,713 C of the volume that was projected The 36,426 5,230,779 □Bamingk'-per> The directors declared March 1,940,472 368,225 ; 1, 1947 V. been elected chasses in 1946 being as df -55 -tures incurred a>. 111, in the The of used to construction balance will cents reimburse and be to 3. also firm • of Stein that bank loans rof incurred the bank & L. of date common to be sold for at the $16.82 either v \ 'r ] stock,""payable total of a 17 share a of F. company on 164, a share, Loretto Dec Proceeds filed holders of on the preferred be used to / ... to Borg-Warner ■ - in stock ; the plant funds.—V. coupon, Hutzler, of new $4,149,750. - Associated . standard-guagc railroad ^ :irr.:. with . were.received 99.281; 99.27; and Chemical Bank & Trust Co., 99.16. The certificates will be issued to provide for not •of cost - — ^ November December * i - payable year Alex. more pany and its .Should not be to in position President, restrained the sides to submit) a were one at Brown than of shares p. 2954. she said class B of ; the and f diversification, of the outstanding issuance then Co. Shares of $1 November, new thefe are to basis total will be the or 36%, in the common stock the estimated Co., Steele Phenix in the •' ■ Salesj Mills, N. • ' ,i the 1946 1945 Sell., ♦Subject * p. .3139..- . to $2,848,387 combined ' / - .. /. plan for Lewis N. held 20% by officers of fabric* cotton fabrics and rayon and CM equipment of Flint Manu¬ Mills, Kings Mountain, N. C., were acquired. One of tha STATEMENT less $ discounts, returns and gen. Total deprec.__ 107,045,860 adm. expenses.-. Federal exc. for taxes . minority interest (Z>r) Net -profit Dividends oh Dividends on 305,840 '•: r 969,226 5,860,224 2,008,153 12,920,797 cumul. pfd. .stock___~ ' ; 944,494 common stock i 4,046,448 4,980,729 497,537 114,491 — ; Outstanding shares Earnings per share of common stk. 446,019 2,153,984 289,228 13,272,280 740,788 327,395 — , Cash 8 "U. on S. ' 2,201 3,934,938 313,195f 1,813,143 3,448,820 1,723,076 V/./:;,;; $3.47 861,688 $2.63 $4.28 CONSOLIDATED BALANCE hand and in banks rGovernmeiit securities Canadian Government f Accounts Notes ordered Due and from receivable assoc. * - securities SHEET Cash value surrender Notes and accounts Excess profits tax of life -insurance policies receivable—non currents refundable investments 1 Sundry ,-fLand, bldgs., mach.j fixtures Deferred charges c. and * equipment-, Total- / $5,779,472 expenses, payable tReserve for Fed. and State taxes on income,, Due to domestic and foreign assoc. Reserve for credit Minority interest preferred companies and other iri stock 3V2% 164, 2,161,093 27,489,721 1,718,781 1,076,203 $90,130,525 $55,108,648 Accounts payable (trkde) uSundry accounts payable and accrued claims . 133,526 45,478 464,776 3,176,775 13,220,123 ' ±,,> %ftLIABILITlES-^:\'-''' Subs.) *18,917,191 179,553 217,552 ' without mining . 4,530,593 307,185 146,076 32,679,199 (sundry, etc.), (not consol.)^-,,_-_^= inventories 81,295 10,351,263 1,095,784 284,646 receivable cos. Sep. 28, '46 Sep. 29, '45 $12,155,437 $7,892,738 1,716,200 5,197,984 1 (customers) accounts Merchandising . charges.—V. .•* 2,722,428 7,389,671 1,465,011 ^ - .15,958,239 1,378,017 -6,555,750 2,188,465 817,765 (net) income 12,983,054 .• 25,643,067 profits taxes Federal 18,329,578 3,703,918 1,642,612 15,652,399 23,894,486 .1,748,581 Prov. for foreign & State inc. taxes Net profit of subs. cos. applic. to com¬ " and capital 1,764,248 ASSETS- share a of 22,398,954 4,982,307 8,297,245 income 93,387,417 75,057,83® 85,800,893 33,898,582' Other deductions Prov. $ V •Operating profit' 1,748,660,000 Jan. and 141,544,442 108,199,847 exclusive of (par $100),,, ^ preferred 3',&% contingencies^.,,, subsidiary companies,,,,.; 5,762,354 2,006,284 7,218,163 y $3,875,398 3,545,155 1,011,538 736,886 498,389 1,400,000 1,400,006 909,305 386,512. 15,000,000 15,000,006 12,713,586 20,448,348 1,723,076 14,318,056 13,112,026 2nd stock (par $100),—^^ 5,000,000 preferred stock (par $100),,. 9,945,800 iCommon stock (par $1),,^.^—3,448,820 Capital surplus ^ Earned surplus , Total —— $90,130,525 $55,108,646 "After reserve for discounts and doubtful accounts of $347,504 in and $177,333 in 1945yfAfter reserve for depreciation and amor¬ tization of $13,376,020 in 1946 and $11,462,114 in 1945. JAfter deduct¬ ing U. S. Treasury tax notes of $6,257,107 in 1946 and .. 1946 1945.—V. 164# p. 2403. / *'-. $9,648,173 in „* (Reg. U. 8. Pa/tent Office) William B. Dana President; William D. Riggs, Business Manager. PublishedCompany, Publishers, 25 Park Place, New York 8, N. Y„ REctor 2-9570. Herbert D. Offices: 135 8. La Salle Seihert, Editor and Publisher; twice a week St., Chicago 3, 111. [every Thursday (general news and (Telephone: state 0613): 1 as eeoond-clasfl advertising issue) with a statistical issue on matter Februaiy 25, Drapers' Gardens, London, E. O., 1942, at the post Monday). Other England, c/o Edwards & Smith. Copyright 1947 office at New York. N. Csbwia. $36.50 per year; South and by William B. Dana Y., under the Act of March Company, Reentered Central 3, 1879. Subscriptions in United States America, Spain, Mexico and NOTE: On account of the and Possessions, $35.00 per Cuba, $38.50 per year; Great fluctuations in the late* year; in Dominion ol Britain, Continental Europe of .exchange (except Spain), Asia, Australia and ♦•emirter.ce4 'or Africa, forei,?n to> 1945 Sept. 28, '46 Sept. 29, '45 Sept. 30, '44 Other tincome Passaic, N. J., recapitalization on cents ■: the was □ $2,395,379 $30,079,449 $28,113,695 depreciation, amortization •; ; is production Depreciation and^amortizationiw.^ ;-1.706,851 1,810,939,000 ' 1,514,271,000 1,432,209,000 1,274,745,000 1,278,676,000 1,113,056,000 1,008,013,000 1,013,476,000 1,074,119,0OO 1,240^125,000 1,384,018,000 ( I In cotton Phenix Gross profit - a ^"SX ' earnings calendar compared ■; for plants C., v allowances Cost of sales, offices (Expressed in United States Currency) Period End. Nov. 30— 1946—Month—1945 1946—11 Mos.—1945 Gross earn, from oper., $7,195,692 $5,672,792 $71,001,372 $59,457,476 operating expenses 4,347,305" 3,277,413 40,921,923 31,343,781 *Nct 1946 as Approximately company fine and Rockingham, units obtained * s ~ - of the stock distribupast year there was of shareholders so that number the CONSOLIDATED INCOME executive Brazilian Traction, Light & Tower Co., Ltd. —Earnings— the stockholders. of facilities fibers year Gastonia, ■Year'sEnded-*--", 4% to of SEC 80$ t'';-:;'-* split share common shares families. the fiscal year, blends 6f man-made two || with ^ development expenses. was end indicates an ever-widening stock. During the 6,453 their in share per adjusted survey common fihe Inc., Helena, Mont.—Files used for the value par paid $1.17 Vz of common outstanding ana the basis the recent Earlier , 10 underwriting. Proceeds and other at \ bringing stock on A year. mixtures. The company on Ded. 30 filed a letter of notification with the SEO for 270,000 shares of stock, to be offered at & stock additional stock Dividends the one and goods were enlarged through acquisitions of going concerns and a program of expansion of existing plants entered upon. In August, the company purchased and established as a new operating division Cramerton Mills, Cramerton, N. C., manufacturers of the r Boulder Belle Mining common of outstanding, EXPANSION the dropped. The to the remaining phases of the plan, Col. Johnson the right to purchase 50,000 for $2 a share up to the year 1950.—V. 364, with contingencies. upon its postwar expansion, was provided through the successful cumulatlvie preferred stock, par value 3V2% convertible second preferred stock through common share directors from gave stock $37,099,159. history,, with split-up in July, the company has dividends of 25c a share on the new stock and in September declared an extra dividend of 25c a shake of Burlington's increase of 1,700, •currently ■ however, objected which of tht* against of - tion .• , briefs within. 20 days. Dorothy Hennessey of Woodport, Morris County, N. J., holder of five •shares of class A stock^. brought the action on the grounds that the company plan would be illegal. i h ,i;Counsel for the company said that. there was no cause for action because most of the plans for recapitalization had been complainant was $58,363,824 company's operational of tax during considerably totalled entered year 3,448,820 the facturing motion to show" cause why this Col. Charles F. H. Johnson of M. this working capital in acquisition* one-fourth 3Va% " the per "calendar a from submitting stockholders, Vice Chancellor Vivian its both • equipment net possible July, COMPARATIVE on of program of share were in on $•62 Va 16,221,145,000 15,892,307,000 After hearing arguments to repeal improved assets a various applied the STRUCTURE—COMMON basis each Following addition Total —V. 164, p. 1864. from tax as " approximately 1,771,159,000 1,619,933,000 1,459,561,000 1,331,090,000 1,177,988,000 1,100,842,000 1,031,410,000 1,100,204,000 1,163,677,000 1,297,645,000 1,397.814,000 1,769,887,000 - Net declared quarterly -Monthly' butpiit—- October ,, Halsey, Stuart & Go. Inc. "in the offering are: Equitable Securities Corp.; Harris, Hall & Co. (Inc.); Otis & Co. US. W. Pressprich & (Inc.); Co.; L. F. Rothschild &" Co,; Julien Collins & □First of Michigan Co.; Corp.; The Illinois Co.; The First Cleveland Corp.; TCebbon, McCormick & Co.; Mason Moran & Co.; McDonald & IMcMaster Hutchinson & Co.; Co.; E. W'. & R. C. Miller & -Ross. & Co.;» Alfred Co.; Mullahey, O'Gara & Co,; Wm. E. Pollock & JSchwabacher & Co.; Thomas-& Co. Co:, Inc.; and F. S. Yantis & Co.. Inc. —V. 164, p. 3410. v: The Commercial and Financial Chronicle William Dana Seibert, all shares In outstanding., 165, - .. & for there at „ Bros. $100. two-for-one - corporation's : 1946. • subsequently sold. Additions to present plants approximating 375,000 square feet were constructed and new a share without- •'■i machinery and other facilities approximating $4,750,000 were installed. working capital.— ' July 99.40L and immediately re-offered them, sub¬ ject to ICC approval, at prices to yield from 1.15% to J2.25%, according to maturity. The certificates mature $331,000 annually Jan. 1, 1948 ti> 1957, inclusive, and are; -being issued under the Philadelphia Plan. %. Three other bid9, each naming a 2% Salomon shares and .100,000 and > v:- - •!—— o--—— August "September with were: for CAPITAL 50,000 value a year common cfepafcityr iMr. Sutton has established and Will direct for in at $1 augment - . expendi- new bid of They strongest resources cbmmon " editor and war, corre¬ Relations Counselor for this " Cubic Feet) □April May.. the , • the Rogers, President, notification to be offered June Baltimore & Ohio RR*—Equipment Trusts Offered— •Halsey, Stuart & Co. Inc. and associates won the award -Jan. 6 of $3,310,000 2% equipment trust certificates •cost «'/ record 16.—V. 164, "p. 2683. of par on the concern letter of a common will 2150. p. 30 ($1 par) March- payable company for general the January February distribu¬ Of a in progress Spencer DIVIDENDS Consistent with its past policy of increasing earnings and stability integration of yarn spinning facilities and $100, or , announced the. purchase of 56% of Loretto Distilling Co., which increases Boston Consolidated Gas C®.(In Boyle, who has been ; reflects sale 8 the of profits current company during the program. Capital for this & Co., Inc.—Increases Stock Holdings—- Jan. on always through . ■ not alphabetical alphabetical near lhe without loans . to is exact as forward earnings, ' ;r per Jan. excess year $21,264,665, NEW , ■> $1.50 per share for show 1; 1946. working capital adequate ' • liquidation 4 in increased volume Federal fiscal company's Sept. 28; 1946, liabilities of reorganiza- , the This 67; V. 164,- p. 3282. p. it reasons year. At current Botany Worsted Mills—Briefs Ordered Filed— ■ iSons, year. letter of notification with the SEC a disbursing agent, • of 1346. p. to effective until Jan. The bonds then out¬ therefore represents the the of for company's not in ago previous provision expansions. the > Sullivan, years SouthvMichigan ; Ava.>; Chicago, III.—164, p.^^ 2683 $0.30 : General Manager of the .Pelton Water "Wheel Co., a subsidiary, has been named Vice-President of that com¬ pany. He has been Baldwin's Pacific-Coast District Sales Manager as "well as General Manager of Pelton.—V. 165# p. 67. f i • / " ^ . , rsale. Boyce, remaining loans as several the and Bros. John corporation, which posi¬ for some years previously. during the year the corporation Wilbur made 27 filed common stock news.bureau at. 310 □ a an . $136,27$ $0.40'.. equipping of added Bayway. directors, and 1947 and stock for a new high, as compared with $108,199,840. Net earnings amounted to $12,920,797, which preferred stock share on dividends, equalled $3.47 per 3,448,820 shares of common stock. These with 1945 fiscal figures compare year earnings of $4,980,728, or $1.32 per share after preferred dividend requirements and after common adjusting the 1,723,076 shares outstanding at that time for the two-forgone stock: split in July, 1946. Improved profits result almost lower taxes, combined entirely from with Boyce. was Secretary of the its par) makes corporation.* > In his new Baldwin Locomotive Works—New Vice-President of "XJnit— Wi of the -TDonn Sutton, former, newspaper. syndicate spondent, has been- appointed Public which 141,937 shares $500,000 .of the net will be corporation, The.company continued reached $141,544,442, alter Borg-Warner' Corp.—Public Relations Counselor— . theoretically $178,583 ; dividend the |i* 8, 688. p. . «otal, company is selling 66,000 shares and remaining -are being sold by certain stockholders. About Clearing, off in board the/retirement: for 34,344 shares to company also was (no company The 438,637 95,000 a of Co., dividend always possible. as sales served Mr. are all 1 payable on Jan. their certificates companies of dividend Burlington Mills Corp.—Annual Report—J. Love, President, on Dec. 31 said in part: < 1937. Booth (F. E:) Co., Inc.—Files with SEC— . The company on Jan. 7 filed a registration Statement With the- SEC for 207,937 shares, ($1 par) common. Underwriters, Lehman Brothers, ♦Goldman, Sachs & Co.", Wertheim & Co. and Burnham & Co. to affairs the elected has in 67.;-v.Xv-X^4X^: Babbitt (B. %), inc., New York—Registers with SEC proceeds to partner of He succeeding arrange conditions.—V.164, outstanding 2,077,662 holders of record Feb. 15, 1947. A similar was made in each quarter during 1946.—V. 164, p. 3138. tion a Blum company's interest •77.21%.—v. 165, p. 4,819,349 —288,583 period_Xl—— directors. reorganization President, to payment liquidating declared." X Stein Bros. & Boyce, preferred stock. William M. delay was decided upon because of current 3410. p. $466,765 —:—110,000 the its of was York, N. Y.—V. 157, However, they "after the linal been to Co., Terminals, Inc., the concern supervising Bayway Terminal Corp. Henceforth he v:,.- " for of New position 4.20% $2,820,578 231,279 inoome before^ taxes——3 federal income taxes—: firm dividend that the has A07"£—For mechanical - quarterly .dividends' of 30 cents per share and said the Dec. 21, '46 Pec. 22, '45 □Net is & share stockholders presenting the Underwriters Trust possible order. an V 175,963 32,579 L—$4,114,565 — Stock Pressprich \ /Birmingham Electric Co.—Sale Postponed— 165, p. 67. 12 Weeks Ended— share. a W. t usual - Broadway, announced corporation per liquidating to with ^ The company postponed fof io days Jan. 7 a! proposed public sale of 45,478 shares of -* Was opening.-rV, year iSales Net incothe since elected occupied by Mr. the This . 1943 151,466 rv , factory aiArdmore, Pa;, produced 5,320 the board 8IV4 cents on the $3.25 cumulative paid on Dec. 28, 1946 to holders Of record Dec. ' Automatic Canteen Co. of America—Earnings— ; ' of time also was been on stock $459,114 25,010 /" Adolf Gelpke, Production Manager since May, 1944, hat ;itt 74% full member shares 7.- The . the Santa Fe 1944 91,871 *• $30 Tidewater Wilbur, a underwriting. ■Was corporation (Philip). Blum 1945 ^ 60 3 the of $1.58 cancellation at Corp. year, the same paid in the preceding year.\ A year-end distribution of 30 cents was also made on Jan. 22, 1946. _ (The) Autocar Co.—New Vice-President, etc.— possible when that the ■as - *,<■*■> sub¬ of During ;vV.V * thereafter, Beneficial lndustrial Loan Corp.—Year-End Dividend The/directors recently 'declared a year^end dividend of 30 bents !., -Atlanta & West Point BR.-Earnings- The of has-been The company on Dec. for . •. Co., the in partner in as cargo planes company's operations base, Los Angeles Municipal Airport, on it is announced. Capable of carrying 20,000 pound-pay loads, the Douglas company confirms that the conversion job is the most ^extensive done to- date on exclusive air ^ freight equipment,l 65, 3>. 67. 3,676.294 4,782,639 Net from railway—, 314,207 1,108,662 Net ry» oper, incomo-i-; ^ rf134,006 276,619 ,* 'Deficit.—-V, 164, p. 2954. /■■.;■' Steel on-Jan! liabilities the' amount The final for ■SEC— v the railway— the acted Beacon Associates, Inc., Providence, R. I.—Files with JDec. 27, *7,791 & known ;; senior Chairman completely paid was Air Freight Affiliate Receives Delivery of First dFour Planes— \ From January 1 •Gross from at through R. 165, p. 67 :; ttiQn. in l937, . approximated !!,500,000.—V, 159, switching I Iron | The directors notification with the SEC behalf of Herman D. Ruhm, Jr., on which, ^ 1 common The repayment of the complete retirement of a debt for} the Super Chief, November— 1946 ♦Gross from railway^-$335,152 Net from railway—-**488 Net ry. oper. income— Central handled and Brooklyn National Corp.—Final Liquidating Dividend & as letter of a broker J—V. a activities his A. had t Vice-President* filed underwriting. Proceeds will be used advances to subsidiaries.—V. .165, pool,from .which-is 1 :$%. *0:!$ y f Santa Fe Skyway, Inc., contract air freight affiliate of •Railway, took delivery of the first of four modified DC-4 firm, years Farr Corp. Co., Lewiston, Me.—Files standing. This addition to Santa Fe's Diesel fleet brings to 388 General Motors units in Santa Fe passenger, freight and terminal - ■. the /.connection 'with locomotive ^service* t as Lincoln elected has /6,15^,972 Corp., '•/;■' rat 31 par) Boyce, Announcement .. Chief and other .high-speed ^passfenger.trains.' " . of devote tion 30 when Fred G. Gurley, President of the Santa Railway, stated that six "of these locomotives had; been deliv?red £o the .railway .and added to the railway's .power • ($10 Coughlin Treasurer, F»3, the wide range' Diesel locomo- □Fe idrawn J. LeRoy Atchison Topeka & Santa Fe Ry.—Adds to Power Pool 'The first, application, of the new- V several Otis, Steel 3139. - $19,949,477 $21,814,992 $16,187,931 $11,651,909 ■*—V. 163t P. 306. law Duluth, Minn., and other important devote his full time to the Barium Steel Dec. on elected business will $2,780,556 3,750,000 1,725,000 336,619; 56,177 .1,665 ■•- 1,604 969,100 971,600 964,000 964,000 1,905 4,000,000 964,000 5,856,479 " 3,983,100 965,352 the Coughlin, formerly Vice-President officer 62,699 , $4,675,717 '1,115,000 1,098 - —; of Owen, Barium the last the company to be offered over-the-counter market Prevost Leo .was $4,877,608 5,000.000 the of on as'President 'Mr. $19,949,477 $21,814,992 $16,187,931 $11,651,909 $3,453,721 the ,of " LIABILITIES^- > iV Current-liabilities Willkie, with ' has.been - /V sold C. $381,940 1,467,426 7,637,296 .231,679 Irici, p. •New,York, acting 1943 2,974,746 4,840,717 1,703,507 for Manufacturing Paid— $1,351,326 j 7,604,780 * 172*653 Property acct.—net peferred charges Steel of with acquisition will now firm while 4.X Bay way Terminal Corp.-Changes in Personnel—Bank Loans ;; J1944 $4,664,121 3,102,449 2,049,308 5,749,045 ' — other He 500 shares "be $733,866 taxes,, paid 1945 $2,670,186 receivable Works, law associated Banser, in ;the The company - for in previous yy' 1946 mktble. .Accounts the Mr. ; SEC— CONSOLIDATED BALANCE SHEET, SEPT. 30 i' Iron Bates ! 818,000 . of become 'interests.—V. 164, $1,914,065 ;i v 362,219 817,544 tCr85,000 excess of current taxes. (• Clyde President ,1 recoveries Banser has Counsel. legal ,affairs 'of. Barium 83,994 : r. Net C. Gallagher General $1,830,091 .65,027 . - ' John ... 1,141,143 - $3,263,491'; $2,505,436 , 162,142 .- ::V- Total Other deductions Income taxes (est.) * -1943 rthe corporation 1,974,319 and income ■ Barium Steel Corp.—New General Counsel— i sidiaries. Operating profit Interest, dividends i 1944 ' ■ V < Subs.)—Earnings— $20,401,438 $34,812,830 $18,736,838 $17,057,808 14,356,385 27,604,411 13,356,673 12,573,469 2,104,304 1,970,609 1,582,974 1,513,105 sold Sell., artm. & gen. Deplet., depreclat. 7 203 (& r-..1945 'Net sale Cost THE COMMERCIAL & FINANCIAL CHRONICLE t subscriptions find advertisements must be made in New York funds $42.00 ; :• \ per year .>)/ THE/COMMERCIAL & ^FINANCIAL" CHRONICLE Burlington-Rock Island 'y/. ». • V1945 1946 ;• November— i 1944 1943 $250,877 >,$171,766 j 38,271 69,073 78,097 ' 58,080 j .Net ry. oper. income.. / "4,022 18,130 28,212 . v 42,321 I us:From January 1—'V* ; .. ' Gross irom railway—/ 2,924,870 2,975,795/ 2,784,842 - 2,5,17,585 Net from railway ; 608,321 1,009,029 1,037,858 932,922 .Net ry. oper. income--, - ' ' 32,021 448,633 V 547.205 560,952 ^November-*- i Net ?4Cambria &' Indiana »■. :i>Deficit.—V. ^ 1943 $112,012-'s .21,60951,257 /,/ 57,851 61,596 ££„ . Yl. 1,418,063 1,676,437' {1,674,774 ; 490,499 689,868 1 ' 502,511 1 540,235 601,464 "' '538,708 ' //'>''/;Y;^''' 'v!> -'5 ::>;■■ 639,141 '2954;' 164, p. ; . '/'■ V 17.-4946, show compared with 78 cents for last. year.' Net sales Increased to $37,587,143 from $32,479,067 a year ago. Taxes on iniicome were down to $1,603,991 as compared with $1,972,692 last year. Operations of the company were handicapped by dislocations growing -.out of the war, R. W. Moore, President, indicated in his annual letter to stockholders. He said, however, that increased operating expenses, the; reduction ih sugar allotments and the lowered imports of Scotch Whisky had been ofiset by increased sales of Canada Dry Water and greater volume in the wine and spirit divisions.- ;„y,.*/vr4>vi." Y this made V. 165, Net - sales Canada Dry International, Inc., Net . and income excess gen. 74,790 ' deductions)—---- income 122-2 Henri, vertising ■ -share)-—representing a of -proceeds excess CC amount of such preference over-net ' 50,429 shares_„: . 1 > I '" > —■: '-• - —— i surplus held— - portion of new ' /...1946 .-II,"' S. Govt, post-war tax - Securities wholly s . receivable U. and tax ___u advances Dominion and of credits : i expenses deferred and Total /■ ' — £ charges Earnings per - 8. payable and foreign — • QC'Z f. ' Total fcRepresented by Canadian National Lines in New f November— Gross from Net frpm Net ry. Net oper. from railway from Net; r* oner „ ^nenme... 'i-r*Deficit.—V„ *126,153 4 - "1,155,377 ; „ 2,093,900 "170,572 V *835,498 v ' kwptw;— 1,701,700 <*420,669 "1.022,763 V :' «•*' 164, p. 2827.'- ^ $154,700 "19,474 "74,328 * 11- „ ; > t . *■ » f. * '• * ,. . 789,237 r :' 333,551 93,692 '404,359 $2.62 , 357,080 . $1.01 ; to officers and : employees // / — ,* 132,755 ' 32,266 RESULTS FOR MONTH AND FIRST 11 MONTHS From January 1—: ry. oper. preferred stock (par $100). — preferred stock (par $100)——--— tCommon stock (par $5) Capital surplus Earned surplus 25,994,406 6,423,757 6,068,370 7,674,372 385,787 3,377,129 3,302,301 - 4,600)408 U. S. ; . —~— V. 164, p. 1205.- Total .. >. i—1 3,758,292 474,979 > ——w—— Lines under yhich the) lines* Transit Authority for $75,900,000. ■':! '/■///' " / .. A: Interest in BPIC—- Chilton Co.—Sells . ■Y McGraw-Hill Publishing Co. See ,i;. ■ _ '- on Equipment Issue— 3,720,625 473,845 2,680,833 Y ' ^ '.A:. V . York up to C. L T. Financial D. M. S. Investment Hegarty Trust and Sons, Corp.—New Official of Unit— Y Y been elected Vice President of Commercial has resigned as Vice- President of E. H. has Inc.; He Inc.—V. 164, p, 2540. ■Y'-'. '. ..YY-'' ■' '■ 'Y^' Ulun>inating Co.—Stock to Be Of¬ fered,by Parent— YV'.'Y' //■;.' ■' Zr/w/i. Cleveland Electric i 6,937 .1,354,900 ^ received at company's office, room 2018, 70 Pine St;, 3 p.m. EST Jan. 23 for the sale of $1,700,000 equip¬ ment trust certificates Series K. Dated Feb. 15. 1947 certificates will mature in 10 equal annual installments 1948-1957. Dividend rate is to be specified in the bids.—V. 165, p. 70. .;// '%* ./>/:/;•::/ & :.."/>*.//-'Z ;"/'//■ :>//•-;:v': - ■///>'. -.vvV*-•/!/■ - 590,000 '/ lA , will be Bids New " below.—V. 164, p. 2828..■ h-w-'i' " Cincinnati New Orleans & Texas Pacific Ry*-—SeeKa Bids 558,102 ; UpJfeidjr- Appeals at Chicago has UDheld a plan of the Chicago Surface reorganization plan, previously approved by Federal Judge challenged by minority stockholders, who appealed Judge Igoe's decision. ' . U The stockholders' appeal was made on the grounds that the 'rieor* ganization plan was unfair and inequitable and not authorized under provisions of the Federal Bankruptcy Act. They also contended th® plan was unfair because the property was Insufficiently valued. v.; ■ : 41,050 1,750,000 ; 13,105 " 4,000,000 ' . Lines—Reorganization Plan Court of Circuit The 19,002 , • - —w—— VII-J.! Michael L. Igce, was 22,418 - 856,347 x——-—3,397,785 25,027,818 24,920,515 2,957,916 property is to be sold to the Chicago /- -,2,063,342 1,145,000 — 371,033 410,309 / — reorganization Rollins 1 697,464 income— Chicago Surface The of 1/ » $250,000 / $300,000 ——...1,318,174 ; 935,457 1947— •, P $2,314,237 678,334 396,257 573,524 / "184,680 . 1943 24,940,381 railway from Net • 1944 •Y $2,236,282 >;V- railway.— from Gross , income 1945 '■/ $2,490,284 v'/S''//.-1946 $2,526,556 574,197 . from railway from railway.:.—. Net ry. oper. Income. — 102,900 20,129 payable—banks, due within one year—' payable—banks, due after Oct. 31, fi> A ..yf?v;f % " $16,963,681 $10,620,699 / "After reserves for depreciation and amortization, of $2,326,499 in 7 3946 and $2,426,651 in 1945. / tRepresent.ed. by 450,995 shares in 1946 tend , n:.;'V 9iJ-' 446,475 shares in 1945.—V. 363, p. 1723. -<_>■•'•• ;•< i-i, 2 ffi A 'V'i'-L «;■/''*. *,*.« V. ' was tificates, ,They were; Salomon Bros. & JHutzler^ 10q,381 for 2y8Si;Harr!s, & Co.' (lnc.3 100.21 for" 2,/es} and First National Bank of St. $16,963,681 $10,620,699 ' ; . Hall 1945 35,678 T—.—■ —-—1—— 914,1|4 issued under an agreement to be dated to be Haul/ '«*. ' SHEET, OCT. 31/7 •'.•■■ ' 1946 ; 5% 1,598,000 "594,508 *1,199,383 2,416,696 848,592 will be issued to provide for not exceeding 75% equipment, estimated to cost at least $1,387,400. ', awarded on a bid of 100.5673. Bidding for the cer¬ tificates on a 1- to 10-year basis, the same firm offered 100.409 for a 2,/a% coupon..Three other bids were received for 1- to 10-year cer¬ Net .; jV; 4% 1943 / $154,500 -"81,709 *138,928 ; " ~ ------ LIABILITIES— Notes ; : 2,570,025 892,382 and Unearned 1944 - 1,931,500 "519,000 railway , England—Earnings— 1945 $140,100 "72,894 1946 $175,000 <"73,404 "128,368 railway railway..—- Income... From January !—' ' ; Gross ; shares.—V. 164, p. 951. par no 1,908,598 84,655- of new issue November-—- 293,354 -v /'l share payable — Accrued payroll, bonuses, state and local taxes, royalties, etc. ■ — Prov. for Federal and Dominion income taxes— $29,537,540 $26,361,962 2.—— —2—_L common Accounts - . " 1,232,011 617,492 1 are Gross ' $1,307,284 7- $520,869 .. 33,872 , 67,745 stock—-r-——/— Total Notes 5,791,236 certificates the cost of /;/The ' ■'• 6,449,582. as of Feb. 1, 1947 which will provide for the issuance of $1,020,009 par value of certificates to be secured by new standard-gauge railroad equipment, estimated to cost at least $1,397,400. Issuance and sale of these certificates are subject to authorization by the Interstate Commerce Commission. , / 6,147,419 -206,214 , 2828. 164, p. certificates These The 245,155 >7 87,624 —... preferred amortization .< . 5,543,336 railway, rallWay...... income... from 2,637,990 346,647 Investment In majority . owned unconsolidated Engjish subsidiary, at cost—...—— 54,418 Postwar refund of excess profits tax^ 11,593 "Property, plant and equipment.ri. ^ • 2,810,201 Buildings under construction and equipment in/i //://;/ process of installation .... r/: 677,112 Patents and patent applications, at cost less :</• - ••.•• - 78,388 . ? „ •/•i.FrOni''J&ndary- on Advances ——- 71,493 V 238,097 3,514,867 - taxes.——... Deferred charges , taxes on income *22,96? , $565,308 *8,479 ;:v , United States and Notes $563,581 'r.241,356 •• •, $1,020,000 of 2%% equipment trust certificates (Philadelphia Plan) to mature $68,000 annually on each 1,1948 to 1962, inclusive. They were priced to yield 1.10% to 2.50%, according to maturity, • 'V'" . $520,898 132,317 railway from /•'• Feb. . 298,919 .-.i——-«r/;■/;-> -7 -'i 1 — ASSETS— ' Cash I $1,517,522 $907,569 338,254 204,871 1,573,691 1,934,975 Other taxes / 399,421/ 390,692 Salaries, wages, commissions, etc.— — - Z 161,001 V 188,565 Notes payable to bank, due Aug. 31, 1950 550,000 .5 200,000 Liability to customers for deposits on returnable • : containers ■; ——! 2,722,383 2,402,095 "$4.25 preferred stock— : 5,007,700 5,042,900 Common stock 3,171,685 3,075,785 Capital (paid-in) surplus— 2,295,224 1,482,450 Earned surplus 11,815,191 10,687,282 Common stock in treasury (11,000 shs.), at cost Drl4,530 J5rl55,223 U. etc.—~— payable—trade, Accounts / r/./v'Y' J' 1943 Chicago, St. Paul, Minneapolis & Omaha Ry^—Equip* Offered—Halsey, Stuart & Co. Inc. on Jan. $5,904,270 ' $3,685,291 ///'/■ 3,543,196 9 offered hand and demand deposits-———-/ $3,644,834 $926,977 Canadian Govt, obligations— 79,721 676,244 accounts receivable (less reserve)— . 3,207,640 v 2,289,016 Inventories, at the lower of average cost or marketJ 6,277,464 *-4,459,622 84,234 10,439,836 1 595,977 LIABILTIES— Dividends —- 10,718,953 ment Trusts 1946 >' CONSOLIDATED BALANCE 123,503 i>i • : income Nefiincome • 714,466 t 27,812,134 1944 1945 1046 $422,213 ■ Net? jfronji ^ilwajpu* Net jy. oper. income /: •'-" - 7,239,468 2955. •Deficit.—V. Central #: Dividends on 4%' preferred stock— Dividends on common stock— $29,537,540 $26,361,962 —— — > Li f 2 'J" •• 100,500 13,954,770 ■ 1 - i > ,: ;S 126,053 ^ *•; - less reserves Goodwill, Prepaid • post-war Canada property, plant and equip.j trademarks, etc..—— Total Gross Net Subs.)—Earnings, etc.— Cherry-Burrell Corp. of Canada,; Ltd.J Oct. 31— Dividends on 5% ■ not controlled but to . Exfte^..profits, taxes..;—r-4-' . 2,396,687 income. November-— Income.i.———$6,203,190~ $3,923,388 Normal ^ ^3,457,615 692,292 railway oper. Gross1 from! & taxes shipping and administrative expenses— deductions—interest, sales discounts, etc. v Prov. foi? Federal and- Canadian; income taxes: 67,100 64,200 > —• subs. owned Govt, S. from '' District market , Other 368,569 > and notes stock), and (mortgages in Invest, ...330,275 7nb°me' Total 252,224 27,814,826 8,435,910 2,885,969 ; 914,386 334,859 Chicago & Illinois Midland Ry^—Earnings— Sub.)—Earnings— Selling, 990,991 2,500,000 returnable by (pst.) accounts V 1945 W$3,962,884 - ■. receivable accounts Deposits receivable on containers . companies.—V. 165, p. 69. charges '"."'"'Vft (net) J— Inventories customers Other t-9,001-263,797 2,227,177 1,668,931 ——• -.5,797,750 5,106,681 —..— 241,363 / ; 189,458 refund.:.- drafts .-and accounts receivable from Net '/ 2 .^ojtepLTOATEP FA^AN<?EfrB®CEE^/rSEPT< 30 2 *. , profit Gross 234,518 27,089,671 Income. W '. oper. ry. / '"7 1945 y; Net sales i.:.—— $22,877,090 $17,818,985 Cost of sales—/16,972,829 14,133,693 / "• 485,327 railway.. .J / 24,690,807 v, .// y ahead? with exchanges of preferred stock of going Llnqluding ' <, v — 1943 $2,770,866 $2,491,885 $2,556,806 615,434 / 782,094 for an extensive Cherry-Burrell Corp» (& .£ railway $2,577,434 " 701,909 — ; : •• railway- January 1— Net 12 Wks. 28 Wks. *$1,190,713 $2,682,247 |/fEarned per /share on' 1,102,000 common shs. / $0.99 - /82.227 "After provision of $1,127,402 for Federal and State income taxes. In arriving at net income for the current, quarter, deductions of $4,78,000 were made for anticipated extraordinary losses and /fo? past,-service payments under ^e company's retirement in'come plan; *• ASSETS— > from ry. Net Public Service for new common company. It will open bids on Jan. 27 for sale of a/7 common to provide funds to redeem unchanged pre¬ after income Net - - — <3ash on hand .and on deposit— $4,271,985 Dominion,-^of Canada 3% Victory bonds—; 1,200,000 tJ. S. Treasury notes, tax series C-r-at cost—^ ; u 500,000 Sundry Net -• Champion Paper & Fibre Co. (& Period Ended Nqv. 10,1946 x / $11,815,191 $10,687,282 "$1.07 '■'** $0.78 stock after giving effect to 3 for 1 common.share_^,_-^ from Net West and American ferred stocks of the two ^ |4ptes, York, plants.—V.'164, ■ >p,^ V 1865, p. \ fs' . , r « s"1 1 J 'K * s .. common. ~ South merged the of li06,966 Mfclitup in July 1946. «x Chicago Great Western Ry.—Earnings— ':/l§46'*:^v ; 1945 '■ ■/• ■ 1944 ' Net ry. oper. company is Central .605,107 , 2,430,528 > 1,093,729 1,319,371 2,278,338 income— oper. from November—4 .. South West & £7- The 145,844 747,864 '■ railway——— —V. 164, p. :<7in the market since the plan was approved by the SEC and the Court. It argued that consummation on the basis of current conditions would result in unfair treatment of public holders of i - b"On present outstanding common £ x""'~ A 7 ■/"/.-//Wri/ — ; ...■ v', i'.;; . RRiY-^arningsY- ■" rf/ Quincy railway—.. 180,254,535 226,084,087 220,591,627 198,420,239 Net from railway..— 55,414,319 90,778,364 v 87,181,138: 91,207,112 Net ry. oper. income 25,609,543 27,402,167 24,955,681 36,171,403 —V. 164, p, 3283. /• L-. *. ■ \ V Centralt& South West Utilities Co.-—Merger Plan Up¬ 203,560 ^ 213,954 dividends , ry. Gross products including Acoustic-Celowith new products the company acquisition- Of existing properties arid by 1 25,675 ;)r ♦" ; ■ •: "P:v-v From January 1—Gross market during the coming-year. was further announced, is expanding its man-!./ extensively, both through additions to its present ~ - dividends per Net it corporation Years Ended Earned from the to introduce The ufacturing facilities ■ —X V* - \ ■..<//;/ 1946 1945' ■ / 1944 t - 1943 railway—.. $16,246,812 $17,002,042 $21,130,865 $19,604,556 4,817,567 4,835,659 9,037,921 8,647,186 from Net Gross stated advertising campaign on all Celotex and Insulation Board, to gether ; ; companies 'Afnount required to state preferred stock on the-^-®' -—basis of its preference in involuntary liquida- Balance \ , effective Jan. 1, 1947. that plans are in preparation agency, tex 167.389 ;, i. 1,600 50-ton all-steel box cars, 1 000 and 600 for the Nickel Plate.—V. 165. November-.' ' Gross r* Bank & Trust Co., 165 Broadway, New surrender of temporary certificates^ . Collins Mr. • ^ 166,289 of predecessor assets tCpmmon . W. Collin?, Vice- President, has announced the appointment Hurst & McDonald, Inc. of Chicago as the company's ad¬ .Henry of $2,256,015 : $1,559,417 10,687,282'' 1Q,215,018 —- » of />-' ' ' Co.—Listing— Advertising Agency Appointed— will adjustment-—\Crl61,175( Adjustments of reserve for valuation of cases to •;■; amt. equal to 25% of. ledger value, of cases-i t./;Excess of cost of acquisition ever-recorded Val. sale , are & O., C. Chicago Burlington & From 22—-_—.2—-v———$12,943,297 $11,774,433^ surplus Preferred '/* s 3%% 15-year Y.r/upon . income■_ ji_' beginning, of year—v.. f-'Cation.t' ($100 '* f inquiry the ;/V / available at the Chemical N. —— $3,698,831 $3,532,109 _J—i-ii-.V: 1,066,000 !. 672,000 tax_j„_——277,000'- -.1,021,000 excess profits taxes; 260,991 ■■! 279,692 Balance at from " the for t cumulative preferred stocks.— 4^4% , ■-■ in are . Corp.—Definitive Debentures Ready— debentures," due -Aug! 1, I960; ire now (The) Celotex taxes.--—,-i.— Foreign income and net / which New-.york;,N,-' Y.,i.has been appointe^ rffit Definitive . profits foreign exchange Total 'V-,> •>', .4 , " "/ ' Rail Equipment— ' the company's __1— income ^ \ •.1 Included of " income__2_^____l.__r_-v_-__r__^ $3,624,040 $3,364,719 (less Federal -I - . 716,916 ' • bearings roller c. & o..- $7,624,000 $7,637,000 ' •'. ./" 7; , - introduction an of - credits Federal f-f.ket < r : V"Judge Paul/Leahy in tJ7S. District Court at Wilmington, Del.,"has denied the motion filed by the common stockholders' protective com¬ $37,587,143 $32,479,067 ;; mittee of this company' to restrain the merger of American & Public Service Co. into Central & South West and to remit the case to the 19,776,586 15,888,975 Securities and Exchange Commission for further proceedings. and^dm. ,exps. 14,186,516 13,225,372 The committee had contended that unfavorable changes had occurred sold sell., distrib. operating Net 1 \-y£ »' 684,833 301,020 , ! into railroading of the first large-scale utiliza¬ in freight-car operations, this company, in a joint inquiry with the Nickel Plate Road, on Dec. 27 invited bids on 2,600 new all-steel units of freight car equipment, of which 1,000 70-ton hopper cars are to be equipped with roller bearings for use on • the Beginning Jan. 2, 1947, transactions in the common stock, par value $1, of Consolidated Biscuit Co., were recorded under the new name,;/; ."Carr-Consblidated Biscuit Co.''; pursuant to an agreement and plan of merger between Consolidated Biscuit Co.: and J. B. Carr, Biscuit Co., > which became effective on Dec. 31, 1946.-^y. 165, p* 69. • .-'i:'-''•> W*V?? i s. goods Income j Bids Sought on tion •>>. 1945 H; •' /1946 ;/■;>//■ "80,499 2955. certificates. As ' - Earnings— y<.; Y: Carr-Consolidated Biscuit During the year the alcoholic beverage".division expanded thrbugh ^hup acquisition of three imported lines. , Exshaw Cognacs from France £re .being, brought into, the country for the first time; and shipments 'of, Passport Rum from Puerto Rico are now being received. An exclusive y agency for the distribution of Hunt's Port Wines, announced earlier liji/the year,/is also-active. ; .>;;•>>:■'? v > >>j CONSOLIDATED INCOME ACCOUNT, YEARS ENDED SEPT. .30 1946 1945'' lif of 68. p. - ■«, Advert'., * •' " ' jn 18 countries through *901,825 ' ■1,502,700 company is dhvitirig bids for the sale of $2,300,000 equipment / Bids will-be received at company'^ office, 3400 Tower,. Cleveland; Ohio on or before noon (EST). Jah. 23. The certificates are to mature' Feb; 15,' 1948 to 1957, This/issue will finance part of the purchase price of new equipment estimated to cost $2,950,220., ; .;/■" ./; *■■.;■../f > *486,265 *958,075 Co./Inc.—Registrar—* The M^oufacthrers Trust Co., registrar for/the common and some -wholly-owned subsidiary, "497,598 Z , Lr— , new seven beverages '612,937. ' *130,035 164/p. "••• 3,959,589 Terminal 1,223,021 • income.l. oper. 4,211,391 .'1,475,115 3,743,552/ < 79,545 ■"■/, \ The trust *100,504 *76,339 - /y-v' $339/933 118,880 Chesapeake & Ohio Ry.-—3eeks Bids, on Equipmeuts-r Y; //*61,746 <1,392,597 - - • V ^ Carman & company-owned bottling plants for car¬ headway,,;Mr. Moore reported, ,and ■several, although incomplete, are; serving as warehouses, and distribu¬ tion centers. A new plant was completed in Havana and a second plant purchased at "Santiago. Cuba. * , .^Pending the anticipated raisihg of sugar quotas, plans have been /jDormulated for the large-scale promotions of sweet drinks in individual *feiae bottles, and. a training program for the expansion of the manStaff ''' V' ' ' ' ' "' *•-'• - •:,-v* •'.> • ft *•'r- •/*'■ **"j«- s 'yl, if-' At the close -of the-fiscal year, Mr., Moore said, there were 118 H6ensed bottlers in operation, with conditional license agreements operating in 96 additional markets and others are currently under consideration. In addition, licensees are making and selling soft drinks of Construction Cost .< •• - 1,266,843 ; 165, p. 68. year, - bonated "64,933 *112,104 End. Dec. 31—<>./.' ,<k outstanding after the, three-for-ohe a net income of $1.07 per common of .shares 1 currently number the -stock split of July :.Share —v. ry. "Deficit.—V. 1943. 1945 ,■•'?■/■ 1944 1 $290,222 " $355,827, 19,572 / /." 104,253 '•• ; 5,168 46,281 railway-.^163,724 ; ./, 720,339 from Net 1943 ... * 2954. p. Earnings Traffic toCompany and its Net $107,199 f $126,092 / *29,290 $96,902 -• Canadian Pacific Ry.—Traffic 10 Days • ; • . ' v. -' • r"£'V Y subsidiaries report a net income of $2,042,061 after preferred stock dividend requirements, equivalent to $3.21 per common .share for the fiscal year ended Sept. 30, 1946. This compares with * $1,413,573 alter preferred stock dividend requirements, equivalent to $2.34 pr common share last year. Adjusted figures on the basis of „ port— . "Deficit.—V. 164, v Ale, Inc. (& Subs.)—Annual Re¬ Canada Dry Ginger , ;. railway—Uh ' $146,274'' Net from, railway.-^ / .»- "45,278 Net ry. oper; income.j.. '. V- "98,869 From January i^;,//;;;?,Kr:/.;^ ,v), Gross from railway—i...1,566,601 • Net from railway *667,484 Net ry. oper. income.../ >229,419 / J from • 5,907,833 2,607,317 2,034,156 p. 2954.i from, Gross _ railway^:':—-Z.//V. 284,551.4 from Net kNet ry; oper. income Y/i "Deficit.—V. 164, / from.sraiiway_^.lfi, $304,736 railway.—X 29,127 Net ry. oper.. income... " . 10,684 ./• From January 1-^ > ;v v;/^ Gross from railway—__ $; 3,407,831 Net 129,639 *125,449 , ,1945 /" 1944i;^ • $135,842 (; $142,299;^, ' a 47,941' "56,304 i -49,836 *' - « ' 1 1,251,479 income: ju/Erom January.I— < ; :•/ Gross from ■ra.lway._.: v Net ry. oper. . 1946 , /Grbss $518,228 k 182,771 V1 v ' , ' / „ ' , ,// / Y Canadian RR.—Earnings—P.11$%/5'Y>.'| ??<■>.*YNovember—^ /Pacific Lilies; in Veymdni^Earnings]>194# %%> 1945 ■; i/fe:^1944 Y 1946 Gross from railway___V-,;A? $85,972 Net from - railway "1,444 ;' ''/*«* .November— . < - 92,609 v, 245,713 5,324 71,576 '"/r;..'/:// ,4,416,443 Oross, from railway—— '.,4,416,443 •: 6,132,918 s •5,554,267 2,051,152 ,679,554 Net from railway 679,554 2,175,588 .,,*280,843 Net ry. oper. income..* i,.,*280,843 <-1,056,312 '• 1,095,432 income... oper. NQvember— From January 1— . -• ry. 1943 1945 .'V 1944 . $441,189 Z'/!,$537,529 v y Net . | '^Deficit.—"V. 164,tp/'?954. 1946 " ; from railway„._*«, 'v $330,728 from railway*53,070 Gross ,,$236,603 V $257,450 Gross from railway—, Net from railway.—J— iikivi Western Carolina Ry.-^Earnings Charleston & Lines in Maine—Earnings— V. Canadian Pacific ;Y i v < RR,—Earnings— 1; 1" Monday/January 13,1947 f; See North American Co. below.—V. 164, p, 2541. Clinchfield RR.—Earnings— - November— Gross from • railway • Net irom srail^'ay Net ry. oper. income...- From'January 1— Gross from Net from Net ry. —v. railway—— raUway oper. income:.^ 164, p. 2955.: :.y '.s; : : 1945 / ■ 1944 ' 1943 $928,985 $1,146,411 $954,934 .474.748 356,076 588,746 - 429,301 435,584 289,513 . 468,006 * 318,004 ••'. '> " * •••' " • .. ^ ■ 12,130,513 12,200,607 13,086,088 11,617,782 4,977,453 - 5,616,401 ; 6,875,749 5,973,4" ' ' 'A, 117,262 4,590,731 5,638,535 4,740,^t Y 'V//Y'vY./Y" r/'-V-'-." ,Y' ' ■ ; Y : 1946 $1,133,699 * , ■ olume 165 /0 N umber; 4559 Collins & Aikman !THE Corp,,-{'& Subs.)—Earnings— ,9 Months Ended Dec/1-*- % Total income-™'Depreciation v; 1946 income taxes.//'./.. -Net'" profit.™.?. 1945 Earned per share™ *Includes $511,115 profit . oh $2,210,133 $3.71 plant.—V; 164, p, 2688. a ended Dec. 30, 1946 amounted to barrels '<■* * < ■ - :; - :' » ' 164, \ - Net - '.t - - - sales income after all charges Number of capital shares Earned per share——/«,.//'. t The - company reports tentative consolidated to $3.40 share. a three months ended income of $1,289,000 after compares with $784,737 or to '328,609 all ! oh cash Jan, 2 issued contribution of an order . permitting the corporation $500,000 to Atlantic contribution by Seaboard subsidiary Seaboard and a like Virginia Gas Transmission United Fuel Gas Co. of Commdnwealth Edison ;7v Electricity output of excluding showed sales a to 12.4% increase utilities, the over (a "Week EndCd— 4 * , of / 14 165, 70, Jan. • & of 5 cents share per per on share the $1 and the usual value par ; income a animajs the in and the V. 165, p. 70. expired to 31, of 10 j in 1946 at U. $23,900,000,000, 1946 of received. The cash 11%. is-estimated at The of $6,400,000,000, ' sales ' ' operating INCOME " ^ revenues.^ *46 33,054,636 Operating- profit Interest Other "of Australia- has cohtracted 300-mile-an-hour twin-engine transport airplanes for approximately $1,500^000,. A. W. Coles-and «nd. General to from of 7,921,285 profits taxes 9,300,000 4,690,000 * ; outstand- 6,720,585 2,505,097" — £ ASSETS— less Peliveries •Plant 728,990 /•;?'$12.19 467,489 Augds^v, ' • at cost . ; for and Total. basis) SHEET 12,809,360 i ™? 21,685,467 — charges (incl. debt t . Drug Co.*—December "Sales ' Pferiod Enid. Dec. ^ 31--fC; 1946—Month—1945 H ®a]res ™--/$1,580,690 ■j-V. 164, p, 3141, ,, . . Increased ' 947,612 - taxes to banks and others, " Notes April 1 . on and the July 5% 1 to respectively.**-^; 164, cumulative for- to holders p. :.'V'1-: ■. ?V 1591. of - record March 19 and June i'/' ' ./ •: ;'//• 'h ' " 1947, V-v v''ri,; Cudahy Packing Co. Annual Report—E. A. Cudahy Chairman of the- Board States in part*-? • 10,000,000 Increase sales REVENUES—Sales for the year or 1 Vz%?compared to $4,992,000 tonnage decreased The ■ AND of year extreme 1946 was 12%; ' abnormal fluctuations in periods of OPA were $349,901,000;'an 'previous year. Total "* in many volume of control respects. We experienced $7,482,661 6,420,527 5,670,253 $2,071,108 $2,115,840 '64,127 s?,jt 73,203 $2,353,056 — $2,146,657 10,979 12,101 i 785,000 11,938 290,000 1,227,000 283,000 1,424,500 v 360,000 i ' ;Ml* - -- - * - Crl42;4bO .stocksJ-! stock™,wv-. common ' - 8,100 share™-^-- ! $569,668 11,148 5,078 381,596 ;> ti, .$6.27 V- 238,385; , 238,047 ; $3.18 ;/> market in (after capital deducting stock of reserve $2.92 (first-in, first-out $175,000),; $3,623,045; of, subsidiaries npt on contribution other Jhan accrued to taxes employees' income, on ; rent, $93,638; Federal contract (payable In income-(estimated), of ,Fs , . ■ r'f *'• - ' Earnings ■. t - v - \ * « • Nate S. Shapero, President; on Nov. - 29 ' "•'!•« t , stated in~ '/Net * * . ■■ * ■ ■1 - 3 *»oh f pafi ' • ? following The Schettler Drug ."/Unconsolidated •*—V,.,164, ir i common stock • * ; . .. „ . • (& Subs.)—Earnings— (& ; $0,197,913 Nil 1944 T 1943 ? 1 $9;637,079 ■ $5,132,255 j 184,669 514,134 - - $0.36 ; fLoss.—V. 226,097 514,134 $0.44 p. 680.- 274,180 - 514,134 $0,53 i64, pJ 3412. ' "" Subs.)—Earnings—. / the •"■•-555;®®®"'' ..ay;-n <■, •> SOftOOO;; (• - •: ,Jl )■''tXJ''[ - ■ v' >' k, , v » * ■ " - *4 ?•'- '54c •»11 • $2:20 "**" '"r' -" ' ,\' , ,.$660,809 . /.«»J. l\ '?■& 'of • common notes improvements the company's plant. Proceeds-from; the sale of--thfe-serial notos, together with treasury funds, will be used to pay a short-term note in •the amount-of $25,000 to First National Bank of Boston''tthd to finance extensions, additions and improvements-to the company's3 properties during ■• '/ the plant 1948.*-V. three*year period ending Dec. 31, ?P?J868. . Deep Weils, Inc., Tulsa, Okla.—Files with The ; for cdmpany 240 shares on filed 'a Ietter Jan."2 ($100 par) stock to be of tools and for payroll. * .* • * i^ECJ-rr. nbtification offered writing. Proceeds will be used for purchase of < at par with the without SEC under¬ machinery, equipment, ? i«" N Deiiyer & Rib Grande Western RR.< -Earnings, /November-—. 1946 ; 1945, / ■ 1944, ///•1943-*' Gross/from railway?™. $4,053,193 $5,447,313 $6,054,377 $5,620,493 , -* Net from - railway_.^__, *191,994 •633,310 1,121.235 47,015,377 6,645,013 2,757,950 - ry. oper. income_„ From January 1— / Gross from railwayi___' ? ? Net from Net , ry. railwayut™. - income.— oper. •Deficit.—V. 164, p. 2956, * . ahd 16^4,- . u 28,388 and 'soil issue shares Insurance\C(>.:-v/I'?." Proceeds from the sale of the stock will be used to pay off $150,000.1. floating indebtedness incurred - for extensions and ( ( $168,719 capital for 459,163: 2,035,163 v 975,670 873,360 518,848 69,7,42,076 64,217,795 64,274,386 13,213,542 *693,296 20,994,250 26,506,355 12,672,52.7 15,201,413 . • .. • • •- - ■■■" »• > •> " . r ' , r -i Hyde Park Gas Co.V^o Issue Stock , . ■. $1,215,869 and livestock -• 1946 * 30* Association, >6,000 addi¬ ($25 par)," at par and to seli $125,000 a'term-not exceeding 15 years at a rate, of interest not to exceed 4% to Massachusetts Mutual Life v of share for "each share of Cunning¬ addition to the $6.27 per share , v. /- company has reOiresfced -istnthdf 1 Cy 16 f the SEC to parent, New England Gas & Electric to'its subsidiaries; .in subsidiaries—/ In alphabetical , '1945' (64,000 514,134 • & ;T C-ii 'K \ ■®. •" %. Net per near " . 45,730 outstanding, previously mentioned. stare??—^ Dcdham J - ■ —-a— ""This equity Amounted to $1.27 ham ' as^^rollows; * ■ Co non-retail per ■'.: ' Marshall Drug .The - 1946 charges and Federal taxes.: Net ■ income Earned per shaTe ott^^ " to . ' as - ('Federpl ;and-.city (a - the amounts shown: ' 1 in profit for the year is after provision for determinable inventory obsolescence and markdowns. The company has retained a reserve: of $180,000 from a previously established postwar reserve of $200,000 to offset possible future- declines in prices. ' * The aforementioned net profit does not reflect the company's equity of $242,837; in'/the. undistributed net/profits- of. the /unconsolidated subsidiaries" for the year, attributable to the - ' ,, 'Profits before Federal and city .taxes iUn. income—- sales for the -fiscal year ended SeptV 30," 1946 >mouhtfcd to $23,193,563, an increase of $2,273,394 over 1945. Net profit for the year 1946 amounted to $1,197,077 after provisicn of $1,145,000 for income taxes as compared with a profit of: $615,210 in theiprevious year after provision of $1,517,000 for income taxes. The tiet profit for the year amounted to $6.27 per share on the outstanding common stock. , De Vilbiss Co. 163;? + Cunningham Drur. Stores^Jnc.®-rAnnual ReporW ' profit Number of capital shrs. $79,986,OOS $68,896,829,; — ^ ' $3,864,000 /•Net 2,968,643 9,612,699?; deducting " reserve of-$19,T56,8"19'; in l946": and" $18,669,892 tAfter deducting U. S. Treasury tax notes of $4,611,000.-7-% £*35. always are ,, Davison Chemical Corp. i'? Quarter End. Sept. 30— °" Net sales tional — they possible. as , V 30,817 V/ $2,144,311 The Marshall Drug Co. operates a chain of retail stores corqing to market- due? (numbering 44 at Sept. 30, 1946) in and decontrol. around Livestock producers realized that OPA Cleveland, Ohio, and leases have Denver & Salt Lake* R|;* control prices were been signed for three additional Earhingsarbitrarily low, and anticipating stores. • The company the time of purchased twodecontrol both before June November— thirds of the common stock 30 1946 • and 1945 '•? of Marshall in Oct.; 14, withheld .:■:- 1944 their livestock from 1943; October, -1944, and the T Gross from market as they believed remaining one-third in December, 1945,. at. a total railway./ that on a free / $374,485 $270,247 ; $257,413 they would command market cost of $333,300. $124,368 < Net higher prices.? The new OPA from railway/.. At Nov. 21, ! 1946/Marshall had-5,868 shares of $100 par value 33,415 Price Control Act :•■■; 52,771 87,811. became effective: *58,954 5% pre¬ July 25, but was: not Net ry; opef. income..-* '• ferred stock applied to wholesale meats outstanding, none of which is owned by 46,372^ ,*••*' 95,948" Until Sept. 1, 72,674 *22,126 and to retail meats Cunningham/ until Sept; 10. ;//.All of-the common stock and 9,004 shares ? ; From January 1—.' ? Price, control was permanently eliminated Oct. (approximately 20%) of / the Gross 14, preferred stock oL The Schettler During thhe period of short from/railway-./-.?3 3,163,602; 3,137.570* 3,093,188 Drug- Co. "wete owned by; plies, our business was 2,501,469 "sup¬ Net fromCunning¬ ham at Sept. 30, .1946. ? practically at a standstill; as black At Sept. 30, 539,133 railway./././ .733,680 ' 635,783 1946, .Schettler operated 10 operators took nearly-all of the .' 487^57 market; drug Net ry.:oper.'income/.-* supplies at higher prices'than stores, /all in the Detroit* 664,809' 916;425-^ 7835,203 mate operators were Metropolitan/Area;- and an additibnal unit 1616,415' legiti¬ allowed to pay under will be opened for business the controlled within the next few months. ♦Deficit.—V, 164 ■ p. 2956. price plan.? During the periods of ? ' decontrol, the shipments of livestock to Because of the substantial minority interests increased to such an extent that market? represented by the our preferred stock'of The Marshall processing facilities were taxed" Drug Co. and The SchdttTer Drug Detroit &|Mackinac Ry.beyond capacity.', ' :■ Co., these two'retail subsidiaries Earoirigs—have been excluded from ;/'■ v -J';, consolidation/ ; ? November— :■> '■[*■ a EARNINGS AND In 1946, the 1946 r r1945 property inventory; and business of a -V1944 ■ DIVIDENDS—Net pfofit for the year was 1943 h wholly-owned cigaj; Gross -from; Kmountihg to ; 1.92% or- 1 92/100 -eentB $6,720,585, railway'—' company subsidiary were sold and the net $155,844 $107,872 -x" $93,444on each one. $75,648 gain was included in "the In the dollar of sales,'3 Net. from .railway//.?.? profit and loss for the /year 1946. The V - 71,804 preceding year; the net profit .was -38.774 to 25.087 / 5,554 cigar manufacturing business $2,505,097, amounting to Net' Try,; opef. income//-/ U.78%"' Or "73/100 centhad been entered hito : " 72,932 as ,a wartime .measure and / 17,647. 27,039 : for/Oach. one-dollai of sales.; 164 fulfilled Its purpose with-; the termination' of y /-From January-!*— *al« and profits^ of non-meat items,,, the proffi for the Eliminating the • the war;' t '• I year- amounted to less Drossfrom/raiMay-ii.-: 1,284,214 ;-At Sept/ -30, 1946, a' total;vol: 99 thaq ?/♦ "qent per pound'of 939,775 933.795 904,106 Cunningham' and' Shapero stores - ^et from livestock-purchased and less-than *h cent per pound of meats were in operation. -railway--?1 > • 383,812 One new?store baTs 153^517 137.026 sold, a profit which does not • 131438 been/qpenect slnOe; (ho 'close; olv materially the fiscal" year. -The SNeVry.'"opef.' i'ncbme__-v " 245,240 62,950 company has purchased two Ideations and 61,712 "35/470 ha$ —V. 164, p. 2956. to I 5,366,821 ■. 14,024,670? After- 1945. — * V SALES $7,741,361 ? position 2,500,000 i .;2,ooo,poo 10,000,000-V 15,427,137' ^ 3,295,685 124,985 "-surplus Total / v-r v'?/''' . $8,689,457 NOTE-—For mechanical reasons it ts not always possible to arrange companies in exact alphabetical order. However, $6,516,000 3,812,836 ::5,500^08 adjustmentsi;^-^-—-----(par $100)--— Capi'tal-':'SUrplUs';,;i_?i?^?;J^^?*-?*?i:*---'' 6%— 18, ; ::. •/ $7,293,043 189,618 ... $4,822,268" 3,456,561 r.^2,723',047 10,359,169 , 1739,034 14,000,000 14,000,000 banks post-war preferred stock ■; Earfied """ * quarterly. dividends of stock, par $100, payable $7,562,270 179,091 de- 996,339 — Compiott ••stock ('Opaii. ; $1,491,552 $14,964,277 $12,490,560 preferred 223,467 EARNINGS FOR* NINE" MONTHS'ENibED SEPTf —_ payable Reserve Cuban Atlantic Sugar Co.—Two Preferred Dividends The - directors have declared two regular each $8,465,983 ? . Net $1.25 ^ «■ $1,229,079; land $5,500), $49,500; reserves for possible future prices, $180,000; reserves fdr contingencies, $168;191; common stock; (par value $2.50 per share), $476,995;; capital •surplus, $492,562; earned surplus, $4,971,011; total, $9,663,794.—V. 163, p. 3130. including • / 1944 - '$2,268,929 (annual instalments decline in inventory $79,986,005 $68,896,829 — -ys. 4Vx'h in 1946—12 Mos.—1945 on or •After wages, interest and general (axes, etc.__ Reserves for Federal and other- income taxes_. First mtge. bonds, series B, 1964—— . Crown 1945 -■ 30 **'•". t ' $23,la3,563 $20,920,169 $20,43»;381 14,727,574 13,357,899 >13,145,337 withheld from employees, $425,920; dis¬ Maturities o^.,long-term debt™ '..payable '.--^-U^-v- Acerd. Continental Can Co., Inc.—Tp Lease New Plants: Pur-; chased hy Insurance.Concern.—See New York,Life In¬ surance Co. below.—V. 164, p. 3288r t ;-.j 1946 .-.profit-sharing plan, v $205,000; taxes, ? $189,122? dividend payable, $47,700; 11,947,301 22,947,368 259,795 21,197,879 216,634 — expense) L Accounts v ? V,' • consolidated—at.. Cost (undistributed net. earnings t-f approximately $434,000 since dates: Of ?acquisition have not been taken up), $457,825;/cash surrender value ?of insurance on lives of officers, $57,700; miscel.aneous notes, accounts, .and investments (less reserve of $6,139), $68,880; property, plant and equipment.; (aiter reserves for depreciation of $908,665), $2,021,506; .goodwill, $1;. prepaid taxes, insurance, rentals, and miscellaneous ex¬ penses, $186,784; total, $9,663,794. ' * v, 4 ' LIABILITIES—Trade accounts payable,?. $1,135,076; payrolls ' and amounts ' Nov. 2, 1946 Oct, 27, '45 AH>,545,497; $11,547,847 accounts. r Of " the ^ - $5.58 BALANCE : ; V doubtful less or equipment and deferred count five begin •- , class A prior pref. investments 467,489 y-.f $4.12 . ' "V reserve and Prepaid corporation i; ctmvair-240' to~ Trans-Australia " will ;164>: p,"2406." V ' .• « t on 3,190,061 33,781,435 Investments, on,. Jan. r : : Articles the authorized •8,528,117 Inventories Lester-Brain, Chairman ! Manager- respectively- of amend /./J"? 13,132,047 1,090,007 323,862 stock common Receivables, Trans-Austrailia '8viThe -40»passengec aircraft; designated Airlines,-an-f the Convair- v 240, >4vill. be used to speed up interstate rervice in. Australia, prlnc^Jally, • between such points as Canberra; Sydney, Melbourne, Brisbane, Adelaide, Hobartv fihd/penh*;'" :r*"" ^ wounceo the to CONSOLIDATED BALANCE SHEET, SEPT. 30; 1946 f; ASiSETS—Cash,, $1,951,778;r Ui S. Treasury; savings notes (at cost and accrued interest), $1,205,930; accounts receivable (less reservetof ,$12,500), $90,344; inventories—at lower of cost, 350,869 COMPARATIVE CONSOLIDATED . purchase this «• Income. Earnings per. comhuon ■ • Commonwealth ••»>; '■->/?' operating -Dividends 2,152,162 -745,092; 726,188 ing (par $30) Earnings, per common share CuRsetlidated Vultee 'Aircraft Corp—New' Contract^—r - -i.. -•'•?. Net. profit Other income ; V 613,522 income Shares ' 1946—Month—1S45194^12 Moft?--lii45 i -'$2,987,445 $31,629,722' $25,826,091 ■»' . .* 'V« expenses,- etcv Divs. ;44 1,954,236 : excess stockholders meeting annual profits tax beef, 16,634,107/ J:. - waa-^re- This leaves outstanding?.,The eliminate the preferred stock from •;J// •''-lxi '■ inc. tax and surtax.^. Federal excess profits tax,_. Postwar refund of excess 28,240,441 . Notes payable i (current -.w the $1,500,000. stock per share. / Net ; cents $3,231,369 +r-Vr at than preference INCOME STATEMENT, YEARS ENDED SEPT. Shapercf's, Inc., wholly-owned drug subsidiary) <e' ,S Other deductions Fed. normal pay¬ 1,902,488 1,510,366 • 'charges Prov. for inc. & , Sales ■ to *,:;' Total; u-_r 11,066,039 1,542,951* 11,539,324 1,608,300 more company;;-./- '-"(Incl. f a; 10,519,562 pension fund of prior stock opening of rtdw required: by hew fixtures general the Oct. 28, 22,683,127 and A Cost of goods sold S. r Oct. 27, '45 11,399,375 depreciation__i._?—^ than income taxesJ_t^4 Taxes other to 194,200,000 kwh., compared with 177,200,000 corresponding week of fast year, an increase of 9.6%.— i the Selling, advertising, warehouse, livery, administrative and 349,901,504 344,909,594 419,618,928 316,846,868 322,226,467 391,378,48T for Contrlb. to employees' amounted Dec. 31-* class common Net. sales LIABIlitlES— f'FeWod( End. being Incorporation I 11%. ACCOUNT Nov.*2, conditions''permit. two or support COMPARATIVE and Provision Consolidated Retail * outstanding 6% with only asked to vote Other . various on as July 1, 1946, at the call, price of $105 ? 1946 previous Income from soon .• com¬ The farm previous The sale Selling; advertising,', genetal "and. administrative expeuses^^?^_I?_U ■//"/■£ ? on company '; 1945. the Sattie Creek,-Mich., in one as- CONSOLIDATED ,,S . Dec. on made were year-end extra dividend dividend just sold was ? company on Jan: 8 amiouncSd that System output of electricity telectricity generated and purchased) for the week ended Jan. 5, "1947, amounted to 209,700,000 kwh., compared With 184,400,000 kwh. for the corresponding week of 1946, an increase of 13.7%. Local distribution of for Act have ever 1945;, Cash electricity year's inventory 1945—an ' increase farmers 1944 Years Ended-- Net Consolidated Edison Co; ot New York; Inc.—Output— The kwh. this wbich in Cost of sales and oper.; expenses.. 15, 1947, to holders of record Dec. 31. 1946. A similar year-end extra distribution was made on Jan. 15, last year. •< The directors also declared a dividend of 30 cents per share on the stock, payable March 1, next, to holders of record Dec. 1946—V. 162, p. -2070. 31, . of $850,000,000, which included dairy production' subsidies, and iamb producers subsidies, subsidies and price common " 25% 1 M semi-annual be .opened — ** participating first preferred stock, both payable Jan. ? in . Corp.-^-Weekly Output^output " bt electric directors declared" made vegetables, .fruits, oilseeds, etc.? payments under Sugar Act, conservation payments, and premium payments under the emergency grain -purchase plan. ■ 24," last^ "the been will expenditure the capital of the. ■ Dec. largest were than ments Community Frosted Food Co.—Year-End Dividend— On has sheep 4 Sonthchi The ' weekly reduction year, and exceeds the previous record year meat animals accounts for 27% of the 1946 income and the income from the livestock and the products of live¬ stock for $13,100,000,000 or 55% of the total farm income. Included in the total income are government payments to farmers estimated kildwatt "hour energy-, ofsubsidiaries of this corporation, adjusted to show general business conditions of territory served, i for the week ended Jan. 2, 1947, amounted to 273,108,809 as compared with 230,168,499 for the corresponding week in 1946, an increase or 42,94CI,310; or 18.66%.—V. 165, p. 70. :v. Approximately :?-?/ Commonwealth f of as at the 1943.' at ended is , ; - p. during reduced.- $21,500,000,000 years mere 1945 % Inc. 182,767,000 12.4 V 199,402,000' 181,199,000 10.0 224,480,000 204,790,000' 9.6, 214,968,000 200,033,000 1 7.5 : . Dec. —v, week 2 with income 205,501,000 = Dec. : *■ techniques are / of sales high week last year. four weeks and per¬ past as the •^v-/-*//:/ bacon, formerly requiring 35 days or more and ready for smoking in seven daysV material's used for the manufacture corresponding sale, of meat 1946 __ Dac.«" 28— the .-•'.* / L?/.: the been Nov. pared corresponding Following are the kwh. output totals centage comparisons with last year; Jan. for improved of ,deemed products • cure - farm Co.—Weekly Output-^ electric of , the Commonwealth Edison group of companies, other amount year 1945 and through Dec. 31 have reviewed by, the Chicago Quartermaster Price Adjustment Office, ito refund Of pi of its1 was due the government. FARM INCOME-—The UV S. Department of Agriculture recently estimated the cash 70. p. chough the V vf All » Been of 165, that year. OPA and ;/ below.—V. cured to such adequate. . See hams and are. now increase in an previous subject to renegotiation Government during the fiscal to ' Corp. Subsidiaries Merge— . note risk All to its subsidiary, Corp., for the purpose of enabling Virginia 1 Jto meet: obligations * incurred in connection with its construction pro¬ gram./; -?:/.//>/?//■ . * ' • the stores stores, and for addiitional inventories ;and improved stores call for an largely price of locations in Detroit And plans, Subject; to, availability of,; material,.and gpvemmental restrictions, for the construction of buildings (four in. number), mod¬ ernization and rehabilitation of present, stores, the at the end of the year was $33,780,000 an increase of £7%, due removal new five -Present ; ?/?,,?.* ■;'? year; RENEGOTIATION—The Renegotiation . the prevlpus a to required also be as 30; 1946, charges, equal quarter of l946.r~Vf 164, p. 1716.; Columbia Gas & Electric Corp.?-Ad vance to Subsid-r— make extent the the current market prices. Due to the very heavy live¬ stock- receipts after -meat controls were -eliminated' in midiOctober, coupled with a shortage of labor and shipping supplies, Jt was im¬ possible to make shipments of this product until later in that month. $1.74 Nov. - \' The SEC on on lease where ■/ share of inventory declines because of the more" rapid turnover product.'./:/ \ A reserve of $3,500,000 has been provided out of this year's income for possible future inventory price declines. This amount' is believed $2.07 a share in the quarter ended Aug. 31. ^ : ' Consolidated sales for the final quarter totalled $9,850,000 compared ivith $7,184,633 in - ".interesting sausage, 1945. under of 570,300 " 378,609 net lesser a last in by-product prices after the dry sausage such the •: 1945' $8.62 for-the This k 1946 '■ to $4.12 205 consuming bologna, frankfurts and luncheon meats, etc., salami, genoa, etc.,-and many other products -Through these now and quicker curing processes,; the palatability of all cured meats has been. improved, ? and at the same time a and • ** — -3,263,900 —— and compared with time .has, —I $29,504,000 $13,470,000 / Net the . • : • hy paid //, compared with $22,948,000 process fresh 386,495 3140. p. is The price per as past years, to . Colonial Mills Ino^Earnings—. Year Ended Nov 30—; : It the / and stock hand on the nor, deducting $450,000 dividends; the yearly requirement stock.' profits-amounted to $12.19 higher meat ceilings and to ' livestock preferred to production- for/ the 'four / weeks 361,972 barrels, which compares with for the five; weeks ended Dec. 2, 1946, barrels for the four Weeks ended Oct. 28, 1946.—V. of ./''/'v.?:.■■ INVENTORIES—The Inventory . sale of price meat. compared $1,439,132 r $2.31 . Colon' Development Co., Ltd.—Production— 461,991 ! 1,027,000 Tiie: company- ' announces1 that' its w After common 34,023 1,400,500 the ,4V2% 400,000 $3,330,295 ' j $5.82 —™ „ ; 1944 $2,927,574 — 427,419 2,187,000 •. _ affect public, for $4,450,944 -----387,516 52,795 *$5,947,050 Provision for —t™-;400,591 pension..^;-/.?.™™.::?1 29,164 Provision for' recon., 'etc,™.™.™ ;' __/__/ Fed. and State COMMERCIAli* & MlSAKClAli^ttfeONidiCE • . " • ■ Net railway from railway from Net ry. 161,813 66,467 $856,441 317,989 •- 197,397 204,072 income— 1-— < y " railway oper. Earned 198,419 9,019,700 railway—-—;/ 2,967,675 Net from Net ry. —V. income—-1// 1,678,339 1,345,332 oper. 164, Federal ' //•/'////••'•'? :1946 •/ 1945 .'■-,—$319,025 $6,799,622 —■;—J— * 93,039 5,457,520 . Quartern 12 Mos. sx Ended .1 > profit TSarned per share on 42,259 " ■^Earnings 1945 V : /• 1944 Net sales— I it* $3,395,741 $3,125,027 $1,853,233 ♦Net income———— 246,89 9 222,223 .J;, 96,559 Number of common shares p- 1848,964 * J 403,430 1393,428 '■Named 'per share—:$0.29' $0.55 * $0.24 ♦After Federal Income and excess profits taxes, etc. fGiving effect ///v//.-'' ■ 1946 Sales - —_ , Against . — 889,076 ,' plant. plant <128,341 —— "*< \ '■ > t > Period «3ales —V. t 164, p. 3289. i share. Greenburg a obtained warrants for the purchase of these shares in January, 1944. His decision to give up possible realization of about $460,000 in capital appreciation was contained in a letter to com¬ pany's board of directors. The letter said. "1 feel that the interests of both the corporation and the Siolders best will be served by the maintenance ef prevailing equity Mr. and by the elimination of the possibility of and his wife own at the present Greenburg Mr. earnings dilution;" time about 23% of 164, p. 3141. " Dispensers, Inc., Brooklyn, N. Y. — Securities Placed Privately—Carl M. Loeb, Rlioades & Co. and Roberts & Co., in December placed privately $100,000 5-year 4% ..sinking fund debentures, due 1951; $100,000 7y:>-year 4% sinking fund debentures, due 1954; 10,000 shares'($9.50 Eastern Utilities Associates Period End, Nov. Operating 5% cumulative preferred 30,000 shares (150 par) and options for purchase of 25,000 shares of common, exercisable one year after I present offering. Prices, $1,000 per debenture, $9.50 a preferred share, 15 cents a common share and one cent an option. Proceeds will be used for working capital.-—VY 164, p. 3289. .par) Maintenance .185,574 Net operating revs.»« • $164,983 l^on-pper,. inc. (net)^^ 34>685 / $199,668 $264,908 accruals 61,879 61,800 2-Cent Dividend— Balance and Aug. I, 2 cents each; and • ^ income./ Gross •yv.iv■;.; It was announced-on Jan. 2 that there were more dividend- shares* -outstanding; on Dec. 31,<1946 than at any previous month end in the* 14-year history of the company,. .They were owned by oven 38,000 in¬ vestors.—V. 164, p. 146. , » . , • y fn amortization & Interest 10 /' B. V.„ : , .. ■ , . 9 Months before Balance Net . 768,000 V 700,000 shares of capital Named per . share : , „ /■ , , , - ■,■$1.27 $1.73, income ; .after charges -4 ;* ; -——■Federal' income■; ■. 1,738,770. ' 712.725 shares ,then ' * represents the portion of total reconversion -expenses for this period of $517,336, equal to the reduction in Federal taxes on income by reason of being deductible for tax purposes. The balance of $314,545 was charged against the reserve for contingencies previously provided.—V. 163, p. 2155. charge ,v;" 5, 1946 t—-V. per - • - - . - ' Douglas Aircraft Co., Inc.—Earnings— - - f ' ; and gales Carry-back Provision 1,54~6~Q0Q Earned per —V. —^ —_JL——- $3,154,142 share on 600,000 shares capital stk. • »- - ■ $5.26 profit 163, p. 1156.- < from railway^.-.. $3,282,518 Net from railway..'—__ 1,391,082 Net ry. oper. income 713,598 From January 1—; ' „ Gross from railway/,-. 33,178,513 Gross • . Net from Net ry. —V. . railway—;— ; 2956.' : / " • November— _ r 1946 - $294,477 61,394 33,160 39,298 ,15,408 Net ry. From January 1— . from from - $361,764 97,509 - 71,524 — * railway—. 3,863,489. railway—342,646 Net ry, oper. income—. .11,124 —V. 164, p. 2956. — • Net 1944 1945 $387,049. from Gross „ railway—- railway— oper. income— from Net i '•:. «,r • * • T 's "* s-;':,,*"'' A; - Inc.—Weekly Input— 2, 1947 the System inputs Services Inc., Light Co., *l \ -j ,. 3.834,290 3,975,642 719,525 — 913,103 480,846- 647,345 1 7,054 160,402 $10,225,725? / 46,12* 1,360 38,792 .V, .26,948 ; 530,365 503,550 312,234 538 1,452,022 Cr27,000 516,000 129,268 .. ';•/ " deducts, from ———, / 164,000 Net- income i $7,955,734: $2,366,728 $12,329,Q2Q ' ' $2,745,016 259,500? - Eiectrolux" Corp. (& Subs.)-—Earnings— 1943 / Sept. 30— 1946 * 1945" '1944' $133,474 T $2,184,329 $730,996 $314,659 $0.1^ V JEarnings per share-—: $1.73 ,$Q.59 ' $0.25 —Y . ♦After "Federal income taxes/ tOn 1,237,500 shares of con)mqn:stqck. % Net profit after providing for Federal income tax for the three months ended Sept. 30, 1946 was $847,514 or 68 cents per share com-' pared with $213,053 or 17 cents per share for the third quarter of 1945.—V. 164, p. 2543. ;'/"v ' ■'. ^ '' • ' ' ' ' ' " Empire District Electric Co.—Earnings— 9 Mos. End. "o the yS 1946 & Light , 1945 Pec. 31—* . ; 1943 $352,508 112,253 89 848 •• * . * " 4,031 338 1324 976 1,054,889 361,903 106,672 . income Net - ——' share on 350,000 common Earned* per ' ' . . 4 --/ .• •-/'■■ /:/ // .: ; ^ ' , / \ ' ' Equitable Office Building ■v . .- / t . - - ' ' ' /• Corp^—Huling Reversed— Court' of Appeals an Jan. 2 ruled that the reorganizatiop plan for.this be offered,in , Circuit Court The had which Pet, denied plan had been < • offer plan to pay¬ made an offer Equitable. original plan lest July, will Oct, 17» 1946$ the opportunity now to come forward and a debts. The City Investing Co. on July 11, 1946, which" provided for payment in full of all creditors of If no amended plan is offered, it is believed that the of reorganization ordered consummated by Judge Knox become effective./The City Investing Go's offer expired has off the —V. 1946—Month—1945 ; $7,240,613 , can . '■»>" reversed an order of Federal Judge John C. Kno^* stockholders the right of amendment because the confirmed in his Court. The Circuit Court ruling /?ras . that the confirmation order was not a final decree. According to the Circuit Court ruling, any responsible underwriter kilowatt-hours):. Inc.*—December Sales Up 31.7 %T~ , 1946—12 Mos.—1945 ; $5,496,240 $65,673,0;$ $53,215444 States Circuit ;The' United amendments .still corporation, ■■■" —-----,$255,235 shares $0.59 ; , ,_ Amount 360,206? — ——-—.———._ —V. 164, p. 681... Vr nt client oper/ * $1,548,3261 —— v— • Interest/amortization, etc; '/■■■/Inorease:'»"'4;: 170,325 Ended Sept. 30, 1946 Quarter — Total income. ■ which are subsidiaries of Corp. and of 199,824 49,855 Co Light Corp.__._ National Power Si Light Co. Power Power & -operating revenues Net ■.; compared with the correspond¬ as'follows (in thousands of for Earnings Gross operating revenues Electric Power . & Eight Power & Light Co., as 164, p. 3142. * T // Offered—*, Equity : Corp.—-Subscription and Exchange corporation -is offering' to each of the holders of its common $3 "convertible preferred stock of record Dec. 31. thQs, right,, nontransferable, to buy at $50, 1 unit consisting of 10 shares* of Equity new preferred and IVa shares of Equity common. To eacli ' : /;>'/' ;</' k The stock, and. its ^ : Duiuth South Shore & Atlantic Ry.—Earnings— Gross - ~ 1943 V " t; ♦Net profit 9 Mos. End. Sept. 30— / : 1946 '* 31945 ' '» : 1944 ; ?" . 1943 •Net earnings T$2,249,528 $4,041,703 $3,721,901, $3,754,076 $1,631,516 $2,199,541',' $3,570,231.3 Earnings per share-__i M, $1.50 $3.38 $3.11 $3.14 203,783 " 728,141 1,526 814 ♦After .charges and Federal taxes. /Includes $1,865,063 175,929 "" 380,379 531,118 - "tax credit.—V. 165, p. 72. ' //■/;/'•' ti *' ~ ■;T':.■ •>,>■';:> ::U;1 38,945,786 40,343,082 41,013,779 Electric Bond & Share Co.—Rights-r. > . 20,379,185" 21,600.563 23,620,190 11,208,593' 11,693,675 8,776,688 Holders of the common stock of record at the close of business on Jan, 17, will be entitled to rights to purchase/the common- stocks -;v " •;*_ /t.. " ^ %. :* •; "j, 1944 , 11,085,141 periods whether; /") $2,816,351 $13,404,231 5,204:- ^ income ♦ ' . . .. '—V. 164, p. 3142. r • '. ' / ' " 4 ' ife'SCrv-/// " / ■■'//": *•'". > >: ■ Electric Auto-Lite Co. (& Subs»)'—Earnings— ■; holder of not more hclder . of not more than 35 shares of Equity common than 3V% shares of old preferred and to eaclxr stock will ber-<:./ the right to buy 1 unit.. Holders of over these numbers of shares* carry-back buy 1 unit, for each 35 shares, of Equity common and l unit Iok each 3 J/a shares of old preferred stock held by them. The, aggregate ->.■<('•;■/://.-''///:■•■>■ offer * is limited to 165,033 units, v. vf ' / / .><■' ' /;)' /:/ All subscription rights will expire at 12 o'clock nQon (EST), on Jan^- , r/?4;-, /:' exchange .offers .://;;/;/• '//XW/:.:.-t// Coincident with the making "of; the. subscription offer, Equity Isf pf. the American Gas & Electric Co. and the Pennsylvania Power* Light Co.,; subsidiaries of Electric Bond & Share Co./which are Offering to holders Of its: old preferred, stock, tha opportunity of: / being divested by the latter company. .yf. tendering their old preferred stock .(including all rights appurtenant; The rights will entitle the holders to subscribe, to . 16/100ths or j thereto) for exchange under the following alternative exchange offers, called for convenience the "stock offer," the "cash offer" and th&i p share of American and '/ath. of e share of Pennsylvania common, - 8,899,786 p. Sales ' 15,546,751 income— oper. 164, $8 20 Ry.—Earnings 1945 1946 . $4,921,000 ^ . Duiuth Missabe & Iron Range November— >' & Power Period End. . Net # 'Edison Bros. Stores, tax for \ -*»■*. ALON^S 248/>ft:r]Cr3,067, > Frov.r for Fed. Taxes on/ 29,499 17.3 44,210 . 5,645' 12.$ Former (02,888 .. 90,614 ; 0 12,274 13.5 The above figures do not Include the System .inputs of any companies not appearing in both periods.—V. 165, p. 71. ■■/ ' Electric ■•3,454.142 ; ' 23,212,000 taxes--.—1,200,000 16,745,000 credit.ll..— i-—900,000 contingencies 1 % Provision for /' \ ' American .,1946 ' 1 17,730,526 • 259,500 .. than other taxes income Fund—Net Assets Lower—•" Operating Subsidiaries of— , - . (est.)- income Net 31— / 2,148,056 / applicable to respective ; Expenses Int., etc., $1,514,006 ...... ing week during 1945 Were 1945 * billings, ^-i—l—,r. $84,449,609 $642,514,000- 9 Months Ended Aug. •• r former National . - * f< American "^ v • t * • / For' the week endSd. Jan. ating companies of Ebasco —_——412,704 _1—■ _ $1 34 and taxes share. common 161, p. 766. 516,000 $3,043,736 income Other Stock Fund—Net Assets Off— This Fund has reported net" assets at Dec/ 21,: 1946 <rf '$1,067,7381, equivalent to $15.74 a share on 105,964 outstanding shares, as com¬ pared with $1,479,303 a year ago, equivalent to $16.59 a share on the 89,157 shares then outstanding.—V. 164, p. 2407; , l' , * « .V v- _1„$21,967,194 Net profit after charges Named Cr27,000 *>;- 3,798,886 —. "Fed/ taxes 160,032 $1,695,932 surplus equivalent to $26.60 a share on outstanding.-r-V. 164, p. 2407. Ebasco Services ,EARNINGS FOR 29 WEEKS ENDED .OCT.. Total Eaton & Howard r " ■: sales-—— Net " • V1--- Dominion Stores, Ltd.—Earnings— ; 26,948 530,365 —— 201,38$ pared with $18,960,184 a year ago, ■ profit.—$3,126,485 shares_^__________ $3.00 special 7,054 160402 ' ■ < - reported net assets at pec. 31, 1Q46 of $25,831,497, equivalent to $25.45 a share on 1,015,128 outstanding shares, as com¬ Earnings per share on 1,042,644 •This 16,124 38,792 503,550" ■" "Period End. Nov. 30— '" 1945—3 Mos.—1945 ' 1946-^-12 Mos.—1945 \ Gross inc.—From subs. ; * . : consolidated $3,042,284 $2,812,413 $13,398,213 $10,208,93ft> Other ——/ J1452 3,938 6,018 T$»78|. , ~ Eaton & Howard Balanced - Net 1,360 Cr3,067 INCOME OF COMPANY - „ .This Fund has V charge«_i—202,791 ♦Special reconversion X3,355435) v * /■ •"•'■! "' $30,591,610 - , 5,068,046 JNet 18.805,737 . $1,674,037 -160,971 —V. 165, p. 71. —/ ; - 2,597,679 —V. 165, p. 72. .236,241 / r available for dividends and -Balance ENDED S£PT/30,' 1946 EARNINGS FOR NINE MONTHS . sales-AL-—— Net income taxes and interest- Expenses, Doehler-Jarvis Corp.—Earnings— X.; • 13,338,348: 18,799,719 '"tjf ■$£472,652. $1,856,003 Non-subsidiary 798,371: U ;i'J -:™.. •Full' dividend requirements earned or. unearned. $1,472,652 $1,619,762 981,380 2,593,741 3,938 164,000 * 22,578 l$l;619;762 700,000 1026..,:,*.;,Yv.-v. ■;1 ///." /-•/■ ■' .////'//■ //''/-'■ ■■• '>'- ■■• ■ - /. ~^v, 163, p, ■ $1,495,230 23,654 '/ 1,603,786 13,338,348 18,799,719 16,781 6,018j 5,204 surplus—-;; Balance, - \ *■ 4a9,26$/ i'V.;';.;1'/:'.>■? '</•■'■ <% 77,652 . $886,000 - 'y ■■ 248 . --i.;--/;-;-; Federal1 taxes" income—--—i-i on .• ■ % Associates: Utilities Eastern 849,000 < • $1,643,416 — —— ,1945" $1,211,000 /—„„_— profit Number —_il.— Jtacome— Taxes, on •' ProV. for. / - $1,735?000 $1,979,000 taxes — $2,027,398 77,652 G. & E. Co.--. Applicable to minority interest > Pepper Co. (& Profit '• taxes—— Expenses - $^^ll068'>$i,6J2,88£ ^$166,970/ V.//,. deductions: dividend Preferred . - Subs.)—Earnings— Ended Sept. 30—• ' 1946. income «. $103f^2' Balance; ■ 1-4 225 Ur341.88» 16,352,223: 2,215,504 • 2,593,741 4,096,154 other, than taxes Fed; 420,987 ; ' 435,647 19,673. ► 18,870 35,913 i 34,657 dediics— Miscellaneous Oct., 25*.. 7,751,004 l/X XX •■• — , $203,108 / $2,161,728 .$137,789 € cents.— Dr. ' $2,764,623 : 737,225 $2,903,723 " 741,995 /v ; - Jpr28,789 148.877 -V if—*> 320,581 366,711 '.-■< equity of corp. in inc.. of >subs..vCops. / i $237;714 V $£537,012 T $2,444,042 27tl94 : 24,445,10? 21,384,885 : 3,177,641' 435.023 180,861 . share, of record Jan. 15. Payments last year follows! Feb. 1, May 1 as Retire/ reserve quarterly dividend of 2 cents per a 1 to stockholders payable Feb. were declared (incl. ; Electric Pow« & Lt. Corf v; 4,096,154 Net equity;(a& above)— 1,452 Other income-—-——. v/'t///,:':;' 4,097,606 Total 7,749,770 6,810,028 557,890 " 653,233 1,930,351 / 1,894,876 / 4,677,402 400,387 • / . / ; directors have ! inc. taxes) Taxes ■ The 601,611 48,728 144,527 44,232 ; ^ public- to mlinterests to applic. Not -. * *(& Suhs.)-—Earnirigs— $1,123,800 729,011 • 6,810,270 1,807,636 - BrlQ4,566 ;■ dlvs. -nority 1946-i-Month—1945 ',1946-^12 Mos.—1945 r, $1,032,580 $12,775,024 $11,802,279 , Operation.- common, Dividend Shares, Inc.—Declares 3ff—' revenues 23,872,195 572,914 •5,089,843> 28,223,944 6,406,375 1,728,973 ; Balance •Pfd. Other / • 580,531 449 franchise to reserves Portion value common , stock.—V. i65i p. 71. par 24,217,19J5 345,000 346,882 ' common; . . rj , , .* ,s /,; . « /,-•* . . • - ,, The Association's outstanding 4 V?. % prior ipreferenccr stock will not be affected by the recapitalization plan. Under the amended plan", the Association will have 2,500,080. authorized shares of the^^ new $10 new ; 18,383,017. 19,664,54? 5,089,394 "27,643,413 26,388 • " ;■■■' *• ■ shares outstanding.—V. company's 862,856 common the 235,545 86,250 - 6,379,987: (net)—— income-—---; to public Transfers >• < , outstanding common. . The plan as originally filed provided for a distribution/of 85%" of the new $10 par value common'to the 6% preferred and 15% to the Old common. As now amended, holders of the 6%- preferred stock, of which 374,138 shares are outstanding, will receive 79.01% , or 1,870,690 shares, of the new conmion, and holders of the outstanding 1,988,400 shares of old common will receive 20.99% ; or 497,TOO shares, of the stock-'$ X * and other deducts*.*s.-. plan and stock the .values Plaii Associatesh^Files Amended |iled Jan: 6 with the SEC a number of "amendihents of recapitalization. ;v ; . . , r, 3> r The major change made was In the' allocation/ of the company's' new common stock as between the holders of outstanding 6% preferred The company the ; X\ interest Net ■ Eastern Gas & Fuel 12,019,884 4,592,912 •• ; 88,245 plants income income Gross « *. * to vWmf't*•' _; ;;:f : President Declines to Exercise Stock Option— Harry Greenburg, President, on Jan. 8 announced he has decided .not to purchase 80,000 shares ;Of the company's common stock at $1.75 a share, compared to the present market value of about $7.50 lease of Operating Other $1.29 ^ 24,945,432 6,468,232 ;-.5,175,644' 27,990,295 ieyenups-iv oper. Rent for 8A63.905 . $758,461 586,951 $1,375,164 *>$721,684, 597,033 590,194 ' $2.31 $1,22' $1.21 share—' per • * , 2,395,572 outstanding Earnings \ "• —$2,901,577 and-taxes - Shares /' 1943 1944 1945 1948 Sept". 30— after charges Net profit SALES FOB MONTH AND FIRST 5 MONTHS . , ' End. Dec. 31—/'/ 1946—Month—1945 vC? 1946—5 Mos.U-1945 $1,513,858 $1,740,951 $6,038,757 $6,045,986 \ ; " _ stock split-up. two-for-one the to Net Inc.—Earnings— Eastern Air Lines, 9 MoS. End. 64,668 / acquisition adjusta.-Prop.retirement and j: depletion reserve ap¬ / propriations and depr. * , «,uui/tyyv .- ■; for the nine months ended Aug. 31/. 1946 were $28,497,663, $31,210,030 the first nine months of 1945.—V. 164,: p. 1868. ^ . »« s ,, 10,976,268 - f 2,836,622 taxes utility of Amort, taxes. of lieu in Chgs. 2,566,208 if} taxes---— Other 3,220,718 taxes;/;-—— Federal $1.25$1.24 tAfter book $0.38 $0.24 share— per 889,076 889,076 889,076 •After charges and Federal and State income loss of $113,354 on sale of company's Cincinnati , Quarter Ended Oct. 31— Operation . » $ rr $ ■'1 127,636,327 139,010,131 "• 49,993,737 49,379,217 1 " 8,593,559 8,669,601 $ $ 31,474,401' 30,904,111 12,867,129 12,212,294 2,133,699 2,159,105 3,952,940 ! Maintenance f, 1946—9 Mos—1945 / $338,845 t$lt113,602 $1,105,941 t!t215,065 4-.'" revenues availability of. gasoline ■ use of ^ Subs.)-^Earnings—■ 1946—3 Mos.—1945 • 1946—12 Mos.—1945 1 / 30— Subsidiaries—; Operating J946—3 Mos.—1945 outstanding-- Shares (& Subs.)—Earnings— Diana Stores Corp. Period End. Nov, ■ Eagle-Picher Co.—Earnings—- Period End. Aug. 31— /■■♦Net profit : — v.. \ Light Corp. (& Electric Power & ' "v'/•■',/ 1945.—V. 164, p. 1591. / third quarter of 'following 2195. Net '•Kv' traffic was held due to the greater and the'first full year of - the unrestricted wartime rationing.—V., 155, p. 636, increased The automobiles v - Federal income taxes.—V. 159, p. ♦After charges and 125th corporation, "has. reported that in 1946 its line between Manhattan, N. Y., and Fort Lee, N. J. carried 1,434,673 motor '.vehicles as compared with 1,141,660 in 1945. In the same period the Jine carried 2,814,723 foot passengers as compared with 2,779,882. ; Street — .. ( The ■K , $225,986 $1,342,102 shares—$0.54 ' / $3.18 For the quarter ended Sept. 30, 1946, net profit was $264,241, or 63 cents per share, compared with $263,029, or 62 cents per share for the *.' • • ; ' \ Inc.—Traffic Increases— Electrip Ferries, taxes "(1946, $32,750, Ended ; Period— ; < •; V' ' Sep. 30/46 Sep. 30,'46 Sales and miscellaneous revenud-.—^«-.-^;^./->; $738,l9l;: $3,564,382 •Net income_v--i—/ r-iV ,255,746 1,149,516 "Number of capital shares—. 500,000. 500,000 Earned per• share— • $0.51 • . : $2.30 v —; taxes after they arc . , Car Co.—Earnings— 9 Months Ended Sept.30— Profit after charges 164, p. 3412. ' •j Diamond T Motor provisions for Federal and charges Duval-Texas .Sulphur Co,—Earnings— ; 2956. p. all 1945, $25,000).—V. 8,567,563 3,912,176 2,288,745 8,241,356 3,183,403 1,904,088 7,745,345 2,556,294 frdtn Gross share——$0.26 per •After From January further notice must be rights. The rights will issued.—V. 165, p. 72. - r/- ? for bills 33,967 S0.15 stock delivered accompanied by due expire eighteen days -- - • ' " r 4v certificates for the and. that all Jan. 17 and until the subscription after 1945 • 1 ! >$599,049 3 Months Ended Oct. 31— 1943 $726,733 318,664 1944 $713,481 272,823 1945 $625,273 1946 November— Gross Duro Test Corp.—Earnings— *' ' 4< 1946 Net sales —$906,114 '•Net profit I——L_—' >' 57,864 ; — notice further until RR.—Earnings Detroit Toledo & Ironton 13, 194? Monday, January FINANCIAL CHRONICLE THE COMMERCIAL & 206 ./ given may , - , , & v ifpr each share of Electric Bond & Share Co. common held..).. y The subscription prices will be determined shortly before the offer-* ing is made and are to be $7 a share pelow the/market" price iot. American and $31/a, a share below the market/.for - Pennsylvania.1 : The Committee on Security Rulings of the New York Curb'Exchange has ruled that Bond and Share common be not quoted "ex rights" . privilege": ;• . alternative exchange ^offers are ;,pn preferred stock for m(A) The Stock Offer: 10 shares of new "contingent ; The Equity common stock the basis, of 1 share, of oldt preferred and 1W>shares or (having under-the subscription offer;» unit , Volume price of 165 $50) having,an Number 4559 plus^ 1% shares of THE COMMERCIAL & FINANCIAL CHRONICLE American General Carp.--common aggregate Eversharp, Inc. (& Subs.)—Earnings—• * 9 Months Ended Nov. 30— /.'"/V//• ■ (B) able The cash General Corp. common" the an (C) an per shares 1946 outstanding— 1940. / - 1945 /, "///'■: CAPITALIZATION- SEPT. 24. 1946 ■' '-'•'/••■ Authorized 4'% cumulative pref. stock (par $100)_ 30,000 shs. Common stock (par 25c) ">1,620,000 shs. 339;117' common RaZof effect Co. and ' i tAfter? taxes; of $7 equal ''to accumulated unpaid dividends' of $4.50 and / premium of $2.50 per share on 1 share of the, old This offer expires,at 12 noon (EST) on Jan.. 31, 1947. i'1 Export Executive Named / An expanded The poration Contingent Privilege (optional only to; stockholders sccepting the cash offer if they desire American General stocks so far ash?! foreign with the and reserves, i / in New Sales. Move— trade program has been launched appointment of Louis J. Skinitzero f/v/500,000 ^ , cor¬ ; to , Outstanding 21,270 sh;i» ' reserved for issuance in connection issued and outstanding common stock of Subscription Vice-President as . 252,580 shts_ shares chase of the Inc., and 867,420 •» ' by this ' typcv - share__^_,^._-.—$4.90 / $3.77 complete" absorption" of the Magazine Repeating../. jhcludes $786,282enet profit- from^ razor business. ' » i,;: to preferred -dividends as.a non-diversified investment company of the closed-end having become subject to that Act on or after April 30, 1946. $1,278,128 ,. /Gives aggregate market, price on the hew of business on Dec. 26, 1946 the'close amount redemption preferred stock). ; having at of common Earnings • *$4,503,762 918,746 ;. : earnings Number 17, 1947./ Offer (subject to allotment to the extent that avail¬ not, sufficient)! $50 in cash plus 2 shares of American York'Curb Exchange <b,eing tNet • Cash is 201 * market price on the New York Curb Exchange1' at ,the close oi business on Dec. 26, 1946 of $4.81 (being an amount *V, in-excess of accumulated unpaid dividends of $4.50 on 1 share of //old preferred stock. Offer,■ expires at 12 noon-(EST) on Jan. shares reserved for '• warrants. issuance On May 1, 1946, the certificate of the Fiscal pur¬ CounsoV exercise upon of ,/,..* ; ,, with tfcw ' / , , incorporation amended was so as increase the authorized number of shares of class A common stocit, by Larry from 240,000 cash is unavailable for shares to all tenders under the cash Robbing/ Senior/yice-President and General Sales 1,500,000 shares and so as to change tha offer); 1 share .of/ Manager. Mr. class A common stock of the American General Skinitzero, wgs Vice-President in corporation from no par to 25c pam¬ Corp. $2^preferred (callable at $52.50) plus 1%. charge of "sales for Eversharp Interna-, per! share. On Sept. 24, 1946,, tho certificate sifar.es- of American General common of having an aggregate market price*.* tional, a subsidiary 'corporation, since 1944. vi'.: incorporation wi :v dn the New'.York Curb .\.) further amended'to effect the following changes in the Classes'and /•/"During the last (wo years, we have made steady gains in the Exchange at thd elose of business on Dec. 26, >'■ /'. trade field," ,Mr. foreign v amounts of securities which the 1946 of $4.81 (being, an amount In excess of accumulated ;unpaid? Robbins said, "and the goal corporation is authorized to issuo: of our new program is to ' (1) each share of 4S9 give Eversharp the / dividends ;t>f <,$4.50 .Qn 1 share of, old preferred stock). This'offer non-cumulative preferred stock (par same-leadership- and prestige in world markets that $100) wa& changed to one share of 4% cumulative it now holds in expires at 12 noon (EST) on the domestic field. preferred stock (par $I0d); and Jan* 31, 1947, There is a heavy demand abroad" (2) each share of Class A common for American stock (par 25c), and each sharoAll tenders of' old writing instruments, especially iji >preferred stock - under the -stock- offer will' be Europe, South America, • of Class B comrhon Africa and the Far East. stock (par 25c) was We are accepted regardless' of changed to one share of allocating a portion of our in- : common stock subscriptions 1 under the subscription; - offer or creased production to meet that, (par 25c)," r; tenders under the cash oifer -/-J 1 • " demand and to establish a substantial »'""■! " or the contingent privilege. - Acceptances',; export market for the future."—V. BUSINESS cf the stock offer will HISTORY—The originally 165,. p. 72. correspondingly reduce-the number of shares contemplated primary pur-" /;/•■/v// )/•'•/■/ of new preferred and poses, of • the corporation were the. Equity common available for subscription under carrying on of a business advisory service the subscription oifer. F$bron (Corp., New .York—Stocks principally relating to business problems of North American, The cash offer will be subject to allotment in Offered—^^Gillen «&. case the available cash companies doing business or of Equity desiring to do business in South America/ (principally the proceeds of the sale Co., on Jan. 8 offered.40,000 shares of convertible and the of the new preferred) class A financing of business ventures and enterprises connected with, is, in the judgment of rile board of directors/ stock (par $2.45) and 40,000 shares of common ;stock trade and business in and of Equity, not sufficient to with South American countries. permit the acceptance of all tenders under / the cash offer, (pah 5^) In Units of one share of each at If and to the extent that ca6h /During the war years and as a result of trade and other restrictions received by Equity $2.50 per unit. // arising out of war from the sale of new '• * preferred and Equity The" net: proceeds 'will lie' conditions, it was inadvisable for the corporation common,- and otherwise Used for ' the to ,'epga^e. in develpprheht g.hd exploita-? ./ available, Is not sufficient to permit acceptance of all tenders under tion of a license South American activities to the extent .agreement- between- A. M. Ross-Smith originally the cash offer,- the and General * planned. During 1944 and for about contingent privilege is provided and holders of first, half year of 1945, the -cor¬ Aniline & Film Corp., dated Nov. 6, 1946 and assigned by Mr. Ross-/ old/ poration carried preferred. 6tock may; thereby, obtaiu American on a Smith profitable and to the General stock in lieu relatively substantial import company on Dec. 20, 1946. Under this' agreement! of cash. The contingent and export business, consisting primarily of importing quartz crystals privilege will be subject/to, allotment - in, the-> * General Aniline '& 'Film.;:Corp.j" granted^ Mr." ; Ross-Smith a" license ; to / ; gventj .(believed W, be unlikely.) thatand-semi-precious; stones'from Brazil. print fabrics by a certain However, due to the abrupt available-American General $2 process known as -"Ozara" in the preferred owned by develop¬ drop in demand for quartz crystals at the end of Equity is insufficient to permit the ment of which the war, the import process General Aniline had been acceptance by. previously engaged. Equity' of *all tenders/under the ancj export business '.of the corporation has General Aniline .diminished considerably,. contingent/privilege; / -/ agreed to furnish Mr. Ross-Smith at cost with all ^ - necessary The import and export business > Holders of. old was operated through Donald M. ' equipment, chemicaU. and preferred/stock may either exercise their technical assistance to' print • Murray Co./Inc./a * wholly, owned subscriptipn / fabric by the Ozara fights or accept the exchange subsidiary, to June 30, 1944, whereoffers, or both, as they may desire.^ process, to make available the results of con¬ / tinuing uppn. sucH company, was liquidated and the AH payments and: tenders under import and export busine:;» research, to indemnify and hold Mr. Ross-Smith the respective offers should, he! harmless was. subsequently carried on by the corporation itself. rpade, to the transfer office of Equity at 1 .'••■;* -, Exchange Place, Jersey ' against'all-patent'ihfringement, suits-and claims, and to-give Mr. / /Concurrently with the diminution of the import and Ross.-Sinith terms as .favorable-as City, N. J, export business, those of . ; • any other ;/ contract /',/:" * if the domestic phases of the thereafter given, to. another party. In consideration Corporation's business have increased id of the., PLAN OP RECAPITALIZATION foregoing, / importance. The importation of Mr. Ross-Smith quartz crystals and semi-precioua agreed to pay to General Aniline a royalty of 5c stones.has been discontinued. » /The' offers are made as, a part of a plan of per linear yard on all fabrics \ Zw/ . printed by Mr. Ross-Smith recapitalization, of Equity, by the designed to, eliminate or decrease the accumulated Ozara- prpcess/, ; While it j; is intended to "The! /jjrfeement or; t^po years; jfrdm- Jan." unpaid dividends/ expand and diversify the foreign trader, 1,-1947 on its old preferred stock and to reduce its future dividend /and continues" thereafter/ annually/unless cancelled activities of the corporation through its. requireForeign, Trade Division, which* by 6 months' / :/' ments. The first step in the plan has been is presently staffed "notice,".'-:'■' •■' consummated through an, by five of the ten full time employes of the.cpr-. /••' i In! addition' ; amendment to the certificate of to!'Jhe -stock"! being offered incorporation of Equity authorizing * poration, the management is of the opinion, based on various in¬ 36,006 'shares' of common the new preferred now offered, pursuant to vote of holders of. a major-/ ! stock- weref;Issued as itollows: j w. vestigations of opportunities to pursue' ; v ' ;, originally contemplated activ¬ * ity both of its old preferred stock and common stock.--The (1). 20,000: shares were purchased on ities and on experience derived Dec. from proceeds transactions that the most 26, 1946 from tha i received by Equity from the sale of new company by Richard ;"M; L6ck€Fy Vice-President -and profitable field of 'endeavor at this time lies in what preferred and Equity common -Production; Man» may be broadly (Under the subscription offer or otherwise will be used ager of the company described as an investment business of the at 5c per share.-These shares were sold under life pigry so-called special situations, to Mr. Locke'in order, to <pnly for the puprose of retiring afford Mr.-. Locke an type.. J outstanding old preferred stock or ^ ♦ <•/ opportunity to acquire a: ''//'] . , • the assumed 5 % gold debentures issued financial interest in the by American, British & Con-/ company in connection with the ! The type of transaction which the employ-. management proposes to pursue tlnental Corp.,; now outstanding'In'the ; merit "of; Mr / Locke': by' the ^ company and • Mr. principal, amount of $2,10pi000); henceforth as its' primary business-is the Locke's agreement • so / and called for redemption on Fob. organizing and financing: to serve, ', as production 1, 1947. A part of the cash require¬ manager, for a period; of: five years - at a > of. new business .enterprises and tlie reorganizing and refinancing pt ments of the plan will be provided salaryl of ^$8,000 per- year. tThese share*^ were by sales of the new preferred and issued fot' investment ! existing'' business enterprises, including enterprises where, in common under the the. ;; and'not/foc^distnbutionr ? ' subscription offer,otherwise, i ' // •; V y cpinion of tne management' of the- corporation, the correction of Sk (2) 10,000'Shares'Were purchased on Dec. ■/'To* the .extent/that holders of.oid preferred stock .do 26, 1946 from the company not accept temporarily unfavorable situation, through improving the organization by-Gilleti & Co., at 5c per. share. .Such any of the exchange offers, their shares shares, were purchased by: and business or may be left outstanding or supplying working capital or other financing should' GiUen •& -Co.ffor. its own. accounts / may, at the discretion of the board of directors of for4nvestmentr -i./ ; result in the corporation's / Equity, be redeemed ultimately realizing, a profit on its invest- /3) 6,000 shares* are beings in whole or in part reserved : by the company ' for issuance by the payment in cash of $52.50 per share, plus mient. The corporation has i to members of a already engaged in. transactions of that accrued unpaid dividends to the proposed, executive committee at 5c per share,-in date of redemption.-; Any type redemption order to afford members of this Of -the-.old //'/;////.')//■ //// /:/ ///.':f,;•''-•-< r;•'./•/ /•"/. ;'v ' committee an preferred stock/left- outstanding-will opportunity to ac- / necessarily depend! quire a financial interest in - the During 1945, the corporation acquired 96.7%- of the ;; iipon market capital stock company at- its conditions, available .funds and other factors. AH shares. inception. These of Buffalo shares will be .issued of old preferred stock Foundry & -Machine Co., totaling 2'1,940 shares, at thfr, On condition that. the acquired pursuant to the exchange offers vyjll recipients shall, hold * them Akm- investment and not- for vesthhate'd/neVaggfegalte^cost of / fee canceled, The .capital of Equity will be reduced distribution. / '. ! ■- ? * by the amount of. $1,306,-170// :/;Gri Pec; r20,r : ^946)) vths /: capital represented by On April 30, / old' preferred -■• stock now held in 1945/all of the directly owned physical "assets and /ifs/trea3iiry / ) Ross-Smith, President and^Q^pany, ; issued a«4 delivered to A.' M. ' and acquired under the director 90,000 shares of common certain intangible assets of. Buffalostock.. exchange offers. There, will be an increase in Foundry &. Machine Co. were- sold :fin! consideration: of the, assignment the capital of for cash to the Blaw-Knox Co. by ■ A; .M. Ross"-Smith *of ail of Equity by the amount represented by the par value)of for the sum of- $1,335,946 and, on his shares of new preferred and right, title (and interest in and' to a certain, contract May 29/1946 (bur as of April 30, 1946) the assets of dated Equity common issued pursuant to the 1 Buflovak North¬ Novtf/6, *1946 '. between" himselfv* and general- Aniline - & Film west Co. a, subsidiary .of Buffalo subscription offer and. the stock offer. Corp. :Fbundry»& Machine Co., were sold; to the Blaw-tKnpx Qo. in / It is contemplated exchange for 10,385 shares of capital. stock < tha'X'reg^rdless of the< number of shares of -&ld.<:' of the Blaw-Knox Co., such stock then preferred stock which remain having a value of $279,097.* outstanding as a result of the plan,_ Fe daers- Quigah Upon < the-^aaleLbf the assets of Buflovak' Northwest Equity may, as a part of the plan, through Company,; tho purchase of American { / General $2 excess of' the' Value of !the Elaw-Knox Co.: stock Quarter Ended Sept. 30—/ preferred or the retirement of its own old preferred "received over the;, ' / *• 19461945 stock, / ;•( - in charge of export operations, it was announced Jan. on 2 ■ , , j , . . , , . . „ - - . ... . . v . ^ • - . . ; • - . . - . . , . . , ' , > ' ... . * . • - - .. . , , . - ~ - . H , . , • . . CdrpJ-J-Earrtings^— increase to the of American General $2 : preferred Equity's in t;Net-profitr-.-__-y.r_/^_„l.r-Z/_~t-^-/l relation »JEarned per. share_i_______—i.— outstanding preferred stocks so that Equity would hold v Approximately, l share) of American General $2. preferred for each outstanding share of old preferred stock or each outstanding 10 shares of new preferred. - Since virtually all of the liquid assets of Equity j < amounting, after deducting the amount required for the redemption of $2,100,000 American, British & Continental Corp.. 5% gol$ deben¬ tures, to approximately $2,900,000 on Oct. 31. 1946) would be required in order to accomplish this result, current income available for divi¬ dends, on preferred ,stock would be limited, assuming the foregoingrelationship is achieved, to dividends received on the American G4n-. J: era! $2 preferred (or at. the' rate of $2 per share for each share of preferred stock outstanding and such dividends as may be General stock preferred of stock American and General each or received . the held shares 10 on of new /Eased on); i.,2po)ooo; shares'of capital the -5-^or-l; stock ,split, in October 1945, V. 164, p. 1719. " ' : ' ' ' ' V"-' V a >' *, ' •*' ' '' Ero EARNINGS • 'f ''irt ' * ^y,-164/p, ' V '7 \ A" 9 withdrawn.—V, 164, FOR 9 MONTHS ENDED ' ■ , " ■ .v.;. 30, * ' *>- / *, / * Can/inC. '&- exc; !: rrransfer from jeserve---—^-«^H-T ; t' , Cr96,096 for reserve postwar - .v... The of The to the in corporation but the the 41,666 part $^14,393" ; ^ , "V S 279,568 $1.66 $3.27. 163, by-The Aviation Crosley a new shares Corp. used in corporation, the of of As a condition Corp. , Costs ,and . :A M,V'w>; - \ V - - 9 Mos. Ended Sept. 30— sales —i. jex^enses^.r ^Vvtri ^ f1 to J Miscellaneous Doss on ~ ' 83,441 . ~ , . plant__»«_i>j«L.;«.^ ■ ^ 7 v ' Provision<for 'taxes., 56,544,;-. v ; .■■ * 11,209 :89,633 (net) ;;*^aiming$ per ;<-• > £ *Qn 244,191 shares „capital ^stock.i par $5. life insurance received." , >*> "- r i^i?;^.pONSOJLiiD4TEb tExclusive ot' C . >\-.-$l.3^:» , $293,404' . BALANCE SHEET, SEPT. 30/1946 * - T -ivf H ' $1,326,126;! Dominion of Canada : Bonds—at cost •= market; v$16,302.),. $15,600;/ trade -accounts ^receivable' and) '-'! terminated war contracts/less, reserves of ; $152,124),'/ $2,777,255; ;!inventories, $4,666,797;,! advances to logging ' contractors,$19,813;. other assets, $194,658; timberlands (net), $2,374,175; property,-^' plant and, equipment (net), $3,062,732; patents and licenses •. (net),'' $120;855; deferred under , charges^ $257,850; total/ $i4,615,860/ I -s LIABILITIES—Notes payable' to? banks, - $2,400,000; ■ bapk loans nod i Qverdrgft-r-Canadian subsidiary. $105,608; >trade accounts payable, - $1,/^ 256,258; ■ withheld from employees,*7 expenses; $168,682; Federal -V State .and Canadiaji taxes on-income—estimated", $771,441;:. .portion of long-term indebtedness maturing within one year,"$352,488; long-term' ipdebtedheSs, ;$2,285,7T1;;- reserves for: miscellaneous, .operating purposes, $84,706,v capital stock* (par $5),'*: $1,220,953; capital surplus; $1,351,729; earned surplus, $4,133,491 r. total,:- $14,615,860;—v.164; P. 2017./' . ;. if" U/;; an ' * , *$3,661), Nil,. •«*--' , As of' April 30, additional'.papier mill.—:V. .165, equip/ p. > .72/, j , $95,708., 1 $0.61 \ is .issuing is $3 and is Registrar & payable, on or before 3 an' subscription price, p.m. (ESTi^Jan. 24 at office of Transfer.Co.; Jersey City, N. J., warrant agent-. i CORPORATION—Organizedin Delaware stock oL the the June 26/ 1943,. under a chaTrter: providing 'for perpetual existence,, OriginaUy the name was Fiduciary Counsel, 8,; A.; Inc'r On June 30, 1944, name was changed- iFiducjary.-.Managenjient, &.'? Ai?;Iqic/';and', on. May 1, .1946;; the, corporatibn'adopted its present name. Corporation is registered under, and is subject to the provisions of the Investment Company Act o( : . capital the of capital stock \ acquisition, certain assets.; manufacturing were trans-, Motors, Inc.,- in exchange for Crosley stock of said Crosley Motors, ''-7 / 1946) with' the Inc. As a •//Z//v/ , .approval of its stockholders, the and outstanding shares of the (then known . as to of ^Fiscal 1951. The shaU be value that issuable, in and corporation aggregate, earnings after value to number of shares instalments each "June '30 thereof /equal in a number, not to exceed determined on the basis of the be Counsel,. Inc., be assigned to /.which,-taken, at. the on as such June April .^v/./ t/•//•.•;:•. (1) of under tha of agreement the shall shares net. 30„ Counsel, the after June InC;^corporation,^ Dec. 31, 194£t including June 30, 1951, per share, 31. as the earnings'of Fiscal/Counsel,- Inc., period; provided that the maximum aggregate to and $3 Dec. or Fiscal stock practicable 31,'to of of 500,000 cumulative 1946, 30, shares common as Dec. 30 the of soon and higher from the "net the case book be, (2) or shall may the for preceding- number of shares not exceed 500,000 irrespective of earnings of Fiscal Counsel, Inc., further provided that in the event;the\ cumulative net prior to June 30, 1951; and net -earnings of Fiscal Counsel, Inc.; for any instalment period shallshow a-deficit,-such deficit shall be.carried forward to the subsequent such to stockholders rights to'subscribe for Buflovak such ;, period period ; of The the t aggregate of 867,420 additional shares of presently authorized common. Stock .at, the/rate of four-additional shares for each one share ofcommon stock", held of record on-Nov. 25, 1946. ' The to . • A Fiduciary" Management, Inc.!—Stockhoiders' /Rights—/'/'The-'-corporation7 stock <S» principal stockholders of Fiscal Counsel, Inc., were Jackson Martiridell, Clinton Davidson, Raymond E. Hartz and. their respective. families, which persons were the- promoters of the corporation andt axe also sockholders, directors and principal executive officers of tho corporation. The agreement, providing for such-acquisition provides; that the corporation will issue to the stockholders of Fiscal Counsel* Inc.; in exchange for all of the- latter's-shares, shares of common instalment" ,»',4v'*••*,• / ./;.'«•/** of. the a. the Foundry 30, 1946, after giving* : payable in connection withi majority a of acquired all-of the issued stock of Fiscal Counsel, Inc. issuable EARNINGS, FORr.9 MONTHS' ENDED'SEPT. 30, 1946 Ne/ income-after .charges ;and.'taxesj../^/—r Earned per share oh 155,746 shares—.1' .-^/I57;;p/1269/:V""/-' Buffalo of of Management Planning, Inc.). Fiscal Counsel, Inc. is engaged in advising business organizations as to the best means of accomplishing various financial transactions relating to the business of such organizations, such a» corporate recapitalize,ons. and reorganizations/It "also acts as broker •or negotiator in the purchase and sale of businesses, in Ferry Cap & Set Screw Co.—Earnings-— ,* I-C-•'•):MS: payrolls, payroll taxes, and; taxes $484,731"; accrued .taxeg,. interest,. and 0,then / * 1945 $1Q6,368 ; $0.65 . ASSETS—Cash, ,v a s, — if~: Cqhoted' claims 1946 —,—i //Fernstrom Paper Mills Co., Pomona, Calif. Stock OfferedZ/Padfic: Co/ of CalifOrnia/ Lbs "Angeies, ion Jan./ 2 offered*: 2,900 -shares of' 5% cumulative-preferred stock' I at; par ($100). - Proceeds will be used to build and ; -'• -$1.31 r- JX s / . ";"c; -,..$1.69 QuaTter Ended Sept.* 30—{ Nett; income .after/ charges; and, taxes™——.—, Earned- per. §hare_i.._,i/_ *'Loss.—V. 163, p. 1157. " 304,834:860,000"681,800. r• , ; ( Cr60,590 share company.—V./164, pi 132$.' " , . \ $,563,938 / Federal. Serew. Works—Earnings— 30,426" =•<'.- 1946 T. of the 62,699, '■ 31, pe|p':common':Share^.-^//!.----/-.---^.-^-.-;---/^--;'- //, $1.15 R/ Lippard, President, stated that shipment? have exceeded$14,OQO,000, and. surpass any 7peacetime record in the 36-year history; * 206,000 263,000 • ______ " /». - , > 10 MONTHS ENDED OCT. *;Earne'd v 60,04# .. 34,387 Federal' And ;forelgil^ Miscellaneous credits ; - FOR realized of-this capital Net iKcome after charges and taxes.— $1,258,131 ^$1;551,21^;; • >income' on - ip,l; ?, EARNINGS . 1944 Inter-Co,;comm. .earned_^-._»^.—044,653 ; • >\l*' *3/' $1,201,586 " $1,489,119 Prov. for postwar rehab. & contlng. • 1 !$l4)805f843 3^1,599,5^ 316,080 C deductions sale of , 1945 Tfotai : PfPht,*^$749,916 interest.cixpense .d i'f-' ' I $633,836 income . ; Federal, Motor Truck Co.:—Earnings— ^...-,12,414,3&S( ;33,604,26? T Operating''profit' - 1 1946 $13,048,135 j'et automobile Motors, Inc.,.al, ,$6,per sh^re. "> , Subs.).—Earnings— r.pt appreciation of Sept. as amounts corporation . profit segregation of the Crosley Interests and in order tn facilitate negotiations, the corporation purchased from1 The Crosley Corp. the aforesaid 41,666 • shares/:of. the capital stock; of Crosley/ , Evans Products Co. (& •\ stock 84.8.% owns has unrealized capital additional Crosley Corp. ferred. to .——— reconversion.—V. plant this corporation, of 279,543, ------------ '.Transfer., from The Co.,-which: company acquisition 2,373,150 /$463;029:" Number of c&pitaj.sh&re§_i_-—279,598 Earned per shai'C-r $5.71 and • The , ■■.i?'.. '$1,596)542 $151,400 / / //•//•' during 1945, participated in a transaction between Aviation';Corp. and" The/Crosley Corp., >' which resulted in - the The i. — ^ to / the purchase of-Buffalp Foundry, &, Machine Co. stock, 952,741 - State¬ investment consideration 359,295 * 922)000 : $122,637. transactions; Northwest Co., .amounted to $495,225 ' . ■: "* "1944■ ,$1,744,465.. $3,287,543 , prof, taxes/ these on Machine <^orp(/-Earnings—Ended:Sept/3oL' i ''"'*1946/. ' '1945 after-:exp^nses/»rii^$2,422,446. Fed. & amounted profits- aggregating corporation's $6,965,323" ' ' assets -sold company expects to receive/ under the "carry-back" provisions the Internal Revenue Code, refunds of income and excess profit 1946 ' 7; the of such cff - taxes SEPT. Amortiz. of emergency facllities---, ; -registration statement (No. $723) filed with the SEC Sept. 6. covering 105,000 shares of cpmmon stock (par $1) lias, "been) p. 1592, ' / »• and Months Net- * The ; ' Federal* Mogul - ment Withdrawn-— . 1082. ' _ the shares of other American "V* ' Ipc.-ryEarnings— :Net'-ihcomeiirli~---'A—•'.737,053 y dividends, If any, on the common by Equity (after payment of t the * stock' after giving effect to tAfter charges and taxes.—' , " * ^ . cost was recorded- on the. books of Buflovak Northwest Co., the transaction --being, considered.a nontaxable exchange. On the sale of the assets/ of Buffalo Foundry & Machine Co. for cash, Buffalo. Foundry & Machine Co., sustained a loss, of $466,450, but' as a result of this sale $0.02 Sales preferred) Manufacturing; Co., CWcag;o—-Registration $8.25 •:■'•••■■ Federal Bake Shops, . operating expenses of Equity). In conformity with its practice during. the past two years, .Equity is now purchasing American /General: $2 preferred on the New York Curb Exchange.—V. 165, p. 72. , $301,735, .' $27,781 . • 7 - . old hook . proportion and deducted from the net earnings periods'. ./ or During June, 1946, of the subsequent ///•/// * the corporation Woodland 'Farms," Inc. " (Calif.), for was the instrumental primary in purpose' -; organizing owning1 of and operating farm lands in California, and with a capital structure consisting of 20,000 shares of class A voting common stock (par $10), and-15,000 shares-of Class B (non-voting) common stock (par $10). Corporation common securities 'shares by the on slock $s140,000 df in of " June- 20,> 1946, of Woodland" Woodland othdr persons promoters owns and Woodland. cash/ such of Who the purchased 14,000 Farms/ Inc.," at shaves-of the Class A- $10 per share, totaling- investment" representing 70%-of the voting Farms, Inc. All of the remaining authorized Farms, are not Inc'. were affiliated corporation. operates about 20,000 At acres purchased with the at $10 per corporation or sharo. wit'ix present Woodland Farms,: In©• of irrigated land in California, . • Monday,^ Jiatiuaryr- -13, ^i947-./^' JP8 Foster & .management and operation ^Corporation takes an active part/in the jQjf this company., J. , . <*.u;.a-• Directors and ^Officers: Chauncey B. " -Borland, the creation of authorizing . . holders Powel Chicago; O.;' Seymour H.;. Knox, Md j Jackson MartmdeU, .Quarter Ended g Cincinnati, O., M. T. # Drofit MhwaukeeV. ^vertingE.rBuffalo, Pittsburgh, William B Uihlein. N.-Y.K Pa.; Charles A. Briggs, II, (Vice«-Pres.), Charles Young, /New York and B. R. Bryant, (Sec. & Asst. Treas;) , Jersey City, N. J.PURPOSE—The purpose of this offering is to increase _thei capital Earned t> 3(y_ Li $1.44 -V. 164, p. GM .. reorganization 'situations directors •. deem.' appropriatev -unaproceeds in one or more development^ such situations arise.—Vi l64,; p; ^957. 7 as '•* V i'* '. \ 1 ... h» n«prf Earnings ' Firestone Tire & Rubber underwriters./* ,, c Galland 72,-y ",v WM The Cb. 4. . . f i\ '•'&*/>■ 38,569 3ri},4 ;:5'131,968..Vf;u: 30,023^^;^^) 827,849; ? *Productiod affected by ; 306,436 k GM strike whiOh began'Nov. 21, r* o p;- Trucks—i and 'MP p* "1945,- and a ^ , MP' g 4 ;• . «'• .. •' • June UIW UV«,TOV,passed the miliiont mark,"and despite nv«* orders had ; iw wiv ytWUMVUUII miany Uliuc^ HHJ-'ejUO. U*. filed v production has mounted steadily, and" more And* more units have been plan.-^for.; placed>inAtheMuuids#f;'waiting^ustomOrs,:orders?in:the lastylialf of: J.— -' .v..... SEC Jan. 'cliiubed At;A; Steady-rate "of approximately 10,000 A es month.. r ^ . ...- , - plants next TTlYlflilia in the ' ^hPwbnlAf! v»okrt># fnr vT6i4Vno+lniv' Unique Chevrolet report for 1946, Mr. Keating' ,1* Associates all the certifi Bftderal tax provision. 33,266 ,127,988 Trust, and; all causes—i-—.jassembly of two new (Net sales fPJ , the /liquidation M:;;the-company.;MMMp .'MpMp'-lM .' •- »Thd*order backlog,'.* he continued,','is - sufficient to carry through onHi distribution, by Associates . «the year distribution; hv-. AssonLates-i »Th»- -mii.. h«v.irin» »► k« ,v. v. 8.% income-, f 12'/acurrent rate. 'Chevrolet's facilities will bs: expanded by producing at MM •: the "months oti-passenger cars 15 months on trucks, the addition Mar.; Bsofit -after -charges—.-....— 40452 99,410 126,451 rTotal J,^.. ' \ £ and jits-p&rbot, General Public Utilities Corp.,-; 2 a joint.application:for^^Approval -of:a company End Guar. End : -The plan provides >tor the tmnsfpr isna..^uar^£,na. . .tv,0- nion .nrnwiH^e.jfor-yihrt transfer ■ and 31, 46 June 30, '46 Sept. 30,'461 to .General of, all of its assets, including -the; $18,612;700 $2,284,334 fe$2,929,290v/$2,563,242 { :%notes due,March. 1^1967,. of;Utilities Investing 545,449678,846 424,232 of action, both;legal and 'equitahle. r „ -207,200.257,800 General, under the; plan; would transfer; to ,155,000 cateS, of beneficial interest-:in; and ,all notes payable-,of, Guar yuar. End jsna,^uar. •Qiiar period— A ^WM w* H » ., with the ^ iFirth Carpet :v :V , oa ol<the;:414,000 1,11972,*^540,000;00r 20^dar% 4dgb^kintfes^aiie!aftly4 - t Stock (par $100) and 1,950,834 > shares of common^ stock- r r'> OS1' $25)'. '• .'i (par » • tinn ' P, 36,338 28,914 101,291 {December* y 21,669 ;■ 75,052 November ; i && Total: 3®,000;000 ^debentures' due "Jan./ 165, 3 adversely into new ; quarter 32,601 61,858 September . *578 41,658 62; 055: October;-^, v- I %y*o :v , p«r{nrf Slidire and accrued dividends of/250,OQ0y^^shares;'out ^ iSi^ares Of 4Mj 9J» series preferred stock presently, bptbtandingi . Capital .mrtV• •' 175 April May,; June * July August'.-; .; \v. coupox ; 4 .A' ,{ /' February March vT'J v> Trucks v>;:4,;*0 , earnings. -from the sale of . /redemption at: $105 per ^ - x - t-p-- 3 SEC Issue of i!$ttis ti Co. are named as principal , : -The net proceeds to be received by. the company ■these debentures are to Be. applied to. the ir ,, > v.; k Cars January ' ( in truck Month " — " 1944 •; .• ■ Truck Chevrolet, GMC producing for the Armed Services Se were Following is GM's total car and ' $237,036 f{jr the company states of ■ 1945. 4 third ' quarter r;y third quarter - that the 4 : v, The earnings were affected by .a,'three-week shutdown during period' of moving Co.—Registers with SEC on Jan. ^7 placed^•;in: registration with , the 5-year $25,000,000 25-year debentures ' due Jan. l;: 19.72. The ^Bftte will be filed by amendment; Harriman Ripley* & ;Co., 1945 ;i • • Canada GM: of the United States: jPori;the;buar^^br>4®4*^R^^ ti946f'net 'profit ; was $56,282 • 01; 153, p. 1425. ,vThe.; company *After . *107,964 2,360,659 1941. >$270,269 $256,575 j' -v shares outstanding„--»^i( r; 299,129:,;,iii:29&;i29 ' 299,129 p. :./; per common share^-—i*-.$0.68;_- 1*; $0.90 - 4 $0;86 depreciation, reserve for contingencies, provision for Federal-4 s-; income-taxes; xetc. PYnansinmnfthp hufiiness.—V.loD, p. in 0 Months ———; sept/BO— Ended profit Net Common of America < at Co. Ktock Offered—A block of ?i»on stock (par $100) was will -1946 * "■ . Baltimore, Md.—Class A ; 750 shares of Class A com-» offered late in December at? $$10 a sharei 4 Unsubscribed shares were purchased by louis Eliasberg; President, at offering priced/Proceeds,; Finance '■/:/r; kX 1 GabrieF Co.—Earnings—: X„'' . and Canada- *IpcludedTn^thes^ totals are trucks which Coact and • - .as. the 51,772 1,186,057 Canada of '44 ^4; *111,382 yj 2,421' 2,439 Total XT. S. corporation may expand; Its operations and reorganization financing. Assuming bonds In - such... proportions Ultimately, to reinvest such Coach 2153. amount considered; to an 33,850 Coaches 1945 M desirably by the directors ^ ^ v Fuller Manufaetiirinc Co- Earnings—in the field. *U14er iVianuiaciuring ^ir. Earning^ . of development all of the / 9 Months Ended Aug. 31— f: , , ' j1946 . . . $6,259,466 i 188,805 rights evidenced by the * subscription war-rants arev exercised, the-,);. Net sales — $4,717,538 296,787296,847.; proceeds from thi sale of the shares of common stock, after deducting//> Net income after charges and taxes^-^_-~~-,.:-^• /;,192,725 $0.64 $0.65; $15,560 as approximate expenses of issuance and distribution,, will- be;. shares outstanding, t--—'—'——1 approximately $2,586,699. It is expected to apply the proceeds to the ; ; Earned, per share-__.__:>_i-i————-4) .purchase of, general market securities and United States Government : v—V. 16.1, p. 2659. ; ?:ZV /1,!, ,pf the corporation jp order that the 316,251 1 \Z 59,572 i; 28,444 GMC Truck and' 500,000 ' / 4^,; $0.45 share. per ........... ....... . ; 282,087 230,701 156,080 Cadillac $226,811 4- *320,411 114,674 Buick 1945 t 1946 - 270,147 :131,538 Truck , MM: ■ 397,113 Chevrolet-Passenger Oldsmobile $721,610 'if; Following is a comparison of GM c£irrand truck production for 1940. !941 production; , ! Year 1946 Year 1941 929,870 < <®s comPare^ Pontiac 500,000 Z- * After taxes and charges.- stock- ';x $1,250,000 826.funded, V. 164, p. not exceeding to be used for expansion and working capital, ' (Peter) Fox Brewing Co.—Earnings— York; • Charles R. Hook, Middletown, 'Buffalo, N. Y.{ Glenn Li Martin, Baltimore, ,(.Pres.-Treas.), New York; Stanley M. Rowe, New Expansion—P. A preferred consents from Class Davidson, (Vice-Pres.), New York;y; debt, Raymond E. Hartz, (Vice-Pres.) f.v, Ctosley. Jr.^ Cincinnati, O.; Clinton Earle M. Elrick, Rio de Janeiro; Bonds to Finance Kleister Co. in production record Wolume/ attained' the was Associates;? nhlrtfA/l '• .'out. pointed iwrti#4-' and;' distribution ef .certificates, are .not • to -be automotive"replacement -parts."," *, to be Associatesls -nqt'to be terminateduntil,"More Chevrolet* parts were produced last yeat>thaii at ;'any. previous pepding r!n;,Massachusetts;! toy =which Associates finally determined, .or the. plan of: reorgaidzation Electric As8ociation' .Co.. .is.-consummated The4 directors on 'JarR. 6; elected us ''ViCe-Presidents "of the* corpdraUo!?" *M Gordon,' General Manager of the Cadillac; Motor Car IMvisioii? VaV fr Power CoV $238,249, to 60'S The notes, payable/are. to be caixceled.' ;.The ;Net pr6flt,i-;^r_-^^-^^^ir;;:V $269,232 , . $421,046., * canceled and theexistence of Associates is not ./■Sftrned. per- shares—-r—£~•*' —' J * •«"- ^0.80.v < •. 'canceled ahd the'existence of /For the nine months ended Sept; 30,- 1946- net< profit.totaledv$l,028,-r ;/; certain litigdtion^ itiav} 587, equal to $1.84- a .common share::' Netksales for the; nine months: is a party,. is $7,766,866.4--V. 164,-p., 1207, New England Gas , titm 1946^-Month^l945 Feriod End. Dec. 31— • is Sgles ■-*#. '■ ' Co.—December Sales Rosd 14.5 %p 1946-i-12.Mos.—1945.1 (M. .H.)/Fishiiian - $1,454,019.'. $1,270,056 ' Grosg $8,415,288 $7,230,341 , Gatlneau • ' ' " " John ;T>' SO^JIT1946—31^8.^-1949 J, | cPeriod Efhd.4Sept. v- ««« Q, ♦Net profJt;^U-.£ $2,754;667 - $2,48d,530 income _/I/_—___ ;;721,477 u :635,060 . < F. Ollie 194(^'ilb$^iM5i:^S V. $8,349,225 ^803^07;^ 2,255,7481 . 1,973,801/ 5 Badgrey" General- Mana$er(bf the* Delco-Remy sdefick- G.- Hughes^General ".Manager DivlSionr Eti-i ' Fiigidaire ;DivisionfUaitit T *5; General'Manager, of ; the R*.y Godfrey, rd* of the-N e w; Departure Divlsioni, ¥ : 9- 3143. Flintkote Co.(& 40 Weeks Ended— * - Subs.)-^-Earnings— General PJywood i't $38,721,624 $28,893,869. $28,717,532. ;LJ—,* '4,308,755 ", 2,822.619 5.3,905,178 ^Wl, '-8tate.de- foreign - ^ Resvere for contipg.—-- — - '__ $23,368,013 ~ 150,000 100,000 per com. income taxes (est.)— $1.04 $1.09 $0.88 $1.98 Share^ Earns, per com; shareJ, $1.44 " *'After deducting depreciation, charges; etc.—V/163, - p. 2725. centsy for 3143.. fit''i ; Follansbee '9 Mos, Steel Corp. (& Subs.)- End.Sept. 30—■ tNet profit "Loss, ——rT>„ /f.s/-1945 "1946 , tAfter*charges -and; taxes; *.-i -. Fqr the three months* ended Sept. after taxes and charges, compared period of 1945.—V.: 164, p. 826. Fonda> Johnstown /Net rev. from ry. op. income tax.—_ ry, tax accruals- Eqderal Qther $78,047 $74,475 64,280 53,464 $13,767 $21,011 4,000 6,000 4,177 , . v Earned per share ♦After all charges $207,705 33,516 ; and taxes.—V, charges. after Net Federal per ♦Computed $273,124 - The? $1 20,890 27,106 order. arrange to However, they ears as always as near 1,041,594 * $1.07.-4*: $o.69» , - 5 » 'V^;. m electric stock and 5% Output—1| || Utilities Corp;—Weekly output of this amounted to; 130,193,013 .-$0.76 / ' . ; v - corresponding week a- year* ago?—V.'. 165, p. 73. ^ * « fix ' < Hf J. hfp'i- -•( General;Railway Signal Co^EarningS— 1944 ?■'/<* 1945 9 Months Ended Sept. 30— $. Net ptoL. after all chgs; & Fed. taxes tBarning8 per- copnnoq share-——, ■ fOn 321/000' M for the» week 'erfded "Jan. 3# kwh.j an increase of 16,496,631 kwh^ company $793,6465^5 or 14.5%;, over the 1,040,964» /r, 5- - 1948 $96,981 $0.02 $2.28 ; , v $730,691 $842,563 ^ V $1.94 ' shares.—V. 163, p. 2156. -Annual Report— $273,728 — share basis of present * .) isitt alphabetical passible A. General Public 1947; -1944 ' $.0^42563,863 common shares.' share-—-—————-——~—-— par'common -• position stated in part as follows: V The consolidated net income for the fiscal year ended Sept. 30, 1948 after debenture interest requirements amounted to $756,117 <4ftq per share), which compares with $615,599 (40c per share) in the prior year. These amounts include net securities profits of $34,184^ in th© fiscal year ended Sept. 30, 1946 and $377,473 in the fiscal year ended Sept. 30, 1945. An unusual credit of $797,422 appearing in the con¬ solidated income account for the year ended Sept. 30, 1946, but not Edward F. on , -i ii ii. it is not. always companies in exact alphabetical NOTE—'For mechanical reasons possible , The r;, 146, p. 3290. 66,000 39,152 '44,387 . ' profit Net «; , ■" taxes •Earned ..... , General'Builders Supply Corp; (dr Subs.)EARNINGS FOR 10 MONTBS ENDED OCT. 31, 1940—11 Mos.—1943 $858,789 - $849,409 651,084 ■ 576,285 - 1,874 1,041,594 capital shares No; of • (& Subs.)4 . • r.. 3,491 2,291 . , RR.—Earnings— 1946—Month—1945> ... *30,-'1940 ? _v—.' );.$9oo;iOT'1- ' shares—P'J' $3.00 f* . * (-. ■ , A ,;V* - i 4 .e i > ; •*" 'Mi Transportation Corp; ..." % ' Quarter'Ended Sept".*30^- T 1946 .5, 1945 MP $1,122,253 " $722,980 ♦Net profit; MM ■ M 30/ 1946- netof'$4/120was $398,693/ income for the like A loss with & Gloversyille Period End. Nov. 30— Total ry.»oper.- revs. Ry. oper. expenses $636,190 *$360,15% ( . - _ .1943 j, 1944, f -?-VT. 1641".p.5'2409, $1.06 • \$1.07 depletion, "amortization, interest General American • 300,000 common v:-w , -. r. ,i- , ,. on ;VvV:.{:V^ $1.02 Earnings— •. . ;$140,44 $673,648 . Net profit cmMon shares outstdg. yAfter, depreciation, etc. iNet1 profIt-for-the 12-weeks .ended, Oct. 5, 1946, was $800,860,.or 60 cents a share on the common,-comparing with $332,812, or 25 » .common share for the 12 weeks, ended-Oct. 6, 1945. Net sales til? >12 .weeks totaled $12,549,764^against $8,64.1,747.-rrV. 164, p. Earnings per share $5,01?,418 $2,663,773 Tb;74£938 $2,160,395 2,002,609 1,921,300. 1,982,700 - 1,385,009 $3,008,818 $742,473* # $764,238. .$775,395^ 2,009,709: * 548,321 539,222 539,221 ^^ ■^ 40,000 ^' ■igrns. . ;POR; 'QUASTER^ENDED SEPT. Charges*: and * taxes-" EARNINGS Net salts *Brofit Corp.—nEarhlngs— ........ , '45 - Oct Oct; 5, '46 « Oct. 6, cumulative convertible preferred Wagner, President, on Dec. 5 of the amounts Hotel mortgage and parcel; of unimproved property over their March 31, 1944 appraised 43,994 Br461 43,262 Qther income—— values. A provision for Federal taxes on income was not required for General Motors Corp.—More Passenger Cars Produced {/the past year because of losses deductible for tax purposes. , . * 1 $191,076 $145,959 $8,769 $5,786 in December— Total income—•—«— During the fiscal year ended Sept. 30, 1946, the corporation pur¬ 25,447 -30,297 1,083 1,255 Miscellaneous deducts.— A-.year-end .'summary of General Motors passenger car and truck chased $993,500 of debentures at a cost of $816,710 and at Sept. 17,745 15,572. 1,438 1,396 Fixed, charges / production in the United States, C. E, Wilson, President, on Jan. 6 30, 1946 it had in its treasury a total principal amount of $1,639,508 A *' ■'■ r*d,• -;V- •. i-i' revealed that in 1946, GM produced 827,849 passenger cars and 300,438 Which it had acquired at an aggregate cost of $1,274,070, reducing the $147,885 $100,090 $6,243 $3,135 Income after fxd. chgs. trucks,, or a total output of 1,134,285, . ' • outstanding debentures to $8,908,500. By the terms of the indenture Contingent interest on Passenger car output in 1946 was about 45% of GM's 1941 total under which the debentures were issued, the corporation is required 24,857 24,857 2,259 2,260 funded debt output In the United States of 1,818,481 cars, while truck production to set up a purchase fund amounting to 50% of earnings as defined about 70% of the 1941 GM truck production of 434,214 units. vlp the indenture in excess of debenture interest j requirements, , which, $3,984 $75,233 ; $123,028 $875 Net incomeCommenting on GM's passenger automobile production by months , must be used in the purchase of debentures. The fund to be set up Depreciation (way and in the U. S., Mr. Wilson pointed out that it rose from zero in January of Sept. 30, 1946 is in the amount of $378,099. The purchases 34,855 36,439 3,517 structures and equip.) of 1946 when GM's automotive production was stopped completely by / previously made are in excess of this requirement. >* .t 1 ^-V. 164, p. 3290. the UAW-CIO strike, to a high monthly production of 131,908, achieved/ The corporation has continued during the year to seek attractiva in December. 4 Z well located properties, with a view to increasing earnings and pro¬ ."In the first three months of 1946 we produced only 178 passenger, Foremost Dairies, Inc.—Takes Over Tenn. Concern— viding for future development, in February it was the successful because of the UAW-CIO strike," Mr. Wilson said. "In the second bidder for the purchase of the 17-story apartment building known Rale'.gh Carroll, President Af the Carroll Ioe Cream Co., of Fayette-! as 101 Central Park West, New York, N. Y. In May, it took title to /land third quarters of 1946, our production was limited to 441,324 pas¬ vfile, Tenn., on Jan. 2, announced consolidation of that Company with senger cars because it was during this period that the great majority the Court Square t Building, a 17-story modern office / building in Foremost Dairies, Inc., whose general offices are in Jacksonville, Fla. of the 708 strikes among our suppliers in 1946 was affecting us most Baltimore, Md. > 1 ' * The Carroll Ice Cream Co., in operation for twenty years, uses the f seriously. 4 :#/ Refinancing of the mortgages on 444 Madison Avenue and 19 Rector trade name "Bluebird." . * ' "In the final quarter of 1946 we produced a total of 386,347 pas- > Street, New York, N. Y„ for a long term of years has just been Paul E. Reinhold, President of Foremost, said that Foremost Willi; completed at favorable savings in interest charges.//--v r •' / senger cars, or about 85% of our 1941 average quarterly rate.Our/; continue to serve those cities in the famous Muscle Shoals area which/, production in this quarter was held below 1941 levels primarily-be¬ YEARS ENDED SEPT. 38 ■hove been using the Carroll company's ice cream for two decades, / r cause of shortages of ; basic materials- which resulted from earlier CONSOLIDATED INCOME ACCOUNT FOR 1945 v 1946 t:Z These cities, Mr. Reinhold said, include Florence, Sheffield, Tusstrikes among suppliers of these materials." ' -'r'"' $824,668 $1,145,978 oumbia, Decatur and Huntsville,. -v.; Mr. Wilson said that the recent 17-day soft coal strike has caused a Income from real estate operations -626,542 218,621 Foremost now operates plants in Texas and Louisiana, in addition shortage of materials which GM had been planning to use in its Janu¬ Income from other sources to plants .in Florida, Georgia,.; Alabama, Tennessee, North Carolina, ary production, which,- together with shutdowns for inventory, . will $1,451,210 $1,364,599 South Carolina/ Pennsylvania and New York.—V. 164, p; 3143. V % result in output for this month falling below the rate achieved in the ) ;/ Total income • — 231,970 236,205 Not rents (Dry^^M^- ' Net ry. oper. income- $3,716 2,070 /Zi $9,230 stock, par value $25, was Exchange at the business $102,697 :$147,082 the New York Curb 1947.—V. 164, p. 2958. admitted to dealings on opening on Jan. 6, included realized figures, consists of the excess in the above on the disposal of the ^Barbizon Plaza a , - . .*: ; . ..* 1 .- . was • as cars • : „ V - - months of 1946. V appears that the continuing shortage of raw limit our production for the first' six months of 1947 to the rate of production in the fourth quarter of 1946," Mr. "After that, if there are no recurring strikes in basic / last Fort Pitt Brewing Co.Year End. Oct. 31— -Earnings— /{.. Profit after charges. Tftxes on incomeNet income Number of Earned per w/V. capital share. . 1946 $1,872,444 861,142 three "It 1945 $1,634,415 1,223,640 1944 V $1,530,921 k 1,136,969 . approximately Wilson said. industries and possible to increase our production in the second half of this year." ' ) v. '< - / -1 Mr. Wilson said that all of GM's five U. S. passenger car mann-/ facturing divisions, would be In production on 1947 models by the more $412,775 600,000 $1.69 t $393,952 600,000 $1,011,302 600,000 $0.68 $0.66 materials will now materials become available, middle of this month. it should be Administrative Int. expenses 4% inc. deben.—; and amort, of exp. on Provision for ♦Income before Net income, ♦Earnings per $756,117 797,423 credit which, follows of mtge. rec. & real estate. to earned surplus share ; 161, p. 985. :, 187,500 contingencies taxes and Credit fr. dispos. • 416,141, 372,276 / t'lt* r. $1,553,540 ' ' $0.49 / $615,599 • $615,599 ,'Z $0.4O / Volume 165 Number 4559 THE COMMERCIAL & FINANCIAL CHRONICLE 209 Z. i< ► ■ CONSOLIDATED • BALANCE ASSETS— • Cash demand on Real and deposit and hand on estate Invest, in, advs, to •Improved properties tUnimproved properties Prepaid Other and expenses assets est. not cos. ; charges— — 'Real estate Interest • on 346,226 As 512,535 Y7; 9,502 7V. received 'Y' V 7 Capital Earned '% 10c ,i — 30, - business $75,367,861. Of this business, leaving net >19% increase 1945 in duced which 615,599 mortgages $15,910,470 payable p. 2156. during this Earnings its 153,207 of in 1946 $15,810 V" was after totaled 1946 of 15,984,926 pairs. ■ to one. Current liabilities pro¬ consisted of issuance proceeds issue, from thus of $3.50 a which debt bankers on being issue rights a by capital. resulted in increase an A small building of in worth net of the should be of of 1947. shoe the «>X with this for de Discount Net Btock, sales on which for community is expected to For * the ' - ' before Federal Federal tax provision ' -i—— 1 2958. taxes 1945 — Goodrich <■ Cuba, it 8.559,476 here. was ——— .1,812 2,207,123 .-— < ! — : -- 1 —— naH'Ioft a?? *»08?'405 • $j.io ———————- „ Y :■ Yv:. U. S. • ■ manufacture the oi 2,026,810 ' — — for merchandise res. erable at approximate cost—— materials, work in process, etc Capital.stocks of other companies -—a.——-employees stock purchase-accounts 2,W5,709 ^secured 5,214,070 , 60,499 • . * 1 Sinking fund With trustee " -VfSTS Property,- plant and equipment». ->571,918 Ooodwlll, patents and . trademarks----—----.;,', 7 7. 1 -, ^' ' i SUABILITIES— .*. 77..'. ; ■;• .> . ..V , v i taxes —-— ———— retirement————. on . .••7v:7r." ihcome___ TPreferred stock stock (99,260 shares no x'; , •: - ———r-7; par) Ol0>85? -200,000 35,617 v s debentures, due Dec. 1, 1959——T+My?. retir. (1944), insur. & conting..«.:. cum.'preference 37,950 —«• f'i 5,000,000 224,389 ^^179,250 5,000,000; .;,' , 496,300 . , —I fi *J eur5ns.^— 496,300 , for •includes tAfter U taix S- notes, Govt, ——— $450,588 at Oct. 31, tax notes. $2,397,190 i farm Y 7,.. „ foam cushions?, of tanks • and; E. A. Doerschuk . , . {•■. 1945. ftnd , „ , . ,,v v as retain, business,, which implement well as farm of a machine number implement business and the of other it after was ' earned of the farm a ■Y 3 , Net from from The directors believe that the agreement . •2,593,274 , 1943 5,474,654 4,693,835 . 35,487,466 46,720,808 70,122,969 -21,634,501' 29,115,484 28,736,275 70 536,621 25,674,588 Corp./ San Francisco—Files with SEC ( from its stock outstanding stock 2,488,843. 2,487,902 2,587,744 512,060 534,957 2,614/516 income—146,475 94,026 / 600,196 143,994 railway at Willow Ruh In the r $238,"646 - 34,911 971,796 563,869 ^ ^ (Including Domestic Subsidiaries^. < 9 Months Ended Oct. 31—i ; 1946 Y Y : ~ ----------- after charges;-!-™—— on income—( Federal taxes- YYNet. capital shares Earned per Ltd., a above 1944 $3,018,829- $1,888,041 —Y— 589,142 share———-_w-~ NOTE—The 1945 $52,854,924 $43,607,893 $43,979,798 4,868,829' >3,648,038 • 4,196/868 ^ 1,850,000 1,759,997,7 2,464,550 Income---—-1—/Y——i Number of ' -' : $5.05 $1,732,318 598,142 t • : 598,142 $3.16, y: Y- $2.9o figures exclude operations of Metropolitan Stores, wholly owned Canadian subsidiary whose net earnings expressed States exchange were equivalent to $1.17 a share on United (tin stock of H. L. Green Co. in the the nine months ended Oct. 31, 1946, making a total of $6.22 a share for the combined companies in that period, as compared with $3.97 a share in the first nine months of the preceding fiscal year and $3.64 a share in the ' nine Oct. 31, 1944.—V. 164, p. 3142. 7 Y" Greenfield Tap & Die Corp. Period End. Sept. 30, 1946— 7/:"7 income after charges and Net Earn, —V. per sh. on 230,000 165, p. 74. „ >■ (& Sub.) "(.' 1 months 7, ■ Earnings— Y 7 3 Mos. " taxes———i. $290,625 shares-l—- '! V- $1.26 Y.? ;• ;7 \v( .; 9 Mos. $736,050 common . ended -•< ■ . - $3.20 . ' Grocery Store Products Co.-Earnings9 Mos. End. Net Sept. 30— income-after and SaV-" 48,302 } J, ' « railway—— • %^1'elfect sut^tafttikl 1943 .Y 81,384 Income---, Sales . the 1944 ' (H. L.) Green Co., Inc.—Earnings— Net $207,000 30, 1946. 1945 $194,282 21,254 *3,565 * Y The farm " $211,093 55,633 Y 18,394 •Deficit.—V. 164, p. 2958. ( manufacture of the attachments therefor ' From January 1— ;; Gross from been equipment. -Earnings— 1946 $243,692- - railway_____'Y. Y; 81,608- Net ryi bperi • >in£s by-concentrating all automobile production 1944 2958. p. railway Net ry. oper. crews 250,000 shares be 21.05%. of , Green Bay & Western RR.- ■ aggregate of approximately before Federal taxes In the period from Sept. 30, 1946, to Nov. addition to this business, Graham-Paige will also increase interest in Kaiser-Frazer from its present holdings of Kaiser-Fra2er. \ ' 1945 4,645,502 November— 'Y■ .Gross consid¬ the In of )/' vr' $15,395,618 $14,307,894 $16,439,251 $17,303,603 " an 7 to 1,000,000 shares; which will then e% -V $1.20 997,480 an¬ ' protect have ■»:*; includes "KS * tOn Y" . , - marketing of items etc. '7 company on Jan; 3 filed a letter of notification-with the SEC 220,000 shares ($1 par) common to be offered at par withbut underwriting. ~ ' Proceeds — * will be used for plant expense and working capital. 7 "Y'Y:" Y7- Y;.''--;7Y,-.\ 7. 7: through a wholly owned subsidiary, its will > taxes, $1,200,585 Ry.—Earnings— railway railway Great Western material-— shortly diverting to ' •• ; • $20,227,103 $16,048,106 $3,206,412, at Oct. iqdfi .and 1945. respectively., fRepresented by 50,000 shares no par. f40c. per-annum cumulative.—^V. 1W1, p. 278. •; " 7 t. ' 7 ?. »: v*•>•<*••••) latex lining the interiors H.'. Hackett Graham-Paige Rototiller 6,173,819. ,4.612,897 ——. -—----- of . " ' halted by this company, ;.y. y-y\ $1.31 7 for ■ 7 ::::::::: Total resumed was per 1943 - $1,310,951 $0.85 . Federal v- 1944 $851,707 1946 •Deficit.—V. 164, v • ■ Earned :>■ i- -Net ry. oper. income— 7::" The stockholders.will vote Feb; 5 on approving.Mi agreement entered into with Kaiser-Frazer Corp. V.Y'' Y v ,Y,,/ Y ; in brief,- the (agreement provides that Kaiser-Frazer will issue to 7 Graham-Paige 750,000 shares of Kaiser-Frazer common stock and will agree to pay the interest and principal of the outstanding 4% convertible debentures of Graham-Paige, due 1956, amounting to $8,524,000. In exchange therefor, Graham-Paige will transfer to Kaiser7 Frazer the automotive assets of Graham-Paige, plus $4,250,000 and certain other assets (or cash ,in lieu thereof). Graham-Paige will remain liable, however, to pay the interest and principal of its deben,: tures in the event that Kaiser-Frazer fails to meet its obligations to make such payments. ^:.Y ;/ ; -■£^ $438,476 $486,765 ?, 101,054 l 76,251 7\ V*'' 6?7,885 -Rwerves-for >•*$3 50 , become > ; • > ————: — payable for employees' use $1.25 . Y ,, Due to Officers and employees Havana, Graham-Paige Motors Corp.—To Transfer Automotive Assets to Kaiser-Frazer^'.'xr *■»y/;fZY'1 •;' 'V': 7(,7!y; 77 ^7; v.± , -7-;! i: - $20.227.103 $16.048.106 Accounts payable for commercial . 1,169,226 •. ( ' •7.. leSS ... ; depreciation, The for of oper. income 3,550,324 2,832 1,893,099 251,298 January 1— N ... • Y Gross from railway.™ 154,346,171 188,059,301 191,699,459 181,155,018 Net from railway largely credited with •Y^-Vi 164;fp; 2691» Yf> Y'-YYY 1 7-'- ,-('7;' ,, $1,61 . ; from . ' 871(057 * — ' depletion, • ; From apipointed Assistant Treasurers. Mr. Hackett became associated with this company in 1930 and formerly was Manager of the insurance and real estate department. Mr. Doerschuck, who has been with the company for Y 30 years, was General Credit Manager at the time of his appointment. <^969,807 , 5,968,314 7 at $ Subs.)—Earnings— 1945 • $1,607,257 Net ry. Fiala, manager of the company's Air Cell • tProvisiOn 77 A., 7YyY$y^ . amount Warren ; Raw Cubana, S. is(Two New f Assistant Treasurers Appointed— .116,304 for bad debts & disc.) 5 Officers arid Net Net 1,784,512 / > construction Being Made Again— war—has been 9 by A. M. Jan. "from cuts and' bruises. : Finished products liabilities Goodrich Introduced in1194flf 'and "widely used for bus," train ftnd: auto seats, foam cushions have millions of inter-connecting air cells which enable the rubber to "breathe." Early in 1942 the government placed restrictions on the 1945 -—--—.-—-----1 securities Govt, receiv.7(afte"r same latex ' share__ Great Northern in r 701 com. (& 1946 November— Gross from production .of latex, foam cushions and upholstery since start Sept. 30— capital stock.—V. .164, p. 2691. " " \ ; '' *. ' ^ postwar tire—the one that B. F. States within six weeks after V-J United Y: '■ . , Produced have use. 7777:;,1946.7. '> v'o hand on •U. S. "Government . •After snares of available that the parent company has virtually completed its program of changing over, molds In its American plants, it division. , CONSOLIDATED BALANCE SHEET, OCT.. 31 \ AflflFTP American the Compania -explained. first $1,110,749 y in This means The - 3,174,200 82,775,372 — first at Air Cell Cushion 107,020 ( started was announced on Jan. 4. intensive 5,770,961 306,917 the as introduced Curing molds for the new, wider tread design enabling this tire to "outwear prewar tires" $60,451,866 $50,726,617 46,631.778 40,501,269 — 7 3% $0.17 Tire Production of passenger-car- tl^es embodying the and $60,369,235 $50,685,739 $2,431 40,878 „ Co.—jptfstwir „ dividends Common dividends. Earned per /common share Reserve $1^4 $ dividend profit--.---,---^— tEarn. per 555,953 ; I' the on 9 Mos. End. $96,109 555,953 ^ A •Net 7 $636,250 y' yt 4 Great Northern Paper Co. 282,902 • design . income- on 7Cash in banks arid \ 1945 ^ Gttoarich ..!■ of J. common stock, payable Jan. 30 to holders of record Jan. quarterly dividend of 25 cents was paid on Jan. 2, this year. Payments made during 1946 were as follows: Jan. 2 and April i 20 cents each; and July 1 and Oct. l, 25 cents each.—V, 164," p* 3143. 379,011 " $ \r } V.) nounced on Accrued share $4,720,979 - , 1945, an in- . *30,436,965 ' $61,133,798 $51,177,678 764,563 491,939 —————- ——.. Net profit for year •preferred 'Dividend 7 7 1,024,838 388,588 ••: $22,549/203, of 27,750,275 212,573,788 179,559^946 To Pay Extra $1.25 Dividend on Common Stock— YOn Jan. 7, the directors declared an extra a $6,862,094 Number rif capital Shares Yfianled Tpg'r share^i^-:^-^-.- -r~V. 1946* V 'M--"»„ /•'•«, • 20. ; Net Profit were ;7.: , - Sales. * taxes ; Y 7;- the number of directors of the had been increased to nine and that Louis A. Green yand Irving Kahn have been elected to the board.—V. 164, p. 3143. 77/.;-Y ^ t Sales Profit election 1946 30, three months (W. T») Grant Co.—-December Sales Rose 9.7%— • ^'Y ~Period End. Dec. 31-^ 1946—Month-^1945 J 1946—12 Mos.—1945 »;V1 ■' «efr^profif^ 13 Weeks Ended October 31— now Nov. company 5 Y lncbme taxes. mcuuiy r , . sales":—I——-I— -Totiii 50.28 $122,045,> or 9 cents 30, 1945.—V. 163, p., 2006. f 'i, m 1 S S jvi v> N ^ Y to same Spencer Weed as Chairfna'n election of Lansing P. Shield as President of the company. - George C. May, H-. J, Davern and J. K. Davenport were 7 elected Vice-Presidents, Announcement was also made that $404,745 ' etc. tAlso after a provision of $100,000 outstanding shares of capital stock. months The directors announce the of the board, and the 1,384,000 $0.29 Cuban Plant— 1946 31—' ' Due from ^ ,s » some three 59^%.yY.V:::.;; 7. YY7/7'7,7 Elects New Officers— 299,200 $395,670 $0.30 1946^^^ $5,148,256 $67,962,572 $44,486,263 JOn 222,738 for the of crease $703,945 1,391,500 .Y ended' Sept; 30, quarter $660,970 265,300 $419,653 - $0.45? . 194S-—4 Wks.-^1945 -1946—43 Wks.-il945- ;7 compared with $14,128,001 for the Goodall-Sanford, Inc.—^Earnings— early Y,,.... v... $7,315,465 Retail sales 1943 - 1,394,000^/1,392,000 share $1,174,018 , 7 for contingencies. ! equivalent to 21 cents a share, compared with share for the quarter ended Sept: 1 ACCOUNT ——- Accts. 367,800 outstand.. per com. 1944 7 $787,453 $624,800 shares $1,615,410 - 1945 y,'?After deprecia^on burbefpre^evwf»>. ral 1 *$2,883,029 Y^ *After taxes, depreciation, 1946 ■ 385,000 Net profit Com. Earnings 7; the . : $1,009,800 Federal Income taxes-^. • "El ————— Provision for ~ 1946 •Profit construction ready in the be Selling, general, and admin, expenses and provision for bad debts—.—Interest and expense oh debentures-.———. Provision for contingencies r 1,758,954 Co.^—Earnings— $1,030,571 813,078 RESULTS FOR 3 AND 9 MONTHS END. NOV. 30 Period End: Nov. 30—*•« 1946—3 Mos.—1945 1946—9 Mos.—1945 Net earnings ,7 t$467,4l5 $216,997 $1,159,655 $539,252 Earnings per share.,^ $2.10 $0.97 $5.21 $2(42 4,110,349 3,546,502 ? Day—has sales Cost of - 2,135,301 40,738 Goebel Brewing $1,987,096 .Cr2,587,281 Sales . Triunfo," S. A. This company will but General Shoe Corp. Will haVe *a majority and will Undertake the /management of. the .— Total - 9,965.32? 380,884 9,510,271 3,181,962 2,776,901 r- Other Income > 8,731,250 9 Mos. Ended Sept. 30—> $3,644,598 1,187,126 .//: 842,061 ■; and Y Period End. Dec. 28— —.... > 41,851 140,000 640,000 — , Calzado capital, common Years Ended Oct. . 263,168 207,217 • $1,810,571 : / taxes.. ••>. Grand Union Co.—Current Sales Rose 42.1%— - $31,401,897 profit after charges and taxea.'i>i—^-._.; 1,563,012 per share on combined 1,028,620 class A and class B shares "■ $1.49 —V. 165, p. 73. ,... use Sales, less returns and allowances—. '-' 300,533 265,983 r' />;,>••• 347,490 tFor the years 1944 arid 1945 resulting1 from the carry-back and unused excess ; profits r credit from the year 1946.—-V. ' of-losses • Earnings (B. r 61,939 7 $2,028/947 1943 7,087,339 ■ 118,528 $3,992,088 •$5,470,311 ■wet income-..— /; $884,063 31,258 income oper. 1944 776 . 149,915 $2,591,492 );Y j taxes .inc. 413,111 $1,910/419 —..—- $878,344 Net to building restrictions are lifted by the COMPARATIVE INCOME ' 1945 $668,896 800,554 $3,842,173 $7,079 26,091 January 1— from business. ' 7 1,415,060 387,437 .7* 780,920 charges_»r_.«..w« profits 1943 $2,460,510 130,981. 870,299 of 1944 , •$5,953,174 165, p. 73. $650,728 Years Ended Dec. 31 •$5,082,874 Y excess wduld basis STATEMENT 1945 2,905,134 tRecovery - 1946 *■' adm. Excess profits tax : ... and income Income 2,259 7 *$83,113 •$9,313 Net- sales from When this building is finished it will provide manufacturing space in some of the buildings Nacional have Peruvian , 14,248 $9,338 2,344 EARNINGS FOR 9 MONTHS ENDED SEPT. 30, " being used for sole cutting at Tullahoma and Nashville. The company has also acquired the control of a shoe manufacturing company in Lima, Peru. This company operates under the name of Fabrica < Y'vY 1917; •$3,902 f ry. of „ Nashville additional ; •$80,769 191 ? Glenmore Distilleries Co.—Earnings— has been secured at Danville, Ky., where a limited will be undertaken in the very near future, and available suburb a Spring , •$9,122 • gen. Income before Federal $4,910 V such on $5,337,628 $41,270,284 $39,654,166 $20,601,'469 8,385,668 37,394,713 35,011,438 18,277,938 sales- Income 21,914 Earnings— —V. 164, p. 2958. by the Spring 1947. 7. -; .'77 At Carrollton, Ga., a small building has been secured for immediate ; use in a limited way. Arrangements have been made for the con¬ struction of a large plant at that location as soon as government .building restrictions are lifted.» 7 7 V'; A new sole cutting plant of considerable size is under construction - Other after ■ 98,350 $96,407 15,638 •$3,711 INCOME 7 $115,354 77 operations Oct. 31,*46 , returns, expenses • ■ Net investment company of Kaiser- that . 10 Mos. End. 33,604 31,020 continued CONSOLIDATED Cost 54,461 V 7/ $2,983 / $41,894 12,360 ( Y 116,399 1,969 Y .21,902 $11,346 2,224 income.. Net Ygoverriment77Y:.77'77 YY-Yv :: At Waynesboro, Tehn.,; a",plant, Is.now. under construction which In I $5,005< ; railway from railway shoes arrangements have been made of a larger plant AS soon as 4 35,277 ... _c . Gross sales, . less still manufacture • from From Gross % $9,382,976 at the end of the 1945 fiscal year to $18,692,768 at Oct. 731, 1946. .Working capital shows an increase from $12,877,819 to $16,413,681 during the same period. 7 f 1,294 railway Also basis 3,159 1,974 Net from railway. Net ry. oper. income term sheet. handled which actions i offered stock balance 41,155 ( that , •Loss, after off the long pay the 7/ 8,253 -- Georgia RR.- provided $2,452,169 of additional ;The com¬ also retained from earnings this year the amount of $1,560,922 further provide for captial needs. These financing trans- pany to to from f 64,030 shares of common stock were stockholders, the unsubscribed balance ; preference used were eliminating 3,422 $5,222 , Dr) November-— Gross from $5,488,403. Inventory turnover or the ratio of net sales for the year to total Inventories of materials, in' process and finished goods at the end of the year, amounted to 7.64 to one. ^ ^ During June of 1946 the company undertook additional financing. $5,000,000, YY 59,114 : with consummation provides ® corporation to maintain its ^competitive position in the industry and, therefore, urged the stockholders to approve YYY. $234,439 until the , ;the agreement. •Deficit—V. 164, p. 73. to This 4,951 3,199 Sur. applic. to int.. $2,397,190 of U. S. Government securities against income liability. Cash and additional government securities amounted /debenture $177,440 agreement agreement Production of Graham-Paige will be cut back to production in the Willow Run plant, such per¬ maximum which Graham-Paige will be able to feel ? Directors automobile Selling, Dr)__ (net Gross income 5 $1,309,947 are $14,516 interim total .etc. inc... (net rents the Yno: en^.,, ' 3,733 oper. rents fac. Deduct, common deducting ; x iinance. Taxing Net ry. oper. deficit— Shoes $17,528 UnemployIns. Act, *38 Non-oper. income was making 13.53 i ?Z* the being of Receivers—Combined) 5,374 RR. Railway 1 1946 7; op. RR. Equip, current liabilities tax Such centage >'-7 Jt. $51,177,678. ry. — ment stock outstanding Oct. 31, 1946, provision for preferred and preference dividends. This compares with $1.71 per share during the previous fiscal .year. Total net profits for the year amounted to $2,755,372. Regular dividends were paid on the preferred and preference stocks, .and dividends of $1.60 per share were paid on the common stock. / The balance sheet shows a ratio of current assets to $3.76 were Graham-Paige has entered into a further aZM,r p" Provide for the interim period , accruals— Act of 1937 Fed. $14,234,063 of inter-branch of $61,133,798. This is a during the fiscal year to from tax and in revenue. able be recently Northern Railway) 1946—Month—1945 1946—11 Mos.—1945 $192,558 $192,130 $2,196,995 $1,990,172 175,030 177,614 2,019,555 1,755,733 expenses. the Australia.— >•. and • agreement, the stockholders of Graham-Paige also will to share in the profits from the manufacture of both the Special and the Frazer automobiles or any other car that may produced by Kaiser-Frazer in the future. be . rev. Federal customers amounted oper. Regular L ended Oct. 31, year customers to sales on fiscal there to sales year share per for sales net year V..:, (Corporate oper. Railway $14,004,020 $13,351,062 — of Net 970,847 2,129,139 * ; payable amount net over Melbourne, Period End. Nov. 30— 9,902,000 General Shoe Corp.—Annual Report— W. Maxey Jarman, President, on Nov. 26 said in part: Total volume of Time company, thereby eliminating duplication of effort neces* from having two companies operating in the same resulting K.aiser ■ (Including-Statesboro Railway Railway 660,000 8,908,500 153,267 1944 •nd.$31,922 im 1945.—V. 163, ; operations • expansion program,General plants in England and for . ; v 5,815 838,112 - — •After deducting mortgages $15,747,425 in 1945. tAfter , company's one Under Georgia & Florida RR.—Earnings—^ 211,682 15,965 advance)— share) per surplus since Sept. Total Lafayette, Ind., where foreign plans v 345,786 255,687 — in 1,038,501 (par surplus its of - $275,278 130,847 Y;7-~iiY:'7v 80,000 Reserve for taxes and contingencies 4% cumul. income debentures due 1969_ Capital stock sarily plant. 77..-; 164, p. 2545. 137,108 ■ etc.!— (rents part announced ; expenses, income hands of Mid- Division, La Salle, 111.; Seth Thomas Division, (Thomaston, Conn.; Stromberg Time Corp., New York; Haydon Manufactoring Co., Torrington and Forrestville, Conn., and Western Clock £o., Ltd., Peterborough, Canada. ; 28,750 6,458,891 taxes»-«---i—;/7 $527,741 mortgages payable—— accrued Deferred West Plant— New —$14,004,020 $13,351,062 , Loan payable to bank by subsidiary company Due to brokers—purch. of mktble. securities Other Corp.—Plans The corporation has acquired property in West plans to build another mid-West plant. The include the Westclox LIABILITIES—i - Instruments . 8,123 >— Time it 557,964 ■ 331,056 V 555,104 - deferred —— Total 2,377,686 $781,476 cons.Y/7 .63,500 8,355,551 —— other : 2,278,032 receivable-——— real 1945 . 514,034 receivable— mortgage loans General v , 1946 $1,154,804 2,578,280 443,568 — , notes and SEPT, 30 \Y:'Y Marketable securities Accounts SHEET, Y.'.-. chgs. ,J " 1946 —V. 164,%. *21. 1945 Y 1944 1943 7 ta'ifes!--_^r^-i-—■ - %562,285 Eafn'. per NsOm, shttfe.--/'? $1.94 - r $218,112 ' $1.01 $290,446 / $1.34 $173/824 $0.83 X »'< CHRONICLE COMMERCIAL & FINANCIAL THE Mondays January '13, 1947 210 \On Nqv. of 2%% United States interest. The offering of, $67,500. (& vSubs.)-~Earnings^-u, 6 Months Ended Sept. 30— \ _v 19.46 , 1945 > Profit after charges $3,498,033 $2,082,345 • -l 1,200,000 ' Federal tax provisions--'v. :'l,367,253.': r91,693 152,685 "» ' «* i • t . 1CO , ' L'OC Hercules -Mo,tors JCorp^EarningS-r30-— v>£ V'.V'v&l'V ? J&45' £"«»•'* i */*, Hall JP!riiitingT Co, (W. .F.) Quarter Ended Sept. • charges_JT::_i_--^_l;_^v §$351,374* $60.7,112 "'Profit after income, etc,-^--^..;\v-,''i';------■- taxes on Federal ,, >Froyision lor - contingencies_£^y£;,.-r * . ; . *"380,000 ^ _Earned .per. ■ 1,000.000 .;:,T of 164, -V.. provision ♦Includes ; (• .oss^;^,-,^ §L°ss. . financial states that' "the loss -fo£ the quarter .ended Sept. 30,1946, A"; v. .jn reading the .Comparative Consolidated Balance Sheet, application nf appropriate 4ax»cwdlt-^n4.,4S'.Mt):Hhoafe-hpplyin5^.;:^'*i^v9hottid .be given to,Two Important occurrences-curing •The rreport -is before U'-' $o.*8be used primarily for investment.;Jn'~ inventories.and .receivables,'*^;'^--for" renegotiation.;£$Qn.311,100 capital; shares:^:.'■■ ■■. •„"; V-f''V £' >.. Nil *;•, " *•$0.79 $1.98 l.OOO.OOO capital shares .Vv^/v"<;'v ,/•" Y-*i>£. ££: 683. Met '^Earnings per share " currently .ontst^anding on Part (interest. /.-.$20,500,POO of .which 250,000 w <J. $790,652 388,357 $1,978,095 profit----__----^l--'li^-,^,----ri--r-i-..NUitiber of 'Capital shareS_---^-i---r^-^----i<4 Net ♦Based 18,-.definite Arrangements .ware .made .to -..sell jI-. 20-year debentures to a group of underwriters at 98 %■.% :* of the face -value thereof; and accrued ;<.££/;:£ ■ price tp the public was fixed at,par .and accrued V. the proceeds>,will be ;used to pay bank Joans of, $10,067^0.0 jy^s,.borrowed, to .redeem tjhe serj&l -. *' ; ''.''/debentures.,: ,.Vv ...i'. t, The remainder .-will be .added.,.to the cash funds of the.» company >,tp ,§fi ., . , _ „ .... $3,591,224 *"3,115,617 if#,000 ",f the in I' Minority interest. p. $30,000,000 " 1944 considera-v " the fiscal-. £££££ 'of^,*^43AUAclAs' Uttered, ts tOfiicva..rates-bfexchange withvthe^'effeet.of decreasing by^ approximately 10%;,the vaiue of currencies of-other -countries, when'1-:".-; 'I4' o? «l per bxi^rp. ?harp ' 5 1 Hinde & D,auc}l fap.er .Cp. (fy §UbS.)-^-E$rningS— ^vaUd in terms of ?Gin*d&it .dollars. iThis nhgnge ^ STOCK at ' ,♦ ' 1Q4Iiq44 ■ conversion uai.es .accounts dn part for the decreaseln nurren.t assets ' HISTORY AND BUSINESS—Company was ^cor^rated Jari/ 5,- 1946 9 Months Ended Sept. 30— ,, m gL $18 0^46,518,332,449.^^andjf.ab lll)ei>t Aug.! 31, >1946 /as compared with .(Aug. 31.. 1945 in-\ ',.t» , ' in New York. The company's main office is. in .New York City^where j: , s-les ---------— f t--— • ;^ • 2'406'388 2 598,7a7|i,.b,$muoh as by Jar the greater .part of the current assets and liabilities v, . . inspects warehouses and ships merchandise to the stores an Pi ofit aftei chaiges_^ i'e20'ooo 1*700 OOO^-* «C-«: located »n cpuntnes other than Canada, principally, the1946 re- •> United stock in August ^nages the business, Company operates the New York office and 1 -Fed. income and excess protitsrtaxes68O,00Qv ^5^®rgstatts. a qash .raymsnfc pffW preference Thevrcdemption jof $11,216,360 plus accrued - dividends -.and, - -- (quired $898,757 1 v.'iia.'-.v'.W • , ixro^/i /W~,y*a Xr, Pn An of the postwar reserve, for iov—v. 162, p. 3073. „ any1 part , ward oc ^O. uu r £•■>•£ yyvy? (500 par) • common 74 687 shares rmhlirlv offered 7 i Co.—Stock Ottered Halliday Stores To»-, ■ • . , \ ,■ ner . it , _ 10,„ , _ buvs _ stores.1 The in engaged is company includes women's and: wooi and potion dresses, Which £::Netofprofit-; No.common selling women's and children's weai\ children's coats and suits as well ds Earned • $2.31 '.amo.unt. $2.12 of the current assets of a like ' ' ' " "" ■,« consequently, .resumed jn.. a "reduction , 360,250 ■360,250 '. $2.01 476,379, shares share— per $846,388 $1,101,426 - . \ -Tiie net re?ult iqf all-exchange adjustments*;in consolidation as at * hosiery, beach—V.' 163, p. 780; t: ".^V 4Aug, $1, 1046' was a (debit of $1,503,117, which is shown below ,»3 wear, .bags;, costume jewelry, furs, etc., all in the medium price range. ; VjunieaUzocl.foreign:.exchange losses arising in consolidation,"? t" The stores of the company are located in the Southern part of (R.) Hoe & Co.; Inc.—PlansjHecaEitalizatipi)^ ^ ..,,.4 The assets in Great Britain are subject" to foreign exchange and. the country. -Cities have been chosen by the management based' on A special meeting of company has restrictions, .the included present and future prospects. "• I' , , 1.. ,, , been'.called for Jan.. 29 class "A"( Stockholders, of thisplan and con- ; , otherconsolidated balancenet assets in Great Britain as Included in to approve a -recapitalization the sheet amounted to' $7,602,452. ip,' The method of operation of the company is one which has become solidation of Pittsburgh Lithograph Press Corporation, a wholly-owned these net assets were current assets of $8,213,653. Net profits attribustandard in the women's apparel field.; The-New York- office main¬ operations in Great Britain included in the accompanying 1 .table to operati tains permanent inventory records tor all stores and makes merchandise • sonaanon 01 ,to the Hoe eppapany. jfi ehipments as required by individual stores. 'Sales are .... made fori cash, (Subsidiary, into will enable the ^dU-ectars . to place the class "A" • .... Tnoanh T Aur >» 'his type of business is evaiiahle.-. _of Ithe .program existing government regulations th<? transfer of such profits "to" Canada .stock on it? established basis, of $4 per ,share annually,.'and to-declare Is" prohibited/-■■■ On Aug. .... . 15,' 1946' Robert Best and Samuel . Schulman, .sole stock • -*•*— " Regular $1..quarterly dividends on. the "A" as. jarnjng$ permit. ..Thie _ During the year,,Hiram Walker & Sons,-Inc.', a' subsidiary company folders, entered into a contract to buy Jrgm "Wiiliam Bookman And recapitalization plan, submitted by the management and approved lin ^.United States, completed the renegotiation of its war contracts Maurice Hoppin all'of the outstanding stock of Benton Stores, Inc. unanimously by the board pf directors, Mr. Auer explained,, provides: applicable to the years ended Aug. -31, 1944 and 1945, on the basis M ' ■ <N,'Y.) and its affiliates.-This contract was assigned to the; company. 1. Presently outstanding common stock would continue fa be the • _that ,there were no excessive profits for those years. These settle' in •These corporations operate stores 1n the general area of. the company .stock of the consolidated corporation. v .ments completed the renegotiation of war contracts inasmuch as the Benton Stores Inc., the parent corporation, and its affiliates are 5t* '■the same type business and operate in the same manner as does the — ,— rnrivprted into new share of clasa "A" stock, and lour shares, of expiration, of sthe ltenegotiation ;Act on.Dec. .31, 1945 was not sufficient Silk, sportswear, underwear,- -■ - ■ v.-,-..- _ i: 1 .. Uli A01U. IP, fiug. il_i. J— •• - '• - * '' AVVMUAV - \ wvvivu common : ~.-r* ..rr - ***V^ : a , stock (no par), of Schulman and Mr. cf class B common Mr. Echulman. "»;On Oct. 15, tlon. In this iings. their. stock holdings. amended 1946, the. company . •^..Tt.e.B- stock which would annuai - .. .- . . • ■- and/.would stock stock would be non-voting price and redemptiop These.cash outlays - will be required. prinpipally for building up. Inyen- .-^.^-tories sublect be upon • liquidation value)- through the- books of the Company the ■--- - -' for Class 'A* 50 changed stock common "'-Stock JiiOn '■ ; r •» dividend shares V/. .^'n; s the fund are 'B! stock or for:the payso .paid to reduce the and liquidation value of the ,lB'. stock- • On $ ' £^•200,462,845 204,841.425 - ■»;*-*- be used for the redemption or purchase of of dividends thereon, any ..dividend t mfeht initial redemption price and1 ilcnorf now goods sold of ■ 266(845,903 254,618,161 sales Cost 57^83,058 49,232,385 776,736 24,316,781 19,592,942 .248,018 Gross profit on sales felling of general officers -Salariesand.executiveexpenses of parent(company ;fees of directors of par, co. for services:as such romnanv There aie 0si 1945 1946 Canadian Currency— t o the"shares^^arp'wfw^reasurv initial redemption price and liquidation value oi the in assets after MiU liquidation or dissolution, the 'B' stock would share :B\ Stock.. . On therefore issued and outstanding 80,000 shares the new Class 'A' stock but befbre the Common stock. "Thus the. proposed plan,^^ without 'diaturbing.':tlxe existing common htll"nSnkini?1iff -154,687 sharqs. * stock, in effect and dividend fund issuance, of" 'B' stock and- creatiop provides, thr.ough for its -benefit, a method of paya/total of will have issued and outstanding a total of 154 thf^nrk'^tn^hp Euock. Each received 62,500 cents). (par 50 |V Jvy'?-"»•••. in passed. ENDED AUG. 31 (Including -Wholly-owned Subsidiary Companies) Stated in -Net moneys JhiS ipolicy/ is scund under presenfc .conditions but that reviewed when the rack houses are filled-with whiskey CONSOLIDATED INCOME ACCOUNT FOR YEARS the and would equal 50 —deductions 1 --*• be aqd the peak of the financial requirements has been operation of a redemption and dividend fund. Provided, that, i»o dividend payment on the is Class 'A' stock is fund would be. set of current dividend payment new provided for, this in arrears, and. the aside should it capitalization <par believ& Jhat • in reduction . balances of accounts sales. The directors of .maturing (whiskies and to carry larger ... resulting from somewhat increased •• •• receivable non-cumulative - ,the. initial of the plan, be created under - . . the directors very quired ln tbe immediate future they have decided that a conservative ' policy ls in tbe best .Interests of 'the company and .the shareholder^. , "B" the redemption or purchase or -to the. receipt of dividends of 10 cents per share (to Jje applied to increased amendment the company of . v i of incornora- _. its certificate *• - certificate , • * _ paid on has dividend -arrearages share ift which at present per stock "A" class • • . . cash would be ' share a Exnlainimr ,,i6 which 200 were.Issued to Saihuel Best; paid. $80,000 and $20,000, respectively, for . w nf class A common Best; 375 shares were'issued to Samuel Schulman; 200 shares of (no par j, of. which 200 were issued -to Robert? eioek : of $3 ctnndine 'r -CAPITALIZATIONr—The ■ capitalization of the company originally ; consisted of 750 shares of 5» preferred stock ($100 J, ofwhiOh 600 an r units. of the two stock "B" business don*f^ T?„A with" ,to require renegotiation. ^ ■' . ?ncl, greatA»g- 31, .Ithought by The dividend has deal .v.,.,... ^vnirafinY, «# standpolicyviewaf?obeen ai..givenDec.^rom;cash wasofnot45 ftoientre--?'-r*!" Wr . piration.or ne Renegoti ti n Actgon esa 31. -1945 outlays9 Jq ibe the-5 suf c «: the outin of substantial , of $20 per 3 A dividend the parent corporation, was affiliates presently operate five leased retail .women's ready-to-wear-stores ■> and four leased-retail women's readyto-wear departments at various locations. The parent corporation, fa addition to its distribution and purchasing of merchandise, operates through itself and its and . .. 2. .Each share, of PtcsenWy redemption; class.."A" ;stock wo.uld; be outstanding (with organized Dec. 6,1938, 4 converted into a new initial of class "A"price and liquidation value share stock, and lour shares, of share) • * 'company: *>•; Benton Stores Indi, cniH 20,000 ' 20,000 m 713 109,546 -Legal fees interest *£pss on.disposal of-fixed-assets * 112,196 >-- 46, 592-m 41,383 plied by the ment, out of future years* earnings, of existing dividend arrearages Debenture 324,493 346, 36,621 «a' sfrtc.k Dividends on the Common stock qan-;Amort. of -debenture .discount and expense -29,471 1,246.587 36, PURPOSE—Tfye entire net cash proceeds will be applied to the purchase price of all of the outstanding stock of on the present class 'A' ^LUUrW»JL/AVAU^iAVAO UU V*1V v/vm.-.v^; , ... ^ $1,746 .Stores Inc. gnd its affiliates. - The purchase price of the stock hot be. pai)i pO^lopg as (any 'P' ^tpckj$ ^outstanding-antL so (long be acquired by the company is expectedrto be approximately $425,000. any dividend payments on class 'A' stock; including , the curretit -Provision-lor-oeprec. of build., plant & equip.i._ 30.517,158 >2ff,100,508 1,725,640 *Agent and 'Registrar—United'States CorpoTatioh Co.,* 160 -dividend, is not provided for."-.^' ' _ ' /_*'-*• " er enarges j_ 16,310 Broadway, New York.—V. 164, 0. 3L44. ' 4. % „ , A j - '«*'^ ■ . * ' Other_tacome^ ; ,2^77^48 355, ; ;t rr; ' > Has Record Orders-^ v- /'• nff0,0H the company hnvA „„ outstandine las.,art and redempyon of ctnoir .nor 36,096 r-io« nf company «- Benton to l Transfer . , ' •<■««« ... ««, . ' - ik £ '4> *i'*m •*- m contingencies profit after charges Earned per common share. 33.194,906 28.717.863 -17,289,804 -19,306,563£_-Crl,485,114 > ' I'& f: £ ££ £"«• profits-taxes— Ended Sept. 30— ' 9 Months , Net —V. *' .164, p. 2959. * " ^ ^ Harborsi^e Hftrehojise Cp., Bonds— Inc.—To Redeem Incpme ;>■»'' ,,.i the outstanding',40-year called Jor redemption on AH of ; been i from .Oct.- ;1, 1946, at the rate bond,' ' * ' I I 4 * ' , Immediate payment of the' full: , , • OI "CUUipiei-eiy J,UOKY»»i , . J.l . , , f . t , redemption price, plus accrued inter- floor and its installation rpu<" ^ank Farmers"Trust JV, arI' Co., trustee, ,22 ,William ^Street, New York,- N. Y. ; {i . £'c" , - tions Interest ^represented by coupon No. 13, maturing on Jgn. 1, 194.7, cylinders est March to will,be -made at,the City 1947, 12, to the trustee.—y., 164, p. NOTE—The pany Hartford Gas Po.—New . fed offset; and compaiiy's proposed plan to The stockholders on Jan. 4 ^approved an open-end mortgage and to issue $2,000,000 bonds to finance plaht expansion.—V. 103, p. 1083. J •"ereate Injdu$tdes,*|pp^^arnings~! 3 Mos. End. , taxes__-^__ before Net refund- on/ ggvera.-...; Est, . -. * ... v-. — - -> ' ■ - ——. Net ,<ti 1,389,912 1701,017 Net sh. pn Nil ' ' (Stated in Canadian Currency) Jk ^ 1945 ^ 490-13,452,445 . - ,r.w_ Refundable ... portion of , 000 ; 5,343,000 v 451,296 U. S. ex. profits taxes , *' > .14,685,598- :.15,594,499C' SAccoupts (receivable . # .- Hiram W ?llKer-C*Qpaernam ot> ; Report-r- - - . ». - , > " : "Common stocks and ,other Investments without ^ quoted market yalue, .at cost,i__:^_I_'_;____ Ca?h* surrender value of life insuraiu». poUciei President, on Nov; 18 stated in. part; , PRODUCTION AND INVENTORIES: • itand' puWings, plant .and .equipment.,RefundgbiA portion of .Canadian.ex) pfts.Jtaxes (The),Hec|lt CQ.-r-Extra Ol$tnbUtlQn of 25.CentSr— : , produoiaun A«U A V ftlroholiC 'bev,.i."The directors have declared an extra dividend of 25 cents per share \ During the -war-/years, and since,, the production -oi , aicoim • t Unamortized debenture discount and expense.! and the regular quarterly dividend of 40 cents per share on the ^ erages has^^ been .severely^^ .restricted,;ih$t because^of the 1 es- g , prepaid in$ur.,v Iter., taxes & other misc. • chgs. stock and the usual quarterly ;dividend of 93% cents per of alcohol for wgr purposes £na jater hepau?® the world wide Goodwill, processes;and trade marks chare the 3%% preferred stock, all payable Jan. 31 to'holders ' shortage of gmin -»i'*ioaR" thA1. ( -vl * f,£/' .i -■-» 1W, cf record Jan. 8.* 1 ...... , , K , » industry was '• permitted^-the equivalento In the United States,: irom,,fuct,; fof only -162 'fnll.-dgys of bevTotal 1 * ' i ' -. .Last year, -payments were made as follows on -the common- stock: "erage operation "The situation* has " been somewhat less , difficult in V-;-T,umTmD«" • 4&n. 31 and April 30, 30 cents ,sgch;.,gnd July.31_gnd_Qct.:.31t ,4Q pen;ts Canada but more so in Scotland. ,, !. I *■/'.£. .^nftBiLiTIES—- 7 each.—V J64, p. 2546. 1 ;;.-"is**£■" ■"■■ V V .Throughout,this period^: largo part of the bev.erage sales of the . Bank; . -- . .... •» C Company have of necessity-come: from inventories on .hand at the time ; (H. J.) Heinz Bo., Pittsfeurgli, Pa.—-Earnings— ^ * ' production restrictions were imposed, Since October, ,1942, sales\of other accounts d "—T"" . ■ $14,225.—V. 163, p. 2167;,':' « t.A ML ^ * * Howard R. "Walton, •,„.£, £'i. «V common on •.ir""mT"T .)• ..■;-.AU-vuw.^v«wv« , , . ,810,532 - .865,287 sales Net income., aa . Provision fqr Frovision for Federal, and foreign incpme taxe.s_____i_-___; ............ contingencies_______________'_________--__-_ ,; ' .1,000,000 Net profit Earnings per copimon „ $3,047,592 —_r.—$2.(03 share— r inventories; While it .has sold to the trade in of ,3,017,601 whiskey not been possible to;replace' air the recent years, the gallonage pn-hand is moderately expanded, sales program.'.It -'.is'expecteji' thjit" u; restrictions on the . use of grain for beverage production aopn rAinnvpf) Which will nermit the Comoanv to substantially be relaxed cr removed/ which .wiU permit thp Company to pobs^antifthy r .ample'for ha r % a rv ..will (Joes not Jnplude above build up inventories; ( 10 Months Ended Sept. 30— after all charges shares outstanding Net. earns, Common (& Subs.) * *; ; and taxes__' : * 1945 r , * $538,684-' ; $377,913 •255,972 .328,437 j Earnings per share— rV. 164, p. 3144. 1946 $1.23 r i : $0:98 , 101,193.350 110,472,889 1945 3,294,639 ' f t'-Z-Vv ' of 1,234,448 ■ 861,741- -1,100,000' - ,785',114 MPO,O.O0•' iv'aqn'iani i2;; ;i7 33~dj[io , ii(; farr)ed suiplus _i____;__^^ 48!l43,196 35,111,^2 ££*./;££V?lhmon Shares held by a subsidiary campany y .,I>r88,565 C'iDrSa.S^ ; .* •'/ £ _• . v. -- j+, ... Get. f 18, 1948; " and of expanjded'production to .build .up inventories, the directors authorized the redemption pf the outstanding serial, debentures .and the , sale Pf deemed on Nov). 3.738,949 t 807,797 721,537 s —,113,775 '-21,406,849 — - :• 1,464,697'/.' 570.797 . 1946 and-the split became officially effective Qn In anticipation of (larger accounts receivable-balances, $30 000,000 . ~~—-zr--.-—-— ^Treference '< »Dnmmnn- stock'of nonpar valub „ • Par,shares -- *Common 20, -Earnings - . fnV - ^"101,193,356 110,472,889 20-year debentures. 'The serial debentures 15, 1^4$ 4at face.^valpe of -$ 10,000^00 . plu(s were r(e- .premiums Represented /fe*. 724,004 shares.1 tRepresented by 2 467-shares hald o2 '.pH Oct. 16.'i94fi fnr and $1,344,388 in 1945.1fAfter reserves for de--^ •$1,509,943 in 1946 rcdcmntinn en wnr-'nr -in« ^by p -16, 11946 for' redemption onUnited 15,: 1946. § After reserves subsidiary pqmpany" in the" Nov;~ States (at cost), icalled Oct.' ' ' (Walter E.) Heller & Co. . - ;. any ' . 147,807 1,494,600 ;6pnai peben., pay.; in U. S. cur (non-current)_ $10,000,000 -12,100 000 Foreign exchange adjustment In consolidation " £"1 £ 1,545,694 credits as a result of the f ;• CHANGES IN CAPITAL STRUCTURE—NEW FINANCING change in the official exchange rale of Capadian currency.^ ,„•/ j . {• :All*ofj the outstanding preference shares; 560,818, were redeemed on Income reported in this semi-annual statement is necessarily based Au?- 27,. 1946 at $2,0 .each plys accrued dividends. ^ ,4a. part bn- approximatipns, and is jsublect io 'adjustments that"* may ; On Aug. 1, 1946 Hie directors recommended to the "shareholders develop in the course of the year and in connection with the annual { that the common stock be split pn a four-for-one hasis for the puraudit of -the accounts..for the full'fiscal year '.which ends. April pose of widening the ownership of the shares of the company. . This $0, 1947.—V. ,164, p. .2018. . _ ., . . . 1 " / . - ; was acted upon favorably by the shareholdersjat a meeting on Sept. NOTE—The . 22,045,323 v; .1946 000.000 CONSOLIDATED '785,908 £-425,778'S "25,357,053 *i975;384 * : 107,177 i *1,250,457 l - Net ti'tf-1 $ class ' ,8nl?a for. fa* year amounted Jb ?$ W.ppO.-yq 'T 333^- 000-com! Shs—i share on 96,000 normal, . surtax ^excess^ pfofits amounted to $375,000 in "the fiscal^year-ended Sept.- 30. 1946. :i- :-4 .*$68,306 profit Earns, per " * Prevision for Federal. ' ♦S279.115 ' $231,190... $237,711 ' . • " Nil $0.69 $0.71 ♦Loss, tThe i-eport "shows that ($54,081 of this loss was incurred in 'rtlie 'two-'ittQxiflift ended'^^epjt;^0p«l.whQe^tii6 " per 'These figures do not reflect exclusively from operations. ;- T 695.467 ,,,— t(Including Wholly-owned Subsidiary Companies) .FISCAL. YEAR-ENDED Sept. 30— "income 'after all charges gnd - Earned *;! lithographic presses ' ' RESULTS FOR Years Ended ■ 1944 v*-y^.MW.'>v"r^;'-v^.-, .-' -■ . > i ' contracts ment Federal- income' .tax---,-, ■ 1946 . ' ;.^946 .rate 1945- ' ♦t$68,306 \(.«'$279,115" $1,621,102 Oct. 31-r-;... 'high speed not . jarring unforeseen, worjk anticipated and we estimate ,. first-mortgage . Hfyes deducting refundable portion cf<:anidian: excess profiter taxes. colnpanies* shafe of the earnings *of a Subsidiary toriiwholly-owned and not consolidated, less dividends received, ♦After ' bond"' 3413. viz., 10y2%, or $105 per $1,000 ,'!* M> .»v». WW...Q in the customer's plant v i - preciation of £•; NOTE—The. $14,059,058 companies' in 1946 and $14,079,286 in 1945. • equity in -subsidiary- company not whollypas-increased from dates of acquisition to owned and not consolidated, Aug. 31,. 1946, as yesult ;$909,968.-V. .164, P- 2950. of profits less dividends by amount of an v : • ;' - , , " , Volume 165 ; Holland Furnace Co.—Earnings— \ Quarter End..Sept. 30— ; Profit 1946 ' ^Intertype Corp.—Declares 1945> $930,600 1944 prpyUion—532,734 372,240 ,- ; v.1943.. $894,275 -V $1,046,683 - before..taxes.:/—$1,401,931 .Federal, tax . THE COMMERCIAL & FINANCIAL CHRONICLE 211 f . Number '4559 .357,73.0 , On ;:on 418,673 •' 'Net profitPA $869,197 /..$558,360 /,$536,565 number of cap.vshrs.__ 900,884 450,442 450,442 ISarnedr-per: "'/- - -t 59.96 ,. $1.24,./ $$1.19 H ivFor -tbe nine naontha ended $628,010 *450,442 !,' A $1.39 . s> icr $1.78 »first , :-16V-p^£13.6',v'; 7.,.;v v.-,>■■■'">■- ; y .-v.* ;..o " • ; ;v\ *9 Months Ended Sept. 30—•» v<«*Net profit. - ——— 1946 <<■ • t$817,742 — >"f Earnings-;per class OB 'taxes and minority -interests. ,-tOn / in" 1946 and on class B stock in - be prior v used for ilncluding $3,787,266 ,$666,666 [from previously credit, consisting, of restoration oi •established reserve-fo:; postwar contingencies and the credit for ';tbia 1 federal excess profits taxes refundable pn basis of to $3,12.0,600.—V,; 163, 3135. p. •• j> '■ Hudson Motor Car r r, (Including <, ■-«; Domestic, English 3 Months Ended Sept. 30—• /Net .income . and Canadian .Subs.) ' , v > , 1946' , "A 1946 Proceeds of ;. common 1945 . (and ; . : ./■ 9 , ^Earnings ♦ zL vsfco. Federal ( ' 1 v . ( ' - sliares. SLoss after Net , - t -NovemhCf-^ 1946 railway—!- $5,262,000 ;896,925 ? 4-3Net ry..pper.. income^-i" «From January %— ,.">1945 ./ i / .-1944 10,649,354 1,121,634 vl,311,789 The. company reports, that-its income Inspiration Consolidated Copper €o. 9.Mos, End. Sept. 80— l'"i:i946 C ,1945 - "Tqtal 4ncouie_. $1,553,768 3nt. 1,420,439 y test.) 3Prov.'"*forAdeprec,. " J, , .4944 . ' * \ | Net . ^ OCT. $270,100 $416,700 >874446 / at . 863,325 $1,458,482 capital stock. - * —• Jan. 1 1 - >v *«Net '•ENo/ of capital-shares—— 3Barned per - -income_—^——-i—_————$611,299; r share—————— " • - 1 r of issuance and .International HetirQla ' com- Month of " ~ Years Nov., ) 946 'ShareT— - t 1946 > - r -1945 ; V 1046 ; $2,297,893 railway*—_ railway :Net ry. oper. income__» 7 From January 1— Gross from railway—... 3Net from railway—. '-Net ry„. oper. -income w -1945 1944 - 833,217 798,527 342,507 289,502 ?4,474;626 27,196,967 3,226,719 / : w , - .. 3,189,069 3,164,898 S.! Rockefeller has been eleoted ls also director a . caused , by of the this recent death .* •> ^Aumojrity.^-V. ,164, International a and p. a member 2692.;" Silver of A, v.. the New ' V . York ;v .01 tools, 30^" profit -*Based in •4-for-l split, -.y —_ "tEarn, per share.. H 194s r/ $1,014,998 - ' ■ shares :-'4944A; $1.06 outstanding and-Federal taxes.—V. 163, p. 285,5. Interstate Department Stores, Inc. Period End. Dec. 31— after :- sundry receivables - December Sales 1946—Month—1945, 11946—11 Mos.—1945 - $6,811,476 $49,131,308 $41,613,889 ■ * ■ , .directors declared a dividend .of $1.25" per share on 'P^ejred 8tockv h^PArvyajue,;.payable: M&Mh 31, next, .to holders ^ Ma^ch, 15i 3947' A similar distribution was-.niade .our Sept.3 Oct. ?^°C' ^'riast year- which compares with 50 cents 2, 26 and each on , rw Dec. 22, 1915.—V. 164, p. 727. April cents per gains paid • " to distribu¬ share in for tho November [ ' . " Graham-Pa }ge Motors Net 164, Corp. 164, p. 3292. taxes. fLoss after .tax ~j:!;•/',& and $1 common 7o preferred, of in 4.% preferred, v'- share new cash. would receive 66/1 OOths of share a of ; ' •. receive shares-to be ■ " ' - 9 Months Ended ;»" j' \ , Sept. 30— common ^."733,708 2,248,523 $2,959,173 (net) 929,196 — . 1,675,304 1,198,15® $2,029,977 $775,745 : ' ,$1.45 ^ shares and $386,537 $Q.68 after outstandmg.—V, 162, ■ > $477,154 >$0.81. dividend require- p4 3074.; v ,, :!;; Sales . :; 1 ^ J r d.*"»'•' ' , » ^ 1946—Month—1345 .. 39,664,652 - " ' ' ended —V. 33,566,569 251,134,618 222,907,671 3145. p. •/>:, Lake Superior & . ' November— from railway railway....,— — ! from railway railway—— Net from Net 164, p. : 1946 115,575 11945 $187,025 - ,. '53,782 36,751 1944 ,"$160,237 /47,488 > V 30,876 V 1943 $165,451 Zv 33,231 16,709 2,213,221 2,864,505 2,910,522 651,383 2,913,922 1,412,758 -1,432,383 377,051 1,429,823 775,192 780,521 826,681 and Federal taxes.—V. 164, p. 828. Bryant, toci—December Sales Increased 11%— Period End. Dec.'31-r^ _— UV. 164, / $258,230 ; 2959. /'■•After charges Lane operation during the four weeks 2,736 in the same period in 1945. ■•/;> / •/// ";/v/!, ;v ;//;/.//•' , 98,397 — ry.. oper; income. -^•V. ; 1946—52 Wks.—1945 Ishpeming.RR.—Earnings-- ry. oper.' income. From January 1 Gross 1946, as 56)235,373 -41,873,749 567,461,071 452,842,261 average number-of stores in Dec. 28 was 2,621:;-as against 164, , 1946—12 Mos.—1945 , 1946—4 Wks.—1945 u_: •[./-"•The / $1.53t * Kroger- Co.-^-Current Sales Increased 34.3%— i,s$U3 $1,237,398 .900,00® 1946 The company had 696 stores in operation during December, against 705 stores during December, 1945.—V. 164, p. 3145. : carry-back; $2,178,244 ,1.940,846 //i 1945 " ; $1,909,90® 915,550 share-w^/.*—$1.52 t /Period End. De.C,31-^ 300,000 $9,007,236 ''3,270,778 " 734,708 1-2,823,506 * $1,897,229 (S. S.) Kresge Co.—December Sales Rose 18.2%—? ' $$397,808 "•>1945 : " - shares.-— Net • ,472,712 >3,531,308 — ..now ■ '*■ 1944 Qo.—Earnings-»- &. amortization 1,387,001 .1,000,464 •' • income———_w—— Sales I 1944 497,861 ♦period End. Dec. 28— , , 1945 ,1,273,606 preferred stock Number of Net 1946 — on ; $16,102,672 $14,413,147 $14,232,86» ^ Gross from ... p. 3145. !. 1946—rMonth—1945 1946—12 Mos.—1945 $3,991,113 $3,595,788 $45,203,666 $37,452,225 Co.—fEarnings— -.>ahd: taxesa sh. old one Koppers .Co.r.Inc.—r-Earnings— > 603,759 ; " • ; 300,000 i_— •Period End. Sept. 30— Net -.profit after ychgs per common after charges ments \ .7 Nil: •*•••■>• r:$1.41- 2019. Kawneer preferred, ' 1,508,610 to. Kaiser Ac shares—300,000 charges and Federal v 164; p. 3414. ■■ p. . 4 ; $47;367,471; share——w—i--.——. income of 5% !/;■! Net' profit ; •Earnings, per ^common,, share ./ [Based on.the 481,119 common v 1 ~ >■'•' deductions - of ■ of sales——— Net $5,864,201 —— Income = common../.-. stockholders would Earned per — Earn, semi-annual totaling 71 capital $24,747,$17.45 plan filed with SEC, holders would receive: 7%; preferred, one share of new 4% preferred, of common and $9 in cash; !.;:v;>-( of share share, of .4,447,439 '' '''' Interstate Bakeries Corp^—$1.25 Preferred 'Dividend— $he . „ regular 164, p. 2959. Federal tax, provisions Sales " to to from >; i' - * —— 11 'MosyEnd. Nov. 30— Taxes modified share Preferred ;Net $47,367,471'- Operating revenues Operating/ expenses Property retirement —V. $29,969,603 declined '//v."" 407,000 of the 440,000 new issued, and common stockholders 33,000 shares, i Under the old plan, preferred holders were to receive 396,000 of new /common and common holders 44,000 shares. The ^amount of the cash Is increased to $194,871 from $191,484. A—V. !64, .p. ;3292. t ■ ■ > Kansas Gas & Electric. •. notes from share per / Kobacher Stores, Inc^—Earnings— ['^Months.Ertded Get,.Sl-^ ,1946 *8,775,536 ; and special tool installations in progress Operating income — Seriest :.* 196,313 and ^Kalamazoo. Stove. & Furnace Co.-r-Earnings^ ^9MOTllhsEhd«dSept. 30r- ; vr V ' 4946 1945 loss—.——A—: • $$290,634 $$422,729 v decreased value • 2,000,000 Project. equipment at Willow Run, Michdies, jigs and fixtures (less amortization from ' # assets asset -share of 6% preferred, one new share shares of .'common, and $8 in cash, and common •Net Earned per ; the severe (approxi- .$11.2,197v-^—4——• •After *« - 10,5?3,442 Corp. at cost market. $1,250,000) , ^V.S 16T"pT~3r44<7T"^"~": $6'844'095 t -*>' • '[$474,860 $0.54 all common 1945 $284,664 $2.54 periods en 364,792 t After charges , \ net net each each Each > / hew ! 58,047 10,934 >115,410 1,188,511 : —, Long" Beach,* Califr •No.Haf capital the each For ;; 1,029,479 ! Co^-Earnii)gs^ (Excluding wholly owned Canadian subsidiary) Quarter Ended Sept. the that in addition "distributable income"; / eight shares ■ .; •Net " *?Net [ $17,232,258 Jl : •After^'depreciation of,$78.835.—V. ; of 1,717,833 to 1,745.619, the report comments market decline during the latter half the distribution of $1,130,529 of capital gains previ¬ of '<$50 par),' li shares 09,2285 772,720 deficit^^^W/.—./-^.—^009,563 Assurance City Airport • shares . ; 116,128 iSundry accounts payable and accrued expenses 1,326,678 Common Atpcki par Capital, surplus..— "<value,-,.$l)__—4,000,000 50,466,274 Earned a of amended 4 .• com- . director of Rockefeller Center. Inc., Eastern McDonnell Aircraft Corp., • Merchants Fire lanes, Inc., Gorp. of New York, t 31, i946———w 14,236,847 WestwillowVillage Housing International Nickel Co. of Canadav Ltd.-—New Dir.— Epany, to till the vacancy in the-board «©f Thomas Morrison pf Pittsburgh. number - .;/i'iFra?ier:>;JParts Corp;-/./.i-.--/uL/. . from For • ^ Accounts .payable to Graham-Paige Motors Corp 27,115,106 10,200,213 3,838,492 8,543,746 ; the year .the from >> 32.601.231 . ^ i ——/ Corp and TxAdefaccounts; payable—: 976,809 •' •/' ten _ -'-J quoted Advances 347,831 28,176,769 7,960,446 279,506 • and report For ; ■ L>eferred,charges-^-^.-—-211,492 ;1943 the 1 Machinery, equip, $2,732,539 result a while /'./Under • ?> 6S.m, ;v - ■ A..; 'J' '*[ ■* /[■Total •*t^Y®'oclcefel'ler J, "J $50^466^274 LIABILITIES—. $2,578,534 of company, a subsidiary of Long Island Lighting Co., has modified recapitalization plan to conform with recommendations -made by the SEC to increase the distribution • of new common and 0, cash to preferred stockholders. ' 1 ' • i ' TOtal * —V. 164, p. 2959. l ' „ Portsmouth Steel mate "TLt ■ assets Kings County Lighting Co.—Modifies Plan— its $15,009,568 of : net , • vendors Earnings— $2,477,180 258,720 '.5,964 " to Special , , International Great Northeyn RR.from ' ' Property, plant " *Inc}iides $580,000. .from ijsale. ,o.f real estate! not used in :-4Based cn 4,200,010 shares operations.; .outstanding. t'Oecember sales /ndiqate ft figure in excess of $5,000,000 also," C. Russell Feldmann, President, also "disclosed.—AT. • 164, p. 3192. • ^ ; ; from •«' 3 Advances : . November-^. (-i-1'--' r Inventories Qapital stock . Ended Oct. 31- $$5,504,140 $40,810,028 $36,244,180 250,317 • 1,012,124 p., 882.325 -$$0.21 ; $$0,.84 f $0.77 - ^ Reconstruction; Finance. Coj:p.--SaIes,and:Earn.ings-^; .. 9. p. the year " - - „ Graham-Paige Sales Corp s-GrahamrPaige ; ' :• $l,485,493i . 83.672 JnteraatlonaL^Corp./,———-w-— ; $1,890,939 -Quarter Ended Get. 31—r f' 1946 1945 /•Net profit^i/-— $159,921 45® / Earned per sh. on 384,465 Com,. ahWefSn——.-J $0.36 ; Nit After charges" and taxes.' [Net loss!after applying $119,637 carry¬ back of taxes at normal rate and excluding refunds resulting from [.unuSed excess profits tax credit or loss carry-back.—V. 164, p. 2547. 2,892 , . ' .$393,948 :|/[;KIng-Seeleyi (Corp.—Earnings— 15,023*851 .-^—'$17^65,043 distribution^-,- *. , ; Customers [ . $i;27 ^ 1,266,493 $556,868 The 1946_ /[Accounts receivable: . >' ..1,204,370 /year, the .special 'distribution of [amounted 65 cents g ;share.—V.. r ' $00,000 $1.02 "as tions 141,608 , "ASSETS— 600,000 — charges and Federal taxes.—*V. 164^. p. 3414. $2,751,983 . 312,050 Observing that during the - - ^ - iCash-;;/,////:-— *$762,741 $3,095,308 $705,999 . > ' The $14,320,720 OF- -SURPLUS - Net loss for period of 10 mos. 'ended' 0ct." 1945; $846,872 ,290,104 4$14.!8.M/': V ; » ;,.y, ^Balance, at Oct.;31; 1946-^ 1946 $2,738,435 13,553 -$3,22^077 • Balance.,at Jan.. 1,.1946-,., income Dr2,505 . —^r_—$14,236,847 ^ 1, "y A/ ■ tlnclydes" Arizona - $3,097,813 10,970 /Keystone Custodian Funds, Inc.—Report— • / Parts Corp > *. Balance at Oct. .'31,1946—1— Earned surplus-r-Deficit: $1,10 $695,028 Dr588 '•••/- :•.; ;/•• X'*'\*.■' j,! • '« v .$3,085,169 - . $1,294,534 $1,23 Sept'. 30—-' Period—• •Consolidated sales "■Bet profit After taxes ' ' $1,461,755 13,991 Keystone* Funds amounted to mor® i than $153,000,000 on Nov. 30,? 1946, it is stated in the report for th» ; year ended on. that date of the Keystone Income Common Stock Fund Series ,"S-2." ' ...»........;v:-> /jnon>(Stock -to;underwriters,,after deduotii^/' underwriting^ (hscounts- and / commissions^ i;, • of., $i,9J8Q.0Q0 ,and—Jess $1^00.000 /par value) (.-allocated jto-ycommon stock—32,670.000 ?• Expense .813,592 $1,086,977 $0.92 164, 100, .' /f Proceeds f romsale of 1,800,000 shares of ' International Cigar Machinery Co.—Earnings-^ ' V. 1946 J CONSOLIDATED STATEMENT '/ •Balance $299,500 1,266,493 $1,864,677 $847,460 ' . i> — ously; realized, total 31, produqtiohT.—-T--T-S- , $848,962 ,$0.72 ."Gross income of 1 1— ;:'Capital-.surplus^;";>^; 29,900 T"*' 1,204,370 $383,962 290,104. $559,355 Vl; Net incmoe -' expensesr:^rT^':!--T*-^-~w.K,^—2.521.053 loss—!-■ / . $3,229,030 • y > ■lAIr \ j , $298,400 ''{CA and *On 1,181,967 shares- -of tfiax.—«V. 162,' p. 2643* Daurance 1 , alphabetical near ' — $729,796 312,050 ,j income / "S-2" Fund increased pidor to $2,888,791 11,014 $882,766 - .Interest & other deduct., 1 - 406,4Q6 9 Mqnths"Ended as MONTHS ENDED —- , - , - Gross .. - ■ ' ^fet .. Balance loss BroporUon; .ot.-loss; applicable -to minority, int.--of GrahamPaige Motors Corp;; in Naiser & Frazer -1943 > $2^45,865 .^$2,580(554 157,091 * -«>153,295 * A -.Net. income, without -^deduct.. for.;deplet.« .••Earns, per share—A— per ».'«•»• - $2,874,803 ' • —L ■■pbsolescence -^Earnings ' I- •" r • After - BALANQE SHEET, [QQT; .31, "1946 •/ Cost; 9f;salea Jnpi^iiifg. -exps. Adm^inlstractive, and^kelling , 2692. $J.; S. income taxes, etc. -{' A i . ' Other -deductions---— Earnings— , $1,931,223 and .bond exp/.li. 3Res. for contingencies- V. > (&:> Subs^-^Eartiings- 10 CONSOLIDATED Total income-: :wholly, owned subsidiary,' C.bmpania f$44,249;fpr...the-seqomt quarter<pf 1948.—V. -164,,p. ■•■ >,$.2.44 MisceUaneous;itfComeit/.ll^^-,—< 9,045,487 for the quarter ended Sept. 30, 1946", $43,034, after taxes, against net income of of ^' 4,794,398/,,4,050,661 1$4, p. 3144. TDistribuldora Westinghouse, S. A.., net . $3,231,513 X)r2,483 :* .o*'.*''-V T--'fV/!•5.-''• EARNINGS -FOR '^415,043,'^ "•> 124,250 - *v»v [-'Net' sales—— 10,084,087 3,160,636 910,812 , > Tndusiria Eleptrica Dc Mexico,1 S. A.—Earnings— a "W •" I - Net .operating incoipe Other incmoe (net) \ <•; .^aiser-Frazer! /Corp.; 'V1943 • >=v$886,255 .■ 8,697,734 • ,2,393 v . railway—- •beficitc-V^ .-showed •'«" always •: 153,580 frqra .raUwayi ;2,158,306 \ $2,410,000 891,911 NOTE—'For mechanical reasons it is not always possible to arrange companies in exact alphabetical order. However, they.,are - 385,077 114,055 • T^Tet ry.joper. Income—l ; ' v ^positionjam possible. $932,576 '-:;$753,219 ;293;384 ?>•.414,440 4-: ' y l/i"*" 11,836,953 $718,783 Dr588 ' that 1 " $874,539 <; fjtJeti(^rpm;-raUway----.— .Gross from 1' • [••...•• ... $883,355 > & other deduct. Combined ■; Illinois! Terminal RR.—Earnings—- 3 - t • 11,835,926 : adjustment to give^ffftct . from '** • 3,088,428 ; EARNINGS OF COMPANY ONLY : i;;; Period End..Sept. 30— 1946—3 Mos.—1945 1946—12 Mos.—1945 .Operating revenues./— • $3,790,429 $3,600,685 $14,275,573 $13,864,109 [ Oper. exps. and taxes— 2,942,969 2,905,657 11,177,760 11,125,674 credit arising; from loss carry-b^ck.. 4 • Gross income underwriting.—V., 165, . -•Gross J- , Subs.)—Earnings— 3,119,389 1945 company on Dec. 26 filed a letter of notification with the SEC ) for 10,000 non-voting shares of common on behalf of Daniel C. Gainey, wPresident, •to-be offered ut-$9 a share without A 5 -::;For the quarter ended Sept. 30,; 1946, net loss was $85,233, after ;«charges .and after adjustment to give effect to Federal tax credit fr.Qm loss carry.-iback.—'V. 165, p, 74. v ji ' The t$360 596 (prising J ' .'i ' (& : Manufacturing c-Gq.; >pwatbnna»^ .(-■»' Co. —— ♦.Interest -v/-, v 119,12a - ——1- J; common ^ax $978,000 "•j,- A-* - $0.49 , $0.18 tlncludes Cleveland Globe Stamping ,divi¬ ;.i944,: -»the? dette;'Of acquisition- thereof, sion-operations v; tOn 593,865 . ; ;■ ' $3.49 1946—3 Mos.—1945 Net operating income Other income i.net)—— i $1.06 -share-lj-__—$5.58 : ' -.v> taxes !'4 ■ -—'! rvy. m, p,:.«692), v. %With' 1944.:' Nil - "-After, charges and taxes, : 1945. - &-§$187481: per share-.-— -tOn 1,- 995,016 1946 , , sh.-,' com. Kentucky Utilities $78,583,243 $73,193,024 9,018.000 5,938,000 3,756j000 3,528,000 . Corp.z^Eariiihgs-rf a;; Months Ended Bept; 30— per will 1944 . 1946 taxes_. . ; |Iupp; $212,843 384,980 $243,569 - ! $218,619 395,984 $571,058 Subs.)—Earnings— Sept. 30— l- ^ 331,968) $1.31 $1.14 $1.10 •Based on 150,000 shares of common stock fiscal outstanding at close o* year, After, allowing for preferred dividend requirements.—V. 3074. 162, ..'.V - ^ 1943 $6,746,663 456,299 237,680 p. contingencies (1945, $1,500,000 and 1944, $3,150,000). stock.—V. 162, p. 3074. Johnson (& Net Jncom^ ;Numbfer :of IJari\ed per 1944 $7,105,273 taxes—— °Earnings $1,491,662 $0.54 ! .9 Months Ended 1945 $8,100,085 628,559 -967,042 1946—12 Mos.—1945 Operating revenues—— >$4,002,744 -$3,807,211 $15,067,439 $14,711,750 Operating expenses and.;.'.';:;::.'-,. • . . for reserve A.1'- ."- ; - /♦Netj. 1946 $11,230,304 charges—. ".Net profit———.—— . underwriting. $1,475,558 - $2.54 charges ..and.^Federal -taxes ^ j after Federal Subs.)—Earnings—; — - T ■ sales Net for-working capital.-^V. J64, income Aaxes. charges——/t$508,-965-/;• *$534,21-3 Shares outstanding—-.^'—,^:——..—-——— /L,8J5,783„ > 1,685,810: ^Earned per 'Share JiJJ— v >$p.28' • .--.v 'V-Nil" *Los*. ' tAfter deducting $337,196 Federal, - State and- -foreign > income ' >7taxes,-«vV...163l <p.-3418. ' > ' *. , : 1 .without be. accepted. will and " Sept, 30-^ ^•Profit.^before, income- < •. i units Sales 1945 * •„!' - ,50 obligations ~ , * < L after ■ (-. i ,, of $1,518,496 ^/Johnson '■ Co.—Earnings— Ended (7946, $1,050,000) ";•? "//-" • . payment per share -"".After- shares .opera¬ A ; ; ," 9 Mos. End. Oct. 31 Net of , Island Creek Coal Co. (& ; poten- current nt ions ".amounting payment a Period End. Sept, 30— /•Earnings years, oipecial 1946, Corp. of America,-N.-Y.—Files with SEC $ p.>3144. stock ; common of ' £No subscription for. less ;than $0.97 s quarters 164, p. "2547. -•v •/ •- > $1.22 share——:>//'/• $0.63 ;~i,. '9 Months .0After,.reserve,ror contingenciest; Federal income;,arid^excess;profits - '/.'•Net ! 785,000 shares of :'A • , four .• $1,281,403 ' the of made'.—V. ■ 1944 $1,088(909 - each was The. company pn Jan. 2 ,filed a--letter of notification with the SEC for 55,000 shares ($1 par) each 30p cumulative convertible preferred f.and 'common- (par 50 to be ottered at $5 a. unit, consisting of one share of preferred-and one share of common 1 1945 directors declared a dividend of 30 cents per share payable March 15, next, to holders of record *7 i i Kennedy's Inc.—Earnings- stock, |; >« Intra^Video V- JlQUdaille-Hershey Corp. (& Subs.)*r rEarjiin.gs^-' the 8, common - . Sept. 30,. 1946, netilnconae was $1,200,206, share, compared with $1,500,051, or $1.66 a share,-lor the months of 1945,; based on presentshares -outstanding. a nine . •;!—V. Jan. the March :!, 1947. : In "'25 cents per share , Larger Common Dividend * 011, 1946—3 Mos.—1945 $229,887 291 370' common shares. —V. 155, p. 1312. 1946—9 Mos.—1945 Lane-Wells Co.—Earmngs— Period End.' < ; $2Q,679 $542,132 ♦: $262,255 •Net Sept- 30— -profit:—,——,—— No. of $0.79 $0.97 $1.86- $0.90 capital shares— Earned per rhare •After charges and 1946-r3 Mosc—1945 1946—9 Mos.—1945 $253,000 $128,400 360.000 360,000 ,360,000 360.00® $0.70 $0.36 $1.63 $1.08 taxes.—V. 164, p. 1872. $604,100 $388,400 Monday, January 13, 1947 CHRONICLE G0MMERCIAI4 & FINANCIAL THE The the limits of the field are not yet defined. subsidiary, also has completed as a good its sixth well in the Chance Field of Pratt County, Kansas, production is anticipated as. Electric Co.—Earnings— ..'-.v.". '/ ■ 1946 Lawrence Gas & Sept. 30— 9 Mos. End. Federal taxes __™__r ^ 1945 $566,867 258,909 $373,052 producer Col. Barton added. $307,958 r-, «! Income Net * '$577,563 .'••• 204,511 after charges Net in '• " ? November— —y. 162, p. 783. v/'V.1; substantially all obtained this year. Contracts foreign countries.Approximately two-thirds of the total active, contracts are for oil refinery construction, the re¬ mainder being for the iron and steel industry.—V. 164, p. 1873. *:: ' • . ? $3,277,005 Net ,488,222 Lehigh Coal & Navigation Co. (& Subs.)—Earnings— Net '' • *74,544 From January 1— :/ Period End. Sept. 30— "* 1946—3 Mos.-—1945 1946—9 Mos.—1945 ♦Net profit Gross from railway™™-,42,583,700-: 41,930,967 41,612,077! 39,867,645 $828,444 $587,232 $1,892,408 $1,495,263 No. of capital shares:— 1,929,127 1,929,127 , , 1,929,127 1,929,127 7 Net from railway™ !! 9,053,620 11,065,172 10,540,933 .•> 11,542,262 Earned per share ;/!y $0.42 !/-■: $0.29 $0.98 . V $0.77 1 Net ry. oper.. incomfe™. 884,722 .1, 3,345,903 2,779,338 • 3,814.038 railway,™! from Gross $3,809,114 . designed. and constructed. ' This total be of- plants to work include $3,406,570 from railway _™"':v-;<710,934--r". ^593,361;!/ 670,273 ry. oper. income.™: ' ■ *75,771 nil,306 ' 104,730 1 process $3,351,600 $50,000,000, above is ? z-??--V yyy ^ : 1944 ■/■;,'? 1943 Q,; RR.—Earnings— "~ 1946 1945 Long Island in cost the .in , discovered by Lion Chemical The Chance Pool Was September, 1946.—V. 164, p. 3415. 7 -.' ' will, start the year with, a larger dollar volume of than in any previous peacetime period, measured company contracts • ChemieaLCorp., a The Lion in -lo McLellan Stores Co.—December Period End. Dec. 31-— a 7 Sales"_™_;™M_'™.r_™„_ 164, p. 3145.^ ,,;:-, ■—V. McQuay, Inc.; ,™™_™ . Sales Rose 10.3%—; ? 1946—Month—1945 1946—11 Mos.—1945 $8,155,053 $7,392,127 $46,083,652 $40,694,997 ^ , 'y., ?- Minneapolis—New Directors—j - Roy J. . taxes.—V. 164, p. 1329. and Federal ♦After charges * ' England RR.—Earnings— Lehigh & New •Deficit.—V. - • 1945 1944 $468,910 $385,285 276,529 140,491 143,792 55,301 85,778 83,314 42,294 Net^ry. oper. Income. From January 1— 158,886 ra,lway_. 6,213,160 5,276,469 1,259,338 5,828,733 - - . 1943 $501,762 2959. 5,555,414 1,982,097 1,206,737 November— rahway from from Gross 1,953,042 1,148,522 income. -V, 164, p. 2832. Net oper. ry. 2,01l;991 1,207,704 842,847 net corporation's fiscal • of the Dec. 31, 1945, was $52.71, $5 per share paid on June V..r changes since June 30 showed net security The comparable net asset value on deducting the capital gain dividend of year. after 25. 1946. -. '' Net ry. Net Net r£* * •Interest earned—•••• !^ 6h U. S. Govt, oblig. *•*4 7/1946 ' 7' Other bonds Gash dividends in ^Other income Total Salaries - *. u fees 140,088 6,500 123,659 4,800 ^.*.™.*™™™_ ;Directors' : /^Contribution to, employee.s retire.; plan-.. Manage, compensation♦Registration, etc., exps. Prov. lor franchise & *- < , misceU. taxes — 20,560 ' • 62,500 34,857 —— v - 32,562' . 62,500 20,671 62,500 33,396 . • ' ; ; 15,765 10,612 ** . Savannah RR.—Extension—, 190,498,169 83,182,527 23,978.143 ft ' * 1 SEC—.. W ^ '-h. T V ?- , 7 ' ''Jy " s; « Magnacorda Corp. of America, ; . for • '-'y'; 'f Brooklyn—Files with '• " - filed The company 6tt.Jan. 2 (no par) stock 6,000 shares a letter 6f notification Vith the iSEO and 2,000 shares ($25 par) stock. The and its. ' ' I 1 v •Includes ' ' 1946 Calls.4%% Debentures— Year Ended : ' Aug. 31— '\\i . outstanding 4V*% sinking fund debentures due May I, redemption on Feb. 1, next, at 102 V% and made at the Detroit Trust Co., trustee, 201 West Fort St., Detroit, Mich. ; ■ , Immediate payment of the full redemption price, together with ac¬ crued interest to Feb. 1, 1947, will be made upon presentation, and surrender of said 1946 1945 1944 $18,840,495 $30,833,761 $27,519,224 sales— Net of the have been called for interest. Payment will be Subs.)—Earnings- McCord Corp. (& 59,610. All . Harden, of Detroit, < , - 1956, estate,—V.,;165,' p. 75. expenses u non-recurring ^working capital. 1945 taxes™— ♦$760,347 $202,983 " 343,000 / 343,000 $2.22 $0.59 profit of $119,877 from the > sale of real ' Ended Sept. 30— Net profit after "charges and Common shares!™™ Earned per share ' Baker, Weeks & Mich., negotiated the loan, Co.—Earnings— Lytton's, -Henry C. Lytton & 9 Months ' 90,537 8,900 ! '• ! 36,700 V S 32,608/!/ 28,902 '.i/28,938 *S. '• U ■ \ •//•> ■ i— ->:Net ordinary income. ; $1,837,797 $1,324,328 $1,429,640 $1,370,976 Miscell. 7,033,637 k 62,500 29,648 ; , of ■;./ 7/! ' - . , • -—™ -—i_ ' • ' $1,651,1091 . , Nil tax The deadline for. assenting to the plan for extending until Jan. 1, 1972, the maturity of the 5% bonds, which matured Jan. 2, has been extended until Feb. 37 An ICC examiners' report on the extension proposal on which hearings were held is expected soon. The issue is now technically in default with failure to meet the maturity on the $1,529,000 of the bonds outstanding. The road is controlled by the .'Seaboard Air Line RR., although the bonds were not assumed by the i reorganized;Seaboard.-rrV. 164, p..3293. > v t .. first time in several years.,' Facilities have been increased,, with the. 3,620 $1,677,462 • 104,583 : 6,400, .4 close of the war has; pro¬ be Issued in consideration giving wholly-owned subsidiaries with improved f; 6,000 shares will of certain to incorporators the 2,000 shares will be company control inventions and >•**.; sold at par without underwriting. Proceeds will be used for working acquisition of the /Marion /capita).!.!■;:-•*'!7 (Ind.) plant and the expansion of the Toledo (Ohio) plant, and the £?•' + V i •* ^ \ * L < »>• '-'a, y addition of new machinery and equipment* ; 1 ; - . ; / .(The R. C.) Mahon Co^-Arranges $2,000,000 LoanShipments were more than 20% above the previous year and once Private placement by thiscompany of a $2,000,000/15again establish a new high in volume. Profits for 1946 wiU be /above the dividends paid during the year. year .3%% loan with the Metropolitan Life Insurance A very substantial volume of unfilled orders insures the requirement ! Co. was announced on Jan. 9. The proceeds will be used Of capacity production during 1947.—-V. 164, p. 2288. to retire the company's 4%% debentures and increase The $31,242 '55,294 $ 1,557,870 !! ,73,084 67,399 63,818 - 41,113-'. $2,133,434i-'$1,610,033 Li Income $0.04 ; ™'™™ tLoss after giving effect to Federal $.46,000 and profit qn sale of equipment results for the w / . 189,400 y. 2,050,051 part:-- Werbe,- President,-, on Jan. 2 isai'd in first full year's operation since the vided this corporation 'l944 !/// 1943 vg-^^ 1945 . $66,861 $32,283 $38,629 "V1 i 26,881 - !./ 43,987 ? /• 52,454 „™' 1,977,266 >1,446,848 £1,498,843 securs:!' !-! 21,312. ; 23,097 20,137 V; On ^Taxable div. / ENDED DEC. 31 !. T.- C. 1945 t$140,537 ; and charges. credit, of carry-back $17,158,414 Ind.—Has Record Sales— Lynch Corp.; Anderson, ■ . 1946 $8,280 189,400 ' . ;.V;$126,453r-y,: 164, p. 2959.. —V. the corporation's fiscal year. !!/:./::A-y::r.x The largest single concentration of investment's income oper. 22,641,858 14,407,717r 21,745,165 ' the end of continued to be in piiblic utility securities, which had a market value of $22,259,904. The 'next largest holdings were in the oil group with a market value of $15,907,350, followed by securities of merchandising companies with, a ry. 182,645,758 196,140,879 57,744,999 75,572,380 26,739,804 railway from taxes which Co.—Earnings— share™._i._„_— per ♦After 1943. 2,701,877 7 3,079,610 / 6,927,452 1,419,517' 1,618,6422,108,206 1— railway...*. 155,651,086 from Gross was • - . • , underwriting group capital shares Macon, Dublin & income oper. Earned compared an profit! Number of the headed stock of McQuay, Inc.—V. 164, p. 3293. Ended Sept. 30— 9 Months •Net »weeks,;.an increasa«;-of RR.—Earnings— ' 1946 7 "'; 1945 1944 7 $14,620,048 $14,251,929 $17,862,227 railway,™,.. 7, from 4 . From January during the six months period. corporation's assets on Dec. 31, $33,919,838. ' * ' ' ' ' ) i " ' ' Cash, receivables and government bonds on Dec. 31 amounted to $15,655,539, or 15.1% Of the corporation's gross assets of $103,634,209. This compares with a figure of 8.1% of gross assets on June 30, 1946, STATEMENT, SIX MONTHS November—" from railway Net ' 245^ or approximately $1.60 per share, The, net unrealized appreciation of the INCOME kwh,.-fOK-tbe. previous 752 Gross Government bonds. gains of $3,119,- ytjlde of $8,195,910. - .. McWillfams Dredging . (Ky.)—Weekly Output Louisville & Nashville - corporation's portfolio sales on balance of $4,533,567, exclusive of U. S, There were realized, for Federal tax purposes,, capital The 1,415,790,000 with. 3.9%.—V.. 165, p. 75.- >. recently /sold 50,000 shares of common ; / : week last year, an increase of 36.9%. Output-for 52 weeks ended Jan. 4, 1947, totaled 1,470,300,000 kwh., as < Dec.' 31, Robert Lehman, President, of Lehman Corp. on of $52.39 per share asset value -7 corresponding Corp.—Semi-Annual Report— (The) Lehman A of 32,953,000 . ! ,7^'-, Company & Loewi ; the week ended Jan. 4, 1947, with 24,067,000 kwh. for -the this company for kwh., aS compared output Electric V.■ ( • Electric Co. Louisville Gas & totaled 1946, has been reported; to stockholders by In a report covering the first six months .•;,/ .7 the board.-- /;;; tf. ■ SEPT. 30, 1946 and taxes. s— — $525,692 400,000 common shares™™™——• $1.24 share on 164, p. 3415. V. LOewi & Company,-investment bankers, with home offices In Milwaukee, Wis., has been elected to the board of directors. At the same time, he announced that Robert L. Vincent ;< President of Vincent /Brass & Copper Co., had also been added to 7 profit after charges Net that Mllo F. Snyder :; Inc.—Earnings— MONTHS ENDED SIX FOR EARNINGS of Milwaukee, Vice President of 7/ Subsidiaries) i- (Excluding Swiss ' Earnings per railway from Net railway... from Gross Net \V«/?' M , Lnngines-Wittnauer Watch Co., . 1946 $572,873 p.' 164, Resch, President, on Jan. 3, announced " />. bonds.-—V. 157, p. 899. tNet. profit™-»™™_™—— 1487,243 609,546 , 608,192 /'♦Earned-per;;share-!u-!-*^*,w!^^/^v7:;*($1.467!->ji«>.$1^1.-;-77■^••:,$1.90:; NOTE—For mechanical reasons it is not always possible to arrange companies in exact alphabetical stock as 6f Aug. 31, 1946, order. However, they are always as near alphabetical ingf reports, etc. tTo cover costs attributable ;to current after allowing annual dividend requirements on 37,352 Shares of $2.50 position as possible. > ■ • '-.H-V BALANCE SHEET AS OF CLOSE OF BUSINESS, DEC. 31, 1946 tvp'j preferred stock now outstanding. The company also has 4,422 shares ASSETS—Cash in banks, $7,618,747; receivable for securities sold, V of funding stock which has no dividend rights, but is convertible at $95,195; dividends receivable and Interest accrued, $457,909; U. S. any time, share for share, into common stock, tAfter taxes and i Manchester? (N? H.) Union Leader—Loan— Government obligations (at average cost), $7,446,157;-other bonds (at charges, flncludes $125,000 credit, representing reserve for plant A first mortgage loan of $600,000 at 4%/i^r 21 years/ has/Keeh reconversion and miscellaneous postwar charges returned to income.— average cost)., $2,620,844; preferred stocks (at average cost), $3,714,719; y placed with an insurance company by the Charles F. Noyes Co., broker. ^bohimon stocks -(at average cost), $46,939,769; ffiibcella'Beous invest,V. 165, p< 75. * - , — - !*r ittfehts and advances, $566,020; real estate investment, $1; total, $69,7'v: 7-•; 7V:/!;/;/7*'!!;' 7 ////i £ The financing was in connection with the sale of the newspaper prop¬ erty of Mrs. Frank B. Knox, widow of the late Secretary of the Navy, ^459,372.y. McCrory Stores Corp.—Dec. Sales Increased 26.56%— and the Muehling estate to William Loeb and Ridder Brothers. ? "'♦Registration, transfer, custody - . legal, auditservices, -r of securities,, insurance, ^^ ♦Based on- of shares 270,084 common * ^LIABILITIES—Dividend payable; Jan. .7, 1947, ■jl $5$4,b33; payable for ? securities purchased, $4,063; reserve for accrued expenses and -$155,151;-deposit received for securities loaned, $642,850? capital taxes, stock *($1 par value), $1,947,077; capital surplus, $80,712,982; less 300 shares .held In treasury at cost, ,(Dr)$9,799;/net realized profit on investments and speoial dividends paid (Z)r)$19,638,615; undistributed net ordinary ■ total, $69,459,372, a NOTE—No provision has been made for Federal income tax on'net ordinary income,.; as the corporation has elected to be taxed as a "regulated investment company" and intends to distribute during the fiscal year substantially all cf its taxable net ordinary income, thereby ••incurring no Federal tax liability on such income.—V. 164, p. 2019. Period End. Dec. 31— I Sales The _r December,11945—W in 1946—Month—1945 1946—12 Mos,—1945 . yyyy-y • -_v;/!•;:/7J!!7!!/;:777,?!y!!!;!'!7!!v7;,!;/7^ ■, :;/■♦!/ $13.739;471',$10,856,271 $84,5.69,539 $71,282,195 Manning, Maxwell & Moore, Inc.—Earnings—. stored ip'December, 1946,'as hgainst 199 164, pi 3145)L'- u • ?!V " %" *' / ? 5-7.!.;?/ EARNlR1^' FOR RiNE-^MdNTllS ENDED SEPT. 30, 194^1^ operated 200 company ,Net income /Net J sales™. Federal; and State taxes —V. 164, p. :: The - Chase National .......mi... -7.;/ -•./ 7profit^-!!-!.v!—$1,381,894•/> $824,760 capital shares 472,600 472,600 1Earned'/per.jshare™™^™.--i-. .$2.9Z*^ ;»s -$1,747 York has been ap¬ stock, $5 par value.—V. 164, p. 2288. ;;'-7•!; '7 Bank ^r : of the City of New ,164,'p. 1873. t _ " . ^-Xerner Stores ' " * " • — Corp.—December Sales Rose 10.7%— ~ 1946—Month—1945 " 1946—11 Mos.—1945 $13,024,453 $11,768,672 $91,320,661 $86,081,316 'est in -BPIC— Sales ....J. jT-TV. 164, p. 3145. f-j;f'' ' * r1 Life Savers Corp. (& ... f Federal taxes__— :y .-..A" ■ I .rf- '•»• >:A*r • ' 700,280 $1.87 Np^of shares outstanding per share,. w—v/163, p. 313. ' : - "Earns, $3,646,440 . 2,789,433 - McGraw-Hill Chilton in of its ;•:• stock,, •„ ... $857,007 ' might be integrated a program 9 Months Ended "1946 Earned 6 Mos. ■ $2.47 v $2.34 $2.87 share .> * under its sole End. Sept. 30— f Lindsay Light & Chemical Co.—Earnings—• v „ ? Net. equal ♦On 798,000 share! * , interest with majority owner * Profit. series of discussions publishing activities management.—V. 164, p. 2548. , $135,696 , $181,160 renovating and carry-back re' 7 , ' Jnc.—Arringe^ for. Tobin Meat? corporation and Frederick M. Co., Inc., have announced the Albany.(N. Y,). Division of the latter organization now provides the beef, lamb and veal components of the famous cooked, frozen Maxson complete meals. Wilson C. Codling, First Vice-President of the Tobin company, directs ! the activities in Albany/for which a large unit has been Installed. "•The Tobin company, which has plants In several places and ts one of the large independent meat packers of the United States, cooks and .freezes the meat portions in Albany, • wraps them in-cellophane, and forwards them by refrigerated truck to New York, , where Maxson s assembles them in menu form ^together with the two vegetables that -make up a, -complete meal," said tbe announcement.—V. -164, p. 2693. rMaxson Food : $79,868 profit™™..: tAftcr strike expenses of $203,107 and after cleanup expenses of $105,472. {Estimated Federal tax funds.-r-V. 1(54, p. 2959, . . /• a * Systems, Raymond S. Perry, President' of this 7/Tobin, President of the Tobin Packing '"/simultaneously an arrangement by which " 7' Ltd.—Earnings— 1945 !? 1944 1946 ./' ! >$3,398,901 incl. development- ♦Earns, per com. ; ' v , 1 ™! $3,337,180 income!—• Net' income , inoom.e.—V. 162, p,: 3075. , ♦-*<.. > an this acquisition becomes the 2,050,257 ' 1,748,463 Tax provision™™™™! U 326,222 !, 422,536 Depreciation „'! / 35,004 ?0 55,550 Costs, •.': ' 1945' 1944 K - $607,661 h $469,479 5 213,539 .'fvi 189,539 213,539 •; __«• *After charges and Federal taxes on. .; a per shares • $613,484 i.. "Number of capital ' Subs.)—Earnings— Sept. 30— ^•Net. profit . in Jan. 3. ' already held 350,140 ": . 350,140 /?::!/•; ■!;;■ ' '■•/ 77 ,7. $2.32 $2.44 Mclntyre Porcupine Mines, -y Gross . held by publishers Spanish and English for distribu¬ that this was the culmination of a under which all McGraw-Hill foreign of V, Cup Corp. (& . , It was stated, /■<; ' fS Lily-Tulip Company BPIC, and with ■ -- • ■• • $815,054 $1,314,761 .Net profit g, *" ' • ' 1944:?: $3,444,153 2,629,099 $2,370,782 ; 1,056,021 The • 1945 1946 magazines and Buyers Guides abroad, it was announced on tion Subs.)—Earnings—• r ' has acquired the stock interest heretofore Co. in Business Publishers Internatinoal Corp., company Chilton the -of * 9 Months Ended Sept. 30— Profit before Federal taxesiLw^i-- .. The ; - Inter- Co;—Increases Stock McGraw-Hill Publishing rf^Period End. Dec. 31— $974,171 $2.13 Marathon pointed registrar of the common £ 6 i,fi/;' - — Corp.—Co-transfer Agent— The Bankers 'Trust Co.! New York! N. Y. 'has been appointed cotransfer agent for tne common stock, par value $6.25.—V. 164, p. 3145. :*;!■• v;///--:/':1:'-/y v-•7'-7.'7. x/.-.■■ 7"7-•'>/.■ /■/:■'•• ? Marlon Power Shovel Co.—Earnings— . ; ,9 Mos. End. Sept. 30-! 1946 1945 1944" Loss after charges™.™.™!..!!! 7 f$162,132 ; ♦$226,159 / *$787,651 Federal income tax,es™!.!-™^r-!; *tCr242,00Q,; ^ 90,463 , 606,491 — Number, of Products~Corp.—Registrar—r.;■;■■■ shs 2959, \ „ Net g$j jpebn & Fink aftfer charges and 440,000 common Earnings per sh. on , 1946 ; 1945 $10,952,848 $9,522,486 ... 2,254,894 1,572,760 —873,000 , .748,000 Ended Sept..30— L. Profit after charges .12 Months - ' " '7* ^o^Earnings^--• ' ?v McGraw'Electric ipcpme, $5,061,529; ; $925,697 $1,172,352 $1.16' " $1.47 shares.—V., 164, p. 2054. . ? 1943 $3,575,190 $4,110,130 1,879,465 7 1,919,664 , 460,386 647,282 . 73,109 •• 81,287 i $1,162,230 $1,461,897 ' $1.46 . $1.83 ' ; Mengel Co. —"Jointly Owned Unit to ' 5' Warehouse— • - The seventh in a Open Seventh ^ chain of plywood distributing; warehouses will be opened shortly at Dallas, Texas, by U. S.-Mengel Plywoods, Inc., a : 1943 ' (Arthur G.) McKee & Co. — Has Record Unfilled $64,994 company jointly owned by The Mengel Co,' and United States .Plywood ^ ?"?? 'Fafns. per com. share™ Corp., L. B. Olmstead, Vice President and General Manager, an$2.02 $0.75.'.'r:'"';.J $0.71 $0.86 !'<)rders^7 7 -:: ?•• •' nounced on Jan. 2.7/ !•/7. / , , , ■! / , , , , vJ *After all charges and provision for taxes.—V. 164, p. 2410. 7?..? Robert E. Baker,/Secretary, said- in. part: ' . • , < &.i; U. S.-Mengel Plywoods' expansion program/ which started early in As of Dec. 20, cash and accounts receivable amount to $2,632,362, ex¬ 1944, calls for additional distributing warehouses to be established In clusive of a refund of approximately $245,000 U. S, dollars yet to be ; other key cities, Mr. Olmsted said. The six already in operation are f Line Material Co.—Earnings— Q 1 f •, received from the Canadian Government on taxes paid in prior years. 0 Months Ended Sept. 30— j ;V:r. 'V ' 1946 1945 located in Louisville, Ky.; Jacksonville, Fla,; Atlanta, Ga.; New Or¬ As of the same date current liabilities consisting of accounts payable, Gross sales_____——;__™™™_*:—££ $16,509,372 $17,517,157 leans, La.; Houston, Texas; and St. Louis, Mo.—V. 164, p. 2960.-v. , : sundry payables, advances from customers on. contracts in process, Net profit , 512,520 . , 541,600 funds for payment of this dividend, and taxes, excluding Fed. taxes on ♦No*.of common shares_™„__™^™_™_™. 460.314 437,912 1946 income, which are payable during 1947, amounted to $842,734., / Mercantile Acceptance Corp. of Earned per share_-„»™,„_—■; - $1.11 " $1.24 Working capital of $1,789,628 is sufficient in amount for present, re¬ ?/: The' company on Jan. 3 filed a letter of notification with the SEC fiH*After-charges and Federal taxes.—V. 162, p. 3075.?>:?>■■:? quirements. The foregoing figures are taken from unaudited accounts. for $20,000 5% series first preferred stock to be offered at $20 a It is impossible as of. this date to determine earnings for 1946 ■-<th share. Underwriters/ Guardian Securities Corp., San Francisco,- Pro? ." •••i •„ ..V, with more than approximate accuracy. From available data earnings, Xion Oil Co.—Extends Production in Texas— ; fceeds will be used for^corporate purposes. ; , .7/ / after allowance for Federal taxes on 1946 income, will be approxi¬ This company has, extended production in the Dollar Hide Pool of mately $410,000, according to estimates. -This-compares with actual Andrews County, Texas, Col. T. H. Barton, President, announced on ? Mercantile Stores, Inc.—December Sales profit of $310,846 in 1945. Profits from operations in 1946 have been / r Period End. Dec, 31-+-' 1946—Month—1945 Mos.—1945.; limited by delays in obtaining materials and equipment which in turn a-potential test, the .company's Tennie Number One flowed have delayed progress on, and completion of, contracts in process. Sales ' ^ • ™_™—™™ $14,379,700 $10,998,800 $96,480,400 $69,390,40® tAu baLrels through a small choke in, 24 hours, producing from the —v.: 164, p. 31^7-7</;!'■ 'P.v. This reduction in Volume Of prodOctidn is cqmmon to many indus¬ ^pper Devonian Pay Zone. In a 168 parrels per day.frojn the choke,/ previous test,'also on a small Lowe? the well flowed at:the rate of tries and Is/attributable in large part to strikes. : ,<;£• M- f-f ' • ' ' ' > J" • • ^ t <1 • ',* t j », »►* > * '* > a Devonian Bay. The well is Iocatdd on a 160-acre W&e and ad^i^ions^ 0i>'9 Mos. End. ♦Net income Sept. 30— >•!'■ 1946 $134,098 ' 1945 v • " "1944 ; > ; $55,551 $58,364 s: . f* Calif.—Files with SEC . , . au Up 30.7%— 1946—il , > ■*» v {..• . Volume 165 'Number 4559 THE COMMERCIAL i FINANGIAi; CHRONICLE 213 Mergenthaler Linotype Co.—Annual Report— r ii 'ft) INCOME ACCOUNT FOR YEAR ENDED SEPTEMBER ' ftftrft\lftft7 •• Sales 1946 (less returns and •Operating selling,, allowances) ft; ft,,ft 30 ',7 ' This company has a substantial but minority interest in MinheapolisMoline (England) Ltd-.,1 brganlzed jointly by Sale Tilhey & Co. Ltd, and Vf.,i 1945 ' Minneapolis-Moline •>-. now .ft, j $6,522,1,28. $22,816,319 general, apd admin. exps. y 6,486,160 according It .19,950,733 « Net ' taxes for years 7 \ --ft 7 •,. .ryeara; ft unused. T - • Section 710 < Revenue Erovision, for possible 7 \v >■ 5 : :* Total yiartimo^ Misc. *\ Dividends — declared ft/'$414,303 • —. and; paid—-——-.- in* - 4 Vis of ft YEARS ENDED OCT. 31 ft-J; Ion 1,178,435 to U. stock *Including provision 1945. war for depreciation of $313,681 in 1946 and $333,817 tProfit.. - EARNINGS FOR NINE $6,214,233 $8,919,252, 5,190 7,002 710,447 28,922 13,476 < . 73,784 ftft .7 7 BALANCE) SHEET ASSETS—icashi AS, OF SEPT. 30, 1946 marketable: aecprities, at cast (market value $4,978,827), $4,980,340; accounts and notes receivtfale, $2,372,657;. Inventories, at cost, $7,227,225; other assets, $1,350,033; estimated re¬ fund of Federal taxes arising from (a) the ''Net operating loss" and ry. <b) of the unused sections other excess 122 and 710 investments,- $663,295; profits credit of the under the 7?rov; for Postwar cess back provisions carry Revenue Code, $2,150,000; receivables, $18,914; suspense, to future operations, $214,683; fixed assets $5,335,586; total, $27,591,641. ' —„T 77- LIABILITIES—Accounts payable, $860,121; accrued ' due to unconsolidated ; oper. Qorp»---Eai:iiings^- 7 • \r 3,595,360 9,830,541 ■ 179,400 • 749,685:1 14,118 365,212 103,898 000 * , sh. shs. com, $1,702,597 $0.56 $1.08 $1.41 - ' • . r 97.56% —.~ Capacity passenger miles flown-:.-™.-.— Revenue passenger miles flown^_>.—,—— Passenger load, factor,™-.——— —, Mall and 97.45% 9,858,295 5,766,846 . express-106 Mall and express ton miles—. -—„—— 32,263 Revenue passengera carried—19,467 Revenue miles flown ; OperatingMet loss *Net ' revenue after profit creased after labor and taxes, —t$8,505 (This net tnaterial costs t 369,696 $348,347 *$29,014 loss and Total—- a Midvale Co.—Earnings— t945 Reserve for casualty liability i Reserve for contingencies and 1944 $1,796,720 ♦$6,856>600*$12,90Q,429 Credit-1945 tax—t1,159,000 Estimated tax recov,— 1,— $1,832,000 * Reserve for contingencies———: 313,500 524,525 Federal tax provisions——^-— ;——_ 4,440,628 9,856,373 Capital ft Net profit— $1,194,280- $2; 102,'47^ 600,000' 600,000 Mo., of capital shares—. 1ft-——--i. expenses- ft $4.20 a aproflt. (Credit on 11945 income tax .and renegotiation refund, ^Estimated jjecpyery under oarry-bacJc^ provisions of. tak; law^V.* 163, Miles Shoes Inc.i'ifrw, ' ft.;. . —-ft— Feb. », to 1: , A Weeks Ended- Dec, 28,'46 Sales— ' , , ^. , - $1,808,000 $18,947,000 $14,736,000 ■« . Dec.28,'46 ,Dec. 29/45 4—-—-ft--——.: $17,912^800 $14,034,000 p. JH40. ; v-Vft;"c.:,-' 12'- V. , Minneapolis-Moline Power biiiileiiient Co. Aimual Keport^-W. C, MacFariane/ President, en Dec.' 1ft stated ftft/Potal, ft;- * sales compared 4or - 31; ;l§46/,w«'e Day to the settlements were 1945 year effect all on government contracts this company, <* Cash' receipts further no renegotiation / ;. :*Nefcft •- - ' refunds • „ * are * ' year. The postwar for This compares balance losses which it was created Profit of - ft doubtful An of notes and accounts amounts receivables and is considered ample for possible losses excessive reserve for doubtful notes and $125,000,. which accounts excess resulted from the reduction cancelled and credited to income, account. The inventory amounted to in was $16,565,276—an over 1945;; This was due to an increase In farm schedules, as well as inability to obtain certain machinery production materials in complete for production normal needs programs only. time scheduled. as Commitments .; Advance Oct. on 31 purchases amounted to are to $12,compared with $9,288,696 the year before—the Increase occaft cloned by the necessity of placing orders considerably in advance of requirements. ' * * 025,026, , ft*. The plants and equipment placements and additions to amounted to f2,633,171. are maintained plants Operations * nance, repairs and normal provision of your management, all of the Letter equipped iiistory of years 1941 •, and more f,he modern good , the last have been for facilities than at any time in are the company. New. capital expenditures during the fiscal to 1946, exclusive of emergency facilities for war contracts, aggregated $7,024,798.ft " *'• ,»■ ,*.■ •'.'ft; " *. * ■;'ft.ft •'*•■ ft .;■• ■ /,,„■;; -; V;;,. , The present plans call for further modernization and - < manufacturing facilities, to take the company's present products expansion ^ $1,532,290 '• '' $1,466,575 the for unused statement at balance reported 7 390,254 $0.09 '* excess published profits forv the $180,000, computed at. of the company's fiscal the - * since. 1920, ' '" " u 1940 . , and associated has been elected President, share a Feb. ort . 21, the succeeding 1947.—V. ft ^ the capital regular stock, 164, quarterly nayable 2694. p. cash March dividend 10 to of holders » j: City—-Arranges Loari-^ft arranged by the as broker. The Hammond, the ;■' States, Tpl^piioiie E - / ^cic^ra^ Period End. Nov.30-!— '. 1945<—Month—J945 - 1946—11 Mos.—19s45 * Operating revenues $4,733,938 $4,221,887 $49,841,274 $44,287)200 Uncollect,ihlfi oner Uncollectible oper. rev "-ft* ' rev._ 15,450 : 9 his ft 191 R70 Id QOI 9,015 121,870 ft • 74,993 s % Operating ft' -'ft' ' i * revenues—,. $4,718,483 Operating expenses "■■'*<* ft ft: 'ft ftft/. 'S *; i ft ft "- '• / ft/ft Net oper, revenues-—; Operating taxes 3,762,841 $4/212,872 $49,719,404 $44,212^207 2,815,256 38,938,166 29,588,184 $955,642 519,388 $1,397,616 $10,781,238 $14,624,023 -929,752 :. 5,202,314 ; .9,826,853 Net . $1,283,991 ' 1,403,146 Net 1,220,676 * —V. " $1,138676 1,375.145 1,375.145 ♦ 82,000 operating income charges——— - J . ft", ^ ^ ft > . • . *l; - ^ '";'V 1 , ' ' ' \ • ' $0.95 ■■ vft.- ;.,:*/ ;■' $5,578,924 319,219 $4,797,170 '3,356,384 ft//'.ft. 3,801,167: .'' ft Murray Corp. of America—Earnings— INCOME ACCOUNT FOR 12 $0.83 V $467,864 : 332,998 164, p. 3146. MONTHS ENDED SEPT. 30, - v' . $436,254 after k — railway—_r ry. oper. 1,324,131 261,948 56,893. railways—ft income--' •Deficit.—>V. 164, p. 2960. Net sales ' —— 1946 > . 1,786,038 ift 538,775 on reserve for. deferred costs of war 290,685 ftS-./ft production tp income— disposal of equipment Interest ; 607,647 335,056 . of credited 1,604,484 748,763 ft 211,698 •Portion : —w——. Federal taxes On income (estimated)—' :t ; •■■■ $35,330,072 35,766,069 2,209,473 .*—„——( sold. 54,484 Loss - -*" —™ , Cost of products 27,678 2,005,062 .Total* income : 1943 ft $143,918 f $35,272,194 : '57,878 ———- Miscellaneous-income—ft * 0 ' Cr39,302 14,816 119,396 ft ft ft ft. '; ft V ft ft Refundable taxes of prior years atlslngftfrom carry-back' of operating loss and unused; excess profits credit for *-* the 11 months ended Aug: 31, 1946./—"-i. ; • , , Missoui'i & Arkansas Ry .-Earnings^- November— ; Gross from railway/-—; 1945 $1,199 Net- from railway.—-— Net ry. oper; income. ft 1946 • * •21;746' > $147,474 > ' *23,938 - Gross from '2,795* railway./— Net from railway.—-— ry. •Deficit. 31,076ft ';ft-. ; ; ^170,786 "- ' ft ■;-A. Interstate *3,188 : 2,017,157 ' *47,205 *302,793 2,343,416 -568,796 177,512 ft -Net' loss 5 $178,350 * \ 24,847 . - . - - ; '■-Vft.T--- ..Vv.v ' ft f1- ft -v'.. Kp. secured by will pledge of open the bids Jan. road's 14 prior on lien 1946. ——— .-ft—.— : 165,000 $187,880 ta estimated reconversion/ and other costs attributable" t5 period ($208,963) included in costs and expenses, for. the . amounted 1725,-vftftft;'ftftftft.ftft.ft' y ■/■■*■ ^■■yy'-yyp; ■■■■,;.■■".■•', ftft/ftft <•'•■::/ <' ftft Mutual Life Insurance Co. of New York—To ■ -■■■•■ -.x ? k Pay $15,650,000 of Dividends to Policyholders in 1947— ^ftft'""-*;7-'' / ft Dividends to policyholders of this company, amounting to $15,650,000 1947, have been approved by the board of - trustees, it was an-1 on j»n. a h" T.ewis W. Douglas; President. Dividends in 1946 amounted to $14,850,000. ft ft ft; ft '• MMfMI 'ft Missouri-Kansas-Texas RR.—-New Loan— The/company Cr2.717,100 .September, ———————— ■ft/ft ft ft for pnimnPf) . t of NOTE—Provision for depreciation of property, plant,- and equipment to $603,400 for the period.—V. 164, p. 1,993,439 1280,722 ; > 25,988 Commerce. P' war for. month period, less applicable increase ($169,261) in refundable Federal .taxes. - Commission on ftJan. 3 announced me application, of this -company -to abandon: its, entire 365-mile line wril be considered Feb. 10 at a hearing before J. K. Lyle, ICC examiner, in Little Rock, Ark...-.■ ;• ••■-ft ft * The railroad^-y- • ' •—-•••'• •• ' applied'on Oct/25; 1946 for permission :tn abandon:'.its line/ between Joplin, Mo., and Helena,, Ark.—Vi 164. *Equal the 1,498 1 ' -- . _ Seeks to Abandon Line^ ..The $243,395 35,543 *22,222 1,269,231 -; income—> 2 1943 - Net oper. : Provision < ■:/•.. ■:■'/; 1944 * - From January 1—r' in of the. increasing demand for the manufacture of new products and estimated 1944. $1,307,046 Net ' care and developed by the engineering departments. . $33,343 $0.81,' — Garlent, Executive Vice-President since the corporation " 1,379,545 ^ $1.00 from Re¬ manufacturing plants ■ the ft, —--96,100 Net year charged with mainte¬ depreciation. / In the opinion losses of original was for 1571. p. — __ 1945 , - condition. in , revised y ' .1946 I From January 1—. Gross from ?; in equipment company's with • > $37,000 , $315,122 390,254 ——— Motors Realty Corp., Nv Y.; for Mississippi Central RR.—Earnings— - $3,045,402 been cents City — 'Shafe-j—'-^-—-:^—,--< receivables, increase: of ft 93;400 —V. 162, p.-3076. V' to 20.4%- collection. in * the amount . ■ / in mi,,;. f ft A mortgage loan of $3,300,000 for ten years on'the leasehold estate 1785 Broadway, New York, N. Y., known as the General .Motors Building, has been obtained by the Motors Realty Corp. from ftthe Mutual Benefit Life Insurance Co. of Newark, • N. J. r The financing was $50,585,840 3,180,656 6,595,330' ■ Novemberft-^ ftftftft# ,1946 ' '1945 ■.ft /ft 1944 : ft Gross .from /railways— $153,900 » $124,542 $183,855 i.Net; frora railway;./*- --H :9!:56,089v,ftftift ft 7,132.. 67,811 Net ry. oper, income ■ft 34,117' *3,633 28,895 31, 1946, compared with $13,280,986 on Oct. 31, 1945, and $11,989,001 on Oct. 31, 1944. Receivables (net after reserves, etc.) decreased $1,573,901 .during the year. The reserve for of ,/ ..m of ft profit,--ft——$1,382,921 Net , Oct. on previously t478ToOO '■ • 2960. < , In same i - / ^ $5,000,000 loan to be mortgage 4% bonds Of general, Mr. Douglas as-for 1946, except in a. . ft- . "* /-ft — explained, that the certain to new ■ dividend ft ft// , scale-is. the adjustments, have been made w-'ntain an equitable distribution ta the entire body of. policyholders.. The total amount of dividends 'recaiUOSrii'/o'ii9%rj- fte* ' ar-.ftp t mn "tny 1946 primavlly he",cause- .of the* "greater amount, of* Insurance no,w% in force.r—V. 184, rD; 3416. - *481,657 portion of Federal taxes on'income of the refund effective The directors have declared 30 — 1945' ' i868., After'depf./depl.-; etc.ii:_^.^^ *"'T,470,321 No> of capital shares Earned per , longer necessary for the purposes has, therefore, been cancelled and $12,138,507 Corp.-~EarnirigH Federal tax provision- no and to surplus account. working capital was 1945 ft $57,J95 > Total ft income----^--..-—— with $1,033,505 net profit for the preceding in the reserve- for contingencies * and credited Net .1943 . 1946 9 Months Ended Sept. 30— . werp of $708,267 determined was — In of rate $Net; loss has pf record 1945) Manulacturin^ eo. ^ ^Rljs.) profit™™—•; ,ft Mksion> were. $1,702,597. " ■ after required . ft; j$l,252,269 / /After charged and Federal taxes.*~V. 163, .p; « 7 7 ftftft, $34,602,132. Cash disbursements $37,043,845, divided approximately between, materials, supplies, taxes, et cet., $23,615,373; wages, $12,626,535, and dividends, $801,937. > Net profit for the year carried to surplus, after all charges, including Federal, State and foreign income, and other taxes, amounted to the ' year for ' —— "health.: L6,787 in period. tax Mountain Earnings-r^- completed early in 1946*. « Renegotiation^ proceedings for have resulted in a final clearance from the government that 1946 $996,335' 509,622 194,500 F. Harper, who was President and General Manager of the corporation since its inception in 1920. Mr. Harper resigned Jan. 7 from his post due to ill $1,304,742 ft 405,057 329,000 ft 289,3P9-t-Vi *121,603 ft-124,619 '/ft 184,874 ("ft-* Miiinesota Mijtun^ & $3l^8744i65H cancelled -iuay.. * • . the * 196. , $42,186,090 for the previous year, the reduction - in total sales resulting from the ending of war contract sales during the Year. • However, farm machinery division sales were $30,874,924,' com¬ pared with $26,577,610, the increased production of farm machinery attaining an all-time ;high. in.. the .history of.; the company,!. The VJ 1944 . ;swles—$52,309,301 ended ft Oct; year^^ with termination 1945 : 9 Mentha Ended Sept. 30— i Net ♦ f||^ the $2,610,257; $1,621,794 Haryey, Braxton Co. of Nevy York attorneys were Cadwalader, Wickersliam & Tafi) Motors Realty Corp. and Pitney Harding Ward & Brennan- f<r»» Insurance company. The income—ft majority of the space in the building is occupied by«-th© General Motors I From Janqary 1—i ft Corp. under a 'long-term lease, ft The" proceeds from the Gross from railway--—. 13;227;709 ,14^36.032,i abovfi-mehtioned loan will be used in part 14,026,908 i, 13,593,678 'ft-to Net from redeem the "outstanding -railwayy 1,402,412 Broadway Motors* Building Corp.' first 2,210,899 4,014,738 4,371,207 mortgage leasehold 6% «?y. 2 bonds, which were recently called for 1,525;467 ft 3,321,430 redemp* rX^ 1947; See y. 165, f. 76. Deficit!—V 164, p. 2960. *;■■•*/,/ V<■/■;> :ft ;;•/ft -ft/ft/ /ft ft/ftft /ft/;- ft ft'-ftft; -ft'/•;'/*./■"/■ — in part: Mos.—19^' 1946—9 $863,753' Corp.—Earnings— recoverable Harry Ry.—Earnings— 1946 Grosa^fropiftrailWtfiftU.^.^$1,438,2Jt77ft$^3U, 172 Net Net Xroni;raiiwa^ftft2^ft;ft;;U60.^;ftft>178,159 ry/ oper. "■■• ■ and 1946—3 Mos.—1945 .. ":ft:" ;1 & St. Louis . Jan> 1 to Dee. 29/45 Dec. 28,'46 1946 '■"[ x » with 2,550,926 ft 4,635,457 Br 12,017; Brl2,017 - the the amount John E. , - ' in are 1 , 320,775 .128,534 708,268 r-. for 163, 6,244,385 treasury $7,239,847 months Motor Wheel Corp.-^-New President Elected—Regular Common Quarterly Dividend Declared— $29,327,427 $25,621,819 of .November— -.ft Jan. 1 to Dec. 29/45 .$2,185,000 -... Rales '■ . Current Sales Rose 2Q.:9%^- ft ;■' . •' v 130,000 — Minneapolis . ftyyrr.-y*- '//; 320,775 — postwar losses— 21,8392,550,926 depreciation 11 postwar included in 1,277,043 $5,501,379, •/•Represented by. 100,000 no par shares.-ft-V; 164, p/2289. 600,000 $3.50 4,296,046 surplus—— •After and ....." and 700,000 . *7,332,882 P,038,639 - surplus-—— ■'Total,—— 'A :. quarter ended Sept. 30, by a transfer of $37,000 from reserve for- war adjustment to offset $225,000 cost of plant reconversion operating costs above, less $188,000 tax refund resulting therefrom.—V. 1945, $11,000,000 $11,000,000 stock Cost of 1,300 preferred shares in $2,519,531 , |torned per share—------ft—$1.99 Earned ——■ '.*r ' ^ ' . .credlt-^--;-^ii-----^Ui.i^iiw: normal year.; 151,955 137,358 Mi6cella,neousvres<prveT—;v<.i ™ —«—• preferred :• ft: credit 32,761 par)—,700,000 on ■■ profit—— *Loss,5 tEstimated the iiiiiiii'il® Notes<and.accts.; payable and- accrued foreign income taxes:— payable 5,967,615 3,261,997 1,254,112 368,577,934 December taxes-^---——-i:-i—i-^----i--i_---— period, $29,327,427 $25,621,819 ——— Federal and 12 Mos. End. Sept;1946 Loss from operations-w-^——— I 132,931* — no Dividends -- 1946—11 Mos.—1945. ^ 651,679,855 83,232,357 for prior years arising from, carry-back 656,125 3.7,700 1 par preferred stock Common, stock ($1 . factor, the company said;—164, p^ 3415. ft 3,194,447 13,519,875 165,215 - - liabilities— t$6.50 sales yyy Number of capital sharesEarned per -share- v 1,620,545 16,565,276 policy--. - 1946-^-Month—1945 that credit—,, . Special 60,926 825,000 (net) — primarily* to In¬ decrease in passenger load 1,152,384 90,247 - Federal -Tax 1945 bonds_^--— war ' due was 3,155,329 951,387 periods.—V.' 164,' p. 3146. ■: * 1,819,982' ft 1,804,404 -i-—' Postwar refund (Dominion of Canada)'Deferred charges, etc.—^ 17,491 496,795 $387,252 —— income; taxes— 6,157,643 2,588,588 <; Quarter Ended Sept. 30^ Profit from/ operations Profit after charges $6,063,969 i Cash surrender value of life insurance 105; 32,904 . 167,146 5,333,691 •After Federal income taxes, etc.—V. 163, p. Net $8,160,777 — hand—'— Notes and accounts receivable Inventories > 80.35% 1943 $424,072 192,129 14,879 • —- Dominion of- Canada 6,606,075 .5,307,656 ;; 58.49 % ... • 1946 fProperty, plant arid equipment-— Plant property not used--—.— on r 1944 $545,098 271,936 323,864 117,280,737 Motor Products > "" Gash in bank and ' 1945 $564,327 profit———$1,380,874 801,938 ,$For d°ubtful notes and .accounts , ; $1.89 & Co., Inc.-^~December Sales—' ; __™— $1,632,406 801,938 CONSQLIDATED BALANCE SHEET, OCT. 31 1945 $1,053,948 — Moore-McCormack Lines, Inc.-—Earnings— $1,313,193 $1.52 | ASSETS— 1946 ,r ; 937,531 The -i«. amortization of provided In.prior years." " Mid-Continent Airlines, Inc.—'Earnings, etc.— Month of November— —— : shares. : .Period End. Sept. 30— ♦Net $1,033,505 801,938 801,937 • * Accelerated ■' ,50 30,. 1946 5,497,004 2,466,517 income— company states records for these '16,846 - Operating efficiency Sales 300,000 of 700,stock on - SEPT. 70,994 Period End; Dec; 31— ;V emergency facilities applicable to prior fiscal years (after deducting related claims for refund of income and excess profits taxes and* renegotiation rebates amounting to $550,532). tProvision for possible net refund which may result from renegotiation of profits., on war contracts. 1946-1945 1944 Met sales—ft$793,634 $1,207,058 $2,496,798 -'Net prbfitft—ft—ft—i.—-—ft—' • 2,743- V-f 104,465 <110,225 Kumber Of common: shares:—— 205,945 205,945 131,695 Earned per share.ft.ftft-—-.:——ft | % $0.01 2 7 Nil $0.77 * After charges and Federal taxes. fLoss.—V. 163, p. 1570. - V 25,883 and. (net )— Net profit for year— divs. paid— per ENDED common income—. ^ Montgomery Ward 585,847 93,056 — Preferred Earns, 530,424 Subs.)—Earnings-^- taxes-——. 20. 161, p.. JO. . • con- facilities— emergency March , (Cr)_ amortiz. follows: as v^,- 164, p; 2960, * 31—7 ft —ftftft-——ft Quarter Ended Oct, t' on from Net ry, oper. conting. postwar loss Accelerated foreign 683,715 ex-.; value- for (no par) Micromatic Hone. . version ; .liabilities, $567,subsidiary companies, $41,291;, reserves, $1,658,044; capital stock (256,000 shares, no par, carried at * stated value of $5C each), $12,800,000; earned surplus, $12,450,008;/ treasury stock (20,313 shares at cost), Dr$785,786; total, $27,591,641. 4-V; 164, p. 1211. 963; for profits tax Prov. r >-■ t. credit Prov. for decline in Internal $381,181;-'other deferred charges 'profits' excess taxes ftftft—ft/ftftft ;; ' 01 Dec. 16, 1946.' Chicago Stock Ex-' vi were MONTHS and January 1—• railway from railway——— 7 Net 255,000 574,250 576,345 Stock Div.— as the on From 47,628 155,000 861,561 : charges November^yy 7 1946 railway$511,096 Net from railway——" 232,863 Gross 7■;;! foreign inepme taxes- $2,897,725; 200% stock held distribution Gross from Net 12,429 1962^, .ftftftv Monongahela Ry> -Earnings- • of contracts—'— Texas-Ry. pr.or lien 4s of 7 7 '.ft; Dec. 24, 25 cents each.-—V. "^82,757 |4 803,630 tProv. for possible net ;K refund.' ft ft-—ft ftft' Prov. 7 for 7 Federal 7 and 7 . this ex on - In was common Mojud Hosiery Co.» Inc. 560,559 1 '961,286 Kansas & RR. 76. p. dividend of two additional shared of a each 164, p. 2694. 7 165, , Dec. 24 paid share of on on Earned per share 72,787 acquire Missouri, —-V, Dec, 12, last. ~ distributions made during 1946 cents; and June 20, Sept. 20 and Govt., renegotiation "ft , Net income after $3,513,077 7: ,7-10,259 — S. 330,459 1962. Cash $8,636,495 . stock The common 32,214,§12 7 of Manufacturing: Co.—Pays company change . $5,883,774 The » 5s ' .. t common 1945 ;7 ;'.1944 1943 /ftft $42,186,091 $42,932,697 $40,851,007. 37,048,923 J . to Missouri-Kansas-Texas 1978, And ft ♦. ft Modine ft;;ftft 39.007.409 ■ft' —_ paid™ Refund $1,442,923. 471,374 * 7-- «-V 7:7 $2,815,195' $3,178,682 430,709 «: 334,395 charges-—-———. 7-7*—7'! Interest - ft..ft 1946 $31,874,265 ~~ proflk—-ftftft. $3,370,904 Depreciation 296,777 7. Surplus ^7.-.-^7:_77^v7,::."77 tPortioh of reserve- hot :ft •, 7; required /ftftftftftft; 125,000 /ftftftft; yyfty ft-ftft*; Codeft;—ftftft.ft— Crl, 119,000 losses'from- is market company thp British and specifications of the American company. further additional items will be manufactured in the British company. Profit from operLi-iT-Misc. earnings ft. ftftftft "ft the ft;,r profits tax credit- for the cur-.1 excess y* rent year undertheprovisions of of the Internal for design .ftft attributable-to the carry back;of The' British - -sales;:7-.^;.;7"•*7:77,77 income account for the current fiscal year.ft Crl,031,000 refund of/ Federal - taxes - for! prior ft Estimated Co. Proceeds will be used first 4s of 1990, and that Cost "(inci. mfg. cost, ; m admin., gen. and expense) ft.—29,059,070 - 1.350,000 prior . the Total net sales—. $1,735,697 t$3,089,701 attributable to the carry back of the "Net operating loss" based, on the company's, . to expected 777" 7:r7i-;^:.^V.;7^7;;^v.7:7 V. 1 iossft^ftu-iaft^ftftftftftft:/—ft?ftft: Implement CONSOLIDATED INCOME ACCOUNT, ; ' Federal income and excess profits taxes— Estimated refund of Federal is England by Loss from Other. Incomeopbrqtiohs.ft——ftftftftft^ft—ft $1;964,Q32 ftj*$2,865,587 .7' 228,338 7.' 224,114 Power manufacturing combines and hammermllls 1986. Inc.—Earnings— Namm's, 34 wks. Sept. 28/46 Period— sales, tGross sales, less ret. goods sold;1 •Cost of and allow— The • $11,502,870 10,235,935 6,662,934 $8,684,786 $12,659,848 7,693,606 11,249,925 5,132,621 7,322,643 allow.-- less ret. and •Gross 50,000 ...The New York, N. ."Clients of $2,560,985 286,742 $3,927,281 $3,573,001 373,785 340,908 departments,—/* 75,818 121,318 131,370' ownership activities $2,923,545 from sales profits Gross merch. purcnases_ on earn, tentals of leased profit from store Gross 3,493,202 12,215 Operating jii Net income )240,851 195,062 69,088: 1 — $289,201 $360,843 f'$110,722 —. .{/•; . •/V1'^ • •After profits excess taxes '' profit outstanding irnings per share ,i a . 1944 - ' $3,181,650 • ; ■ $354,650 500,000 $0.71 $0.56 ' Sept. 30— 9 Months Ended ' - Iftd, (<Sf Z.-_i Canadian and leral Net 1,430,392 prof, tax^ — • 578,033 & excess inc. 953,779 paid dividends •After $0.89 •$0.51 which was retired on preferred-stock y. 164, p.-296i; ITEMS' FGLLOWV BALANCE SHEET • Sep/ 30, *46 Sep. Z* 1635. 164,- p. - , , ' - v> _ - Z 9,284,463 :'.2,273,287- assets Current ,-^..."- I Current ..liabilities, fearned surplus--_i \/**Estithat6d/c6htract,!pi*lde^dUbj'e'6tvto*adjiisthf^ftt";/c0nfractS/sub*{ - 707,712 <<. 382,385 / $2.25 ; . $1.52 34,528 " I—V. 163, 2160. p, - ■ „ ' . National ■ Biscuit Cot—Earnings-^ Period End'. Sept, 30-~ 1946—3 Mos.—1945 * Net V-A■/'-■r/v/:iAiA/ »$3,275,156 t$2,299,122, $13,513,255 $10,663,335. taxes ; $51,328,410.—rV, 162, p. 1516. , , Mfg; Co.—Earnings-** 1 1946 ' Years Ended Sept. 30^ profit after taxes- jlEarns. per sh. on 161, p. 1356. outstandihg 100,000 shs. - i •; ' • ' Co.—Sales—. Sales —V. : 163, Sep. 30,'46 June 30.'46 ——$4,846,099 $2,180,395 ^ 2160. p. Fiscal . ; Net .-...I./. profit •Earned common per based in each year are On at Aug. 31, 1946. -V: shares outstartding.- there were 1,662,039 common oh' preferred the- latter date 164, Gross * from Net p'. 3146. * Inc. (& Subs.)—Earnings MONTHS ENDED SEPT. 30, 1946 "> $3,152,602 National Motor Bearing Co., INCOME ACCOUNT FOR NINE sales Net income after charges and —V. 160, p. 226. , outstandIng________ ■;./ v • , National Oil Products Co. (& 9 Mos. End. 1946 Sept. 30— ' charges '.v taxes* t$522,427 ' and ♦Earns, per com. - *On tired 215.791 shares. debentures—V. write-off3416. fAfter 164, p. $1.39 • •- • 1943 1944 .'S: 1943 V * $326,132 $1.65 $1.72 for refinancing re- Type Co. (& Subs;)^Earnings— r " , ; " ig46' ' 1045 pwfit after charges and' taxes'— $421,046 $335,856 •Earnings per common. share,_,______ $5.9.6. $,4.64 *On 64,392 common shares.—V'. 161/ p. 2663/" ' " "*■ Z7'5, *. National Paper & Years Ended Aug. 3r—- 'r Net from 2,619,933 . • ' The 1943 '■<",/ railway—.y From January from Net ry. —V, 1,971,529 506,061- incoihe__/:/ 955,037" railway-— oper. 164, p. 1945 702,302 1,501,168 2961'. 1944 Gross Net 3,177,158 127,005 2,356,238 2,741,756 1.251.859 2,499,310 1,035,946 1,912,332" 1.522.860 1,272,210 Honduras Rosario Mining Co.—Earnings Sept. 30— 1946—3 Mos.—19451 / 1946—9 Mos.—1945 f $235,962 ., $238,851;.,. $867,632 $556,589. share $1.27 $1.29 . y-$4.67 ; $3.00 profit Earnings ♦After per charges and ' New York taxes.—V. 164, p. 3147. •* y/-v ' ; Enters New FieldLease—Acquired Plants to Con* -"C " «!• v .. - • > (•; completed under' which- the' New York Life Life Insurance" Co/ —^ Agrees to Purchase'and tinental Can' Co., Inc.— agreement? has been CO. will play a major, role* in'-firiancing^neW^mahufaCturing required for the postwar expansion program of the Continental Co., Inc., it was announced on Jan. 7 by1 the tWb Aft from' railway' railway : : .■ > 6,987.313 1,316,068 486,442 ■ ' •>•'• i 7,265,391 :// 887,603 19,272 ; ' • ■ c. / V-iVl'S" ^ » 55,601 7,717,027 2,259,253 1,049,090 7,616,719 1,691,394 690,781 * j Co.—Gives Rights on Cleveland Stocki—Every" 5 Shares of Parent to Be Offered One Share- of; Illuminating Company Common at $15—Light & Power Common to' Get $7.50 per Share in Cash—Other Utility- Divested—SEC Approval required. . /.V to the' share of' ratio ofNorth-Amert^-\ SEC for of the company Jan. 6 authorized' the offering stockholders *of rights' td purchase at' $15 one common stock of Cleveland Electric Illuminating Co. ab the one share of Cleveland Electric'for every five shares of can stock held. The offering is'subject tO- approval" of the which'application is beihg filed; '•North American's! proposal td distribute"1 shares' of the utility is part of a comprehensive program for prompt pliance with Section 11 of the Public Utility Holding Company total of- 1,714,525 shareS of Cleveland Electric - common traded-on thb New York Curb and Cleveland Stock* yolved in the offering. : \ *'/ '/'■•' ■ *"'• v In addition td the* offering of rights to purchase ; Directors company's " 'V : Cleveland and full com-* - Act. A< stock/which'13 •, Exchanges,-is in-^ Cleveland'Electric-,j Illumfnabing: Co.'s the winding up of cohlmbn'Stock,- North Aifterican's1 program includes' North American Light *& Power-and the liquidation . $662,613 > 139,233 , .... Noma" 3295r North American Insurance companies"/ The it rjii. ry.; oper, income— p/ 2961.' 'i* —V.! 164, :•* facilities Can i from Holdings to Be /: r 1— , V"1943" " $716,985'' 209,111' ; 96,*783' 1944 ... $676,969 $571,118 82,119 ./.. 77,669 • 5,761 - 22,982 r oper*. income—^ From January - 1,030,089 i be used. Ry.-^Earnings^ 1-46 1945 Net 107,864 New York & V'vi: Period End. from effective promotional products radio, newsf; also handles the1 advertising for and Noma Electric heaters.—V. 164, p. Net $224,959 !., 163,288 wire, railway—_ ail way from Net ry. 1943'/'/ 202,943 Corp.—Advertising' Agency. Appointed nanied Albert Frank-Guenther Law, Inc., Nevv*; Heatrola Division; the Norfolk Southom 5,471,553 ,101,7.79 73,023 .' V to possible the carry-; included in income available. effect has been given corporation has to '/-November— 8,843,143 $226,933 $177,568 1— railwayu^///.} Gross- from Net 59,291;: 103,107 income— oper. 1946 ' ■*'? / $184,764^ /V $1.40 . for-1946 states that .no "Ankoseal" toys, Gross ' $0.74 papers, and trade papers will /'Albert Frahk-Guenthef;Law • ; V- $0.06 $372,975' -237,500t 296,875 /:*: 237,500 296,875 ? , Connecting -RR;- -Earnings- railway from Net ry. $1.51 $75,000 p. 9,045,431 5,105,983 4,157,974 .*1: 1943 1944 $331,648 handle the advertising of the Estate K-D Lamp Division, and the Refrigeration Corp. of America, Jan.* l. , , . ?. v / An aggressive consumer and trade advertising and campaign is planned during 1947 for the numerous consumer manufactured; by* these^ divisions. * National /magazines; $1,059,502 413,503- 4,129,393. 3,472,263 income— 2961. ; oper. < 1944 233,622 * $0.72 / 1945 $18,079 1946 \ $218,364 share Noma-Electric $746,876 7,980,545 6.832,469 3,082,675: rallway___I EridVSept/30—Z profit aft. Fed. taxes of capital sha.« York, ■»c ' 1— November— • Gross •Net $371',874 of income___ /New York? '? / / $354,964 $2.42 share. ' Subs.)-^-Earnings— Net profit after - 267,125 Federal-tax'es__u*„^i___^^ 191,780 shares share on Earnings per /V" 1945 •/ - ; $648,872 ~ '< 245,516 306,766 i 221,537 251,516 / $448,830 $1,517,075 ♦$2.26 $156,584 $0.25 . v Mexico Ry.— Earnings' 1946 471,191 * 314,607 requirements on 40,000 shares of $4.25 preferred > now*out»tanding.—-Vi 163, p.; 1162, The reoort - $579,908 railway^-/—' from ry. —V: .164, Net Net J $0.41 $0.57 share.. •Earnings per common share and common-shares outstanding * $730,519 "/'• railway_//«// ry.. oper. From January 461,018 ■ $990,304- ' 190.'464v: " ■ $0.70" , Orleans Texas & New Net taxes Income $5,671,778 518,450 $1,742,341 1 /, / 350,803 of prior years taxes which may result' from back "provisions, but the amount, if any, will be for the fourth quarter, when final results for 1946 are —V. 162, p. 3078. ; _ . . , \::: ' V' ■-''/>' 1 /'' '' •V".'' ■'■ ■■ ; V ",'v Bank of New York has announced it is preparedfirst mortgage bonds due as extended Jan. 1,- November— v ; .t Gross from/-railway—J 923,167" / . —. taxes__ V $6,933,696. 2,446.890 1,269,179;* 929,815 820,340 adjustment make payment of the 1947.—V. 163, p. 2996. 1945 $1,191,535 Year End- 7 MoS. End; . > . , 1946—9 Mos.—1945 $9,314,727 $3,417,941" $2,419,759 Number Co.—Pays Bonds— Niquero Sugar New The National City to :;V; Inc.—Earnings— 1940—3 Mos.—1945 dividend Quarter Net - Net 1946 $1,662,475 . .. 672,171 31— charges after Profit Ended Aug. Years Corp,—Earnings— y* 164,' p. 2695.' See also V. ' X > ; ,. NqblBtiSparks^IbdtistrIes| Inc.---Earnings--* * • charges ? Earned per !Net income .after- taxes—— J Earnings per shafe on. 272,000 ^shares!# Net .from'' National LittiOn Service stock July 31;'46 Dec. 31, ,'46 sales -, profit-: •- - $572,364 per com. share/ *$0.85 /••After . Period— t f . • Mar. 31,'46 $1,458,973 ' Investment & i jdcu> Inb^Eardi-ngs^ -New Corp.) Washington, ». C.—Files With SEC— .' • \ The company on Dec. 27 filed a letter of notification with the SEC for 20,000 shares of common to be offered-at $12 a share without / underwriting. Proceeds will be used to provide financial service" to negro business enterprises and to the negro people generally. ,? / Finance National Association—Weekly- Output-- •i; ) , Earns, reports number 1947 .as 64,836,154, —165, p. 76. Net National Enameling &- Stamping. Quarter Ended— - •'Net ■M Power " $ . . . .... f 16,721,974ni3,225,^720^TOO,868,759 ^ ~ •• « ,., . 19,423,047 /-*.:■ income Federal " „ , , 25,768,130 1946—12 Mos.- 1946—Month—1945 Period End. Sept, 30— Net Profit* "after of kwh. available for the week compared with' 58,400,910 in the week ended Jan; 5, f946/ aft increase of 11.00%r« / ( The comparable figure for the week ended Dec. 28, 1946 was 63,175,036, an increase of 9.33% over the corresponding week in 1945/ . 3147. the corresponding . . Jan.* 4, ended 30,580,156 39,126,192 35,509,698 Cd.^Dec^mber Salei XTpi46j2%--1945 Newport Industries, 6,945,461'k'wh.',/or The-Association ■- - P. • New England / . cu. P.,78- $2,314,736 $1,838,955 150,089/// 78,584 $1.50 { v .*,$0.79 --- ■■ ,, 2,201,915 ...... // ;/'* ! ; 1 ^ is reported at .857,786,000 cu., ft.) or 13.38%, above production "of ft. in the corresponding month a year ago.—V. 1'65, ' •' * ' ■ , - * a 756,569,000 .* * • i ' ;;-V'//u/:////r. National Department Stores Corp.—Extra Dividend—K .The directors have declared a 50-cent- extra year-end dividend and the usual quarterly dividend of • 25 cents per share on the commoft «tock, par $5, both payable Jan. 15 to holders of record Jan. 10. A similar extra was paid on Jan. 15, last "year. \J , , % 1 In addition to regular quarterly cash distributions of 25 cents eachvS made on April 15, July 15 and Oct. 15, 1946, the corporation in June, last year, paid a 50% stock dividend on the common stock.—V. 164, -V. —>164, p. 3147/ Association reports electric year ago. /. Gas output for December, 1946, an increase of 101,217,000 cu. ft. 1943 s [Net sales Net ^:/v; - > ■•/.-/"VT:■ ./•"/ National Chemical & cm ft*/ or/ 31.38%'/above koii'.///. the corresponding week a yearv ago •eborts electrid For the moi,.th ended-Dec. 31,-; 1946 the output , of? 61,803,883 kwh. This is an increase'-of 12.66% ' above production of 54,858,422 kwh; for •; jnbnjth; —c-i£: • > 2,552,952; 3,350,708 income - - 52,327,000 of increase 166,764,000 ;cu; ft. for . , . — - an $0.45 ./i/. ;' • $2,292,782 deducting •After operating MOs—1945 ; V 271,809,32"?' *339,406' 25,763,757- 304;234.847 38,452570,527 3,702,236 -• i Net 990,605 28,489,561-: 25^725,305 303,664,320' 271,449,92fe 20,023,587 -17.004.351 213,472,198 168,540,554 ; 4,763,738 ; 6,168,002 ' 51,065,930 72,329,211 —- taxes ended Jan; 3, -this week the ' $0.29 //; $1.87 / /;/ ; $1.42 /Federal: incomer' taxcg* in - 1046; tAfter* > [IFederal income taxes of $2,877,450. ' NOTE—Sales in the quarter " ended Sept. 30, 1946 amounted 'to share. com, per rrns. V'- Operating "revenues Operating expensed —V. 164, p. 3t47. Electric Association—Output— Association reports electric' output (J. Jv) Newberry of 12,761,704 kwh; This fs an-increase of 1,783,900 kwh., or 16.25^'/' above ^production of .10,977,804 kwh, Period End. Dec. 3)for the corresponding week 6 year ago. ,/// Gas'output for the Jan/3 week is" reported at 219,091,000 cu. ft/, , "production-Of 'MSales^^ |Net profit' after Federal' ': ' income - '45 Sept. 30, '45 Operating / J England1 Gas & New , 2,266,899 837,726 2,439,570 1946-~Month—1945 / 1946^-11 : 30— revenues /_—- 28,566,393 -76,832Uncollectible5 oper, rev._- - For 5,306,689 Sfcw? YQfk Telephbjhft: C©:~-Eatttin^s*-* PeriocLEnd; Nov, ' X j , 5,255,902 2961/ —V. 164, > Operating '.v 41,519 1,566,075 : 571,497 • • "45,090? lhcome__/ oper. ry. $423,03^ 173,873/ 70,28^- 'j 150,405 // 872,863 railway-/---/ ffom •Net 1944 $397,713 ''4,113,202/ ■3,769,872 Net", after5charges--- ' - ' 1946—12 Mos.-^l945 , 1- From January Gr osstfrom^ratt way*---1* * "$2,936;347*-$3/238;620> $2,925/24F Net 'assets per sHafe--—$16.62 , $17.22 ; - $15.,77 ♦Gh- basisr of carryirtg^^ securities/at"quo^'^rk^; value^^ , -k 2,315'. Net ryj^pe^^oriiel'II • ■ KB^-*-Earnirtg^~ 1943 $324,654 * 115,108'*' -39,695' $351,746'. railway/i//f,. from Gross- 1945 1946 /: November- • , . Susquebanna &v Western J^ew York; >N0t-assets 1,409,275 conditions.—Vi. 164," pf.73b/7 certain terms and ject to cancellations on 3,793,371 3,935,217 i . » Fund—Net Assets—^ New England Corp.^Operations— * . Sept/30, '46 Dec. 31, 2,600,167 2,101,763 5,830,408 : 4,023^193 j Invehtdries ! 45 30^ ;; ■ TO SfiPti 30;' 1946? ; y Gross value of undelivered contracts at Sept/ 30, 1946— •$160,951,962^ Billings oft accf/bf undelivered contracts; to Sept. 30,19461 118,386,0lT /Gross" valuev of uhcbmpleted ; Work on *uftdellvercd1 con-r 4 * >* ' . * tracts; at - Sept'.f 30; 1946_i;__/_/:___— 42,565,04^ killings/ for* 9 months1 ending Sept. 30, 1946_Ll.aaa_/u/_'/ 39,738,32^': . . $9,764,448 [Total assets -Z—^ $13,856,033 [ Cash ;7',; 2,112,250 - STATtSlPiC8:* 017" OPERATIONS jAN/ 1/ 1946, ' -. [Aug. 31, 1945. .*, Kewz York Shipbuilding > 1945 > $9,374,144 $8,618,538 * ! "share^. pef Years Ended 788,104 *__Z-.*_ZZ.AZfc:: on • Nesi;le-lie Miur Co."- (& Wh'61Ty-0wned'vSub6,)—s Ailgust 31-^ , • • ■ ■ - 1946 ; - 1945 ;V 1944 tNet Rrofit $i67,693":c $i37,80i: ;; $117,293 ]Nb: of class A shares^' 152,509^ .V V 148.659X; , ; 142,400 •Earned pef class A JshaiOLLi-w-_L" " " $1.10 ' * $0.93 . ' $0.82 I *trhpa4d; dividend -accumulations ort the class A stock as of rAtig. 3 1946, amounted to $30.65 a share. tAfter taxes, and charges.—V. 162^P.* 462. i • ' *- " * $466,030 profit [Number of common-shares (Earned per share ,.«_/ *-V. 404,696 $851,559 taxes Co.—^EarnihgST^ f * "T ' ' . 1946- profit after; taxes Earnings Earnings Subl) to'expand^ in helping »- $6,043,304 ;$45,712,267 :$38,866,434 : 1 '. • 1 , • / j:'/' \ -t Net:sales. 1946 — 1945 $13,715,573 $14,327,628 870,726 - - sales Jet 'rofit before - ; Sillonths Ended Sept. 3b^ *: / Net National Automotive Fibres* " Nekoosa-Edwards Paper ' ■ i ; $7,060;325 164,-p/3147. ~-V. 164, p. 3077. -V. Nfcisner* Bros. IncJ—0ecember Eales Increased 16.82%; v 1946-Month—1945' 1946-^-12 Kios.^1945 :. Period End. Dec.-31— - Sales* 2,827,000. 500,000 f, • " 1 $278,940 $701,619 / • 500;000 ; ' $1,40 . i *; 1 ;/"/•. amount' of the' AUsual "con-> will be given" /■! regular quarterly Sept/ 30, 1947r; based upon the 'eonipany's ope'rations duriftg the/ye'ar." / i / > The present outstanding .common stock received 35 cents per share" Sept. 25, last, while prior* to the" siX-for-one; stock split-up in July, • 1946, distributions-of 30, cents each were made on Jan. 2, April 1 and" July 1, 1946.—V: 1*64, p. 3147. - - - ^ . r \ i v - $1,790,040 •1,511,100 438,000 |Federal tax provision Net 1945 1946 $1,139,619' whereby, we, as a large : > stated that the demand for its' products continues at record levels, due not* only to the'1 lifting of wartime restrictions on the use of tin containers, but* also to- the active development work of the company's technical staff Which has been an important factor in expanding the market. To* meet the .increased requirements of many industries will necessitate; additional production facilities in various parts of the country, it was, said.f -< r,; -V-.A/'1/--/ •;. • -: ■; .-V The new plants will be designed by the Continental Engineering Department and construction will go forward as rapidly as government regulations and other factors permit, the announcement added.-*- . Earnings— National Acme Co.- Quarter Ended Sept. 30— rofit before taxes and reserves*/— can production as rapidly as possible." Commenting on its expansion program, Continental national on 2695, t$l,080,000 carry-back tax credit.—V. 164, p. shares 274,436,333 3,065,290 $0.71 of $1,245,000. .fAfter carry-back recovery tax v"v r^.vV^ . . 121,566,012 183,050,533 f2,582,274 *2,492,639 $0.59 * $0.58 sales let Jet profit after chgs. and SGarned per capital share : per of Itf offers a constructive means cooperate,'further with industry postwar peribd; share on record Dec. dividend basis "of "80 cents per share." " " ;"/V'■ . Aaron Mayks, President, stated: "In determining the dividend paid Jam 3, l94t/'the dirCCtOFS^haVe followed "its serVative dividend policy. However, further consideration to the payment of extra dividends, in addition to the dividend* prior to the close of the fiscal year ending cents holders 1945 .1944-/ :\w/,:1946 /• . of Delaware, Inc.—Pays 200 Div;:company paid " a regular; quarterly dividend of the present common stock; n'o par value,' to* 27, 1946. This places the stock oh'an annual 3, last", the Oil Jan, 20 Subs.)—Earnings— Nash-Kelvinator Corp.- (& Year End. Sept. 30— '°niS stron^workin? investor, exclusive of f incr68,slii^4y active^ . the New York .* Lua ,,,, iooK'*»-AOTWfl'r(l^/ i'j h; . ; n '/v' National Shirt Shops leased department's sales.. tEqual to. 14 cents per 'share on 324,000 shares of capital stock. §Of A. I. Namm Son.—V. 164, p. 3416. • Zv\and •Inclusive iif thA I 10,919 profits taxes.) exces. * v.;i nJ,rtVl fA oUh„11„Vl lf ,nae be deposited, the offer explains ' right to accept, and-pay for such Is It ri£ «,*«#• obtained 154,605 •/ taxes); Federal income 135,668 / first of the among foiR '^vhc1 New Yf)rlc Stftt© ItisuiducG i Lftu in the in ,1946, Sunilar invest* ments have* previously been-reported Gn9/CtGd merchandising-fieldC *The)//', /New-York Life-indicated that it regarded the present transaction a$ . the forerunner of further equity investments in the'industrial field,*^ understood the large block of 'stock, recently bought was from; the Rockefeller Foundation., ^ .... Vv... g -As of Deo.--31, 1945, -National Transit had 504,500 capital shares outstanding ~V. 16tv p. 2335. ; $638,869 $748,283 23,135 ___iZ—— deductions for Fed. additinnai 99,007 129,790 I'll1 - i- ti-i.Tr $202,944 income rovision for rtr't more than 50,000 shares bank's Clients reserve the that the is This holdings,;; and/ our of dispose Should - 539,861 $618,493 $188,714 14,230 ther income )ther of stock, other-stockholders also may . clients / are prepared to cnAh dicnntiQit! (• - ' / *""/d'»(»'•• xacintaie sucn aisposais., .... 'As agents for these, clients, we hereby agree to accept the de-,» posit of and pay for all or any part of 50,000 shares of the capital/ stobk of National Transit Co;,; at $1-1.60• a-sh&re. net/',; ^ $4,422,385 $4,045,280 Z—Z) ?rov. ifc1 Paclfitf f ■/•/•''•/•i •/'-. . such transactions'completed by a lifd Coast,'•• this large block of of td desire ell., gen. & adm. expenses Provision for doubtful accounts.—) Total ., -' Y./in behalf of clients,.-. . : ..s ours/V said the offer,, "presently purchased from one owner its entire holding of 126,481 shares of the capital stock of. National. Transit Co. at $10 a share. Because of the transfer . 4 >iscts. several he# increase agreement provides that New York Life will purchase plants which are under construction or will be built to Continental's production of •container's and will then, lease the prop* erties to Continental for a term of years. ■/ , , ' The over-all amount of the financing; will probably be in the heigh* borhood of $10,000,000, it was indicated. The initial purchase by New York Life under the plan was made just before the year-end, was said, and involved a plant now under construction oft the Co.—Holders Offered $11.50 a Share stockholders are being offered $11.50 a share for up to shares of the company's capital stock. •/■■> i ;/ offer is being transmitted by the Manufacturers Trust Co.,; National Transit. -Years Ended—— Feb. 2/46 Jail. 27/45 End. 1947| Monday, January 13, FINANCIAL CHRONICLE COMMERCIAL & THE ' - If -f T* + f. ' ' ft. „. h' ^ ^ / .<T« /r<- j,'W' ^Volume 165 Number 4559 ui t-lfa I - -I . • 215 and retirement ject to of all of Light & Power's outstanding approval of' the SEC, Under securities, sub¬ Traditionally the first complete, annual statement' Issued in the industry,'v Northwestern National Life's report shows a 52%. jump in sales of new ordinary business, from $50,658,491 In 1945 to $77,240,350 In t this plan,-the outstanding 109,299 shares of publicly held preferred stock1 of Light & Power wOuld: be retired by payment in cash1 at the liquidation price of $100 per share1, together with all unpaid cumulative .■A dividends per share which of Jane as amounted to $87- 1, 1947. The outstanding 960,992 shares of Light & Power's common stock held publicly would be. liquidated and retired •by cash payment of $7;50 per share, Remaining net assets of Light & V Power would be distributed to North American as the' sole remaining creditor and stockholder of Light & Power. " ' '■ t\>iA* third plan proposed by North American directors-calls fpr 'the divestment,, within one year, of the company's public utility holding company system. Besides the Cleveland utility, North American's sys* tehi consists <pr Co, of and Union Electric Washington Co.: of Missouri, Railway and Wisconsin Electric Co. .to $3,761)436,, approximately 8% 'compared tfittt' an 11^"' increase standing. increased, North ' American Light & Power" Co and The appro11 North; American North American directors believe that the new program will prompt and constructive disposition of the situation of the a under Holding Company Act..'1 " The Cleveland' Electric Illumiri'ating Co., one of the standing public utilities, has been a unit .of the North tem since tomers 1922. It supplies service to 1945 to1 out¬ sys¬ to from $77,431,247 bonds $8,601,054, .in the the' of as Dec. portfolio" report shows. to' ago real estate owned $876,865, maining under supplying a, demand of 804,000 kilowatts, which will be increased to 984,000 kilowatts by a $43,000,000 .expansion program announced Jan. i"7 3, 1947. v *4*r.---.=v.■'1 AA'aa 1 The Illuminating Company is conservatively capitalized, having out¬ standing $50,000,000 of- 3% mortgage bonds, 254,989 shares of $4.56 preferred stock and 2,324,564 shares of common stock. Dividends have real showed P*'2412. 0.6% estate contract further » of income year; : 1945 1944 $2,255,348 2,212,163 $2,507,260 2,109,898 Tctai $43,185 $397,362 160,318 160,866 102,5dU '"$648,902 income Interest, etc. Net $203,503 $558,228 $'242,5154 40,263 103,007 23,148 tEarnings ' <_■_ com. shr, yt-V. 59,432 •*,. — — r- 69,500 11,000 $389,032 $128,517 *$0,i8 *$0.39 . stock. , 1,373,730 shares, Corp. since June 1, Realty assets, • '* - ' v Quarters fended " - * > and War contr. fees -Earnings— :-1946 billing's Dec; of of as 31, a Wartime year 1946;/,all-, 1945 Gross ' from 1944 1943 . , paid Co. this year- Crl369,910 Cr3,668,000 cred, Net prof, subsid.-op. Net profit re¬ Number capital Earned 1,070,500 15,000,000 1 Sept. 30/4S Junef30,'46 Mar. 31/46 $2,517,822 in $2,716,256 *$2,559,430 " 1946 Was 'due to Jackrof volume arid labor inefficiency, as well as to shortages and work stoppages in both in suppliers' plants Packard plant.-1 /V v.:; 'A-^. the a;- ;..-- , u.' (Dei.)^Weekly Output— * . - - , f SNovember-^ " November-®-<5rose from railway * , from *70,822, | 4,638,421- 5,747,881- *230,415 Front Jantfary 1-+Gross from railway Net from railway ; Net ry. oper. income. • • , 1,062,908 *819,787 1944" 1944"v r -V. 164; p. 2961; company* Lignotite ®ne• Lipnotit? product line will be done at Paisley's iiignonte Chicago plant. registrar . forOntb'' Canada Of wood preservatives. . •: Jan., 7'filed*-a A registration' -stateiheftt * with' the ~ • Cost general and1 Sept. 30— " 1946 1945 A Uncompl, ord. Sept. 30_ 26^352,913 90,616,972 1944- ? t t Quarters Ended Sept. 30— Profit* after charges. 51,845,765 57,946,990* ; . 8,794,940-, Y ; 610,070 GrOss and von'-4% amort, of convertible debt and exp. 911- 27;336*;' 0>'IW1:• -less allowance for< taxes' on incv paid therfeonr amortization of emergency facilities . for prior-year, less t $32,000 orf U. S. ekces* profits tax claim for * +taX an<^ surtax-— proiits,tax^i^^/.»».„jt^___i^ piovision- for - ivxcess accounts and purposes, $52,150, and notes to basis of refund common allowed for Jan. rS'oSa - 147,000 doc AAA" 21; Payments last of rreserve* 1 Provision for tax Crl 002 f0r^i^^"rintmg^es th ' 15,000 Earned surplus at $469,828 beginning of year -Total < 7"1 Pfetoium' on * ' " ■: , 15,338 stock-__„___.—101,115 jredemption")f 7%+ 0um7 pfd.stbck 65,730' , Earned Surplus at* end Prnv. .forAdeprec; $128,075 "include of- year_ 1 and,"iri' 1945, accelerated amort., of $801,480 ^__ amort; and* fixed) assets sales and * ' expenses---^- ... " ASSETS—Cash' excess profits tax ^ on hand -refund and- bonds, demand deposits, $28,824;= . ■ Proceeds-will be used and to . capacity.—V. 1 s—.-i * ■ zsi i " crft oftd of-$178,485),;$977,801 "unamortized debt , $1.24 the next 1 . .. - -Ov * ;-""^??^ lot confcingentieS $206?- 1 basis) S * . T4'' v 1946 „ ' four years, after which ...... _ nftpv phnrcp^ 047 ^5 r ^ - - C " \^ag6s/J $50,860;' accrued commissions, $250,000 $5.87 profit A= v U. S. ; outstanding Earnings per com. share ' * There-was included afeferiil(^^^ries;';SndS®^'o^thref-H ^lfCo., $22,941 jr* accrued'' taxe6 -(leSs ?■'%%> v >>•»"- v,.* same - of Nevada) 7 $271,627; earned'sifrplus sincb' OCt.■% 1931,.$801,480; total, $4,A6,'071i-|yV; 164, iS" 3148.' a v/'- V - " - ri/ Net operatin'g incoiriei l'g incom'e;_" OtheV iricome—net (& • 5,815,000 - - 1,143,000 in- preseritipg??the1 year-eridS report,y painted in 252,328 $14.22 a 4,6Y2,000 4)921,875 V $3.33 I m and- Bell TfelejfiKbhS Co.; 5y588,834- 600,080 Earn. -per com.' share.A A *Decemberestimated, month period of a $1.40 tlncludes 4,988,754* 5,537,188' - ' ^ an $902,269 V?;;" $4.33 $960,281 258,604 1 ; 243,683' $3.49 a V -; $3.87 profit for the--period, before any proitem of $1,450,911 resulting from transac¬ gross taxes, an Special, nature'which are not necessarily recurrent. Thiscompares with smaller gross profit of $211,909 during the period of 1945.—V. 164, p. 2057. Sept. 30— ; ^ ' 1946 4 1945 ; 1944''" , $35,774 A-V $41,554 a) A $66,936. Uurrettt assets Sept)/ 30'__;_:-, .1—, 1,343,205 1,429,719 \ 1,513,245** Current liabilities Sept. 30_"—115,381 /... 114,766 > a. 184; l5o Number 'of" capital - shares"----^-a 2,091,864 2,091,864 ■ 2,091,864Earned per sh a re___ $0.02 >; y,. $0.03 a;A $0.01 1 * After - charges- and Federal taxes, but, before depletion.- -v.. 162,5 pv 139. ' - . * . • - - !Parke,* I^avis 9 Months Ended & Cot (^Subs.^Earnings-r' ; Sept. 30^-V) ■Fotal A 360,828' income^ H Common A A-'i.- 23;505,000' 24)216,173^ a 3;657,000 $1.53' estimated 19,848,000 A $6.07 refund 1 , $6,78 arising from $1,052,000 and $2,686,000, respectively.—V. 165, p. 112. = ., L 218,345 " ' ; 208,864 5,979,000 7,325,000 a7,: $5,701,462- . ■ ■ on 1 . NOTE-^-Coxripany anticipates con 4,891,580 " a A 8,120,009' $5,634,816' - 4,890)780:"61-91$1.16 4,896,789 $i.iy adjustments - of .contract prices oa salek«td,U. St Government -for1 the 1946-arid 1945 petiodi. - Nd' adjustVment " of earnings was required in renegotiation of war contracts- for calendar year 1944. a : "" 21,600,502 i 20,302,813 v 20,918,125 . shares outstanding—— Earnmgs' per shaTe-*_A_^4^;---)-- " ' 2,614,671 .... ". . $15,381,620 $13,026,462 $13;754;816." 28;2i4,f42:1 VFed? incdme and extf. profits taxes_; . * y 1946 A-T'. 1945 1944 $14,970,792 $12,808,117 $13,545,952 .y Frofit from operations Other income. *v Dividehds' 75k 1,921,721. l 921 2,048,167 * ; W «. $2,882,002 2 ma Ict Earnings— )AAyy:;y AAi! SubS.)-Eams.; "9,033,926* 24,'(113,000' ' . $1,092,160' —net1t-,,.'^^t^fOOO;i)r3,445,092';'1y':Dr5p8,OOpt;'£Y3;999;i969',(A'-j^1v1*"-':A > =J.". •'-ijNorthwestern National Life Insurance Co., Minneap- J Total incofne oliSi Minni-^Issues Financial Statement—.7 •*;: V* :;',v.,?nterest deductions ___ a (..G. /J.v. Arnold. .President) r5)926,000 S>2 rr? nos $2,950,436 2,408,559 •Net' profit? cOnvei'tible--debentures;-:$25,933|-miscellaneous--accrrials'"$16vll6;'"":f!',A'; , < - f. * , * ,■#> * Treasury tax notes—at cost), $298,684;= accrued;interest)'"" Period End. Dec. 31— dn"'4% *1946V-3 Mos.—1945 ?1946—12-Mos.—1945 'T ■ : 4%- convertible debentures,- due $' -' a.-a.; April- I5r 1966,- $1,414,500; reserves for Operating*: revenues'' ^-_ 68",134,000 65,045,771 sales-warranties/ $68,466;-reserved for-tax 265,954,000- 248;870,088 ' contingencies,<=$125,000;"-re-*1:; OpdTatiftgs ekpenseS ' _a!" 56,490,000 serve;for possible future'; Inventory?' price* 47,602,008 215,341,000-167:291,874" decline, $85,000; common-:, Taxes stock no par" value) at stated value''$l per -15,718,000 a 8,409,837 126,600,000 53,364,072 share)1 $202,230; capital" Xk'-.*^ " a surplus v it>2 950436 2 aiui ssq 252,328 ' vision' for Federal A" 9 Months Ended _ i . ' ti roo719'- $3,'58'8,641 Shares l; < 396,123- • $3.17, I, ' ■ Rfi7 2,259,226^ , it ^ 1876. p. stand-by either let may ; ^-''•4944:-0Va 1945 vokq 22a r~" Net .... _L; 396,123 Co. payable^;)61;627;234;^^ V. 164, ' ■' .e* _ 'V''< 'X"VlilABILITIES-^Acriouhts: : company Subs.)1—Earnings-— 19461 profit- $1,256,000'- $i;317;700" 792,246 , the of $6,000,000 to by Crocker First may remain as a . ' Vv 164,'11.-730 - _ . _.„nr,A nf ^a^gs p^S ^ $0.84 Federal aa " 1945- ; * "1944'' $7,936,000 $10,757,700 6,118,000 8,315,000 562; OOO' l,125,000' 4,316,000 , : and amount " 2,000,000 i $0.96 ' " $10,964,000 .. acceptanceSi re- 1943 in.1946, $224,937 in* 1945, $670,574 ia Park & Tilford, IilC, (& tions .of - - 1944 $0.70 ofr San Francisco. -Tho credit q • f EndedSept* 30-^" 1045 $370,911 a; $449,906 ; >$425,603 . duxmg the ten-year period will be 1.875/c. Pacific Mills (& Subs.)- 9 Months ya $0.98 ... credit equipinent'should approximate 25,00O;-: 1 iare^^availablefort^additional' manufacturing. .!■ ■ $375,800 *' Pacific Can Co.—Transfer Agent$513,835" aBank- of' the-MarihMtaw' Coriipany;, 40'.Wall aV, !- -">v.: I-.' St;,- Nevi' York, N. Y., v has; been appointed transfer agent in' New' YorkCity for the common stock,;part yalue. $5r effective'-as. of Jan.. 2', 1947.- -V. 162, p. 3079. 204;i2l- (after: (after reserves " emergency facilities expense, and premium (h"et), . cn for a stand-by bfr made- available by a' syndicate"'of banks headed for 164, pp.' 2696 and 2551. v.a 1946 (& Subs;)—Earnings 1946 $634,940 - ,165" volume with initial Space facilities * •*' :-5 Profit ' after; charges_^__'_ "' $1,000;3&1" U< S. : it"'""' and State taxeisL. u: g.:;VFederal $1,173,312; property, plant/and equipment for-depreciation oL $526,917! and amortization of Sept. 30— __1 National Bank ' notes^ and profit excess'profits taxes; of $302,609 1944-and $407,239 in 1943. • , .1945-', Arrangeu Bank Cre,dit~ complete equipment.—V. in , **A'fter depreciation, amortization, Federal income taxes • , Koster, Inc.—Bonds Sold—The First Trust Co. " 000-lamps, {- 91,004 (trade),#$36,249;. accounts receivable "after, reserves pf $1.124,420;,;inventories, .at' lower of cost (first-in? first-out W market, , $635,514 >30,675: $54,258 BALANCE SHEET,-SEPT. 30; 1946 eeivable 342), en'nAe 59,746 .-t-.■■■■• '.♦Inch, provision for. doubtful accts^ and notes \ ' 3 Mos. End, . , • : . . of .v'-i"I v.:t x 412,462 r $983,663 Ca sh dividend: /palrif oh 4wr df Wtetf ^ tockl Dividends on common A $223,052 513,835 *' " The corporation has/acquired the Hudson Lamp-Co. of Arlington, N- J-, manufacturers of electric-lamps,1 and wilt; operate the-latter as subsidiary.,;' Hudson will manufacture incandescent lamps of the dec-: orative and Christmas'tree type-and-flashlight," panel and other mlnia- • ture bulbs. According to--John. A.-Proctor,-President of Oxloi'd, HudsonE's annual —— \ . later J.)—Earnings— Paraffirie Companies, Inc. OxfbrrK^l6:.Co^,'.Cli^ a — ' - 112; . .Cr26.1*57>* • 15,000.• . contingencies™———____ : . $498,573 ,4,702,944V. SO.lO A 164, p. 3418; ♦Net - Lincoln, Neb., in P^ absorb costs'of —V. - the on made RESULT^ FOR NINE "MONTHS ENDED "SEPT, 30, after charges and taxes. Earnings per share on 385,138 shares outstanding. $1,973,235, $0.84* $0.82 -a payment for- land, buildings - ' $1,935,745 $498,573 income record ; Earnings per - share Jan.-28,-,1.25;.-May l»t J . comhion stock each.—V. 164, p. 2057. < ♦ * ' ' i 1, $1.25 ; Oval & Of ^ 1 ventory price decline utilized-during the period post-war; reconversion declared ,, gage bonds, af par. Fortion $2,076,281' $0.89" dividend of-$3 per share value,', payable Jan.- 27 to holders. pf year were- as -follows: stock,, rio .par ... tax fVinwxnf Jan. ,4 on and Au8- 1 and Nov. sou,boo for post-war reserve fldY" 5,988. ——. .$1,59. *- *1945 :$3;l37,838r Pantasote Co. (N. 1,228,150' 8,260,000 (The) Outlet Co;—To Pay $3 Common Dividend— The directors doubtful 600,000 5,945,000 ' " fli'nnA Reduction of prior yCarS' $3,-481,654 _i - r 5,Ooo resulting therefrom-' ? 8,595.006 1946 capital 'shares4,702,944 pharelA , $0:67 "Adjusted for' accelerated amortization charges and before renegotiation)—V. 164, p. 3295. . $8,646,980 $ll,762,89gv 166,235301,513 1,080,006 2,080,006 """^Earnsi. per sK on.cqm.-, 8,751 —V- 1(»4- P.. 2296. i 1,527 Additional - . Earned per *$7,784,887 $10,979,328 862,093 783,570 $800,933 A ' - . and contingencies';i ,':V(h-,':' Federal income/ taxes— & Net -profit debentures ... t A.;u. readjusts, . ' premium SSvf !^SgotK^f^nd"^iFVl9^ . A $5,823,044 $11,831,894 261,390 80,613 —_ deductions Postwar I $800,022' $941,691 a , Interest Other Other 3,269 income .. ■' Total income : $938,422 . Operating" profit $4,842,869'-$10,827,605 Other income J—. 980,175/ 1,004,289 7,417,415 693,156 A $4,709,838' 1,572,000- irtc'oine: on rofit -r. Other income . 1943 A 65,526,934. 53,353,790 40,771,542 ^ 60,006,150> 1945 v " Profit^ from- operations. / • According to Mr;- Lenz,, tho ■ consolidation of the* Lignotite products PaiSley series of synthetic resin arid rubber emulsions, Federal' tax' 1946 administrative'expensed— " ...... ncompletedv"""." v $10,*26',5*8' $8,827:507 Of •Selflng," of pioneered in the development •; with the preseh" • Grderst:'b'OOked-%ii_«J^ $^2,968,427 $58,123,123 $68,961,516 $3'7,I>40,872 Orders 789,815 t * cdmriahj"had -been engaged iri the manufacture casein glues since 1910.; In addition, it . Norwalk Tire & Rubier Co.—Annual Report— Years Ended Sept. 30— The' Lignotite - . ,7. , —•'/ oni manufacturing of recently improved! a/;,the the v^ , a Ctdi ~ " 9 Mos. End. 1,353,713 ; 610,081 - 1636. appointed v 48,293 5,664,664 1,174,552 GrosS sales; less discounts, returns, allowances/freight, and. excise taxes our >• Earl C. Lenz, sales manager) pn Deer .26, announced that (his firm purchased the • Lignotite Co., formerly located at 882 Milwaukee Ave., Chicago 22. The purchase'included all formulas, manufacturing processe's.rteChhical and customer records and supplies. The purchase price and financial details were not disclosed. All , i ^ 3,054 20,316- - ... 1943 " 1943'"-).SEC fpr $466,729 * 5,656,090 A The — . '75,480 441,049/ -, ; $489,902 ' •Deficit. qM • p., •. York Ortf'YellOWknife'Gold'Mines - , New of • ■ ' xtegisters witn , . •75,561 railway^ 1945 Returns despite seen, * ■'-•b3-'-f-k^ ' $401)951 *13,4i5 ' Net ry: oper, income , a 1946 '* $476,327" '"4,246" t , Net . - VnHliwMiArn rauui tfarnfndc ^vruiwesieiu 'pbifie Ult'*"'* -Earnm iuaiiuiigs Bank vr. ; „ has been v , - r 164, p. The National City . T , distribution. of has ,r ;..k ' ' uWi EleritW6>utput of this^■ tbtaled"^ 54,367,006'k*h.; as "ompared vwlth " 46,506,000 kwh. for the" corresponding week last-year, art increase of 16.9%.—V. Ife5, p:* ll'i; • * office system zone • ^ iiPafeley I^oducts^ Inc., Chicago—Acquisition— „ , * the ; our, , . * Into merchandising move are now being vAA''l"AA'i'^' v 'a production" : . subsidiary since car production was resumed in schedules and 6.728 units were shipped during the month, M. Christopher said.-^V. 162, p.-3197. ; , • 1 Northern' States Power Co;* sound car sales streamlined we .October was the first month which shipments" approximated __ : that from years, organization from limited : .., * $0.22 George T. Christopher) President, states that the company's loss of $6,060,235 on "normal factory, operations" for the nine months' period railway :__"$Ll,749i729 $12,06"8,5*06 $13,368,034 $14,571)959 A Net' from railway1—. i^A'?:2,928,I84;!|j2^39^84;^>3;929^97'itt 6,256,302 ili Patent No. 2118888 held invalid and not infringed. The opinion was Nty ry.oper. income 1,884,088 .2,593,637. 2,344,210 3,927,736 •! Written" by Chief Judge Learned Hand and concurred in < From January L-u* by Judges; ' • '' ? A> N. Hand, and H. B. Chase. 1 GrossAfrom railway.. 115,819,269 137,682,471 143,591,577 135,336,302 The U. S. District Court for the - Eastern District of Net from railway New' York* 19,885,442 34,723,861 45,982,563 50,434,994 had previously ruled otherwise.' - " « Net, ry. ,oper) income:—, 12,290,931 25,215,055 21,643,421' 31,947,192 The patent in suit is for a master unit used: extensively in the' -*-V^165> p. '76j ' hectograph art in the spirit duplicator process. •V. ' 3,280,131 15,000,003 $0.07 shares share per "•Profit.- of Appeals, Second Circuit; this corporation^ wori the Shit which it instituted against Remington Rand, Inc. and Columbia Ribbon \& Carbon Mfg.t Co., Inc., to have' the Lewis and Menihaiiy A - 1944 64,358,312- 205,018,074 354,503,602 6,060,236 *5,473,500 *18,306,131 4,403,000 15,026,003 ■ . . res, sales *\ f tin- 194&, Carry.back tax" credit— $1,090,306 Sales-^A —- (& Subs.)" Loss from operation Federal tax provisions $6,541,218 home office buildings has been sold report states; * Loans to policyholders from $6,092,528 to $5,846,792 -V. 164,. decline, J *•'<*'1 Car Co, Nine Months Ended Sept. 30— Sales contingency reserves and from $9,715,963 a year ago as Packard Motor r f Circuit. Court 1945 $0.13 . ' railroad of , from than Sales" J . 5 fOn Ixi explanation of the net profit of $1,409,465 operations, he said that'"during the war 1946 $139,978 $180,694 f$0.40 1,Q0Q,000 shares, of capital $112,743. income of Getty 164, p. 3295. cludes levels' lit ? $550,754 per 22,809 ',yy 75,000 "Ori . A ' ;y ;; profit material November- 1,754,71* $281,242 on debs, retired. Provv for income tax— and. in - 1943 $1,894,6935 A). 367,660 income Loss the g Norwich A gain, item increase an shrank; from total other deed, for 1946;. the Capital, .made a'further the end of 1946. at The item of , .31, showed other-surplus" funds to-$10,202,603 more in the country. Its extensive electric transmission and distfibuf system is fed by modern- steam electric generating plants capable of preceding reflecting'the1'nation's-high" mortgage than, 369,090 cus? and adjacent territory extending nearly 100 miles' comprising one of the most- rapidly growing industrial areas tion etc. Profit Other shows. of company nation's the Nevertheless -first mortgage-loans outstanding rose from $15,-' in l-945-to.$15,464;988 at the end of 1U46,-the statement says. '*■ Reserves on insurance policies and annuities increased • from'$95,454,094 at the end of 1945 to $104,938,691 on Dec. ,31,'..1946.. U.. S. Govefrimefilt securities .owned" increased from $70,006,804' as of the end Co., American in iri\ the" amouhT of" insurance out¬ policyholders, aside from loans; again living 1946. in Cleveland alohg Lake Erie 'rtfk electric depr., 3946 $2,955)420 2,674,178 050,161 result-in the rising to than more $3,210,705 in 1945 to $3,641,795 in 1946, the va\a7"." 'f-y >;/ $5,000,000 in home loan commitments .were made during 1946, mostly all to veterans, a little more than half have been actually consummated, the report states, 'due" to delays met by contractors'arid veterans iri the' construction of homes to be financed* At the samg-tirne a record volume \of mortgage loan payoffs wasrexperiehhed, , y Sept. 30— royalties"—. Exps., taxes, Although over by the company priate time, it is proposed to submit to the SEO for its approval, and to North American stockholders -for • their approval, a plan for con-; fcinuance of NorthAmerican, with-reduced; assets, ; as a; cPrporatC enterprise not engaged in thfe public utility field. \ ' ■' C y In announcing the present action By North American directors; Ed-1ward L. Shea, president, said,1'In view of .the,-' recent- settlement; of inter-company claims and counter-claims between Illinois Power Co., '• Payments statement Electric the At Corp.—Earnings— 9 Mos. End. Net, after , , Power Pacific Western Oil ! 1946;< total insurance in force increased from $618,063,402 to $685,226,548, and total assets rose from $126,962,632 as of a year ago to $140,658,170 as of Dec. 31, 1946. A ' f "the report shows record' preniium income of $18,148,981 for 1946, compared with $16,086,223 in 1945; total.death claims paid amounted Net - as sales in the first no nine months of against $39,653,754 in the same 1946 period amounted in to 1945.—V. $47,867,701, 164, p. 2961, exps. Net income— 1,235 — ——— dividends Goanmon , 859,017 . ., ♦Ealrns. "After Period Ended Sept, 30«— jToIS assets " U;- S. Government securities I Inventories Y ' idujfjcnt assets — Querent liabilities ——-- — su.rplys —-— 2,280,511 Number of 70-cent pfd. shares__i-_ Number of common shares—..vi429,498 ned — ,—.Vv 164, 957. p. 2,179,854 '!> 2,142,975 —V. FOR "RESULTS ENDED other revenues.. iX A-rti- -iifU — U. <£«* * Nft&iincome after charges and taxes. Earnings per share on 425,000 shares —Vy 163, p. 2585. > . ,. . U*. - - $2,539,573 $1,804,620 $2.50 7;v • . ).15 ' depreciation, 7?|j905:shares.—V. a • * : $1,159,758 . > $1.60 J 1944 >•'. and pro¬ $4,923,678 notice in the > before delay 15 • the to Gross Net ry. oper. Philadelphia Electric . • .. .. Co.r is to • holding a those of public holders Sales i The f electric> output 4, 165, p. 112. kwh., company . 1 '' sales 'r f 1946 ^: 1943 Eamv per share "After charges "ffet income ____—$418,311 O^stand'g Eftirus. per "After com. com. all shares, share-. charges and 310,062 • ; 310,062 - "v. $1.35 taxes.—V. $128,028 $0.64 . 162, 310,062 $0.41 $0.66 •• - . : 7 ; 4 W. M. the During the last century, this company has paid out more than $1,-; 625,'000,000 in benefits to American families according to an announce-. m$nt made recently by John A. Stevenson, President. The• company vaU&mark its centennial in 1947. Of these henefit payments, more than tirade-fifths- or approximately $965,000,000 went to living policyowners, bJWfc-the. remaining $660,,000,000 was paid to the beneficiaries of policy' V •• ;■ When the company was founded in Philadelphia in 1847, there were 2^ policies on the books at the close of the first month and 142 at that end of the first year. The. Penn Mutual "family" today is prot?P|ed by more than 750^000 policies.—V. 164, p. 957. than Y newly elected a director. >" . Pennsylvania RR.—Earnings— ' Gross from j Net; ry. >. 1945 '. oper. 10,052,177 income___. il' 1943 14,795,765 22,913,363 5,477,711 6,799,464 9,147,752 21,220,311 : 4,445,647 . Fjrom January 1— Gross from. railway..^ 755,339,794 872,152,835 Net.-, from Net;ry. railway_____„ income^.. oper. 931,917,947 895,787,432 71,259,195 191,554,126 256,071,665 24,653,411 101,574,148 118,470,610 101,711,206 291,125,497 ;i:' f>. EARNINGS OF REGIONAL SYSTEM (Excludes L. I. RR. and Period End. Nov. 30—1946—Month—1945 $ Railway Net rev. Orders Net ry. 164, $ * • * ; 'V-', income. 14,779,237 70,748,188 Pond Creek Pocahontas Co; (& 5,101,899 1,016,373 13,495,000 12,354,731 1,101,026 14,414,720 ' 712,399 598,948 4,623,006 175,522 193,382 1,885,955 2,299,943 handling,;)!: Gxqss tions to necessary railway railway.—„» oper. income—_ Y 1945 1944 $630,985 ••'87.520 "100,326 $814,562 80,215 "308,785 "109,573 "202,647 - "Deficit.—Y. 164, p. 2961. ,5?"*1t ,1*1 10,700,049 2,242,804 . "265,744 .. 11,587,350 3,046,441 527,924 Y !:Y. $826,838 340,000 Y 440.C $386,838 $404,547 169,742 169,742 $2.38 i%:\ $2.28 ■fxy'yv**' ■ r ' Y1 = , .,>■ Y - YThe on Jan. company 2 shares ($10 par) filed ft letter of notification "With the SEC preferred stock to be offered at $10 a share. Inc., Washington, D. C. Proceeds equipment of radio station and to. Underwriter, Rochdale. Cooperative, will be used to finance erection and provide operating capital. . 5- registration statement (No. 6582) filed with the SEC on July preferred 75,000 shares of 5%. Cumulative convertible (par $10) has been withdrawn.—V. 164, p. 322. " The covering and stock M Pressed Steel Car Co., Inc.—New I. .John Snyder, Jr., of 164, p. 3149. director.—V. Director— has been elected , Kuhn," Xoeb .&> Co.", Public Service Co. of Indiana, Inc.- Earnings— 1 1946—12 Mos.—1945 $24,885,049 $24,768,035 $27,178,812 $27,149,857 1946—11 Mos.—1945 Period End. Nov. 30— Operating revenues Operation— Power purchased Other operation — 1,449,943 depreciation— 2,687,850 2,555,585 1,110,218 8,186,496 — for Prov. for State, Federal taxes— ; local & misc. 2,023,118 8,052,216 1,661,228 2,786,423 2,064,692 2,194,390 1,921,795 - 1,625,892 1,207,041 8,927,909 1,725,457 2,923,267 1,471,877 7,322,484 1,450,134 Maintenance ' Vf ,,u'V' :0 Inc.—Earnings— SIX MONTHS ENDED SEPT. 30, 1946 Mich.—Registration Precision Parts Co., Ann Arbor, Statement Withdrawn— * , 4 , ; Net Net „ $2,200,929 Y $0.88 this appointed Director of Industrial Rela¬ ° company.- with with that In has been Burk H. Atlantic Refining Co. for the Y ! past 12 of inc. & ice for yf Fed. income profits tax— chg. for portion — exc. Special prem. plicable & to Net Other ap¬ exp. long-term debt refunded and Job evalua¬ Y SfSfS in 1945 operating inc.- income ■;SS Y: $6,556,422 216,210 (net) profit per com. "After all : share charges ; , ! 1946 $563,659 $0.38 1945 $635,043 $0.42 1944 ! '/ $596,695 $0.40 net Int. profit, for 1944 excludes a . -V. other & Net and taxes. non-recurring charge of approximately $67,000 applicable to 1944 earnings in respect to sale • of properties in February, 1944.—V. 162, p, 3080. Y Y ' • NOTE—Thq . 30— _! , p. 54,000 2,446,000 $6,895,410 $5,703,299 2,446,000 $5,509,871 Y 88,855 221,872 ■ $6,772,633 2,037,889 $5,298,727 2,260,179 $7,117,282 2,215,265 -a— $4,734,744 $3,038,547 $4,902,017 112; • • 945,106 , deducs— income 165, Y y^Y^Y $10,200,410 $11,904,510;2,939,000 860,68* 2,524,000 Y - 312,000 2,894,527-: $9,427,422 $10,928,871 749,000 Fed. normal and surtax '■> 2,871,000 Total JY • X)r336 882,713 ;; ; 1945——., in sale of $10,200,747 $10,959,403 gas, prop, periods prior to dates of Mr. years, that concern as Director of Organizations and position he was in charge of the firm's industrial $9,427,422 $10,046,158 income oper. oper. water , Glass Co. — Director of Industrial .y'■!?' 9 Months End. Sept. "Net 11,585,266 3,268,877 1,057,496, Yi'.. '• L. serv;ed Earns, railway— 10,300,245 Net, from railway^—' 872.159 Net ry. oper. income— "1,381,207 YYYYY' .' Pittsburgh Screw & Bolt Corp.—Earnings— $727,919 "13,115 "284,511.; Gross from f" ^ SEC— Prov, engineering, office methods, organization and policy, tion programs.—-V. 164, p. 3149. 1943 $751,583 for Methods. From January 1— - 1944 1945 >.... 'Vl.ft >:• for 7,000 their in connection Associated f Burk 101,258,789 1946 from Net from —- D. C.—Files with ' profit after charges/taxes incurred Samuel Pennsylvania Reading Seashore Lines—Earnings— Net ry. t - I' jpotomae Broadcasting Cooperative Inc., Washington, antici- V transportation 'jjV'p Relations— 3296. November— ' ., $744,547 $710,684 339,484 $2.09 — share p.. 1637. are Pittsburgh Plate 11,722,398 ' .- contings.— & inc. on per Philco storage battery plant. " —Y. 164. •' •,• now resulting in a con- •: the — 12,699,370 7,170,246 23,974,776 tax profit Number of capital shares Earnings and. a non-recurring expense with the debenture financing Earnings per share on 1,998,470 common shares outstanding V. 164, p. 2325. J Y? 56,120,891 1.142,056 6,767,609 ■ \% ;'>*> V' Subs.)—Earnings— 1946 $1,260,684 550,000 Net r to * after charges Federal of completed batteries declined backlog of orders is 40% greater equipment -•"v"1' 191,271,637 1,332,368 5,417,640 Coi. (& Subs.)—Earnings—. • 9 Mos. End. Sept 30—- 4 RESULTS FOR . Net $ 73,981,144 756,830,730 874,013,133 oper. p. ' 59,201,907 686,082,542 682,741,496 Railway taxes U;nemploy. insur. taxes. Railroad retirenh't taxes Equip, rents (net Dr)__ Joint facil. rents (net Dr) —Vi • 72,921,572 10,006,985 1,227,000 , „u* / fc . ' Profit 34i8,\;:YYe;;Y:::yyyYy.y;;yy^:-ySYy;: #yy:/ 164, p. "'•h'-:' .1946—11 Mos.—1945 62,914,587 from ry. cper. $0.26 yy^YvY'^-y^yy: Y; ,y Philip Morris & Co., Ltd., expenses oper. $65,684 Y 250.000 $0.27 profits No. of capital shares •Earnings per share id part: for storage batteries for material materials essential of 'I—v. ' revenues- oper. R^gway ' $67,217 •250,000 4 Period End. Sept. 30— total & E. RR.) B. ,> - Net ' . • 124,445 ! i 1946—3 Mos.—1945 Y 1946—9 Mos.—1945 ^ $611,305 ' $443,952" $1,391,360 $1,448,164 1,032,216 1,036,301 1,032,216 1,036,301 • $0,59 $0.43 Y ; $1.35 21.40* ~.V.163, p.,317;;Vf ^62, p. 3080. • ■',•,• ' Y production and the interrupted operations of heavy industries, which is among the largest users of storage batteries," Mr. Heinritz said. •-"Any estimate of 1947 volume must give primary importance to the available supply of lead, and there is reason to believe that at the present price of 12.55 cents per pound the supply and demand:, for lead will rapidly attain a closer balance. On Dec. 20, 1946 the,. Civilian Production Administration announced the imminent removal of the last of the wartime restrictions on lead, and this should be very helpful to the battery industry. Y- -YY-1' -?/Y: Y "Other materials essential to the production of industrial batteries which have been in short supply include rubber, steel and lumber. The situation here too is much more hopeful than it was a year ago." 1 , '1944 additions acquired 1947." important, ities railway___> $72,819,903 $73,823,964 $82,923,368 $80,088,374 railway Net: from 1946 . -a; ;,,4 $190,129 Y 250,000 —.— Plymouth Oil y YY1944 $206,635 "$9.82; — Y-Y——-: >r-V.a62i p. j680i r) - y-y, ■«■•:,Y/yy * y\. - y,. »*'.^ ; y y ^ ^ yy1 -x 3:}( i*-*' j"-' 'iV'", ;^ • 208,602 ; . 1945 $138,812 rY 71,595 | — capital, shares Earned per share • supplies of materials, of which lead is by far the* output of the industrial storage battery in¬ dustry in 1947 should reach at least $55,000,000, an increase offv about $10,000,000 over 1946 levels, according to a year-end review; and forecast of the industry's prospects by M. W. Heinritz, VicePresident in charge of the corporation's storage battery division. "Total industry shipments of industrial storage batteries in 1946 fell considerably short of the anticipated volume as a result of scare-,VY , ' - I, J . . { : reasonable With most > , 7 . ' ~ $415,237 ; — tax, net ——— No. -m and export, requirements.»: Techniques and material processes developed during the war have also been adapted to peacetime use to improve storage battery quality and performance. Present indications therefore are that both em¬ ployment and earnings of the industrial storage battery industry Jpseph T. Berta was elected President of the Pennsylvania corpora¬ tion). Since 1928 Mr. Berta was connected with the Philadelphia & R^a^iing Coal & Iron Corp,, more recently as General Sales Manager ira charge of distribution' of all large tonnage.—V. 164, p, 2551. : November— Y.> /1946 * profit-——L . V":'V;Y pated increasing demands Will increase in was current 1945. .completed and shipments Division's of end "Recently - although mining t communications, special meeting of the board of directors/held on Jan;. 7;;:it wag. announced, that. H. Lionel Kringel has retired as President, direc¬ tor and Chairman of the board. He will, however, continue in an advisory and consultative capacity. C. Prevost Boyce, senior partner of Stein Bros. & Boyce, has been eleptcd Chairman of the board, and John S. Routh, President of the Corp., Co-^—Earnings—» y; / ; i--_— ^ Y Net 3,432,221: ■ 787,532 -; 1,444,086 1,444,086 * $2.37 ^ : $0;54* • income vY-YY siderably accelerated shipping volume which will help meet the , Coal 1,444,086 -IW 1 :Y- •' $1.13- >. ■ • $0.18 snd taxes.—V. 164,' p. 2057.„ * The the at facilities a Routh Federal charges week of 1946.— Iron .Co.«~-Earnings^s 254,551 1,444,086. after kwh., :aa increase^ corporation's storage battery division obtained almost dollar, volume of industrial battery orders as in the; year, somewhat. Pennsylvania Coal & Coke Corp.—New Officers, Etc. At 1,661,049 • -. Pleasant Valley ,^Wine the identical previous oyners. 0oal Heinritz, Vice-President,-ott Dec. 31, 1946 "In - - 134,825,000 to &iki ;v r; ••": .^' ;• ■ ■;.-•>• share Years Ended Aug. *31-- Corp.—Backlog of Industrial Battery Higher—v;^• ,v Pertn Mutual Life Insurance Co.- -To Mark Its CentenThis Year— vr •Earnings-—.. 1946 ^ - common per Profit Philco 3079. p. ■ $205,192 310,062 $197,695 ■ v: 1943 ' 1,667,608 .1,802,435 - 1946^3 Mos.-—1945 - 1946—fr Mos:-^1945 ' $20,265,022 $15,794,471 $52,093,692 $44,384,8641 profit X——-- 1 No. common shares J—' •'.v.71' '.4 '1944 ' - other inc.— Si •••-iv.;; 2,545,653 " -2,082,643 . $1,062,088 ^ $1,571,927 . *• '$948.07l': 586,092 ■ ■ 574,432, •574>432( > $1.81 , ' "S2.32 , ^$1.24 "After dividend requirements on preferred shares then outstanding, tlncludes profit on sale of property and equipment of $78,004 in 1946 and $560,950 in 1945 and- after -deducting 4loss of $389,226 on sale ol property and equipment in' 1944.—V. 164; p;:3296.;'-•'''.' in' the., Standard Gas. i &] ■ which the corresponding *-» . , "Net > 9vMos. End. Sept. 30 amounted 7.7%, over ' Period End, Sept. 30^- ; Net i shares com. Earn, Railways Company, : after Net Income No. * • and? Its subsidiaries->for. the of .this - company 1947, or Philadelphia & Reading ,.. peerless Cement Corp.—Earnings— Jan. V. Qonversion of pounds sterling was made at $4.03 Va to the pound a&dc the^ exchange value of- Bolivian currency is- approximated at 42 bolivianos to $1.—V. 163, p. 2997., - 7 : r ended 9,683,000 1,136,891 : charges ; —— i : 1,901,119 Federal, ahd' state taxi.—-L-I. * $39,030-- Philidelphia Electric -Co.—-Weekly; Output— week 1,657,823 460,415 125,261 7,157,240 * '1945 '.. '1944r revenues.U.^—J—^ $38,528,933 $34,245,773 $32,144,286 2,325,633 "1,658,46® - '753,706 710,395 and oper. fProfit Railway of ♦ Co, of 487,618 ; 273,875 ' % Nine Months Ended Sept. 30— : should be The investigation came about as result of a petition by. Pittsburgh Railways bondholders who'charged the Philadelphia Co.-with wasting ;-the. Railways Company's assets and dominating it to the "detriment of "public* shareholderSi"-4-V, "164^ p.'3418^ * , * " f 2962.'; ; p. 162,790 6,712,008 12,160 6,227,055 Pittston Co. (& Subs.) ' . . . system and is parent, of. the most 6f the 59vuhderliers. " owns 164, —V. 60,305' income—.v oper. $562,422 208,051 - 4,365,795 railway^—. V from ry. :; 13,933 ;«■! inoome.-— : • 1943 \ $607,247 $387,894 70,006 -From-January 1— > from railway——** Net "1944 1945 i:. $447,358 « Gross - - * " 1946 > : > of limited" or .. Nil railway—a... from question of whether the claims of Philadelphia Co."should .... i - railway—. from Net and its 15 and in West Court of Appenls ruled that the investigation . t"652,293 Nil $0.77 miners— an, he'"subordinated -•securities.. f"931,223 Nil ; 2325, p. Net equitably. more ; Pittsburgh & West Virginia Ry.—Earnings directed Philadelphia 5 607,352 §"1,274,752 tlncludes November—; ! of Dec. 1946—9>Mos.—1945 • $41,287,012 1946—3 Mos.—1945 ' limited to lhe> relation'of Philadelphia Co. with the Railways Company, -• f that operated profitably/ff v..'- be ;;/ $15,932,053 $11,458,827 $37,602,143 ; loss, "Net 'v. 164, Pittsburgh .Railways— on that company rand before adjustment .1- . i ... . ' order Court S. The Circuit - fM7expected increase in selling prices of tin retroactive to Jan. 1, 1946,-; estimated at £37,000 net after taxes,, (equivalent to $149,000V P^s 3jj5€0,000 bolivianos (approximately $83,000).' »Fpr the first half of 1945 profits after taxes amounted to' £300,202 (equivalent to $1,211,315) plus 41,727,337 bolivianos (approximately $903,508), which .included approximately £65,000 (equivalent to $262,000), representing retroactive increases in selling prices of tin ap-' , can \ : i-' $474,236 shutdown expense during May and June, 1946, due to coal strike and $811,297 of strike expense for the period Jan. 21 to Feb. 18, 1946. tlncludes $3,600,000 tax credit and after $4,564,701 charge for accelerated amortization. § After $4,109,400 tax credit and $4,564,701 charge for accelerated amortization. \ for filing date the in sales profit,——, Earns, per com. share.. after such date of the hearing. top company in the system, also into claims of all creditors of the Railways Company. - . properties, of the Northern 165,'p. 112; " • ' 7; Period End. Sept. 30— ' - Appeals at Pittsburgh has rejected a request investigation now going on in Pittsburgh; under the direction of Federal District Court, of the merits of its claimsagainst Pittsburgh Railways Co. be expanded to include an inquiry U. Third by l^or the six months ended June 30, 1946, the corporation reported an p^Cgble to the period prior thereto. i of present nor prospective volume said neither the Net days its security holders Loses Plea " $161,133) 2 authorized this line runs 145 miles Jan. on said.—V. ICC Net catenated net income after,taxes of £94,364 (equivalent to $380,759), (approximately railroad the; 5,752,003 or on indirect subsidiaries-in the Pittsburgh area among •power exchange for Bolivian currency, such settlements being subject bolivianos Commission Commerce Interstate to abandon its entire, system. The main Wayland Junction, N. Y. to Hyde, Pa;; The. Commission . Virginia to take the necessary steps to eliminate various complexites in the holding company's corporate structure and to distribute voting (eoyivalent to $262,000), representing retroactive increases in selling m^es of tin applicable to the. period- prior thereto;; /;■. ^ '!"• T^ie relative amounts of income expressed in sterling and Bolivian cujfenc.Y for the nine months ended-Sept. 30, 1946, the report states," aff!ebased upon provisional settlements with the Bolivian Government o/fthe amount of sterling proceeds of sales deliverable to the govern-; 6,767,590 227,036 203,091 > traffic is enough to justify the carrier's continued operations. "The record affords no grotmd upon which to base a conclusion > ,i$rr $0.85 60-day a 30 Light' Corp., postponemenc. ;direct and 40 Tjie corporation reports for the nine months ended Sept. 30, 1946, ajv estimated het income, after income taxes, of £198,594 (equivalent 't^$801,327),'plus 31;858,453'bolivianos (approximately $758,534):yYYYY YFJpr the nine months ended Sept. 30, 1945, net income, after income i t^K^s, was £418,644 (equivalent to $1,689,229) plus 60,592,363 boliviano£ (approximately $1,442,675), which included approximately £65,000 ... & Commission's The for additional an requested .7,Ifatino Mines & Enterprises Consolidated, Inc.—Earns.: by., decree to later revision. and Power i in Y * 1945 Y $4,330,000 $5,050,000 (est.) allegations contained Philadelphia, of answers 1946, $1,869,366 in 1945, $2,412,705 in 1944 andb for Federal income and- excess profits taxes. tOri 162, p. 3079. • 7 ; ; V,' *77.7 in 1943 . 6 the to Standard ven of $1,030,859 in $1|774,494 • the hearing, scheduled for jam 21 in the proceedings. >■£. Dec. 5 order required the respondents to file 25 answers parent charges, and other . -1946 i: 409,997 ■■ company from 5,752,003 Y 5,752,003 $0.88 V: $0.75 Jan. on - - $922,222 $1,141,800 ; $1.27 YY: $1.58 . 7" ^YY;yY,'/ Sept. 30— - 1,354,361 , 192,886 186,763 Income oper. 165, .p. 112.; The f Y; Y;:>777' days prior to the date of the hearing. .:.'v^ • The postponements were im. response to the tequests Of Philadelphia Co. and certain of its subsidiaries, and Standard Gas & Electric Co., : Subs.)—Earnings— 1945 77 1944 77, 1943 YY/ V ' 1946 . normal interest, "After \ $1.13 Commission's The Parmelee Transportation Co. ,(& I 9tMos. End. Sept. 30— profit t^ynings per com. shr. ry. 406 Pittsburg, Shawmut & Northern RR.—Authorized to •, .Abandon Entire Line—v C>'•'l:V3-J|:X. $681,574 ■ »Y<, 1,557,095 V : 1,332,593 '.'1,407,018 304,502 270,898 " 251,417 railway from Net —V. 7\Y 1946 31, shares outstanding '■I'- 1574. SEC Feb. until 63,585 outstanding—.— 1— bross from railway $4,960,307 $9,128,913 . , income oper. $112,326 'c. 7,959 $119,300 $120,433 $118,771 22,749 23,657 ;. 21,455 16,596 v'; 15,388 ' > 26,477 ■, From January Net ' 1946—12 Mos.—1945 charges ■'Y;y')7., 77 1912.: 163, p. their YYY , postponed until Feb. 10 the date for the filing of answers by the respondent companies in the agency's corporate simplification proceedings instituted against Philadelphia Co. and certain of its subsidiaries. At the same time the Commssion postponed 429,498 ' . $608,485 outstanding per share The SEPT.. 30,, 1946 _„L. — Sai^s and ry. capital 1943 1944 1945 1946 railway.. railway... if' Pittsburgh Steel Co. (& Subs.)—Earnings— Service, Inc.—Earnings— MONTHS NINE Net t$8.55 . from from Philadelphia Co.—SEC Grants Delay to File Replies- - J1 Parks Aircraft Sales & and profit after chgs. & taxes Shares 1,408 i- 164, p. Net >3,652,442 / after taxes income Earned 234,084 :■ $700,000 9 Mos. End. 2,010,487 1,019,609 1,622,853 1,130,298 284.101 3,305,556 1,855,722 2,138,448 1,375 429,498 932,790 1,157,702 256,809 2,831,079 1,044,500 r ■ ' Gross Net . $5,410,651 $5,081,662 $4,398,756 —- Cash November— 1943 $1,282,592 1944 $1,430,468 t$9.54 •Cola,. Co.! (& Subs.) - -Earnings— 1944 ,■ 1946—Month—1945 Earnings per share on 585,000 common —-V; f t$2.39 . RESULTS FOR EIGHT MONTHS ENDED AUG. Net Yfjy, ITEMS 1945 SELECTED BALANCE SHEET 1946 } ; 'share-Y ' - I ^ $159,037 $1.87 $61,019 Y':-S $2.34 share——. preferred diiidend requirements. • ,; Sales 644,272 common per com. ' charges and Federal taxes. tOn 150,000 shares of fOn 750,000 shares of capital stock,—V. 164, p. 2696. Period End. Dec. 31— 991 Y 1945 . $1,356,297 J$1.81 , —Y $1,790,864 — per ,1946 ' Pep Boys (Manny, Moe & Jack)—December Sales Up . $804,300 Sept. 30— "After Stock. 989,000 , 986 - 644,263 $145,256 Y 33,882 , profit Earns, 1,763,689 $706,268 $1,005,508 - dividends "Net 1,827,182 income ...,:l,725,508 1,471,768 Qt&er deductions ;_u—35,500 P^e^, inc. and excess profits taxes.- 'r 720,000 730,000 mi Preferred 12 Mos. End. 1944 . $2,624,601 1945 $2,251,103 1,402,972 ———$2,469,965 and dcprec 1,678,240 profit Neti after . 1946 Pascal Year Ended Sept. 30— Gross Pittsburg & Shawmut RR.- -Earnings— Pennsylvania Salt Mfg. Co.—Earnings— Co.—Earnings— barker Rust Proof 1947 Monday, January 13, CHRONICLE THE COMMERCIAL & FINANCIAL '!■ (Continued on page 253) ;. . 107,016 $5,810,316 2,471,852 $3,338,4631 j ; / n Volume 165 Number 4559 THE COMMERCIAL & FINANCIAL CHRONICLE 217 i>W'» rn» Stock Record New York Stock coi Exchange DAILY RANGE OF PRICES WEEKLY VOLUME OF TRADING YEARLY RANGE OF SALE PRICES FOR EVERY LISTED ISSUE ./-I,■- LOW AND HIGH SALE PRICES Saturday Monday Jan. 4 Jan. 6 I per share *84 *100 110 9% 86% *100- 9% *47 9% 93/4 48 103/8 *33% *53 *107 r 107 5% 92% 36 %' . :f 107 5% 94 *107 9 471/a 16 56 *54% 343/a 9% 35 - 92% . 92 < 36 36% 58% 5% 29 45 *96 *92 19 •; - - 174 19 ; 20% ' 34 34% / 101 .=$ 101 36% 37% 94% *48 / • 72 39 9% 40 / 71 29% •77 29% 30 77 14 72 • Z 14 6% *133 . 63% *90 '/a & *49% ;v:V 92 50 *23% /< 155 r 23 £\ *96 % 97% 43% ■:-> 187 50% 25% *155 49% *20-% 43% •■46;/ 6%, 6% 21% 203/4 20 3/4 23 22% 22% 97%- 43% : *96 y8. 44% 43% 95% 43% -. 3,300 24%. 24% '. *10% 5TB ' - *16 5%. 6% 113% 115% 22% < 23 : 22% 100 •39 99 40 6% 63A *48 9 *48 32% • 106 408 *11 *103 . 2G% *ii5y8 *13% w 14 "' 115% 26% v American •115% 115% ; I per share 27% : *98 - 101 *14% '*1234 13% *36 3 4 38 117% 5% 109 109 . <;-■ 16 180 353% ,, 4%% Amer .56% 168% 36% *158 .34% 27% 180 35% 22% *36 57 /1. 57. 169% 36% -34 35 ■34% : 27% •;: " 29 .;" 29 29 *42 44 *142% *48% " <■ 29 *41% 146 43 49% 48 22 37 171%;;.; 171% 172% 172/a 172 % 82%;. 81% 81% 81% 813/4 83 83 573/4 58% 154% 58% ♦117/a i 16% 103 3,4 34 1547/a 58%'.- 122% 17- *118 86/2 10/a *66/2 17 . 1033% 39% 10% 70 51 *109 - no *49% 17% *15 50 17 % 17 5 5 37% 38 117% *86/2 ... < 33 118 17.3/4 106 34 993/4 102 ' 88/2 87% 10% 10% V <• *677/b 39% 50 58 *103% 34% 100 83 157 58 16% 106 34 993/4 86/2" ■: -■ 17/2 *103% • 100 50/a 120 82% 156 - 34% *99% *48 %.< ;r W 156 157%;- /■•< 10% *67% 70 39% , 40%' *49% 52 *50% 52 *109 ; 17% *15 17 110 50 17% 16 180 *50 / " 82% 155 56% *116% 16% *104 27% v *28 j *143 50% 227. 105 < 55 117% 16% 323% 98% 99 85% 82 157% 57 1167/a V <16% *104 : 31% 987/a 39% *49 48% •109 10% 70 *82% 39% 51 393/4 *48% 12,400 { 35 *155 *144% , *51% 172% 81 82% -81% 155% 157% 563/4 60 \£;; 12% Jan Y% Jan Xl 17% Nov Jan 40 Nov 44% Oct 2 63 28 35% NOV 31% Dec 23 8% Sep 24 99% Jan 21 .^—1 par ■ - Mar 109% Dec 56/4 10% 68 Doc 5 , 47 Jan Mar "5% Jan 70 Jan 9 •' May 10 16% Jun 5 • 163 . 15 26 Jan May 22 108 Jan 119 Nov IB 7% Jan 28 44% Jan flep n 14% Dec Jan 15% Jun 22% Nov 22 Dee Dec 4 18% Mar 30 118 93/4 Sep 9 11% Mar 12 ■ Nov 38% Jan 28 1. 4 Dec 14% Oct 41% Dee 128 Nov 37 c 337/8 16% *104 30 99% 98 85 *82% 1 10% 69 97/a *66% 40 ' 82% 100 ; ; 3,500 300 , 16% 20,800 ; 106 • 31% 98 . 86% 10% : 39% *109 110 100 50 49 49 17% 16% 17% 15 5% 5% 5% 5% 5% 37% 37% 37% 37% 15 5% 37% *15 5/a 37/a 5% . 373/4 —- - ■ Oct 34% Dec 5 160 Jan 8 25% Dec 4 ;< Sep 38% Oct 10 138 Co_ Sep 24 47% Jan 8 100 ^593/4 Nov 21 ; 25 & 25 73 P Oct 10 76% Oct 1 ;100 Woolen— 1163/4 Sep 102% Sep 29% Jan 100 ■ a 18- No par 1 25 10 ;■ Dec Dee 58/» Feb 41 Aug Z 50 DM 128% Jan 161 DM 6 158 Apr 10 67% Apr 18 200% Jun 3 99% May 21 100% May 17 174 July 9 78 & Oil 3 70% Jun 5 100% Dec 30 182 % Jun 105% Nov - - / 65 116% 8ep 8% Jan 15% Jan 29 99% Jan 9 Jan 190% Mar 90 ~5% Mar 26% Dec Nov 31% 140 Dec iT% Dee Dm Jun Nov 60 Va Jan 10 81 14 67% Deo 9 xll4% Mar 21 43% Jan 7 x64% July 11 10 15% Oct 10 20 62% May 28' Jan 38% Jan 24% Jan 48 July 38% July 113 109 10% Feb 5 12% Aug 4% Jan s. No par 26% MSf $2 ilVt Bee 11 23% Sep ■- • 49% Dee DM wov 27%May 27. 13% Sep 4 4% Nov 21 24% Feb 5 - 121% Mar 112 49 27 ■ Oet Dee 29% Sep ~ DM Dee 60% Jan Dec ■ * 91% 8 38 -■ 90 161% •9% 6 May 21% . • . Nov 51% Feb s. ■ 196% Jan 43% Mar :■ 61% Nov Jan < 65/4 Jan 145% Jan Dec 6 19 Oct 30 Sep 5 30 Dec? 4 41 - 108 Corp 157 May 28 12.50 Co 29% Jan 9 35 Aug 43% 5 64 Dec 164 29 24 Sep Feb 31 Jun : •«% Dec 60% Nov 27% Jan 28 3/a Jun 7 44% Nov 111 17% Jan 22% Jan 110% Feb 87% Dec 31% Nov May 10 38% July 11 43 * 121 11 Oct Jam 153 Apr 25 50 Vo Feb 4 30 13% Oct 30 99 41% Apr 6 No par Paper Co Inc. - Sep No par No par ,No par Elec preferred Copper Mining - 150 48% Oct Corp aaBsatttaa ' 14 prior preference W : 100 Dee Jan 32 Aug 40% Jan 164% Jan 172 5 24 Dec Mar 30% ? 17% Apr 20 50% Feb 154 75 Apr 5 733/4 Jan 29 191 19% Jan 15% Jan 52 7 No par Tobacco Archer-Daniels-Midland ■ Sep 24 45% Sep 10 165 100 preferred Andes A 1,700 19 13% Nov 194% Deo 95% Deo 11% Jan 176 Aug 21 108/4 July 12 20 Aug 29 33% Feb 6 275/8 Nov 22 Refining Anderson, Clayton Anderson-Prichard 300 Sep No par Co 42 3% 33 . 100 No par $4 1,300 , 19 No par No par 50 • 2,300 , 95% Feb 26 Anaconda Wire & Cable Anchor Hock Glass 2,300 16 14 Anaconda Copper Mining 500 49% 16 25 / Amer Zinc Lead & Smelt $5 prior conv preferred 17,100 ; / 130 49% Conv : I ' —, Feb 100 Wks 8 Feb .100 & Teleg 6 23 No par 142% May 2% Jan 60% Jan 14% Dec 19 Nov 19% Deo 39% Nov 54% Jan 22/aJun 186 No par No par Preferred " 48 1st American 300 4,000 Z5 Water $6 2,000 . 133% Aug 13 123% Aug 12% Nov 22 Tobacco— Common class B_,. 6% preferred American Viscose Corp 5% preferred 100 16,300 2 3 - Am , 19 100 American i 10% Sep 97% Jan 5 ? 41 24% Jan 130% Jan *173% Nov 15 27% Jan 3 Preferred Sumatra 3 • July 15 1 Apr 10 88% Jan 100 Steel Amer Telep 520 ; Highest / $ per share Mar % July 60 __ <31 11% Mar ...->10 non-cum Sugar 34% Sep —No par Mill™.; preferred Stove ; Am 5,200 109% 17% San'y preferred Foundries Stores J Jun —No par No par American 2,000 157 48 48% com American 900 Year 1945 $ per share 3 Jun No par No par ; conv American ., 19,500 81% 38% > < 53% 173% ;< j 69 Light 45/4 Mar 21 Va Jun 24 1 Building Co Smelting & Refg Amer 800 /'., / 1223/4 17% & 21% Oct 30 par 100 $ per share No Ship 6% - 600 ; 146 ; 1,100 ■/;; ; : /: Lowest f per share No Ltd Preferred American Snuff 4,200 :• 42% ■«.;< 55% 32% Power Amer 10 / 27% 28 *117 106 Co < 1,200 158 Range for Previous • Range for Year 1946 Lowest4 Highest par preferred Amer 22o *49 16 19% Nov Jan 91 May 11 55% Jan 9 No par American Safety Razor American Seating Co 8,500 ' 109 17% 118 Jan Dee 96 10 : DM 9% 20% 11 1 Fdy CO——No preferred Rad & Stand 4%% 300; 110 17% il Jan 2% 129% May 15 ' 44% Apr 15 10 100 American Rolling 4,600 < ' : 169 55 1167/a $5 Am <640 36% <: $6 A5 630 *49 49% 10 in Preferred 35% 14% 58% & Metals Amer 180 105% 21% 167 ; 51% 49% r 50 49% *15 10% *66 15% 35 . . 10% *67 < ,1 , 14% 33% V 32% 273/4 ■; i-37% 28% • 28 42 ; -« 41% 146 : 21% ■ 172% 172% 81% ; 81% 156% 106 . 42 ... „81% 31% 85 34% . 37 158 ;; 33 % 51% 82% / *156 33% 145 10 Sep No par 6% preferred American Molasses Co American News Co 16,300 2,000 2,400 26,200 I 108% ./ *176 f . 105% 14% :>;/- 59% 171%; 1723/g 81 15 ■:*'[*;. 119 108 ; .// 36 118% V < 169% 37% 38 Fcr footnotes see page / 17/2 *15 5% 40% 51% *49% 173/4 5% 38 ♦109 50 10% 70 52 *50 110 *49% 39% *49 87% *142% S 13% 169% 37 Amer 170 12% 59 36% 136 13% 169 42 Sep Oct 37% Sep 5% Oct new 3.90% cum preferred / Amer Much & Metals 1,000 3,900 / 1 700 15% 14% 14 31% 600 35% 42 32% *27 27% Deo ; 10% Jan ' 100 18 . preferred Amer Mach — 13% 35% 583/4 28% < 14 135 1177/8 , 158 Oot 29/4 Nov 1 4,800 30% v; 22% <; 82 84 *156 < 109% : 26 101% 38 <21% < 171 84 36 % 25% 13% 15% 14/8 36 6 EXCHANGE ■ 38 117% 35% 35% 23% Jun 28% Aug 8 / 14% Jan 29 3% 50 Wn DM Jan ' 15 1 preferred Deo 149 30% Jan 11% Feb 4 Nov 42 156% 10 July 10 Deo 127 18% Jan 90 par STOCKS NEW YORK STOCiC Shares 13% 109% *176 22% 7% , the Week 39 : M80 . 14% : 105% 14% 300 Sales for Jan. 10 *100 31% < 35% 56% 168% 143 50 13% V4' 27% 28% 42 13% 105% *21% - 134% •3 *37% 15 %r 33%, 33% 27/4 27/4 28% -29% 49 48 : ; •: 36% 159 143 134 35% 573,4 42 *142% 144% Jun 13% 13% Oct 10 10 ' Internat Corp., American Invest Co of 111 American Locomotive 11,600 , . non-cum Jan 112% Mar 17% Nov 21 5% Oct 10 > Jan 67% - t preferred sAmer 300 ^; t per share, 26% >14% 105 5/a . 168% *156 27% 27% 36% 167% 158 *176 15 •*35% 37 '158 " ;v 22 117%:'' 108 115% Friday 101% 31% 117% 15%' • *100 107% : 1053/4 143/4 37 •168% >■ 36% 163 1, • 6% 14 1 / par Jan 27 34% Apr 22 32% Jan 28 75 .No par No par . 26 37% ." 13%\ 13% 180 105 15 56 27 ; t per share , 13% *176 105 %v *36% i 115% ,; / 96 Oct Deo Jan 110 ' DM 199 v 14% / 37%. - 13% 117% 116% <22%/ ,. <v,/. conv American Home Products American Ice • 100 13% 6% ,• ;:/;:;;.U,800 11% Jan. 9 31% 38 9V8 :v; 13% ' 26%, j 116 •, 135 13%:' 13% 107% 108% 15% 16% 22 168% : 14% 31 *133, 2,100 *103 -110 - I-IIZ-No $7 2d preferred A. $6 preferred American Hawaiian SS Co American Hide & Leather ; 100 5,200 $7 preferred- 39 Jan 17 112% 183% Jan 1 164% Jun 135 10% Aug 89% Feb 10 Feb 108 40 No Deo Jun 23% DM 55% Oct ' *100/ .101 : 900 500 *ll/a Thursday 26% 13% ' 56% 26% 15% 109% 15 9 ■; 26%; 27% 116 : , 6% .//;■ V Inc Amer & Foreign Power 400 ;.:,? 3,000 ; < 51/4 < ;•' x33% 34% ,y • 13% t per share 31% 108% 16% 105 33% *13 , J. 101 6% 11% 26% 37% 16% 40% Jan 41% Nov 22 5% Sep 41% 80 Jan 15% Aug Oct 20 ,. DM Dec 69% ; Mar 150 10 Sep 11% 20% Jan • 72% May 28 132% Mar 20 12 19 ; < 71 Jan 128 100. prior preferred 28 x41 21 120 Sep 17% Oct Jan 1 20% Sep 20 97% Dec 10 Distilling "Co stamped 35 11 Dec 21 Va Nov 21 10 Jan 43% May 106% Jan 15 / 210% Mar 29 104% Sep No par 10 Deo 23 30 / No par Chicle 56% 18 184 100 Deo Jan Sep Oct 100 Inc Deo 38% 11 Va Feb X137 42 Nov 22 96% Oct 9 American Encaustic Tiling 1 Amer European Sees -No par American Export Lines . 4,900 *49 . 1153/4 ' • *38%';s 39 % 6% *11% Jan, 8 <135 % 13% Cable preferred DM 14 79 No par Colortype Co American Crystal Sugar — . 21% „ *99 13 26 21 '• 9/8 / 9%; *103 110 Wednesday 118 37 •, • 35%,;;. 36% 35% *36% 15 38 •176 105 105 <■ 14% .•14% *21 ' • 22% 11% *115% Tuesday 117 16 % *176 v, 27% 30% conv Fdy 30% 48% 3% 10 Jan 64% Apr > May 16 57/a Oct 30 Deo 104% < 10 88% Jun 36% Oct 30 Deo Deo 24% 16 45% Jun 129 1 26% 194 24 30 • Deo DM Dec ' 2 Jan Jan 27% Aug 20% Jan 53% Jun 11 19% Apr Deo 42/4 108 102% July 29 74% Dec 12% Nov 27 —No par 100 preferred / Nov 21- 72% Oct . 100 / & • 25% Oct 30 /' 1 Corp 9 57% Nov 22 50 American 14,900 57/a *112% 115 ; ; 50 33 % ;9% 110 13 1155/8 *133 13%; 14% 117% *9% 13% 50 m 33i/4 *ii/« ; 26% 273/4 *98 101 . 9 • 25 Car American ,2,200 ; 19- 5% / • 100 6% 51% *103 11% 6 per share 13% *123/4 39 13% V13% 9% t 110 18% 5% ' /16% . 31 134% Co 15% 62% May 31 < 95% Nov 4 < 39% May 27 j Jan Jan 13% 30 •Jan Dm Jun 74 153 Va Mar ' 37% Nov 22 1' '— Radio non-cum 1,900 6% •*16 1 39%■'$39% 7- Jan. 1 15% : • •134% 22. 99% 393A 33 , 101 *14% 30% 30% 136 - *49 26% 28 *98 - 15% *30% *133% ■J 27% 99 6%. 115% \t per share 27 % 5% 99 *38% . 333/8 Jan. 6 & Am Chain & 40 '^400 6 •112% 114% LOW AND HIGH SALE PRICES Monday Jan. 4 19 114% 22'/a 51% 9% r 19% $: 213/4 1. *163 : 6 Z114 32% & *11 ■V/V 13% 7% - , /> 6% 17% 19% *16 , 6% 27% Saturday V / <11% 6% 17% 18% . 99% .40 *48 - 9% 108 *11 < *16 22% 63/4 - i? - 18% i 21% 99% 33% 6% 6% 115% 51/a - 32% U/a 13 <-:< 26/a 13 5% - 39 9% f mm*9m . 18% *113% . / 40 6/2 ... 51% 3*% 17'/a 99% £ ♦39% 6% ,*16 ■ 18% Shoe 39 6% 60% Jan 22% 633/a May 27 ' 6V* ■ ;•. 115% ;v 22% *98 I r 17% 18% 6 *113 ■ r 17% 183/, 171/3 , 6 . No par DM Jan 91 6y8 Oct 10 // 12% Apr 25 Oct 10 75 Apr 25 ' 64% Sep 20 91% May 29 Chemical-No par" preferred Cable 370 22 Corp Nov Jan , 44 50 Preferred™ 2,100 21% —i—1 Aep 9% 17 2% 28 108 / 91/2 Nov 25 25 Jan DM 56 / 18 29% Jan # 30% Nov 22 < No par American Can - 800 : 153 <22 Amer /•,/ 1,800 108/4 21; Brake 212% Juu 5V 99%i Nov 25 Cem DM 84% , v July 30 Aug 1 26 , 30 31 Ve Nov 22 - DM Jan 15% 1 28 113 part-29% Sep 19 * y. 6% preferred American Bosch Corp-,.-,^Am Oct 56 7 61% May 28 « 10 330 ://• 154 100 Aug 8% Jan 17% Oct 10 / No par 6% 61% May 27" 103 10 —No par ; 6 DM 'L 3 p. 18% Dec 3%% cum conv pfd^—,100 American Bank Note . Jan —.—.—100 Mfg pfd Petrol 5%% ■ No conv American Airlines 1-/10,900 • 3,500 ' Inc 12 Va Feb Dec Nov 122 38% Jan 98% Jan 10 913/4 Oct —No par preferred conv 38 > , , : :, 57s 33/a Oct 81% Deo 17 DM Deo 47% 84% 81% Apr I Mar 30 DM 17% 88 13% Mar 32% Jan 22% / 29% Oct 10 ; ; 69 % Jan 28 52% Oct ,;'91 82 Jan 28 100 1 Dye Amer Agricultural "'*95 :< 9720 43%41% 43% 3,200 43% :' 29,500 , 115% * 107/2 •••;'. ' 953/i 21 5 Portland Amerada . '.. gtd— Amalgam Leather Co Inc ' 67/a 152% 21% Nov 25 3 135 90% Dec 20 / 8 8 /I A-' 6% & Co cum Alpha 2,400 957/8 115 223/4.<22% V; 97 ' 188% 49% 50 / , 3/4% 1,200 :^|188% 156 21/2 135 6% 95/4 > 19 5 Stores Corp preferred _—i 4% .1,300 45% *133 , 108%: 153% Sep Co AUis-Chalmers . 30'2,400 76% 70 14 1,100 14 25 *107% Mills 6% 9% 44 - Kid Allied : 7:1,100 1,400 / 713/4, 29% , 115% ,25 107% 155 97% 97 % - 107% 155 93/8 '.,71% 50%. *114% 1 , 41 14% 50% 243/a i;. >; 22% '"/• 23% - 24% 108% 1571% 33 % 180 'r"v. 135 5 Industries Inc Chemical 100 ;; West Ry Allied V:' .V; .7/3,900 *39"% . 188 a 188% 115% 943/» 45% , *133 50 // 115/4 94/2 79 ■ 10 •/ Allied .13,900 : 6% *48-.53 6%» 6% S-C 94% 95 * 37% v77%•>/;•:„ *75% 45% 6% 188 . 114% 14% 94 186% If 51% *107% *76 135 - 1003/4 36'A 6% 93A - 100 • Allied H/' : 13,400 100/4 & Allen , ^ 2,000 323/4 :.v 33% 30% 'i/l' 46' 6% 92 : 24% 21% *95% H 43% 187 107% 23 V :: 158 107% •• *133 7% X 933/8 114% 21% 23 135 - 77 % 46 r 34y4 33 72 18 114 Jan 20% Feb 21 Oct common • • Jun 9% 25% Apr 59% Apr Nov ., 1,900 1,600 1,300 : / ' v * < 30% *14%'; 143/4 s ' 24 % ^♦155 • *76 . 45% 114% 23% 21% 77% 20 ;.H 71% ' :/'■:/ 6% z92 m 50 ■/;. : . / 60 1 24% Feb 33 Min Feb May 28 68%Jun 104 ; Highest $ per share 19 41% Jan 28 ; 100 preferred : Alleg 173 Va 34/4 ■< 40/4 ' 9% 30'/8 •133 187 114 1083A 155 *20% 72. 29% 143/4 93% 50 24% *107% 71% 5?"< 7 < 186 / 113// 113 72 173 79% 40/4 , 93/4 31 77%: 135 6% 91% 187 40%. 40% 41/4% : Gold 10 8% Dec 30 / ' No par 19,800 / 19'/a *19 50 . ; 102 19'/a 33V« 6% - 79% 30 453/4 135 33 *48 71 ' 14% *44'% -45% *133 94% 9% *96 37% /-/ 94% :, 94% 6% 40 ' 20 3/4 36% 79% % • *100 ' 9% >10;<;: VvV Juneau Aldens Inc 30 il Inc Vicksburg Ry_ . 44% 34% ■? 33% ' ' 1003/4 • 4 & Year 1945 S per share May 13 19 19 Allegheny Corp 1 4,000 v t 5%% preferred A.:——^-100 57'-'900 i $2.50 prior conv preferred-No par : 44% v •v 1,800 Alghny Lud Stl Corp —No par 56'% < , 19- 33 -. 37% 53 a 40 ; 77 78 / *13% v <; 10 9% - 72 : 29% ; 102 34% 7y8 78% 38% 9% 187 *48 500 • 323/4 6% 89 38 ■ ■ Alaska 169 x50 24% Sep Range for Previous Lowest Dec 22 441/2 Jan 35/2 ' 19 • 33 94"% ' ' ■ 4 '34% , 57% 451/4 174% 175% 19 34% 36% '• 36y8 * 203/4 101 31% 55 <•' -?' • 18% *33% 32% 7 • *79 174% - 34% *100% 33% 37/s 44% ;i;, *96 >!' 20% 174% 34% . 94% *31% << *6% & *19% •100% 101 37% 383/4 943% 94% - ./< 28 Nov 10 — Reduction '.f''f 8 No par Corp Address-Mutigr Corp 4,900 91 30/2 Feb 26 13 ya Oct Alabama ■ v 1946 $ per share 1053% Oct 29 2.50 1 '* Admiral Corp •<■ -•.■; Highest 12 Express Air 93 -.iv . 57 45 102 *97 19 33%. 57% 44% 175 ;<;;I9\< 33% *561/4 ; 20% 174 19 *33 ■; t 45% 102 *97 19 " 28 . Co 61Apr 10 9,000 ; ■ No par No par com ; t per share Co ;.,130 53/3 *92V£' . 93 * / •" 353/4 57% 45 v'' 106 51/3 Lowest Straus Motors Adams-Mills . 2,400 ' 29 100 2,500 '/ 35s/b 35 y« 105 ; / ; 93A 81 Steel Adams ' 92 36%" 56% i \ 102 174 - Wl fc. 55 53/8 Acme - 2,200 35%;.', 3% 35% , 59%. *44% < 107 *106 3% ■ : :-v35%".-36:\—- 107 283/4 '283% ? 153/4 9% Laboratories ACF-Brill 500 55 ' Abbott 3,800 343/4 351/8 10 vY'v* 4^ 56 *9% Range for Year Par Abraham ' 8% 151/4 34% U'- 5% .5%: 29% ■ EXCHANGE 1,400 48 • 36% 107 53/8 * ;;1'., STOCK Shares 83 8% 48 15% 9% - 1083/4 ;; 92% 8% 48 ' 34% v •; STOCKS NEW YORK 105 15% " 3% 82/2 ■>90 48 /a *55 *28% 94 9 85% 110 ■ the Week , t per share ,/ ;; 363/8 . 29%:,;/ *92'/4 , 8% Sales for Jan. 10 153/4 *47 9% 5%;,. W 5% 29% *100 / . 33%:/.: , .9% /■/' 104 56 ' 30 ■a 33% 9%/; 35% 108 5% *29 *54% /:•; 91/2 36»/4 85 •100 16 34 33% 9% I 86 48'/3 16 Friday J per share 86 9% *47% V 56 34% 9% 35% Jan. 9 $ per share 110 9 48% 163/s 58 Thursday 87% ♦100 15% *53 86 110 48 15% . 85% '■ ,■•'/•' •• Jan. 8 t per share " ■' ■ Wednesday Jan. 7 • J per share 86 Tuesday / , ■ 8 13% Nov 1% Nov S0% Oct : . • . ' <■ , ,v4; yyy: ,;•» V;vfc, i.' .'•>.. . +*'• *+■ v»» . ■ HIGH SALE PRICES Wednesday row AND ; * 132 *158 160 54 55 >101 105 128 *130 133% 130 50% 97% 29% 103% *24 24% 62% 117 117 V4 / *115 *25 *24% 27 *11 11% 7 *16% 17% 25 ;-;7 7 r- 27%. 6% 6% 67/a 45% 45% 44% 45% 20% 20% 21% 15 15% 15 21% 2iy8 13% 13% 28'A 66% 67 .68 'A 115% v 35 17% 27% .44%. . 25% *51 55%:; 25 25% 53'A 23% 23% 23% 233% 18% 187/a 18% 23 22 22% 63 , *105 18®'a 37 , 16% *108 i 17% 106 103 33% *32 *57%. *35% 36 *110 49 A '•••• 5% > 12% 12% 14% 15 34% 34% 27% 27% 58% 58% ' • 27 107 27 % *100% A , 36 AV; *35% A 103 46 34 -v, 5 75 *28% 29% ♦98 76 12% 101 22 23 35% 35% 18% 97% 97% 4 4 97% 75 *89% 95% 15 J 7 Va *6% AAvA>. 7:< 22% • •;• : 79 .M,A 79 *86 89 *86 . . 22% 17% 5% •<■*5% 17%. *103 *103 *24 25 •.'• •. 24 7% • . 7 - 105 si *102% .- 25% V; 4.;.,. 24% 25 99 • *90'A ;aa : •: >91 _ AA; 89.7/:.. 109; : .6% *86 ■ 7..;,;-5 ! ,7-4 Buffalo •: * • Terminal i A A; ' -110%- Mar 18 38 Va Apr 6% preferred Butler Bros Butte < 3,400 c: <7 1,800 ' 61 Copper Byers Co ' . • A130 k Feb 2 22 Vs Jun 14 25 45% Feb 2 7; 108% Mar 28 11 59% May 29 •' 46% Jun T 26% July 22 • A III 102% Aug 16 (A M)-ii—i.AA ... 7, 15% Nov A 95 *. Nov 59 V* Mar May 31 98 Alio 1 May 15 100 1 .5 No par 14% A/ 3% May 28 Saturday : Monday,. Jan. 6 7 / ; Jan. 4 # per share ' - f Jan. 9 375 Jan. 8 Jan- % .V; t per share > A 7,1 per I per share < $ per share 7^ Wednesday Tuesdayv.. ;> .<>, share - Friday Jan. 10,'A;i I per share .v. :"77' •:"y:'.:i: Sales for the Week Shares . '•'•"• • . ; * - ■ : - , • ^ 1 V ' ' - • V* 28% *55 56% 3% 3% 8 ,7 4 8 26% 26% ' 14% 14% 121 ♦120 Va *23% - - ' • *46 Va 24 ?. 24 '"*57% 7 59 14% *13% ' ' 56% *54% 129 *127 38% 38% *47-; 157/a *36% - 51 >•' ' < '•• <56 ? 3% 27- 3% : 77/a 27 -;•'•■"• 7 ■ <726% 15 y8' , y::: /A 24 143i *54% 123% 48 50 15% 16%. ' 36ya 37% For footnotes see page 227. 12% -■ 14% 39 38% 1" . A - . - 48, *23% '' 54% ! 54% " *127'% 127% ' 39 37 59 L 128 V* 15% ■7 13% 58% 46% A. 24 *13% 56% *127% *46% 23% 12% 47% 48" - *57% 137/a 54 • 38% . •••'- - , 60% v : - •< *13% 54% *53 126% x38% 49 -- 38% ... - 4 - 126 39% 37% 12% *58 48..... -48 '• A 24% . . :' .59/: '13% 54% 13%' 54 "• - r 38% V 38% Zinc-Lead Calumet & 50'7 Canada Dry Ginger . 27% Dec 2 3 63 * Oct 2 3 Sep V 3 6% Oct 9 20% Oct 10 , 7 12% Nov 22 ' A—1'7A; .' _i Hecla Con? Copper—5 A Campbell W & C Fdy—i__No par. • 130 i Ale Inc..1.66% : 1,400 •-•-•* •« : ' .: ■A. * •7 v. 130 430 - 500 2,800 " 1,400 Co • 43 100 Mills Carolina Clinch & Ohio Ry_i Carolina • 2,800 113' Nov 21/ No par Ry . . i_— -i__'__No par Capital Admini?tratjon class A_il : $3 preferred A i.i ;Lio Cannon 200 100 ■ Southern Canadian Breweries Ltd——No par' Canadian Pacific Ry 25 : <•' 17,800 i $4.25 preferred, Canada 180 16 38% Callahan •• 2,500 8,800 46 Va 15% No par ; p% preferred —; ' 126 46 % 43 38% 13 58%' *13% 38% 39 38% 24% 126 128 16% 12% .*57% 3,900 - Caiifornia Packing i »" 2,500 * ? 48 *53 ■/A' /"A 7% 123% • 7;A *23% 13 -3% 15Va *121 A .y- 48 ' 10 27 A 26 ■Ay 15. 27% 15% 38% '7 :A7% 123% 4714 13% xl26% *47 .* : 4:".15% *23% -24% Va 38 4 . 3% ". ' 5,300 56 - 54% ■ 29 77 28% 7::*54 29% 3% ?-3% 7% 7% •7? 15 •1*121 46 % 4- 13 • 2 7% 27% . • • 4-,V 8 ' 54% 3% 15% 15' *121 121'% 121 - .-■••28% 28%. 55 *53 • 8 14% ' *57% *48 . 3% 28% > ' 15% 121 • 7Vs ' 27 A *13% 38% *54 3 %": A- 8 13% 59 A A 13 i3y8 13 14% ..121 48 *46 55AAV ■' 7 29 28% 4 28% •7 ; *54 A 3% 8Va 26% 28Va Power Carpenter Carrier Steel & Light Corp Preferred 4% Co Co— _• series ,100 100 __5 _io _50 Oct 9 24 Dec 18 7 11% Oct 10 51% Nov 22 12yaOct 30 Oct 10 112 Sep 723 38 >Ai Dec 28 39 Sep 11 13% Nov 22 4 60 34 V\ Nov 25 •:■■■■ 1946. A • Jan v Aug Deo " Dec 28 161% Feb Nov, 39 ;22%Mfir Range for A< Highest 0. t per $per share . ! Far j ;« r - Range for ;Lowest Year . 28 Noy Oct m 7% Jan 87 112% July 11 ? 40 < 27% Deo r A 15 9% Jan 6 35% Feb 18 81 ' Jan 105% July £ '.,• STOCKS NEW YORK STOCK EXCHANGE ; ;V,:'V'..;. ^ Thursday \ Deo 7V4 Mar 77% Aug . '•* SALE PRICES LOW AND HIGH 20% 13% Jan 39% May 28 _^_No par / Byrop Jackson Co— < ' 13 15% Jan 29 Apr 4 21% Jun 100 Participatingpreferred.——il00: 80 Mar 22 . 119% May 27 —i_lO Zinc-i.i.. 23 25% May 31 99 7 Jun -i._A—j.lQ0 common preferred 4'/2% 50 r 102% < ;Bush Term Bldg 7%- preferred—100 1,600 C 17% 7 Apr 22 45% May 28 ^ ;l _ii__i._i Apr A3 115 • •Bush 1 May 70 • L_1 Co_i._i._-V. 10 24% " 7 - 38% .. 2,000 - 109 *5% : No par 20 7 89 A t 1 4% preferred TOO A 3%% conv 2nd preferred ^^100 3% % preferred •—^^._i_——100 Burroughs Adding Mach—No par A 81" 9 16 53% Jan 28 42% Jun 3 20% Feb Burlington Mills Corp com— 1,700 , 9 Dec 95 Niag El Corp $3.60 pfd—-100 / Co i__-j_j.__ii_.No. par A Bulova Watch Co Inc— 5 11,206 22% A 34% Jan Co- common—-No paf7 Forge 8 . Aug 12 11% Jan 23 35% Dec 31 Bullard . 10 .6% 4 A 5% .7 A 18% 4- A 16% 38% : 7:18% 100 Va 102% 102% 103% 24% 24%. 4 ;A' 25 ,y. 25- 444 ; • 150 95 ••' 61% Jun 107% • Buff 1,800 •■■■ 22% *108 4 >4 5% A 5 Va i 93% *78 23 4>;<; •;•:■. 7*108 1C9 *93% •••.'. . —No par Co. 9 48%. May 13 57% Apr 22 Roller. Bearing Brass -Apr 30 69% July , (assented)_-l6o Maine RR 9 73i% Jan 112 (The) 400 14% A .;• /A; 14% 79 V. 22% 99 A *97% ,, _15: 10 10 v-Mar 26 35 A $5 preferred __i--„i___.__No par; ' '3 A A Budd 14,900 18% : 66 Vi May A -L-A—: Jun , 18% Aoig 21 ? Co__—AAs" I preferred1 —4^— liip.; 400 7 • A 58 v A Bucyrus-Erle 7i 71,600 7 79 1 28% 100 Va 30% Feb 16 33% Jun 10 A (The) May 31 46 $3.60 preferred 0^000jLNo"par r- 320 18% 4 14% :15%74 *86 ; 17,200 . ., v.. 95 87% 23 v; •Ay,, 22 A A 22 AAA 34% ; 33% . . Al; - 94 •' 15 •=■ 7 A 77: A;Ay: 23 .A ?<■: *108 ' A 5%,7 ,4V/ *5 77 714 18 18% *3.03 *97% ■A -7%:.7;V'.L:,7.yv 87% £.. 109 "'•.;! 5% ..; v, ,'4 19 " ..*93% 94 y, ," *79 - 18% 98% 95 ,14% V/a 23%;; .34%- 44.434% 19% 7/ *93 :• • . - 23 V .23 ; 18 25 A ' -A; 90 *108 •; 105 lb;l:; A 23% 22; A- >90% " . 35 *97% A7, 81 44 : • , y 15 *86 18% .4% 105 i 95 '*79 . 23% 109 98 7%; 77 : : 7 94 • 29 Va 19%. 4 4-7 18%- *93% 7 14% A-; - A 90 *108 108 17% <■ , 7% 79 ' 23 108% *5% V. 5Va 22% 7; 75% 4,300 • VA 75 83 '/a Apr 10 commpn-'——A-i Bruns-Balke-Collender 800 I- 12% , 31% July 11 168 2 Mar 22 At -' 7% K 123% 12'% A;. 12%. 13 A ;•;•• : <474%.. 7 74% -v. 777?7.4%:; 28% 7 A 29% v 29%' A 10Q 100% 100% y 52% May 10 114% July 31 3%% ; 17% v *122% 123%.;?' *122 Va 22 35% 16% 17 14 112% Aug 6 2.50 preferred A—Li —_100 Brooklyn fJnion Gas_„_No par Browri Shoe Co Inc corn _15 • 17%; 8 Jan 36 % May Briggs Manufacturing—No par Briggs & Stratton— ; No par 1,400 . Jan Bristol-Myers Co common— r 20° . •' 102% ■ "Apr 58 Co—No par Corp_^_j,7^/ 3Va % cum preferred A—J • 17 37 112 A—_.A——No par B Co Bridgeport A - 280 25 35% Jan 28 ,Co new 5 Airways Inc—__2.50 Brewing Corp.of America!._-_15 - 8,100 Jun 28% May 13 Braniff 4,600 3.6 *102 142 100 't 1,100 8 Mar 30% Apr 25 43 Jan 15 L„5 ii,46o 27% - 36 . 16% 34% 22% *90 ' *77 ■ Class Bower s May 23 - 110 . Borg-Warner t 55% 106% 27 37 .'}:i \' 102%: -*25:.25%^ *36% 100% *99 A 500 4 24% Nov 73 118% July 18 ' 75,100 . May 23 3°% Feb 18 31 Aluminum & Borden , 12 May 16 57 (E W) Bond Stores Inc r 100 28 7./55% 106% *102 1234 *28% • 35 A 95% 14% ' 123% 75 ..;•• . 99 ' 97% 14% /- .'.4 29 97% 95 v 75% , 28% 99 187V 93 v 17 3s <4 16% .16% *122% *122%; 123% >. 13 C i.AA 12% 12% ' 27% ; . 16% tA j :35% 34% : 35% 28 56% 7 57 *106% 107% 27%' 27%A 25% <■: *94 35% 27%: . 103 *101 A " " i' < 5,500 „*9§ 7 V 98 15% 15% 41% Jun CoLC-.— 400 a; Boston & *s4r loo : 15% "*15% . A .11,000 12 ; 64% Aug 14 Brass./ —5 Bon!- Am/ Co class1 At.—-—No paf; 2,700 35% .'11% 68% Jun Ml BoeIngCAirplane.>CoL-'-AA-/i---./C5''• 180 : May 24 30 -JVo par C-l A— & Decker Mfg Bohn 20 7 ; A 5,300 »-• 38% Jan 30 30% Jan 16 CoCiC—-AAA-A-No bar Co-C— J L-l $2.25 conv preferred—.:—No par A Bliss & Laughlin Inc.2.50 Bloomingdale Brothers LNo par 300 118 35% 35% • 37 25% 7 *89 C a! : t / :35*/a 29 *36 25% 25%" 94 y4 14% 103 •*5 ' 106% 27% 27%;; t:;: 36% 19ya 18% V. 107% *301 35% 18 106% 36% AA 23 2 /. 47% Jan 28 ' 800 ' 57% 56%. A 27% Av % 23 83 Va Feb .V- preferredi————JOO Bliss . 600 , , 28 273/4 59; *106% • :d 35% V Jan 10% ^an> 9 <4 32% Aug 14 ; Feb 16 :41< Qct 3Q ;; 18% 6»/e Nov 22 A'Blaw-ffnox 4,600 67 -30% ? 48 48'/2 $4< ,45% - 47% *98 i -100% A. ■• 35% 12 A 1JL % . . 273A *56%' 76% A 15% Oct . BigelowVsanford .Carp Izul.—No par Black 5,700 f 30% , 45%". 35% - 13% *99 Nov 22. 18 .. Jan 113/ 23% July 23 37% Jan 29 r preferred—— & 7% ■■i A 700 54% • *114 '! 48%" " <4*28% A 29 100 47% *94 A'-.. 100 : 100 ,'"t 15%: At A; 15% 15% 15% 35 34% 35% 34% 271/4 17% . , ' 123% A •;A *73% 18 10% Nov. 21 16% Sep 19 Jan A 60 3 Foods--—^—1 C / Bethlehem Steel' (DeU/C——No par: 500 . 20 54% . *94 58 12%. 12% Sep 25 • , Sep Apr 110 18 Best 700 A c, 18% 19%; », ' *98. A' 100% 53a *4% . 35%:- 11% '."• 28 .' A 17 *• 123 Va 12% 5 Va . . 35% 35%. A *122 17% *16% *122 . 30% July 40% Aug 13 -25% Jun 10 . Co—-A—-——,—107 -——100 Howell, 4% % Best ; ■7 7,600 .67 ,V'c 32 <<>.45 •.* 100% ;> ,*98 5% 36% ' 12% 58 , ?4% Dep- .14% Jan 4 Jun y 135 'J„. ^5 / Beneficial Indus*. Loan_——-No par i V Cum pfd $3.25 sef of 1946-No ^ 100 22% '45/<M&v .44 16 -4 16% .V"J *35 37"% ( > 65% t A- i, :il$ *114 ' 116 31% 48% 38 *19%"" 20%" *54% 55% 55% 65% :■ 45% • 26% *25% <?•: 47% *106% IO71/2 .27% 1 27%. *35% 36% *101 - 103 ' ;A 25% 25% ■ *105% 67 ; ' 341/2 ■ Nov 22 114 Bendix Aviation—a 1,300 - .22% - 16% *35 37% 21 Bell & ' v 116- . ■••-•; 27% p >A: " .16%. 16% . Bell AA-: Corp Aircraft i <- 800 4,200 57% 35% •17% *54% .- 114 . * 65 ■- •« M. *94 •. 110 a; 14% 15J/4 100 *95 >1923% :45 I 20% V A J/a 18% *35/ > v 55 55 T * 114 r 21% . 35% 16% . 32 *5% A 12 -•• 171% 38 ' t 31% *35 ir 36 36% . A 45 20% :• .58% *35% 18% A 49% *98 ; 100% *5% *35 7 33y4 Feb V7iy4 97% Jan X53%. Nov 22 preferred——400 4% %' Belding-Heminwaj'—1 72,400 > l *57% 23% A 46% 100% 46 v.- Jan Deo 113% Nov 120 Dec 48% Jan . 2 ft 110 May 13 10 •, 34% Apr 17 r25 pfd—-—-—100 cum conv Beck ;Shoe : 2,800 i : 146 5? 36V2 *35 * ^-^48%- ; 44%: 45% *98 A • 31% 31 *48% ?- • • % Dec Beech Aircraft Corp——1——*-1* Beech Creek RR——_; 50 V Beech-Nut Packing Co—-i——-205 10 > 58%. '58% -• 4534 *16% ~ Nov 27 i00 > -700 1 :32 ' 24% 146„•• 23 Va *34 .V. 105 Beatrice Foods Co—— 90 7,000 93 0 < ?,1 n'Vf 65 --A v 20 Jun 51% May 28* 130 Va Jun - 3 No par k Inc new Cigars -AA 3%% 110 270 102 23% ; 1477 147 0: *44% 46 38 112 - *63% r • 46 23% 46 22% *54 ' 551/2 *112 A 114 A 65 V<. 65 A A '31 J% 31%: 54 : '• 24 191/2* 241/2 .21% • 77 • i 1,900 ; 91% -18%; A 22% *35% 21% 54 ■ 90% 93 92 3/8 ' ,31% } 19% A 21% " 24% 35% 17 ' 24% 18% (V" 38% *15% *35 7 13% ftlar. 49% May - 9 94 May 24 . .. - 300 77 - 37% 28 % 28% *100 > 35% , yC- 451/a17 i -iV. Nov -, 139% V 52% Jan 101 25 Jun '83 24 Nov 26 '•22% Oct HYa% Bavuk 2,100 - » 106 --a: ,36 100 % 100% 58% i9»/4 23% 46 *44% .. 36% ; 371/4 28 Va 28 Ve At iv'.> 147 23% 19% 19 23% ,:'.C 36 "■ •,: 36 7 ; 5a% 108% 108% .32%, 58% A 105 *103% 25% 147 58 J/4 A *58 / » 58%- Dec •31 10 -10 preferred—50 Barnsdall Oil Cq—5 Bath Iron Works Corp—--——I V 1,600 .: *104 32 Va 91% -• . 33 A" 25 ' . 23; A: •:'. A 103 33 a; 33/ 93 19 .76% : 29 % May 28 < " . : 18 18 28% 28% *100 • 147 J/4' 147 J/4 147% 16% . 37% 37 <; 28 % 91% 92 91% 147% "38 Sep 113 ? May 31 425 10 68 ,i——100 • \t 5,200 , . 16%.. 23% *103%- 105 25% "26 J/4 25% 25% 37 • ; ' 18 . 108 11 li% : >'•' *36% 39 *116,;. 126 i ,16%; ,16% ;, "16% 17% .'••■> 22V* 22V* /•> ■ 126 16% 163/4 231/4 103 33 ... 5 125 </•; .17% • 105 *100 ; A- 16%; 28 J% 27% 1 28 :. 37: *116: ?•; 37 *35 *116 24% 37% 37% ' '37% *100 11% 11% A ft: 18% *103 105 *103 .7 Oct Oct Barker Brothers.——_—; . ~200 22.%-. >r \ *58 1,900 *105% , 11% vll% A ' 17% 23% 24% *22 , 109 *105P/4 <•'16% 17% *23% • 108% 10534 11% *16% 61%; *60 * 108% 37 V 100 —50 preferred 1 Aroostook—A—t 4% Bangor & j 3,600 ,; v . 23 18% 18% 22% 105 V- 125 *115 J/2 . • :av 22 C;v 54 , 22% 18% t- *35 123 23% » 11% • 11% 11% *35 i/AliT'ANov-i Jan ' Mar -100 Ohio—-. & VAC Conv 5% preferred-^.V Barber Asphalt Corp 140 i 23% 23 54 1,100 A '*«, •.; ,53% 53 . •54t.'-: -• 23% 18% ? 62 *60 A *53% a 106 *105 *113 7 7- AA 64 - , 25 % 108 Jan 45 -13 Locomotive;Work? t> Baltimore 5,400 A, ,l .i 13 % 13 y8 64 ' 54% i" •'■; 24% 54 *53% V '7 54% , 60% e 108 % 106 .v 60% * : - 109% "A / f 111 ;;;-26%,Dec 31 A conv.preferred——i 100; /Baldwin 7,700 18,000 21% 20% 13%. 64 : 55 23 Dec May 29 45 par $2,25convpreferr^d—-No par 1,600 . 14% 21% 66 A *64 22% 22% *60 *108% A A13% 13% y 18% 18% Nov •:.'• 10% Peo Aug 12 10 ." • 21 .14% 20'/a A 15 --21% A 22% ; 2J%! •'c 13.^ 25% - : 23 a '8 21 1434 55% 54 23% 203/a - 15% 14% A ; : 21% 20% 53 J% *25 ? 58 .12L ;. 1,900 : ; Ja» 148 5 13 '3,600 A? Autocar- -Co——---5c. / Automatic Canteen Co of Amer—5 Aviation Corp of Dei (The) —37 28,000 :c 6% ;'A■; 6% A' 44% v 43% 44% . 27'% M-'M Nov . , 30 1,200 •■ 6% 7,74.6% 6% 44% ; . 108 11 100 i- Oct , ^tlas Tack Corp/^—No par Austin Nichols—•_—1" ,_No par 1,100 A; t'Conv'prior • pfd .t$l,20)A—No par ; Jan 59% y . .7 *29% Dec ,7 78 —„————rNo par Atlas "Powder A 4%; ,• 200 ; 26% '23 ' 24% ' 440 ' NOV t Li.A.v.M r..: •3 15% 65 2,800 V-'A.IO 17% 17 % " 17%- 6% 43.% 65 54% : 55 i?V 10% 10% A:;; 27%: 24%.'. i:A24%. 17% 24% s *25 J/4 : 66 . *53 • 27% / 27 : 7.7:510%; 711% 27% 117 11% .1.0 Novf 46 V2 oep seriostp——-f00 :3.6Q%; "preferred .;!• Atlas .'.Corp.— 7" 60 61% 60% - *64' 440 - J '/""V 23% 233'9 > *115% M7 , . li/ 6% ' ' "8,000 • . 125 " 1 5% non-cum preferred——.—100 Atlantic Refining J_i.——— *25 4% -conv pref series A—100 1 > /Ct iv) Nov 21 Aug 9 .• 32% Jun 14 153 May 21 30 Deo 127% — 500 109 A;% 102% r, 102% 36% May 28 2d Atlantic Coast Line RR—1—No Ati G & W I SS Lines.,—-—— c4 800 lt li < 141 < f 106% Nov Feb 18 112% ' •2,200 36% r ,108 115% *24 y 27 7 A *10% 44% • 7 29 28% . *66 117 : 6% 21% •; "23 < 13% *24 43% 21% *13% 25 24%. * . y.iH 17% 7 7 ">7- 27 17% 27' A; 25 'A y 25 61% •;•' *16% 27% 66 *115 V4 7 . *10% .11% A A •■: 28 W- .*28% • 27 % >7 *24 50% A 3,500 7 May 31 65 11 27 124% Dec - 900 . ': :.A 117 *115% . ! 17% " 27 25 - 27% *16% 24.% r, 62 62 .10% -11% 7- 27%. *26% >. 49 % *50. 37% A A 36% : 37 :,7 36% 111% 111%-.. ,109%. 110 *102% 104 A.. ' 7 103 <; 103 7 23% 23% 24 23% yAA i 61% 761% 62 103% 24 62% 50% 50% 66 < : : r • 5,100 15% •;, 15% 7;,:7 A 15; ,,..15 % AAA 37 103% 103% 106 106 106 15% 281 .7 • 112/ 112 ' 95 106 7 16 7 A Mar A; 42% July ; I per share 4 Apr ib 7% Feb 16 12% Jan 28 740% May 18 ' 147 58 29 Jan 7 22% Feb 16 21% May 29 59% May 21 137 " May 23 39% Dec )£ Sep Jun 17 34 60 30 Feb 4 Jan Deo >/ .1% : ey4 20 > Apr Mar 113% Feb 47 10% Jan 48% 56 i Apr ;?4 Dec 7 9% Nov 32% Nov . 128% Deo Deo 56 Jan 7 20% 7 Deo Jan 72 Ml Jan v21 Dec 52 Mar 56 116% Jan 135 A Oct i Nov 31. 61% Jun 43 Jan 7 52% .25% Dec 12 i:73% Apr 22 . 0 S per share 7 27% A July 30 May 29 Previous Year 1915 ' A;7A!; v: Highest - Lowest .: share 47% Apr 58 , 32 7 Mar 21 7 Jan V-h'.-'A fill $ per share -111 25 Jun Nov A 12 .1; 17 preferred.,.—_-_^_y^_'100 Assoc Investment'- Co—_-7—No par Atch Topeka & Santa -Fe__ 100 5% preferred—100 A T F Inc_ ——10 50Va • Jan 102% Mar July 18 ? 172 18% Dec preferred—^^-v^——100 1st 7% 94 G"/e y 7 130 •-*45% 50% c 128 % 220 96 - 95% ,1,200 139 42% Sep . 102 Corp—_—5 Artloom Corp__—„—,„wM.Q mL Associated Dry Goods new—_——l ,'J. 8,500 50% *45% 110 A • 68 36% ' : 24 ; A 28 *61 68 24 • 63 63 28 37% *102% *102 131 %: 129 ' 125 A Arnold Constable 15 V8 14 7/8 16% CI 7% ft 15% 50 Va, % 111 • 128 50% 95% 15% 50% 29 ' 367/a v 127% *130 *105% 106 15%. 52 A" 110 *126% 95 98 % * 106 15% *60 68% 110 *115% 98% -"♦28% 36 V8 36% 17% i *45% 50% 96% 106 51 50% 27% >130 *45%" 131 *.130 131"-. *18 18% % 15% 17% ; 100 200 • • 6% 18% May 28 9 Sep-11 Oct 10 .10% Sep 112 preferred_/__/Vo pur preferred—100 Armstrong?Cork Co_^..;t-A-—No pur $3.75 preferred—par 2,200 105 , *. ; , • A; ParIllinois—1-5 prior Highest Lowest ■' $ per share $ per share share . '7/.:••'!• 1945. Year ; Highest Lowest pep V 1046 Range for Year '* AA/g v j Co of $6 conv Wo 60 * ' 18% 18% "" •. 128 127% 128 126% 50 '/a 15 % 50% 110 V *18 „/ 53% • *15% 17% 130 106 15% *60 15 17% *45%. 96% * 106 15 15 17% 19% *100 105 *101 18% 16 17 18 *126% 97% , 15% 128 1277/s 106 *18% 161 52% • v > Armour & *\ 500 130 158 % 53% *52% t 105 *101 130 >160 . . .1a Shares 1-li |a# i Range for Previous f, STOCKS wtnewyork stock ;tA:.;VA-/.,;/;</■ EXCHANGE f J00-0% :! 52.800 ; 14%'; 13% >128 53%-'54 15 % 17% 18 % *45% ' 19% 15 15 % 18 54 *18% 19 19 *14% *159 ' the Week ■*: $ per share 14% 14% 130 ? 161 130 160 104 104 *102% 130 160 53% 54 *53% 130 104 *158 - 14%'; l'4% Sales for Friday • Jan. 10 V | per share I per share 160 130 128 % - t -.-.A Jan. 9 y Jan. 8 . - 14% 14% 14% 13% 13% 13% *123 >/ $ per share $ per share I per share Thursday . Jan. 7 Jan. G Jan. 4 J Tuesday Monday Saturday ,/A r:-v7vA V Monday, January 13, 1947 FINANCIAL CHRONICLE -A'v; 7 A- ' ' ; STOCK RECORD NEW YORK ; ; A; A -y- <>00 i /,,/ Ai.V..v - COMMERCIAL & THE >a",1';' -'-.'-v,-!;.v;V:-• A : v ••:? J.;,v ■ Nov i' 49" v 33% Nov Dec THE COMMERCIAL & FINANCIAL CHRONICLE yolume 165 rNnmbef '4559 219 NEW YORK STOCK RECORD LOW AND Saturday •>Jan. 4 ;':v , $ per share W*7 ' 4:. £ Monday A 'fi&i $ ■?'■ v HIGH ■> Tuesday :4; ;4;Jan- 7>>' $ per per share* SAtE PRICES Wednesday Jan-8 . i ; . ' : , STOCKS ; Sales for;r Thursday : Friday ;, Jan. 9 4.,"'.':.v;..ian,-T0 V $ share< per share.v V , ;> $ share per the Week Range for Previous STOCK •/>.t,'.-v Range for Year 1946 ? EXCHANGE Shares share per NEW YOEK . V- Lowest " *35 ,'.v\''r;';7. :'i: 7%" 7>A Lewest $ per share 30 10% Jan . 22 2 55 Jun Highest per share S per share Jan 8 V . , , v - , , . 1, 22 81 Ve May 27 ? 23% Sep 26L< ,109'A Jan 14. 22 19 29 V ; 161%;Jan 3 38'/aJun 23 29 Jan 71 Jun 108 10 '«" 17% Apr ID ;; 20 r 18 % 151 , . ■ Jan 4 V* . ' . ,, . ' Jan 11% Dee . ;T02% July 31' ID ;. 237/a Jan 17 22. 42'/a Feb 18 3 ~ ■ ~ ' . . ? 25% -",25'A •' *110% • 25% 111 ' r? *15% - *110% 16% 25% 26 v.- 110% 111 .//16'A -"'24 24 16 16% 25% • 110% *109%. Ill> • ... "16%; 16%. 16 -. ;.• 25% 25% 3 T .. 16% 16%,; OS OR ^ 53% *6% ? 11 •• • ^P;:,63%^ OR' - «,oa . p:;>24% •; 25. ? »• 'ok < 11% 8'/a 9 8% 7>/8 • • 8% .. 7% 13% 14% ;>r.''9%' 10 Z?Z*3%.Y6% f •>'4: *5% ,v> 6 ^"12^, 12%- • 13%; "9V4 ;;57/a 9% 448%. 4 578 4*5% W35% 35% ■'i 20% .20% 35 . 12% x;;:',36.;>>6%; ;'4' 20 ; ;; >45% 24%: -*34%v:'55% --f 46% 24% *54% '•>•/*> i*%' -i**# / *15% 7%,: "7% 23% 46% 46%:4 48%4-47-rP4; >'45%', 46% 23% 22 %;' .22% 1,400 55% 100 *54%; 55 4" 15 *15% 16% *15% 6% 6% ,46% 444 29% x 25% 108 H ';*r -29Va 29% :4f*107% 110 108 - « 92% ' ' *25% >'25% •Y<"t45Zv*45'Y' :v"- *40 42 89% '/a 4 4'* ; *25% 26 V\ 26 4 45 :-i 32 t45 457/e 31 •: 10% .10% *88',".'':'>92 >•/ 4- '•,45'/a 45%, ? '. .16% 16% :■ ;•*88 ; ■ 10% 4*88 ; ,4 "15% 44; 924; 16% ,*49,4 ". 52 /P16V4 ' ?> ; *49 I*"4 52 ?/ i"j ;■:* 3l%-3l% 4; " 11 -10% , ;/•'• 91 ^ "; ' 10% 92 16% 4 50 4- 504 105 *170 >>*11144 111% *110% 112 / ,-*84 , 10% 20%; 20% 1 - 43 43 ' , *148 155 . iu%; '65%; ! *106% '3C7V2 26' > :•>• *56% 20% 37 597/2 > 36% /. 43% 155 > 37 -4*146 36 36 .43.%',- 44 43'/4 ... . 155 •> Jan, 4 7 > $ pet share >144 *900 : — . *100% T4 42%" 42% ;io3 4 *35'/2. .36. ,, 4" *148. ■'" *900 > 53% 54'/4. it* •100%: 102- • , 44%.. 44 14% 15 »/8 '19% '14% > 14'/a 15% I97/8 13»% 14'A 14% 14:/; 30% 31;; >4 31 31% *30'/aV 31'/a •31 31% "5 14% 30%; 31 • . 11%/ 11% • 11% " ' • 147/2 20 ,4; *36 36 117/a 11% 20% >- *47%, •20»A 20% 20% 80 V2 4 *777/2 •78 .4 8lfe 80 V* 48% 48 48'A 46'/a 46% 48 *148, • ; ; 15% Sep • div 45% T Milling Machine Corp ; Fuel_>— Financial & ♦110% 1117/2 23y* ;/?3% 23% ; 500 ? Cluett Peabody ' Sales for the-Week ; 1017/2 43% - ? 53% 14 • ;! <:• . . v . * • -14% 14»/2 :: .: ::031% , ' 40 : 28% 35% 6'A >4v 32%?:; *48% 08% •> 27 3/8 27% 28% 5% 54 16'/z 16% 16% *53 : .16 /; 27% 18 ' ' 27% 28% 30 2? 18'/2 -41$% ./•? 112 7/4 1121/4 45% '.•457/4 18'/a „ *112'% "112% 45 45 38'A Jan 29 24% Oct 83 Deo 82%' Jan 28 Nov Jan 17 60% Oct 25% Jan 74 43% 49% Jun 16 54 Jan 66 Deo 19 7A Jan 37% Jan 59% Oct Dec 31 67% Jan 17 54 Jan. 64 Deo Dfec 3i 25y* Jan 2 27 Deo Oct .4 36 11 21% Sep Dec Nov > 207/a 1121/4 48 *.700;. >1: , 53 • 2,600 2 28%- 18 14 54 28 *28'A ,114 Feb 38'A July 23 48 Nov 91% Jan 581/4 Apr 42% Jan 20% Jan 9 May 10 108'A Mar 1 Deo 68 Aug 80 Dec : 5 7 98 38'A May 11 ' 71% Jan 18 ? 140y* ": 44'A May 23 ? 49 Jkn 170 Feb 89 Jan Jan 9% 105 Nov 72% / Jun 25 Jan Deo ■ 103 109 Jan 52 Sep 10 Jun 23 997/a Jan 19 6 24% Sep 8' 10 ' Jan May 115 ? Oct 68% i 93% Jan Nov 110'A 106% Nov Apr Apr 18 100 Jun 9 53% Jan 59 NOV 4 34 V* Jan 41% 36'A May 21 Jun 7 35% Jan 53% July 44'A Feb 1 ? ?60% 2 152% Jan 44 Deo 105 V 109% Jan -62 s. 22 205 106 ; • 23 39'A Nov ... No par Jan •77 -May 20 108% Mar 5 • 3 507/4 Feb 19% Dec ■/ ,'^————100' 108 113'A Jan 18 106 - Feb 27 ? .2 Sep • 205? 12 165 140 May 31 Apr v Sep Oct 150 Deo Range for Previous • • - Co cfhe)i^— A— . Oct 9 ? Dec 3 ■>; 42'A Feb 26 61% - X99 cum conv; , 287/4 16% 16 Va 287/2- - 18'% 27% $4.25' -, 20 10'A Oct 10 30 23% Jan 1127/4 111% 45% 44'/4 44 3A 44% 45 • ? . ; ; ,, 28% 27% w Commercial . w_ Solvents No par % Consol Coppermines Corp • N Y 700 Consol 150 19 1 > 44% 7.000 44 Nov 5Va Oct 5 24% Oct No par Dee 106 Deo Retail Stores Inc 14 18 Jan 28 14 • 28 y* ?;■. Jun 50% Nov Jan 28 31 Mar Nov 11% Deo 41% Oct 26 Deo 28 Deo 39 110 Jan : 53% Sep Deo 15 y* 31 116% Deo Aug '257/a Dec H Jan 4y* 89 Jan 124% Dec 28% Jan 34 y* Nov 18'A Sep 6 40% May 13 • 26% Mar ? 89% 557/2 May 13 29% Feb 1 36 Vs Jun 17 /10% Feb Jan 50 3% Mar 6 Feb 24% 6 28 36 106 Oct Nov 7y* Dec 34 y* Jan Sep Nov Nov 109 y* May 25% July 12 23% Apr 20 60 > May 27 11% July 22 Deo 31% Jan 45% Deo 33% Jan 17 17% Jan 35% Dec Jan 8 45 Deo 147 ?' 32 11 35'A Sep 50 Jan 0 109% Jan 23 Dec ; Nov 4% July 15 5% Jan 132 . 16'A Sep- 24 Nov Jan 36 Jan -24 32 % May 13 18 17 Jun 46% Mar 59% Jun 29 xlll 46% 25% 31 123 14% Nov 22 / Jan 14 29 • 1 Deo 5~oy* Jun Jan ■. 9 pfd No par Container Corp of America— .20 >18% > 48 10 " 13% Nov Deo Jan 47 22 42 Va Jan •'• Nov 50% Jan <14 105'A Sep 4 17'A Sep ; 10 Consumers Pow $4.50 7/2 49 Oct 47 >1031/2 Dec <14 Grocers 18% >7? Feb 38 36% Oct 30 . 1— No par Corp 1.33% 1,2000/Consol ; Laundries Corp. 5 1,300i, Coiisolidated Natural Gas_——: 15 6,600 • Consolidated Vultee Aircraft: ;_i 5,100 Consol RR of Cuba 6% pfd—100 Consolidated 111% . 31% 34% Jan Apr 22 20 Dec 30/ 36% May 21 78% Dec ;20 106 »A Apr 1050 V* Aug 12 .36% Oct 10? No par 18% ■"',. Nov 101% 10 Jan 39 32 7/4 Nov 22 No par 111% v 112 14'A ' I'SS.?.,: 1& - 4,500 ; ' ; 15% . 187/a 111% ? Oct 72 29 247/a Feb 41 ■ : •1137/8 Nov-19 par™ com pfd cum 19,700 ' Consol Edison of 700 ,0? $5 preferred •?;?;. 20'/* ; . 183 Deo 60% July 11 - 1067/8 ,20' $ per share May 59% Aug 20 63% Jun 5 .98,600 > Commonwealth* &.Sqpibe»ri/_No paf 2% Jan > 2 2,200 $6 preferred .series —: No par. ?lll Sep-10 ; '8,500 Commonwealth' Edison. Cq—_25 29'A Sep 4 900 Gonde Nast Pub Inc new——No par W^ 12%Nov?22"5 3,000 : Congqieum-Nairn inc_—«>—.No par 24 Ye Nov 22 .*..... — Consolidated Cigar—.: Oct 9 .r—Nd par ; >33 28% ' 106 7/8 ;? 53 • ■; 28% 18% : ? 130 110 6 Oct 30 15% Oct par * preferred^. Dec >'? 37 Commercial Credit—I————1.10 ~ $3.60; preferred——1100 . 16,100 3,800 11 69 7% May 20 . V; 6%; 13% 541/4 -547/4" > 34 63'a ;Feb Highest i per share $ per share 200 Z Year 1945 Lowest Highest r.$ per share 130' —No par: «-No par ; / ; ; I Range for Year 1946 ;;?! Lowest-' . 28 7/4 27'/a' *337/2 ' • 112% 45 Dlo 9 " 30 22 Deo 15 1 10 * 1 13%; ' , r '-67/2 ; . 321/2 ^ *13V4 357/2;; ' -6%- 28% 28% '107"" 1071/4; :• : ---191/a 19%; • "161/4 1*17%: - 287/4 14 15% 32 . 13i/a .' *341/2 > 23% 7 . 3% ■; 37/3' 121'A 121 ya ^ 1217% •32% 1/ I071/4 '53 8 23 x23 4% Jan 29% Jan 20 36'/a Oct <178% Sep Columbus & Southern Ohio Elec—10 5^000 ,230 . 112% 1 227/a % V 137/2 287/a / *13% May Jan 30'A Dec Dee 16 ;Jan 8 27% Sep 50 Columbia Carbon, Co——_—._No 100 V 46'A . 4,400 •* (/Columbia Pictures 48'A 451/2 24'A > 1217/2 1: , 019% >197/4 29% . 13% 281/4 "Jan 141' ? ,t ; - 81,100 ' 20% 112 «/2 •X32% / '33 m 35 16% Jan 25 Va July 11 -15 61/4, Dec -31 - :>p; 4001 36 Va *79 Y .817A 46'A 23% ;-3%- >• a'/a : .1077/4 147/4 54 ■"■•/;•; 16% 5 . y 1- 63/a ■') 6%-'-- >«: 34% Jun 19 ? ' 4% non-cum 1st preferred—100 13 Sep 19 • - 4 % non-cum 2nd preferred 100 ,i 121/4 Oct 3Q Columbia Br'd Sya Inc cl A——2.50, ? 28 Oct 30. ' ? ciass-. .b l _:2.5o .> 277/2 Nov 26 Columbia Gas 65 ElecI——JN0 pat 8'A Sep -24 180 2,800 '. „ 321/2 . 36 *112% - 123 VB • *341/2 • 28% • 14 14'/4 54% 46 '/2 23% 261/4 > > 6% * 14% 54% Z? 18% 29 35 6'/2 28% 114<- 32% 1077/2 167%; ; *107 107%; 2QH: I 4 •' 191/8 ■ 19% 19.7/8}' ; /, 14% '' 13% 4 *34 67/8 , 46% Y 1211/4 l4'/a Jan 49 v —50 Colo Fuel & Iron Corp—No • 350 • li'/Y 11% : " 48% 1237/4 327/8 Jun 5% Jan 24 11 V 21' Aikman————r-Nopaf - ^3T';;i : 1 20% 20% ' 28% 357/2/ 6% 108 *16% 28 y8 ;■;/ *35 > >19% i. 30 19 No par No par 210 /Colorado & Southern.:-—00 ;;"•' 32% 32 ' ■' 13% 16 59% Jan 108 $3.50 preferredi—«—No par Collins &. ' 2,400 ^ 131/4 '13 V4 .317/2 11% -12*36 81'A 32% , 25 15% July 10 11'A July 8 -'2 Par •0. 11,300 ? ; *78 : V* Jan 17 ? 1,600 ..t 131/2' 13% 14'%:.. 32% ,.32V4" ; 82- 3% 12% 14% July 11 33% Feb 19 Sep EXCHANGE Class . — • • • I 197/2? 19% ;;,;i3%; 13% *13'/2 1/141/2-, 21 • Jun Dec ' Coca-Cola International Corp No pat 5,400 t.;, Colg&te-PalmoliverPeet ;i_r_No-par 101% '"•143. •:•;" 437/a >14% 1>*13% ' 11% *237/2 12% 6 • Co_-_10> • 260 __ lOl'/a 1 ; , 1,400;: CocftrColg „ 52 Vs 19% 361/2 *112% 247% 123 32% 141/a 28%. 28% 10 28 Dec, 10 :i 751/4 Oct .^.5 NEW YORK STOCK ; Shares *63'/265 ,48%. 112 , 237/2 1223i 32'/a ;;ZZ 6% S7% v. 312 , Oct Jun 37% Jan li No par 1 & .Co— ; Preferred '; * Friday: *900 14% 31'/* 3% 122'/a 0 *34% / *107 ; .4/ 14% ' W *54 ': 37% 33 ; 32% Z?, 14% >19 *14 - 23% ; 23%:. . 4, 123 >10230 1117/2 HI »/2 58% 26 767/B Feb > 8.50 Clev-Be Pitts RR Co 70 gtd Special gtd 4 % stock—'. Climax Molybdenum Clinton Industries Inc 1,500 148 > 148% 53% 43 14% '46% 26'A Jan 10 ■> 23 Nov 22 14.14- LOuis.Ry CO^——ilOff > ;? f *78 - 22 15% Jan 6% Mar 17? 55 -55 ——>__2D- ? 155 ? 46% 14% Jan 47% Mar Nov, 34'A Sep 24 • No-par^ ; 067/8. Jun 18 Va Jan :V;/:l 45% 11*2 45 45 . —No par * x Oct 17; ->.;■ ;6% ; preferred——u__:——100: Clev El Ilium $4.50 pfd_ z—Nopar. 300 >:,Clev GraRh Bronze Co (The)— i__l 10 <• >: 5%' preferred.—_*10q: 9,100 ' *1007/2 14 20% 30% Oct ; 100 ' C; C- C Ss St ► 5 _>_ t per share - :14'% 36 80 48% < ^ 35'% " 65 " 31% : ? ; ,'80 -43% -r ; 146 *13%- 31% 31% 11% 11% 36" ,44 37:,; ; C'I " 36% 21'/a . 100 ' ' *35'% 4; Y.V . -■ Oct 9 ' Jan. 10 'v19%' *137/4 ; . Apr : • 180 > ? 357/2 : ; > 19% 14 *131/4 ; 14. Dec 108% 25'A, May 20 , >>66.,1iY:86i;> ,, -M4- 14% *14 17 Sep 24 109/ h Preferred Cincinnati \ ; 900 1117/a'112 , Jan. 9 ' ■ 42% 14% 19% <•••• Jan 32 9% Oct ^ 9 CityInvesting Co. 5; .•,••?'57%%'' pref09 > 88% Dec 28 ,? 3-.400 -: City. .StQres__-1v-^£---^----.----5:.; V15 'A Nov 22 ' 800 ' Clark Equipment—_i—^_1_No pat • > 44%: Sep 40 -51 ' •: *95 •■• < per Share ? ,10t'/2 101Vi 42'/a 14% 7. par, Li.—, w STOCKS - " 147/2 *17(f ; • Thursday /' - 19% 147/a 19'% 50 . :i55>;:;.'.' 149 147% >l47%" > 65 • r65 65 "/Pr *900 *900 U'" " 53% 54."- /44 14% V . 31 • • 64 v . . 8,000 U5%015% • Deo 16% 33 1 } per share . K 146'% 64 44' 4; *14% ' 14% 4: 14 4' >14% , 102. per shbre 146% 1 PRICES -Jan. 8.. ■W:;l__No Clnn Gas & Elee common_>l : 1,100 >. .437/4 - 437/4:.; 43% Wednesday , ,4 .'■ V <13% -"14 7/4 5; 30% h t . ... .. 44">- ..;• 147/a . 347/8 19%; 19% ; ;146 63;'/2 ' 64 7/4 ♦900 4> m 54 ;VY 55'% 65%; 55%; 'lOO1/? 102 ,4 # per share *144 144 444 63% v *62% Tuesday Jan. 7 " ■ , 26 -VP- &ALE LOW AND HIGH 4/v, Monday r ;."4 Jan. 6 4/ Saturday 4 • 50% Jan 21% Mar . ' :; 180 y ■f;'Ji.''■■•i,*k 1.?'• >• ;-v 100 . 5,800 . 43V4 155 i- . . 100 •.*87 ;:Tll4>lll%'"/:: ' '*148 » 1 A—25 -' > >106 »/2 106 7/2 >*101% 102/> *101% 102 V *56%'? 59%: --*56%; 597/2; • 20% 20 »/s 20% 20%. 20% Cl Chlcagd-Yellow <Oab__i—j->No par Chickasha .Cotton 10, >. ; 102' 20% ■ ' 10% 92 i 566%/ 66% *106'A 1077% - *58%-59%£ Co Pneuihat^Tool-i—2xNopark -—JNopar)* g 2,500 % City' Ice; *170- *106% 107 7/2 21% Ry $3 cony preferred Pr; pf ($2.50) .cum 31% >*95- 111% *1007/a , Jan 7 • 15 1114 7'/eNov 21 ;? 5'% Oct 10 11 Vi Oct 10 • L50 . i —50 preferred preferred /.Chicago I?™? Co ; :. 1,100 4 tdhllds bo—— • 10 ?, Child Copper Cb— 16,600 ?: Chrysler Corp_!___ XX,' .» 9% Oct ; L_l./ RR Chicago .& Northwest'n 46% " 67 Louis A 45 v4 4/il5%Yl5%P: ;P56'4';;52'-c4/ 105 *65% v" 16% 110 ' 4:25% ' 46 Va •88 180 *111, •lOO'/e 102'A 21% , >: *111 59 % ♦56% >214;4.37;.',' * 4/>''43W ? 4,4*148 r ; ,37%. ; *37 " < *17^ 105 Series •' 100, . -40 Corp. (The) '<31% 4 31% .-•10%-- 10%.>. >; ,>.10% 92 *95 180 >• 65% ;:.v*65;: - 66 % *106% 107% *1007/a 102 %. 1 ,7" 66 *106%; 107% *iooy« 102% >*56%"'59% : *170 ,5 *95 44 • 454'29%-■:! 29% y,;.■#,.£ ,4. v 18044 ":'-*95'.";- ■105 "15 Va ? t Mar 33 31 257/4 Oct 30 10 • 25% .i$y« v.i5%- f.r 180 *95 . 10 4i47/a415% '31% ■r. '*50Vi'51%4- : *54% "4 58 % >29% -457/8 r 31% 10% *88 . , .*54 Va". *107V4 110'>4 v.no7% 46 44 :; 31 v 16% MO'/a' 4-4 29 M *170 :■ 42 ,29 *25% 4 25% '- ■ ' ;6% Y l".;:- :.6% ;' .6% 42>:4J4 40'/a •" 40Va 91%"' 4'. .88 Va 9i 6% " ?.,;-;::.3I\z* 31,p 6,300 . *107% ilO >4 •> 20% Va'"V:,;V 15%">.; *15%' -',91 r>- •29% ?. 54 •14% 6% 897/4 . 8,200 23% ■54% -16% *40Va 92% 4 35%' 5.54%'-P". 54% 15 >>' > 12% 34'/b .19% 7 48% Oct 10 4% Oct 10 . —____.No par, 1 3% Oct Chic Milw St PPP vtc£-_____No par;. ll'A Sep 12 ' vi;; 4 20% <"r _ No par — ' 4 43" ^Jan 17% Mar 12 • Class 3,400 15% ? -.10,000 ' 12% 35% ^ Chic: lnd & 1 200 20 55% >> f: .4,800 57/8 20%- 12% 434% • 1.25 Co— A . 4 8 7/s :* &' East 111 RR Class: vChicago 19% ;*14% k' 6%; 8Va — 4,;' 8% 5%>4; -4. *3% 1 700 Chicago Great-West £ 1,600; >: 5%-. preferred;., 14% 12% •- 23%: > 55%:.v. 29-; *108 >110.Z 1 Chic 1 7,500 c: -7% . 35% *54%; 90 • ,7 J 9,500 . , Mfgl-!—1 Chesapeake Corp. of Va— —5; • ^Chesapeake & Ohio Ry_lLi>„.--£25/:? 12% 24% 424/ 29% . 8% •■:7r 7% 5% 105 Sep 12% Oct Cab 20% Jun ♦0 NOV - 400 4* ' m 8% • 55% *40 8 7/a ; 6 - *54%-' 16% •r4'V6%k /„,Y90.%.?:<9lZ4' ; *23 V2 34% • "20Va 46V8 , 8% 14 9%:" - vv 6%v 42.PI 1?? 29% ^ .V *7% 13%; 13% 74 *54" 55% *54%.' 55y« "•'*14% 15 >7 - 12% -36% , 19% %r 47 ,r »• " 20'/2 - 46% ./■Z*24?Y/25l;Z i ,'. 6% .?Y *40 r preferred————No par $4.50 Checker 1,600 , /• *24%'- 25 t ' ••>*54%-' 55% - - 21% Nov 50 • ■, f. *.Y 1,700; •?Y? 9 9% Z 9 \ 9%-: #v' *7%' ' 8% •4::'4,7%'-:.;.7%, Z/*14%^;15?& 14% 14% 45% • 54 %} z?Z;'6%z/6%? 44 *11 % 11% 6% . •• 1/. ' > Champion Pap & Fib Co new No par 16%, YYY; 800 ■I'v.''V1" '/ **83% 4,700 r • 4 111 *110 . 16% ^ 25% 25 Feb 25 ' 13 < • 25% .'.'25% v: -v *109%, 111 Nov 24 May 9 >51'A Jan 18 257/8 July 1 24 . , 13% 115% _ ~ « , 11% Nov 109% Jan /.!*' Y ■' 10% Apr 30 • Dec 21'/. Sep 31 Ye Dec * 22 g««s - 25% 1 20% Apr 137/4 Jan 24 116 Jan 29 9 >17% Aug, Aug 26 108% Jan 26% Apr 8 7/4 115% Mar 15 547/2 Apr 18 Jan 115 40% Feb Nov ' ; 1.8 18 : 18% *102% •;108.>;:x 10 10 : , *5Q% > 51% 'R 10% 10% 40 > •i;i-.*i4 a . ;.v, 29% 293/a «' *l02 %: 1037/41' *187 > ■ : 38% 737/8 189 .. •: 29 40% For 50 ;. : ; is '/4 54 % 107 v.; ' 10 107 m 9% :50%r 10% l10% :•"> 38% .39'/* 16% f : ' ' •-••■ 9% 97/a ' 97/a 60'/a 50'A laVz C 18% 118% -4597/2 •187 4% ! *187 *104 29 40'/a *47'/2 4% 73% i87 - • 39% 40 , ♦104'/4 105 t V 291% 40% •75% S 190 >7% ;■ 77/a' "4- 4'/4 4'A 105 tv. 50/ 103'% '• 7'/a 29% t 297/4 "f".: 1031/4 73% 189 % 30 -187/a 1'19%? 69 '/a- t 59'A 61 297% *103 f 75' 383/4 / 397/8; * 18%; •-: , 16% lO'/a ? > 16'A 16%; 16 »/2 >17%; '? 49 497/4 14%-i: 15v ; 54% 54% 15 >• *54 - • , 29% " 29 ~ ? 59 59%., - 29 7A, 747/2 104 74 188 -: 7 •: ' 7% /•"'•• > 4'A •397/4 *104'A 29% 41 417%, •39'A 477/a 47 Va 47% :• 7% m 4'/* % 39% 105. c 29%" 39'A' 48 55 .'1 >, 900 / i /' 2,900 19%,- - ?. v' - *103 ; 28'A 72'A ••.'74 *l87'/4 40 -i 10^ 30 -; 29% 40 *# ■7HVU. >f> 4J/2 " ;• 41 % 49 7%: 4Va 38%. *103 r. • Insu^jgce i Continental Steel Corp CoOpeV-Bessemer Corp^«« $3 prior preferred Copperwtkl Steel Co____ ConV pref 5% series— . : ? Oct - 15 1—14 No par ?: 131/4 • —5 Nov : . 29 y# . , 39% 48 : 100% July 10% Apr 22 Jan 18 46 Jan 29 8% Jan 26% July 49% May 23 X23 % May 29 . ? 30% Feb 19 > 237/a Feb 16 • 56 Apr 189 . . . YI2%Nov 3a 970 <• Com. Exch Bftnk Trust Co_„—20 ;■.! 52 Sep 11 ; 3,600" Coming Glass,-Wbrks commoniii-5 ,7; 25% Oct 30 50/ ■;' •; 3'A % preferred—__i uaWfG / 101% Dec 20 ., ? r • - i 4 Va 397/a 105 t 1 t 1,200 v > •; 600 Products Refining.. ; 3%^ preferred. Cream' of Wheat Corp1 Crown Cork . & $2 preferred Seal 58'A May .: *..100 ; —_25 7'A Nov >4% Oct 67 % Jan • 100 " 31 101 (The) ^*.—2 28 —No par A— Na pat "32 47 8 Oct 30 Nov 26 Sep ip Oct 10 De<i 36 , , 75% Dec 28 .2101/4 Mar 30 14% Apr 10 7% Jan 29 49% Jun 17 ll07/2 Aug |8 35% Jan 14 62 Jan 14 54ya Feb 6 17% Deo 109 'A Deo 50 113 17% 59 % Sep Deo Dec Oct 20 Deo 43; Nov 28 V* Deo Feb 55% Nov 19% Deo 53% Jun 18% Aug 52% Mar 26% Deo 30 2l-- 39%"MayJ?9 109% Aug 14 ' 10 -1—il^25 — . 23 • : ; - ^1857% Dec 31 ——i preferred coty inc Coty Internat Corp.. Crane Co common.^ ft - 3,500: • ? - 5.7001 '. '- 80Q ; 40'A. 48 130/' 2,50a : : ( ,297A Corn 4,500. v 7%, 1 ? 12% Jan 49% Jan 10 60 Jan ,47% 38% - 24 27% Jan • Oct 31 Jan 10 1 Jan 19 12% Oct 30 50 —50-; 10 24 Nov 22 461/* Dec 03% July Jan 37»A -63 10 i? 337/8 Oct 30 NO par ? July 18 ?o: 537/a Jun 1137/a Mar 29 8 18% Feb : '8% Nov 21 10 5 22 109 Va Jan 46'/e NOV 27 1 L Del. 1 ; . 10 Motors.' Oil Df ? ,—5 8,400tii CorBell-Dublle? Electric Corp.* 59%f 104 •/"; 104 74'A i-*4Va 59% '30 9(T ,. • r" •-• ' Continental 400< , /• > Continental Continental . 4,900? r . • 16,200' : > 331/2 Sep 19 103% Nov 26 ;v 1 " :• 287/a 'i lfio; a'A 7%! 188 ' v> I 12% Feb 28 1101 Sep 23 » >•»■; ;> 18% >? 58'% > 29% *103'A IO37/2' r 19%; 19% ;■ ,2,600?,;; • 10%: 39 >.. Continental Diamond Fibre 2,600 50 ; 38%, ;16% ; *49% ?50< "? "' lO'A k >149% 10% ' j '''iO'/a 116'A 16'/a/:. 16 »A: *16% U71/* *49'/* - 50 '14'A 114 Va 54 > 54* '' 38% ?-•: 38%-, 39% .> . , I71/2f 4,500 'Continental Baking Co—T—_N6par /-•' 108 ,' , $5.50' preferred-^ No par 40V4..- I'. v; 14,200 Continental Can Inc— J—20 *106'/2,. 107.%; 1/4000-. > $3.75 ■ preferred^-—— No par 16 V* *104 :■> 40'/a' ' ♦ioeMiiotvi,; . ' 9%: 39% 50'/a • 40 • ; 10% >10% ; 397/2 ;; 16% ••17%, 1^' ' Y>; *104 ;;108 - 391/2 > 50% 4/ 54/;,. 54 /. 60% 29'/2 30Va *1037/2 103'/4 .>60 7% 43/a 29 ti > 387<a 40% *47% #54 73'/2 73/4 *103%; 105 9% 50% 18 108 38% ;•■ 2; 18% > •Y 4%- y • 108 i7% *104 •" ' 59% 4 "Z, 7% 108 % 18% 1Q8 291/a: is 187/4, 4 17% 17% 5 50 -v 50;;.; :•■> *49. *497/4 >.» >14% 1141/2. • 44 147/4 -14% • *18 "• 73% 40% *16% ■n iv59.;„v > 38 »/2 /"/ 10% \ ' v ; 39% 14% 55 -u-; *54 108 *103% 50%; 107/8' " is 4 50 HV2 108; 38% ; lO'/a ,10 16% '• 4 - :vV.--,50% 40 '>>"*16%. >•*17% *_ '•> 38 ir-A107">; ; *49 >' : 18% *1037/8 , UP 37% ; 38%; •107 108'/a 1 Jun 64% 101% Aug 58% Jan 108 182% 71 Oct Oct Deo Oct Jan 169 Dec 6 Jan IS Deo 7% ' Jan *>% Dec 25% Jan 43%, Dee 99% Aug 108% Dee Jan 24 37 . Jan 49% Nov 84% Dec 59% Deo 63 Deo footnotes see page. 227. v Nov • • Dee 110 July 10 9 Dee 127 Jan 14% Jan 3 •f Deb 48% 175 47% Jan 3 19 10 l04% May • . ' 5% Jan 35% Jan 152 Jan ,. 131 183 ■ - $ • 36% . Highest Pur;.?:per share ■;,■■- - l\ ;• 7"v-":; *6% 7%-, •" *6% >; 7%4'r Carriers & General Corp__fc>»—,__1 ' 6%67/8 f4 \ 900 g3/8 Oct 36%; ■ 37;-r >P>36 ,>■•> 36 Case (J IKCtx jw 36:* '-'36/r'- .fJ-'-: 35% >// 36% -37% —*25 1 >8l% Nov 36 >v ■•f >""2,100 '' *158% 160 > l 158, 4158% v.*156 V158. -.f U;/l55*:: 158 *158% 160%Preferred ——100 > >155' 158 t.5- 70 > -153 Nov 59 ;0?*59.%.>6o%/ 60% >\4;' .4 60%' 61% 4j;t;;p59%-.N60%!'V.'t^-, 59 60%:'>>;58 59. -4,200 ,-Caterpiilaf Tractor.--^——No pat 54 'A Nov //>. 20% 21 /'Zs?21-,>, 21% ; 20%f 21 % • Celanfese Corp of, Alher hen-No par ; , 18% Nov i '; 14,300 ;420% >21 '?20%r>20%'4;;-.",'419%.,4.20.% ? *1067/8 108 •> :-YlO0M|Z 4 *107 > 108% ;v V> 107; ' 108 -4 ; > 107,% '.107%^>\ * 106% 108% 300 )4.75 l'&t preferred-^.i4_-».*-No pat 104'A Sep ,ni *143 145/Y >% 144% 144% ••• '4, -143Viil44s •;.144 '■ .4144K44 144 Va 146\ ->P%Vl44,:>;i45;, "iso ?%.-2nd preferFed0-.;>——-100 ' 138 Oct 30% if 30% v ? 30'/a 31 % 29% ' 31 -: X28% 29% ' - 29% , 29% ; • I-/ 6,300 •; v Celotex Dorp--—par .. 22'/a Jan 28% 29% 21 *20% •*20% 21. ; 20'/a " 20% » xW,~ ?nl*> * 20% 20% \ ' ?20% 21j >4 ' 300 ''%*'.. 5%>-preferred_/-i--1-?-'<-?;-' -30; ,*• 20 Sep *>'■ "'Hl 21'••'? 21% '^21.%*' 21%; > x '3,000 ' ; Central Aguirre Assoc—.^+-No pat V 20 /Sep ? 13 ■% 13% .; •V12%:i3% Central. Foundry1 ( i 1 5,200; -8% Oct z/Yi0%' ;-ioy<, '•-"'10%; 10% Centrali Hudson G A E' Corp.No pat ? ■ -' 9 1,200 Sep *113 - ii4v *113 fc 114 r f'."W 10 .' > Central.Ill Lt 4'%%- preferred_.100110% Jun : *90 / £.:>;*89%'-j.:91;&3$#0 .*90 92 •. 492 91%; 91% :. V ,y91 44 92 ,92 r- , ,( '' 200 >; Ceht NY Pr Corp pfd^ 3t40% serHOO I. '89 Dec .-. *9% > ' *9% ,.; 9% 9%'; / 9%' 9% 9 ' 9-; *8%. > 9% 87/8. " ICent RR of New Jefsey__: r ,; . 500 100 " 8% Sep ,. 8% *29% - 3rr:'' **j?' 30% V 30% t 31 31 f *30 >v ; 31 3i :->"3L =:•>•: *29%: •3h:V: ( 4 444/ 400 Central Violeta Sugar Col-—. ?> ; 26'/a Nov 13% 13% 13 ' 13 *13% 14 'V *13% 13 % j" *12% *12% 13Va Y ..S" 300 13% ' Century Ribbon Mills___„».—No pat 11 Dec 34 34% "34% 34% : '•'"33%4 34% :;: v" 23% 33% > 33% : •;* 2,3.00 Cert'd de Pasco Copper—-^No par 33% ; 33'% ' 33% 31% Sep 20% 21 - 19% ; 20%; 20% 19 Va1 19.% :[" v - 9,400 207/8,-, C, 19% 19% 203/a 20V4 Certain-teed Products ^^114% Jan 4 i28 >' •>:; 28%- ,28 Va 27Va 28 "/■ 28'/a ;*26% «27% ' >27% • 28% *27 :)./ 28 v;:' 500 Chain Belt Co—J-1,—11—No par * " 23 'A Nov A-: Year 1945 ' r;.i..' - iiai mmmk Monday, January 13, 1947 220 —— i, —<r" .w ' - u- STOCK RECORD NEW YORK > j-< "Jan.4 Monday ?■•/ Saturday ; $ per share 32 Va 107% 107% 32% 32% 32 % 107% 128 "122'/a : *20% 128 31% 91 91%, ' 34% 33 33 21% y. 20% ; 44% 99% 99% is y4 *17% 18% 44 10% 10% :"69 70 Y 28% *27% 26% s 27% *92 Y 93- '93 19% 17% ' 17% ;" 17% ' 113 *111% 113 20 35%; 34% 35 ••;>' 34% 113 20 19 :'18% 35% 35% 20% 20% 18% * *35% Y 35% " 38 - Y 38 y8 38% 36 i '■f IVa 7% >Y 7»/e 7% 25% 25% 25% 25% " >58 *21 ,22% 31 31% : 31% 52 ' *174 *iii%v 112% *111 21% 21% 21 *94% Yv; 94% v 97 *16% •: 17% *29% Y 30% 185% *17 185% , *126 ■ ' 17% 74 ' 112;;? Y :2o% 943/4 943/4 - Y- 21 18 *17 V! *17 - 188 V* 126% 126 *113% 115 115 16% 17 -188% 17 <ti 115 *17 17 YY share / Tuesday }':■ Monday r / r.jan. 6 Y: /Saturday $ per v $ per ;'YYV- , Thursday Wednesday / , share YYY - . ;Y: 226 *192 I 195 - 225% %-y 225 'Y>Yl95 Y..513/4.. 52% Y 23%^ 23% 105 105/ 26% 195 ; . 513/4 Y 23% 110 • T- 110 .;- *108% ,S8%U59% i:Zl 59,-,, * 3% Y'Y:•■ " : 105 /. 110 >143:; *48 25% Deo 9 ,''33 Y Aug Raynolds class A_. & Distil -.5% Dixie ; 2 Dr. 48% Sep 29% Feb common. -No par 26 192 preferred 500 v 33/4 % • conv (EI) 157% 13% Sep Dee Deo Jan 192% 13% U '•12% /13'YY 18% 19 18% 18%: >72# - 106% 105 109% *109% 109% 109% .110, .-3% 11% y ;. 94 *89%; *11% 11% Y 11% 21% 21% 22 24% 253/a / >, 25 , ;. ,>7% Y 8 41 *7% ; 8Va ? 27% 8% 8% i: 24% Y *107 24%: 24 24 107 105% 1 26% 26% 26 543/4. t ','*54 58. 543% 57% 57% 11% 11% 543/4 543A; 94 > *92 --a ; 18'% 60 60 :y? :r>' 35% 20% 243/a 25% 25% 41% 41% 42 (i ? 8% 24% 24 ¥■ *107 108: v >41% >;? 43% *27 27% 8%: Y 107 , ? 24 107 241/4 24% 261% 553/4 58% 106% Y f 106 106 V 60 60 . 15% 13%. , 193/a 18% 19% 35% 36 35% *106% 1073/a *106 5/a ; 41% r ; 15% 13% 133/4 16% 13% 92% * 26% 207/a 94 56% 39% ■171/a 173/a 22 15%: 92% 92 ?-*25% 26 . *26 263% *25% 26% Mar May 21 Range for Previous Year 1945 Y •V *26 25% 26% 253/4 Fox footnotes see page 227, - *38% 40 21 I per share $5 Y 66 • 60% Oct 7,006 preferred 49 Jan Y 00% Oct Y 10A Sep l09%Den 106 : Aug : II4: Y 7% Jan 24, ; 4% Aug "~7%~Dec 29% May 28 3%. Jan 167 2% Jun V Deo 55% NOV 34% Mar 48% 3 21% Aug 29% Jan 20 Mi Mar Oct Oct 106% Jan Mar 8 93 95 : Jan Jan 22% Jan 10 10 333/4 Apr 21% Nov 23 58 3A Apr 63% Jan ; 11% Jun ? 3 Sep Deo Deo July 106 July 108 July 109 . May 4% Nov Jan 20% Jun ti88 Deo 12% 68% Jan 86 ? Deo 37 Jan 1 5% Jan 30 28 17 29 14 16 26 15 Jan 101 - eT 107% >100% Sep 6 23% Jan Mar 100% Oct ? 27% Deo v Sep 16 v 15 111% Mar 110 10 : 84% Oct 30 1 Oct 10 *82 103 " • 15 v4 Oct ? Jan 24 41% Apr 9 Oct 30 10 '£ 18 Y 17 102% May 28 9% Oct 10 48 I' 43% Aug 28 90 Eureka Williams Corp 140 43% Mar 29 9 5 Deo July 10 Jan 111 5 Deo 158 103 21% Oct 12 19% Jan 61% Jun 25 Sep 20 i'4- - Y 109 56% Jun 3 102 ——. ? ? 2 180% May 10 Oct Deo Deo 24% Deo . 21 v 71. Jan »30% Feb Oct *13 14 ?v Sep Deo 112 >8% May Jan 16 100% Sep Y 25 42% ' Nov 22 'T04% Dec Feb 5/Y 35% Apr 5 vti 48 3/4 Jan 24 Y 9 ; 63 . 2? 23 16'A Jan 28; t. 3% Dec 30 :■■} 13% oct 10 138 Sep 24 128 Sep 20 Y 40 Oct 8 44% Sep 20 5% pref series A_. Erie & Pitts RR Co , : 80% Feb 104 tEquitable Office Bldg. Erie RR common 8,000 / 2 Feb Aug 27% Dec ? 123/4 Dec 13 17% Dec Deo Jon Jan 10 > 34% Oct 35% Nov 220 200 115 112 Oct 24 ;5 17% Oct 9 > 106% NOV 21 17 preferred preferred tltb'Doo Jon 40% May 22 39 Oct 9 233/4 Dec 31 101 $5 % ■ 13( YI*% Jan 17u, July Y 71" 113/4 Nov 22 Y Y preferred L Engineers Public Service com — Y Endicott Johnson Corp ■ . 5,400 -v: . 42% v.' ? *46";?' 47%;: 12% 23% 105% 105% 25 Y 13%" 23% . > ?'•; . ?, 57%. > Y; J; 56% 19 24% 253/4 - 363/a 1073/a,; ?39»/2 > 363/s 35% -35% 1073/a *106% 1073/a >381/2 -39% 500 17% 17'A 2,300 *21% 22% 1,000 15% 153/4 2,200 *107 - . , 49% *38% 17% 22% 4 161/4 i" 14 93 26% >26 26% Y-24% 24% - 36 >15% 25 3,100 ■: ! 4,100 — ; * Jkn 92 = NOV 11% Jan 20% Deo 15% Jan 28% Deo 42% Jan 6i% Nov .??•?= .Jan : 13% 14 13% 133/4 3,100 92 92 90 92 1,700 *25 - >26 24% , 26 r- 26% 25% 24% *26 < 25% ; 24 % •ft I 700 - 26%; 25% 2,600 v 3 36 9A Feb ■ 19% Jan 5 9 > 263/a Jan 10 112% Feb 13 7 •- 54% Feb Co 4 Oct 17 9 Feb 26 45 Dec ? 9% Deo 213/4 Jun 5 26 104 - 49 Oct 51 Nov 29 52 Nov 6 Nopar Nopar No par 16 Nov 70% May 29 28% July 46 7A Jun . 23 115 1 Jan 11 11 '20% Oct 10 57 Apr 105 Sep 33% Oct 20% Jun 163/a Sep 29 Jun 11% Jan -2 21% Feb 12% Oct 10 23% May 71 10 Sep 19 % Nov 22 100 * , 25% Sep 20% Sep 11 20 Apr 49 V2 Jan 28 Feb 35% Jan l 5 18 18 7 20 16 9 16 17 9 28 Dec 32% Nov 18 Jan ! Jan 107% 50 Jan Jan Deo 70% 53% Mar NOV 110% Mar 105 ®A Apr 23% Apr 63% Jan 42 % Deo 34% Nov 21% July - t Oct 42"% Jan 9% 103 Deo 26% Dec 110% 23% Jan Y 7 6 Jan517 20% Jan 253/4 Nov 86% Nov Mar 7 83% Apr 109% 22 25% Oct 30 Feb 70 10 Nopar Nopar 17 34% Mar 29 21 105 3A Dec Feb 108 Sep 24 24 65 " Jan 104 34% Aug 13 Nov 22 19% Sep •. 25% >12% Mar 30 10 35 21 Florida Power Corp —7% Florsheim Shoe class A newJVo par Follansbee Steel Corp Food Fair Stores Inc.j. Food Machinery Corp Foster-Wheeler Corp 6% prior preferred Francisco Sugar Co 42% Jan May 21 88 - T: 10% Oct . Fidel Phen Fire Ins N Y Firestone Tire & Rubber, 4% % preferred Stove 24 100% Sep . Federal-Mogul Corp Federal Motor Truck Federated Dept Stores com. Florence 21% Sep Y 73/4 Dec preferred First National Stores ti. Firth (The) Carpet Co Flintkote Co (The) com $4 preferred : 1,100 19 ' >21% 251/4 58%' $6 4%% conv preferred Enamel Corp 500 Y 183/4 , 20? Sep Ferro 1,000 58 Y 17% 14 , 5,400 r; 19 17% : V 47% Nov 25 Vn pgr ? Federal Min & Smelt Co. 800 58% •>*57"." ,21% . ; -~ r 100 18% - :i5%, Y 25% 106%: 1063/4 105% 105% ,.. Federal Light & Traction . 500 2,100 4,700 ?>??.; 55 54 ; 50; 200 Fairbanks Morse & Co Fajardo sug Co of Pr Rico 20 Farnsworth Televis'n & Rad Corp_l :, 2,200 107%Y,YY 42% ;., 2,300 :: 23% 107%- 57% -'56% 93 i 14 V ? Emerson Radio & Phonograph 2,600 % >8%,? , 56 -V 56 15% 94% 24% Highest ? $ per share 31% May 16 Empire District Elec Co . *24% 26 *25% 27 7% 105% *105 ' 13% *26 3 /. Y 2,300 Y 5 Evans Products Co YY 7,000 r ; Eversharp Inc ? 1,800 : . Ex-Cell-0 Corp 100 Exchange Buffet Corp, 56 23% ,233/4 23% *58%: 171/a 17% 21 94% ; *106% 1073/e 16% '. 16 1946 30% May 22 Co Emerson Electric , 2,200 8 26% " 1 433/8 *42 106% 58% 17% > . V* 22 , <ti& 41% 55%?. . 47% 47% >13% ! 13% - 365/a 403/4 *> 27% 8% V- 133/4 19% 23 *22 60 'v 25% *7% 107% •107% .48% Y \ 48% 13% 13% ? 233/4 223/4 24% ?; 23% 105% 105% *1051/4 1061/4 Y 25% .25% Y 253A 253/4 > 55% 56 55 % : 55% ?/ 56% vf 57% 57.% 57% ■? 105% Nopar Nopar Nopar Nopar Light Battery El Paso, Natural: Qaa— V?;: >1,000 21% \ 41 ' 24 23% 42% 42% ; ;::r 50 13 133/4 ! Electric Storage 100 Y; <r 11% 24% , » v; 543/4 11% 253A 160 ll3/a Y 21 56:56%' 56%- 24 35% 19 ? 36% (*106 % 1073% ;■ 40 17% 17% Feb m .YY# 50 •; 3 No par • 450 ? v 94 *89% 26,500 -V; ?. 109 ?' 54% ;; 180 y 105 ? 11 -Y: ' 42%. *7% •8 Y 8 , 57%..,-'- : *55% 27% 27% 83/a ZH ;Y? 7% 108 ■ *7% 7% (TheJ v.;Y: $7 preferred : $6 preferred 400 1 • ? 110%;,? 3:Y>? 3 42% '? , 32% 109 21%: 21% 25%,? ■ 313/4 :ii% rr 11% HVaY 11% 19 Y-40 • r 94. *89% Electric Power & . " 104% 55% •?" 55 * *58% 129 Oct 2 Y -61' Jun 10 263 Y Apr 24 200% Oct 10 190 • Nov 22 Y 209 ' Aug 28 , preferred Y? Elec & Mus Ind Am shares 1,100 ; *109 3% 11%? 11% 600 . 69% ' 3 20% 263/4 8% 106% *106 106% *106 •V Jan 113 tper share ? ,6%Nov 26. Y Conv 2,600 105% Y 110%-, 213/4 7% 28 52 13% ' 11% 56% 43% 13% *105% ::>v 8 V *50 i 49% ?Y 18% ? 69V2 1043A 10ft%^ '109 7A 3% . 12%4 105% ... 33'—^ *109 V4 1093/4 Y 53 % 18% V Y105--* , 41% Y*41% •-*41% ; 43 131/4 24 ? *107; 3 v *ti -'=»i». 5 Electric Boat common— 1,500 1,200" . 19 243/4 57.' r; 108 Y 11% •', 20% 11% '• -•*'♦ ,'.i 56 56% 28% • *241% 49% -. 94 *89% -' ; y y 41% 94 54% 109%" 1093/4 3% Wtiti 3 Va' 3% *89% 273% ' Y 113/4 Y 55% Y' 110 S3 19 104 3A ; 105 ?)v 109 32 50%? 12% 13 -till *104 v 31%: 105 ; , 53 300 50% ? 1,400 149 5/a *148 • *68 162% 162% M *18% _109 preferred Electric Auto-Lite ? ? 12,000; 17% i * ;Y 19%" 104 ..-Y ; 303/4 109% • : 3y8 :r %: ? 105 1043/4 : 104 31% 31% 1043/4 1093/4 Y'; 31 31 ; *123/4? - 500 6,100 r16% _4 com——1 preferred ?.; Elastic Stop Nut "Co 4,900 ? 33/4 50% *53 54;-.:Y 69 68 Y ; ;••> 105 104 % * . 19% .19% 72 ? ,109'/a ;s 31% 109 ,24% " *66 r - ;VY 19 %Y Y *19 Y19;Y: 53% 900 15% .54% 49% ; 49 y2 12% lls/a , 'Y 48% Y 4%% hO'ti = 100 Ekco Products Co.— 5,000? 39% 33/4 ? 4% % Y/ Y y Corp_—-5 Steel Edison Bros Stroes Inc 90 39 149 19% -*40% 125% 5 3 Sep 19 , ' V Oct 3 Y 31% Jan- Kodak Co—No par 4 Manufacturing Co_- Eaton ; 1,500 < '143/4 , 161%' 149 13 56 y« ?•> 161% 149 18% ll3/a v; ., 160 •147 123/4 21%' 155 13 July | 16% Nov 21 .!> Y 6% cum preferred 5,300 , 160 148 ; : 11% ;Jun 21 tper share .10 Co. Stainless Eastern 1,500 Y 26% 25% "I08%:.il0 40% Eagle-Picher * , Dee 34% Lowest Par Oct Jun 113 30% 20 Eastern Airlines Inc. Eastman m i 900 t-y-i % 190 51% 23% 106% 3% ■" Y:>3%Y>3%> 17 " 17% :-'Yi6%i.Yi7%f 52% *54% 56 *39% 49% 55% ' 15% 58%; ;Y- 52% 55% Deo ;; >.1,500 • . 40 *38 YY 49 % / , : V58JA Y59. Y: 15% 115% Y 105% .11% ;• 12 111% 33% Mar Range for Year >:V' 7 •r 159% *105 ;:Y'3 Y Apr 116% Feb .5 Shares ,513/e Y no 6% 52 106 >: 106 MO93/4 Jan 271 EXCHANGE: the Week 194 Y';; 3%. 17% •>145 *108% 7 -i 49;;. *66 31 110% 17 ? 20% Aug 133 7 NEW YORK STOCK | Sales for Deo 115 Y12 227 Dec . Deo 167% 58% May 28 Oct 30 3 iei 124 Apr 100% Jan 122% 41% May 10 20 112% Oct DWG Cigar Corp 1,700 Nov 25? - 116 29% Nov Mar 65 7 Jun 33% Jan .100 1st pfd—, Duquesne Light 5% -50 .1 preferred $4.50 1,700 100 No par & Co .20 No par « 118 ? Jun-27 24 Y 15% Oct 9 Y 91 Oct 14 Y 15 Oct 23 50c preferred Duplan Corp Du P de Nemours 111% Dec No par A series International Dunhill 300 Co Industries Dresser 8,500 - $4 - .. Chemical Deo Deo ; 29% Oct Jan 22% Jan 6 143% Feb Dow 50 56 Mar ,18 37% May 31 108% Mar 25 , *105 253/4 109 *108% ''14% Y 3% 147 *18% 108% Mar * 3 17% Y, 23% 106%/ 25% 25% - 48% 193/4 *104% 25% Y,57% 16% " 67 -67 109 17% Mar 22 191 23% 23% 19 *18 3/4 Deo Jan : 47 10 16% Dec 20% 47>/4 226% 52%; 52% 12% *18% 35 Mar 19 48 10 X23% Sep 5 Corp 48 Jan 105 5 62% Jun 25% Nov 22 -No par Pepper Co Doehler-Jarvis Nov Jan 16% Apr 24 52 16 Deo 45% Nov July 10 30 109% Feb 28% Nov 27 -No par A 29% 40% 34% Jan 1043/4 Nov 27 - 2 Aug 26 14 .50 100 Deo Aug 13 24 26 143/4 Nov 2 77 Y 19% Dec -No par Cup Co common Class - : 42 Sep 23 Y 16% Oct 10 —25 Corp-Seagr's Ltd new preferred " 34% Oct No par preferred partic Diamond T Motor Car Co 1,800 ' ' .52 Y; ;; 52 12% v *145. 49% - *51% , Bop ? Jan 4 11,800 ' 15 y4 1 f»<! 192 >105 105 " • 59%,,# 38 *189 51% • 157 157 : 143 i Deo 75 ; Jan 87 Apr 17 ; Feb 25 28 % 63% Nov .225 230 233/4 105 • % . 18 17% 154 ' Jun 25% 21 -No par 21% Y, 47 *225% ' Y-/~Y 26% 33/8 3% 3% . 154 • Jun 16% 9 3,600 Y 19% 203/a ,,V19% YY 192 5iy4 • YYY 24 r 225, 23 y2 SPA- 38 17%,; I73/4 y,' ; r38% m •-. 57% Douglas Aircraft , 21% 21% 21% 45%, - 193 59.% Y Y-: 58 15%.;;::;:>:,14% - 14% v,44^oj143/4 ■45 ,- *189 104 25% *108% .. > 225 23% / , 45 %- 190 '51% : . 51% 23% Y - : 19%, 226 7%;Y: / Jan 7% Mar 16 50% Apr 100 # per share •xy*•:\ ;#• "titi 213/4 :20%: 213/4 Y 20% 225 108 ' 106. 26% YY-;. 26- /" 26y4 *108% „ 34% 16% Jan Y39%M*y Y 400 $ per share * S per share 22%Y Y '•; 22% 22 21-Y:.: '""Y 19% 43 yB li*,'J " 45% 22 ' 226 : 50% Jan 29 10 H'P 'r Y ? •: 24 2,300 :• Friday ' Jan. ID t Jan. 9 " Jan. & ~t Jan. 7 S per share ->.>• 22 , 21 21% YY/;. 20% * 5 42%"40% >41% 22 v Y r , 40% 24 'jkf - 47% May 34% Aug 2 STOCKS SALE TRICES LOW AND HIGH : 39% Mar 42% July 26 & Western. Steel Corp. j.'.; Y/luhiA/Y 3 31 23% Sep 1,000 . .58% Jun 333/4 Oct No par 1253/4 , -*113% 114% Yr *125% Y 126 Deo 10 Mines Ltd 1893/4 187, YY; 189 188% xl26 . Y 114 ; 20 22% Dec Dome 31 31-" 32 *31 31 h 30% 18 Sep 30 , 174% 111% lll7/s Y 20 21% *94 %Y 96 Va *17 : 18 *111% 111% ti 21 , 21 y4 ; *94% < *96% - 34% Apr 6 9,400 173; 177 Deo 108% 7 17 ,, . 173/4 74* Jan 113 6% Oct Y Diamond Match 1,400 Y, 74 ;Y Deo 28 15% Oct , 74% 38 Jan 16% Dec Devoe ^1,200 , Deo 16 V* 36% July 31 34 10 200 - Dee 27% May 13 31% May 23 31% Dec , . Y 17% , *111% 115 Y *113% 16 ,Y: YY: 16% 30% 17% ' 17% 75% ; 51 • *173 30% 191 1893A *50 *173% 175% Y/f 127;., 127 115 ? YiYv 16 17 *16 *113% V? 115 *113% Y *29% ; 126% 126% 128 • 30 ; 30 v 33% ','34 ,Y, " Y/188?189% ; 30% 34 17% t r • 30 ' 75 173/4 18% Jy 74% 76 75'" •" >,* > 177 f 1 *• 1753/4 176% 112 y y >>111% 112 y 21% Y 20% 21% y\. 96 % 97 ; 97 ,18 ' 18 VY 18 Y ->174 •: 50% 30 333/4 . 34% 18% 73% 177 ; 313/4 33% 31% 49% Y 50 50 ; 33 313/4 31 Va 31% *31 i 34 33 17% *19 Y 16% v 16% 104%:/: "104 20 19 10 19 % Y? 600 Y 15% .16% Y;;-. 24,800 Y *104. 104%: :y 32 32% .1,500 "■ *50 51 Y V 140 30% 30% 400 32%;.33% 6,900 19% ; 37% Oct 2,300 Oct 125 = Apr 29 July 15 98% Nov 15 16% Nov 25 Nov 22' De Vilbiss Co 43% *44- 19% 17% *1033/4 1043% 1053/4- 3a 31% •;:••:• :•• ;■ 32% *30% 75% *105 - • 51 51 >• . . •'.' 17% 75 Y , 32% 33 32% :Y 17% • 17%'; 105 VB - 45 Y ■. - 30% Oct ■ 60 t: Oct Detroit 44"% 42 3/4 ■ 443/4 _ 30% 25% Oct NOV f Sep 118 Oct 75% = 18% Jan July 18 May 20 Dec - 24% Oct 5% Aug v NOV 154. 59% Jan / 4 2 ;. Apr 23 700 - 21%: . Feb 102 Y Mar; 123% Detroit Edison " 17% 30 > Sep O 56 28 >9, Detroit Hillsdale & S W RR Co. 3,30Q . " , jan 45 17 Delaware & Hudson Delaware Lack > 51% Nov; , 25% Sep r_. - 5,800 . 110% Jun —— 1,900 - 28 Deo Sep 23 16 Va Nov - 1,000 ■ 25% Y- 21%. > 30% 44% >19% 16% *30% 44 433/4 .."18% 30% *50% 44 43% 17% *105 A i 44 19% 31% 22 11,600 V 62 ' 17% 18 44% 19% Y Y *60 4 :7% .25% 26 62 *17%; > 44%4 16% 17% 32 37%'iY ;. 7% *43% 20% 105 y4 .17 *105 -"'.'31% 36% *21 293/4 is:: *20% -22 Y30% 30 31% 31 35 -Y .38% *43% 44% 44% '■>19% r 19 *21 V 18% 38 35'. 25% "*60 • ' 62 18 18% • f22%'?YY ' ll 45 44% 44 v:;. 19.' ; 62 Y 18% 31% •JJ 31%- ."'44% •*43% ?#43% ' *60 ;;2,900 18% 37% 7, ' 26y» 25% Y'YY; ; 3,000 34% >38 Y" 60 :,' 20% ■ 20 Y 18 *17% 35% Y 38% ly 113 20Va . : ' 38% 34% 7%;YY YY7% ti 7%iy a *60 *60 r 62' > 18 ,Y 18 .r> Y 21 .>•/ 22%: 60 ,Y • ; 19 #38 YY 38% 38% 38% Y 7ya 'Y 25% 38% 38% • 18% 187/e 38 35% V"; 36, 36 .... 20 y2 3,700 5,800 99% 145 Nov 22 Y 17 Deo *150- ? : - Deo ' Jan 34% Feb 3 v 25% 12 % 18 Sep 4 91% Dec 17 L, 1? pfd 33A% series A —100 Davega Stores Corp N Y _5' Davison Chemical Corp (The)____l Dayton Power & Light Co (The)__7 -/4% % preferred 100 Dayton Ruber Mfg Co 50c Decca Records Inc new 50c Deere & Co No par Preferred .1, , „■ 2Q. Cum 1,600 , 25 % Dec Jan 5 Nov 29 76% Apr 29 10 Oct 20 128 100 No par 42 : Jan 24 28 17% Oct 30 1% pfd 8 146% Feb Sep 11 5% Oct Corp Dana 180 ' • Oct 25' 111 Mar 145% 24% July 8 82% May 16 ' 19 Sep Nov 22 60 Cushman's Sons Inc 2,300 . 45 Jan Aug 16? Mar 25 106 16% NOV 20 10 52% NOV , 11 Jun 66' 18 103: Cutler-Hammer Inc 1,000, : • 34% 113 114 y: - 20 Va Y 20% 38% 37% • *112 114 x20% - ; 17%:, 33% 34% '34% Oct A Class 4,400 n ml. is 17;;; 17% Y ^4 ;;«#;a8YY 18% '•17% 34 Voy, >,'vY Y 18% Y 37 19 > 18% 36% J'29%; v30% 30 • 34 , ,,28 94% X'fi.tX- ; 94 18% Y: 94% . .. 95: Inc Jan4 165 10 Jan 87% 8 5 Oct preferred Curttss-Wright _ ; Jan. - Nov NOV - 26 i 9 28% dhn-10 35 Prior 135 *27% • 21% "Y," 20% ; 19 36 28 4 28% ■ ;Y:Y 18 -.-vr .Vv*. *112 113 •: 113 Yy - 347/a- >' 34 , v- 28%Y 17% is ,• 28 94% V 19 18% 19 18'% /l9-% *129 - 160 > 35% Deo 112 124 Dev Oct 106 46% Jan - 9 10 30% Jan 106% 115% July 3 Oct • 20% ' Apr 12 54% Feb 16. 17% Oct 22 $7 preferred ;' 12,200 5% • 19 19%' 19 19% "*18% 33,200 ' 9 88% Dec Cunningham Drug Stores Curtis Pub Co (The) i.ooo 19% 135 " 2 Inc Press Cuneo i .110 J.5% 197/s 19% *129 28% 93% ;.: 6, 5% ? 67 65 • 67% 67% 19% V;Y.T ?.■ 28% yy *94 .; 28 27% ' '93% i-y 93 120; • *117 * • Dec 29 • 700 10% •=•:. 9% *116% 119% 10%.;'.'10%. • *54 150 preferred. 4%% 400 }■>"": 18% *54 135 28 28% •; 100%. 99 ; 5 10 ' - Highest Sper share tper share 12 110% Feb Sep Cudahy Packing Co M# >3,400? 43% 40% Apr 19 110 preferred '7 %• 10 170 share Oct Sep Cuban-American Sugar '■3,800 y: 19% 60 6 > 19% *129; 135 28 - ■5% 6% 19% 19% *129 ; 28 68 840 ? y 118% 68% 116' 69 3,200 v?;> 700 ;■ *165 42% vv 100y2 •Y? t per share* 25 $4.20 :*i 400 - 33 30% . 19% • 5 v '* Year 1945 Lowest 103 preferred ?, * $4 2nd preferred Crucible Steel of Amer. * ' 5% preferred Cuba RR 6% preferred '■ 60 ,91 30% •fc. J i . ?V 18 ; *54.,Y 60 Y Y io% • io% ■ 118%- 6 1 19% 135 > 10% io% 6% 6 *129 28 26% 69% *68 19% 20 135 '*27% *116 69% 57/a 5% *19% *129 60 118% *116 118% r. 91 ,*31 20% *99 18% • 126 *17%:--is • ,,-17% 17%'. 17% 60 11% . "116 " 103 *99' 103 /: *99 " *54 *54 V 10% 60 "54 45% 44% 45% 99% *17% V, *165175 44 <f~" 44y4 44% 43% 108 126 - ! *98% * Y-Y? 32 % •, 33 20 1 175 *165 t per Zellerbach Corp Crown 7,000 r' Range for Previous 1 •*■•'• Range for Year 1946 Yi Lowest Highest - Shares * 32% *107 91%" 91%* 20% 20% 21 165 >;v EXCHANGE ■ ' , share 32% 30%. :-31 ■.i . 33'' *32 $ per > •",'127.'.\ 127 30% 90%- 90% ; 5 165 165 *155 ; 175 128 30% 30 >/4 33% ; 128 108 *107 108 , 92 21N:, 43 Va /. 20% 34 *155 Y ^ 33% 32% . 31% 30% .'*91 92 "33 *105y2 *106 108 *123 128 "123% 30% 30% >90% ... Jan. 10 V share S per 33% 32% the Week STOCKS YORK STOGK NEW Sales for • $ per share $ rter share 32 y4 *105% Jan. 9 Jan.8 V, li ' Friday V: Thursday . ' 32 % " Jan.7 Jan. 6 - S r«r share ... Tuesday 1 >i .»• . SALE PRICES . Wednesday J LOW AND HIGH Y.& 60 / Oct v,i 38% Deo 111% Nov 107 July 41 Jan 53 Oct 16% Deo 18% Deo ~6% Mar 13% Deo 59% Aug 80% Jun 44% Dec 25 Jan 25 Jan 14 Apr / . , 43% Deo 27 Deo ?•- > 'Y* "V Volume 165 Number 4559 « YJ-I/SMm>* z--mnr:*cs '■-■■■ NEW YORK STOCK RECORD Jan. 4 , I ; I Jan. 7 # per share 46% 17 % >36% 36%. 13% 16% 17% 18 8% 14 18% 111 50% ♦108 so y2 17% 77 V a * /'/ 13% .7-76%. >44% " t 45 28% 78 28 Va >159 "'.<-44% 44% 44% >49 128% 54/54%* 126 % 126'/a v :102% 102% 19 %•v-urf;*,; ;;/i.l6%=16% 28 28 139% ■■til" 5%: 7< 24% >32% 33%-, 33% *118% 119% >28% : . . 29 y4 / i: 106 i:.: > *103 ,♦35 36 <7 ' ioo. i, » *3% *4 "29% 33 y2 ^ < X31 36 >97 - Vv- ;. 31% 103 : 103 " 7 47% 47% *54 / : 57 48 •54 ' 57 6% </ 103 54% 'a 107% , 23% r 5%: 23 5 ^ >6% J. e%4 41 <$t< 41 71^,32.-.; ife ^ 137^;. 13%' 32 >102 102% v-y.y'®..'.'-.y:. .13% > 7/ ,6%/ 41 31% 102% • f1 Jo I® 32% 102% 13% 113/ J1 13^4 317a "•63% / 70 ;>'» 13% 13% 34% 33 14 7a? JSR- .^4 % •33.4.1 74% 13% 32 70 >63% '■ 20% 70 ?'70%' " 70 ;>#;77.71% 19%; ;;*i9%. ^>'.19%' , .*63% 71 ; - •* 12 % 6% *39 1 • / < 6% ■ 4074 137/a 32 :Z4%% 4% % 40 374% 5,000 •—.$5 6,900 : 13 74 19 ;13 1 on/ y4 457# ;. 467/a 19%" >19% -'63% 70 73% '74 - *IV 20 ' • >62 ! . 24% 25 .7%; ?? < ' >102%103% w* ' >88 ' 8->?=?: 89 Jii- *88 '2% 121/4 24% " 60% y "' M'v " t t, Saturday Monday.,, ; Jan.;4, pppp- Jan. 6 60% 60% ;60% €0% 30 Oct 104% Sep 7 36% Oct 53 Nov Nov 22 50% Nov Jan Preferred 713% Dec .,,7- 158 „7.;lOQ 55 . Oct Guantanamo 102% Oct Corp.. Sugar 23% Dec common.—1 $5 conv preferred— No par fi®; $5 preferred Oil Sep 21% Deo 33% pec 109% Nov Jan / j;'. • ' 14% Jan /4 7-' Jun 14 ;,v 46 34% Jan 28//' 28% 5 Jan \ * / /" til 7Apr 7 52% Apr V May Oct "86 il Dee ' 1 ■. ,x35 V- Deo /; 22% Jan 4 13% Jan 25 108 ? 9 7 31% Oct Jan 25 "78?»-Jan 78 10 12% Oct 82 7 30% Jan 28 13% Dec 31 108% Mar 55% Deo ! 5% Mar V 100 . Ded ., 30% 14% Mar , % Nov ZZ" 75 5- < 104% Jan ,/ 26 y» Jan- 19 7 27 39 "'.;T75 52% Jan 31 7 65% NOV •' . V i' 21% Deo •: /: Aug 7 161% Mar 64 Jan 17 54% May 28 9% Sep 19 12% Dec 30" 56% Sep * Sep 14% 30 20% Dec . v 7 -No pat -25 Corp.. 30 ? 6% Oct * 9 7 80 Nov 22 ' par Gulf ;"2% Aug v<7% Nov 53% Dec 25% 105 V May 20 * Gtllf Mobile & Ohla RR______No par /.Common when issued -No 200 Jan Jan Jan 5% • 26 Oct Deo • . Oct 3Q/ > Dec 64 21 ? 63% Nov 105 8 . 61% Nov 74% 105 y4 Mar 'July 4% 13% Dec 31-7 188% Apr .79 Feb 15 Oct / Oct Jan Nov 40 19 3 Feb 21. Feb ;4o% oct 10 ; 7% 165% 115 7 35 7 22% Nov 22:77 Bay & West RR. (H L) Co Inc.* Grumman Aircraft I 8,900 112 May Jan 18% 19 40% Jun ., 31 7 20% Dec ' ; 26 29 30% Feb 11,200 59% .60% 9 Nov 57 Jan July 12% Mar 30 r< 12% Jan Nov Jan 107% May y 54% May 10 27% Feb 8 12% Oct c Deo 104% Dec 7 39 Oct Sep • 48 : 7 16 9,7.:/ 4 28 / Deo 105% 47% May 14 V-25% Feb 88% Apr 3 7 ; 53 July 107 Mar 6 102 \ Apr 18 101 No par 26% Mar 4 7; 25 y4 May 10 ? 7 52% 8% Jan 29 a / 3% 151% Jan 8 ? { 147 y4 Feb 100 Ore Deo 59 5% Oct 10 : 111% 96 ? 43 5 — Deo Jun 90 May 17 19% Nov 21 30% Mar Mar 46 107 , 21 7,7 5%Oct Deo 111 Jan 13% Mar 9 / 77 - Apr 10 .105% Sep 73 ; 7 113% Jan 3 No par ; ;/ 100% Sep 20 No par Co... ~ 38% Aug NOV 26 ? , 22 59 V2 Nov • 14 27 44% Nov 56% Jan 6 7 7' ' 116 Greyhound Corp (The) 4V<% preferred. -600 1 j 30 Dec Deo 133% Deo 10 f 73 y2 May 19 106 Apr 13 5% Nov "21 31 Jan 105% r 42% Apr 18 108 5 32% Nov 21 100 Oct 10 Greenfield Tap 4 Die Corp. 80 ; 4 7 Jan Deo / Mar 27 % 4 118 34 Jan ■ Oct 140 ?,■: 8% Dec Jan 21 14? 15 22% Jan 3% 17 Feb Jun 19 Dec 25% Mar 60 ; Oct Mar ,23 Feb 123 19 46% Apr 130 Jan \ 99 111..; 20/ 102 % Dec . 10 Sep preferred Iron Jun 10 i July 10 132 May; 125 , <49% May 21 26 32% Nov Green * 47 10 25 i & 89 14 Oct Nov i 4,500 > ■P 03, 8 Jan 3,100 77;;r250# "#'V? 253/4 Nor Green It/ Oct, 24% Oct •7 // Great Western Sugar— ilO.400 4 1?% ?®% 60% Deo : Prop...No par Great Northern Ry 6% pfd—No par 280/, ? 50% ,60% 46% 300 51% ,36%*:'38% 26 -73/4---' - 89 ;r/a - Jan Razor ., . 24% 7% 89 j2j?' / "-••71 36% 37%--v 36%' 37 : ..*102% .103- • ' 102%103% 69% - 5,900 • V? * ' P M lo ■' ' . 7 Great 5,700 Iy2 v26y8 /"'7 j,. 1M Deo 28% Graysoh-Robinson: Stored/Inc.yi-.l.: 12% Dec 31 ,/ $2.25 cum. conv, pfd._i_ No pari y. 33% Dec 31 560 ? 467a[s' Deo 5 7 23% May 21 48 May 31 150 ! Apr 12 7 11% Feb 8 I; 7 26 V2 Jun 10 96 Steely. Dec 7% 102 Va City Deo 77% y 36 y4 29 (B F) ^om—i..No par. (W T) .Jan Jan 32 Co 3% preferred. 1,900 §5^W29^i2&m:'&& 75% Grant 50 2,500. /•;> 7^ 3, ^ '14% 1474 47%- * ' 62 Mar Jan 101 convertible Granite 4 inn 123 1% . preferred—No par Hosiery. No par Graham-Paige ' Motors 1 Granby Consol M S 81 P 5 1,300 31 Oct v 22% 1: 20 Co__ 5 / 134 114% 14 Feb Aug Aug 15 105 Union 40 43 y4 14 7 Grand May 49% Sep 66 NOV 52% Aug 7% Jan Gotham 700 ; 127 8 Jan 172 Jan 40% Jan 4% Oct. 9 20% Oct 10 No par 7 2,100 37% 6 21% Nov 21 137 /.>'.•$5 - preferred—^No 'pan Goodyear Tire & Rubber—-No par 6% Oct Oct 153 20 / / $5 8 31 7 1,200 600 70,200 ; Dec Dec 36 , 27% Mar 8 7 80% Feb 24% NOV 22 200 13,300 5 27% 15 Jan Mar Feb Goodrich Co 120 103 19,, 13% 33 ? Deo Dec Deo Apr ..No pan. (The) 7 conv 17% ,6 8 123 30 preferred Co 4%% Jan Dec 14% Oct preferred Glidden Apr Feb . 56% Feb , 10 Brothers. $4.50 160% ; 29 Goebel Brewing Co Gold & Stock Telegraph Co Goodall-Sanford Inc 3,700 ; 3,600 607a 7 ; 1007 s Safety conv Glmbel Dec Jan 132 • preferred preferred Gillette 100 7,900 109% 61% .14% ,185% Jan 8% 103 No par Rubber & Apr 49 21 Nov —5 Corp— 104% 24 15 ii-i 2% Oct Corp Deo 124% Nov 29 ' preferred General Tire 20 " 40% 13% 12% Shoe Deo 24% 54% Aug 135% Jan Sep 26 10c 10c 80% Jan 101% Dec .No par .No par 100 Telephone 10 47% Oct; 30 .No par i- Jan 12% 30 Dec 52 30 10 Corp 182 17 Dec 114 Utilities & 8 3" Jun Dec , 7 39 Va Oct Gen Time Instrument Corp 3,300 567/a 102% 24 Oct Deo 58 58 16% Apr 9 90% Aug 5 7 47% Aug 12 40% Apr 15 12 42 Refractories General — ' 6% 103 19 14% 1 21% July : Nov 19, 126 Gen Steel Cast $6 preferred < 300- r 40% 13% 32% >102% .71% Apr 22 14% Apr 6 r;'< 200 Apr 29 28% Apr 27 156 Equip Corp_. General 40 ' " *K>6% |08 '23% 24 574 5 • 11 X35% Sep 27 3A Oct common General 2,800; 103% \ Sep 10% Sep .8% Sep 74% Dec 29% NOV 28% DOO Jan 51% Nov 141% May 28 4 Apr 7% 48 Dec 10% Deo 19% Nov 16% Mar May 29" 67 V2 May 29 24 May 28 4. - Jan 14% 15 109 .13 preferred- Realty Jan 17 Nov 25 7 33% Dec Railway Signal Gen 2,300 * . . / ;.:42 60% ; 311/2 ' * 4,300 67%,.7,800 ' Deo Jan Jan 5 29% Jan 29 10 < Utilities Adv Precision 22% Jun 9 Dec 7 series. Public ,2,700 ? . f 120 557/a 6% 4074 13% >63% 770 ; 75% ^ » S3? 7^ 13% " - 6% >102% 107 107 23% 23d/4 5, 5% , - 120 31 66 5674 102%. 102% 32 4% - 31 67%. 56 103% 55% .13% i47a^'K>V'j| 14l/af.ff*uy4 : 30% €7% 103 13% 37% ; 38 -37% 38%; -37 - 37% / 102% 103 v -182_103 „'/ * *102 *, 103 * 24'/2 .24% r25y2 7 *7% •• 7%/ '/-77.?%' ■ 7%, ! *7'% 77s ?//„ 89% 89 %,/ -*""*,89, -v 89!. ' ■ ,89 89 ♦13% „;i3% , 123 12 Va 4% 8 No par $3.75 Outdoor Gen 57 13, * 20% >120 Ve >102 33% 147^^014% 46 ^ 71 " 1201 Deo 16 31 ? preferred Gen . 10 46% 6% NOV 0% 2 26 Sep X170 Service 9,800 v tl 4574 $5 Preferred • 19 Apr ; Corp Public ■ • 37% *55 . 6% 61% 38 ' 15% May 28 11% Jan 29 " 21 Jan common. Gen >1027/a'105 47 Mills y/ 10 ? Co Gen 97 miA Electric Foods 10 Dec Amer 700 3674'' 36% Jan Deo 1 104 Gen >105% 108 57 6% 41 13 % 32 159 % > . ' T/0 1So7^2 l°«Vh Vlf 2lu 11? 6% 6% 47^^JO;^^574 '//; ^25%p26^;^M^.: 26* >>f25.%'t'26 159- •6%. 41 137 a .-•>14%73.14% : >^45%Xf45%f * 47 >54 57 , :: 13%. 34% *33% " 5%. : . ■ ' ?i %/ \t 6/» •22%/ .5%. 41 47 4 - ioSy" 55 A 7 107 137a .713%: 3f 31 P >102 : 102% u *54 31% 37% >10278 105 ««v 23 / .. 31% 37V4 July 78 f 106 97 84 35 18 ./,. 13% General Motors Corp 1,200 *106%; 108% 98 >105y2 108 IIY? 1$? WinSv WSs^^!JIV4 182% 103% *102% 1077a 5% 6% 31% J® 4 iV9 10374. 56 ;, v;: 547/s 108 >22 > 64% * 657/g 55 •107 >97 #1?L/ 10An/a 120^ 19?V . 103 * .107% *106 >106 " 98 Jun - 23 15 preferred. 3,400 35'/a/ 36^. , Corp 2,900 30 >103 23 77/a Dec 3' 38 Dec 31 preferred conv General , 32 ,;:-v " t8 57 ' 37 * % < 357a *28% ' 106 37 . preferred- General 3,100 . . 57a - $ per share 27% May 13 48 112 14% Nov 21 :'v 5 % preferred 8%% conv preferred 900 - . 119 35 30 *103 36 J/2 '^li? 108 36% 37% 2pi/ 4,ri'4 54 ' 6% >121% 124 / 7 31% 32 y,/,: 65 X.32 121%; >28% 107% 107% 35 Highest $ per share 3 17 Co Container /'General 52,700 24'/a '*116. 35»/2 , Jun Oct 7 (The) preferred. 7? 4% conv 2nd prelorred General Cigar Inc— 77). 1% ' preferred—-. 26,300 " Sep 7 ?' 8% Nov 4%: 1st . "■ * 130 r Hear 1945 18% Sep • 16 >23% 36% 118 7 7 35% 28% 31 ^L/ 471/ 34%. ... 106 *97 24% - 26 710% Sep 7 Transportation Baking_> $8 preferred.-; General Bronze CoipGeneral Cable Corp^ 1,060 29 5% :- 61 3 Nov 99 General 130 4 . >136 5V* ', .117 - 28 V 103- 47% • 121% *; \ Gen ! 13,100 23 Ya ' Co conv $4.50 2,800 ? ' 18 15% ';7... 139 ;• 24% • 35% >106 200 80' 127 *37a - 16% 57« ... 33% *103 n 7*136 357a.;'. 28% : -J 157/8 ,' • 118%- ' 31% 4 . ■ 98 t ,' 31 •105 / 108 ,105 ;;f; 39%; 39% / 38% 393% •102 ' ' % 102% - 23 4 via 29% .7:29% 5% ■35 107% : 105 V: : 18 Range for Previous Lowest $ per share 28% Nov 22 Gen Amer Investors •:/ 55% 102% ■ 23% *37a. 24% 33 v, 371/4 >106 98 t % 138 — 57a 33V2 23% ■ 29%. . - .tS* 106 tS% *103 ; | 31% 2374?' • 29 y« 138 / V ll£t? HS& 35 /4 35 /a *106 ;v 107% ; *97 ;. 98 V31% 1874 -3% 'y.^3% , 4%% 5%% 37% 1267% 102% 16 common, common. Gaylord 160 54% 127" • 45% Sep (Robert) 3,100 13 367a 55% ? 1874 24% 33% 37% 55 7127 16 f' Highest I per share' ■ erred 3,000 77 160 10274 157a 139»/2 5%. 57/a : 547/a 127 23% 29% '18 12% 77 .162 7?36% 18% . *138 yy •159 , 102% . , ' - Par Gar Wood Industries Inc. X10 ? v ? 18 137a . Co Gardner-Denver 600 1774 "17274 172% '"7 187a 18 y8 167a , 24% s% 14% v 14% *108 110 77% % 102% 187a i, Vr***v*¥ Lowe&t .. Co—.—— 10 Malting Co lnc..l (Thej I*».c ptv. Gamewell 29,200 45% %45V4. 4574 i3 "44% "45- >M ' a 4,900 50% *50 51 49% 4974 ' 1,100 1281/2 V .128% 128%' ■'-••' 129 7/129. f ..." 110 120 J,; 116 116 ' ♦115%'* 116 / -7;7:;; -600 5374 yZZ;:7*i26% 187a 2374 ' , >115% 557a •; , *119% 121 ; ,.35% 35% / 29 y4 29% *103 ; 106/ y 36 37% y 106 v; *126% 127 102% 102% ,• 139% 6 120 • 1,100 3,000 44y4.744%V./7744 •>/44..V'#1,100 *29% 297/a' •' 29 / 29 7; 1,300 37 X49% 128 % H-::l * 127 : 24%.; 24% ;'T\; '7.,34%... 34% J 7.29 n 5%- 5% '51 ;! • 160 369/a 45%--' .,45 54% - 16% Z >138 24% ; v ; :-4*V 29 „ *138 , ;y:24% 16 % 172?,'. : 187a 29%/;??; 160 '. ' 44% 29 / 37 Ya 157a 24% 3% * * 127 f: 702%; 19%. 19 .24 ' 24 Va *'*.*•* „Z 3% / 3% 29. m -♦115 55% 127 >126 ?• 102% *,19'/a - :C:/44% 160 , 50% H6 53% . 28 % 36% 44% •- , 128% #:U0./Z . 44%4 200 18% >100 & ■ - Galvln Mfg Corp_ 2,900 -752% ;,77yl 51% "v53y2 i 3,500 117a 12 1 '' i ll'/a' -ll'/a ?>'!2,900 - -172 13% IS 7127% 7774;// 7 77 % 77% • i', Range for Year 1946 .... preferred Co Co 6% 7? 51 - Vb 172 13 , 16% ,y,, 109 137/a •. Gair 3,700 3974, '3974 14% 109 76% v. 160 b so ♦127 116 y* „ 12 14% - 50 ;' /"'-i *170 /• „. Gaoilel 18% 17% * Trailer cum 3,800 21 8%: 7 Froeaert Grain Fruehauf 2,400 •>16% 40 18 7v/--' 45 /■/so/-/ 50% : . 116 . J y vir'i • >127 50 t 12, -W* ,• yV i'Aftv 13% 97/8 17% 17% >102 ./. 117 Ill ' •• >39 14% Vj\ STOCK YORK /' 4% 97/a . 8 7/a i8%;%7yy-17% 44 . 37 •y: 14% ■ 221 3>'1h EXCHANGE ' Freeport Sulphur 210 , :; 7% 18% 13% 162 . H'..' ; 17% :: 13 17 85/a -• 117 •108 172 ;•; > 76% , / 28% 36:% s;-j -?7;7 • 51% ; V 18 <• 14 ♦159 35% 50 40 17% 14% 100% /;/■ 67a / 2074 10, 18% 8% >100 . 111 >169 44% 28 y4 V, 162 .35% / 78% .«■; 44% • 18% ;(Y 19 ' 36 .35% ' *16% * - 18 3974 //v/y 127 r 18% \ 18 114 -1874 ,100% 2074 10 17: *16'/a ; 39% 14% 20% 10 8% 17% 12 ■&: 7i 18'A 13% is »/4 *108 171 17% 13% i v 16% >102 51% 12 •171'': 20%/,' NEW •/' 2,700 ,'*1.600 ; \ 3,400 " 9%. - 1 36% : *".vv> 13% 13% 77a".":"* *,7-71/3 t? 7%"Z; • ' 87a 14%;,.. 50% 12 7 >11% >170 ;.*72 "10% *38% 111 - • - -~101 Shares 467» 46%" 13 7 7% :> Z * 20% 8% 117 14y8 Z 21 18%; 36 101 f per share //.' 48 18% ' / the Week . t per share 18 Sales for Friday 'Jan. 10 Jan. 9 \47 36 '7 18 18% 14 >108 d 100% Yur? 7% 16% ■' 39 y4 •102 115 17% 100% 13% lo% " 9 39 % 17% >100 ;Z ie% 18 39% Thursday / . 46% 35% 101 21 :/ . io%; 8% >38% . 10 18 1 13Va ■■><7% 18 8% • >100 16 18 7 11 : 9% 21 ! 17% 46% 36%-' 37% 7. 7% >20% Jan..8 I per share , STOCKS; ' ' 13% ; 7 ' \< 47% 47 < 100 7/8 13% .21 V'v': 9% 7,*15%" 37 >100 7% > 7% ?; 21 ; 17% 37% 101 ,.>12% : 47 % '• 17 '/a- •" t PRICES .Wednesday Jan. 6 46ya * 46% >100 Tuesday tver share per sftare ->17 ? HIGH SALE ' LOW AND 7v Monday Saturday m-% THE COMMERCIAL & FINANCIAL CHRONICLE Deo Jun , 58 28 May 31 ;... Jan 49% L ?• Jan . 82 Jun 61% Doe _ I per share jpp f *37 39 >17 > '17 s 717%' *18% . ' ,. 187/8 ? / 7*10877 no *107 *108 '■§ 7 160 -?/'■ / 23 ,*38 39% %'&■ 9 % 99%'' 99% ' ♦87a 7t' /■ 6% *100 31 41% 41% >107 *63% *165 18% 64% /' 18% 57% . . . 107 107 :•/ 64% 64 '' 172 >165 ? 19 Va ! 56% %> 134 >132 ; 82 >78 V ■> 29%; >29% 131 29% 26 7 24% 36% >25% " 88% 27 >28 77 ,7; .7 30% >17% >24% :/ 25 36% 30 102- 88% ■ ?' 38 16% >18 51 ; 30 51 v* " 30 >100% 102 7' 7 87 87%. For footnotes see page 227. 7?: *165 7 >107% ?• 'i 160 tfae pmprpp' stdCKS •NEW Week r ni YORK STOCK Range for Previous Year 1945 ZZ^-Z? Range for Ye&r 1946 ' Highest p EXCHANGE t/S /Lowest* Shares 57 7 >132 ; 6% 35% 38% /$ per share :7 7 7 7'7 63% 134 128% >25% 27%-* >28 29% >17% 24% ' 37% 17% 17,% 24 37 . . 150 >63 18%57% 7 'V Lowest ? % per share « //■;,/?"?;• Highest f per share, - $ per share '7-7 70; 35° 18% 800 131% >79 „ • 82 *128 7" 131 28% 31% >30 27% "26 29 27%' 100 ; 7': 283/i 31% 70 150 600 200 26 300 27'% 800 187/« >24 24% 237/a 24% 700 37% 36% ,37% 3,800 37% >17% 7% J) , cum (G 19 28 16% Jan 16 106% Jan 24 60% 20% Apr ? x30 7; 7% 9% 101 preferred Nov 31 103 W) preferred 46% Sep 130 Chocolate. 76 123 10 Jan 26 Nov i Holly Sugar Corp 18 7 Dec 71% 92% Nov Apr 189 Jan 170 22% « 39% Jan Aug 138 Z Dec July Feb 2 72 Feb 21 123 Feb 138 * 8 Deo 21% Aug 32 "v Dec x43 May 31 41% Apr 6 : Dec 103% 130 3 39% May 13 / 25 ■ - Jan > 32% Dec 26% Jan 17 7N0V 33% Nov Jan 23 % 90 NOV 37% Jun 74 40 May 22 34% May 10 11 19 May , 146% Jan Dec 16 22 Sep 34% Sep Mining Apr 106 , Dec 17 139 t, 18 21% Sep 11 22% Oct 10 Holland Furnace (Del) new Hollander & Sons (A) 9 ,72% Apr 30 / 3b + 2/ Aug 38% Jan < -14 v 20% Jan 100 y4 Oct 10 Jan 192 11 Oct 26 Hlnde & Dauch Paper Co Hires Co (C E) The Sep Nov 5 90 28 22 Inc. Dec 105% Dec 18 17% Nov 25 $4 conv preferred Homestake Dec 44 61 Oct 30 169% Dec 12 MotorsHercules Powder... Hewitt-Robins 109% Mar 26 30 41 % Dec preferred Dec 16% Dec 6: -Mar May 23 7 Nov 24 51 Dec 14 104 Va Jan 22 28 ? Dec Apr 43 V* Jan 157/b .lan Dec 155 Oct 98 Jan 29% Oct Apr 36 CO non-cum Hershey 22 Oct 110% 7 Jan 14 Hercules 5% 152 Aug 21 Sep 25 8'/' Nov 21 " n >17% t >:S? 3.65% / May 29 > 170 18% Dec 121 Dec 105 Jun ;/ 43% Nov 27% Dec 103% Aug April 109% Apr 13 ? 34% May 28 5% Nov 23 : preferred • " / 28% Nov- 22 (H Helme 2,400 * . 29 : 600 7 64% 56 131% 130 Heinz Jan Nov 29% Oct Co 3% % 1,900 9 8 Hayes Mfg Corp_._. Hazel-Atlas Glass Co Hecht 19 99 Jan 15 V* , 119 16 33 20% 8 39 Jan 1 24 Oct 73 151% Nov 33 Aug 26% Jan 9 10 20% Sep preferred <40% May 13 / 1 Oct 103 Hayes Industries Inc 400 Nov : 105% Jan 4%% preferred (modified) 172 >' " 18% 7 56 *27 37% preferred: 3,600 1,600 42 107 >165 *30% 24% conv Hart, Schaffner & Marx Hat Corp of Amer class A 7 200 7 77./?: 101% 107 " 193/4 1,600 7' " 29;: : >41% • *25% " 193/4 >100 63% ' ' 6% . /•; 7353/4 ;. 29 83 >28 4% 15 17% Oct (M A) Co $4.25 pfd Harbison-Walk Refrac. 3,000 132 130 28% 32% 35 Hanna 63/4 >35 172 132 7 28% 7 30 42 >81 >30% 100 * ?'7/; 1,900 ^9.777 9% Water (WF) Printing Co Hamilton Watch Co : 38% *99% 107% 18% 80 % ' 29 '"'*56% 7 38% 7 101% 7 63% ;■;? 25% 7 35% >165 573/4 v Hackensack Hall 500 78% >107% 172 110 6%:-7 67/8 35 V8 29 107 128% 7 7 300 1,300 , •107 108% 7: 22% 7. 223/4 *153% 160 2377 39 8% 7 17% ♦108 108% 22%' 9";7.-7?; 29 38% 17 ;.,'-7;'9%*?:*' 77y>9'7)'?'^9%:; 100 7 " 7*99% 100 77 80% 29% '7; : 31% '738% :.7i-i8%77l8%/77i:;7; *153% 160 39/7.7' 7 / 718% /18% 7 ' 39 . %/7 >100 42% 7 ?' 42 /; *63 ■" 37 . j t per share .17% 173/4 -18% 18%*108 110 • <? 101 -77 "v: 24% 56 ; Jan 11 17% Jan 42 Jan 35 • I- Nov 60% Jun ' 7 51; 51% 30 ,17 >100% 102 *87% 90 . 17% ' 51 . 30 * •• ■ 130 •'? 313A, ;>28 18 ♦100 1327/7 82 "7; ,v; 25% 30% 19% 36% ; , 7-130 29% 31 30% 16% <> 16% >50%'/ 51 •100 ' 197/a 24% *18% '>29 31 .•?'''■: "106% 19% 1 'J.n *Q 7 . 57 56% >78 ; 131% >28% 7 r31% •247/a 30 134 38'/a ,P3S^ 29 7/ 63% 172 .132 22% ::/7;. 7/42' 719% ' ' 7101777;: 63% 82 *131 6% ? 134 *79 ■ 29% ♦165 19% 56% >132 108% 22 ♦99% 42 107 7?7 >107% 35% 107 : 110 :/ ;4 9 7? ? 6% 29% / 101 187/a 9% ;/:p. 41417a7//^ 41% 172 >56 . 17% *153% 9%,' 35 30% xlOl ',7101 / Jan. lO share *37 17% 99% . 6% 35% -■'$ >108; 108% 7 97a 99% . Snlesfor/ Friday / *18% . . 39 9 *29% 7 , 110- 39 9%, 67/8 6% f 35% 102 *106 9%, 7 99% 9 ,7? ; 187/a , .99' 6% 35%/:'i ' 17% • *107% . ('J,. •37 2323% *153% -160 39% $ per H 39 »18 %? , /; Thursday/ Jan. 9 / OH ;v n *37 *108 23 '/a, i /< -K 108% •• 35% *30 • 9 jJan.'Sq 9 per ^ *17% ' 160 39% 9 • ■ 110 ♦153 *t|^6dneojUyct'y * 187/a; 7 77*18 %. 7 >107 % 108% 77:23 23 •153 37 17. a..-./*. Jan. f T37 Tuesday f per share ' . .; - per share • 51% "17% . '17% , ' 51 51 "• .16'A 17% 4,900 Houdaille-Hershey 50% 51% 293/4 30% 1,500 1,000 $2.25 preferred.50 Household Finance com.... .No par 3%% preferred..... „__100 Houston Light & Power Cq. .No . 30% *100% 7 873/4 307/a 102 88 • 7*30 '*100% 88 31 102 88 - >100% 88 102 89 - 800 com. .No par par 12% Oct 30 28% Feb 6 ? 6 52% Apr 22 16% >Jan 55% Oct 10 35 % Jun 26 25 99% Dec 13 111% Jun 20 46 27 NOV' Sep 78% Sep 23 , 96 Dec 9 Aug 102 Sep 66% Jan 25% Dec 63 v Nov 29% Deo 109% July 87% No* "7" 1947 Monday, January 13, HCLE FINANCIAL CHRONICLE THE COMMERCIAL & NEW YORK STOCK RECORD Saturday Monday Jan. 4 Jan. 6 t per 33% 27 *26 27 19% 26 26 34% 35 . 36 34% 34 share ia% : 19%. 19 1 19% . ; , ' 13 41% 41% 41 17% : 17% 28% 28% > '". 6% 6%' 28% >;> 6% 40 17% 17% 28% g% > 6% 6% :300 0, ' 28 ;/• 6% - *38% *45 48 *46 94 *90 94 *16% 17% 46 4 7 3/4 *90 8% 29%: 12% 12% > 40va •12% 12% *12% 40% "40 % 7 *125 ; '• *178 ',.'• 33 26% Aug 9 34% Mar 25 14% 7% 15% 16 7% *7% - *5% • i 10 5% Sep 9 30 . ' "A '• / 'l 4% 4% 35% 103% 103% 13% 135% r 51% 53% > ... 4 38% 16% *16% 16% *40% 41% > ' j 41 *41 % •'•' %••;:' 23% *143%' 147. 39% H'T X. *101 101% >51% *51% 54 *109 1 "111 '' 7 . 53% l *109 111 *132% 135 *121% >7 135 62% *111 *130 146 C .;7% preferred; 1,600 ;• ' 10- 26% 25% 27 28% : *111 *130 146 Dec 37. 99% ...*.1 •' 35 .-*99 28 Va -*90 28 27% - , 300 . 21% 26% 26% *50 52% 21% *20% *25% *20% * 'v *15% . > 21 26 *50% 26% 16% 16% 16 > 14% 50% 50% *41% 43% *42 23% 23% 24 51% > > 108% 109 53 *52% 52% 24 23% > 109 *20 27% 15% ; "14% 14 21 26% 52% 16 r 23%- 203/4 27%. 16 • 16% • 52 V4 > 85 *82 15 14% 15% 15% 16% 15% 50% 52 49% 50% 50% 51% " 49%, 44 - •: 43% 4334 *41 23% 23% 23% *223/4 24 ; 109% 109 Va 109% 52% *42 44 24 > . ; 23% . 109 % 108% 108% 108% 85 85 ' 17;/ 18 .7 32 >32 :>. 32 35 % 35% "\ ' r 49% 50 •' *49 50 49% ' 50 1 ' 82 50% 49% 493% 49% 49% " 49% 84% 32 ;:x 98 *97% 100 . 350 35 % 36 49 50 49% 20 2,800 49 > > 1,900 i't (The) Kroger co 1,100 49% "..■■■'•■ / •'/' •;' = v Saturday Jan. 4 ; , share i per $ per f per share i per share -1 Jan. 8 Jan. 7 Jan. 6 : • • Tuesday > Monday ,; , Friday Thursday Jan. 1) , x the Week Jan. 10 '<> I per share 8 perthare share Sales for : 6% 6% , *13% 13 3/4 13 13 41% 4134 42 3/4 42% *13% 14% 14 1/4 14% *53% 57% *533/4 57% 53 Va 53% 53 10% 10% 43>; 10% 11 y > 42% :■ 43%' >;/■ »."7%' '7% 42% . 7 6% 19% 20% 73/s 7% 7% *45 y4 133/e •: • 57% *54 24 > V *54% v 2% *28 20% 20% 8 8 45% ; 10%; 43% .•V*7'••• 7% .2% • .- ' ; 44% 07% 23/4 *28 49% '23 21% 21% 8% •>; 8% 9 45% ' 47 :> v>":<>>'• 9% 46 : . v 8% 9%" : 746%;'^ •';. ••" • 46% 5,000 . ; 1,700 v -. •' : 'i ' :52% 52% 10 "IOV4 33 33 *97 98 » > *23% 24% 23% 233/4 51%. 52% 51% 52% 10!/a 10% 10% 10% 32% - >•• • ' 32 3% > *32% >- 33% *97 98 98 V, 186 Va *39% 42 *39% 40% *45 46% 47% 46% 98 186% 187 < 96% 98% 187 *98 99% 52 52 46% 47 46% 28 185% 139 % r 23 3/8 23% 24% • 52 52% " -7 28% 106 47 96% ' 39% ;• 41 47% 47 28% 28% 1031% 103 % ' •'•••'• . • •" 7>, 28% *102 33% 42 *95% 51% 46% 28 % 27% 103 Vs 103 Va 19% 19% 18% 25% 25% 77 77 77% 78 21% 21'A *21i/4 21% 21% 21% 170 167% 22 21% 21% 20% *168 77% 78 21% 21% 21% 21v4 169. ,' * . 50 49% 22 21% 22 21% 21% 21% 21% 99 *97% 99 *97% 99 99. 99 footnotes see page 227. 10 ' >; •' 46 - : *53 •103/4 ' • *15% 16 •:, • 443/a 30 30% *102% 108 ' 47 . x 800 45% 4,400 30 1,700 17% 18% 25 Va 21% 21% 168% 76% 77% 20% 21% 21% 169 :> 21 Ve *170 77% 21 27% 27% Loews . 497'a 48% 49% 21 -21 - - 21% *97% • 98% 16 16 700 / , 5,200 s ' >: 27% -•49% Oil Refining Co 2,300 250 - - > ' 21% ' *97% 93% ; T 15% 15% " 600 >3,100 3,500 10 ' 3,200 Lone Inc .7% Nopar Corp—No par Lumber a— No par (p) Co—1—'.'-10 - Star Cement Long Bell Ldrillard preferred Louisville Gas & el a Louisville & Nashville Lowensteln (m) & Sons / 4'%% cum Lukens Steel ; __100 —10 May 29 13 68 20 3/4 Sep 1023/4 Apr 22 82 y Apr 9 17% Jan 28 . , 553/4 May 23 17% Jan 28 5% Jan 15 • 4 387/8 May 16 151/4 Apr 15 65% Jun 14 64 18v4Nov 21 6% Oct 9 41ya Oct 10 « 83 'i.'1 93^ Jan 24 v Apr May 13 44% May 14 33 '> 21% Oct 10 , 22 6 28 15% Apr 15 37% Jan 21 74 Va Jan 10 10 Sep 30 ;• 102 <- 13 34 22% Jan Jan Jan 18 V« 35 y4 22% Mar •_ 24% Sep x453/8 Oct 20va Nov 97 Dec 14 Sep . 26 23 • X49 V4 Range "65% Apr 11 32% Jan 17 <2 a Feb 6 43 a May 7 >08 j^® 30% Jan 14 Opt for Previous Year Lowest share 8 per Nov : Not 50% .Jan 37 Dec Dec 40 Va 35~% Mar 26 NOV >96% 35% July 1945 ■ -..Highest i per share 7% Deo 4%"Apr 48% Deo 54% Oct 47 12 Jan Jan . . >63% Dec 72 Oct 17 Vt Dec 44 Dec 17% Jun 5% Dec 29% Jan 6% Jan 2% Mar 60 36% Jan 20% Jan 17 V4 5 Jan 35 v* not 13% Dec 33 Va Dec Dec 68' 7% Jan f Deo 27% Noy 51% Jan 33 Dec 54% Jan 35% Deo 100- Oct Jan 1013a Oct Jan May 23 ;l03VaJan 24 210% Mar 29 , 11 30 21 ,19 Jan 8% 72% May 28 Aug Jan > 88 Jan 8 Oct 31 60 Feb 13 Feb .26 . 48% Dec 23 7 23VsjNov 22 43/4 Jan 29 99 Dec 27 120 Aug 7 18% Dec 31 • 45/4jan 14 25% Nov 22 - 41 ,Apr 11 ./' 64 Jan 3 94 May 31 17%. Oct 10 35. Jun 10 x20' Nov 26 ' 313a Jan 18 166 Dec 5 ?§ No par .-.50 Inc——— -1 pfd series a 100. Co Jan ^aa Jan 30 14% Oct 28 - No par 43 No par >. 273/4 Belt,Co———1 17,800 ' -•'27% •; .. Tobacco^-*——-25 10,800 ' • : - 21% 171 Lion 3 ' ^8 per share • ——————25 ,•< 843/4 Sep 30 Preferred 100 ' 183 Dec 14 Lily Tulip Cup: Corp———No par \ 37v4;Dec 6 Lima Locomotive Wks——-No par > ■ 44 Nov 21 Link 30% May ~ 30 62% May 17 65% May 22 b v 200 243/4 Corp——5 Liquid Carbonic Corp^ No par 3'%% .preferred _— ——100 Lockheed Aircraft Corp—. —1 106 ; Sep 45% May 101 3 49% Jan • Stores Series 5 3 ■' 1 Liggett & Myers • 400 >3,900 ; 54 19'/a Fink Prod & 3 Jun 19 26 • 19 ' 21 3 10 22 20 24 Coal——No par'-0/ 2% Oct; 9 preferred —.——.'_50 $3 non-cum 1st pfd—!—No par ; 50c non-cum 2nd pfd——No par Lehman Corp (The) 1 Lehn * Jun 3 sm.j,. j • Lerner 29 •46 $ per share "> 200 300 , > ;> 43% *42 25% •77% 27 27% 50 16% " 350 18% 21V4 27% 15% 97% 25 - 169 49% 15'/4 *103 - 213/8 '167 26% 00 50 .'29% - 77% 27% *27 •' 25%- 50 28% •. 28% 103% 19 lfia V • 53 46 , 186 186 42 53 ■ . 13,100 96%' *94 47% 45% ' i •10% 33% ,'Par Corp__—No par 21% Nov Libbey Owens Ford Glass—Nopar 43 Nov Libby McNeill & Libby .7 ' > 10' Oct Ljfe Savers Corp new———-—5 y 28% Oct 1,700 5,100 . 11 >>>>>:LowestHighest; 600 ' . 25% 77% 500 24 "23% 52% 52 10% • 187 47"-- . 47 45% 47% 26 For *185 51 52 46% 19 5/8 15'A 10% 41 : 25% 22 >52% 187 187 19% *49% 52 % • •• 98 186 51 53 23% 23% 33% 733% -96% *95 ,'> 96% -•--*95*96 97% 97 V4 97% 25% *97% 7, 33% 33% 19% *27 .24 V 24 v4 '. 10% / 7710% / 10% 19 *166 ; 24 " 25% v. *23% - ' 46% *51% *103% U 23% 23% 24 ' •! ■•' 231/4 24 22% "•22% ! Non-cum • ;> ,7 5,600' 23% 9% 46% 23 24 23% 7 46 49% *28 49% ' Mar 19% Jan 79 ■■> i'.'- ;••>'■':'x > ^ Range for Year 1946 Light Co 4 % pid 75 Pesos Mex (The) —yl-l—No par Valley 90 27% Jan S. i Lehigh 2,500 y' 23/4 23/4 >•■ 2% - Bep Jan 109 100 i Aug 43.'a Oct 10 ^ 6,000 .10,700 * 7. 7'/s 7 '01 30% Aug 23 1~08% Dec 31 Dec 24 Nov 22 Sep 10 f 4,500 900 ;•• 10%; y; '•7. ,7 i .. 145 Not 137% Dec Not 116 1 Dec 140 Dec 46% Not / 105 1 Dec 118% Aug 31 • Jan May 27 55 3 • , — ' "-*;:•. .. 44% 43% >. •7% La Consolid 6 1,200 ■ *28 49% 2% 11 , 44 *** Gas Laclede 500 5.4 K/ 7: ;'>'•' 54 ; : io% \ - Jan 101 r 1 STOCK r . 7.1 600 >; 14 56 > 32% Jan 7 > 5% Sep >>11% Dec Lambert Co > 38 Sep Lane Bryant >——t—No par ..,13% Nov 4%% preferred ——-»——-50• r:> 52 -Dec Lee Rubber & Tire———-,—5 >>49.....Sep Lehigh Coal & Navigation co—-10 / IOV2 Nov Lehigh Portland Cement—j,—.-'-25 » • 34 vi Sep Lehigh Valley rr —— 50 v 6Va Sep ; •'77. 41% *54 -S 54 -10% 10% 42% 7% 2% 57% ■ .V «; 14 ••'•'•>;:; *13% 14 t 40 % Jun 21v4Nov..22 / 108Va Dec 31/• Feb'26 Dec . 9 • Oct 30 V.j.: i : 47 ' Wot 114% May ; 109% Aug 36'"? May 31 41.1 Sep 19 ;. ' .xC-f5 >>.; EXCHANGE;- 9,400 6% : ' 42% '7 :•>"' 41% 133/8 13% > 13% 54 43% 11 Va ; >7'. 6 6% *42 • 54 *53 54* ' 13% 13% 42% 13% 54% 7: 2V8 46 46 46" *23% 13% ' •> 13% 54 49% *28 19% : 43 *533/4 53 ; 2% 49% *28 1 V> 13% 6% • 2% 2% >'•'. 43 42% 14, 10% 42% *13 X 6%>7 6% 6%' ;V J ]■ ': i •'; '>•••->'>: NEW YORK Shares . 6% 6% 6% x' •: STOCKS " PRICES Wednesday > LOW AND HIGH SALE ^jno par: r 13% dm |f0t 34% Jan , r - 2,000 . 19 mt %4% Jan 17 ; 5/ Dec 4% conv. 2nd preferred 100 > Kinney-'(o r) co-.->>_—11—tl 15% $5 prior preferred —No par >82 Koppers Co Inc—1—!__>—-—.-10 " 2614 Cum pfd 4% series——. 100 >96.. Kresge <s s) Co— -10 33 ■; Kress (s h) & CO—11—l-.-No par-; 43 60 -4t DedlO * Kimberly-Clark Corp——1—-No par ' 497i' s:- > 32% 31% •; ,50/; "49 Va 84% Dec?:,; •v'4^A Dec 18% Oct 10 : '67 Jun 10 >45 Sep 19 ? 26% Feb 4 ..' 15' Dec 7 i > 34% Jan . 19% Sep 19> 30' Jan 21 ">11% Nov 25 • 60% Apr 30 x *> 600 r 17 Dec- 31 17% Oct 30 % b—1 Kennecott Copper No par-' Keystone Steel & Wire co—No par >:•.'• Class '1,200 98 35% 49% 493/4 483/4 • 17 *82 32 V' ■i ...' & Col—-*——'—5 Wh'l conv cl a—>_1 (Julius) Kelsey Hayes 14,400 1093/8 109 3/8 ;100 preferred!— '+'4 %-non-cum Kayser 500 4,200 24 ;;•'■ 23% > •35% . 35% '49 43 *40 • 18 •: *82 98 35% 53 '•' *17- 32% ' 35% > ;> 3,100 ;i6% 51M *97 32' 33 % 98 35% 32% » 83% • *97, 33; 98 35% 98 *97 98% 35% *17,. 17 86 *83% • • *97 ; •> 14%. 17 17 17 y/% 25% 14%; , " 500: . 16% 25% ; 24% ■ 18 *16% ,51 16%; 24 . 4,900 26 16 <25% 26 *24% 25 ■ 25% 243/4 Deo -v 116 >■:.•■'">V■v::■: Stove |c Fum—v-10 Kansas City Southern.— -No par Kalamazoo 200 < 24 • i >>>>>/■>!:>>V'IT >■:• >>I>i> 21 :> *20 Va v. -6^ . 108 - July 16 €9 % May 29 107% Dec 27 114% July 31 •115 Oct 30 j 167% Apr 9 ail ; Sep -11 > 153 ' Apr 9 44 Oct 9 63% Dec 24 109 ; May-28 ' 115% Feb 15 140 Mar 20 150 Feb 25 * 31% Nov 22 ' 53% Feb 2 * 99 Sep : 4 :t 108> May 22 * 18% Oct 1q 3*' Apr 22 Co_--«u-»-.-i.«i---»--ii--,l Joy Mfg 7,600 ' 7 38.7.> 28% *20% ,2i>-; >26 ; 26% 51% "51% 14 de<^13 100 Jones & Laughlin Steel—a—No par 5% pref series A:—i———ilOO 14,200 * 99 y'7 99 1001/8 28 J/4 . > 48% Dec •• > 45 % Nov: 22 ' >' Johns>Manville'Corp coty^-No pan « ■ ZVi% preferred 00 >>600 .*• Johnson A Johnson .>——12% ;v J... y >4% '2nd prefered sec A,„_-alOO Joliet & Chicago RR stamped.^100 >>'34 7 "35 35% ' 35% IOOV2 34% • :99 Nov *11% I>ec .39% Dec 141 Dec 39Va Dec 18 141 100 146 y 14%'Nov 22 preferred^—_100 '>'-4 lA% . 13% Wov 34% Dec > 23 % Dec 31 > 20% Dec V Jacobs (F L) Co_,—-.———I. Jersey C6nt Pw & lit 4% &fd—100 Jewel Tea Co Inc—-1—^---No par 30 Dec 193 > ;i4% Nov 22 : 600 121' *130 > 146 "■ Vr ' '7 7 .61 •> >61 •112% 61% 112% 35% 28% 131% 111% 7 f' *111 :' ••->; y *130 *111 500 52% 131% 60 ">?' 110% >> 7 >121 124' 61% •■••• 52 '-' >>,; > 131% *121 63%" *61 , k. 146 28 Va v 1313/4 ; 1?0 . 110 Va 4,600 10% ,: 101%" *101 '100% Dee ' > 39% Nov 22 common—IHt ——AT5 preferred A0 v >, 'PpV-< x>vy*>•>.., H 11% Nov 30 Intertype 'Corp..'—__—l_—No.par Island. Creek ''Coal>— i ; 200 i >'110% 52%f< 52% *109 • 613/4 99% 99% 132*4 *121 34% > 35% *99 > 52% "• ' ' : 8% Mar 9 ■fe 95% Oct Dept Stores_L——No pat Interstate f 200 • - 107 ioy8 10 Va 101% *101 llOVz •132% 112% ;*i3o 143 \> 35 99% 52% 130 *111 'l0% 103/4 100% 110% v 133% 613/4 62% 119i/o 112% *130 r 133% *121 34% 34% *98 v 10%: f. XIOOV2 101% 53:: 111 v.-:; 101% *109 130 •: • ..'62% — "">111 mi 112% :• v 135 > *121 130 *61 % ■e- *51 10% •'X>10%: 1 6% Mar 2 2aVa Oct 30 yytj 10% 11% *101 '•> 101% 10% 10% 20 % Feb 5% .preferredv - International Silver 300 >24% ♦143% ;'• 37% Jan Jan 104 % >13% Feb 16 9 Jan > 8% • Dec IOV4 Dec 57 • - Nov !10St% Oct 12 Va Deo > 14% Deo 19% .133 Aug : !• > 38% Sep 19 Co_—;—__15 Pa^er Intern'l Tele|r • Si T«eg_lA.;—No.par 22,400 i~No par 300 f v.-. Foreign1 share ctfs;„ J i 16% • £ Jun- 174 11% Mar 5 . : Intjr Rys'of f 2,400 :: >> 22% -22% t 4i7.< '41 41%: -41% , 147-• *1433/4 *143%: 147 143% 1433/4 *' 24 Va 24% -*22% • 41% -.-.-16V4- y May May 166 Cent Am_L_;;_No par: 100 >101% Sep 11 >52% Sep. 18 International Salt; ;—No par 100 1 36 Ofct It) w'——No par 2^00 a. : Intemafciontil Shoe ; 16% .15% • * 113/4 May 59 :il2 -' 90% Dec . Corp. Mining preferred Vr-——No par $4 ; 120 45 V8 *38V'a. - - 16%" .17 243/4 .. 23% *22% *41% 23% - 24 24 24 v2 ''■■■■ : *22 %* • 41%. "•16%.: > 16% 39 38 *16% ; 22% Feb 6 4% Oct A.^100. preferred .>v>" ' ' ?440»Dee';x- ^an Feb 104% 195 ' Jan 30 > International 700 :. 57% . Interlace Iron International . V.> ;.; pn-t/ 38% v; 38 3/4 v>'£.44./.'; - Aug 44% Jun 9 10 Ve Oct 2,600 >r ? 21,800 V A 700 : Ill '•: ;.7:*54::> . vy 45% • >>16% 16% ; : 39 ->45;.-':: 39 16% 17% 58 38% : 43 % *38 39 16% •'17 •;.*16% > 24% 22% 22% *41% 144 *143% - 24%." 24% > 45%: £*37% 17% *16% 23 44% f > 17% 16% 24% 24 *22 w 44% - - . 39 ■ 110 110 58 38% 13 * 17 21 3 6 3 28 23 190 5% Dec 26 A —No par ;v-;No.par ,__1 > > : 25,800 t. Int Nickel of Canadalxaa—.No par. -''if- Preferred—-—100 {••>;» 270 103 Va 13 *109 4Va% preferred -— Rubber _ tki/P4% 50% 103% • 151% Jun 34% Deo >. -' 3 19; 35% Nov 105:' Aug Int'i ; 1,500 36% •'.•••-'49%'• .• 1 135% . , . : ill ;.;'*54v;: 38%: 39 ,=; *37% - v tValll » -58 v: *13 £ 38% 44% 44% a4% 'V 16% *54 38% - 104«;;%. *103%„ 105 .: •:• *13 13%. 13% 103% 112 *110% 58 c :,•: •:? 38 > 38 ::50% %> ■> 13 13% 751%.X , 400 5,600 . 35 5/8 50% 52 Jun 54 7'/a Sep 19 ., 38 > /19% Jan 22% Jan 18 10 92 Jan Business: Machine——-No par > 66% Nov 26 International Harvester——No par ) 1753/4 Dec 18 360 >;> Preferred * _a———100' •f 6% Oct ;10 ,>4,500 ; ; Iht Hydro-Elec .Sy^ class 'A_;—>;25' >27 1 Sep 9 Tnternattonal Min li Chentt—-5 i • 47/a 135% / 135 Va :- ' Oct \ Deo Dec ' Dec : JunV 28 May 2o 36 33% Sep ;19 it 13% Sep 100 Intercont'l 96 ;■ 135.%y>:' ,135% ' ; - 5,000 . 29 *93% 95% > id , •8% 4% > 5/9' 5 16 y8 Jan 168% Mar 22 v • . 1793/4 28% -29 %' .36% a ...35% -36% 35% • '.':'8% ' 29 95%:'/, ,..*93% 18% . / 44 84 ■ 72% Jan 4 Sep •116 • 16 28 v 11% Sep 20 36 Jan 373/4 Jan 10 ^ep 40% Deo , 4 19% Jan 99% Apr 10 < ——No par Corp Interchemical > 74 % l 74 *179% '■£: 8 V4 8% :.. 29 135 : ■ 105 *104" 14 ./ 112 *54 55% ."*37% •' 53% 104 112 113 x 55% * *37% 36% > ; *133% 52 8% 8% 28% *92 1; : n 35% 13% *111% - 135% '103% *13% - •i -90 » -'"5 ; : ' 63% Oct Jan 29% 47% •2 10 23 Inc——1 Insuranshares Ctfs 300 4,900 ' ll'/a >.:•,..• 11% 74% 179% y 6 Va 180 m 73% - 180 ■ ' £ ; 30 29% *92 73% 72% 178 . - 36% *133'% 51% 135% 51% *133% > 179 8% 5%,. 4% 35% " 8% xsi 96 35% 214 . 211%: 213 212.x 212 > Deo <9% > v 15 85 > Jan 14 Sep 14 % Oct i ' •: • 45 y3 Jan Oct 10 23 87 Rayon 1 IngersollrRand : ——No par 6 % preferred:— 100 Inland Steel Co—_———No pari Inspiration Cons Copper—— 20 1,900 V 8% .:• l,, 107% *5% : 12 Va 41% V 215 *211" - •74% : 11% 6 •• 44% Apr 23 . 48 *106 107% v. *5% , v >41 Industrial V >" ; 4,000 i" •A 47 : tJi% - 179 30% • *92. i- 96 73 '-* ' • 9 8% 9 30 *29% -*92 180 *106 •• 6%' ':' 11% 12% 't 214 72% 'k 733/8 178% > *734 50 46. > •' 3% Jan 10% Jun' 24 ; 31 Va Sep 11 i- lg'/s Oct 10 Lt—No par Mex, SA-J,:. Indianapolis Power & 2,400 .700 '•15%; 15% 16% . v; 40 , ' ... 107% , >-;• *5% 131 39% • 3 49 Va Jun 24 —1000 A Industrie Electrica De . 182 *178 40: jt. .. " il3A 2i4>: *211 72 179% 39% 45 V2 ;v *106 6 vs " 5. r 214 71 178% 6% 12%; , 45 i 106 6 h% 5% 7: n% 1,11% '*210 106 X >131 : 182 !■!■*• ;v 7 *15% 8 •' 8% *7% 8% i 453/4 45% 107 % *106 107% 5% " 130% •: 16 £ 15% 10% v: ; '• *7% 46 % 44% 44 42% *106 -16 V 8% 38% i.-:,,. 130 Va 39% > \39 40 39% 40% 15% 15% 40 va VC.:.38 *178 34 Jan ' 25 Va Oct RR Co;——,—5 Illinois Terminal ■v 400-.. 39% ctfs 'series Stk RR 1,700 {•V,:-: 12% 39 182 Dec May 45% May 17 Leased, lines 440: 3,700 29 29 v: 29% 8a/4 ><12% 129 •; 1 12% 39% :. 39% 129 8% ; 18% i •k "•>£>• 18 Va Jun 36% 19 14% Oct preferred, series. A———>100 i% ——2— 1QO .'x6% 94 17% ;;i .-•':. 9 ,• 100 48 (•■ Deo 8y4 23 V* Sep • D«P Jan —Jan 10 • Idaho Power Cp—— —20 IllinQls Central RR Co—„10O , 8,100 *12% i2%>; *178 182 »9 » :,• 29 :-i 29 28% *12% 129% *178 182 40% *39% 40 128% 129 129 182 h 40% 40 y4 v 129 > *178 9% ••■' 9% 94 18% 200 23 % ■ *90 48 *90 •„ (•'>>■ *45 * 46 .. , •18% 29v2 v 12% ' . 48 8% -223% •' 2' 17 Jan 25 54 Jan •^..gM,60<>^ ( 41 *38 X 41 , 23% "24% 94 *17% 18 30 f 29% 30 23%:.. *90 .< - : *38 39.;";;;.,; *45 - • • 94 - *17 • , 9 % x9 9% 9% 30 18 17% 46 - *90 • . 39 23% , 243/4 23% 25% 24% 24% 24% 41. *38% •; 41 *38% 41 34% 5 12% Jan 25 , * > 23% Dec July 19 11'/a Dec 27 6.66% ,,Hunt Foods InC— 2,300 ^ Sper share share 12% Jan 9 Apr 47 60 V4 Feb ; 10 Oct 5 & Manhattan $ per 30 10 Highest Lowest >; • $ per share .24% Oct 10 30% Oct 30 ,.-5 100 5% non-cum preferred.——100 Hud Bay Min & sm Ltd No par Hudson Motor Car——No par > ;;i. 2,900 ; 17,900 17% ' 27% : '14 % Oct Howe Sound Co:. 1,800 2,600 '" Hudson t Previous Year 1946 „ Highest ;; $ per share Howard Stores Corp___"_^_ 393/4 > 16% . ' a Lowest .7 ''•/.„ Par Houston Oil of .Texas v. t c„___'_25 600 : 12v8 39% 28% 6% *34% 1 $. \> exchange' , Range for Year 1946 .:// * • - 5,500 .7: v", 5% ; 5% ; ' :• > 17% 34 , •, 12'/a 28% > 28% 17% •>> 28%. :> 6% ;» 6% 6% .-40 18 17'/a 18% 28% . >1 >•■>.;. the Week '/.-..Shards , 19% 26% 19 , .13% 40 7'; 40 *25 - 5%: •> v •V $ per share ; 34% *5% <12% 13% 41 39% 41 % 17% 28% .5% *11% •: ' *34 5%' : 25%' "•,/' Jan. 10 >. ;; , , >9%>;; '..25% 35 *34 , share ..'19% 25% 25% , 12%; 12% 12% 12% *11% ,.">• $ per „ 18% > i9%; ; 5% 5% 5% 5% 5% 5vi Jan. 9 8 per share r . new york stock Sales for Friday '•'■> Jan. 8 'Jan.7 $ per share $ per share 19% *26 Thursday . Range for stocks , low and high sale prices Wednesday Tuesday 198' 50 Mar _ 47% Jan 41% Jan 19% 29 V* 84 3a v 60 Dec '■ Dec Dec Dec " Jan 36% Dec Jan 40 NOT — 42 % ~— Deo 25% Aug, 37% Dec Jan 66% Oct 15% Jan 32% Dec ,— ,— 19% Jan 50 18% Jan *32% Not Jan 190 23% Jan 31 Dec Not Mar 68 Dec 166 52 • [Volume 165 • V > '•* Number 4559 t ' *4 ' u.« ." ' i( "r • - :THE COMMERCIAL & FINANCIAL CHRONICLE - ■ . NEW YORK STOCK RECORD LOW AND *. Saturday Monday Jan. 4 Tuesday STOCKS Wednesday Jan. 7 Jan. 8 Jan. 6 $ per share HIGH .SALE PRICES Thursday Friday Jan. !) . per share $ per share $ per share per share,; : Sales for „ Jan. 10 k i NEW the Week >,' $ per share 1 . X OKA Shares 40 145 46, ,46% ■>40% ". ,14% *38 (40 *140 145 ■ •. 46% ; 108 j, 14% 145 47%' »'■■ 46% :40'/a •. . 41% -;39% *107% ..; # 38%. j38%-".v.*37.%'. . *140 '47 3/a. I 40Ve ; 108 v40%>m; ;:. 200. (.>>•> — 145 46 39%'. „ 39%, ( \ Mack Trucks Inc—; 2,300." /Macy (R H) Co ,Inc > J! __-t 19% , 14% / > .14% 14Va 14'A* 14% >42$,./;:. 510 / <1 »»425 ' V 510 £«— .. -—I . 12% *28% 13% : 30y4 ,>3%J, >■ 4. 4 '/a 7% *12 .; 7% *109 % 33 163% *34 > 35 29% >*46% ;-47% *104 i1 All » , » 50 / *104% >>28 ; > 52 i>iL29 > ""24%.. 24% V "23 23% i12 ■*: •> > 65 / ';■:. ♦105£ *07?: 105 / 37% ;-37% ^3lVil3S- *149 150 14 r v *11% • ••14 % 11% >■:'/• 11 • *9%v *104 7 v 33% * 23% *51 > *51 • 12% >12% *28% 30% "60% - *125 62 > ' v102 r >feT9%. ',193/4' V > 103 % ,105 % 65' 1 106%/ :i9. no: 38 112 > ^ 593/4 ■ -It/?^9/4 - •593/4 >9% ) 14% - ., 10 y8: 23% 22'/a • 13% 125% 125% 13 ■' 29% 29% 125 -y "" 125 ^2% .61% » . // f v >13V8 • :: 1,800 59% 6,300i 53 55 ;.■> 16 »= 22% .*'45 46 ,. 15% , 106 > • :.. f,, y, 7 ; 14% / : 39 60%, »^ 13% < 13/8 ,13 /4 ^9^ > 13% 138'% /56»> , 54 *52%-;; 55 ' f lll< I3 • 46%; i \+*°~ i 56 ' v. Saturday > Jan,4 $ per Monday > i ' . 19 MJn & -Mfg^I i—> 20V4 Oct 18" Oct 32% —— Deo *-, ■ 43 NOV 36 Deo 70% Deo 62 Jan 24 - Minn Moline Power Impl preferred——. L 100. yj. $6,501 Mission > , 105'/8 Jun * $3.25'preferred 5 common 3,600; - MoqrerMcCormack ,100 , / $2.50s .A 200 Morrell cum Lines Inc-j—10 77 <•. . „ 56 ^ ' ^ ^ v ) . Myers . (F E) ^ 51 << K v:,4;v; 9 j ^ ^ > 62'% Jan 173 30 10 119% July 60 > 19s/8 ' : Friday Sales for. ; Jan. 10 5 "! Deo 61% OOt Jan 6Ya Dec 124 Deo 37 Deo 16% Jun Jan 49% 16% Jan 23 36 Jan 25% Jan ^ -, - Deo - : 36 Deo 47% Jan 70 Deo 21 24% 17 ' ;• ••" • 1043/4 May 29 653% Dec Nov 21 > • 10 < 30% Apr >3 Deo Deo 62 Jan 29 63% Deo 61 Deo 56 Jan 15 41 64 Deo 15% Oct 10 34«A Jan Oct, 30 .'22»/4 Jun '*102 - Oct 31 13% Sep-10'' 32%Ocfc 30 >108% Jun.27 9% Oct 10 49 . \ 22 Deo Jan >18% Deo 97% Mar 109% Nov ' << 109% Jun 2 20 Jan >70 r 47% 8 553/2 Feb Deo' 2 ■> Oct Jan 9% 6 May 114% Jan ;33% Nov 21 v, Deo 32% 31% 273/2 Aug 24 . 50 .33% 23% Mar 13'" 1093/2 Feb Mar 21% Jan • May 31. > 66% May 29 Sep 18 .14% Sep: "O; ■. 16 ' 36 34 115 Jan 13 21% Deo Nov 62 Deo 63 Jun 11 Jan 48 % 15 Jan 66% Nov "* j • ■ " NEW YORK STOCK . Jun 62% • 19 135% Jun 13% Deo 7% Mar . 109% Jan 22% Jan • Sepi 19 Range for Year 1946 EXCHANGE Shares * 26% Range for Previous <" '• the Week $ per share - ?7 May 28 70 ' Apr ; 8 23% July 15 45 •' Apr 22 ' Jan. 0 $ per shdre Mar 1 . Mar 25 >64 63% Deo 13 Aug 42% Mar « May 31 173/4 Jan 24 52 160 137 5 44 • Jan Deo 36 Dec - 129 14% Nov Jan V 9 2 7% 25% AUK 36 Jan > 263/8 Mar 18 68 y4 Apr Deo Jun • July; 1 9 66 111 37 ,/ 9 >14% Dec 22 Jan 106% May 18 3A Feb 16 45% May 15 • •: 48%fiay Nov 22 ' • 33% Mar y • ; 20- 57% Dec.: 3 65%: Dec 10: ;..-19 & Bro——No par ^ • . 2- May 15 50 % . 100 • 29% N6V 67% NOV 40 Nopar . Dee 14% Mar 113% Apr 18 8% Oct. 10 20 pfd—50 ' (John), & Co_ .. c 13% .. Deo Deo 26 64% Jan 110% July 19 61'% Jun 3 111% Sep 10; ; 27 30% 12% Mar 1( 52% Apr • 43% Sep. 10 - series'A—No pair 109 Ye Nov 325% July —— Monsanto Chemical Co • 263/4Nov >6 35'/3 Jun 10 - 3<J Nov 21- 40% Apr 30 : 10 41% Deo r 1.673/4 Aug 13 ••^18'% Dec >-11 Apr 104, Sep 13% Jan 17% Jan 4" Jun 30% Apr 22 107% Aug 26 8 Oct >61 No pat- . " Thursday share Jan 10 Jan 35% Apr .... Jan. 8 $ per Dec 65 Jan 10 . Wednesday , $ per share' h :Minn , v r HIGH SALE PRICES Jan. 7 I per share 19% 19% 10 1,600,',' Motor Products Corp Nopar 1,100; Motor Wheel Corp>—; >——^—5 1,200 v> Mueller: Brass Co__^——— I : ; 1,400 ; Mullittsj Mfg Co Class," B-C——----1 ?t 5Q' 1 $7 preferred ^———'u—-Nopar • 700 Munsingwear Inc_ ——5 5,200 ,-, Murphy Co (0;C) corn-"—-j—u : 140 ; y 4%%! preferredJ _100 12,100 > Murray Corp of America-' —10 '1,300 4% " preferred-*.— -50 ;. .iU . *54 - Tuesday Jan. C share 16% 114 Sep 65% Deo 30% Jan 69 Min .Trans Montgomery Ward & CO—No par '—i Installment rets 75% paid^-—->i ' S LOW AND 1- 1 (The)I L-I—i—t 1st' preferredi-__a-^50 ^ 12,000 / , >38^,: 38% >v.-'*38%'. 39 *54 Dec 109% Nov . Jan 56'/2 Jun / 3 108% Mar 21 22- 3,400 400/ 4125 >: ,10o% 107 13%'; -13% ' 3a 39 ; a ; ' May 63% Jan 22 36 , 1,500 ,44%.' 44% ••151/*-.15%f *' 110 ' Deo 195 9 May 29 Oct t 20,a19%... 19%(22% ; 22% , - 13% 40 110 39 Dec Copper ^-^-5 lOVi Oct; jMia-Continent Petroleumi-—^—10t'31% Feb Midland Steel products-^—-No par \ 32 Nov : 20; f "i, 8%; cum 1stpreferifedi_ii—>il00 140 Octr 1,400..' Minneap & St Louis Ry nCw.No par 10% Nov 1,100^ Minn St P & SS M A vtc„.-No par f 9% Oct 1,300. Minn-Honeywell Regulator __3 > 45 Oct 2901 i i 3,20% conv opfd series A—-_I0O...»,105 % Dec; v^ 34 •"45% » „ 106 f 22% ', 22^8 J. ; «+ll/2 ,i5!/4* ' 16 107 > ;. 4I;; >; 46 > ~i 20/« 22 Nov 33% Aug 27 y4 May 27 Nov 26 22 2,500/> Miami . 59%. s60% ( * 9-,' r- fv rc'B1^8 ->17^8; > " 85. 4®/f . 203% > • . 15% *1C5% / .46 20%, 22' V 225/a 47 45% ■ 20% . L?Sw : ■ :45% 20% L—Nopar 102 —> 20 Co-1——--^ltf 3,000 - .700 : 13%t i 125 . 61% jfl/ rtYt/2- 40% 48'/2 Apr — % 59 125% ft?2% 2i% 53 47 21% 63% Deo 48 8% Jan 110 6 Apr 46 y4 .'•( : - 21% Zir 54 43 25 Co^.__-.Nopar .k.'i-8'6% Sep 4 Merck & Co Inc.——i.--— -1 54 Sep 12 $3.50 cum preferred--^—-No par ^7 Dec 20 Mesta Machine Co _5 39% Oct 9 Metropolitan Edison 3.90% pfd.100 104 Nov 26 Merch.& 90 ' 106iy-i Co^__1 Mercantile Stores Co Ltdi—-No par". 800:.. - 1,000 . —t. Mfg Shoe .Corp_i— Go 5cdnv 10% >10%l >- ; 64 05 1' t. ^l3; -II3 V. J, 59 , , 59 % v • ; 1,300 10 " (v'>* ,5,900r- - preferred: Melville -40; 1,500 [ $4 v McQuay>Norris 2,000:' > Mengei " ■ 125/4 61% 104% Sep - Apr -23 122 . •- 149*' 69-« . *60% 21% 31 10 30. 3,100: >Mead>^Corp-l-Cl^^i.^JVopar t>18%Sep 16 ' .4 % %: preferrCd-l-^-^ill->.100 103 ' Sep 18 800: y 4%; 2nd preferred^.—50 > 43% Oct 30 . 62% Oct 102 % Dec , - 60% I '61 , , ' - >51'/>V -1- 12% ♦>.• 25 y No par ; 100' Sep 19 Corp 10 28 Sep 10 I.r ™ ► <7 Ktl--;; 2,700/• ;'Mo-Kan-Texas RR>l NO par • >>5% Oct 9 '«r-'22 /4 21%. 22 % y ; : 9,500. preferred series Aru.100,' ; , 19 Oct, 10 ??,;' ■?>)'' P t'n>;^A00 (" Mohawk^ carpet: Mills^-^>L—->42De&.::2 l? /a v l2%^l>v>: 12% ;2%f. 4,300 i Mojpd Hosiery .CO InC->-i——^-1.25 "11% Dec 5 Hi ' y : >29 ;. 30%; ; • 200 MOnarcli Mach Tool —>-L_No par 28% Dec .31 22% > *49 '. 1 Co—-i—1. McLellan•'Stores ; 15 : 105 > > 1Q5 'Xtlc> 105% 33% 33% 34 34 33% >> 6% >• 6%> ' , y,: Uj -37 » 37%;' -.SB.-Se, t i, - r, 13/S, - .52 200. l,800r :45%';.45%c.yy: ■ 7%:« .19%t , 11 >. ,®5,. H ' .v.', Electric Mar 34% July 5 • Mar 71 Sep 20 McGraw-Hill Pub Co_ Nopar 23% Sep.20 Mcliityffe Porcupine Mihes———ji-5 «' 44 Sepf 19" 12,700; • - 105%; 105% w?;, .> ii% 111 - > 13% : 64% >64% , > ; . I I ' !jj% , 150 *11 .'. ' •. >> ; 108%i 65 i 65% *98%'10O'?'45,4444. 100 37% Corp preferred—,.———100 conv 22- ♦ 103 %. 105 % * . . *105% 106% .. Stores 3% % McGraw 900;' 65% *98% ",•',45 ..McCrory . 40 May 31 118 > Oct 46% t>eo 24% Jun Nov 12 V 55 Jun: 18. 111 Jan 27% Jan 223/4 Aug 176% Jan May 10 May 13 Jun Dec Jan Deo 9% Mar 18 17 11% 18% 42% Sep 21% 5 97 Sep. 19. 109 2 Apr . '1123/2 9% Oct.-25- ,,:,:42 7% Mar 15% Apr is y4 Jan May 28 38% May 29 204Vz Nov 20 70 45y» Sep 19 iu-J* 4 23 75 92*A Dec. 28 par 39% Deo 7% Deo 3% Jan 48 3/2 . .. .v,\:>49.^v. 49% >• *48% <",49%f y ^ ;.^.,25% u25%>>:» '25' 25 1.&.-Z 64 *105 65 30 > 30 61'/2 61% > *125 ;> 127 ■ v 127 , ; ,12% 104 . 44 »/8 9 7 par > lit Oct 15% Nov 32% Deo . >>■14% .. Vl7>v. 5,500. ^f'62 %' -*>. - 100% 44; McCalL Corp_^:—— Jan 45% Feb 30% Jun . -'fpf-iyvyyyy '-'vv■ :• ;■ i t.. ;..;x,uv-:M 42%-ri; > J. 42 ,: '42%L, .:,3.200:' : McKesson & Robbins Iho,.—^18 v 39% Nov ... 13% 112% 1,500,.. . 521 v, Sep t; —— ^v 200i;,':>: $3 preferred---*——N0 '.?'-'.20: -X ■'$6 1st cum preferrpd-i—No ■ 64 10% 23 • <25% 1,500 C,23ya- *97 105% ;>' Jan 11% Feb >24% Sep 20 4801"'.$3.40 oum pfd---—par Maytag Co Nopar .' >:• -r27% -...-23%.>24— V^>23% '^4 29;, ■ 29 i v i 28%- 29 / " *3.7'/2 >36"/> > -38. .i ;38 /11% • 5 52 . 105 : > »' 4 I- < ->v^3%yy.23% ; 22,%^>23 - t ' •74 .--*70 ! ,15, t ' 70%r"'70%f :1 18% >18 »/2: ^>,18%^ 18%1>^..;'( 17 %^18 %C 45% '453/2.. .—*45' , 48. ; 65 • *102 s " *67 100%; :;-,/34 <:■/s 34 >A- 23% = :4 "•; 59% ts 7 i 23% ' ; 14% *104 , , 5 74 44 • 29 -' 49 3/4- 24% ♦149 >9% v 110 33%' - • 49 : ' -ll 14 24 Jan .28 20% Jan 9 27% Oct - Dec 625 7% May 57% Apr 24 112% Mar 25 7% 104% 100 37% -'37% * 1,800 28% *;?91.100 v> 593/4 , 9% > • 40 *112 >*59%>59%; 64% : —42%. ... '243/4 . .100 ; *104 "> 12% Oct ;48 Np par 14 3 10 Sep 11 Sep 4 31 ; r—1 -— . 53' — Master, Elec Co Mathieson Alkali Wks__ 1 26'AJan 30% Nov 22 ,xl09 25% Mar Jun Nov : —4— ,7%Dec 11% Oct 17 Dec 62 110% Jan 425 Aug 15 > ,8 preferred,-^,.—2—_.100 / 195 1 Jan 8 I May Dept Stores, i-.5 >. 45% Nov 26. $3.75 preferred Nopar 103 Dec 11 . tV;:-.*1 ll%.:113S %->'.■ >29% .j —100 May Dec 46'/2 May 31 19 { ^ *47% ;(49%' : 27% preferred 1 72 8 . Nov 21 4,900 '; t 95% <" . i'.m 4%% „ Deo 165 16% Apr . 12% Oct 30 26 , 39 Jan 106% 30% May 28 17% Sep 27 526 4,000 L , 46 ''S-J47 28 ' ; 1 t l 195 *95 . 404% . >'19% ;u9'/2 *103% 105% 38% ,65 ; ; > 112 112 24 • ."52 — - ^2%' • 58' *104% :.1Q4% .38' >28% 102 >> >>'28% 45 . * 150 - 14% >v6i>>64%'' ■. •43% 15% ' ■> r A'/1 24% ■. 45 r 27% 38 .42 » • 20'/a ■, > >97 1°5% - >38% *149 : 243/2 *68-' > ; *103 A 102 • : - 64% 15% .;> 37% 42%' 102 *103'/2 - 43 V£ ! . 10 8% Oct 10: - 2,000! Martin (Glenn L) Co— -tt-I 2,000 \ Martin-Parry Corp_„_^_z_—No par 1,400Masonite : Corp^_ ; :—JV|9 par. • >&U.47%4;47%^<>vi.46%i.'47V4. . 37% 29>> 52% -52 % >">18%>!ff%'; 100% - >43% J>i$%';i5% > ^ <;>'"23%> 24 > ? 19 *97 " 29 72 64% 43% 53 19'/2 245/a 18% 100% 29 105% > 1/49: ■*■■■■ 4&25 /:'.U >->25 25'% >>■24 3/4 <72 ;■> - "96V4 .*42% 105 37% Jun >?3% Sep „ 35%t ^' 400; *187 W >:>?47%:."S49% 27%;. V *103 ' 34 * ' . \>46% X■>; " m ;/> 45 <:/'■ ■,45. *64% 27 • 110%(.. j 33-;.va '32% <>33 ,195,-; > ->46 48 s * /v/ 42'/2" 243/4 : 29% -243% 18%>T8% J 29 52% / 20% ,• ■V45 3/2 <48 38% / 1, 102 •103%/ 105 »/2 •: 49 Vi■". >49% 49% , ,20 56 36% >187, 400 157/8 .-15%: 59 : ^..V„:;31 %""' 32 .- 195 i'v/K 44 > 243/4 *■. > 110; ; > .29% 105% 49% 58 33 % *10%. f-113/4- r;;.>10%:fi 11 »■ * f, 43 % *102 / " ■ • .105 29 5.'- *187 27»/2 >37% 24 Vi * '24 '% : ♦103 29% 52'% (31 .... 38'A ft ll'/a 26 3/2 105' 58. - 104%- 104%, i^ a03%> >» 85%' '95 3% a .^>95-96%' 49'/a 29>/2 »9%>19% *103'/a ' -:....33.% *16%>17% > - "> Sugar Co——a———1 Mandel Bros Nopar Manhattan Shirt 5 . >>>; 1,100 "" Maracaibo Oil Exploration 44.^1 > 6,600> Marathon Corp y_i—i „6,25 6,800 ; Marine 'Midland Corp—.: r„5 160 < Market St Ry 6% prior pfd -100 ; ••• 7,10Q;" Marshall Field.'& Co_—4—If0 par f .32% *109% *111% 113 ./♦111 3/2 na:>vV &■>Ui%>113s 40 46%' >;> 46% (47 28% 105 niio 29 • :>>> 600 :12 33% 110% > 96'/2 M l ;33 ,l> ■35'/2/ -,*35% />'■• 45% 104% *48 > »37'/4 42%i' 42% *102 47 30 '//" . > *51 113 , 37% 30 y>: • 46 3/4 105 37% />:> ! *111% > v ; i 46 . 163/4- -J... •59 *35 >/4 > 520 *1 /> 3,700'ilanati; ; 26%(. 7%. .7%: 12%,. 11% .: 32% . ""109 Vi ;333/i„ ,-'J>33 > *29% > : V 111'/2-. ■J 7% 12% 12 3/a.. ; 333/8 i, . 7% ' 31% >32 ■ 30 *95 11 '/a 49% *11% > : ■'■; ,£ 16% > " ! 59 195 *104 99; - *48, 46 % 28 ■ 27% 1043/4 I 36 *167 433/41; >>'45% ; 95. 34 *35% > 30 A •; 30% 'A »10s/8 / 113 •<,46%: - 25% 7% *1093/4 5 '60 60» 195 /■>; /, 1043/4 94% . 50 29'% v. :>■: ■'•. 17 1 r 173/4 , 1 11 . ' 73/a • lll'/2 33% - 17%: ;; >.45% 105 -11 34, 613/2 *187 33 *109% 35V4 '35'/4 y 195 ->94%; \ ,/ 29% *187 >■ 33 lA i7--:: , 61 12'/a ! 32 t >../' •' 7% *12 . . 111% 60% , 16% 61 113 i6%#ll%'>;'5,$ 10% - :A . 73/4 32'%- 111 33 >, 121/2- .1 32 : 10% flt%», >.f • ,, 253/4 , • 13 3/2, >.> *13 i:'.,-; 13%,13 v 13 283/4' ">■ *27'/z 293/4 *27% 29 ••/'/ 29 29 4 ; / >»>3%' >41/4" 4<>.y:4 4»J4 26% '/>;•( 26 *26 3/8 26% .: 26% >•>, 283/4 >/> 4 > ' '26% 7% /12% ; *109% a. li3/4 IS'/** ■v;.,. *13 , 7% >12 30'A v 26% . f •;/ 13% *28 3/4 4 V/ : 10%' 13% li% > 11% % 12% 65 May 28 111% Apr 12 10% Sep 20 13% Dec 30 , *i_50 28% Jan 47% Jan 31 y* Jan 147 XI73/2 Nov 13 1 ... . 11%/. 11% 10 12%Sep 18 10 . , 37% Nov 22 ■■/ ■= x Highest $ per share Sper share 42% May 31 160 Jun 13 76% Jan 30 30 106% Oct Nopar ■>• , - year 1946 Lowest $ per share Sep 11 Dec 24 38% Oct -jc-100 19% . 33-. 140 . NO pat No par. 14% i'19% . .10 .*>.100 3,900 I -4 per share , >> MacAndrews i Forbes ; 6% preferred 38%. i;.; *140';. 46%.-; 46"%..46.. .. 40 3/4 145 x !; o ; par >v: 1075/8 !08,>, *107% 109 •>>>•; >107% 109 r r T 600, j 4%% pfd series A± >'>•14% i 14'/8^ >v> 14 >_ 14y,'.14., ! 14900., Madison Square ,Garden19% I 19.3/4>■;..,19%,., 19%. ; .:. T 18 ;; 18 •" < ,;V. 1,700 V Magma Copper-;— v V/:> 14'% :'/.14i/3. 143/4 >15'/4 >>>15 > 15% , , ,,15% -16 ; ..f .v /, 3,600; Magnavox Co ..(The) .*425 510 > *'>*425 v 510 > ' *425 510 >425 510 t i > Mahoning Coal RR CO—i 14% 19% ' . 40-v *137 42 *107% 19% ;■: >37% . 47% *40% 108% 14% >19 40 ;/> 145./ 46% -y 42 *107% ■ *37% ; a *137 . \ Range for Previous Range for Year 1946 Lvw«»i Hignest . ■■"' . ■ *37 *137 / STOCK EXCHANGE Lowest • . Pat $ per share, x . >Xdwest>:>>>.... Highest $ per share ■ . Year 1945 Highest $ per share I per share N > 15% > *26'% : 16% i6y« 16% >♦26% 16% --27 30 30 29% 293/4 15% 16% 14% 16 15 151/4 12% 12% 12% 121/4 >15% 15% ;*>yi2%' > 15% . 12% * 15% ->'*25>' >26 >>28% *176 " •" ' r". ' 29% T'0 ll'A ' >. >11% 11%.; 37% 37'% 20 201/4 *39 , 17% / 105»/4 *182 34% *160 > 7 163 > 26%. 85% ><19% 22% 42'/, ■>> ■ 37 . *1833/2 *159 :■ 163' >> >; > 7'/4 > >> 27'?.-/ 27 «/4 ' *7 ■ >>;• 24% 153/4 11 Ve 11% % 52% 1%> 1% 85% 853/2- 30 14% 17'/8 For footnotes 143/4 173/8 " .11% 93 25 25 l6'/8 163/8 11% page 227. 11% 94 's 104% : 163 ,V/z" ; *26 3/4 27 *52 : 26% ,24% 53 :> 1% 1%' 84 3/4 >*52% 14 3 8 141/2 *163/4 *93 3/4 ■ 2534- % 161/4' ,,11% ll'/a' 16 52 •> t>- Container—.I—;— j—1 Cylinder Gas/ Co——-1 * >V j. : ,. j'V.* if*/ Nat .;933/4 17% ' 93% 25% . ; • fc.. 17 : - /' / Nat / 800 / 26 16% 16% — / 25%i',26 f { 16 . r A4,-t6 ', ..ll%>;ii% 1,200 > : 93%> 93% a 11% j/ll.%. F7 > (— - ; Enam 6%' -140 t : n5:. >' 100 Oil Products CO--—i/-4- preferred—I'—i preferred 4%% National . .-/-4Q conv Tea Co—- : Natpmas i 100 10 : i. 4^% Co——Nojar 4. jw. Xl49 v- • Oct ;10 / 6% Nov 29 20% Oct 30 ; /".41% Sep 19 a.% Aug Sep 25% Dec 11% Nov /18% Dec 27 / 75 V' •• \ .. 32% Aug .. July 29 Apr 10 ; 1 "Apr 25 25 Jan 18 32 Jan 29 t 4 ,. • 106'A Mar 2 42'A May 10 24'/b May 27 15 Feb 19% Deo 38 Nov Jan 13 Jan 64% NOV ,26% 108 37% Deo Jun D66 24 177 ; Jan Sep Sep 199% Deo 152 167 NOV '21 Jan 35 Deo >: 83 Jan 69 Deo : 65 Apr 85% NOV 12 38 . 32% Deo Jan 37 , 10% Aug 21 41% Feb 4 30 89 -> Nov 25 21% Oct 10 41% Nov xl01% Aug 17 3 V 22 ;• . Deo 24% Jan 108% Jan 24 2% Sep Deo 20% 13 14 101 y2 July 30 12% Mar 29 173 Deo 195 9 67% Jan 207 *Deo Oct Jan ,•* >333/4 Jun 40% Apr 32% Deo x34% 13% Jan 31% Apr •45% Apr 22 34'A Jun 14 ; Deo 181% Aug 13 .;,>, V>. Jan NOV 20% 72% May 17 19 / 14% Nov .29 10% Sep ; ; 15% Nov. 21: / ,23: . - B___— 800 •" Nat Vulcanized Fibre CO.* 1,100 13% 23% Mar 24% Aug 13 383/a Dec 20 Feb. 26 /; 24 >15 & preferred National :$2 J2.200 ->-!.• Nov >45% Jan 29 . - Dairy National Dept Stores-National Distillers products . / ' 1% 1% : 16,800 • National Power & Lt ex distribution r$4% 85 v,r 84% - 85 r : ->3,000 i National Steel .'Corp-i25 *28%- 29%-v^iV 28%'iV28%W>V-:->100 ' NationaL-Sugar,Ref C,0__i—No par .14% •.. 14% -'/>-• I4%>yl4% f > 6,000"/ National Supply (The) Pa—,-—10 16% 19% 343/8 Apr 17 373/8 May 1 2053/4 Apr / 3 : Oct 9 / S " ''[L ■' ' j') %" '' ' ' ' " •"•>/ -2; ^ 's ,i, ^ ^'■ Products—_i_^.__No par :> 30 / Sep 3> 1,800 /" National Linen Service Corp new__1 1,000 Nat Mail & St'l Cast CO Nopar 26% Dec 9 Va Mar 5 ■ '173% 94 >>'*25. >>: 52 1%'»>:"/'1% }■■■:■: 85'/4 30 /•.; :>> *29 26% 53% ' 41% 20% May 28 28% Jan 29 No par, 19% Nov 22 Stamping——No par 31% Nov 25'• 9,00Q */.' National dypsum Co_^_i——£ -> 16% Oct .10 > i 30 I: $4.50 conv preferred.-4.__N0 pa* 103% Oct 28 >3 3,900 / National Lead Co.-—1'—i—-^-10 ,'-27 > Sep j' 9 380 7% preferred A——--i— 100 178 1 Dec 3 _'_a 16% Mar 16 National 3,100 200 2 r ;21% Feb .National 7,100/ r "> 37% 32% Apr ^ A 53,500 ; •• 26%' ' 3,200 35%,/ > s; 66 Sep 23 10 • 25% Deo Jan Jan 24., 14% Nov 20 : 16% Jan 35% 20 % 34% Jan . 25 . Sep « tKt '•1> I ; 19V2,;/20V4,/ $;g;: 38%'/ 3£% , • National Can Corp—— —-10 Nat Cash Registeri—^———No par 10,900 > 2,800 17%J.;..i7%%;vV> v • Airlines—————1... Aiitomotive Fibres^InC-,iW—l 25% Jan 15 >52% Jan 16 413/4 May 31 Oct 30 Oct 27 9% Nov ,22 . 31 Nov ,22 Nat City, Lines Inc_„_—'13. ■ Oct 30, 8,600 • - 'j 16%:; ',l '^>C' 13 ,1 23 1 Co ■ ^ 3,000 /'':~i;* 103% 104% f, ; 34% 35% >->■/'/ 34% 34% { ; *186.:; 188 186 / 186 y>158162 *160: < ,163 /' > ,7% 7% 7/ 7% (. , 11% 35 / > . - " • 18 20% 39 >103% ' 36% 16% ,'.:.'24%- 2423% >' 186 ' 25>/4 . *371/2 ■•?5> 185 l5'/4 17'/4 16 25'/4 see - 93% "16 ... 15 y4 17'/o > ■ ;>*7 86 '28 3/2 •. " 29,, - ■ 243/4" 104 > *1591/2 1% 29% *93 >' > 53 <■: : V ,17% 201/4' *103% > 27 ' 85% 17 3/2 15% 53 39 24% 7% *28% 94 24% 53 ; i% 26% 16% / Nat : Acme National Aviation Corp —5 ! ; 13 Vh Dec 13 400 National Battery Co__ -4 a 20% Oct 21 17,700 > National Biscuit Co common—i-10 * 25Ve Oct 10 f/, -' ^100 / " 7% • preferred^——> —-100 /180 A Nov 30 ("v^ '400's" Nat Bond & Share Corp-t—No par 22% Oct.10 12% { 3T^:'^£' 35.%- ' -100 National 5,700 2,000 . vl- National 6,300 - Corp—1—-5' NashvUle Chatt & St .Louis 3,400 ,36%; 14% ? 14% < 23 . 36 < . 35%" 36"% a;, 18"' xl9% 39 "> 35' 7% *179%. l85 " 163 *159 30% V-f.;: >23/V 37% 14% 16 ; •' 353/4- xl7% >.35 104 *103 185 ' '• '• 25% . 30 11% '%* 36% 16% gf, 24 >>"11% 37.,-. ■ 35% 19% 183 3/2 293/2 14% 94-,.,; * 3'5>/2 20% 21%; > *39 >'41'">" 24% 25' V. .: 253% % 15% *24% • T85 14% 37 :!■> 34% 85.3/2. f16% 14% 35% 34% 54'% > 1% -27% 14% : T'/b 11%' >16% > 1833/2 26% *52% / 1% 11% 37'/2 .373/4' '333/i >184 !">23 15. > 12Y#- 15% 25 30% *178 ir • 34% 34% 24 14% 20 >2 105 24 15% 15% 30 29% 14%' 11% 12% ; Nash-kelVlnator 40,400 - 27 28% ^ 29% ... 11%,. / 14'/2 V 103'/a 30 > >35 %; .36% ; >16% 16% . 37% 21 251/4 38% 38 36'% 24% 25'/a *105 35% » *39 > 42 24% 14%'/ > 19 .» 21 vV 21 '/j h. 14'/2 34 > 17 ■ 39% 155/8 *241/4 • 16%- *26 . 12> , 15% • 29% 14% :■ 16% 27 29% '177/a 185 >/•; 24% ' , >26% ' 15% 185: 24% 30 29% ; ' 24% 27 29% 30 16% . *263/4 25 293/2 *176 38'/2 •> y 25 /1 185 V> *23'% 273/4, 2, 22% Aug 15 : Jan 36 Deo 24% Deo 26% July 102% NOV 107% Deo > 10% Jan 29% Deo 10% Jan 33% Mar 14% Nov RECORD NEW YORK STOCK Range for Previous " stocks LOW AND HIGH SALE PRICES Saturday Jan. 4 Jan. 6 . t per share 21% 22% 22 17% 16% 16% 17 108 7a *106 > 34 » *32% *103% 108 108 102 *100 19 18% 18% •: ,35% 36 *92% 94% 17 ,*22% *57'X 280 104% 104% 12 42% 242% 280 242% 242% 244 122 % 120 120 12% 31% 10 10 113% *113% 9% 113% 20% 33% 10% > i- 10 197a 1007s 2174 20' 207/a 437a 44% 4374 4374 127a 12% *12% 187a 177a 18% *17% >36% 367s 3674 36% - 207a", 207a 44 44 > *117a "12 12 18 n ,18 7a 18 i 12 100 101% ' 43 - ___ 290 600 500 10574' *12 127s *42 437s i ' 2357a 237 ' *120 •; 122%- V ' 239 C ' 122%vvv - v ; .A; 280 N Y New $5 N Y N Y N Y 1,000 100 • 62 °57 *232 105 74 12 7s - V *120 $-31%. - 35 Dec 37 106 Oct 109 105% Jan 110 ' Apr 20 45 Jun 27 1097s Jun 19 697a Jan , 31 327a VioVb 50 24,900> 317a y - 207s >43 7a Aug 18% Jan 19 Sep 79 Sep 24 , 21% Opt 4 ,i 3174 Oct 17 >410 Oct Sep 110 Doc Jan 19 5 15 129 18 Aug 117» Oct 50% . Jan 258% Not >126% Not 31% Deo 15% Deo ; i Jan 9% 105% 17% Jan: 11 Deo Deo 112 Jan May 22 36 X Jan 2* % Mar Aug 118 Jan i 19% 219 16 16% Feb ! Jan >87% 3974 Apr 20 i X 1474 Aug 53 Dec Mar 102% 288% Apr Nov 20 119 Mar 18 9 223 . Jan 41 162 2874 Feb 11% Nov 22 ; Jun 38% Not > 29 not 85 Not ; 19 113 Va Mar 18 14 Dec 102 Feb Oct Deo Jun 75% 148 28% Jan 325 V Jup 28 58% 35% % 103% Jan Jun 413/4 May 28 76 May 3 9 53% Oct 275 10 135 Deo I 27% Deo Jan 32 37% Feb .16 : 1674 Dec 30 Dec 45 Mar > 21% Jan 18 Nov 88% > Xl6% Aug 353/4 Jan 16 61% May 29 ' i: Deo Nov • 47% 32 343/4 Apr, .5 5. 100 100 10 Western Ry— 8 50 26 Corp——No par . No par No par., 50 pfd—100 Corp part stk 1 Shipbldg Noblitt-Sparks Industries Oct > Sep 23 36% Oct 10 13% Oct 10 A non-cum preferred & Harlem RR CO Power & Light 3.90% 50- > Norfolk & V113 9574 Oct 29 City Omnibus Yo-rk Dock . Sep 38% ^ - ...< ,, 100 X4374 May 24 1107a May 27 30 26 : I1-19% 2074'' 20% 100% 20% 100% 108% Mar . .Adjust \% non-cum pfd 237a Oct 30. North American Co 9 7i Dec 4 97/a 10 i vVv8,100 • North American Aviation 1 111* Jan 3 "1078V, -A; io 115% > *113% 1157a if *113% 115%. ^ 10Northern Central Ry Co— -50 /16% 0«t 10 :• 19% > 19'%:' ,""•••••'• 18% 19% M ^ 10,900 % Northern Pacific Ry_——100 % >20 ' . ,'v * Northern States Power Co (Minn) 963/4 Dec 17 V100% 10074 f.A *100% 101% 1007s V 180 ;, Cum pfd $3.60 series No par > 18s/s Nov 21 ,2074 20% 118% 20 I 7.400 -Northwest Airlines Inc————10 . .44 Oct 19 '20% 4278 43 4272 427s^ « *390:" Northwestern .Telegraph—_—50 43% 9 Nov 22.: -127a 1274 /v 1274' 127a 1,400 V Norwalk Tire & Rubber No par 127a 16% Dec 13 :-*1772 ' 18% ; • >17% "187av r 400 /Norwich Pharmacai Co—---*-2.50 > 187a 32% < *113% 115% ■ 43 . 104% 237 v .122% A 32; •O .12 - 437a *120 121 *113% r 238 • 20: 20% *99% 238 10 10 % 115% 280 104% 12 % /-• ♦42 327a 3 2'/2 31% •12 7B 43 242 121 30% V 62 105%. . > 23 1774 247a 1774 *2274 • 17% A 23 f, • *232 239 122% > *57 *232 62 *104% 427a 42% ■ 104% 12 7. • *42 *17% >: 2374 > *22% *57 280 104% 11% 11% *11% *42 ' " 177a .17 v 62 *232 104% 104% - 23 7a *58 280 \ *232 232 1774 17% *22 62 Feb 18% Nov 21 —100 100 - 23 *57 65 287« Deo 103 323/4 Jan 22 * v: 94 V 17% -.17% 25 17" *22 —.-1: , v.. 43 15% Mar 109% Aug 29 30s/s Oct 10 27 \$ per share t per share f per share ; 4 Dec 106 . - , 19% 19% % 36 ——100; / 103%; 103% /i. *103% 104 X!AX;>;;tX90X;./' 3%% preferred— 108 *107 "•>108 •' 108 \"tX;X»107 109%^r:;;r>:it>40 ' New Jersey Pr & Lt Co 4% pfd.100 108% 108% ; 39%>::XXX 3,100 ;> Newmont Mining Corp— 10 40% -• >X 40 XX 40 ■■■M')}:•*.'■ 397a 40 * X. 397a 40 2974 30 ' 28% 29%- 2,400 Newport Industries > 29% 29% 30 A 29% 102 ixs. 100 100 *100 ;■ 102 Tv'• >'■' 10 54%% preferred— 100 *100 102 V *100 19 19% -J>>.;A"'< 19f 19% 2,700 '.'Newport News Ship & Dry Dock—1 . 197a 19 Va 19% J/., 18% 437a>, ,?4172 -447a 437a 437a- ' 600 f New York Air par 43 X *417a 42% r' 187s 1872 17% 187* 29,200 New York Central————No par 17% 17% 18% /•: 18% >»34 -35%" 34 • 34 500 ' N Y Chic & St Louis. Co 36 *34% 35%':,; 7 3" *34 *937a 947a ' ,94 • 94 ( 1,200 y( 6% preferred series A 95 93% .95 ^ £ijjf 103% Highest Lowest > • - 32% -."f. •103% Year 1945 - Highest V . 93%; v 1087a 32% ' - r '' •:, 102 *100 v 18% 18% . 30% 29% : 44%.,- XX 43 *35% . 40% 16% ' 19/:.- / > *42% 93 108 ,40 29% "29% ^ 103% r 39% 4." *39 33 104 Range for Year 1946 ■ . . 22% 16% *106 7a 1087a ' 1 *103 % 103% 2274 7- 17% *32% 33 *32% />■ 104 *106 A ,*106 108% *106 $ per share Friday Jan. 10 ; Thursday Jan. 8 •• 22% > " Sales for ; ' / NEW YORK STOCK f./: /'Lowest , Jan. !> ,7/ the Week v ' . . EXCHANGE :>X>X>XV I per share $ per share X> $ per share Shares V// r>;>,"*XX r Par 18 3/4 Oct 10 2274 2274 2274 22% >', / ?,100 ; ,. Nehi Corp No par 16% Dec 31 *16%-'177s ' 177s 17% ;>XXX 600 • Neisner Bros Inc ney • 1/ 104 Dec 9 *106% 1087a" *1067a 106%> Hx/:.-: 4%% conv serial preferred—100 257a Nov 8 *3274 33 •>•'■ 33 33 500 Newberry Co (J J) common.No par 103% Nov 27 ! Wednesday : $ per share $ per share a 21% *20% *16% < Tuesday Jan. 7 X Monday 1947 Monday, January 13, FINANCIAL CHRONICLE THE COMMERCIAL A > .. > ■ - 104% Nor , Deo U 57 X; not, Jan t S! 12% Jan 107% Jan 46 XX 63% 26% Mar 3 1974 May 15 25 , - Apr 8% 3 85% Jan. '■ m. 8 : 56% Jan; ■ May 23 15 Deo < 11% Doo : , Xxf >x V* 353/4 *108 7a 24 ••36 35% 21% 2274 102 ; *25 •"> 161 ; 23% *23- *21% 23% ,23% 77 102 100 . • 767a -77 •,.76% !?-. 105 *90 . .24 •■> / 24 24;/. „ ! 77/, fy-i. 100 76% 410 11%. 2,000 112 19 Jan . 29% July 1 2274 Jun 14 ■ Oil Co—.— *23 11% i 50 100 v. 77 Co_ 35 ' 49% Dec 2 •86% Oct 22 « 2.50 No par 12.50 -— Glass <180% May. > Sep 24 ; Jan t ;•: Jan t ; 34% Not 36% Dee ,=• 168 18 <• NOT DM DM 79% > Jan , | Dee . 32% X 22% Jan >74:,. Jan, 6 Apr Dec xll8% >. Jan. 155'. 7 ; 17 111% May 29 100 69% Nov 26 ;• X Jun i .X119 , Not 18% Deo X ' >23% 2 : 39% Feb Oct 10; 26 158 —.100 i Owens-Illinois 2,900 s No par — Outboard Marine & Mfg Outlet:Co >40, . 77%. v; com preferred 6% : 200 *93 ; - Elevator Otis 3,600 163%: :31 : Jan 13% If ; Jan 107 i :■ DCC ^'34% 106% Jan 51% May 22 Dec 31 25 ———10 Oppenheim Collins 900 23% ;> 29% .-.*162 v 30: 115% i i Jan > 24% Oct 112 :.x28%'. Deo 16% Aug , . *115 24% 161 . d! 87% NOT . , >■ 11% > *23%X24% ; .,*92J.» 100 77/ 77% X -77% 17,600 103%. 30% 161.. i24 % *23 v*92 X < , ;103 30% 30% 161% 300. 22% .23%. "103% ;,115% . > *23% 24% , 29% *160 1617a *115 > 21%. 21%, 80% Sep 80 1087s Jun 261 »-19% Feb 26 No par X 21 Sep 251 Oklahoma Gas & Elec 4% pfd—20 X 36 Jun ' 3 187s Nov 22 Oliver Corp No par ">>99% Oct 14 xll9% Jan H: : 4%% convertible preferred—1Q0 t 177« Jan 18 >' ,1074 Nov 23 Omnibus Corp (The) —.6 X113 Sep 11! ,120 * Feb 11 v".8% conv preferred A -.100 Ohio 9,200: 23*/j . i- 100 preferred 4.40% 100 i 111 - 23. ; ,11%;; 11%; 1157* 24 y2 : 31% 307a *160 ; -11% 11% *115 245/a 23% f: J 25 H 11%, >115% 115% .103, 102% 102% 102 ; 113/a ' : 23% 23% > Ohio Edison Co. 1,100 38% . *109% 21% J 23% 161 ' *90 93 77 ' 21'/a 22'/a 30% 30" 1637a" 93 V *213/8 233/4 115% 25 26% 30 " ; 30% *22% 21% 22% 11% '11% *115 115% *161 217a v 103 V 102, " 117a 11% '/ 237a 21% *213/8 22% 102 23% 24% 23 21% 2274 *115 23Va 110%' '24% 24 :. 24% > *109 7a 38 *109% 111'. *109 7a 110'v 110" 110 *37% 37% ;37 1107a v>i.; -■hi'- 10% Oct ■ *11% 51 •f'i' 24-V; ',..*61 v 22 '• 63/8 12-% 447a 44 6 78 - 22 *107 .„ 110 :>•■ *107 A; V v: 32 '"V V V> 123/4, .111% ; > 83 - > 107 5% •X * 317s X V- / 1 31 127a A V- 82%'. ; /> 47 ;•:> 45% 1574 14 7s s; 9 7s 313/4 / >; *30 *115% 118 21% 22-,;.' :: *115 7a 25% *49% 51% *54 56 *17 vr/v 257a 513/4 > •i'/..>*17 / 26 •>: 2674 23 23 *85 ', *22 7a * • • 110 r; 947a v. 193/4 25% *104 86 34 109 - 22 • *22 7a 237a *104 .•;> 35 ,, 110 9% $ per share ; > 143/4 "V/ 147a 15 15 617a 60% 607a 60% 407a v 107 7a 88 ■ 26% 26% *147/a *26 7a 1173/4 15 <: $ per 60 *106 vxl4 7a 143/a 233/4 24% ,*93 7a 14% ? "1474 *237» 947a 233/4 *93 95 38 74 1087a •jq 38% *105 7a *95 7a 98 "*25 *81 -*95 7a ■ >25 7a 84 58 *15% 1774 *3574 57% „• 108 7a 163/4 107 13% 14 24 24% *93 7a 40 1087a 98 25% *81 84 573/4 16 36 *118 __ 5874 16 36 '104 104 *118 947a 417a >10574 98 163/4 27 417a >40% 577a 573/4 1047a ' 13 7a 107 v 40 98 *257, *81 567a 167a *35 74 104% ■X 24 X 247a 41 •" X 407a *106 100 *24% •i 84 *81 16% 36 1047a 25% 84 567a - 417a 1087a *96 98 257a *17:.., 577a 1774 *3574 36 104% 105 273/4;. 2,000 v > 1074 *97 99 *183/4 19 10% -1074 98 103/4 *97 11 10% >1,600 13,900 •X 4174 910 577a "• »' f : : •' 11 107a 107a $1 Phila > XX- Hi 4,900 13 ya 237a 24 947a >•-':> 427a ■» 26,000 41% *10S • v ->,f: 25% *81 7 84 ;:X 557a ; 557a *96 99 1774: *35 74 104 7a 10% & series A Corp pfd Morris & Co. Ltd preferred 3.60% series preferred 4% Phillips Phoenix Hosiery "•;>'■ 36 x 200 400 250 Phillips v 57c Pillsbury $4 " 2,500 Mills 25 No par Inc preferred Pitts Coke RR —100 & Chemical Co—No par conv preferred Pitts C 10% Jones cum C & St Louis *igg 98 973/4 973/4 40 $5 19 20 19% 197a 197a' 20 20 207a 193/a 193/4 2,200 Pitts 227a 22% 22% 227a 22% 22% 22% 223/4 2274 22% 1,100 Pittsburgh Forgings Co Pitts Ft Wayne & Chic Ry 97 *22 >199 207 >200 413/4 V/t 8 4174 For footnotes > 8 see 8 page 207 227. 41 42% 8 41% *97 *1 Qh »igg *200 207 >200 42 98 8 7a *198 4174 8 *198 87a 202 4174 413/4 X' 8 98 *199 *199 205 *97 ' 413% 8 201 201 407a 77a V 10 77c Consolidation Glass Co : Pitts 3,300 Pitts Screw & Bolt No par Coal Co preferred Plate 5,000 4P/4 7% No par ,_100 No par 5 Corp preferred Petroleum v:.;.,400 • 100 1 3 100 5 100 100 Iron Philip 210 ; ■ ; , 1774 1047a Coal Read 4,900 *24 7a " , —No par preferred 33/4% 200 v . & Philco 20 ' 1087a , 1 1 100 100 10 ~.N'o par Jan Feb Dm 5% DM ; •30% Not Deo 30 21% JaQ >17% Deo 6% Mar * Oct > 84% Mar xl8 1057a Sep 11% Aug * Dec 28 19 ; Jan tit not r •24% 20% Dec 3374 Aug 14% 46 Dee 86% Not Jan 69 43% Not : July 19Y4 Jan X 21 , ' 2 5 19 9 16 24 23 19 30 " 3> 13 20 7 26 10 27 t 27 26 t per 43% 80 x48 May 63 Jan; 116% 26 Apr 41% 6 9 May 23 22 117% Jan 18 303/4 May 1 34 7 July 10 122 May 16 19 Ye Feb 5 17 47 Jan 102 Sep Jan Jun 10 Mar Jan 13 Dm 8 Previous Year 1945 Highest $ per v# per share 19% Aug 25 57 36% 115 Jan 21% Jan 25 Aug x Not 122 x Not 44% Dec 74 Sep 113 Apr 567s July 107% Sep " 14% Jan • 8 11 44% Jan 11 11 Jan 36 Dec 31 Feb 7 25 Jan 105 Sep 3 8 106 Feb 16 2674 May 8 May 157/e Feb 136 30 202 210 8 May 15 Mar 29 Feb 48% Jan 14. Jan 15 30 • < Deo 35 Deo 37% Not 108% 126 118% Aug 8% Mar Deo 59%' Jan 41 34% 15 7374 Jan Apr 19% 12% Aug Jan Oct Not 29% • 31% Mar Nov Dec 29% Jan 117 Dec 71% Jan ' 108% Deo 40 Vi X Jan , share 15% Not Jan 9% 106% Aug 27 110 Dec 108 13 28 71 Jun 105% Not Lowest 76% Jan 112 Jun 119% Not , share > 1674 Feb .38% Not Jan 92% X , Not Not Jan Jan 30% 25 Dee 46% 49 37% Mar Range for 1946 Highest Year Lowest 297s Sep 20 102% Sep 25 123 Oct 4 77a Sep 24 893A Dec , 6 1774 Nov 22 xl8% Dec 3 197 July 11 200 Nov 30 30 Sep 10 774 Dec 3 r 11 17 132 Jun 19 109V« Jun 17 43% Mar 18 109 Mar 12 X 14 Yb Apr 13 7 Apr 3574 Jan 29 3A Sep 5174 Dec 107 Dec 247a 8ep 27V« Dec 116 Dec X 11% Oct 207a Dec 89 Dec 33 V4 Sep 10472 Dec 963/4 Dec 20% Oct 84 Dec 49 Feb ' 167a Dec >> r 36% Jan 3 $ per share May 72 ;■ 49% "Dec 17% Jun 33% Dec 30% Dec 113 Apr 21% Jan 40% Jan Oct 11 >X13;> DM July 110 Dec 51% Jan 10 18 , - Oct itVs x80% *7sy4 dm 2 y4 29 V» 37% Aug 115% July 15 27% Jan 24 47Ya Feb 16 517a Dec 31 68 May 22 115 Apr 22 Oct 10 Oct 9 2874 Sep X Dec - 111 : V DM > x39% Not r. 32% 30% Jan ur<*1* **' ''l>'- •' v Range for No par com preference com 4.4% 70 4,200 • 137s X preferred Phila Electric" Co $6 Oct 16 • 106% Oct > 16% Feb V* Nov 26 14 29 •' :• XX-20 13% J»A 29% Apr 10674 Sep 4% Mar 56 J»a 57% Jun 45% Jan 21% Sep 19 X ^ 25 preferred 50 No par Phelps-Dodge Corp Philadelphia Co 6% 1,500 >>•> 86 24% Jan 81' 37% Nov 25 43 Jan 2 :'• 75 No par 1 ; & Co Inc (Chas) Pfizer -4,300 ; > 28 :>v 117 v 100 Par 110 107 27 , , 16% Mar • ■>> DM > " 1774 Sep 20 8% Deo -^r ;, EXCHANGE Pfeiffer Brewing Co '•■r ■ .y.-v' ' 8% -Jan . •,••'•• >110 Jan 12 207b Sep 24 25 Sep 24 NEW YORK STOCK Shares ' *10% Petroleum the Week *116 *116 „ '/> ; 100 preferred Corp of America 35% Aug 227« Jun 28% Feb 25 No par Co 2nd 474% Sales for 947a X *94 / >95 7a 106 v. 27 117 117: >. 14 > 133/4 > 95 58 X *116 24 10574 28 27% > 107 > 27 267a 13 5/a 233/4 *94 *115 X v 2772 11774 - 1,700 : ; X 587a 417a *103 277s *116 277a 25 7a 57% 267s 117 98 36 36% 27 7a 117 267a 84 *81 104 104 *118 40% *105 74 26 *57 7a 277a 2774 9%: 14% > 1474 58 ., X Apr 7% Jan 48% May , 2 674 Oct 30 100 preferred Milk '• ii 100 5 % Pet -jp-/ share ; 'Xi'57% 57 11774 ?';- Jan. 10 : 15 > 147« *59 413/4 *117 108 t per share 59 567a *2678 2774 *117 200 XVFriday Jan. 9 •X 100 prior preferred v 12% Dec ■ 5% '82 64% Sep 12 40Va Nov 22 -33 %c Co Marquette Ry Co—*,,. Pere 700 34 .• ' 407a 107 HX Pepsi-Cola 39% July 10 Nov 21 3% Sep 19 - _No par Corp„ ' 3 26 Oct 9 12 Oct 10 11% Dec 31 • May 110 35% Jan 7 — :!;• vvix. STOCKS X: 573/4 • 267a - 300 *105 Thursday 41% 106 7, X '* 87 XX, 9 2774 Oct : 100 preferred .No par Penn Power & Light Co 50 Pennsylvania RR 10 Pennsylvania Salt Mfg Co—, 5 Peoples Drug Stores Inc_^ 100 Peoples G L & Coke (Chic),, 100 Peoria & Eastern Ry Co PRICES 577a 27 600 108 87 >' 93/4 40 3/4 1077a 223/4 18,300 *32 ;; 587a 107 :v 27 227z 33% / 108 42 AX 26% 1077a ' ' :• 95 - 58 58 100 > 108 41' > 41 ; 58 400 X X 26 7a 110 >■: "59 ' 4974 *173/a t per share 15 X 26,100 x >■ Jan. 8 ;> ; > 8,800 - X > 800 95% 18%Vx T >v 200 . Sand Glass Penn - Co >90% Apr 52 ' 10 Coal & Coke Corp Penn-Dixie Cement 100 ;:> 54 :> 19 Wednesday ; Penn Sep 10 105% Oct 24 1 — Apr 14% Jan 56 _No par Corp. 111 474 Dec 13 Jtopar Penney Dec 100 Utah Penick & Ford 8 8 373/4 Jan 5% 49 74 9574 *9 7a HIGH SALE $ per share 31% ' X. 54 56 223/4 ♦105 Jan. 7 ■ ' 1,900 9% XXX: .■»'X-;> 1,800 ' Tilford Inc__ (J C) Co 3,600 x;, Fenn-Central Airlines 7,200 • 16 7i JM» 9 22 30 10 25 1 11 30 29 21 13 17 29 56% Apr * Jun 175 Aug >x io 32% DM ~0 10 2074 Apr • Oct 10 13 .. x. 21 *30 26%, *103 v <['>■+ 1472 5 9 X 21.X 50 *32 7a 62 143/4 *60 '•> 4.300 < 46% 467i 133A , 217a 2274 X 9%; AND 1 -500 500 • Jan ; > 160% M 5 27 46 lS%'; 22 100 —1 1 conv & 34% Apr X12% Feb Consolidated Mines—1 Parke Davis & Co Jio par Parker Rust Proof Co 2.50 > Parmelee, Transportation—No par Patino Mines & Enterprises 5 1,900 * 12% V X 84 >• >83% ' : > • 25% *84' Jan. 6 $ per share > Tuesday vL>; 463/4 " i 14% 93/», ,;• 4% 21 Oct 10 -11% Dec 2 X 18% Nov —No par Inc— Oct 30 W5% -1 Prod & Ref Cos Paraffine Park 2,800 21% 33% 9% 127a 26% 109 *105 f., 13% 2574 *1574 • Dec 5 - —.—-.100 preferred 4% Park 2,100 • ,i '31 137, 2174 85 33% 109 V 17 23% XAVX.40% *307a ; 53,400 3% X -42 y J- . 25% *54 ; : ■X 95 Dec 30 16 2 164 Vv ' ; Not DM Hot xi0% Got >.42 • Jan 48: 14 24 13 2% Dec 31 181% July 17 11% Feb 26 160% Jun • preferred /Paramount Pictures Inc X 1,200 ■ 21% *49 27%: 85 • Vv- LOW Jan. 4 • 300 *116 > Monday Saturday • X. 25% : 947a »■ 26% x 53 37/a - 116 5.,; 56 17 • :: "> -■v > 84 > Apr ; > 89% 24% Jan 17 67% Jun -48 122% Oct 30 No par Pan American Airways Corp__^2% Pan-Amer Petrol & Transp ~5 Panhandle East Pipe Line—No par Panhandle 9,600- -. 217a 51% •':. i 313/4 *30 * 26 94 7a . 1974 277a 9% ' 5178 94% 217s : 30 *54 56 , 118 iv 21% , 513/4 V 86 9% 9% 30 110 *105 ; 257a 86 *33% V : 26 *105 • 34 :*105 :>■ *54 957a *94 , 97a 22% 313/4 1474 97* 217a ••• 31 ;x 123/4 12% '•/ 22 - 60 28 7a > 28 , 13% / 137s 46 % 15% , . 4,100; : ( O *71.. „* 73% *107 X 110 : PP! 51% v 367s Oct 10 28% Oct 28 - Packard Motor Car 'IOO > 107 SVe - XX- 29% ' 827a , •:r 9;- V': 8s/s 42% VX- X X *106 X.; ,'4 < , 19,300 • 15% > 4374 - y' :■ 57,000 ;>vX;a2%.fl2%>;; Ui *14% >7 4% 41% 42% 31; V" 21,% •: a fc-P-i 614.. -6%* 51 137a V; 85/a 25% ,7!; 110 28% 123/a 7s, .12; 83.. 1574 15% 21% ' >47% Jun 84% Sep 24 • Mar 18 48 - Dec 20 24 > nv* dm 23 y* Not . 11% Jan 45% Mar 24 Jan 25 % July ; 12% Dec 24 X 49 Nov 23 > 13% Jan 22 11 86% Mar 19 19% Jan 10 a , ' .1 5% ^ *21% ^ 22% . 4 42% •- 217/a 21% 164 6lA *107 . 4% *8% 118 V , '44.;, 43% 73% X74 *21% *30 . 5% x. 15 13 7s 47;/>• 46 . *11572 - >127a ./ *104% V52W; si; 30% V/C;i3% 11% 15%,; > A 6% '15 V 110. r 42 13 6%' '••;:• ,12% X. 6%X 4 42:/:?, 30%. /v ■ i A .30 ' 4% 5; •>/> > 47a >V.V 41% 83 *82 453/4-. 46% ♦162 , 227a ' 62'/4 . 30 A125% 127% >>2%^;2% .... v 574 75 30 12%; . . 2 % .:, *213/4 V 106; 52 42% •'.'•■ 164 *57a X : 44 / . 75 5P/4 . X 125 *2 7a 167a :5% :> : 313/4 113/a •» V 51.7a 4 ■ V 423/a 32 67a .317. ' 30. 1247a 6% : 43 7i 78% *107 V • 106 rv 31% .53% 4 *15 53% 31% ■i., *62 ,• 5 ^—10 Co Coast Pacific > : 1st. » x2nd 160 25% .41%'42% . 62 X *163 ;/12% >13% 44% % 106 *74 v/ 110 - . v" 22 t 67a / 16% 106 V ; ; /13 y8 ;•■>!/;/v.6%: 78% 22 62 53/4 5% >i : 67/a .v*44 /> .. : 6% *74 . •> 108 v>/"V; 427, 42 : ;29% 27a: 165 : ; *163; • ./• ? 123% 2% ' 574 \ 30 124 y2 27a 672 ; 12% *106 •/-;•> 124% >:,* 15;. >7 j 16% •"'•>«:. *15 »: 62. 30 .25 25 0 '.ty-N, 1. !• '4:$ 6% 12s/a , " 417a *61% ; :: 164 57a 23 ; . 311; ri233/4 27a U 164 57a *22 : 427a 62- 24% 25 • preferred pon-cum No par < preferred, non-cum—No par 1 Pacific Gas & Electric —-23 7,600 > Pacific Lighting Corp 700 No par •' pacific Mills —No-par 1,400 340 /pacific Telep & Teleg —100 : 8,000 x> Rights —; ...100 m- > > 6 % preferred ; Pacific Tin Consol'd Corp— 1 1,800 400 t Pacific Western Oil Corp 10 . / 42% *24% v 25 2% ■V>// *57a ■: ,,51;t>: -30% •v,164 V/I65 >i " : 15% *48 -V ■ 51; v.r • *24 v427a 617a 127% 2% - . 31 *12672 a ' 62 *30 t *48 4: / 423/4 42% 5 ,v,. 24 • . 15% / v-v *14 Pacific Amer Fisheries Inc ; > 800 11% " 11% 11% -11% 157a : ..:*U%...:.15.% X *1474 ,*48 ,x 51; x: 50% ,:50% >11% •>..*: *14 t» r i57a 51 V *11% 12 > .*143/8 ' 11% 106 Feb Bep Deo Deo 85% Jan 20% Deo 2374 Not 15% Jan 25% Deo : Tan 39% Deo 6% Jan 190 20574 July • 4474 Deo 12% Doe Volume 165 4 Number 4559 : \ Ssiturday jJin. 4 *100 •14% 205 19% *13% , - •105 *195 : .19% 19% *13V4 22% •22 I*-" 19'/a 22% v, *16% 17% :'y,' 16% l-16% ' 13% 13% 39% 7 39% *63 101% 38% 38% 22'/2' 38% 4 38'/a 119 ',119% 119%' 128% 128'/2 "V128 ♦113* ,113% 1 53% 53% . *113 107% 108r/a 113% 113%'; . V 23% •107 . 109% 34% 34% 31 38'% 23%: 22% 129% 131 7 . 16% 23y$ , 14; 23% , 109'/4 " (34% 64% 37 Ya 23% 108 108% 114% • : 114% 23% 27% NOT 115% Deo Deo 138 1 NOT 121% 121% 130% 113% 113% 54% 55 126 130 '557- 23% 33% 30'/a 100'/a 37% 109'/4 v 65'/8 30 ♦96% 130% 114 23% ' *107 - • 120 *113 1 V 114'/41 ,"',7*113 54% 55. 54% 16% .13% 13% 40% '40% 114% 129% 22% * 23'% 109 - 107'/4 ■ , ; 38VB 114'/4 '. ,113% 121 ,717 119'/4 22% 7 30% 22% 108% 14 22% 100 37% 19% .*13% 65 30y« *95 % ; 113% rV:;' -*107 ,34 , 40 *, 64% 65 100% ,120 ,129% '* 109 4 109 35 35 22%. 16% 107% ; 114% .f '. 54%. -54% 23% 24% ; 23% '.V,.:. 22%' : *15% 205 1*18% »•, 40 22% 108% 113% 14 22% 40% 30 , 113% 19'/a ,vy;'22%7 13% »95% 38% 23'/a 119 19Vb 1 71 15 *195 i4%:'.^;V 13y4 64'/4 , *70 15y2 7'16%/;11:. 16% *39% • - 11 63 70% ' - 125 63 205 ; 16ys 100% 22% 1 11 *100 7 13% vl. ■ • > *40%: :x •95 22% 108'/a *14% 63* 64 29% ?,■ 31 % , 31% *94% < -•39 64 31 V 13% 14 22% 22% *22% ' 70% *195 - 7 Jan.9 t per share io% 63• *14V2 • 19% N *13'A ,7. ;22y4 22% . 15% 205 Thursday \ • 125 - 63 '72%'A,V' 14% 14 22% • 100 64% 71% ' 19% 1 . 22 %> 22'/8 *22% 205 io% . 125 7 I per sAare ,. u% , 64% • PRICES Wednesday - -Jan. 8 sP.y!v iftare *100 , 14 Jan. 7 7. per 125 "7 63Va ' 64%,/• V' 71 "v 71% 15v« 15 y4 15% *195 » # n' •100 63% -70% 70% . . ; t nvs.v., 11% 125 , Tuesday7 t per sharer. 11% i •62% LOW AND HIGH BALE " Jan; 6 $ per share 7> 11% NEW YORK STOCK RECORD ,< v Monday THE eOMMERemii ft FINANCIAL CHRONICLE 23 X148% 118 68% 24% .23% -108% 108% 33% 34. 34 . ' 9% 80 . **77 , ;• 14 '12% Deo 35 *43 ' 108% 13% 13% 27 16% . 17 *103% 14% 98 •26% 37% •16 108% 7 47 37% 17% : - 20%' V 20% 47 *94 95 ly 95 77 *25% ' 26% ( 7 16% 80' : 16 17 16% *77%. 80 J . $ 37% 7,37% f.3Tw 101% 101% Z6%~ 27 i. ' . 37 -.! 38% *77 15%• Jan 23% 20% " 20% *37% 7; 25% Aug 13 , 37 i • *16 *103% : 104% 22% - .*44 19% Feb 20 Not 14% *1047/a I 34% 36% % 36%; ; 79 -13% " ■ ■ Oct 9% » 7 *78% 1114% 14% *104% 104% 4 35 7 35 f 23% 23% { 10; Jan Deo 112% Not 28 Quaker state Oil Ref:: Corp Not 737%; •101% 103% •26 ; 26% v ~ 9% 9% i"* 7% 7 .7'/a * 14% .8% 7 91/# 7" "6% 14% • 28 : '7 28% 7:110% 110% *110% • : 22% 23% 105 : 105 36% *120 112 V* 22% 23 Vb 105 y4 -7735% 122 *i4y8. .... 105'/4 . 37'/4 7 714%* 14% •27Vb!*. 28% .' *120 36% 120 :\' 14% 77-43",:,; 43'/4 7*47,7 49 «, ,101% 101% * 22' 22% 14% 14%* 28% 7 28% '77; 8%7 $ 23 8% 23'/a , 2i 59 7 59 y8 7 Friday v Jaa 10> 7 i per share Range for Previous Yean-1845' v/'l -s-ts Lowest S per share 53% 10'4 53% 7 Xj 29% 297/a 22'/a 22% *54 10% 51% , 26% r 8 * 8 38% 8'/4M ' ' 38% 39 12% 8% . 8%".;v> *'7% 13 13% 14 37% 8- '* 38% 37% 38 12% 13 17 7 7-7 13% 13% 14%7; 14% 1 :i77l 14% i 15% •108 ,111 < 109 12% 13% 7 12% 7 S' 13% .13% * ^ 110 23% 23% ! ' ,23%. ll *109 23% 7 23% , 18% „ 23% , . ^ . "23 ,233/4; .,732% :, 32%, 7.^i :32.7:...32%7«;.-: ;31% 732% ,1,-1 32.'.7 .32% 33% 33% : r ,33% : 33% * 7; 32% •32% 77;7 32 7 32 *78 * 81 *79 81 ',-.81' 81 " *80 81% 20% 20% v j 20% 20% , 7 20% 1 20% " 20% -20% ,7 84- 1 84 :y/7 *80 7 84 1 ; " *80 : 84 11" 7: 83 83 ,*7307'7.30%"VI 129%1 29% 1 ' 29% 30 ; ' 29% 29% 8% 9% ; «. * 8% 9 8% 8% 6% :'.19% 7 6% 7 6% ; ,11 6%'. 6% ; .r,: 6% 6'/4 ? " .6'/a 6'/4 40%, . • 49% 40% 49%V 15% 16 y8: 7 7.39% ;,7.49% 41; : 1 39% : 38% 39% .7750 17T1';"»49" 1 50 16% 116% -V, 7:16% 16% 72y4 72% 7 72< 1 12 ,v- 71.71%' *71%' 17 1 17 17> -1117% : 17% 7;7.7 17% 17% *17% 18'/4 22% 22% : M. .122% 22% *22% 23 -41. 23 23 \ 50% 52 , ) ,51% 52 7; ;, 7 *50% 51% 17 51% 51% •1 37% 37%1'V ;7 37% 38' 77 37% 37% 37% 37% *101 ,;i03 V"?X! 101% 101% C *101 101% 101, 7101 . 35 f 35% :7l-; *34:n; 34% t:1. *34 34% 1;1: *34% 34% 7. 72% . ,7716'/a J 72 ■:} . 39 , 49% 16% ;7 *49 7 .. , *37 37% : •• *34 102'/a * 35 % : 15 1',. : 15% 4% 8% 52 ' 22 22% 55 55 ♦167% 173 •34 .26 441/2 46% 47% 49% •73% 74% *77% 18% see 80 18% page 227. 15% 4% 7: .>4% 8% 8% ♦51 y4 22 ♦170 i 34 147/a 15'/a 4%' 7 4% , 52 v 8% 8% *51 y4 22% 54% V 34% . 26 For footnotes 147/a 4% 8% •51% ;• - 55 22 54% 174 169 34% - 7 34 14% "};7'1 4% I*.;' 8% 52 ; ~ 55 1 34% 24% 45% 44 44% 73% *77% 18 y4 49 46% *73'/a 73% 80 18% - ' 55 170% 34'% 25% 44 Va 44% 47 *73ya 47% 19% • . 46% 80 18% 55 170 7 25% 1 74 *77% 22 34 25 % 44% .47 8% 52 22 . 170 26 4% 52 22 25% 15'/a 74 *77'/4 ' 80 19% 20 - 112% • 10% ~ 10% 1 45'/a .1 46 '/4 V *46% 100 97% „ *13% 14 11 15% 7,, 15 1 15y« 110% 7 7 *10S > 110 '• 14% k • 118% 97 . 13% 1 13% , *101 • *47• 473^ 100 100 . 7 22% 112% 10% 97 27% 22'/a 49 % "*46%7,48%,' 26% 26'% V,' 1 8%7 78% " 37% 137%; 13%7 13% , . 10% 10 26%' 22%. 112% 48 % 7 52 9% 27% 112 - 51% .10. 22% , . - ,49 • V 12%. • 96% 19% ^25% *7'/4 - 52% 9% 27 ,: 100'/a ; ^19% 38 ■ 50 Vb . 100% ^96 <7 51% 10% 30% 29% , U.IOV* ta.,50% £*47 i.48 10% i ♦112% 113'/4 .J 55 53% 54% 52% 53 9% 10y8 9% 9% ,27% 29% ' ' "25% 27%: 22%7 23 77.7';, 22% - 22% 22y4 22% *112'/4 113% ; *112% 113y4 112V» 113% 10% 10% -10% 10%. 10% 10% ,7 47% 51% 7 47% 50% I48 % 49 % ' *4749%, : ,49% 49% : 17 *47! 49 -r 100% iooy4 7*100 100% 100 100 7 96 % 96% 96% 96% *96% 97 19% 19% 77 18 , 19%,7„ v • 18 18% ; 48% 48%i 11 45% 47%-, \ *46 '46 -» 26%: 26% ~ ;26% 26%! 26 • V 26I/4 10% 48 * . 100 97% 7 1 17%; 18% 46 Va 47 25% 26% " 1 8% 1 8% 71 -37 -37%71 . 13% 7 13% 13% 13% ;14 »4-1 15 ' 109 7:. 109 " ; • : Hlgheat t per share 1947 Monday, Jatiuary 13, STOCK RECORD NEW YORK ' ... 13 13 *93% 95 53% 54 20% 21 1 15% 16 • '■ *85% 'v 18% 45'/a . 87 *18 ? ; ' *44 110 117% ; '56 56 45 y4 *44'A *47% *102 18% 24 " 453/4 . . ■ , 14 y4 47% : 103 17% 5i7:%>: • 47%-' 47% *102-'A 103 23% 21%- ' 1 . ,,, 18% A 18 17% 18 A 23 v 23% 21 ' 21' : 18% *21 21% : 17.17% • >:: 47% 47% •103 103 is 2% -21% 22% 21% . • A 15%: 15%,. . 20% 22% > 20% 21% 21%' 21% 21% A// 21% 22% A 14% 14% 14% 14% 14% 14% 14% /'Av 14% 14% ,£ •107 108% *107% 108ya *107% ioey2 108% *107 108% 72% " 72% 7 y: 73" r 73,. Aw , *72% A73/AA 72 A A - 72% 72%"*118% 119; *117% 119 ' - , "*118 " 118% 119 >.,;•> 119 119 : ,8% 8% 8% 8% 8% 8% 8% i 8% V 8 % • 44 : 44 y8 .43% 43% !43 43% A 44% AAV'44% 44'AA ; 12% 133 aAA> 12% '1-2% a/A ,'12% .12% ; 12% ; " 12% 13, A" A 21 : ' 22 ^21 21 : :-.,21 '.,.2l,'A;;> 21% A 21%' 21%: 15% 21% - 13% *21 21% *21 !A *15% 99% !. 32% 34% 32% 34% 109 >107 1Q9 *107% 109 115% 117% 115% 116 *115 '■• 116 •- • 56 y8. 57 56 Vb 57% 57 " 57% \ 41%' 41% 41% 41%. -41% 41% 69'A 70 A ' 69%, 70'A . 70 70% 24 % 24% 24% 24%- -- 24% 25% *101% 102 / V: 102 ; 102 ••>:• *102% 103% / 13% .13% ;< ■> 13% -13% - , 13% . 13% > A 45% 45% 45% 45% 45% 45% 39% 41 *39% 41% *39% 42". v; *39 42 : >17 18 ' *17 18 '■ 'A->47% 48 ' ; 47% 48% *102 103 v *102y8 103 18 18%,;/ 18% 18% 23% 24% , 23y2 24%,?. *17% . 99 * '• 34% %'109% ; 41 *40 f: 13% ; 110% '37% K 110% uq%:' a no% \'. -36% ,;-37%'-:;v' • 37% '•>' -*99' 99% A *99 : ' 37% 32% 41% 69% *45y4 / 13% .'>42' t 111a, 99 •' 24% iqi'/a 101% A " 13%. 37% 99 24% ... 86% 18 , 37 41% ; 69 41% 41% I 68% "69 ; '■''*24%,; 24% •;/" ! ^100% 103 / ; 18V* 44"... 18% 110% 33% 34%, *109- 111-. 116%,' 118y4 , 56Va 56% 34% 34% 87' 44 21% f 21% 21% 15%.15% 15%--', BHV*> -V* 86% '86% 1 18% 17% 17% 44 ••'.•••' <.»42 /<■ 42%Av 21% lflt-,'"Vj-'!.'!15% 86 V 45% 37 99 l' 99y4 117% • no-'A no'A ' - ; ; v .21% 21% '•15%' J 18% 18 : .7 -*44 — * 54% 15% • 16% 'V'85'%. 86 A/ noy2 36% 36% v»107ya 14 *93%, ' *109 *99 5% * 54 . ' r 55% 21 y3 21% ; ' . t per share / ,'. $ per share 6 ' ' I .5% 5% 5% 5% 14%" •' *13% 14 *13% i '14 '» • 93* *93%, 95 —>93% ^95-Vl 55 %!- V' - 53%" 54%- -'A 52% 52% ?• share $ per 95 A, *93% - ; ; Jan. 7, rL • ./,. s f S per share : 5% 6 13% 13% 5% 5% " Wednesday A .Thursday ' Jan. ft, -,,, \ f - *♦ ; Jan. IK ./ Tuesday v ■ 6 "rv ;; Jan. Jan. 4 A-. f per share >. ■ PRICES HIGH SALE LOW AND Monday '•* Saturday * '.-/A- 15%' 153/4 > 15% :. 16^ _ • . 15%" 15% - . . *107 ? - 71% -• - ; *118% * " %■ 8 » 44% 12% ' , 2l% • '•■■■ 21%- 21% ; A- 45 ! " • "• 45 45 AA, *15% /.A1 16 16 Av35% 34% AAA 34% 34% A 26%: 26 % ; : A 26 % A 26 % A :. 24% 247/a - • > 24%25% Ah *102%; 103% , ./ *102% 103% ; m 8 ';A A 8Y& 8% A 16 *15 34% 26 % ".- 21%;, 22.. 45; >21% 46% *45% « . *103% 107%;,105 . . 106%F% -21% 21V4 22 22 *44'/2 45%..,. A 45% . 45% • 16% > r'>15% 16 *15JA 16 A36% v. ; 35% 36%, 36%/, 36%, . 26% 26% 26% 26% 26% 25% ' *24% 24%. 24% 25 >A 104 A '/; 102% 103%. A/.*102% '104 > / 8% 8y« a% ; sya e% 107%:: •102% 107% A *101% f ■ 21% 106% *101% 24% *102% 8 12% 7 12% 7, *16% ■A 52% 24% -A 52%. -"'24 ' i7y»M7% 24 17%. 17% v 15% 56%- 17% 12% , 57 17% • 12% 56 •; 55%, : , 18 A" 12% 13%. A 18% is y„ 18% ;>;i& i *15% 52% 52% 103% 103% 16 57 *56% " 13% 18% 12%- J7% >57%; *16% 17 y8 12 % 13 v J-- 54- :/ 103 - -- 18% A, , 2,300 500 :6,500 3,600 • -2,000 v . ♦ioay4 103% ' 30% Jan 103% ,19 46% 45 V2 , 14% '-14%, > 20% ; 7 A.;'":' 6% A 7 *10911© A; >109% 18% • ;:A ' 50 : 36 13%: Jan 29 14 : 48% 13% " 13% 49 , ■>4ft;/ i 13%..14.: f 13% 48%.. 48 14 -*13% ' LOW AND HIGH -, - ; , •' S f per share " A . I per share - per ( Friday Jan. 10 $ per share Thursday A ../ />. Jan. .9,^5;^: Wednesday. Jan. 8 > > • .*> Jan. 7;' 1 - ,500 1,300 . share Sales for ; the Week < f 15% A 28% 29% fAV. 95% 97 ; , 15 V8 *104 113V4- 114 112 *113% ; *104 21% 14% Jan 36% Jan 29 r Shares A: 36 19 18% Lowest J per share A 24% ♦43% 43% *43 76 77 *75 29% 7% 3% 3% "49% A! 49% 9% *8% *13% 3% 49% 9% 95% *93 95 *93 14 A 14 237/a 15% 15%, *106 ; 14% 14% 14% 11% 11% ny8 19 19 19 *105 *104%, 107 y4" 42 u 89 9% 109/ 14% 11% 19% 107 . ' 14% < 15 14% 24%, 15% 110 *107% 110 " 14% 10% 19 7 107' . 13% 13% 13% 13% 10% 11% 19 Va ioy2 10% 10%- 18% 18% 18% .,.. 105 k16 105 ' , .16ya imr 91% 90% 90% 10% 10 10 Va 45 y4 For 94 45% *188 . *33% ,192, 33% "*92% 94 45% ' 46 *44% 46 footnotes see page 227. " 13% 94 5 Nov 50% Nor 14% Jun 88% Jun A 17% Dec / 52% Deo Jan 47% : 48 24 10, 33% Deo Dec Dec Dec / ; ' Jan 13% Jan 24 *' 90 192' .36 / 13 / 9% Jan 66 Jan 10% May - 14% *107 . 15% 33% 38% Dec 120 > Dec 62% Dec Mar 7 ; 40 ; Jan A , % 82 / 38% 48 46% '24 15% *92 Jan Feb7% July 42 " *40% 91 : 10% *187% Sep 1% Jan 9s/a . > Aug * 33% : 15% 107 : 26% 8% 8% *107<110 19 25 22 ya 51 50 49% 24% *105 151 No? A, 112% Dec > 45% Not . 24 Va 47% ■ 27% Dec Jan • 24% - 89% 34 107 ' Jan 100% Jan 29 Aug 3iy8 3% *14% ■" 192 *105% 20% 109% 104 7% 83 3% ioy8 *33 ; i 66 15% *187 132 130% 19% :24 90% *14% *92 83 ' 7% 50 9% .A 37% 18% Jan :: 31 *80% *40% 42 24% *0' *28. 3% 22 44% 76%' 76y4 t , A 100% 100 > 21% 14% 49%, 24% 15% 15% *106 - 49% A 78 106 Va 24% 29% 7% 95 48% *23% 3%. 44 *14% 42" 109 *80% , " / 44% 14%. 43 48%* 71/4 106. 36% Deo 116 {, 114 A 112 '107%; 107%' 108 *107 18%: 18% 22% 131 A 130 ' 36 y8 >23% 25" *93 f 49 *42 29% 83 A 9% 106% 43% *75% 7%: 3% 49% : . A 99% 22 108% *106 19% 23% ... ;129% 130 "112 * Ocfe 102% -95% ♦113 *104' 113'A '. ♦99 22% *35% 18% *104 93% 96% 96 >113- 99% X22% 36-, 36 ./ 112 • >'99% 108% *105% -106 *80% 83 , 25% 43% 76 /•/' *104 112 99% 22% 22% 131% 131% 29% 7% 7% *80% r *28 29% 19% - A 95% 113% 95 29 26% 78% Jan 15:' 28% *113 *97% 107 *106 24% 24% *104 t per share - , 111% July 1'4% 29 28% 30% A, 36 36 A >18% 107 *106 , 105%" 22 Va ; 96% 113% 22%. 133% 105% 4105% 108 35% !■ 15% 28% frevltos A; ' V --A-':' ' Highest Year 1945 Year 1946 A A/A/4' Highest;/, tper shake$ per share Range for Lowest; 68% Jan ; "A 95% 113% 35% Dee < . •14% Jan 55% "• A 14%, 99%: 130 22 127% 127% 113% 112 . *97% 99% *97 55 54 A 53% • 9% Dec . A *' I 4% Jan " ' ' 31 Range for SALE PRICES ' > Jan. 6 9 per share* $ per share Tuesday AAA* A Monday Jan. 4 19% Dec , V» Apr 20 . • Saturday .-Jan 29 24 l . Jan 45 " July A. 66% Nor 106% Oct A/ulW ♦ ■>J4%.>14%AA4/*14%'A14%-A : " 1,000, 47% ' 47% 14 v£ A 47 AAA; u. / A. > 18% Dec 17% Dec , A; 64% Dec A 15% Mar '■ . 110 t. .>14 14 .; 14 v i 13 ' 41% Not AJan > 61% Jun 16% Jan ;A 25 Dec 112 Feb .20, iv 101Sep .v 107% No? A 26% JuA 14i/:( > /'A -a' .V*.'_ 66 y4 Jan 15 A,750 % Apr>;li\ 66" - Oct 21% May 20 : 40 - Mar A 23. £ Deo :,71, Jan " 9 /<-26Jan AAA' 79-- "-Dec A 33% Feb 7/> U8% Jan . 33 Dec 12% Jan 29 5 Jan . • 10% Dee Mar 8 ; ;103 Jan 112% Dec 22 % May 28 * f] 1Q % Mar Aj A' 17 Dec v 63% May 11 >26% Mar A>A 45% Dec •79 May 11 34% Mar 56 Dec ',106% Jan 10 102 May. t 100% Jan A 24 Afc>r 30 A / 9% Jan l>,' -'.16-i'-Dec ; 71% Apr 30 :AA42 ' Oct >« 52% Dec 68 - . .47 .. *101/ in©; *101 '' *43% —— > 8% Apr 16 AA.9% Mar 70 Feb 16 ' 53% July 20 y2 Jun . 7 v A10 % Aug 17% Feb A18% Nov 30 21% May 14 i , 35% .34% . 47 61% July 26 30 y4 May 9 A' 69% Jun 18 / A 112% Jun 12? ; 17200 53% f i -1,400 - *103% 103% c -> iso , 18% /18 y4 18%' 37% *44 16% *15% 7y4 109 21%' 20% 21 16% 16% 65. >18 3,900 6% 6% 2,500 ..*37..., 37% A\ ;v 36%, .36% t > ,200 A 20 A A 20% 19% .20 5,700 103 ' .-104'V *103 105 A 260 >,19 ' 19%;',' A 1X9 19%; ... j - 6,200 46% 47y4. ' 46% 47A 4,200 Xl4%, 14ya 13% 14%, . .14,600 21' 21% 18% 20%. * 14,600 *15% l6Va : 15% 15% 300 6% 1 •. T% N 6% ' 7 1 9,600 110, -110., i A HO . 110 r * 7 350 18%:; 18% • • *18%'18% I - : 60035% 35%, A 33% 35% r 34,800 *43l/a, 46 42 42% t /' 900 *101 .,110. 7 j *101 no j • i w-i >20/-.; 103% 3 18% i 31% No? 20% Jun A' 65% Not 43% Jan • >,19% 18% Aug 3 May 28 Sep 6 . • 10% Deo 6% Jan -26% Way 10 6% 6% Deo . 22%; Jun , A*16: : „,16%AA/v*16 ■AA'53% 54-/-/,'AA-52%;;; 54 > 103 *' 62 36% Jan 60% Jun A ,15 y4 i V 1,200 57%i^-A 620 16% f ' 300 12% ; ; - 2,800 ( 19% Dec A, 48% Jan 18;. July IS 5 A A 10%, 11 t • 52 y8 52% t • 23% }24y8 f . ~3,600 16% -17y4 >- - A 1 MOO .56 13% Dec 68% Aug 21 - *» 44% <.A; ■: 25% Jun Dee a l( 7% Jfin $ 7% Jan 3, Av 11% Jan 19% Way 18 13 Jan 15 A 300 112% , 6,000 17% .18% < / x 3,900 . AA118% ; ; 16% 16% 58% 59% f 4 :; il6 -A A *15 16Va - , , 12%" 7y8 , ,>.44%/;44% ;-">/43AA /-A 15%, irl5 % • 15 *57% .58.-* .4\«v-. 57%. * *16%. 17% 16% J 13;/, v43-' -v J2% A*56 ,57 . >56 -.12%, 13 ' 11% 45. 43 • 11 Vs 52% 11 %. 11% 52 V* ' l6-/a[ 1 >59y4 59.. / 59% .11% 24 7% 7 .<.16% .. 16% 59 1 . *12 1 7 -12%, 12% • .. 192 *33 <33% >92%*" .94 ' 44% 44% *187% . *105 " 16%,1'6%, 90% ;9iya 10 Va 10%' *187% 192 " 33 33 14%; *107% A 13% 10 y4 is y4 *105 14%' ;>>?5-1 Nor 106%. Oct 6% Mar :, .112 Nov 13% Deo • , IIP 13% 10% 18% ; 107 /; 11% Jan 103% Oct 16% -77 Apr Jan <; 26% Dec 107% Nov 28 Nov I' 115 A Dec 1(3%; 16%; 91:" 93-% 10% : 11% *187y4 192 92% 92%" 92% 32% 92% 44% 44%; 44% 44% 32% . Van 13% Jan 115% Deo 34% Nov Jan 55% Deo 77 38% Volume 165 Number 4559 - NEWYORKSTOCK RECORD LOW AND Saturday Monday Jan. 4 i ;- i 7-*7%' 7% *17% *7V4. >7 17% ■40 i • T V _ 1 | • *101% ■-* 103- 82 —' 22 *48 i ao 1*6% 100/ 0 104 . - * 104 • 9 48 *20 8%;.98" i *84% ■ ' 9-? y *182 ; ■ » 211/4 *48 v 21% •49 107 / ; , . 22 »/4- i ' : i *22 93% /2 *182 .V 186 ... I 26; ...26% rt 85 » 25%",; 85 ;/; , 'I 107 *20% : 9,%,. . I 94'I/4' •941/4 <! :.188 *104 8% *104 V- - : 21 * • *50- ■ i ' ! \ t • 27,600 8% 1st non-eum ~ 5 ) ' 90 400 A V 1 ; 300' .No par. *». preferred eonv 4% n>eferre<J Wall. Paper cum 47 non-cr2drpfd_5 —'—No Jnci 150 1 ;; • .4 % %•. Sep Dec 91 v 3 Not Nor ; 50% Deo 8% Deo 16% Deo Jan Jan 98% 11% July 22 Jan 121% Deo July 25 1 27% Feb 7 22 Apr 18 110% Jan la 200% Apr 23 49% Jan 10* May 14 25;- Nov 21 Sep 4 4% 24 •;•• 4 Nhv 22 77% Dec" 32 46 28 Jan 54 187 C preferred 23% Aug 17 9% Jan 3- 89 Oct 85% Deo 14 20% Apr 10 Sep 10 18% Dec 2- ■'v\ 8 '!8 fo -preferred?-5,200 - i Universal-Pictured, Co Mdi 30 7 Jan 77% Uee 160 55 Ya Jun 41 > 73% Oct Oct 176 Jan ' 72 :7 -29%Jan 128 Jan v> Jan * Deo Not 58% Jan 135% Jan 16 9 Wy . 6 Deo Deo 67 52 11 Feb 10 - _1 ; Feb 97% Feb 22 50 51% 144% 89 NOV 30 :.4%.Sep 17 % Oct " par _2 Apr 22 166 12% Dec 39 16% Jan •1 Is Feb-0 84% Feb 6 • .3 100%-Nov .. pfd_ cony 80 , 7 Dec 7% 187 . . i.20%. Nov 22 „ .--—25 Universal-Cyclops Steel' Cdrp Universal^ Laboratories inc Universal Leal Tip 4,760 H'K ..*183 l r.7l86, 142 29 60% May 31 Apr 24 39% Dec 30 106 - Oct 25 Sep 26 65% get 10 Corp—eommon non-cum ed 300 • X72 Jan 84 40% Oct 30 1 •• Stockyards Corp rnlted -StOJce" $4.20 nor •StOW»^ 4,600 .. steel ./ S per share 6% Mar 30% Mar 25% Aug 21 11% July 23 "Nov 23 Sbp 0 ^9 PrOfefred 1% 1,600 I .1 S 44 26 36% Dec 26 • 100 Sep 25 • 48% Nov 22 ' .144 NbV 25 * preferred V. S Tobacco Co 700 8% ' - .Dec Highest $ per share 13% Jan 29 2 9 S Rubber Co„„J___ TJ ;•- 2,000 25%:/ .':*/. 25 25% V- ,24% / 25 '•'.• 1C; 85 ".-■■/y *83 tv.- 84 VV' /. *83. ii1; 84 *83 700 I ( 92 V. 92 \ •; \ " 186"- i ; 0 / 19 Sep 13% Jan 3%% /6ura pfd series }•.. 1,100* 50% - 25 V 'i-1 0 S- Plywood Corp nfew. 10 Year 1945 Lowest i per share ,6% Sep 24 - 20% • pdf1 -No par . 8% . NO cl /.I- 4,300 ./ U 8 Smelting-Ref 1 200;, tv .Preferred- •:•{•. sl * : *182 >;■ I 12,200 ' •• 6,200: t ; 5%-; | 20% •:-•. 100 , ! '.107"-■ .. 8% Co conv 4%6f prfeferredv tJ; S Pi|>e & Foundry U S Playing Card~Co_. 2,600 ; i; •. *48-%' r'49-'--' ■ & ,U S Lines Co ■ 400: | 22% • , Partic v. S per share __ i i .•/•'.*5% 4 -r- 8% ?i' 8% >*■ 7 w,*49 -V 51 "4...- 20% 9% I. j - ■ : 51:... 51 *201/4 91/4 5%... .8% •; 8% a .9 •:'/• t ^ if' il'5% .' 8% 107 't 101, Apr w"*yf . . Jan 25 Deo 5% Jan 9 Oeo 78% Jan 178 110 Mar 8 Deo 200, 23% Aug Not : 48% 9 39 •'•■' Feb 16 Deo c-fr,1 JtXi ' i. 19 -i *17-;* ■ .19% 19% M7% ' 17% 35% 17%7: 33 % ,18% .18% y 201/2/; 20% -:; y; 34% 35 • / 351/8 :/:/ 34%' 89 91 -/- *8992-vV ^ 20 •' 20% ' ;^m%:^VTYa 36v- 20% ' t *86 i 97 1*46 *86 :/4 •100; *70 . *119 120% *80 > V 90- y/'/ •'••42 *37% -',"-*35 V4 *140 • 39 ,37 \ *148 150 .' 97 -';:;.39.i"" Van , -No par 17% Nov 22 1-2.50 7 .15 y8 Oct 30 35 / : NOV 23 ; 15% Sep 19 Co Ine_. Vertientes-Cainaguey . ' Vick 10 • „ . 5% Victor Co^a Shreve A Pac R^ non-cum preferred-. ' 30 ; 39% ;. 36% / *48'/4 .;39% *90 / jif ,f*80.>- f -90 4l%'-"/41 %; - i' 40% 41 ; i .1,000 i,39 ;:i;39%; ^,.;;38%-. 39% |7 ; 600 :• t • - : *36%,->. 36%; •/ 160 / r; *148 .-160 - - 36%|.4 |36f,. -/7 36 % 7 • *148 100 *148 t 117% Dec 10 80 /.Jan 21 &mt*. 10 100/ 145 50% Not 24% Deo Feb 53 86% Mar 15 July * 170- 104 Deo 103 > Deo Jan 24% Jan "3% 45% Deo Mar 8% Deo 59% Jan 118 81 Deo 124 Not 83 Sep Jan 57 : 3 Deo 45% Jan 36% Jan 45% Jan 30 52 - Deo 90% May 28 , " , 160 22% Jan 13% Apr 108% Aug 23 127/8 Jan 29 99% July 10 123% Apr 10 105 Apr 9 5% Dec /v 5 63% Sep 20 > Mar " 115 / 53" < -Virginian Ry Gp-___„_ v—^-?5 ; 40 - Dec 4, 6% preferred __25 /• .37 Sep 24 500 Visking Corp. (The) class A___^__5 •32% Nov 21 20- Vujian Detinning Co_ 130 ytfr Oct 10 100 \ ■•-#'• 36 7/,-145' / 145,, :,7'/-%il40,v.150 >i div partife prefered. & Pow $5 p*ef__!_-_ Va Iron Coal & Coke 5% pfd-^lOO ^ % Va El > ■- •*40% 141 %• preferred 34% Dee 13 51 % Apr 30 113 May 28 83% Oct 19 6%f . *80: 30 91% Nov 15 36y4 Sep 12 100 k Dec a 2 Va-Carolina Chemical/- , 901 cum ; > Chemical Works. " 3%% /• Oct 21% Jan 732 25% Apr 30 58% Apr 24 26y8 Jun 17 • Sugar. Co_6% Chemical Vick8 '''SKSS "SHy/V/. Raalte . • 41 150 Vanadium Corp of Adn. Van Horman- Co. 1,800 - ' ' 90 *140 1,700 1,700 17 . ,120 *148 ; 18% • *37^-^38 . *38 18% %, - . !' *35% . 19% 1,100 49 >/; 101'/a 6%-,r; 6%/ *70% .72% : 18% ;i|'l7^i--17%%;i''r:i7tt;; 38>;rHa:/38/;g38% 20%, 20% * 19% 20% 7;-4,300 '.' :34;- --.35-;: /-i •• *34,^ >:35T. // *8992; *89. ' i- 92 7 " ./ f, i; *89 >,-■>■' 92 1/ f 86 ©7, , ?86 97 • - *86 97 i-Vj1' *47/ r«8 % % 47 *47% v' -46 /'»40 1,100 i7 101%, 101% •, *100 •r f; 101% i- *100 ilOl 30 .6%.'..• 6Vz ''-. 6%. - 6% X''' -,■ 6% / 6 5,000 f71% 72, f*: ' 72%. 73 %7i.0iTi73y-fi 73%/ 900 119%- 1207//-/. 119%120V2*118/ 120% t-v; !:/• 330. 'i *-80;-'w 92 *100 ,//, .38% 36% ;t *140 r / 150 V148 ' 148 ,.,* 160 ' . *89 /,/ 71% i *119% 120%'if 1120 *80 4/ 90 ^V. *80 *40% • 41% ; v .39- 35V* 37 19% "20%, 347/a : 34% i- 48 i> :/.71% . t *41 48 > '' ' ■' *86 noa'y 101% 6% 6% ; 6% 35% 97 - . 48 *■ . 101% 1/ 6% ' ' ■ 17% -/.- 35 ;; *20 ; 19% 16% 36 35 ;.- . |g:j 18% ^ •' *' S -- - i ' 22 5% v. -V. 8% r 21 a *182 186.::, ,. :31 9 ; 8% *104 :• 9% v* *48 ■ 5% ,W 9/; ,; ; *104.' 9 5% ' •; *20 . •> 50 5% -8%. : -• 1:26/ .,26 % 85% 85% 85% «- U,S Leather 500 ;r, 6,900 ■ 401/4 - • ' . 9-1 *95/;,, f 188 '2626%. ., / 22% *48 .>91/4 8% 72% ■ 21% 21 % *9f '701/2;'>,•.«•'. *70 39% 900 ! 17.'. 91/4 ' 9%'' 411/4 " ,'t ■"461/4 48-78% 78%".-" 79 '^/■ 70-'-'-•■'•" —*79- • 80 vr << 71- r-X72%"%"''> -.72^>.-r72% -.''-70%- 72% - { -f 145% 145% *145% 147 -v 145% 145% 0'; '«• - .'I'/v.'. „ - / 48 81. 145%. 145% ■■ . ; 106 ' ' t :• (40 8% 9 91/4 40%- .7% 26% - *78% 71% ' •"5% 9 . ; 9 7 20 • N - 48 i/s 47 • 47* 5% 9% 70% " 26% . ii 16% 17% • 9% / ;; \ r i -7% Highest Par , « 991A 22% ,v 9%' 40%;; 40% 27%. T,. LxJi+iJiV, ■ 48 ,• 5% . ■«. ".ayy ■'.. V 99 22 ■>0 22 *91/4 v - • i-'", Range for Previous Range for Year 1946 Shares , .. 81 27.% *26% 17% ; "//*• 17 . $ per share -7% NE\V \OJfctlV STOCK EXCHANGE the Week " 71% 71% - 73 '? 144%/,/ — 144% ' 148 *••'144 . *77% ',i' i 40% ;. 72 %""i *71/4: STOCKS Sales for-'" • - Jan. 10 $ per share . 7% ' Friday ; i'T< y7-$2Vfc *70 ; 72% ; 38 ;'C •.*.371/4-* 37%/Vv7.37%' 30 Cy' /': 36 37. • ' 102; -1QS " *101% 103%; v n01V2'102%; '*101% 102% t 621/4 - 533/4 51% / 531/4 " 53 -4 r 53% - y v V:51 V4 52%; 148% 1481/2 148% 149-. 149 .* 149-1/2*149 "149% ! 481/a .*491/2 46% 471/4 • -7. '•• 48 48%-;** ;; V •;', '.v48% .' 50 *26% ■C 17% 9% / *70. :Y37%- 38%": 102 Jan. 9 $ per share 7'/a..' is% 9% 40 ■ "- ; '. 52 %; 53% -•.*- 147% 147% 48% 70..' 70% 72% --*101% .149 48^4 • Y/; I 17% 41%:,- *70/:. S:5i>-V52% *146 •;■ 40% Thursday Jan,. 8 - . . '7% ,*v 26%- 27 26 Vi PRICES Wednesday; i '7% • 17% ' 18%. , *7© ••• •; 73;: 30 A 38% SALE per share 1/:.-iv;*9,J//.9.% V 40 • 7%" 261/4. . ■ 7" >'*9 -•// 10-; -- , yv! $ $ per share. ' ..25%., 25% -. Jan-® ■ •''],> $ pet share HIGH Tuesday Jan. 7 55 Not - 43% Not Apr 29 120 178 / May 11 Dec 14 Mar 29 Mar 1GB Deo 145 Mar 173 Dee 7/7; v ill ">.vH 70 70 *17% *69 17% 35 v 74. *«9 17% 36 -if; 17% . *17% 75.3 *69% 18 7/7 75 *17% ' 17% *69% ■ * 73 ■ X , . 70% *17%. 17%" \ i -70%./: ; 17% :-. 17% 36 " 36% *33% 36 35% 35% •"'.34%. / 34% • 104% 105% I *104% 106 &7 ;*104%.105%- • *104% 105% •.24 *104% 1053/4 : y 24% ?.;:i .24 7/ 24% i 24 24% 23% 24% 23% 24i. ' •' ;/ 12% '23% 12% 23% 12% -7/ 12% 13% 13% -.12% y;%2fo t, • ,12% Il2%-: 16% 16% ".1?% 12% 7% 17% 16% 17% 16% * 16% , 16% 16ya ' •/' *103% 104% v 77 104% 104% 16. 16% / *104% 105'W 105 105 104%r 105^7 '' 10417 y» 17% ' 7^17% 17%:. 104% 17 7 17% 16 16% 16% •24 16% : 26 25% 155/fc- 16 y4 25% *25 26% 25% 25% % -25% 25% i; 36%; 3c% 251/4' 25% m 36% ;36% 35% 36 77 35% 36 / 551/4 ,36. 26 ■?*;• 26% 05 7. 25% -7-5'"/} 351/8 26 -• 26 .7 26-7 26 26% 77 *26% 26^4 />* j/7 26% *20% 22 22 - i 22'% V> 25%'/;.:21% 22 »/4 I 21% 22% * 22 Va' ,*21%;-22%/:>::, *22 V 24^r 24% ..:■ 25 25' > -25'A 25%,-> *24% 25 24% *35 24%',.7 --• 24% 24% >4':* 36 V/ 36/7|//i *35 *35% 36 7/36 /:■ 36%, 30% 37 <V ''7/ *36% 37 ■h#:' '12% 12% 12% 12% 12 ; 12% 11% 7-1? % 12% 12% 41 : 11% 41% 12% 740% 41 / 41% 41%. 41 -V, .41'/a -41% 42 *87 i: *87 " 41% '88 % 7 88 •if 36% 35% *105% . :•/ 107 200 Wabash RR 4%% Waldorf System ' 300 •"' 1,600 •8'L I'--' • - '.V. '">/" 1 ''/ .-///>,/> /... . "://y-|.-:/ : f 87% ■■.:&£$■% 33 % 1 >33% ■ ■ "'X ■ • f■ "-:.Y ' 400 ,/ •/ 33% v; 34% / 7/',' 33% 87% 34 . -7*87- 7| 425/ . 88 *87 : 33% 33% *110% 111% 88 r 33% ' , *87"* 77 Webster Tobacco Wesson Oil & Inc 111% 7-7 111% J; 120% , 120% . HlVa *110 y» 111% ; , • 131% /Y'/y/'Y 10 ■ '■i«yW'.?l%3w I . 115 Jari ■ • > , 35 57 Jan 2 *V 5% Sep 13 14 Sep 12 27 Sep 24 " . , . - 2 .. - - Oct 10 , 11% Oct. 28 26% Oct 10 > 91 , > . ^ Dec r 16 . ; 98 . NOV 27 , /' ■ , Jan . 26 , ll% Nov 21 y6 Sep 11 30 NoV 19 5% Oct 10 81 - • . .. 9 34 . 47 . - Wyandotte Worked "MM' Saturday Jan. 4 •/ Monday /, v 7; Jan. 6:/", # per share Co .13% Deo t per share / •«; Tuesday Wednesday i;:/ Jan. 7u Jan. 8 ; t per, share - 45 >16% .19% •f76| -V*r7 45 45 16% 19% 16% 16% 19% 19% 66% / 45 66% 18% $ per share 42% ^ 'i- 'i'-} '■ * 45 < Thursday Jan,9 r., ? | Friday , $ per share Sales for £s7{ Jan, 10. J per share JSfOCKS ' ..• '•■ - v 17% 65% 17% T-r > 13% 29 13 25 Deo Jun 19% Not Jan 22 Deo 138% Deo Jan 22% Jan ; 37 Not 53% 40% Jan Deo Not Not 38 Jan 70 79 Jan 100 10 80 Jan Feb 4 75 100% Not Apr 1 25% Jun )B 82% 67 42% 16% 16 J 42% 16'A- 19% >- 19% 66% 19%; 19%"-- 19% 19% - 67 67% 66% 17% 66% " 17% x 65% 17% 18 1 • i per share. Jan 69% Mar 110 Not 84 OCt Range for Previous Year 1945 Lowest $ per share 17% 18 . 7 18 V4 . . 41% 1.5%..,. 16 . 1,900 Yale b. Towne 3,000 1,200 York 6,200 1,500 idlit Co. 33 Corp, ->;.7T.y Yotrng Spring/& Wire. Yeungttown Sne.% Tube. Youngstown Stctfi Door. Oct 10 13% Nov 25 to par .No par 15% Oct 30 97% Sep 24 15, NOV 26 61% July v $ per share 1 32% j«a ' 27% Jan 31 13% Jan 35% Jan 17 19% Jan 83% May 31 31 .Jan 29 39% Jan , , Highest t per share 20 Mar 47% Dot 24% OOt 31% Dee 70% Deo 37% 8op 19% 9% *4% • - — Oct 12 26 v* . 16 b\ ■^r- 14, 6% Mar 31 Range for YeatJ.946 Highest ■-/;'' Shares " 19% 9% May 63% May .74 Aug 100 Apr 103 May 106 2 Jun Jan Dec ' NEW YORK STOCK EXCHANGE '-•* IheWeek 42% "'16%'./ 16% 7 ; 19% : 19%.'./ 67% 17% Deo Jun 35 47% LOW AND HIGH SALE PRICES Par. . . Sep 19 84% Sep 30 87% Sep 27 75 % Dee 27 59% Oct • 7 _ 18 128 43% Sep 10. ' Oct 31% Deo 94 52 Mar Deo 30 160 ' 15% Oct 29 .142 Feb 103 jan Feb 26 95% Sep 24 . , 78 47% 26% Jan 8% Jan 83% Jan 5 ; Deo 107% Jan .716% Mar 10% Jan Nov 22 Dec 43 Jan May 21 12% Jan 29 26% Jan 16 21. July Id 101 July 26 21% Feb 7 12^8 Sep 19 1 , 45% 31% Jan 87% Jan /; 21% Oct Oot 38% S>eo 37% May 105% Deo 181,% Aug 36 . . * > Oct 64 10 62% May 29 107% July 26 44 May 20 44 Jan 28 23% July 10 IPS July' 11 Jun 56 35 31% Aug 11 Jan 21% Nov 22 . : 57% July 30% July / 27% Feb 100 Deo Dee 92 11 100 / 61 14% jun 37% Jun 27% July 39% Jan 30 >.63y4Jun 18 : 45% Jun 27 / 72 7 27% Feb . v 14 Deo Deo 8% 30% Jan 64% Jan 43% Aug 26% Jan 17, Oct 23 90% Nov 23 40 115 Deo 32% Jan 47/a Jan 13% Feb 14 41% Jun 112 Deo 118% Deo Jan 3 Not 113% Not 118% Oct Jan 10© 17 Dec 37 , Jan 22% Mar 107% Jan 31 36% Nov 22 Not 89% Not 101 14 Aug 20 100 38% 113% Sep . T 63 Dee Jan Apr 23% Mar ; 24 95 39 / May 7 •; 29% Nov 21 ; . - V ' . . 16% 24 16 Jun ~47%"Deo 84% May 14 Jan - Deo May 9, Jan 32 109% Jan 32% Jan 7 21% Nov 25 . s/. ;1 Dee 33% Deo 100% Apr 101 18% Oct 30 Dee 50 21% Not I 7 _— . " 16% 105% Deo ; Mar 1 53% Jan . 71:. , Oot 6 Jan ;/ 90% 713»/8 ■-ii 32% 50% , Deo 30% Jan 116%; Apr 11 • 14% 14% Aug 24% Jan 16% Apr 20 43% July 11 89 Va Aug 8 45 Apr 30 117% Aug 16 Sep Jan 20 ; 119% May 16 53 % Jun 10 8 111% Sep •'•7% Dec ■ > Sep 13 Deo 110% 8% 31 | ; 119 Aug •/;. 122% Feb 4 32% Nov 22 . , - 113% Oct - , - '■iHI 106 .: . Dec Deo Aug 91% Oct 29% Apr 29% Sep 5 47% Jan 31 ' ' .." 39 NOT ; "i% \ 35 y4 Mar 14 7 34% Feb 10 ■ Sep 10 Sep 25 108 1 ' ? 78 Jangle Sep 20 29 , . 4 105 7 50 31% Sep 19 85% Sep 30 33% //^•|32% / 333/s 111% 111% >7 1QO 120% i West Penn -Eltetric *1191/4 120% / i-77'119% 7119% / 7 class A. V • 120% .A/119%;,i 19%' *110 1205/a 110% loo. /> "7% 110% 111 7*111 112 *1117 preferrfa_— 112; *111 '_-7_. /"/ill 7 ill :kf 115 111% 115 *114 115 /'•;i7'/ 40 114% 114% / 7 *114 77 115 6% preferred— £• ^14 '•'".US .7*114 40 115 /' /: 40 7 40 40 20 39% / > 39%/. West Penn Pbwer 40 '39% 7'-7/:39%;a39%" 4% % pfd. 40. I 112% 112% 40% ic V 1,900 7 West Va Pulp & *112% 114 *112% 114 /•*112% 114 Pap Co. 112% 412%. *110. 112% : / 10 7i.s 10%'6 aa, 9% 30 "7-/4% % :'-p 9% / 10 y« 10% preferred 9% ' 9% /v.t9%-' 107 S7.W >' 9% 9% , 72%: 72% it 71% 7?/ 3,700 75 Va •/ / i- 71%' Western Air Lines Inc 72% £ 71% 771% > 69 % / 770% - - " 66 677 7 7 2,200 6%. 6% 6% v< 6% .: Western •61% 6% Auto Supply Co. / 6% ' 6% 63/4 • -6%' :■ 6% '• 6% h'-*14 ■ 16% fi ;' •*13% 1,400: ;/ Western 16% *14 15%. *133/4-. 15 14 Maryland Ry—.— 14 *14% 7 15 37% 38 38 Vz IOO 38% ■' v 38 7'- 38% "4% non-cum *373/4 39 39 ' 7 39 '•'• ■•2nd preferred 100 '39 - ^397' /./ •77 7Q 79 70 •78 hq 1,100/ Western Pacific RR Co com-No I;;/;;.,*81 ;V 84%: :. 03% 83% 84 " par 84 19% 7 19% ' ,-/- 19% 400> 20% 18'A i s 19% aieferre<* series, A 18% 19 19 19% ___„_100 18% *11 19% 12 ; 127-/ *11% 17,700 *10 12 7 Western Union *10 '§ 10% : *10% Teleg class A-No par 12% *10% 33 12% 33^ 32% 33% 7; Class B 323A 33 32% 32% 32% No par 33% 32% 33% 25% -/-^. 25% 25% 26 > r5,900 25'A 26 m1/: Westinghouse Air Brake 25% 25% :y25 Va No par 25% - ,7;';: :" 7 24% 7 93% 25% ' 93% 94 21,500 94% ' ' 94% •943/4. ' * Westinghouse Electric 94'/8 *94% /Til/a -94 95 Corp_^_l2% :r' *51 52% 52 720 52% 50 51 7 7; zz *49 y/a/«. cum pfd ,3%^'cum pi a series A 52 .•:•::::/ 51% 751% :|a 51 100 *33 ! f *33% 34% 35 7 000 7; Weston Elec 34, 34, 34%. -33 instrument——12.50 33%...34%; '99% 100 100 /■h/7 33 f r 100% ; >700/ 100% 100% Westvaco Chlortiie Prod*99% 100% *99% lQCt. I No par 77^, 100 100 7 350 : /-/ 100 100 £ 350: $3;78 preferrS //" ^ - ^ NO par ;i *61% v85|a7 65 *61% *61% G5 ' ft/ ... *61% 65 <65 69 65 65 •101% 102% 20 *101% 103? •101% 103 ; > Wheeling & Lake Erie Ry f -101% 101%. *101% 103 ■ >101% 103pf /: 40y* 7» 10 40% / 39% 40% ,|7- / 5%% 39%, 40 c6nv. preferred.y 39% 39%| -39%<, 40 ■ *98 / 99% 39%. - 39% 99 ; 99 7/7 1,800 -if Wheeling Steel 99% 99% 98% 99% 7/ / 98%, C6rp^______ '* 98% > 987/a 90*33 34 34 130 7 *33% *33 $5 conv prior 34 " *32% 33% pref_^___-— *32% 33 Va ' *32 32% 25% 25% iL1/ 26% 27% White Dental 26% 27 20; 26% 26 Mfg (The S S) 26% 25% 26% /; *15 ;//'■ 15% 2,400 j: ;/: 15»/a := 15 % 7s' ,715 WTiite Motor Co______ 15% 14% 14% 14% 15 /' *86 -■:/: 90 14% 14% *86 90 7"1-1,900 ;/>, White Sewing *86 90. *86 90 Mach^4jprp *87;; 90 * - *• <87 90< ; •31% 34 -// 34. jfi< *31% *31% 34 | -V f 't *31% conv prefer 34% : "*31%'34% *31% 33 i-i 6% 6% : 6V2 6% ;i. prior preferred ."'76% 6% /. " 6% : 6%:., 6%, / 6»'i y. v 6% 10 --6% t$ 1,300 ••/ J 10% 10 10% 7 10 ' 10% 10 Wilcox Oil' Co/.. 10V4 IOV'8 10% "9% 10% 14% 14% 15,500 ,14% 14% 14% 14.y« • 14 Va Willys-Overland Motors14% 5 ' .14 X. *97% 101c 14%, ; ■ •• -13%- 14Va *97 13,000 - A' Wilson & Co 99% ; *97 98 < Inc. 98,' 98 *97% 99. 97% *17 T-r 17% 97% 200 *17 t 17% I -17% $4.25 preferred 18% "18% 18% <18%/;i8% : 18% *145 ; 18% *145 165, t k ? Wilson-Jones I65 1,100 *145 7 165; v. *145 Co.... 165/ *145 I65 7 ; *145 < 165 \ 44 45 7/46 'v 46% ■;> / •40 Wlschnsln El Pow Co 6% ;• 46% 46 40yi a 46% 46% Q ; 46% 48 47 48% 7,1,900 V.; 47% 48% i Woodward Iron Co 47% 48% 47% 50 j 49'/a 50% * 49% / *62 50% k 64% 64 17,800 63% /:/■'; 62%; Woolworth -(F W) Co 63%62 63% * (62>/^ 64% // 60% 63 *91 94 ^ 2,300 93% 93% /7V *91%; Wbrtftington P & M (Del) 94%^/-/,*90:/7 94 7*9.2 : 947 -*92. :/7 94 100 *97% 100 r 7 Prior *97% 100 Z 7.7.7797% 97% >77 98 pfd 4%% series_„__ 98 7 / 98%.;'M 7. *97%, 100 *76 79 / f,i 300 *76 //• - -*76 77 .79 • 7 <tv»7e v Prior pf 8 4 Va % conv 79 series 6, 1 79 *70 79 *65% 67% 67% ■■'•if;.//67 7? /.v'66% Wright AeronaUtieal7__ 67/ 66 .' 66 67 67 "66 67 7 H 14 ;; 13% 1,800 7 Wrigley (Wmh Jr 141/4 7 14% 14% 77;/ 13% 14 13% (Del) 13%; 7 7: 13%' 13% 1,400 *110 y4 *119 42 23% Aug 29 ■ 9% Sep 13" Snowdrift. .IOO 7//-- $4 conv prefep^ed 3,200 7 .West Indies jjiugar Corp. 20 Jan 29% Oct 24 NOV-15 20% Oct Jan 18% July 19 107% Feb 20 ! Sep .10 31 Sep 13% 30% 7 20 Va Jun 18% Jan 24 7. 20 64 14 Mar 26 V Sep 24 16% Oct 30 25% Dec 21 111 12 100 22 * Feb Apr 29 54 ■- xllVe Maris Wayne Knitting Mills '/Wayne Pump Co 4,200 88. Apr 23% Nov 25 / , • 86 23% Jun " 3- V 9% Oct 30 Waukesha. Motor Co 5.5QO .... v.; ■ 105 PefAeum Corp Washingto^^as, Lt Co 1,100 " t : • •V 800 , I 33VSr Dec Bros Pictures Warren Fd».& Pipe Warren . "■■■) Sep 11 15% Oct 10 par Warner 500 f 7/ 2,100 1,000 , llii ■ 56 _No par 4ftf preferred 7 54,500 v . • - preferred c.„_ 100 9,300 / ./ Walker (Hiram ) G & W new No par; 6,800 // Walworth Co_ " / 4,700 ;/ Ward Baking Co common ,7.149 f 5 Va % * ; 40 7 P|eferrec|/^_.100 Walgreen> C0________-_______^0 ; ' .*-'•■■» - -T — T-T——fTi-4 and >»g>#Hr nrU>e? ^ei;,«atiMi/ ' " / ftp . •• tiyv.'- mwyrnffh*r ******** rt Deo 12% Dot, M"MI thill; 4at ' eeMMeptfa \WJ Stegi? - «; ♦r • 'ru:-<: gg& a; ttutaMMIMML V^-i j '-yyy r'-:. jWj, ' >' Shares; WeeA: Ended Jan. 10,1947 Monday. *n« Tu«feday Wednesday. ■•> Thursday. .4,814,170 TotaL ' *:«. ■> ?• 714,940 :* W? 1,056,790 Friday. ■ 785;650> ^ I: Bonds Bonds , ' >'>' of Shares) « 186,000, 314,000 • , .-iiUi-, 4,757,000 i. U'uesday<*» Total $101,000-',.! $10,000;$111,000 308,000 "• ; 32,000 ' ' 1* ;- $6,000 . i'-x 346,000 211,000 r, 12,000 •r ( v.". 223,000 :225r000. r ^ : ',9,000 t«v. 4,000 238,000 333,000 ! • 15,000 ; 1 > 3,000 w. " 351,000 Domestic >; **** t . *** K : ■» « . , 283,455 ——— 362,005 ———. ;; 1,000 334,000 $14,000 $1,603,000 28,000 305,000 1,560,500J' $1,483,000 " Total. $37,000 $33,947,100 287,665 226,340 Thursday— Friday—— 4,216,000 - .302,650 Wednesday Value) ) Foreign . •*. Foreign Government Corporate. , '•98,385 . — Monday™.———, 6,304,500 ' 4,254,000 .> , $1,109,000 Saturday—.. 5,132,700 , . »'»»'■ i"f. '• Bonds (Par (Number '£\>/> ;-.v- :: 1 • WeeJfc Ended Jan. 10,1947 $9,282,900 $37,000 ; > 210,000. \'>t ^ v 143,000 : > , 200,000 . 4.044,000 4,614,000 4,016,000 < v->,; ..f';. ».v Stocks ,, $32,801,100 , Government '> * $56,000 j 296,320 > $9,226,900 977,340 4,909,700 983,130 " • 37990,500 Saturday--. ft ■•' Total Bond Sales Uhited States Foreign - "-1 TAarHf OHM YearlyM®^; Railroad and Miscel. Bonds v-V.-. 1 , Daily, Weekly and Monday, January 13, 1947 '• u ' >•> York Stock Exchange Transactions at the New Stocks' .1 ,<j!'i'■ .. ,: i.. .C t.! " Number of : „V . \V, '"A, (liU1y $106,000 > - ■ Id 1946 Week Ended Jan. 1947 - 4,8l4,17Q Stocks—No. of shares. 32,801,100 Railroad & Industrial- »y;: >■y; TotiiTotal— ? $73,000 . /• $46,207,100 30 * » •.the .;(!.■ y.-' .. ,V' ;v' ^ ■. 8-—L--; c 50.57 : January 9_i_--—1; 178.43 -> 50.48 10—.177.43 N0TICE—Prlce» are "and interest"—except, Jan. 4 ■ k High 7 Low • *102.22 102.24 *106.11 1X)8.18 " *102.9 102.11 ♦102.20 102.221 ; 106.12 *106.11 108.18^ *108.16 108.18 111.27 *111.26 111.28 *111.28 111.30 *111.27 107.5 112;18 , > *112.17 *113.8 107.5 *107 *104.29 *104.15 , *103.30 104 >106.5 113.11 114.26 *114.25 *102.26 102.28 *104.14 105.11 *105.9 105.11 *104.29 105.3 : *105.2 *107.3 107.5 *107.2 107.4' 104.31 *104.30 105 *105 105.2 *104.2 *104.5 *104.7 104.7 104.2 *104.3 K 1043 *104.5 *103.30 104 '> *103.30 104 *104 *104.2 104.4 *102.26 102.28 *102.26 102.28 *102.28 *106.5 106.7 *106.7 *106.9 *102.26 102.28 102.24 102.28 *105.14 105.16 *105.14 105.16 *103.27 103.29 *103.28 ''*102.26 103.30 106.9 :i *102.26 102.28 105.16 *105.14 103.31 *103.31 104.1 *106.30 107 *106.31 107.1 *105.14 105.16 *103.29 .\i i. >102.28 102.30 102.28 *105.14 : 105.16 102.8 *102.6 '102.8 *102.6 102.8 102.5 102.5 *101.5 101.7 *101.5 101.7 *101.5 *101.5 101.7 *101.5 101.7 *101.5 101.7 *101.6 101.8 *101.6 101.8 *102.6 102.8 *102.6 102.8 *102.6 102.8 *102.7 102.9 *102.7 102.9 *102.3 *102.8 102.10 *102.14 102.16 *102.15 102.5 " *102.8 102.10 *102.14 102.16 *102.14 102.16 *102.3 102.5 102.17 10^.8 102.8 101.7 *102.3 102.5 *102.8 i' 102.10 *102.14 102.16 ♦102.16 102.18 *102.8 102.10 ♦109.9 102.11 *102.8 102.10 *102.9 102.11 *101.5 101.7 *101.5 101.7 *101.5 101.7 2'As 2'As Treasury 2s *101.6 101.8 Treasury 2s «. ♦102.8 102.10 Treasury 2s _ ♦102.17 102.19 *102.18 *102.24 102.26 *102.26 102.28 102.29 *102.29 102.31 102,30 * 102.25 102.27 • *102.26 102.28 ♦102.28 >0225 102.27 *102.27 302.29 *102.27 102.29" *102.28 102.30 *102.30 103 105.5 «105,7.,105.9 *101 *101.5 101.7 *101 101.2 •Bid - and 101.4 105.7.._ 101.2 *101.5 101.4 asked price. .*105.5 —105.7— *101.1 101.3 No sales 101.7 *102.10 102.7 102.12 *102.16 102.18 *102.16 102.18 Treasury , Treasury 2s 102.21 Treasury ,*101.1 101.3 ♦101.5 101.7 transacted this day. a - 102.3f$ r ' * 2s Treasury 2b Treasury 5,000 Treasury Registered bond transaction. Nov Apr 106 106.16 May • 2 2 113.2 Jan 17 102.22 Jan 4 102.11 Jan 2 102.11 Jan 4 4' 6 5 107.10 Apr 12 106.15 Apr 6 109.15 Feb 18 Dec. 1967-1972 .1951-1953 106.28 Apr 30' 101.15 Jan 2 106.15 Aug 12 .1952-1955 .. _. 107.1 V..." Apr ; 2 4 Apr 29 Oct >. 107.26 Feb 104.16 Apr 5 3 104.7 Apr 102 Apr 29 Dec~18 102.8 Dec 18. 103.9 Jan 17 103.9 Jan 17 103.22 Feb 6 Sept. 1950-1952 102.16 Oct 28 102.20 Oct 18 104.3 Mar 15 104.14 Jan PH .1951-1955 — 103.13 May 16 103.13 May —June 1952-1954 Dec. - 1952-1954 102.14 Nov 29 102.22 Nov 15 1953-1955 — 1%S l%i» 101.15 Dec v 108.21 Nov 105.1, ; Dec 100.27 102.26 Sep 103.28 100.18 Nov 10J.12 July 100.15 Sep 102.9 Oct Deo Apr July 104.24 Jan .104.24 Jan 102.20 May 102.27 Jun 102.26 Oct >. 102.21 July 102.26 Oct 103.5 101.29 Jan 1 Dec 103.8 Nov ..March 1950-1952 .1951-1953 — , 108.21 Nov 100.27 Jan 102.3 102.8 Jan~~5 Feb 107.28 Dec Dec June 1949-1951 103.7 Feb 101.24 July 100.20 Aug 100.23 -March 1948-1950 Dec. 1948-1950 Sept; 1949-1951 Dec. 1949-1951 July 102.1 106.29 3 Jan 102.7 102.2 Jan 8 12 101.4 100.18 106.15 Aug 12 106.16 Apr 107.14 Apr 102 1 100.10 Jan ' Jan 108.17 Aug 100.29 Jan 100.15 Jan 100.30 108,17 Aug 12 1947 102.17 Aug 102.9 July •" .•'>> 104.22 Sep 17 1959-1962 July 103.4 100.18 .Jan 107.19 Apr 107.9 105.24 Sep 108.15 Nov Jun 100.17 Jan .1954-1956 —Dec. 107.25 Jun 100.28 Jan ? .1956-1959 —June 1959-1962 107.15 Apr . 7 107.27 Apr 2 107.4 Apr 16 107.9 Apr 9 101.16 Jan Oct 105.19 Aug 108.4' Jun Oc% 113.30 116.16 Dec n f 107.5 1964-1969 113.20 Nov 106.28 Sep 7 105.22 May 1 104.7 Nov 14 103 Jan 4 Jun 110.15 Mar , 107.15 Jan 28 105.29 Aug 19 108.4 Jan 106.6 2 ' Apr 106 : 112.21 Jan l> 113.3 Nov 1 118J23 Feb 19 .1950-1958 .1962-1967 '•* Treasury 103.1 Odd lot transaction, 2s 2s Treasury 2s Treasury 2s Treasury 2s Treasury . ♦105.7 -105.9 2s Treasury 102.21 102.29 103 *102.31 103.1 *105.7 105.9*105.8- 105.10 *101.1 101.3 *101.1 101.3 *101.6 -101.8— *101.5 101.7 : *102.31 __ Treasury 2s *102.16 102.18 *102.16 102.18 113.3 ' Treasury 10,000 *102.5 102.7 *101.10 102.12 *102.19 *'102.26 102.28 *102.27 ♦102.30 103 *102.30 ♦102.29 102.31 *>102.29 ♦102.19 102.20 *102.27 ,i 102.9 *102.5 118.15 Mar 12 106.11 Mar 112.10 Jan .June 102 9 102.6 102.11 102.17 102.18 15 .1963-1968 *102.7 n02.4 *102.9 *102.15 *102; 16 115.23 Apr Dec .1952-1954 ♦102.7 *102.23 102.25 *102.27 102.29 102.26 *102.28 102.36 5 105.8 * h 113.12 Aug 12 107.5 1948 2y«s Treasury 2yis Treasury 2'As Treasury 2'As Treasury 2y4s 105.17 107.2 105.14 Jun y .1950-1952 . 114.25 Dec 112.17 Aug 17 .1949-1953 105.9 *102.17 102.19 *102.17 102.19 *102.24 *102.6 ; 1U.27 Apr 17 102.12 Dec . Treasury 10,000 Nov 111 115.26 Jan 5 -1958-1963 -1960-1965 *105.7 105.7 >*102.6 Treasury ; 104.2 •105.6 *102.6 - 106.11 *102.29 102.31 105.9 *105.4 *■ *106.9 Treasury - Feb"l9 112.21 Aug 23 6 2'As Dec. 1964-1969 2'As —1965-1970 2'As 1966-1971 2'As ——June 1967-1972 2'As —Sept. 1967-1972 102.31 111.18 109.24 Mar 109.22 Feb 2Y2S 104.5 Jun 28 0 106.13 Nov 104.27 May 16 6 Treasury 7,000 110.3 of ntf*- Highest Lowest > 108.27 Aug 2^8 *102.29 ♦105.7 105.7 * >r 104.14 July 13 .■ Range for Previous Year 1945 1946 Highest 102.11 Dec Treasury -l Range for Year ;> Lowest Treasury •104.3 ♦104 >v* *-sr -1956-1959 2'As 2'As Treasury 2y2s X- " ^,'..^*''>7% *, ,F; 7 • • • .-1948-1951 .£1951-1954 Treasury Treasury *105.15 , .1955-1960 2%s 2%s 2'As 2'As 2'As Treasury *107 1,31 104.31 .1949-1952^ Treasury /.A- 104.6 > 104.2 *}05.5 Treasury 104.8 107.2 *106.30 107 *105.5 Treasury *104.6 *107 107.1 105 6 104.9 *104. v *106.31 » Treasury *104.4 ' 106.11 106.7/ Treasury ,,*104.17,104.19 102.30 104.2 107.80 .1951-1955 ■; 105.3 >104.7 104.5 *104.1 •' *107.1 S * 105.1 104.7 *104.3 .104.5 7 , Treasury 107.3 104.9 107.61 .1947-1953 27/ss Treasury 2%s Treasury 2%s Treasury 2%s • 105.6 *104>16 104.20 *104.16 104-18 104.4 . . *105.4 105-5S*; Bonda . Treasury •v $4,109,000 «$1,905,000 1 $2,651,000 ' 11,000 . 107.66 93.14 4^8 Treasury 3yas 104.16 107.3 *114.15 104.17 *104 *105.3. • 1'4,000 40 * EXCHANGE > > *102-26 102.28 > *104.14 104.16 . *105.9,105:1'1> *105.9 105.11 ^ 105.4 * 6,000 107.65 93.04 Treasury *102.26 102;28 104.16 >107.1 104 114.27 114.27^ *114.25 *114.24 *104.14 'Mm-' *102.27 102.29 102.28 106.8 *113.9 113.10 104.4 *103.30 104 *103.30 104 112.20 104.16 *105.1 103.29 103.29 *103.31 104.1 *112.18 104 17 *104.2 104.4 112.19 102.27 *105.9 104.31 *104.16 104.18 107.5 349.000 122,000 ,211,000 107.54 92.90 Treasury 3s 102. tli>* 102.9 *104.14 107.2 104.31 *107.3 *114.23\ 114.25 : *107.3 107.5 -I $5,000 ' 102.11 s ♦107.3 107-8xai> 107.3 107.5 :■# *112.20 112.22 fc *112.19 112.21 • i«, 'A: faa Ml V V *113.11 Il3.ian* 113.11 113.13 *102.9 102.11 *102.25 105.2 *105 *102.9 %102.11 ! $3,749,000 Total ' GOVERNMENT BONDS NEW YORK STOCK Sales for 111.29 t • - 6,108,480 . : 107.61 92.69 111.91 106.13 *108.16 *107.3 *104.29 *106.6 102.23 *106.10 108.18 *107.3 113.9 *102.23 *102.21 106.13 *108.16 *102.9 105.2 *103.30 102.23 *106.11 102.11 *105 *104.2 *102 21 .108.18 *111.25 *113.6 113.8 *114.23 114.25 >114.21 114.23 *102.25 102.27 *102.25 102.27 *104.14 104.16 *104.13 104.15 *105.9 ; 105.11 *105.9 105.11 ♦113.7 104.39 t 92.40 "111.75 Bonds($) High Low 106.12 *112.16 107.5 *112.16 112.18 High v 92.55 ; 111.55 the Week 102.23 111.25 *102.9 ] Jan. 9 :> Low High Jan. 8 ; \> Jan. 10 *106.10 108.18 *111.23 Friday Thursday } *108.16 • 111.26 .• Low High Rails .111.52 104.33 '104.39 10 r Utlll-' > ties ^ Grade " t;, deferred deUvery sales are disregarded to the week's range, to computingare the only transactions takes of saah sales unless they the range lot the year. *102.21 102.22 102.22 *108.16 *111.24 *107.3 Jan. 7 Low ; *106.10 106.12 106.13 *108.16 : ' High Low - Wednesday 104.J2 SALE PRICES Tuesday - Second In the week lh which they occur. No account'!* case the month when the bonds mature. ; decimal point represent ene er more 82d of a point* Figures after - $1,603,000 104.06,,'li.'111.40 ? 64.09 36.60 2,012,240 •. 1946 /.;■ $1,769,000' $2,434,000 14,000 164.05 ! 111.16- . '37.04 7,v 64.62 J 37.067^ >; 64.71- for Income and defaulted bonds.. Cash and LOW AND HIGH Monday Jan. 6 » Saturday 64.48 64.51 • week, and when outside of the regular weekly range" are shottn In a footnote 7116 italic letters to the column headed ^'Interest Period "indicate, In each * \\i'. : 36.96 % 49.58 - . .37.0764.99 *' ; 50.46 " ties 36.95 " 51.33 :: 178.06 '$]?■January : 106,000 , Total: ?fs?10Firsts'' 65 £ Indus- - Grade, - Stocks X trials? > ' Ralls 15 50.87 177.49 January ■"; government- Total-. 'UtlU-- ,. roads'r ' 178.43 • fci Foreign 1947 4,498,630 ;; $1,483,000 10 Jan. 1 to Jan. • * "1946 ■/, Bonds ■ Domestic. $68,886,100 ^ Rail- . 176.92 , 7 T.^ , 1,560,500 Stocks—No. of shares, '■i 3,186,200 65,249,400 ; 20 ;..^ ' : trials: x *-v ; Foreign corporate— Indus- ■ 1947 ' $450,500 > '• Week Ended Jan. 10 , 1946 15,080,400 * 1,488,000 v : ■; 44,646,100 ? > $49,890,000 $33,947,100 '. 1947 6,45(0,010 '2,036,500 47,618,500. ;; 1,109,000 Foreign.. ... $235,000 V )0 Jan. 1 to Jan. ; 11,567,180 • $37,000 TJ. 8. Government /. . -1948 .1950 16 104.26 Feb 18 104.29 Feb 21 101.14 May 17 101.31 Mar Sep 20 .102.17 Mar 101.3 9 8 102.10 Feb 100.25 Jan Sep 100.17 Jan 103.1 . 103.16 Dec 103.30- Dec 103.1 > 104.4* r 100.13 Jan ... 104.6 Sep Dec ' Dec 106.12 Jan 106.12 Nov Jan' 100.28 Aug 101.23 101.9 Apr 101.19 Dec •v • ^ 3/ Volume 165 Number 4559 ttf "r'-w' Vwi^tu NEW YORK BOND RECORD * •'". RANGE FOR WEEK ENDING. JANUARY 10 M*«lMfc ■; A BONDS New Turk Stock i i...i< Exchange rrMay Interest-Last ft V. ';- : \ New York City. Transit Unification IssuerM 2% Corporate Stock Bends Bid* Asked -i \! Low ■ Range, for Bold Year-1916 ■ , ^ Exehange Low A 7s Munlo 7s. .1960 A6S (Republic of)—1 of 3s external 1926 (Rep of) ;1947 :L Telephone 120. Broadway, a ■ Mow York - r NY 1-1693 •? 1947 coll 7s A f 7s series B f A External s . 1945 f 7s Af.AteteriaUec AExternal ^^o^Berp 1945 1957 fis :' j Bxternal 4 g 4%s of 20-year 3%s Belgium 7959 ,. „ S f f 7s, - (Int reduced to 3.5^ ) pursuant to -dat reduced , - »%, J'D j_n No. ': .55/: J-B - ■ ~~ . 61 — — •/*»-. m'i ^,, (Rep) A6a - '•> "65% 5 $ 1 y4 ANat loan extl 5s 1950 t A Poland " ■- - 54%- 65 ofeA4 % s. 102 4-1 loo , ... 1977 s P-A r Af-N i .!/. Jan 1961 sinking fund 6s 1962 assented— .1962 sinking fund 6s— assented— ** 25 : J r* 23%: , nk sink fund 6s 8s^-l962. J-J , < 24% 24% 1.1 •. M-S 94 ' 24% »• A-O A-O - * 11% * 19 ya 100 102% 96... 95 2. " ; . "> $ - J-O • v 30% 16 11% ,11% 9% 9% — 7s 16% ,13% < 9% 11% 16 J-J *12%. 18% 13% 15% „• *-18% 1958 :.v'.:4; jr-B *32 1959 us '{35%; *33 A -2008 .-1956 / 4 1965 "? —1963 - 1970 —1955 * > i>32 — Af-8 A-O 38 *105%" 105" $$"•, P-A 103 ' 103 107% 99% 107% 103 " j 99% r''; 102%' 107% 100 100% .. J-D A-O 101 105 105%. ,104%105 *: — , 103% . *103"*"'" - 1963 !A; Jf-N i > *100% 100% 102 ..1994 I of) V ' ' 98% :, r-, , J iox*f;.v.i;>:rxr^>y"fcr .2008 ,3T35 .1959 ?uy,i IIS 44" , M-S j 1 : "7"30 '' ,18% : >13r!-,17% , *30%" 40' T? 1.8% f 6s 1st ser. -I960: J-D -1981 i A-O -1949 .1958 *19'"" 25y« ; — A-Oi«%"i8%'"2 ' 12% U$?VV'V$^'^4a'28 28 7$ Vy.-> 1 y ''31 A-O v'y''-Vf#:y.:$*';*]9% 21%.' :V*'.— V" ''12' 17%' I if 7». assented— 1947 1 1968 1950 .1963 83—.^.—1961 25V? 18% r A-O * 17 — A-O J-J *24% - J-J$V;y||| 19%yy{ J-D 29% '■ *33 2001 42 ■. 1 3o -.1966 Stamped pursuant to Plan* A" X33 " •BX > 47% - — , 32% 24 35% 2} " 35 48 47 « M-N vV 30 43 v.. .>■ 32;:'/>$2'{{$.V.$ . ARlo de Janeiro (City of) 8s,.——1946 ..75 95 : *97% 110 pursuant to Plan A' ly W":'' (Int reduced to 2.375 %) f AExternal sec A-O *'• *37 A-O P-A } ' V 7 Stamped pursuant to Plan A 'Vfevvv^^'" (Int reduced to 2%). ~ • • *" — 33 /y »*•; 2013 |f:32 F-A *■ >•■ - k ;■ v i X- 52% 31%: 34%: v )• 'P.y 50 45 • V'ivt!. 9 39;;:. .38 > * 38 30% 43y';; ';77; 2001 —..1953 6%s__ -" 4 33 30% 21% 30%1 30% 1 19 f 121 29% 30% ' v' '' 29 •••;*; 1,21% iii yyy;.: y - For Financuri Institutions FOREIGN SECURITIES . ? 30% 5V 30% $yyy: wbm trading MARKETS ;;-y!{.'{' vf«abl marks & r.o. lnc. ; • ' • 29 29%. 22%y-23%^*-y 23' ^ ■'■■■■ 20% 19 .v.-y..- Ifj- f ^ page 233, ■> FOREIGN SECURITIES SPECIALISTS 28% 19% t " ,"r ;■ V 30%; 22%. '' y 30% "20% 24 ■ f .ifiy v ili, { k 28% '29 .' SO Broad St.. New York 4, N. Y. > , .y.- nil' f." •, vt. .... t 48 % 30% ' V-, tv' 20% .28% 23%I-*■ ?'6 f»'v*: 19%'28% 23% 19% 28% 25 '. v {{{{.. $f$1® V!. - 23 " J-J ■ 30% 24 ,y >;37 I: 33 3Q%rj 14. . V ' ^ 3« r ; 11% —7 19% 19%\; yy' ll; Flan A (Int reduced to 2.375%)— 46 16% • 29;r l> > ! -21% 39 , 100% 106%- . 4; 21 ^;':;48y ^ ^ tvg?:: P'Sv-7 23%;, :v 22 12% ■*14 2008 • ; 4- 23%23y2• 32 Y* $iv;: • ? 30% > 21% J-D A-O if-N:. i- 30 30 21! 3t; ■ v-24%<4"'^3%424%«23% 24 9 27% / • 21% v^-.. : 101%: 104% 102 63% 24 y4 24 >- -r 22, 10 . »9%, agree Plan A assented. :|vyStamped 20 % ■ . .4.f ; : ^ * | ' ' y (Int reduced to 2.25%).—.2006 f {; A Prague (City of Greater) 7%s—.1952 i ■>'$. > 108% 112% 5 21% 237/a-'-24'/2 !: 237/» - ,. 21 y 2V'>106% 114%'? w'-' "^'100 ' /'102% 4 ■21% ... footnote^ see ioi 74y4' 9 24% M-S r/j. r""-.i $y;;^r?^i969$yAMfy> \± K n 104 *15% -16% ■ M AExternal loan 7%8— : 21 y4 J-D assented— : ;:>'l 24% — assented 10%- <:t,; .• -■ • -4' 25 23% -J-B -1961 !r, . J 88% 10r^;V4 v 24% Af-N —1961 to 4%8 | APorto Alegre (City of) IVVV Stamped pursuant to t . 101 5 >£ oo% ■ 15 -109: t! ^ P-A .1957 . .l 108% 109%- J-J -1957 6s. i — U.-:~ 4 Af-N .1961 87> . 1 : • A-O 1963 Bank 6 Mrs assented—, ' : 1 92% 424% ' c. 23%. 24% -i':A' 24 24 • 50% in 104 *9%.-13% ( *28% >30'- . - ' 104 36% A-O -1963 assentedl.- 9^ ; ' L J-J M-JV —Sep 1961 Sep 1961 assented— : . ; *99144100%'—'-.- M-N Feb 1961 : r 100 I;}'' j-j 1942 .—Jan 1961 60 104 y4 •c?"»*'"$y1 'lv 99%. 100 .^ 109 1942 f 6s { . , ' 103% i96l - 1942, —, 95% 99 86% 101% > — 92% 1960 103 , — looy4,iooVir-'.-- V* J-J -Feb 1961 s .. ♦100...-101- 1984 f 7s . * 100 1970 -1954 External 4 ,' 1978 1975 . *98 5, fund gold 8s A4%s assented- 103%'$;4 • 99 . . ioi;;;;. 96 v 1933 $ AExternal sink • ^ 59% 103-. 1102%.102% ..'tt/ 100% 103 100 ''^^,$U::$'^''*'12%-.rv J-D t-T M '65 65%; "64% i 50 102% 101% ;■ y', V-hV ',1-', agree assent (Rep of!) gold 6s—— A4%s ir56%'«"64%i>'4 3 101 s f 6a 2d ser. s $ AStabilizatlon loan V; 54%- 65.-;'' •"5665% ^ •*—•'. . 101% 101% .1102 J-B ,• - 3 -•, *57%-..64 '*• !»57% 62 ! 1958 6s 56'-'-.->v*65v>»'' i*57%»^^.L44"Vg5 104% 104 y4 V?•''P.*" ? - — > v,; 8ec-ret^s:serles'B$;-^.I9^;'v^jr4JA^$y::;$yy;yyio5% mWi C.tV7 } ) yy; ANat loan extl -.>65% d .54% 65 > 4 4$.55 $ 65% ' $1 'H ; , t Q-J .1945 pUrBuatft to Plan A (tot reduced to 2.125#)—. APeru (Rep of) external 7s„_ i : 4; 102 '• '• 64% t.5i 96 Ly, ,;Stamped ^ 55% - 63, •! .,..58 1942, —- 2.125%) f 6%s—— (State 98 98 j';:/ eo% i'i rles- } ^ ' APernambuco V 65%^65--..Srv:, — .I." 16 $,~$104%{;i:$>; • l '-ii*:'65%' /. U-N r>>y .y.^!Vi 1954 Panama (Republic.)— AStamped assented 5s ;Stamp mod 3%s ext to— 1 'i, ,105 lot , ■ m^W* 55 %> 65 y» 55 ' agree to Oslo (City) sink fund * '^11^^.57% A95 ,:;J> - 1957 ' For > ij"J -• *37%'. 59% ' 57%. 57.%- - ■ A Guaranteed sink fund >■' 56 - ; 27. 28 assented A Guaranteed v f I • 55%; 65% /' 55%.'.64% . Mortgage A6e 77V<;S: 85 A-O ; J-D 82 V'-vj 1;^1> 57% 57,%,.,:'-64*«.•{. *57%;: * , . 26. AStoking fund 6%s. i 58 ; Alxtt sinking fund 6s A6%s 84 : 77% lioi . A-O - , 82 v; v. $'■ 57% . assented- A6%s • 57%'^ ^ $*57.% '63% 1961 A6s assented : v ," t 4%-4%s. s f 4%-4%s ARy external A Chile w: \\ 4 ' Norway (Kingdom of) 4%s } : , External sink fund 4 y4s— j 4a sink fund extl loan |y 4 Municipal Bank extl s f 5s. 68% . 14 f 1945 4 ' 88% U7>a;.: v.. 5 _ 10% • — M-N .1945 (Int reduced to 2.125%) y > 77 •'•••> 57%- 24 AExternal sinking fund 6s—-I960 _^6s assented i960 AExtl sinking fund 6s_ A 6s 63 VV^'i Zi . a *57y.. ACarlsbad (City) 8s. A Bxternal J> 59 ';<^57%v:64:v^^w^^-:^.fe55\^ —Jan 15 1948 r 68 ^'.•57%„;.5T%"^'1 Oumda (Dom of) 30-yr 4s25-year 3%s— 3%s ACs 1 3 .^4.-?57 Ys *57%.;,i.-* ' i&Wrbi tttternal readj 4%-4%s internal a:f 4%-4%s._ 3* external s f $ bonds A Maternal s ' 68% 58 s .*102 j : Stamped pursuant to Plan ■ -v: / 57% stamped jj. 2 reduced A See external ) (Province of) 1 A 6s 68% 64% i?-i 23. Sinking fund gold flunking fund gold •A 6s 58% (Int 113 117 13%;$!:Y2%$13.%r{{ ' ji-o •• 5,-1942, 6s of 1913 Stamped pursuant - *102 . -- . AAssented to Nov. 5, 1942, agree v {" *20 ' \ -1957 Minas Geraes (State)—: {> ASec external s f 6%s 68% - 5s. Nov. AAssented to Nov. 4 58% ,vj.^ . lATreasury { 76 :.:;,'^:!y^t58 — Sif '■ y : - , 3 83%.l: Series No. 30 g f to I15> .!' .1954 (US) extl 5s of 1899 £ 108% 110 $>■'' i\ 4'-' i y 1942, .AAssenting 5s of 1899 AAssented {" ; 52 ■ mtfmet,wo* 77 77 ^ 21- Series No. Brisbane (City) 58 58 57%; 5.7%;.>: **&4% ! 8 22. Series No. Series No, . C ■ M-S agree { ' ... .83% JrJ .I960 5, 104, 109 — $ ♦101- J*D _1964 f 5s 39 111 98 •' .. ,*101 ^ ■■'- 1968 AAssented to Nov. AMexico { 76% 4 *57% 3%s Series No. 29 A7s -* — 60% 83% f 12— it'.L\u 3%a. Series No. , * - 85 - A-O A-O ! 99% 106 104%. ; , 150 ■ 19% 101 -M-S.'...; .1943 y f I :i 58- 88% . *101%'. ^ "s ' ioi% 101% — ■' j ^...— s ,* 92 20% ,*101% " s , | ' 82/a s ^ 68 1961 1969 {4; :Mexican Irrigation— ! '1;, ; A4%s stamped assented—— 001/ 62 \ J 53- "5 61 Jf-S ■VyA-O [;£: A-O 1940 1' >,i paid-: •1 ry V98% i : 97% .98%. . 1942 A Jugoslavia (State Mtge Bk) 7s. AMedellin (Colombia) 6%s. t 115 co V -JU . *•■■83% 13 " 3%s Series No. ; . r-\ •' v' 324a SerIe® No- 25 A Chile • 60% 60% 60% 60% ..:v-60% .60% — — *83 % 14— : : 103% , 10. Series No, Series No, Refundlng ; 53 60% 3%s 3%a 3%s 3%S a V 103% 110% ■ ■ : part Irish Free State extl 102% 1 11 A6a ■ „ , 9_ Bxternal 100% • 68 *51 — ' A-O Haiti (Republic) e f 6s series A .1952 $; Helsingfors (City), ext 6%s -.1960 1 ,' 1 68 68 i:■:&. * -o 53 85 No. Buenos Aires ' 20' ^ A"° Series No. 18 3%» Series No. 19 3%s Series -No. 20- V; 102% 106% -? 100% 103%; 48 : " ;v 55" 37 8 |tt 3%a ioe% 113%; 59%. 51% >58 ; t -■ V: •;* 112.%: .98%' 98ya 98Ye 've.'101 ■: 101 y4 J-J J.940 jA6s partpaid...— ;; 6 45 5 *57 .. ^ , — .v. ,-%.--3%s Series No, 17« *™; " i« 7 No. ,f!v3%a A7S 131% •; 70 51% 51% 4 ^ 112% ii2y« F-A —1962 Vyv/ Greek Government-— ; — . 1 ,' ■> 33 9 : 64/a 64 /- •— ?%« Series No. 15— »y»« series No. 15 1%« Series No. .16. !v 17% - loW!99% *. fi41/ ,^1 . a 6. N6. 3%a Series No. 3%« Series No. T * . 33 * 27 55 112% 112%,...: 106 /.loerr-i ^V'V'.H-AH A-o iosu .1955 > (Republic of) 7s.—; 1967 French Republic 7s stamped— 1949 < 7a unstamped —1949 U2%,v^;'>^::>mio f? ' us 6f : .1969 . ■ 1952 — ) A Assen ting 4s of 1904I , V i y AAssented to Nov. 5, \ {; AAssenting 4s of 1910 ■ Nn 3%a Series, No. 3%i Series No. 3%s Series No. •: 2 - —■ -»fi1 *7? - 3%s Series 3%« Series 3%s Series 3%s Series 1 . (Plan B)— 2«* ? series B.w '""'V1 'A-O{ ABstonia 33% 18 91% 90% High 81% 94 *103 : ,'y A-1951 5y«s of 1926 -I'.k.. •1% *102% 110 — V.-D c .5%a 1st series.: /6%s 2d series— • ^ 20 ;{■ ' $ 98 % ,. 99.. < :• 18 : .: v f-V"' >,-■■•.**) i 37% - to 3.375%) f"!! 2°* 3aSlif Jf No- 5 S'i , : A-O >—1978 3%S a^rte« ;u 101% 102 . |y :' ) •'••21%,r 37% -1/ 103% 103% :;:;$*no A pursuant to Plan A (Int reduced to 3.5% •21 j '..-J.-i> • 101%'. '..'!. ioe% k . 1 .. 21% 1,.:>. f 6%s of 1927-. pursuant to Plan A of nal ,1bonds of 1944 t 101% 7-n 1073 Vian 1977 |A2d series sink fund 5%8 Customs Admin 5%a 2d series 9 38* - 37- 1 *48 - f-A 1953 IA Dominican Rep Cust Ad 5 %s IJAJst.series 38 * 21% > ,101% 102% ) »8 % : . fctiSi ?S5ce/t0,3-375%)-^-1879 r! ' 85*' 21% 8 . 107% 107% funding bonds of 1931 dSSZwi Stamped pursuant to Plan A - . .101% 75/- > w- , io9% io9ya^I. r ? . ?~P Stamped ; iobv* I • 18% 100% y 100% . *f-N F-A e1941 .1941 A .1949 ser 20 Af-S . ; , A' s Stamped y $/■ 18 %. - {, '-Mtr ,v J 85 •-?* *97% 104% s ;^*i8%-^;i:r .v — M-5 a955 lABxazU (U S ofX external 8s Stamped pursuant to Plan A External <■ - ,.. Stamped - .1955 .. 27.:> 24. ....24. .1949 * 6s- s 24 J J-D —_1966 external 6%s. :i-K/ Bxternal ■tip-: Bxternal 1949 IA Denmark 20-year extl fis ;•» External gold 5%s—^ Bxternal gold 4%s ■WW# *25% t . A-O -—1957 -—— ... A-O 1928——.1956 'X--jg>*dXg-B<4Sri:=. y *73 ;V*103% 104 'X — !'v • • A-O serieL-*,,*, 1957 f 7s 3rd series—1957 (City) external M -1 ! *25 Ve 27',: 5%$y 25 y -25% , J -J Australia (Commonw'lth) 5s of '25-1955 Bxternal 5s of 1927 ; } J-J y J-J 1st series.. f 7s 2d s sec s $ , f 7s series D_. s J-J 1945 1945 s f 7s series C Atoternal - *73 • A-O Af-S Cir?*T _. f AExternal s '■ ..1968 4s lAAntiqula (Dept) I AExternal F-A 1949 Norway) t! ' AGtd sink fund 6a AGtd sink fund 6s Akershua (King of - *48 . 93% (" 91% M-N — ;• ^ „ Af-N v", — ASlnking fund 89 I , t-' ACzechoslovakia (Rep of) 8s ' • ; foreign Govt. * Municipal ' V Agricultural Mtge Bank (Colombia)— V, Sinking fund 5%s • 28 14% 86ya 58%, 60 .'♦48„;_, i —1951 7s (Republic of) 5s of 1914 External loan 4%s 4%s external debt —: : Teletype:i * v 18% 18% 2 ' — Members New York Stock Exchange R Ector 2-2300 .86«/a . J-D ——1953 Cuba Wertheim & Co. J4. . "' $69. /-A ——1952 Copenhagen (City)" 58— 25-year gold 4%s '• y. M-N —1946 fund _7s of 1927.. ACosta Rica Low •1 ,15%M^%„ (, ■■ A-O ASlnking fund 7s of Year 1946 No. t,€6,y3.86% J-J A-O ,1947 $ASinking High -;*21%-24 j'.. .. {A-O 1970 ;Mtge Bank e'/aS— A Colombia e rOct 1961 -——Jan 1961 f $ Range for arid •20% ^ J-DV'S ,v t bonds—— s Beads v - ; 1927- 1951 'j Friday's Low MS 5s_-— A6s Of 1928- ; er Bid A Aaked M-S -I960 (Hukuang Ry) Colombia vT'v;>::- Week's Range ... Last , Sale Price • , Cons Assented—- . / 'i> Friday ft High A Chinese _ .F.'V • . Interest Pasted High. ACbllean e - . ... erFriday'e Mefiiee ... v-,"... .1 '■BONDS New York Stock , Week's Range ■ ' . ' Vi; T«letyp«..N- T. l-Vtl . >■'.111 It Monday, January 13, 1947;; NEW YORK BOND RECORD WEEK ENDING JANUARY 10 RANGE FOR .■ York Stock New Week's Range or Friday's fefe Bonds fefe Range for Sold. Year 1946 Bid & Asked Friday BONDS Interest Exchange ■* SalePriee Period ,V; :'i - Sul (State of)— AOs extl loan of 1921—— Stamped pursuant to Plan A tlnt reduced to 2.5%) Inst fefeNo. High;- fe Low . .. ' " ' * ^Burlington Cedar Rap As Nor— A l?t & Coll 5s~ J-feaiL. v a Certificates of deposit— Stamped pursuant to Plan A • 2.25%) 2004 (City) 8s ——.1952 'Stamped pursuant to Plan A <Int reduced to 2.375%)—2001 A6%s exti secured s f s...——1957 ! Stamped pursuant to Plan A - - i Stamped pursuant to Plan A : J (Int reduced to 3.5%)— ,1978 Serbs Croats As Slovenes A8s secured external A7s series B ASilesia (Prov of) 'A4%a * $$ J**! , M-S Mwd JfV"i!<A" J-J sink fund ""X ■ External ■> If71 readjustment- 1979 External conversion i r'3%-4ys'4As extl xonv—,.-.——1978 4-4%-4%s extl readjustment—1978 3 Mi8 extl readjustment —1984 A Warsaw: (City) external 7s —1958 ' ' assented Ai%s , Adams ; 1958 ; 9 *115 Af-N Jf-N Jrl> Am & i - American Telephone As Telegraph 3s conv debentures ii • 2%s debentures 2%s conv •; 1956 1980 1975 1— 1986 ——- —1961 —1962 debentures Amer Tobacco Co deb 3s 3s debentures—; j Co.^- — 2%g debentures 2%s debentures^ :1969 ? A Anglo-Chilean | Ann Arbor 1st gold 4s ~i Atchison Topeka As Santa Fe— • General 4s ——1995 Nitrate 104% 105% 100 103% 103% ?, ft *100 105% 106% .109% *108% 109 y4 105 104% 104% 97 '116% , 1; 104 98% *100% 100% iooy8 108% 101% '.131% 132% 102% 102% 103 -103% 118% 103% -:99% 99% 100", y 98% 108 O 132% 102% ioi y* 110 159 Ve 107% 107% 99% ' 100 VW.!*r ■ 109 102% 105% 103% 107% Atlanta As Tr 98 98 r ' " *94%102- 92% -100 - 94 ' 187 A'3: *114% • 1963 t" i r 1964 Atlantic As Danville Ry 1st 4s—-1948 f Second mortgage 4s L——1948 Atlantio Refining 2%8 debs— 1966 General unified 4Vis A « 106 36 ;~c 38 fe . '" 428 I a— . 64 106y« 67% 92% 38 y4 72% 43 81 19% 39% 311 r. , *27 53%' .7L , r.-V,5i47^ C? 106%T96% 106 108% 106 Atlantic Coast 1st cons 4s.—-July 1952 i 33 - ' J- Charlotte Air Line Ry— a 34-,; ; ' 96% 60 ' 98% 98% 107 ., . 141 ; 48 - 242^ >^- 26 113% 124% 114 131V* — 116Va 116% — ;;197, ;' 104 /. , 126% 3 129% 131% 131 July 11995 July 11995 1st mortgage 3%s V 104% 1057/b -74% 107% 103 • s f .. 65"y " ' -9 119% 119 y8 105 V'-117% 119% ',104—105% 106% "106 -106% 6780 31'"-":v 58 308% 110% 59" •: • 100% 97 1995 — 4s 29 :1- *100% 104% -■ Adjustment gold Stamped 4s .f 1 •" *103% 104% 1967 deb • t!I>A 1998 1956 2030 Foreign Pow deb 5s. .19. "90 90 1972 Albany & Susquehanna RR 4%s—1975 5 'ry- 22' r«- 96;";'07 10iy2 102 Alabama Power 1st mtge 3%s Alleghany & West 1st gtd 4s_. Allls-Chalrners Mfg 2s ^iebs '97 96 t * F-Afefefe JrJ -fefe E-Aji 4 —1947 .1967 SVis Alabama Great Southern | '4% (5115-H - 1948 Express coll tr gold 4s Coll trust 4s of 1907 > , — — \ — t 3 J1 - Jjf-N 1964 AExternal sink fund 6s.— /8%S-4-4ye% (5 bonds of 1937)~ ■. - 1 *100A 101 ^ ^ C«JL2R-,—1 « M-N 1960 6s 9 Mi 28 • *23 j-t) 4P-A .1958 9 {* i' 1 10 10 H-N Af-N fey * .1958 i V J-D — — -fefe A-O > -—1962 extl 7s Mfeil .?? V-J -.——1962 assented AExternal ; 109 1104 , (Kingdom)— extl—. sec Sydney (City) s f5%s u> -1955 AUruguay (Republic) extl 8s--—1946 . 106 fefe ,fe: ,1 , J-J fefey JfeJ v>! i . v. 106 Stamped pursuant to Plan A (Int reduced to 2%) 2012 V; J-Jfe-fe; IA Secured s f 7s — -1940 A-O 5 ■ ' ^Consolidated. — - fe. . 56% : Stamped pursuant to Plan A (Int reduced to 2.25%)—2004 A 6s extl dollar loan 1968 <: ■: I , 58 j • j 38% < > , *\ 30'A 30V4i• _y*35~ A-O * J-J —1956 A7s extl water loan Bonds ife- Range for Sold T - Year 1946 or Friday's Bid & Asked - , - , Jf-N —1930 Stamped pursuant to Plan A (Int reduced to 2.5%)——1999 Ags external — ——1950 Stamped pursuant to Plan A (Int reduced to 2.5%)———1999 i • ;.Vj iASan Paulo (State) 8s_. ■ Week's Range Friday Last > Sale Price JW-N , (Int reduced to 2 %) ---—-2012 | ' Bush/.^erpiinal 1st 48-——— t ^ . f.: ..." L ■ Interest Period ; ' =-■* > lASan Paulo ; ^.'^.A.- . . (Int reduotd to . High i-Wf Low — , ; -BONDS ' fefefefe.'Vifefe!\High A-O gold——1968 J-D Stamped pursuant to Elan A fe» (tot reduced to 2%)_, —2012 A 7s external loan of 1926— 1960 { li-Jf • Stamped pursuant to Plan A l. ' (tot reduced to 2.25%)., 2004 A 7s municipal loan ,-1967 J-D s, . New York Stock Exchange . 1940 external stole fund A 6s ;•" fe Rio Grande do . r ; 101% 110 IOO % 103 98% 106 —— fe':28-j| 102% *102% 107% 83% 80 100 ' 104 102% Baltimore As Ohio RR— AConv due 105 fe 107% v, 63 32% 63 *„33 ,100 62 102% 107% lliy# 113% 107% 102% . 99 .99% . 108 y* 81 Feb 11960 — Fgh L E As W Va System— Ref gold 4s extended to 1951 98 fe i .98%, 118 *105 6'west Dlv 1st M (int at 3%% • 1950 1959 due Toledo Cin Dlv ref 4s A to Jan 1 1947) , 108 % 105%'112% 1st mtge gold 4s —July 1048 Stamped modified bonds—' fefe'fefe 1st mtge gold (int at 4% to Oct 1 1946) due -i-I-July 1648 Ref As gen ser A (Int at 1% to 3 Dec 1 1946) due 1995 Ref Ac gen ser C (tot at ly#% ' to Dec 1 1946) due 1995 Ref As gen ser D (int at 1% to V > Sep 1 1946) due 2600 Ref As gen ser F (int at 1% to Sep 1 1946) due xx, 1096 •' 3.08% 8Q»/4 80% 78 ' 80% fe 94% 109... 109% $ 94 ^ ' Bangor As Aroostook RR— 17" ———1951 Con ref 4s «f' stamped — 1951 Beech Creek Extension 1st 3%s_—1951 4s 99 - 105 VS» 95% Tfef -128% 128 %: 104% -95 4 - *100; v' 1960 Bell Telephone of Pa 5s series C 98% -j 127% 133% i . fe*- 07:,fe. 99 y^ 1 5 2%s———1961 Bethlehem Steel Corp— . Cons mtge 2%s ser I Cons mtge 2%s ser J__-: Boston As Maine 1st 5s A C • 1st M 5s series n 1st gold 4%s series JJ vfet .mtge 4s series RR— —3960 Alnc mtge 4%s ser A-——July 1970 tf Boston As N Y Air L 1st 4s -1955 Bklyn Edison cons M 3%s_.——.1966 Rkiyn Union El 1st gold 5s —1950 Bklyn Union Gas 6s series A—1047 4s s f mtge 107« 2%s— 1st mtge 2%s_1975 Buffalo Rochester Ac Pgh Ry— Biamped modified ~ (interest at" 3% to May 1. 1947) due 1957 Buffalo Niagara El -- For footnotes see few- • ! : page 233. *94%- 99 90 90; 58% , 60 43 . . 109 102% 100 30 ~ 103%' 303% ^ 103% *106,* ^ 101% - 102 — — - 103% 105% 106% 106% . — •HQ'/a ' >:- ■ •. 21 2 - , 105% fe 104 ( 104% 16 ;*t*. • j :|2:.fe.* 45% ,28.l I 106% -fe v * t fe- • 105 ' 308% 116; 3 -- — -fel fe. fe -fe *107% 108 *102% 10,3% ioo-i4 ■ 108 V* ^ , 84% ;vl02% : 105% fe- *.7 10.9% yi08 fe-fe A 109 % 1 116% no 108% . *110% llO'/a ::ni5%.—;r,r ! 107% 99% 100% 101% 107% l? j:7 \ 105% - *io4 ,fe__ 101% 106y« 3.. 102% 102% 100% 102 , 12 161% 101»/« *106% II '■ ■>" ' I? 58. ;... U06%??105%106.%; ^•fefefel 57% 84% I 85 ^-fe- -fefel07% 109 v— :',106% 106 Vy *105% 106 :fefe;V';fe^t fe' fe' fe' fefe — 106% | 104 v 39 15 ; i I .106% 84 17fe''"* 50 7 fe i | 101% 5 99 . : 105% 101% ■—fe.. ~ ,,91% 58% 43 — 9 ■ . fe life; , 103% 104 1960 debentures ' ;©en 61 199% - fe 100 46 101% 102% > .' 99 <a 99% 102% .—1967 1955 -——1961 v 101% 102% -fe .lo^o 1976 • fefe- HQfe fe*. *108 , Beneficial Indus Loan 14 . ioi'; 102%. 10?% 104% 104% fe-.. 19 ; 106% 111% lie 106% 110 110 111 . -105% 107% -.102% 105% v, 100% 103 - rft'fefe 101%, 164% 11 304% 366% Number 4559 1 [Volume 165 NEW YORK BOND RECORD RANGE BONDS Friday New York Stock Exchange Interest Period Last tAConsol Rj non-conv deb 48-^-1954 ADebenture 4s A Debenture 4s Consumers Power Continental 1st Baking 3s gACuba Northern Ry *37% j-J 27/8s__1975 mtge debs—1965 1st 5y«s . J-J, 1942 ' y».: 105% • . *60% a 6s • ser B 1946 deposit rets ref-M 5s C— ser -■>''. AIncome mtge due_ Morris dp Essex division-Coll 4r 4-6s > Delaware Power & Light A-0 1965 tAConsol erold , 96% 1993 104 \ 43 . 3?— j V- '-85 — '»* <1, -108 t t 106 104 106 Va A-O July 1952 ; A-O Af-N j-j; James Frankl dp Clear 1st 4s,: 24% 53 54% 54% 52 \ J-D 101 48 48 ' 92 100 5 100% 101 92 93% 190 102% 103 ft 54% 45 68 ;• 99% 100% s 98 163% 314 97%; 54 61 27% 54*'. f? vp54 100% J-J 96% 60%, 26% J-J -1958 - 97% 58% 106 101% 105 100% 104 Va 45 65% ft' • . 108 * (V, V /> 64 :73% 5 106% Kanawha dp Mich 1st gtd gold 4s—1990 Kansas City Fort Scott dp Mem Ry— 110% ft % 66 ■ fot&V. 7*'/:>'7 >"ft F-A - mra ?,/:-•" - A-0 t " v f •> >' • *Kjf. 45 . 46 ; ft v./ft 48""-' ' 8% SARefunding gtd 4s_: A Certificates of deposit- 85y8 102% 92% 102 y4 104% 105 102% 103% 104 *103 6% 29% 29% '42%'"'76 30/. I'M J ft -'ft 108%108% ft 108y4 108% 20 106y8 Stamped —ft: ft 109 J-d : < _v* 107%108-r J 106% 110% : 7 " v J-D 1 ft 65 ' ,--S3%'a'65- •• ft'"/"2* -'bl a'*75 : !l995 ft.ft,.JrD .ft: ftftft.'ftlft-.ft*50- :ft'60 'Jkr^-. 45% 53% Detroit Term dp Tunnel 4 %s„_...1961 : ' Jf-N > ft % 105% I 104- 105% 20 106 ' 120% Det Tol & Iron ton RR 2% ser B__1976 -7/JfrS-•• ft JW-S 25<ft 90 % •,Vv92%.J®2%-'ftft 25 < ft'90% *98% Dow Chemical ; 98% 2.35s_„._.„i_____1961 > M-N < ftft, emii .100% 100% * '•""'•ft"-' •' ft tfADul Sou Shore & Atl gold 5s__1937 J-J Vift-'t ft;!-, '.''-iftftft '"****' '.'.ft'/ *31% •"- 34% ©T " *V«# • t;',."" ". /*" /8 'J .1"** ' 31% 7* 'OX /2 : 54 W* /: Duquesne Ligbt 1st M 3s luesne Light 1st —1965 J-J ' 106% - 106%^^106%^ft . ft ft 16 ftft a0*%^106%:ft I Plain f'-: • ft 105 ye 21 , fti 103 J-J *107 - 99% *112% -a 75% "• 180 65% 108% 112 112 , * Jf-S *2% 188 '180 180 -ft. 102% 1% 104% 104% r 72 108 108% A-O 123% ft — J^ 105 107% 122 '•*68% A-O 83 ye 104% 107 % *121 J-J 4%s unguaranteed—: —ft.—1961 Kings County El L dp F 6sft—ftftft-1997 Koppera Co 1st mtge 3s———1964 JAKreuger dp Toll 5s itfs—.'——.1959 i 70% 5 ..-ft' 85 y. 71 26 103% 103% *103 ; ft 109 y#' 105 268' 78% ft gold 4s_1995 80% •ft 104% 104% ft ...104% A-0 ft ** 78 77% 78% A-O —ft—_ft___'__1961 ft—— .1961 — - 77% Kentucky Central gold; 4s_ ___1987 Kentucky dp Ind Term: 4%s__ftr_1961 f 106% '109 2 A-O Ji'i ti • *105 A-0 Kansas City Southern Ry 1st 3a___195o ft 1st mtge 4s ser A ft.—_—_1975 Kansas City Terminal Ry 23As_.ft«,1974 y'ft "8%ft;ftft254';ft >,-<8% ^ i'» A-O 1936 79% • ;J^ft;31ft5^ft48% B0 57%-577/s M-S - .-ft, ■ ® *i«hi»yVpAl. U .ft-.'ftj ft;'A-0 1965 Gen dp ref mtge 3y2s series G—1966 ref 3».series Detroit & Mackinac 1st lien 91% Af-S J-J 1 67% 47 ' 42 -: • , . r :>>F-A -1959 Jersey Central Pow dp St '27/8s_—1976 Jones ds Laughlin' Steel JMis—:-_1961 104 ftft 82 tift/ 64" j ft.?/ii65 % J-J - ' ul, 95 1 107% ' 1936 4s A ♦95 •58% J^f 1st ,5s B—.-1972 International Tel dp Tel 4%s 1952 106% 89% 107% 85 '"r • 53% - * gold High 19 99% t ' ; J-J J7---1 ftASecond 100 Low ' 55% ' - A-6 1 ft Detroit Edison 4s series F Year 1946 No. ' *52% —J 1938 I J-D 1952 ft 99% Int Rys Cent Amer 53 102 96%' '• - V .1973 v 102 104 ~ 96 Jf-N . ■ 4VaR__ t j:h series 99 Alst gOld 5S series €_——.—1956 JAInternat Hydro El deb 6s-r1944 53% • J-J Range for Bold , - A Adjustment 8s Alst 5s series B . 48% . Co— xiy Alst 6s series A 86 ft ; 40 . '"43 i'.ft •;-;>" '■ •* May 12042 ARef dp lmpfc5s seriek » ■ -1 Jf-N ■■'/ft! AAssented ' 80 J . union Beads High J-J Ref dp imp 2%s ser C_ft-ft_: 1988 international Great Northern RR— 61 52 Kaage Friday's er Bid 4 Asked --*103% A-O IDenver & Rio Grande Western RR— A General s 1 5s 1955 , 45 ; Didiauupuiib 106 - 46 ;; 103% 103% — . J-D Jf-N • - . Last BalaPrtea f .1975 tDenver '& Rio Grande RR— IA 1st consol es - : ' Week's Friday latere* Kxekaaga Illinois Terminal Ry 4s ser A——1970 Ind 111 dp Iowa 1st gold 4a .,-1950 108% 55% . 45 *44 ; Vr V.! i yp. 7/ ft ;___1973 . 86 Ms 44% ... •"43% vP;f;i J-D Deere & Co. 2%s debs 1965 Delaware As Hudson 4s extended 1963 Delaware, Lack & West RR Co— N Y Lack dp Western div 1st & • 44 J-D 76 75 101V* Vi Steek Low 76 103% y York Parted ' ; 86 > Dayton Pr dfc Lt 1st mtge 2%s Dayton Union Ry 3V*a series B v 35 33.. 49 New High 136 • 49 .1946 Low /."ft _u'.• >, 105 Ms 106'/a '.4, r receipts A Cuba RR 1st 5s gold ADeposit receipts. A7 y2s iser A deposit rets NO, 103 Mi 103% *i J-D Year 1946 42 ADeposit , Range for Sold 39 ■"38 M-S Bonds High *38 _ J-J _l£f56 BONDS Friday's Low J-J ——1955 - or Bid & Asked 1 - WEEK ENDING JANUARY 10 Week's Range Sale Price . FOR 2% 107 5% ' ** "* • , •*— . ftft'fjft 4 take 6h Jp Mi'cfi SoW gplC 3%8^-~1997 ftyj-l 3 % s. rj ERBi<re^n ^ft ^ ft Ed El 111 cons ^l8Ln ; 1 ^ ®g——X956 (NY) 1st gold 5s Ry' 8,/4S--—-1970 58 M-N ft 1995 121 -^-S - » , * < *: 121 J : 3 ' - '112% 112% * —1965 A-O .ft 113 'V-''■.ft-'"--!^'ftt/ Gen mtge inc 4%s series A 2015 * J-J" 78% 78% 79% 1st cons mtge 3y4S ser E 1964 A-0 :155 ■' ~ 105 111 1 4 Eric R&ilro&d Co '—• ft 106% 53 - I03y2 | ftXst cons mtge 3y8s ser F^.^.^.1990 mtge 3y#s ser O 2000 1st cons 2s ser H—^——^^..1953 Ohio Div 1st mtge 3%s. 1971 J-J „. 1st cons " ft.» v* J-J'' - ► ; • 103 92 '• 100% *103 __ — i 1st dp ref sink fund 5s— : : ft, I : -ft 1959 Alst dp ref 5s series A._— - ' J-D -""•w'--.A.Ceiwicat®»,of7deposit Francisco Sugar coll ... Trust 104% 105% " 101 .. 38 101 6s—..1956 M-N • , ... . 79 106 __ 103% 100' l Af-Sft^'rftM ft^.ft'ft;ft 71ftft,71-/ft^'ft 1974 . , V 59 6 rift v 106 106% i04 ■ \ ^ .90 ** 64% "88%' » 5 101% ft F-A 86% 108 J-J ft .70% ; 70 - • - - • ,V " Jf-N ,2003 38% »ft1 v; •'.'ft 71% 98% 85 993/4 83 V* 96 83 27 /,'■ •; 99 65 8 Ift'fv 40% 100% 102 95% "••'' 87% 74 96 Ve •:- 33 6 60 35% 69 35% 628/e- 40%, - 65 31 146 ft"-, 35 %-35% -2003 100% 100 ; 18 'ft//'/ .ft ij/,4; iv)., V-;'ft ft'ft 75% -76 ■ : 73%'- , • 2003 43% Af-N ft" —2003 38 - 43 V4 - -;■ vft ft*. 75 39% ' 50% • 75 52 44% . ftft 48 A-O ext 5s_1951 38 - - if-N 2003 Lehigh Valley Terminal Ry t ft F-A 4Z ■"'•; 87 88 108 983/4 1 ft •>' 115%; 66 "9 / ift' ft-1974 stamped .modified. ■'■'ftft-.i 115%,, 98 2 /■ ft 'ftft 87 - -87 -'*86;ft;ft 87 99 ft .■■ft/16 •ft"-'-- *100% 1974 5s stamped modified i 83% 83 100% 101'ft ftftft 87—87 - ■• '-a Lehigh' Valley *N Y 4%s ext. * ft'; .--1964 ft* 4s registered 'ft;4%s stamped modified. ' ftft 4%'s .registered ' •••' ft,.." Af-N 14 ''ft. ' ft i „_1964 ft Leh Val Harbor Term gtd 5s 106y» '1 ft. 100% .,"100% 101 ; , ' 4s .1961 ArO ' ftft; Lehigh Valley "RR— FirestoneTlre & Rub 3s deb^ tFlorida East Coast 1st 4%s fti'y V ; 99% : ft^._1954 ftftft'V: 5s stamped!—; ftft ___ft j' 1st dp ref sink fund 5s -'ft 5s stamped— I : ' t 1954 5s stamped ft1st dp ref sink fund 5s_ftft ft I 106%ft 105 __ '■ft • • i *106 102% 102% |,ft98% 99'/a Deo r "ft.'v ft" 90%^ 106'ft' 100% 100% .. ' •, M-S __ — - 95 *92% .. Jlf-S . *93 vVft J 103y* 75 . ( . 124% 't\ « | ,^127% Ill ..ft•'-••:•>* A- --ftAlst mtge income reg__. .1975 Lehigh' Coal & Navigation Co— ft, 8 P mtge 3y2s ser A_ ftft1970 .Lehigh Valley Coal Co-i-.ft ^ 157 - ft J-D t '120% 122%: ' registered——___— 1997 Lautaro Nitrate' Co Ltd— ftftftftftft ^0' Ltd—, •; I ^ ft^ ; 105%' 105y8 ft 18 J-J ——J-° «: 6s stamped--jj. - . ft '"• -6 • - >/•'- 5 '75*'-v 7 • ft 74 94% V 128 136 ya Lexington & Eastern Ry 1st 5s___^1965 A-O *128 ft; Liggett & Myers Tobacco. 5s__._._1951 A-O *114% 116 ilH'A i2oy« - M-N *118 > 118 • Jf-S Little Miami gen 4s Gas Si Elec of Berg Co cons 5s 1949 J-D ft General Realty dp Utilities Corp— ft'ft A4s conv inc debs 1969 M-S Goodrich (*F) Co 1st «/ » mtge 2%s_1965 ft Af-N Grays Point Term 1st gtd 5s 1947 ft J-D ;ft Great Northern Ry Co— r General S%a SwriflH B .ft , ^ ^ - General 4%s series D.. y2s series" E___ 1. ;if. ft , -ft 78 Ox. Gen mtge 2y4« ser P 2010 20 -r 11 :V "131 131 89 : ;• ft" .... 10 . ft - . 102% 1102y8 102% 98 ' s V.'k ft. r-J " on a/. ,:89 "89% ^ 97% • 98, . ft' ' 98 "oa • — •.. >2 ,99 ftj.07- } 50 94Va l00%V:J { : ,-/t/ 91% ,,.t 43 ft' ft86:'ft, < '40 • 95% J, i 99% , nn- . '. , <s* n/ J series A ^ 1975 ft'.ft 1st dp ref 3%s series D_ ft -; •''-r ■ v 8% Pftftft" 102%' 104% 100 107'A . ; 102% , 101 ^_2044 '• . 100%.101 • 66 66 r . 1976 | '' ! 7.ft,'. 17% xuo 74'.ift:.w-* •.•:r ■ , 77 98 .•..'-.ftvj.i 100% 100 V* ••". 115% 115% 114 120 A-O 104% 104% 103% 106 Ve M-S Cine Div Hackensack Water 1st nsack intge 2%s mtge 2%s__l976 ISAHousatonic Ry Household Finance Af-S -ft-ft » 104'A -J-D- -I960 1.1957 : I <• ift: . Michigan Central— vftft .;ft Jack Lans dp Sag 3%s 1951 .1st gold 3%s 1952 Ref &.impt 4V2s series C_w^.x__1979 Michigan Cons Gas 1st mtge 3%s_1969 12 99% A-0 ,TXU3 74. . Minn St Paul dz Sault Ste Marie—•„ 19% •ft 57 % 19% 19fo. Missouri-Kansas-Texas Prior r 4'5,-. ft i lien 40-year goid 4s. v 1st gold 3%s : s_ Extended 1st gold. 3%s. 1st gold 3s sterling. Collateral trust gold 4s_ ft Refunding . Af-S ft, -1952 A-0 :ft .1955 1955. ' _ Gold 3%s..—— F-Aft : 96 ft k > - ' ft ft j-j ' f-a For footnotes see page -1963 233, 100y2 T ";i 108 ;21- " 88 100%"ftftftftAftft 168 :; . ,93 't i ; v Ji,04%ft 3 ft • I" 108%' 1 . ft'"1' *72 ft. 100 '■ 71 Kv , 09 ye 103% 19 28 % A-O ... 1 ;; v'f 22 22 ../ft ' *90 ft/49 • 1003/4 102 3ftft, 101% 93 96 109 3/4 110 ■; ift- ;i-r ft 108% 104 .:• . 102% 102% ftft ft'Aftrs 75 Z". *104 ;.. . ft 06 *101 y2 io2 Jf-N ft'' " ft ft ft-i ?-V A-O 89% 103 87% 103% 104 Jf-N •: J-J - J-Jft.yftftVft1' 49 5 ,ft " 108 107 108% 7ft,: 49 113 97 *953/4 97 87 ft50% .ft - J-D 52 913/4. 80 ye 101 75 1013% 89 J-J 1962 J-J , Pacific RR C(H*. ft.:. ft '■ vftft'ft 90 .93 ft . ft/84 ft J-J ft " • 106% 40 . 853/4 , , 84 78 y4 ft 76 69 66 .1 98% % ft] ft 114% > F-A 36 Jf-S - 82 Jf-S A___.i4.ft-_.l965*- ^2% M-N - / ..ftft 82 . Jf-N 24 •ft ... , 82- y4 83 68 102% ft; 3G A-Q 38% 397 23% 83%' l\ 81% 276 65% 64% 103 81 Va • 476 ft/ 83 81% 36 . 68 ft 86 26% -81% J; - 83 24 y4 • , 82% F-A • 81% % A Conv gold 5y2s ___:—___.i-._-1949 'gold 5s series H-.-.1980 Alst dp ref ;5s series I—i-i—;..1981 'I 96 % 68 86% 84% ' A-O ~ IJo^ki& .Maltme 1st gtd boW As._il991 - / Monbngahela fey 3%s Series Bii_-_1966-- 63 173 83 77 .77 ft ft ft ft ; 4 ".ft ftiog;■ Morrell (John) dP Co 3s jdebs. 103 14% V • 463% ;; ft 66% 103 ft 65% 1023% ft " i i" ft, •- Constr M 5s series. A______..__1955 4,5t:onstr M A Vas series B^—,1955 - ft * ft: Mountain States Tel .; M-N J-D M-N M-N dp Tel2%s.._1986-- Jf-S 194,7-ft> M-N - ,'.71 .,.63% 101: 60% 58% 59% ,• . . 1 - .IMutUafEuel Gas 1st gtd. 5s - 70 . 62% 71 , 63 y2 105 *__ 100 'ft -2 60 - 102% 55 ? | 103ye. :i 103%/ ft] 745/a 10 653/4 89% 43 58ye lB33/e: 70 ^•100% 101 94 IO53/4 106% '- • ",102 % 103% 103 ft- 103 ft: ' 72 79% *105 3/4 107 F-A J-J . Morris & Essex 1st gtd 3%S-__.__2000 /- ; lo8* ■■-1-.. ft-.',- ^162 .7102%'' I ! 98%. ft-v-98%v' 98 %''ftft'ft I'ft'ft. Q7l^ lYiK-ftl -.1958- .*._ JM; ft Montreal-Tramways *5s ext_____—1951, ft '*99% 102 97% 102 */e 103% 103% '] } ' • l •' r % ' , , J-D ft- J-D !i' -v.;., v V :• *rV'*100% " — ft ft!' Jft j *101% 105 *101% 105 ft , D.. -• -,%''ftftr v-' >•'■ 97 ; r'97' ft'V'' J-D .. ser 96->-:-97 99 ■ V'ft'V 69 101 ftft' 1 ft'ft ' 93 %ft}'02%ftV -: ..ftftft1'.'.--';ft " .m.'ft'v■: ftift- 9!7 €106%,.. i: ft - . 74% 92% ■ " ■*9fi-s/«ftni7 J -J 106 - series A.— series B— A 1st dp ref 5s series G___^.___.^.1978 ' - mtge 4s y2 105 119 1017/s 92% Alst & ref "98 ft, 99% ftft-:14ftft'91%,108 ft', ft"^'97%i;;'97%:ftft-ft-"2;.'ft': :88'£:;l07ftftft- f ',' •;--;-3ft llift-,99 ft-i06 ft.ft - <«•;."' F-A J-J • '• ^ ft J-J Springfield DJv 1st gold 3%s ..1951 Western Lines 1st gold 4s .-.195J Registered ' 1st ttt I ft. 80% 'ft "79% ■i811/4 i ^ J-D : J-J .1951 Hi Cent and Chic St L dr. N 6IT y Joint 1st ref "5s series A ^ -1963 ft ft f; .101% 102' . J. 100 '4 97% ft,, M-N ft ft- — 1 99% \ M-N J-J ft „ *101 • • 73y8 'ft. 71% *101 Jf-S li ^'General 4s _4i_____.1975 * .ft Alst dp ref; 5s series1 F__ft._ft__^_1977- ft' Jrjft.ft':; M-N ft ft 1 -1953 5s_...._. lm« . •7100 M-N 'ft.. „ -.1952 40-year 4%s^ —.1966 Cairo Bridge «old 4si—--.i—j.,1950 Litchfield Div, 1st gold &s—ii.*l95t Louisville DJiv.dp Term gold 3 y#s-1953 £4mTaha Uiv Jst gold 3s 1951 St Louis ply dp Term gold 3s—..1951 .102 :*io4 ..f:[,aikj& WA " &aj\a A-O ft ""ft . -1951 4s__: Purchased lines 3%s Collateral trust gold 4s . J-J t-.y.'f}** 3 J-J -1951 Refunding » V<1 -1951 103% 104 " RR— 5s 4s Alst dp ref 5s series .1951- ■' <; ^F-A>;:ft,f -ftftftft—-ft: ft; ACum adjust 5s series A—Jan 1967 fMissouri 1st • • —1962 Prior lien 4y2s seriesftD______~1978 UwTjV,* AjV'ft.l. « 113% 111 ye *111% 1137/8 *1003/4 1st mtge 4%s inc ser A____Jan 1971 .'■.ft*"""' H£S.^S?^J*"er,a,A—:1981 Illinois Central RR— 94 102 y4 ft A Gen mtge '4s inc ser A„__Jan 1991 Mo Kansas dp Texas 1st 4s_—___-_1990 %,' 113%i. 56. W 80 % -v ,1 220--V: : ft 230 20% 4 ft ..;v.,v-109 v- ft 56 % ft fv. 56 Va %J 1043/4 :■ •*103% ;'4ftJf-N.ft"ft:ftftft,iiiyft ftftJ-OHftftft'ftft#di;vft fttfAMidland of N J 1st ext5s_.-—1940 104 , ...s;-:'-- v.- F-A .Feb 1957 ft; . ft, J-D (Southern Lines) 4s__1959 Corp 1st mtge 3s 1966 Metropolitan Edison 1st mtge 2"%s_1974 Metrop Wat Sew dp Drain 5%s__—1950 11 J § A Met West Side El (Chic), 4S-1938 98% 101% ft A_ Mead t 104 ser AManila RR m - M-N ■ 107 c , M-N ,M-N Hudson Coal 1st s f 5s series A ..ft 1962 Hudson Co Gas 1st gold 5s_..____l949fts Hudson dp Manhattan 1st 5s A .98% '•tyfirtyj98% Jf-S Jf-N "'ft-. X'itf wft-ft,' 1955 1st mtge dp coll 4s ser B —^1954 Manati Sugar;4s sink fund__Feb 11957 ' ' 68 ? 67V2v r.ft. 15 101 107 A-O •r. 1980• i 4s 107 A-O ..2003 3 L • 104% ,107% M 139% 139% ^10 ft 135.$',150. I ft;ft ft *87% 100 s.; ' ■* "ll ^ 89%t 104% - ^ JS ft--" :ftvftftft -ftft >ft 100 % 101. 'vft'ftft:'98 %; 104 %ft: i"; J-D ftvft.ft 82 82 . : 83% -ft ' 32 ft:' 75%ft94 gold 5s—1937 5s. 1937 Corp 2%s 1970 AAdj income 5s 101 J-J . cons ,ft 107 -V. 2003 — Hocking rVaUey Ry 1st 4%s.^^.^l999. Jg Valley 4y2s , F-A ft series F. Maine Central RR 4%a . -ftft 14: . 67% 107% 107% .1963 • 79 ftft. 102% 102% ft 6 T"J^'ft :ftft,^:;-i."'ftft''^84 %: 95:: ftftftftftftftftft 1969 Gen mtge inc 4s ser B w i. Gulf States UtU 1st M 2%s **"■ 1*J 2015 ft\f ftft*7% 103% 103% 104% -*104 . 'ftft- .-J '.- 118 107 , AO ; . ..... Gen mtge inc 5s 1st dp ref M -3%s Atl Knox dp f , Gulf Mobile dp Ohio 4s series B . . .1966 " r-J. A Green Bay dp West deb ctfs A ft,;.1 A Debentures ctfs B 'ftft:> ft Greyhound Corp 3s debs „1959 .1951 te**: >*104-105 M-a 5s--- ftft lst dp ref M 2%s ser G__ K St Louis Div -2d gold 3s^ ft ft ; 120 « 134 V2 3 teft;ft3' 106}8 110A (P) Co deb debentures , 1033/4 Jf-S .1940 Louisville Gas, dp Elec 3%s._ Louisville, dp Nashdlle RR— 122% 140% 33 106% 166% — 115% 129% 3s .11949 4s. stamped Lorillard V 102% ft, 10 13J . 127 " 127% ^ •,,,, 2000 R ^—^.....1961 ser 71 101% 105% 102% ^116% 116% , J-J * _ , ' 1982 ser Q 79% — N__L._...^_1990 ser 78 *100% v - «. 102% 102% . , J-J - .. 4s J-J * "ftl 1977 ser Gen mtge 3%s ft Gen mtge 2%s t;Gen mtge 2%s -|QS7 -.1973 I976ftft 4 Gen mtge 3y8s f .. .1949 * *, 4 ft General 5s 'Aeries1 C-- *101% __ series A—*__1962 Long Island unified 4s. Guaranteed re.f gold ft 100% " ;' ftoQi/ft'i a« I/. ' 82% " 93 Va 86% -88% '•■;• ft "82% . - . 92 %', ft.- :91 %" -v 97% f .! 5 82%.ftftt'ft:.', l";ft Nashville Chattanooga A St Louis— ' 1st mtge 3s ser B__: National ;'ft70^ftR6%;:y Dalri Froducts 2%fl defefr-1970 National Bteet lat nMge l ANaugatuck feR 1st gold 4s 98% J-D , .. ...1954 98% *103% 1033/4 A-O 105 Jf-N *101 - 105 — r. 98 103 3% i 1013% 1P53/J, j. 103% 106% vf 106 110 Monday* January 13, 1947 NEW YORK BOND RECORD RANGE. FOE WERK ENDING Friday BONDS Inferos! > N««r York Stock Exchange 1 •••• 1 --V- : : i • : < Last : or Sale Priea Period 5s_ If ANew England RR gtd 5s. IA Consol gtd 4s •New England Tel & Tel 5s A 1945 J -J 1945 J -J Newark Consol Gas • eons 1961 • F-A Jf-S - 1983 J-J 1952 J-J 1953 ™ : -ACertificates of deposit V, A 1st 5s series - A 1st1 5 Mi s ACertiflcates . of series ACertiflcates % .,7 — of 92 12 82% * 94% P-A 95 95 " 91% 107% deposit N J Central RR 4s, series A... 1998 * * «ef 8c impt 4%s' series A ___2013 & 5s series C.1 —_:__20i3 i •: i N Y^Cent 8c Hud River 3%s ?%«• registered .... t Lake Bhore ■ coll . 1997 i 1998*"* ..—..1098*'* ___ 3 %S registered „ 83% * J-J 75 P-A 4 841/2 7 97Vi 7 /' 7176 ' ; 80% 102% 90 * 114% 94 > '10 . '7,7: 22 77 88% 109% 77 1 100 \ ' 94 . •198 75 76% 75 "75 Vi- 72% P-A 70% 99 77 Vi" 75 Vi" ;"*—*' P-A .72%;; 99% 73 7 . ,/ 7 1st mtge 3s ser P " 101%; : 100% J-D 1980 ./ N Y Conhecting RR 2%s NY 1975 B. 1st' gold 4s——_I___ Dock ser '58 106 -1951 .i. 1965 ! 1966 Mtge 48 Mtge 4s <77 N Y Lack series series Vi 103 16 A-O 106% J-D *107 P-A Jf-N ♦100 J-J *106 -*7 98% "105 102% 104% 105 y8 *105% 106% 1948 2000 B 1973 »'>:7. -__u^.l073 > . * Jf-N '■Mk 111% 109 106 ; 112% 7 118% 7 IN Y New Haven & Hartford RR— j ANon-conv 4s deb 3 Vis ANon-conv deb < . deb A Non-conv 7 3Vis—_._-i.-1954*" ANon-conv deb 4s A-O ''>■ 38 ; . ANon-conv deb 4s ..i960 7 ADebenture certificates 3Vis„—1956 J-J 4 A Collateral ,- r trust ADebenture 4. A 1st 6s 1A Harlem River & Port Chester— ; 1st 4s— , , A General N Y N Queens El Lt 8c Pow 3Vis Y Steam 15AN Y Niagara i960 AGen mtge 5s conv inc —2014 Norfolk & Western Ry 1st gold 4s_1996 1,016 5% 475 4% 27 v ——1965 -1974 1974 Northern Pacific Ry prior lien 4s-_1997 4C 10AI9 4s 1997 registered , Gen lien ry & Id gold 3s Jan 2047 .2047 registered Ref & 537; 7.:,' ref ref ref • 91%, 96% >,i 18% *108% 7 104% % 13 V' 103 19% _.;;:7 & 16 7 "2 . — 101% 7 99% *103 95 7 cons Rochester 109% 1949 & coll trust 4s A /: 105 V* 109% 77" 66 .7 66 7/ 101% 104% 7,7,26 •- 138% 143% jr-s — *125 , ♦120 Jf-3 1975 7 \ 39 110% 112% 112 Q-J 132 . *102 Q-J Q-P Q-A & Gas Elec ■y'SJ J-J •797% M-S .1974 P-A 128 133% A-O 108 94% ■"7.1 68 ; 98 7 7' 90 12 101'/a 102% 49% 13 13 2 15% 3 10 14% 14% 92% 94% APrior 101% lien 5s ACertiflcates 106% 77 ACons 4J/aS M 103% 103% 105% 100% 106% 105% 77? 102% 103% 101% 109% ♦105% 108 ■: ' 4s 908 36 50% 186 37% series B.— 7; 438 38% 78% of 50% 50V4 54 41% 77% 37 l/a 7 40% 7V: 55 38% 1,180 27% 52% 27% 52 V. deposit, series A; 1948 j-j ■: 19 19 M-S 106% 106 A-O 102 101 102 101% 1975 P-A 101 A..1960 ser 5 106% 1975 A-O 105% 106 V*J° ' 14% ,104% 36% 39 %• 108 89% 91% 676 90% 92% 52% .2022 52 56% 931 53 55%,;.:. 7r 90 100 100 105 7.11 104 7 107 V* 7 .. 1st mtge I5ASilesian-Am Corp coll tr 7s J-D 1970 J-D 1st & ref M 3s series K. 1971 J-D ..108 3s series L. 1974 J-D 108 3s series M. 1979 J-D 1st & ref mtge 3s ser N. 1st & ref. 2%s ser P 1977 J-D Pacific Tel & Tel 2%s Paducah & 111 1st 1981 debs. J-D 1985 gold cons 5s 7-77' 108% *106% 107% 108 108% 105 Socony-Vacuum Oil 2%s South 8c Nor Ala RR gtd 5s__ 109% 109% 2 105 105 110% Southern 18 105% 111% 3s 46 105% 111 2% 103 % debentures 100% 102% 53 100% 107% Southern 1st mtge Southern Indiana Ry 28 103% 104% 107 7 111 Co— Pennsylvania-Central Airlines— conv Pennsylvania Gtd 4s inc debs_.__ E ....I960 1952 Pennsylvania Glass Sand 3 Vis .,1960 Pennsylvania Power 8c Light Co— 1st mtge 3s .1975 3s s f debentures Pennsylvania .1965 \ 1948 .May 1 1948 64% 177 54% 113% J-D *104% 102% 1st mtge | 125% 107% 1st 1941 85'/a 85y2 105% 106% 4Vis General 5s series A series B General 4 Vis series D Gen mtge 4%s series E__ 3%s _j___ Gen fetge 3 %s ser Jf-N 16 103 107% 2%s ser E 2%s series F__. G mtge 2%s ser 102% 105% ■ 103% 107 ♦103% 103% _. gold 5» Devel , Mem 8c Div gen 6%s 1st gold 5s St Louis Div 1st gold 106% — Devel & gen 4s series A & gen 6s : 22 103% 104 " Jf-N -.1965 1976 102% 1994 4s— 1994 1956 .1950 —1956 1996 ..1951" P..... P-A 4 119 102% 99% *99% 99«/2 117% 117% 118 35 113 128% J-D 124% 124% 124% 12 120 139% A-O 118% A-O 103% 117% 118 117% J-J -1S52 -1988 J-J 100% ; 56 100% 97% 126 97 y* 80 5 33 V, 25% 101 97; ,?0 112% 135% 117% 118%'' -T5 112% 135% ASpokane Internat 1st gold 4%s—2013 Stand Oil of Calif 2%s debs 1960 Standard Oil (N J) deb 2%s——1971 102% 103% ,39 101% 111% Sunray Oil Corp 2%s debs 1,00% 101 28 .99% 107% * I Swift Jk Co 2%* debs— 1966 1961 1 V* 55 *96% '■ 105 ; 100% 129 • 98% "106 106% 112% 100% 108 94% 114% 90%. 106% 97 , 92% 82 99% 110 Ya 107 105 6 106 21 90% 102% 88% 94% 89 V* 131 84% 93'/a 94 94 y2 6 91 97 108 116 145 93 125 Va 128 127% ( 108 y4 93 85 98 97 97 98% ; 98 102 101 101% '• 102 101% 102% 70 98 109% 115 113% 115 18 107 ,123% 119,; 118% 119 8 1157/8 116 11 110% 128 122% 105 ::* 105 • , 98% .102% 98% *_. 102 102 1 - 1 ■54 ; 100% 107% / V 1 44 / 67% * 104 29 102% 102%'/ 50—50 ; 109% ; 135% 104% *105% 107% Southwestern Bell Tel 2%» debs—1985 .1984 41 108% 108% 102 y2 103 103% 131% J-D .1981 93% -15 99 1986 —1998 _1961 1960 121% 90% 16% 19 102 Va 99% 1963 .1965 121 101% 56 • 93 94% RR Co— Southern Ry 1st cons 1 104% 104% 106% A-O 97% 388 98 V* 104% A-O 132% 48 74 / 98% .1968 Cons sinking fund 4%s Conv deb '■ 7, 62% *108 Devel gold 4s 4s sterl stpd dollar.. General - 62 % M-N RR— Consol ,r. A-O , 19% 94'/a 98% 1977 - Pacific 1st mtge trust ctfs iooy4 '71% *18% 72 M-100 100 .1935 1969 1981 1950 4%S 4%s Southern Co— series 106% 129% .-•» (Oregon Lines) A Gold Gold 107 107 y8 106% 1067/a Pacific 1st 4%s San Fran Term 1st 4s 3%s •• 63 y2 105% .2016 1979 _1985 debentures 25 *104 , 114%* 35 18 39% Tel 8c Tel Co— 103% 103% 104% 105% , — Bell 102% 103% - J-J M-8 108% 108% 103% 105 110% 13 108% 108% — A-O 1955 1949 4%s_r_i J-D .1986 f s *108% : 2%s debentures Paterson 8c Passaic G 8c E •7..7;, 93 62 112 .1996 4s ser A_ Skelly Oil 2%s debs 1966 63 6 82 Seaboard Air Line RR Co— Co— ref mtge 3%s series I. 1st & ref mtge 3s series J. 100 9 Seagram (Jos E) & Sons 2%s debs 1966 Union Oil 2%s debs 1971 1st & 120 85% 10 106 30 % 100 1 102% 102% 1989 Nov 1989 unifying 5s_.,__1952 gold 5s series A 1990 St Paul 8c Duluth 1st cons gold 4S-1968 ISASt P & K C Sh L gtd 4%s 1941 St Paul Union Depot 3%s B .1971 Scioto V.&NE 1st gtd 4s 1989 108% 75 : 37% :__,1997 ctfs : 90 deposit stpd..—. A w i___. AGen & ref r|,.-4V|W*'«^|e <1 J-'"r i 73 54'/a bond inc 73% 51% ISt Louis-Southwestern Ry— 7, 1st 4s bond certificates.. A 2d 96 50% 4%s ser A w i ; 2nd mtge 1 47 A Certificates of •■^ 97 "-;77"' is t ■-- 100% 102% 87 47% " 112 97 107 103 98 > 94% t/ 51% deposit Shell ref M 24 47% of mtge 4%s ser A_. tASeaboard All Pla 6s A ctfs. 1st & 20%,- 48J/a APrior lien 4s ser A— 112 13 68 i»- •'•■• !;' 90,7V 90 Ry fSfc Louis San Francisco ACertiflcates 90 90 97 1 104%; 104% AGen M 74 9 110 1021/4 1974 mtge 3s__^. Oregon-Washington RR 3s ref 109% 42 23" 48% 90% 44 69% 96% jr-a 2%s 1st & 125% 108% * 107% 110% *108 gold 6s—-_i St L Rocky Mt A iP[»5s Stpd„ 122% 69% 64 73 69% 103% .1964 Oklahoma Gas & Electric 2%s , < — 2d 127% 105 ■'101% 110,7 71% 103% .1975 2%s 1st mtge 3%s. Electric '7? 109 109 -.77 13 1st mtge 4s ser 1st mtge 2%s. & 115% 7.7: 88 125% *109% *107'/a Saguenay Power 3s ser St. Lawr 8c Adir 1st gold*6a ' 101% Gas 49 77710 7 71 O Pacific v 96 7 ; 48% Co— 4s 105% 99% 777-7/ 109% 143 101 % guaranteed 105% *102% 102% .1964 77I5ARutland RR 4%s stamped. 35% 101 mtge 110% 165 251% 7773 49 108 lOgdensburg & Lake Champlain Ry— 1st 100 107 y4 7'7;.777' 163% 163% §Alst term & 1st 112% 240 *107% ' 3s. mtge 5s ratga 8s. mtge Reading Co 1st 8c ref sy8e ser D..1995 Revere Copper 8c Brass 3Mis I960 ; ISARlo Grande. West 1st gold 4s 1939 7"?-.,,;7 A 108 108 108 % V lARut-Canadian 4s stpd 100 17 131% 102% Ohio Edison 1st 45% 7, 15% *95% 110% : i ♦109% 107 112113 "7/7 16 15 AR I Ark & Louis 1st 4%s, 53 102% mtge — -V 102% > 105% :-:; 107 • *111% Corp— Gen mtge 4%s series D. '<»•''.% Gen mtge 3%®/series B. t,Gen mtge 3%r series 1. Gen mtge.SMis series J. 32% 95 165 for'. ' A 1st 75 45 J-J (Wise) 99 100% 77 *100 ; 42 10% 43% 41% J-J (Minn) lst \ r 41% 2047 Power 127 " *118% V - 135% v7 133% 135% A-O .2047 Coll trust 4Vis States 105% 127 ■' ♦125 :7 : 90% 7 | 107 V* ' 33 , • 7 37 ' 12 XI 2047 Northern 88% 102% '7 88 102% 127 107 Quaker Oats 2%s deb—.— 77 104; 408% 77, impt 5s series C impt 5s series D. Ref & ; 91%'; 91% 106 106 102% 7 88% 103% \v; v \f; \ 106% 100% 73 735 impt 4%s series A Ref & 103% : •7/7/;;,;/ North Central gen & ref 5s__ Gen 8c ref 4Vis series A_ 3s * . B1 Va 104% ' 993/4 105 7 7 100%TOO% " *105 " 105%" •*105 * 7 .^ 777 *91%" 98 7 Norfolk Southern Ry Co— , 109 x 102% ; I .26% '15% 4 75777: *— 7, 35 7 18% 102 't;:,;*: *102% ;7|. 111 9% 1 " 93 100 SI' A-O 3 Vis 7' 104% 104% M -M Power 66% ■: 13% :-;._7" 7: •„ Jf-N 122% 142 1 50% 106% 106% 7'^;j;7 J-J ■118% .138% 46 ■}jm 81 34 P-A SATermlnal 1st gold 5s —1943* ISA N Y West & Bost 1st 4Vis ^1946 Palls & & .4 7; 17 ioi% ... 7 125 127% ; 107 77 m 135 7-t 7 IA Providence Terminal 4s, 1st \ 75 83 37 102% 103% J-J" ■ 268 7 106% P-A • 227 *73 • 30 38% .10 102% 77 "103% M-8 78 32 70% 11 5% 77 29 77 41. 13% J-J 1940 55 102 M-N __.&937~* .1937 " _ 7 A-O 1963 S A General gold 5s 7 ' 30 32 "".""79'7* : 45% '',r>'.; M-S *103 " , 134 y4 118% — 75 75% V 78 V:7-77' 18% 19% 77, 43% 70 J-D -.1965 1st 3y2s Siisq & W ist ref 5s gold 4Vis 5 A 2d •'•! Corp 41% 5 40% i't: 127 • , 123 120% 125 .. 77% -5 .7' 38% 77 44 Jf-N 1953 N Y Power & Light 1st mtge 23/4S_1975 N Y 8c Putnam 1st cons gtd 4s_ 1993 38% 38% ,7 736% 45% 7739%: 18% > June 1992 4s • «1st 30% 42 40 7; J-D 1954 IAN Y Ont & West ref 4s 7 39% ;■ ■hi-. :• M-N 1957 1927—1967 " 738 " 7 38 .'•,■• A-O 1940 . 4s 8c ref 4 Vis series of Jf-N >7125 .. 122% 116% 124% *118% Public Service.El & Gas 3Vis. 33% 20 ; 38 7 J-J * 194a , 737 1 39% AConv deb 6s ; 7,38 ,7/ J-J 1953 . 103% 106% _. *_. 127% 21 102% 105% , . 118 *119% 1st mortgage 3 Vis. 77'7:; 1st 8c 66% *39 Jf-8 M-8 - 26 riO% 13 .. *109 IA Providence Securities 4s 7 ' " .1947 —1947 *103% 9% 15 10% *,.. - : 13 104% 104% Fa • 103% 76 : 7 ; , • 9% 9%, .'• Potomac El Pwr 1st VL 3%s 115% 115% 105 • 119% 71%' : 96 *71 Ya 75 ♦79 :85 ., 107 107% 106 *105% 109%"" Jf-N A 114 105% 105% >. J-J -2043 ; 4Vis series B <•/ 69 " 2043 West 4s series 107 . 102Vi 1949 A. & 98 100% 102 A-O Purchase money gold 4s. .NY 8c Harlem gold 3 Vis. 102 „ 103 102 6 1st mtge 4%s series B—--..-^-1959., ftv-.'1st mtge 4y?8 series C 1960, Pitts Young 8c Ash 1st 4s ser A—,1948 7;' 1st gen 5s series B——„——-1963 7.1 7' 1st gen 5s series C ——1974, •*" 1st 4%8 series D—..—~..^...^.1977. ; 7 APittston Co 5% Inc deb. ,1964 . 93% 100% 31 • ' 1st lien 8c ref 3 Vis series E__ N Y Gas El Lt H 8c Pow gold 5s_ ] 77"96% ,3100% A-O P-A N Y Edison 3 Vis series D *>; 95 96% A-O _1986 107 102% 103% . * 7 102% 103% M-M E——,—,—1975.. 3%s debentures i 108 103 31 104 V ; Pltts Steel 1st mtge 4%a,. 1950 'i:: / 1st mtge 4%s series B_...—r.1950 Pitts & W Va 1st 4%s series A-._:-1958 ;w% 105% 108% Vi M-M *,.. Consolidation Coal-— Pittsburgh ' 125% 135 .4 16 104 Pittsb Coke & Chem 1st mtge 3% ■-1984 ; 142% » ' 104% 104% 104% 104% 4%s Gen mtge 3%s ser v; ■t; 98% 105% 5> 7 107 Va 108 JV * 97% 73% ;■/' 3 • 95 ; 4s cons 106 *6 125% 125% J-J J-D ^ Series J cons guaranteed 4%s Pgh Cine Chicago & St Louis RR— ., 7- Gen mtge 5s series A—— 1970 Gen mtge 5s .series B—; .^..1975 ^ .y 98 % : » ~ 1 ;; 65; ; 77% 96 96;r; —.1998*; P-A ; New York Chicago 8c St Louis— Ref mtge 3 Vis ser 7 • gold 3,/2S____._1998'" 3 %s registered Mich Cent coll gold 3.%s . i 1997 • 76% 75Vi : 77% A-O A-O J-J 73% 83 y2" 75 y2 P-A I 94 83 107% 34% 3, •r, 137 ;" - ' r G Series • 103% 103 Series H cons guaranteed 4s; , 7 37 - • %,L guaranteed..... Series 7 95% 109% 84 19 '> • 37 V-:i7;.7;7 ■ 104 94% - A-O " 1954 • High 106% 102 F-A J-J- „ -62% •*106%. Pgh Cine Chicago & St Louis Ry Series E 3yas gtd gold i / Series P 4s guaranteed ■ gold- ; 106 " 80 ^.1964 Phillips Petroleum 2%s debs 106 83% 108 f: 95 ■ -« •: *88% 1974 15 APhilippine Ry 1st s f 4s ..1937 ^Certificates of deposit^-.....^^. 90 81% 109 V 1967 1 / 1st 8c ref M 2%s^:— 1st andxef 2%s ,: 92% "83 deposit A. 111% ' 73 20 91 Vi *"*■ . 103 84% 90% - 1 7 -103 . Low -11 7 67% 67 ■ M-M General gold 4Vis series C.;.,.^.1977 Philadelphia Co coll tr 4^18...—.1981. Phila Electric 1st & ref 2%s—.1971 108% 87 92 91 Vi ;• • 86% 85% <*— 104" - ^..1974. General 5s series B_.—j . . 5 105% io5%' 5 Vis..—1.1974 ' Year 1946 No. 101% ioi% .. P-A Phila Bait As Wash 1st 108 - .Range for ■ Bid A AAfe Low High , Apr Ry 3%a ser Dj—1980 gold 4s— pere Marquette ; 118 100 105 Va 105% > T-A —1950 A 1st AVis series D : ; — 1 7, 127% ■; A-O Apr 1990 Peoria 8c Pekin Union Ry • 107% 110 ' r__^ A Income 4s 103% ".7108 Vi 114% 16 — 1956" * of deposit 105% 7 123% ■A'mU. ;.1187 l , ; *103^1 105 —u ~ ; L' 85 -v. - *107% 108 Vi •' — . A-O of deposit C_ series A Certificates '" ... 5s ... M-J .1947 —I960 Peoples Gas L & C ref 5a. Peoria 8c Eastern 4s ext k 88 19': 108% 109%,' l-O ' _ B_ a Certificates A 1st "9. 84 81 Vi 81 80% > J-J INew Orleans Texas 8c Mexico Ry-lANon-cum inc 5s series A 1938 > 71 f " New -VXXWHUJ Great IIVI 5s A Grleans VJJLCttV, Nor OS N O & NE .1st ref At imp 4VaS_. New Orleans Term 1st gtd 4s High 106% 110% — .123% 123% 123% 7'__-.v."120 V Low • ' 1974 P> L 1st mtge 3s k 81 '109 , Jf-N .1986 1st gtd 4%s series B_—... if J Junction RR gtd 1st 4s New Jersey \ ; V V J-D .1952 • ■alePriee Year 1946 7 No, High Low *106% — Week's Ranga »r Friday*! >• • Last. v 7 •,: ■ Rxekaag* Sfeek York New Range for SOld ' . : ; / J-D Friday BONDS Bonds Friday's Bid A Asked >\ ,7',. 1048 JANUARY JO Week's Range , 107V4 97% «.99 % < 103 - 103y4 ' 101% '106— Volume 165 Number'4559 THE COMMERCIAL & FINANCIAL CHRONICLE NEW YORK BOND-RECORD RANGE FOR WEEK ENDING JANUARY 10 .* ..v •*. Friday Interest Week's Range Last Period or Sale Pried Friday's Bonds ; Bid & Asked Low V.'F , - Friday Range for ' Sold High - ' Low Last Period Bale Pries High Wabash RR Co— 2019, 128% a-*-; ,105% 105%: ,106% 107% Texas St New Orleans RR—. 1st St ref M 3'As ser B——_—19*70 r 1st -fcref M 3%s ser 25 . :.102%10234 ;... 98 ' 98% 13014:130 ft . 35 93 - 1 }■ 102%.103% » . 127 7/a 41 i Trenton Gas St Eleo 1st Tri-Continental Corp 103 { Friday's Bonds Bid St Asked Low i, 6ft *-^ ,. gold 6s—1949 2%s dobs—1961 * 33: 66 ... 100 : i \ . 100 > — 10.1% 109 105% -48 : 105% ■a-.'.." 110 1017/a 1017/a C) 4 82% 110 100% Range for Sold High Year 1946 No. Low High - j. 5fts : Jan 1981 ;r r,:;., 90%, 90% •-+- Jan 1991 84ft 84ft 1971. 3V«t-1970 97% debs 97,;, 98„ . a 87 102 83% 85 ioo%;ioo%.. 99 10614 91 ;1 i 95ft 10714 .;„ i « ■* 106*^ — — 103 v. 65 ioi a,; ,Fioi%; .a08% 108% — Va 103 105: , ; v ; ■ | jrj Hi . , i Union Eleotrtc Co of Mo 3%a. 1st mtgo coll tr 2%s—— tSAUnion Kiev Ry (Chic) 08-. Union Oil of Calif 3s debsa—. v r'/.2%8' debentures-: a———V Union Pacific RR— ; ; i f, 1st Ac land grant 4«—— rt ■; 2%s debentures —. a Ref mtge 2%s seriea Ci-— | Unitad Biscuit 2%» debs—,—_ i U S Rubber 2%s debau. 1 Universal Pictures 3%» debs— : " Af-N .112% 112% *103% 104'/4 A-O -1945 A-6 >*— 13 109% 112% 102% 407 ^ 34 3.4 34% -1967 /-J -no4-::^ —1970^ J-D .-102% 102% I '5 va 101 105% I 13 loi ii 104% £ 102 I . '• :-40114 101 *104% 104% 97-ft- 97% — •; 107%.; 24 '4-> 93% 99% <> 1 ', 5 ' 101% 104 % 10; ;-99 101% *102% 102% 100 100% 101% 101ft 10 a: 99% 104ft > Registered ■ V » Wheeling As Lake Erie - Gen-As ref M RR 4s A ■/ v' 1992 Wheeling Steel 3 ft series C •% Wilson & Co 1st mortgage 3s_ t Winston-Salem S B 1st 4s„— fr§ A Wisconsin Central 1st 4s 1970 100% 65 ; 104 > 63 ft 04ft;. 91' , 109% :: 103% 108 102ft I960 ..1949 81% A Certificates of deposit 8 AStf At Du divAc term 1st 48—1936 a Certificates of deposit——... i. Wisconsin Electric Power 2%s_ 1976 ;;80% 82 ■ %r65 '22ft ; 22%' ^*20 ft_^ra»ioij 101% ..a -i,/ *100 100% ' /;,Vandalla RR cops; g.4s series A—1955 Cons s f 4s series B1957 Virginia Eleotric Ac Power Cd— / 1st Ac » / .! 1 ref mtge 2%s ser E -1975 Va Iron Coal Ac Coko 1st gold 5s__1949 Va Ac Southwest 1st gtd 5s 2003 1$4 COn8 5s C 1958 Virginian Ry 3s ser B_ : 1995 *103 '103% ,100-/4 100-/4 *106% 110 103-/2 103% 105-/a 106'/a iiSIISSfSiNEW; YORK CURB EXCHANGE WEEKLY AND YEARLY RECORD NOTICE—Cash and deferred delivery sales are disregarded in the week's a footnote in the range unless they are the week in which they only transactions of the week, and when occur. No account is taken of such eslHng outside the regular weekly range are shewn sales in computing the range for the year.: In the following extensive list we furnish a complete record of transactions on the New York Jan. 4, and Curb Exchange for the week ending the present Friday (Jan. 10) beginning on Saturday, It is compiled from the whether stock or daily reports of the Curb Exchange itself, and is intended to include bond, in which any dealings have occurred every security, during the current year. / ■■ in .._ ' ? 1 < i .. H:•..i*'FF\' ":F" r ^i;/'w'F?::'';r::;:VRANGE STOCKS New York Curb vFi'. ;V%Vt Friday Exchange Last Vv/--. 'ar D F _1 10 Co Aeronautical Products Inc Mfg common (N J) Investors common i0c preferred Air-Way Electric Appliance— Alles & Fisher common— Allied Int'l Investing $3 conv pfd. Allied Products (Mich) common.. Altorfer Bros Co common ^" Fv- Aluminum Co < •» -1 -5 — Ltd Car — 28 ft 14 1,700 26 ft 10% Nov 100 10% Dec 3 — , . — ... ,4%. — 8% 5% — 5 5% 6ft 86 ft 87 — -j. 4ft — - t4% 35 — ''83,900 10,000 1.000 - 40 17 17ft 22% 4% Aug 84 : Dec 10ft 350 15, 10 21 Apr 23ft Feb 5% Feb: 38 Aug F 17ft Jaa Dec v —106% Dec: 3,8003ft Dec — . Oct NOV T V 4ft ■•'F/--i'"'-/--,.'25 17 , ' 7% Dec , Nov 7% Feb Oct 11 Jan 5 ; a / .12 Aug May ; Common 6% class Gas A common- 1 Industrie&~- dep rects Associated Laundries Atlas Coast Line • Co —50 Corp warrants Plywood Corp Atlas Automatic Automatic Voting Jan Avery : May 15 Mar (B F) 6% 1 1 Machine St Sons —* —5 common preferred 25 Ayrshire Collieries Corp 1 Feb Feb Babcock <fc Jan Baldwin 5% May Apr Wilcox Co Locomotive— Baldwin Banco Rubber de los & Basic — American Metal Products American Meter Co Co— 25 25 Refractories series preferred American Thread 5% 1 Inc 2.50 Beck (AS) Shoe Corp__ Bellanca Aircraft common Bell Tel of Benson ——1 1 Canada 100 St Hedges common— • Convertible preferred * Berkey & Gay Furniture ——1 Bickford's Inc common 1 Birdsboro Steel Fdy & Mach Blauner's 1 2 10 new Co com.* common—— 3 Blue Ridge Corp common——. 1 $3 optional convertible preferred—• Blum (Philip) Blumenthal Bohack 7% com 1 1 25 Class B Corp s—5 Inc 25 American Potash St Chem class A—_* Republics 1 i. common 20 * American Seal-Kap common—; Amer Superpower A F- -——— Seelig Mfg— convertible Mills ; 1) ■ (L) & Co common Beau-Brummel Ties com General Corp common—10c $2 convertible preferred 1 :* $2.50 convertible preferred :—1 American Hard Rubber Co common—— . Bauman American Maracaibo Co common , Beaunit American Laundry Mach American Light St Trac common 6 % preferred American Mfg Co Co Andes— shares J. Steel Corp $1.20 1< > 30 American Barlow preferred—L. • J> " • preferred Barium American Fork St Hoe common American Gas St Electric 1st & (S) (H C) & Co Co Inc— Co * common * 1 preferred 100 Borne, Scrymser Co 25 2 10c *. Bourjois Inc Brazilian Breeze * Traction Lgt St Pwr preferred 5 American Writing Paper common—_5 Anchor Post Products 2 Angerman Co Inc common— —1 Anglo-Iranian Oil Co Ltd-r ; /Am dep rets ord Angostura-Wupperman * Bridgeport Gas Light Co—.1 Bridgeport Oil Co 1— British-American reg—— — Apex-Eleo Mfg Co new common 1 Appalachian Eleo -Pwr 4ft* pfd—100 For footnotes see page 237, Corp Brewster Brillo common Aeronautical Mfg Ct> common £1 1 for Week Shares Low High F 6% 7% ..F2,800 Fsft 2,300 314 Range for Year 1946 British Am 4%, -4% 4% ^ . 5 Low* - Oil Co„.—i——— American Tobacco—r dep rects ord bearer Am dep rets ord reg— «1 XI 1 High 15% Jun Jun 3% Oct v:'.Vjf-8 Oct 8ft Nov 43/8 "5% 8,500 10% /■ . ;; 112 t/ 12% 10% V 1,100 9% Sep 111% 112 12% 12% 20 110% Oct ' 900 11% Nov r: IQ% .10% io% : 2,3oo ;' 114 Dec 54 r ; Dec Dec 6 Nov 24 6% "? 6 ',3% Feb 26 Ye Oct Jan 'FT3% Apr 38% Maq ,'i- 18% Jan Dec Oct Jan * 91 v IOV2 , Nov Dec Jan 16-/4 Jan 25 14% May 12 ft May 11% ' Oct •' 10% Jan 115% Feb 27% Jan FF Oct 4% Apr ~ 11 9y» Sep 9% 5 Products Jun. 29 . £1 reg of America Associated Tel St Tel class A_ * Atlanta Birm St Coast RR Co pfd—100 Atlantic Coast Fisheries—— 1 Atlantic 6% 10 Refining Co_j.———.1 Electric American 48 76 i .. Sales Range of Prices • preferred Associated F . • Arkansas Power St Light $7 preferred-* Corp— 2.50 Aro Equipment Ashland Oil St j or- common——* non-voting 16 a-:- Nov Dec 9% Jan 133% Jan i 111 Sep Dec . Jan 207% Aug 5ft Sep A $6 43% Dec 2% Nov ; 1 — Natural 25% Co— B American —> Jan Arkansas 26 American Cyanamid Co common American St Foreign Power warrants. American 4ft Aug * 1,400 Jun 30ft 121 common American Cities Power St Light— F 4%% 1,700 Oct Par , Argus Inc 90% May common American Beverage American Book Co Class 20 -i 22 Week's Last common Bantam Class 3ft ' — 3 v "I'f&x 6% preferred Aluminum Goods Mfg Aluminum Industries Aluminium -1% Nov 13ft '6ft 50 00 Inc.: ; - 8 < —r/F2% 3 — ' -3 Alabama Great Southern Alabama Power 4.20% pfd Airlines 1,700 Friday Exchange Sale Price .11% Feb Nov 10 . J High Nov It v 10 Mfg Corp common convertible 6% — — 13ft -1 Fr ' 6% 4 -2 Convertible preferred American - )■— -5 Air Associates Inc Alaska F -1 —— Ainsworth 60c *- ? 100 11 New York Curb Range for Year 1946 Low 5ft- 9% j.- 6% -1 Aero Aireon ' -5 Supply Mfg class B_.— Agnew Surpass Shoe Stores Air 9% 10 STOCKS rFF'';;F':F-v Shares High 514 Acme .Aluminum Alloys Acme Wire Co common ENDING'JANUART Sales for Week of Prices Low ACF-Brlll Motors warrants A Week's Range - ■" Sale Price FOR WEEK r f 2 . j l ,90 ,. ! .87ft .V.J I ,20ft .56 .v}| ; 22% 51 .at 100 102 ft 41 109 110 si 98% 98ft 58 a ^ ?v Wisconsin Public Service 314 s. 1971 $ Yonkers Elec Lt& Power 2%s_—1976 123 I 11 | : 108 117 • I if ;;.i99ft 104 104j 105% 105% :; 102,; '! I •' 106% — v ,J| toift 103ft 101ft 101% 67% - -67% 68% :a.no6%->:;a4>-. looa loo - 1Q4 H ;V 108ft 72-— 7314 -1958 :■ I 109 108 72 ; 79 ft .102% 102% -r 7314 1949 2%s series , 76% 4 —$ ; a- *■ —2361 :——— — 73 72' • 80%-- 82ft 79% ,82 - * ' ' > West Bhore 1st 4s guaranteed——2361 "ai io4% a aa;; 103 s Westinghouse El St Mfg 2ft8—1951 2% debentures 1971 v -1971 * —1975 < v -79% 78% 1960 — ^ 82F 1950 1951 | .103% HI -rj/f ,96 ft Heft - -Funding dc-real estate 4fts 25-year gold 5s— 30-year 5s f ,{j 109ft 106 105 ft 102% 103 ft t 104 113ft 117ft 105 107 ft 106% 106 ft 105 i 68ft;i| 101% *113 ft 118 ; 110ft" - 56ft | 101ft.,$C4^;'-fi *101% 103 , — 107 ».. -m — ioi West Penn Power 3fts series 1 1966 Western Maryland 1st 4s ___1952 Western Pacific 4ft.s inc ser A—2014 Western Union Telegraph Co— \ 103 A ser , ,• > -a -88ft 104 , 580 . ; inc y (subsordinated) ->-.1970 Warren RR 1st ref gtd gold 3 ft *--2000 Washington Central Ry 1st 4s -1948 Washington Terminal 2%s ser A—1970 Westchester Ltg 5s stpd gtd—-—1950 Gen mtge ,3%s— ,—-1967 , J "i 4s Ward ;Baking Co r f 152ft 102 — : :98% 100 ; , f 106 98 '1 Tol & Ohio Cent re! St lmpt 3%s—1960 ;,t"i 101 , *102 .• mtge Glen, mtge inc 414s ser B 1st mtge 314s -ser B ' WalworthGo conv debentures I 108 i■.■ Glen - i 100% 104% > > -.-f. 109 a 105 8 > 137% V 102% 25 , 1 C, 1990, Texas & Pacific 1st gold &B——2.000 Gen &c ref M 3%« —11985 Texas Pacific-Missouri— : « i v ■fr" Pac Tenn RR of New ©rt 3%s^l974 Third Ave By 1st ret da— 1860 A Ad J Income 5s..... Jan I960 , or , ( P,——1986 -deb-,—1^, 1965 Texas Corp 3s , .•F"'" \ I Terminal RR Assn of St Louis— | vRef & Imp M 4s ser C—,— >■ Ref & 4mp.2fts series Week's Range brtwnt Year 1946 No, Jan F'22% Jan .' 28 ; ' Apr 41 May EXCHANGE NEW YORK CURB Week's Sales Last Exchange Range for Week Range for Year 1946 High W/a Class (EL) Bruck Silk Co common (PH) 30 July 15% Sep Nov Divco IV4 1% 0,200 5% '-5% 6ye 2,000 f,'6% NOV 12% Jan 250 12% 12% 600 VH Max 19% May common,. 13 ,.■ .... Co common 3 Cables & American dep rets 5% Calamba pfd : '6% i Power 13% Dec liy8 20 Bep i*eb Dec 28 , Canada Cement Co Ltd common— • preference 20 Canadian- Industrial Alcohol— non "■ /:; • Canadian voting 3s/a 37/8 2,000 25% May Eastern 24% May Eastern —100 1 • v/ iq "" Carman & Products Co common: . Carr-Consol Nov 68 Apr NOV 122 Jun 25 July 1 Biscuit (J W) Casco (A M) Catalin Corp Cent Maine 3.50 % common— of America Central Ohio Steel Products 1% Cony pfd Chamberlin Co 6O0 of Cities $8 Co Service $6 20 V* 12% 24% 75%: 73% ?rnfc. : —10 155 • Auto 5 City 6c Suburban Homes Clark Controller Clarostat Mfg II Claude Neon Inc I common : 18 3% 3% 9% 500 3% Colonial .-,,117.50 Mills Inc Colorado Fuel & Iron warrants Colt's Patent Fire Arms « Vtc ext to 1956 $3 4V2% 4% series - Dec 6% • io% 10% 1% l3/4 12% I100 • 77% 80 : 9V* 1 70% Continental Corp common Fdy & Machine Co '2,900 0% y>': 1~ ' Gold Petroleum 4,000 - ■'•' / 53/4 K 5% 105/e / % 13% J3y8 4% .;/'-4:V. 45/8 13 % 13 % #//'/ —1 - 3% 50 common. Convertible preferred - 393/8 » '24% 2,400 / 13% 200 3,700 35/a V// 13 t 'At 3 '/ Jan Corp Co common— 95% July 33 - • Dec J | July y y 7% Sep f:i 143/4 Feb ! Sep • •3% -.. -;v "//J ' ' y :/] 26 5/4 NO?///: Feb July j 7% Jan • 14"% Dec Nov > 6% Jan;/| : 44 y2 Aug ; ? ,7 receipts (ord reg)^l£l —5 „ Croft Brewing Co Crosley Motors Inc ^ ; 2%. _i 1 5 Crown Cork International A :>-'-,2% ,11% 11% • — Crowley Mllner & Co Crown Cent Petrol (Md) 30% 30% .j 9% f' 9% • Atlantic Sugar_. 17% ;> > 2,80 5 Lighting Inc common Curtis Mfg Co ( Mo) • 5% 22 May Feb May 900 9 Sep 10% 1,100 10 Nov 23% May Nov 10 3% 700 5% . 5% 2% 18 %• 5 300 2y« 26% 30 ; 6,800 • : -5% Sep 2?, Sep 22% May Apr Apr 36% Feb May 38% Jan Sep ' 53% Nov 12% — 13 / 150 .V11 Oct * 1 5% . footnotes see page 237. 7 common •r (A O common—!— Glen Gobel (Adolf) Xno common class A- Godchaux Sugars Class B ....— 36 .if- 9% V 37 .-7% 7% 8 38 9? 37 0 31 Oct 7% Nov 34% Oct 8% Dec ; / .43 V2 Jan 55 Feb ". 29% Apr Feb V 39 Jun jun 27 )■ 17% Dec 28 19% 19% 1,100 17% 12% -L_l 18%.13% 163/a 1,500 16% Dec :A24% Jan 2,400 13 y8 Dec' > 15% 1 *• //5 Va 1,500 v . 103 70 200 / 7,500 4 ■'Feb V 48y< • 6,500 . 44 107 " Se p •: 71 "15% Oct 300 > / ' Dec ! •> 47y4 :' 600- • .,.69 - Feb >' Sep 10% Mar V Jun Feb • Jan 1 13,700 / •>A •• Dec 26 y2 Oct' 24 —*. .i -//, rio3,;/.io3// prior preferred — 1% 1 l'/a 1V4; Goldfield Consolidated Mines. i4<;. '4»«* yi Gpodman Mfg Co— — 15 Va15 '/:•■ /:•.. 15 Gorham lnc class A. ■M ii2 62%. Gorham Mfg common 10. '/• 11% 16% :: 12 3/0 Graham-Paige Motors $5 conv pfd-^25 Grand Rapids Tarnish—:— —1 '~i.' / 8. 11% i33/«12% Gray- Mfg Co—.—T—— 6 Great Atlantio 6c Pacific Tea— -^ .<•. : 100/102% 102 I/: Non-voting common stock— '•'136-, 137%7% 1st prafwedL— 43% : 44A 43% Great Northern Paper.-,-.— -26 133/4/. .15/ •/'. 14 /•;: Grocery Store* Products common—25c $4.50 14 % " 12% Nov >- 4% Sep 67 Sep 1,100 5% 13% 20 Feb feb • 37 Sep ill®/. %. 63/8 Oct 17% Nov 8 Inc ' Jan Dec / Alden Coal_ Globe-Union Apr May '•'■115% Nov 52% Sep v f —.* : — 1/ • class B_ 110 rl9y2 pec 100 Jun 63/a ' Jan S1/* ^900 Apr 140 ; Nov 110 • - Gladding McBean A Co— Gleaner Harvester Corp.. Nov 111% Jan 23 y« .Oct -••.-125' —.*. Co—i— 85 , Apr 109. Jan 3 ,92 — Preferred Gilchrist 1' 30 Apr Feb 31% Bep Dec 11% 100 103/s 12 % / 3% Dec ■' 7,600 v ' ^0? 104 30 .18% Feb JL7 V* Feb Dec Dec • - 20 400 • 100 General Plywood Corp 1 General Public Service $6 preferred—* General Shareholdings Corp com—.—il $6 convertible preferred • Georgia Power $6 preferred. $5 preferred— — —.* Giant Yellowknife Gold Mines —.1. FLreproofing common General Outdoor Adv 6% pfd— Gilbert 8 , - Gypsum Lime A For 13% £1 1 preferred series A——10 Finance Corp Gulf States Utilities *4.40 pf<L_ Davenport Hosiery Mills 2.50 Davidsop Brothers Inc_— 1 Dayton Rubber Mfg class A conv 35 Delay Stores t»mxnen_ .550 H Jan , Aug Jan $3fi Jun *22% 46 Apr Jan Jan /' /" 7% Nov 145/a May A -~«BV* Dec 23% . ■' Jun . 108 Sep 13% Jun 6% 60 20% Oct 105% May 10% -V Dec" 160 17/. 24 Oct .250 106% 106% ,17 17 "300 1,400 5% 31% 25% —• Curtis / 38 ? Oct 11% 30 5 —100 common.... 2 3,900 2%, f.-11 y Jan *j Jan 9»/a • Crown Drug €0 common-.: 25o/ Crystal Oil Refining common— —* ■/' $6 preferred —10 preferred 5% 5% 24% Mar; 3,800 31% : Oct ?j 14V* dep rets ord reg Amer Glenmore Distilleries Creole Petroleum,—. Cuban Tobacco .y Feb 44 Dec ' 17 5/4 May 33 • 100 __1 General 63A Jan Sep Jan 18 V* July 107% July • pfd-—' "$%/ conv . General 1 Jan Courtaulds Ltd— American: dep Jun common. Power Gen Electric Co Ltd— Jul?;: . Dec Dec /'Sep 35% 150- 40 Jan Feb 34% — 5% ./.;Jun//| 123/(, Nov 3 2,100/ . 26 ' 22 112% Aug 8% Oct, Y.;V»-, % .->v Jan 66 22 Co. stock conv preferred, , Gellman Mfg Co oommon— General Alloys Co_ ^ Gen Builders Supply Corp__ 91 /• «,*•;■.' ^4% Dec 2,800 141/4* 3 V* 393/8 23/4 14% • .4% Sep Sep Dec No? - 8% pfd_ Feb : 121 y-8W:OctV'::' •w • 2V% 45 Stores Garrett 49 - 71% Jan 1,800 ■ 1%:/ % « i 900 5% 10 Va -•: 10% 1,400 350" 351/4 35 50 „ Corroon & Reynolds- 5% conv (Geo A) Gatineau Oct ^^5%/No?': y 4,800 17% __i Mines Coro inc common class A ■ "0 313/4 9 16 3/8 • -J' 2,500 3 91/4 303/4 9 16% • Cooper Brewing Co pfd »/2 % C $3 Jan Apr, ^7% No? v 550 821/4 2% ■■ 2% 31% f-' 1 Copper Range Cor—*. Cornucopia - * '• 100 ; 80% 80%,' 5>r 10 Cook Paint 6i Varnish Co_. Cuban 4 Jan /:/ 5 107% Sep 9% A;pr — Apr f 11% . Sep 115 140 Apr 16 Co Inc. 6c v 9 "43% No? 900 112 Jan Oct Get 1% Sep rr'"-" V. 81 Apr Jan Dec 109 >8% Feb' 42 9 •!:' y 100 w-*' 118% 117 117 : - ; bearer— % Sep 2 ,// 300 Apr Feb 39% 153% Oct" Nov Apr 30% ' ' 14% t 43 ' 4% Sep , voting. Simon Franklin Jan 48 t Sep ; 30 350 1% Sep 50% July '' 10% Nov (Peter) Brewing Fuller /Jan 43 Nov % B Franklin Apr Dec 23% Nov 1,700 27 • 16% -Oct -17% Motor of France— Warrants Consol Textile Co 5% 2% 166 V* Jyiy 12% Jan r Dec j Fort Pitt Brewing Co. -r, Consolidated Steel Cosden 2% • common preferred Class 17% Apr, ^ 4% rets ord reg dep Amer- dep rets Fox V*4'£<s Sep 1 Sep 100 Jan 783/4 Oct Class A non-voting '•> * 23 350 • B Consolidated Mining 6c Smelt Ltd Consolidated Royalty Oil $1 34% 1 preferred series C y 34V* 34% /? 77 y2 Mar 68% Ford Motor of Cansdar— / Ford 25% 3 1,300 42,900 . * Consolidated Gas Utilities •; ..' ■ preferred Consol G ELP Bait 8,800 6% 26% 26 : 32 I_i common r - 10% 1,800 V 29 5 % .'J-': 26'A .> 25 • Jun 15% May 32 Jan 7% Jan 3,500 1,200 4%„: U% 26% 5% _ ,25 ; Conn Gas 6c Coke Secur "10% 26% Commonwealth & Southern warrants— Community Public Service, Community Water Service Compo Shoe Machinery— •;•.••/ 3% 10% II ! Airlines 9 Jun "50 to A1 Store ' Colon development ordinary -■v"! •' Colonial 58; > Jan 157/b May 263/4 —.10 10c * Corp common Ford Motor Co Ltd— Am 21% U% Dec • . ♦ common ^7 156 Dec 50 Cockshutt Plow Co July Jul^i Mar Oct 66% 100 Jun d8%$iay -f" div cum pta Fishman (M H) Co— 2% Nov 9 66% Clinchfleld Coal Corp Club Alum Products Co Jan Jan, 104 " $2 15% Jui% Dec 38 11 44 42% v Engine A Airplane. York First Jun 166 Oct 600 11 40% May 92 56 8/4 MetallurgicaL Fedders-Quigan Corp. Fire Association (PhDa) Feb 41% Oct 1,175 H Clayton 6c Lambert Mfg , / 1043/4 May Sep Oct Jan ./ 8 / Oct 3 Fausteel 3% Dec 13,100 ■l-"a ^ Illuminating..!—.!• Falrchtld Jun 4 Sep 14 v" 900 W* 1 Apr Falstaff Brewing. 184% May , 9% Nov 350 3% Feb Fairchlld Camera A Inst Co.. May 19 Oct 10 / 300 /.: 3% 88 Oct 11-k «00 11 Cleveland Electric 120 Jan 116< Sep 1® - 13% ; 16% - 1 - Sep 2Va 'A'\ Feb 125- 100 155, 11 1 — " 12% 10 Co Co,. 13% 103/s vk:V ^ S ;v.<'' 28% Jun , 20% Oct 2,800 15 % 15% ' 29 22 Oct 137 70 159% 156 159 0. Stamping ■„ Feb 10% Sep iy« 2,400 11,600 i 27 V* 25% 25% _io Apr 52% May 65% Sep ,12% Sep 100 148 143 147 preferred BB City Nov pfd formerly $5 $3% May ,, Dec 18% 250 M% 1% IV* l —I—.* 52% May 166% Oct 11 50 $50 : 15% 14% 14%. —4 , May 15 % May v. 16% Jan 200 21 12% 1 100 B Oct 4 3,800 4% ' 21% . preferred 106 Oct • 16% Oct Oct 4% 5 preferred 60c -Jun 24% Mar Dec 53/a Elgin National Watch Co common—.15 Elliott Co common —: 10 5% preferred J ; —60 Empire District Electric 5% pfd 100 Emsco Derrick 6c Equipment —6 Equity Corp common in* v $3 convertible preferred——! Esquire Inc 1; Eureka Pipe Line common 10 Dec 18% .15 4% t.r 20 ¥4 common 12 Oct 9% 15% • 1 • • 97% Aug; No? 46 79 73% 12% preferred- Feb May pfd $4.20 23% July Sep 16% Oct 23% 22 ;: 23% Mining——II Consolidated 65 110 Electromaster Inc 6 —10 Chesebrough Mfg common Chicago Rivet & Mach : IChilds .■74% 1—5 ; 45 101 preferred $5 Sep 8% ; ——1 America 45 1O1 Sugar. Associates— Apr 100, 101 8 "' —100 common Charis. Corp common Cherry-Burrell common Chief " -100 1929 Apr 1% Sep 5oy4:oct 46% Oct ' 10% 15% Nor 16% - 101 ; 8% 22%:/ 100 i.— ser Cessna Aircraft Co 101 100 ser opt div July 96 30 51 1B7 16% 1 pfd Utilities preferred—100 preferred Cony pfd opt* div 107 Oct 54%: Sep Jan 12 91 xoo •Cent States Elec 6% ■ 16% .15% •// Sep Jan 70 Corp. States y $3.50 .14% Apr Sep •. preferred Central Pour & Lt 4% Central 6c South West 40 22 3/4 Sep 83% 89 Va Oct 8% 8% 39 1 Power Co— Corp common 6% Oct .9 m Feb 41% May 21 Va May 22 ys m • Q* Co 34% 15% • ; & Co. 8% Jun • • formerly $6. Electric Power 6c Light 2d pfd Option warrants Electrographlo Corp— """"""1 Co com Products Castle Co Jan 20 M common— Apr Apr Nov, Easy Washing Machine B. Electric Bond 6t Share commo: 33% Aug 114 "v • Co / Jun 45 Sep 45 » Carnation 3 Malleable Iron Eastern 4% Jan 2% Sep v / 28 Carolina P & L $5 pfd_— 28% 22% : 11% Mar 38% $6 preferred series B / 164% May 164% May Capital City ■ Feb 24% . Oct Oct $7 preferred series A Industries Ltd— preferred 15% / prior preferredpreferred 8% Sep 12% Canadian Marconi 13% Jply Sep 10 7,400 13% 400 4%% 11% Bep • . . 500 >• • East Gas 6s Fuel Assoo common. Dec •, Class A voting Class B 17% July Sep 6% Dec 18 £1 1 13% Duval Texas Sulphur. 22% Aug / 28 i !12 ••• 2,600 25% Aug 15 •/ • 393/4 May?1 Jan ff Canada Bread Co Ltd Sep Jan 4 Test 17% May * Harris Power Duro Jan 5 12% May ;8% Nov.. in Callite Tungsten Corp Camden Fire Insurance Carter Oct Deo '' Jun 200 - , . Feb 71/4 ; v, / 23 Dunlop Rubber Co Ltd—r Am dep rets ord reg Durham Hosiery class B common 6% May 3 £1 Sugar Estate- California Electric 7% 7 Oct Wireless— . 6V2V0 Oct 2% flop fomwim Voting trust certificates——flOo 15%: 15% 7 7%- Aug 37 ■ . 223/4 Nov —1 A_ i 1 • Corp Driver Cable Electric Products 31 18% Textile Co Ltd. Draper Duke Nov 7% 300 Jun May 133/4 May Jan 2 3/4 / ■; 4,700 14% Dominion Tar 6c Chem Co Ltd Dominion 23% /f 1,900 173/4 Bridge Co Ltd—* Steel & Coal B Dominion 100 33% . 21 180 , - Sep 12% 14 V* common Domestic Credit Corp class Dominion Feb 30 1 10 *n<i Ltd— Corp Dobeckmun Feb 4 1V* -12 %o 9% 3y4 dep rets ord reg Am Jun 1.400 24% ♦ 24% Raynolda Class B——_• ds Distillers. Co Jan 26% 1% >1,700 19% 19 19>/a Sep 11* 13% 10 / 11 Mfg. Foundry. Diana Stores Corp May •15% 1,300 12% 11% 12% Sullivan— 6c Devoe 50 oct J 16% Mar Corp Am dep rcts__. Biscuit Corp, Butler 35 100 Mills Ltd— Bunker Hill Burry ^ 47 ■.'« 6c Products Steel Detroit 14% Jun 6% Nov 1,400 ?% : Gray Iron Detroit Mich Stove Co common * ■ Gasket Detroit Feb 102% Jan pet r'.- ,1,500 12% Derby Oil Co common- 34 Vt Aug 'l. 7% 47 Low 12% 145 Detroit 4% Jan K ■ common High debenture 8% May 31 Sep Dec 100 Buckeye Pipe Line Burma Jan 2% 17% preferred Brown "Rubber Co Range for Year 1946 .>;/ High Shares , 11 Dennison Mfg elaM A oommon. 7% Jan Sep 25% 16y2 Distillers Forman prior Bruce 17% 4% B Brown $5 4% 15% dep rets ord reg British Columbia Power class A. Amer Sales for Week Range of Prices Low r Cetaness Ltd- British Last Sale Price Low High Low & New York Curb Exchange Shares of Prices 8ale Price Week's ^Friday STOCKS Friday STOCKS JANUARY 10 FOR WEEK ENDING RANGE New York Curb Monday, January 13, 1947 COMMERCIAL & FINANCIAL CHRONICLE THE 234 39 20% 113 Aug Jun Hall Lamp Co- CO' Ltd. Bammermill wipof - ■' — Hamilton 1 Bridge / 113 • r goo ' v 200 .'1,400 ■Ly 3© ■ -.9% /9% .73/8: ;/7% 32% 33" "-V--200 100 _'100' Apr Dee 93431 / " -• Aug 163/4 July .39 Alabastine 100 / . 7 NOV If ;h 147 /x July ••/' 37 Sep * 13% Jan xlll% May •.;/ 12% Sep r135 ; 46% Ahg 28 ¥4 May 116 Jan k J«y4/Jun •% iSep Feb sy8 Dec;/ /MlVa Feb Nov / ;/- 523/4 May 28 j NEW YORK CURB EXCHANGE RANGE FOR WEEK ENDING JANUARY 10 V,. wy-;> STOCKS New York Curb ''ptffip-'- '//-.■• PPP; Friday Exchange Last ■■■;,{ v Low 25<;• Con) of America B non-vot com__l- Hazelttne Corp.—_ -J—■— Dept Stores common-:— Heam fltclk ■ &y2 11 - • :v- • t, Heller - .—.I common—i—. Co 5%% 4% preferred preferred Henry w »••/•» —; 100 15% — »_1! __ common —• ;.^:..10•'-:74%^.? Hollinger Consolidated G M—i— 5 ,HoUy States Ind^*. ——.1-Holophane Co" Horder'st 33 10% • : Feb 23% Apr " Dec t Nov ^5% Dec 18 Dec ' 8 25 i—• Co__i.**—•; Horn ft Iferdart '' j --J common——i—— P 100 — Hubbell (Harvey) Humble Oil Inc_* iiMMiRefining: iilfciiii.* Hummel-Ross Fibre Corp 5 Hurd Lock.ft Mfg Co_^---:^-«i-5 Hussmann-Ligonier Co common—22 Warrants——s—— 26% Jan preferred—— —i—1 Hydro-Electric Securities— Hygrade Food Products , : ; 15 . 9% 48 3% . , y '••i'- ''.I. ' •V. v,; *. '••••; :■ ' l tonv 60' ■ - Indianapolis 1 Pow ft Lt A% pfd——100' of North 106 ' - 21% 11% 300 108 ' 106% 944 i- 98 - : Metal • 109% 98% 100 85% Oct 82 Bep 1,850 123 ; 113 Ciga* Machine.—__ International Hydro-Electric— ; ; Preferred $3.50 series.'——i.'——50 * 58% International Metal Industries A * ; International Minerals and Chemioals— Warrants ■ s -r. ' ? ■'<' ■> International Petroleum coupon shs—• 13% Registered shares 13% I ( .:*■ ■>-• y-'W-vC. ' International * Product^.:. i.——.10 14 International Safety Razor B—--r—* 4 1 International Utilities common— ..—5 12% r Interstate Power $7 preferred.——t—*' —> • investors Royalty ..i....——1 1% Yron Fireman Mfg voting trust ctfs—V Irving Air Chute——i.,———1 6% 1: I(.aH«nr finperpnurar A 1% f.;yy;;:y ',.'y>y,-K: 20%- -21 300 20 , 58% ( /i: — 62 — 39 $2 h ^ 2® ' 13% 13% 12% Nov 12% Nov 600 • : 14 14%' - 4 4% 600 29% 1% 20% —. 29% ■'v :-y";V ; 6 y y.-.;,y:. , > stores common 19% 1 1 — :,v. . v. SYs : = - . Products . 20 7% 400 TV* 11% 11% 60 Dec 1 * 4% 30 15 111% Dec 1,100 •: 4% 4% 7% 300 He; 1% -i He H.300, 4y* Dec 21% • 23 10 10% > • - 400 12%M^r Lftclede-Christy Clay Prod—.—.—..5 Ltd————^ Lake Shore Mine? Lamsoh fcorp ft Machine 6ya 67/a 7%; 7% 7%'^ , .1y; •. ! ••■• Realty* cqmmon ..i ; 18% *|iw 1, 11'/a Leonard Oil Development— Le Tourneau JR G> Inc.— '. Line Material Co Lionel Corp —. ____25 i ;• ■ Lit •- Brothers •'•..* ; Loblaw common.. ■ •" ; l y .1 29 ; >. 25/y : ' — ' 9 'y / !v - 24 ' „ 12% 10% .13. 1,000 y. y 800 ; ■, v ; 1,200 "■ ii 17 3% 9V* 36'A —— y; ._•• — 5 Logansport DistllUng Co.'.i———^1 Corp common 10 Longines-Wittnauer Watch Co —1 Lone Star Gas c'--..Ky.V : —24% €% y: 8% 17%v- - t „ io% 16% Oct v 36% 60 —* * 01/a A .100 ; 10% 17% 11%/.. 9 / y * 3% 15% , . iKv 7 18% Z18% 39 i' . 20 10 Power ; ; • 9 37/a a Nov yl,500?v^y9 ....100 — 136% 137 . 15% 1,200 10% Dec Jan 18% Aug Jun •i;. -23% Feb .y 54 V* Jun ! 10% Oct 22% 132 >A Jan 6% Feb 10% Jan 32% Apr '160% Apr ■: Oct • Sep '4% 36 14% Oot 200 10 Nov 400 10% Nov 200 11% 11% common——y*/ /y—;■! Sy'y Oct • : y; ne# common.———i* ^Stf' Breweries common... 12 ~37/a 37/a 45 45 14% 14% 15 12% 12% 13 • - 12 6% , 6% Jun 21% May 17 Jan Steel Cooker 20 40 3,000 Va '14 Apr' . Car- 37% - 36% 12%./ 12 ya • Ltd™ f 1 11% ' '' % fir 4%" conv —————100 Park 400 • 900 9 1,025 725' Dec 6 • : 15 Va ; • , . Jan ,4% Feb Feb 14 24% Feb Apr 10 Oct" 11% Oct 100 16% 10% -'.93 8% y/ ——* preferred Arizona Land 29% 118 : " 30 - v22 .Jan .119 ■ 67 Sep Sep 116% Nov •V; 6% Oct 170 14 %" 10O 667/a 67% 1,300 4ya 4% ,6,200 2% » 4% -.1 —• 120%/ 2% ; 2%--' > S 35: Apr 142 Aug v. 16% May ■p2l ~ - July (81% Feb Sep 3% Nov ?/v8 -Sep 54^1 Feb 500 — — ■'>• 12% Oct 58 Jun Jun -• 25 v 12% 108% Bep 79 v. 50 14% 1 Mining Co— New Process Co common 9 88% "94 . .—20 Jersey Zinc——.——.^..—28 New ' 3% Nov ^ New England Tel ft Tel —100 New Haven Clock ft Watch Co—. • 4%ft 3,400 12 10 Nov 21 Sep 10 Vt Oct rl% Oct 5% 12 May 37% Sep 23% Mar *26% May Sep • 11 Va 1,500 •> 16 9 preferred 2 38r Dec 29 2,800 Vv- l7/a 16 Associates...^..* preferred 200 107/s '12 1% 4%" • ' 2,550 • class A i' 39% I 22% July 11% Deo 300 12% 17% Jan Sep '• 17 2 com Machinery Nov 7% Dec •■■"■'9% Apr 49% Aug : 3% Nov 9,800 P . Pressure R/19'S Dec 6% 700 4ya. : 11% Mar July Dec 95 , NY N Y • N common—......—* 10 10 100 Y ft Honduras Rosarlo ——10 Merchandise——— —10 46%. 46 V2: 2i ya 550 45 'j/18% May. 8% DeC 11% Aug 46 21 City Omnibus warrants Y N Auction Co ' ; 150 > 19 19 Sep it 64% Mar Jan Feb X35 Dec N Y Shipbuilding Corp—. . i. . Founders \ shares 1 — 10% Nov N Y State Electric ft Gas $5.10 pfd.100 N Y Water Service 6ft pfd —100 54%', Niagara Hudson Power common—..1 5ft 1st preferred .—100 5ft 2d preferred—— —...100 Class B optional warrants———. 10 120% — Jan 51 • Z 55 9% 10% 120y2 123". 114% 114'A '• 1 1 46 :;/320 15 Niagara Share Corp class B com . ' 9% Jan Sep 123% Feb Sep 120 Apr Feb 5,300 Nineteen Hundred Corp B Niplsslng .1 Mines.—«—. ....... u' - Noma - I i2ya •: 3% 12 Sep r 11 Va f 2 - 1,900, 18%: 20 Va 2,300 Light ft Power commonu-1 8% 8ya ?9% 168 174 41,>.00 j ■ •*, Dec • i;- ' 11% Dec -.1% Dec . i ,, ^ ' ^ 13% May 26 V* Feb 20% Apr i'5% Feb K 18% 2. Sep 11% 3,500 /.vioo. -.1 $6 preferred. ——' 8% 900 ... /'/' ;-fc' "• Electric North 'Amer ;vl 97/a 13 -ii% 114 12% Feb 23% Apr 22ya July 12% Dec 5 Niles-Bement-Pond May 8% 480 1% Jan Jan 112 % 1,025 ' i72Va . 1 575 Feb 26 95 Dec 100 25,300 ' 112 . 111 104%' Nov .100 105% 105%' , 30 -• Feb Feb 210% Sep Dec 7% Sep yyso $2 _.•4 33 Sep 32% July Jan yy. '6 20 " 17%/ 6 % 41% Jun S3 Aug y-'V T/' 7.700 Jan Sep 20 23 » 20% May Nov ' yf, 5 . 17% ! ' * .r- t -V \* j ,'*1 $ New England Power Sep Apr ! Jun 26% : Pi. May 37% • common 1 Jun y 56 Mar - 17 :,'.y ioy2 Dec Dec < Apr 20% "y - 24% May ' \ 180 30 //•' 25 22 y Apr : 35 45 ' 4% 11% 1,900 39 Dec x27A 900 v 8%" Nesle Le Mur Co 14% Sun 27% Oct 13% Nov/ ry/ 87 - ■{ Jan 9Va 1,600 Vy 15% 187% 189 > 20 2,700 5 : 103% Oct 1,400 3 15% — ' 4%-y; ' * Sep 300 ■ 9Vk. 10 4%: • 28 v Jan 6 Dec 900 29% Aug .. 19% May 50 July 11% Jan 107 % Feb Dec-"' 30'/a ' ;. Nov 27/a 6% 50 9%' y 28 9% ' yyy 8% ■C.i—''V 28 < yy 1,400 Jan 14% May • 17% Deo y 100 1,800 — • Transif.——-i-i—-—-.12.50 Mine? common 1 National Union Radio.—————..30o 30% Dec . y26% Feb ^ '■ ,-25% Mar 25%' > f200 v 23 DecV " 9%: • :{ 10% Sep Jan Feb 9% ; Feb 21 Dec Jan ( A 4 f.8%::; ;7'S--y • 3% Nov 1900 / I 35 47 y Nov 28 V /.40O 17 National 15% Feb Doc. 29% Mar 9% ■ W 300 > 8% National 23% Peh 14 37% Jan iy« Dec 900 17%W-. 8% - 9% Jan — • 13 20 y* Apr .-6 Aug yv 31% May >; 9% Oct 6% Nov y • r • 25% Nov igf 3 t 8% National Tunnel & 14%! Nov * Npv 4,900 1% 25 $0% 900 29 7 7%* 29% 4% 4 -<• Malllnson Fabrics—.. ....I National Mfg & Stores common ...1 JUtt^ .;,6% Npv :/-i7%. Nov 12 VA Sep Oc$ . .— 11% 28% V 28% 17% yv-17% 5 10 j Groceterias, class *. Class B i •^ Locke Bteel Chain— .: — 1%' 100 100. 15% Prior'preferred>——y—- Nov 1? ' 6% 6% .14% .y 30 15% y 5Q0 .400; y 30 12 2,800 15% v __ • v Lipton (Thos J) Ino 6% preferred—.25 •••I 15% *„ j . B————-1.—• Lanston Monotype Machine.....—.—5 La Salle Ext University. I 5 i' 10 1 Producers States - 200 4,900 * 6% Class Lefcourt 13% 34% .——.5 of Delaware. common—---..1 / Langerdorf United Bakeries class A__* ■ 13% 13% : 8% Jan 15% Oct - 800 New Mexico ft ! — 13% 8,400 25 : 1,500 1,900 New 1 — Lane Wells Co , ■ ■7% preferred—l-U^.~-25 National Fuel Gaau—— >.1L Foundry 29 Namm's Inc commomNU—!1 Bellas Hess common 1 ^ ••^4; - y 24% Apr N 2% Feb ''y • Dec Aug W®y "% .18 : Ty .y yy u ^ 2 % Nachman Corp r^'7'y^24.Vi.8ep..y«y-.'7-43^:: Apr_i: 17^ S0T 34% Apr 300 19% Nov37%^uy 900 10 Oct 18% — , 1 - " , — — Qo—4--w———1 .. .•: ;; 21% — 21% 7% .• ;• 'y:«a;/-. / (Herman) Corp.—...——5 Neptune Meter common 5 Sep 9 y Jun :) 6% Nov t Oct .177A Jan v .5% Jan >14% May Nov Oct 14% Oct : *{:'■ y. V.y j — Mountain States Tel ft Tel May 94- Apr 82% Apr -28% May 9% Feh • 2% 9 • 3,000 7% .it'' ' — li 5% Mountain 115 12% Oct 2,200 *i% ' — 4% 20% ; Nelson 1 comiqon——-—.1. Kobacker Stores r——.1 Lakey 3% 205/a Utilities——...—5 Ward A—u • Mountain 17% Jun 124% Jun Dec 50 ... -- •'y 2% National 130 109% 14% ^ 3% y .18' 6% 15% Jan 29% Jan 460 14% & 18 2% 8% Nov 69 • /' 100 9% Feb ' u-; i 10% Deo 85 t 1,600 i 5% 6 150 1.100 78 • 13% —50e National v 63 y..'- - 12 12 18 Mountain City Copper common...—6o . 32% Jun 69 109 1,000 1,200 : 18% Feb 85 ' ii 600 2% ?}% Apr ti 8 10% 2% Montreal Light Heat ft Power,—.——• Moody. Investors partie pfd——— Morris Plan Corp of America—lOo 19 109 Lake G M Co Ltd—— l Klein (D Emil) Co common Kleinert (I B) Rubber Co———10 Knott Corp Brewing .. Oct nv-t' 2?,/ - . 7% Deo 121 Sep 18% Jan — 100 Petroleum..; Krueger 40,100 .........100 Kirk land !, Dec , Mar 62 Dec i 5% i- 800 : 6 9'A National 7% .. 5% Nov VI J; Nov 5 > Jan 12% Jan May ' 11% Jan 14% May 112 Tit . 7-—^ 24% • 2,100 10% Montana Dakota National 6% — 50 02 May 7 _5% Dec pfd B——100 preferred D_. King Beeley finrn I' ; ■ .. Ki^%%Iyprefeired0^ir KlTby 1,100 26 8ya 26% Dec Sep j. ! 6% Dec 109 • Sep 4% Sep 9% !:7.y 2% y;: Molybdenum -Corp—*.—...—«...I Monogram Pictures common-!——— 1 Monroe Loan Society A———1 National Rubber Kings Co Lighting 1% Kingston 1,400 24 i Kniser-Frazer Corp 1 6% Kansas Gas ft Eleo 7% pfd—i——.100 ; Kawne?r Co—— Kennedy's Inc 5 Key Co common^..— : Kidde (Walter) ft Co. —j——.5 11% 8% 6% 12% Rep 5% Dec 900 16% 18 5%' 8% Apr Apr 7 14% 100 y .;y Muskogee Co 2,900 7% • y . 5% Sep 600 57/a . conv Montgomery Feb Feb ; 2% y: :/'• y(is'- 13% Jan .3% Apr 1% Dec —" -i * ' Dec . 6 V*. 5% - : 500 r ^';-lly>.5'; y > . P & L 5% pfd Missouri publlo Service common 7 y--- 20%' ' 9% 16 ' — . 32 1,000- ( Murray Ohio Mfg Co—— Muskegon Piston Ring——17% ^?y .■■:•- 17% 6% — ... ; 6 -1 n |||||j-: :y I, m■!■■■ HI.. P|.: v 2,500 2,300 A 3% '• i 6,000 •• y:;. — Oct 9% Nov 25 :.yy v yyviy'-r 1 Minnesota 63^ May Nov . 19% 4% 18% Sep Oct l'V: 9 500 18% dividend share*— x? 1®% May. ^ Products-?- | x-" •• 1 ■ 19 t-r"~ 5% Abrasive^...—^>...50 . Class A preferred • Julian ft -Kokenge Co.—* i 6%y 1%" 'V'-' ^JaP.y- ■ Jeknnette .'Glass C6 eommon——.1 Jefferson Lake Sulphur Co Jim Brown -i--. ^200 12% 1,300 5% 6% 1 /'C..- preferred.. Mining Corp of Canada..— •• "'r —— ( ~ i • ^ ; ;* 6cp 27% Nov 200 f 20% 1% ^ > 4%% . 24% Jap 24% Jan May 6% Mar Jan Jan Apr 22% Jan 47 Apr 24 Apr 87% Apr V; 1% Dec 40O V 110% 110%' H" -y'— Corp.—...1 Midwest Piping ft Supply com *lYf Au* 2% Dec. 11 17% *• Mid-West Refineries Miller Wohl Co common ' 10% J»S 3,200 12% . - . 600 ■ 11% , , "■ '■ 177/a Co common——.——-• . . \■ ' ' • ■ ^ v Oct 60 y ■ 5% 3% —.——10 c— non-cum Midvale Jun ; ■-■2O:v--5^«-.s-80O:»^aO-'•y;Oct:7>fy.35. 13% 14 8,500 . • ^ - l,10O'-: 33 ' •t-.; ■■■*%■<«>■ ^ t v /•..' - '•''■•' :/^V<y<~V. :$•':}c> Midwest Oil .Co.A.^^ mi..fen., km mi,»■ 73% Apr' . 34 4% Oct !--7% Dec 1,700 11% 32 5% 25o ' West Mid - We s t 33% Jah, y Oct • . v 17% ; 15' ' 11% 32 B w 4,000 ■ 36 • :,l 200 • • 2 14% pifeferrecL——..—. 14 ' :.'s'o 56 % May Dec ■ 9% 14% -'1yyy ——i— ————■ Midland Steel - — common Corp.. . 0% Jan 2% Oct 17 500 / ' 4%:' : ; 1% 17% '11%,/y Corp common Midland Oil Corp $1, conv pfd jan l-'W-L; 1,200 k — Class B Middle - " ' 26% -v.y .v De6 9 r/ v- Micromatic Hone International { 1% Middle States Petroleum elass A f t 0.1. . Deo ; 112% Aujf 109% Jun. ; Textile Preferred , 4% a 9 1 — —— 1,300 207/a — Michigan Bumper Corp — 1 Michigan Steel Tube——w.-..—2.50 Michigan Sugar Co w eewUww iw' 30% Jan 107% Sep 120 ; 107 99 -r 15% Ang Apr Apr 117 21% May 40% Jan • A preferred.. .........100 Iron Co—.——————I Messabl \lil% Jwiv".;,/. -I:*/" i '79% Deo 9% Sep ; Mfg Co -y,-. Participating Fc 'l'i',1'*}:,vV-?, 15% Jan,^. 15% Jan ;; ; ^ -66 Apr 111% Jan 14% Sep 100 4% 20 y :' y, • Chapman ft Scott— 6 % % .Ma? 18% Bep 400 : y Apr 108 io / • y/'S. —1 ——• «► -l 12% Jan 100 ...II y':.• ■■ Warrants Apr 23 19 - Sep Sep 11% 21% * Menasco -..... 5%! Oct.-.^ 1,300 . 13 '51 — America.:.—10 : -300 117 5,800 v 17% 3% , , I — Dredging ;• v; Merritt 39% Apr : '.'11 ; AP? , preferred—-106' Insurance Co < ^14% Nov ~ y — 13 :i ^ Indiana Service 9%' preferred——.100 7* — ' ' , Ireland..iJlr—£i ; : Sep :?•. 53% ?N9 15 ^ Oct '.' /:vv.yy Memphis Natural Gas 7 20 A ri,300 3,800 1,050 6% 6% 11% ,12%, -- -13 Imperial Tobacco of Great Britain ft ■ 7% Apr 54 Pec • 11% < T——L—• Imperial Tobaccp of Canada.!.—....5- * 19 Oct Oct : o Mead Johnson ft Co : •' " 4,700 18% Iff . ... 61 • 17 Am dep'rets regii ». t L\ S^. Imperial Oil (Can) coupon—i-—• Registered '.i.-'.-f 29%' 113 u 17% 20% i * —— " - 28 Dividend arrear ctfs_l—— i—• 17% £IlUnosi ZinQyCo^comman U-.U,—1118 ; Imperial Chemical-Industries— McWilliams July July 59 . : ■■ 'v..'■ common—28% preferrtdi:::—50^ -80 j 12 22% ^an „ jy , Ltd——.... Massey Harris common Corp common $2.50 preferred ■;^'^3v :;Vv:''; -V': | ..... Illinois Power Co i 900 v r.-> Oct 37% Oct, 3% Sep 100 Co Power Shovel Mass Utilities Association v t 21% Jun 175 - 3%, -49y2 1 • Iptema^ Marine Communication Marion 50% Mar 10% Oct, 6 70 65 350 . >12% '13% 3% common Co—y°/,— Marconi Jun Dec 1,^00 ' Stores (The B) Co Mapes Consolidated Mfg 15% Jim . 45 , .y: 1 Mar 6% Nov High 3% Aug • 113 Sugar optional warranto Mangel 75% May 27% Dec 150 11%, 8% 46 42 •> 100 10% • 10 500 •/ 13 17% McCord , 82 .1 Manischewitz 33% JUtt k A8% Jan 90 1 M Aug 24%; ;;;y400:''; ::18/rOct/./l/. 37 1 -42% ; ' 80% 11,200 'v'" 175 ■ 87% Jutt ...17% Feb Sep 87 glVa Manatl Y2% 10,100 ^ > :47 ^ v ' ; 250 - -8%V "• 47 • __ —8 , 27 8 46 . ♦. 60%y ;- 2,600 22 8% • f 30 lVt 87 — , .; — 59% 25% • 10% Huyler'scommonL-w-i-i,:———_1 1st — 30 • 59% : " 26% ; ; -8 i : . -47 <7om Stk: purch' ■' — — ft ' Low Nov .-32% May 25% July . 35%' Ssfc'.y//„'■ 45% July _-r. * 140 Fsp - -170 May 150 38% Oct 47% Jun 112 May 115%Mar 40% x41%; v 1 Light $0 pfd—«—* ' preferred,™ '•:: 1 Lynch Corp. ^ 45% May ti^4^5$^53 —* Range for Year 1946 High t . Louisiana Land ft Exploration Louisiana Power ft Inc—tPPpp4'" :r^v^">::--;l9%VScpy.., „Hormel (Geo A)'ft Co common Horn ft Hardart Baking Low Shares May Oct "y 'VV".-23% Sep far Week of Prices Apr ' 113 92 Sep J Apr Jan 16% 10% Oct Sales Range : . 19% Feb 48 ; 2,000 * V Sep. ;-10%y^ 2,500 "*v/9r Oct 5% 6 1,500 6 Nov 25 -26% 4 1550 ■"•"•'22 V&ep. 10 : '5%' • :/':80 73 Jan 26% "103% - ' 7% Jan : 14% Dec 19 100"' 200 Long Island Lighting Co— y. Common ctfs of dep— 7% preferred A Ctfs of dep preferred B ctfs of dep . Dec 11% Sep ' • 10 — 21% r ' 150 — 31% 3% Sep 83 — — .1 & Co class A— 13% 9% May *6% 1,200 - , f- r 15% N*' 12%* : ' Deo 13% 10% y' -1,600 24 : 3% • 400 ■ 11%' 22% t' ; 15%*>-400 12% -13 ■ 1,200 '*;Y 105% 105%' — 100 , Holt & Co common (R) 2 -.1 w W__™ Heyden ,Chemical 8%/'> 8% —■ 'PI w— 3%f;^;:300 .'/A: Week'* Last Par ' 72% Jun . Friday " Salt Prlee High y ;j f Oct 60 4%; 11- < * Class-Ail 100 3% -V - STOCKS New York Curb Exchange ' Low - 4% Mining Co—250 12% *>P 2i Pi- Helena Rubinstein Hoc >' 65 -15% 5 V: '-i'<Mtange for Year 1946 High x/CpPzP-P'* 641/a l>1; - y 4%; Co.^.!—-i—1 PppPi Hat ;-.:Vv.PX'pJp-'"v for-Week .Shares ol Prices PPlfP Par ' Sales 'Range Sale Price Hartford Electrie Light. Hartford Rayon voting trust ctfs Harvard Brewing ' Week's 16 Nov 6% Sep 132 Sep 35 '. Jan 42% Mar 167 Dec • V " -rv. NEW YORK CURB EXCHANGE " * WEEK RANGE FOR 1* ENDING' JANUARY i0 ~ * Friday Exchange New York Curb Week's Range Shares ■- Sale Price Class North B common Airlines Northeast RR Penn Co 3% .j 3.%/, ..V . 13 13 Nov 62 y* May Feb 12% Jan 7 106: .llflf--" llO^r'b1^- 25' ' 57 .58 Vf/'Z 55Q. 40 V« Z 37'/a 42 v" "4,500 8 • 8 83/8;-- 2,400 >-i 1 1 31-j/4 "31l/4fc ;tTOO v' 7% Dec 10 Savoy Oil Co_A— •1 Schlff Co Schulte Apr 46 '- 29% Sep Steel Co Ogden „ Corp Old * Polndexter Copper Co Ltd Amer shares 0 okiep va • 8. •» ■; 12% 12 y8 . — 100 14%"/15%r 11%, 14% Securities ■Overseas 600 20 600 " ., T v 22 r Jan Oct '14% Dec 26 6% .29% Oct') 4% Sep,- 100 19% Nov I Oct /, Sentry 2% t r Corp BOO.' 1%*;" /'. 100.. * 9%'-. ' Pacific Can Co Pacific Gas & Elec 6% 5%% 1st Pacific Lighting Public 38% Sep 1,400 35%; 36 f.:. 200 <• •104% 104'/47.0 40% 40% 40% . preferred—' $5 preferred... Light 1% pfd Pacific Power A Pacific pfdZ 1st 300 11% 11% x:tVA common^. .26% 3 Airways warrants 7 Paramount Motors Corp Parker Pen / Penn-Dixie Cement . . 8 11 , 77%. 43% Sep 9 7'/a Nov Sep 9 112 Va Governor 40. Ltd ; • - ? . Oct Jan Southern 13% Oct "2% Sep 5% % 6% Mar 5%. Dec corns 9% Nov - 44 ; /Nov 8 common : 5% 15% common May 10 Sep Jan7 ? Power Corp of Canada ; \i. Dec //V 28 y2 May r Sep ■m / 10 common 100 1st preferred- ££7 .1 ■i[* Premier Gold Mining >•:< PrenticerHall Inc common Pressed Metals / of Producers Corp ; .19% X- 79% /10 71,400 1 %' 2/// 2,700 Prosperity Co class B 1% 29 $5 1 / Pyle-National — 122^ 'r Jun " 4:>109% 10^% ,26% _ 27 s Va\ 300 ;£ l,300 ; XlO% —10 Q 91% - 90% • Apr Sunbeam 23 Feb Sun 95 161 / : . ' . 189 4%.' common"!"" ; 1_• Raymond.Concrete Pile . 37% Roller Bit Reed Co Engineering.,—II57 Reliance Electric & Rice Stix Dry Goods—— Richfield Corp Oil , Rio Grande ■ . . ; A Roeser Am Rome Pendleton Art - Sep Nov 49 : 5% Oct 6%,A 6%*/ y/pZ ' "/ 2% -3,800 .. - « 26% 106% 106% 26 26% / U 25%/. 25;y8 ,'*V!■*%' 14% ■ . 14 ' v Jan > Aeronautical Co Consolidated Petroleumj I_ page 6%-. 6%.-, 6" 7%.: . 4% A Haynes common, see 11%' 11% Ryan ; , > IP £ Feb ; } ////$% /'• 10V4 Nov Jan!"/ -22V#. Jun / - Feb' ;/ 25 1% Dec 3% Jan 14% Dec 'iy 17% Sep Oct -//• 49% Jun 200 28% 450 ;// / Apr> • • r 48 ' Jan too;-/ 28 • Jan /- i/ 62 V* May 17% Nov/-/ 34% Jan 19%. 20%/ ,1,475 // ; 3% Dec./ ft'/ 6% July ' 3% 3% 1 w 500 ; 11 y. Oct ' 26% May . 27 800 /.. V4 Oct . . ' . Inc.* 16% 15% 119 -119 9% / j V«' '• j ' .-r't ■ t .12% May 37 ./Jan • 29., Apr.. 123 II6V4 Sep 20 '■ 12% 13 Va / 7,400 35% Sep 7% 1,600 ; 35% 100 ...— • Nov 14 4 3,900 , . NOV 6% 29% Sep 400 y; 9%- - / 100 8%: / 33% 8% 33 common. 7# pfd^ 13% 4% 26 % 17 : •( 263/v July OCt 9% Sep * 10% May ; Jan Dec 4% . , 8>9QQ. 800 '■r/, 63 Toledo Edison / 7% preferred Tonopah Mining of / 6% Trans Lux Corp—* i > Trunz 111 — 1%- Nevada i 4 1 150 59 Now 100 11% Dec Oct 3% 2%-// 3,100 ! 111 iy8 ■ ;•// 4«/« (' ; May i : 105% • " Nov 112% May 109% Dec 117 2,600 1% 600 3% Oct 5%- 1 , - 5% . 34 Jan May 5% Oct 14 % Jan ' 10% Nov 17% Jan , 17% Jun - 1,300 10% - ' Feb 5% Feb '9% Dec 2% Aug ;4% Feb Sep 1 2,100 - -- . 165 30 ■/'! 3%' 10% Feb Oct 1 Inc Feb - 95 280 20 Tung-Sol Lamp Works 80c convertible preferred May 14% 1% Apr 700 Aug 6% Oct 11% Oct 44*% May 19% Jan 15 Dec . L'i -5,. :. .Sep. 3% Dec 72 63% 2% warrants 22% July / 7% Oct ;'/■ 6% Dec 400 100% 103 preferred 26 11%// • 1% Todd Shipyards Corp—— 2,600 7 11% U 9% May 4% Nov 5%. Oct ,,..4.00. Brewing Co— A Allied Stocks. Trust Co Ltd Amer dep rets ord regis Amer dep rets def reg Tivoll , 11% 100 '6% 48 Jan ! - 13 - July / Oct Oct 16 -800 •• ■ Sep 17% -•A : 33 . 30% Aug 21 i) Dec . -22% fy 15%- 17 % /'•• 21 Construction f Feb 110% Mar .'Oct ':"'V Tishman Realty A r 4ya May " " Ryan For footnotes ... 500 common 19%, 3% 31 : 13Va Nov .... Tobacco Security Jan 13% Nov 1,200 Co Ftusseks Fifth Ave . A Light Tri-Continental 21% Oct 26% ..1,100 15 -I:., 1,200 700 Rotary Electric Steel Co Royalite Oil Co Ltd—.: 4-? / : y- ■ 32%*;/,. 34 3Q%; ./ 33 Tobacco ' •/. Dec Apr 105 15 " 7:14 Worxs—a Dec 2,900 / /■ 275 34% Jan A : 1% Sep 20 400 Roosevelt Field Inc/ Ryerson 37% Dec " 7,300 ' ! > //v. / ; 13,100 ;j Jun ?;/ .100 pfd F. Ihc_ Inc :]/ Tilo Roofing Inc: Aug Dec 2% 3% 1,800 i%/p%;~ 30 .: Thew Shovel Co common 29% Jan r Corp,; common—.j Metal Petroleum r Nov .. % % . Root 44/ 60 • , 8% Nov 30,000 % ■ dep rets for ord reg_ Cable 30 53. 1 .! .• 13% Feb Feb 84 .25% Sep "."/'i - f. ■ ■ Royce Ltd— Ronson 55 • 4% : Dec 1/r 6%/ 1 7 Valley Gas Co—'■ 77vtc. Rochester Gas A Elec 4% Rolls . 12 > (Texas Corp) 1 :-.10O. 18%| 37Vz, .38V4^/., 400 '% Richmond Radiator—1 17% 18%" ;■ Texon Oil A Land Co Textron ./'///'/x'ir-"+ *■ >,/;/. V"- 23% 23% • 100.. . 721% 14% /;/ 18%; £ 16%. 19 ; . 1,600. 723% 30% 28% .32%'7.. 1,900 warrants 6% Jan Dec * 35% July *" 'P Dec 18 Z X 4 ':1: 11%'12%; Portland Cement, Technicolor 5 Jan 24 ; >'/ 15 J;!!325-! 55 , >/;- 94% July • 30,500 7. 1% ; '8% Jan 'v.'.- 5% Oct -"23% Jan/ Jan,;/ /•••'/:: 9%' Jan. { V. 3% Sep 600 May'//; ' ,18% 12% 7 3/4 160 23% 9% Oct 400 pX.i.- 3%'. Corp—- Texas Power 5% ,4% convertible preferred Raytheon Manufacturing common—..50o / f r- ' / Apr / 18% Voting common __/__lo Railway A Utility Investment A 1 Rath Packing Co common ios /..28%, $3 Products Corp common Tampa Electric Co common — ■i!' ' May ? r Oct . 7V.May;/' Nov 3,000 ■"v23 - 2*"A 28.-/ 27% .28 Taggart option warrants. Oct , V;34% Aug ' ; Jun 114 640 * mya Sep 20 '7.158 Oct 20 161 11% Sep,;; irV'- IR//7 Railway A Light Securities - 24 A CO common Ray Drug Co_t Superior J Radlo -Keith-Orpheum Feb 3 '•/ . 27% Aug / '' n tnmon««;—a—. Quaker Oats common 6% preferred 10O Quebec Power Co '8% 8% Feb , Oct 2% /v Apr 45% Apr i" Sep 24% // • 45% ' - Feb 3% Feb ' 3% Nov 19%, < ;10 Jan 12 16 72% Oct Superior Tool A Die C01 Swan Finch Oil Corp :;X; * / ;/•/ Oct 28% Sep ' , 17% : - Feb 13% ; ?;i% Nov • / 19% May r:. ; ».*• Dec 700 • Stop A Shop Inc Stroock (8) A Co common- 20 V* May Sep < 400 10% 7% / (J B) Co common (HugoV Corp 27 ,9% Dec 6 7% • 9,400 / 4%;/ 4 % ' Sep ^ "/ • " 3,3(00 29% 3'/*',*%r / .113%-May 103% Sep > 18 ; Sep /; . 225 10% " 11%./// 200 )%'11% ""** 20C 14 14 14* 5 common....._.i 110%^" 26% ' Manufacturing - Stinnes -I ' 10% Sterling Engine Co. 1 .111% Feb prior preferred Puget Sound Pulp & Timber :!l: 106% Jan 50 * Feb i Brewers Inc Sterling 10% Jan Nov 91 3% 18% Apr / 6% , (A) Stetson 108% 108% _ioo' preferred— p. Puget Sound Power & Light— k// /'/'.i/i1.; f ; / Dec / 10% /10% >//// 400 Sterling Inc. Public Service of Colorado— y6%, 1st preferred—*^^100 1st j : Pyrene \ Sterling Aluminum Feb 3 Oct 8% Sep |h Co „. Oct 13% 700 17% 17 j v Providence Gas j Stein 773.7* Sep -7 7' 95 7" May 20% Jan 8% De"? „ <U' ''* 31% Jan 165 Jun ; /,: 7 Vi Nov ? r 6 B. class ■ Oct 29'A 140% July 750 28%'- (The) Corp 7^ Steel Co of Canada • X. 700 10% cr Starrett £,***« •' 50 4 20% ; / Jan :/•> 43 Mar // Jl% awn // i. -if 51 Feb ■•/ 39% Oct 32% Feb /, 30% Apr < ■; 2,700 .35 '35 //," 3% ' America4 Aug - y 60 v Apr t ^ 69 V 2% :sep^_;3i%: Feb .•7, -.1. of Nevada 1M :. j. 35% Sep 3Jx% .Sep . 600 3,800 v 23% 20 ' ;/: Preferred Standard Products Co. Standard Tube class B_. 15% May /; July// i':£■/,^ 150 ~ 46% :/, 4672 -47 ioo 1%'i I l%w 11,100 Pratt A Lambert Co__ v '• common- preferred (Ky) Oil // Common , 400 - 9 2% 2% >y4 Forgings Corp. Standard Jan Dec 15 y8 ' 8 7% . >2<T -•» 7% , Standard Power A Light. Mining Co . 11 Powdrell a Alexander common.. . 10 ' ? 10% 4% | 'p Polaris ' < , : 27% Sep / ' 7% $1.60 convertible Standard 41% 41% Feb ' 7V* 14lA ". /' 31% Sep ;; , Co. Dredging Corp Standard : . 1,700 30 . , -i - Oct.'/ iV/'U0% Jan-it-: ; 39 /' Aug / 5 " 600 .7 32%- 33%V 34% 34% • preferred.. ;,// Convertible , 78% Feb S 7/ 15% Feb 7 Nov '? Jan 15 Va ! Dec 6 /. _ 81% : 31 % '31%/ ' / *700 > /-A../';./..30%-. 30%;-, /'600y .//.fc_ ///' 143 % 143 %; V: / */ 10 *: 6% '6% 6% ' 300 7 7'A 200 Standard Cap A Seal common.' / Jan 47 Mar 50% 1,100 • v Stahl-Meyer Inc. Standard Brewing Co /sr 15% Feb *-fM4% Jan Feb 29% May . ; Corp Spencer Shoe shs Jap !; •;/ 108 14% Pipe Line- Southland Royalty 37% May 30y* Jan j£ Pleasant Valley Wine Co. Pneumatic Scale & Feb Pitney-Bowes Inc Pitts Bess ALE RR__ Pittsburgh A Lake Erie Pittsburgh Metallurgical :; Sep ? V/ • * 7 6 £ w- 11% Nov-' 9% ' - 6% 7% 8% v Edison- preferred 5% original >/ Apr 7% 7:102% Nov .12% Nov. ,J 7 Nov V /; 3%-/; 3,700;.; >/. 3 r Nov v ; 3 : Southwest Pa Pipe Line Southern California f. v. >/32% South Penn Oil common- - JunT \ 374Jan 4% Sep , \/4,000 1,200 15% 7% - 7% 3%' 20% 8 Am •/,• 12 Sep ~ 13% 13% Co. preferrd B preferred series C Southern New England Telephone Southern Phosphate-Co new com 63% 15 % Ltd jf ; Piper Aircraft Corp 9% .Nov " Jan Dec 51%'Aug 4 Oct 37 - common Johnson 86 y» ^ Va Apr i 49 Nov — Corp common. South Coast 12% May r » 7?A Dec .. . Pharis Tire & Rubber com Pinchln 117 1 Oct 5y* Dec .7.62.7,Oct 250 •; Oct 6 230 — Manufacturing common- Boss Jan Jun 24% May // 180 304 xyxx Sonotone Corp 7? 7 21% Jan 3l/a / 13% Nov •/ : 13% Nov Jan - 43%ii._. . 31 / 100 7 8%C''. . 43% 43 43% 56 Dec .. 600 :5y». 5%' .69 * -ivy 'A'- 550 7%« 7 Co. . 64'A Mfg Co. NOV 6%-. Sep .. Philadelphia Co common Phillips Packing Co Pierce ^£1 * >31% May 12% July 2,900 7% 7 298 .100 . Solar Manufacturing May 43% :28% n ..'7 800 . 112% 112 lA pfd. .66% ,/ Pioneer Gold Mines , 115% Aug x ' * 7% m Elec Co— 3.90% preferred. Smith (Howard) Paper Mills. L July K 600 3%. 3% "7' sy». Circle dep rets ord regis— Amer J,169% Apr ,; Sep Sep 25% Jan Sioux City Gas A Jan 84 .,. 200 .10 %7 8% warrants. 7 Penn Water & Power Co 7 Pep Boys (The).., Perfect 24 28%' 728% •% 7 150 8,200 5% 6 Penn Power & Light 4%% ?Z v 39 .1 Singer 59% Aug 52% Nov 40 Manufacturing Co. Singer Manufacturing Co Ltd- 16% Jan - • Simmons-Boardman Publications— $3 convertible preferred. Simplicity Pattern common. > 12% Jun I .115 •108 y Jan / 20 600, /. ,l4y«-Nov . ' *51%" 51 Penn Gas A Elec class A com * Pepperell ' .13% Mar Sep OCt. * Oct Feb / Jan 5% ; ... i6%";::: *400 15%, " ' Jan 'i 14 Dec S 15%;! * 31% Jun 4: v 10% Jan / Oct /V »/:, 24 »• Dec-;/ ^19 Sep A/ 9% Dec / ■/. 19% Jun . Silex Co common— > < 11% iv'-. Dec Sep't-'V ;. , ;,k 3% _ _ , 4 Ltd Solar Aircraft Co. 7 Penn Traffic Co___^___ >, H''',, 37... Breweries Sick's 28% July ? Nov 1,8% 300 A;>v i. 59% ,59%> Pennroad Corp common. ;> S 15%' 16 preferred.... cum . 36%: 38 Peninsular Telephone common $1 Jan ,3 24,100 32,400 w7 uf'. .*• Co_—______ Parkersburg Rig & Reel Patchogue Plymouth Mills. k 12% 11% Pantepec Oil of Venezuela Am shs / 3%%; I ; preferred Sherwin-Williams of Canada. " - .100: 16% May Jan 27 .25 common 4% :. * -11%. Jan. Service... American • :7 41% Feb / 102V4 Julyl%\ 109 May ; .108 -f Nov ;il7% Apr :/ 35%. Dec yy' $1.30 1st preferred XX Page-Hersey Tubes common Pan , Feb 35% , Nov 1% 200 _ . 1 Sherwin-Williams 19%, Jun ' 46y8 July . ,>,'i::29.-r. .Jan • Dec...7. 3% v- 4% 4%j. 600, ; 23% ; 24 .1,500 10 ///// 10 7 10%, / .400 142%, 142 ,143 t ,_5Q0 4% k Power. Sheller Mfg Co_ .10%. Nov,, 5 ) 111% May ; • 1% *'■ 5 A ' July 7V» Feb / 30 Sep; ..^,2oo;.ii .10% ,13%^;/. 4 ; 3% . class B. Water Shawinigan -*-3< Jan 7 ; 104% May, :." .200 9% common- Shattuck Denn Mining '-.y./•/'*,^',*7/) fVf'% 7'i • , 30May . 14% Sep 82 .'..Oct.;.A. Seton Leather common P' 9% Jan . .,.,55% Sep 4,500 1,650 ^ Nov 21 50 Jan May ; .. 22"' > - 85% Control.. Safety Serrick , • 18 11% Sentinel Radio Corp .47 ' ,,';i{84%:/ 84 Semler (R B) Inc * 46 Va Aug / 9% Jan : f ,c ; 3% Nov Allotment Apr . 3% • 16% prior stock certificates $5.50 : Dec 12 2% common. / :16% Jan * 8% Oct 12% Jan 1,900 - 40 • Dec. 7 / 18% May 7 Dec , Jan 118 „ 49,000 23,,A 23 SVi July,» v 100 4 . ;10% Jan;-/ ■ 29% Sep 11% Dec - , Dec * 15% May ! .12% Jun • > ..300 < Dec 38 ; , T 1,700 ... '20% : 4%. % 3% 9,700 _ ;.i 4 4 Selby Shoe Co Selected Industries Inc Convertible stock 41% Jun ; . 778% Dec "50 12%. 11% 12% 36 moo ~ v-i2%-*ia% — ; Nov .. Feb 6 Dec 113,;.. Dec 200 * -37ya;" 36% va ■; Distillery Oliver united Filters B Omar Inc— - "•* . ._ 30 150 32V4 113% 7" 113' 113% Oklahoma Natural Gas new torn v 1,300 2% :31%. 32%. class B.common preferred. 4%% Power Ohio 2 % common Ohio Brass Co ■■ 2% 36 11%' "11% common General A Hardware Segal Lock ; I'V 200 : 5% '• 6%« 35 Seeman Bros Inc. O -32 32 common (D A) Inc common Manufacturing. Securities Corp 5:/ Oct;'- 1% Nov ..4.600 Scovill " > i .7 ,3Nov 2V4*-v—1,709. — 9% " f Oc t. .8%'Oct 4,7.00 Brick Co_ Sayre & Fisher 21 j 12,600 4% commpiL,-1 United Corp Sculiin Corp./—--—J,--. Novadel-Agene '[/?". 1 Sep ! 5% + 4,800, • 7% 4,-. 1 Salt Dome Oil CO— 69% Jun 73% May 15% Apr ' 4 37%4,625, conv Regis Paper common St. "7 Apr 111 Sep " *.' Class A $2 Samson 26%. Oct , ■ 108% July ; ,44%.Sep "/ / * '10,800 9% *■' Oorp Ltd pref_ Lawrence St. Oct 21% Jen 13% Dec . ■ Dec 6% 3,700 7% 8hares- £'*v*_ '//Range for Year 1916 "-yv-'-ryX), ; Lowy"-f':^;,'XHigh >: ; High May - 8 s for Week of Prices Low 3% 400 ; '200 , : 6%/ - , Z57% ——I Northrop, Aircraft Inc 34 63 Nov 100;' Nov ,-j.*—20 A—.1—25 Natural Gas**^-. Northern States Power class Low 33% 1 600 39^/4 •39 r.' 6%, 5% pfd.100 Northern Indiana Pub Serv Northern 400 *tZ' Sales Range Last High • -3% ■ 40% i Week's Friday Exchange York. Curb Range for Year 1946 * ; ' 39 . x ——8 1 —^-50 Central Texas Oil- ; • 39 ' Securities.—* Utility American Northern North 39 ; ' New - f Sale Price Highv Low Par class A North American Rayon ,A for Week of Prices "I Sales Last STOCKS $ •%' /"—'?"7" yy STOCKS * i)1,.,"1;'. it . ♦</ < 10% Apr Sep Feb Union Gas 8% Jun 9y» Feb Union T^rds of Omaha—. .100 i 9% 9 Va 9y8 9 Va¬ . 9%. .1,400 . 10Va 1,800 3% 3%; 3%; of Caaada. Investment Co. Unlon Stock 11%' il % Udylite Corp. Dlen Realization Corp.. unexcelled Chemicals Corp:. 9% 1 . 2 Z 1,000 400 .. 8% - , ;. Oct Oct 7 V8 ..Nov:. 5% 5% Jan ,. 19% July Nov Oct' >55% Nov .11% July , 8% Feb 63%. Apr '237.V* h &..1T • 1,' ' h'.l*HW*4XLM " . '/"X ' ;\f! ft'"' ' % Jl '' * *■ ■PAVLiTOfma tAmtAm*.*\tJT..-vcr>,><■ 1 . b-rt ' ' M ';!,Volwme i 165 Number 4559 THE COMMERCIAL ^FINANCIAL CHRONICLE f- V},X:£;*■ v»h.• STOCKS, New York Curb Exchange ' > . ■'.<* , ■ /' t v > United Aircraft ;'■\< : Products United Chemicals •; ' common.*—. '! 7 6% BONDS Shares _ - - 16%- 17 . ._7 26% •>■ ; 100 : rrrX"*'10 100 F6b A6%S series C 60;' May Oct Jan 95 105 - a 7s , (Dec 1 A 7s Dec ■ (Aug series A7s - United Molasses Amer r Co* Ltd— United NJ RR St Canal United Profit Sharing lV''-J. _ 100 - 10% preferred—— United Shoe United 1:;. U S Foil Co class B - ^-1 U S Graphite common US and $5 U S Securities Radiator ; 21% ' :• • preferred with warrants common ...1 . f LZ ■ 250 - - 8 : Y 12% 16% V-15 V 86 15%—;, 3,500 ' 1941 17% F— ;• Oct 3 Nov United Stores.common <—.—5002 "V: 3. Universal Consolidated - -Universal v • O0—, Insurances Universal —.10 'f *-~V 10 25 common Utah-Idaho Sugar ; Utah Power St Light common- > 5 .V' r - —• ---800 -- f 22 : -I-0^> 25; 4%^, 22. Power j-j 25% ?Oo 4% 21%' 2214 j .. > common j-j -1969 J-J -1970 J-J .2022 Gas to.. Light j A . Amsterdam Gas 5s ? ? .....r- 11% 117 • 2,300 : 1 ■ '• Apr .53/4 5% 6 ; . 3,300 '3 X2% >. Vogt Manufacturing— 12% 2,400 :,i 12% 100 2% Jan '. f.. Jan 4% May >r'£!" w 24 Apr y • 3% Wagner Baking voting trust ctfs ext—•" 7 % preferred.— 100» Waitt Si Bond Inc Waltham Watch (new)— 12% v,, / j, "3% Ward 1 >: - — 2% 8% ■— West Virginia Coal St Coke 5 Western Maryland Ry 7% 1st pfd—100 Western Tablet Jk Stationery com • > Westmoreland Coal— — Williams (R C) 10 -• ...f: Willson Products —1 preferred ww Winnipeg Elec common Industries 100 j Woodley 10 (F W) tmml >-,-•) V-* ,g-.. > «_ «v 40% v "" Feb " i 5s % 6% £1 14 > 32% Sep Oct 13 275 Dec fc 17 Spalding (A G) \ : 29 - l AStarrett Jun - Stinnes , mm ■ f . 3% 800 10 ■800I- .1961; \yrltlng Paper 6s Elec Power 3%s—— .1970 J-D or United Appalachian Power deb 6s .2024 4%s .1953 J-J 5%s A— .1955 no; M-S Assoc Electric T & T deb ^ Atlantic Utah City Electric 3 Vis 1 .1964 Telephone of Canada— 17% Mar 7' ■ > Bonis 1st M 5s 6s Power & ; Bethlehem Steel 6s___. Blckford's 1998 Inc 6Vis 103 Boston Edison 2%s .1970 104% ii ' #v •V'-'-i1 —£■' X J-D .1948 J-J / .1954 Jan 1966 Oonv deb 5s : .1950 Af-s F-A Debenture 5s— .1958 .1969 A-O Consol Gas El Lt & Pwr 1st ref mtge 3s 1st- ref Consolidated Gas Gen V ser A 1st ser B mtge 4s Eastern Elratra & Fuel Water Lt Finland 5s Gas & Residential Trunk West RR 6s series Indiana : Af-S Af-S " 110 115 108% 121 - 489 r>' 4 ; 67 K: 67 A20-year - k. A. : 103% 101% *Ist lien St ref 5s—^ Indianapolis PAL 3%s 107' 48 30%. 48 A-O 92 y2 2 • J-J 104% 104% 4 J-D 106 6 106 "104% ,107 % 106 v 110; - ^ ;; 4io3ya 104% - 103 ; >106 % — 1952 — 1043/a 104% 104% 109% 111% 111% 111 116 Light Co— •' Hotel— 111%' M-N —.2022 ,i , 5s ' ' " 1954 68% 71% 1964 J-D A-O 105% 105% 1960 —— :1.: $115 y2 J-D - > ' v 58% 91% 107% 110% 106 109 >.$109% 110% 2030/ :. i ■ 115.. 126 100% 106% , F-A 1959 102% 102% / 103% Interest 105 106- ■ 102% 104'A 1053/4 2 62 >$273/4 29'/a* - 104 r$__ ' —' ' 23 — ^ 6 A Lima J-J • 1 130, Bend* Bid & Asked 108% Interest •• A7s A7s Range for Sold Year 1946 : F-A 81 24 to 2%s 49% y4 124 130 75 $17; xjz ,;r;: Ji'- , ;■? ;>• 85 - >* 91 993A » 97% •- ; 17 32 23% XxXXXx. >'13 y ■ Y 1947 . 52 mm $21% 95% V 95% ■ ; X..Z 30% $52 xx ' ' ■ '■•V 1931 1972 , :.V- ■■■XX 52:'/' K .' r 6 •.-.'.A xXjiX t'.' V —» ' 36 52 50%; - ? V 53 20 Va - ;; Y 95% • 50% >?;■?• Xs\ Y V" •' 30% ) 27% 90 99% 37% 41 ,31% 44 5 j 2%s $~ 2008 Government 1919 > y - 6%s $31 33 > ' V';. 3' 2012 1 43 v *: 1921 * Y''- •• 45/a ' 4% 4% 54 4 14% 4i/2 — 4% 43/4 35 4 14 92 .A5%S : - ... 1948 J-D J-J 1963 $75 78 ' ' $62% ' • • - 60%/ 62% 1033/4 J-D 104% 1043/4 106 % 106 y2 J-J $65% ,65. 104%, 109% g •No 70 value, a Deferred 75. ABonds being traded flat. Jan 1949 A-0 $107% A-O $1033/4 1950 J-J 1970 110 106% . 102% 102% F-A 104 104 M-N 108 107% 108 104 y4 - 2 11 7 102% 104 104 • ■ •' j 105% 108% e Odd-lot sale, f Ex-distribution, * ■■X VV-. .7 ~ - Abbreviations used above—"cod," certificates of deposit; _ 105% d Ex-Interest; rCash sale, x Ex-dlvidend. yEx-righta.. sales being transacted during current w—* {Reported In receivership..w " " , —.^—1963 105% 105 * __ sale, delivery $ Friday's bid and asked prices; no , . par Ex-stock dividend.- -n Under-the-rule sale. 1043/4 106 live; "conv," convertible;. •WV mortgage; >■ •' " 7 numula »ntn "n-*/* tiOh-voting stock; ''v t c," voting trust certificate*::: "wi," when issued; "ww," with warrants: "xw," without "V'1" "cons," eonsoUdated ~'M warrant*. • ' " \ 31% 21 i ! ■ „ ~:u. is 83% "":88% 3 - 30 30% • ' 1947 Rio de Janeiro stamped (Rlan A) Interest reduced to 2% ARussian • >Z:': $30 2008 1 1073/4 98 $12% 1951 1927) (issue of Oct. 1927) to ■ ~ 91% 76% 2 High ; (issue of May Interest reduced XXX ,/ .1 •' XiZf 'XrX'- X-.-X (Plan A) reduced > ■;> f Low 76% '■■ 23 > 90 90 1952 6%s stamped 1958 (Peru) -- $91% ; ; ' n $21% ' ■/>;:■■ NoXX High X $76% XXXXrXX M-N 1953 AMortgage Bank of Chile 6s Mortgage Bank of Denmark 5s Parana stamped (Plan A) 126 55% City "Low ■■■■J- 1955 AMedellin 7s stamped Mortgage Bank of Bogota— , 102% Vr 77. ' 105% ^ A-O —1948 Maranhao stamped 103% 106% >>61 ,■■■ 5s - 104% 110 117 7s (Col)— April 1946 Jan 1947 Danzig Port & Waterways— -v ,l! AExternal 6%s stamped _i 109% 121 Last - Sale Price ;• •> 107% 37 : 6 Week's Rang* or Friday's Friday York- Curb ! Exchange Valley 7s Extended 107V4 1 Jan 1949 5sz 106% 78 102 91% * 1958 3%s_ 99 > > 101- '' 73 v 51 > 108% 108%; 105%;. M-S 1950 ser 108% ,109 ! : -1949 Danish 5%s 112 104s/a 104% : >• — '>V 107% 108 ,;j ,' J-J (see Mortgage Bank of)- Bogota I. ACaxtca 110% • 50 47 102% 102% 105% 1053/s , 103% 108 .. —1968 — — 103 103 T 103% 103 7/8 />:. IX: 108% 105 32 1946 —— Agricultural Mortgage Bank A 20-year 7s ' - 8 843/4 64 10314 " J-J 1956 4s Power B Service A-- $119 Mtge Bank— ser 165 \ 1965 5s_. Guantanamo St Western 6s Hygrade Food 8s 165 V " ; 1993 3%s AGeneral Rayon-Co 6s Mountain * t 85 104 , f 104 A-O X- 1013A 105% iro , 1961 Grand - —; 1993 : stamped Green • .. .v-y:"'- 126 98 993/e 99 3^ 107% 107%, A-O >y:j't Division— 1st mtge 4s • 1981 1954 N J : 82% 573A 4 (Bait City)— Western RR— Lackawanna of J-J 107% 120 - V:,;108 M-A 110% 1 105% J-D 1976 mtge 4%s— Delaware Lack St "' 106 9 ; 1969 Q ser 4.. ! 103 , 125 ' 1946 BONDS (Bait)— P ser 2%s ref 2%s series R_ 1st - mtge • 4102 %/ A-O Debenture 5s X 82% ■' ' v'' $120 Foreign Governments & Municipalities 108 111% - ,110 61 ■:. y. 104 155,:. 172% 104% . ;>:VvC 82% - "1593/4,. i ^ 107 107'A hMioXz/XX J-J I 1950 Penn Traction 5s 111% 105 105% 105% 82% M-S Af-S ! 110 : 'XX** >/ K- lAChlcago Rys 5s ctfs (part paid)..1927 Cities Service 5si. 180 105% f ' 101% 102% 106% 106% 106% $114% 115% '''--'mm ■ J A Central States Electric 5s 105 y4,108 - . .$106;.) 107 F-A 1989 Penn Electric 124 99% $165 A-O 159 : 104% 118 , 108% 108 y4 Q-F .1962 107% 107y« : U02% i;>: * \ 105% 105 High 100% 108% 108% Af-N 107 A-O ■ 1971, ,/>A Sis income debs/— ;— Wash Water Power 3 %s—...— <6% Feb Low 102 % 103 J-D .1960 — 103% ' ;il593/4 • Period .1957 ; 109 -- 1970 Railways (Maine) Waldorf-Astoria 1-Feb >' B„ series series C_ iOB% Year 1946 - No. _.;V-v 103% ■■ 10a 107y4 Range for Sold High $119% 120% MS 91 105% ■''X . Debenture 6s series A New Bell 106% ,'76 >v 1073/4. > .. (Calif)— 6s series A——.—. Apr Feb < 2% Oct vi 1023/4 *• - A-O Light & Power Co— United Light & Jan 16 109 s/8 110 A-O Associated Af-S ,1st lien & cons 5y»s Apr Jun 17% 411% Oct Friday's uoiy4 :y J-J 109 y4 102 --$107 J-J 1970 United Electric N J 4s May 11% Sep Bid * Aakod Low Appalachian 104% • :' Week's Range v.": Sale Price Amef 107% ■ _ 47^ 109% Jun 112 Dec :t;V.'8% Nov.. J . ' 7,700 Friday v.'-'i: Last / f8% 106.. $107 , M-S Western Newspaper Union— 6s conv s f debentures BONDS York Curb Exchange ..t. A-O Corp inc 5s West , 103% (Hugo) Corp— West New 105% 107% 109 103% 103% V : t76y4 91:, i" J-D 1965 Toledo Edison 3%s._" Apr Jun 3F 20 Dec >5% COO ; 33 15- : 9% Sep 7 213 •' 105 105% -■ / ?■; ,tA7-4s 2nd stamped -, J. 38Jun Dec-,.- Sep t'i > 106 ioo ,14/"* 'ivX.7.,1 3 J-J 1951 7-4s 3d stamped Stinnea (Hugo) Industries— Jan , v. — Af-S 5s 108% 101% 101% $105 v ^ •;"f. FtA 3s A Jan <55 ; ,, Dec 73/4 19-»; , ; • r : f' Mar 24 c,16% Nov .. 600 , .. 13% 14% A-O 1952 _ 101% ':'49%; 10% > ' , 97% 100% $102% — Apr v 49 * ' 1013/4 101% 105 % • 105% 105%., ' — 105% 97 97 103% 104 iV-.108% 3y48 Gas Counties Gas 1033/4 , r t . 3s—... 78 108% ! r • . 1st mtge 3s Southwestern Gas & Eleo 3 Vis ■' "X 24% Feb 1,300 '•' |, • California Southern 16% Apr 155 Nov 300,;- 6% > 6%';> 13% 10% 103/4 ' ; 55 . . . , 1964 California Edison Southern K X'i 3 Nov 350.; — ... ; 14:.. 10 % American deposit receipts preference— Wright Hargreaves Ltd , 26 Va 300 • f Sep . -1949 Steel inc mtge Southern • j ; > . 16 20%./ '21^ i | 1 Ltd— i 18 1,100 , 4%s B. 6% perpetual certificates Scullin 7 May 11% July .115 Apr • Dec » 4 28 150 : , » ———2 Petroleum Woolworth J • Inc 27. 21 " 50 175;.:,,; 173/4.- 83/4 • ; Wisconsin P St L 4%% pfd— Portland Cement 8% Nov %f. 8% y 25 Wolverine Whodall 33%..4,: 1.8% "19% ; f- 1 common 5% ■ 31% '• j,•f^y'''■■$ Inc. Brothers 31% 16% 26% :;<":-24-v 16 13%. 1.8% **'" > mm-' ;/.v 31% (Can) /, San Joaquin Lt & Pwr 6s B 9% Jun -'.v.. Dec 114 >-vV - Wilson 1,500 ' ' 1 & Co Sep 111% ■'~X- .9% 31% : 1 Whitman (Wm) & Co Wichita River Oil Corp -py Oct 7 ... a-o Queens Borough Gas St Electric— 5%s series A ; 1952 7 24 Va May . - 31% > 10 — Oct 2 •>'' .103% , Corp 104 102 $107 y8 : 1-101 ®/8 102% i j-j: 1970 : ..1959 107 102% 100% + J-J St Public Service of New Jersey— /; Feb 114% Aug " - 20 —— Westmoreland Inc ■ - 80° Power 111 Va , 100% 102 Af-N , ii5y4 10554 100 y4 . ; 1971 Public Service Co of Colorado— 19% Jun v ; 4% Sep ■/ ; 100 . 9% ., Dec : 8 5,650 2%.— Dec IV.''XX 2,000 '• ■ mm ;>v ?'/a — : >8% ^•8%-v-; **>•■ Weyenberg Shoe Mfg s • 1.25 9%' 10% 7% 7V4 . >7% Wentworth Manufacturing West Texas Utilities $6 preferred v"i' 108 2,300 ; . 100 100%'>100 A-O ;_1968 .1st mtge 3%s ,11% Oct 300 - 1 % Baking Co warrants—.. Warner Aircraft Corp . "3%: 9% 3%sJ; Sinking fund deb 4s 3% • 1" Co 100 :/3%;v 12% ^3%::. I M-N ' stip 33/a Jf-N 3%s_._.__ .1964 112 103 y4 100 .1954 ———1 Power ;• „ Aircraft Co 55% 105% •109 ; '..t/ 103% 103% 100% .1948 ' iv;.vv. A Waco J-D .1961 i 1st mtge 3s_ 3%s , 1,;: 1 . : ' Light 5s— 1955 ;Park Lexington 1st mtge 3s__ 1964 • Pennsylvania Water & Power 3V4s.l964 ' -M , 27 104% 573/a ' 103 ? ' "Pacific Jan 12]4 Oct 11% Sep I: '■ 5y2s 57 M-S .1950 Elec & Gas 1st mtge ; . 2%. 12 $102% 103% 103% 4 13% 145 Sep 5% Sep 60 101% {" J-J - . ■ 98 30 85J/a '106% 106'/a A-O ;,N Y & Westchester Ltg 4s_. -—J .2004 North Continental Utility Corp— A5y2s series A (90%. redeemed). 1948 ■ .> 8% Sep . 63 '98% KKJVa 2 __ $111% 1153/4 110 110%. . ,s ; Af-S . .1948 5s_— Debenture - f'y- j: 30 1 ' Venezuela Syndicate Inc. '• deb -Ohio Power 10% L17 25ys Gonv * .. — .1948 .NY State - t . 37% : 60,, . 32 49 - 65 '29 /■, 3 ; 88 35 106% .1947 . 1"/ A. - Sep 363/4 59% 32 19 0 '4'" » 40' $107% .- F-A .1967 :; New England Power 3 y4 s_._— New England Power Assn 5s 34% Aug 7% Jan l- •' 100%'101% 37% M-S .1963 4%s Eng Gas St El Assn 5s , Feb • 65 28y4 ■. 1 ' —1958 New ■ 10% -$4 convertible- preferred— Venezuelan Petroleum 19% - -- ' Sep 37%. ..... - 87% J-D New Apr 28 Oct •- 4% r -ly-700 — - V X: 20 5,100 ~ .; ■ 27 Feb Sep . 20 - 101%' -1963 > '7% Jan »- ; w 34% ••"•137 7J —1952 Ji, 37 ' •34% —1957 i Extended at 4% • Dec High 29 1 34% ..1952 5s___ Superpower 6s Milwaukee ' 4% . > Valsper Corp 2% „v-' .10- — Products Co Y<r 2 Y 3 Rangcfor Year 1946 Low NO.,J 34% . Sj ..1952 5s - 33 -1968 Feb -7% Jan 100 •' Aug 20% May 8% May Oct^ 37 1957 coupon) McCord Corp deb 4y2s Midland Valley RR— Jun Mar y 11% 300" Apr 30% 2% Sep-- • 50 24% Oct High '37 KA 1957 Kansas Power St Light 3yas_._ Kentucky Utilities 4s Apr ' 2,600 Sold Low J-D Electric Power 3%s... Kansas Gas Electric 6s 49% July .10% Oct Bonds Bid A A«ke# ; 1955 — Kansas Jan 84% Sep 87 3% Feb Sep Dec 1514 'loo 3%---1,600 : - A Italian Jan 46 •• Week's Range or Friday's Last Sale Price Aug 4% 67% 530 500 23% 9% 294 Jan < 1% Nov 1,175 13 87 i 14% i 8% Jan 284 1,400 10% - 15% mZX. 3 i - +J;. 20 .. - 46y2 21% 3 * •+. US Rubber Reclaiming : i27/e -»i 71 4614 12% ^-5V';,15'%1^ 15% International 1st :• , X • 2 -70 70 25 common—: 290 1% 10% 25 common : . Specialties 290 i% < 10 Machinery Preferred 290 25c •'.»' -,• , coup) ... Debenture 6s ' dep rets ord regis 1941 (July 1941 coupon)., Interstate •" 1959 — JA7s .series E— . , A6%s v Dec Mar 95 Interest Jlnternatlonal Power Sec— 21% Apr 37% May 47 '- s * i Friday Exchange 'i 214 Jan 13% Sep 20% Curb Period ; Oct 34% May Sep 32 850 - ^1,400 v 26%-27 %'•?', 7,200 . 100 U York ; 8 23l4 Nov 7,200 , 10-. v' - ,% ~-w%.; .15,-" ^ 413/4 42Va " * High < ;; '5% Nov 4,800 - : New Range for Year 1946 Low ' v -7% _—*♦••' , < . :K 50c United Gas Corp Ufaited Light St Railways fciu United Milk Products$3 participating' preferred-: , Balea for Week ''■:'Par'^-,:],;;r.'u'y\;:LoiD^High^: com United Corp warrants. .: ' "Range ' of Prices United Elastic Corp.*-— ■ Week's - Last Sale Price .> ■ •. Friday ■- THE COMMERCIAL & FINANCIAL CHRONICLE 238 Monday, January 13, 1947 OTHER STOCK EXCHANCES FOR WEEK ENDING JANUARY 10 RANGE ^ V Friday Baltimore Stock Exchange Week's STOCKS Lart Range r Corporation Arundel • Preferred - Consol vtg 41 .■ 160 Deposit Co Guarantee Fire Corp America class A Guilford Realty Co comtnoti 40 Fidelity « ' ; - 40 I Nov 38 ' Feb, 160 7' 31'A May-:; 13% May 7, 55% May ., I'm $ep. 20' 11 18 15 : > r. ? 40.!' 18 " " i * 16% Jan 188 $«P Brach /!, com 44 44 44 18 Week's 58 May 54 Apr 42% 45 Mar American 39% ■41% — American ft,/Tel—————10U 173% American Woolen -*/// 30'A Anaconda Copper ——.-50 .>,/ — Jan Prior lien • ;*?'*' • V, •' - A. Son Inc • 39% i:)///: :• pfd_.T—100 Bigelow-Sanford: Carpet Bird • — <16% Boston 37% 194 — > 2^647 A High Nov 52% 49 •- 50% 15 Boston 77 >/'// Traveler Corp——" RR— / 7/' y Maine Si —loo ri 5% class A 1st preferred———100 Stamped 100 37 prior preferred—— 1% class B 7% Class C lfit pfd stampede——100 Boston- Personal Calumet ft Heola Cities Service Associates—; — 65% 16% 7% ' . JUn 153 Apr 55 July 86% May ' 45 '445 7%" •77.. Dec; Nov 20% Jan Jan Nov 21 Jan ; %7 Nov >; 6%L pec —7/ 70c 97 -A 250 93 67/ ^ 132 53 4% 5 ? ■/ 306 99% ; '//765 :. 124% 35 Vz 37 A/7-7 • 1 , Electric —————m '■$ Gillette Safety Raror Co i Hathaway Baking common—1--.—-—1 * July 4% 27 $ Feb , Kennecott i-slL— Loew's Boston Theatres Maine Central RR preferred 5% common———100 100 Alkali Works Mathieson . J ^ — / : 31% 1 Assn Inc Marragansett RaCg Nksh-Kelvinator 1 —1 National Service Cos . : 22% : 6% 30 40 32, 52y4 -L 17% l/ 45c 15% 45c 24% 153* Fits Simons Co ■; v-A V-V Oct ; - 120 Corp class- A Util Corp A Connell "'■ '**.-■ ■ Sep 47 England 5%% North Butte Tel 49 25 U 46 / Dec Jan 42% . 11 Deo Oct .a'. ♦ B Sep ./ 60% k Jim Dec 22% Parts— Motor : /v.: 14% 56% 9% * Sep Mining Northern RR j/'V'" Inc common Stores Material Line 123 123 1 —* , vto — t . Quincy 30% 29% 31% 50 25 RR Mining Co American Car Mar Northwest Aug Northwest Util 1% Feb Dec 143 16 25% 25% 26 3% : 29% Oct 24% Oct' 47% Apr 47% Feb 1,811 3% 150 •; "i2% Sep Bancorp Fleece Corp ,i—* 10 Stone ——— Assft 13% * Folding Machine Shawmut 14% „ Webs^fcr Inc & Stop & Shop Inc— ——- — • 1 1% 15% ':7 13% 1% 200 ■13 150 ■ "-1* 14% ' 80 y 6% 210' 15% 16 15 Vi 15% 35% 35% 44% 45% 28% 28% "■ 46% 49% Dec Apr Mfg Bpaboclv Jan 4 Coal Co 233/4 f 16% Apr ■'••• .'■ 87 34 210 37 May Oct, Sep Union United-Carr United — i Fastener Fruit Drug —* 5 25 Inc Shoe Machinery * 5 44% • i Oo Unlted-Rexall United ' — Drill Twist common U S Rubber Smelting Ref & Min com 50 10% 70 S 71 5lVa 53% < 46% 46 Va 49% Warren Westinghouse Electric Corp 9% 161 17% 17 V4 Switch class A 61% 61% 61% 24% 24% 26 / : ' • (The) (The) - -.v ' v Schwitzer ' •"•V.- (/■{• 23% of Prices 66 39% Low AdmirafjQprp comqpon. 9% Advan<wfflum Casting? .... Armour A Co common pfd—] 100 —,100 : ft — Jan 8'Hhoard On Automatic Washer ^ For common I * S3 8 y —3 footnoted see page 248c " 19% 120 — 13% 01 Corp 1 ±5 119 125 172% 172% =K 13% Range for Year 1946 87/6, pes, 20% 33 600 30% 5% 20% Feb Deo 8% Sep Sep 17 90 110 29 200 20 21% 1,600 15 3,700 15% 17% 183/s 623/a 500 27V4 24% / Jad Sep 14% Feb Corp A 5,800 1,200 2% Oct 11% 11% 550 4% 4% 4% 550 9% NOV 3% Dec 6% 6% 300 6% Nov 10% Sep 19 Dec 103 May 37 May 21% 22 Dec 32 Feb Oct 184 May 30 19 Sep ^ rr— 73/4 8% * 29% Jun 9 23 .150 20 1,500 40% 44 /A , A 53/4 ' 20 29 A May May 16 May bet 36 170 Sep, 25 Nov (The) 20% Jim 8% Jan 14% Feb 9% 50 33% Jan Sep 24% Jan 49 % Apr 11 . 9 ^; 850 35% Deo 8 -Sep 28% 900 24 12 12Vs 400 10 7 Oct 16 16% 800 15 8 100 7% Dec 25% Sep 800 8 8 15 15 15 A 600 31% 34 170 31 31 /1 50. 3 - Feb A Sep 8% / Feb ' 25 27% . : Oct 12% 20 V4 Oct / Jan 11% Aug 69% Aug 39% Apr 45 Jan . Nov 30 Jan 20% Oot 14 V» Jan A 37%, July . 10 4 : 4 : stock— common 2 com—" • —t 4 A : /■*■; 3% Nov 500 41% ' 413/i 300 37 V» i83^ 600 14 Oct 32% 50 27 Oct v '>*< 22 35% 303% 26% 27% 51' 51% 72% 72% 25% — 21 253/4 " — .. -: 27% / / „ , 200 — 800 ; ®e^ 41 900 21 Sep 40 250 %. 31 47% Oot 65% 300 ; 600 13 V« 11' ...700 3% 4 16 700 -- - Oct 7% Oct Feb May 61 % Majf 97% Feb 21% NOV 12 / Sep 700 12% 10% .13 11 49% May 26% Jun 45 July 34% July ? 18% Feb ; ' / ;:.8% Feb Feb 32% 41a/4 32% * 25 A 183% ; • Westinghouse Elec & Mfg com 12% Wisconsin JBankshares common• Yates-Amer Mach cap—————5 39% Jam 19 „ ;" Jan 13% May Unlisted Stocks— American 7.% Feb 24% A 47% Feb 4 52 July ] 4% Oct 880 15% 15% 37 Va 38% 14 65 20 : 50 53/4 30 - 153,4 ; > 37% ^, 8% 27% 12 : 16% :' Dec Dec 38 2,050 A; /■: 6% Oct I 100 25% : 7 3,600 38 JB *23 i/A — 3% Alleghany Corp 18% May , Oct May 130 .38 common-—5 common— capital 199% May ' 19 19% Mar 50L Dec 14% 573/4 Nov* • Apr 31 ,31% May 190 24% 165 21% / 18% Deo 50 American Radiator ft 8t San com Anaconda Mill—; Coppei Mining— Rolling Atch Top A . r 3% Oct ^i6 15% Vi Oct 80 ~ -23% 29% 40% 1,360, 104 . Bethlehem steel Corp common—• Columbia Gas A Electric—-—-. 42 1% Oct Santa Fe By com——100 Certaln-teed Products 92 1% Oct 15 Ve • 10 193/4 15% 20% 20( ll3/i 11% lot Jan 94% Jan 15% Oct 8% Oct , May 57% 14f% Sep < 400 59 27% 24 '■ Sep 6% 450 - May . Apr 25% Machine Tool common—5 25% May 134 Feb 160% Nov 15% Mar 41 iidv 200 jun 23% July 5i% jun .15% Apr 35% May f 68 Apr ?/38%- Apr jan :v Feb 50 100 1,000 > /V\; A V'-'-.'-.vatg/i 3% 3 Co common-—Lad capital 208 South La Saile Street Corp 14% 3 * ; Aviation Corp (DelawaMft—. ^ 850 9% 19% A Trane Co 6% Asbestos Mfg Co common Athey Products capital 6 5% 0% capital Public Service American Tel & Tel Co r ; B 10 - far Week 400 5% 8 : 1 Dredging U 8 Steel common— 9% 19% ___ Aetna Ball Bearing common-. Allied Laboratories commohAmerican 9% High / / 11% Mar 35 : Feb V Jun ' May Standard Sales Shares 200 c Jun 36% July 30 ; Hat 17 .: / Oct " Nov * , %\ %' bify / Jan 10 10%, Jun Chicago Stock Exchange Last 19 '/''45 1,000 '{.■■■■ Swift Sale Price 1 —* Apr Feb 79% Sundstrand Week'e Range ; July' . .-i'-c-jf; v':> 1 South Bend Lathe W^rks cap (new)—5 Spiegel Inc common 2 St Louis Nat Stockyards cap— • Sunbeam Friday ••• Curamings capital • 83% • 950 ■w V 10 15% 8 dSoofety Brand Clothes common Oct 686 A ' 10% 160 ——^-—10 Binclalr Oil Corp Nov 108 A 300 13 21% * Apr 41% 16% Oct 49 Sep 21% Nov 10% : ; Sep 9 A28/'g —1 common Retth Packing pommon Stewart-Warner STO 0<H8 Co_-__—— • 49% 95 250 -If —. 50 85 Dec .300 75 ': A:/(! "6 Oct 13% Dec 12V# Aug / A ?A •.:?!? 20% — ——10 1 • Jun Jun 425 17% class B 53% Aug 18% May Oct. Nov/ 13 200' 120 5i 59 (new) com -..-..-IT Serrick Corp class B common-— Shellmar Prod Corp common— 46 52 3A 95 • 12% (S D) Co 41% 125 Sep Jdn -20% > Signode Steel Strap Co com (new) 130 1,951 1,200 • Waldorf System Ino_. , 11% 70% 10 U 48 • : 20 Mar/ 35^ Jan 25% Jan- 33% Aug .55% Jan/, 5% Sep/ 1,400 71 ?8 ; jun 20% Aug „ 210 300 ' f 20% / / 'Dec ' 100 com Sears Roebuck A Co capital— ' Torrington Co Potter Co 1 Oct : r 17% Apr16% Jan "31% Jan Feb Dec ,9ML Sei)./ 17 300 9%- 18 ' .2% Pennsylvania BR capital 19% 14% ,' 400 22% A''A.¬ —«4.*gL-l common Elec Penn Oct 14 80 common preferred— Parker Fen Co (The) Feb -17% 1% Dec -12% / i7% NbV -150 v Feb Jan May ■ Perfect Circle Reece 16: '; Nov 150^ • Feb • 42% Apr, 30 Vi Jun 3 siyX, 26% 20 Nunn Bush Shoe common Oct 10q 550 53 53 • 100 common 132 2% Dec 10% 17% 142 129% Jan 13 50% Nov " 22 31% 29' ; 24% 14V4 20% : ,16% 100 ri.% Dec / 47 ' j r ^ (new)—• • Oct Jun Dec:: 7% 200 \ 77/8 B 3/8 *' Modine Mfg common Jan Feb A'25% 17% Dee' 14 V4 ' ; 8% V ; V/ 22% * A 37 Sep/': 14% A 1** . —• ,, J,' '■9 79"% 69 V2 1 A 8% May r ' 100 -/v 23% 16% 10 Jan ii Feb Oct 20% 7% • A 19 Oct "i 0% <16 8% pec.* 48 9% 22 _ - Feb May -1 ;0 **■ 23% 21% 6 —• —.1 > 34 A 30% Apr 1,150 4- 68% ' 15% 75c 115 ; la .99 69 V2 : 450 : 14%-" > 97/s A 9% ' _L / .21% / 20% A \ 20 3A 10 common Join 8% 1- 1,300 50 Vi¬ 18% 50 3,800- ^1% 19 — Inc May/ 16Y» Dec — 8% > preferred A Hart prior Apr ' 37% May Z Nov .150 .7% ■ —1* Mickelberry's Food Prod Miadle West Corp capital $1 Jin 25% ; 38 18% Oct m§ 18% ' common—5 116% 140 7/ 4 • Pacific Mills common-——: Pennsylvania 3% 100 *'• '14% 20 1 Marshall Field A Co common ' 100 (N H)_— RR—— Colony 3 13 — 54% ^55% .-• / 23 J1-,../ 16 $3.50 preferred — — Lindsay Lt A Chent common/ Oa* Old , Jan .50 Sep 200 9% it 19 • . « Jan 2Va 26 ' 400 / 56% ——/I};.>A: 7% Brown ' Oct 1,900 ' 31% Li.——L—* : Apr 1,850 21 May ' 4i%,jun • .11% Dec 600 18 3/4 9.V' 56 % Cumulative preferred Feb 30 17% 200 9% / ,l*'^ 15%'"' 1 -i.v Jan -••• 95% 140 Oct, 29% Sep 30. Feb/ 20. . ... :9% /•/• V/^ "-f> / 37% May 79% Apr Nov / A 20 18% Jan: 4 . 1% 76 13% 34 18 3 -29- ; Libby McNeil A Libby common——7 Lincoln Printing Co comrnom 1 Mar Dec 250 2,700 . A 3% £. 33/4 --v>. 54% • Leath & Co common— Feb Sep Dec Oct A'-- Kellogg Switchboard common— Apr 253A f 12% /{;i6 / .■;/.// 1 Refrigerator Co common-. Werner ;/• 38%. 193/4 -.■■ ^10 Katz Drug Co common Feb Oct 60 1% 23% 33 i Nov ' 4% 65% May 27% May Dec .21% jun -14%. jun . 7% May 28% • Jan 69 Vi - 200 Feb July 173/4 76 30. . Oct 59 26%../-. 200 34 18 v?/ "A :-rw" Dredge A Warrants Apr Oct 310 1% A 32; 37% 1,3% 0 Indep Pneum Tool (new)— Indiana Steel Prod common— :lj. 223/4 July Nov 6% ;19 Oct 7% NOV L25Q 8 75 23% « r/ Bartlett common——25 " Hupp Corp common_L———— :_1 ; Feb 51% 124% 211 200 91% .■ 26% ' -23% 30. A .• Hibb Spencer Feb 35e 100% 102 7% 70V4 91 . •t 63 A Feb Feb 15 Vb May Sep 850 ' Apr 5% 25 8ep -50 . Oct 110% 1,300 f Jan 160 1,430 7% Ku-S-i.'?•>!■'£ Ar;;;/?.:-* A'• Hein Apr 705/fe May 13 % 118% 121 a 1% 280 - . 24% ' 9% V - ia•.■:.•( /. r Razor: common— Inc. eonunatfc^._):___i_"Goodyear Tire A Rxrbber cohrr_-i_i„* Gossard Qa (H W> common— • Great Lakes D k D common— -• Jan ■ • 15% Nov- 100% 208... .: J'.■ ■': 41% 713 ' 119 1% ^ — Goldblatt Bros North • 100 2.50 preferred New England Tei & 6Va Nov 63 Gillette Safety & Elec Assn—■ Gas 1,100 8% . Montgomery Ward & Co New 3% Apr / May 25 50V2 13% Nov 21% / — .Corp'"c6mnion__--—-l?;*' General Finance Jun 350 ■': 100 118% 119% ;GeneraK-Caaidj^!Class^^ri^--i;«—-—5 Jun 145 175 , 100 204 ——,-5" Flour Xfilla' of>America.Inc—^ 0% Apr Dec 39 ^ -v; '■'* - - common—— ■'"•"v Miller AA/ 2% 15% 8% . Hammond Instrument Co common—J.-1 1% Dec. 130 «: 16% 40c 4% 28 100 56%; 16 15 •: 305 77 1% 18% 41 A',/ -5' •'A 100 ; V 2% 205 31% 1% 17 100 7 51% 16 •/ ;: 6% 9% 7.935 . ; v. ; 7% ^- Harnischfeger Corp common.———10 Heileman Brewing Co G capital »i Aug 33% 2% 31% — " — 245 18% 16 A/A;.' 913A May Sep 21% Oct 61% Nov -X.201 * 56% * 1 Mergenthaler Linotype 16 77 10 . 3(04 % May 26 84 734 2% 49% vtc——V: Util Associates Mass * 25 Copper 9% . 2,025 32 1S% - ; »- '■& 27/« —-w45 Copper——; 37% 30 3/8 - Corp Seji Jan / '/'!7 "113 59% 203/4 Nov 8% 6% : , A Sep / 115 fe84 32% 35% v 10 10 Int'l Button Hole Mach Co^—_— Roy ale .. 'A A 22 30 ' 31 57% 577/s 36% 30% General Isle 20% 29 / v; / • Stores National First 2^ SS Lines Inc common——.—• ; - Credit Domestic ' Eastern sh vtc A~ par Electric Household -r Employers Group Assoc___i—— Engineers PubHc Service Jan a..^' , Gibson Oct, 95% 7/ 60 « 33 Va General Motors Corp common—-—10 12% Feb 100 98% common— Elgin Nat Watch Co new. «nnv *, Jan 20% May « 5lC,/ I': 122' •: • ■. r preferred B—.——-——-—100 -7/— preferred adjustment-*——-100 - • — 250 t/— 23 dep 14 61c —-100 1st pfd series A 6% -• 22% Jan 6% Oct "• 35 22 i 40 podgo Mfg Cojrp common new,^--^TlQ;v::'; 13% ,"■ Jun 91 6>/a 7/.; 28 18 38 ...... May 6 6 ' 7/ Nov —5 ;v; 23% —* Coleman 25% May 150 Dec 35- 77/ 10 7-:/ 264 6V2 15 % *• t 6% 5% '' 2,300 Cltifs Service CO1 common—i.-i——/-10: 70% Jun 51% Feb 34% Noy ; 60 123 - 130 66% 06% preferred Corp- common- FouivWheeLDrlwr Auto-^ ' 26% .ja/" Sfi 66% - •''* J—100 Common 7; ;\ /; y, 7 6% : Ry-^ Mass Street 38% 0 26 V4 • prior preferred--—7—7-i_l00 preferred _———100 Eastern 7 ■ < 4%% 6% 65/« T/;— A—iiui—_—--10 Eastern Gas ft Fuel ? . 10 / ^ Co— Boston :i 6 PropTrust——,—- 7 —-f iUii*———5 -7—77 —- A; 37 6% 1st pfd stamped—100 8% East : 36% ;.37%/ ; Jun 20 ; ( May 18% II8V2 ,,205% • States Pr A Lt Dock Boston1 Herald 66 : 20% V, 19% A Consumers Co com Mar 44 651 ' Sep "400 " (SMteV Co Ip«——5 * Commonv^^th Edison common .20 Oct , Nov 23 2% Feb Sep 120 / 1,502 • A: 69% 66 265 218 7: , - 23 Feb 59% May ; Dec 15% Jun Dec Aug 410 ." 30 "850 11%'V Jan 10 - 22% I — Burrell Doehler-Jarvis 140 a 17% ' 26% 'f 17% Feb 30% July 14% gep U% Nov: 37 22% -50c; 58 3A Nov 30% Jan 34% Oct 504 140 500 700 A""1' A Oct '• — 2003/b 19% Ma* 159% --349 ' 40% 131% 133 RR—7-100 ; 132% Mdlaoxi — 25 ;// 49% Elevated Ry 100 :: 69 % UotiWU '; 140 *17'A ————,? Low 140 42% './■iuill Chicago Towel Co som capital—. v ■ Alb&hy ft Boston 40% 400 12%, : 47 150 —* preferred — Chrysler Corp Range for Teasr 1946 J 170% 173% 29% 34% Tea' American ,17%/ - ...... 10 Umcago uorp common Convertible preferred Shares High 7 2 ■»;. __ 1 /■ commpn— Convertible preferred Central S W UtU common-^—4 far Week •< 14% Dec Chicago A Souteern Air Lines-—%:■ 7% Bangs of Prices P«r 7//;:7/ Agri Chemical Co————♦ 7 Sugar Refining common—100 /•■/— :«/ ./ !. ,!7 >' *'"// 12% Mar 450 ' Jan Sales Last k-;.[ 800 153/4: ; Exchange Friday 14% - ' Gherry Sale Price \ 17 20 Z ilii/ 45 i •r-5 — Central stacks 250 19% 14 / :,'y. High A. 49% May / ♦: Dec' , 15 . -10 Carr-Consolldated Biscuit common Castle A Co (AM) common- Dec 40% Oct 1 t>0» :..29 Jan Preferred Boston Stock l new)— -2% common—L-_ Central HI Secur Corp 38 46% Mills coin Range^fot YCar 1946 •;,V. 250 14% (E J) Sons & - 15% — 313% Aug Dec .19% capital 1 jBurd Piston King CommonButler Brothers eofhmon-—--—^. —10" Aug 58 ■ Mar 30 38 45.% National Bank. Western inc 1 36% •• High 35 AIo common——. JBorg IGeorge W) Corp———. ') 46 Fldeittv 8 Co Bliss &. LaughUft; 19% Jan •*;; y Dec.1' 38 300, 17% 100 90 ;, Nov 159 - 150 20 ' A Guar—- Mt Verhon-Woodbury rr Mfg Shares Low Berghoff Brewing Corp JBmas Mig Co capital— am 4% Feb . 12^'n," 316 18 4mm::- 21 665 800 f 8i;1 315 Finance* Co of 205 Year 1946 Range for Sales for Week Range of Prices * ... Co, common^—- Borg-Warner ^COrji 81 Fidelity A ; i/o 7 7ii % 11% ^ 24% V 9% ;4Q Power coih- Sugars Assoc com v t, c. Eastern 7 .. 9 400 ' Betden Shares High 24 t c_. ■———& E L A Gas 24 ya .— common * Transit bait. Low Bastian-Blessing for Week 'or Prices sale Price Far f Par Sales Week's . Last Sale Price /rAf-AA".• -»Tde.KS-::. vt> Adg 51% Feb Uo Jan 106 25% J® 13% May- . Volume Number 4559 165 THE COMMERCIAL & FINANCIAL - CHRONICLE 239 OTHER STOCK EXCHANGES RANGE Friday ■ n of Prices 10% Curtiss-Wrlght 10% 5% 5% „ 5% 400 Farnswortb Television At Radio. General Electric 34 Motors Corp Iron > 5 Laclede Gas Light.. Apr ; Nov %, Dec Rfchman Bros S Steel Van Feb 20% 5% Oct j . U yl3Vt Jun v Warren &% May Nash-Kelvlnator New York 15% capital Packard Pan Motor 18% 200 30%>:337/a Central RR North American Co.. 16% 177/8 Corp ; 300 Car Amer Airways 2% com new 12% 287/a 31 Oct 37 100 . >•' 11% * • 23% common :•' 1 -• ■ . • .■ .. {'■? 23% . "*500 " Oil of J N 111 65 Va Oct 125 20% Nov I'f.-." 20 —. .. 310 80 a65% a67 34 al7%al7% ; 3% a267/a a267/a -v 60 - *, 3% 27% 28%. 300 14% 143%. 15%. 1,300 69 % 70 : 206 * 21% "8 22 25 £ 1 ——1 common •• 1 /:?!'•£ a. 8 ,3% 28 Oct (>- 40% Oct ; 187/8 New York Stock July 13% ^ Jun i 18% 7% 900 14% > Apr Detroit Stock Exchange Ford 2,600 ; 38% May 14 May Oct , 3% OCtf: 6% May rv 66% Jan 12% Sep 300 86% VI Apr Detroit Stock Exchange 20% July * Week's Friday Sales ' Last Industries American Launary American 17%"' ———* Products —20 Mucninery 17% Cincinnati Gas • 20% common.u....i..^8.50, Preferred Telephone Cincinnati Union Stock T t——50 *' 98% 22% *_i——* —.—— _.J. Gibson Art —1— r Hobajrt clqsa 68 ..i., i , 106% Oct 50 Gamble, * 8% preferred Randall .class Rapid —-— 5 lid g'• / • 815 3Tfe 13%-15-- r •" U, S. Printing— 44' -v"45 51 50s;: 100 f ■; , Feb. , .7^, ,Apr251 May Feb: 8% 1,004 13% 50 32% Jan ..•-•••-•'--57JUtty " . 10 49 Nov ;^ Dec is 'Nov;-; 53% Mar — — — 'General Unioni"V.<; Oil Pure Timken ' '■,, i — , i8t; ,.10, Roller Bearing— Kinsel ,50 V:-: • ' > - : : ' ■ ■ -STOCKS - Friday , Jan, ft ; BalePrloe . gli>V«| «f Prices - American Tel At, Tel— ,— ■■.■■■ ...,■■■—100 Apex, Electric Mfg.—.-1 ? common Metal Products Prudential Investing — *J"* Controller 1 — — Elec 111 common Cliffs Corp Consol Natural Gas /Eaton * Mfg ——5 (Un)—15 X 93" 26% U 93 81 29 V 4,208 51 a51% a52% all%all% 19% 20 : j. ,20: , (Un)— 25 (Un)?.-..1.—»*.—1 uenerai Electric (Uni General Motors. —1— Glidden Co common ^ * common Goodyear Tire A Rubber common Drugstores * ;•;>: ^a66% a67 * > J-' ;Vfei a54% a55% * 21%. 21% ;* : -,*. ■.-■*'' / •': Industrial Rayon . > • . S Radiator /• ^ : " £e«ey Island > 1* National Tile * * "* :• . Ohio, Brass 20 83% Ohio Edison Ohio Oil * 4 *«»' *• •%.: A r i. .. For footnotes — .. (Un) r '9% 6% 7J/» -: 4M| .10- - 10 '' a.' 8 page 13 , 25> - .•>'<»» -- 65 450 - 50 246. - 31% Nov Los " Aireon i Mfg Corp Bandtni Barker Bros y-y Consolidated • 1 45 95 25 •••* -54 Jun 20y4-Feb ; 45% Feb 35% Aug 53% Feb •«,• - i7y4 Jan 17% Feb - -19 • f x ; - -3% 2,000 5'. y. Jan / May 12% Feb, 7% July , 47% Jun 7 Dec Jan 4% Jan 6 %, Feb ' Oct 3%: Dec . Jan 21%. Jan . Sep 3 < , Jan 5 ' 650 8 6% July ; Dec 10% 960 93A Dec 4% 4% 160 33/4 7 ll'/a 12 Jan. 19% Jun Oct 6% 13% 10 . 9% Jan V- 5 1,000 > ioy2 >318:, : 225 14 14 " 14% 15%; 15% : >8 Mar , 995 11 Va r17 Oct * 9ys Mar Oct 750; Sep ;17 2 450 2% Jun 207/a Mar Dec > ' ::2 487 2 Va 2% 1 23% July 13 15% 2'/a 4/- Jan Sep Aug 6% May •V4 Apr 29% July A Week's Last Bales' Range fer Week Prices: Shares High Range fog Year 1946 2% 4 3y* 23 y4 Low , A4S 90c 5% 2%* 77/8 885 Jan 6% Jan : 41 Oct" ? 1.78 May V 6% 4»A Nov 6 2%. Dec : 9% 6% Feb ; 8V4 ^ 5% Mar 17% 13Va Dec 5% >;>•-• 650. . ;. 356 r 17 y8 - , 26 60c 2,400 7% 7% ' : 1,575 2% ._ 2 24% 85c •.< 23 v Bid* .■ ;••• 5 Nov 3% Sep > 836 3%/'>.!>,-: 800 Jun Aug Oct Jan Apr Dec 47% * .——100 Corp common Central Investment Corp 1 Chrysler Gorp Colorado Fuel & - > 28% 22* Preferred 8 •> V Iron common —20 • ConsolidatedSteel Corp new. com Creameries of America Inc 31% ; 23 Co. ! Ltd d iss A Tele & Radio Corp :Fitzslmmons Stores class "A".- 45 I .1. 31%. 25 a21% a2iy2 ... 13% ' 1.80 ; L• 100- a8 ; ; - Nov 31 '• 20,325 180 -• Apr Jan Feb Apr Jan f 20% Feb Apr 2.70 May 7% Deo 8 Aug 16 60c - - . I Dec .9 - -- - 33 y4 12% Nov 420 , Jan May 98% Apr <• -16% Nov 700 14y2 -—--785 13 — - 20 . 2.05 a8%_ 67 - Nov 32% Dec 16V4 Nov 410r--'-20% Nov 15- 8% 1.80 a8 — r/. f - 4,370 ---- 14 8% ; 375 a74%a74%%v< 13% ;' 730 185 •- . 28 Dec > v> 45 33 19 Dec 25 16 Oct - ?. 136% 76 Oct 23% 10% Oct 24 16%-Oct 229 230 31 — —- Electrical Products Corp —X ,a Emsco Derrick & Equipment Co ' ^ 23 . Douglas Aircraft Company Inc—j *>••. Dresser Industries —~—500, > ' . , 2,630. 14% 14%' al9%al9% i. i 287/a 13,650 22 > 22 ?. 20% 20y» a89% a92% al9% *, 7%> 14y8 25% >■ Products Corp Certain-teed -, 13Vk 14 . Jun 19% Jan 16 Jan- Dec V 41% Jun __ Sep ; lL'-y7%'4> 7V» Corp California Packing 32% May Nov 19% Feb a25% a25% 9 1;; Co... Apr 15 Nov 7S 8% 1 77 ■'i'"* t •*"'">) 8 3% Jan 3y4 Nov >» Jan Apr Exeter Oil -3(1 425 V/a 4!/a 7%; 4% • common. — Oil Chlca Farnsworth • >• Oct 36 1,340 Friday Bolsa Apr Jari »"*-» 4y« Broadway Dept Store new common Dec »v-4't 4 : Janr 8ys Deo 4 45% May Oct 6 800 __ Gay Furniture 8 a24V'a a24Va - Berkey & 6% Nov - - 5 ; > • 110 4% ;;: Jun a-- Nov 9 : 2%Nov / 600 6 9% Feb Angeles Stock Exchange Blue Diamond Corp Feb 8-' -Oct 150 100 41% 50c > 7>: 3 Company^.——1/ " ■ Corp Barnhart-Morrow 987- -• 16 620 37/a ... Petroleum 2,030 --r 5% „. : -88% /10% Oct a36%a367/8 : * - '■ 1, 80% > Mar a32% a32% -"--1^1.-.% ; see 28 6%„ • <■ class B.J se1/* Dec 3% • ' Oct 154? 6% 14% Jun • Nov . Jan 34 . ■/ : oct; > li ;r Oct Oct 6 300 Low Apr ,v.;v: 32 13% 2%. Mar \ w^ao%-Jun Sep 600';; ;/2 4,610 •( Oct 52 36'■> Sep - '10'/a 9 ' • 3% . B_— common RR : 9%; * 6% . 1 70i 38 > 35% a35% a35VS * ■ *•■■■ (Un)___ Pennsylvania ; . *—r - 50. 265 Sep- 1 ;f- Aircraii common Warner yX ^15% May Dec Deo 12 2 34_ * .v; common common STOCKS Feb 23% Jan Nov' 12 32%- 33% 13 Paving Brick... & Mfg_.l class 10O a39%-a40% al2 x. 32%' —.—10 ;; Nestle LeMur class A..' •' .. Lime A Trans. Sessions.—, Metropolitan - 800 100 12%, V/» May .71 35, ;; 59%. Nov r"; 156 - - 58% Oct >; 180 ;; 20y8 Deo 14% Oct, Y 34% Feb 36% Oct > 4Va 2% >, ^ July 60 ^---82 —1 47% Oct -■75 10O Jan 263/+ Jun Nov 4% 200 4^.-^:44.—^..———1' ' Jan 50 Oct 33% 7 iv2.1% 10 s; 1 Wayne Screw Products new com 104% July 10% Sep< 208 ' v- i__ Jaeger Machine Jones & Laughlin Steel (Un)J__ Lamson & -lOG-"-- - ; (TJn)' (Un).—. Steamship _.— Interlake 14,% * hiterlake.Iron •• a47% a47% Griei Bros Cooperage A ' 13V*: 13% a36y8a37%^ a53% a54% - — 10-. (Un) Goodrich (B F) Gray ' ' p—, 14% 2% common...—.—1 Basin Oil Co Gabriel'Co '*?■-17% - . 9% Oct .17 v,Nov, 51 Jan,, 32 . 84% Oct > 38 Mar *' 19 Sep <42% Jan 37 235 915 290 : 9% Feb 153/4 :" - 19%r ; i common 44% May Deo 39 Dec • ; ; 9% Sep tr'+'sS1"**, cu,', V , 30 Dec 18%. 2% Jan 8Ya Jun * - 200% Jun \ 14 . 50. 610 a56%-a58% • — (Un) * ..V Faultless Rubbe? ^..i.^—....—.../.I, Firestone Tire & Rubber com 26" 12 - 8% "< 25% May 35% Nov; 27% Sep 7 a52%a537/» Z—1..^.^,.—4 Mfg- —l-li —». 11>' '< sy8 1: 2 a ; ii ^.4.. United Shirt Dist 6% Sep - Oct" 21% 1,707. 41% ; — : new J Udylite 5 Sypy'5 a43% a43% Railroad Erie ' al6% al6% — Cleveland Cliffs Iron pfd^—.w—.I—* Cleve " a31% a31% Jan 80 A;.v,,%■&*&»■• •'>v Scotten-Dillon j&Jft' 31% Deo -63/4 Feb <• f. 5% Dec 200 5»A 25% 1 (H W) Standard fube B 159%' Nov 250 - Nov 4% 2,825 6% 35% ; — Co River Raisin Paper ' Jun ' r: Oct 493/s 1,347 - 6% • 2y8 2 Peninsular Range for Yeap 1946 7Gf 1 6% 35% 10,,;: Parke, Davis - 174 70 55% 4% 1 -V;;- 1 28%May 3%,, Oct 12 Sep 1 {■■■ * Motor Tivoli Brewing 50 200" , , al72 al727/« a8% a8% •" '•*:^ y a4 a32% a33% ' City Ice & Fuel—. Clark . 13%, 13%k -1, American Home Products com(Un).-l' ■'"! a4 • .13% 2 8y8 >1 Oil common 80% Aug -' Aug 21 11 "Oct; : 19% Cay————*, Park Chemical Co— —1 Rickel Dec 5 4% Mar XOV2 1 Walker & Co Alleghany'Corp (Un) —t——<•——X Ajmericanj Coach A Body ——5 Deo 100 25% 10 comujotu:^..—<^^....10 >' 53% May 65% Jan . 3 1,925 16% Screw Prod common Packard . Last V, <> 19 % : Corp >4—— National Stamping Exchange Wedt'e; '8ale«'" Range ferWeek .. May Dec 16% 100 ,3J% ' 1 Drug Sheller Glevelanit Stock Apr 17 2%;;; 1 — Mat 20 28 May 14 9% Feb Sep 5 Vaf 6V4 ... Products. Kresgq. (9 S) Oct Sep ,.X Murray Jun 42 t 2% Car Motor 16% July 5% LaSalta Wines common———.—2 Aug; 41% % £4.Wi Bearing- Hurd Lock & Mfg common Kingston 13% 54 1 Hoskins Mfg common Hudson 23 23% Jan Dec 2% 1 : :■ r •';WV;■ :■ Casting 34% Dec 39% NOV 62 * — Oct Sep .j4. 47% Oct 167. » 42 R7% Sep, - -99&-/• 8% . Brands.. Standard *>■ L— — 22% 75/ *i City Ice & Fuel.——— Columbia Gas Die y & McClanahan ,55.^ja7St Jan.; 11 ...w._>10 Brewing Masco 3> Motors •Hoover Ball Nov Oct 5% ; — Michigan Feb 17% 1,564 4% Brewing Gerlty Feb Jun 10' 200 13% May 5 21% L'Vf ; Ale General Oct NOV 2,100; > 4% 53 2V8 7% 18 .—— y>" : Dec. '.V'•> American Rolling Mil! L±*m Cities Service —: Inc Oct 31% 13% 1,095 12y8 18" —— \ Goebel ^ 'r 65% May >%.14-;UApr::. '' ■ % : ^ 51 Corp 26 Oct 5 7% Feb 15 %* Oct 100 6% 6% digA -- Oct Dec 400 v 11% , Dec . 380 < 8 ' 270 ; 400 V 107/ff 25% . Graham-Paige ; 3% Nov • Steel Friars Mar" "v'l5 . 43% Oct 8 " Dec 250 Navigation.. common Federal Motor Truck common. Jan 70 Cleve Edison Detroit-Michigan Stove Detroit *< 7% Frankenmuth 56'% Mar « 53% Oct '39 . Jan Dec til 25" g .V -3% 37 20 10% 2% - 450 2% 20 :'''' '/-V 29% May Dec 57 125 65Vv July 43 %; 25 249% 250 —100/ .* •: —* .Preferred —-———i - 62% • ; : May "22 " JV. Motors 106 •; 15 18% Sep, ; 50 - Mar 10% Apr t v May 86 35 Machine Motors Electromaster, Feb 20 35%. ■2% common 15 Detroit Dec '115 ;r 35 • lS'/a 147/s Detroit & Oct ■•; 30% Oct 11% i4ya 14% 49% 'SOya- .j 121 13% 15% Davidson Bros 25% Dec Sep. 101 69 ^ 42% -42%. t. 22 1,722 - 22%j , Mar ho* 900 —2 Continental Jan 6 >13% May ,r? 3 Consolidated Paper common..—, Apr Range for Year 1946 High Low 575 Mfg Brown, McLaren 46 y< . - 12% Jan 52* 24 ^ 22% Oct ',•>40 13 Eagle-Picher .—.—.10; Jan 160 99% ' 13 Formica Dec 1% 5% Mar 270 , Yards. -31% 24% Shares 1 Burroughs Adding • 107% 109 13%' u:~y ' 50 Cincinnati ' y' Dec 6i 21%29%, 29% 100 — . dnolnnatl Street 285 V -4 ^ •':"25%»25%'; Fifere hew^-ii.i.*■ ; is 50 4 . v.'':)*1,;," Champion Paper; & Churngold Range for Tear 1946 High 32 % ";<.. 33%-- .V ——,—* —1; Balcrank Briggs Shares tilgh fer Week "400 Products,—. Metal Range •f Prices ..—1 i American for Week of Prices Low —L. Products Allen Electric Sales IX Range Sale Price ; Par Aeronautical Last Far ;; Exchange Week's Friday 4'." \ Jan Telephone: Randolph 5580 22% May Oct = Cincinnati Stock ; Nov DETROIT Building \ Procter Jan 83% Mar 31 Jan Chicago Stock Exchange - Sale Priee Meteor 15 5% 44 - Sep New York Curb Associate Exchange 78% May v- 11% Oct T- '— V v 3% 62% Feb . •vi'.-y: .. ' •ii-:':10-;-;-Jan. - STOCKS Kroger Oct 57Va WATLING, LERCHEN & CO. Feb 25- ; 200 common. common 1 i' 83/a 14% 3% Co Aluminum 3% 21% Nov ' ' July 30 28% May 15 y» Oct ; 400. .■ 27% United Corp '■ 152 20 Aug * ' Oil Corp Rubber Co : 15 Standard Steel Spring StudebakeT Corp i 97% Feb 34% Feb 449 a707/8 a71% . Jan - Members 14% • Standard Brands common Wilson & Jun a24% a24% . — • (Un) 63 Aug i .67 $ 0' ,"';Nov ^14%: 14% Socony Vacuum-Oil Co Inc U 8 - ■' ■ Radlo-Keltb-Orpheum Republic Steel Corp common.. Sunray 32 38 37% July ,, Feb 20 Radio Corp of America common—. Standard Door Feb 49% Sep 20% Mar ' (The) •'k > Dec 21% Sep 54 i Deer Pullman Incorporated Pure Oil Co r Steel 40% 10%,May 28%;' Oct ,,400 33% : Youngstown 19 Oct Jan 5% Oct 2 Nov 446 52%, 9 24% " __1 Tube & 51% High 55 150 ,,.w Apr 35 Refining & Chemical Low a9% a28'/a — Range for Year 1946 High a9 0 Motor Shares a28 .. • Works.. Sheet Low r 10 common (Un) common Youngstown Jan 24% Sep - 14 25% - 12% 1 Corp Pepsi-Cola Co . & Jan. r.lr 44 900 : 6% 6% Paramount Pictures Inc 1,000 32% Sep 13% Oct K _• Dorn Iron White Martin, (Glenn L> Ct> common.. (Un) Standard OH of Ohio Feb 51% , Nov, • • Corp of America, Republic Steel (Un) , ■ 10% common Oct Feb 16% <:'7% Dec: Co. Graham-Paige Interlake Radio 20% ef Prices \ Per 12% Oct. Bales for Week Range Bale Fries • High v 10y» Dec 200.' > V Low, , stocks— ". Week's Last - Range for Year 1946 Low,'High Continental Motors 10 Friday for Week Shares . ENDING JANUARY V Sales : Range •/- Sale Price 'r ' , Week's Last t STOCKS WEEK FOR Feb 2 '* ' • General Motors Corp common 16 —, Gladding McBean & Co. * — Goodyear Tire & Rubber Co com——* a56% Garrett Corp (The)— -1 9% OV2 ' 55 30 - - 55. 3f a55y8 &56% ..- 1,900 -.5551,100 135 . .. 9Vz Nov 49 Oct 25- Sep-54 Va Dec 2oy2 Jun 79% Feb - 38% Jun 76 Apr , OTHER STOCK EXCHANGES JANUARY 10 RANGE FOB. WEEK ENDING f Week's of Prices Stock Exchange Listed York- Central North American Oil 17% 177/s t ,-alO May 35 Yb 14% Oct 9% Dec Sep Jan 16% Jan 36% May y 24% 1 19% Feb 1,090 5% Oct 12% 340 6% 28% 28% 1 99% May ; : 29% Oct 36% Aug 50 6V2 A' 85 51 Nov 115 a23% a237/a 30% ;':i — — Paramount Pictures Inc 005 - V. a32 a327/0 4 * i, Car Car 18% alO al0'/4 .„10 Company,,,,, Motor Packard SCHWABACHER & CO., SAN FRANCISCO • J |' ALLEN & CO., NEW YORK ; Ohio V' Direct Private Wire« to .' '' • RR_. Co ■' Jan 57% 360 - , High 47 '• 240 42% a59% a62% a59% • Aviation: Inc.,— American North • In*.—— Montgomery Ward & Co. Unlisted Issues r~ '42% 44,—. & Robbins Inc McKesson FACILITIES Range for Year 194(1, Z'X Low 1 New Member Los Angeles Shares Low1: High . ' BROKERAGE AND v for Week ' Sale Price COMPLETE INVESTMENT FAIRMAN & CO. Sale* Range Friday -V" Last STOCKS , .. 29% July Feb " West 7tfr Street 2IO Pennsylvania Railroad Co .50:4 H;:^4-;:25%V 25% Phelps Dodge Corp LOS ANGELES 14*—TRinity 4121 — -26 I Oil Pure Friday STOCK S - Par , Foods Hunt Ino —* Company 28 —10c V; 75c ——10c-> *—1 > 6% Kaiser-Frazer Corp — \ 1 Co,—lOe Wells Co Lane Petroleum '.ockheed Aircraft Corp 1 Angeles Investment • * — 90c 3% 60c 1.15 30c 1.20 Petroleum Company 1 Oil Mng & Dev Co,—;——1 Occidental Petroleum Coirp , 1 ' -1 yceamc.Oil CO,— common,,,,——* a41% ' a41% a42% 6% 1st' preferredwi_,u—*4-,'——25-, 40 x40% 5%% '1st preferred——25 ' 35% 35% Pacific Indemnity Co————-r—--10• . 52c52 Pacific Lighting Corp common,——• a62% - a61% a62% Pacific Gas & Elec „ ) ,1. / IdYa preferred——,50 lj] Rienubllo Petroleum Co common, 5%% Richfield Oil Corp * —1 6% . Feb • :: i ' * .*M P i-/ -r 1 I •* ^ ^ ??■§£(■$'. !%&■*■& 6% 5% 6%-pfd—,25^- Southern California Gas 1 -6% —25^ • a43% • > 56.% • ——; 8 preferred -class A— 4 Company,—— Pacific Southern Oil Co of Calif Standard Oil Corp,;,..... Sunray Inc,-—i,4,^„44,—_i.,4-—50c Textron 37% *' .: Transcon ;• ■, ^ United-Rexall Drug Inc : ■ ■; , States Steel; Corp——: United 25 8% ' Universal Cons Oil Co——..——10. 4Western-Air Lines • Inc———,1: . . Corporation Woolworth V- 361 ' Jan —1 (F W) Company —10 Mar % - Oct 15 13 ■ - - Sep. ' 1.80 July 20% Jan 26 % July Oct American; Tel b July I' 90 4 Sepv 4 68 Apr i Feb 29c j 89% July!; 32% Feb- ■ 38% 69% Oct' 42% Feb -7%-Oct Jun 69% Aug 14 - -4 25% July 4 4 11% Dec 21% May 13 Yb Oct 19% Dec . ? May.v v"T-[ 5f'..v x-'r'-t. t-: Oct ; 27% ■■ ^ -'Z'X')+.'5 ', . 20% Nov ( 28% May; • 11% Dec 96% Feb' 9% Oct 65% Oct 19 Oct 27% Apr 8%. Dec • ,33%. Jan - , 20c 4 Jan 2.80 Apr 8c Jan Jan' 24c Budd Refining Co Corporation aviation --—; -■ 97 a36% 6% — ,_ 6Y2 Baldwin Locomotive Works vtc. 13 ' 20% Barnsdall Oil _5 5 44— Bendix Company Aviation ; Corp Boeing Airplane Company Borden Company Borg-Warner T (■"•••-'??' 5 15 370 al97/s a207/« r * ' a48y4 a49y8 —-4^ 46% 46% :iu'SyA- X: V >•''< ' Co Service Gas Si Solvents Commercial 10 t Electric Corp,— • Corp,, . **'•'. . ' v*-. •' " * " ' - * ' l, I' Commonwealth Sc Southern Corp, Cons Vultee Aircraft Corp ; • l Continental Motors Corp, 1 Continental Crown Oil Co Zellerbach (Del),—4— 8 1- Curtiss-Wright Corp General Electric Co General Foods Great ^ ^ Northern Ry Co Iron International * 4 • International Tel & Tel Corp • 7 Loew's Inc • ;•; ^ •" - . 16% * al2 Jan 30% 159% NoY ; 1,487 245 r; 21%' • 25% Dec •* 12% 13 91%; * 572 48 y8 - •>.; ; 11K* 5% • " 6 2,734- 47% Feb 370 ;.y 7% Deo y 51% 9% Dec 100 12 NOV 49% 51% Philadelphia Co Philadelphia Electric Co common 81 preference common preferred Insulated 50% 8%;: serie"s A Co preferred 112% 73% Aug 52 62% Jan 54% May 22% Feb ';l2V,0ct. 130 50 .37% 40 59% Dec Sep 23% Sep 8% Oct 196 1,000 20 200 155 16 V2* • ^'.'v; .A'j : 101% ; Oct 12y4 60 • 61% Sep ; 1% 69% Aug Oct % 150 A 4% 4'A .Feb Deo 32% 769 * - 3%- 32% . ; Oct ■ | ! 782 * V ' 3% Feb 5% May 3 % Oct 44% .45. ;• 51%, : 3% Sep 1,900 . ' July 78% Jun t Oct 49 10 24V4 Jun * 200 • Sep 33% Feb Oct 1% 23% 13% ——20 18% Oct ; 100 27 V; Sep , 7%"Jan 56 Ve July • 30% Apr47% Mar Pittsburgh Stock Exchange 78% May L»8t 4'4;- ' ■ Jan LoiO 4 Arkansas Nat Gas .Co pfd —100 Co Columbia- Gas h'slectric— 10%; 10% ; — 4>:-,w4- v::-: 18% * -. 195 15% 35% Nov ■ ' Dec 10 Yb Apr 35% Sep v 50 27 32% Jan 35% > 40 . Sep .. Mountain Fuel Sunfrly 12% 33% Apr 51% Feb ■: Dec' Nov 53% May 3% 5y8 a46 a46 al2al2y4 35% 35%^ 1,700 5y8 Dec 15% 50 43 Ya Oct 60 J/2 May 100 10% Oct 20% 295 29% 42 National Radiator, Co 4 ; Oct Jan J&n May SSS, 1,418 10% Jan 13% 13% 100 16 " — -> oii&nG£re'e-rre±::—^ !1' 6l% *1* Rentier Standard Steel Springs 31% 41% Sep 60 Apr 15% Apr Vanadium 40% Westinghouse Deo 26% Deo Apr ; - 1% 1 41 v , 01"common'™?1 til™™-—-*% 14% Nov 10 — 7% 1 8an^Tov Mining""77,1 - • Co 90 Feb 10; - - 41% Pittsburgh Plate Glass, Pitts 8crew & Bolt Corp; ,5-45 .4.75 20% ^ 16% Joo, » nay M May 17% Aug , . . u/s Aug Feb 26 Nov 14 Feb 43 493 £ f14 , S' "&££' '58 -f 16% , 8% Oct 708 22%. 22% , .. 4 Apr Oct 5% 30 v; ::v.v4'4 -- HarM,on_Wa.kerRe'ractories....-,; Jan 18% Oct 750 225 Oct 8% May 23% V 25 19 11%, 12 11%- - : -.•^-•.'-4bo*-:"y • 4'r High'• 25 ~ 10 Oct 11 Jan 80 7 16% NOV ; 31 .Feb - -4 31% May Mar-.: 2% Jan - (Or Week X'A-". Shares >: ^ Range for Year 1946 Range ef Priees SalePriee Jun 13% S»le»_ XX'XZ-X Week's:: V"I XaX' 513/a May ;4 41 - 30% Sep . 200 loy2 a24% a25% 5% 40% ■182 50% ; 950 al6% al6% Dec 17% Sep 10 ; 65 3% - Aug i.'i 3% 16% ; 36% 89 % 3% ; $3 33% Mar 52 " 46% Jan fg 25 25 common preferred United" Gas Improvement: Westmoreland Coal Dec 1% — United Corp 20% 40 V 49 65 Apr 23 70 80 71% 121% May Dec 118 '2 Transit Invest Corp common— Preferred 114% Nov 17% 94% 47% 33% July 20 20% 7% 73%- 4, '.r, ; 36% May Dec 26% 20 94% 7% Dec , 20% ^ *7% ; 24% Sep 1,218 24% 94% —— Tacony-Palmyra Bridge— Class A participating; Tonopah Mining • 3 17% 23% 23% common Feb Jan 33 110 . 27%". ;• 17% 11% Oct . 3,289 27%: ; 15 . 117- 117 -100 50 Salt Dome Oil Corp—— i„,l, Scott Paper- ———>*•—* 3% Reading 11% , 26% —3 Philco Corp common. Apr 87% Nov 310 a24%^ 26% • • ~—100 * Wire 9% Jan Jan : 27% Sep 37% Nov 24% 11% Jan 2% Sep Sep 20 y» 4,727 ■ Jan; 17 ; 6% Oct - 1,327 26'/a 49% —,1 17% Oct 1% Sep 232 ■ 25% 8% Jan May " 6% 50-. 25'A Pep Boys 70 , 10% Nov 424 21 Yb ■" 22 %J -21Vs' Manufacturing—10 80% - 34% Nov ' 7V*:7Ya 1% 1%; -7%i : 55% Jun 40% Oct Oct --47% 3,578 59 * <■• * 10% ' 10%\ " ■+.: a 4 396 50%. -55 Y* a 38% -39%. 126% Apr 19% Oct 1,283; 24% - 54 54% ; 26% Jaij 10% NOV 547 fjtyf-t.**..,■■ r. ;:4 5% • Pennsylvania Salt 10% 26% Jun 140% Jan y 7% Sep Oct Dec 6 10- 5% 9% 76% i mvh r 42% May 200% Jun 38% Feb 17% Nov 9% Oct 4 495 89% - s ' a49% "' a49% a50%10 Yb 10 Yb 10 Yb a24% -'•629 : - - Apr Nov . ; a33 l". ' Vt 4 22% 29% 34 • 27%'. 20% •24% •; r ; 24 Power Sb Power & Light Pennsylvania RR 14% Feb 125 * ; •• Range for Year 1946 -.-.-.•tOIS.v,. 38% Jan Oct 20 ~ Oct Share*;''-:. ; 173% : 171 ; H; : ""i Penna May 50 907 "4 •' y Pennroad Corp Jun 80 '4 Jan 60% May " Sales * High r 27% Feb a44% a457/a * * '] i : * — iiV : Lehigh Valley RR, ——50 National Pr & Lt ex-distribution • 18% May 119% 0y® Nov 19 Feb Jan 26 ya Nov for Week 5% ,1 common,. Lenigh Coal & Navigation Aug i 51 ; Oct 215 a39% a39% v a32% a32% 6 6%-'? al9% al9% 36%, • Kennecott Copper Corp.—, Libby, McNeill & Libby 15% 10 y2 Z ♦ of Canada , 3% —4 X preferred Corp Nickel Co • 4 — *; : . — 4 ' - ^ •— m Corp Graham-Paige Motors Corp Interlake ; 5 Electric Bond & Share Co ^23% " ,*• 1 Class A a23% V;V» w 4" 3% " 5 Corp___ • "» a23ya Commonwealth Edison Company,—,,25; y ' :vV = 45 a26y« a26y4 li y2 12 ;r a26 % ; • l2% ,89% Light —13% Electric Storage Battery^—-• Genera! Motors^ .: 10 Gimbel Brothers common 5 53% Sep ,31% Nov 250 9% 61% 202 Week's of Prices . 198 >1Q Ya Sep ,, v 20% I • Delaware Vij . 85 400 ; Pacific'Railway ,Co..y,'ya,■ 26]->; &12%Al3 Case (J I) Col,— 4-^" 25 :'>:4r—v 836'% a36Vs Caterpillar Tractor Co * > a59 Va a59 Yb f Cities ; 45 Canadian Columbia .3. 220 97 a37 6% val9% 5 Corp ' r.' f. v ; - Brewing Co-, Cooper 68% Apr ".35% Oct .297 20% 20 % a23y2 a23Yz"Z a36% a37ya 92 92 ?•?: ' •' Bethlehem Steel Corp , a39a40% : 51% Oct 17 14%. 14% 4 100 25 * Atch T & 8 P Ry Co.——,— Atlantic 1,203 160% Nov - 51% 39 Yb 2iy4 Nov 1,162 y 450; ;,y 4 Range 173% 13 r Co Curtis Pub Co Feb 23 47% Sep ... j■"■ }:'■ ■ ■' i-- a39 9 13% Nov .380 4 44 —' 15% . 16 ? a58% * a56y2 a597/a fc r *173 ; 171 -173 * i: 4, 4 a58% a58 % Z ' 60 Friday .109 Works vtc Feb 18c i:4; ;4 Co...: (III) Oct ' ;,_25c j"i & Co Oct 18% - v T 22% Aug 17 247/a 26. 10y4 10% a47% a5oy8 Jan ; 76% May 570 '- Jan 36% Nov -55 -''27%"; TeL Baldwin Locomotive :v 4 31% Jan 29 y2 Oct "Jan 5 ■•'•x-41%' Feb' y •*42' 37 Sep ; 4. 42 y4 Jun - 51 y4 54% 17% 16% a50 — Chrysler Corp 4 !'.V4' 30% Sep 30% Mar- Stores American 7 .v,;' Dec Sale Price Unlisted Stocks— '■ Apr : 28 Aug 119% Apr 160% Apr ,16% Nov y; Last Bun; Oil 4 >*——; Armour 160y4 ; 20% al8% a20% #.. 8TO OKI - 68 25c Anaconda Copper Mining 10 232 a53%a53% .4 k? 24 Sep 615 24% - 92 19% a237/a a247/a — - 48% Sep 417% Nov 190 a94% &96% al8% .12% - - al27%al27% 5 Inc Motors 54 325 20 r/i* 34% May ?■ Co .,,10 Cardinal Gold Mining Co,—,4, 1 Cons Chollar G & S Mng Co__—< 1 Smelting & Refining Co _• American Tel & Tel Co ————100 American Viscose Corp—— 14 Jun — Feb- 49% . . Jun sc -19C _ - NOV- - 53% : ; ■v Black Mammoth Cons Mng Amer Aug 60% 53 50 20 4 18% 4% May 10 44: Mining RAd ic 8tan San Corp—1—.* July 67 May 4.4% Amer 41 Mar a24% -• Co A Tel Union Western ' Ltd Sep a59% a59% a52% a52% ; —10 Philadelphia Imperial Development Co Zenda Gold Mining Co, 33% a36 5 Westinghouse Elec & Mfg Co, 20 y4 May -Nov ,f 21% 22% 10% 11 72% -72% 25 2ft 9% 10 21% 10% 4_25 ,4,-——* ^ of California— nfcion* oil : -i 76% May 38 . July 55 a36 Aug 55 - Oct 22 Nov , ll% May4 : - 6 18% 22 , July 65 13% Oct % Dec; ■ 49% May 590 20% Low 13% 15% 20% 20% : 68 Oct Nov -/ 52% May Sep — 10 Warner Bros Pictures Inc— Jun <yr,J7'; -,V W?S 50 Jan Feb 64% ; 40% July : 57% NOV 7% Jun July 45% July V vv Nov- 52 57 47% — .,100 Lines Inc., Air United Aircraft Jan 4 45Va ; 371/4 -Oct- ; al2%-al3% -S ■ - - Corporation—a .13Ys_ & Western Air Inc 5 —" ,4 Pacific Railroad Co U S Rubber Company 2.70 F?b Oct Nov 38 — ——• Union 1.50 Jan Oct 39% - a43V8 56 . 8 .ranBamerica Tide Water Assoc Oil wiiivs-overland 37%-37% I -a46,* 51 Yb $. -8Y* - - —: Jan Dec 75c 1,10 Dec 38Vi-:28V2 s , Dec 387/a } 80 4 70 — * 10 Union Carbide Sb Carbon Corp.. . 33% 343A ^ 31%- 3IV2 30% 30% f • - 8% Jan 97%c July 1.00 Jan ^ ' ^1 m Co Ltd com,—25 ' 33%' preferred class B —25 i 4;' w_. class "C" 25:.^ Southern Calif Edison Feb 37c 30c 15% Jan July 85 ' ——25 Jun ; 1.75 Apr Dec 2% Dec 18% 159 ,—,1 \';4 20%' Texas Company Texas Gulf Sulphur Co Umtea 87%c 40 Oct a69 Va a697/a a69% Company,———————25 SWift 4 Ss Oct 13% , , ' Oct 233 .'Co30"";v4i 4 . •erra.Trading Corp4^——25o 12c 11c ,13c Signal1 Oil Gas Class A,4,—444,—^4 * 85 : r 85 ; 85 : o*gnal Petroleum. Co Call!—4——.,.1 ■ ; -90c • 1.05 "Midair.Oip.'COm,-^..;..,,, *4;;16% ; 16Va .. Solar Aircraft .Co——„i—1 1 ,* ' 13% 13% \ ; 11 V 18% 25% 105 Jun ; 2.30 4 42% -a23 * 37 % -• ::39 • $ 55% 55%< —•• a* 37% ' .Roebuck. & Co—i 42c y Dec 7 a22% Security '7 1.55 Feb Dec 20c 6%; ' • (Ind) 28% May Nov a41% a415/a &36% : ,4 28 Standard Oil Co (N J)— 10%" § ■ 6% - ■ a22% Inc————1—„—5. Safeway Stores 4 |4 a49% a49% al4% al5 .« %- * % ■ , 9c • common,—,——al4%' 4-/ -. Ryan Aeronautical Co,': .f * May I V? 207/a Jan ■' ' 50 5,045 1.35 3% v— Mt Diablo «a*rs Oct 62 %c 95c 3% 60c 1.15 30c ■ — Merchants Warrants/ 25% ;• 2,000 15% 1.30 1.50 ,;ial8al9% a225 a225 1.20 Oil Company„1_-_^^-w—~.,1 Menasco Manufacturing Co— .1 ' Standard Oil Co —15% Mascot ■ f;>; 2,800 75c 20c 0% *7% - Mar,; i" 4 Btudebaker Corp 67%c * 20c 1.30 '• al8 — Co,,,,—.—100 Lincoln Los 195 33 Feb - 722 a47% a47% a36% 37% ,4 25 Inc___1,• Oct -jl'V':**• V-;-"'-;-''1 'i! b4r;v i, standard Brands "14% 210 14% ; 20% 9 130 9% - 46% May 52% Sep 311 - Feb 47 Sep^ Oct . 130 a28% a28% a28% -r 15 f-Z: Southern Railway Co,—*,--*> > Jun' ( 1.95 Jun > 1.00. DeC 9% * 19 Republic Steel Corp Bocony-Vacuum Oil Co v: 100 Sep 80 / 2.800 : 1.35 , 17% 17% ' 28 28 f Intercoast Petroleum Corp,, Jade Oil Company,; -.784; 8? . 1.25 v — .,,6% common, 82 1 Co,——1 t >'1.30 Motor Car Hudson * Oil Co A common, Hancock Holly Development , : High Low High Low ■ ,< . 194G Range for Year Shares 4. Company Corp of America. Radio for Week Range of Prices Last Sale Price ' v-V ■'■■■3 Sales Week's • ; 33% 52 170 , Nov 25 ,500 a40% :;.;a40% a41% a54% a543/a a553/a -•4 ; a,v a23% a237/a —* Incorporated Pullman 15c 13% . 41 % 41% 7% 7% ;226 " 1% 1% 15c 15c 13% 13% -Zn 400 60 4,600 50. ; 7Yb uct 1% May 15C Sep 33 Oct > _ 120 ., 94 217 14Ya reo 2% Feb ' 60c Jan 24/a Feb ^^ ^ " Steel—35% 35% —---* -32% 33 /a Electric Corp com—12% 25 25 26 , Alloys Westinghouse Air Brake 48% Jan 32% Sep. „ 32 Dec gj ^ 21Y4 Nov ; 46 Jan J J J 39 % Jan • Volume' 165 Number 4559 THE COMMERCIAL & FINANCIAL CHRONICLE OTHER STOCK EXCHANGES RANGE FOR WEEK ENDING JANUARY 10 VrW1" kv. .. " . Friday v : - ' .. Magnavox '•••'• i Par, Co "y r, J s t : -y. * y&i&Wi 1871 ' New York Louis Stock Stock ■..kk>- v■; Exchange j4k.:;-k4.vy. .kvrk:}ikk" Exchange Phone CEntral 7600 ■.>.'yyVA'y v"V Chicago Stock Exch. Chicago Board of Trade New York Curb Exchange Associate Q? Bell • 4k Last 683 common... Low American Inv common.-.—j£. Bank Bldg Equip common. Brown Shoe common American Oil Burkart Mfg commons • ; 7 ' ' ' Elder • - Mfg ?•' \ Brewing General • Shoe \4» "• .-V - 7%" ' ^ *;'■ r', Preferred International Shoe r: Knapp Shoe Monarch common—_ < 17% 15 NOV 24 uv* 23 Va Gas 68 ' 25 2 Va' Laclede Steel.-common..... Cement Pub ,6erv"A" 39 Oil . • y 32 5% yy: 27 Oct Sep Oct ; 100." 10% 1 10% 70% y 27% 5 28% y 25 y:.:: 20 y/v 717/e 10 170 Jan -" 1 ••• 100 31 • yi8.y.. 18 42% 40 . 46'/a 16 . . 1,389 Nov jij't .-{.J, Jun •'! ■' 7 36% common. .25 y~328 1,179 55% / 19 Va 19% i / .25 • 3t%- 53% .10 L. American 33% 34% Dec -' 48 33 Va '• 50 '48Va Jun f • p.I -76 ; " - ; -* ; » , \ . Friday lXt, *' •' »• - t ' \. ' Corp Aireon ' » 5 * Packing Preferred Caterpillar Tractor Co common^ 800 4% Dec 17Va 5% 35 5% Oct 12Va Feb 36 1,584 IIV2 6,454 11 10% 240, •240.,,» 10 . 200 ^200 VU5^4 i ' 95 Va ! 95% • . It 95 Va 28% 1} 28J^ 55 55 59 59 59 " 78c 11 78c a88% ' 1,220 ,. ,v. 57 . .. 80c 1,600 a88%*a92% ' 70c 335 29 30 325 28 10 27 common.s—-—'-* —; — 20 hi4 y< 19% •>') ' ' 7 t / 32% 107% 108 . ^126 A 71 „ 100 J vl.' v 1 W.J Di Giorgio Fruit Corp A common——5 common..—— Doernbecher Mfg Oil Works Preferred 30 Va 32 616 8Va 8"% * 24V2 46% 48% 8, , j)2% 15 15 Metals General Motors u Greyhound Hale Bros Hawaiian Holly Corp Stores Pine ;♦ Inc., Co Honolulu Hudson Motor Car Foods- Inc Co. * & Libby Aircraft footnotes " ;'V23% ' 19'/4 17Va ■ ? 258 .. 37 page 246. . ' : 1.35 43% 19% ' , - . V 40 ' Viscose 28% 66 - '• Nov Aviation 98% Apr 11% Jun 28Va July 19% 1.25 1,450 6% 77/s 7,676 34 34% 35 35 '" 10 V* 18 19 625 y 270 35% 10 Vs 18 • . " Oct 57 May V Sep -. ' ; 58 May - 19 Dec I6V4 Nov 31V4 Jan 26 fe!;-' Nov 50 1.00 Dec 7% Jan 'jiv 11% Jan 29% 36% Jan 48% Mar Feb 42% Jun Sep 45 Apr Sep •.•42% Jan '**■ 45;.;, 7 . 1.10 Oct 69% Jun Nov 37% Jan 150 15 Nov 39 Va Apr y i"''' Ov •• y ,' Air_____5 > y •_••...... 20 .13% a21% . 20Ve y '|4 ;i ly 22 y Oil.y.4-— 102 y:,35 22 120 23 Va 23Va : 289 a7l V4 a72% 325 Va . a7lV4 100 yy 330 1 ,— T _L> 34 Va 325 a83% a83%y II.' 11% II ; ' Nov ; ; Feb 24% Aug Feb 47% 96 , y Feb . y,yi9 r oct 27% Apr 9. Sep •13% Jan Nov 376 Jan • : 320 30 Sep.,. 7:19% 10 44% May ',40 May ■y a._ 230 y _ ■ 108 y Jan 805 50 T 28% May Dec # 65% Oct ;j y V. 23% TV Apr 21% May 63 Va Jan 20 Va 117 341/8;y-«r -300; 22 24 - 20 950 330 33 Va •-*. ___50: y 23% 100 Va83% 1 y"- 11 Va 11 < L ryocty 21 . 257, r200 25 'i Oct Dec ;■ 101: ... . 25 y. 59% Aug Nov 20% i; 5 V4 July Feb .7 13 v. " *~3,535' 7; 227/e Oct , 355y 7 17% 22 V> 10 42 .* .102 22 23 : . y,y 102 v 1.05 2,014 . 13% 15 .y.;; 2,954 a20% a21% y y 75 22 y . 'V- 20 , 71 . -. y y , ..12% jlo nov / a— ... 7 17Va Jun Mar : r a5% May . y.; 10 13 . 59% 57Vs al72% 3 V ; 6% 1,584 160% Sep Nov 50% Oct 140 36 925 10 Va 85% Oct 115% Jun 6Va Nov 14% Feb Jan ... , ; . 15 a93% 220 ,, 352 y 770% 200 Va ... 69 V2 Jan 5J Va Feb Sep 18 V2 May Nov 37 12% Oct 30 Sep 29% July 30 Nov 55% y90 Nov 4% Sep 111% RaifWdy—-.a--—--25 ^: & '■• ylll3^i 111% al27/a al3 Jari 125 y ' a26l/4 a26% yy -11%y.. H7/a 24% yC' 3% ' 24% 11 % y 3% 40 ,. y •: 12 309 Va a52% a54Va a26V» , a 13 : a52% ..10 Southern...: Edison Co of N ■ Y_ * 27% Consolidated Natural Gas Co capital. 15 Continental Motors Corp common 1 a52% 50 54 26% .' ?.;.y 22% 64 40% Sep y 12% Aug 31% May Graham-Paige Motors Nor Ry non 6% %——5 23% al6% a55% * common common cumulative common Kennecott Copper Corp Inc common Marine M J & M & M 4V4 5 6c 36%. y * ,4 —5 Jan Nash-Kelvinator Corp Dec National Distillers Prod N Y Central RR capital 32 36% 2.85 Feb 10 % Oct 23% Jan 5% Oct 12% Feb Nov 28 Jan 26% Jun y: a49Va y 24 ^ 8 18C 2^ > y :_;y; •< y 785. y 74% Dec 16 Oct 58% May 415 y 3% , ; •is Dec ;y 600 yy 2.70 Dec 5% 280 ; 29% Oct 42% 16 43, Oct 260 yy 42 V: 160 25 % Dec 41 __ 700 8 130 20c 2,600 ._ Sep • 2.40 • , 59% Apr 36% Oct 51 Apr 37% 7 Vs Sep 12 17c Nov 381 58 Va Nov 400 62% 31 C 23 Va 18 25 60 Va 51% Nov 5 Va 47 ' 2.40 Dec 51% 45% :.i, r ; 2.40 Oct 34 • y;y;;25 /,y /4 .>■; 20c 13 Va 800 212 a52 60 V4 * .'158 36/4 a24% a25 8 . -1 Jun . ,47>y .I.——,'kk Co........ 7% 2.89. al5% .5 al5 ,4 al6 a247/a y Copper——5c 34% 6 2.85 ' —* Cons Ward City 47% 21% 37 A y a46%. a46 % 7 5 Bancoij)oration Montgomery Feb Feb 410 al7%yyy 37 .. ; —a51Va __'_*. Matson Navigation Co. McBryde Sugar Co___! Mountain Aug 35% 47% 1,192 y 25% a55% a55 k .1 4 V4 pfd——a46% "Holly Oil Co——I—————I Idaho, Maryland Mines Corp—1 International Nickel Co-Canada——-.* Inter Tel & Tel Co 5 : * 42 125 10%, 5% 25Va al6% ;.'V Co...——*_—..—37 ;y. Goodyear Tire & Rubber 3 25 V .kiy'p\h -i—.—* Electric Bond & Share Co. '..General Electric 10% 'fkikl Jun Oct Nov 450 yy Feb July 9 :•••; 2,140 3% Jari Oct 19 V4 180 27% y a52% a53 5%, .v. Jun r 113 Sep • 24% 7 310 - 24 k 273/4 10% Curtiss-Wright Corp , Jan Jan 107% May 10% Jan Dec 16% , , ' Consolidated Jun - . Pwr^'j^' pfdy27i,100..k 111% Columbia Gas & Electric common—.* Solvents —-* Commonwealth Apr Sep 18% a91% a93% ,:kk. 140 5 5 Vs y._... 5,203 18% 19 Va V 155 ■ Jun Feb 22 V4 165; ... y y y .100 ;yt *75 a36% a377/s —ly tt ' -S 2V/2 19Vs 25 163 21 Vs." 15 a23Va a23% ;V a36%. common. 4;: .. 6 %•«•;., ;20% a23% 5 common....^.- 47 V4 22 22% i x 6% 15 .-5 Mv-k Nov a95Va a98Ve ^OV4 : —100 Sullivan •, a55% a55% a39% a40'/4 y 14 14% : y, Jan Sep ; 4,440 . yy al71 al72% y;: - 113 Oct 10% 13 59% 100 Vy 10 y -'Vy,■■: —^———14 ; -a55% ' Mining— 50 a39% 5% 400 155 y'"15 Corp.—— Pacific 13 ■ • Inc capital & .a5.%' a5% 13 15 • 2.15 Sep ^9c 103 J May 5% Feb Nov 25% Jan Nov 32% Aug Dec 6 5 44 Feb 10 Oct 15 Va Apr Northern 19 Va Dec 45 Jan Oahu Pacific Sugar Railway Co Ltd Cap . ;,16% 16% *■[' _______—* 255 Sep 38 Jun 34 V» May 19 Va —* \ 845 31% 38 : 28 1,482 ..y,** •Vj'/VV «y•••'/, '} 38 28'/a ' 35% Dec . 366 . Dec 38% 10 common 17% - Dec 307/8 44 Vi 494 „ . Loew's i.io Decyy>: 1.90 Jan 10% Dec Va Jun 261 ..2 North American Aviation North American Co common 67 . ' Jun Jun Jan 1.10 lOVs Jan 30'% 40 ;: ' 35 6% 1 79% Sep Dec .220 30 Jan 22% 1,331 Nov 15c 85 .1,599 May ^:.yl,56& 7 24 . May 18 30 •, Sep Feb 22 .20% May , . a22 common -■; Steel Hill : 19% Jan , Nov Sep 31 7.19 38 Va 30 ;• ; 495 .1 ;/ *..10 capital—100 20 419/2 18% 10 18 k ; 40 32 V4 ;; 32 k 19Va 19,4 18 »oi? 455 13% 2,261 20 Va 451 /4 150 15 9% ;Sep Dec 35% Jan 32 /4 21% : 16% 25 Oct 37 Apr *415 19 /a 21% •■■;:' 16% ?i-,/ 16% Sep 35% Jan 110 15 Va Sep 26 .1 226 , Jan 45V2 Baldwin Locomotive common.^.——*,13 May 54 1,720 • 44V2 ' 'Commercial - 50 |y 30 y Sep y; - 487 60,000 , 20c 38 V2 11% May 37% Jun , Dec 1,050 . 22% 43V4 38 Ve ; : 14 Apr 109% May 32% May ,19% Nov y 45 19 ; 16c 38 Va Oct Jun Aor 27 Nov 7% Apr 72% 39 y l Sep 33 % , 815. 45 % yl8% 22% 20c y Corp Copper .1 Cities Service Co Dec Jan 1,200 y y common y;h'■ California Oregon '".Nov 9% Dec 29 30 : Western Blair & Co ' Hov 40 Jan Dec 25% 17Va .y j'y \ ... Bethlehem Apr 34% 27%'.. 34 *•'r." Jan 16V8 'V; l,240 24 "15 15V2 Jan 340 1.25 30 * > Dec 29: 14% " 17% 10 1,405 57% Jan 25 • 227/a •.'> 15 Nov 800 .. al.00 Bendix 411 . 28V2 41 1,962 1 V ; 149%yApr 48% Nov 1,555 ' 30 <i 35V2 1.30 # T1 27%;,;. 21% ; ..10 :: Corp.... see V • Feb 40 Apr 109% J)eb , , 15 .21% Sep 89 288 ... 21% "tjt'' Jun 90 Va Jan Jun 17 Va 100 • . May* , 28% May 160 Sep 55% 33 1,720 36%l..... 45%yy44% 58 80 590 27:,,- 36 ' 17 Jan Dec 243 92" T Jan 26 Va 123% • Jun May 5,000 ^ 33 . 15V2 Baltimore & Ohio RR common Barnsdall Oil Co capital 35% Oct 26% • 1,620 ■ pesos V Leslie Salt Co—... For 20 .6.66% — 28Va. 1.35 Co—— common "37 28V2 24 Mining Co—— ——2 Corp common.. Langendorf United Bak A Lockheed k —1 Kaiser-Frazer Liooy McNeil 35 ——* IXL Class B 30 34% 55Vs 20% 30 , Corp capital—1—-l—_—*. 42% Plantation 54Va 37 —* Ltd-—>. Development Honolulu Oil Hunt common 54% 125 , 32 56Va 26 Sep 7% Dec 73% Jan 10 15 36% Armour & Co (111) common.*.—>—y—5 ; ; 14% Atchison Topeka & Santa Fe 100 : a95Va Aviation Corp of Del —; Gt 21V2 Gladding McBean & Co : —' Golden State Co Ltd common.—.—* ' 28 •: 11 109" 44 .... 42Va Mar Sep .Sep 6 74 al.OO 23% , Sep 44% Nov 273 2% 74 f' 18% fy 22% Chesapeake & Ohio RR_—.25 400 2% a57Ve a57Va 15V2 28% 19 1.355 > g >* a23% y a23% a23% 10 % 10 10% : IIV2 1; 355 140 92 - 450 28 127 - ■* yal.OO May 32 14% Jan 140 13% 28 124 Va 92 . 102% July 60 y 66 % a207/a Canadian 9 13% 28 - 37% Juiy Mar 44V4 Jan "14% 1,695 8% 92%' 28 Corp capital-—-—2% Corp common——10 General Paint Corp common————* General 882 Aug Jun ..2 Dominguez Oil Co——: 7^ ..28 " 48% 92% 8 , 25 — •" 24%,' 8 - 32 40% Dec Jan Jun 11 a21% Apr 465 . . ^4% Farnsworth Tele & Radio common—1. Food Machinery Corp common.—,—10 Foster & Kleiser common.——.2% ■ 30%' 32 8% ■> .* Emporium Chpwell Co common— "1 30% —5 Co——w—* 1 Dec 26% _*i Lines Corp, ';;~v i< Anaconda 136V^ Jan Dec „ Aug 18 Va 19 Va ' ..1 33% , Jun 45% ,■*.!: *' _J' 31 J, 47 % Sep y:' 26Va 5 Dec . Oct 38% yy 2% * - Dec 107 37 1,740 125 pesos 15V4 .25 V2 103 t?> ' 30V2 3,023 40% / ■ 20% 148 "14 - ' y v Apr May 2.15 28V2 Dec v\ ^nl2,007 108 6129 « 4 ' 325 140; 71,700 32% al26 K ' ' 42Va 40 ,,y^3% y; ■>•• 15 Pacific RR preferred—* American Oct Bunker °1 £3% 58 . May . 41% 57 L10 American Tel & Tel Co...—>4.. - Jun < 80 16% Oct ; . Sep 31% 1 Refining ' 12Va May ?• 1 47%; Apr Jan 11 335 ; 30% 32% 22% 32% - ' 30% 23 : . 2nd;preferred—..——i.—* 1 100 19% 3232y4 ' ••' 15% 15% ;15% ; of Amer Inc common...—1 Zellerbach Corp common .5 Preferred i—-——* » V4 al4% i9% 30% Crown • al4 Oct Oct 6% - 35 „ Nov HO v . Sep 25 27% , 240 79% Oct 29 "Creameries El Dorado Mar 27%;Dec 54 : Aug 54% Nov '459 . 10% 10% 362 - 168 American Power & .Light..—y.—.—* ^ American Radiator & Std San— I^ American Smelting & May V ,4Vi Octi,.. .7% 27% ' 26. - 29%.. 100 100 7 525 Unlisted.Securities—-i :American & Foreign Power,common._* A5% May - Dec 50.-,* 82% Sep.-..100 ,^9. VJSep 25 I \ " • , 55 .• Columbia Broadcasting Syst ct B—2% ; Commonwealth Edison .—^—^—.25 Cons Vultee Air Corp common ——1. B Oct 9% - 11% 11% 7 270 _^_1 Yellow Cab Co common Jan 100 31 11% 62 1 — & U Jun 36 Galifornia-Ui---—--2^ Bank Jan 17 32% —25 ; Co 80c Sep 3fi 1y^vu.." ' i' Consolidated Dec 9 11% C.al—»b7V4 •"••,. 28c 32% ___5 Feb High" 3% •"* , .Chrysler Corporation common —^—5 Clorox ChemicaL Co..3V3 Preferred i - - 5% - Co -7 Universal • Central Eureka Mining Co common—1 Coast Counties G & E 1st pfd.— Colorado Fuel & Iron J ---* Lota y"'T 880 61% "...l —— •? J Victor-Equipment Rarige for Year 1946 "2% 50 — — - - Shares 5% 35% Corp common——• —— forWeek 2% Calavefaa Cement Co common^V—1—• ■ '• '. Western High 1,630 ^3 7.50^'$'y>;;33 ■'?.« Sugar common.iL.-. Western Dept Stores oommon " 240 Preferred ——J——100 1 California Cotton Mills capital—^—.—5 v ''.**■ > i,- Pacific Wells Fargo West Indies * V California RangeLota Engine——2.50 Bank,of California N, A————100 . '.' • United Air U S Steel |||" -Sales of Prices. Par: . —— 50o : Alaska Juneau Gold Mining Co—10 Anglo Calif' National Bank ——20 ^ Atlas vlmp Diesel . Week's yyy-La»t = Sale Price ... Exchange 30c ,12Va 36 common ... kktykk yy •: 27c ' 62 100 Vy, Class A preferred..—.— ■;, Union Sugar common** y;. San Francisco Stock 'STOCKS ,::'y. (■ May - 40% _ Oil common.. Corp J 46 30c Sep —y 74 * a57Va Inc common.^ Union Gil Co of > 73% July y:;;24%Jun Sep f/y 33 3A July ' .7 27 * Nov 24 y 785 ...100 — I Transamerica Corp Transcontinental & ; Oct •y 16% 19 • 30 32% ^ y Tide Water Ass'd Oil -- '" Jan 29% 27% 41% r T common.....^—* Standard Oil Co of 1 /■■$. r.v -y/yijK'f /A 7 f-.p common. 102 103Va ->103% 104%. Sperry Corp common...; Spiegel Inc common ! Spring Valley Co Ltd y19% Oct •>" 49% May < , 34% Nov •••' ■ Southern Jun - Oct 7 Southern; Calif Gas pfd series A——25» :v.-: I,y;y ;y:' y ?y . Jan 80 * .;Soundview Pulp Co common*., Jun 46% Jan 16% Aug Dec :y 65 y. .' '.'..95 :7 18% Union Feb 50 25 common 15 87 11% i__* & W Fine Foods Inc: Shell 30% Jun Dec ? Bros 20% May Sep' 11% - common..'—_♦ Co Oct 9% 25 — ... ySan Mauricio Mining j—i-lO ■Sears, Roebuck & Co capital— Jan 30 v : common common Petroleum Oct 10% 86V4 • 25 common Safeway Stores , 7 Jun 9% . 19 . 175. 32 v )s JaA; ••y-..yi5"'yoct^ f- J 25 - preferred V Roos : 'S'.'t'V-ryV' common—50c Jan/'l 50 Dec 19 82 p , - y.yy::52%"Janr. Dec 12 435 21 tk-'-"- Motors • Houston Dec yyyy yyy/ • 125 23 21 common... yRheem Manufacturing Co_y——1_. Richfield Oil Corp common— ' Jan "••'-•'-y' 8 Oct 14 1,520 -6%.. 23 32 36% Oct 14 .unlisted—; Electtfc- 2% 25 11 «% ; v Apr 28 7 14>/a 14 20 22 : $2 Republic 12 y4 25 170 10% 5 Ray Equip & Realty Ltd pfd Incorp common fj>; --Feb " 1,185 - .. 10% 86V4 —— P & 12% 2.90 - 30 ____5 : Rayonier • - 115 88 y 14% ; 11: com..—25 Scruggs-V-B Inc common Sterling Aluminum common.—; St,ix, Baer &,Fuller com new. Wagner Electric commot General '.,155/,;.. . &■*%%$$$ 38 100 Rice-Stlx Dry. Goods common.—; St Louis General 25 31 ; „5 commonr—. "-Missouri Portland North 33% 12 all% all% , : Dec ' 10% __5 com Phillips Petroleum Co capital— Pig'n Whistle conv prior pfd___; 26% Aug 41% Jun 55 * com.- Laclede Light 13 12 all% " ... yPuget Sound 26% • 160 3%—-3,-155- 12% dividend Paraffine Cos Feb ' .1 Rights Feb —, .y Jan 10 American Fisheries Pacific Tel & Tel Feb UVo (new)—__ Laclede-Christy Clay Prod 6% Nov ' 35 Va 33 Vt • common...— com Jun July 24 10 Va r Johnson-S-S Aug 45 • A. ——:—-——100 ' 10 ', ; Nov —; * com ■ •; 24 23% 1 ... 8% Filters., "B", Pacific Public Service 1st preferred ^ common...—__—_—.1 >'•;.*/-> 15% July ' i.; Dec 26 Va *, common Mar 33 Va Dec 15 1. Dec 7% $5 High 26% Hyde Park Brewing common*,....——4 Hydraulic Pressed Brick com.—.—100 v 97 145 : tf: * • 36 Vs 16%; Jun Dec ; Petroleum United 5% 1st preferred Pacific Lighting Corp • 17 —1 Griesedieck-Western 'Brewing • •\ 10 ; 1 common Falstaff • '*• 11 7% 35 % Brewing; common—.———-5 '. 1 27. i6% Century Electric, Co..—.1 Coca-Cola Bottling common Columbia Low ' 1 ;<< Range for Year 1946 75 29% 100 Cons. 1st preferred 5%% 1st preferred **' V Sep :__1 common. 6% Htah Jun 23 100 Pacific G & E Co Shares 42% • Invest preferred Oliver for Week of Prices Oct , American Occidental Teletype BL Sales Rang* Sale Price 29 3% North Exchange Week'a Aug 800 26 Va common Pacific Can Co common Pacific Coast Aggregates Friday 19% 33 3% .yy., St. Louis Stock Apr 32%'\ 26% Pacific STOCKS 13 10 6% High 335 .1 y Low 15 33 North .; ,. Range for Year 1946 15 5 National Auto Fibres Natomas Companv •'• Shares High 15 Menasco Mfg Co 300 North 4th St., St. Louis 2, Missouri t '/}■':■:V.-!'■Members St. Established : for Week of Prices L010 .; . Calcul Machine Meier & Frank Co Inc.... Co. & ■ 1 Marchant Edward D. Jones Range Sale Price . • Sales Last 8TOCK8 St. Louis Listed and Unlisted Securities Week's m [THE COMMERCIAL' & tVeek's Sales Last Range for Week Shares of Prices Sale Price Week's Sales Last Range for Week Sale Price of Prices Shares Friday Friday STOCKS Monday, January 13,-1947 FINANCIAL CHRONICLE jt- - stocks <. Par Ohio Oil Olaa t;-a23%I common— Sugar Packard Pan Co Co__: Motor American 2.5d Airways—_____ Pennsylvania RR Co_. —L. 3%b __25 12% 30% 315 30% 245 a26 445 Co — 26Va 27% 483 Pullman Inc cap —i—- : Pure Oil Co common... 133 65 55% a23%a23% 214 . • a23% j— Westates West - /,.;.V:,-/i• ■.• ; 30% 30% High Low -4 34' -34' a31% a31% - Sep . 39 % Jun 30% Apr 32% Feb Mar 31% Jan 30 30% —25 Petroleum 5 1 common- f. Preferred Republic Steel Corp commoiLi. Riverside Cement Co A Co 34-" Warner Bros Pictures— Corp of America Radio Keith OrphCum common. v:/7... ; Utah-Idaho Sugar Co common-— lOO Radio ShastsC Water ., a31% Range for Year 1946 V 30 United Aircraft Corp tommon,.wa.i.-5 United Corp of Delaware i l U S Industrial Chemicals— —— 405 40% ,.40.% 1% -. 8 ? -.20 "7% —55 % S •; High Sterling Drug Inc common————..5 Studebaker Corp common.—————.1 Swift & Cb capital: —25 12% 40% i Mill . $25% > .21% —. Pioneer w-ii— Low • preferred__———_25 f 5% % 585 --25 ._25 common——— 6% preferred E Standard OH Co of N J 30% a25% Pepsi Cola Co___ Phelps Dodge Corp—, Sb. CaV Ed Ltd. . 200 6% 6% 12% 1 —50 Paramount Pictures common—. 135 a23% a24% 6% V common.—. *, 5 20 . __ Co High Low " ,, -l Coast Life Insurance— 5 Western Union Telegraph AiL---—i—*■ Westinghouse Electric Corp com—12% _______ Sinclair Oil Corp——'—; —. Socony-Vacuum Oil capital--. Woolworth (F W) Coinmon- -——lO CANADIAN LISTED MARKETS „7„ i' RANGE FOR /WEER ENDING JANUARY .10 - i ' ,,. < Montreal Stock Exchange Funds Canadian :.' 'yym- '■ Friday .- ■ • - .■ blOCKS— Week's:/• Range Last ■ Safes. ... - for Week ^ Range fi Shares of Prices- Sale Price y;00yyy.':yyyhyyy y,-yyoi^-y0ty LOW '/■: , - i* Abitibi PowercomL— " preferred —20 $2.5ff prior preferred—— 20 Acadia^Atlantic Sugar A— ;£* 5% preferred ,wi.— 100 Aleoma. Steel Aluminium ftrimmnft : — 24% Electric 199 27 27 15 15 8% ; 6% : y-:/;;,/ ■ 8% 1.90 2 27% 28 £ Mines-Ltd— 23% -i* ForCst Products—• Columbia * Bruck 611k Mills— Calgary Power Canada cnmrnon !_■♦ ^ • 30% 26ya 23% 19 19 * __ 10% 15 " 48 25 % ld% kq 48 , Canadian Breweries common— ;• 25% Canadian Car & Foundry common ,* 14 Sep 77 48 26-"- •' 50 " July Jun 14% May ;' • 22% 4,53. t 185 483 62 29 98l • Feb Apr 16 - Oct 29% 4,425 14% Jun 31% 270 865 ' 305 15V4 Feb 25% ' 23 ^Sy 85 25 - 19 14% 4,015 --*635/,. 60 45 19 —15 Sep May 45 77 19 Canada-Northern'Power Corp.1 jan 2% .• 23% Jan 19 Canada Steamship common— 5% preferred 21 315 110 u* common— ... 20% sep 2% Sep 1,683 515 ——* Foundries Preferred Oct 31% 16V» Class'B—45 Canada-Iron Get 10 y2 19 % 30% 26V2 83% 30% 26Vi —100" Sep. i76 -275 75 20V4 75 ; ^ preferred ^ 1u.Canada- Forgings class A— Dec sep 29 16% 100 —____. . Cement 3i% __5 $1.30 ' 29 ;• Sep 23 575 3 Sep 6% 1.15 285 3 28% 31% -3 • - Biilldiht Products elass A—— Bulolo; Gold Dredging-—i.. 15 13,160 29% 29 — .;-.-;Class.B.-— 26% July 150 23%' 23% 3% 4 ■ 4 British Columbia Power Corp A-. Sep Jan 130 456 12% 188 12% Brasiti&n Trab Light ft Power— British 16 18% 22% 189 21% 22% 1&8% —_* Sep Jan 103 1,316 A; Paper class A——* Bathurst Power Sep July ■' 19% 250 <* •«ai • TWephon#.:Irilf 35 445 10 920 27% v 15% 1,495 114 1.90 Cnrp Bralorrie f , 21 ' __ * Warrants Akbeatda 30 6,820 50 325 -20 202 199 -pfd—29 Corp common** Argus .Corp ^ — 22% ■ ..—t>v Ltd Alumlhtim Codf Canada 4%& Amalgamated 19% 5 , « - , 49% 2d% 19%' 19% 37% ; 37%•/22% 23 105 103% .23 • 24% 19% $1.50 20 Class A Canadian Celanese 7% Preferred 18% — 59 • common ' 42% 13% ' 100 Canadian Converters class A pfd—100 / Class B common—-——— .* 17 13% 40 '. — 17 * 19% 60 42% 17 . 31 Canadian Foreign Investment—35ya 35% 35% 15Vt» 14% 35 Vz 18% 945 1,331 125 14y4 common-—: Prefei-red ; __25 ^ 31% 14V4 I4yj • 14'/4 14 Canadian Locomotive * 35 35 Canadian .* — Canadian Ind 'Alcohol common .Class B Oils, common.: Canadian Pacific Railway—L—i 18 13% - 13% 29 44y2 May / 2Q 60 ,485 7 13. 13V* 88 ,42 42 42Va t. 30% 30% 11% 11% 26% May 25% May / 18% Dec 24% Feb 19 Apr 102% 280 315 Class "B — class —__ Distillers Seagrams old common 17% —* Preferred - 100 Jun Dominion Dairies common.*——— Preferred Preferred 100 Dominion Tar & Chemical 27% Sep39% NoV 51% July 41% 31% 35% Feb 37 y2 Jan Feb ' 42 35% 14% 15 767 37 12% Mar 23 May 26 100 21% 28 y* May 14 " 26 ' . Nov Jan Jun 32% Feb 26 26 % 26% 675 1,485 — 25y4 25% 1,090 26 May » 93 93 .598 120 May 184 184 94'% 184 preferred—100 — 100 — 20 Electrolux Enamel Heating Prod— A 1 20% — . . ; Power common———.. 11% General Bakeries General Steel-Wares _• 18 * Goodyear Tire pfd inc 1927^_ Gurd (Charles) common Gypsum, Lime & Alabastlne— ;_50 .. . * I3y2 • 11% 18% 25% 18 16 y« 15% 8 Bridge Howard Smith Paper common Preferred i T_— 100 Hudson Bay Mining As Smelting—'——* 1 .. 42%. 12% Imperial Oil Ltd • Imperial Tobacco of Canada common_9 : 14 ■12% 7 14 34 Jan Feb 14% Jan 105% 110 Cutika Funis Jan ;:v- :.Jan Glove Works 'Atlas Steels Ltd— Auto 1,072 60 i; 185 Industrial £1 — Acceptance Corp com * Bronze Preferred common: —... — *" For footnotes see page 246. __ . v — 8 - Belgium Glove & Hosiery com Brand & Milleri Ltd A_i____— British American Oil,Co Ltd—.— British Columbia Packers Ltd ci A. ,-490 1 1 30% 106 26 521 8, 30% 106 26 . ' ^" lO ; 37 38% 110 36% 37% 4,930 Class B._—i--A-«-r British 61 ' 10 • II g% 8% 10% Columbia Pulp & Paper Ltd -•-.•Preferred Brown ' Company Preferred -_i common — Butterfly Hosiefy Co Ltd —— *100 2,850 10 11% 5% " Co .Ltd. class B—• Bathufst Power & Paper class B—. / 4,622 / - 14*.' 38 25 International Nickel of Canada com—♦ ' ^ 100 Preferred International __ '< -_ 5% • : '"""7%" V 11% 3 27 .7 7% 11% 12% 2%' 3 * 26 2.7 Range Lou High , ■ Preferred Fabrics , Lid——. Shares of Prices L6H Acme /Sates f. for Week Range Sale Price STOCKS- ■. .Week's Friday Last 3% Sep 350 8% 13 16 22% July v. 2,520 29% "J >' 53 53 42y2 44% , Apr May 5 150 . 27 Ve 28 • ' .22 7,7.75 1,045 - Jan 22 % Aug 90 20' 16% Aug 24 19% 180 ;v Jun 107 25 595 95 - , % 184% Aug ; 255 17% : 5% __— . 110 110 110 110 '4% 5% 17y2 18 55 55 v 13 13% 110 — 18 25 18 • —lOO 100 18 28 85 25 2,587 495 , ■ 18 11% ' Famous Players canad Corp. • 18ya Foundation Co of Canada.—25 5% preferred——, 5%%; preferred— 18 21 17% ., , 25 103% 104 20% 20% 20% 17% ' • —^ conv class Corporation Hamilton .25 230 ' 26 •• — Eddy Paper Gatineau 155 33 i—.100 Paper W/0 & 32 ^ 26 ^ Dryden Paper Jan Jun 14 y May Dec 9 35% 26 Dominion Textile common—— Bros 13% Mar 26 — Preferred 45 Va 23 Oct 31 Jan 41 14% — Preferred Donohue 119 10'A 33 ■' —.25 common — Donnacona Feb July. ; Dec 106% 90 1,085 265 2 Jun 16 30 Sep Nov ~ 32 ' 100— —_—— 11 16 33% Jan 10'A 32 — Dommibn Steel A Coaf class B Dominion Stores Ltd > VtC ' — 35 & Dominion Glass common « _* Steel——* — Foundries 33% — May 50 29% 15,831 17 19 107% 107% 33'A 34 15% 16 — Dominion Bridge i .• • • Dominion Coal preferred——29 Dominion - May f, 46 . ■ 610 A——* Davis Leather Co Ltd ♦i Jan 53 - 983 11,^'*'r/ Jun 31% Aug 210 7 86 ' * July 49 50; : 86% ■ Jun 14 6 25 Consolidated Mining & Smelting 8 Consumers Glass—. ———♦ Cockshutt Plow Aug 78 3,279 Cottons Jan 22% May 25 13% 40 31% Canadian Jun 20'A • .14- Jan y2 Aug r^ l;128" "465 .2,625 650 for tear 1946 Hid* Volume 165 Number 4559 THE COMMERCIAL ft FINANCIAL CHRONICLE CANADIAN RANGE Frlday Week's Last STOCKS- Sales Range Sale Price • Canada & Dominion Sugar Canada Canada Northern Pwr .7% pfd Canada Packers^Utd class A_ Co ' : ' ' V 03";, -,--100 1 Canada Vinegars Ltd—— Canadian' Dredge & Dock. Co Ltd Canadian Fairbanks-Morse '.39>V -*t ; 7% preferred _ • 15%- 180 37. ;i 20 Marconi —100 16% 16% J. 21%; 23% i 190 > Company ' •>' v * f'A.yv • 65 Canadian Western Lumber Co "Westinghouse Co; Ltd 27/e 2 2% ' 178 . 12% 51 Ltd-—T—«, —1 —* Corp.— May Jan; 20c Pato Apr ' 575 4'% 44 .44; f • Rochette Apr 40 * 40 37 13% 17% . "4"X 4-:r;;*C.xi ^'*?\ Eastern HteeL Products *Ltd...^— Mills Ltd preferred—20 v; .295. 37 13% 18 * : Dec 45 i .15 July L 6%, convertible 24% 6V*l/c Preferred A4 9 jr.?. lr f ,12%'. r 103 6% :.—10 .fc-;--l— Paper Co— 0 14'/2 ■1,165 70 12%; 350 Southern Can Pow 6% pfd—!—• Southmount Invest. Co. Ltd, % Thrift Stores United United Fuel Inv A . Aubelle ' *', 60 115 24c .14 100 * .yj . Mines 19%q Cheskirk' 28 Jun Dome Mines 1 East Elder 3,000 27c Canadian OIL.—— Sullivan Mines .1 1 Goldvue Ueva 43 *' " —Mc£ For footnotes ' 7 • 9c 5,500 1,000 3c 4,000 y 1.00 9.25 • 10 May 1.85 Aug 25c Jan 54c Jan 1.03 4,900 9.25 1.20 19,000 12c Apr May •27% 18,000 90c • Dec 2.40 Aug Oct 38 Vic Apr 1.36 Jan f 90c Sep 8.00 July 530 : 1.03 Feb 26 103 230 1.00 July 13 %c 2,500 9.05 . . 99 "*Aug 129% Jun 26% Sep 17,983 : 1 ^— 10 %C • 7%c 7%c 8c 3,700 ...1 53o 53c 55c 2,700 13 13 •1 Nov 8%' Feb 1.95 Jan VVi 45 1.60 1.90 1,688 X 26c 1 .■ 90c UC Hardware class - 28c 13,900 5,000 15% 19c 19c 30c 32c " 45,300 15c Oct Jan Apr 3% Feb Mar 20o Jan Feb 102 Oct 68c 395 23c 30c —-— 85c 12 • • Dec 9%c Dec 12% Mar Mar 24% - 1.00 Dec 22c Jan 23c Oct 92 - ,30c , Nqv !/i 6% Nov 13,600 92c |1C 88c, July ff 9 4 - Astoria Quebec Mines. Mines 25c 10 Vic 14% - • July 6c 48c ; 850 95, 7o r3 500 8% 93% —-1 A—— -10 Mines——— Mining - 13 8% 93% • ;L80 Gold — 10c X —m. mm— rn Yellowknife r' 55c " 62c Jan Jan 18 Apr 87c Feb 1.70 Apr July a ' ? 25c Mines Steel— Atlas 229,300 f 25c 26%C 11 —— Aumaque Gold Mines— Gold Aunor Auto Mines : — 29c 16c 10,900 11% 2,125 8% . Fabrics class if 28,900 25c 75ci 20,000 50c Apr 55c ; ., Oct 4.80 2,426 12 ,12 5% , 5% Dec Jan 10% Nov , 46c .5% , ;67c 4.30 67c 4.50 — Class. B— - 9% 30c AUbelle Mines Ltd t'yt Mfties 54Q 35c" :. Dec 11 1.55 Feb iff 5 7.25 Feb Oct "650 ; 1.02 Apr 7:v July 3.80 July 10 ; 1 7C Dec 12% Aug .•< 6% Aug 13c 26% .38% : 43 Beatty class A—'—,r—— Class Deo July Deo 26c Aug 4,000 3.50 420 1.60: 3.40 4.65 -77c 34c ■ 75c 52,400 1.09: 1.11* 'IZj'y} 17% -200 • 780':, 3,850 340" . Dec July 2.25 July - 2,000 500 •• B class —1 J" A—.———* ———_* Jan 49c Bidgood Dec 49%c Biltmore Jan v 43c . ; 70c. 32 3,300; 13,600 ... 1*85 5 Kirkland 61c Hats common 60c Sep 1.45 Apr 390 33c Dec 75C 82c r ;.1,500 58c VV1.36 1.45 Jan 13 14% 75 12 Jan. ' 14% Jan ,..21 Vi 22 100 21 Dec 24 % May -^13% 58c 2.05 35c 1.15 American Oil Forest $>.;■ Class B July 45c Nov ; Jan 10 Sep, 10 55 Sep 61 -.14Vic 6,416 13c Nov 30c ——— 39c '•>.3-:> 23% 12 '23c 2% 23% 27 = 25% • 3%o 15% * 7% 29 23c 2% 27 r'.S 30c Sep ■ Jan Dec ' 18% Feb Jun 30% Sep 26c Nov Jan Aug 28% Jan 5c Jun 25 1,310 3% Sep 2%c Sep 150 13% Sep a 120 6'A Oct 29% >•>•585 - Aug 39 %c Jan 15c >5,960 15% Feb 20V* 6,000 4c f Dec July 10V* ,2,010 7 /> mi 1,315 24 H 1,570 , 55c July 7c 10c 2,000 f 16,200 12% 21c • 30C 1,500 9c 8c 14c 16Vic 12% —* — 14% Oct Nov 5 59 9c British Columbia Power class A • British • 16c 1 41c -—1 1.34 * 4.50 Dominion OIL. Broulan Porcupine Mines, Ltd Buffadison Gold Mines Apr 90c Dec Feb Buffalo Canadian 65c Apr Buffalo Red 3Vic 3,115 3%c Dec 9c Jan Building 7 Vic Burns 450 16c May 1.04 Dec 15c 14c Jan 19% 2,900 72c July 4 13% ^;4vf.38c' 1 Jan Sep 81,300 8 Dec 47c '7 17% Jun 7.11% Jun ; Mar Sep 13o Dec 42c • 59 15c * Columbia Dec 90c 23 Vi May v 22 • — Columbia Packers class A— 10% 9c Feb 1.45 Jan 7 13% —" 1—— British Brit 26c 87c - * W Brewis 3.500 1 Dec Jun 15% , II,400 Brazilian Traction Light ft Pwr com—• Red Lake Mines 1 Sep 6,720 I 17% Dec Aug 22c 1 .' 11% 3%c 7Cc May 21c common——-—--———* preferred———————50 26c 27 Vic 10% 7.50 v> 216 Oct 21c .*." — . 170 200 : Bralorne Mines. Ltd Brand & Millen class A Jan Dec July 2.65 11 Bonetal Oct 49e Nov May 46 Nov 10,700 45,100 Gold— Preferred Feb Dec Aug 51 Jan 32c 47c Boycon Pershing Gold Mines Dec 6c Jan 31 : 97c Bonville 13c 11c 8,200. 39 ; 30 1.64 Jan 4% Jan 32c: 20c Jun 7% May Sep July 89c Feb Sep 500 Jun 21 Sep Dec 28c 42 %c ; Nov- 5,100 39 Feb 43c Idooje Mines Ltd......: 50c 16c Apr July 97c Aug Feb 99c 25c 40 1 Mines Dec 45C : Jan Oct Feb 32c : Feb 27 1 — Gold British 15c 86c 43 43 4% —1 River——;—-— Berwick 13c ••• 4 57c 170 12c ' >18 25 71.750 | 18. - Bertram- & .Sons NOV 58c -24c Jan July 7 VicJun 155 y: 77c 18 Dec ,10c 30q 7 100 Class B July July : 22 21 7'Oc 32% 1,100 11c 19c 19 %c ; 22 70c 78C 22c 20,390 15,000 f 510 3,500 8.25 2,500 : 40 7%c 78C 124,300 18c 295 8.25 23C 15C 39 21% 32% ' jBeauueu' YeUow toiie— Sep '446 955- 7Vic *. 12c 1,899 " 38% ——.—-i Hear Exploration ft Radium NOV -117,700 38%' 40 of Toronto—10 14c 26% Berens 5c 5c 13c 25% 15 %c July 15,300 Bellcterre Quebec Mines------"——-—-1 13c 1,400 21c24%c Oct 44c 1.60 "f: ■; 23c 10 Bevcourt Gold 5%C7 28c f/fi; ———X 16 1,310 i. Dec 20c 38c 246. 25 I,328 190,100 page July "42 ; Nov 189 30c 9c 25C;; 31c. 16c. iz see Apr Apr Jan "107 Jan July Sep 187 16c — , Dec 19c Hell Telephone of Canada———100 23c . 28 92c f 10c 275 300 22c. 82c Mina«>——— Jollet-Quebec Mines Ltd 1.13 Warrants Athona Dec 15c jLiaae 1.00 ?• Blue Ribbon 26c f Zollinger Consolidated Gold--— -I Hudson-Rand Gold Mines Ltd——1 J-M Consolidated Gold Mines Ltd——1 $ • 1 — *• — Ashdown . May July 50c. Ltd—. Gold Mines 21 40% 24 *; Sep Sep 103 - 11,200. 9c 19c Ltd—— Mines Sep :. 43 37c 526. Mine*.. Mines • High 22% Jun Sep 19% 1,650 i 39c 3,000 5%C Pound Lake Gold— Ooldbeam 23 15 35% , ; " Mar 6,500 12 23c •• 41 10,500 1,000 9c Forinaque Gold Mines Ltd Goldora 24% 12, -15- 35c 9c 9Q Ltd--———.—1 Fontana- Mines ,(1945) 20c - 19,700 — —— Arntfieid ' .1 Ltd---— 14 -65 1.35 106 106% 41 9c * Eldona Gold Mines Ltd—. El Sol Gold Mines 32% 1.25 106 • 370 39c 33%c33%c ——" Mines-— Range for Year 1946 440 1.34 — Armistice Gold Dec 19c • 1 25 23 Class B—---_--_i.--V--.--r'-**'-'*" 30c 39%C A Ltd——:—-r-~' 37% 22% 16c Base Metals- 37c 3c ... Ltd-; Donalda! Mines 19% 37% 1.84 Arjon 22% Get Oct 53c —— Jun > 3,777:.; 3,045 1.57 Bank 35c 9C Ltd- — 19% Bank of Nova Scotia-——-^—•——.10 8,000 22c .1 Mining 19% 20% 15V2C Bagamac 23<? 9c 1 Mines 1.00 Aug Lou 19% 1.60 May 19%C 9c „' ■ Cournor 25% Jan Shares 1 , May 5%C Cortez Exploration lie Oct for Week 1 July May Jan 80c 30c 1 Centremaque Gold Mines Ltd— Century Mining Corp Ltd Dec Va c 14 LowHigh Corp Ltd common • Preferred ; --,^,.4.—100 Jan 2;300 —I" Mines Sales Range 'j. 19% Argus Dec' *1.33. 37c Cartier-Malartic G M Cadillac Dec 4 400 Atlas 1.30 Brazil Gold & Diamond Min Corp—1 Central Feb Mar 50c of Prices Sale Price 27% ArGfl 25 ——1 —: 32c / Week's 26% Jun 54 1 Bouscadillac Gold Mines Ltd^ ■ 26% Ansley 60 * —— 'OuuUUw F**«l " 100 Bankfield Consolidated Mines— ———1 Ltd Nov 3.50 Jan > Gold 400 1,000 ' m 325 630 Anglo 5 Mines Limited -—--1——-^—! v - *, - '*• rJ " ^ Bonville 15 230 Bath Power "A" Bidgood ' Kfrklahd Gold fV 69c. 5 Vic 15 I 102 ■ Yellowknife Gold Mines^—1 Beaucourt Gold Mines- 69C —. 199 Anglo-Huronian Anglo-Rouyn Mines— -S'Dec * 6 Beatrice Red Lake Gold Mines Ltd—1 > 8c ; . 1.49 Jan July 20 —* Band-Ore Gold Mines Ltd-- ,6,500 102 "■ * 1.52 ' 125 ——" Quebec Mines Ltd 7C ;f: v8C:i;f:: 199% > Mining Stocks . Astoria Aug -L — Bank, of Montreal Akaitcho 36o Amalgamated Lamer Mines mW 1,649 Lid——~u,—^ Aug July American Yellowknife > 200 Securities, Limited-—i.-—--100 Windsor Hotel Ltd 10c 64c 8,400 , ' 2,605 preferred-—-—-50 Westoel Products Corp Ltd Western Grain Co Jan • v': July Jan 112% May 60 May ,;15 ' Apr Sep Amusement Corp Ltd cl A—" United Distillers of Canada Ltd-,-,—" 78c ' ;''8c • —— Jan • 25% Jan —.——* Jan 1.45 7,586 19c , 2.65 —100 Apex Consolidated Resources—.... Aquarius Porcupine .. — 15 Jan 20 * 17c 72c 2.34 ,72c ^ 2.39 Gold Apr U 'Aug> ;; 108% Sep ; ; 46 United ;. •w'14% 11 100 Ltd— Union, Gas of Canada Nov 150 - re^ pfd—10O Band Storejf—— —• • Sangamo Co Ltd new_,—_-.u———" • , 16% "285 Co. Ltd—w,v—V—W Pulp & Paper 77# r Sep 3.65 Dec • , 1 16% Sep .Feb v.-25\. Flour Mills uiueoeo 60c Jan 50c 22% Consolidated— Pacific 80% Sep 9 25 50 Dec 1.07 4,950 2,500 20c -■■■ Ltd common Aluminum of Can pref Aug 25c 11% Jan 50 Service Stores—u —• Power Corp of Can 6% cum 1st pfd,20 r 6% non-cum part 2nd 24c 1,100 v * ♦ mtmmmmmrnm— Preferred 18% May. 27% Mar . Nov 175 12% Pauls Purity $6 250 ; 11% Sep , 35- 104 . 14% Dec *108 10% 22 ; 9 - Aluminium J an 47% May 17 % Feb Sep 16 85 12% 10 Jan Jan ;55c .Last common Mines Algoma Steel common Algei Dec 15 Jan "20c ♦ pfd—- . ' 13% Aug' July 25 18% 70 " 5" 101% July 6% Oct 20c 12% • Orange Crush Ltd— 65 20C Jan 17% 125 6%. 14'/a 90 25% 200 18% .■ Feb 13 200 29 ' 2.23 23c 38c 12,100 ".30c; : Dec Nov July 60 8% Jan ll1/* Hep...: 810 Alberta 53% May v;::".;V 14% 28% Dec - 14 Jan 34 102% 102%/ ——' Ltd——i Enterprises. Ltd.—T.'. 50 900 „ — , , • 41%* 14 '20' : 52% 192 13'%* .Jun 9% Dec 4;; 25c 2.20 8c 10c 32 .... —- 14 s Apr 25 Sugar Preferred Agnew Surpass— 12 10 12% 41% 20 Royal Rice Mills 9 42c Nov 3,500 13,500 " ; . 108 90 13c 1.000 8c 11c. 50c 18c ^ • 20 Acadia-Atlantlo 360 51% Dec 5%e I $2.50 preferred-,™ Aug' 35 30 "90; 10 Minnesota & Ontario Island Power————f—— * Moore Corporation Ltd-—'-—■_—* Mount Royal Hotel *Co Ltd_^^„, • Moun : Jan 21% F«P ' AkfllltOhO 51% • pfd 26 643A 20 i'fu''' Montreal Nucle " 24% 87o 12% July ' 1 Abltlbl Power ft Paper new com $1.50 preferred ' Oil 4% pfd 100 Melchers Distilleries Limited com——" v\" 50 1 20 - 12 %c July SC *' Company Limited V' ' MacLaren Power ft Paper Co— • Maple Leaf Milling Co Ltd com— •: Maritime Teleg & Tel Co Ltd com—_ 10 • :' 64 ' Inc——.—1 Lown?y < Walter M) • .CO; Ltd*i—— Ltd • Feb Aug 300 flic < — 1 1944 Ltd 7.80 May 1,500 55c , 32c Sep 14c 30o . 1 1": Jun 4.60 14c «.« -—50c Ltd— 13c 14c Friday May; 99« 20 preferred——,—50 Massey-Harris Co McColl-Frontenac 1 46c 21% Ltd—___———. . ■ Investment Foundation Ltd com_i—'• ' 20 * Lake Bt John Power As Paper—— Lambert' (Alfred) 14c Aug 20% 14c .22% July. 5% Jaij M, —• t#i '■■ ; 1 8.85 Jan 8o Toronto Stook Exchange ■; Inc 500 STOCKS * — de .LaSalle 5.20 1.76 May Jun n Ltd-——4——• A preferred Hotel 5.20 Mines—;—1 Jun. Oct —• class A 1.70 July Dec 19 y2 24 • Products Mfg Co Great Lakes Paper Co 1,900 1 Homestead Oil ft Gas Ltd— Ford Motor Co of Canada cmaa A-—* 99 2.22 May 2.08 64%.May; 37 Deo Ltd—.A—5 Aircraft———'i-" "99 2.05 9,200 3,000 14% Feb Freiman/IA* J) Ltd 4%%'pfd---Y100 Vr/if >_> -v >; <t -'>'•>•• ,1.00 Sep 1.09 Jan Gaspe Oil & Gas Co Ltd-———.rl ' Jun Dec : Fairchild- Aircraft ». 7.50 Jan 1,500 on Stocks Apr. July 7% Esmond Foreign Power 8ec Corp Ltd—— Praser Companies^ 9,350 4,600 2.50 July 1.10 1.80 . 14c Royallte Oil V 4.80 4.25 Sep — Sullivan Cons Mines Ltd 1 Westville Mines;■-.-1 Jan 15% Jan 17c Mines Ltd Mines 43o 1.00 July _ 1.10 * — Nov >13 2,138 Btadacona Jap July 1,400 1.78 1.10 20% -—i 12c 4,000 ■ 13c Ltd—^ Mines Feb 17c Soma-Duvernay Gold ' Jan 19% stfan :, Mines Mines Mines Sherritt-Gordon Siscoe Gold Jan 90c Dec 37 15 426 , Gold Gold Santiago Nov 8 31 Crest 1.41 1.80 . -* Gold Aug 14c Mining— Feb 23 r Feb 84c 17c -— Quebec Yellowknife 75 Feb .41 Mines Quemont • 6% Aug 60 Gold 2.90 26% 1 Dredging Ltd— Feb 3.80 Oct 15% 50 ; Pitt Gold Jun Sep Sep —1 : Jun "16% ;14% .Deo 90 4% % 4 , Cons -15c 4.40 High 42c 13% 300 1 Jan 16 V4 Mar Nov Mines Jun 23% - Dec 50 ,880 6,858 * woollens & Worsteds Donnacona Paper Co Ltd Jan V':. 1,800 Linoleum Co. Ltd—" General 4.65 1 Pandora Cadallic Gold Mines Ltd 18% Mar 15 "17' ♦ Dominion & 1 Paramaque 62 11% Jan 16 " fc-Frere, Limitee class B— Dominion Engineering Works. Ltd & Dec 100 ; Mfg Ltd Dredging Cons 14c 19 %c 450 1.17 15c ;y; Low 9,500 15% 1.17 ———. Apr 174 -2^ Hep 35 * David Fleet Mines ——1 14% — Range for Year 1946 High 2.90 ;i>f Shares 30c 33 Vic 14% Ltd——:—1 Jan 5% 4% 18-% 43% Jan 45 ,<ii . Ltd com.♦it Lithograph— Corp Ltd— Domin Oilcloth ft Dominion Snuare Mines 70 Red 22,350 : ,105 ——'* consolidated Paoer I Crain Gold 30c 1 15 Feb 98 75 —__100/ Consolidated Ltd Normetal Mining Corp Ltd O'Brien Gold Mines Ltd July Aug 195 i- _* ■; -Jan -lO-^Sep 120 .50. Ltd—I Alcohols Lake Macdonald Feb 25 1-75 Jan ■r ; .100 . .. Claude Neon General Advert Commercial Mines Llngside Gold Mines— Louvicourt Goldfields Nechl 18 19 ~ 109., ...;;; common—1 Catelli Food Products Ltd common—_i" >5 %' preferred'- !/<f. preferred May 30 •••"• May 42 Aug Dec - Shore Lingman 0 19% 'Apr1 • 62 Mar 9.-: >9,. v Dec 1,530 2% Sep Cassidy's Limited Wines Dec 50 9 2% > - Canadian Chateau-Gai - 14% Sep Sep ... — i • 34 • 635 . • 9 ft Pap Inv Ltd com—". preferred' —-—i * Canadian Vickers Ltd common...——• i i 7 % ■ preferred 100 -4 44 13% Hep 22 - 2,485' ' 2.', 190 65 i Canadian Pow : ■ ; .-Nov Lake ' 100 ... 63 Aug 113% May Jan Low 1 — for Week of Prices Par Lake Rowan Mines Sales Range Sale Price •: Feb Week's .-*1"■ -<>•; Last: . • — Canadian Ingersoll Rand Co Ltd—«,—• Canadian Light •& Power Co., ,-100 Canadian 38 29% Jun 109- 1 STOCKS— High . Dec 55--' r ■. 'i. 25 # 25%; 37 Loto y 20 r i.-V.v,. 45 ^'ut.cao- 24% ;24%;', '■'.> 2,515 •: ,15 *', Ltd—* : ? ... 63 ^Friday ' Range for Year 1946 "i 112% 112% ' 39% 39% ^ V'f ' V-0 Canadian Gen Investments Ltd_ *. Canadian Industries common——— . 21%« — MARKETS JANUARY 10 i -Shares High 20% 20%: - Malting Co Ltd LISTED WEEK ENDING for Week of Prices Low ' FOR Dec 1.15 Feb July 2.24 Feb Buffalo ' Class Ankerite Gold Muies— Lake Mines Product# & Co B class 16c f 1.40 4.45 4.75 • 22C 20c 23c > 30c 30c 34c " 30% * * • • 15 ■ 55c Jan July 72c Jan 95c 15% 15c .. 25 92 July 45c Jan 15c Jun 97c Feb 85 Jun 32 Dec 17 Dec 23% Mar 40 , 1.64 Apr 11 Jan July 3.85 July 2,500 'V 7,000 v 23,495 29 15 May Oct 40c 32, 29 35 Jan 13c 8,800 9,600 44c 1.30 28 13,300 16c 41c - 1 * A V 29 • 22% Jan HV2 Sep • . i , THE COMMERCIAL & I" ^ ^ it* • **'•'* 1"'** *f " " , k •' 71; 't; • . ■' 1947 Monday, January 13, FINANCIAL CHRONICLE V • :' ■' ' ■ CANADIAN LISTED MARKETS RANGE FOR WEEK 'T'" '■ .--I1/. - ">')>/; STOCKS— Sale Price .-aA."'" of Prices Linen common—_ ''XLow 30c 12% A v'LV't ,... — , 1• Campbell Red Lake. -l.v, 2.45 Canada Bread new preferred—X—lOO "/x ;-"i Canada > cement common •/" 2314' " Calmont Canada Canada class Foundry Malting y A_.—, . . i Canada Packers class A 10% * .—i_;—: 17%'. ',</ W'••' "»'«»*ucuv. Mortgage———*uu -195 • 17 ■. '-195 ' Canada'Steamship common-',—.««.„»•' ,% " p ^ Preferred Canada „Z A. 85 i'/KPi/P. Cauacua*. Canadian canners : .25% 26 • common preierred Canadian Car 85 Fdry enmmnn x Class 'A' ' , 60- Cetenese common—5 Canadian l—_——a Preferred —100. —— \ 22'% Dredge __' / 25 i<00a Froauct&cowwuu—* 15 Class - A ——.—«£—i-—.„_*"/' • 20 Canadian /■ Ca unman Alcohol industrial • A com r Class B 14 —* Locomotive—-—. Canadian 35% Canadian MalartiCi.—, Oils Canadian New 1■ 100 com—- preferred ^Hnaoibn, ? i— ; - Utilities preferred-^ 100 *' Wirebound,Box—s—1'_* Canadian Canadian Gold Patricia Central Central Mines—-.. Cheskirk ; 1 i .yl /,x^ :• Gai .:',x Chimo: Gold Chromium Circle Mines— 1 60c . Bar_^_ Coastal ■ Gils l" <xoid X : 110 •y £05 ::xy,,r; , ' 13 « 570 4,450 •'' . \ 1 > '4 'i • 24 115 10c Conduits' * Consolidated 1 — Mining Consumers Gas ^nnwest ;' ,r'7% x>^Z 1—5-'-- ^ Smelting da 36% a 173 : • « 97c I x' ___C—XL/wC-L'1 . Crestauraum Cminor Crown Pershing Mines Mines % 'X.,- j j —. Davies Petroleum x_i__ ; Class Mines Oemson Nickel : 1.02 1.05 8,300 1.20 1.25; • I3%c ,v v- 1.60 Preferred _ Mining Mines Dome Ltd : • 74c 100 , 1.12 Bank______; 10 x. Dominion Coal 25 *' preferred g9 Dominion Oct class Steel 1- B Dominion 108 "12,500 115 ■ 30 C Elder Sep 39 x"-15 109 Dec 3 Nov 40 x: :.y 140 Jan 20 ax;.v 530 27 Nov > 23 12% Mar ry' V 481 195x 23 Nov 370 13 Jun May x**% Jun 28% July Dec • July 1.85 Jan 2 40 8ep 20c 19%c 24c II,100 18c Dec ; 58c May 53c 50c 53c 26,200 30c July 62c Feb 13c Jan . 14 .>•;' 6c 'x^ 5%c i ;;: 2.02 ^ 2.02 1 a 3.55 3.40 11% - * 20 _> ; - xc 10% 14% 20% 21 1.12 74c .:. 1.06 72'/2C 29c 24% uX 24% 1 Mines - i Mines. 30c > ' 7 V" • r;'Class'.B— 7 i ' 12% 12% —______23 - 2.20 7,135 4.60 x f "10,000- 6%c 219,175 12 14% 21 - -, - 15% Aug ' 22% Aug 1.38 Sep Sep July Dec 29c 5% 75 4 .80 Jan 14% Jun " 23 60 23 , Nov 37c 18,000 ; 7% 20 83c 33,500 13% 3.35 Jan 8% Nov 164,050 :A. x "13% OctT 355- 24% Oct" 2.30 July . 106 1.13 88c 35c 5c 10 1.45 > 71c Jan moil#-' Players new rommon_ Fanny Farmer Candy Shops Grain Federal class Mf« Fleury roxa —: & A______, Aircraft. Bissell # ' Townsite-; T Me A ■' -■ -i( » , For Gold preferred——_^__ footnotes see page 246. "1,595 12 ' Mines Luz 685 43% Sep 65 5% Jan. 11 90 7,530 90 7c Jan Dec _• ^ • ' _100 ' 21% 30c • ' 12 4% 2% 21% 1% Apr 3,282 18 % 30c 32c 13,500 25c Dec Dec 100 10 99 ' Dec 100 ' 50 5,910 200 11% Oct 3% Dec May - 134 24c Sep Aug Jan 13 % Aug 5% Nov 3 Nov 32% Jan 75c Feb 101 July - Nov 3bc July A 35c Jan Ale " Jun A /4c - * .Aug 34%' Sep 50 15 Dec 16" Jun 9% / 80% Aug X " 17% 13" Dec A, 157/a Feb " 19c Dec a" 80c Jan 12% NOV 62c Jan > A" 7.790 "35% May 106 Sep 101 29 V/ Oct xx- . : •j.j.-fit / ;?41P> Jan 4 A v4 39,600 95<f 266 x"; A 2,160 V 38,700 " : •■ :^15,610 75c 33c 15% 35%- - a: - Madsen - 3,800 2,320 Magnet Lake Gold Mines,— ■ Rouyn Gold Martitn-McNeely Mines—— Massav-Harris common, preferred Jan 11 4.55 July A 62c May 1.46 Jan Oct <x"26% Mar '/ /. 1,000 13 4.25 Dec 2Ro 500 . :">X.r. 30, 9,700 7,900 / 57c ;' 71c :Z Dec 23 % v Dec'.,: Hep/,") 15c • Dec".. 19 ix Sep 2%c Jan 20c July 12c .,;,6i5 3.90 8.75 Mar 5.55 July 16,400 Feb " 8.00 Dec 129,800 July A 37 x; 29% Jan/ 7'/2c 3,000 18 43c Jan \ 39% Jan 16,500 i ■■■ Apr r" 8%c May 25 % Mar 25y2 Mar ,1.20 July 18a July A, 1.5u Jan Jan 37c ; Feb .1.50 Oct 3.45 Jan -,l ,765 27% Jan 36 Aug 245 • 1.46 8,065 V 26% 34.900 68c July " 19c- 4.45 8«C July 2,500 X- 30c Dec 2.70 4,416 26,960 17,800 13,050 - . 50 21,680 8,400 A Oct ■x 35c - SepMr 2 45 July Dec 1.50 July 2.25 10,500 3c 3%0 12,700 3c July Apr Sep x Apr Feb 45c Jan 7.50 Jan " Oct*" 1.50 July 14% !• 5.00 *••■ 2.50 July. 15c May 34 Jan 9,700 - f 1.02 July 35,000 xx - Feb July 35c " 3.75 19 F«b July " 5 48 Jan Jan 95c 3.75 Jan May 10c 17% May * Marlon McBrine / 55c A; 24% Mar > 2,02 ■3t l Feb Dec 2.90 z 1VP '.14 14% 660 13: .1 Gold— «>^»><«rrert .* 17% 44c - ; " 87c 87c 93c 5,200 60c July 19c 19c 20 %c 58,200 18c Dec A - Maple Leaf Milling common.: Marcus 43C 1 -1 ; July 25 24c 3.50 3.65 Z-l •> Dec July x" 1,700 2.15 .18 11% July Dec " - 1.76 Apr.". 45c " — Eastern 22C 1.90 / - i 18 * 59c " 23c 5,100 4.80 23c Consolidated Gold ft 4.30 30Jan " 5,500 3.60 1.95 —1 4—- Malartic Gold Fields— Manitoba 3.40 /•"• 25,900 •X " **»• 37c ' Jan Dec A' -Dec 1.16 Sep /■••/•lie x; Dec 25 - V Jan 2.25 " 73,438 Z/x . 4/15 - 4.60 (H R) Red A Nov 37c 26c 21c ■ 35c 12,300 /. 25% . 25% / 6.10 43cf .,A; 'Feb- "9c'Jap' • Dec Qc 23 106,116 ..-7,800 X. ;; ■ _ MacMillan - 190 x " July - -pec."1' './> ,' X. • 3o Jan A May lie f; 65c 45a/july/v 57,220 •x. ;■/" 6c ty *. - 41c - July-1 ,-a 36c ; Feb :/x"'A '0^.*,y 3y2cDec ; Apr 2.30 v/;/: 1.36 Sep 2,466 Feb Jan 2.09 Dec A. 48c . Mar A . 47'"/, 27% •A 13% Nov II,000 / ' 400 A Oct 45c' v ,Oc|}A / 26 - Aug 40 30c A Jan - Jan 1.65 Oct A 34 A Jan "15% July ax v/; 9% Jan" 200 3c Oct ; -"Jan 26 Aug 20% Jan f:V. •vf Jan 110 Jan 17 May SOC Sep " 95 3,200 8c Sep Feb 73c . z:a5a/7o July. /•/'' 9% Oct "A/ 4,955 4c 4c 44 %c A50C Jan 53% 52% July /30e - 400 3.45 iv<icT^nrt-concsr.utt Gold Mines 125 Apr Feb 4.40 Jan A19% Nov " , Macfie Red Lake 9%c ■• i;ooo .•6.35 Dec 20 4% s ,, 1 x Lamaque ■ 13 -22% July Sep 2.35 15 4.15 4.50 6.25 6.50 Lapa Cadilac ■< ■;,/.: . • 9c 9%c uapnska Mines / :— ip.:37c 37c 41c Larder "U" 1 >/( 13c 14cl6%c Laura Secord Candyx^.1—— 3- ?r/-20%,vV:' 20 21. r^bei Oro ^3%c -.3%c Legare preferred___A_'_—_— —25 A'7/ • — ' 25 25 Leitch Gold Mines, Ltd 1 1.32 1.32 1.40 Lexmdln Gold JL 3lc 29c 30c / Lingman Lake Gold Mines—1.15 x 1.13 1.22 Little Long Lac Gold Mines Ltd—, • r\: 2.05 2.00 2.20 Loblaw Groceterias class A —• . ' 33% 33 33% ;>a; Class B * • X'l/;i/,x'A,f: 30y2 31% Louvlcourt Goldfields —1—1 / 2.75 2.75 3.00 Lundward Gold Mines-;.— __1 32%c ;/ 32V2C3 36c Lynx Yellowknife Gold 26c 26c 28c La x Jan Mar 27 88,300 k. 6%c Dec -'9c f" 15c /. P 5,000 I2c > Dec 14c 16%c 5.75 5.75 1 >/ >37%x:yX 37c Lake .w/JiL___l '>•. 72c > 70c Lake Rowan_________——...x —_1 30c 30c Lake 'Shore. —~1 14% 14% Lake of the Woods common—— _* aAa>35%. Dec 12 4 - ; ; ''>"•• i'i •' ; MacDonald Mines 8%c ,9c common__^__,l__^ Co of Canada class A_ Freiman / J - -wAur « Jan Sep vX'Z 6c 19% Nov 1,355 / / 41c x 38c A 42c — t'AA1.48 1.45 M.60 —__1 • A 18c. 17c 18c Oct Feb 14%c " 4,728 1 Gold Mines Dufault Mines Ltd__ Macassa 6.35 NOV - Laguerre Jan 3.85 Nov Dec 25c ,10 165 ;.;X Jan Dec A 103 16c* Jan 3.60 92c 995 ' i'-p.. *".XX^ Mining ft Exploration Labrador / Jan 1" 69c Sep Oct ./•.: ,8o 8c x3c.< " 3c. 82c A." 81c" ■ r .. X ■/■:■• ; ■ 36 2% —1 Kirkland Fittings ' . common Preferred Federal 4.30 4.40 9 ' •';'18%';;-VJ.18%. '18% :_j' 53 52% 53% l^, - ^9 9% 100 /'* 123 122 125 • Falconbridge Nickel ■ - Jan 15c 69,100 37% 36% 30c 51c * * Apr A 2.70 Jan July 1.18 .10* ; 38 42c 30 • j 19C 8,900 14% aa:14%/'"14% r.- 51c. 50c 55c . 3,375 8C Oct . Lake ■ 13 Dec 45c Dec Jan 31c July 96c - 1.15 July 1,690 , ■' ~ 16% Mar i. Dec 16C 17,900 — July 20 Sep 12c 4!/acDec ' 50 % Feb 14,500 17c: ■' 14%c"; 17c * ;V:< 25 % 26 1 * 50c.y 48c 55c Mine8__/____.__^—.—.i_lx/xA 40c X: 39c\V 42d Gold Mines J 1374 AV 13% i 14 Labatt"(John). " Feb 103 % ' ■•'-/■ Kirkland July 7 15 Feb 1.24 Jan Dec 9c 103 103% U " 36% :./ Golden Gate Kirkland Feb -7% 60 -.3 Kerr-Addison Jan Jan 35 July — Life— 310 Jan 6.00 Jun 16,200 ..ZuL-l'" :3 fCenville .Ck)ld Jun 60C * " Equitable *y x ""20 * Jan 10C 21V2 9,500 ' B2c / Co Kelvlnator Nov 85c 1 Electric class A EnPlish 27- 19% A 365 U ' - —_1 Kayrand. Jun 8% . 30 Nov 13,900 : Gold Gold Sol NOV Mat1 113,400 Mines__ Mines Eldona F1 j:-5r 26 18c NOV/ ■9% 6,3*» 29% 7bc 38 42c 29% __u_—46c Kelwren Jun 1.58 Steel Paper uiV ,13 Jun July 49c 50 ioc^ !, ■ 1.40 Washing.: Easy ; 9% Mar Apr 18% 12 V2 15,300 __T; JL- 16c.-' l j . 4c * Jun 1.49 Malartic Mines.. Sullivan x" / July 1.50 Crest Eastern 30 ." 23 Jan 59c ' 24c -x.A, , u Consolidated Joliet1 Quebec;; ' 32% Feb A 13% Mar lA' 1.41 Amphl Mines East 17% Dec Jun 70 18 -1 Dec lO/lhlV ' 13 14% -x-V? ;"y//l' Walte Kirkland ' Jan 35% Apr Zr, 6% Sep 6,000 23c v,8oc 25 . . ' - . 1 30 x J M Apr i Co Mines Gold ; 25 44 26 i '10' - 14 " 26 J 24% " 92 y & V s-. Jellicoe 30% July ^ ;— Mining '' ■,'.26 < 14% A Mines Duquesne East ___* 1.48 ; i x ..Jacola Mines -.;4e«srm Mines 126 '.x Jun LIS Aug 7D$4J.un; ■yjt 7,490 16% 10% ; 14' Ac,- x »x Jun 21c . . July 4c 4.10 Jun / 22,, r , Oct * Jack 1.90 Jan N6V 12% i./' 25'% Oct Jan . 5c "2,000 23c , 100 Mining Uranium Jacknife-•■-'/ Nov 80c * Dec Iff i k '1 May 26 14% 1.62 ctfs Woolens Lionaiaa ,"14 26Vz Dominion Tar voting trust East v - " 105 43'A _J > 25 >."r 60c 495 " Stores Pomio'on Duvav .* i__—_„__________50 Preferred Dominion — T Oct 1.00 ■ 37,000 Electhrome~ Fabrics common xx' 19c Mar 57 /.,. Aug a A: x Nov 9c a %p May ; 125 .A May Nov 15 12% Mountain',—-50c416c Island 3G5 Feb x30c Mar /" Jun 84 16 , -A it 273 , 12% —* I. Petroleum. iXTM 8ep' 9C i.j: 4%%, preferred . Trv^rnational 20%c Jan Ll" 29% '/>t 12%JaA 12% International Nickel Co common.—* International ' ">—50 A Sep ;x:A^^:po';Feb.. Sep 40,100 * 10% x 10% ! -w 5'/a 5% ' il4 14 2nd preferred_wi___^____—29 29. Dominion Foundry_-n_-___-___L-—__* 32'% 32 33%, Dominion Magnesium * . __ 9% "9% Dominion Malting pfd __100 —, 104 % 104 % Dominion Scottish Investors com_' _1 ''i;'-:";-" 4 " 4 4 Dairies common.,.. Dominion Dominion Mar — Bronze preferred— 1.27 Nov 1.50 Oct 102,700 i 700 / A ' 12% 3 -6 pppk Min <te Devel International Coal & CokeInternational Metals class A 1.75 Sep Dec x,v 1.25 14% 86c - "20 50 12%// ' 110 110 '/A/X/Ax/X 5 50 20% 20% __ . m " (John) ►"••Diration International '105% 29% Jan . Inglis Feb Oct T 82,684 18% :20% 28% '29% Uf—0.^18% Dominion xx > «12% , ,100 l Jun. July 32 " 5,100 Jun 13c lie .____10O Lake Feb ibc r Dec 3,855 . 1.22 . 8c 500: •-H 11 84c • A I,000 lO'/s 74c - Seagrams commoni-^'—..* Diversified > " 17%' 17 x ^.?{106%. Discovery Yellowknife D^Hlers Nov i4c : Apr 22% A' Oct ^1.20 Oct >; 3.5 '/2 55 V 12% Imperial Oil • imperial Tobacco of Canada ordinary.S Jun 1.95 Xi Dec k - Sep 51::: 51 / 37c. 41c 43 44% > 12 preferred-—— Indian 188% • Oct P-. 78c 2,000 : 1.85 2.10 9c l4,/2c' 57c 64'Ac" 1.50 1.66 * . 58c Lake Dickenson Red ' ; i.x ■■ 1.00 July 38,400 A ll%Vx 11%" : 1.85 > 28C " 23c' ■ Feb • • B Imperial" watiir'v-::,/V- A,/'/'1' Feb P- 103 >; Oct 102 July 10 % 2.85 11c 14c 5c 5%c 49C 54c , 11 %c 8% Mey 2.75 40c- >■ 52 y2 Jan" 1.18 Apr ./.; ;r , Dec 35c > 12 Mar/ 35 '/ V Dec 99 y2 "400 17c 22 11% 2.95 / / 21Va 10% Smelting—a—43 Huron & Erie common.-.—, Apr 2.85 20c 100 , Class t', --'1.27 Nov x _ Hunt's /Ltd A 1.38 Dec 26 - -1,000 X 6 ^ iqc 12C 30%.'> 30% " 31 _i ; Mines.'. Lake Mines: Detta Red ; Mine* Dec " 8c' 8c 22 10% Hugh Malartic 1.05 Jan - 0 .A Jan • , x 1 ——_•__— 17, 30c 103 class A -r• xx B_—"u_y.x ' •19 _ Oct 87c r 4j/2c x 195 15c 8c preferred-,-—50!, 1. , : ;/-.x._.:..A:x/rir,A-xr| > 37c ' Paper Bay Mining ft Feb 5.00 ^ Smith Wudson Jun „ 2.95 1- '• t 11c 1,, 5%c I 49c —. Gold nowey 35c" Jan Ded ; 164 • 7,700 ' 23c Leather De«*t« " 47c Dec 7by8 - 5,550 x * < 30% ,200 53C 1,03 ■ ~ 25- SU.; 1.50 ;Aircraft__^_^i^-^Cx_^f x^^^x^x D Aragon y Dec 1.25 63c 15c " ,, x 6 Gold Mines Hosco Howard ' x Nov 1.75 A '' y 103 l' >■>: 3,780 X-40 x _______100 Gold Patricia A I,000 "A "150 Feb Jan 79c 3.45 July July 33c 9,200 A 10c 8c , ": 'A ''/•• » Homestead Jan -.AUg:. 8c - , ■ - * Womer. Yellowknife 20% i-,300 30 fvv ,\!y ' ,30c 50c 45c 1.44 1 Trust___X__.____ Orrw^ho-e . ■- x^'x. 17 Corrugated Box *j 17 Cosmos:.'.•'] 30% Coax nor 1.90 - • 108,200 72c .-—1,07186 y 131 172 174% 5,300 96c 1.07 72c 100 (Toronto) Exploration x Dec 67c . Dec 6 1_ Home Oil X';X>25' Oct 24c 150 1;80 "1.41C . — -'Consolidated Beattie -39C - - - ~-7/200 1 HoUinger Consolidated Gold Mines - 4,180 50c 35c •::> 28,100 iw • ■' Jan **• Wi .•< • 'v.;- Mining Highridge Jan Vv/j.,1' l J, 4,oniarum' Deo 12 Oct 2.00 18,050 :.':'iix V.' Dec 1.90 . 2.40 July 175 - Jan l 4.70 Aug Dec i 25c 1.30 " 15% 16 _.._,.l>;P Highwood x July 10c A 1,000 —-*.1; ;—1'_ Hinde & Dauche r. Jan 9,000 11V700 __ * Jan V 35c Dec 18% Dec 219 A. 42 Jan x 65-. 30VaC July 45c '■?. P 6,700 bep / ' 2,065/ / 13 16%" 63 42c 64% ' ;-^v •> Y-)*. j Jan "A , Nov 70c 85- ,' \p, -p - A16 Jan x 50c v-*• :> 50c • • 1.41 Mar - Jan 67c 44%c Jan Sep -. 43c - y 60c-' ' 23 - 3.00 21'/2c Nov 41,800 1 Goniagas 7 Feb 25c ' juiy r: 150 Xr" 6,100 13%- 4.40 Apr July :15c 150 69,000 - May pi 1.85 July 1,500 * Dec 30 ." 2.80 July A 13,400 -- 104 Dec 102 59c' 43c 29c 45c 29c / « Nov 10 55 Feb 87c , Jun >24% Feb Oct 12% Dec 107% Feb 105 80 May , 1.35 Feb 18% Jan 13% • Coin. Lake ———1 Colomac Yellowknife Mines-———-1 ,* 46 July 50C 4.30 *--5,257 12% Oct 23% 39c Dec July — May 26 rr Hallnor'— May 27': Nov '12% • s.^ 3.00 adLuUeb—i 1 Nov • 11 %c 13c I4c:'»14d 2.95 3.20- 12c • —i—.. Plow, c*n Cock8nutt; x^_ - wiuano 13 V2 , 31c . 4.05 53c 60c 21 53c * ______________ ' 4.10 1: Ditalam-.^— •• 675 Nov nc 2,200 4c 4c x 125 5.00 5.00 500 Hamilton' Bridge 8 8% Hamilton Cotton ' —' " • 18 : 18, !'■)/''/'■■ 50 7,840 Hard Rock Gold Mines I 55%c 55%c 65c > 200 Harding Carpet' x iii'10% •'••10% f." 3,300 Harker. Gold Mines x._ _1 16c 15c 17c 37,600 Harricana Gold Mines J.7V2c 17c > 19c; 8,589 Hasaga Mines _w_—_! 11.25' 1.16 1.31 2,500; Headway i __1 " * 12c 13 %c .1,500 Heath Gold : _1 31c 30c 31c 39,350 Hedley Mascot i- ' 1.16 * 1,14 ,1.401 108,500/ Heva Gold netf. — _a——1-. 75c 72c " 86c ao% Jun 24 - Jun . 17% Nov X Gold Halcrow, SWayze --:--_-A_i-» Ftalliwell ,' 30% May Dec 21 16c 21c 84,450 He 27 10c 26 10c .£,a>: " ; - 8,530 21 x Feb Jan 6,700 48,550 " 11V2 24%".;: 24% 21 __ , Gypsum Lime at Alaoastxne 'i:*> Jun -/ -1 • • f — common—i Preferred v Aug 44 ".•lav Jan 620 65c • 24 % c * Feb 178 ' -39% -Sep > ■x . 60c 60c Jan Bousquet____. Lakes Paper oreat 22% ; 54% Nov 5,400/ Graham ;■'/ xv-, class A Co , Feb 88c Nov Nov 11,200 113. 11% 25c 22c Sep 5C 54c 55%^ /xx:.. __ ;>1,/- class A_ — & Gunnar 625 ,. Jun Jun x 20% Sep Nov 655 , t —— 12% 18% 6,578 Mines——SS % c v-xiesiturvdle Larder Lake Gold Mines 32 Graiton x-'.-.;,' 50 . 10c 2,000 16c v 40c 4%c 110 > s 110 54% common MJELay Class B Jun 32 Jan -; -75'' ■:::x , Jan 22% 2.20 • /tHKeMfun 25 ' 26 2.05 2.05 32% 335 Gordon 29% Aug Tire Preferred Deo 24% r- Sep 230 Goodyear •" Jan: 22% ■ Goodfish " Jun 30 Nov '; •19 yX 20- " Mkr 1,200 , 19 * ' ' 14c : 14c 38c 37c _____—4%c Mines Goldvue 53 Jun 99July Dec 41c 3.05 1 ! -k Goldora Feb 23 r. 'V ' Sep 365 ' !— " 23c P 26c i22c 22c \^nes_ii^--4^--------*-' ^ 8% 9 Porcupine Pffntremaniift Chateau 85 ''y:'V:-r-'■ x./:>'•: ■i,"'"-^ 2.90 ,1 2.85 2.95 1 —1 Gold Quartz Cariboo Nov 13% 47. '82 1 " Mines-- Manitou Golden Mar 205 ' 175 26 26 26 x r,• : - >x , : teo / 39,200 74c/ 49c 3.25 68c 45c 3.10 -> l : Feb Jun d.7S Dec 5.05 July 45,800 Apr 20 % 108% ,,. - 68c 1 Golden Arrow Mines Apr 21 % Jan 178 Eagle Mines Goldhawk 1A 44 % July Jan Dec'. 700 . ♦ 1 1 1 7% . 21% Aug "15% Sep ,105 .Julyx„:H' 111 " . 10% Mar a' '9,664 Feb 14% Nov 167/s 390 105% 105% 13% 14%,^ 101% -105 14 am Ry__', *M.nfic 18 ■••• Gold >36 1,320 3,100 15% ' >>. * '20 ;• 15V* """14 14 i * 35 35% ' 80c 85c • .18 18% • Aug 150 15 '. 19 15 Canadian 64 434 60% 43* 59 42% Mar i Goldcrest : Jun' •:/ : ' Jan 3% Dec ;•A ".r 7od X a-> A' ' 20 x x- '20. p :Vx,' High 5.55 Feb j Jan 105 / X X 65 15V2c 18c 5c S'/ac. ; 57c 61%c " 19c 22c 23c 23c 27c 15 %c 14c 18c' l ; MlneB Ltd Lake (jrou s 6.20 : 18c r 5c > 59c > > ___* Gold oct ' 2626* Lake-Porcupine Goxa Glenora Jah 9% ■ff: 15' y Guxxes Jun 31% Oct - 23 Mines——_1 Gold Yellowknife Jun 18 '__'_A^-_'l^i_____^U-_--._l00/:x.>,';A''"L_ Preferred > ♦ common— Giant 53 46* 29 28 % 29% 25'% ' 25'% 26 id. x 14 '14% " /h ..19'" 18% ' 19 '? :_20 • , *v •' preferred Conv ? 22%. ,25%' 25 v 30 550 23%' 21% 22 %. common" Breweries canaaiHij 1st 10 Commerce.. 01 i>tiuK Jan Wares Steel 2.75 Dec 14 x 3,710 . 20 ' ' /* class A-' Goldale Mine 160 85." ! • General Nov 30 25 15* 48%" 14 47% • . — Class X 0U „___50, . . class Wire Products Mfg ' 4% 5 %: ..'20 20 17% "~-i Id ?/:?" 107 107' 6.15 6.50 5 ".V'.'i'- Low i 14,350 3.00 3.25 18 < 18;; x/A."1/ 260 45 110 110%:, • Range for Year 1946 x Shares High Low « . Bakeries 25 10 198:'' " Jun 25 Va Par . for Week of Prices Sale Price , Exploration General Jan 3.60 . ?/', > • *' General 108 % July Jan 75 - •4. Jan 14% loo " ■, Sep " i.72' «epx- •102% 15 May 56c Nov .; c; i j. 3.05 Gatineau Power common „„»fo >• 18 5.% preferred—___^x._A______i_100 .110 41c J 1,765 —r v; Oct 20c y 33% 2.95 ' 5,200 '•> : • *,- , Froblsher 19 '/a May Nov "lie. • 40 17%': 39 39 1.55 x 6,125 ' 25% 61%10%: 25% 61% : •: 16,225 31 30 ' , * _________ Class B 25%. 100 V _______—_ Power Norch canaua Dec 25c 29c 2.30 2.50104'A 104'/a' 20',/a 23% A — __——a---—_20A"-"""" prelerred '•i New Jan". 16 ——_1""'11%cx/"a'; llcll%a Flon Fhn Callinan Jan 28 50 '. ; > Feb 44o 15 11% 5 t;xry;/ 5 11,400 32 2nd' preferred____4_^i>-^r^^4<W-:-~-'**.>'.fe',ll.1lV'V;-«™' ;•/"• 16 ■'• 16 Cax6*rj:..ol e-amonton: _• 1.80 1.75 1.88 1st t : July '* 19c 39,500 : High fx Sales x,y '/-•> Friday Week's V" '""Last "'■■, /Range ;> 'x STOCKS— -••• Range for Year 1946 Shares Hivh Low Gold——lm 25e ^ 25c 19 .V —12% Calder Bousquet Caldwell Range /x'/'/.i"'";P\ v;.'/A::'" . for Week Last '■ '■l*'1; 'pp/P ;,,.u'i> ''''•■-/VA',-: '' ' ■ 1 Sales Week's Friday ' ENDING JANUARY 10 " 51c Feb 1,200 8,565 9c Dec 45c Jan lO'/zC- 1——i —.—/ 19 .20 " 29y4 17% 18%. 29 17%- - 12c. 19 29 y4- 17% - - 12%, Nov 2.20 21 Jan ' Apr JanJ 130 25 Sep 35% 175 17% Oct 207/b July , Volume 165 Number 4559 THE COMMERCIAL & FINANCIAL CHRONICLE CANADIAN RANGE LISTED MARKETS FOR WEEK ENDING JANUARY 10 Friday Last STOCKS- i Friday Sale Price Week's,: STOCKS- Macabe class McColI A __„__* Frontenac Qil Preferred Simpson's common—— I* ; — ... « Segur_. * Mclntyre Porcupine Mines—_—5 McKensle Red Lake _y_— — Red Lake Gold Southam McWatters • Model Oils Modem Containers Preferred Modern Tool—. new L— i.: * Digm Montreal 1 Jbteat at eowti— «*t.eeo - Moore Corp common ,_» Brass_ National Hosiery National Mills 5 » 20 Petroleum___y_;._; A_ Nib 2.10 j ,: y i5c ^_* 9'/aC ; ^ — • 1 83c 16c 160 ] — 8C 8V2C 1.76 1.89 I ] 26c Mines 9c < 65c 74c ' 5% 5% ; 40c 45c Northern Canada. North Star Oil common Rouyn M/nes 1_>_J > Okalta Oils Union Gas Mining— ^United Corp class Class « Orenada Gold 1 i Osulake Eastern .1 Pacific Petroleum '51c . -• - Paramaqua Mines .1 ; Malartic .1 ; Pen-Rey Gold Mines Perron Gold Plckie Gold V ,12c -1 7; 3.05 U - -1 Pressed Metals Preston East Dome— ' 1.66 common 10 1.66 __ 54% .71-'' Quebec Manitou ._i Queenston Gold Mines _1 : Tex i._s ; 92c • 2.15 1.25 7 V* 65c 93/4 class A. 11c 7 He; 24% 93c -• —* Cotton Roche Long Rochette 34 . ■*;. —* ——— Lac —1. Royal Bank .• j, 7 14% 7 38c , ; 51c 24% 14 Va 24% _IO — Royalite Oil Rush Lake Gold Mine Russell Industries new : common—_ STOCKS Andian- Sep ; Apr 7 W. Feb 25 -" 12% • 1.19 16 —•7779% 9% -50 7 37% 37% Canadian Canadian ' 118 Nov Saginaw Power San Antonio Sand River Bannorm preferred— Gold Mines 100 Ltd — __1 Gold 4.25 7: 9%' 4.25 21c __1 77 56c 56c Sherritt-Gordon Sick'" Brew new Brewery class A— — Silknit Ltd Silver Miller 7 13% 7,- 13% preferred -4077 — I —* ; 1 _ see page 246. :* .___* >- — 38 Va - 47c 11% '-.■; .7 - 13% : . 13% 13% 13% 9.00 9.25 38% 38% 43c 47c 11% 11% §Va 7 16% 16% I 7::;77 —* 7 67c Feb 39c y Jan 18 July . :y 54 21Va 23 28 148 t : 405 210 a 3% *..7.7/:-7 .7 — 3% • .7 7-41 327;y 2.20 __ ••y'!il9% ;7 19*/e' 2.20 " 32 34c 34c 37c 100 7- .165 .165 165 33 34 Oilcloth. * 33 —20.., r— • • 95 '717% .,7'17% :'T7% c_— *_• • ';/■., 100 24 24 % " ;____* \ 25c 4 00 51 ; Nov 15 July 45% Mar 51 Apr : 559 July May 24 .. 17% : 40 ■ — U 24 ' : 24 24 % 24 % i /;..•; 225 - - 51% 54% 18% 18% 18% 3.15 3.40 2,005. 21 1,700 3.20 ._* ' 7 ? . 20 — ——:——1 20 20 75 1.75 1.75 100 47Va IOV2C 4,290 47%-y 10%c 10%c 7 Y 50 : 2,500 1.50 77 20% 200 . ".••■• Jun — Oct . ;Y 2.15 O^t / Oct 739 Sap 2.15 17. 1,75 9c ' July (. . Aug 5 ; ;< Apr 2J^May 5 00 F^b Mar . f 4 > Jun Ot ,, Oct v 29 N-v >, Jan 59 P"0 46 Feb 39 25 S*d 16 7 V Jun 118 33c Feb : i 7 ; Jan 17-s July 91 Apr Jun' 85c Apr Nov 7 Jan 23% 32 ; Nov ' 31 ~ .Jun (4'*''*' 3.80 Feb f 61% Feb 39 • ordinary4__7l*__* — Oct Jan 45 51% ••::• —* __*_ . Dpc 50 7. 1 Paper • .7 ■ Oreille 173 . 15% July 118 ? ,r.y;■'■ R 7yF»b ,7:; Sep43% Jun Sep —. _♦ :•./ Reliance Grain July 1.35 7 , Aug 25 21 r . Humberstone Shoe —x International Paper common Minnesota & Ontario 42 V/.77''••,■•■•:-:■'•'-■.■-L'V;,-'p--.r 2.10 1.90 2.10 7 1,900 * Hayes Steel ' Jan Sep 45 100 .,.10 18 17% 25"-' 50 71:7 7 /18 2% Oct ! • 155 ; 38 95 __7; * , Sep 26 6,600 7^.4141 38 common Paper 7 104% Apr 7,29, Feb Dec 135 75 7 Apr Apr Apr - 8% 19% 20 t- 78 185 34 19% 77-3,995 30 - . 1* Mar 7r7 2% ,Fer» 10,200 • > Sep 67% JJep 20 * Dec 630 - 41 Sep 7 13 30 152 3% ; 345 ! • Oct Jan .; 35 4 2-,100 : 3 77^7 ———* Stop & Shop /_ Supertest Petroleum , m ;7;7:. 38 7*7: r 46 , ^ ami,23 .. Sep 160 100 950 335 21V* __ 24 75 ; 84 15% pou ' 14.. Dec 175 161 .y;"7 5 32 common——. i 7';7 . 100 -s .7; 37 Va 7 28 100' * .— Temiskamipg __ 22% 5 — Foothills OH & Gas Pend 82 21^ 21 -vy-'..— 7'-:15 ' * „: Glass Dryden V4 1.33 2.28 1 footnotes 13 1.30 2.10 —• Preferred For 13'/8 1.33 2.10 .-7 ——a. Class; B • 13% 1 Silverwood class A ,. • ,50c Mines common V T C Sigma Mines .... 1 ... . ' *■'>• . •;<*-?v Press class A Dominion Textile . i Gold 1 Oil Donnaconna 4% - .. ;2% 77. 2% *—'. Lumber . 82 • preferred Bridge Dominion 4% ^ common Western 27Va * common Dominion ,;> 25% 24% 25% 17 :;7 7- 7 n 40c 40V4C Shea's Winnipeg Sheep Creek common Dominion .„* Shawxey Vickers 27Va 77:7752 7; 7 54 100 /, - 161 ,• 7 160 _* ——u_ deHavilland 64c Shawlnigan :6.55 Feb Dec Dec •, High 14 j—* Consolidated Paper Dalhousie 23c Senator Rouyn Ltd Sugar Marconi-*.;' Consolidated 4.50 22c '7/77:7.7/. 14 ——__100 Westinghouse Coast-Copper 9c;'. 78VaC 7' 9c —IVy-.. Mines 7 Mav Range f or Yea^ 1946 Low . Canadian 105% 105% .. *_ Industries Canadian -Jun 77:.:.';; ——- cf*' 120 preferred XSMI common...^.* Preferred:*--*— :Jan 38% 7 119 '7 77 Paper Pulp Fairbanks Canadian 25% July 15': .100 Lawrence 29 13% Dec • Oo common—. Canadian 1.57 Mar 25 57c St Lawrence Corp common Class %A Apr - 43c 7 Jan Oct 19c . Par : Canada Vinegars Feb 64c ; 12 105 r 10c 7 .Last yyy/:- Rang* 7gof WaA7''-7y,^7>y7v'. 8ala Prlea at Price* Shins : • " National^7———————7* Preferred y__ Canada & Dominion Jan 38c - Preferred Brown Dec Jun ; ' .. - Asbestos Corp British Columbia Apr 22c 43c 47c % Mav Oct 7 2.95 15: v Exchange-Curb Section -'y 7" May 16 % May 1.03; 49c " Oct Jar Nov • Jan 13c 30c 41c 94% -12c 15 V R»»» 22 3.40 26c 11c V I ' 7 >■/•/:7'v7v^^777:77y7>77■•.•■,•:. Jan • • — - c 49 : St ■ i 1QC 12% __1 24 14 10c • 7 25c* ' 7 11c 118 fc 39% May 21 42 10c, 39c 73c .35 13% 10c -,10c . . 42 -IOC , 34 21 - 14 —1 : . '7 :7;7'7^V7 * ' Rouyn Merger Gold Mines Roxana Oils Co • 10% 40c77r-40c '■•■47c —* common 73.15 7r : Dec 67c -7 11c QQ 16C 7i7.t77-.-7;/^-sb77,7y.7'7777 77/i7Frtdv-'-^:;.;WMikV:,i.; Sales Oct 8 1.99 . —177' Class B . 23 Va 1.40 974 , 14 %C 777.7725 %725%.! 3.15 Toronto Stock Feb . 1.14 57o ' QQ lie • _y__— Dec 7% - —I lf> Dec ■ 36% May 108% Feb —_i—. Apr 1.24 1.25 29c Dec 37 :: Nov 7 ll%c July 23c Dec 7 13%. 13% Jan Dec 39 Oct Mar Mar 1 21% 20 63c -» UchI ;6s .. ' 1.17 1.01 25c 55c 30 Oct 34% 103% Jan 60c ' Oct 25 105 ■ Knitting common—— , — —1 Richmac Robinson v Dec Nov 33 % Feb Nov 1.69 , 1.041 j. 90c. - -1 1 Gold Silk 25c 14% —. 25c ,7; 15c 17%c v 5.10 31, Dec 16c 30." 105 " 7 18 35% 287 ■ "i 16c i——— u_-_ Ymir Yankee 13% 13%i 54Va ' 54% - 20 , ._*, Reeves Macdonald Riverside 35% 29 40(5 3.R0 Julv 38 7 ; loc ijan 24% Nov-* 48c 22c * " D~ec 7; 18c BONDS— 1.92 96c. Quinte Milk Robertson 36% i.——: -. f/-WA 1.07 Quemont Mining Winora' York ; 13% 18C 90C common___ * 28% ^7 Wright Hargreaves Mines. . 17C .40 ——y—«—-- ■ 13 13% 13%. - Quebec • 'Gold..—7—•- Reno 28 36% ■ "'/acJan "JO p'b °Ct 500 24c' 21c : common Wool Combing . -1 -i . Ltd •;1213 58c / 22c . — Winnipeg Electric 77.'preferred V; Apr ^May AfSS- ,:;..JS*.S2 ;■ ' 4.60 7 "« : 85c 12 11 ' Rentrew 25% 52c 28% —1_; com — 1.00 1.25 >1.40 50 % 50% 9% 10% 10% — Preferred 32c 71C ':7:-77 .1 Proprietary Regcourt 20c __7 — new 20c 56c Consolidated class A— Preferred y: 1 80 Jan 26 7 25% 4.50 ■•7:7:25 4.50 25% — New 34% 88C , -1 ; 1.25 1 00 7! 750 Va ; — 29C 85c — ;___ vPurdy MicaPurity Flour V Jan 105 y" Julv M»y 21% ^ Dec " Mav 39c , 4,600 -7850 J'llv 22c 25 J , 47^-7: ■ 3.25 34 V4 95c ... -* Gold Trust Mines | ~ 25% Preferred —._—^___—__li V J:Wlltsey-Coghlan Mines Winchester Larder . -.-U 17737cI - 41c.„;„ 34 Va -• Corp. Premier — —,—S it— Gold " > 14c--. 3.00 32 c —— Premier Lake Westons 29c.T 1.26? 7;y3.55, .7 3.557-3.757,7 _1 — Power f 56c 12c v I ._, - West Malartic Western Grocers y x?l' feb 18 Jun Oct 9 25 ' B C ol Porcupine Peninsula Porcupine Reef— Powell River __i Powell Rouyn common Voting trust certificates— . 1 ' -I Mines Pioneer Gold Mines ; 52%C "26%C 17 25C ,■ ' I2c.;7 ioc -y?77vT.18i">:7l.l5;. — Crow .»•: .preferred— Oils. Wekusko 5%c v-:l 53c- Jt Mines Piccadilly 7 lie 13 VaC . 7; ^7775%^ Paymaster Cons Mines Wasa 17VaC..'22c • v 33% May vv 9 25 fWaite-Amulet Mines, litd--—^--— 7 ]t 13 Dec 13% May ■ •'S9*% ?'375 '7 °?ec 2i| f 15:£5::7|33JS i. Walker * (G & W) 1.70 18c- 77- .1 — 1.53 13»/aC' .1 ; 8%c"^' 18%c 1.60 . 51c 7':$3V7:;-> ■32<vy:33>?7 ' Parbec —2 7c 50c 175 l?11 %"e —__ Dare Vulcan .1 Page Hersey Pamour Porcupine Mines Ltd Pandora Cadillac Partanen Canada..! ;Virginia . " 14c nls ■''•■•'00 "r',13 A 7/; VUibona 7c r. •••"•»" ■* « as/' ■; Anr 47% Dec - ___• •:: Vicour Mines - • inn 2,500 , AS??f * : .Steel_____„__.L__^— Facalta' • _^— Ventures, Ltd Mines *21% *21% v*L nn OV* Jan Jan 11'/a Jan »??'••"£ *» 13 '104% Jan ' .>11JV 2-40 Feb 6-^c ■ Upper Mines ' Pacific B 1 •"7 United Fuel class "A"_ Class B !— United Oils.;:.————______ :United • : Orlac Red Lake Mines Oslsko Lake • ' 18c 21% 't v Ill 20c , 2n Dec , Mav 1.25 May 1,10 Dec 142 Dec 80c 15I/<S! Dec 1?? PPb 145 < - Dec 5.35 Dec 20c 3°? ' 12 Va - ; Oct ' '•1 85 / ™ Aug '" 125 Aug 44c , V ?« 54% Are Dec 37c •' l'?on 175 1.95 Jan 27Va Ma* : 3.05 JulT '3 •' 2n at 101/10 • 11 37,000 » in'1 1 n 111 7.1 — *v,'.'. Dec 4 10 Feo Oe® ' ' <,?* °Ct 25 " Zg"aoi/C '1 y'x 4,380 '>175 191/ " Co V •/''dTo ■:{ City common_.i+_— .110 lov TS?P 5.377 180 10 i. v; TronscontihentaV Resources. -• , ' — ; O'Leary Omega Gold Mines > Omnitrans Exploration Orange Crush common 60c 10c 122 —* v ' fa - "" Mortgage_;-__7_i.___—__«._10C Jan 5;-'" 52% July , ' , ^ 48c •; 18 vie*/TV* 1• Traders finance preferred__-iU_:i__ilO( 'r-V.-Class A' rights. Twin Jv /? ' o ? ' , ?1S 3.65 L35 1.35 :. General Union 'O'Brien Gold Mines Ogaraa-Rockland ° K —. . 1 j ca 54'.:®* 54VI. 1 12% o x a 9c May <•«"» : 98 ;^ " 2.15 July 5 -7; Class A— 29c < Norzone 50 Tombilt^_6i_'*_—^-—* Toronto 203 20 f-; 827' *'2?"" 3'522 " ^ 80c ,____* :=; Towagmap 12 Vac 15 Vac North Jnca . ——___i Carson com ~ Northland ?d W%~>S'v-£ Trust— 100 Toronto Iron Works —_______J____* •; •i1o7;;1''S _____.i__.i__* GOld Canadian Toronto « Norgold Normetal Norseman : 65c »»• 1 common I Toronto Elevators 50%; 57% •; 50o - & 24 I*4' ' ■ , 2.10' ' S 9?/*° $ >S ; ■;'I SH£5 /sc. 3™. 1?:^?. » - 1SS ? 2,7° >: 6'400 -lis 1 Tip Top Tailors—* 9%c 2; 10 . Gold J 9c 8c 'v s?': Preferred___________i.___4_-_____100 1.40 9c n ss |, iwSf iot"21 > v-io -100 i Thompson-Lund Mark Gold Mines——* Tnurhois Mines : 15c 16 Vac ft — Norbenite Malartic Mines Nordon Oil7 v; Mines. Preferred Texas S 17 6 Nov J J4 ' Teck-Hughes 2.25 1.35 9c River Jun Jg* ' • — Taylor Pearson 11 %c 12 %c 1.38 y— Nlpissing Mines ! Noranda Mines 2.02 11 Vac Yellowknife Nicholson 15c '••7 31%; 31% !.y 24 24% 24 Va 1 set • Mines Consol Tamblyn (G) 12% 12c • New Calumet Mines. Newnorth Gold Mines Taku 12% i_25c Bidlamaque 1 common 100 cons Inlet 40 %*Jan ^i°o - ioi: 1 19'/a 29%'- 29% Negus Mines -New iron Sylvanlte Gold Mines 13% ■13% A—? National Sewer class National Steel Car. 2 Surf 19 class • Contact-. buiuvuu 101 A?§7'I : bS" »« rr?/ nu * River Sudbury Mosher Long Lac_—_1 Mylamaque Mines I National Grocers common Preferred Rock Sturgeon l National Drug & Chemical preferred * Sterling Coal Sterling Trust Locomotive Morrison ___• Co Steel Co of Canada aieeloy Mining Corp __100 Porcupine ■A ^ Starratt Olson 33is , ,.*■> Class B ___100 ' • Stanley Brock class. A—— * common Monarch Knitting common Moutreal a __* Standard Radio class A 1 ; — 27% Jan ifo Mines Preferred Mining Corp V-JSS 20 Springer Sturgeon Milton Brick 11 28% 1046 Low 1 Standard Chemical common grandard Paving common Mid-Continent Oil & Gas HloK ' . Co Ohaaauutib •< 100 .. Slater. 1 Mercury Mills Moneta A... MHIW. ' Range for Year * .: , ni«0«b for Week Shares of Prices Low A Class B Preierred Siscoe Gold Mines McDoUgall McMarmac class Sales Rangev ; ce f; Monday, January 13, 1947 • THE COMMERCIAL & FINANCIAL CHRONICLE OVER-THE-COUNTER MARKETS Quotations for Friday, Jan. 10 Reorganization :Bai(s--;V1'". Rails Investing ■ Bid Far Funds—, Mutual Aeronautical 1% Amerex Holding Oorp 10 American Business Shares 1 American Foreign Investlng.lOc Oil shards Axe-Houghton Fund Inc* Axe-Houghton Fund B- —J Beneficial Corp 1 Blair A Co of America—— Boston Fund Inc —B Broad Street Invest Co Inc—. Bullock Fund Ltd..— -1 Tr lnv Boud 6.09 4.56 35 4.01 9.16 - 7% ..; 7.54 . * Bid Far ■ ed) V(When, a* and if issued) Ask iCont )- • ; . Series K-l Series K-6 19.15 20.98' 21:52 23.64 Series S-l 6.69 4.96 37 * 4.39 8.94 8%y 8.15 < 15.90 >. 17.28 /:/" 6% 6% 4% 5% 99.58 103.73 22.45 24.14 17.81 19,25 18.0} 19.74; ...1 Becuxltlss Affiliated Fund Inc. As«oc'ted- Standard ; Keystone Custodian Funds v - ' Ask 26.50 29.1Q 14.73 Series 8-8 Series S- Knicke,-bocker Fund 4.50 5.20 30.74 33.05 14.62 15.82 Christiana Securities com—100 2,880 2,980 Preferred ......——.—100 148 153 Commonwealth Invest——.1 5.88 6.39 Delaware Fund—— —> 16-38 Dividend Shares —*JB« , 1.50 1.65 lnv Fund Ltd—.—1 Century Shares Trust—*——**• Chemical Fund—. —1 Canadian ' Income, 4%a 2018 61 1993 89 ;Vv > shares 14.15 15.25 10.47 11.32 25.17 15.49 24.12 Financial Industrial Fund, Inc. 1.98 First Boston Corp..— 10 42 First Mutual Trust Fund——8 5.66 Fundamental Investors Inc 2 13.94 Fundamental Trust shares A—2 * 5.85 General Capital Oorp————* 4288 General Investors .Trust........<#»■*.'., ' 5.69 7.75 5.40 Aetna Casual & Surety. 6.82 7.61 Aetna 6.92 7.61 Aetna series series 3.95 - 4.46 • Securities— i ' Y Agricultural shares——— ■ Group ? j , 7; Agricultural ——- ———— 6.50 6.14 8.82 6.94 Electrical Equipment—«. 10.01 ; Food shares—————— 5.45 Fully Administered share*—7.72 ; Building shares Chemical shares :; 8.14 7.00 9.98 Investing — —— 8.16 Low Price Shares —— 7.09 Merchandise shares. 9.21 Mining shares — *—*;;••/ 5.28 Petroleum shares———— 6.57 Railroad Bond shares——— 2.71 RR Equipment shares——... 4.57 Railroad stock share*—., 4.56 Steel shares—— -—A 5.15 Tobacco shares—— —; 4.72 General bond shares Industrial Machinery ' shares— ntllltv Huron Common 6-90 7:59 8 .61 11.47 9.63 — 9.88 10.86 Boston 8.19 9.73 10.70 9.96' 10.95 —*— Oils 10.78 - B-4 28 .10 I National A (Geo) Empire Federation North y 20% ' 75.; Northeastern Northern • 5 % - Fire -65% Federal 3,98 - Firemen's^ of 2% 69% Preferred Accident— 54 Providence-Washlngton 5 12.38 82c. 90c 44.50 47.50 Hanover 89c' Hartford 23.16 Hartford Steamboller mspeet..lQ •V 3ftr 25a series A.*** Fund 80c 22.46 O . : . 7.22 f 19.21 i —*, 6.53 Seaboard Surety 20% Security New Haven 53- 8% 11.45 Bond 34 50% Globe & Republic. 5 Globe A Rutgers Fire com— 15 Glens Falls Fire.. * 106.20 > 36'!/3" , (Paul) 10 Fire Paul Fire A" Marine 67;;.7ov^: ^ 53 %; • .'I 50% \ '29% 31%, ■ 104.10 6.60 .*-/11%;; , 4% ;;••• o;%. 26% 29%- 10 iTexas) • Revere St 10 * Selected Amer Shares———2 M» Sovereign Investors.—*——I Standard Utilities 10c ' Republio 14% ' . '' 34, 2nd Springfield Fire & Marine. —25 109.'^ 1.13%; Standard Accident... v .27% 89 k: ***** Fire. —. — ... 28% 26% 0 8 Fire— '41- ' - 4 0 S Guarantee.., 113% 108% 605 - 48% 78 10 2.BO Westchester Pire— , / : •'••-45%%:.' 47% 0 8 Fidelity A Guaranty Co.. 2 .24% 16 (ft :y- 590 Traveler* > 26% ■ 30 %' * ; fAiA-ArJ 24%. V 85 j 18 preferred ' 9% : 21% - ' 53%: 60 > 8 "10% 10 Oorp-(NY) 23% : . ;,31 *• Gibraltar Fire A Marine^— 105 18% it 3% Reinsurance 100% 96% 13% ,-21% . . 86 ' 58 y, B * - > - ■ % . %..98;% 50% 10 166 .80 - ";"94:';'V 10 5 ,—5 Newark-. Fire—.J Franklin '}?kA 28 r 1 :• f 55 '> Fireman's Fd of San Fran. *—10 16.68 3.62 Clark Scudder, Stevens A Fund, Inc 50 -23% • 6'% ;.^7%- 1* HQ Employers Reinsurance 158 21%.. .53% : ■ Fidelity-A: Deposit of MA 20 Fire Assn of Phila— ,——10 12% 2.50 ; — 8.87 12.81) < i 53 •,•'- : 50% 8 River. 8.56 100. Pomeroy ' 51% -,:;; 33% 84 " 36% 21.00 7.14; <; 0.10: Fund B— 8.38 Preferred Stock Fund—— 20.95 22.90 -1 18.17 19.83 2.50 6.80 7.75 Independence Trust Shares.*.**1* 2.5? -2.80 v Diversified Trustee Shares— 29.35 North Amer Trust share*— ' 27.93 18.83 10.35 D Series 1956— 3.39 Bond*—' 2.90 —; 'v;:-■ 21% '-IsV Ss—*——1966 87% : 88% Australia 3%s *.——*——196ff.-k.*' . — Calif Elec Power 38—^.*—1976' 104- '104% Electric 2%8*-*—1976 1970 Banks & Trust Cos. 441/4 42% 103% 100% Guaranty 100 *100 10 — Trust Irving Trust 133 128 Fulton Trust—*———100 Grace National 382 367 Bid Par 28% City P A L 2%s 1976 Kans Okla A Gulf Ry 3%s_108O Kansas Monongahela Power 3s 1975 Montana Power 2%s— 1975 Ohio Public Service 2%s 1976 Pennsylvania Electric 2 %S—1076 Philadelphia El Co 2%s 1981 Philadelphia El Pow 2%s__1975 Portland Gas & Coke 3%s_1976 Public Serv (Okla) 2%s 1975 .100 1,770 4u—25 49 20 f 55% Morgan (J P) & Co Inc 100 266 National City Bank ___V2% ;/ 43% Kings County Trust 39% Lawyers Trust 44% 46% Manufacturers 43% ; 45% 37% , Trust Co New York Trust Public Nat'l Bank A Trust_17% -50 95 10 22 24 Sterling National 25 Title Guarantee A Trust——12 United States Trust 100 $ 38% ;• 41% 10 1,665 *—.100 1 ,605 ' 102% 100% • v r: Monongahela Power 4.40%—100 Ohio Public Service 3.90% * — 104%: 106% 102% 102% 101% 102% 103% 104 " 101 102 99% 100 102% %103 , 101 99%; 100% -v. fi'. P-N. '4 I'M 'S.-iyi''*'• ^ *■'" T'f' Preferred'dtocks—ij;;v. Fa* ■' ■<% A . 102% Pennsylvania. Electric 3.7039— Serv (Ind) 3.507# Public Ruppert (Jacob) 4%% —.100 3cranton Electric 3.357#— Scranton Spring Brook 4.10%. Oil Dnion (Call Westinghouse Willys 101' 102 100% 95 ■. 104% .106 92 100 95 ;. 62% > 102 102% 102 101%* 3.807# 4%%. ' :io2% : 96% a 101% $3.75 Elec Overland \* 108110- . 53% . 99 % 25 19% 60% 90 • 103% 105% 102% 102 1965 Laclede Gas Lt 3%s— 180 200 333 17% .104% *—1976 101% 102% A Light 2%#.1975 103 100% 102 -V Yonkers El Lt A Pow 2%s—1976 103% 104 101% • 104 99 ' 1976 Power Utah Pow A Lt 2%s (Ask 102%; Transm 2%s—1966 Texas - 102% 98%V, 99%: 104% 102 V'4 1961 1976 Pub Serv 2%s Iowa 101% 10314 2%s—1976- El 2%s*—1975. Tenn Gas A , Paso Brook Sioux City Gaa a Bid Far- •'. .:;.' Scranton-Spg aa American Airlines ;v ';.'Ask ;'%&v Z'A' i 'Ask Bid : Far ——1 1 U S El Lt & Pwr Shares A. Series 1955 r 18% Bank A Trust ' 23 Fire Pacific Indemnity Co. Pboenlx ';V- General Reinsurance Corp..! 58% Fiduciary Trust First National Bank York New * ;;• * yNew Hampshire I Ire...—.. 10 ; Pacific 15.51 Bank A Trust_20 —*— 6% 66% 31%. Crum As Forster Inc.— »7 a ■; _ '31% " : Bank & Trust—10 Trust A 51% . i: .; — 5; 39 •29%; -7 20 Trading. Fund.. 30.53 14.08 27% 20 Trust Co Continental 5 10 87- ;^28.;v>-", 26 . Casualty '28% 8.06 Republic Invest Fund. 3choellkopf Hutton and Commercial National Bank A Corn Exchange ^63%; , .18% ■-72 y 21, •r 27(Detroit)—10, t25..-v* National Pire..: _io ; '52%; r.54%;-: National Liberty : 1 M ■«%: 147 ; ; 157 ANational Union Fire 20 New--Amsterdam Casualty.——S , 27 %< 20%r New Brunswick —.10 ;•! 24 y'r, 26 ,t National '18 -: .68 ;.v City of New York..... ..10 Connecticut General Llfe—___10 55%- 82%, > 34 %. , " Employees Group. 13.27 7.78 Wellington Fund Bid 15 10 Bank Chemical Bank A Trust. , 21% Continental Casualty__ ^ 11%';, SL-j Unit Type Trusts— New York City Chase -v: ^39 % ' 19% Merch A Mfre Fire N Y - 6.98 11.71 _——- Petroleum Putnam 20% 62% ; 2%s 100 Central Hanover Bank A Trust 20 , 15 %-••. * 5% Illinois Power Co 2%s— Brooklyn Trust 27% ;i02 53% ..———.- Massacnusetts Bonding.. 12% Merchant. Fife Assur, ^—*—8 ,;ni%. 64 — preferred y,"Convertible preferred 6.03 —— —— Tobacco — Gatlneau Power 3sa—^ PAAAP >: ^ar Manhattan Co.—10 Bank of New York 100 Bankers Trust 10 Ask ■ Casualty common'—;.! A 10% 6.34 - Railroad equipment.. Steel Prior 12% •18%, 60% 36 V: . 0 E1 Bank of the 34 i Fire. 5.47 Utility Railroad Union 28.02 25.49 17.16 9.43 , 20 Maryland ...34 >1' 16 .10 ; Camden, Fire.. 9.46 12.08 — .Public Series B-3 Jersey Insurance of N 7 * 11.86 8.60 * B B-2 74 ;;f 31% 9.01 Common Stock Series 4 Bankers & Shippers. 13.06 Union B-l 98% 20 % Baltimore American. 12.78 Trusteed Industry Shares ' 10 71 _10 State Street Investment Corp— OustC-lan Funds— insur Co of North America •49% y American Surety... Automohlle y 11.89 — —... Securities Ltd-— shares—— Bank Group shares— Insurance Group shares—.... 99c Stock and Bond Group shares. 14.28 Investment Co if America—10 4;; 28.08 Investor* Fund CL... »1 13.78 Series Reserve 11.63 Metals Aviation Group Series American Fund*. — Machinery Institutional li-% 13.86 _ Series , 10.59 12.62 —— Merchandising ———. 10 47% Casualty—..: Speculative—* Electrical equipmentInsurance stock,— 7.80 10.12 5.81 - '7.23 3.00 5.04 Bid 25% t56 '10% .0 B : 16% American Fidelity & Casualty.#. V10% 19% American of Newark 8% American Re-Insurance..—L10 31% 9.47 10.44 — Equipment. Diversified 8.49 Par Home Homestead :, American Equitable..,— 10.62 '•■•; ..— Cl.amical Incorporated investor*.. Keystone 9.66 stock. Bank 6.00 ••;»: 51 -49/ —4 87. 53% Automobile.—.* American .16.55 Business Foundation PUnd Inc Income American -6.36 Building supply 5.02 :. 5.67 5.20 ;5.62 6.19 — Holding Corp— 4.05 5.73 Aviation 8.95 . 3.64 15.43 England Fund— Automobile 7.70 10.48 f 8.97 - Alliance;—*«.* Stocks Inc— Agriculture 11.00 — share*— Institutional bond shares - American New York 7.63 r 16 •• com. Ask 84 y —25 — 4.36 Stock series 7.15 6.76 9.69 Autortioblle shares — Aviation shares—. Grande • 65 .. 8.99 Speculative series 7.82 At' Rio Preferred —10 Life 3.92 — Diversified Investment -.7.11 , ,-"lQ 8.14 New ' Bid .4.10 — Preferred stock series 25.97 2.17 45 6.31 15.28 6.74 48** 6,10 Fidelity —1 — Fund 1 Fund Inc.———; , "" ' 7.05 4.88 Low priced bond series — Low priced stock common- 26.91 16.56 Stock Denver 63 1 91 -^LV3Q 28 100 ' A 62.: -62 Insurance Companies Par Selected series A Howard— Balanced Fund **♦" —* — J: — 14.21 — Industrial stock series——- Eaton Paclfio- * preferred 0preferred 12.24 National Security SeriesBond - ' National Investors Oorp. Income • Securities- Nation-Wlde Balanced Common 27.58 25.65 11.38 *- Chicago Rock Island ds •' > Ask * 8.72 7.93 1 .1 Mutual Invest Fund Inc——10 Investors 2d Fund Mass Stock* , ' 107 - >; .Bid 49:70 48.71- Mass Investors Trust— /.> , "r';'V::-rar> .v '..v 85 1st 3-4S incomes. j,;. 105.15 Loomis Sayles Second Ask,- • . '■ Denver At Rio Grande-A ", - r 6.05 5.46 — Fund—* Fund—10Manhattan Bond Fund inc— ': Common ICc Loomis Sayles Mutual n. : 5.16 4.67.. 1094 : • 104 2019 : 82 4%s_— : . , . 1st .4s—*———*, Conv?income 13.11 * Bid Chicago Rook Island A Pacific^ v 16.21' *•'. 11.93 S-: Series v ' Par Bonds ^ v 43 68 15% 715 United States Treasury Bills Bates quoted are for discount at purchase A Mr Obligations Of Governmental Agencies Par Bid 1950-1948 — l%s May 1, 1950-1950 1 %s Jan. 1, 1953-1951..,**— 2V4S Feb. 1, 1955-1953 l%s Oct 1, Par Ask Federal Home Loan Ba&ks— federal Land Bank Bond*— 1%S Apr. 100.10 100.6 99.2; 99.24 Other 99.6 99.28 15, 1948 Bid Ask Jan. Isuiet Canal 8s——1961 126% 23, 128 Bbb. {March 15, 1947—. 15 1047— 1%% Bid 100.2 .1%% AVt% 100.13 1947. {Sept. 15, 1948. .1%% 100.26 fSept ffUnrt 15 * 1947-*, 13, Mar. b0.375 1947-—; Feb. 20, represent one or more 32ds of a point Maturity— Dollar 100.3 Certificates of Indebtedness— 100.14 t%s Feb. 1, 1947 100.9 t%8 March 1, 1947. 100.27 April U 1947......... — 100.8 A«k t%8 June 1. 1947- •' {%s July 1, 1947*—— *%s Aug. 1, 1947-no. «i— ***** t%S Sept, 1, 1047—* **— 4 r>•' t%S Oct. U 1947****—* iVoS Nov. h 1947—* . a Frfee 100 Bid. .0078 .0145 lot sale - Mar. Mar. Apr. 0.35% 1947-——— 13, 1947 —... 0.357# Apr. 10, 0.347# 0.35% 0:35^# 0.357* 0.35% 6.35% 1947:.--:—bQ.375 ' . 1 1 1 * f, a (not included in year's- range), J, bBid yield price, : , \ *? . 1 U? d Deferred delivery gales yearls range)., e Ex-Interest. :'f Flat price.Vk Removed to> Stock Exchange. rCash (not inoluded; irr year's range). tEx stock dividend. . (Un) Unlisted-issue, w dWhen delivered, \ (not included in, I sales .0120 w .0198 .0241 1 When Issued, »Ex-dividend, y Ex-rights.'7a 7; ' ♦'* '.w...1.-, *. - * \ ' '!. .0327 .0358 — l'/is Jan. 1, 1948.——.—. ,0141 1„ 1947 Odd Plus Ask .0282 .0301 .0355 .0266 .0233 .0266 .0298 V/bB Dec. t 1 Figure* after decimal point Int. Bate * 1947;***—*—*;***'' bO:375: b0.375 b0.375 20, 1947 — b0.376 27, 1947———— bfl.375 3^ 1947^^;;*;;—;;;;;;;;.;bo.375: 27. 6. 103.6 103 Qnetatiens For U. S. Treasury Notes Maturity— .*.! b0.375- 0.337# b0.375 0.33'/# '* b0.376 0.337# —'• b0.375 Q.347# 1947—* J|ni. 30, 1947 Feb. 6, 1947. . Panama Mar. 16, 1947— Jan. ;•;*#■■■ 99.31 100.2 Feb. X ' ■ b0.375 '0.287# TreMury bill*— ♦No .0394 .6465 .0392 .0376 .0425 .0474 .0333 ; dividend. par Value/ tin default, (; '-v. . {These boftds are subject. to. all Federal taxes, lEx-iiquidating A\ ■ (7" » •v. Volume: 165 Number 4559 THE COMMERCIAL A FINANCIAL CHRONICLE THE COU RS E O F B ANK 247 CLEARINGS V { , ... Bank : . clearings this week show witty/ decrease compared a . ftig foregoipg will f l#.aspd upon from which it is possible 0.6%: below ■!;those for year? ))^ the this center there day "of 2.8%. follows:. is loss a week.in for the week 1945/ ended are totals Saturday and the Satui Jay figures In the ended Jan. 4. For that week there 2~i rl^'4s tL $5,706,925,421 Chicago,.:,——525,846,222! Philadelphia..,«. 1 649,000,000 Bostpn— Kansas City. ' 457,013,270 : Pittsburgh + .<• 'X + 22.5 + 40.4 176,377,474 148,776,750) Wepk Ended /an, 4 + s ^ $8,590,952^631 2,007,389,410 $8^43^309^320^ ;i,830,416,390' 10 —1— live days. +12.4 9th Minneapolis $10,276,725,716 + 2,590,115,666: ,City——i——-rr-— 3,7 $12,866,841,382 12th San Exchange is appended. The * Description*-?S|;ock, number ol I Shares — ' ' r ■ " • ■ " r 1946 . ; 29,833,682 1945 34,150,731 •' 1945 . Railroad & misc. bonds , $120,544,500 ?131,328,800 $1,264,521,Q00 ??,147,723,400 i—— Foreign govern't bonds Tptsl bonds - . 6,743,600 .—-- p..$. government .boi^is. - - 9,357,00.0 80,587^00 744,800 .19,066,150 — Cleveland 106,153,160 264,650 8,108,550 . Month of $127,552,750 ,$141,430^700 $1,364,174,159 .$2,261,985,lip Tjie yolume of transactions in share properties on the New York Stock Exchange for the twelve montiis of 1943^ r.l-X;))" ' Month C ; FSAO ;l No.Shares | No. Shares No. Shares 17.811,394 17,100,772 27,643,038 18,032,142 24,434,084 111,266,707 .March , 99,100,023 62,555,204 -Fii«0 Quarter \ April May . 31,426,715 v Quarter' .)j5)y f01pnths / 19,977,030 — 20,807,082 21,714,249 " 84,852,398 4r-~- 279,672,501 October — November St. Louis serve . Min¬ the City increase of 15.0%, and the San Fran¬ •■;"; 1944 - * : 462,755,111 •<< 6,586,512,495 ' 742,777,905 A.. </: 713,071,097 . 445,938,805 640,914,093 287,018,013 »,%*■ +15.0 - - , .435,531,753 _ 674,445,853 v.;,. <.310,564,475 .230,699,912 293,313,159 A'-•< , - 166,225.078 - +19.8 298,563,964 ... 189,906,549 :<:<+•'6.3 : 1945 309,931,191 + 27.5 • 346,868,623 i • 168,280,911 /;:/< 513,298,984 <:■')+) 5.1-":<V +14.9 v _ 562,266,902. . 11,008,958,612 11,532,339,001 4,716,209,354 District -.by . 5,167,401,272 . 18.9% 25.7%..)) In and - in the the Chicago Re¬ Reserye District of 29.7%-and in the; Minneapolis Reserve District of 30.2%. Reserve District registers an The Kansas City expansion of -38.2 %, the Dallas Reserve District of 30.1%, and the San Francisco T6.4%.;^;/..::< )/.;< ..)•'.<)) f. Reserve District of , V Inc. or r 1S44 , Veq. % $ : + 36,023,962,309 1.4 3,390,082,469' • 1,483,553,531 + 18.9 +25.T 4,552,268,090 + 17.7 1,588,058,858 J- ! + 30.2 1,766,642,497 + 38.2 1,421,455,210 + 30.1 6.6,007,244,046 161,415,497,739 *26,24?,580,250 r '1943 ;; :>• 1.808,187,938 2.4,943,882,698 3,176.627,064 • • 992,294,910 : +16,4 31,509,992,691 "*«<«• 1,451,433,907 2,007,595,608 4,690,765,859 446,586,672 + 29.7 1,112,305,294 t 3,190,499,918 3,065,883,732 <; +15.9 2,153,466,552 ' K 2,077,513,891 30,556,334,640 + 16.0 2,989,623,122 *•• - 4.5 T- 2,253,480,236 2,680,599.571 —184 cities — •; District the totals record an improvement of 17.7 %, 1,849,298,932 <3,119,851,645 —19.; > " Reserve 2,441,577,501 Qut^lde N. Y. City—^ 3,015,563,051 1,290,558,487 1,892,478,443 4,482,193,392 1,399,095,056 1,041,740,846 1,657,634,044 1,295,196,766 2,563,917,914 *1,145,752,162 7.5 54,995,657,861 48,307,975,682 I +20.0 25,271,443,693 24,202,377,392 + 1,716,462,865 2,395,433,680 30,383,870 26.324,332 We 14,251,976 15,945,982: 14,985,690 66,826,195 ■ append another table showing clearings by Federal Reserve Districts in the twelve months for four *{ /A<.-i. ; •' • • •* *},:*< '■ ' Federal 267,530,924 196,261,532 227,046,416 Reserys plstricts < 1946 7 : < ' 17,533,817 13,922,67$ 40,^05,573 18,246,0ii 1st 34,150,731 31,259,050 19,526,660 2d 84.036,811 110,032,651 66,812,486 51,695,349: 18,61^,019 Boston -r New York v - .ll.cities .14/ ^ — — * Twelve Months 194? . iU ; Tyvelve Months Inc. :<<: or 25,475,838,863 344,130,911,099 42,068,244,256 +11.7 22,805,785,448 376,793,239,782 36,269,082,305 33,738,930,780 + 16.0 + The course of bank 7.3 Cleveland —— .17 M 5th Richmond Atlanta L + 16.6 16 18,811,055,293 27,949,126,328 1:16,135,479,617 —— 23,058,225,298 + 21.2 7th clearings at leading cities for the Chicago __—.— 31 57,210,644,251 51,981,362,693 + 10.1 month of December and the twelve months ended with? 8th St. 9th 36,203,336,925 8 Minneapolis December in each of the last four years 10th Kansas City llth Dallas Louis shown below:! < 1943 20,649,344,216 257,143,184,165 33,909,713,332 31,325,719,792 : 14,086,930,417 / 19,040,165,727 ;-48,238,541,687 14,496,406,959 10,588,863,445 ^"18,162,567,145 12,027,997,017 25,630,466,455 19,818,159,868 16,523,154,342 l'.; 12,132,612,601 + 26.5 20,306,522,233 14,965,001,756 + 21.1 28,849,058,671 + 14.7 696,275,043,441 620,896,126,843 +12.1 560,024,469,837 505,299,900,357 330,210,265,793 —IZ!Z—il 12th San Francisco '.;i{^CLEARINGS AT LEADING CITIES IN DECEMBER (000,000:' •—Month of December—— f -——+Jahvl to Dec) 31——— * 15,344,855,341 24,595,026,326 18,915,631,229 33,089,884,979 286,463,473,180" + 15:3 273,675,469,988 256,740,113,979 — - is 21,268,459,948 ' 295,634,593,622 34,551,834,423 33,340,998,527 14,937,431,258 K 21,502,728,044 '52,419,340,783 15,652,439,316 11,049,294,538 18,841,824,932 < 13,457,831,898 27,367,692,548 9.5 + . " 4th ——363,709,312 377,563,575 263,07^,018 '278,741,765, • ' • Dee.% .16 ' Twelve Months :4/;/rI?44^ "'/A' <■)<)<a ));))):<;. ■ Philadelphia 3d years: ' Twelve Months 64,918,607 v 55,561,998 ^5,476,347 ' 19 +19.9 + 26.4 ' r omitted) 1946 «•* New Y<n-k- ' ' 1945 g 1944 ■ 34,497 35,166 1943 1946 g *29,724 ' g, 24,105 366,064 Chicago-' 2,999 2,591 2,217 Boston 1,987 1,934 1,533 Philadelphia 2,734 3,235 1,130 l> 917 3,043 40,138 819 1,154 1,705 1,073 1,234 1,504 1,268 11,261 12,822 18,254 St, Louis__ Pittsburgh, San Fran., Baltimore, 31,913 21,539 • 846 7 736 690 Cincinnati- .703 7 583 49T Kansas City Cleveland-;- 1,296 1,254 Miuneapplis 959 1,046 V" 733 506 7, , .N. Orlearis, 915 424 9,317 13,469 14,834 12,960 12,659 10;856 5,562 4,664 4,027 334 -4,782 108n 336 V 321 ~ 7 93 <2,361 3,444 3,291 4,571 « \ r covers t i ^ *> the clearings by months since Jan. 1,1946 and 1945; l/ • : ^ , r ; , » * ' . - " r- v 'y.' f / * " ' - » ' , CLEARINGS 4,333 3,707 57,592,838,206 3,501 — 902 > . Total lst,Quarter. ' •1,878 3,074 2,491 53,673,338,763 2,412 • i: +12)4 + 9.1 + ".. .Total • 2ncj Quarter,,, 1840 Clearings Outside New York/ixfc:' X -.vi;, 1945 Inc. or Dec. %i 9.3 24,987,200,588 + 6,4 + 10.5 ) 26,715,645,414 .23,150,349,683 26,591,372,184 76,457,367,281 ...70,891,611,144 + 7.9 I" 22,997,145,805 + 12.1 24,730,186,706 + B.O 21,174,223,850 ' + 9.3 46,954,704,831 ir. I) : \ ) + 21.1 :) 25,779/113,057 51,709,917,677 59,338,531,534 le i' vi g6,671,442,506 169,843,264,176 " 151,761,570,196 ' : 52,686,757,947 - 7167,715,169)341 56,312,980,626 —™-4- Jyne 1,734 ) 3,386 Inp. or i pec;% 45,401,473,486 IrXl. ' I 56,858,841,344 April- 866 1,944 Total All— 1945 1949 60,325,652,392 49,796,678,743 February March 17,458 3,742 3,735 -•981- Montha-r January—— 7,056 3,312 ' ' 252 . I 10,784 19,071 ' 3,968 " 1,165 197 .275 compilation 'J H 9,801 7,366 ' 16,472 222 4 -Clearings, - • 4,704 Milwaukee- P^uL-i." 10,065 1L239 11,529 10,364 ' 8,196 15,108 Buffalo » 5,412 - 472<« Omaha .Providence,. >*» MONTHLY 7,543 5,860 » 13,267 -7,921 6,305 The following 12.623 15,743 8,315 Outside N. Y, City. 8,627 374 1,369 ; 1,173 —184 Cities Total 1943 , 9,723 12,978 • 9,215 7,161 1944 ^ ^ .' V,.. *. 334,432 286,348 248,559 27,279 25,710 23.622 19,589 17,767 18,288 34,710 33,028 32,515 483 Detroit Louisville- St. V 1945 + 8-9 4.5 26,296,977,710 26,507,504,386 .<"'+' 7.5 78,583,595,153 73,149,648,325 + 7-4 155,040,962,434 144,041,259,469 + 7L6 — 158,003,154,042 . 402 315 '4,236 Indianapolis 204 v 2,628 2,299 162 2,085 1,678 1,557 1,553 Richmond 524 412 July 5,437 4,518 4,178 3,861 August 3,655 ?.6J9 4,763 1,562 2,450 2,239 September—,,,,, 4,624 1,454 1,445 Total 3rd Quarter. 174,131,375,556 870 832 800 Total 9 Months— 511,689,809)073 454,290,348,308 60,796,475,038 53,199,569,300 -November,,— 57,791,515,304 51,990,711,496 December 66,007,244,046 61,415,497,739 Total 3rd Quarter. 184,585,234,368 '■ 166,605,778,535 + 10.8 Total 12 Months,, 696,275,043,441 620,896,126,843 + 12.1 / * "23,973,433,771 26,179,068,749 -<i'+ . + 9.7 + 1.3 4,592 Denver ,y, Memphis Seattle _ _ ,,, Salt L. CityHartford — Tot. 27 cits. Other cities Total 425 * r 434 213 99 282 406 ; 4,671 164 2,000 ' 83 1,057 2;973 r 2,812 57,382 55,379 49,421 43,137 617,908 556,960 501,289 451,963 8,625 16,036 5,574 5,170 78,367 63,936 58,735' 53,336 all— 66,007 6X415.54,995 48,307 696,275 620,896 560,024 505,299 Out. N.Y.C, 31,509 26,248 25,271 24,202 330,210 286,463 273,675 256,740 " Re¬ Kansas 595,428,622 •r " : + 20.7 i :. -11 -Total ; 23,819,359 Quarter/— \946 Year an in The 42^,519,393 6,493,192,777 ;< -646,271,848 ,.<<■. * +17.0 + 14.4 ,15 _l_„ San Francisco . + 17.1 6th - and 27.5%. $ 9.8 + in the 5,t. Louis 2,059,662,126 1,448,018,047 •;i:K. 29,833,582 December Fourth Chicago ■ Atlanta Reserve District by 13,464,419,023 Minneapolis 20,752,920, rSeptember vi i 43,450,216/ 25,134,916 " 20.7% - 6.9 +.15.1 1945 37 14 10th Kansas City-- 33,553,559 23,415,845 28,219,705 )Nlne Months . the - ; v the JRichmond an jg 1 ■ 68,787,721 ' 92,020,949 20.595,100 Third1 Quarter ; 101,604,706 —- August ' f' ; 83,553,396 13,846,590 In -—f94,820,103 200,704,729 131,342,920171,484,410 July' I — 8th 1^,228,380 ."35,051,545 37,712,751 was 1,763,817,196 2,706,826,148 5,356,049,124 9th. , llth Dallas 28,270,442 32,024,018 of or ,"^L- * Chicago J^th 41,310,246 District + : 5,167,187,840 2,354,339,385 35,509,434,819•? 3,933,950,100 Richmond 36,997,243 21.716,872 in gain of 14,4%, in. the a of Dec. % < 1946 Atlanta 79,463,469 . 30,409,809 ) June Second 51,510,197 34,092,745 . ' District Inc. i : 14 cities 7th 1943 v: ) 26,663,765 " V. J I: ... 12,440,983,577 larger by 15.9%, in are December—r1 Stft 38,995,195 32,612,585 27,492,243 February"— ' < : clearing houses of 7.5 %^ fteserve Dist. the totals 6th M944 : 11 .clearings, having been $66,007,244,- New York Philadelphia :<-y—_y:;; Cleveland - 4th ) No.Shares v of January ' J945 2d ,• 460,970,396 743,223,732 326,572,880 220,591,487 320,580,992 202,098,662 524,275,758 v ,-s clearings for For; that month there Boston 3d I" 1946' , 766,755,220 ' 13,077,678,281 Federal Reserve Districts 1st following:. ' tX^ '. <o ljM6 ia-ipdicated in the Reserve 15.1%, ' y . 17.0%. : $61,415,497,739. fn the New York Reserve District the totals show a loss of 1.4%, but in the ^Boston Reserve Pistrict there is a gain of 4.5 % apd in the Philadelphia Reserve District of. 16.0%. In the ' 1377,563,575 w of totals show Reserve 617,493,608 308,803,076 - 046 arid the 1945 aggregate —-Twelye Months-—-^ 1946* |63,709.312 Ronds;■/.iv:..:./;,, . : : 5,934,747,043 the 1946 aggregate of *-?~-Month pi December-r— . • " City. increase lor the entire body of v ■ ", —Ill cities the month of December. re¬ follow: ' 6, We also furnish today a summary of the sults fori December and' the 12) months of 1946 and 1945) f''' the Reserve 488,555,993 7,461,061,773 . 394,181,975 281,321,848 368,711,029 214,926,486 627,928,996 • 10 , • 850,618,830 J .. " ' w. <' - 710,586,335 361,484,914 539,304,111.• " 10; Francisco Outside N. 0.6 pifr usual monthly .detailed^statement of transactions New York Stock improvement of an Reserve Districts: —17.7 Total Total all cities lor Week— $12,790,010-449 the Philadelphia Cleveland cisco Reserve District of 19.8%. 840,150,820 . " f< 7 - 11th Pallas ^10,658,342,041 " " .10 1947 522,367,809 7,366,095,128 " 6, —— 6th Atlanta "10th Kansas day.—2,131,668/40$ " 7th Chicago- ———ju--17 '• ■H'- 8th St,' Louis—4-——4;. 1.8 + District $ cities ClevelanA^-w-.--——r/r...--—7 '' 5-_ Louis ; ;i >t. ._12 — 5th Richmond 9# • cities, five days— - * ^ , 3d : Philadelphia '4th ■ Ten cities, five days- in the Reserve District has to its credit by Federal summary —L——12 2d \ fNew York + 17.3 135,356,253 ; a FederalReserve Districts • 1st Boston 2.6 + show and In the totals NUMMARY OF BA^K CLEARINGS + 10.5 203,233,695 208,931,505 Baltimore,—. ©ft the District We group 3.1 274,244,000 •v 208,484,928) Clevpland^— ' serve Outside of this city there In<the following we furnish 8.3 161,300,000 303,024,000 week in 1945. ' cities, increase of an neapolis J + 203,958,048 226,500/00.0): • Bap Francisco—- + 15. . 354,391,483 249,944,350 Total ell Reserve center haymg recorded a decrease of 1.8%. 2.8 — . 599,000,00.0 365,519,45.5 * lanta St. same totals 9.6%. the Dallas Reserve District of 6.3% Cent $5,872,435,103 " the (including this city) larger by 6.9% are the week — vttr if' ii-r^'V. X '1947 New Yorki All cities, dne was District the Richmond Reserve District of 17.1% and in the At- 5.1%, the aggregate of clearings for the whole country 577 in the Other District able to give the final are York Reserve District by having amounted to $13,077,678,281, against $12,440,983,- CLEARINGS- RETURNS BY TELEGRAPH . we and .complete results, for the week previous At } T^v, are elaborate detailed statement, however, which present, further below we Fri¬ : smaller by 1.3% but in the Boston Reserve District the Our comparative summary for the week ./) located and from this it appears that in are not avail¬ ends petals: gtpnd; at; $l^,TO,ftlQ;449 same Which they New corresponding week last against $12,866,841,382 for the '• ' able at time of going to press • Accordingly, in the above the last day of the week in all oases has to be estimated. obtain weekly clearings will to issue of next week. our ' v according to the Federal Reserve Districts in the Saturday^ clearings) froi$ all % citties?iof thp ' JJulfed State? 11,; "n appear the cities We cannot furnish them todvNy> in as much as the week telegraphic advice^ from the chief. cities of the country, indicate that for .the week ended be Complete and exact deU'ls for the week covered by v I; -Total 6 Months—— 337,558,433,517 I " :. + 309,764,724,238 9.0 '■ h < 61,831,796,515 X-—.—.— ' <;< • • October ;— 55,676,082,669 50,488,979,360 ; 46,724.282,971 47,312,361,739 ! ' ' +22.5 ■ + 17,7 "28,013,784,302 28,238,211,019 27,407,666,765 22,179,164,191 + 2316 + 20.5 83,659,662,086 67,793,702,57.6 + + 21.2 144,525,624,070 , 56,623,496,372 : - ) + 12.6 238,700,624,520 " + 7.5 23U + 24,159,436,405 24,220,494,480 + 28.7 + 21.4 26,248,580,250 + 26.O 91,509,641,273 74,628,511,135 + 22.6 330,210,265,793 '286,463,473,180 + 11.2 ■ + 21.2 + 25.5 211,834,962,045 +14.3 - 23,116,102,919 22,498,435,466 ■; 30,603,860,383 29,395,788,199 31,509,992,691 - 115,7 + 15.3 statement showing the figures for ea We now add our detailed /•'ft /-ftft/ft'.ftft Clearings atFirst ft '/ft , "46 ; Foruund > Mass—Boston )t ~ " Holvoke ~ Lowell - — t 'ft' 3,602,418 - Bedford— 8,603,288 : • ———— 28,160,302 ' SDrin^fleld Worcester- v. — Haven 99,285,655 : -- —— Waterburv—— V: ' Providence *> j H-.—Manchester——- —. ■ — ft- 7,057,178 . . District—New York— — 59,555,610 11,582,198 336,950,542 - ft'.'ft,''' 6,486,890 Federal Reserve V—Albanv Binehamton"! - Buffalo - '■ 52,709,429 8,724,942 275,411,461 4,791,377 ! ; v ^ ' Bvracuse Syracuse-,- - "" ft—ft.—■ £ jl~MoXlair "T il-. " IT 51,763,155 3 130 582 1> Oranges—-1-T1 "ft 8,023,990 v : >. 8,735,022 981,836,600 ft/ 43,712,066 + 18.7 21,653:300 I 20,801~800 + 34.5 1,126,385 883,594, 886 -ft 121,158,462 3,312,366, 3,444,823,111 •ftft' 66,601,593 58,609, 259 , , 334,432,653, 663 366,064,777.646 V 817,900,525 481,414,414 95,028,103 16.4 702,6x8, 963 + 33.5 77,081,,181 423,623,,237 + 20.9 *•{•34.0 1,549,557, 023 +16.6 38,235,382 2,087,151,,467 10.5 50,969,910 ,/ft v > ft .+ Total (14 cities) . — 36,023,962.309 35,509,434,819 . 9,650^740 ; 776,478" • • 1,940,457 75,211,000 1,016,796 District—Philadelphia vjV -—— v-, + 14.3 Bethlehem 1.8 + 12.7 + 28.4 ; 9,187,368 + ; —— J, Lancaster— •'+• 8.7,/7:> ^.033,631,, 1 'Bs . " Lebanon- .'+ 27.0 Philadelphia" -Z—— Reading ^ > +15.4 3,734,000,000 12,537,027 — —- ; + 42.6 .:•*5,7oo,idu Korristown 18.3 + BO^ " ' Del.—Wilmington N. J.—Trenton : 1,174,511 - • . :1.4.: , .;•/•;• .'X,, V " ' ' _ Cincinnati cleveland 703,107,842 - - — 110.622,900 5,502,059 - ' - V?Sn " """"-1—' Mansfiirdl TlT : Yo u nest own——-— i 3,779,133 16,728,145 23,985,216 r- NeS tt::L - Pa.—Beaver ' ciy"""TTT--- 21,467,711 27,544,795 - : - W." Va.—Wheeling—— 94,275,500 +155,201 2,088,770 13,294,697 19,907,204 14,013,654 i •' 46,082,561 ■ y ;• J; 1,676,710. .ft) r-y • }; + 11.5 : 45,143,540 + 27.0* :| + 142.5 742,391 + .7.6 + 1,073.133,812 '■> 15,274,014 fvi 15,761,504 2+852,608 : V 13,779,631 21.7 + 14.0 - 840,150,820 V Mongomery Miss.—Hattiesburg ; ™'n22 ;>>. . c 36.2 + — Grand Rapids— Jackson Lansing— - — 112,222,091 V 441,252,000 5,437,136,571 >149,598,163 34.7 21.4 + 27.2 v Indianapolis 32.3 +16.4 3,140,134,008 —— Wis.—Madison Milwaukee Oshkosh— Watertown , Manitowoc ' ^22,010,453 139,833,925 + 74.5 + 22.3 2,694,427' + 27.9 3,149,073 5,413,660 2,575,844 213,034,524 3,925,338 + 37.9 3,663,305 , " + 24.4 — 5. Ufi'' Chicago Decatur Peoria.. 3,518,186 49,554,432 ' Bloomington : —- ^ ; 4,313,447 2,999,110,088 7 13,113,280 43,258,448 18,694,668 rf—■ — — : - Rockford Springfield Sterling — — Total C31 cities)— ' ^ '■ - '** 2,097,849. .3,897,270 V, 1 243,016,995 1.2 ' ' l"'' • ~7'u 1 / ''i ... .154,358,574 1.7 245,064,044 305,517,18?,. + 15.1 247,200,048 595,428,622 713,071,097 + 20.0 — + 18.5 141,468,516 + 24.3 :. 710,586,335 7.3 + 79,153,676 />* 364,199,000 • 126,907,121 +17.9 >''' .• 2,019,139 7,018,000 91,573,941 2,770,771 175,947,481 150,79+490 63,320,261 + 20.3 • • 2,422,965 8,344,000 107,928,782 3,521,425 +21.2 4,518,251,913 >• 1 +41.8 5+626/735 + 27.1 +10.8 2,499,266,709 + 25.6 / + 16.7 + 28.2 1,539,762 1,451,503 7,986,000 89,440,295 2,610,527 165,382,279 18.9 + + 17.9 + 38.7 201,798,351 8,315,468,297 ?-/ 30,434,550 + 16.6 + 15.9 \'V 13,748,417 10,984,080 83.898,149 42,673,199 182,000,000 3,546,370 + 27.9 ■y'y, *;ii +14.0 158,182,611 44,806,152 298,563,964; ■■•'■•' 256,821,435 1,759^751 + 10.8 61,644,638 /■; +13.7 20.6 54|32l7624 + 25.2 5,444,671 60,975^185 4,C93,846 106,876,788 282,273 92,411,054 539,30+111 25.7 + • 64,498,524 5,606,098 2+1 396,693 336,185 + 15.6 95,185,042 88,094,014 445,938,805 435,531,753 + 460,970,396 350,182 18,220,975 2,752,888 1,953,722 54,484,045 - 2,132,156 52,791,401 73,530454 5,876,208 5,562,696,408 11,439,666 41,466,610 164,900,000 3,126,861 // +10.0 70,070,021 276,196,676 143,746,764 176,660,000 310,180,043 62,629,165 " 179,300,000 *1,9507000 3,852,015,013 2,457,290 / 14,814,573 38,425,784 + 7,680,000 >,' 309,931,191 34.3 • 43,060,587 +17.1 // 361,484,914 14,751.444 54,596,355 207,400,000 3,900,959 167,056,696 ft 137,463,307 + - -iT.v: : 9.3 + 183,655,066 2,153,466,552 16,009,200 , • >■■:> + 76.5 9,886,400,000 jJ+62.9 +16.7 ' :3,968,701 ' 37,393,681 59,267,387' +91.0 100,899,121 2.2 65,685,103 52,373,096 + 25.4 177,343,013 33+037,836 1,678,568,476 + 26.0 +23.2 +21.9 : 7,123,084 + 6,018,552 17,109,650 'v. +46.7 223,364,568 30,737,734 :.';; + 28.1 409,553,270 +26.1 2,085,160,157 220,951,731 162,235,722 17,864,097 :> +33.0 v; 172,905,215 2,361,036,031 1,944,632,373 + +12.5 +25.5 + 39.1 ; ' 5,545,860 857,415 ' : // 73,302,683 ,V + '. 3,245,558 12,170,803 i 8.4 + 24.2 > 21.4* 8,822,203 4,701,803 10,661,870 50,"l06~366 46,957/761 3,421,381 26,215,431 10,774,171 3,098,667 24,000,347 8,476,587 94+103 958,218 44,577,792!'( 2,759,843 19,183,179 8,252,842 8,843,270 ,? l: + 46.0 + 20.4 +20.3 152,574,863 123,671,052 + 23.4 85,150,290 36,301,512 + 30.0 1,135,120,839 863,510,027 + 31.5 36.5 519,754,585 415,053,542 + 25.2 1,213,552 + 35073~073 33,650T000 5,038,389 11,707,081 36,380,000 > 4,794,476 + 28.2 28,412,433 12,881,417 34,210,337: 43,049~000 32,895000 3,779,370 10,505,451 + 14.0 57,197,006 4,491,154 3,899,351 6,114,359 + 36.6 33,490,300 38,186,079 +36.9 + 23.7 + + 29.9 ; + 20.4 7.3 12,430,175 197,764,989 2,757,176 4,085824 + 27.8 9.2 557,760,012 / 126,56+378 6,075,089 3,"989/395 20.6 + 598,382,982 V - + + + 12.6 5,416,323 + 44.9 + 29.1 202,252,018 49,349,621 * 8.3 "+31.0 15,307,641 V 159,796,095 ;/ 407,086,152 +40.1 .837,850: + 58.5 — 63,461,090 249,403,733 " ' 1 > 16,472,970,864 V 110,248,757 315,301,524 52,623,035 195,080,110 83,806,994 15,108,420,153 705,082 + 102.9 ; t*' 1,173.582,121 :// :> 10,607,683 29,886,250 / 4,515,865 /j •: 6,151,342 1,896,527 5,204,876 111.—Aurora 261,763,137'" / + 23.7 696,204,414 2,651,450,704 849 110,730,298 — 118,115,475 f 17,227,900 + 19.7 133,077,470. . 111,739,379 35.2 '' V'' >*> - 4,770,979 210,820.518 • +26.7+ f:\ '■*. W. + 23.4 3,567,729,662 14,642,891 Ames • > ' ■ 4,219,049 '■■■'■' ' - > Iowa—Cedar Rapids City -7 17,727,200 16,135,479,617 : 742,777,905 ... . 23,974,300 1,483,553,531 6,958,053 Sheboygan 4,597,700 4,703,300 646,271,848 . - 23,765,367 55,554,069 16,148,687 222;457,890 3,773,623 Des Moines 9.6 +18.8 275,759.475 9,215,940,421 39,012,564 10.6 + 14.9 i South Bend Sioux + + 42J) • 25,104,053 39,370,727 204,596,982 Terre Haute 766,755,220 4.250,010 33,738,930,780 + District—Chicago— -•— - - 6,466,870 ^4 1,369,588,023 — 14,863,106 36,820,882 5,503,846 — 29,229,155 —4 Gary 11.4 123,600,985 218,214,183 175,777,256 506,928,996 ^—.——•' :,■■■ >>■' Bay City Ind— Ft. Wayne 5.9 + 6,059,014 jv 2,706,826,148 Muskegon———————• • . + 276,475,431 182,937,010 27.5 + 1,503,000 2,596,405 fc'- ■' 152,497,862 9,571,125 12,978,668,219 156,481,369 ,..191,525,107 t — Detroit Flint I.I+T— 9.8 + 20.4: 16,891,406 12,822,081,942 ^193,611,049 * 209,400,924/ S'SrI'oSI Orleans——————— Seventh Federal Reserve -j *6,300,376 5,127,442 .; 966,773,500 /V: 47,923,331 • £ 30,022,849 ' — Mich.—Ann Arbor ■" jjxtiu .J-' 1,693,808 '■ 2,093,455 + 68.5 "+20.1 ^-362,569 > * ; — Total (16 cities)— ; 423.3 425.3 388,42,.^; j.a,—New ? + 13.6 6,305,149,014 18,493,472 +43,438,114, wwwwtiii'tfii'' '> wn'i 1 H'I.'+'l: *7,202,642 5,709,633 36,269,082,305 }■ •* 503,592,857 + 10.8 + : - Vicksburff 1,749,533 3,282,123 , ' *-■ ,+21.7 287,004,000 ■ r /vt+28.5—' 22,206,080 + 24.4 rU^^ne^::.-=,. ■ 724,OOOTOOO 1,797,890 3,116,407 --T- + 26.2 , 41.4 + 11,385,146 630,874,453 ' ".mesa Meridian——~— 629,0007000 I-,, 2,093,270 2,367,755 101,141,541 {164,078,601 33.4 ^9.300.000 lfiS77 324 - „ Augusta— ; 2,053,371 1,088,072 , 'n i.ji'n ,„■»i./lr .-88,963,386 . 38,405,731 2lS:l?l:lll i—: Ga^—Atlanta——XT— ■ 1,902,982 M ■- 4,128,997 2,641,558 3,990,773 + 80.9 + 1 DistHct—Atlanta—. Jackson "+2976 fvlC' + 34.0 227,590,441 57,364,040 + 1,763,817,196 A.a:-B,rmlngnam 2,185,769 .1,276,490 - •••p + 54.3 11,529,428,883 —30.4 2M 739 Total (8 cities) ... v "+"975 274,104,099 + -* ■ 3,537,557 Z9o,322^+ c.—Washington—. federal Reserve y'^ 3,082,487 295,776,677 173,980,052 ; .272,382,763 13,750,585 , Frederick——-————*-—— ■: Sixth - 2,087,801 7,161,137,224 12,659,390,495 20.5 Md.—Baltimore—84®-g84,73» P. I 748,000,000 1,148,663,800 + JaSSnSftR . C.—Charleston r I,, , *3,221,493 v 42,068,244,256 + 25.8 «,662,000^ Va.—Norfolk Columbia—- 1 + 32.5 . —- in 2,831,815 > Richmond ■' 'in 815,000,000 359,859,752. 327,205.000 17.3 + District—Richmond— * Va:—Huntington^—— f IS rao noo S. • £!?;! 'Xi +26.2 '.1 58,012,095 ' iii .' + 32.4 + Fifth Federal Reserve W. 739,890 164,256,838 2,989,623,122 3,464,419.023 — • 32!0 + 19.8 . 17,574,710 —- Total (17 cities)-— 555,309 + 24.0 + 25.0 14,456,930 20.4 . ui8SJ Kv—LexingtoT--- + + n'JoO 000 —— —gh ou 6+469,368 . County- Greensburg v. 15,626,895 • : —— 20,344,349 583,777,093 " 1,046,463,422 1.254,173,976 - --— /SaSnn 26,862,240 V V : Vrniumbus 668,807 + 31.1 >>:>■:>.;>■, Besefve* District—Cleveland— fourth Federal - ' 631,211 + 70.7 623,293 + 15.6 . t + 16.0 nhi/v—Tanton r '•'lr -.1/ 437,180 . 3,933,950,100 ' —.—• 32.1 ' + 26.4 . ( 772,927 34,710,000,000 101,040,266 ? , 6,586,512,495 6,493,192,777 1.3 — 750,218 ' +28.7 , 471,204 30,927,330 50,137,659 29,506,097/ 46,887,277: ; : />... / 573,198" > 4+831,000., ——— Total (16 cities)- / + . 39,403,141- ■ 104,426,587 + 20.9 —-— ; / 33,462,687 >5:142,98+676 : + 38.9 Q3Q 298 37 40,861,898/ 6.9 ' 7.8 v.+12.8 5,058,805 ;> "V Hazleton————:—---- 2.5 105,288,757 126,295,494 207,359,247 ■ 110.5 + r + nS + + 163,530,602 ■ 40,138,000,000 + 34.2 + 29.5- Wimes-sarre 216,069,258 135,46+731 42,294,597 52,190,680 + 20.9 7,468,517 . 477,526 + 34.5 + 3+6 7,461,061,773 , 1,280,426 +47.5 ' 3,859,852 — Harrisburg 8,210,121; 7,432,128 + 17.7 /■7,;'v 46,058,467 V 43,664,350' + 18.0 3 859 852 Chester- : - . 35,765,359 52,743,853 47,223,006 + 95.2 4132 617 1,383,075 1,163,203 \ 6,364,937,729 15,214,051 v-.f'!■>•/■ 1,173.527 ■ 6,292,749,158 / 14,611,412 / + 39.3 50,248,091 / 3,605,522 62,249,000 — 577,284 29,058,147 1 .. . 27.783,084 25,962,031 ••:•■'' Third Federal Reserve 7: 427,519,393 , Pa.—Altoona 1,070,710 + 10.0 ^200"47+ - 1.4 — ■XX; 462,755,111 v + 19.4 59,017,,420 ■ ft'; 7,366,095,128 ; -18,1467700." + 23.3 25,391, 953 34,035,065 1,806,264,823 2,306,206,274 70,445,582 + J7,168,291 I + 20.2 , 360,578, 023 ft 512,343,844 % t . 6,536,821 —17.6 • 9.5 + ' , 24,496,137 ' ^7:7W7l7|o97|400 />77/>/.;V828,649 + 80.8 9,865,879 3,489,169 59,621,656 .1,284,031 /> 1,167,215 1,649,873 ,/• s ', 1,184,451 %■142,931,238 - '.■ 7,273,795,737 17,334,451 15.385,251 10,875,117 8,468,419 ... 6.9 + ' 2,826,628 + 13.6 + 19.3 —1 + 2 ; 1,268,321 71,073,518 4.0 + 65,826, 100 r ft 78,537,060 , 662 "+"*378 488,555,993 17,837,762 + 30.5 , • ft , 522,367,809 +• 1.1 92,841, 262 893,703,218 , 'ft +11.7 ft ■- 4.5 + 'v. .3,478,164 ; 17,845,308 + 28.0 >', * 18,384,116 23,528,686 % 9,128,683 ; 5,286,289 * 3,648,102./ + 18.8 & 1,220,218 5,792,018 1,345,355 ■ + 16.1 4,501,158 +21.5 'ft+10.9 6,023,429 < ; + 16.9 • 7,041,385 .ft:ft,' ——• „ ; +24.5 12.1 rft ftft. 15+692,355 223,532,648 .ft/ft 201,596,487. 173 360,167 . No7thern"N"jlTll : 32,492,233 5,347.229 ;■« ft+24.3 • —1.9 ft .+16.1 +39.1 ft 66,953,087 5,777,978 6,709,385 + 26.7 ' | s!', "742/768. + 18.0 1,165,560,900 58,788,611 U" + 10.5 .ft ?ftftft 36,234,268 : f +42.9^ 2,891,338 ^fc+ 8.3 ft 8,863,984 - sTamfo'rd r«nn 77 727,629 45 183,256 — ■ — ft- + 23.2 22,805,785,448 937,052 •\.V7T'.7 "+12/7 94,488,900 ft //1,100,612 ~ 572~076 ft/ 361,774,827 25,475,838,863 +025,537 394,590,143 1,416,514 117,646,100 7.8-' + - £■' 1,087,373 3,865,181 64+723 > ftft 449,643,882 -'1,057,563,984 '.1,007,773 368,337,656 1,671,532 + 26.2 ; _." • ■ + 30.9 1,377.022 , , $ 5.8 + • + 24.6 181,194,390 870,180,672 229,524,651 +13.0 +32.8 +22.3 ft/ +35.4 ,irXj^^^^K^-:^3+497,251,355-,v^ 135,166,917,489" '• " I York Rochester" 35,831,562 + 3+7 ; 7.9 + • 1,802,134 + 30.8 ft 30,831,752 ftft 28,400,110 ftft 73,043,501 258,105,721 91,000,368 317,912,000 .V +10.0 . 61,444,007 41,53i,100 * ■' ; 19,589,725,425 80,346,999 S, +34.9,:,, 9 6,500,424 7,005,418 New 3,910,473 445,296,957 1194+ ;; ■ % + 15.4 1,429,574 3,395,145 420,837,267 1,542,322 +18.8 -ft. 2,253,480,236 ' ft ftft- 4.5 ft —- - Flmira 5,232,824 • 2,354,339,385 cities) Total (14 + 48.9 177,549,334 21,539,922,510 38,906,112 +■ + 4.5 11,065,400 ft>. / 'ft 9,893,700 .ftft +11.8 108,828,300 vft'ft. 93,177,200 * + 16.8 ' 53,498,143 210,891,672 +19.1 83,361,129 : Dec. 1945 ; Inc. or -< ft/". 79,674,524 ft\ —Week Ended Jan. 4- 1946; ,■> Dec. % ■ 40,642,558 -ft'VV ■ — H. Second d?c.' % . 21,425,420 . Conn—Hartford---—-T n 7,386,806 4,093,992 ' — —— —: Inc. or 1945 ft >: Jan. 4 for four years: ended the month of December and the week -Jan. 1 to Dec. 31 5,83+150 . +29.5 16,900,756 +11.8-9 1,934,698,286 , ft / + 2.7:9; ftftftvv 5,858,738 V; +26.1 -ft.ftft- 3,339,542 /, ;.. + 22.6 , ■ >■ 2,783,243 9 +29.4 , : vj\'' 6,936,263. -.ft +24.9 v ; 26,478,353/ .! + 6.4 ft ..ftC; r 20,079,940 ,;ft.+ 6.7 9/ 7,554,244 , ——ftft" 1,987,674,907 - Fall River New ^45 '-ft '/>ft- 18,898,917 - - ch city for — Federal Reserve District—Boston— Me—Bangor New Month of December Monday, January 13, 1947 FINANCIAL CHRONICLE THE COMMERCIAL & + 39.8 18,853,295 13,120,882 + 10.4 + + 9.2 27.1 2,313,114 15,752,493 7,226,940 710,227 672,418 + 13.6 50+523,101 520,570,000 + 36.1 + 31.8 + 23.6 2,118,039 6,318,983 2,552,627 1,861,172 + 14.7 1,872,199 6,340,05T 2,572,950 2,152,937 + 14.4 640,914,0.93 674,445,853 + 43.7 + • 4,372,106 / + 19.0 55,341,195 •42,218,437 + 31.1 3,164,954 + 36.3 46,555,954 35,051,363 + 32.8 +15.7 3 +913,597,103 27,279,588,024 111,869,151 +17.0 2,59+299,807 8,795,640 33,109,326 13,552,528 11,156,183 1,584,984 5,356,049,124 142,253,416 438,151,829 + 27.2 17.7 372,220,283 « + 131,548.000 + 4+9 + 37.9 - 186,669,912 +23.2 14+363,802 16,454,154 115,340,891 12,295,922 + 22.6 47.7 +17.7 57,210,64+251 5+98+362,693 + 10.1 + 1,073,495 4,552,268,090 49.1 + 30.7 + ' ' • 660,242,323 2,895,080 9,059,906 4,102,320 3,097,275 581.324,205 : 2,127,533: 6,875,322 3,318,831 2,700,228 , + 33.8 850,618,830 743,223,732 ■ Volume 165 Number 4559 THE COMMERCIAL' & FINANCIAL CHRONICLE J.- '1 249Clearings at— -Month of December1946 : -1945 ;r.>-v-V* $ Eighth Federal Reserve District—St. Louis— ' Mo.—St. Louis— 1,130,498,388 \';y 10,015,053 , , ~ ; .•'• yy """" ■ . Tenn.—Memphis.: III.—Jacksonville Quincy V Federal Reserve b v'V' ; . Falls ; > ... 4 D.—Aberdeen.— Sioux '* Falls———. Huron " -y Mont.—Billings l. - / rr• . ; v- V • City—— Joseph, .. • £ Carthage_J<-.»--rJ,^—. 1. : y + 19.9 <; + 21.5 71,820,373 76,b83,925. + 37.3 44,481,275 48,372,550!' UMTuo 394,181,975 ; " + 326,572,880 y. +31.8 •* - ' + 55.8 : 38,237,000 y „ +64.8 - 4472 " +31.9 \l,386,409 • 2,441,577,501 . . El Paso—-—— *. ' ' 106,196,717 +28.2 ' 361,802,016 ' +56.8+ 30.2 ^ . U ; * +"1178" 4273067768 59,252.56 On 5,668,849 .4,563,962 + 24.2 3,507,753 3,721^1 V 1,747,801 + 44.6 1,601,581 1,684.5764- + 21.4 2,528,085 + 26.2 *12,126,048 - r + 39.3 " i : . 16,317,395 2,631,109 1,988,418 32.3 1,422,554 1,418*955;. 6,9187338 5,8357231 "+1876 3,9767447 5,32611987'' 281,321,848 220,591,487 + 27.5 " 189,906,549 248,878 B:' 346,477 4,445,415 72,127,692 8,302,432 88,267.145,. + 26.1 2,257,841 .7,224,737 15,567^14^' "+Ti75 198,0097337 225, ,072*680- 41.7 6,627,957 +46.1 v + 26.5 7 ■ 394,699 : 387,626 5,635,875 92,776,611 : ^ ;-v u»l -m i 262,274 + 50.5 436,826 —11.2 4,188,721 77,577,751 + 34.5 , vl '•50,959,548 10,856,496,778 338,655,156 11.436,062 821,791,304 - 15,277,498 4,764,839 .9,330,455 '■ 389,122,272 ; + 19.6 > 3,521,532. •; 8,735,5711 f : •/•: L——— 218,634,276 6,166,810 243,852,562 ' + 35.3' LV 7,401,411 " Arthur. :-V Wichita Falls 928,693,617, 83,346,466 64,686,564 4,236,435,499 —. 3,299,325,563 54,612,927 73,557,776; 24,595,026,326 Wash.—Bellingham. + : Seattle^.. .Yakima; ; . + 1,336,684 "'+21.1: 1,051,909 " 174967107' 20,306,522,233 773397482 368,711,029 + —, ©re.—Eugene;.-— , + 29.8 ' + 37.9 3,072,011 28,267,275 + + 27.1 320,580,992 967,104 +Tl".7 - 1,057,721 + 15.0 ? 9.2 + - rioaTm! 293,313,159 +18.9 : 346,868,699- *— ~ +63.9 ^ ; +26.3' + 14.0 ; Pasadena— —— Riverside————— San Francisco ; Stockton— Total. (19 cities): •Estimated. +47.1 ,V +13.9 +28.4+ 26,248,580.250 ; ' v, . 18,945,248^."' .;.7; 16,573,539 3,771,000 4,305,000 +28.5 5.6- •2,400,000 2,108,953 -7,055~47+ 214,926*486 5. 202,098,662 * * . '.+• 'i -1 v> *, ^1"^ 16.4.:; v \ v, 92,014,380 V. 4,012,892 . *+51.8 1947 TO JAN. 9, Noon 44,070~372 6.3 81,625,415 2,739,987 BANK + 24.4 31,411^451 ■ + 42.3 5.9 — 123,132,399 7,827,646 + 23.2 5,981,543 . +30.9 • 8,712,396 +11.9. ; + 45.5 290,484,813 85,197,298 5,299,260 OfflciaL.; Free— >297733* /-•••• . ' + 28.3 15,743,086,582 15.9 + 383,052,777 + 27.5 125,196,638 : \ 5,977,578 6,686,693 + 39.1 289,946,914 364,048,521 9,689,131 3,297,127 + 26.4 ; - 314,913,012 : '• 6.883,745 y + 15.6 7,110,179* 2,651,872: 5,472,581 " : - 294,237,000 : +36.3 • ".■,::-+.24,3 :r+14,7: 627,928,996 + 12.1 286,463,473,180 s 524,275,758 12,440,983,577 5,934,747,043 5,167,187,840 j *u TARIFF ' v v i .V'■■■ 5.1 11,008,958,612 4,716,209,354 . Jan, 8 including .297733* .297733* .297733* .251247* .251247* .251247* ;V .251247* 3.211616 3.211616 .022791 .022791 .022791 .022791 .022801 % .054403 .022791 .054404 .054404 .054404 .054405 1.000000 1 000000 1.000000 3.211616 5,167,401,272.. 1 imi». those called under sinking fund provisions*, redemption or last date for mak-v ing; tenders, arid the page number gives the location ^ which the details were given in the "Chronicle.". The date indicates the ,NOTICES OF TENDER* * , f .297733* 4054177 1 . .251247* 3.211600 —— ., Poli-New $ 3.211116 |: Company and Issue— Date PaganEngland Theatres, Inc.— 771st mtge. bonds due: 1958——---.-—^————-Jari 22 '7.I34191; Roberts & Oake, Inc., lst mtge, 6s, due 1954 —-Feb 6 * Shenango Valley Water Co.— ' * , ' ' '1st mortgage 4s, series B,. due< 1961——— ———Jan 12 •• *7 "Tennessee'.Coal, Iron & RR. Co.-^-r v ■,,, ; General mortgage bonds, due 1951— —-Jan 27 ; * ;■ Jan. 9 $ ,11.532,339,0011 . V Notices < Jan, 7 11 «— n' * i.u Below will be founcl a list of corporate bonds, notesj preferred and common stocks called for redemption), 1930 ' iii 'm* Redemption Calls and Sinking Fund - OF ACT —r~ l.i 562,266,90a.. yV 512,699,084 +14.9 + 6,127,4577 2,551,247" v4,191,706( 2,340,702 5,48Q,775 7#);. 1,7' ', +19.8 y 13,077,678,281 + 15.3 • UNDER 320,51.8^93?,: . 7,285,287 ; • *+25,8*i - . *;-i:;.-„...5,84i,83^( •• , 11,519,359*" 7;iyv» V'S ;• 28,849,058,67i; 620,896,126,843 . .297733* .251247" Australia, pound Belgian, franc Brazil, cruzeiro— V * ;; TREASURY $ ' 76,746,601: 33,472~7i^ ; + 42.6 483,774,179 :^ Jan. 6 $ 7:2,527,848)- ■ 1947, INCLUSIVE Jan. 4 98,769,12^' ■ 74,166,711 "+4+2 + 45.7 164,693,562 ^ TO ; " 330,210,265,793 * $ 168,280j»iT; 166,225,078 + 20.4 - 30,530^547 . Jan. 3 J v ;; 1,685,93.77 -t"—A • ;;:7L862^9^, + 17.1 + 28.0 Buying Rate for Cable Transfers In New York Value in United States Money Country and Monetary Unit r,797"670 v 15.2 93,341,782 1,562,306,561 399,492,150 145,047,507 "357,970,845 : \1 v FEDERAL RESERVE JAN. 3, 3,660,009* • - + 10.8 76,426,533 3,349,619 •1 3,830,124,004 v - 696,275,043,441 + 20.0 . CERTIFIED BY w i|M18.67| +36.8 109,333,600 33,089,884,979 7.5 1.9 S + 24.8 > RATES lMHSJir i 3,042,000 + 30.9 — Foreign Exchange Rales EXCHANGE 139,ib5ToOO.S; 1G,420;174 : r+"L8 +26.4 3,018,313:, 'it; 134,335,000- '•V . + 13.8 7,"l837l59 +22:7 Pursuant to the requirements of Section, 522 of the Tariff Act of 1930, the Federal Reserve Bank is now cer* tifylng daily to the Secretary of the Treasury the buying rate for cable transfers in the different countries of the world. We give below a record for the week just passed: r . + 14.3 —— POREIGN 3,711,561 ; r + 14.2. +21.1 ^ ' * , 1.8 + "> r - : +21.5 49,362,448 109,300,846 18,254,462,722 488,306,290 174,188,845 V, 366,524,263 - +18.6 + 1 f + 13.3 . .. 2,680,589,571 . ; 119,178,258 • 455,394,163: ; 179,170,228 + 37.5 ,27,104.781'• 31,509,992,091 + 167,480,000 •• ■"• 151,615,376 206,391,959 234,862,404 J +17.6. , 61,415,497,739 tNot included in total. > +20.4 46,639,513 4,763,385,910 582,135,173 +74.9 3,119,851,645 — , +46.1 66.007,244,046 Gran4 Tjotal>,(184 cities) Outside New Yolk- 34,797,326.,, i *+29.7 V 2,000,035,781 ! + f :V+.':'3/5y . San .Jose— Santa Barbara '*+24.7 • v 163,087,694 74,932,000 i,412,420,131 +41.7" y « . Sa +29.9 s . ; ' 4,671,366,464 ^ 189,177,152 : • +2C.0 "A- 4,383,648 - . Modesto— 5,109,691 ■■t-'i-; i' 176,889,000 + 30.1 14,965,001.756 60,824^419 - +:6.8 ? • Berkeley-^... Long Beach 5,204,079 +10.9 ;' + 31.0 - 18,915,631,229 - Calif.—Bakersfleld 3.210950 - , , , Canada, dollar— ,, . , , , Official— ^ 1.000000 1.000000 .950781 .950468 ■ .951953 Colombia, peso Czechoslovakia, koruna Denmark, krone England, pound sterling France (Metropolitan) franc India (British), rupee .571400* y 571400*; 4 * .020060 & .208693 - r - ; ; . 1.000000 _____ Norway, krone ;; Portugal, escudo .205862 , Switzerland, franc 3.224000 .301617 -.205793 1 201612 i .201612 ,040501 .040501 .091324 .278185.. 4.005000 - .233629 ^?,(B583'00* ,!y: .562716*\' y; v; ".658300* .562716* v .233629 - .091324 - iv.y .278192 .233629 4.005000 4.005000 .278192 4.005000-; y;"'!; . .' '- .658300* ...562716* .658300* , ; • .562716* i: .233629 ;*••* . , . .658300* .562610* ■ . bonds, mortgage 1st mortgage 3 %s, 2%s, SVas, E, due 1996-Feb . - , bonds, series D, due 1962 1 #9;'•"' > . Mar 1 11295$ , , series E, due series G, due Union Terminals 1st mortgage 1st mortgage ser. RR.— 1969————Feb -1 1974_u—————Feb I Co.— K 29557 ••'12,908}- series A—— —Apr 1 7 '70*;' _—_—Apr 1, ^ VO>! /f; 1st mortgage 4"As, series C— Apr 17(hCornell-Dubilier Electric Corp. $5.25 pfd. stock, ser. A__Feb 1 H34l2tii • Food Fair Stores, Inc., 3 "A % debentures————Feb 1 7A Lefcourt' Realty Corp., prior preferred stock —Jan 15 11329^; Little Company of Mary Hospital— v1 1st refunding mortgage serial bonds, ser. A due 1955_Jan 15 $3292-; McCord Corp., 10-year 4"A% debentures, due 1956— Feb 1 75-4 Missouri"Telephone Co., 1st mtge. 4"/4S, ser. C, due 1961_Mar -1 7i^ 5s, series B__ —: — /.040501 ..091324 ? v y.562716*; v,201612 - .040501 . - iU' 3.223833 •Vy;a201612";.yt-, : -... .233629 A y *v mtge. iV*% 1st Cleveland .945625 i i 3Va% Cincinnati Union Terminal Co.-* vy-yw 1.000000 . 3.224500 ;; .218192 ; .658300* i i'-.y •' and improv. mtge. 1st and ref. .377893 r$.;: .945833 ' .040501 I: .091324 4.005000 yy:;,,,;.y S 4 y-278192 , : ?; • .201612 . ' -.091324 4.005000 y; y >040501 .278185 Ref. Chicago & Western Indiana ; ' . J 1.000000 . .947500 ; 3.224500 .201612 : .; . Date ;-»,:Page«' Algoma Central Terminals, Ltd.*— ' ' '' 5% 1st mortgage debenture stock & bonds, due 1959_Mar 15 H313T Brooklyn Borough Gas Co., 1st mtge. 3?/2S, due 1970—Feb 1 v " Mr Bush Terminal Buildings Co., 1st mtge. bds„ due 1960—Jan 15 A3139; Chesapeake & Ohio Ry.—L .205793 .377893s " * . .008408 .301642 * *' - : 4.029921 .008408 > 1.000000 . 3.224500 , J. .205823 .947916 y S- .208693 ' 4.030625 .. •' .377893 1.000000 .948125 3.224500 • . .233629 Union of South Africa, pound .948125 * - .301517 ,377893 . ; .377893 ,091324 , Bpaln, peseta— Bweden, krona rate. .; fCoftipany and Issued .020060 ; PARTIAL REDEMPTION ' -y >571400* .208693- .008408 . , .301517 1.000000 .949375 r .,_ .208693 4.030625 .008409 - ;r\.yy;.,-y s- Free^ New Zealand, pound Uruguay,peso— 4.030625 , .301517 .205879 ,377893 ; - • - .948203 .020060 .571400* .020060 . .208693 .008409• - y .205879, . 4 ■ .208693 • .301517 Netherlands, guilder , , yy.571400* .020060 4.030625, .008409 , .950000 .571400*; ' .020060 y:•■'.» 4.030156 peso Newfoundland, dollar— : 1.000000 : Free—, •Nominal 1,09575f/7'" - - Salt Lake Ctiy Ariz.—Phoenix Controlled,— NoncontrollecL ; .7 ,193,pb3 -t- . 409,802,003 « " 324,480,108 11,270,352 ; 9,889,912 213,891,733 164,669,516 55,844,128 -39;424;510 25,893,320 ' ;»-14,807,490 •^•••i-24,319,547. 16,643,812 : 38,114,258 36,827,631 16,602,093: 12,071,984 y , 32,128,139 27,331,653 10,669,863 7,251,823 1.705,085,148 1,504,838,570 • i. -44.112,343 y 37,194,599 17,138,581 15,040,987 Utah—Ogden—— 31.0 + 30.1 12,591,746 ; + 69.6 ; , ' " If:'+44.8 ' ■ - " +'31.8 1+29.9 f "5 172,913,467 f: 111,634,557 . . y.;4i643,646 ) 4,253,431 434,342,474 'i; v y 406,520,288 18,152,074 yy V;- 15,273,074 15,861,617 123,853,619 ; + 35.8 ; ■ f ::yy:7;l83.oooy-y-«;- : 8,688,884,984' 6,634,513,795 > ; 785,480,728V: ;; 603,983,310 1,017,172,518 t U815,509,313 "217,707,000 : 167,896,000 7,204,760,494 5,982,318,015 53,340,956 43,887,046 120,594,419 "'93,821,333 43,138,081 ' 35,152,982 367,348,459 303,371,938 +44.2 1,421,455,210 Frandsce-r 293,349,971 V +27.7 . y Official 3,089v59«,, - + 36.2 - 8,506,221 , 42.tf + 9,629,511 661,452,567 59,452,832. 73,312,206 16,073,000 539,647,743 3,740.232 1;849,298,«32 n ; . . Total <11 cities)— Ida.—Bol se____ 18,301,612 99,526,695 21,188,1)00 700,912,396 4,855,384: 11,730,542 "4,446,82937,024,107 . Texarkanai^u—_ La.—Shreveport Mexico, 272v8IO»» 356(000,. 4,845,847^ >■; — . ■ + 38.2 + 35.6 . <^'408,253,806 V 230,699, •' fy■ * 1 69,601,842' , vjfr«?■ ..224,478,872 3,968,187,454 14,047,356 ; 14,749,392 185,948,461 12,960,205,572 ?; - ' f'/- 12,031,524 21,537,780 14,307,206 258,544,699 454,828,658 - / + +28.5 • ; •rV 12,132,612,601 271,872,724.: 4,782,245,788 f " 5,638,536 . 85,754,610 ——.. Port ' 4,475,49^. 154,82Q;62L + 45.0 -.272,113,896 ..-.,+'33.0 ■ 15,344,855,341 + 43.5 1,766,642,497 •. 56,487,939 i. . 76,345,272 y -6,565,624 ,319,281,557. ; 4,535,094 132,556,952 +38.3 17,192,922 ' * : 0.8 + 34.7 + :+ 38.5 96,453,746 >82,639,496 134,313,446 +43.1 >••'•• 4,669,776 145,298,360 " 24,922,096 ■. 1, 26,089,123 yyGalveston——-.1. [i Houston.—— ■ • " . +43.8 1,477,562 1,078,267 .19,219,276 1 32,500,098 ■'4\& 5,378,445,1 915*007,059 .30,939,155 1,069,932 r 13,112,288 844,658,952 Worth. Argentina, peso—* 310,56474757 •_ - ♦% 1,3087*MO< 287,018,013 . 631297219 • 27.2 27,783,502 93,285,349 KWi 165,462,836 i?1 * 208,857,769 + 34.2 . 1334,746,465 . .7,425,326 402,654,520 y 6,401,605. ■ J .-yy ... Beaumont^—- v 771167365 . Eleventh Federal Reserve District^ •Dallas— Ft. 184,200,000.. +45.7 31,485,000 38,788,481 129,049,652- ' . *7L2O46S?L54 . Li" <f5'$IUes)i+L. T»r«»—Austin • 169,600,000 + 20.7 •-•,.;//+ 19.9 195,061,030 ■ • - 4,705,170 195,741,058 +25.2 6,607,865 y; + >" - 26.5 +40.2 • • 30,709,230 9,626,294 248,040,446 - ' .v 2,628,484,727 ? +18.6 + 34,008,823 .. yy -36,805,442 » . > 246,742,338 8,196,279,409 v: 3,291,215,972 +56.2 , -•• 292,748,507' 10,364,448,478 47,676,977 ••;,:*;+ 34.0 1,209,994 : , dr; ^eblo^.^i-a.-rl-^^. ; 75,842,569 51,271,201 v 1,"671,519 + 15.4 "jttvi &; 102,051,077, Colo.—Colorado Springs. y' Denver^—— , + 16.0 " : , +26.2 + • ," 1,112,305,294 -. " Okla.—Tulsa \ " • 1,777,925 10,142,659 6,725,348 28,180,423 - : 24,125,329. 44,332,404. 6,368,020, 1,296,436,531 46,164,007 .1,562,868 ; Kansas :• ; 26,797,121 472,018,826 2,116,982 . Mo.—Joplin— i I 198,300,000 92,123,627 •70,386,829 + 39.5 16,523,154,342 fc, ,L , Topeka— '* ■■■■; ' 1944 $ +36.1 61,588,903 : 19,818,159,868 +12.1 r ... Wichita— Tbtal 1945 Dec. % • +16.8 .• Lincoln—-_1 Omaha,— •v-, . 230,000,000 + 45.6 Pity—*' y Parsons.—. ■ ■ 1,736,47^ Kans.—Manhattan.: . ' '•1,448,018,047:. 't Hastings—— v. Week Ended Jan. 4Inc. or 1946 + 40.3 9,389,583 71,061,616 +30.8 2,983,088 632,030 18,908,732 2,645,000 2,291,665 7,759,006 16,362,830 ; 9,625,514 Neb.—Fremont; St. ; + 29.7 36,122,384 V y ,v 1,292,815 : 4824,355 Total <16 cities V. .' 1947 $ 4,027,814,182 2,619,917,061 . 13,670,867 ;■;•• 3,205,220K y * + 27.8 252,350,854 ;<::>yv+27.6 - *Tenth -Federal -Reserve , i;..' + 47,0 . 23,921,897 733,594,262 J Le wis town.——.l. 1 5 ; : 14,586,219 Falls—-__ Helena—; v or + 15.8 . 10,823,457 4,704,192,696 3,655,102,172 v . +51.6 . 9,723,814,872 69,806,284 , 14,725,766 + 29.2 -"* - Great • ' +49.0 + 50.4 1,588,058,858 26,819,454 D.—Fargo.i—,— " v, 5,297,539 • Minot •. / +43.0 /. 282,701,893 965,305 ^ 959,682,5544,096,607 321,905,028 -3,7.63,542 987,179, 25,328,249 3,486,000 3,569,512 • 12,787,846 21,579,423 ' * 2,385,721 ' ; < 11,261,483,960 97,922,791* ;" • - 966,635 ; ; y Grand Forks > Inc. Dec. It * ., , . Paul Fergus N. ' $ ■ District—Minneapolis Minneapolis Winona + 23.3 374,000,010 2,059,662,126 Rochester——-J..; r 1945 ■; "$ : " > 7,785,754 */ ■ St. - 1,440,388 Y J. 4. Total (7 cities!—. . 1946 Dec. % . 917.123,320 ' 7,004,156 " 483,165,876 425,293,230 • '»1,463,437 4 — Minn.—Duluth Inc. or $ __ Cape Girardeau__, Independence— Ky.—Louisville Ninth -Jan. 1 to Dec. 31- , . Northern 1st Stales mortgage Power 3"As, Co. due, (Wis.)— Washington Terminal 'Co.— *"* 1st mtge. 25/o c/o bonds, series A, Feb • due ■' - 1964——— 1970 1 .. 11) «.•: Feb 1 I333J9- 1947 Monday; January 13, CHRONICLE COMMERCIAL & FINANCIAL THE 250 ISSUE CALLED ENTIRE Eastern Ry., 1st mortgage 5s— British & Continental Corp.— : 5% gold debentures, due 1953— —w Algoma Page Date Mar" 1 and Issue— Company A1325 ^_ American, day, Jan. 8, 1947: II2281 Als?a°nd refunding mortgage 5%s, series A, due'1957_Feb 1 113138 Aspinook Corp., 6% 1st mortgage bonds, due 1948— Feb 14 113282 Broadway Motors Building Corp.— • * ■. • 1st mortgage leasehold 6% bonds__^^.__—-__-i.--_u._Feb I-,. 68 Butte Electric & Power Co., 1st mtge. 5s, due 195lL.wA.ny time 112142 Cumberland Gas Corp.— General lien 6% income ' , 1st mortgage Distillers • • 1(3292 1 1955—u—Feb notes 8, R. F. for fund j .k,\ t> v - loans 520 —. —— securities: 2,866 36,174 + 21 — 15,129,335 7,494,512 355,300- ———— <£/':*• • ~K,'i-ry Condition Statement -V \ United States 304,352 + 4-0,'563,146 1,500 —1,315,999 —1,179,800 -4' 193,502 — 466,710 95,381 : 6 4,419 Federal Reserve notes—— $319,000,000 at' al! reporting Total ' ; . 000. - . A summary Capital Accounts— paid in Surplus (Section 7). Surplus (Section 13b) < 1 ^ of the, assets and trial make to +' .5957931 > • ■ 9,370 + 790 81,468 +T; ■" *.254'" r-jr- 45,175,863 " . R7 43.1% - 0.4% — A 'J"'- -g V;,* ;g 0.9% + gg 1,229 + 7,776 + : 0,565 + 78 8,231 r loans Dec. 24, and5 Investments—total ' 56,153" * . 16,694;. . 20 Name of Company 226 — 10,269 loans' to brokers dealers for and 4 434 ' i + certificates" of lndebtednessir.w— '5,202 3,039 Treasury notes. U. 8. bonds- (Including: guaranteed . 26,'902 obligations) 3,430 Other securities. Reserve with-Federal Reserve Banks*——.. 10,111 Treasury banks... . 468 iff 588 241 319 r. : 4,997' 25 — 50*; ;+?• -14*" — — + 2,234' 378- + +' — 24 + 114* — Liabilities- Demand deposltr adjustedi— Time deposits ; t.B. Government deposits. Interbank deposits? Domestic banks— — — 9.442T 1,271 6 ; Borrowings to* demand deposit accounts* except interbank, and U. S. Gov't accounts; Dec. 24 18,395 figures revised (New York District) 7 555 155 46 ; 106 29V 361 + 2,9i5 +' 1,018 (quar.)!.. common (quar.). Clayton & Co. (quar.) — Anglo-OanEadian* Telephone-Co.— * * " " 4V2% preferred (quar.) ... Art-Craft Briar Pipe, pfd;: (initial quar.).—. Associated Telephone, 4%!% preferred (quar.) Atlas Powder, 4% convertible pfd. (quar.).! Atlas Steels, Ltd., new com. (initial quar.). Ault & Wiborg Proprietary, Ltd.— Aviation Corp., aiiw Barber-Ellis Co. + „ + + — — 67' 249 196 •: 1' 277 —14,848-' — 1,650" + 88- — 226" Seelig (A-; S.) „ ' -45© 2-20"' 2- 1 2-14 1-15 1-15^ :'2-*"lv * 2' I 1-20 2- 1 *.:i:T-204r^ 1-29 1-17*. 2-1 5*?1 12-30 1 2- $25©* - ■■ ^ • * 2-20 •- (s-a) $1- * I 1-20 *, 2- 1 1-20 K 1-31 2- •1-15,**, 1 I 3-15 3-31 3-15 3-21 1-31 1-15 _.__ > 1-15 1 1-15 $1.50 50c 2- 1 1-11 I V 1-15 .f: 1- 4 T 140C t$li70 3- 1 >0-**i 3- 1 1-17' 1-20 Inc., preferred Linen 3-10 37%©' 3- 4' 2- 8 2- 1-17 25c McGraW Electric - 1-17 3- 2-15 -87%C 3- 2-15 ;■■■■ si 2- 1-29 25C * Co 7% : 1-27 $1.75 -*/ .1-15 2- $1:50" U5c . — $50'Ac 250 -• • 3- IT* ! vg lOe' * 2-15 1-14V. :>g6%-'. pfefeiredf '>(quftr.) Midland' Steel. Products, • - Mills, • '$1. 2- 1 t25c . 2- 1 1380- '2-1$20ev f$l,50 *■••* 2- 1 J$1.25 2-15 -7 1-15 k ! 1-15 fi- 1-19 \ 2-1 3-1 2- ; . i Corp. "'• National Liberty (quar-.) :* New " of' America (s-a) g Nu-Enamel Corp. Outlet ■.Pacific 1-15 • 1-151; . 1-15 * • •?vl-15' -10c 2-15- 1-10 V ; ! 3+ t"f- 1-15' 12-20 "2- . ./* . +•1-2*) • n 1-15 1-30 $15 + 32 %c 1-10"/' 11 7 : .* ' 1-20 1-13- 1+30 - , A* 12-31'A •:" 3-15 - 1-16 1-15 1-31' :■ i-3l' 12-31*.; ! 1- 1-15 'j 2- 1 $3' : / 1-27 Company^-(year-end Coast Mortgage (liquidating). Service Co., $1.30 pfd. (quar.). Corporation (quar.9 20© "15c v v -1--2- 4 - l-3'lg! ; x>' i-5C"; f' "•;' 2-15 >';• Si Tilford, Inc; (quar;)—'. Perkins Machine": VSf Gear._ ——!!!—:'!..1 Portland Gas & Coke, 7% preferred (accum.) , 6% preferred (accum.) —+-— Park •"i'-io!A •Vi 15© Pacific Public Packer JM-IS*"*' 50© (quar; Industries A 1-31 >1+15 $1:50-4" , Olin : «- 2-21 3-10; • " Railroad of New* Hampshire (quar.) g Northwestern Fire & Marine Insurance (s-a)i 1-13 1-24 30c- $1*- Northern '• > h -25© Edison'Light Co.- (quar;) •';•-•* 50© > '.ZZZZZZZS!*: 37%©' $1.50 conv. pfd. (quar-.) v. Nunn-Biishi Shoe Co. ' iK 3-11 25c ,' ,1-31 $1.18%- ' :.%'-* I* Northern Illinois Corp., j lr, ;• 3-if > 1-15 , v 50© -J :'t Fabrics (quar.)__^— 4%%, preferred (quar^)— Bedford Gas & Extra l $12%© •,, National Mallinson . 1 4- • f 1-15 Extra Neisner Brothers, 1-15 2- - - 50c (quar Insur. Co, +-1-15 1 - Ex tr a 1- 0 1-10 $i.6(+ - * J, '1-15'-' I •' •0- 4- — Royal Rice Mills, Ltd.-(quar.) National Department Stores- (quarr)_-!w_i.-~+ l2-3l: 1-17 X 2-1 '- $1.50 $1.50 : Wheel Motor 1-17 1 2-1 $1.75^ • v 1 2- > Mount ? - *, (quar.) 1 .. 40c. common«xs!!~!«'!:c,;+ preferred (quar,) Monongahela' Power, 4.40%- preferred8% Mlg 2^15. , v'-'1*-3L. 2-15 1-31 ' ^ $$l;75'i'g 1-15 ! 2-1 •. 50c i t f 1-17 1 2- 75© (quar.). f; 2- 87%© . .:u''gfV (s-a)—— 4% 4- Maytag Company, $3 "1-207* 2- 125c .. pfd. (accum.) preferred (quar.) g>. $6 1st preferred (quar.) !v-_•— .McCabe Grain Co., Ltd., class A (quar.) 'J 1-31 2- 34%c Power Shovel, Marion l-14*g ' Mfg;— Shoe Corp.— Typograph Ludlow 1-22 . :*; 2-, 1;- A 1-25 V, ■, 20c (quar.) ** g'gr.-5e Ltd.— r 2-26' * V3-. 1-/. 1 4- , common t 1-31 2-28 -2- ,7%o Mclntyre • porcupine. Mines, )!td.rJEquar.K-.+, 1-17 ' * ' • • * ; Melville Shoe Corp.,- common (quar.). .g.. . $562- 1 "g^rl^lff': g:• g4% preferred*; (quar.).._!..g..!g— g ' 8%<T ggl-15 ^ l2-3f • Michigan Gas .& Electric-Co.—•> • <*. "■ 22%o 2-1 1-15 7% ptior lien preferred- •(quar.)««'-jr^iBA»"■ $I-gg 2- 1 g^r 1-29* $6 prior lien preferred (quar.l!g!.!!!^.!.-, > $15c ! 2- 1 1-16 $6 •■ preferred (quar.) !'.!.i'!.»J./ SkPfita- *: 2-1 —• of' Canada, - 1-25 2- 1 $1.25 Iritertype Corporation (increased) — -30c. Irving Air Chute Co. (resumed)' 25c Irving (John) Shoe Corp. (quar.)..a.——. • 15c Kings County. Trust Co.. (Bklyn.) (quar.).. * $20*Stores, . ';*:'V-1>18- •'•' • t.S / Ltd.,-common (s-a)__ $1»50 1st preferred (quar.) 80© 2nd preferred* (quart)!._!_._!__ Calgary Power, Ltd.,. 6% pfd.* (quar.)___.. Canadian Utilities, Ltd., 5% pfd, (quar.) - 1-28' 3- 300 50c ■ ; *•>1-18 ■ 3-15 .25c, $1.12% g . 68%o: : : -lOViC'. 5© Resistance Co.— preferred (quar.) ... Interstate Bakeries Corp.', $5 pfd. (acCum.). — Bullock's, 1-28 $1.25 convertible 6% * 1 ' ' Common (increased quar.) -g: 40^- + 2-1 .1-22 : 43A% preferred -(quar.) $1.18%, 3- 1 < 2-15 Belding-Corticelli, Ltd. (extra ' t$l 3-1 1-31 Belleterrer Quebec Mines,»Ltd (s-aHi_.^.!. 1: flOc' 3-15 2»28-:Beneficial Corp. com. !__!.I;__..z_!__ :!V':+ 8c'^1-31 • • *' Ji-lS*' Birtman.Electric (quar;)!: -250 2-1 < 1-15' Bloomingdale Brothers, - Inc. (quarg g 56V»o . 1-25 1-18' Bon Ami, class A* (qtt&rj ' $1* 1-31 li-15'! Class B 60%O' : - 1-31 1-15 Booth Fisheries Corp., common L...1 250 • 2- 1 ;> 1-20 4%" preferred (quar.)! -.g. $'U > 2- 1 ' 1t2'0 Boston Fund Inc. 160 v 2-20 • ; l+3l* Brockton- Gas Light z 25c 1-15 s . 1- 6 Beck 1-20 2-15 . Co., Ltd.— (quar.) preferred (quar.)..s. Lang (j. A.) & Sbns, Ltd. (quar.) !.—.... Holder< g Lehigh Portland Cement! ' of Bee. : Lincoln Printing Co., common..—. —... 'i, $3.50 preferred - (quar.) .. 1-15 Liquid Carbonic COrp.,, common (quar.) ggi 3 % % • preferred -'(quar.) .!._-.g!g—.!!_!'" 1-13 2-1* $1.50 1- % g t 20c 2- I •r:' iocl '' 2- l1 'g ' 30cv ' 2-^ 3*' 1 ' 50C 0- 1' V.1 -' ' $1.25"*' 2- 1" 400 1-24 i (quar.f American Insurance Co. >;<*: 7%. preference Barlow- & pfd. When 27V20 America-(quar.)! $2.25 conv. Extra CaldWell Debits week:; — Co 5-.preferred Baltimore 1-18 1-30 *75C:g - 1.884" - Foreign banks. 39,981' 10,421' ... 875* 6,928 '52 r 639' vault 7". 18' + Stove .... (monthly)!...... 'T;847^'- ^;':'5%-%^ pref.-:(quar;).u— Automatic Canteen Co: of 116 2j302'' -' 886 Treasury bills ■ 16': 67 ' - —... 963 + 1,563-*' estate loan»i.^_w.w-— Loans to banks — 3,0*20; + i5r 684 'v securities loans^_i^. 65 im 428- ■ carrying:; U. 8. Government obligations Balances with domestic ; J-i 941> Other loans for purchasing or Other v Products Anderson : pur- chasing or carrying: U. S. Government obligations.. Other securities: Company.— American-Viscose Corp.* 804 + S.) American v ... preferred (guar.) Markets, Inc., 6% pfd. (quar.)_ Home ! 1-10 : 1-18 1-27 56V4C 7% Share Payable $l.l2Vi 1-25 *' ' convertible American —11,795 1-31 1-27 v; ;75c Common' Abraham & Straus, Inc. Acme Aluminum Alloys,-. Ine.-^ 1946 * 1946 — 2-1 1-20 l..01:25 (increased) i......... 2-14 2-1 Lake of the Woods Milling this week' arA: Per Jan. 2. l-io - 2-15 'leg. Kobacker The dividends announced Albers Super 31, 1946:'; 1-17 "•- 3-V1 50c' Hardartl(N; Y.)..!i.._ i-17 ; 2-15 25c" 20C' ..... . 1-17 0-i; ; (quar.)_$$ITAT,--75c' (quar.).! 1-15 1*-15 ■ , 1-31 J$1.25 • ; , 1-31 ' 1-16 lg. International are declared. (A*. 1 2- J 20c dividend payments in many cases are given" ;gg$l;37%": preferred (quar.)—x— in our "General Corporation Kokomo Water Works, 6% pfd. (quar.).—. Laclede * Steel (year-end) and Investment News Department" in thd week-when- Aloe' 2- 1-31 , 1-17 1-15 ! 1-24 12 %c 62%© under the company name * 2-*i; g. 25c ..... lfc15 1 2- t^'^c ' 1-15 ?:2g. l';: institutional Shares; Ltd.— g Stock and bond group shares ..! 25'c" interchemical Corp; (increased quar.)!...+. 506 4%% preferred (guar.).. $1:12% Inter-City Baking Co.,: Ltd; (extra)-.—$$L ord of past $1.10 1-18 1-18 + 50© ■> * : . 1-15 . f$"i:i2V2 Hydro-Electric Securities Corp.— .5% preferred B • (s-a) — Idaho Pdwer Cog vcommon* (quar.).awU.'..- grouped in two sefparaiO tables. In the first we bring together all the dividends announced the current week. ; Then we follow with a second table* in which we show the dividends previously announced, but which have not yet been paid. Further details and rec¬ 1 . 1-30 1-30 '$3* g!g:4%g.preferred:- (quar.)—^......— DIVIDENDS Dividends i-iy Extra ' Border's Inc. Horn & 7,776. 1-30 (quar.). Heidelberg Brewings Co. .1-10 1-28 15c ;Extra*: .■;,• 6 I- 1-15 68c 25c . .: 1-15 ■' $1" n Harshaw; Chemical Co.; common (quar.).... g 4% % convertible preferred (quar.).-..—. Hartford Elediric Light (quar.) .... 1-31 . 8 1-10 Gr6en, (Hi 27- + 1~302 + 2- $3* Grayson-Robinson Stores, $2.25 pfd. (quar.). L.) Co.; Inc.: (quar.) ^.■..^ .?*' Extra!4..^* ........ ' ' 2-25 *I-lir Inc. preference ,4% I-2rf '1-30V 87%©* * • conimon Gorhazn, Inc., clask A* (ihitiair_.:v Class B (initial) Grant <W. *T.) Co. (D«.)^ (extras ■" + 25,614 Goodyear 167,358 i-n 12-31.; (quar.)_.._!._..A-.._.^. Tire & Rubber Co: of Canada— Globe-Union, 1 2- 1-31 : (s-a) -!-- (s-a)'.. Company in- 5 1-8 > (s-a) 5 8- 11-15 1-15 (quar.). & Marine Insurance S'gV g* 8-15 I0c*. . (quar.) preferred Gilchrist 3,044 + 5% Gibraltar Fire indus¬ V $6,000,- Commercial, Industrial, and1 agricultural. * % ^ and F. deposit Commitments . Loans—total during + 187,620 439,823 .27,455 — note liabilities combined. liabilities of reporting, Assets— •:/. Cash In 44^405,351: Contingent liability on bills purchased for foreign- corm respondents, ii— member banks de-g Dec. - to serves Increase ( + ) or Other 10,057' 665; g 2-5 5-15 $1.75* . 347,172 + —152,308 + 61,952 — gold* certificate re** Rathr of Decrease (—) Since . -w Other capital accounts (In millions of dollars) Real 470,739 >1-20 ; 2-15 150*' • !, g- 4%%.. preferred'1 (quar.)_... Froedtert Grain &! Malting. (quar.) General Shoe Corp. com. (increased quar.)_ 'g $3.50' preferred '(quar.) !. I ... General1 Steel Wares, Ltdg common (quar.) ,4 / member banks follows: v- : : Total liabilities & cap. accts. Holdings $277,000,000 and on Dec. 31 amounted to Loans 82,122 + 1-31 - : Borrowings of weekly reporting Loans 258,498 4,647 + 1,867,588' Capital 000,000; clined + 139,718 •' $213,000,000 in New Ydrk City, $60,000,000 in the" Cleveland District,. $59,000,000 in the San Francisco District, and $57,000,000 in the Philadelphia District. Time deposits increased $67,000,000. United States Government deposits increased in all districts. Deposits credited to domestic banks increased in nearly all districts and the total increase Was $196,- - ^ principal decreases being the 356,420 17,824,140 deposits" Total liabilities- adjusted declined in most districts, Demand deposits 8,529 ? 1-20 ■% 1 2- quar,)i2%cv ; *;:2- 3 Ay ,2-15 20c$2 . (irreg.)_^!tt!u.-!^!«!i;!i^uii.!.«+ gFranklin Stores1 Corp, Freiman (A. J.), Ltd., 6-18 1-11 g! - 3%%: preferred-^ (quar,)^:-!' Fitchburg Gas & Electric Light (quar.) Foote Bros. Gear'& Machine Co., common —si—-yj. of indebtedness and of United" States Government Bonds, declined $52,066,00(1; and $50^. ' 635,088 41 318,285' availability items Other llabs., incl. accrued dlvs. of Treasury certificates 000,000, respectively. 317,845 ' Deferred District, and member banks. — 308,667 + + 16,456,723' 401,398° 647,734). Other 1^ -r* $65,000,000 in the- Chicago Treasurer—gen; Foreign. ■ increased $217,000,000 in Holdings'fof Treasury bills New York City,- bank—reserve acct. acct; Member Uv S. -151,738 24,793,566. ,J 3-19 ; ll (quarJ Convertible !;preferred Franklin Fire Insurance Deposits: purchasing or carrying other $151,000,000. 686,542 + A Clas^ . +169,450 45,175,863 " ■. - , , — 2-15 2- Fenton United CleaningDyeing Cp^" ;:'g';7%;: preferred * ('q&ar.)___!.^_ Ferry Cap & Set Screw Co Fidelity & Deposit Co-, of Maryland (quar;) * First Boston; Corp.', common (lrreg.) Liabilities- $65,000,000. Loans , to>brokers and A dealers for purchasing or carrying United States Gov¬ ernment securities increased $81,000,000, and' loans to" securities declined 44,030- i- ' . 15,645 32,400 - g:-v 3-15 g* 1 7-1+ 25c -.a.!!—: V member* banks was and dealers for • — Total assets Commercial,, industrial, and1 agricultural' loans de¬ clined in most di^trict^ and the1: decrease at all reporting brokers premises 3,106 281,386 976 + —336,823 2,262,751 Items Uncollected l6"671' + 174,056 , '■TT +' 2-25; (quarj01.26'" . gFedderS-Quigan. Corp;^^ ! A-> 1 50c ' 506' ; 500*: -58C t$l;25" 25c• $30<r Eastern Theatres, Ltd. (interim) f$F g Exeter St Hamptoh' Electric (quar.)$2;50 ++126,155 4- loahs 1-15 + • ^.T-15 ••'■ 1-20 Michigan Stove, 5% pfd. (quar.) • preferred (quar.)g!— 5% preferred (quar.)..>._.._A._.A:__-!.!j•' 5%' :preferred •'(qua'r.)-__g_!_..___„_-._!-M._.w'*• g, Distillers Corp.-Seagrams, Ltd., 5% pfd„_._ 'Divco Corporation' (quar.) .......... : Dominion Bridge Co.,- Ltd. (quar.) A ' 5% 1 3- Detroit > W 1,, r (initial ' 1^ 6 . ,'i 1-13 2- class A Detroit Gasket & Mfg. - 1-28 ! 4-1 " $1.25 pfdg stockf (quar;) Debenture • Co., Mfg. Dennison ; 32,127 1,353 +382V852 Bank (quar.) Press, Inc. (increased) preferred 1-1$ 3-15 t$1.25 $1.25 , 3^ 5 2-1 : 93%c (quar.) Davenport Water Cov, 5% I- 23,980,033 ' 102" of weekly , 1 23,732,537'; of Member Banks Government deposits. ■ U.S.'Govt, securities1—, Other assets' reporting mem- :: ber banks of the Federal Reserve System in 101 leading cities shows the following principal changes for the week efided Dec. 31:' Decreases of $226,000,000 in loans, $378;-" 000,000 in reserve balances with Federal Reserve Banks, $555,000,000 in demand deposits adjusted; attd $277,000;000 in borrowings; and an increase of $249*000,000 in condition statement The ill and securities DUe from foreign banks^ F. R. notes of other banks ; preferred 1-22 1 '"•2- : 25c (interim) !!_■!■/ common (quar.) + A. Cuban Atlantic Sugar, 5% preferred (quar.) ; 26,516 : - -r 753,390 Bonds M + 83,888 . *i ■ Total Co., 5 %' 487,544 + 246,967 • BillS 162; fin Vol. 164. 'i < i ^ g *'*•#! \ .'• VTv.W?>'*!V v, ,}t '^.'}*$■>. *''.V 1 10,926 + : 4- 18,378,427 304,064 Certificated',^..— Total Can preferred $3.75 Corrugated Paper Box Co,, Ltd.— 476,618 + :_»!_i-! - 37 %o _gg 37 'gc g.Clas3 •- A ' (quar.)!i!_!!!!^>„._ Class B (quar.) L__ , :g; 1946 + — ' , ■ . : Chemical Industries,' Iiic.— Consolidated Jan. 9, ■Hlft. ft U, S. Govt, K2450 * ' Deer. Since— 21,999 ? 4-19,133 813,249 and advances Industrial "Notes t. . $1.50g "(quar.) ' ■ 1-17 ' gl-l5g* ;giwev •'• 1-15 2 I- 61 goc Continental ; J-n 1-31 2- 1-18 ; »■ ■* 1-27- $5cl < Electric, 0o:,\6% ' pteferred ;Concord :g 1946 17,565,178' gold ctf. reserves- Discounts 12490 tin Vol. 161. §In Vol. or Dec, 31, Co". g\;; Common Cuneo cash Other Hardware Co.— . < * 7% preferred stocks ._■ i—w—Mar 15 A""„ Silverwood Dairies,- Ltd., 41)-cent preference stocksua.^.Apr 1 H2835* 60 Park Place Office Bldg.—■ 1 * ' r * ' ' 4 1st mortgage fee & leasehold bonds—a. w——_«a.^itoi_Feb 1. *15'/ Texas Pbwer & Light Co.— . . / !* ; 6% gold debenture bonds, series A,- due 2022—zz--z~zJuly 1 Toronto, Hamilton & Buffalo Ry.— ' >" . * ; Consolidated mtge; 4 % % bonds, series A, due 1966--Feb 1 ' v j . — Total $2.50 and ♦Announcement iff this issue. ■ ■ -- 5% Redemption Segal Lock & ': ■ . ■ - , —Incr: * certificates' Gold 113 1 25 . -^ ^ thousands'of dollars) (in Assets— §2822 5% debentures,-due - 1947 113294 J3294 ,12960 17 • Jan. Building, New York-City— , '. . Stamped 1st mtge. fee and leasehold bonds, due 1949_Jan 17 1st. mortgage fee: and leasehold bonds, due 1944—~—Jkn Nebraska Power Co.— ; , ■_ . ' v. , * 6%; debenture bonds, series A, due 2022 —Sep' 1 v.. Northern New York Utilities, Inc.— > 1st lien & ref. 6% bonds, series B, due 1947———Any time Panama Power & Light Co., 20-yr. 6%-debs., due 1947-Jan 16 1(3295 Seaboard Finance Corp., ' i Feb 15 Feb —, • - - Reserve Banks Combined 1(2287 due 1956 ' " ' $30© ' J - • 2gv. 1-15 1 2- $1* -• 1- - 'g i; Railway, common (s-a) , $5 5% preferred (quar.)^__ ; g $1.25*.g:> 1-31 2-15 'Colgate-P^lmolive-Peet Co, com. (quar.) 50c ; 3-31 ivgv:; $3.50 ■preferred (quar^i!^!!!^!!!;^!!!!!?.;!> 1-27 Colonial - Mills (quar.) ——25c . 2-15 Columbia,.Ga8 & Electric (increased quar.) , 15c.. 1-15 Commodity Corp.; __!„«„.» 4 9c Statement of Condition of the 12 Federal July 1 Tower National ■ > 6 per Share / : - 1-15" : 40c r preferred (quar.) Chateau-Gai Wines, Ltd, (interim) Cleveland,, Cincinnati, Chicago^ & St; Louis Common wealth: Edison' 1 • ' - r 1(2548. July 1 • ($25 par) John C. Clark Co, 80 -f- 71 71 72 ' . STOpKS - 113413 1973_Mar 12 •*4%% . Shares Lofland, Philadelphia, on & Barnes Transacted' by Wednesday, Jan. 8, 1947: _ •, Feb 20 convertible debentures due 1956 — Great Northern Ry.— -A ' 414% gen. mtge. gold bonds, series E, due 1977 Harborside Warehouse Co., Inc., income bonds due International Telephone & Telegraph Corp.— 4Vi% debenture bonds, due 1952 Kansas City Power & Light Co.— 1st preferred stock, series B Mahon (R. C.) Co., 414% debentures, r - 1 1 stock__.__Feb 1950x.—_—Feb Corp.-Seagrams, Ltd., 5% preferred Co., 2Va% debentures, due Public Utilities Corp.— Electric Auto-Lite General • * - ___._..._Jan-30 ($100' par)"..— Sagamore Mfg. Co. 102 1-20 g; 'T '4% " 2-15 1-31 75c (quar.) (Texas)-—• Central Power & Light 2-28' 30c Light & Power Ohio Central ' 6 p^r share —1—* ,95Mi STOC&3 ' Shares 113141, Feb 1 bonds, due 1946 Terminal Co.— bonds, due 1947-1959., & Dallas Ry. —Feb 1 ; , Wednes¬ Day & Co., Boston, on ' 0 r ' Transacted by R. L. • Payable of Rec. Share' gvName of Company g;,7V»:j- gg gg' i.g; i; •.Caterpillar Tractor (quar.)_____ g Central Electric & Gas Co., (increased s-a) Auction Sales -J + */ Holdere When Per *1. ' 1-15 " 1 .*' 50© 1-15 1-1O . 75c 2- 5 1-23 50© 2- 1 1-20 * $1.75 $1.50 . ,t*;.2r 1 2- ... 1 120 1-20 • •' Volume 165 Number 4559 THE COMMERCIAL & FINANCIAL CHRONICLE Pt>r ' x Name of Pure . Oil 5% Company Co., preferred (quar.) (quar.) Insurance conv! pfd.'(quarZ) 4%% 1 $1.25 "4', 34- 1 (111.), preferred lOlffcSS ' Tobacco Ek* W m Co. U — — JZ Z .American Shares (resumed) (quar.)__ Extra ■ ._' Fine Foods, Inc., common 4- 1 3-12 ' 2- 1 1-20 1 B.i 1-31 1-20 77 15c-V 1420* 2- 1-13 Z P. h 1-15 - 26C :: t30Ci : 1-15 1- 2-10" 1-20" $9 1-20^ $1 . 2- 9%% convertible preferred (quar.) ijj $1.37% • White Sewing Machine Corp., $2 h 500 * prior pfdil -1 ,$4"- conv.i preferehcei____u——c 50c WUbur-Suchard Chocolate Co., $5 pfd. (quar.) $1.25 Wisconsin'Public Service, 5% pfd. (quar.)__ S1.2& .Wood/ Alexander James,. Ltd.— 7, 1-25v z 1 2- 1 2- J' . 7% lst_; preferred (accum.) J: $$1.73 WoolWorth (F. W.) Company.(increased quar.),. Extra' J4j_xx4 xx.~_ WorcesteriTransportation Associates ; 1 2- . 1 I 3- 1 2-10 7 2-10': 20c (quar.) 1 (Thomas) Orchids <irreg.)__ Yuba Consolidated Gold Fields (quar.) _jj-v v- cExtra"t_ ZeBere. Ltdo common (quar.)— *■'- 1-10 1^ 6* $1.50' 1-16 2- 1 5c < $ 2* 1 1- 8t £ .1-38"'' $250 2-1 $25c i 6%" preferred (quar.^______u-__^__Jr__-_j^ 1-15 •.( Below 2- lr- $37 %C (quar.X__l 5% preferred $3iy4C 1-15- 2" V- we giWthe dividends aimotmced ln pPevloui weeks and not yet paid. The list does noft include divi¬ dends announced this week, these being given in the preceding table. Z ^ , "V"ftt .Name Company -: , Carrier Corp,, 4% Catalin Catelli When Corp; Food At tA F. -Co.v (sedond ' liquidating)^^ $5- '$ 1-15 Affiliated Fuhd, Inc.4c1-26 A4f * Reduction Coj lnc. (quar.)J.__1.^-__^_Z 1-25 -25cf", Air-Wky Electric Appliance Corp.j^____^ ; 10b 1-14 Alabama Mills, ;.IxiOi'<' 20c 1-15 - of 40(f: All- Penn common' (year-end) (quar.) Oil & Gas Co, 5 2%o Allied Stores Corp.w; Aluminum Cot of 'Canada, Ltd:-M '.4% preferred (quar.) Aluminum Goods Sugar,5% Petroleum (extra) 25c' (quar.) 12%c 2- SOC . 2-15 1-251-25 12-27* $1.-12% ''1-15 Fork & Hoe, 4'/2% pfd. (quar.)__ American Machine && Foundry— 13.9% preferred * (quar.) American Mall American Maize-Products, American Metal American American " •-Extra Line, Ltd. (year-end ». t $1.23- $2.25 Smelting-— 1 • ' (resumed)- ^ Amoskeag Company, common (s-a)______J Common- S'p- Corp.: (quar.) Ltd • we*» 4%% Electric preferred eel w Armstrong com.1 1-21' 2- . i 2- 1 1-15 Ltd., „common- 1-17 77' (E. 1-31' I.) 1-15 1-12 1-10^ 62%o Power— . J Cork Co., non-cum. common preferred $1.12%7 (year-end) _s.*..4 :: Consolidated ; 1-20'"-: 3- 80oT 1 1- 1 (s-a)___ : Electric; 4% preferred (quar.) Refining Co., 4% pfd.- A (quar.)Z-u - 2'2- 90c Nichols v 2- 1-15 Z7 2-1' 1- 1 1-21 2-15 1-15 $1.25 3-1 $1.25 6- 2 2-15 30c 2-15 2 9- $1.75 2-1 5-15 preferred & . 7 1-15 11- 1-31 1-15 1-31 1-15: 277 1-15 1-13 12-30 12-14' Group Associates _j_j ' 3- 1 1-15 $1.25 2-1 k ; Extra — 2- &,Co,, Inc.— •7 CWnv. priof preferred (qUfif.)_tL„_j_'_ZZ ^.V 35c ' BkldWin Rubber; Co::•i'! 'i7%c " 12-27 ^ 1- ' 6'^ ^ Corn Products Refining 77 '7% ^preferred (quar.) i- e-5- com. 2t l'i' 1-20 1-21 (year-end)1' v 40e - 1-20" 1-15 1- 2 * Crum : «■ 8% & Fonster, preferred (j • ■ 'JHi7 (increased) <V\"V .. ■ 7.',j■'*. ■- }* • • ;vi •» ■ ' v". 'i ;Vfl«L" C - _-.Ji.JJa>' ■ 4 v:*t 7; '':/>' ■ • $1.31%" J v...' V;Z •'*•<<! 2* : 7* • - 1-15? " - i'U[,.. •, 30c 1-13 Z 3-31 12-20r •7 3-14r?v 771- 6'* 8 " 4-15 4- 8 7-15 10-15 ; 7'7- 8 5% . 7> . 4 10- 8' 30c •' 12-311* 1-15 30© ?; 7 1-15 12-314 4 1-15 12-30 1-15 $1.50 1-15 1- 6' 12-31?' (Syra- 7 $2.50 ; 4- 1 50c 2- r 50c ___x, 5-1", 3-15" 50C 8- 1 7-15" 11- 50C v "4 1-15 4-15 1 10-15 ' 25C 1-15 1- 6 50c ■Z 4 4 1-15 12-31 i 1-15 12-31 .' $17 .'"1-15 $1.50 $3c i 12-31* 1-17 6t 1- : ^ ' $1.50 ^ ; • 2- T '7 1-16 77 ,-$1 1-15 12-31* 20c ■ 1-15 ' 12-31C shown Fund_ of Co. Drive 50O ■•4 :4 Quarterly & preferred & Malting (quar.) . Gar- Wood General - 1-20 1-15 30c ' quar.)— 150 ' $500- common" 1-30 (quar.) JJ jJjJ 7 1-20 1-20 : 1-25 4 - ^ 1-10?' 12-31,1 lOo 2-15 2- 14 5-15 5- 1 r:." 8-15 4 8- 1'-':. 12 %C 1-31 55c industries -'4% %- pfd-J (quar.) x_J 1- 12-314 :10c .jj Z; 10c Co. com;__-x-__-J_ ? 1- 4 1- 5 1-15 ; 12-314 f 12-31i? 1-17 : . ?• 10c $350 1-31 Schmidt -Baking Co:,- 1-15 ZZ1150 (initial —j_x_x_J_t Grain 1-15.' 60 inc.— Canada' (quar.)_. Auto Sr Co. Z' si"; 75c 7' 7'; Brewing (special)— Fyr-Fyter, class A (quar.)i : Gabriel Cbrapany, 5% conv." pfd. (quar.)ZxGardner Denver CoJ- (quar.) J_x__x_ Gardner Eleetric -Light Co.; -commonr_j_Jx— .1* '3Z'.., * Trust Brothers Fuhrmann 1- 3 :T-1'5 1-17 \ 1 15C (qUar.)__ Brewing (quar.)__ Wheel $2.20 1-17 1v 1-25 1-31 1-15 7 J. 1- 10c Cos., Ltd. (quar.)xx-_x_x—ix-xa. Friedman^ (Louis) Realty Corp.,.com, (quar.) ; Quarterly. _—x, —J. ■:— V 17" Four FOWhes j'Z7V:-J;'7v'v 7,:l-y '. 2- - 750" zW'} 70o . _— (quar.)_u-^-_---f "• *'vV 1-i 1J 2'" 12-23 i- 1-17* > •42- 15c 4* 1-17 5% Fraser 1-2 "145? 2- > Froedtert (quar.)—- (quar.) r 7 $i;r..: 25c 1- 1- 4*- 744714 preferred Pitt Foundation ?12-31 1-15* 20©> ■\L- - , common i 12-314 .7, $1.75:7 Cornell-Dubilier Electric— $5.25 series A preferred v: Z 5% 12-301 (quar.) , . common- 12-10? 1-15; , Hydro-Electric,, 1-24" Fort Corn: Exchange Bank Trust Co;-(N.* Y.)" Increased quarterly ■'lw 6'"' 1 ,$$!•' ' 41-31 5% . __—_J— Fieming-Hdir Tobacbo Co., 25b 4 7 12-27*' 1-15 250 • Fibreboard Products,* Inc.r— 6 %■ prior preferred (quar.) _x___Jxxx-.ja Fidelity-Phoenix Fire Insurance (s-a)_____. 12-16 u 1-15 4:1-15 $25c J 6 6 12-27* •: ' J*—jjjjj_jwx--jji^-x-—v 1-15 -.ZvZZ'*:: (quar.) 1-15 25C (quar.) — 1-10 11- 1 50c - Flfst'Mutual 15o 2- 60c 7 12-18? : 1-15 1-15 v ■ - 1-15 H. 12-27*1 ■ 70c '• 12-31 1 2-1 15C Works 1-15 1-15 2- . 3-20 2-1" $1 j: 6-20' " 9-20 1-15 $1.05 Firemen's Fund Insurance (San Francisco)— 7J Quarterly : i x_xrx_xx_Zx--: Firestone Tire & Rubber™ 1-10 V ■"'15^:? 25c 87 %C ■ J 2 .. 1-6? 1-27' 10i 3-207 VT4*T ' 1.12% above; was 7 incorrectly reported last week as a* $2' j'-Zi; ..V^ payment. " *■ Fllene's (Wm.) Sons Co. (quar.)__x_x—xx * 12:31 7-2.7 2'-' 30c J - The regular: dividend 2-15 $1 i± :V 25c 25c :__'«._r.xJ—_____J«ja' Extra 1 ■L ■t: 25c (quar.)___ quar.) <• ?' 'K.-» (J ' . - ' 2- 4-13 i }'•' 6%' preferred (quar.) .Jx_____x__ Federated-; Petroleum, Ltd.j-_—j—.j——. 12-3 J 2-15 / 2 If.:' 1-15.; stockholders. common * 6- 2 9♦12- 2- 1 5- 1 J*. * it.': 3- 9-15 ■ 25c —^_____—___— 7- 12-31 1 * $6.50 —a. ; Federal Screw 12-31 3- 1-17 6-18 * . $6.50 jjx Inc., 3 M2-15- $1.50 -A.fi? 1-16 i 12-31 3-15 $1.60 • «... — 1-25 2- 7 1-15si 1-17 1-15 $1.50 j _ 1-15' 1 " $1.50 (quar.) jJl_—wj 7 - Quarterly Quarterly4". Quarterly • ■ 1-15 2- 1-31 20c- - xjj__ x-x_——i— (extra) x'____J-_—x— Federal Services Finance, common (quar.) 12-31 12-31? 1-15 1* 12-31 ■ - 1-1.5 1- 2- 1-15 7 —; Phonograph - 1-15- 1-15 V- & ■ ■ 1-15 1-15 $1.12% $1.25- a cuse, N; Y.) (qUar.) Fashion Park, 7 Inc, j (Initial : 12-16f " " $15c :A 170 1st pfd. Farmers & Traders Life Insurance Co. j I 2-15 $IZ "J. Z Rj Corporation (italtial)-x _-_J— Fabricon Products," Inc. (irreg.)—— Fairbanks-Morse, Ltd:; preferred (quar.) 2-7 $$1.25 $5c 2- • $$1.12% xx— J Eversharft i- q ; u 7 1-13 1-15 $200 30c- (quar.) j r„ r: - $1.75 (extra) Company $$I.73i (quar.)_ Supply^(quar.)_x_xx_,J Extra v Extra 2-1 (s-a):_'__ ■% 1 (quar.)_ par value (quar.)_ par value (quar.) of the common 8-15? • ■ - 1-3* 12-20? 1- 2 Esmond Mills, Ltd.; 5% preferred (quar.),— Espey Mfg. Co., common (initial) j J Preferred" (stock; dividend) x,_-— Preferred (stock dividend);■ Preferred (stock dividend) Preferred payments subject to the approval , . 1-3 1-20 2-1 par value no Bond ••7.7 Extra 1-18? $250 Co. 1-31 1-31 $25c* - . a-1 $1.25 .JJj? ' 1- a preferred HmployerS 3-1. 12-28* $2 (year-end) 12-31* b 1 ' 2- $8 Inc.— (quar.)___ 2- 75c (quar.) Emerson Radio & 1 $10c Royalties, Cook Paint1 ^ Varnish Coon (W. B.) 1-31 i 1% 1 v: i-ron-s 2-1 $11 $$'• B 1; 3 3- Paper,* Ltd. ' * 2- _ — Continental Insurance Co. ..(N. Y;) Converse .Rubber, 5% 1st preferred 2nd preferred (quar.) ^___ 12- 6v 1- 7 1-24 $2.50 1 - preferred 12-31 $250 Share, $3.50 pfd; (quar.) preferred (quar.)x Ely «te Walker Dry Goods, common (extra) _J •7%? lst preferred (S-a)_______jx— 6%fc 2nd preferred (s-a)'j___Z___—xj_x— 3-26 .$250- • 1-31VZ 1-23 ;6% Consolidated1! Textile Z l-3l^ 1 = 1-18 ^ -7 $1.50: J r. ' 6 12-27 W 2-1 (quar.) -— $$1- Consolidated 23- ./<;.15c common J Atlantic City preferred 2-117' ,,'j' .rZr-*'i . (initial$10o' (quar.)_^^_j_^J-Jl-$$1.12% Constable 1-20'S 12-27 ' 1-15 f 1-15 $25c $4.20 35c Extra-- : 12-27 fc Rstdfng ASsdclbtibn;1 Inc.— 4%% ' 2-15 t$1.25 1-15 $30c 6%t lsfc" preferred B (accum.) > Electric 3; 250 Semi-annually 12-31 1-15 1-15 v (s-a)j (quar.) _J7 Eastern Township Telephone (quar.) Ekco Products, common (increased quar.)__ 12-31 4- 1 250 1-15 2-1 $$1.25 lst*'preferred"A (quar.) Jajaaj.wx--ZJaZ*: $1 40C common-(quar.) 2-1 $35C x-i-a i 12-31- 2-1 • $25o B ■ ■ ■ de Nemours & Co.— $2 par and no 1-10 1- $1.50'' 1-15 $400- u common (quart) Metals ^$2 par and- 12-311 1-15 $1 12-27 $25c- common $2 par ahd-no 71-10^:7 1-31' 1-15 50" 12-30' 1-31? $75c (quar.) (quar.) 2*T 1-30' $20C' ;V (quar.) 7 (quar)Jxxxx.x_xxxxxx_i.J Eastern 11-26? 2^ 1 10c 2-15 *• $37 %c 1st preferred -A (quar.)__ 1st preferred A "(quar.) 1st' preferred B (accum.) 6% 67 " 1- 20o (s-a) 12-30 ^ 12-30- $440 Ijaaoiis class 1-11 1-17 1-15 $370 6% . 12-31 40c (quar.) 12-31 1 $1 15c &*Coal. Ltd., . • 25c $27%c : Chemical, 6% 1-10 V 1-20 %o ; 1-10" 1 15c 30bi; $5 preferred (quar.) Consolidated Grocers Corp., ■ ' Corp; (extra) Equipment Corp; (resumed) Topeka & Sante Fe'Ry,, .Barlgdr 1-20 2- 13c h u k 2- $lOcr Steel 1-15 8-15^ 6-201 1 2-7 "* ___ (yfear-end) Co.> 1-25 8-25 7- t$1.26 Corporation* Eaatern Massachusettei Street Railway— 6% 1st? preferred A (quar.) __x___J_xx__J/ 12-12 1-15Z Consolidated Mining & Smelting of Canada— 1-Z 12-31" a- 25C (quar.)_ Atchison A,ustin 1-siV $$1' (quar.) • 3.60% - s 1 Co.' (year-end) Eastern 5^12-34 • 2-10 $1.18 Connecticut''River Power 6%-' pfd:-(quar.) Consolidated'Car-Heating Co; (quar.) Consolidated AEdison Co. (N. T.)— 6-27. $$1.50 w) ArgUS Corp., Ltd., common. 4%% conv; preferred Atlantic 6-27 ? U 2- 12-31 * 1-15-' 8-15 1 7% (quar.) Duquesne^Light Co., 5% 12-20' 25c r i— 1-15 1-25 Ltd.— Crucible -$4.50 preferred " 1-15 37%c common 2- 7 ! (Interim) xx__: duPont 6-31 1-17 f 256 ' — 1 8-25 $1- ■ Appalachian ,.5% 7- 7-' 7 s IVboTj W< Ltd., Concord Gas. (New Hampshire) ; 7 % £ preferred(accum.)_• . Inc.— preferred Trap Co.vof America, preferred (quar.)__ Arnold 12-31* 12-16 v 12-17 2" 7 J" 75c Extra Animal ■ : 1 1-31 $250 (quar.) i.___J— Common: 1-27 $ii $1.50-' Coal, DUcominun 2-28: 7- 1 50c — 6*; $2.25 (s-a) Post Product's, prior 1- 1-15 -IOC , 12-20 ^ 12-31 4- 1 2- $1.12% Enterprises, Ltd.— v preferred 3- • 1-15 30c 1-10* 1-10*' $1 Dupian Corporation 20C* j..' 1-10* 1-20 10c (s-a)___a-a-__— $4 preferred A^(quar.) _x— Dryden Paper Co/* (initial)____. . Community Frosted Foods—1st 1 participating preferred v Year-end • i -Z- -r'Vr 3-: f-1^157 1-15 * $1.25 —^ 1-20 75C ' 6% Aluminum Products-——— • Dow1 712-27 2* L (quar.) (quar.) 1-20" 1-20 25o - 1-29^ 1-31 $l'f — , $2!5G ' 25c Alcohols, Ltd., common (quar.) Commonwealth & Southern Corp.— ; .$6-preferred (accum.)- 12-20 2-23 $250^7. 56 1-31' * iZ Dominion'Woolen^ & Worsted. Ltd. Donftacona Paper -Co., Ltd.— j4%% conv. preferred (quar.) -7-:^p f£ ' 12-27 20o _ preferred VCommoU' VTC 1-29' $i5b :; (extra) Commercial 12-16<> 1-15 1-10" ' 50c com. 1-15 12 %c Dominion Textile Co.j Ltd.—» 1 7% preferred • (quar.) .J-*-—.ou—ws l-ilO'< 2-1 $$1.75;• ■. 12-20' ' Dominion-Tar & Chemical, < 2-1 120 Z. Terminals, com. (initial)'— (quar.) 12-18 1-19 . $7507 Ry. (quaf.) 8%' '" preferred 1-15 25C (quar.) J American Telephone & Telegraph'Co.-(quar.) American Zihc Lead & 5% 1-21 1-15 Extra 2-28 ^ Collingwood new Corp.-Seagrams, Dominion 12-26f 4- 1 $75C" City Stored, common (quar.)—— Class A: (qUar.) Clinton Water Works' 7% pfd. (quar.) Combined" 1-15 '* , ' 1 '' (quar.) j 7,1. Preference, (year-end) . 1-157 - 250 preferred A'nglin-Norcrbss 1-14 ' $1.12% i._._ ■ 25C 82%c Extra preferred 150 '' ... 12-3V 1-21 : Club 1- 3 -'1-10 ° 2- $ $1.5 (R — 12-31• 1-15 5 7 3-31' - preferred preferred -Mfg. Dominioni Oilcloth* &" Linoleum 12-20Z 6 1- 1-15 30c u..a4 preferred (quar.) Malting, common ;(quar.) preferred (quar.)__ ,.5% 12-20 2-22 —i_ 1-10 1-31 Co.— (Joseph) 7% 12-30 1-25 $25e« . 1-10 1-25 40c Dominion 1-31 ; 1-27 (quar,)_^; (year-end) City of Paris-Dry>Goods-* 7%r 1st preferred (quar.) 12-31 1-15 . 25c. American Rolling Mill Co., 4%% pfd. (quar.) American Safety Razor; Corp. (quar.) American Sugar Rfefining—• Common (year-end) ■O • 250 Z 1-23* 1-15 & $1 com. fquar.)___i Co., Ltd. (year-end) Molasses Co. (quar.) News Co., com. (bl-monthly)__^_ 12-31 4-15 97 %0' 12-31 . 1-25 25c (quar.) Dominion Glass 7:';Z7 Extra'- a* %:■ 1-31 2-15 $18 %0 (quar. 5%-' 12-27* 1-15 30C- 50c * 1-15 2-15 $2(Sc- _s.^ 75c 1-16 —-a- Ltd., 6% pfd. (accum.)a__Dairies, < Ltd.— 5% non-cumulative preferred (quar.)___w Dominion Fabrics,** Ltd. com. (quar.)J fist pfd: (quar.) Ja.a_-..fc4*saJ 2nd pfd; (quar.) as ._a__a_a__aa-__s^_ ; 1-15? 12-31' preferred America Products, Ltd., 5% 50 c ,4%% :preferred(quar.)-i._Z-»--''-w«-^--W--»-'\;$ 1.12% 6% 12-31 500 American ; 1-16* 30o 1 12-31 $50"o-> $11.25 J (quar.)_ Chicago Corporation (year-end) a-—i.—7 Cincinnati Gas ElectricZ— Cincinnati Jriter-Terminal RR7 Co.— 4% preferred (s-a) Cincinnati New Orleans & Texas Pacific Ry.— 5 % preferred (quar.) 1-15* ' 1-15 2- > $$1.56 37% 0 Chase Candy Co. (increased quar.)..—______ Chase National Bank (N. Y.) 1-17 m .Extra" Anchor - Distilling (quajr.)__fc__Li__^-^_^ American $4.25 : 1 1-31' 25o , . bzii 1-31 " preferred (quar.) Aiuerican Asphalt Root Corp.— Increased ..quarterly Extra American ;Can Ca. (quar.) 5% ia-2$- 3- 1 $25c: , Manufacturing Cor Amalgamated Amerada 1-10 1-20 1- 3 1-31 250 Co;; Ltd.— deposits receipts Dominion 12-31 1-11^ 1-15 — 1-15-' 50$ 1-11* v 1-15" — Certain-teed /Products— 4% % prior pref.- (quar.) Chain Store Investment Corp.— 4% % conv: pfd. (quar.) ';T-is'^. 1-15 10c (quart) Dome Mines, Ltd. 1-11 1-29 37 %c • 1-28 3oo- '"2- t 1-29 > 1- 3 933/4C 20c Dodge Cork Co. Dodge Mfg.. Co. 1-15 $1507$$1.75' jv-V ■ • Common■ (quar.)i. JJ_—_ZZ-, Z Central Kansas Power,-4%% pfd. (quar.) Central Republic Co. (year-end) T- 2* Central Ohio Light & Power (quar.)— 12-14 2-15 12-28 1-15 (quar.)._^.JB_rf Stove Co. 5%>■ preferred 1-15. 1-13 1-10-» ■ Additional ••••■•• $1.50 Central Aguirre Associates (quar.)__ Central Hudson Gas & Electric Corp,—• 12-30S •'* AliianceWare) Inc.* 77: >5 % •' pfdi Holdert Shaft1 Payable of Bee. _ 1-31 62 %c- "A^ (quar.) Carolina Clinchfleld' ftZOhio V Carolina Power &• Light com Celotex Corp. com. - Aro' Breweries^ Ltd. (quar.)—,-, v partic. Dixon 3 37%C5 6% , :--v 1- $1.501 (quar.) Canadianu pacific ;Railway—. 4% non-cum pref. (final)____Z_ Cannon. Mills Co.- (extra )__>___—v 1-15 ' * 12-23? -. 1 v 1-31 7 $1'* 73© (quarv v__j— 1-15 ; 2- 1-81 $1.75 7 E? 2- 1 7; Canadian - <fc Foreign Securities Canadian General Investments, Ltd. (quar.) Canadian Industries, Ltd. com. (increased) 7 7% preferred" - • 1-15 $$3.50 Quarterly 7 12-31 1-15 Dominion . 1-24 1-15 4o 25c „ (increased) Distillers >• 2- 1 iZ $2 Co., Ltd:— prbferbnee (quar.)Canadian Foreign Investment Corp J Ltd.—» V QimirtqWy7^.,r 7.:.;.:'. r 5C , 1-17 $3 $1.75 Canadian' Converters class Canadian' Fairbanks-Morse 1-13"? 3- 50c Young Distillers 7 90c • - 11-15 2-1 ~ 12-31: . . 50C'r ' . 12-31 1-15 ii ' v 2* I- & " 12-31 $1.12% a_._ B' 1-13 V 90b ' ; ' 5 % preferred (quar.) Canadian Car & Foundry Co., Ltd.-— Common-"' (quar.).Z. J— ; Class A-1 (quar.) j——' '■ l-2tft 1-211 (quar.) 1- 2 $11* B ,.v 40b? Canadian ^Bronze Co.;ZLtdl— Common:, (Increased - quar.) 1-21 '1-20'* 1-15 A .Class 8 7; $250l (A. Canadian - ' v-Wv4 1- Amer. —— 1-21 1 2- -1 6 300 " $$1.50 — ^7%-; preferred' (quar^'TZL-^JiLJ...--^-— Canada Southern Railway '(s-a) _1Z._ :? 1- participating ptefferred (s-a)__——_ Dictograph Products Inc. (year-end) D1 Giorgio Fruit, Class A (inoreased)_—__ at Class S.) Co., common (s-a)ii__t—_ Northern Pbwer, common (quar.).- Canada 1-10 ■ 1- 2-25 $40C California Packing Corp., common (quar.)_ •••..;5% 'preferred 1 (quar.).—_.iJ——_— a-io". r 1-16 72%%' 7 (quar.)v .« V $1.06J/» 1-20 (s-a) Diamond Match 12-31 Ltd.—> — — Campbell 1 25o ..Si Class (quar.). (quar.)i—— $3.60 pfd. (quar.) 6% -preferred (1927" series) 4v: 2- Co.__ Do Vilblss- Co. ordinary preferred -(quar.) 6 %';preferred (quar.) 1-25 ' 93%0 Co. Shoe Extra .; 1-15 1-15 2-15 6% «7 %\ - 3-15 2-101 • (quar.)_ Gas 1 Lines Edison Detroit-Miohigan " vS 1- 4?', $3 J Wheeling 8t Lake Erie Ry. Co.— "14%: prior lien (quar.) 1-10 1-13! $1.12% j - 1-15: i2* 1 . (quar.) _i -.u__ J_ 1-14* 20C 400 ' l-31i ■ 7%cr . Company, preferred"^(quar.). : Burns & Company, class A (initial)—^ ClassB(inltial)__— 7 Buttserfly Rosiery -Mills, Ltd.— 7 7%ypreferred (s-a)j^_—— Byers (A. M.) Co.,v7% preferred (quar.)—-i California Electric Power, $3 pfd. (quar.) ? California-Oregon Power;.Co.— - ;l| 1-14 :15c Ry. Co., (s-a) " 1-15 } 2-28 2- 1- 2J 87V2C ,'isiaay. Detroit Gasket > 12-20; $35c 1-15 dextra)— Air Detroit 12-20I — $3.60 2-1 $1.25 Washington Gas Light, $4.50.conv..pfd, (quar.) ,$4.25 preferred (quar.).™___x_.4_.__'JxJ_ "Well! i(Raphael) & Co\ (annual J Brown 1-13 Z Union 3-* 4 1-15 ClaSS AI Delta 2' 1-15" 00 Elec. preferred' 3-20 , for Brooklyn 1-15*' 1- 50c $1.12ya Delaware Power &* Light Co._ Monte Propeftifes 1-10' 1 : receipts I-I3: Z 1-31 1-16" 2- $12 %Q 7 Brompton Pulp & Paper Co., Ltd, $25c> • Columbia $2 6-18 1-15 common^.— Del 4't $32 %C (final) prior preference 6%'2nd • ;> (quar.) 1-25 ;$38o* * 2-15 :j Co.,-5% Ltd. 12-11 \ 2-15 . 'i 3 1-157 1- : : ■ 3-18 1 30c _______ Ltd.— deposit 1- ' VI 1 7- $1.75 Dayton Rubber Mfg: Co.— /Common (increased quar.) 2-26' 1-14- Corporationj' 3%% preferred series A Davldson Brothers, Inc 12-31 20C Z Eritish Columbia Power, Ltd., class A British - Columbia Telephone Co.--.- - 12-11 i 1-10. Celanese registered . British v 1-10 ' 25c V 10c [5% noiv-cum. class B Walker i Hiram) G.> & W., 1-20 ,y Dana- 4- ^ (quar.)___. common $4.50 participating . preferred Cypress Abbey Co.^w 60c _ participating'preferred American ;; 5*4 150. cl. A pfd: (quar.) preferred (quar.)!__ 7 4-15 2- > '& 2-17 V 194/3C:: (irreg.)^^1 3% % 2- $5". Co.v.-Xquar.}—— Roller British 2-15 20c ' — 6 7 12-27: 1 1 Holdert Payable of Bee. $1.75 (quar.) _a 12-31 3- '.j;-710c (accum,)<* o ' 1-21 • 1-15 ;■> 150*7 :.7" ,i 12-16 ! 1-15 ; $25c 7 V, 1-15V 1-17 $10c ; Bearing-:——,Cordage, Ltd., com. (quar.)—- ,< preferred ^(quar;)i^.-:_"_— j.— Brantford ' Roofing;, ..Ltd.-. .(interim) . ? Bridgeport -Hydraulic Co.. (quar.) Bristol-Myers Corporation— ., 2-261 , 1 7 ;- 2-1 37 %c " 1-17 2 $1.30 .5 % -{Class B)(lrreg.)^_t^^-»,-ilwl^t^-ii-^i Winding Co._jj_,___r Utility Appliance Corp Extra 5- :<}. 2-15 50b Universal ;; 3-12 1' IOC Class Sciver (J: 1- 400 . 1 2- Brantford li *;' 1-15 •$!'- United Drill As Tool Corp. j class A (quar.)_ x 2- 30c -s. > 60c — Edison Bower 1-15 2 15c Ui St- Foil,- class ^ 2- 1 25C" Oilshares, series ;4 Borg 1- 4 j 1 3-15 i". 40c United Coyp.,; Ltd.; $1.50 Class B Van 1 25c 50c !' — (Philip) & Co,__— (H.- C.)1 C6:» 7% - 1st pfd. (Georgh W;)^ Co. (quar.) .'Boston i 4-18 1-15 2- J4 4 1- — A' (quar.)— Bohack . 1-18} 4-30 3- 37%c 1-17 1 30c ______ Foods, Inc. (s-a) Hats, Ltd:; common (quar.) Blum l'i $19c '• class'Altquar.)^--• :(quar.)_____i_;i__£___i______;____ 3-> 2- (year-end) ^Manufacturing 7 Blair i & Company (year-end) —_—; 1-m ' -Special Trustee Standard 1Z: 1 7 1-15- Blnks >. 2- _________ ; 3 87 %c Standard .Silica Corp.' (quar.) !x_1_xxx_„.j4- • Stott" Briquet Co., $2 preferred (quar.)' 44 "SWff.fr- International Co., Ltd!— \ 1 " 4.Deposit certificates, (quar. Torrington Manufacturing Co. (quar.) 1-31 (s-a) 1-30 ; r- preferred 4V2 % preferred (qftar.)___ Cuneo Press, Inc., 4%% pfd. (quar.)j_-a___ Cunningham > Drug StoresCurtiss Candy Co.*-Common —— 1a 1-15 Biltmore 1-31" >Z 1-lRv 25c %o 1- 1-31 $20c 41 )A 2- $$2 Shoe ' ) 1-17 & Berland Loan 1 When Share - 7% w — Hedges, $2 preferred (quar.)_».— Stores .(year-end)— i preferred $6 Corp., 3- Company Cudahy Packing Co., $3 (quar.) Benson 1-13 T 1-15: • 12-31* 35C 4-13 > 42*.L* ■r v 1-14:- . 12-31 1 1-15 --t-v Industrial 2-15 \ 50c - * Corporation (quar.) Telephone Co, of Canada Bell 12-311 1-15 $25c Baystate '■ 1-15 (quar.) Beneficial 25c > ._ & Class A 1-25 z z 50c $5 50' > Per Name of Cuban-American Sug&r Co.— 7 % preferred (quar.) $$1.75 «,■ Beneficial 1-15 13c' . :_x_x Bathurst >1-25 1-22 $1.05 (quar.)__-- (accum.) Canada, Ltd., 7% pfd. (s-a)_ Co.,. common (quar.) i Power Paper Co., Ltd.— 5--I* J. 5c - preferred 2-15* J" 2- 1 : Share 7 " "j . 250^ : , Brothers Class floutham Company, Ltd. (quar.)(.____u_^___ v Springfield Gas Light-Co. (quar. -Squibb tE. R.) & Sons ___" $4 preferred (quar.)-j_ J__4 {Extra _4x_x Tjrane Company Transame ?ica« Corpi (s-a) partic. Bartgis 1-15" 2-15 Company Securities Corp.— Barber-Ellis of 1-15- 'i 1-20 22c>, preferred (quar,.)_______^_„_^_-_i '4%* conV; preferred (quar.1l__J_____l.___' Banger Brothers, Inc.- -(quar.) Segord (Laura) Candy Shops Ltd. (quar,)I_ " Segal Lock &> Hardware 'Co., $2.50 preferred Sharp-& Dohme, $3.50 preference A (quar.)_ • - Best __:.i__;_____:_::ZZZZZZ:ZZZZZZZ^ j4$>- cony, 1-17 50c Rockland Light Power (quart>xJi4-jZxj4 Rutland & Whitehall Railroad (quar.)S &i-W 1 v! 50c 7 - • Insurance Co. (iff VT)--i" Z-.x.isx-xj _Jj ■ r —? 4:7 !4Z j.^Quarterly 4 2- 35c y-44._--.__j yROdn- Antelopfe Copper MlnesZZ""-"""""'"""" Rbchfester.' American' 12-31 35c " Klce-Stix Dry Goods Co., common :Quarterly'' J_. j_I^j ,'V 4 • 7'4 2 25o ' 7v ''' 1- 7%c com...... 'AM* 1-31 %o;. ___ ' %0 87 (quar 6% 3-10? ■ When Holders Payable of Rec. Per Name of Bankers 5 25c (quar.)_. com. (quar.)_ Republic Drill & Tool Co., 6% pfd. Reynolds Metals (resumed) Reynolds 2- 35c 56 (quar.)_ Manufacturing ~3%% 25c _________ £a,<Jfu^d i?' M,) Grocery, Reliable Fire Reliance when Hdldera Payable of Bee. Share common IOC " 50c 12 %c 1-15 1 1-20 1-15 15c- . 12-31 2- $4 56VxC 1-15 v; 1-15 i 12- 25C' . • 1-21 2-15 2- 1 2 1-154 1--3" 12-31 2- 1 W 1-17 General Company Electric *y*->',1;" .' 40c" . 5% (8-a) preterred A (quar.)/*/.* com, _— *.** Mills, General 5-24 1 • 1-6) 2- 1 C 1- 6# 3-12 1-15* Lit Mittle: Miami RR. Cu^— 2..1 12-31 dividend Stock • Gornam- Mug: -? 1- 8 2-1 1- Crandview Mines (s-a) Graton & Knight Co, — 1-31 1-22 1-14 1- 1-25 1-10 40c American Insur. $1 30c 1-15 12-20 3- 1 ; 5%% convertible preferred (quar.)*, —. Griess-P.leger Tanning :/****/ — Guarantee Co. of North America (quar.).*— 2-14 Extra / *.* $50c 1-15 12-31 1-17 12-27 60c 1-15 1- 8 $1.12Va (quar.) pfd. 1-15 12-311 1-14.; 12-10 4>/2% pfd. (quar.) ,$25c Ltd. (year-end) '** *. WW*-* •»•'*•» •&>1 f» I 14'/2C Hartford Electric Light Co— .* $1.12y2 Hat Corp; of America, 4y2% pfd. (quar.) — 15c Havana Lithographing Co., common— 37V2C 6% convertible preferred (quar.) 50C Haytdan Corp. of America-———. 40c Hecht Company, common (quar.) 25c ;■- Extra; **_***;.///**/«,j*//***/ 93%c 3a/*7c preferred (quar.) — $1.25 Hercules Powder 5% pfd. (quar.) .-*• Co.; Battery . Corp., common (quar.)* :\$4 convertible preference, (quar.) */— ""v' Extra *** — #**-.***——■/*— Hibbard Spencer Bartlett (monthly) __*___* Chocolate Hershey preferred (Edward) . Hines 1-21 1-15 $1.25 2- f. 6% preferred (quar.) Hunts, Ltd., class A (interim) Class" B (interim)Hutchins Investing, $7 pfd. 1-25 lc j: 12-31 2-1 12-31* 2- : 1-27 10c $1.50 5c 3-1 1-15 1-15 12-20 " 1-15 $2.25 (accum.) 62yac ; of un- Morrell (John) A Co. 1- 4 2- Extra""/— — 9% 12-31* 1-15 12-27# ^ 1-15 12-14- $37»/2c 1-15 12-14- 650 1-15 12-16 25c t8%c ; 2- i 1-2 $2.50 1-14 pfd. 1-15 Knitting Mills, com. (quar.) preferred A (quar,)—-—— Jantzen 5% 1-15 12-16 12-31 r;'. 4% i 2nd preferred, A (quar.) , $1 2-1 2-1 — Southern Ry., 4% preferred (quar.) Inc., common Kennedy's, -i;; Year-end ". 1-15 2-15 2- 1; 1-31 1-7 -Common 1-20 90c 1-U, -43CV Kroger 2nd preferred JLabatt Ltd. (John), St. John Extra Lamaque Lane (quar.) & Paper Power 1-13 2-15 37yac j-j;-— Ltd.— ; : 1-15 12-23 C; ; - Class Lanston Latrobe A Electric Steel Co., common^ Special -Lebanon Machine _ Valley Gas, 56y4c " 2-. 1 "f North " 50c ■ (quar.)* lrl5 12-31/ 25c — ; 1-15- 12-31* 2-28 2-18 30c 1-15 1- - 50c 25c $2/: 75c 1-20 1-20 i'2-1 8 v ; 12-16/ 1-15 Boston common $3 - 12-16t • dividend . Lighting Properties— (irrfeg.) preferred — .(quar.l t—; j Northern-Indiana-Public 5% preferred (quar.)* 12-31 12-14' 2- 5 Samson 2-15 2-15 : 1-15 12-20 1-15 12-20 1-15 12-14 2-T,/; .1*15"' 2-; l;./ .1-15" " 2- 1 "1-15" 2-1 1*15, 1-15 ' 12-14; 2-15 1-15 1-15 1-15 12-30 3- 1 2-1 ;2-"l-,"/1-15" 1-15 1-21 ; 50c 2-1 15c2- 1 .150//. >2- 1; 3-153- 1. 1-15 ' 1- 4 $l:75:""-l-l5/::"vl*'4j;/ $$LQ6y4 *—..— pfd. A (quar.)**; 13%c 2- 1 • 20c* 1-15 25c 1-13 50c • " 2-10 : IOC - 1-25 25c 1-15 Extra ,;/**/-*/**-/**«**—*—-***——*^—-; : ■ /Xl-"/ 1-15 Schwitzer-Cummins Co. (year-end) *_//_//* SOc.' -1-.16 ' Scott Paper Co,. $3.40 Preferred (quar,)-** ^ 850 •. 2- 1 1-15 preferred (quar.)i**-/~*-« " A Electric, com. (quar.)—;* preferred (quar.) — Schenley Distillers Corp. __***———— Schulte (D. A.), Inc; (initial)*—/--**/—r • Schuster (Ed.) A Co., Inc.—**—**«*.—•—r r •: . 5 "t/75c^^ 1:15.'-^.12-31' 1-15 l-"2? 1-15 # 12-31 3-10 2- 3 1-14 " 12-31 A-Hflpar.)/-./":—.-$i - Co; (N. Y.) (quar.) —* " 12-31 San Diego Gas . 5% Scovill . $3.65 Manufacturing Co.rpreferred < (quar.) Scranton „ • '• "12-31 " 1-20 * • Electric ; — 91V5iC 25c pfd. (quar.)/* " 62yac (Texas)*/****///-'"" •" 15c A Powe* Co. ^increased)"" / t30c America,., com.: ;(quar.)/i """.10c Co. (quar.)**___—*_//* Segal Lock A Hardware, $2.50 Seven-Up Bottling Corp. Shawinigan Water1 SMeraton Corp. of - - 1-11 United Corp.— "" "65c convertible ,* I: " v 35c / 1-15 /12-31'i .**__**!—"*** ''•'- $125 12-31 1-15 1-8 • 1-1$ " 1- 6; $1,25 " 1*12#12-16/ * ■< J, % 4% class A preferred (accum.) —— $250 1-15 12-23 St. Lawrence Flour Mills, Ltd. com. (quar.) . $40c 2- 1 12-01 . ,7% preferred (quaf.) ——. $$1.75 2- 1 12-31" St. Lawrence Paper Mills, Ltd.— , • ' ... " * , / 6% preferred (accum.) «*___—*.———* $$1.50 1-15. 12-23 ""St" Regis Paper, 5% 1st preferred—* 11 l/10c 1-17 —* $30c 1-20 ,1* 6 937/sO 2- 1 1-16 13c - 1:1$' 12-31 r 15c ; 2- 1: ; 1-20 Service—\'; Service-class (quar.) gt. JosephsLt. A Pow. 5% St. Lawrence Corp., Ltd.— ' : . ■ 97'/ac 2- 1.v'/ 1-15 / $3.75" .. 2- 1* 1-20 5 : 5% 2-20 " 2- 1' 25c - / 1-20 1- 6 —_*—/j, 12-31 . 12-31 7% prior pfd. (quar.) <-7- $1.75 * Northern Central Railway Co. (s-a$2 <• Northern. Liberties Gas, — 60c.. North Penn Gas, $1.25 1-15 1-15 2- 1 8- 1 3- 1 Royal Typewriter Cov com.. (Increased)^*—' 25c 7% preferred (quar.) -** : Russeks Fifth Ave., luc. (quar.) ——**.— ... -25c St, Croix Paper Co. (year-end)*—***——.♦ .$1.50 "5 12-20 1 1-21 . • 1-21 12*81" 1-21," 12-31" 50o 5o SOc — ————— preferred-(quar.) ,4(4% Norfolk A Western Railway— V f Adjustment preferred (quar J_* ***"\":>;i' $1":" 2-10 1-15 North:American Acceptance.Corp..(Pa.).— , ; " , • '> > '■ - f . i". J Class A (quar.) **—*_*——*•_'5c (;V;l-20-../': 1- 4/ 1-15 ■" 12-23 1-15 ; (quar.)'——————*' (quar.)— ' 6Vo- preferred / •«. (quar.)—— ———1'_ $$1 $2yac^ / / 2- A (quar.) ; ——— B (increased)————— —* Monotype 8.90% Cash 1-10 1-11* 12-31 12-31 1-15 1- 7* 12-31. 1-15 1-15 1-21/ -———/.i*****-**--**..****--*...**'*^*,.,:', Rio.Grande Valley Qas Co.**-.—^——v^*.v - . 5c. 2* l; ,1-10; Riverside Cement Co.V $5 pfd" (quari)//-//" P $l,25 ; ,,2* 1> ; 1-15" Roberts .A Mander (initial) **——*# ., 10c . 1-15 .12-30n Robinson Cotton Mills, Ltd. (interim)—*/' . , .$10c . . 2-l.v/:..l*. Rochester.Button Ca. (quae.)————. S0q;"//1-15" i Rolland Paper Co., Ltd. com. (quar.)—*—. $15c 2-15 2-1" '3-15 1-15 2-15 2- 1 Extra ■ 1-11* 1-15 1-15 preferreid Richmond Insurance 1-15 ; 1-31 $2. , , • York Power A Light Corp.— ' 12-30" 1-15 $50c (interim) preferred .(quar.)——, United Bakeries, Inc.-— / York preferred (quar.) *_—; -**— Niagara Hudson Power, $5 pfd. (accum.) Noma Electric Corp. (stock dividend) *—--'* 1-15 1- 9" 1-16 Mines Bryant'4^% , ,4zoc j Co., 2- 1 ■ — — Merchandise—— New New l-,2; ij "Rhode Island Public 12-31, 1-15 l-l?:. Corp.— Ordinary -*******-—-***-*-*. Newberry5 (J. J.) 3%% preferred (quar.) New Brunswick Telephone (quar.) 1-6 2-25 $1.75 $2 class *, 12-31 5 IOC : • Gold Langendorf Leath 1-15 : $1 150 — Quarterly z v "" 12-31.. Company—. - (quar.)— Krueger Browing Co. (year-end)/ Lake 1-15 - —l 12-31 1-15 4c — 12-31 / 1-15" $1.50 $1.25 25c 17yac $1.10 95c 50c pfd. (quar.)— 90c Potomac Electric Power, 6% pfd. (quar.)— $1.50 5ya% preferred "(quar.)—————. $i.37ya Power Corp* of Canada— e: " " 6% 1st preferred (quar.) $$1.50 6% non-cum. partic. preferred (quar.)**. $750 " Preston East Dome Mines, Ltd ; $iyac Public Service Co. of Colorado, com. .(quar.)* . 4iy»c "7% preferred (monthly)** " SdVat % /, 6% preferred (monthly) — 50c 5% preferred (monthly)*.———.——— 41%c Public Service Co, of New Jersey— 6% preferred (monthly)/.*-/—*///——*60c . 6% preferred (monthly)*——;/—*—« " 60c Puget Sound Power A Light— $5 prior preferred (quar.)* $1.25 . Purex Corporation, Ltd.*— /**—*.'' 15c ' Purity, Flour Mills, Ltd, com; .(initial s-a)— $25c /"Cum. redeemable preferred (quar.)— $62 Vic Quaker Oats Co., 8% preferred (quar.)/—/ '$1.50 > ' Quebec Power Co.- (quar.) $25c; ; Radio Corp. of^ America, com. (year-endl//* < . ■ 200 Railroad Employees Corp. com. (irreg.)*/_* . 25o ... 1-15 ,12-31 • "■ - 1-15 12-20: ■ 4- 1 Low priced bond series-——_—*--"—***— Speculative series — . 13c Low priced common stock series —— " 2c National Steel Car Corp., Ltd. (quar.)*—— $37y2c National Tea Co., 41/4,& pfd. (quar.) 53V8C Neon Products of Western Canada, Ltd.—v 1 1-15 12-30 2-7 1- 3 2-28 " 2* l" 2-15 : 2-25 / 1-16 . 12-31 / <1-29 ' 112-20/ 12-31 ; 1-20 i 12-31 ■""Clasf;^r.(irreg.).///5/*/*—,—******/.,"25oi" , 1-20 (12-21 " 80o preferred (quar,> —*.***——*——* 20C ' 1-20 12-31'* - 5 Railway Equipment A Realty, com. (quar.) : " 25C v> r i-25 12-31 2-15 t6%11st, preferred; (quar.) /***/*///*l**,/- t . il.SO.1- '?: 1-85 'it 12-31" 5-15 Reed iv. A,);Ctf"$3:Class A; (quar.)//**/*/: 50c : 2-T ";"I-20^ 8:15 Class ;B**— —^*_**—**_... 25o ,2-l.;i-20 1-20 Reading Company, common (quar,)/**'—** ' ; 25c ' < 2-13; 1-16' 12-31 Red 'Top- Brewing .Co.' Clas$ ^';*'T2Vicr;;"T-13",";.2"72/,' 12-31 vClass;1 F:/"i-;*ii/l//*/-*/**—*/*"***//i///*"":12~ "8 12-311? 'Reliance Electric A Engineering— - ; • ;. J", . Irl5 $2:10 ;convertible 'preferred " (quar.)52Vic . 2-1 ' ' T-n,* #; 1-20. Reo Motors, Inc. (extra)****—**/-—'-—//- " $0c * 1-15v 12-12'v 1-20*"" Reporter;"Publications (initial)"?.*/****—: IQc;t-15 •" 1--8 /■ Republic Petroleum- Co. com.*^***-**i**//s.s.~ ~ 12 Vie • - 3-20 - 3-10 1-10 1-20 ":"'-5VSi %■ - preferred" 'A.;• iquar.)***■*«.*——/***; •';• ?■ 68%c>/.2-15"--7''5h :;vRevere Copper A Brass 5'/»% pfd. (quar,)*" $1.3lVi 2- l " -1-10 * 12-10* $1.50 (quar.)***-*--**—**,' $5 preferred (quar.) Edison 3.60% 1-8 8c 10c preferred • 81 1-25 12-31 2- l -" -1-10 / . 2-1 1*10 > 1*20 " 8 $1.25 * 2-i 1 1-20 s v 37%c: ■ > 1-15 2"; 4% preferred (quar.) — ; $1 2-1 1-15 $3.60 preferred (quar.) 90C 2-1 1-15" . Pick. (Albert) Co.,. Inc., common— 20c . 1-16 12-81 5%:preferred (s-a)—.*————***— $2.50 1-16 12-31" Piedmont A Northern Ry.. (extra) $1.50. 1-20 1-0" Pig'n Whistle Corp. com. **———*' 20c 2- X" >• l-16f : ; $2* conv: prior pfd. (quar.) . 50c 2- 1 1-16 Special preferred (quar.) ——30c 2-1 1-16 Pillsbury Mills, Inc., $4 preferred (quar.) " $1 1-15 1- 2 Piper Aircraft Corp., 4'/2% .preferred (quar.) liy<c 1-15 12-31 Piomb Tool Co. '**—** *—* —— 37y2c ; 1*15 12-31" 12-31, 12-31 1-13 3-15 ' r 3-15 " 2- 5/ 1-15 1--2•/ ; 2-15 $$1.50 $1.06y^ Potomac 12-16 12-26 1-11 2-1 2-1 1-13 1-13 2- 1 • 4^; 1 ; 60c Bond series / 1-11 3iy4c . National Securities A Research 1- 7 1-20 - (special)' 6%. prior 12-31. 1-31 Kingan & Company, 4% preferred (quar.)_. Knudsen Creamery, 60c"pfd. (quar.)— :"t> $1 Corp.— 2-1 : $1.12</a —,_*>———*— National Pumps f; . £ Series "S4" • 2-15 30c Extras. — ^ cbnvertiblfe preferred- (qqar.) — 6% pfd. (quar.i—— Keystone Custodian Funds, series B-3—— r 2- 9 $1.25 —— (quar.)__ $1.25 7% 4(4% preferred (quar.) *-———_—*—*_— National Manufacturers A Stores Corp.— 12-18 • 15c Kentucky Utilities, ■ 1-2 35c / ' pfd. non-rum. Kayser (Julius) & Co. (extra) ——— ; Keliogg Switchboard & Supply Co., com.__„ 'r , 2-15 75c $3; preferred B_-u._i_i—_—— Kansas City 5% 1-16 1-15 ' «t;> ; City Power A Light— ■Kansas ■ 1 1-15. $1.50 Joplin Water Works,' 6% pfd. (quar.)-1*—tnc Journal PubL Co. of Ottawa,: Ltd. (quar.)— ; W* 5c K. W. Butery (quar.) i; >»: 1-31 1-31 29%c —*——— 25c 25c National Iron Works—'— 3c : -Extra * *J_—— 3c ' National Lead Co., 6% preferred B (quar.) $1.50 National Linen Service Corp., com. (quar.)— ;* 10c ." 1-11 2-1 2- $1 , (quar. Extra————————*——/- 1-18 87y2c 2- 1 2-1 30c 1-15 i $5o :; 1-15 f 15c 2- 1 80C 2-1 7V2c .2-1 .(Del.)—~ preferred (qiiar.) 4%% 1-15* 18c 30c • : National Distillers Products i-io" $1.06 y» ':,v:'$4': 8c- 37yac ^ 1-15 56y»c 2-1 -: 20c / 2-1 70c 2-1 * — National Container Corp. r 8- 1 6-1 9- 1 A Milling Co.—• 1-15 ,.3-1- $1-25 . 25c 2- 1 10c 1; 1-15 . Battery- Co. -(quar.)****—*-***—* 2:25 2-1 15c V $1.75 National City Bank (N,-Yr) **-*—**—*— National Company (year-end)**_ —* 1-15; 1-31 $1.75 $1.75 —_*—-jlj—.—• National Biscuit Co., common. ——*—* National Bond A« Share Corp*-(quar.)-—**National Chemical A Mfg. - Co, (quar.) 1-21 — —— *— 1-20 1-26 :';'$i;58/^/;l:15v' (quar.)_i__—_*J— National 12c Light— 5 4% preferred (quar.)—i Jewel Tea Co., 4Vt % preferred (quar.) ^John&-Manville Corp., 3J/a% pfd. (quar.) Johnson A Johnson, 8% preferred (s-a)—— Extra— . 3- 3 . . A-Telegraph— National Alfalfa Dehydrating Common (initial) _* a 62V2c Jersey Central Power & 45c 2-1 ;62y2c 12-26 $75o« (year-end— (F. Li) Co., 5% preferred (quar.)—« Mutual,, Inc. (increased) ■ -**—*****-———. 12-16 $35c . Jacobs 'i 2 1- 2* 1-15 50C , 1- (quar.) Mutual System, Ino.i qommop -(resumed) -•-6% preferred (quar.)************_*—-—•* Narragansett Electric, 4y2% pfd. (quar:-)_* Natlian Straus-Duf>arquet * (quar'.)*-.:—-—-* 12-12 $1.25 (accum.)—* International Railways of Central America— 5% preferred (accum.)———L—i Interstate- Department Stores j Investment, Foundation, common (interim) _ 9%: convertible, preferred 1 (quar.) ——1,*' Investors 12-31 1-15 2-1 lc *— *— 8%: preferred Mutual Investment Fund p vl\ 7%, preferred (quar.) ————. preferred ($5 par) (quar. 5% : $1 t$L75 : 1-31 " 4-1 2-15 2- 1 2-1 Plymouth Cordage. Co. (quar.) * * Employees stock **———*——* Portland Gas Light com. (year-end)** 12-16 1-15 1-15 12-31"" * 1-13 1- 2 5-10 -1-15 66^0 preferred series A-(quar.)*———* Diablo Oil - Mining & Development— ,;:^Quarteriy_-*^***i*' ;••• Mullins Manufacturing Corp.— > >$7- preferred (quarJ *-*i-. $7 preferred^ (quar.) *_*—_**_**_—*—_** /£^$7*preferred; (qtfar.) J*—_!.****-—■******—■ Munising Paper Co., 5% 1st pf<L (quar.)*.. 12-31* 1-15 $20c* preferred Paints. :• 1-15 . com. •'"f" 7% International 3-10 (quar.) _________** (increased quar.)—*— Mountain'States Telephope lrl5 5- 1. 50c (year-end) Powders, Xtd., i, * -l- 2* 1-14.. 1-15 ' 1- 2 ' 2- 1 1-15 6- 2 Plan Corp; of America— Quarterly $1.25 International Harvester Co.", common International International 2- (quar.) Mountain 'States Power Co.r com. : , imci (quar.)— (quar.) Milling Co., 4% pfd.. (quar.) — Nickel Co. of Canada^ Ltd.—* participating 1-2 15c Industrial; Silica, $'A % pfd. '(accum.)*—*' Insurance'Co. of North America (s-a) —— . 1- 1-15 10c Industrial Brownholst; Corp.*—'__*—*/*_** Extra., "—/*;**»***>****///: Intercontinental Rubber Co. 8 2- I. 35c ' $2.'25 Mount ;;; 1-11- % 18c **/*<' com. . 12-31 " $1.62Va 50c $1 $48c 62y»c Telegraph. Co. Montreal 12-30 "2-1 Morris Light; com. (increased) international-Bronze $6 Extra—*————— : (initial) /./— Terminal RR. Co., Montgomery Ward A Co., '„/ Dividend arrears certificates— Illinois Power Montana 12-20 $20c Illinois Power Co., 5% preferred (quar.) — Indianapolis .Power A preferred 1-31 r 12-20 1-15 ;;^$L75 1% 2-13 $20c 1-20 t$6 *. preferred (quar.).. class A (quar.).-.-, Monsanto Chemical, $3.25 pfd. A (s-a) 1-14 $1.50 — "^Instalment of. $1.50 for each $20 "l"t"- Pai<l arrears ■.***— 20c ._**_* Monroe Loan Society, *_, —■: ,—•*.**.—*_'**—.— , T-15 • 12-31 1-10" 12-31 — 1-15 12-20 (quar.)*-^^**^^*.*-'**.-^ t 1-14 1-27 " 20c Year-end 6% 1st pfd. (accum.) Monongahela Valley Water Co.— Moir's Ltd., 1-15 1 2- 1 1-20 1-14 $1.50 10c ' ' „ . . $1 12-31* 1-15 40C 933/4C 1-15 1-15 25c —_*_—.,—_— v Milliron's ;__* Mississippi Power A Light— $6 1st preferred (quar.) Mohawk Liqueur Corp; * 10c /— Hummel-Ross Fibre Corp.— 12-27" 12-20 2-1 (s-a) _i 5 % preferred (D. J.), 1-15 ; 1-15 1-15 1-15 25c $1 15c 15c 25c — Miller 12-27 1-20 25c Corp., common (quar.)* preferred (quar.). ~——. Houston juigOb <v Power, $4.preferred (quar.) Moving Corporation (initial) — $1. prior preferred **—....—* Piping & Supply (year-end) Manufacturing, class A (quar.) Midwest 1-15 r 1-15 25c - 1 2 1- . 12-30 1-15 1-25 ' 12-20 12-31 1- 4 1- 7 1-3 12-23 1-20 2-1 2- 1 1-15 $1.37ya 50c 25c 1-2 $1 '. $25c 20c 10c (extra)******* Company, common - * t75c 25c 1-31 1-15 50c 1-31 1-15' $1.75 v- 2-15 ' " 1-31 Mercury Mills, Ltd, (quar.) Meyercord - Company (irreg.i —**i_**i;i.— Mfeh'fwftn /Bumper Corp. (resumed) ****** Mid-Continent Petroleum com. (special) __ 1-31 1-15 . **__ 1-25; ; 75c $$l 2-1 2-1 1-20 $3 • pfd. (quar.)***— Merck 65c 12-31 12-31 12-31 ' .1-15 12-31 ^(quar.)*.*** Mercantile Stores Co., 7% A 1-15 1-15 $1 1-25 2-15 30c * i._*_*—.**„**; Extra 8 4: # (quar.) ——*—: Extra "—.,/.*/*/****-__ 12- 1-25 ,; 8%% ;,v McLellan: Stores 1-8 •. 1-31 1-21 — Holly Development Co. Holly Sugar Corp. Household Finance 1-31 2-15| 2-15 .* Corp.. Radio Hoffman (quar.) 1-15 12-21 1 62%c ' River RR. Peoples Gas Light A Coke tauar.)*——— Pere Marquette Railway— 5% prior preference (accum.)**—*_—*** Pep Boys (Manny.-Moe A Jack) (Initial) Philadelphia Company, common (irregular)* Philadelphia Electric 4.4% pfd, (quar.)— ; 3.8% preferred '(initial) ***—* * Philadelphia A Reading Coal A Iron—-*— Philip-Jones new 5% pfd. (initial)**—— Philip Morris A Co.,. Ltd., common (quar.) *, 12-31 1-13" - Companies, 4% preferred (quar.)* < $1 A C0._—40c Telephone Co., com. (quar.) "$1> preferred (quarO**//**** Ltd., common (quar.)__ .6% preferred (quar.)*— /—*/-._ Pennsylvania Power Co. $4.25 pfd. (qua*.)* * (quar.) preferred $4 1-8 2-15 — —— 1-31 1-17 15c 75c Pennraan's 1- 4 1-16 /"l-25~ Davis Hudson 12-31 ' • 11 $1.50 Peninsular 12-20 12-20 50c 10c Parke, Paterson A Power: A McKesson A Robbins, Inc.— 6-10 - - 1-31 1-31 — (quar.) Lumber 12-31 1-15 6-27 12V2C Higbee Co., common (quar.) U 1-6 : $1 $1 , 1-15 1-15 —_ Light 'Associates— .' $2 • preferred (accum.)** ***_*****___.* Massachusetts Utility Associates— / 5% partic. pfd.1 (quar.) *-—*_*** Massawippi Valley RR, Cor (s-a)——* McCall Corporation (quar») ****** McCoIi-Frontenac Oil, 4% pfd, (quar.),.—— : 150 Extra - "/**/****/—_ $20c $17%tc Paraffin© 1-15 $1.25 $5 Pacific Telephone 12-31 1- 4 Products: *******—******* Screw Massachusetts i • <y*' 5% 1-20 75C MasCo 1-16 • 2-1 .. . - 1-15 2-1 Lighting, common (quar.) __/*/*_** preferred (quar.) ./ A Telegraph-— $6 preferred (quar.). ****** ;*** Penn Traffic Co Panama Coca-Cola Bottling (year-end)**— : 2- 1;';T-15';' -I / 'f :# • ; $1.12 ya 1-15 "1- 1 ; . >■ 50c / -1-15 :. 12-30* 75c ; 2-15 1-2Q Pacific 1-15 12-31^ 12-31 -1- 2 12-27 12-27 2-14 1-15 1-15 1-15 1-15 *—1 Machine (quar.) *-_** .Telephone A Telegraph, Ltd.— Common (quar.) **_.__. 7%:preferred (quar.) * Marshall Field A Co., common (quar.) 12-31 $2.50 Harrisburg;Gas Co., Hart 1-15 2- 1 1-15 1-15 2-28 . ■ $1.23 ; (quar.) Inc.—* •;;; • convertible preferred (quar.) _** Pacific Gas A Electric (quar.)**——*__**-_ • - 50c 8c 4c 37J/aC (quar.) C.) 46c Coast- Aggregates, 4 ya% Maritime 12-31 1-15 /_: /**„w pfd. (year-end)* Co. $2.40 conv. Brothers 1-15 - Gulf Mobile A Ohio RR. $5 Halle $$1.50 i 1-15 - * Marchant- Calculating $$2.50 ; — (accum.) preferred 7% ■ .* Realty Co." of Canada-r- Guardian (R. Extra ; 1 2- 2oc $1.15 (year-end) '* pfd.. A- (quar.)** Co. $2 Class A pfd. Manhattan Bond Fund, Inc.— Mahon 12-16 2-12 2-1 $1.06y» $1.50 $1.06"/4 Mading Drug Stores Co., common*—**i»* 20c 550 preferred r(quar.) »*_i* ' 13%c Madison-Square Garden.*.**.*** *__._—* 20c 1-15 34%c Y.) (quar,)* (N. Co. - 5c i.*** (quar!) preferred 6% : Macy. (R. H.) A Co., 4 V*% 2- 5 . 2-15 1-15 preferred .5% Pacific 1-15 " 12-31r 1-15 ; 12-31; 2- 1 -, $12yac i-*__— u 12-14 2-15 Griesedieok-Western Brewery—.; V $1.25 3iy»c 37lAc MacAndrews A " Forbes Co., com.- 1-24 $1.75 — (quar.)-L.-**-**: (Walter M.) Co. Luscombe-Airplane Corp. 1-17, 1- 2 : 12-31 1-25 1 1-15 2- 1 . 1-15 $2 37yac Lowney :..:"2-'3-' 1-15 lc *—*. ($100 par) preferred . ' 1:15 ■ "12-31 • 90c ' 50c . 1-15 3- 1 50c 1-15 75q- ' • 1-15 15c -1-21 $2 * 2- 1 75o 20c Lowenstein 1-15 1-31 2-24 1 ' " ' - ; 1-20: ' 12-31 £ l.feO ' /1-2Q' ; 12-31 . $1.75 - 4* 1; 1 3-21 37y2c y 2-28 * ; 2-13 " -20c 1-15 12-31)/; 50c : 2-15 ;' 2- T" ' #4%% preferred- (quar.)*****—*•=.-****—* 59%c 2-15 * 2-1/ 2-24 : . Okonite Company (quar.)/ '$1 2- 1 "1-15 - 2-24 Oliver Corporation, 4ya% oonv. pfd. (quar.); $1.12ya - 1-31 1-15 »1« Ontario Beauty Supply Co., Ltd.— • ' * ' 1 12-13 Participating convertible preferred (quar,) / $25q ;; ; 4- 2 . 3-20 2- 7Z;. Oppenheim Collins A: Co. (quar.) **—_/*— 50c 1-15 * 12-30 ' ; 12-28 Otis Elevatop Co.' (irreg.) j***^ . 25c-1-29 /T- 3'" . 12^28 Oxford Paper eo., $5 preferred (accum.)*/* '' •''$!' v;:' 1-1$ '*) 11- -6 .Pacific Finance Corp.,' (Calif.)— 3-10 3-10 $1 50c1 - ' " - - '• $6.50 , common*** (Ky.), 1-15 -1-311 $1 50c Electric & Gas 1-15 r ^ (year-end)*^ 1 500. < . (accum.) Northern Pacific Ry. 1-15*; , .' Share ; Northern States Power (Del.)— - • * * 1- 2 : ;• -7% /preferred (accum.)__• *•***_->*-**--* 1-15- . 1- 3 .****/«* 5 1-15 . 1- 2- rh '6% preferred (accum. )_•_*■_ .1-25/. ^1-18/ : : Northern (States Power (Minn.)— $3.60 preferred- (quar.)*-* !***_-*-*_.5 2-1 : - 1-15 I • 2-1 . 1^21 , ■ Northwest Engineering 4-i"l; /; 2-15 ; ; Northwestern States Portland Cement— •Quarterly.':/*/***-***-/'***;* ____******* ••• 3-.1 ; r2»;l<. Norwalk Tire A Rubber Co. (year-end) ***** < 3i>.1 ; 2-1. Oklahoma Gas A -Electric 4% preferred**— 1-15 12-31 Oklahoma Natural Gas Co. new com, (initial) -' .. 5%;preferred ($25 par), (quar.)*,—.—« (M.) & Son com. (quar.)*** * ; ;;; 1- 2 2-1;' 35c •?: 6 preferred . (quar.) (initial) Luzerne County Gas A Electric— 4 ya% preferred (quar.)— 1-15 $2 *_•_* 5% , 1-15'v ;V: 1-2"' 12-26 1-15 25c jr (quar.) Great LouisvlUe 2 50c : com.--—— preferred • 33y3% & Cold Storage Cold Storage (year-end)—■*,* *_». Co. Union •7% 1-25 Warehouse & Grand Trunk Grand 15c 1-16 Warehouse Terminal Grand 5-27 x $1.12 Vi — _"*/—— (year-end) ——— (quar.) vo, 12-31 i 1-15 : Hosiery Co., Inc. Gotbam 1- 2 1-15 .1-31 (initial quar.) ——— preferred (quar.)— I Gladding McBean A Co. (resumed) Golden State Co., common (quar.) 1- 6 " I $1.25 (quar;)* -$4.50 ; 12-31 6% Little ; 50c < Gimbel Brothers Inc. new com. t-':: 2«. 1-16 '/ Brothers, Original capital Special guaranteed (quar*) Schuylkill Navigation RR. A Coal Co.; Semi-annually 'i.******_***j**** Loblaw Croceterias, Inc. (quar.) * Locomotive Firebox Co. (year-end)-^**-*— Lopghorn' Portland Cement (year-end)***--.-;^ Longines-Wittnauer Watchr common-(quar.) Lord A Taylor, 8% 2nd pld.-(quar.) Los Angeles Investment (quar.) 12-31 2-1 5-30 . ***C—--**-**_***i.w_> 12-27: 12-21 ;; * Gillette Safety Razor Co.-* common $5 preferred (quar.) .Extra 12-27' - 1-15; ,,.25c (resumed)-. Co. ; 1-15.: . (S. A.), preferred (s-a) . 1 2- " > Refrigerator 2-18^ > 2-15 $1.37^1 Gibson : 2- 1 .1-22. , 37yac 37V2C 7c; . : 96^c ' v ;12yac $2.50. , ~ 50c . Corp., prior pfd. (quar.) _**: Lerner Stores, Corp. (increased)-**; **<.*»' Le Roi Company, common^***-.******; Less; (J.) A Sons,;3.85% pfd. (initial-quar.) Liberty Loan Corp, 30c pid. iquar.)^*^***** Linen Service Corp.; of Texas,. $5 pfd. r(s-a)Link-Belt i Oor (quar.) * ; . 1-10* 1 2- • 50c 10c . Letcourt Realty 2- . (quar.)_—*L„__* Leece-Neviile Co. I__*_« 933/4C tquar.) ,—./** 25c General Outdoor Advertising Co., common¬ $1.50 er preferred (quar.)-.—**-*, General Products Mfg, porp., Ltd.—> "„t50c. ,»Clas A (initial)--***/*-*/*//****.*/**_.—;., *50C ." Clas3 B (initial) ******_.,.**.^,** .***_*»■ "■"■5% preferred (s-a) ./* -/-" ;$$3.50 General Public Service Co.-r*. $4' convertible preferred (quar.)—***—* #$5.50 preferred (quar.)** .; .*/,$1.50 $6 preferred (quar.) *—. .**,****. ■ \ $1 General Tire:A; Rubber Cov (extra).— $1.75 Georgia RR. & Banking Co. (quar.) *_ 10c Gerity-Michigan Die Casting (initial)— Gerrard . 37'/2C Motors, preferred $5 1- .2 -., 5-10 J * ; $1.25 In<"/_*_//*.-*-**---*~.-*-.--*3.75 pfd., (Initial quar.) **; General 1-15 Name.of Cdmpany ' . ; Holden Payable oi «ec»- : Per • ■' When .fi./■■j.v-t,:!. /""My/:':; r Companyshort jPayable 0/ Rec.i .f Lee Tire A Rubber Corp. 12-20 1-25 .5c' 25C'?:', ' General Finance Corp. Name of Payable of Rec.y Holden When Per Holder 1 When Per Share - Name of 13, 1947 Monday, January THE^COMMERQIAIi $ "FnJA&CJA^ 252 Extra ' . Mtoes, '.Ltd,;- 1-17* "3-1"/ 12-14 /•' 2-;T"- 1-10 c 1-15 / 12-31'"/'1-15 s" 1- 5 \Sf-2-25J"": 1-16 ""/2- 1 1- 2 - f" '.2--1 ',1-10" r'"." $20c ;'./ 2- 1 1-10. (ye'ar-epd)i."^/"*^*^**./^""^2dc/;V;^i:28"iT2;28/ Silverwood Dairies, Ltd;* ,40c 'partic*. Pattern 5Vs % cpnv, pfd,- ./ Simplicity 1- 2 - l~ 2 1- 6 - of Canada,' Ltd-.^/""/:;""/", (increased quar.) :*/> ; 420c Sherwin-Williams Co., Common 1-6 - pfcUl'mj,^.v.W'$20Q *, »;,4V 1 (quar.) ,> ■ /-/n/i 12-31 Volume 165 THE COMMERCIAL & FINANCIAL CHRONICLE Number 4559 253 -4. ;■ i> Name of Company Oil Slater (A. '• v —. Ltd. (quar.)__ Corp._____ Smith (Howard) Paper Mills, Ltd.-— Common (quar.) -___ : V 4% preferred (quar.)_ - & Co., , i Manufacturing Corp,-*-* 55c _ South Rico Porto Southern .. California ''37VaO--' 0 16% Power-—' Southern " — Colorado - Co 4.8% preferred W 1 :,-v preferred 1-14 ( Standard ' Dredging Corp.— convertible preferred $1.60 40c tPayable in U. Works V ,1-31' Phosphate 1 756 V^c 2—1 93%c (quar.) 1-15 S. & « Steel .50C ^ Co. of Canada, Ltd., com. (quar.) preferred (quar.) Stetson (John B.) Co., common (year-end) '■*<8% preferred (s-a) Stevens (J. P.) & Company— •8% prior ' 1-15 1-15 37&0* Mfg. Co. (quar.)___ Traders Building Assn. Ltd. 3-20 2-15 2-5 1-15 1- ■ Extras United * 1-15 50c : 1~ 2-1 company 11 1/lOC 11 l/10c 2- 1 1-10 > 1-15 1-30 11-19 Earnings .. .. »ii I..I«. The V (> ' 3-20 1-10, 2- 8 1-15 on 2,000,804 3-1 2-1 53c 3-1 50c 2- 50c 3- 1 U. S. Rubber 8% U. (initial period End, Oct. 31— $ ' (accum.) ^ ^ 7 ^ and income $8.99 * Net V. Total revs; and. 4nc.^« 1* 2 39,394,636 expenses taxes Int. and disc, 2* 1 1946 *'1945 . ; 1,702,08G — on *$545,360 $2.66 2-1 1-15* 2- 1-15* 1 •Rail 1946^10 Mos.~**t$45 ^ r.'tr s " <|» ^ r .3l' 1 *' •Payments p.,3296. to . ,1-15 12-28 1-15 16,246,537 62y2c net and rail 1,103,184 for 1*15 1-25 1-15 1-10? . 1- , 2 1 1-16 1-31 1-15 2- 1-17 2-1 $2 4->,.i- 3-20 7-1 6-20 60o .. -i—-——4—: Virginian Railway, 6% preferred (quar.)— 2- 1-21 1-15 1-10 50c . . — 5c t9c 50c • 1-15 1-10 1 3-15 assets are Federal 37y2c 6 % preferred preferred (quar. ——u— 25- 1 8- 1 1-15 1 3V/aO :37yao (quar.).--4—«4—. ,6 % 1 4-15 ; .';,7-15': 1-15 2-15 ' 13V4C iir'-':Monthly—i 3-15 1-15 , 5 viM 4 2-15 2- 5 3- 3-15 .• 2- 3- 5- . 5,802 128,984 . » < 83,634 13,364,723 85,803,020 136,675,650 , 1-20 1-10,. Warner 1-15 -;;.":1- 2' class $1.35 Class A 30c * (quar.) , - • ■ ■"/ 333/4C — 2- 1 1-15 62V2c 2-1 1-15 37yaC 2- 1 1-15 $2.50 ; 6- 2 5-15 (quar.) v $1.25 5% preferred (quar.)____4>_V_'„>._„_ i $1.25 Weatherhead Co. $5 pfd. (quar.) "$1.25 Webster Tobacco Co. (stock dlvidend)"-,___ ': K 10% Wellman, Engineering Co. (year-end) ', • ,15c West Penn Electric, 7% pfd. (quar.)^. i $1.75 :. 3-1 ; (quar.)„. Gas Washington. Railway & \ 5% preferred (s-a) x.;5% S_ 6% West ' 4- Lights--—— i Electric— > preferred preferred Penn (quar. Power Western Breweries, Co. : 4»/2% Ltd. iluT-* pfd. (quar.)— (quar.)„__ $150 "$1.12% v 120o $218,388 $630,219 1944 $694,691 4X ' ? >„fL 1945 1-f.• 1943 $469,992 $84,506 lk 3080. p. sales——.— income before for Subs.)—Earnin^-^"* 7* '^ MONTHS ENDED SEPT.-30, taxes— income v.: '• ; -■ taxes— v; • 5 1946 $13,027,736 1,634,788 — -655,606 • 1 '-'•$979,183 1,137,149 shares of on sto-4c___ common for Refund of State - franchise $0.86 < taxes, cf prior -years.—V. 16$, Net * 1946 1945 1944 $1,960,027 '745,000 $3 055.999 $4,181,61$ 2.200,000 3,300,000 —- $1,215,027 $855,999 $881,616 shares——__—* 483,316 222.855 222,855 $2.41" $3.66 ,$3.7$ profit common Earned per common share > I*- cf as Oct. $50, par based on income Reo Motors, 1946, showed on —V. per the in effect since Oct. 1947, is being Exchange. 1 .3, $2.94 terminated continued ' company has effective by the . at the close Committee on of business Listings • of • "1945 1944 ' - . —... Federal plant in on profits taxes, income. JAfter readjustments which fAfter for reserve charges to rmeiot'nt'on reserve abnormal represent and of $1,454,973 costs for incurred fdr to conversion peacetime production and resulting from delays machine tols, equipment and raw materials; also after of credits of $475,000, of Sept. 30, As renegotiation and prior to provision for Fedenil excess taxes receipt tax the: ; for reserve post-war Jan. " 1946, the corporation had backlog of $77,608,000', a of which $29,810,000 was in firm orders for Reoubl>'« R^rhow transport ap¬ planes and $47,798,000 was in government orders for J-84 jet fighter^ XF-12 reconnaissance planes and other military proiects. In add'tion, the Aircooled Motors Corp., a subsidiary, had a ba-klog of $7,715,000; of which $3,810,000 was for business other than with the parent conq- i ■ ... * _________ . informed the Exchange that it intends to file ' 1946 24.414,650 17" *39 973 210.671,R4l '•Profit after charges 1,450,257 •6,565,288 *14,943,944 tNet profit f 1,479,716 fl.313.288 t2,506,721 Eo, of capital shares——. .982,406 982 408 X 982.40$ Earned per -share... $0.49 $133 $2.56 1945, by order of the SEC, and which 16, 30-*' Sales income and for an additional listing of its shares in the latter part January, at which time the question of reinstatement of the issue to dealings will be considered, according to the announcement.—V. 163, ■ $3.64 Republic Aviation Corp.—Earnings— . of 659. $3.40 $2.41 3943 $1,369,230 . 163, P. 2013. 9 Months Ended Sept. > plication p. 1944 $1,695,168 unrealized. appreciation. ■ Co.—Suspension Terminated— Commission has The 1945 $1,651,082 share— com. a Red Bank Oil has been k* 1946 $1,160,492 Net profit Earns market quotations and are before any allowance taxes Inc.—Earnings— 9 Mos. End. Sept. 30— 31, last, of $10,210,593, equal to $2,552.65 bond, $152.28 per 4% cumulative convertible and $25.57 per common share. The above The New York, Curb Exchange announced-btt' Wiig. that ihq- sus* ; pension of dealings in the $1 par-common stock of this company which ■ *-;'v'■ pany,--. Red Owl Stores, Inc., Minneapolis, Minn.-—Stocks Of? fered—As mentioned in our issue of Jan. 6 a syndicate 5-15 f: 6- 2 :i-i5 1- 2/. PURPOSE—The be $1,982,000. 2-15 2-15 ■ Of net > proceeds such ^ approximately $800,000 in net to be received by the company will expects to use reduction of its bank loans, and expects to proceeds the expend 2-14? and ; -1-17; 1-17 for N. "'1-15' '12-20 * of '1-15 12-31 of for equipment of its general office being constructed at Hopkins,. Mihn.; $300,000 equipment of the warehouses at Green Bay,- Wis., and Fargo, D.,. which it expects to construct -in the future; and the balance the proceeds will be used in 'the modernization and" expansion approximately $500,000 warehouse building :^ts stores and for?;additional working •capital,--^-syr:^t)l1rV%'-'-v-:-.;-'. - registration statement (No. filed 6778) covering 100,000 shares (par $50) withdrawn Jan. 3.—V. 164, p. 3296, w't.h convertible ; - , » : the SEC preferred Oct. stock 9 was , Republic Investors Fund, Inc.—Net Assets— Net assets . the ' p. } ''■» of Sept. as stock, common 2449," company ' 1-15 ' • The Jaffray & HopWood and J. M. Dain & Co., on Dec. 27 offered to the public 15,000 shares of 4%% cumulative preferred stock, series A (par $100) at $104 per share and div. and 50,000 shares of common stock (par $3) at $10.50 per share. Further details follow: " 3-"l Registration Statement Withdrawn- headed by Piper, 2-15 B Washington 413,350 $195,304 " 1-15 , 1946 ^ Number of 164, ■. - ^ ■ 5 12-31 $4.50 pfd. (accum.).——$1.50 Vulcan Detinning Co., 7% preferred (quar.) > $1.75 Corp., (year-end) $631,738 ' 348,000 Reliance Mfg. Co. of Illinois—Earnings— "• . Visking Corporation, class A (monthly). ; - 13yiC Monthly ; f-' 13y»c Monthly; 13Y4C /: Class B (monthly)-i-.-—• l3y»o Monthly —4—— 13yi0 $543 304 • $218,742 ' 9 Mos. Ended Sept. 30— Profit after chargesl While the net decrease during the year to $10,210,593 from $11,586,433, the company points out that approximately $581,283 of -the decrease resulted from the premium and expenses' incident to the retirement of the 6% preferred stock and the issue of the 4% preferred ^ stock. Also a distribution of $244,710 was made to common stockpolders on. Oct. 28,, 1946, from capital gains realized on sales of securities. Capitalization as at Oct. 31, 1946, in the hands of the public consisted of $4,000,000 of the 3%% bonds,. 40,785 shares of 4% preferred stock and 163,140 common shares.—V, 164, p. 3149.. assets 1-15 1-10 ;-|j 3- 328,976 charges, but before Federal income taxes.: -V. 162, •Before -.Quarterly ——————.—4 " Syndicate, Inc. Viceroy Mfg. Co., Ltd. (lrreg.)— V Vicksburg Bridge Co. (year-end) 6,270 ■ provision of $1,000,000 for replacement of "iast In-first ouK' inventory of the company and three subsidiaries at estimated Sept. 30; 1946, replacement costs. Also, net profit includes $101,205. special 1,067,729 carriers—express' privileges.—V. other ' shares, net.assets 12-20 2-1 10c 50c ———15c l5o $638,009 27,208 Co.—Earnings—. Net 13,636,531 107,688 11,222,811 rev- collateral trust 3>/a% per 12-27 • 1-15 $1 50c' $832,433 613,691 26,65$ .. P - Railway & Light Securities Co.—Annual Report— 12-27 1-15 . $770,255 $570,513 v —V. 163, P. 2013. 1-10 1-20 $1 . 61,712 $611,359 Jj(f "-After 12-20 1-15 '87VaO HMjC (quar.) 28,414 inc. profit^..: Earnings per share ,, 1,373,072 , 4,667 . transport preferred - $894,145 RESULTS FOR THREE funded 111,193 12-27 shows ——. $798,670 Federal tax provision 12-27 1-15 ———— Company 46,341 Reeves Brothers, Inc« (& 1-15 1-15 $1 $4 convertible preferred (s-a) "Warren Brothers Co.— 32,152 « $441,279 profit 36,993,598 353,358,605 368,156,302 22,142,313 250^70,880 216,692,758 26,353,879 w-_- -debt » • < 4—— Venezuela Vulcan $524,171 Quarter End. Sept. 30— Vertientes-Camdguey Sugar Co. Of Cuba^— v 3,355,285 $861,992 income •Net '"i'v/2'^ k ...The company, in its report for the fiscal year ended Oct; 31, Universal Leaf Tobacco, common (quar.)— Universal' Pictures Co. (quar.)— ' D 4 19,663,492 4,546,984 ——— Reed Roller Bit ; ;V Express 1-2 1-15 20c United Transit Co., 5% preferred (quar.)— Utilities & Specialty Corp. '.'Class 26,062,314 5,280,244 165, p. 112. — 36,524,247 348,249,771 364,104,254 " 469,351 5,108,834 4,052,048 568,673 revs, Operating -1 1-15 10% United Inc.,. (quar.)— ' " • Other 25c —— — Valspar Corp;., Velvet. Freeze, > Quarterly - 1 3946—Month—1'945 2*15, : 25c • , dividend). quar.) pfd. - Net Chgs;;foif transpbttatidh: 38,825,963 , Wallpaper, Inc. 4% 30,345,429 3,119,361 Ltd^Earnings-;^^ C 1-15 S. United 18,593,935 ' taxes on Provision BOc'T^l^l *M"t*15 —$1.75 Smelting Refining & Mining—► Common (resumed) : -1% preferred -(quar.) v —^ United StockyardSj 70c conv. pfd. (quar.)__ , • ^ (quar.).. -~r rr * 160, p. 2188. Other* deductions v declaiming—>' prior preferred i "1"'v v Sept. 30-w 2-15 . 1 I •('« :■ "" . ——Fiscal Years Ended—— 12,214 income for credit 35o '4,000 ' Railway Express Agency, Incj. (Incl. Subs.) -^Earnings $L25>"7-- X ,50c * * 1,200 STATEMENT before taxes inc. on taxes i -1. . 5,000 $786,455 charges Net 1*15 25c common 26 Wks. End. 6,000 1,500 INCOME " I— 10,000? 1,800 1946 • _ii.V ——— 12.500 ' 3,000 : __ totaled $8,572,000. For all of 1945, it re¬ net income of $3,558,336 or $1.76 a share.—V, 164, p. 3296. a •Net income.—V. 1-15 - 12.500 3,750 ' St • ^et/loss^^^4---.44^4i4i^-.-i—-^4,^ i' $130,772 E»tns.,c per sh. - on 137,500 common slis, routstdg>;> ~ — 2-15 53c , 3,750 Company 1 Net 58 %c I ,i * SI t'S). r ;-i:;T» Common t - Preferred $22,499,752 $36,487,666 $31,133,671 $23,630,137 ■4 2- 1 Extra New & w* . number. : outstand. common shares Railway Equipment & Realty 4gon< 12-19 58yac JJ. S. Industrial Chemical Co. (quar,)-.--— ' Dain Cost of goods sold, ihci. warehousing exps. Oper. exps., incl. selling, general' and admin.--* net profit of $11,989,662 or $6.02 each on outstanding for the six months ended on a shares when 9 Months Ended 1-15 1-15 50c 25c United States Plywood-— Net •After V 12-31 2-.t 87%c. common 1946, 12-31 i — follows: as • the " —$31,510,537 showed company 30, ported /m'Tv' 1- 2' 1-15 1-15;... • 10c 4 Extra v are ;; underwriters and retail 13,159,000 per share June 12-31 4-1 25C 4.—4. (stock M. , i..4™4—JJ&L $18,351,531 1,952,004 1-15 25c carry the agency operator _. before taxes Net income- : ■ 12-28 2$1 ;? ;___ nine in and cash a \ , of the / Woodard-Elwood Prov. 1-25 , communities on corpdr" company 1-31 1 62 %c ; being* were the Sept. 2, '46 Mar. 4, '46 Feb. 26, '45 Feb. 28, '44 sales—_____ $16,456,972 $27,247,352 $23,268,494 $17,416,293 Wholesales sales_„_v 6,042,780 :< 9,240,313 7,865.176 6,213,843 Net 1-31 2-15 62 %c dsr 2- (quar.). V, S. Air-conditioning: Oof p.— 7% preferred A (quar.)_ U. S. Fidelity & Guaranty (Bait.) purchased shares preferred 10,000 Provision for taxes « common various entirely The Milwaukee. Company Kebbon, McCormick & Co Kalman & Company, Inc.->! Other 2-15 ' $1.50 (quar.) Profit-Sharing Corp.— 10% preferred -(accum.-)——-— United Shoe Corp., (s-a) — Co., and CONSOLIDATED RESULTS FOR NINE MOS. ENDED SE^T. 30, jV .fa—m _ Lines <. names (Including Paco Tankers Inc.) Net profit 60C United S. ' • be Other income 1-10 7$1.15 Extra to Net operating profit- 12-20 25c U. in arrangement whereby CONSOLIDATED 7 1 < (s-a) ; $1) (par ^ • ;= 18, 1946. J. 1947, totaled 217,967,000 kwh., as compared 180,912,000 kwh. for the corresponding week last year, an increase of 20.5%.—V. 165, p. 112. " 1 15c 1940, a specified part of his food product requirements and its subsidiaries. Agency stores totaled 371 oit company shares V„' „ Electric output of the operating companies served by this corporation 2- . 4 contract a purchase the ■' with 2- $1.50 prior preferred (monthly) < prior preferred (monthly)-; : €.36% prior preferred (monthly).. 6.36% prior preferred (monthly) ' 6% prior preferred (monthly): j. -6% prior preferred (monthly)*—, United Merchants Sc Manufacturers—y> «ov i f> % preferred (quar.)—44.-.' "Q-'l 5% preferred '(quar.).— ——4-;.'. •' stores almost Piper, jaffray & Hopwood_„ 1-17 7% i1% ' >of for the week ended Jan. 4, 4 : $5o , stores 141 ':v: letter of notification with the SEC a 24,700 shares common stock $1.75 . (quar.) (: j to agrees from Corporation and Jan. 7 filed on 12-18 light & Railways Co.— United > Public Utility Engineering: & Service Corp.-*-Output—* 1-10; 1- 4 - 1-20 $1.25 Cigar-Whelan Stores Corp.— convertible preferred (quar.) $3.50 food operate 3-20 2-1 ► 250 (quar.) Street Corp. Share retail Publicker Industries, Inc. (& Subs.)-r-Earhings— United Fruit Co. (quar.) v ;V $1.12% ; California of & assistance- under funds, less _ 1 Corporation Co. 1 7%C Tuckett Tobacco Co., Ltd.— 1 -7 % preferred (quar.) Bond 1928, the name of "Red Owl Agncy." To tnese stores the com¬ furnishes sales information, advice with respect to store layouts bookeeping. methods, advertising material and other necessary pany •and ■::,■ < "4' V4 dividend. (par $10). The common will be offered at $1 per share and the pre* terred at; $10, 'per share without, underwriting, „PrQceedsr. will, l?e used for' working capital",: '1-10 :• siy«e (quar.) 4 Towle Oil for 2 4- - 25C Co., new com. (initial) preferred (quar.) Thermoid Co., $2.50 conv. pfd. (quar.) Union 2 1- 1 $2.40 Udylite 'yj;--'1 ■ this . The 4- — Tacony-Palmyra Bridge Co.*** v 5%% preferred (quar.) Taggart Corp., $2.50 preferred Teck Hughes Gold Mines (interim) Texas Power & Light, 7% preferred $6 preferred (quar.) United tax. for Public Industries, Inc., New York—Files with SEC— 7 i-io: 1-25 25c Thatcher Glass Mfg. 4 1. 1-31 50c Inc., 30c pfd. (quar.) Sun Oil Company 4%% Class A pfd. (quar.) Superheater Co. (quar.) Super Mold Corp. of California (quar.) 208 South La Salle 1- $1 Sun-Kraft, ' in Ih 1937, the company commenced ooeration of a. merchandising' plan whereby independent grocers are licensed to operate retail grocery 7-21 ;l 1-^ 7 1 2- 50c —44 preferred preferred $1.25 12- 3 (Continued from page 216) ' quar.) (quar.)« Struthers Wells Corporation— > 7-31 1-15 218 which 4V.'1".:'7'y;f 1-10 if' 775C ____ _ (initial 37%c Investment News 1-10 2- 1 775C • _ Common closed General 3- 1 3-10 k-2*. i - $150 410O " 7% Stix Baer & Fuller (extra) Stokely-Van Camp, common and, 18, UNDERWRITERS—The 1-15 2- 60c class A' (quar.) (quar.) thereafter In that year the assets and business of the Minnesota were sold to the company. As of Nov. operating states, all of Nov. Acid (quar.) B name, were^opened Ibasis. 15% Canadian non-residents' tax. funds, tax deductible'at the source. Non¬ resident tax 7%. • a Less British income tax. / / -r t v ' Class income not 12-31 3- . preferred A (guar.) Standard Steel Spring, 4% conv. pfd. (quar.) Stanley Brock, Ltd.» 4-19 15c outgrowth of a single reta'1 store established in 1922, by the company's predecessor under organized as a Minnesota corporation-. Additional* an Minn., ;?,;\vas Canadian in 2-17 1-15 3% % Wholesale Jamaica books ^Payable 3-1 similar ration 1-21 (quar.l —i of* { • • operated. 1-20 4-30 : is company Rochester, a ' (quar.) Standard Fuel, Ltd., 4%% preferred Standard Oil Co. (Ohio)— Standard The ^ 1-31 * • 87y2C stock, series A; . 2 37'/2C , preferred 390,620 shs. conv-arsion upon similar 'stores rf4. 1 - (quar.) preferred resident tax 15%; , —--.i. 19-11 25c cumulative issuance 1928, in , 1-15 7 $1.25; ' 30% •Transfer 1-14 2- 1 40c .v$l 1-15 1-15 2- 1 for stores under Less x ■ __ 1-31 (quar.) Corporation 1-13 r 350 1-10 1- (monthly) 15,000 •750,000 shs. reserved is engaged in the sale of groceries, fruits, vegetables, meats food products at retail and wholesale In the States of Michigan, Minnesota, Montana, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming. * Av : series A_._»_ shares ">i:« "r 1,000,000 1 t.Iowa, 12-31 h 1-15 convertible York 1-15 and • $1.50 • 17, 1-15 ' 25,000 shs. (par $3)_..__„_ 120,000 Outstanding. $300,000 ? HISTORY AND BUSINESS—Company incorporated in Delaware, May •.n 1-15 FINANCING ,;••• ■ $1,000,000 issuable in series 15,000 shares of 4%% 1-21 12-31v 1-15 " - convertible convertible preferred 6% Company 4~4~*(E. R.) & Sons, $4 preferred (quar.) Chemical, Ltd.—,, ~r ,r (quar.) Company— preferred 6% Standard 5% Cab 6% 1-15 2- $1.50 > Spotless 1-20 Yellow 12-31 $1.20 Southern New England Telephone (quar.) Southwestern Life Insurance (Dallas) — Squibb • the '> ■' 1-2 1 2- preferred (quar.) Wrigley (Wm.), Jr.,, common ■'■<[[ J, (quar.) 2-15 1-15 ' 12%C .*•; 12-20 1-15 $$1.50 & 125c ». __ Power 4V?% • Southern Indiana Gas & Electric— • 12-31 whioh 1-10 1-15 1959__.-_ ($100 par) Common stock $2 . • : > ^ stock 1, t;.v4?/4% cumul. pfd. stock ,{'$1.75 , <.t Pfd. 1 ^ 1 2- $1.25 (quar.)4.—; Co.— preferred (1897) (quar.) Wisconsin Gas & Electric Co.— 12-31 1-15 Power 2- PRESENT - 1 2-15 25c preferred (s-a) Water, 7% preferred Electric 2- notes, due Nov. ' - (quar.) 4% 1-15 t 2- —93%c 6% 12-20 1-15 6% Wisconsin 12-13 2-15 5c $5 pfd. TO 3%;notes,-due*$100,000 annually Nov. 1 •''■ 12-13. 1-15 •; 4: : — 1-15 ; Products-r- (quar.) EFFECT Authorized .1-15,-12-13, 75c $1.25 v; Wichita 1-20 37%o • Chlorine Wilbur-Suchard Chocolate, River Oil Corp 12-20 ' (quar.) <quar.)__^ preferred Corp. Co., common Wichita •v 37%c • wi-.- v participating preferred (quar,) Common ;• • 1-15 (quar.) $3.75 12-16 1-15 37!/2C . preferred A Whiting 2-17 v v^' 2-15 Ltd.— ........ 1 lr 2 1-15 35o Pacific RR. Westvaco 1*15 . (quar.) Southern California Gas Co. 6%«<pid. Preferred A (quar.) w____ Canada 2~ 1-31 - $1.12 Vi —i; Edisoft Co., (quar.) original preferred •«'> 5 % % preferred. C ^Southern 100- .Sugar .(special)j—• ' 5% 2-15 13%c : . Common . ■ ; ; • . Western $5 > ___ Coast Corp. (resumed) South Pittsburgh-Water Co.'— 4%% preferred - (quar.) - *' 12-31 - CAPITALIZATION GIVING Payable of Reo. Grocers, 12-31 • • :: J50c 6 1- Holders When Share 1. 1-20 -ri-16 1 2- 3 • ~ >' - .•> .::Vv?' 725c ■. . - pref. A (quar.)-.. conv; South " -* „ .: , Company Ltd., class A (quar.)._4. $37y2c $1.40 preference (quar.) ^ ' J35c 7% preferred 1 }$1.75 Western Light & Telephone Co., Inc.-— .•- 5% preferred (auar.) ■ 31 %c 2- 25cT * Western It 15 1-20 730c O.) -• Solar 25c .,^' 2-15 - Per Name of Payable of Reo, Share . Corp. .(quar.) (N.) Smith > When" Hoidert 1 "-r"'- ,i j. Sinclair ' 30, 1946 were equivalent to *3.64 a share on against $5.59 > 7 *" a share on Sept. 30f>,1945.—Y. 164, f 4 Y. V - . ' ' " 1 * '* ' ^ P; Reynolds Metals Co.—25-Cent Distribution— f r The the directors common amounts a were total* of 75 p.-3149 * have declared a stock, payable Jan. disbursed cents per on dividend of 25.-rents 2,- April share in 1946, c-'nr;' as , if 1'^ ( —'£r per 20 to holders of record Jan. Jan. 7 ■ • tjvl"' ' v share 15. ori Like and net. 1, last year, or against $1 in 1945.—V.' l64i 1 t:. .• ■ • *• •• -• - '• : ■ - 1946 V >.$6,274,983 Sept. 30— 9 Mos. End. ^Root Petroleum Co. («& Inc.—Earnings- Brass, Revere Copper ,& t 1945 i . 1944 Total income __—I/™.- 6,565,078 charges— 133,677 150,315 1182,683 §2,110,332 $15,195,666 17,230,840 $7,648,128 $14,244,030 *8,433,400 15,161,294 109,080 116,170 after Profit expenses— Miscellaneous of ..war Interest, amort, facilities,, etc. ____—/ Depreciation & amortiz. Prov. for contingencies- §2,061,245 695,000 •; 10,840,000 4:4,880,400 vi $0.61 //( J Ended Sept. 30:— , - . 9. Months Ended $6,640,521 •7.381,650 .789,696 and.iadministrative expenses— Excess tax profits tax reserve Net — ■«'*--"r adjustments— :■ 30,792 CrlO.221 Cr583,469 ;Cr3,4W Net -$962,377 —_ St. Louis-San payable—trade chgs.-- income .aft,j Federal & State normal' 2,450,000J surtax Fed.(-excess profits tax_ & tax income $1,610,920 : $5.40 $2,824,773 .$1,212,442 $10.39 $3.80 Earns, per com. share./ -tV. 164, p. 2325. ♦In xeapect pf prior :years for Profit year— v ::>1946 * Net from railway from railway Net ry. Gross • oper. income— u 23,631,651 30,380,131 1,965,420 2,596,216 Net ry. oper. income —V. 164, p. 2963. . on company The INCOME Net sales and 1 Income profit before taxes on Net Net Moore Frank B transfer to ' V. ... ' A. stockholders' clkims, are, jnot .5atisfjied The company on letter of notification common to be offered at $7 a 20, Inc.—Offers to Roberts & Oake, ':' $5,320,255 3,896,220 on 6% bonds due their share. Under¬ It . Rochester Telephone Operating revenues . - — Operating expenses Operating .. taxes —V. $695,914 580,978 >73,280 164, p. 3335. $620,408 436,654 97,307 „n<.»ui.-i. ..«■■■'j» . ,Net operating income Net after charges i] T; > 4,092 7,134 .. .■ $7,340,414 • 5,350,415 a,084.240 H A-1 -——tr— $41,656 >3.$86,447 $905,759 15,773 53,619 578,250 stock, as/,compared with th« a share on a ■ 3.600,OOO1- shares outstanding on subsidiary, its outstanding the ENDED AUG. 31 (INCt... /[.'/A/.;]/.- profit, on sales advtg., distrib., Gross $ , to: Chemical Bank 149,955,493 123^618,477 96,238,638 54)095,612 26,402234 103,925,165 - 625,499 89,054,916 619,676 69,836,404 Total income 104,550,664 Interestvcharges 920,689 Prov. for Fed. inc. and Capital stock taxes^, §53,500,000 l,QOO,0OO tAppropriation 89,674,592 1,311,958 10.227^31 ;35i092,245 • [ Profit from opers.™ Ir St IiOuis-.Sftn . ;• Francisco & Texas Net ry. oper. $6,676,590 : 4,443,532 *1,121,437 . ■ c.— .i ju."" Net ry. .87,386 >7,890 .19,658 '24,906 Income-^ from $1,111,621 72,848 Gross • from Net 755,293 lr— 2/188,128 railway^,.,^ y 520,800 railway^-.™ :/v ;. .,84,031 oper. income— -From January •Deficit.—V. 164, p. 1944 1945 $268,066 24,435 ; 2963. • !, ;[ $288,186 911,015 ,1206,699 t23;749.59®] 15,317;203 ;9;235,760 23,941,200 . • 5V2% -cum, ,^000, POO pre- -.stock -1 ' ierfed -i . On common stock Shs. com. Earns, §§711,296 6,119,382 stk. outstdg— 3,600,000 charc_ >;t$13.64 per com. y -839,714 ,859,535 V-2.834,733 ",2,519.762 • 1,890;000 rl-,260,000 -**$7,66 '/tt$6.65 773,377 3,779,643 2,520,000 *$9.19 shares of $2.50 par value. ;-]tlncludes -excess profits tax (less estimated-debt retirement credit of. $2;210,0<]K»/ $19,896,000. tAppropriation for-reserve for contingencies and ;postwar ♦Based on ..v._. 2,520,000 . .. adjustments. §Includes excess profits tax. tlIncludes-excess q>rofits of $51,298,550 (before-estimated postwar refund and debt retire¬ credit of $5,127,614),.'■ **Based on 1,890,000 shares of--$3.33 Va tax ment . $446,313 245,212 123.035 3,472,019 ,:3,576,'582 3,931,148 1,220,541i314,216 (1,472.555 ,366,830 ,2,014,148 .974,871 ttRased .on paid premivra/j'$185.119f / ,-vj value./itBased ,on 1,260,000 shares of $5 par value. 3,600 shares of $1.75 par value.. §§Premium and accrued dividend par redemption of preferred charged to capital surplus. on stock, le?s portion of AUG. .31 T946 .]•" .GONBGWPATED BALANCE SHEET, -.U " v :/" ':/ /■"// " • < • i \ - ■■//ASSETS--*:^ Ry.—Earnings—• 11943 34,087,39® 0,004,643 §63,535.000: H5d °^.4t3 086,434 2,000,000 49,129,975 Net profit v On " ^$265,079 J946 November— ..Gross from railway---,. Net -from railway— 291,227 . Cash dividends declared; require a period of, . 30,008.215 34,563,561 I.:/. ' Other income (net)- bond¬ surrendering .exchange agent, .165 112. " $ 46,030,328 admin/ and gen. exps. ' & Trust Co., ' • may normally ,1943 v 643,867,348 561,657,181 386,634,991 223.183,680 493,911,855 438,038,704.290,396,353,169,088,068 iCounts,.etc. goods sold Cost Of Belling, - SUBSIDIARIES.> 1944 1945 dis** vsturns less Stiles Ecker an^ New York 15/ N. expected that' exchanges ended sales for the year and increased the ' ■1946 David Roberts, Jr., and J. W. : .be^pbiftt^ed from said Aepos/taries.—*V, .160, _p. Cprp^Earnings*^- ,^,t5C^BS5SWT5^"7*3r^W?**, operating revenues , vl946^Mpnth^-1945 >51946^11 Mos.t-1945 $695,914 $620,408 $7,347,548 $6,680,682 Uncollectible oper. rev,_ common 1946, as against $561,657,181 the year-before. Total the report Included new record® Tor Schenley whiskies for'The products /. of' -Blatz-Brewing • Co., a subsidiary/ and sales for several wines/ cordials -and liqueurs recently added to company's line. In January, the Pebbleford Distillery Co., with a plant atr Newport, . days after surrender of bonds to the ex¬ ~ ' ' . , l^• Holders of-certificates .of deposit for bonds apd: holders of bonds In respect of Which assents jue on file with any mf the bondholders' committees .must surrender such certificates of deposit and bonds to the depositaries for such committees accompanied by letters of transmittal in the forms provided by such committees. Such letters of transmittal are being mailed to,ail such known holders .and may exhaust the % amount Ferlod End. Nov. 30r~ bonds is accordance program of 31, INCQMB ACCOUNT, YEARS approximately 8 business change agent. May 1, 1954, to an amount sufficient to at prices not to exceed the-unpaid principal ^ of amounted to $643,867,348 Consolidated net sales Ready-— Broadway, Repurchase Bonds*— , established by' this ;por- acquired for the aggregate sum of $4,481,760, .with Schenley The Geo. T. Stagg Co., each -purchasing 50^ stock, and in July, Schenley .acquired all-of thb outstanding stock of Dowling Bros% Distilling Co., wRh a/distillery at Burgin, Ky., for $12,347,500. reorganisation _ interest.—V. 161, p. 2597. shares 3,600,000 on Aug. of 'Frisco's Fort Scott bonds and John W, with the SEC of $103,930, sum eorp.-^Annual RepQrt-7- records for earnings and aales were share and Stedman, James H. Brewster, Jr., Frederic W. Lockwood, reorganization managers under .the plan of re¬ organization, .on -Jsn. 2 /announced ,tha t the plan Of has. been consummated ^nd. naw securities and t cash .in payment of interest on pld bonds ,p,re now .available for ^distribution. /Bond¬ holders (except holders of certificates of deposit -for bonds or of bonds in respect, of which an assent is on file .with any of the holders', committees) may obtain such new securities by , . rehabilitation, expansion of- world trade, extension of employe® benefits and intensification of research and product development. • , Net profit for the year after all taxes, charges and a special con¬ tingency reserve of $1,000,000, amounted to $49,129,975, or $13.64 a principal and $35.02 interest, New Securities ' plant Stedman. $1,424,035 382,250 Vice-- Ky., was hy.the trustee, was directed to make payments 'Frisco's prior lien and consolidated bonds. The Clark;Hungerford, vR.- 0./McClihtock, ■ First National Bank of thereof and accrued : ^ on will be of rtbe;foliowing shown .in consolidated, 6s. ,The 17-rman .board of directors/ which awas nominated by the- re¬ organization managers on Dec. 10, 1946, and subsequently approved by Judge .Moore," consists of the followipg: D. (K. Catlin, Gale John¬ ston,«R.: J. Lockwood, J. R. Matthews, ::I/. H. Orr,? F.rC.' Rand and F. A. Thompson, all of St. Louis. Other directors from various other cities, -representing groups of security 'holders, are: E. L. Bruce, E. M. Doobs, F. W. • Ecker, S. Hall, H. L. Harrello, B. S. Reddens, Chicago/Trustee, 33 So. Clark St.,.Chi¬ cago, HI., will until 3 p.m.. on Feb. 6, 1947, receive proposals for .the sale to it, for account of the sinking fund, first mortgage sinking fund The ftna-xi.jmj, soww. The Inc.-rNew ,yice-Pres- $27.28 on the Proceeds will be r used - for Dempsey-Tegeler .& Co., St, > Louis. additional working capital. writer, : : / March, 1946, the number of shares of common from 2,520,000 to 3,600,000, $nd the par value changed from $2.50 -to $1.75 per share. .which will bring the bond of the St. LouisA, and $24.56 on the series B, ion. account pf.accrued .interest; $24.80 per $1,000 bond of the /St. Louis-San • Francisco By.: consolidated - mortgage vA^s, .and • Mo^—Fhes with SECt— Jan. 2 filed a #or 42,500 shares ($1 par) ' Aug. 31, 1945). In stock was increased interest up to Jan. 1, 1947; $23;04 per $1,000 San Francisco Ry. prior lien mortgage,^ series <> h -York-^Stock Ahction-^- previous year's earnings of $23,941,200 or $6.43 share basis ($9.19 a share on the 2,520,000 Thompson, will be applied on 113. p. consolidated $45.06 . Rit^point Co., St. Louis, ? according to operations .since its series A and B prior lien bonds and series A and bonds. This distribution, which is to be made along with the new securities under the plan, when the latter goes into effect, consists- of the following: $80.08 per $1,000 bond pf Kapsas City, Fort Scott & Memphis Ry. Co. refunding mortgagees, of which ;41»P41;785 The reserves, if any, allocable to-thisr period have not yet been, determined by the board of directors.—V. 164, p. 1637; V, 163, p. 3423. V.Vft ' .v; ' ' V ^ " J-/ • ■ *416,152 .*45i, m *529,051 poration for the fiscal year ended Aug. 31, 1946, company's annual report. In its first full year of the end of the war, the report stated, Schenley produce in with its government grain quota, and undertook a broad of bondholders' claims pointed out that $119,000,000 of $3,804,841 $4,192,609 tp 8urpIu$_^nw--.,—--v.-i.-. ; $4,045,471 Balance transferred v 2963. Schcnley Distillers New V ; 165, Richard J. . 2,472,703 4051,91? /719 • same priprityiover present plan. sum - $4,045,471 p:.A income——— Interim the carry Judge Nov. 2,'46 Nov. 3,'45 $37,021,243 $30)443,316. $6,727,971 2,682,500 2,701,487 2,382,051 121,416 The corporation announces, .the.appointroeot / 'fo]/ .will be wiped put. 44 'WEEKS ACCQUNT FOR FIRST cervice charges---——^—• :8t/Louis, Secretary and , which take record Dec. 5. • 4*284)59' Max Wes.tphalL Washington Liaison; Gert Meidell. -.Amer1icap-^candinavian Relations; Ivjark Maidel; Operations, .and' TheQdore P.:Gould, Traffic and Sales." -, ' ; Mr/Westphall will have, offices at 1025 Connecticut Ave., >Washington,;D. C.; - Mr. Meidell and Mr. Maidel at 270 Park Awe.,-New York 17, N. Y., and Mr. Gould at 630 Fifth Ave.,, New York 20, N..:Y.—; .baerL., Louis,'"Vice(Vice- order Turns over .to the new Frisco railroad, which name as the old company, all claims, property, rolling stock, franchises and assets of the old company. The road's capitalization will be reduced from approximately $480,000,000. to $247,000,000, and the claims ;of; stockholders and unsecured .creditors Corp., N. Y.—Pays $1,75 Year-End Div. Dec. 27, lasVpaid a year-end extra, dividend of 44 Weeks Ended— '*2(0,267 Presidents: . will issue on Sept..14, 1946, which 25 cents on Dec. 14. second quarterly distribution of $1 per share on the $4 cumu¬ preferred "A" stock was made on Dec. 14,. last, to holders of lative /the time. Judge Moore plan obsolete. Judge Moore's 258,714 commonstock/to holders: of record Dec. 2,633,213 ; *11,980 Scandinavian Airlines System* . Riegel Textile The railroad and issued an opinion and order re¬ fusing to send back the Frisco. organization plan to . the Interstate Commerce Commission. This was asked by an .attorney for * the .old Frisco corporation and unsecured Creditors^ pn the ground that changed economic conditions have made the present reorganization 1,542,865 $1.75 per share on the "An initial of 20 cents was paid oh this: was followed by a quarterly .payment of ,*10,954 snares ox ciass a common srocr District Jut^e George- At the same .3,540,273 2,948,821 p. $237,569 32,916 / UatL 14-year-old bankruptcy of this I 1947. 33,832,124 19,735,759 34,641,275 18,157,669 10,560,248 7,045,270 railway- from Net - ^ 164, 4943 : ,4944 $282,458 21,471 *21,388 Savoy-Plaza, Inc., -New «MJonsummaM©n order- and final decree in-the reorgan¬ ization of the railway company, approving the 17 directors proposed ,to his. Court, earlier that week and setting the time for the railroad vTo epme out-ot bankruptcy-andrtgo on its vown as 42^>l^'in.^Jan.4/W totaling $7,997,450 on * I From January 1— Gross from railway 1,739,774 t V * , ^ $188,697 *107,093 railway-'-—/ •Deficit.—V. 2,396,965 1,389,366 3,374,693 1— United States v $3,031,505 * $9t!982;266^$9j245,435 " rs'v^f 4945 s *63,186 Net.'froni:: rail way]-^---: " Net- ry/pper. income--. ^944^ ^4494^3:4 ; 4945 2,175,977 1,119,060 i ' X946 > $179,813 • From January L— Gross from «Dec.42. signed 1943 $2,443,092 J2,883,885 : 1,309,359 989,797 203,241 195,760 $2,009,081 '>484,403 -i 60,149 * i A Uvalde H& JGlulfJlR^EapnlngSr railway Gross from 337,638 Assistant Treas¬ urer;. R/M. Culp, St. Louis, Treasurer and 'Assistant Secretary; ,E. R. Belt, 1 St, i. Louis; - Comptroller; and -E. G. Nahler,: St, • Louis General Solicitor. < , | •Earnings 1944 V1945 . 78,104,365 , 59,406,623 344.^0.999; 664,623,382 the end of .4946 -were 2,416.i.agatnst ;2,440s Net,; fron) railway.-]-™ Net ry. oper. income— $8,589,574 647,283 -income.— President; L.O. Rlumphreys, , RR. Fredericksburg & Potomac Richmond November— i -November— • Sales -31*47% Higherv^a946^r&2,Wks^—1945. yiear .before—V,. 164,' »$*>$■. ' San Antonio : of -the -Western lines- of the Southern .Ry. Go. > h^d President. Other officers are: M. G. Roberts, St. President and General Counsel; C. ~W. Michel/ New York City,; $1,720,880 $5.56 < 4,328,833 (, 551,128 named 3,820,000 I -~2' 45,0*000 credits ♦Adj. of postwar railway—___ oper. operation at reported ,in operation 32,701 4,718,964 373,069 80,384 Manager 530,000 500,000 3,600,000 CY83.059 $4,819,791 $4,044,435 , 1946—4 Wks.-^1945 • — Storeisf in/ • vsconcluded $5,627,861;* $6,070,880 400,000 Sales restoring: the property to private pwnerphiP i.were ; at Guaranty Trust Co. of New York, on Jan. 2 when Frank,.A-. Thompson, v of St. Louis, trustee/ turned oven the road - to M. ] C., Roberts, VicePresident and General Counsel of the reorganized company. Mr. Thompson, who has served as trustee of the property for the last 3Vs years and for 10 years prior to that was Counsel for the former-Trustees-of a the-property had been elected Chairman - of the board. Clark Hungerford, for the last eight months Vice-President of the .Association of American Railroads and prior to- that General 1943 1944 1945 *$833,543 . • Co.-^Common Stock Placed on a Basi^-rEarned $10.39 per .Common $4,062,771 1946 $7,632,220 1,100,207 Formalities ending the payable,-$149,873; liability dividends, $685; 1946 $598,349 - etc., $319,037; quar. $5,274,773 $7,618,247 2,798,456 406,451,455 97,951,421 The Shetaton Porp: of America wilt'Offer^ifif public/auction Von: Gross from railway, .33,694,200 ,. 33,308,436 20, a block of 1,944 shares of class A common stock and-27,350. shares Nef rv°^ner^irmome~ 4 666 857 14 034 978 15 896 5B2- 2o'a77'46R zu- a Dl0CK OI ;Net, Ty,,,pRer4 ^4>bq,007 44,0J4,948^^07,^468 / [ i , 0f (3iass r $tock,pL the company.' The ; coOTtt,osd^r .,pprnAWna has] set an Aipset, price of $507,708/fpr -ithe/stocks An earlier /pourt . order, applying to ].a eale ;planpedt.fojr/,Sept.i20. A»4>^et a,;minlmutn : Restored to Private Pwner,§hipTr-BahktuptcY :-Ehded pripe of $^6X,863.—V. 164, p. 3420. - •;■■>; , v Jan. 1— the /following • 2,779,162 3150 p. 84,051,738 104,012,342 9,737,673 27,171,519 ]distributions yWere -made: -Feb. V1 -and Sept. 3, 75 cents each; and Nov. 15, a special of $1. In 1945, dividends of 75 centS.*:fifUCh |)y,ere pyd; qptEeb. 1 .apd,;.^p,t. 1. ;; RESULT? FQR YEARS: BNUEP '.NOV.' 30 During / 1946, Net ry. From January have The directors ' from Net placed the common stock on a quarterly dividend basis, and in accordance therewith declared two dividends of 50 cents per share, the first payable Feb. 1, 1947 to holders .of record. Jan. 15, 1947, ^ and the second <.payable - May .1,^,1947 to, -holders.>of record April' 15 1947k .-./.-..j. ,-•••/.:• >•/••>' '■ • •..••.-•''••.I. •••!'.-V • r'-*•••* • >■v> ■ ^ 55,596 Francisco Ry. -Earning^ railway from Net Rice-Stix Dry Goods $3 Annual Dividend; Share in 1946— railway oper. November— Gross on income, exclusive of capital surplus, $6,07.1,162.—Y, 164, P. 2058. " from ry. railway 1943 : *S *134,556 295,95® instalments to May 14, 1952), additional assessment of Federal taxes -interest, $152,514; capital stock $1 par), $1,099,285; earned surplus, $435,079; total, $296,000; $6^23,597 37,963; - , 256,569 Period-End. Dec. 28— • securities at cost, plus at cost (market $9,517), $7 032' Note receivable—employee, $2,000; accounts.receivable, $914,898; •Federal tax refund claims/;$583,469; r,advances for. travel . and., branch plant expenses, $5,380;- inventories, $1,517,744; other assets, $181,756, land, improvements,, buildings, machinery and, equipment (after- reserve for depreciation of $1,737,572), $1,882,141; patents/trade marks and goodwill—at nominal yalue, .,$1; deferred' charges, $286,224; . total, notes payable (due in equal $1 187 500; reserve for proposed $7,183,623 434324 *255,008 V.2A.P26: ; 3,32.4,32^ $6,487,157 -.336,440 *$616,498 Stores, Iuc.^Current Safeway $426,201 y 9,345 ; 4,681,190 203,802 Net BALANCE/SHEET/SEPT. ,30, 1946 2VZ% ^ l-^ 4,696,262 488,991 Net /C35,081 1944 $440,372 41,833 *31,974 *71,415 I - • \ 34,338 *24,8.72 ^ income— *234,090 ♦Deficit.—V. 104,,p, 34?0. *$280,079 $6,071,162. i LIABILITIES—Notes payable, $2,053,333; accounts and sundry, $372,231; accrued wages, taxes, interest, payroll] withholding and miscellaneous taxes to employees for bond purchases, $5,626; unclaimed 162,096 > 2,01.8,857 : .,..$.854,918. Net income . * Deficit.—V.. 164, . $8,5Q6,014 $10,507^47 . *$578,535 .183,586 $829,892. inc.i— $8,162,J$72;.$JL0; 138,701 3.43,342 - 369,245 . .33,304 i $1,013,478 '.,*$454,402 Deducts, from gross inc. V.?;rt-$2,.78. $2.27 consistJo©jO(t«.35,0()0--shares of $4.50 shares. ,tAfter; Federal, and State V: ' 1946 f1945 $432,666 V; $368,681 railway railway oper. .income-- from Gross ASSETS—Cash, $640,102;. U.B.. Government accrued interest, $50,417; marketable securities, : taxes.—-V. I64,sp., ?J58. From January ■;^..■ ;■/■'/ CONSOLIDATED share common from Net ry. >Cr401,210 » •■♦Profit/-/: . NoH-pperafemg .injcome^.- 133,200 v $1*254,787' present capitalization on Gross'from 1,885 inc. under i)Snd!^ - - 1.3I$vfKJO ;;l,288.843 *$487,706 ;;$978,657 34,821. _ Net ry. oper; 935,000 ,199,000 —. November— . .— — —— v. -Rutland RR.—Earnings- . 59,631 adjustments- * expense :■ revenue ,61,194 ',5.4^64 ] Internal Revenue Code , loss Net $45,792 28,333 •— — "carry-back" provis.. of prior period tax find ; v $1,494,893 *Based 2,097,404 preferred stock and 500,000 common $106,986 ,— -—,-• Renegotiation refund (net).-.—— Claims for refund of Fed. taxes on income- oper. - ' ; income ry] 1945 *223,896 425,699». .942,000' -I;— ♦Earped per ■ -912,407 723,520 ^115,684 • • ';:Net- 'inoonie v ; $1,530,825 735,932 —-—W— ,—^— taxes-) :Ry. operating incomei (. :• $1,530,825 .' expense Contingent ' 750,744 " TOtal liet Federal 1945 -- (net)——— Federal ..973,430 14,674.687 107,543 1109,339 81,184 Fed. income taxes Other 34,025,307 $27,075,667 350,306 ; ^vAd:-ivaiorem--'taxes-i^-; v: Mos.->1945 $6f,100,974 $452,696 $12,484,483 $1,525,831 ;vNet re,v.-fr.' ry^-opers. Railway tax * accruals— Total. ,ry.oper, ipc._ < 4946 $16,576,009, $16,897,388 Deducs. jfrom ry. .oper. 2,464,183 ?j?2,166,995 i 4 income 2,546,883 Sept. 30r- charges Income $6,027,651 * 5,383,894 — income [Interest 1946 • -Gross: Joss Other expenses oper.' Gross income — — general ,Selling, Railway ..Other tNet: sales-__ii--i--— Operating profit : Tptal income587,161., [State .taxes ■ . sales of V ... Ry;—Earnings-— 1946—Mpnth—1945> 1946—H $4,078,460 $42;376;393 2,723,675 3,625,764 29,891,910 $4,249,506 revenues 336,045 V$0.94 ; $1,00. > 13,1194.7 ■; . Railway-,?oper. $351,872 336v045 < ' Subs^-^Earnjirigshrr. >. (Jacob) Ruppert (& $0.62 Federal income taxes— sales ;i t Co.—Earnings— Reynolds Spring Cost Period— 5 231. wr—V,• 163,c.p. ^/,2p08,/^ Net outstanding-.—^ Earnings 'pen share refund of Federal profits tax. ^Reconversion, expenses pf ;;previously Vears i; , $363,325 .$403*048 ". >336*045^:: >^$1.-19 Net profitCommon shares •On 1.286.916 common shares;; tBefore. post-war profits tax. $ After post-war refund, of excess including amortization pf war; facilities. ' il85.000 ..werecharged /against reserves ••:■":':v. • - , u 1946 $1,270,907 $1,262,048 $1,094,102 $0.57 I— excess a, 30^b ; '; ; ||$3,198,103 ,$2.20 ♦Earns.Vper com. 'Share -profit Net 916,904 §1,286,311 1,000,000 12,600,000 :193,921 232,398 2,200,000 ••^Federal tax on. income 156,718 . St. Louis Southwestern Subs.)—Earnings— : »1945 «-• '> 11944 m . ^_-^--^ r$6,463,668r .i$8,863.401 J, $6,990,194 : Profit before taxes ——;—__ 628,281* ,1,303,965 ,1,264,657 Jucpme & cxcess prqfits taxes (net) ' ^22423^»/ ,940.640'' : ' 902i785' ^onths Ended Sept. ■Net sales •v9 1943 ■' Monday, January EINANCIALiCHRQNICLE;/ SHE COMMERCIAL 254 ; Inventories securities Miscellaneous: investments / Prepaid expenses .and deferred tLand, buildings, machinery, equipment, 0,368^877 , 40 ao6 ^175,454,075 234,551 . 1 4^,440 ~ charges__/.r„r^:.'}%■£05 Brands, trademarks,-, Total — / / .;>$" ••"•"- ' • Cash in -bank and/on. U. S. Govt, certificates of-Indebtedness/ ♦Notes and accounts receivable ™_™™' Marketable ^ ' ] ' *f.i3i94S etc goodwill, ctc,™T-^_w.ff, — — /; 42:"07,996 1.270.073 489,370 /EO.660,138 37,093,564 91,523,153. 1,456,000 , ' :08{),75O 2,632,830 20,768,863 ,,.,433,438 278.474.222 187.047,00* COMMERCIAL & FINANCIAL CHRONICLE Number 4559 Volume 165 — j' '.J.LU'J'IL.I.U .j-'.'1 ■r "ji >1 •*r ► r— o V ' H" stock : (par, $100)-,'1C--— preferred S%% 'Accounts Uabilities™™ payable' "and/accrued 14,061,400 6,300,000 R,3QO~OQO 1 corporation, -.prooessor of quick-frozen fresh fruits <and vegetables, accordingv:to >an ,>announcement by Theodore U. Delson, President. Dr. .Fehmerling formerly was .with the U S. Department of Agriculture in ,2,314,703 charge of ihe. Philadelphia office, covering Pennsylvania, New Jersey, 8,000,000 Western Maryland, West Virginia and part of Delaware. Previously 2,000,000 !;:he was a processed foods inspector in, the Department's production and 59,043,436;,. marketing .administration.—V. 164, p. 3420. ' 3,025,470 77,749,503 14,386,737 V 165,844 ..Dividends 2,929^379 - 57,000,000 §3,000,000 ^Reserve; for conting. and- postwar adjustments'-; profits taxes-LLu-;..: 54,426,798 2,840,351 /Capital, surplus ■__4_i._l_-_.H_ww-.jFederal" income and excess , ^Earned " surplus ' ,1__ 120,048,800 1 _1 LJl November— ____™ Ohlyt |i rf.'-r" .V..j.44 ;l•■■■y.>■*' Net v" - after" charges X Fed. inc. & exc. prof._tax Net •V of per share 164, p. 3150. % ■' J ^ $6;010,159 i ... - ->* j; - \ r , t- K 1 , between ■Railway coper..?revenues. Railway oper.. expenses.. - $4,000,00a and trust, certificates ment X65, « p. * » 5 Mtimatedy coet: iv' - *) I *\^' rt, / ' v ,V/- •* State, Officials Promoted— Net research ously, 391,616,951 407,012,928 *120,061' 55,093,113 it ; 7,409,568 .6,998,054 7,580,253 655,182 . 8,645,466 he Mr, 1,172,242 i-' 1,668,497 13,306,538 Cr5,713,305 Cr6,056,727Cr31,570,997 11,000 Cr5,191 Cr56,883 (net) 1,722,794 1,771,744 165,209 81,978 4,951,977 1,158,650 Crl48,481 300,540 1,887,925 5,252,517 3,046,575 45,030,569 52,960 53,089 2,383,617 .Reeves Total.Cfijced charges—_ conting. 724,569 1,664,001 , ' Seeger Refrigerator Co.-rrEarnings^3 Months 22,297,022 ^ (Dr) Other income '■■ —— ■.) ^ >- Ket' loss; $45,98$ L— I ,... Luis . —V. 1,316,940 1,922,860 "174,805 - 740,338 4,042,666 RR. Co. of 24,003,244 York of-1950, plan been 14, are Carlisle, a Vice-President has been appointed Associate R. In addition Development Sweeney since his to 1936, and .duties, pew 1929, Carlisle since company Mr. .V-... (500 ,par)- letter a of notification stock, common , ■ ■ the? SEC with offered be to for Curb Exchange with received froip income of S. P. 33,023,407 at par and acquisition ex¬ of from earnings from from From cd "• v ' > $864,760 Taxes (other Prov, for inc. than Earnings— : Net opsr. Other income 595,642 578,048 785,832 36,502 90,224 65,685 *14,254 758,075 3,259,587 4,745,501 4,853,393 326,895 1,635,814 *301,071 • splus accrued dividends, which will amount to 41% cents on the $2.50 cumulative and ,to. $52U5 on the 7% cumulative preferred. This will 4,997 705,422 1,982,203 988,573 20,356V;: 8,66.6 - - . 3,931,491 1,714,065 1,062,391 1 2964. p. $299,183 Or 906 1,994 $298,277 $4,184,055 1946—12 Mos —1945 ': $985,633 ($13,232,083 ,$7,820 530 (The highest estimate net of profit "for share of per taxes the Dec. ended year stock after AH share. v common will exceed $3.50 per . the year 1946 the company paid cash dividends of $1,043,378 $1.75 pet; share ta common .stockholders,- dividend additional An 11.—V. 164, *py-31&l-fa .r; '%l; y ■ \f* t-' % Stix, Baer & Fuller Co.—Earnings— 9 Months Ended Oct. 31-L- 1946> 1945 $3/965,00(1 ,$3,465,000 ,2,400,000 - JL,063,000 •-'■ $3-.95 ..$1,J55; . Net profit before $4,182,060-. $4,274,300 $4,277,287 .2,75.8,874 ilJlLOpl the V 2,986 deductions 1946—Month—1945 *$1,490,779 During Net profit after ? ♦Earnings -Vii-..' ■ income--. 164, sales ~or A,810 $344,573 >;K -t, .Gross Income ;_ NOTE—Preliminary 814,311 397 $344,956 .Br383 .. railway \A of 75 cents per share was paid on Jan. 7.74,061 61,968 425 :;V ' .end $l07v35. : .. 7 Ijr lieu of redemption, each share of - the $2.50 '.curalative .,preferred Vpiay rbe cinverted into ten shares of common stock ,on».or before '' March 15.y Holders of the 7% cumulative preferred, in.Jieu of .reAdemption; have a choice,of two, options-L;to Exchange. (eachAhare .for 59,012 ♦227 ' charges and Federal income ; • 1943 $392,943 •i 31, 1946, indicates that earnings . 64,867 758,280 ..^v v ; 1944 $378,733 previous month's sales by $179,518. fy highest annual sales volume in the history of the company. ,1946—12 Mos.—1945 40,952 7,4,022 A retirements Amortiz. ,.of -franchises- Ry.—Earnings— ~ ' January 1— from ♦Exceeded S$DO,007;«*-3;968,B09 ■*-"i>4;077';91'!J .82,664 1947.—See V. 1945 Period End.'Dec. 31— $767,377 $10,289,218 $10,523,443 < ► 334,411'*1 of $273,304 railway.._____, from railway_^___,_ income™ Net • v J 1946—Month—1945 Maintenance corporation's vol¬ April 1, 1946; 164, as 31, Jan. Sterchi Bros. Stores, Inc.—Sales—Estimated Earnings 1945 1946 $6,024,329 $273,003,561 $332,262,747 ,1 to 1946 the $325,546 Net ry. oper. -——Jan. 1 to Dec. 31*— 165, p. 113. ) 31, }"y;' ;'V..';/ .1946 ■" . railway ♦Deficlt.^-V; 1945 $5,994,100 secured 3420.y-':^C"v:•v;; Gross solely controlled affiliated. companies included but not charged against .Operating revenues Operating expense share Dec. that the time for income bonds, advised 5% the to Staten Island Rapid Transit Net Transportation System 1946 has been respect April 1, 1950, pursuant to exchange of securities dated due extended .November— Mexico. Southwestern Public Service Co. "wiil> '.make the redemptionv value for .the two classes. respectively $55.41%, to k .124,000 vr- ' Period End. Oct. 31— cumulative preferred-stock and 1% of March ^ 15 next,; whichwill :'leave a directors of p. 1,953,560 76,000 174,805 (Excluding S. P. » h $353i507 ^nothingStanding ahead.of the- common /Stock..!• ;;j' BQth classes of preferred stock will be redeemed ht $55 the filed 3 Jan. on Net loss. net Gross , as 29,876,907 •867,623 JO-Days End. Dec. 1 of its outstanding $2.50 stock 23,024,006 ♦44,335 ■'"r — Period— "-v.* Segal,vPresident, ioh .Jan, 46, -announced ithat the.ucompany .Xiunu&tive preferred ,609,868 .surplus by paying, companies.—y. 165, p. ,113. Segal Lock & Hardware CoJ—Calls Preferred Stocks— .retire.all Dr. dividends in 11- The name of the .company, formerly Seeger-Sunbeam Corp., wds changed at the annual stockholders meeting on. Nov. 19, .1946.- -V. 164, - an¬ and 114. p. Not ;ry. qper. jncome___ *Net 58,283 .rX'.y r. ' 1937, 165, acceptances series terest 411,790 N with (Representing in¬ on certain bonds of solely controlled affiliated companies not credited to income of S. P. Transportation .System. §Representing 1 $2,283,6Q4 82,918 36,965 ^ been shares New filing .1,081 332,304 ^.945 . a company The Southern Ry.—Gross Earnings— 1946 Jersey), Starrett Corp.—Exchange Privilege Extended— 552,458 3,535,556 (Cr) adjust. $ $6,715,531 (New Vice-Presidents ( has cos._ adjust. >; Ended.fiTov. 30-^ sales' Operating loss affil. tConsol. 198,396,921 134,983,927 1,560,612.544.993,453,028 reports that $ales for both December and the month period in 1946 are the highest op record--—V. .164, p. 3420. William underwriting. Proceeds will be used ploration of certain mining properties. ; • P. S. SConsol. par company <Jros8 controlled . * ,Th"e of Transport. System. (Net income of solely SEC 45;5% $ $ $ ^ales - that Jersey Standard. director of S. O. D. since 150,000 52,727,469 - 21,281,429 .564 charges. income Net . , 1946-1-11 Mos.—1945 1946—Month—1945 Period End. Dec. 3l—;-,;- • Co. new ' Consol. net income Increased Oil three without Gross Sales of of has 1930.—V. The for 43,830,583 8,896,886 7,421,548 , .. ^ Roebuck & Co.- -Dec. Sears, Standard Starlite Milling Co., Reno, Nev.—Files with SEC— /v 22,169,944 824,211 37,609,021 Miscell...deductions ' •i 4,918,820 50,046,306 1,274,397 . remain Asbury since 14,044,269 18,476,003 (net) income oper. will Mr. : city Total income ; Cpiisol. Mining & Milling. Co.— -> 10,130,128 3,770,775 who increase the number announced Counsel untary jmih. of election the 6, officers, was General 145,345,139 605,806 5 767,562 Other income spl^, publicly during July, 1946.—V. 164, p. 2449. jphrchase of organization Jan. on The ;new 41,019,035 >3,735,638 658,158 _w.T ry. Total The company Oh Jan. 2 filed ja letter .of motlficatlou with the for 2,500,000 shares (100 par) common stock to be offered at fwithout underwritingv';#«y^Jia:^ 7,654,293 2,140,379 \ p. .2964., C. Asbury, who will be in charge of contract and patent activities, and E. Duer Reeves and Dr. William J. Sweeney, who will direct the company's .work in research and development. Simultane¬ !"V:'-T;*i?- < f v. 5,459,326 Willard $ ■ 40,898,974 446,710,064 552,358,067 .5t Federal taxes (Effective ;Oanl!iv ^^> ^ ^S. Glaxon-^was( advanced^ to -the -position .of .Executive Vice-President of the company-and Robert S. McCahan has been named Vice-President in charge of Glaxon Meat Gp., ,a division of the Seaboard-organization. ^Sylvester Cintell, President, announces that these promotions are jin accordance with the firm's expansion program, begun- when a stock Searchlight 4Ney.) Files with SEC— 21,775,026 help meet the requirements of an expanding research and development program, Standard Oil Development Co., central technical nounced 36,212,688 Miscellaneous taxes Li .issiuc and county taxes V---V"'-'-/i-ivv (•Equipments rents /J r%r. . ' tJoint facil. rents "i 147,589 23,764,203 Standard Oil Co. (New Jersey)—New V.-rPs. of Unit— and 39,948,326 . Federal, retirement taxes equipment already on order. •% ' • Seaboard Fruit Co., Inc.—Two i - 422,526 - 23,564,041 and director of the Development company, k secured by to be *»«:. y i' ;f $4,500,000. .668,356 • $2,044,456 698,719 To '' - 798,353 2,567,324 1,304,480 ■ income.^ 1943 $2,192,635 247,021 rallway_____"_ oper. :■>;.♦Deficit.—V. 164, 1946—11 Mos.—1945 .1946—Month—1945 - Net; rev., fr. < xy> .opers.. Unemploy. jnsur. taxes- T ' -The board also authorized the asking for bids lor $3,000,000 equip¬ Qf ry. s,' Air Xine RR.—To Buy Equipment— locomotives and. ws yoars Tor phosp^kte pt ian tdiqsel SYSTEM TRANSPORTATION OF $ IThe! directors- have ^Authorized the. purchaae> of 500 hox cars,: 10. ; EARNINGS >.•: . Period,Epd. Nov. 30—.., f, 1 y from Net -^..(Incl./separately operated solely controlled affiliated companies) - 4 1 Net 162,881,210 36,001,661» 53,422,510 30,425,836 income___ oper. 1944 1945 *537,755 directors. $3,962,622 . ry. 104,649,255 139,059,288 36,255,564 23,792,278 oper. !-"• • 1,0.00,000 250,000 3,479,495 ....v■ . $1,454,593 From January 1— ' Gross from railway—17,390,621 'v ^.^peficit..^ 2,520,000 :1 1,890,000 1,260,000 .$5.38-.x,v - .$5.32.4$3,07$2.9.7,; _w_ . Seaboard . - ry. shares -11 3,600,000 com. Earned —V. 250,000 $19,385,665 $13,415,695 .profit Number , $34,165,665 $29;465,69& $23,095,505 $18,183,622 13,580,000 .15,8.00.,000 16,835,346 13,221,000 etc.., 1 1,200,000 jProv. for conting., Net ; Net 1943 2,112,632 1946-— railway____ $1,706,435 railway327,023 from $31,096,943 $32,130,243 $40,127,309 $40,859,755 *2,201,556 10,578,018 .14,184,452 191,753 . from Net ; v, 1,640,724 railwayw--'lncome___' from ■Net . 1944 1946—12 Mos.—1945 $8,993,167 $109,481,497 $70,756,389 ■ November— Gross : . 1945 income^-, 3,233,665 oper. . $11,684,638 164, p. 3151. Spokane Portland & Seattle—Earnings- From January 1—• •■'' vGross Trom ,railway-w; 352,868,876 441,668,257 453,527,140.425,057,087 > 'Profit 1946 , from- railway Net .r-y- i.jjfe RESULTS FQR1 FIRST -QUARTER OF-FISCAL 'YEAR : (Quarter End. Nov<304- •' >1946 : -1945 '• X4 1944 „ ,1943 ;1. ,;v . rGross. from .railway_w - , Southern ^Pacific Co.—Earnings— / . '!? —V. 1946—Month—^1945 ', Sales- .11 .278,474,222 187,047,094 •'4.:Af ter reserveS'fo-r-bad-debts-.of $671,000 in-,4946 and 1945. ,tAfter v reserve for depreciation of- $18,359,300 in 1945-and $20,260,215 in 1946. < JRepresented byi 2,520,000. shares, of $2.50. par .value ip 1945 and 3,600,contingencies Total Spiegel, Inc.—December Sales Increased "29:9 %— Period End. Dec. -31~~ f, 928,89.4 (Sundry taxes payable and accrued„_-__--_u^i ".Unsecured bank-credit "expiring Aug. 1, 1955— Appointment— Jr.. has been appointed chief chemist' of this Dr. Q. B. fFehmerling, \ 255 np- :J ^Southland Frozen Foods, Inc.—New ;;v, 1. .f,r * -LIABILITIES—' -■ ' , / •share__________™___.._ per •♦Based Jn taxes_____" each case Extra Dividend— > •>'•■ : , - shares 584,792 on presently ^ „ outstandings / , . - Net income $2,473; 004 249,141 JiW,717 -$1,239,635 . v Balance 4ope share pfi the $2.50 cumulative preferred .plus ten . shakes rof .com- ? stock,; or .tp'. exchange- each .Qf theif preferred shares Jior ctwen|y shares .of common^tock,—<V.'164#,p, Jl%2, r. • » ; ^ —V. payment ending 164, p. .333.6. fiscal < Marine ^division I registration .statement ;(No. 6800) filed; wlth .the .3,EC .;pct.'.28 ,and, -covering 280,000 shares of common stock ,(par r$,l) was withdratYA Jan. 2.—V. 164, p. 2325. revs.— Aug. 31, *46 Sept. 1, '45 (Sept. 2, '44 Aug. 28, '43. ;t Gross JBankicshccessbr^^JtruBt^ <PorUahdv Me., Other will until noon of ^fan. 13, 1947, receive hids for the sale to it of-first fmpxitgage 4% -bonds, series B, .due Oct. .1, 1961,. to an amount sufficient to exhaust the sum ,pf $19,454, now held in the sinking fpnd.—yJ58, SP.-U78; - " ■ " ' ' ' ' ■' " ' l* ;■V. profit $6,019,654 117,976 .w— income $4,637,680 355,177 - $9,165,436 -487,194 The i 1 t $7,093,112 73,715 Prov. for bad debts - oi .;: 'Ml ; < *Jt c*, < Net « f- »*•' 163, p. . ( : "" -t . $329,069 - capital' shares Earned-per share 1 —V. 150,083 310,103 .L: ».'ii ri' profit— 500,000 $0.66 - < - • .Profit 1944 " $9,888,647 $278,234 $639,172 Number of ' 2,424,262 •': 602,761 5,972,008 . ' ' • $128,151 : 0 • 498,800 $0:25 j. ——:— s,-' T ' ^ Balance, surplus x.—:^ $420,868 $1,081,533 $627,991 611,055 611,055 611,055 . X 509,213 - : J $4.24 1 The "company'.ori Jan. ^3-filed-a letter-of *• ! . : v'.'. «' .*.• " 'Other :- ^ • .--*r*■ Sputliern Bell Telephone ' Period End. Nov. 30—' V r r v 1946—Month—1945 — - r 15,862,617 ■9,404,823 3,963,949 4,296,998 -2,324,826 / 184,344 3,760,858 -:; " U. -•*' S; 836,864 16,975,671 X 2,112,081 3,400,000 Treasury tax notes______ .Accounts re<^ivable -^-_-x_----_-i .Deferred-, charges 1 1946—11 Mos.—1945 $ >•'■: '• $ 1946. 'Ji L* ' V1 t value par \i S $ J 1 * ** ♦ k t 1 165, ' , . 1945 * 1946 » , ap¬ stock.—V. common .1,261,000 sales Jr., President, commenting on ;13,602,000 .the current position of inventories, and mon-seasonal stated: "Substantially all of that have been packed to date Items Even though -this corporation is less -vulnerable to many other canning companies because of of non-seasonal items packed, Mr. Stokely em- than proportion figure of $59,808,000 for the six months ended 30, 1946, should not necessarily be regarded as representing oneof the estimated sales ,for the entire fiscal year which will end f; May 31, 1947. Mr. Stokely further stated that he expects that total sales for the fiscal (ending year 31, May 1947, will exceed for sales the previous fiscal year which amounted to $88,969,162.—V. 164, p. 3152. Spn Oil .Go., PhiUdelphia^Chang^s in .Personnel—-v '153,421 •4(517"2.37 ' 201,666 John $36,123,030 J3.3.434.814; $35,548,693 Glenn (Jack) has Pew elected; Vice-President been in charge of production and Francis S. Mcllhenny, Jr. as Secretary-Treasurer. Jack -.Pew, ..who "has 'been '.associated with oil field.-operations in Texas, Oklahoma and Louisiana for almost 25 years, .succeeds his father, J. Edgar Pew, who .died Nov. 22, 1946. He has been a director of -the company and assistant to the Vice-President in charge of production since 1941. • * ' Mr. Pew has also been elected President of the Sun Pipe .Line Co. • • X :■ ;. also -been -named a director, succeeds Mr. after serving as Secretary-Treasurer years.—V.. 164, .p. 2591. : ^ a subsidiary. J Mcllhenny, who -has (Texas), Mr. for . who more died than Nov. 40 25, . . 1946 45,038 LIABILITIES— 12,263,197. 142,188,542-130,332,599 v> '20,486 x 285,402 226,218 13.536,926 Net operating : Net' after —V. v 9,254,588 117,761,369 " ' 795,387 (Capital Notes $14,700,000 $14,700,000 $14,700,000 stock payable income 1,719,092. 11,370,951. Accounts -- payable — Long-term bank loan 130,096,381 91,821,687 Accrued 21,361,573 > .1,229,385 cnarges__:J^_- 165,-p. 12,242,711 141.903,140 11,512,154 Onerating revenues Operating expenses ! Operating -taxes-. v 983,969 1,269,031 983,205 12,770,820 9,555,802 .16,91-3,121 10,662,297 113. taxes LI interest Reserves 410,000 .11 4,154,983 3,600,000 .116,972 —------ payable :—___T Fed. inc. & exc. profits taxes Dividends .declared _ Accrued Earned surplus ' 7,527 1,808,905 274,975 2,082,617 "8,967,057' 410,000 1,449,025 4>010,000 —, 4,920,000 2,502,281 820,000 152,051 ; 274,975 1,676,880 4,410 3,438,326 274,909 1,574,731 7,590,504 7,25.7,627 3,162,197 Electric output of this Qompany for tb© .week;ejadec}.;Jan.14, .19.47, .coinpared with ,2,058,080 kWb. for Jbe responding week last year, an increase of .15:6%;.—,V. 165, ,p. ,113. totaled > 2,380,000 kwh., The Total '■ i ' j $36,123,036 $33,434,814 $35,548,693 ,and .$8,917,4.98in ,19,44. depreciation ;.pf- $8,560,998 Jn ,1945 ' tftepresented by 611,055 shares (no par) .—V. 164, p. 2735. - : • :> stockholders subscribe .on or of before record Feb. Jan. 10, 16, 1947 Will be given the right to shares of 1947, for 500,000 additional 15 .Argentine j?Qld pesos per share, on-the -basis of one additional deposit certificate (representing bearer share certifi¬ cates.)- for each three ;heki. The subscription price has not yet been stock, capital par "•'•'/ • '"'v ' a dividend of 40 cents per share,-the six-quarters, payable March 1,' 1947 -to stockholders of record Feb. 17, 1947- All shares issued and outstanding oh- Feb. ,17, -including the new shares to .;be offered, .will be entitled to this dividend.—V. I64;.p, 3152.> • : ^determined.' same /'♦After as (Compania Swift Jnter- S.A.G.) — Rights Issued to Stockholders—De¬ clares 40-Cent Dividend— 56,411 9,183 Swift International Co., Ltd. nacional, The Southern Colorado Power Co.—Weekly Output— ■ J t fluctuations large Cross, ■ ' 10, on-.Sept. ■ Uncbllectible' oper. rcv._ •? t# tt.• r::' »*; «•>»."' *.,.!?•* * _N :.i . 137,000 telegraph <C,o.—'Earnings^ • Operating, revenues —13,581,964; : . 3 Assets li—_X of exc, profs, tax ' j J cents 50 phasized that the sales 7.. , 137,000 187,440 701,566 174,000 243,263 Post-war refynds Inventories •• > -r-- and C<C, New York, N. Y>, has been for A5 with -respect to sold." been Nov. $2.93 : $13,370,038 $11,392,707 $10,668,174, United'States savings bonds notification with the-SEO x . ; Aug. 31, '46 Sept. 1;'45 .Sept. 2, '44 - ♦Plapt; and ptoperty •;' • shares ($1 p.-:1764;/-r- - «'• par)-common stock, to be offered at $23 a share. .Underwriter; >E. H. .Rollins and Sons lnc;, -New York-. Shares are - being sold on behalf -of trustees under--will -of Agnes M. Llndsay.-^V, 164, for .4,300 < $3.54 $2.-49 previous ,$2.78- FMer £9'> ^c.^F\l^s "with . the 865,662 COMPARATIVE BALANCE-SHEET ,SEC~ ( have $1,493,653 ASSETS—- . seasonal >$1,1494,051 the , , Manhattan Government the half i a ■ for ' $59,808,000 $40,291,000 .697,872 8,5,02.113 '*•'> $1,386,534 ; Com. shs. outstandings . ,498,800 ?'^Eari}Si';:per'; share; v—, , 1946, 10, agent r" ^ W. B. Stokely, 4,409,258 1,079,291 the "" v, company $2(160,824 : ; , the 1,099,899 i,099,899 1 „ »Including 400,000 $1,520,767 $2,593,930 * .Cash dividends 3424. .Southern ] Advance FaS! ;«& Vvr seasonal 19.45 -••1946 - , Profit after charges Btate and Federal tax prov._i;^ • .737,934 1,197,879; ; June on co-transfer ^ r ^ of Bank 136,044 ■ smith Corp;:<&.Suhs.)^Earnings- Quarter Ended Oct. 31— ' 267,037 for 'thei fiscalyear cents • 30,000 .400,000 209,893 400,000 -Red. 4m?ome tax Rsd.^Xc.tRtQfs, ta* (net) $7,166,827 50,000 100,000 -234,776 .1,711,026, ., , >$9,652,630 — prov,-for /contingencies Interest ?paid . / .SheratoiipCorp: of America—To Sell Savoy-Elaza Stock vSee gavoyvpfaza,- "Jtnc. gbftye.—V. .164,.JP. 2590. . I $4,992,857 50 *Sales . $6,137,630 cents Six Months Ended Nov.'30— , . share per with Stokely-Van Camp, Inc.—Sales Increased^— T Total income $1.18% •--Ml < r-> common shares' received ; par 37y2 pointed J Shenangp galley Water Co.—Tenders— The1 Rrst^Portland:^jatlbnai of compared as Co-transfer Agent— Total ;• $74,846,683 $73,445,835 $94,356,755 $71,168,207 CostiOf sales As 0XPS._-/.68,827,029 ,68.808,155 85,191,319 64,075,095 ~ total a 1947, , 1946, $74,776,208 $73,363,081 $93,745,793 $70,047,313 '70,475 82,754 . 610,962 4,120,894 The > $5 make 31, - a" dividend .of 25. cents on : Dec. .10, 1946, while the $10 par shares outstanding prior .to the twofor-one split-up in September,/ 1946, received 50 cents on Jap. 25, Spencer JKellogg & Sons, Inc.—Annual Report^- ^ears.,End«dr-rV'; Net; sales will Jan. year. " The ,' ir-Shatterproof ipflass Corp., Detroit, Mich.-^-Registration .->;.fitat©paent ^WitUdrawn-^ ' 4 . '.The (directors at a special meeting held on Dec. -26 declared a yearend.extra dividend of 50 cents per share on the $5 par value common Stock, payable Jan. .25, L947 to holders of-record Jan. 10, 1947. .This $1,518,413 .$2,223,862 .___ Acerged -dividends cumulative preferred stock— ; ", • - ;•■. directors as .s in the have ;-rr; ■ , declared preceding ' i f'L ■ $ ^ .. II, contract Pacific Taylor-Colquitt Co.—Annual Report— ; 1945 Sept'. 30— 77'j1946 Operating profit before depreciation $539,264 Other income —; 47,106 deduction——— deductions Other for Profit • 63,948. tax Income ; 42,876 >; year— $396,305 74,833 7 Dr5,325 to transferred Earned per share Cash u. , 151,255 538,411 509,245 profits tax_ Total v. $2,441,364 Accrued income) than (other taxes tReserve for taxes payroll accrued ^Common stock (par $5 per share). * Capital surplus surplus Earned Total i_. __ , $2,305,255 $282,000 $475,COO 167,333 77,719 ' ■ ■' * ■ ' ■' . ■ . ' - 11,676 for 268.816 268,816 943,927 $2,411,568 $2,305,255 "Q c. : : *'V'-- V ., 7 ' ' ':i;.' - ' v'• : v';t Liquidate-— —V. 165, p. 115. v.;".. -■■ .■>7'.7 ' Net from Net ry. —V. ; RR. Co.—Tenders— ' trustee, • 70 Broadway, New York, N. Y., will until noon of Jan. 27, 1947,' receive sealed proposals for the sale to it of an amount of general mortgage gold bonds due 1951, sufficient to exhaust $54,040-now held in the sinking fund, at prices not to exceed 105 and interest.—-V. 163, p. 233. Central The ' ; •\ Texas Mexican Ry.—-Earnings- ' 1944 1943 $144,061 $163,194 "11,361 •51,700 74,007 .49,417 2,026,763 f ! 2,136,479 1,850,219 " 7 Net from Net ry. income " - ._ . - 781,853 i 683.266 345,000 281,883 , •Deficit.—V. . 19,884 .2,239,680 $ 642,941 , ' 53,336 Prom January 1— .« ■ $165,393 $190,150 67,737 52,814 railway- oper. 1945 1946 November— V i 828,699 519,596 377,112 , i> 164, p. 2964. "Texas & New Orleans RR.- -Earningsrailway Net railways from Net ry. 2,094,913 income—■- oper. 1943 68,768,732 $11,458,874 $11,482,013 5,664,294 2,081,495 7 5,180,605 $8,851,383 from 1944 1945 1946 v'7 "7 November— Gross 1,251,636 966,897 1,713,312 1,679,508 from Gross from Net railway-—— railway ry. oper. — income— 93,841,188 18,837,549 13,816,743 Gross ■iNet the «nd ' declared; semi-annual usual a ■ W ' dividend of 25 cents - ■ . . „ ry. 1944 1943 '$99,187 Net the Jan. 13. railway—____ "25,565 income— 49,605 25,706 12,809 "32,315 Transcontinental & I— ; railway___w Payment Adjust, 1, 1946. 77 r on of "Net $326,220 224,900 211,081 $90,282 $129,768 $94,304 6,996 adjustments before deprec. & mtge. payments 14,461 principal of first mortgage-.: accrual for estate real taxes before mortgage depreciation-.'available payments on... 4,053 . ' 7 , $118,719 income: bonds... —V. 164, p. 326. 4,022 prior • income" 9,591 $127,346 2,422 ' and 15,266 ; 12,584 S 8,417' ■; for interest and sinking fund 5(4 ; . 1943 $373,247 . expenses periods $79,843 " Wailes-Bageman, Inc., Vernon, Calif.—Files with SEC Dec. 31 filed a letter of notification with the ,SEO par) -preferred and 20,046 shares of common stock. Preferred shares will be offered at par and the common at $1 a " share Without' underwriting. Proceeds will be used for payment of obligations.—V. 164, p. 998. , • The company on for 2,475 shares ($10 , , ry. oper. Years Ended J:,; ■ Other income 285,761 213,130 (net M 1945 141,093,779 119,174,823 333,958 311,145 ; —— Lease cancellations Losses inVeSfnients 3,150 •_ — and writedowns estate ■:> 177,169 124,734 Federal Federal excess 280,422 127,826 real on and estate real 110,000 and surtax Utica, N. Y*—i and Increase leased 3,598,729 — for 1,750,000 2,820,000 3,530,333 invest.; in affiliated company:; applicable income Reserved $2,500,000 of Preferred Stdck 2,520,000 730,000 income tax profits tax of 107,131 230,486 16,433 (net) Balance Gain on sale . Mohawk Cotton Mills, Inc., & .—— income after Plans to Sell 1946 ' *.■»•>% j y- 141,427,737 119,485,967 ♦Cost of sales and selling, occupancy & admin. 132,816,120 109,809,198 752,736 Depreciation of buildings and equipment— 714,395 Prov. for contrib. to empl. retirem't pens, trust 668,000 485,000 Improvements "to leased properties^ 215,719 -36,275 Total 1,289,022 39,555 3003. p, 30— ; Capital stock, State income and franchise taxes 1,208,653 ' 138,248 164, ^ept. y,..\ Net sales and other store income.— Normal income— ■Annual Report— Walgreen Co^ (& Subs*) ' 23,858 8,563 '' 11,226 1,412,5911,345,239 railway.: "Deficit.—V. - year.— v.- - on Jan. ACCOUNT FOR SIX MONTHS ENDED OCT. 31 operating Net Income $117,239 oper. from yi-;: Western Air, Inc.—Meeting Off.— . Jan. 1 paid lVa %'Interest on the 5% mortgage months ended Oct. 31, 1946. This compares . 1945 $161,673 Utica • on Net income organization through¬ 1946 from Net V. 164, p. 3337. „ 37,393,974 10,778,17a for the six Other income FromJanuary Gross share on per capital stock, par $2, both payable Jan. 31 to holders of record amounts were disbursed on Jan. 31 and July 31, last 8,267,600 Total extraordinary expense8_______________. Total interest; Acquired Castle $102,072 railway—- from from Net Special Distribution— special dividend of 15 cents per share Uke 33,482,489 8,221,818 1946 . 'cjU November Transamerica Corp.—15-Cent "The directors have 29,177,089 6,034,922 Total operating income__„___,_ world. Utah Ry.—Earnings— 110,689,812 123,119,310 121,146,705 40,695,885 54,452,629 ■<61; 461;618 13,404,747 11,892,072 '23,079,731 ' . 87,084,799' 87,549,507 . —V, 164, p. 2964. j 734,301 695,229 . > $7,998,037^ 3,323,413 901,774 Chi111.—Pays 1V2 % Interest—Earnings for First Six INCOME retains its present functions, organization and present personnel for the production and distribution of home and non-theatrical pictures in 16 mm. and 8 mm. silent and sound. All present Castle Films dealer and sales outlets throughout the world will be maintained, it was explained, Mr. Castle becomes-a-Vice-President and a-member of the board, of directors of United World Films, Inc. Harry J. Spiess, formerly S Treasurer of Castle Films, will also becomea Vice-President and a member of the board oftUnited. World Films, Jnc. Murray .Goodi'mah, SaleS Manager of Castle Films, remains in that capacity and Don Hancock will continue as Production Manager. * ' ' ,,' Through the recent acquisition of the BelJ <Sc Howell Filmosound Library and its coordinated program with the J. Arthur Rank Organi¬ sation in Great Britain, United World Films, Inc., has already launched a world-wide program of providing outstanding non-theatrical films for schools, colleges and other institutions, eventually leading to the establishment of a "film encyclopedia for the-home.M James M. Franey is President of United World Films, Inc. Other Vice-Presidents are William F. Kruse, Edmund L. Dorfmann and E. L. McEvoy.—V. 164, p. 2737.' From January 1— Net 73,062,457 13,503,51G railway-, income— 1945 and % of 1% Castle Films Division \ $8,069,319 2,051,311 :with iV4%.. paid on JuIy l, last, i% on Jan. l, 1946, ;lVi% on July l» Films, and Matthew Fox, Chairman of the board of .United - World •Films, Inc. ' ' Castle Films Division, it was further announced, will continue under the management of Mr. Castle, maintaining all of its present functions being formulated, for augmenting its $6,847,253 . 84,609,282 oper. The corporation . ' with plans 1943 771944 .1945 ^ railway— ' 73,325,047 income bonds United World Films, Inc., a recently organized affiliate of Universal, succeeded to the business of Castle Films, producers and dis¬ of home and non-theatrical films, according to a joint announcement made on Jan. 2 by Eugene W. Castle, head of Castle out the ; Months— tributors iBank & Trust Co., Hanover 24,660,102 11,328,823 6,853,210 Wacker-Wabash Corp. (The Pure Oil Building), has Tennessee Coal, Iron & >' 11,300,133 6,571,110 611,440 : > 164, p. 3193. cago, Films— 165, p. 114, Jan. 6.—V. 8,091,548 6,554,688 .1,737,637 798,417 oper. income; From Jan. 1— Gross, from 1 : 593,326 27,036,248 $7,320,688 , Net ry. Dividend— T; 109,959 ■ 7- 1946 railway!-- from •Net from railway, the SEC 25 cents 7': '.-7:-vf-'n - 1,028,910 Wabash RR.—Earnings- Total •, 164, p. 3003. $2,360,131 909,235 26,296,587 254,746 1943 ' 7 7' $2,456,616 • •296,649 ' 22,711,962 6,307,754 4,272,716 :ncome___ 1944 1945 . $2,238,423 , 292,064 November— Gross a Universal Pictures Co., Inc.—Affiliate oper. "Deficit.—V, United States Gypsum Co*—Rights to Subscribe— common stock of record Jan. 4, shall have the right to subscribe on or before Jan. 31, 1947, at $60 per share, for common stock, ($20 par), to the extent of one share for each three shares held. ■ 11946 . railway railway__ from Holders of a shares In 1946 and 200,000 no par par- $1,750,232 income___ oper. ry. {■ dividend of. 15 cents per share on the class A and class B common stocks, both payable Jan. 20 to holders of record Jan. 15. Distributions of 20 cents each were made on these issues on Jan. 2, April 1 and Oct. 1, last year, making a total of 60 cents in 1946, as against 65 cents in 1945.—V. 164, p. 1767. have declared directors no f from Net will be used to pay debts and United States Foil Co.—To Pay Smaller V';,"' Jan. 10 to discuss and possibly adopt such a plan of action. An auditor's report read at the hearing established the company's -assets at. $1,161,346 and liabilities at $2,702,485. 77t7\ Public sale of Cleveland properties of the corporation has netted - approximately $250,000, according to Court records, it was reported on - . railway____ From January 1— Salida, Golo^-^ilOs' witli ^ company on Jan. The -reorganization plan for this corporation was ruled out at a hearing on Jan. 7 before Carl d. Friedbolin, Federal referee to bankruptcy at Cleveland, Ohio,-and preparations were made for some program of liquidation of the company's holdings. A hearing was scheduled to be held before Judge Friedbolin on Possibility of from ry. Inc.—New Direc¬ ' 2,407,729 $6,193,094 164, p. 466. from railway • V a share without underwriting. Proceeds for operation of mill and ore mining. 426,000 1944.—'V. 163, p. 695. Taylorcraft Aviation Corp.—May . by 207,300 Net 3 filed a letter of notification with 250,000 shares ($1 par) class AA common to be offered at The 102,116 1,016,418 i ■: ;■ ■ SEC— 1946, $782,850 in 1945 and $813,Treasury tax notes of $175,000 in of $827,985 in tAfter deducting U. S. ■ ■ 7 5,843 245,157 426,000 426,000 268,816 -1,147,799 1946, $100,200 in 1945 and $30,030 Jh ■ - t 57,521-; *After depreciation Gross Net i p United States Fluorspar, Inc., " $2,441,364 ... $7,435,572 . ' 7 1,069,984 3,124,659 . surplus November— B_. - " 1,952 Virginian Ry.—Earnings- p an 7..,; 503,706 surplus "Represented " % $375,000 159,807 'vt 6,421 : : 1944. $2,411,568 income—:.—.; on 11,656 13,699 7 777 liabilities— Notes payable Accts. payable and 136~809 404,041 > 22,930 33,173 377,204 79,714 2,500,000 701,334 credits reserves, miscellaneous —(net)—— _i._j.__——, shares to 1946.—V. Lavan has been elected a director of United Factors affiliate. He is General Counsel for the company and senior partner', in the' law firm of Stroock & Stroock & Lavan. Mr. Lavan .is also a director of American Securities Corp.; Henry Rose Stores, Inc. (wholly owned affiliate of Sears, Roebuck & Co.); United Merchants &r. Manufacturers, Inc.; Winter & Co., Inc., and William Sellers & Co., Inc.—V. 164, p. 2736. I. Peter Corp., 3,304 . - & Gross tor of Affiliate— 87,500 318,653 1,202,792 and equipment 7* Deferred charges and prepaid items 77 and taxes Total personnel.—V. 160, p. 1565. United Merchants & Manufacturers, $143,805 assets:..—171,452 other in amount of Federal excess profits tax postwar Accruals Accrued $93,943 $144,021 payable Net 117,500 406,060 plant *Property, accounts for conting.; Res. Capital "Earned A. by the same local 908,677 excess and Investments Current -•Capital■ stock United Fuel Gas Co.—Acquisition— -1944 77 1945 1,021,982 ' refund Postwar 117 in " _. Inventories :> $2.01 $179,291 Savings Bonds——.—147,500 receivvable 487,244 s. Accounts ' ' — ._ $2.12 "■ 1946 $174,380 - "-'i' $166,386 vv, sheet,' sept. 30 balance ^77--777/- 7 assets— ' $208,811 $3.12 —- .7 . Cr28,243 7 1,141 $267,701 surp. —— i-.v: "7 earned ; and 16 Wallace, Jr., President, announces that on Jan. 1, 1947, this company acquired the Point Pleasant Natural Gas Co. ; Both of these companies are subsidiaries of the Columbia Gas & Electric Corp., and the transaction is part of a plan inaugurated by the parent corporation, providing for a simplification of the corporate structure of its subsidiary, companies. - The consolidation of these companies will make no difference what¬ ever in the policy or plan of operation of the business as conducted by Point Pleasant Natural Gas Co. Gas service in the area will continue under the same general management and will be directed $171,711 $180,568 Jan. Harry ,24,361 . Reneg. Amt. fi,t 125,400 :;:,■ 33,240 ■ 2 $266,560 refund on 1942 Govt, contr. Adjust, for deprec. and deplet. for for prior years less taxes—— 31,170 266,000 212,986 * $365,135 $540,945 61,137 $586,370 ' : ; $493,859 47,086 . Depreciation 1944 j\|:; LIABILITIES— Air Transport Command on or and ground personnel who have operations for the that both flight C been assigned to those operations during, the more than four years 7 that they have been conducted as a militay project will be available .for the new commercial service to Hawaii.—V.' 165, p. 115. about Years Ended • Monday, January 13, 1947 FINANCIAL CHRONIcLB THE COMMERCIAL St 256 »«- ,Jlt future taxes. cost improvements of properties, etc._: Cr577,000 — to 400,000 -k-——500,000 ' . Common Shares— v ,Net profit — $3,675,729- $3,130,333 The meeting of stockholders, previously adjourned three times from k; The stocxholders on Jan. 28 will vote on increasing the authorized 282,359 [ Preferred dividends —i— 260,000 its original date of Dec. 23, again was adjourned on Jan. 6 to Jan. capitalization from 260,000 shares of common stock without par value Common dividends t—— 2,067,976 "2,067,976 13 at Wilmington Del. • to 500,000 shares, consisting of *60,000 shares of preferred stock, $50 $2.20 ; Earnings- per common sharejJ-—: $2.64" •The meeting had been called to approve an increase in thevau*. par value and 440,000 shares of common stock without par value, c *Including in, 1946, addition, of $500,000 to reserve for inventory 1 The new preferred will be convertible and entitled to quarterly divi¬ ■f thorized common stock to 3,000,000 shares from 1,000,000 shares. Ab^ losses. ''v : * ' sence of the proxy for the 46 % holdings of Hughes Tool Co., conk; dends, to be fixed by the directors. ' ' CONSOLIDATED BALANCE SHEETS, SEPT. 30 trolled by Howard Hughes, was the reason for the adjournments^..4 The company plans to issue and sell $2,500,000 of the new convertj ASSETS— ' ^ 19461945 : ible preferred stock to finance most of the $3,100,000 estimated cost ; Cash Agreement Reached With Hughes Interests— ———k——$9,503,906 $8,641,027 of completing the modernization and expansion of the company's plant J U. S. Treasury tax notes and bonds 3,404,376 7,001,393 A convertible loan of $10,000,000 by the Hughes Tool Co. was part fat Seneca, S. C. It is planned to manufacture Mohawk wide sheeting,!; Accounts receivable, less reserves: 1,093.132 t, 697,900 «f a financing proposal adopted on Jan. 9 by the directors of Trans¬ sheets and pillow cases at Seneca.—V. 164,- p. 1128. • Inventories of merchandise 19,413,804 '14,851,753 continental & Western Air, Inc., Jack Frye, President of TWA, and, ; Prepaid rent, insurance, taxes, etc 827,644 736,899 Howard Hughes, the company's largest stockholder* announced. Virginia East Coast Utilities, Inc.—Proposed Loan—. Investments and other assets ' 1,980,559 1,016,393 It was considered probable that the Hughes Tool Co. will have The company, a subsidiary of East Coast Public Service Co.;. has certain of its nominees added to the TWA board of directors.; > No : —^.! 4,957,026 " 4,489,788 requested authority from the SEC to borrow $200,000 from Baltimore!; ! •Fixed assets j Goodwill, leaseholds, leasehold.improvem'ts, etc...T > - < l' resignations of the present board members are expected. National Bank for a period of six months, the loan to be evidenced VMr. Hughes had been conferring since Jan. 7 with TWA's directors by a promissory note bearing interest at 21/a%» The loan will be ;; ' t Total $41,180,448 $37,435,152 >y«n plans to raise $40,000,000. The conferences began after a two" guaranteed by East Coast Public Service Co, . Proceeds will be used., week's deadlock during which he blocked, efforts .to, convene' a stockto retire Virginia's present loan of $150,000 from the same bank and- ; : LIABILITIES— ^ V%■■■", 7.: j;' bolders' meeting to vote on the proposal of the directors to increase for property additions.—V. 143, p. 3015. ; Trade accounts payable " 1—_ $5,310,397 $3,312,23a authorized stock from 1,000,000 to 3,000,000 shares; c Previously, he .Provision for Federal taxes on income—-— 3,705,8384,847,315 was reported Veeder-Root Inc.-^-Earnings— to have been advocating raising needed money through. Accrued expenes and takes and other liabs.. 3,309,577 2,268,723 Jan. 1 to Jan. 1 to borrowing, rather than through selling additional stock.—V. 165, p. 115. Reserve for future cost of improvements to • * «, - — — " • • ' . —— < . . - • — . . Nov. p6rj:0d ; . Twin Coach Co.—20% More Coaches .Delivered—: During December, this company delivered i' Earnings, of parent corporation before Federal income taxes and provision for contingencies 120 urban type coaches, 4 according to H. C. Arnot, Vice-President in charge of sales.;, -This was an increase of 20% over November, when 96 coaches were delivered, This total, representing combined production of the company's Kent, Ohio and Buffalo, N. Y. plants, consisted of: 40 34-passengen models; «3 38-passenger models; 17 44-passenger dual engine models.—V. 164, v Provision for 150,000 contingencies--— •, Dividends received from ,23,360 .?->:;.v;; important The Bapids, Iowa, . Federal income taxes Add to Service— Balance, surplus ——-industrial cities of Milwaukee, ' Wis.,"' and Cedar k Dividends' pald'-.u-»«*.*.s-.«T.^.--wi-^^-^f--— have " result , , of a Civil been added Areonautics to Board ' United Air decision system as • a down Dec. - 30,; : Surpius for period— ■ 1 -v Route to Honolulu in April—* " ^ The corporation has announced that it-will open service in April over its new 2,400-miie route between San Francisco and Honolulu, thus to provide one-carrier passenger, mail and cargo flights between the Hawaiian Islands and cities all along Unlted's nation-wide system. W. A. Patterson, President, said that inability to obtain proper •equipment; has held up United from starting service to Hawaii since the route was awarded the company on July 2, 1946. - , - Mr. .Patterson also, . v U. S. Notes $1,018,618 7.7,407,300 $708,211 283,381 7 $424,830 300,000 ; —. • _- Fixed $1,630,501 800,853 : Government obligations—^———™ accounts receivable—,';,— — assets (net)---. —.———-,— .Investments iit subsidiary Postwar refund of fexcess companies,, cost—— profits tax-«t.-wtrw-Bs. 855,259 - 1,863,891 _————1——-___— Other -assets • $124,830 $611,318 7 Earned , surplus .1,500,000 6,500,000 — 6,500,000 ll,484ill2 8,870.524 — . 7,522,771 $41,180,448 $37,435,153 Total . »After reserves for depreciation of $7,021,417 in 1946 and $6,198,023 .In 1945. VtRepresented by 1,292,485 shares of no par value.—V. 164, 7B*: 3I93,;;;!<:i;; • ;•}'!777' 7 ■- fr 1,776,534 440,431 668*103 ; Washington Railway & Electric" Co.—Deals Appyovecl The SEO on Jan. 2 issued an order approving Washington Railway's proposed (a) to purchase from Washington & Rockville Railway, for a cash consideration of $132,500, 19,250 • shares of the outstandirig: •7. ' capital stock ; COMPARATIVE BALANCE SHEET ; and ^Inventories pointed out .that United is terminating its trans- :h «> » ASSETS-k."'i-'NOV. 3, '46. cash ; . $1,629,699 €11,072 Lines' handed bringing to 64 the number of cities certificated to be served by the company on its coast-to-coast and Pacific Coast route. United officials have not yet indicated how soon flights to the two cities would start. To Operate '■p': 2,000,000 11,484,112 (par $100)_ tCommon stock ; ^ V United Air Lines, Inc.—To v leased, properties, etc.— \% cumul. preferred stock ; $708,211 K subsidiary companies-- , [ P. 3460;- ,};■ , $1,606,330 Balance 4,45 $812,783 104,572 $1,756,330 < ;r Nov. 3,'46 NOV. 4, '45 $939,108 • 1,011,237 314,541 1,626,145 1,649,483 411,205 7 v .• f Potomac . proposes to , 7 ! • lend and advance to Braddock, from time to in the aggregate $14,000,000) temporarily the ^struction time, funds in the amount (not to exceed necessary to enable Braddock to finaiice 208,203 $3,172 $7^435,572 r $6,1^3,094 (the holding company system of Washington Railway. * . 4 of Braddock Light & Power Co. -owned by Rockville remaining 50,000 shares of the total 69,250 Shares of outstanding capital stock of Braddock being owned by Washington Railway)' and (b) to sell to Potomac Electric Power Co.' 69,250 shares (all of the shares outstanding) of the capital stock of Braddock, for a cash con* sideration of $632,500, representing the cost of such' stock to the facilities which will be used "priln'arily for - the Mrpose meeting! Potomac Electric's anticipated future ^uli^iHefltS. fti Con* of generating Of Volume 165- Number 4559 sideration of Braddock will promissory payable ea6h:ioan notes, bearing oh December I and execute-and 31 THE COMMERCIAL & FINANCIAL CHRONICLE advance, afid deliver«'■to interest of in the Potomac! amount Electric at the rate of 3V2 % year.—V. 165, p. 115. each thereof* Western ;Maryland its "demand per Period End. Nov. 30—- annum, . Operating ""Oper. Washington Gas Light Co. (& Subs.)—Earnings— ;: v. 12 Months Ended Nov. 30— Operating Operation j-—. Maintenance Provision of \ 1946 " 1945 / $14,660,794 $14,278,975 revenues • 1—* 9,734,616 898,905 «; operating charges deferred because conditions-,.,..— war .*/" Net and excess 948,378 I.. inc. 836,798 150,600 '' J-i.■5" $2,091,497 $2,212,701 , 16,729 rents Prll,419 :Drl2,861 Net ry. $397,136 (net) " $634,157 $4,585,229 32,720 "*[■' 207,587 $666,877 $4,792,816 2,865,002 . income oper. 16,107 income-, ($413,243 " $105,966 $2,211,914 , $1,061,520 accounts — 2,696 _____ 85,243. i' ^ . ^ $855,098 " l:'~' •/l. Washington Water Power Co.—Earnings— : ; , Net rev. rtnn Vinp.6fn<> income All fr. tfiv tax ;$5'S«1 ^ 7,;^ r income— oper. fac. ^'65,039 '"$772 ,615' 142,720 lnc._l * ; $302,301 $3;482,634 •Extraordinary• tnon-recuMing tax 540,015 H .' 622,518 $1,734,923 "Equally21arge; 8ains=?*mrje-made *" * " total seat miles :for ^ from ini other .1946 i^irticipation traffic- phases against as. - SlI";;®3'tte'"EARNINGS -November— * Gross'from railwav * $ with r*ec Net " OF COMPANY '1946 , -Increases of were, also reposrded in for this 10,600^328 - total - is r 4,516,337 434,034 total miles "flown. the * »■ * . >" $4,271,976 tniles marks tons" and r /The air 'increase an air * for record * Net , just been carried 1945, in a new 522 but a 1945 with a J,^ wide mark Of 63.44%.—V. ;; chasm as development this year. Only 12 tons were recorded in .1946. Air freight yeard 6284. 81.47% 1946 165, p. —- - , c. ^The statements elusive, haVe been 526;295 —— - $6,263,801. ■.? credits ooa holders old the of common.-—V. " • .«• eltfc;. 184, \ • .v. - 32,964 . 13^8 9,448 $25,302,669 $22,173,781 $17,281»I3ft MQ;826il69: tn" '22,531,831- 20,764,137 f , i ^ of 27,501 . to during reflect the , k income, for the revised to Income 16,505*m 45,002 27,501 $297,942 $340,315^ ,>'«> v 60,25» . ''""V' the fiscal 45,123 ^ fiscal 1943 years 1944 "* ' 43.37* to 1945, to those year®-tut allocation year for 'A?. oo^-P^s-Mixed-fee 1 * 'ffr v.'V* * ' 2,181,819 ^ -1,377,238 recoverable costs contracts,? charges : of i 10,829,597 tq» companies in is it as alwaya alphabetical Alabama—Earnings—- from " • $369,104 - ~ or markets, $1,276,929; cash ieceiv«blfe:$rbm former 285,566 ; 164, p, 3193. 334,086 .. '1943 Western Union Telegram to 115. ^ >'?: the pew good will—at LIABILITlES-r-Trade arising from companies, guarantee acquired liabilities of $53;392; misceliaho«i%. cost (after for reserves depreciation cost (less amortization amortization of (less oP of $28,944), on accounts and provision for renegotiation preferred iJ'S" and wages - • % from 613,125 \ dividend stock, payable Sept. 1, 1946, $31,260; salaries, $108,374; pair roll "taxes and amounts withfeftNL $69,844; accrued interest and miscellaneous taxes, $14,732; Federal and state .taxes on income (estimated),• $183,230; "mortgage payable in quarterly installments of $3,125 each t by real estate (seciwcdi having a'net carrying amount of $323,850),, $87,309; ." mortgage payable (secured by real estate having a net carrying) amount, of 4,892,030 2,097,219 .. employes^ .. $272,378)yv$45,000; . high . 5%a cumulative convertible, - preferred common'stock (par value. surplus, $137,543; earned surplus, 164, p. 998. A'.:r; stock, .(par value $25 per- share), $2,500,000; " $2 • per share), $800,000; capital "$1,661,828;:.total, $6,851,891.—V. communications, -service; -service (less reserve - of $24,343*, (first-ln, first-out metlmd) insurance, $105,439; ' ^ -.on Jarii. 8 opened speed customer-to-customer oable service, known as.-.-International Metered Communications or IMCCL'vi'^" " For the first time in the" history of written-record new ^ ■ $11, $705,447; ^erred ,charees (P^Paid taxes, insurance, and other expenses) $66,793; total, $6,851,891,.. y,.'■ -* - •=.. 51,242 Co.--Opens IMCO Service--- " Mayor "William j? O'Pvyer i.Qt„ New_. York. Dity Western 1 (at cost phaat Federal taxes oo. of - -$189,001; " ! . refund receivable, investments, and deposits, $14,754; travel ach vances> and accounts receivable from; officers and. employees-$4,KX);* property, plant, and "$464,889 174,21€ 488,895, , in escrow Stockholders of accounts " - for surrender Value of life equipment $442,047 5,128,806 1,859,598 900,370 funds AUG. 3r United States Savings bonds claims $560,024), $1,802,397; patents—at 3^972^ 4,733,641 number of income, $59,383;. trade accounts receivable j!"$li344,889; inventories—at lower of v'V, • 2"'. 118,329 - x, interest),; $58,808; >212,590; 3,510,455 _ ASSETS—Cash, $1,139,917; XAX: \ ^railway—324,617 Deficit.—Vi -" '• i; I946^'J-'*'i945^*":rVl944?" ry. oper. income one alphabetical near , cost not exact „ iBhares of common stock; tTom *300*000, to; 400,000 by the issuwioo* as a. stock split-up and adjustment of capital structure. ^additional share for each; three shares outstanding. Dividends. years-prior to 1946 have been adjusted on.tfeo.< shares outstanding at Aug. .31, 1946. V;>.: accrued ■ ,=from'?railwayA^ia^''^;"-^»7O6l;^%l09,665 " 20,80? "* ^35,087 Net ,u Ihc,fiscal year1946 tlie; CONSOLIDATED BALANCE SHEET, .7,735,742 Net Ty. oper. mcoiUe-%1 tNet . '* i^' '"** reason* However, they-axe always Union's for 4945 1047' . "• ,": V, From January j. Gross from railway express ton 738.4 express miles for this year were 185,152; for'last The overall weight load factor dropped from ton - 447,538 over, ton miles."' " 'freight i comparisons reflect freight has were the over carried 306.565- express 1945-1946 . tons 29,287 TiT $11» ,140,246 income' 1?®on^e • fund,* interest -1044 - 6,504,995 .. 'November-"^ from railway—$318,362 - express the the " ; Gross -. .1102.8 to of . pre^Nld first mortgsige shares, ($12pwr). ./''•* 56,319 <:'~yX cargo 'total, of *VA —— and reconversion 182 306 - 503*537> 6^ _ arrange * 1945 a order, i to Western Ry. of , division the mail tons carried dropped to 18179 figure of 3347.4.- During 1946,.; 695,323 mail .ton miles were'flown while 1,120,184 mail ton miles* were totaled in 1945. -? from Total 'A.° - }^peaitim^syposail^y;;:XXA<:XX^0XkA^XA}A^AhJ'^Ah < " In .'» • that It will ari 3Va% common $6,972,402 ^180 794-^ 466 1,406,624 * NOTE-—For mechanical pMsrfc/e i. t: miles, flown, with a miles flown were revenue year.»-Non-revenue ; I'-** ff. percentage of non-revenue miles flown to total* miles 6.37."-The" statistics -for 1945 were 7,279,009 revenue miles, non-revenue'miles resulting in 5.63% of- non-revenue, miles to , ONLY,K 1945 • rauway^r-r« , 675,130.'- The flown .» It: file '»1944 • " *19^3 V $11,110,959 $25,269,705 $22,164,333 $17,267,Wt* sales otoerinr^"^^ UMier "icome $3 886155 ~$4-4M 768 ralfway11 383'574 4,383,574 irom from with. 311,? - * miles for.; 038,852,497 3945"' Revenue"'passenger"4nlles tdtal "220,597,000 for 1946 and 107,105,887 for 1945; Non-TevehUe -passenger miles for the same "years respectively are 3,523,000 and T,3€9,026. These figures result. in a passenger "load factor of 70^5%" for 1946 and 64.34% for 1945. figure 90% holders i to Woodall Industries Inc. (& Subs.)—Annual Report; 31—^ ; 1946 i ' *1945 U. 2,466,586 .. " to - : • . ffe&fc ... an ?A379,000 >\ Fiscal Yrs.'End. Aug. Net "'^T'78*534 $4,956,307 $61:?5I 'tB%S ♦Amount available for contingent charges, i.e., capital requirements on general mGrtgager 4Va% income and other corporat doubled scheduled2miles INet ry. oper. income—_ total passengers carried, as compared with21945,., yet main-. ;V.- 164, p.*3194. operating efficiency of 96.08%. The scheduled'miles flown v, V In 194Bnneffibef""00,S04^980;rtbtal passengers number -565,794, . 132,800 810'28.■ poration reported -that la 0.946 at-more than tained early date and and ., flown and " an structure of $1,750,000 the whlqli =$2,357,441 942,619 Manufacturers Trust Co. that Wisconsin plans notes $l,750,800t of $625,41$ epurposes. —'C.'$97^464 of informed was ' 00848 ,,.,1,-78,534.,; " Prov. ^d'^^^-^ t jfpr Fed. taxes on 1,303,683J 222,614 " $829,578 Dividends' appHcable. tn pfd.-'stock fqr periQd-.< v by institutions consummation 508,800 >147, V200 inter.' ^ controlled upon $1,033,247 oih" charged to "con* ^v exemption from competitive' to company stated that this is reorganizatl®n4, 3194. p. an proposed' sale ga®,e bonds" -The proposed ■' msco 3in tii-r ; Net:: Income. ' resP®ct to its m a ; , a request for 10% 2,408,362: 971*933 * 971,933, 46,947 r struction 2,820,039 20,594,574, 3194. p. c^!??on 4i' ^ be allocated stock and $10,185,409 $21,679,887 acquisition,' Other 5,593,329 1,539,381 > rents ."^^^SSSLSSSr^iTs:. Ambrf/iof Interest <• 937,674 ^11,629 ^ 1,230,381 >;. 1.234,559 " ^ nio 404,912 . 111,157", Net ry. oper. ' " 4,223,956 ... .reorganization plan, at *•- J-—111,987 Jt. Dr) >f;* 19,634,962 ary^onrt Commission amended . !$li400,67i:iaiki;3521635 Opels. ry. other Ry. "vvGrbss income Intfest on1 step $4,643,153 $41,734,624 $57,366,215 3,290,518 31,549,215 35,686,328 2,727,552 . Tax Accruals— •'' Payroll (net)--i,^; i? in; Subs.)—Earnings— $4,128,223 I' Ry. Peridd Endi'Nov. 30—; M:1946—Month—1945' 1946—11 Mos.—1945 revenues; ,-Jk $1,057,158 $981,072 $12,371,563 $11,578,528 183.984 2,732,919 w; 01/« $3,296,453 Ry,' and Tidfewatef Southern Ry.) 1946—Month—1945 1946—11 Mos.*-1945 •A 450,798 4,255,843 railway Income— oper. wJit^„COnJPuny kas" fiJec* 2,989,357 (Incl. Sacramento Northern .Period End. Nov. 30— , 1944$1,774,404 *407,561',. - . Competitive Bidding Rule—* $6,285,810 """.29,467* 1945 $1,735,565 *151,707 461,834 466,553 • . bonds, T^nn^apt^! $250,000 3 to serial Ry. operating revenues,. operating expenses- ^ , p. 3194. Western Pacific RR. (& i X $617,490 —V. 164, 1946 $1,937,563 ■ Wisconsin Hydro Electric Co.•Seeks Exemption From, $5,949,885 335,925 $1,927,814 .=, ... _ ^Deficit.—"V, 164, # » railway.--—u.,' 20,853,868 from ry. Drl72,416 Ry.—Earnings— ,••••, railway- Net Cr886,428 470,015 —_ '"-l-l"-"— incomb $5,235,873 ♦Inch amort, of defense $1,325,113 stock—444,030 * $373,581 .' Net ry.-oper, Income From Jan. 1-h ..; Gross from 4,726,000 . - railway^.— .longer be 886,801 ; from Net from $9,961,873 $4,057,994 Cr660,307 J3rl33,072 293,296 Operating her * ' 307,277 Net income ; $7,629,994 3,572,000 November— Gross Net Dr787;< deducts,; incl. special charge1,046,706 164, P. 3193.'V $532,306 Crll4,712 Fixedcharges—— , f $339,003 Cr69,552 Other income.——— :• Balance facil. Gross •>"* Net -V. "" 927,813 income$2,108,226 income Dividends on preferred 227,000 615,940 —'• ,' Gross Int. and other $759,306 285,000 Operating income, L Equipment rents— . 856,785 f profits taxes„_ operating revenues————————i— income. '.$624,003 i 43,813 : Fed. for revenue- ; Joint General taxes Other 886,783 , Depreciation Prov. 8,735,140 •; for oper. Taxes Wisconsin Central 1946—Month—1945 1946—11 Mos.—1945 $2,538,918 $2,575,828 $29,144,904 $31,662,568 1,964,915 1,816,522 21,514,910 21,700,695 r^vehues'__l- expenses———: ,; Net ' • Ry.—November Earnings— permits the permits.-^ the businessman in New York having * a * •> + (P'W) Woolwnrth his office to correspond fin1 T)o/>omkoi- q0i0„ T»,r.».^oa«url directly- over - a submarine cable -" j-a.-with a businessman in with -iq nA > ^ * Sales, Increaseo* London whose office i« similarlv couinnpd Period End. Dec. 31— ; • 1946—Month—1945 ' 1946—12 Mos.—1945 office is ■ Itf.t)/o > similarly equipped. .< ' ' •VV-. ; $ Through an adaptation of the Varioplex $ system, invented by Western Period End. Dec. 31— I Union engineers and used Retail -sales^i.^— 7 634.000 1946—Month—1945 during the war by the United States and 4,695,000 58,592,000 31,414,000 1946—12 Mos.—1945 ; British Governments, Wholesale sales— this first 4,358,000 direct 2,553,000 49,036,000 :: $ 27,396,000 customer-to-customer cable Sales-v»"— service was made possible. ' 86,093,208 71,751,196 552,355,364 477,131,870U \ > —V. 164, p. 3194. = Known as "metered" service because Combined sales an automatic 7,248,000*107,628,000 58,810,000 —'" 11,992,000 meter connected with the circuit registers the number of characters Retail units in transmitted by operation at Dec. 31, 1946, were 243, compared the operators at each customer's Zenith Radio Corp. (& with 235 last year, and wholesale accounts were office, the service is on a 1,696 and 1,515, re¬ monthly basis at the rate, of two cents per character.—V. 164, p. 3338. ^ 6 Mos.. End. Oct; 31— spectively.—V. 164, p. 3193. " 1946 1945 % 1944 1943. tOperating profit——. •Western -Auto Supply Co.—December Sales ucsiciu xsu. *»f J Up 65.5% ""teleprinter m December . ... ... . . , ( . ^ ^ , B1K . Subs.)—Earnings— „ . ^ Western Light & • Telephone Co,-~-Earnings-~ 11 Mouths Ended Nov. 30— >. > .' ' • The Net operating incoir $984,307 Interest • $989,684 and other available deductions. r" / Dividends on dividends- $810,142 173,646 Balance -1 .; •Including p. 2738. for provision —$636,495 " $636,495 for income;taxes - "*■ , Ruled Unconstitutional " 1 - Holding Petrillo" tional, t the law so-called to be "Anti- unconstitu¬ Federal Judge Walter La Buy at Chicago dismissed s'Dec. J. on 2 governmental charges of "violation of the Lea Act, its more formal C. title, Petrillo, filed against James President of the American Federation of $672,034 „ 211,411 $460,623 164, f " Gross ■ V'; pel broadcasters to hire Net from ry.- oper; more em¬ per¬ . La Buy, advices, said: "The court holds that the ute here involved in the stat¬ applica¬ sought to be made vio¬ the cause of indefiniteness and Amendment its !' Net 263,382 , . - : sification 3,289,234 * • , • " 23,091,768 ♦Loss, be¬ uncer¬ a crim¬ the First restriction 1943 t 263,466 Zero 9,798,159 mon common Woll, United States prosecuted action against Petrillo. \ the . ' Wilson Resigns as Chief of U. S. Secret Service Frank J, Wilsony Chief of the United States Secret Service since 1936, and for 26 years a Treasury guished com. share career has '■) ■ ' ■ 1» , ;"3,466,390> ■ for $90,049 Nil After'depreciation, but excise stocks i ' i taxes and Foods 19 2,072,78? $2.92 «f ! . ni MI % . 164, Co., filed p. reserves (including 1% 2593. Inc., with ift Bremerton, Wash«- letter of notification with the SEC' 5% cumulative preferred and 200 shares of .rom.*. be offered at. $100 a preferred share and $250 a without underwriting. Proceeds will be used fcr wfcp-*Y business. •' =. •" .= • >:■>>v. 'iv ., . the a . Depart¬ Wilson has been on temporary de¬ tail to the Office of Chief Coordi¬ nator of as Enforcement, serving first Assistant to Elmer L. Irey, the Coordinator; and since Mr. Irey's recent retirement, as Acting Cc*~ ordinator. Mr. Maloney has been. Acting Chief of the Secret Service' during Chief to succeed Mr. Wilson. Mr. Wilson Chief period. be 60 when Revenue. In Mr. 1, The retiring? old next years May. began his Treasury career in 1920 he was appointed Special Agent of the Intelligence Unit, this will • • Maloney, who will become of 1947, the was ■■ $2.64* will contributed Internal • ^ C'li/-.',. share At the same time, Secretary Snyder announced that James J. Maloney, Assistant Chief of the Service, is being appointed Chief of , price reduction and renegotiation on w** provision for Federal taxes, JOn 492,464 share* greatly to enforcement, not only of those laws within the jurisdiction of the Treasury, but to the cause of law enforcement generally." • " • Bureau " . $1,437,722 ? $1,300,121: $0.19 - voluntary before Frozen vestment ment '■ *$649,649 The company on Dec. for 1,94.0 shares of 3,551,555 other 279,113 ' "■""" * Files With SEC- 24,362,065 employers • : $1,795,107 533,293 2,991,489 .between ■ capital stock outstanding.—V. 23,112,281 8,266,994 Judge La Buy's ruling will be directly to the United Supreme Court, according Albert 4" of »"•" — reserves 4,910,279 States J. v. 1 appealed to Crl,549,304 V-, ■' $4,904,112 ;'$3,372,908^« V . 2,664,251 and employees and as to communication industries." " 1944 f " " as / :• . $369,162 profits . X tEarnsvper Jtjq ,.v.- exc. profit contracts) $2,070,125 771,331 j 227,288 Attorney, "who v lates income.^u 164, Pi 3460. ""x"" opinion, Judge according to the same > $1,695,738 324,104 382,914 January 1—1 "" " * railway.— 19,516,483 Net from railway.—— '"' 4,837,463 of "v 1945 $1,868,017 From form actual services.":: ": In an eight-page by 1946 railway railway^—552,159 Net. ry. oper, income— > ployees than they "needed to Fifth ,'V & Secret Service Jan. appointed Assistant Chief two years ago upon the re¬ tirement of the late Joseph E. accused'of violating the act by upon freedom of September, 1936 he was trans¬ speech by peace¬ Department calling a strike at a Chicago radio law enforcement offi¬ ferred from ful Special Agent in Murphy. He is 50 years ; old, a picketing; violates the Fifth cer, will retire on " station in support of a demand Dec. 31. Secre¬ Charge, and Thirteenth Intelligence Unit, at native of Binghamton, N. Y., and amendments by its tary for hiring '.additional ' musicians Snyder, in announcing his Cleveland, Ohio, to restriction upon Acting Chief for 12 years before his appoints employment of approval of the Chief's whom the station contended were request of the Secret Service, and he was ment in 1931 to the Secret labor;- and violates- the Serv¬ Fifth for retirement on >, unnecessary. The law was enacted Dec. 10 said: appointed Chief January 1, 1937. ice, was a law enforcement Amendment by an officer" arbitrary clas¬ "Mr. Wilson's long and distin¬ Since May of thisyear, Chief in southern New York State. ■ • from from *-r—V. Amendment bee^ ap¬ stock, series A, cumulative preferred stock, series B, $100 parj— ". November— Gross Musicians, tainty in the definition " AFL, Associate Press Chicago ad¬ inal offense; violates vices stated. Mr. Petrillo had been qm has inc. taxes 1945 227,441 depreciation.--V; tion here the City of New York cumulative preferred Wheeling & Lake Erie Ry.—Earnings— by Congress last spring to prohibit compelling or attempting to com¬ Anti-Petrillo Act -.it,-- and of 3V2% _ 8,02? $899,477 179.541", preferred stocks. Bank the 164, p. 3338. Net Net National registrar of and 3.80% par, " $891,449 .5,377 Gross Chase pointed $100 ;? V. Non-operating income Fed. Westinghouse Electric Corp.—Registrar- , }9,\5aAr> , Operating-revenues •Operating expenses<tf0 - . *$2,198,953 . " ' COMMERCIAL & FINANCIAL THE 258 99115634— * .— • Gross and lie! Earnings of United States Railroads for the Month of September earnings were the third highest recorded in the current year, and the net earnings were less than in January, July and August. 5 ; ; The gross earnings for the month of September totaled $660,401,991, which was $18,476,865 less, than in September last year, and equivalent to a 2.72% decrease. Operating expenses were also less than in the preceding September. For the current year they were % Amount Operating (Net 560 — 18,476,865 620,967,538 91,169,039 (80.22% ) (91.47% ) to earnings— . $57,911,318 $130,603,492 ~ earnings . regions came by the New; England from a low of 1.60% The. decreases ranged earnings, there one The Northwestern and Great Lakes regions with advances of 28.73% arid 4.99% ing table is presented a complete picture of " District and Region * . footnote appended P%0,il946' i Eastern District— Great Lakes Total 23,276,709 Southern " ,.l ***** wwr 1918— 1919—- + > + 84,791,183 ^86,887^839^ : "34,968^960 t* 118,758,985 119,760,143 Y •? 3,097,814 + 1932— ;.+. 1,001,158 + 19.84 - 5.12 79,200,523 83,470,720 142,371,140 164,880,613 22,509,473 -13.65 53,429,494 59,444,961 6,015,467 -10.12 Northwestern region (16 roads)— Central Western region (14 rds.) Southwestern region (20 roads)—- roads)_^—„1 all districts (129 roads)-. ^Total, 307,796,294 660,401,991 ; 32,795,137 678,878,856 275,001,157 Total (50 .18,476,865 -Net District and Region— Yy;.Y YYyYY-^-Mileage—•l•• Inc. 1945 < + ) or Dec. (—) ' " $ 2.72 Earnings% $ 1946 1945 -6,541 3,617,738 4,741,184 — 14,074,472 + 669,018 + 4.99 — 712,583 — 2.94 Eastern District— New Y; 1946 5 —10.65 — - $ , - 1,123,446 ■ —23.70 region 25,429 6,563 25,555 Cent. East'n region 23,880 23,880 23,555,568 13,405,454 24,268,151 55,850 55,999 41,247,778 42,414,789 1,167,011—2.75 England region Great Lakes Total . Southern District— 1,387,113 8.67 Southern region—* Pocahontas region- 37,231 37,319 6,Q14 14,617,852 ,6,042 11,542,306 16,004,965 6,500,578 5,041,728 477.56 Total —1— 43,273 43,333 26,160,158 22,505,543 3,654,615 .+ 16.24 _ ^ >>v. - ,-Western District— ' Northwest'n'regionL Cent. West'n region .45,587 54,512 45,675 54,663 Southwest'n 28,473 : 21,397,103 . - Total —;—* 128,572 129,923 , 63,195,556 : 16,632,409 ♦7,009,014 4,774,769 + •40,263,757 12,005,077 + 16,622,334 29,793,376 28,585 region — —17.59 242,341 243,322 —117,073,774 —25.08 242,815 242,593 77,612,781 23,446,244 16,643,258 —22.20 242,292 242,143 8.62 240,992 238,977 239,904 5.70 31,408,547 + 11.41 237,431 238,819 + 16.34 236,686 236,918 lint and 1.68 235,304 235,886 on —11.13 234,423 235,308 + 18.13 233,378 234,236 0.37 232,708 233,373 + 27.99 + 11.28 232,110 230,532 229,218 232,137 230,442 2.93 +28.73 70,057,133 50,080,594 Total, all dists,- 227,695 228,255 ""Deficit. . x-, Y :• Y , 6,005,266:.' 58,381,250 — i , % New England __ New , 1937— line a from and line a Chicago through " 89,398,733 thence to the southwestern vO; fit? IBOUtj3.,.;Y.*-";• ''/'V -[ St. • V;'* corner ^: Southern Ohio the Region—Comprises River to point 123.785,757 of east 114,280.071 a '• + Region—Comprises ...• . the section ' adjoining Canada lying west of the north of a line from Chicago to Omaha and thence to Portland, the Columbia River to the Pacific. Y-.Y Y Y Region—Comprises the section south of the Northwestern Region Chicago to Peoria and thence to St. Louis, and north of a line to Kansas City and thence to EL Paso and by the Mexican boundary ' " • Central Western west of from St. to a line from Louis the Pacific. Southwestern Boutn of St. and Louis Region—Comprises the section lying between the Mississippi River and a line from St. Louis to Kansas City and thence to El Paso, by the Rio Grande to the Gulf of Mexico. cotton —24.12 18,026,891: L 193,233,706 13,799.429: 178,647,780 178.800.939 183,486,079 147,379,100 55,161,214 92,153,547 83,092,822 92,720,463 11,129,616 1 90,537,737 40.76 11.32 + 8.48 t 36,255,079 £ 277,964,935 - j 57,984,402 130,603,492 active vember, 1945. ' 9.83 — + 20,938,789 —22.58 , f 16,564,585 +22.88 •7,480.143 129,871,715 — + + r— 54,296,709 121,348,284 A, 378,395 176,739,349 + 298,087,633 298.501.103 — 57,911,318 of the Philippines,' reported; to have stated in course of; Rddre^^:ori^•.ltov.^0v.4tot^•e;:bRVfi^•^ an agreement with the United^ , States •; +44.35 -. + 68.66 + — 20,536.168 0.13 6.88 —79.14 —219,980,533 + 72,692,174 277,964,935 5.76 + riianufacturing industries increased to * v Says President Manuel Acuna Hoxas,; 13.39 19,749,522''» ++22.21 7.57 8,226,506 9.82 9,859,213 + 43.44 39,328,587. + Roxas —37.43 125.52 Earnings Rise in Sept. labor Dept. Reports Weekly earnings in Have Bases, U. S. to —19.74 v 9,060,608 122,441,917 V 21,524,396 . 90,543,128 176.738,626 tober, 7.13 •r- ;+: 0.86 1,711,331 •' ^••+vl>46 2,612,246 100,396,950 ; were + 14,996,918 72,390,908 88,955,403 298,087,633 298,466.028 $45.10 permitting her to establish ' (Manila) for the raut here bases tuapriefense ©tour two countries,".' although ho ahnouncoment to, effect had previously been made, ; in Washington or Manila^ according to Associated Press rid+'• vices from the Philippine Islands.' i On Dec. 2, the same advices con-* tinued, Mr. Roxas, amplified his' earlier statement by explaining that;. while " it was agreed that bases iwould he established, the either $4 above a year ago, according to pre¬ liminary estimates released by the Bureau of Labor Statistics re* question of their exact locations^ is ?tilpundef riegotiatiQp.vThe Aa^v cently. Retail prices of consumers goods rose about 13% over the spciated Press added: V same period, | , "From high United States Army The Labor Bureau's announcement added: advisory sources it was learned present bases at the; The rise in weekly earnings, evidenced in both the heavy and that the mouth of the Pasig River and at ' light industries, reflects an .average increase in hourly earnings of other strategic points along the' 13 lk cents over the year which more than offset the effect in weekly waterfront and in. metropolitan' ManUa are not necessarily perma» j earnings of^^ hour reduction in ther:aveTa|e Workweelc. nent. ' a■l'.'X.':.5'-l'-' Preliminary averages for September are as follows; in September 1946, more than . "President Roxas said that the Hourly —- Durahle matter of base sites * U2.3 119.7" 104.7 40.2 Final figures for August show that 18 of the 20 major manufac¬ turing groups had higher average hourly earnings than in July. 42.15 ^ , the^ dominant factor in effecting while the payment of prenrium" rates for a large?, number Additional wage rate increases, were these gains of overtime hours was a • Average hours 40.4 in^^ August, the Great Lakes Region, and by 9.53 10.41 k +22.34 30.137.287:;: cotton November, . compares with 21,753,942 spindles active during Oc¬ 1946, and with 21,136,373 ' cotton spindles during No¬ which + + • spindles active during 2.79 —16.08 ' public storage jmd 1945. There + 159,216,004 176,936,230 , 30 ' 8,905,693 11,372,524 + 109.232.938 On hand in" 6.22 + . on gt' coippresses on Nov. 30, 1946+; there were 6,212,240 bales of lint ■ and 60,507 bales of linters/ whiclv ; compares with. 5,887,999 bales of * lint and 45,412 bales of linters on Oct. 31 and 10,613,299 bales of lint: a nd: 50,444 balekof linters oh vi «, 19.90 —i 3,190,550 18,828,861 : —' 117,131,459 'M 93,423,391 122,391,572 1943— i.Y'". of Northwestern Region—Comprises , Mississippi River the the section east of the Mississippi River and south Kenova, W. Va., and a line thence following the WESTERN DISTRICT . and .• ' + 0.82 + • 2,105,694 bales of; consuming establish¬ Oct. 31, 1945. — Nondurable near by the Potomac River tp its mouth. — - 'Nov. 30, 1946,; which ; compatcs with; 2,618,941 bales of lint and159,10& bales of linters ony> Oct. 31, and 2,204,910 bales of lint, and 258,412 bales of linters Ah + 11.24 < 40.1 40.0 the southern boundary of Virginia to the Atlantic. the section north of the southern boundary-of Kentucky and the Ohio River north to Parkersburg, W, Va.. and line from Parkersburg to the southwestern corner of Maryland and thence Pocahontas + 12,572,543 7,699.654 J$45.10 47.95; boundary of Kentucky and eastern Virginia, south a 5.20 18,546,361 + 129,871,715 1940—1 of Maryland and by the Potomac River '•••A 6.64 — 72,692,174 +125.52 + t- Louis 1.48 + (cents) ■ to + 748,914 + .N©- 199,247, bales of linters hand in ments Earnings SOUTHERN DISTRICT '*i ,* Peoria + V 93,181,915 • 4.36 — •. , 111.875,296 . ; + 15.84 $12,505,314 4,116,532 + 1,321,815 i + 6,035,612 5,153,067 + — V00,842,946 98,000,260 91,274,033 1, | Decrease (—) 94,307,971 Hours and north of the Ohio River to Parkersburg, W. Va., Ohio, River, Year $78,939,440 Weekly ®rea* ^akes Begion—Comprises the section on the Canadian, boundary between England and the westerly shore of Lake Michigan to Chicago, and north of .a-line ' * , ©f Increase (+) or Preceding - ago. k'kT:' ■ There were 228,255 Weekly EASTERN DISTRICT Region—Comprises the New England States. the mouth of the to 228,615 Earnings -.Central Eastern Region—Comprises the section south of the Great Lakes Region east .18,476,865 70,204,570 from Chicago, via Pittsburgh to New York. ■ 229,050 228.494 227,695 ; 1 All Manufacturing r _ 228,551 + y;, :Yr/Y-v-Y'Y Y ^ Y: 232,749 2.72 + ending of linters, which: compares 2,941,881 bales of lint and ,331,352 bales of linters in the corresponding period of a year —15.02 — '■* ';•' bales • —27.82 grouping of. the roads conforms to the classification of the<Interstate Commission, and the following indicates the confines of the different and regions: groups + 42.71 4,627,332 57,911,318 130,603,492 + 1,426,422 106,947,169 + 208,817,153 + 78,746,806 + 22,741,652 —120,051,247 + / with 240,563 - — note—Our commerce V ■ + 40,346,921 " ■ + — 88,910,238 ,108*659,760 100,31*5,949 t > 108,622,455 1946— 15 241,447 99,634,540 29,046,959 1941— 4,270,197 239,499 241,704 37,441,385 1942—_ ^Western District—; ; 237,854 240,693 — -'-. . consumption was 3,482,650 bales of lint and 344,8J2 235,977 238,814 + 9,812,986 + 91,858,924 134,911,897 : v months 4 236,587' vember 30, cotton 236,779 147,231,000 02,217,886 i 83,092,939 94,222,438 71,781,674 193L- 9,72 „ ' 1.76 — .liutcrs ;in the In 1.77 9,980,689 181.413.185 1930 **.2,09W58>'*—i ^2.41 + 31,871,146- ' 24,192,009 26,058,156 4.28 ■ 180,359,111 1928— + 5.28 236,752 + 179.434.277 1926 13,317,114 235,640 ■T. 4.51 -1945.' 236,525 ^235,178 120,428,552 177,242,895 191,933,148 1925_„. 378,032 — 1.60 7.977,658 J340 5,717,488: + 4.40 + 235,205 235,611 arid October of lint; and 83,869 : Novembofi bales of 4.42 165.049.184 * 1936— roads) (27 98,603,683 130,065,153 ' 8.91 0.94 + 24,381,004 — 129,300,309 1923**— < region ,(23 roads)— regionJ~<4 roads)—— * V JW V ';/ > • v'$m " Total - .. —' ?®5^40,69t:LL^?52,323,577 roads)— (52 23,654,741 106,581,341 135,782,641 Southern District— < 92,847,193 92,022,947 111.728.276 124,447,839 116,086,103 117,470,621 98,302.598 102,329,084 120,604,462 01,381,593 1929—. <23 roads)-! region Pocahontas ■ 96,878,558 1917— (+) or Dec. ( —) 0.35 '1,723,772 44,549,658 L: 90,720,548 ,«i m fn* •* m 1916— $» . Central Eastern region (19 roads) , ■ region (10 roads)— New England Gross Earnings 1945 Inc. - bales ... 1915— OP SEPTEMBER \ SUMMARY BY GROUPS—MONTH . 234,559 5,116,223 $91,444,754 1 90,191,439 1924—L , 743,225 235,155 235,280 776,487,330 799,228,982 678,878,856 1914— thereto. * 23.68 —19.55 322,055,751 380,437,002 382.028.588 488,975,758 697,792,911 1913— these results. The group¬ ing of the districts and regions is explained in the 113,783,775 in linters of ; lint and 79,244 of 931,229. bales bales 362,454,728 1912 Southwestern region. In the following Of 27.82% was recorded by the 36.16. 224,922 + -Year Given 1911— respectively. The largest decrease + -Net Earnings- 1910— followed in that order 243,027 232,349 ——. 1909— with 77.56 %. 247,466 245,148 232,378 + v of. Of the remaining deficit of $40,263,757 in net last year. was a regions the Pocahontas again showed the greatest gain 248,156 10.24 amounted 877,461 bales of lint and 82,321 bales of linters as compared with 226.955 Month region came up with the largest gain in net of $70,057,133. However,' this is due to the fact that + 13.10 + 1946,j cotton consumed to 232,772 356,449,463 660,401,991 243,463 239,050 232,186 275,158,450 306,552,878 679,177,735 + + : 1.90 + 566,461,331 466,895.312 349,662,649 272,059,765 291,772,770 *———,— 946^5™--^—^: that this latter note —— ——— 238,698 6.43" 245,132 7.88 —120,753,579 564,421,630 556,003,668 776,539,717 944C._L»*,**-ri—799,228,982 It is interesting to region to the Central Western region's 13.65%. — 235,140 4.50^ 242,386 9,252,922 590,102,143 380,437,001 381,863,424 941 488,975i,757 942—697,792,911 and. 4.40% respectively. with: increases of 8.10% up — 564,043,987 554,440,941 565,816,654 466,826,791 349,821,538 272,049,868 295,506,009 939—*.—*———— The Great Lakes and Centra}. Eastern by the Pocahontas region. — 226,526 237,591 3.56*.242,097 0.02" + + 33,901,638 129,367,931 + 540.062.587 •, + 564,756,924 940iu——-—w-*>^ of 9.72 % being once again indicated tember with the largest increase —- + 229,161 230,918 + »> 12,857,844 17,783,141 38,555,541 544,970,083 934—275,129,512 935—!*_*_*_***--.. 306,566,997 936—" 356,633,472 937—._***—r— 362,454,729 938——————— 322,107,807 regions showed increases over last Sep¬ In gross earnings three —" 933——— ; J A geographical subdivision of these totals will indicate how much the-various districts and regions cpntributed to the consolidated fig¬ ures. 111999237458— 931 2.72 —14.68 ' 72,692,174 +125.52 + ; 539,853,860 564,443,591 588,948,933 930— 0.25 — 529,798,499 expenses Ratio of expenses 228,255 $678,878,856 r . earnings Gross 227,695 $660,401,991 Mileage of 129. roads_*___., 496,784,097 498,702,275 923—544,270,233 (— Inc. ( + ) or Dec. 1945 9194203— 921. higher than last September, which represents the greatest percentage increase in net earnings of any month of the current year when compared with its corresponding month of 1945. These results aire shown in tabular form in the appended table: \ 1946 594,192,321" 922—L 125.52% September- —— 217,277 12.11 + 39,801 285,850,745 276,458,199 294,333,449 330,978,448 357,772,850 485,870,475 480,408,546 617,537,676 496,978,503 499,720,575 220,205 233,428 4.1fr + report * showing Preced'g Given (—) Washing¬ issued its 17 Dec. on cotton consumed in the United States, cotton on hand and active cotton spindles in the* month of November. ' In the month of November, Year •Year (+ ) or 19,891,032 9,805,231 275,244,811 285,050,042 — — 920—; $529,798,499 as compared to $620,967,538 in September, 1945,, a de¬ crease of 14.68%. The net earnings of $130,603,492 were therefore + ton -Mlleage- $10,148,617 25,593,110 + — 272,992,901 294,241,340 332,888,990 917—1———^364,880,086 918—487,140.781 919—*__« 495,123,397 , l ( Dec. Preceding Given- $252,711,515 $242,562,898 211,281,315 910 236,874,425 249,014,235 911—249,054,036 252,318,597 912 272,209,629 909 The gross Month of Inc. ..v Year :-■ 'i'CYear Sept. gross months. 9922345678— of The Census Bureau at -Gross Earnlngs- Month ? earnings. Consumption: Oct. Cotton sumfharies back to furnish the September 1909, for both the gross and net and net earnings of the United States railroads were less in the month of September than in either of the two preceding The In* the following we 13; 1947 ^Monday, January CHRONICLE contributing factor. worked per , > :- weefc; -in ^ riianufapturlng dureblevanA hicai^rahl^^^g^ . . " increased to still was under by the ;vtwcrs go^vernments^ although Agreement had : been reached on the basic principle of study permitting: the t United States .to Philippines defense of both establish bases in the for the mutual countries.. i. ::•;.•?; "Under one American '.;,•? plan,. unr agreeable to Mr?i mountainous Mariveles area of Bataan ; would bev con¬ verted into an atomic bomb-proof derstood. to be. Roxas, the base with extensive underground5 installations. •.^ •. V.:.;; I ••;; Authorization for such a base workweek./ ThiS' is the first time this year that would necessarily have to come from the United States Congress the average hours worked in the; durable: goods group has been as i°hg. and r its cost, rwouid l run- in v the I as. in the nondurable and is th© first Unie in, four, months that the neighborhood of a" billion; dollars; average for the heavy industries has been over the 40 hour.mark. The Mariveles area would be The lengthening of the workweek in the durable goods group in¬ leased to the U. B. for 100 years.! -' "Spine American officers, how* dicates that some of the reconversion ^ifficulties and materiai short-. ever, > favor pulling out of the ages have been ironed out.-:y'•. ;........•'-.;.•,v , Philippines entirely and building l ■ Weekly earnings in all major • manufacturing - groups averaged entirely new atom bomb-proof in^ stallations in the Western Pacific over $34 in August with only five groups averaging less than $40. Of islands, where there would be no the 20 major groups nine (lumber," furniture, stone, textiles, apparel, question of their authority or -ju-. food, tobacco, paper, and printing)-had^ weekly earnings which set risdiction.". new high points. .■ -J•. Am•*: ^'-.'0 ■> ?\~ eraging the same ■ 259 State and W*. City Department BOND PROPOSALS AND NEGOTIATIONS Nuveen & Co., and Paine, Webber, CALIFORNIA Jackson & Curtis, both of Chicago, Angeles County Sch. Diets. jointly, at a net interest cost of Alabama (State of) . (P. O. Los Angeles), Calif, 3,06%,' a price of 100.204, as fol¬ ". Bond Offering — C. E. Sauls, > Bond Sale — The " $1,355,000 lows: for $144,000 maturing $6,000 Director/ of the Department of Inglewood- City School District Jan. 1, 1950 to 1973, as 3s, and LState Docks, and .Terminals, will bonds offered for sale on Jan. 7—• $30,OOQmaturing $6,000 Jan. 1, 1974 receive sealed bids until noon oh v. 164, p: 3004—were awarded to to 1978, as 314s Interest payable Feb. 5, for the purchase of $3,000,the 4 syndicate composed of the J-J. Dated Jan. 1, 1947. Denom. ©00 State Docks expansion bonds. Bank of America National Trust $1,0Q0., ' T ADated Feb.- 1,- 1947. Denomination & Savings Association,"" Blyth & .$1,000. These bonds are due Feb. Co., Weeden & Co., all of San Tulare Local Hospital Dist. (P. O, .1, as follows: $75,000 in 1948, $76,- Francisco, and the William R. Tulare), Calif, .000 in 1949, $78,000 in 1950, $80,Bond Sale The $480,000 hos¬ Staats Co., of Los Angeles, as 2s, ©00 in 1951, $81,000 in 1952, $83,- at a price of 100.675, a basis of pital construction bonds offered *000 in 1953, $84,000 in 1954, $86,- about 1.93%. Dated Feb. 1, 1947. for sale on Jan. 6—v. 164, p. 3339 ©00 in 1955, $88,000 in 1956, $90,■were awarded to the Bank of Denomination $1,000. These bonds ©00 in 1957, $91,000 in 1958, $93,are due Feb. l,;in 1949 to 1968. America National Trust & Savings ©00 in 1959, $95,000 in 1960, $97,Association, of San Francisco, as Interest payable F-A. 'V * 000 in 1961, $99,000 in 1962, $101,The following school bonds 214s, at a price of 101.63, a basis ©00 in 1963, $103,000 in 1964, $105,amounting to $575,000, also offered of about 2.06%, Dated Jan. 1, 1947, ©00 in 1965, $107,000 in 1966, $109,for sale on Jan. 7—v. 164, p. 3004 Denomination $1,000. These bonds ©00 in 1967, $111,000 in 1968, $114,•were awarded to the Bank of are due Jan. 1, in 1948 to 1968. 000 in 1969, $116,000 in 1970, $118,-; America National Trust and Sav¬ Interest payable J-J. The next 000 in 1971, $121,000 in 1972, $123,ings Association, and Weeden & highest bidder was Paine, Web¬ ©00 in 1973, $125,000 in 1974, $128,Co., both of San Francisco, jointly: ber; Jackson & Curtis, for 214 s, 000 in 1975, $130,000 in 1976, and at a price of 100.42. .. $400,000 Citrus Union High School "$93,000 in 1977.*Rate of interest District bonds, as 2s, at a price %o be" stated" in multiples of }/\ of CONNECTICUT of 100.86, a basis of: about 1%. The unqualified approving 1.915%. Due Feb; I, 1949 to Connecticut (State of) ' ! "opinion of Chapman & Cutler, of A: Bond% Offering — George 1968, incl. * A. .Chicago, will be ~ furnished. A 175,000 Azusa City School Dis- Maynard, Secretary of the Old certified check for 2% of the face : : trict bonds, as 2y4S, at a price Lyme-Old Saybrook Bridge Com¬ A: amount of the bonds to be sold, mission, will receive sealed bids toayable to the Department of State '(•$ of 102.022, a basis of about 2.055%. Due Feb, 1, in 1949 until noon on Jan. 23, at the State Docks and Terminals, is required. Treasurer's office, for the pur¬ to 1968. ' chase of $6,000,000 Old Lyme-Old ARIZONA tiated'Feb. 1, 1947." Dehorriination i -n -■< t - ■ *, : Saybrook Bridge coupon or reg¬ * 'Maricopa County, Madison School $1,000. Interest payable F-A." istered bonds, to bear not exceed¬ The $200,000 Hudson Elemen¬ j District (P. O.Phoenix), Ariz. ing 3% interest. Dated Dec. 1, Bond Election Pending—An is¬ tary School District bonds also of¬ 1946. Denomination $1,000. These fered for sale on Jan. 7—v. 164, sue of $298,000 construction bonds bonds are due June 1, as follows: will be submitted to the voters at p. 3339—were awarded to R. H. $125,000 in 1950 to 1954, , $150,000 «ri election-td be held in the ncfir Moulton & Co., of Los Angeles. in 1955 to 1957, $175,000 in 1958 Dated Feb. 1, 1947. Denomination future, ATAA to 1962, $200,000 in 1963 to 1966, ARKANSAS $1,000. These bonds are due Feb. $225,000 in 1967 and 1968, $250,if in 1949 to 1963. Interest payable 000 in 1969 to 1978, and $300,000 Fort Smith, Ark. <r •' F-A. in 1979. Principal and interest Bond Offering It is stated by (J-D) payable at the County Paul Lile, City Clerk, that he will Los Angeles County, Temple Sch. offer for sale at public auction Treasurer's office or the HartfordDist, (P. O, Los Angeles)/ Calif. Connecticut Trust " Co., Tor the on Jan. 21, at 2 p.m., a $750,000 Bond Offering — J. F. Moroney, Guaranty Trust Co.,, of New York. issue of 1%% .municipal airport County Clerk, will receive sealed General obligations; delivery on improvement bonds. Dated Nov. bids until 10 a.m. on Jan. 14, for or about Feb. 14, at place of pur¬ 1,^ as follows: $20,000 in 1949 and the purchase of $150,000 school chaser's choice. Bidders to name 1950; $21,000, 1951 and 1952; $22,- bonds,' to bear not exceeding 5% the rate of interest in multiples 000, 1953 and 1954; $23,000, 1955 interest. Dated Feb. 1, 1947. De¬ of Vs of 1%. The approving opin¬ and 1956; $24,000, 1957 and 1958; nomination $1,000. These bonds $25,000, . 1959 and 1960; * $26,000, are due Feb. 1, as follows: $5,000 ion of the Attorney-General of the State and of Masslich & Mitchell, 1961 and 1962; $27,000, 1963 and in 1949 and 1950, and $10,000 in of New York City,- will Be fur¬ 1964; $28,000, 1965; $29,000, 1966 1951 to 1964.- Rate of interest to nished the purchaser without and 1967; $30,000, 1968 and 1969; be in multiples of of 1 %. Prin¬ A certified check for $31,000, 1970 and 1971; $32,000, cipal and interest (F-A).?payable charge. 1972; $33,000, 1973 and 1974, and at the County Treasury. A certi¬ $100,000, A payable to the State Treasurer; must accompany the $34,000 in 1975 and 1976. The fied check for W V ALABAMA ■ Los ' purchaser without cost. A certi¬ fied check for 2% of the principal amount of the bonds, payable to of Board the Public certificates has been ap¬ revenue ,; / An — of $250,000 2%% electric Tight plant and system refunding Instruction, required with bid. is Mascoutah, III. Legality Approved Bond ssue . , County, Palm River Sch. Dist. (P. Q, Tampa), Fla. election will be held Certificate . . * . • . . 3% of the bonds bid bonds will bear- interest the at above rate, but are convertible at the option of 1 bonds the purchaser into bearing a lower rate, on such terms that the ceive therefor and city shall re¬ thereon substantially the same amount of money as upon 1%% bonds sold at the price bid, which shall be pay not less for, payable to the Chairman of the Board of Supervisors, is re¬ bonds bond counsel approv¬ ing their legality will be furnished and paid for by the purchaser, together with the expense of cer¬ tifying the bonds. A $15,000 cer¬ tified check,"payable to the city, is required with bid. •« . held on Jan. 17 in order the voters pass on the to have issuance of $50,000 construction bonds.' • Santa Cruz County, Freedom Union Elementary School District A ■V:. (P. O. Santa Cruz)i Calif. J, Sale |f Bond maturing 1944, said to bonds Jan. $7,500. are to - 1, 1970, Holders present of them for payment on and after redemp¬ tion date, at the Commercial Na¬ tional Bank of Little Rock.. — The $100,000 Dec. 15, 1957 to 1966, as 2s.. Inter¬ payable J-D. The next highest bidder was Pajero Valley Sayings est Bank, 2s, at a '• . , ^ ©lection ; have , the voters approved the are said issuance $75,000 hospital bonds. Watsonville, for price of 100.283, a $100,000 net in¬ terest cost of 1.973%. r.s; Siloam Springs, Ark. "V Bonds Voted >- At.' a recent to * of thereof and accrued interest to re¬ demption date, together with a premium of 6% of such principal. be at the ers payable Manufacturers the at Trust Co., Interest ion will be furnished to the pur¬ Trust Co., of price City, is re¬ ized Refunding Bonds Ready for De¬ town's bondholders and creditors National Atlantic Palm Beach, Bank Fla., as Bond to deliver ;; refunding exchange for the out¬ standing indebtedness. The ex¬ changes must be completed prior prepared in bonds Oct. 31, 1947, or the indebted¬ ness becomes cancelled. Any re¬ to quests for information concerning Diis exchange should be addressed to Willard Utley, Harvey Build¬ ing, West Palm Beach, or to Gib¬ son & Gibson,209 South Olive Ave., West Palm Beach, Fla. : New Smyrna Beach, Fla. — The $125,000 electric revenue certificates of¬ ; Certificate Sale Torrance, Calif. Bond. Sale —The $174,000 Mu¬ nicipal Water District No. 2 bonds offered for sale p. 3339 — were Jan. 7—v. 164, awarded to John on r 1950; $72,000 in 1951; $95,000, were author¬ tion to the An voters at to be held Cook — County on Jan. price of 101.779, 1.335%. Dated a ? basis of about , Oct. 1, 1946. Due Jan. 1, as follows: $5,000 in 1948,' $10,000 in 1949 to 1952, and $37r.T 000 in 1953 to 1967. Legality ap¬ proved by Ross, McCord, Ice & Miller, of Indianapolis. The next highest bidder was Shields & Co., Coffin & Burr, and City Securities Corp., Indianapolis, jointly, for 1V2S, at a price of 101.392. Albany, Ind. Bond Sale The $37,500 fire equipment bonds offered for sale on Jan. 7—v. 164, p. 3461—were , . — awarded : AT A to Raffensperger,: Hughes & Co., of Indianapolis, as 1V4S, at a price of 100.035, a basis of about 1.2447%. Dated; Dec. 2, 1946. Denomination $1,000, one for $500. These bonds are due July 1, in 1948 to 1962. The next highest bidder was Kenneth S. Johnson, . . issue of sub¬ the elec¬ 21. J Township High T Sch. Dist. No. 204 (P. O. sale recently, were awarded to the Boston Corp., as l^s, at a First New construction bonds was Election ;works district bojidsuqffered .for-v ' Buckley, III. Bond k-rft ■[./■ Sale—The $600,000 water for V/2S, at a price of 101.583. ; 1 of issue An — mitted and 1, Dec. Evansville, Ind. exchange tion, for the purchase of $2,250,$1,000. Dated Jan. 1, 1947. Due on 1, as follows: $68,000 in 1949 a Jan. INDIANA West at $8,000 water bonds will be Jan. 2s, at due Nov. 5, 1946. on agent fo»4he^bove town, is now Jan. Denomination are Mayor Paul H. Dunbar, that the 13, by A.v S. • Edwards, County Superintendent of Public Instruc¬ bonds. Dated bonds general election held being advised by are . school the at Northern as livery—The , on the to Chicago, 1,.1948 to 1965," and Lantana, Fla. $138,000 a.m. Is* date called. 102.799. of 1947. " These Special Tax Sch. approved at the election held on O. Pensacola), Fla. Dec. 28. > * Bond Offering—Sealed bids will be received until 11 awarded were charge. A cer¬ tified check for 2% of the amount the on Mor¬ rison), III. Bond Sale—The $400,000 bridge bonds offered for sale recently, chaser without any bid, payable to quired, ceases Whiteside County (P. O. New York City. Legality approved by Chapman & Cutler, of Chicago, whose approving opin¬ Dist. No. 16 (P. 000 Bond Call amounting deliv¬ will ered to the No. 68, III. A has purchaser or purchas¬ Peoples Savings Bank, Lakeland. Principal and interest certificates These Bonds' Voted Escambia County Trust on Jan. 21, for the purchase of $1,750,000 light and water revenue certificates. Dated Jan. 1, 1947. Denomination $1,000. These bonds 1645, 1702, 1916, 1979, 2076, 2200, 2223' and 2328 are due Jan. 1, as follows: $125,000 amounting to in 1951 and 1952, $130,000 in 1953 $29,000. The holders of said bonds and 1954, $50,000 in 1955, $150,000 are notified to present same, to¬ in 1956, $160,000 in 1957 and 1958, gether with all interest coupons $220,000 in 1959, $240,000 in I960, maturing on and after Feb. 1, and $260,000 in 1961. Bidders to 1947, at the above Depositary, and name the rate of interest in mul¬ they will be redeemed by pay-" principal amount tiples of one-tenth or Vs of 1%. ment of the Sale —The FLORIDA & Bank Depositary, as funding bridge revenue bonds, maturing Feb. 1, 1970, Nos. 132, 239, 263, 355, 487, 532, 556, 618, 734, 850, 901, 965, 1079, 1136, 1195, 1241, 1313, 1368, 1460, 1501, 1598, a.m; . Special Sch. Dist. No. 7, Ark. school bonds offered for sale on The above.District Jan. 7, were awarded to Blyth & is calling for. payment on- Jan.. 1, Co., of San Francisco, at a price at par and accrued interest to that of 100.10, a net interest cost of date,A/; the following refunding 1.907%, as follows: for $25,000 bonds: Nos; 16RB through 18RB, maturing $5,000 Dec. 15, 1947 to 3%%, dated Dec. 1, 1940, matur¬ 1951, as 11/2 s, $25,000 maturing ing. Jan.' -1, 1970; Nos. ' 127RB $5,000 Dec. 15,-1952 to 1956, as through 134RB, 2Y4%, dated Oct. l3/4s, and $50,000 maturing $5,000 • 10 National selected by lot and calls for pay¬ ment at said bank on Feb. 1, re¬ Press- bids until Island, III. The Continental — Co., Chicago, . , Paris sealed Call Illinois Darien, Conn. fered for sale on Jan. 2—v. 164, $200,000 tax p. 3340—were awarded jointly to The Security-First? Natl Bank anticipation notes offered for sale the Crummer Co., Inc., of Orlando, of Los Angeles, was associated on Jan. 8—v.; 165, p. 116—were and Barcus, Kindred & Co., of with the above named in the pur¬ awarded to the Home Bank & Chicago,, as 3Y4S. Dated Jan. 1, chase of the bonds as 2s, at a price Trust .Col, of Darien, at a discount 1947.; Due on Jan. 1, in 1950 to of 101.01, a basis of about 1.88%. of 0.50%. Dated Jan. ? 10, 1947. 1968, Interest payable J-J. ATAAT AT: V A A A; These notes are due May 15, 1947. Sacramento County, Fair Oaks The next highest bidder was the ILLINOIS •Grammar Sch. Dist. (P, O. National City Bank, New York, .Sacramento), Calif. < Amboy Central Grade Sch. Dist. at a rate of 0.65%. » recognized Rock City Clerk-Comptroller, will receive 1946. Bond •- Note quired. than par on the basis of bearing 2^% interest. The purchaser will have the privilege Bond Election—It is stated by of naming the paying agent and the bank to certify the bonds. The the t County Superintendent of Schools that an election will be printed bonds and the opinion of . bid, Offering—L. to legality by Charles Trauernicht, of St. Louis. Dated Dec. 15, Lakeland, Fla. grove, as Feb. on 4, to have the voters pass on the issuance of $200,000 construction bonds. . : & Bond Election—It is stated that an — „ proved Hillsborough > i Pine Township School Township (P. O. R.R. No; 2, Michigan City) A;T%TA-'AT Indiana Bond Offering — Alfred Schlundt, Trustee, ; will receive for the purchase of $101,000 build-? ing bonds, to bear not exceeding41/2% interest. Dated Jan. 1, 1947. Denomination $1,000. These boncte;1 are due $3,000 on July 1, 1948, $4,-, Jan. and $3,000 July 1, 1949 1952; $100,000, 1953 to 1957;? $105,to 1958, and $4,000 Jan. and July 000, 1958; r $122,000, 1959; $125,ing coupon bonds offered for sale 1, 1959, to Jan. 1, 1962. Rate of in¬ 000, 1960 and 1961; $130,000, 1962 terest to be in multiples of Vi ail on Jan. 8—v. 164, p. 3461—were and 1963; $135,000, 1964 and 1965; 1%. The approving opinion of awarded to the Harris Trust & $140,000, 1966, and $150,000 in Savings Bank of Chicago, as l%s, Ross, McCord, Ice & Miller, of 1967 and 1968. Bidders are invited Indianapolis, will be furnished to;; at a price of 100.889, a net interest to name the rate of interest in the successful bidder at the ex¬ cost of 1.446%. Dated Jan. 1, 1947. multiples of % of 1%, which must Denom. $1,000. These bonds are pense of the Township. A certified be the same for all of the bonds. check for $1,000, payable to the? due $15,000 Dec. 1, 1948 to 1966. These bonds will be sold at not The next highest bidder was the School Township, must accompany^ less than 101.50, and accrued in¬ First Boston Corp., for $90,000 the bid. terest. Principal and interest pay¬ IV4S at a price of 100.16. able at the Ceneral Hanover Bank IOWA -A.: & Trust Co., New York City. Of¬ Hampshire Sch. Dist. No. 26, III• Sully, Iowa Bonds Voted — An issue of fered subject to the approving opinion of - Caldwell, Marshall, $350,000 - construction bonds was -Bond Sale—The $6,000 city hall1; Trimble & Mitchell, of New York approved at the election -held" on bonds offered for sale on Jan. 6,' LaGrange), III. Bond Sale—The $285,000 build¬ A Aa sealed bids until 8 p.m. on Jan. 20, 000 . ; City, which will be furnished to Dec. 21. ' : .-rV:-." were purchased by the ^' Kellogg THE COMMERCIAL & 260 received. 1 •:r- municipal securities, are making free distribution of the 39th edition of the booklet giving lowa i /-// • Salomon Webster Moseley & Co., the Lee Higginson / Corp., Paine, Webber, Jackson & Curtis, all of New York, Schoellkopf, Hutton & Pomeroy, of Buffalo, the First of Michigan Corp.; of New York, Braun; Bosworth Co./ Inc., J.. M. Dain & Co., of Minne.-; apolis, the Milwaukee Co., of Mil^ waukee, Laurence M.> Marks & Co., Charles Clark & Co., .Wm. E. Pollock & Co., Roosevelt & Cross, all. of New York, and Harold /E. Wood & Co., of St. Paul, as IV2S,. at a price of 100.4406, a basis of ■'Bond Offering—Rex M. Welder, up-to-date financial statistics of Auditor,;will receive the Commonwealth of Massachu¬ Jan. 20, setts, its counties/"cities, towns .for the purchase of $300,000 con¬ and districts. This latest edition struction court house bonds. contains an outline;/map of the 'Dated Feb. 1, 1947. Denom. $1,000. Commonwealth, showing all its These bonds are due Nov. 1, as political subdivisions/; *'V V" follows: $9,000 in 1948, $14,000 in Other statistics given show pop¬ 1949 to 1952, $15,000 in 1953 to 1955, $16,000 in 1956 to 1958, $17,- ulation, assessed valuation, gross 000 in 1959 to 1962, $18,000 in 1963 and net debt, net debt-ratio and and 1964 and $19,000 in 1965 and^ per capita tax levy, tax collec¬ tions, tax titles, and a comparison 1966. :; Principal and interest pay¬ County sealed bids until 2 p.m. on - 1%. ' about 1.425 %: • /- - opinion approving The of / $140,000 bonds./The ; Sale. building The —•/ offered bonds Dec. 30—v. on City'Council $.<; Fergus County Sch. Dist. No, (P. O. Lewiston), Mont. Bond Each bid must be for furnished; ^ 1' 1 Dorsey/ Colman/ Barker, Scott & Barber, of Minneapolis, will be Securities Corp., F. S. in ers County (P. O. Creston), Union MONTANA designate. Rate of interest to be in multiples of J/4* or one-tenth of syndicate composed of Fenn. & ; Co., * Bros. & Hutzler, Stone & Municipal Financial Statistics 1 Revised—Tyler & Co., Inc., deal¬ '* / * - ( a Phelps, No other bid vat a price of par. was auction to /■// ■'Massachusetts (State of) 2M>sr 'Savings Bank, of Kellogg, as 13, 19f7 Monday, January ; FINANCIAL CHRONICLE ^ $300,000, lor sale 164, p. 2741—were separate¬ awarded to Piper, Jaffray & Hop-? These bonds were voted at the wood, of Minneapolis; as 2 % sg at general election held on Nov/ 5/ a price bf T00.193/ Dated Jan. X, 1946, A certified check,for, $2,800^ 1947. These bonds were authorize^ payable i to the. City Treasurer/ at the; election held on. Nov. 5. must accompany, the bid,/ ' -> The next highest bidder was State will not award the issue ly. Land Board, fo^ SVas; at a V-/ //:? • v NEBRASKA Jackson, Partial Award—Option on Bal¬ ance—J. j R. price o| part////; ? MISSISSIPPI .V: ' City Clerk, Skinner, has announced that of the $2,500,- Geneva,^ Neb. $,// //''/ recent elec¬ said to have Bonds Voted—At a / the tion voters able in Creston. Legality to be of tax rates/ Copies may be se¬ 000 public improvement bonds of¬ $630,000 storm drain bonds. Due heavily approved the proposal to approved by Chapman & Cutler,? cured from Tyler & Co., Inc., upon from Feb. 1, 1948 to 1957, in- fered on Jan. 7—v. 164, p. 3462— issue $10,000 - park improvement / of Chicago. These bonds were au- request. //'■;, elusive/yyyyyi i a block of $500,000 was awarded bonds. : // /T -: TV?;- it; thorized at the general election to a syndicate composed of the Westborough, Mass. 820,000 fevblving fund bonds. held on Nov. 5, 1946. A certified Bond Sale—The $232,000 water Capital National Bank, Deposit Neligh, Neb. : : Due from Feb. 1,1948 to 1957, Check for $6,000 is required. bonds offered for sale on Jan. 6— Guaranty Bank ' & ' Trust;/ .Co., / are : . inclusive. 165, v. KANSAS : »,i ' r .u .. Price Paid—The City Clerk now <•:> y- .*.•«. v- -■ : ■ ' . Salina, Kan. * , • 1 ;• //- - 400,000 Hornblower & Weeks, both of Boston, jointly, as l^4s, at a price of 100.1545, a ba¬ ■ about 1.23 % im¬ sis of states that the $59,973.78 \ park bonds. Due from State National Bank, and the 000 aviation field bonds was fa¬ Feb/1,1048 to 1957, inclusive. Commercial Bank & Trust Co., all vorably voted at the election held \ ' 300,000 refuse destructor bonds. of Jackson, at a price of 100.025, on Dec. 24, 1946/ Due from Feb. 1,1948 to 1057, a net interest Cost of 1.89%,* as Omaha Public Power District/ follows: $50,000 maturing $10,000 inclusive. (P. O: Omaha), Neb. 400,000 public relief bonds. Due Feb. 1, 1948 to 1952, as 3s; $100,Bond Offering—Karl C. Brown, from Feb. 1, 1948 to 1957, in¬ 000 maturing $20,000 Feb. it, 1953 to 1957, as l%s, $280,000 maturing Secretary of the Board of Direc¬ clusive. tors, will receive sealed bids until 650,000 water works bonds. Due $70,000 Feb. 1, 1958 to 1961, as 2s, 11 a.m. bn Jan. 21, fot the pur¬ from Feb. 1, 1948 to 1967, in¬ and $70,000 maturing Feb. 1,1962, of the following / bonds as Interest payable? /FrA. chase clusive. The same; syndicate, has been amounting to $42,000,000, not ex¬ Additional Sale The = above granted a" 10-day option to pur¬ ceeding 4%f interest: syndicate was also awarded the chase the > balance of. $2,000,000 $22,000,000 electric revenue ? of $3,310,000 coupon refunding bonds 1947 bonds. Due Feb. 1, as folbonds/ at the same rates and price, offered on the same date-r-Vi/164, i The next highest bidder was a l6ws:r $950,000 in 1950, $1,000,p/ 3341—as 1.40s,; at/a pride? of 000 in 1951, $1,050,000 in 1952 Syndicate? headed by the First Na¬ 100.3806, a basis of about 1:32 %. and 1953, $1,100,000 in 1954 tional Bank, Memphis,'- at a price Dated Feb. 1, 1947. Due $331,000 and 1955, $1,150,000 in 1956, of. 100.001, a net interest cost of from Feb.11,-1948; to 1057^ inelur ? $1,200,000 in 1957 and 1958, 1.98%. sive. Second best offers for the / ' $1,250,000 in 1959 and 1960, two issues were > those submitted Jackson County, Pascagoula Rural $1,350,000 in 1963,: $1,300,000 by a group headed by the North¬ in 1961 and 1962/ $1,400,000 in Separate Sch. Dist. (P. 0. ern Trust Co;, of Chicago; and the 1964 and 1965, $1,450,000 in Pascagoula), Miss. Chase National ' Bank, of New Bond Sale—The $125,000 school 1966, and $1,500,000 in 1967. York, with a bid of 100.437 for the bonds offered for sale on Jan, 6*— 20,000,000 electric revenue of $3,200,000 as l^s, and* 100.38 for v. 164, pi 3341—were awarded to 1947 bonds. Dye Feb, 1, 1977; the $3,310,000 as 1.40s. r White; Hattier & Sanford/ of New Dated Feb/i, 1947/Denom/$1,«/ /Bonds Offered for Investment— Orleans, at a net interest cost of 000. * Bidders for said bonds may. Dated Feb. 1/1947. / De¬ specify any rate or rates in mul¬ The purchasers immediately re* 2.38%. These bonds tiples of % of 1%/ Both principal, offered the above bonds for gen¬ nomination $1,000. 117—were awarded to p. Coffin & Burr, and , Dated Jan. 1, . * 1947/ Denom. $1,000. These bonds are due Jan. 1, in 1948 to 1962. provement bonds sold to Beecroft, Cole & Co., of Topeka; as noted ' jhtere—v, 164,* p. 3461—^were pur¬ The next ,highest bidder was F. S, chased by the said firm at a price Moseley. & Coand Robert Haw¬ of 100.53, a basis of about 1.12%.; kins & Co./ jointly, at a price of Dated Sept. 1/1946. Due oh Sept. 100.139/ MICHIGAN in: 1947 to 1956, inclusive'. In¬ ' . payable M-S. terest ' Norway, Mich. Offering Scheduled ~ It that Jan. 28, Cueydan,' La. ' * / : as a tentative Bond Offering—-It is reported date for the sale of $250,000 elec¬ that sealed bids will be received tric power planttpurchase^ b^ Until Feb. 4, by the City Clerk, for Royal Oak Township, Oakland the purchase of the $20,000 not to County, Mich. Cekceed 4% ' semi-annual water Interest / Payment / Scheduled-^ works and electric plant revenue ^ LOUISIANA 1 Bond lilt® has been reported has been specified 1 - bdnds, approved recently by , The holders of bonds and interest the refunding certificates of indebted¬ ness of the above township are Voters. m Bbiids/Voted-r-An issue? of i$X0,-*; ■j * Rapides Parish Sch. Dist. No.. 1 : (P. O. Alexandria) j La(. : 1 being advised that all injunctions having been dissolved, the towpi'Bond Sale-—The $275,000 >cou¬ ship wili pay interest due Oct. 1, pon school bonds offered for sale 1946, on $6,720 Series A bonds; ©n Jan/ 3—v. 164,/ pi 3196—were $32,100 Series B bonds; $17,245 , f Bank & Series C bonds, and $5,999.40 in¬ of Alexandria, at a price terest refunding certificates of in¬ eral subscription; the refunding | of 100.036, a net interest cost of debtedness, payable at the Na¬ bonds, at, .prices' ^ lo .yield .from about 1.74%, on the bonds divided tional Bank of petroit/ Saralr F. 0.75% to t35%, while the various Bradford is clerk of the town¬ purpose bonds were offered at as follows: $130,000 as Is, due on Feb. 15; $15,000 in 1948 to' 1953, ship. prices to yield from 0.70% to and $20,000 in 1954 and 1955, the Sealed Tenders Invited—Sealed 1.60%, all according to maturity. remaining $145,000 as 2s, due on tenders will be received until 8:30 St. Louis Park, Minn. Feb 15; $20,000 in 1956 to 1959, p.m. on Jan. 16, by Sarah E. Brad¬ Warrant Sale — The following $22,000 in 1960 and 1961, and $21,- ford, Township Clerk, of Refund¬ sewer ; warrants totaling $20,400, 000 in 1962. Dated Feb. 15, 1947. ing bonds, Series A, B and C, /Interest payable F-A. Second best dated; Oct. .1,/ 1936, due Oct. 1, offered for sale on Jarr. 6-^-v. 164, p. 3341-^were 'awarded: to 'Kalman bid was an offer* of 100.10 for 1966, and Interest Ref. Ctfs./ dat¬ $275,000 as 2s, -submitted by ed Oct. 1, 1937, and, maturing Oct. & Co., and Jurah & Moody^,1 both of Stv Paul/ jeihtlyr*■* Seharff & Jones, Weil & Co., and 1, 1947. The amount ori hand the Rapides Bank & Trust Co., of available 4o?^the • retirement- of $3;5Q0 storna sewer district No. 13 Alexandria, jointly/ ; - - - / / -; Series A'and B v bonds is $79,100. warrants," as l.80S, 'at a price of 1O0.2O2, 8 basis of about The ariiount oh hand available for awarded to the Guaranty • are, due/Feb. X, in 1948 to 1967. The next highest bidder was the Trust Co., - . : //.'-, ./ ■ '. ; ..T.I ^ i—- IV-. '■•>' ■ the retirement of Series C bonds Rcmgor,Me. •> '/>// y// // is $48,225, and the amount on hand / 'Note Sale—The $7001)00 tax an-; for the retirement of Interest Re- •a?v ticipation-T notes offered'for sale Jan. >7, were- awarded to the Eastern /Trtist; &, Banking -Co:, Merrill.Trust Co., and the Mer^ , ©n fhndin^ Certificates Is $8,16082// ' .■'/Tv':-.:'/ •" ;'v' .r"'' St. Clatr,:Mich: • Bond; Sale—The $99,000 bonds offered Jan. 6-r-v/ 165;- >h^ll7'% chants National Bank, all; of Ban¬ were awarded to Braun, Bos worth gor, jointly J at a rate-of 0.64%. & Co., Inc./ of Toledo, at % price These- bonds- are due on Oct. 6, 100.012, a net interest cost of about v.. 1.223 %, as follows// *, \ // ] ■/ '' ; ■ ' ■ $32,000 water bonds: $9,000 Is; due MASSACHUSETTS on t (P. O. Salem), Mass. Essex County • - ///••Note Sale—The $450,000 tuber¬ 1949 are payable Jan. 10, 1948, at the * National Bank, in Salem, Mass., or at holder's option, the National Shawmut Bank at /,'J?" of Boston. • incl.; * $49,0(50 l^s. due ' on discount of 0.58%. Dated Jan. Merchants t , sewer bonds: $18,000 Is, due on Dec. 1 from 1947 to notes 10, These notes from 1947 to 1949 67,000 Were 1947. Denom. $5,000. 1 1 from 1950 to 1956 incl; culosis hospital maintenance loan offered for sale on Jan. 7, awarded to the Cape Ann National Bank, of Gloucester, at a Dec. incl.; $23,000 l^s, due on Dec. ^ Dec. 1 1950. to 1956 from incl. All bf thq bonds are dated Dec. 1//1946; " Second • high' bid was 100.666 for $99,000 1Y2S was made by Halsey; Stuart & Co. '■"■J.'y * .* - /v.v/i/ •• i\': /./t ;<«'• ■ '<;■>r/;/ •'/./v.//*)/*, / ilotes also offered for sale on Jan. Vermontville, Mich. Bond Option Exercised — Mc¬ Donald-Moore & Co., and H. V. Sattley & Co., \ both, of Detroit, 7, were awarded to the Beverly National Bank, of Beverly, at a idiscount of 0.52%. Dated Jan. 10, jointly, have exercised their op¬ tion to purchase at 95.50, the issue of $130,000 water revenue bonds "/'The pital „ 1947. tuberculosis hos¬ maintenance renewal loan $400,000 $5,000 each. These due April 1, 1947. The DenOm. for which no bids were received Marine Bank, Pas¬ a .syndicate: Stuart & Co., Inc., of New York, as 2%s, * at; a headed by Halsey, price oLl00;l80,^basis; of^^ about 2.3658%. Dated Feb. 1,/i 1047. Denom. $1,000. These bonds ma¬ ture $375,000 Aug, 1, 1964, Feb. and Aug. 1, 1965 to 1967, $375,000 .763%/- /Due^50O?/:=Jah?#T5, Feb? ahd $400,000 Aug. : 1;<1068, —; 1950 to 1956:" and $400,000 Feb. and- Aug. 1; 1969 ■-11,900 storm sewer district ;Nd and-l?7p.; ■ •//??,//•" /;; ',*■ 14 / warrants^ as / L90s^ ?atr/a / Other members of the success¬ .price r of 100.194, a" /basis; of ful/ syndicatewere t a&/ifolk>ws: about 1.843%.:Due Jan. 15, in Blair & Co., Inc., Goldman, Sachs * v & >awarded/ to were - " and interest on the bonds will be* payable in New York, Chicago or Omaha, at the option of the hold*cagoula, and Associates, at a net er, and the bonds will be registerinterest cost of -2.66 %. able as to principal only on books; to be kept by the District at the? Mississippi (State of) pffices/of /the: paying Agents? Its Bond Sale—The $5,000,000 high-; said cities. The approving opinion way revenue, 12th series, bonds of Wood, King & Dawson, of New* offered Jan. 9—v. 165/: p. 118— York will be furnished. Enclose a Merchants check certified face of the for the of 2% bQndS;/payable: tpftbe District Treasurer.* v ; : '' p~ % ' * , . » * 1949 to-1960. 5,000 & sanitary.sewer/district No". Co.;v Hemphill; Noyes Franklin, If: H. ' Note Bale The $150,000 loan notes offered for sale V 6ri an/ 8r^. were" awarded to/ thB First National Bank; of. Boston; v" porary at a discount of 0.70% ; Dated Jan/ 9, 51947// Denomination $25,000; . These notes are due Dec;:,I5, 1947/ ' & Co.,; Thb:i^xt1highe9t%''M<Mer:?was' thd Hornblower & Weeks, Second National Batik/ Bostcrn; at ?/ all of New. York, Ri S. Dickson & a rate of 0,729%. -/ ,/•/ A///; // ^ r ".'v. " 4*; , ^ v/price/ bf,^?10O.208;i? a .basis of Co., of Charlotte, First of Mich¬ Grafton about 1.865%. Due $500, from County1 (P, .Q; Plymouth) /i/ igan Corp., of- New York, Scharff \ "» New Hampshire >, Jan. 15, ,1049 to 1958/ & Jones, of New/ Orleans, ^ Hay* Note Sale —The $100,00€/ ta* Dated Jan. 15, 1947? ; The next den, Miller & Co./: of Cleveland, notes offered for sale on Jan. 3, highest * bidder was the -Allison^ Julien Collins & Co., of Chicago, were awarded/to Kenneth B,.Hill Williams Co./for $20,400 2y4s, at A. Webster Dougherty & Co., of & r Co., of Boston, at a / rate? of a price of 100.02. ' ' Philadelphia, ; White-Phillips Co., 0.79%. : Dated Jan. 3, 1947. These of Davenport, Kebbon, McCormick Shako pee School District; Minn.? ponds are dues Dec,/X8,/1947^ The & Co., of Chicago,/ Leftwich & next highest bidder was the First / Bond Election*—. issue of Ross, \ of Memphis; Cruttenden & $294,000 building bonds will be Co.,-of Chicago, Weil Si Arnold, National Bank, Boston, at a rate of 0.85%, ./ ; :•submitted to the Voters at the of New Orleans, and Neuhaus & election to bp held on. Feb. 3. .NEW JERSEY . Co. of Houston;- Second high bid of 101.01 for $2,850,000 2V2s and \ •?'. NeptUne City, N, ?J ■Si/ / Tracy, Mtnn. Bond Issuance Approved—The Bond Offering—H. M. Algyer, $2,175,000 2%s, a net interest cost of about 2.38%, was made by a State Funding Commission ap-t City Clerk/ will receive sealed bids until 2 p.m. on Jan.. 15, for syndicate headed by Blyth & Co.; proved recently the issuance of Inc; -/f■/ the $38,000 refunding bonds. t\\r purchase/of the following ,;./rv '.y:'}Y•'/ MISSOURI 'V*■:> •*?• -?•'■/-' /- /*•? ■ bonds totaling $140,000,; to bear •///?'/^ v'Z Passaic, N,\ /•' '/v /'■■/ /• not exceeding 21/^% interest: - ;: Sweet' Springs>/ Mo. /*'„ J; / Bond /Issuance Pending — The $50,000/. swimming / pool bonds. /Bond* Sale—The $112,500,. gen¬ Board of City Commissioners is /;■;:/ Due $5,000 Jan. 1,/ 1949 • to eral obligation bonds offered for said to have approved a program IK' warrants, Otis & Co., 1.90s, r at*- 8 as . . ' - . . , s , v 1958. S : . . , , , . ; / . ^ 90,000 sewer bonds./ Due Jan. 1, : sale were on Jan. 4—v. 164, p. 3341-r-. of public improvements for 1947 which will cost $1,110,000, involv- / awarded to the City Nation¬ $5,000 in 1949 to al Bank & Trust Co., of Kansas ing the * issuance ,of bonds to fi* in 1959 to City, as 2X/8S, at a price of 100.636, nance the cost;//-///?/ •//;/ 1962. Optional at par aild ac- a basis of about 2.061%^ Dated MINNESOTA Teanech Township Sch. Dist. (P. O, erly National Bank, Beverly, for Jan. 15, 1947/ Denomination $500. : Minneapolis, Minn. -t j//i; qrued interest on Jan.: 1, 1957? Teaneck), N. J:i ???/•"-'•?> $450,000 notes, at a discount of Denomina* These bonds are due Jan.' 15/ in Bond Sal e — The following / Dated Jan. 1, 1947. i Bond; Offbringj--John*H. Ranges} W 1950 to. 1967. / The? next/highest; 0.59%,• and Cape Ahn National bonds aggregating $3,200,000, of* tion $1,000., i Principal and inter¬ District Clerk;/will receive sealedl / Bank, Gloucester, for $400,000, at fered for sale on, Jan. 3—v*, 164; est (J-J) payable at any suitable bidder was Stern Bros. & Co.; for bids until 8 p.mi.-?bn;l Ja^ij 22/(ibd 2V^s/at a price of 100.80. /?C/;/':; ;a discount of 0.55%>/./;,^./V'?/ ?.//' p. 3341—were awarded/ at public bank or institution the bidder/may notes are liext highest bidder was the Bev¬ on Dec, 9.' ) Kh v : - v 'V ■. S C? as follows:.. , 1958, and $10,000 J:/:■/ ' " », «. ' . fji'.y i >/>•-'< i-i; - I."* y 4-: if iVpluriii^ 1,65;; KTuniber 4559 THE COMMERCIAL & FINANCIAL CHRONICLE r 261 ■I i the purchase of $205,000 school' or registered; bonds, to■ bear not exceeding 4% interest.' Dated Feb. 1, 1947. Denomination ; $1,000. These bonds are due Feb.; 1, as follows: $20,000 in 1949 to \1952, and $25,000 in 1953 to 1957. Rate of interest to be in. a multiple of % or one-tenth of 1%. Princi¬ il empstead Union Free School DistA coupon; No. 16 Bond Offering—Louise Hinkel, way he coupon bear Hvdi of for Education. Board of certified A $4,100, payable to the Education, must accom¬ pany the bid. ^ Bond cessful bidder Offering Wilbur L. R. — nfCe - ^Gardner, Borough Clerk, will sealed City. bids until 8 p.m. re¬ on w * a f i p1 H Ill^^^o^ination are due July 15> 1947 payable at the First Bank & 30.^ The approving of opinion yed b Hawkins, Delafield & urnished the to without Check successful cost. for 2% A the of bid-1 bidder will be furnished the approving opinion of Hawkins, Delafield & Wood, of Hew York, that the bonds are valid and legally binding obliga¬ tions of the Borough. Enclose a certified check for $1*760, payable to; the Borough, ; . f NEW YORK ; . j Arcade (O. Arcade), N. Y, Bond Offering — L. W. Ham. Town Supervisor; ;; will receive sealed bids until 2 p. m. (EST), on Jan. 16, for the purchase of $9,airport coupon or registered /bonds, to bear not exceeding 5% 500 interest. * Dated Dec. nomination $1,000, These bonds are 1, 1946. " De¬ $500 be in multiples of or one-tenth of 1%.* Principal and interest <J-D) payable at ? the Citizens Bank, of Arcade. The approving opinion of Vandewater, Sykes & Columbus County (P. O. bid ^Without bid." ; v due May 9, 1947 " .... w ,f V. •« bids until 2 p.m. on Jan. 21* for purchase of $209,000 munic¬ ipal biulding, park and water cou¬ pon or registered bonds, not ex ceeding 4% interest. Dated Jan 1, 1947. / Denom. * $1,000. These the Hawkins, due Jan. Delafield & Wood, o City will be furnished to the purchaser without cost. A certified check for 2% of ; the bonds bid for, payable to the District, is Required. 1, $35,000 June 1 in 1961 and Sale—The , , , T o bonds^offered Jan. 8 AV about 1.241%; innne Other eluded the for w in-1 1.40s following: R. D. White & Co., 100.208; Francis I. du Pont & Co., 100.128; Bank of Hunting- y4 or l/10th of 1%. Principal and inter payable at the West Hemp stead National Bank, West Hemp est stead, or at the Bank of New York, New York City. The bonds tion of the successful bidder at the office of Hawkins, Delafield,, & Wood, of New York City, on or about Feb. 3, 1947. The bonds wil legally binding obli gations of the Village. opinion of The ap Hawkins Delafield & Wood, of New Yor' City, will be furnished'. certified check for -Enclose 2% - of the amount, of the bonds bid for, pay able to the Village. /'Y'A: Randolph County boro), (P. O. Ashe- C. Bond Sale—The $50,000 road and bridge refunding bonds offered Jan. 7—v.'165, p. 118—were & Arnold, l j of Raleigh, as l%s, at # a price of par. Dated Jan. 1, 1947. Denom. Otto, Dayton, Persia, Leon and J $1,000. These bonds are due $25,Napoli, Cattaraugus Central f 000 Jan. 1, 1954 and 1955. Second Sch. Dist. No. 1 (P. O. ; high bid of 100.102 for $25,000 2s Cattaraugus), N. Y, ' | and $25,000 l%s; was. made: by Bond Sale—The $35,000 school Equitable Securities Corp. bonds offered 165, v. p. 1.10s, at as for sale on Jan. 6| a 1947 to 1951 The ., D pi1 u w _ p ^ond °ffenng — W i;. Easter^ Secretary of the Local Govr $1,000,1 15 , „ Co., of New York, price of 100.032, a Dated Sept. 1946. ■; Denomination These bonds are due $7,000 from Sent D 118—were awarded to 15, ernment Commission, will receive bl.^ untl1 ^ a'mJ?' ?iL, purchase. _of $40,000 er^ C0UP°n bonds, to cem next bear highest ers & Co 100.179. will be delivered at the office of the successful bidder or at the op a nailt . j awarded to Kirchofer r basis of about 1 085%. of dated Dec. are New Albion, East Otto, Mansfield, $4,000 in 1972. multiples | f net cost of about 2.847%, was made by Fox, Reusch & Co. of 1; 1947. ri . ie* Dated Jan. bids June 1 j 1946 Second high bid o£ 100.009 Denom. $1,000, one for $700. These bonds are due July 1, in 1948 to 1958. on for ^20'000 3s and $25,000 2%s, tff Kocic o All of the bonds i & ^ 21/2S, due $5,000 10,000 general bonds as;2%s. Due June 1, 196lTtOv,I967^c water $32,700 1962; $25,- from J963. to T967,incl. . , to Rate of inter¬ road and bridge bonds: $10,000 2%s, due $5,000 on 3 ton), N, Y-A0M Bond follows: as 118—were awarded to Breed & of Cincinnati, as fol- | Hunting est proving issued are to the under provide for • Harrison lows: 000 District (P. O. and be valid and certificates Philadelphia Plan . . Huntington, Greentawn Water R. D. White & in White Bond Sale—The p. ; $12,000 in 1948 to 1952, $10,000 in 1953 to 1962, $5,000 in 1963 to 1971 be 43,000 fire alarm and equipment bonds. Due Jan. 1, as follows: ; $2,000 in 1950 to 1959, $3,000 •' in 1960, and $4,000 in 1961 to ;he revenues of the City Transit System and from moneys in the replacement fund of the System o the extent available. These ..... ton & Trust Co., 100.Q91. Bond Offering—Lael Von Elm, Tillage Clerk, will receive sealec are r,v New York improvement Hempstead, N. Y. bonds in * , , '" and I967.;ii-m;fitt:iirt;^i th? the Town anticipation notes offered for sale recently, were awarded to the County Trust Co., of White Plains, at a rajtp.pf 0.61%, plus a premium of $3J)0. n Dated Jan. 10,g 1947 are 1951, in • Harrison (P. O. Harrison), N. Y Note Sale — The $300,000 tax These'*^otes to guarantees payment of the certifi¬ cates and dividends thereon out of Due $1,000 $2,000 The City, through its Transit Board, ; " the payable to anust aeppmpany bonds. ; - purchaser A 'certified check cost. for $19Q, sewer L i 1,'as follows: 1952 to and Dec. 15, in 1947 to 1951. 1957, and $20,- more than 50% of the cost of new vine), N. C. $22,500 coupon equipment consisting in general of Dated Jan; l j 1947. Denom, $1,- trackless school building bonds offered Jan. trolleys ;and motor )00. Principal and: interest" (J-J) coaches. 7—v. 165, p. 118-—were awarded ;u Payable in New York City, t Gen¬ to R. S. Dickson" & Co., of Chareral Fitchville Local Sch. Dist., Ohio iotte, at a price of 100.066, a net aboutobligations; delivery on or Feb. 4" at place of purchas¬ Bond Sale Details—The interest cost of about 2.138%, as $60,000 er's choice. Bidders are requested follows: Duilding bonds awarded on Dec. to name the interest rate or Jan. 14, for the purchase of $9,rates, 19, as 2s, at a price of $16,500 214s. Due on Dec. 1 from 100.098, a in multiples of Vi of 1%. : The 500 fire apparatus coupon or reg-1 ap¬ basis of about 1.99% — v. 1947 to 1960 inclusive, 164, proving opinion of Masslich & p. 3463—were sold to J. A. istered bonds, to bear not exceedWhite 6,000 2s. Due' on Dec.«1 from Mitchell of New York, .will be & ng 4% interest. Dated Feb. 1,1 Co., of Cincinnati, and the Wil:1961 to 1963 inclusive. furnished. Enclose a certified lard ; United 1947. Denomination $1,000. These All of the bonds are dated Dec; Bank, of Willard, check for $20,060, payable to the bonds are due Feb. 1; as follows: I i, 1946. .The Branch Banking & jointly,; Dated Jan. 1, 1947. These State Treasurer. bonds are due from Sept. 1, 1948 $1,500 in 1948, and $2,000 in 1949 Trust Co., of Wilson, second high to 1952. Rate of interest to be in to March 1, 1972. The next bidder, offered to pay 100.005 for high¬ NORTH DAKOTA est bidder was multiple^ or one-tenth of $12,500 2s and $10,000 2y2s, or a Stranahan, Harris 1%. Principal and interest (F-A) net cost of about 2.327%. Mountrail County SchA Dist* Nos 8 & Co., Inc., for 2JAs, at a price of 100.441.. ' ' '. * payable at the First National ,:\A(P. O. Van Hook), N. D. nr r Bank, of Bellmore. The bonds will % Bond Offering —T. W. Kamps Fresno Local School Bonds Anmoved The Citv District, Ohio be delivered at the office, of the Bond Offering — Dent Council is said to have unmoved District Clerk, will receive sealed Thomas, successful bidder or at the option bids until Jan.; 17, for the pur¬ Clerk of the Board of rercntlv teuance of S126 000 Education, of the successful bidder at the chase of $2,000 3% school bonds will receive sealed bids until Jan. office of Hawkins, Delafield Denom, $500. These bonds are. due 27, for the purchase of $75,000 $700,000 improvement project. Wood, of New York City on or iiLlO. years. 2y2% semi-annual building bonds. about Feb. 1. The bonds will be Montgomery County (P. O. These bonds were voted at the ; OHIO valid and legally binding general Tr°y)> N.'C.%rV; general election held last NovemBond Sale—The $45^)00 refund obligations of the Wantagh Fire Bedford City School District/ Ohio District. The approving opinion o ing bonds offered Jan. 7—v. 165 Bond Sale Details The $95, Indian Hill Heckler, of New York City, wil to i i 1949 of New . . for one due Dec. 1, as fol¬ lows: $1,500 in 1947, and $2,000 in 1948 to 1951. Rate of interest to furnished Vandewater, Sykes & York City, f Jan. NORTH CAROLINA certified amount . with * freckler,' $1,000. f These bonds are for, payable to the Board of Edu- j (<3ue Jan. 15, as follows: $4,000 in cation, is required. 19481; to 1957, $5,000 in 1958 to \. ;1963, and $6,000 in 1964 to 1966. Hempstead, Wantagh Fire District Rate of interest to be in multiples m (P. O. Wantagh), N.Y. ,of V4 of1 % i. Principal and inter¬ Bond Offering—Harold J. Frit-1 est payable at the Washington scher, District Secretary, will reTrust Co., Washington. The suc- ceive sealed bids until 3:30 p.m. on , 35,000 storm IhW'''^1& Trust Co., of Utica.- Legality apabout Jan. der, cessful 000 in 1954 to 000 in 1958 to 1967. $50,000. These notes registered bonds, not exceeding 6% interest. Dated Jan; 15, 1947. p; , Wood, of New York City, will be1 Denom. sealed bids until " Jan. 23, for the purchase of $88,000 general improvement coupon or ernment , I x. Hawkins, ..Delafield par and Principal and in*nerest (J-J) payable ; at the County Treasurer's office. The approving opinion of Peck, Shaf-^ ::er & Williams, of Cincinnati, will ■ | sue- option of to be for less than accrued interest. ■ Rant at the or bid is N. C. Offering —W. E. Easter- , mp! Thicp bonds wii^ h^I These LnHc will be rnv delivered at the office of the Washington, N. J. • ceive ri rw!!' EaS Vnrir York Wilmington, ^ Bond and snow removal bonds offered for sale on Jan. 6—v. 164, p. 3463 , check ; ' Sale—The - ing, Secretary of the Local Gov¬ Commission, will receive 11 a.m. on Jan. •—were awarded to the Citizens 14, for the purchase of the follow¬ National Bank, of Port Henry, as ing coupon bonds totaling $1,003,- be furnished to ;■ the purchaser iy4s, payable J-J. Dated Jan.; 6, 000, to bear not exceeding 6% in-; without charge. A certified check 1947. These bonds are due $2,000 terest: > :r': '(yi'v i ' for $425.43, payable to the County from July 1, 1947 to 1951. The J5325,000 water bonds. Due Jan. 1, Measurer, must accompany the next highest bidder was the Lake as follows: $6,000 in 1950 to Placid Bank, for 1V2S, and Tilney it 1959, $10,000 in I960;1: and A ■/-Cleveland,.Ohio /• & Co., for 1.90s. it $15,000 in 1961 to 1977. Certificate, | Issuance. Ratified-r300,000 'sanitary v, sewer bonds, farris, Hall & Co.,, of Chicago, Utica, N.. Y. completed negotiations on Jan. 4, Note Offering - Thomas J. ii- Hue Jan. 15, as fololws: $5,- for the issuance of $4,000,000 000 in 1950 to 1955, and 1%, $10,Nelson» City Comptroller, will re000 in 1956 to 1982. iy8% and iy4%, equipment trust V ceive sealed bids at the First Bank of 1946, second series certificates. 300,000 street improvement & Trust c° ' of utica> until .noon bonds. Due Jan. 1, as follows: Dated Dec. 15, 1946. These certifi¬ j 14 |or purchase of ^ -ftn 000 t' $10,000 in 1950 to 1953, $15,- cates are due $400,000 on June anticir)ation notes District Clerk, will receive sealed ids until 2 p.m. on .Jan. 16, for ' Board Henry, N} Y. $10,000 highyconstruction, * maintenance Bond purchase of $1,185,000 school or registered bonds, to not exceeding 4%;;. interest. Dated Jan., 1, 1947. Denomination pal and interest (F-A) payable at SI,000. These bonds are due July * the West Englewood National" as follows:. $35,000 in 1948 and Jlank, West Englewood. The suc¬ 1949, $40,000 in 1950 to 1969, and cessful bidder will be furnished $45,000 in 1970 to 1976. Rate of with the opinion of Hawkins, interest to be in mutiples of y4 Delafield & Wood, of New York Snir City, that the.bonds are valid and ?t legally binding obligations of the Park New Hvde Park or at / Port (P. O. Elmont), N. Y. 1 Palatina Bonds Bridge, N. Y. Offered — David in 1960 to 1963. Principal and in- Z. M. Risk, Village Clerk, v received sealed bids until 2 p.m. on Jan. ,10, for the purchase of $19,000 building $2,000 in 1950 to 1959, and $5,000 registered bonds, at not exceeding 5% interest. Dated Feb..II, 1947. Denominations $1,coupon or te.rest (F-A) payable in New York C^y Bond Sale—The $10,000 refund¬ [ng bonds offered Jan. 7—V.-165, 118—were awarded to the ■ Branch Banking & Trust Co., of 000 and $500. These bonds-are due Wilson,, as T34s, at' a price of Feb. 1, as. follows: $1,000 ip 1948 100.521, a basis of about 1.688%. to 1954, and $1,500 in 1955 to 1962. Dated Jan. 1, 1947. Denom. $1,000. Principal and interest (F-A) pay- These bonds are due Jan. 1, 1956. 1L a1 D#vw\1r able at the First National Bank of Canajoharie; The bonds eral obligations.. " V ?. . are . gen¬ . ; awarded on Dec. Ryan,, Sutherland & Co., •' of Toledo—v. 164, p. 3463—were sold as follows: vow* 'SiL . Local Sch. Dist. (P. O. 20 to Madisonville, R.R< No/ iCincinnati), Ohio A B d o n Offering > < > .'.^7 Sealed bids — will be received until i, noon on Jan. $22,000 site • purchase bonds, - Sis: 16, by W. E.: Stevens,. Clerk of 2%s, .at. a price of 100.85, a; the Board of Education, for the basis of about 2.66%. Due Oct. purchase of, $514,600 3% school 1, in 1948; Iter 1967,; u bonds. Denom. $1,000, tone for ^24,000 improvement:hnd furnish-' $600,; Dated Jan. 15, 1947. Due as ing bonds,; as 2%s, at a price folows: $11,600 on April 15, and of 100.862, a basis of about $11,000 on Oct. 15, 1948; $11,000 ■r;:L 2.656%. Due Get. 1, 1948 to on April and Oct. 15, in 1949 to 1967. 1962; $11,000, April; 15, and $12,49,330.18 judgment bonds, as 000, Oct. 15, in 1963 to 1970. Bid¬ 13As; at a price of 100.176, a ders may specify a different rate i basis of about 1.70%. Due Oct. L in 1948 to 1952. of interest in multiples of % of No bid is to be for less,than / Dated Dec. 1, 1946, Interest pay¬ par and accrued interest.' These able A«-Q. bonds were approved' on -Nov. ; ' 4 -'<• . & • 1%. ■ and are ^BfOoklynLocatSch.Disti(PrOA payable from unlimited taxes.;/ The approving pinion "'of Peck, Shaffer & Williams, of Cin¬ Bond Offering —Opal E. XJmcinnati, will be furnished the puirt. phrey^o Clerk-Treasurer of the chaser, at his expense. A certified Board of Education, will receive check for 1% of the bonds bid for, sealed bids until 2 p.m. on* Jan. payable to the Board oi Educa¬ 28, for the purchase of $225,750 tion,- is required* : %y Aipv 7 *, <?iiQ{Cleveland), Ohio - 2% construction bonds. Dated Feb. ■ 1, 1947. Denomination $1,000, one for $750. These bonds are due Dec. > ; */ Bond r , ■ ■ ••»"»i' Jackson/ Ohio . - t / Sale The $350,000 firs£ 1,-'as follows: $10,750 in 1948, mortgage water works revenue $11,000 in 1949 to 1953, and $10,000 bonds offered for sale on; Jan.; $ f in 1954 to 1969., Bidders v. may bid 164, p. 3342—were awardedt for different rate of interest in a to a — syndicate composed of Stran¬ multiple of of 1%. The ap¬ ahan, ; Harris & Co., Inc., of proving opinion of Squire; Sand¬ Toledo, Braun, Bosworth & Co., ers & Dempsey, of Cleveland,; will Inc., and Widmann & Co., of Cine- ■/ be furnished the successful bid¬ cinnati, at a price of 100.0308, a /• der. Enclose a certified check for net interest cost of 2.391%, as fol^ 1 % of the issue payable to the lows: For $211,000 maturing Jan. Board of Educations •• vv ^ 15, $9,000 in 1950 to 1954, $10,008 J ; in 1955 to 1957, $11,000 in 1958 to Butler County (P.1 O.' Hamilton), 1960, $12,000 in 1961 to 1963, $13,-; EWMohio a will be Offering received ; Sealed bids until noon on Jan. 17, by Thomas A. Feltz, Clerk of the Board of County Commis¬ sioners, for the purchase of $42,543.90 2%% water and sewer 000 in 1964 to 1968, $14,000 in 1967 and 1968, as 2y4s, and $139,008 maturing Jan. 15, $14,000 in 1969. $15,000 in 1970 to 1972, and $16, 000 in 1973 to 1977, as 2%s. Dated Jan. 15, 1947. Denom. $1,000. The next highest bidder was Weil, > bonds. Denom. $1,000, one for Roth & Irving Co., at a net inter-* $543.90. Dated Jam-1,* 1947. Due est cost of 2.42%;//,;/7 ^ ft on Dec. 15: $2,543.90 in 1948; $3,000, 1949 to I960, and $2*000 in : London ' Exempted Village Sch. ; Second high bid of 1Q0.375 for 1961 and 1962. Bidders may bid Dist. (P. O." London), Ohio, • l%s was- made by R; S. Dickson f orA a-; different rate of interest Bond Offering —/ Sealed bids C* — t_ • -.1. & Co.v 1. • 1 _ /» -i ; AA • - o -;-. v > ; Aa B o n d Washington Public Sch. Dist., N. C. p. 330.18 bonds J-. in multiples of y4 of 1%, but no will be /■V received until noon ofc JUWMHWIW ijtiwiilti^ wiiis^'XC^*J {w^Vi ."Wj ii tiyJ5.-£W3ji'ii THE COMMERCIAL & 262 of $287,000 3% school $1,000. Dated Jan, purchase offered bonds bonds. Denom. for sale on Broken f •V must Education, ; bid. Bond by purchase of $50,000 4% swimming pool coupon bonds Dated Jan. 1, 1947. Denom. $1,000 These bonds are due Oct. 1, as the for follows: $3,000 in V J. for the Jan. 20 sealed bids until noon on 194s, at a price of 100.782. sewer — The street improve¬ Bidders are to name the rate of interest City in a multiple the of the face amount payable to the Dis-jy Treasurer, must accompany ; ' bid. /; 7-.7V7. ■';S: v .V-- ^7 • check for 2% of the bonds, trict 1%, and the rate must be same for all of the bonds. De¬ of S4'„of ttiak-tbe $98,000 Oklahoma Edwards, Inc., the *W\¥ . sanitary 25,000 C. Iffland, Village Clerk purchase of $38,000 21/2% bonds. Denomination $1,- 7V: sewef system bonds, taking $14,000 as due from Jan. 214s, 1, 1952 to 1958; remaining $11,000 as 294 s, due from Jan. 1, 1959 to 1963. the 1 1, 1947. Due on follows: $3,000 in 1948 and 1949, and $4,000 in 1950 to 1957. Bidders may bid for a dif¬ ferent rate of interest in a mul¬ nomination $1,000. City, as noted here .. Dec. 1, as 1948, $4,000 in $35,000 SOUTH DAKOTA Dated Feb. 1, 1947.. Due on Feb. 1: $2,000 in '■{Z-z:Z':' Brookings, S. —v. 164, p. 3463—were purchased 1949 to 1952; $3,000 in 1953,rand Bond Sale—The $165,000 air¬ by the said firm at par, as fol¬ $2,000 in 1954 to 1965. Principal port bonds awarded on Jan. 6 at lows: and interest payable at the First public auction—v. 164, p. 3464— $65,000 Water works system bonds, National Bank of Belle Vernon. were purchased by the First Na¬ taking./ $45,000 as 294 s, due Registerable as to principal only. tional Bank ",of Mihneapp^ ■$$1 $5,000 from Jan. 1, 1950 to No bid for less than par and ac¬ Associates, as 1.40s, at a price of 7 1958; the remaining $20,000 as crued interest or for less than all 100.47, a basis of about 1.321%. 214s, due $5,000 from Jan; 1, of the bonds will be considered. Dated Jan. 1, 1947 and due on Jan. i .77 1959 to 1962;:: V " Legal : approval of Burgwin & 1 from 1949 to 1958 inclusive. The of Dated Jan. 000. Details bonds sold to R. J. Sylvania, ■ Bond Offering—Sealed bids wil be received until noon on Jan. 15 receive will Clerk, Village er, the .."I-y Lowellville, Ohio Offering—Joseph R. Fish¬ :: V; accompany , . for Arrow, Okla. Clerk now states —v. 164, p. 3342^were awarded to $6,000 on Nov. 1, 1948, $6,000 on May 1, and Nov. 1, Braun, Bosworth & Co., Inc., as in 1949 to 1971. A different rate 194s, at a price of 100.889, a basis Dated Jan. 1, of interest may be specified in of about 1.35%. multiples of 94 of i%.'No bid is 1947. Denomination $1,000. These bonds are due $20,000 from Oct. to be for less than par and ac¬ crued interest. A $5,700 certified 1, 1948 to 1957. The next highest check, payable to the Board of bidder was Halsey, Stuart & Co., and Sale Bond Jan. 6 May 1, and of ment bonds. O. Cleveland), Ohio Bond Sale—The $200,000 school (P. of the Board chase OKLAHOMA Dist. Heights City School Shaker by H. P. Beathard, Clerk of Education, for the Jan. 15, 1947 Monday, January 13, FINANCIAL: CHRONICLE 8,000 street equipment bonds as 21/4s. Due from Jan. 1, 1952 to 1959. ' :b-. th ■ "'t. ft- ■Zi $ Pittsburgh, WilP be hext best offer of 100.469 for 1.40s furnished to purchaser without was made by the Northwestern ! charge. A $700 certified check, National Bank of Minneapolis. payable to the Borough, must ac¬ Jerauld County (P. O. Wessingcompany the bid. ten Springs), S. Dak. Bond Sale—The $35,000 hospital Bethlehem Township (P. O. R.D. bonds offered for sale on Jan. ?— No. 3, Easton), Pa. y Bonds Sold—An issue of $15,- v. 164, p. 3008—were awarded ta 000 funding and improvement the Bank of Alpena, as 1.20s, at a Dated Jan. 1, 1947. bonds offered for sale on June 1, price of par. Denom. $1,000. These bonds are: was purchased by the Easton Trust due Jan. 1, 1957* ; 1 Co., of Easton,, as 194s, at a; price Churchill of . 1 in 1951 Interest payable J-J. $4,000 in 1953, $3,000 in 1954, 4,000 in 1955, $3,000 tiple of Va of 1%. No bid is to be Cashing, Okla. in 1956, $4,000 in 1957, and $3,000 for less than par and accrued in¬ Bond Election —- An issue of A $500 certified check in 1958 to 1962. Bidders may bid terest. $200,000'; municipal hospital of 100.179. for a different rate of interest in payable to the Village, must ac¬ Interest, payable J*J. Lennox Independent Sch. i)ist.\; bonds, to bear not exceeding 3% company the bid. " ' multiples of 94 of- 1%. Principa No. 65, S. Dak. ZpZ:;Z;^: interest, will be submitted to the Brentwood CP' O. Pittsburgh), Pa. and interest (A-O) payable at the Bond Sale—The $25,000 refund-^ Bond Offering—Fred H. Appenvoters at the election to be held '7 Van Wert, Ohio Lowellville Bank. Approving Bond Sale—The $11,000 traffic on Jan. 21. These bonds will ma¬ rodt, Borough Secretary, will re- ing bonds offered Jan. 7-^.7164, opinion to be furnished by Squire ceiye/sealed bids until;8.30 p,m, p. 3464—were - awarded to the signal bonds offered for sale on ture in 20 years. Sanders & Dempsey, of Cleveland on Jan. 21, for the purchase of Farmers State Bank of Canton. Jan. 6, were awarded to J. A Temple, Okla. at the expense of the Village. A These bonds were authorized at White & Co., of Cincinnati, $300,000 park coupon bonds. De¬ as Bond Sale—The $50,000 water certified check for $500, payable These bonds the election held on Dec. 10.; Sec¬ 194s, at a price of 100.672, a basis works extension and improve¬ nomination $1,600. to the Village, must 'accompany are due $10,000 Feb. 1, 1948 to ond high bid of 100.408 for 194s of about 1.39%. Dated Jan. ment bonds offered Jan. 7—v.-169, the bid. * " 1977. Bidders to name the rate of was made by the First National > 1947. These bonds are due $500 on p. 110—Were sold to a local "in¬ interest in a multiple of Va of 1%. Bank, & Trust Co., of Sioux Falli March 1, and on Sept. 1, in 1948 Minerva Exempted Village Sch. vestor as follows: $12,000 294 s,> The^ purchaser will receive with¬ to 1958, inclusive. Interest payable District, Ohio ZZ['*''. y'y:: Viborg, S. Dak. ' Z- ■ due from 1950 to 1953 incl.; $20,out charge the opinion of Burg¬ M-S. The next highest bidder Bonds to Be Sold—Oscar Shaw I Bond Salei The $10,00^ Water 000 2%s, due from 1954 to 1960 win & Churchill, rOf Pittsburgh, bonds offered for sale on Jan. 6— Clerk of the Board of Educa- was Seasongood & Mayer, for l%s, incl., and $18,000 2s, due from .that-the bonds are valid, general v. 164, p. 3464—were awarded to /y77; y tion, has advised that the $50,000 at a price of 100.70. 1960 to 1966 incl. These bonds obligations of the Borough. En¬ J. G. Wolff, of Viborg, as 2,40s. stadium bonds authorized at the were authorized at the election close a certified check for $6,000, These bonds were authorized at Washington-Bloomfield Local election held in November, 1945, 1949, $3,000 in 1950, $4,000 7 $3,000 in 1952. . • , be placed on the the near future. 1 may Mt. Pleasant : market in <.v Local Sch. Dist. O. Dillonvale), Ohio ;y Bond Offering — Sealed bids (P. SchoolDUtrict held (P.' O. on Dec. 17. an election held last August. The payable to the Borough Clerk. O. Tulsa), Okla. next highest bidder was. the Se¬ Drumore Twp» Sch. Dist. (P. O. $280,000 bridge curity National Bank, Viborg, for DrumorC), Pa. bonds < offered for Clarren/ Clerk of the Board of construction z Bonds Voted—At a recent elec? 294s. Education, will receive sealed bids sale on Jan. 3—v. 165, p, 119— ,'TEXAS / ' tion the voters are said to have ap¬ jointly to Stern until noon on Jan. 20, for the pur¬ were awarded proved the issuance of $29,425 ZZzzZzZZ;: chase -of $25,000 2% building Bros. & Co.j of Kansas City, and Bellaire, Texas school bonds by a wide margin. Bond Election — It is reported bonds. Dated Jan. 1, 1947. Denom¬ Braun, Bosworth & Co., Inc., at a that an election will be held on ination $1,000. These bonds are price of 100.07, a net interest cost Pittston Township (P. O. Pitts* Jan. 25, in order to have the voters due $1,000 Dec. 1, 1948 to 1957. of about 1.824%, on the bonds di¬ ZZZZz^ZZz ton), Pa; \V0z Bidders may- bid for a different vided as follows: $225,000 as l3/4s, Bonds Offered—Kline, Lynch & pass 7 on the Issuance of various civic improvement bonds totaling rate of interest in a multiple of due $15,000 from-Jan. ll, i950 to Co., of Cincinnati, are offering an Va of 1%. These bonds were au¬ 1964; the remaining $55,000 as 2s, issue of $25,000 394% judgment $1,000,000. f ' thorized at the election held on due $15,000 on Jan. 1, in 1965 and funding bonds. Dated Nov. 15, Brownsville, Texas 7-.? 7 Nov. 5. Enclose a certified check 1966, and $25,000 in 1967. Dated 1946. Denom. $1,000. These bonds Bond Election The following for $250, payable to the Board Jan. i, 1947. Interest payable J-J. are due Nov. 15, as follows: $1,000 revenue bonds amounting to $1,of Education. Among the other bids received in 1947 to 1961, and $2,000 in 1963 750,000, will be submitted to the \ 1 '• y !• -V * 'b r'; was an offer by Halsey, Stuart & to 1966. Principal and interest voters at the election to be held Westerville Sch. Dist., Ohio Co., of 100.01 for $165,000 as l3/4s, payable at the Minets Savings on Jan. 18: $1,250,000 light and Bond Offering—Leona D. Kel- and $115,000 as 2s, giving a net Bank, Pittston. Legality approved power system; $400,000 water ser. Clerk of the Board of Edu¬ interest cost of about 1.90 %.. by Townsend, Elliott & MUnsoh, works system, and $100,000 sewer cation, will receive -sealed bids of Philadelphia. system bonds. ; . OREGON SliiBI® until - noon on Jan. ~13, for the 7 '77:TZzz.77 ZZ'Z0;Z. ■ ■ ZzZ- Z ' *■ f:; Reading, Pa. purchase of : $250,000 building Dallas, Ore. > ■ *7;: Clarksvilte, Texas ' ~' ' Bend Sale—^The $1,500,000 gqpbonds, to bear not exceeding 3% Bond Sale Details-^—It is now Bond Sale — The $17,000 street eral and water improvement interest. Dated Jan. 1, 1947. De¬ stated that the $75,000 water paving bonds offered for sale on bonds offered Jan. 8—v. 164, p. nomination $1,000. These bonds Jan. 6, were awarded to ;the 3200L—w;ere awarded to a syndi¬ works and sewerage bonds sold are due $5,000 on June and Dec. United States National Bank, of cate composed of Harris Trust & jointly to Rauscher, Pierce & Co. 1, in 1948 to 1957, and $6,000 on Portland, as 1^4 s, at a price of Savings Bank, of Chicago, Equita¬ and the Red River National Bank, June and Dec. 1, from 1958 to of Clarksville, as noted here—v. 100.12. The next highest bidder ble Securities Corp., R. W. PressJune 1, 1970. Rate of interest to was the First National Bank, prich & Co., Reynolds & Co., Phil¬ 164, p. 3464—were purchased by be in multiples of Va of 1%. En¬ Portland, for 194s, at a price of lips, Schmertz & Robinson, and the above at a price of 100.313, a close a certified check for $2,500, net interest cost of about i 2.31%, 100.123. Moore, Leonard & Lynch, as l%s, payable ; to, the Board of Educa¬ The bonds are dated Jan. 1, at a price of 100.659, a basis of on the bonds divided as follows: Iberia), Ohio 7', *' Bond Offering — Dwight Mc9 ' , Tulsa County (P. Bond Sale—The . will • received be until on noon by Ann E. Denger, Clerk of the Board of Education, for the Jan. 15, purchase of $54,000 school bonds Interest rate is not to exceed 3%, payable J-J. .Rate to be in mul¬ tiples of 94' of 1%, and no bid is to be for less than par and accrued interest. Denom. $1,000. Dated Z 1,' 1947. Due $1,000 on Jan. 1, and $2,000 on July 1, in 1949 to Jan, These bonds were 1966. approved by the voters on Nov. 5, 1946. A certified check for $600, payable of the Board to accompany Education, must the bid. 77 ^ . — -/ , , , . Newark City School District, Ohio Bond Sale — The $265,000 for sale 164, p. 3463—were the Harris Trust & 7—v. Jan. on offered bonds building awarded to Bank, of : Chicago, as 1%b, at a price of 102.039, a basis of about 1.566%, Dated Jan. 1, 1947. Denomination $1,000. These bonds are due in 1948 to 1972. The next highest bidder was HalSavings - tz Stuart & Co., for l%s, price of 102.01; sey, Salem Bond at a City School District, Ohio Offering—G eorge F. Koontz, Clerk of the Board of Education, will receive sealed bids until noon on Jan. 29, for the purchase of $750,000 2% school coupon bonds. Dated Feb. 1, 1947. Denomination $1,000. These bonds are due Nov. 1, as follows: $38,000 in in in in in in in $37,000 in 1963, $38,000 in $37,000 in 1965, $38,000 in and $37,000 in 1967. Rate of $37,000 in 1949, $38,000 $37,000 in 1951, $38,000 $37,000 in 1953, $38,000 $37,000 in 1955, $38,000 $37,000 in 1957, $38,000 $37,000 in 1959, $38,000 $37,000 in 1961, $38,000 in 1948, ■ 1950, 1952, 1954, 1956, 1958, 1960, 1962, 1964, 1966, interest to be of Principal 1%. (M-N) in multiples of and interest payable at the legal de¬ positary of the Board The tion. Va approving of Educa¬ opinion of & Dempsey, of Cleveland, will be furnished at Sanders Squire, the certified to District. A check for $7,500, payable expense the of the Board of Education, must accompany the bid. 4 • . • < > ., , tion. ffz Bond Willowick, Ohio Offering—Wm. E, Village Clerk, man, Dett- will:receive fol¬ and 1950 to 1959.7 Principal 1947, and mature Jan. 1, as $1,000 in 1948 and 1949, about 1.283%. $1,500 in due lows: Dated Jan. 1, 1947. $1,000. These bonds are Jan. 1, in 1948 to 1962. Second Denom. at the City high bid for 100.461 for l%s was sealed bids until noon on Jan. 27, Treasurer's office. Net income made by Wood, Struthers & Co. for the purchase of $50,000 3% ///ZZ-ZZ iZZZ 7 Z'iZ-Z'Z' Z basis of about 1.433%. village hall bonds. Dated Dec. 1, : Sayre' School District, Pa. 1946. Denomination $1,000. These Klamath County, Klamath Drain Bond Sale—The $100,000 school bonds are due $2,000 from Dec. Dist. (P. O. Klamath Falls), Ore. bonds offered for sale on Jan. 2 Bond Sale—The $100,000 drain¬ —v. 1, 1948 to 1972. Bidders may bid 164, p. 3464—were awarded for a different rate of interest in age bonds offered for sale on July to Moore, Leonard & Lynch, of a multiple of Va of 1%. The ap¬ 27, were awarded to Juran & Pittsburgh, as l%s,:at a price of proving opinion of Squire,. Sand¬ Moody, of St. Paul, as 2y4s, at a 100.183, a basis of about 1.34%. ers & Dempsey, of Cleveland, will price of 96.25. Interest payable Dated Feb. 1, 1947.: Denomina¬ be furnished. These bonds were J-J.zzz:Vp:,r^z:::zz}z tion $1,000. These bonds are due V,-.;: '.7 ' <.. • ■ •/, ■ ■ authorized at the election held on Feb. 1, in 1949 to 1956. The next Oregon (P. O. Salem), Ore.: Sept. 10, 1946. A certified check Bond Sale—The $1,000,000 vet¬ highest bidder was Blair & Co., for $500, payable to the Village, is erans' welfare bonds offered for Inc., for 194s, at a price of 100.698. required. • < •'/•' 7• sale on Jan. 3—v, 164, p. 3199— Upper Dublin Township Schoot Wooster School District, Ohio were awarded to the First Nation¬ District, Pa. ':[z*:zZ' Bond Sale The $695,000 al Bank, of Portland, as Is, at a Bond Offering—Edward L. Lee, building bonds offered for sale on price of 99.0598, a basis of about Secretary of the Board of Direct¬ Jan. 8—v. 164, p. 3463—were 1.10%. Dated April 1, 1947. De¬ ors, will receive sealed bids until awarded to the First National nomination $1,000. These bonds 8 p.m. on Jan. 13, for the pur¬ Bank, of Chicago, and Fahey, are due April 1, 1957. The next chase of $300,000 building coupon Clark & Co., of Cleveland, jointly, highest bidder was the State Bond bonds. Dated Jan. 1, 1947. De¬ as l3/4s, at a price of 102.289%, a Commission, for Is, at a price of nomination $1,000. These bonds Z:zZJXi'::.:-ZZ-*Z^ Dasis of about 1.544%. Dated Jan. 99.055.' Z:ZZZzVZ-i y:-;Z"\ are due $12,000 from Jan. 1, 1948 1, 1947. Denomination $1,000. PENNSYLVANIA to 1972. Bidders to name the rate and interest payable $16,000 as 294s, due from .Jan^ 1, 1948 to 1955; $28,000 as 294s, due from Jan. 1, 1956 to 1959, and $31,000 as 294 s, due from Jan. 1, 1960 to 1964. Interest payable j^J, 7 7 Eastland Z County, Morton Community Sch. Dist. ' Alley No. 4 ; (P. O. Eastland), Texas Bonds Not Sold—D. D. Frank¬ Secretary of the Board of Trustees, reports that the $15,000 school house bonds, to bear not exceeding 3% interest, offered for sale on July 11, were not sold. lin, . . El Campo, V",*. Texas 7' "7 Bonds Sold—An issue of was < sewer bonds totaling $300,000 purchased on Oct. 25, by R. N. Co., of Houston. 7 revenue Eddleman & — • These bonds are due in 1973. The next highest 1948 to bidder was 3raun, Bosworth .& Co., Inc., Ceylon E. Hudson, and Merrill, Turben & Co., jointly, for ia/4s, at a price of 101.132. Belle Vernon, Pa. El Paso, Texas Bonds Voted—The (] City Auditor states that at the election held i on Jan. 4, the voters approved by very heavy majority the proposal $2,000,000 track underpass- a > to issue bonds. ' 1 - -./v;7;, . -■! 7 Henderson, Texas ' Sale—The $275,000 street of interest in a multiple of Va of water, sewer, city hall and park 1 %. Theapproving opinion of Offering—Sealed bids will be received until 7:30 p.m. (EST), Townsend, Elliott & Munson, of on Jan. 13, by John A. Reppert, Philadelphia, will be furnished the successful bidden/ A certified Borough Secretary, for the pur¬ Bond W;kzz, Bond bonds -v. offered 164,; p. for sate .Jan. 3 awarded on 3464—were to the Dallas Union Trust Co., of 1 Volume 165 Dallas: Dated Jan. 15,1947. These bonds were authorized at an elec¬ tion held in December. The next ■ THE COMMERCIAL & FINANCIAL* CHRONICLE Number 4559 • highest - bidder Southwest Co. $1,000. These bonds rate Jefferson; County Drain District No. 4, [ Bond (P. O. Beaumont), Texas Offering —W. • W. Pat Kent, County Judges will receive sealed bids ' until 10 Jan. on a.m. 20, for the purchase of $350,000 drainage coupon bonds; not ex* needing 4% interest. Dated March 1, Denomination 1947, These bonds $1,000; due March 1. as are follows:' $7,000 in Denoirt. 1948 and 1949. or rates named Gas and due Feb. are 1, in 1948 to 1972. Principal and First interest payable at the place de¬ signated by the purchaser. Any 'V the was Dated Feb, 1; 1947. est. must be in Tobacco Tax Break Records Revenues' 1, $25;000 in 1949, $35,000 in 1950 and 1951, $40,000 in 1952 to 1954, Both State gasoline and tobacco tax collections for the first 10 months of 1946 exceeded totals for all of 1945 263 according to the Fed¬ multiple of V& of. 1 %. ; The Dis¬ eration of Tax Administrators. trict will furnish the approving Though gasoline tax revenues opinion of McCall, Parkhurst & for October were 7% less than for Crowe, of Dallas, and will deliver the preceding month, collections the bonds to the bank designated up to Nov. 1 totaled almost $935 by the purchasers without cost to million; *$85.3 million more than them. It is anticipated that de¬ the -amount collected during all livery can be effected within ap¬ of 1945. October collections proximately 60 days. Enclose a amounted to $100.3' million. certified check for $12,000, pay¬ During October, State tobacco able to the District. ~ tax collections increased to $22 Fremont County (P. O, Lander) Wyoming Bond Sale — The $110,000 me¬ lVgs; $165,000 maturing Jan. 1, $40,000 in 1955 to 1957, $45,000 in morial hospital bonds offered for 1958, as iy4S, and $270,000 matur¬ sale on Jan. 8, were awarded td ing $45,000 from Jan. 1, 1959 to the First National Bank, of Cody. 1964, as 1 Mj s. Interest payable JtJ. The. - next highest bidder was Dated Jan. 1, 1947. Denomination Otis & Co. $1,000. Second best bid was an offer of par for $490,000 as l%s/ and the remaining $160,000 as 1 y4s, submitted by F. S. Moseley Canada (Dominion pf) & Co., Hornblower & Weeks, and Booklet on Canadian Govern¬ Lyons & Shafto, bidding jointly. as - CANADA ment WASHINGTON Franklin County, Kahlotus and Municipal Statistics — Gundy & Co., Inc., have Wood, Cons, just prepared booklet of concise a statistical information regarding $8,000 in 1950," $9,000 in 1951, $10^ million. Revenue from this source Sch. Dist. No. S3 (P. O. Rosenberg, Texas 000 in 1952, $12,000 in 1953, $13,the financial position of the Do¬ for the first 10 months of 1946 to¬ Bonds Sold Beecher Coch¬ Pasco), Wash. 000 in 1954, .$14,000 in 1955, $15,minion of Canada, its nine prov¬ taled $197.3 million, $32.9 million Bond Sale An issue of $29,250 ran, City Secretary, has Announced 000 in 1956, $16,000 in 1957, $18,inces and 14 of the larger cities. more than for the entire 1945 cal¬ that the following bonds amount¬ building bonds offered for sale re¬ — — 000 in 1958, $19,000 in 1959, $20,000 in 1960, $22,000 in 1961, $23,000 in 1962, $24,000 in 1963, 000 in 1964, $28,000 in 1965, 000 in 1966, and $30,000 in ing to $300,000 and authorized at the election held Dec. 21, on have $26.- been sold: $29 $100,000 street bonds;; T ; iv / 1967. 35,000 sewer system bonds. / : Principal and interest payable at i 25,000 park bonds. ^ the County Treasurer's office. 85,000 water works. r eve n u The bonds are the general obliga¬ tions of the District. final The Unqualified approving legal opin¬ ion of Chapman & Cutler, of Chi¬ cago, will be furnished tq the suc¬ cessful bidder. Enclose check for a certified $7,000, payable to the County Judge, * . : sewer revenue bonds? Postponement' -V e - .'-Son Ajitonio, Texas Bond Call Olive D> Hodson; * City Clerk, has announced that the electric and gas revenue bonds Nos. 33,554 to 34,945 amounting to > Mc Allen Indep. Sch. Dist., Texas 'Bond Offering — Lewis H. • Said bonds are to redeemed be presentation by the regis¬ upon Moore, President of the Board of trustees, will receive sealed bids tered holder thereof. If registered, until bearer 8 p.m. on Jan. 29, for the purchase of $600,000 school house bonds, not exceeding 3Ms% inter¬ the holder thereof; if of form, at the Chemical Bank New York City. In¬ terest ceases on date called. 33' by or & Trust Co., was cou¬ pled with drain on available funds to pay higher wages is forcing of major public postponement works pro j ects in an increasing number of U. S. cities according to the international City Man¬ 1947. Denomination $1,000, one for $250. These bonds are due from Jan. 1, 1949 to 1953. Interest pay¬ able J -J. The next highest bidder was Richards & Blum, for 2s, at a price of 100.726. '^Terferai Public Housing Authority , • i Local Units Offer Temporary Loans — Eighteen Local Housing Authorities will receive sealed bids until Jan. 28, for the purchase 6f a total of $32,357,000 of their temporary loan notes. These notes Will be dated Feb. 19; 1947, except the Puerto Rico notes, which wil be dated Feb. 25, 1947. The various issues are described as follows A . ' Local Authority Amount 3 $193,000" * Rrownsville, Texas Chicagb, 111. r.— -333. 18,471,000 Clackamas County, Ore.526,000 Contra Costa County, Calif.——— M 919,000 ' Fayetteville,; ■ N.' G.i3-.33-33-.3~333V347,0OQ" Fort Smithj Ark.—*3659,000 —— King County/ Wash.3^. 33"'3;165,000' New Orleans, a : 3,080,000 Providence, R. I.—~I——^ 214,000 Puerto Rico—. Richmond, Calif.' - Richmond, Va. Rock Island, 111.-—^ San Bernardino County, Calif.-— 368,000 ?: \ .-i-..-™..-- - 640,000 1,381,000 — -3 -1,017,000 1,239,000 > : Maturity Feb. 24, 1948 "Aug. 26, 1947 Feb. 24, 1948 Feb. 24, 1948 Feb..24, 1948 Feb. 24, 1948 Mar. 2, 1948 Feb. 10, 1948 Feb. 24, 1948 Feb. 24, 1948 Mar. 2, 1948 Feb. 24, 1948 Feb. 24, 1948 Feb. 24, 1948 Feb. 24, 1948 Feb. 24, 1948 Feb. 24, 1948 Feb. 10, 1948 are . Of 17 cities recently surveyed to provinces, as collections and well ♦ become^rohibitive.? •' A 'similarv report comes- from Grand Junction, Colo,, where bids have been rejected on much- needed waterworks because for total tax capita debts of the cities. All statistics given in, booklet the are in¬ flation has put construction costs as per in terms of Ca¬ nadian dollars. ; Sold—An issue of* Dated Jan. 10,1947 and due April 'V^-TV' 11, 1947. BRITISH COLUMBIA ."V British Columbia (P. O. Victoria) British Columbia Debenture Sale — The $5,000,sinking fund debentures sale recently, were awarded to a syndicate composed of A. E. Ames Co., Dominion Securities Corp., Wood/ Gundy & Co., Canadian Bank of Commerce, all of Toronto, and the Royal Bank of Canada, of Montreal, at a price of 99.31, a basis of about 2.795%. These bonds are due on Jan. 15, 1967. The next highest bidder was Mills, Spence & Co., and Asso¬ ciates, at a price of 98.50. 000 2%% offered for ONTARIO ^Ji^nr-refuMingv bonds,; lq,,he|n not-exceeding^ 2 % % interest Dated Feb." 1, 1947. Due Feb ¥ 1, as follows: $70,000 in 1951, •' $89,000 in 1952, $164,000 in V: 1953, $170,000 irt 1954, $176,000 in 1955, $182,000 in 1956, $188,000 in 1957, $195,000 in 1958; $202,000 in 1959, $209,000 o in 1960 and - $216,000 in 1961. Coupon rates bid shall be in mul¬ tiples of J4 of 1%. Principal and $75,000 Jan. 9, treasury bills was sold on at an average yield of 0.399%. . station have included penditure of the Dominion and the Bills ' UNITED STATES tables , Seattle, Wash. Bond Offering — W. C. Thomas, City Clerk, will receive sealed bids determine effects of rising prices until 10 a.m. on Jan. 13, for the on municipal operating costs, purchase of the following revenue nearly all are curtailing con¬ bonds amounting to $8,361,000: struction of capital improvements $6,500,000 series LR-7, issue of because of 100% increases in 1933,; municipal light and building costs. At the same time power bonds, to bear not ex¬ immediate necessity to pay higher ceeding 6% interest. Due Jan. wages and extend some city serv¬ 1, as follows: $70,000 in 1949, ices regardless of cost has stimu¬ $90,000 in 1950, $80,000 in lated the already almost desperate 1951, $100,000 in 1952 and search for new sources of revenue. 1953, $149,000 in 1954, $199,Muskegon, Mich., is cited as a 1 000 in 1955, $250,000 in 1956, typical example of public works "$303,000 in 1957, $356,000 in curtailment. Work on the city's 1958, $410,000 in 1959, $464,new sewage disposal plant addi¬ 000 in 1960, $519,000 in 1961 tion has been suspended because : $576,000 in 1962, $634,000 in at current prices it would cos ; t 1963, $592,000 in 1964, $551,$900,000 fpr construction planned 000 in 1965^ $533,000 in 1966 last year to cost $500,000. Bartlesand $524,000 in 1967. ville, Okla., may have to ration water next summer because costs 1,861,000 series LS-4, issue o 1946, muncipal light and powof constructing a new - pumping agers'Association, Two awarded to Foster & comparative purposes relating to Marshall, of Portland, as 1V2?, at the debt position, revenue and ex¬ a price of 100.094. Dated Jan; 1, ' Bonds Voted An ; issue' of $1,392,000, are called for payment on Feb. I, at the principal amount $350,000 drainage bonds was rati¬ thereof plus accrued interest, plus fied at the election held on Dec. a premium of $50 for each bond : 14gj946 redeemed. Dated Aug. 1, 1942, 1 cently, Inflation Forces Public Works Inflated construction costs bonds, 55,000 endar year. Ontario (P, O. Toronto), Ont^ . : Debentures Offered for Invest¬ ment —- An issue of T td' 2% % de¬ bentures totaling $50,000,000, is being offered for public subscrip¬ tion by Wood, Gundy & Co., of beyond municipal budget limits. Toronto. These debentures mature Berkeley, Calif., recently adopted in 1948 to 1977. a policy of rej ecting bids out of line with normal price levels on QUEBEC virtually all but - "emergency" Bedford, Que. projects. Austin, Texas, is post¬ Bond Sale — The $50,000 3%;; poning construction of new mu¬ semi-annual interest payable at nicipal buildings for which plans the Washington Fiscal Agency in semi-annual improvement bonds New York City or at the City offered for sale recently, were already were completed. awarded to Wood, Gundy & .Co., j The same dilemma prevails in Treasurer's office, at the option .. * > , other cities. In Long Beach, Calif ., construction of new fire stations of the holder. Said bonds will be and the Canadian Bank of Com¬ York merce, both of Toronto, jointly, Scranton, Pa; * 501,000 and libraries is being postponed. City, Chicago, Boston or Cincin¬ at a price of 102.35, a basis Of \ Seattle; Wash. .——3.———t-!-1^414,000 High Point, N. C., also is curtail¬ nati, at the option of the pur¬ about 2.76%. Dated Jan. 1, 1947. Tuckahoe, N. Y — 105,000 ing public works construction. chaser, and shall be registered as These bonds are due, in from 1 to 20 years. The next highest bid¬ ! Local Housing Authority Notes Washington County Housing Au¬ Budget increases in both these to principal. Legality to be ap¬ der was Rene T. Leclercj Inc., at Awarded by 11 Units—The tem¬ thority, Pa;, notes, at .88%, plus a cities are attributed to municipal proved by Wood, Hoffman, King & Dawson, of New York . V ; City, a price of 100.19. pay increases and extension of es¬ ~ • porary loan: notes aggregating premium of $11.00.; whose favorable opinion will be Salomon Bros. & Hutzler, of sential services to new residential $27,444,000, offered for sale on Montreal,, Que. i delivered to the purchaser free districts. ; Jan. 7, were purchased as follows: New York, were the successful Debenture Sale — The following Other cities postponing work on of cost. The Chemical Bank & Trust Co,, bidders for the $2,000,000, Thirty:V.^£ '■'i C'*' '4:^'.-"v ! pf New York, and Associates, were fifth Series, St. Louis Housing Au¬ planned capital improvements in¬ Yakima County, Selah Sch. Dist. debentures amounting to $34,077,the successful bidder for $1,781,000 thority, Mo., notes, at .88%, plus a clude Ashtabula, Ohio; Newton, 000 and offered for sale recently, (P. O. Yakima), Wash. Bremerton Housing Authority, premium of $23.00; $1,500,000 Kan.; Roanoke, Va.,; and West awarded to Bonds Voted — An issue of were a syndicate Palm Beach, Fla. Despite curtail¬ Wash., $925,000 Little Rock Hous¬ Twenty-eighth Series, Allegheny $20,000 construction bonds carried headed by the Dominion Securities ing public works construction, ing Authority, Ark., $2,558,000 County Housing Authority, Pa., at the election held on Dec. 14. Corp., Ltd., of Toronto, and L. G. St. Louis Housing Authority, Mo., notes, at .89%, plus a premium of more than half the 17 cities sur¬ These bonds are due in 10 years, Beaubien & Co., of Montreal, ^ at $7,331,000 San Francisco Housing $23.00, and $1,000,000, Thirty-fifth veyed have found it necessary to Au'thori ty,; Calif. San Francisco Housing increase tax rates during the (City and Series, a price of 99.11: VIRGINIA past County), and $152,000 Santa Bar¬ Auth orit y, Calif. (City and Cabell County (P. O. Huntington) $4;050,000 1^% refunding bonds. bara County Housing Authority, County), note's, at; .90%, plus a year.: Three cities lowered tax W.Va. Due Nov. 1, 1948. rates in 1946 but increased prop¬ Calif., notes, at .90%, plus small premium of $19.00. * 2,466,000 21/4% refunding bonds. ; ; Tenders Wanted Boone B. .The premiums. valuations generally in¬ Bessemer;;-Trust,; Co., of erty Due Nov. 1, 1951. Arthur, President of the County The Central Hanover Bank & Jersey City, was the successful creased total property tax rev¬ 9,416,000 2 J/2 % refunding bonds. Trust Co., of New York, was the bidder for the $786,000 Winne¬ Court, will receive sealed tenders enues. Due Nov. 1, as follows: '3', until Feb. 1, for the purchase of successful bidder for the $1,292,- bago County Housing Authority, $4,114,000 in 1953, and $5,302,* toll bridge revenue bonds, dated 000, Twenty-seventh Series, Alle¬ 111., notes, at .88%, plus a premium VERMONT 000 in 1954. / ; Aug, 1, 1940. ' j gheny County Housing Authority, of $2.00; $697,000, Twenty-second 6,259,000 3% refunding bonds. Pa., notes, at .85%, plus a premi¬ Series,, Norfolk Housing Author¬ University of Vermont and State Due Nov, 1, 1960. WYOMING Agricultural College (P. O. um of $7.00; $1,000,000, Twenty- ity,. Va.> notesr. at .89%> plus a 979,000 3% refunding bonds. Burlington), Vt. sixth Converse County, (P. O. Douglas) Series, Allegheny County premium of $2.00, and $175,000, Due Nov. 1, 1963. Bond Sale The $650,000 dor¬ Housing Authority, Pa., $986,000, Conway Housing Authority, Ark., Wyoming 10,907,000 3% refunding bonds, Twenty-fourth Series, Norfolk notes, at .90%, plus a premium of mitory revenue bonds offered for Bond Sale — The $20,000 me¬ f Due Nov. 1, as follows: Housing Authority, Va., $500,000 $2.00... %j;.sale on Jan. 7—v., 164, p. 3464— morial hospital bonds offered for $7,522,000 in 1968, and $3,385,R. W. Pressprich & Co., of New Thirty-first Series, St. Louis 000 in 1969, ' sale on Jan.. 4—v, 164, p. 3464— were awarded to a syndicate com¬ Housing Authority, Mo., notes, York, were the successful bidders , - delivered in Seattle, New , ;|||1|;WEST.: , , — - at .86 %, plus a premium of $7.00 -for the $1,000,000, Twenty-third each series; $1,007,000 Charles¬ Series, Norfolk Housing Author¬ on posed of Roosevelt & Cross, G. F. Childs & Co., Mackey, Dunn were purchased as 0.75s. Interest Dated Jan. 15,1947. Principal and & payable F-A. Dated Feb. 1, 1947. interest. payable in lawful money ton Housing Authority, S. C., ity, Va.,.notes, at .79%, plus a Co., and Tripp & Co., all of New Denomination $1,000. These bonds of Canada. The next highest bid¬ $979,000, Thirty-second Series, St. premium of $28.00, and $1,000,000, are due $10,000 on Feb. 1, in 1948 der was the Credit Interprovincial, Louis Housing Authority, Mo., Thirty-third Series, St. Louis York, at a price of 100.031, a net ;notes, at .87 %, plus a premium of Housing Authority, Mo., notes, at interest cost of/ about- L43%, as and 1949, The next highest bid Ltd., Montreal, and Associates, at: $7.00 on each series, and $775,000 .84%, plus a premium of $28.00. follows: for $215,000 maturing Jan< was for Is. ' a price of 99.02. ■•,g"' i i ' ■g;vV THE COMMERCIAL & FINANCIAL ,'r j ''i v* -. y ■ Monday, January 13, 1947 CHRONICLE \'V4, liiigil feSi ;g#g . _ ^ * '£ 1' * t "l", ''* 1 ?■ y-;.,, W* '- > i , "-1. 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' V,,^ }.v,^ ■; g ..., s. ■* ? -f .,v . , • " s, r |; j closets full of bonds. You may even find j| |yburself embarrassed fcy a regular income! I ' Get-gat-gittle! '.^ . t t :| 7 /g ^ rj I ■' 7'g''I -' -':7'-gg M:l I7l:7"77#7?7lt77^ ,7®l I' - v.;'"''"| .l"';7!7*7v 771i|g7l^g; - I tHOV»^ N ^ 7; '., I >,♦ ; f7.,;y. ^'V|7V-7^,,c'7; . -;-.x7f7^ ,7 jV- / ^ ''g7'li77|7g77#l7l77fX'P7 fv EASY SAVE TU f. ^ V-, *^+,t'/y.l.rf yi • )»,»•/ If •>''• • i• * ■'' £f ■ ■■••'; ■ ■■ .7 ■ 7:1' I ;g; g / A * Jf./ v'<' ^ r,v f y* * •. , gi g'.'' f |'g-'>:£v33gg3g,".y 1 7g'7£gggggr.7i77:3g£l7|£;77|f 7711.7^1 " ^ 4 Avm 'l/VI <'^-,'.71'' :v|-ii.".'v«".; ' 77 - - 7 I'll-.,, •""' Contributed by this magazine in co-operation 7 with the ;•• "'' '-Ii','V*77l >•.■'• <'•?'(■'T :"i\ Vi!£.,;l77.77j;''V-':S1i!;; :'-w 11 ; |:• 3.£g|;:i7f»v: :vl777£7afy y Magazine Publishers of America w a public service, | ^ :J.i:. „ { -w • ?