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"Final Edition
^
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-ikHMJ ^
ESTML!$fflmi$39
In 2 Sections -Section 2
an
d
Chronicle
Reg. U. S. Pat. Office
^Volume/165
New York, N. Yv,
Number 4562
Two
Reviews Progress
Excess Profits Tax
Questions Facing
New York Banks
By CHESTER R. DEWEY*
\,§
; returns
di
most
of
as
mem-
our
bers
in-
*
permit continuance of the prac¬
tice on Saturdays throughout the
year. As you know, we sent out
another questionnaire and in view
Jterested in*
mandatory;clo s ipg on;
;Saturdays all/
/year round as
in amounts asked
permissive.
closing during
the four Sum-/
Jmer months.
*■
- Having tried
/the
experi-
r
Chester
|ment of plos;ing oh< Satur
days during
R.
Dewey
the/four
Summer
discussion it
was
ing in under its
Peter
Guy
Evans,
a
on
signature
by
Council, / said
on
Jan.
New
as
own
procedure,
1
1
17
jected at
.
not
of
/
SchooPs
Jor¬
;
with
Dean
"VR.
only
few months ago, and
a
only
a
a
similar consensus
relatively short time back. It is,
have
responsibility for helping to abolish the
busi-
Yet we must beg leave jto remain in the seat of skepticism-^-*
skepticism, that is, less about the course of, business than
Evans
about
G.
anyone's ability at this time to foresee or foretell pre¬
Collins presiding. Representatives
of the financial, banking and tax
cisely,
fraternity were also in attendance.
in the business ivorld !■
during
th&past six. months it
with moderate precision, what is to happen
or even
the ensuing; twelve months,
ft has seemed: fo 1 lis; thai in exceptional degree the state of
business this year
Government at
will be what
we
choose to make it. The
Washington, the labor unions throughout the
country, and business executives across the land, have it in
their hands, so it seems to us, to make this one of the best
was
years in
lem
business
of
informing taxpayers and
Internal Revenue Agents of the
new procedure and machinery set
(Continued on page 500)
satisfactory; As to what
our/histor]^^
management will do; we have little fear, provided
of course,
that the forces of competition have free play.
What
Washington will do and' what tho labor unions will do
depends very largely upon the* reactions of the people a|
large.
■
1;c-:; ■• •'■
^; ■'3*
GENERAL CONTENTS
Editorial
(Continued
on page
496)
,
.
.
493
..
Special Feature*
Monthly Range of Prices
and
on
Stock
Bond.
Issue Transactions on
New York Stock Exchange In 1946. 501
Course of
Prices
for
Government
Securities
:v
'JDufin^ ; 1946 ./&"
520
Monthly Range of Prices on the
Regular Features
tooih
WasiUn^
Jhfc
ing on the se- satisfy this demand;. Under these
,News;■-i♦
A*i v.Vi-.vv.J£f.;.vss.t+ 495
curities ex- circumstances, the Board felt that Moody's Bond Prices and Yields,... 500
Trading on New York Exchanges... 521
C-C h anges, any growthin the Use of credit for
NYSE Odd-Lot Trading..
521
/ which
went the purpose of buying securities Items About
Banks-ai^ Trust. Cos.%; 498
into effect just could only/intensify inflationary
■l qne year ago, pressures/ While it was recognized A*
j
'
~'\i
/ would be re- that margin requirements would Gerierai:Review..V...., 495
'
/
current
great confidence at least by many of those who
-
dan Memorial
of Governors of the
Marriner S. Eccles,
Feb.tl, the war financing, we; rising level of
present pro- current incomes,? the' huge backlog
hibition of of public wants and needs, and the
margin/ trad- acute shortage of'most goods to
was
altogether consistent with what
assumed the
Gov¬
resulting from
pro¬
hi Association, *
held / in
the ;
Trading
try's money supply
officially
howeye^ ;pu£ iorwarct ,-Withti^sid/'an^; with the apjpearance
As We See It.
that beginning
that has
the end of hostilities, almost as different
would have shown
Q ra d u ate'
Business/
School AlUm- l
requirement in effect to; Jan. 21, 1946, will be restored. Statement
of Board calls attention to passing o( inflationary danger, and
announces further action -will depend upon the course of economic
events. Text of Regulation U and T Amendments. -
>
or near
from that which
largely. ponfnmte4with the prob-:
At the close of business, Jan. 17, the Board
Federal Reserve System, through its Chairman,
announced^
course
;
in
University}
Federal Reserve Governors fix Feb. 1, when the 75% margin
-'
The
during the remainder of this year
ton,. and others is quite different from that
York
For
•
during the closing months
by economists, statisticians, the master minds in Washing¬
I am,
Restores Maigin
long continued or more continuous dis¬
been charted for business
highly
qualified
specialists,
is
;//. {
;
faced; with vthe job of; reviewing
of course, fully aware that the countless issues
incorporated
a substantial number of our banks
in some 40,000 claims filed by
ered.at the;MidrWihte#Meetih& this year as well as last year fanearly 20,000 taxpayers, stated Mr.
New York City, Jan. 20, 1947.
(Continued on page 524)
President of the
New York State Bankers, delivDewey
long while past, if ever, has there been more
more
of 1946 and the earlier weeks of 1947.
ernor.
of Mr.
a
cussion of what lies ahead than
City
at * a
meeting of the j
New ; York?
decided
the
relief.
member of the
to make the bill effective immedi¬
ately
as
a quicker disposition of
tax relief claims which are com*
a bill which was intro
by Assemblyman D, Mal-i.
lory Stephens oh Jati. 8. £s Assem
bly Introductory No. 2 of 1947,
which will permit boards of di
rectors to authorize* closing their
respective * -banks on Saturdays
throughout the year. After a great
deal of
Not for
widespread,
expects
duced
•
THE YEAR AHEAD
claimants of
The Excess Profits Tax Council
approved
•of
warns
to prepare their cases s
properly and to be reasonable 1
Ithe widespread favorable re¬
sponse, the. Legislative Committee
j were in favor
EDITORIAL
refunds
of
i
Dept.,
ury
'
months last year, substantial sen¬
timent developed for some kind
of an arrangement which would
;;
were
a
s-
many /;
As We See It
Guy Evans, member of
Excess Profits Council of Treat-j
when the Association first sent the ques¬
with reference to Saturday closing, the
.closed that ai- >
Copy
a
Peter
bill granting banks authority
to close Saturdays throughout year has been introdnced in legisla*
lure and is likely to pass. Urges banks arrange local meetings to
accomplish unified action. Calls attention to "discouraging lack
of uniformity" regarding service charges by banks in state, but
reveals committee studying problem may evolve simple and equit¬
able formula soon to remedy the situation.
In the Spring of 1946
tionnaire to its; members
$1.50
of
Council
President, Grace National Bank, New York City
:
Price
■
:
President, New York State Bankers Association
Mr, Dewey tells New York bankers
Thursday, January 23,1947
New York Stock
/
Exchange During 1946
...........
/
'
scinded effec¬
have only
tive Feb. land
combating
the 75% mar*
gin require¬
Marriner
S[. Eccles
a
minor 'influence in
general inflation, the
Board
nevertheless felt that it
should do what it could to curb
Commodity Prices, Domestic Index.
Weekly. Oarloadings .................
Weekly.Engineering Construction...
Pap'erboard Industry Statistics......
Weekly Lumber Movement..........
THIS SECTION contains a tabulation
522
523
498
523
of every
521
519.
on
Fertilizer, Association Price Index... 498
which inflationary developments brought Weekly Coal and Coke
Output....,. 522
prevail¬ about" by speculative activity,? in Weekly-Steel ^Review;/* A499
ment
then
showing the
high and low prices, by months, for the year 1946
bond and stock in which dealings occurred
the New York Stock
.
Course of prices
Exchange.
See pages 501 to
of Treasury bonds, by months,
throughout 1946, is shown in table on page 520.
Moody's Daily Commodity Index.
500
ed, would be restored. This 75% the stock markets.^ '■&
;•/ I Weekly Crude Oil Production....... 521
requirement,; which / previously
In the intervening year eco¬ Non-Ferrous Metals Market........; 499
went- into:effect on July1945, nomic conditiohs and
Weekly
498
prospects SelectedElectric Output
Income and Balance Sheet : i
represented- an^increase -from a have altered
materially. The sup¬ : Items Class I Railways for June. *382
50% limit which was established
ply of money was reduced during Civil Engineering Construction Dur-v
by the /Board in order to 'curb the year as a
ing 1946^..v....',....A.V*382
result of a substan¬
Hotel Sales in Jmy.A
Av.*382
speculation in exchange securities. tial decrease i of the
government Latest Summary of Copper Sta5
/ The text of the Federal Re¬ debt held
by the banking system.
tistics,
f,-.....
,«*»*383
serve's Governors statement foly
This has had a salutary effect Changes in. Reacquired Stock
Holdings -i.li.-...,v;?sv./;.T.*383
Clearly this policy should be con¬ Gross Earnings of Class I Railroads / ^
?
When the Board increased, mar¬ tinued. By combining continued
in Hovember,.i.:.i».i..*383
gin requirements from / 75 % / to high levels of taxation with pru¬ Cotton Ginnings Prior to Oct. 18...*384
New Capital Issues
100%, effective Jan. 21, 1946, ac¬ dent economy in all government Consumer Credit in Great Britain. *384
Outstanding in
:
?
cumulated and prospective infla¬ expenditures, it will be possible to *:
September
.........*384
tionary / pressures had- reached realize a budgetary surplus which Cottonseed Receipts to Nov. 30....*384
dangerous proportions because of can be used to reduce further the
./♦These items appeared in our issue of
the vast expansion of the court
^(Continued„ on /page -497); c
20, nn pagea indicated;l >• -■> w;
...
.
•
Business and Finance
-
'
.>
,
Speaks
/After the Turn of the Year
-
.
,
The
opinions of
many
of the nation's leading execu¬
during 1947 appear
tives oh the outlook for business
in the First
Section, starting on page 414.
;
_
>
f
■
THE COMMERCIAL- & FINANCIAL CHRONICLE
,"■<
494
-
v..,;'::;,
.-.v
*■
■
j,
Substantial * increase
and
of the
Important objectives;
"Any labor legislation passed by Congress must
be based on the fundamental; principle that it will
protect the right of labor—meaning by labor—the
men and women who work.
If new legislation is
/fair* industry will again operate freely to the bene¬
Chase
indeposits
commercial
of
London branches dur¬
officers
financial
London
in
with
on
X
The fact that
of
developmc uts
in
who have interests in the
Great
often
and
four
and
Panama
San
;.y
one
conditions
ular
Vin
in
iri
cur-i
said:
coun-
during
1946
Vness
was
were
that
should
money
the increase'."
use
of
banks
for
of
commercial
be 'definitely on
" & v: >;-•
!;? It: , was made known by Mr.
Whitney iij his report, that "dur¬
ing the year, the company dis¬
not, posed of its holding of £183,000
Preference Shares, of Morgan
had' 4%
tainable.While
busi¬
active and national in¬
'
the
supplying
been hoped for- Grenfell & Co.
Limited, London,
or believed atat par."'
He further; said, "the
,
Whitney
George
Operations of the Havana
stimulated by the
this
the
clear
is
all
.an
year
"It
f try
prosperous
trade
that part of »thej
with
world.
j
Carib4
reported
Whitney
-
terruptions
Mr.
that conditions
each in Havana
all
these
on
United
and San Juan branches in par lie-,
"The country must go back to operation under
specific laws instead of the present control by Fed¬
eral commission ground rules and interpretation of
In commenting
K
the Isthmus of
successful
and
active
on
Juan,
keeping
,
to the
"In regard to commercial loans,
briefly Mr.
Whitney " said " that' they
general1 showed a substantial rise in 1946
developments! despite the interference of work
of the year." i stoppages and If there; aire nri iri-
busi¬
v
"Our six branched in the
bean area,
legislation must be passed which
will reverse the present trend of forcing small busi¬
nesses into mergers. A brdad baSeofSmall business
is fundamental to healthy commerce.
refer
businessmen,
FA.itish
to
States.
the income of all citizens.
propriate to
interests in England and, con¬
versely,
"Governmental
including the banking business in which the
position, to be of particular
a
ness
governmental ? expenses
be majde now. This will include the abolition
unnecessary bureaus and personnel. ;
applicable
Mopod for BaysBeorgeWhittt^
in
are
assistance to Americans with
reduction
Conditions in U S-in 1946 Not All That Were
commercial and
Britain and, as a result, ate
in
"income taxes mustbe tut and these cuts must
be
our
close touch
fit of all
must
doubling
a
loans at
legislation.
"Therefore, we recommend the following as some
"Drastic
JanliaryJ 23,1947
■
"every business carried-on in the'United States,
company Is engaged
is inescapably affected by the progress of the national economy
ing 1946. Quite apart from their as a
whole," George Whitney, President of J. P. Morgan & Co.
profitable
operations, these
Incorporated, iri his report to the stockholders of the company at the
branches have a special value in
annual meeting on Jan 15, took occasion to state that
"accordingly
building good will for the bank.
it seems ap->N
\
<
< ...
1
Republican Party the responsibility
for sound
of all
banking
^\;• ••
V
is
gratifying' to' the' 'mam*
agement' to -be able to report a
"We^recognizethe fact-, that
trusted ta the
fV'-"<»\ V-r.';
commercial
Sffvices.:
"It
»; V'-
-• *
for
mand
Hear! Hear!
-V....X
•
general
-
Company's remaining investmentin Morgan Grenfell & Co. Limited
consists
of
£250,000
Ordiriary
at
*
high levels, the Shares."
)
]
In his reference to the business
characterized by sharp
"In June of last year a new rep-}
wages arid .prices, much arid operations of the Company
laws. Every citizen of this
resentative's office for the Middle industrial strife; and many malad¬ during 1946, Mr. Whitney nbted
country now
East was opened in Cairo, Egypt; justments.. Some of these condi¬ that "the War Loan deposit of the
by what bureaucrats and courts cnoose to designate
Similar non-banking offices are tions arose inevitably out of read¬ United States Treasury with .the
as their interpretation of Congressional acts."—Re¬
from a war-time Company on December 31, .1946,
maintained by the bank in Mexico justment
publican Chairmen of Twelve Mid-Western States.
(
economy. The most serious were was
$13,286,227, compared with
City and Bombay."
those which brought work stop¬ $186,277,209 on December 31, 1945.
At some points this program is obviously in need
■taj|
MM fl
pages, continued scarcity of goods, Other deposits stood at $561,595,*and liigher costs to all, including 947 on December 31, 1946, com¬
of clarification, but, for otir part, we hope, the Re;
wage-earners. These results, what¬ pared with $529,180,177 on Decem¬
publican Party will give close heed to this group of
ever
the causes, brought many ber 31,
1945. Interest earnings,
its leaders.
|
difficulties to business throughout while at somewhat' increased rates,
While
legislation
to
outlaw the country.- They prevented in¬ produced lower! aggregate totals
portal-to-portal
pay
suits
was creased production of more goods owing to
a smaller
investmerit
coming up for Congressional con* at lower prices, and again demon¬ portfolio in keeping with lower
strated the interdependence of all aggregate deposits. Other earnings
sideration, heads of two A/ F. L,
unions on Jan. 13 expressed the members of the community. As we improved
slightly
because
of
opinion that the claims violated enter the new year, we need to greater activity, but expenses rose
The Chase National Bank of the City of New York handled a1
the basic principles of true* eplri remind ourselves of our common substantially; largely on account
record-breaking volume of business in 1946 as a heavy demand devel¬ lective bargaining. John P. Frey; interests. These lie, not in disput¬ of
higher salaries to an increased
oped for virtually all types of banking service to help speed recon¬ President of the Metal Trades' De-} ing i over the division of the na¬
operating staff.1 Security profitsversion, Wihthrop W. Aldrich, Chairman of the Board, said in hisj partment, called* the suits! $ dis^ tional." ihcpriie, but in joining were substantially lower as h
annual report released for publication on Jan. 16.
The report was honor" to labor-management re¬
together and directing our efforts result of fewer changes in the in¬
mailed ih advance to approximately 91,OQO stdCldiolders of the bahk
lations when such demands for toward growth and development. vestment j
portfolio* than in 1945
in order that
portal-to-portal
pay
were
not
"Disorder arid instability else- and lower security prices."
average rate earned on the bank's taken
they
might
up
at the time contracts
The meeting was presided over
^
also had
receive it pri¬
portfolio of U. S. Government se¬ were made.
! repressive effects on business here by R. C. Leffingwell, Chairman 6f
or
curities last year was 1.07%, com¬
to the an¬
Earl W. Jimerson, President of at home; "and the delay' in our the Executive Committee of the
nual
pared with 1.09% in 1945. The avmeeting
the Amalgamated Meat Cutters] domestic economic recovery,
in company,
who
acted
in
the
Of sharehold¬
j erage rate on all investments arid
advices to the "Wall Street
Jour-f turn,; reduces the effectiveness of . absence of Thomas W. Lamont,
ers to be held
loans
combined' was
1.29% for
nal" from its Washington bureau our country's efforts to assist in' Chairman, who has been on a
on Jan. 28.
1946, compared with 1.26% for
t;
/I fi
K
rl
stated
that
such actionsstruck improving 4 L
vacation in Florida.
these conditions abroad.
1945.
Mr. Aldrich
below the belts" of employers; In his* report Mr/; Whitney in¬
Dividends
paid by the bank
stated
that
Mr. Frey, according to the "Wall dicated that the net earnings of
"'measured
in
during the year represented a. re¬
Street Journal" declared the suits the company for the year ended U S Ends Jap Repatriation
turn of 3.8% on average capital
number
of
Under date of Jan. 8, Associated
are an admission that labor repre-i
December 31, 1946, before special
customers
fundscapital, surplus and un¬
Press advices from Tokyo appear¬
sentatives "had been insincere'! profits,
recoveries and charges,
divided profits) employed during
served and in
and "had held mental reservations were
$3,299,272 -compared with ing in the New York "Times" said:
the year, and net earnings before
volume
of
"The mammoth job of returning
which they were unwilling to dis-j $5,085,127 at the end of 1945; .the
were
rent business
activity.
*;
i
'was
come
year
.
,
..
.
was
rises
,
in
regulated
is
mm
Two AFL
Groups
Criticize Portal Buiis
fildrich Reports Record-Breaking
Of Business Handled by Chase
,
Volume
j
National Bank
.
.
.
*
i
transact i
dividends showed
o ri s
handled,
the
most
on
1946
was
W.
W.
Aldrich
active year in
ended
months
reserve
amounting to
history."
bank's
the
Dec.
the 12
31, last,-the
In
return of 7.1%
cuss
of
Dec.
31,
contingencies
$15,624,000 is car¬
1948.
In addition,
of
same
the
American
Federation
of
A.
portal"
revealed,
160,000,000 unallocated reserves deducted in
representing total pay- arriving at the asset figures, to¬
$110,000,000,000, were han¬ gether with other reserves result¬
by the bank in New York ing from market value of assets
day
of
clearediby the head, office
checks
and New York City
branches
ex¬
:
exceeding book values, are in
cess
of $20,000,000.
This is
ex¬
ex¬
clusive of market appreciation
the bond account,
in
$820,000,000.
Of the total loans of $1,126,; It is also noted, that commer- 462,000 outstanding at the end of
cial letters of credit and other last'year, 75% consisted of com¬
business handled by the foreign mercial loans.. Mr. Aldrich fur¬
ceeded
v
-
department \ increased
sharply
during the year while department¬
ther reports:
"Customers of the bank in every
part of the country, representing
a cross-section of American busi¬
personnel was increased 70%
working space added in
effort to keep pace with the ness
enterprise, are "borrpwfrig
I unusually heavy demands.
funds from the Chase National
The bank reported overall net Bank to meet their
requirements
earnings for 1946 of $2.99 a share, for postwar developments. Care¬
compared with $3.59 a share in ful attention and consideration ire
1945, and Mr. Aldrich indicated given to every application for
that net earnings from current op¬
credit, from small firms as weli as
al
.
and new
,
an
10% rise from from the largest corporations."
$2.36 to $2.59 a share, but a rela¬
Commenting on the bank's over
tively sharp drop in net profits on seas operations
th^.report said! iri
securities more than offset; that part:
erations showed a
gain.
"During the long
operating earnings/from
all sources were' Up 7 % over the
preceding year, according to the
report. The total amount of infterest earned on loans was 18%
greater in 1946 than in 1945, while
aggregate-interest received from
Gross
special profit, re¬
31, 1946 against $5,085,293 on
years of war
branches and
F.
unions from "portal-to^
L.
back
pay
suits
totaling
pending
about $5,000,000,000 now
in
the
courts.
Mr.
Green
(we
in the
*
t» AO
Meanwhile it was reported, Jan.
15, that William Green, President
checks,
dled
nm o o
and
Labor, had moved to withdraw all
City. On one record-breaking
in June the dollar amount
i
after
report
■
am
coveries
cnts of
r
A eri
balance,
for
ried in the statement of condition
as
with employers while seated
rt
at the conference table."
capital funds.
A
„
a
v*
charges
are
shown
report as $3,535,264 on Dec.
date
in
1945.
The
the
special
profits and recoveries, for the year
ended Dec. 31, 1946, less reserves
for related taxes, were $1,567,451,
this
Dec.
comparing with $371,166 on
1945. In his report Mr.
said:
31,
Whitney
quote
from
the
"Wall
Street
Journal"), recommended that all ! '"With regard to special profits,
A. F. L. affiliates get out of the recoveries, /and
charges as set
courts
and
settle
their
portal forth in the above statement, their
claims on management over the relation to the operations of the
bargaining table. Earlier, said the company was not confined parti¬
same advices, a Senate Judiciary cularly to the year . 1946. The spe-t
Subcommittee started hearings on cial profits arid recoveries arose
legislation to outlaw retroactive frOm the; disposal dufing 1946 of
portal pay claims,, Senator Gape* certain assets taken over from the
hart (R. Ind.), told the group that firm of J. P. Morgan & Co. by the
Republican • plans
for reducing company at the time of its incorpersonal income taxes must be de¬ poratiori, from the; retease of the
layed until some way is found to balance remaining in the Prist War
invalidate' the back pay suits. " ! Adjustment Reserve v which had
beeti , built i up during • preceding
ygars by charges fo earnings, arid
Philippine Alien Property J from- the releaseof certain bal¬
President Truman on Jan! 8 ances no longer; considered neces¬
signed an executive order estab¬
sary to cover possible claims.4'
lishing a Philippine Alien Prop¬
in reply to a stockliolder's ques-t
erty Administration. The/Associ*
jion at* the meeting, Mr. Whitney,
ated
Press
reporting this from
itX was stated iri the New York
k
Washington, added:
to Japan the Japanese who ranged
far over the Pacific's reaches in
their
for
bid
wound
in
up
empire has been
all sectors under
United States control.
•
"Allied Headquarters announced
Japanese had
repatriated since the war's
Philippines, Hawaii,
the Ryukyus, South Korea, tl^e
Marianas,
Gilberts, Bonins arid
today that 922,570
been
end from the
Marshalls.
-
f
.
included 3,411
returned
Hawaii, 132,303 from ';the
Philippines, 130,795 from western
Pacific islands, i 64,396 from the
"These
from
Ryukyus and 591,665 from South¬
Korea.
ern
There
still
are
120
Japanese in the Marianas and 649
In the Philippines—all held in
conriectiori With - war crimes*
"Headquarters also announced
repatriation of 28,578 Ryukyu natives; 12,907 Formosans, 7,703
Chinese arid 19,001 South
.
the
Koreans*"^ ;
;
l,i'"
*
--
^
-
"I
"
-
V
1
To Redeem Uruguay Bonds
The National City Bank of New
York, as paying agent, is notify¬
ing holders of Republic of Uru¬
guay
4%,'.41/4% and 4V2% Extef-
nal: Readjustment Sinking! Fupd
^Suri"!'!of;:JmiX;:l6ff:saidXlhat'
The order calls' for the appoint!
Dollar Bonds of 1937 Dhe Feb. 1,
the six branches in the Caribbean
present hC could see ho 'material
hardehirig' of interest rates in 1978, that through; operation 6f
area became closely, geared to the ntent by the President of a Philips
the sinking fund $50,500 principal
special needs of American military -pine Alien! Property Administra* 1947;! He added that there is a
our
three
London
organizations and the members of
our
armed
forces.
With
the
de
tor who will take
.
over. from
the
^light^ trend toward higher rates
amount of these bonds have been
drawn
by lot for
redemption On
.termmoney' market FebXl, 1947 at 100% of the; prin¬
parture of these forces there was a
ministration and
investments was 2% less.
Earn¬
disposition of; iut did hot expect, it .to affect cipal thereof!; The drawn bonds
of
ustment
period pf readjustment to the new ^istration and disposition
pew
ings from commissions, fiduciary conditions of the postwar world, | enemy (chiefly Japanese):;in .the substahtiallyi.the"long Herni; mar^
;he
followed by-a
ket!'4 The lame paper said:'^
|lees) etc* were* 25 % higher^ The
of ithe paying agerit^
'f // , -.
;
.
...
.
.
*
«.
.
Alien Property Custodian the ad* in/the.short
'V
!
v
-
:
'
:
.
A •'
.
:
■
.'v..;
-'V; v;'v:
.
(
mmm&SSi
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'
I
:
''IMS
v'1'
(m
MMERCIAL «FINANCIAL.CHRONICLE
by the Annual Assay.
ion,r A* explained by Mr,
„
.Howard
to
the "Ctoonicle/L-at
present ohe piefce out of eYery two
thousand silver coins minted is
reserved
for
amendment
witting
if
served.
have it
s
such thing,
r
What h?d happened^ was.
corre-
youngish
fellow fwho
works, for a reputedly conserve
ative
Detroit
paper,
but, ' who
among his colleagues is consid¬
ered anything
but, conservative
had,
Nourse, Chairman of the Presi-r
dent's socalied Economic Advis^
ory Committee, and asked him if
he were against high
prices./ The
dent,
is
ightened
p on
i
r
b o u t
the
Economists.
fi
As
against
those
dis¬
turbed
c
z e
who
n
s
wake
it i-
in
up
the
ry
about
festly
Carlisle Dargeroo
ing
wheth-
another
er
answer
morning
wo r
,
<•
,
nation has
the bomb,
While
so
many are
about the atomic bomb,
lows have
tate
,
worrying
these fel¬
to attain
come
whereby
sade
they
an
sell
can
coins
All
bomb would be
creases
three
in
imore
cru¬
mass -
the other automo¬
chosen
are
of
these
in
to
conformity
production
ciency
and
any .-way
with
methods.
Carloadings
a bombshell, but it
commentary on your corre¬
spondent that he fears the bomb¬
a
shells
I have
more.
come
in mortal fear of the
men
I
to live
who
can
drop them.
>
On
had
Sunday morning, for
on
the
front
pages
con¬
But
was
automobile
duce prices or
industry,
explain why.
some
such
either had to
a
something
that
as
down
come
of
or
(Continued
on
in
to
/
;
the
/
introduced recently call for modification of existing statutes affecting Mint operations.
These bills, introduced at the request of the
Bureau of the Mint, were offered during the last.
Congress, but
reached the hearings stage.
«
never
|
According to Mr. Leland Howard, Acting Director of the Mint,
•
provision would increase the
deviation allowed from the stand-' tolerance in the
larger size coins.
iard fineness of silver coins from The present weigh! .tolerance is
■one
1003 to .006. Silver coins
are man¬
1 Mt
.grains for all denominations
and in the cooling of the alloy, the
tends to segregate in the
-center of the ingot so that the cen¬
dime.
ter is richer in silver content than
terially reduce the number of half
sufficient for the half-dollar which
five times the
is
weight of the
This legislation would
mar
the rest of the ingot* and when it
and quarter dollar blanks rejected
is rolled to the thickness of
fbr failnra to
a
coin
.
j
.
each
strip, thus increasing the
number of blanks produced in one
punching
G.
melt.
/They will ;mearf that
Aue
coin may be ^richer Or
leaner- in
silver by .006 instead of/Q03. • The
Hanover
Bank
.
'
To Increase Weight Tplerance
3r
-*
■■
A
./*,*'•'
**
r
>
■' A
i;' Another ^provision,
'
v1""
Mr. Howard
states, would increase the weight
v-
f.\-
°The
and from 85
•
.
level. The
New York
.' ':
Si,:
like
while
to
now
proposed by Congress. The
Age," national metalwork-
"Iron
ing paper reports in its summary
of the steel trade the
past week.
In their endeavor to reach a*
mutually satisfactory agreement
has sprung the "hope" that there
more
than
2% to 4,530,900
4,648,750 rbarrels.
from
.
and trucks in the
cars
will be
this
on
nationwide steel strike
no
No such frame of mind
year.
the
labor
part
was
of
management
strong
so
a
year
or
ago
when
the mills were shut down*
and the country
subsequently suf¬
fered a loss of 16 million tons of
with' a revised figure of
64,828 units for the week previous
early
will make
try
basis/for
along - with
2,295 trucks
in
ald Tribune" of Jan. 9 in indicat¬
January
ing this also had the following to
say regarding Mr. Gray's* report:
2,600 the
cars ;
and
Dominion.
last week,
Salaries
Corp.
695 trucks turned out in this coun¬
"Her¬
appear
production forecasts of
Ward's states, do now
possible of accomplish¬
and
in
the
negotiations
moderate
a
offer
bargaining.
It
as
is
a
also
likely that the initial concession
offered by
the
company
will be
than a few cents an hour,
whereas the union will probably
counter
with
a
much
higher
no more
general operating ment.
still farther ip
Production of farm machinery
1947, he declared, and unless op¬ continued to reflect a
steady in¬
erating £ income
advances - com- crease. Back orders for box cars
mensurately, results for 1947 will rose, but
output was unable to
be below earnings for 1946. keep
abreast,
of
replacement
Total operating, income last year
needs. For the week ended Janu¬
magazine notes.
was
$23,933,653, a drop of over
$900,000 below 1945. Interest and
able
terest and dividends
and
on
50%
securities
in
the week
Operating
On
•
expenses
were
$15;-
orders
by
Monday of the current week
settled
5.2
market
cents
with
in.
the
an
un¬
official
price quoted by Handy & Harman
at 70% cents an ounce. Monday's
drop followed a cumulative de¬
'tiliiib' in :wages and general
expense. This: was due to a de¬
cline in taxes from $5,256,000 in
1945 to
take each other's measure as tp.
how far each is willing to go, the
cline of about six cents last week.
On
$3,798,000 in 1946.
the
ment
_
Net
operating earnings were
$8,439,297 or 8.5% below $9,229,842 reported for 1945.
Net profit
The steel companies' most prob¬
arguments in the negotia¬
tions will
revolve around
high
material costs, increased freight
rates, higher unit wage costs and
the
extremely high
breakeven
which the industry now
point
silver broke
>
and
62%.
$492,000 in commissions, fees
and other income.
figure. The real bargaining will
probably not get under way for
several days or until both sides
*
4, lumber production climbed
but was more than
18% higher than that of the corre¬
sponding week a year ago. Ship¬
ments
increased by more than
ary
almost; 11%;
discount on loans rose
sharply by
$1,364,545 to $7,196,087, but this
was more than offet by declines
of approximately $1,906,953 in in¬
day
same
an
announce¬
by the New York Central
Railroad disclosed that it had laid
off almost.
.7,000; maintenance em¬
ployees as part of a general econ¬
omy move. Terming the step more
drastic' than
that, of .making a
seasonal
faces.
Some steel
sources
content^
that the steel industry must oper¬
ate between 75. and 80% of capa¬
city in order to make any profit
all, the/'Iron Age" states.
//
Recent
price
increases
are
claimed by the industry to have
been necessary to take care of
accrued steelmaking costs exclu¬
at
sive
of
Some
any
new
increase.
wage
independent
observers,
however, believe that the indus¬
try's
price
structure
is
now
in
such good
shape that steel leader?
a better bargaining posW
tion on the question of wage ad¬
vances than they have been since
are
in
curtailment, an official
explained tte action
by stating "on the biggest peace¬
before the war. It is safe to say,
time.business in its. history the
the magazine adds, that any un¬
railroad lost money in 1946." De¬
usual high wage demand will be
spite the freight rate boosts which
flatly rejected, since there is no
became effective on Jan. I, he ob¬
disposition on the part of steel
served that the road is not likely
leaders to
advance
prices any
to balance its books if it does not
more
than has been done during
sharply cut expenses.
-'J- the past 30 days.
f Concluding, he said,.. "The road
Steel labor's bargaining
posi¬
aha!>ojner slight, increases in tales is trying to cut back to the same tion has
changed somewhat from
oft commercial loans was evident force
it had in
1942, when it a year ago, since living costs now
during the period. /
handled approximately the same appear to have
passed their peak
Average maturity of the bank's amount of traffic," / /..;// ••///;/-. and the trend is expected to be
•
;!
is
/'
*
too,
substantial
a
would
strike, the result of
sharply upward
102%, respectively,
increase
and nine months
to final
matur-
of the. road
.,
,
There
was
a
moderate rise, in
retail volume in the past week, it
was
however, considerably above
that of the corresponding week a
downward
over
the
The
for
food
and
balance of the
American
Iron
Institute announced
clothing
year.
and Steel
on Monday of
ity. Approximately^57.7% of these yea! ago. Consumers generally this week the operating rate of
investments were callable in lessj were critical of quality and.com- steel companies having 94% of the
would
reduce; the number than- five years, an^ ?4.4% ,were I pared.prices carefully before com- steel capacity of the industry will >
^teqtiiired
due
period. * -1
" pleting purchases. Clearance sales : / (Continued on page 522)
>
coinage
Mint
.
labor
which might be far more stringent
controls over labor unions than
pared
&
A
„
Steel
ob¬
tain this concession without resort
to a national
cars
and Canada accord¬
ing to Ward's Automotive Reports,
1 remained at a lowlevel last
week,
! with
77,034 "units turned out, "com¬
Gray Jr. President
Central
operation by at least
50% and permitting the use of a variations
over- and /
under in
larger uniform ingot, saving in the weight wil cancel oqt/ ,.\//.. r // holdings. of government obliga¬
was
***"
l"' /
tour
tions was four years and six
number of V ingots manufactured
Vl
/jA -1'
*
A
""
months to call date and six years
Number of Coins to Be Reduced
and stored.,
i. .%
.
687,428
previous. " Paper^ and
■ production
in • the
week moved
Output of
the'center of the resulting strip is weight
tolerapce;,^ Aaavteg wphld on securities showed a
decline of
similarly richer in silver content. result nofopiyipc
&>^e<^oft. with almost 47% in 1946 when it to¬
Therefore, the.width of the strip the original manufacture hut also
taled $1,605,2.79 as Compared to
can only be sufficient to permit
in
the
remelting, rolling./and
$3,019,810 in 1945. Earnings in¬
the punching of two coins or. they punching of the.
blank?, Due to the
cluding profits on securities were
will be over or under the legal present /small ;
weight" tolerance, $10,044,576 or
$9.50 a share, against
limit/-.
approximately .10%: of v the/half
$12,249,652 or $11.67 a share in
If more were punched, those dollar blanks and 5% „of
the. quar¬ •the
previous year.
punched, from the center of the ter dollar blanks have to be re¬
/ Mr. Gray disclosed that* the
strip will have too much silver jected, / ;/ ; y / ••':
,/;*//;///;/,•
rand those on the outside will have
declte in loan?;' in
.These changes will
^noii^Efect
too little silver., If this limit is in¬ the. amount
q£; silver'-tha! will be 1946 was -more than accounted, for
creased, three, or more blanks used, ..as the .same ashpunt: will be fcy losses in loans to brokers and
dealers on securities. He also said
could be punched from the width charged into the furnace in
the
from
jUnited States
554,356, which was slightly lower
alloys of 900 parts of silver coins,, and while this is fhah jn 4he preyious year, despite
silver and 10Q parts of copper, sufficient for the
dime, it is. not
silver
<of
week
'barrels
ufactured from
of
vestment.
approximately! 21 %
•
;
WASHINGTON, Jan. 22 (Special to the "Chronicle")—Two bills
-
freight
53,444-cars and 18,-
1945
reserved for trial.
quality,
before
Daily average crude oil produc¬
tion, however, declined in the
operating costs, particularly
salaries, which increased over the
production prompts desire for simplification of statutes//r
Mint sponsoring two bills to increase deviation of silver
coins, in-;.
crease weight tolerance in
larger coins, and reduce number of coins V
revenue
from 96.3 to 104.6%
in
Mass
dates
cities
buyers
"
page 498)
Mint Finds Present Coinage Laws
Burdensome
but
Company of New York in 'In the similar week a year ago,
his report to the stockholders at
28,465 units were completed while irjgot? because of the steel and'
the
annual
;
meeting on Jan. 9 124,025 were built in the compar¬ fcoal strikes. 4
noted
that
the
year
1946 was able period of 1941. Last week's
It is likely that the U. S. Steel
marked by substantial increases ! total includes
wages
industry
as
a
whole should either bring
prices down or explain why. This,
On
many
check
and* delivery
ago.
placing orders.
Trust
go up, and that the auto
re¬
price
to
the
of
year
week
William
very
of
cars
paperboard
it
prices
830,945
same
Operating Earns.
Of/Geiilral Haiioverin
quoted in ef¬
was
that
a
attended
wage
the
They
Nei
particularly concerned
careful
aggressively seeking
to
1947
substance, to the effect
profound,
demand by the White House that
General
Motors, - Chrysler,
the
v/hole
not
that Dr. Nourse
fect
as
saying
exam¬
ple, I awakened to a peaceful
templation of a golf game.
there
am
about the reporter's enterprise.
What is important is that
well
were
January >11,
disturbing the integrity
'
were
business
many
in¬
with steel production up
from 89.7% of capacity
previous week.
Electric
the
above
week
shows-in
Wholesale
also advanced in the week ended
manufacturing effi¬
of the coinage.1
recorded
well
corresponding
Steel Industry — Steel officials
output jumped 6%. the see ahead the chance to
keep op-,
past week,:while bituminous:coal erations at peak levels for
many:
production soared nearly 21% to, months without a strike and thus
a new post-war
high from/ll,/ realize what they consider to be
350,000 tons to 13,700,000 tons. a reasonable profit on their in¬
at
the
economy. without
weekly
mained
kilowatt
provisions
amendments
will increase
Washington "Post," the result
being that the story was picked
up by the press services and given
countrywide circulation. '
vastating than
is
respect
to 91.2%
designed to bring these- acts
are
the
de¬
more
this
latest
barometers
A
be
.
atomic
better in
The
basic Mint act of Feb. 12, 1873 and
black sheet of his story to'
a
coins from every
thus keeps a con¬
.
taken
constitute
em¬
i>!!:
has<S>
——
than attracted many shoppers and fur~
that of durable goods. Its
progress ther/price reductions were re¬
has been greater in
meeting the ported in numerous lines. Many
: deferred needs of the
country, but new charge accounts were opened..
from all reports, current demand
Wholesale volume increased ap¬
for durables is tremendous and if
preciably in the week and re¬
tests
random.
that question is mani¬
make
shipped
are
just, as effective in keeping coin¬
age standards at ,a high level since
the
manufacturers - reduce prices
along with Henry Ford. 'The re¬
porter was enterprising enough to
drop
Undoubtedly
an
bombshells.
to
coins
stant ' check* upon the
coinage.
lesser' number of coins will
bile
es¬
Mint
delivery and
yes.
ington in recent years, had
barked upon a single-handed
economist may say.
some
to
the
This reportorial gentleman who
has pulled a lot of tricks in Wash¬
wake up worried about what
we
thgt* a-
fabulous
however,
...
output
coins ~in February of the follow¬
ing calendar year;; As a matter* of
fact, these are then spot selected
by thd Assay Commission arkb ap¬ such continues to be the case the
proximately 200 are actually test¬ likelihood of a genera! depression
ed. The Assayer of the Bureau of is remote.
;
'
,
;any
'
now.
Your
■
These
fared
to the .Philadelphia Mint
and must
be held until the annual trial of
reading I realized that not
exactly the White ftoose- had dope
them
•
,
closer
let them
we
A, slight increase occurred in over-all industrial
production the
past week with current output in many industries
very close to 1946
peak levels. Difficulty in obtaining additional stocks
of raw materials;
was
frequently reported to be a deterrent factor in increasing pro—
During the calendar year 1945 al¬ duction schedules.
most 200,000 silver pieces were re-, Non-durable
goods
..
out¬
the
this lawj by the Act of
1873, only
pieces had to be reserved.
are
not let any other nation have
it, and on the other hand, by men who
insist these other nations will
get it some day, end- therefore; we vftU/
for some rea- /
<<'•>.
—*—*—■ .■■■-:
•.
?
r-,r.-
be
The
5,800
old, are frightened
activity in the only coun¬
try in the world which has it, is tremendous,
Careers are being
made by men who take the stand on the
one hand, that we should
son,
trial.
reduce
number to one 'in every 10,000, In
the year preceding the adoption of
By CARLISLE BARGERON
Millions of people all over the world, we
these days about the atomic
bomb* and the
such
would
third
laws
amendment
requested
^
to
<
the
by
the
■
'
...
•'
:'\r f* v / ' -A .'Ail >.'1 "■!,
A;-',
:
THE COMMKRCIAL 4
ICLE v
FINANCIAL C!
\ ■<;-*'
>•■
■
v2M$
Thursday,: jatiuary - 23, 1947 "
•='
L—«
■
.I'm't.
..
..Ia '-~
.
.'
•■-
i^-i..
...Jit-
" **
*»
A
»-<;>»•*. .V ■»«"/
3&:
I'-a
■
i'
»-
,441',1* it-*-
..■:|jil*^i»fv»w.
U&V
,
>'« V »»>■!■':■'.';, fet'^ «V
A» *» ?• ^
>* *»*'#!•«.
-.:>'«^?'*-3®fir'^*4'**^'
message has thfown down the
gauntlet first as to reduction
of taxes without first reduc¬
(Continuedfr&m first'page)%~^-3:&*'/-:.
i ing expenditures, and, second,
plane or level of living exist¬ as to finding any place at
Important Assumptions
•iis
ing or possible now at cur¬ y^hich expenditures can be re¬
ejtMany of those who are now; rent wages with that six duced sufficiently to leave
j
''|'|t r "
,
«
telling us what is in store for months or a year ago. But
the remainder of the year, these
aspects of the situation
predicate their forecast upon have not been adequately set
assumption about the
labor controversies now in
some
about to get under
Others indicate that
process or
way.
their forecasts rest upon
j§|
conclusion
that
this
about
Without much, ques¬
ijiem.
tion, even those who come
forward
with • unequivocal
room
for substantial tax re¬
ductions. And the Republican
party—though not Senator
fbrth • hi current?! discussions,
Byrd—seems to be hesitating
and they are* moreover, sub- if not
wincing, relenting and
3 ects not particularly easy to refraining! ,i..
"get across" to the uninitiated.
It is time that the people
Nor is there anything to be
came to grips with these mat¬
gained by trying to gloss over ters and let their wants and
the fact—again on the as¬
wishes be known.
Whether
sumption that official figures
they do so promptly and
or
estimates are to be ac
whether their demands are
.
prognostications'Ka Ve^ consid¬ cepted — that profits were
essentially sound and wise
ered these problems and, have
good during the last quarter will in
substantial de¬
gree determine our economic
Satisfactory, to themselves ning at rather extraordinarily welfare for a
good while to
about: their probable' course,
high levels at the present come—and that regardless of
arrived
i
lyhat
':
at
some
thqsejw^ thq^
moment on the average.
Employ:
Of
io'foresee; \wiiereuthese> ton?
jrilefely - guesses by - ohe
troversies. #rei likely to; lead
or
im6fe;tediViduals:inWashingu$ hrrieaveaisi1; Aridvs whatrib
| ton;: .They could be nothing
as :im^£t
[else; Bforeover^ - there <" uh-f
:
importaiit^^
:dbubtediy is: now as always a
•
-
-.
what
^
'
'■■■' '
Jj i *
'l
''uj
Foreign loan disbursements by the United States Government
in the fiscal year ending June 30, 1947, will probably total $2.6 billion,
about five times the volume of such disbursements in fiscal year 1946,
the Department of Commerce said on Dec. 23. In fiscal year 1947
there will probably ,be a; reversal of the relative importance of the
two main types of government foreign transactions—the supplying
goods and services and the<^———
supplying of dollars, said the De¬ sales abroad and repayments on
foreign loans and credits will not
partment, which went on to say:
of
"During fiscal year 1946 the
important Governmental ac¬
most
tivity in the foreign field consisted
of $3.6 billion in goods and serv¬
ices directly supplied
either on
available
through
and loan
chiefly
commodity ' purchases,
fiscal
year
U. S. Would Return
Dairen to China Rule
^
,
•
M
.i
:
1947 it is esti¬
mated that the United States Gov¬
ernment will supply
tries $4
billion in
foreign
coun¬
dollars
and
goods worth $2.8 billiop, ,Uttdis*
bursed; loan commitments are also
.
i
ii
■
-
-
< :
President Tru¬
man recalled General Marshall jto
Washington from China, ;it was
Shortly
disbursements.
"In
year
a
gift or grant basis or on credit
terms, and of lesser importance
was
the $2.9 billion in dollars
made
greatly from the 1946 fiscal
levels. As a result, it seems
likely that dollar receipts will
again approximate $1.1 billion."
vary
before
announced that the United
States
had
requested China and Russia
to live up to their agreement of
Aug. 14, 1945, Which would endl
promptly Soviet military control
Of Dairen, Manchuria, and open it to world traffic, as a free port
"In addition to loans, an impor¬
under Chinese administration, ac¬
tant source of dollars to foreigh
cording to a Washington Associ¬
countries
arises
from
Govern- ated Press
dispatch Jan;'6.
The
mentat expenditures for commodi¬ United States
wS^s to See Dakeni
might> happen over a 'expected to increase by about $1.9
?e- short period despite failure in billion in fiscal year 1947.
are
[course; "official: figures"
iikely^tb Iwerfook:biS^ theidu^ jlatingrtp So recent a period as
bjoiisnes^of ^anyone!s^ ability thedast:quari^
.
very
conclusion of 1946 and that they are run¬
U.$,F««sn loai DisbnisMwrislikeh
To Reack $2.6 Billion for Year Ming Jane 'fl
these matters.
•
R. W. Hill Dead
.
Secre¬ ties :Qyerseas,vparticdlarlx rubber, f reopened- to^American business, :
tary of the American Institute of sugar arid tiii. An indicated drop .The: "State •
Banking, died at- his; home- in from^^shillibn;ih fbi^gri;dis^ nouncement was the first intima¬
Larchmont, N. Y., on Jan. 10. Mr. bursements for goods and services tion .of official ebtionbyihis gov*
! Wide variation:, among busir Hill was actively identified with httee"1946?^fiscal;year: to :$1.2 bil^ ernment following the refusal of
* a. :;year^sai;.u^
idhe jness enterprises as respect the American Institute of Bank- lion in the 1947 fiscal year reflects Russian authorities at. Dairen on
; ing over a period of 24 years and both reduced military outlays and
Dec. 20, to ;alloWu three Abaerican
: reahn^oidaborJ relations:." ;
ipfbfits. V But there can be no : with, the Americaii'Banker^i Asso¬ a curtailed foreign procurement civilians to land there, and their
So far the unions: have not
program.
insistance that; the United States
iquestion that profits, by and ciation 28 years. He joined the
"Payments to the International naval vessel which Itook the civil¬
shownUnublr:diaposition;tO;W llarge, in American' industry Institute as Assistant Educational
Balnk and;' t h e In tern a tional Fund ians to the port must leave in
reasonable Jih alT this/To
ihave of late been md are; tor i Director in 1916 arid became; Sec4
retary in 1919, which, position he, are made as calls are received twenty minutes.;: ;
: r :
everlasting credit, the Amer?. jday excellent,.arid;that fact ; held:- until 1940/ Because of his from the two institutions. The en¬
Under date of Jan. 6 the State
outstanding record made in the tire $2,750 million United States
Iteration
gives the unions a
Department at Washington made
vers >have'scorned: the, portals [advantage in any "battle of AIB, he"was given the post of subscription to the International
public as follows :the substance of
registrar of The Graduate School Fund, less 5% already paid, will a note delivered by the American
to-portal 'grab^which is- now [statistics" over their claims
of Banking when it was-* estab¬ be disbursed during the 1947 fiscal
Embassy at ^Moscow on Jan.; 3,
'for higher Wages.
lished in 1935; Plans for the busi¬ year, although, largely in nott- 1947 to the Soviet
;
Foreign Office;
but :;bqth
ness side of the schOOTwere placed pegptiable;
hbh-iftte^
a similar note was also delivered
j/i
Claims Improved;
y> in his hands.vThe: srpooth opera¬ demand notes. This would raise
wings;of .organized riabor are
by
the American Embassy - at
insistihg^that';-'further. -in¬ J Of course, none of these tion of this school, now grown to a total Bretton Woods payments for Nanking to the Chinese Foreign
student^ body ^of almost«900,' the the year to $3.2 billion, complet¬
Office.
statistical 4<facts" proves, even
creases; in, swages
housing of the men, the class¬ ing the contemplated $3,385 mil¬
"The
American
Government
investment by the United
^de :tb effset^the^rise in the tends :te Jjrov^
room and dining facilities, the ef¬ lion
considers it desirable that the cur¬
ficient
States, " The ;bnlY remaining lia¬
operation of the school
,
epst t>f liwng,: and both dftsist ihigbef^wages. The trouble is
rent unsatisfactory situation with
that .'such. grants, be made I that
to the popular toted schedules; ahd; the f year-round bility would be the $2,540 million regard to the status and control of
contact1 with' the
students are (80%) of the United States sub¬
the port of Dairen be promptlyI without increase- in * prices to theyare very likely to give
largely ctedited.to his genius, for scription to the Bank not required considered
:
by the Chinese and
the. consumer-. iWhat is more, thO /im^ession that tl^ey ^, |
organization anduadministration.) to be paid except in event of Soviet Governments-with a View
they have, set forth their, case &dt)genefal ^acc^tauce iibf i In November, 1937, Mr><Hill added losses/;
'
to the implementation of the per¬
"Lend-lease
is
not
expected
in a manner likely to catch sUch a -doetrinei at this time to his 'other duties- those of "the
tinent provisions of the SovietSecretary of the American Bank¬ to be a factor in goods supplied Chinese
agreement of Aug. 14,
ithe eye of the iraidc:and iile«--t could very well lay the basis ers Association. In view of the in¬ as
gifts or grants during fiscal
lassumihg: that past - abuses for an uncomfortable reverse creasing pressure of his duties year 1947, and relief supplies will 1945, in regard to Dairen. This
Government perceives no reason
have not created an atmos¬ possibly within the twelve upon him, he was permitted to lay therefore constitute the entire to¬
why there should be further de¬
phere hostile to any claims of months to which most fore¬ aside his AIB responsibilities in tal in the gifts-or-grants category. lay in reopening the port, under
1940. At the commencement exer¬ Deliveries of some relief goods on
Chinese administration, to inter¬
casts relate.
It is therefore
organized labor. The argu¬
cises of The Graduate School of old contracts will continue even
national
commerce
as
contem¬
ments have been permitted to
quite possible that we shall Banking in 1942, Rutgers Univer¬ after Jan. 1, 1947, and the 1947
in
the
aforementioned
become too largely a "battle have to pay through the nose sity Conferred the honorary de¬ fiscal year total is now indicated plated
agreement.
of statistics" in which — if at some time in the future— gree of Master of Arts on Richard at $1.8 billion. The United States
"The Government of the United
W. Hill in recognition of his con-, Government commitment to
official indicators are; to be whether
during the next
States, while fully appreciating
tributions to adult education. Be¬ UNRRA on June 30, 1946, ex¬
accepted, as the public gener¬ twelve months or not—for cause of his interest in adult edu¬ ceeded by some $1.4 billion the that this is a matter for direct
ally is very likely to do—the not making it indisputably cation and his services to The amount of relief reported as fur¬ negotiation between the Chinese
and
Soviet Governments,
feels
unions have an edge.
clear that a channeling off of Graduate School of Banking dur¬ nished through the same date.
that it has a responsibility; to
War Department civilian supplies
the gains in productivity to ing the first decade of its exist¬
American interests in" general to
ence; the Board of Regents of the furnished to the occupied areas,
Facts to Be Faced
any limited group in the pop¬ school established in 1944 in his Germany/ Austria and Japan, are raise the question with the two
We should be very unwist ulation such as organized la¬ name the «"R i chard W. Hill likely-to be maintained in large directly interested Governments.
It hopes that the abnormal con¬
volume for fiscal year 1947.
rto bliiik or to try to evade the bor (particularly - when that Award," to be made annually to
ditions now prevailing at Dairei*
the active bank; officer, in each
"poods tq be supplied on credit
;simplerfact that according to group has had little or noth¬ graduating class who at the time will include most of the lend-lease may be terminated' at' an early
date and that ttbrmal conditions
official indexes the cost; of ing to do with the gains) is of his
graduation was the oldest pipeline of $240 million remaining
unsound- as well as unfair, member of- the class. Upon the unshipped on June 30, 1946. De¬ may be established Which will
Jiving has risen, sufficiently
permit American citizens tu visit
to wipe .out most of the "war and certain at one time or an¬ unanimous request of the grad¬ liveries of surplus property to bo and reside at Dairen in pursuit of
uating class^^of 194J5; he was the disposed of On credit are esti- their
legitimate Activities.
; ' \\K ~
gains" of . the wage earners^ other to inflict economic pen¬ commencement speaker at The m ated at more than $500 million.
In the foregoing connection 'this
True,; of course, that most if alties. 1 \ \ <
Graduate School of Banking com¬ Merchant ships sold on credit
On the other front under mencement exercises at Rutgers terms may account for another Government also wishes to exnot all of the increase during
These foreseeable press the hope that agreement
ithe past six: months has been discussion — that -anchored" University on June 29 of that year. $200 million,
can be reached soon for the re¬
'"statistical" rather than real in Washington—the situation Since his retirement Mr.-Hill has transactions add up roundly to $1
been engaged in the writing of a billion which, with indicated re¬ sumption of traffic on the Chinese
^rthat is to say, prices en¬ is less promising than it was history of the American Institute lief of $1.8 billion, yields a total Changchun Railway, /;
tering into the index now are a month or so ago, or at least of Banking, which he completed of $2.8 billion for all goods to be h "It is believed that prompt Im¬
provided, during fiscal year 1947 plementation of -the agreements
largely market prices while so it seems to us. Hopes which three days before his death.
with regard to Dairen and the
He practiced law iit New York as gifts or grants or on credit.
quotations during the days of had been built up that certain
railway would constitute a major
"Prospiects for dollar receiots in
-the" OPA - were in very sub¬ Democrats like Senator Byrd City for 12 years. In addition to
contribution to the reestablishbeing a lawyer,: he was also a the year ending June 30, 1947, re¬
ment of normal conditions in the
stantial degree merely "offi¬ and many if not most of the
certified public accountant. For flect conflicting tendencies. Direct
cial prices," and as such far Republican majority in Con¬ two years, 1905-1906, he Was asso¬ sales of commodities like wheat Far East and the revival of gen¬
erally beneficial commercial ac¬
below the real market so; far gress would go promptly to ciated with the Examining Divi¬ and tobacco by Government agen¬
tivity. This Government therefore
work to prune the budget sion of the New York City Mu¬ cies will decline sharply after Jan. would be glad to have the assur¬
as there was any real market
1, 1947.
On the other hand, cash
for many essential commod¬ with vigor and audacity do nicipal Civil Service Commission;
ance
of the Chinese and Soviet
proceeds from merchant ship sales
ities.; True, also, much other not seem to be supported by and for three: years, 1914-1J16,- he prior to June 30, 1947, should be Governments that all necessarysteps, to this end will be taken ia
than this, index .needs to be the most. recent dispatches. yvas Secretary, of the.. Bpropgh of • sizable. Other items such as cash
Richard W. Hill, national
produciivi^
~
ifan
v
;
lebd^
of
'
distinct
<
f
;.miist ;be
.
,
.
considered in
^
comparing the The President in his budget
the Bronx ih New York City.-
proceeds
from /Surplus*
property
the hear future."
-
•- >
"Volume 165- Nujnber::4562.
:THB G0MMERCIAI/ & FINANCIAL
•
CHROklCLt
imSm
Year19460ie of Biisiesl for National City Bank
0 rifts-
/Jr/dp
Jdonal
/ ,,,•.„
qften-discussed1 aretwbod pulp
^hd
-caustic JsodaiW
v/As /to the A946> ftgures/
dh&£hnulkd^/tp/the/stbckHpid^
City Bank of New
-
(Continued from first page).....
>
Vice-Chairman of the
Board, and Wni. Gage Brady, Jr^ President,
the report said:-'
notes
t i
o p e r a
o
yidiethetincuyreri^
nf "
tal
foreign
credits, or bond transac¬
tions made new
records/ Thus the
Bank reflected the
country's high¬
company,demobilization,!
renewed evidence of
record
in "1939.
more than $40,000,000.
"For the Bank alone, net cur¬
rent operating earnings were
$17,573,826, compared with; $16,393,098
acr
m
Itwas
amounted to
*
.
v.
lower
government
government
cur¬
operating/ earnings for; the
year
amounted
to
$1,227,199,
compared with $601,572 in 1945."
holdings in
our
own
as
well
According
combined
to
net
the
report
recognition
and
costs
as
of
higher
individual
do
not
were
7
include
transferred to reserves."
The
report
also
stated
abilities."
tential
10, from which
pany for the year, the same rate
as for the second half
of 1945. The
Trust
part
Company paid $620,000 of
rayon
In the "Wall Street Journal"
of
15,
ported
Mr.
as
The
this amount."
Jan.
the Bureau's advices
Rentschler
was
we
on
production
from
come
silk
the
"His comment was in answer
to
stockholder's suggestion that the
dividend be increased
pacity
the increased
on
"The stockholder's
are
was
to
caoitalize a part of the bank's $40
million of unallocated reserves.
Mr.
Rentschler
the
and
*
total
sales made
to
and
says
A,, ''•-///
excess
in December of
129,9
in
January
1946.
to
the
'
of/a
:
Maximum Loan Value for Gen¬
Accounts -- The maximum
loan value of * a; registered secure
eral
ity (other'than
an exempted .se¬
curity) in a general account/ sufer
ject; to section 3 of Regulation %
behavior
shall be 25%
of its current m&r~
risen
continued
to rise somewhat fur¬
ther after that
time,
-Maximum
,
LoanValu^for $pe?
Accounts-rl'.He ^aximiori
cialists'
subsequently
declined materially. The level
is about the same as that
loan Vvalud of
a registered securv
ity (other- than - an exempted use/
now
existing
curity) in a specialist's account,
subject to section 4(p) of
Regula¬
tion T, shall be 50 % of its current
tenders for $1,300,000,000 or there¬
stock
market value.
about of
tially reduced until that used for
carrying listed
securities
is
at
about the lowest level in the last
announced
of
extension
be
when
increased
Secretary of the Treasury
Jan.
on
17
that
the
91-day Treasury bills to
dated
Jan.
23
and
to
mature
April
market
24,' which were offered on
Jan- ~J4, were opened at the Fed¬
30 year§.
eral* Reserve Banks
stock
•
other
on
Jan.
172 -j
been
substan¬
Margin Required for $hort Sales
in GenemrAccdunts—The anibUht
to
a fixed
price basis at 99.905
accepted in full).
and
75%
Average price, 99.905 +
lent
rate
of
equiva¬
approxi¬
;
discount
It
mately 0.376% per annum.
Range of accepted competitive
per annum.
ingly,
gin
•
labor
are
some
this
as
in
man¬
is
By
justed
>
mar¬
action
effect from July 5,
debit
market value of each such
ity.
"
/ "•,
large
•
*'
h':r v
v
a
,spC^-
ities) shall be 50% of the current
1945 until
While it is evident from
a
the ;ities" (other dham
exempted secur¬
•
v
of
subject do sectidh
4(9) of Regulation T,/as margin
Jan. 21, 1946.
'
balance
TKb
—
the ad:«r
required ior* short/ssles^ of secu?^:
Board has restored the 75% 4evel
in
Accounts
cialist's account,
appropriate
its
Specialists'
amount to be included in
I have
readjustment in
time.
Margin Required for Short Sales
pursued. .Accord¬
requirements
at
^
inflation
and
policies, such
in
:
a
be 75% of the. current market
value of each such security.- ,
its course, assum¬
run
fiscal,
indicated,
I
$£,301#65,OOO/; ! ^
that
agement
High, 99.907, equivalent rate of
approximately
0.368%
discount
that
appears
largely
ing
5, 1945, then from
100% early in 1946.
now
has
included
the adjusted
general account,
pursuant: rto see. 3(d) (3)/qf Reguilation T, as margin
required fdt1
short sales of securities
(other
than exempted securities X sh£tl
and' the
of July
as
75 to
be
Undoubtedly, the rise in debit
balance of
prices
subsequent
•Total applied for, $1/704,759,000/ fall would have been much
greater
Total - accepted^ $1,316,103,000 if the Board had not increased
the
(includes $23,394,000 entered on requirements, first from 50% to
"
not included in the survey as
has
■
■
secur¬
....
Commenting
the
't
'4
•
margin
Acetateyarnproductionwillshow ^•rWRh^respect^qlhe'
previous;^is^- volume; of correspondence < which
ruling,Edwin^ Posner, President
imdividedpcofi^^Afterthistxans^ a 41% increase over current levels sue-df$1,309,000,000 ©f -91^day has come -to me that /there
fer, undivided profits are $29,534,^ to,£
is t a
J^ew yorfc^ ferhiExc^hge,'
:tot&l;bf ?77$^
on
new.
.
614;
increase of $240,376 from
year ago.
The Trust Company
has capital of.
$10,000,000, surplus
an
i
a
of
$10,000,000
and
Current
annual
viscose 4 cupra-
Output
yarn;
of
amounting
to 513,000,000 pounds, willbe in¬
undivided
creased
by <1;to!
543,000,000
pounds/bypctober/ 1948,-It is ;es*
timated that both the
high tenae4
ity yarn-output and the intermed^
iate-j-regular tenacity outputiwill
or $46.39
per share compared with be increased
at. the same rate;; $44.60 per share at the end of 1945.
Predictions made in the "Or; "The assets of the Bank are Val¬
ganon" survey are based of course
ued
profits of $8,097,020.1 The two in¬
stitutions thus show total capital
funds, that is, capital, surplus and
undivided profits, of .$287,631,634,
-
'
conservatively,
and" in
the
unallocated
preserves are deducted in
arriving
■af the figures shown.
Such re¬
published
serves
©f
statement
serve
absorbing
to provide a means
losses which may de¬
.
di scount.
ment, and
raw
matter " of
manage¬
material. In the
rayon
raw
material,
•
states
"the
two
rayon
raw
ma¬
terials whose short supply is most
Vvr/I-'H;-:.
,
.'.r:
\
should
it
per annum.
,
.
Low, 99.905, equivalent rate of
discount
approximately 0.376%
per annum.
gave
remembered
io the? Reserve Bdard /applies
only to listed securities and speci¬
fies
that
margin
.
requirements
shall be imposed for "the
purpose
of
preventing the excessive;
of
credit"
in
operations.
thorized
ban
>
on
to
such
stock
impose
use
market
The Board is not
au¬
permanent
a
margin trading.
months
T
ago,
this, is
am
gratified: at the .actiohr^
:the Federal'Reserye Board
a
in7lo\^-
r76%/basis. 1^^;f irri^ibeUeve^tlift;
the^^chiph/wili
have^-behefic^l<
effect, in broadening the 'base
the securities markets,
bf
introducing
stability and narrowing- the range
withinwhich
stock^prices;ihoyeJ/
Emil Schram, President of the
New York Stock Exchange, made
no
As I said in discussing this sub¬
ject several
(72% of the amount; bid, for at
the low; price was accepted.)
There was a maturity of a sim¬
be
that the mandate whicH Congress
:
High, 99.907; equivalent rate of
approximately 0.368%
.
labor;
tions,
.
factors,
namely:
margin trading under any condi¬
Jan. 13 disclosed these results:
Totahapplied for, $1,791,169,000.
Total • accepted,
$1,315,501,000
(includes; * $27,669,000.v entered; on
a; fixeci price basis of 99.905. and
accepted in full.1) ;
;.vAverage; price '99.9054-; equiv*
ilent/ ratef \df ^discouht/ appioxi^
mately:0,376%' per annum.
Ranges pi accepted competitive
bids:
availability may continue to be a
risks inherent in the conduct of problem, it is noted. "Outside of
current transportation and coal
the banking business.
Also cer¬
tain assets are carried on the supply problems," the "Organon"
on
t
machine capacity. Actual
rayon
output will depend on three other
on
velop through the assumption of
Bank's books at
figures under esti¬
mated liquidating values. The to--
Treasury bills/dated Jan.=16, /smd
maturing April 17, the Treasury
all
formal
statement, but asserted
the Federal/Reserve's' action did
not go far enough and that a 50%
,
ilar issue of bills
amount of
on
Jan. 16 in the
$1,306,594,000.
.
i'
hot
a
opejeway street*. The present,
adjustment to changed
conditions is
restrictive
being prohibitive*
margin minimum would; be
re¬
economic' quired to enable the Exchange to
without
Further action
4
Supplement to Regulation T
prices, stock prices, which
sharply for .severa
months prior to
January, 1946 and
J
member
Issued by " the Board of ;
Goverhor^
of the
Federal Reserve System &
Effective Feb. 1,1947,
the
and
contrast with
a
cialist in securities. 1
of most
had
to
;
siderably.
In
loan
1st in securities on the
exchange
for the purpose of
financing. such
member's transactibhs* as a sp&r
This
as
,determined
method, in the
as
of
securities exchange wlib
is registered and acts as a special^
profits
rise in
much
as
maximum
national
tax reduction
the
value,
reasonable
case
a
a
50% of its current
any
expenditures, the in¬
tensity of demand has abated con¬
In
.
plus has increased to $152,500,000
by the transfer of $10,000,000 from
of
value of
market
arfe
The
'.
govern¬
1945
and
in
from
comes
Low; 99.905, equivalent rate of
capacity of 42,000,000 pounds will discount :
approximately
0.376%
be almost tripled in an anticipated
per annum.
'
•
output of .123,000,000 pounds by
76%* of the amount bid for at
the end of 1948, Viscose
staple the low price was
accepted.
output .will show an .increase-of
\ -There was a- maturity of a sim27 %; over current capacity s of
ilar issue7*)! bills ^ btl Jan.:23 .iri the
139,000,00.0 pounds toi' 177^)00,000. amount of*
"At the year-end, capital of the
Bank remains at $77,500,000. Sur¬
repeal
loan
margin requirements were
to 75%,
At the same
time, the volume of credit in the
in
staple will show the
largest percentage increase in the
next two years; according to the
"Organon" survey. The present
,
various
-
national securities
on a
exchange, shall: have
during the four pre¬
ceding war years. As.a result of
higher prices and of the narrow¬
ing margin between individual in¬
Treasury
Bill Offering
Acetate
following:
of
controls
153.3
bids:
the reserve for unforseeable risks
of the-business."
/•
From the report we take the
lines
overcome.
is approximately
rise in prices
level
^
other
being
rose
as
v"/y *
been
^
to
registered
the
many
met
have
many
ser¬
was
Shortages in
lines
,
than
national securities
on a
v
tax, ushered in a sharp
prices during the year just
ended,
so
that the cost-of-living index
silk
date.
of
/Specialists—Notwithstanding the foregoing,, a stock, if'
clearly in bal¬
1946, together with
can
Result of
1948.
t
expressed
the
opinion, however, that the Bank's
management preferred to retain
in
removal
com¬
stock
more
year ago.
important
po¬
raw
"Organon"
current
port.
it is not expected that these plants
will be in operation
by the fall of
stock.
idea
two
now
with■, demand
case a
of Dec. 1, 1946, stocks
of raw silk in Japan amounted to
99,200 bales of which 48,500 bales
were available for immediate ex¬
proposed
rayon plants, one by the American
Viscose Corporation and the other
by Industrial Rayon Corporation,
by declar¬
ing a stock dividend and main¬
taining the present annual $1.60
rate
of
supply of goods and
vices is
ance
country is about three times
addition,
saying that the bank's
dividend "may be skimpy, but it
is awfully
safety hat paper add¬ and the Celanese Corporation of
ing:
America at Rock Hill, S..C,
to-' :nt;
:;r>"
*.
Ca¬
a
and
in the
remodeling of existing plant
equipment and new rayon plants
to
be built by American Enka
Corporation at Lowland, Temp,
re¬
silk will
ex¬
Loans
The
As of the end of the year, it is
estimated that the USCC held be¬
tween 55,000 and 60,000 bales of
and
as
raw
purchases/ the
The
increased
of
rf/
Regulation U, the maximum loan
value of any stock, whether or not
of line.
in view of the USCC's month-tomonth price adjustments.
follows:
will
users
Jan
also quote
of
Government's
themselves to large
mit
1,120,000,000 pounds annually
against the present " operating
capacity. of 891,000,000 pounds
said
the
raw
silk
price policy.
It
hardly be expected that the
as
by the Bank and the Trust Com¬
in
an
4 Effective Feb. 1, 1947
;
For the purpose of section 1
-
sustained
on
/
exchange, shall be 25% of its, cur4
rent market
value, as determined
by any reasonable method/ / 5
ment
tal
that
:
sale
and
registered
rapidly
quarter of 1948 is expected to to¬
"dividends totaling
$9,920,000, or
$1.60 a share, have been declared
the
,
Supplement to Regulatioh Uv i/
industrial peace,
confidence
living
Bureau, Inez The in¬
capacity by the fourth
dustry's
of
resume
$
Issued by the Board of Governors
/ of the Federal Reserve System r
1
wage in¬
that bring about increased
prices, and the downward adjust¬
ment of prices
which are now out
Company and the fact that pro¬
gressive monthly reductions in the
price have given rise to a lack of
Economics
These earnings
recoveries which
-
>
the; avoidance of further
textile
industry in that
fiber is due to high prices set
by
the
United
States
Commercial
share, com¬
with $25,525,953, or $4.12 statistical review of the Textile
per share in 1945.
a
j
r.
of;
-
creases
parent lack of interest of the do¬
operating
earnings of. the National City Bank
and the City Bank Farmers
By the end of 1948, the Ameri¬
Trust
Company for the year were $18,- can rayon yarn and staple pro¬
ducing industry will have in¬
801,025, or $3.03 per share on the
6,200,000 shares outstanding, an creased its capacity to well over
increase from $17,592,420, or $2.84 1,100,000,000
pounds
annually,
showing a 26% rise over current
per share for 1945.
Adding net
profits from sales of securities plant capacity, according to a sur
(after taxes), the total was
vey
published in the January
$22,"Rayon Organon," the monthly
788,344, or $3.67 per
pared
Full
production • depends
tended period of
mestic
Over Billion lbs. in 1948
current
production.
Japanese silk in the United States,
the "Organon" states that the
ap¬
Rayon Production Seen
"the
>
/'
In
-
stantial wage and salary increases
security in
other banks.
It is a step in the
right direction, though the infla¬
tionary potential is still strong.
the 'economy; reached
peacetime levels so that
by
the end. of • the year. 10
million
demobilized i veterans,
together
with millions of those
who had
jobs in war
industries, had been
largely, absorbed in
peacetime
those of Sweden-andBritain have
been the lowest.
V
" ;
,
,
new
.
as
against $1,199,322 in 1945. In ad¬
dition, net profits from sales of
securities were $269,427 in 1946,
events.:
changes
industrial Strife, the Supplements to. Regulation .JJ
obstacles, the l946 pro- and Regulation T to read as fol-.
-.
rent^
de¬
I
.
economic
duction of
although.- Finland,/ France.,
Norway ~and
Switzerland
also
made important-deliveries.
The
price of Belgian staple was. high¬
est, of the. foreign ^imports: while
.
.
cember,
1945, on deposit with $3,705,840, or 25% over 1945. The
banks, to redeem its maturing staff is
larger due to heavy work
obligations.
This action reflects
volume, and we have made sub¬
and
r: K"
will depehctCuponV the course
-
to
,
chief sources of foreign
supply in
item, increased
in
j
continue
Notwithstanding
and other
47,402,000 pounds
staple imports in
;
would
anti-inflationary influ^ % The action of the Federal Re¬
depending upon the' size of serve Governors, referred to inthe: surplus. ^
:
^ ~ the -foregoing statement
1946,
expanded money supply has been
In referring to the increase in
cut down
by; the action of the operating
earnings,
the
report
Treasury in using the excess pro¬ stated that "wages and
salaries,
ceeds of the
Victory Loan of De¬ the largest expense
posits
of
The
000 pounds,
$21,291,718, compared
Company net
tha forces of /inflation, ©our^
Ished by the vast wartime
expan¬
sion in the volume of
money. //-\
"Happily the record of the year
includes certain
stabilizing influ¬
ences.
Some of the
abnormally
total
.
:h61d - by 7t^® ^ banking
ence
•1946 amounted to 18 % of domestic
deliveries which totaled 162,200,-
Adding net profits from
of
securities, i\ the
total
private enterprise when it is given with
$23,725,059.
release.
But in it; also- may "be
"The Trust
seen
greater
a
1945.
sales
thepowerpf
1
saw
3er.iQd, staple imports amounted to
29,533,000 pounds as against the
and
reserves
/
slump and unemploy¬
had'expected to-
>
account) is
peacetime income and produc¬
tion—a great burst of
activity in¬
-
of; unallocated
■"■"""'■
known excess values (exclusive
of market appreciation on the bond
est
stead of the
-
- —
1946
1
'Almost
—every
that
public d6bt
system. This
have an
amount than any year except 1939.
In vthe!:: January ^November-1946
\r-':
•«A1
itself
J:Ui
K
■
York- on Jan. 14,/the pastyeaxwasde- reau/reports^-;/;/
y;,.,
r.
$gg/ scribed as' "one of ': the busiest this bank; hasrknown.? rSigned by. 5- -m / compiling data on rayon
Gordon S/Refttschler^O^rma#^of
the/Bbard;W/Randolph' Burgess; staple - imports, -the c "Organon"
ment
497
operate
on
a
normal basis
liquid capital market.
as
'"a
U
-
■
C^iTt^rsd^^r
TTHE COMMERCIAL & FINANCIAL CHRONICLE
498
fluid
Oufpuf for Week Ended Jan, 18,1947
17.2 % Ahead of That for Same Week Last Year
milk, canned
prices
Electric
more than:
and bran caused
meal
but ;^varices*iri
1-
4
Items Aboni Banks
..
i
-
......
the" index :foiv miscellaneous,
commodities to
And Trust Companies
lead' and^^-bickel ^cstuseif'ik^jgeiierai^itr\th<£ irietals
'^^ahkvK^Hbristori
The Edison Electric
"
Institute* in its current weekly report, es- group: ^The'f.lnci^^ ./fp'if^ertitizier§|a
kli'gfftliy.'!
the: Board of the Chemical Bank
of electrical energy; ^distributed; >y/ the
Puring\the Week 20' price ^series in; fheViridiex declined and 21 & Trust
ofvNeW^Tork^thA';'
electric light and power industry for the week ended Jan. 18, 1947, advanced; in the procedihg: week].^^f4Tdeclined :ahd^24 advanced; in
annual > orgariizatto/zriieetiri^' >rif <
was -4,856,890,000 kwh., an increase 'of 17,2% over .r the corresponding
the;: second precedingiw^ek
he bdard of' directors7eri Jan.v 18^
week last year when electric output ;driiouhte<fto: 4,145,U6,000;kwh.
announced
the
that: the
•tiniates
amount
■
'
in the week ended Jan.
\
L
$
-•'
..
t
j
^
Compiled'hji The j^at'iortaL AFertill^e^Asgocia-tiOn
11, 1947, which was 16.6% higher than the
^,163,206,000 kwh.^ iJrddu<^a; in the week ended Jam 12^ 1946.
The
largest i increases were repotted by the Pacific Coast5 and Southern
States groups which showed increases ofJ2&8 % ahd ;^.0 % j respee*
tively, over the Same week In 1946.
'* /
;
•
[:
.+
*
'x &-•»*
*♦"
>
'
\••■
iV^
-
'* y 1
Jan.17
'
12.7
15.1
18.5
Pec. 28
13.2
10.7
/
:
'
y:rr
341.9 >
22Ct.Lv : 229.2 296.6 ^ 316.3
Products_j--_l-_^__-i;rl_2L-^
Cotton-
■■9199.^
«.I
11*
10.8
15.3
7.6
22.0
:
8.6
aj-——i-u.
23.8
Pacific Coast---—
.
I:- 14.1
26.3
26.3
13.7
/ 24.7 .ft;
,
a
17.2
Total United States—..
17»
23.8
11.8
13.8
7
13.3
26.6
23.1
i&s
"bJL e t a 1 s-——r
Oct.
2-^—
Nov.
dSfOf •'
-j
+ 18.7
7_
14-^-^—
Dec.
21———
y
Dec. 28-
+ 24.0
4,368,519
1,510,337
+10.0
4.524,257 :
+ 14.1
4,538,012
.1,518,922
1,563,384
1,840,863
4,777,943
*,154,061
15.0
4,563,079
4,239,376
+ 16.5
3,758,942 i
+18.2
18
and Jan.
1,554,473
1,414,710
1,619,265
4,616,975
4325,814
1945
Over 1946
V
1,860,021
1,637,683
1,542,000
1932
4.427,281
1,602,482
1,733,810
!*,852.512"
4,163,206
4,614,334
1,598,201
1,736,721
' 4,856,890
4,145,116
+
4,588,214 "
4,576,713
1,588,967
■
iiin+'tti'm lit
i
•i'ritrniii.m.uiii
facturers
MaA ii;*\-U
:v.-
:
:
i.-..-
But it
■
would
private Construction
Public; Construction
*
State and
Municipal--...-—.
Federal
——.
the
(six-days)
$90,433,000
54,459,000
(five days)
$45,381,000
<92,821,000
30,394,000
17,420,000« / 35,974,000 : -14,987,600
15,657,000 - 26,736,000
"11,213,000
1,763,000.
9,238,000
3,774,000
In the classified ccmstrudidri groups, waterworks, highways, in¬
buildings, gained this week over
last week. Eight of the nine classes recorded gains this we£k over
the 1946 week as follows: waterworks, sewerage, bridges, highways,
earthwork, and drainage,. industrial buildings, commercial buildings,
fcnd*unclassified construction.
dustrial buildings, artd commercial
New
Capital
New Capital for. construction purposes
this week totals $16,307^
fOOattd is made up of $200,000 in CcnT^r'ate setmrities-ahd $16;iO7i00
in State and municipal bond sales.
poses
guJm
•
-n
'
•"'
•
'l!
( 1 1
"
4-
""
11
-
fofnierly
..
,u
Assistant
merly) Assistant Treasurer; -Keith
M. Urmy; "formerly Assistant Managerj: of the Madison Avenue; at,
46th//Street: • >vOffice^v ,?Hari:y
7;
New capital for construction pur¬
for the three-week period of 19471otals $31,798,000, 86% less
than the $234,778,000. reported ior: the corresponding -period; of 1948.
ageran'dWilliamJ/Driscdll'.wha.
of the 11 West 51st
^onbmist5iwhriv was;AotIfrying- to
.now
House Voraclel
to make
was
•
,
appointed Trust OffU-\
'■
f:
1? •*$£{*%,
;
tut,
•.
•
- -;<.;
7 f
„
S-
,
.
were:
Charlea
E/^aywbrd/TJi'^^^JChaHek
river.v!
But- things have happened since WiHiam!;I;'iSri^ricbi§arid:0/^
that talk.v4"Social forces" moved WiUtamsrisAs^istaht-^ecretart^
II
^lnk:'.
ri^it!^^6rir'.riiidkt:^^JCongress Was Johri; ■
jjres^nted. withs aXbilt to guaran- Gottwald arid Johii J. Riley 'a*
i^eYelybhdy in the lahd a' job. Absistanf^^ ManajgefA/:" Forei^
Counter, ."social forces" — you partment; Romeo Balaguer, As¬
3irv • awafeenihgrbf Free sistant Manager^' United Nations
-6"
e'^-^nti^^eriincrit: r---. Office; Stanley T, Davison, AssismoVed; ;tC^oiribat: the radicdls*
ant Manager, Fifth
Avenue at
The ' aWRkenedv or
enlightened 29th Street Office; Richard' Ck
forces said oh nuts, we've had Ginglen, Assistant Manager, Mad¬
enough, of the New Deal, and they ison Avenue at 46th Street Off ice ^
sell the country down the
of steadily increasing wages
and reducing prices,
Hpv emphaomy
that instead of; guaran¬ Walter W. Niles, Assistant Mana¬
teeing v every : msm -'"a job -they ger, 320 Broadway Office and
would just guarantee three econ-r Clinton Wells, Assistant Trust Of¬
omists a job, at $15,000 a year. So ficer.
they passed a bill providing for
an Economic Committee of three
Directors of the Corn Exchange
to advise the President, not that
Bank & Trust Co., of New York,
the /gentleman
has ' ever been elected Thomas A. Rogers ViceWanting in, advice before, but President and appointed Freder¬
some
sort of a political gesture
ick B. Haggerty Assistant Vicehad to be made.
President on Jan. 17. Harold H.
I observed
at
the time that
Boswell was made Secretary and
these three men would have a
Treasurer,
William
H.
Blumy
capacity ' for
mischieviousness, Comptroller and Assistant Secre¬
and that seem$. to be the; case.
tary, and Billings - B. Hartfield^
Or/ Ndurse's utterances} becoirie
Assistant Secretary.
/ \
government V pronouncements.
Really j they are still just his, the
At
the
annual
stockholders*
utterances of ^another economist,
decided
.
•
and
full meeting on Jan. 15 of the Fultoir
Nbw^^ Ifork; Arthur
at the Trust
J. Morris, President, reported net
y;'>r
earnings of $192,100 equaling $9.6(1
the woods have become
bf those who are working
trade.'
•
•
-
•
bet
Finances Hold
Up Temporary Housing:
FHA GhangesRental Gonstruction Rules
*
same
7-ari'
a few months ago
the bull penv-of the
White
White,
vfk'^was -the:vhistbr5f Officer
industrial economy. I felt Cer
:
Street Office^
iheeting^? Irving;
formerly Assistant/ Trust,
the
At
! *Un4 '
least, he has become overnight,
r'
r
-T
of our
have^beep
not
Institution,..." has
Brookings
Jan. 16,1947 Jan. 9,1947 Jan. 17,1946
(five days)
*
148.9;
%
rarrisworth,'
with v us;! thdt
of, if we properly -coritinued
the history of our industrial econ¬
$110,241,000
Buessei-^
Secretary; Arthur P. Ringler, for¬
(Cbntiriued: fibm '.page :4$5) •
go to hell.*
that Dr. Nourse, an
seems
was-over in
the 1946 week are:
Construction——
.
142.14
Washingfon Ahead of Hie News
,
S.
1914 7^, 190.2 ;-.<i
h
base
justified in tell it to
.
Total U.
*153:3
combined-!!—^^189.7f
1926-1928
on
if the White House had said any¬
a man
.
152.9
125.1-
Machinery--120.8
pronouncement: ,7
Frankly, I don't see why,4,eyen
At
.
153.3
:
profound observa¬
engineering construction volume in continental United
tions on our economy, to run the
States totals $110,241,000 for the five-day week ending Jan, 16, 1947,
stock market up and down, and to
as
reported by "Engineering News-Record." This volume is 22%
send our industrialists into.* the
above the previous six-day week,-143% above the corresponding fiveditters.
' • \ v'7day week of last year, and 62% above the previous four-week mov¬
I know the good doctor right
ing average. The report issued on Jan. 16, continued as follows:
well, and frankly he is arman of
.>
•
Private construction this week, $92,821,000, is 70% greater than
dignity and bearing.
About' a
last week, and 205% above the week last year. Public construction,
year ago-1 had a chat with him,
^17,420,000, is 52% below last week, but 16% greater than the week
just two curious minded.men ex¬
last year: State arid municipal qonstructibn, $15,657,000,' '0% belo#
changing thoughts.
He said that
last week, is 40% above the 1946 week.
Federal construction, $1,he
thought we were inevitably
763,000, is 81 %belbw last week; arid 53 % below the week last year.
headed for good times.
He point¬
Total engineering construction for the three-week period of 1947
ed out our backlog of domestic
records a cumulative total of $262,582,000, which is 49% above the
demand and then the backlog of
total for a like period of 1946.
On a cumulative basis, private con¬
foreign demand.
Sounded very
struction in 1947 totals $179,480,000, which is 49% above that for 1946.
sensible and something anybody
Public construction, $83,102,000f is 48% greater than the cumulative
who reads the newspapers should
total for the corresponding period of 1946, whereas State and "munic¬
know.
Then, the good doctor, saw
ipal construction, $66,517,000 to date, is 56% above 1946. Federal no reason1
why^^we shouldJriQt con-,
.construction, $16,585,000, gained <23% over the three-week total of iinue to
prosper after'both of
•1946.
>
'•
•
• !
7?;<
■
•'
"
these backlogs had been taken
:
.Civil engineering construction volume for the current week,
care
,
formerly Manager; Of the Municf-"
! ^residehtswere: Fred W.
105.2 V
thing like this, the motor manu¬
Civil
.
160.4
116.7
19, 1946, 110.7.
become
„
110.2 J
207.0
120.8
White House
a
CKrilEngiuering Conslruclion Totals
t't:
159.0
215:6
]
economist, who
last week, and
133.5 4
139.0
118.2
the reporter interpreted/ and; the
country's newspapers accepted,vas
1,728,208
ai
17.2
4,034,365
129.4 V
214.7
119.8 V
;
1,717,315
1,588,853
—
169.6
157.0
.•
127.0
From
1929
+ 18.3
+ 16.6
25-—i—
232.9!
<
129.6
1,806,225
3,865,362
4.573.807
203.5:
Schieinanfj:formerly,'Gredit':Man^^
% Change
1946
1947
.—:.
a. -
4
^Indexes
.1*793,584
4,042,915,
+
313.8"
1,798,164
4,096,954
;
Week Ended—
:■
Jan.
1,798,633
1,824,160
1,815,749
1,525,410
1320,730
1,531,584
1*75,268
170.5 '
142.2:,
Materials-!—'4 125.1-1
All groups
130.0
1,818,169
1,718,002
>
Jan.
4,450,047'
1,528,145
1,533,028
4,940,453
4,442,443
--■
Dec,
.
418.0.
\ 1920;,
1,806,403
I
1,507,503
4,448,193
Not, 30—.
Jan.
+ 18.6
4,354,939
4,396,595
14.3
163.1
229*
123.3
Farm
4,672,712
~
Not. 23.L—
.
4,358,293
3,899,293
>
2,948,024
4,682,085
4,699,935" 2384,608 !
4.764,718 ' 3,841,350
.
Noy#^, 16
Dec,
+ 16.9
3,914,738
3,937,420
4,628,353'
—w-
4,375,079
4,354,575
4,345^52
+
4,539,712
26
4,601,767
19—
Oct.
+ 16.0
3,934,394
4,495,220
12-
Oct.
wlSSl^
1944 i
Over 1945
.
v:
307.7.t
<129.6
% Change
1945
3,028,28$! '*11.2
Office;? Willierif^^ACEdwardsSfO^;
ineiiy^ BraricfTjSupei^ser/ George?';
;
King,; Jr. and Emil C. Williams, 7;
fofrrierly W Assistant ^Vice-Presi-:'
dents vaifd^JsStaiile3?/:^row^
alsoi? retMril>h!s: personnel .Director. & I;
»> % % 5 /j
AppdihtirientsCks AssistantVice*/'
Pertilizers-_-«-+-iX-^-^-ii<^t_-!l''i'-'^.> 131.2
Chemicals and Dmgs_r—r-i—i. v
-
Fertilizer
1946
4,478,092
Week Ended—
jtAi.—^—j* -i—j.-w———^—w———.
the
of
216.6
Buflding Materials-ii-I-—'-il-—-. ',&■ 215.6
DATA EOfc RECENT WEEKS {Thousands-of Kilowatt-Hours)
Oct.
* j*
••
Manager
154.3
157;6
<v••152;5
213.6
- r ?142.4
Commoditiesiti'-----.
Textiles——
7.2
18.2
<
Miscellaneous
446.6;:
arid
President
I61-.7
157.8
'■>
25.5,
o.2
.'24.1
IC.6
11.4
i
3rkjrief;Moi^'erIy;
157.6 V
226.7
;
259.7
as
226.8
226.4
Livestock----^---
"
it
Wost Central—
Southern States-.
Rocky Mountain-
1946 >,
«<
1946
Cottonseed
11.7
io.6
f
■ '
Pats'' azM-
Parm
23.0
Dee. 21
■
'10.8
;
Lr
....
.
Jan.
•
10.2
Industrial--^-.-.
Central
11
Jan.
10.4'
10.1
Middle- Atlanti£__——.
-
-J
,
442.5.r
25.3
w
'
-
•
-Week Ended-
Uajof Geographical
:
Divisional
•
'
'New England!!!///
appointment
/icerPresidents^'j Mir.
;
V
,
Prt<5edinf:MonthvY&ml:-WeekV ::'-"AgCr.f. ; ;Ago:.'
JaiiM:8,'VJa'd.'-Il/I Deo; 2l;if Jan: 19.
x^
Oroup
Bears to the
Total Index
PERCENTAGE INCREASE OVER SAME WEEK LAST YEAR
■'
'
' '4
:
:
:•
%
Each Group
-"
''
WHOLESALE GDMMdDrTY; TRICE INDEX
WEEKLY
The current figure also compares with 4,852,513,000 kwh. produced
fehai^;dml945::tihdhet carriin^»:
Wei^$248,200>equalirig; $12Ali;beri^
share.
a
Mr.
decrease
Morris
stated
frbm last,year of
that
3%,?
cpsts; vthe $,H5,t)00,008frfu;nd: appTopriated
by Congress for temporary, housing'.construction wili be insufficient incri^ise of4 6 %f inrfudirig^ari) iit-J
crease in, salatids-/tp; the^uhiqir
to complete the 200,000-unit program originally planned, according
"Off icers-and?? thb/
to a joint statement by the National/Housing-Agency and the Federal
Public Housing Authority.^The appropriation rig almost 25%hshdrt
and! sdlri^hb:^^said; werev$l00/900j
df t Covering^costs/v^^ it ^as^r€$eA6d;%acco^
A^b^iM^^v^
that- amount, he added,, is not in¬
cluded7? in< the/ net earnirigs- and
Corimiissionef of the Federal Pub
Because of increased
•
<
work is
_
to be dropped
_
_r.
ririf 11,850
Si-Uf4
.
-
>
Administration, which wris-vtransferred-itri^seiy^s/y Mr;
: 4
1 ;;
' ?
responsiblei ffor the temporary Morris'also said;.;;
: "In .our
portfolio, our. invest
housing: program.
The FPHA is
units because vfurids V are?niririirig
lie Housing.
low.
is'
-V;V
It
was
,
originally
planned to
'rirerit5h^rive^ni.erit;^
family units, with sufcbrdii^tedYtrithefNHA.
the end of 1 thb?yeair ! totaled $2^-*
^ Mr. Myer ? had said the agency
local sponsors -provMing ut^
709,000./These,h6nds^haye:a?^
site and management of the proj-; riid^^irioi^iriari^tiyvaskivCbrigi^
any turity to the first call date as fdiz
ects • after; cofripletit)ri> < V.Officials additional v^fundS'1 because*
said
that vit u-:was: .-.not-v pertain- mpneyappropiratedforr housing lows;29 % Within^'"one year-r+44^%^
hericefCTlhi;sho\tid:go' into perhia' from 1' to 5 yedrs-^-25 % fron) ;5 td
whether Congress would be asked
10;.years--T.7% over ten years'I
hent home construction:
' ~
to put up funds to complete the
3
in ^ another > housing - develop^ The average maturity / is
program or whether they would
yeafs;'';! ;Mr/ Mtoir furte
be sought elsewhere.
Methods'for merit/, the! Federal^^ HousingsAdported:
; /;;7 I
procuring the needed financing fninistratioh .ordered into effect a
new,./program easing
standards -/♦Our investment id Government
are said to be under study.Vvlri the
Securities is 67V2 % of our total
Associated Press accounts it; was andveost estimates under insurec
mortgages.
It
deals primarily resources. The average income
further stated:
rate on Governments is
1.52%;
Figures were not available on with rental housing to be buil :
through; financing under, govern¬ The average income on all assets
how much additional
build
200,000
•
National Fertilizer Association
Commodity
Price Index Declines
The
weekly wholesale commodity price index compiled by The
public on Jan. 20, declined
alightly to 189.7 from the week ended Jan. 18/1947 from 191.1 in
the preceding week.
This • is the second consecutive'w^eek tha;
there has been a decline and the index is 0-.l% lower than it was in
the preceding week.
A month ago the index .stood at 190.2 and a
year ago at 142.1, all based on the 1935-1939 average as 100.
The
National Fertiliser Association and made
Association's
:
*
report added:
puririg. the past week four of the composite groups declined
two advanced,4 the percentage changes in each- case were
while
Slight.
the
fall
The
in
greatest
cotton
drop
prices
was
in the farm products group
where
largely responsible for the change;
and steers fell also but prices for wheat,
In the foods group the most: significant
was
prices for corn, barley,
hogs, ' and lambs rose.
change
ril butter prices;
.
many
food products such as
.
money
be
no
will
was said, because
has been made on
decision
completed.
are.to bemused as a guide rather
than a strict directive and allows
which projects will be
Disclosure that
made
to
departed
is 1.29%.
ment mortgage insurance/
;, it - says- that former < standards
required, it
obtain
an
effort will be
more
financing
sharply from previous
policy expressed by Dillon Myer,
Costs
by
/
f
deposits for the year aver¬
$37^
The1
higher rentals if jus-1 high point for the year was $40,
increased construction; 314,000. The average deposits for
(Continued oh page. 524)
the builders
tified
"Our
aged $37,500,000 as against
022,000 the previous year.
.
i
Steel Production Exceeds Previous Postwar
cept, has- left relatively
pacity- for new quotas. -
"Bowever,
Peak—Wage Negotiations Resume ThisWeek
v
Barring
a most unusual reversal
management and labor, formal
between
union
heads
liminary
between
medium
pre-P-~
of
.'informal'
or
contacts,
and, labor
management
representatives, major outlines for
a^definite^our^^^kml^
been agreed
actl0n has
'and
upon
"The
times in
most ^ that
j
bext
no
"steel
firms
thic
week
from
their
.
oi
inl
were
order
products
customers
Practically any mill which
to let the bars down and
as
many orders as
strikes,«they will begin
backlogs
respect to cold-rolled strip also
remains to be clarified.
"To reflect fully the wide, range
of prices
United
tion
States
and
each
on
for
representa¬
determine
give
can
(remains
Steel
how ..much
the wage demand
without
losing their respective
positions in the eyes of the public,
the
stockholders
It is
believed
and
steel
that the
labor.
postpone¬
cbuld
have
However, there
wished
accept
still
are
steel
to cut
the
most
on
been
now
are
set
ter
which
presented
action
apparently
mains
re¬
union
in
was
part
due
the
to
desire
of both parties to
study
further their respective approach¬
es
the
on
portal
question
of
a
bargaining tool and by
The
hand, is anxious for a
legal definition of what constitutes
'walking time,' as well as valid
legislative action which it hopes
will
establish
clear-cut
a
course
for future action. Both sides
hope
that these questions will be de¬
finitely
negotiations
wage
J.
answered
"In lieu of
before
completed.
militant and stub¬
a
born
insistance
wage
increase, the steel union is
on
expected
to
place
emphasis
on
its
social
security
the
table
for
scrutinize.
management
Such
portal-to-portal
demands
on
to
as
provisions,
pay
increased retirement benefits and
annual wage formula
may find
an
themselves delegated to companyunion commissions or
committees,
the duty of which will be to reach
amicable agreement after
an
wage
contracts
,
have
new
been
#
ex¬
ecuted.
"It seemed likely this week that
after the smoke cleat's
away from
contract
negotiations,
the
steel
union
will
have obtained some
definite
welfare
volve
ization
aid.
setup
health
a
or
not
steel .firms
bill
is another matter and one which
will require rugged negotiations.
"Indicating
the
with
speed
which the steel industry hopes to
pare down some of its unwieldy
order backlog, the ingot rate this
week
advanced to
a
postwar
new
high of 92% of capacity,
up a
half
point from last week.
level could be maintained
If
this
through¬
a
«
out the
year, ingot output on an
basis would approximate
annual
84,000,000 tons. If such
no more
to
almost
months
rate
a
approached for
six
-
is
than four
all
of
the
unusual
''
tightness in steel supplies
will disappear and the
supply and
demand situation would
a
normal appearance.
oh
take
..'J.
•
"Possibly reflecting the optim¬
ism
jover fhe^ labdrcdutlobk
and
the subsequent
chance for .unin¬
terrupted steel- production, the
scrap market has again exhibited
,
stronger tendency with higher
quotations already appearing; in
the Cleveland, area* At mid-week
a,
fresh
areas
buying in
had
some of
dried* up.
the other
apd brokers.
;,^ere finding difficulty ih
covering
at the current
^quotations; Further
clarification of
expected
market
sometime
prices
later
week.---'--
is
this
ago, 72.8%
month ago and 5.1%
sumers and
from
20
equivalent to 1,617,900 tons
ingots and castings, com¬
pared to 1,607,300 tons one week
ago, 1,283,000 tons one month ago,
and 89,700 tons, one year
ago. The
previous post-war high (91.4%)
the
last
rate
is
on
to say in part
as
Consumers
3
showod
number
ducers
of
leading
steel
terly
set
selling
will have
are
basis,
by Feb.
1
up
whe'her
on
a
was
quar¬
allotments
regardless
Metals
of
Consumers
pleted by that time. Wage nego¬
tiates always carry a threat of
until
is
agreement
for the
threat
producers
less
Jan.
regard
9
menacing than
Jan. 10
previous occasions and
Jan. 11
encouraged in going ahead
their plans for the second
__
Jan.13
upon some
as
_
__
.
brief
a
quarter.
They
that in any
event that is the chance
they will
have to take, and if serious dis¬
f
in
their
quotas,
they
as
have been forced to do
upon many
occasions in the past,
especially
since the end of the
"Approach
quotas
stimulated
up
of
for
for
setting
next
quarter has
considerable
inquiry
among consumers, who are check¬
ing with their suppliers for defi¬
nite word
as
to
to
19.225
("E.
&
M.
19.800
of
J."
inally
Jan.
Zinc
12.800
scarce.
Many
^ Quotations
consumers
of these- products have
been :able
to get
70 000
13.0C0
12.800
because of the
heavy unfilled or¬
ders that most mills were forced
to carryover at the end >bf
19.925
13.000
12.800
;
Some :
sellers
amounting
and
;had
1946;
arrearages
to almost two months
.
this, combined with rated ton¬
nage they' had" beeri forced to ac¬
12.800
70.000
13.000
12.800
70.000
13.00C
12.800
10.500
70.000
70.000
70.000
70.000
70.000
70.000
70.000
70.COO
70.000
70.000
70 .000
ar®
domestic
fo-
nromnt
copper
;;;;
tin, 69.125c.
are
quoted
on
a
and
is
export
based
on
quotation
sales
in
for
the
copper
reflects
for the
are
prices obtaining
reduced
we
to
deduct
the
0
,
an extra 0.075c.
on
per pound is
charged; for slabs o.i75c.
weight!and .dimensionr for biHets
an
dimensions and quality.! Cathodes in standard sizes
,
■
up,
sold
oars.
and
at
a
-
"E. &M. J." ayerage for
M£Sy:
-
Prime Western for the previous
'
Quotations for lead reflect prices obtained lor- common-lead
only."
X'X-XXM,
*" -4'
a
re¬
quiet
and
prices
were
70,000 flasks of quicksilver have
been located in the American zone
of Germany attracted wide inter¬
est.
Operators
metal
found
authorities
an
orderly
believe that any
abroad by military
will
be
marketed
in
manner.
Silver
The
silver
unsettled
market
condition
brought out
of
the
even
lower prices during the last week,
tbe^ New York Official falling to
80
an
ounce
troy on Jan. 15.
attributed in
on the part of
manufacturing jewelers and sil¬
Lack of demand is
part to the desire
versmiths to reduce their inven¬
tories.
Industrial users of. silver
have been limiting their buying to
Western but
lc. ever the
on
An
unconfirmed
reportpub¬
lished in Loudon to the effect that
lor
esftra p.flSc,
are
been
the market here last
In
'
oqlinary forma of wirebara end ingot
was
whether Mexican metal
could have been obtained for less
than $90.
f.o.b.
o.075c.,
J
doubtf-ul
delivered
foreign market
^
unchanged at $88 to $92 per flask.
According to one seller, it was
delivery only.
prices
have
sources
duced scale;
Domestic
are:
.
than
or 99%
Though offerings of quicksilver
from regular European and Mexi¬
week
Quotations tot zinc are for ordinary Prime Western brands.
Contract prices for
Hlgh-gradezinc delivered In' the East and] Middle West in nearly . all . instances com*
mand a premium of. lei per pound over the Current
market for Prime
less
70.000
70.000
70.000
Chinese,
10.500
19.871
v..
month.:
70.000
70.000
Jan. 15
10.500
discount of 0.125c per pound.
not
70.000
10.500
13.000
foi copper
on
per
March
Quicksilver
70.000
for.cakes..0.225c. up,- depending
depending
9
10.500
70.000
For.,standard ingots
relatively little new: torij
hp>
bage since the first of the
year
cents
Feb.
70 000
10.500
particularly^ truS in
y equivalent, Atlantic seahjjNd.Ori f.a.s.
.transactions
light flat-rolled iprpducts; such as
lighterage; etc., .to arrive at the.f.o.b. refiqery quotation.
sheets and strip, which
continue
especially
in
Jan. 14
19.925
Effective March 14, the
the open market
follows,
Jan. 10
10.500
19.925
deliveries; tin quotations
-v
:A
.
as
Jan.
St. Louis
12.800
11
a
Jan. 13
St. Louis
ended Jan.
9,-
tons
Jan. 11
13.COO
week
in
pound:
zinc, 10.5000; and silver, 82.3500.
trade,
tin
was
unchanged.
Straits
quality tin for shipment was nom¬
The above quotations are "E. & M.
J. M. & M. M's"
appraisal of the major United
States markets, based on sales
reported by producers and agencies.
They are reduced
to the basis of cash. "New York
or St. Louis, as noted. All
prices are in cents per pound.
Copper, lead and zinc quotations are based on sales for both
prompt and future
the
of
Kingdom at the
The price situation in the United
f.o.b. refinery, 19.2250; export
copper, f.o.b. refinery 19.8080;
Straits tin, 70.0000; New York
lead, 12.9250; St. Louis lead, 12.7250;
■In
Stocks
consumers.
in the United
com¬
70.000
Average prices for calendar
the
States
copper
St. Louis
in
Ministry of Supply
7,727
in¬
19.225
__
metal
cover
month previous.
can
Average
prospectsior their
is
and
ore
foreign lead for
Lead
13.000
totals
hands of the
end of November amounted to
253
tons,
against
.
"This
34,256 tons, 'against' 38,845
same period a
year ago'.
Stocks of tin (metal) in the
United Kingdom - declined from.
13,296 long tons at the end of Oc¬
tober to 12,554 tons a month later;
The
basis:
that Js,
sepond quarter; allotments,•?, Fur? delivered at consumers'
plants.
As delivery charges vary with the
destination, the
ther,. buyers are reviewing their, figures shown above are net
prices at refineries on the Atlantic seaboard.
Delivered
requirements iwith the idea-.- vbf
prices in New England average 0.275c.
per pound above the refinery
basis, effective
placing the proper emphasis on Jan;x
2, 1947.
the specifications
tjiey need Moist
in that period.'
taled
tons in the
QUOTATIONS)
—
month
in November contained
metric tons of tin, against
3,018 tons in October, and 3,379
tons in November 1945.
Exportsi
during the Jan.-Nov. period tor
price,
week
a
'
Bolivia
February
the
decrease of 7.9 % from
3,393
7,697 tons.
New York
70 000
19.725
for
ox¬
Tin
the basis
January have not yet been
New York
19.925
19.225
__
war.
time
With
foundries 907 tons; roll¬
Exports of tin concentrates from
as
.
ruptions to production do develop
they will make the necessary re¬
visions
firm.
and
previous.
13c, New York, throughout the
was
32,2J8
tons,
a
consum
the
on
consumed
(French process) and other
2,397 tons.
Consumers': stocks at the end of
October amounted to 73,372
..
19.225
Jan.14
Jan.15
feel
and
ever,
maintained
was
week,
Straits Tin,
,
with
of
aa
-
.
zinc in the?
uses
pleted. With imports down, owing
or
Exp. Refy.
19.225
.
%
,
creased
19.225
.
j
.
sales
OF METALS
19.225
..
f
I
•
.
,
•
.
ide
years
volume,
preparing
Dom. Refy.
steel
six
disturb¬
a
DAILY PRICES
reached.
Lead
Allocations
are
last
gaivanizers
ers
being placed in greater
abrogation, if possible,
finally
the
.
the
Western,
ing; mills 7,647- tons; and zinc
in
77,578
to
Prime
High
Prices
on
tons; zinc-base alloys 20,499 tons;
brass mills 16,226 tons;
ingot mak¬
copper
business
—Electrolytic Copper—
"Most
ber
both
changed
copper
as
it
resale
some
viewed
was
which
of
Demand for lead remains
which
ing elemeftt.
between the larger producers and
the steelworkers' union are com¬
strike
that
Reserve
hands,
not wage negotiations
or
reported
A so-call¬
in
Special
continued
the first ten months of 1946 to¬
taled 643,288 tons. During Octo¬
released
further to embarrass
ens
market,
for
;
active
"black"
ed
last week
dur¬
of this ton¬
United States in October amount¬
scarcity of freight cars is
growing more serious and threat
ers.
prices at 19V2C, Valley.
In fact, it is believed that most of
of
were
ed to 79,894 tons, against
69,827
tons in September, the Bureau
05
Mines reports.
Consumption in
The
.copper
domestic
refined
v
range of 19%c
Producers maintained
pro¬
is
them, who
foreign
a
Most
Consumption of slab
given in the "Chronicle" of
Jan. 20, 1947, page 330.—Ed.]
to 21c.
expected to get under¬
within the next two weeks.
way
on
foreign markets.
oasis of IOV2C,
East: St. Louis;
were
.
Prices realized
firm
consisted
nage
[The annual statistics of Copper
in
news
'"Establishment" of sales
quotas for the second quarter by
a
amounted
Institute
of supply, was a factor
raising the average price of
foreign metal to the 20c f.a.s. basis.
last week showed
of
as a source
Cleveland,
and
6,461 tons of slab zinc
shipped to the United States
tons.
able deficiencies in home
produc¬
tion after Metals Reserve fades out
in
its
develop¬
ments in the metalworking indus¬
try, on Jan. 20 stated in part as
of
Reserve
Production
December
increasing
situ¬
ation, and growing interest in ac¬
quiring foreign metal for secondquarter delivery, to offset prob¬
the
some uncertainty exists
long-term prospects for
that
148,218 tons, the peak for the
Production
nervousness over the
copper
November. The
of latest
summary
Both
increased,
reflecting higher prices. Output of
crude came to 78,140
tons, or at
the annual rate of 937,680 tons
fol¬
:'
are, receiving
deep study by the domestic in¬
dustry. Canadian statistics show
crude and refined metal
an
Copper
92.9% of capacity.
was
tons.
lows:
highest since
week of May 21, 1945, whcjn
the rate
Metals
60,576
the
troy." The publication fur¬
ther went
is
reached
year.
pressure
caused
sources,
:
Tariff problems
December amounted
to
price of silver to drop to 80
ounce
consumers in
un¬
strong under continued active de¬
Deliveries of copper to domestic
selling
some
foreign
1
.
Grade, the trade believes.
the part of con¬
on
the
mand
holding at $31.17 and $29,56,"
ages
silver,
most
metals
firm, pricewise.
Lack
of
buying interest
one
of steel
feel
foot the entire
week
one
.
2inc, the nearby situation remains
composite
program.
week.
The
operating
rate for the week
beginning Jan.
group insurance, hospital¬
and medical and surgical
to
91.2%
,f
fairly Steady, the respective aver¬ ing November.
Excepting.
were
preceding
this
agree
the
year
ago. This represents an increase
of
0.6 point or 0.7%
over
the
and
will
that
steel
and pig iron markets held
scrap
-
Though
over
ening, indicating that consumers are not
counting on a recession in
the sale of products
containing these metals for some time.
During
the last week the
price of foreign copper on average
again moved
moderately higher.
There was more discussion of tariff matters
now
that hearings will take
place at an^-——
early date on the State Depart- for a
reduction, of the 4c import
ment's trade-agreement
tax.
the
in¬
which
program,
Whether
will
on
indicated
to
lere
follows:
considerable
package which has been laid
received
"Steel"
substantial
a
Steel
had
current
are
and
announced
telegraphic reports which it
was
steel
Iron
week
that
with
no
the other
this
semifinished
an up¬
of
revised
been
weeks
"E. & M. J. Metal and
Mineral Markets," in its issue of
Jan. 16,
states: "Demand for
copper, lead, and zinc showed no signs of slack¬
week
seriously the out¬
monetary figures which
have been associated with the fil¬
ing of the suits, Management, on
American
-have
year
two
Metals—Foreign Copper Again
Higher-Silver Price Off in Quiet Market
during" the past
Institute
first
diffi¬
hope for
Foreign lead was nominally
changed at ll^c, Gulf ports.
Non-Ferrous
the
month have been lower in volume
than had been planned."'
one
takes
landish
for
industry will be 91.8% of
capacity (a post-war high) for tlie
beginning Jan. 20, compared
portal-to-
union
means
granted
first two quarters may not be met
since shipments
of
expects that the
suits already instituted will serve
as
quotas
operating rate of steel companies
having 94% of the steel capacity
pay.
"The
.
the
the
transport
earlier estimates
the tonnages yet to be released
by CPA.
several
on
the first week of the year.
its
tonnage. Present records show
that
on
also continued to rise, being $52.10
last week compared with $51 for
the preceding week and $41.60 for
steel
some
specilties, Including silicon sheets,
on
for
The
up.
the* entire
ment of the
negotiations originally
scheduled for last week between
United States Steel Corp. and the
fill
being quoted
and
consumers
ward revision in
.
to be taken.
Moreover, some
books: throughout producers have not as
yet followed
year and, in some in¬
tives and USWA heads when
through with formal schedules on
they
stances into 1948. However, prac^
meet
later this meek is to
certain revisions made in other
get
mills are willing; to
down to brass tacks, do a little tically no
commit themselves on third quar¬
shadowboxing for public consump¬
.
strikes
culties,
markedly. $68.59 and $69.14, respectively. It
instances.
rose further last week to
$69.36.
This is not true in all
"New price schedules
renort
Sis S voS
no
This is true in stainless
" The
situation with
sheets.
some
quarter, provided there
into,
—-
j quirjes
were
instances—they es¬ products, 'Steel's' composite mar¬
timate that by the
beginning of ket ; price averages for finished
today (Jan. 23) further adds:
"Through the
quarters.
steel
as sheet mills
in
limiting their new
quotas for the current period—in
fact, had revised them several
,;and United States Steel officials this week will
be terminated, on a
^mutually satisfactory basis by the time present contracts
expire on
Feb. 15, according to "The Iron
Age," national metalworking
paper,
which in its issue of
;
ca¬
careful
fh the current attitude of steel
negotiations
little
actual needs at
;
.
prevailing prices.
The London silver market was
unchanged throughout the weeki
•at
55^5.
•
■
/---v -
5Q0
#!
claimants with meri¬
mended to
yield averages are
Moody's computed bond prices and bpnd
given in the following table:
MOODY'S BOND PRICES
tBa$e<J
i,
'1946-47
U.S.
.vc'-''
;
Yields)
on Average
torious cases, he'
Corporate by Groups*
Corporate by Earnings*
Corpo¬
rate'"
Bonds
Aa
Aaa
A
■
R. R.
Baa
P. U.
23, 1947
Kielman to Head N. Y.;
State Bankers Assn.
opportunity
-
Indus.
(Continued from first page)
by the Council for the admin¬
istration of Section 722
claims,
Mr. Evans said.
Naturally, such
120.84
Jan.
21
122.27
117.40
121.88
120.03
117.40
110.30
113.12
118.80
122.27
117.40
122.09
120.22
117.40
110.70
113.12
118.80
120.84
8:::::::
122.24
117.40
121.88
120.43
117.40
110.70
113.31
118.60
120.84
17—
122.24
117.40
121.88
120.22
117.40
110.70
113.12
118.60
120.84
a
is
122.24
117.40
121.67
120.02
117.40
110.70
113.12
118.60
120.63
of
15
122.20
117.20
121.67
120.02
117.40
110.52
113.12
118.40
120.63
118.40
120.43
118.40
120.43
William A. Kielmann,
President
of
perfecting and of the Peoples National Bank and
their claims. Since Trust Company, Lynbrook, Long
claims without foundation delay
Council's progress, taxpayers are Island, N. Y., has been nominated
urged to withdraw them or to for the Presidency of the New
agree
with agent's rejection of York State Bankers Association,
completing
up
:
consider the
prepared.. cases, he con¬
Taxpayers still have the
poorly
-
f %.
added.
The Council cannot
tinued.
Avge.
Govt.
Daily
Averages
:y
•
Reviews Progress of
Excess Profits Tax
Council
Moody's Bond Prices and Bond Yield Averages
-
Thursday," January
CHRONICLE
THE COMMERCIAL & FINANCIAL
/
change presented the problem
undoing some of the things that
were done in the past in connec¬
tion with relief claims, Mr. Evans
declared. It is not easy to change
their claims.
119.61
it was announced on Jan. 20 by
in
Paul W. Brainard, President of
with taxpayers
in
the First National Bank of Ithaca,
those cases in which agreements
in the field could not be reached. and a member of the Association's*
an old approach to a problem. The
The conference is the last step in Nominating Committee. Mr. Kiel¬
newly established rules and pro¬ the consideration of claims within
mann heads the slate of nominees
cedures must be followed, he ad¬ the
Bureau, he advised. Of course,
to be submitted to the member¬
vised.
a
taxpayer can always resort to
Mr. Evans pointed out that the the Tax Court for final decision. ship for election at a convention
Council has been in existence only
Mr. Evans asked every taxpayer to be held at the Chateau Fronsix months* During this time the to reconsider and recheck its re¬ tenac
Hotel, Quebec, June 15, 16
Council was busily engaged
in lief claims, and if it is unreason¬
and 17. The committee nominated
establishing its staff and admin¬ able or inflated, to adjust it ac¬
istrative and procedural machin¬ cordingly.
The taxpayer wants for the Vice-Presidency Burr Pi
22_.
121.80
116.41
121.04
119.00
116.02
109.79
112.00
117.60
119.82
ery,
15—
122.05
116.61
121.46
119.20
116.41
110.15
,112.37
117.80
120.02
consideration of actual
120.02
119.82
wt-
i4
122.16
117.20
121.67
120.02
117.20
110.52
113.12
13
122.14
117.20
121.67
119.82
117.40
110.52
113.12
fe'
11
122.17
117.20
121.67
120.02
117.20
110.70
113.12
118.40
Ei&,
10
122.17
117.20
121.67
119.82
117.20
110.52
113.12
118.40
120.43
122.17
117.20
121.67
119.82
117.20
110.52
113.12
118.40
120.43
122.14
117.20
121.46
119.82
117.20
110.52
112.93
118.00
120.20
tet
„
9
.
«
8
-
120.43
122.11
117.00
121.06
119.82
117.00
110.52
112.93
118.00
120.22
6
122.08
117.00
121.25
119.61
117.00
110.34
112.75
117.80
120.22
4L,
'
122.11
116.80
121.25
119.61
116.80
110.34
112.75
118.00
120.22
122.14
116.80
121.25
119.61
116.80
110.15
112.75
118<00
120.02
7—i
^
-
t
-
r"«
2-*—-—
■
.
122.17
119.61
121.04
116.80
118.00
120.02
118.80
112.56
110.34
116.80
,
119.82
EXCHANGE CLOSED
STOCK
v%
Dea 27-.——
122.17
116.80
121.04
119.61
116.80
110.15
112.56
20—
121.92
116.61
120.84
119.20
116.61
109.97
112.37
13
121.92
116.41
120.63
119.20
116.41
109.97
112.37
117.40
119.61
117.40
119.61
119.82
117.60
LM,
6
121.74
116.22
120.84
119.00
116.22
109.60
111.81
No*.
29
121.55
116.22
121.04
118.80
116.02
109.60
111.81
117.60
little time for the
claims.
Practically all the cases which
leaving
122.17
116.61
121.25
119.20
116.22
110.34
112.37
117.60
122.14
116.41
121.04
119.20
116.02
110.15
121.04
119.20
116.22
110.34
117.60
120.02
the Council has been
116.61
112.19
112.19
117.60
121.77
18—
121.43
116.61
121.04
119.20
116.22
110.34
112.37
117.80
120.02
11*™...*
121.08
116.41
120.84
119.00
116.22
110.15
112.19
112.56
112.37
114.85
115.63
116.02
116.22
116.41
117.40
117.60
119.82
cedure.
117.80
119.82
117.80
119.82
pared
118.80
121.25
119.20
121.46
agents to cooperate, but we also
start to come
121.05
116.61
121.25
119.00
116.61
110.34
121.08
116.61
121.04
119.00
116.61
122.92
118.40
122.71
120.43
118.00
110.15
112.37
26
123.77
118.60
123.13
121.04
118.40
June 28
124.11
118.80
123.34
121.25
118.40
123.09
118.80
122.92
121.46
118.40
4————
.27.u^'
feUg. 30—
July
—
May
31—™^
Apr.
26-L^.j—
112.56
112.56
112.56
119.20
121.46
119.00
121.04
As soon as
considering
continue
and
we
121.04
122.09
116.41
115.63
120.22
122.09
119.41
122.09
110.70
113.31
118.80
120.84
110.15
112.56
117.80
120.02
!Bjihv ll946-^.: 126.28 ivi^Q.02 ^124.i6^ '122.50 >J 19.81 ^ 114.48
117,60
120.43 .122.50
109.60
111.81
117.40
119.41
"112.75
115.24
119.00
121.88 cooperation.
108.88
113.70
119.00
123.34
121.25
123.99
122.29
113.12
114.27
114.27
113.31
118.40
119.82
119.41
21——
126.02
120.22
123.34
121.88
119.00
25—
Feb.
126.28
119.00
123.12
121.25
119.00
117.40
122.09
120.43
117.40
116.80
121.04
119.61
116.80
122.27
1947^-_i
122.08
/tw ;1947-.—:
t
^-rf:
Years Ago
118:60
120.84
-
.
,
> •
(Based on Individual Closing Prices)
Avge. ■'
r
' H;.\ ■' V*T\,'> *7''
U.
1646-47
v
% -Baily.-n. **
Govt.-
-
-
ijwt'
;
17———————
1
14-"
1.56
;
4.15——
■m
1.06
>
2.63
2.78
3.13
3.00
2.71
2.61
2.64
2.78
3.13
3.00
2.7i;-
2.61
2.63
2.78
.3.13
2.99
2.72
2.61
=.2.56
2.78
-3.13
3.00
2.72
3.13
3.00
2.72
t. 3.00
2.73
2.62
3.00
2.73
2.64
2.78
2.51*
2.57
1.57 ;
2.79
1.^5
1.57
,2.79 '
4,:
-
■
■
2.80
-£2.58
2.80
.2.59-
1.57-:
12.81
2.59
1.571?
-
2.58
2.81
l2.Wb
2.81
1.60
^6——
2.82
3.14*
3.00
3.14
:3.oi
2.80
3.14
3.01
2.75
3.15
3.02
-2.76
264
3.15
3.02
2.75
2.64
2.67
2.81
'3.16
3.02
2.67
2:81
3.15
3.03
2.75
3.03
2.75
3.04
2.77
-
2.61
:
•
.
2.67""P: 2.81 '7 r.3.16. "
2.69
2.82
t 3.17
J.19
2.61
2.30
2.71
2.85
3.19
3.07
2.85
3.18
3.06
2.77
2:58
2.82
.11
1.65
j
'■
2.83
3.16
3*04
2.76'
2.84
3.15
3.04
2.77
2.85
3.16
3.05
2.77
2.84:
3.15
3.05-
2.77
2.82
2.60
2.69
2.84
3.15
3.04
2.61
2.70
2.84
3.16
3.05
2.77
2.59
2.70
-2.82
3.15
303
2.76
2^0
9.70
2.82
,3.16
3.04
2.76
2.52
2.63
2.75
3.04
2.91
2.71
2.73
2.50
2.60
2.73
(3.03
2.87
2.69
2:69
Mar. 29
High
2.73
2.51
2.58
2.73
3.03
2.84
2.70
,2.49
2.73
3.00
2.83
2.68
2.70
2;46t
2.70
:
2.54
268
2:94
2.78
2.64
2*70
2.94
2.83
2.64
21,
BA.TTL'ES & COMPANY
'
1528
a-
2.70
2.99
2.87
2:68
3.03
2.76
2.78
2.55
2.63
2.78
3.13
2.99
2.71
2.62
2.71
2.85
3.19
3 07
2.78
2.93
2.63
'
1
Corporate and Municipal Securities
2.53
2.72
3.02
2.89
2.70
2.56
3.45
3.23
2.97
2.72
2.53
2.45
2.65
1.31
I
EXCHANGE MEMBERSHIPS
'
■
2.61
2.52
2.72
1.32
2.76
2.69
2.97
1.75
♦New York Stock
2.97
♦Boston Stock
of
more
of actual: price quotations!
movement
♦New York Cotton
NOTE—The
issue
of
the
list
used
"Chronicle"
in
on
compiling
the
averages
They merely serve to
Detroit
given in the Sept.
5,
1946
Inc.
1321.
page
"
(
poody'slDaily
Twelve
374.6
Y/ednesday, Jan. 15
374.6
1^—— : 373.8
Saturday, Jan. 18Monday; Jam 20
Tuesday, Jan. 21.
^
—
374.3
372.1
371.5
3734
Two weeks ago, Jan. 7
376 7
Month ago, Dec*
375.0
265.3
21, 1946—
Year ago; Jan. 21, 1946
T946 High*Dec. 24
380.6
2
264.7
4947 High, Jan: 3
Low, Jan. 20
380 I
—371.5
'"
after the disap¬
Antarctica of t&e
Navy expedition's Martin Mariner
patrol bomber, from the seaplane
pearance
Tuesday, Jan. 14
Low, Jan.
Exchange
r.'
f Chicago Board of
Trade
♦Chicago Mercantile Exchange
Minneapolis Chamber of Commerce
Winnipeg Grain Exchange
' '
Exchange
commodities.
f Clearing members in
*
Survivors Rescued
Commodity Index
Thursday, Jan. 16
Friday, Jan. 17 ;
•
*Clearing members.
Antarctic Plane
.
Exchange
♦Commodity Exchange, Inc., N* Y.
Wool Associates of the N. Y. Cotton
-
Stock Exchange :
♦New York Produce
Exchange
New York Mercantile
-
Minneapolis-St. Paul Stock Exchange
♦New York Coffee & Sugar Exchange
the bond market.
was
•
♦Chicago Stock Exchange;
Cleveland Stock Exchange
comprehensive way the relative levels and the relative movement
yield averages, the latter being the true picture of
Exchange
Exchange Inc.
♦New York Cocoa
Exchange
Exchange
♦New York Curb
computed from average yields on the basis of one "typical" bond
average
a
NEW YORK A
2.68
•2.67
2.77
1945__
the
SO BROAD STREET
2.61
2.84
♦These prices are
or
,
WALNUT STREET
2:65
<3^% coupon, maturing in 25 years) and ^do nbt -purport to show either the average
level
•
Brokers ami Dealers
;
2.55
3.16
2.81
2.67
2.60
,:;2.81
1.56
1946-
Illustrate in
INC.-
UNDERWRlTERS and DISTRIBUTORS
2 Years Ago
20,
.,
PHILADELPHIA Z
'
Jan.
:
•-•■
<
:
"
2.55
2.59
l l Year Ago
•Jan.
<~f^A
■
2.55
2.56
2.50
-
.1.68
■
IDfh 1946—.
Low 1946--.
-
2.59
2;49
2.66
2.67
1.57
-».' y
2.60
1.33
19471:—
;
2.60
2.59
,1.31
1947—
Loar
2.49
1.36
25_
n
v
j&y
y*
2.59
3.03
2.71
-
and
retail dis-
others, of bonds, preferred
266
:
2:71
:
1.45
y
.
—
-
Jan.
r'.-®r.
2.58
1.48
•
<>»1t
2.58
2.85
1.47
*
2.66
2.82
26
Apr.
of
2.65
2.73
>,
• ■
2.66
:
2.82
_______
•
vfiifatKf*-;
2.65:
2.76
2.83
1.55
June 28
'
2.66
2.69
26—- 7:1:49
Jl»lj
••
2.65
2.69
1:65 -
•
____•
"'
*
.2.65
2.69
2.69
-2:60"
.
•**
Cases have
2.66
1.65
4—
Aept; 27
«■•Aug. 30*———
•
2A2
'
been* disposed
and: refunds have been rCeomt
sions.
3.67
.
2.59
_
1
*
2167
2.60
2A2
2.83
*
receiving similar offerings,
--2.B7
-2.77
2.-70
•'• ■ "*
•
.
.
' '
;"
r.
tribution;
<'
Mr. Evans
the-Cohgressidhsd intent.in enact1
ing fthe> special tax. relief^provi¬
2.66
2.78-
3;07
;
(
■cqmrnoh stocks, which are suitable for
■
.
•
emphasized:that the
Council is doing everything within
its power to attain as close an
approximation- as is possible * to
2.66
,
-
;
i
interested in
from dealers -and
.
'£
-are
.•
.
2.65
,
2.78-
;3.04
2.60
'
T.63
2.65
2.15"
.-2.60
1.57
2.64
2.81
2.84
1.58
li60
:
2.80
2.67,
'
25-vI-^- *
2.63
2.64
^2.67
,
2.83
'••
1.57
'
2.75-
'
2.84
1.60 -
t
not availing
ofeights 40'pro-.
-»•
.w.
We
claims.^
-
2.63
2.73;
2.70
'2.84
'
1.62
-
15
.'.8
2.79
2.66
,1:59..* -2,83:>.
•.
,
2.73
.
'2.-66
:
2.60 *
2.81"'
•
-
issuing company.
/
»•
STOCK EXCHANGB CLOSED
-
1.59
22—
.
3.00
2.63
in touch with their,
informed on the status of the
devoting i its .time and efforts to
the meritorious k and ' qualifying
2.63
2.63
*
■1--*—i20—
29—
314,
2.60:
,
27i-r-^- lit'l&TV
Wf.
2.79
'
2.73
-
,2.66
2.57
2.79
1.57,'
,
■
3.00
-
1.57
.2
...13.t?.-.-;--_,
2.73
2.65
2:57
1.57
3
3.00
3.13
; 2.66.
2.57
2.79
V-
259
■
3.14
,3.14
2.79
•
1.57
7l--—
,6—„:
-4i——
2:79
2.78
2.57
t.1,57 *"
.
2.65
.
2.66
2.57
2.79
j 2.65
•
and were
-source;
v
test^he^agfent^Sfd^nniDation;;^
attend conferences, etc.:: Such- in*
actiotiifcy^la^Byers;iherelyepre-'
2.62
3.14
themselves
called to our atten-
In certain instances they were
2.61
2.78
2.78
y
2.79
■
%:
.Indus.
2.56
2.56
1.57
'
'
-
P:U.
_:2.55-
.
*1.56 *
—.
13
Con>orate by Groups^
R.R.
which ranged
$200,000.
vtion. by ^dealers, who. were
advise the local
to so
blocks of securities
iri amount from $50,000 to
; '••
Some taxpayers are
■
.
of Albany.
during the past
distributed at retail,
have
few years, many
He
-
2.7S
.1.56 m
-
facilitated, ;'
agent promptly.
2.78
2.78
1.56
20-xiv—
■'
WE
cooperate
agents; Cpuiicikre¬
final settlement of cases
%
.2.78
.1.56
•
21—
•
*
■
Aaa
rate*
4.
procedure.
the new
will be greatly
cuting it,
Corporate by Earnings*
Baa
*AA
A;
'Corpo-
,Bonds
Awagesx.;'^,.^.
•
on
requested every taxpayer's
He urged the . tax¬
payer with the disallowed claim
118.60 and with no intention of prose¬
'MOODY'S 30ND'YIELD AVERAGES
/
based
Obviously, if taxpayers
with the local
view and
■
.113.70 >105.00
117.80
119.20
be
.
:'
; ;
•....
„
....
20, 1945-.il2l.13113.70
Jam
•
116.02
118.80
~'s j
~
122.71
118.60
126.20
21,1946-^
*
120.63
116.22
120.70
1946—
$ llYear Ago
JUtt.
-
Farmers Bank
speedier results may be expected,
Mr. Evans stated. A number of
them have come in and it is hoped
that before long every case will
120.22
124.33
125.61
Olcott,
half President, of the Mechanics and
will try to meet you
he concluded.
way,
of Treas¬
W.
Douglas
named
urer
cooperation,
fine
your
First
Cort¬
land, and for the office
to be reasonable and to
ask you
the old pro¬
the cases pre¬
under the new procedure
before the Council,
119.41
Mar.
Cleveland, President of the
National Bank of Cortland,
We ask the
to be reasonable.
us
have come in under
25
Oct
Council has held conferences
Washington
days
Rune Webber, Jackson
over
ESTABLISHED
the burned
plane
was
the frozen wasteland
tender Pine
wreckage
sighted in
,
of
Island,
Our
six
wire system to
NEW YORK
survivors
standing
perished; The
following day the rescued. men
were picked up by another plane,
BOSTON
MINNEAPOLIS
CHICAGO
AKRON
LOS ANGELES
LYNN
CLEVELAND
DETROIT
ELM IRA
DULUTII
CONCORD
PROVIDENCE
SPRINGFIELD
member crew had
'
'
'
& Curtis
offices in the following cities
the
be¬
side it. It was learned that the
other three of the original nineWith
own
1879
•
'
PHILADELPHIA
GRAND RAPIDS
ST. PAUL
'
MILWAUKEE
HARTFORD
WORCESTER
<
Volume 165
Number 4562.
THE
■
COMMERCIAL & FINANCIAL
CHRONICLE
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The^tables which follow Stock Exchant*p.and
show the high
the New York
arred
ihgsoccurred
on
on-
low prices, by months, for the year
The nriees in all cases
The
Exchange.
prices in all cases are based
are hac»^
COURSE OF PRICES OF RAILROAD
AND
STOCKS
Low
High
how
x':-^- :--vSperSbare
Abbott
L.ton.tortea
.
B2»
Rightr:::::::::::::::::;::::::;::.
4%
preferred—
11
——100
Abraham. & Straus Inc
ACF Brtll Motors CO.--
i*
H2
Addressograph-Multigraph^;
Admiral.Corp
r
kl
.....i_.
:.
Alabama & Vicksburg.By Co.
Alaska Juneau" Gold
Aldens Ino
^..,.100
Mining...^
10
4%% series
8%
C0.k....k
<38
105
cum.
4%%
i
U-5
preferred ...—100
preferred—
Portland Cement
—100
33%
convertible
54
37%
31%
50
20%.
;
15%
58?
-
133
134
12%
^
40%
48%
'
44/4
9%
69
•
145
"fi%
•
59%
~niL-
57
*'
;
45Va
28%^^23%^
«?/
33%
35%
54%
46
56%V
107%
47%'
54%
106
47%
32
-
11%
65%
128%
148
59
54%
—
~37%
45%
39%
45
39
423/4
86%
71
lb/.
71%
958A
84%
92%
""
181/8
197/8
3 Va % cum conv preferred
American Bank Note Co
100
10
6% preferred
American Bosch Corp
American Brake Shoe CO
50
1
•
Rights
American Can
7%
cum
100
Co——
25
preferred
100
American Car & Foundry Co
7% non-cum preferred
•
100
American Chain & Cable Co Inc
SVo convertible preferred.
38%
81%
78%
23%
80%
78
80%
30
sovl
20%
243%
03%
50
57
American
So4
136
132
17
13
98% 106%
196% 201%
61%
70%
121% 129
134
131
17%
93
100%
197% 207
59
67%
124
40%
132
35
40%
57%
120
149%
134%
150
143
155%
137%
147
142
125
100
140
135
14?
148
1451/,
is«v
25%
30%
70
70
70
64
74-/'
/2
10 78
25
27%
108
104%
105
io3%
ins
-
9
11%
20%
37
41(4
39
43%
6%
50%
55
1
Ice„„
__
11%
100
American International Corp
American Investment Co of 111
99y2
convertible preferred
American Locomotive Co_
1
Machine
cum
& Foundry Co_—*
preferred
100
35%
35
32%
38
36%
54%
49%
51%
128/4
9%
63
11%
57%
'12
102
49%
Jo
55
112
109
14
100%
17%
102
12%
14%
103%
15%
12%
13%
49%
35%
15
11%
123%
108
14%
49%
9?v
IVfr
aj 74
m
Ii%
44%
116%
521/
i!2
41%
373/J
116% 118%
37
45%
116%
38
/4
19%
17
20%
34%
4i7/„
xMl'A 145
II
17%
331/!
lfi
*
II
19
177/.
ll(?
305/
ifpZ*
144
'
J0
,g%
148/2
148
American Power
"&
...
Light Co
*
—*
i $6
preferred
preferred
&
Standard
k,7# cum preferred
Sanitary.^
—
117V
43%
43/4
ZZ
152
American Rolling Mill Co
——10
4%#
convertible
preferred—
Ajg^on safety Razot
6#
Snuff
non-cum
Co
Steel
American
Stores
American
Stove
American Teieph.ne 8,
6#
page
50(4
512
73
IVY?
Al A
39
843/4
nV*
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1313,
1
,
50(4
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28%
33%
32
50%
572/4
153%
152
147
33
47%
92y4
87;
93%
158% 170%
23%
66(4
120
29
71(4
120(4 '
1«
50%
!
493%
23y«
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ill
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331
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120
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118
46 /4
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112 :
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100
110
91%
25%
52%
107
49%
36
32%
103
105%
41%
X36%
102%
31%
40
31%
42%
103
?r5/
113%
53
'31%-38%
X31%
1
IVU
S2%
131
371/4
rrv
n|/e
114
7is/
Jo{?
IIY?
80$
iir
3rv
351/4
ok„
20/4
36
151
—
rr,.
66
71
38%
44
37%
76%
39%
49
11%
i3ya
"95/8
'25%
•
•
71
21%
14
63 '/4
—
50
57%
67
28%
-
133
135
38%
9%
96%
204%
64%
120
11%
102
207%
71%
126
28%
108%
135%
31%
117
53
6Va
82%
v
13
10
411
190
65%
96%
x28%
106%
120
22
73/4
24%
106%
60
5/4
93/4
6%
19
223/4
27%
22%
7^8
101/*
7%
121% 125%:
33% 38%
108
451/4
9
112%
501/2
111/4
9
20%
101
171/2
43%
32%
106
~~t/
24%
21%
431/«
■
153%
78
15%
49.
15%
12%
37
42%
39%
130
87
188
194%
184
42
50%
42
196
52%
108
26
5%
104
49%
167/8
54
20%
1 0
137
125
137
135
150
20
19
21%
18%
8%
21%
100
9%
^36
5%
100
48
113%
18
7%
19
28%
90
18
108
5%
10%
6'/4
44%
17%
14%
I6I/4
16%
211/4
171/4
20%
173/4
7
108
23
5%
7%
106% 108%
20%
253/4
•
92
97%
95%
101
393/4
42
39%
44
91/4
6%
6%
f 8
511/4
44%
48%
95%
48
49%
35%
8%
12%
8%
103/4
11%
8%
12%
10%
11%
10
11%
12%
12%
Hi/4
10%
12%
12
12y4
12
106
112
112
251/4 x31%
111
36%
23%
115
24
,
101
114
291/4
21%
102%
99
28
115%
273/4
101
22%
114
22%
98
51
«o%
lll(4
v
'-"ii.'<*h
99
101%
29%
991/4
12%
15%
141/4
16%
24
a
29
26
153
303/4
'
142
146
159%
158
48%
ia%
22%
163
153
17%
43%
46%
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,20%
109
*
118% 126
167
44%
154%
111/4
143
14
115
115
21%
179
351/a
40%
180
19%
133%
16%
179 1
'gg ^
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50%
15%
112
18
397/8
45
123
37%
106
123%
19%
179%
41%
108
30
503/4
553/a
11
-I33/4
12%
23%
29%
50%
6Ik
43
169
45
165
481/2
69(4
190
52%
•
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103/4
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14-
17%
179
166
v
373%
14%
176
106%
103%
14%
14%
16%
20
35%
22%
37%
19
26%
193/4
23%
193/4
33-
463/4
35%
39
353/4
38
64%
45%
170%
166
44
54
X47%
136
37
x44
166
165
166
30%
k
28
343/4
32%
36%
24
40
48%
138
Xl48%
195(4 19954
180%
'
-
168
-
33%
26%
30%
48- 7
166
■35
160
27%
26
154%
64%
199
52%
170
29
25%
26y4
243/4
39%
140
1403/4
1391
60%
53%
59%
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165%
176%
1593/4
1%
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29
48
143%
51
Xl64y8
2i9G
77
81
80
83
150
166%
154%
161%
150
543/4
119 y8120
51
117%
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84 y4
85 s/8
1163/4
37
35%
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76%
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593%
171
1%
92%
48%
142
55:/k fv49 r\
1695/s
106
763/4
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89%
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142%
37%
161
28%
43
182%
62
\
24%
74%
663/4
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39
77
117
33%
27%
94%
2
162
34%
42%
97
170%
51%
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37
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166
54%
172
24
:
91%
97
174
119(| iSl mil
_jyj' tft
39
*
..
95%
39
543/4
174
283/4
32%
51
353/4
166
38%
48
60
32%
16%
22%
45
16%
176
103%
38%
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"k
174%
17%
54
149%
13%
X173% 175
31%
36%
1073/4
38%
91
169
179
14%
122%
114 >/2
143/4
331/4
90
15%
11%
113%
X104
102 3/8
19%
49
—
100% 110
12% ?15%
35%
33%
—
111
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15%
1173/4
29%
39%
—
39%
113/4
„
13%
39%
54
34%
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' 1063/4
33%
200(4
37
109%
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182
30%
104
36
195(4
13%
121
99%
109
321/4
Ir %t
39
106%
'
186%
182
43%
167
46%
34%
16%
49
46
"5
47
44
121
133% 139
14%
273/4
25
48%
69^
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20
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106
51%
:
3
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17
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<3$?* |00%
90% 98%
1701/a *167% 172
II ' S9?4
25% »*
118(4
:
27
63,/a
19254 199%
29
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24%
27%
113
115
28
115
131/4
43%
lly.
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187
43
31%
9
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18%
49
35/2
:
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497/8 ,54
59
25%
50
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49
14%
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17°3/l 172
v
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35
48
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19%
28%
44y4
20%
20.
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116'A
2%
104% 105%
191/2 21%
179
I83
,SS„ /9V*
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5%
106%
401/4
1051/4
90
5%
90%
81/4
•* 109%
47
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38%
45%
56
63/4
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42
36%
67%
401/2
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97%
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'
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101
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5%
100
99
54%
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110
104
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182
186
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102
32%
120% 126
115
112
109
25%
41
■
104
53'
37%, 43%
149
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107%,
21%.
91%
191%
-
107%
7ya.
47%
1%
32%
1061/4
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231/4
33
39 '
1141/2 116%.
36%
'
129% 131%
6% k 7%
7%
91%
__
1183/4
132
6
26%
60%
18
123/4
401/2
76%
12%
108%
25%
28%
i15
131/2
14
51%
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391/4
31%
79
-78-
r
107%
19
112
45
98
_.
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151/2
10%
74%
29
108
107
14
124%
28%
52,
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27%
107
22
115
109
-
141/2
13%
5°s/«
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31/";
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17%
23
72%
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~
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68
27
83
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136
19
43
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44
119
145
85
39
853/4
79
23%
07%
1%
134
5%
97ya
104%
59-"-
,16
%
131%
202%
47%
110
•<-
36%
2%
29
23
■
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189
32
'-72%
is
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133
49
;
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^ 106, 108
..
;
^
67
24%
24„
11%
j
8%
55
57%
28% Y:t 34%
79-:
723/4
17%
6!/2
44
12%
645/s
85
132% 133
93/4
13%
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101%
202
209
631/2 713/4
126
127%
30%
34
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—
65% -•77
85
41%
m
50
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81%
6*/e
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77
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•
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122
1431/z 159
25
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110 /4 117
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46
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44
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r
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53
--
133
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106
203
94%
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f
j
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63/4
45%
37%
88va ■' 85 >
64
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30
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491/
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39
99 ft tl01V":f-
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•
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95/8
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104 /8 104%
a
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_
-
30%-.-*5 29-. f- 36%.
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f;:_'?•«% y i0i/4 -f-
112
%
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51
121/4 138
1641/2
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fo A Sv
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3r
185(4 195
160
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49
18754 19454
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4oy4
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170
,
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451/8
154
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ill
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m
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94
97-1033/
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177
50^
Vilcose Corp.—...14
51.preferred ..2—....—100
see
28%
|q%
73%'
181'/*
40%
—k—100
For footnotes
36%
100
iS'
60,y
19/8
i?2v
3?% 105lA
*
Founders
180^ ifil%
40%
47(4
25
11
21 v
44
160
^-..--25
preferred
iq3/„
mv
36
63%
Taegraph.,.100
Class B
"
441/2
,i!%
m
??a/4
*
•.
American Tobacco Co—,....——
.
95%
j78%
American Sugar Refining Co
—100
7# cum preferred
.k—100
American Sumatra Tobacco Corp.—•
American Type
American
28%
987/a
•
*
Co—
Co
186
35%
39%
100
Foundries
182
?
98
35% 38%
*
25
preferred
American
185
23
96;
100
preferred
American
*
19
27%
100
>-18.50
,
American Ship Building. Co
American Smelting & Refining Co
7*
185
20
1002%
6
.
68
~
'
8o
7=,/
1
47%
.
9% , ^- 8%
45% k'V-jf 40 16% ;Ul4%
-
14
98
i2i/4 ?Sv4
,S iHw
I2
1
101 k
79%
7rv*
89%
17%
.....100
83%
14%
88%
—*
Amer Radiator
73
10%
12%
97% 112
*
$5
be%
77
.
36
33%
15%
Am«|gn Nbwtgco.....
60
25%
62
15% .17y4
1311/2
lit?
nSf"
^S,,
AV/2
125
323/8
5rv
83
7r3/
7?v
v 9%
40
68%
206
_.
53/2
60%
inlv i??
i?f/a ff?
--
110
36%
50 Va
-25%--30%
11%
;.; 33%
39%
12% :
-
■
-
.57%
63%
88„
47
|?*
1?%
Sv
.
46y4
30-
10 .:
8 .""
45^-r
16%
13%
103
4%
;47%
rA
39%
H
r
|S
1ni/
127V
24%
;
39%-
.
•
92%
oo^2
™
73%
221/
171/2
52
•
__
35%
of
i??i/ ,??,?
\IVA \il/z
28%
\{?
493/! ll/o
35% ?L
10%
50%
34%
43%
34%
105
13
118%
i^a
18%
103
50%
117%
392/4
II
..
2?v
—
14%
'
,
22%
—
.
H%
105
10
s_l
91V
209
Tn
117
llo
54%
??,a
>
'mau
33%
12Q
i5ya
11%
120
55
40'/4
143
140
1
19%
102
6%
61
62
11% H'°
56
..
17%
..100
j.
o
i2y8
51
—
American Machine & Metals Inc——*
American Metal Co Ltd
—_*
6# preferred
American Molasses Co.
47%
55%
38%
44%
115% 118%
100
.—&,«■
106
15%
50
50
41%
113
133/4
13
13
*
1
5%
_9
116
33%
in
19
39%
13%
124%
€4%
__
*
non-cunt;preferred
8%
18
107%
43%
1_°_4'/l 1_°_9t4
1
common
10%
114%
112
27
66%
63
9%
_50
14%
121%
113
1
6Ye convertible preferred
AlHome p"""""s Corp
3.90#
51%
18
4
American Hide & Leather Co
American
56
10%
inc.—*
29%
__
48
20%
33%
preferred
__
58
8
108%
7%
106
18
•
6%
31%
109
1
preferred
•
American-Hawaiian Steamship Co—10
American
26
106%
*
$6
New
32%
107
.,1
second preferred series A„.
$7
-
50%
20
American & Foreign Power Co
$7 preferred
39
27%
_
Amerfcan:.Bkport Linea a.
132%
25
__
American Encaustic Tiling Co Inc
American European Securities
353/.
29%
24%
105%
10
DU
71%
-128%
37%
60
100=/!
208
65
64
100
Cum 4%^ prior preferred
American Distilling Co.—
93%
202
—
43^4
ot^8
oov
153/,,
24%
Preferred called
American Crystal Sugar Co
6% first preferred
m
133I
65
'
.
Toj,/
«!i/
<"
High f/
—A-.7:-v-
18%
Vo i
4434
-««
°*/g
129%
14%
90%
98%
200% 210%
143
50
m'
134
*
preferred
*
54
12ys
100
10
38%
__
34%
131
Colortype Co
cum
134%
574
50(4
__
38%
:
7iy2
•
-190
103/4
17
2R3/
33%
December
S per Share
7%
40%
?ov*
/a
at
28%
37ya
*
American Chicle Co
4(4%
33
78
21%
14
1
I"
41
__
5y4% cum preferred
American Cable & Radio
II
—
36%
,
..<'l
.
42
63%'
;
50%
111
23
1
178
H
81
127
6%
'42%
^
fi2i/8
162
I
Lew
$ per Share*
a
75
78
127
105%
39%
41
5
"
■?*'4' z"4
-a
—.
American
Inc
201% 212%
in-ji/vtnc
--
169%
52%
35%
III
~
American^grirClTemicariDel)"III—I*
Airlines
-,
12!/
160
14%
:
8%
67
891/4
lla<'
: November!
> Low v High
18%" 10
45:
133/4
45
60%
32%
* 42%
75
:
:
tiM H i'b
>
37y2,
•
58"r
30%
7%
25%
SL/
3"i%
g5/
|®>
.17 :■
36%
*
11%.
3~6%
60%
160
136
2ll
—
lov
37
71/4
5%
66% v 54 .
A*
'
—
37%
8%
31'/a
.70%
*:
oto
51%
rl20%
11%
55
153%
rl20
36
36
gya
71
1(5^ia
21%.
61
.60%
5r
J
'<
sn.
45
19
58
9%
50
-
,
,
50
—v,
33--
.
135y4
23
8%
j
,
-
;
High
f per Share *
15%
-
55^ SS^Sw
103
52% ::
~
119
104
«%
,
144
"%
46%'
68%
42
J?/2
&
39-
?<106%
"
22
'
27%
45%
■
35
"cf/
•
A..
l2L 12S^ 128 J ^8
-
9%
-51%-
Lew
-
i
SRV"
rL/
S- S'
65%'
S
Air
71
411/
33
■
«%
38
*
deal-
any
.'
c*October
High <
* per Share
66%
45
?% oL
»/*
September
Xow
$ poir Share
12%
^9
»i,m.
m
J;
' •< ' 1*7 ' A
%
141
?I^8 ^
,0rt
9%
'*
*{*
-
_I
31%
i«i/
•
*V•>
'{
106% 112%
.50
.59'
/*'1 '•*
BONDS FOR 1946
Low
75
il
■
.
^20%
,£$; £%
A^8%
1 72
'
47
?0% 24,.
5J
***&
107% 108 '
108 -108
108
llO*! ?
'21 Vu
24%
21
23%
22% ^24'"
188%^1I0
24
146
_.
132
54%
H3
n?
««.».
67%
*
«}, W .
■ liV>
IS'4
15
:
*
39%
104% 107%
5t% '58%
—50
Amerada Petroieum Corp—
69
1
S
oq.v1
iv*
4J/f
«^
oia/
15
~7
79%
44
,10%
"6%
66
69
A
t
75
,77,,
•«<,»»„
41^ ,11'
MM,
14; Jl
'135
8%-
*6%- ~8'
•
39
1
preferred
36 %
20%
17%
50% •
55%
55
•
....
Amalgamated Leather Cos Inc—
6%
66
32%
69%
29%
46%
■
k...i...kk.i—i0O
con
Alpha
52%
46
t
ilk
»I«fSh.„
68%
liiv, 11V1/
ilo
lS
* 21%
82
25
Wa
V.:*
conv
54%
9%
106
,21%
"*5 c°—•
3%%
49%
34%
131%
1S5%^^210 4
.....,..-..-.-.
preferred
-19%
47%
68%'
IJ5LdU8tries InC
—1
DyoiCorp^kU-ki*
cum
24%
46^.
8%
fe52%-
r
Allegheny-& Western Ry 8% gtd—100
4%
38
10%
5%
5%% pfd series A .--—___„._100
$2.50 prior conv preferred ......k'.*
Allegheny Ludltim Steel Corp___.
•
;
-«88J-JP* H»
Amed moreS Corp
M%
__
1
•
130
15%
32
39£
100
Alleghany Corpl_..^__.^l•
4S!ef
AllteA Kid.
-
130
3
114
19
5
.........
; Cum preferred
122
itaia
—
36%
,
7i% 55%
111% 112
120
15
:
113"%
^ .in?**
^
„
?-?^V
^ stock m which
T
August
High
Low^Hirh
tawtho?
High
„
75
—
112
30%
19%
■
52%.:57%
61 ^
~~
116
18%
19%- -24%
,44% 57
32 41%17%- 20%
-
10
Air
128
Low
tnetShlr*
l'"
everv stnclc
.
actualsales.
MISCELLANEOUS STOCKS AND
Low
High
$ per Share
lis
H6-4
113
1U%
a% -3W4
AdamsiExpresar ^^^w———1
Actems,M1HJ8 Corp.,..
,0
High
91%
99%
~~
U6
"1%
.-..1..2.50
!..*L.f.,..'.*.,M.-
Low
* per Share
8814
~
U3%
High
9 per Share.
97»
1946 of every bond and
^^,..1—^..
on
f-
,v
•;'7
117
155
553/a
118
2
]
153
2%
159%
53 y4
60y4
117%
117%
Thursday, January 23, 1947
COMMERCIAL & FINANCIAl; CHRONICiLE
THE
■to!
S02
NEW YORK STOCK RECORD
Low
STOCKS
•
$ per
7% cum preferred
Preferred ctfs —£
V $4
conv pr.or
cum
9 per Share
25
12
79
-43y8
44
60%
51
Clayton & Co—£-—--£21%
Prichard Oil Corp—_—10
Andes Copper Mming Co——20
A P W Paper Co
\
Archer-Daniels-Midland
——*
Anderson
18y2
19%
23
-5
—<
-■
-1
preferred—_—l
.—100
preferred——.—100
'/Associated Investment Co
*
5 %
preferred
—100
New
2nd
■
Santa Fe Ry;
non-cumulative preferred
Atchison Topeka &
5%
A
Inc—£
F
T
10
6%
4%
Tack
Atlas
s;
$5
Corp.,—?
——
& Co Inc—.
Nichols
/Austin
prior A
—
A ctfs——:
*
*
,*
.
,
4%%
Bath
Works Corp
Iron
/ Bayuk
Cigars Inc
New
40%
,
Bell Aircraft Corp————-——
Bell
Howell
&
Co
—
Bendix Aviation Corp—_—
6%
213/4
26
r
20%
?1%.
,18%
21
,
163/4 /19
8%
9
14%
•16
132
152
137
150
15"
140
50
106
"106%
117
:
-
65%
37
89
37%
85
14
10%
15 y4
11 %
135/a
12%
15%
*
126%
134%
112
159
164
135
(E
Bliss
32
31%
% Bloomingdale Bros
"inc.:
100
—5
•I Bohn Aluminum & Brass Corp
Bon Ami Co (The) common A
_5
'
19
25%
19%
23
19
21
223/4
13%
19%
12
17%
12
15%
123/4
60%
;323/a
233/4
30%
25 y4
29%
21
26%
18
233/4
17
2234
17%
72%
103%
117%
121
120
.
146
152
148
138
' 147
56
55
111%
120% xl09%
1.18%
75 Va
125 "
100
"ftJ. 4%% conv preferred
'X
<!
f?
;:■
Airways
Braniff
92
45%
47%
123
123
108y4
108%
343/a
30%
New
80
89%
100
109%
106%
108 V4
21
13
16%
13'/a
173/8
13%
15%
69%
81%
62%
73
45
63 Va
45
53%
46
541/2
46%
56%
48
40
45
40%
44
32
40
32%
36
37
263/4
313/4
92%.
813/4
87%
433/4
49%
45%
49%
83
.
,
30
118
125
109%
103
109
273/4
32
130%.
107%
31%
26%
29
82%
66
'
79
129
124
32
31
19
18
22
120
150
25%
21%
121
147%
150
150
•
34%
New
$3.60 cum preferred
Brunswick-Balke-Collender
-
■
■
Budd <E G)
Rights
V
■
■■
Bullard
/
Co—
Burlington Mills.
,
■
-•
Corp—*.———1
——,—1
——
preferred-£-£-££.4iw
cony 2nd preferred-—--—100
•'3%% preferred —«—£.^.—4—100
Burroughs Adding Mach Co
——*
4%
.
38%
—/
i-;
45%
46%
•
rrrt
n
'■
T-rw
•
• m u n.i
For footnotes see page
tm ■
512.
mm t i i
—■..
108 % 109 t
3Mt%
18
■ ■
>"
117%
114%
115%
10%
13%
21 Va
12%
17%
10%
14%
10%
14
523/4
16%
21 Va
16%
181/4
16 %
18
17
18
313/a
'
18%
26%
19
223/4
18
22 %
19%
27%
18%
27%
15%
203/4
19%
23
21
27 Va
23%
34%
28%
33%
26%
29%
31%
28y»
19%
40
26%
8%
7
V.: M,-.
20
1
17%
213/4
7
6%
7%
42
45%
19%
22
19%
21
18%
21%
25 y4
12 Va
20%
11
14%
13 %
16%
14%
17%
28
35%
19%
29
18%
23 '/a
20%
25 »/4
21%
25 %
20
23%
14%
20%
123%
15%
13»/4
16%
13
15%
66%
68
Va
66 "4
70
67
70
48%
55%
49%
54%
33
26
31
26
29
25%
28%
81%
80%
86
84
88%
803/4
87
80%
84
66
37%
46
45%
59
48 Va
62%
55
64%
48
53
68%
35
393/4
36%
41%
34%
39
33
37
26%
X52%
x63
56
x49
57
55
56%
533/4
56
54%
48 Va
50%
53%
50
54
28%
31
27
303/4
28
30%
26%
27 Va
21 Va
25
21%
25 y4
22
30%
21
25 Va
29%
283/8
30%
23%
25%
393/4
55%
52 %
56
54
55%
55%
56
54
5o %
31%
28
32%
26%
293/4
24%
29 V*
20 Va
28%
19 y4
22%
18%
213/4
18%
21
X51%
59 Va
42
51
47
48%
•
21 Va
24
22%
24%
22
24 %
58
47%
57
52
563%
54%
671/4
58
59%
.52%
53%
43
32%
25
35%
x32y4
443/4
273%
63
53
57%
53%
63%
54
,
„
....
•
—
110
106%
'
107%
105
110
23%
129
105
'
73
108%
61
46%
62
119
117%
118%
51%
67%'
61
69
115
63
....
-r-
118
113
114
112
114
105
106 3/4
105
1063/4 X104
111
114
108
111
105%
104
106
116 Va
107
273/a
32%
42
40%
140%
107
29
21%
.
110%
—
114
62
65
59
61%
110
43
46
31%
83
33
6%
41%
52 Va
43
.
73/4
49 Va
6V4
41
.
46%
80
54
48
263/4
x32 3/4
19%
26%
363/4
-
26%
241/a
__
31%
25%
80
43%
114
17%
25
40%
42%-
.
105%
107
18%
23
12%
18
123%
16%
11
14%
11%
39%
42
35
38%
30 Va
34 y4
34
34
35
36
—
112
109
105
115
25%
19 Va
24
39
40%
41
43
138%
142
137
138
128
133
130
132
.
1073/4
22
403/4
40 Va
118%
114
105%
107'/2.
1053/8
105% .108%.
29%
233%
142
;xl30
114
101
103%
13%
24
28%
23%
26%
26
15%
19%
15
17'/2
15
25%
22%
163/4
15
22%
203/4
19
19%
21%
22%
29%.
29%.
26
22%
23%
20%
26%
25%.
18
15%
32%
18%
191%
153/4
18%
31%
29
26%
27
23
33%
28%
18%
24 Va
163/s
20
201%
17%
37
303%
24
24%
26.
34
26%
30 Va
36
29%
18
31
110
107
110
109%
110%
110 Va
53
46%
53 '
33.%
44%
.
.27%
30%
.
110
112
50
53%
323/8
29%
53%
45%
35%
29 Va
36%
30%
3%
56%
,48%
30 Va
51
3%
r33/4
31
38%
27;
421/4
273/a
25
113%
162
98%
41%
105%
34%
102%
253/4
323/8
112'/4
28,%
108%
99%
100 Va
963/4
33
41
30 Va
37
29%
35%
31 Va
31%
23%
27%
23%
27
22%
27%
22
88%
105^Va
90y8
101
85%
97 y4
86 Va
156
147%
162%
83
38%'
46
2 6 J/8
28%
30%
25%
28 '/a
72
82
39%
:
351/4
**-
H3":.v;
65%
40%
43%
50
49
Ill
27%
28%
57
54
58
31%
34
34
63
613/4
68
106
109%
58%
63
25%
69
603/4
68'/a
61
111%
106%
65%
61%
66
42%
40%
48%
40%
203
45
49%
46%
224
52%
573/4
513/4
53%
51%
55%
50%
28;
32
74%
85
16%
20%
52%
25%
75
X16%
46%;
,59%
X573/4
37%
44%
111
112
31%
34%
373/4
35%
108
109
32
/ 37
31
23 Va
18%
X123
130
34
38
31
37
33%
23%
15%
19%
153/4
19%
16%
18%
is y4
221/4
20 y4
23
22
25 Va
39 y8
45
41 Va
44
43
46%
36
39%
29%
23'/a
323/4
26
32%
18%
26
57
50%
55 y4
37%
50
39%
37
39%
18%
99%
28%
53
20%
y4
.
17%
141/4
16%
143/4
38
45
35
41%
34
111
111
27%
24
106
-
80
.81%
91
69 Vi
62
34%
41
-
481/4
54%
58'A.
1073/a
63/4
31
42%:
35
58%
70
35%
55
66
112%
33 Va
36%
37
1103/a
:34 >
115
113
110
523/4
38%
39%
37%
36
:
42%
30
*
453/a
.38
50%
323/4
38%
24%
127
•34%
21
126
22
-40
35%
25 l-:
,18 %
20y8;25
21%
23y4
%
94%
97%
95%
97%
96 ;
19%
23%
.
233/8
iTff
i 97:
251/4
20 y+
•
" 1.
18%
%
98%
: *
.163/4
:
A
.-953/4
21%/
X38
38ye
?
48%
36 :
104%
433/4
36
42%
46%
i
106%
45%
23%
34% £'38%
38%
J05%
39 :
108.
383/4-. 44%
44'
48%
A
40%
108% 108%
1U
-
111
•
16%
18%
60
60
64%
38%
28%
35%
27%
313/4
293/a
32%
40%
101
40%
45%
.
42%
.44
*
42%
59%
593/4
,106
42
-
107'
46%
/ 88
5a%
37-%
50 *
%
OO
36%
43%
,45%
r
24%
"
~
5»
51% j 54
•
108% 109108% 109 v
116
119%
V
108%
108%
108
107
117%
109%
114%
102
17%
193/4
17%
-20
19%
213/4
18%
49%
36
44%
103 Va
100%
6%
43/4
53/4
5y0
48 Va
.
.
33
X47
49%
363/4
44%
99
101
5%
6ya
30%
35%
51
33
56.
421/4
102%
5%
32
33%
23
15
19 Va
12%
18
12
14
91
87
91
89%
93%
95
95
163/a
141/a
163/a
14.%
15%
30%
34%
31»/8
35%
18%
13 Va
16%
14
46%
32%
38
30 Va
35%
x29i/4
35
23
28
44
51%
23 Va
46
109
26 3/4
y»
29%
52
1083/4 109
112%
273/4
36%
33
35%
33%
35%
33
104%
103
108
30
14%
63
108%
311/4
22'/4
124
30
48%
25%
31%
104%
22 3/4
263/4
105%
293/4
343/4
"
109
25%
1083/4
18
28%
X52%
293/4
29
42
47
25
108
37%
24%
105
103
201/4
,
141/4
18%
123
126
105
103
23%
16 3/4
126
36%
104
263/4
24%
15
16%
1221/4 125
1213%
24%
15
26%
18%
123
i 15%
18%
10%
15%
13%
101/4
13%
11
93
97%
80
94i/4
70%
82
701/4
801/4
71
75%
313/s
36
25%
31
251/4
29
27%
303/4
26%
30
104%
96%
100
26%
;.20%
351/4
44
v
107%
43
53 '
XlOl23 %
38
107%
;
9%
"1013/4 103
100
-
35%
22
26%
18%
44 '*•
37-
43'A
33
-
40
X33
13%
'
2\Va
39
; •
26%
109
46
37%
101 %
17
<106%
105% 10738
50%
473/4
1053/4
84
1241/4 126
127
124
128
124
21%t25%
41
57
26
503/a
56%
1121/4 113'/4
30%
33%
107
:
97%
108%
58
45%
59,
*
431/8
1083/4
<283/4
33%
44V\
132
253/a
'
" 112%
31%
35%
J07%
26 Va
k
52
91
15%
112
36%
403/4
37%
128
•
58
112
60%
•38
57
343/4
t
22%
is
461/4
105%
23
38
61%
106
21%
124
42 3/4:
.
1093/4 110%
.
2.,r
108
90
*.
18%
50%
15%
523/4
55%
:
49
102
4%
67
108.
108
.
.
94%
35
53'/4
1073/4
27
91
89
l93/4
16%
47%
48
.
ac-
181/a
45
110
42%
53
453/4
106%
59 y4
(23%
90
193/4
17
51%
16%
46 3/4
42
xlOl
101
&3/4
55%
28%
88
,
25
503/4
110%
33
68
44
191/4
26%
17
54%
111
47 Va
9%
533/3.
19%
48%
623/4
32%
23%
60
109
106%
64
25%
30%
75 Va
63
213/4
22%
423/4
63
110%
50%
61%
56%
64
51%
29%
363/4
55%
22%
35%
44
20
—
__
Ill
.
25%
27%
63%
68
8
9%
8
55
111
111%
573/4
56y4
61%
25 Va
293/4
75
,17%
51 ;
126
105
45
16%
•
14
51
44%
55
/'
26y8
35%;; 45Y4
39%
41
17
_
43
60
113
113
31%
34
108
45
32 Va
27%
109
-46%
106
~9%
~
36%
44
215%
190
57
199
54%
57
38
59
72%
25 3/i
293/4
633/4
:
211%
60
451/a
189% 200yS
37%'
109
112
".8%
35
.
111
55
94%
53%
36
.
67
110
~9%
21%
60%
64
111
110 Va
30%
55%
20y8
53
39%
113
114%
26%
"8%
121
64%
423/4
49
33%
94%
55
75%.
61
55
27%
149
143
59%
51
413/4
66%
151
54
27%
33%
113
113
35
51
18%
150
164
24
30
273/a
55
.
10%
35 Va
144
35 y4
64%
.
27%
28%
111%
111%
56
.
62
53
167
_
46%
46%
1133/4
163/4
.32%.
303/4
32
&
54>/4
.
102 Va
166%
1673/4
100
37%
45%
30%
25
25%
30
100%
98
43%
163
79
40
98
112%
38%
103%. 114%.
41%:
75
28%
107%
,
38%
25%
27%
167
83%
66
35%
29%
,27%
109%
112 Va.
.74
383/4
75%
413/4
33%
25
31%
105 Va
164%
161
167
103
29'/a
26%
44
31%
161%
102
36%
25
27
29%
168
16iy8
106
28%
29%
38%
111%
100%
104%
42%
24%
32%
30%
26
.29
47
28%
46%
40%
52%
443/4
x50
42
108
34
'
49%
106
112
1G8
111
17
4
—
„„
120
31
102
;
115
273/a
Rights
New
/
623/4
124
117%
124
26 Va
32%
•
:
.
55%
31
22 Va
"5% '
59
37%
61%
35%
'
Watch..£_—;39% / 43%
Bulova
X5334
IO3/8
29%
47%543/4
44% ' 53%
53 V2
.
62
61%
43%
__
/—
54
8%
25%
60%
preferred——^*-.-—.93 • .... 97 •
Budd Wheel-I4—22%
26%
Buffalo Forge Co
;1
30% • 39%
3.60% pfd—100
67
53%
38
371/8
•:"-$5'
Buffalo Niagara Ei Corp
54
10%
30
.11%
■ ——
223/i
6l3/4
40
105;|r109/!;
Manufacturing (TheVx—.26%
———————————————————
251/2
9
21%
52
56
V
1051/4
22%
56
11%
34%
26%, 32 %
60 :;; 71
34% 37%
18J/2 .217/a;
120
128
.r
103%
25%
66%.
9%
403/4
110%
35% 39%
110% 111%
32%! 35*%
731/2- 77%;
37% 39V4
—
103
105%
22%
59%.
35%
42
19%;
3
——100
Bucyrus-Erie Co-——
7% preferred
—
100
103%
27
78%
26
42%
•
16%
*
106 Va
223/,
25
333/4
39%
29
S'--
Co—
104%
40%
23%
46%
34%
80
—2.50
100
——:
*
.—#—_*
———15
110
31%
——
21%
61%
—
105%
'27%
29%
32
.23%
107
31%
106
21%
34%
30%
253/a
253/4
105
155
150
w—
— -T-
31%
343/4
34%
763/4
36%
33
118%
'
21%
373%
75
68
36%
106
24%
30%
44
108
121%
" 155
145
25 Va
84
83
31
101
112
32%
19%
165
X104
109
119
135
31%
80%
39
33%
88%
92%
x32
82
.74
42 5/8
84
123
66
127
36%
48%
42
78
77
84%
83%
119
123
133
32
78
117
90%.
87
126
_
i Bristol-Myers. Co——
3%%
preferred——
Brooklyn Union Gas—
Brown Shoe Co Inc.,—
102%
15
190%
47 Va
83%
813/4
48%
103
76%
953/4
.10%
34%
30%
72
4 Brewing Corp. of America———15
H Bridgeport Brass Co—•—
f
Briggs Manufacturing———w—*
Briggs & Stratton Corp
—
*
132
46%
243/4
333/a
158
63%
56ya
5
125
49%
121
22
95»/8
5
Inc——
135 Va
48 Va
114%
30
22
:_2.50
Roller Bearing Co
Bower
124%
129%
47%
20
29%
40%
*
126%xl32
136
47%
115%
38%
68
8%
136
127
55%
100%
11%
46%
44%
48
130
137
46%
265/8
52
179
(The)——
15
Borg-Warner Corp
—5
$•'
3%% cum preferred100
Boston & Maine RR (assented)—-400
139%
130
58
118%
67%.
•
38%
Co
Borden
134%
143%
1223/4
'41%
49%
94
51%
129%
110
33%
42
91
31%
24y4
62
—1
Inc—————
Stores
Bond
■
,
149,%
56
120
76
81
70
46%
-
:
10 Va
21%
16
105%
62%
24
20%
18%
1
20%
J29 %
'
135
'
56%
105%
15 Va
34%
30 y4
36
.
144
152
;
142%
112%
119
35
109% 110
29% 33%
67
73%
104% 108
-*
B
Common
.
28
12%
25 :
38%
102
18
52%
—
*
(S) & Co Inc—
preferred—,.
S Boeing Airplane Co—.——
i
106
25%
713/4
38
~
105
26%
64
33
cum
105
31
74
S Blumenthal
7%
1073/8x109
21%
l25/a
•
—
161
44%
50%
102 Vaf 104
'
:
65%
40 %
30
130
150
43%
105
25 V*
67
120%
27
:
18S/a
14%
113
"30
28%
93% 110
149% 157
69Va 77%
1
120
141 Va
43%
26%
11
—
5
122 y2
132 %
48%
67
105
84%
30
28
.
18%
27
—
——**
K0, $2.25 conv pfd.
f\ Bliss & Laughlin Inc__
117%
140
43
33%
128%xl30y2
130
124
118
111
31%
22 Va
125
125
53%
107%
23%
83%
.
58
33%
116
141
29;
112
Co
W) Co
125
i
42%
27%
52 V2
Blaw-Knox
58%
51%
19%
28
26
,4%
28%
55
108
27
92
7 8 3/4
93 y4
5%.
10 Va
4% ,5%
.
363/a
118
273/4
16%
108% 111
of 1946—*
1
Best Foods Inc (The)——_r—_———1
.Bethlehem Steel Corp (Del)—;
—*
7% preferred—
100
.Bigelow Sanford Carpet Co Inc
*
'/Black & Decker Mfg Co..
-—*
15%
43/4
5%
16%
323/4
35%
31%
pfd $3.25 div series
Best & Co Inc—
;
18%
15
12%
1703/4
.14%
23%
Cum
15%
16
26
107%
120
45%
20%
17%
15
183/8"
110
109%
40
37%
25Va
29
15%
15
41%
52%
56
.88y8
.109%
24%
133
132
18%
37
1033/a
57.
41%
52
15%
37%
109%
143
41%
41%
118
28
104
49
22
75
"
543/4
34
"
401/8
—
50%
15
•
61%
30%
116%
40%
108%
50-
51
553/4
355/a
56%
*
102%
86
35%
58
54%
30
1083/4
55y2
105% 107%
72
43
122
-
.70
79%
.42
111
33
65
54
107
:
118%
96%
109%
291/2
108
28%
108
152% xl46
153
142%
142% 148
146
22%
111%
27%
140%
50 Va
54
HO3/,
112
37%
60
703/4
60
61%
146%
,203/8
45
43%
32%
139
63%"
41%
473/4
46%
45%
36%
130
•
172
x39%
533/4
37%
4%
165%
137 "
.
160
41%
39%
.8%
59
643/4
59
59%
•
136
.
v
•
18%
70%
<
'
34%
133 "
165%
:
40%"
15%
18%
129
-
33%
- :
11
8
64
72
6
.
97%
.7
8%
.7%
-
v,;; 19, /
172
87%
9%
66
50
6 (
15
:
X108
52%
108
•
40
29%-
33%
14 Va
9%
"8%
**
10
8%
27%
24%"
22%
;1
10
5
*
,
Beneficial Indus Loan Corp
15%
21V*
19
21%
31 Va
105
106%
14% 17%
39 % 43
127
139
100
preferred-
4%,%
It %
133/4
62
70
*
Co__
Belding-Heminway
15%
53%
12
56% 66%
106 % 108 %
r
22%'
19
112 "
114 "*■■
113%
"
57
——
--
—
43%
114
54
—-.
55%
24%,.
30%
47
25
$4.25 preferred
*
•I 3%% cum conv preferred
109
Beck (AS) Shoe Corp 4%% cum pfd_100
Beech Aircraft Corp
1
Beech Creek RR Co (gtd)
50
Beech-Nut Packing Co__—
—20
eo%
i
53
—
55%
19%
134
30%
54
Beatrice Foods Co_
57 tu X64%
112%
60%
.
47%
25
83
49"%
20%
108%
141
52
28
30V4
.21%
114%
139%
15%
38
5
1
—*
'/Barnsdall Oil Co
111
145
,
108
ou
preferred-
cum
114%
45%
79
*
10
Barker Bros Corp
New common
/
112%
52
120
387/a
24%
113%
30
553*2
81%
39 %
22
75
43
47%
129%
109
33%
100
—50
100
30
non-cumulative preferred
Bangor & Aroostook RR Co
•\ 5% convertible preferred
Barber Asphalt Corp—
4 %
403/4
34
24%
13%
100
Ohio RR Co
/ Baltimore &
43%
473A
21%
116y2
9%
59V4
13
Locomotive Works
35
47
33
27 y4
33%
37%
.
41 Va
41
55%
147/a
37
26%
1
Balwin
--
.
($1.20)—*
Autocar Co
5c
'Automatic Canteen Co of America—5
Aviation Corp
(The).
——3
$2.25 cum conv preferred
-*
prior preferred
(The)
—:
conv
35 Va
52
49%
23%
.84%
17% 20%
1.16
126
t.—r—;
Class
Cum
43
47
58%
i
67%
25
28%
56 . 56%
90
97%
129
133%
25% 29%
Atlas
40 %
55%
52%
277/s
96
5
preferred--—;
50
Powder Co-*—1—.-————-—*
convertible preferred
100
Corp,--—
■'Atlas
50
50
613/4
140
•
115% 120
—
.
44%
54
53%
20 %.
106%
73
37
__
x493/8
50
62%
23 %
48
84%
non-cum
45%
56%
55
25%
135
.
81
40%
85%
36% 40%
115% 123 „
5%
49%
48%
58
27 y4
44
Co
*>
West Ind S S Lines—1
preferred100
Atlantic Refining Co
,—~—25
4% convertible preferred series A-100
Cum pfd 3.60% - series; B
—100
Coast Line RR
Atlantic
45%
53 %
24
—
Atlantic Gulf &
49%
^19
Co-lOO ' 1Q3% 110%
100
117
.120 %
——
73
112%
112%
133
131% 143
133
138
52
55
105
107
first
7%
58
51%
t-
—
——
6%
13%
86.
132%
136
:
135 ^ 143
—
—
10
.80
13-.
136
125
prior preferred———*
7%
8 3/4
7
9%
133/8
114%
50%
100 Va
105%
92%
,86,-
Xl27%
15%
13 /•
12% 14%
122% 128 %.
T% preferred
—
100 132 . 138%
Armstrong Cork Co.'-.--.
——54% 60%
$3.75 cum preferred
—.
*
107% 109%
Arnold Contable Corp—
—.—5
24%' 27 %
Artloom Corp-—;
—*
18
20%
Associated Dry Goods Corp.
fr—1
45
50 y2
Co
&
convertible
30 %
27%
30 Va
11%
9
166
153
104
18%
106
33%
172
12
53
28%
26%
103
523/4
174%
136%
86....
-7% ■• '9%'
10%
134
13%
'
8%
/■v.r7,%y-10%J-,
27 Va
.130
90
113%
19
160
lol%
125
178
160
86 y4
50
18
106 Va
45%
56,
11%
48 Va
24%
182%
165'
'
20
48%
45%
47%
43%
Anderson
40 3%
98%
168
::
113%X114%
47
53%
114
112
.112% 113
64'
52%
13%
45 Va
48%
40
54%
15
104%
107
104
104%
39%
18 Va
*
87
47%
52%
51%
56
102%
106
105
High
$ per Share
14%
16%
11%
44%
45%
40 Va
51%
49%
49"%
51
43%
67%
70%
13%
Low
High
$ per Share
85
13%
82 Va
81 %,
107>/2
60%
150
155
12
82 Va
15%
80%
15%
81
104%
51%
Low
High
$ per Share
21%'
14
24%
20
December
November
October
Low
$ per Share
$ per Share
21
26%
104% lu.y2
54 Va *65
160
175
28%
*
106
60 y8
45%
142
e
Mining Co
£—50
Anaconda Wire & Cable
*
Anchor Hocking Glass Corp
12.50
$4 preferred—
—
■—-—*
$6
147%
„
27%
24%
107'/a
21%
27%
Low
$ per Share
.September,
Low
High
Low
High
$ per Share
High
Low
High
9 per Share
August ,w.
High
July
June.
.
Low
107 J/s
104%
104
51
40,
134
*
24%
* -25%;'
22
108
41 «/4
49%
138% 150
110 Va
104
--
9%
Anaconda Copper
Armour
^'
27 -'
22%
'
108% 110y4
Co—1
convertible preferred
$5 prior
27%
May
April
High
9 per Share
Low
lu0
preferred-
Lead & Smelting
American Zinc
Share
29/2 57 r
128 - i5i>
---*
American
.
9 per Share
Low
High
23%
0
preferred
series (cumf 1st
Woolen Co
$6
^
Elec Co Inc—*
Water Wks &
American
'
High
* March
Low
High
February
January
v
21»/a
19%
26%
19 /
105
100
111
111
101%
102%
.21%
16%
105 %
106%
16%
18%
100% 104 ;
102
14%
46% Xl8%
21%
108 Va
100
107%
17 /
97% 102y»
100
101
13%
15%
102
89
106
98
—
•
13 '15%
16%*
953/4
19%
102
84%
90%
97
97
13
15
ff ys?«SI|| i!
lUl||Volume
>;■
Number 4562
165
THE COMMERCIAL & FINANCIAL
CHRONICLE
m:-
♦i-r
—mmmmmmrnmmmmm
%
,^":VV
^
501
-
NEW YORK STOCK RECORD
January
Low
High
$ per Share
"
STOCKS
Bush
Terminal
6%
Co
l
preferred
Bush Terminal
Butler
ioo
;_
——
Bldg 7%
pfd
90
10Q
Brothers,,-
4%%
13Vb
,..5
Hecla
pfd
Consol
57%
56.
'7%
.5
8'%
.—100
series,
.
X 128%
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20%
681/4
18%
57
55%
57 :
55%'
57%
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57
55 '/a
126%
134
46%
49 %
28%
131%
34
8%
133%
'
132% 134
134,136
413/4
179
56
10%
47%
56
65
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74
108
29
10%
12%
78
78
69%
Xl063/a
108
105'/a
108 3/a
154;
8'/a
83'/a
67
83'/4
159
157
160
106'/a, 108
157% 160
27%
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20%
213/a
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25 J/2
28'/a
25 J/2
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26
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143/a
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115
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113'/a
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116
30%
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112'% 113'%
12
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65
723/4
61
106%. 107%
157
160
33%
381%
28%
35%
class
A
101%
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541/4
23
29
19
23%
1051/a
138
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153
106
62
18%
019%
21%
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144
X141
23'A
27%
201/4
21
22%
22
10%
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11%
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112'/a
lll'/a
20%
8%
93/a
101%
101%
40'%
39%
42%
50%
16%
20%
42%
9%
11
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111%
15
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8'/a
10%
114%
112%
114
1021/4
100
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91/8
113
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■
100
113
25
20'A
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110'/a
110
43
35
43
34%
38'/4
5-1%
45
51
45
50
9
10%
111 %
9%
113%
16
12%
23%
22
25'A
31%
41
217/a
207/a
321/4
25%
13%
36%
32
20'/a
25%
16'A
36%
21
32%
15%
18%
i61/4
191/8
171/4
21 m
25%
30%
24
28%
241/8
27
23%
28%
20%
39Ya
36%
40%
35i/4
31J/2
36
631/4
57%.
28%
35
68%
57%
51'/2
593/4
53
60
113%
110%
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112%
111
112
105
111
25
13
20
19%
243/4
60
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12%
14
12
20 Y4
23Ya
22
111
113
23
111%
33
28
30 Ya
253/a
24
24%
23'A
12%
17
24%
23
25
64
621/4
19
20%
585/a
201/4
64%
23
571/4
21
62%
11%
49%
571/4
9
48%
54%
11%
8%
10%
49%
5%
187/a
91/4
17
19
16
6'/8
lO'/a
7 7/8
16%
4%
9%
7%
17%
14%
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13%
14%
10%
8%
11%
13%
7%
71/8
5%
9%
7%
11%
14%
12%
9'/a
51/8
8%
10%
8%
10%
5%
6%
5%
7%
19Ya
33%
29%
33%
27%
11%
31
25%
28%
10%
12%
21%
26
11%
21%
7%
18%
22%
16%
19%
12%
111/4
15%
10%
141/4
7;
40%
35
25%
7
41%
38
30%
25%
70%
82
70%
78 i/s
77%
67
37
43%
37%
41
36%
39%
351/8
70%
407%
76%
71%
74%
.65%
.72
65
37
30%
37%
25
32%
30
33%
59%
29%
35
56
58%
50
54
53
561/a
55
25
67
59
66
55%
57%
18%
65
57'/8
31%
67%
57
59
62
61
57%
56%
57
65
50
61%
20%
63%
61%
63%
61%
22%
61%
59.3/b
21
17
19 5/b
15
21
18Ya
25%
19
22%
16
19
*
20%
24
20%
22
21
19%
22%
19
20%
19%
12%
14%
46%
12%
43
15
6%
13%
'
140
114
6%
41%
46%
47%
130%
127%
113%
551/8
56%
28%
30%
68%"
104
22
86%
48%
55%
65
Ry Co
preferred
preferred
Columbia Broadcasting System—
10%
115%
35%
37%
x33%
57%
52%
57%
51%
35%
44%
34
41%
32%
30%
341/4
32
91
92
98%
19%
71%
24%
59
71
205
111%
57%
107
113%
63%
108%
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57
100%
57
29%.
205
60
671/2
102%
28'A
105%
35
64
192
108
111%
58%
108
106
112%
110% 1121/2
62
65%
106% 108%
100%
103
100 Vi
56 y4
571/4
43
37%
44%
50%
60%
103% 105
33
38%
63%
102%
56%
156
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156
178%
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179
200
m
67
45
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.*
45%
116%
16%
23%
18%
100
37 %,
36'A
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51%
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185
200
'
64
42%
48%
112
50'/a.
34
38
1071/s
114
106.
1031/4 104%
30 Ya
35i/e
63
187
103
1043/4
187
25%
35
56
68
189
77
102% 103
106
108
107
104%
102
107%
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102%
101
102
101
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47
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41
158
573/4
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l(j>8
180
168
162
162
192
196
162
165
160%
184%
,
190
1721% 188
65% ,69%
65
68%
64%
49%
54%
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105% 107%
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55
63%
110% 113
16 V*
18
20 y8
21%
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28%
34
35
.
108
51%
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20%
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104
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:
164
21%
61%
111% 113%
16
20%
.
18
22
67%
65%
603/4
617/a
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33A
124
.
31
24-
4%
132
.
34
191/4
3%
1233/8
315/a
68
■
62%
45%
54%
102
107%
44%
62
65
61%
63%
523/4
43%
503/4
46
56%
104%
X99
103
1043/4
102
102
39
51
37
42%
37%
43
38%
163/4
103/4
15
15%
l2Ya
10S/8
213/s
20
13%
11
203/4
183/4
16
145%
64%
46
'15%
31
28
30%
155/a
17
27i%
16%
28%
17%
26%
14
22
29%
13%
23%
12Ya
24%
13
20%
13
16%
171/4
16
28
16%
I.33/4
20
26 ~
20%
24
13%
16%
13
22
163/4
14%
17%
12%
15
13%
143/4
12%
15%
34
387/a
39%
31
36
28
393/8
30
34%
29
if
40%
30%
55
f 118s/8
41'A
35 -
-
25
27%
22
29
53%
118%
22
35
36%.
32
353/4
44%
39%
433/8
35 Ya
39 5/a
110%
109Ya
111
105
1041
107"
.
59%
120
4
127Ya
36
99
43%
1025/a
-39%
29
53
116
24%
4
44%
331/4
32%
53/4
127%
253/4
593/4
121
8%
26
31%
38
100
11
8%
TV
33
111
108%
mil
104%
41
33%
38%
30Y4
34
95
*„
34
28%
31%
28%
33%
27%
30%
27Ya
10%
9%
10%
93/4
22%
99
82
94
«...
—
——'
50%
117
56%
37%
123
273/s
21%
24
20
89
84%
85%
783/4
37%
461/s
361/s
42%
39
363A
46%
36%
421/4
38 5/a
115
119%
28'/a
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5%
4
123 Ys
1271/4
126
129%
32
351/8
343/4
36
,35%
68%
73%
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38 5/a
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40%
35%~ 4ft i
55%
50
30%
691/8
34%
36
23%
5
106
116
20'
24Ya
3
4Y8
111
1263/4
29%
32 Ys
mm
Tl-
34%
213A
50%
4%
38
83%
53%
245/8
•mmm
tm.
32%
453/8
301/s
107
191/8
3
116%
30
33%
33%
12
■
——
34
17
„
106 Ya
5-,:'
53/4
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,
503/4
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.
106
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95
77%
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123/a
:
46
58Ya
119 3A
1233/4
105
98
53
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463/4
363/4
118
.
4%
345/8
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a7a
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48
26%
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38%
43
106%
106%
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3 6 5/a
,
35%
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,
40%.
4%
129
46%
46
X47
:
138
30%
28%
102
4%
41
148
26%
Columbus & Southern Ohio Elec Co—10
25%
63
45%
1373/4
59
111%
50
66
39%
163%
148
.
18%
:
Xl09Ys
56
160
130
59%
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24
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115% xl 16
165
166
111
23 Ys
33/4
104%
19
i
45
42%
110%
22%
363/4
23 5/a
81%
44
483/4
39
47
103%
193/4
109%
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3%
120%
4
3y4
4
124
Xll9%
125
32%
31%
33
32%
123
34%
67
58
66%
51
13
55%
60
'
17%
13%
16%
32 3/4
121%
373/4
31
15%
125/b
343/4
25 :.ii
321/4
14%
24%
28
45%
52
50
34
41 rv
33
37%
241/s
33i/4
283/8
52
251/s
34%
36
,
-
219 s/a
333/4
23
X104
47%
47
162
193/s
29
110%
112
34%
30%.
106
52i/i
235/a
303A
26
109%
30%
52%
20
25%
<277/8
103
24%
65
107%
32%
106%
36%
25'A
235/a
149
60
50
112
60
106%
29%
110%
40%
XllO
66%
33%
173%
110
38%
46
113
60
59%
20%
158
"
109
53
15
18
51%
102
,60%
12%
;.
99%
106,
62%
111
57
33%
46%'
103%
108
311/4
19%
35
153%
'45%
rnmmrn
112%
28%
17
36%
20
52
110%
543/4
563/4
110
512.
108
n
112%
243/4
55
39%
15%
46%
—
20%
10 3/a
•
178%
59
38%
34; •*'"3T
50
36
133/4
42%.
21%
45
315/a
353/4
—
17
54%
32
UYa
.
IP/4
90
57%
42
•
10
885/s
28 y8
65%,
22y8
—
12%
62
106
"
—
94
35%
36%
-
27%
10
60
54
30%
110
213/4
90
33
50
21
27
108
253/8
12
178%
102%
64%,
.
28%
110
21
97
295/8
104
227/a
265/8
•mm*
137/a
*-
46 '/a
32%
36 y8
103%
37/
.Consolidated
38%
30
25%
106
105
107%
36%
55
43
33%
44%
60
106
11%
35%
38%
29%
20
52
108
44%
42%
42
31%
293/4
673/a
106
13
33%
26
65
109
41
*
273/4
22%
361/8
"9%
106
11%
25
241/8
361/B
106%
Co
923/4
32%
110%
Conde Nast Publications (The)
81
92
106
1123/4
44
128
96%
63%
44%
2%
88Ya
1
M
106
121/4,
123
II
110%
71
10%.
52
79%
33%
531/2
24'A
40'A
ns%
903/4
423/4
27%
47Y4
33
108
103
„
7%
40%
36%
60%
38%
& Southern Corp
108
25
18
6%
40
•p.—
16%
106
15%
85/8
40
110
30%
363/4
273/8
16 Ya
63A
37
111
112%
63 5/a
41%
41%
>,
26 3/g
106
13%
23
'
153/a
9%
26%
75%
106
231/a
553/4
18
7%
,
37
36%
102%
$6 preferred series—
111
37%-,
14
11
40
110
45%
115%
8%
36
76%
11
100
*
*
*
12%
34
*
Corp
143/4
54%
100
preferred
14
108
X40
47
16%.
112%
14
10
143/4
57%
series
Co
17%
54%
109
pfd,——
58%
109%
47
53%
55
67%
112%
67%
47
52%
59
33%
100
$2.75 preferred
54Y4
48%
151/a
190
9%
29%
59
36
67
42%
26 %
45
29
45%
*
*
—*
—*
18
48
60
series A
Pictures Corp__
49 Ya
21
45%
57%
108%
18'/a
.29%
41
43
17
49%
593/8
58%
37%
46
56
i-
Co——
54%
21%
213/4
31'/4
43%
Rights
40
18
48
81%
36%
2.50
'
Columbia Gas & Electric Corp
44%
26%
56%
2 7 Ye
557/s
2.50
Class A
23 Yb
1221/a
17%
50%
31
39
33%
38%
•
15
65
45-
35%
41
100
19 y8
%
68
111
112
106
58%
21%
100
37%
105
110%
57
153% 158
65%
104%
55%
114
*
20
64
106
16 3/8
51%
213/a
50%
1
15%
__
105%
12%
353/4
34%
35%
152%
62
155/a
45%
18
—
190
106
„
12%
341/a
19 Ya
™
r%
190
67%
72
106%, 108
66%
108
100 y8
.
68
192
59%
37%
20%
14%
36%
44%
103
16
11%
1/64
95% 101%
15%
22
—
52
108'/a
42
8%
:-
16
112
36
72%
104
131
112
31%
351/4
106%
93/8
46
52%.
86%
105
100
2nd
9
43
37%
30%
106%
x24
*
Southern
10%
50
135%
54
72%
*
>
&1/8
43
122%
7%
13%
30%
261/a
58'A
371/2
100
preferred
10%
53
137%
'
9%
16
193/a
57%
22%
9%
493/4
46%
20%
7%
8
13%
7%
9
233/4
62%
32%
56
6'/8.
10%
11%
54%
28
16%
23
153/a
>9%
34%
14%
21%
X51%
30%.
48%
21%
29%
17%
22%
54%
,
24%
64%
35%
72%
14%
59
55
26,%
%
107
„
1
Colorado Fuel & Iron Corp
9
50
18 Ye
70
39%
61%
22%
123
28
341/s
52%
—*
—
10%
50
136%
21
61
x24
20%
31%
34
72%
22
23
26%
113%
50%
,
25
118%
49%
117y8
114
*
3%
61%
18%
64%
22 %
100
100
7
6%
43%
19%
gtd
50
4% betterment stk—,50
Climax Molybdenum Co__
*
$3.50
4
34
guar
Colgate-Palmolive-Peet Co
7%
75%
25 %
*
*
6
Hi/4
11%
38
100
Corp,
26%
liy4
0
171/4
i
69%
8.50
—
28%
91/2
30%
70%
23%
25%
111
13Ya
24
*19%
13
31%
23
X108%
,
291/4
113/a
28%
26
112
23%
133/a
38%
.21%
110
31%
11%
29%
111
'27
14 3/a
43
49%
251/4
105%
12%
.
12%
38
44%
22
16%
10
Coca-Cola Co >(The)
53'A
12%
*
Inc
42%
17%
141
13%
351/4
13
46'A
575/s
42
11
19%
40%
143/4
25 '/a
130%
15%
16
47
59'A
82%
32%
11%
21
11%
69%
11%
411/2
55%
*
91
8%
27%
:
'
18
17%
10o
89
33
18
63 34
29
'.*i
113/4
26 y®
43%
13%
22%
X99
8%
32%
24
55'%
26'/a
90
10
27
49%
97
22 y4
98%
8%
t
10%
111% 113 f
443/4
35%
49'/z
113
86'/2
'97%
8'/a
11%
26% ~ 35
141/4
s
49%
18%
110 J/4
102
15%
37%
.
HOI/2
113
95
12
35
21'A
10%
18'A
19%
109
108'/a
101
16%
-39
31%
21 :<
X20%
.
46%
47
60 %
—,—*
.Cluett, Peabody & Co Inc—
Tc/e preferred
102%
35%
421/4
21%
107 y4
>144%
107'A
21
36
303/4
62%
105
29%
11%
'
58%
20%
112
8
38%
153%; 158
138
_
39
-6%
32%:
63
20%
131/2
9%
*
67
153
21%
37
54%
•
page
333/4
.59
671/a
s
52
107%
27%
158
22%
18'/a
25%
Cleveland & Pitts RR Co 7%
see
55
•
154
20
40
9%
17%
73/8
20
15%
5
For footnotes
38'/4
158
16%
37
10
.
31%
24%
101
20
com
:
New '
;
'
Congoleum*Nalrn
Cigar
341/4
6%
38%
7%
39%
7%
42
170
22%
183/4
*
(The)
Edison
407/«
33
6%
14%
41
173/a
—
Commonwealth
34%
6%
21
'
.
102
23%
pfd.*
Graph Bronze Corp (The)—1
preferred
100
Commonwealth
53
22%
14
26%
39%
49
14%
17%
26'A
16%
37
201/2
25
Solvents
13%
14%
23
18%
18%
Cleveland
cum
18'A
45
.'
13%
42
20%
126%
38%
49
24%
15%
18'/«
14%
55%
;
124%
49
211/4
39
21
100
C C & St Louis Ry Co
5% non-cumulative preferred
Cleveland Eleo Ilium $4.50 series
Commercial
121
41
17%
18%
119%
14
54
273/8
41'A
100
Credit
55 y4
46
13
2 2 3/a
17%
5
C
cum
,
15%
39
25
Clark Equipment Co
Commercial
15
21%
22a/4
1
City Stores Co
5%
25%
12%
541/2
l43; ■.'
51
:
'
63%
25%
'
,
112%
20
5
Carbon
24
141/4
58
133/4
115%
211/4. 23%
104%; 107%
159% X140
159
106%
1551/2
34
51%
14%
122
.i 12 VB
56%
12
23'A
160
73%
108
42'%
5
Preferred
13
114
51%
56
26%
.
'■'43%
16
X343/4
75
,
160
17s/a
50
New
Columbian
49
105%
17%
28
*
5%% preferred
preferred
14%
14%
y8
83/8
24
45%
393/4
170%
158
.
28
10 J/a
283/4
25
series A 5%
.
7%
•
118
60
;
<50
47
8%
41
79%-
38%
47
*
Pine* B
39
55
166
62
37
preferred
*
56
($2.50 cum divs)-—63%
1st
130
263/4
7%
533/4
170
71
.
31%
29 %'
5
Rights
City Investing Co
non^cum
y4
3%
,
'11%
56%
112
57
53
10%
451/2
163%
42
110
*
non-cum
58%
55
79
111
CIT Financial Corp,
City Ice & Fuel Co
4%
231%
168
73%
114
f
Chile Copper Co,
<A%
50 'A
29%
23%
46%
14%
40
pfd—
60
53
81'%
100
Chrysler Corp
conv
130% 133%,
24%
103/a
48'/a
164
23%
20%
*
convertible
12%
113
303/8
' 55 ' ■•■
3%
55
8%
■.431/4
'26
.'-y
135%
53
59
9%
51%
75
69 »/2
57
178
110%
fChilds Co
3.60%
132%
*
Chicago Yellow Cab Co Inc
Chickasha Cotton Oil Co
$4.25
134'A 135%
5
preferred———
Collins &.Aikman Corp,
12
12 v*
51%
28%
1
Series A preferred wi
Chic & Nprth. Western vtc for
International
i6
17%
58%
21
27%
26%
15y4
52
16%
37%
100
Chic Milw St Paul & Pac vtc wi
Class A
663/a
55%
*
Industries
16>a
18%
17%
50
pfd—
Milling Machine
12%
553/4
57
10%
•
43%
169%
—,-p.
Chicago Mail Order Co_
Columbia
180 1
•73 '/a
70%
583/a
1.25
cum
18%
*68%
67/a
123%
47%
43
16%
59
93/4
47%
176
-
56%
10 'A
43
178
673/4
59J/2
8 '/a-
44
176
76
56'/a
9
40 J/a
183
66
57 »/4
>8%
*
Gas & Elec Co
13'/a
115
18%
103%
23
X23
6'/4
16
100
80%
8'/4
27%
B
convertible
127
j
551/4
31%
73/4
261/4
51%
57J/4
>61%
13%
"
55
135'/4 137
6%
20%
;
43%
59%
54'/a
21
1
Prior preferred
116
56
I61/4
27%
1611/2
*
Chicago Pneumatic
138
55
66
32
107'A
116
8
15%
72%
6.1
21%
Co—
Vtc for preferred
126
:
55
:
-
30y4
Xl3
20%
27%
157
*
preferred
&
54
18
17%
4.7%
109%
12%
6%
21%
15
__
112
9
35
65'A
31 y8
66%
4
21%
-493/4
77
3
71
47J%
47%
,4y«
3
20%
27%
179
58
17%'
48 V*
60
53
66
29'A
161
*
Chicago Corp (The)
Chicago Great Western Ry Co
Colorado
;i~8%
27%. 32%
55
,'57"V:
3%
43/o
543/a
7.1 Mr
26%
107 %■
100
:
cum
iio'A'
19%
34
53%
21%
-■
25%
301/8
99
108%
5'/a
21
36%
4%
6%
18%
100
18%
103 i/a
•
27%
105.%
15
54%
29%
5 %
15%
77
if; 90
23
99
29%
140%
1351/4
,
45 J/4
155
—
;
Coca-Cola
138
5,3 %r x55%
5%
:
75
86
81
24
24
8
18
105%
91
24%
108%
—
Co
Chicago Ind'polis & Lou
130
-
;
32%
71
10%
1081/2
High
i' 7%
6%
106
99%
54%
'
■
20%
32
3%
36%
51
.
•
-535/8
55%
60%
'
80
x
Low
8%
77
79%
25%
42%
54
5%
.
83
105
.
5%
.
16
6%
75
35%
36
30%
58
26 y4
10%
43 %
8%
40
^
*
■
28%
$ per Share
21%
"
109
5
110%
56%
A »/4
x46 V*
81%
67 '/a
6
105
.,7"
Decemaer
Low
High
$ per Share
.
BVa,
78-
87
30
109%
,
-7
90
78
1061%
31'/4
45
10%
50 ;
27/a
70%
175
40%
54
84
23
November
$ per Share,
9%
93
23%
16%
56,
i8~y«
73%
1
31
7
.
34%
5%
37
46
;.
'
108
112%
56
35
-
147*
■;
51%;
20
1
Class A
Clinton
132
18%
*
prior preferred—
Special
134
f" 55%
17%
20%
Chicago & Eastern Illinois RR
.
.
S4A;-i
53
•
29
Co
Chesapeake Corp of Virginia
Chesapeake & Ohio Ry Co,
•;
130
.
67%
24 y4
$4.50 preferredChecker Cab Mfg Corp
6%
124
.
20%
Champion Paper & Fibre Co (The)—*
-
59%
181%
25"%
Cerro de Pasco Copper Corp
Certain-teed Products Corp
.5%
40%
42%
67-
■
22%
Century Ribbon Mills Inc
;S%
'58
20
.
;
37%
251/4
31
9
.
85
'
8%
108
40
4%
39%
18
*
Aguirre Associates
6
10%
42% J 46%
16%
100
Central N Y Power Corp—
Cum pfd 3.40% series,
^Central RR of New Jersey
5%
33%
62%
Central Hudson Gas & Elec Corp
*•
Central Illinois Light 4%% pfd—100
Class
>9%
66%
*
New
41/4
,11%
9%
22%
*
preferred
New common
10%
6'/«
-
21
25
Corp
5% preferred
Belt
5
17
—0
Celotex
Chain
54%
62%
>.-100
Central Violeta Sugar
41
55%
-.19'/8
__
Cine
131'
53%
50
Co
Central Foundry
47%
54%
30% : 34%,4ly4 45% '
*
Central
44
58-•
22%.
—I
preferred—
$4.75
47%
67 Vz
20%
50
New
4%
i
31
36
■
11
October
Low
High
Low
High
$ per Share
96%
29
6%
110%
42%
x56%
•
57 %
,6%
19%
.
27
105%
40
92%
108
—
,1%
2d
107%
34 y4
9%
91
37
311/4
September
High
1
12%
107
8%
Low
$ per Share
98%
.
90
38
7%
i
125
95%
109%
36%
17%
10
Caterpillar Tractor Co
Celanese Corp of America
7%
26%
108
65
.
88
107
105-
30%
-
•
97
34%
1
Cum pfd 4%% series (conv)
4% series cum preferred
Carriers & General Corp—i
1st preferred
27%
X106
99
32%
110
8%
317/a
»
i—25
—-
Rights
Cinn
.47%
54%
'
—
7%
14%
10 y4
\
AughsL,
/•'
High
Share
per
96
.
39%
8%
Low
$
12
98
7'/a
-.
44%
.
9%
12%
•,
130
54%
*
.
37%
41%
37
125%
.
10%
*30
42%
49% '
_r-
—9
——*
5%
.
12%
31
Clinchfield & Ohio Ry—.100
Carolina Power & Light Co
100
Carpenter Steel Co——;
5
Carrier Corporation
lo
$3
.40%
47 %
7
86%
30%
-
109 i/a
35
54%
,
32
109%
30 y4
107
30y»
40 %
Carolina
5%
26%
104%
557/a
3%
.95%
29%'
109%
8%
35%
46
$3 preferred series A_
6%
34%
54
Copper—5
Pacific Ry Co
Cannon Mills Co——
Capital Admin Co Ltd class A
(J I)
7%
109
■
87%
13%
99%
95
100
July
,
High
$ per Share
4
30%
"109
39
1
Canada Southern Ry Co
Canadian Brewers Ltd—
7%
27%
103%
29%
!
11%
•
H 9%
7%
104%
33% '36
;
Low
$ per Share
13y«
94
-
June
aWh
Low
High
$ per Share
11%
" 94
'
27
109
—5.0
„
Canadian
Case
83
31%
109!
32 %
96
'April
*: Low
13
92
:
90
-
26
109v
:9%
11%
.94%
>84
-
99'/a
1.66%
conv
14%
92-
32%
6
10o
-New
$4.25
10%
\
91'%
24%
Campbell Wyant & Cannon Pdry Co~*
Canada Dry Ginger Ale Inc——i_5
/
$ per Share
Low
«
preferred—.,
Callahan Zinc-Lead Inc
&
$ per Share
109%
*
Packing
5%
Calumet
94
109
Byron-Jackson Co
California
f
25 %
—1Q0
-High
March
Low
High
15%
75%
15
preferred—
Butte Copper & Zinc
Co——
Byers (A M) Co—
7% cum part preferred
February
36Ys
29
.
january 23, J §47
Thursday;
CHKONICLB
THE COIOIERCIA^ A. FINANCIAL
504
Tr•
r.
NE\y^QRK STOCK RECORD
February
January
STOCKS
Low
.
$ per
Consolidated
:
,
•'
Edison
$5 preferred
vi;/
5
6%
Inc—*
Coppermines Corp
Co of N Y
Consolidated
>
32 %
.Consolidated
Rights
18%
16%
—
$5.50 preferred—
Continental Can Co
Inc
$3.75 preferred-,
:
.Continental Diamond Fibre Co—
Low
$ per
$pef Share
77/a
97/8
6%
9%
7%
97/b
29 %
5%
26 5/a
29%
1063/4
243/4
273/4
105%
105%
107%
17%
213/4
6V4
25% X293/S
7%
25%
273/4
106%
107%
35%
34%
35%
33%
35%
32%
108%
109 %
105%
108 %
106%
25%
21%
24
17%
23%
19% X21%
18%
20%
18%
20
18%
19%
15%
18 3/a
143/4
16%
133/4
153/8
14
60
52
58
51
54%
50 3/4
57
44%
44%
47%
44
50
49
24%
26%
23%
25%
22%
24%
20 S/8
513/4
233/4
22
143/4
193/4
15%
173/a
39%
31
36%
29
33%
16%
223/4
17%
23
18%
30%
112
1143%
18%
45
50%
48%
52%
33 I
27%
31%
25%
29%
23%
27
38%
45%
38
44%
34%
40%
34
113%
115%
112% 113%
48%
52%
112
'
,
1073/4
106
-
115
112%
38%
Tin,
44%
39%
46
12%
45
15%
12%
17%
115
54%
19%
46%
16%
114
49%
107
104%
102
48%
39%
45%
41%
111%
113%
111%
113%
111%
443/4
48%
113%
105%
108
103
108
106%
107
40%
1133/4
35%
42%
112% 113%
%
343/4
-
57
221/4
17y4
1133/4
113%
47%
Xlll
445/a
42
%
13 s/a
17%
14%
101::
106%
1023/4
33%
42%
41 %
46
34
36%
393/4.
104
109
102%
109
21%
106
103%
104
X36%
383/4
173/4
19%
104
105
-
106%
108
106%
17%
19%
20%
113%
113
21%
19,
213/s
111%
38%
44%
1063/4
49%
42%
223/8
17
1133/4
163/4
;
107
y2
18
24
18
37%
106%
22
107
105
53%
47
49%
113%
112
1053/4
112
183/4
111%
47%
32
41
3/4
%
18%
19
16%
17%
15%
17
114%
113%
533/4
443/a
54%
Xl7%
28%
28%
106'%
22%
18 5/a
37%
45%
34
108".
27%
40
107
'
11%
8 3/a
10%
8%
10
8%'
10%
543A
46 y4
48
463/4
51%
10
50
12%
46%
13%
10
12%
10%
11%
34%
39%
33%
38 3/8
35
40
36%
42%
15%
19%
17
15
15%
17%
15%
18%
14%
16
15
16%
14%
15%
12%
15%
12
13%
55%
62%
55%
59%
56%
54%
573/4
53%
57%
52%
55%
53%
56
473/4
18%
23%
17
20%
17%
20%
18
203/a
16%
20%
15
18%
13%
16%
11
35%
38%
35%
45
44 %
47%
46
493/4
43 f:
46%
413/4
47%
39
45%
41% '
44%
44
61%
53%
57
23%
26%
23%
20% x23%
21
233/B
20
23%
18
22
26%
293/4
24%
283/4
25%
28%
223/4
26%
21%
24%
17%
21
14%
18
13%
163/4
15%
175/a
30%
30%
21%
22%
20%
26
25%
53%
55
54%
56
54%
553/4
53%
55%
47
535/a
46%
47%
49
46^4
49
56
23
55
543/4
65
17%,
52%
56
—*
-5
55
49%
54
18
18%
20 3/8
155/a
18%
13%'
16%
12%
14%
12%
14%
12 J/a
15%
preferred 5% series—50
Cornell-Dubilier Electric Corp.—__1
Corn Exchange Bank Trust Co
20
52
22%
62 %
57
53%
13%
543/a
19
55%
35
38%
5
17
63
17%
37%
40
24
*
Corp
$3 prior preforred
Copperwjeld Steel, Co
••
"
15
54
1
5
_*
Cooper-Bessemer
Convertible
5
Corning Glass Works——
3% % preferred
Corn Products Refining Co—
7%
preferred
cum
'
25
38%
3% % preferred
——
—100 107%
Cream of Wheat Corp.;
—
—2
32
Crosley Corp (The)
*
38
Crown Cork & Seal Co Inc——
—*
56
$2 cum preferred
*
51%
Crown Zellerbach Corp ———;——5
29
$4.20 preferred
—♦ 107
;
$4 2nd preferred
—• 115
.Crucible Steel of America
——*
44%
5% convertible preferred
100 110
,
Co
v
Cuba
6%
RR
Cuban-American
7%
Cudahy Packing Co———'y.
30
4% % cumulative preferred —
100
Cuneo Press Inc
—————5
1
100
2.50
preferred
4% %
preferred
Wright Corp
Prior
Cushman's
preferred_100
—*
Inc 7%
Sons
56%
17-;
54%
56%
543/4
56
48%
56 <;
50
55
52%
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20%
23
173/4
22%
165%
193/a
13%
17
123/4
15
X12%
14%
24%
64
61%
643/4
58%
62%
57%
61%
59%
62%
59%
35
36%
34%
39%
X35%
393/4
35%
38 3/a
33 5/a
38%
105%
106%
109%
107
109%
108%
1093/4
66 %
65 3/a
70%
1083/4
1053/4
1073/4
58%
65 3A
63%
12 S/8
633/4
202% 209%
203
10
10
12%
10%
12%
12 Va
143/4
5%
7%
5%
6%
6%
73/8
5%
6%
5%
6vb
4%
53/4
39%
473/4
43%
48%
45%
49%
403/4
48%
38%
107 %
108 %
107%
108%
107%
108%
1073/a
109 %
109%
32%
33%
38
44
38
41
/
108%
109 %
110%
5
y
60%
108
6%
323/4
34
32%
33%
28
32
28
33
33
303/4 X31%
28
30
29
30
20%
24
23
283/4
56%
48%
563/4
50
543A
42%
53
42%
48%
35%
42%
32
39%
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52%
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X50%
58%
54%
51
54
51%
54%
51%
54%
51%
36
34%
40%
35-
373/4
33%
373/4
108%
137
1393/4
523/4
109
107%
108% Xl07%
123%
135
135%
150
109%
49%
45%
110%
109
114%
109
47%
42%
54%
116
117
122
115%
43%
51
109%
114
99%
104
99
25%
203/a
26
146%
763/4
142
74
9%
12%
73/4
—
>
Corp
_—
34%
23%
"
27%
21
25%
18
23%
17%
22%
19
22
19%
21%
35
47
35
41%
37%
44%
95
99%
97%
991/4
99
19%
16%
19%
17%
18%
50
45
48
50
57%
165
105%
107%
553/4
1043/a
54%
52
66
105
103
52%
104%
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60
165
165
58
37
48
103%
98
99%
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17
19%
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45
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473/4
64%
103%
106
.
165
165
165
165
—
583/4
19%
24%
65
—-—2
2
Ltd
Distillers Corp-Seagrams
203/4
23%,
138
145%
74%
76%
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141%
76%
75
140
20%
24%
21 %
17%
19
13%
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142
128%
133
106
72
60
8%
7%
8
23 Vb
7%
19%
22
141
141
69
743/4
693/4
7%
53/4
——-100
preferred
Dixie Cup Co
A
—*
———
lll%
24%
29
24
27
18
293/a
21%
263/4
17%
22%
36%
323/4
112%
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112%
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111%
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111%
1
34%
273/4
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27
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22
29
19
75%
59%
70
52%
61 y4
48%
55
41'/2
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503/8
46%
52
40%
42
493/4
39
33%
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32%
403/4
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503/4
40
49%
393/8
12%
15%
12%
25 %
27%
75
76
77
26%
77
,
1053/a
27%
New
Ekco
16%
197/a
16%
21
48%
41
42%
21 %
17%
22%
58%
46%
55
44%
433/4
34
46%
35
41%
323/4
393/4
31%' 38%
38%
40%
40%
42%
41
41%
36%
41
333/4
383/4
35
36%
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42
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29
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75
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28
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24
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29
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40%
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45
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106
105%
106
105
42
31
35%
553/4
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40%
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563/4
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52
54
50
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41
43
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37
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313/4
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116
25
20
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192
170
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176
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19
94
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110
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100
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101% 2Qmj
130%
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194
129
283/4
25%
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28%
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111
110%
313/4
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45
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112% 114
166
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115
153/8
20
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96
106
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30
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217
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194
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187 V*
128
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115
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98;
123%
128
203%
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209
227
130
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128
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114
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L
203/8
102
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112
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118
28,
114
116
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17%
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19%
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116%
18
18%
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26%
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—
1
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199
:
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71
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248
247
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62
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256
196
,
69%
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—w
3
.....——*
19%
Power
preferred
&
Light
El Paso Natural pas Co
Rights
i--.—-1—^3
————
Empire District Elec Co (The)—10
.
—:
-50
Cum preferred 4% series
100
Engineers Public Service Co.'^.———1.
$5 preferred
$5.50 preferred
—•
$6 preferred
*
Endicott-Johnson Corp
s
—
footnotes see page 512,
46% "' 55-
——...
Emerson Electric Mfg Co ——.4
Emerson Radio & Phonograph Corp—5
y
7%
26 %
148% 166%
137 :156;
51 .
56%.
——*
...
—
6%
17%
*
Corp
24%
•
—
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Electric; Storage,.Battery
;
16%
77%
11
67%
Elec & Musical Ind Amer shares
Electric
.*
,,
—.
17%
74%
I?"
111%
112%
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213/4
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180
97%
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20
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26 Y*
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206
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259
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110
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111
33
109
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38%
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36
109%
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28
—
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205
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y
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209 •
60%
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209
40%
111
37%
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52
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111
1
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108%
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110
111
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121%
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13%
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51
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109%
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68
74
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78
69
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191
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101
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109
107
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25
110
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104
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114
109
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158
153
157
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159
156
167
51
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152
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51
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;
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128
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28
12
263/4
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22%
32
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75
108
85%
111
39 :;
104
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105 y4 108
32%
1
;
111
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80
106
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107
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107
383/8
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303/8
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79
33
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40
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106
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106
106
109
y
108%
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110
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:
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v
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y
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4
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15
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147
157
147
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151
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140
471/2
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f'
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107
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36
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110
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76
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v
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143
52
22
....
152
132% 139 %
169
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138
39
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54
53%
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103
112
50%
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8
170
53 ;
195
45%
271/4
1061/2
57
176
50
230
190
1033/4
6%
253/4
167
291%
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1801/2
25'A
25
102
9%
168
49%
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218
48
61%
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54
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194
7%
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54
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223
190
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23
50%
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,
'
164
25
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;.:75-7
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,
172%
19 S/a
160
43
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1%
r%
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24
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209
66
59
71
%
27%
116
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11
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126
14%
*
JIZ £■
18%
114
191
124
113%
116.,
200% 220
.
.
533/4
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127
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•
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51
226
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.
109 Va
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257%
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163% 18'2'vf
25
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129
•
31
215
5
33% 39%
.———2.50. —*
—1100 111% 111%
-
——
preferred
35
115%
14
17%
19%
223A
16%
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13%
231/4
29%
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141/4
28%
16%
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-
'
37%
253
60"
31
32%
108% 109%
—1
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193/4
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30%
' '
212
381/4
44%
204
219
183/4
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Electric Boat
33
,
157%
19
27
27%
231/4
261/4
23
110%
37'
35
32% 37
1821/8 200
1»XI14,
— •■
■
.^UlOO
—
33%
273/4
29%
48%
-52
111%
Stores.51%
(The)
50% X53%
51
57%
44%
47
114%
114
——
Stop Nut Corp of America
29%
52%
253/4 ; 293/4
91
18%
104% 105%
34
40%
28
31
22%
19%
54%
184%
64
Electric Auto Lite
28%
-
,
48
48%
*
>
19%
:31%
15%
30%
106'A
1061/4
107%
/it,16%
18y4.:o? 18%%>„..t,127%
23%!
23
1153/8
•
8%
26%
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17%
44%
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31%
273/4
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421/4'
49
7
285/a\
:
16
24
29%
30
6%
52
41
46
115%
28%
191
Products Co——
203/4
27%
114%
4
Y"' ."New
4% %"i preferred
16%
39
24%
53
77
85%
35
113-
12%
170
<..———100
preferred!
19
31%
111
44%
39
52%
128% 132
P—1
'Corp—i..—*~5.
—
34%
111%
48%
114%
Co
4 % % .*
30%
1103/8
v
<
Rights
Edison Bros.
113
423/4
167%
Co—222
Manufacturing
33%
28 3/a
Xl7
45
113%
preferred.——
6%
19
39
150
.
Eaton
16%
44% x'473/4
114;
,25%
3^/2
108% 112
Cigar Corp ——-—i————:.5> '
Eagle-Picher Co —————10
20%
Eastern Airlines Inc
—————1 105
Kodak
223/4
20
53
21%
D W G
.New
95
18%
39%
143% ,166%
30
.
91%
20'/4
58
49
x38
169%
183
Eastman
98 y4
17
40
27
105 Va
97
20%
46%
45),'g 'v
46%
109%
27%
97%
353/4
44%
102
29
22
43
32
83
25%
22%
13%
273/8
44%
28'
30%
20%
36
49%
,42%
'46%
26%
17
174
——J*
^Eastern Stainless Steel
6%
19%
129
129
44
91%' 34%
.29%
(E I) & Co
20
$4.50 .preferred ——.—
——...*
Duquesne Light 5% first preferred_100
1.
5%
18
20'/4
23
112
111%
67
'
Duplan Corp
'Du Pont de Nem
7'/4
69%
31%
18%
34
28
111
31
116,
29
83%
111% 115 •
25
31%
——
36%
113
34%
114
diVidend-—*
50c
.—100
5%
18
128
17%
23
24%
30%
26 y4
110%
30
74%
97Va
Conv .preferred 3%% aeries
Dunhill International Inc —
111%
31%
24%
27
25
26%
34
26
160
20%
128
26
22
64%
90%
*
6%
5%
17%
32%
18
30
Inc—————•
pfd series A $4
Industries Irtc
Cum
27%
263A
68%
25%
.
37%
21
111%
29%
28%
i
32
29
54
112%
ii3/4
—5
—*
Mines Ltd
65
17%
41
111
25
112
70%
128
333/4
44%
40
45
27
28%
25
26%
26%
243%
283/4
24
.*
/'¥ Doctor Pepper Co —
Doehler-Jarvis Corp
11%
10%
119%
G8
20%
58
—
13
105
72
6%
17%
145
138
10
13%
117
67
70%
36
393/4
43
37%
38
23%
29
23
40
35%
50%
16%
/
10%
103
126
243/4
63/4
20
47
14%
10%
15
75%
20
24%
60
131
144
74
8%
7
8%
7
203/4
65
96%
New
V Dresser
Xl6%
.
105% 108%
,46 :• 50%
53% 56%
——25
Diamond T Motor Car Co
*
100
57
77%
82%
63%
70
134
32%
42%
333/4
28 ' 35%
40%. 44->-w
43% 48
29% 34%
87% 103
—*
:
participating preferred
Co
37%
24%
;■ <: I f
—,
A——12,50
Raynolds class
Diamond Match Co
Chemical
933/4
27%
62%
193/4
32%
134
43
25
75
_——
Dow
31%
88%
23%
49%
136
10%
28%
30y4
43%
13J/8
Co
29
24%
27%
553/4
57
48%
58
18%
21%
140% 144
743/4
753/4
51
43%
(The)_10
Delaware & Hudson Co
100
Delaware Lack & West RR Co
50
Detroit Edison Co
-20
Detroit Hillsdale & S W RR Co
100
Detroit Steel Corp M&L*——•——-1
DeVilbiss Co (The)
—5
Aircraft
117% 122%
36%
101
89%
26%
113
18%
__
-1
—50c
—»
•
Douglas
1183/8
29%
104
24
165
47%
Dome
116%
38%
333/8
44%
34
53%
115%
51
32%
106
27
243/a
39%
121
132
45%
1045%
22
28%
103
110
109%
123
107%
31
43%
106
40
130
1073/4
53
473/4
105
23%
25%
35
107
35%
39
103%
105
31%
423/4
40%
1073/4
28%
39
263/4
104
103
47
32%
23%
37
110
108
40%
52%
30 y8
26%
39
37%
101%
30%
33%
28%
x44%
52%
25
40
43%
'46%
48%
32%
303/4
35%
112%
38
39
53
263/4
28%
40
114
22%
49%
48
35%
104
112%
115
363/4
39 %
54%
140 y2
129
44
107%
130
53
31
109 %
108
110%
43%
46%
28%
54
355/8
53
30%
122
42%
37J/a
Class
293/4
33%
35
51
108
*
-20
•
26
303/4
31 3/4
33
30 %
23% 28%
25 .,27%
—
.is*:
111% 113 1
_—
New
5%
101%
28
104%
295/a
101
104%
543/4
—
(The)
.1
(The) Co——3
i——100
—50c
Deere & Co
7% preferred —
Deisel-Wemmer-Gilbert
6%
43/4
393/4
38%
56%
Devoe
4%
34%
33%
35
8%
5%
37y8
36
33%
7%
4%
31
31%
X185% 189%
8%
33%
34%
51
45
'V
103%
104% 107%
110%
5%
29%
103%
753/4
67%
194
7%
37
31
40
188
9
4%
5%
4%
x33
196%
7%
39%
49%
113
—
J,————5
Decca Records Inc
.
70%
31%
53%
35%
-1
series A
Dayton Power & Light
4% % preferred
Dayton Rubber Mfg Co
.
66%
70
38
41
.100
—
Davega Stores Corp ___;
Davison Chemical Corp
"
531/4
26%
101%
191
24%
Cutler-Hammer Inc
{ Dana Corp
if: Cum pfd 3%%
283/4
105%
10
46
56%
25%
102%
60 i/a
200
190
53
29%
105%
663/4
585/a
56
53%
25%
104%
34%
27%
105
11%
10%
108
52
61%
209
203
11%
123/4
10%
14
108
65%
200
203%
200
210
202
201% 210%
108
106%
64%
.
61%
65%
61%
70
63%
223/4
24%
105%
199% 203%
122
21%
1
_„i
A
Class
55-
363/4
142
146
73
75%
7% lOVa
27 ■
31%
129y2 129%
*
$7 preferred
Curtiss
583/4
24
X21%
'
35
106% 107
50
56
.Cunningham Drug Stores Inc
'"/Curtis Publishing Co (The) ———*
v
56%
5
]
New
-
60
V
61%
31%
109
35
20%
55
23%
160
165
43% 450 %
99% 101
.—100
preferred
19%
57%
66
52%
25%
20%
^
36%
62
39
preferred—.100
Sugar Co
—10
non-cum
17
18%
26%
39%.
,
153/a
55
61%
42%
108%
35%
Crane
*
20%
33%
12%
7%
1
1
—
9%
57y
*
22%
203
199
J59
21
27%
67 %
11
6%
International Corp
Coty
v
55
14%
163/4
e
23%
19%
,
107
109
64% 70
100
-25
——100
Coty Inc.
,
.',,47%
109 %
48
1V-
113,
10
Continental Insurance Co
Continental Motors Corp-i
Continental Oil Co of Delaware
Continental Steel Corp—
..
7
High
$ per Share
34'/a
29%
47
—•
7%
Low
High
$ per Share
■
6
5%
34
December
November
Low
High
$ per Share
$ per.Share
8%
,
Low
Low
High
108 %
109
26%
,13% ^15%.
* 106% 109 Va
20
44
48 %
* HOV2 113%
1
8%
Low-
Low
October
September
High
v
High
$ per Share
:
50
44
Co-——-*
Continental Baking
?9%
August
July
High
Share
June
-y
38
37
—
—...
—
16%
112 A 114
America———~..20
of
Corp
Container
,
—
1
107%
38
39%
pfd—100
Retail Stores Inc
$4.50 pfd
Share
8%
9
34'/8
33
36
109%
19 A
47%
33%
-4
1
Power Co
Consumers
:
42%
30%
May • >
High
.
Low
$ per Share
21
32%
107%
—
17%
10
$1.25 conv preferredConsolidated RR of Cuba 6%
•",>
-C Consolidated
—
15
Corp
Vultee Aircraft
..Consolidated
1.33%
5
8%
10%
8'A
9%
35 /8
April
High
Low
$ per
High
$ per Share
$ per Share
109/e
108
-*
—
Grocers Corp_
Laundries Corp-*.-Consolidated Natural Gas Co__
Consolidated
*
Low
High
Low
High
Share
March
,
21%
17
20 %
18
39
63
76,
69%
74
67
71
104
107
105
231/8
.
104% 1081
107 Va
1013/4
105
103
103
108
1041/a
108
106
110
IO51/2
110
241/4
27%
104%
21
26
33
X102
,
305
104
110
104%
310%
165
; Numbed "4562
NEW YORK STOCK RECORD
-frrtr
''SR!':.
stocks
ZZ*ZZvZ:.Z\
'/**.•' $ per Share';
•
•
JEquitable Office Building Corp
Erie
RR
5%
Co —Z—
_„*
;
Low
March
High
4%Z'Z 5%
23%
17%
92
94
94
83"%
93
50
95
95
_5
18%
22%
17%
21%
17%
23%
32%
26%
32%
24%
28%
-
78%
3
58
63%
*
52%
10 %
9%
8%
61%
Fajardo Sugar Co of Puerto Rico
20
Farnsworth Television & Radio Corp__l
75
59
45%
10%
& Smelting
15
Co__
_
Federated Department Stores Inc
61%
54 Va
10%
27%
14%
21%
1
25%
23%
25%
111%
109%
(The) class A
48
50V4
44
43%
37
39%
17Ya
213/4
16 y«
19%
65%
76%
62%
735/a
X104%
107%
108
105
28%
34
28
63%
70
61
69 y«
79%
108
39ay4
69
35%
114
30
22 Ya
273/4
21
253/4
68
34%
105
107%
273/4
583/4
104
31%
59
63
41
113
45
42
50
18%
■<
16%
18%
40%
52
Xl6%
113%
52
19
57
18%
72%
79%
68%
783/4
69%
108%
106 Ya
108%
107%
62%
70%
60Ya
743/4
65%
108
58
69
51%
733/4
106Ya
62%
1063/4
19% X28
108
60
104
59
633/4
66%
107%
54 Ya
55
61
* •
53
16%
18%
67%
84%
79%
86
79
1
33%
42
39%
48
43
53
55
91
105
97
67'/a
;
90
38
41%
47
'
41 Va
47
27%
28
26%
27 y2
26%
27
27
32%
28%
35%
145
29 %
150
33 »/2
149
158
28%
33
161
55%
47
55
49%
53%
53
60%
5i%
45%
35
43%
37%
40%
39%
44%
1
10%
1
133/-
12%
15%
12%
xl3%
12%
8%
11%
8%
11%
9%
%
20
Galvin Mfg. Corp
19%
20y4
Gamewell Co (The)
Gardner-Denver
*
^
preferred
Industries Inc
conv
25
22
24
27%
22%
24%
25%
85
75
75
71
76%
78 y2
12%
13%
16%
12%
57%
65%
56
60
38%
46%
42
80
92%
88
78
JOO
101
17s/..
108
59%
60%
5
12s/"
jg2'
*
-
ZZIZZIs
Corp
Corp
Z
ZZ_ZZl00
1st preferred
60
14
17 Vo
107%
68%
12%
13%
188
184
19
107%
36
33 Va
37
17%
16 Ya
17%
16%
17%
22
24
21
24
12
143/4
13 %
15Y4
133/4
163/4
17%
106
84
92%
36%
43%
27
26
26%
30
26
31
181%
56%
f.
Xl7%
203/4
143/a
173/4
81
12'A
94
16%
15
71
81
75
86
31%
403/4
78
24
33%
19%
26%
273/4
25 Va
25%
19'/4
26%
26 Va
263/4
26 Va
26
30
203/a
26 Va
26%
22 Va
27
22%
26
47
52
45 Ya
52
189%
;'t
16 Ya
84
v
24%
54
593/4
50%
58
45%
20%
51%
22 3/a
17%
21%
163/4
17Ya
46%
36
16%
44%
31
18%
38
293/4
108 Y4
99
107
35 Ya
102
lOOYa
I2Y4
10%
108%
44%
110
106%
112
13 Va
15%
12 3/a
11%
10
II1/4
93/a
20%
203/a
21
20Va
107%
14%
13%
11
15Y4
20%
10%
10%
9
20%
100
7%
9%
13
10%
.
7
Y4
16
18
,
28Ya ":34%.
8%
101
12 Ya
9
8
22
20%
183/4
18%
223/4
17
20%
19%
15 y4
18Ya
22
21
18 3/a
24%
23%
19
10%
15
22%
20%
10 Ya
15 V?
83/4
11 Ya
27
21%
12 3/a
24%
20%
16
21%
* 19 5/a
24%
17
14 s/a
18%
21 y8'
17
183/4
17 Ya
19Y2
~8Ya
103/4
8
X413/4
46%
39
15Ye
17%
15
16 Ye
14 Vi
16 Va
35%
42%
149
;
17
14%
163/4
135/a
15%
13 Ya
15
60
671/4
56
~9Ya
601/4
14%:
56
60
43
55
18
20%
15%
18%
57
114
67%
24
18%
233%
124%
1361/2
21%
107%
191/4
21%
107 %
1073/4
68%
19%
193/4
141%
64%
68%
58 it.;
13%
12%
13%;
125/a
197% 200
194%
28 Vb
42
151%
145
25%
67%
200
13%
223/4
14%
601/4
'22
26 3/a
59
1181/2
194
23'3/4
15%
12%
24
149
107%
15%
14%
13%
36
61
11%
71%
194%
24%
27%
13%
15%
12%
51%
50
56
159
158
.'5%
117%
94
18
66%
20 %
14
55
xl3Ya
196
20
10
24
164
I
196 ;
22
18%
10
100
90
16 3/a
IO6Y4
55;
48
20Ya
90
14
10%
181
193/4
18s/a
48 H
12 Ya
190%
'
3/«
?
Ya
1063/4
62%
12%
12Ya
493/4
55%
108
107.
193%
164
'
213/a
107
27%
47
152
156
100
213/8
124
-18%
197
24
16%
17%
116,
19 5/a
12 y.
186 '•
1
55%
10 Va
180
•
12 Ya
190
14%
19%
13 Va
16
8'/4
11%
8%
11
13%
50%
164
7%
preferred
50
Cigar Inc
•
preferred
General
_100
Electric
General
Corp;;..—„
$5
preferred
General
Precision
31
33
178
28 Va
175
49%,
179%
33%
45%
1785/a
45
49 Ya
45%
50
163%
45
179%
52%
54%
48%
413/4
50%
55 Ya
46 Ya
49
37%
423/4
49
50
54
42%
50 Va
46%
50
43
131
135%
122
51
74
X128
130
180
44
123
10
•
131%
130%
133
130%
115%
70%
73%
132
128%
130%
20 '
33%
Equip
Gold
&
Rubber
Co
4%
5%
5%
6
5%
5Ya
18%
5%
20 %
6Ya
20%
23
23%
19Yb
23'/a
18%
..
__
.............
Ry
9%
8
8Ya
7 %
9
6Ya
35 Ya
7Ya
5
32
36%
29 Ya
6%
35
43/4
6
27%
323/4
22
5%
46%
40
47
39
x27Ya
201/4
24
40%
30
205/a
24Yz
x22%
35%
29 Ya
26 Ye
34
30
35%
30 Ya
33%
105
114%
125
121
35 Y4
116%
121%
118%
40%
121%
36%
1183/4
42%
41%
122 3/t
45%
41%
36%
43%
49%
37
41
403/4
42 %
47%
403/4
46
46%.
42%
44%
3Q
43%
34%
39%
108
109
110
40 %
110%
45 %
111
37%
118.
22%
108
45
110%
103
29%
56%
108%
39%
110%
108
...
i04
105%
3534
6%
ZZ*-
70 t
43%
51%
112
109%
112%
39
110
38%
42%
105%
71%
113%'
34(4 x39%
10%
16; ■ ^
6%
26%'
31%
34
12%.
105%
109
Z*
..1
—*
..*
-
109
%?
:
107
8%
6„
151
-
..
:6»;
79%
103%: 106%
60
>
Z".
;
17
57 y4
172
79
20%
109.;: 111%
36%. 43
:12%
15%
8%
21 ■~
29%
109
'
11%
71%
;
107;
>
41
59
:
6%
147
;
34%.:
72
Z
35
30% >•
20% ?• 23'
31%
108%
8%
451,
39
Me
108%
"
■
,
42
-
20%
37
'
108 "
52
m/2
13%
22%
108
;
*
30%
4 /4
78%63
-
113;
42/-.r
12%
102 Ya
11
11%
49 i
47 Y*
83%-
"32%
.
107
33
106-l
613/4
105
•
108
57^:
573/4
36
783/4'
■
:
11/
61%
110 1
105 Y4
393A:
33%
13 y4
9%
1033/4
67 Va
'
107'
39
106
63
1073/a
12 Ya
10%
10%
42.
54 y2
51 y4
20%
24Ya
243/8
39%
18Ya
•36%
40%
108%
34 Va
363/4
31%
108%
108%
1083/4
-
108
40
•
108% 110
73/4
9 Ya
50%
233/4
>
6Ya
•
413/4
30%
61
"
102
"
51
;
6%
83/4
643/4-
34
21Ya
7
12 Ya
34Ya
;
23
: 5%
z:
.
42 ,-;Z
103
34 Y4
108%
5Ya
X35
18 Ya
29%'
110
50%
106
,
28%
9
5Ya
473/4
18%:
i
76 Ya
105%: 106%
IO5/8:
8%
36 s/a
24 Vf
351/4
383/4
105 Ya
107Y4
285/a
32%
12 %
•
30%'
104%
35
615/a
:
1053/4
26 V*
108
19%
7%
...
6
36'4
..
15'/a
34%
28
■
7Ya
7%
.
6%
'
7
38 Ya
,41Y4
12 Ya
32%
101
55 Ya
107
21Y4/24
5Ya ;
6Ye
3854,
153/4
12 Y4
106
33
3;675
105Ya
25 Va
5Ya
6%
60
102%. 105%
-
61%' i 51Y4
50Y«
IO71/2/
123
283/4
67%
104
,
55
5%'Z; 6%'
II8Y2
•.34 •'/.
59'/2
102
53
118%;.
27
72
103'%"
;Z40Z';;r:49%'
6Y8;
.
116
33%
105 Ya
33% 46%
Z102 ;r!02
403/4
102;/:
38Y2 ,42%:
53 Ya
54%
5 Ye
98
30Ya
102%
106%
102
6%
39
96
35V4>
105
127
103Y4
303/a
393/4
43 "
118 Ya
;
'36%
106
107Y2
100Y4
57
63 Ya
35%
23%
44
30
x703/4
29
323/4
1053/4
56 Ya
6
:
;
"124 Ya
.
26
106
97%
423/4
7
33
32 %
102
lOOYa
-
Xl06%
<
33%
100
!
106 %
.
363/a
132% 143
423/4:
:
74%' -82
105
103Y4
61/4
108
35%
28%
423/4
--28 %'
,5
.•
..
101
57
6--
148'/
'■
34
105Y4
6%
32
.
1081/4
96
46 s/a
55%
36
78%
104'.
71
44
140
x363/4
>
7 Ya
6 Ya
73/4
34
137
"26
107 Va
103 %
39%
52%
101%, 103 Ya
105%
573/4
104%
104%
-
53
45Y4
103%
26 / ;
51% 5ei%
1023/4
150 »"
273/4
373/4
-
46
133%
39Y2
24'/2
105
101
;
52Ya
63%
<
33 Y2
32%
108 Y4
102%
103'*
56%
;
104%:
13%
39Ya
112
403/4
25%
52%
109
lrf0;%
J
44%
46%:
104%
v
105
75/a
39 Ya:
9V*-
1053/4
v
142
<
109% 111%
10%
3 2 3/a
64%
75%
37'
40%
108
4$r
108%
;
101
137
14%
28%:,33
105
101
/103%
123/4
18 %
19
57%
60%
188%
68
%&;•:;i7%Z19%.
32%
■87 ''•
30
32
176:
18:%
64
18 VI 15 Va
19%
61
63%
f
7
54%
30% 31%
Xl;75M79%
28%
.
186r
:
173'
•
62%
32V*
179%'
51
'
28
19%
'•
16%
41
60%
31
170
180
10%
95
22%
65
'
24 Ya
-
66'
;
64
85." <103:
:
8C'
98/ '
78%
90'
<
75%
85%
65
45%
51%
42%
55%:
42 Ya
48%
35
107%
107V2
107 y4
107Y2
106
451/4
30
42
109
52%
12%
101%
54%
.
110%
42%
49%
10%,vKlI%
109
.
;•
45%
67
109
.
:
50%
68 Z"
70
•
-
95
99%
03
97
42% 49%
9%:- 11%.
93
97%
22%
25%
76%
;
25%
22
26
17%
22%'
65
68%:
61
70
52
73%
78
.
v
ft%
72
?
-
10%:
77 %
71%
64Ya
67
37
8 Y4
90
64
10 Va
96
-
t-
Z
'
17%
52%
40%
28
1661/2x172
92%
72
.
18
•
:
64
77%
24%
158
18%
18%
17
48
158
165
c
.
55
56
60
6ii:
68%
76%
61%
72%
....
22%
24
158
169.
'.65;;Z,65'
:66
.
•
-•
\15% '
20%
(
44%
: 108 Ya
33
102%
40% :
104
34%
102%
104%
38 -
?6
63/4
85%:
'8%.
:5%
88%
84
88
80
9%'
16%'
10
13%
11%
14
41
38
44
67%..
:59%.
21%
It
50%
58'/a
37 Ya
514
75%
72%
77%;
56%
73%
32%
8%
'
24%.
6%*
.
'
20%
36 Ya
37%,
„
*
•15 Ye
;40Ya
X102Y3
31%
62
104
V 23%
273/4
30%.
/ 8% i J
6% 8%.
86 v i,. 80 Z x91
.
•
V
i
1234
12Y8
-
35
13%17%
43%*) 51%
22%
27%
26%
167
13 Ya
33%
.
173/4
63
111
42%
67
57%
68
L10
46y4
::
-
10%-
42 ;"
103
117%
X32%
108%
56
110
56%
6Ya
76%
'
39% .44%
:108% 110
99
88%
103%:
77
37 V
_
31
44%.
109 Va
r
6
46%
108%
105
101%
44
Y3iy8
i
v"
60
58
136% 140
s
•
34 %
112
57>
72%
11% "13%
8%
.9%
21%:
34%
57
so
.
110%
37%
73%
55%
102%
•
73%
1053/4
•
105 Ya
39%
107
60 y« v
37%
•
63%
140
86%.
103
40
45%
,30%
L82
63%
88
:
36%
9;y1
"
110
107
-
104%
106
108%
117% 129%
137
; '
177
70%
70
7%
39%
,
111
106% 108
64%-
53%
132
99%
109%
47%
-
6
149/
36%
59%
55 /
56
,
47
108%
42%
103
43%
145
-
42%.
57
108
121»
\
'
ZZ
58%
105
38%
.
54-
%Z 34;u:;- /31;.:/-
1
45
56%
36
;
58%
104%
150
102% 104%
79
40%
104 v ' 1047/a
6%
Z
-
*
*'8
.Jjl*
71%
0ull Oil Porpi.0.—59%
512
104%
'54%
l
_»
Grumman Aircraft Eng
Corp.....—1
Guantanamo
Sugar
Co.
___1
page
108
44
29%
•
49%
36%
8%
150
151%
35%
42 J "
323/0
'
Z
36%
Prop:..
—*
preferred—.*
Co.—,
39%
447^
55%
„__100
—
33
104% 106..
x44%
19%
:
-v
108
63
42y2
32
preferred——
28 Va
104%
5
Inc-.U____
For footnotes see
112%
43
Va
%
36%
Co..
RR
16
4s
Tap &, Die Corp..
,w_*
Greyhound Corp (The).*■
Z 4%%
preferred——J..—100
Ohio
126%
40%
,__5
.....
6%
119
130%
373^
.100
ZZ
16 s/a
29 s/a
8%
38%
Greenfield
&
141/4
26%
31,
30%
(H
issued
4%
141/4;; 163/4
245/a
36%
Bay & Western RR Co.—.100
Pjefewed
143%
17 Ya
30 Va
141
9%
l
preferred
Mobile
14Ya
25
40%
Green
convertible
19%
33
138
•
18 3/4
24%
3%
35%
Ore
Sugar
Co
149
15 Va
27%
40
146
16%
22%
,
45/a
8%
Green
L)
33
148
3 Y4
28%
Co...
pfd*..
Western
21%
44
/
.
26.
4
37%
no %
....
Northern
36
146
18
21 Va
2Ya
29%
Co.;.(The)
Great
48
146%
15,1
27Ya
4Ya
38%
—1
Co——
conv
423/4
146%
18
22
3s/a
26%
preferred
preferred
48
150
15 Y,
26 Ya
22
5%
-
103
35%
_
Steel
42%
150
34 Va
4%
19
127 l-
1015/a
203/4
39%
Hosiery Co Inc.*.—
cum
When
10%
'.
46
150
28%
6
543/4
1243/4
33%
Telegraph Co.:
...100
Incc ull
—■ 10
F) Co__..__
1
2
•
City
33%
21 Ya
Va
116%
48 Y4,
'
26%
Stock
Great
Z:*5
8%
149
16
114
53 Ya
128
33
*
Northern Iron
Gulf
11%
41%
147
121%
473/4
125 Ya
51%
130
39
__50
preferred
Brewing .Co—
Great
$5
42
38%
147
114%
-
61
45%
46%
33%
»
Grayson-Robinson Stores, Inc
7%
46%
144
9
120
50
41 Ya
vl264--
29
5
(The)
Union
$2.25
39
142%
10%
50%
;v: 130 Vb
38
29
•
Inc.
(W T)
"v'3%%
7%
46
130
125% 128
26
43/4
20%
«•
Graham-Paige • Motors Corp...
Granby Cons M S & P Co Ltd
Grand
28%
6%
21%
100
——
Grant
37
4%
...loo
$5 preferred
Goodyear Tire & Rubber Co.—
Granite
■
23%
18%
5
''
Gotham
30
73%
273/4
39%
50
v
29%
165
33%:
133
45 1
135
.
130%
*
preferred
convertible
37%
34%
25
64 Ya
128%
7%
Goodall-Sanford
$5
2i%
74%
130''
47%
100
preferred
<B
69%
129-;
133
20
Corp
convertible
Goodrich
75Ya
129 Y«
22%
preferred_Z_*
—...
-
70
127%
273/4
160
46
128%
543%
119
X25
39%
49%
134
118%
30
164
*
3%ft
cum
preferred
Gillette Safety Razor Co
Goebel
29
1303/4
122
5Ya
ioc
preferre|
Co
76%
129%
135 Vb
117%
t
273/4
156
114,
51
133%
120
41%
100
Instruments
$4 50 preferred
44 Ya
134
116
181
78
45Ye
•
1
General Steel Castings $6
General Telephone Corp
4%%
46%
131
,
20%
;
Bros
42
51%
*
Corp
New
24%
36
49%
:
5
-
Glidden
26%
x36%
174
10c
6%
preferred
General Realty & Util
Corp
General Refractories Co
Gimbel
71%
Xl28
177
44%
119
80
128%
1301.
174%
132
120%
70%
23 y4
Convertible
182
115%
80%
39%
$5
178
*
Co
74 %
v42
40
44 y8
54%
34%
48
53
20%
cum
38%
48
53%
33%
4%%
79
43Ya
33%
45%
40%
Tire '&
75
38%
37%
49%
175%
23%
General
80
39Ya
34
56 Va
34%
Time
393/4
52
180
20Va
4%%
34%
36Ya
49%
Z*
General
39%
76
45 V4
45
175%
Corp
General Public Service
Corp
General Public Utilities
Corp
General Railway Signal Co
Shoe
36
87%
55 Va
•
Rights
40%
79
x35%
50%
Inc.
General
31%
90 Ya
47Y4
52 JA
...—
Adv
177
35%
45%
Preferred $3.75 series.
Outdoor
32%
«
Corp
General
35
171
Mills
Inc....
Z.ZZZZ*
5% preferred
100
3%% convertible
preferred,.?,
100
Genera1 Motors
•
32%
_•
Co—
Foods
General
87 Vb
45
General
43
24
393/4
12%
22%
144%
34 3/a
16%
48
67
11%
44
37 Ye
1071/a
23%
14
15%
20%
29%
106 3/a
21
66
26%
,17".
,313/a
108 Va
42
12 Vo
11%
152%
19Y4:
-
,
25 Ya
106 %
47%
60%
188 ;
X23%
'
16
109
27%
107%
65 \
1534
33%
20%
60%
;
20 Ya
}
62 Va
18%
27%
139
98
463/4
9%
107%
24
*
preferred
68%
20
80
115
133/,
•
Class A
19
107%
437
59%
56
26%
56 l/a
117
.56
IO8Y4
56
42
21%
17%
'
108
5
Co
iqjt„
.
26 Ye
52Va
26
72%
13 Va
56%
14%
63
51
1
12%
-
106
,
.
'105Ya
52
18%
54%
50
18
21
53Y4" ,52
60%
11
23%
1.66%
•
2nd
14%
13%
X23%
351/,
Transport Corp
convertible
22
29%
55
$4.50 preferred
Baking
26
I50
Corp
New
Cable
23
l
5Va% convertible preferred
General American Investors
General American
__
x23%
20
preferred
Container
$8 preferred
General
Bronze
__
■»
Co
convertible
20%
/4
17%
20%
19
3
15%
103
104Y4
106 Ya
' 31%
33%
25
•
26
/ 61 Ya
56%
1%
__
preferred
17%
104%
43
13Y8
22%
<
51
21%
n%
9
14
97
21 Ya
27
182
105%
(Robt)
18%
107
88%
99%
43%
28
Rights
21
26%
75
47
100
Gabriel Co
27
39
77
37%
27
49%
1
25%
19
72%
353/.
163/8 xl8y8
28
98^
27%
146
193/4
25
62
29
15 Ya
/
45
,
49%
27
18
37
43 Y2
11 Ya
106
57% '
17%
107
19Ya
45%
50
643/a'
1073/4
25 Vb
35
18%
23%
94
233/4
1123/4
20 3/a
67
38%
26%
.
18%
28s/a
105
42
16%
100
39 Y4
51%
60
105
77
88
27%
33 %
47
65%
72 y2
25
23%
1123/4 113
54%
27
#
28 Ya
35
40Ya
111% 114
Xl77/a
60 %
18%
.100
46%
1133/4
54 y4
:
56
105%
107
4OY4
/;
104% 107
24%" ;:20%
23%.
49
573/4
107 3/a
'
24 Y2
403/4
44
108
21
52%
58%
18%
94%
cum
55
16%
46
15%
Fruehauf Trailer Co_
53%
45%
44
____io
3774
113
19%
21%
'
46%
113%
18
50
1
42%
113
19%
16%
IZIIIIlO
preferred
45%
113
114%
42%
142
cum
24%
653/4
8 3/4
:
23
13
32 Ya
17%
preferred
4%
10 Ya'
58 %
46
cum preferred__100
Freeport Sulphur Co—,
2.10
Froedert Grain & Malting Co Inc
1
4%
12%
'
.
27 Ya
73/4
101 Ya
10%
;
60
22 %
H
104 %
15%
28%
108 Va
101 Va
43
63
83%
1013/4
41
33
11%
Sugar Co
7%
100% 106%
;/37
293/4
65%
233/4
41
56%
108%"
213/4
213/4
38
63%
76
223/4
104%
ii;g
23%
51
33
34%
62
93/4
55
35
28%
107
25 %
7 Ye
11%
60
80%
x21Ya
10%
34
65
65'/a
47%
253/4
42
32%
108%
57%
8
29
61—
41
Franklin Simon 7%
General
20-
49
21%
42 Y2
Z-j,1./*' ,7%
173/a
14
107
22
41%
111%
5934
16%
*
34%
115
49
»
General
105%
63
27
39,
8%
233/4
8%/
90 %
x23 Ya
;
40%
7
35%
28%
«
Foster-Wheeler Corp
cum
108
*27%
39 Y<
28%
106
9%
90y2
i:
45
x32Ya
31%
57%
64
107
42
Z;
8
24%
107 Va
64 y4
-
107%
108%
54%
84%
i
.
105 /
49%
37%
61
35 %
__Io
Machinery Corp
4%s
107%
50%
42
20
109%
11WU
7.50
,
____
Gaylord
22
49
33%
55
*
...
Gar Wood
25
22%
105 s/a
17%
68
108%
•
$3
21 y8
33%
80%
*
5% convertbile preferred
Food Fair Stores Inc
New
6%
50
135/a
19%
'
«
Follansbee Steel Corp
Gair Co Inc
74%
34%
105
36
26%
51
108
43%
10Ya
-
39%
10%
29
106%
343/4
37%
23%
47%
107
21%
14Ya
'15-
73%
31 Ya
28%
15%
75
25
12%
29
:
39
23
49
\.W
28
58
15%
14%
67%
121/4
44%
213/4
28%
26%
55%
,ioy»
/17 %
13%
44%^
:■■■
13
20
27
14%
50%
10%
16 Ya
9%
46%
64%
14%
20%
11
26
•.
93
61v:
26%
2Ya
13 y4
hoy2
15%:
80
110
.
1153 %
10
68
24
13%.
60
'
90
11%
105
2%
24%
85
26
Z
17
10
111%
10%
50
56%
High
$ per Share
3%'
2
Low
v
103/4 xl4ya
71
29%
15%
9%
48
91%
"
53
61
,
30%
9%
3%
12
'
,
88
22%
110%
111
14 y8
65%
11%
ri°B
111
,18%
32%
18%
57%
*
9%
71%
,
23/4
December
Low
High
$ per Share
39
593/4
30%
X66
Co
Florsheim Shoe Co
conv
54%
75
93/4
55%
November
High
13%/ 17 <
233/4
283/4
50 %
60%
16%
281/2
_100
Florida Power Corp
4%
41%
54%
28
lo
(The)
prior
55%
9%
16%
3%
«
$4 preferred
Florence Stove
New
15
25%
70
Low
$ per Share
50
19%
32:
51%
9%
71%
October
High
2Ya
75
x903/a
17%
September
Low
$ per Share
4%
13%
64%
:
28
14%
25
Firth Carpet Co
78%
46%
16%
30
Co of N Y
75
20%
30
106
Firestone Tire & Rubber Co
4Ya% series preferred cum
First National Stores Inc
80%
78
3%
54%
r%
1
Fidelity Phenix Inc
'
5
18
32 y2
27%
IZ_I6o
;
1
81
2%
15
17%
14%
*
4% % preferred
Ferro Enamel Corp
38/a
19%
,
29%
28
15%
*
...
17
50%
15%
41%
2
_*
—
76
19-
35%
24%
5
.
Co-
2%
19
33%
19%
22%
Federal Motor Truck
16
August'
High
Low
$ per Share
51
62
110%
Federal-Mogul Corp
4
/
High*
58%
%
.
3%
Low
$ per Share
27
32%
26%
6%
17%
July
Low High
$ per Share
4%
17%
79%
17%
$0 preferred110Y2 lliy2
Federal Mining
Francisco
77
54
9
63%
Rights
Federal Light & Traction
June
High
46
2%
Fairbanks Morse & Co_.
Low
$ per Share
93%
1
Exchange Buffet Corp
Food
83 %
93%
-
May: / i
High
3%
16 »A
X19%
5
Products Co
Ex-Cell-O Corp
Flintkote Co
18%
;
Eversharp Inc
New
Low
$ per Share
4%
16%
22%
83
3%
J
Pittsburgh RR Co
Corp
April/
Low:/High
8 per Share
$ pevShare
53/.
17
100
Eureka Williams
Evans
3ya
*
preferred series A
Erie &
uTw'Sh:
;■■:■;'>
February
•
64%
•v
15Ya
•:
13Ya
39%
48
59 Ya
64 y4
•
vV:
THE COMMERCIAL & FINANCIAL CHRONICLE
NEW YORK STOCK RECORD
March
tow
:• April Low High
.
High
$ per Share a
36 a
37
331/4
4
omit,
22
40 '
33
37%
30%
$ per Share
38
Jm'mrn
'
'
241/4
23
111
1121/2
112
119
1071/2
111
107
1Q9%
25
30%
.
:
23
26
160
160
38%;
-
w_
48 %
13
46%
141/4
102%
541/2
15%
131/4
103
100
99
13% '
151/4
121/4,
14%
I26V4 145
—
261/2
13'/a
20%
121/8
14%
145-
-
175" •;
Vf, -C;
32
A -39%
108
109%
82 %
190
il 84%'
191
►
32
--
35%
120
421/2
109%
85 /
82 1
191%
188%
32%
137
36%
143%
132
721/4
65
135%
82
138%
i
136%
•
85
137%
32
34%
70
99
143
38
39%
34
•
84%
30%
35%
35
59%
"
36%
29%
139
1391/4
—
144%
25%
•
37%
IO6V2
-
41%
71
81
-
20%
17%
87%
88
44
50
1061/4
107
106%
107
107
107
131%
142%
129%
136
130
144
170 "
170
168%
175
176
111
120
119
100
1 120%
'
1761/2
125%
48%
47%
54
109%
X106%
109
10%
13%
10%
11%
15%
20%
15%
17%
10%
15%
46%
52
107%
110
197
215
87%
100%
Xl91%
198%
35%
108
200
11%
17
211%
86%
93%
198
201%
10%
13%'
10
>13%
29%
33
29%
32%
37%
136
44%
40%
140
53%
114%
x48%:
54
132%
111%
112%
51%:
54%
110
112%
108%
113%
140%
154
154%
167%
141
153
134% 140
22
96
40:
107% 109%/ 107
29
23%
99%
94%
39%
For footnotes see page
512.
/
46
-
Thursday, January
23, 1947
vVoIume 165
Numberf 4562*
THE: COMMERCIAL & FINANCIAL
CHRONICLE
507
NEW YORK STOCK RECORD
-
January M
STOCKS
/ft,.
ft.ft/ft ft/'
'•
Kresge
(S S)
Kresge
Department
/ft,/. New
Stores™
(S
H)
&
'
Consolidada S
Preferred
Lambert
v
Lane
■*
A
—•
Co
Li
6%
certificates™*™!
^j\ 83 non-cum 1st preferred
50c
2nd
non-cum
Lehman
Lehn
Savers
.Series
1%
31/2%
56%'
48%
39%
48%
41%
v
:
'
73
37
'
46
*.
12%
16
55%
'
70
4
78
65
53%
60
;
57%
58'A
57%
•
57
26%:
27%'
62%
74%-
12%
14%
12%
74%
14 '
33 1 ;
;
36%
95
88
90
.
197%
86
96
201%
r
86%
69.
81%
68%
66
60%*
65
28%
36
'
32
27%
37%
__*
aeries -A
;
43%
61
" 118%
116
*
»
:
(The)_l
Mahoning Coal RR
Manati Sugar Co_i
35J/a
Co
117% '
37 '
*
34%
15%.
12%
56%
61 %
29%:
28 :
40 %.
70
25
31
26%
32%
72
86%
76%
31%*
26%
186,
195%-
29%
26%"
195.
,
186
194
.
28
29
62 Va
72%.
61%
68%
ZZ
30%
22%
29%
22
31%
*
.
42%"
157 '
36
'
40%
'
36
159 "
.
76%
65%
51"
75.
44%
110
38%
50'A
EZ.l
44%
111
38
34 " "
28%.
25%
30%
8
"9%
Co__—1
4q
38%
110
15%
.
ZZ*
Robbins
Inc___
»A
40% '
55
59
.
35%
55
f
,
Co
cum
30
Mid-Continental
Steel
Co_—
117%
6%
10%
12%
36%
8 Va
3
6%
8%
2%
'ft 3%
.
2%
r38
:: 38
25 Va
19
'6%,
18'A
54
10%
12
43 %
-•ft-6%
8%
2%
—
'•':22 ?
53%
40%
'ft/ft
-
15%.
52
49%
■:
3
■
—
—
,7%
7%
42%
48I/2
44 Va
•18%;
26
21%
6%
47%
.41 Va
21%
24%
21%
24%'
?
8%
6%
21%
28%
22%
25%
43
49
46 V2
ESVa
l?Va
10
33%
PLO
10%
29
28%
34
31%
U%
33%
3f>%
33
'
96%
83
89
83
91/
91
ft
95%
93
97
ft
85
93
92%
96%
193
93%
99%.
84% .91%
187 :• 200%
97.
204%
;
'
191
195%
187%
183
52
40
44%
38%
39%
37%
41Va
68
46%
61
44%
50%
52
47
52
52%
49%
44%
53
43
49:
44%
49
47
36
42
31%
551A'
38%
33%
39%
39%
43% '
41%
48%
23%
26%
31
•
-
"
36
42
24%
31%
23%
110%
106 %
x37%
:/44 .-ft
28
104%
'
120
115%
36%
303A
109
35
75
82%
" v
80
34%
91%
"
76
35
.
29%
26
.
46.* *
112
•
"
28%*
189
-
30%"
194
.
•.
-
30%
25%' 29" "
189% 193- •
28%
•
67%
"
87
-
36
32%
43%
105%
22%
24%
21%
76
56 Vx
26%
40%'
;
42%'
32
26%' 30% '
26%' .31%
66 i
103% 107
23%
"
,
20%
29%
19
25%
28%
25%
25%;
28%
69
76
67%
74%
23%
19
23
23%
X20
53
111 Va
110
63" ™
58
29%:
-65
27
25%
69
197
20Va
42%
160;
26
39%
.
23%
59%
24%
34
41
39
71%;
54'A
67' i
45
50Va;
58
483A
54%
41%
1081/4
110%
.
40%
L-
—
X109%
110%.
51'A
•
32
29%
30%
•;
22
27%
72%
19%
23.Va
X45%
78%*
17%
14%
17
29
20
23%
50%
26%
2OV4
99%
16%
14 Va
18
32
,
.
34
34%
;
48%
40
.109
15%
23%
100
97
14%
16%,
35% 1 38,,
38
140
142
51%
39
44
46
■
37%
45%
X39%
44
109/
109%
107%
109
106%, 108%
.
.
20%
153% 155
38%
X27%
521/a
4&
103
14
21 Va.
171%
25
25
101%
55%
12%.
20
166
98%
ft
109
23
25%'/ 27%:
45%.. 52%
52
23 Va
29%'
26%
;
16 3A
j
.
39%
*5%'
525
520
520
!
522
14
43
15%
13%.
15%:
13
23
'•
25
25%
46%;
21%
24%
21
23
41V*.
46%.
37%
44
38%.
5%
6%
5%
15%
41%
9%'
ft.
49 Va
v
10%
14%
12%
39%
45
'5%
6%
48%
•44%
57%'
17%
53%
•56
112 >/a
37%
v
26%
23%
26%
61%
61
75
66
40%
39 Va
29%
-31%
28%
34 VA
196
196
23
197.
VA
42%-
31
201-;,,
51%
68%
36 3A
201-
f
201,
.
9
42 '
41%
26
30%
24
65%
70'A
62
40
38%
48%
"9%
18%:
12%
:
28
33Ve.
27...
14%
17
53
54
115
115
111
62%
56%
33
37%
33V4
4%
6b%
55%'
70
112%
54%
62%
110
108%' 111
7%
11%
50%
115
-60%
115
59%
111 Va
112
13%
48
34
40%
30%
36 VA
112
31
36%
68%
65%.
69%
55%.
68%
5*4%.
110%;
104
39
43
33
41
32
38
111%
122
112
118
15%
.
31 Va
•
.
7%
:
31%
8
:
3%
4'A'
12%
11%
30%
33%
.12%
;/ll%
37%
113/
X109%
31
38%
32
37%
13%
50%
16%
X15
55%
34
30%
27%
30
25 '
30'A
r8%12%
33%
112%
32
17%
56%
.
-
28
56%
49%
110
105
12%
9%
45%
113
j.
35%
30%
'
28%
45%
53%
45%
103%
107
951/4
97
11%
10
12Va
48
47%
48%
49
111% 113%
111
115
42
49%
44% -50
31%
25
104%
111%
105
63
204%
96
50%
113
55%
107%
.
25 /
■
•
35%.
17%'
:
51%
28%
31%
26 VA
200
25%
.
36%
109%
12%
•
112
58v
111
"7%
*
48%
9%
112%
48,
.
4%
/
38%
109%
45 Va
52
112
59
41
8
204
50
109
V
38%
28%
64%
12%
37%
38
,36
3%
61
24%
54
50%
71
•
16
30%
;22
15%
X202
115
12%'
26
11 Va
.44%
Xl09
40%
55
13%
15
30
7%
9
35
;;
110ft
20%
16%
.
11% /®1 QM;
26
"
59%
112
9%
13
30%
4%
—4
9%
14%
37%
60%
12%
15%
.16%
.
3%
94
118
55%
3%
203
50'/a
fifV
5%
42
15%
115
?8%
15
40
36%
32%
202%
200% 201
55
115% 116
12%
21V4
43
28%
13%
114%
15%
14%
109%
41%
37
45
40%
33% x37%
36%
203 V2
108%
19%*
13%
'8%
"68
50
111%.
17%
17%
13 Va
.
111
53%
69%
108%, 112
:
20Va
15
526
4%
-51
37
50%
63%'
141/4
16%
34;:
97/a
50
58T4
Xl7%
19%
17'A
19%
16
.
110%
52%
110%
110%
71 %
201
14
16%
14%
12%
;
'6%
14%
28
r
32%
.
iOVa
16%.
45
'
'42
22
55%
34 VA
'9%
14%.
112%
38%'- 43%'
14%
20% 1
17%
v
9%
14%
48%
42Va
46% '
103
ft 50
104%
93%
9%
•
96%
11%.
? 50.:
113
X42%
46%
105%
38%
.32%,
51%,
28%
,
llsv,
113%
41J/„
33%
40%
33%
35
33%
38
65
69
69
50%
116
43%
30%
116%
119%
114%
116%
'46 %
39%
44%
39%
441/4
47%
38%
45%
35
37%
40%
36
42
37%
39%
48%
44
61
65%
60
65
61
65
49%
48%
54
50
X56
46%
107
29
116
116
34
107%
25%
119
113%
53
106
106%
108%
26%
120
32
116
60%
120
31%
34%
29 Va
125%
56%
104%
139%
127
104%
35%
31%
63%.
47'A
104%
136
54%
33%
132%
116%
119
x30%
51
46%
46%
107
23%
22
25%
24.
28%
26%
29%
18%
23%
19
22%
19%
22%
19%
22%
34
32%
36
31
35%
28%
33%
29%
23 J/4
28%
23%
27%
22 V4-
27
-i
ZZ
Vs
7/a
105
108 Va
105 Va
106%
106 V4
1061/4
106%
108
105%
107%
105%
106%
106 J/4
106%
.
■
.
ZZ
104
43
44%.
25
76
23
27%
22%
26%
70
87
42%
„
48Va
,
52%.
48%.
81%
70
78
42
25%
34%
79
•
297/a
45 Va
--
47%
52 J/2
47
ir
37
Reg Co
i„3
4% convertible preferred series B100
-'.4%% preferred series C_—:
100
4% preferred series
D/__——__il00
3.20% conv preferred series A__100
31%
R01/
50
'112
80
82 /#
21 Va-
5^'
98
-
112
110
'
•
14%
51%
25%
50 >/2
*59%
36
54
54%
35%.
54
58
.
v
103
571/4
45
53%
43 Va
43
22%
26%
20%
26'A
531/4
58
i;'-
.
26%
33%
^'
25
;
.
31
20
•
74
;
59
77
106%
IO7J/2
*61
53%
112
X109V4
15%
18
58
165
40
:45%
40
53%
"
58'A
166
159 %
88
X70
,
2IV4
18%
21s
681/4
61%
671/4
liO
ft.
110
;
110
.112
;>113 ; /
109% 109%
68
52
1091/4
57
39
ft
57
45
r
172
168
73'A
.
491/2
'30%
173
:
112>. 115;/:
111%
114%. 115
;
114% 115
>
17%
58
112% >117%
114% 118
50%.
23%
26%
23%
25%
18
22%
19
73
61
69
19V8
22%
18%
21%
'18%.
20%
41%
39%
44
40%
42
40%
45
62%
58
54
68
110%
.
ft
66%
100
57%
56
109%.
40
107
397/a
49%
112
61%
101%
ft
107
X32%
38%
331/8
37
32Va
38%
38%
36
431/4
145% 160%
•
55
-
140
150
36%
•
48
:
37%
140% 146%
48
75
66
100%
42
45
14Va
32
25
.
97
108 Va
50
v.
104
11
42%
38
40%
65
104
37%
61%
44%
20%
12%
10%
166%
54%
100
109
13%
ft
104
22
45%
Xlp4% 106%
.13%
34
33
144%
16
39%
40y2
150
53
15%
18%
13%
17%
io Va
15Va
"9%
12%
IOVa
13
11%
10%
14%
13'A
56
20%
,68
115 V,
103%
47%
66
10%
57%-
103
49%
72
15Va
160
67%
107
26
39
:
.
26
12V2
43%
103
X45%
21%
36%
112%
111
53%
56%.
92
63%
110%
106
10%
18%
65
109
42%/'47%
437/a
67:
66
•
45%.
109% ,111%
13%' 17%
17%
.
169%
77
25%
61%
61%
49
78
32%
107
111
15%'
26%*
114
67 %
106% 107VA
108%
20%*
■
t
*
52
105
62
99
42.
47
106
:
82%
105 Va
57%
* 42/
160%
:
-
55
561/2
H2
•
57
165
82%. 85
110
"
30..
*94
67
—■
__
109%.113%
15%
I8V4:
16%
*36%
162
93
• ■■
*
31%
163
51%
:
,
53% -571/2
X108%112
18%
35%
61%
:
20%
•
563a
hg
•
159%
lfJ?a
114
GO
111
14%
,
ikha
0
Minneapolis-Honeywell
97
48
—
--
109%
111
10%
397/0
59%.
28%
49 %
51 'A
108%
53%.
32%
90
103
__
543/.
.
587/a
r
29
38
51
107%
52
51
431/2
104
28%
27%
26%
108
47%
40%
102
22%
30 VA
106%
50
45%
106
21%
30%
51
39%
103%
22%
25
108%
46
41
104%
119
25
104%
"
,
20
26%
106
*:
24%
26%
104 %
52
47
105%
20%
20 Va
107%
X26%
27
24%
108
102 %
33
30%
107%
22
29
103%
36
26%
30
25
107%
32%
31%
44
19%
104%
34%
26
41
24
107%
30
32%
54%
26 %
103
37-ft
106% : 103
26%
b/4
.
50%
45
104
108
30
23%
41%
38%
52
54%
108
27
116%
36
31%
62J/2
■
47%
107
107
114
.40
2q%
«i/„
64
551/4
63
48
56%
45
55
53%
61%
58%
641/2
**"
—
—
mm
»
.
T
T
T
— —
r-
.
12%
*—•
'
Mfg Co_—«
'
Minn-Moline Power Implement Co____l
1T9
.
.
-
New common _L^_i—L__—LL
5'
preferred series A__
Preferred, series
$4 preferred series C_"_—iALi—Z—*'
$4.50
:!
__
115
sei;
T■—
421/2'
16%
1247/s
123;
X45
118
•
48%
•
17
:
'
50
•
51
ft
35%
44%
34 v;
41;,
14%
128 ?? 129 IH
29%
37%
12%. 214%
39%
44%
45
St 35
? 58%"
%' 40 ft
•
118,
ti /e
' T__
■
132%
\
:
10a
^
133%
-
37%
151
.
409,111%.
'']
106/106%
116%
1193/4
105%
40V4
49%
45
49%
47%
53%
50
56%
41%
16%
14%
19%
16
18%
127
14'A
18%
13%
17%
9%
120; /128 (ft'
36%
43V4
12%: 14%
119
123
40Va..
13 ?
121%
40%
;
44
14%
ft
.
44,
-
117
37
115
119%
;
43
.
-
331/2
~
118%
100
401/2
28
14%
41%
4.7%
40%
47
34
42%
32%
39%
65
68i/2
62
67
54%
65%
57%
63
45
36%
45
ft
49 ft
44%
*
1481/4' 169%
.
6% .* —ft
-13 ft
51%
43%
iv
178 ft
45
21%
41%
164JA
178ft
L-
44%
47
__
41%
23%
35
42
159%
ft
112 ft 112
11%:
7Va
105%
47
-
-
10%
8%
112Va
102%
28
;
33
28
113
105%
50%
10%
105
49%
8%
v
103%
32-
29 V2
111
60
10%
104
35%
56
-
5%
8%
19
43%
25-
21 Va
26%
22%
26%
49%
42V4
48%
42
52%
e—
33%
'
—_
7
8%
ft
6"V8
-
—
17%
:
36
23%
40
8%
^
19
12%
15
12%
14%
11%
13%
36%
29%
32%
29
33
28%
31
~
—
:
—
—.
'M
1
> '
i
ft
55%
52%
57%
^4. } ■+
13%
29%
ft.
1141-114%114% 114%
3Q6% 106%' Xl04% -106%
129 ft.
9%
170
52%
111%; 112;
;
50
'
'42%:: 44%
X154
<
112%
8%
103%
11
19%
70
12%
46
34
v
45 3A
*
107
49%
109
59%
'38%
40 ?;;
ft
116%
14%
10
5.% ,'.
114. • 114c; 111%> 111%
115.ft 116i
113% 114%
.
110
''" ^
140%
:
"
.11c
.
34
119%
453A
13%
«-
43%*
117
40%
46%
13%
■
32%
38%
nq7/„
'Bi—jg
Cum pyeterred "$3.25 dty
J
13.
51%
V-'_L
'
.
29%
"173^'
32%116
___10
L——w-L—LlL—'-ZU
.
343A
483A
Co_J.
Co
It
29% ' 38% *
'^New-1,25''
Chemical
to
T—
•44
13%
42%'» 52
Inc______20
Mojud Hosiery Co Inc_,:_T—^___2.50
Machine.Tool
vul
'
14%
_:_*100
L
46%
30%
-
Mills
4S
113A
J $6.50 preferred.
{Mission' Cotp _j—_—10"
; Missouri-Kansas-Texas
RR
Co—«_•'
series -Ar
:
1
1413/.
7U
7%* preferred
/■Mohawk Carpet
:
•
.
16%
.%
•
9%
'
16
112%
40 Va
;%
51
___«
Mining &
ft
18%
25%:
177
1661/4
27
21%
39
.
181
158% 158%
,
__
173
OS
102% 106%
14 ;
20
63%
:
74%
%
47
40%
"107
193A
20%
194
24%> 27%
66%
33Va
106,'
24
181
•
30
■
613A
108
21%
109Va 110
52
61%
62
28
33%,:> 37%
106
53Va X6IV2
.110%:
193 Va
'
68%
,
•
48
4gs1/
Minn St P & SS M class "A" vtc
-
■
.103
99
17%
75%
-
18%. 27%
.
26%
23%
-
30
63%
37%
160
76
195
28 Va
107
41%
159V2
68%
191%
691/2
32%
105%
27%'
24%
31%
65%
33%
104%
42%
22
6%
112%
„
45 %
ft
185%
59
32%
94
.
53
39
84 -*
■
21%
18%
21
29%
34%
40%
51%
158%
New U-
54%
34%
46%
.
119%
14
«
_
11%
.
32%
15,
:_1—.100
1st preferred
Minneapolis & St.' Louis Ry
50
10
29Va
63
*
Products
53%
52%
12%
45%
-
25
33
__
pfd ser.100
L_s
Corp—lo
44%
13%
ft
63
' 38
118%
13%
104%
5
Petroleum
40%
16%
53 Va
44 ft ft
,,'Av
45%
27%
28%
—
Metropolitan Edison 3.90%
Copper Co.^.—y-
13%
ll7/a
27%
1
Co
38%
6%
57
36%
67%
14%
18%
■>
preferred
12%
32%
31%
X29
~
Machine
11%
13%
46%
10%
V\
*
Inc___
12
43%
33
39%
118
14 Va
116
50
Inc
50%
72
•"
13%
103
preferred
Co
Miami
t,.
57
67
3 10%
413a
1
first
Stores
46
y
27%
36%
*
195
__
4
201% 207
39%
31
10 Va
29%
--
;
91
200
16
23%
Z„.l
convertible
Mercantile
50%
7%
55
,
X38%
.
6% ■9%
42%
52%
23
27%
•
15%
f
9 Va
1
5 Rights ;.
97
99%
202% 205
111
106
(1st series). 100
(1st series) .50
Merchants & Miners Trans Co
;
93%
94
,
42%"
62
34%
66%
«
preferred
45%
,
w
Shoe'Corp
Monarch
93%
2nd preferred
cum
Monsanto
98
101%
34%
26%
,
15%
39
5
w
*
31%
10
preferred series A
Minnesota
94
97
"
44
109%
.100
Mengel Co (Thb/
;•
33%
37
23
&
•
New
8%
34
63
34
28
__18
preferred
McQuay-Norris Mfg Co
Mead
Corp (The)
Rights
1
Midland
31
•
57
52%
102%
1
preferred series B
37
196
50
_5
convertible
$3.50
33%'
'
13 %
112'
100
fumQPreferj;ed
&
13
ig
Corp-w„__AZ~~~~Zi
__ZZZZZ_
Mines1 Ltd___
6
18%
t
55
9%
3%
19
61%
113A
39%
" ;
;-/
111
«
McLellan Stores Co
Melville
55%
14
32%
49%
3%% cum convertible preferred__lun
Electric Co
1
McGraw-Hill Publishing Co InC—__E"
cum
66
12 Va
30%
109%
*
w
38
46% X50%
6%
46%
.
'
37
58
14
14%
McGraw
4%%
31%
70%'
76
28%
•
$5.50
43%:
63
37%
•
_i
*
33%
■
49%
14%
49
41
;
2%
28%
2
12%
108%
*
McCall
&
27- '
62%
59%
116% .119
*
32 %
nor
^ 1
19 »A
111%
\l
29%
IZZ.IZZ*
1st preferred
-v
58
6%
-
50
•
36
'
62%
57%
its'
ZZ
/
34'A
.
30%
10%
58%.
31% ' 35%
49'A
"
111
11%
39'*
'
5
cumulative preferred
Maytag Co (The)
McKesson
*9'A
453A
jo
*
;
111
40
100
'
_
preferred-
Mclntyre Porcupine
30%
65%
525
17*
45%
109V2
„_i
__
w
10%
20%
1
_•
Mathieson-Alkali Works (The)
.7*. preferred
May Department Stores Co__l_
pfd
57
27%
•
"
64
159%
37%
X22%
17%
Parry Corpi..r
Corpi—
__ZZZ_"*
conv
52%
65%;
31
25
'
Masonite
Corp
McCrory Stores
Common rights
30%
11%
76%
%•
100
(Glenn L) Co_
preferred
52%
28%
10
60 *
35%
*'
37%
50%
34%
«
28
6%
Market Street Ry Co 6%
prior pfd—100
Marshall Field A: Co_
1
m4V*r/e preferred.^—
/ft
14%
'Rights —.—————————*»—
Marine Midland Corpi
L_IZZZl_Z5
$6
■
26
60%
•
74 ;
"
A.'
$3
X34
32%
70%
159 :
68%
6
$3.40
•
70%
*
84
20%
"7%
$3.75
4
5%
X13%.
.
11
30
102%
203%
'
196
64%
■
24%
'6 Va
t
97:
98%
208%
33%
36
104% 104 3A
16
Electric
29
35%
102.
97 /
28%
41
Mesta
V
33%
;
96%:
193
31
71%
23%
Master
*4%.
44%
65% r 71
13/*? 14%'.
;
36
28 Va
.
32%
19%.
Corp_
51
V
43
■». •
.
'
75%*
29k
30%
37%
•
41
'A"','
•£
12%
1
43%
40
£ llVa r 13%
90
24 V*
Martin
55
15 »A
38%
15- 65%;
33?'.?
58%
15 Va
115%' 119
76 •:
31%
87 Va
43'A
Martin
48%.
12%
39%
41
l23/8
Merck
38 Va
37%'
36'A
5%
-4%
38%
21 Va
4%
3%
:
%
"
.
39%
443/4
1:
Inc_
^
51
14
66
31%
26V4
$6
4%
64 / .;
41%
38
5%
12'A
39 Va
23
5%
46%
9%
32%:
•
•*
38
13%
39
3f4%
23%
'
•
52%
10%
34%
1* Manhattan Shirt
Co_—i__—i__L„5
Maracaibo Gil Exploration
■
44%
31%
iria
Bros.
49
55%
14%
4%. .'" 5%; "
55 .vvV'62
Z
65 3A
iZv.
-
'
.ft
75^
67
49%
11%
L
V
5Q
L
33
46
82
13y0
65
66 r;
*
46
20%
82/
50
;5%
47
16%
82
:
14
77
1
Mandcl
38
67%
'
116%
42%
1
:
X82!
.
12%
34%
/
'
90
62%
■
—
Magnavox Co
•.
70%
14%
60%
39%
108% "109%
29'A. 37
.—Li
—i
t
*
Magma Copper .Coii_l„L.IZ["Z2"IIio
'
86
13
69
/.
72
47%'
„___100
1
97%
64
61
33%
38
High
$ par Share
-r1—
*■
'
$ per Share
\,yf>
Zi'V^/5% ?
7
39
j.5%
34%
94 *
65%
154%
_*
Square Garden Corpl
'
1^1
45%'
Inc__i__i.-i—1—66%:
•
50
78
13%.
76
58%
52%
17%
10-
55%
45
14%
94
ZZ
; 6% preferred™™™—___„___10Q
Mack Truck
47%
<
67%
X37%
l
.
60
53%
16% *
66%;
71%
28
10
50%
44%
80
200
64%
43%*
68
55%
14%
.95%
62%
A___1100
44%. 51'A
51%
/
;;r;7% ;C'5% ^
75
210%
200
60
35
55%
48%
61%
27%'
,
94%
88
190
—
58%
i
6%
16 Va
;
34%
52
58
*28
41%
December
Low
High
__
43
82
i 'Z
»
.
28%
*
Co
;*
61
13%'
31
*
/
701/2
50
(M) & Sons Inc_
-
tfs/6
64
_100
48
1
??
8
35%
_
—
12
v 68
59
55
35%
33£: 38£.
*
A
'
93
k 61
51%
•
..
ser
62
*4% '
61%
32%: 39%
62v* : 67
40%
58%
'SL
i
Share
67.
12%
v''
91% 101 '
92% 103%
194% 200 '
_i
54%
62%
7%"' 8%Z
November
Low
High
per
/ft
45%"
61%
56%
27%-
30%
56
8%
-
Low"
-
4»A
4
51%
.
58y4i
.
.
*
33%ti371/a(
-
7%.
*lTiVh
Low
8 per Share
40%
36%
^
October
utlu
uv|..vu"ui>.
•
:
14%
15%
41 :47 .T:
12%
14%
'•4% ^ 8%;
36%
*'i
42
21%
1%,
51
'/65%
73
'
56%
76%
20%
52V«; 61%;
7%
80% 102%
79
'
14
5%"
.4%"
"
ip/4
38%
21%
19%
September
t>o>
$ per Share
>
.
30%;
^100
Co—
60
48%
47%
49%
26%
1%
New
! 57%
59%
29
33
*
—
;
•'
K 343/4
47
:
4%% cum preferred series
Lukens Steel Co
Madison
*
14%
40 %
63%
Long Bell Lumber Corp (The) cl A___»
Loose-Wiles Biscuit Co™
25
Lorillard (P) Co—i
10
4%%, preferred
79
65
451/2
34%
Macy (R H),Co Inc_
"
79
72
26%
*
Z
Lone Star Cement
Corp__
Forbes
77%
53%
44%,
;
—t
58%
8%'
Angus!
Low***High
*
•
17%
,58
RR
7%
„L
v
*
,___
Nashville
'••f-;--
25 Va
40,
X57%* 62%
12%,
100
ft.7% cumulative preferred
Louisville Gas & Elec (Del)
,.8
49
ZZ
__25
preferred
Aircraft Corp__
Loew'sTnc
&
46%
ZZ
•
:
.i-:.-—L-—
MacAndrews
; 60%"
x7%
45%
July
w
$ per Share
i
:
17%
4% i " 5%
__25
convertible
Lowenstein
>
—
12
,__5
Co__:
Cd__A_™__,___'
&
8%;
59
39%
x__7
L_
Lockheed
Louisville
-
1$
Liquid Carbonic Corp™J
Rights.
—;
1
\
_L
Co_™
I
Co
7%'
59
Locomotive Works Inc
Oil
48
31
Corp____i,_:
B
Link Belt
49%'
50%
Lily Tulip Cup Corp__
Lion
47.
66
_1
preferred _L__—
Lima
49
■
61%
Corp___i______5
Liggett & Myers Tobacco
i
19%
52% ,60".
56%
61%
:
Corp
Libbey-Owens-Ford Glass
Libby McNeill & Libby__
Life
19%
54%
/
;
High? Low" *lIigh
Low
$ per Share
:
21
14%
45
*
(The)™Lft™™
Corp
& Pink Products
Lerner Stores
26
18%
__
preferred
June
High-
43
48%
_•
u
45
15,
;
'
36%
45%
i.__*
™_ZZZ50 :
convertible preferred__£__i__i_50
Preferred
38%
18 %
_„
Corp.
5
Lehigh Coal & Navigation Co__a
L_10
Lehigh Portland Cement* Co_™
25
Lehigh Valley RR Co
i_
i-50
Lehigh Valley Coal CoTp_^«.^i,i^i..»*
-
34%
37
common___>_.in«U
} 4 Vz% preferred
Lee Rubber & Tire
•
39%
431/4
Bryant Inc
New
35%
6% *' 9%
*
■
Low
$per Share
>
48
441/,
75 pesos Mex
(The)-_™„—i
39%
;:
<
May
(
$ per Share
/
16
4
™_
Amer.can—
April
Low" High-
^High
$ per Share
44
#
Laclede Gas Light™.*
Low
High
$ per Share
;>
_i
~ZZ*
Kroger Co .(The)
.La
33%
1
Co
Low
March'
'
„10
____
Kress
Low
High
$ per Share
.ft
Co
February
43%
52
44%
50%
47 ;.ft
Mi*!:
1
co ft?
64
J
__
132%.. ,131.
■
i
-
■
135%.
126
.135
—
129—1314
111% 125
121*
125
ft y
118% .123
,
116
130
;
1947
Thursday, January 23.
FINANCIAL CHRONICLE
..L| V
YORK STOCK RECORD
i
January ;
High
Low
—;rstocks l*->- jW
,::.V; ;,v;'7
1 7 " ' *
" '
.
.
April
tow
High
High :
$ per Share
Share
75%
7
May
,
„
•'
$ per
Share
$ per
March
February
Low
High
Low
■
$ per Share
7
83%
-
', June.July ./.V
v,'
High
High
Low
.
9 per Share
•
u
99
92%
104%
102
87%
-w:-—: —V7 '4 ''
$ per
Share
93%
6%
74%
82%
71
5%
■
24%
29%
54%
62
88
61%.
53
__-_50
(John)
56 v v
49%
53%
-
v
28%
32%
33%
1
51
48%
58%'
Corp class B common™ 1
preferred
*
17
19%
106
108%
Co
Mullins Mfg
Munsingwear
Inc
20
16 V*
105%. 109%
4% %
Cum
preferred
of America
27%'
24%
29%
27%
30%
21%
27
20%
24
20
23%
20%
53'
-■
55%
56
59%
56
62
50%
56
52%
52%
53%
53%
55
55
49%.
49%
52
50%
55
50%
53%
52X54%
49%
52
42
49
X42%
48%
40
45
42.
43
20%
23%
29
32
28%
33%
31%
30%
32
29%
36
57
56
61
58
66%
18
16%
16%
-
(F
E)
105%
46
48%
49%
26%
41%
39%
45%
XI10%
112%
107
111
-
16%
187/e
17%
50%
53%
52
62%
64
64
63%
61
25%
203/4
25%
21
47
52%
46%
49%
44
33%
44%
100
Airlines
National
/ National
Aviation
National
Biscuit
National
Can
J. 08%
113 >%
110% 112%
16%
19%
17%
19%
49%
53%
49%
51
66
60%
66
62
70
.
21%
43%
45%
34%
Corp
38 %
24
27%
21%
14%
18%
15%
X13%
35%
39%
27%
33%
23
28
25
30%
25 y4
31
34
38%
27
34%
27%
31%
26%
30%
27%
30%
26 %
28%
18
22%
16
20%
14%
19%
17
10
14%
10%
12%
11
13
11
15%
22 C
19
16
19
13%
18
25%
20%
25
13y8 Jl6
.
22 y8 i 25 V* ■;
31%
23
30%
17%
20%
16%
19%
21%
14%
2iy<
24
i9ya
23
19
33%
26
33
27%
303/4
30
34%
29%
33%
30%
25
32 y8
33%
31%
30
27%
24%
30%
31%
37%
X199
32%
/
33
34%
36%
205 y»
200
205
199
30%
21%
17%
213/4
17%
18%
17%
20%
17%
37
45
38
41%
38
43'/a
38%
28*/4
24
31%
29%
31
17%
14%
16%
13%
29%
35%
25%
31%
25%
32%
27%
32%
30y4
23
16%
19%
15
18
15%
17%
16
33%
36%
37
37%
42%
373/4
42
41%
45%
42
40%
483/4
40
50
49%
55%
51
,•
11%
12
12^
84%
65
783/4
67%
—
—
—
—
66
50
58%
28%
44%
54:
37%
34%
26
54%
58%
50%
26%'
58%
48
Linen
*
ZIo
32%
_iod
77%
165
1
Corp
33
38
1%
33%
108 '
Power
&
_34 ' ;
200/
204 '
201% 204
168
172
171-173
X22%
__
51%
31
61%
Corp
Sugar. Refining Co.
National
convertible
9%
J 59
10%
10
86%
85
11%
86%
(The)
National
Tea
81
2d.
(The)__*:
-80'/a
91%
9%:
:
40%
36
Penna
29%
Co________!
:
199%
166" " 171%*
•29
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67
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65
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.
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21
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27
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24
65
77
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;
106
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106
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34
39
109
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59
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277;
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29 V8
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30%
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16%
112%
114
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cumulative
49%
*
45
56%
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18%
56
18
18
56%
.
111% 112
21
___;
cum
pfd
20
—
Oliver Corporation
Omnibus
8%
31%
convertible preferred
Corp (The)
preferred
6%
16
115?
28
100
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17%
118
Outlet, Co
■
w,,.,72f.
Glass
Pacific
American Fisheries
Pacific
Coast
Co
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:
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-
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32%
15%
117
27%
39%
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173
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120
v
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115
Pacific
Western
Oil
Corp
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4%
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Petroi & Trans
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preferred
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18%
24
23
20
21%
72
66
56
;
35%
109
109
28
109%
29%
104
39%
108
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:
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23
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43
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40
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22
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70
70
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25
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32
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15 , 13% 14%
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108
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105
108 ; 105
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109
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70% 74%
• —: 7
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26
11%
14
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54
31
42%
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—
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178% 181%
7% ; 8% '
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49
8o
111% 112
23%
40
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17
110%
12%
101
96%
23%q J 187/a
31% 36%
108% 110%
30% 35%
110% 110%
33%-
150
46
150
—
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__
44
:
--
29%
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22
75%
36%
42V8*•
62%
41
43%
20%;
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•
__
39
45%
19%
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: 63%
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10
23
77
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18
76
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18
19%
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83
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178 '181 .
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33
109
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142
29 %;
109
100
88%
v
174
33
102%
101
.
104 */2 in A
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14
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10% 12%
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117
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116% 117% X113
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42 ;> 47— 29%
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26%
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32
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26% 33
.
26 & 31%
28
174
175
173
175 • 158
163% f 160% 160% 159 ;
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109 '
110
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102
89*^ 98 f; - 86% 87
87
82
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88
71
; 80 • "
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116
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110 -114%-
-
35
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28
16%
119
38%
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.
21%
36
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83
20%
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20
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66%
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25
25
.
98
__
20%
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38
100
115%
—HfiJJUdUi :
32%
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12
12
22%
.r..
32
18%
2
47%
16%
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,26 Va
9%
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29%
52 3/8
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89
104%
14
241
119
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9%
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49%
13%
42 <
34/
226,
102%
17%
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11%
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39%
110% 111%
21
102
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223
•
61%/, 62%
108%
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11%
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51%
41
173%
19%
•
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16
51%
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;
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43
92
14%
110% 111%
110% 113
48
29 f
10%;
111% 112%
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100
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10
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—
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28%
24
'>
4107 -109 ')
12%
14%
18%
22
22%
60
265
115% 117
16%
16%
22%
124%
23%
105
92
19%
272 P 284%
126
101
59
285
107%
19%
48
•
17%
26
300
18%
49%;
*
320
14%
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r
.
43
'
18%
46:
49%
285
107%
107% 109%-
'i
285
68
16%
35
53%
30
,
-r
13%
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18% -.24
36%
:
80%
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75 ;.>
298 *!
100
29
42
41%
32 v*
34%
96
*20%
79
40%
34
29%
14%
116;: 126%
103% 104% /'
106
'
106
99
26 :
132%
109%
35%
34%
53
125
32%
33%
29%
1053/4
109
;::Z
'
106%
104
29%
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135
/
95%
40%
60
! /
T
20'
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49%
19%
103%
35
19
16%
31
30%
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'
108
25%
113
109
38%
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107%
104% 106
39
* 108*4
107
26%
111
30%
21%
108%
28%
17
107-
.108
'
45%
38%
35%
45
5
108%
31%
•
/
65
92-
107 V
109%
16%
84
■
26%
50-
24%
^^2%
Co.—-5
512.
-11%
19%
21
Refining Co
footnotes see page
10%
51
77
_
For
16%
12%
16%
21%
Pipe Line Co„—_«
;
100
—
14%
10%
48%
85
Paraffine Companies Inc
4% convertible preferred —____100
Paramount Pictures Inc
1*
New
14%
12%
19%
10%-12%
American Airways Corp
17
10%
226
14%*
18
Packard Motor Car Co
Pan
14%.
11%-
39
34%
'
Corp
18%:
10%
57
27%
34
--
Consolidated
21%
12%
15
11%
30%
107 > 110%
22%
20%
39%i
80
100
preferred
Pacific
27'/a
50%
31
17%
5
New-;JJ._->;___W___—
p> 6 %
95 /
25
61
"
39%
.
71
Telep & Teleg Co
Rights-
19%
90
28%
16%-
50
33% i-r 28% ! 30%'
1183/4*
112% 116
75
Pacific Mills:
■■
16*/4
93%
25
36"
'.tf'
110% 112%
—
*
Pacific
20%
89
30
16%
24%
'
_*
;
—
17
27%
25
34%
,76
45
272 p 288 */2
126
128%;
—
25
non-cum
Pacific Lighting Corp
22%
97%
21%
91
41%
^
j
49%
47
•
Pacific Gas & Electric Co
19%
91%
29%;
15%
36
53
127
133
76
..
26%.;
__10
non-cunu
"
19%
86
25%
12%
v
105
■
~
28
—12.50
Co—,
24
104%-
26%
"
31%•
iiiya
21 y4
111%
r lL
91
(The)
Owens-Illinois
14%
79
.83
58
;
■
ll7/a
45
s
$11%
32%
166
.___^__2.50
■
__
113%
?35%
preferred
~
27%
_100
(The) ._____10
Otis Elevator7Co
'> Outboard Marine &
15%
12%
44
19%/22% jsj20%
__
34%
___6
—
23
>•
115%xll9%
100
conv
Oppenheim Collins & Co
*
18
-
—>»
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100
(The)
;
19
53%
0,16%
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v
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Ohio Edison Co_—U_w_*_,
,
56%':(;;56%
■
Gas & Elec 4%?.
31
29
26
££%";H>'46%
15%
>18%, 19%
18%
2.50
preferred
25%
13%
25%
$?%/a;45y2
49
13%
50
50
preferred
Co
Pharmacal
79
27%
38
36%
-4r *.*
106'/a
114%
Inc__
83%
::
'%
114
Airlines
2%
75%
26
30
108
46%
;
1%
: 1%
89
102% 104%
112%
4V2%
"1%
"2%
75
1%
64
6iy4
;
121%
31%
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u
Cumulative preferred $3.60 series—*
4.4%
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~l5/a
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97%'
25
60%
:
30%
Oklahoma
*
20%
28%
28%
28%
Ohio Oil Co
;
49
"73/4
12%
28%
53
116%
35
Northwestern Telegraph Co____
Norwalk Tire & Rubber Co___i___
(
28
44
24%
25%
12%
28%
1%
6%
22 */a
46%
297/a
27%
114%
36
Norwich
~8
25
42
26%
62%
29% : 37 y4
33% :
'
-
33%
Rights
v
6%
21%
45%
28%
'
i
8%
23%
25%
48
128
:
37
106 to 109 %\ 107
24%'
.•J
•:
100
Northern Pacific Ry Co__
Northern States Power (Minn)—
Northwest
7%
43
24
-
37%
43
45
■58%'
-
113%
113
48%
54 y8-
,64 7
1
'
■:
20%
111
38
107%
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•
108
: 110
110%
43
49
105%
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110%
159
18%
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69
33%
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61
127%
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109
110%
34% : 43 '
34%
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120
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41
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261
>
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108
26%
61%
274%
246
59%
.
55%
59
'■
28%
58
62
y;l69%lll%
53
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,
107
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50
28%
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v
104
48%
127
35%
-
v
62
45
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120
108
37
108
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44
1 132
120
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28
•
110% 111
54%p60
'26, ' • - 29 V4,
67
1
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107
40
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26
: 108*%
37
108
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i
108
110%
35%
35%
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156
;
10
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106
*
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152
103
277/8
29
Central Ry Co_—50 : lit
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38
14%
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121
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12*%'
15
13%
•
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29%.
8
22
13
18%
'•
156
xl49
-
183
51
18%
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105%
24 J/2
104%
155
*
35,
178
41%
29%
22%
36%
50%
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42%
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31
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29%
105%
27-
104-
37
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;
33%
29%
19%
57,
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29%
105%
*
>
150
*
32
24
40%
123
:j Norfolk & Western Ry Co
—100
— : AdJ 4 %! non-cuni .preferred___L__100
North American Co——^.w_—
__10
|i
105%
32%
189
10%
x89 y2
41%
N Y Power & Light 3.90% pfd ier^^OO 1107% 410%
N Y' Shipbuilding partic stock^_"_—_1
26%
19%
Noblitt-Sparks
27%
104
105%
16%:
48%
27
29 y8
28%
-
35%
24%
20%'-
27%:
r
'
25%
103%
60 ''
101%
'91
64
32%
Dock
33-
24%:
104
106%
105
5% non-cum preferred..
N Y, Si Harlem ,RR,
^ -
X20 */4
I
35
11%
32%
24%
>N Y.Chicago & StN Louis.RR Co„.100.
6%
preferred series A_____
ilOO
N Y City Omnibus Corp.
__•>
I j-
22%
1043/4
21%
1
11%
20%
108
57%
37%
22%
?0%
32%
;
35%
24%-
28%
43
RR Co__^
38
16%
•
1:
i
.
X26%
•
14%
32
,4%% cum preferred—i.
100.
,!'■ Newport News Ship & Dry Dock Co_l
New Yprk ;Alr Brake Co.v.^..'
York
101% 105% :xl03%
110% 111%
,_io
Corp__^
Newport Industries, Inc__^.____i____
*30-:.
108-109%
—
;i
23
33%
.
49
'
351 ;
20
107
,•
Central
-i$27%i-*-;;30%-
26%
*
New York
31%
;
:>
i;
i : 4%% conv,serial preferred
100
"Newberry Co iJ J)
;
3% %
preferred ;
__+10O,
N J Power & Light Co 4% pfd ser_4100
,
20*/a
32%
29'
.63
,
10%
91%- 100%
11%
.
21%:
19%. "22 Ki
?57%
,
Mining
30%
24- :
18 V2 :
^:__l
"__
if | New
Newmont
170
16%"
102% 105%
106%
*37%
* 205%
165
103
33%
31%
36%
55
-
>
202
24% '
19%:
28%
105%
'
31%
29
.
33%
34%;
33%
32
.
___*
;#Neisner Bros Inc__
.
19%
13%
;
:
Corp
.
80%
29%
101% 106
26%
28%
Co.
Natomas Co
:
21
53
9%
25
-20%
10
,______100
National Vulcanized Fibre
.
38%
16%
23%
102%
28%
,
105
107%
34%
38'A*
198% 207 • :
170
171
40%
'•
198
169-172
*28%
25%
106"' 107%
106%
196% 203
•
31%
23
34%
31%
preferred--_40;
4 % % cum preferred___
:;
35
21%
38%
17
1%
Steel
National Supply Co
New
33%
26%'
46
55
Ex-distribution
National
>
38%
21%
■
:■
.
!
12%
'
34%
53%
>■'
41%
60y8
33
68
24%
30%
26
32
•
103%
37 !
•
40%
179
38%
10%
37%
39%
28%
30%
107%!
5
200*
22%
•—
Light^___^_
27%
105
62
52
61%
:
167
-
25%
54%
4
v
53
'107.
105,
38
-
■
''Nehl
30
30
•
-
1%
195%
170
'•
22%
-
—________ —
National
.
15%
38%
f; 17
; <
77%
69
2
-25%
29%
24%
105%
195% 199
-100
Service
30
106 */a 108%
30%
:
40%
•
4
59
67%
24'/a
™1
L.
preferred B_—
Ne"w
$2
X32
36%
41%
26
X34%
--
U
1%
National Oil Products Co.
y.-,
11%
34%
12%
69%
—
National
X-
9%
11%
24%
,
47%
31%
_*
National Lead Co
■' 7%• preferred A
v
36
13
_—
;/ 64,50 convertible preferred
.....
9%
31%
19%
42%",
43
37% *43%
__10
Corp_
...ivNational; Gypsum
v(
15%
"40%
34%
*
29%
184
,
38%
44%
*
W
is
19
22
12%
2227%
9%
12y#
24%
10%
20%
18%
26
183
190
22%
25
33%
18
19%
f0m
26
180
190%
22%
18
22%
18
30
25%
190
24%
19%
20%
'31%
200
27%
24 ;•
43 ;
22%
18
190
30%
18
■
*
19
36
21%
26%
347/s
205
>■21
15
15%
29
30%
•
29%
13
15%
37%
.
36%'
17%
National Enameling & Stamping Co__*
•
13
22:v7
19%
v
*
32%
27%
♦
// .- <6%
38% ^44
3Y;:
1
Rights'-
■
-v
16%
32
20%'
35%
24
1
6% preferred
/National Distillers Products
.
21%
45%
.ij
v' 205
*
27%
29%
19%
c
.
31%
;
<23%,
3oya
V
204%
18%
44%
—-O
//
201
28%
29
20%
45%
35
32%
35%
38%
32%
30*/a
X26%
201
198
27
31
15%-
18%
41%
39%
20%
200
38
X52
19% -23%
24%
34%
50
36%
18%
201
51%
39
20%,
29 H
30%
12%
35%
50%
41%
20%
200
10%
12%
39%
46%
26%
34%
110
111
10%
33%
24%
17%
.
110
13%
41%
36%
1
./ National Dairy Products
Corp
Sf National Department Stores Corp
111%
9%
21%
24
201
*
39%
111
X35>
42
19%
__
36%
109%
15%
13%
16%
33
28%
35%
29%
17%
xl4%
16%
105%
41%
V 43
27
37%
17
37%
'
17%
223/4
9
13%
32%
53— 55
24%
10
18%
47%
15
105
105
103'
105
62%
283/8
__
13%
15J/4
18
14%
102
59
203/a,
Inc__
19%
105%
36
33
28
14%
18%
17
31
38
49%
23%
29%
20%.
41%
18%
14%
27%
193
17%
23%
38
46%
283/4
If
19%
19%
43%
46 %
20% X24%
23%
48
23%
:
110
109
,
25
10
16%
22%
35
102%
-
22
33%
ui
18%
19
49
f
42%
20%
10
Co_^_
/If \-New ■
23
43%
109
110
f
15%
19
47%
50
64%
68%
34%
National
.
18%
39%
39%
38*/4
National Container Corp
Cylinder Gas Co
.
20
45%
49
16%
Co
Lines
25;
u.
22
107%
106
29%
//National Cash Register Co
City
20%
40
34
24
20%
59
18%
21%
107%
'
1
Inc
Zp, 1% preferred
1 P National Bond Sc Share Corp
/National
106
31%
15%
27%
117 7-
28
'
32%
Fibres
Corp_.
Battery
National
718%
47
___1
Inc
Automotive
'-22 %:-
104%' 106%"
24%
27%
7
39
Co___i.
Acme
National
60%
197/8
36%
'
National
31%
34%
53%
54%-
,
7
'
Corp
Nashville Chat & St L Ry Co
30
;
58
27
'
27
35%*
66%;
31
108
24%
"
32%
28%
7
20%
105
•
112%
22 7
55%
64
51
22%
___5
Nash-Kelvinafcor
•
16%
55
27%
61
*
Bros
&
18%
107%
105%
112
17%
22
>53
50
ser;lesu-^^™50
preferred 4%
Myers
18%
10
109%
114%
110%
i,—100
—
25
27%
55%
23%
55%
36%
1
Murray, Corp
65%:
H:
25%
147% 165
150%
142
*
(G C)
69%
57%
30%
5
New
Murphy Co
:M.. New
67%;
73
62
30
•
73%
64%
-
X48%
51
47%
48%
38%
*
—.
25%
62%
75%
25%
28%
34%
32%
Corp
Corp
Brass
76%.
65%
57%
65%
65%
7%
79%
56
26
29%
29
Wheel
Mueller
December
.Low High
8 per Share
28%
,56%
47%
44
Products
Motor
,
58
24%
•
5
Motor
$7
28%
22
November
Low
High*
$ per Share
.October
Low High
$. per Share
High
Share
per
6%
■'
paid.^..^.
preferred-____
& Co__i
cum
$
:
r
;Moore-McCormack: wnes Inc-i-i-*—^10
$2.50
Low
.
'
$ per Share
74%
80
72%
llontgomery Ward & Co
Rights 7——2—-Receipts
Installment receipts 25%
;:7i
Morrell
A September
»AUg"S'
Low
High
•
High
Low
,
$ per Share '
-
19% 22%
6 v 67/8
11% 14-$
14% 16,.
10O_ 106%
4% 6%
,67% 81
106% 107
v577/'
X317/a
ZaV
34%
/
509
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-r
.
NEW YORK STOCK RECORD
,„,.,,
,,
..
...........
MOCKS
.Pork ft TUford
February
^Sgt
'
Low
-
Enterprises
Corp
Corp
Penn Glass Sand
57c preferred
pe.n" p°wer
Pepsi-Cola
7
IZZZZZ
Z
4Vz7o
Corp
Philadelphia
Co 6%
$6 preferred
preference
4.4%
»
4%
-
Phillips-Jones
:-S
Corp..
preferred
-FbilUps Petroleum Co
Phoentx Hosiery Co
•, nn
nreferred
14%
29%
23%
28%
26%
32
30
25%
27%
113
112%
26%.
42
45%
38%
%
25
120
98
96
•
41%
25%
14% y
11
29%
271/4
29%
26%
291/2
26%
33
33%
35%
35
361/a
37 7/
35
,
112
26%
113
21%
r
321/4
401/4
19%
:
74%
72%
80%
77
82
49
40Vi»
4i'A
40%
47
17%
26
.'•33%
21%
.12%
8%
iVe
10$
11%
7%
9
23%
28%
17%
24
37%
37'/2
37%
31%
36
115%
115%
114
23%
21%
24%
23%
20%
34%
114
20%
30%
7,55
—"i
New
Plymouth Oil Co
5
44%
42%
40%
43
37 V*
33%
38
25
25
48
44
48 »/»>«
451/4
48%
48
49%
44
48
39
/ 45
38
54
68
56
62
57%
61
56
63
48%
55
48
110
115
110
91%
106
16%
23
92%
14
115
37
103%
110%
35%
30%
331/2
371/4
33
•
,32%
109%
105%
83
105%
35
22
28%
36%
26
<
102
36%
33%
29%
28%
26%
/
-•4i;'./ -43'^
106% 108%
11%
14%
29%
27
123%
100%
127
99%
"
32%
28%
123
130%
130
132
125
1291/4 ;
105%
105%
109'A
105%
107
39%
43%
106%
106%
12
30%
38#*
107%
14
25'A
35%
39%
107%
10%
13
26%
12%
P°^d Creek Pocahontas Co
*
80
"30
108
107
10%
28%
Vi
'4%%' cum preferred series A
Procter & Gamble
Co__...
Publicker Industries
,
Inc
50
12%
9
....
14%
15
13
14%
77%
58
68%
57
X48
40%
451/4
71%
74 %v
38%
36%
43%
29%
37%
$4.75 cum. preferred
Public Service Co of
,
76%
114
112
30%
115
27%
30%
/
69 y*
•
30
27%
29%
73%
112'
65
.114
',29%
29%
71%
112
30%'
X120%
15%
32%
19%
15
17
15%
43%
37
39% t
34%
,i9
58%
45 JA
119
114%
28
30%
119%
17%
120
73
28
31
119
120
122
17%
?
15%
32%
36%
30
75%
112
74%
111
30% "
X29i/4
119
71
114
29%
30%
121%
v
113%
68
64
74%
114
111%
309
52%
108
33
51%
125
108 /
.104 %
.
28
125
47
111%
102-
34
45%
110%
103'/a
-
32%
29%
29
29%
34
31'A
32
29
*
"• 117%
""♦
.14
15%
14%
35%
30%
35%
27%
46%
53
44
103
102%
30%
104%
31%
104%
33%
123%
127
126
-
112
105
106%
32%
29%
34
130
'
.
59%
59
30
36%
33% *- 36%
32
; 33%
107% 109%
15 %:
13%
102 / 1104
:
30
32
21'A
24%
22%
27
•
209
47%
210
124/1125%'
100C
13%
103
•53".
I
35
30%
34
28
30%
30%
19
*
29%
110
12%
-
Pullman
——
26% '
: 101 % •■
23%
■_
208
210
28
25
198
198'A
208
208
208
v
22%
41%
44%
.40%
12 Vb
11%
12%.
10%
18%
16
17%
16%
141
136
93
.
16%
>136%
81% : 87
82%
86
30%
21%
1
86
86%
83%
88
85
25 Vi
28
88
92
*
24%
18%
21%
26%"
17
23%
23%
23%
28
29%
31%
5%
convertible
preferred
Purity Bakeries Corp
9%
11%
"14%
18%
41
,
37%
.
....
14%
■
17%;
22%
-
80y2;
90 Va
90'A
83%
90
27 Va
87%
32
19%
38% '
9% '
10 •'"" 14% ' 107
:121
23%
;59%
29%
26%
31%
29
35%
32
Ralston
18%
Purina
preferred
Reading
non-cum
4%
non-cum
Real Silk
Co
33/4^
—
pfd__
Cum conv pfd
...
1st
48
21%
18
55
48
26%
23
27%
22%
27%
59%
58%
61
56
59
54%
59
68%
64%
713A
66%
69%
65%
68%
28%
67
37%
24%
26%
36%
39%
25
30%
1
,
37
102
•40%
:
,
52 Va
104%
52%:
62
102
40%
36%
3%%
.36
100
135%
115
135%
115%
147%
146
■
147%
119%
146%"
123%
137%
125
131
115% .116% X114%
116%
113% 116%;
112%
114%
113%
114%
prior
pfd
series.
15%
95
89'A
23
94
90
96%
90
17%
21%
18%
23%
22%
110'A
.28'/a,.
43
46%
44%'
2834
-
23'A
106% 112%
111
113
071/,
40%
125%
1013/!
oj /4
I_i
23
27'A
383/4
37%
43%
103
39%
,7V
25%
4
26VH '
13c
117
25%
(Jacob)-.^X.—X-..—5
,•
32%'
29
18%
21%
17%
13%
16%
17%
14'A
17%
20
18 Vi
21'A
17%
18%
31
34%
32'A
35%
X32 '/a
111'A 113%
113%
/
18'A
106%
23%
109
32%
35%
130
X116%
28'A
120
'
20%
29.%
107'A
35
117V2
138
43
108
43%
37
136
106
/
108%
22%
28
17%
14
16%
26
24%
22
431/4
42%
43%
45
46%
12%
263/4
29%
26'A
soya
44
34% '
26'A
10%
.
47
132
21%
25
44V3
46%
40
;
23%
',
37%
38
24
27% /.
50
52
37'A
,
.38
109%
33%
46
26%
X36%
,
108%:ljlr
122%
100-.
114
96
13%
397/a
92
30
16%
13
/ 114
27%
'
39
16%.
26%
31%
85
14%
18%
14%
17%
87
83
83
39%
36%
40%
100
100%
101'A
20
23'A
22%
101%
101%
102%
29%
34%
28: /
33
20% x29
16%
20%
14
19%
121/4
12
13%
13
17%
19 Vb
IOI/2
161/4
33%
33%
109
33%
115%
113%
25%
"
30%
40%
114/i?
39
114
30%
24%
108
110
.31
.
40%
37
107'/2
/.
124
31%
91
29%
14%
16%
74
80
"
v
101
102
;•
15%
9%
.
8'A 1*11
14'A
38%
14
7%
9%
13%
16%
25
'
116
29%
33%
110
113
:
15%
36%
116%
19%
23%
20
24%
46%
42%
>46%
41
441/2
391/4
43%
X36'A
14
40'A
103
25%
'.lii.
Asm
11 Va
8'/a
7%
7% : 12
9
71/8
7
14/ ;
15
48
50%
47'/2
50%
47%
<
105'A
106
108'A
101%
25%
34%
32%
38
30
35
28
32%
17%
20%
17%
19%
17%
19%
18%
14
32%
44-
37 W '43 V'
39%
41%
34
"A
31i/2;"
106
107%
107%
13%
10'A
11%
10 Va
11%
10%
11%
9%
11%
25
26%
25%
27%
27%
30%
271/a
30%
50% '/
43%
491/4
48%
531/2
53%
65
52%
62%
31%
24%
28 'A
24%
31
25%
28%
26
32%
9%
108%
:
40%
10%
16
36
/
9%$ 10%
$$
:::
98
102%
102%
30'A
28%
24%
20
16
20%
IO41/2
103%
108
113%
13
16'A
12%
36'A
41%
$37%
47%
48%
48
103
104%
100
20
24%
19 Va
15%
13%
27
29%
27%
12%
! 16%
31%
.
25' -'?' 30
'
GVb A 7%
110
:
122%
16
V
40%
50
104%
27'A
9%
*
27
; '
19
23%
;
17
20%
17 Vb
19'/4
56
•$
40%
51
43'A
51
48
54%
x53
23
28
21'A
27
23'A
27'A
23
6%
102
100
22%;
22
50 %
•
50'A
48
23%
•
15
,4?%
x37%
28
31%
39%
125
13%
551/2
38%
27 Vi
106
118/
25'A
29%
24%
/.v; 19/
15%;
14
49%
106
27
6%
112
33%
38
51
'
28%;
25%
111%
23%
23%
40%
21%
19Va"
291/4
111%
25
109
22%
113%
15
27
29%
110
18
32
,36'A
49
48
107%
"
107
24%
24%
123
24%
.../'
26
97
108
18
129'A
50
1121/4
;
18% "
1
;
,
.35%$
:
26%
30
34%
33%
25'A
-A
103%
12%
15%
104
94
83
86
46%
18%
;
39
14%
98
102
78
15%
23%
15%
:
361/a
103%
96
19%
24
| 32 % |
.
'134%
36%
102
19%
26%
$50
37%
40
15
107$ 107
35
21% ;
46
50
38
20
108
96
r
38
16%
76%
16%
27'A
36%
100%
49%
33%
,18%
22
97%
19% / 23%
12'A $14%
17,$: 18
34%
21%
18%
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,
'
169%
/
37ya
19%
45
38
99
321/a
25
32%
36%
17'A
40%
42%
28
-
42
21%
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32
$
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36%
17'A
108
17'/a
.
&
10
81% J
16%
100%
107
33'A
19%
46
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24
,28
33
103%
38%
..
24
9%
11%
9
105
22
s
40
111
20'A
22%
103%
34 i:
17%
37%
16%
25%
21
111
37
24
76%
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21%
22%
11%
15%
33%
42
23'A
9
17%
107
27%
.
.31%-; 34%
84%
22Vb'
,
36%
81%
109'/4*110
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24%
31%
15%
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-
110
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21
29%
:
55%
33
80%
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35
;
113%'/
30
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;
107
112'A
20%
A
15%
21%
107%
20
.
125%, 129.
;
49%
56'A "A"50"/X55%;
23%
:',21i/4
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23
Xl07%
110
109
109%
$
108%
105'A
23%'.
.113.1%-S i
.118'A 120%^
12'A
88 'A
107%
104%/107%
19%
110'A
24
25'A
117
'$
.
'
10
501/4
107%
42%
19% / 22
:i06,$;108%, ,^105:/ ,108
21
22'A
A 15
31%
10%
110
^
24
98
Xlll
31%
120%
26'A
.<
V 39% '/■■
116
24%
108%
43
46%
114
077/,':
20%
34%
45
44
29
$
/
13Q
112
101%
16%
21%
,
21%
33%
24%
38'A
■
44
28%
105%
20'A
15'A
27%
32%
103%
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98% 100
/
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'
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:114-
111
28%
'
:
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36%
107%
63
32.
.39%
101
100
30
43'A
"
49'A
103% -103%'
.
27%
.
?
20%
i09
96
.
21%
11%
23%.
42V*
27Ve
110
39
27%
■? 101
28%
110
32%
104% 1063A
■
1
24%
42'A
18 Va
25%
108
45i/
103
44%
26%
113
19%
110%*
101%
••.-.."'X'S
...
40
40%
19 /i
Antelope Copper Mines—
.........
45'A
30%
-
112'A
031
35%
21%
17'A
113y«
1
,•
102 a 105
44% i' 47
35%
98
21VB
37%:
106
32'A
34 Va
1105/a
100
114
34%
36%
53
♦
20%
104
27%
100
1133/0
114
A
;
,
126
39 Vb
45%;
24%
40
,
,
.
56%
,
112
25%
38%
43
30%
14
23%
.
.
61
129'A
,'48%
57
1091/4
'29
110
49
31%
31a/4
44%
112%
60
387/B
107%
99'/a
44%
"
57 »A
115
31%
1
50% '53%
27%
111%
30%
29s/o
♦
103
52
*
'
31
25%
57%
II
100
512.;$
95
46
26%
20%
l2Va
'21%
*
23%
;17% -;.;;'i5%':.:>n%:;i
J2%
15'
15% ;
38.
n%
43%
125'A
47%.
110%
1091/2
112%
31'A
15
♦
Royal Typewriter Co., Inc
.123
24%
111
50
553/!
153A
_io
25%
111'A
29%
50c
A.j
22%,
111
I"'
331/.
......Z25
series
28%
112%
99r
on3/
44%
,
.113
:.
38%
;
77
26%
46%
371/4
49%
23%
111
88% f 90
37%
53'/a
/
114
94%
29
39
28%
50
200
;
20%
-112% 114%
117%
47%
23
38%
37
26'A
'
28% ; '•
24%
111
; 63%
56
/
19%,
43%
38%
63 VB
89%
27
/
113'/2; ,110'A; 114%
120
118% 124
128 •'
92%
33
1101/4 111%
39%
44%
..58
/xl09%
114%
24%
47%
52
15
11%
$•"' 17.'A
104%
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20%
27'A
29%
25
,
45
27
5
2?
....
121
11 %,,<«%
29%
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44%
21
17%
90. V 101
3(J%
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16
47
37%
122%
24
46
38%
116'A
13
24%
51 y2
125%
22 %
26%
33%
25
151/4
32%
112
16'A
46%
28
20% " 23
107 5A "t
23
112%
50
<.
22%
32 %
,
108
14%
23%
38
71%
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.
15%
16%
15
14%
;
54
101%
103
88 %
,
42
52
14%
12%
.
27
21 %
24
111
33%
66'A;
59
-
12%
*
109
35
28
37
,
28%,
49'A
26%
69
17%
20%
.
115%
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•;
36'A
112%
112%
22%
1061/4
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57
115%.
*
22%
37%
>
50
45
25
34
28'A
25'A
67%
41
27%
-
•
'
113%
16%
91%
46i/.
1
X22'A
87
110%
28%;/
18
30%
61
113%
37
23 %
15
110%
25%
110
16
20%
18%
21%
28%
,
67%
21
23'A
22'A
61/
113%:
27
139%
32%
15'A
.17
135
145
38%
19%
41
1
footnotes see page
35
446
109%
Corp—153/4
lnc..27%
(The)
112
21%
151/.
123
100
preferred series—..
Rheem Mfg Co.—
Richfield Gil
/v^Amerlcan shales.
38%
92%
90
•
111
34
138%
147%
19
62
116%
108
59
50
24
14%
41/ft,' //■36%t:40%: $ 31
138%
..Ilio
Inc..
•
,J03
X101
103%
36%
115%
38%
'
*:
12
9%
17%
40
145%
112
8'A
110
14%
53
117%
661/4
71/4 /
12%
110
"•
35'A< <2%
9
13
"
62%
149%
61%
9%
12%
107%
;
38
7Va"
200
50'A
145
25%
/
200
55%
114%
62 y2
33%
39Va
16
41%
14?i
25y2
-
14
66
104%: 112
58%
.
203
200
200
68%
55%
110
20
20
17
51
124%-
67 %
200
18'A
' Xl6% ; 24
v
79 V2
62%
114%
x23 %
206 V4
19%
•-
13%
67
110%
r r:
:,19%/'"
"17%
72
55%
X63 Va
08%
52%
102% 105%
34%
•
79%
20'A
51
57%
62%
39%
•
.
10% Xl3%
J 89% 98
/
'98%
97Va
67%
13%
106%
10
36
•
102 % 104 Va;
76
23%
24%
30%
22%
32 :
•,
60 V*
19%
19%
125
icsa
18
"
113%
21%
16%
19
20%
.21%
,
27%
*
3.607®
For
47%
18%
122%
preferred
100
Reynolds Spring Co..
1
Reynolds (R J) Tobacco class B—.10
,-Common-'
Ruppert
38
110%
convertible
Co
37%
21
125%
pfd 100
preferred
Ruberold
36%
2^%
C83A
50c
Reynolds Metals Co......
;
25
114%
50
,Revere Copper & Brass -Inc...
Roan
•;
23%
50
Republic Aviation Corp...
Republic Pictures Corp
$1 cum conv preferred—
Republic Steel Corp
•
20%
38%
35%
?0%
50
rReo Motors Inc.—
Ritter Co
29%
121%
25
...
4 $4.50 cum preferred...
-
25
25
109%
•
1st. preferred..
2nd preferred
'Remington-Rand
5 % %
38%
29
27%
125
1
Hosiery Mills Inc
conv
34
17%
24%
25%
63%
33
18%
17
12%
22%
14%
114%
100
Inc
Reliable Stores Corp.....
Rehance Mfg Co..
6%
39%
22%
15%
19%
111%
nILC»m PrTeferred-——100
5%%
31%
20%
24
26%
18
134%
1
.....
Reeves Bros,, Inc.......
Reis (Robt C) St Co 7% cum
:
26%
22
121%
*
Co..'!.—"
4%
26
24%
28%
123%"
♦
preferred—...
Raybestos-Manhattan
Rayonier Inc_i.__
$2
24
110
F8
/
20
9%n
80
^
83%-->
*
22
113%
351^
52
■
'
20%
-
103
78
24%
136%
10
Radio-Keith-Orph Corp..,
conv
30
25%*
62
113
;•>'
§5
84-
57%
'
34
•
132%
32%
Radio Corp of America
v $3.50
cum
1st preferred
6%
27 %
X21%
-
34%
13
1
120
109
24%
80
17%
y^%-;'9%-
"7%
133
109
100
100
>2
-
201
30
10%'
92%
87%
91 Va"
27
25%
•
35%
104% 106%;
96%1IOO/2
24
.26
$51%
97% 100 &
206% 208
41%'.,
8%
130
88
28%
208%
126
;
Quaker State Oil Refining Corp
'■
39%
19%
99
€0
20
18
/
89
40
21%
;?V. i
157/a
'25%'.
93%,
38%;"
20%
109
200
30%
^29
24%
59%
34%
105
117%
12 Va
-
$
,
18
23
38%
$ 131
'» 00V2-
131
92%
26
21%
27%
208
58
jpto °u wm«i A™.,..—
207A
24%
91% ' 97
;
//$.
197
19%
16%
v;i
132
<
25%
23'A
197
41%!
12 -v;
X10%
10%
98%
12%
101V4
' 209
39%
12
20
131
29%
•
43%
-
~7%
93
10%
-
rqsa
25'A
100
116
30%
33
33
105%- 104% 105%'
123
•125
125
8%
10%
i8":y-9%'
104
:
98%
23%
■•$" 28%
202
43
23
115%
14%
109
107
29%
34%
102% 108%
13%
1153/4
fio%
116%
11%
v
123
136%
♦
116%
108
18
$ 101 %
100
26%
25
29%
33
35%
108% 109%
132
E1 & Gas 85 pfd—114%
Inc
r-8V2;
X54%
135
11%
13
100
34%
108%
135
108%
101
24
.32%
108%
33;r 34%
•
14%
'
100
preferred
oyc
-
—
27'A
i~
20%
23
120121
-
25
33
122%
113
r——,100
1%
30»/2
13%
X105
62
97%
25
25%
70%
11%
v
22 »A
60%
30%
34%
107% 108 y2
135% 136
»
12 Va
65% ' 72%
30%
108%
t
73%
100
A—*
{
iV"
27
28 Vt
33% -40%
66%
10
27%'
24 Va
25%
119%
93%
43
70
40%
-
21%
29%
28%
20%
107% 1U
105
-106%
21%
25%
120% 126
62% ;
35%:
107%
135
11%
24 Va
68%
44%
23Vb
65%
111%
25%
85
50%
14
112
106%
30%
33%
49%
ltt>
63
51%
62%
109%
11%
,-
•
/
42%-
67
118
277/a
15
65.
»A
38
'
31
102
"
112
29
22%
55
■•
'
'.
9%:
xi4 y4
40
31%
98
111
110%
32%
27%
33
108
8%
15
37%
63%
15%
35
107
!
65
25%
12
■y.'30
.
10%.
13%
54
28%
17 V«
42%
50%
110
128%
30%
127
39%
33%
^--ruUUft Sei^ce.Corp of N J common...-
10
14
86
83 ; :
90/.
62
108
104
32
119% 119%
120
118
120%
17%
85
24% '
21%
'
107
$
110
111%
l'
24%
110%
102
35
126%
54%,
106
54%
109
68%
108%
•
28%
31
•
__
V*
217A
333/4
Colorado..."""''^
'
?7%
x25
28%
23 Vz
112
9
31%
14%
24%
30
13
67%
28%
?0
.*
20%,.-
106
8%
10%
15
77%
22
62
64j/a
♦
Z..5
;
95%
16
32%
105%
14
83
60
90
J08
28%
105% 107
66 V*
27
283/!
95'/2
18'A'" 20%
90
14 %
91
oat/
24
*
75
90%
33. '
721/4
471/2
32%
33%
86>A
18Va
19%
13%
85%
00
29%
51%
55
107%
61%
26 Va
32%
Poor A Co class B
a.........
Pressed Steel Car Co
Inc......::::"!-
'
39
53%
27
14%
91%
9^3'.
25'A
42%
52
22%
80
343/4
23%
29%
111%
13%
16%:
28%
y
23
,49%
$ 37%"
16
64
81%
115
21%
96
22
112
42
-
25
•
X32
115
23%
100
23%
101
104
33$$
,
17%
125
1241/4
90
106%
41
107%
11%
21% ? 29%
33%
22%
28%
59
.
21 Va
49 Va
41%
33
111% 111%
41
57%
45%
138
263/4 301/2
]
32%
111%
.
22% A.
19%
30%
18%
31
111%
20
*
21%
13 r.
11%
•
8%
18
"
41%
•
8%,, I
24%
6%
7%
23%
28 V«
40
,4
67
115%
21'A
32%
43%
,
29
-'13
113
26%
12%
50%
$73'A
39'A
AO//.
86%
18%
45%
21%
113
23%
•
--1
fi>
202
130
83%
79
53%
53%
205 f? 205
-
14
30%
72'A
50
14%
25 Va
fat
%
65%
ser conv pr pfd_ 100
•;
12%
13%
21 Va.
; oTia
,Pr?.fe"ed, class A—^—100
43
12'A
.
34
78
56%
12%
102 Va
42%?*48%
p}"8 Young & Ash
43%
134
Jos?/..
123
39%
4%
44 >/4
31
14%-
11 Vb
14%
40%-
30
21%
14w
:.
63
4
40
14%
37%
49
102'/□
10%
12%
11%
37%
'
103
•a
20fi
14%
16%
16%
25%
7s
1k
12
13%
43
-
23%"
"
'vi
,28%
16%
40%
>
203
31
17%
;
AO.'/*
49.
:
15%
33
27%
109
10%
35
'
12%
A14%
64%
52%
-
26%
'
57'A
40%
32
125 Vi
100
108%
12%
110
l
74%
79%
„
v
13%
107%
37%
■
42%
30%
100
49
36 %
.
28%
•/•
' :
55
61."
-4%'
41/
52
4%
54
38%
33%
32
108%
Co.IZIIIIIoJ
76%
57%
53%
•
4 ' *
38%,
60
03
• 3%'
•.
31
'
18
41%
./26/?
27%
'
43%
44 V*
58
120
108 y,
*..1
16%
76
/
113
95% 113%
__
.i...
21%
19%
$ per Share
$ per Share
x36%
07
''4%;*
36%
High
Low
High
Low
High
$ per Share
<
125
-55-
,
17
17%
31%
26
45%-
37
22%
20%
29%
29 V*
4 45
>
46
105 %
*
10%
19%
'
471/4
15%
13%
25%
40
106 Ve
Z
;
X46
35%
♦
36%. ,41
112%
22
47%
„
32%
lloo
Plough In°r <The)
:
13%
52%/ S7Va
71
'
37%
(?
•
Pittsburgh & West Virginia Ry Co.. 100
Ry 7% pfd_...100
5%% first pfd
16%
Iff-41
Pittsburgh Plate Glass Co....^..^.! 10
Pittsburgh Screw & Bolt Corp___>
Pittsburgh steel Co_.j.......
•,
7% preferred class B
100
^
r
42%
25
Pitts Ft Wayne & Chi
Ry
7% gtd cum preferred
qv
57
37%
15%
1271/,
1
——
,
52%
27%
'
t
57%
43%
.5
Pittsburgh Consolidation Coal Co
Pittsburgh Forgings Co____„__.
y; 77%
4.
,
118
Z01L
125
53%
•54 preferred
J.
Pitts C C & St Louis
Ry Co_____
Pitts Coke & Chemical
Co.......
•
73
42
^
100
Pillsbury Mills Inc
^$5 convertible
78
27%
71
atY?
...looi
.1
74%
75%
53
'3%
4%' / 5%
41% '46y4
30%
35%,
16%
18%
18%
21%>
21%
111V*
18%
55'/8
1
-•
7% cumulative preferred
•*35 %> pumlative
18'A
19%
,69 V*t
"lOO
_~LIIII:ioo
series
20
22%
81%
67'/a
6%
42%
"
December
November
October
Low
High
14
oV
«*
preferred~Z~~ZZZ"~~~~ """~~rinn
^Preferred 3.00%
16%
19%
77%
5
6%
September
Low
(per Share
37 Va
jg* ^
C°-~l
Rights0"18 * C° Ltd InCv
.
18
23%
5%
August
High
Low
$ per Share
35%
In if
077/
6%
13%
10%
Ainu
00
5%
20%
38%
76%
117
7
17%
91%
am/
71°
5%
■
-
24%
32%
IU*
'?a&
"♦
111111111
34%
115
1*3/
35%
Co-.._.._IIIH""^
A
31%
1071- 108%
___~m
.Pfd. 3% 7o series
34
34%
7£
10%
ZZZZ25
?hl!;„&CoRrCpadlne CM * Ir0n
30 J/4
46/4: 52
89%
95
ff* 5L
-.™"""l
preferred
48
X40
iivy
♦id
.....
44%
41»/«
prv
°
....
48'/4;
22
100
common
701/4
41%
32
26
preferred _.__._50
Philadelphia Electric
76
45%
30%
6%
24%
61%
111%
Amer______""__5
of
Brewing Co_.
Pfizer (Chas) & Co Inc
Phelps Dodge Corp ^
71
39
32
28%
vAt/:
"Joo
Pfeiffer
$1
36
3*iv.rt
2nd preferred
Petroleum
81
39%
14
:%/e
\%
la
tV
July
High
Low
$ per Share
29%
36%
ZZV
413/
5
::::::
75%
'
5%.
35%
112%
90%
"_io
" "" l0(y
IT" 100
co...
82
a
High
39%
51.
27%
I;
."...lOO
.
67%
Low
$ per Share
34
70%
30%
^
"loo
Co
69%
June
High
13%
"o^/L/
™1
ZZ
Co
'/'-May
Low
$ per Share
21%
11?
110
?
& Light co
57c preferred
Milk
*7
100
Pere Marquete
Ry Co.
5% prior preferred
_
oA*/
4J3/4 Jj#
i?% 1|v
H/ss
10
___
Peoples Drug Stores Inc
Peoples Gas Light & Coke
Peoria ft Eastern Ry Co
„
onv
!
When distributed
i
I
%
Pennsylvania RR Co
II"~
Pennsylvania Salt Mfg Co
pet
ff#
/4
& ^y.
Airi^es" Corp"!
"
& Coke
Corp"
7%
High
29%
??%
Coal
Penn-Dixie Cement
-
15!/°
-'
q
111
Penn-Central
Pennsylvania
Low
$ per Share
35%
.
Consolidated Amer shares
Penick & Ford Ltd
Inc
Penney
High
63
67%,
5%
&
Low
$ per Share
v
Parmele? TraSSJSrtation" cV~~/?'5J
Mines
April
.
High
$ per Share
Inc
57
Patino
March
'
8%
15
.
30%
7'A
8%
17'A
.73%
57%
26
,
Thursday, January 23, 1947
fHE COMMERCIAL & FINANCIAL CHRONICLE
Low
High
$ per Share
St
Louis-San
Preferred series A 5%
New
Oil
Seaboard
59%
53%
107
108
14%
115%
113
116
14%
17%
14%
16
113
34•%
114
13%
16
30
,
50
49%
56%
$ per Share
77
88%
76%
84%
82%
89%
84%
96%
57%
54%
57
56
59
56%
61
56
114
107
109
107
110
107%
109
107% 109%
%
106%
108
110%
113
27
112
22
12%
33
112
113%
113%
9%
24%.
X22V8
26%
113%
11%
112
10
10%
10%
83%
55%
66%
53
63
53%
60%.
44%
59^
13%
61
fi
100
22%
56
42
49
42
49
44
50
100
101
11%
11%
108
108
108%
29
15^
82%
53%
57%
53
56%
30%
23%
114%
12%
High
Low
High
.11%
31
112%
60
18'
107% 108%>
109% 110%
107#
106%
110
Xl08
31%
69%
37%
34
373%
28%
36%
73%
68%
71%
62
71%
30
37%
31%
34
69
77%
70%
74
70
73%
28% ' 32%
26%
20%
27%
34%
34%
39%
32%
36%
32
35%
13%
17%
13
14%
12%
13%
123/4.
13%.
10%
123/4
39%
45
40 >
14%
49%
33%
12
38%
12%
45%
48%
41%
46%
41%
45 f
22
19%
23%
20%
23
18%
22%
21
22
19%
22%
76
15%
36
45%
-
43
: 44%
:
19%
23
24%
20%
19%
21%
19%
21%
19%
22%
111% 112%
23%
111%
113%
112%
113%
1113/4
112%
1113/4
20%
28%
26%
36%
22%
1133/4
98% 103
23
.
27%
25%
25%
.
31
32
40%
*
23%
26%
32%
273/8
31
39%
34%
105 %
29%
34%
31%
393/4
18%
22
17%
51%
443/4
23
27
23
27
25%
8
6%
7%:
38%.
6%
17%
-
36%
39%
35%
41%
17%
11
14%
10%
13%
■22%
54%.
.
28
,353/g
11%
183/4
16%
12%
112%
13%
153/a
13%
17%
141/a
108
Xl3%
110%
108
16
15
13%
13:
16%
106
13
105
109%
.
143/4.
.
109
,
23
17%
21%
18 3%
22%
21%
32%
23%
31
28%
33%
30%
333Y
28%
253/4
29%
27%
30%
29%
34%
78
83
25
28%
20%
27%.
19
32%
373/e
33%
36%'/
24%
,
—'.fi1
23%
33%
87 i l
273/4
8%
7
99%.
953/4
102%
41%
37%.
34%
46
9%
14%
m
20
31%
51 »/8
30
283/4
37%
43%
103%
99
13
110%
105li 105li
313/4
221/a
'
34%
105 3 J
303/4
16%
7
26
37%
105%
17%
100%
37
44%/;
20 -M
22%
i
21%
543/4
24%
35$/
40%
223/4
18%
101%
42
.
.
10%
112%
20%
110%
.
34%
103%
104
24%
28%
27%
37%
101
106
102
'■
103%
17%
26%
■
21%
,
67
9%
■
101%
109
17%
53
30%
37%
36
103
23%
32%
20%
$5- convertible preferred
Sharp & Dohme Inc
$3.50 convertible pfd series A-
114%
15%
90%
1
& Gas Corp
113%
12%
114%
14
53
67
„*
1
_•
*
Sharon Steel Corp—_
27%
33
29
15%
113%
15%
34%
"
106% 117
5
$4.50 preferred
Low
$ per Share
•#
—
58
33%
—*.
Seiberling Rubber Co—
52%
45
December
November
High
$ per Share
1003/4
5
Co—
Low
High
$ per Share
56#
49%
60
80%
.Servel, Inca—
Shamrock Oil
$ per Shares
62%
55
Low
Higl^
Low
$ per Share
54
—*
Co
&
Refrigerator
Seeger
53
12%
*
(The)——
Roebuck
Sears
100% 119%
113
100
Delaware
of
Co
Seagrave Corp
64
29%
32
100
preferred series A
5%
113
113
18
126%
*
-*
...
Seaboard Air Line ctfs
.
114
114"
114
29%
30%
,
f i Scovill Mfg Co 3.65% cum pfd
V-
25%
28%
24%
27%
1.75
$4.50 preferred
$4 preferred
X59%
October
September
&■
August
July
~
Low * High
Highv>
i#'
25%
*
Distillers Corp
common
Rights
■!;!
,
Low
$ per Share
-
5
100
5
5
Scott Paper Co_
.
62%
57
June
,May
High
Low
$ per Share
100
i
w
Savage Arms Corp
Schenley
(
$. per Share
63%
59
63%
59
63%
Low
High
$ per Share
*
i
Safeway Stores Inc
5% preferred
Y"'<
Low
High
$ per Share
Ry Co—
Francisco
Common vtcw
52%
10
Joseph Lead Co
St.
April
High
March
February
January
Low
STOCKS
253/8
77
78%
82
78%
83
81%
83
82
91 Ye
86
89
85
85
85
83
80
80
79
81
20
80%
24
80
*
„•
20%
25%
21
233/4
22%
263%
243/4
26
233/4
26%
213/4
243/4
21
17%
21%
181/4
20%
181/4
21%
18%
20%
Sheaff er < W A) Pen-CoShell Union Oil Corp——
76%
70
77
70%
75%
70
76
73
87
82
85
78%
833/4
80
82 W
64
75
70
„»
15
66
73%
65%
70
66
87%
35
403%
38
43
433/4
37%
42%
331/4
38%.
29
33%
28
33
28%
311/4
Sheraton Corp of America-,
ll'/i
14%
8%
12
8%
10%
—1
—
—
—
—
8%
10m
6%
8
5%
7%
6%
Shattuck
Silver
(F
Co——.
G)
-
Co——
■j.;; Skelly Oil Co
■—
cumulative
Corona Typewriters Inc
Socony Vacuum Oil Co Inc
So American
Gold
■*-
5%
preferred
Southeastern
o-:'
393/4
33
39
50%
43
48%
44%
15%
173/8
15
16%
15
50%
16%
56
65
14%
19%
20
18%
223/4
21
23%
21%
23%
221/4-
23I/2
22%
75%
63
70
44
633/4
42
51%
491/2
54%
51%
39
48%
36
42
36
42
353/4
39%
48%
36
100%
102%
35%
19%
24%
19
22%
24
227/a
24
223/4
23%
223/4
24%
223/4
23
23
23%
91
74%
853%
71
77
73
81%
75
81
66%
79%
45
54%
38 3/a
35%
38
37%
41%
17%
15%
16%
16
17%
16%
73/4
6%
Greyhound
„
104%
Lines
Southern
Natural
Pacific
Southern
83/4
63/4
8
Co
36
31
34%
54
59
53%
593/4
175
Mobile
37%
43%
36%
40%
29%
35%
31
361/4
30
17
18
44
18%
17%
18%
16%
18%
14%
16%
13%
15
13%
5%
6%
5%
43%
5%
4%
180
6%
73%
6 3/8
7
6
X7J/4
43%
41%
543/4
52
60%
52%
57
52%
58
54
57%
51
553/4
53
56%
53%
56%
182
188
30%
176% 185
185
193
X191
1913% 193
38%
28%
36%
39%
33%
28%
333/4
283/4
23%
26%
25%
'28%
583/4
69%
64%
70
58%
69
53%
64
40
55%
38%
45%
42%
46%
42%
49%
483%
57%
51%
57%
51%
623%
58%
65
543%
623/4
491/4
60
33
49
33%
42
36%
43%
39%
413/a
88
81
88
813/4
85%
81
86%
82
87%
85%
903%
82%
89%
78%
X85
65
78
641/4
72%
65
71
651/4
74%
92%
91%
93
80
91
73
80
78 J/2
79.
76
77
253/4
19
223/4
18%
22%
163^
20%
5%
7%
5%
95
93%
96
93%
96
92
95
92%
92%
84
92
25%
19%
24%
20%
24%
113/4
23
303%
26 3%
293/4
24%
28%
21%
10%
12
10%
123%
10%
12%
9
24%
22
27
20%
23%
18
13%
11%
13%
10%
10%
15%
18%
IB3/*
98%
98%
98%
98%
41%
463%
46%
49%
48%
51
39
33
36%
32%
85
28%
16
19 %
92%
95
95
95
42
40%
33%
45%
35%
44%
40%
19%
17%
78
83
73 %
85
82
21
25%
20%
25
21%
r
102:
38%
31%
34
29%
32%
27
81
823/4
85
80
86
82
39"%
33%
373/4
28%
34%
23
109%
104
106%
93%
99
94
98
98
613/4
69
62%
68
64%
24%
203/4
43
47
45%
55
112
115
41%
114%
113
30%
47%
34
48
114
47
116
44%
50%
112%
49%
523/4
115% 115 %
114%
49%
134
114
423/s
128
149
125
139
45%
39
114%
110%
114%
115
35%
47%
53%
44%
112% 1143/4
48%
443/8
135%
128%
48
141
146 3/4
473%
43%
52
51%
59%
42 3%
38
44
433/8
47
62%
683/4
64%
693%
69%
78%
Standard
Oil
Co
(Ohio)
20%
24%
24%
26%
1073% 108%
106%
107%
25%
22%
23%
108%
107%
1073/4
18%
21%
19%
22
23%
20%
25
48%
41
49%
41
43%
42
46%
453/4
42
46
46
58
53%
X453/4
743/4
25%
106
18%
59%
134%
41 %
123%
139
135
149%
42%
41%
100
45%
105%
145%
128
41%
108
107
107
108
108%
107
109
45%
55%
27%
26%
32%
28%
77
1063/4
70
87%
81%
94
87
114
126%
139
84
126%
78
92%
87 «/4
98%
93%
122%
553/4
50%
553/a
52
553/a
53%
573/4
39
421/4
37%
41
39%
42
64%
70%
61%
69
64%
69%
106%
107%
106%
23%
23%
47
53%
37
46
40
42%
37%
42%
37%
19%
24
16%
20
17'/2
55
63
203/4
xl7%
193/4
58%
493/4
55%
45
50
45
53
45
453/i
49'/4
109 %
253/4
1083/4
109%
104
103
51%
1043/4
108
106% 108
49%
59%
1083/4
10$%
143/4
19%
14%
)7%
25
31%
24
313/e
20%
27
20%
25
21
213/4
21%
2P/4
21%
21%
21 »/4
223/4
38%
17%
20%
38%
263/8
34%
*
19%
23%
18%
223/4
18 3/4
21%
20%
233/4
203/4
23%
20%
23
18%
I
30%
34%
26%
33%
28
32
29
32
29%
37%
34%
38
30%
18%
37
21%
Sunray
Sunshine Biscuits Inc
.Sunshine Mining Co
Superheater Co (The)
Superior Oil Co (California)
Superior
•
New
Steel
Sweets
Swift
$4
(The)
173/4
283/4
203/a
31%
15%
181/4
15
16%
23%
18%
22%
19Va
22
193/a
13%
153/a
I2V4
103 s/8
106
105
106%
106%
73%
61%
70
63
67%
641/4
124
123%
124%
122
12%
16%
9%
123%
X122
124%
120%
123
113/8
8%
10
73/8
7%
9%
11
14
11%
133%
46
50%
45%
54%
50
56%
42%
51
45%
54
42%
20% X22%
19%
53%
223/g
51
24
19%
10%
10%
54%
8%
17%
21%
14%
20%
12
15%
10 3/s
13%
11
29%
35%
27
33%
149
150'/a
33%
30%
31%
353%
43%
40
44%
43%
51%
39
46
46
55%
50
52%
42
131
26%
31
20%
105%
120
18%
22%
173/4
27
152
148
160
Electrical
40
40%
38%
Products
;
36%
32%
32%
37%
*
41
36%
108
108%
12%
11%
5
11%
Tennessee
Corp
5
17
Tennessee
Gas
100
109
& Trans
5%
pfd
;
Texas
Gulf
Texas
Pacific
Coal
&
Texas
Pacific
Land
136
47%
55
38
48%
39
22
20V4
23
39
44
— —
431/4
43%
42
443/4
42
463/4
—mm
65
21
13%
18%
17%
143i
16%
41
X36
39%
31
36%
32%
38%
32%
36
32%
35%.
31%
27
30
253/4
29%
26%
20%
41
46
44%
5"0
46
60%
60
76
37%
39%
37%
393/4
373/4
40%
38%
40%
38
31%
34
33%
36
323/4
34%
32
34%
39%
353/4
107% 107%
1073/a
40%
16%
123/4
-
14%
31%
343/4
32%
33%
33%
37%
31
34%
28 3/4
333/4
29%
333/8
1083%
107
108%
107%
107%
109%
1013%
14%
12%
14%
12
108%
14
13%
f
10%
12%
19%'
15
14%
17%
;
,11
14%
18 V*
17
16
-
16
13
10 3/4
123%
10%
113%
10%
12%
11% xll%
10%
113/4
9
17%
19%
17%
19
18%
22 J/4
21
253/8
22
25%
19
111%
1083/4
110%
108%
108s/«
109 %
62
9%
10
52
59
93/4
523/4
11%
9%
533/4
50%
14
109%
13%
18%
16%
"
21%
591%
65...
593/4
653%
61%
653/4
62
10%.
52%
IOJ/2
13%
123/4
15%
13%
16%
14%
513%
56
52%
59
56 i-r -60% ■r
-
r;;
>
19%
12%
—
10
6%
Glass Mfg Co Inc
Co
.
22%
27%
22%
29
27
29J/a
27%
32%
27%
32%
21%
17%
20%
19%
21%
203/a
26%
20%
19%
47
51%
42
51
44
50%
47
52
483/4
65
25%
65 •
*
27
30%
64%
Thomas Steel Co
4%
.*
59%
73/a
29
60
%
37
32%
39
61
62 3%
44%
371/8
62
•
61%
X64
42%
50
58- \
41%
63
68%
60%'
-
8%
61/2
17%
16%
56%
60%
61%
68%
54
62%-
18
12%
16%'
IOV4
13%
'585/8
523/4
56 Va
46%
31%
31%
22%
60
10%
12%.
49%
50% •54
21
27%
25%-
s
23%
18%
22Va
15%
50%
59 %»;
35
51
36% £ 43%
60%
62
16%
103%
♦
60
13
-
163%
103
14%
66%
62
15%
v
18%
105
<
16%
13%
.
.
18%
105
54%
61
"
12
23%
22%
30%
26
"30%
23%
19
243/4
23
26
16%
14%
17
143/4
163/4
13s/s
15%
13%
14%
61
66 3/i
58 3/a
69 %
62%
68%
58% ;
64% ;
56%.
61V1.
143/g
123/4
12%
16%
14%
20%
17%
20%
153/4
15%
18%
-50%
107/8
19%
25
17
*
59
100
112
19
68%
112
.
17
53
109
19
Y' .17%' I?3/*
64
110%
17%
49
59%
57'/4
108
109%
107%
19
«
17%
643/4
62%
110%
108%
21%
67%
112
19%
'
69%
1123/4
■
62%
110
ynBB 19
20
19
21%:
643/4
1103/4
.
683/4
112
503/4
v
17%
193/4
163/4
193/4
•
;
54%;
Xl09%
/;
,
13
11%
■10%
14%""l7%
'40 3%
61%
112
;
—
54%
106110%
'
56%-
151/a
J 7%
17.
18%.
17%
.
I 113/4
50%
58
13
10%
13%
171/4
18%
16
Xl4%
15
14%
15%
*15.
f
571/2
'55
54
^
12'A
10%
9%
48
%
52
173/4
16%
10-
59%
153/4
17%
50
x45
*
543/4
14%
'
..
54
52%
153/4
49
18%
"
26%
14%.
.
.
54
/
54 '/4 ;
';
1
—
17
43%
5
,10
14%
603/8 ,65%
153/a
143/4
45%-
-; ,'i'e
>'
>
15/
241/8
105
xl4%-16%
16%
38
12
51
23%
,
24%
■
47' "
613/8.
10%
"'*
.
61%'
70
17%
•
16
105
'
'
13%
*
21%
14%
19%
62%
-
7%
17%
X58
56%
123/s
52
93/4
-52%
27%
46%
X59%
6V4
18
65%
9%
133/4.
l53/4
8%
71%
52
64%
113/4
143/4
15
33
7%
14%
9%
10%
22%
38%
•
50
9%
12%
13%
28%
25
104
101
105%
Xl9%
7%
8%
19%
5
>—
(The)
preferred
r
,•»*
1
Thompson (J R) Co
Thompson Products Inc
■
273/4
17%
Co
Conv pfd $2.50
Third Avenue Transit Corp
51%
29%
preferred
Thermoid
•
21%
100
—
v
26%-
Manufacturing
$3.60
convertible
preferred
$2.40 cum convertible preferred
The Fair
49
51%
16%
Thatcher
Thatcher
48
23%
101
9
7%
14%
103/4
60
105%
10%
8%
23%
•
27%
103%
108
12
15
18
15%
293A
231/8
107%
40
12%
,
263/4
35
107%
1
—100
■0gi Sub-share ctfs
$ Texas & Pacific Ry Co
22%
113
1123/4.
41%
65
19%
57%
*
;
20%
107%
44 %
113
70
13
1
Co.
13%
373/4
102
44%
43%
.
Trust—
Oil
46%
10%
—
13%
v
25
i
104
8%
43
463/4
64%
109
13%
16*%
l
9
Producing Co
Sulphur Co
120
7%
—
36
x373/4
Inc (James)
Telautograph Corp
Co
118%
v
41%
1%
48%
40%
107%
*
Inc
71
my
1
m
22$"
44
52%
41%
41
60%
37%
,
preferred
Symington Gould Corp
107
67%
18
48
53%
25
cum
14%
12%
106%
68%
52
4.16%
Ltd
143/4
iof
19%
39
41%
138
131
138
17
18 J/a
"
1593/4
51%
47%
115
14%
28 3/s
108%
15%
77
120%
<
:51%
118'
38
Inc—12%
Sr
Gulf
* 34%
ISO:
29
78%
71%
%
of America
Texas
9%
18
19%
71
108%
108%
122
15
106
21%
18
23%
743/4
16%
•
108%
120
—J
Co
Texas
23%
17%
35%
135%
36
10
£■ Talcott
/
23%
126%
100
Co
International
-•Sylvania
*
7%
723/4
76%
118% 120
133/4
15%
13V8
_50
—
&
20%
X31%
25
Corp—
—
Co
New
Swift
9%
7%
9%
122
44%
10c
—;
Sutherland Paper
Rights
8%
12.50
75%
71%
117
103
353/4
21
73%
103
223/4
21%
19%
102%
213/4
21%
107
107%
28%
22%
20
24%
107% 110
102%
41
213/s
21%
1233/4
411/4
44%
263/4
51
22%
65%
"
14%
40 %
51
54%
45%
21%
121
37%
48%
52
53%
22%
123
433/4
243/4
101
121/8
x243/4
56
49
49
22
k&j'
39
47%
23
64
100%
143/4
43
2P/4
123
23%
106
11
22%
73%
123
25
102%
115/8
16%
21
67%
233/a
13%
12%
203/4
21%
253/4
1061/4
Xl05%
19%
303/4
107%
22%
105%
107%
15%
21%
26%
17%
27
107
23
26%
107%
17%
19%'
29%.
30
108
27
28%
27
28%
107
39
1063%
383/8-
71%
233/«
18%
383/4
43%
32%
107%
22%
51%
49
263/s
121
99%
20%
129
37%
62
393/4
*
39%
34%
38%
20%
100
l
1103%
112
59%
35'
16%
34%
1103/4
40%
35%
110%
783/4
22%
106
43
111
112
47%
34%
203/a
383/4
18%
453/4
43%
110%
551/8
21
108%
44%
1113/4
393/4
72
32
16%
39%
110%
42
22%
106%
16%
18%
443/4
111%
107%
109%
47
113%
153/a
18%
15%
41
47
114
56%
34%
18%
41
109%
47%
20%
108
18%
15%
21
Y 78%
30%
cum)
18%
88
53%
25
(4% %
15%
85%
76
35%
preferred
Oil Corp—
18%
93
45
20%
A
X85%
78
293/4
Class
14%
91%
49%
24%
17%
19%
87%
58%
30%
107
15
96%
75
22%
*
23
•
44%
24%
l
.
53%
1
Sun Chemical Corp
$4.50 preferred series A
Sun Oil Co
|
56
2P/a
78%
5
Webster Inc
23 3/s'
493/4,
B Stokely-Van Camp Inc
5% prior preferred
Stone &
41
19%
113
52%
131
141%
tf Stewart-Warner Corp
—20
38%
233/4
17
115
40%
109%
.1
5
39%
27
84%
47%
43
114%
54
43
37
20
59
50
:•
253/4
101%
16%
18%
128%
129
37
17%
105
40
114
50%
60%
139
43%
l
463/4
132
69%
23'/a
21%
1143/4. X1133/4
111%
55
111% 112%
114%
44%
107
41%
18%
100
96
433/4
22
15
%
22%
46%
116
44%
48%
113% 113%
23%
52%
203%
45%
113%
126% 143
65%
10
100
11%
133/4
98%
40%
100
'
6 3%
5%
7
11%
14
100
'100
37
29%
95%
32%
100
107%
103
24%
403/4
43%
132%
92
49%
11%
19%
Xl7
73%
33%
113%
118
16%
13
25%
86
28
8
6%
100
26%
32%
%'
99
112
20%
45%
49
35%
86%
75%
55%
93/8
100
104
.'
£■
23%Mi 17
:
16%
21
43% :
49
23
7%
113/8
100
103
43%:
40%
94
31%
26%
85
25
/ Studebaker, Corp
343%
593/4
25
Sterling Drug Inc
3% %
preferred
30%
33%
493/4
(New Jersey)
4%
29
£81%
34%
273/8
31%
62
Co
Starrett Co (The L S)
Sterchi Bros Stores Inc
33%
373/4
Oil
Steel Spring
convertible preferred
31
62
Standard Oil Co. (Indiana)
preferred series A—.
35
32
Standard
■3%%
30
168
373%
*
Standard
38% /
167
563%
19
*
*
(Del)
223/4
53%
54%
176
27%
♦
Oil of California
35%
39%
50%
175
35%
*
prior preferred
176
623%
•
$7 prior preferred
171
58%
273/4
*
pfd
xl75
48%
37
91
•
Brands Inc
54
172
59
184'
54%
1
preferred
49
f
54
172
187
25%
*
t $4.50 preferred
$3.50 cum preferred
Standard
48%
34
1
$4
39%
66%
•
Co
45%
2Q3/4
192
23%
Elec
36
46%
41
5
39%
1
&
52%
27
*
preferred
Gas
521/4
55%
New
Standard
8%
53
24 3/b
*
Squibb (E R) & Sons
Standard
7%
33%
2
conv
9
65
83
1
Square D Co
*
52%
44%
57%
48
56%
X54
">/*
$4.50
4%
56%
•
Spiegel Inc.
Rights
14%
53%
26
1
(A G) & Bros Inc—
35%
13%
15
4%
5%
39%
100
Spear & Co^
$5.50 preferred
Spencer Kellogg & Sons Inc
Sperry Corp (The)
Spicer Mfg Co
;
•:
6%,
39
100
certificates
38»/i
30%
57
*
Ohio
&
55%.
102%
99
22%
*
Gas
Sparks Withington Co (The)
51
102%
36
7.50
Co—.
non-cum preferred
•J Spalding
.
101%
105%
40%
48
179
34
25
Railway Co
$6
101%
52%
*
100
preferred—
$4
106%
7%
6 3/a
5
Co
Southern California Edison Co Ltd
'•'£/
105%
108
5
Southern
23'4
24
45
69
24%
15 5/s
17%
68
85%
21%
34
15%
23%
78%
24»/4
173/4
17%
19
84%
21
39%
151/4
14
763/4
23%
16s/a
74%
17%
581%
21%/
24
/
77%
20%
37
66%
78%.'"
71
23%
41
16%
653/4
18%
72%
21
1053/4
50%.
X6l%
67%
57
27%
104.
41%
48%
,15
243/a
60
21
55V4
x36
80%
55%
51%
%
7%.
67%
61%
80
51
'
50
;
Rico Sugar
Porto
8%
-
33%
421/4
18%-.
61
19
7.50
New
South
%5%
43%
5 '5%#
17%
48
203/a
54
*
Gas Co
35%
52
19%
49%
46%
19 '/a
17%
15
1
Platinum Co
&
South Carolina Electric &
43%
56
173/4
49% X56%
41%
100
Smith &
523/8
50
54%
43%
20
.20
preferred
46%
60
48 3/i
40
413/4
9%
61/4
8 i/a
20
51
451/4
41%
45
7
11%
18%
50 3%
50
383/4
9%
12%
56%
10%
31%
8
10
52%
13
11%
44%
10
(Alex) & Sons Carpet Co
3j/2%
—
13%
145/a
*
'I $1.20 preferred
—
113/4
11%
203/4
39
—
—
13
14
19
~
11%
435/e
11%
20
| Smith (A O) Corp.Smith
—
15
,
Sloss-Sheffield Steel & Iron Co.
*
—
*
_*
-
35%
29
32%
—
*
—
j(. Simonds Saw & Steel Co—
^ Sinclair Oil Corp
27%
—
—
5
King Coalition Mines Co..
Simmons
34%
30%
X28%
11%
93/4
..
.
I81/4.
16 :
'
'38%
43%
102 -106
-•
39%
104
-
-
441/2
106
"
42%
54
102 -1063/4
.
v
s,:,
cte zt
)f;i:rx
:-J«»•■■ J':
..Volume 165
Number 4562
THE
-
Sij. ..;'..
'ft*,.-„V.; £'.'(:■ ■■'; /
IX!
COMMERCIAL A/PINANCI AL CHRONICLE
511
NEW YORK STOCK RECORD
January
STOCKS
S°Der Share
3m«er7ef.°l.lnC----
February
Low
High
Low
$ per Share
$ per Share
Ttoken Roito
Axle
13%
65
18%
22%
"o£
CoJZZZZm
irartng" c;::::~;—5
Transamerica Gorp
iqu
Forging
oiu
60
ransue
71
TtH"i^r6o7r:::::::::::::::' 2891"
Truax-Traer
Tubize
2"
Rayon
4%%
preferred
Twentieth Cent
«o0
Corp"
preferred
$4.50
prior
!
_Z
Fox Film
$ .50
■
~i
preferred—.
..III*'
.Twin City Rapid Transit
Co
Underwood
Corp
0
Union Pacific RR Co
4/tf non-cum
preferred
Union Tank Car Co—
United
Aircraft
Airlines
4%%
United
United
58'/.
261/it
713/.
26%
997/3
25
27'%
39%
42%
373/
163
341/2
4^3^
85
&
3%%
23
26»/4
23% x24%
17
22
cum
9% *11%
111
114
16%
51%
2iy»
18%
21%
13
18
11%
14%
55
63%
47
21%
55
23%
44
50
2oy«
23%
18%
21%
16%
19%
12%
17%
12%
173/a
11%
14%
11%
153/a
67
79
66%
71
58%
67%
49
66%
51
63%
52%
57%
52%
56%
24%
22
233/4
803/4
21
24
31%
112%
30
36
1103/4
110 y4
115
113
108 Va
323/4
125
112
112
noy4
114
1083/4
39
121
18%
21%
32
37%
110%
119y4
26
19%
38%
114%
17
19%
13
38
33
100%
25%
113
114
111
112
110
107
107%
108 %
1083/4
107%
106%
107%
111%
113
1123/4 114
26
28%
25%
155%
28%
163%
29
164%
28%
24%
1493/4 160
151
120 %
1583/4
114
144%
155%
119%
141%
113
37%
391/4
33%
113%
117%
114%
118
38%
40%
27%
313/4
115%
38%
28%
40%
40%
116
40%
40
32
37%
41
27%
113
110
46%
110%
39
84%
30%
113
403/4
273/a
27%
151%
114% 117%
35
39%
29%
253/a
29%
113%
112
97
114
111%
113%
111
113%
112
112%
113%
113
109
111
111
1053/4
107%
105%
106%
22%
101%
105%
96
21
113 Va
21
140%
110
125
123
131
125
106
110
102%
107%
105%
108%
105 * 1073/a
32
36%
21%
39
26%
106
38%
21 '/a
37%
35%
20%
1073/a
161/4
101
19%
26%
20%
47%
38
46%
36
223/a
109%
37%
42%
35 %
41%
37
44%
28%
39%
22
30%
—
57%
46%
53%
46'A
51%
47%
57
39
473/4
36
85
90 3/4
79%
16%
103
371/4
19
106
25%
1 '•
——
^
373/8
46
32%
87%
72%
82'%
39%
74%
80%
62
75
37%
40
63%
70%
63%
68
76%
40
13%
38%
701/8
12y4
313/4
13%
33%
17%
31%
33
26%
15%
30'/4
23%
27
14%
26
28
29%
31i/4
25
25%
12%
14%
10%
25%
13%
283/a
9%
25i/4
267/a
6%
8%
24%
25%
241/4
25
~7y8
"5%
~6%
54
49 y2
"oVa
52
""6% ~6i/a
~6%
52%
"51/4
52%
~6i/4
"4%
551/4
52%
561/a
55
56%
31
27%
31%
34%
35%
35
55
34
5
52%
ZZ
10
80%
89
6%
5%
33/a
4%
56%
46%
49%
383/4
313/4
15%
13
143/4
133/4
Ii%
123/4
15%
83
13%
77
82%
81
861/a
93'/2
93
91
18%
19%
17%
21
18
20
51
163/4
18%
50%
543/4
54%
51
55 y8
52
54'A
146
63/4
85
8%
81
78
82
117
X50
127%
153%
141
150%
3%
4%
3%
4
35%
48%
47%
16%
x54
36%
11%
~8%
10%
"83/a,
10
96
87
92
84%
96
163/a
13%
48
"9%
85
13
143/4
123/4
14%
13%
15%
44
9%
90%
35%
40%
35
40
34%
46
13%
102
152
501/4
53
50
53%
30%
50%
53%
26
43%
51 y*
291/a
27%
43%
23
643/4
25%
19
603/4
763/fl
221/4
21%
68%
21%
22 3/a
58%
241/4
68%
ini
iin
11%
109
I3y8
110
30%
10
109%
31
107%
23%
237
108
120%
1137
204
51
52
so
13%
10%
36%
41%
15%
193/
18%
11%
108 3/a
110
1071/4
109
108%
127
204
323/8
.
24%
108%
1083/4
14%
12%
133/4
13
15%
12%
18%
14%
18
14%
15%
27%
106
32%
108
26
25
21
123%
204
132
121
203%
204
31%
106%
20%
108
24%
13%
20'/4
106%
93/a
13
15%
106% 107%
16
12%
104% 108%
93/4
12%
1053/4 1083/4
12'A
ll'/a
10%
14
9%
11%
9%
28
16'/4
22
15%
203/4
16%
106%
19
22
18%
127
113%
106
20%
113
130
19 Ya
15%
29%
1093/4
106
23%
109%
133/4
15
1243/4
203
200%
204
200
204
47%
41%
46%
72
95
81
18%
106%
13%
115
52%
57
51%
62
421/4
46%
563/4
60
44i/a
52
47%
60%
1&
100
101
153/4
13
113%
104
101%
1981/4X205
192
13% ,17
16
200
192
194
187%
44%
28
35%
29%
35
30
36
31%
35
98%
90
91
90%
92
90%
94
92
92
48 %
55%
40
48%
39%
453/4
37%
45%
393/a
46
"63/4
"93/4
"7%
10%
~7%
~8%
10%
11%
"9%
II 3/a
~9%
II3/4
"9
11
37
393/4
343/4
39
34
18
37%
303/4
36
17%
20
25
18
31%
25%
22%
19%
31%
21%
25%
32
20%
24%
22
253/a
11%
17
11%
23
11%
10%
20%
25%
17
10 3/a
16%
21
xl0%
11
15%
19
103/4
"9%
10%
~9
"9%
35
413/4
38
41%
73
71
54
59
58%
743/a
36%
101
106
100%
39%
102
51%
70
62
67%
68
84
78
80
77
45
50i/4
41
47%
42
563/4
53%
63
59%
64
61
aZZZIoo
ZZ
63/4
9
10%
11%
10%
II
~93/4
I63/4
10
51%
59
453/4
533/4
37
44
84
37%
10%
41%
81
83;
72
797/a
59
65
66
71
67%
56%
66%
56
63
50
59%
51%
62%
ZZ
55%
55
60
55%
601/4
531/4
60
X68%
1
"6%
7%
Wl £
~6
~5
100
~6%
65%
74%
173.
183
65
178
6474
171
71%
184%
70%
179
16%
133/a
Xl6
133/a
79%
65%
78
68 %
74
184%
175
71 y4
80'/2
71%
84%
67%
73%
67%
75%
68
74
87%
86
89
85%
88 y2
84%
88%
83
87
9;^
79%
154
160
80%
157%
97%
166
27%
29%
27%
29%
50
52 y2
50
52
7s/8
93^
20%
1434
7%
14%
80
84%
157%
27 *
18%
128
117
120
80%
157
86%
163
81 VB
155%
91%
163
170%
1783/4
64%
72%
82
85%
158%
83%
913/4
162
26%
21
27%
1
sy8
11%
11%
16%
102%
HOVa
#
58%
195
188
43%
57
94%
194
497/3
39
81
2 50
93%
164
83
26
273/4
26%
273/4
26
27%
25
54
51%
52%
523/4
55%
52
54
53
7%
83/4
73/4
8%
17%
83/4
17%
120 Va
l63/4
109
118
115
19%
119
15%
116
17%
116y8
7y8
13%
21
14%
197
16%
16
22
9s
19
31%
23
18%
39
-
200
40%
47
29%
23%
243/4
19%
263/4
15%
19%
110%
101
200%
187
193
188
193
188
44%
33
49%
•
14%
•
22%
25
203/4
23%
20%
23
20%
22%
48
52
49
51
47
49%
47
49
5
8
51/a
lo
7%
~9'/a
13%
114%
116
9%
11
7
53
41
9%
48%
44
45
25
191/4
23%
19%
21%
19%
15%
11
12%
1053/4
ib?
1053/4
195
193
198
28%
86
34
19
25
18%
21%
173/4
20%
30%
33,
27
32%
22
25%
30
21
253/4
17%
22
23%
25%
23%
25
53
21V4
24'%
20 '/a
233/4
16
53%
20%
15%
17%
58%
15%
18%
16%
18%
54%
58
51
58
50
53%
45 y8
503/4
43
35%
38%
35
21%
36%
40
35
38
243/8
21%
22%
21%
26 Va
21
25%
203/4
24%
15%
21%
16%
19%
17%
19 ya
18% "21%
49%
393A
46
403/4
30
37
83%
91
111
112%
112%
113
112%
113
110%
113
113%
113
114%
112%
112%
& Coke—
11%
87
44%
47
89
129%
80
107
51%
50
9%
11%
92%
121%
123%
preferred—
82
80
81
84
.25
47%
507u
_ZZ_25
Virginian Ry Co
47
51%
397%
49%
45%.
51%
43
45 y4
43
44%
40
447/,,
43
52
165
165
Visking Corp (The) class A common—5
yulcari Detinning Co (The)
100
7% preferred-^
____106
System Inc—
preferred..—100
—
165
163?
175
175
75
—
172
82
80%
172
86
89
I-
433/4
X161
s
173
98,
170
109
105
5l%
53
108
9%
46
X107
52
107 y4
121%
99
12%
10 Ya
12 y«
973/4
90
93%
99
123
100
1183/4
97
120%
98
39% X45%
1
43 Va
108
9%
94
1183/4
49%
108%
11%
99%
120%
95%
50J/a
523/4
51 Va
53
43
41%
43%
42%
44
48%
50%
45
52
40
48%
72
76%
45
170
73
76
36%
108% 108%
8
10%
103%
63/a
82
99%
119% 122
77
43%
46
100%
108
37%
103
33
90
93
94
96
30
49%
43
48
100
102
100%
5%
82%
65
120%
123'A
120
90
87
71/a
75
122%
53/4
64
nrtit pr®ffrred—
(Hiram) G & W Ltd
Dividend redeemable preferred
Walworth
Co_—
Ward Bakfcig Co
.
ZZZlOO
88%
85
50%
45%
48
413/4
47
40
42%
37%
39i/a
38%
40
38%
40
38
43%
33
37%
33%
37%
32%
37
333/4
135
168
146
145
150
157
157
—
78%
135
171
130
155
140
70%
75
72
56
72
20%
X18%
19%
18%
20%
193/4
22%
21
233/4
20 y8
22
17
20
15%
18
17%
39%
421/4
108% 109
41%
108
47%
54
47%
53%
42
1093/4
54,
22%
493/4
20
42%
40
34
40%
34%
37%
34
108%
45%
111
114%
101
113%
2iy«
163/4
117%
20
20%
13
ifi
*
—ZZZZZl
—100
5
13%
15
:
y8'?
103% 105%'
31
98
36
21%
20%
15%
18%
15
12%
143/4
107%
Xll%
39%
353/4
105
34%
512.
•;
63%
109%
105
109
105
109%
1 OR
1OQ
107%
10Q34
106%
108%
105
107
111
115%
m
141%
125%
137
132
149%
133
154%
105
135%
107
20%
20%
21
20
20%
18
20%
19%
;
/
19
17i/a
19%
163/4
20ya
14%
17%
13%
16%
10
104
14
173/4
xl23/4
106
107%
140
66
65%
17
183/4
33%
393/4
X106
45
38%
70
19
?5%
19%
15%
63
117%
20
<
f.
14%
13%
vl5%
1071/4
105%
1063/4
106
41%
40%
56;f
48
12%
14%
107
53%
.13%,
Xl05Va
43%
17%
107
48%
16%
105'/a
IS3/*
107
47%
-
4iy4
443/4
105
'■»«*
23%
100
23 Vb
1%
133/4
29%
II7/a
Ic
14
18
101
153/4
106
106
15 Va
104
105
107
■
283/4,
^
23%
25
£ ll%
10%
I7y2
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18
xio3ya
105
106
X2ya.,
47%
21%
5
—
62%
253/4
20%
88
172
135
18%
102
7%
73
119%
46
39
♦
117%
37
19%
105
120
52%
42
;
65%
43%
mm
j8
•
5%
7%
76
118%
39
«
.Walgreen Co
102
36
'
8%
63%
80
35%
91%
423/4
—
74
100
32%
91%
100
100
50
-
178
165
108
49%
97
51'A
165
34
100
108
40%
178
85%
43
48%
.443/4
173
77%
473/4
45%
1083/4
88
123
.
100
43%
45%
1083/4
9%;
10%
-
83
-
196
29%
110%
95
196
25%
115
122
198%
77%
110%
37%
"9%
198
9%
303/4
110
85
100
88%
39
121
94
24%
81%
110
r9'/o
8
96%
32%
Works———5
79%
113/8
91
90
111
122 "
21%
26
111
77%
46
18%
86
112
120
198
i
93/a
42
22
814.
J
106
47%,
981/4
75
_*
193
100%
7%
83/a
~
38%
111
Corp
198
11%
97%
105
7%
85
110
100
& Power $5 pfd—100
9%
93
100%
.
30%
104
ir?r/ci <dI^1,dend ^rtic Preferred
13%
l6I
107%
8%
45%
^100
40
7%
333/4
30
23%
107
190
105
99%
Ry'coZioo
f
92%
108
6%
"7% "16
9%
42%
106
5%
39
90
~
"7%
6%
95%
6g
_
79%
74%
149
46%
__5
100
68%
142
98%
49
preferred
75%
1483/4
38
19%
44
773/a
67
144
52%
96%
53
77%
77
74
150
56%
150%
53%
153/a
17%
42
46%
24%
44
75
147%
47%
99 y«
47%
85%
65 Va
145
41%
733/4
42
21
2 50
72%
82%
154%
160
144
98
55
preferred
—
48%
24%
—
49
993/4
Igy,
Co
59%
433/4
22%
v
—
98%
101
10
'
84
66
144
12%
22%
101%
'
--
48%
60%
156% 163%
40%
50
54
16%
26%
103
513/4
6%
21
97
X72
174
43/4
50-
103%
45%
7%
11%
100%
6%
-
Co
'£
;
73
26%
j
54
190
102
99
30
18
263/4
213/a
80 Va
96%
200;
46%
21%
155
64%
6%
53%
23
91%
164
51%
8%
117
115
62
85%
81%
156%
28
7%
75
175
54 •
83%
86%
160 y4
170
51%
15%
70
106%
1_100
*
82
69
10 y8
22%
1
170%
59%
27
8%
106
1
100
166
28
7%
15%
117%
165
178 3/4
62%
52
50
9%
2
*
106
/
■r
17%
74%
80
50
___
101%
—
14%
71%
187
84
1
___
103
28
—
5
*
|
in
12
41%
63
100
Co_50
188
10%
58
5%
113A
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12
51
-f)
•
115
100
113%
36%
—
7u,
105
113/4
67%
5%
213/a
38%
15
■--fe
9% tl2
37%
94
55%
12%
60
14
173/4
20%
105
11
200%
107
4.'
106
1061%
14%
A
14%
13%
105%
12%
123/4
U
98%
35%
73%
37
r
64%
22
12%
361/4
61
13%
44
\nv
118%
125
H
10%
,o
108
204%
59%
36%
fo 5?
27%
106%
21%
24%
32
68
15 y8
27%
227
59%
109%
11 y8
1071%
106
29 y2
26
70
62
21%
163/a
204
2ll
68%
23%
106
1083/4
12%
12%
v
1091/2 1151/8
»
Inc—
i
'
mum
60%
Co—
'1
25
60%
18%
if-
•
h'jS;
51%
26
48%
45%
23%
4l%
48
25%
55
52%
Inc
'
•
M
163/4
105%
18%
273/4
"
;
zi.'
50
553/e
«
i
!
'1
■>•
80%
4%
47%
3%
44
37%
12%
73
8 3/a
80
4%
19%
55%
7'/a
X48%
141%
117
11%
ZZ
6
77
12
«
Chemical
223/8
134
v
18%
1073%
112
223/4
203/4
283/4
A
yertientes-Camaguey Sugar
99%
24%
117%
—
91%
14%
58%
Z.25
31
89
28
A
For footnotes see
page
x263/4
24%
Mining
.5%%
preferred—
Warner Bros Pictures Inc
New
12%
30%
943/4
26j/2
5
4%%
14%
88%
48
1
RR Co
12
25%
95i/2
531/2
«
Wabash
15
30%
88i/4
27 Va
—50
Waldorf
12%
25%
48 ya
<■
Virginia Iron Coal
17%
42%
109
85%
14
483/4
34%
513/4
57
12'A
43%
109
1063/4 107%
XI16%
263/4
16%
52
101%
88
110%
107%
107%
26%
17
33%
105
112
108%
13%
—.
45
•
23%
50
series
Co
50
102%
20%
75%
_ioo
Vanadium Corp of America
yirgima Electric
48
102%
35%
14%
23
Universal Pictures Co Inc
4%% cum preferred
cum
83
105
(
40%
37%
42%
46%
105
1
ZZZIoo
Virginia-Carolina
'
62
19
.2.50
Shreveport & Pacific
55
105
11%
46%
ZlO
Co
•37%
45
50 ;
17*/a
56
77%
77%
37%
104
Xl87/a
17%
233/a
29%
52%
62
16%
18%
7%
noy
19
21%
70%
148
40
49%
1043/4 1043/4
6%
108%
25
30
111%
ZZZ_Z_10
—„
3y2.%
70
105 3A
16%
17
14
7%
110%
6%
64%
108 Vb
56
Steel Corp
Laboratories Inc.
Chemical
56 '/a
64 v;
1043/a
19
18
14%
109%
110
183/4
33%
118
preferred
non-cum
51
68
105%
16
106
58%
86
noy4
•
New
56
•
213/a
15% 19%
'6%7%
8%
112%
22%
40%
48 %
Co
Chemical
18 3A
6%
105
693/4
1
—
48%
8234
105
10
20%
20
Preferred——
Universal Leaf Tobacco
105'/a
73/4
112% 113%
62%
__i0
&
60%
75%
104%
21
24
17%
23%
64
11%
113%
18%
71%
71
108
51%
9
112
22
16%
33%
15%
convertible preferred—
Raalte
79
19%
21%
Universal-Cyclops
Van
63%
105%
66%
84
0
preferred
Norman
.72
156
12 y4
convertible preferred
Wallpaper Inc
Van
57%
1033/a
113/4
113%
18%
553/4
142%
i8ya
ui
preferred
62%
ioy8
111
56%
161%
75
United
Universal
22%
14%
17%
.
—
Stockyards Corp
Stores Corp class
cum
12%
113%
17%
773/4
105%
73
102%
393/4
ZZZZZZZZ.
preferred
10%
111
18%
233/4
ZZl3%
Corp
2nd
12%
24%
47
13%
18%
45%
26
25%■
1
non-cum
58%
106
109%
Co—_5
preferred
Tobacco Co
United
60
74%
64%
106
47
i6y4
100
class
24% X28%
112
17%
117
85
non-cum 1st preferred
United
103/4
111
18%
•
27
42%
20
20
Smelting Refin
25
113%
0
„?0C^P.referred
U S Steel
~
27%
29%
49%
12 y8
__
Rubber
Y
Walker
36%
118
42
16%
Realty & Improvement
Realty Sheraton
6%
31%
111%
73 y2
UNewPlyW°0d Corp
■
41%
1
Co
Preferred
S%
Victor
37%
5
U S Pipe &
Foundry
U S
Playing Card Co
Vicks
30
38%
!
21
19i/4
40
'
20%
14
4'%
Co
convertible
Lines
Vick
26
100
cum
Partic
8%
21
201/4
35
471/2
5
U S Leather Co
4%
34%
<>
Rights
$6
24"
50
17
/s
104%
11 '/a
5
preferred
preferred
U S Industrial
Chemicals Inc_
7%
15
46%
19
/
18
100%
24
ZZZZl
convertible
S
13%
31
57
'
7%
40-
33%
33 y4
Y HKataES-cS---"? ^9
Wz'/c
7%
23%
'
115
78'A
Foreign Securities Corp
4y2%
U
15%
52%
73
179
110%
URightySPSUm C°
S
17
443/4
144%
54%
8iS-iShfrT4
* 106% 108
Co—nc
U
114 i/a
common
&
S
3
119
D S
u
Freight
U
18%
38%
13%
47%
163/4
113
20
_
S
203/4
51%
1121/2
106
16%
17%
101%
112%
20%
443/4
112%
106
543/4
50
543/4
109%
2
24%
22%
106%
J
49
115%
usj/>
20
49
26%
19%
107%
173/4
102%
8%
57
19%
98%
II
26%
593/4
23%
56
17%
99%
2P/4
108%
18%
533/4
65
33%
37%
193/4
21%
H21/2
114
103
109%
32
52%
1097/3
—HZ*
5% preferred
United Paperboard Co
United Rexall
Drug Inc
U
27%
203/4 x24ya
109
111%
2iya
43
8%
High
8 per Share
$per Share
7%
18%
114% 115%
«
Gas Improvement Co
Merch & Mfrs Inc
New
U S
23%
33
5%
48%
64%
18%
93
53%
7%
59%
0
United
S
76%
45
5%
December
Low
High
21%
54
25%
93/a
November
Low
High
$ per Share
511/4
18%
20%
7
108 y4
Low
19%
60
..
55%
10%
55%
23%
October
High
$ per Share
19%
15%
69
77
100
Engineering & Foundry
United
U
16
67%
106
110,
8'/a
48 y4
September
Low
62%
58%
172
50
21,/4
48%
N6W
U
54%
60%
108.
x51%
■
42
118
Corp
7%
preferred
United
Electric Coal Cos
Fruit
20 y4
168%
SS!te^ tPrug Jnc—
Dyewood
54
11%
High
$ per Share
51%
12%
112%
114
United
U S
j47
Cigar-Whelan Stores Corp. 30c
United
9%
16%
igy.
IIIIloo
Corp
47%
9%
Low
16%
423/4
14%
61
23 y4
111%
141/e
333?
113'
Prior preferred
$3.5o convertible preferred
United Corporation
(The)
$3 preferred
United
33%
48%
10
Fastener
66%
142
Co
United-Carr
20%
115
nStf* convertible preferred
United
Carbon
46%
10%
August
High
$ per Share
643/4
21%
56
16%
162
Inc—
109%
9%
Low
17
65
112%
preferredZ.ZZZZZZZlOO
Biscuit of America
«
106
54%
105 y4
«
jconvertible preferred
United
233/4
109%
l4o%
5
22y8
45
_ioo
Corp
23%
107
__100
>
58
X22
45%
VJt
ZZZZZZZ*
Z_25
California
50
24%
111%
gg
"0
series
53
213/4
11%
40%
106%
*
series
56%
21%
9%
110%
40%
July
High
50
49
493/;
3934
«
Corp
of
\\Va
A^v
Low
$ per Share
11%
112
105%
*
Preferred $3.70
Preferred $3.50
2»
June
High
58%
42%
28
ZZZZs
P?PnfPrrprf 2 £ series Preferred—♦
Pieferred $4.50 Mo, $5
Oil Co
-3$,
5°
Co
Union Asbestos &
Rubber Co
Union Bag &
Paper Corp
Union Carbide & Carbon
Union
as%
_Iq0
CoZh'cZ
prcterred
°acn
.
*
If 2nd preferred
Twin"
Low
$ per Share
9%
56%
Vl'v, 1\l'/'
"*
,
4 May
./High
$ per Share
108%
57
~o
.
Low
51V*
19%
21%
<"
April
High
mm
tSwTTmil.'" Wlm A,rr"ilJS"in;:S
& Williams Steel
i
10%
54
=0'/.
Timken-Detrol.
„f* "%
-J
March
17%
23
*;
16%
20
17 y8
18%
1
Thursday, January 23, 1947
,THE COMMERCIAL & FINANCIAL CHRONICLE
512
NEW YORK STOCK RECORD
;
STOCKS
•
Low
High i-
Low
:
.
February
January
.
Waukesha
Co
Motor
convex
preferred™
tible
;
4Ms%
Co
pfd
Penn
Virginia Pulp & Paper Co_
4%%\ series—
4%
2nd
Western
Pacific
Preferred
23 Mi
273/4
26
28 Ma
20
26
24
26
25
27
31%
33%
27
31
26
28 Mi
25%
27%
23%
25%
25 Ma
29Ma
24 Mi
27
20
X25
20
22 Ms
20
23
20 Mi
21 Ma
24
28 Ma
33%
36
44
12%
;?*
36 Ma
39
87%
85%
43 Ma
<
45
Mi
41 Mi
45 Mi
14 Ma
15%
13 Ma
153/s
13
38 Ma
37
I:
39%
35
873/4
88 Mb
88 Ma
88 Ma
88 3/a
88 3/i
41
35 Ma
41
34 Mi
39%
36
.♦
115 Ma
H734
1153/a
117%
119 Mi
X118 :; 120 Ma
118 Ma
121%
118
110 Ma
lll3/4
xllOMi
113
111
114%
112
118Ms
118
119%
1153/4
119
117 Mi
115
1193/4
44
35 Mi
35
27
29
32
27 Mi
..
51 A
47
113
115
25 Ma
31
13 Ms
60
62%
57
62
10 %
V
23 Mi
56
46%
82 Ma
9
55 Mi
& Lake Erie
Ry Co
$5
convertible
prior
1
$4.25
.
112
110
1133/4
114
115 Ma
114
.113 Ma
37
47
40%.:
49
1113/!
113%
111 Mi
24
19%
23%
14%
21%
12 Mi
16%
9%
83
73%
82%
70
83
60 Ma
71
61
68 Ma
57%
-
113%
8 Ma
28
10 Ma
8
23 Mi
19
22%
113 Ma
114
8Mb
14
143/4
41 Mi
113
:
7Mi
10%
61M2
74%
>15%;
70
G
63/|
112
114
112%
115
5%
17 Ma
5 Ma
9%
21%
11 Ma
•
119 Ma
36%
41
323/|
42 Ma
38
43%
115%
73/4
6 Mi
7Ma;
16
15
18
15
18
29 Mi
37
31
37%
33 Ma
39%
54
51
553/4
50 3/t
56%
52 •''
41 Mi
48 Mi
27
42
97
98
101
973/4
99%
95
99 Ma
94
98 Ma
9OM4
98
75
90
79
74 Ma
80 Mi
73
933/8
71
96 Ma
36 %
47
34 Ma
39
355/e
39%
36%
41 Mi
33 Mi
373/4
30%
34Ms
20%
303/a
18 Ms
22 Mi
183/8
22%
19
54 Mi
223/4
22
223/4
23 Mi
23 Mi
23 Ma
25
21%
21 Ma
11 Ml
113/4
-11%
40%
30 Ma
37%
27%
32%
26 Ma
31
27
11 Ma
32 Ma
13
24
293/4
39%
22%
27 Ma
21 Ms
25 Ma
35
37%
34% X36
32 Mi
35%
40%
33 Ms
395/a
32%
343/4
34
38 Ma
35
39%
33%
39 3/a
32 Ma
35 Mi
33
353/4
45
40
43
37
41%
36%
39
32%
35Ms
30 Ma
34 Ma
28 Ms
333/4
24 Ma
44
40
42
38
42 Ma
35 Mi
63 Mi
55
393%
45
Ma
80
233/0
-13
27%
263/|
35
•:
34 Mi
22
373/8
91
40 3/i
363/4
35
X33
433/4
40
42 Mi
40
443/4
X47
95
53
.
^
53
46 Ml
41 Mi
48%
40
43%
403/4
44 Mi
39
55
42
373/8
40
36%
41%
363/4
40 Mi
40
44%
42 Mi
45 Mi
106%
104 Ma
106%
42
39
■-{
1033A
106
107%
104
105%
62 Ma
53%
104 Ms
105
xl02
107 Mi
33
32
34%
64
98
100
103 Ms
100
103 Mi
102 Mi
37 Mi
48
37%
43 Mi
36 Ma
93 Mi
105
94
993/4
90 Ma
36
30
34
30
103%
32
27 M»
31 Ma
28%
32
32
36 Ma
34%
44
38%
41%
37
42%
36%
39
38
413/4
363/4
413/4
36 Ma
41%
33%
30 Mi
353/4
25 Ms
31%
22%
27 Mi
44
35 Ms
40
37 Ma
135/8
15%
143/4
143/4
18%
12 Mi
113/s
15 Ma
21Ms
17
19 Ms
23M8
153/4
15 Ms
18%
*
88
95
85
93
84
85
85
X33%
1043/s
100
35
33%
35
xlOl
20Ma
18 Mi
22%
88 Ma
x90
35 Ma
34
35
34
15%
97
92
99
35 Mi
35%
163/4
36
35
_5
10%
12 Ma
10
123/8
9%
11 Mi
11
123/a
11
213/s
263/4
20
25 Ms
193/a
233/4
22 Ma
26 Mi
22
24%
36
9 Ms
33%
8
22
Mi
10 Mi
6%
8%
18%
10 Ma
153/4
—
3/«
100
.
31%
34
26 Ma
23 Ms
26%
14%
123/a
16 Mi
85
86
86
30
31
30;
31%
5 Ma
7
5Mi
12 Mi
9Ms
6"
7 Ms
6 Ms
__
"
'
"
lOMs
9 Mi
12 Ms
9
—
—
92
313/i
11 Mi
33%
15
11
17%
A
81 Ms
35
35%
—
12 Ms
20
85
35
100% 102
41 %
38 Mi
:
213/4
85
35
105
35
43;'
102
y
84
81 Ms
100
243/8
9 Ms
12%
1
29
38 Ma
T
37
39 Mi
34%
100
99
102 Ml
56 Ma
104 Ma
29 Ms
100%
106 %
47
102
105
102
103 Ma
33
29 Mo
101
99
47
64
64
103 3/8
103 Mi
60'/a
51
105%
99
105%
63
70%
104 Ma
513/|
6OM1
43
29 Ma
40%
104 Ml
52
X48
503/4
43
60 Ma
.
38
44%
102 S/8
106
103 Ma
48 Ma
53
50
106 >
65
104%
106
49 Ms
39%
105
70
70
70%
102 Ma
503/4
45 Mi
583/4
106 Mi
70
703/4
102 Ma
101
106
46
104
106 Ma
70%
70%
70
105 Ma
57 Mi
45
105 y4
107 Ma
„
623/4
28 %
20
—
1/64
♦
Co 6%
pfd
19 7/s
16 Mi
993/8
100%
99M8
100 Ma
993/4
100 Ma
19 Mt
21 M»
19 Mi
213/4
Machine
&
18 Ma
142
io
36 Ma
163/4
100 Ma
99 Ma
99 Ma
lOOMi
19
20 Ma
173/4
123/a
15
12%
100%
97
99
96
97
96%
98
16%
18%
15%
17%
16
18%
15 Ma
16%
43
21%
41
47%
37
42
39%
45 Ma
58
49%
55 Mi
433/4
52 Mi
46 Mi
48
35%
43%
42 Ms
46
45
52
47 Mi
50
53
58 Ms
57 Ma
6IM4
58 Ma
62%
53%
61%
53
60 Ma
69 Mi
65
50
61
51 Mi
60 Ma
59 Mi
94
93
94%
95
98 Ma
98
100
95
98
93
97
95 Mi
103
95
106
44
51%
39%
433/i
50%
40%
44 Mi"
59%
50
56 Ma
52%
65 Mi
49%
57
65%
603/i
69%
62 Ma
74
47
65 Ms
96%
96%
84 Ma.
95
85
89
87
54%
96 Ma
87
98
95
86
94
x66
90
94
93
95
95
98 Mi
'
98%
96 Mi
155
155
160
493/8
40
91 Ma
193/8
160
57%
91
series______100
13
95 Ma
19
45
57 Mi
preferred 4 Ms %
16 Mi
101
18 Me
18Ms
20Ms
Corp
(Del) common
12 M8
993/4
160
155
50 s/8
5|
15 Mi
15
21
101
17Mi
100
lOOMa
19 Mi
19 Ms
18 Ms
20
193/i
100
142
,
•h
17 Mi
19 Ma
34
40 Ms
503/4
183/4
17
175/8
10
Co
Pump
16%
100
_
(P W)
19 3/8
10
_
16s/s
*>
_
Woodward Iron Co
Prior
116
110
115
l
____
Wisconsin E'ec Power
-
119 Ma
1133/4
1133/4
98 Ms
Wilson-Jones Co
...
119Mb
109 Ma
117%
1
Inc
Worthington
116Mi
113%
115
*
preferred
Woolworth
119
106
117 Ma
105
___.
rights
Co
1153/4
117%
45%
Preferred rights&
121%
113 Mb
116 MI
20
preferred
Common
Wilson
35 V
112%-
111
112%
111
112
110
92 Ms
72
Willys-Overland Motors Inc—.___
.ji
116 Mi
48
106
preferred
(The SS)__
Co
108
41 Mi
55%
70 Ms
____.
Prior
87%
293/4
53 Ms
105 Ms
Corp___
$4 convertible preferred
Wilcox Oil
86 Ma
343/4
93%
100
White Sewing Machine
,
87
303/s
87%
_•
White Dental Mfg Co
White Motor Co__
86 Ma
353/4
25
100
•
preferred
86M4
29M4
47
*
convertible
86%
37 Mi
50
*
Weston Electric Instrument Corp
12.50
Westvaco Chlorine Products Corp
_*
5Msir/o
87 Ma
32%
28
loo
Wheeling Steel Corp
85 Ma
29
20 Ms
'
93/4,' 12%
39 5/s
i
42 Mi
26
50 3/a
36
26%
10;
273/4
23 Ml
36 Ma
9%
31Ma
112%
74%
Ma
11%'
Ml
27
24 Mi
25%
90
81
10 Mi
9 Ma
10%
30
/
69
70
9 Mi
12 Ma
9%
33 Ma
13 Mi
41 Mi
53 Mi
3%
57
36
9%
31 Ma
114%
-
22%
27
24%
31%
•113
116
117
11 Mi
343/4
9 Ma
117%
A 114% xll3M»
46 Ma
51
116 Mi
114
114 Ma
114
,
445/a-.
44%
x36Ma
115
115
•
373/s
115%
117 Ma
121%
1143/1
115
333/4
27
119
116 Mi
117 Mi
X115
116 Mi
113 Ma
36%
29%
38%
11 Mi
M5
117%
1123/4
122 Ma
26
119
120 Mi
115
v
114
26
89 Ma
87 Ms
44 MI
451,
203/a
39
15%
-
88
:
29%
28
42 Mi
13
40
39Ms
110 Ma
118
14%
43%
•
39
40 Mi
42 5/a
38 3/a
.
•
31
41%
36 Mi
42.3/i
40
42 Mi
112 Ms
114
Westinghouse Air Brake Co (The)
*
Westinghouse Electric
Corp
12.50
T/o
1st partic preferred
_____12.50
3Ma % cum pfd series A
100
Wheeling
24Ms
86 1 ;
87%
36 Ma
41
112% 115
Telegraph Co cl A____*
preferred
323/a'
28Mi
vx32%
163/4
31%
$3.75
35
375/s>
41%'
36%
115
117%
100
;
333/4
453/4
13%;
87 Ma
40%
112
Co__
28
32 Ma
Ms;'
42
-
34%
41 Mi
87Ma
-l'
36
10
;•?,
23
14%
100
Co
&'■'
29 Mi
33 Ma
285/s
41
0
preferred
RR
29%
24 Mi
25 Mi
16%
1
series A
Western Union
25
29 Ma
31 Ma
47 Mi
110
Supply Co
non-cum
333/i
25
32 5/a
13 »/s-
115Ms 118 ""
Air Lines Inc___
Maryland Ry
29 Ms
27%'"30%
40
Rights AA----™-,.™—3%
Auto
39 Mi
* * 29Ma1
31 Mi
16 Ma
100
Preferred
Western
33
27
35
47Ms
100
West
West
Western
38 Ma
30 r
14
100
Power
41
,ir>451™
22
43M4
333/s
__
87
$ per Share
20%
J,
100
preferred
Western
38%
*
class A
Electric Co
Penn
v,7% preferred—
6%
34
1
if West Indies Sugar Corp__
West
32 Ms
33 Ms
High
Low
High
$ per Share
40
/;
42 Ms
*
*
Inc
Oil & Snowdrift Co
Wesson
$4
i
Low
High
$ per Share
35 Mi
33 Ma
5
1
Inc—
Tobacco
Webster
20
333/4
__
December
November
October
Low
Low
High
S per Share
$ per Share
213/4
35
22 Ma
5
Knitting Mills
Wayne Pump Co____
Wayne
y
46%
195/s
313/4"
343/4
41
$ per
$ per Share
$ per Share
Low
High
Low
September "
High
$ per Share
August
July
v
High
Share
Low
High
42
38 Ma
29
~_5
—
Low
Low
$ per Share
50 X
2VA
45 ;
18%
5
*
June
April
High
-
...
High
30
Warren Foundry & Pipe Corp,
Washington Gas Light Co
Low
High
$ per Share
^ Pe]f Share
Warren Petroleum Corp—
March—
•
99
100 Ma
103
993/i
102 M2
87 Ma
93
97 Ma
91 Ma
72
88%
82
84
88 Ma
75 Mi
87%
91
93
83
84
84
87
85
86
96
94%
83 Ma
92 Ma
79
683/4
69
76
77%
*
5
82 Ma
74
64 Mi
76
77 Ma
70
82
74%
65
77
77
68 Ma
78%
x793/4
59 Ma
82
82 Ms
75
79%
20 Ma
38
28
34
28%
34%
333/4
44M'a
413/4
46Ms
45%
46
23 Ma
22
13 Ma
17%
15%
19
14 Mi
13 Mi
253/s
19
19
20%
14
42
39
45 Ma
56 Ms
61 Mi
61 Ma
36
53
55
40
48
613/a
33
48 Ma
573/4
47
49 Mi
423/a
37
49 Ms
43 Ms
543/8
43 Mi
46 Mi
25
17
22
27M4
21 Ms
24 Ma
25 Ma
223/4
253/4
25%
16 Mi
14 Ma
21
13 Mi
27 Mi
17 Mi
22 Mi
135/s
22 Ma
203/i
27 Mi
223/4
15
21 Ma
20
21
22%
17%
3 4Mb
32
20
29 Ms
273/4
16 Ma
31 Ma
33Ms
20'/i
303/4
28%
15%
27 Ma
23%
33%
29 Ms
17
29%
29 Mi
(L A) Spring & Wire Corp—28
58 Mi
68 Ms
59
68
60 Ma
68%
74%
61%
69 Mi
57 Ma
73
62 Ms
823/s
Prior preferred 4Ma%
series_100
conv
Wright Aeronautical Corp
Wrigley (Wm) Jr Co (Del)
Worsted
Wyandotte
Yale &
Towne
Co
-
_
Manufacturing Co
If York Corp__
Young
Youngstown Sheet &
Youngstown
102 Mi
103
■,
17%
*
*
65
67 Ma
74 Mi
67
83
71%
26 Ms
15
23 Ma
35 Ma
37%
36%
32 Ma
37
19
37
273/4
23
3 4 Ms
32 Ma
19 Ma
41 Ms
35 Ma
28%
35 Ms
21 Ma
39
42%
33%
___*
273/4
393/4
29%
19%
273/4
27 Mi
16
25
253/4 x29 Ma
23
303/a
26 Ms
18
25 Ms
23
25
83
283/4
70 Mi
13 M4
11%
13%
113/4
135/8
12%
143/4
13 Mi
14%
14 Mi
11 Ma
13%
10%
10%
10%
_1
12%
9 Mi
reported
in
Tube Co
Steel Door_
Zonite Products Corp_—
par
100%
103
35Ma
73%
31
Zenith Rfdio Co.:——
♦No
100 Ma
^Company
value.
receivership,
delivery
a Deferred
rCash sale,
sale.
72 Mi
■-* 83Ma
x
Ex-dividend,
9
12%
15%
19
25 Ma
19%
21%
10%.
X9
10 Ms
19
Ma
9
10 Mi
•
Ex-rights.
y
NEW YORK BOND RECORD
February
High
January ;>
'
BONDS
•
New
York
.*
/
y*-
Low
■
Low
High
High
<
April 1
Low
High
May
Low High
3s corporate
Stock-—..;..,
:r \
"•X*',
'/
1980
120% 123%
1227/s 125
124Ms 1257/s
122Ms 1253/i
1203/i 123Mi
121Ms 1223/8
118Mi 119
118Mi 1213/4
79
112% 114 Ms
113% 115% H3Ms 1155/«
118%
114
<■
,
10 i
Foreign Government Securities
\
High
Low
High
City Bonds
Transit Unification Issues—
/
December
November
Low
High
Low
Low
Low
Low
October
September
High
August
High
July
High
June
Low High
March
Low
/(.Agricultural Mortgage Bank—
81
81
85 /
85
82
-
85
85
75
79
85
77
79 Mi
78%
18%
Guaranteed sinking
77
79 Mi
79 Mi
79 Mi
79 Mi
79 Mi
97 Ms
lOOMa
973/,
1003/4
100%
1043/4
101
104%
103 Mi
1033/i
103 Mi
104 M2
103 Ma
103%
21 Mi
36%
38
37%
373/4
37 Mi
21 Ms
363/4
37 Mi
21 Ma
36 Mi
373/4
28 Ms
363/4
37 Mi
23
36 Mi
373/4
36 3/s
36%
37
34
36 Mi
21 Ma
37%
38
37 Mi
38
37%
22
36 Mi
37
213/4
36 Mi
37 Mi
28
37
37%
22%
36 Ma
37 Ms
363/a
37
37
34%
36 Mi
27 Ms
36 Ma
363/4
36%
363/8
36 Mi
37%
37 Ms
375/8
373/4
23
36 %
373/4
36%
36 Mi
37%
35
22
23 Ms
373/4
21 Ms
37 Mi
37%
37%
37%
36%
213/s
36 3/a
373/4
25 %
36 Mi
37 Mi
22
363/4
373/4
36'
36 Mi
36%
34
36 3/i
37%
36 Mi
31
32Mb
31 Ma
22
18%
31%
31
18
31%
28
33
33 Mi
30
33
31%
31%
18
183/*,
18
18 Ma
sinking fund 6s_____1947
fund 6s
1948
Akershus (King of Norway) 4s____1968
Antioquia (Dept) coll 7s series A—1945
External
s
1Q4S
f 7s series B__
1945
External s f 7s series
f
External
s
External
7s
7s series
1945
D
'
1st series————1957
External sec s f 7s 2nd series-__1957
External
sec
3rd series
f 7s
s
1957
1958
Argentine (National Government)—
A.. External sinking fund 4 %Si«i.
1948
Antwerp
(City)
external 5s
Ai External sinking fund 4MaS__
External sinking
fund 4s
/ External sinking
Australia 5s
fund 4s
External 5s of 1927—:
1971
Feb 1972
Apr 1972
July 151955
..June 1957
4M2S of 1928
31
30%
31%
31%
—
„
31%
31
31
115
120
101 Ma
103
1033/4
31%
102
101
'
101
113
116%
104
30%
30%
32
30%
31%
31%
104 Ma
32
103
1003/4
103 Ma
102
317/s
101
101
103 Mi
102 Mi
102 Ma
103%
100 Mi
102 M2
100
104
100 Mi
103 Mi
100
100 3^
101 Mi
103 Ma
103
104
104 Ma
—-
104
97
99 Ma
97
98
100
lOOMi
99%
100
1003/4
9915
lOOMs
110
108 Ms
109%
109
1033/i
105 Mi
103 Ma
105%
103 Ma
105 Ms
1033/4
98%
97
101
103 Ma
102 Mi
107
107
109
105 Ma
106 Ms
105
111 Ms
111 Ms
113%
external 8s_»«j____194l
64%
'
External s t 6%s of 1926_«-,»,««1957
68"
;
;-r
1013/4
km)3/!
101 Ma
100
1013/s
993/4
lOOMs
99 M2
110 Ma
112%
109 %
112 Ms
109%
110%
1087/s
HOMs
109 Ma
110%
1093/4
1063/4
1043/4
106 Mi
104 V2
1053/4
103 Ms
106%
104%
1063/4
103'/a
104 Mi
105
105
1023/4
1023/4
1003/4
102 3/8
1003/4
1023/e
lOOMi
102
lOlMs
102 Ma
101 S/«
101
110%
1033/i
105
111
115
102
102%
102
102%
102 Mi
102%
108 Ma
109
109%
109
1t0 u
110
106 Ma
108 Ma
108 Ma
109%
109%
1143/4
1143/4
115
115;
72 Ms
80
71
;>
-
;;
63%
64%
65
65
74Mi
72
66
70
71%
78%
75
73
%:
83%
78%
82%
116 Ma
76%
/-!
81 Mi
60
116%
(interest reduced to 3.375%) 1979
External
s
f 6M2S
1957
of 1927_
pursuant to Plan A
(Interest reduced to 3.375%) 1979
58
59%
59
62%
66
;
60
63
62 Ma
72 Mi
72.fef
75 Ma'
69
78
78%
78 Ma
83%.
81 Mi
/'
:
Cent
•
t'
V
<
Ry 30-yeat 7s__L
.M..M1952
Stamped pursuant to Plan A ,
(interest reduced to 3.5%)—1978
5% -funding bonds of .1931
Stamped pursuant to Plan A
Irit reduced to 3.75%——1970
.
3%s -extl dollar-bonds.
of 1944 (Plan B)
58
58
58
59%
59
63
64
72 Mi
71
65
65
65 Mi
65%
69 Ms
71
72%
79
■
1—-
62 Mi
>65
No.
2
62 Mi
67
Series
No.
623/4
67
Series
No.
62%
66 3%
Series
No.
62%
65
.3—
4____v._________.____
No.
7-
Series
No.
71 ""
66-
67
64%
61%
62
59
64
58
64
71%
74
73
83
72
81%
66
65
71
65;
70 Mi
68
71
59
65Ma
71%
73
72
76%
74
78
63
65 Mi
m:- 71
53
63
66
67
65
69
63
65
58
62
58 Mi
58%
63
64
72 Mi
71
-53
53:
e52
52
No.
74
.
63 Ma
64%
66
633/4
61%
633/4
633/4
63%
61 Mi
63 Ma
64 >'
66
64
62%
63%
65 Mi
66
65 £-■{;
79
so;r
1
66
64 Mi
66
r%.
<
64%
:I
65 Mi
68
63
79 Ms
63
'
,
71
;
70%
76
.
63 Mi
65%
61 Ms
65
69
73
73
62 Ms
61
—
5
73
64 Ms
64%
62
61 Ma
72 Ms
70 Ms
*
63%
62 Ma
68
60
65
52".
..
54
61
.-
55
-
-
.
62%
58
65 Mi
60
65
65
68%
66
68
64 Ma
66%
673/4
6OM4
61 Ma
59
63 Mi
58
65%
60
643/4
69
64
•65%
61"
60
76
:
58
..
'
f
.
,f
X\
78
78
79M«
79%
79 Ms
79%
78 Mi
77
78
78
V
•»
78
633/4
65/.
63 3/4
66
63%
64 Ma
64
75 Ma
76
77
h
61
63 Ma
60 Ma
62
60%
61
64?
65 Ma
Series
No; 13_^.,_4-_—
61
63
Series
No;
14______
Series
No.
15_
Series
No. 16—
60 Ma
63
Series
No.
61 Mi
613%
Series
No.
18—
63
Series
No.
19.
63
81/
81
78//
64 Ma
64s/a
63
64%
/ .64'-Vr
65.
:
f
■
/
66 Mi
69
69%
85
85
762^
•
'
82
59
613/4
56
56:?"
56%
57 Ms
57%
62
60
••
64%
65 :
58 Ma
623/4
55%-
60 Ms
55
57%
57 Ms
56%
56
643/4
58 Ma
61%
57 Ma-
59
57 Ms
623/4
B5.
57%
81
64%
55%
63
-
;
643/a
60
61%
55%
55%
623/4.
63 Ma
633/4
64%.
643/a
63
65 Ma
64
65 Mi
62 Ma
64%
623/8
61%
63%
65 Mi
64%
643/8
63
64%
63
60%
61
64
643/4
64%
65
61 Mi
613/4
60 Ma
61'
62%
64%
64 Ma
64%
60 Ma
60 Ma
61
•62%: -'
633/4
'•'63/; A:
64%
64%
63%
633/4
__V;:
63.
>
82
58
62%
63 Ma
63%
-
'78 Ma
78 Ma
58
60%
63
64 ®/s
.
;
59
61%"
•'
80
80
64'3/4
61
/
81
82
82 "
- ^
-
643/4
62:
•
81
82
82 i-
67.....
'
63%
62
-J-
t82
e82 l
84
-
65%
63%
;/;/653/a
643/4
60 Va
-
76
■
66
.
63 Ma
65
58%
60
65%
63
65%'
ivy
78
63 Mi
82
60%
'59
61%
/
;''-k ^
'
.
-
63 Mi
•:60%.
1
t82
82
••
..
64
61%
60 Ma
'
82
bir
58
60
58
66%
63
,65
'
59 Ma
6OM1
62
63%
-
60 Ma
82
63 Mi
1
61 Ma
61%
58 Ma
60 Mi
Ma
76
82
.
62'/a
•
-•
68 Ml
68
•
75
81
A-
673/4
80
66
:
81
80%
80 Ms
64 M2
Series. • No./12___^__j___i__.
•
•"
•
80 Mi
78%
,
79%
64,
•
;
" '
81
Ma
65 Ma
62 Mi
519.
653/4
80
78
79 Ma
60%
1—
64 Ma:
72 fry 743/4 *
80'
•mJm
'
613/4
-
65
66
'
'
60 Ma
:
63%
—V
80
73
70%
65%
78
78.
'
71
63%
79
page
•'
65 Mi
V.
64
r
:-
60%
No. H_^
footnotes see
;
63 Ma
66
64 Mi
66
80
77%
Series/ No.. 10_
For
82
Ms.
75%
65
66
~
61
'
80
633/4
63
61 Ma
•
61%
61 Mi
61%
'
63%
63%
77
Series
73
77%;
53
70
,
*
A
76
76 ..
77
61%
•'
8
Series
72 Mi
61
'62I3ZI-IZ—
Series
74 Mi'
'
60%
84
„v 1'.
No.
No.
65
58
Series
Series
65
,
: -
Series
.
62%
118
116%
•
f
58
58
61
v
rll4Mirll4Mi
; 106% 109 ;
•;. 112
.
114Ma
62
67%
82
-
73
81
59
62
61
-
110
113
102%
100%
106"
71-
63 Ma
•
103%: 105%
60
70
£w
105
110
72
84 /
75
81
•
101 Mi. 102
106 Ms
103 Ma
70
85
73 4
68
101 Mi
104
73%
76 Ms
59%
66
63%
Stamped
100 7/a
108
115
70
Stamped pursuant to Plan A / v
'
Ma/'
101 Mi
111
118
in
109 Ml
103%^'103% 103%
tojwt, 100% 1013/4
70
70
85;
80%
9915
100
104
1113/|
111
116 Ma
l—' 'v -1!
82
■
A
60%
62%
62%
•
115Mi
76
-A-Ji
111 Ms
1103/8
iio5/8
,
ftfilMirtz. 'f ■22
lOOMa
102
110%
102%
;
102 Ms
69
mm
109 3/s
'
65%
65
Stamped pursuant to Plan A \
(interest reduced to 3.5%)__1978
70
~
100
1003/4
1143/4
1053/4
'
i
18
101 Ma
99 Mi
<
U J
99 34
101-
107 Ms
103'Ma
17 Ma
100
100%
1003/b
98
108 Ma
99 Ms
18
rfi'l" ' Or
1093/4
97%
109 Mi
98
19
183/s
18
-
101%
100%
102 %
100
103
lOOMa
98
97%
96 Mi
96%
106 Ma
25
" 25
23 Ms
21 Ms
23 Ms
—
lOOMi
99%
,r,78't
1033/i
'
____195B
(Kingdom of) extl 6M2S
1949
External sinking fund 6s_
I
1955
External sinking fund 7s_^...
1955
Brazil (U S of)
--
78 "
79
•'
103
103 7/s
103 M2
101 Ms
10-year 3%s
Belgium
79
•
104 Ms
32
100 Ms
103
131 Mi
101%
102 Mi
101
32%
101'%'
102 Ma
120
101 Mi
115
xloo
33
313/4
32 Ml
120
113
109
32
313/4
33
32
32
82
82
82
82
31%
31
31%
—
1956
External gold
.
78
V
Guaranteed
64%
i-'"-fj
65
63%
63%
63%
__
64 Mi
64%/
63 Ma
63 Mi
64
63
-
64
,
65
64%
'64%
59
-
62%
§7%
55%
55%
"6756 Mi
59 Ma
64 Ma
59
593/4
60
59 Ma
593/4
63 s%
59
56%
-
V./".:.
63
59
56%
-
-
63
56% ; 59
•
.
f
,
59 Ms
64 Ma
593/4
593/4
'•
-*.«+ •>
r
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4562
Volume" 165
\,:
t
> iwi #■
'-A..'' ":.'
-
*•-
NEW YORK BOND RECORD
December
Low
High
561/4'
6I1/2
57 '/a
57 V8
61
631/4
57
64 »/3
641/2
641/2
59%
59%
561/4
59%
571/2
64,;-;
59%
641/2
64%
64%
64%
64%.
100%
98 %
101%
IOIV4
97%
12
143/4
1021%
100%
■
103 %
103 %
19 i
40
101%- 103
100
102
102
1033/4
102
1033/4
1003/a
100%
103%
106%
105%
107%
103%
104%
1037/s
105
105-
107%
103%
1043/4
104%
107%
103% 104%
103% 105
99%
99%
—
102%
101%
99%
For footnotes
see
page
519,
99%
99%
303/s
.
97 A> >;97
103 %< 1103 %
...
9-. /r
29
10
31
40
103
102% 102%
121/4
30
393/8
105
101 --102%
997/e
393/8
1003/4
12
101%
102
100
13%
11M
101%
1023/4
12%
101%
101%
10%- 12
99y»
101%
—
102%
102
102
997/0 100
100%
993/4
99
:
t
—
99%
100 % 101 %
103
104%, 106
1104
105 Vs 106
103.
99% 101 •>.. 101
100
100
101%
102
99%
101%
__
104% 106
100
106
406%
v,
106%
101
102
i
n
,
99% 1003/8
V
-.
103
105%
100% 105
102102%
ioiy3 103
100% 100%
99% 100%
•'n'liii-i—
April
High
March
Grande
Rio
(State)—,
Sul
do
.—1946
External 8s loan of 1921
i
■;
6s—1968
Stamped pursuant to rdan A
(interest deduced to 2%)—2012
External 7s loan of 1926———1966
Stamped pursuant to Plan A
sinking
,
fund gold
2.25%
Int reduced to
municipal loan
7s
Stamped
pursuant to Plan A
to 2.25 %
-—2004
Stamped pursuant to Plan A
(interest reduced to 2.5%)—1999
—1950
—
,
Stamped pursuant to Plan A
(interest reduced to 2.5%)—1999
External water loan 7s
1956
Stamped pursuant to Plan A
(interest reduced to 2.25%—2004
dollar loan 6s
1968
External
Stamped pursuant to Plan A
(interest reduced to 2%)—2012
Secured sinking fund 7s
1940
pursuant to Plan A
(interest reduced to 3.50 % )-1978
Serbs, Croats & Slovenes—
•
——1962
B_.—1962
Silesia (Province) external 7s
1958
4%s assented
.1958
Sydney (City) sinking fund 5%s—1955
secured
45
40
40
41
45
42%
45
8s_
External secured 7s series
42
96
97
95%
—
--
—
External
8s
—
96%
48
53
43
98%
51%
54
48
393/4
41
41
43
70
71
--
59
54%
64
63
65
55
69
—
70%
71
68%
68%
58
—
69
70
67
t61%
61%
,.
39%
36
36
33%
33%
36
36
30.
36%
38
34%
35
35
40
36
38%
35%
.
39
37
37
32
32
30%
O
OI 1
37
37:
45
36
36
36
38%
60
64
59
58
60
41
39
3 6'/a
37
70
66
66
67
67
36
67
(
67%
69%
69%
65
65
66%
58
58
57
57
55
55
55
56
56
56%
56%
56
55
50%
56
58
61
54
54
54
54%
71%
76
76
78
79
85
82
82%
82%
82%
82%
823/4
64
64
65%
67
67%
69
69
76
72%
76
72%
74
75%
75%
75%
77
12%
K3/4
123/4
12
123/4
9%
12
8%
9%
11%
123/a
8
10
8'A
9
18
18
16
16
16
16
19%
21
14%
19%
133/a
16%
15%
16%
14
16
12%
14%
18
203/4
16
38%
13
15
153/a
16
14
15%
12%
13%
23
23
18
19
193/4
—
—
GO
12%
—
—-*
70
83A
1979
conversion
18
102
102
103
103%
120
103%
103
104
102
103'A
18%
1033/4
16%
102%
103%
16
17
9%
102 %
103%
1043/a
104
98%
120
external 7s—
89 3/a
88%
90
88%
93%
88
89%
89%
91
95%
96
89%
88 %
91%
91%
873/8
89%
86
92%
95
83
83
.1958
18
21%
20
203/4
19
11
io
16
101'A
102
125
17%
16
16%
14
16%
93%
93%
92
90
—
95%
92%
95
•
—
,
—
123
91%
93
93%
99%
98
99%
90
93
99'A
99
99
92
89%
993/4
97
97
96%
99%
90%
96
93%
993/4
98
99%
84
94
94
92
94
93%
84
86%
91
95
93%
—
15
100
102
132
125
123
90
91%
14
15%
11%
103 -A
101%
102
123
e96
21
15'A
.
...1958
and
92%
90%
86 3A
87
.—1984
Railroad
11
9
16
— —
11
123
.-.1978
(City)
65
9%
132
173/4
...1978
Warsaw
63
10%
83/4
50%
44
73%
—
70
74%
71
•
—
__
—
—
—
sinking
External
52%
44
54%
«...
55
52%
55
72%
20
60
56
56
54
25
63
55
58
'
56
71%
19
30%
63
67
61%
54
25
30%
55
76
25
37
68
54
24%
17%
37
60
67
74%
<J
37
•
.
54
—
36
36
—
T-<
71
70
56
40
39
45
38%
«*«*
—
58
1
—
—
71
—-r
h-1
1
«...
-
71 v'
64
59
44
ft
..
59
...
37%
37
30
36
70
48
40
99
--
—
.38%
693/4
61%
66
64%
t61 %
60
—
—
♦
45
69%
65
69
70
60
45
69%
37%
65
60
45
393A
37%
57
57
34
35
36
987/a 100
99
53
40
42%
32%
37%
36
37
38%
100
40
42%
38
32%
37
38
43
43
41
—
1947
i
fund 6s
1960
External sinking fund 6s May 1.1964
33A-4-4%s ($ bonds of 1937)
...1979
External readjustment
External
94%
993A
95%
97
96%
97%
95%
90%
94
96%
97%
100
97%
94
90
97
93
96%
98
99'A
98
99%
99%
100
100
85%
91
85
86
87'/a
88
88
19
•
100
20
19%
19%
12
13
11%
13
<»
«...
102 >
89
—
18
16
7%
16
15
17
16
8%
Industrial Companies
Power & Paper—
1953
stamped
5s
96%
48
—
37
—
42
95%
96%.
46%
.
37%
40
40%
High
35%
37 %
37
44%
December
Low
35
40
37
35%
39%
40
44%
47
High
—.
42%
34 7A
41
Low
High
(Republic of)—
Uruguay
Abitibi
40
45%
Low
High
42%
42
37
44
—
Stamped
External
42%
:/.
2.375%—-—2001
6V2S__1957
Stamped pursuant to Plan A
Int reduced to 2%
2012
San Paulo
(State) 8s
1936
8s
43
Low
November
October
September
August
High
Low
37%
43
40%
98
97
External sec sinking fund
External
40
,
High
45
46%
39%
39
reduced to
Int
45
44
36
Low
42
50
36%
36%
—
—
July
June
Low High
52
40
40
40%
40
Int reduced
1964
1952
s
High ;
49%
1967
external 4s
Paulo (City) 8s_.
Stamped pursuant to Plan A
May
Low
45
48%
—
—
Santa Fe
San
Low
High
Low
45
45
45
47
47
Stamped pursuant to Plan A
(interest reduced to 2.8%)—J909
External
High
Low
High
Low
'
BONDS
cThursday. Jarmacy 23/1947
FINANCIAL: CHRONICLE
THE COMMERCIAL &
coll trust gold 4s—1948
1907
1947
10-year debenture 4%s stamped.1946
Ala Gt South 1st m 3 Vis ser A—1967
Alabama Power 3 tea—
Albany Perf Wrap Paper Co 6S——1948
6s with warrants assented
1948
Adams Express
Collateral trust 4s of
-1975
Albany & Susq 1st 4%s_
General mortgage gtd 3%s
1946
West 1st gold guar 4s—1998
Mfg 2S debs
1956
Amer & Foreign Power deb 5s
2030
American Telephone & TelegraphConvertible debentures 3s
1956
Allegh &
106%
J™
103
101%
101%
1980
2%s debentures
1975
2%s debentures
1986
2%s convertible debs w i
1961
American Tobacco debentures 3s—1962
3s debentures „:
1969
Anglo-Chilean Nitrate debentures—1967
Ann Arbor 1st mtge 4s
July 1995
Armour & Co (Del)—
109%
110%
110%
112%
1043A
105
105%
102%
102%
102%
102% 102 %
100
103,
1003A 1013/a
1003A
100
100
100
104% 104%
108% 109
104%
104%
108%
107%
104%
108
108%
108 3/a
109
102%
100
104%
1043/4
104%
104%
109'A
109'A
100
100
104
107%
114
100% 100'A
105
107
102%
102%
114
101% 100&
100
103
109% 1093/s
102%
100%
100%
103%
103%
108
109%
105
105
102%
100%
109
106%
104%
107% 108%
103%
103
102%
—
101%
1023/4
100
101
100%
101
105
100
102
100
102%
100
101%
102
104
115%
116
1153/4
116%
116%
116%
116%
116%
116%
116%
1001 h
100%
102%
102 5/a
103%
104
103%
103%
101
101'A
101%
108
110
103%
109%
109
110
109
110
108%
101%
1083/4
105%
108
106%
157%
105%
156
159
1543/4
159%
139%
130%
139%
1233/4
135%
118%
128%
123
131
104% 105%
103%
1043/4
102%
101
103
100%
10P/4
99%
101
100
102 3A
101%
100
103%
102
102%
Allis-Chalmers
2%s debentures
109%
102%
109
102%
104%
108%
108%
114
115%
99% 99%
100 'A 100%
107% 108%
108%
107%
108%
1043/a
107%
104%
103
102
102
108%
104%
105% 108 A
105
105%
103
103%
101% 101%
105% 105%
1073/4 1083A
143%
153%
146%
151%
149%
154
151%
106%
107%
1063/4
107%
104%
107%
104 %
106%
147% 153%
103
106%
103% 106%
98%
1073/4
1063/4
107%
1043/a
1073/a
1043/a
99%
100%
102%
97'A
1033A
1013/4
1003/8
104%
105
1043A 1053/4
106
106%
106%
106%
105
103'A
96
96
96
95
104
102
103% 1033/4
106%
107
104% 106%
1043/4
131A 135 A
124
124
135%
139'A
July 1995
3%s
—1963
Atlantic Coast Line 1st g 4s„July 1952
General unified 4%s series A—1964
Atlantic & Danville 1st gold 4s—1948
2nd mtge 4s
1948
Atlantic Refining 2%s
1966
107%
136
141
112%
119%
110'A
105
103%
104%
104
1043/4
102%
ioi
103
103%
103'A
104
103%
104%
105%
106 3/a
1053/a
106%
1053/4
106%
103%
106%
103 %
104%
104%
1053/4
1045/«
1063/8
96%
96%
94%
94%
96%
—
101%
100
102
99%
100
99
99%
99'A
95
98
99
99%
98
98%
98%
98
98
99
96
96
94
95
100
94%
105%
105%
1043A 106
104%
104%
134%
137
133
134%
1263/4
166%
138%
124
126%
128%
124'A
1253/4
113%
114
124%
125
114
125'/a
114
115%
95%
1043/4
——1995
—July 1995
105
108
107
1153/8
1043/a
123
105% 107
99%
97
98%
97
109%
'
102
108%
105
103%
107%
105
95
100%
106
105%
103
100
99%
100 3/a
109
933A
100 %
106
100
97
103%
105%
103%
104%, 105%
105%
100
103% 105%
105% 106%
92% 92%
100
102
98'A
101%
108%
-
1st mtge 3'As series "E"
;—1964
//4%s cum income debentures—
(Subordinated)
due
1975
Atchison Topeka & Santa Fa—
'
General 4s
—
Adjustment
-
gold 4s
.../
Stamped
Atlanta & Char Air
1953
Debenture 3s
Baltimore &
1st
125% 131%
July 1948
138%
1365/a
138%
1273/4
123
125%
122 3A
131
105
105%
105%
105%
1053/4
107
104%
106 5/a
104 5/a
111%
112%
1103/4
113
109%
1103/4
109% 1103A
109
111
1083A
109%
103
1093/a
104%
105
117%
112%
117
116 >
118%
463/s
112
116%
110%
114'A
112
116%
113
114%
102
112%
1017/a
44'A
46%
44
333/4
35
129
1273/4 130%
115%
115%
115
115
116%
116
1163/4
105%
103%
106 A 107
109% 112
114
115%
42% 44
37
38%
104%
104%
111
1133/4
1263A
106%
1043/4
106%
1075/a
all5
106
1113/4
125% 126%
128%
43
44
44
46%
45
35
38%
33%
35
335/8
36%
45
46
33%
34%
33%" 34
33
1023/4
103% 106
105%
103% 1033/4
103
105 7/a
104
106%
105% 106'A
104
106
101%
103% Xl01%
103%
1023/a
103%
102
103%
973/4
90%
102
107%
105 %
1063/8
1043/4 105 s/8
103'/a
105
103
103%
102%
98%
94%
38
102
30
33%
29%
101
1023/4
101%
97%
101%
94%
100
303A
28
29%
29
40%
38
38%
98%
97%
1033/4
106
35
40
37
47
104% 1053/8
,
32%
101%
102
101%
102
1023/4
102
105%
34
1033/a
104%
1023/a
104%
49
1023A
103 5/a
104 %
45
46
102% 1033A
Ohio RR—
mortgage gold 4s_
1353/4
125%
128%
126%
Line—
1st mtge
1373/4 1393/4
'
v
Stamped modified bonds
1st mtge (int at 4% to
1946)
Oct 1
July 1948
due
series A (int at
1% to Dec 1 1946) due
1995
Ref
& gen series C
(int at
1%% to Dec 1 1946) due—1995
Ref
& gen series D
(int at
1% to Sept 1 1946) due
2000
Ref
& gen series F
(int at
1% to Sept 1 1946) due..—1996
Convertible due
Feb 1 1960
Ref
&
gen
Pgh L E & West Va System—
Ref gold 4s extended to
1951
Southwest'n Div 1st mtge (int
at 3%% to Jan 1 1947) due 1950
Toledo Cinn Div refunding 4s_.1959
93%
92%
99
99%
101 a/a
93%
97%
92'A
101%
Bangor &
Stamped 4s
Bell Telephone of Pa
Beneficial Industrial
debentures
2%s
2'As
98
102
102
1961
Cons
1st
'
1970
I
1976
1967
mtge 2%s series J
5s A C
5s series II—.—1955
1st gold 4%s series JJ
—1961
1st 4s series RR
——-I960
Income 4%s series A
.1970
Boston
:
mtge 2%s series
& Maine 1st
mortgage
t":
4s s f
debentures
—
mtge 2%s :
—
Buffalo Niagara Elec 2%s
Buffalo Rochester & Pgh
Gen
...—1969
—1969
to May 1
;
For footnotes see page
89%
96%
x84%
76
83%
X70%
88 3A
75%
102
99
102%
101% 102%
101
104
1033/4
102%
103
104%
x99%
1023/4
104
103
104
81%
92%
77%
81
100
87%
72
84%
103%
86%
59
94
98%
94
99%
94%
98
75%
62%
68%
63%
70%
64
70%
78
763/4
80%
74%
82
923A
703/4
85%
73%
753/4
63%
68
64
70
633A
70%
68
64
70%
63%
70%
65%
74
84%
58
893A
93%
88%
75
983A
99% 101%
89%
101%
102%
102%
103%
103%
104
99% .101%
100
102%
100%
104%
101
103%
101%
105%
102
" 1043/4
132%
131%
133%
132%
1333/8
132%
133%
1013/a
101%
101%
101
1013A
101'/a 101'/a
101
101
103
131%
1013/8
102'A
102%
1023/4 1023/4
102
103
102%
•
75
84
58
73%
62%
73%
61%
69%
42%
62%
44'A
51
473/4
53%
48%
99% 1003/4
96%
99%
90%
97%
93%
95%
93%
90
,
1013/4
104
57-
.
94%
'
103% 104%
1033/4
93
99
89
94
90%
92%
86%
90%
104
98
103%
92
99%
90
94
93
943/4.
91
94
102% 104
103%
102% 103
102% 104%
98%
102%
104
99
102%
103
104
98
95
97
96'
97%
96
103%
130%
105
99
102%
103%
95%
97%
96
98%
97
98%
128
128%
105
104
132%
132% 133%
100% 100 7/a
1333/a
132%
127%
127%
129
98%
131
99
•
128% 129.
98%
1073A
108%
108%
106%
106 3%
106%
1063/a
106%
106%
106% 1063A
1063/4 1063/4
100%
103%
101
101'A
77%
807A
78
84%
—
-
.
—•
100% 104
76%
81
519. v-
85
79
104% 105%
74%
104%
102%
103%
103% 103%
108
108
108%
109
106
106
1053/4 IO53/4
75
77
83
76
101%
99
76
X69
66%
;
72
104%
104
106%
105 3/8
1043A
1053/8
106
-
107
107
-
104%
104%
105%
107-
1053/4
107%
1053/4
1075/s
1055/8
107
107
106'A
107 Vs
106%
106%
106
106%
104% 106%
104% 104%-
873A 923/4
533/4 58
56 ;:
56%
105% 107 102 : 103 ..
X83
51
106
85%
87%
48%
57
55.
55
104
98
«
;
104%
100 %
85%
89%
86%
91%
51
56%
50
56
.
54 "
105
-
98%
v
54
105
1003A
105% 105%
100
102
.
.
101%
108
100
106
.
106%
106%
105%. 1053A
973A
99%
87
98
84
89
84%
87
64%
69
50
65
52%
573/4
553/4
603/a
54%
68
60
64
49
49
40%
45
39
43
40%
44i/a
1033/a
104%
103%
1043/s
104%
103%
103%
103%
106%
106%
106%
102%
102%
1023/4
102'A
102%
105%
106
103%
104
105%
103%
105%
106%
104% 105 /
106
*
103%' 105
84%
90%
84%'
48 3/a
55
Y
44%:, 5*:/.
—r"
53
53
V'
106
107%
1023/8 103%.
106
103 %
86%
-
86%
463A
-
81
106%
106
106
38%
—
87%
.•
::
91%
63
101% 102
1013/a
101%
106
106
106%
99%
106%
1003/a
993/4
100%
101%
102%
101%
1023A
106%
53
.
103% 104%
84%
106%
102%
100% 106
99
107
101%
1053/4 106%;
105% 106%
10O
* /
99;
102% 102%
70
103% 103%
105%
—
102% 103
-
«
1053/4
103'A 103%
1033/8 104%
1053/8
101%
101'A
99
98% 100%
72%
70'A
68
101%
98 3A
60%
62%.
100 3/4
69
97%
1013/4
98%
100
100
106s/8 106%
106%
.
100
104%
106% 106%
1053/e
104
104%
1045/s
104%
1065/a
101%
107%
100'
105%
106
106
•
106%
77
103
108%
104%
103
109
106
101
108%
102%
106%
99% 1013A
98%
99%
101'A
97
108
105%
108
1976
—1975
Ry—
.
modified
(interest at
1947) due.——1957
Burl Cedar Rapids & Northern 58.1934
Certificates of deposit
*
—
Bush Terminal 1st 4s__
1952
Consolidated 5s.
5
96 3/a
84 5/a
1043/4
Stamped
3%
93
80%
105
102%
1955
75 % 85
1966 104% 105%
1950
1947 105% 106%
Line 1st 4s
Brooklyn Edison 3%s
Brooklyn Un El 1st g 5s__
Brooklyn Union Gas 6s, A
Boston & N Y Air
General mtge s f 3%s
96%
88%
90
100
99%
913/4
—
——
Cons
853A
82%
95
*
Bethlehem Steel Corp.—
A
97%
88 3A
95%
98
X91
101%
103
101
104
102% 103%
—1956
—
89%
97%
935/8
102%
95
103
91%
99%
1951 .i?/2.!!?, "
5s ser C
1960 130% 131%
Loan 2%s—1950 101% 101A
Aroostook consol ref 4s—1951
98%
935/a
983/4
89%
x86
80%
96
75% 83%
.
r
<
1013/4
97%
97%
993/8
100
100
102% 103%
101% 102%
62 - 78%"
31
38%
30%
30%"
105% 105%
G63/4
38 •
34% • 34%
105% 105%
85% 92%
87-
99
•
60
32%
.
63%
70%
35
40
&%
37 e
38
105
91
•
96%
.
73%
40%
38
-
105%
96%
-P"m
Volume 165
Number 4562
THE COMMERCIAL & FINANCIAL CHRONICLE
515
NEW YORK BOND RECORD
•
/.'/
,
-
-
Bush Terra
Calif
Elec
High
106%
106
108%
109
1974
107%
107%
1962
118%
122
5
3s
1960
1968
Power
Canada Southern
3%s
;
gtd 5s A
cons
Canadian National gold 4%s
.
1957
Guaranteed gold, 5s—*
Oct 1969
Northern
Canadian
Pacific
Carolina
Central
Certificates
deb
4%
1st
of
.High
107'A
106%
107%
108%, 108'/a
106%
Low
;•
108
•••
High
108%
May
,'J
High
Low
109
108%
June
Low
108
i
■;
High
109
cons
122
107%
107%
108
106%
108
122'%
125
122 3A
107
123
121"
124%
107%
,
.
124 3A
125%
124%
125%
124%
125
117
125%
116%; 117%
118'/
116%
117%
115
117%
T
v
306%
106'A
3 06'A
106%
122%
123
120
123
118
122%
122%
120%
122%
122%
122%
115%
119
118
118
117%
117%
123%
123%
124
123%
123%
122%
123.
123%
121 v-1
121%:
120%
115%
115%
116'/a
122%
115%
123%:
114%
116%
114%
115%
114
114%
114
102%
108"%
102%
114%
101%
102'/a
101A
101%
100 JS
100%
100
118'A
118%
121
116%
120%
113
115
102%
107%
107%
107%
108
108
108%
107%
108
107%
109
108
102%
108%
104%
105%
104%
U;
121%
1981
104%'; 106%
90%
88
106%
90
91
106'A
■: 90
106%
106%
88
106%
V?
104
88
107
87%
90%
99%
93.
94
102%
96
102%
'•
106%
92
103%
tu
87 y»
106
91
'■
105 y8
92%
108
89%
90
104
105%
104
78
83%
81
89%
/
92
';■■■
108
108%
107%
39%
44%
109%
109'A
105
105%
51%
104%
106%
102
105
41
41%
100%
104'A
44'A
42%
61%
50
60%
48%
60%
48'/a
59
46
50%
44%
48%
42'A
45%
1987
39%
56
47
53%
44
47
41%
45
40
43
1987
52
52
50 %
50%
44%
44%
42%
44
107%
107'/a
108
107
105%
47
49%
42%
74
20
24
10%
18%
13
27%
19
15%
24%
10%
19%
13
15
73%.
-13%
73%
14%
74%
67%
70
52
52
52%
53%
58
64
109
109
85%
88
106%
101%
1091/4
109
109
98
99
81%
93%
43%
26
38%
281.
42%
46%
30%
37'/8
45%
36%
381/4
431/4
24
38
26
31,/
29'A
29
42%
36
43
34
34'A
29'A
37
35%
23
34'/a
23'/a
30
25
29%.
25%
30%
21%
27
24% i 24%
105
105%
105% 105%
108%
110
108%
109'A
108%
109%
107%
108%
106%
105 Va
106%
105%
107
104%
107%
105%
105%
105
105%
104%
104%
106%
107
48%
48%
351/4
108
107
108%
106
42%
107'A
105
106
104%
108
107%. 108'A
105
39
105%
108'A
107%
108'/a
107
107%
105'A
106%
105
105%
104% 106
113
1974
48%
103'%
113
110%
49
105
105%
113
49%
48%
49
112%
105'/8
112%
109%
109%
108%
108%
106%
tH 0 CO
49%
50
49
48%
50
105%
105%
104'A
106
104 3A
105
104%
104%
105
105%
105'A
50
50
49'A
50
106%
103% 103'/av
103% 103%
140'A
137% 138'A
140%
140%
105
IO51/2
106
105%
105%
106%
105
106'A
106'/a
105%
106'A
105%
106%
105
106'/a
128
128
126
1261/4
126/
126
126%
126%
i/:
146
146%
146
146%
145%
147%
145
106%
105%
106 %
105'A
106
105%
106 'A
105
1451/4
I06i/a
105%
106%
104%
64"%
1958
116'A
118%
refunding 4%s series B—1977
ref mtge 3%s
1985
105
106'A
117%
118%
105
106'%
1949
3s
58'/4
106%
105%
106'/t
105
105'%
105%
106
132%
132%
132%
132%
132%
56%
60%
52
577/a
47%
1191/a
118
118%
114%
116
109%
114%
110%
119 -U
111%
117%
H91/2
117'A
118
109
112
111%
114
103'A
104
113%
1021/4
103%
115%
103%
110%
104
99%
101
100%
101%
100%
991/4
97'A
98
97%
98%
G4%
59%
62%
118
118%
118%
119%
119
119%
119'/a
119'A
119
118%
119
118%
119
119
119'/2
119
H91/2
119
105 Vz
106'A
103
106
103
IO31/2
103
103
105%
101%
106
101'/a
1970
Chicago & East Illinois Ry—
General mtge income (conv)
1997
1st mtge 3%s series B
1985
Chicago & Erie 1st gold 5s
1982
(Chicago Great Western 4s ser A__1988
General mortgage 4%s
2038
,
75'A
99
81
58'A
62%
102%
99%
103%
101%
86%
79%
83%
67%
78'A
101%-102 V2
88
102%
104 i/a
,
»
58
61
99%
67
101
99%
71
65
100%
98%
70%
58%
99%
96
98%
92
96%
94
£9
96
99
92
97
83
X75'A
82
70
77
66 %
72%
64%
70
64
67%
59%
63
122
121
1321/8
131
113
113
121
107
107
107
108%
106%
118
114%
115
101
131
118
122
1947
100
112
115
4s
102%
100
1031/4
102
144
121
107
107
96%
144
100 i/a
144
1966
22 %
26'%
23%
25
20%
231/2
20'A
231/2
20
231/z
20
22
20
25
30'%
26% _<
30
24,
28
25
26'A
22%
251/2
21
24
21
107% 107%
109
110
110'A
105%
105%
105'A
105%
105%
105%
2019
103'%
106
1051/4
107%
106
107%
2044
A
86%
90'A
96%
Chicago & North Western—
2nd mtge conv inc 4%s
1989
1st mortgage 3s series B—
1989
Chicago Rys 1st 5s stamped 25%—
Partial redemption
1927
Chic R I & Pacific Ry gen 4s
1988
Certificates of deposit
Refunding gold 4s
1934
4%s series A
Convertible gold 4%s
95%
106%
94%
106'/a
66%
68%
67%
93
92'%
106'%
92'%
72%
95'A
62%
69%
1960
Chic St Louis & New Orl gold 5s„1951
Gold 3%S
1951
105%
Memphis Division 1st 4s
1951
Chic Terre H & Southeast 1st 5s—1960
guaranteed 5s
I960
28
109
llO'A
97%
106%
71
90%
96
98'A
106%
95y2ll02i/a
x80'A
91
91'A
97%
107
97%
81%
901/a
105
68%
109%
O CO
03^
70%
89%
96%
65
55
38
—
90%
46 '/a
84%
86%
43:'V.
497/a
80
72
77%
60
69
48
57
31
49%
57'A
62 V2
39%
34%
93 y2
91
94%
74%
90
79
86
82
84
70
79%
48
70%
49
581/a
55%
64
58%
84
92
81%
85%
60
81%
69
751/2
73%
81
79
106'A
85
103'A
199
99
99'A
99%
98%
57
105
105'A
105%
104%
105 7/a
105%
66%
69%
65%
69%
66%
67%
66
66
87%
93'A
89
91%
88
92%
84
89
91'/a
88
88
90
90
67
65%
71%
64%
681/4
63
35
30%
38%
35
39%
33'A
391/2
107%
107%
32%
108
36
28
100
ip2
101%
102
101'A
106%
105%
106
105%
96'/4
99
97%
97'A
104
63
100%
103
561/4
104%
105%
104%
104%
102%
104% 105%
79%
86%
1053A
60%
32%
108
64%
39
65%
53%
54
56
61%
57
58
81%
60%
90
64
80%
64
73
70%
75
87%
63%
67%
671/a
38%
55%
54%
57
24%
108
103
IO41/2
105%
82%
67%
35%
43
49'A
48
461%
26%
108
106
102%
102%
104%
100
100
95%
83
51
27
104%
106
101%
102'/a
II
98% 100
98%
99%
107
107
99%
107%
98%
106%
99%
98%
107%
106%
107%
98%
100
99%
97%
991/4
106
107'A
94%
91
93%
94%
90%
93%
83
831%
83%
80
107%
107%
107%
108
108
108%
105%
105%
106
107%
104
108'/2
105%
106
105%
104%
1051/2
106'A
106%
105%
111%
111%
111%
104
111%
112%
111%
106%
106'/a
112%
111%
112
104
111
102%
111%
110
103%
104
111%
109%
110
D
106
106'%
106
107
105%
107
105
106
106%
109%
105%
1051/4
1061/2
105%
107
107%
105%
107
106%
1071/a
107
107%
105%
1071/a
105'/a
105%
105
105%
56%
56%
59 7%
59%
59%
1957
1952
88'%
99
93
1975
103%
107
59
106%
60%
60
61%
X42%
60%
60
60%
60
61%
X43
90
93
89
90
100
107%
60%
107%
106
60
104%
107%
83
1977
4s„1991
1990
3s—,.
Pittsburgh—
1970
87%
105%
102%
107
,
103%
105% 106%
105
106 1
63
42%
43
43
43%
43% i 43%
43
43%
43
46
63
42%
431/2
43%
43%
43
44
33//
43
45
43
46,%
45
831/2
80%
85
77%
78
45%
78%
81
45%
32%
33%
62
106
73%
64
105'A
70
69
104%
105%
76%
104%
105 7/a
112
112
112%
112%
112%
112%
104% i05%
112%
103%
113
105%
1131/4
113'A
102%
112%
113
103 7/a
113
113
112%
102% 104%
102%
112
106
107
105%
107%
104%
1051/2
111%
104%
106
112
105'A
105%
112%
103%
105
112%
105%
105
105%
111%
105
111%
105%
111%
102%
105%
111%
1021%
103%
.102%
103%
102%
991/4
99%
104'A
108%
104%
111% 111%
111%
118
107%
83
121
99%
85%
108%
86
110
81%
81
98
98%
97%
—-
-1998
57%
y.29%
97%
107
City Ice & Fuel 2%s_—
1966
City Investing 4SJ.—1961
Cleve Cinn Chic & St L gen 4s
1993
5iy4
53%
107
1974
46%
25
104%
110'A
1st m 3%s ser E 1969
76%
72%
rl04
108%
1943
58
73
27%
103
91
101'A
48%
108%
1962
•
100%
97%
96
96%
1963
105%
86%
56
23
102
102%
101
43%
54%
21
108
101%
104%
72%
57
19%
108
106
97%
96
70%
36%
110
105%
L
103'A
102
105%
109
109%
v'
67
93'A
90
59%
107'A
105
100
74%
651/2
74%
104%
91%
89'A
61%
66
51
99%
105%
67%
80'A
58% ,166
43
108%
111
53%
99
107
4s
87%
1
101'A
61%
741/4
62
108'/a
St Louis Div 1st qoll trust
44/
43
108
Ref dp impt 4%s series E
Cinn Wabash & M Div 1st
.
?
99
108%
B__,
86%
85
99%
89
66'A
81
59%
108
"G"
/
39
108
2%s
44
140
98%
—
107%
5s
37%
140/
—
108'A
1st mortgage 2%s series
&
85 V
108
cons
Cincinnati; Gas .&>.Elec
Cleveland
94%
43
108
—
Electric
84%
140
50-yr 4s__1952
cons
Gulf
43
140
107
Childs .Co 5s part paid
5s part paid
Cleveland
"
140
83 'A
101%
59%
106%
-1963
series
101%
100
1051/4
105%
72
1994
mtge 2%s series "G»%
114%
98
II
Chicago Union Station—
1st 3'%s. series F
44
84
140
144
109
88%
105%
1994
2%r4'As
2%-4'As
95%
105
100%
96
deposit
95%
93'%
106'%
1952
-
38%
40%
111% 112
95%
140
58
53
1994
series
.
--
inc series B
41%
112
21'A
72%
2003
'
Cinn Union Term
—
'144'
Pac—
Secured
43
36'/2
38%
111
20
1966
Chicago Indiana & South 50-yr 4s_1956
4'As
94%
•
,
144
—
1983
Chic & W Indiana
58%
39%
101%
125'A
120
115
of
32
113
125%
131%
124
113
116
127
&
39%
102%
112
Paul
99%
62'A
55
47%
96
97%
106
.
31
99%
102%
1947
A
65
98
99
1947
A
ser
100'A
53%
78'A
97%
82
Refunding gold 5s series B
Refunding 4s series C
1st & general 5s series A
1st & general 6s series B__May
2nd 4%s
—
97
144
94
75%
106%
132%
105%
Quincy
&
Chic Ind & Louiv ref 6s
1351/4
1989
54'A
Burlington
106%
135
107%
1989
45
43i/a
1031/4
151%
105%
4996
—
137
147
106
4s
..
102%.
150%
105'A
cons
-•
144
149
106%
Div 1st
49
—
105'A
148'A
1st & refund 2%s
,
37
136
145%
105
5s
31%
\
105%
145%
consolidated gold 4s
106% £
45
107'A
General
109
87%/,92%
102
144
General1 4s
<
'
108%
-
—
106
106%
Choctaw Okla &
-
107'A
107%
1996
ref
16
lOi'A
1992
&
65%
-v
39
3Vis.series D
3%s series E
1st
14
102
4 Vis
1st
101%
53%
457/a
39
1960
Chicago & Alt RR ref gold
•
95%
94
104%
General
ref
84%
"
38
106'/8
Ref
&
<%
95
39%
107
Central RR & Banking—
5s partial
redemption
Champion Paper & Fibre deb 3s__1965
Chesapeake & Ohio Ry—
1st
-84'•••;/
50 /-:,65. ?
14
15
X103
43'A
1949
4'As to Aug 1 1949
Income
•
42
A
Certificates
78
87
■
47
105
108 »A
107
•
15
73%
€ 12%
105
109
47
107%
108%
82
28
39
104'A
103%
21%
83
109%
40
101%
23
83%
109 y8
102%
28%
83%
40
101%
103%
28%
26
108%
102%
73
26%
39%
105
93
52.
28
108%
103%
83
88
28%
41
104%
105%
92 y8
91 U
75
73
85
373A
103%
.vi
77%
•
46%
26%
40
105
104'/8.
108
77%
85
76%
108%
.103%
105%
103'/aio3%
87 i
80
26
37
105%
69
33%
108
107%
78%
102%
101
84
,
107%. 108'A
89%
105%
47%
78
.
107%
104%
86%
26%
Income
107%
107%
89%
105%
76%
78
4s series A
107%
109
90%
104%
105%
28%
gold
impvt
Ref & impvt
Rich & Alleg
' 106%
70.
76%
&
j 104%
105%
81%
25%
1974
105%'
103%
113%
72%.
106%
26%
Light 3%s
1966
Central New England 1st gtd 4s__1961
Central of N J: general gold 5s
1987
5s registered
1987
■
113'/a
87%
88
105%
81
Illinois
;
119
w
105
89
105%
78
series
118
106
24%
conv
119
104
80
4%s
118%
112%
25%
4%s
119
103%
76
St
118%
111% 114%
105
__
22 %
Milw
119%
117%
1959
Chic
119
112 A 112%
5s
series
114
120% 5
119'/a
112%
gen
&
113%
118%
&
1st
114%
112%
33%
&
114
117%
87%
1st
115'%
109
V- 119
112%
Ref
.
114%
106
<
118%
79
Chicago,
114%
118
27%
2nd
113%
112%
28%
gtd 4s
113%
120%
112%
84
ref
113%
1151/8
78
5s
115%
113%
26
1st
113%
;/:•
118%
111%
26%
gold
119%
113%
87
series
1187/a
320%
78%
Pacific
120
112%
24%
ref
119
120%
26
1st
112
119%
■
121%114'A
83
Guaranteed
105
no:
113'/a
23%
Central
105
114
120'A
i
74%
Central N Y Power 3s
105%
109%
/
103%
121%
1959
registered
105%
118%
120%
/ 105
121'A
122'A
121%
114%
1945
4s
107%
;
114%
-
116%' 116%
121% J 21%
gold 5s
5Vis series B
-
105
106%
119%
322%
116%
105
103%
.
116%
gen
4s
103%
116'A
&
:
105
103%
122%
123%
Consolidated
C
105
104%
115%
Ref
purch money gold 4s_1951
Mobile Div 1st gold 5s
1946
High
105%
104
116%
1960
Chatt Div
Low
v
115%
•
Central Branch Union Pac 1st 4s__1948
Central of Georgia Ry 1st 5s__Nov 1945
December
//Low 'High
116. J 116%.
116
116%
:
1965
November
High
105
100 A
114
100 3V 100%
113% 118
123
October
Low
High
108
—
123%
gold 4s_1949
Corp 3'As
September
Low
105
106%
119
deb stk
-
x
High
308
105% 105%
106%
106%
1951
deposit-
August
Low
105%
120%
121
123%
123
Celanese Corp. .of Amer deb 3s-
General
High
109
106% 106%
118%
Carthage & Adiron 1st gtd 4s
Central
July ^3
120
1946
6%s
coup
series
-
Low
104
122'A
121
Carolina Clinchfield & Ohio 4s——1965
Celotex
104%
April
Low
1956
4'/as—
4y2s
gold
gold
Canadian
;,
117%
gold 5s
1970
Guaranteed gold 4%s—.June 15 1955
Guaranteed
Guaranteed
Low
115%
116% 116%
Guaranteed
,
January
.1976
—
3Vis
Calif-Oregon
•
r
Bldg stamped 1st 5s
Power
March
February
LOW; High
;■
BONDS
• t-
,
98'A
97
97%
89'%
99
91%
90%
93%
105'A
106'%
108%
108'A
1181/2
115
117
111%
115
110
111%
100
97%
109%
109%
110%
106
108
99%
Q9
Q"?
92%
91
107% 1081/a
98%
91%
95%
93%
93%
109%
86%
89%
109%
108%
110%
105
86%
105%
108%
98%
99%
109%
99
100
119
95%
89
94%
100
96
90%
95
90
106'/a
87
105%
88%
105%
106
109% 109%
106%
109
110%
109
109%
108%
110
108%
110
108%
110
116
116
114%
116%
112%
112 %
112%
111%
112
74
89%
91
78%
103%
99
81
72%
81
99
''
85%
ido
119
76
82
78 /
74
84%
79
74%
78
76
19
95
88%
95
97
99
96%
96%
105
105
107%
109'A
107% 108%
107% 108%
107%
107%
107%
107%
110
108%
108%
108%
105%
108%
105%
107%
106
108
104
107%
104%
106i/2
104%
106%
104% 105%
"
.106% 108%
'
3%s series C—
Cleveland
Short
1948
Line
1st 4%s—1961
Cleve Un Term 1st s f 5%s ser A—1972
1st sinking fund 5s series B
1973
ist s f gtd 4%s series C
—1977
Colorado
3'%s debentures
1980
58—1961
Columbus & Toledo 1st ext 4s
Commonwealth
109
106%
107%
1063A
108
106
107%
106'A
107%
109%
107%
106
1071%
106%
107
105%
106
105%
106%
106%
108
106 '/a
107
105
1061/2
105
106%
105
105%
105%
106
1051/4 106%
83%
80%
84%
102%
104%
102%
103%
79%
110
81%
72
103
104%
103
104
106%
—
106%
106%
110'A
—1958
79%
111%
109%
x70
72
69%
103
104
102%
Consolidated Edison
->.1977
(NY)—
110%
110%
116
1251/2
109%
110
108%
109%
106%
106
106%
106%
1061/4
16
109
116
108%
109%
123% '135%
109% .110
105%
106
106%
106%
108% 109'A
60
48
53%
106%
107
105%
106%
52
56
55
:f
65
1091/4
108%
102%
103%
103% 105%
109'A
109%
102%
110
ioi%
109%
109%
107
107%
107% 109%
106%
107%
107%
107%
103
103
105
109%
108%
110
109%
110%
108%
109%
109
109%
108% 109%
107%
106%
108
110
109%
110
106%
106%
106%
107
106% 106%
106%
106%
106%
104
104%
104%
104%
102%
106%
104%
101%
105%
104%
104%
103% 105
1017/a
103
101%
102
101%
101%
102
102
104
102
102%
101%
101'A
102%
102
103 Ya
101%
100%
103
101%
102%
101%
104%
103
103%
104%
102%
101%
104%
105
103%
102
105%
104%
105%
104%
105
102%
104%
104%
104%
1043/4
104%
104%
104%
104%
104%
104%
102
103%
104% 104%
37%
39%
101%
101%
*
104% 107%
i02% 105
;io7%
108%
107%
108%
losya 108%
106
1965
105%
106
105
105%
104%
105%
104
104%
103%
1955
103%
103%
.103 y8
104
103%
103%
103
103%
102%
103%
103%
Power
2%s_—__
1975
Baking 3s deb—,.
3'As„—1
Northern Ry 1st 5%s
Deposit receipts
106%
67
75%
67%
74%
67%
75
46
—.
For footnotes
see
page
519.
,
72 %
76
75
:
76
70
75
75
68
58%
1942
50-year 5s gold—1952
receipts
;
:
50 /•
86
Deposit
47'A
7'/aS deposit receipts.—
1946
49'A
50'%
6s deposit receipts "B"
—1946
48 >'
50'%
Curtis PubUshing.^,^.........1955- '101%. 103V»
.
45%
—w
105 y4
1956
.
Cuba
„
65%
116
Consumer
1st
60
111
i05%
116
105 '
RR
68
107%
106%
106
129
111
131% 140
1948
3%.s debentures
Cuba
61
107
105%
105
lOi'A
3%'s debentures
&—
—,.1958
Consol Ry non-conv. debenture 4s—1954
Non-conv debenture 4s J & J—1955
Non-convertible debenture 4s—1956
Steel
71
103% 103%
103%
•*'■--■.
3%s debentures
Crucible
105% 107
105
116
110%
Ry & Lt 1st & ref gold 4%s_1951
Connecticut River Power 3%S——1961
Consolidated Cigar 3'As—
-i—1965
Continental
el08
106%
110%
108%
.
1955
1st mortgage 3s series L
.
107%
107%
104
Edison—
Convertible debenture 3%s
-
ioB'/2
106%
80'A
1971
_•—
Colum & Hock Yal 1st ext gold 4s—1948
Columbus & South Ohio El 3.'As—1970
Conn
103
112%
107%
& Southern—
4%s (stamped modified)
Columbia Gas & Elec deb
.
115% 115%
108% 110
106% 108%
106
.108'A
86
x44
"
59%
47
50
86
•80*
68-
>
70%
68%
70
65
68%
;
68%
62
r
.
106%
35 y-
40 ?
36
55
57
341/4
36
33
55%
55%
36
39
36
105%
107%
105
104
104%
103%
103%
103%
106
103%
101'A
102'A
102%
103
102%
103%
101%
105%
102%
103
103'A
*
42%
58
55%
103%
58%
101%
57
46%
50
46%,
49%
49%
51 y4
49%
81%
82%
80
02
82
45
40
41%
821/z
82%
42 ;1
82%>
83%
41%
84ys
r41
43
42
43
45
46
46
42
-
48%
45
45%
47-
45%
43 *:
43
'45%
43%
45
43
44
45
46
43;
43
'
43%
45
43
43
44%
43%
51
47"
59%
50%
104%
56%
50%
50%
36%
103%
37
81%
43%
50%
36%
104%
47%
52
50%
38%
39%
37%
39%
103%
56%
45%
100
38
105
46%
49%
100
37%
103%
80%
44%
:
106%
103% 1041/4
103% 104
38
59
82
53
105%
V.
84
51
81
•
-
100% 101%
101% 102%
104% 1051/4
43
36%
82
59
48%
59
107%
57
101 y8
47%
58%
83
50%
100%
55
soy4
53%
101%
60
57%
,
101
60
47%
51
101%
61
82
*45
101%
61
58
51 y4
102'/a
58
62
48%
85%,
46%
48%
101%
60*
61
60
58
50*
102
61
60
70
47
.84%
46%
100%
68%
.65
102
47%
60
48%
'
'
46
45
^
,
*
i
w:
45%
101% 102
61
61
,
52
48
50%
; «Hjip ■
;
''
"
'
.
IS!#S?»S:
■
•'l|'
'
.'A'«
'
-1
>
i
/.
■■'
SS-'-v-- '
Mtit
Thursday, January 23,
vtoiyty^i ji'£^R££vj
'"j1 "'.f-f.-./ :.u
iiililll-iii
iiim.
V'*"
*
NEW YORK BOND RECORD
i'ii>Vi|''i' iWii*
-
Mfurf—^Mureh-1'-^
low
High
low
High
low
High
i06Vh
107%
106% 107%
105% 107%
106
106%
105%
10iS
106%
107%
106% 107%
106
May
low High
105
105%
105% 104
105%
103% 107 C: 100% 104
October*--*^--' -yuTcmbec* • - •-l^^w»1H>r^ -■•:I:
low High Low Hlgh'^S
;103%f 102% 103, 1 102% 103% 102 103% -
June---'•—- July,--...-—.- August - Septemberlow High
low, High
low^ High* low High
105
105%' 105Vi 105% \ 103% 104^; lOfr
••••■'•••-
104% 105%
102
103%
104% 105
102,
103%
-.-■
liOW High
104%
91% 100%
104% 104%
99% 102%
,
48',
63% .?
47.:
108% 109% S 108%
46
67
:
46
73%
79 48%
64%
62
9%
12%
8
:10 & : V
7
:
9
12% V: 7%. , 9%;.
7 „
62%
71%
44
63
42%
106% 107% : 107% 106,% * 107%
-1084'-'108? r 108^
108% . 108%
109«19^ : 107% 108%
106%
69
71
v:. 57
.
64 ii- Si 59
63%
;.
66%
.
109% 109% :
9 -m
-54
.
108% .
108%
57%- 64
' 59
66
61% 65
61
66%
7
-9% ■ 6%M'8 '
6% ? 9%
• - 6%?k>7% >
-54
58
53% 59
107% 108%' 108^ 108%
108'
108%
168% 108%
107%
59 %
106% 107%
58 %
60
62
63
9
.
.
.
»
53
.
.
,
105
;40i^S42?i'.v?. 35 .-;.35.%<;t>- - 33
'
105
-
106* '' 106 ;
90% 93
1U
92%
110% 112..
Ill
91%. 92%.- 92
114% UT 3
91%
94%'
105
105
'
107%'108
62 ^ 63%
_
__
—
.
'
.
.
,
53
116-116%
05
96%
106% 106%
■
,
53% > 59% ; 53 ?>-60 v.,,
107% 107% f 106% 108%
52%
108%
Id
67
103% lOi >
95
98
103% 104%
93% • 95%
102% 104%
89% 93%
102
1
j-
—
31%>'>35%r
toSS1*". v.:: 3sS4'-/i^35^'-
106%
,120% 120%f 120%'120%
105%. 106%
104%i 105%. V 165% '106% S105 % * 106 % *'f 106. •
122
122.
121%
121%:; 121% 122
102
102
loiv
102;.
106%
106%
105
105%- .-'105-% 106%;<
HI
120
;
:
.
^
i_
105106%-llo5%R 105%
96%
106% 107 <
74%
80
30%
34%
68%
73%
71
73%
100% 101%
101A 101 Jg
97%
106% 107Va
59
73
16%
25
50
64
50
63%
94% 100%
100% 101%
112:
112%
112%
115
112
*
112
112
112
OT.
—
107
107%
60
66%
17 - 22
51%
58%
52
58%
93% 96
~
—
—
113.
113
112
Ill
—
106
107
X55% 66
18
:22%
48% < 58
50%, 59
94%
ot-
87%
102%
96
—
93%
103
102% 104
—
—
88%
91%
102% 103
102% 103%
105
105
75%
101
102
81%
78
104% 104%
102% 104
104
104
103
103
122
122
102
103%
103
104%
2%
75%
74%
77
74%
104%
104%
2%
100
—
For footnotes sr* natre
51<*.
-,*»
-
a
:;^k'.-Mi{id,.
"\*i
v*.,-a.
a-\•*
.
.W '■&W'.vl?*** i
^
2%
101%
—
;
74
2
101% 103
98
100
sVoliitne■ 165 S Niinibef
4562
THE COMMERCIAL & FINANCIAL CHRONICLE
NEW YORK BOND
January
«
Low
Hii
February
Low
Hig]
March
Lowv,Hi
RECORD
August
High
Low
September
Low
High
October
Low,;, High
November
LOW
High
December
Low
High
Thursday, January 23, 1947
THE COMMERCIAL & FINANCIAL. CHRONICLE
NEW YORK BON D RECORD
\
V
<„»
IV-A V
.
,
„
3%S-L.-..-i96:i
N«w York Steim Corp
& west 1st ref g 5s
1937
gold
General gold 5s-...~w...«.-»-—..1940
Terminal 1st gold 5s
.
1943
105Va? 108%
72
N Y Susq
1.1946
N Y Westch & bost 1st 4%S ser
1966
Niagara Palls Power 3%s_
Norfolk & Southern Ry-—
"""
4'/aS series A—1998
I....—...:——_..._2014
Norfolk & Western Ry 1st cons 4s_1996
North Central gen & ref 5s ser A-1974
inc
General
4s
4%s
ref
&
series
registered
lien gold 3s
.1997
.
General
3s
Jan 2047
registered -..^_.-._.__.._-2047
Refunding & impvt 4'As ser A..2047
Refunding & impvt 5s series C..2047
Refunding & impvt 5s series D..2047
Collateral trust 4%s.
......1975
Northern States
1975
—1964
Ogden & Lake Cham 1st guar, g 4s.l948
Edison
Co
1st mortgage
68%
73%
40
September
High
Aj
Low
High
106
106%
Low
105%
104%
42
29
"
68
29
98:-,
38%
106
100
49
<•
41
45
64
k,-47
37
32%'
97
68
October i
Low
105
High
105%
"39%
46
December
November
High
L05f
39%
106"
33
41
»
High
Low
105%
Low
104
39%
37
20%
100
%
95%
...
47
97%
39%
45%
34%
41%
26
108
108%
108 %
108%
108%
109%
108%
108%
108
35%
108%
101 7/b
103%
102
103%
102%
103
102
103
102%
103
1
100 A 103'A
59 Va
65
66
71.
66
120
124
115 '/a 117 Va
85'A
89
82
85
1053A 107'/a
1083A
107% 109
105 Va 106%
107
138
140
132
1357/s 1373A
138Mb 138%
132
123%
127% 124%
118%
122
69%
143%
'
94%
88%
57%
140%
139%
137%
139
137%
88%
87%
108%
94
107%
131%
131%
131%
118
122%
114
113%
114%
111%
84%
877/a
90%
89
105
110%
109%
111%'
109 y4
108 y4
1Q8
110%
109%
111%
110
108
108%
106
104%
105%
103%
105
110%
105
101%
104
74%
75
69%
70
71
68
97%
96 '.
100
y
:
72
71
95%
93%
106% 109
93%
99
101
100%
102
106%
98%
98
102
100%
102'A
100%
98
101%
—
105
i 109%
104%
103%
110%
105
69%
86%
108 %
105%
73%
86%
82
108%
86
106%
110%
107
89%
86%
90%
84
106
,87%
108 %
105
115%
113%
-
119'A
110
142
113
118%
133%
131%
115%
43%
58
137
142
__
131%
118
'
52 %
135%
59
139%
133%
122%
91%
85 %
52%
__..
133%
126%
119%
106%
64%
143%
133%
109
105%
w
1073A
109
105%
>104%
105%
.
97%
101
106 % 107%
24%
27
23%
25%
101%
104%
102% 103%
101%
101%
102
100%
102%
106%
107
107%
107 Va "107%
108 %
109
109%
105%
109%
14%
16
107%
22%
106%
1077/a
106
107%
105%
106%
103%
105%
102 y8
104
102
103%
22%
108%
108
108%
107%
101 Va
104%
104%
106
105%
105%
—.1975
101%
104%
104 %
104%
104%
105
103 y8
105
1946
1007/8
100%
100%
100%
100%
100 y4
100%
5S.1946
101%
101
101%
101
101 %
26%
29
23%
102%
991i
103%
100%
101
100%
100%
•
103
102
21
24
102%
102%
23
102
107%
'
105
102%
105%
100%
106'A
21
104%
104%
106
102
100
100%
106
101
100
100
100%
106%
100%
101%
103
21
15
103
106%
108 %
103%
107%
<
100& 100% '
101% 101"%
101
101%
100%
101
100%
100%
100%
100%
1053A
107 'A
105
106%
104%
104%
105%
104%
105%
1946
100 'A
100%
100 %
105%
100%
100
100
108%
108%
108%
108%
108%
-.*..1946
ser
22%
29
25
103
108
A.I960
cons
1st gtd cons 5s stamped
Oregon-Wash RR & Nav 3s
1st
101%
103%
106%
107»A
gold 4s
cons
101%, 101%
101%
103%
106
107%
..1974
Oregon Short Line RR 1st
Co
1023A
103
105% 105%
.....1975
3s
2%s_.t
& Nav
Pacific Coast
108
23%
108%
Oklahoma Gas & Elec 2%s
Oregon RR
Lew
High
106%
'
March
1974i102%'105 ?
1
(Wis) 1st mortgage 3 %'s...
Ohio
February
Low
Power—
1st mtge 234s
mortgage 2%s
(Minn)
1st
75
42
31
98'A
1974
A
prior lien 4s_1997
Pacific Ry
>
97
323A
42%
108
108V2
1st & refunding
Northern
.
'39%
29
2nd
5s conv
Hi{h\
low
BONDS
■■
January
5s
—
—
...
...
—
105
106
105'%
106%
108%
103%
108%
108%
109
104%
105%
109
109
108%
108%
108%
106%
108%
108%
-.1970
108
109%
107%
108%
107%
108
107%
106%
108
107
108
107%
108%
108
107
109'/b
105
105%
105%
106
106'A
—1971
108% 109%
109%
110%
109%
109%
108
107%
108%
109
110
108%
109%
108
' 108%
106%
107%
105
105%
106
106%
106%
1st & refunding 3s series L—1974
1st & ref mtge 3s series M_
1979
107% 109'/2
109'/a
110'/4
109 %
109%
107 %
108 »/a
109
108%
109%
1Q8
109%
108
108%
106 »/4
107%
105
106%
105%
106%
107%
107%
1107/a
110%
111%
111%
111%
107%
108
109%
107%
108'A
109%
110 'A
108%
109%
106%
109'A
105'/a
107%
105%
106%
108%
1st & ref
109%
110
110
111
110
110%
107
108%
109
103
109%
108%
109'/a
108 Va
109
106%
108'/a
105%
107%
105% 106%
107
104%
106%
lu^t'A
luo
100%
102%
103%
104%
Pacific Ga» &:
3s
EL3%s
XiLii..1966 '*■ 108% 109%
ser
series
.
3s
series
1st
SC—Li.—.....
mtge 3s series N
ref
&
__1985
Paducah & Illinois 1st
f 4%s—1955
s
3%s
"B"„__1960
Passaic Gas & Elec 5s_1949
Penn-Central
Airlines—
inc
conv
Pennsylvania
Pennsylvania
Glass Sand
Power
1st mortgage
117%
1253A
112%
122
114%
120%
1952
111%
112%
112%
113
113
113%
102%
102%
3%s
1960
—
113%
116%
108
104%
104%
104%
104%
108'/a
101%
104%
113%
104%
104%
Light—
&
3s___i_„^
.____1975
sinking fund debs...
3s
xlll
1
E
series
Pennsylvania
i
105%
__
I960
debs..
4s
105%
'
Co.—
Guaranteed
102%
107%
1986
___
Panhandle Eastern P L 3s
Paterson &
109
—1981
& Tel 2%s
27/8s debentures....:..:...
•
1977
mtg 2%s ser P
Pacific Tel
108%
1965
Pennsylvania RR—
%
Consolidated gold 4s
Sterling stamped dollar
106
104
1067/a
105%
106%
107%
106%
107%
104%
107%
105%
106 7/a
104
105'%
105%
105%
105%
104
105 3A
104'A
104%
104%
106%
,,
Consolidated
General
5s
series
>
General
4%s
Convertible
E___._
debenture
Income
104%
105%
104%
104%
104
104%
104%
104%
104 Va
104%
103%
104'A
105
104%
105
104%
104%
104%
104%
104%
104%
104'/a
104%
103%
104%
127%. 128%
122% 124 Ya
126
127%
126%
127
120%
126%
121%
122'/a
119
123 •-
119%
120%
124%
122%
123%
115%
122%
113
117
113
116%
113%
124%
120
128%
124
127%
133%
136%
136
127%
130%
129 7/a
—1952
.
127%
128%
122%
122%
138%
137%
138%
133
132%
133
130%
133%
130%
131%
124
130%
123%
125
132%
133%
125%
134
126
126
127 "A
125
127
122
124'A
115
122'/a
113
117%
112%
115%
113%
116%
115%
117%
112%
116
113%
116%
104'/a
101%
103%
102
103%
99%
100%
100
101%
103
102
102
.
128%
130%
133%
125%
134%
126%
127
127%
125
127%
123
124%
107%
109 %
108
111%
108
109
106'/a
109%
106
106%
107%
106
-107%
105
106%
106
107'A
106
106%
105'A
106%
105%
105
105%
104%
106
105%
106
105%
105%
104%
104%
104%
104'A
104 »/4
104'/4
104'A
1947
106
106%
130
135%
133
106%
103% 103%
105%
121%
113%
103
105
103 '/a
100%
105%
99%
103
103 A
103 A
1960
extended
4s
4s
125
137
135%
105% 106%
1985
117'/a
139%
120
92
94
89'/a
94
87
90%
86
90
84%
85%
87%
81
86
79
82
69%
1990
Eastern
&
105
104%
127%
126%
...1984
3%s
a<yi mtge 3%s series P
Peoples Gas Light & Coke 5s.
Peoria
104%
105
131%
128%
124%
1968
...
D
series
104%
106 Va
107
106% 106%
106% 106% 106%
130 Va
129% 131
1981
B
General 4%s series
106%
106
129
1948
bonds.
„
4%s series A
General
105%
128%
106% 107
106% 106%
127
128%
106%
I960
1965
4%s
77
83
70
76
64
65
64
69
60%
60
63
50
56
50
54,
40
141
101
103 A
102%
»
.
77%
65
68
62%
66%
63%
69%
50
36
40%
40
40%
34%
40%
142
Peoria & Pekin Union Ry 1st 5%s_1974
106%
107%
106
104%
106%
105%
107
Pere
104%
105%
105
105%
104%
105%
137
139
139
139
141%
141%
141%
142
131
106%
104%
132
133%
134
134%
134%
135
135
135
135
135
135
135
135
108%
106%
106%
105%
106%
106
106%
106%
107%
107%
108%
108
108%
106%
106%
107
107%
107%
108
107
107%
105%
105%
105%
106%
105%
106
103
104%
103%
Marquette
Ry 3%s D
1980
i
Phila Bait & Wash—
'(V;General 5s series B
General gold 4%s series C
Philadelphia Co 4'As.
Phila
Electric
1st
&
1st
1st
ref
3^77
1961
_
2%s__1971
mtge
&
ref
debentures
of
»Cons gtd
Cons
gtd
mortgage
Mtge 3%s
105'A
102%
103%
104%
104%
105%
105%
105%
1957
20
17%
18
17%
104%
117%
104%
105
__'I
106%
106%
106%
121%
121%
122
122%
122%
106%
128
131
134%
130
127%
128
130
130
131 %
132
132
132
132
136 Va
138
133
121%
133
126
130
138
139'/a
139%
109
105%
108%
106
137%
137%
138'A
106
104% 105%
139
105%
10S%
138%
142
136%
137'/a
137%
137%
135%
136
129
106%
105%
106
106%
106%
106
106%
] 05
102
103 '/a
102%
102%
102%
102%
102'/a
103
102%
104%
99%
lOO'/a
100
101
lOO'/a
101
103%
103%
104%
102%
104%
102%
104%
1047/8
104%
104%
105
100
10*%
106
105%
106
105%
105%
105
104
105%
104%
105%
105%
104%
105%
104
104
103%
104%
104%
105%
103%
104%
103%
103%
103%
105
102%
103%
104
104%
105%
106
104
105 »/4
102%
103
103%
104%
104%
105'/a
93%
98%
92
90
98%
101%
100'/a
102
100%
102'/4
100%
102'A
99%
100
102
103'/a
101%
102%
92
101%
98%
101
100 '/a
102%
101
101%
101
102'A
99
100
101 Va
102%
101
102%
90%
101
91
91
88'A
90%
90
101%
102%
90%
98
88
90%
88%
91
89%
4s A.1948
98%
101 Va
100
102
105
99
101
101%
102
.1966
106
106%
106'/a
106%
105%
100
lOO'/a
102 '/4
105%
105
100%
101
32
40
39
45
1956
106%
104%
104%
127
127
100%
102%
105%
105%
42%
108%
160
108%
110%
108
162 y2
162%
165
250
250
250%
39'A
45%
4p%
250%
—
101
105%
108
38
40
110%
111
109'/«
109'/a
99%
100 Va
105%
105%
23%
108
111%
112%
111%
"108
109
109 %
109
109
165
165
165
164
tl67
109'/a
112
18
109%
109'A
109'A
109%
107'A
109'/a
108'A
163%
tl67
251%
251'A 251%
251'A
104%
104%
104
104%
104
103%
103%
104'A
105
-
105%
91
91
103
127
100
92%
103
103%
127
101
103%
127
100%
103%
103%
127
102
112
105%
100
103%
105%
105%
113
39
160
3%s
102 »/4
101%
100
98%
107
113
—1977
4s_:
101%
127
1962
1957
125%
104'A
108%
105%
101%
105'A
102
101
102%'
102'A
107%
108
107'A
107%
t>>,
Quaker Oats 2%s debentures.
D—
ser
1964
104% 105%
104%
1995
107%
108
107%
105%
v
1975
,»
'
Saratoga—
(4.7%
for 1945)
Revere Copper & Brass 3%s__;
Western
Rochester Gas
& El
107%
103
104
104
104
104
104
104'A
104 y4
102%
104%
gold 4s__1939
1st
107%
113%
109%
115
107%
103%
107
109%
107
107
A
1949
78%
87%
77
78%
D
1977
& coll trust 4s
cons
103%
103%
refunding mortgage 3S...1972
refunding mortgage 5s
2037
1st & refunding mortgage 8s
2037
1st
123%
102%
103%
&
Rio Grande
123'A
122%
104
108
&
106%
104%
112%
Gen mtge
129
104
108
Rensselaer
103%
118'/a
123
103%
111%
Reading Co 3%s
134'A
133%
104
111%
•» jVi~!
102 '/4
125
120%
103 »/4
102'/a
109
'
129
129
125
118%
125
104
103%
103
133%
141%
110%
t
118%
132
135
110%
' H
126
127%
128
1968
1
125
105%
105%
105%
137
1st
'
12
11
103% 103%
90
1960
..
Gas
10%
11
103%
1958
deb 4s
&
10'/2
103
1959
3%s
1st
104%
127%
&
Elec
103%
122%
104
126%
__
100'A
105%
12%
10
10%
102%
123
1st
Public Service
17
18%
105%
__
117%
9%
22%
105%
123
"
—
105%
—1964
Power
Terminal
20
1964
__r
Providence
21
107
1st 4%s
3%s
18%
1975
Pitts Youngs & Ash 1st gen
1st general 5s series B
Securities
22 Va
1975
1970
1950
Providence
18
103%
106'A
25
107%
104%
106 'A
21 '/a
£
1964
mortgage 4%s series B
1st mortgage 4%s series C
Electric
103%
106'A
26
"E"
series
5%sr_*
105
106
22
126%
133%
134%
5s series
& West Va
106%
.I960
3%s
Chem
1st mortgage
105'/a
104'/2
103 %
•1st
Potomac
104'A
105'A
105%
{{'I 4%s series B—
Co
105%
104%
103%
Pittsburgh Consol Coal 3>%s debs._l%5
Pittsburgh Steel 4%s
1950
Pittston
104%
105%
1962
gold 4%s series J
mortgage 5s series A
Pittsburgh
105%
105
105
1937
gold 4s series H__
&
104%
107
104
gold 4s series G
General
Coke
106%
107
deposit
General
Pgh
104%
107
106%
^ ; Cons gtd gold 4%s series I—.1963
General
102% 103%
104'/a
106%
Phillips Petroleum 2%s__
1964.
Pittsburgh Cinn Chic & St Louis—
#5 Cons gtd gold 3%s series E
1949
vA, Cons gtd
102%
106%
106%
104% 106%
20%
f 4s
s
142%
'l'OB'A 106%
104%
1974
1963
;
Philippine Ry 1st 3®-yr
Certificates
98%
142
103%
1967
2%s
mortgage
refunding 2%s.Philip Morris Ltd debenture 3s
3s
107%
• ;
4%s
ser
ser
iyb0
81
86
75
79
125%
...
72%
75
125%
Rochester Gas & Elec—
General mortgage 3%s series H..1967
Gen
mtge 2%s series I
General
1967
mortgage 3%s series J..1969
Rock Island Ark & La
Power 3s
ser
109 y8
109'/a
74
65%
72%
1949
18%
20%
18%
20y«
1941
22%
24
21%
23%
—1971
A
# 1st mtge 4%s.
103%
1934
gold 5s
1996
95
1st 5s stpd—1955
100
6s—....
1950
Certificates of deposit—
Prior lien 5s series B—
/
Certificates of
deposit
.1959
mortgage 4%s series A
1978
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1st mtge 4s ser A .wi
...
1997
2nd mtge 4 %s ser A wi„._
2nd
1st
gold
4s
inc bond
General
&
refunding 5s
For footnotes
see
page
1st 4s__1989
ctfs
terminal A unifying
18%
18%
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102
98
97
61
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TKwSdayrJanuify'2^;i94^
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101.17
103.22
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103.7
103.27
103.15
103.9
103.7
103.27
104.7
109.8
106.20
103.8
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5
>102,28^
;
101.22
101.24
—
T •-
i
102,28
■i
101.7?
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:
:
„
101.7
t
V101.3
102.25,:
102.25
•101.3i
/
>
"I 4, v'
_______
Close——
-
;
;
101.10
___
-
101.22
101.22
102.20
101.22
101.24
November—
_
: Si.-
:
v
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103.15
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-
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•
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103.15
102.12
106.15
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-
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■"
103.22
103.11
■
102.12
.
—
■
103.22
103.11
102.20
___
_____
102.23
102.20
j.iJj
i' Close j..-....'.,..,—.
101.22
101.22
101.24101.24
102.1
i 102.1
101.21
101.16
mrnm**
'
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Close—^.v—.j_j___j._j.__
»
iii- December—.
Opening—...
■.High
Closer—______________
.
-
,•
f
ii: 1
v*'
'
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102.20
101.22
101.20
-
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-
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101.30
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April—
:g|; May—.
1
1950 »
101.IT
101.30
104.27
104.15
104.14
106.20
104.28
^
lVatl
1948 '
'
104.10
104.16
—
i
101.30
•
104.27
•
104.14
104.9
104
___
104
,v
l3is
2s Dec.
i ,104.12
104.17
103.30
103.3 !
,
Treasury Treasure
-
2s June
104.17
104.14
103.9
104.1
,js
1952-54 * 1952-54 <•
103.30
102.20
109.15
104.28
106.16
.
v:
:
103.27
101.4
109.15
103.15
—
4
103.7
1951-53
102.13
102.18
104.20
106.16
Close-u j——i—
i
Treasury Treasury
2S
2S >"•'*
Sept.
1950-52
100.29
102.8
109.8
-405.30-
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■
2s
107 -"'
107
.104.30
T; 105.30
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g
Treasury
106.25
'
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103.18
w
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1949-51
104.1
103.29
,
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1949-51
101.4
103.28
106.1
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sin 'June—
Opening.
Treasury
2s June
2s
1947
1959-62
1959-62
108.30
106.1
r
High.jjj.'——
;
Treasury
2J/»sDec.
2V4S June
2V4s
1956-59
103.16
104.20
.
Lowi.-_—-— _■
..
Treasury
Treasury Treasury
106.25
1954-56
103.3
103.29
104
♦104.15
■-
Opening.^
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Treasury
101.16
<
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v
l-i February— ;
.
108.30
103.6
♦104.15
107.5
—
2 Vis
2VbsJune 2y2SSept. ■2VzsDeoJ
1951-53
1967-72
1967-72
1967-72
,
102.11
•
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High
v
•
104.19
_
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;
♦104.15
107.5
«.—«.
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Treasury
1966-71
102.11
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:
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4562
t
JM
;
yi.
; '
J
TRE COMMERCIAE &:FINANCIAL: CHRONICLE
,,
Daily Average Crude Oil Production for Week
Ended Jan. 11,1947 Decreased 117,850 Bbls.
The American Petroleum Institute estimates that the
daily aver¬
age gross crude oil production for the week ended Jan. 11, 1947, was
4,530,900 barrels, a decrease of 117,850 barrels per day from the pre¬
ceding week and 39,850 barrels per day less than in the correspond¬
ing week of last yeari The current figure also was 109,100 barrels
below the daily average figure of 4,640,000 barrels estimated by the
United States Bureau of Mines as the requirement for the month of
January, 1947. Daily production for the four weeks ended Jan. 11,
1947, averaged 4,650,200 barrels. The Institute's statement further
shows:
521
Red Cross Fund Goal Set
Trading :oh New I Ybrk Exchanges 1/9
The Securities and
15
Exchange Commission made public
on
During the month of March the
American Red Cross will conduct
Jan.
campaign to raise $60,000,000
1947 goal, Basil
O'Connor, or¬
ganization Chairman, announced
figures showing the volume of total round-lot stock sales on the
Stock Exchange and the New York Curb
Exchange and
its
New York
•;he volume of round-lot stock transactions for the account of all
members of these exchanges in the week ended Dec. 28, continuing a
series of current figures being published weekly
by the Commission.
Short sales are shown separately from other sales in these
figures;
barrels of
gasoline; 2,001,000 barrels of kerosine; 5,820,000 barrels of
distillate fuel, and 7,801,000 barrels of residual fuel oil during the
week ended Jan, 11, 1947; and had in storage at the end of that week
96,547,000 barrels of finished and unfinished gasoline; 15,790,000 bar¬
rels of kerosine; 54,788,000 barrels of distillate fuel, and 51,423,000
same
transactions) totaled 1,622,770 shares, which amount was 14.78%
on the Exchange of
5,490,310 -shares/ This
with member trading during the week ended Dec. 21 of
2,343,972 shares, or 15.61% of the total trading of 7,506,960 shares.
the District of Columbia
Of the total transactions
On the New York
ended
Dec.
total volume
28
•'
Total Round-Lot
Stock
CRUDE
Curb
^'L'K-■
'V
Sales
the New
on
Transactions
York
for Account
4 Weeks
Week
from
Ended
Ended
Jan.11,
Previous
Jan. 11,
1947
Jan. 12,
194G
1947
48,200
8,400
•♦Ohio—Southeast
'
Illinois
*
/■"'/■
209,090
...
...
Kentucky
Michigan '
:28;000
."46(000k
_
of
•
t
..
500
•r+550
.
...
*270,000
-.Oklahoma
- -
......I.—'
/*Texas^//-/~
-
375,000 «'•' v362/400
District
C
412,150
206,500
V
950
•
34,000
27,600
~
District VIDL
; District IX
+
,
■
•Total sales-
483,120
Short sales..-
2,700
•'79,580
34,300
50
*
t.ij
r
-
v.-*.-
118,100
y '■ -f\
"x
*
\
*
81,450
•
195,030
i7j400 "
Texas,
2,030,000 41,92?,422
,
:
.
^
/ -.V-H/r.-' ••
'
-•
94,750
313,650
+
250
-
311,500
78,700
288,850
405,600
367,550
94,100
"'
+'• 1,900'
,
+
2,150
679,880
Total Rodnd-Lot Stock Sales
Transactions
on
for
the New York
Account
Curb
of• "Members*
:
-•
76,060 ,
62,600 '■
*2,60098,000 '
—.
Mississippi
Alabama
♦
-■
New Mexico—8o. East)
61,909
73,600
77,300
85,300
650
950
800
300
102,650
450
400
+
1,200
102,300
+
1,050
22,200
94,700
19,500
—
1,550
2,900
38,250
21,100
876,450
1946
500
103,000
109,000
—117,850
4,650,200
4(570,750
400
93,000
Montana
V
-24,000
ColoYAddr -£.2^:.?^'
101,200
22,-600
J;
"
36.150
'33,ooo
California
Total United StAteS-
870,300
'-'§842,000
838,000
4,640,000
4,530,900
~
—
~
97,900
For the year^to-date/ shipments
reporting identical mills were
Exchange ani Rtock'
(Shares) / :
:
'
~
of
34.1 % -above production; orders
43.2% above production^ ir ;
•
were'
Compared - to the average 'Cor¬
responding-week " of : l935-i93^
production .of reporting mills was
1,617,470
Total sales.
,
1,638,390
8. Round-Lot Transactions for Account-of Members:
23.3%
above;
shipments . were
above; orders were 31.2%
above; ((Compared. to C the corre-.
1. Transactions ef specialists in stocks in which
they
are
registered-
Total purchases.*..
Short sales
29.9%
.. .
...
135,805
r
12,700
tOther sales
Total sales
spending week in 1946, product
115,830
128,530
tion of reporting mills was 16.8^
above;" shipments ( were
20.2%
above; and new orders were;28,5.%
:8.06
2. Other transactions initiated on the floor-
•♦Pennsylvania Grade (included above)—
62,300
—
63,050
60,700
1,200
Total purchases.
Short sales—ww.^..
tOther sales
,i'::;:VfrbeSe Ar^ Bhreau
A'-
of Mifies calculations of the requirements, of domestic crude oil
uptfh certain premises outlined in its detailed forecasts.
They include the
condensate that is Moved in crude pipelines.
The A. P. I. figures are crude oil only.
As requirements may be supplied either from stocks or from new production, con¬
templated withdrawals from crude inventories must be deducted, as pointed out by
the Bureau, from its estimated requirements to determine the amount of new crude
to
be
Hi
>5
CRUDE
"
'i
TO
RUNS
AND UNFINISHED
/
PRODUCTION
of California Oil Producers.
,
.
OF GASOLINE;
.of Mines basis
District-
$Stks. of JStks
and
at Ref.
$Stocks
Gas Oil
of
Unfin.
of
& Dist.
Resid.
Fuel
Fuel
Oil
Oil
Inc. Nat. Gasoline
Blended
Kero1
sine
Stocks^
1—-—
701
83.6
1,950
20,341
7,498
19,297
76.3
70.6
309
389
511
294
65
104.8
232
2,599
1,041
49
100
196
_
"
ind., HI., Ky.—
87.4
773
88.9
2.707
18,340
1,524
5,243
Okla., Kans., Mo
78.3
381
81.2
1,402
9,201
879
2,248
3,761
1,191
Inland Texas
59.8
217
i 65.8
971
3,815
324
478
747
3,464
14,924
2,705
1,106
5,200
1,469
168
1,999
250
35
108
16
Texas Gulf Coast_—
89.2
1,210
98.7
Louisiana Gulf Coast-
97.4
338
105.3
No. La. & Arkansas-.
55.9
61
'48.4
•
10,166
6,742
3,935
2,059
511
123
33
43
84
428
557
,603
11,838
27,612
; 15,790
54,788
51,423
'
>.
Rocky Mountain—
>
76.9
•
California
S.
<
70.9
,124
75.2
399
85.5
Other Rocky Mt.—
U.
797
,80.2
2,185
2,136
16,843
85.8
4,778
86.0
14,928
*96,547
i
.
of M.
B.
1947*
Total tJ. 8. B. of M.
basis Jan. 4, 1947—
Total U. 8. B. of M.
Jan. 12, 1946.
85.8
-
4,917
( 4,449
88.5
15,281
1194,882
-
16,745
58,034
53,285
13,640
t99,882
9,582
33,246
38,256
unfinished gasoline stocks of 8,197,000 barrels,
11ncludes unfinished
srasoline stocks of 8,251,000 barrels.
tStocks at refineries, at bulk terminals, in transit
and in
nice lines
§In addition, there were produced 2,001,000 barrels of kerosine,
«; a90 nnn
barrels of sas oil and distillates fuel oil
and 7,801,000 barrels of residual
oil
barrels
in the week
and 8 375,000
5 380 000
5
ended Jan. 11, 1947, as compared with 2,024,000 barrels, 5,857,000
barrels, respectively, in the preceding week and 2,116,000 barrels,
barrels and 8,369,000
'ilRevised
182,215
12.87
odd-lot
accoiitt^
speciair
sts who handled odd lots
fovathe
ing published by the Commission^
The figures are based upon re¬
70,973
63,679
ports filed with the Commission
py
•The term "members" includes all regular and associate Exchange
members, their
firms and their partners, including special partners.
,
tin calculating these percentages the total of members' purchases and sales is
on
the Exchange volume includes only sales. V,,
tRound-lot short sales which are exempted
from restriction by
Exchange for the
reason
§Sales marked "short exempt" are included with "other sales."
the Commission's
.
The Census Bureau at
(vj
FOR THE ODDLOT ACCOUNT OF ODD-LOT DEALERS'
AND SPECIALISTS
ON THE
N.
Y.
,
•/STOCK EXCHANGE
/
lint and 262,862 bales of linters
on hand in consuming establish*
of
barrels, respectively, in the week ended Jan. 12, 1946.
downward in Rait Coast .area 162,000 and upward in.
jrarrel^dtte; W^^rror
Appalachian
coxhpani. v/, ^
(District
In the five months ending Dec.
lint and 44.169 bales of linters on
*11
1Q45
For Week
'
shares—.
of,'cember,; 1945.
24,711 "
712,019
Dollar value
$26,446,216
Odd-lot Purchases by Dealers—
(" /
(Customers'sales)
Number of Orders;
Customers'
'.157
20,755
short, sales
•Customers'
other
sales
Customers'
total
sales
20,912
Number of Shares:
Customers'
short
sales
♦Customers'
other
sales
Customers'
total
sales
6,285
;
619,417
625,702
Dollar value..
$20,825,622
Round-lot Sales by Dealers—
Number of Shares;
'
Short
-
sales.—......w.wu—
tOther sales.——
Total
_
.were -2,226,832 bales
•
184,170
_»
:-;
There were
31, cotton consumption was 4.256,21,688,028 cotton
827 bales of lint and 402,390 bales spindles active during December,
of linters, which compares with which- compares with 21,524,396
3,593,812 bales of lint and 419,032 cotton spindles active during No¬
bales of linters in the correspond¬ vember, 1946, and with 20,649,411
ing period a year ago.
active cotton spindles during De¬
mg period a year^gO.
. j
Jfheue
^
"f
Total'
(Customers' purchases)
Number of -orders
:
Number
,
Jj.s
x
Week Ended Jan. 4, 1947
^
Washing¬
ments on Dec. 31r 1946, which
ton on Jan. 17 issued its report
compares with 2,105,694 bales of
showing cotton consumed in the lint
and 199,247 bales of linters on
United States, cotton on hand -and
Nov. 30, and 2,378,863 bales of lint
active
cotton
spindles
in
the; and
258,412 bales of linters on
month of December.
Dec. 31, 1945. T;
f '
'
In the month of December, 1946,
On hand in public storage and
cotton
consumed
amounted
to at
compresses, on Dec. 31, 1946,
774,172 bales of lint and 79,352 there were 5,985,625 bales of lint
bales of linters, as compared with
and 73,649 bales of linters, which
773,180 bales of lint and 82,321 compares with 6,212,240 bales of
bales of linters in November and lint
and 60,507 bales of linters on
651,931 bales of lint and 87,680 Nov; 30, and 10,518,749 bales of
December, 1945.
^p'dr
STOCK TRANSACTIONS
that
•
the odd-lot dealers and
Cialists.
rules are included with "other sales."
Dec. Cotton Consumption
the
on
week ended Jan. 4, 1947, continu¬
ing a series of current figures be¬
0
70,973
the
of complete figures
for
! Slew York Stock Exchange
Specialists—
{Customers' other sales.
bales of linters in
♦Includes
?uel
:
Total sales
summary
ransactions
of all odd-lot dealers and
168,315
C. Oddd-Lot Transactions for Account of
Exchange
.
10
19.0
Mexico
basis Jap. 11,
i
13,900
JOther sales.
and
Securities
showing the daily volume of stock 1
239,620
8,098
101
84.7
District No. 2
Total
3.30
a
Odd-Lot Sales by Dealers—
99.5
—
Appalachian-—
New
Total purchases.
Short sales
compared with twice the total round-lot volume
§Gasoline fFinished
Crude Ru:
to Stills
Capac> Daily
Report'g
Av<' erated
% Daily
Refin'g
■:-y
33,685
15
(Figures in thousands of barrels of 42 gallons each)
Bureau
t- District No.
(The
Commission made public on Jam
4. Total-
Total purchases.
this section include reported totals plus an
estimate of unreported amounts and are therefore on a
Cast Coast
Total sales
Total sales.
OIL, WEEK ENDED JAN. 11, 1947
Figures in
■f.
200
33,485
Customers' short sales
OF FINISHED
STOCKS
GASOLINE, KEROSINE, GAS OIL AND DISTILLATE FUEL,
AND RESIDUAL FUEL
j
I
mem
NYSE Odd-Lot Trading
74,440
Short sales
on
were
STILLS;
<Ql
1.51
1947.
and
which
§Recommendation of Conservation Committee
'
,
allowable as of Jan. 1 calculated
exemptions for the entire month.
exempted entirely and of certain
ordered for from 9 to 13 days, the entire state
the net basic
shutdowns
fields
29,375
1,000
19,000
20,000
.....
tOther sales
a 31-day basis and
With the exception of
other fields for which
shutdowns were
was ordered shut down
lor 9 days, no definite dates during the month being specified; operators only being
required to shut down as best suits their operating schedules or labor needed to
operate leases, a total equivalent to 9 days shutdown time during the calendar month.
fThis is
Includes
several
-
3. Other transactions initiated off the floor—
TOtal purchases.
produced.
tOklahoma, Kansas, Nebraska figures are for week ended 7:00 a.m. Jan. 9,
<•*-
Total sales....!
reporting
,
14.78
20,920"
tOther sales.
830,000
+
—
mills
rate and gross( stocks are
eqviiyaT
lent to 36 :days' production, f
;K/j;
llf
53,600
—
*
Mexico—Other-j
New
50
3,950
+
.72,900
88,000
v-b
Total for Week
Short sales.
Arkansas
•
.
776,320
•
these
mills, unfilled-prders; are equivalent: to '24/
days' production- at the current
96,440
A. Total Round-Lot Sales:
of
mills,.,amounted to 64% of stocks. ?
3.70
846,450
:
WEEK ENDED DEC.-28,
408,400
382,000 ;/ 446,426
..i;,
orders
39.2% above production. TJnr
For reporting softwood
Total sales
2,000,800
production; for t/the ' Week
new
filled order files of -the
-
;
tOther sales
—36,850 "i 1,973,050
1,931,600
were
203;520
•
■■■;.
Total
week
210,920
■;
-
Total pUrchasesShort sales—
^487,200
150
550
•
■
...
.
Total sales.
•
4. Total—
27,650"
;
Association,
eDdiu^:Jan/;ll^'19^rJh
1
1
"
■'
;
1.66
82^280
....
Shortsales^__(
99,400
,
Manufacturers
lumber shipments- of < 371 mills re? - :
porting to the National Lumber
Trade
Barometer
were
15.2%
100,110
:
tOther sales..
-300
+
ber-
9.42
tbe floor-
on
Total purchases..
3
1
According to thie National Lumr
396,780
2. 0ther transactions Initiated
310,600
82,050
15.2% Above Production
;86,340
,.
above
—20,000
464,700
j,
-
—
,
Weekly Lumber Shipment^
551,310
■
Total sales..,
8,550
50
hospitals^
veterans'
"cooperate who 1 eheartediy
ihrough the creation of an effeeti .^e. organization for. the solicitor
ion "of their gifts."
v
^
^
i
%
3. Other transactions initiated uff tbe floor—i
:
Total purchases....
208(000
-34,300
550
—.
118,250
—
District X
1.350
—
and
! President Truman called upon all
departments of the government to
18,950
"*
—
l^av^
t %.
Odd-Lot
tOther sales
134,200
418,900
—
33,"700
;
Dist.- VI
.
•
.
Short sales
391,050
1
.—'6,000
.
•
'/.District VD-B
District vn-c_
f
365,900
-
150
—
3C1,000
99,450
Other
750
+
•
133,100
\ :i
.
//-.
(
of
-I
uniform,
well as "millions of veterans,"
and "tons of thousands" in Army, (
as
'■
-
of IMembers,
•fOther sales.—
/ East Texas
•
Account
Accounts
they are registered—
"
Total purchases
249,200
.
8,700
—
"19,100
'*>'•
1. Transactions of specialists In stocks in which
'
*//. ; District II
^
r.r District HI
/-District IV__^..__.-
-
lor
for the Odd-Lot
DealersnndSpecialists:
47,100
650
251,050
—70,600
1355,800
.
•
"
29,800
.42,150-
'\f *
5,490,310
Transactions
Except
,
V
119,090
5,371,220
,
Total sales
B. Round-Lot
,••/?**
*
'
numbers of men" still in
1946
tOther sales
207,450
29,950
-
150
—
1169,900
//"£ District I
:
3,150
15,450
500
+•
.
4,750
.2,300 ^
118,000
198,450
300
—
42,700
-
8,200
•
5,350
250
'
29,650
•
50
.
1,600
2,200
--
195,350
'
//Kansas
.•
+
—
28,
'
^Nebraska
;
250
17,250
-
7,450
—
5,600
19,000
"250
50,100
•/ 100
47,900
.
2,100
;
1,000
—
250
7;40C
7-600
J
—
:u.
-
Week
.
49,300
.
£hio-Other
idiana
Change
Pointing out that the Red Cross
aiding in the care of "large
was
Exchange and Round-Lot Stock
Members* (Shares)
Total for Week
Short sales
Week
ment divisions.
Stock
A. Total Round-Lot Sales:
Ended
Florida
V ♦•West Virginia
BARRELS)
Allow¬
■j
.
Requirements •Begin.
January > '.-Jan. 1
York-Penna..
IN
ables
*B. of M.
Calculated
•♦New
(FIGURES
Actual Production
State
i
v
PRODUCTION
OIL
Mr.
amounted
that
on
area.
£rug is expected to name 80- de¬
partment Chairmen to head eamv
paign activities in major govern--
Exchange, member trading during the
to 421,835 shares, or 12.87%, of the
Exchange of 1,638,390 shares.
During the week
ended Dec. 21 trading for the' account.of Curb members of
656,530
shares was 16.51% of the total trading of 1,987,745 shares.
week
WEEK ENDED DEC.
AVERAGE
day President Trumaii;
Secretary of the Interior
named
Trading on the Stock Exchange for the account of members Julius A.
Krug to head the Govt'
(except odd-lot dealers) during the week ended Dec. 28. (in round- ernment unit
of the campaign iri
lot
barrels of residual fuel oil.
DAILY
Washing^
ton Associated Press advices. The
compares
Reports received froth refining companies indicate that the in¬
dustry as a whole ran to stills on a Bureau of Mines basis approxi¬
mately 4,778,000 barrels of crude oil daily and produced 14,928,000
Jan. 9, according to
on
*
'
:
>'•' ••''
sales...
184,170
.......
Round-lot Purchases by Dealers—
Number of shares
/ ♦Sales marked "short exempt'
ported with "other sales." /:
tSales
to
offset
customers'
ders, and sales to liquidate
which is less than
a
a
225,710
are
re-
odd-lot
or¬
long position
reported
round lot are
with "other sales."-- - I. _.:>;.;;: j
-
y~;
522
THECOMMERCIAL.&"FINANCIAECHEONICXE
<
. both were .reflected
higher- prices';.:'f<^c6Mi?an^
New contract prices for domestic woodpulp were substantially.
(Continued from page 495)
The total production of soft coal in the week ended Jan. 11, 1947, higher reflecting increased foreignlprices. /Silver nitrate and menthol be 91.8% of capacity for the week
as estimated by the United
States Bureau of Mines, was 13,700,000 prices declined. Prices of tables: advanced and manufacturers of beginning Jan; 20,1947, the high¬
net tons, which compares with 11,350,000 tons in the preceding week other furniture raised some prices to restore prewar differentials be¬ est since the week of May 21," 194$
and 11,600.000 tons in the corresponding week of last year.
The cur¬ tween price lines. Textile prices; dropped slightly because of lower When the rate was 92.9%, Thii
rent figure was higher than any week recorded for 1946, although quotations for raw silk, and. hide quotations continued to decline.; Gn week's rate compares with. 91.2%'
output passed the 13,000,000 mark six times during the year.
The the average prices of commodities qther than farm products and foods one week ago, 72.8% one montii
total output for the calendar year to Jan. 11, 1947, was estimated at were 1.7% above mid-December and 24.1% above a year ago."
ago and 5.1% one year ago. This
20,500,000 net tons, an increase of 1.6% ever the 20,180,000- tons prq-p
In view of the fact that ;the figures for the week ended Jan. 4 represents an increase of 0i6 poinf
or 0.7% from the previous week.
duced from Jan. 1 to Jan. 12, 1946.
have not heretofore been given in > these columns (the last to appear
Production of Pennsylvania anthracite for the week: ended Jan.
The week's operating' rate is
having been those for the week ended Dec, 28—given in odr Jan; 16
equivalent to 1,617,900 tons of
11,1947, as estimated by the Bureau of Mines,, was 1,215,000 tons, an issue>
page 328) we note here that "lower prices for farm products
increase of 333.000 tons (37.8%) over the preceding week;
When and foods more than offset advances for non-agricultural commodities steel ingots and castings and com¬
compared with the output in the corresponding week of 1946 there to
pares with 1.607,300 tons one week
lower the general level, pf primary market prices 0.4%' during the
was an increase of 2,000 tons, or 0.2%.
From Jan. 1 to Jan. 11, 1947,
week ended Jan. 4." From the Bureau's report for the week ended ago, 1,283,000 tons one month agd
a total of 1,719,000 tons of anthracite was produced, as against 1,810,and 89,700 tons one year ago, the
Jan: 4, issued Jan, 9, we also quot^:
000 tons in the period from Jan. 1 to Jan. 12, 1946. ,, ?
„
low operating rate at that period
"This-::second consecutive weekly decline brought the index of
a
The Bureau also reported that the estimated production of bee¬
reflecting the stegl• strike. ^ • •'
commodity pricesrin: primary; markets, prepared by the Bureau to
hive coke in the United States for the week ended Jan. 11, 1947,
Electric. Production—The Edir
139.1 %> of the 1926 average, the same level, as four weeks earlier
showed an increase of 10,100 tons when compared with the output for
and 30.2% above early January, 1946. *'
"
\
" " &
; sbn^f^Eiectrie^^ Institute ieport^^^that
the week ended Jan. 4, 1947, and was 23,100 tons more than the cor¬
the output of electricity increased
"Farm Products and Foods—The decline of 1% in average mar¬ to
responding week of 1946.
4,852,513,000 kwh. in the week
ket priees of farm products reflected' lower quotations for grains, ended
ESTIMATED UNITED STATES PRODUCTION OP BITUMINOUS COAL AND LIGNITE
Jan. 11, 1947, from 4,573,-
TheStafeof Trade
Higher costs of. raw; .materials, vtranspor:tation< or.
Weekly Coal and Coke Production Statistics
■
board;
.
.
Jan. 4,
Jan. 11,
<5
JftB.*ItoGate
coal & lignite—
1
-
*
'
-tJan. 11,
1947
Penn. Anthracite—
fuel
coll.
incl.
•
1,215,000
.
20,180,000
1.998J10Q
•
848,000
1,166,000
108,200
95,200
raised by
Changes
Calendar Year to Date
Jan.
Jan. 16,
Jan. 12,
11,
lQH,;!,
4
1Q47
lQ4.fi
1,719,000
2,016,000
1,810,000
1,740,000
2,277,000
2,163,000
180,100
158,900
145,200
.
in:^rity;:^Raw/cdl^n:^botati^^
lowered prices for steers.' Most other
smaller marketings. On the average
shipments
Heavy
1.8% below early December and 26.5%
prices for parm products were
a
'
year ago.
/:
•
fV
,
:
r
"The deeline of 1.7% in the group indei^for foods, brought this
a level nearly 14% below the^peak of/mid^ctobers -Dairy
products declined 3;8% during ^
.(♦Includes washery
and dredge coal and coal shipped by truck from authorized
tions for butter; Flour prices moVed down opl cautious .buying jat pre¬
operations.tExcludes colliery fuels.
^Subject to revision. §Revised. llEstimated from
weekly carloadings reported by nine railroads.
vailing high priceSi Cured pork prices dropped reflecting adjust¬
ments in price relations between various types of meat. The group
ESTIMATED WEEKLY PRODUCTION OP BITUMINOUS COAL AND LIGNITE,
BY STATES, IN NET TONS
, index
for foods was 3.3% below a month ago and 44.8% above the
(The current weekly estimates are based on railroad carloadings and river ship-, first week of January,
JL946;(gfc;/.\. ; •' , . !'
U' v7 •.
ments and are subject to revision on receipt of monthly tonnage reports from district
"Other Commodities^Ayeragerprices' Of all commodities other
and State sources or of final annual return from the operators.)
-Week Ended——
than farm products and foods advanced 0.2% during the week with
Jan. 5,
Dec. 28,
Jan. 4,
small increases in most major commodity groups. Paint colors con¬
19461946
f
1947
Statetinued to rise in price and additional mills reported higher prices for
331,000
236,000
337,000
Alabama
Southern pine lumber and oak flooring. Higher prices for steel pipe
6,000
7,000
7,000
Alaska
32,000 reflected further advances
32,000
among steel mill products. 1947 price
35,000
Arkansas
122,000
164,000
151,000
Colorado
schedules carried higher prices for a number of chemicals which are
..•* 1,000
1,000.
1,000
Georgia and North Carolina-—...*
1,218,000 in short supply. Castor oil and copra advanced reflecting foreign buy¬
1,191,000
1,222,000
Illinois
445,000 ing and higher shipping costs. Raw silk quotations declined further
521,000
497,000
Indiana
42,000
27,000
30.00G
Iowa
owing to lack of demand for manufactured silk products at current
104,000
101,000
99,000
Kansas and Missouri—
948,000 high prices. Quotations for some; rayon underwear advanced subs
778,000
1,147,000
Kentucky—Eastern
398,000 stantially following higher prices for rayon. Manufacturers' prices
313,000
377,000
Kentucky—Western
■r.-r
Beehive Coke—
:
118,300
total
flUnlted States
Jan.
prices, that
wools
period one, year ago.
the Commodity Cre<ht; Corporation: in accordance w^h
Consolidated Edisoit Co,q{ New:
livestock advanced, owing to
above
the preceding
week ended
11, 1947, was 16.6% above
for the corresponding weekly
in
kwh.
807,000
week. Output for the
Light supplies were responsible for higher, average
Sweetpotatoes advanced. Selling prices of domestic
market.
for lemons.
were
<•>,
produc. 1,168,000
fCommercial
(In Net Tons)
$Jan. 4, • Jan. 12,
1947
•
1946
882,000
1,213,000
more
market.
«———.—Week Ended--
'
♦Total
down
PRODUCTION OF PENNSYLVANIA ANTHRACITE AND COKE
ESTIMATED
%
"•
1946.
.
Total, including mine fuel-Daily average-,-——.-,
:
lowered egg pri|^mbre= th^
Oranges moved
than seasonally and pnionv prices, declined in a weak
decline in demahd
Jan. 12,
Jan. 11,
Jan. 12,
1947
: 1947
1946
1947
13,700,000 . 11,350,000 11,600,000 20,500,000
2,293,000 v t?,225,000
1,933,000
8^3,QQ0
•Subject to current Adjustment.
tAverage based on 5.1 working days.
1 Bituminous
;
freshfruits1 and vegetables. The post holiday
cotton, eggs and some
;
(In Net;Tons)
:-iiii'l'.Vi"''i'Week Ended*""1*""
index to
York
reports system
kwh. in
217,900,000
r
Jan.
ended
output
of
the
week
compared
-
12, -1947,
with
191,700,000 kwh. for the cor+
responding week of' 1946,: or an
increase of 13,6%. Local distribu¬
tion of ^electricity nmquhted
204,600,000 kwh. compared with
187,700,000 kwh. for the' eorresponding week of last year, an
increase of 9.0%/
';""
•
•
Railroad Freight Loadings—Car
of
loadings
the
totaled
tion
revenue
ended
week
830,945
cars,
American
of
freight for
1947,
the Associa¬
Jan/ 11,
Railroads
an¬
-
-
-
~
>
—
2,000
1,000
2,000
88,000
33,000
97,000
28,000
72,000
77,000
675,000
610,000
104,000
26,000
83,000
615,000
62,000
60,000
2,500,000
140,000
2,277,000
105,000
Dakota
2,000
1,000
120,000
117,000
(lignite)
Ohio
Oklahoma
Pennsylvania
Tennessee
Texas
(bituminous)——
—
-
(bituminous and lignite)—..
Utah
Virginia
238,000
383,000
_
•
300,000
28,000
1947
Percentages changes to
Jan. 11, 1947, from—
12-14
1-12
12-14
1-4
1-11
1947
140.0
Commodity Groups—
All commodities
1-4
1947
139.1
1946.
139.6
1946
139.7
1946
106.7
1947
+ 0.6
1-12
1946
+ 0.2
1946
+31.2
165.8
166.1
167.7
168.7
130.0
0.2
—
1.7
920,000
Poods
158.1
156.4
159.1
161.3
107.6
1.1
—
176,000
183,000
171.2
171.3
171.3
170.7
119.4
0.1. +
1,000
products—.
Textile products...—
.....
Fuel and lighting materials.—.
Metals and metal products
9,240,000
11,350,000
*
10,263,000
the N, & W.; C. & O.; Virginian; K. & M.; B. C. & Q.; and
Mason and Clay Counties.
tRest of State, including the
Mineral and Tucker counties,
includes Arizona and
Oregon. /*Less than 1,000 tons./ /•.;
tIncludes operations on
the B. & O.
in Kanawha,
District
and Grant,
products
—-—
Hides and leather
126.6
120.9
107.8
prices advanced 0.6%
previous peak reached three ;weeky earlier and 31.2%
year ago. The Bureau's advices covering the week- ended
made available Jan. 16, went on to gay;
v
t,
the
,
"
^
Paper and
a
This
+
1.2+14.1
1.1
+
1.0
—
0.8
+ 28.7
a;
.marked, increase
154-2
154.3
133.1
135.0
133.7
Four out of five of the
102.8
0.6
+
1.0
96,9-
+
occurring
+14.7
1.6
0.4
volved
134.1
134.5
134.4
133.2
133.5
133.4
101.5
+
0.9
+
0.7
123.9
122.9
100.7
+
0.7
+
1.7
+24.1
food
Dun
8.4 Other foods.;...
7.0
Furniture
„
~~
~
.
—....—__
—
.
''
'
$5,000
Food
—
Price
in+
//
or
.
Index
The wholesale
price index,--/compiled" by
& Bradstreet, Inc., moved
10-9ent drop in butter prices.
Strength in other foods lifted the
index for January
14 to $6.23,
from $6.20 a week previous. The
a
,. ■
n.
week
of
higher, ia the jpast ,week despite
CHANGES IN .SUBGROUP INDEXES FROM
.
failures
the
•
Wholesale
+32.4
124.1
during
liabilities
more.
+ 31.7
134.8
.9- rr
from
+ 40.2
0
119.0
153.1
135.9
•
the largest
failing in any
was
concerns
+'3r.9
1.1
0.4
6.31 Woolen And worsted goods..........—.5.1 Anthracite a'—
pvilp„—
; 2.9 Cereal preducts-ii^-i^—
...
Inc.
showed,
;■•••
" - v
-n.wvflT-.-w ^ •—
failures
since August of 1943. Twd
half times as numerous as
t~
125,0
.
com4
16,
the previous week's 37.
0.2"+
153.1
Plumbing and heating—* Cattle feed
-".-r-.f!-—»ft#?;**
Structural steel
January
industrial
and
+32.6
95.0
'.}
.JAN..4,.'1947.vTq; JAN. ,11, 1947.
e«.*n.
Coke-
107.9
96.1
120.0
107.7
+14.6
4.6
106.4
125.4
120.5
:
Slightly Higher
than
PERCENTAGE
U*-S.
above a
Jan. 11,
126.1
,
+
135.4
products an4 food&—
■■
1.3
Rising sharply in the
corresponding week of
wjhen 20 were reported, failpres hi the; tweek just en^ed alaa
than
+
All commodities other
duriniihe .week
according to the Bureau of Labor Statistics,
119.2
corre-r
1946
+'2.1 '+28.6
/
-
All commodities other
Department of Labor. At 140.0% ' of the 1926 average, the Bureau's
index of commodity prices fn primary markets was 0.1 % higher than
2.0
the
in. the
0,5+31.9
+
1.0
151.1
109.0
Farm
+
1.0
105.4
154.6
121.4
Manufactured products
Ended Jam 11, Labor Department Reports*
0.2
*85.5
156.1
126.8
Special Groups—
101.0
96.1
97.0
133.9
commodities———
Miscellaneous
132.5
97-0
134.2
Housefurnishings goods——,——
Farm products...
Average primary market:
week
+43.4
0,3
132.7-
133.3
133.5
98.0
Building materials
Chemicals and allied products
—
Wholesale Prices Advanced 0.6% in Week
133.2
135.5
158.1
Raw materials.,
—
Semi-manufactured articles-——
ended Jan. 11, 1947,
street,
2.0+46.9
1,000
Total bituminous and lignite—
Parm
.
—
ending
number of
and
1,715,000
.
above
totalled 51, reports Dun & Brad-r
+27.5
16,000
1,276,000
731,000
increase of
Business Failures Uptrend Con¬
mercial
(1926=100)
12-28
7.5%
or
week
185,000
(Other Western States
r
11,
GROUPS
948,000
Wyoming—
Panhandle
ENDED JAN.
WEEK
FOR
COMMODITY
an
sponding week for 1946. Com¬
pared with the similar period of
1945, an increase of 47,885 cars, or
6.1%, is shown. *
J
tinues
BY
PRICES
WHOLESALE
2,142,000
tWest Virginia—Southern.
tWest Virginia—Northern-
on
IN
20,000
Washington
cars
.
!
CHANGES
was
143,517 cars (or 20.9%) above the
preceding week which included
New
Year
Holiday and 58,057
and linoleum, floor coverings rose with higher cost of
linseed oil."
2,295,000
136,000
1,000
144,000
North and South
for felt base
52,000
1—
New Mexico—-
i'
39,000
50,000
50,000
Maryland
Michigan—
Montana (bituminous and lignite)
-
nounced. This
1.4
0.9
0 -7
...
■
/ 0.6
0.5
'
"2.6Dairy., products-^--—v—rr-v
0.5
Other building .materials__v+
4—
Iron and steel—2,0
0.5
Lumber
2.0 Other farm products—.*—
Petrpleum and products.,.—0.5
Grains
1.7
Nonferrous metals...—.———^
0.4
Fertilizer materials—1.5
:—0.4
Bituminous coal——
1-4 Shoes ——__——■
OA
>
, r ■
Cotton Goo^s
currait
figure contrasts with $4.14
at this time
-50.5%.,
0.5
Meats
a
-
year ago, a
:
rise of
Foods-i-Average market prices of farm
/
Daily : Wholesale
Commodity
products declined slightly (0.2%) with decreases for some livestock,
Price Index—Weakness in butter
poultry and fresh fruits and vegetables. Large shipments Caused cteand cotton; largely accounted for
creases for hogs and quotations- for live poultry and lambs
also
the. continued,decline in the daily
declined.;/Light receipts brought hicreases
other Kvestock.: AdWholesale commodity price index,
'vances for grains reflecting good demand ranged from less than 1%
Decreases
<
'■ ■
cqippUed by >Dun & Bradstreet,
for ryeto more than 5%/forOats, offerings ofwhich we?e limited. Silk
4^ Hides and skins
1
<
0.9 Inc. The index figure feil to 240.37
Prices of apples and citrus fruits declined with large supplies, Fruits and vegetables.——
1.9 Leather
0.3
Livestock and poultry.—1.6
Paint and paint materials..
0.1 pn January: 14, from 243.75 a ^eek
while prices of onions and sweetpotatoes were higher. Reduced ship¬
earlier. The current, level cbra-r
DEC. 28, 1946 TO JAN. 4, 1947 '
ments because of bad weather brought higher prices for eggs.
The
Increases
: ;
jpares/mth(::l82»72/Ui^yt^
^
t
^
*
•v
group index for farm products was L7% lower than a month earlier
i
Iron and steel
0.5 sponding date a year ago.
Rayon
and 27.5% above the corresponding week of last year.
:
11.9
0.5
Leading "grain markets.showed
i
1.2 Livestock' and poultry
"Food prices rose. 1.1 % during the week with, increases in all Lumber
Oils and! fats
—Z
•' 0.5
Other building materials^,—1.2
irregular movements during the
.0.4
;———
groups except fruits and vegetables. Prices of pork loins rose sub' Hosiery and underwear.
0.7 Cattle feed^.2_—;.J
v/
0.2 .past week,
stantially as demandcontinufed good, and mutton prices were up Paint and paint materials.———— 0.7 Drugs and pharmaceuticals—
With demand slow ehd/H heavy ?
Agricultural implements
0.1
16% with limited supplies. Prices of cured andsmoked pork de- bhemicals;-''^iiI-^/i^i-w^+^-.—9.6
Furnishings
9.6 Bituminous coal—c;———0:1 Accumulation of supplies over the
ciined. Dairy products and cereal products averaged slightly higher
Other" miscellaneous
0.1
weekend, butter prices declined
and coffee prices were up/ There were declines for cotton seed oil,
Sharply at both the wholesale and
5.ISI: Decreases
' ii'/' *•
dried fruits, lard and black pepper. On the average, food prices were
The
cocoa ,market
Meatk'^--^^-—
rfr-—7?+ - 'M retail level.
2.0%below mid-December and 46.9% above mid-January 1946.."/
Silk
-3 : Otbei. fopds*.^.^-i—- ■ M developed an. easier/tonei?as the^
-' "Other Commodities—Most other commodity groups continued to Fruits and vegetables...———.3.5 Grains ——
outlook
for
supplies
appeared
Other farm products—Fertilizer ;matcrlals^»^»¥
advance/ Further substantial increases were reported for a num
brighter. Market receipts of hogs
Cereal -products^—1.4 Nonferrous metals^,*/—9,1
ber of steel products as the industry continued its general adjust
Based on the BLS weekly index of prices of about 900
commodities' which last week totalled 560,700, head,
ment of base prices and extras. 5 Prices of pig lead reached an all-time measures changes in the general level of primary -market prices.
This index should against 392,800 the previous week
be distinguished from the daily index, of 28 basic materials.
For the most partf and
peak but silver prices declined with reduced demand. There were
527,700 for the corresponding
prices are those charged by1 manufacturers
or producers - or are those, prevailing
substantial increases in realized prices for some lumber products and on commodity exchanges. The weekly index i^s calculated from one-day-a-week prujes. period last 'year., The increased
in prices of plumbing and jheating fixtures.
Prices of bituminous It is designed as an. indicator of/^eek-to-week changes and should not be compared supplies met with good demand
coal and anthracite rose with increased freight rates effective Jan. 1. directly with, the. monthly index
"Farm
Products and
—
.
—— -
—
,
.
■
.
:v
—
——
—
_r
—■
-
—
—
-
—
.
-
...
.
•
•
*
,
_
t
■
>
-Volume? J65 SWtitebeft 4 i»6&
'
'withvprice^ rising; alr^st$^; per
hundredweight
-
THE COMMERCIAL A FINANCIAL CHRONICLE
Revenue
Freight Gar Loadings During Week
Ended Jan. 11,1947 Increased 143,517 CarsI
;1 previous
over
qu^tions^attle.and: Jamh;piar^
•kets'Were
;qulte;^steady durih^ tlie!
period.
%
!
:
Cotton .prices held fairly steady;
;
in the fore part of the week but
,
showed
in
a
closing sessions. The New
sage to Congress. Indications of
buyer resistance to present high
prices place further re¬
strictions on cotton futures trad¬
above the
preceding week, and an-increase of 33,400
corresponding week in 1946.
cars
Retail volume rose
above the
corresponding week in -1946.
-
In the
Ore-loading amounted
V
week in 1945 except
Week
of Jan.
Week
of
Jan.
Total
to
weather.
687,428
11.
•continued
despite
During this
increase
to
sharply
growing attitude of cau¬
among
many
buyers. New
a
volume
:
.
Federal
Reserve
Board's
in-'
•dex for die week ended Jam lli
-1947, increased by 24% above the
; same
period of last year, This
compares with an increase of 38%
! (revised figure) in the preceding
•week; For the four weeks ended
! Jan. 11, 1947, sales increased by
37% and for the year to date by
•
•28%.
Department store sales
i
••
last ■ year.:
''
in
: -; - -■
-:,
'
-
'••
•:
1
-the-wholesale garment mar4
buyersV; exhibited & .marked
; tendency toward selectivity In aPi
parel -purchases: .Textile "markets
] continued tight for spot deliveries
■
and blanket manufacturers began
opening their*1947 liheS. 1; "
0f {
}vAccording ilo; the :Federal Re?
•.
•
Bank's, index^ department
store sales in,; New York City f6V
the weekly period to Jam 11, 1947,
serve
increased
30%
■
above
the
same
period last year. This compared
.with an increase of 42%:inthe
preceding week., For the ? four
weeks
ended
Arbor.
ended; Jan. 1 l,;.l 947, sales
I rose 40*%' andlor;thef
year to date
increased to 29%.
•*. -r'"'*7?.'t
1946
357
372
1947
1946
1,505
2,151
7.361
3,270
7,601
6,314
1.362
1,108
1,210
Central
Indiana
to
16,133
Detroit
to
Toledo
Shore
Grand
Trunk
Lehigh
to
New
York
7,465
8,082
182
266
Central
1,601
2,265
313
367
11,796
11,336
3,140
3,726
2,177
3,701
14,911
7,296
147
167
2,295
1,700
1,596
8,395
7,274
7,322
3,336
10,694
1 3,570
4,375
3,770
2.435
Erie
'
:
:
43,928
52,470
14,591
750
724
803
1,902
5,906
471
6,015
13,080
386
2,617
13,597
1,137
7,360
4,973
7,306
9,087
615
*
8,129
6,794
796
726
33
8
5,393
►
?"
1,154
TV
k 291
i
9,497
257
904
■
.
14,632
2,046
292
97
253
869
907
387
350
1,994
1,311
6,500
5,944
6,175
1,961
1,222
11,418
5,675
4,685
5,286
3,437
3,677
155,302
146,377
201,039
Lake
$21
€22
790
40,716
40,572
'
.
2,822
1,631.
6,140
Jersey.™.™.
Cornwall
Cumberland to Pennsylvania.
•
243
72
70
W; 2,018
2,227
2,205
5,456
5,953
4,644
3,488
10,284
10,461
3,799
4,790
II,291
10
1,209
23,750
1,168
■'
385
2,122
85,889
63,605
58,102
24,560
26,012
9,258
24,532
9,368
3,353
>;-243;:
3,266
3,048
;
,
21,107
3,333
13,190
r 173
21,926
3,686
-
Missouri-Illinois
i
....
7L9
790
12,226
11,214
3,064
'
'
4,203
3,835
49
1,401
1,363
838
2,258
1,231
883
113
774
I,505
467
1,422
681
;
1,314
: 584
t
1,805
•
42
im9ax%
777
'■
836
3,015
1,819
4,523
,
486
138
,
599
20
4
4
o
Southern Pacific (Pacific)
Toledo, Peoria to Western.
28,843
26,933
31,005
10,049
306
42
Union Pacific System—
CJtah.__
18,798
1,050
17,644
18,599
12,773
II,200
1,854
2,058
3,127
rt,'.T5
2,879
134,638
127»718
76,317
'70,706
.
Total™
0'
30
?
Western Pacific
581
810
2,077
130,773 ~
9,074
„
Southwestern District—
;
4,580
5,221
2,026
2,227
2,021
1,214
2,424
2,172
369
^—...—.
International-Great Northern
353
1,258
3,311
——
——
475
342
371
199
Burlington-Rock Island
Gulf Coast Lines
6,451
.
2,760
•
1,351
,
'
.
2,153
2,975
1,769
4,553
2,648
3,330
307
2;377
1,205
1291
§
§
134
4,653
5,162
6,330
17,593
16,155
17,948
1,138
3,572
13,245
v
-V
463
2,485
3,542
1,449
3,014
2,246
306
.
-
3,710
13,462
107
63
203
102
St. Louis-San Francisco..
9,759
8,554
6,652
2,310
4,598
4,641
Texas to New Orleans
2,855
7,997
8,682
9,347
3,561
11,846
6,919
St. Louis-Southwestern
Texas to Pacific..
4,062
3,821
5,148
6,205
.5,632
60
44
177
Quanah Acme & Pacific—
Total
"
71
,
4,766
V
77
38
94
58,864
:
5,196
.
73,211
18
14
53,570
33
86
61,175
—
•Previous week's
figure.,..
54,096
..VV
,
^Includes Kansas, Oklahoma to Gulf Ry.;
Ada-Atoka Ry.
Midland Valley Ry. and Oklahoma Cltyi
Istrike.
NOTE—Previous year's figures revised.
'
Weekly Statistics of Paperboard Industry
We give herewith latest
figures received by us from the National
Paperboard Association, Chicago, 111., in relation to activity in the
paperboard industry.
The
members of this Association represent 83%
industry, and its
includes
program
a
total
of „the
statement each week ffom each
member of the orders and production, and also a figure
cates the
figures
which indi'?
These
that they represent the total
activity of the mill based on the time -operated.
are
advanced to equal 100%, so
Received
FRODXJCTION; »HLL ACTIVITY
Unfilled Orders
'
*171
16
.
91
V.'6
3,704-
1,780
4,308
1,899
1,922
55,648
24,207
57,089
25,793
4,303
3,177
4,180
3,925
10,538
11,801
5,713
.J
5,254
166,735
142,967
28,556
21,607
0:
169,988
605,059
99
161,534.
598,569
98
175,440
572,188
101
205.422
€01,787
613,752
580,331
102
96
101
:; 96
147,514
12,092
6,717
1,469
4,810
10,436
,
V
20,278
18,440
96
96
96
100
16
138,100
Nov.
23—..
145,507
170,533
554.982
100
96
153,574
162,353
>54(5,042
w
96
Dec.' 7.—
207,137
172,417
99
Dec. 14™.
167,937
175,640
578,742.
571,179
144,083
172,275
109,210
543,675
532,773
-142,338
178,043
588,406
85
580,026
102
Nov. 30
•
Dec. 21...
99,555
Dec. 28——™--.-™™™
Jan.
Jan.
(
'
1947-—Week Ended
102
96
;
;
96
102
*96
66
96
*
196,927
4
11—
NOTES—Unfilled
reports,
-
.
6,524
1,480
95
:
Nov.
185,047
9™--
171,420
orders of
-
ri
;
85
V 94
the prior week, plus orders
;
orders at the close.
CompenwUbn ford
from stock, and other items made necessary adjust
do not necessarily equal the unfilled
54,973
95
100
174,752
175,906
170,411
Not.
Nov.
:
69,138 $ v 54,550
619,581
158,170
155,589
52
18,682
21,491
172,354
155,140
17,241
14,292
J/ 27,805 :
223,117
5™.
48
v
Percent of Activity
Current Cumulative
.Tons
Tons
i'■-£ 1946—Week Ended
Oct.
19—.
1,566
Remaining
production
Tons-
12
75,465
165,941
Period
Oct.
14,738
27^801
;
3,408
2,276
1,654
North Western Pacific.
Oct.
17,811
'35,624
T
10,399
923
,911
Nevada Northern™.
Pocahontas District™
Norfolk to Western
11,446
980
367
28.
175,594
Chesapeake to
67
19,797
3,389
•
3,108
94
•
424
4,042
Period
Total
514
2,352
v
1,082
1,024
2,339
5
4,963
Total
Virginian
244
2,409
91,029
2,431
Denver to Rio Grande Western
17,187
18,742
Maryland.
4,604
121
1,899
153
«
758
6,090
1,590
1,798
74,327 V
81,118
14,867
1,421
22,289
1,678
2,190
1,604
•
213
56
(Pittsburgh).
Western
423
1,314
1,697
Penn-Reading Seashore Lines.
Pennsylvania System
Reading Co..
Union
1,556
'5;905
W 462
Ligonler Valley......
Long Island.
949
289
industry.
39,722
2,178 '
445
Cambria to Indiana...
Central R. R» of New
166
4,038
731
2,415
Orders
;
Erie.
134
4,510
:
S46
410
STATISTICAL REPORT-rORDEltd,
&
352
2,287
3,547
>•
Bessemer
:
11,677
198,935
;
Allegheny DIstrlet—
Akron, Canton to Youngstowu
Baltimore, to Ohio.—™
447'
12,165
;„ 528
2,659
7,659
4,800
; 370
6,555
mmm*.
516
■:
9,778
•
'
12,501
49,009
i
jpUriht
267
593
11,161
602
19
159,032
-
651
8,787
2,818
241
2,574
46,114
11,288
374
•
3,844
322
,
719
9,316
13,910
5,163
231
Pittsburgh to West Virginia™..™*.
'
1,103
1,140
r,
599
>
9,101
2,768
9,995
:
7,600
2,257
5,558
Rutland
•
12,907
2,585
I,546
3.031
6,083
.
Wabash
13,995
15,027
2,952
7,948
6,413
Y..-N. H. & Hartford—
New York, Ontario & Western
New York, Chicago to St. Louis—..
N. Y.t Susquehanna to Western.
Pittsburgh to Lake Erie™..^.™...
Pere MnrgnftttA
...
Pittsburg to Shawtnut™.
Pittsburg, Shawmut to Northern™™
103,807
2,406
2.030
1,937
3,353
14,983
8,495
Lines
110,848
V 669
179
2,784
7,377
2,980
48,310
10,048
•
;
125,102
8,215
235
149
N.
Total
7,599
1,747
ri;,.•
»
16,396
,1,213
Chicago, Burlington to Qulncy_
Chicago to Illinois Midland
Chicago, Rock Island & Pacific
Chicago & Eastern Illlnois..^.^<M—>*..
Colorado to Southern^...^.^.^M..M^
11,345
3,763
Monongahela
803
778
21,572
Weather!ord M. w. & N. w.
10,749
River
Contour
896
866
3,008
Bingham to Garfield.
54
4.434
2,638
Western..—.
Hudson
24,796
^
2,315
4,369
f 446
11,489
Lehigh to New England
Lehigh Valley
t:
743
22,279
4,070
3,914
Atch., Top. to Santa Fe System.
44
29
988
346
Line
1,342
9,920
7,782
21,748
135
■■
2,625
93,028
2,077
20
7,031
Detroit, Toledo to Iron ton.——
8,607
23,094
Wichita Falls & Southern..
1,180
Mackinac—..
trie
1,863
District—
1,924
4,795
Delaware, Lackawanna to WesternDetroit
500
14,042
990
——
Hudson
to
433
12,401
2,211
34
Central Vermont
Delaware
2,565.
1,484
•
448
Missouri Pacific
1>662
3angor to Aroostook.
471
3,914
:
-
—Connections—
Boston to Maine.
1,013
4,103
1,751
9,323
23,642
531
119,484
Missouri to Arkansas
298
Chicago, Indianapolis to Louisville-
V
420
138,340
•
■■
Missouri-Kansas-Texas Lines
1945
;
*9,826
381
450
23,146
•
11,139
Litchfield to Madison
Received from
-Freight Loaded1947
—
:
982
■
10,538
,
125
Ishpeming
Louisiana & Arkansas—
Total Loads
New
>ket;
•
week
Total Revenue
Eastern District—
York' City Were estimated at 20%
or more ahead of the same week
>
the
LOADED AND RECEIVED
Railroads
Wheeling to Lake
•
;
'
tK. O. & G.-M. V.-O. C.-A.-A
-
the
418
13,410
■■
Central Western
1,466,458
over
;
1,000
145
Tot&L
783,060
FROM CONNECTIONS
(NUMBER OP CARS) WEEK ENDED JAN, 11
inn
volume in the week
1,173
-
816
3,751
v
14,663
9,134
.
179
V; 3,135
26,833
Northern Pacific.-.-.
683,398
freight carloadings for
period 89 roads reported gains
REVENUE FREIGHT
re¬
cur-:
compared
very
favorably with that of a year ago.
% Departmenti store5sades on-^
:4 country *wide. basis,as takerifrOm
•
summary of the
!■;
3,637
14,523
.26,199
i<i-<
363
Spokane International
Spokane, Portland <& Seattle
-1945
by Jan. 12, 1946.
'tains, draperies and bedding in¬
creased slightly. There was a de¬
cline in the demand for luxury
goods such
as
gift items and
jewelry.
Wholesale
a
131
2,521
"
2,690
m770
Peoria to Pekin Union.
1,425,866
.
4,396
11,654
Minneapolis to St. Louis.
Minn., St. Paul to S. S. M..
„•
772,888
830,945
following table is
**
I
V
'
Fort Worth to Denver City.
Illinois Terminal
652,978
1,518,373
—
,
1946
v
;
317
420
Great Northern.
Green Bay to
Lake Superior to
3
•/
:
716
26,916
•
13,250
Kansas City Southern
waiting lists for many items
tion
"
•
113
2,442
Denver to Salt Lake....
;
-
1,585
Northwestern District—
cars
the separate railroads and
systems for the week ended Jan.
11, 1947.
The retail volume of furniture
order *
the Southwestern.
4—
-
The
fur
adversely affected
was
gained iong. The supplies of
-
>
,,
for
I continued to be well above that
of a; year ago. Home appliances
"were frequently requested and
•
;
1,809
:
:>:v 596
434
247
r: 397
....
Chicago & North Western
Chicago Great Western
;
Chicago, Milw., St. P. & Pac.
Chicago, St. Paul, Minn, to Omaha
Duluth, Missabe to Iron Range
...
Duluth, South Shore & Atlantic
Elgin, Joilet to Eastern
Ft. Dodge, Des Moines to South....*^.
'
<
1947
response
V;
280
•.
879
39
.
-
;. -.309
:
2,847
•332
V V
1,072
'V-
1,352
rr
12,159
.
quality it is reported,
the failure of some
goods to sell despite further price
: mild
,
v
.
3,526
TntAi';
•
^resulted in
The
233
328
Winston-Salem Southbound
^
^
reported increases compared with the
correspond¬
ing week in 494^ and aU reported increases
compared with the same
; limited
coats and dresses. Consumer de¬
reductions.
28,601
Mton
corresponding week in 1946.
sales of apparel were
primarily to : women's;
mand
4,235
25,423
21,948
...
Southern System
above!
Coke loading amounted to
14,357; cars, an increase. of 722
abbve^^ the precedihg^^ week
of 1^374
-J" Clearance
'sales
to
corresponding week in 1946.
'last week. The .supply of fresh
I fruit and vegetables was abundant
>
and slightly: larger than in the
f preceding weeki Meat and poultry
were available in plentiful
quan>
4,871
Tennessee Central.
cars, an increase of 1,571 cars
above the ^preceding Week and ah Increase Of
2,439 cars above the
^retail priceof butterIn sQihe;hrbas
.
401
1
•There was a sharp decline in the
titles.v:
47
1,075
27,365
Richmond, Fred, to Potomac
theeorresponding week in 1946,
.weeks. The consumption of coffee
•in 1946 was estimated to be equal
'to the all-time peak level of 1945.
•
72
504
9,679
4,459
1,380
2,015
3,173
1,180
;
5,031
\
108
Piedmont Northern
Districts
cars
V.
125
;V
Forest products loading totaled
46^645 cars, an increase of; 13,754
above; the preceding; Week;:ahd; a^
13,784
262
3,426 ^ 3,317
Seaboard Air Line
of: Jan. 11 totaled
16,387 cars, an
increase of 5,842 cars above the
preceding week, and an increase of
2,855 cars above the corresponding Week in 1946.
'; Retail food volume remained; hi
*the: very high levels-of previous
420
1,744
324
^.
180
.'1,838
.
9,984
4,462
3,730
362
114
Norfolk Southern...
loading of livestock for the week
•cars
14,744
1,512
.
1946
•234
1,969.
505
•
•287
Macon, Dublin & Savannah
Mississippi Central
Nashville, Chattanooga to St. L.
■
been
15,007
3,989
-
•
3,806
Illinois Central System
^
charge accounts that have
opened in recent weeks.
1947
447
797
:
2,192
Louisville to Nashville
alone, grain and grain products loading for the week of Jan. 11
.past week as further mark-downs totaled
37,286 cars, an increase of 7,662 cars above the preceding
•sdtracted many^ shoppers to clear-ahce sales, states DUn & Brad- week and an increase of ,790 cars above the corresponding week in
street, Inc. in its weekly review of 1946.
trade. Dollar volume was
Livestock loading amounted to 21,499
appre¬
cars, an increase of 7f134
ciably, above that of the corre¬ icars above ^the
prkeding i weekahft -ah increase of 3,351 cars above
sponding week a- year, ago. Selec¬
the corresponding week in 1940.* In the
Western Districts alone
tivity continued
toward both durable and non-uurable goods.*There Was a percepti.ble increase in the number of
.'V
—Connections—
'
Georgia
Georgia to Florida..
Gulf, Mobile & Ohio.
moderately the
to be prominent
in the attitude of, many shoppers
752
17,036
Gainesville Midland
above the
Western
373
792
Florida East Coast
limited fpUowing^ thd advance of
Grain and grain products loading totaled
from 1; to ;& cents per pohnd Of^
56,193 cars, an increase
fective December 31.
of 11,520 cars above the
preceding week and an increase of 1,742 cars
**vRetailvand Wholesale T
♦327
_
Columbus to Greenville
Durham & Southern..
cars
Received from
Freight Loaded——•— >
1947 «;.^v-1940' \
1945 V
\\
>
Charleston to Western Carolina.
Cllnchfield
7.5 %
or
above the preceding week,
but a decrease of 1,821 cars below the
corresponding week in 1946.
Coal loading eirtoiintedto 203,466
Cars; am increase of 35,715 cars
' very
was
cars
-
114,180 • cars, an increase of: 16,644:
ing were also bearish influences.
Interest in domestic wools in
market
increase, of 58,057
Loading of merchandise less than carloads lot freight totaled
textile
Boston
an
was
•
week
following publication
of
'President Trumatfs budget ;nies-
the
This
.
<!
Atlantic Coast Line
Central of Georgia..
above the corresponding week in 1946, and an increase of 47,885 cars
or 6.1 % above the same week in
1945,
Loading of revenue freight, for the week of Jan. 11, increased
143,517 Cars or 20.9% above the preceding week which included New
Year Holiday.
Miscellaneous freight loading totaled 362,446 cars, an increase
of 56,457 cars above the preceding
Week, and ah increase of 3,788 cars
above the corresponding week in 1946.
York
spot -quotation closed at 32.86
; cents per pound, a drop of 129;
points for the WeOk> The market
developed weakness late in; the
;
Jan.; 16.
on
Vi: Total Revenue
;'V
Alabama, Tennessee & Northern.
Atl. to W. P.—W. R. R. of Ala
Loading of revenue freight for. the week ended Jan, 11, 1947
totaled" 830,945 cars, the Association of American Railroads I an¬
nounced
Total Loads
Railroads
8onthern District—
::
decided downward trend
523
orders made for or filled
^qu
.
>
THE COMMERCIAL *
524
/Thursday,/January -23,-1947!
FINANCIAL CHRONICLE
U
curred
(Continued from page 498)
the year show ah increase hot* the. Swiss Bank. Corp., was ap-,
withstanding the reduction i» the pointed Manager pf the Foreign
*
(War Loan account from $8,740,000 Department.,
,
vat-the beginning of the year to
? iess than $1,000,000 pn^Dec. 31tM
a
total of 27 men in
Eichardot
Charles
as
Vice-President
15;
Jan.
Trust
Clinton
of
Richardot,
Mr.
Assistant
merly
as
York was announced
Co. of New
on
The Chase Safe Deposit Co., of
Assistant New York announced on Jam-17,
Comptroller and of
Laverty
A.
for¬
Secretary,. has
-
been with the bank for 16 years
Laverty, who also served
Assistant Secretary, became as-
and Mr.
as
/sociated with Clinton, Trust in
; 1937. / Announcement Vwas
aiso
made
at
the
time
same
the
of
election of/ two other officers of
the bank.
Fred C. Hertzer and
Joseph C. Rogers,: both with the
more than ten years, have
"been elected Assistant Secretaries.
bank
George J. Allen has been advanced
Assistant Trust Officer to
<
from
"Tryst Officer and Thomas L Stan/ton, Assistant Trust Officer, has
J assumed the added duties/ of As¬
sistant Secretary,
The
the most
iri the history of Clin-
year
.successful
1946
was
the following
lega
promotions: John A.
Oberkirch,
formerly
Treasurer
and
Assistant Secretary, to be
Vice-President; James A. McBain,
At
the
annual meeting of
the
.
,
stockholders of Lafayette Nationa
■
frpm
reserve
funds."
:
Mri
Smith reported that net operating
income Of the bank in 1946 was
tofore/ Hoface K. Corbin^ Fidel¬
following directors were re¬
ity Union President, announced
Joseph A. Burgunj Walter that
the board, which met in the seph Wayne, Jr., in 1942. The new
J effreys Carlin, Henry S. Coriover,
main offices of the bank in New* President became associated with
John Dalrymple, Fred J. Driscolty
ark, voted to pay two quarterly the bank early in 1941 and was
Willet C. Evans, John A. Hartigan,
dividends
of
40c each.
These elected a Vice-President* in De¬
Oscar
G.
Pouch,
Andrew
J.
quarterly dividends, Mr. Corbin cember of the same year. He was
Schmitz, Louis Segal, and Milton
stated/ are payable on Feb. 1 to elected a director on Nov. 18,1946.
T; Vander Veer.
/■:-^
5" • - stockholders of record at the close Mr. Hardt has been a Vice-Presi¬
additional
An
director,
Jere¬
miah J. Dalton; Jr. was elected..
The annual report showed an
.
over
to full-time
operation in or-,
nual report,
to
stockholders
—Rafael Carrion* Executive Vice-}
President of Banco Popular de
Puerto
L.
Rico; Frost Haviland;
Co.; John
Watson : &
of
Kl
Oliver Ames
Assistant
Treasurer
Mr. Ames who is a
Earle
Jan.; 15, Arthur S.~ Kleeman, graduate, of Boston University ha$
President of they Colrinial Trust been with the bank since March/
1943. He will continue as a mem¬
; Co.,
of New York stated that,
*'1946 was a satisfactory year for ber of the staff of the Rockefeller
our
bank
from
several stand¬ Center Office with which he has
been associated since its opening
points"; he said that the manage¬
last June.
'
ment is particularly gratified "at
the growth in our domestic and
/foreign deposits, from correspon¬ ^ At
the annual
organization
dent banks and from commercial meeting of the Board *61 Trustees
and private depositors." He added: of Brooklyn Trust Co., of Braok4
"At the end of 1945, our depos¬ lyn, N. Y., held; on Jan/16, Frank
its from sources other than the E. Scully was appointed an As*
United States Government Were sistant Secretary of the company.
$48,100,000; one year later, as of Mr;1 Scully has-been employed by
/Dec. 31,1946, such deposits totaled the company since 1933 and dur¬
; $52.700,000,; an increase of almost ing the Second World War served
/ 10%; Our operating organization in the United States Naval Re¬
has
been
greatly
strengthened serve, attaining the rank of Com¬
during the past year, especially as mander before his return to civil¬
to our Credit Department and our ian life; /The office/of Chairman
«on
•
,
.
>
they. official
Board of /Trustees was
abolished through amendment of
the by-laiws tof the conipany. fol*
of " the
dent
i
since
Philadelphia: National
when the FranklinStreet National apd the
of
1928,
Fourth
National
Philadelphia-Girard
Bank
were
consolidated under the
Philadel¬
In 1942, he
the board to fill
title and charter Pf The
phia National Bank.
was
elected
to
death of
the vacancy left by the
Joseph Wayne, Jr.
Questions Facing
vored
a
(Continued from first page)
uniform, methods
bill which would compel
of banks on Saturdays,
but the Committee decided against
the closing
of
computing
service charges so as to eliminate
what the "committee, iri its report,
referred to as "an appalling lack
approving such a measure for va¬
rious reasons. The most impelling of uniformity."
In spite of /the fact that /during
by our
counsel, Leo Dorsey, and also by the - past /seven years there have
the counsel of the Massachusetts been* two / reports ?/ on Z service
of these was an opinion
Bapkers Association that; a man¬
datory bill would probably be un/
constitutional since, it would dis¬
criminate against a particular class
of business enterprise, namely the
banks, and; forbid them; to do
of business on a day When other
the shareholders of The National
types of business enterprise were
Rockland Bank of Boston at Bos¬
free to operate without restric¬
ton/Mass/ the following directors tion. Furthermore, it seemed to
werere-elected: Roger Amofry, our Committee' that* the desired
Stanley
M.
Bolster, Harris I. result could; be accomplished by
Brett, Carl M. Eldgridge,* Wallace
permissive legislation with put
J. Falvey, :H. Frederick Hagerunning the risk of illegality.
mann, Jr., Ernest A. Hale, Charles
I "may say that I am Impressed
E. Hodges,* W. Frank Lowell, El¬
by the number of banks which
more I. MacPhie, Bayard Tuckerlast year were opposed on theory
man, Jr., Frank S. Waterman, and
to Saturdays closings and which
George L. Wrenn, 2nd. Additional
directors elected; were Donald C. have completely reversed their
Rowersock/ President of the Bos¬ position in the light of the ex¬
ton Insurance Co. and the Old perience they had last; Summer
as witness the fact that over 300
Colony Insurance Co., and Sam¬
closed on Saturday last
uel H. Wolcott, Jr., a trustee. All banks
officers were re-appointed with Summer while only 90 closed in
'
the following changes: Joseph L. 1945.
charges
of the
prepared by committees
Association/ and one
State
important contribution; applicable
particularly to the smaller banks,
prepared /by '" the - Country Bank
Operations ^ Commission of ! the
American
Bankers
Associationt
the
Superintendent's
closed that
a
report dis¬
discouraging lack of
uniformity still prevails among
banks of the state.'
the
that we might find
method or formula, accept^
In the hope
some
able to the great majority of the
banks, to eliminate the wide va¬
riety of charges which are pur*
rently
being/made by banks, I
asked the Chaifman of the former
Committee
on
Standardization of
Analysis Methods, Mr. Theodore
Rokahr, to gather around him the
strongest possible committee com¬
posed of representatives of banks
of all sizes to attack the problem
„
again. Such a committee has been
time when the bill appointed, has held several meet¬
takes effect, it is. difficult to Say ings, and has performed a pro*
how soon the bill can be passed digious .amount of work so far*
It was conceded by everyone
and signed; even with the utmost
of cooperation, of which we are that no further questionnaires of
assured, on the part of the leg¬ statistics were required to be as¬
islative authorities. It may be that sembled. All the facts have been
the bill will become effective after available in previous surveys and
the date when many of you hold in that made by the Superinten¬
your directors' meetings in Feb¬ dent's of fice which is, Unquestion*
.
Assistant Vice-President,
advanced to Vice-President,
Robins,
was
Mitchell, Assists
and E. Laurence
ant Cashier was
appointed Assist¬
ant Vice-President.
The election of Leslie M. Hayes
and
LeRoy F.
Murphy
as
Vice-
Presidents and John Goldham
as
Fidelity Union
Trtist Co. of Newark, N. J. Was
Treasurer
of the
announced
Jan. 16
by Horace
KV cCorbin,: Fidelity Union Presi¬
on
Mr. Murphy who has been
associated with the Fidelity Union
dent.
Trust
Co.* since
1915
will
also
As
to
the
Hence, you should all be
considering
now " What
course
ruary.
follow
and
your respective banks will;
when the bill becomes a law
ably, as Superintendent Bell char¬
acterized it
"the most complete
factual /study
of service: chargei
made." What
acceptable so¬
that has ever been
also whether it
is needed is some;
arrange
lution. The committee was
might be wise to
meetings of county asso¬
asked
ciations to4 consider an effective to find,, if possible, some formula
continue-.to serve as Comptroller/
applicable to the great ma j ority of /
date^witty- the
a post ,to which he was named in
bank / accounts t/thmugjhwut ; the
1937. Mr. Hayes has been associ¬ achieving as much uniformity aa
lowing/the? retirement ot Edwin
is possible.'
| State, sufficiently simple in theory
P/ Maynard, ' who had held . that, ated with the bank since 1916. He
arid application to be more readily
''v*'!p!•
v':
. |
office since 1927, Other officers has. served; as; Doanipg. Officer
understandable and,
therefore,
Service Charge Study
of Second Vicewere re-elected. • Mention of the with the title
more acceptable to. both the bankf
fact that Mr. Maynard has re¬ President since 1942. Mr, Gold*
When Mr. Elliott Vv Bell, atithe
,
in charge of our Kingsboro
the head a new
Vice-President, promoted to that
title during the year. Our Travel
Department has also been further
/ developed
so that we are now
supplying our - clients and others tired as Chairman, while continu¬
with complete travel service; all ing as a trustee, was made in our
air, steamship and hotel reserva¬ issue of Jan. 16, page 277;, ,/ :)
tions are made without service
At the annual meeting of stock¬
charge to our customers. $108,672 holders of BFooklyri -Trust: Co, oh
was added to the Surplus and Un¬
Jan. 13, six trustees whose terms
divided Profits of the bank, dur¬ expired were re-elected for 3-year
ing the year, after reducing the terms, / They / were; r George A.
Barnewall, Jackson A A. Dykman,
Capital Debentures by $50,000."
Clifford vE,Z; Paige,. Richardson
At the annual meeting of the Pratt, Adrian Van Sinderen and
board of directors of Grace Na¬ Ogden " White.f Stockholders ap¬
tional Bank of New York, Albert proved and ratified a .proposed
M..V Heaney// formerly A- Assistant Pension Plan for the benefit of
ice-President, was appointed Vice- employees of the company by a
President.
John F. McGraw was vote of 66.3% shares in favor to
appointed Assistant Cashier. V and 1,211 shares against. An amend¬
Francis M. Finn, formerly Comp¬ ment, to-the company's by-laws,
troller of the New York office of
on
At the 82nd annual meeting
,
out
and
New York Banks
serves.
The directors re-elected the of¬
increased demands
ficers,- who are: Walter Jeffreys
for its services in that community
Cariin; President; John' Dalrym¬
Lasting only four minutes, the ple!-' Executive - Vice-President;
annual meeting of stockholders of William E. Yates, Vice-President
the Continental Bank & Trust Co. & Trust Officer; William R. Hanof New. York held on Jan,, 15 at rahan, Vice-President; Alfred M.
30 Broad Street, set a new record Olsen,' Cashierr Percy T. StapleAssistant
Vice-President;
for-brevity in the history of/thty ton,
77-year-old ' institution. - The an-t Carltori /J.: Kudzina,: Assistant
dividends totaling $39,987 & Kelly—were re-elected. Fred/
paid, and a reserve of $58,000 erick E. Hassler, Chairman of the
was set up for taxes.
Mr. Smith Board, presided.
stated that in the event the clear¬
Bankers Trust Company of New
ing house banks close on SaturYork announced on Jan. 21 that
| days all year round, Clinton Trust
its Board of Directors has elected
will do. likewise;
group
Jan. 17,
der to meet the
year,
have: rounded
on
Two
were
/' Office, placing at
business
of
.
..
'
J Foreign-Division staffs. Also, we
basis,
quarterly
a
Executive
elected:
profits McKee, - President of the! bank;
and Henry M. Wise, of the law
on the sale of securities, amount1 ing to $1.96 per share. During the firm of Wise, Shepard, Houghton
:
on
the
share. This did not include
Reporting at the annual meeting
bank
May 1 to stockholders of record at
the close of business on April 18.
formerly Assistant Treasurer, to
increase in deposits from $3,6,627,be Treasurer.
The abtion on;'Jan. »16/establishes
44G to $37,414,136;anincreaseof
dividends on the capital stock pf
Manufacturers Trust Co. of New capital from $850,000 to $1,000,- the Fidelity Union at a rate of
000: an increase in surplus and
York announces that it will open
$1.60 per share annually.
Divi¬
undivided profits from $826,324
a new office in the Van Nest Sec¬
dends
totaling $1.50 per share
to $1,043,325; an increase of un¬
tion of the Bronx at 689 Morris
allocated reserve front $61,289 to were paid on the stock during
Park Avenue at White Plains Road
on
Jan. 27.
Banking hours will $80,048. Income from all sources 1946. •
during 1946, after taxes and the
be from 1:00 p.m. to 4:00 p.m
payment of dividends amounted
daily, including Saturday. Louis
to, $235,780.
From this amount,
Cassetta will beu the Officer in
$150,000 was transferred to sur¬
Charge. As of Jan. 20, the bank's
plus; $67,000 to undivided profits
office at 3491 Boston Road near
Eastchester Road was
changed and $18,780 to unallocated re¬
! $144,748, equivalent to $3.62 per T.
i
the
instead of semi-annually as here¬
Bank of Brooklyn, in New York
which had been sent Cashier; Louis Komarek, Comp¬
iri advance, was troller; and Thomas F. Daltdri and
C.; C.oates, Assistant
of
additional capital stock, and made public on Jan.; 13; Four of Whitfield
Trust Officers,
jr-. *
•$128,270 from earnings and trans- the directors whose terms expired
yfer
of the
of directors
The board
Fidelity Union Trust Co. of New¬
ark, N.J., voted on Jan. 16 to pay
dividends on-the capital stock. of
•
Trust- Co.' reported Edward
W: Smith, President, at the annual
meeting of .stockholders on Jan. 15.
!
Commercial
deposits / increased
$3,406,571;. or 16.4 %y arid total fesources are now in excess of $26,>
4K)0,000. "Our capital funds were
'
Strengthened by $278,270," ,Mr.
/ Smith
said, V$150,000 by the sale
| tofi
of the Board
Vice-President of
The Philadelphia National Bank
of Philadelphia, Pa., at the bank's
organization meeting on Jan.. 20/
Mrv Potte succeeds Evan Randolph
who retired under the bank's; re¬
tirement plan. Mr. Hardt is the
first Chairman of ;;1;he Board of.
the bank since* the death of Jo¬
Chairman
elected
and
by a vote of 66,950 shares in favor
shares against.
Fred
Lincoln
H.
William
of
of
defense!
arising out of per*
to 631
year.
election
The
the
elected
Executive
Officer, and J. William Hardt was
Chief
and
President
formance of; duties, was approver
;
:
in
Regan since 1921. Mr. Schilling
came to the Fidelity Union in 1922
and Mr. Sternbach in 1918.
proceedings
Gretschi President of the
Savings Bank of New
the
armed
services during the York reports that deposits in¬
creased $25,450,000 during 1946.
war, all of whom have been dis¬
charged and 19 have returned to The bank now has 220,058 depos*;
itors—an increase of 8,290 for the
the: company."
"We had
!
and
others
reasonable ; expenses. in¬
Breidenbach
against
Companies
Frederick A. Potts was
since v 1916, and Mr.;
trustees, / officers
Items About Banks and Trust
.
.
.•
lam
has been with the
.
and their depositors.
bank since
annual
convention
in
Atlantic
The committee; has been labor*
Assistant
City last May, delivered his chal¬
ing to evolve a formula which will
Treasurer in 1942.} Other hew Fi¬
lenging address on the widespread be both simple and equitable,
delity Union officers whose ap¬ variations in service charge sched¬
pointments' were announced ; fol* ules among the "banks of this and has in my opinion made great
progress but; is not yet ready to
owing j the meeting of/directors
state, the facts he presented were
report. We hope that a report wilt
on Jan. 16 are;
not news to any of the members of
be ready for submission to youi
Robert W/Bruce, Jr., Assistant
the various
committees of this
sometime during - the
Spring
Treasurer,: main office; Andrew
Association who have labored with
months, and in any event at the
A. Breidenbach, Assistant Man¬
the subject during the past seven
annual convention in Quebec.
ager,
Ironbound / Ferry / Street or
eight years. Those of our mem¬
Branch; Howard J. Regan, As¬
! r am making, this progress re¬
bers who took the trouble to read
sistant Manager, Savings Depart¬
the report of the- Committee on port to you only because of the
ment, main office/Ernest E. SchilStandardization of Analysis Meth¬ modesty of the committee chair¬
ing, Assistant Manager,North
man who has resolutely resisted
ods in the year 1938-1939, will re¬
Snd Branch; Samuel S. Sternbach,
all my blandishments and avoided
call the efforts of that Committee
Assistant
Manage r, : American
appearing before you in persoa
i;o induce the bankers of the State
1918
and
i
Was: ■ made;
-
Branch.
Mr. Bruce has been
witty
providing "for indemnification of the Fidelity Union since 1941, Mr/
Jto
.study .their, costs,
and.to/adopt
today.
it
«*./ 71#
«'* —
* ; /i
@FedFRASER