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MAY 2 2194#
«&>
MONDAY
Volume 159
New York, N.
Number 4283
Y., Monday, May 22, 1944
General Corporation
RAILROAD
Abbott Laboratories
(& Subs.)—Earnings—
7t:V'-7.?-7.\7
::
.
Abraham & Straus,
Period End. Jan. 31—
Net
1
Inc.—Earnings—
1944—6 Mos.—1943
;
Florida
;
1944—12 Mos.—1943
then
(bef. Fed.
Federal taxes
on
1,508,702
925,000
1,635,935
taxes)
income
1,085,000
2,047,508
1,175,000
2,703,384
1,650,000
the
in
(3)
Denver
ghany Corp.
control
andapproving
of
such
that
the
release
of
the
month in
other such
■
final
figures
Quotations
Interest
(Stocks)—-—-2089
New York Stock Exchange (Bonds)
,—2100
New York Curb Exchange—
2104
Baltimore Stock Exchange—.,
2109
Boston Stock Exchange—
——2109
Chicago Stock Exchange
2110
Cincinnati Stock Exchange——-—
—2110
Cleveland Stock Exchange——_—-----2111
Detroit Stock Exchange———2111
Los Angeles Stock Exchange
2111
Philadelphia Stock Exchan^e_-c---->^-----2112
Pittsburgh Stock Exchainge7ii--L,-_,--*.L7--2112-;
St, Louis Stock Exchange.—,
2112
Montrea 1 Stock Exchange k s2 -L-u 4-47_
2114
Montreal Curb Exchange
.7
———_-2114
Toronto Stock Exchange..
7———2112
Toronto Stock Exchange—Curb Section
2114
Change Par Value—
stockholders' meeting has been called for June 6, 1944, to
proposed amendments to the' articles of association.
One
that the outstanding 1,463,400 shares of common
stock, which at present are without par value, shall have a par of $1
amendment proposes
■
on
This, according to George M. Gillies, Jr., President, "should.
per share.
j
->asult
the
in
reduction
stock
of
transfer
^would eliminate the provision authorizing
taxes."
Other
amendments
the issuance of 5% preferred
and extend the
stock (none of which has been outstanding since 1936)
period during which the company shall operate from July 1, 1948,
to July 1, 1998. "The company has $9,500,000 funded debt,- of which
$6,883,500- comes due on Aug. 1, 1946,-$1,241,500 on Juhe 1, 1947, and
$1,373,500 on March 1, 1948.—V, 159, p. 1649.
/: : /
^
Aero Supply Manufacturing Co.,
Quarter Ended Mar. 31—
1944
$4,449,842
"
•Net
Net
—V.
Income
1943
$5,014,677
109,417
100,458
Over-the-counter Markets
Quarter Ended March 31—
profit after charges..,•Earnings per share—
1944
{$27,448
.*
Nil
•On
351,000 shares of
approximately
common
1943
stock.
tLoss.
The
_
Accessories
In
of
Federal
holders of record May 18
Dr8,134
$434,987
$404,286
173,993
deductions...........
172,021
$230,293,
....
2037.
$262,966
100,000
...
of
$6,700 in
and Federal income taxes of $138*400 in
p.
$443,121
This
Cargo
100,000
1944 and $5,600 in
1941 and $82,300 in
1943,
1943.—
"7.7.-';7'
'
Alleghany Corp—Earnings—
■
(Including Terminal Shares, Inc.)
Quarter Ended March 31—
Income
from
1944
•
securities.......,—_
1943
$1,383,845
$1,448,443
1,003,001
792,425
Net
Gain
._L—,
incomefrom
Mexico
security
transactions.—
income
.
Provision for Federal
—__—,
taxes
on
$591,420
4,829,195
,
$445,442
67,738
$5,420,615
...
income,
than
a
with
Net
income
7.—
—
Adjustments
on
...
—
applicable to prior years.—
u
purchase and retirement of own bonds
of
income
and
gains—
$513,180
35,000
26,500
$5,385,615
$486,680
CrlO.OOO
--—-
has
been
_____$5,395,615
corporation cn May 16 authorized an application
to the Interstate Commerce Commission for an order designed to clear
the way for Eventual merger of the C. & O., the Nickel Plate and the
Fere Marquette roads.
,
Robert R. Young, Chairman of Alleghany and the C. & O., termed
the application "a step toward merger."
He remarked that "Alleghany
is asking the Commission to confirm its position- that no authority
,
;
City
for
mail and
&
1944
$985,092
1943
1942
$617,940
$399,681
690.180
•448,400
253,700
59,000
86,000
$235,912
•$83,540
profits
exc.
;
—
for contingencies.—
$0.79
share........
common
1753.
(& Subs.)- -Earnings—
bef. taxes
inc.
inc.
Fed.
______
$145,981
$0.49
$0.28
159, p. 1650.
American Bosch
tFederal
exclusive of
flown across the border by American Airlines in
a record total for any month since operations into
Corp.—Earnings1944
Quarter End. March 31-*after deprec. and amort
inquiring for more
into the facts surrounding Alleghany's relationships
Chesapeake & Ohio,
Nickel Plate and Pere Marquette.
The hearing on this investigation had first been set down for May 16,
but now
filed
It
has been
May
16
will
put off until June 26 when the present application
also
come
to
on
be
heard.
*1943
$235,748
692,644
$0.77
«
$1,263,748
692,644
taxes
$2,256,459
1,646,000
75,000
$535,459
income
pointed
out
that
it
was
the
policy
post-war adjustment.
$0.34
953,000
profit
75,000
Number of
shares
outstanding.^
•Adjusted.
;■
'''•
L.L.-V"
''
tAfter post-war credits of $173,000. in 1944 and $95,000 in 1943.
{Subject to renegotiation settlement.
Company states provision ha$
which may be refunded for year 1943
of 1944 computed on same general basis as was
used in determining 1942 refund, but there is no assurance amounts,
provided will be actual, amounts to be refunded.—V. 159, p. 144i.
been
and
made
to
cover
amounts
for first quarter
American Brake Shoe Co.—New Director—
Maurice N. Trainer,
—V. 159, p.
1753. " /.
First Vice-President, has been elected
-
a
director.
- •
.
•
"
members.
Allan
P.
President of Alleghany Corp., to serve on the
board of directors of the Chesapeake & Ohio, Nickel Plate and Pere
Marquette.
Kirby,
Stock—
"
Disposition
(1)
In
which "it
of
these
reduction
funds
of
has
been
bank
its
is'currently paying
made
In
of
the
indebtedness.'
purchase of
*
the
Inc.—Regular Dividend—
declared a regular semi-annual dividend of six
shfere on the capital stock, par $1, payable June 1 to holders
of record May 15.
Payments last year were as follows:
June 1. six
cents; Sept, 1, four cents, and Dec. 1, six cents regular and four
The
directors Lave
cents per
cents
extra.
■-
The company, announces that the current declaration is paid entirely
net investment Income.
The fund has net realized profits equal
to 8.4 cents per share, none of which is
—V.
158,
p.
being distributed at this time.
2037.
follows:
as
loan
to
the
interest
of
1%.
sum
This
of
$9,000,000
interest rate
later to increase in certain contingencies.
In. the 'purchase of $14,500,000 of U. S. Treasury
certificates
American Business Shares,
from
on
is
American Casualty Co., Reading, Pa.—New Subsidiary
short-term
The American Aviation and General Insurance Co., has been organ¬
ized under Pennsylvania laws by the American Casualty Co. to transact
subject
(2)
for
JNet
of the
As late as December, 1941—and subsequent to the Act of 1940--*the
Interstate ' Commerce Commission formally approved the application
(3)
Res.
'
Earn, per share____._.__.—
present manage¬
ment of Alleghany Corp.
since 1937 to cooperate fully with Gov¬
ernmental
authorities and
that
it is in
the
spirit of this policy
that the corporation has today authorized the filing of the appli¬
cation.
7.: \-7."
' V
Sometime ago there was a reference in the press to the fact that
Alleghany Corp. lost control of these carriers prior to 1940 and
subsequently -regained it.
Confusion on this point has been caused
by the wide publicity which attended the 1938 Chesapeake & Ohio
proxy
contest in which Alleghany Corp. successfully supported the
Chesapeake & Ohio management.
At that time the existing board of
the Chesapeake & Ohio, supported by Alleghany, was, by agreement
between the opposing factions, re-elected, together with three addi¬
was
Corporation received $31,850,913 for the 704,121 shares of Chesa¬
peake & Ohio Ry. common, stock which were sold on March 22, 1944.
Steps Taken Towards Merger of Affiliated Roads—
Mexico
with
16,914,
Profit
year
.
$418,942
traffic
inaugurated in September, 1942.—V. 159, p.
were
taxes
Dr67,738
The directors of the
express
Poundage of express,
Manager.
weight,
was
Provision
Disposition of Funds Received from Sale of C. & O.
Balance
air
the
of
Gain
of
Quarter Ended March 31—
—2099
1943.2127
Commission
Commerce
159,
777."
7"-:- ■'■■■;■'1\
y-.r
American Barge Line Co.
as required under said Section 5.
discussing the application, a spokesman for the corporation
that
Alleghany is asking the
Commission * to cornirm its
position that no authority for control is necessary.
;v L -
tional
Total
Traffic
passenger
approved
Interstate
,/r,7
(see offering in V. 159, p. 1649).—Vt
X-y*
corporation's volume
February
stated
The
com¬
Monterey increased 57.5% during the nine months between June,
1943,, and February, 1944, it has been announced by M. D. Miller,
•Revised.—V.
and
as
.
77'.7''/- '7--::7
and
In
_________
dividend
2,969,364
$407,645
■
other
•Includes State income taxes
159.
-777- 7'7'7'L
Consolidated net income
i,......!.*
$303,835,151
77: American Airlines, Inc.—Mexican Volume Rises—
1943
3,037,562
..............L,
and
$79,004,045
dividend of 59 cents per share has been declared on the
cumulative convertible preferred stock, par $100, payable June 5
1965.
$3,412,486
Br3,359
;
to
in comparison with billings of $46,-of $59,748,075 in the comparable quarter
initial
Earnings per
1944
$3,445,207
.
V
Prov.
Stock and Bond Averages..
amounted
billings
1944
booked
■
Consolidated net
income
Net income
V.
'
of
quarter
to
—,.2121
System——.
■
_
totaled, $46,912,552,
orders
Transactions New: York Curb Exchange.—2099
earnings
-Other 'income,-:
Common
first
and
1943.
4%
2121
Reserve
;
Initial Preferred Dividend—
Alabama Gas Co.—Earnings—
K
the
Transactions N. Y. Stock Exchange_ .——2099
12 Mos. Ended March 31—
and
;
Unfilled orders on March 31.
1944, totaled
pared with $183,705,029 on March 31, 1943.-
Gross and Net Railroad Earnings For
'Gross
last
475,895
Combined Condition Statement of Federal
Co. of Kansas City, Mo.
Eleven other banks are participating,
(Including the Chase National Bank, New York.—V. 159, p. 1545.
Interest
on May 8 declared
a dividend of $3.75 per share on
stock, payable July l to holders of record June 15. This
distribution of $3.80 per share made on Jan, 3.
Pay-*
year were as follows:
Jan. 2j $3.75, and July, l, $3,70,—*
that it had made an agreement
Net
v
directors
Orders booked
-
2122
Foreign Exchange Rates-—
$ After
Corp.—^12,500,000 V Credit—
Operating revenue ^..7,.
•Operating expenses and taxes
$28,820
Milwaukee, Wis.—Corrected Billings
<—Unfilled Orders— S
7;7 ,7 v
,7:7
7;-\
Redemption Calls & Sinking Fund Notices.2117
Dividends Declared and Payable
—2117
The Course of Bank Clearings
2116
Trust
■
2037.
p.
1,175
$25,127
$12,500,000 V-loan credit with the City National Bank &
a
973
...
Allis-Chalmers,
2115
...
Reserve Banks.
corporation announced May 13
23,000
Dr2.469
common
ments
Condition Statement of Member Banks of
establishing
$52,995
23,000
debt..;——
interest
p.
Federal taxes.—V. 158, p. 2245.
Aircraft
$49,100
____.__L._-.—...
v. 159, p. 1545.
General Corporation and Investment News -201$
State and City Bond Offerings and Sales..2128
1942
{$35,018
$0.10
$0.17
$55,464
compares with a
Miscellaneous Features
7
" {$61,652
159,
An
Note—Report states that provision for renegotia'tloh refund applicable
period was computed by using the same formula as was used
to determine the amount of renegotiation refund for 1942.—V. 159,
P. 1649.
7
'.-j.-.;
Net
343,797
income
The
the
to each
Air-Way Electric Appliance Corp.—Earnings—
1943
$399,261
344,445
Albany & Susquehanna RR.—$3.75 Distribution—
_ .
•After charges, taxes and provision for renegotiation.;.
,
1944
$395,400
$50,955
Url.855
long-term
on
Miscellaneous
—
-
.
Inc.—Earnings—
Net sales
7
_ _ _ .
A special
vote
Corp.—Earnings-
income
Gross income
—
!
1,244,000
1441, 1965.
earnings
Other
New'York Stock Exchange
3,881,000
274,000
;
Operating revenue
Operating expenses and taxes..-,..—.....
Page
history.
Business in force as of April 30, 1943, was $447,370,350, while as of
April 30, this year, the figure stood at $533,265,750, a net gain of over
$55,000,000.—V. 159, p. 345.
|
Ry.—bonds...;
159; p. 1241,
Net
Stock and Bond
for
Acacia's entire
Adams Express Co.—To
Airline
Alabama Natural Gas
$4,147,696 net increase—revealed an
annals of the life insurance business.
"For 12 consecutive months our placed business exceeded any
3,325,000
1,196,000
659,000
1,198,000
,
...—....
12 Mos. Ended March 31—
April—$6,114,843 placed with
accomplishment unique in the
It said:
Northern—bonds
Great
Louis,
Seaboard
■—April Business at a New High—
announces
Pacific—bonds——.
Orleans, Texas & Mexico Ry.—bonds...—
York, New Haven &; Hartford RR.—bonds....
San Francisco Ry.—bonds...—
Kansas City, Ft. Scott &, Memphis Ry.—bonds......
St.
Acacia Mutual Life Insurance Co. (Washington, D. C.)
company
224,000
Coast—bonds.....
East
New
Issue
This
2,525,000
453,000
954,000
Western—bonds...
New
$872,598
$5.01
In
The
shs. 3,100
«*»'
1
Grande
Rio
International
—V.
Net profit
$550,935
$583,702 $1,053,384
•Earnings per com. shr.
$3.26
$3.45
$6.21
•After preferred dividend requirements.—V. 159, p. 442.
&
Missouri
carriers by Alle¬
as the Commission may deem not heretofore authorized
Authorizing
stock
Chicago, Milwaukee, St." Paul & Pacific—bonds....
Chicago Rock Island & Pacific—bonds...
—.
'
alternative.
$1,983,000
Northwestern—bonds...
and
Prclcrrod
New
Far Value
-:7
Name—
is necessary."
roads)
Chicago
'
Profit
(of the
Copy
MISCELLANEOUS
-
Finding that control of Chesapeake & Ohio Ry., Pere Marquette
York, Chicago & St. Louis RR. and other carriers was
not acquired and is not now being maintained by Alleghany Corp.
in violation of said Section 5—and accordingly dismissing the appli¬
cation; or, if it be otherwise, finally determned, then in the alternative
(1)
Ry.,
$18,514,953 $16,622,837 $33,049,592 $28,676,974
sales
for control
INSURANCE
-
12) Finding that control of Chesapeake & Ohio Ry., Pere Marquette
Ry., New York, Chicago & St. Louis RR.
and other carriers by
Alleghany Corp. has heretofore been sufficiently authorized and ap¬
proved by the Commission under said Section 5—and accordingly
dismissing this application; or, if it be otherwsie finally determined,
1944
1943
^7 1942
•Net profit after charges and taxes.
$761,932
$685,367
$524,249
Earnings per share———
t$0.86
t$0.87
{$0.65
■'•After
charges, Federal
income and excess profits taxes.•; ton
849,958 shares of common stock. {On 755,456 shares of common stock.
V. 159, p. 1441.
3 Mos. End. March 31—
a
axidi Investment News
INDUSTRIAL
PUBLIC UTILITY^
-
Price 60 Cents
.
-
■
■
''j-
a
general
fire,
The company
following securities;
/
inland
marine,
and
transportation
Insurance
business.
will transact a general aviation business on an inde-
in
basis
covering
policy
'
'
'
.
'
,
dividend
both
of
$1
payable June 15 to
disbursed
each were also
1754.
p.
22—2
Note
2.2—-2—.
...
credit
Deferred
Special
Earned
'
'K
^.♦Earnings
2,238,930
v.
7,7381-'..'12,330
-
.
'
Tiling Co., Inc.—Earnings—
American Encaustic
$22,236
$11,579
——
'
value
Cash in banks—on demand:
V";V
■
S.
currency
in
;: Material
increase
of
half
2
„2---i----2^_22222^2^.22._22i2;
—
.y—————2(2. 127
Total
s,1,403,775
2'-'---,—'
622,766'
It797,(520
etc.) liabilities-,
,——2 ..' .'5,050,630
Deferred liabilities _l2—22-^—
2- •
287,521
Deferred credits
Subsidiaries—
Operating
Dec.
31
————————
.including
taxes
appropriations."-—
reserve
;
:
accruals
Other
Other
Argentine Plant Taken Over By
Other
taken
than
is stated,
it
y
$50,000.—V.
Net
;
and
earned
to
dividends
to
2,151,126
public—
!
Balance
-i
adjustments
Exchange
Oper.
on
Portion
Net
income
■.,
inccome
American
Net
&
equity
Other
Foreign
income
Total
Power
company .(as
of
Co.
49,255
:
Inc.—
above)—$14,210,652 $13,129,853
504,588
51,273
_———---—————
$14,261,925 $13,634,441
——A——
—22
2,016,100
4,761,611
1,412,478
5,387,599
$7,484,214
expenses
oper.
V.
"""
1,702,528
$59,042 ■>'
$41,808
—
,.
2
4.88%
♦Full
surplus
dividend
whether
———
dividends
earned
——
—
applicable
requirements
respective
the
to
of
Years
Income,
Ended
'
1943
Other
per
p.
158,
Other
;.v2' $7,776
.
Total
income
common
taxes
,
...
...
2,016,100
amort,
Balance
of
debt
disct.
&
Balance
$6,453,108
__
dividends
__
Sheet
of
As
Dec.
31
1,702,528
(Company
$
Investment
U.
S.
in
ion
Treasury
Accounts
Interest
Other
securities
banks
advances,
and
bills
dividends
etc
*3,150,000
receivable
;
-
1
;
June
31,004
1,OOOTOO
230,859
357 566
2 709
3'fi43
6,515;791
——
520,029,700 519,860,651
ordinary
of
Chase
New
"
——
.
——„
217,09'
98,796
:
i
——
220,93
—
of non-oper. units
foreign in-
Federal and
2*
profits
;
profits
.vcess
of
1,444,000
1,000,000
0144,000
0100,000
tax_—_
2,785,176
2—
etc.
for contingencies-
Minority interest
•
per
46,491
$7,577,631
$0.87
$50)
..
2,697,17
1,000,00
38,511
$9,085,359
shares-
$9,960,516 $11,631,77.
$1.05
$1.15
$1.3
lands and phosphate de
metal mines.
{Before depletion of
stock,
posits.
''.
depletion of coal mines, timber
"Includes
■'
common
Notes—(1) Earnings for the
•'
3,530,920
2,462,500
78,819
3,181,725
:
„—47,780
tNet' profit
{Earnings
1,600,00
ex-
♦Depreciation,, obsolescence,
Prov.
4,825,32
8,588,555
4,036,000
7,250,000
tax_-
refund
Post-war
5,914,000
_2»_—.——
tax
come
Excess
{On 8,674,338 shares (pa
-
.
;
■
March 31, 1944, ar
may aris
subject t
develop in audit of the. accounts, a
three months ended
part based upon estimates, including adjustments which
in connection with .renegotiation of war contracts, and is
in
adjustments
other
as
may
the year.
!
•
-2
earnings for the March quart
subsidiaries, amounted to $187,55
This amount is not included in the consolidated income .account-:
compares with $25,415 excluded in the first quarter of preceding y<
—v. 159, p. 1547.
,
..2
equity in the undistributed
principal
the
of
1943
$191,164
$0.83
■'
'
..tl
unconsolidated
t
1944
$3,274,532
5,043
3,099
{94,374
124,998
fn 1943:
Corp.—To
Redeem
International Industries, Inci, below.-
&
Armour
Co.
-V.
159, P. 1754.
(111.)—Dividend on Prior
Preferre
declared a dividend of $1.50 per share on accou
of accumulations on the $6 convertible prior preferred stock, no pa
value, payable July 1 to holders of record June 10
A like amount wa
disbursed on Jan. 3 and April 1, this year, the first since July 1. 194'.
when a similar payment.: was made.
Arrearages as at April 1, 194amounted to $28.50 per share.—V. 159, p. 210.
The directors have
provision for contingen¬
{Loss.—V. 158, p. 2574.
tAfter charges and
International
See
1943
$2,837,329
————
taxes.
Argus, Inc.—New Name—
t
Deben¬
the
outstanding
$7,938,000
20-year
5V2%
convertible
gold
Equipment Corp. of Bryan,
Aro
due Jan. 1, 1949, have been called for redemption as of
at 105 and interest.; Payment" will be made at the
National Bank of the City of New York, trustee; -XL Bread St.,
N.
Y.
.
-
*
corporation has announced plans to refinance its debentures
eight-year $6,000,000 314 % loan from the Bankers Trust Co.
and
a
10-year $1,900,000 4V4%
loan from the Adams Express Co.
Stockholders, at a special meeting scheduled for May , 24, probably
will be asked to vote on an amendment to the registration statement
O.—Earnings-
Quarters Ended—
1944,
The
will
entire
295,91
$17,624,587 $20,463,575 $28,756,106 $22,230,77
Gross
.
Net
sales
profit
Provision
—
—
2—
—:
2-
Feb. 29, '£4 Feb. 28, 1
$4,019,620 $3,284,7
:———1,432,246
before taxesi:
—
for Federal taxes
;
——-
by an
its
1941
$21,934,85
•
York,
which
Total
;
.■
$15,000 in 1944 and $30,000
.30,
(& .Subs.)—Earnings
Mining Co.
debentures,
$
6,44l',040
assets
charges
of
cies
All
1942
1,457,256
—
2
•
•
—
American
496,077,805 501,986,597
12,869,886
9 766'195
....
receivable
current
Deferred
and
demand).—
.
tures—
only)
1943'
Cash
.
declared
the 7%
1943
1942
$17,352,315 $20,169,400 $28,535,620
212,212
294,175
220,486
discount—
and
Interest
—
———
income
(2). The
Subs.)—Earnings—
profit
f'Net loss
$6,080,909
Assets—
"
:_L—
♦Operating
5,387,599
4,114,451
surplus
Preferred
4,761,611
expense
'
March 31—
3 Mos. Ended
,
1,412,478
deducts.^ $11,214,719 $11,468,503
applic. to interest & other
&
.
_
American Ice Co. (&
♦After
Balance
Interest
—
share—.
17
'
.
$13,230,819 $12,880,986
—
including
income
Total
..
1,750
.v
profit.
Operating
,
such
2246.
Sales
Expense,
10,
Anaconda Copper
1942
$13,179,546 $12,376,398
51,273
504,588
...
—
—
Earnings
—V.
31
Dec.
May
on
Quarter End. Mar. 31—.«• >. 1944
>
4,521
1944
$123,619
$0.41
Pay $2 Preferred Dividen
a dividend of $2 per share
cumulative preferred stock, }
holders of record May 29. A like amount wa.
last, and on' April 15, July 10, Oct. 15 an
1943.
/Arrearages after giving effect to the dividend jus
will amount to. $72.25 per share.—V. 159, p. 1346.
declared
/2'":
Co.—Earnings—
31—
Net income after charges and taxes——
.'
;
$100, payable June 14 to
disbursed on March 17,
Exp.
Quarter Ended March
only)
(Company
subsidiaries...
from
Income
periods
output of
1966.
159, p.
the close of
American Hair and Felt
Electric Co., Inc.—Output
this company for tl
kwh., an increase of
78,947,900 kwh. for the corresponding week
the electric properties of
.13, 1944 totaled 82,806,000
accumulations on
of
account
,
unearned.
or
Statement
May
the
over
The' directors
$994,316.—V. 159, p. 633.
Balance
Preferred
$100, payable July 15 to
the rate of $9 per shar
since and including 1922/
regularly
made
American Woolen Co.—To
•
.$39,608
———
regular quarterly dividend -of
May 17 declared the
of
output
,
1943.—V.
of
$50,452 • /. $17,198
'• $6,025
♦Loss.
•
•::i'''::-' v2 2 2.2 '
VV1;';
Balance Sheet, March 31, 1944,
*
Assets—Cash in banks, $120,253; receivable for securities sold but
not delivered, $12,964; U. S. Government securities, $5,006; securities
owned, $851,854;
accrued interest receivable, $2,704; miscellaneous
accounts receivable.
$101; furniture and fixtures (less reserve for
depreciation of $926), $754; deferred charges, etc., $680; total, $994,316.
Liabilities—Payable for securities purchased but.not received, $13,984;
accounts payable and accrued expenses, $4,248; accrued taxes, (gen¬
eral), $1,8.31; accrued Federal income taxexs (subject to. review by the
U. S. Treasury Department), $4,137; reserve for Federal income tax >on
unrealized
appreciation of securities owned, $15,300; common stock
(par 10 cents), $6,984; capital surplus (less dividends on common stock
of $45,808 charged thereto in prior years), $628,682; earned surplus,
$40,432;. excess of market or fair value over . cost of ^securities.; owned
(less nrovision for Federal income taxes of $15,300), $278,718; total,
profit
42,691,678
,
on the capital stock, par
June 15.
Distributions at
have been
1857. '
ended
week
.
.
27,815
10,109
8,590
2.200
record
p.
Power
.
$27,308
-
40,086,070
_
American Water Works &
$3,255
'
50,533
44,574
profit
159,
26,793.599
22,415,687
2 7,972
wl..^$507v-
sales
from
$8,641,307
share
of
annum
per
$6,834,364
4,114,451
Expenses, including taxes.*
Int. to pub. & amort, of debt disct, •& expense
T
■>,::!;■<'.»
$8,509
♦$2,766
securities
Net
Foreign Power Co.
subsidiaries*——1 $14,210,652 $13,129,853
of
•'
$2,G89,526 .-$5,841,256
39,773,714 40,492,687
$2,078,920
income-
2,2—.
directors on
per
holders
2v;-j;2, -■.■
$11,226
$57,850,593
taxes
oper.
$2.25
>1941
.
7,964
7,486
8.275
of
profit
Total
:
in
:
$7,457
"'
revenues—: $19,751,802 $19,290,162 $57,945,861
11,226,687
9,353,037 33,685,404
_2—
6,446,195
7,247,599 18,419,201
expenses
income
The
:
<
i,
Net equity of American &
Inc.
1942
'
:
••.>
Telegraph Co.—Earnings—
Usual Dividend—
•
.
"
2,133,862
Cr229,620
working capital (net)
Net
Net
Dec.
expenses
over
—————————„2—— $14,671,981 $13,372,660
applicable to minority interests——
461,329
242,807
Balance
1943
$5,509
received ——
$14,442,361 $13,421,915
—
Operating
Operating
div.
Prqv. for Feu. mc. tax_
♦Preferred
Corp.—Quarterly Report
$15,995
;.:'-2
2
"l944—Month—1943
1944—3 Mos.—1943 v
.^2 $19,839,422 $19,384,662 $58,197,361 $58,131,593
revenue
87,620
94,500
251,500
281,000
oper.
Operating
Byfield, President,
annual stockholders'
1944
■—2_u——2—2—$16,593,487 $15,555,777
Balance
Uncollect,
Ended March 3l2,;2y;
-2vyy i:';'-::;1';-. ■
1442.
p.
American Telephone &
'
Int..
y
,
the first
taxes'for
income
Period End. Mar. 31—
1754.
for Three Months
par)
(no
Operating revenues
S.
Earnings
ton
Federal taxes and other charges,
common stock.
{Approximate figures.
expenses,
159,
only minor cansequence to -the ' company,
facilities have an annual net income of less
American Foreign Investing
Robert
1942
——A._—————L.————_ $18,670,070 $17,358,308
public and other deductions—,
2,076,583
1,802,531
income
interest
p.
$0.43"
$0.59
;
';
245,589'
quarter of 1943 amounted
$82,187 against $260,000 for the first 'quarter - of previous year.2-«
is of
159,
$0.23
1941
'319,879
123,281:
V.
Government—
states:
;
2.2 •
,—:2-2.;
At the
meeting, held on March 28, 1944, a
broadening of the investment policy of the corporation was approved.
Since
incorporation it has been the policy of the management to
confine its investments exclusively to foreign dollar bonds, 'despite
the fact that the certificate of incorporation permits investment in all
types of both foreign and domestic securities.;- The policy which was
approved by the stockholders was to invest in all .types.of securities as
permitted by the certificate .of incorporation.
It may well be that in
the future no actual change in our operations will occur.
On the other
hand,: due to the rapid changes in conditions and opportunities for
investments, both foreign and domestic, caused by the war, it is im¬
possible for directors to predict the time or the precise form or the
extent to which investment opportunities may become available in the
future,: particularly in the post-war period.,
Foreign "securities other
than bonds, and certain domestic securities may, upon occasion, seem
most desirable for investment,, and
the management felt that it was
in the best interests of the shareholders that the company take advan¬
tage of such opportunities, without restrictions either as. to time, or as
to the percentage of the company's portfolio which may be invested
in any specific type of security.
^
y2\: y
2! 2/K".. '■'
The asset value of the stock was $13.68 on March 31, 1944, compared
with $13.29 on Dec. 31, 1943, and $12.87 on March 31, 1943.
2
of
Gross
shares
'
$3,290,781
$6,762,941
to
at Parana, Argentina, owned by a subsidiary, has been,
by the Argentine Government,(it is reported.' .This .devel¬
over
opment,
$17,828,551 $16,573,354
841,519
784,954
met)
income
operating
539,990
plant
^however, since the Parana
$67,467,813
1942
:"
$3,400,000
250,000
$0.50
share—
per
♦After
Note—Federal
The
Co.—Earnings—
• " $1944
•■-•• 2. 1943
profit
1'Earnings
722,900,231 709,196,501
.
1944—4 Mos.—1943 ^
'1944-T-Month—1943
w--.4li-:--L2— 2'$7i000,000
sales
♦Net
61,522,005
———
Total
$72,414,900 $64,384,946
.48,568,637 42,259,058
5,993,537
5,524,832
—_
Net
.
394,605
.-2—
:
.
$20,641,248 $18,739,704 $69,411,635
1651.
p.
3 Mos. End. Mar. 31—
1,304,336
4.499,627
3.400,151
3,820,796;
44,504,200
47,602,292
.2'
of
income
L
66,438,725
_2
-I-—-
Earnedsurplus
Excess
Operating
:_22—
capital!-:
fixed
to
reserves
159,
American Stove
452,280
;
withheld,
.
relating
Reserves
:
*
—V.
1,653,264
—
—:
(taxes
Miscellaneous
revenues———jA—A— $17,852,726 $16,601,056
plants (net)
24,175
27,702
Net operating
lease
Ended
1943
revenues
for
Years
^
•
Operating expenses,
Property retirement
Rent
Statement,
accrued :
Interest
^
4,159,968
5,497,375
^--2-!- ;.. '
Apr.:30—
Period End.
v
Sales
.
—
dollar's
Co.—April Sales Up 10.1%—
!■[ American Stores
.
taxes
Accrued
,
Income
payable
respective periods excludes all income'
subsidiaries and from transactions in
foreign
owned
-wholly
57,821,261
,
.126,791,787' 132.185,129
1,379,246
7V, 6,141,483
/I: 2,,705
,2. •;;.;;i'3„'ii4
1,977,272
—222:
; 1,8421505
———1
2———.
declared
Dividends
Accounts
Federal'income and special reserves.
provision of $317,000 for
.<,.Note—Net ^profit for the above
from
212!
payable
.i; ''...-i^
contingencies.
tAfter
foreign countries which have not been realized in United States
due to restrictions on ^transfer, of funds.—V." 159, p. 1442.
:. 1,7 •;
.
for
serves
other
61,659,490
debt-:
funded
of r.' l
523,400
;1; $0.29
.;
$0.47'
taxes
income
6,881,815
V7;, 462;261
722,900,231 709,196,501
""«*■'
"7" •/*■' '"'l '• 2
by public—2_
held
482,700
$0.52
506,300
provision-of $924,200 in 1944. and $847,500 in 1943 for Federal
and possible Federal excess profits tax and special re¬
renegotiation of war contracts, post-war adjustments aqat'
♦After
:
.
■-.■,7207,718
•
393,940,452 393,940,452
„
(and related surplus)
stock
Notes and loans
over
Consolidated
i——_,.4_A'_2———.22—'
stock.
subsidiaries,
and welfare expense for a fourth of the increase.
As in 1942,
freight rates and war-risk insurance were the main elements
in the increased fuel costs.
s
/ <
For
the first
three months of 1944 operating < revenues were *up
.
■
Total capital
in¬
the corresponding period of 1943.
Operating
•expenses increased $1,293,000, or
12%, and net operating revenues
Increased by $365,000, or 6%.
The war has caused sharply increased living costs and consequently
higher expenses in practically every country in which the subsidiaries
operate,, These conditions are reflected in the larger ratio of operat¬
ing expenses.
Fortunately these increased expenses have thus far
been more, than offset by greater business.
, "
'5 v
The; American
&
Foreign
Power
Co. Inc. hopes to find more ,
and
more
local capital
in each country for the expansion of its
services,
This
expansion will provide
additional opportunities for
local
investors to
participate in the growth of the public utility
industry/in the localities in which the subsidiaries operate.
Since,
however,
the territory
is largely new and undeveloped and. the
financial markets of "many of these countries have not reached the
point where they can supply the entire amount of capital required,
it
will be necessary to continue to obtain some part of this new
money
in countries possessing greater
financial resources.
If the
essential flow of investment capital on a continuing basis is to be
encouraged, the countries of Latin America must • do their part-by
allowing the investors whose money builds up the national economy
to earn an adequate and safe, return.
;
The
management of American & Foreign Power Co, Inc. s are
believers in the future of Latin America and of its agriculture and
industry.
Their
goal
is to
make ample and dependable
power
available wherever
it
can
be' used
advantageously, and thus con¬
tribute
to
the
sound,
economic
growth of the territories
served.
They believe that increasingly efficient service must be supplied at
the lowest rates consistent with sound business principles.
Strength
In
these beliefs is based upon their
confidence that the people , of
the
areas
served will insist,
in their own enlightened self-interest,
that efficient utilities be treated fairly and that their stockholders
be allowed a reasonable-return to their invested capital.
1
suspense—debits..1:—22(
♦$236,752
share—j.__—2r2i:2^—■
Earnings per
1942'. 1
' t$152,010
1943
' 1944
-!„!2-!2l!——2—_• v ♦$252,421
profit
-
Outstanding common shares-—^—2
332,219 '
1,532,214
f
31—" "■ 2'
3 Months Ended: March
Net
Liabilities—
and
10%
1,708,951
,1. .,239,099
6,791,360
vi"1 '581,935
1;
ocean,
or
*
267,357
Corp.—Earnings—
American Safety Razor
"
i0,659,232
12,934.940
.1;
Capital
.
as
V. 159, p. 7291
'
_
wages
$1,664,000,
Arrearages
,,
.
.
supplies.!.!—————2.2^—2-1 1:
and
preferred stock, both payable June 20 to holder? of
made on "March 20,
March'30 and June 21,
20,.and"pec.^^io,2$3.50 each.',.- • "
,
\ . T
■
at April 1,, 1944, amounted to $36.15 per .share.r2; Tt"
1 ,7 ..
.7$1.75 each; Sept.
.
Prepaid accounts—insurance, taxes* rents, etc
Ji
Unamortized debt discount and expense—.—".
net operating revenues - were
$17,853,000, an
of 7,5% over 1942.
Higher fuel costs accounted for almost
the increase in operating revenue deductions and salaries,
14.2%
..
on
Working .'funds.
Special deposits
1943,
revenues of the subsidiaries were $72,415,000
of 12.5% " over 1942.
Operating revenue deductions
increase
f
•;'!
2
;
Dividend'sTaid in 1943 were as follows:
last.
665,218,194-7661;774,491
3,700,282 v 2,834,100
J
i—
■
A payment of $1.75 per share was
record May 31.
1942
,
Japanese.
Operating
an
12',
_
Miscellaneous
creased
■
.
Co., Inc.—Annual Report
Curtis E. Calder, President, in the annual 'report for 1943,; reports
that the volume of business done by the subsidiaries reached
a new
high during the year and in many localities the plants of the sub¬
sidiaries arh loaded to capacity.
An even greater volume of business
could be done if machinery and equipment could be obtained.
The balance of consolidated
income, alter interest,' was $7,484,214
for
1943 compared with $6,834,364
for 1942.
The income of the
parent company was $6,453,108 against $6,080,909 in 1942.
No in¬
come
has been included from the subsidiaries of
the company'in
Shanghai," China, whose properties are presently under the control
the
•
.1943,
v
'
American & Foreign Power
of
:\
'
•
:
ledger
.81
Dec.
Sheet,
<2,
320,551
The dirpctor.s: on May 9 declared a dividend of $1.75 per share on
of arrearages! and a regular quarterly dividend of $1.75 per
share on the 7%
^
,2
13,043,862
2
17,356,416
deposit ih U. JS.^2-222—.
3,263,199
.,74,973,427
Foreign currencies on deposit abroad—i-3,723,514
4,645,784
Short-term. investments
——.^.2^22
4,481,876
*4,482,"486 1
Receivables
Inet);'v. —:2_—2.2L--2^._—t
158, p. 2150.
stock.—V.
capital
of
•
.
' "■
1 j •
'■ • •.
franchises,/etc.——
' ■•
' ■
property,
.
Plant,
U.
*
shares
■■r
.
Investments—at
•
{{$14,462
§ Earnings per share—.;—;lx.—
j*.•>. Nil
Nil ••••
$0.04
After allowance for all charges, including depreciation (and in 1943
and 1942 also includes interest).
{After estimated Federal and State
income
and
excess
profits taxes of $11,830.
{Profit.
§On 333 879
loss
•Net
Balance
Consolidated
Assets—
1942
1943
1944
March 31—
Quarters Ended
Total,
.
$341,044
$0.25
account
_1__——————-i——I 520;029;700 519,860,651
'
'
Co.—Preferred Dividend— '
American Public Service
,
Co;—15-Cent Common Dividend
The directors on. May 16 declared a dividend of 15 cents per share
on the common stock,v payable June 15 to holders'of record June
1. A
like amount was disbursed on March 15, last.
In 1943, the following
payments were made;' March 15, June 15 and Sept. 15, 15 cents each;
and Dec. 13, a year-end of 30 cents,~*-V... 159, p. 1650.
'rj,
American Colortype
$0.15
common;share^222;4*2;-;• /,i $0.15
per.
$661,595
l,023,903_shares.—V. 158,,p.- 2246.1'
♦On
r.*
—84,050 2\ 11,433
V.2— ' 1,625,000 '
1,'625,000
22222221 36,603,983 ^ 33,800,051
—■
contingency reserve
surplus 12—_2—iL,
2,452,796
,
•
prtffit$237;9d2>;i V $238,337 '
-'Net'
27,835'
W* 41',916
iriil'Vi
-A—
accounts
Miscellaneous
104,620
.273,765
228,659
_
—2v
5,000,000 2<,V
>'
—_.
221—
Accrued
been
have
Profit
30,000;000,2 38,100,000
payable
payable —.
;
Accounts, payable .(subsidiaries)^—_
•_
declared on the common stock,
holders of record June 1.
Extras of 50 cents ^
on June 15 and Dec. 15 of last year.—V. 159,
.
., 2". .2
;
share
per
'
2< w
1942 ■'
'1943
$466,996
Quarter'Ended March 31—'. vll'" ■>.. 1944
''
after chgs. but (before-, ta^e^'';.. $509,175 r.u
Prov. for Fed.'inc. &lexc. prof, tax.,
271,213,
>1
'50,000,000
2030—.. _22l2 ' 50,000,000
due
series
5%
Notes
" ■
,/V
;
American Chicle Co.—Extra Dividend of 50 Cents—
An
extra dividend of 50 cents per share and the usual quarterly
•
_
debentures,
Gold
393,940,452 393,940,452
—-
stock
Capital
Illinois—Earnings—
American Investment ;Co. ; of
Liabilities—
joint
risks
and will join its parent company in issuing a
all automobile risks and also in covering related
other fields.—V. 159, p. 1650.
* ..
pendent
^Monday, May 22, 1944
FINANCIAL.CHRONICLE
THE COMMERCIAL &
2074
permit the company to follow this procedure'
outstanding debt.—V. 159, p. 1965.
of' refunding
Net
income
Earnings per
Note—No
for
the
—
.
1,145,797
$286,449
share
provision has been made for renegotiation
159, p. 1246.
fiscal year 1944.—V.
1,261,0
945,8
$315,2
$0.92
$1.
of war contrac
[Volume 159
Number 4283
THE COMMERCIAL & FINANCIAL CHRONICLE
Artloom Corp.—Earnings—
;
12 Weeks Ended—
Outstanding
.■Net
sales
Earnings
•
'
„
Net profit
r-V.
'
shs.
common
after
Mar. 25,'44
(no par)
all chgs.
1442,
!i—
Associated Gas & Electric
„The trustees of Associated Gas
73,389
Nil
'.'-i
•
'
$0.21
}■
•'<
.'•••:
■
Co.—Weekly Output—-
•
»
268
units,
3.3%
or
above production of
159,- p., 1966.,'
,.:
•,
.( {:
_
130,168,711 units
a
local
$46,757,209, an increase
in following tabulation;
84".22%'/'as'shown
or
v'v,
1943
"
Other Oper. Charges—>
and
retirement"2-21—'
Railroad
unemployment
13,431,268
..
625,703
3,88.1,523
728,036
.'
222,187
119,882
Atlantic Gulf & West Indies Steamship Lines (&
Subs.)
Property
■
_
.
—
Other"
,
^-Earnings-—
5,285,947
—1,822,316
—-
:
—
-
5,381,370
Quarters Ended March 31--'
'!
■
1944
1943
$2,124,383
$2,859,445
expenses —..Ai—--!!™,.;
1,364,644 /■ 2,003,152
Taxes except inc. & excess profits- ■;T ! 60,013
55,020
$5,911,835
Railway
5,648,164
tax
Grand
-"
Operating
income
$699,726
$801,273
$123,609
.76,295
—
Other income"-
23,373
69,174
Gross
income
Interest
$776,021
™__™—
deductions
■
$824,646
48,065
...
™—
$192,783
64,176
74,208
I
Net
operating profit——
Other profit (net).
-
Gross
•
profits
$727,957
34,024 !
—
Prov. for
inc.
for. contingencies^
Net
&
prof, taxes
excess
598,234
>
i..
profit
111,057
$353,072
—v.. 159, 'p.. 1966.
\
$777,560
.2;:':..
$39,211
:
;•
because
1943.-
in
Atlantic Mutual Insurance Co.—New Affiliate Formed
William
<
of
D.
affiliated
new
a
Winter,
President,
•
.
under
company,
,
„
This
property.
is
not
possible
charter-.
own
In
the
past
demands
for
casualty
The
ten
under
2 i->.' ^
the number
years
the
broader
service,
railroads
prudent
legal
limitations
of
its
now
.the
addition
iii
will
company
have
surplus
funds
of
approximately
500,000.—V. 159, p. 1548.
'-
3942.
$8,574,214
The
of
21,549,242
22,145,215
21,953,413
32,458,658
16,909,832
charges„__
5,589,541
7,103,740
7,105,380
charges^-.
4,023,318
4,252,822
4,261,395
7,098,940
4,261,395
30,509,480
45,323,597
21,091,883
5,549,497
int.
int.
income
7
.
of 50
creation of
such
stituent
up
for
•
all
panies
Stocks'
amount was disbursed on
share has been declared
per
June
10
holders
to
of
Invest,
in
the
May 25.
A like
July 15 and Dec. 10, last year.—V. 158, p. 82,
; ;
Earnings
dividends.
Interest
Total
Ended
March
income
31,
1944
*
.1,185
^™_—
total
Cash
4.592
wv
sale of
securities
21,287
Dividends declared -22__2—2_____^_2—-2_2-2--:
Balance Sheet, March
st
accrued,
leferred
$321;
total, $412,920,
$39,248,200,
$36,274,053
the
balance
war
Net- bals.
pay.
cash
ally ceased,
ous
or
total
a
of
the
for
principal
amount
involved,
or
of
securities
continued
to
The Terminal
'arns.
per
A After
1943
influence
the
of
The
receiv.
$0.42
f$0.60
$1.48
year.
t
:
bituminous
$1.06
interest, Federal .and Canadian income taxes,
inority interest, and provision for excess profits tax, etc.
t Revised.—
159, p, 1549. ......
Baltimore
Ohio
&
RR.—Roy
The
cale
War—The
demands
aiiroads
tities
fuel
during
1943
exceeded
and
■
•
raw
products
lend-lease
materials
and
food
moved
were
were
requirements.
into
transported
Absence of
material.
to
war
industries."
meet
inter-
shipping, coupled with reduced motor truck transportation due.
and tire shortage, added further abnormal traffic to the
The largest demand for service ever made on the
company
fas. met
efficiently.
Employees in the armed forces of the nation now total
gasoline
ome
of
this
number
missing in
During the
action,
have
already made the
and
some
are
supreme
prisoners
of
13,217.,
sacrifice, some'
war.
y
the'company, as an agent of the United States
reasury Department, issued to its officers and employees 376*050 war
avings bonds, series E, with a maturity value of $10,565,800.
Roundly,
2,000 employees are now purchasing war savings bonds through the
ayroll deduction plan.
Results
ncrease
year
from
in
Operations—Company
trade
and
ortation
industry that
perating
ixed
and its gross earnings of $358,142,152.08 from translargest of any previous year.
The net railway
income totaled $52,167,469, and - the income available for
were
charges
$58,769,442.
-tanding obligations, the net
Application
•ome
account
leducting
of
Available
fixed
interest
,
income
and
other
Under
Modification
Rev.
charges/ of
$40,122,339.
To
ingent
Dec.
ent.
oard
pass.,
Rev.
pass,
und,
interest accruing since 'the adoption of the modification plan
31, 1943, has been earned and paid, or provision made for paythe remaining available net
income of $25,492,151 the
as
directors
required
appropriated
75.%,
or
$19,119,113,
by the plan, leaving $6,373,038
urposes.
for the sihking
for other corporate
"
Although contingent interest for 1943 is not required to be paid
ntil May 1, 1944, the board of directors determined to pay it on and
fter
March
15,
1944.
The Commercial and Financial Chronicle
movements
carried—
which
handled
year the com¬
for
persons
receivable-
16,566,805
18,427,532
_________
receivable,—.-.^—
17,733,347
16,472,339
2,443,922
12,995
135,680
3 00.001
4,995,506
12,590,008
5,255,405
——u———
—™—_™^-
—
1,738,142
"
__>_$256,302,100
$6,752
$256,295,348
stock
60,000,000
1,136,863
oblig.__. 758,710,983 151,492,100
RR. Co.r
$256,295,348
-
58,863,137
607,218,883
665,196,818
2,396,950
2,396,950
1,211,250
1,211,250
99,350
99,350
3,193,300
3,193,300
1,965,000
;
........:
2,000,000
58,863,137
;•
'■
.
Common
stock-
Preferred
r
Held by or
for Co.
Issued
'
'
stock-
capital
2,401,950
5,000
1,211,250
•
stock—V.:,
;■
mi¬
1
•
Mortgage
,
7,613,019
6,450,524
4,162,557
171.14
167.20
115.99
2.105c
1.853c
'.
3,200,000
1,965,000
bonds
1T"
6,700
Clearfied & Mahon
"(Railway Co.:
v
Capital
stock-
'
900,000
650
bonds
650,000
649,000
Traffic and car-service balance payableContingent interest payable
899,350
Mortgage
Audited
and
accounts
Miscellaneous
Interest
matured
Unmatured
Accrued
Other
rents
tax
—
1
Insurance
Accrued
debt——
1.846C
retired
Total
through
prop,
through
sale
on
and
loss
1,257,010
675,192
92,844
264,732
130,406,465
6,737,243
™
unadjusted credits--———
Profit
13,654,687
516,719
118,647,600
of
common
inc.
inc.
4,459,515
•
Inter-company non-negotiable accountsSinking fund reserves-:
Approp. surplus not specifically invested
Premium
40.973
76,660
—
depreciation
to
82,043
3,742,208
35,269,308
9,479,552
858,014
reserve
debt
2,993,476
4,639,830
3,414,362 :
40,623
———
liabilities——-™—!—-—
funded
on
11,357,076
11,960,618
81,893
liabilities
Premium
Other
9,612,858
accrued———-
liability
current
Deferred,
650,000
.5,532,376
14,578,496
2,736,635
"4,675,969
payablepayable
unpaid
899,350
1,000
6,641,872 "
wages
accounts
Dividends matured unpaid
Unmatured interest accrued—
138.22
2.108c
650
■
Railway Co.:
Capital
stock™
Additions
1940
100,000
Allegh. &' Western
Fund,
3942
.
in
were
Years
Calendar
ll,026,309
also
persons;
547,642
1,887,004,077 1,272,898,072 748,210,150 575,345,025-
mile
Tons
13,765,536
16,246,663
20,767,503
29,013,993
&
su.rp.
7,751,008
30,997,377
&
surp.
48,750,791
stock
7,751,008
3,554,501
46,341,323
3,355,721
balance——™-
3,355,721
39,974,919
;—__
4,(346,874
;———™:' $1,322,633,092 $1,281,115,766
handled
Rev.
ton
Avge.
Rev.
86,048,712
30,037,200.
22,562,541
17,568,124
ment of
238.33
213.84
204.16
8.76
mile
8.81
8.94
9.00
1,141.66
torr-
per
1,058.14
984.02
942.16
243.96
ton
per
"
ton
per
train-
k—Income
1943
miles operated
1942
6,148.78
1941
6,246.47
1940
6,283.7$
—
mortgage
bonds,
bonds,
revenues
,
The
issue
company
of
$605,250
Total
ry, oper.
principal
1,573,219
1,690,993'
Commerce
2,933,727
3,936,753
2.584,060
prospective
2,385,564
institutional
revs.! 358,142,152 306,254,193 227,503,022 179,175,465
in
46,206,421
27,921,773
21,148,023
17,769,083.
applied
70,756,830
62,590,467
52,191,195
40,223,128
built
6,000,423
5,509,728
5,158,867
115,462,272
98,045,159
74,781,971
4,969,121
,62,090,777
3,408,607
2,870,474
1,974,176
1,574,392
8,749,799
7,303,597
5,692.087
27,903
5,986,684
12,387
of
equipment—
—1
-
Transportation
Miscell.
——
operations
General
—
for
invest.—Gr
—
..
:,
;
,
V
.
'
J
Net
rev.
Ratio
of
ry.
fr.
oper.
ry.
oper.
operating
250,584,353 204,241,199 160,918,418 132,600,799.
oper.—.107,557,799 102,012,995
66,584,604
46,574,666
exps._
exps.
revenues.
to
issued
series
amount/ subject
bidders,
The
The
a
request
C,
in
the
to
invitations
including
irivestors.
proceeds
banks,
notes
an
for
approval
have
insurance
will
be
bids
on
amount
been
of
not
the
*
proposed
exceeding
Interstate
forwarded
companies
issued
a
under
a
and
to
and assignment, dated July 1, 1944, and will mature
equal quarterly instalments beginning Dec. 1, 1944.
through the issuance of these notes is to be
by
acquired
to the purchase of 10 new diesel switching locomotives to be
the American Locomotive Co.
Delivery of the locomotives is
Director of Personnel—
The company
as
on'
B.
~
May 15 announced the appointment of F. J. Goebel
director of personnel with headquarters at Baltimore, Md., havingg
May
&
O.
over
15.
at
on
the entire .system.
He
was
Cincinnati,
formerly
Ohio.
The appointment became effectvie
Assistant General Solicitor of the.
■
•
*
■
66.97%
66.69%/
70.73%
74.01%'
W. G. Carl, formerly Assistant to the Vice-President, is
appointed
Superintendent of Wage-Bureau-at Baltimore.—V. 159, p. 1967.
(Reg. U. S. Patent Office) William B. Dana Company, Publishers, 25 Spruce
St., New York 7, N. Y., BEekman 3-3341. Herbert D. Seibert, Editor and
Publisher;
D. Riggs, Business Manager.
Published twice a week [every Thursday
(general news and advertising issue) with a statistical issue on Monday]. Other
(Telephone: State 0613), in charge of Fred H. Gray, Western
Representative; 1 Drapers' Gardens, London, E. C., England, c/o Edwards & Smith. Copyright
1944 by William B. Dana Company.
Reentered as second-class matter February 25, 1942, at the post office at New
York, N. Y., under the Act of March 3, 1879.
Subscriptions in United States and
Possessions, $26.00 per year; in Dominion of Canada, $27.50 per year; South and Central America,
Spain, Mexico and Cuba, $29.50 per year; Great Britain, Continental Europe (exceot
Spain), Asia,
Australia and Africa, $31.00 per year.
NOTE; On account of the fluctuations in the rates of.
exchange, remittances for foreign subscriptions and advertisements must be made in New York
fund**
William
offices;
Dana
135
Seibert, President: William
Salle St., Chicago 3, 111.
S. La
61
other
conditional
expected to begin in July.
jurisdiction
*
Total
;
;
consecutive
Maint.
Traffic
,
10
notes,
Commission.
agreement
40
Ry. Oper. Expenses—
Maint." Of way & struct.
The
May
on
promissory
3,102,180
5,728,677
sale
:
V
.
..Ask For Bids On $605,250 Promissory Notes—
2,429,459
8,150,177
series F, $2,800,000; Monongahela Ry. Co.
first
series B, $10,854,000; Dayton Union Ry, general
$3,450,000, and solely guarantees Alton RR. Co. note
mortgage bonds,
for $861,333.-
3,602,734
rev.—
34, 1943, the following securities bear the endorse¬
& Ohio RR. jointly with other companies, viz.:
Indiana
Terminal RR.
first
mortgage sterling bonds,
$7,041,777; Washington Terminal Co. first mortgage bonds, $11,915,000;
Cincinnati Union Terminal Co: first mortgage bonds, series E, $11,718,000 and first mortgage bonds, series D, $24,000,000, and first-
3,092,129
transport
interest due May 1, 1941, $1,267,844
due May 1, 1943, but not as yet
"6,292.88
299,636,856 264,566,740 201,782,937 158,106,838
39,755,440
26,795.735- 13,861.068
10,619,307
3,904,816
3,631,401
3,415,317
3,288,703
Passenger
Mail;
.
contingent
Baltimore
&
$
—
the
Kentucky
mortgage
Account, Years Ended Dec. 31
Ry. Oper. Revenues—
i_-——
$780,401
l, 1942, and $1,022,239
by those entitled thereto.
Note—As of Dec.
34,211,726
(mills)
mile
125,950,503 105,512,827
(000
—
rate
mile
May
collected
140,236,021
omitted)
Avge. miles
"Includes
due
freight
rev.
'
Transp
;
taxed the company's equipment and
total of 1,629,785 members of the armed forces
:?
-v:
a
miles
Miscellaneous
this
110
7,574~874
8,515,310
&
'
Other
From
of
train
Express
iji-
after
mount has been added $35,150 representing net of other than cash,
djustments pertaining to income account of prior years, as required
nder the plan.
The board of directors appropriated $5,052,480 for
apital fund to reimburse the company's treasury for capital expendiures, and $9,612,859 for payment of contingent interest accrued durng the year 1943 from this available adjusted net income.
All cono
in
Avge. miles per pass,
Avge. rate per pass.
Freight
.
Plan—The
ether purposes,
available for
work
1943
•
After providing for charges on all out-,
income amounted to $30,509,480.
«
;
Transportation,
and providing
Statistics
Avge.
•
Income
shows audited
regular
12,769
the
was
Defense
volume of passenger traffic
shared proportionately in theprevailed throughout the nation
uring the year,
3,652,353
14,638
conductors
assets—
'
to
military service,
transported.
aiiroads.
re
-
Dayton & Michigan
previ¬
fields.
This
facilities, at times, almost beyond capacity.
During the
pany'operated 3,613 military trains carrying 1,082,143
"nilitary
and
of
continued
The
President,
oastal
o
Office
■
coast-wise
agts.
supplies
stock
Int.-bear.
all
closq harmony with the various Federal^
agencies, shippers and1 other carriers, with mutually beneficial results.
witnessed transportation geared to the largeglobal war.
The volume of traffic handled by the1
anything heretofore thought possible.
Large quan¬
and
anufactured
eeas
White,
has
year
of
exceeded
of
B.
•
30,69i~625
—
$1,322,633,092 $1,281,115,766
Preferred
vv..;
coal produced
heavier loading of cars,
depreciation,
tates, in part:
from
dividends
current
3,558,974
15,996,679
5,672,981
accounts
and
and
Common
char*
and
through its orders for the
for more expeditious routes, has'
greatly aided the carriers, in accelerating the movement of traffic, all
resulting in a considerable conservation of equipment.
The company
1941
$506,831
share—
com.
of secured conting. int.
investments—
Home Ave. RR. Co.
movement
records,
class
1942
6,748,173
10,373.109
Total
acquired.
so
company's lines, and the development of new coal operations con¬
summated
during the year is estimated to produce 6,300,000 tons
annually when the new mines- are in full operation.
'
$682,467
6,549,541
3,479,186
receivable
Liabilities—
company
Storage yards/ for the storage in transit of war materials for ex¬
port, have continued to provide an efficient method for handling this
|$311,499
91,953,221
Unadjusted debits
an
the
Co.—Earnings—
1944
Other
$68,520,350
notwithstanding, several strikes in the coal
commodity constitutes the largest single item of traffic originating on
•
$236,739
profit
$774,078
305,412
3,329,186
150,000
Total
-
2 Mos. End. Mar. 31—
92,045,787
Unpledged
.
bills
Miscellaneous
While new industrial plant construction for war industries has virtu¬
payable and accrued expenses, $2,264; provision
taxes, $509;
capital stock (par $5), $77,945; capital surplus;
"242,035; earned surplus, $4,800; unrealized net appropriation of inestments, $85,366; total, $412,920.—V. 159, p. 1142.
Net
268,399
6,244,129
™VV
deposits
and
of
throughout the
Liabilities—Account
.
28,313,993
companies:
.
and Feb. 25, 1943,
$29,272,150, and on
traffic.
Transportation by coastal vessels was greatly cur¬
necessitating rail movement for commodities usually waterborne; for example, oh movement in tank cars averaged 850 cars a
day
31, 1944
(Including U. S. and Canadian subsidiaries)
3,747,789
844,095
252,562
45,350,081
for
Temporary
Loans
tailed,
for
Bausch & Lomb Optical
of
holds
acter
12.435
on
deposit with custodian, $54,058; investments at
(cost $256,172), $341,538; dividends receivable and inter$955; receivable on subscription to capital stock, $16,048;
charges,
of
1943,
General—The
;
:
Assets—Cash
arket value
37,763,500
11,073,586
3,698,503
—T—
Special
sinking fund created pursuant, to the 1938 plan
brought about by use of other funds of the
ing fund and $1,062,000 to mortgage trustees.
$7,428
profit from
25.
cost
still
Net
property
funds--™,™-"-—
prop, sold
mortgaged
__r_™™
Cash res.
average of
$52.94
per
$100 principal amount.
Subsequently,
the
Terminal company sold $54,795,450 of the bonds and notes to the sink¬
$12,020
2^.21—-^^22^2-^-22-—
19,405,721
other
Miscellaneous
•
'
:
16,626,033
37,784,250
$91,179,143
Bonds.
principal
amount of bonds
and notes
in the
two
operations.
The accepted
tenders were assigned to the New York Transit & Terminal
Co., Ltd.,
a
wholly-owned subsidiary which acquired the bonds and notes at a
$10,835
.
was
16,010,450
20,750
company.
March
—™---™_™-22-2-2,-P'P;
bonds
on
Expenses
Months
Nine
for
■;
balance
,.
Unpledged
$1,450,286
miscell.
Stocks
interest-bearing Obligations totaled
Jn accordance with invitations of Dec. 21, 1942,
the company accepted tenders on Jan.
20, 1943, of
Axe-Houghton Fund B, Inc.—EarningsCash
the
10,450,20Q
15,945,835
Deferred .assets
operation of the
7,824,119
9,766,200
3,459,886
of
Investments- in
Interest
and
7,467,817
reserves.
Materials
common
400,710,466
held
37,763,500-
sinking
lieu
in
operated:
„
other
in
& Terminal Co., Ltd.), ..resulting in a reduction in annual
charges of $3,956,601.
Of the total reduction in outstanding
indebtedness, $61,466,550 principal amount was accomplished through
on
properties
Pledged
$14,560,164
Investment
Between Aug. 15, 1938, when the plan for modification of interest
charges and maturities was offered, and Dec. 31, 1943, system
interest;
bearing obligations outstanding in the hands of the public, other than
equipments, have been reduced by $83,139,148 principal amount (in¬
cluding those now held by the company arid its. subsidiary,, New York
record
273.894,625
Cr6,238,532
con¬
purposes___
separately
U-
'
'.Deposit
^
.r
278,787,818
Cr6,760,009
393,907,105
as
company
physical
transportation
Pledged
$58,661,935.
$1,-
of
operated
■■p Perpetual leaseholds—cap. (per contra)
JnvestmentsJn subsid. and affiliated com¬
reserves
to -provide for post¬
the-period when the
1942
,
$312,988,373
grunts
parts
'1; Miscellaneous
Miscellaneous
of Debt—During the year 1943, through the operation of.
sinking fund, created pursuant to the 1938 plan, the company
and'cancelled $57,537,050 of outstanding system secured obli¬
gations." 1 Thei net reduction in
of-
companies
'
doing the largest business in their history it is felt
business emphasizes the desirability of amending tax laws
permit the
and
Subsidiary
,,
to obtain permission to set
31
1943
;
,
——
Donations
Eonds
;
Dec.
■'
%
,
.V Equipment
by
Transit
cents
payable
$5,
par
Sheet,
•
$316,509,472
■
the' company had to earn for similar
^
.
V
the
dividend
Balance
,
retired
Atlas Drop Forge Co.—50-Cent Dividend—
A
stock,
trackage rights between Phila. and Jersey City.
General
(interest
'
38,863,245
•Investments In:
RR'.
Alton
are
as" to.
so
the
22■:V,
■
stock
in
e>\Reduction
Atlantic
and has necessitated
v%'-.v'; vv'X
facilities.
new
of
reduced
were
to -co\rr •accumulating-deferred maintenance and
rehabilitation, of railroad properties.
During
:2--2%'-' .'.S
policyholders has
Increased more than five' fold, and the number of brokers
placing
business with Atlantic from 800 to- over 3,000.
This increase, accom¬
panied, by a
corresponding expansion
in fire, inland marine,
and>
other lines outside the marine field, has put Atlantic under
increasing
'
taxes
investment
war
Indemnity Co. He stated that the new company is being organized to
enable the Atlantic to give a complete insurance service to the owners
of
income
accounts to
•%tft6rik"halve""'failed;thus:'far
,
.
May 9 announced the formation
the name of The Atlantic Mutual
on
Federal
1942
This compares with 2.54%
purposes'
"
^0 Serve Casualty. Field—
54,603,873
56,680,159
Assets—
Railway,tax accruals absorbed 13 cents of each dollar of total operat¬
ing revenues in 1943 and 43 cents of every dollar of net railway oper¬
ating revenues,-compared with eight cents and 25 cents in 1942.
Th?
company had to earn 4.68%
on
roundly $1,000,000,000 of property
investment devoted: to transportation service to pay the tax bill of
40,417
^
78,229,401
.
excess
v.
228,797
.
8,244,714
60,805,437
"Excludes passenger
Railroad retirement and unemployment taxes have increased on account
of greater employment, and higher wages; also an increase of the rate
from 3% to 3 %i%. for retirement annuities.
$308,425
260,873
.
30,618,531
8,306,748
20,683,098
Net
"27,760
,
profits taxes increased $18,943,098 during
compared with -year 1942, due to increase in income and
1943,
year
189.850
!-
$1,358,704
287,852 -■■"( 320,271
46,297,125
8,670,683
profit
$221,794
y'■V.
■■■■.
Federal income and
'also
$118,575
$761,981
—_
Provision
%
$760,470
69,558,718
8,637,968
40,122,338
$46,757,209 $25,381,023 $21,376,186
writing, out of the
,
52,167,469
income
Secured
21,403,946
—
total
"Decrease.
:»
;
$6,886,469';
:—
46,457,959
25,054,013
accruals—,299,251, '327,011
tax
1.665,999
15,956,134
"
-
;
accruals
Miscellaneous
140,066
1,815,344
20,287,480
income_%
oper.
Unsecur.
;* Total— yyyyyyy_y—yyy $7,108,253
1942
2—
revenues
1,660,065
32,454,277
Contingent Int. Chgs.—
317,21,7
.
'
Operating
Operating
1,888,002
Net
"95,423
•
1,505,098
11,645,695
2,644,440
roads & other charges
.
>
2,692;030
Interest, rent for leased
'Total ;yyiL_—_y_—$39,349,696 $18,167,544
$21,182,152
State, local and other taxes:
*
'
" -V
"
'
"•
•■'('
15,780,106
5,740,199
55,390,331
oper,
income
Gross
:
"
ago.
ry.
Other
25,054,013
phgs,
—————————————
,
.1,110,584
3,881,342
102,305
Net
46,457,959
7,044,370
(net
rents
TQtal oth,
280,553
;■
facil.
debit),
Increase
$5,511,830
4,609,378
-
'
>V—
906,256
4,992,107
-
$21,-
1942
13,431,268
...
Railroad
of
$9,676,671
$15,188,501
Excess profits.——--r
Capital stock
1
v v
State,
taxes of
all
' Income (normal":and -surtax
;
,
year
\
totalrfor
a
-Federal''taxes:
■
Corp. report for the week
ended May 12, 1944, net-electric output of the Associated Gas &
Elec¬
tric Group was 134,440,979 units (kwh); This is an increase of
4,272,—V.
Federal,
2075
Joint,
Electric
&
for.
Railway tax accrualsEquip. rents (net debit)
'376,186,
48,865
$0.33
t
'
•
accruals
$299,250,'or
200,000
$2,568,647,, $1,601,361
.
■-Accruals—Railway, tax
other taxes for;the year 1943 aggregated
$46,457,959, end miscellaneous
tax
accruals covering property not
used in operation amounted to
Mar. 28,'42
200,000
$1,439,584
2,744
and taxes
'
•
.
27,'if
Mar.
200,000
—
share
per
159, p.
! Tax
and
upon
the
stock
of
Note—The
1858, 1347.
is made.—V. 158, p.
Shortly before the offering
determined
year.—V.
159,
159,
1755..
p.
•.,..,/
.
„
...
1943
$892,739
—
$759,044
15,342
17,018
$318,038
$458,608
~3^057
6,468
Net
profit
share-..:
Note—Dividends paid on
March 31,
617,000
; w
common
amounted to $81,940.
1944,
;/v/.-..V S:.
'
Profit
(trade)
able
$1,172,846
776,662
inventories
Merchandise
9,890
664,311
167,713
677.133
1
$7,075,654
$7,089,839
_______
Total '
;
•
Accounts
$1,000,000
.559,380
140,070
91.166
123,614
______
7,447
receivable
17,711
v
for
employees'
war
Miscellaneous
Common
held
Shares
bonds.:
9,174
Capital
in
surplus
surplus
Earned
V>-.
. . . v'/.
Aeronautical
Corp.
__
__________
May 13.
quarter
1,341.092
2,035,960
was
1,341.092
2,022,920
and
has
the
with
been
company
for
a
$7,075,654.
all connec¬
^
deducting
$1,203,820.—V.
William
H.
elected Chairman
for a number
"Net
Mr. Henshaw, William F. Kurtz,
Peacock, Mr. Soucek and George
Mr.
Morton,
159, p. 1443.
continued
and
year,
,
V\v':NVr
3 Months Ended March 31—
:
Consolidated
refunds the previous
amounting
1.79%
to
the
for
income
net
of net
sales
year
amounted to $129,811,741.
fiscal
1943
year
and equivalents to
was
$14,722,704,
$6.95 a share
of
capital stock, compared with $5.90 a share the previous year.
Although
net
sales
increased
$363,341,207, earnings
for 1943 increased only
$2,258,508
over
for
earnings
the
fiscal
1942
which
year,
were
$12,-
464.196.
The .net,
direct
Income for 1943
.
depreciation
gencies.
was
for
$44,000,000
taxes,
a
amortization,
and
after .provision, of $77,377,600* .for, all
renegotiation refund, $2,674,915 for
and $7,500,000 for post-war contin¬
••"V.".
'
"
"
'■
■/"•'•/ ':V:
'-•,-•'•/
the report pointed
out./* Although a formal
written agreement has not been executed,
officers of the company are of the opinion, based upon statements
made to them by representatives of the Army Air Forces Price Adjust¬
ment Board, New York, that the $44,000,000 set aside from 1943 in¬
come
will be approved by
the War Department Price Adjustment
The
income
it
Board,
for
1943
is
subject
to
stated.
was
renegotiation,
1
<
company's backlog of unfilled orders on Sept. 30, 1943, was
$1,018,901,100, compared with $1,144,050,200 a year earlier.
Discuss¬
ing the outlook for this year, Mr. Breech said it is reasonable to
expect that terminations will occur in large volume if the war in
Europe ends during 1944. and that despite the continued great demand
for aircraft it is not likely that the output of aircraft components
The
designed and produced by Bendix will increase materially over present
levels.
In many instances it may show some declines, he added.—
V.
159,
p.
1967.
(The) Best Foods, Inc.—Earnings—
1944—3 Mos.—1943
Period End. Mar. 31—
before
Profit
prov.
for
for
Total
Other
Fed.
inc.
profits
excess
net
_
1944—9 Mos.—1943
C.
Westervelt.
profit.
.
amounted to $387,000 in 1944, $357,500
•-
Corp.—Renegotiation-
delivered
1943
1942
,
April 21, 1944, of the renegotiation agreement
Shipbuilding Corp.
It resulted in the allowance of a
before deductions. !'/^::
,
The California company earned $27,257,524 under the "terms of the
fcontracts under consideration, but it was- mutually agreed that $10,706,200 of this represented excessive-profit.
(E.
with
-
,
^
.
......
Dec.
on
17 declared
May
20 cents.—V. 158,
7,
renegotiation, and other
./'-
>
'/;
I;'--:;)-.'v.'.-'/.'•:
A
.
special meeting of the stockholders has been called for June 15,
to consider and vote upon a plan for the refinancing of the
$48,000,000 funded debt of the company.
This will be accom¬
plished by the issuance,of $30,000,000 new
and
ing manner:
.<
/
Total
Reduction
funded
new
of
debt
of the issue by maturity. The deben¬
sinking fund would be of two kinds—fixed and contingent upon
mortgage bonds would retire 40%
ture
earnings.
favorable money
problem of. the
the entire debt on a 25-year
basis at favorable interest rates. In order to accomplish
an overall
refunding of the outstanding debt, it will be necessary to pay interest
on
two non-callable issue to their respective maturity dates and to
pay the redemption premiums on the issues which are to be called,
but the board of directors believe that these costs will be more than
offset by substantial interest savings to be effected under the refund¬
In-the opinion of
market
affords
company's
an
early
the board of directors the current
opportune time to eliminate the
maturities
and place
plan.
•
To put the refunding program into effect it is necessary to obtain
approval by the stockholders of the proposed plan, including Specific
consent to the execution of a new mortgage, as well
obtaining
authorization of the New York P. S. Commission and registration of
the debentures with the Securities and Exchange Coihmissidn.
Al¬
$679,045
$0.45
$2,511,879
$1,385,191
stockholders
$1.67
$0.92
interrelated.
118,820
though
a
vote
of
stockholders
issuance of the new debentures,
The
Citv
for
their
approval,
necessary fcr the creation or
this matter also is being submitted to
is not
since
the entire
pldn of financing is
6,146,000
5,343,00
V/.'v
to Purchase DebenturesCo., trustee, 22 William St., New
incl. May 19, 1944, to receive bids fo
Trust
Farmers
Bank
;
York, N. Y., offered up to and
the sale to it of approximately
Sinking fund debentures
and interest.
Outstanding
$48,000,000
2 559 326
$0.58
6,000,000
bonds and debentures will mature on Aug. 1, 1969.
The new mortgage bonds will bear interest'at the rate of 33A%, and
the sinking fund debentures at a rate to be fixed by the board of
directors at the time of issuance.
The proposed sinking fund on the
$1,504,011
share__^_
company's
Total
$2,511,879
per
from
The new mortgage
$679,045
Earnings
cash
:
$867,875
$867,875
by
treasury
2,781,531
profit____
$42,000,000
debt____
outstanding
:/;r
Carrier Corp.—Offers
;v
$5,026,000
...
■'
—V.t 159, P. 1968.
1943
$5,773,000
earnings
Traffic
'
1944
Week Ended May 14—
: 12,000,000
(callabl*)
Railway—Earnings—t
"traffic earnings
.
bentures
.'V '1
quarterly dividend of $1.75
Week Ended May 7—
V'..:
privately to
$5,293,410
net
:v ';'''
;*
insurance; companies and others of new
25-year mortgage bonds (callable)___
$30,000,000
To be underwritten and offered publicly new 25-year de« ;; ;'/ ;
„
;
Sale
declared the regular
on
Canadian Pacific
buyers
bentures
■" //
..■
also
directors
share
institu¬
mortgage bonds to
and the public offering of $12,000,000 sinking fund de¬
payment out of company funds , of $6,000,000.
Of the
total funded debt, $38,000,000 matures within the next six years.
The
rates of interest payable on these securities are 5% and 6%.
v .
It is proposed to accomplish the purpose of the plan in the follow¬
tional
amount to $4,006,137,
.
the 7% cumulative participating preferred stock, par
$100, payable June 30 to holders of record June 15.
A similar dividend,
plus a participating dividend of 53 cents per share, were paid on the
preferred stock on March 31, 1944.—V, 159, p. 1652.
y/,y,:.-:
1944,
1,232,314
deductions
The
per
entire
$1,911,359
Consol.
quarter during 1943.
^-iv^
.;,//
Federal income taxes, will
vessel.—V. 102, p. 1348.
Ltd.—Extra DistributionThe directors on May 16 declared an extra dividend of 25 cents per
share and the usual quarterly dividend"of 25 cents per share on the
common stock, no par value, both payable June 30 to holders of record
June 15.
A similar extra was paid on March 31, last, and in each
Co.—To
Securities—'
net
that
attributable to these contracts after
Canadian Celanese,
Refinance $48,000,000
Through Private And Public Issuance Of
Funded Debt
$17,884 per
or
•
a
p. 2040.
Gas
Union
Brooklyn
to $14,696,137.
of the contractor
income
net
aggregating $1,855,187 reduced the
The Commission estimated
expenses
after renegotiation
fee
dividend of 15 cents per share
on
the common stock, par $5, payable June 14 to holders of record
May 31.
Payments last year were as follows:
June 4, 15 cents, and
directors
The
Oregon
$16,551,324.24
Non-reimbursable
..
contracts.—V. 158, p. 2463.
f
the
of
fee
Co., Birdsboro, Pa.—15-Cent
Brooke Iron
G.)
&
Dividend-x-
864,553
$4,063,337
announcement on
the
.
the
$1,732,428
and
taxes__
contingencies for the
income taxes and
renegotiation agreement applying to the first four" contracts with
this corporation covering 224 Liberty cargo ships was announced on
May 10 bv the United States Maritime Commission.
The first contract
was
signed
March
14.
1941, and the last ship
was
July 28, 1943.
.
•,
ii'
j t
The over-all rating applied was based upon the formula outlined in
Mr. Lockwood,
ing
,
Fed. tax based on inc.
Prov.
1
b
v
*
1942.—V. 159, p. 1443.
Shipbuilding
California
Subs.)—Earnings—
1944
.
ments, and for renegotiation of war
■ ,
reductions the company is con¬
doing its war-time, job on a limited profit
basis," Mr. Breech said.
"In meeting this obligation, unusual circum¬
stances have been encounteied because of the'almost unique position
of Bendix as
the originator' of a great many entirely; new devices
which, upon adoption by the armed services, have been put in volume
production."' ',
■' ''■■■/. /.'?/',- .//:.:-1.//'''/"/V/
In addition to retroactive refunds, price
reductions totaling $159,914,300 were made on unfilled and new orders during the 1943 fiscal
year.
This was done, he said, in spite of increases in wages, materials
and other elements of cost.
Price reductions on unfilled orders and
price
ivy!'':-:..'
,
A
^
\ $1,183,724: // $921,824
Ea'rns, ;per corn.-share outitand'g; V;,$0.74 / "ff;{/r$.p.61,c^,^}';.$0.4'7
^'"After deducting all charges, whicl) include,,provision for,•depreciav
tion, amortization,-taxes on income, contingencies,/post-war adjust¬
its stated policy of
retroactive
.
for Federal
months ended March 31
1943 and $40,000 in
in
these retroactive price
making
Note—Provision
three
$1,441,299
"Net " earnings.;
to make,,important
'/•:.)>
$6,811,741.
"In
518,460.shares.
tOn
;•...;/•./.■
;
neering and production contributions to the increased
tinuing
share
depreciation, int. on
'After
-
-
1944
1943
,
1942
$165,984
$113,865
$170,217
*
$0.28
$0.18
$0.29
funded debt,1 Federal Income /taxes, etc.
^ /y:',:/-'-/:;:
_
•
iZ
profit
•{•Earnings per common
■
number of years.
Harman,
Mr.
—V.
engi¬
efficiency of pur
armed services. Ernest R. Breech, President, fold stockholders in the
annual report mailed May 18.
/*.■'■.'
Mr. Breech reported that Bendix's consolidated gross sales, royal¬
ties and iother: operating income, less discounts, returns and allow¬
ances,
rose
to $918,753,4.65 'in the 1943 fiscal year,
equivalent to
approximately twice the volume. $465,980,768, for the fiscal year 1942.
Net sales', royalties, and other operating income amounted to $822,510,234 after deducting refunds due to retroactive price adjustments in"'
the amount of $96,243,231
for the fiscal year 1943, compared with
$459,169,027' for the fiscal year
1942 after .deducting refunds of
the previous
:V
Co.—Earnings—
tion
£ Corporation in the fiscal'year ended Sept. 30, 1943, doubled its
of
of com¬
by Van
f
159, p. 836.
Bendix Aviation Corp.—Doubles Output In Fiscal Year
butput
/:://Vy;^:
Quarters Ended March 31—
Peter J.
reserves
Briggs Manufacturing Co. (&
>
Corp.—Registers With SEC-
Bush Terminal
/
posts of Treasurer and Secretary were not filled at the organiza¬
meeting.
Robert A. Smith was elected Assistant Treasurer, and
Neary, Thomas Meuer and Miss C. Frances Ryan were elected
Assistant Secretaries.
•
,'/,/■'' /^'""/,, //Z;.::
"v
Elected to the new board were James Work (a former President),
$7,089,83.9
for -doubtful
accounts .and ../notes:
March 31, 1944, $46,383; Dec. 31, 1943, $40,852; reserve for discounts:
March 31, 1944, $39,330;
Dec. 31, 1943, $21,497. .'.tAfter deducting
reserves .for depreciation
of $1,621,182 in March, 1944,. and $1,600,179
in December, 1943.
JAfter deducting U. S. Treasury tax "Savings cer¬
tificates and accrued interest: March, 1944, $1,103,800; December, 1943,
"After
$1,721,506
660,548
$2.44
& Co,
Noel
1443.
p.
/
The
——i-—"
Total
.,
Apr. 3, '43 Mar. 28, '42
$2,074,421 $1,864,259
/ 869,888 '
873,898
$2,20
'■■■'•/ $1.95
and Carlton M. Higbic Corp.
/■/'/"
/ The money will be used principally to
carry larger inventories and
accounts receivable occasioned by expansion in the last year.—V. 159,
Lockwood, Secretary, and with the company
Soucek
Mr.
Apr. 1, '44.
corporation has registered with the SEC 200,000 shares
stock for public offering through a syndicate headed
Alstyne,
President. ', Zues Soucek, Dan
years,
"
profit
mon
C.'Peacock, Jr., and Lamond
F. Henshaw were elected Vice-Presidents.
Messrs, Peacock and Hen¬
shaw■•'•were members of the operating committee set up by Mr. Kaiser
of
Dr209,081
,
regime,
.
'
»■* • V
under the.Kaiser
.
The
:;
associated of Henry J. Kaiser and labor relations
for Brewster
and Preston
1652. '
p.
Burry Biscuit
the company.
F. Morton,
Harry
counsel
25, May 27
159,
counter claims against the
and
Department,
Navy
declared on the common
holders of record May 15. A distribu¬
Feb. 28, last. Payments in 1943 were
and Aug. 27, 45 cents each,, and Nov, 29,
-*
'' <
share has been
after all chgs., inch taxes
Outstanding common shares..,
/Earnings per share———V. 159, p. 347.
Management
New
■"■;,/•
//i ■'
Co.—45-Cent Distribution-
Burlington Mills Corp. (& Subs.) —Earnings—
:''
—
the British government by the corporation.
Kaiser and his son, Henry J. Kaiser, Jr., has severed
Mr.
1,757.200
Dr209,081
—
—
the
by
company
200,000
1,757,200
shares
treasury_.___._v.^_.u—
par
cents.—V.
y
Navy and
5.693
200,000
__________
....
____
contingencies
stock (465,032 no
follows:
65
share on
$25, payable May 25 to holders of record
was made on Feb. 25, last, and in each
Chairman
Brown,
of 45 cents per
Feb.
as
Distribution-
declared a dividend of 50 cents per
1943.yV. 159, p. 546.
tions with
for
Reserve
during
18,788
balances)
(credit
1
dividend
A
is greatly in excess of the
business is
of the board, said on
date last year, and the backlog of
the same
stock, par $1, payable May 25 to
tion of like amount was made on
corporation is currently operating on a profitable basis, Henry
J. Kaiser, retiring President, told stockholders at the annual meeting
held on May 17.
He said, however, that the books for 1943 had not
been closed because of a number of substantial claims against the
withheld under payroll allotment plan
Amounts
;
of this company
business
of
of
as
6 Months Ended—
directors on May 8
Brewster
145,089
132,215;
■
Accounts
.
A
v
$1,000,000
537,007
(other)__________
and withheld
May
$1.81
$1.39
a
satisfactory," - James
12.—V. 159. p. 836.
very
1858.
p.
the capital stock, par
similar distribution
181,195
140,836
payable (banks and bankers
payable (trade)_
expenses, wages, etc
Accrued Federal and excess profits taxes™
Notes
accrued
$2.03
300,000
7a'4-V':
5 M. B. Sackheim
1, 1944. Ames C.
.
volume
$702,050
>
and
Agency,
/."Volume
,
610,900
$761,497
President—Volume Of
date to succeed him....
President of Sackheim & Sherman
founder and Treasurer of Book-of-the-l
Month Club of New York, will return to that city and again enter
the advertising field, although remaining on the board of The Brown
Fence & Wire Co.
■/•■'.'
Vi
;
v
The
Accrued
Taxes
1,348,750
v
sh
per com.
159,
The
V.;:'
Liabilities—
493,400
$522,986
300,000
:
$1.48
(The) Boss Mfg. Co.—50-Cent
239,594
1
charges
Goodwill
927,150
shs
com.
company
Higher—/•'■;■
Advertising
Net
160,681
assets
-
v
160,526
assets
Other
Deferred
—V.
3,945
2,358,652
advances to affiliated cos.
and
in
Investments
_____
of
the
1
/Winger was elected as of the same
Mr. Sackheim, who was lormer.ly
1,312,950
,
$493,854
profit
Earns,
1,519,131
1,823
"1,900.721
receivable—
i—
notes
Net
Number
1,788,350
_________——
and
accounts
Miscellaneous
tFixed
on
2,110,247
Mr.
At a meeting of the board of directors held on May
tendered his resignation as President, effective July
$33,686,458 $29,731,085
.
succeeds
Comptroller,
Assistant
Brown Fence & Wire Co.—New
Business
" 1944—12 Mos.—1943 ;
1,016,386
health'.
of
siv
.
Buffalo Forge
1944—6 Mos.—1943
of R. H.
R, R. Nor¬
exception
the
of ill
as
Subs.)—Earnings—
1,421,004
etc.
depre.,
Federal taxes on income
Dec. 31, '43
1,075,161
hand and in transit—
U. S. Government securities at cost—
^Accounts, notes and trade acceptances receiv¬
banks,
in
31, '44
$1,307,158
Mar.
Assets-
after
with
reelected
were
will make its semi-annual payment
interest on its general mortgage 5%'
cumulative bonds for the
months ending May 31.—V. 159, p. 1756.
'/;/./ ;.
r:
current assets of
$18,502,986 $16,991,003
Period End. Jan. 31—
,
Sales
-i'
T
,
June
On
,
1944, shows net
of April'l,
as
1
;
•
Marshall
Comptroller,
an
Bloomingdale Bros., Inc. (&
v.
Comparative Balance Sheet
Cash
sheet,
balance
subsidiary,
Canadian
its
wood,. previously
increase of $132,183 compared with Dec. 31. 1943.
•This is equivalent, after deducting the preferred stock at par,, to $47.04
per share on the common stock.
The ratio of current assets to current
liabilities was 8.9 to 1.—V. 159, p. 1967.
v
•
■"/,/> '•••;■■■'
$94,980
$151,140
$154,234
$0.23
$0.37
$0.37
stock for the three months ended
______
Earnings per common
The
$17,393,194,
Officers—To
other
.
Marshall,. Comptrojigw who resigned because
uncertain./.Production of carpets and
the company's inability to
cotton, jute and jute substi¬
tutes, as well as the shortage of man-power.
3,921
301,000
220,000
2—
profits' taxes'
-
excess
and
continues restricted, due largely to
secure adequate supplies of carpet wools,
rugs
$776,062
:/
last half of the year is.
for the
907
(net)—
Federal income &
for
19,872
$443,266
'
•
'
Prov.
469,277
./
20,482
'
income
Expenses of inactive props,
Miscellaneous charges
21,196
.
$297,555
.——
_
21,003
"h-
•'
428,278
413,964
:-•/;•
$1,248,194
.
postponed meetings held last week Frederic G. Coburn, President,
directors and officers of this company and Brown Corp.,
At
t$65,337
J$252,268
V$0.67
profit
.entitled to receive,,.
V,
.'-r-.'--The'company's net sales for the first quarter of 1944 amounted to
$9,632,989, an increase of $964,182, or 11%
over the corresponding
period of 1943.
War materials accounted for $6,506,557 of the total
sales, and civilian production $3,126,432.
The unfilled backlog of war
orders on the company's books as of April 1 amounted to $8,000,000,
of which $6,000,000 is for delivery before Aug. 1, 1944.
■/;■■. *//>'//./•■*
John A, Sweetser, President of the company,' states that while opera¬
tions for the second quarter are continuing satisfactorily, the outlook
1942
1944
Other income
Total
$0,58
Co.—Earnings
general & admin.' expenses
Depreciation
Hi
Operating profit
$139,944
$732,521
Mar. 27, '43 Apr. 4, '42
Apr. 1, '44
1755.
159, p.
Company, Berlin, N. H.—Elects
Make Bond Interest Payment June 1—
Brown
,
$467,676
Earnings per common share.
Nil ;
$1,36
"After
depreciation and estimated Federal normal and surtaxes.
tLoss.
lAiter
depreciation charges of $215,210 and deduction of
$180,000 for estimated Federal normal and surtaxes.
These figures
do not include any refund on Federal, taxes which the company will be
*Net
i i>i»:
Selling,
/
$91,20.6
,
March 31—
profit
operating
Gross
and taxes___-_--
tioned above.—V.
V
Bigelow-Sanford Carpet Co.—Earnings—
,
„
$0.38
Belding Heminway
3 Months Ended
1944
share
Earnings per common
—V.
-.V?'''
It is expected,
present fiscal
■:•.•/;;:/
v
■
Quarters Ended—
Manufacturing Co.—Earnings—
?
443.
p.
due
able).,
the provisions for excess profits taxes
into account substantial unused excess
credits carried over from previous years.
that such credits will be fully used during
tax
company
funded
ing
states that
after, taking
however,
Inc.—25-Cent Distribution— ;
dividend of 25 cents per share has been declared on the common
stock, par $1, payable June 2 to holders of record May 18.
This com¬
pares with 20
cents per share paid on March 6, last.
Payments in
1943 were as follows:' March 1. 10 cents; May 31 and July 29, 20 cents
each; Sept. 1, 10 cents, and Dec. 3, 15 cents.—V. 159, p. 634.
Beau Brummell Ties,
A
Belden
has outstanding in the Hahds of the public the follow¬
debt:
$14,000,000 first consolidated 5% bonds (not call¬
May "1, 1945; $6,000,000 first lien and refunding series A
6% bonds (not callable), due May 1, 1947; $10,000,000 first lien and
refunding series B 5% bonds (callable at 103), due May 1, 1957, and
$18,000,000 5% debenture bonds (callable at 102), due June 1, 1950.
It. is expected that the debentures will be- offered
to the public
through an underwriting group to be headed by F. S. Moseley &-Co.;
who are also acting as agents for the company in the private place¬
ment of the mortgage bond issue with the institutional buyers men¬
The
reduce the
capital;
report
calculated
are
profits
Quarter Ended March 31—
Net income after all charges
,
after giving effect to these adjustments,
consolidated
net profits for the two quarters ended/Sept. 30,
1943.
and Dec. 31,
1943, are now indicated to be 56 cents'and 53 cents a
share in lieu of 59 cents and 62 cents, a total of $1.09 a share, as
contrasted with $1.21 a share as previously reported.
invested
estimated
effective registration under the Securities Act of
making of an offer by the company, holders of com¬
record May
19 shall have the right to subscribe on
or
before June 1 for common stock ($25 par) to the extent of one
share for
each four
shares held.
The subscription price is to be
Contingent
1933,
mon
which materially
adjustments
to
effect
giving
? After
.,
Co.—Rights to Subscribe-!-
Beatrice Creamery
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2076
accrued
and
two
for
years
New
$100,000 of 10-year 4y2% convertibl
due Oct. 1, 1948, at prices not to exceed 102 V2
debentures are redeemable in whole or in part at 10
interest, and after Oct. 1, 1944, the redemption pric
will be 102 and accrued interest.
Comptroller Appointed-
Appointment of Harry M. Iverson as Comptroller of this
announced on May 9 by Cloud Wampler, President.
was
corporatio
Mr. Iverso
Arthur Andersen & Co., New York.
who formerly also served as Comptroller
has been designated Chief Financial Officer of Carrier Corp. by th
company's board of directors.—V. 158, p. 1343.
formerly was associated with
F
F
Hoyt Vice-President,
Celanese
Corp. of
America—Common Dividend Pay
able in StockThe directors
on
May 16
declared a dividend on the common
stock:
tc
value, payable Junfe 30 in common stock of the corporation
of record June 16 at the rate of one share for each 70 share,
held on that date.
A similar distribution was made on this issue 0"
March 31, last.
Regular quarterly cash dividends of 50 cents eac
were paid on
the common stock on March 31, June 30, Sept. 30 an
Dec. 31, 1943 and 1942.
The directors also declared the usual quarterly dividend of $1.75 per
share on the 7% second preferred stock, par $100, and an initial quar
no
par
holders
terly dividend of
no
p.
nar
$1.183/4 per share on the $4.75 first preferred stock
payable July 1 to holders of . record June 16.—V. 159
value, both
1756.
Volume
Number 4283
159
THE COMMERCIAL & FINANCIAL CHRONICLE
Central Illinois Electric & Gas
A. A
'.
1944
1943
^7,568,508
.revenues---—.i-
Adjusted
Adjusted
—v.
net
income„„„-.i(.-r.—762,095
income per common share™,.—
$1.90
1968.
;
net
159,
p.
The
directors
.and
the
of
$1.75
stock
$6
both
on
May 9
on
share
per
issues.—V.
the
on
made
were
stock
$7
p.
159,
March 20,
732.
and
last.
of
$1.50
•'//"
;.
States Edison, Inc.
->y
,
Gross
lows
Assets—Cash
V) 16,396
$319,004
8,356
A:'V
8,347
5,195
'
33,431
33,396
19,712
5,229.'.
1,495 '
/
* •
,
20,815
3,405 t- Ay/y
,
5,699
14,463
,.
Net-oper.
t'.l'
1
v:.>•1„•
Gross,
incomei
'
,
deductions
4,201
income
$18,659
v.;.A
:•
...
Cessna Aircraft Co.
The
directors
June
15.
the
have
shares
common
•of
$49,871
/
$51,270
3,329
A
•
.
3,608
$22,435
$53,200
4,605 y
.
-Sy.
',•>
17,037
$17,830
:
18.871
,
$36,163
shares
increase
•./'%:>
,
v
If
the
also
will
in
the
asked
be
stock
dividend
authorized
dividend
the
on
June
the
350,000
stock
common
nature.—V.
any
amend
the
articles
U.
Reserves
S.
Sheet,
Dec,
demand deposit and
on
,
use
31,
on
Government
on
payable, $150,000;
Capital
$205,876;
VV;A
20.
Last
No
Total
/:A
the
year,
stock:
Feb.
Prof., aft. all chgs.
Provision
for
but bef.
income
taxes).
Bell
has been
A* A'-'A'- :r\y
Net
.E,
fee
"On
108.361
tLoss.—V.
shares.
.
158,
provision
on
$102,609
$$80,021
$0.94
Nil
has
been
made
company
Were
Counsel
director since
a
First
for
1926,
the
and
for
made
profits
excess
and
The
directors
the
like amount
In
on
payments
1
and Dec. 24,
1942.
in
disbursed
was
addition
16 declared
to
during 1943, the
per share.
four
dividend
a
payable July
1
Jan. 1
on
payments
company on Dec. 30,
of
75
to holders of
this issue
on
quarterly
of
cents
Ended
1944—Month—1943
Fed.
income
and
8.
share
per
.
tions.
y
the
corporation
is
also
for
of
one
many
the
■
Int.
April 30
3,467,920
4,689,690
14,094,741
17,202,729
1,023,242
968,973
4,149,840
3,742,88-1
3,197,998
11,106,813
2,292,808
2,681,789
Earns,
per
Sinking
-
,
other
and
$0.30
share-
com.
1756.
12,455,738
9,199,419
—,$0.34
40,870
.'A- 170,388
9,029,031
42,800
2,251,938
,
.
2,638,989
■i
178,107
"y
10,230,812
We have
of
on
announced May 15 that $10,000,000 collateral trust
1*4.^ ihterest were, awarded to. .a group of 22 banks,
f.
1943
taxes of $128,056'.
On Dec. 29, 1943,
approximately 30
The
new
The
reduction
produced
with
1942.
the
proved
decrease
purpose
of
mile- to 0.3
equal
made
was
This decline,
costs; accounts for
For
has
rate
a
net
to
effective
years
$1
the
of; a
about
.
by
13
mill
cents
mail' revenues
pound
per
1
as
miles
perating
flown......
revenue:
Passenger and
operating
A A;/ A'A '
Dec.
y
■A.y.'
war
automobile
baggage—.
fee
.
ther
on
$2,639,041
y"
.
1;
Net
i
$395,368
per
201,633
$2,274,542
48,731
$597,000
y
come
before
•
201,633
$489,120
18,169
—______
taxes.
provision
for
income
and State
$232,501
22,401
refit
after
in
584.226
$466,719
234,427
189,000
"ncrease
ents
ents
,ents.
ing
airplane
4.4 cents.,.
to
not
tAt
been
new
$277,719
1943,
by
in
,
the
spite
,
y
a
war
necessity.
immediately
of
present
time
y;
cents,
and
Total ooerating, revenues
express
rose
we
are
from
however," increased from 75
cents to 103
cents.
Y.,
the
A
to
share
per
the
on
an
Southern
Pacific
of
RR.
of 259 tons of ice
average
carrying produce to the United
cars
prices
at
Trust
&
o'clock
it
dated
of
Nov.
not
Louis
St.
&
to
Co.,
meeting
of
Louis
Ry.—
1890,
(1)
the
at
50
The
board
to
exceed
105
principal
Public
office
Square,
of
determination
close
of
the
of
of
the
of
directors.
A
.
who
10,
are
will
Terminal Tower
Mayv25, for the
on
v
1944,
company
May
1508
company,
number
"■'■■■ ^. y -.;....
■
the
to
159,
...
Shareholders
—
business
Cleveland, Ohio,
A' .:
:-
of
A ;A
• • y-,
■
,.
shareholders
the
1944,
15,
collateral
sufficient
interest.—V.
:
■
.
Co.
.
of
as
and
%
Broadway,
first
amount
an
,
70
May
on
Division
Building
of~ those
record
trustee,
(EWT)
noon
St.
1,
Terminals
of:
pose
members
to
serve
pur¬
tjhe
on
"'A"
-
,
(2)
The
that
so
amendment
the
approved
(3)
The
the
whose
of
be
substantially
reorganization
National
regulations
in
court
Bankruptcy
the
and
company,
form
which
with
the
considered
was
:
election;
of directors, to be elected from a
qualifications and affiliations were
Bankruptcy Act,
Under
court.:
in
the
accordance
Act,
reorganization court in accordance with
National
of
by that court.
identities,
to the
code
hereafter
the
to
of
the
of
shall
same
submitted
was
requirements
accordance
to
and
the
considered
were
said .law, no
the orders
the
In
other
list
of
persons
fully
disclosed
requirements of the
and
nominations
approved
that
by
considered.
be
may
be
with
the
of
court,
the
number
of
directors
elected shall not-exceed eight,
and they shall be elected from»
following named persons, whose qualifications, have been approved
the
States
1943
subsidiaries)
fyy.'
;.
1942
221,569
the
by
f
court:
Joseph
':
and
C.
J.
J.
Anzalone,
Hostetler,
Sidney
Frederick
Weitz—V.
N.
157,
1941
114,522
Benjamin
L.
Leckie,
2246.
p.
F.
Fiery,
Galen
Joseph
Miller,
Lawrence
58,380
The
"
175,793,551 120,886,166 222,197,953
J.
Parrish
159,
directors
yY
—
7,624,620
-
6.868,520
; >
-y""'
yv
Yn-
7,378,882
the
on
has
been
named
Executive
3,000,000
'•%■■■'
3,000,000
March
and
14,466,611
8,350,000
___™
of
May
shares
11,850,000
-VY
3,250,000
9,561,982
6,526.698
$1.13
$2.20
and
Sept. 30,
16 declared
a
outstanding
May
26.
50 cents each;
and
dividend of
common
similar
A
Payments in 1943
2,080,828
war
21589,408
2,760,5338,994,347
A
,
were
follows:
as
Dec.
50 cents
stock,
8,
the
agreement
have not yet
all wholly
for
1942.
$1.50.—V.
159,
been
concluded.
Balance
•
.
.
from
.»A__—__—1
wholly owned foreign subs.
Foreign
v
,Property,
olier
firm
Holo
Krome
Deferred
>
■
"
:
'
charges
—
9d)
TotaVncpyt-^K^y—
to
the
succeed
1414.
Inc.—V.
late
■
159,
-
Exchange
'
1969.
p.
Fedl.
Corp.,
Veeder
&
Root,
Cole
Inc.,
and
subsidiary
a
of
Lucius
Will'am
Veeder
F.
A
Robin¬
A.
Purtell,
Root, Inc.,
159, p.-1551,
$4,398,157
$3,812,549
466,065
2,164,494
1,891,093
72,718
52,641
279,875
192,272
90,695
88,643
421,602
413,475
64,500
59,025
100,648
268,103
243,154
336,458
119,290
Crl0,065
Cr33,645
Crll,929
and
„_—_
tax—
profits
tax
119,000
profits
excess
Crll,900 '
State, income
1944—12 Mos.—1943
$910,295
credit
tax
1.732,495
1944—3 Mos.—1943
—
income
excess
Post-war
105,113,828
25,000,000
25,000,000
1,089,048
of
Robinson
544,685
taxes™;.
750
892
-3,266
3,568
66,948
64,804
275,841
268,870
$107,512
•
$87,642
$682,163
$692,756
44,647
209,522
145,547
$132,290
$891,684
$838,302
•
85,262.035
Other
180,135
55,871,967
83.991,979
2.335.958
taxes
profit
from
merchandise,
'
etc.,
income
:
./
i™_i—y.
30,738.
*
5.081.383
(net)—™—
Net
Net
y
4,775.819
49,0L1;985
51,533,712
2,196.817
A"ail.
2,689,070
Interest
-*
for
int..
debt
&
etc.—
disct.
.—
—
398,818,110 418,486,999
•
•
Net
Divs.
—V.
79,630
on
cap'tfll
548.
stock-
77,567
303,029
302.453
$58,619
income
159. p.
$138,250
&
expenses
Goodwill
.
733.
$1,054,908
renewals
for
Federal
Dec. 31, '43
66,473,288
of
—
replacements
166,260
assets—
plant and equipment
of
President
law
revenues
Prov.
50,870.002
on
co-st-plus-fixed-fee
contracts™™.
;
subsidiaries
and
the
Operation
2,335.958
fees
3
on
June 30
Community Public Service Co.—Earnings—
.
—I™™'.—__— 100.467,745
and
facilities
President
p.
v'AAlrVV-A
.
Period End. Mar. 31—/
Gross
$
y
Chaplin,
of
President
owned United States subsidiaries)
"
H.
Jr.
Maintenance
Sheet
Bonds for sale to employees
deposit-for purchase thereof-.-
receivable
p.
share
June
made
was
March 31,
Corp., Rochester, N, Y.
AaVa
have been elected directors.—V.
Renegotiation proceedings
Mar. 31, 44
•
.A
per
payable
distribution
Conn.—New President—
Sylvania Electric Products,
John
Savings
Investments
"
Colt's Patent Fire-Arms Mfg. Co.—New Directors—
son,
March
War
and
the
materials
contracts.
are,
1943
Radio
Colonial
See
of .the
A
rec:
to
;
Co., Hartford,
Offers—
including billable costs and
JCharged to cost of sales and
v/Ay,";'y; .-A"-', ^
'•
; A-4"
;
in
costs
;A
'
y
'
H.
Bissell
Carey has been elected
succeeding Charles L, Taylor.—V; 156,
6,600,000
4,899,233
S.
,
Fogg,
Sharpe,
Stove Co.—50-Cent Dividend—
of
record
3, last.
Collins
...
''yK :-Y:T
y
Treasury certificates—_;
supply
G.
H.
Assistant
1145.
p.
on
100,000
holders
to
4,351,132
ended
on
R.
A
Cluett, Peabody & Co., Inc.—New Official—
\-\YW
-tlnventories
Apoli'i»ti'>u
the
on
.
special
and
$1.46
■
and cash
.
Operat-y
for New Mail Fate—On March R, 1944, companv filed
an
apolicati^n for an increase in its mail rate, ,renuesting. that the
ivil Aerbnautics Board restore the rate in effect prior to Feb. 1, 1943.
Bank
sale
bonds
$55,618,
Builidng,
y
6,336,098
which
year
Unbilled
2.8
.
cents
the west coast of the State of
on
Chicago
will until 12
for
mortgage
be, held
So
3,263,349
■
104
..
25
1551.
Hanover
N.
bids
shareholders
engaged
'
amortiz.y'
approved
the
Accounts
of
ah,
63.7'
cents to
revenues
from 95
Empalme,
junction
key
Meeting— -' "A :A',A
Quarter Ended March 31
United
S.
U.
y
net
rise
a
of
1037.
A
identified
^
$1.28
.
months
tAccounts
its
in
a
Cincinnati,
Cleveland
■-y/:--;
,
is
p.
Central
absorb
p.
96,125,623
s
•
.
Board,
and non-operating income from 2.5 cents to 9.25-cents,
costs,
the
159.
York,
trust
'
Period Ended—
$128,056
mail -rate.
reduced
taxes ...for
84
.--v-'O
-itself
86,277
expenses,
would, have been $344,405,- or
over 1942.
Passenger revenues increased from
mile
>
Consolidated
$214,332
:
operating
of $66,685
ner
to
income
New
receive
3,263,349
products
Assets—
$344,405
at old-mail4•raise;
Federal
The
number -of
a
sh.
18,169
$578,831
for, period.
company's mail rate
make
1860.
,
for
in¬
—~—
"Hypothetical
H^d
did
-yy. yy -y
At
dividend
a
Seeks Tenders—
objec¬
corporation and its subsidiaries for the
31, 1944, and for the year 1943 include
subject to the provisions of the Renegotiation
Act providing for renegotiation and
recapture by the U. S. Govern¬
ment df any profits found to
be excessive.
Profits on transactions
subject to the Act appear to be within the range of profits, which
U.
Net
is
situated
are
Empalme
Cleveland,
approved
paid—^
(And
—
taxes
come
such
on
5.552,937'
and
in¬
__—
for Federal
rovision
but
■ '
.
exps^,
Note—Operations
.
three
$30,869
•
due June 1, 1967, at 105V2 and
the
Irving Trust Co., trustee,
p. 4,
;
159,
The plant produces and handles
States.—V.
.
previously
a
1969,
have declared
Coleman Lamp &
cost-plus-fixed-fee
on
"
Income
hearing
a
;.
costs "
common
expenses,
.
and
fees
contracts
deductions
for
purposes
99,992 ' '
profits
tCiviliari
2,243,673
$440,389
Y.—V.
daily, mainly for icing refrigerator
setting June 16
of. reorganization
plan
modify
pp.
190,585,5.65
dividends
JDeprec.,
fees
were
ther
Sonora.
states:
"
sales inch
11055
1,659,448
■
N.
total of
a
order
an
ICC.
company
wholly owned
profits taxes, est..
exc.
Cash
96.666
.'
$2,099,837
2.243,673
Government
to
Income Statement for
for gen. postrehabilitation...
for Fed. inc.-and'
Prov.
301,823
,62,309
11,055 A- ;: 9,689
York,
1944.
215,113,122 203,848,169 136,414,280 252,826,546
and- gen:
war
$1,864,999
96,666 '
m]
Provision
2,179,472
.606,004
7
including
income,
profits
New
.
contracts
vice
,
'v-A--
2,210,187
$1,421,835
...
operations
on
and station
freight-steam locomotives
manufacture.
Administ.,.- -engineering
.selling, advertls.,-,ser-.
31, '43 Dec. 31, '42 Dec. 31, '43
$1,864,999
expenses
from
of
h.o.,
215,613,129'203,626,600 136,299,759 252,768,166
transactions
Income
the
weapons.
2,000,000
$1,889,906
William J. Sinek, President, announces the recent
completion of the
company's first ice plant- and car icing station in Mexico.
The plant
11
rate
production-program we have faced thus far.;
is 50%
higher than during our normal
income
Earns,
operating revenue
perating
May
5,400
new
plants
'
Total
bidder
interest
an
nine
terminations of contracts, and some adjustments
same time we have had placed with us some
our
2,000,000
$1,928,968
City Ice & Fuel Co.—Completes Mexican Plant—
"Ended
666,322
;
of
under cost-plus-fixed- ?
i;:
y".
Mail
Express
in
500,000
$582,266
common
stock, payable Aug. .10 to holders of record
This compares" with 20 cents per share paid on Aug. 10.-1943,
Aug. 10, 1942.—V. 159, p. .1551.
Mexico.
the
date
yy" V
le
income
Cost of
,
Ended
2,179,472
™—™
....
'/[y i-'v']'
excess,
at
cost
issued
to
the
as
St.,
President.—V,
compared
Ended
v".
1,484,866
$3,889,906
500,000
,
-
Revenue
has
assignments.
active
(Including
Total
Condensed Comparative Income Statement y-y1AVrAy■ A,a
;;'A •.yAAA
♦ 12 mos. ''
12 Mos.
112 Mos.:
'
Igoe
declined
for
sale's"
Othei-
1943,
"yyA*.
•
23
airplane
per
increase in
35%
a
.y;;A A'-'AA'A,-AyA,,.;
rate.
"1,567,821
$3,928,988
value
1.
and
are concentrated on Government war orders.
is ibeing carried, on largely consists of sup¬
parts for corporation cars in civilian use,
the
design of' the
;
tNet
rate; (2) operations for 1942, and (3) actual operations for 1943 at the
mail
389,344
$1,082,266
$666,450
directors
par
Aug.
$yyy.:,)vy$
a-condensed comparative income statement based upon-(1) what would
have been the results of operations for the year 1943 at the old mail
new"
394,162
$1,166,450
,
of $149,664 in net profits for 1943. .<•
:
complete analysis; there is set out below-
more
16,098
Citizens Utilities Co.—To Pay
Larger Dividend—
■
yyy■yi944y:.',::yv,
decrease
a
of
"
$5,374,772
and
as
some
''■
retroactively to. Feb.
$304,181 Jn
.
accompanied
chgs..
,
same,
-y' ,;
profit after income
AAAy
"/'% ■'
cents: per airplane
mile.
and
a
L.
war. y
Consolidated
company was served with the final order of the
Board reducing its • mail rate from an average of
mile.
$5,496,809
paid
Wall
-
to
resulted in
:'
amort,
divs.
One
output;' of war- jobs already in production and, at
tjmey. working..out 4he problems involved in. getting new
war1 under- way," have placed
a
heavy load upon
our
organization, which it is handling
with competence and dispatch.
Our-scientific,:" mechanical and production engineers have made many
important contributions not only to the art" of production but also
the
,fc
Company's operations for
$1,471,610
$5,358,674
Bonds Called-
^things fifor
t
■
the
had
the-most
Chicago & Southern Air Lines, Inc.—Financial- Report
Civil' Aeronautics
;
Maintaining
.
the First National pank. New York, J. P.. Morgan & Co.',,
Bank, Chicago, sit a price pf 99.4999. ; A A
Halsey Stuart & Co., Inc.. headed a group bidding 99.40.
The
Bankers" Trust Co. and associates were! third with a .bid of
99,377.—.
the Fifst National
p. .1968
38,387
$70,000 of first mortgage 3Va%
bonds,
interest.
Payment will be made at
plants
extensive
and
new
by
159.
$5,458,422
4,229
Balance
schedules, but at the
.
peace-time
V;
t
in, operation of which
entire sales are-1 for
with winning
company
bearing
'
our
The
and
$1,467,381
12,990
50 cents
three executives
successful
Lines
the
10 new 4-8-4 road
President,
and
Employment
notes
of
revisions.—V,; 159,
replacement
practically
in
Inc.,
was. the
Island
75%
objections
June
activity
Chicago Burlington & Quincy RR.—Notes Awarded-^-
headed
Rock
cars.
recently
Keller,
continuance
$1.33
■
and
minor
other
plying
10,408,919
$1.20
:
which
ICC
Employees
.
Balance to prof, and loss
-V. 159, p.
box
reorganization
T.
Such
ap¬
propriations of income
$1,547,621
revenues—.
income
Pref.
Corporation furnished more war
goods in the first quarter of ,1944, than for the corresponding quar¬
ter of
1943.
Its
earnings, however, are less than the 1943 corre¬
sponding quarter.
'
'"/•
1944—4 Mos.—1943
2,749,442
.
of
K.
Net
income-
and
Net
Chrysler Corp.—Quarterly Report—
,
excess
profits, taxes A—_—,»/
Net income
Chicago,
the
;K:-i..
50
■
filed
relatively
Other, railway taxes——
operating
to
Michael
by
The
plan
made
•;
Judge
date
be
must
A
$13,203,525 $17,405,983 $72,105,854 $66,281,965
—™—
oper.
..
.
represents
50-ton
new
the
as
share
per
June
extra dividend of
an
•A•'Earnings for Month and Four Months
income
\
1944—12 Mos.—1943
$9,291,465 $35,050,647 $31,800,910
7,824,083
29,592,225
26,442,235
$1,560,612
Net
•
taxes.
and April 1, last.
75
last, paid
cents
record
cents
Gross
1944-^-3 Mos.—1943
$9,838,881
8,291,259
The company has called for redemption as of June
1,
Hearing Date for Objections to Plan Set—
May
stock,
common
loan
loan
freight locomotives,
500
Federal
The
Period End. Mar. 31—
Other income
following
July
paid
He
Knox's will.
National Bank,
$6,000,000
a
Diesel
Chesapeake & Ohio Ry.—75-Cent Dividend—Earns.—
on
of $101,956
at March 31,
1944.
tAfter
$7,018,430 at March 31, 1944.—V. 159, p. 1969.
reserves
revenues:™.™,
Total oper. exp. and taxes
.
The
3,455
...
.
2464.
p.
less
reserves of
Gross
Vice-President; L. E. Aldrich, Treasurer, and Arthur
Secretary and-Assistant Treasurer, have been re-elected.—
p. 1940.
157,
$$76,566
+71,374 A
$1.39
$No
contracts,
Cincinnati Gas & Electric Co.—Earnings—
<
Chicago Rock Island & Pacific RR.—Loan Awarded—
$150,522
share
per. common
398,818,110 418,486,999
■
O'Keefe,
Hall,
1942'
$173,983 A
1*36.688
.
profit
21,755,660
21,755,660
25,958,106
25,958,106
142,535,664 140,245,977
u—:
,™'
—
—™™-„—
deducting
The
John
1.69%.
•Earnings
3,333,203
-
special deposits of $25,662,007 at March 31, 1944, and
$19,924,882 at Dec. 31, 1943, to be used exclusively on Government,
contracts,
tlncluding billings for costs and fees on cost-plus-fixed-
Earns.
1943
$247,210
taxes——™
;
"Including
.
1944
'
•
business—
reserves™—
$5)
(par
28,000,000
1,605,666
3,333,203
5,155,909
3,604,150
genera)
Post
23, 25 cents;
dividends
common
named In Colonel
--AyAAA
Checker Cab Manufacturing Corp.- (& Subs.)
Quarter Ended March 31—
and
auto,
37,312,982
of
Laird
Mr.
unissued.
remain
348.
p.
stock
surplus
surplus
of
844,684
1.367,058
58,702.874
*
Bell has been elected as
President, filing the vacancy created
by the death of Frank Knox, Secretary of the Navy.
of
does not presently contemplate any financ¬
159.
liability
reserves
Capital
$186,756; traffic balances and deposits
to U. S.
due
rehabilitation
re-establishm't
Earned
hand, $623,014; special cash
contracts;. $165,000; U. S.
materials...^..
(estimated),™_™__
90,600,729
31,000,000
1,682,363
.
commitments
on
plant
&
taxes
reserves
loss
Custodianship
Contingencies
1943
Elects New President—.a-
V.
,,
for
reconv.
Bank
common
each.
from
incorpora¬
preferred stock
the issue of
on
A/y'-yA .y':<: - v
paid, 800,000 shares would
is
The company, it was stated,
ing of
to
limitations
no
\
debt.
stock
to
and
to
that there will be
so
funded
or
$100,000;
for
and
war
income
on
operating
Reserves
action
Stockholders
tion
notes,
taxes
General
net '
fol¬
The company ori May 16 announced that the directors have
declared
dividend of 50 cents per share on the common
stock, no par value,
the usual quarterly dividend of $1.25 per share on the
5% pre¬
ferred
stock,
par
$100,
both
payable July
1
to holders of
record
$36,007
Ay
.
1,500,COO shares at a ■ special /meeting June 6.
The
proposed stock dividend will partially capitalize the earned surplus.
?
Federal
stock, thereby increasing
for
Chicago Daily News, Inc.—50-Cent Common Div.—
outstanding, payable June 30 to holders of record
is contingent upon approval by the stockholders
This
public
insurance
contracts
on
52,289,580
196,712
1,443.015
72,279,110
37,378,443
5,363,416
3,602,937
subsidiaries™
a
y•,
100%
a
savings
with
interest,
Advances
1349.Ay y.vA A^^
$54,878
(Wichita, Kan.)—100% Stock Div.
declared
recommended
500,000
y
885
p.
A $22,860 A
—v; .158.. p. '2248.
-
$21,549
A
v
,
income'
Interest
Net
$21,877
-;y.; 983
income—
the
$7,303; deferred credit^, $69,692; reserve for engine overhaul, $4,977;
reserve
for
contingencies, $5,839;
common
stock
(294,337 no par
shares), $1,449,733; earned surplus, $101,502; total, $2,966,119.—-V. 159,
•
Non-operating
to
payable and payrolls™™™™..™
Accounts
Accrued
Office Department, $200,777; ad¬
vances on
U, S. Government contract, $264,606; reserve for
purchase
of employees' war savings
bonds, $5,365; accrued liabilities, $238,693;
note payable to bank, due July
31, 1945, $225,000; unearned revenue,
'
taxes—
sold
company
V-V,,.,""
'
taxes
1943,
tax
Liabilities—Accounts payable,
'
depletion
General
Federal .income
Accounts
this
at cost, $167,184; funds deposited with Federal
for purchase of employees' war savings
bonds, $1,763;
receivable, $1,172,015; inventory of parts, supplies, etc., at
approximate cost, $158,580; other assets, $242,062; fixed assets (net),
$394,346; deferred charges, $42,155; franchises and goodwill, $1; total,
$2,966,119. rr :x'v. -AyAa, \
182,663
19,161
$328,831
Balance
"
payable,
Prov, for deprec., retire.
and
200,957
3,834
y
To
1943:
31.
deposit restricted ;to
Treasury obligations,
1944—12 Mos—1943
52,565
4,557 yy'.
'
made
accounts
.-.A' $94,929
A..
——
Dec.
at
as
-...
,.
60,123
A
.
have
'
on
$101,602
revenues.j
oper.
Operation _™A._™—
Maintenance
November,
Government bonds, $300,000; to retirement of notes
-to expenses of stock issue, $29,583;, to cash, $80,416.
(& Subs.)- -Earnings-
1944—3 Mos I—1943
Period End. Mar. 31—
Issue—In
Stock
Reserve
Central
billed
its
capitalization from 231,337 shares of 291,337 shares.
The
proceeds of this' sale, amounting to $660,000, had been applied as
•
in-arrears
are
already
through its bankers 60,000 sharesof common
A--';
share
per
Dividends
charges
Liabilities-
■'
•;
■/
of
advisable.
seem
New
a
on
disallowances
various
action
dividend amounting to $3.50 per
share on the prior lien preferred stock, $7 dividend series, and a divi¬
dend of $3 per share on the prior lien preferred
stock, $6 dividend
series, both payable June 20 to holders of record. May 31.
Distribu¬
tions
declared
V
;
Central & South West Utilities Co.—Dividends—
.
sharp increase in operating costs and the continuing uncertainties
presented by the possibility of renegotiation of its military contracts
$7,104,616
'
.
Operating
2077
The
Co.—Earnings—
12 Months Ended March 31—
,
$54,723
$588,655
$535,849
01,640
91,640
366,562
389,472
Commonwealth
'
The
of
weekly
this
&
Southern
■J.
business conditions
Dividend; Subject to Approval
dividend
A
lxy
preferred stock of
the
on
the
28
made
of SEC—
$1.25 per share was declared
an order of
is proposed
.cents
1943
$6,350,037
3,247,660
420,174
354.968
5,150
-----
___.
$2,742,259
of debt discount premium
etc,, of subsidiaries—'
of subsidiaries—
dividends
interest
Minority
Balance
•
Quarter Ended March 31—
•T't.TT' 1944
after all chgs. but bef. taxes
$734,550
•' Net
y
—v.
9,458
discount and ex¬
Community Water Service Co.
352,257
Total
$257,107
$356,060
187,360
213,665
$69,747
$142,395
2,806
19,632
—^
Provision for taxes
$139,584
55,969
■\,.
■—
with
accordance
1943
write-offs—:—__
'
allowance
above* figures no
the
Note—In
$52,921
$83,614
has been made for depre¬
/
ciation.—V. 158, p. .2043.
Connecticut River
and
Securities
The
of transactions
;;V
■
>.
—
'
48.992
—.
y.
4,'
1823.
'./'TX
'
York.—V.
New
159,
16 Weeks Ended
2.4%,
at
annual
profits
excess
taxes \
1942
$268,985
,
and
After
depreciation
interest,
White
paid
Douglas
'
Exchange
and
Securities
The
[
Commission
15
May
T ,-y
Managers.
Oper.
further
Therein
dealings
visable.—V.
-*
159,
that
announced
York
New
the
on
Stock. Exchange
inad¬
XX;;.•'
1970.
p.
Cutler-IIammer, Inc.—To Pay 35-Cent
directors
The
May
on
Dividend—
declared a dividend of 35
15
cents per share
value capital .atock, payable June 10-to holders of
record May 27.
A like amount was disoursed on March 15, last. There
will be no deduction for the Wisconsin Privilege Dividend Tax,.fT
the
par
no
made
the. .following .distributions:
June 15 and Sept. 15, 25 cents each, and Dec. 15, 50. cents.
During
March
15,
Liquidating Co.—Delisted—
stock
common
the
company
1970.
p.
W.
The
the
1943
159,
C.
York
New
(no
par)
was
Exchange
Curb
been
and
operation
is
director
a
v.
159,
Brooklyn
removed from
at the opening
nounced
—V.
that
159,
a
known
formerly
was
.
He
-y-vT
6 Months Ended Feb. 26—
Net
unlisted trading
of
business
.Federal taxes,
shares
Common
Earnings- per
—V.
159,
p.
-A—_—.i—!
,
1944
.
1943
■
$214,173
405,828
280.146
-T" $0.76
,
Z--$0.68
'
cerns
ties
Field—
of the largest custom plastics molding con¬
in the United States provides this company with complete facili¬
acquisition
the
for
of
one
forms of molded plastics, Carle C.
production of all
Chairman of the board and President, stated on May
Announcing the acquisition by Continental of the Reynolds
Elastics division of Reynolds Spring Co.
way, ~
and
crown
of
ducer
in
a
Marco
pnd
is
line of fiber containers and drums, entered the
through the acquisition of a substantial interest
producers of new types of synthetic resins,'
producing in Chicago and Jersey City a plastic laminate,
Marco-Board, for military aircraft use.
•'
complete
Tne
now
Reynolds
Inc.,
Molded
Plastics
division,
which
now
produces
trans¬
turret enclosures as well as numerous other parts for
fighter aircraft and in peace-time served the automotive,
plastic
bomber
and
refrigeration,
has
1943
Chemicals.
Continental
parent
Molded
T
which
plastics field in
household
appliance
and
electric
appliance
industries,
complete design and engineering facilities for developing industrial
plastics applications,
There
will
fxe
division,
nor
in
no
the
Mr. Conway stated.
change
in
location
of
the personnel
the
plant
at
or
policies of the
Cambridge.
Ohio,
new
within'
overnight delivery distance of New York. Chicago, Detroit and'Cincin¬
nati.
it is one of the most comnltee plastics units in the country, with
-facilities for compression. injection and extrusion moulding, and sheet-
forming,
See
he added.
It employs 450 people.
Reynolds Spring Co., below.—V. 159, p. 1970.
also
804,000
2,852,000
taxes-T
456,513
430,950
1,657,595
revenue.---!
$702,61.9
$721,659;
reserves,
contributions in ai
total, $49,479,919
$10,690,784;
TTtT
•
Brown
M.
-
%
I.
16 was elected a director and Chairmar
Parker as President of the company.
Mr
Marshall, who resigned.
Mr. Marshall ha:
May
on
and James W.
the board
succeeds
The
;
1,574,47S
Alfred
C.
sometime beyond the
plan.
/
retirement age fixed by the company',
„
company
Detroit International Bridge Co.—-25-Cent
'
Other
income
Net
misc.
5,231
1,340
13,887
■V $707,850
inc._
chgs.
fxd..
deducts
$883,709
$2,407,168
$3,050,716
'
■
222,430
$661,278
:•
112,503
dividends
par
payable
$1,
June
261.
P-
:"T.
112,502
-
865,713
$1,541,455.
450,012
751,148
$2,299,568
-V.
158,
p.
$548,776;. $1,091,443
$378,333
wi—T-
Consolidated Profit
:
of
on
Cost
$1,849,556
of
' .;
The
influence
Delaware
measure
of
&
control
from
Hudson
of
the
any
denied
Boston
$9,562,05.
7,286,8Q.
$1,205,461
$2,275,2(5'
87,437
77,58'
$1,292,898
$2,352.83
458,299
465.29
$1,684,554
substantial
16,310 '
16.304
(Cr.)'__
4,635
13,685
expense_J„____„—
7,221
guaranteed,
Miscellaneous
:
intention "'of ^acquiring any
but desires To secure The
.Life
& Maine
income
other
insurance
Normal
income
"Excess
profits
and
tax
tax___!:__'__
Total
Cash
.Res.
Balance
.w-
*Less
at
end
of
year-
405,000
104,130
68b,00
_
conting.
$458,812
$839,96
2,375,480
2,018,01
$2,834,293
$2,837.98
$491,325
2,524,918,
309,375
v
309,375.
$2,705,868
412,50
50,00
.._r
$2,524,918
of $ll;570-for 1942 and $45,000
1942 and 1943 'for renegotiation.; • . — ■
post-war; credits
tAfter provision in
1,31
.7,15
_____
$3,016,243
other
3,26
•
385.,00
paid____——
and
7,446
•
294,200
___A_'_T
dividends
for.insur.
'
289,000
Balance
-
512,953
;
surtax
,Net profit
_______
at beginning of war
;
source..
any
19^1
5,444,903
•
107,501'
earned
.r.
preferred stock of the Boston
undue
without
1942
$6,650,364
1943
Gross profit and. commis. earned
Selling; admin, and gen. expenses!
^Interest earned
;■—\:7,!
Railroad Holding Co;, which
is entitled to priority in liquidation of the assets of the holding com¬
pany, which assets consist of stock of Boston:•& Maine RR. carrying
about 27% of the voting power of that railroad. - The~ New York. New
Haven & Hartford RR. Co. has defaulted on its guarantee of dividends
on
the so-called publicly-held stock of the holding-?company,-and the
■plan of reorganization of the New Haven, which-has been'approved by
the Interstate Commerce Commission, contains, express provisions pro¬
hibiting the performance now or in the future of this guarantee..
" V
The Delaware & Hudson pointed out that, Tor many years,~'it had
•maintained a substantial traffic exchange1, with.*-.'The. BostonMaine,
and desires'to protect that exchange .upon ran -open;. competitive basis
cumulative
;
~---A-->\$8,033,515
6,456,462
sold
products
Distribution- of Boston
16 announced that -it owns a
the so-called publibly-held:. 4%-
May
shares. of
the
Ar
12,.
■.
$1,577,053
.& Maine Stock by Holding Firm—
company
May
1942; none since.—Y. 155
and Loss Statement and Surplus Account
2467.
Delaware & Hudson Co.—Seeks
The
record
of
-'."..XT T/
Calendar Years—
450,011
Commissions
amount
holders
to
Corp.—Financial Statement—
Steel
Detroit
v
.
TNet sales
Balance
12
initial of like amount was paid on Jan 24,
.
Dividend
share has been declared on the comrnor
;•>
...
,
..
$490,836
income
Preferred
'■
217,013
-
,.
dividend of 25 cents per
stock,
6,008
______
corporate
other
and
'
A
$882v368.' .$2,393,281. $3,044,708
Con¬
15'in
is the second largest producer of tin containers
closures in the United States, as well as an extensive pro¬
Continental,
876,000
1,113,653
2,151,591
profits
Net oper.
Gross
Continental Can Co., Inc.—Expands in Plastics
The
1,172,000
expenses
announced that "Mr. Marshall will continue as
director and as an active consultant in the company's affairs."
Mr. Brown is a
lawyer and a former United States Senator fron
Michigan. Mr. Parker has been with the company since 1910 and is a
present a director and General Manager—positions he will continue t
fill in addition to the Presidency.—V. 159, p. 1759,
T
'
Int.,
,
421,000
state and local taxes accrued, $89,292; interest
in connection with issuance of long tern
other current and accrued liabilities, $36,884
$62,034;
159, p. 1146.
retirement
2,027,682
348,000
profits taxes
excess
excess
$277,119
outstanding—————A—,
share
I860.
2,300,106 "
$4,000,000.
construction, $355,323; earned surplus, $596,882;
served for
813,982
914,746
576,104
$100),
(par
Detroit Edison Co.—Changes in Personnel—
8,104,729
9,562,837,
193,403
621,162
stock
preferred
stock, $6,255;
credits,
deferred
of
—V.
anticipated.
222,594
A'-—
cash
cumulative
$40,824;
accrued,
bonds and
Prentiss
2,408,252
2,749,430
■
Prov, for retirements
Federal income taxes-i.
deposits
temporary
Liabilities—4%
on
$5,716,079 $20,852,564 $18,830,823
$5,976,319
$1,385,21"
1914
81,
.premiums and assessments on pfd. cap. stock $112,760; com. stock (pai
$13.50), $15,695,100; long-term debt, $15,000,000; liability for redemp
of pfd. stocks of Eastern Shore Pub. Serv. Co. (incl. prem. and accrued
dividends),
$60,357; accounts payable, $396,267; dividends declared
$38,997;
matured
interest,
$225,000;
customers' deposits, $130,428
accrued Federal income and excess profits, $1,221,073; accrued othei
'
JiX-AT
revenues
March
Other than Fed. inc. and
.
'
profit after charges and Federal Taxes—_
$1,362,495
Sheet,
plant,
demand
and
'
as
small liquidating dividend may be
further
1970.
p.
Maintenance
Fed.
Consolidated Textile Co.—Earnings—
;
" $329,889
$2,577,082
1,191,864
$42,443,623; Investments, $324,519; cash on
in banks,
$2,701,771; special deposits,
investments lU. S. Government at cost),
$2,150,000; accounts receivable, (less reserve for uncollectible account,
.of $81,913), $844,902; interest and dividends receivable, $9,036;
rents
receivable, $119; material and supplies
(at cost or average cost)
$431,612;
deferred
debits,- (net),
$153,599; capital stock expense
$48,109; total, $49,479,919.
.
Operation
•
1,005,315
$365,158
Assets—Utility
hand
of
-Gross
Edison Co. and The Yonkers Electric Light
of the Consolidated Edison Systeni.—
$2,367,810
321,466
Balance
Period End. Mar. 31—
part
are
1970.
p.
December, 194.0.
denartment of this company since
of
Co.i which
'Fewer
$651,355
152,133
Net income
;
Dayton Power & Light Co.—Earnings—
:
1944—3 Mos.—1943 X 1944—12 Mos.—1943
;
v,
Searing has been elected Executive Vice-President.
He
Vice-President in charge of the electric and gas production
bad
&
Promotion—
Receives
R.
7,526
$517,291
$2,547,284
T 29,798
$2,360,284
Dr5,014
deductions
Income
Parker
Official
Hudson
s
$656,369
1,399
income
Gross
■
Crocker-Wheeler Electric
Manufacturing Co.
XT';.
X - TX'-v'
As
previously announced, a second liquidating dividend of $2.75
per
share was paid on the common May 16, to holders of record
May
5,
1944. This payment,
together with the initial - liquidating
dividend paid, amounts to $10.75 per share, and company has an¬
Company
May 16.
<
$515,892
revs.-
«
.
on
771,074
taxes____
operating
$372,629;
,
(& Subs.)—Earnings—
1944—12 Mos.—1943
$2,878,630 $11,957,761 $11,061,427
1,630,960
7,131,380
6,427,266
591,301
2,466,097
.2,086,877
1944—3 Mos.—1943
$3,159,479
1,872.515
deductions—
for
John G.
to the Board
Robert Win-
1759.
159, p.
Light Co.
&
revenues
rev.
■Net
.
will be held June^S, at the Commission's New York office
application of the .New York Stock Exchange to strike from
listing and registration the $8 cumulative preferred, stock (no par)
of the company.
As reason for the proposed delisting The application
states that the distribution of the security is so inadequate as to make
—V.
dividend will
the
upon
on
Power
Period End. Mar. 31—
-Operating
!a hearing
.
had resigned.—V.
who
Other income
!
■
Extension (9.5%).
very little chance that a
is
Secretary and Treasurer, have been elected
They succeed the late J. M. Davis and
Enderlin,
of
there
declared
the D. L. & W. stock for several years to come.
Swift, Vice-President and General- Counsel, and
on
$161,391
$231,114
and all other charges. ;■
" '
mode.
be
can
New York. Lackawanna &
Delaware
&
Passaic
the
Mr.
-be
107,594
238,492"
-n $228,369
Delisting Hearing—
Sharply—Pension Limit Defeated—
their
1943
$469,606
arrangements
as
present, status --.of proposed mergers of
above proposals would effect cuts in
following amounts:
Provision
*
meeting held on May 1,5 defeated
a. proposal
to limit pensions to $6,000 annually bj/ ar vote of 7,339,405
to 852,257.
The maximum pension figure for the system^ emplpyees,
set by the board of trustees, is currently $15,000 a year.
' ;
The management said in the proxy notice that requiring stockholder
approval for pensions paid to executives earning $25,000 a year or more,
.as
adopted in 1939, served no useful purpose, since the top pension
figure, regardless of earnings, would be $15,000.
Stockholders, voting
dn person or by proxy, upheld the management on this basis bv a vote
Of 7,806,886 to 432,285.
;V
.' ,; v. '
Electricity and gas output of the Consolidated Edison system com¬
panies for 1944 to, date is ahead of the same period last year, Ralph
H. Tapscott, President, told stockholders at The annual meeting.
Most of the recent large kilowatt hour output gain
resulted-from
the operation of the Queens aluminum plant, but, excluding this factor,
electric consumption was about 8 % ahead of the first four months of
1943.
•..'■
:V7'x
One-third of, the aluminum plant's potlines were closed down- on
May 1 and duration of the rest of the aluminum" load is uncertain.,,, > (
Relaxation of the dim-out and lifting of other wartime restrictions
is expected to restore during 1944 about $3,300,000 of„the $10,000,000
annual loss of electric revenues from these causes. Mr. Tapscott stated.
"We think we picked up $700,000 of this during the latter part of
last year," he remarked, "but there will still remain some $4,300,000 to
be regained when dim-out regulations are completely relaxed and when ,
ample supplies of high wattage lamps and other lighting equipment
are again available."—V. 159, p. 1970.
\
•
: 's
:
stockholders
&
1944
.
the
Delaware
$600,972
372,603
taxes
soon
the
said
White
.throp,
profit''..
Net
.
Output Increases
The
-
,
,
343.
April 24—
income
'
.
,
p.
income before
Fed,
York, Inc.—Output—
May 17 announced that system output of electricity
(electricity generated and purchased) for the week ended May 14,
.1944,-amounting to 179,300,000 kwh., compared with 176,500.000 kwh.
Tor the corresponding week of 1943, an increase of 1.6 %.
Local dis¬
tribution of electricity amounted to 179,200,000 kwh., compared with
,175,000.000 kwh. for the corresponding week of last year, an increase
The company on
cf
-
-
the necessary securities.
leased lines,
fixed charges
Western, $200,000;
Utica. Chenango & Susquehanna Valley, $120,000; Morris & Essex,
$562,500; Lackawanna of New Jersey, $107,500; Valley RR.. $37,500.
If these mergers, are. consummated, Mr. White said, further plans
contemplate the consolidation into the system of the smaller leased
lines, such as the Newark & Bloomfield, 98.59%
owned; Passaic &
Delaware (100%), Sussex (96.3% ), Morris & Essex Extension (47.87% )
Cushman's Sons, Inc.—Earnings—
.
*Net
Consolidated Edison Co. of New
v-
•
as
Detailing
Mr.
in the
-
the merger
Commission examiners recommends approval of
.
road
this
•
transitory
a
...•
:;-v.
'
Valley—Agreement is in the course
of preparation and-is expected to be executed within the next 60 days.
Morris & Essex—Agreement expected to be executed within 60 days
and submitted to the ICC for approval.
,
■ '
' ^
Lackawanna RR, of New Jersey—Agreement reached with board of
directors and soon will be submitted to the ICC for approval,
v-.
;■')•'
Valley RR.—The ICC has approved plan and 93.8%
of the out*
standing stocks has been deposited, and purchased to date;
Warren RR.—Negotiations with board of directors are in progress.''
Oswego & Syracuse—Negotiations are under way, but the prospects
of reaching an agreement are not very favorable &t this time.
Syracuse, Binghamton & New York RR.—Plans for the merger of
2466.
with
accordance
to
by
agreements,
merger
v
■
.
Utica, Chenango & Susquehanna
Nil
jv
provision of the Constitution, of
payments will be made on June 1,
1944, of $5 per $1,000 bond on surrender of the June 1, 1944, coupon
from Cuba RR. first lien and refunding mortgage gold bonds, series A,
IVzVc, extended to 1946 and first lien and refunding mortgage gold
bonds, series B, 6%, extended to 1946; and of $19.33 per $1,000 deposit
receipt for said bonds ($4.49 interest payment, $14.84 principal pay¬
ment) to holders of record at the close of business on May 22, 1944.
Interest is payable on the bonds at office of National City Bank,
. ..
also of Boston,
a
wholly owned subsidiary of Connecticut River;;would dissolve and
transfer its assets to its parent and Connecticut River would surrender
its holdings in the Mascoma River Improvement Co., Lebanon, N. H,,
to
Mascoma
prior to its liquidation.
Mascoma's assets are to be
transferred to its remaining stockholder, Granite State Electric Co.,
another subsidiary of the New England Power Association.
1
p.
Cuba RR.—Interest—
In
t'0:.j-S\'-t/;.
,
158,
York,
various
•
the issuance of
and
*7,577
$0.03
:
' ;
<
Mr. White said, is
T ' T' •
Lackawanna & Western—The merger agreement has been
the Interstate
Commerce Commission and
a proposed
the
of
follows:
as
report
Cuba, and the proceeds for deposit,
Exchange Commission on May 9 approved a
designed to liquidate and dissolve the company,
subsidiary of the New England Power Association.
Under the plan the Essex Storage Electric Co., Inc.,
a
York.—V.
New
Conservation Co.—Dissolution Plan
Approved by SEC—
series
status
The
.
Profit before
lines, William White, President, Told stockholders at their
meeting held on May 9.
He said . that .The consolidation of
lines
on.
terms already
agreed upon would reduce the <lixed
about
$1,130,589
.v.
toward the merger of
has made considerable'progress
company
these
transitory
a
.\
leased
submitted
4>'
158, p.
V.
1971.
p.
Western RR.—Merger of
Progresses—New Members of Board Elected
charges of the carrier by around $3,100,000 a year.
,
T;.
1944
.
provision of the . Constitution:, of
Cuba, and the procedure for deposit, payments will be made on June 1,
1944, of $4.70 per $1,000 principal amount of Cuba Northern Railways
first mortgage gold bonds, 5Vz% series of 1942, due 1942, upon presen'tation of bonds for stamping of the rider attached
thereto;- and of
$19.33 per $1,000 deposit receipt for said bonds ($4.49 interest pay¬
ment, $14.84 principal payment) to holders of record at the close of
.business on May 22, 1944.
-y:
Interest is payable on the bonds at office of National City Bank,
In
2,811
$72,553
—————
——
;
Railways—Interest—
Cuba Northern
'
;
213;
p.
159,
&
annual
"
159,
ownership of Boston & Maine stock,
Lackawanna
Leased Line
1,472,906
1,472,906
y: y $0.16 > .■ : $0.16
p.;2466. y-T -1
$1,551,884
1943
r-
31,985
—-—-
—---
;/
sales
,
"Loss.—V.
/
26,320
proceeding or otherwise, any
concluded.—V.
!>:?, The
Co.—Earnings—
profit after charges and taxes.
Earnings per share
Ltd.—Earnings—
Operating profit——
Non-operating 'revenue
1,472,906
$0.15 :
—
_
.
Net
1944
no
announcement
Delaware,
$223,690^;1.$234,001^4;:$238,605
•
6 Months Ended March 31—•
•»:
Net
31—T;>
'V'
Tons\^ore'hiilled..-~--l-A-r.r._~-----;iiw--~r---«i;
Wet income from metals produced
i
...
Development and operating costs
,
1943
1942
4 ',$946,795 y-v $578,134
4339,529
Federal'excess profit taxes.—V.^ 158,
Croft Brewing
;c'
Coniaurum Mines
has-
New
$509-,614
;
share
per
''Includes
358,745
Quarter Ended March
<
9,538
v
$868,359
$341,835
1552.
P.
profit
_
Outstanding common shares____;
stock
Maine
.-T.'T;'X;
*510,860V-T,*71.2,794
Net
Earnings
income■
159,
;
association with certain other holders of the preferred stock,
shortly take steps to secure the • distribution of Boston &
held by the holding company.
The Delaware &. Hudson
desire or intention to acquire, either directly or indirectly,' in
would
it
its
534,389
.
$694,092
—-
____————
etc., of
pense,
f
534,338
amortization of debt
Interest
Profit
—
__
■that,- in
Maine
policy
respect to
It stated
«
»
taxes
,
England and with the Federal anti-trust laws with
the relationship of the New Haven and the Boston & Maine.
stock, no par value, pay¬
159, p. 1970.
-T'T'T"',.-
(Including domestic subsidiaries)
income
,
New
of
1,329,973
1,321,040
and expense,
(net)
,
holding company and a consequent-distribution of the Boston &'
•stock would appear to be consistent .with the established public
the
-
as
jurisdiction
initial,quarterly dividend of $1.3114
an
Coty, Inc.—Earnings—
•
Federal
Interest, amortization
Preferred
of the Boston & Maine.
It pointed out that the New
recently as the fall of 1943, applied to the court having
of the New Haven in reorganization for approval of a
•proposal1 whereby the New Haven would purchase the publicly-held
preferred stock of. the holding company, with the obvious intention of
eliminating, all outside interest in that company, thereby giving the
New Haven all of the stock of the holding company.
This application
was denied by the court with
the observation that it would vary the
plan of reorganization of the New Havven approved by the Interstate
Commerce Commission.
/
..
: •,
The Delaware & Hudson also pointed out that a liquidation of the
independence
Haven,
This
v
income
Gross
declared
also
directors
5,150
$2,558,979
Operating expenses, maintenance and taxes—.,
Provision for depreciation and retirements——
Amortization of property account adjustments
•
The
share on the $5.25 cumulative preferred
able July 15 to holders of record July 1.—V.
1944
.
par
per
$6,498,780
3,514,477
earnings
Gross
stock,
common
X
Corp.—Dividends—
declared a dividend of, 20 cents,.per-share
$1, payable June. 10.,to holders of record
May .16
on
>
-
Comptroller.,—V. 159, p. 1758.
26.
A similar payment was made on March 10, last.
In 1943,
following disbursements were made)
March'10 and June 15, 15
each; Sept. 10, 45 cents; and Dec. 10, 35 cents. •>-vT
May
The
Subs.)—Earnings
Ended March 31—
12 Months
;,
Co.—New Comptroller—
Bogert has been elected
directors
the
on
i
Service Co. (&
Community Water
,
1445.
p.
Cornell-Dubilier Electric
The
the date of
after
days
159,
Officer.—V.
Corn Products Refining
:
the Commission s order to the
holders of preferred stock at the close of business on the 14th day after
the date of such orders—'V. 159, p. 1969.
■
be
to
T.
Charles A.
of directors on May 16 subject, however, to
Securities and Exchange Commission,
The payment
the board
N.
tive
11, 1944 amounted to 241,*
533,441 as compared with 232,221,592 for the corresponding week xn
1943, an increase of 9,311,849, or 4.01%.
.
week ended May
served fo'r the
elected President to succeed
the board and Chief Execu¬
y.T
Herman, Vice President, has been
Osier who remains as Chairman of
G.
subsidiaries
of
energy of
hour output of electric
adjusted to show'general
kilowatt
corporation
territory
Co.—New President
Continental Foundry & Machine
Corp.—Weekly Outputr—
Monday, May 22, 1944
"FINANCIAL CHRONICLE
THE COMMERCIAL.&
2078
$2,375,48
for 194
Volume 159
V
Consolidated
-Assets—Cash
<
Number 4283
cost
plus
Balance
deposit,
on
accrued
Sheet,
$1,043,743;
interest
THE COMMERCIAL & FINANCIAL CHRONICLE
(market
U.
Feb.
29,
tional
1944
S. Government securities,
$114,598;
$285,663;
payable,
for
Federal
The
$800,842;
$155,236;
reserves,
stock
common
$5
(par
Power &
1944
Light Co.—
above
figures
do
corresponding
Our plans call for extensive expansion and
development in our
success
of such projects vflll
partially depend on our
week
of Kilowatt-Hours-—
'Decrease.—V.
ability.
share), $1,031,250; capital surplus, $146,768; earned-surplus, $2,686,837;
$5,505,764.—V. 159, p. 1971.
-Period End. Mar. 31—
system
both periods.
any
J.
F.
Alkali
Hedding,
director,
a
in
has
been
elected
Secretary.—V.
158,
Maintenance
Taxes
Diana Stores Corp. —•April Sales
■
Period End. Apr. 30—
1944—Month—1943
.'Sales
$510,764
—V.
159,
1553.
p.
Up 9.6%—
Net -oper.
■
$4,709,193
'""Month
of—:
'
Ltd.—April Production Lower
-1'
■;
" '
In
.
the
first
,$1,820,284,
i% 159,' p.
months- of
four
this
$2,001,785
against
as
$451,716
._
for
the
Apr., 1943
$460,225
production
year,
same
'
period
1971.~•'a '■v.-- ^
-
&
valued
$190,891
$2,393,752
of
465,473
22,138
27,605
313,770
$2,707,523
63,255
759,100
36,434
40,946
502,619
A
>,,a,
»
;It is announced that Propylene Glycol,. N.F;,
.
a
is gaining recognition'at the moment
/company,
•
for
alcohol
war-vital
in
certain food
and
f
•
%",
470,625
2,625
2,605
22,314
$1,423,490
77,652
77,652
$1,345,838
as
cosmetic
processing.
Earnings
•
20,878
$1,325,913
$1,395,931
V,
G.
E.
&
Co.__
vides moisture
•
Gross
.Net
oils.
Mr.
operations
General Manager of
&
gen,
Int.
—$1,412,134
154,864
instrument
division.—V.
(& Subs.)-
$111,190
$451,864
20,906
13,668
29,335
taxes
73,400
37,000
235,000
1C4.867
profit
——$110,070
$55,516
156,581
133,085
1,678,844
U.
,—
S.
Treasury
Dominion
of
65,666
91,744
$242,079
$2,652,919
$2,683,478
10,918
Dr4,716
54,335
$283 664
$252,997
$2,643,204
$2,737,313
37,227
32.577
733
788
9,016
12^430
3,905
800
13,920
Receivables
(less
Pfd.
Inventories
(except
Pulpwood
Prepaid
Cash
:
victory
income
of
debt
disct.
.
income
income
stock
deduct.
A
..
•
$241,799
.
div.
require.
$218,831
8,632
bonds
934,896
929,746
85,769
retirement
for
stock
:
of
v Total.
.
—
32,070
.
U.
Federal
Other
income
—_
reserves
>
'——
—
1-——
5% bonds due Dec..T,:1953—_
Reserve for contingencies———
5% prior preferred stock (par value $20)
:_A
Capital
surplus.
Earned
value
267,730
—
surplus
2,482,658
lines,
Account
on
Net
:
.____
.
-V.
Interest
on
Interest
on
funded
debt_—_
unfunded
Amortization of debt
20,625
debt—2_
discount
L:.
•
($3
Total
and expense,
•
-
3,061
3,283
etc.
.[
Consolidated
Income
$322,522
Operation
i;.
Depreciation
General
—1_l
___
'
6,276
8,666 '
42,851
taxes
and
tExes_«__^_-—10,500
;
in
(par
$100)—.
31.707
<A.; $83,082
Interest
on
Interest
Amort,
on
debt
of
A- '
A ■ '
funded debtA:__:ii'al_r_A_L_
25,963
unfunded debtJi'_i-iii.:u_-_^^____94
discount
•
and
•;
,
expense,
A
Net
9,850
-
$71,082
:
-
•
3,454
war
992
--
r
3,511-.
•
Parent
Interest
Interest
dividend
requirements.^
deductions:
company
funded
on
on
—17,930
.
y'-.r
:
debt—20,625
unfunded
deht____
Amortization of debt discount and expense,
37
etc.
"3,061
<
\
;
;
20,625
A
income
-
$11,919
3,598.634
1,521,221
137,479
in
aid
of
?
148,964
7.208,038
5,959,180
construction..
159,
p.
;.
39
3,283.
*$1,260
637.
Ebasco Services,
For
ating
the
week
American
ended
Inc.—Weekly Input—
May 11,
1944, the system inputs of client oper¬
Services, Inc., which are-subsidiaries-of "
Power & Light Co., Electric Power & Light Corp. and Na-
companies
of
Ebasco
•
and
Sept.
20,'
surplus,
$1
$1,-
.
.
and
each
31
Power
May
of
the
of
8,317
A' A .:a\;A-' ;;V
13 issued
which
of
Power
..
for
to the
-
:
.
v
of
use
by
purchase of
effective
portion
a
tax
date
A
of
it
of
the
•
in
to
share
on
the
April 15, last,
as
cash
.all
..
the
;
.Nil
•
196.617
t
$1.33
$1.09
of
$193,200
in
1943
and
$155,000
-
..A;.,/;
$71,717 in
and $69,115
1942
trade
surrender
notes
held
for
sale
Federal
from
(less
excess
reserve
profits
employees,
tax
$2,330;
of
$50,000), '
(estimated),
miscellaneous
investments (less reserve of $27,633), $30,421;
equipment
(less
reserves
for
depreciation
of
deferred charges, $37,917; total, $13,689,089.
and
payable
U.
on
to be
(less'
and
income
stock
receivable
to sub-contractor,, $497,703;
contracts, $108,260; inventories.
of
life
insurance, 6^43,726;
claim
of. $32,925, $4,623;
land contracts
reserve
of
accounts
war
value
less
receivable
and
advances
estate
refund
in 1943.
Sheet, Dec. 31, 19-13
real
$910,045;
and
S.
and
accrued
expenses,
$1,780,404;
ad¬
Government
provision
contracts, $6,016,347; Federal
renegotiation (les^ U. S. Treasury
for
applied in payment of taxes of $1,105,140), $1,851,337;
no
par
shares), $2,457,715;
earned surplus,
$13,689,089.—V. 159, p. 840.
(491,543
total,
■
taxes,
for
charges;
including
shares
-
including
*
capital
for
in
an
cents, per
.
$1,
extra
an
cash
both
dividend
payable
of
July
30
15
share),
was
Federal
na
earnings
:
141,363
$4,662,678
—
—
L.
June
Straus,
of
income
220,234
$4,882,911
Charges of subsidiary
.Ealance
Balance
Ago—
2%
cents
to
companies
229,829
$5,058,569
2,741,562
3,140,741
$2,141,349
.'_
__—
of
$1,917,829
192,488
281,690
$1,948,861
"Including
years
income
net
special
ended
$1,636,139
Income
per
amortization
March
in
holders
Account
of,-$1,531,724 and $1,759,751
31, 1944 and 1943, respectively.
Years
Ended
March
31
(Corporation
A.
■
Total
income
Total
expenses
Other
1944
__J
and
charges
for
only)
1943
$1,340;870:
taxes
——
:___
'
$1,352,928
229,752
262,759
192,488
281,690
$918,630
$803,479
15.
President,
favorable cash position
"119,669
$4,828,740
159,
Last year, only one dividend
paid—on
discussing the stock dividend, Martin
.
,
Stock—
Year
dividend
Cr216,713
retirement
credit
income taxes——
;
1,900,055
398,558
less debt
Gross- income
out of
15 cents per share-in cash was paid on
extra of 25 cents on Jan. 15, in addition
to maintai
post-war
1,452,727
1,974,516
taxes.—
profits tax,
*
1,274,886
excess
605,820
54,991
3,417,577
116,007
-
taxes
.
in
Cr72,047
599,298
income
■
a
3.461,900
Cr38,372'
:
—
General
.
par
3,537,377
——
construction
3,310,322
Federal
-
Dividend
in Excess of
quarterly
stock,
to
L
Charges of Federal Water & Gas Corp
Extra
declared
16
;
*
4,534,091
an-
§Loss.—V.
-
:
charged
expenses
1943
$20,147,825
4,867,213
...
Retirements
Other
arising
provision
stock.
A
..
1944
$20,782,829
—
Depreciation
$0.35
;
$92,000
contingencies
(& Subs.)—Earnings—
A
_——
purchased
t$432,916
<
revenues
Maintenance
.Net
$0.15
.
income
usual
against
"We feel it is bets
>$536,848
196,617
;
,1941
..
*$191,777
to the usual quarterlies of 30 cents each.
In
$655,248
A
'
bank,
Federal
An extra of
(^mounting ,to. 75
210,000
1.395.000
,
share
$6,G24,468;
and
Operation
State
^43
§$134,682
$50,000
v
May
common
130,000
Federal Water & Gas Corp.
the
and
11 053
56,282
1,738,800
'
;
a
Years Ended March 31—
Changes in Personnel—
stock
surtax,
..a/•
t
Balance
received
on
General
65,167
1249.
159, p.
1943
Eversharp^ Inc.—To Pay
common
651.370
21,901
11,477
cash__^
accounts
notes
Gas
common
the
such--of
tender.—V.
1944
t$77,297
$0.06
'
v.
on
22,957,047
> 595,618
———______A__
post-war
Operating
the
of
(& Subs.)—Earnings—
tAfter
directors
'.
Liabilities—Accounts
;A A;:v::A.;'A'A,
to become
to
sale
the
the
Sales and Profits Over 100%
The
and
•. •
common
closed
vances
'and
tax.^.. tOrL 1,237,500
1351."-.
21,838,403
tax_„—___—__i—
accounts,
property,
plant
8.317
; A--
proposes
proceeds
Co.
$241,900: for; Federal
-conditions.
tax
notes,
;
profit;;
.
$25,318,101
(estimated):
$21,804), $1,305,267;
$776,246).
5.601,678
order permitting
an
company
$10,280,000
Idaho
the
73,710
$24,991,447
;____
arising from termination of
$348,200;
Light Corp.—SEC Permits Com-.
Preferred of Mississippi Power &
.
in
V;
./
$25,744,382
37,089
*
&
Purchase
on
$24,954,358
*
*
capital
of. record July 5.
,
• •-
amounted
$34,998;
350.367
6,370,654
'
*Loss.—rV.
21
Statement, Years Ended Dec.
...
receivable
$34,941,210 $34,047,745
SEC
income
p.
*-
Net
June
deducting post-war refund
against
13,676,323
17,930
t
"[ \
:
earned
_,1
on. income
paid
per
$4,341,129;
3,497.212
_
Preferred
for
1972.
p.
Loss
and
1942.
reserve
1759.
vto
*After
.
25,963
v;
deposits
employee
•
profit
-
1,804,782
3,497,212
:
_____—
..ticipatiori of increased taxes;
r
etc.——.
19,
159,
income
'A. •;
ment
$1,479,700
1,804,782
'
Subsidiary deductions:
March
cents.—V.
25,967
$1,479,700
L
fEarnings per-share—
income
Gross
_
$453,757;
accounts,
tNote—Provision for depreciation of buildings, machinery and equip¬
167,811
12,388,274
448,119
.-..Quarter End.-Mar^ 31—•
"32.804;'
•
value),1
have
made;
v,
claims
stock
Electrolux Corp.
38.683
33,281
Federal
receivable?
notes
com-,,
taxes
*After
858,471
145,5^4 1
•
thrift
expense
Dividends
.v';
'
stock
dividends have - been paid
146,533
Maintenance
State
$306,628
-
$1,985,480;
and operating
bonds, $2,783; sinking fund payment (deben¬
1944), $100,000; accrued interest (debenture,
accrued taxes, $142,245; income taxes estimated 1943-;
profits
282,753
publicly held $6 cumulative preferred
stock of the
Mississippi Power & Light Co. as may be-tendered to it for purchase
at the-price of $100 per share
plus an amount equivalent to dividends
at the rate of $6 per share
per annum from the last date as of which
1943
1944.
revenues
bank,
income
Earnings
$34,941,210 $34,047,745
,
shares
Accounts, Quarter Ended March 31
'
■
Gross
in
saving
July 1,
income
1,517
17,399
314,147
31,155
237,044
surplus
approximately
$2,814
$4,434
and
war
Net
20.722
;
depreciation..
declaration
a
-
stock
income
Net
.
for losses
reserves for bad
$12,432,253; notes receivable (investment certifi-A
for liquidation—contra of
$1,611,011), $3,826,175;
deductions A
•'
.i
100.000
accrued.'
Electric
The
39
.
profit
'
,545,555
20,088
par)_^_:
Light Co.—
20,625
37
.
28,125'
March 31, 1944
1
913,346
500,000
debt
159, p.
pany
$26,761
$28,156
'
.
reserves
reserve
employee
$1,583,2861
$112,077
85.316
-
'
:
Balance Sheet,
hand
on
;fExcess
1943
85,522
97,915
Federal Motor Truck Co.—Earnings-
Other
1943
25,567
common
for
Total
$113,678
earnings
$15,450
50
Federal
942,992
V":
Contributions
Corp.—Earnings—
expenses
$45,431
'
Crist of products sold
;
Selling and administrative expenses
199,734
1,071,303
payable
Interest,
•
earnings
*$21,143
Normal
debits_l.:
accrued "2_—
Taxes
(Company Only), Quarters Ended March 31
1944
Gross
Operating
$41,881
surplus—_
'
were
20,
taxes
Income
520,695
declared a dividend of 50 cents
per share on the
stock, payable June 20 to holders of record May 29.
A similar
was
made on May 29.
Last year, the following distribu¬
Interest
$31,309,074 $30 ,099.896
securities
stock
Reserve
Earned
Eastern Minnesota Power
322,335
:
$909,149; capital surplus, $2,896,006;
total, $18,564,055.—V. 159, p. 446.
Gross
$1,162,075
1944
etc—
accounts
■—_____
Accounts
1971.
p.
20,504
suppiies____
deferred
Long-term
$8,829,334
1,502,117
159,
and
Premium
1,521,527
Total
-V.
17,510
•
cumulative1 pfd.
1r/o
2,435,520
2,054,565
'103,579
$2,154,941
$1,137,242
218,691
receivable
;
Common
2,000.414
-
—_
pipe
fund
receivable
Liabilities—
419,23-5
2,000,360
..1—
$10)
$91,405
Treasury notes, tax series C
deposits
Total
150,000
•
—A"
(par
173,565
Profit
'
1,469,900
1,417,750
150,000
__1—
stock
99,180
Assets—Cash,
56,609
2,245
First mortgage
Common
,
Total
131,729
>
165,820
v.
tax
Prepayments". :
277,049
608,554
liabilities
28,125
"A- AAA' •: A. ;
A/A,
A- ;
1943
1942
Sales, less discounts, returns, and allowances.,* $25,789,358 $27,015,382
Provision for renegotiation adjustment———
835,000
1,271,000
1944—12 Mos.—1943
$367,351
$352,435
._
taxes
accrued
Operating
and
Reacquired
payable
$662,185
97,915
9,375
stock,
Dec.
,
1944—Month—1943
;.-vA'.a,;iaa
Materials
$8,829,334
$9,502,117
-
103,579
472.040
S.
Accounts
5,351.215
5,444,384
—
351,229
$493,805
f
$105,215
properties,
Notes
Liabilities-
Accounts
138,101
$194,435
distribution
$2,258,520
$2,149,517
Special
37.564
■
!
$2l0,199r
Cash
18,560
127,412
___
139,121
$1,162,331
500,14S
32,638
The directors
&
tax
Assets—
pre¬
._
Miscellaneous investments, etc.
Plant, property and timberlands (less reserves)
$845,034
401,738
372,172
$2,253,096
8,633
$233,167
_
profits
Investment
19,347
prior
$332,536
Federal Mining & Smelting Co.—50-Cent Dividend—
;
Comparative Consolidated Balance Sheet, March 31
Plant,
i
■
ferred
income
.
excess
;
999,899
■63,722
———
_
deposit
on
Federal
_
1,029,314
...
414,267
$322,195
9,375
$22,688;
common
AAA'
follows:
as
912,438
918,180.:..
operations—.;
!/'
surtax
7,273
—
items and deferred charges
deposit with trustee for'first mortgage
on
Cash
bonds
is
Fed.
—
A
&
Period End.: Mar. 31—r
$366,731
pulpwood)
logging
and
loan
1,868,820
387,773
32,638
Miscellaneous
500,000
reserves)—
1,758,857
135,683
...
tax
$552,931
—
627,489
128,939
B
due
65,126
costs-
income
Net
1943
notes
Canada
571,029
81,837
A
of
835,426;
1,612,123
.2,967
Dr8,703
devel.,
12,777
$292,367
&
> $103,087
$166,624
1944
Cash
$3,445,417
series
bond
mon
,
Consolidated Balance Sheet, March 31.
Assets—
$2,991,664
1,147,521
Balance
;
$1,095,709
1944, $351,229; 10-year 2%% ($3,500,000) debenture due
July 1, 1951,
$3,200,000; investment certificates issued (less reserve for redemption
of $1,611,011), $3,826,175; reserve for
contingencies, - $42,693; preferred
stock, series A, $1,740,710; preferred stock, series B, $500,000;
1944—12 Mos.- -1943
111,376
37.000
Net
$3,527,254
Liabilities—Dividends—payable April 1, 1944, $141,193; notes payable,
246,322
expense
31,715
Prov. fpr Fed. inc.
1944—9 Mos.—1943
other
ture
2,206,667
2,676
18,050
May 12.—V. 159, p. 1759.
$3,059,246
67,582
___
$890,016),
purchase
$7,987,854
$174,478
6
v
$183,074
(less
bond),
309,949
1,178,070
115.577
22,837
$100)
$573/4 per
commission,
$1,022,163
dividends
of
cates)
tions
$224,357
(par
at
a
series
$2,400,000;
2067.
p.
2.041,048
Gross
debt-
^
152,
19,007
Interest
(.net)
stock
A
May 11
with
Beanc,
23,953
_________
Deficit.'
debts
-Earnings—
21,864
1,709,656
oper._
&
assets, $13,629;
furniture
and
fixtures
(depreciation
$210,421; deferred charges, $96,096;' total, $18,564,055.
$7,926,496
$1 999,711
161,620
.
$1,119,662
—
Assets—Cash
;
aaa...aA';;a;;v.avva
.• ;-:a;a.:,a a
1944—Month—1943
;
'
Taxes
long-term
•
$1,482,932
A,"' 1941
2,182,938
*
-
145,367
195,096
Amort,
156,982
deductions
on
146,147
Depreciation
announce¬
$2,796,422
V
'
18,755
$1,628,299
Maintenance
admin.
prof, from
Other
$1,558,281
$697,101
Other
1942
1,970,139
preferred
Exchange
Fenner
1944—3 Mos.—1943
Consolidated
151,708
Miscell.
Net
the
Balance
1943
$2,236,193
1,823,410
expenses
•*
■
232,368
$746,674
Explor.
$2,204,749
sales——_—
Selling,
steady supply, the
1944
sales
of
of
Vice-President
Vice-President
$1,040,918
profit
Balance to
$1,395,931
V'
232,368
of West Orange, N. J., and Charles D. Geer. of East
have been appointed-Vice-Presidents. . V
is Manager of the special products division .and Mr.
N. J.,
Period End. Mar. 31—
(& Subs.)—Earnings—
3 Mos. End. Mar. 31—
..
Net
$1,325,913
'.
EI Paso Natural Gas Co.
/
for maintenance
159, p. 1655.
concluded.—V.
Cost
.
Berggren
Geer
production of Propylene Glycol, N.F.. is entirely adequate,
is a primary product and is not dependent on other manu¬
Eastern Corp.
.
A._—
Ark G. Berggren
Orange,
<;.• Present
facturing
and
named
1943
and
vegetable
Stock
Pierce,
collected-
profit
divs.,
divs.,
Pfd.
Edison, Inc.—Officials Promoted—
Operation
ment
U.
_A_
a,;.%
Operating'revenues
it
E.
dividends.
159, p." 1971.
treatment
since
to
1944
.
interestfor
■(Thomas A.)
field,
fluid
of
income
Common
z
flavor retention qualities for tobacco; may be used
compositions, inks, dyes, paints, paper, resins, leather
and film;
as a
plasticizer in adhesives and cellulose products; as a,
humectant for magnesium foundry sands; as an intermediate in the
brake
York
collected-
(less, appropriated
propylene glycol supplements its preservative
qualities with use as a carrier, emollient and humectant, and is a fine >•
softening and soothing agent, the announcement says.
Propylene Glycol, N.F., also serves in the pharmaceutical field as a >
carrier, solvent, emollient, humectant, lubricant and preservative; proi.in
10.200 shares of
charges
Operating expenses
Incoriie charges
.
-
applicable
income
Balance.,available
—v.
flavoring materials against mold growth.
It also olfers excellent anti¬
protection-.
,/•> "A-a ; A-'.
/: A":,a '
'
.
been
1146.
p.
x
chocolate, coconut and similar products, and guardf''
cosmetic
'
subsid.
Expenses, .taxes... and
freeze
the
_
Total,
clearly-demonstrated.
In addition, the use of propylene glycol in
place of alcohol in these applications results in an appreciable saving ',
in material cost.
'
;•
r In the case of food, it can also be used as a humectant in bread,
In
of
director
a
Wahl has
159,
was withdrawn
income
Income taxes
E., ;U,>A.___
Non-subsidiary
<are
cake confectionary,
of
New
Lynch,
.
'jv-' In beverages such as root beet and ginger ale, and in types of liquid cosmetics,, the solvency and preservative quanities-of propylene- glycol;
,
$1,416,810
19,924
B.
Eastern Utilities Associates—
product of this
■(' -';T2 Months Ended March 31—
a'capable substitute-:
new
extra
$1,494,462
AA
Applicable.: to
the
on
offering
Net
14,752
$111,690
i.-.Applicable~to-/minority .(interests
-
place of the usual
profits in the first 2V2 month3
more than double a year ago.
elected
and John
•Period End. Mar. 31—
Pfd.
Dow Chemical Co.—New Product—
;\
authorize
and
were
has'been
engineering.—V.
Merrill
Operating
'
Balance
industry
financial
to
753,475
-
$133,025
Preferred, div.deductions:
>
at
in
common
decided
Family Finance Corp. (& Subs.)—Earnings—
$2,733,314
63,255
A
directors
cents.
The
378,576
$218,496
•.
the
Hit.—Special Offering—
by
80
$2,354,738
?
'__
—
the
sales
1,638,825
accruals-
•
amortization
Balance
year.—A
last
...
474,354
1,864,645
■
$494,556
was
34,691
Miscellaneous deductions
—
April, 1944 Mar., 1944
v
res.
Zaro
Manager
of
made
share
6,492,677
$235,339
Retire.,
.Value of bullion output—
$10,951,714
6,547,251
153,327
'•>;
,
Balance
,
Dome Mines,
539,573
$213,201
revenues—
J.
special offering
was
Gross
$3,648,228
Interest
v
$918,483 $11,280,002
35,818
taxes)
Non-oper. income, net—
1944—9 Mos.—1943
$465,780
inc.
that
on
that
fiscal year
company's
charge
A
1944—12 Mos.—1943
163,666
—_
(incl.
stock
in
announced
General
Erie
(& Subs.)—Earnings-
575,966
—
this
-
$988,652
revenues
Operation
1936.
,P<
•;
Operating
Co.—New Secretary—
the
and
com¬
"
Diamond
Straus
Nicholas
of
+
-1944—Month—1943
•
of
1,597
inputs
of
cash."
''Mr.
*1,820
93,630
the
Eastern Utilities Associates
'total,
85,837
95,227
ill
2,119
It is, because
extra dividend
an
Amount
170,411
84,017
159, p. 1971..
per
1943
,
172,530
include
not
panies mot appearing in
.
est.,
come,
the
arid
Electric Power & Light Corp.—
National Power & .Light Co'.__
renegotiation
dividend payable, March 18,
1944, $72,187;
stock tax, etc., $26,980; Federal taxes on in¬
capital
with
-—Thousands
'Operating Subsidiaries of:,
American
totals$5,505,764.
provision
compared
"■A,:':''A":'
Increase
refund, 1943 est., $300,000;
accrued
Light Co.;- as
as follows:
value
deferred charges,
Liabilities—Accounts
&
were
"t
$1,620,420>, $1,626,820; trade
accounts
receivable
(less reserve!, $313,999;
inventories,
$1,099,990;
Investments and other assets, $228,113; property, plant.and equipment
(less reserve for depreciation of $688,168), $976,311;
emergency plant
facilities, $102,188;
Power
during 1943
at
2079-
said:
at this time.
'
Net
—V.
income
159,
p.
1760.
>
60%
A
dividend
has
ordered
been
approximately 9,500 contract
f<«r
in West Vir¬
announcedCircuit Judge Julian
F. Bouchelle has entered an order directing
(Special Receivers H. Isaiah Smith and Arthur P. Hudson to make
the said payment on the allowed claim of each policy-holder who had'
the
Association,
substantiated his
It
explained
was
claims
the
that
.bdsis of cash surrender value of each
date of
,
1944.
allowed uniformly on the
prior to March 4,
claim
were
the
contract as of April 11, 1941,
receivership.—V. 158, p. 2361,
Flintkote Co.—237,902 Shares
Disposed Of—The com¬
16 announced that 227,184 shares of the
237,902 shares of common stock recently offered to com¬
mon
stockholders at $15 per share were purchased by
stockholders or their assigns.
The 10,718 unsubscribed
pany
May
on
by an underwriting
group headed by Lehman Brothers are being placed
privately with investors.
The common stockholders of
record May 2 were given the right to subscribe to the
stock at the rate of one new share for each three shares
held.
Rights expired May 12.
History and Business—Company, either directly or through subsidi¬
which
shares
being purchased
are
sale, and in
of others, of
various
asphalt and asbestos-cement roofing and siding products,
structural and decorative insulation board products, asphalt emulsions,
shipboards and boxboards, solid and corrugated containers, set-up and
folding boxes, dry and saturated felts, rubber compounds, timber prod¬
ucts
petroleum products, and allied products.
Company also receives
income
through
a
wholly-owned subsidiary from the granting of
the
engaged
is
aries
the manufacture or production and
own account or for the .account
in
either for its
sale
patents owned or controlled by such subsidiary or in
which such subsidiary has an interest.
*
Many of the company's products
are sold nationally and sales
offices'are maintained by the company in many of the principal cities
of the United States.
Sales are made to a variety of customers, in-,
retail
contractors,
dealers,
distributors,
wholesalersj
eluding
consumers,
companies
Operating
761.573
369,385
Other
1942
1943
of
taxes
Gross
$6,112,451
8,789
$653,375
$6,606,042
—V.
income
356,898
4,191,978
received,
partic.
415,878
409,372
$5,296,747
$7,657,288
458,683
The
directors
the
on
$5,647,671
4,366,072
3,523,264
$4,431,808
$3,749,899
$2,119,407
219,208
275,282
payable
The
June
$3,858,350
777,431
$4,651,016
$4,025,131
$2,237,162
*1,830,643
*2,516,164
1,761,083
444,594
$1,250,276
$1,518,154
$1,737,661
were
___%
169,839
174,646
94,500
v'JL;
642.335
,
income
—
287,826
w—_
.
Southern RR.—Ruling on
for the Southern District of Iowa
that on and after May 1, 1949, there
the holders of the first mortgage gold
bonds of this railroad company to demand or receive the exchange
of securities
and cash as provided in the plan of reorganization of
said company
and on and after May 1, 1949, there shall be no fur¬
ther right in the holders of said gold bonds nor any other persons
to demand or receive any portion of the free assets of the company,
nor interest payable on said bonds for the years 1939 and 1940,
or any
l)ther
period.
Said bonds must be presented for exchange to the
lowa-Des Moines National Bank & Trust Co;, as exchange agent, on
The
shall
be
—_
before
or
further
the
at
of
dividends
dividends
Common
shares
Com.
Earns,
per
share
$1.51
com.
for
taxes
the
for
and
1943
years
refunds of excess profits
post-war
685.196
$2.34
$2.10
$1.88
-
1942
Finance
revenue
—
1
Ended
Years
of
respectively.
Note—Charges
for
1943.
Proceeds—Since
of
company
be added to
are
and
the
1941,
net
proceeds
immediately required
not
aggregated $833,326
and $439,407 for 1940.
depletion
for
for-1942, $548,425
$685,436
Application
the
depreciation
for
that the entire net proceeds will be used
be
to
received
the business,
in
by
they will
It is presently intended
th^general funds of the company.
share.—V.
General
The
Steel
for the erection of additional
designed to supple¬
in present or related
building material and paper board fields.
It is contem¬
plated that the aggregate cost of this program would be between
$5,000,000 and $7,000,000, the balance of the funds required to be pro¬
lines
In
vided
such
if
company's present production capacity
the
from
several
the
such
company's other funds. . The decision as to which of
plants now contemplated will be constructed,
is feasible, will be dependent upon the judgment
additional
construction
of the maragement and upon
the obtaining of the requisite machinery
and equipment and.upon such priority approval as may be necessary in
connection with the purchase thereof
such
machinery and equipment or obtain permission to erect such
additional buildings, the directors may determine to apply such pro¬
ceeds to such other corporate purposes as the board may from time to
time deem
advisable
and
Capitalization
the
in
best
interests
the
of
of
Less
company.
of
15-year
3debentures, due May 15, 1958—
pfd. stock (no par) (shares)
Common
s:ock
(no
par), (shares)
and
products
its
and
$3,000,COO
38,367
2,500,000
$3,000,000..
38,367
951.608
interest
names
of
the
underwriters
several
30.070,067
4,045,378
23,722
297,207
Net
for
__
—
of
and
plant,
property,
will
cut
be
to
and
the per¬
V •" '
J
■
% of
Unsub-
scribed
,
scribed
costs
125,000
A.
Brothers
23.0
C.
17
Allyn & Co., Inc.—
Bacon, Whipple & Co
—
Bear.
Stearns
A.
Ci., Inc....
Becker &
G.
Alex.
Brown
Dominick
&
&
1 "
Merrill
1.7
Co,.—
&
Laurence M.
3.6
Sons
1.7
....
Dcrrinick—„.
3,6
Graham, Parson As Co._—
Granbcry, Marache & Lord.
ner
Paine.
Hallgarten & Co
10.0
&
war
production
100,000
150,000
—
Webber,
Jackson
10.0
Pomeroy,
M.
Simon
Inc.
750,000
Co.—T
Stroud & Company, Inc
Hornblower
2,5
1.7
White, Weld & Co.—
Weeks—
Co..
Ladenburg, Thslmann & Co.
hand
and
—
...
1.7
1.7
2.5
1.7
2.5
:
3,825,000
profit
;
$2,302,446
$1,578,203
—i_
dividends
_
and
1943
$306,808
——
retirement
debt
deducting
for
169,025
558.161'
163,063
657,251
w—_
dividends
"After
for
—
—
—
deposits
in
1943
12 Mos. End.
Mar. 31, '44
$6,395,267 $28,389,937
5,315,453
24,049,86G
$1,053,492
$1,079,814
40,271
40,472
131,990
$1,0131221
601,198
$1,039,342
$4,208,081
595,163
2,376,715
$412,023
income—
$444,179
;
earnings
—
—
deductions
income
$4,340,071
Dividends paid on preferred
Federal
"Includes
_.
and post-war credits of
normal
income
12
payable to banks, $11,700,000; accounts payable
$7,320,894; Federal taxes on income (less U. S.
Liabilities—Notes
accrued
$1,159,714 for three months of 1944. $670,838 for three months of
and $4,106,199 for 12 months ended March 31, 1944.—V. 159,
1943,
1039.
Georgia & Florida RR—Earnings—
'
•
$44,250
Operating revenues
—V.
159,
$362,419;
$36,237;
$679,255
$814 147
$44,400
—
1943
1944
1943
1944
Jan. 1 to Mav 7
—
—Week End. May 7—
Period—
1862.
p.
(Including Wholly-Owned
profit
Profit
Other
expenses
1943
1942
$2,907,050$3,937,307
929,294
1,371,039
" '
$2,566,268
63,352
$1,977,757
'
42,501
v
252,651
$2,020,258
290,720
$2,629,620
358,254
$2,084,940
$1,729,538
223,354
——
income
Gross
$2,796,654
682,417
$2,114,237
operations.—
from
income
—
$2,337,591
income—
from
Deductions
7
1944
sales
general
from
admin. &
Selling,
Subsidiary Companies)
Jan. 31—
Years Ended
Gross
expenses,
savings notes
to be applied in payment 'of $4,969,331),
principal payments on long-term debt due within one year,
long-term debt. $524,547; reserve, for self insurance (work¬
Treasury
three
Gorham Manufacturing Co.—Earnings—
U. S. Treasury savings notes, series C,
$857,673;
trade
notes
and
accounts
receivable (less reserves of
$328,800), $9,064,213; inventories, $12,712,591; investments, $305,897;
post-war refunds of Federal excess profits taxes, $431,158; travel ad¬
vances
and accounts, $16,819;
miscellaneous notes and accounts re¬
ceivable, $48,427; property, plant and equipment (less reserves for
depreciation and amortization of $2,075,562), $4,647,555; patents, $1;
deferred charges, $284,208; total, $33,395,566.
and
$1,393,866
surtaxes of $390,447 for
and
$385,371
1944.
$425,000
$5,027,025;
Assets—Cash,
109,375
$334,804
for three months of 1943, and $1,608,256 for
months ended March 31, 1944, and Federal excess profits tax (net)
'■?'"
1942.
109,375
stock—
balance
Income
$1,831,366
437,500
$302,648
—
—
Con&olidated Balance Sheet, Dec. 31, 1943
compensation), $150,000; reserve for deferred costs of war pro¬
including
plant
leconversion,
$250,000;
deferred
income,
5% cumulative convertible preferred stock (par $100). $3,197,500; common stock (par $1), $397,252; capital surplus, $1,615,055;
earned surplus, $7,803,643; total, $33,395,566.r—V. 159, p. 1352,
men's
149,999
income
Net
"Prov.
for Fed.
inc.,
taxes-
etc.,
989,625
$2,271,365
133,933
1,205,264
$597,725
$932,168
200,000
contingencies———
for
Provision
142,187
1,255,625
depreciation.—.
for
Provision
duction,
$38,019;
Foods Corp.—Perfects New Method—
Rector, Vice-President in charge of research and de¬
velopment, on May 15 announced that after two years of research,
a
method has been perfected for making fine quality syrups from
starchy cereal grains other than corn, and that the process is now
General
Thomas
M.
Several
cars
sold.
and
to
be
p.
1861.
Rye, being the
the
V :V
production.
of sorghum
commercial
material
raw
" ■"
■
■
'
.
.'v
the
bulk
of
the
product.—V.
new
;
■
$619,340
4,174,497
$932,168
4,021,765
$4,793,837
487,147
$4,953,933
389,718
Surplus at end of year—$4,396,287
$4,306,689
$4,174 497
$2.46
$3.18
Gross
Surplus
sales
of
sales
of
Cost
$5,250,207
—
&
4,689,265
Gross
profit
20,266,198
5,780,066
22,227,174
.
$1,046,222
$2,431,953
$4,363,707
29,249
—
30,715
242,462
231,805
$560,942
:
—
credit
for
in
."! ■/,
1942.
;
Balance
31
$4.78
1,480.00ft
—627.429
S.
Treasury
1943
$1,178,357
of, indebtedness—r._—3,000,000
certificates
S.
,
i
1944
$649,160
—
S.
,
\
Sheet, Jan.
L'
Cash
U.
7
profits tax of $1,020,000 in 1944 and $733,333 in
refund of $102,000 in 1944 and $22,222 in 1943,
debt reductions of subsidiaries of $51,111 in 1943 and
excess
Consolidated
U.
.
779.436
post-war
Assets—
U.
$4,786,005
share—k-__T_
per
(less
$715,000
$6,826,287 $22,698,152 $26,590,881
4.306,689
charge—dividends—
"Including
1943
exps.
operations
surplus
•
Earnings
1944—12 Mos.—1943
1944—3 Mos.—1943
Period End. Mar. 31—
$479,316
income
Net
159,
'
21,614
prior years
Surplus at beginning of year
.
General Refractories Co.—Earnings—
$479,316
year...
accruals for
tax
Excess
the
for
income
Net
,.
grain syruo have already been produced
most available grain at present, is expected
for
.
n^tes, tax
series-—————
50.000
313,539
savings bonds—
Notes and accounts receivable, less reserves—.
Feeeivable from U. S. Government——.—
*
50.00ft
„——
$590,191
$1,076,937
$2,674,416
$4,595,512
amortization
188,837
177,518
736.034
695.859
Other
investments'
259,968
318.600
174,263
2,081.874
500,000
150.508
7,998
9,517
36,670
property1,213,007
1,282.962
126,992
150,750
489,864
42,932
568,033
Plant
Other
income
from
rious
Total
profit
va-
sources
&
■
Depletion
of
Amort,
\
3Va%
3,438
18,754
deductions
Federal
A{
Deferred
—
in
Gorham,
Inc.
200
21.759
3,936
•V 81,483
93,752
2,402
_____
.1,136
105,352
308,817
172
<t:
119,358
493,837
404,521
,
1,851,338-
Er,.__
_or
469,713
tal
SvOck
$125,677
$222,220
„orn
shs.
,
$816,557 (,'$1,031,343
■
of
-'
*
,
-
t
174,431
Liabilities—
Dividends
payable
payable
taxes
$138,503
$0.47
$1.74:*!
98.217
1,110.075
104.lq6
—
salaries, wages, etc.
Surplus
reserves
stock
82.947
619.794
369.132
2,006,550
2.006,550
——
—
4,304,410
Surplus
stJotal
$0.27
$136,690
98.033
1,456,831
-----
—,
4,214,812
$8,728;315
$8,018,423
■
capi¬
."
500,000
$8,018,423
Accrued
profits
—
•
$8,728,315
—
Canital
excess
(est.)
•
——_________167,681
charges
Accounts
Accrued
inc.
Penna.
taxes &
tax
(net)
———
Total
^
Interest
Other
Inventories
Investments
143.163
2,431.792
note
& prem. on note
exp.
Net income
Sheet, Dec. 31, 1943
demand
banks, $3,286,634;
marketable securities, $4,908,940; notes and accounts receivable, trade
on
(& Subs.)—Earnings
$7,244,449
6,190,957
revenues-
operating
Interest
2,761.276
5.3
5.3
Consolidated Balance
Assets—Cash
issue of
an
781.020
____
—.
tax___
retirement
;
&
Swiss American Corp
Wertheim &z Co,—-
&
1.7
Schncllkopf, Hutton &
2,5
M. Kidder &
.&
L. F. Rothschild & Co
I.
Corporation
3 Mos. Ended Mar. 31
income
Net
p.
and declared value
surtax,
profits tax
profits
Deprec.
5.3
Beane
Hemphill. Noyes & Co
A.
2,5
Pierce, Fen-
Curtis
3.6
3 6
Marks & Co.—
Lynch,
approving
with $315,000 plus participating
$19,000 in 1943.—V. 159. p. 1761.
over
General Telephone
of
of
plant reconversion)
Stock
Sto"v
Lehman
On Issue—
Corporate & prop, taxes
Unsub,
5V2%
compared
$250,000.
Period—
months of
contingencies—
deferred
for
Common
.
.'
1944, a total
bonds, series A,
of July 1,
stockholders will vote May 26 on
rights, which amounted* to
95,224
aebt—
7,676
Income tax,
"Excess
centage of unsubscribed stock to be taken by each follow:
% of
as
mortgage
non-participating cumulative preferred stock carrying a 5% dividend.
Annual preferred dividend requirements, under the new arrangement,
Net
23,704
general^ etc., expenses-
expense
obsolescence
on
Net
stock reduced to 36,817 shares.
,Und:nv: iters—The
first
General Steel Wares, Ltd.—To Vote
The common
end
preferred
outstanding
will be made at the office of J. P. Morgan
& Co., Incorporated, 23 Wall St., New York, N. Y.—V. 159, p. 1972.
Dec. 31
49,742,508
4,140,730
sold————
service
long-term
on
(including
"Including 1,550 shares reacquired for purposes of sinking fund for
preferred stock and held in the treasury.
On April 11, 1944, such
reacquired shares were permanently retired and the amount of author¬
ized
common
share of pre¬
1, last, and
int. Payment
Net
___
administrative,
Provision
in
Giving Effect to Present Financing
"$4.50 cun.
each
March
on
1656.
corporation has called for redemption
102 V2
Other
equipment
Authorized Outstand'g
,
159. p.
$1,100,000
and the construction of necessary
In the event that the company should not be able to obtain
buildings.
made
Castings Corp.—-Calls $1,100,000 Bonds
at
$61,239,271 $39,579,890
-
___
income
interest
plant facilities and expansion of existing facilities,
ment the
receive
may
for
share
was
1, .June 1 and Sept. l, 1343, while on Dec. l, last year, the
a dividend of $2.75 per share in cash, or 121/1,500ths
common
a
7'V
1943
1942
$60,675,053 $38,708,495
155,499
619,750
408,719
251,645
:
,
:
u
inccome
Cost
685,196
after deductand $201,000,
are
of $108,500
taxes
option,
one
'■Operating expenses and taxes—
(& Subs.)—Earnings—
—
Preferred
689,574
699,706
713,706
713,706
"Provisions
ign
638,458>•' '
outstand'g
their
of
distribution
corporation paid
v
Preferred
$1.50
preferred stock (optional
June l to holders of record May 16.
1944
Statement,
'-V
-
sales
excess
income
Cash—
dividend of
quarterly
convertible
44/l,000ths
similar
A
usual
the
p. 2249.
157,
Income
■■■'
V
excess
Net
declared
cumulative
$6
rate
stock.
March
on
in
1949.—V.
1,
May
right
Consolidated
Normal
and
income
profits
taxes
contingencies—
have
the
on
Operating
356,018
526,437
616,698
directors
share
stock dividend series), payable on
In lieu
of cash, stockholders,
at
providing
order
an
no
pursuant to an order of the United States
District of New York; of a waiver of
District Court
States
United
entered
has
trustees of Asso¬
the delivery by
subject to
year.
Bonds—
Provision
income
deductions
be
Southern
of
$1,436,550
4,581,494
$3,570,524
for
amounts
will
General Shareholdings Corp.—Div. in Stock or
The
announces
Dodge, Des Moines &
$200,000; accounts pay¬
their right to receive the dividends on the shares of $5 prior preferred
stock held by them pending further order of the SEC.—V. 159, p. 1972.
that the date of the next dividend meeting
but is expected to be held in November.—V. 157, p. 1843.
fixed
Other
and
1.
June
stock,
capital
value
Like
par
no
last
10,
Dec.
and
10
June
on
Fort
Selling,
Falance
Total
shares of outstanding
10 to holders of record
company
is not
117,755
$9,013,302
4,418,871
application
ferred
cents per share
16 declared a dividend of 50
May
on
year,
less
350,924
$8,115,971
$7,989,395
profit
Income
:
100,000
disbursed
Other
V--*.V>Y
less
others—-
by
The
ciated Gas. & Electric Corp.,
stock
14,601,000
19.493,881
$8,603,930
licensing,
admin.
general expenses-
Other
'
Inc.—50-Cent Dividend—
Ford Hotels Co.,
Total
Total
'
1972.
159. p.
$1,846,605
$2,414,064
$296,477
one
$537,309;
1-1-57,
District Court for the
4,274,635
$359,662
—.
due
directors on May 11 voted to file an application with the Se¬
to pay, out of capital
surplus, a regular quarterly dividend of $1.25 per share on the $5
prior preferred stock and, in addition, dividends aggregating $5 per
share covering all arrears in dividends on such stock.
per
Net
notes due within
others,
General Gas & Electric Corp.—Dividend Application—
$6,121,240
281,777
charges
and
notes
1940
$7,573,517
profit
Royalties
Prov.
$6,590,397
15,645
2,365 X
$641,439
income
Fruehauf Trailer Co.
1941
.
23,303,022
23,424,644
sales
Gross
:
1,904,505
935,277
2,100,000
$651,010
1,038
(net)
income
4:
$640,401
revenues
oper.
v
175,000
3,223,176
958,480
2,100,000
260,305
86,863
175,000
90,451
—_—
_
retir. res. approp.
Interest
Net
&
......
trade
The
$1,737,530 $20,957,267 $17,451,763
564,352
8,072,214
6,399,530
$2,036,810
revenues
taxes
.
1944
curities and Exchange Commission for permission
1944—12 Mos.—1943
1944—Month—1943
Federal
Net
"i
Light Co.—Earnings—
Operating expenses
Other
director to
a
^^.■
&
Power
Period End. Mar. 31—
Prop,
been elected
Sheet, March 31,
accrued accounts, $691,331; 3Va%
payments due within one year of
$200,000), $2,106,000; reserves, $193,605; collections from employees for
purchase of U. S. War Savings Bonds, $56,053; capital stock and sur¬
plus as annexed, $17,798,417; total, $21,582,715.—V. 159, p. 935,
Director Elected—
York has
New
able,
promissory
the
of
Balance
Liabilities—3 Va %
.' ''v.,'""- ■»'
the board. He retired as a Vice-President of Chase
City of New York on March 31, 1944.—V. 159,
on
Bank
Florida
$30,998,161 $31,906,952 $27,151,169 $19,897,747
sales
Sell.,
of
Batchelder
F,
vacancyy
350..
p.
Earnings for Calendar Years
and
Sales
Cost
a
be
in banks and on hand, $2,264,971; U. S. Government
$625,242; accounts and notes receivable, less reserve, $2vinventories, $3,278,006; accrued interest receivable, $5,701;
post-war refund of excess-profits taxes, est., $4,421; investments, miscell., $17,814; investment in Northwest Magnesite Co, (net), $1,196,901;
deferred
accounts, $219,031;
repair parts, etc., $509,055; employees'
war
savings bond account, $56,053; real estate, buildings, machinery,
equipment, mineral lands, etc. (less reserve for depreciation and deple¬
tion of
$6,941,503), $11,116,087; total, $21,582,715.
v'.-X Xr
Canada.
•■''V
Net
Charles
fill
National
to
Assets—Cash
self-insurance, product guarantees and contingencies,
debentures, due May 15, 1958, $3,000,000; $4.50
cumulative preferred stock (38,367 shares, no par),, $3,740,783; com¬
mon stock (317,706 shares, no par), $7,020,007; capital surplus, $73,921;
earned
surplus, $6,128,340; treasury stock
(1,550 shares of $4.50
cumulative preferred stock), Dr$162,753;
total, $24,161,960.—V. 159,
First Boston Corp.—New
currently 'existing
289,433;
for
:.v.\>%.'
benefit
the provision.r
1944, includes only
rates.
No
derived from "two-year
March 31,
at
securities,
$378,274; jl5-year 3%
P. .1861.
tax
income
anticipated
any
r
accrued items, $2,603,511;
$1,379,876;
payable,
for
normal
carry-back and carry-over;' of unused excess profits credits.
or
Liabilities—Accounts
provision
outlets,
manufacturers, governmental agencies, transpor¬
and public utilities.
; ■
, ;.
" r
Sales in foreign countries, including Canada and Newfoundland, are
estimated to comnrise less than 3% of the total sales of the company
and its subsidiarise, and'have been sharply curtailed by restrictions on
exports.
The Flintkote Co. of Canada, Ltd., is engaged in the manu¬
facture and sale of asphalt emulsions in Canada and, through a sub¬
sidiary, Colas Newfoundland, Ltd., in Newfoundland. Industrial Asphalts
Co., Ltd., an English subsidiary, is principally a service organization
maintained in the United Kingdom for the purpose of advising and
servicing the users of industrial asphalt emulsions in the United King¬
dom and other foreign countries, and it conducts certain of the foreign
saies operations;
1
* ■,
*■",
■*
The principal materials used in the manufacturing activities of the
company are asphalt, rags, old paper, reclaimed rubber, mineral gran¬
ules and slag, wood and wood pulp, asbestos fiber, Portland cement,
fuel oil, clay, coal, creosote/petroleum solvents, mica and talc, steel,
and metal containers.
To date the company has not experienced par¬
ticular difficulty in obtaining such materials, which it procures mostly
from domestic sources, although part of the asphalt is obtained from
Central and South America, and most of the asbestos fiber is obtained ;
industrial
from
cost
under
licenses
tation
at
required for excess profits tax,
for. the quarter ended
Federal
provision
nominal amounts, $27,225; property, plant and
equipment (less allowance for depreciation and depletion of $7,005,431),
$9,107,521; patents, royalty contracts, other rights and goodwill, $1;
post-war refund of excess profits tax,- $309,500; prepaid expenses and
deferred charges, $184,463; total, $24,161,960.
vestments,
now
taxes
estimated
$16,296;
in receivership, residing
ginia, 33 other States and the District of Columbia, it is
of
accrual being
for Federal
inventories, $3,114,256; due from employees, mostly travel advances,
accounts receivable from foreign agent and sundry, $121,350;
investment in subsidiary, not consolidated, $19,630; other security in¬
Dividend—
holders
'Note-XNo
doubtful notes and accounts of $238,539), $3,066,144;
(less allowance for
(Wheeling, W< Va.)—
Fidelity Assurance Association
60%
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2080
$2.20
—V.
...
—
158, p.
391.
,£
Volume 159
Number 4283
THE COMMERCIAL
Liabilities-
Goodyear Tire & Rubber Co., Akron, O.—Changes in
;
!
•
Long-term
development of its- post-war plans in the export field,
Cameron, Vice-President and General Manager of the Goodyear
Export Co., announces the following field representative
changes in overseas territory and in Akron. 1
!"•'
Continuing
A.
Russell
W.
china,
Indies,
K.
has
with
Division
Manager
as
of
the
rmainder
of
have supervision'over Australia*.'
\
839,376
5,737,704
unpaid—170,851
E,* Barton,
who
former
was
Manager
•
the
of
mechanical
6,129,507
accrued.—
127,638
department
Hadley, '"■/,■
the
for
company in Akron,
succeding Mr.
' '.-.''"l1".'■•'*■ "■ ^//f'"'-"" ■ r".
export changes include the naming of C. R. Bollinger as VicePresident in addition to his present position as Secretary-Treasurer
for Goodyear—Argentina, and D. M. Hastings as Managing Director
the operation in
W. A.
"Does
is enroute
1943,
Treasurer
Calcutta,
Goodyear—India,
for
last winter.:,
/
■;
title of
succeeding
J.
R.
Vice-President. .;>>
Schubert,
who
died
1352.
.vY/// Y;"Y-v:"Y'
■//..,
■
//.;
:
' ■/'■'*
for
-yi/;/
1944
1943
$1,294,419
maintenance
expenses;
Provision
;v
.
(& Subs.)—Earnings—
earnings
Operating
■'
;
'
depreciation
and
and
retirements—..
86,452
$533,474
,\
Int.,
„y.'
amort,
of
debt
disc.,., premium
subs.—..—
expense, etc., of
Minority interest
,
Great Northern Ry. — Annual Report—F. J7 Gavin,
President, in his remarks covering operations for 1943
stated:
" YY*
/,'.■■•*
Y / \Yv;
■,
(net)
83,911
,
The
second
volume
of *
delay.
essential
i
rendered
that
than
the
and
have
foun<j
war
traffic
record-breaking
dollars
Northern
$424,490
important
an
personnel. '
added
service
notwithstanding
the
to
investment
since
Funded
debt
reduced
was
fixed
charges at the
time since 1920,
end
by
of
nearly
the
year
in
Net
—v.
/
millions
the
232,359
were
on
during 1943, and
lower basis than at
a
-i/-.
''
YYyYY/YZ-V'
■.
1943
.
\
.
Operating
Net
':'
■
revenues
1942
$
Fixed
charges—
Indebtedness
12,506,172
retir.
13,710,996
with
"
cash
25,992,984
30,727,340
4,997,798
per share—
7.84
share.
—/;//'"* 19.39
per
4,997,795
11.63
61.2
8
earned-
Dec.
cap.
.net
(1000's)
mile
181674,596
(1000's)
net
mile
per
—^
v.'"
"
'
; Income Account
revenues.,™
Income
Other
V*
^
."'*
Maint. of way & struct.
of equipment.,—
stock,
8,068.72
**' $> ' 1 ' •
Net
101,743,146
Profit
'
18,801,376
16,628,547
26,300,208
2,509,275
21,236,550
2,492,003
17,436,498
3,176,345
from
49,779,649
41,672,967
34,862,432
2,487,472
1,506,469
3,181,612
2,528,181
tax
Ry.
46,721,517
12,273,206
29,340,489
390,019
'' 387,503
41,160,215* 29,854,494
1,359,935
1,223,884
23,568,217
355,204
629,075
28,562,967
5,061,255
39,445,076
28,001,535
4,592,878
3,626,250
3,218,139
——„—33,624,222
deductions——,
1,527,502
44,037,954
31,627,785
25,025,203
1,272,937
926,706
604,881
income,
'
Joint racil. rents, net Dr
other
ry.
oper.
income,
income—
net
Miscell.
available
fixed
Fixed
for
>•-■•••
...
charges—,-,—
*
32,096,720 y42,765,017
charges——12,506,172
The
,;400,005
Net
income
Income
and
19,590,548
applied
29,054,021
250,000
250,000
res.
14,212,128
for
■
...
funds,
invest.
in
incoms
1,250
26
——-
Income bal.
Earnings
15,000
372
1
taxes
bal.
assets
accounts
Interest
and
dividends
Balance
Sheet,
Dec.
on
Hanna
stockholders
—
on
cumulative
the
on
stock
basis
May 17 authorized
stock
a
Boston
sThe,( plan
<
l/20th
shares
shares
1
contemplates
for
new
will
.
Federal
4,000
2,000
New York
10,000
4,000
Noyes
&
&
Co.,
Co.,
Lemon
New
5,000
—^
York
8,000
New York—
&
2,000
.'
——
-
7,000
—
Co.,
6,000
™
2,000
2,500
10,000
__
5,000
—
12,000
2,000
/
6.000
10,000
Rollins
5,000
M.
G.
&
Sons,
&
Co.,
York—
—
Corp.,
Anthony &
Walker
&
2,000
Account,
1,500
——
Ended
5,000
—.
—
Years
1944
1,500
Jan.
1943
inch
sales
of
leased
partments
1,500
York
New York
St. Louis
■
Sales (less returns)
7,000
i
New
•
1,500
—
.
Co.,
Co.,
Income
I
1,500
—
5,000
St. Louis™.
American
H.
;
New
&
Co., New York,.
Simon & Co., St. Louis
Bros. & Boyce, Baltimore—
Tucker,
.
31
1942
1941
de¬
/
of
sales—,———
Selling,
admin.
&
.-.'O"
"•
v
'
$40,544,947 $38",763,187 $34,386,951 $29,003,932
24,590,273
23,264,421
20,414,569
17,510,979
genl.
-
-
•
•
V-:
■
*
10,945,599
11,239,370
10,600,029
9,219,164
$5,009,075
$4,259,396
$3,372,354
;$2,273,789
expenses
Other
—A
income
Total
428,438
427,919
704,592
726,898
$5,437,513
,076,946
$3,000,687
87,192
$4,687,315
;
136,370
33,519
39,679
676,176
659,678
deducations
Co.'s
contribution
retirem't
for
tax,
There¬
profits
Post-war
Prov.
■
Fed.
exc.
for
Prov,
—
to
income
surtax
value
actually $9,084
were
——
income.
Other
excess
plan
normal
decl'd
&
profits tax
Federal
840,726
—
refund
for
908,133
715,603
1,265,255
981,867
114,397
Cr220,765
other
taxes
834,745
2,207,654
exc.
tax
income
Net
i:—'
profit
138,178
111,854
106,054
67,514
—
$1,708,351
$1,679,412
$2,047,374
stk.
41,176
47,004
47,004
$2,063,494
47,004
Divs.
1,471,260
830,550
/ 996,660
stock
be
basis
preferred
in
are
for
of
it
is
exhausted.
share
and
$100
stock
which
each
issued,
per
in
of
lieu
share.
deposited for
deposited until
The
6%
on
pref,
4
on
pref.
offer
will
31, 1944, unless extended by the board of directors.
that all shares of present preferred stock not
exchanged
preferred stock will be called for redemption at $105 per share
dividend.—V. 159, p. 1863.
accrued
60,563
Common
value.
not
the
on
present
the order
preferred stock
new
new
will
—
stock
issue of 100,000 shares
par
of
be made
that
accepted in
100,000 shares of
terminate on May
and
Corp.,
Rothschild
Swiss
deducting post¬
$84,537.
were
new
no
of
Fractional
thereof payment in cash
t
8,000 '
-
F.
Stix
$0.34
after
1943
5,000
12,000
—
H.
Stein
C6.—New Stock Authorized—
preferred
of
held.
(The) Hecht Co.—Stock Publicy Offered—With the
public offering May 16, ,by a group headed by Goldman,
Sachs & Co., of 191,515 shares of outstanding common
stock (par $15) at $21.75 per
share, securities of the
agents
and
conductors*
receivable—
_'
receivable——
s
5,000
1,262,325
3,105
„—
/;"/
dividends—
;
Assets—Cash,
accounts
assets,
$2;380,432;
(net),
total,
fixed
securities, $2,634,940;
inventories, $4,542,261; other
$7,194,837;
deferred charges,.
Government
S.
$6,410,405;
(net),
assets
;
:
creditors,
customers'
merchandise
accruals and reserves, $900,999;
excess
v
miscellaneous
$707,369;
$68,423;
$53,302;
and
31, 1941
$23,911,800.
Liabilities—Trade
able,
Sheet, Jan.
U,
receivable
$293,160;
$455,766;
/
977,676
Balance
reserve
for
:
;
accounts pay¬
and
refunds,
certificates
Federal
income
profits
taxes, "$1,275,138; other reserves, $189,030; \xk%
stock,
$5,700,000;
common
stock,
$11,105,640;
earned surplus, $3,911,898;
total, $23,911,800.
v
"After
deducting
tax
anticipation
note
(plus accrued
interest)
amounting to $1,917,402.—V. 159, p. 1973.
cumulative
preferred
issued and
largely in the
Trust
Transfer
Co.
Agents—Guaranty
4,638
of
Baltimore.
4,754,634
10,0t>l,627
14,317,044
29,463
41,387
Registrars—City Bank Farmers
Co. of Maryland, Baltimore.
Co.
of
New
York
and
Mercantile
'
„
Trust
Co.,
New
York,
and
The
business was
established in 1874.
Company's stores "vary from
being geared,'under separate operating managements, to
merchandising requirements of the
different communities and
customers which they serve.
The
principal lines of merchandise 01 the stores, considered to-
one
the
7,437,179
5,942,005
897,758,232 868,570,352
another,
gethered,
are
apparel—women's,
men's
and
has
been
elected
director
a
A.
L.
has been placed in
E. P. Goetz, who has
and
\ -
Schiel,
Assistant to
the President,
has beer, elected Executive
Vice-President.—V. 157, p. 253.
Heywood-Wakefield Co.—Earnings—
Quarters Ended Mar. 31—
♦Net
profit
children's;
home
fur-
1944
$116,444
—
provision
Richard
the'war
Union
History and Business—Company
is engaged in the operation of
eight retail stores, including branches, located in Washington, Balti¬
more,
New York and Easton, Md„ which in the fiscal year ended
Jan. 31,
1944, had a combined sales volume exceeding $40,000,000.
285,040
Bennett
N.
Sales during
Trust
1,660,038
G.
retired.
"After
Trust
101,980
1,010,767
(H. J.) Heinz Co., Pittsburgh—New Director, Etc.—
J.
charge of the purchasing department to succeed
now
templated by the company.
51,495
740,376 shares
continuing
remainder
hands of members of the Hecht family.
Listing of the
common stock on the New York Stock Exchange is con¬
316,768
——
the
The shares offered constitute
13,014,000
5,636,701
48,753
being made available for the first time to
28,397,676
15,232,327
16,409.394
41,625
;
are
outstanding,
1942
34,200,000
'
Unadjusted debits
Total
15,000
31
—
Other current assets
assets..
——'
$48 683
March 31, 1944. amounted to $1,780,095 and
$700,660, compared with $1,819,296 and $844,613,
March 31/1943,—V. 158, p. 2580.
■
v /
company
receivable—,,
Deferred
of
Chicago
were
broad public ownership.
about 26% of the total
;
supplies—
and
t93,621
-wr
surtax,
refund,
6,000
I.
of
as
Co.,
1,500
4,000
7,644
■/;■.:/
$4.09
balance, Br
Miscellaneous
Rents
>
792,128,973 789,010,052
Material
taxes
three months
1,249,448
$
from
$149,948
3,398
and
State
less post-war
9,930,131
receivable
receivable
1943,
for first
$6.72
Special deposits
Net
for
4,997,790
■
service
24,515
860
$61,731
income
and
num¬
agreement
L.
Prov.
Federal
Federal
,' 16,510,260
24,984,647
car
for
other
$11.63
—
bills
1943$149,088
;
$176,327
—
4,997,795
Special deposit for U. S. income taxes—,
Temporary cash investments,—
and
'
$172,949
3,378
—.
28,802,399
Cash
Traffic and
:
„
1942
'
&
&
—
1944
$7.70
General
Assets—
Loans
v,
underwriting
E.
Cost
31—
4,997,798
share,,,__
Investments
•
respective
;
Higginson
15.
'./.V'.',:
19,340,522
declared
per
May
263,063
transf. to
profit and loss,
Dividends
10,208,194
:
the
under
and
-
phys. property
appropriations
Miscell.
of
-v
259,899
-
record
of
$0.44
profits
$4.25
present
24,420,322
16,785,159
to sink.
other
approp.
Inc.
to holders
July 29, $1, and Dec. 21, 50 cents.
,-v;■/;.'/,
provision
It is intended
,
follows;
L—111,198
exchange will be
13,915,920
57,000 shs.
740,376 shs.
underwriters
:-'/4.
Outstanding
57,000 shs.
750,000 shs.
Co.,
Hutton
.
; It is proposed to-offer to holders of present $5 cumulative preferred
stock an opportunity to exchange such stock for the new
preferred
■
30,701,079
13,710,996
1944
31,
1,500
Divs.
21,807,064
N'.'".•*/
.•
as
'
and
(M. A.)
1,361,148
;
Income
payable May 29
—
respectively,
stock
Total
$1,
March
current liabilities
of
Net
purchased
v.
com¬
Newhard, Cook & Co., St. Louis—-——.W-----.---Piper, Jaffray & Hopwood, Minneapolis———
Robinson, Rohrbaugh & Lukens, Washington,,——
of deposits to Central
159, p. 1447.
/
/ :
greater than reported.
35,841,423
16,867,023
oper.
partici¬
($7,224 for 1944 compared with $5,606 for 1943).
Current
71,887,555
30,727,340
Equip, rents, net Br——
certificates
depositary.—V.
L'-'V.";.'-——
credit
fore
157,774
48,461,070
—
who
plan
each
equal principal
6% bonds, due
an
share
per
tActual
2,161.732
215,100' / :
77,801,559
tax accruals
par
taxes
♦Estimated
war
836,991
General
1,001,720
2,317,214
Net rev. from ry. oper.
such
as
Income
30,034,420
Misecellaneous opers.—,
Ry.
of
Co.,
operations——.
profit
profits
2,359,067
Transportation, rail line
expenses——
and
Vv
13,230,789
35,530,748
Transp. for invest., Cr__
1945,
its
that
are now entitlde to receive the first
capital stock of the company yas provided
surrender
1447.
p.
"Federal
8,071.53
28,616,041
—
1,
to
Trust
income '
Total
!'
*'
June
effective
provides
Other charges (incl. prav. for officers'
bonus)__<
1940
125,044,883
..
200,573,426
the
of
names
'
Balance
165,206,031
.
Jan.
Cop., New York—
Lehman Brothers, New
York——,——4—..
Mackall & Coe, Washington
Mackubin, Legg & Co., Baltimore—
Merrill Lynch, Pierce, Fenner &
Beane, New York—
3.178
8,094.73
•
bonds
Quarter Ended
-
for Calendar Years
8,209.57
which
E.
Lee
ir/: Haloid Co.—Earnings—
-TYY-V
1941
,
Washington,,
Robert C. Jones & Co.,
Washington—,
Kebbon, McCormick & Co., Chicago——,
Kidder, Peabody & Co., New York
-
,
:
Maint.
Traffic
common
1.044
.836
,
Authorized
be
to
Becker
&
Hemphill,
be known as first
mortgage
capital stock of the company at the rate
$100 principal amount of present bonds. Holders
Payments last year were
382,822
1.601
.71942
%%
plan upon
/—v. 159,
7
of
as
v'
Brown
Johnston,
together with
for each
8,525,875
7
1.719.
declared
due
may
company on original issue.
The insurance
all at par plus accrued dividends.
—
Grumman Aircraft Engineering
Corp.—$1 Dividend—
The directors on May 4 declared a dividend of $1 per share on the
/
2.06
304,050 7
1
bonds
No.
although
of
Folger, Nolan & Co., Inc., Washington
Goodwyn & Olds, Washington,
Hallgarten & Co., New York—
certificate^ of deposit
the
68.4
', >;•• '•
\
the
6%
war.
was
—
5.02
2.21 '
/.
The First
'v^
will receive for the present bonds
bonds
new
1953,
lien
3.67
77- ■ v.;.
.857
.
1943
.•
//'
..
oper.
*
1.702
..
Average mileage of road
operated
Ry.
V
,
534,239
vvVz-Y ■•■'7.7
,
Payments in 1943
cents each; Sept. 15, 50
■
collateral
share
mortgage
^
■
last,'
25
,
Hanover Bank &
<f-vV"77'!Zz'-v-z.-./"'7;77
.896
passenger
(cents)
/,,;.
'■■■■ 1
1,107,901
—.'
•
Revenue
in
7.73
16,712,427; / 13,215,682
VZ-;-.
ton .mile'
(cents)
12,510,202
77 Z7:7''r'/:-7,:.Z;
one'
-
of
its
of
1,
of one
47,452,799
9,140,727
62.5
3.12
of
amount
2.00
•
•
56.5
2.57
-
20,
15,
previously announced, company has
recapitalization dated Dec. 11, 1943,
Dec.
:7V.'' 7-7
$32,747,241 $31,007,835 $28,889,812 $21,392,251
—
per
■
31_
ton.'miles
'Passengers .carried
•
for
2,723,274
7 ;."S;
1.—_,u-——-Z7Y
Net work.
.Revenue
June
•
■
...
6.75
2.00
■
■
holder
Zv-.
12.30
2.007
March
on
and
Certificates of deposit for -collateral lien 6
% bonds due June 1, 1945,
suspended from dealings on the New York Curb
Exchange at the
opening of business May 16, 1944.
■"./
As
6.72
»
ings—
pates in the plan,
,
16,867,023
4,997,790
No. of times fixed chgs.
Rev.
:
48,461,070
income
31
on
19,258,803
48,070,194
Dividends per share
*•% of oper. exps. to revs.
■
>
,
58,124,141
„
Dividends
Net
,
72,771,043
—
March
18,194^079
5,620,138
employees
Taxes
:
company
Inc., New York
Sons, Baltimore
Frank B. Cahn & Co.,
Baltimore———4—
Ferris, Exnicios & Co., Inc., Washington™,
W.
111,861,755
13,915,920
25,997,529
-7 ;7..Zi.Z.
Total Wage payments to
Taxes
r
disbursed
was
follows;
G.
Alex.
Grocery Store Products Co.—Suspended From Deal¬
„
1931/
$
200,573,426 165,206,031 125,044,883
19,590,548
29,054,021
16,785,159
the
were
shares
Biyth
were
Ended
from
an
the
follows;
A.
the usual quarterly dividend of $1.25 per
the $5 cumulative preferred stock, payable June 30 to holders
record June 21.—V. 159,
p. 1761.
of
Average for
w7"'
1941
the
time,
Shares
$205,378
May 16 declared a dividend of 50 cents per share
stock, payable June 15 to holders of record June 1.
common
for
modern¬
communities
Goldman, Sachs & Co., New York—
Arnold and S. Bleichroeder,
Inc., New York——„
Auchincloss, Parker & Redpath, Washington——
Baker, Watts & Co., Baltimore
on
The directors also declared
Ten Years
-,;
,/
™,
income
of
as.
1554.
amount
as
share,
-Calendar Years
—
■
$197,138
cents; and Dec.-10, $1.
^zzy-h/y,:Y
are shown below. '1
Corresponding data also are included for the average of the 10 years
with 1931, when net income was
approximately the same as
for
1943.'-':;Y'Z,;ZY/ZZY/Z
/■//'■:,■ fkv'Y-"''v '-W
1
,
the
provided
Number of
./
/
1—
directors
like
were
ended
;/Y. YY/z Y^;Yz YYYv;Y;YYY
159, p.
the
on
A
.
$23,500,000
-4
Item—
income
The
aver-
v.:
;iV;
YY'XHighlights of 1943 *
/ Highlights of 1943 compared with 1942 and 1941
v)
bers
are
(B. F.) Goodrich Co.—50-Cent Common Dividend—
Great
the
to
present
was
used
store
——
moving
the
in
exceeded
prior
the
,
aggregate
of
suburban
in
■
Underwriters—The
/YY>.;Y //'YVzzY
.
and
revenues
been
of debt disc., premium (net) and
etc., of Greenwich Water System, Inc..
largely
juot
at
stores
very
programs
completed
planned
Capitalization
$437,737
227,352
—
been
for
Funds
amort,
exp.,
railway handling a larger
before, without congestion or
ever
nation
Int.,
,
,
....
the
1901, its net income for 1943 barely
net income for the years from 1901 to 1930.
agen
any
the
materials
war
Desp'ite
of
freight
has
It
of
year
Balance
is
branch
exception,
business to which
1918.
cumulative preferred stock (par $100)
Common stock (par $15)———.
9,496
»
somewhat
in
v-4y4 %
86,241
9,458
.
and
minor
one
have
funds
also
generally
of
purchases
pany
and
...
medium
family
the
incorporation
business
were
1943,
stock
68,936
$517,859-
as
developed...
In December,
661,851
;
the
some
•
income
of
expansion
■■■'
Gross
^
its
upon
war
companies
$1,264,260
690,108
taxes—.
of
with
of
management
were
major
preferred
$5,477,207 $14,432,371 $14,573,947
•
12 Months Ended March 31—,
Gross
M. S. Meyer, who has been a member of the Comptroller's
foreign
department at Akron since Sept., 1942, has been named Assistant Man-',
for India, and is enroute to Calcutta to assume his
159, p.
1447.
Greenwich Water System
aging'Director
duties.—V.
$5,266,750
^
V. 159, p.1'
part
$5,270,400 of 4% cumulative
purchased by The Prudential
Insurance Co. of America and seven other insurance
companies from
stockholders, including most of the directors, officers and principal
.stockholders of
the
company,
as
well
as
associates,
who received
such stock upon reclassification of the
previously outstanding com*
mon
stock of the company—9,492 shares—into $5,695,200
par
value
of
preferred stock and the 740,376
shares of common stock now
outstanding.
The additional $4,800 par value of the $5,700,000 of
preferred stock now outstanding was purchased by such insurance
:
.
(II. L.) Green Co., Inc.—April Sales Off 3.8%—
3.0—:.N V". i944—Month—1943
1944—3 Mos.—1943
''j v'/Z:/ YZZ'Z/>;Y
which
the
stores,
company's
the
earnings,
after
be
•
.
Period End. Apr.
Wylie, who joined Goodyear a short time ago as a, mechanical
goods representative in New York, will become, a member of the India
sales organization;; Mr. Wylie was former manager in Manila for the
Singapore Rubber Works and i more recently - was with the Rubber
Development Corporation in South America.
/•'Y;,:ZJ/';-
new
.'v/V/'/
.
of
most
with
succeeded
development
further
1
to
Sales
S.
D.
amounting
...
member of the Goodyear—Mexico organ¬
India, where he is to be Secretary-
a
to
the
the
under
ization
include
not
aggregate .net profit and loss deficits to Dec. 31,
$8,734,543 (1942, $10,552,070), of subsidiaries in
which this company holds
directly or indirectly a majority of the out¬
standing capital stock.—V. 159, p. 1862.
/
■
to his previous
addition
Williams, previously
ization,
5..
.out
Other
of
founded
-company
the
an
emphasis upon nationally-branded lines
importance.
It is the practice of the
company
business
aggressively by newspaper advertising and
its
of
years
leased
unimportant.
for
have
methods.
Each
is
class,
promote
other
Total_ 897,758,232 868,570,352
export
Z//;Z':'
:
81,268
85,343,643
64,798,344
balance,,_—107,785,244 116,771,743
sales
goods
113,444
brands
to
400,934
relatively
price
where
81,949,179
—_
are
merchandise
higher
1,108,081
341,243
98,401,468
i
loss- credit
others
The
139,647
surplus—,,
Appropriated- surplus
department for Goodyear —Great Britain and-more recently with
Goodyear—Canada,, has been appointed Manager of the mechincal
to
26,363,046
—
credits,——
-^Profit and
particularly appliances, has however been restricted in recent
by war-time scarcities of merchandise.
Sales in departments
132,896
liability—.—,
—44,651,737
liabilities—2,024,204
Unearned
goods
furnishings
6,237,868
503,442
*
K.
as
101,589
payable————_
payable—,—
current
Unadjusted
•
.
balances, Cr
wages
Other deferred liabilities,—..
the
Division, including India and Burma, and fin addition
including furniture and major household
appliances such
radios, electrical refrigerators, washing machines,
stoves, vacuum
cleaners, and so forth, and many other of the lines
ordinarily carried
in department stores.
The substantial business in home
249,092,150 249,092,150
291,287,690 314,526,313
12,076,179
Unmatured: interest
.
continues
shares),,
par
unpaid
matured
Accrued tax
Other
Kong,
Chamberlain
present Eastern
Will
appointed Manager of the new Par Eastern
over the'territories of China, French Indo¬
Japan, - Manchuria,- Netherlands : East
Eastern Russia, Siam and Straits Settlements. ,'
been
Hong
Philippines,
S.
Dividends
supervision
Guam,
and
accounts
Interest matured
-■
no
—
service
car
accounts
Miscellaneous
the export mechanical goods
former Manager of
Hadley,
department,
1
Audited
& Rubber
(2,498,922V2
debt,—,—
Traffic and
G.
Tire
2081
nishings,
Capital stock
V ",
Overseas Personnel—
& FINANCIAL CHRONICLE
for
all
Greenwood,
charges,
taxes
President,
the first quarter,
services/were 22%
in
and
states:
1943
1942
$98,519
$72,703
reserves.
.
of which represent products for
excess of
those billecjr R>^ the same
75%
period a year ago.
Earnings in the first three months
were not subject to excess profits
except in the case of the Canadian subsidiary.
The directors,
therefore, authorized the transfer of $250,000 to the reserve for con¬
tingencies (compared with $175,000 in the corrsponding three months
a year ago), and making total reserves for such purposes $1,000,000.
Gross earnings, for the balance of the year will be fully subject to
the excess profits tax, and since the net earnings available for transfer
to surplus will be accordingly reduced, it is the present opinion of the
directors that no additional charges should be made against earnings
for the purpose of increasing the reserve for contingencies.
Also, charged against earnings for the first quarter is the amount of
taxes
COMMERCIAL & FINANCIAL
THE
2082'
Monday, May 22, 1944
CHRONICLE
investment
in
which
interest is
this
■tion.
English
Fending
directors
a
to
decided
have
value of
damage insurance recovery provided
decision as to future operation bf
war
and
Government
investment
this
carry
a
of June
'
-
■
*
'
1
i
'
*
____
'
Si.
'
yet been reached.
recent meeting of the directors
as
.
,
.
_____
by the British
the plant,• the
at a nbminal
Renegotiation proceedings covering profits arising from sales to' the
services in the year 1943 are in progress, but no final agreement
At
Sheet/ Dec.A8l,:r; ';
.1943 v
1942 a- .(Excluding, offsetting accounts between-Illinois Central RR., Yazoo & *
Mississippi Valley RR. and :DUnleith;.&>Dubuque Bridge; Co.) , ; i:'
♦Cash
—
AAA $20,132,230. $16,743,345
U. S. Treasury certificates of indebtedness, ;tax AAA/AAA'4
A/A-\ .A:A' a'aA^A'AA ;;.!T943:.:;!f;;v>" 1942
: , 1941
1940'' * lt
1,1
*'
'
* *•"',% ' ' '' l' .I"*' ^ t'
' 'f
•
•' '•''"■ ^ "■ j' ' ' ' ' '■ 1)' ^
notes and savings bondsAj————L—A—A A5,067,890A( 5,497,170.;,
t Receivables
_A—11,-319,680 11,710,528
Operating revenues'-.-. 247,637,580 213,026,422 142,438,326 114,266,410 '
Inventories
7,430,731-.. 5,733,755 A Operating expenses.^. 159,790,230 139,481,368 101,729,066 85,966,279;
'. 43,544,768
26,580,212
13,466,991
10,053,207
Security investments, post-war refunds of --'ex-.vuAAf AA- (b
r- , Taxes
•'•'
Assets—■
■
1,
1944,
it was voted
f Real
:
estate,
Patents
and
Deferred
plants' and
goodwill
charges
A A/
non-current!
.
a-
.
46,964,842
44,302,582
/
.
——
18,246,924 "
27,242,269
;
-
..
"•:.- 1
1,810,979
1,524,156
■
'1,930,335
■
•■;
' '■
—
Sheet, March 31, 1944
Consolidated Balance
other
-
A'■■.A 997,975 N\/' 462,833 / \l■; Railway oper. income.
equipment___—5,929,676A A6,506,532. / Rents from use of joint
'1;:'',*
1
tracks, yards & ter_
120,036
433,222 -> V minal facilities
receivables
.
to redeem by lot as
debenture bonds.
additional $60,000 10-year
an
and
taxes,
profits
cess-
"
war
has
Balance
(Illinois Central System)
Income Account, Years Ended Dec. .31
■
Consolidated
book value of the company's
Textilose Manufacturing' Co., Ltd.
The plant in
held has been bombed, and is not now in opera-
$28,972. representing a mark-down of the
1,463,458.
"
Assets—Cash,
Total
($45,764.26) obligations,.
Canadian
U. S. and
$871,789;
$154,615).
property,
^$2,722,875),
and accounts receivable (less reserve of
$1,408,313;
inventories, $2,595,361; other assets, $530,540;
plant and equipment (less reserve for depreciation of
.$2,903,819; goodwill and patents, $1; deferred charges, $66,090; total,
$10,930,293.
"
AAA' --A * ' :
' V: '., A '';>v; v..
•$2,554,380; notes
commissions,
earned
Operating expenses
Net
'
Net
Net
$557,684
revenue
$204,780
$558,024
188,520
488,102
540,553
;*AA/-AA.A;-::Ai
•
Corp.—Earnings—
Hotel Waldorf-Astoria
Ended March 31—
.
1942
.
operating income
$1,340,570
$1,808,907
AA-A
s;:"■ '
1,442,384
1,145,147
847,094
$2,485,716
$1,835,868
2,260,661
1,829,062
1,514,505
etc.—
$990,630
$656,654
$321,363
etc
Rent, proportionate part earned of
annual basic rent of $1,000,000).
Int. other than int. on the debs.—
Prov.
for add. earn, rental & int.
lbl,068
152,906
149,521
Operating expenses
insurance,
Taxes,
Amortization.
income
Net
*'$99,329
March
Sheet,
Balance
*'$112,423
Inventories
■
84,300
»
6,525
•1,000
9,100
2,500
:
and
rent
Interest
[:
on
559,477
rental
earnings
sales,
gross
tal stock taxes, war
income
taxes....
insurance
held
32,502
taxes....
tax.
69,898
40,179
and credit balances..
Fractional part of interest on the
in
interest
Debenture
real
of
i
154,307
^
501,448
(net)..
withheld
outstanding-..^____Iu__I.
estate
9,138
i
7,090
10,985,000
10,985,000
"
♦Consisting of deficit from operations
Hudson Bay Mining & Smelting
1944
$1 643,683
$0.60
3 Mos. End. Mar. 31—
Per
earnings—
net
♦Est.
share
—....
shards
159, p. 842.
of $366,380.—V.
(par $1)
after deducting capital
Co., Ltd.—Earnings—
1943
$2,086,460
$0.76
1942
$1,662,054
$0.60
1941
$1,662,135
$0.60
deducting all operating costs-, including administration, depre¬
ciation and estimated income taxes, but without provision for depletion.
♦After
—V.
159,
1353'.
p.
' A'
;
'
•
,A
Consolidated
1943
2,007,154
4,760,116
3,558,373
2,428,095
"2,056,726,
rev.*—" 247,637,580 213,026,422 I42;438,326
114,266,410;
Dining
Cost
Of
5
1942
$57,658,544
50,069,581
47,581,854
Gross
Maint. of
Profit
1,721,712
:
.
■"
Provision
♦Investment
was
carried an
fares',
average
for
year and 46.96
Advances
in
future
years
by
Miscellaneous
Provision for
of
of
the
years
11.588
A
and
contracts
Federal
miles,A
miles in
.
terest
of
income
in
and
subsidiary
8,407,383
6,812,613
104,180
104,180
$1,647,354
433,763
profits taxes
minority in¬
cbmpany____
433.762
785!o00
628.000
$1.53
$1.55
System
bonds'of
a
face .value
indebtedness of $27,028,320 to
Corp. was paid during the year.
ment
trust
Q
certificates maturing in
-
income
A
Class
B
_x
preferred
dividends
Discount
Note—Tlie
facilities
____;
dividends__
Earnings per share on
provision
charged
class B______,
for
against
depreciation and amortization of plant
to
in
this statement amounted
income
$780,017 and S77C.184 for the years lS4a and 1942, respectively.
Equipment trust certificates, aggregating $7,992,000, were, paid dur¬
ing the year.
Bond purchases for sinking funds amounted to $374,000
face
value.
funded
on
50,520
49,550
4,235,424
24,612
debt—
23,027
3,029,329
3,046,753
4,192,384
-
prepaid—
'
—
9,398,841
-
.
97,103
,
10,784,542
insurance premiums
debits
unadjusted
Other
:
—
811,437,071 772,475,073
Total; •
■■■Liabilities-4-'-
■•
A, 4;A:A/-A.,'/.;:,. /:/A;:A-!A /'■
A:;,-v
A*'
'A
'
135,799,492 135,799,492
18,645,700 18,645,700
Premium on capital stock———aA_4__—
138,755
" 138,755
Funded debt
305,539,219 342,394,325
.Grants in aid of construction———
3,847,997
2,479,793
Audited accounts and1 wages payable;/.——20,007,990
12,832,970
Common
stock
.Preferred, stock,
series A—.
.
.-Miscellaneous'' accounts- 'payable——^ 736,318
Interest matured"'unpaid-— a—2,218,553
Unmatured interest accrued—
;———
1,991,338
rents
Unmatured
Accrued
tax
.accrued*A-_-,._——A-
liability—
198,231
43,586,482
.Other; current liabilities—-—_1,495,692
Accrued depreciation—road
1,727,163
(Other deferred liabilities——r
2,233,499
Accrued amortization of defense projects——_
8,415,685
depreciation, equipment
unadjusted credits
Accrued
Other
—!
owned
,
;
606,791
1,989,420
2,182,997
516,285
19,046,405
1,555,617
—:
4,908,587
4,684,014
116,447,032 110,098,595
19,551,601 17,047,261
Dr6-,956
15,758
Dr6,346
22,115
10,059,546
Sinking fund reserve
—
4,239,432
Miscellaneous fund reserve
:
* 506,000
Appropriated surplus not specifically invested— ■/;
36,706
Profit" and loSs_89,354,884
11,468,987
Maintenance
funded
A.—/A-
reserve
Premium
on
Additions to property
debt
through income and surp.
Difference between par
company
Total
♦Does
506*000
40,074
56,684,065
and face value of inter-
items (see note)_——■
—
24,650,953
24,650,953
811,437,071 772,475,073
—
not
4,184,218
include Alabama & Vicksburg Ry.
and Vicksburg Shreve-
port <fe Pacific Ry,
.
1944.
debt,
127,502
i._:——
—
—•
assets—-—
12,833,011
10,324
96,109
•
the Reconstruction Fi¬
the
funded
10,702,776
Working fund advances
deferred assets
Rents and
equipment contracts, aggregating $2,632,144, heretofore shown
balance sheet under deferred liabilities,, were transferred to
in accordance with an order of- the-Interstate Com- ' merce
Commission effective Jan. 1, 1943.
Of the amount so trans¬
ferred, $2,245,930 was paid during the current year.
on
7,760,713
14,553,508
dividends, receivable--—
Other
-
Prior
Net
.Class
3,779,131
receivable—————
supplies———
and
current
/Other
21,267
1,075,369
3,825,547
accounts
Miscellaneous
Interest- and
'
;
agents & conductors
Net balance receiv. from
Materials
28.538
>t:
1,072,933
car-service
and
27,026,480
39,997,596
balances receivable-
-
\
the prin¬
maturing
equipment
retirement
of
obligations to the Reconstruction Finance Corp.. for exercisihg
company's option to purchase equipment from the General American
Transportation Corp. and for the .redemption of outstanding equip-
1,218
11,140,449:
3,388,44.9
'/AA
8,300,735
receivable.4
bills
and
Loans
of $16,847,000 were pur¬
,/
funds
Sinking
Traffic
of $36,855,106 was effected in
$9,549,840 and cancelled'.
53,863
3,852,478/
3,781,469
A;;"A
2,433
and advances—A--——-A
24,572,996
reduction of
saving of approximately $2,769,000.
7,171,435
11,070,309
11,040,661
deposits.
Temporary cash investments—i./.
Equipment trust certificates, series W, were issued in
cipal amount of $15,000,000, bearing 2 Via %
iirterest and
serially to. Sept, U 1951,. A lien Was placed on existing
f! for this trust.
The proceeds were used in part for the
and
to
reduction
Unpaid
nance
'»
$1,631,847
excess
applicable
Av 623,836
Special
funded debt outstanding with the
the debt reduction program.
During
at a cost of
chased
.
income
Canadian
Portion
interest
1943,
In
Debt—A net
3,724,802'
5,126,360
/^A-AaaA
30,775
public, in the
the past three
funded debt has been reduced by $59,537,786 with an
amount
annual
estimated'renegotiation refund on
production
war
in
Reduction
A
3,570,732
property—
—
notes
Bonds,
/
''A''.
effective
1942
,
•Investments in other companies
;
"' ''"A
were, the largest
yearr
■1"!'( !■_•''!
"v
s
663,630,783 659,853,104
■;;■ A. $
and -notes—i
;V ■ Bonds
^A'./
the
28,300,13lA
40,709,260
Dec. 31-
5,126,360
"'■■•
'A
continuation
other post-war
Interest
Sheet,
Balance
arf ilia ted-: companies:
in
Investments
distance of 187.81
.
Interest—The. economy
-the
54,353
1,012
and
13,545,053
87,847,350
General
physical
.Miscellaneous
outstanding funded debt is reflected- in the decrease of
$1,345,826 in interest over the previohs year, and is further empha/. sized
by a decrease of $3,701,786 compared with 1927/the year in
which the maximum amount of interest was paid by the company.
305.597
443,545
rehabilitation
for
contingencies
oper!
53,732
85,966,278
,
A >!■■■:/ AAA'A-AA/' A"-A;A;'A:-'AA"
in road and equipment
Jl—
A
Assets—
;
'■ '
' ;A,^A'!;/r;AiA'','!:'''A:;'
acted as agent for the U. S.",Government in collecting
taxes
during the year,
aggregating $13,629,299,
representing transportation tax on property, and persons, pension tax,
-current income tax and the Victpry tax.
\A ■ >T /
$8,935,685
509,403
income
Gross
!'■ '
63,492
139,481,368 101,729,066
1943
withholding
The
•
1,612,347
4,890,164
■
Total fy. oper. exps.-- 159,790,230
Net rev. from ry.
Company has
and
135.765
$11,097,370
operations..
$8,799,921
225,238
from
income
t
15,394,788 ' 12,494,864
29,354,199 23,545,610
2,920,573
2,797,155
48,952,052 42,532,851
913,831
733,829'
4,257,115
3,915,701
28,820,890
39,800,408
3,040,084
61,317,476
_
revenue' per
average
taxes.
1,276,769
$10,872,133
general- expenses.
1
& struct.
36,048,000
equipment—43,197,397
Traffic
3,023,799
Transport., rail line.—,
69,473,608
Miseell. operations—_
2,238,101
General
5,809,324
Transp; for invest. (Cr)
A :
way
of
Maint.
tional
$12,593,843 $10,076,690
profit
and
oper.
Ry. Oper. Expenses—
V
Unemployment and retirement taxes increased as a result of addiemployment, higher wages and an increase of V\. of 1% in
the
retirement tax rate.
A change in the method of „ assessment
of Illinois taxes accounted for larger State
and county ad valorem
'
other operating revenue...... $62,663,424
sales
Selling
Other
and
hotel,
revenue
Total rj.
_
sales
Gross
buffet,
&
etc.,
♦
company's
Statement, Years Ended Dec. 31
Income
2,249,033
Suburban passenger revenue increased 28.60%, orA$966,549.60, the
of passengers increased 15.72%
and the average- revenue of
1.363
cents per passenger-mile
increased 6.65% over the. previous
year.
There wer^ no changes in passenger rates except in certain
.
Houdaille-Hershey Corp. (& Subs.)—Earnings—
s
236,726
2,349,050
$43,544,768,
in the
history of company, and . exceeded
those, of the previous year by:
$16,964,556,
or
63.82% .
Federal income and - excess profits taxes
accounted for $15,209,000 of this increase.
For the first time since
World War I, company will be required to pay excess profits taxes.
Provision
for
the payment of Federal
income and excess profits
taxes has been made by investments in U. 3. Government securities.
2,896
$12,528,019 $13,565,494
Total
passenger
Taxes—Taxes
.
Equipment reserves
5% sinking fund income debentures..^...—^
A
580,880
—
an
.commutation
13,304
disposition
-142,546
239,540
4
-•
22,684
2,350,654
1,930,613
112,021
• 206,605
1,710,759
train-
-'number
53,712
1933,
for 'years
taxes
awaiting
1936;
1934,
rent
due-bills
Advertising
/year
1,060,163
1943
deferred
on
Refund
with
8,335
deferred
Interest
2,571,733
Switching
passenger-mile was 2.050 cents, compared
2,012 cents in the previous year ^nd 3.503 cents in the peak
of 1923. A'A/-' "'"'V'--.;';A''
V'^
■ !'■"'A A:''A;.A/''
The
debentures
over
2,940,780
Other passenger
A
compared" with 175.85 miles in the previous
1918, -during World War I<-;--;;! A.A
46,457
68,183
accrued
Rent
•
expenses
retirement
Deposits
2,958,019
—_____________
24,333
2,714,109
1,916,628
r 118,797195,623
34,573
2,709,634
62,021
•Milk
$14,874,843.
Each
25,040
16,048
Sundry
carried
>:
20,433
Federal
.
43,248
49,564
*.
■
from through passenger service increased 81.48%,
The .number of passengers carried one mile was
increase over the prior year of .78.08%, and ex¬
ceeding by 64,573,642 the total for the five depression years, 19311935.
The'movement of the armed forces in, active -military service
and on furlough accounted- for a substantia] part of the/ increase,
i
receipts, utility and capi¬
bond subscrip. and with¬
Unemployment
the war.
1.615,900,915,
237,225
the debentures..:
Cabaret,
634,101,103;
786,984,207
■Passenger revenue
or
int.
and
2,000,549,610 > 1,242,019,560
Express
East
the
5.23%, over last -year.
137,313
debentures-—;
the
additional
"
for
Co',
1,174,130
10,426,009
/
Parlor and chair car-
,
■t'.'rAA 'A\':T
Revenue' net ton-miles1 were 24,641,062,223
and exceeded the com¬
bined total of the three depression years,
1932 to 1934.
Each ton
was transported
an average distance of. 306.54 miles, an increase of
$313,011
303,412
Terminal
&
taxes
on
for
Prov.
$351,128
Realty
State
Y.
N.
•
full operation, the large volume of petroleum slwpments
Coast and the increased industrial demand; for coal
in
placed
to
'•■r
..payable
■■Accounts
Due
'
"
•
*
w^re-
570,465
3,455,301
$12,528,019 $13,565,494
'A V;',
-
tremendous
this
caused, by
Liabilities—
1762.
p.
ryear,
.'100
524;539
2,871,212
of capital
159,
Freight revenue increased 9.15%, or $16,376,234,'over the previous
notwithstanding a decrease in the average revenue' per tonmile
of
6.014
cent. :
Tons
Of revenue ■ freight handled " increased
5.56%.
Contributing factors ,to the increase in revenue were the
.movement of military supplies' as various Government plants
9,100
2,500
!
charges
deficiency
♦Net
2,002,176
383,608
24,980,733 A 24,773,391
surplus
Aver. rev. per
volume of traffic constitute an outstanding, eontribution to the war effort.
'•
vA/-;
-';;'>:!A:>?'
!;-'■
The
total railway operating revenues were $247,637,579,
exceeding
the record-breaking year of 1942 by $34,611,157,. or 16.25%.
of
•
8,262,071
1,000-
dividends.^...
Fair debentures
World's
York
New
-
466,652
418,950
6,981
,
insurance
Deferred
1943
590,306
83,949
.1
of leasehold
Trade
advertising contracts
Invest, in stock of affil. corps
Invest, in stock of other corps
Net book value
^
a
RR.—Annual Report—John L. Beven,
President, states in part;
^ ;
Company in 1943 established a new all-time record for both freight
and passenger traffic.
New efficiency records achieved in the handling
$117,175
7,595,940
Prepayments-
Estimated
1944
728,959
'
(net)
receivable
"
charges
J;
20,803
744,159'
-
.
Illinois Central
$284,889
Accounts
roadse..-
car'd 1 mi.
Texas—Accumulated Dividend—
12 declared
A:
81
:
May
on
of Subsidiary Elected—
Earl A, Tanner, President of Milcor Steel/Co.; Milwaukee, Wis., a
subsidiary, has also been fleeted President of!. Inland Steel .Container
Co., another subsidiary.—V. 159, p. 1973. '
.
99,166
99,329
' $184,333
r);.;'
"Assets— .;
A
•
Inland Steel Co.—Pres.
♦Loss.
•
A Balance,
Mail
13,257
237,225
303,681
91,548
—_
Miscellaneous:
.
14,549,177
(
21,033
1,070,432
13,203,351
rents^iu1-'
for leased
Rent
debt
funded
on
Miscellaneous
—
876,101'
26,842,672
17,741,562
15,046,053
14,837,673
20,782
20,940 "
-584,579 :1,234,124
765,249j
474,680
.
share.—V.
171.841
16,523
—
Interest
.
42,416,210
39,332,653
income
.
■
250,000
250,000
—1:.
debentures
the
on
„
ins.,
taxes,
for
avail,
Inc.
Total
16,865,461}
V;,.'
^
pass, mile1.918C
*
1.8140
1.604^ "
.
" 1.576(h.
dividend "of 3% (75 cents-per
share) for the six months ending June 30, 1944, and a dividend of,$1
///■:/A'- :!;''''v;A.AA, Income Statement for Calendar Years
'per share on account of accumulations on the 6% cumulative preferred
1943
1942
1
1941
' 1940
■stock, par $25, both payable June 30 to holders of record June 16.;;
;
'"■$ -r'
''J '' JA•''$!' v- -vA V:Aa A
' '3'Av '• *•'
A Ry. Oper. Revenues-— 'A
Payments last year were as follows:
June 30, 75 cents, and Dec. 21-,
195,345,537 178,969,303 120,471,429
95,915,992
Freight
75 Cents, plus $1 cn account of accruals-. ,A" A:A:^'^A:A-'"
38,373,089
22,531,696 " 12,542,496
9,943,008'
After the payment of the dividends ju.st declared. the accumulated ? Passenger
Excess baggage
A/
28,547
22,805
'
19,861
17,340
and unpaid dividends on the preferred stock will amount to $4.50 per
directors
The
$3,251,291
_
830,259
'
Houston Oil Co.—of
$988,774
A A AA/AA "/A.
sales & oth. oper. inc.
gross
26,012,414
1,408,289
.
,
of food/ beverages and
sales
cigars (less disc., ret. & allow—.
income
(less allow.)
from
rents & hotel services and other
41,007,920
r; 1,071,697
•
1943
1944
Gross
Total
$55,294
$69,922
$16,260
3 Mos.
Gross
i
.
_
$25,212
portation oper.
-.
$595,748
171,866
—
38,260,956
'J 1,209.321'
1,243,009
■
1973.
—v. 159. p.
1,809,915
v
,
General Traffic Statistics fom Years Ended Dec. 31
Ai
> 9,271,081
Average m'les <! ' - '
1943 • ;A" '• 1942*
' A A '-A -1941 •
1940 .»
§Capital stock (no par)
;JAAi:A/9,271,081
1.358.203
/■•: -operated.-- A: ' h -A / 6;338
6,433iv.. A! 6,517 : : •"!6,546 f
Capital surplus
——A-j/lAAiAAA.;:;;; 1,358,203.
Tons : freight: /' /p-. ■'•.' > ■■
3,103,351
1% - VAv 'A-'AV?-''' ■'
A' PC; '■
■. -»
Earned
surplus
_
' 3,437,998
carried—
A" 80,383,319 " =• 76,149,545
56,999,930
44,923,860
Tons rev. fr't
.."/."A/
■:''/v
. A,
Total
$50,998,220 $47,087,386
car d 1 mi. 24,641,062,223 22,182,444,688
14,225,924,549 10,924,403,823
♦Including cash advanced and restricted for use under contracts
.Tons all fr!t'■■■:
'■■'■■■■-WJ-n /■'
' ■,>
.h-'--.
with the U. S. Government, $943,674 in 1943 -and - $3,f45;632 in 1942. 4
A! car'd 1 mi. 26,594,110,000 23,895,015,000 15,704,402,000 12,352,721,000
tAfter deducting reserve for losses of $7,430,73.1 ;.:in
1943 and $5,:Aver. rev. per / a: Avv ^A'A'-A-A'
AA'; A;,.
A
: ■
773,555 in 1942'. A' f After - deducting reserve - : for ■ depreciation and
ton, 1 mile
• A:
'.793d
" '.807(5
A"
.'8470 '
' r .878(1,»
amortization of $7,837,566 in 1943 and $7,397)798, in T942A ■ SRepre'■Revenue pass.■'••;,A;.'
/■■-."'/■ A1 -'A.'.
..■■'■w;"-1 ;■•
'■ ■ ■■:*;
sented by 173,500 shares of- class A convertible preferred stock and
carried
48,466,037
39,605,808 ' " A 33,181,137 ' A 31,146,427 785,000 shares of class B stock.—V. 158, p. 2469. '
^
•
■
' "
Revenue pass.
2,661
——_____—
v.-"
1,801,159
Other ihcome
.
$593,187
340
$197,078
from oper._
revs,
Deductions
1,635,600
—
$203,769
1,011
•
'•v
,
$1,293,848
700,660
299
.$196,779
trans.
.Revs., other than
249,536
329,655
•
—
from transp.
rev.
$1,493,947
936,263
$453,305
$526,434
transp.
from
rev.
Accrued
19,710,382
1,511,002
Net income from trans-
8,835,673 .6,898.385
1,792,108
A 2,124,278
Reserve
other post-war
: /. J
contingencies,
——i
-A—wiALA- *
815,000 .',•305,597
123,938
Miscellaneous
operating reserves/—J.;232,963
Minority interest in Muskegon Motor Specialr /'AAAA■A
436.123
ties Co. (52,090 no par sham).:_ AA_ A^-A A" .439*758
profits taxes
payrolls, rentals,: etc'.
for rehabilitation and
excess
1944—Month—1943
Match-
Period End.
Gross
eral
>
28,766,425
•'•"}
minal facilities_^
7,506,320
contracts ; A-A.i-A,i AAuAAAAAa2,772.500
refund on war produc-•aAAAA;A
eontracts for the current year and Fed-:' A:AA'AA A,v
and Dominion of Canada income andAA,-. AA/A-'
tion
A
Ltd.—EarningsMos.—1943
1944—3
Rapid Transit Co.,
Honolulu
6,170,801
'
Estimated renegotiation
at Dec. 31, 1936, $1,145,137;
1, 1937, $555,411; total, $10,AA/.A
'fjf AA!-
$1,500,000; unclassified balance
surplus accumulated since Jan.
930,293.—V. 158, p. 2362. ..
A/'
$25),
371,599
'48,775,821
5,957,986
46,232,917 '
:
Government on war ma-
production
$1,815,497; 5% 10-year registered debenture bonds, due Dec, 1,
1946, $343,600; reserve for contingencies, $1,000,000; 5%
cumulative
first preferred stock, series B (par $25),* $3,487,000; common stock (par
■
U. S.
from
Total
;Hire of equip., deb. bal.
Rents for .use
of joint
tracks, yards & ter¬
3,916,581
rt;:
•;
'mated),
4
S.
teriai and facility contracts__A-^A,-A—AAA: 3^250,000'
•Due tJ.- S. Government on renegotiation of war ;: r •
.
payrolls and
income! esti-
Liabilities—Accounts payable, $683,234; accrued taxes,
$400,414; Federal and Canadian taxes, on
V
U.
Advances
■
A
; A'A"
'payable.;—A—..—AA: '4,943,725.
Government—_Ii_—__—_—.AA—AA 1,467,042
Accounts
■•Due
$50,998,220. $47,087,386
V?'A'A'/V 'AAAA-A'
-A—-—A-Aa $12,000,000 $12,000,000
.__A----—
—
.'.Liabilities---1
Notes
payable
this
Note—As
inter-company
companies are ex¬
value of-'such items
the subsidiaries and the amount at which
carried by the owning companies is entered
consolidated
balance
sheet
excludes
items, securities and accounts among the system
cluded.
The difference between the par and face
as
carried
on
the books of
the securities and items are
here
to balance.—V.
Indiana
159, p.
1863.
Hydro-Electric Power Co.—Merger—
Indiana Public Service Co.—V. 159, p. 1658.
See Northern
Volume 159
Industrial
•
Number 4283
THE COMMERCIAL & FINANCIAL CHRONICLE
Corpi-r-Preferred
Rayon
Kuhn, Loeb & Co.
Stock
for*; post-war: business
Offered—
material
Harriman Ripley & Co., Inc.,*
syndicate of underwriters which made public
offering May 17 of a new issue of 100,000 shares of $4.50
preferred stock, series A (no par)i;: Other principal un¬
derwriters are Blyth & Co., Inc., Goldman, Sachs & Co.,
headed
and
and Lehman Brothers..
The
*
'
a
$4.50
—
-
Jr.,
preferred stock, series A, will be redeemable
field
extension,
school
and
particularly
instruction
the
in
Representative of
the
headquarters in Los Angeles.
post-war
planning
30
,
part,
election
at
corporation
of
not
upon
less
group of five
Until June 30,
U.
S.< Treasury
Department on payroll savings.
Mr. Dickson was
Manager of the electric accounting machine division in San
Diego, Cal,
—V. 159, p..1763...;
Y
>
days' notice, at $104 a share to. and including May 15, 1954, and
May 15, 1954, at $102 a share, plus accrued dividends to the
of redemption. - ; •' : vv
••/'/». (•;/
'-V-.
a"'.//.'
A
in
or
Interstate Department Stores, Inc.—Annual
Report
( During the fiscal,year, the company sold, at
paty $3,000,000
sinking fund debentures, due Nov. 1, 1958, to The Equitable Life As¬
surance
Society of the United States.
At the same time that l
the
debentures were sold, the company entered into an agreement
-with a
.
department,
•
/v
,
^
whole
of
j
-
Walter Dickson^
f IVTr. 'KennOy "was'.'Manager of the electric writing machine division
office; in Newark, N. J., as well as a Special Representative of the,
at any time,
in
development
purposes.
also announced the appointment of J.
Special
as
with
v
,
for
The company
than
;
International Industries, Inc.—Votes Name
Change—
The* stockholders
.
Preferred stock will be entitled to
2 Va %
(commencing
annum
per
number of
shares
which
at
sinking fund sufficient to retire
a
with
the
time
any
1945)
year
theretofore
of
the
shall have
of
name
'
>•
R,
r,.
largest v'.j
been
to
out¬
this
D.
May
on
approved
15
to Argus,
company
Inc.
proposal
a
See V.
the
confusion
that
resulted
change
1763.
159, p.
Hawse,'- President, stated that the change in
eliminate
to
between
name
the
sale
the
of
redemption.
Dividends
cumulative
frcm
March
•'candid'1
31,
1944;
June 30, Sept. 30, Dect. 31, and March 31.
payable quarterly on
are
Listing—Corporation has
list
agreed
to
make
application
in. due
"miniature"
camera.'■; Y.-;Y"Y,
the
course
textile
of
the
yarn
manufacture
and
sale
of
fabric
rayon
jtire
yarn is processed by
the corporation
and sold to tire manufacturers for
use, at
nection with the war production
knitted
from
rayon
"into
tire
cord
and
International Match Realization
.7
The
fabric
has received notice that
company
the
to
suit
things, in lining, dress and underwear fabrics, and
furnishings such as draperies and bedspreads/ A some#
in connection with the
company
smaller
part is
sold
against
for
outerwear
177,460
15,244
13,600
$4,244,697
91,832
$3,563,434
$2,055,398
11,680
Dr36,552
$4,336,529
$3,575,114
$2,018,846
cotton
spinners.'
,
materials
raw
used
by
the
V
the
sale
its
of
Turkish
assets
-
.
its business
bleached sulphite wood pulp, caustic soda, carbon bisulphide,
sulphuric acid, zinc sulphate and oils and other
specialty products, all ■!
of which are purchased by the
corporation from others. /y YYy:*!-v./>/■-;'!:
of
3,
1944,
amount
The
program.
which
issued
were
of $2,400,000
retirement
of
to
retire
notes of
that he
par),
(shares)
(no
•Corporation
has
Underwriters—The
shares
of
of
names
of
stock
the
which
shares
of
principal
each
has
Oct,
on
.V':v/y--';;
stock
underwriters
(non¬
Cash
U;
Paine,
Blyth
&
Co., Inc._
Goldman, Sachs &
and
^
Lehman
Smith,
A.
Brothers
E.
Co.____
5,000
A.
5,000
Central
_______
Barney & Co
Becker & Co.,
G.
Peabody &
Lee Higginson &
Inc._
Stone
Inc.
•
taxes..
I
franchise
Eastman, Dillon & Co
!
Lynch,
&
ner
&
Wreeks
1_.^
Leaseholds
Marks &
Co.__
79,013,916
Curtiss, House & Co
1,000
Fahey, Clark & Co.—1!
1,000
Field. Richards & Co.———
•Property
7,289,084
for
1.
special
$0.44
$0.52
amortization
of
held
against retirem't system
Cleveland'Corp.— 1,000
Maynard H. Murch & Co.— 1,000
to
of
future
Inventories
at
profits
market,
or
whichever
1863.
receivable,
Government
less
securities
at
Short-term-securities
Interchcmical Corp.—Earnings—
and
tax
below
'or
2,840,000
(not
preferred
Sales
Cost,
1943
1942
1941
\
V
discount
$7,191,374
and
exps.
deprec.
$7,179,838
$8,237,576
16,474,135
'
6,639,902
7,415,939
6,579,985
$440,122
$539,936
26,041
$821,636
7%
$476,912
cumulative
Common
Operating
profit
income
(net)
32,100
—
28,868
stock
Accounts
•
Other
Taxes
21,390
X
•Special
,
Net
—
provision
profit
Shares
per
.
______
—
$565,977
1325,000
stock—
share——
,,
$0.49
50,000
$296,302
290,320
290,320.
290,320
$0.49
$0.56
anticipated increases in Federal income and
tlncludes
1943,
Federal
income
Federal
and
excess
taxes
of
profits-
$160,000
taxes
in
(after
to.
on
10 issued a certificate permitting abandonment
Kirk and by the
Jacksonville, Gainesville & Gulf
railroad extending generally southward from Gaines¬
Van
of
insurance, and
J.
Babb
has
will
totaled $97,731, while
amounted to $116,488.
Total
See
;:M\
and
the
Liabilities—Accounts payable (trade),
$938,717; accrued interest pay¬
deposits, $29,161; accrued payrolls and com¬
missions, $294,385; accrued taxes, $157,968; other current liabilities,
$315,309; sinking fund requirements in respect of 3*/2% sinking fund
debenture, $200,000;
sinking fund debenture due Sept. 1, 1949
(less
$4,52i;
amount
within
year
16,297,991
•
International Business Machines Corp.—Promotions—
The
corporation on May 17 announced the appointment of John J.
Kenney as Manager of the newly created post-war planning depart¬
ment.
He will supervise the integration and extension of IBM plans
Vice-President,
it
was
Manager
of
Booth
Fisheries
Corp.
in
on July 15
all of the $11,592,000
outstanding first
bonds, series A, due Jan. 15, 1962, issued
Liability for payment of these bonds was
Laughlin Steel Corp. when it purchased the
interest
Steel
Jones
most
Co.
&
assets
of Otis
Steel Co.
on
June
30,
1942.—V.
1764.
159,
have
bonds
been
due
called
for
Feb.
Keystone Steel & Wire Co.—30-Cent Dividend—
The
directors on May 16 declared a dividend of 30 cents
per share
the capital stock, no par
value, payable June 15 to holders of record
May 31. A similar distribution was made on March
15, last.
Payments
in 1943 were as follows:
March 15, June 15 and Sept.
15, 25 cents
each; and Dec. 15, 30 cents.—V. 159, p. 1659.
290,794,723 290,064,791
Inc.,
above.—V.
159,
p.
reserves:
*:■ (G.) Krueger Brewing Co. (& Subs.)—EarningsYears Ended Jan. 31—
1974.
Income
was
.
Batten,
Minneapolis Office
Investors
Syndicate,
Mutual,
Inc.,
V.
p.
159,
Barton,"- Durstine
&
Osborn,
Inc.
and
of
Net
the
Investors
Investors
will handle the account for
of America, Inc., Investors
Title
and
Guaranty Co.—
agency
Syndicate
Syndicate
Other
income
Provision
Central
Railway- -Deposit
3,022,884
$3,018,203
$2,468,336
$2,241,637
2,192,763
1,832,187
$275,573
$409,450
49,026
38,093
$324,599
$447,543
9,623
52,378
income
Total
1864.
1942
$5,264,521
3,506,339
40,671
operating income___
1943
$5,974,674
$630,811
sold_.
expenses
Interest
Iowa
1944
$7,071,592
4,053,389
sales
products
Gross profit
Selling, delivery and administrative
as
on
Advertising
The
"of
for Investors Syndicate and subsidiary companies
May 15 by James S. Lane, Assistant Vice-President
Manager of Investors. Syndicate.
agency
announced
and
,/
2,387,393
from
of
Syndicate—Advertising Agents Appointed—
The. appointment
for
on
$671,482
doubtful
bank
accounts
loans
10,949
Sundry deductions
Agreement Termin-
J
•
14,435
10,626
-
6,575
2.491
$297,776
$392,674
140,000
145,043
ated—•
■
The
protective
bonds,
Dec.
•
Over
committee
due. June
11,
1924,
75%
of
1,
1938,'
for
the
the
committee's
15,
mortgage 5%
its
deposit
Certificates of deposit still
for
50-year
agreement
Federal
Thereafter
St.
Louis
be
such
Ry.
Co.
normal
excess
State
of
deposit have been ex¬
outstanding should be exchanged
income
Provision
Net
-
may
$646,098
for
tax
and
profits
surtax___
tax
-
15,000
263,000
52,000
*
tax
122
contingencies
770
25,000
stock
the
Exchanges
profit
Federal
of The Minneapolis & St. Louis Ry. Co. so
holders thereof may be in a position to receive
dividends
which may be declared and to exercise the other
rights of stockholders.
that
Net
Revaluation of assets of, subsidiaries
gold
dated
1939.
certificates
changed.
the
first
terminated
amended to May
as
promptly
.
Executive
May 17 announced that it will redeem
on
accrued
by
gage
under
sinking fund requirements
included
in
.current
liabilities
of
$200,000),
$1,350,000;
reserves,
$899,597;
6%
cumulative
preferred shares
(par $100),
$6,515,400;
common
shares (292,020 no par shares), <$2,920,200; capital surplus,
$1,524,606;
earned
surplus,
$3,505,566;
total, $18,655,431.—V.
159,
p. 1447.
cne
Burco,
advertising
customers'
due
12,817,201
deducting depreciation, amortization and depletion
1943, $105,002,251.—V. 159, p. 1863.
•/ Investors
;
able,
elected
supervise post-war planning for this
company,
manufacturers of household
and
industrial wax
and
•Cost
;
Assets—Cast, $2,748,393; U". S. Treasury certificates and tax notes,
$930,769; accounts and notes receivable (less reserve of $203,093),
$2,745,599;
inventories, $5,011,363;
investments -and other
assets,
$1,768,335; land, buildings,-machinery and equipment, etc. (less re¬
serves for depreciation of $4,197,78G), $4,854,044;
goodwill, $1; deferred
Charges, $596,927;' total, $18,655,431.
\ \
'
.
been
redemption as of May 18, 1944, out of
a total of $80,000 of 4,/2%
sinking fund mort¬
1, 1955, at .102 and fhterest.
Payment will be
made at the City National Bank &
Trust Co.,
trustee, 208 South
La Salle Street,
Chicago, 111.—V. 159, p. 110.
483,474
Investment Co. of America—Proposed Consolidation—
31, 1944, dividends on the
on the common stock
Consolidated Balance Sheet, March 31, 1944
„
."
...
•After
'
i
counties,
Kentucky Utilities Co.—Bonds Called—
1944, $108,201,753;
dividends
..
Marion
sinking fund moneys,
$0.68
1944 and $145,000 in
deducting $3,70(1 in
y
and
also
corporation
There
7,556,712
18,383,476
12,821,756
reserves......
Alachua
May 18 by H. F. Johnson, Jr., President.
Otis
60,766,771
16,971,760
483,475
15,608,951
;
other
in
on
.y
Note—For the three months ended March
reserve...
miles,
|
Babb
on
business
property expenditures in Finland
6,723,908
6,723,908
Capital surplus __._!
60,606,500
60,606,500
Earned surplus
81,859,044
81,262,475
Exchange adjustments in consol. in suspense Dr2.461,542 Dr2,461,542
1944 and $20,000 in 1943 for post-war refund and $4,300 in 1944 for
credit for debt retirement) of $72,000 in 1944 and $180,000 in 1943.
preferred stock
60,766,771
1944
36
27,627,825
9,786,275
1,
1974.
& Gulf Ry.—Abandonment—
-
27,627,825
par)..
shares.—V. 159, p.
par
May
M.
line
Einathla, about
157, p. 165.
104
by
for
profits taxes,
excess
no
par)..
,
payable May
system
Reserve
■
•For
dividend
Contingent,
152,000
$260,505
$240,977
shares,
$5
payable and payrolls
on
income..
.-
Retirement
$498,302
440,000
150,000
292,020
-
$850,505
,
$240,223
—
common
Earnings
$472,223
1232,000
——
Federal taxes
(4,584,025
($100 and
based
Preferred
V Profit
pfd. stock
...
no
mortgage sinking fund 4»/2%
P.
■
———.—
$11,869,424 $12,369,244
a
The
at
24,578,023
■
35 500
-
2,07l',588
1,915,949
t-'
.
290,794,723 290,064,791
.
1,544*752
2,096,329
_
Jones & Laughlin Steel Corp.—To Call
Bonds—
25,413,612
Liabilities—-
$7,056,897
6,751,252
...
1,914,400
2,815,653
Chicago since 1941, Mr. Babb was formerly a special partner in the
of Booz, Fry, Allen and
Hamilton, Management Engineers.
'
14,094,385
36,760,240
^-m
$100)
firm
,
7,734,064
*
...
_—
(par
1,580,252
one
of the
largest
products.
Vice-President and- General
205,783
22,575,533
Total
allowances'
after
and
1944
agy
11,250
stock
announced
42,798,709
Cash
(Including Wholly Owned Subsidiary Companies)
Quarter End. Mar. 31-—
stock
surplus
assumed
:
current)__/
of fixtures:
replacement
ICC
of
Mr.
'
215,623
(S. C.) Johnson & Son, Inc., Racine, Wis.—New Offi¬
(including Treasury bills-
notes)
319,366
;
sinking fund deb., due Nov. 1, 1958—
Fla.—V.
900,000
;:r/-"V;'vV
cost
local
78,719
The
J
.41,807,597
17.866,654
/
reserves
<
33,590
landlord
by Russell
617,829
is
lower
Accounts
and
Jacksonville, Gainesville
31,'44 Dec. 31,'43
900,000
(est.)
$1,266,794
471,514
2,628,719
597,840
32,075
Jervis
267,081
taxes
operations...^
cost
$160,000
1,569,745
profits taxes.-
preferred
on
•Represented by 301,846
146,677,662 148,686,110
15,592,000
16,296,205
reserve
expenses
income and excess
cial Named—
613,892
excess
'
(trade creditors)
and
cumulative
ville
361,479
>
38,544
•
expansion
t
securities
portion
Charges
1,000
The First
Mar.
Z.
"f-.
declared
/',
$0.52
war-time
:j,.K /
Refund,
501,690
Appropriated surplus
Capital surplus__
$79,397,502 $79,066,645 $76,851,781
share.:
252,490
992,684
116,501
102,131
stock—_______
Earned
■
97,844
6,054,002
920,070
—i
—
•'
$11,869,424 $12,369,244
•Common
7,289,084
300,439
1,197,206
167,472
5,730,694
637,176
accts.)
(net)
salaries
for
33A%
$81,859,044 $81,528,187 $79,313,323
2,461,542
2,461,542
2,461,542
*1
Miscellaneous
doubtful
—
to
Res.
483,475
5,831,267
(net)
Securities
195,597
and
Total
483,475
•
2.000
_—
1943
$2,996,599
\
?v!
867,885
vendors
sinking fund payment, due Oct. 31, 1944_
Due
$8,071,966
81,225,508
•;/
'
for
reserve
taxes; other Fed. State
Sundry other liabilities
$14,242,903 $14,814,509
6,167,665
6,742,543
$8,075,238
$204,622
tlncludes
31
indebtedness,
Accrued
Interim Consolidated Balance Sheet
Assets
(less
Accrued Fed.
26,157
81^62,475
241,477
and
$2,746,705
of
inventories*-!--—_!L
Liabilities— ./!
-(
Deb.
673,778
483,475
provision
1944
Balance Sheet, Jan.
banks__
certificates
Accounts payable
expenditures.
program
2,000
Co._________ 1,000
&
/Total
$88,173,786 $89,300,746 $87,085,882
common
in
Deferred charges.
/'.vV/V
—$6,911,311
beginning^ period
__i
per
tlncludes
2,500
___________
277,857
5,591,062
surplus end of period
in consol. in suspense..
Balance
2,000
Co
Coons
adj.
Earnings
i._L_ 2,000
Ball.
Pierce, Fen-
Beane
Republic Co._
Laurence M.
2,500
'
143,549
301,846
$295,500
assets
Fixed assets
Ry.
Hawley, Shepard & Co,—.: 2,000
McDonald-Coolidge & Co.__ 2,000
Merrill, Turben '& Co.— 2,000
Hemphill, Noyps & Co.—___ 2,500
—V. 159, p.
Exch.
3,500
3,000
_
37.6601
$12,502,372
taxes
dividends
Earned
&
Sons, Inc.- 2,500
C. Allyn & Co., Inc.—— 2,000
The Wisconsin
__
Other
&
3,500
___
____
Union Securities Corp
Hayden, Stone & Co.l
Merrill
Jackson
2,500
Rollins
3,500
3,500
others, net
Merchandise
per
payments
currency)
800,634
;
dividends
Common
of
series E, and accrued interest
Accounts receivable (customers) (net).
Due from
insurance
$18,496,848 $18,753,115'
3,175,454
13,238,671
3,199,502
surpill^
Preferred
137,141
305,396
credit
(
(& Subs.)—
069,027
income &
surplus
/ Total;
the
3,500
Co.;___ 3,500
& Webster and
Blodget,
H.
Hornblower
5,000
Hayden, Miller & Co
Kidder,
Webber,
6,500
first
—
1137,309
in
and
Treasury
Dividends
system
,Net 'profit
Shares
Curtis
__
the
$1,117,655
1944
hand
on
S.
$16,608,561
L
—
before
for
Earned
to purchase are as
*.
Kuhn. Loeb & Co.__
10,000
Harriman Ripley & Co., Inc.10,000
cents
$1,124,873
dividends
Consolidated
Accrued
759,325
preferred
agreed
*
.
1943,
1,
of United States
.
Shares
30
520,000
380,000
Assets—
7%
follows:
/,,
of
515,000
*1,935,000
dividends.
deducting post-war
11944
:V
1943
1942
$16,387,076 $18,296,993 $18,499,995
221,485
199,855
253,120
Contingencies, insurance, etc
Prov.
380,000
•2,659,500
$170,500
profits taxes-
1035.
p.
income
Profit
1,200,000
200,000
158,
of
and
Deprec., amort, and depletion....*.—-
par), issuable in series, the first series of which, consisting of 100,000
shares of series A preferred
stqck, is now being offered. ;^>.y'
number
Total
4
-
authorized
Distributions
Other income
100,000
(shares)
1,191
$2,017,655
$1,126,529
excess
claim
a
value, payable July 3 to holders
25 cents each were made on
par
last,
1,
Operating profit
200,000
i
par)
241
$3,574,873
—
$4,336,529
$32,606,
instituted
,
stock, series A (shares),
stock
no
dividend
interim
an
stock,
Quarter End. Mar. 31—
Authorized Outstand'g
■;
10.
1931.—V.
Retirement
series
_
preferred
Common
in
A
common
April
declared
(Stated for convenience in terms
y.
and to finance in part the expansion
issuable
co.
1943, net of $10,538 debt retirement for such period,
accrued dividends paid
in connection with redemption of preferred
stock in amount of $4,990. jAfter
deducting post-war credit of
as
158. p. 2581.
International Nickel Co. of Canada, Ltd.
the corpora¬
such
y
(no
subs.
a
in
-/•
capitalization Giving Effect to Present Financing
stock
of
profit—
•After
for
Stern
Net
appointed
have
June
and
3
since
promissory notes, which are held
in various-amounts
by Bankers Trust-Co. (New York), The New York
-Trust Co., National
City Bank, Cleveland, and Cleveland Trust Co.,
will discharge all the
corporation's presently • outstanding long-term
debt.
re¬
•Preferred
the
on
record
Jan.
Purpose of Issue—The proceeds to be received (estimated $9,518,701)
.will be applied, together with any necessary
treasury funds, to the
retirement of the corporation's $10,000,000
promissory notes to banks,
the
directors
The
share
pre
Jan.
profit
Fed.
Preferred
V
.
with Mr.
company in the Bermuda courts, asserting
the amount of $790,379.81.
The court
rendered—V.
for
Common
International Metal Industries,
Ltd.—Larger Dividend
1
corporation in
of
.applic. to its minority interest
companies,
•
pricipal
1
Co., Ltd.—Judgment
compensation in
ices
Rayon staple fibre was sold for use alone or with
other fibres, the chief market
being woolen and worsted manufacturers
$4,50
1942
14,370
Prov.
Underwear garments.
in
1943
29,055,652
profit
Provision for Federal income taxes_
an
arbitrator,' who, after'hearing the testimony of witnesses for both
•parties; handed down his award.
The judgment is based on the arbi¬
trator's finding that $561,750 is reasonable
compensation for the serv-1
to numerous
hosiery knitters and manufac¬
fabrics, and a small amount
jobbers. t Corporation normally-sells its knitted rayon fabric to
numerous
manufacturers,
principally for use' in the- production of "
tion
1944
$41,545,205.$38,069,423 $31,302,110
Net
judgment has been entered
a
,
turers of knitted underwear and
dated
of
Account
198,844
,
the sum of $561,750 and costs in the suit instituted
by
Stern in the Supreme Court of Bermuda for services rendered
Louis E.
to
The
the
and
improvements, etc.
Proportion
against it in
the present time, in con¬
For several years'prior to
engaged in the production and sale of rayon
was
other
among
household
and
operating
Prov. for prior years Fed. inc. taxes
;
7"-' 7 !;-'/!~v''M''/7""*7c;'"' approximately $7,900,000.
Corporation normally sells to /the .weaving trade the larger / portion g# 4%...Thei company, was ,unable to reach an agreement
vto :ihe'|amount ;of
its'textile rayon yarn not used ; in its own knitting operations, fbr
his/compensation, with the result
what
Income
deducts., net..---.
,
program.
"1942 the corporation
staple fibre! y';yv''
use,
sold,
goods
Total
ready-for
exchange- for outstanding International Industries,
Inc., stock certificates,, at the Ann Arbor Trust
Co., Ann Arbor;
Mich., transfer agent.—V. 159, p. -1763.
v
' V
>
/
of its own manufacture.
Since July,- 1943, the corporation has
engaged in the production- of high tenacity, rayon yarn (1100
denier) by the viscose process for use as tire yarn. Nearly all of the
In
of
redemption
pow
corporation is and has been the production of
by the viscose process and the sale of such yarn,
also
of
proceeds
such
Net operating income-!—
Other income and
■yarn
•:
to
Amortization of leaseholds
.
the
the
applied
was
plus-
3.4,291,901
.
and
Of
redemption.
share
per
201,291
and
business
rayon
of
$2,021,179
$110
preferred
History
The
t
date
at
;■/
At present the company is entirely devoted to war
production, turn¬
ing out airborne radio equipment, and optical and fire-control instru¬
••
of
and
ments for the Vanned forces.
stock on the New York Stock Exchange.
The Argus Optical Division has been
awarded the Army-Navy "E" twice for
outstanding, achievements on
Business—Corporation,
organized
July 20,
1925,
in
the production front.',:-"';/"V/'VVVV//;
y;V: V/;-VV
Delaware, operates- plants at Cleveland, CJ.; Painesville, O., and Coving¬
ton, Va.
■"/•:
y;
Temporary certificates imprinted with the new corporate name are
V/-/-■■■: •!;
•
v-:,/ye-/•-.,; Yy
■■■ y ;.-Y/!■"
•
the
to
debentures,
redeemed
were
administrative expenses,-—37,084,847
Depreciation,on building, alterations
.
'
stock
,
Cost
name,
v
accrued
the
...
preferred
«
Consolidated
Years Ended Jan. 31—
Net
sales
■-.*
"
to
or'
of
r
made
was
corporate
.
date
cumulative
the preferred Stock.
standing, with credit for shares previously retired otherwise- than •'(, International Industries, Inc., and the product/ name,- Argus,
/./ i :fi
The name Argus on cameras and photographic accessories has been
through use of sinking fund moneys.
The sinking fund redemption
established throughout the world.
price to and including May 15, 1954, is $101.50 a share and after
Argus, Inc., first entered the photo¬
graphic field in 1936, introducing the first all-American
'May 15, 1954, will be $100.75 a share, plus accrued dividends to the
popular priced
and are
,
On
7%
dividends
:
after
date
k
banks providing the company with a revolving credit
1947, in the aggregate amount of $5,000,000 at any one
outstanding.
;.
' :
Feb. 15, 1944, all the 18,329 outstanding shares of the
company's
time
-r'.Yy
i,.;
2083
made
at
exchanges
or
its
Bankers
are
to
agent.—V.
Trust
be
155,
made
p.
Co.
by
2457.
until
The
Dec.
1,
Minneapolis
&
profit
transferred to
surplus
$306,098
$157,654
125,000
$1.22
93,500
capital stock
Dividends
paid
Earnings per share
1944.
on
$0.63
$231 f
125,(
$0
'
"Includes
for
provision
for
depreciation of
1943, and $213,170 for 1942.
$242,248 for
1944,
$224,1
.
,
'
Consolidated Balance Sheet,
Assets—
Cash
in
U,
;
war
S.
banks
and
receivable
Inventories
receivables
Containers
Prepaid
A
.„
,
3.169
Other. Assets
Deferred
„ $300,000
___;AA-A—AA-—--
120,444
•
64,805
54,978
Capital
2,357,702
surplus. _____—L—^_A. ——A———~
Earned
surplus
250,000
2,357,702
v
profits taxes.- A
excess
;
liabilities__AA___—__A.l____—_A-—
current
Inc.—25-Cent Common Dividend—
The directors on May 8 declared a dividend of 25 cents per share
the common stock, no par value, payable June 12 to holders of
record May 27,
A like amount was paid on April 20, this year. In
1.943, the following payments were made: March 10, June 11, Sept. 10
1,573,946
,.,25,395,895
cents each; and Dec. 28, a year-end of $1.
April 25 declared the usual quarterly dividend
10, 25
Dec.
directors
The
of
7% preferred stock, par $100, payable June 1 to
20.—V. 159, p. 1974.'/ -//A. .y.-,j
on
the
$1.75 per share on
holders of record May
-
-—
-
J.
-
•'•
p.'1974.' "
Lafayette Hotel Co; (N. Y.)— Calls
Net
(S. S.) Kresge Co.—April
Sales 2.9% Higher—
gain
Sales
,
stores
"
paid.
Fund
745,555.
and
April, 1944, totaled 714, of which 62 were
Canadian. This compares' with 723 in the same month last year, in¬
cluding 62 Canadian.—V. 159, p. 1448.
AA/A/AA-A
operation
in
Stores
in
Libby—Debentures Offered—Glore,
Forgan & Co. headed a banking syndicate which on
May 17 made public offering of a $7,500,000 of 1 to 3%
serial debentures maturing in $350,000 amounts from
May 1, 1945, to May 1, 1958, with $2,600,000 due May 1,
1959, and priced at^par and accrued interest for all ma¬
turities. Coupon rates run from 1 to 3% according to
Libby, McNeill &
of
May 1, 1944; principal and semi-annual (May 1 and Nov. 1)
payable at office of Harris Trust & Savings Bank, Chicago,
or, at option of holders,
at principal office of Chase National Bank,
New York, in such coin or currency of the United States as at time
of payment shall be legal tender for payment of public and private
debts.
Redeemable as a whole, or in part in inverse order of ma¬
Dated
interest
turity, at any time on 30 days' prior notice, upon payment of prin¬
cipal amount thereof, interest accrued thereon to date of redemption,
and, in case of each debenture then to be redeemed, a premium equal
to
Vs of 1%
of, the principal amount thereof for each year (ending
fractional part of a year remaining to May: 1, 1958,
date of maturity cf such debenture, whichever
be the earlier date.
A;A - v -:*A/-- A-/1-A 'v.-/;:;/.'./ ■; .'-V
May 1)
on
a
or
to
may
or
expressed
the
Issue—The net proceeds (estimated $7,376,125), together
with approximately $1,290,000 of other funds of the company, are to be
Purpose of
July 1, 1944, at 104 plus interest
first mortgage 15-year sinking
A(., •.//.
;A/A') AAA/A>
applied to the redemption on or before
to date -of redemption, of $8,172,000
fund 4%
due Jan. 1, 1955.
bonds,
Present Financing
Capitalization Giving Effect to
' A"/A. ■/■;
>'■;'''''' '"' /A
V;
/'.■
serial debentures, due May
Common stock
($7 par) (shares)
l%-3%
:•
'i A A.'
-
1, 1945-59
A;
Authorized Outstand'g
$7,500,000 $7,500,000
4,000,000
3,627,985
founded in 1863 as a part¬
nership known as A. A. Libby & Co.,. which name was changed in
1868 ,to Libby, McNeill & Libby.
On May 1, 1888, an Illinois corpora¬
tion was formed to
acquire theBusiness of the partnership.
The
Illinois corporation was succeeded by the present company, which was
History and Business—The business was
incorporated in Maine, Aug. 6, 1903.
Company and its subsidiaries are
engaged in the production and
sale of food products, principally canned goods.
Company is under¬
stood to pack a greater variety of foods under one label than any
other factor in the canning industry.
The original partnership was
founded to engage in slaughtering and packing fresh meats and confined
itself to this activity hntil 1872 when the successor firm developed a
particularly corned beef. Since then, the
company's domestic operations have been constantly expanded and
now are divided into Jhe following
[major canned food divisions: canned
meats, pickles and' condiments,
fruits, vegetables and juices, milk,
pineapple, salmon, and baby foods. During the past three years, sales
of canned meats, California fruits, vegetables, pickles and condiments,
and pineapple represented from approximately 76%
to 81% of con¬
solidated net sales of the company and its domestic and Canadian
for
method
meats,
canning
subsidiaries.:-
v.-
•
V',
Company operates 42 plants in the United States, including
and' Alaska,'and, through subsidiaries, operates two plants in
and
in
one
which
in
Subsidiaries
England.
in
investments
were
written
off
-
and
Germany
in
1941,
were
Hawaii
Canada
Belgium,
in
operating one
plant each prior to the present war. In addition to these plants, the
company
operates lands and equipment for the growing of fruits
and vegetables at various locations, but principally in the Hawaiian
Islands for growing pineapple.'
Company's salmon operations include,
in addition to canning plants,
the operation of numerous items of
equipment. At the present time the Government is operating
the.three large..vessels owned by the company!'•
/ •" ^
floating
Underwriters—The
names
the
of
follows:'
:
Ripley & Co.,
750,000
Inc.
Blyth
& Co.,
taxes,
market
at
tising
payable, $34,284;
$4,025;
Kidder,
Peabody
&
Co.
White, Weld & Co
Dean Witter & Co.____
580,000
Freres
& Co
Lazard
Lee Higginson
650,000
Goldman, Sachs & Co._
Cost
Corp,____
460.000
460,000
460,000
460,000
460,000
Ended
Comparative Income Account, Years
Feb. 26,
■
.
'
..
A/"'..-
;
.
A
.
Net sales, inch service revenues
Cost of
goods sold and oper. costs—
Selling, gen. and admin, expenses—
Net
operating
Income
:
Federal
income
excess
Post-war
Other
refund
of
income
income
&
surtaxes
excess
11,938,830
666,774
1,506,409
4,979,561
11,478,631
Cr246,735
Cr4.97,956
128,480
113,248
1,123,734
1,486,590
4,303,308
par
A
_.
A
:v;
.
96,808..
.
Cost
of
Selling,
Net
Total
charges
normal and
Other
•Federal excess
State
$1,071,206
599,449
75,237
$r,071,206
$1,026,398
159, p.
225,143
-
900,569
900,569
300,948 A:
300,948
$1,026,398
1041.
174,974
J
:
profits. tax_rS.____u_-i_._w_:___Tr,:
2,039,541
A 458,250
248,409
,
A
'459,750 A 1,830,500
361
/ 1,691,325
____u
304,668
301,393
tax—i
335,294
.293,344
profits tax_
than
.
1,440
1,490
'/j:A 361
:
(other
in-
919,192
598,332
tax—____
33,090
29,340
122,750
1,139,737
1,106,119
2,149,897
105,940
$1,102,705
$1,021,932
$4,292,198
$3,965,501
36.719
36,719
186,875
156,875
53.319
19,799
117,208
45,727
$1,192,742
$4,596,281
403,198
$1,078,450
399,352
$4,168,104
1,449,537
$789,545
$679,098
$3,004,131
269,003
269,003
1,076,012
387,691,
387, Q91
1,550,76?;, 1,550,761
taxes)
Income
excess
income
oper.
Net
(net)
.
income
deductions
Income
income
dividends
Preferred
dividends—-
Common
~Ay. 15$,
A
_
income
Gross
p.
1,192,525,
1,199,347
2,652,463
1,592,150
$2,718,566
1,076,010
,1041. '/;.
Lukens Steel Co.—Net Income Declines—
change in the type of product sold and Increased costs, due
chiefly to large purchases of steel slabs from outside producers are the
main factors causing the "current decline in net income of this com¬
A./ "A
pany," Robert W. Wolcott, President, told stockholders on May 12 in a
message accompanying the dividend-of 25 cents per share, previously
announced.
/"A/A/'1 A/A'A" A\;/A' A/AA/ :A/A
•"//.'A//.
After summarizing the figures on net sales and net income for the
first half of the 1944 fiscal year, Mr. Wolcott declared, "the decline
in sales values of our production reflected in these figures is explained
by changes in the type of products sold, since the physical volume of
output was approximately the same in the 1944, and 1943 periods.
These changes, caused by shifting requirements of the armed forces,
included a reduction in sales of alloy and specialty steels and in con¬
version orders rolled for other metal producing companies.
In addition,
there has been an increase in sales volume of less profitable grades
Of steel.
A-.
A". AA.A- - .A-,;. ■-'••• .AAA/AA' •A'/-'"- '/A.;.'- A/A",'..' -■
"These changes occurred at, a time when Lukens, in common with
most other steel producers/was already adversely affected by rising
costs not offset by any increase in selling prices, which remain frozen
at levels prevailing before the war.
The company's net income has
also been depressed by increased costs incident to the operation of the
new 120-inch plate mill.
In an effort to produce the greatest possible
tonnage of
steel plates for the war emergency, this company has
augmented its own ingot production by the purchase of slabs from out¬
side suppliers' for. rolling on this mill.
Naturally, the purchase 'of
slabs is more costly than ingots produced in our own open hearth
-
,
$1,042,767
42,870
282,457
711,000A.;£8,000
$2,248,362
35,527
340,615
25,076
>>'108,108
$566,256
excess profits
....
limited-term.
of
come
Misc.
—A; 51,408
tax---*"472,784
tax__l__
—!___
company
118,857
;
1944—12 Mos.—1943
$4,816,504 $19,271,181 $16,765,054
7,012,685
5,891,034
1,921,128
961,223
714,059
190.923
$5,441,509
revenues
(& Subs.)—Earns.
(Ky.)
1944—3 Mos.—1943
:
income-—_
Dividends from affiliated
$923,910
$2,073,388
/•
Dominion and Prov. inc A arid
$2,227,915
divs.^
Net
(& Subs.)—Earnings—
surtax
$2,272,723
divs—__
Fed.
$637,028
income
374,770
com.
State
1944—3 Mos.—1943
$1,954,601 $2,140,286
$836,597
A
Federal
$1,253,697
1,026,398
com.
Federal
•
.
operations^—_______
—_____—:—;AA—
income
$1,246,326
A
Taxes
/T'"// A// AAA /1
1943 A
1942
$17,130,745 $11,757,652
sales
——-13,104,758
8,980,271
shipping and general and admin, exps.
1,952,600
1,853,471
income__.
$312,576
1,014,200
in
B
/,•
-
profit from
Other
72,400
,
reserve-
A investments
'
sales
6,575
V
$309,770
period-
balance
Class
Amort,
Years Ended Dec.
Net
76,350
1,061,815
-.
of
of
Maintenance A,,^—___
Depreciation —A__
//'-:■//"//'Income Statement 1
31—A'A: A'-AA'.. ' //,:// A/A
"
17,400
■
18,750
,
1944—Month—1943
'
24,253
5,975
1,494 A
$1,371,586
begin,
Operating
Operation
...
$732,848
Line Material Co.
*
r
income
Fed.
Period End. Mar. 31-r-
480,000.478,000
242,500
25,000
A 30.0Q0, A
70,000
19,537
21,467
22,715,
117,482
.117,107
',116,937
/ 'Period End. Apr. 30—
.As\
/; / 4,696
1,494 '
$1,326,777
225,142
75,237
—V.
$49,790
surplus
•
";/ 5,896
Louisville Gas & Electric Co.
.
158. P. 2582.
V
$1,356,384
27,731
$336,166
*
Class
6,724,723
94,905
u,,:
Sales
—V.
)
.
in-'
Total
1942
8,275,642
99,759
8,782,893
__
$335,910
1944—12 Mos.—1943
$1,356,924
1944—3 Mos.—1943
/'■A
contingency
v
April Sales Off 12.4%—
for
Net income
$50,864
$36,325
•After deduction of debt retirement credit and post-war refund of
excess profits tax.
/ v\
;AA,r;:;;•■'-A; >7-/. ■>■'87:.: ,'a,AvA:
.A'AA;' A). ; ''::A:":'':v"A 77 ■ Balance Sheet, Jan. 31, 1944)vA',AtA:.''':^A^'A(\'A)A
Assets—Cash, $316,316; accounts receivable, trade (including instal¬
ment sales contracts) (less reserve" for doubtful accounts of $1,661),
$20,101; sundry accounts receivable, $896; advance payments on mer¬
chandise,
$30,465; cash surrender value of life insurance, $93,999;
merchandise, $954,076; merchandise in transit, $113,485; U. S. Treasury
bonds
(2% due 1949-51, at cost). $1,700; post-war refund of excess
profits tax (estimated), $40,000; accounts receivable from employees,
$918; advances to employees and others, $1,567; advances to lessors
under
agreements, $6,656; deferred charges, $23,525; capital assets,
$704,776; total, $2,308,480.
'"Aa'A"'''
A')': A
AA v
Liabilities—Accounts
payable, trade creditors, $114,426;
accounts
payable, sundry^. $53,174; sundry accrued expenses, commissions, in¬
terest, etc., $78,550; Federal/arid State/taxes accrued (estimated)'(less
U. S. Treasury notes, tax series C, of $518,948), $56,053; /real estate
mortgage instalment payable
within one year, $7,320; real estate
mortgages payable (less; amount of principal due within one year, as
shown above, of $7,320); $168,190; reserve for contingencies, $125,000;
7%
cumulative preferred stock (par $100), $266,600; common stock
(69,173
no
par
shares), $691,427; earned surplus, $747,740; total,
$2,308,480.- "
!
Balance,
exps—
than
taxes);'
Transfer
■
for estimated Federal
reserve
$38,309;
$7,308,104
expenses
Net
Approporiation to reserve for possible
losses, post-war adjust, and other
inventory
conting.
80,000
See also V. 159, p. 1765.
plants."
A Balance
Earned
—
Operating
$557,028
$566,256
$1.30
$1.32
credits of, $79,000 in 1943 and $2,000 in 1942.
share on capital stock
♦Net of debt retirement
Consolidated
Balance Sheet, Dec.
31, 1943
.
'■
notes, tax series C, $600,000;
marketable securities, at cost, $106,856; receivables (less reserve for
doubtful receivables of $55,747), $2,417,982; expenditures for machinery,
tools, equipment, etc., for account of U. S. Government, $396,701; in¬
ventories, priced substantially at standard cost, not in excess of actual
cost or market, $3,841,978; supplies, unexpired insurance, etc., $198,500; investments, advances, etc., $152,968; plant and equipment (less
reserves for depreciation of $1,278,067), $1,787,815; patent and patent
rights (less amortization), $1,777; total $10,546,259,Liabllities—Notes payable, bank (current maturity of long-term notes
payable), $250,000; accounts payable, $1,051,988; due U. S. Government
under
agreements for contract price
112,013
500,000
500,000
4,561,007
3,682,026
1,269,795
Federal
income
$424,-
notes payable to bank (2%/'due $250,000 annually on
1, 1944 and 1945 (less current maturity iridluded above of $250,000), $250,000; reserve for possible inventory"^ losses, post-war adjust¬
ments and other contingencies, $180,000; reserve for refundable portion
of Canadian excess profits tax, $^5,517; reserve for reconditioning siren
long-term
equipment sold,
$395; capital stock ($5 par), $2,147,040;
capital sur-
15,183
26,183
17,013
22,057
19,502
22,343
3,980
20,409,
$44,062
Dr3,713
$55,121;
Dr202
$47,774
L—
income
$55,322*
_
taxes_-_—
A--
—
Retirement. reserve
accruals-
operating
income—
Utility
Other
income
Gross
Bond
—
(net)
income
income
plant
Miscellaneous
Cash
—
special
Balance
.
Materials
Total
>
March
;
-
,-i—_
supplies
.
—
-
1,456
101,258
24,131
.
21,504
9,263
;—:
_r—_—
.
579
$12,532)
1943
1944
—
I
35,489!
•
A
31
$1,269,709
—
-
and
840
>,
A /
receivable
Prepayments
debits
Deferred
Sheet,
funds
—
Accounts
>
__•
$27,264
-A'.,: A.
Assets—
Utility
companies_i
——
Comparative
.
6,772
19,667
interest
Interest advances from associated
Other
income charges
:
Net
J
$298,256
176,901
$303,744
A 179,245
—
taxes
General
1943
1944
.
—!——
Maintenance-
redetermination, $248,654; accrued
salaries, commissions, etc., $62,238; accrued taxes, other than
taxes, $111,372; other accrued liabilities, $90,682;. provision for
Federal income
taxes, $1,092,000; provision for State income taxes,
wages,
Dominion and Provincial taxes,
A
revenues
Operation
Assets—Cash, $1,041,683; U. S. Treasury
814;
109,787
1,632,593
per
Lynchburg Gas Co.—Earnings—
12 Mos. Ended March 31—
-
Dec.
500,000
1,632,593
profit
$58,500; provision for Canadian,
2,054,29 1
income
:v
1943
dividends
Common
admin,
(other
come'
Bal.,
v
$9,072,839
.
i.
•Provision for accrued Federal. in¬
come and excess profits taxjes
Provision for contingencies
Preferred dividends)
-r-v--
270,960
67,448
taxes
Dommon dividends
1,507,517
-
profits
taxes
Approp. to reserve for contingencies
Net
11,369.314
109,317
518,777
income
profits taxes^
taxes, including debt retirementCanadian
11,836,671
102,159
6,814,379
6,997,124
normal
'42
92,371,996 121,754,559 106,155,572
77,026,362 102,043,713
85,975,921
8,531,255
7,874,176
8,810,336
182,745
:
deductions
-Federal
$
'44 Feb. 27, '43 Feb. 28,
$
$
2,467,346
profit—J
Other income
Total
,
selling
sold,
merchandise
of
and general
Depreciation
■
A
•
„
1944
$9,571,510
Years Ended Jan. 31—
31, 1944
net assets March 31, 1944,
171,419 outstanding shares of
value each, $6,707,246.—V. 159, p. ,639.
total,
Bal, end of period—
;
*42,685
38,624
.
share for the
per
■
statement,
1148. '
159, p.
men.—V.
Stores, Inc.—Earnings—
Lincoln
.
Prov.
"some time"
display
-
quotations
/>
and
Taxes
460,000
650,000
Corp.
Brothers
Lehman
$460,000
Hay den, Stone & Co
Hornblower & Weeks
650,000
Inc
Boston
First
The
regional director of the division, in a
this company and its subsidiary,
^102,618
34,861.
several underwriters and the prin¬
,
Glore, Forgan & Co._„$l,000,000
Harriman
White,
for
A
'A;.':
,
State
Gen.
[A,
Pinkerton
Tobacco Co., of Toledo, Ohio, have been in complete compliance with
the Federal wage-hour law.
He said that investigation of the two
companies had, however, revealed a misunderstanding of the over¬
time provision of the law as it applies to sales-promotion or adver¬
cipal amount of debentures to be purchased by each underwriter are
as
J.
r
and Net Assets, March
Liabilities
Assets,
Period End. Mar. 31—
7',,<■'■■'' V ! .7'77
•<
-
that
Sales
maturity.
I
Wage-and-Hour
Arthur
said
19,516
Louisville Gas & Electric Co. (Del.)—Earnings—
V
on
Hawaii.;
44,722
at
equivalent to $39.13
capital stock of $10
A;
-
$36,532
$40,903
$20,913
w413
_______
Liabilities—Dividend
;
$77,200 of Bonds—
Co.—Overtime Pay—
A/
(carried on the books-of
average
cost,
$6,253,328),
$6,560,776; cash in bank,
$124,242;
cash on deposit for. dividend payable, $34,284;
dividends
receivable, $24,521;
accrued interest receivable, $1,733;
total, $6,-
Division of the/U. S. Department of Labor
May 16 announced
that this company Is "voluntarily" paying
$296,998 in overtime pay restitution to 2,158 employeest chiefly pro¬
motional salesmen, in 96' branches of the company in 40 States and
The
$28,340 A
7,427
-
34,284
secur. ,sold
on
Statement
the
2047.
Liggett & Myers Tobacco
.
1944—Month—1943
1944—4 Mos.—1943 ?'
—$17,578,799 $17,083,304 $62,091,021 $58,830,796
Period End. Apr. 30—
■
1943 ,.,•■*./>
a
$48,575
Revenues
r
'• A/A1942 "
1941"
$54,497 A $56,892
13,593 '
' 20,361
.
1944 a
$61,270':-
•
Assets—Securities,
stores
about
has called for redemption as of
p.
and
""Loss.'"':/J.?■:''■■7
-
" June 1'5, 1944. a total
of $100,000 of its outstanding 5% .first mortgage bonds, due Dec. 15,
1947, at 101 and interest.
Payment will be made at the Guaranty
Trust Co., successor trustee, 140 Broadway, New York, N. Y.,\ Of the
bonds called, $22,800 principal amount is for account of the sinking
158,
of the Fund were distributed
Government bonds, 13.8%; other
investments
Cash
profit
Dividends
by fire in 1943.—V. 159,
■
Report—
V>: j*
_AA; $61,441,354
; C.
H. Owen, General.Counsel for the.
holders' meeting held recently, announced that two Arkansas
will
be reopened next month, viz:
One in Little Rock on or
June 29 and the other in Pine Bluff ton or about June 15.
These
fund.—V.
' ;
nitrate.—
""
..
A.,'/;,
'■/'.// '
•'/'>';.A
'.['-.A/"A> Income Account
VvV--'
.
Net
Two Stores—
~
company, at the annual stock¬
company
31, 1944
follows:
8,222,354
A*!
had been destroyed
as
Expenses .—w__—A;-_aA;A 12,694
6,081.966
'
and
for excel¬
preferred
Total" income
(S. H.) Kress & Co.—To Reopen
The
March
and
A
1975*
159. p.
■'•V.,f-v'.v'
.
3 Mos. End. March 31— >;■'
3,802,953
V
on
of
share.
'A 330.000
) 7,842.009
;__/
A—AA_A.
surplus
Total
—V.
45,876
Kobacker Stores,
6,038,307
'
—
'
v'
70,876
AAiA $5,665,110'* $5,460,698
Total ^ A—AAA. A
-V. 159, p. 9.
///v
liabilities
rV./A
.
Ozark Ord¬
stocks, 9.3%; common stocks and common stock
type bonds and preferred stocks, 76.9%,
The net asset value per share
on
Dec. 31, 1943 was $38.04, and on March 31, 1944 was $39.13 per
'$2,153,932
income and
Canadian
1,507.698
1,688,796
'_A_A^——-A——A—r;
contingencies.-.—.—-
As
•
bonds
54,978
250,000
Award—
subsidiary, operators of the
a
was
Loomis-Sayles Second Fund, Inc.—Quarterly
/./';//
/A
payable
and
Earned
stock ($1 par)
for
492.455
Capital stock -(par $7)-l>—
Paid-in surplus
A A-A
25,000
5
434,133
..
_______
Long-term debt 3 A A—-A/. A A—AA—A__ AA A-AAAReserves .—_—>—„—A—aA-A--_-——
_
Reserve
'
A——A-AA.--—AA,
accrued
Other
278,360
121,749 101,523
5
37,500" ,4'1501000
Corp.,
May
on
approximately
Accounts
Other
Works,
V. 159, p. 1864.
$61,441,354
Federal
414,870
■
Common
■
charges
Liabilities—
221,532
144,416
48,611
308,389
—_—.—.A—
surtax—AA—A~A_
Other taxes
AAAAAAAA;AA.i.'-A'A'AA:
Deposits refundable to the trade on returnable
boxes and ■ bottles__A——AA—---AA--A-;
Accrued expenses and sundry liabilities..—
Note payable (bank)', due April 15, 1944-AA—
Mortgage payable on real estate
Reserve for revaluation of assets ot subsidiary
payable' (trade),
tax and
normal
1,262,483
15,985,972
$5,460,698
$150,000
.
...
Property, plant and equipment (net A.
46,536
Chemical
Lion
awarded the Army-Navy "E"
lence in production, according to an announcement.
This subsidiary manufactures ammonia
and ammonium
650,182
/
Investments
2,636,530
2,594
nance
■
Total
(bank)
payable
Federal
assets
current
The
2,014,968
.A
;
)-L—-
_
Accounts
16 480,972
'
'
:
'
.
Lion Oil Refining Co.—Subs. Receives
8,417,293
'
A-.A. A; ■;'•:
■
Liabilities—
Note
Other
27.944
$5,665,110
'
A
(net)
Inventories
639,657
2,523,144
51,328
—-
A-A-A-A-.—-A-i—AA/A/'
Other' assets
Total
8,000
19,900
A—————A—836,497
equipment.:
—
expenses and deferred charges
Dr$8,094; total, $10,546,259.—V. 158, p. 2470.
$6,742,602
AAi.1
8,960,294
868,096
treasury stock, 2,176 shares,
earned surplus, $4,470,082;
plus, $21,071;
Sheet, Feb. 26, 1944
Balance
..
demand deposits
hand and
on
606,410
823,399
-A.
and
Plant
—
.
Cash
$624,355
100,000
599,463
:
_
(trade)
i___
Assets—
1943 ,v
,
$708,785
-
.
bonds, series G_
Accounts
Sundry
hand
on
Consolidated
Jan. 31
3944
Monday, May 22, 1944
CHRONICLE
THE COMMERCIAL & FINANCIAL
2084
$1,263,759
»
72,726
28,904
.23,141
3,984
287
749
$1,427,608
$1,393,265
Volume 159
Number 4283
Liabilities—
Capital
First
1
stock
($10
mortgage
Accounts
Customers'
Taxes
deposits
Reserves;
Contributions
Capital
Earned
aid
218,270
197,278
construction-
surplus
surplus
of
341
341
215,277
215,277
28,390
6,117
————
—————i—.
i
exhaust the
to
and interest.—V.
1
Arthur
$1,427,608
E.
Co.,; according
Benson
to W. Stanley Kite, President.
resigned as a Vice-President.—V.
recently
1
with
follows:
as
Dec.
1,
15
Feb.
cents.—V.
27,
June
and
1
158, p. 2363.
Sept,
*w'v
;V;
1,
•Profit
before
1944
-$1,310,899
prof.t
/
taxes.
Prov. for Fed. income &
excess
taxes
25
cents
each;
;
...
—V.
and
1944
The
1943
$536,776
413,318
■:V
158, p.
A
™!——
2582.
Y:\;v-
' •
$123,458
record
Calif.,
of
the
Market Street Ry. for
368,000
•!:
of the
Total
Dry
5"' 1944
'
-•,- 1943 25.894 tons' "" 26,260 tons '
hoisted/-—*™£i
ore
Low-grade
material- sorted.
4,425 tons
mulled_wi_______ ; '
tons
Average grade' of
Percentage' of extraction.^.'
ozs.
y97.6 %vV
\ Value of Canadian funds of '■
bullion;;
-
produced :
s
-
and
4,381 tons
0.292 Ozs.
,
/■■; 98.23 %
Masonite
•
A
1942
operative
21,439 tons
•
May
on
Press
16
V.' 159,
//Z
■"
//-;
/
$241,501;
-
Since
the
Alexander,
$272,571
McQuay-Norris Manufacturing Co.—Common Stock
Offered—Shields & Co. on May 15 offered at $l6.5ti per
-share 50,000 shares of common stock (par
$10). • The
the company.
financing
the
manufacture
trucks,
tractors
and
and
sale
of
aircraft,
engine parts for automobiles,
certain
chassis parts for auto¬
to
Engine parts include piston rings, pistons and piston
.pins, water pumps and water pump parts, connecting rod and main
bearings, cylinder sleeves and cylinder sleeve assemblies, and valve
guides.
Chassis parts include steering knuckle bolts and
bushings,
and spring bolts and
bushings.
In addition, a wide variety of other
equipment,
engines.
.Include
valves
assemblies,
estimates
Certain
others
and
Silent
items
not
manufactured
diesel
and
but
sold
L.
shackles, and wheel suspension
parts.
To
Capitalization
;
of Dec.
as
-
!■
h
•Notes
payable
tCommon stock
•These
/
to
As
'
the
$10)
'or
1944
issued
stock
.number
of
shares
,to purchase
&
are
<fe
of
the
stock
common
Weeks
which
5,500
■Fed.
3,50(>
-
Income
Statement,
Years
Ended
f.
11943
•
\
equipment
over
to
with
U.
Total
S.
gross
Selling,
6.476,588
64,970
140,057
$3,273,666
$2,762,782
$2,761,079
/
1,660,540
v
$4,934,207
admin,
expenses™j
paid
•Federal
/
3,171,760
$3,934,542-
income
$2,938,063
-"
In
1942
taxes
amount
an
-
Net
■"
•After
A
-
of
post-war
Dec.
to
exhaust
the
14,226
ages
5,457
1,312,451
profits
•
5
$5,989,049
15,
stock,
25
cents
tax
1941
$300,597
Nil
and
Canadian
2583.
will
$0.53
probably
/V
in
down
go
history
as
Of
one
excess of any previous year.
debt, including conditional sales agreement,
31,
1943,
cash
materials
>
v
-
current
$7,102,421;
and
supplies
Total
liabilities
current
.
(excluding tax anticipation notes)
and
this
amount
$2,803,035
improvements
amounted
current
to
assets
which $9,760,254
..-.i
:
was
to
was
the
used
property
in
making much needed additions
and
the
remainder
for
other
credit
/
1,995
'1943
Federal
payable
15.
each.—V,
June
on.
50
159,
'
25
1,153,230
'
1,168,258
3,505,701
made
was
$2,350,900
March
15,
•
per .share
has been
each
of
declared
convertible
holders
to-
the
of
17
amounted
•/•••
:
r■«
a
dividend
288,850
288,850
45.512
Income
tax
1,948
131,406
./ 1,202
590,434
642,369
538,741
$5,106,842
$1,914,240
30,928,868
19,668,767
16.51
9.73
other
Sta.te
than
normal
t$22,000
Nil
.
excess
income
Portion
of
.
•
15
to
cent*
holders
1660.
-
and
last:
June
25 cents
June
license
of
of
record
15,
in
Sept.
15
-
29.
1943
and.
to States—,
excise,
miscellaneous
taxes™
$9,964,560
1942
to
Revenue
cessation
of debt
/
—-
oper.
profits
A
$13.25
per
%
hostilities.
However,
V..,
v
and
profits
from
revenue
856,136
629,000
!
properties
rev.
790.800
163,000
114,000
equiv1,693,702
1,736,395
$1,146,357
19,149
!
gross, income
31,
•
1943.
•
$1,257.4«7
$1,143,077
347,355
—
'at
evHay-
1942
1941
$30,580,407
$24,045,988
$16,257,795
13,280,698
11,656,436
8,665,696
2,763,831,270 2,193,145,909 1,497,371,056
—
208
/
188.2
/-1"
'172.8
total
to
/
52.66
$8,800,388
$4,654,316
$1,706,194
2,648,235
1,601,699
837,825
mile_—
435,797,804
240,468,654
97,553.321
Average haul per pass., miles-
164.6
150.2
116.6
20.81
15.05
8.67
—
on
traffic orig¬
.line—;
Revenue from passengers
Number revenue passengers—
—
No.
82.66
revenue
of
pass,
pass.
operating
one
rev.
to
total
revenues
'
Comparative Income Statement
Calendar Years—
■
1943
1942
1941
Average miles operated™—
1,085.47
1,107.42
1,110.90
railway operating revenues— $42,284,019 $30,928,868 $19,668,767
Total railway operating expenses™
26,459,060
19,662.787
14,128,157
Railway tax accruals-—
™i
;
9,914,308
5,047,943
1,855,540
Total
Total
railway operating
income-
Joint
facility rent, Cr
$776,518
.
$6,218,138
$3,685,070
734,354
563.549
223,899
railway operating income—
Non-operating
Deduction
Net
.
,
.
.
income™—-
219,129
187,897
$5,083,496
$5,702,914
$3,309,419
from
income
gross
income™!—
212,036
198,298
189.350
$5,295,532
—
income
Dividends
,
-
$5,910,652
1,051,055
—
366,558
tetirement and post-^r credit of $51,400 for
Ma^ch/'i31iVi1944, and $81,200 for 12 months ended
'■jv'Taser
•
/;••■''
1
Years
of freight
inating
*After deducting .debt
-
Calendar
Dr3,281
Net.income.,—$910,112
March
that
40%
Dur¬
1,253,989
$1,238,319
income"————'
to
—
taxes
revenues
«nded.
equal
profits tax.
46.77
revenues
8,705,682
| 462.600
r
of
operating revenues„„i_
months
provides
amount
excess
40.14
Percent
Gross
.
further
an
77.75
Net
„
Act
the
72.32
•
1_
sale
on
from
■
/-./
for
™„—
of freight
operating
1943
562,000
freight.
freight
rev.
Percent
(& Subs.)—
985,004
taxes
surtax—™——
tax
tax——
Non-operating
of
■;'.••/""■•
freight, one mile
Average haul, miles
similar
10,254.197
——
income
tax
losses
the
reduced bv
be
may
retirements, not to exceed 10%
Equipment rents, Dr
,12
23.57
provides for a post-war refund equal to 10%
evidenced by bonds maturing two to five years
Traffic Statistics
/■./
,
Net
42,284,019
----
Act
tax,
of
revs.,
ing the year 1943 the current reduction, under this provision of the
Act, amounted to $763,595, leaving $29,874 to be covered by post-war
Arrear¬
share.—V, 159,
1°44
1,199
franchise,
revenues
taes
excess
Tons
share
May
payable
and
of
after
accqunt of
stock, no
1.
v
alent .to resulting reduction .in income
.Provision for depreciation-
Deductions
Payments
'
Total
The
precetding quarters.
to
■
per
tax
Railway property,
Tons
„™..™._\™,—™™™—™;__ $16,563,211 $13,967,371
.
§$0.57
of
on
preference
record
$751,086
223,763
Percent
revenues
$751,086
Z
stock
2,354,670
1944,
,
397,945
$2,529,262
2,220,457
15
in
expenses^.
,
$3,535,973
..
Capital
3,550,296
795,000
/Milwaukee Electric Ry, & Transport Co.
Taxes
1,446,815
397,945
Operating
$856,081
cumulative
$2
June
Operating
$110,886
1941 '.
$2,089,158
6,885,064
505,080
1944—3 Mos.—1943
12 Months Ended March 31—
1941
;
/: 1942
"
$1,211,102
547,170
Ratio
$777,128
cents
the
on
Operating
.
Income .and surtax-
profits.tax
1.
e;>.'
Carriers taxing act tempi's pension)
Railroad unemployment ins. tax-—
Corp.—25-Cent Preferred Dividend—
$145,595
'
\
1942
$76,426
t$0.40
.
.
March-15,
p.
excess
1943
257,288
of
:
1943
+$0.15
normal
Federal
Earnings—
$534,455
285,878
1
tax
Co.—Earnings—
$28,853
.
disbursed
.March
$o.i6
738,350
of
cor¬
ty,
Comparing Taxes with Operating Revenues
$5,667,913 $17,727,331 $16,447,744
3,643,574
11,870,730
10,368,186
-4,048,658
payable
$3,762,-
amounted
(of
purposes.
1557.
Oil
out¬
results greatly in
funded
year
payment of current taxes
>
tOn
taxes.
;
in
anticipation notes, $5,997,000,
1943
porate
$5,079,954 $17,760,591 $16,483,884
•
12,041
33,260
.
36,140
10,033
income™—
at
as
p.; 937.
•
263,159
■
5,088
$609,989
.285,878
•
1944
May 17 declared
was
follows:
1942
$25,606
the
Of
267,261
■
$813,722
excess
10,959
227,653
.
amount
158, p.
amounted
of
sum
.
as
Federal
$2,080,175.
$521,206
Nil
1,1944—Month—1943
taxes:/™-™
distribution
charges and provision for Federal income taxes.
tLoss.
tOn
shares of common stock.
§On
192,700 common
shares.—
p., 1975.;
•
;'/•''
the "capital
Subs.)—Earns.
//
$5,979,016
dividend
Gross
like
$50,527 "
X;
in
new
necessary.
states:
1943
to
bonds.
.•Federal
Dredging
on
for
reserve
shares.—V.
$22,205,302
and
$0.03
rey._^
accumulations
Magma Copper Co.—25-Cent Distribution—
;A
31—.
expenses
par-value,
$1,077,829
$2,169,407
$207,627 in 1943.—V, 159, p. 1975.
directors
are
$0.59
and
performance
Dec.
Revenue
28,856
1,868,645
•
————-™
•Net earnings (est.)
.Earnings per share™_^
;On
165,000
$401,981
revenues™
-; Midland
6,000
$1,048,972
" 24,772
/ 260,692
"
3 Mos. End. Mar. 31—
.were
22,500
also in 1944 possible renegotiation of
tOn 1,617,921 shares of common stock.—V. 159,
sufficient
oper.
oper.
income
Federal
The
58,466
55,716
profits taxes,
revenues
—V. 159, p.
1,803,683
.
6,000
31,475
/'
profits 'tax-™—1:
McWilliams
(&
$0.30
In
$800,389
8,786
$0.07
"v,V
Net
97,576
$2,137,932
$2,973,288
'.
:
tax™_™'—:
deduction
and
189,400
V. 159.
$138,026
» 273,300
-
35,226
Dividends—-j—„,™
•After
Fibres, Inc.
share—
taxes)
8,168
56,213
$373,919
rapidly
thus
the
as
for
to $16,421,947. ■
;V.'
railway accrued taxes in the sum of $9,964,560, made a
profit of $3,696,226 and paid dividends, $1 per share declared April 27,
payable June 1, and $2 per share declared Oct. 26, payable Dec. 1,
1943, aggregating $767,941 for the year, leaving a balance of $2,928,280.
13,841
Metropolitan Play houses; Inc.—Call for Tenders—
Operating
Operating
$2,858,655
1,790,609 v
;
6,000
,„™L„——„™_'_-
excess
income
15,7351
8,857
"
Interest
propellers
Is
and
engines
*$337,574
1943
year
"
1,990,144
x
—_„„™_™™Z™
•Federal 'income
Net
excess
Operating
•
State
J-
contract
profit
Income
four-bladed
engines
efficiency
horspower of such
*$337,574
many
to
.
*692,500
:
Period End. Mar.
28,782
/'• 192,539
V/,'Vri
under
Net/ operating, profit™——
Other,,income
.Total
R-2800-C,
propellers, Mr. Mason
aircraft
propeller
1943
per
reduced
087;
2,344
112,762
•
.
com¬
Corsair
;);//;/.
charges
for
On
Michigan Bell Telephone Co,~Earnings—
•
-
tax
four-bladed
™™„i™
During the
v
"/'
Prov. for doubtful notes & accounts
.
inc.
the
three-bladed
1943 has produced
was
$776,036
5,085J
.
im¬
an
which
Navy
the
1941
$122,291
$796,901
12,350 j ;
of
production for many industries, but none
railroads, giving due consideration to the many
handicaps and obstacles confronting them. At the close of 1942 it was
though that this railway's business had reached an all-time high but
;/
1942
4,872]
141,673;//,
and
engine,
capacity
1944
common
The
1941
215,213
Government
&
gen.
subsidiaries)
$780,518
$1 220,441
to
increasing power'of
Automotive
taxes
standing
$235,410, at prices
not to exceed the redemption
price of the debentures.—V. 159, p. 1355.
normal
taX_-—
■-
earned
Whitney
After
3,527,020
6,426
propellers
aircraft
carrying
profit after all chgs.
sults
;
.
2,615,340
>;
'. *'
Nashville, Chattanooga & St. Louis Ry.—Annual Re¬
port—Fitzgerald Hall, President, commenting on the re¬
share
per
-531.930
6,040
^
State
Operating
profit from sales.L™™_—;
fees
cents
35
r
.6,452
and
fully the extra
159, p. 1976.
512,874
The Central Hanover Bank & Trust Co.,
$9,406,506
144,105
excise
'.Vy ■" V.'
Gross
Fixed
and
Uncollect/
depreciation,
i,
*
corporate trustee, 70 Broad¬
way, New York, N, Y., will until 12 o'clock noon (EWT) on May 25
receive bids for the sale to it of 5% debentures due Feb.
1, 1945,
of war facilities, and for deprecia-.
'
of
1975.
6,666.
V
,
4,235,524
;
for
1956,
lJ
"
,096,166
-
•"
Dec. ••'31' '
,1942
$15,991,971 $11,563,790
12,358,987 ...8,543,499
'sales..—_™™™™-™I^_™
of
utilize
&
the
the limits of
tEarnings
$4,303,056
™i_™.™,
1557.
;
Excess of prevision for amortization
tion
to
and
Secretary
$2,737,631
,-
(estimated).
;p.
Daniel F. Ricke & Co.™2—_ 1,500
;
^Gross sales,' less returns, etc.—
Manufacturers'
Net
$3,312,448
royalties.™™'
•Includes
•
'
;
&
•government contracts.-
McCormick & Co_ 2,500
.McDonald-Coolidge &• C.o.-j 3,500, v ' Cruttenden &
1,500
jReinholdt & Gardner_ai___: 3,000 v Riter & Co.™/™_-____---- 1.000
G. H. Walker. &
Co.„„_„._, 2,500
Bacon, Whipple & Co.™---'1,000
'
p.
four-bladed
new
supercharged
speed
3 Mos. End. Mar. 31—
;;;
Warner,
Kline,
the
the switch
on
out1 that
National
250,000 to
T.
of
two-stage,
the
9,
was
v
Net profit i/^r™_„__-"
tEarns, per share
Piper, Jaffray & Hopwood™ 2,500
Mitchum, TUlly .& Co.™„L_ 2,500
-Farwell. Chapman & Co.jj;, 2,000
.
Redpqth
of
E.
D.
1944.
1,
Mason
Pratt
Incorporation
from
Division;
dividend
a
$1,201,283
received---
income
/ '
'
Cost
divs.
Total
,
underwriters and/the
each has severally. agreed
Kebbon.
.AuchineldsSj -JParker ds,
.
of
stock
1,
first mortgage and
ensuing
■/;.•■; ■:«
.
of
'
production
Commenting
$1.: payable June 20 to holders of record
paid on March 20, last, and in each
par
amount
.Sundry deductions'
Deprec. & amorL-^-'™.,;
principal
Newhard, Cook & Co.™™._ 5,500
-
.■
May
$5,436,807
income
-■
follows:....
Consolidated
Articles
shares of
Motor
declared
16
^™
.Sundry
v,
Company™.——12,000
Hornblower
&
Discts.
434,047
indenture,
(par
names
of
as
stock.
like
A
May
Operating -profit-
/////,/';/'• V/1''/ »"''/ Shares
Shields
amend
■.
on
for the
of $182,000
sinking fund bonds due Feb.
■f
Underwriters—The
,
■
of
during 1943.—V. 159,
sales
Int.
annum." fCertificate of incorporation amended,'effective
/April 3/ 1944. to change each authorized but unissued share and each
plan of reorganization of the New Haven approved by the'Interstate
of 'common
held
serve
total
a
20-year
.-••
June
at
Payment will be made at The Royal Bank of Canada,
159, p. 1693.
increase
amounted
per
shares
shareholders
to
Manager,
charge
scale
pointed
in
—V.
the
■>.:
iCost of sales & exps.^ f
.
1 Vz %
of
.
of six months' 'maturity ($800 000 maturing June 28, 1944, and
$1,000,000 maturing Oct. 26, 1'944), and bear interest at the rate of
;are
percentages
•
*
of
as
.
Mississippi, and
varying
(Excluding wholly-owned Canadian
3'Mos.End. Mar:-31-4i C"4V:^1944 '.-u'j-ja943.
$1,800,000
any•
3J/2%
redemption
The new contracts mark the first time the
company will be mak¬
and engines for the same planes.
Present NashKelvinator built propellers are
supplied for 25 different types of Allied
and American bombers.
■
;
.
in
unanimously re-elected to
Sales
on
common
5;
Net
Outstand'g
under
.
of timberland in
Consolidated—Calls
ing both propellers
been
pressed
'
$1,800,000
'
committee
Maytaff Co. (& Subs.)—Earnings—
V'. //■/•;'/>,/
April 3.
(sharesr 450,000
authorized
not
are
of
sinking fund,
will exceed that of
the
Authorized
-
banks__.,i_u^!__w_-™i.___^
(par
notes
-vV
•"*/::/
'
31, 1944
'
'
the
on
Government, of certain ordnance items; at Government-owned;
equipped plants, which are managed by the company under con¬
tracts with the Government on a
cost-plus-fixed-fee'basis, v.,". /'■/£'
directors
;June
S.
1
-
Pay 35-Cent Dividend—
/quarter
and
-
the
its manufacture of
for
on
June 4
739.
.
.,
,
;
that
manufacturing; H.
Treasurer, and W. H. Nicholas, Comptroller.
The
Company
approximately 6% of the consolidated net sales for
1943 consisted of items purchased from others for resale. ' ;
At present the
company is also engaged in the production, for
/U.
-
called
5,
p.
said that neither of the new
contracts, involving "sub¬
orders," will interrupt the company's current assembly line
production of three-bladed Hamilton Standard hydromatic
propellers
and two-stage, supercharged Pratt &
Whitney 2,000 h.p. engines. /
1
following the shareholders' meeting, the new directors
following officers: E. -P. Larsh, Chairman of the Board;
Warriner, President and General Manager; W. R. Clements,
in
and
the
overtaking
.
and
pur¬
'year
meeting
March
stantial
the
L.
been
2,100 h.p.
Mr.
some
had
company's authorized
Vice-President
resale, principally for replacement use. and
valve springs, tie rod sockets and rods/ drag link
U
the
Vice-President
for
that
com¬
owns
in
He
added
Power
&
holders
issue
Hellcat fighters, will soon result In a shift of Nash-Kelvinator's
production activities, it was disclosed by George W. Mason, Pres¬
during a meeting at Detroit last week with general managers
from all company plants.
/,.'-.
-v
Immediately
and
are
the
Masonite
Heat
to
159,
share
per
8
this
on
follows:
as
cents
June
and
Co.—Stock Increased—Officers Elected
were
25
war
for inter¬
shareholders also voted
increase
elected
parts is manufactured in accordance with customer
blueprint specifica¬
tions, having application in automobiles, trucks, tractors, aircraft,
motorized military equipment, agricultural
marine
The
500,000."....r. h
motive vehicles.
chased *rcm
adjourned
board of directors
certain
and
the
At
Light,
trust
will
order
"year.
were
.Y
159,'p.V 738.
Eiectric
1943
of
payable
disbursed
was
ident,
had been besieged by requests
hardboards without interruption.
Master
■
of
Large
Jasper and Wayne
■■:
/;
possible oil fields in Mississippi, Mr.
that the company could continue
160,924 acres.—V.
in
dividend
a
value,
par
amount
'
•-
on
oil found
any
rights
behalf of
on
offers
or
discoveries
The corporation owns 162,744 acres
this acreage owns'the mineral
of
Company—Organized in Delaware, April 6, 1923, as the successor to
business formed Feb. 21, 1920, started in 1910. .Is,engaged principally
in
so
wood
;
new
and
oil
announcement of two
company
for leases.
$2.50
like
Nash-Kelvinator Corp.—Receives New Aircraft Orders
-
bined
•'•■
although
noted,
recent
i
said,.the
views
drilled
been
-lands,- Mr. -Alexander
"set up
.offering does not represent
1865.
p.
Toronto, Canada.—V.
proved
9 in a letter to stockholders.
wells- have
no
16 declared
of
A
Payments
102 and interest.
in Montreal,
Corp.—Oil Committee Named—
acreage near1 the
counties.. /■>.• *"• ' v""--,
;
937.
p.
•
far
pany's
-
$214,199'
159,
..
collateral
dis-:
proposal brought to a close 32
-timber
<
marketed
.
May
on
Thus
-
.341 OZS;
'
••
Corp.—V.
7, 25 cents each; and Dec. 3, 50 cents.—V.
have
account
special committee' has been appointed to handle the corporation's
oil interests in Mississippi,1 Ben
Alexander, President, an¬
nounced
-'-"*J:
last.
There
•possible
4,836 tons
// i- 96.9% !
1.
the
' 26,275 tons
'
21,469 tons' " 21,879 tons
: 0.2655
milled
ore
Ltd.—Operations
3,
May
stock
June
Montreal
^
McKenzie Red Lake Gold Mines,,
Light
Bonds—
purchase by the City of San
properties of the privately owned
years of competition
municipally owned and the privately owned systems.
On
four previous occasions the people voted against
purchase of the private system;-^V. 159, p., 1449,.
/.
between
.'" •After charges and contingency reserve.—V. 159,
Quarters Ended March 31—
&
;//■■;!
$7,500,000 was adopted by the voters
to 82,292, according to Associated
■by a vote of1 104;706
patches.
;
•
•
on
common
and Sept.
$91,245
charter amendment providing for the
Francisco,
.
1,019,440//
the
of
364,980
v
directors
on
$456,225
■
Market Street Ry., San Francisco, Calif.—Sale Voted—
$304,643.... $229,801' ,/$226,155
„
Power
Mock, Judson, Voehringer Co., Inc.—25-Cent Dividend
"
■'
but before taxes
income
Adoption
,/ Net, profit
Electric
March
1943
>
1942
$1,249,241, ,r. $594,155
.<'« / •
-V-
1,006,256
'<•
"
deprec., int., etc.,
Net -income
Co.—Earnings-^-
February—777;7'':
6 Months Ended
,
Federal
'*Vr^y.7,V
....
Co.—Earnings-
3 Months Ended March 31—
Profit after
per
McCord Radiator & Manufacturing
•
77
share has been declared on the commoty
payable June 1 to holders of record May 12.
This
15 cents paid on Feb. 25, last.
Payments in 1943
$6,
par
compares
were
cents
See
$1,393,265
Loblaw Groceterias, Inc.—Larger Dividend— 47r
dividend of 20
June
on
par
Mississippi Power & Light Co.—Tenders For Preferred
159,
1557.
Marion Steam Shovel
A
at
first
on May 8 assumed the position of Vice-President in
charge of the New York offices of this company and the Manufacturers
Fire, Insurance
1944,
plus accrued interest, $100,000 face amount
of its
mortgage 4% bonds as a continuation of its
policy of partial
liquidation.
The capital stock would be purchased from
Wisconsin
Electric Power Co., the owner of all Milwaukee
Electrlc's outstanding
securities. The companies are part of the North
American Co. holding '
company system.—V. 159, p. 456.
$24,033, at prices not to
158, p. 2471.
Harry F. Legg
p.
stock,
of
sum
15,
Manufacturers Casualty Insurance Co.—New V.-P.—
61
i—™™!™—.
-
sufficient
1021/2
has proposed to the SEC to purchase at
par for retire¬
of its capital stock, par $10, and to
redeem
ment 9,000 shares
2,359
733
'
in
exceed
8,457
2,416
———1
—
—
V
amount
an
4,047
23,622
The company
New
1,431
~5~191
——_—
——<™——™—
credits
Co., paying agent, 70 Broadway,
York. N. Y., will until 1 p. m. on June 2, 1944, receive bids for
the sale to it of 20-year 4%
sinking fund bonds due Feb. 1. 1957, to
7,893
V
To Retire Securities—
The Central Hanover Bank & Trust
■
500,000
10,365
2085
Manati Sugar Co.—Tenders Sought—
;
$450,000
473,000
companies—
———
accrued
Deferred
'c
$450,000
...
-Li.——.„™—™.
accrued
Interest
———
associated
to
"
par)
:——:
1962—__—_______
4s,
payable
Payables
THE COMMERCIAL & FINANCIAL
CHRONICLE
$5,901,212
$3,498,768
1,599,305
1,581,5S7
1,610,252
——
$3,696,227
$4,319,615
$1,888,517
——-—
767,946
767,946
511,963
.•
THE COMMERCIAL
2086
$63,682,492
$60,983,790
3,054,227
'7,102,422
3,032,946'
5,119,885
6,141,000
deposits—126,003
3,457,000
Investments
Other
in road,
investments
Cash
equipment——
——
.—.I*
__
—
___
Temporary
Special
Loans
ment
cash investments
bills
and
receivable—
Net bals.' receivable from
—
___
242~766
217,501
agents and conductors
receivable
3,249,539
4,806,160
Miscellaneous
accounts
Material
supplies--——3,762,087
and
Interest and
,■
receivable-——
dividends
24,829
;
assets.~:_™_™__™—_™
——-
Total
'692,905
1,436,257
3,021,579
Unadjusted debits—;
2,865,891
13,027
10,302
25,052
861,931
Other current assets———
Deferred
:■
$92,825,531 $81,231,417
_
Premium
Traffic
™™___™————
,____■—
balances, Cr
service
car
accounts
and
2,960
.
Unmatured
rents
:
interest accrued —.4.,———;
Unmatured
accrued
liabilities
current
Other
66,745
amort,
Accrued
77,801
216,204
215,914
7
and
road
projects,
defense
of
>
1,461,951
*■
equipments
Accrued depreciation, equipment—
—
Accrued depreciation, misc. physical propertyOther unadjusted credits.,
Unearned surplus
Appropriated surplus——..
———__———
Earned surplus
—— .————;
;___
_
:
66,733
4,439,374
1,318,368
,
liabilities
Deferred
317,656
291,903
9,760,255
———-
Accrued tax liability—_——_
533,679
11,414,080
6,094
10,773,408
6,056
2,315,758
183,170
2,361,662
182,097
695,522
558,802
15,283,626
12,511,475
$92,825,531 $81,231,417
-
-V?159~ ~pTl766~
National Acme
.
Co.—Earnings—
after
profit
depreciation,
Earn,
sh.
per
etc.
on
500,000
and excess profits
provision of $3,236,000 for Federal income
"After
$1.84
$1.45
$1.30
$0.68
shs. cap. stk. (par$l)
4
.
$921,133
"$726,885 •/
t$649,849
t$341,445
...
provision of $5,601,000 for general contingencies, pcstwar
adjustments and Federal income and excess profits taxes,
tAfter
$2,786,000 for Federal income and excess profits taxes and contingen¬
taxes.
f After
"
cies.—V.
'
158,
2583.
p.
National
Lines, Inc.—To Redeem Stock—
City
tional's
,
As
7
and
Shs.
,
taxes
215,794
*$187,350
Net
and
"On
share—™
64,392 shares common
National
Power
&
$70,667
$0.80
$212,196
V
$3.01
$150,797
$2.05
$200,742
$2.83
taxes..—
per
•Earnings
•
v'/// 1941
1942
1943
1944
profit after all chgs.;
deprec.
.
■Earnings—
(& Subs.)-
National Paper & Type Co.
6 Mos. End. Feb
stock (par $1).—V. 157, p. 2254.
Co.—Annual Report—P. B.
Light
Sawyer, President, in his remarks to stockholders, states:
:
'
Federal Power Com¬
Light Co. constitute
the principal matters to be settled before final distribution of National's
assets to its common stock holders.
■
7:-V// ,// ■/ 'v..'
Prior to the commencement of the SEC proceedings that resulted in
the
dissolution order,
the properties of certain subsidiaries of the
company,
notably Memphis Power &
Light Co., Tennessee Public
Service Co., and the electric properties of the West Tennessee Power
,& Light Company,, were disposed of under sales forced upon such
companies by the fact that aided by government gifts and loans,
competing municipally owned systems were being built in the ter¬
before
with
that
respect
pending
mission
to
and
Commission
Pennsylvania
the
&
Power
ritory served by these companies.
will
recalled
be
passed
was
when
that
1935, 'this
in
--V:
Lighting & Power Co. owned by
National has been disposed of through exchange for preferred stock
of National, and through sale.
:: 7'':: :.v
In cooperation with this company and Federal authorities, Carolina
The
stock
common
Light
&
.Power
Co.
of
Houston
Birmingham
and
Electric
have
Co.
of
disposed
pending questions raised by such authorities by making certain account¬
ing .adjustments
changes in their capital structures, v
gnd
V,'
of the
.company have
been carried out in cooperation with the SEC, and'
under
the
requirements of the Holding Company
Act and of the
SEC's dissolution order of Aug. 23, 1941.
As a result, the common
.stock holders of National now own the entire company.
They even¬
tually will receive the net assets of the company under such plan
matters
All
and
in
in
form
such
with
connection
the
liquidation
program
approved by the SEC.
National's present plan contemplates, upon the settlement of several
matters now pending before the SEC, the disposing of its assets in the
interests of the common stock holders of the company, under some
plan
to be
Co.
and
As
be
by the SEC.
Pennsylvania
brief
A
approved
may
assets mainly, consist, of -the
These
stpeks of Carolina Power & Light Co., Birmingham ■* Electric
^common
,
as
account
Carolina
to
Power
& Light
(a)
Power
&
148,04!
shares
contribution
fer
Light
Co.—On
Dec.
the
1943,
10,
SEC
of
of
by
Carolina
common
stock,
addition
in
the
to
1,442,609 shares formerly reported and (b) the trans¬
as
a
contribution
to
the capital
of the Carolina
National
by
National's
company,
of
foregoing
steps
The
transfer
the
have
contribution
Carolina
common
interests
been
by
National
stock
simplifying
the
Roanoke
River
was
to
ratio
Carolina
made
of
the
to
of
the
facilitate
common
the
transfer
Co.
The
of
1
National's
148,041
of
distribution
any
shares
of
stockholders of National,
the
outstanding
stock to the outstanding shares of National stock.
Through
Power
consummated.-
the common stock of Carolina to
through
in
Interests
shares
-
in
of
;V"
'
Int.,
excl.
Net
$2,071,337
352,897
317,237
♦76,735
5,631
4,588
4,558
7.169
29,997
324
1,097
19,190
1,375
—
deductions..™
etc.,
30,000
18,000
51,299
62,961
$506,184
$1,080,750
$1,619,902
364,500
income
1,253,172
dividends
Preferred
36,652
$646,519
tax____
income
■Federal
$1,511,142
76,216
1,277
taxes.™
income
excl.
taxes
Other
$531,931
79,440
$762,118
income
tax;
Fed.
overprovision for Federal
capital stock tax applicable to nine months ended Sept. 30, 1942.,
Balance Sheet, Dec. 31, 1943 (Company Only)
credit
"Net
of $77,812
adjustment
after,
Carolina
Roanoke
River
of
original
cost
basis
1943,
as
special
accounts payable, $20,975; accrued interest, $2,115* accrued
taxes,
$102,833; liquidation account—Tennessee Public Service Co.;
$328,738; long-term debt called for redemption, including premium and
(
,
(cash in special deposits)* $197,748; $6
on
June
16,
1943, including
interest
retirement
for
preferred stock drawn
dividends
accumulated
deposits), $243,614; reseive'for losses or adjustments
with respect to capital assets, $6,994,908; reserve
(appropriated from
♦-capital surplus), $281,378; earned surplus (all restricted as to "common
dividends,.and $9,208,310 restricted as to preferred dividends), $12,216,399; total, $120,147,812.
-(cash in special
filed
*
Consolidated Income (Incl. Subsidiaries)
Comparative Statement of
-v.'yv'iT.'' v;/
"//.;>,//v
($6 preferred, 13,048 shares, no par value;
shares no par value),••• $99,734,106; long-term: debt,
5,456,117
common
$25,000;
Power &
answer wqs
cash
Liabilities—Capital stock
:
the Federal Power
filed with it by Pennsylvania
advances—subsidiaries and minor
and
$118,008,298;-cash in banks—on demand, $1,555,227;
deposits, $442,715; accrued interest receivable, $6,419;
dividends receivable—subsidiaries—consolidated, $29,411; other current
assets, $757; deferred charges—liquidation account—Memphis Power
& Light Co.,
$2,393; reacquired capital stock (1,048 shares $6 pre¬
ferred stock), $102,592; total, $120,147,812.
,
investments,
other
-.
.
1
Commission issued
connection with the reclassification of accounts
17,
Dec.
securities
Assets—Investment
1941, the SEC
July,
Lehigh Valley Transit Co.—On Jan. 7, 1944,
was filed with SEC by National,
Lehigh Valley
to
National's interests in
1944.
a
this company ultimately
the benefit of its common
stock holders.
■
will be disposed
'
As
to
,$6,310,872 $18,063,134 $21,110,870.
4,70?
77,800
62,875
Operating income
• $4,762,072
income
(net)„!;•»
9,513
.
Other
Generating Co.—No definite plan has been adopted
for''the disposition of National's Interests in this-company, the com¬
mon; stock
of which is wholly owned by National,
The Generating
7
Memphis
income
Gross
public
Net * int.- to
all the common stock and about one-third of ' the
/
preferred stock of The Memphis Street Ry. Co. * :.:/•• ; :
;• •
The property of the Generating company consists of a 54,000 kw
steam-electric plant located in Memphis, Tenn., and two transmission
lines extending from that City to the Mississippi and Arkansas state
/lines,
Under contractual arrangements the entire capacity of this
owns
company
deductions
other
$4,771,585 $6,315,574 $l8;f4C)934, $21,173,745'
and:-:/
^•'
2,057,479
2,211,803
8,071,579
9,185,453
"
Balance
•
equity
pany
in
The
to
benefit of its common stock-holders. .
■
Illuminating Co. of Easton—Plans are under con¬
the sale or other disposition of. this property.
;
for
sideration
Financial
and
Business
Position
of
.Net
Subsidiaries
Sales—Enlargement of Facilities—The /kilowatt hour sales
largest subsidiaries of National (Carolina, Birmingham
and Pennsylvania) in 1943, totaled 4.247,872,000.
This compares with
3,760,935,000 kilowatt hours in 1942; an increase of 13% . . Total pas¬
sengers transported by System bus and street car lines (not/including
The
Memphis Street Ry. Co., a subsidiary of Memphis Generating
Co.) was 153,278,1.69 in 1943, an increase of 23 % over 1942.
During 1943 about 30,000 kilowatts were added to Carolina Power
'& Light Co.'s power plant generating capacity.
A similar increase in
capacity was made in 1942.
v
•
■ ; ■' ;'/-, / .■.;•"■
Pennsylvania Power & Light Co.'s generating, facilities were in¬
creased
46,250 kilowatts in
1943, this increase ■ having been ' made
.principally at the Hauto plant. •/ •'
•
r/; ■■/:'" T
.
the
i
.
announced.
....
due.
with
due.
1,
$38,250 first mortgage bonds, of
Lehigh Valley Transit Co.. and $230,000 3% %; fifcst mortgage, bonds of . .Carolina Power„& Light Co. and the transfer by that company of a
$5,000 note from long-term debt to current position.'
; v
As of Feb. 1, 1943, $1,000,000 Birmingham.'.ElectriC'" Co. bonds were
redeemed.
On Dec. 31, 1942, these bonds were; .carried by that com¬
of
Pennsylvania
Power
36,652
30,000
18,000
51,299
62,961
.
$1,276,933
.,
Balance
I *
Sheet, Dec.
S.'
1,680,467
16,389,717
(on
Notes
receivable
Accounts
..Divs.
funds
_1
short-term
Materials
Other
300.000
~4"377
5,357,353
86,518
5,99/503
—
6.441,365
consol.™—__
supplies____„_i__/
561,657
443,907
current .and
accrued
assets—
:
•'i/_—/I—'1™—_H—2__—'''
stock expense..™
:
Reacquired securities.
Contingent
assets • (contra)i^r_ii-___i^__i__
Capital
.
5,211
5,388,521
■
Deferred ':debits.
3,461.828
287,043
,
receivable
and
2,387,701
8,525,735
——
securities—-—™-™—
92,500
1,524,383
813,042
securities..™.—_Z—
receiv.—statutory-.sub.—not
Prepayments.
5;953,829
12,477.182
22,500
^_^™'
Government
.31
1943
1942
$ '■/.
■
-$i
430,294,471 430,524,713
V:'
deposits
Working
1942.
periods whether
.j..
banks, (time
U.'
& Light Co.,
$4,727,791 $5,404,811
364,500
1,253,172
over-provision for Federal
fund accounts™——
demand)™^—:
deposits)
—1;'
and
banks
4,588
to nine months ended Sept. 30,
,.
'*
in
106.827
$2,529,909
of $77,812
and equipment
in
•'Other
Debt Retirement
of Subsidiaries—1943—Exclusive of
Memphis Street Ry. Co. which became a subsidiary, of National .-
1943, through the termination of the voting trust-agreement,
•the total long-term debt of subsidiaries decreased $1,123,250; in 1943.
This reduction resulted from retirement of $850,000 2% % serial notes
April
29,997
1,375
■; :
Special
•
Long-Term
The
19,190
1,097
■■
property,
Cash
-
7,169
324
Consolidated
following major maturity will
become
4,558
'-
—
Cash
will
317,237
5,631
''
(.Investment
the
352,897
adjustment
unearned.
or
.'Assets—
Co.
76,216
*76,735
requirements applicable to respective
tFull dividend
Plant,
not occur, until; June,-1960, when',
refunding and improvement bonds of the LehighValley ..Transit
79,440
•
capital stock tax applicable
earned
of National
first, mortgage
the
___
after
credit
-r.
Subsidiaries—There will be no- major maturity of
Power & Light Co.. until Dec. 1, 1945,
bonds of Lehigh Valley. Transit Co. become
It is .expected that these bonds will be . retired f before maturity
the proceeds of the proposed sale of the Lehigh. Valley Transit
steam-electric station to Pennsylvania Power & ^Light;.Co.'i. The
direct .subsidiary
surplus
dividends
Balance,
Bond Maturities, of
.a
/when
$5,856,246
tax_™_.
•
■.. ■•
$5,158,183
deductions
income
"Net
$2,555,656
__™-_™™;;™^-,i
other
&
$5,749,419
381
™__™_____;—.
Preferred
Hearings before the Pennsylvania Public Utility Commission'in the
general rate case brought against the Pennsylvania Company by the
Commission were concluded
during the year;No,-decision - has/yet',
been
income
/Other' taxes
Int.
$5,749,419
$4,774,939
383,244
1,277.
taxes-™
exclud.
taxes,
Federal
$4,774,939
$2,468,189
87,467
;
_™__™___
excl.
Expenses,
Federal
••
•
income
Total
three
$2,468,189
/>..v•»
$1,392,151
equity .(as above)™
Other
System
of
''
$1,392,151
,
,
National Pow. & Lt. Co.:
y.
643,035
-
-
-
subsidiaries
Edison
5,529
mi-
of com¬
inc.
of
Net
disposed of for the
$6,392,454
$4,780,468
267,148
$1,392,532
nority
$2,725,337
88
$1,392,239
to
interests
applic.
Porlion
.
In
As
1,321,867
■Balance
is available for the use of Tennessee Valley Authority and
operating public utilities until May 31, 1958. . ,•
July, 1943, .the' Generating company purchased from National
3,500 shares of its own capital stock for the. sum of $350,000., Na¬
tional's interests in this company will either be hold,^ or otherwise.
certain
$4,103,771 $10,069,355 $11,988,292
1,378,434
5,288,887
5,595,838
$2,714,106
_™i
divs. to public—
tPfd.
■plant
,
-
75,540
17,541,442'
.
46.262
19,918,043
193,076
193.076
413,378
1,183.266
27,065
40,836
.
pany
,
Co.—In
-
next
National for cancellation of 16,806
shares of Carolina $7 preferred stock as a contribution to the capital
0
Carolina, and the giving by National to Carolina for cancellation
approved
Light
&
certain adjustments should not be made.V An
Co.'s
Co.
proceedings follows:
liquidation
of
Co
Electric
•
1943—3 Mos.—1942 ;/• 1943—12 Mos.—1942
joint applica¬ ;V ' Period End. Dec. 31—
Subsidiaries:
Transit Co. and
Operating revenues
;$21,758,284 $23,307,958 $82,866,103 $91,577,351
Pennsylvania Power & Light Co. for approval: of-;tfte:;purchase from;
Oper. exps., excl. direct'-.-.,." • •■ ••. / '•:.••:,•••'■
■>'■ /■*•'
'Lehigh Valley Transit Co. by Pennsylvania Power & Light Co. of the
11,595,344
11,104,544 41,659,684
43.246,763
taxes
former's steam-electric plant, for $1,900,000.
Approval was, also asked
2,867,505
2,727,138
11,986,778 14.804,307
Federal taxes
of the proposed purchase
by Pennsylvania Power & Light Co. of
983,475
1,225,540
4,879,202
5,584,707
Other taxes
15,469 shares of its $7 preferred stock owned by Lehigh,, at $97.50
1,553,470
1,946,343
6,296,003
6,848,124
Prop; ret; res. approp.
per-share. If these sales are approved by SEC the. proceeds will be
used by Lehigh to retire its first mortgage bonds and a portion of
Net oper. revenues
$4,758,490 $6,304,393 $18,044,436 $21,093,450
its
refunding and improvement bonds.
The proposed- transactions
Rent
from
lease
ot
were
approved by the Pennsylvania' Public Utility
Commission in
plants (net)
.
3,582
6,479
18,698
17.420
/September, 1943, and hearings were held before the SEC in March,
company
value.'
date
order.
Public
the
Power
Total
Pennsylvania Power & Light Co. on' Feb. 14; 1944;- stating; among
things that of the items listed by the Commission $13,276,645
had
been
charged off prior
to the issuance of the Commission's
.
Utility Holding Company
had outstanding $24,500,000
gold debentures
and
279,716 shares of preferred
stock.
All such
debentures
and
other
long-term debt have been retired.
All the
preferred stock of the company has likewise been retired, part through
exchange for common stock of Houston Lighting & Power Co. owned
by National, and the balance through retirement at its liquidating
It
Act
$1,990,017
1,240,857
„••: 916,941
Light Co
& Light Co._i___^_:
&
Pwr.
Expenses,
.
Co.
of for
Progress. in complying with the dissolution order of. the Securities
-and Exchange Commission has reached a point where the proceedings
snow
$1,059
$469,774
1.364
507,548
1.146
;_™'
Comparative Statement of Income (Company Only)
, *
Period End. Dec. 31— /
1943—3 Mos.—1942 V.
1943—12 Mos.—1942
Inc.
from subs.—cons._
$761,737
$444,464 $1,127,898 $1,964,510
Other income
381
87,467
383,244 ?;
106,827
other
Dissolution Proceedings
v
■
Power
related.
as
an
As
tion
v
;
of
Birmingham
,
Show Cause Order in
t
-
T
of
.
by
expected' increase
additional
an
'
1"
"
Subsidiaries—The 1943 income of the three largest
National after providing for preferred stock require¬
ments is shown below, along with other data:
>
'
■/%
.
.■ ■■.■:;■■;:
/•'. ■/• Earns. Per Com.DIvs.
' -'/v: ' Amount
Com. Share Paid 1943
Carolina
on Dec.
30, 1940.
The Commission's staff alleged that
and other inflationary items totaling; $66,526,894 existed
in the plant account of ..Pennsylvania' Power & Light Co. as of Jan/l. ;
1937, and ..the Commission called upon that company to show cause
$0.65
$0.87
$50,000 extra reserve for
in rates of Federal income taxes.—V. 158, p. 2503.
"Includes
effort.
war
Penn.
write-ups
215,794
•/:/:
$0.38
stock
Pennsylvania
Under
$139,707
215,794
$0.63
the
Reports
subsidiaries
&
made
;
215,794
,
to
-'
items existed
in the plant account of Pennsylvania
Light Co.
After hearing, the Commission,, acquiesced in
request that it defer further consideration, of,these matters
pending the carrying out of some of National's plans with respect
; to certain other properties.
Progress in these' other matters has been
why
stock out$4)—
Earnings per share--—
{
1941
$82,722
$136,050
_™
(par
,
inflationary
Power
capital
standing
'
.
■National's
profit after all chgs.
Net
31, 1944; the earnings
(Carolina, Birmingham,
In the 12 months ended March
subsidiaries of National
.
largest
proceedings against Pennsylvania Power & Light Co., National,
Electric Bond and Share Co. alleging, among other things, that
Light
1942
1943
1944
3 Mos. End. Mar. 31—
7
Inc.—Earnings-
Co.
:'•
companies.
the
by
National's
common
to
and
a
Products
Oil
■: *"\
of the thr^e
and Pennsylvania) after preferred dividend requirements but subject to applic¬
able restrictions 011 the payment of common stock dividends, totaled
$4,024,068. These companies are all sound operating companies doing
business in growing communities,
and are contributing substantially
:
started
,.-on
National
which
7;'if,,;7:v'
interests-of the. common/stock holders of National
by the waiving of National's, right to receive the
junior securities for the reason that National .will continue to own
all securities
junior to the preferred stock. /
'
;*
Subject to the consummation of the foregoing and other, trans¬
actions under the order, National proposes to dispose of its interests
in
Birmingham Electric Co. to its own common stock holders.
If
the
common
stock is distributed any such distribution will be on
the basis of one share of common stock of the Birmingham company
for each ten shares of common stock of National.
/, 7
11.
p.
by
.
corporation has called for redemption on Aug. 1, all of its out¬
standing shares of $3 convertible preference stock, par $50, at $55 per
share plus accrued dividends.
The privilege of converting each share
of $3 preference stock into four shares of common stock will expire
'July 21.
^ 7..,
The corporation also has authorized the purchase for retirement of
any outstanding shares of the preference stock from any holder thereof
who may desire to tender his shares.
Such purchases will be made
.prior to July 15, and the company will pay $55 per share, plus accrued
159,
Exchange
and
.
of
•company. Also, the
will not be harmed
The
dividends.—-V.
increase
the Securi¬
Commission
(a); against payments of, common
Pennsylvania • Power' & Light Co. in excess of 25%
of
the
net
earnings 1 available • for such dividends from
and after
June 1, 1941, and (b) limiting payments of dividends on common stock
of Carolina Power & Light Co. to $600,000 per annum plus 25% of
the amount by which net earnings- of Carolina available for common
•stock may exceed $1,250,000 per annum.' The foregoing restrictions
on;."common dividends are subject,; to modification/ either upon the
SEC's own motion or upon approval by SEC of1 any application made
bonded debt and thfe preferred 7 stock liability
equity (and consequently the equity of Na¬
holders) in the income, of ;the ,. Birmingham
of
reduction
The
will
int.,
in effect orders of
Restrictions—There are still
Dividend
dividends
stock.
common
1941
1942
1943
1944
3 Mos. End. Mar. 31—
Net
/
of the same year.
Stocks by
of
Retirement
ties
the
Electric Co.—After the holding Of several formal
■hearings on a program for certain revisions In "the'capital structure
of Birmingham Electric Co.
the SEC on March' 21, 1944,-* approved
"a plan
under which National is to waiveVits>right«toVreceive. vaddi*
:tional
common
stock of thp Birmingham company... and 'securities
junior to the preferred stock of that company, ,nii;the total amount
of $2,384,540.
National also is to exchange 800,000 shares of common
stock of the Birmingham company for 545,610 shares .(entire issue)'
of new common stock of that company, iri order to facilitate any dis¬
tribution of the common stock of the Birmingham company made by
..'National to the holders of its common stock.
'7.;'.'
Under the
approved plan the Birmingham'company is to reduce
its plant account by $2,266,712. in order to restate its opening plant
account as of April 1, 1924, on a "system cost" basis./, Among other
-steps to be taken by the Birmingham company are (a) ■ the transfer
.of $2,950,000 from earned surplus to retirement reserve,
(b) redemp¬
tion of $1,200,000 mortgage bonds and 10,000 shares of $7 preferred
stock, (c) declaration of a common stock dividend of $368,000, and
(d) amendment of its certificate of incorporation to provide voting
rights for preferred stock holders in the event of.-certain dividend
defaults
and
in other circumstances.
In approving the plan thp
SEC removed its ,' restrictions on the payment, of dividends on, the :
coihpany mature Oct',
Subsidiaries—-Carolina Power & Light Co.
received in 1943 from National 16,806 shares of Carolina's $7
pre¬
ferred stock, and retired same.
Birmingham Electric Co. reacquired
.501 shares of its preferred stock which it proposes to retire.
Lehigh Valley Transit Co. reacquired 1,013 shares of its 5% pre¬
ferred stock and 350 shares of its common stock. Pennsylvania Power
& Light Co. retired 5,606 shares of its $7 preferred stock and 3,362
shares of $6' preferred stock.
Of these shares so retired 585 shares
of the Pennsylvania $7 preferred stock were shares reacquired in 1943,
//'•>:'•■/■;
common.
Memphis Street Railway
$515,500 series B bonds,
period mentioned $63,219
equipment trust obligations. The bonds of this
1, 1945, and the franchise expires in November
V
to Birmingham
As
3,363
common
one
adjustments were made by Carolina as of Jan. 1,-1942r
in a reduction in the plant account*of >$18,648,438;;v:
Book
resulted
2.00Q
.
■
2,133
of
National,
36,870
37,686
—
unpaid—:———™—
matured,
Dividends
1,638,310
v
.
matured, 'unpaid—
Interest
10,480
598,820
2,016,312
basis
21,296,875.
2,925,586
■
—
payable———
payable
wages
accounts
Miscellaneous
10,480
19,216,700
————-u——_
debt
and
Audited
stock
capital
on
Long-term
$25,600,000 $25,600,000
such distributionwill be on for y'each six shares
common, stock holders,
share of Carolina
National's
Liabilities—
Capital stock
This
.
127,108
250
——
COi
by
Roanoke
in
April 1, 1943, and Jan. 1, 1944,
acquired $104,500 series A bonds and
company retired in the nine months'
Between
ledger value of National's investment in Carolina was
$1,575,500, this being the amount at which the invest¬
was carried bri National's books.:; National's' invest¬
ment in the Roanoke River Power Co. was made many, years ago ifi
anticipation of the development of a power site which would event¬
ually be used by, or, for ..the benefit of the Carolina company. Part of
the
property consists of a transmission line used by Carolina in
furnuishing certain service to another utility.
This transaction: re¬
sulted
in transferring to Carolina the value in the Roanoke River
property, and yet retained the equity interest of National's common
stock holders therein.
The transfer also serves to simplify the ulti¬
mate distribution of National's assets to its common stock holders. >7
In
approving the foregoing transactions the SEC a removed its re¬
quirement that no common stock dividends be paid by Carolina", with¬
out
15
days'
advance notice
to the Commission. '.Remaining SEC
restrictions on the payment of common stock dividends, will terminate
upon the distribution of the common stock of .Carolina , by National.
In
the
event
the
common
stock of. Carolina' is distributed to
increased
1942
1943
the
Co,
Power
Sheet, Dec. 31
Comparative General Balance
Assets—-f
Monday, May 22, 1944
CHRONICLE
& FINANCIAL
as
deposited
a
current liability and funds
with the trustee.
fp^/heir.. redemption had been
,■
Total
________
—
—.
488,735,123 489,318,384
K
;
1
■
■
'
.'
•'
.
,
THE COMMERCIAL & FINANCIAL
.Volume. 159; Number 4283
Inabilities—
>.
190,160,250
maturing
Matured
called
1,550,868
for
850,000
interest—______
240,926
payable y_—j-//-*Customers'
deposits
!
2-———-
5,000
and
855,075
.,18,184,951
2-494,809
328,738
326,474
_
Taxes
•
accrued
Interest
accrued
.Liquidation
—
—
S,
P.
accounts—Tennessee
Co..
Other current and accrued liabilities™—
.
Deferred
credits '
;; Reserves
„
60,380,024
1,394,345
27,065
19,148
20,668,964
500,721
surplus
Earned
interest—
surplus, excluding minority
surplus (special)—,!
Earned
f
—j—
Total
—
„——
159,
r.
G.
The
-
H.
PA
Driscoll
155,
923. •'
p.
■>
'
/ ■
/'A
*
000
ft. in the corresponding
cu.
4.98'%
week
a
New England Power
The
Association
The
above production of 109,697,-
ago.-rr-V. 159, p. 2011.
year
10
'.'//.■
..territory
for
the week
ended
kilowatt hours
13,
May
1944,
available-for-
59,842,169,
as
With 59,999,388 for the week ended May 15, 1943,
..
steel
compared
The directors
the
-
a
capital
Payments in 1943
declared
dividend of
a
$1.25
share
per
be
1,330
1,330
owned
owned
bottom
bidders
after
1944—3 Mos.—1943
$2,100,474
-
Fed: inc.
charges.^—
&
of
the
in
Bank
&
similar
«
<
Net
•
profit
and
each,
payable
will
Earns,
(
^-V.
will
per
share-
com.
H.
Wermeman
and
Wenneman
& Ohio,
1940,
50-ton
all-steel
Trust
Co.;
Stuart
&
of
1,267,842
760,700
past
financial
Fed.
Co.
$733,835
j
portant
$1.18
-
18
-Total
nities
Salomon
until
his
p.
in
railroads
activities
Wenneman's
Mr.
which
had
to
2%%
Taxes,
are
Fed.
1944_Month—1943
1
1944—4 Mos.—1943
&
$8,341,803
$8,384,452
Bonds
are
1944, and
subject'to redemption at
1,
107% lor the first five years to
The
stock
preferred
is
due March 1, 1974.
scale of prices ranging
a
at
$107
per
2,132,200
exc
1,291,813
582,417
789,535
2,352,570
3,072,174
income
—
funds
to
of
.
First mortgage bonds,
Cumulative
.4%
pfd. stock
series
Common
3%
series,
•
W.-
of
8,333
h': 8,333
33,334
due
/'"■ 781,202
2,319,236
3,038,841
President,
17,
May
on
i
/
f
($100 par)
(shares)
(no
from
Superintendent...
discontinuance
simultaneously
of
the
appointment
announced
office
by
announced
of
the
the
V.-
A
of-
Power
gas
and
terchanged
tion
of
Crll,875
Cr332,845
319,177
321,866
475,846
Provision
259,762
for
Federal
(other
than
income
Federal
1941
taxes
.518,280
Other income
476.956
(net)
490,371
$1,704,345
,
$1,597,456
51,781-
51,071
•
Gross .income
i
Income -deductions
$1,755,416
779,666
•>•
■
:
$1,649,237
-..-'700,130
of
to
two
$975,750
v.
*
effect
and
•
•
tion,
in
utility
operating
company- engaged
interest basis for the computation;--1
rates on new life insur¬
after
June
1944,
1,
it
was
interest
time,
some
future
range
available
from
since .the
and
cannot
be
prime
investments
in
•
for
policies,"
new
plans
Mr.
clearly
7,016,997
36,264,168
36,449,826
4,077,102
4,168,117
16,455,819
17,961,613
4,825,782
4,736,863
19,808,349
18,488,208
955,313
3,821,250
3,821,253
3,781,550
15,987,099
14,666,955
pfd.
on
711,682
produc¬
there.: will
that
life
insurance.
the.
security
of
the
It
its
gross
operating
revenue
derived
was
from
its
electric
,/ U.
1899
to
several
the
corporations,
Construction
and
Of
interconnected
others.
.provides
approximately
and
parts
and
j
Company
of
new
97
of
services
boroughs
New
by
the
and
expanded
facilities-
its
(including
rehabilitated
operations through
its Gilbert Power Station)
-
■
electric
1,800
and
Jersey.
or
square
gas
miles
townships
in
The
company
service
which
the
or
formerly
owned
.
within
includes
western
1
and
city,
.an
6
more
area
share
per
on
3,870,470
-
stock
;
$0.45
$0.44 '
$1.86
$1.71
was
cost
/
,
.
insurance.—V.
159,
with
of
85,973
502,000
703.000
132,575
bank
disct.
loan
&
notes
exp.
;
102,259
702,394
1,561,651
359,951
debentures——
on
13,662.
Balance
32,160
$14,862,665
preferred
on
for
of
a
-
/
3,821,253.
and
surplus $11,041,415 $10,612,476
stock——™'/ -: $1.29
$1.24
common
.
$14,433,729-
3,821,250
companyy.
dividends
of
1767.
p.
stock
common
share
per
159,
;
--•-•
Northern States Power Co.
Period End. Mar. 31—■
Operating
limitations
i
Maintenance
for
&
1944—12 Mos,—1943
875, 925
Fed.
•
1,792,149
4,672,500
5,493,101
1,581,734
1
4,513,750
5,477,774
State
taxes
for
(& Subs.)—Earns.
349,256
1,157,500
1,412,231
Fed.
income
Prov.
418,152
1,200,000
than Fed.) : : 1,449,730
Depreciation
Taxes (other
Prov.
(Minn.)
1944—3 Mos.—1943
$12,691,693 $12,011,728 $47,257,375 $44,511,907
4,488,054.
4,025,835
16,318,934
14,861,232
revenues
Operation
1558.
p.
tax
on
-
1943
$17,589,414 $17,841,006
1,016,167
1,008,207
taxes
Amort,
1944
142,480
income
Earnings
be an increase in the ultimate cost
stated that the premium rate was a measure"
the guaranties of the. policy rather than a
the
of
(Company Only)
$17,446,934 $17,755,033
Interest
••/:':////"
Net
K.
155,
604.
P.
/
•/
:
■'/:"v
=
901,275
3,706,490
3,742,625
1,019,925
4,743,180
3,603,195
excess
tax
1,235, 925
income
oper.
Other
income
Gross
$3,145,706 $10,531,021 $10,761,597
28,826
20,384
$3,052,733
——
deductions
Balance
$3,023,907
$3,166,090
________
income
Income
/
-
130,849
92,594
$10,661,870 $10,854,191
1,055,410
1,069.255
4;213,174
4,314,556
$1,997,323
___
_____—
$2,096,836
$6,448,696
$6,539,635
Pay!
/( interest
income
Net
Trustees-
S.
Palmer," Loomis
and
the bonds
on
Sawyer
of the road petitioned the
16 for authority to pay one
by the firsthand refunding mort¬
this petition for May 29.—V. 159, p. 2011.
District. Court'-at -New
Hearingrwas set
-
Haven
,
Earned
May
New York Shipbuilding Corp.—Operating Statistics—'
Statistic3'0n>operations, iJan. 1, 1944, to March 31, 1944, follow:
: *
X *,Gross value : of /undelivered .contracts at March 31, 1944__$663,382,655'
Gross
undelivered
I
contracts
to
March
hing
•
Total
on
on
certain
New York,
Funds—
Ontario
&
and
;
conditions.—V.
Western
44,543.185
contracts .subject1
3,548,440
4,3:90,340
3,111,906
$5,631,224 $10,582,831
1,375,000
343,750
$9,595,335
-
159, -pp.
1767,
878,
•
1.375.000
1,100,000
Cr2,866
•6,790,000
16,869
3,900,000
$4,190,340
$2,400,963
$4,190,340
129.995
/ /
$2,400,963
740, 452.
,
Northeastern
Insurance
Co.
of
Hartford—Four
Directors Elected—Suits Withdrawn—
:
On
Ry.- -First Mortgage
-
v.
•
158, p.-2584.
May
5,
nounced
on
1944,
the
Insurance
May
12.
conflict
Co.
Four
was
between the Babson
satisfactorily cleared
resignations
.
and
the
it was
an-,
group
up,
New
the board of directors,
elected to fill the vacancies
from
accepted, and the following men were
Dwight G. W. Hollister. President bf Babson's Statistical
Inc.; Leonard Spangenberg, Vice-President of that or¬
ganization: H. Cylde Baldwin, insurance expert of Babson's Reports,
and William L. Less II, member of the Stock Exchange firm of D. H.
were
.
thus created:
Frederick R. Lvford; trustee for
that
an
application
will
be
District
Judge of the United
York/for an'order directing
in
end
of period
-V,
343,750
3,590,000
Cr2,866
items—
surplus,
Northeastern
/
56.205.
$6,483,429
.
contracts at March 31,
subject to<-adjustment;
terms
$6,331,847
—
$5 pfd. stock-,.
com- stock—
direct
Earned
487,645,944
«Estimated' contract, prices
to:cancellation
56,205
$6,392,491
period—1/_4,348,575
surplus
on
Miscell,
175 736 711/
on
Billings fpr three months ending March 31, 1944
/•"
14,051
$2,082,784
/
surplus,- beginof
Divs.
31,
■
1944 v.
/
.
account ,of
on
value,of/uncompleted work
$1,983,272
'
secured
-4.
Billings
f/1944
14,051
v
"
towns
common-
:
dividends
Divs.
;;
.area-
northwestern
territory provided with one or
comprises about 22%'of the total
by
•
both
for
955,312
Interest4
—v.
With, the excep-.
own
properties
stock____ ;.
debentures
2,/2%'
a
Harrison, .said.
new
"
business
approximately 5,4% from its gas business. '
development of the company has occurred since 1923,during which period the company acquired the operating properties
The principal
of
surp.
by
necessarily
behind
/.year's interest-on
purchase, transmission, distribution and sale of electricity and
purchase, " production, transmission, distribution and sale of
ga$/! 'For the calendar year 1S43 approximately 94.6%
and
'
&
Subsid. divs, & minority
-the
ef
divs.
;
8,902,884
_______
—
for
Balance
time,
New York, New Haven & Hartford RR.—Seeks to
manufactured
/
______
8,904,980
revenues—
income
Balance
rates
this
at
policyholders
policies will.be higher..
insurance which will be issued
of
interest
of
course
foreseen
acting in the best • interests of its
the 3% • interest': basis in effect .since
Interest—
71,477'
$1,895,998
the
1,228,000
1,253,389
.
29,432,829
Dividends
has
$949,107/ $1,184,316
principally
7,896,949
2,223,200
sale
on
premium
and
on
,
public
8,666,920
346,000
.
6,690,857
Other
482,464
Bisiory and Business—Company ' was incorporated in New Jersey on
Dec. 14,.JL915, as, New .Jersey Power
Light Co. and .changed ..its.
corporate name to the present; form on Dec. 2, 1926.' Company is .a
!
3,478,600
676,200
on
Federal ..income
and
age
gage.
Net income
4,155,740
________
Interest
Corbin; President of the Fidelity Union Trust Co. of
N. J.; Peter H. Tuttle, President of .the Tuttle-Dovey Coal:
Mining Co.; E. Donald Sterner, President of the Sterner Coal & Lumber
Co. of Belmar, N. J., and Shelton Pitney, head of the law firm of
Pitney. Hardin & Ward ;of Newark, have been elected directors.—
/ :
1
9,020,195
14,661,809
12,448,247
Expenses
succeed
/'Newark,
$1,824,521
v
14,806,171
12,863,853
*:
-:
■;/„>/.
.
is
from
'r Horace
.
V.
u_
11,044,604
4,061,514
3,072,430
'.New York & Long Branch RR.—Directors Eltected-—-;
467,440
472,685
318,081
2,189,233
4,114,850
■>' 3,111,800
29,573,311
profits
1,842,480.
income
Operating income
,
for
long
basis
measure
355,030
;_
Depreciation of property, plant and«
equipment
^
2,772,243
inc._
1,638,173
Income
$5,082,882
in-
(net)
Maintenance
Taxes
declining
the
of
rate
company
interest
'
•
56,512,908
Earnings, 12 Months Ended March 31
amount, there ..will be an, increase in the premium
rates, .but it-was pointed out/that the increase. in premiums does not-
55,978
purchased
67,396,565
7,266,807
Earnings
*
and
15,759,133
1,573,418
Total
mean
1,985,887
148,014.454
17,777,265
•
30,000-
1942 :
$5,171,782
1943
165,090,409
revenues
/common
Vice-President, of Opera-/
of the road.
87,500
2,031,288
,
the
changing
as
$5,400,529
revenues
taking
/'j: The: cash values of the
Summary of Earnings for Calendar Years
Operating
retired.
,
of
Operation
^
41,019,008
7,329,466
oper.
Bal.
management
«
cash/values,
reserves,
contracts
over
$9,000,000:
150,000
1944—12 Mos.—1943
44,812,358
/
.
is adopting at 2%%
company
policy
heen
•
30,000
(shares)
par)
(& Subs.)—-Earnings—
1944—3 Mos.—1943
16,813,517
formerly General Superintendent and Mr. Hales As¬
Their advancement to higher posts-
was
General
/ "Since
65,899
(shares)
stock
to
17,262,396
Diys.
/
announced on May 16 by. George L. Harrison,. President. These changes,"
however, will not affect any policies issued prior to June 1,. 1944.
Outstand'g
Unlimited
1974.—
relating
4,845,291
Gross
33,333
574,084
inc.
Davin,
Peters
This
from
.
item
4,874,794
Deductions
Hales as Assistant to President and A. D. Peters gs Assistant.
Manager of the road, both with headjuarters in Cleveland.
S.
ance
;
Authorized
-
$l,553,ofa»
post-war
loss
Non-oper.
other
&
profit & loss—'
John
Co.
profits' taxes
for
4,616,229"
of
1, 1973.
share if redeemed
Capitaiization After Financing
a
Net
8,173,300
1,437,373
Adopts 2Vz% Interest Basis for New Policies—
./
prior to April 1, ,1949, and thereafter at $105 per share.
is
profits
exc.
6,668,500
tions,
100 beginning March
redeemable
commu¬
tlpn ..reserves
bid
are
200
be $51,825,504.
taxes
inc.
adjustments
$33,995,334 $33,271,217
bonds:
March
dated
ordered
of property
Approp.
for
deprecia-„
3,764,258
results
.
a 4.10% dividend; Lehman Bros., 101.364'
dividend, and Drexel & Co., 100,089 for a 4.20% dividend.
4.20%
a
to
,
___________
State
-
322,654
Mr.
Halsey; Stuart & Co,.; Inc., 100,7699 for
Lehman Bros., 102.734 for 3s; Drexel & Co., 102,079
White, Weld & Co., 101,819 for 3s. For the preferred stock:
Bonds
found
.
other than
&
Portion
1,629,500
inc.
sistant
White, Weld & Co., 101.13 for
for
than
more
were
•
coupon;
for 3s, and
write-off
.
Approp.
do
1,171,396
dividend.,
a
the
2050.
Fed.
Earnings for March and Year to Date
Meyers,
4%
In
Maintenance
General
of
a
serves
Counties,
$43,765,921, the Commission
■
938,545
jF.
on
for
York
^
•
357,171
,
:; First Boston Corp. and associates won the award of bonds
100.179
which
compgny,
New
—
; :
.
1,,
Vice-
to
.
ct
the
of
10 western
Operating revenues-///
Operating expenses
May
on
have
.
bid
—
assets
in
North American
May 4
on
—V. 159, p. 2011.,
.
• '
'• '•/•/
Inc.; Kidder, Peabody & Co.; F. S. Moseley & Co.; Harris,
& Co., Inc.; W. C. Langley & Co.; Hornblower &
'■■•^ New York Life Insurance Co.—New Treas.—
Weeks; R. W. Pressprich & Co.; G. H. Walker & Co.;
Richard K; Paynter,
Jr., has'been elected' Treasurer to
Whiting, Weeks & Stubbs, Inc., and The Wisconsin Co. V
Alfred H.
a
upon other determinations affecting the other com¬
system with utility assets of close to $500,000,000."
& Ontario Power is required to adjust its plant"
the amount ordered, as of Jan. 1, 1938.
•
Period End. Mar. 31
of the two other
advancement
Changes In Personnel Announced—
preferred stock at $101.50 per share. Other
underwriting group are: Blyth & Co.,
the
159, p. 2050.
Co.—Write-Off
the
Included
Hall
for
822,749
$302,068
property which had been retired and which the company had written
off voluntarily.
The order disposes of the item as of 1938.—V. 159.
phases of'railway management.
appropriations
members of the
a
810,405
$313,067
said, represents original cost of
electric plant in service after adjustments.
The company's initial book "
figure on such original cost was $48,452,081.
the President of the Chesa¬
and Pere Marquette
capacity
years
income
Sinkirig
$0.82,
:
„
.
:
Lockport
~
of
Net
$507,142
in
accounts,
*
:j
railway taxes™_
Net oper. income—
shares of 4% cumulative preferred stock (par
The bonds were offered at 104% and accrued in¬
3s. and the stock on
1,393
$1,124,818
bearing
panies
cars,-
%.uiy.yyy y:,y ;yyyy;y yr
Commission, y',v*.-.
Other
$9,000,000 first mortgage bonds, 3% series, due 1974, and
as
2,682
New
v
bids
$1,123,425
$1,123,473
—
deductions
Niagara,
_
was elected Vice-President
March, has been advanced to
and Pere Marquette railroads,
in
made Assistant to
that
in
taxes
•
$0.29
'
of
Cleveland, who
Ry.
Nickel Plate
Period End. Apr. 30—
New Jersey Power & Light Co.—Securities Offered—
The First Boston Corp. and associates on May 17 offered
103.699
2,050,
$1,120,790
income
The
■
'/Other
5,662
—.
York Public Service Commission has ordered a
$4,704,045
write-off of original property cost
by the above company in the first
original cost determination for a large operating company in the Niag¬
ara-Hudson Power system;
v.
Findings in the proceeding, the Commission said, "may have an im¬
■
.
1,100,600
.
-
in
15
box
Inc.,. Chicago;
Co.,
'
the
For
Gross
1,834,435
•
terest and the
taxes____™_.
•Niagara, Lockport & Ontario Power
Of Original Property Cost—
,
Ohio
&
was.
continuing
Bal.
30,000
$100).
92,727
20,567
173,576
••
Note—No provision
necessary for excess profits tax.—V,
■
Peoples-Pittsburgh Trust
President.
$7,179,735
$182,663 r:
Income
be
300
both the Nickel Plate
peake
y
273,930
$0.23
earnings
"Net
;
mature
May
'
Cleveland
Pa.;.yHalsey,
posts on
Mr.
,
456,593
159. p. 1158.
357,299
96,566
21,494
168,172
,
taxes
'Total/income
of
payable semi-annually
.W y-.'
the -purchase of 500 50-ton all-
part
cars,
Co.,
$2,260,632.
by the Interstate Commerce
■
$146,913
stock
Net
221.714"
—.—367,685
™
Capital
be¬
;
1944,
Approval of his application to .serve as Vice-President
.
$9,435,321
220,372
219,829
property taxes
and'
on
Trust
15,
y
finance
were:
Chesapeake
.
1944- -12 Mos.—1943
$2,11Q,874.
367,285
profits
exc.
./..-taxes
1,140,587
New Vice-President Elected—
William
on
sales
Net
$3,131,945
1,255,242
taxes-
and
1943
$3,255,442
-
expenses
income
Denis
.
stock,
Period End. Mar. 31—
Net-
Subs.)—Earnings
1944
revenues
Federal
NY
Gas
made
was
$180,000
Interest
gondola
approximately
Newport Industries, Inc.—Earnings—
h.
not
SociaUsecurity taxes
by
by
Associated
,
with
1
or
Excise-taxes
& Hutzler and associates, New York; Harris Hall & Co. (Inc.),
associates,
New York;
Paine, Webber-, Jackson & Curtis,* New.
York; Otis & Co., and associates, Cleveland, and Manufacturers Trust
Co., New York.,
"
May 16 declared a dividend of 37 % cents per share
payable June 15 to holders of record May 29. A
similar distribution was made on March 15, last, and in each
quarter
during 1943.—V. 159, pp. 2011, 1289.
/A// .>/•/
1
Real
and
"'
the capital
V
y-y
Bros.
as
Sept. 30 and Dec. 31, $1.50. each.r—V. 159, p. 2011.
The directors
company's trustee
Other income
May
of
15.'
May
Co..VPittsburgh,
:
Newmont Mining Corp.—37J/2-Cent Dividend—
.
should
coupons
the
Depreciation
1,330
1,330
component roads-of the Chesapeake & Ohio Lines was granted
on
on
trustee
to
New York Water Service Corp. (&
Operating
.y-y; ; ;
dated
1945.
in
' issue ."-will
new
iOther
on
payable June 3d to holders of record
with $1.50 per share paid on March 31, last.
follows: March 31, $1.50; June 30, $1.25;
were
is
are required to show
cause
Bankers Trust Co., as
said
now be
determined^
validity. whatsoever either as against the trustee
said Bankers Trust Co.—V, 159, p. 1867.
any
properties
Operating
.
$100,
par
This compares
June 9.
and
16
May
on
stock,
and
hopper
cost
will
starting
15
Nov.
to
New England Telephone & Telegraph Co.—$1.25 Div.:
v
!
of
".y:
the Central National Bank of Cleve-,
installments
annual
year
'vy The
its/!
decrease of 0.26%
A* 'Comparable figure for the week ended May 6, 1944, was 59,514,476,'"'
u a
decrease of 0.69%
over the corresponding week
last year.—V. 159, ;,p. 2011.
...
v
certificates
equal
each
Association—Output Off .0.26%—
reports.number of
turn
therein
why
to return said funds
Years Ended March 31—
-
land, and ^ the Lincoln-Alliance
Rochester* N. Y.
on
<
in
trustees
It is understood that the bid
half oLitself and
.
or
stock
Thorp,
2011.
.
Awarded—The companion
1.79%.
'•above production of 11,852,117 kwh. for the corresponding week a year
ago.i:/.!/
//.;
y "
"/
//••.. --v...
Gas output for the May 12 week is reported at 115,165,000 cu. ft.,
ft.,
voting
L.
p.
"
falo, N.Y., on their bid of 99.777-for 1%% obligations,
an interest cost basis to the company of
approximately
*:
;
-
V-For the week ended May 12, the Association reports electric output
'of 12,155,980 kwh;
This is an increase of 303,863 kwh., or 2.56 %V
increase of 5,468,000 cu.
159,
without
of ,the
issue of $1,800,000 of .serial equipment trust certificates
of 1944 to Manufacturers and Traders Trust Co., of Buf¬
/'/ New England Gas & Electric Association—Output—
an
Willard
place
holders of said
or
interest
any
and
required
first mortgage
of certain
coupons
bonds and all
persons
and the redemption
1884,
why said bonds and- said
be
to
1,330
is
company
have
date
not* be
.
'
V 2,000
2,000
375,000
the
to
above
and
2.100
562,000
562,000
375,000
of
the
Chicago & St. Louis RR.—Equip. Trust Is¬
May 11 awarded, sub¬
ject to Interstate Commerce Commission approval, an-
dividend of 25 cents per share on the
.'/'/.;; • ■ • //' ' ♦
.
whose
Co.
and
Corp.—V.
stock
common
claiming
should
1,
owners
5,310
' 625,000
4
The
New York
■
similar
L v.
Utilities
NJ
J.
the
•—•_.
Sept.
-
5,970
5,970
redemption and payment of 10 outstanding
bonds dated
thereto annexed.
Pfd. Shares
•
1,688,000
1,500,00 0
effect
6%
488,735,123 489,318,384'
—
a
Company
Control—All
Electric
stock, par-$5, payable-June 15 to holders of -record May 12.
distribution was made on March 10,
1942; none since.—
common
i A
declared
directors have
•
Bonds.
$2,188,000
'
—
Weeks-:
&
"Wisconsin
/""/..
(Herman) Nelson Corp.—Resumes Dividend—
•
Inc.____
•
2087
to
the
bonds
.
.
,
_—375,000
Pressprich &'Co
A
:
37.5,000
Walker &
Co„,i„,...^„,ir;
375,000 '
w.
sue
v
of
the
principal amount of bonds and
stock underwritten by each are as
Whiting, Weeks & Stubbs Inc.„___—
9,422,248
500,721
;'/////.^
1288.
P.
——
/
•/A
5,399
Capital
A Hornblower
v
:/
of
the
Hall & Co. '(InC".)^*^-,—,
Langley & Co._,^__™^.__™_^
C.
W.
86.251
.
and
preferred
—
40,836
16,522
basis
the
on
underwriters
First! Boston ,Corp.™_—___™—
Harris,
671,978
/'.
1940,
several
Kidder, Peabody & Co—__
F. S.' Moseley
Co.A_—:___™™_—
-
58,317,417
of. construction™——_—
aid
of
shares
Bi.vth & Co.,
343,513
6,131,025
.^Contingent liabilities (contra)—™__,
'- Undeclared cum. divs. on
pfd. stk. cf subsid.—
of
as
the
A!/-'
The
2,560,778
375,139
—■
™„_,_—
Contributions in
264,660-
5,510,298
——'—'
preferred" sto.ck
of
of
"-V
912.113
14,012,530
debt
population,
names
follows:
,
5,000
long-term
Notes
•
the
and
number
.;
850,000
1,118,340
243,614
—
its
Underwriters—The
3,891,695'-
long-term debt—/.'
redemption
State,-.and
Federal census,1,is estimated by the company, at approximately 179,000.
3,321,723.
declared
Currently
the
191,296,000
2,600.613
Dividends
Securities
.
132.557,201 197,010,524
—
/—___
-
■
-
.
.'Capital stock
Long-term debt
Accounts payable
of
CHRONICLE
the
hands
of
Bankers
made
the.company's properties,
on
States
May
for
24
the
the withdrawal
Trust
Co.,
as
before
Southern
and
trustee,
.announces
Murray
District
disposition
at
present
Hulbert,
of
New
of funds
retained
Organization.
Ellis
& Co.
Representatives were elected to the executive and finance
committees, and the Babson group were provided with a list of stock-
holders,
and
and
all
ment
all
other
interests
are
working together in harmony,
159, p.
losses
withdrawn,
Suits have been
desired.
statistics
now
concluded.—V.
—V.
Richard
elected
C.
of the board of
159, p. 740.
Operating
Northern
'The SEC has approved the merger into
Hydro-Electric Power Co.
Northern is the
Hydro, and all the properties
Approp.
377,527
5,758
375,563
Prov.
228,900
215,000
23,096
1,480,980
- 907,100
617,700
430,250
1,851,150
32,400
30,000
130,400
Prov.
of this
output
"'After
tax
tax
State
•
income
$4,466,243
$997,460
$1,030,813
$4,450,319
924
771
3,837
2,605
$1,031,737
$998,231
484,362
$4,470,080
$4,452,924
1,841,769
income
_
deductions
451,982
158.
Uncollect,
oper.
Operating
rev.„_
Operating
expenses
Operating
taxes
Net
—V.
159, p.
Operating
income
the company
1941.-T-V. 159,*
1939, and, in addition,
1939, and on Dec. 26,
15,
.u'
William
accruals—
res.
-
„
shares
per
159,
1943
Corp.—New Director—
has
Kilborn
T.
elected
been
to fill a vacancy
Mr. Kilborn is President
director
a
by the death of Rodman E. Griscom.
879.
Co., Bridgeville.—V. 159, p.
share
550,000
$3.34
551,310
$2.86
outstanding
common
3,276,682
2,429,860
3,029,944
2,167,877
.
TYrnfif.
taxes,
"'Earnings
etc.™.
share
per
the
'On
1942
1941
.$1,622,128
$10.81
1943
$1,316,523
$8.78
$1,689,379
~ $11.26
y
Hpnrpp
Federal
1451,
p.
1944
$1,271,379
$8.48
12 Mos. End. Mar. 31—
"NT^t"
Co.—Earnings—
Salt Mfg.
Pennsylvania
$14,204,525 $12,193,221
retirement
after
„
Earnings
—V.
Oliver United Filters, Inc.—Earnings—
854,386
$1,701,469
1,495,690
510,250
"'Net
.
\
capital stock.—V. 159, p. 219.
150.000 shares of
$36,999
class
shs
B
Earnings per share
$1,709,659
1,499,173
""After
charges
$117,743
$152,451
$273,574
198,891
profit
No.
Pennsylvania State Water Corp.
1944—12 Mos.—1943
1944—3 Mos.—1943
Period End. Mar. 31—
8,460,075
2,570,433
198,891
198,891
198,891
$0.45
$0.20
$0.81
$0.04
>
and
158,
taxes.—V.
1943
$373,788
$364,579
209,761
204,477
25,268
1———
22,801
Operating exps., maint. and taxes
Provision for depreciation & retirements
income
income
—™—_™_™_—
subs.___.__a™——
.
;
$634,069
2,657
$631,370
42
___
Balance
Toledo, Ohio.—V.
159,
income
Net
\:
of
amort,
—V.
1768.
p.
a
debt disc., premium (net) and
expense/etc., of Penn. State Water Corp.™.
Int.,
corporation was formed Nov. 1, 1938. He is also a member of the board
of directors of the Fiberglas corporation whose general offices are in
52,235
interest
$620,739
3,443
$617,296
:
other deductions of
&
Company—
elevated to the post of Vice-President of
Owens-Corning Fiberglas Corp.
He will continue to serve as Comp¬
troller and Treasurer of this affiliate, a post he has held since that
$137,301
52,411
Int.
Minority
Winkle has been
Harry R.
$138,760
—
of
Vice-President
Co.—New
Glass
exps.,
for
Prov.
1943
*'
$1,418,169
717,280
66,820 '*
1944
$1,432,527
729,981
81,807
-—_
maintenance & taxes
depreciation and retirements™™™™
Operating
Gross
Affiliated
1944
12 Months Ended March 31—
earnings
Gross
(& Subs.)—Earnings
31—
12 Months Ended March
2584.
p.
1559.
(Ohio Cities Water Corp. (& Subs.)—Earnings-
Gross
March
including
1768.
p.
$2,525,605
1944
revenues
income
Gross
Common
9,143,560
2,873,098
2,944,772
$573,648
earnings
amount
similar
A
a dividend of 75 cents per share
value, payable June 14 to. holders of
has been disbursed each quarter
par
no
Oklahoma Natural Gas Co.—Earnings—
Owens-Illinois
Gross
and
since
stock,
1.
June
record
16 declared
May
on
common
.
507,715
income
directors
the
caused
12 Months Ended March 31—
Co.—Earnings
$583,189
income
oper.
Net
Inc.—75-Cent Distribution—•
Penick & Ford, Ltd.,
The
of the Flannery Bolt
$4,372,806 $13,718,127 $12,740,167
$4,690,529
3,113,636
993,704
revenues__
$2,628,311
$513,869
1150.
p.
Carried—
1944—Month—1943
1944—3 Mos.—1943
$4,378,053 $13,730,953 $12,755,625
5,247
12,826
15,458
$4,695,077
4,548
revenues
$579,75!?
income
Net
1943.—V. 159, p.. 1767.
Northwestern Bell Telephone
Period End. Mar. 31—
.
charge of finance
in
Transportation Co. of New York, a
Pennroad
Net
Operating
Vice-President
1,927,319
income
Income
The corporation in April carried 3,188 passengers out of Chicago,
compared with 2,512 passengers in March, J. J. Fauteux, Chicago dis¬
trict
traffic
manager,
announced.
Tnis was a 35% increase over
carried in the same month of
.a.
of this company, has been
of the National
Parmelee affiliate.—V. 159, p. 1389.
formerly Treasurer
Wyatt',
Executive
paid extras of $1 each on Dec. 26,
-V.
passengers
charges.
other
and
'
income
oper.
Gross
kwh., as compared with 37,686,000 kwh. for the cor¬
responding week last year, an increase of 8.5%.—V,. 159, p. 2012.
Airlines, Inc.—More Passengers
depreciation
interest,
Raymond J.
elected
totaled 40.885,000
Northwest
,
Fed. 1 excess
for
Net
$376,637;
721.905
$0.52
outstanding.™
share
Vice-President Of Affiliate—
on
1944,
for the week ended May 13.
company
inc.
5,779
taxes
Other
Electric
shares
per
112.250
Fed.
for
profits
$335,866
721,905
$0.53
taxes
profits
excess
1943
-.
$826,636
450,000
profit
Earnings
1,260,500
investments-
for
Prov.'
(Del.)—Weekly Output—
Power Co.
23,229
1,450,174
860,000
Taxes (other than Fed.)
retirement $1,000,000
It Is proposed later to refund the
rest of Hydro's bonds at a lower interest rate, but this refunding is
not a part of the present proceeding.
Under the plan public holders of the 7%. cumulative preferred stock
•of Hydro will receive % of a share of Northern's new 5% cumulative
preferred stock, and $26.02 in cash.—V. 159, p. 2011,
States
400,355
res.
and
income
|
1944
$1,175,866
790,000
.
.
limited-term
of
electric
Indiana Hydro first mortgage bonds.
Northern
1,424,253
___
retire,
taxes
income
Common
$3,789,482 $17,008,062 $15,077,531
1,152,472
5,572,839
4,556,232
182,598
971,724
758,339
400,381
1,604,529
1,606,488
245,990
for
Amort,
completely interconnected.
are
expenses
Maintenance
lefcse'e. of the properties of
Indiana will call for
After the merger, Northern
Operating
Co.—Merger Ap¬
.'.
this company of the Indiana
Service
Public
Indiana
before
Net
1944—12 Mos.—1943
1944—3 Mos.—1943
$4,363,716
revenues
Co. (& Subs.)—Earnings—
Parmelee Transportation
Quarters Ended March 31—
"'Profit
Federal
Period End. Mar. 31—
directors.—V. 157, p. 1850.
proved—
and $292,300 for taxes
statement converted to United
of the Canadian dollar,.
above
Oklahoma Gas & Electric Co.—Earnings—
Pennsylvania RR., has been
Moore. Vice-President of the
member
a
the
official rate of exchange
the
at
contingencies,
other
and
Included in
are
dollars
States
Northern Central Ry.—New Director—
inventories
on
income,
on
the announce¬
H50.
Monday, May 22, 1944
CHRONICLE
THE COMMERCIAL & FINANCIAL
2088
319,521
319,471
$297,775
•_
$311,899
159, p. 1559.
;
Int., amort, of debt prem. & exp. (net), etc., of
subsidiaries
_*
dividends
Preferred
—
subsidiaries—
of
42,905
$42,161
2
88
1944
Int.,
amort,
Cities
of debt disc.
Water
&
Gross
etc., of Ohio
exp.,
Corp._
*
operating
—V.
159,
$42,073
$43,442
income
Provision
sales—
1942
1943
1944
1941
9,420,129
9,289,846
10,477,114
;
——
profit
$8,650,761
$9,194,176
„„
Other income
8,413,755
$8,008,181
and
income
-
$8,898,245
$8,343,093
775,435
806,311
819,960
2,621,053
2,665,659
638,270
600,901
2,518,703
803,549
Cr69
1,907,909
704,431
334
1,247,875
and depletion—
charges
Minority interest
*
__
for Fed.
inc.
etc.
held
on
to
income
*
surplus
by
*1,701,294
and
public
minority interest in
$3,954,573
$3,124,079
$2,953,075
$0.46
$0.40
"■No
provision
profits
cess
made
Federal
profits taxes,
excess
post-war
of
refund
tlncludes
Earnings
per
p.
Federal
071; Federal
normal
profits tax,
excess
$4,206,252;
income
tax
accrued
and
159,
Operating
,
1,543,463
share
common
$2.25
1696.
estimated, $802,360;
Operating
revenues™
Operating
_*
expenses
taxes
the
Laughlin
Steel
Corp.,
above.—V.
156,
$9,514,327 $30,794,486 $27,660,061
6,349,255
21,675,286
18,551,124
2,020,325
5,936,552
5,592,780
$989,095
$1,144,747
$3,182,648
$3,516,157
3,352,167
income™
oper.
—V.
2,878,194
4,972,241
stock,
in
par
,
Manufacturing
&
declared a dividend of 20 cents per share
$5, payable June 12 to holders of record!
was made on March 10, last.
In 1943,
cents
35
June 30 and 52'A cents
issue.—V. 159, p. 879.
on
159, p.
;v
1559.
of
Gross
profit
Subs.)—
Co. (& Subs.) —Earns
1941
1942
$785,693
$837,144
446,206
433,169
453,414
Net
General
1044—3 Mos.—1543
sales
Costs,
$8,645,481
sell,
113,056
152,782
Fed.
Net
amort,
&
$239,468
$230,948
$125,660
83,109
65,433
54,698
39,329
8.616
9,056
8,765
7.417
363
63,164
Total
Other
120,772
118,487
$2,967,901
$4,128,657
i
$576,059
27,944
72,873
$2,564,016
$2,955,845
52,818
$4,201,531
87,891
$5,903,359
in-ome
Canadian
Wis.
inc.
Normal
&
•Excess
54,507
_______
Fed.,
profits
Total
31,982
24,101
24,470
$1,131,985
$1,040,782
37,533
19,922
8 830
$1,675,259
303,659
330,000
598,500
$1,151,907
142,064
910,000
505,000
$1,049,612
35,251
229.400
498.400
—
——
Cr50,500
Cr49,840
the quarter_„_™
$443,100
$0.89
$345,343
$0.69
$336,401
$0.67*
-
_1
deductions
inc.
norm.
;
tax
.
(est.)
& surtax
profits tax (est.)—
refund of Federal excess
excess
Net income for
2,147
1,218
$72,282
$97,019
$68,277
$24,760
3,721
6,886
5,234
1.176
$76,003
$103,904
income
1,737,700
tax—
2,247,200
478,1C0
Net
554,000
$73,512
2,650,700
Earn,
4.043,000
26,203
The
14,038
'$58,138
'$35,046
'$21,897
$0.07
share™
$0.06
$0.04
$0.02
Consolidated Balance
May
March
10,
$546,209
—
tSpccial
Net
profit
earned
carried
refund
three
for
months
and
of
300.000
fixed assets
.
profits tax,
$185,000
$270,000
in
in
$396,027
as
1944
$684,840
shown above,
19<*4
and
and
$210,000
£400,000
in
in
1943
1943
$2,469,006;
$914,369
is net of
for
a
for
within
the
year,
the'six
tFor
excise
post-war
conversion
contingencies
and readjustments, losses on inventories
(including renegotiation of war contracts).
Notes—(1) Provision for Federal taxes
computed
on
on
income for
the six
par),
on
31, 1944, has been na.de by prorating the estimated taxes
annual basis, using rates specified in the Revenue Act
accrued salaries and wages, $13,894; accrued interest,
accrued taxes. State and local, $15,010;-accrued taxes, current$102,104;--provision for Federal income taxes,
deposits on soles contracts. $6,249; dividend pavlong-term debt. $521,311; common stock ($1
capital surplust $1,397,481;
earned surplus (since
1938), $518,309; total, $3,892,717 —V. 158, p. 2257.
1944, $88,191;
$881,907;
July 31,
providing $13,600 for
and
other
come, and a net r»-ofit of
after providing
reserve
for
contingencies,
post-war
and
<567,002 for the
$13,600
for
reserve
readjustments'
$207,700 for
taxes
losses
on
in¬
six months ended March 31,
for post-war
readjustments',
Appliance Co.—VT Loan—
arrangements for a VT loan of $8.0^0 000,
ncco-^ing to Chicago dispatches.
Participating financing institutions,,
headed by the Cleveland Trust Co., are. Harris Trust & Savings Bank,
-
'
Comnany
has completed
Trust Co.; Security-Firs^,,National Bank, Los
Angeles; Mutual Life Insurance Co., New York^Ceptral National Bank,Cleveland, and the Union Bank of Commerce £oM Cleveland.—W. 157*
Chicago;
p.
1364.
New
A
output
May
for
1944
13,
6,773,000 kwh., or 5.8%,
—V.
159,
p.
the company and its subsidiaries for the
amounted to 122,480.000 kwh., an increase
over the corresponding week of last year.
2013.
Philco Corp.—Output
,
York
,
~
and Earnings Rise—
1944
+1943
$946,326
$708,702
$0.69
Quarters Ended March 31—
'Net
$0.51
.
income
Earnings per common, share
estimated
'After
after provision
and
+Adjusted earnings.
Federal
'
,
.
*
profits taxes,
renegotiation of war contracts.
and State income and excess
for adjustment and
v
.
.
.
and radio equipment reached
increase still further,",. John
Ballantyne, President, said on May 10.
"The company's ordnance pro¬
duction continues to make an important contribution to the war effort.,
an
dthis week the 10,000,000th heav"-arti'Wv fuze maniifae^ur«d in:
Philco plants was presented to the Philadelphia Ordnance District."
The
on
in
March
and
radar
promises to
I
Pay Dividend of 20 Cents—
a dividend of 20 cents per share
payable June 12 to hbldn*1! of record
A similar distribution was made on March 13. last.
Pay-'
1943 were as follows; March 12, 15 cents; June 12. Sept. 13,
13. 20 cents each;-1 and Dec. 27, a year-end of 25 cents.—J
directors
common
27.
merits
and
levels
the
May
output of
corporation's
"The
record
To
Parker
to
inventories
1944,
purchase obligations, due
secured notes, due within one
$192,323;
and miscellaneous,
1.
similar distribution was made on this issue on
last, and in each quarter during 1943.
In addition, an
cents per share was paM 011 Dec. 6, 1943.—V. 159, p. 1768.
ended
week
of
an
•
adjustment amounting to approximately $265,000
prior periods.
(2) The operating results of the Canadian subsidiary company, show¬
ing a net less of £13,539 for the three months ended March 31
1944
after
payable,
$9,600; six-year 4y2%
$92,137;
able May
months
?! !94f Provision for excess profits tax for quarter ended March 31,
1943 ' includes
an
applicable
year.
prior vears, $52,600;
*
ended March
one
$1,600;
months ended March 31.
and other
notes
$666,664;
Liabilities—Accounts
post¬
declared a quarterly dividend of 35 cents
stock, par $1, payable June 6 to holders of
11
May
common
Sheet, March 31, 1944
$210,22f; U. S. Treasury certificates of indebtedness,
and accounts receivable (less reserve), $283,286;
investments, $144,530; deferred charges, $39,986;
(less reserves for depreciation and depletion of $3,704,925),
other assets, $73,023; total, $3,892,717.•
$6,000;
inventories.
on
23.
electric
The
Assets—Cash,
$1,214 369
300,000
$396,209
excess
credit
$984,840
to
surplus
"•Provision
war
$396,027
150,000
reserve
,
Philadelphia Electric Co.—Weekly Output—
•
Net
profit
before
special reserve
directors
share on the
record
12,263
$62,798
com.
per
-
$35,936
17,766
13,204
profit
for
35-Cent Dividend—
extra of 25
taxes:
299.800
1942.
;
28,000
V
for
provision
.
Prov. for Fed. inc. taxes
225,600
of $193,700 in 1944; $123,600 for 1943. and
tlncluding $150,000 in 1944 and $75,000 in 1943
contingencies.
JOn the basis of 500,000 common
shares, present capitalization.--y
\
for
per
profit
r
'Including depreciation
$103,500
13.166
906
Int., disc. & other chgs.
&
surtax
1942
$3,140,582
1:681,596
.
$1,637,726
operations™
._
profits tax (estimated)
29,407
leases
Non-operating income
91,990
259
40,348
32,315
3,316
_
_1
undev.
220
10,418
29,786
26,937
_
_
Operating
52,628
..
23 575
_
costs_
devel.
of
Amort,
$5,850,732
38,419
taxes™
rentals
Depletion
.—,
chc rges
Prov.' for
60 878
$2,525,598
income
local
Depreciation
15,574,920
of
profit
Other
11,632,710
$247,622
expenses
Intangible
8,765,343
equipment—
;
-
3,210,817
$1,458,987
418.205
from
income
Federal
109,613
_
sales™
from
and
Lease
$11,794,123 $15,882,139 $21,544,139
6,056,719
&
plant
State
1944—6 Mos.—1943
etc.,
gen.,
expenses
Deprec.
inc.
1943.
,
$4,616,861
340,787
141,844
_
profit
Other income
Post-war
1943
costs
oper.
Net
Earning:—
Period End. Mar. 31—
Dec. 15.
$1,966,99-5 $1,406,044
329,266% ' 274,059
sales™___!
on
Sell., gen. & admin, expenses
Gross
$835,672
sold
goods
1944
$5,199,216
3,232,224
of
'Cost
:■
1944
sales
Cost
83.
(&
on
this
on
arrears
sales,'less returns & allow.__
goods soldo;
,.™
._
Gross
tOther
Net
Co.
Distribution—
distribution
paid
are
15
May
on
2258.
p.
JEarnings per common share_„;—
Marine
■
4,636,318
Panhundle Producing & Refining
Direct
Outboard,
1867.
(Chas.) Pfizer & Co., Inc.—Earnings—
$10,466,979
7,355,776
2,122,108
3 Mos. End. Mar. 31—
p.
p.
"
■
Quarters Ended March 31—
$9,535,827 $30,869,986. $27,723,561
21,500
75,500
63,500
income
Net
funded debt, $11,-
Otis Steel Co.—Bonds To Be Redeemed—
&
159,
approving a proposal to merge
Corp.—20-Cent
Trading
&
"A"
company
Dividends
158,
' i
similar
A
5.
Gross
Net
$5,500,-
000,000; deferred liabilities, $165,373; common stock (6,563,377 no par
shares), $59,235,791; capital surplus, $5,087,363; earned surplus, $34,706,223; total, $121,955,006.—V. 159, p. 2012.
.
Jones
class
the
'
See
-V.
above.
With Van Camp Milk Co.—
Co.—V.
Milk
Pet
of
directors
The
June
1944—3 Mos.—1943
$10,492,479
25,500
revenues
Operating
estimated,
it
Petroleum
Co.—Earnings—
1944—Month—1943
taxes and interest,
surtax,
,
Milk Co., /
with this
is proposed to issue in exchange for the Van Camp stock ;
out of $3,000,000 newly authorized 4JA% cumul. 2nd pre-"
stock
ferred
12,522,548
$2.29
1
stock
Uncollect. -Oper. ireV._
'•/
Liabilities—Accounts payable,
1,746,148
Camp Mi'k Co. of Fort Wayne, Ind., with the Pet
latter to be the continuing corporation.
In connection
the
22,472,274
8,406,263
12,522,548
stock
Period End Mar. 31—
Assets—Cash, $16,695,338; U. S. treasury notes and certificates of in¬
debtedness, $9,263,938; notes and accounts receivable, less reserve, $6,393,286; inventories, $6,877,688; investments and other assets, $5,071,088; fixed assets (net), $76,853,112; deferred charges, $800,556; total,
$1,191,572;
1.464
22,720,932
8,409,847
;
Pacific Telephone & Telegraph
to
1'
$121,955,006.
852,235
stockholders will vote May 24 on
Van
$2,900,000
un- •
1,226
common
on
—V.
Consolidated Balance Sheet, March 31, 1944
/-»•'
508,727
ex¬
amounting
$58,811)
2,545,973
158,309
Pet Milk Co.—To Merge
The
on
$529,298.
v
22,473,738
1,788,537
Dividends
$0.22
for
(less
taxes
824.836
1,519,770
V.;
$1,933,772
$0.60
Earns, per com. share—
906.617
710,000
Chicago & St. Louis RR.
York,
New
merger
earnings
surplus
on
preferred
Balance,
Dividends
tl,264,585
profit
11,147/605
16,138,214
stocks
capital
on
Balance
Net
10,777,516
24,711,511
22,722,158
—
subsidiaries
of
distributed
tax.,
'
taxes
210,316
345,249
loss
and
655,426
227,467
49,759,557
"'344,237
Depr.
Prov.
Federal
for
profit
2,312,211'
1,928,957
437,886
:—
New Vice-President—
other
deductions
income
Net
$5,591,279
700,595
Taxes
Other
and
discount
interest,
income
oper.
the
289,698
$9,253,915
_______
58,211,185
—
other
Dividends
income
329,125
$5,301,580
'334,912
247,484
59,739
49,430,432
379,069
—
_.
income
Gross
Bond
Provision
Total
Net
See
$19,671,290 $17,940,607 $17,428,310 $13,715,336
™™
Gross
18,519,052
1944—4 Mos.—1943
$4,752,539 $18,455,453 $17,808,920
& exc.
inc.
Other
57,832,116
revenue
income
(& Subs.)—Earnings—
3 Mos. End. Mar. 31—
of
operating
Miscellaneous
Ohio Oil Co.
Cost
Can.
&
profits taxes
railway taxes___-
61,779,541
Balance
Net
Sales
Fed.
-
64,793,727
19,498,917
1559.
p.
Co.—Earnings—
$4,582,099
income
Gross
142,124,760 129,729,025
revenue
operating and administrative exgeneral taxes, etc
—
for
depreciation
Maintenance,
penses,
Net
$
■>
1944-Month—1943
Period End. Apr. 30—
1943
$
12 Months Ended March 31—
_
Pere Marquette Ry.
Co.—Earnings—
Gas and Electric
Pacific
42,905
$43,444
—
Balance
in
Dec.
V. 159, p.
1868.
on
May 15 declared
stock,
par
$3,
,
(Continued on page 2121)
"
Volume
Number 4283
159
THE COMMERCIAL & FINANCIAL CHRONICLE
Stock and Bond Sales
rDAILY
NOTICE—Cash and deferred
New York Stock
«»
-
WEEKLY
delivery sales are disregarded In the day's range, unless they
furnish
YEARLY
-
are the only transactions of the
United States Government Securities
BeJow
2089
day. No account Is taken of such sales
the New York Stock
on
Daily Record of U. S. Bond Prices
May 13
May 15
May 16
May 17
May 18
May 19
Daily
[High
Record
of
U,
8.
Bond
Prices
Treasury
■{ Low
[Close
f
in
Total sales In $1,000 units
100.1
100.1
100.1
100
100.2
100.1
100.1
100
100.2
100.1
100.1
100
100.2
2
(High
2y4s, 1951-53
Total sales In $1,000 units
Low
(Close
Total sales In $1,000 units
I High
3yas, 1949-52—
j Low
[close
(High
Low
2y4S, 1952-55
1
[Close
units
Total sales In $1,000 units
f Hign
| Low
3s, 1946-48
[High
2y4s, 1954-56
[Close
[ Low
[Close
Total sales In $1,000 units
Total sales In $1,000 units
[High
——————Low
2y4s
(High
Low
1956-59
{
[Close
Total sales in $1,000 units
[Close
Total sales in $1,000
-
units
High
[High
.
Low
27/as, 1955-60—
2s,
1947
Low
Close
[Close
in $1,000 units—
Total sales In $1,000 units
(High
102.28
{ Low
(Close
2%s, 1945-47—
102.28
I.High
2s, March 1948-50
low
102.28
Total sales in $1,000 units
Close
1
Total sales In $1,000 units
High
rHigh
Low
2% 8, 1948-51
2s, Dec. 1948-50
j Low
Close
[Close
Total Bales in $1,000 units—
Total sales In $1,000 units
High
;5'
Low
2%S, 1951-54—
-•
-
[High
Ss, June, 1949-51
\ Low
Close
[Close
Total sales In $1,000 units
Total sales in $1,000 units
j Hign
2%s, 1956-59—
2s,
Sept.,
[High
\ Low
1949-1951
(Close
[Close
Total sales in $1,000 units
Total sales In $1,000 units
Hign
Low
2%S, 1958-63—
Ss, Dec.,
f Hign
1949-1951.
-j Low
Close
(Close
Total sales In $1,000 units
Total sales in $1,000 units
111.8
(High
2*48, 1960-65—
f High
111.8
j Low
(Close
2s, March,
111.8
Total sales In $1,000 units
j
1950-1952
Total sales in $1,000 units
(High
Low
j
Sept.,
[High
{ Low
1950-1952
Total sales In $1,000 units
Total
[High
sales
\ Low
[Close
Total sales
In
100.31
5
[High
100.14
Low
160.14
Close
100.14
Total sales in $1,000 units
4
2%S, 1949-53—
2s,
1
1951-55
Total sales in $1,000 units
Low
(High
[close
sales In $1,000 units
2s
„
[High
-j Low
;
;
103.31
[Close
2%s, 1952-54—
1953-55
l:
] Low
(Close
.
103.31
103.31
Total sales in $1,000 units
Total
1%s
24*
sales
in
$1,000 units
[High
{ Low
1948
f High
2%s, 1956-58—
(Close
Total sales in $1,000
{close
Total sales in $1,000 units
u.
Low
•
-
Close
[High
•I
•
$1,000 units.
High
Total sales In $1,000 units
Stts, 1950-52
in
Low
[Close
Total
units
Federal Farm Mortgage
High
2yas, 1962-67—
High
Low
3s, 1944-1949
Close
Total sales in $1,000 units
Total- sales
High
in $1,000
in
$1,000 units—"
100.2
Low
100.2
Close
Total sales
Low
Close
——.
1963-1968.
2%s,
100.31
$1,000 units
2s,. 1951-1953
(High
—
100.31
[Close
2s,
[Close
1948-—
Low
(Close
2*
.
1945
2%s,
5
Low
[Close
[Close
2%s,
1
(High
-I
Total sales in $1,00
$1,000 units
(High
•{ Low
3y8S, 1946-49—
Total sales
—
Low
$1,000 units
2%S, 1967-72
Total sales in $1,000 units
———n»
—
[Close
{
(High
[Close
May 19
100.1
1
1965-70
Total sales in
Low
May 18
100.1
f High
2%s
May 17
the New York
$1,000 units
[Close
-I
May 1(5
on
High
[High
•] Low
3%s, 1946-56—
May 15
bonds
[Close
Total sales
41, 1944-54
May 13
coupon
{ Low
2%s, Dec., 1964-1969
Total sales In $1,000 units
3s, 1951-55—
computing the range for the year.
a
Treasury
4 Vis, 1947-52
Total sales In $1,000
In
Exchange
daily record of the transactions in Treasury, Home Owners' Loan and Federal Farm Mortgage Corporation
Stock Exchange during the current week.
Figures after decimal point represent one or more 32d of a point.
we
Exchange
-1.:
■■
Home
Owners
Loan
100.2
———
[High
[ Low
■
units
(High
-{ Low
[Close
2'/as, June, 1964- 1969
f
600
_
100.2
100.2
100
100.2
iy2s, 1945-1947
100
100
Total sales in $1,000 units
1
[Close
Total sales
1
♦Odd
lot
in
$1,000 units
sales.
tTransactlon
of
registered bond.
NEW YORK STOCK RECORD
LOW AND
Saturday
Monday
May 15
May 13
112
$ per share
$ per share
57%
58
57
*111%
113
*112
57%
113
52
*49 %
52
56%
•56 *4
56%
11%
11%
31
31
21%
38
y4
11%
38
38 y8
90
5%
5%
5%
*152%
156%
27 Va
26%
*52
51 y4
24%
24*8
*80
142%
142%
*13%
32%
For
11%
*142
14
32%
footnotes
90
5% °
*153%
2
27%
27%
113
58
500
12
4,700
11%
11%
11%
12
30%
30
30%
*29%
31%
20%
20%
*21
21%
*21 %
21%
37%
38
37 %
37%
37%
38 %
*87%
89
87%
89%
*88%
11%
5%
5 Va
5Va
5%
5%
5%
156%
*153%
156%
*153%
156%
2y8
2%
2V4
2%
2%
2%
10,600
29%
28 %
29 Va
29 ya
29%
30%
35,100
30
52%
56%
54%
56
56 %
58
57
58
24%
24%
24%
24%
24%
25
24%
25 ya
81
11%
32%
14
.
32%
page
2099.
142
*13%
32%
.81
11
81
11%
142%
141%
142
14
*13%
14
33%
32%
33%
Air
*81
85
11
11%
142
*81
u y4.
'
142%
*13%
Reduction
13%
x3iya
31%
30%
31
3
par
10% Jan
27
Par
26% Jan
31
10
No
Min
19% Jan
x
3,600
Mar 16
12% Mar 16
31
May
3
51%
108
Jan
Nov
63 % Mar
115%
Jan
52
41%
Jan
57 Va
Sep
Apr
7%
Jan
13
Feb
32 % July
14%
Jan
38%
Jan
487/8
67
Jan
76%
5% Apr
18
151% May 5
2% Mar 18
85
par
5
No
July
25%
42% Mar 13
1
No
Sep
35%
22% Mar 11
1
;
:
58
.
89% May 18
6% Jan 15
100
Allied Kid Co
*Uted Mills On Inc
11
112% Apr 22
51% Mar 31
Highest
$ per share
13
100
Allen Industries Inc
Dye
$ per share
Jan
$2.50 prior conv preferred-No par
Chemical &
Jan
75
Alghny Lud Stl Corp_
No par
Alleg & West Ry 6% gtd——____100
Allied
61
37% May 18
2,600
100
6
$ per share
par
10
Albany & Susquehanna RR
Allegheny Corp
>
5 y2 % pf A with $30 war
1,100
Year 1943
Lowest
100
Inc,
1,500
-
142%
13%
Jan
No
Alaska Juneau Gold
-
40
11%
142%
53
6.200
:
85
13%
'
24
No
:
Jan
Alabama & Vlcksbufg Ry
6,800
V
17
21
47
Address-Mutigr Corp
20
*153%
109% Jan
No par
23
Adams Express
Adams-Millis Corp
400
52% Feb
100
.
Acme Steel Co
7,000
2Va
11%
preferred™
*
90
5%
81
4%
$ per share
No par
Abraham & Straus
300
156%
11%
Abbott Laboratories
30
58
.
Range since January 1
Highest
Lowest
Par
20
52
*30%
y2
Range for Previous
"
STOCK
EXCHANGE
1,000
*50
*111%
24%
143;
*13%
see
38
81
*80
11 %
21
37%
58%
53 V4
24%
81
*11
2
2
2Va
11%
31
21
*87
156%
*50%
56%
*30%
5%
26 %
56%
YORK
Shares
58
50
NEW
the Week
$ per share
113
50
56%
21%
*152%
2
*112
49%
56%
31
*87
113
*48%
for
May 19
58
56%
*21
89
*57
49%
*30
38%
*87
57
Sales
Friday
$ per share
*56%
12
11%
*111%
STOCKS
Thursday
May 18
48 y2
*49%
■=•56 V4
*21
PRICES
Wednesday
May 17
57%
58 '/4
112 Va
SALE
$ per share
$ per share
*57 %
HIGH
Tuesday
May 16
par
124
2
Jan
3
Mar 29
23% Jan
3
33% Mar 20
21% Mar.
Jun
Jan
IVa
Sep
Apr
Jan
3%
128%
Dec
& Jan
5ya
Jan
3% July
32 y4
Sep
4
58
Mar 18
13
Jan
45%
24% Apr
19
28
Mar 16
18 Va
Jan
31% July
70
21
81
May 16
64
Jan
75
37
Jan
Jan
9% Jan
141
Anr
3
"6
13% Mar 1830
Jan
25
Sep
May
6
7
Jan
.Tni
7
140%
Jan
16% Feb
5
10%
Jan
14% May
35% Mar 27
lfiV,
.Ton
7734
11% May
150
11%
165
Jun
July
Wn y
•••.
Saturday
May 13
LOW AND HIGH SALE PRICES
Wednesday
Tuesday
May 17
May 16
Monday
May 15
100
34%
35
109%
1674
153/4
16
99%
99%
99%
109%
110
18%
18%
18 7a
2%
2%
2%
16 V*
99%
99%
*997b
39%
*38
39%
95%
95%
96
963/u
27
27%
26%
197a
27
19%
4,900
2,000
197a
19%
3,200
27 b
1,100
19%
'
2%
27b
397i
*38
997a
1007a
*99
26
26 7a
26 7a
267a
617a
613A
62
27
26
61
61%
617a
617a
*26%
977a
97
35%
10974
19%
99 7a
267a
9674
357a
*37%
2%
16%
16%
167a
167a
167a
167a
63%
*627a
63 3/8
*62 7a
63%
637b
633A
63%
157a
157a
167a
15%
13%
14
15%
13%
41
40%
41
13%
"40 Va
173
173
173
172%
173
"172%
*129%
-
V
380
1174
117b
11%
117a
11%
,i
600
„—1
.—25
—100
American ...Car & Fdy
—No par
7% non-cum preferred-—.—-100
Am Chain & Cable Inc
No par
5% conv preferred
100
American Chicle
No par
American Colortype Co_
-10
1474
14%
14%
1474
1474
r
900
American
337a
33%
33%
333A
34
3474
3574
35
73
74
74
.7474
747a
74
747a
747a
74
73
23%
"73
23%
23%
23%
23%
23%
237b
23 3A
23%
23%
237b
11071
112%
*11074
115%
115%
1157a
1127a
*11074
1127b
*110 7a
1127/a
*110%
11278
115%
116
1157a
"10%
11%
107a
107a
14%
14%
*
112%
"111
103%
"163
14%
*14%
14 3A
*14%
1474
103 3A
*103
103
103
10374
*103
11%
29
"
103
1,900
?
29
29
28%
28%
28%
287a
287b
29 7a
90
2%
27a
27b
27b
"2%
2%
*2%
4
27a
27b
*23/a
27,
2%
8%
*8 7a
874
8
8%
*8 74
8%
8%
"8 7a
25 7o
*2474
2574
25
"8%
*8%
8%
"24%
25%
4%
83%
83
82
83
21
207a
2174
2U%
20%
20%
74%
74%
73
73%
34
34
33%
33%
"3%
3%
41
"40%
6
'
*63%
8%
v
1,500
34
!
500
69%
697b
8 74
87a
74
8
*8 7b
'
7%
774
487a
16%
167a
897a
497a
17
167 b
17 7a
16%
167b
89%
*88 7a
167a
897b
897b
89%
90
897a
903/a
16%
16%
89
89
15%
15 %
15%
157a
15%
15%
157b
15%
11%
117a
11%
*11%
1174
117 b
ll5/b
2074
x20 74
20%
20 74
20%
"118
*2074
207a
119
119
119
*118
119
*2074
20 V4
20%
20 %
20%
119
35
35.!.::.
34%
34%
347a
*34 7a
2%
2%
2%
2%
274
44%
44%
44%
44%
45 7a
45
45%
41%
41%
41 %
413A
*42 7a
42%
427b
42%
97a
9 7a
9 74
97a
97b
*168
"13
12%
12%
127a
13
65
65 %
6474
65%
65
16
16%
16
16
"14%
14%
14'A
27%
27 %
"36%
37 %
155
154%
"40
149
*148
23%
*4074
237b
23 7a
157a
15%
15 7a
15%
207a
207b
*20%
2174
21
20%
38%
89
*3874
39 74
397b
*119 7a
1197a
1197b
*119%
667b
*15 7a
1474
'147a
"26%
27%
*26%
27%
*26%
2774
26%
157%
1577a
157%'
1577a
15774
1577b
41
*
1487a
A
1574"
207b
24
41
1207a
*26%
27%
277a
158%
158%
158%
62
62
62%
4,700
62
61 %
61%
613A
613A
6174
6174
62%
63
61%
6274
62
62
62%
63
62 3A
63%
63
144
143%
144
14274
143 74
1433A
144 %
144.
10%
42
42%
*117%
*6%
6%
•10
1074
10%
107b
10%.
107a
■i
2,100
Amer
42 7a
427a
427b
427b
42%
••i
427a
8,300
American
1187a
118 7a
*118 7b
11974
118%
1187a
*118%
119%
400
6%
5,500
90'/a
100
90%
90%
6%
67a
6%
6%
7
67b
'
7
674
,
90 7a
*89
7%
8
•
7%
7%
7%
77a
77a
77b
77b
83%
817a
81%
827a
82%
827a
827b
4%
4%
4'/a
4%
4 7b
7%
77b
"82%
;
r:
*89
90 7b
*89
907a
*89
90 7u
*89
4
4%
■47a.
*474
'
v
47b
474
4974
*45
49%
4974
4974
25
2574
257a
25 74
257a
2574
25%
25%
257b
257a
25%
25%
2574
*25%
2574
-25%
25 7a
2574
25%
*2572
25%
23 %
*22 7a
23 7a
*2274
1177a
49%-
25
"25%
*45
;.
23 %
*22
2374
*22
117%
*116
117'%
*116
"22%
"116
97a
"9%
2%.
"2%
5
83%
83%
82
37
10%
*10
116
"112%
*112%
87/a
*11272
116
*1278
13
977a
98
907a
92 %
92%
106%
"105%
64 %
64 Va
64 Va
93%
93 3A
37%
36 3A
37
"27%
"61%
28%
64%
110%
37%
37 3A
37 74
1074
*9
10V4
974
9Vn
97a
9
*11272
116
'
13%
I
380
i
170
*33
35
0-3
35
OO
1
100
94%
38
38
6674
93%
94
3874
397a
39
397b
*2774
287a
64
*28
287a
*273A
*62 7a
64
*62 7a
64
*62 7a
327b
32
327b
X3274
1117a
12%
*110
111%
32%
3274
111 Va
55%
116%
1167a
15%
14 3A
.
*110
1474
127a
,
12%
5474
*53%
5674
5674
56%
*116
*14%
11%
11%
113A
11%
117b
12
77%
77%
78
787a
*78
37a
3%
187b
18%
3%
127b
*53%
54 3A
56
80
18%
65 34
947a
64
1163A
18%
66
94
-
28
32
3%
37a
10
1067a
106
6574
1067a
28%
54 3A
3%
1067a
*105 7a
38%
127a
3%
2,800
987a
92 74
65
*53 %
11%
1374
137a
98
9 1 74
94
543A
*77
.■
98
64%
543A
*14%
115
*112 7a
9274
98
*105 7a
127a
*116
600
2,200
*92
9474
127a
15%
137b
1,100
'/. i:
97a
927a
64%
*533A
55%
1374
137b
98
115
7b
*33
:
12%
116%
*112%
116
98
547a
54%
140
*917a
92 ?
"53%
116%
'
1,100
38
*974
87b
"12%
*14%
9,300
3
J
87b
*110
111%
.'
103
102
300
V7
*116
116%
*1474
15%
12%
55
567a
6,400
1,500
'
A. 7,100
V:
100
7
100
8,600
327a
60
111
*110
4,400
127a
1274
*54 7a
57
680
116%
*1474
1574
12%
5,500
79
*116
127 b
787a
777a
3.74
37 b
37a
1978
197 b
1974
197b
77a
77b
77a
100
3%
77b
127b
12
78
116% Apr 26
67t Jan 3
8472 Jan 10
No par
No par
No par
100
1
Jan
34
Jan
76 74 July
Jan
183/a
Dec
61
Nov
•
Jan
Jan
Jan
7
14%
"9%
77a
774
774
77b
147a
14 7a
14%
1474
9%
974
9%
97b
9 Tb
9%
22%
22%
*2274
15
15
46%
*46
15%
167a
*32%
*106%
320
7,000
8%
*33
8%
34%
♦110%
115
22%
15%
1574
15 74
46%
46
16%
167b
287a
*27 7a
28 74
327a
8 7a
874
8%
*33 7a
3472,
115
*110
32%
3274
107
*10674
8%
87a
*33%
347a
114
1074
*110
11%
11%
113/4
12
12
357a
35%
357a
36
35%
36
3574
For footnotes see page 2099.
.
15%
15%
167/b
*10674
1072
15%
15%
16%
32%
*1074
3,300
65
23
15%
28%
*33%
227b
647a
23
106%
*110
.Conv
65
11%
10%
4%
Bangor
90
23
107a
127a
*10%
5,400
1,000
647b
22%
/27»
?!
157a
1074
*64 7a
467a
1074
„
3274
107
*15
467a
47
47
>
16
1574
16
•<-
167a
17
2874
277a
27%
3274
32 74"
32 %
*10674
3274
107
8%
8%
34 7a
*33 7a
*110%
*10
12%
127a
36
3674
114
Jan
913/4 July
18572 July
4572
Nov.
80
1874
Jan
243/4
Apr
Nov
11672 July
96
Feb
1123/4 May
6%
113/4 May
Jan
13%
Dec
18%
Feb
9772
Jan
1047a
Jun
4272
Dec
547/a
Dec
1%
Jan
474
Jun
6%
Jan
10
2274
Nov
2974 May
1%
Jan
46 7a
Jan
Apr
9
May
873/4
Jun
7
Jan
26
39
Jan
7872
Jun
30
Feb
36%
Apr
Jan
4 72
35
Jan
40%
5372
Jan
70
May
Jan
5
May
4
2°
2
3774
July
Apr
Jun
66 7a
Jan
Sep
4 3/4. Jan
9 72 May
574 tfan
77a
,
Feb
Oct
3972
Jan
47
7%
Nov
177a May
68
Nov
8274
Sep
127»
Jan
157a
Jun
107s
Jun
7%
Feb
2074
Jan
277a
Apr
11674
Jan
12572
Nov
x26
Jan
Oct
36
47» May
Jan
Oct
18%
Jan
48%
1672
Jan
4572
Oct
6 7a
Jan
11%
Jun
154
Oct
173
Feb
107a
Jan
16% July
54
6872 Mar 9
Jan
69 V2 July
87a
Jan
1574
12%
Jan
18
25
Dec
32% Mar
36
Dec
Apr
May
47%
Apr
144«/2
Feb
161
Aug
35%
Jan
45
Apr
1417a
Oct
19%
Jan
11% Mar
.
1517a Aug
29% May
16
Dec
12
Jan
17% July
1772
Jan
33
Jun
91
Jan
115
Aug
21%
Jan
32% Aug
12774
Jan
15874 July
427a
Jan
437a
Jan
653/4 July
129 3/4
Jan
1463/4 July
6%
1463/4 Feb 15
1174 Jan 19
46% Mar 16
11972 Feb 21
Jan
32
Jan
115%
Jan
63% July
12% July
49 3,b
Sep
12174 Aug
3%
Jan
533/4
Jan
33/4
Jan
5574
Jan
79%
3%
Nov
42%
v
Jan
7 74 Apr
543/4 Mar
May
Nov
88%
8% July
247a Nov
Apr/'
31%
24
July.,
Jan
293/4
7a
Jan
23% July
111%
Jan
8%
Dec
174
16
116
Apr
Mar
14%
Apr
Jan
37a
Feb
34
Jan
473/a
Sep
3
Jan
63/a
46
Jan
75
Sep
49
Jan
84
Dec
30
Jan
403/4
Jun
10%
Jun
1074
Jun
7
Jan
6%
V
Jan
43/8
Feb
92
110
Sep
Oct
Jan
1572
72%
Jan
97% July
59
Jan
674
Jun
9472 July
29
Jan
39%
Oct
10O
Jan
1087a
Nov
67% July
Jan
443/4
Jan.
907a July
247a
Nov
38
19
Jan
3674
Oct
44
Jan
68
Oct
183/4
Jan
28% May
66
■
*
May
Mar
106
63/b Jan
50%
Jan
52
Jan
113
Jan
11374
Sep
133/4 May
■57
Sep
v
683/4 July
123
Jun
16
Dec
77a
Jan
23/4
Jan
9% Aug
287a
Jan
8574 Aug
33/a Nov
Bath Iron
.
114
Creamery
'
1,9002,300
Beech
Aircraft
CTeek RR
100
preferred
Corp
Beech-Nut Packing Co
1074
1,300
Belding-Hemingway
127a
12
12
1,000
Bell
37
37 7a
3774
4,200
Bendix
.
—1
No par
—25
No par
1
:
50
^-20
—No par
Aircraft
Corp__
Aviation..
1
5
4
43
Jan
24
15% May 15
1574 Jan
-
3
2572 Feb
15
3172 Jan
7
26
25
11
24
105% Apr
8
Apr
31
Jan
11372 Apr
Jan
207a
Dec
3%
Jan
10
Apr
6
Jan
14%
Apr
Jan
127a
Apr
Jan
Feb
63 74
Dec
Jan
15%
Sep
Jan
4'7
Sep
127a
Jan
19 74 July
1372
Jan
20% Mar
237a
Jan
24 3,4
Jan
65
25
Jan
103/4
'
22
5%
Jan
27
3474
24
12
26% Jan
.
16
47
30
18%'Mar 15
297a Mar 16
13
108% Feb 23
11% Jan
3
Apr
3
11% Jan
15% Jan
37% Mar
24
11
8
Dec
774 Nov
2874 July
X29
May
333/4 July
X110
14%
Sep
Sep
253/4
Jam
3372 July
93
Feb 15
25
-
1057a
3474 Mar 28
117
10% Apr
13
.
18% Mar 17
35
'
574
4
May 19
May
10 7a Jan
3372 Jan
VI
Mar
12
4
12
Apr
974 Mar 22
17 Vi Apr
3
3
Jan
21% Apr
Works Corp—
Bayuk Cigars Inc—
Beatrice
i
9% Jan
6%
21%'Mar 16
Apr 24
3
97b Jan.
60
—50
.i—5
Co
1074
107b
Jun
July."
107
17% Apr 8
15% Mar 14
30 Feb 16
39% Mar 16
155
Apr 4
43 74 Jan 20
5% Jan'
No par
Beech
•
34%
114
Oil
18'
13
-100
-100
50
preferred-,
Barnsdall
$4.25
8% #
*8 7a
347a
400
'
107
*10674
*33%
107 b
974 May
-
5972
Mar 15
.
Aug
Jan
„
100
-L-—*-10
Brothers
Barker
-"572%
140
2,600;
16,800
16%
*27%
& Aroostook—
5% preferred
Barber Asphalt Corp
1,000.
157a
157a
8%
114r
*
1674
.
preferred
1474
65
>46
Baltimore & Ohio
13,000
*10 7a
22%
*15
134
2474
—
Baldwin Loco Works v t CJ
6,600
v
10
1574
*64 7a
*10674
323/a
107
9%
97b
*27 7a
17
*$?%
15
15
*453,4
157a
im
28%
77a
*1474
/2%
.
15 3i
15%
167a
*27%
.
2274
/15
*453/J 467a
15
1974
Apr
433/4 July
■>
,
-v
•
65
65,
*6474
65
65
19
19
14
7
7
14
■'
Sep
Nov
7172
168
B
19
Oct
Jun
9%
Jan
127%
107a Jan 25
8972 May 5
177
Mar 21
393/4 Mar 16
8172 Mar 23
2572 Mar 22
Ill
Apr 4
118
May 19
13
Feb 2
16% Mar 3
105
Mar 8
53 72 Jan 11
2% Jan 7
10
Jan 26
3172
8672
.
,,.
Jan
472
27%
—
30
1574
116%
Wks & Elec
preferred
1st
—
55
5674
100
-
Jan
"
*
.1274
79
374
■
■
39% Apr 19
23/8 July
Jan
-
100
300
t
.
57a
85%
574
857a
101%
v:'
1067a
28
32
32
"110
.
1074
1374
*62 7a
63
63
32
313/4
110%
28%
*2774
5'A
85%
.
377a
101
37%
373A
57a
85
9374
-
50
•i
47%
74,
-.64%
9474
*47%
84
*105 Va
1067a
63%
"93%
477b
*9%
35
"105%
.7
>
27b
377b
*99
98
-91%
"89
"33
27a
37'%
13%
98
90%
2%
7x47%
5
*274
1017a
98
13%
127s
977s
V
500
VV.
97b
10 7o
10
9
*8 7a
9
"8%
10 Va
5%
t; 7,000
V
340
'
47
84
99
99
*36%
37
37%
10%
/
574
83
83
1017a
37 %
47
117%
*9%
97b
2%
47
57a
5 Va
*274
*115 7a
1177a
'
237a
23
23
*9%
974
2%
2%
v.
*115%
116
116
'.•'■■.V 9%
97b
47
82
*99
101
"99
,7
47
*46
5%
5
2%
"2%
47%
"46%
*9%
97a
"97a
i
*46
49 3 4
*46
4974
7 *
3
.
23%"Sep
Jan
47 v
1674 Jan 4
2274 Mar 21
41% May 19
120 72 May 18
30
Jan 21
159% Mar 8
63
Feb 1
64% Feb 3
14
Viscose Corp
-
100
Jan
87/b Jan
100
10
Dec
%
-
8%
8 74 Mar 15
90 78 May 13
American Woolen
678 Jan 3
974 Mar 16
Preferred
67% Jan 3
8972 Mar 16
Amer Zioc Lead & Smelt
4
Jan 3
5 74 Mar 16
$5 prior conv preferred
25
44 Feb 16
5072 Apr 11
Anaconda Copper Mining
—50
24% Jan 26
2772 Mar 16
Anaconda Wire & Cable
No par
25
Jan 24,,;: 27Tb Mar 16
Anchor Hock Glass Corp—-12.50
20
Jan 7
2574 Mar 25
$5 div preferred
No par
114 Jan 6
11672 Feb 23
Andes Copper Mining
20
V 9% Jan 10
1174 Mar 20
A P W Paper Co Inc.'
i
——5
2 Va Jan 2
3 Mar 22
Archer Daniels Midl'd
No par
42
Jan 3
50 Apr 20
Armour & Co of, Illinois—^
5
' 4% Apr 19*
6 7a Jan 7
"$6 conv prior preferred—-No par,
7472 Jan 3 ;- 89
Jan 8
7% preferred
--i
-100
85 Jan 3
119 Jan 7
Armstrong Cork Co_.„_No par
3574 Apr 18
39% Jan 17
Arnold Constable Corp—
-—5
9% Feb 17
10% Mar 11
Artloom Corp
No par
8% Jan 3
10% Mar 16
7% preferred
100
102 Jan 4
113 Apr 24
Associated Dry Goods
:
1
12% Jan 4
14% Mar 13
v
6% 1st preferred
—100
90 Jan 3
99% Apr 10
7 7% 2d preferred
_100. ., 8572 Jan 3
927a Apr" 12
Assoc Investment Co..———No par
33
May 19
37 Jan 13
5% preferred.
—-100
103% Jan 19
107 Apr 4
Atch Tbpeka & Santa Fe—_——100
5372 Jan 3
68% Mar 18
5% preferred--————100
' 82
Jan 7
9572 Apr 18
Atlantic Coast Line RR——100
25% Jan 3
39% Mar 22
Atl G & W I SS Lines—1
'25
Feb 15
30 Mar 23
5% non-cum preferred
100
59% Jan 8
65 . Mar 15
Atlantic Refining-—
——25
* 24% Jan 14
32% May 17
4%
conv pref series A—
100 ; 107% Feb 18
111% Apr 14
Atlas Corp_v__
5
"11% Jan 3
13% Mar 22
6%
preferred50
5374 Jan 7
56 Feb 24
Atlas Powder_—__
No par
5274 Apr 19
5874 Jan 24
5% conv preferred
—100
114 Jan 4
117 Mar 9
Atlas Tack Corp
-No par
147a Mar 31
167b Feb 21
Austin NicholsNo par
7
Jan 25
1372 May 8
$5 prior A—
—No par
66 Apr 19
8474 May 9
Aviation Corp of Del (The)
—3 ,
3% Jan 3
474 Feb 24
$6
1,400
?
.
class B
Water
Am
■■■,«' 1,200
VI
474
,
25%
"44%
25
_25
preferred
5%
1,300
8
84%
847a
84
83
74
100
preferred
Type Foundries Inc
1074
"
*7 67a
6%
650
'.
42%
'
-
.'
'
100
No par
1
"
10%
.
—
-
Tobacco—
Common
2374 Apr 24
Jan 20
Jan 3
Feb 11
Jan 7
May 17
Jan 6
Jan 3
Jan 3
16%
29
111
26%
156
56%
5778
139
Jan
52
151 Apr 24
27% Mar 16
Mar 8
15
100
Refining
._
Telep & Teleg Co
42 7a
10
42 3/4.
42%
1177a. 1177a
118%
143%
144%
143%
144% '
10
10 %
Amer
American
2,600
61
39% May 9
No par
.
Sumatra Tobacco—
Am
7 7,300
,
62
Stove Co
Preferred
500
;
27%
1587a
"
7
147
600
.vS
Jan 13
147
American Sugar
3,100
417b
*120
41
1207a
100
25
American
700
7v
.26% Jan .3
36 7s Jan 3
non-cum preferred
—100
Amer Steel Foundries
—No par
American Stores.
No par
,...•• 2,000
207b
23%
13% Jan
4374 July
23
Jan 13
35
Jan 3
2% Mar 7
5272 Mar 22
49% Mar 22
1074 Mar 13
170
May 1
1472 Mar 16
1372 Feb 21
6%
,
5,100
1574
2174
24
6272 Jan ,3
18.50
No par
Ship Building Co—,—No par
Smelting & Refg
No par
Jan
x67>
120
32
Co
Seating
American Snuff
20
"
.
-
Preferred
300
63
~
Arner
700
7
•157b
407a
158
70
Amer
41
1467a
41%
American
4,400
t
1
American
900
..7:
37
152%
Jan 21
27a May 17
44% Feb 21
40
Feb 14
9
Jan 3
163
Jan 22
127a Jan 3
conv preferred
Safety Razor
tV'4%%
300
1527a
1487a
1,840
V
27V4
37
37
120
27
157%
'
;
1474
No par
No par
No par
No par
No par
100
25
100
Rad & Stand San'y
American Rolling Mill
6,300
16
*26%
27
'
119%.
667a
16'A
153%
Am
Light
preferred
preferred
Preferred
:
1374
66%
15%
1197b
39
:t
:
-
137a
*21
407b
l'197o
175
*168
175
23%
15 7b
207a
21
119%
2374
237a
38%
19,200
*146 7a
1487b
23%
9%
*41
*146 7a
23%
15%'
97 b
153
41
41
97b
367b
3674
1547a
41
148
148
$5
27
27
367b
*15 7a
23%
15%
41
$6
2,900
1474
1474
•
4,200
43%
G6 74
1547a
154 7a
154%
„149
27
27
37
,36%
:
155
*40'A
Vo
40
"143
37
37
27
-
267a
26%
154%
•
4672
43 74
Co
News
Power &
Jan
„
',1372
•
15% Mar 28
12
Mar 31
24% Jan 5
14% Feb 29
Sep.,
73%
97
"
Jan 14
Mar,13
Mar 16
Apr 6
93
4
11574 Feb 18
i
preferred
American
4674
*153A
16
14%
1474
14%
14%
6%
437a
13 7a
667b
-*15%
150
Amer
807a Jan
share
-1672
■:
17%"
23
Jan 2G -. 29
Mar 22
■>'- 4% Apr 24
57/s Mar 16
68
Jan 10 > 91
Apr 5
157/a Jan 10
25% Apr 5
59
Jan 8
80
Apr 6
33
Apr 19
37
Mar 23
37a Jan 3
47a Jan 21
39%Mar31
43
Jan 21
65
Mar 27
70
May 16
4
Jan 10
772 Mar 31
61
Jan 19
72
Mar 25
7Va Apj 25
8 72 Mar 15
67a Jan 12
77i Apr 8
46
Jan 10
4872 May 6
14% Feb
4 ■ xl97aMarl6
8% Jan
4
20
Feb 15
& Metals
Metals Co Ltd
3,700
•
No par
No par
No par
& Fdy Co
Mach
Amer
46%
13%
13 7b
65%
66 -e
16%
•
"15%
Mach
Amer
;220
Y
.
100
Amer
900
27a
974
Internal
1,300
2 7a
*168
13
1374
,
43
175
*168
175
175
*168
175-
>
46
*
9'/a
9%
9%
"168
45
■
2,100
Y5'.
35
*34 7a
2
No par
preferred
100
Corp„—_—No par
American Invest Co of 111—
1
7'.: 5% conv preferred
—50
American-'Locomotive-:
No par
7%
preferred
100
2 74
2'/a
274
2%
2%
35
35
34%
1,400
?
119
118
119
*117%
119
35
.
:
■
157b
157a
15%.
*15%
40
.
8,900
117a
11%
11%
117b
"11%
100
■
.
,
par
par
par
-10
1
50
1
Ice
Amer
2,100
:...»'
;
497a
*48
167a
167a
.8974
774
*48
48 7a
774
*7 7a
*6%
77i
48 7a
*6%
*48
48 %
100
S
par
6%non-cum
American.
9,200
:
,i
.
.
conv
American
■•2,100
87a
& Leather
preferred
Home Products..
Hide
American
'
67
8
$7 2d
6%
6%
6%*64
67
*64
67
$7
;; -.1,500
70
70
6%
672
67b
674
41
*40 7a
4074
70
697b
*40 7a
3%
3%
3%
3%
41
*65
8%
8 74
•"•774
*48
48%
77%
*33%
*33 74
37a
*40 7o
67a
647a
5%
64 7a
8%
*6%
7%
"6%
"48
767a
34
3%
70
697b
65
*8
8%
76
37a
57a
57a
65
"o%
76
757a
34
69,7a
69 7e
69%
69%
"62
14,800
X757a
41
Foreign Power—
No
preferred
;
No
preferred A——
No
$6 preferred
-No
.American Hawaiian S3 Co_
2,600
I 2,300
22%
4%
Inc„_——1
Export Lines
Amer &
4%
85%
217b
4%
4%
Co
European
American
84
.34
*40 7a
1,000
84
*3 7a
41
*40 Va
'.
227a
75
3%
3%
Amer
83%
3474
74
400
21%
43A
21%
*33 7a
-
$
25
247b
25
10
-...100
20
Encaustic
American
2274
*82 7a
81
74
108.74 Jan 20
1087a Feb 18
1074 Jan 5
14
Mar 10
10172 Feb
7
25
Apr 19
274 Mar 6
8
Apr 25
stamped
Thing—„1
Sees—
No par
Distilling
Amer
700
84
474
4%
4%
4%
4%
4%
"82%
25
25
25
29
.
.
Crystal Sugar—
6%-1st preferred—-—
4,800
28%
—
.;
7
103
29
10374
*103
i
118
1177a
117
117
117
116
11%
*11
900
7
Can
Preferred-Y-
i 3,100
74%
23 %
'
American
280
5
Jan
267a
.
>.1678 May 18
423A Feb 25
132
Jan 4
3774 Jan 14
12672 Apr 12
- 8
May 12
82
Mar 1
1707a Jan
5
33 7a Apr 18
68% Jan 4
23
Jan 26
>-100
Cable & Radio Oorp
■Amer
41,600
1727a
35%
Jan 14
7% Jan... 3
No par
preferred
574%
Apr 25
Apr 25
.
Shoe Co
Brake
Am
-
10
6,800
?
8%
8774
87 74.
1727a
172
172
8%
•
8%
8874
86%
88 7a
1727a
33%
33%
"33%
•
3172
6672
18%
6674
May 17
58
16
60
Highest
$ per
share
674
Mar 21
Apr 5
Jan 5
May 13
1007a May.18
26
v
$ per
20 . Jan 25
374 Feb 17
4074 Apr 21,
.
Mar 29
82
—50
1
preferred
6 %
VAmerican Bosch Corp—
2,600
i
12974
12974
131
8%
87b
88
172
88%
88
88
87b
87a
8%
8%
*8'/a
88
88
V
.
Jan 27
17
Jan
3
1007a
Apr 24 *
40
Apr.19 , 110
Previous
Year 1943
Lowest
.v-
$ per share
share
17% Apr 19
.2
Jan ,4.
2872 Jan 12
10
10
Bank Note
80
4174
41
41
41
131
-
8%
•8%
88
4i;%
inc
Airlines
American
22,700
•
*12974
131
*12974
131
"129 %
4174
4072*
■
143A
4i
r
15
1474
.
Agricultural, Chemical-No par
Amer
American
63%
"627a
No par,
100
Corp—No par
Petroleum
Amerada
..
1,400
16%
*1674
16%
16%
62%
—100
preferred
6% conv
800
62%
1472
9674
33 7a
105
No par
:
Cem—.—No par
1
50
Alpha Portland
2,700
16%
$ per
.Amalgam Leather Co Inc
v
2,400
61%
16%
6172
*60
61
"60
Range for
'
•
Range since January 1
Highest
..
39%
100
•
Lowest
preferred.—
Allis-Chalmers Mfg
4%, conv preferred
1097a
2%
*38
39%
■•
•
5%
400
100
39 7a
23A
2%
23/4
*38
Allied Stores Corp
6,500
35 7a
1097a
10974
; ,'
•
Par
10934
35
35
1093A
19%
x
110
19
18%
2%
"37%
16%
347a
34%
34%
34%
3474
167b
1674
STOCKS
.
Shares
share
997b
997a
110
110
share
16
*99%
"99%
$ per
-1
NEW YORK STOCK
EXCHANGE
•
the Week
1674
153/4
16
16
$ per
$ per share
share
$ per
$ per share
Sales
May 19
May 18
$ per share
-
for
Friday
Thursday
Monday, May 22, 1944
CHRONICLE
& FINANCIAL
THE COMMERCIAL
2090
Jan
114
Aug
11% July
97a Dec
-
a
97a
33
>
Nov
Nov
2072 Mar
39%
Apr
-
THE COMMERCIAL & FINANCIAL CHRONICLE
Number -4283
Volume 159
LOW
Monday
Saturday
Maj
May 13
,
17%
177/s
17%
55
36 %
37
18
120
57%
121
433A
'
44 Va
44%
4434
44%
18%
!
18 Va
18%
18%
18%
83/e
8]A
17 %.
*17
*15
*17
153/4
*98
99%
13 Va
93
'
*49
49%
'*
39
-
13%
47%
47%
93%
*38%
39
110%
31%
30%
36%
.
9
36 3/8
36%
6,300
Best
Bethlehem
18%
•
8%
8%
83/4
17'%
*17'A
17%
15
*15
*88
*15
200
2,400'
131/4
13 'A
13'A
133/s
48
48
483/4
49%."
94
*92%
13%
49%
49 7/a
49%
49%
49%
49%
280'
39%
39 3/a
39%
39V4
39'A
1,000.
39
*92%
111
111
1103A 110 3/4
31
31
36%
.
31
363A
36%
.
*lllVa
10.
115
4
*3%
4
*3%
'
31 Va
31
31 »/4
363/4
363/4
37%!
*3%
4
*3%
6,000
.
40
39%
39%
*39%
393/4
*39%
393/4
393A
393A
*39V4
14 3/a
14%
14 %
14%
14%
14%
14%
14%
14%
'
52% •
*51 %
51%
51%
51%
51%
*51%
51%
53%
*391/4
40'A
14 3/a
51%
*51 Va
•
,
200'
>
14%
•
300
'
41%
47
,.
43%
93/4
*9%
30%
30%
30%
31Va
42%
42%
42%
42%
42%
*42%
43
43
43
47%
X47 Va
47%
47
47
*48%
47%
47%
47%
20%
20%
203/4
20V4
20 Va
19%
*42%
44
42%
42%
'
•
*18
18%
18
18
8%
9
9
44
*18
18%
'
-
8%
8%
-
8%
119%
6%
8%
8%
119%
120
*119%
'■•••■
■93/4C
30%
9%
*42
'
18
18
93A
30'/a
20%
20%
*42
9%
30%
*417%
47
20%
9%
30%
47
417/a
9%
31
9%
303/8
2,500:
,
52
*30%
9%
9%
30%
200
f
14%
Borg-Warner
"...
63%
,
120
120
*9%
5119 %
,
-
3,200
(
18%
>
,
400
800
203A
*42
43
,
18%
*18%
>'
r
44
20 3A
*42
2,100.
r
18 3%
21
37 y4 Feb
24
X46
May 18
27 3A
Jan
3
19
Mar 11
16
4,500,
100
16
5
45
May 12
Jan
26
52% Mar 13
_No
par
88% Apr
18
-No
par
46% Jan
4
——1
33% Jan
26
u.-
—
*120
*120
123
60%
60%
7%
'
*29
119%
120
120>•;
*119%
12%
r
4% '
4%
4%
63
63
*50
*62%
50.
50%
10
10
*28%
120
r
V 29 %
*2%
3
13%
13%
13%
76%
76%
a75 %
26%
*55
43/8
43/a
13%
*63
64
*63%
3
50
*50
10
10
293/4
29%
29%.
9%
10
*29 %
293/4
*2%
2%
xl3%
Oct
3
383/s Mar 11
26 3/a
Jan
39
July
33A Jan
3
5% Mar 22
2%
Jan
6%
23
500
21
*21
21%:
900
28%
5,300
273/4
28%
28
28%
56
553/4
*55
17
16%
16%
*16%
25%
25%
25%
25%
*38%
40
*38%
9%
9%
9%
*44
45%
*44
'*38%
40
9%
9%
*44
45%
*108%
7%
*7
7%
*48
49%
*48
*27%
4%
28%
Jan
38 V4
Dec
12 3/4 Jan
3
16% Mar 13
11%
Nov
14 Va
Nov
—15
40% Feb
1
52
Jan
45
Nov
Bridgeport Brass Co
Manufacturing
'Briggs & Stratton
—.
4
May 12
10% Mar 17
8%
Nov
12%
27
Jan
28
32 % Mar 21
20%
Jan
301/2
par
39
Jan
14
43
33
Jan
44
40% Jan
4
37%
Jan
14% Jan
13
.22
10
9%
Jan
44% May
181/4 Jun
393A Jan 18
43
Mar 16
29 3A
Jan
42% July
13
Jan
8% Jan
5
-
-No
Brooklyn Union Gas
par
No par
Brown Shoe Co
par
17% Jan
———.—5
*—..100
34%
150
17%
18
18
26
26%
26%
26%,
46
32%
73%
*7%
*48
49%
*39%
9%
9%
*44
45%
73/8
*7%
,y
*48%
49%
*109%
109%
1093/a
110
28%
28%
*28%
29
4%
4%
4%
110
273/4
34%
152%
*151
45%
44%
46
47
46%
32%
32%
32%
323/4
32%
-118%
118%
118%
35%
47
32%
1183/4
'
119
119
34%
119
35%
35%
11151
152%
3534
*383/4
40
9%
9%
*44
,.45
7%
*7%
*48%
49%
110
110
28
28%
4%
4%
34
46
32%
9%
*151
34%
151
*118%
17%
25%
*44
.
*17
19 3A
3 Va
93/4
9%
*22%
*9 V4
7%
500
47%
2,400
Caterpillar Tractor
33
6,300
Celanese Corp of Amer—
1,150
17%
9%
9%
23
*22%
9V4
93/4
32
31%
5
5
*57 Va
57%
*56
5
58
A:
.
i:
9%
.57.3/4
*110%
19%
1,400
3%;
1,300
-
111 %
30
10 3/4
103A
2,900
24%
1,300.
31%
5
*9%
.10
*9%
10
9%
118
*1143/4
118
*1143/4
118
32
3lVa
*31%
31%
31%
5 J/4
5%
5%
5%
5 3/a
31
31%
5%
•'
60 %
593A
60 %
603A
623A
61%
62.
58
58
*56%
58 %
58%
58%
59
59
*17%
173/4
17%
173/4
24%
*23%
24%
Cerro
2,500
Certain-teed
^
1,540
70
.
Champion Pap & Fib Co—..No par
6% preferred
,-100
Checker Cab Mfg—
—5
110%
110%
*110
110%
230
31%
31%
*30
313/4
200
*12%
12%
*12%
12%
*12%
123/8
12%
44%
443A
44%
44%
45 %
45%
7Va
143/a
14%
6%
*63A
14%
143/a
,
53/4
6
22%
22%
7
14%
5%
22%
22%
22%
22 y8
54
52%
54
53%
*153/4
16
*153/4
16%
*17
173/a
*17
173/8
*45
45 y4
45
45
52%
523A
53
*14
14%
V *14
14%
*15
15 3/a
*15
15%
6%
143/4
7
14%
55%
223/4
54%
16%
173/a
17%
*45'A
46
2%
3
"-*24%
26
453/s
53
45%
53%
*53
23
55 Va
•
preferred
50
Chicago & Northwest'n w I—No par
5% preferred wi-100
Chicago Mail Order Co
1—5
Chicago Pneumat Tool
No par
$3 conv preferred
No par
Pr pf ($2.50) cum div—No par
Chicago Yellow Cab
No par
Chlckasha Cotton Oil
10
tChilds Co—
No par
3,800
55%
21,500
16%
16%
900
17%
17%
700
45%
*44%
45%
300
45%
53
53
-
*52'A
*14 Va
14%
*13%
143/a
14
15%
*15%
153/a
*15
2%
2%
23/4
53
14
;—50
Chicago Great West RR Co
16%
*15
23/4
:
110
300
v
153/a
2%
23A
2,100
5%
'!
*25%
26
*24 5/a
26
*24%
25
*245/a
25
245/s
245/8
50
84%
84%
84 3/a
84%
84%
85
84%
85
X84
85%
84 5/8
85 %
7,100
19%
20
19%
20
19%
20
20
20 Va
20
203/8
20
20 %
8,500
105%
105%
*1055/a
106
*58 V4
59%
*58%
59
*8%
8%
*8%
42
42
*160
*41
40 %
40
,40 y4
*91%
55
32 3/a
113%
40
*106%
93%
*52
87
*112%
108
106
583/4
108
41%
87
40
*106%
93%
*91%
52%
52%
32%
32%
8%
41
32%
32 %
35
150
*149
150
*114%
115
*114
115
*114
35%
87
*83
114%
40
93%
*1053/4
*59
106
60
*8%
60
8%
42%
*104%
7;
43%
8%
*43
*165
40
*106%
107
*82
114%
40
*106%
57
114
40
40%
107
*91%
93%
*91%
*52%
55
*52%
323A
.
34
35%
333/4
355/8
150
*149
*115
1,300
333/4
33%
353/4
35%
*149
150
—;
No par
100
100
:
5
City Stores
Clark
Equipment
No par
& St.,Louis Ry. Co
-100
O. O. C.
*82
55
353/8
City Investing Co
700
43%
114
93%
*149
8 s/a
87
*91%
„
70
60
—25
—3
Copper Co
190
106
114%
107
Chile
Chrysler Corp:
City Ice & Fuel
6%% preferred
*165
*52%
55
35
87/a
42
*114
40%
*149
35%
A
108
150
60
*160
114
52%
34%
83/4
41%
114
106
*58%
— —
*149
*34%
106
59
*83
*91%
32%
106
8%
*160
*82
87
*1123A 113%
*106 V4
41%
*160
—
*82
8%
5%
preferred
"60
Clev El Ilium $4.50
900
40%
107
Clev
50
5%
"To
55
33%
2,100
35%
1,900
150
100
No par
pfd_
Graph Bronze Co
preferred—
(The)——1
a
100
jan
25Va May
6
May
5Vs
*
Apr
18'A July
Apr
283A Mar 11
22%
Jan
30% July
56 3A Mar
8
52 3/4
Jun
56
11
%
Jan
1%'Mar
28
6%
Dec
9Vi
Mar
Apr
15% Jan
3
18 Va May 18
X133A
Nov
193A
23 'A Feb
8
27 Va Mar 23
13%
Jan
271/4 Dec
333/4 Jan
7
40'/a Mar 21
29%
Jan
38
11% May
47% July
3
10 % Feb
18
•63/8
Feb
Apr
4
45% May 11
36%
Jan
6% Feb
19
4%
Jan
43% Jan
4
97
4
83/a Jan
42 3/s
Jan
273A May 18
8fe
Mar 16
4
40
Jan
97/s Apr
46V4 July
X85
Jan
97%
48% May
28
30 3/4 Feb
x43A Mar 14
25% Jan
3%
_
Jan
Jan
4
33
Apr
19
39
Mar 16
32%
Dec
146
Jan
5
151
May 13
127%
Jan
4
50% Mar 13
44 % Jan
19% Apr
24
40% Jan
131% Apr
20
2% Jan
13
107
Jan
31
8
Apr
Mar
110 3A May 19
22
Mar 13
3% Apr
21
111
May 12
40
15
Mar 20
Dec
3IV4 May
5 3/a Apr
393A
Dec
147,
Nov
Dec
54% July
40%
Jun
120%
Sep
Jan
143A
Apr
16%
Nov
21
16 3/a
Jan
1%
Jan
•
July
233/B
Jun
3% Mar
973A Jan
111
Aug
% Apr
22
3
Jan
18% Jun
19
26% Mar
8
13
Jan
25
7% Jan
15
103A May 11
3
Jan
Feb
19
Mar 28
98
Mar
115
Sep
30% Feb
15
37% Jan
4
X33
Jan
41
Apr
4% Apr
19
6% Jan
25
3
Jan
7%
Jun
Jan
72%
Oct
110
May
May
116
1
653/a Mar 13
8
60
32%
Dec
8%
Nov
Mar 29
163% Nov
193/4
17% Apr
13
18% Mar 22
23
Jan
3
Jan
24
Jan
4
27% Feb 24
4
112% Feb
18
108
99%
Jan
109
Dec
7
8%
Jan
34
July
July
34% Mar
27% Jan
4
Feb
18
Apr
July
13% Mar 16
48
11
Apr
5% Jan
19
6
333A
Jan"
50
Mar 24
2%
Jan
3
18% Mar 24
7%
Jan
4% Jan
3
2%
Jan
Jan
4
7% Mar 22
25% Mar 22
28% Feb 24
57% Feb 24
9 Va May
17Ve May
7% May
10%
Jan
21%
Jun
Dec
44
18
3
21% Apr 25
51% Apr
18
9
Mar
183/a Mar 14
Jan
16%
19% Mar 16
15 %
Jan
22
38 3/4 Jan
45% May 18
36%
Nov
41% May
Apr
47
Jan
53
Apr
27
48
Dec
54
13
Jan
143/4 Jan
22
11%
Jan
153/4
Apr
16% Jan
29
133/s
Jan
18
Jun
14% May
l3/8 Jan
3% May
24% May 19
773A Feb
7
8
1
Dec
May
33A May
5
243A
Jan
32%
86% Mar 16
67%
Jan
85% July
203/8 May 18
10%
Jan
153A Aug
28
J an
Apr
143A Jan
5
Jan
12
107
Feb
5
963/a
Jan
563/a Mar 28
65
Jan
4
27
Feb
63%
Dec
Jan
8%
Jun
104
6 3/8 Jan
12
353A Feb
17
148
Jan
7
76
Jan
3
111
Apr 21
37% Apr 20
106
Mar 27
9% Mar 17
44% May 10
Apr 10
78% Jan 29
155
Feb 26
74%
Dec
Jun
28%
Jan
42%
Deo
Jan
12
IOIV4
109
38% Mar 15
111
145
25
30% May
18
Feb
41% Jan
52 % Mar 22
Feb
39% July
Mar
67
Jan
50
34% Apr 20
Nov
123
Sep
109%
gtd——50
145
32 Va
106
3
7%
3
23A
115% Jan
Special gtd 4% stock
Climax Molybdenum
Cluett Peabody & Co
No par
No par
—100
6
15 3/8 Feb 24
3
16% Jan
92% Jan 10
53
Jan 21
Preferred
»
16
92% Feb 26
Clev & Pitts RR Co
93%
18
Jan
11% Jan
'
2,500
17 %
,
Ol&SS
No par
East 111 RR Co
&
3,300
17%
14'/a
2%
4,200
'
3/s
23
15%
2%
2%
6
.'
y
16%
163/a
173/a
200
24
55 'A
59%
16%
15
6 Va
543/4
54%
16%
14%
14%
23
54
Chic
——5
25
Chesapeake Corp of Va
Chesapeake & Ohio Ry~
2,500
23%
223/4
23
*17
7,700
7Va';.
6%
23%
223/4
121/4
45%-V
7
235/a
23%
22%
53
•
'
15%
233/a
23
22%
*15
7 Va
14%
6 Va
6
6
7.
22% Jan
Apr
3
.
12%
45%
63A
44%
*6
No par
45%
12%
44%
12%
44%
18
20
57
Chain Belt Co
31%
83%
58
900
110%
Nov
—100
300
*30%
65 %
100
Certificates of deposit
173/4
*1093A
*12'A
No par
—1
Products
25%
31%
11
33/8 Jan
15% Mar 16
203A Apr
*17%
110 %
Jan
80% Apr
1
*24%
110%
9%
3
18% Feb
173/4
*29%
18
Jan
25%
30 %
25
67% Jan
17
24%
110%
2%
2% Apr
12% Apr
8%
m!%
30%
32
Jan
12 3/» Mar 13
18
*110%
110%
20%
Jan
24
24
29% Mar 13
11
prior preferred
6%
8
28
Jan
-100
—
de Pasco Copper
2,100
5%
Oct
Feb
10% July
29% Nov
Feb
No par
Century Ribbon Mills
Preferred
59%
58 3/a
400
9%
May
49
Jan
26 3A
Central Violeta Sugar Co__
*116%
75
Jan
5%
122% Mar 16
tCent RR of New Jersey
24
93A
Jan
21%
Mar 27
52% Mar
Jan
100
103/4
24
118
41
6
103/i Mar 13
68
113
No par-
10%
6% May
4
7% Feb
Foundry Co—
—1
Lt 4%% preferred—100
Central
Jun
8% Jan
43% Apr 25
9
Central 111
24
17%
8%
3%
3%
10 Va
24 y4
*52
110%
19%
19%
111
23%
18
*21%
*110
10
24
*5%
*3Va
3%
23 Va
*17%
22%
19%
20
23
*23%
14%
Vi-
10
*116%
313A
58
i3
llO %
Jan
96%
5%
22%
*9%
118
5
*56
*19%
3 Va
Corp
93/4
9%
23
19%
Jun
23A
20
preferred
Central Agulrre Assoc
17%
Oct
15%
No par
1,800
11%
17%
31Va
109%
—100
Celotex
11%
1%
35% July
Jan
28
5% Feb
Apr
Apr
May
Jan
% Jan
No par
No par
2d preferred
118%
17
32
*30'A
250
118%
11%
lll3/u
Co-
Preferred
10 Va
Jan
20%
105
9%
4
par
24%
8
9
13% Mar 16
3
1
—25
100
47%
118%
3
24
-5
32%
173/a
3%
I)
Mar
30% Mar 16
17
12% Jan
6% Nov
24
110% Mar
Apr
3A Jan
A—1
—10
Co
33
11%
19'%
Steel
47%
17
*110
Carpenter
34
27% Jan 25
533/4 Feb
Ry——100
Ohio
32 3/4
118
29%
24% Jan
No par
5
:_100
25
class
Administration
$3 preferred A
Clinch &
Carolina
(J
18% July
Nov
par
No
—
47
;
11%
3%
Pacific Ry——
Mills-
Case
17%
19%
Co_
Ry
5,200
80
Jan
16
50
152'A
11%
112
Southern
•36%
151
14%
20% Feb
—1
No
_.
Zinc-Lead
Carriers & General Corp
151
193/4 Mar 18
May 19
May 12
6
35%
35%
4
Jan
Jan
Packing
preferred
Canadian
19
7% Apr
16 3/4
54
California
5%
541/4 Aug
—100
Bldg 1% preferred—100
»
9"% May
116% May
3
conv
Jan
Jan
Jan
2,100
17%
19%
•■5%
3
Nov
4
—10
118% July
43
1
preferred
Bush Term
Jan
76%
31
Terminal-—————
104%
May 18
63% May 17
8% Mar 13
107
—
10% May
27
Jan
126
par
4%
11%
*116%
110%
520
28
17%
*3%
20% July
Jan
73/4 Mar 13
1
.—100
No par
—..-No
Bulova Watch
..
6%
5% Jari
17
No par
—
*151
152%
par
-—1
-.
*4%
43%
11%
*110
Co
Capital
49%
1103%
17%
3 VB
Bullard
Cannon
11'A
118
*116%
13,700
45
11%
19%
No
Forge Co
Canada
11%
111
*110
3,200,
40
17%
11 'A
Jun
6%
120
98% Jan
Campbell W & C Fdy—
Canada Dry Ginger Ale
17%
25%
9%
14
Apr
July
10'% Mar 13
47% Jan
3,200
17%
45%
Apr
,
193/a Jan
4
Jan
No par
*
Buffalo
116
100
preferred——
$5 preferred
Budd
Wheel
Calumet & Hecla Cons Copper-—5
25%
40
1%
No par
3,100
17
6%
Mfg
(E G)
6%/
6%
6%
Budd
Callahan
u
28%
4%
10
6ya
*385%
May 19
x47% May 16
8% Jan
—No
1,400
6%
40
Feb
20
par
_No
._
40
par
_No
_No
Co
37% Jan* 7
5
%
%
6%
109%
4%
•56
*55
56
%
*28
28%
*4y8
28
28%
*3/4
109
109
28
*55
56
3/4
*7
49%
*7%
*48
■
100
f
270
263/4
6%
3'
13%-
56
ir
*2%
77
26%
6%
3
13%
21
6%
Apr
2.50
Bearing Co__
preferred
a—■—-30
Butte Copper & Zinc—
—5
Byers Co (A M)
No par
Participating preferred
100
Byron Jackson Co
?—No par
*76%
76%
.
Dec
111
96 % July
34 Va Jan
1,100:
13%
203/4
,■
35
5
Butler Bros
767/a
76%
3/4
July
Jan
(assented)-lOO
2,200
-
13%
203/4
273/4
51
17
4
May 18
40% May
30
Brewing Corp. of America
80:
110.
13%
753/4
*55
Jan
Jan
Bush
50%'
10
2%
13%
Nov
38%
22%
Burlington Mills Corp—_
5% preferred
Burroughs Adding Mach
65
50
20%
17
.
64
*29%
85
9
2,300
43/si
50
10
Jan
4
3
95
31JA May
5,600.
12 S/8
495/a
293/4
*2%
800
*62%
10
25
*
43/8
*20
6%
300
43/8
a753/4
6%
2,900!
4%
75%
*3/4
-30%:
12%
21
%
313/4
293/4
12%
*29%
73/4
313/4
30 3/8 '
12%
64
1,210:
ii
'108% -108%-
31.3/4
12%
21
%
4,500
12%
76%
20%
17%,,.
163/4
108%
55%
*20
173/4
12%
493/4
41%
Feb
503/4 Feb
3
Briggs
80
1,500
100'
108%
10
3
31.3/4
31%
124%,
19
293/4
493/4
29%
173/8
183/a
15,700
62%
73/4
•
108 %
4%.
56% May
Jun
283A Jan
Bruns-Balke-Collender
*18%
7%
19
■!29%
*62%
65
183/a
108 %
4%
9%
*13%
.
4%
50%
*
293/4
123/a
9%
29%
*2%
'
313/s
29 3/8
July
21'A Mar
lb
Bucyrus-Erie Co—
*7% preferred
63
63%
7%
7%
183/8
124%
108%
29%
*108
12%
12%
12%
x63
63%
73/4
31%
*31
293/4.
100
8
2,700.
90'
-
7%
"7
126
126
125
183/a
17%
Jan
Nov
Jun
109% May
1,000
.9
9
8%
7%
7
7%
73/4
19%
19
"
8%:
183/a
19%
109
124%
12
6P/4
*7%.
313/8
•29%
*108
6%
123
*18
19
31%
29% 1
109
6%
61
73/4
18%
19;
ib% ,18%
31%
31%
3/4
123
60 3/8
7%
*18
18%
*108
123
60 '
7%
*18
6
19V4 July
Jan
113/4
29
153/4 Feb
Jan
76
99% May 15
4
11 %
9%
Apr 10
% Mar 31
16
13
v
6% •
6%
18
4
93% Mar
par
Airways Inc
Bristol-Myers
Jan
Dec
193/4 Mar
Jan
13%
9'A Mar 18
3
40
Jan
6%
14 'A Mar 14
-100
Corp—
Roller
Bower
Braniff
73/4 Jan
par
Sep
69 % Apr
121 Va July
Jan
16'/a Jan
& Brass—
Maine RR
Boston &
Nov
110%
May 16
por
(The)
Co
Jun
121
100
Borden
37
2
preferred
4%%
Jan
54
62% Mar 16
4
5
Inc
Stores
3,600
>
4
4
4
Bond
8%
19% Mar 22
153/a Jan 20
5
Class B————
..
July
por
_No
—
class A
1,200
.
•
4
*3%
Aluminum
Ami Co
Bon
Nov
38
56 'A Jan
Airplane Co
Boeing
Bohn
500
95
57
Jan
115% Feb
Bliss & Laughlin Inc
Bloomingdale Brothers
92
Feb
22 3/4
_No
Blumenthal & Co preferred.
473/4
17%
543/4
par
-No
10
j
13% Mar
24
Mar 13
19
56% Jan
-No
Co
J per share
39 Va Mar 25
4
100
*
Highest
$ per share
$ per share
537/e Apr 21
333/4 Jan 28
par
1
-No
(Del)
30
15%
100
*98
•
No
—
........
Steel
Blaw-Knox
5,600
•
.
17%
*17
99%
800
8%
—
preferred
Blgelow-Sanf Carp Inc
Black & Decker Mfg Co
1,400
%
Co.
Jan
17
par
pfd $2.50 div series '38_.No par
7%
1,000:
18%
8%
15%
99%
■
.No
Loan
Foods
7,700
..
13 >/e
31V4
36
183/4i
121
92
?9
i4o%
31
6c
58 3/a
»
Best
473A
,
49%
'""*49%.
36
■31%
35%
.
19
Pr
600
Lowest
Highest
$ per share
Par
Indus
Beneficial
100'
45% -'•45%
46
"*18%
*99
110%
110%
;io%
*303/4
46%
493/8
38%
38%
93
X45%
18 Va
15
98
13
13 V8
48%
45%
58V4
"4
Lowest
r
56
*120%
"
■
38%
•
18%
58 Va
120%
17%
*91%
13 Va
*91%
48%
:
57%
120
>
•
.
Year 1048
Range since January 1
STOCK
EXCHANGE
,
2,400
(
'
183A
18%
18%
57%
121'
83/8
15%
98
*37
173/4
18%
17
*15
99%
*47%
13% '
*91
no
15%
99%
*54%
38
45 Va
•
,
.
8%
17
17%
*15
*47%
8%
83/8
56
*36%
57%
18%
81/4
17%
*54%
121
43%
17%
173/4
17%
37
183/a
58
120%
57%
120
.
Shares
56%
37
18'A
18
18
57%
'
120
$ per share
*-•
$ per share
YORK
NEW
the Week
17%
173/4
55
37
17%
57%
57%
*118
May 19
'■
-
*54'A
173/4
56
17 3/a
•
363A
May 18
$ per share
Sales for
Friday
Thursday
May 17
$ per share
Range for Previous
STOCKS
PRICES
Wednesday
*36%
'
56
363/4
SALE
.
*54
17%
*54
HIGH
May 16
,
$ per share
$ per share
AND
Tuesday
•
15
2091
373A Mar 13
151
Apr 13
116 3/4 Aug
Jan
108%
Dec
84
Jan
921/2
50
Feb
54
Sep
Sep
33%
Nov
48% Mar
40
July
33%
Jan
142
May
153
Sep
88
Jan
123
July
/
1143A
II43/4
1143%
*66%
67 V4
*66%
67%
*66%
67%
*66 %
67 %
*66%
67
66%
66%:
27%
27%
275/a
27%
273/g
27%
27%
28 %
28 Va
28%
28%
283A
106%
106%
106 %
21 Va
*111%
106%
16%
*16
106 %
27%
17%
28
112
-
18
107
*106%
28
28
112
*112
107 %
28 %
113
x283/a
X112
*106 5/a
29
28 Va
112
%
*112
31%
130
29
16-%
17
17
17%
17%
173/4
173/4
18
18 V*
18
19
19
19%
19%
193/a
19%
20
20
193/4
1,500
100
20%
18
*17%
18
313/a
313/8
31
31
31
31
30%
303A
16 3/a
*17%
31
see
page 2099
*30%
17
*165/a
17 Va
*16%
17
400
•
18%
183A
31 Va
X30%
305/B
30%
31
31
X30%
30%
303A
303A '
.18
18
18%
20
113%
16%
*
For footnotes
1,500
4,100
107%
16 3/a
*17%
31%
31 Va
*273/8
112
19
18%
31 %
*106%
115%
16 3/a
'
17%
18%
*17%
106%
*27%
*1113/4
112
115%
115%
•
Coca-Cola Co (The)
Class A—!—
-—No par
Colgate-Palmolive-Peet
$4.25 preferred
Collins & Aikman
5%
conv
preferred
Colo Fuel & Iron Corp
No
par
No par
No. par
NO par
100
62 % Jan
11
23 % Jan
6
103% Mar
2
253/4 Apr
25
109% Feb 29
No par
143/4 Apr
19
1163A Mar 14
61
Dec
28 3/4 May 19
16%
Jan
12
xl03%
Dec
67% Apr
108
Jan
29
293A Mar 16
Jan 11
114
19
2%
Jan
3%
Jan
3
Jan
1,050
^Colorado & Southern—
—100
1,980
1st preferred—100
4% non-cum 2nd preferred—100
Columbia Br'd Sys Inc cl A
2.50
Class B
2.50
12 % Jan
20% May 19
13
183A May
220
2,400
700
non-cum
Jan
Jan
Nov
3
Oct
Dec
28% July
Jan
13 3A
113A Jan
4%
17%
108
8
May 19
17% May
68%
25
109% July
.
114%
Oct
193/a July
-"19
Sep
19% Sep
173/4 Sep
26 % Jan
31% May 12
153/4
Jan
263A
Dec
25% Jan
31 Va May 13
15%
Jan
26%
Dec
2092
THE COMMERCIAL & FINANCIAL CHRONICLE
NEW YORK STOCK
RECORD
f,OW AND HIGH SALE PRICES
Saturday
Monday
May 13
May 15
$ per share
4
$
per
May 16
$ per
share
4
80
80 ¥a
4¥a
*80 7a
807/a
*80
80%
*72
74
*72
7'4
*72
74
*87V2
89
*88
89
88
*177a
*17
18
*42 ¥2
*23%
t
88
88
*86
88
18
*18
18 ¥4
Jun
3
85 ¥2 Mar 14
4072
Jan
77 ¥2
Sep
Feb
7
80
37
Jan
73
Oct
89
800
Columbian
No
par
84
Feb
14
79 ¥2
Jan
18
700
Columbia
No
par
No
par
16¥4 Apr 24
39¥aJan 25
98¥2 July
19% July
427a
437a
42 ¥4
42%
42%
42 ¥2
43 ¥a
427a
43 ¥a
15 ¥4
15
15
15 ¥4
15 ¥e
157a
15%
15 ¥4
5,300
iJ
%
%
14
12,700
26 ¥4
1b
83
26%
83
26 ¥4
26
¥4
83*
833/4
84 ¥4
26%
263/a
2678
26 ¥4
26%
107a
107a
10%
10%
10 ¥4
103/4
*10 34
11
23%
23 %
233/4
233/4
24
27%
"21 Va
275/a
27 ¥4
2 7 ¥4
*106%
107 ¥4
106%
1063/4
*106};}
3%
3 ¥2
3%
3 ¥2
21%
21 ¥2
21 ¥4
213/a
104%
104%
104-%
104%
♦1063/4
3%
3%
3 3/8
21%
1043/4
1043/4
4 ¥2
4%
43/4
47a
21 ¥2
21 ¥4
21 ¥2
21 ¥4
1043/4
43/4
21 ¥
12 ¥4
20 ¥2
10 ¥2
10%
103/4
30%
31
12 3/4
125/a
123/4
20%
30
12 ¥4
30 ¥2
203/4
21
10 ¥2
>
29%
20 ¥2
.30;
3l¥a
127a
«
V
•
•
preferred—
prior
Film
2.700
45 ¥» Jan
11
293/a
Jan
44%
7
9 ¥2
Jan
16
16
3
3^!
Jan
3
877/a Mar 11
36%
Jan
82
25
-
Dec
24% Jan
3
2«% Aur
21%
Jan
27
July
27a
Jan
11
1772
Jan
25
Jun
247a
Nov
8 ¥4 Feb
21
y8
% Jan
23
11 y4 May 19
24-% karll
10
104 ¥2 Jan
29 ¥4 Apr
107
Jan
27
3 ¥2 Feb
17
5
10
27,
Jan
20 ¥2 Jan
12
11
90
1 ¥a
1074 Jan
'
Jan
4
Jan
%5
37a
Jan
4
15%
Jan
106% Mar 21
'
1027a Jan 15
24
9174
Jan
8
¥2
Jan
37a May
77a
Jan
19% May
117» May 11
2 ¥4
Feb
31 ¥4 May 19
5% May
105
12
20%
•
*15%
49
50
*15
16%
*47
'
16
*47
15 ¥4
*14 ¥2
15
15
*15 ¥2
15%
15%
\
104%
15 ¥4
153/4
47%
153/4
15 ¥4
1578'
8
500
*104 ¥4
1043/4
104 ¥4
10474
1043/4
1043/4
23%
23%
8%
8%
*104 ¥4
104%
104%
*23 ¥a
23%
23 ¥a
23%
23%
23 ¥4
23%
233/a
23 ¥1
8 ¥2
8 ¥2
*8 ¥4
8 ¥2
8%
8 3/a
8 3/a
8 5/a
8%
107%
107%
*107 ¥4
108%
*107 ¥4
108%
108%
108 %
36 ¥4
36 ¥2
'36%
36%
36 3/4
37 ¥4
3778
*108
♦
104
,
Nov
297a
15¥aFeb
24
9¥a
Nov
21 ¥2 Mar
3
223/a Feb
23
17 ¥2
Nov
27 ¥4 Mar
43/a
Jan
16
Aug
7'
Jan
18¥4
Dec
33% Jan
47 ¥2
370
44%
5%
I
6
5%
'
11 ¥4
11
44 ¥4
*44
57/a
.
31 ¥4
31 ¥4
31 ¥2
3l¥a
11%
44 ¥4
44%
44%
44%
■5%
11%
*11-
11 ¥4
*11
37
31¥2
31%
31 ¥»
26%
*25
r12%
12 %
12%
*123/4
13 ¥4
•41
41
41
*41
41 ¥2
*25
26 ¥a
*25
*12%
41
-
II
11
50
*49
50
17%
*17 ¥2
18
*10% "11%
*25
26%
"
11 ¥4
"
:
6
11
437a
44 3/a
57a
57a
317a
317a
*25
26%
¥4
2,5002,700
Continental Baking Co
109
'
39
•
200
'
32
>'
■
14 ¥4
14%
42
11%
11%
49
49
187a
18 3/a
42
187a
"
*49
17 ¥2
*49
50
177/a
47 ¥4
47 ¥4
47 ¥2
*47
*49
47 ¥4
177a
18
47%
47%
48
48
Continental
Continental Steel Corp—
21
48 ¥2 Feb
21
1027a Jan.
5
'1043/»Feb
2
89
237a Mar 28
16
Jan
2374
Jun
10
x43/a
Jan
1172
Jun
96
Jan
11072
Sep
26¥a
Jan
367a
Jun
Feb
15
5
109
32% Feb
10
39
107a Apr
No par
Cooper Bessemer
No par
290
Oil
$2.50
18
*5
543/4
176 ¥2
5
5
2%
2%
.5%
2%
2%
55
54%
176 ¥2
176
40
557a
557a
55%
175%
175 ¥2
*174%
Conv pref 5%
Cornell-Dubilier
990
Corn
Exch
4,600
175%'
5 ¥4
5%
5¥al
2%
2%
2 ¥2'
5%
5%
*5
5 ¥4
*2 3/a
2¥a
*2%
23/4
2%
176 ¥2
56 ■■■¥
55 ¥4
55
55%
175¥2
5 ¥4
*175"
175%
Corp
297a Apr
14
*
24¥2 Apr 19
12% Apr 24
1
22%
22%
106%
106 ¥2
22 ¥4
*
*17 ¥2
17%
*30
22
106
22 ¥4
.22
*30
*47
47 ¥a
16 ¥2
16 ¥2
¥
*
107
Corn
Products
90
'
-
103/4 Jan
series———_50
Electric
Bank
47
Corp.—_1
4
25
Coty
700
Coty Internat
--100
Inc
•
1
!
237a
450
19%
197a
19%
20
30%
303/4
31
31%
3174
32
47 ¥a
47%
*47
47 ¥4
*47%
47%
163/4
16%
167a
167a
163/4
167a
167a
*98 ¥2
99 ¥2
987a
993/a
987a
30 ¥a
*30 ¥4
197a
•
Crosley Corp (The)
Crown Cork to Seal
$2.25
300
Crown
3,000-
30
30
30
29 5
*76 ¥2
78
77
77
*763/4
*24
24 ¥2
24 ¥4
24 ¥4
13%
13%
13%
13%
:
a
24
-
13%
30 ¥4
30 ¥4
30 3/a
30 ¥e
77 ¥4
77 ¥a
77%
76 ¥»
76 ¥4
*76 3/4
24
24
243/4
24 ¥2
243/4
24 ¥2
160
133/4
133/4
137a
14 ¥4
•
30%'
•
14%
14%
14%
600
•
150
*116
116 ¥4
24 ¥2
•
24
*120
116
*120
24 ¥2
150
*120
*116
,
116
-
24 ¥2
24 ¥2
'
150
,
116 ¥4
*1163*2
24 ¥2
24¥a
-
25
*120
145
*120
*116 A
116 ¥4
*116 3*2
15,800
116 ¥4
25
25
t-
25%' '
24%
25%
*23 ¥2
24
24
24
24
24
24
24
106
*105
106
*105
106
105
105
25
24
*104%
24
100
:
*105
preferred
&%%
\
5%
*101
*41%
5
106%
Cuneo
Press
5%
5%
5%
*101 "
104
42%
42
¥4
42
5
5%
53/a
104
*101
¥4
*42 ¥4
5%
5
5%
5 3/8
104
*101
42 ¥4
43
5%
5
104
*101
423/4
4274
5
5
5%
5%
5%
53/a
104
5%
*101
42
197a Jan
5/a
600
13,800
157a
3,300
16
*109 ¥4
114%
22%
22%
*7%
15 ¥2
7%
15%
114%
*110
.
15%
*110
15%
15%
1143/4
*110
22 ¥a
227a
23
23%
7%
1V4
7%
16
15%
1143/4
*110
11474
22-%
22%
1574
153/4
Prior
23 ¥4
*110
1143/4
23 ¥4
23
23%
1,600
7%
200
137/a
37 '
Feb
29
Jan
173
22
27/a
22
il
Jan
10474 Jan
20
Jan
3
7
n
237a May 18
109
24
Apr
617a May
18674
Jan
3 ¥« ja
Sep
6
May
2¥2 May
14 ¥2
Jan
Mar 14
95
Jan
Apr
16 ¥a
Jan
227a July
10872 Aug
23% Mar
Jan
23% July
6
1
347a Mar 22
187a
Jan
3
47¥aJan
27
377a
Jan
5
15 ¥2 Feb
9
173/a Mar 20
117a
Jan
—100
100
i—10
213/a Mar 16
97 ¥a Jan 20
9
■
Jan
69
Jan
4
80 ¥2 Mar
3
11% Feb
10
Jan
25
Feb
4
223/4 Jan 18
30
5
22 ¥2 Jan
101
4
Cushman's Sons Inc 7%
—1
pfd
Apr 25
333/4 Mar 16
100
—No par
2774
31
Oct
47
Oct
17
Oct
Nov
38
July
827a July
2274 Aug
7%
Jan
14%
Jun
Feb
11572
Dec
92 ¥2 Mar
106%
Jun
105
May 10
29¥2 Mar 15
107a
25
May 19
106¥2Feb 11
Dec
Jan
18
Jan
100
Jan
6
1%
Jan
Jan
12
30 ¥2
Jan
473/4 Jan
6%. Jan
12
17,
Jan
63/i Jan
118
11/
5 ¥2
7
177a Mar 23
Jan
24¥<Mar
997a Aug
Jan
X66
147a May 19
125
Jan
9%
9
116¥a May 10
115
Jan
3
21 ¥a Apr 28
1
Cutler-Hammer Inc
4
*
Apr 25
Apr 24
Apr 25
15% May 15
No par
-
.
Jan
5¥a
97
41
5
No par
81¥a
283/« Mar 10
4
112
—100
No par
(The)
Mar 14
28
106
-
100
20¥2 Jan
*
—100
Inc
A
47
Dec
6¥a Jan
Apr
Aug
177a Aug
'
58 ¥2 Mar 14
183
15
53
Jan
537a
493/a May 19
-•
•
Dec
3
No par
preferred
Class
Jan
Jan
Jan
Curtiss-Wright
"
15%
11
,
163/4 Jan
No par
preferred-
Curtis Pub Co
x9%
'45
'
$7 preferred—-
"5%
5
5%
6,300
103
42 3/a
43
4%%
'
4
;
Cudahy Packing Co
40
Jan
6
100
1,200
/
'
2774 July
Mar 15
21% Feb
-i
1,600
,-i
•
106 ¥2
•183/4 Jan
15% Mar 15
3
'
*104%
Jan
45
preferred
conv
25 ¥2
par
preferred—
Cuban-American Sugar—
145
116 ¥4
Sep
33¥sJan 22
774 May
377a July
par
preferred——
7%
145
Jun
497a
Jan
13¥4Mar20
10
'
*120
157a
Jan
Jan
20
par
Zelierbach Corp
5%
Jan
No
Cuba RR 6%
830
7'
4¥a
Jan
No
$5 conv preferred
Crucible Steel of Amer
1,100
77
247a
—No
preferred
-
'
*29 ¥2
preferred—-———100
(The)
2
1,200
'
—23
.-.
conv
Oct
"
1 % Jan
183/4 Feb
Cream of Wheat Corp
6,000
.
.
98%
987a
987a
Co
5%
-
500
19%
197a
Crane
11,800
23
*22%
Dec
107
40%
50
3
52 ¥a Apr 28
173 Va Apr 29
5
-1
Corp.;
May 19
287i Mar 13
Mar 20
15% Jan
44 ¥2 Jan
120
Co
Trust
Refining
Preferred——
600
.
107%'-
107
•
,
223/4
47%
16 ¥4
99 ¥4
98 ¥4
98 ¥4
98 ¥4
22%
30¥a
*47
16 ¥2
16 ¥2
106 ¥2
22%
19
30%
47
106 ¥2
*22 ¥4
23
233/a
233/a
.23 ¥4
106 ¥4
22 ¥4
30%
19%
17%
30 ¥2
47
23
223/4
106 ¥4
22¥4
23%
106 ¥2
22%
106%
9
Jan
3
43*
38¥aFeb 29
'
*21%
Feb
,
6% May 11
46
3
'
54 ¥2
54 ¥2
175
Mar 10
13 ¥4 Mar 16
7
5¥a Jan
prior preferred;—No par
Copperweld Steel Co—;
—5
1,600
42 ¥4 Feb
-—5
Del—
of
'
1
$3
4,200
4
49%'
48%
175/8 Feb
4
105 ¥a May
•
i—5
Motors-;
18%'
18%
Fibre
Insurance
1,000
•
.
\
50
*49
48 ¥2
Continental Diamond
Continental
Continental
4,800
117a'
11%
117a
50
•
29
77a Jan 27
20
2,400
V-
143/a^
42
135/a
413/4
700
¥4f-
16 ¥4 Mar 10
Jan
Jan
20
100
Inc.——
13,500
•
'•
26 Va1:
*25%
26 ¥a
13%
41%
II ¥4
32
32
3/a
¥4
13
6-
-
No par
preferred—
Continental Can
9,100
4474'
57a
8%
-
15
'
-
11%(:
•
437a
6
;
41%
UVa'
11
Va'
4478
t
$4.50
-87a
38 ¥4
38%
*11
11%
¥a
'
6
377i
Pow
4
Oct
45
-
50
pfd—No par
Container Corp of America
20
:
'
Consumers
123/4 Jan
—25
preferred
23%'
-
•108 >
110
10474
$2.50
Sep
24 ¥a
3
18¥2 Jan
No par
pfd
100
of Cuba 6%
Consolidation Coal Co
700
47%.
pfd—.:—
conv
Consol RR
l.ono:
157a
-
47 ¥2
$1.25
1,800
•
47%
1574
153/a
*47
1
21
*207a
*15 ¥4 -157a
153/4
47%
21 ¥4
*2074
15 ¥4
153/4
50
*47
.
21 ¥4
July
11 ¥4 Jan
Aircraft—1—1
'
*20%
Sep
227a May 19
3
Jan
Jun
674 Apr
247a July
'
774 Jan
—15
May
109
Dec
23
'
21¥a Feb 23'
par
5
Gas
Sep
Jun
July
1
13
Natural
Mar
Jan
:23/4 Jan
Consolidated
Jun
107¥4
16% Jan
Consolidated Vultee
July
Jan
Jan
j.—1
17,300
41
44
Jan
25 ¥2
$2 partlc preferred
—No par
Consol Laundries Corp———-—5
-;o,./oO-
•
1*"/4K
30%
% Feb
No par
Industries—
Apr 19
417a Mar 18
Jan
104¥a
79
—100
$5 preferred—.
Consol
13,000
30% ¥31%
12%
•'
9,700
,
227a
1078
>• 10
103/a
303/4
127a
.
f
6% %
■
9
44
3
Feb
14¥2 Apr 18
No par
No par
Consol Coppermines Corp
Consol Edison of N Y——No
19% Mar'16
10
—No par
Congoleum-Nalrn Inc—,1
3,000
5
47a
4
Consolidated Cigar——;
10
1043/4
1043/a
22%
10 ¥4
^
V
5%
223/4
5
213/4
Edison Co
90 ¥2 Mar 25
40 ¥a Feb 15
No par
Conde Nast Pub Inc
3,000
11,100
"/
213/a
21%
Commonwealth
9
1067a Jari
& Southern—No par
$6 preferred series
Mar
11
105
No par
No par
600
33/8'
3%
37 ¥2 Jan
..100
800
107 ¥4'
*1063/4
7
1043/4
1047a
5
21%
12 ¥2
*10¥4 ." 10 ¥2
>
:
107 ¥4
10
preferred
Commercial Solvents
1,100
24¥
Credit
conv
Commonwealth
10,000-
-21 Va
21 Va
213/4
4%
29%
¥4
27
21%
21 ¥4
12%
27
Pictures
Comm'l Invest Trust-
2,500
>:
-
Co„
preferred
4 ¥4%
•
3,400
11 ¥4
11
•Vl.23%
*23 7a n24'v„,
107 ¥4
4%
29 ¥4
v
3 ¥2
21 ¥4
12 ¥4
<
21 ¥a
I
3%
21%
200
;
Carbon
Commercial
4,800'
'
83
27 ¥a
.«
397a
110
83
23%
'
10%
$2.75
100
427a
42 ¥4
26 ¥a
107 ¥4
10
5 ¥4
Jan
70
39 ¥4
83
Highest
$ per share
Jan
76
*106 ¥4
82 ¥2
17a
100
40 ¥a
81 ¥2
6
100
108 ¥2
%
5 ¥4 Mar
preferred
39 7e
15
$ per share
Apr 25
preferred series A
*106 ¥4
%
4
5%
40 ¥2
11
$ Per share
6%
106 ¥2
•42
"
par
10
39¥4
i4
*106%
104%
*427/a
433/a
No
shkre
$ per
1,500
106 ¥2
24
¥2
.
Par
■
Columbia Gas & Elec
Year 1943
Lowest
74
39%
%
27%
21 ¥4
*42 ¥2
\
.
Range since January I
Highest
Lowest
•
80
80
*72%
110 ¥2
15
*27 ¥4
3
73
43%
"
-
16,800
39%
10%
*10%
73
18 ¥4
'
•
18
803/4
74
18 ¥4
-
88
80 ¥4
*72
-
4 ¥4
4%
*106 ¥2
26 ¥4
26 ¥4
80-
4 ¥4
39 ¥4
42
81
80
4%
110 ¥2
15 Va
81%
4¥a
Range for Previous
STOCK
EXCHANGE
Shares
$ per share
per share
NEW YORK
for
38%
42
14%
*42%
43%
$
Sales
the Week
May 19
89
*17¥i
18
May 18
*106 ¥2
39
H0¥2
*41 ¥b
¥2
*42 ¥2
43
387/a
*106¥2
-
4
4¥a
4
Friday
Thursday
$ per share
share
4'/a
STOCKS
Wednesday
May 17
Tuesday
Monday, May 22, 1944
2574
Oct
26¥2
Jun
107
Oct
77a May
116
Dec
45¥2
Sep
Dec
9% Apr
147» Nov
2472 Mar
3
96
Feb
11972
Nov
4
157a
Jan
263/4
Jun
D
*19 ¥2
1474
*112
*24¥2
25
*7%
*19 ¥2
■
1474
1123/4
-
*112
25
25
*19¥a
" 11234
24%
15
*112
243/4
*24¥a
A
IV2
*19%
25
1474
;
15
-14%
*7 ¥4
25*7
-
*7¥a X7?/*<'a, tfil 7 ¥2
O'r. *19 ¥2
.25.
11274
15iK
-.14%
147a
11274
>
11274
*11172
25
2474
2474
*24 ¥2
v
;
t»M4%
15
.
112¥t
25
r
x1113/8 Feb
17
Decca Records
20
200
25
4
-8
25
1
100
—1
217a Jan
5
pat
20
367a Apr
32 % Apr
18
413% Mar 22
18
35
17
x20
Davison
2,700
11274
♦247a
674 Jan
Dayton Pow to Lt 4%% pfd
a;* 19¥2 A25
*
1:5
•112
;
Davega Stores Corp
5% preferred-Chemical
—
(The)
Corp
Inc
3874
387a
39
39%
39 ¥2
39
3974
40
40
33%
33%
33%
33¥2
33¥a
3374
3374
34%
34%
*34
35
*18¥4
19 ¥4
*18¥a
19 ¥4
*18¥2
19¥4
*18¥2
19%
*18 ¥2
19%
*1872
1974
26%
267a
26%
27%
2674
27%
2774
287a
8,700
Delaware
& Hudson-.;
77a
7%
77a
*7%
7%
73/4
7%
77/a
774
77/s
77/a
87a
14,100
Delaware
Lack to Western
19%
197a
19%
19%
197a
19%
197a
19%
19%
1974
19%
1974
5,300
57¥t
38%
*55¥4
57
*55¥4
323/4
33
*33
*2972
39
*14%
293/4
293/a
*54
27
27%
28
57
*54
33¥2
33 ¥2
3372
*33¥2
29%
2 9 ¥2
29%
297a
297a
297a
*54
57
34
33 74
3374
293/8
29 7a
1,300
39
3874
39
39
39
39
39
143/4
14%
143/4
143/4
15
15
15
15 7a
14
17
Jan
7% Oct
^19
Mar
15 Va Mar 10
12
Jan
J19
Jan
116
18'
333/a
33%
34
34%
347a
3434
97%
97%
*97
97%
97%
9772
16%
*16
167a
16
16
16
16
*443/4
45%
977a
16%
*44%
*16
34 3/a
-
*9674
44%
44%
45
46
46
363/4
363/4
363/4
36 Va
36 3/a
37
37
37%
22
22%
22
2274
22
227a
22
22
47
4772
473/4
48
48%
483/4 '
483/4
49
48%
*118
120 7a
*11872
1207a
*11872
*108
108 s/a
108 5/a
1083/4
1083/4
313/4
32 7a
3274
32 74
32 74
8%
9%
9%
9 3/a
*9 3/a
*12
123/4
*11%
12%
*12
*45 7a
47
38
3874
1,400
Doehler Die
22%
Va
22%
2,800
4974
49
120
118
118
118%
1193/a
118
1093/4
1093/4
110
10972
1097a
'
*109
327a
32%
9%
9%
93/4
*12
123/4
33
13
13
123/4
123/4
*1183/4
120
118 3/4
120%
*1183/4
120
*11874
120
144 74
143%
144
143%
1443/4
144 74
145
X14372
14474
125%
*1243/4
1257a
*124%
1253/4
*1243/4
1257a
*12474
125¥2
100
*11$% 118%
118%
125%
*118
*11872
1183/4
118%
1183/4
1187a
1183/4
140
*1243/4
*11%
11%
*36%
37%
*7%
7 5/a
163
*181
11%
"37
*774
118%
11%
1174
1174
377a
377a
*774
75/a
7%
16372
*163
164
183
*180%
183
*18072
44
43%
44
43%
164
*1672
17%
*1672
1772
403/4
40%
40%
41%
41
10%
10%
10%
1072
1074
4%
-4%
*4
4
47a
.
1183/4
37
*4374
4
1257a
*1672
474
4 Va
•
'
11%
164
173/a
41
417a
4174
41
41%
10%
10%
107a
10%
107a
47a
47a
4,7a
4
47s
478
47a
*4
474
4
47a
88%
89-
86
84%
405/a
40%
4072
32
*31
317a
31
■
8574
*4074
*
893/4
*8472
40%
*106
106%
*106
11%
11%
11%
96 s/a
9678
99
99
60%
107
*607a
1063/4
183
-
4
4474
44
413/a
4
47a
1,200
8,600
4
4
90
907*
903/4
91 Va
91V4
8672
87
8672
877a
900
41
41%
8672.
41%
87
41
41 ¥4
41%
1,100
31
317a
3172
317a
317a
32
6OV2
607a
61
61
607a
32
607as
*10672
108
*10672
108
10572
11%
11%
12
107
T
'61
923^
107
3,400
900
900
130
preferred
*101 ¥4
10172
*>A
Lead
;
Elec & Mus Ind Am shares
Electric Power to Light
$7 preferred
$6 preferred
Electric Storage Battery
El Paso Natural Gas
—j
Endicott Johnson Corp
4% preferred
No
par
3
^-50
—100
97
97
97
91Va
977a
450
$5 preferred
NO pflr
99%
993/4
997a
997a
890
$57a preferred—-
No par
1017a
101
101%
10172
1017a
410
7a
U
7a
4,100
For footnotes
see
page 2099.
101
7a
Public Service
$6 preferred
tEquitable Office
May 13
57¥» Feb
25
44
Nov
I
.—No par
Bldg
No
par
19
5
12274 NOV
xl06%
16
May
2
Dec
1073/4
Dec
Jan
3572
Jun
574
3472 Mar 13
12% Feb
Sep
7372 May
153
Jan
1072
Dec
13%
Apr
9
Jan
5
115
Jun
12272
Feb
7
14874 Mar 13
134
Jan
159% July
11
12872 Mar 24
124
Dec
130
Aug
1203/4 Jan
20
115 %
Dec
1213/4
Sep
12
Jan
20
113/a
Dec
39
Feb 28
31 ¥4
Jan
44 3/a July
9% Mar 16
1677a Mar 31
3'/a
Jan
8% May
1467a
11
13 74 Mar 17
117
9
Apr 25
6% Jan
3
33
157
175
Feb
Jan
7
24
3
163/4 May 1
3772 Jan
4
41
10
*
NO pat
No par
No par
99%
7a
Dec
25%
10% Feb 28
5
3
(The)
96%
1017a
July
34
Jan
117 ¥2 May
4
99
Va
45
Feb
1572
May 19
1247a Jan
No par
100
9972
7a
Feb
22 3/8
17
11% Feb
i
97
101.
3872
5
25% Jan
11672 Mar 28
5
99
1017a
47
137
10
;
Oct
Dec
1674 July
41% Apr
8 ¥> Apr
100
Co
35%
100
5
May 17
1st pfd
Jan
4
33 ¥4 Jan
110
97
.
Jan
7
97
*10174
Jan
10
21
99
%
8372
Nov
May
May 12
433/4 Jan
2
Engineers
213/a
25
24
28¥4 Jan
99
12,700
9
Jan
16% Feb
100
1063/4 Jan
96'/a
127a
8%
Jan
113/4
11%
17
6
131
117a
f
42%
Feb
1143/4 Apr 26
117a
11%
Jan
Jan
14
Electric Auto-Lite
Electric Boat
>
37
29
Edison Bros Stores Inc_—
5,800
8
95
Apr
15¥4 Jan
& Co
20
No par
6% cum preferred
Eaton Manufacturing Co
2,900
103/4
3372 Mar
x273/4 Feb
100
(E I)
Apr
35% July
Jan
par
1
48%
Jan
26
par
par
Mar
173/4
31
41
3
40
3
367a Mar 23
No par
Rolling Mills
Eastman Kodak Co
—
56¥4 Mar
Dec
323/i Jan
15% Apr
36 % May
Eastern Airlines Inc
1,400
10%
5
11
No par
Nemours
Eagle-Picher
30
-
3
No par
series A
Duquesne Light 5%
1,200
'
417a
"
52
13¥4 Jan
Eastern
4474
Feb
2974 Jan
x29¥a May 12
par
20
38¥4 Mar 31
International
P de
$4.50
1,100
1772
*17
103/4 May
223/a July
No par
Du
3,7000
164
*180
*17
90
607a
*163
183
IIV2
1772"
12
<164
433/4
Jan
No par
Co
Duplan Corp
8% preferred—
7¥2
164
*1672
•
300
-
377a
*774
*180
4372
8574
6072
16472
182
11%
*365/8
7%
437a
40
6072
11%
37
*7%
164»/a
43%
*88%
*31
11%
36%
7%
181
183
*84%
887a
1172
31V*
*772
16%
47
*
377a
•
•
Mar 23
21 ¥2
$4 preferred
4,300
"
12
No par
No par
Dunhlll
14474
123/4
187a Jan
100
Dresser Mfg Co
*118%
120
17%
Jan
No
1,500
144
2072 May
Jan
374
No
Casting Co__;
2,400
120
Jan
83/4
2
A
9%
143 3/a
12
9% Mar 22
25
Co
33 74
*118%
Mar 10
July
31% Mar 27
Dow Chemical
1,100
36% July
3
Douglas Aircraft—
2,300
1,000
110
9%
9%
49%
1183/4
33
33
*9%
Class
43
Jan
,
3
Par
Dome Mines Ltd
90
Sep
Jan
29
..
57/a Jan
preferred
Cup
Jun
13
Jan
No
400
5%
26
Jun
-
24%
177a Jan
.—No
Corp-Seagr's Ltd
200
16
'
33
Distil
97%
Dixie
Jan
17¥2 Jan
preferred
partlc
10
50
Diamond T Motor Car Co
47
38
213/4
5,400
6%
108%
12
26% Mar 13
—20
16
*9674
46
36 3/a
1,000
113% Apr
10
Raynpjds A
Match—
Diamond
2,000
35
343/8
35
97%
21%
3974
15
15
Devoe &
Jan
100
—
Detroit Hillsdale & S W RR Co__100
57
*383/4
No
Co
Edison
Detroit
210
29%
*54
&
Preferred
Delsel-Wemmer-GUbert
x34
*383/4
33 7a
700
34
15
*9674
Deere
7,600
57
'
33
28
39
*16
407/a
40 3/a
¥2-
Jan
20
13 ¥2 Apr
'
*33
33/4
7% Mar 20
19 ¥2 Mar 17
Jan
Apr
18
Apr
9% Nov
Jan
170
7
X173
Sep
184
44% Mar 17
35
Jan
45 3/a
18% Mar 16
11%
Feb
19
413/4 Mar
3078 Jan
8% Nov
183
Jan
11 Va Jan
8
22
3174
Jan
92
Nov
Jan
887a
Nov
Jan
42%
Sep
333/4
2374
Jan
637a Mar 13
Apr 17
497a
Jan
6
3
Mar 3
Feb 28
Mar 18
May 5
Jan 12
Mar
53/8 May
6 3/4 May
28%
13%
983/4
993/4
1023/8
%
14
Jan
94% Mar 4
437a Feb 28
32
May 19
Jan
3
Jan
3
Jan
3
Jan 10
Apr 25
Sep
397a July
Jan
18
Apr 24
3974 Apr 28
273/4 Feb
7
8%
81
89
92 %
%
Jun
July
l3/4
53/0 Mar
99 V4 Mar
4% Mar 15
107
May
174
3% Jan
4
4
Apr 18
817a Apr 25
577a Jan 25
10174 Jan 19
Oct
x32
Sep
587a July
1017a
Dec
1037a
2 3/4
Jan
9%
54
Jan
573/4; Jan
62%' Jan
<S1L
-%/jan
fI
•■
■■
j
Dec
Sep
92
Sep
927a
Sep
96
Dec
174 Mar
Volume
Number 4283
159
THE COMMERCIAL & FINANCIAL CHRONICLE
LOW
Monday
Saturday
May 13
...
$ per
$ per
share
*11
10%
HIGH
$
'V
11%
per share
.11%
11%
11
11%
10%
11
56%
56%
57
*55%
57:.'"
85%
*80%
85%
*80%
85%
*6%
7%
*6%
*10%
10%
*10'%
30%
3%.
*38%
21%
11
*15%
100 %
!
.21
*17%
18%
6%
.
•"
6%
r
•
25
■
,,48%
*6%
44%
*;
■
'
*105
/
-38
38
.
*38%
*12
22
22%
12%
12";,: 12%-,
38%
■•V
48
20%
37%
/
?
'
v
45
'
-
56
55
*20%
20 %
■v';
963/4
;
38%
38%
2.1
22%
*21%
22%
22
108%
*36 %
■
:'r, *14%
31%
31%
%:
.
14%
*
*86
91
*31
313/4
*107
,
37%.
108
.
33%
*108 ft
108 35
106
*36%
*3%
*3%
.
'•
3%
3 %
28%
17%
*53
28
17%
*17
5
5%
5
5
15%
54
*53
.11%
*11%
107
15%
/
42
7%;
*147
42
;
8
423/4
.
42%
<
7%
.
1493/4
8%
8
83/4
43/4
123/4
90%
.
4%
263/4
13
90%
90
.
*26
;
148ft-
35%
17%
17%
17%
541/2
54%
54%
11%
11%
11%
113/4
9
53%
11%
11%
,/
8
V,
4%
35%
*26
35%
No
par
34% Jan
83/4
43%
24% Jan
7%
10
9%
4%
4ya
13%
13%
90 %
90%
•90%
353/4
263/4
/ 148
35%
;
; 26%
35%
—No
cl A
41
4
__Ao
36
35%
35%
—
:
78%
Jan
98%
—
Jan
Jan
25%
Jan
31%
Jan
19%
preferred.——
43
39%
Jun
109
July
38% Mar 17
253/4
Jan
36
Jun
"3
29% Mar
1
19%
Jan
8% Mar
8
3%
Jan
58% Mar
7
30%
Jan
93/4
Jan
13% July
39%
Feb
54
14% Mar 28
>•
.5
60
Mar 13
22%
Jun
28
'
Jun
9% July
•
53
Dec
Dec
Jan
18
233/a Mar 24
10%
Jan
19% May
Jan
•4
23
12
163/4
Jan
21
13
15% Mar
7
5%
Jan
15%
50
Feb
75
293/4
Dec
38% July
Mar 20
17
•
Jan
31%
96%
Jan
Jan
Apr
,15
95
1
33% Jan
3
Mar 10
15
23
110
Jan
Apr
18
107
May
Dec
Sep
May 19
2 3/4 Jan
3
2"% Jan
4
12% Jan
5
25% Feb
4
3
13% Feb
51
5
.
Jan
4
Feb
2
,
19 %
Jan
30% July
3
4
19
140
>Feb
35
Feb
Jun
4ft May
Oct
63/a
Jun
Apr
Jan
143/4
Jun
63/a
",53%
Jan
11%
Apr
Dec
14
102
Jan
107
Aug
37
Jan
51
Jun
53%
11
10% Mar
134
Jan
4%
Mar 17
23/8
Jan
7%
Jan
713/4
Jan
973/4 Mar
28%. Feb
24
'150
8
18
373/4 Jan
30%
-
„
Jun
8%
May
18% May
98% May
20 % „Jan
130% Jan
5
Aug
9%
,
32 %
y
Mar 23
Jun
151
Jan
6
,
9 ft-
Mar
2
153/4 Mar 16
16
—No par
93%
vt
1493/4 May 19
4
>,'■ 25% Apr
100
4%
Jan
51
Mar 22*
8% Jan
-
3
813/4 Jan
,
14%
473/4 Mar 13
8
43/8 Jan
par
Jan
Mar 17
107% Jan
3
113/8 Jan
par
100
Jan
18 ft May 17
63/4 Jan
No par
Jan
1%
54% May 19
413/4 Apr 28
73/4 Jan 24
143
par
-5
2%
3
13
Aug
9%
5% Mar 13
11,
110
7
30% May
18
Jun
22
Mar
1
Jan
10% Feb
106
20
4% Mar 11
7
4% Jan
•
15% Jan
10
16% Mar
-5
No
July
Jan
Feb
No par
...
Jun
! 50% Jun
Jan
103
—50
—_
Nov
15%
107
No par,
...No
preferred
12%
42f
Mar 11
36
5
;
Apr
25% July
1
.-4
1
..No
General Electric Co
19,000
6%
Jan
729% Jan
par
—
cum
1%
Jan
13
30% Jan
...No par
preferred—
7%'
Feb
3 3/,
July
105% July
293/4 Apr
18% Dec
97%
1
General Cigar Inc.——
300
r
Dec
May 13
20
;
Co..
Class A
148
19%
Jan
13
23% Mar 10
109
May 18
70
par
(Robert).
General Cable Corp
410
26%
*145
Jan
18%
15
1ftn
General Bronze Corp
2,000
91
26%
148
.35%
(The)
1,200
5
13%
91
~r
26%,
♦145
■
*4%
> 13%
.
■
May
11% Nov
1
100
,
Amer
$8
6%
86
Mar
28
?
16
,...1 "■>
-
1,800
■
42
Nov
Nov
13% Jan
10
Transportation.
General Baking
30
•
>
Nov
33/4 July
20
pfd—100
Wood Industries Inc..
Gen
3,000
149%
9%
4%
*26
:,, 1,100
Jan
8%
Nov
29% Mar
'
"
.25
.
Gen Ainer Investors
2,800
8
149 3/4
12%
*145
4
-5% May 16
•
*. 46
—No por
$6 preferred——.
9%
90%
:
10
100
Gaylord Container Corp
5%% conv preferred.—
80
-
43%:;
1493/4
9
12%
26%
35%
8
*148%
*4%
148%
-
-
:
30%
May
"
No par
preferred
Gardner-Denver
107
*105%
43%
7%
■
1493/4
8%
9oi4
*145
35%
13
18% May
'
107
431/4
/
8
*148%
,
13
90 %
,
*105%
43 ,</■■/
7%
4%
*12%.
148%
c
■
107
43
8%
26%
*145
,
104% Jan
conv preferred
Gar
Jun
l&3/4 May
Nov
21
20% May 19
49% Apr 24
46% May 19
107% Mar 13
25
par
preferred..—
Gamewell Co (The)—
'
42%
1493/4
,
ft
*105%
,
;■«
1033/4 Apr
35% Jan
par
Co.
Trailer
Inc
14%
3
Apr.
98 % Feb
.
3
par
Co..
Co
Jun
Jan
%
12
7% Apr
27
No
6%
f
203% Jan
J 8
...No
Co
4%%
9%
20
3
lift May "1
-
120
,
Jan
Jan
—No
Fruehauf
13,200
*53%
53%
83/4
43/4
,
*12%
/
90%
*26
173/8
:
*148%
,
-.100
——
Stores.—
(The)—.
Freeport Sulphur
3,000
18%
""
*145
51/4
17
45
38% Feb
>
53 V2 Jan
6
17%
■
/■
■
? *148%
*4%
5%
163/4
107
42%
;
8
83/4
12%
*17
51/4
;
11%
*105%
■:
.
*
,
*28%
17%
5
.,
Jan
24
25
'
Corp..—
preferred
L;
Gabriel Co
29
Jan
78
53/4
21% Mar 17
24
10 1
Galr
5
173/4 Feb
101% Feb
-
4
93
,
Jan
17
22% Jan v-3
__l
Francisco Sugar Co
300
*17
)■
$2.50
Steel
1,300
•
*28%
5
Jan
5
par
,100
Corp
Stove
2,700
3%
14%
173/8
53%
53%
107
1493/4
83/i
4
3%
*14
29
28%
-.
17%
;;... *11%
11%
*105%
'
;
4
3%
14%
*17
28
4
3%
143/4
17%
v
3%
3%
14%
28 %
*15
55
11%
3%
3%
*13%
••
15% .,15%"/
*105%
334
3% ;/
*17
5
No
52 3/4
33/4
May 18
24% Mar 21
26
No par
.
Machinery Corp.
Corp
% prior preferred—
7
*27%
:
5
__5
16 % May
Jan
68%
40
21
Jan
5
143% Jan
18
Jan
19 % Apr
17
Apr
.1
600
3%
14% Jan
1J0
„
.
preferred..
conv
3
18
9% Jan, 3.
No pat
_2 ;■
Foster-Wheeler
5,300
14%
33% Jan
Jan
8
3
May
4% Feb
21 % Apr
.
8%
7
31
*
20
Food
700
700
14 %
25-
13 ft Mar
3
Food Fair Stores Inc——
30
3%
143/i
5
;5%
2,100
3%
3%
*17.
Co
Follansbee
5,900
1053/4
*13%
2% Jan
No par
F'k'n Simon & Co Inc 7%
3%
9% Apr
213/a Jan
18
__3
Florsheim Shoe class A.
1,300
14 %
143/4
*27%
$4.50
*108%
,
9% May 18
133/4 Mar 22
$ per share
'
National
Florehce
33%
,
10855
106
106
33/4
3%
-
19
& Co.
4%%'preferred
r
37%
31%
33%
-..:*io8ft
106
*14
,
33%
6% Apr
preferred-...—
conv
Enamel
First
290
V.
v
'
33%
5
Dept Stores.
Flintkote
32,600
*86
,
15
Fidel Phen Fire Ins N Y.
900
,
*21%
14%
91
78% Feb
Firestone Tire & Rubber.—
1,100
.;
38%
21%
Ferro
2,300
2,200
106
105%
.Xi 4% %
/ 5,800
46%
108%
37%
l;
48% >.48%
45%
105%:
'
20%
20
,.V.„
Federated
900
920
:
,
*86
15
'
'
'*'14%
78% Feb
2.50
Federal Motor Truck
-1,700
,
X
20%
-*21%
50
—
Federal-Mogul Corp
700
■*54%
39%
_5
Corp
300
,,
.25
*95.%;
45%
i
12%
.20%
11
$6 preferred—.
Mln & Smelt Co
20
20%
•
,
59% Apr
Federal
12%^
t
13% Mar 22
3
Cleaner
500
7
.
25:,;
20%
21%
109
*36%
-■-I
..
/;;
r
20
193/4
...
18%
96%/
,.48% .749
,
.
•
105% •%: 105%
38%
38%
*108
,
.
96 3/4
jfi
*18
150
•
,
5%,
*54%
.
*12
\
3
Co
Fairbanks Morse
1,100
;
102
*463/4
12%
156
4
93ft Jan
46% Jan
Fajardq Sug Co of Pr Rico
*273/4
5%
-
9% Jan
100
.
Highest
$ per share
par
Farnsworth Televis'n & Rad Corp_l
Federal Light & Traction
15
19,000
21
-
6%
243/4. -.25 v.,,.
193/4
49
18 %
1,400
,
$ per share
par
Exchange Buffet Corp
16%
!
Ex-Cell-O
2,500
*20%
.
Vacuum
3,600
$ per share
Lowest
No
int
Products
Evans
■
,
22
*101
20%
3%
Eureka
1,800
12%
16%
101
."-63/4
25 ■'
96%
45%
38%
20%
*36%.
19%
1053/4
109
benef
Year 1943
Highest
No
5% pref series A
21,200
39%
22
18%
6%
n
44%
38%
19%
common
Erie & Pitts RR Co
30%
.,,
*39%
20%
48%
:
106
108%
28
5% :
V
,
.
106
%
*6%
,96
19%
49
18% //
25
v
443/8
44%
RR
Ctfs of
1,700
11%
/v.. 12%.
16%
100%
21
*173/4
63/4
.48%
16%
100%
*20%
96%
*19%
/
100%
25
:
16
•", 15%
-
18%
7
96
37%
*46%
153/4
6%
*24
A
38%
*36%
6%f
40
22
•*1734
106 'ft
!■:' •; *27%
28
39%
21%
11%
15%
-20
47%
■
39%
ll3/4
100% 100%
21.,
*20%
110
*27%
'
39%
21%
6%
19%
*:
39%
11%
24%
*108,,
*46%
\
;
59%;
..
Erie
18,500
.
9
11%
21%
18
20
37%
8%
11%
*3%
109
,*36%
9'%.
11%
30%
19%
,
7%
11
3%.
108%
1
<
11
30%
•
106%
106%
7%
7
10%
30%
'
Range since January 1
Lowest
,
Par
85%
*3%
.
Range for Previous
STOCK
'
3%
96%
*96%
*19
19%,
48%
44% .44%
:i3
56%
*80%
YORK
EXCHANGE
2,200
12
56%
85%
30%
.
48%
44%
»
:
'24%
^
^
11%
56%
*80%
*3%
21'A
.
;i8
:
25
v,^6%. a, 96%
.'19
,19
11%
56%
85%
,30%
100%
?20%
...
11%
56 %
3%.
.16
*100
>
11%
55%
11%
NEW
Shares
12%
30%
11%
*15%
•
100%
11%
*3%
.22
11%
16
11%
30%
39%
.
:.'i. *21%
'
', 21
*38%
■V.
11%
$ per share
3%
■J *3%
,38%
21%
11
$ per share
11%
Sales lor
the Week
May 15)
*80%
7
10%
Friday
May 18
30%
30
30%
*3%-,
,
11%
6%
7
10%
STOCKS
Thursday
$ per share
*80%
'
PRICES
Wednesday
May 17
*56
,
j
SALE
v
May 16
share
*11
11%
10%
AND
Tuesday
j
May 15
2093
May
148
Jan
Nov
39% July
'
"41%
41%
*113
;
125
108%
*107%
58%
125
129%
585/«
127%
^
42%
125
42%
114
2%
:f
*122
2
125
127
127
*43
7%
,
109%
*108
110
*108
110
129 3%
*128%
129% :
*1283/4
1293/4
58%
59%
59
>
■i 7%
■
85/s
20 ft
*19%
7%
-7%
*107
1%
■
*115
1%
1%
*76%
78%
76%
ft.
*16
16%
.
77%
•
20%
21
101
10%
92%
13%
93%.
5
19%
*107%
*1%
20%
*20%
*115
1%
78
7%.
20%.:
*77%
*20%
20 ft
20%
16%
16%
17,
78%
77%
78
21%
101
24%
23%
*112%
.
21%
99%
99%
21%
10%
10%
10%
10%
79%
793/4
14%
14%
93%
93%
93%
95
19%
20
*46%
48
93%
93%
19%
,
20
46%
,•
•>. 19%
'■
*46%
:
1%
*1%
i
./
3%
*96
46%
46%
103%
r
44
,.44%
•c
109%
■f
109%
12
•(
:
12
.4
*107%
1%
103%
44
12%
12%
109%
1%
4%
*11%.
113/4
333/4
33%
25 1
*24%
14%
4
•
10%
80%
14%
;
10%
1,100
14 ft
14,300
'f-
*46
1
?:
34%
25
243/4
1434
24%
*152
33%
203/s
11
111/8
11%
3%
3%
142
11%
3 3/4
142
-
32%
*24%
15
*14%
33%
34%
25%
25%
20%
11%
,
*15%
11%
3%
143'
60
46 %
46%
20 %
20%
♦11
11 %
11%
33/4
143
11%
33/4
.143
11,700
400
.
"7
,/ ;V.
2,200
——————-No
Goodyear Tire & Rubb—i—No
$5 convertible preferred—_No
/ Gotham Hosiery
—No
$5 preferred
;
—
600
,12%
Grand Union Co—
*34%
35%
25
*24%
14%
*
100
/
1,500
34%
x33%
33%
9,100
25%
25%
25%
3,100
60
151
*55
60
*47
,
151
48
46%
47%
203/8
■20%
20%
11%
*11-
*11
11%
3 3/4
142%
11%
*11%
3%
;
143
3%
143
Jan
112
•.,'33
Jan
!J
3
12
83.
25
May 19
2% Mar 21
Apr
8
Feb
17
103
3
11% Mar 22
Jan
6
83
19
Jan
X83
18% Jan
•
45
Apr
Jan
1
95
f
26
Green Bay
1,100
*6,800
11V4
400
113/4
600
3%
1,200
70
Green
*
(H
4
'3
16%
143%
16%
15%
16%
15%
15%
37,400
55
55
55
55%
55%
57
56%
58
57%
58%
58%
5 8 3/4
•8,200
*5
46%
46%
47%
48 %
47%
48%
48%
49%
49
49%
49%
49%
32,800
Gulf
*283i
29%
*28%
29%
29%
29
29
*28
29%
100
37%
37%
37%,
37%
37
37
37
*36
37
140
16
11%
16
16
16
16
16
16
16
900
Hall
Hamilton Watch Co..
I Gulf Mobile & Ohio RR_
nrpferred
Oil
Apr
Jan
v
:
17
5
59
May 17
Jan
_9ft
May
74
May
14%: Sep
Jan
~
85%
Oct
143/4
Jan
223/8 July
48% Mar 28
41
Jan
48
4%. May
Jan
;
1% May
13/4- Jan
4
18
73%
48% Mar 22
24%
Jan
Feb
33/8 May
•
Sep
100
Jun
97% Aug
Jan
102
par
Jan
par
104% Jan
3
110% May 11
90%
Jan
41% July
108% July
4%
Jan
par
8% Jan
3
100% Jan
25
104
Feb
17
13% Mar 18
108% Apr
8Q
10
,
3
20
4% Jan
Jan
5
17.% Jan
19
8
12% Apr
,
3
9% Feb
32% Jan
Jan
13
14% Jan
3
24
25% Jan
"3
JVo par
c'
25
Jan
1% Mar 15
1% Jan
3% Jan
15% Feb 28
—1
5
1
Corp
Jan
Jun
25l/8
100
No
43/4
Dec
25 3/a
83
—10
Grumman Aircraft Corp
1
Guantanamo Sugar
.No par
8% preferred—
——-100
15%
Jan
603/4
Jun
23% May
113
45% May 17
preferred...—
15%
24%
Jan
8
3
143/4
Jan
3
15
14% ; 14%
Jan
15%
108
Dec
July
7
'24 3/a Jan
145/s
91
Jan
Greyhound .Corp (The)—.—No par
5%.%
15%
Jan
Feb
I433/4 Feb
Co Inc
Jan
Jun
>
36 3/8 Feb
100
& West RR
L)
Sep
23% Mar
2% Mar 27
3
2% Jan
Jan
1%
59
20 3/4 Mar 16
4'
85% Jan
Aug
Jan
60
14% May 17
7
25% May
115
Mar 31
11% Jan
7% Jan
'
Jan
Mar
15%
,
25% Mar 16
14
Jun
Nov
9"%
:
253/4 May 19
113% Apr 22
23% Mar 16
Jan
f
31%
22
Jan't 6
,
8%
2% May
Jan
8
88% Jan
Jan
%
12
17% Mar
4
May 15
123/e
X104
23% Mar 20
69
..
'
116
11
6% pfd__No par
Sugar..——No par
14%
'
4%
<103%
5
23% Mar 13
10
193/4 Feb
—No par
Preferred __i_
>
143
Western
Great
120
20%
:
5
Mar 16
1% Jan
Nov
6% July
98
Great Northern Ry
'
153%
Feb
39
24 % May
*
40
Steel—.—.—No par
Grant (W T) Co—
—10
5% preferred
—...
20
Great Nor Iron Ore Prop—No par
900
-
25%
'
.
July
131% May
par
Granite City
4,400
34
*55
,8.
109"
45%
-
.
Jan
5
7 3/a
Jan
36% Apr - 5
25% Mar 15
29%
Feb
37
24
Dec
26/
15% Jan
13%
Dec
18
21%
Jan
34%. May
29
Mar
153
Apr
9
23% Nov
8
138
14
-
Oct
2% May
Dec
8
31
Sep
9% Apr
1013/4 pec
3-/4
'
243/4
14%
Jan
Feb
46% Mar
Apr
100
——
Granby Consol M S & P——
200
12%
35
*151
Preferred
Graham-Paige Motors...
10,800
15%
<
Jan
13%
213/8 Mar 16
'99
No par
(The)
conv preferred..,
Jan
2%
26
19
No par
Glldden Co
Nov
17%
130
22% Jan 20
'
15
153%
800
v
-
.
30
7,100
4
12%
35
'
-
1%
25
25%
109%
4
34%
20%
*3%
12
:i
800
,
I
12%
O OO
1%-
14%
46%
II34
'#
i%15%
34 Vb
34
*11
,
4
4
xl5%
*24%
46%
143
4
/
'
:
■
/■■/■
110%
12%
.
109%:
?"
1%
15%
12%
,
14%
*55
20%
12%
*108%
24%
60
11%
...
,
34%
*55
20%
12%
109%,
,
45 3/a
*110
•r
:
,
103
45%
700
-
:
48%
102 3/4
109%;.",
11%
*151
60
109%
111
3%
98%/
48
,
45%
11%
12
152
46%
IP/4
1 %
153/4
25
*55
142
0"
*3%
>
152
*46%
*3%-
12%
'# t—* O 00
25
46%.
11%
:
%*•
154
60
*140
1%
4
16
*11%:
*46%
20%
•1%
341/4
*108%
:
103
443/4
••
preferred
conv
Gimbel Brothers—a.—
125%
8
3
110
,
—5
Rubber Co
&
11
8% May 12
3
77
—100
No par
No par
4% %
50
Gobel
(Adolf)—.—.——
1
tGoebel Brewing Co__j..^-1
Gold & Stock Telegraph Co——100
"Goodrich Co (B F)——-—-No par
/
300
1%
V*3%*96
48%
103
45%
•••
.
Sep
56
19% Apr
14% Jan
$6 preferred——
2,700
48
;
$5
,
1,800
:
20%
1%
3%1
98 ft
48
48
103%
44%
Tire
107%
137
Jan
51% Jan
20
No par
Corp
Jan
Nov
44%
1% Jan
1
Corp..
83%
128%
28
20% Jan
preferred—No par
Telephone
21
Jan
4% Jan
112
preferred
;——
-100
Gillette Safety Razor.——No par
4,400
:•
95
94%
> -19%
■
93
119%
131% Apr 11
593/4 Mar 13
r*% Apr 25-:
—No par
preferred
110
p 6% Jan. , 3
107
Jan 12
10c
4%%
10
80%
1%
x3%
6%
General
2,200
101
14
48
*96
^-1
Refractories.——No par
'ViGen Time Instru
2,400
10%
20V'a
1%
13/4
3%
Sep
July
4
18 % Apr
par.
Railway Signal
General
100
.
,
80%
:
.,
94%
20
98
47
12%
*3%
3%
103%
•
109%
*15%
*55
*11
*12%
11%
32%
25
46%
110%
*108
/
14% >14%
153%
1%
*96
44%
109%
*33%
32%
32%
.
■
104
44
*24%
15
,24%
*151
11%
v
16
*15%
■
104
,
1%
4
16%
46%
>,
33/4,
97
'
Dec
"
94%
'
110% ,:.
*107%
1%-
*4
■
'44% ;
1%:
33/4
96
•
103%
.
*109%
V
t
*1%
3%
46%- 47
•
109%
*15%
1%
.
.97% ' 97%
,
*103%
.
1%
3%
98
120%
363/4 Jan
v
par
Lhi
General Shoe Corp....—
'
■—3%:
July
1253/4 Jan
par
,£^._No
Gen Steel Cast $6
960
/
21%
*99
14
v
preferred
General
114
213/4
Dec
5
11
4
par
—No par
preferred
100
Realty & Utilities
1
$6 pref opt dlv series——No par
1,000
#
;
25%
—No
A.
"
21%
*46%
48
24
:
24%
*112%
101
10%
20%
773/4
24
•
80%
/:
.,,:■
3
120% Jan
Mar 18
'
17%
77
<
AUg
Jan
6%
1,100
17. ■
24
Jan
l3/8
513/4 Feb
Gen
200
21
$6
Gen
<
3,000
79
r
113%
3
128
preferred—^—._—No
Outdoor Adv
Gen Public Service.
10
1%
77 %
.
24%
114
21%
14%
46 3/4
;
17
*99
80%
13%
116
*20%
r....
t
77%
23%
10%
*79%
r
*
:
700
21%
•
3
Jan
102
General Printing Ink—.
•
20
400
"
17
*24
213/4
7934
:•/ ;
■
20%
*112%
233/4
114
101
*99
79
77%
24%
23%
114:
21%
"
*24
23%
*112'%
,
•
•
*24
/
•
.
:
1'
44% July
Jan
3
—..100
10
Gen Precision Equip. Corp ...No
2,200
1%
1%
Jan
117
—No par
/ Common
;
500
73/4
116
w
1%
34
6
17
10
Jan
preferred.
$5
.
Gen
108
;'?*1%
V- -
116
1%
77%
16%
7/:
20%
*115
77%
•
13% <13%
47%
20%
.V-
1% :/■'
v-
5%
,
2,900
20
roi -108
13-8,';;
43% Jan
27
Apr
2% Feb
115,
/General Motors Corp.
500
8%
*19%
108
1%
20
46%
8%
112
No par
General Mills
400
27,900;
127
*44
.•/:
7%
*107%
13/a
116
1%
46%
7%
.
108
10%
-
19%
*46%
7%
.
.
79%
10%
80%
13%
7%
78
114
*99%
*79
19%
20%
23 J/2
•
*20%
*99%
19%
20%
24%:
23%
*112%
v
19%
16
*24
23%
114
19%
77%
77
24%
23%
*112%
8%
*44
x40% Apr
No par
*
59 V4
127
,
8%
115%
*76%
20%
' ;16r
.
78
*24
,
*20
20%
127
85/a
l3/8
*1%
.■
127
,
46%
8 5/8
108
•20%
76'%
20
7%
*115
1%
127%,
*43%
8%
20%
•
*1%
115%
*1%
*126%
46%
,
.108
1%.
20%
*20%
115
-T
108
v
1% ;;
20%":
20%
*114%
*43%
8%
/
108
138
127
46%
No par /
Corp
$6 conv preferred series A-No par
108%
58%
Foods
preferred
Gen Gas & Electric A
11,200
125
*1283/4
59
$4.50
90
23/4
58%
*126
Va
8%
.
20
*107
43
*19%
8%
*19%
•
*
453/a
8%
>
General
2,800
114
3/4"
*122
'
/
42%
114
.
2%
129%
58 3/8
127%
*122
■42%
*113
2% //
109%
*128%
58%
23/4
125
%
129%
42
114
2%.
♦121%
109
41%
.113%
113
2%
10.9
128%
583/8
41%
113
2%
*121%
.
108%
128%
2%
.
41%
114
*113-
2%
*121
41%
41%
114
2%
63/4
Apr
17
July
13% May
Sep
July
Apr
32% May
27 3/a Jan
Jan
154
Dec
Jan
3
57%
Sep
65
43% Feb
17
50% J an
5
31%
Jan
50
Sep
19% Apr
19
22% Jan
24
14%
Jan
21%
Dec
29
Apr 18
12% Jan
24
11
Jan
13% July
10%
Nov
Mar
60
.11
4
Apr
11
67
13
Feb
Mar 13
4% Mar 10
3% Apr
3
Jan
26
6% Jan
3
Jan
3
433/4 Apr
25
49% May 19
150
Mar 14
17% May
i
5
Jun
1603/4
Jun
3%
Jan
10% May
Jan
41 ft May
Dec
50% July
223A
,
Jan
44%
,
Jan
25%
58% May 19
33
;
2%
81%
■j
16% May 17
123
Feb
H
*37%
373/4
*16
16%
lift.
*107%
11%
109
For
,
-
t^luVc-j'
./,T,11%-
.•iio.7%:LQ9,
footnotev^ee^pflge 2099.
*28%8—29-%-
*11%
*108
f6
12
12
109
*108
.
,
12
-
12%
12%
12
12
800
109
xl06%
106%
"106
107
10
Hackensack
7%
6 %
,.28
preferred—
Apr
4
35;
Jan
20
.10
No
27:
,.25
Water
preferred elass A.
Printing Co
15% Mar 13
par
100
111/4 Apr
106
26
Apr '11
29 %
May 12
38
May
5
16% Mar
8
14
Jan
108% May
17
4
28%
Sep
Jun
38
Apr
12%
Jan
18% July
9%
Jan
15%
Jun
104 ft Mar
110 Va
July
,35
,
2094
LOW
Saturday
May 13
AND HIGH
per
*104%
*6%
*106
*6%
2%
23/4
23/4
*2 %
*106%
1063/4
106%
23/4
107
107
*68%
70%
*162%
*213A
*162%
163
64%
•
21%
22%
213/4
21%
39
39
116
41
114%
*42
14%
*14%
213/4
21%
*21%
21%
*213/4
22 %
22%
22%
22%
22%
39
39%
39
39
39
39
*14%
15%
*14%
14 %
14%
14%
41%
403/4
41
42%
42%
14%
14%
14%
15
*14%
'
57
57
109
109%
*31%
109%
109%
11
64%
65%
x64%
65%
65%
11
11%
11%
11%
11
32
1%
1%
7%
*1%
1%
H%
7%
*7%
7%
*31%
31%
31%
31%
1%
1%
1%
1%
*1%
*7%
73/4
7%
*24%
25
25
10%
10%
10%
10%
Xl0%
1%
1%
1%
1%
1%
26
26%
26%
13%
i-'-"
13%
33%
*33
59%
59'%
12
■
10% :
8
25
25%
2,100
10
103/a
10%
10%
10%
10%
17,300
1%
1%
1%
1%
1%
26%
26%
26%
263/4
26%
26%
123/4
16
16
37%
38%
96%
*31%
'
32%
111
*111
*6 3/4
7
*6
*170%
172%
72
8
7%
7%
*7%
7%
1,600
Intercont'l
7%
7%
7%
7%
3,000
Interlake
713/4
172
171
171
170%
170%
169%
169 %
72
72
72
72 %
72 3/4
723/4
73%
4,900
172%
2%
2%
16%
16%
16%
16%
69%
4%
43/4
4%
4%
*69%
69%
,
173
172%
173%
2%
.
16%
16%
70
2
16%
70
*69
70
*4%
43/4
*4%
26%
25%
26%
26%
26%
26
26 3/8
26
131 %
131 %
131%
131 %
131
131V4
132
81
80%
15%
16
75%
75%
75 %
75%
76%
77
.77%
77%
9 3/4
9%
93/4
9%
10%
10
75%
*43%
37%
*62%
65%
*63%
127
*117
76%
76
753/4
43%
37%
75%
373/4
66
x64
64
127
*117
46
37%
*117
127
37%
66
65%
*117
127
373/4
373/4
64
*117
*43%
45
*43%
45
*43%
*43 %
*37%
81
793/4
773/4
763/4
46
37%
37%
*64%
65 %
•t
26,000
'
6,400
;
45
-
13%
13%
13%
13%
14
14%
13%
400
14%
13%
*13%
13 %
13%
13%
13%
14%
14
143/8
14
14%
16%
*16%
16%
16
16
16%
16%
16%
16%
16%
16%
16%
*153/4
163/8
16%
16%
16 3/4
16%
16%
17
17
17
*30%
32
*30%
*137%
140
*139
*153/4-
-
•
*31
140
14%
30%
30%
*109%
112%
*109%
112%
91%
91%
91%
91%
20%
20%
20%
31
31
*109%
91
*90
100
*90
100
*90
139
20%
20'%
33%
*31%
140
*14
14%
*14
3.4%
30%
■
33
*139
32%
:
14%
13%
•
14%
14%
31
■
■
31%
*109%
112%
90%
91%
90 3/i
100
*90
100
700
200
50
14%
*109%
1123/a
91%
913/4
*90
100
21%
65
65
.
64%
65%
64 %
73%
*64
64%
74%
74
74%
*64
65
74%
*11%
11%
11%
11%
*11%
17%
*17%
17%
*17%
74%
18
*74
65
74%
74%
17%
11%
*11%
11%
300
Joy
18%
900
Kalamazoo
10%
10%
10,300
*34%
11%
17%
36%
1,000
.
5%
5%
Min
Jan
2%
Jun
Jun
4%
Jan
10%
Jan
293/8 Mar
4%
Jan
11% July
Jan
23/4 May
Feb 25
-
Jan 15
27
8
16% May
Jan
18%
Jan
46
Jan
4
37
Jan
*48
May
8
Jan
4
60% May 16
14% Mar 22
May
par
15% Apr 25
353/8 Apr 14
88% Jan
3
158 /Mar 6
71% Feb
29% Apr 27
1093A Jan 27
No par
100
Jan
Jan
Feb
Apr
Jan
_25
l%Jan
5
15% Jan
3
27
29
25
28 :,
4
3
33% Jan
—
.No par
100
RR
stamped—100
No par
—100
conv—_—100
1
Co
3
27
Apr 22
107% Jan 21
84% Feb
13
19% July
32%
Nov
44%
3
7
86%
Nov
100%
158%
Apr
168
62
9%
34% Jan 24
114% Mar 13
8% Mar 17
8% Mar 2
174
Jan
5
74
Jan 31
173% Jan 12
21%
6%
106
U
Nov
8 %
Jan
Apr
July
38% July
Jan
115
Jan
Mar
Mar
6
Nov
9
6
Jan
9%
144%
Jan
56%
Jan
162
Jun
July
78% July
15% Apr
Jan
11% Mar 15
8% Mar 7
9% May 11
6%
6%
154%
673/4
165%
Jan
Jan
4
Mar 16
Jan 14
Feb
Jan
31% May
11%
May 10
77
3
100
Co
173%
413/8
99
162
7% Jan 28
Chem
&
pref series A
pref series B
Mfg
Apr
%
17% Mar 22
Laughlin Steel
Jones &
700
413/4
39% Mar 22
;
Chicago
&
Joliet
6,100
,
Jan
1% Mar 15
preferred
Corp——No par
65
Nov
9% July
22%
4
Johns Manville
100
July
68%
30%
93/a Mar 22
13/b Jan
24
114
<
Jan
10% May 10
No par
Machines
21600
21%
V
74% / -v
*11%
74%
11%
11%
*17%
.
Jan'
3%
21
4
No par
Jewel Tea Co Inc——
4%%
Feb
2
July
57% July
Mar
59% Aug
Mar 22
8% Feb
No par
3,300
'
74%
"
10
Sep
July.
3
preferred
213/e
21%
65
.
17
11
:&100
Rubber
Jarvls (W B)
500
31%'
91
*90
;;
.
14%
21%
21
21%
8,200
V 1,100
33
31%
112%
*109%
91%
28,300
V
*139
14%
*31
112%
/
31'/a
14%
14%
31
*139
32%
33%
*31%
139
.
100
600
66
*16%
13%
470
;
373/4
*13%
13%
5,200
,
,
45
3
Hydro-Elec Sys class A
4%
Jan
9% Jan
26 Ve Jan
No par
Iron
Business
36%
4
-
*117 V 127
327
'
480
.
10%
80
13,700
V
A.
79
15%
43%
12
Jan
65
Jan 13
International Mining Corp
—1
' 4% Jan
3
Int Nickel of Canada—
No par ..': 25% Apr 19
1?, Preferred
-100
130
Jan
3
International Paper Co_
15
13% Feb
7
v,
5% conv preferred
100
66
Feb 11
Inter Rys. of Cent Am
No par
73% Feb 3
5% preferred
100
68% Jan 4
International Salt
No par
39% Jan 13
International Shoe
No par
35% Jan 13
International Silver
50
56% Jan
3
1% preferred
_
100
117
Feb 3
Intern'l Telep & Teleg
No par
11% Jan 12
Foreign share ctfs
No par
11% Jan 12
Interstate Dept Stores
No par
15
Apr 19
IntertyDe Corp__
No par
15
Jan
4
Island Creek Coal—
1
29
Jan
6
$6 preferred
■
—
-1
138 % Jan 17
•
900
4%
78
15%
*37%
6
22% Mar
20
Corp
International
200
26'A
10
15%
Int
1,400
132
10%
15%
9%
11
—1
Inc
Preferred
2,800
69 3/i
78/
14%
15%
9%
2%
16%
16%
14%
10
1% Jan
Apr
Aug
42%
44
21
35
Jun
:
105
30% Feb
17
117
SepJan"
11% May 11
Mar
17% July
•;
31
4
3
:
•.:»
10% Jan
-No
International Harvester-
500
172
15%
14%
75%
a
16%
16%
*69
4%
*4%
172
2%
*2
16%
70
4%
172%
172%
2%
2
131%
25%
*131
Int
800
12%
9
7% Feb
No par
—No par
preferred
6%
7%
173%
26
60
7%
172
64% Mar
112
66% Jan
63
Jan
115
403/4 July
Jan
7
.
25% July
vl&%r,JahVr
28 3/4
V Aug-
21% May
Jan-">
14%
,
118
100 > Jan
1000
:
Co
Interchemical
200
32
111%
July
'
25% Jan
Inspiration Cons Copper
7
2%
131%
32
*110%
111
-
17
3
No par
—100
Insuranshar.^s Ctfs
600
7%
173%
25%
2,600
7%
2%
*4%
9%
8
7
173%
*131
111
112
112
32%
*31%
32%
*31.
V
8
71
100
Rayon—
Steel
Inland
1,900
1-136% Aug
100
Ingersoll-Rand
6% preferred
20
-
9%
10
*7%
'
—
76%
76%
76%
10
10
1,200
96
•
8
75%
75%
31%
*162
■
Industrial
Jun
87
Jan
100
Indianapolis Power & Lt
1,600
7 %
72%
3
Jan
3
20
,
Co
series A
ctfs
6%
172%
72
69 %
*lh2
10
96
96%
96%
96
162
75
*2%
*69
16%
39
96
76%
173%
*16
16%
See
7%
172%
72
16
par
4%
lines
7
3/4
7
7%
7%
800
38%
162
165
112
620
16%
%.,;■: 8
*111
112
12 34
38 %
8
31%
32%
*31
110%
.
8
RR
60%
16%
10
75%
93/4
*7%
Leased
12 3/4
!
Aug
29% Dec
Jan
443/i Mar 16
3
Jan
100
preferred series A
330
60
:<xv4
9%
75%
9%
.
8
„
6%
RR
Central
Illinois
Jan
45% Jan
3
25
1
Idaho Power Co
22,600
123/4
12%
38%
*7%
75%
76%
9%
*162
May M
4 V
Apr
Feb
.No par
-No
Hudson Motor Car
-
3,000
16%
38%
96%
95
96%
165
*162
Jan
117
,
'
*16
16 %
preferred—..
Ltd
non-cum
Hud Bay Min & Sm
Hupp Motor Car Corp
60%
*60
60%
12%
39
23
100
Manhattan
&
Apr
172
Dec
7
5
2,400
■
15%
60
Feb
54
2,000
:
36
12
38%
9%
15%
35%
60%
16
*7%
15%
36%
12
37%
76
15
34%
60%
16%
97
15%
36%
12%
38
165
,
14%
14%
34
16%
97
26%
8
34%
14%
38
*162
.
":■■■/, 1%
34
5%
400
8%
25%
60
*11%
Hudson
*7%
1%
14%
60
12
26%
26%
800
'*'•
1%
73
6
108
Howe Sound Co
25%
34
14
*33
-
900
25%
8
15% Mar
Oil of Texas v tc.
253/a
'
25
25
25
3
Houston
31%:.
■i. *31%
1%
31%
31
31%
31%
,
•13% Jan
23,100
•
-
71
Jan
/ 49
6
2,000
1138
110% July
•
Jan
>
128
22% May 18
4
39% May
16 3/8 Feb
par
25
5%'. preferred—-————
350
21.)
10
Light & Power Co._ -No
'
_
Household Finance
500
,
65%
11%
20% Jan
Houston
Class B
■'•«
•
213/4 May 17
13% Jan
42
60
64%
'
36% Mar
,
133/4 Jan
Houdaille-Hershey cl A
* 5
' Mar 10
117% Apr "v 5
2
116
12.50
Jan
152
66% Mar 18
Apr/27
193/4 Feb
par
110
64%
64%
10%
r
-No par
Jan
-V.-123%
134
3%'May
Jan
25
Oct
10% May
■
114
No par
'
1,400
'
10%
10%
60
110
60
*58
10%
64%
64%
*64
'
60
109%
109%
109%
109
1093/8
*57%
58
58
58
*57%
109
5
1%
563/4
21
3
•1093/4
■
'
10
.
Deo
93%
■
25
7% May
Jan
•
Jan
-
18 3% July
144% May
Jan
6
81% Jan
24
18
Jan
No
200
:
15%
15%
15%
14%
Apr
Jan
.
(Del)
Homestake Mining——
2,300
43
*42
43
*42
•
14%
40%
75
4%
86
4
Jan
Sep
Jan
Feb
273/8 Feb
163
128
(C E) sThei——
preferred
7%.
■'
40%
40%
40%
-
Holly Sugar Corp
1,600
*116
*116
*116
Co
Holland^ Furnace
-:Hollander^& Sons- (A)—_—
14%
42%
*42
> Hires
300
1,200
15%
143/4
14%
14%
"vv
'
15%
*14%
15%
*21
3
753/4 Feb
Mar 11
r
■■:.'•
;
1
23
IO73/4
Jan
13%
107% May 19
6
'■>-63
10
Hinde & Dauch, Paper Co—
100
28
20% Apr 24
100
-No par
—No par
preferred
$4 conv
100
116
160
993/4
135
73/4 Mar 15
v
Mar 13
.
11
Mar 13
108% Apr
7% Feb
5
28
2% Jan
99
633,4 Jan
preferred'————
Hershey Chocolate—:
w
21 3/4
•
40%
15
64
14
6% Apr
Feb
146
Highest
$ per share
$ per share
17% Mar 16
8
5% Jan
<•
No- par
—No par
Motors—;
Jan
■
104% Jan-;
25
25
100
Co—
—
7%' non-cum. preferred
6%
50
:
Glass
108
18
1
1
$ per share
24
138
Corp—i^L.—.
W)
Apr
15% Apr
par
100
.-1
—100
■i, Hercules Powders
900
76%
22%
213/4
*14%
42%
*114
114%
-
Hercules
.3,900
130
*62%
64
(G
Helme
v
39
"*21%
*116
40%
41
42
*128
130
*128
% Hayes Mf g
&Hazel-Atlas.
270
Year 1943
Lowest
Highest
$ per share
105
No pa*
—No
I; Hayes Industries Inc__—;
200
23%
76%
763/4
75%
75%
130
*128
90
163
23
23%
2334
*114%
403/4
2,600
'
70
*162%
163
*162%
23%
116
39
*116
42
163
21%
*62%
14%
*14%
14%
*14%
*116
-
64
•
23/4
107%
*69
2,500
■
par
.
preferred..:.Hat Corp of Amer class A
6 % % preferred
300
2%
69%
753/4
76
130
*21
•
-
15%
*14%
15%
.
6%
2%
106%
69%
*62%
39
*14%
2%
106%
69 %
64
21%
*21
*21
39
2%
107%
*162%
163
7%
107%
107%
2%
*114%
*21%
7%
69%
'*
Lowest
.
6%
6%
6% '
/v.
'•
-
,
Hanna,(M A) Co $5 pfd
Harbison-Walk Refrac
140
,
1,400
145
*106%
107
*6%
*62%
116
*115
116
75%
'130
129%
107
*106%
23/4
223%
22
1
129%
*62%
64%
*63
*115"%
76
*75%
76
130
6%
69%
*162%
22%
22%
7
1073/8
*6%
107
*68
71
223/4
"*75%
*128
*68%
163
!
6 3/4
*6%
6%
7
107%
6%
6%
*140
7%
7
■7
*107
107%
*106%
107%
*6%
7
*6%
7
105%
15% ''16
145
*140
145
*105'
15%
*15%
15%
15%
*140
Range for Previous
EXCHANGE
■
Shares
$ per share
share
105%
105
105%
105%
105%
145
*140
$ per
$ per share
share
16
15%
15%
145
*140
107%
*104 %
105%
15%
15%
145
$ per
share
per
105%
105 %
15%
**140
$
share
Monday, May 22, 1944
:
Range since January I
STOCK
NEW YORK
the Week
May 19
May 18
May 17
Sales for
Friday
Thursday
Wednesday
•
$
•
STOCKS
SALE PRICES
Tuesday
May 16
Monday
May 15
CHRONICLE
THE COMMERCIAL & FINANCIAL
-
177
177
Jan
Apr
Sep
74%
Jun
July
%
Jan
17% Mar 23
11%
Jan
19
70
May 17
r5% Feb 21
28% Jan 17
134
Feb 14
16% Mar 16
79
May 19
10% May 18
81
May 18
.
43% Apr 19
37% Mar 16
71% Mar 10
120 % Mar 9
14% Apr 6
14% Apr 6
17% Jan 15
55 %
Jan
3%
Jan
67". July
6% May
Tr" 2% Mar
6
25
/■
Nov
129
4% May
Dec
Mar
36%
138
Apr
July
8%
14%
45%
>
Jan
Jan
69%
Dec
3% Jan
11%
Jun,
37%
Jan
Dec
71% July
.39
July
28
Jan
38% July
36
Jan
60
Dec
102%
Jan
115
July
6%
Jan
167/« May
16% May
44
Apr,
6%
Jan
9%
Jan
18%
Sep
17
May 18
10%
Jan
18
Jun
33
May, 19
27%
Jan
32%
Apr
141
Mar 15
Jan
145%
Jun
15% Mar 22
31% Jan 14
Feb
110
15
Mar 13
96
8
10
135:
9%
26
16% July
Jan
.Feb
34
99% Mar
70
July
109% Aug
92% Sep
Jan
90
Aug
79
3
May 8
23% Mar 16
78
20% Jan
19%
Jan
26%
Apr
Jan
5
66% Mar 22
54
Nov
65
Apr
66% Jan
4
76% Mar 16
64%
Dec
82
Jan
14
8%
Jan
12%
90
May
58
12
May 10
16% Apr 27
19
Mar 21
121% Apr 25
6% Jan 3
19% Jan 4
124
10%
.
Aug
✓
Apr
Jun
K
*120%
*120%
*120%
__
18
*17%'
*120%
•
*120%
*
9%
9V4
9%
9%
10%
9%
10%
*33
343/4
*32%
333/i
33%
34%
34%
35 %
*15%
15%
*15%
15%
9%
"
18
Kansas
'
*105
*15%
*105%
*105%
jjj
*17%
18
*17%
*111
—A.
18
18
/;
21%
21%
*15%
153/4
15%
.
;
15%
15%
16
16
16
16 J/4
*109%
112%
*1.093/4
30%
30%
30%
*20%
20%
*20%
20%
*20'/a
*34 %
36%
*34%
36
*34%
*4%
23
4%
*4%
*58%
59%
*58%.
23%
22%
23
15%
19
213/4
900
21%
16%
*110
700
■;
2,400
112%
30%
31%
30%
31%
31%
31%
8,100
20%
20%
20%
20%
20%
*20%
20%
34%
35%
*353/8
36%
*35%
36%
36
*110
111
,
-■
111
111
•
4%
100
59
60
60
59%
593/4
170
23 %
23
23
23
23%
23
23%
*4%
4%
4%
4%
3,200
■
*8%
9
*8
9
*8%
9
*8%
9
*8%
9
31%
313/4
31%
31%
31%
31%
31%
31%
31%
31%
*33%
34%
34
34 %
34
34
33%
33%
33%
33%
11%
11%
*8%
32
*33%
9
32
preferred—
Kimberly-Clark Corp
Kinney (G R) Co
$5 prior preferred
Kresge (S S) Co
;
Kresge Dept Stores
300
*4%
59.
4%
Dept Stores
conv
(S H)
Kress
1,500
No par
No par'
:
I
No par
Laclede Gas Lt
No par
Kroger Grocery & Bak;
170
:_1
No par
.10
& Co
800
33%
*
Keystone Steel & Wire Co
200
59
preferred
—
10
31
112%.
non-cum
13%
100 > :• 102 .)
Kayse'r' {Julius)V& Co—>1* 17
Keith-Albee-Orpheum conv pfd.100
110
Kelsey Hayes Wh'l conv cl A
1
20
Class
B—
1
13%
Kendall Co $6 pt pfd A
No par
111
Kennecott Copper———
No par
30
5%
10
16%
.
City Southern—
Kaufmann
300
,
*111
21%
.
*18%
4%
1,100
*105%
18%
*111
21%
30%
22%
105%
18%
18%
.
15%
16
105%
'
21%
112%
4%
36%
21%
30%
59
18%
*111
.
21%
*109%
*41%
18 3/8
*15%
'
-
*35%
*21%
21%
16
16
*15%
*105%
*111
*111
*21%
58
16
106 A
.
10
No par
No par
100
1
& Furn
City P & L nf ser B
Kan
*120%
11
10%
Stove
Feb 19
Jan -5
Jan '4
Mar 6
Jan 25
Jan 26
Feb 25
14% Mar 28
39%
16"%
105%
- 19%
111
Mar 11
Apr 17
May 18
Feb 3"
May 5
22% Mar 8
16% Mar 17
May 18
115
Feb
4
32%
19% Jan s7'v
20%
31% Mar 4
36%
3
Feb 17
5%
54% Jan 28
63%
22
Feb 11
24
6% Jan 25
9%
27% Jan 4
32
31% Jan 4
35%
May 8
Mar 17
Mar 8
May 3
Mar 22
Mar 22
Mar 6
Mar 7
May 19
Mar 17 •
*12% Jan
121
Dec
5% Jan
19
Dec
7% Jan
83
Jan
11% Jan
103% Feb
14% Jan
8% Jan
102
Jan
28% Jan
15% Jan
25
Jan
1%
34%
18%
2%
23%
24%
Jan
Jan
Jan
Jan
Jan
Feb
19% Sep
y
127
10%
29%
17
104
Aug
Apr
Apr
Sep
Nov
'<"'17 /'Sep1
115
Dec
'24% May
.
16% May
113
35%
'■"■ 20%
34
6%
58%
24%
10%
32%
Apr'
Apr
July
July
July
July
Sep
Apr
Sep
32% Nov
L
*11%
11%
11%
*67
68%
27%
27%
27%
11%
*11%
11%
68%
*68
*68
68%
27%
27%
*11%
68
*27%
27%
68
28
68
*273/4
*11%
113/4
68
68%
69%
28
28
28
11%
60
800
-
*21%
22%
*21%
22%
21%
21%
*21%
22%
*22
22%
22%
22%
*40
40%
*40
40%
40
40%
40%
40%
*40%
40%
40 34
40%
9%
9%
9%
9%
9%
9%
Lane
500
9%
8,000
9%
9%
9%
9%
9%
!
200
Lee
-
•
*23%
>116%
*5>?
23%
117
5%
1%
1%
21%
21%
30%
23%
'116%
5%
30%
117
22%
223/4
22%
116%
116%
116%
5%
5%
53/4
5%
*1%
1%
*1%
22%
.22%
22%
117
1%
-22
30%
5%
5%
1%
22%
5%
30 %
30%,
22%
117
22
30%
30%
22 3/4
117
22%
22%
910
5%
1%
1%
1%
1%
1%
22%
22%
22%
22%
22%
1,800
30%
30%
30%.
5%
30%
30%
*18%
•
19
*18%
19
19
19
18%
19
19
19
18%
18 3/4
39%
40
*39%
39%
39%
39%
39%
39%
39%
39%
39%
39%
49%
50
49%
49%
49%
39
6%
6%
41%
41%
For
footnotes
49%
49%
6%
6%
6%
41%
41%
*41
see
page 2099.
49%
7
41%
,
6%
40%
2,800
116% 117%
4,800
2,100
6%
7
40%
6%
*41%
49%
7
41%
Co.
(The)
Bryant—i
700
700
•v
Lerner Stores
49%
49%
6%
6%
10,800
41%
41%
500
5,300
Corp
Corp
Libbey Owens Ford Glass.
Libby McNeill & Libby.
Life Savers Corp
16% May
'Feb
11
13
Jan
62
Jan
14
73
Mar 30
35
Jan
73
Oct
26
Apr
17
29% Jan
6
17%
Jan
293/4
Jun
par
17% Jan
19
233/, May
5
11%
Jan
193/4
Jun
38
Apr
24
41 % Jan
10
26%
Jan
3
.No
Co.—_10
Portland Cement—.
—25
(The)—
Lehn & Fink Prod Corp
2,300
Lehman
Jan
11
100
par
Rubber & Tire—
Lehigh
9%
100
-No
Lehigh Coal & Navigation
4% conv preferred
Lehigh Valley RR
Lehigh Valley Coal
6% conv preferred
17
:
preferred-.
5%
•<Lambert Co
—100
-50
No par
—50
1
8
t
21
Apr
113
26
Jan
39%
Oct
Mar 13
8%
Dec
9
Dec
31
20 >•
Jan
29
July
II73/4 May 19
7% Mar 21
107%
Jan
120
July
2%
Jan
10
243/a Jan
Jan
7
4% Jan
3
1% Jan
29
1% Apr
10
15% Feb
4
25 % Apr
10
29% Jan
4
32% Mar 20
19
%" Feb'25'
if Jan
8% May
2%
11%
Jan
203/4
24
Jan
32
14%" Jan
22%
Jun
Jun
July
Jun
18% Jan
5
36% Feb
14
41
Mar 18
23%
Jan
38%
Jan
3
50
May 11
31
Jan
43%
Dec
6% Apr
24
8
8
5
Jan
87/a
Jun
Jan
8
42
39
Apr
43% Mar
1
30,
u-
Jan
41
Dec
July
•Volume
THE COMMERCIAL & FINANCIAL CHRONICLE
Number- 4283
LOW
$ per share
May 16
$ per
'■
72
'
$ per shctre
share
72%
72%
72%
stocks
Wednesday
May 17
Tuesday
May 15
May 13
72
HIGH SALE PRICES
AND
Monday
7
Saturday
*72
72%
$ per
73
73%
73%
73%
*177
28
28
28
28
36%
37%
*38%
75
*176%
178
28
28
*26%
28
37
'
74%
75
*177
73%
741/4
*
178
500
■
*26%
74'/2
*271/4
28
7
28
37%
37%
39
*38%
38%
38%
39
39
39
*38%
391/4
21%
*21%
21%
21%
22'A
21%
22%
121%
22%
23%
21
23%
23%
24
36%
*38 %
<
•
24
371/4
24 %
37%
37%
37%
15
%'
15%
15%
15%
15%
151%
15%
15%
15%
61%
61%
61
61%
61*
61
60%
61%
60 %
43% <43%
43 %
43%
43%
43%
43%
44
43%
44
44
44
10%
10%
11
11%
11%
11%
11%
30%
30%
30%
*30y4
31
30%
18
18%
17%
18
18
18
*160
158%
158%
*21
*157%
'
87
..
,
*157%
159%
r-'i 159 %
159%
21
21
*21'
86%
*86%
87%
26%
86%
.
18
>. 21%f
*21
21%
,
*86 %
*30%
18%
*18
17%
*25%
26 y4
■v.
160
■
159'%
■
'"
160
21%
21%
88
*87 %
88%
26%
*26
261/4
21%
,
87%
-
24
21%
7
24
Jan
40
21
34%
Jan
43
4
12 Va
Jan
13
Mar 17
42%
16
37 Va
Jan
Mar 21
6%
Nov
43 Va Mar 16
Jan
Lone Star Cement Corp_„. —No par
40% Feb
Long Bell Lumber A__.
Loose-Wiles
Lorillard
2,500
30
7-7
1%
700
par
—
28
10
1
3
12
3
Jan
July
21% July
21% Jun
12%
18% Mar 17
v.
Nov
25% Mar
Jan
64'% July
51% Jan
11% May
18%. Jan
31
Oct
16%
Oct
21 Va
Jun
148%
7
Jan
Jan
5
162% May
4
—No par
20% Jan
12
22% Mar
,7
15%
Jan
100
69% Jan
3
90% Mar 17
59%
Jan
Louisville & Nashville.
May
15%
31% Mar 16
29
;
Jan
.151'
47% Feb
24
17% Apr
100
preferred-
"Mar
8% Jan
1,
.-25
Co
Louisville Gas & El A
:
700
88%
Biscuit
(P)
»
Jun
44
6
62
300
21%
*87
25
15% May.15
-No
Jan
Apr
58
•
•
22%
July
182% Aug
28% May
Jan
-No par
Lockheed Aircraft Corp„_.
^_1
Loew's Inc
-No par
5,000
71
73%
Dec
19% Jan
Liquid Carbonic. Corp
162
31
17%
15
22% May 17
24% May 11
185/4 Feb 2.4
30%
18%
"30
.
*10
*10
'10%
'^*30%31
v
Feb
28
Dec
Nov
171
13
Highest
$ per share
18% Feb
36
37
par
-No par
Lion Oil Refining Co
76% Mar 18
1,400
61
10%
-No
par
62
62%
73 V2 Mar 22
180% Apr
9,300
15%
61%
*9%
-No par
Link Belt
600
1,600
23%
15%
■
3
-No
$ per share
4,100
23%
23%
8
Lima Locomotive Wks
3,300
6i %
24%
3
26% Feb
$ per share
3
67 W Jan
174'/a Jan
Lily Tulip Cup Corp__,
1,200
'
V 15%
24
Preferred
400
68% Jan
25
—-100
B
Series
130
Year 1043
Lowest
Highest
$ per share
25
Liggett & Myers Tobacco„
1,700
■
178
*177
21%
'
39
*20%
74%
177
37
178
37%
74
176%
73%
177
Range since January 1
Lowest
Par
'
73 %
177
Range for Previous
stock
york
Exchange
Shares
share
*72%
73
new
the Week
May 19
$ per share"
73
Sales for
Friday
Thursday
May 18
share
per
2095
163% July
22% July
79
July
M
'
26
26
*25%,
*137
*137
*26-
>: 137
137
•
*137
*137
38%
38%
39
39
38%
39%
39%
S9%
31%
31%
31%
31%
31
31%
31%
32
*15%
16
*15
390
7%
*11
f*
*11
11%
20%
*19%
20%
V>>>*2%
7
■
2%
2%
7
'. 17%
6%
6%
7
18
17%
*13%"
...*2%'
18%
6%
20%
*19%
20%
2%
2%
*2%
6%
19%-
19%
19%
19%
6%
45%
6
6
v
6
48%
6
v
r
49
25%
46%
i.
*25
7
21
14
14%
19%.
14
■'
19%
50%
14%'
19%
6%
6'/a
-
50%
20%
19% r-i
25%
v*20
*25
20
20%
*173
175
54
54
6%
6%
6%
5%
>•5%
*33%
34%
''
54%
50%
51%
50%
25%
25%
20%
("20%
5%
34%
22%
22%
*16%
17
*111%
113
*28%
29
*16%
17
5%
*34
5%
lG7^
•
..
23
175
55%
'
5%
34%
•.
34%
*109%
23
*172%
34%
03
23
16%
*16%
-
113%
*111%
113
*28%
29%
16%
16%
*16%
113
*111%
Corp
Jan
12
Sep
9
14%
Jan
19%
Apr
1 Va
Jan
7% May
par
—1
Wks
Alkali
No
17
>
McCall
700
300
32
197/a
Nov
175
58
i
24
165
Jan
37
Jan
McCrory Stores Corp
conv preferred
'
60
f
6% Mar 16
35% Apr
27% Mar
2%. Jan
>
217/a
11
Jan
3
13
16
—1
100
w W-
36
Jan
12%
110
Jan
17%
Jan
104
1,3
Oct
Sep
22% Aug
Jan
11%
17% Mar 20
112 Va' Apr
'
Aug
Sep
7% May
Feb
100
24% Mar 27
7109% Feb 23
July
176
Mar 20
5
Jan
27
Jan
110
7
19% Jan
27
22%. Jan
4'/2 Mar; 6
•
—
7,7 5%
113
*111%
Corp—
Jun
Jan
2
106'/2 Mar
7%
43% July
22
4
32 % Mar 10
—
Jan
May
31% May
2
52 y8 Feb
.
Apr
July
24=
51% May 17
•* Mar
170
-10
37/a
24
18%
117
28 Va Jan
19% May
par
.100
preferred———;.—
14% 'Dec
■> 6% Feb
3
;
Jan
20% Mar 27
i
Jun
4% July
6% July
9%: Jan
5
Mar
8%
Jan
9-
Mar 1-6
'
15
•
37 V4 Apr
4
25% May/ 5
,•
3Va
May 17
21
3
4% Jan
7
par
Corp—
Elec Co
16% Jan
■i
Maytag Co
;—(—;—,—No par$3 preferred
No par
$6 1st cum preferred
No par
400
6%
13%. Apr <27"
-_1
j.
Co.
6,800 1
22%
.M7
113
L)
1,200 i
:
Mar 24
24% Mar
320
'
*22%
'
V
17
*111%
16%
16%
:'r.'
< Glenn
Mathieson
-7 %
' <-;-
Jan
5
Martin-Parry
'
Nov
3%
3
May Department Stores
35%
*'
;:'22%t|'
6 Va Jan
12 '/2 Jan
Master
1,700
.
Nov
315
8
19
<- .Masonlte
*1091%
..*22%
23
!
15
15
.3% Mar 17
2'/a Jan
Martin
300
5
Feb
20% Mar
—1
i
Jan
Jan
24
;
10
30% July
15% Dec
8% Jan
13
—5
Jun
Jan
17
14
18% Feb
St Ry 6% prior pfd
.100
Marshall Field & Co
No par
NoV
37%
19%
25
138%
Jan
370
21
-25
Market
2,400 7
55% 7
"*341/2
Jan
6% Apr 24
lOVa Feb
7
par
'
:
r..:
315
.7 ;
29
July
28
16% Mar 30
Maracaibo Oil Exploration
Marine Midland Corp
15,800
5% & 6
-
351/4
*109%
22%
17
*111%
'
-No
3,200
1
20%
175
55'%
6 '
5%
35%
*109%
^
20%
*1721%
v-
-
551/4
-
■•.'•'-*5%
5%
*33%
*109%
20%
Bros—1—
5,700
25%
54%
54i%
Mandel
12
•>: 15% May 12
—I
13,000
50%
25%
175
*1721%
54%
—
Co
Jan
32% Feb
Jan
133
Apr 26
39% May 18
3
.
20%
1
139
27
14
.7.50
38,670
r
6%
51%
20%
20%
54%
CoDper__;
Sugar
1,100
19%
25%
*25
*172% 175
175
54%.
*109%
20%
20%
*172%
25%^
Magma
•
400
'
*25
par
-10
21 ;
27 Va Jan
.7
27% Feb
6
-
Feb
34'/a Jan
Manhattan Shirt
14%
19%
per
Manatl
-
19%
19
.
—j
*135
par
5,700
-
25% Apr
.100I
Mahoning Coal RR Co—
'
11%
- -.
^10
;
Macy (R H) Co Inc_
*19%
19
--
1,000
8
"20%
•2%.^ ..-%*2%' V 2%'
7
7%
+
71/a
7
;
4,500
390
11%
14%
-
.
16
7%'
11%
19%
14
19%
45%
*11
20%
17%
13%
v-
Forbes
&
preferred
Mack Trucks Inc
Madison Square; Garden——J
7
151/4 / 15%
*355-
:
7'%
11
7
18%
*15%
6%
'3,300
31%
■
MacAndrews
'
40
,
.31%
15%
390 ■:«'
7%
400
;
39%
39%
':: "'"
•-. 16
*355
7%
:
-
*19%
*'.?/* 13%;
14
32
15%
390
11
39%
*15%
*
15%
*
7%
*1-9%
2%
*15%
*355
7%
11%
-20%
'•/".= V r'2%
15%
390
,
7%
7%
,
26%
*137
39%
31%
16
*15%
'•
11%
*19%
*355
390
7%
.
16
15%
15%
*355
7%
*11
:
15%
15%
"355
*15%
16
*15%
26%
113%
Sep
Oct
'
v
*47
•'
-
48
22%
11%
r'
•'vf'
48
48%
49
49
22%
22%
22%
22%
99
98%
98%
*98%
*10%
11%
10%
*
48
10%
*113 %
■;
*113%
116
*8%
9
8%
*80
83
34
34
93
*9%
9%
44%
44%
*44
••
*28%
33%
29
*9%
;
•91/4
*89
33
10
82
*33%
11%
93
-f
"i
10
10%
10%
46
45%
29%.
28%
;
■
*27%
'
*28%
29%
29%
29%
29%
29%
45
'
"
ioy4
"
-
10%.
.(•
47%
•
*28%
,
29%
*6%
6%
25%
6%
31%
*6%
25%
25%
*31%
f
V
53
32%
126 %
31%
126 %
*51%
6'/a
25%
26
126
29 Va
*28%
V
126 %
$5.50
126'%
*6'/a
01/4
6 y«
26%
261/a
26%
31%
52%
52 V*
*39%
40%
311/4
54%
53
31%
125 %'
126%
:
••
54V2
54%
40%
40%
39%
'40%
*108%
*108%
109%
109%
*109%
*108
*108 %
*1081/4
*107%
*1081%
6%
*6%
*100
20
6%
20 %
■■v'
2%
'
:
20%
6%
6%
104
7
104
20%
20%
20%
6%
*99i%
104
*99%
7
7%
20%
21
55
39%
Machine
Miami
4%
Jan
Jan:
4
91
Apr
27
Jan
3
83
May .3
7% t
Minn
12,600 i
21
8]/a Jan
V
*2% •/ 2%
••
11%^
11%
■■■*
34
20%
*20%
'"■75%'
2%
■it". *2% -A-,-2%
12%
12%
12%
12%
13%
7--TT12% 713%
34
34
341/4
34%
35 "•
2%
2%
12
12%
34'
*33%
*33%
20%
.20%
.
•75%
75%'
"
115%
2%
2%
■
W'
20%
*19%
:w; 76 ;
.
*20
'
2%
20%
76%
*111%
112%
II41/2
II41/2
109% ,109%
42%
421/4
*109%
1091/2
42%
42%
43%
39
*37%
20%"
V
76%
*111% 112%
*114 i" 115%
76
*109%
42%
*37%
39
1
.
112%
* 115%
*114
109%
'.42%
-112%
-
115%
."•<
:
•:
27% Jan
7%
76
*20
20%
76%
77
*109 %
V"
42%
*37%
109%
20%
^77
H.
112%
77
.
300
•
" t
■
112% :11'2%
?. *114%' 115
*io9y8
17% Feb
No par
,100
20
7
-
39
-23%
24
*17
V
17%
19%
-7:.
•-■■'.23%
v?
17%
19%
*27%
f>" 5%
1.7%
.
24%
17V4-
19 Va
19%
19%
*27%
? v
28%
-
.17%
28%
*271/4
5%
5%
v
-17% > 17%
19%
19%
43%
*27'/4
r
28'A
<!
241/4
5%
83
83
83
*82
84 rA
21%
21%
21%
21%
*21i/4
22
*211/41
74
73
73
73%
*72
73%
191/2
500
27%
'(
13,700
84% ;
_
22
300
**711/4
73
.
•'''/
*72
*112%
'V *113%
115
9%
-
9%
93/4
48
*46%
"
-
*46%
*72
115
113'/a
9%
9%
48
9%
9% ?■.: 9%
113%
; -:
10
•10
"
48
*46i/2 '
■v
30
113% '
-'■>*97/8
■
48
*46%
.
; .-
115
9%'
-
.
48
*461%
48
*46%
* *113%
114 '
*1131%
113%
22
i
v
.■■■'•
3,300
:
Feb
110
113%
% Mar 22
3
Jan
8%
Apr
Feb
Jun
64%
Apr
6
3 % Mar 22
Jan
98
July
13%
Jan
25
July
--y %
Jan
3% Mar
3%
Jan
17 Va
-May 18
Jan
11% Apr
30% Nov
21% May 12
81
?Jan
Jan
75%
18
117
24
Dec"
92'/a
Jun
113
Dec
119
Mar
117% Jan .14
116%
Dec
121
Apr
„111% Apr 26
5
106%
Nov
114% Aug
47 Va Mar 15
33 %
Jan
35% Jan
21% Jan
7
39% Apr
26% Feb
5
1
31%
Jan
39 %
13
Jan
27%
Jun
18% Mar 16
9 Va
Jan
17
Jun
15Va
11
4
Jail'
3
16% Jan
4
Oct
HVa
Jstn
18%
18
217/a
Jari
31
Mar
2%
Jan
7
Jun
Jan
77
Jun
Jan
23 Va
Jun
79%
Sep
29
.
Jan
Jan
3
9
53
29
23% Mar 27
15
70% Feb
10
76 Va Mar 22
62
Apr
111
July
,112% Apr 11
July
20% Mar 22
.
v
20% Apr
•',•172
50
6% May 19
7
19
4Va Jan
No par
100
10
No par
(G C)
4% %: preferred
Murray Corp of American
Myers tF E) & Bro
Murphy Co
Jun
July
Nov
,
29
y 26% Apr
No par
—No par
$7 preferred
'
.
Sep
317/a
107
15%= Mar 21
1
Munslngwear Inc
100
6%
84
Co
Brass
128
107
35
1
Motor
Mullins Mfg Co class B
Mueller
3
——5
Wheel Corp
r
Jan
8
Jan 27
,
Jan
41% Apr 26
•
—No par
Motor Products Corp
=
210
*21%
84%
r
(John) & Co
:•—No par
Morris & Essex——————50
*
107% Jan
$4 preferred series C
No par
Montgomery Ward & Co—-—No par
600
6
*711/4* 73""'*
84
V
2,400
•'•••
6%
83%
21%
9,030
271/4
'
83V4
25%
*191/4
28
f'
,T15
par
20 Va
Mar 17
22
25
,
30%
106%
Apr
Apr
9%
Jan
18
3
74% Apr
Jan
Mar 31
3
112 V4 Feb
Morrell
17%'':
:;"M7%-
19 %
27%
5%
5%
5%
5%
*19%
10
10,200
•
Preferred series B——-No
-■
38%
24%
17% /17%
19%
28%
'
5%
tr-r 24%
24%
> *21%
■
*82
24
24 %
:
:
43 ya
*37%
/
;
'
24
50
*109y8' 109%
43%
*37%
115"
,
Jan
5%
105% Mar 22
13
20% May 18
10
Chemical: Co—2
2% Jan
29
34%
112
3
5
/J-" 8Va Jan
No par
Mach .Tool—
.
July
32% Mar
;
109% May 17
6% Jan *19
93% Jan
preferred ser A—-—No par
$4.50
41
Jan
Feb
42
Bop
18%
12
55% Feb
Jan
26
126 Va May 13.
4
108% May
1
:—No par
&
10
preferred series A—
Carpet Mills
;
Monsanto
90
Apr
46
4%
4
32% Apr
13
116 Va Jany 4
100
10/)
Corp
Monarch
.■
1,500 i
i
.
115
v
109 %
431/4
39
*37%
39
*111%
27%-Jan
4
78% Sep
34% July
12% July
23%
6
Mar
Feb
25 V Jan
7% Mar 18
' Apr. 25
6
24% Feb
Mar 13
Mohawk
1,100 f
•
31
Jan
27
431% Mar 25
V4 Apr 26
Mo-Kan-Texas RR
2,100 £
12,100
35 Vs,-' •35
'
•
3
•;
'
113
Jan
89
60
48% May 18
4
1
27.
"
*112%
Jan
Mar,
115%, Aug
10% Apr
67% Jan
9
10% May 18
4
37
25
36
preferred
Mission
2,600
34 Va Mar
28 :
•
105
Moline Power Impl
$6.50
•
>
70
Regulator—No par
pfd series B__
preferred series C
Sep
Feb
,100
conv
Jun
11%
6
Minneapolis & St Louis Ry__No par
4%%
103%
1st preferred-+
Minn-Honeywell
r
20
112
20%
:
Steel
cum
25%
Jan
101
Products—--No par
8%
Jan
6%
11 Vr Mar 22
9
8
10
Midland
Jan
14 Va
Sep
.9
28
31 Va Apr
—-5
330
38%
25
Mar
10 Vb Feb
5
Copper-
■
113% Apr
•
1
50:
7
25
16% May
50% Apr
9
par
Petroleum
1,900
7
*1001%
Co
Jan
3
—1
Mid-Continent
900
.
401/4 '
n
7%
■
*100 '?■: 103%
20%
20%
v; 54%
Min
8 %
Jan
s"
2%
11%
*33%
6%
*100
103%
..-v-
40%
Feb.
82
No par
900
••t
*109%
*108
40
40%
Mesta
5,600
'..
126V4 •1261/4
*108%
39%
24
100
8
--No par
Trans CO—.—No
&
;
May 18
112'/a Feb
+100
(The)
1st preferred.:
Co
conv
Merch
700
32
31%
126
5 %
•
800
29
Feb
•<
,52
1
Apr -18
—No par '
4
Jan
Jan
17
.
10-
.
—-1.
i
series A
800
6%
26%
•
Mar.20
29
21% May
par
19 %
30% Mar 22
97
18
pfd ser B w w
Mengel
1,030
:
.7.'
:
6%
126
Co
Melville: Shoe Corp—
14,800
.
.
29% «■
26 »/2
31%
125%
52
*51%
29%
-
61/4
32
31%
-
47
7
,—5
—
S6 preferred
y
900
■77*27% 728%
25%
6%
26
Feb
preferred
conv
-
48%
''
14
•
29 E
10%
33%
Stores
•
'V."
No par
——_———No
Mead Corp
70
82
47%
10
McLelian
1,500
32%
29
preferred
7 6%
9%
*89
33%
45
$4
7
116
Apr 27
Mclntyre Porcupine Mines
-
200
'
27
——
McKesson & Robbins Inc.a
.
300
*80
,
29
%
1,100
1,700
*113%
'/:
45
9%
<
98% r
91/4
91
*27%
9%
491/4
22%'.
*10%
'
j— I
McGraw-Hill Pub Co
49 "
9%
82
;•
>i
GOO
98%
116'
91
82
33
McGraw
22%
;
:
10%
x9%
92
*80
■
33%
"•
99 •
:■'? *113%
116
9
83
*80
48% '• •/,-
*113%
91
91
.
45
29
11%
*10%
116
8%
*91
33%
'
22%
99
400
18
:l
*17
'
Elec Co
29% 7
291/a
17
22%
83
33%
16%
48
93
/
*80
17%
99
10%
8%
*91
*16'%
29%
22%
*98%
115
*113%
'.*28%
22%
99
*io%
28%
48
;.
22%
*98%
28%
17
*16%.
f
■
•
29
29
84%fMay
116% Feb
24
,
Apr
117
8% Jan
3
10% Mar 13
5%
Jan
Aug
11% July
43% Jan
5
48
8
34 Va
Jan
44
,
Mar
Feb
N
«I
0*
%
Iff
12% y
31%
12%
32
*31%
32%
15 Va
15%
15%
12%
12%
32
33 Va
15%
32%
12%
%
12%
15%
15%
-
.
,12%
%
32%
v
12%
=
■
'
12%
■
*33
.12% i
12%
'•■
33 %
*32%
33% i
14,600
Corp
Nash-Kelvinator
.
Louis
100
1
Nat Automotive Fibres Inc—
St.
'
15
15%.
*9
*9
9%
11%
;.
11%
*10%
i;
11
SVa
m
9%
9%
11%
11%
11%
11%
11%
11
10%
10%
10%
10%
*10%
20%
20%
20%
i:/ ,20%
20%
20%
174
18%
19
15
15
*170 i
19
*18%
15 Va
15%
28%'
28%
■
174
*170
"
172%
*18%
19%
-28%
14%
14%
J'
,
14%
15%
14%
16%
16%
16%
15%
28%
,
29
29
29
28%
15%
16
14%
15%
i
12
.
;■:.' i 11%
11%
*
20%
T
20%
14%
ii:'
*11%,
*11%
12
*11%
*
-
147/a
15
*11%
'12
10
*92
••:
20%
20%
172%
*17%
6
'
12%'
*26%
'
;
18
*86
!
92
-
10 Va
91%
20%
172%
:
20%
*171%
150
*147
30
21
21%
171%
18
■;
29%"
-'■•
.' 6 • :
59%
.
>29
■
'■
18
30
*18
V
:
30
:
18
is
i
" i 30
*29
59%
.6
.6%
59%
•
=
.59%
.
/
13%
i3%":
*'.27%
'28 v ,'
13%
-
.
59 7/a
59%
■
;y..60%
81.
87%';
*87""
8
8
=
81
27%
88.
81%
V
1'4%
28
■81%
28%
.14%
28%'
28
81%
81%
8i%
14%
...
14 Va
>
14%:
Va '•;•' 28%
•
87-
:.
87
*86%
87""
14%
1
v: 28Va
86 Va
.
V.
•■'./
v
8%
8
8
8Va
8%
8%
8%
9%
9%
9 Va
9Va
9%
9%
9%
9 Va
9% ;
8
86%
'
f 14 Va
84%
100
9,900
,
[
J
e>
86V2
8 Va
25,600 l
-^
%
14%
*14%
14%
26
*25
26
*99
102
*99
.
14%
*25
102
*99
14%
26
102
14%
15
14%
26
26
15
15
*25 V*
26
*99
1.02
102
*99
"15%
preferred—i_10
prior preferred
——100
150'
6%
conv
Natomas
——-——No par
Oo
:•
102
'
*57%
59
'
'
*57%
59
*57% ...59..JV ,.,...* 57 »A
^108.
*109%
*27%
28%
17%
177/a
*108
*27%
'
For footnotes
28%
'
'
.59
*108
*5-7 V4
59.,/
.
59
*57%
:
/
*108
*108
27%
27%
28
28
28
28%
28%
18
19%
19
19%
19%
19%
19%
!
28%
'
1,300 ;
'
18
see
18
page 2099.
20%
18,600
———No. par
—1
4%% conv serial preferred—i.100
Newberry Co (J J)
—No par
5% preferred series A
itOO
Newmont Mining Corp..
10
Newport Industries
1
Nehi Corp
.
Dec
19%
Apr
Jan
11% July
12% July
9%' Jan
4
20% May 18
Mar
1
Feb
,18
8% Jan
26
*
Apr
11% Feb
Jan
1.
20
Feb
—
Neisner Bros Inc
3
May 17
July
Sep
21.%
5%
:
Nov
Jan
10 %■
Sep
18%
Jan
29%
Dec
10% Nov
13 %
Jun
8
9%
Jan
Aug
14% May
,-21% Mar 28
16 % Mar 23
14%
Jan
21% July
6%
Jan
.16
13
3
Apr
y
5
12
Mar 15
30% Feb
1
23
176
16%
13
29% Feb
13% July
Jan
Jan
162
3,
17% Apr
11
3
35.
Mar 13.
26 * Jan
25,
31
May
11% Jan
15%
21
18
13 % Jan .29
8% .Feb
8Va Jan
18
Apr
3
19% Jan
5%
17
22
17.
xll'A Feb
r
=
Mar 21
175
.12% Jan. 17
9
10% May 19
>95
Apr 17
„22% Mar 27
174
Apr 10
147% May
2
21% Mar ,8
<31% Feb
.,
7
62
25
Mar 13
Apr
12
9 % Mar
x25%
17%
6
Jan
Jan
15%
Sep
12
Dec
'36
Dec
29%
Sep
Jan
11%
Jun
70%
Jan
90%
Nov
20%
Dec
14
Jan
160
Jan
178% July
137
Jan
150
Jun
14%
Jan
22
May
27
Nov
36
2% Jan
Jan
5%
7%
Jun
Jan
52
64 Va
July
Jan
14% Jan
15% May
28% Jun
79% Feb
4
87
Mar 23
57
Jan
83 V2 Jan
•'
6
92
Mar
9
62
5 Va Jan
National' Tea Co.t————No, par
1,600
200
13
10
10% Mar 22
12
15 Va Mar
.;'
..
Mar
13% Jan
4
8% May .4
3
9'
3
Jan
4
96% Jan
12
22:
56
105:
16
30 % Mar 16
-
5%%: prior
2,000 1
26%
26%
*99
16% Mar 21
8
165
*
14
*25
3
31
9
Feb
5
1
y: 87% Jam 11
$4.50 conv preferred——Nonpar
19'
Jan
7
National' Lead Co./.———f
-10
164
Feb; 25
1% preferred; A.l—J—~—,—-100
6% preferred B—
!
..100 . 1/141* Jan. 18
17% Apr 19
Nat Mall & SVl Cast CO
No . pat
28% Apr
5
National Oil Products' Co————4.
; •
5% Feb; 7
National Power & Lt_i
2—No: pat
5
■:
57% Feb
National Steel Corp..
1
25
11% Feb, 4
National Supply (The) Pa.
-.10
25% Feb
8;:
$2 conv preferred.^
J
—40
4,500'
•
Apr
•Jan
9
Products——i.No pari
450 J
•:
Jun
40%
10% Jan
i-10
Stamoing:——No par
Feb
15%
Jan
,
•
1,800
,
8%
.9 %
,
1,500',
^
1
"
.
1,100 V
"28%,
9 V4
> '
-
*6 V4
•'.60%
"
y 82% iy i:83%
1
*86-
'
■
.
•
100
k
;
^O'y
:a6%
230 1
50
—
1%
Jan
5
23 %
% Jan
24
National Gypsum Co—__
;
7,400
..
117%,
*29 :>
i
V'6%
•
i
"
Nat' Enani &
-
200
20,600
preferred
Nat Distillers
19,400
,
v
:'
••
I8V2 v18%
60%,",
6 Va
'"
,
173
'
5%
Va:>
21% ;
.:
=
146%:
""
/
,
21
90
1,200
y
No par
Jan
28
13% Jan
Cash' Register—
6%
*:•
30 Va y
10% :/ '■
•
*171%
;f.-
*147%' 150
18%
*29
•
A"
'•
i.
:
,
>'
34%
"
*291%
"101/4
'
•V"i' "/.• 89 Va
211/4'":,'
■
171%
150
34
'
'
18
*15% "15%
10 Va *
9%
90% "91
172%'
1,100
13,100 5
*11% -12
34'/a
30
.
•
5
-
Bond & Share Corp
National Container—
y 9,400 1
'
conv
10
——No par
2—1
National Cylinder Gas Co-.
2—It
Nat Dairy Products—
No par
National Dept Stores.:
—No par
Nat
.
20%
20%
y;
33%
"
2,900
"
6%
National Can Corp
16,400
29 Va J
15%. .'15%
11% :11%
20%
f
33%
x90 %
=:
11%
30V4
if
*147
12
33%
•,
20%
*11%
*29%
30%
-■'172%
*15%
:
> :io /-
33%
10
92
150
:-i
5%
81%;.;
9%
*
;
'
'
f
15% V
11%
X20%
16
15%
16
*
81%
■
19% '
",v 28%
28%
15%
*11%
V.
16%,.
■
12
15%
10
20%
59%
•;
27%
33%
93 %"
.29%"
■
60 %
12%
*29%
10'/a
*147
y
•
12
*171Va* 172%"
30%
5%
15%
33%
20%
*
.181/4
60
*15%
*11%
30%
9% •
*92
172 v4;
*29%
;
•
93 V2 ""
*146 % ,149%
15
12
1
11%;
21
20%
20%
33
'*
32
9%
2C%
30%
32% 7,
32%
*30%
20% V
.
f 15%
'
11%
Nat
800
,
10,100 ■.?■•:
■
,
preferred
National 'Aviation Corp—
National Biscuit Co__
1% preferred—
"
28%
20%
- 174
*18%
Co_
Acme
100 f;
20% '
*170
I
200
10%. i;
20%
172 Va
19
*18%
900 '
1,100
10%
11
National
1,700 V
11% /
11%
20%
174
*170
19
*18%
"
11%
,9%
.9%
,
'
15
15 W
i
-
9%
9%
11
174
*170
15%
*11
20%
20%
20%
15 Va
9%
11%
-
.
% Nov
13% Mar 13
Mar 22
6%
37
fy' Mar 30
HV2 Apr
1
10
+5
10
-100
Chatt &
Nashville
250 '
-
-No par
—-5
Co
Nabco Liquidating
%
12%"",
'
lOVaJan
14
9
Jan
25 Va
Oct
74%
Jan
98%
Nov
37
Jan
57%
21
61
Apr
3
Jan
22
24
Jan
16
Feb
110
16% Apr
Jun
6
7% May
10 % Apr
27% Mar 22
4
27% Mar 31
Jun
88
Jan
17 % Mar 16
100
Mar 17
Jan
80%
Jan
2%
Va
Jan
106% Mar
8
26%
Jan
20% May 19
10%
Jan
30% Jan
.
19% July
114
37%
19%
Sep
Aug
Apr
Oct
THE COMMERCIAL & FINANCIAL CHRONICLE
2096
Saturday
May 15
«
share
$
per
share
May 18
14
13%
103
*101%
*36%'
38%
37%
17%
17%
17%
17%
17%
17%
13%
102%
i
38%
:
18 Va
18%
18%
25
24%
24%
75
74
74%
25%
25%
25%
1,100
14%
13%
23
23%
23%
23%
24
24%
25
73%
75
25%
25%
14%
14%
14%
700
34%
100
1,500
'.•
200
*22 %
37%.
17%
:
71%
71%
71%
72
71'A
72%
25%
25%
25%
25%
*25%
25%
14%
14%
14%
*14
14%
*14
14%
34%
*33
34%
*33
34%
*14
*33
35%
*33
*160
'
33
.33
*33
*160
*162
*160
*160
•
37%
180
165
400
New
par
6%
-
.No
Dock
64%
'
65
65
*%
A
ft
15%
15%
*
32
15%
37%
195
*117%
37 Va
195'A
195%
*117%
119
*52%
8 Va
8
14%
113%/-,
113%
*35%
37%
194%
192%
118%
*117%
118%
17 % *
/v.
V
17%
17%
53%
*53%
53%
*53
53%
53
53
*53
53 %
*53
53%
8%
7.7'V 8
8
8%
8
8 Va
: ■;
15%
.1
15%
*112%
113%
16
16
113
113%
*101%
—
113
113
''*»«»
113%
19%
19%
19%
19%
19%
42%
*41'A
42%
42
42
-it
112%
112%
19%
19%
19%
*41%
42%
Jan
13
Mar 15
16%
Jan
32%
166
May 19
63%
Jan
17 132
Dec
28%
Jan
54
Dec
Northern States Pow $5
4
3
199% Feb
17
2
122
Feb
2
May
Jan
1 % Mar
Nov
26% May
38% Mar 13
23
38
Jan
Jan
192% July
Jan
122
42%
*4%
5%
42%
*41'A
4%
Northwestern
10
'
10
18% Mar 15
9%
Jan
18% July
Jan
26
54% Feb
21
49%
Jan
56%
Jun
51% Jan
27
53% Mar 22
48%
Jan
56
Jun
Nov
14 %
Apr
1
8
50
ino
'
9% Feb
Apr 25
Jan
102
4
Apr
24
8
91 %
101
Jan
7%
13
Jan
'
100
-
xl3% Jan
112
17'A Mar 21
3
Jan
31
par
17% Jan
15
50
37% Feb
1
..No par
4'A Jan
pfd_2Vo par
.No
107
115% Apr
Telegraph
24
24% Mar 16
43
'
*4%
4%
*4%
5%
5'/a
5
4%
5
7
Norwalk Tire & Rubber
'600
5
45
*43
45
*12%
12%
*12%
12%
*43
45
*43
45
45
*43
13%
Xl3
V
45
40% Jan
50
Preferred
■
*43
*42
■7
Jan
Apr
45% Feb
15'/a
28
8
16
Jan
23% July
Jan
7 41% Aug
27
8
12
116 Va July
36
17
5% Mar 13 77; x3%
37
No
18%
18%
18%
18%
19
18%
18%
9,300
50
50%
50%
50%
51
51
51%
1,200
Oliver
2,200
Omnibus Corp
8%
8%
8%
101%
100%
*11%
12%
*11%
8%
87/a
101
100'A
*11%
12%
9
9
9
100%
100%
101%
12%
12%
12V4
19
19
19
150
*147
150
*147 '
148%
18%
18 Va
18%
19
19
Ohio Oil Co
18%
*147
150
*32
33
*32%
33
*32%
33
*32%
*64%
66
*65
69
*65
69
*65
.
19%
69
8%
19%
19%
*65
59%
59%
59
59
59%
59%
59%
59%
12%
*12%
12%
12%
13
13
13
13
13
V.
11
*10%
11%
11%
11%
11%
11%
11%
•
240
41%
*41
42
42
42
42
43%
*42%
44
v
110
21%
21%
22%
21%
22%
22%
58%
58%
58%
59
123/4
12%
12%
*11
11%
*107/8
*40
42
41
*21%
22
21%
22%
77 2,300
par
17% Feb
par
45
31
6
July
45
Apr
Jan ( /
Jan
20% Mar 22
Feb
14
105% Jan
10
18
18
147
Co
Glass
64
19
Jan
8
55% Feb
12.50
Co—
Apr
69
153
15%
29
24
Jan
Dec
Dec
10%
21%
Jan
Jun
Jun
Jan
154
Sep
28%
Jan
38
Apr
46
Jan
67%
54%
Jan
11
65
7
10%
105
Jan
142
Mar 30
37 Va Jan
Jan
3%
13% May 5
20% Mar 17
7 May 10
31% Apr 26
—5
—
Owens-Illinois
50% July
Jan
8% Jan
100
preferred
21% July
Jan
3%
5
No par
6%
Jan
29%
10% Feb
Otis Elevator
Outboard Marine & Mfg—
11%
52% Mar 16
8
18
100
Oct
Jan
Jan
Feb
No par
14%
8%
•»
8% Apr
6
(The)
preferred A
conv
Outlet
69
*65
„No
Equipment
Oppenheira Collins
50
100
32%
32%
69
3,100
•
150
*147
33%
300
12
Farm
8%
220
101%
12
147
*32%
"
101%
19%
147
33
9
12% May
2.50
Norwich Pharmacal Co
50
*100%
12%
*11%
1,500
V.
18%
9
*147
14
50%
100
*8%
13
18%
50
100
12%
*48 Va
18%
18%
*48%
12%
12%
Dec
18% May
"
12%
Nov
15% Jan
'
*41%
July
162%
113
-
50
Airlines
Northwest
A
12%
j
19% Mar 11
'
Ry Co
Northern Pacific Ry
100
10
Dec
52
10
Northern Central
1,600
% Jan
.
Dec
50
American Aviation—
North
10
33% Jan
100
pfd....
non-cum
68% Apr
118
——5
preferred series
5%% preferred series
73,100
•
6%
39
183% Jan
__
Ry
6%
—
17
16%
Western
&
Adjust 4%
■
*101%
17%
16%
17
'
'
*41%
19
19
*101%
*101%
•
■
Mar 15
22
% May 12
14% Jan
3
1
North American Co
4,500
8'/a
Jan
15
30% Jan
100
SLtpbldg Corp part stk
May
14%
27
3
200
8
26
3
11% Jan
Jan
200
17%
*53%
28% Mar 14
;
24% Jan
."
52
Noblitt-Sparks Industries
10,100
53%
17%
53%
74% July
100
.
17 %
26% July
Jan
19
Harlem RR Co
Norfolk
630
193%
118%
Jan
tN Y Ontario & Western
200
36%
194%
'*117%
53%
8
113
19
19
*37
37%
194%
11
31%
Jan
Y
May
28% Mar 22
129
N
3,700
May
78% Mar 23
N Y Lack & West Ry Co
800
32
15%
14%
17%
14%
15
*117%
118%
15
53%
*103%
*101%
193
3*2
%
32
14%
20
4
Jan
—50
N Y &
1,800
53%
8
V
*35%
36%
*
%
15%
.7/7
68%
64%
65%
53%
*53
53
h
64%
17%
17%
*53
53%
53
*117%
65%
15
195
194
119
17%
17%
17%
*
%
15%
36%
37%
195%
*36%
65
65%
15%
TST
15%
65
Jan
3
par
'
64'A
10%
102
19% Jan
..No par
$5 non-cum preferred
140
44% May
2
62
_No par
Omnibus Corp
York
Jan
40
100
preferred series A
N Y City
New
Dec
Nov
27%
15% Feb
„
100
N Y Chic & St. Louis Co
i,2oo
166
.No
Central
York
Jan
21% Mar
12
94%
Mar 13
"20% Mar 22
5
35% Apr 25
15% Jan
3
;
$ per share
$ per share
102% May 19
3
971
.No par
New York Air Brake
.
34,100
;- v
13% Jan
.No par
preferred
$5 conv
'
•
$ per share
$ per share
\;
Highest
Lowest
Lowest
"•
.
Newport News Ship & Dry Dock—1
4,800
25%
18
17%
13%
37%
13%
102'A
37%
106
7
Year 1948
Range since January 1
Highest
*
EXCHANGE
Par
74
13%
*101%
38%
38%
STOCK
YORK
NEW
Shares
share
25
13%
102%
*36%
13%
102%
*36%
per
102%
13%
102%
13%
*101%
13%
*101%
$
for
the Week
May 19
$ per share
$ per share
Sales
Friday
Thursday
May 17
May 16
«•
share
per
Wednesday
T* esday
Monday
May 13
5 per
Monday, May 22, 1944
.7
59% May 16
64
7
Oct
July
P
7
21%
*15
*15
*15
*15
*15
*11%
990
22%
*15
16%
1,100
16'/a
1
Coast
Pacific
Co
preferred non-cum.—No par
2nd preferred non-cum—-No par
Pacific Finance Corp (Cal)
10
32%
32%
32%
32%
32%
32%
33
32%
33
32%
32%
*42%
43%
*42%
43%
*42%
43%
*42%
43
*42%
43
43
43
38%
38%
38%
118%
*117%
118%
156%
156%
156%
4%
38%
39%
*38%
4%
4%
*
118
118
118
*155'/2
156%
*155%
4%
4%
4%
14%
*14%
*9%
*9%
110%
110%
24%
*49%
89
•v
'
2%
Pacific
Pacific
4%
14%
14%
14%
14%
4
*9%
3
49%
88%
90
88%
90%
90'%
92V4
1%
1%
1%
1%
27%
27%
27%
*18%
18%
19%
19%
19%
3
3,500
600
25%
25%
91%
89% 1 92
1%
1%
27%
*18%
12,800
Petrol
East
19
Cos
Paraffine
■:
Tllford
&
Park
Utah
Parke
900
19
5.60%
pfd-100
1
No
Inc
Pictures
Paramount
Park
5
Transp
L
1
Inc
Mines—1
Consolidated
No par
Davis & Co
13%
Jan
55
23% Feb
25
14%
Jan
25% May
30
Jan
Jan
Mar
16%
Jan
33% Mar 28
23%
Jan
31%
Dec
3
43'/a Apr
5
40% May 10
33
Jan
45% July
19
Jan
91%
Jan
119%
Sep
Dec
160
Oct
15% May
10
'
121% Jan
12
Jan 11
157
Feb
26
5% Feb
21
3 V
15
Feb 29
Jan
Jan
8
Jan
3
Jan
16%
16%
"
14%
13%
;
*2%
2%
7
38%
38 %
6%
6%
16%
16%
*53
54
54
99%
99
99%
7'
14
*13%
14
13%
14%
13%
13%
*13%
14%
14
14
2%
*110%
29%
29%
29%
2%
"
*2%.
39%
*38%
*17
17%
*17
,
110 %
29 J/4
24
'
2%
7
24
*23%
'
58
57%
2%
39
39
17%
*110%
29
V
-
__
58
24%
*24
6%
16%
99%
*38%
18
*17
6%
16%
13%
99%
13%
*
6%
16%
53%
*99
99%
14
6%
16%
100
53%
54
*52
6%
16%
I
*17
55
*53 %
•
55
*53%
57
v
47%
•••:
2,700
14
13%
14
«
2,600
14
2%
99%
14
•
99
14
14%
14%
2%
39
.*39
*17
17%
„
2%
*38%
39%
*25
..
:
24
29
*23%
29 %
8%
■'
*23%
24
-
24
*57%
24
*8%
*41%
8%
8%
43
8%
58
7%
7%
48%
13
13
65%
65%
67
66
66%
42
44
44
43
25%
25%
25%
25 %
12%
i
65
66%
•
44%
44%
44% f
25%
*25%
8%
8%
*8%
8%
*8%
.8%
8%
*8%
8%
8%
8%
*8%
*44%
45
45
46
44%
45%
2,300
21
20%
21
20%
21
20%
21%
9,800
50%
5:1
97%
97%
51%
51%
51
51%
51
51%
550
*97%
97%
97%
97%
97%
97%
110
19%
19%
19%
19%
19
19 %
19%
19%
19 %
19%
23%
24%
24%
24V4
24%
24'/a
24
24%
24%
24%
86%
*1C9
*11.2%
*12%
105
29
86%
86 %
119%
*116%
29%
29 %
29%
29%
29%
86%
87
87
87%
88
86%
109
109
*109
110
114
*112%
113
*109
113
111
*112%
111
114
*112%
14
*12%
13%
12%
*105
110
*105
105
*116%
120
*116%
29%
120
*110
%
12%
110
*12%
*105
109
*112%
19%
*23%
10% Mar 17
Jan
112% May 1
3% Mar 25
105%
Jan
2
Jan
7,500
3,000
$1
120
29%
87%
;
Philco
1,100
Philip Morris & Co Ltd
Preferred 4 % % series—
109
109
109%
100
113
112%
112%
60
14
13
13
13
13
300
108
*105
108
*105
108
43%
44%
43%
43%
43%
44
43%
44%
43%
44%
7,000
*10 '/a
10%
10%
11%
11%
11%
11%
11%
11%
11%
900
*24%
24%
*102
135
*102
135
*102
135
24%
*102
25
25
25
135
*102
135
*24%
*102
v
*5%
*64%
5%
*5%
5%
64%
64 %
64%
5%
65
5%
66%
*5%
*66
5%
66%
*5%
65
5%
*7%
7%
*7 %
7%
*7%
7%
*7'%
7%
7%
7%
78%
78%
*76%
78%
78%
78%
77%
77%
X76 %
76%
*12%
*169
175
*6%
*85
47%
*59%
*13%
*185%
89
*84
90
13
*169
5
6%
*84
6%
89
47%
47%
47%
59%
58%
58%
13%
13%
14
*170%
11%
71
•69
6%
*84
47
♦58%
14
13%
5%
47%
7
47%
14%
14
,
47%
60
14
11%
11%
11%
11%
*11%
11%
69
69
69%
70
*69%
71%
17%
22
17%
*21%
17%
17 V*
17%
22
22
22
17%
*21%
9%
47%
*58%
14
*11
69%
13%
1,500
V
7%
2,400
88
48%
1,150
14%
1,700
300
12
69%
17%
17%
22
22
70
6,200'
9%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
11%
3,600
11%
*11%
12%
*11%
12%
100
38
*36%
37%
*36%
38
52%
53 V*
52%
12%
*11%
12%
*36%
38
*36 %
38
*118
13%
95
102%
,
I
118%
*118
14
95%
53%
53
14
,
102%
119
14%
95
53
*118
14%
53%
119
14%
96
102%
95%
95%
103
101%
102%
11%
*36%
52%
118
14%
95
53%
14%
14%
96%.
102%
96
102%
10
118
14%
13,500
96%
1,520
102%
#550
108
108%
108%
108%
290
118
118
1^.8
118
V4
*uU
107
107%
107%
108
108%
108
108
116%
117%
117%
117%
118
118
page
*117%
14%
102
117%
see
95%
96
119%
4,600
102%
117
footnotes
14%
~
53%
102%
107
For
*118
118
'
ser
conv
pr
pfd
Pittsburgh & West Va
Pitts Young & Ash Ry 7%
Pittston Co. (The)
.
Class. B
preferred
Plymouth Oil Co_——
Pocahontas
Pressed Steel Car Co Inc
16
Jan
Dec
Apr
May
3
1%
Jan
19% May
6 Va May
20% Feb
7
15
16%
Nov
29
Jan
24
Mar 28
7% Mar
58
100
May 5
7
16% Mar 13
187
15% Apr 15
3
2% Jan 24
10
41 1
Jan 15
9
18% Jan 26
17
Jan 10
112
17*
Mar 21
30
3
24% Mar 22
15 *
Mar
9
63
4>8% Apr 14
6
53% Mar 16
24'
15% Mar 21
3
V 69 ' Mar 24
4
51%
Jan
13
Nov
3%
100%
Sep
20% July
Jan
1%
9%
Oct
3% Mar
Jan
33%
May
60% Mar
Dec
80
Jan
45
Jun
-
17% Mar
13%
Jan
108%
Jun
23 Va
Jan
17%
Feb
46%
Jan
1%
Feb
28 Va
Jan
5 Va
Jan
59% July
16 Va May
34%
Feb
58% May
Jan
41% May
19:
46% Mar 24
8
26% Jan
23
113
Dec
32%
Apr
24%
-
Sep
61% July
7% Sep
Feb
26% May
12
6%
Jan
10% July
9% Mar 13
5%
Jan
9% Jan
3
26
14
3
5
49% Jan
20
Apr
May 16
3
May 13
Apr 26
Jan
3,
Feb 25
25% Feb
16
Jan
Jan
68 Va
24
21% Jan
Nov
37
52% Mar 17
98
8%
Jun
17
22% Mar 16
Jan
29% Mar
x51%
Sep
91%
Sep
22
Dec
25%
Sep
28
118
31
Apr
13%
Mar 15
88
*
"18% Aug
24% Oct
10
!
71
26%
Jan
Feb
90%
Jun
Jun
113
108
Apr
11
114% Jan
17
109%
Jan
117% Jun
11 % Feb 14
x98
Jan 19
43
Apr 19
_100
47
*
-
Feb
14
July
79%
Jan
100
July
5
42%
Nov
50
3%
Jan
> 10%
Dec
18%
Jan
26
May
Jan
102
Jan
5
25% Feb
7
Feb
21
75
Feb
21
27
13
18
25
4
25
3
Jan
3
Apr 25
Jan
3
Apr 27
11% Jan
3
6
8% Mar 24
80
May
5
186
May 12
5% Mar 24
Dec
5
Jan
9
Mar
Jan
77%
Jun
Feb
15% May
168%
Nov
168% Nov
170
Jan
182
4
Mar
Jan
68%
Jan
59
9%
171
Apr
7% May
3% Feb
34%
Aug
4
Jan
9% Jan
10
4%
Jan
10 % May
Jan
10
59%
Jan
90
61% Jan
■
10
24
Jan
Jan
10
56
99
-64
17% Mar 21
7%
150 Va
8% Jan 25
69
[
14% Mar 13
—
——100
7%
102
Jan
Jan
Apr
Feb
Jan
Jan
Apr
57% May
1
.
3
—
5
61
7%
68%
11%
164 %
183
4%
6%
82%
46%
July
Apr 11
May
11% May 19
9
Apr
4
23% Feb 23
100
pfd—100
5
14
105
14% Mar 22
May 16
79
Feb
15
Jan
5
Dec
Jan
Jan
6%
Jun
July
52% May
.
75
Mar
16% Mar
168
Nov
Jan
10%
20
Jan
74%
Dec
14%
Jan
: 21%
July
Apr
1%
Dec
No par
—1
>
17% May 16
ly% Jan 15
8% Apr 25
"
No par
19
22 % May
12
18
Jan
23%
11 % Mar 16
4
Jan
13
11% *nr 25
11% May 17
]•>!<, *jror 16
6%
Jan
13% May
13% Mar 16
6%
Jan
13
Jun
40%
Jun
?
•
52%
116
.13%
87 %
96
•n
lo
May 19
Mar 25
Jan
3
Jan 3
Jan
3
104% Jan 4
113% Jan 3
Jun
24%
Jan
58
Jan
15
48 Va
Jan
58
120
Jan
12
114%
Apr
123
15
Feb
25
11%
Jan
17%
Apr
967/a Apr
19
75 Va
Jan
96%
Oct
4*
Mar 16
Sep
Feb
105
Apr
4
85Va
Jan
107% July
110
Apr
13
96%
Jan
114% July
119% Apr
10
108 Va
Nov
129% July
2099.
2%
32
Nov
5
5 % conv 2d preferred
50
Procter & Gamble——
No-par
5% pfd (ser of Feb 1 '29)—100
Pub Serv Corp of N JNo par
$5 preferred
——
No par
6% preferred
100
7% preferred
100
8% preferred
-100
5% conv 1st preferred.:
Jan
104%
No par
100
100..
Poor & Co class B
9%
*11%
1st
Pond Creek
9%
53%
5%%
72%
Jan
5
No par
Pittsburgh Steel Co
7% preferred class B
5% preferred class A
600
9%
37%
-
300
9%
Chic Ry
preferred.
Jan
109% Jan
No par
No par
1
10Q
100
Pitts Screw & Bolt
10
60
9%
53%
-
$5 conv
7%
1,700
*9%
*36%
preferred
preferred
Pittsburgh Forglngs Co
9%
*11%
6%
Pitts Coke & Iron Corp
9%
12
>
..
July
Mar 28
100
100
100
Pittsburgh Coal of Pa
~7-
17%
*9%
Pillsbury Flour Mills
Pitts Ft Wayne &
22
9%
Hosiery
400
*168%
*168%
II %
17%
7
Phillips Petroleum
Pncenix
Feb
Jan
Jan
.
July
30
1%
3
106
17%
28
:Jan
Dec
Jan
Jan
27%
8
1% Jan
45%
Jan
15%
25
27% Mar 16
95 % May
Oct
July
106
No par
100
No par
5
25
preferred
100
5
5
*84
400
175
7%
7
88
*59
60
13%
7%
Apr
100
4
100
series—
Phillips Jones Corp
1,200
7%
77
*185%
"5%
*84
6%
88
7%
*76
4%%
19
23%
117
24%
7 82
Jan
Jan
11%
113% July
100
Pitts C C & St Louis Ry Co
5%
65
*169
175
*185%
"5
*170%
*170%
22
17%
22
14
5
13%
*169
71
11%
-
13%
13%
175
*185%
"5
47%
60
*69%
13
175
*57%
47%
*11
17%
6%
6%
6%
*12%
*169
*185%
"5%
*5
5
*170%
*21%
<
175
♦169
*185%
5
13
*12%
13
800
135
5%
65
66
25 %
Corp
Preferred
10
11
25
100
—3
—10
—
7,754
44
25
No par
87%
43%
25
preferrca
>
No par
com
preference com
4.4%
30
*86%
*10%
24%
Phila Electric Co.
7%
40%
20%
49 %
88%
35%
51 % May 19
106
5
23% Mar 6
7% Feb 29
No par
Pfizer
1
Phelps-Dodge
Corp
i
25
Philadelphia Co 6% preferred
50
$6
preferred
No par
5
Apr
43% July
Jan
33% Jan
5
Brewing Co
(Chas) & Co Inc
9%
*116%
54%
No par
Pet Milk Co
24%
29%
120
55
5%
46
77 10%
100
preferred
5%
110%
25%
21%
Pfeiffer
44
97%
Co
Marquette Ry Co
prior preferred
400
20%
51%
'5 %
Petroleum Corp of America
44
97 %
Pere
500
21 %
50%
Pepsi-Cola
: 1,300
43%
97'/a
29
100
50
5
100
100
1
—-100
100
preferred
800
8%
50%
120
Glass Sand Corp
Penn
par
Jan
Jan
Feb
Mar
Mar
Jan
Jan
Jan
Jan
Apr
Jan
Jan
17% July
Jan
20
9'/a
2%
37%
16
Jan
7%
31
13 % Apr
9
2%
6
93% Feb
No par ,y
l.No par ~
.
Pennsylvania RR7
Peoples Drug Stores Inc
Peoples G L & Coke (Chic)
Peoria & Eastern Ry Co
1.500
43
*
No
Cement
$7 conv pref ser A
7
8%
20%
29%
800
a
par
6% May
23%
4% Jan
3
15% Apr 26
51% Apr 10
Co
r
26
8%
50%
*110
100
8,600
-
12%
*8%
20%
*97
200
600
49% i
49%
•V
:
7% 1:
*7
49 %
13
*7
16,500
57%
57%
7%
48%
20%
:...
57
48%
42
8%
57
13
*25
8%
8%
57%
7%
25%
(J C)
Penn-Dixie
5%
29%
"24
{
29%
29%
13
•
100
No
Ford—.
&
Jan
8
18% Feb
No par
Penn-Central Airlines Corp.
*—1
Penn Coal & Coke Corp
10
♦110%
*110%
29%
48%
65
Penick
Penney
28% May
3'/a
Mar 23
33% Mar
26% Apr 27
No par
10
Enterprises
-
29%
*6%
*12%
42%
25%
25%
*
v
900
Parmelee Transportation
Patino Mines &
200
v
17
17
17%
1,300
2% f
2%
39%
47%
-v V
64
*41
42%
*40%
13
64
64
*63
7%
47%
*12
12%
12
-
*6%
47%
7
*6%
47%
200
/.
99%
'
57
800
.1,600
99
~
*110%
55
6%
17
147
4% Mar 17
27
Apr 25
Feb 18 :
"
6%
16%
*5%
6%
*6
16%
10
3
Apr 27
Jan
Apr
July
10 "
1% Mar 27
t
2.50
Parker Rust Proof Co
Jan
23%
103
Jan 10
23% Jan 27
57% Jan 18
1
Inc
13% July
6'%
4
45
par
100
preferred
conv
1,300
9,000
■«R
&
P
Prod. & Ref
Panhandle
5
Airways Corp
Panhandle
3,600
1%
1%
27% v 28
19%
Pan American
4%
No par
Motor Car
Packard
—
26
27%
19%
150
51%
50%
*105 %
Western
Pan-Amer
9%
89%
1%
10
3,800
25%
28
Oil Corp
50,500
110
3
3
Pacific
4%
*109%
50
1
30%
*9%
9%
110
preferred
Jan
28
25%
117%
149
4%
12%
3%
28%
8%
109%
2%
par
Pacific Tin Consol'd Corp
7%
13
Apr
48% Jan
39% Jan
100
100
& Teleg
1,300
15
4%
6%
4,100
4%
30
*105%
25%
27%
,
2%
50
25%
1%
30%
110
25 %
27%
4%
30
4%
30
25
-No
Telep
10
>
No par
Mills
210
157
37
4%
25
18%
18%
4,500
118%
*156
4%
*105%
27%
27*%
37%
*118%
9%
1%
*1%
38%
13% Mar 23
3
41 > Apr 18
17% Jan
3
15% May 3
25
Electric
&
Gas
Pacific Lighting Corp
157
4%
109%
50
Pacific
118 V*
*156
*9%
'2%
300
37 %
157
109 %
50
2,900
118%
38%
119
24%
25
89
9%
*105%
*105%
*105%
4
29%
29%
110
*2%
49%
*49
49%
110
2%
2%
2%
*2%
*49
*9%
9%
110%
V
9%
110%
*14
4%
29%
29 %
29%
29%
*4%
14%
4
4
3%
4
3 '/b
29%
*14
14%
14
38%
118%
*156
*
I
3
8% Jan
10
;
1st
'
*32%
10% Jan
8
Pacific Amer Fisheries Inc
r
.
'■/
Volume
Number 4283
159
THE COMMERCIAL & FINANCIAL
CHRONICLE
2097
NEW YORK STOCK RECORD
LOW AND
Saturday
May 13
$ per
>■_
15%
>
15%
*111
105
22%
116%
16
43%
15%
V:
111%
104%
104%
22%
22%
22%
Va
13%
*13
13%
116%
17
43%
443/a
15%
*111
-
*116
117
Sales
$
22%
16%
i
per share
117
>
117
43%
443%
16 'A
133/a
13%
1113%
105
105
133/a
13%
-Pure OU
6%
;
(The)
par
115% Apr
37% Jan
No par
no
Year 1943
28
119% Feb
3
45
113% Feb
103
107
Jan
15
19% Jan
14
.10
12% Jan 21
113%
Mar 16
3
12
S per share
Nov
122
Aug
40'/8 July
19% July
114 Va July
107% July
22'/a Nov
26% Jan
11
Jan
18
104%
Feb
Highest
$ per share
Mar 22
15% Feb
109% Jan
par
No
15
18
par
103
conv preferred
Lowest
$ per share
100
—
Quaker State Oil Ref Corp.
200
$ per share
No par
preferred
5%
Range for Previous
Range since January 1
Highest
Lowest
Purity Bakeries Corp
2,400
13'/a
,V
,
Pub Ser El & Gas pfd $5
Pullman Xnc
1,200
233/a
22%
STOCK
>
:
.
200
223/4
*13
•'
12,000
*111%
105
223%
NEW YORK
EXCHANGE
20,500
>16%
111
105
>
240
16%
16
223/4
Shares
443/a
111
105
>
*22%
13%
44
for
the Week
May 19
per share
111%
,
V 105
105;
*13
$
Friday
'
16
*111
111%
STOCKS
Thursday
May 18
$ per share
116%
427/s
104%
-
22
*13
157/b
*111
112
105;
$ per share
42%
PRICES
Wednesday
May 17
May 16
116
41%
42
SALE
Tuesday
,
share
116
116%
v
41%
<.
May 15
$ per share
*116
Monday
,
HIGH
Feb
9
92 V8
13%
Jan
14% Feb
11
10%. Jan
10% Jan
12
,
Jan
23% May 19
15
July
R
8%
8%
70%
70%
8%
91
8%
8%
8%
,
8%
70%
■.
93
29%
14%
301/4
14%
14%
30%
*30%
9%
70%
703/4
8%
29%
14%
30%
*29
r
8%
71
9%
83/4
92%
>
*28%
\
9
71
-
8%
.: >92%
91%
„
87/a
70%
,
94%
90 3/s
293/a
293/8
14
14%
29%
14%
14%
30%
■<
30%
17
i-
83/4
293/4
30
30
14%
14%
30 J/4
367/a
*36%
17%
17%
37
*36%
37
29%
29%
36%
29%
30
26%
*29 J/4
293,4
30
8%
*8 'v
*7.%
,
*14%
19
*18%
15%
63
16%
16
*7%
12%
89%
90%
153/a
*18%
19
18%
18'%
16%
16
16
:
94
*92%
94%
1,300
92
92%
93 %
870
9%
9%
16%
95'%
7%
*91
72*.
;
9%
.
73/4
16%
16%
*101%
95%
7%
953/4
7%
92
72
72
600
73%
*91
'■>
..
80'
72%
12 Va
12%
12%
12%
12%
12 J/4
90%
12%
90%
12%
12%
903/a
90
90%
90
90%
320
"10%
10%
10%
11%
10%
10%
10%
10%
29%
10%
29%
29%
29%
10%
29%
29%
10%
10%
295/b
29 J/4
293/4
29%
293/4
*353%
37'%
*35%
37%
*35%
14
*14%
*35 s/8
37%
14%
*14'%
14%
9'A
9V4
9%
9%
9%
9%
14%
*14%
14%
9%
9%
*14'%
14%
*14J%
143/4
14%
14%
*5%
29
6
-
•
*5%
6
6
6
27%
*6
193/4
1,600
Ruberoid
19'/a
3,200
49%
27%
>'
>
•.
1%
28
;
50
27%
*483/8
28%
%
*3/8
Va
1%
1%
■
48%
48%
48%
28%
*112%
113%
112%
112%
7%
50%
107%
*40
50%
40
V
112
*40
,
110
*109
28%
3/8
273/4
3/8
3/a
1,200
l3/a
U
1%
48%
6,900
48'/a
48%
110
52%
513/4
*107%
*40
40%
*110'%
110
24%
243/4
25
25
2%
27/a
*2%
3
500
60
100
*109
110
25% / 25%
90%
89%
89%
89
89%
89
89%
89
17%
17%
17%
173/a
17%
173%
17%
173/4
*13%
13%
12% >12%
*74%,
11
♦52
12%
75%
*74%
11%
11%
,
>
54
*52
27
27. J,
27 %
>27%
3%
.» 3%
26%
26%
257%
26%
25
25
25
12%
12%
12%
39%
*38%
•
*38%
14
*13%
*21%.
*22%
*22%
12%
'
•;
12%
3%
33%
*150
23
3%
273/4
27%
21 Va
27 %
*24%
253/4
25
25
13%
13%
13%
13%
133/4
39%
40%
39%
40
1,500
1,500
Sloss-Sheffield
27
39
40
13%
13%
13%
13%
13%
13 5/s
14
22%
*21%
22%
*21%
22%
22%
22 3%
100
*32%
33%
33%
33%
*323/4
33%
400
23
23
23
23
300
12%
12%
12%
12%
12%
22,400
3%
3 'A
X32%
33/a
33/a
33%
3'/a
33'A
3,400
37%
11,400
23
12%
*22%
12%
12%
3%
j^iv- *3%
150
33%
343/4
*148
152
152
23
23
23
23%
2 100
14%
*14
14%
14%
143/a
143/4
900
28%
28%
29%
29%
303/8
50,000
23 s/8
24%
233/4
24'/a
10,000
51%
51%
51
51'A
3,000
59
60
60
60
4%
4%
*5%
■;>
6%
59
4%
;;
43/4
*5%
6%
43%
,
.
*6
*59
65
*60
65
*60
*27%
28%
*28
28%
*28
227/a
233/a
28%
38%
38%
383/4
57%
*57%
57%
7
7
57
57
573/4
35
34%
*38
34%
7
67/a
*111
;
113%
*59
♦111%
112%
*111
*107%
108 %
108 7/a
108%
;
293/a
113
38%
60
*57%
7
35
113%
:
/
573/4
35%
*59
112%
113
7
57%
35
'»
60
*111%
29%
7
39
*57%
57%
57%
23%
39
39
57%
....
57%
*34
22%
22% >23%
*111
112%
113%
*1073/4
108 %
60
*112
108
293% ;
*112
293/a
113
7%
35%'
35%
35
35
113%
*111
•111
*59%
293/a
*112%
112%
112%
40
108
108
*1073/8
108 3%
50
293/a
29%
4,900
112%
112%
400
3/4
3/4
1,700
293/g
113 :
29%
113
%
%
3%
33/8
3%
44
433/a
433/a
*44%
51%
513%
513/4
513/4
363/4
36%
333/4
34
333/4
34
55
55
55%
55
55%
42%
42%
43
43
43
1,000
114%
*113%
115
115
100
7%
7%
7%
7%
7%
2,500
♦30%
30%
300
36%
36%
36%
37
34
333/4
34
33%
34
543/4
54%
42%
7%
♦31
66
•123/4
*9%
*16%
8
15%
*55
*124
5%
7%
31%
66
12%
10
17%
8
15%
56
7%
7%
73/4
*113%
7%
73/4
1.400
36%
36%
333/4
*113%
33/8
45'%
53
36%
42%
*3%
45
3378
115
3%
513/4
36%
543%
3/4
45
33%
423/4
3/4
52%
36%
36%
543/4
29%
113
3/4
42%
100
108
3%
54%
60
112
%
*42 3/4
113%
60
112
3%
*1133/4 114%
60
2,200
112%
%
51
20
990
3%
*43
2,800
60
11,300
%
51
5,700
39
7%
3%
44%
233%
38 3/4
»573/4
59%
%
*50%
300
23%
:
*1133/4
Mobile &
Ohio
11,900
8,700
13,800
Inc...
$4 preferred
prior preferred
prior preferred
Jan
303A
Jan
6
22% Apr 24
13% Jan 17
Sep
152
May 17
24% Jan
6
15% Mar 23
132
Jan
149% July
21'/a Jan
10% Jan
•23% Jan
3
32% Mar 22
Jan
3
28% Feb 26
4
12
35%
29
Apr
14% Sep
30% May
30% Apr
49 % May
42% Jan
18
25
153/4 Jan ;
1.40% Jan
20
7
4
% J an
3
6% Jan
5% Jan
26
6% Mar 16
14
59% Apr 26
313/4 Mar 14
153A
2%
2 3/a
Jan
Jan
66
Jan
55
par
6M1
Jan
6%
Jun
Sep
Jan
61
Nov
213/4 Jan
35
Dec
273/8 Jan
23% Nov
35% Mar
39% Mar 25
32% Jan
44'A July
56% Jan
60 % Apr
56
May
3
Jan
28
6
27
Jan
3
50% Feb
par
par
33
Apr
' May 5
22% May 13
36% Jan 26
No par
1
No par
Feb
11
33% Apr
110
Jan
20
28
59% May 12
.
111% Apr 19
: May 17
108
28% Feb
9/
35% Jan
38% Mar 13
Jan
1123/4 Mar 22
109
Jan
64% Feb
2
49
Jan
60
Sep
Sep
Sep
42
July
116Va July
8%
64
70
1143/4 Jan
10
112% Nov
117
July
Aug
112
28
107
110
Dec
Jan
31% Mar 21
27
115
15
1
3
5
33
% Apr
2% Jan
No par
No par
5
73A Mar 13
60% Apr
Jan
110
6
Mar
Jan
6
25
100%
Nov
Sep
Jan
10
4% Mar 22
31%
Dec
115% July
2% Mar
1% Jan
9
6% Mar
8'/4
5,000
16%
76
16%
1*3/4
16%
56
25,7^0
56
56
56
56
56
700
Rtudebaker Corp
Sun Oil Co
124
124
140
Class A pfd
&
Sunray Oil Corp
26
114
Feb
Jan
~5'A
Nov
9'/a May
Jan
31% Mar
15
6'/a Jan 13
9% Mar 22
No par
28% Jan 18
32% Mar 22
25
10
623/4 Feb
673/4 May 18
11% Jan
3
91/4 Feb
10
Apr 11
ll3/8 Mar 14
68% July
7% Jan
1
Webster
—20
15% Feb
1
17 % Mar 14
No
(The)
(4% %
Jan
3
preferred..
15%
111
cum)
1
14
7% Apr 19
13% Apr 19
16% Mar 13
55
par
—1
No par
100
29
60% Jan 21
121
u
May 12
Jan
27
5% Feb
15
9% Feb
125
May
38% July
60
Sep
45 Va May
37%
1
Slone
prior
15%
Dec
20%
Jan
No
Apr
37% May 19
54
Corp
Stnti-ely Bros & Co Inc
55
10,500
141
6 >
100
100
Starrett Co
153/8
6%
5
29 Va
52% Apr
62% Feb
Standard Steel Spring
55.
For footnotes see
page 2099.
28% Jan
7.50
preferred
153/4
6
15% July
Jan
Jan
4%%
56
6'/a
Jan
2'A Jan
Jan
5%
124
10%
16%
28 Va
1,500
6
6
Mar 14
46%
16%
124
Apr
15
16%
6
13% Mar 17
35
343/a Jan
16%
124
•
4
10 >
Nov
563/4 May 10
43% Apr 12
16%
6
15% Jan
14
-
No par
Stewart-Warner
124
27% Jan
39% July
25'A Jun
4
1,600
■i
233A
Jan
3
3
2,900
6
24'/a July
Aug
19
22
23% Jan
5
19
2,100
125
153/4 Nov
22 3/a
35% Mar 16
18% Jan
28
3% Jan
28
27'4 Nov
Xl3Va July
45% Sep
10% May
28 Va Jan
40 % Jan
10 %
6
Jan
133/4 May 19
V 423/8 Jan
7
51% Apr
13 3%
*124
Jan
Mar 13
263/4 Mar 14
8
Apr
May
32% Mar
67
6
16%
21
28
3
19
5
>■
25
10
124
Jan
25
133/a
5%
2%
Standard Oil of New Jersey
Standard Oil of Ohio
67
123%
Jun
Dec
10%
5%
Oct
29
Dec
133/a
8
57
Jan
40
673/4
8%
Jan
17%
Jan
95/8
153/a
31%
Apr
12
Jun
9
283/a
1J78
*55%
May 16
28% Jan
16% May
73% May
10%
28 % Apr 12
4
Jan~27
18
Apr 12Jan 27'7
Jan-
53A Jaa
11
67%
124%
54% May
Jaa
38'A Jan
93/a
8
4
Jan
8%
7
13%
8
113/4 Mar 16
54
64 3A
35% Feb
13
163/4
5
Standard Oil of Calif—.No par
Standard Oil of Indiana.
25
13
163/4
7%
5
38%
13
8
;
Jan
44%
12%
17
Apr
14% Mar 13;
75
Jan
(The) L S
Sterling Drug Inc
7%
73
Jan
30%
17
i
Sep
10%
30%
8
17% July
73% July
50'A Mar 22
30%
16%
Jan
9
58'A Mar 23
673/a
7%
18%
8
673/a
16%
903/g, Dec
10
30
93/a
Jan
Jan
16% Mar 16
3
Jan
Jun
59%
lO'/a
33% Feb
67
9%
Jan
4'A
Jan
5
19 V» Mar 20
2 f:
May
2
Jun
40% Feb
66
9%
Feb
Mar
26%
par
30
9%
115
112
Dec
16% Jan
No par
67
,
1093/4 Nov
105
No
31
9%
6
8
23
No par
100
No par
Feb
Jan
29% Feb
100
30%
12%
43
Jan
36% Apr 24
13% Apr 25
25
No
Dec
1073/4 July
112
22
par
—..No par
No par
*65%
♦30
Jan
Dec
110
10% Feb
1
$4.50 preferred
Standard Gas & El Co
$6
96
44%
3
23
2
$5 pref series A
$4.25 preferred
$7
Sep
12% Mar
Nov
193/4 Jan
36%
3'A Mar
114
10
24% Apr
-
No par
No par
5% conv preferred
Squibb (E R) & Sons
500
6 3/a
Jan1
16
3
20
Square D Co
5,900
105%
47'A July
'
preferred."
Brands,
Jan
Feb
48 % Jan
5
Spiegel Inc
Standard
16
13A Mar
■'
" Jan
24
1
preferred A
$4.50
xl08% Mar 23
63% Jam
No par
No
Sperry Corp (The).
Spicer Mfg Co
Conv
35
1
6
6
tr ctfs
Spencer Kellogg & Sons^.
conv
8% Feb
No par
stk
Sparks Withington
Spear & Co...
$3
4
54% Mar 31
9 % Ja n
Railway
non-cum preferred
$5.51 preferred
7%
3%
•42
7%
100
28%
59%
%
50
383/a
6'/a
65
28%
233/a
59
3,000
60
3%
44
*60
4%
58
58
35%
*59
60
*111%
7%
23%
43/4
6%
65
28 3/8
*57%
54%
.'
6%
65
*37%
43
43%
350
Jan
24
42% Feb
36% Mar
Jan
%
3
6
Southern
*58
as3
3
113% Jan
27
Edison
51%
*59
>'
113%
California
23%
57%
3
17
13
10
50%
57%
11
% Apr
91% Jan
Southeastern Greyhound Lines..„5
South Porto Rico Sugar
.No par
8% preferred
100
5%
27% Nov
>
5
No
223/4
58%
Aug
7
Smith & Corona Typewriter.No
par
Socony Vacuum Oil Co Inc
15
South Am Gold & Platinum—
1
Southern
50 V2
14
Iron
>"'27%
28%
28%
54%
&
51
*57
65
*42%
■:>
Jan
21% Jan
—15
Steel
23%
6%
113%
•
43
109
No par
28
*5%
50
30
Jun
108
No par
22%
6%
*42%
150
Oct
18%
2% Apr
48 3/4 May
37% Mar 16
No par
50%
*5%
113%
150
28
Jan
Jan
Jstn
$1.20 preferred
Smith (A O) Corp
Dec
Jan
11%
Feb
38% Feb
105
Jan
Jan
Corp..
27%
45/a
*111%
36%
154
23
22%
8
7
21%
20%
19
32% Jan
<
27
Slmonds Saw & Steel
23
*4%
29%
363/s
43% Jan
Dec
10
51% Apr 11
Mar 17
12
Simmons Co
50
27%
4%
29 %
353%
*150
,
700
32
Jan
23
13
110'A Jan
—15
50
59
60
36%
152
33
Jan
12
July
17% May
9% May
Jan
19 3A
Jun
39% July
14'A Oct
7'/a Jan
5%
Jun
32%
Sep
9
X30 % Feb
27% May 12
>
Nat pax
23
27 3/4
27%
113%
33%
343/4
23
5
45
% Jan
193/4 May 19
3
par
Sinclair
Oil
Jan
•' Feb
153A July
11% July
3
2% Jan
King Coalition Mlnes^.
70
933A
Jan
5%
20
Feb
Jan
10% Mar 18
26
25
72'
Southern Natural Gas Co
Southern Pacific Co
4%
*58%
*33
14%
1
*111%
*33%
33%
33%
"&Ks
14%
23
400
33%
14%
23
22%'
2,800
80,500
>17% Jan
3f® pas
Pen Co.,
DeQ
98
7% Jan
143/4 Apr
63/4 Jan
3
18
Ncr guar
Skelly Oil Co
39
14
*27%
2,200
Silver
253/4
;
Jan
5% Apr
84
Feb
.! 16% Feb
Shell Union Oil
12%
23
*59
Sheaffer (W A)
2,700
12%
22%
49%
*57%
3'A
25%
23
49%
27%
3%
26%
28
8% Feb 29
13
—No* pax
:
ser A
(Frank G)
10
'4 ,26%
*243/4
227/a
22%
27%
3%
Shattuck
pref
26%
14%
27%
;
27%
3%
.
conv
3%
23
*14
800
11 %
52%
*21%
333/4
150
153
11V*
52%
11%
53
*52
12%
7
25% May 19
3% Mar 16
$5 conw preferred.
$3.50
Dec
25
No par
Bharpe & Dohme,
3'%
;i>. ""22%
333/4
33%
30O
32%
3s/a
*33
5,500
273%
*13%
.•
12%
V?;. 3%
34
33%
350
135
15-
11'4
54
'
*33
67%,
12%
15
20% July
343/a Feb
3
No par
1
Sharon Steel Corp,
3%
39
23
12%
1,400
13
11%
■>
13%
76
15% Feb
May
Jan
May 12
3
*133/4
68
17
38% Jan 25
par
No par
Sears Roebuck & Cn
75
Apr
3
No par
Servel Inc
13'
95
20
Seagrave Corp
5,100
3,200
27%
123/4
32% *
23
■
300
893/4
*24%
23
*32
*52
2%
101%
3
Jan
36
13
No
Seaboard Oil Co of Del
11 Va
*74%
•'
13%
22%
11'%
54
23/4
10
2.500
Jan
Jan
Oct
28
100
89%
17%
13%
67%.
75
25%
14
95%
11% May 11
30% Mar 22
5
i
17%
>> 89%':
13%
13
743/4
25%
3
Apr
>4% Jan
4
No par
$4.50 preferred
$4 preferred
10%
18% Mar 16
Jun
Apr
5
5% % preferred
Scott Paper Co
25%
12 3/4
33
12%
75%
3
25
*21%
*13%
13%
68 %
11 Va
» 27%
39
*32%;
13%
67%
12%
:
*52
3%
*3%
13%
69
•67%
12%
12%
11
.
54
>
133/4
69
*74%
>
75%
11
133/4
m
68%
*40
Dec
9 Va
% Jan
Schenley Distillers Corp.
41
*2%/
_No
5%
100
74%
May
88%
100
Saieway Stores
6,500
Jan
8% Jan
10
1,800
Oct
42'/a
;
Jan
100
'52'/a
93
80
..100
1073%
7%
Jan
59% Nov
par
preferred
1073/4
112
3
No
513/4
>
20
>19%
69%
Jan
14% Jan
Francisco
non-cum
Jan
Jan
72% May 19
12% Mar 13
J
preferred
Louis-San
Jan
12
91
par
Joseph Lead
6%
6
May 8
May 17
5%
:
1
No
7%
*110%
25%
St
(The)
conv
14 Va
Dec
73%
...
preferred
Savage Arms Corp
>
52
40 %
17%
68%>
40
112
89%
*13%
1,800
*109
no
/..
3 >V
113
:
1073/4
40
48'/3
113
3,000
*110%
112
*109
*23%
3%
•
*2%
>113%
*7%'
7%
1073/4
28%
48%
*113
7 %?
51 ,>
24%
24%
113%
*107%
112
$2.50
120
%
7'A
40%
112
50
1 %
*112'%
1073/4
40
28
*483/4
3/8
48 [;V
51%
*107%
28%
50
1%
7%
IO73/4
♦111
40%
110
7%
50%
50
♦107V4
112
*109
7V4
7% :
*48 3/4
3/8
'
48%
*112% 113%
49%
> 1%
1%
%
1%
*48%
Co
Jan
8
1
Rustless Iron St Steel
Corp
1,000
3
4
No par
29
86'A July
13% Sep
Mar
8% Mar 16
Jan
No par
19
20
•
Jun
Nov
97% Mar 14
710
10
Oil Corp,
28%
80
>85% Apr
Company
193/4
19
66'A Jan
10% Mar 11
,4
Antelope Copper Mines
Royal Typewriter
19 %
19 J/B
14
3
Roan
19%
28'%
18%
48%
*111 >
Ritter
Nov
30
; 6%
102% Mar 24
'
283/4
28%
19
49%
100
.200
35
"
15
1
19%
29
18%
*107%
2,500
22% May
Jan
3
Jan
Co
*28'%
29
18%
7%
6
Jan
Jan
Jan
10
Mfg
Richfield
19%
28%
%
*48
6
Rheem
18
84
Common
v
900
19 J/4
18%
.
6%
15
19%
49
v
15
19%
*28%
v
28%
*%
15%
19 Va
49%
v
15
Aug
143/a
26%
93% Apr 24
Apr 24
63
No par
19%
18%
18%
*48%
*1%
37%
14%
9 Va
v
*14%
6
19%
28%
*35%
14%
'V.
9
14%
*5%
37%
14%
9%
*19
...
•35%
37%
14
*9
8% Apr
100
Reynolds Spring
Reynolds (R J) Tob class B
32
Dec
6% Jan
>5% % conv preferred—
7.500
Jun
223/4 Jan
3'/a Jan
94
100% Feb 25
No par
,.100
preferred,,.
Jun
15%
11% Jan
26 '/a Jan
Jun
101%
29%
Jan
17
7
87 "
21
15% Apr 24
19% Mar 17
70% Jan
100
12% May
71'A Oct
10 Va
7
70
Feb
>
Jan
Jan
3'/a Jan
54%, Jan
127% Feb
11% Feb
16
26
4%
59
Feb
10
14% Apr 19
x83% Mar 9
7,
Apr
30% Mar 21
Jan
18
No par
100
Reynolds Metals Co
3,500
29%
30% May 16
20% Mar 21
37
50% Jan
1
preferred
5% %
2
5% Jan
100
preferred
31% Mar 22
15% Mar 13
7
90
..25
6% conv prior pfd ser A—
7%
4,500
90%'
conv
107%. Jan, 17
3
'
Mar 10
9% Marl6
13
27% Jan
,10
Saratoga RR
Feb
32% Jan
—1
Revere Copper & Brassi.
.
410
90%
-
90%
•
2,400
92
72%
.
6%
953/4
73%
92
28
No par
Motors, Inc
Republic Steel Corp
102'%
"•••
&
74
3
,
15 Va Jan
,100
Reo
8,600
16%
.,25
.100
Preferred with warrants^
Rensselaer
1,100
102 J/2
72
72
2,200
9%
95%
92
.
93/a
*101J/4
95 J/4'
7%
91
9%
i6%
>
(Robt) & Co 1st pfd
Reliable Stores Corp
Reliance Mfg Co_
Remington-Rand
5
12% Feb
.,,5
.
Preferred
300
92
^
Rels
> 120
93%
No par
.—1
Real Bilk Hosiery,
10
92%
102%
*71%
64
923/4
16
163/a
72%
114%
16
*101J/4
7%
63%
94
16%
90%
114%
63%
16
95
7%
12%
.
*14%
19
19
114%
,
94
••
102%
71%
•
153/o
9%
95
90%
-
•
72
*143/4
16%
94
90%
12
153/8
'101%
102%
: -'*7%
92
72
-
*9 »•
%> 16%
94
7%
*90
9%
♦101%
95
*62
93
*8%
16%
*94
93
>
102%
w
623/4
.100
non-cum
4%
200
*14%
93 :
91%
8'%
preferred
18
7% Apr 24
85% Jan 27
28'% Jan
3
.,50
1st preferred
..50
non-cum 2nd preferred—.. .50
4%
300
>*8%
8'%
8% Apr
69% Jan
.1
Reading Company,,
300
30%
No par
No par
—
$2 preferred
1,400
>
*29%
*112
16
93
37
114%
18%
15%
92%
91%
.8%
*101%
18%
.
-16
30
8%
17%
37
conv
~um
Raybestos Manhattan
Rayonier Inc
400
1,300
623/4
15%
92%
>■
8%
*113
62%
*14%
17%
■" 8 J%
,
115
*61%
19
16
8%
■
*112
>
15%
*18%
;
,
92%
8%
*8
•;
115
15%
94
91%
,
v
*14%
15%
*91
9
*61%
62%
*61%
-
*112
115
*112%
>
163/4
»
30%
*17%
367/a
■
6%
4,500
30%
17
Radlo-Keith-Orp"
3,680
145%
30%
29%
17
1.500
923/s
29%°
14%
30%
913/4
-
Radio Corp of Amer
$3.50 conv 1st preferred
36.200
21,900
91%
37%
17
9
91
*367/a
*16%
72'%
>i
*16%
}
9%
71%
9
*29%
■
9%
71J%
8%
'
V
*30
>
9
93/a
70%
93%
*29%
-
9
2
Mar 18
6'A Apr 21
66
14%
4'A
Jan
14
14%
Dec
*17
53/4
Jan
5%
Jan
48'/a Jan
122
4%
May
Jun
July
Sep
103/4 May
15 V8
Deo
63% Mar
Apr
130
Sep
Nov
6
Oct
LOW AND HIGH
$ per share
May 10
May 17
$ per
$ per share
$ per share
share
$ per
share
5.100
Sunshine
20%
20%
21%
7,200
Superheater
7%
7%
7%
71/2
7%
*191/8
19%
19 </ff
191/2
191/2
19%
19%
19%
*79
80%
791/4
791/4
*20%
211/4
*20 %
211/2
*20%
21%
*20%
211/2
*20%
21%
32
*31
32
*31
32
*31
32
*31
32
10
10
10
*9%
30
30'/a
29%
30
29%
-
29%
20
-
79
*10
29%
29%
80
21%
32
*31
V
29%
•29%
29%
200
*30%
30%
30%
30%
30%
30%
30%
30%
30%
31
30%
31
27%
27%
27%
271/2
27%
27»/2
27%
27%
28%
28%
28%
5%
5%
57/o
5%
5%
6'/a
5%
*71/4
8
48
*45.3/4
6
5%
,
*7%
48
8
*73%
8
48
*45%
48
5%-
5%
5
5
5%
*5
5%
*45%
7%
7%
*453/4
•
51/4
5%
.
*7%
*45
45%
5%
5%
5%
7%
50
5,200
6
10%
10%
103/4
10%
103/4
103/4
10%
10%
10%'
10%
1,500
47%
48%
47%
48%
48%
48%
48%
48%
8.500
'Texas Co
48%
48%
5%
5%
534
5%
5%
5%
2,200
6
5%
6
5%
5%
33%
333%
33%
33%
33%
34
34
34%
341/4
17%
17%
17%
18 i/s
18%
18 3/8
18%
18%
18%
18%
18%
7.200
Texas
17%
4
11% Mar
12%
Jun
3
31% Mar 20
22 Va
Jan
27%
Nov
10
32% Feb
2
271%
Nov
35%
Apr
26% Apr 18
5% May 9
33% Jan
5
22%
Feb
35% July
7% Mar 13
43/a
Jan
8% May
>53/4
Jan
7
Jan
5
42
Jan
3
4% Jan
9%
934
93/4
9%
93/4
9%
10%
10 %
10%
10%
10%
'6,300
.221/4
22%
22%
*21
21%
*20%
*16
16%
*16%
17
57
57
*56
*55%
*7%
8%
*110
5%
12%
*11%
*12
123/4
*38
39
20%
12
143/8
14%
14%
1.4%
143/4
106%
106%
105%
27%
27
27'%
*27
27%
443/4
45%
4'5
45%
83%
83%
8%
83/4,.
8%
5
8-3/4
Jan
13% May
41'%
Jan
53%
3%
Jan
6% July
32% Apr
14% Feb
19
23
33%
Dec
4P/4 July
19% Mar 16
83/a
Jan
11% Mar 18
7%
Jan
13% July
16%
Nov
28% July
6%
Jan
14
Jan
53%
191/4
13%
*13
13%
3%
33/4
33/4
33/4
923%
*921/4
10%
16%
223/4
31
7
101%
*1.0%
16 v2
*13
103/4
16%
7
27%
8 s/8
83/4
193/8
18%
13 3/a
133/8
*13%
33/4
3%
33/4
*92%
93%
'
105/s
10 3/4
10%
800
16%
23%
16%
16%
•3.800
24
243/s
13,800
31%
31%
31%
'4,500
100
$4.50
233/4
31%
31 %
31%
93%
561/2
56%
*56%
10%
10%
10%
9%
103
*102
7%
73/a
99
99
9%
*9%
9%
9%
99
*98%
99
99
99
98%
*7%
Tubize
6% Feb
11
25
No par
32% Jan
-
__
12
13
93%
*57%
10%
59%
11 Va
79%
80%
Jan
153/4 July
94%
Jan
103% May
23%
Dec
343/4 Mai
49% Jan
July
25
40%
Jan
50
9% Mar 17
6%
Jan
10% May
17Vi Apr 25
21% Mar 16
15 %
Jan
253/8 July
24
11%
Jan
l7/s
Jan
12% Jan
94
8% Jan
3
1
21% Feb
17
28% Jan
69
Mar 22
11
4
15% Mar
Mar 25
16%
6%
12%
May
93/4 May
Jan
5
Apr
4% May
90
Jan
Jan
17% Mar 21
24% Apr
3
32 Va Apr
5
25
4
103% Apr
11
99
34% July
Nov
8% May
1
8% Jan
6
No par
51% Jan
10
59% Mar 28
No par
9% Feb
7
11% May 18
102
May
Jun
773/8
Jun
Jan
6%
10% Mar 13
Oct
93/4
Jan
67
5
101
Jan
4%
5
4
July
243/4
Jan
,Jan
100
.
4% Mar 13
4
Jan
>
14% Feb
5
3% Feb
85
Under Elliott Fisher Co
300
793/4
93%
May 13
107
13
8% Jan
par
Coach Co
26% Jun
Jan
29% Mar 14
15% May 19
3
Union Bag &
1,200
58%
11%
Feb
5
Twin
93/4
Mar
16
23% Mar 21
6
5% Jan
1%
9%
pTiferred
prior pfd—
Dec
3
43% Apr 24
1
No par
,.
Film Corp
34%
Jan
68% Jan
150
93/a
—No
Corp.—
Jan
Feb
1%
3
1
.No par
Corp—
Rayon
8%
26 %
3
St'l—No par
:
8
6
Mar 18
3
Jan
25
July
13% Mar
40'% .May
4
100% Jan
.
,15
-3
Jan
18% Mar
par
Sep'
May
63/4 May
Jan
3
Oct
9%
49
Jan
10
Jan
2
par
No par
No Par
City Rapid Transit—No par
preferred
100
Twin
•1,000
7%
99
99
19
Cen Fox
20th
'
'■
9%
103
*102
7%
7%
75%
*71%
103
*102
103
*102
7%
4% Jan
Oct
Dec
July
95
Jan
33%
July
8
Jan
4
23
Detroit
$1.50
23%
31%
47% Feb
July
18
Jan
52
9
May
8% Mar 20
19
11
(J R)
Truax-Traer
10%
231/4
V
113
31
Jan
Apr
preferred
$6
50
-
103/4
31
98%
■
931%
*93
92
.
2%
16
Feb
9
35
2
Jan
Tri-Continental Corp
9,900
3%
16%
23
*93/4
.
14
16%
23
*97%
19%
-
55% May
5% Jan
conv
*10%
31%
:103
8 5/s
,3,900
*19%
303/4
7%
4,000
83A
20% May 19
7
Transue & Williams
27%
45%
26% Mar 21
12% Jan
43
100
27%
,
50% Feb
X
10
400
$4.50
35% Feb
Transit Corp—No par
Avenue
Tlmken
1.400
■
1,7% Jan
10
preferred.:——No par
Axle
.10
Timken Roller BearingNo par
Transamerlca Corp.—
2.
Transcont'J & West Air Inc
.9
1
580
V
X45 %
.'
45%
16%
233/4
*101%
:101%
7
103/4
16%
14.000
23
.
223/4
31
93%
103/4
16%
*921/4
93%
15 %
105%- 106
93%
3%
92%
14%'
14%
3%
*18%'
*12%
3%
,
200
7
.
8% Feb
100
—,
.
Thompson-Starrett Co—
No
$3.50 cum preferred
N(
Tide Water Associated Oil—
600
13%
19%
13%
3%
-
2%
20%
106
10
Thompson, Products
■
11
10
1
•
—
Co
Thompson
200
4,300
*2%
18%
18%
19
*12%
*18%
39%
*19%
27%
x45%
8% 7 8 34
*18%
..
12
39
2%
14%
453/4
45%
7
12
20%
106
27 3/a
*
5%
Third
500
5
5
2%
106%
27
46%
*45
Apr
5% Mar
6% Mar 27
$3 div conv preferred
*19%
14%
106%
45
16%
Preferred
Jan
28
100
Na par
preferred—-.No par
No par
Pair—
Jun
Jan
3
4% Feb
Mfg Ccr
conv
Thermoid
1,300
7%
12%
39'A
2%
106i/4
14%
*10%
The
8'%
39%
*12
20
20
20
46%
*5
39
2%'
21%
2%
*19%
19
19
107
*921%
$3.60
8 3/4
45
35
11% Jan
Pacific Coal & Oil—
Thatcher
112
7%
7%
*45
5%
:
39
38%
38%
2%
*2%.
2%
83/4
*7%
*110
112
7%
47
51/8
*12
45
*110
73/a
*45
46 3/4
12
*26%
•8%
*7%
112
7%
7%
5
*4%
4%
143/8
180
*5
39
106
7,500
55%
*45
12
*19%
20%
47
*45
38 %
*2 3/8
19%
55%
•
47
4%
19
55i/2
6% Fee
12
6
Mar 17
50% Jan
—__JVo par
/Texas Gulf Sulphur
:1.700
17%
54%.
112
*7%
7%
7%
7%
*45
22%
17%
553/4
8%
*7%
*110
113
*110
113
*7%
8'A
*7%
8
*7%
*110
22%
17%
553/4
22
17
*553/4
8% Mar
49
10% Mar 29
Texas & Pacific Ry Co—
22
17%
57
*211/4
21%
3,600
35%
35
3
Feb
45% Feb
Texas Pacific Land Trust
*9%
35
July
33
8 % Jan
271/4 Jan
3%
4
No par
Producing
53/4
,
6
May
May
•
5
25
(The)———'i.
Texas Gulf
32% July *
14%
26%. Jan
9
Corp—.
•Tennessee
48%
Jan
24% Mar 22'
32
50
5
partic preferred
Telautograph Corp
11%
82
25
1
5%%
483/B
Feb
28
No par
Talcott Inc (James)
*10%
Jan
2
May
Apri
-12%
22
27% Jan
Symington Gould Corp..
100
84% Feb
3
share,,
73/a
Jan
19% Apr
12%
23'
Sylvania Elec Prod's Inc
5,400
46%
*7%
8
45
5%
per
58%
21% May 19-
27
Jan
33/4
8% Mar 16
29% Jan
Swift International Ltd
5,900
5%
*
Swift & Co
4,500
271/4
_
72
Highest
Lowest
v
$ per share' [ $ per share
3
17% Jan
No par
25
100
10
(The)
^Sweets Co or Amer
5,200
30
of Calif
5% Jan
10c
-
Superior Steel Corp.—
Sutherland Paper Coa
•
100
'
10
10
10%
100
,
,
Co.,
(The)
Co
Oil
Superior
600
80%
21%
80
1
10%
*9%
10%
*9%
■
■7%
79%
*79
79
79
Mining
7%
7%
Highest
$ per share
Par
7%
7'%
Year 1943
Range since January 1
Lowest
.
7%
7%
32
Shares
$ per share
STOCK
YORK
EXCHANGE
the Week
May 19
May 18
NEW
Sales for
Friday
Thursday
Wednesday
May 15
May 13
Tuesday
Range for Previous
STOCKS
PRICES
SALE
Monday
Saturday
Monday, May 22, 1944
FINANCIAL CHRONICLE:
THE COMMERCIAL &
2098
113/4
Jun
U
79%
79%
58
58
10%
10%
10%
10%
10%
58%
10%
79%
79%
,
*56%.
79%
79%
791%
79%
79 5/8
58
58
„
1161/2
*115 5/8
116%
113%
*115%
*113
114
115
1151/4
116%
*115%
116%
112%
112%
113%
113%
*113
113%
•18%
18%
18 7/8
18%
107%
107%
1071/4
97%
97%
97%
97%
97%
97%
971/4
97%
26%
26%
*261%
26%
26%
26%
261/4
26%
27%
1021/4
241/a
241/4
*111%
,
241/4
113
*llli/a
20%
X20%
20%
114
*110'%
114
24%:
20%
20
114
20%
114
*61
63
62%
62%
25
*241/4
*61
*24%
25
24%
24%
24%
1%
1%
112%
1123/j
21
*20 3/4
114
*110%
63
1%
1%
243/i
243/4
20%
24%
1%
28%
103%
*110%
,
63
61%
61%
28%
*111%
21
*110'%
%
63%
63
24%
*24
1%
5%
3,600
25
1123%
'
;
22
Jan
33%
33%
34
33%
33%
33%
33%
335/8
33%
33%
33%
5,800
131/8
13%
13
13%
13%
13%
13%
14
14%
14%
14 3/a
143/4
20.200
100%
*6
6%
*6
6'%
*47
48%
*47
48%
*47%
48%
*47%
48%
*47%
9%
9%
91%
9%
9%>
*95%
9%
9%
9%
*28
79
*26'%
27
79
1%
79
1%
1%
34%
34%
34
*1021/2
*103
103%
4%
'
.
27
79
1%
35
*103
4%
1031/4
1031%
271/4
27
27
79%
80%
80 3/a
81
1%
1%
35%'
35
35%
81
15/8
13%
35'/a
103%
5%
8%
8%
103%
16
*15%
73%
73
*172%
175
*16
72%
175
*8%
103
16%
16
16
i6yr
16 3/a
72%
72
72%
175
175
■11%
175
*11%
11%
11%
11%
*11%
11%
*11%
*47%
48%
47.1%
47%
46%
46%
*46%
48
*32%
35%
*34%
35%
*34%
35%
35%
*34%
*51/4
'5%
*5i%
5%
*5%
*20%
20%
20%
20%
*110%
112%
*110%
112%
*5%
5%
5%
5%
*9%
91/4
91%
9%
31%
31%
32 %
32%
431%
43%
*43
43%
*36%
38%
*36
38
1%
1%
451/4
44%
*138%
140
1%
45%
140'
1%
45%
140
*111
5%
5%
5%
5%
20%
20%
21%
20%
112%
5%.
9%
32'%
32%
32%,
32%
32 %4
43%
*43%
43%
43%
43%4
38
*38
38%
38%
38%
1 %
1%
1%
47%
10,000
141%
50%
51
50 34
51%
5iy*
45%
*45%
3%
3%
2%
2%
*86%
88
*15%
15%
*45%
3%
1251%
124% 125%
22%
22%
22%
46%
45
45%
3%
2%
2%
86%
86%
15%
51%
15%
35%
*343/4
69%
69%
167
*166
:
51%
511/4
3%
3%
2%
2%
2%
86%
86%
*86
16
*15%
15%
15%
*15%
3%
3%
3%
*3%
*34%
35%
*34%
71
70
71
167
*166
167
70%
166
3%
4
2%
4
*34%
70%
70%
*165
70%
166
280
10%
*10%
44%
*43%
*117%
120
*12%
12%
*411%
43
*73
75
♦18%
183/4
18%
18%
18%
18%
18%
18%
18%
19
"1.000
*10%
10%
10%
10%
*10%
10%
*10%
10%
*10%
43%
*43%
44
*43 %
44
43%
*116%
120
*116%
120
*116%
*43%
xll6%
44
116%
*43%
*116
120
12%
12%
12%
12%
12%
12%
*41%
43%
*41%
43%
*42
43%
*73%
75
*73%
80
*12%
*42%
43%
*73%
80
*75
76
76
76
76%
76%
*77
82"
"
*22 3/4
23%
23
23
*22%
23%
*74%
*22%
80
23
23%
*23
23%
t
*3%
4%
*3%
4%
4
56%
56%
*54%
55%
113%
114%
55
113%
4
*3%
4%
*55
56
114%
114
114
46%
55
*44
46%
*44
46%
*44
*38%
391/4
*38%
39
*38%
39
3334
333/4
33%
*33%
33%
*33%
55%
114
*44'
,.46%;
38%
33%
110
110
*111
115
111
111
115
'143
160
*143
160
i*143
160
*143
For
footnotes see page 2099.
56
114:
<
\
38%
33%
114% .114%
,
*44
46%
38%
38%
33%
33%
56
.
%
*44
56%
' ;
38%
Nov
33%
•115
*113
116
*113
119
' 160
*143
160
*143
160
'
1.30Q
80
.
13% May
Jan
99% Dec
9%
Jan
75
4
8
53/a
7
47% May
8
393/4
19
Jun
30
Jan
39% Mar 13
34% Apr 24
5
Jan 19
24
4
28
26
Feb
21
7
10
5% Apr
Feb
23% Feb
'3
Feb
-
Jan
84%
12% May
16% Jan
110
43/4
1
17
112
•
13%
108
X42% July
73% Apr
Jan
19%
Jan
114
Jan
Nov
8% July
Nov
9%
87/a Jan
25
9% May 18
8"%
30% Apr
19
34
Mar 13
29%
Jan
40% Jan
3
46
Mar
6
29%
Jan
42
35% Apr
18
32
Jan
44%
Jun
'
39% Mar 18
2% Jan
20
ii
July
Jun
3% May
Jan
25%
37% May
Jan
Feb
2
7
48% Mar 21
130
Jan
13
1421/4 May 18
101
Jan
130
Dec
52% Feb
7
58
Jan
11
46
Jan
62
May
70
,Jan
6
73
Jan
24
64%
Jan
74
55% Mar 16
473/a
Jan
593/a July
1
100
i
50% Apr
19
xll9% Jan 27
22
.
,
May 18
126
2% Jan
May 19
24
20%
23
42%
9Q
Apr
Jan
503/4 Aug
'
3% Apr
28
Jan
1% .Jan
29
4
Nov
July
Nov
48% Feb
Sep
125
Jan
24% Jan
,
44% Apr 26'
:■
112
46%
33/4 July
2% Apr
'5
Jan
3
Oct
Jan
13
87% May 12
56
Jan
88
Oct
14% Jan
-4
17 % Jan
13 %
Dec
20 3/8 July
•
-■
76
3
3/4
6
6%
2% Nov
July,
4
4% Jan
18
Jan
4
36% Apr
10
30'/a
Nov
41% July
Apr
27
75
Feb
16
59%
Jan
75% July
162
169
Feb
25
No par
.2.50
5
—i
Sugar
Vick Chemical Co..—
5%. noii-cum preferred—
100
Co_6%
—3
100
.100
Chemical,Works.———9
Chemical ——.No par
6% div partic preferred
—IOO
Va El & Pow $6 pref
.No par
Va Iron Coal & Coke 5% pfd—100
Preferred
Oct
43%
100
preferred.
Vulcan Detinning Cd
Apr
6% Mar 23
3y4 Jan
Mar 20
.
150
165%
Jan
v;
Virginian Ry Co
.
8% preferred—
July
68
Raalte Co Inc
1st
.
Jan
Dec
Apr
Feb
Va-Carolina
i
1,500
8% Jan
.
5%
Jan
180
10
Jan
,100
3%
10% Mar 18
Mar 28
i
21
5% Mar 16
40
Victor
700
1
38%
33%
s
l
1,220
115
46%
60
200
400
4
115
Oct
44%
104% Feb
31
Vicks Shreve & Pac Ry
20
75
4
Van
7%
■
i
75
4%
10%
39% May
;*.—_No par
'
23
4
Oct
Apr
Jan
—X
5
Norman Co——+—;
Vertientes-Camaguey
2.100
12%
80
300
20
120
43%
*73%
12%
:
.
Dec
753/4
.25
Vanadium Corp of Am
Van
200
I
43%
12%
*42%
73
73
10%
i
99
181%
70
,_No par
preferred.
■
18%
18%
Dec
Dec
conv
8%
10
293/4
Jan
70%
v
Jan
59
—
166
*165
163/s
168
Universal Leaf Tob
300
1,200
Dec
3
9
35%
16
2%
Mar 13
preferred...
No par
Universal-Cyclops Steel Corp
1
Universal Laboratories Inc.
1
Preferred
-No par
4
*15%
4
35%
*
non-cum
$6
Jun
Jan
*
400
Sep
2%
21% Feb
No par
iOO
;
United Stores class A
•9.500
2%
«,
preferred
United Stookyards Corp—.
1,100
33%
Apr
3
50
Rer & Min_
Tobacco Co....
7%
200
87
87
16
4
70%
*3%
2%
88%
*34%
166
-
,
U S
2,300
2% Jan
9
76%
60% Mar
81% Mar 16
50
1st preferred
Preferred
3,100
-
Jun
35
104!% Mar
No pat
10
U 8 Steel Corp
9%
,
Nov
3
20
10
.-1
Co
non-cum
Preferred
10,300
22%
Rubber
U S Smelting
500
51%
8
8%
1,200
71
-
Foundry
Playing Card Co
U 8 Plywood Corp—
U S Realty & Itftpt
U
July
233%
4
1
10
—
U S
900
46'/4
*45
3%
2%
35%
22%
46
U 8 Pipe &
"
125%. 126
22%
2%
35%
53
125%
*45
3%
3%
70%
*69%.
22
46
*3%
72%
900
66
Jan
5% Jan
6
10
——100
—*
S Lines Co
200
53%
54%
125
22%
22%
*45
•'
142
142
51%
125%
124
47%
47%
142%
53%
51%
51%
s
*69%
72
*34%
*166
47
53%
53%
*70
1%
142
142
142
86% •86%
"
4
*3%
47%
46%
46
141%
1%
.
700
9%
preferred
38%
6
Jan
29
7% Feb
.No par
.No par
Co———
Preferred
3.300
1 %
*9
9%
91/4
39%
1%
1%
45%
U
700
391/4
38
71
22%
2,000
*9%
53%
125
5%
Prior
Jan
14% Jan
conv
Leather
9
97% Jan
No par
Partic & conv cl A
70
32%
71
22%
*5%
S
Jan
3
'9
U
3,200
2%
19
42
112%
*111
5%
5%
51/4
21
17
Feb
4
600
361/4
Dec
28% Jan
__5
preferred—
50
U S Industrial Chemicals.—-No par
*43%
9%
53%
124%
5%
111
.
preferred
5%%
100
'
Sep
96
98% Jan
U S Hoffman Mach Corp
1,500
%
43%
70
22%
111
I
Freight Co.—
7%
151/8
Dec
No par
No par
———
1st preferred
Sep
Jan
'■
;_*
1
100
—10
170
32%
*9
32%
*43
53%
124%
111
5%
5%
70
*521/4
35%
*5%
-
preferred
Faperboard
35%
*
12
xl% Mar
Jun
2% May
7%
10% Apr
5
75% Jan
No par
Improvement—
Gas
6
26% May
5
Jun
.
57% Mar 13
19
Jan
8
_5
Fdy—
Jun
69%
x20
,
943%
7% Jan
45% Apr
100
'
Coal Cos—
500
48
20%
110%
5
.28
100
60
12
20%
69%
53
11%
*47%
35%
*34
Feb
6
X
U S Gypsum Co—
"3,300 '
175
48
U S
800
16 3/a
721%
11%
11%
*47
100% May 16
U S & Foreign Secur
*173%
175
14% May 18
4
80
16 '/4
Jan
18
2,900
$6
18%
12% Apr
91/8
72
■
5%
20%'
69%
*52%
*103
103%
72%
174
174
8%
9
*103
16
72%
175
8 3/a
104
*103,
72%
*15%
72%
8%
8%
8%
1031/4
.
Jan '21-
95% Jan
United
'
8%
1031/4
26
114
Jan
—
Jun
22% May
Jan
173/a
Co
May
333/a July
Jan
55%
25
United Merch & Mfrs Inc
200
109%
5
36% Jan
1,700
5
18
14
19
103%
4%
Jan
Jan
Jan
31% Apr
United Fruit Co——
■1.500
35
103
5
16
22o
5
40
Mar 25
68
Mar 23
Oct
114%
Jan
Electric
United
12,100
Jan
Ji
Preferred
2,400
Jan
173/4
26
United Engineering &
400
Nov
93%
1% Feb
Dyewood Corp—
United
1,600
*
271/4
35%
4%
United
100
j,
X24%
11
Jan
3
—
"
93/4
28% Mar
—..5
preferred ——No par
$4.75
s-
49
103%
35%
*103
4%
*4%
4%
:?
81%
*26%
1%
15/a
103
103
103%
4%
93/4
9%
27
1%
1%
*47%
49
79
79
34%
61/4
97
Jan
l'/aJan
Drug
United
300
100%
6'A
27
*26%
103%
4%
*99%
6%
*6
Jan
24%
No par
No par
Corporation-:
preferred
—
'
99%
99%
6%
*6
6%
*6
100%
*99%
100 i/a
100%
79%
9
113% Jan
3
.—-
25
Feb
113
4
May
Co—-
Oct
Apr
*
106
19
20% May
61
$3
33'/4
*99%
102'/a Jan
114%
27% Mar 16
18
par
3
Apr
30% Mar 13
19
No par
Carbon
,.
United
1%
No
Co——
109% May
24
22% Apr
110
9,700
1%
100
26% Apr
100% Feb
United-Carr Fast Corp——No par
300
'•.
1%
1%
100
28
100
United
223/4 July
102% July
98
.5
100
.10
100
conv;preferred
5%
500
63%
Biscuit
United
1,100
Jan
Jan
1
preferred
4%%
400
f
Jan
80%
92% Feb
"
;
211/8
114
105 3/4
#15%
26% May 17
preferred
conv
Feb
X118
19% Mar 17
3
United Air Lines' Inc
86 3/4 May
113% May 15
5
3
No par
113/4
Dec
Jan
93% Jan
preferred—
Jan
113
18% Feb
United Aircraft Corp
700
-
non-cum
Union Tank Car
7,200
29
1031/4
24%,
*24
1%
1%
4%
1,800
July
Jan
8
14
109% Feb
Union Pacific RR Co
600
26 3/8
103V4
24%
112%
112%
113
113
*110%
973/a
26%
116% Apr
19
25
100
100
Union Oil of California
2,300
*97%
Feb
113
59
42
x763/a
6
No par
$4.50 series
Preferred
90
1.400
18 3/4
82% Jan
76% Feb 25
No par
Union El Co of Mo $5 pfd__.No par
120
1161%
Paper
Carbide & Carb
Union
4,400
108
107
.
28%
24%
24%
24%
26%
V-1 O to s?
102%
*102
183/s
97%
26 3/a
15,500
114
*113
107%
*97
29
28%
102%
1071%
116%
r
183/4 •;./•-
*185/a
107%
107
29
28%
102%
18%
18%
108 %
108
28'%
24%
113
18%
18%
102%
*102
113
*201/2
*111 %
108
28 i/a
28%
1021/4
*115
,
-23
——.25
1
100
i—100
17% Jan
,4
153/a
4
11% Mar 17
8%
Jan
Jan
3
43% May 12
25%
253/a July
Jan
9% Jan
Jan
37
21% Mar 16
121/4 May 15
41% Jan 25
Mar
8
73
Apr
115
25
13% Apr 24
47
1
63% Jan
15
'Feb
11
70
.
76%'May 17
11
,21% Jan
7
23 % Feb
Feb
4
'5% Mar 24
4
Feb
,52
113% May
38% Feb
40%
20%
Nov
2%
Jan
621/4 Mar 24
115
Mar
34% Jan
7
15
6
Oct
Aug
263/a
Feb
6% July
1
68% July
Dec
X123
Jan
45
Jan
40
Oct
29 %
Jan
353/4
Sep
102
115
May 17
80
Feb
154
Feb
28
113
14
'
67% May
27
149
.
Jan
•:
20%
Apr 19
Jan
4
33
65
Feb
117% Mar 21
52
Oct
'
Jan
57
5
39% Jan
Oct
44%
Dec
51
•
,9
38% Mar 20
Feb
37%
12U
Mar
'
39
17
12%
-
118% Apr
116% Jan 28
Nov
Aug
Oct
Jan
110
Aug,
Jan
150
Nov
.Volume 159
Number 4283
THE COMMERCIAL & FINANCIAL CHRONICLE
>
NEW YORK STOCK
LOW
Monday
Saturday
May 13
HIGH
SALE
Tuesday
May 16
May 15
$ per share
$ per share
AND
$ per share ■■.■¥
RECORD
PRICES
STOCKS
Wednesday
May 17
Thursday
May 18
$ per share
Sales for
Friday
May 19
$ per share
NEW YORK
the Week
$ per, share
2099
"
Range for Previous
STOCK
Range since January 1
Highest
EXCHANGE
Year 1943
Lowest
Shares
Par
$ per
Lowest
$ per share
share
Highest
$ per share
$ per share
w
48% °48%
50
*48 7a
*49 ¥4 '"50
50
50%
11 7a
11%
*11%
11%
11%
113%
*117a
11%
27%
273%
27%
27%
27%
273/a
*27
273%
*105%
107%
*105¥a
107%
*49%
50%
50%
50%
*17%
18%
*177%
18%
87a
8 y8
*10
,
8
"
*9¥a
10%
51
*l¥a
57%
12
»I¥a
57%
.
12
,12%
*5074
87a
87t
,
10%
*22 7a
23
*22%
23
*16
16%
*15¥a
165/a
*15¥a
16%
25%
25%
25%
*25%
253%
253%
7¥a
7%
75/a
22%
88%
*87%
7 ¥4
88%
*98
99%
*97
99%
*92
t
23
88%
/
81%
93
*80%
23
115 ¥4
•
1%
700
583%
59%
3,000
12%
12%
14,200
12%
12%
23
*22 7a
23
*22 7a
237a
*22 Va
237a
*22 %
16%
1674
16%
28
28
28
*106%
107
*106%
27%
Jan
237a
127a
Jan
207a
Wayne Pump Co.—i————1
Webster Elsenlohr——No par
23
28
Wesson Oil & Snowdrift-
227a Jan 26
1,300
*87
887a
240
983%
983%
983%
99
99%
•80
92%
92
116%
*115 7a
1167a
116
19%
187a
19%
92%
*106%
273/4
107
27%
3%
3%
4
*3%
157a
88%
*19 7a
107
27%
27%
"
7
23 5/a
115%
19%
77a
2,500
227s •227a
923/s
900
92%
116
*4
197s
19¥a
106%
10674
*106 74
273%
277a
273%
27 ¥a
4%
19%
107
*10674
27%
47a
47a
24
923%
1,800
,*■
107
.20
4%
4%
11
11
*103%
11%
117a
117a
ll5/a
113%
11%
117a
Western
900
443A
45%
447a
45%
45 7a
45%
45%
457a
453%
457a
4,800
25%
25%
25%
25%
*25 %
253%
253%
26
257a
26
25%
25 ¥a
2,900
22%
22%
22¥a
22%
223%
227a
2374
23
23%
233/a
••237a
6,100
983%
2,700
97% •r 97%
■:
-
973%
98
98
98
131
131
33% '
28%
*31%
33%
28%
*31%
*27 %
28%
106 %
106%
106%
*106%
*101¥4
102
102
22
22
71
71%
:
98%
131
98%
*130
34
28%
*27 74
287a
*27
28
/ 1.06%
1067a
1067a
1067a
*
*
65
1067a
65
*60
ioi 3%- 102
22%
22
71%
71%
1967a
*60
65
*106
22
213%
22
22
22%
72
*72 7a
73%
73
74
717a
;
19
19%
*18 7a
193%
1974
1974
*18 7a
19%
*187a
1974
23%
237a
23%
233%
243%
24%
247a
243/s
243%
93/a
972
9%
9 ¥4
:< 93%
*25
26%
8
7%
7%
13%
'
83/s
'
26
8%
73/4
73%
14
13%
67a
77
26
26%
7%
13%
6%
*72
8%
*25
.
6%
77
*74
79
*7%
6%
6%
6%
6%
7¥a
26
26
83%
8¥4
8%
*84%
85 "
11%
*11%
11%
8%
8 3/4
84%
84%
*11%
.
•
83%,
83%
./
*117a
8¥a
8%
20%
37¥4
37 %
37%
37%
377a
38
25%
25 ¥s
25%
26
26
2674
¥
*20
114
*101%
*20
*101%
*20
20%
*10172
*90 '
98
*90
98
*90
20%
874
*1017a
112
9
87a
85
*84 ¥8
85 3%
11%
*122
11%
63%
*62%
623%
¥ *63%
65
*63 ¥4
65
*78
81
*79
'
62%
Jun
29
Feb
16
223%
Nov
No par
1057a Jan
12
108 7/a Feb
26
1067a
65%
81
*78
807a
65%
65%
*65
66%
3074
/:
*2974
97a
307a
972
*2974
9¥a
307a
3074
16¥8
167%
16%
167%
163%
95%
167%
93%
16¥a
343%
347a
3472
9974
9974
99
35
9974
35
9974
35¥a
99¥a
*14%
14¥a
14%
14¥a
14¥a
143%
*2974
93% '
"97a
•<
\» ••••.•.
.
,
>5
36
57a
574
*Bid
and
'
t
367a
3672
1.
;
-
.
asked prices; no
•;/
-
«
3672
57a
64
3074
97%
9%
6 %
$6
conv
-20
Motors—
preferred
x343%
-10
Co
—
"
147%
t
2,000
1,700
347%
'
35
4,900
100
.
1007a
480
*15
.
14%
15 74
1,500
''<■«'
-V.*363%
3774
3774
3774
574
574
5¥a
5¥a
fin receivership,
a
3
Jan
'-.c'
93/8 Apr
/
8074 Jan
4
5
127a Mar
Deferred delivery., n New Stock,
Jan
27a
Jan
Jan
19
¥a
Apr~27
57%
Jan
9
867a
Jan
Jan
Jan~25
22%
97a
Jun
14¥a July
97a Sep
47i Jan
115
10
63% July
0
Oct
11% Apr
121
Dec
17%
Jan
247a July
-10
363% Jan
3
39% Jan
22
3072
Jan
427a July
20% Jan
4
287a Mar 16
167a
Jan
—
253%
Oct
100
105
Jan
27
105
Jan
27
104
Dec
149
94
Jan
12
96
Apr
28
1003%
OCt
134
Sep
Sep
473% Jan
5
54
Jun
577a
Jun
1..-
r Cash
Oct
8
9
Oct
Apr
27
2 3%
887a Feb-16
103% Jan
77a
86
Jan
*20 7a
Mar 10
■10% July
Jan
Jan
No par
—
Co—
——.
"
.
•
sale,
Jan
78
643% May 19
657a May 11
877a Mar 14
May 19
58
Apr 26
5
277a Mar
25
par
100
96
Jan
13
Jan
' t\"1
Dec
587a
Jan
217a
7%
8
30
'
'
s
:
-
y
Apr
707a
Sep
Jan
313%
Sep
Jan
17V2 July
4174 July
Jan
98
Nov
97a
Jan
163%
Jun
19%
"
Jan
/'
397a Mar 16
5% Apr 17
x-Ex-dividends,
108
Jan
82
16% Mar 16
*
Jan
7874
383% Mar 16.
1017a Feb
3
33¥4Jan
3
3¥4 Jan 19
wd When distributed.
46
31
177a Mar
3
1
'
12
113% Jan
6'
par
Jan
443% Jan
31%'May 19
6
974 Apr
70
14% Jan
3
333% Apr 19
par
No par
1
Special sales,
s
49
-23
—1
1
Zenith Radio Corp
Zonite Products Corp
2,800
33% Jan
5
10
Aug
2¥a
874 May 18
147a Apr
6
3
Jun
22 ¥4
40
May 10
2674 May 17
"■•
20
Jan
100
preferred B
Prior pfd 472 % series——.. 100
1
1,500
Mar 23
Jan
1374
8
pfd—. 100
Yale & Towne Mfg. Co
York Corp
I
Young Spring & Wire
No
Youngstown Sheet & Tube__No
57a% preferred series A
Youngstown Steel Door
No
1,600
10
17
-i
'
367a
574
14
Feb
15
19
77a May 10
27
8
Prior pfd 472% Conv series— .100
Wright AeronauticalNo par
Wrigley (Wm) Jr (Del)
No par
10
300
93%
35
100 /
100
15
V
100
667a
3174
717a July
11
Jan
6
——No par
———No par
Woodward Iron Co
1,100
78
307a
2472 July
May 19
78
12% Jan 12
6%
167%
167%
Jan
¥ 583% jan
26
45% Jan
1
-10
—
Jan
24
-
preferred
Wilson-Jones
400
65
78
9%'
163%
367a
57s
sales on this day.
preferred-——
Wilson & Co Inc
106
65
¥*18
247% Mar
98
*64
303%
30
~
16¥a
14%
*«■
3672
57a
807a
Oct
223% Mar 16
20¥a Apr
Wisconsin El Pow 6%
643%
Apr
99
7
5
Jun
60
Jan
7
1
1127a
Mar
74
1
66%
*78
353%
100
35
100
ISllltllS
f,
363%
5Va
*64
7
Jan
52
85
Feb
Worthington P & M (Del)
7% preferred A——
X64
207a Feb
July
2974 May
May 18
677a Mar 22
103
Feb
Woohvorth (P W)
807a
*65
3
18
5,000
6674
*78
66% % 66%
19
9774 Jan
\
Jan
20
4.100
64
993% Mar 21
59% Feb
I-
-
2074
...
32
100
—
2774
64
127% Mar
12.50
No par
preferred
conv
383/b
x633%
7
13
38%
66
*64
Dec
247% May
/ 253% Jan
2074
637a
6374
623%
*633%
24 ¥s
Jan
No Par
'
*62
NOV
15%
July
27
*90
22
40
38%
*1017a
Oct
293% Mar 22
243% Mar 13-,
100
27%
98
Apr
49%
136
263/g
106
Apr
117%
Oct
Jan
38
*90
67a
Jan
Jan
•
400
*1017a
Jan
53%
Jan
20¥a
98
27*
377a
31
800
11%
Dec
81
Willys-Overland
5,700
Sep
31%
120
38
112
Feb
0ct
110
Mar 22
6674 Jan 28
3,700
9
5% Mar 22
10
Apr 24
x91
Jan
25
26¥a
*90
98
21
Jan
19
163%
507a Mar 22
14
3
Feb
227a Jan 20
Wilcox Oil & Gas Co——— —5
39,000
14%
20%
41
103
5
Oct
Jun
Mar 16
Instrument—-
20%
377a
'267a
77a Jan
v
113% Jan
4
Apr
3274 Jan
Oct
873%
119
35
Prior
2,700
8%
*122
100
-
Jan
Jan
133
600
11%
117a
*122
Ry
2nd preferred—100
57
109
14
107
263% Apr 25
33% Jan
7
—10
774 Jan 24
14%
87a
1
Feb
2074 Jan
x64% Jan 24
85
84%
117a
11%
*122
*121%
*20
'
*121
9
83%
847a
85
85
103
100
—
Supply CO—
No par
83%
*
4
-
1
White Rock Min Springs
8%
f. ■1474
73%
967a Mar 23
1173% Jan 10
3
White Sewing Mach Corp—.
l
$4 conv preferred—
No par
26
14
85% Jan
1133% Apr
1674 Jan
2,600
67a
26
77a
,100
White Motor Co
77
8%
99
2,300
10
■-6¥a
*75
137a 714
14
97a
6 3%
•77
2674
874
77a
*13 7a
97a
6%
*75
2674
8%
9 3%
6%
77
*74
Jan
Jan
$5 conv prior pref
No par
White Dental Mfg (The S S>—20
15,000
9%
9%
•9%
67 7a
Wheeling Steel Corp—
400
23%
*74
13
34.50 preferred.—-
320
19%
23%
101
4
Elec
5%%
2,000
23%
*19
96% Feb 16
Nov
8
160
-
Aug
Jan
5
Wheeling •& Lake Erie Ry—100
x
65
Dec
85
507a
r
Apr
Jan
150
1067a
2074
8
2
83
Westinghouse Air Brake—No par
Westinghouae El & Mfg——50
1st partic preferred
50
10
103
8% Jan
Mar
May
Westvaco Chlorine Prod—
*60
267a July
793%
24
200
103
,
Jan
Jan
90
Weston
102
17%
69
3
200
1013%
87a July
•
9
28%
*27
Jan
Sep
Dec
July
247a Mar 17
Jan
335/s
102
*1013%
22
131;
33¥a
27a
Apr
83
pfd—-100
472%
Maryland
87a Mar 22
26
187a Feb
Pap Co—No par
non-cum
11% Jan
May 18
6
Western Union Teleg class A-No par
Class B__——»—no par
'
*32%
71%
*71
98
*130
3374
*27'%
V
22
22
,
33 74
*60
102
98
,131
97¥a
*130
33%
*31%
66
*60
66
*59%
¥a
131
*130
131
*130*
22
.
j
4%
3
73/a
Jan
—
Power
Western Auto
700
113%
44%
preferred
Penn
West Va Pulp &
6% preferred
1,700
44%
Q%
West
6
77
Indies Sugar Corp—
1
West Penn Electric class A—No par
7% preferred
.—100
130
Jan
6¥a Jan
No par
—No "par
West
220
197a
——5
$4 conv preferred—
17,800
*10%
1
-
.
300
28
X28
4
4
81%
116%
116
July
4
88%
f;<-
May
2¥a Mar
56
193% Jan
23%
983%
13
Jan
23% Jan
887a
*91
26
Waukesha Motor CO—
23-%
98%
Jan
3
15 3% July
227a
98%
Mar 13
Jan
¥b
May 18
Apr
Jun
323%
80 3/8
*91
2
62
Oct
93%
Jan
227a
23 3%
47a
11% Mar 31
9
27
Jan
Dec
803%
*87
4 ¥8
Jun
547a
18¥e May
22
227a
887a
27
Jan
109
Jan
153%- Jan
14
81%
23%
Jan
1¥0 Feb
45
Feb
3872
Mar 31
24¥a Mar 22
223%
77a
974 Mar 17
53
117a Apr 24
73%
*80 7a
Pictures
3
103
1874 May 10
22% Apr 19
22% Apr 25
15% Apr 25
813%
8
Bros
4
12
Dec
.——5
223%
22%
117
*18%
19%
•
Warner
113% May
287a July
Feb
8
50
.
Jan
774 Jan
—No par
—
407a
Jan
Fdy & Pipe——No par
Washington- Gas Lt Co—No par
73%
73% V
preferred
Jan
7%
20¥a
1774 Jan
preferred——No par
Warren
23%
8
1053% Mar 27
48
24%
8
1274 Mar
100
16%
27
$7
59% Mar 13
273% May 10
1063% Apr 13
400
23%
16%
26%
700
23
*22%
preferred —————100
G & W—No par
Ward Baking Co cl A——No par
Class B—No par
./■; *93%
10%
par
(Hiram)
Walworth Co———
'■<¥:-' 13/s
62
■
*19
4%%
7,400
81%
•
1
No
Dtv redeem
1%
•
*22 7a
>
3
19
267a Apr
Walker
10%
1%
23
*863%
92
92
115%
115%
81%
22 ¥a
874
60
■
Jan
103% Jan
,
800
*803/a
23
23
81%
8%
40
Walgreen Co
100
51
23
23
23
23
*
8%
47a% preferred—100
Waldorf System.---.—Ng par
500
1,200
18%
8%
12%
167a
*25 >/4
T' 7%
507a
1%
23
ll3/a
1063% 1063%
■V
Wabash RR
800
28
*18%
61%
23
28
107%
*93%
17a
*22%
*11%
50¥a ¥50%
59 ¥a
12 7a
50
*18% '■18%
11
107a
1%
59
12%
*22%
277a
*105¥a
18 3%
50
ll3/a
27%
51
*18 74
*22%
■
*11%
V
1077a
18 %
87a
10%
1%
57%
12
12
8
10%
1%
■
*1053%
51
*18%
8%
58%
*1%
*57%
*105% 1077a
503%
50
•
2
Jan
'
.■
37% July
43% May
Ex-rights.
%
Transactions at the New York Stock Exchange
Transactions at the New York Curb
Daily, Weekly and Yearly
Daily, Weekly and Yearly
United States
Stocks,
and Miscel.
220,110
—
Monday
Tuesday
Wednesday
Bonds
$2,543,900
$217,000
4,747,900
6,482,400
8,711,000
385,000
Shares
-
——
'
536,080
(Number
Week Ended May 19,1944
$2,766,000
31^500
230,500
817,570
—*
944,470
11,914,300
264,000
604,000
789,300
12,151,900
279,000
5,000
$46,551,400
$1,751,500
Total
3,644,560
$648,600
$7,000
392,000
4,000
456,000
29,000
488,000
21,000
15,000
173,190
603,000
25,000
2,000
630,000
184,575
529,000
25,000
23,000
577,000
$2,680,000
$111,000
$51,000
$2,842,000
119,070
Wednesday
Thursday-
12,435,900
—
174,805
$48,951,500
—
.
Total
816,200:
'
Week Ended May 19
Week Ended May 19
1944
Stocks—No. of
shares—
Jan, 1 to May 19
1943
1943
•;
1944
3,644,560
$648,600
1,751,500
46,551,400
$110,950
2,119,000
59,593,100
;,/• ,',.V ¥;.:///
Stocks—No.
141,302,149
86,662,044
6,133,090
'/•/.;■■ ■''"r:
S.
I
Railroad
.
ft
Li-*,,
1943
$219,000
$Ti~ooo
407,000
485,000
'
524,000
Jan. 1 to May 19
1944
1943
816,200.
1,949,745
22,687,727
34,967,292
$2,680,000
$3,925,000
$74,236,000
$95,159,000
111,000
596,000
67,000
3,603,000
427,000
6,466,000
51,000
$2,842,000
$4,588,000
Bonds
Government
Foreign.
1944
of shares
Bonds
U.
Total
$212,000
Tuesday
12,782,300
—————
Thursday
Friday
Value)
Foreign
Corporate
50,670
8,944,500
———-----,
Government
113,890
6,889,900
3,000
:
Foreign
JDomeitio
Shares)
5,132,900
•
Bonds (Par
°t
w
Sales
$5,100
■
376,000
Stocks
Bond
Bonds
Bonds
337,030
Week Ended May 19,1944
Saturday
Foreign
Total
Government
Railroad
Number of
Exchange
5
industrial-.
Total——
$48,951,500
$2,994,300
$1,209,200
42,484,500
;•
56,081,700
1,225,378,900.1,636,505,200
Domestic
Foreign government
Foreign corporate
$61,823,050 $1,270,857,700 $1,693,796,100
-
Total..
Stock and Bond Averages
Below
listed
on
the daily closing averages of representative
the New York Stock Exchange as compiled by
are
■■."-'
\.
•■'.•
■.
'■
- •■
..
'• ''■
.
30
4
20
IS
Total
Indus-
Date—
:
,■
May 13
and bonds
■
—
i
-Bonds10
;'•••■
stocks
Dow, Jones & Co.:
-Stocks-
Rail¬
Utili¬
trials
road!
ties
Stock!
49.42
•J
65
10
10
First
Second
10
Indus¬
Grade
Grade
Utili¬
Ralls
ties
Bonds
80.46
110.73
101.49
101.59
trial!
Ralls
106.81
107.93.
Total
40
138.60
38.62
22.50
138.60
38.70
22.58
49.46
106.94
108.05
80.62
110.75
138.41
38.91
22.60
49.49
106.91
108.09
80.79
110.84
138.99
—
39.40
22.75
49.81
107.00
108.23
81.31
110.88
101.86
139.20
39.48
22.78
49.89
107.08
108.45
81.84
110.91
'102.07
139.34
39.43
22.90
49.94
107.00
108.68
81.71
110.88
102.07
•;
■
■■;-'
■
May 15—
May 16
—
—
May 17—i._May 18
—
May 19_j._j—_
—
/
101.66
435,000
$78,266,000 $102,060,000
THE COMMERCIAL & FINANCIAL
2100
Bond Record
New York Stock
«»
friday
NOTICE
Prices
column headed "Interest
Period" Indicate in each case the month when
1
■
.
S.
1947-1952
—1944-1954
1946-1950
-—1946-1949
Treasury 4s
33/»s
Treasury 3Vis
Treasury 3 Vis
Treasury 3s
Treasury
-
3s
27/aS_,
1955"}9t?2
23/is
—1945-1947
2Vis
1
2Vis——i
—1951-1954
2Vis
—.—
1956-1959
2%s
2%s—
—1960"J£?~
2 Vis
2 Vis
______-----1948
2Vis
19'49-1953
2 Vis_«_
_„__u_1950-1952
2%s_
MSS'SS
2Vis
.
2Vis
^
2Vis
1963-1968
2%S_.
June 1964-1969
2Vis
Dec. 1964-1969
2 Vis
—1965-1970
2 Vis
—1967-1972
2 Vis
._
1951-1953
2 Vis—;
1952-1955
2 Vis
:
—1954-1956
2 Vis
——1956-1959
2s
.
——1947
2s
Mar 1948-1950
2s
Dec 1943-1950
2s
_Jun 1949-1951
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
Treasury
—Sep 1949-1951
—-Dec 1949-1951
2s——
Treasury
2s
2s__—_—March 1950-1952
2s_
Sept 1950-1952
Treasury
Treasury
1951-1953
Treasury 2s
Treasury
1951-1955
;—1953-1955
June 15 1948
2s
Treasury
2s
Treasury IVis
1944-1949
Owners' Loan Corp—
M
series
1 Vis
106.9
105.4
111.20
102.28
J-D
M-S
J-D
J"D
J-D
M-S
J-D
M-S
106.24
106.24
109.3
111,11
111.8
*141.6
111.6
*111.4
__
lll/F
elll.8 elll.8
__
24
el03.31el03.31
103.21
103.22
*100.12 100.14
__
100.14
100.17
100.2
100.2
600
100
100.5
100
100.2
2
100
100.5
100.1
100.1
100
York
>-
__
100.2
100.2
100.9
101.31
*101.23 101.25
101.8
101.6
100.31 100.31
100.21
100.5
100.17
*105.6
101.11
101.11
M-N
1980
:
108% 110%
130
1949
debt
1977
J-J
5 Vis
A-0
1942
J-J
1955
1962
A-O
M-S
External
gold
5Vis
External gold 4Vis
§A2d
series
sink
5'/2S
1st
5%s 2d
AEstonla
AGtd
.
(King of Norway)
.1947
.—1948
4s____1968
(Dept) coll 7s A—_—1943
s f 7s series B_
1945
AExternal s f 7s series C
1945
AExternal s f 7s series D
—1945
AExternal s f 7s 1st series—1957
AExternal sec s f 7s 2d series—1957
AExternal sec s f 7s 3rd series—1957
AAntioquia
AExternal
AAntwerp (City) external 5s__
1958
Argentine (National Government)—
S f external 4%s__
-1948
1971
1972
1972
4Vis
loan
S
f
8
f extl conv loan 4s
conv
S f extl conv
Feb—
loan 4s Apr_;
(Commonw'lth) 5s of '25-1955
5s of 1927
1957
Australia
External
of 1928—...——1958
Belgium external 6Vis
1949
External s f 6s
-1955
External g 4Vis
(Central Ry)
Brisbane (City)f 5s
stamped
s
South
30-year
30-year
2
3s
3s
A Chile
(City)
(Rep)
s
f 7s
A41/2
s
assented
1021/2
591/2
56%
27
56%
16
47%
57%
58%
58%
-6
49%
591/8
92
96
A 8s
extl loan of 1921
96
A 6s
external sink fund gold
100
A 7s
external loan of 1926
57
Alegre (City of) 8s
>
95
92
"
95%
80
80
M-N
*—•
AExternal loan 7Vis
A
Extl
sec
6 Vis
Rio Grande do Sul
(State of)—
;
95
95
80%
39
72
12
72 Vi
loan
:.
96%
88
94%
94
A-0
96
A-0
*26
A-0
83
85
*30
A-O
*12%
-
-
31%
36%
24
25
163/4
25
23
134
16%
223A
95
;y
I'
tmim,
1953
f
1940
F-A
1968
I960
J-D
1967
1964
J-D
333/4
A-0
12%
25%
26
2
14
21
30 3/b
42%
12
26%
36
393/4
__
34
38%
50%
■
38%
333/4
79%
80 Vi
85
73%
81
83 J/4
15
73%
58
81
58
8
109% 110
24
106%
106% 106 %
4
J-J
103%
103% 103%
20
U
50
*
34
41%
15
100 %
104%
101 %
30
343/4
4
39
42%
36 %
33%
33%
4
29
34%
363/4
5
34
37%
36%
36%
5
34
37%
88 3/i
89
81%
89
22
For Financial Institutions
1033/4
103% 103 %
2
101%
102% 102 %
5
102 V8
104 J/8 1043/4
6
103 Vi
1043/4
J-J
*105 Vi 105%
101%
105'A
securities
1031/a
J-J
foreign
103"%
J-J
M-N
30
M-S
1981
1902
y-s
1962
A-0
A-O
17%
16%
17
61
183/4
1
16%
17
16%
14
17
16%
—
17
26
17%
21
17;
10
*18%
16%s/r> i 16%
__
osm*—
:
rAM. mabes 4 r.o. IHg.
19%
171/8
193/4
16%
FOREIGN SECURITIES SPECIALISTS
19%
19%
16%
19
18%
19
19
16%
19%
50 Broad Si., New York 4, N. Y.
19%
16%
19
iTPfl8%
.•-H i6%Jtee.ri6%
193/4
16%
17%
:*18%
:
19 -
18%
19
17 Vi
18%
17
J-J
1901
193/4
firm trading markets
30
18
*18%
A-0
1961
18
19%
"16%
M-N
30
*18%
Telephone HAnover 2-0050
50%
23
1063/4
M-N
37%
103
41%
83%
58
30%
35
1
80%
108%. 110%
'
26%
32
363/4
33%
M-N
M-S
-
w«»
11%
26
41%
:
■'
30
'
36
•
——
24%
24%
.
.
102% 102%
■
17
■■
*36
f
96
~7
35%
M-N
A-0
94%
88%
105%
25%
F-A
87
104%
303/B
■
J-J
2
12
■
.
*10
A-0
J-J
"l
80%
Santa Fe external sink fund 4s
98
94
81%
80%
municipal
96
7
83%
94Vi
J-J
7%s—1952
Queensland (State) extl 6s
1947
A Rio de Janeiro
(City of) 8s
1940
98%
88
*104%
*38i/a
APrague (City of Greater)
97%
98
*94
"
M-N
J-D
-
^
83%
I960
101
101
APorto
1968
1950
1963
■
100%
'
A-O
1961
100%
J-J
Sep
A4Vis assented
sink fund gold 8s
AExternal
•/. 50
47%
*93
A-O
2104.
1958
1947
f 7s
39
110
Sep
pege
s
59
A-0
.1960
A 6s assented
1940
4% s assented
AStabillzation loan
90 Vi
88
f 6s 2d ser
gold 6s
56
A-O
—Jan
see
A
s
(Rep of)
101
*100
F-A
fnotnotps
ANat Loan extl
lAPoland
97
93
100
24
22%
96
1960
1961
98%
93%
4
96'/a
22
56
80
1970
1955
A-1963
36
100
89
■
96
98
22
7s
I
95
*87
•>••23%
(State of)
(Rep of) external 7s
extl s f 6s 1st ser
100%
96
96%
223/a
APeru
series B__
2
*93
/-J
For
53;
r
*101
M-N
.1960
AExternal sinking fund 6s
extl s f 5s ser
II
ft-
95%
98
F-A
J-D
36
32
92
98
A-O
1963
loan
"2
■1
23%
100 Vi
92
100%
*100% 102
F-A
assented
98 Vi
17
-.58%
J-J
1901
assented—
1965
(Rep)
131/4
32
■
'
1961
sinking fund 6s
32
96
.
-1
89 Vi
90%
,.,100% 100%
M-S
Feb 1901
A 6s
4Vis
fund
extl
35 3/4
98
J-D
951/4
♦
18%
17
98
M-S
7
951/2
F-A
13
18%
16%
*100
1947
60
92
Jan
A6s
A Extl
M-S
1959
56%
"1V
92
Feb
f 6s
.
87
assented
s
1958
6s
35%
32
sinking fund 6s__
A 6a
Ativ external
1944
fund 4%s
*95
35%
95%
J-J
1942
^7s assented
AExternal sinking fund 6s__
A 6s assentedA Extl
59
94%
-V.
A-0
F-A
sink fund 41/28.:
(City)
APernambuco
95 V*
1958
1954
8s
External
fund
F-A
1958
M-S
20
94%
J-D
14%
-
1957
M-S
95
1942
15
Jan
—
ACarlsbad
.
5s
1967
951/4
F-A
—Jan 15 1948
Jan 15 1953
Vis
1
Ext sec ref 3Vis
J-J
M-S
1961
1967
1968
3 Vis.
3s
3s
25-year
(State)—
f 5s
s
20J/2
16%
91%
1970
1970
s
Wales
s
Municipal Bank extl 8 f 5s
91 J/4
1977
f $ bonds
Canada (Dom of) 30-yr 4s
external
3%
;
external
sink
7s
20%
16%
-i'5
16%
:
Vi
58 Vi
1975
__1984
—I960
(City)
A
*34%
J-D
82%
M-S
agree
15/8
18 Vi
*17
*16
1963
1994
82
56
External readj 4%-4%s
1942,
7-7
Stamped assented 5s
Stamp mod 3 Vis ext to
76-
A-0
1933
10%
14%
*98
A 7s
External s f 4Vi-4%s—
5,
*13
agree
11%
93/4
—
A
93
J-D
Refunding s f 4%-4%s
Nov.
1942,
assent
14%
11
17
M-N
APanama
91%
56 Vi
f 4%-4%s
5,
143/4
10%
*143/4
7-7
17 Vi
11
*10%
1959
23
91%
A-0
1961
1945
"j-D
el5
11
agree
1954
1913
el5
agree
10%
17
*17
1952
series
23
90%
J-J
11%
17
—
35
17
90%
58%
—
1942,
1942,
*18%
103
17
90%
90
98%
35
sink
90%
M-N
Q-J
5,
Nov.
to
"q-j
5,
1910
(State)
External
F-A
M-S
89%
10%
1945
£
1904
Nov.
to
56
9
23
,100
M-S
23%
97%
11%
*96
agree
1945
Nov.
of
6s of
sink
A-0
J-D
1958
.1950
Sinking fund gold 5s
Sinking fund gold 6s
Buenos Aires (Province of)—
1942,
1899
1899
4s of
External
95%
100%
M-N
16 3/4
M-N
1943
5,
A Nat loan
M-N
23%
*98
5
20%
59
J-D
1951
1957
1952
—1957
A 7s
External
59
J-D
23Vi
J-D
18
20%
*18%
J-D
1954
993/4
12%
M-S
23
20%
A-0
J-D
62%
951/8
17
M-S
23
20%
20%
-1941
AExternal s f 6Vis of 1927-
A 6s
A-Q
A-0
1954
•/
1959
Oslo
22
23/
6%s
62%
99
A-0
1958
23
21%
J-J
*16
19%
86%
f 6%s
23 Vi
'
20%
16%
751/4
f 6 Vis
17
23
102
16
s
17
38
23%
101%
ly
86%
s
8
21%
J-J
*95%
A-0
86%
external
4s
23
231/8
J-J
M-N
5s of
to
50%
56
—
19
*18
l'<57
7s
'■
103%
20%
20
20%
86%
993/4
103%
100
;S50
f 5s_
Nov.
to
55
*64%
J-J
*
— —
A-0
of
4s
53
T
56
A-0
M-S
*103%
1949
34%
90
•'
external
Norway
*56
1955
External s f 7s
1A Brazil (U S of) external 8s
AExternal s f 6Vis of 1926
1949
readjusted--
to
5s
Geraes
External
(Colombia)—
92%
30
*88%
J-D
1952
1960
extl
(US)
AAssented
A 6s
Municipal
sink fund 6s
M-S
assented
stnmned
AMontevldeo
1-1693
'
35
A Sec
NY
2
88%
A Sec
New York
:
93%
85
84
Irrigation—
External
AGtd sink fund 6s
1945
(State Mtge Bk)
AAssented
T eletype
•
•
*30
1968
AAssenting
York Stock Exchange
P-A
88%
J-J
extl 6s
4s
90
—'
~1
93%
A-0
1964
(Prov)
75
—
86%
A-0
paid
New
Akershus
1969
(Colombia)
78%
'
*88%
93%
paid
AAssented
Mtge Bank
1.
1967
s
803/4
673/4
*88%
part
Mlnas
Broadway,
O. '
7
74%
*70
A-0
part
Jugoslavia
76%
M-S
A7s
§ATreasury
120
75%
7s
Republic 7» stamped
unstamped
Greek Government—
AAssented
Wertheim & Co.
74%
65
71%
16
76
65%
69
__
A-0
__1969
series
7s
A
*62/8
1961
series
Irish Free State extl
149
59%
59'/a
*631/8
1940
5%s
(Republic of)
(Republic)
105%
112%
'
fund
Customs Admin 5Vis 2d series
A Assenting
Members New
"5
••
>•
107%
1393/4
1
149
104%
1003/4
15
76
27
1041/2
105
F-A
20-year extl 6s
65%
21
103% 105Vi
105
149
.
V.
40
68
57%
14
105
A-0
# A Denmark
36
593/4
1
■
40
34
:
2
105
'
•Wm.
J-D
1952
ser
^
*107
1945
(Rep of) 8s
—
*1.053/8 108
J-D
1953
Sinking fund 8s series B
/
Agricultural
11
4%s
A Assenting
&
2
26%
external
AAssented
Govt.
62%
25%
*38
F-A
A4%r
Foreign
62%
loan
AMexico
2-2300
66 Vi
62%
Mexican
Telephone
40
M-N
Mendoza
REctor
40
65%
..1953
Rica
iRep of) 7s
(Republic of) 5s of 1914
AMedellin
Foreign Securities
37%
65%
(Republic) s f 0s series A
Helsingfors (City) extl 6%s
el09 % 110
J-D
43
34
40
F-A
Haiti
City
Issue—
Corporate Stock
;
64%
393/4
40
A6s
J-D
57'/4
57
40
A.1951
100.28 100.28
^
*100.30 101
3
48
km**'"
J-D
French
101.5
65%
64 Vi
46
M-N
1952
Finland
105.8
*101.9
J-D
J-D
57%
64%
.1947
100.31
100.14 100.14
2
M-N
101.9
*100.16 100.18
203/4
65%
47%
M-S
101.19
101.10
*101.8
17%
A-0
1949
*101.18 101.20
*101.15 101.17
17%
"2
J-J
1951
10L31
104.8
104.8
15%
17%
A-0
25-year gold 4%s
104.11
102.2
163/4
15%
1981
bonds
#ADomlnican Rep Cust Ad 5%a___1942
§ A 1st series 5%s of 1926
1940
100.11
18
65
1940
wks
18 3/8
16
30
16%
18%
17%
-lC-
163/4
_1947
A Public
•
.
'
16
20
:
17%
Mtge Bank 6%s
4Vis
'
16%
1970
Jan
f S
s
ACzechoslovakia
*104.23 104.25
M-S
1927
A
*102
A-0
18
*15%
—
ASinking fund 7s of 1927
(City) 5s
107.8
*104.9
M-S
M-S
J-D
of
external
Oct
Sinking fund 5%s
*101.29 101.31
100.2
1961
18%
M-S
J-D
18%
16
i?%
*16%
M-S
18%
22
163/4
16
18%
17
17
16
19
16
1
16
16%
'
'
1928
Copenhagen
106.9
100.10
1960
I960
'
19
16%
■'
18
*16%
M-N
19S1
'!
17
16%
M-N
1962
19
16%
"I
16%
16
ASinking fund 7s of 1926
100.18
106.9
*100.8
A-O
1962
January 1
Low
High
'
*16%
(Republic of)—
of
External
*100.14 100.15
*107.6
,_1961
.!
sink fund 6s
A Costa
*106.25 106.27
J-D
J-J
J-D
M-S
J-D
M-S
J-D
J-J
M-S
J-D
A-O
(Hukuang Ry) 5s
AColombla
100.7
100
11
1961
6s
Cuba
100.6
10O
1
•
J-D
assented
7s
3s
_
:—1945-1947
.
New
•
1
A
""
*103.20 103.22
__
J-D
j-D
J-D
M-S
M-S
104
1961
Chilean Cons Munic 7s
A 6s
10~3~31
107.5
*107.3
*107.19 107.21
A
106.24
106.18
J-D
assented
AChinese
103.9
106.24
1961
Sold
No.
High
17
17
/
J-D
6%s
assented
A6s
A6s
106.16
*106.19 106.21
1957
17
V
*
•
Range Since
*183/4
J-D
.1957
sink fund
AGuaranteed
Colombia
112.6
103.9
103.7
*103.5
M'S
A 6s
109.12
111.9
*109.14 109.16
__
A Guaranteed
103.11
*106.22 106.24
M-S
Bank 6%s
:
Bonds
Friday's
Sale Price Bid & Asked
M-N
A6%s assented
112.5
102.28 102.28
,_1963
fund
or
M-N
A6%s assented
ASinking
Last
Low
1963
assented
A 6s
100.19
*111.27 111.29
•
(Continued)—
sinking iund 6s
(Rep)
External
A Chile Mortgage
uTi" liiTIT
111.10
*111.8
__
__
«
105.18
100.19
*104.28 104.30
Transit Unification
3%
105.23
Corp—
Farm Mortgage
,3s
Home
102.29
105.6
*110.18 110.20
__
^"3
-
102.28
-
Treasury
Treasury
Federal
J-D
J-D
J-D
M-S
111.9
102:4
*105.4
__
Chile
111.23
*105.20 105.22
__
Interest
Period
High
Low
111.13
Week's Range
Friday
Stock Exchange
January 1
Sold
No.
*111.7
MS
.
;
High
*102.2
4-0
J-D
_—-—1949-1952
1946-1948
.—1951-1955
BONDS
New York
Range Since
Bonds
Friday's
Low
Government
Treasury 4 Vis
Treasury
or
Sale Price Bid & Asked
Period
>•,
U.
Last
Interest
Exchange
Stock
MAY 19
Week's Range
Friday
BONDS
the bonds mature.
FOR WEEK ENDING
RANGE
New York
yearly
-
Cash and deferred delivery sales are disregarded In the week's range, unless they are the only transactions of
In the week in which they occur. No account is taken of such sales In computing the range for the year*,
Interest"—except for Income and defaulted bonds.
regular weekly range are shown in a footnote
"and
are
The Ifolic letters in the
weekly
-
and when outside of the
the week,
Monday, May 22, 1944
CHRONICLE
Teletype n. y. 1-971
THE COMMERCIAL; & FINANCIAL' CHRONICLE
Number 4283
.Volume 159
2101
NEW YORK BOND RECORD
R^NGE FOR WEEK ENDING MAY 19
BONDS
Interest
Stock Exchange
Week's Range
Last
Period
or
Bonds
Friday's
Range Since
Sold
January 1
Low
High
Sale Price Bid & Asked
Low
Paulo
ASao
(City of Brazil) 8s
1952
38'/2
33'/a
m-n
;
A6%s extl secured
|ASan
Paulo
(State)
A 8s
extl
8s—_
A 6s
7s
f
s
i
A 8s
a7s
series
35 '/a
6
30
34%
■
38%
44
50
<;
.
A-0
1962
39
33
37
30
18
61%
56%
11%
17
Circular
17
A 4
B sec
1962
_
7s
extl
63%
PFLUGFELDER, BAMPT0N & RUST
17%
J-D
_1955
(Republic) extl 8s—...,.1940
Uruguay
AExternal sink fund
____1960
fund 6s___
sink
A External
6s
*17
F-A
21%
95'/a
95'/a
95%
„7
91
95%
90
"4
91
*88
m-n
90
90
1964
m-n
1979
M-N
conversion-.
.1979
m-n
*64'/3
J-D
3%-4%-4ft
3%e extl
1978
readjustment
1978
1984
readjustment,
(City)
Industrial
and
65%
68
60
65
60
66
70%
F-A
71
§A5s
66%.
J-J
*15
18%
8
19%
10
19%
18
62
10
*62
F-A
18%
Guaranteed
series
A
plain.....
1953
1907
*72
10-year deb 4'As stamped.
Great Southern 3'As
Power
1st
J-D
M-3
1947
Albany Perfor Wrap Pap 6s
103
F-A
,104% 104%
*104%
108
A-0
assented______1948
A-0
A-0
6s
with
warrants
3%s
registered
Alleghany Corp—
■
.....
1948
.
yy
1
103
J-J
....1948
A-O
*96 '/a
„
'
103%
4
67
**— •
103
Collateral
Carolina
9 8'/a
Cart
100
modified
A5s
...1949
J-D
1950
4-0
Y
income.
___3950
A-O
1998
____________
102%
101
Stores
&
Am
Corp 4J/as debs
Cliem
G
Internal.
Am
American
5'/2S__
conv
Corp
..._1949
5%s
...1949
conv
debentures.
3'As
debentures
3s
F-A
102%
100% 102%
112
102%
99% 102%
645
87
3
67
78
106
106
M-3
M-N
99
91
93%
;
;
93%
78
95
103
104%
Central
105'/a
107%
1961
debentures
A-0
110
109% 110
77
107%
110
109% 110
10
103
110
...1956
117%
117'A
655
115%
A-0
103%
103% 104'A
53
103 %
104%
109%
109
109 %
4
107
110
3s
Anglo-Chilean Nitrate deb__
Arbor
Ann
.1967
Jan
4s.__________.1995
1st gold
Q-J
Ark & Memphis Ry Bdge & Term 5s 19G4
Armour & Co (Del) 4s B____
.1955
sink
.1st
7s
fund
income
116
4s series
(Del)_1957
C
debenture.*....
1978/
Atchison Topeka & Santa Fe—
General 4s
Adjustment gold 4S___
63
10
68%
69
86%
69
M-S
86%
117%
N
1995
___
4s._._._._^_i_.._i____1995
gold 4s of 1909___________1955
of
Conv 4s
1905
Trans-Con
Atlanta
1st gold 5s—
Charlotte
&
..I960
1946
Line
Air
Guaranteed
F-A
106%
106
106%
17
106%
106
106'A
8
A-0
115%
114% 115'A
42
112%
70
121% 122%
122%
106%
110
110
1
106)4
109% 110
22
108%
1st
unified
General
&
coll
N
113
-
1964
:
110'/a
1S52
Oct
J~D
103
88%
243
69
89%
165
102% 103
40%
42%
37
37
J-J
35
34%.
35%
16
33%
MS
•
105%
105% 105%
105
15
1st
A-O
86%
gold
mtge
1
Oct
(int
Ref & gen
ser
164
92
73%
Ref & gen
'■
J-D
50%
48%
__1995
J-D
54%
52%
F (int at 1% to
due
—.+-1996
ser
Feb 11960
due
Pgh L E & W Va System—
.;
Ref gold 4s extended to____1951
S'west Div 1st M (int at 3%%
to Jan 1 1947) due
__1950
,
Toledo Cin Div ref 4s A
'
1959
cons
gold 4s
4s
5s
41%'
37%
36%
38'A
406
31%
81%
78%
81%
115
64
mtge
111
inc
inc
&
72
70%
72%
238
J-J
80%
78
80'/a
74
86
86
—1950
&
gen
5s series A
gen
6s series B__
86
14
86
86
7
*52%
__
1968
J-D
101
101
101
A-0
106%
106
106%
_1959>
-I960
Consol
mtge 3s series G
Consol
mtge 3'As series H„—1965
..1944
J-J
105% 106%
F-A
102% 102%,
F-A
105%
105% 106
J-D
1967
m-n
4%s series JJ
—.1961
1st mtge 4s series RR„
.I960
Alnc mtge 4%s ser A—July 1970
JABoston & N Y Air L 1st 4s
..1955
Bklyn Edison cons M 3'As—....—1966
Bklyu Union El 1st gold 5s—
1950
Bklyn Union Gus 1st cons gold 5s_1945
A-0
series II
5s
lien
1st
&
Debenture
J-J
m-n
98%
*96
":90%
m-n
J-D
101%
m-n
104%
•6
1957
86%
May 1 1989
J-J
84'A
83%
84%
79
76%
86%
May 1 1989
tChic Milw St Paul & Pac RR—
J-J
84%
85%
62
77%
87%
54%
58%
1.401
45%
59%
954
4%s
series
E
4%s
series
F
A
Mtge gold 5s series A
adjustment
1975
f
M-N
A-0
1987
Fed Inc tax.
p
stpd Fed inc tax__.
ref
A Conv
1st &
106'A
2nd
AGeneral
4s
109%
-.11
103
104%
11
108
83% ; 90%
103
94%
102
20
103%
107
111
109
44%
56%
26%
26
21%
29
26
10
21
28
93
1960
A-0
37
J-J
80%
89%
1968
3'As.
A-0
California-Oregon Power 4s______.1966
A-0
Canada
A-0
103%
81
8
69
82
93
7
86
93
Southern
ifiv.r
cons
footnotes
see
gtd 5s A—1962
page
103% 103%
108
102%
108
101% 102%
101%
1
107%
109%
20
95%
102%
>• 95
80
67%
'/■;
773/4
40
81
96
*
613/4
61
58%
23
'49%
13%
14%
656
11%
17%
103% 104%
279
1013/4
1043/4
63%
66%
1,146
63%
66%
69
69
67%
01
w
5s
i
58'/a
•
M-N
1999
104
J-J.
stpd
.1927
F-A
■
14'A
J-J
66%
H'-
;
^
—
J-J
68%
70
*
1934
A-O
41%
m-s
1952
46%
M-N
39%
45%
;
*97
J-D
186
61%
68
73
512
36 %
45%
J-D
46%
52
9%
99
100
39%
51%
8%
11%
95%
85
■
82
2
64%
02%
83
7
72%
04%
73
73%
82
82%
82
M-S
Dec 11960
75
90%
*81
J-D
42
84
8%
9
J-D
1960
5s
70
75
1951
1st
1
60%
•
1988
73%
41
59%
77
1
oi deposit....^
series E
#■
1963
'
59
74
.
•
74
.
Cin Union Term
J-J
1963
4s______1952
105'A 105%
J-J
107%
107
M-S
105%
105% 106
-A-O
80%
.•.'__1957
1
-
.
M-N
3 Y*&
1960
1967
J-D
5s+
gtd 3%s D_+._1971
1969
.
gold 4s
5s series B
.i.i.1977
.
J-J
.4Si.___^+1991:;$iu JrJ :
- ■
K-iV
1st call Lr gold 4s___..1990-
1
105'A
104
107%
104%
106
80%
38
55
79'A
15
53
66
11
59%
2
108 %
109%
111% 111%
3
110
E
111%
110'/a 110'A
1U%
6
109% 111
98
48
741/3.
78
331
70%
69
71%
95
93%
95
♦100
77%
•-
•
82%
70
88%
99
99'/a
97%
-98
82
112%. 112%
*112%
_il9®3.J m J-D
Ref & impt 4%s series E+
Cin Wab k M Div 1st
J-D
102%
13
56
109% 109%
F-A
1993
110%
66
66
" M-N
1st mtge gtd 3%s series E
Cleve Cin Chic & 8t Louis Ry—
7
109
78%
F-A
cons
107%
23
79%
A-O
1952
;
1st
110% 110%
110%
^.___^_._1943
deb 5s
5s
J-J
"
1962
com
1st mtge 3 % s_
St L Div
95
•
Station—
Cincinnati Gas & Elec
-
93%'
■*'
57
2104.
-
deposit.
tAChoctaw Ok & Gulf
103%
21
79
67%
15
-
J-D
ref 4%s series D
Co
67%
54
'J'";'
49%
1st mtge 3%s series F___
t§AChilds
77%
28
gold 4s
1st mtge 3%s
*
30
78%
79'/a
77%
.
93%
80%
*
1st
guaranteed 5s
-§ ADebenture
90%
A-0
77'A
77%
79'/a
■
1951
Union
77%
58%
...
of
ACertificates
76%
65%
5
7614
567/a
3%s
Income
;
109%
157
56
76'A
;
—
58%
Memphis Div 1st gold 4s
Chicago
78
65%
J-D
A w i——1989
Chic T H & Southeastern
112%
6
•
75%
65%
__1
50
§ASecured 4%s series
112%
36
*
■
82
A Conv gold 4%s.
i960
Chicago St L Si New Orleans 5s__._lS51
Gold
64
39
■
59%
...
ACertificates
10
Y
_
57%
tChicago Rock Island & Pacific Ry—
100
75
76%
59'A
.1949
ser
Railways
Paid
part
-■
.
^
'
May 1 2037
C
mtge 4s
gen
76%
J-D
4%s series A
tSAChicago
104
108%
111%
4%s
17%
64
May 1 2037
May 1 2037
mtge conv income 4%s
9,d%
32
73
75
M-N
n
&
63%
93
75%
11%
1
A 1st
:
58%
25%
76%
M-N
gold 5s
4%s stpd
52%
25%
M-N
78
25
'
M-N
ref
41%
25%
75%
1987
ref
8
53%
15%
74'A
1987
&
170
101% 102
104% 105
55%
14%
75%
1987
&
90%
111
15%
M-N
4s
5 A Refunding
111% 112%
F-A
A-O
registered...
4s
57%
1987
registered
AGeneral
/
--
F-A
Jan 1 2000
5s
A 1st
52%
83%
69%
76%
A 1st
59
74%
20
229
106%
101
168
76%
101
92%
98%
80%
84%
100
25%
—1955
Power
80%
14%
75%
General
Elec
79%
14%
100
83
100%
106
63
10%
r.
M-N
104%
67
45
■
:_i.+1936
105%
.
47%
97
35
■
87
J-J
General
California
11%.
,
1st
———1952
5s
61%
11%
12
6%s__..__„_i;
,,
Consolidated
65
58%
98
4%s
Chic & West Indiana
Bush Term Bldgs 5s gtd——
60
63
61
M-N
s
J-D
deposit——;
Bush Terminal 1st 4s
71
76%
at
^Burlington Cedar Rap & Nor—
§ A 1st & coll 5s
i.—_——1934
of
60%
50
11%
M-N
Buffalo Rochester & Pgh Ry—
Certificates
47
22
64%
M-N
88%
103 3*2
1957
1981
Buffalo Niag Elec 3'As series C—1967
A
55
84%
*102'/a
m-n
1950
Buffalo Gen Elec 4%s B
•
59%
68
97%
1987
108% 109'A
F-A
1947
Stamped .modified
(interest
3% to May 1, 1947) due
57
68
98
.1987
57%
109'A
gold 5s_
1—
59%
68
J-J
_1987
101%, 103'/4
88
..1956
5s
104%
63%
127
76%
56
10%
4%s stpd Fed inc tax
100
48%
125%
86%
31
AGen
51%
.
58%
ref 6s series A
1st lien & ref 5s series B—
4
*103% 104
F-A
m-n
20
.
103.„
m-s
—1955
& Maine 1st 5s A C
M
1st gold
1
41
115
56%
__
11%"'
AGen
101
105%
107%
11%
A4%s stamped
100%
109
84%
92%
11%
86
5
101
98
171
149
J-J
129%
101
105%
J-J
51%
128
10832
May 1960
86
9
A-0
1st
52%
85%
106%
103
64
107% 108
♦126%
M-N
74
128 '/♦ 128%
128%
100%
104% 105
86%
30'%
10611
103
61
\£;
,107% 107%
56%
J-J
73%
98%
102
J-J
72%
4
103
May 1 1989
80%
100% 100 Va
1952
Boston
*105%
106 iS 106
M-N
J-J
4s series A__
May 1 1989
gold 3%s series B__May 1 1989
AConv
57
35
Ry—
tChicago ti North Western Ry—
AGeneral gold 3'As__.
56%
21%
1.425
106% 106 aft
107%
J-J
1982
1983
A
49%
85%
J-D
.——1956
—;
M-S
2038
Louisville
&
1st
30%
*106%
1997
mtge 4%s_.
Ind
3%s
debentures—^...—
Big Sandy 1st mtge 4s
106II
RR—
(conv)
AGen
82
J-J
96%
19'%
C
41
m-n
101%
72%
series
53%
J-J
Consol mtge 3'As series F
106 3?2
J-J
..1958
A_
AGen
Beth Steel 3%s conv debs
2%s
26'A
J-J
1949
series
Eastern
&
AGen
133
100
*121
29*%
,_1949
4s_____^
ref
AGen
50%
28
101
__
Division
Chicago Ind & Sou 50-year 4s.
53%
A-0
2'As
J-J
A-O
ARefunding 6s ser A___
.__1947
J-J
A Refunding gold 5s series B_i_1947 ^
j_j<
A Refunding 4s series C
___194Ta-J*
58%
49
108
74
*123% 125
104%
46%
50%
105%
96%
8
75
100
107%
241
M-S
35%
326
96%
*73%
100
F-A
54%
F-A
37%
100
119
105%
92%
-F-A
50%
41
Telephone of Pa 5s series C_—1960
Loan
102% 108
96
1977
53%
234
A-0
Indus
104
108
1971
&
41%
49%
1951
Beneficial
105'%
A-O
1949
gASecured
Bell
30%
108%
F-A
___1949
registered-.
registered
257
48%
J-J
Battle Creek & Sturgis 1st gtd 3s__1989
Beech Creek Extension 1st 3'As
26%
106%
F-A
1989
Chicago Si Erie 1st gold 5s
Chicago Gt West 1st 4s series
92%
49%
1951
______—
27%
10
J-J
1st
AStpd 4s
stamped
13
393/4
29%
34%
108'A 108%
93
30
156
J-J
Div
AGen
105%
M-3
—1951
ref 4s_
4s
31%
108%
1989
A
Chicago
,
Con
31
*23%
A-O
1st & ref 4%s series B
Si Aroostook RR—
Bangor
55
J-J
1946
&
AGen
(int at 1% to
due—.
_2000
Sep 1 1946)
A Conv
34
121
Ref & gen ser D
Sep 1 1946)
36%.
33
tChlcago Milwaukee A St Paul—
1995
due_
34
34
83%
56
123%
(int at 1 Vi%
C
1 1946)
Dec
to
89%
92
112
36%
1st
to
due
1946)
1
July 1948
(int at 1%
J-J
30%
111%
93
120
...
A
i
23
27%
90%
121%
to
A-O
27%
*111% 111%
93
16%.
56
109%
5%s A
A 1st
4%
due
1946)
Ref & gen ser A
Dec
at
27%
A-O
J-J
16%
11%
50
137
Stamped modified bonds—
1st
41
51%
106%
106%
70% 5 8m
211
89-
*51
132%
JChicago
89
12
11%
J-D
3
t;
-July 1948
91%
50%
11%
18
4s
RR—
mtge gold 4s__.
37%
20
11%
16
General
B
& Ohio
67
12'/a.
43 %
12%
108% 108%
AGen
Baltimore
44%
80%
108'A 108%
36%
deb 3s___._____1953
68%
79%
63
44%
J-J
t A Chicago & Alton RR ref 3s_____1949
Chicago Burlington & Quincy RR—
43
1948
53
31
63
79%
M-N
106
103%
136% 136%
89 %
41 :■
63
67%
103%
101%
F-A
103%
J-J
52
2
29
M-N
101%
_1948
66
M-S
106%
90%
86%
88%
M-N
104%
66
104% 104%
*102% 103%
1990
Illinois
5
156
107%
105%
1992
Prod
Illinois division 3'As
101%
100
105
a-o
...I960
2d consol gold 4s
113
106% 106%
101%
111
110%
66,
104%
4-0
1940
104%
109%
F-A
1951
98
112%
110% 110%
*__
J-D
1943
impt mtge 3%s D
&
3'As
M-3"
103% 104%
*108
110%
J-J
impt M 3'As series E_____1996
110%
110%
100%
R
110%
113
11
104%
F-A
.i960
Chesapeake & Ohio Ry—
General gold 4%s
J-D
M-N
4'As A
gold 4s
113
105%
104
M-S
Ry—
Atlantic & Danville Ry 1st 4s
Second mortgage 4s
Atlantic Refining
J-J
104
Potts Creek Br 1st 4s__
109%
*110% 111%
*105
__1963
4s
cons
J-D
J-D
16
J-J
Ref
109%
♦110%
104
111%
194a
110
J-D
95%
101%
M-N
HO
M-N
84 %
100%
Certain-teed
106%
Nov
110%
1942
123
AO
114%
§ A Central RR & Banking 5s
stmp
115%
118%
105
105%
111%
1
1959
5s„.
25
118
15
M-N
1st ref
gold
117%
45
M-S
_____HIl987
____I~1962
3%s
115%
94%
95%
100% 100'/a
j-J
gtd«gold 4s_1949
Through Short L 1st gtd 4s_____1954
87
104
J-J
July 1952
mortgage 3%s____
Atlantic Coast
L
1910_______
Short L 1st 4s_._____1958
AM. Knox & Nor
1st
-_.____1955
gold 4s of
Power
119
15
110% 110%
M-S
Ref &
1995
Stamped
Conv
y
117
113% 114%
.1987
registered
116
116% 116%
J-J
1987
Pacific
69%
76%
102%
1
*104
4s
Central
118
8
28
119
95%
1959
4s
116
High
113%
105ft 107
110'%
1945
registered
22
117% 118
J-J
1948
Light 3'As
118
118
25
F-A
1962
B
u^w
116%
3
J-D
1981
5s series C
Central
■
Conv
F-A
1955
5s
gen 5%s series
AGeneral
M-S
deb
116%
1950
w
JJov
Illinois
5s
t"
.:
M-N
Co
Tobacco
A-0
118
January 1
NO.
1U0%
119
New Eng 1st gtd 4s__.___196l
tACentral of N J gen gold 5s_____1987
110
J-D
1962
conv
119
tACent
Wat Wks & Elec 6s series A...1975
Amer
Am
J-J
J-J
i860
AChatt Div pur
money gold 4s
AMobile Div 1st gold"5s____
U
1966
...
& gen
33
103% 103%
105 ft 105%
103'A
J-J
w
mtge 5s
&
'loo fa
J-D
1965
gtd gold 4s
3'As dobs
Corp
ARef
106
86%
Corp 5s
&
1970
19*9
Ohio 4s
1st
A Ref
78
104%
Gen
5 A Consol gold
102'/a
1
94%
&
*106
Range Since
Sold
High
117% 117%
1969
1954
5s
trust
Adir
A 1st
102%
176
106
A
103
J-J
1944
+
Celotex Corp 3%s debs.
ACent Branch u P 1st
gold 4s
JCeDtral of Georgia Ry—
,
Telephone & Telegraph Co.—
3'As
A
..1951
Foreign Pow deb 5s.___.__.2030
Amer I
121
102% 103
A-0
Alleghany & West 1st gtd 4s
Allied
102%
it
ti
Celanese
101
gold
Clinch
Carriers
//'y, Y.a,,:'
modified
5s
trust
trust ctfs
4 %s.
tSACttiolioa Central 1st gtd 4s
104%
'
;5s
equipment
Coll
100%
J-J
1969
1931
4%s
104%
104%
89%
-
1
„
1-310
Bonds
Friday's
or
1955
4'As
gold
5s
108%
89%
gold
1957
perpetual
74%
107'/a
3
96
6
Week's Range
Last
-
Low
Canadiun Northern
Ry deb 6%s___l946
Can Pac Ry 4% deb stk
109
103%
"l
102'/a 102%
'
100%
Y
__
108
95%
"
103
5
MrN
Albany & Susquehanna RR 3'/2S_..1946
.
103% 103%
103
68%
10
72
1972
3%s_
mtge
J-D
109
73
71%
'
■■
1967
.1946
Alabama
Alabama
J-D
1948
York
Teletype—NY
Sale Price Bid & Asked
1955
4%s
Guaranteed
1953
Coll trust 4s of
gold
Guaranteed
Companie*
Express coll tr gold 4s
Friday
Interest
National gold 4%s
Guaranteed gold 5s
July
Guaranteed gold 5s
.Oct
Guaranteed gold 5s
72%
59
4
F-A
AStamped
t,
.
Stock Exchange
Canadian
JAbitibi Power & Paper—
Adams
New
Period
71
70
71'/a
Exchange
Bell
72%
71
Stock
DIgby 4-4933
BONDS
^ '
*64'/2
71
York
.
90
New York
1958
....
91
New
Broadway
Telephone
...
.1958
external 7s
assented
Railroad
'
.
conv.
4-4%-4%s extl
A4 Vis
*87
bonds of 1937)—
($
■-
89
Members
•
61
10
readjustment
AWarsaw
23
~4
External
,
17%
11
2IV2
External
3a/4S-4-41/»s
12
21%
F-A
T.
16%
25
*15%
J-D
f 5l/as
s
m-n
____1958
—_______1958
% s assented—
Sydney (City)
a
extl_„
of)
(Prov
request
35%
■
A Silesia
WRITTEN
on
39
"
5
61
16%
•
—
m-n
Prospective Prices of the
New Railroad Second Mortgage Income Bonds
44
39
10
43 '/a
*36%
*35'/a
/
A Discussion of the
40
33'/a
Vo
(Kingdom):—
external
secured
1
42%
-J-J
1940
38 %
*40
J-J
m-s
1968
«
Croats & Slovenes
Serbs
J-J
1950
dollar loan
5 a Secured
m-n
1956
loan—
water
extl
;
1930
external
A 7s
f—.—__4_1957
s
Hiah
.
New Yqrk
"Friday
1C!)
57%
78
81
53%
72%
66
82
95
-
.
BOND RECORD
NEW YORK
MAY 19
RANGE FOR WEEK ENDING
Pittsburgh RR—
&
C
37as
gtd
D
3 7aS
gtd
gtd
1st 8 f 5s series B
1st
A
Cigar
Consolidated Edison of New
A
>•
A
Curtis
receipts
extended to.
receipts.—.-.
Publishing Co 3s deb-
114%
103%
Gold 3%s
Joint
M-S
A-O
59
A Adjustment
46%
58
A 1st
5s
111
110%
*111
112
111%
111% in%
108% 108%
109% 110 y4
*102
102%
5
107%
10
108 y2
99% 100%
104
A-O
100%
J-Do
3-J
*69%
55%
*61
48
~1
68
1970
Mackinac 1st lien'gold 4s 1995
A Second gold 4s—
—1995
Detroit Term & Tunnel 4'/2s
1961
Dow Chemical deb 2'/4s
-—1950
Dul Miss & Iron Range Ry 3%s—1962
Shore & Atl gold 5s—1937
Duquesne Light 1st M 3%S—
1965
f § A Dul Sou
Va
East Teiin
Auto-Lite 2V4s debs
—1970
3'/4s
Elgin Joliet & East Ry
El Paso & S W 1st 5s
5s
1950
1995
1950
gold 5s
1st cons
(NY)
Ed El 111
Elec
1948
Nor Div 1st 4s
Va & Ga Div 1st 5s
Ry Minn
1965
1965
stamped
—1962
3y2s—
Empire Gas & Fuel
Erie Railroad Co—
1995
2015
series B
mtge inc 47as series A
1st cons M 4s
AGen
1st 4s—.—1947
3y4s
1971
Erie RR extl
Ohio Div 1st mtge
N Y &
A 1st
A
A——i—.1974
5s series
& ref
deposit
of
Certificates
92%
'
105%
Kanawha & Mich 1st gtd gold 4s,_1990
92%
341
106 y4
12
of
106 y4
50 %
65
45
impt
5iy2
3
46
56
5%
44%
75
-
A-O
M-S
J-D
49%
105 5/s
Kresge Foundation 3 %
111
JAKreuger & Toll 5s ctfs
110%
~8
105% 105%
30
~1
54
28
103% 104
65
98 7a
107
1087s
24%
38%
1087s
31
110% 110%
1949
—1949
Oct 1 1945
f§AGa Caro & Nor 1st ext 6s
1934
Goodrich (B F) 1st 4V4S———1956
Grays Point Term 1st gtd 5s
1947
Great Northern 4y4s series A
1961
General 5y2s series B
—1952
General 5s series C
:—
1973
General 472s series D
1970
General 4y2s series E
-1977
General mtge 4s series G———1946
Gen mtge 4s series H
1946
Gen mtge 3%s series 1
1867
AGreen Bay & West deb ctfs A
of Berg Co cons 5s
110 3/4
106
A 1st
J-D
10274
~4
103 74 10374
M-S
106%
*106
A-O
987a
A-O
95
967a
95
.
103 74
106%
2
:
99%
stamped
5s
1st
102 V4
& ref sink fund 5s
stamped
5s
"
J-J
68 74
70%
M-N
*104
M-N
.
.
.
•
;
'
.
.'
105
J-J
1047s
102
103
50
51%
51 7B
51
51
13
„
987a
4274
registered,,,,,,,,—__,,2003
42
J-D
M-N
100
1174
117a
104
987a
98%
.
5s
Little
6
inc 5s series A—
Gulf & Ship Island RR—
1st & ref Term M 5s stpd
AGen mtge
series D
Gulf States Util 3V2s»
977a
50
103% 104
103%
J-D
28
*61%
1374
-
987a
4s
Houston
Oil
4Vis
Hudson Coal
Hudson
Far
Co
Ry
1st
Gas
cons
debs
s
f
1st
footnotes
gold 5s
5s
series
A
1st
& ref
105%
1077a
1st
&
101%
41
1st
687a
1017a
2003
,.2003
,.2003
1st & ref 33/4s series E„_^„..,.r_2003
111%
Unif
109% 110%
35
10874
116
115
1157s 116
1057a
116
J-J
1137a
1077B
1097a 1117a
107
108
90
75
100
J-./
58
102%
75
1027a
109%
J-J
116
104 %
103% 104%
J-J
102 74
1027a 10274
J-J
1007a
99% 1007a
Feb
66
*13%
„
J-J
J-J
1852
1969
M-N
.
14
.
85
87
J-J
*97 Va
44
27
87
see
page
J-J
M-N
927a
M-N
1037a
2104.
J-D
M-N
series B
472s .series C__
127a
89%
66
98
St Louis Div 2d
Mob
110
&
Montg
gold
.South Ry joint
1047a
677a
__
—
90%
927a
-103 7t 103 7a
..
667a
*H6
1
133
68
11774
.
130%
53
8574
7
104
103
3s_i—
monon
Atl Knox & Cine Div
10374
1980
1st gold 472s.,..,1945
100
103
747a
867a
90
114
77%
90
3
76
4%
47a
5
81
96
587/a
81
99% 101
307
95%
101
98%
100
78%
*100%
A-O
A-O
37
84
82%
84
a"o
86%
;
72%
85
71%
103
6974
87
30
72%
17
107%
109%
114%
119
108%
108
1087a
J-J
20
86
85%
87
J-J
82
84
85%
J-J
*118%
*67
70
*97 7a
98%
*98%
87
69
91%
J-J
86%
517a.
J-J
J-J
J-J
97%
98
98
907a
94
'
*94%
A-O
175%
174
*175 7a
1077a
1087a
1107a
5
106%
107%
102% 10374
,12
10274
104%
3%
3 %
1087a 108%
1087a
J-J
108%
107% 107%
J-J
*109'/a
M-S
M-S
10374
M-S
-
87
98
11174
133
927a
105%
56
70 y2
116
1177a
99%
100%
34
98%
100
99%
99%
6
98%
100
98%
98%
19
937a
94.
94
2
89%
94
61%
617a
1
58%
67
103
103 74
28
977a
104
103
10374
3
97
10374
5
10074 10074
99% 100
99%
99%
J-D
98%
J-D
—
Dec
103
98%
!
*90
F-A
4?
4s!
—1952
—1955
V'"
•'
,
86
94
71
14
80
79%
i.
98
86
847a
93
*91
*79
F-A
103 7a
95
99
*97%
--
1007a
1
103
103
A-O
M-S
75
,
807a
6574
3-J
43%
65
78%
80
56
69%
76%
1
647a
807a
318
33
44%
—
—
37%
/,
39%
36
38%
37
M-N
22
67%
76%
67%
M-N
76%
777a
66
*75
__
F-A
70
76%
F-A
37
42
447a
43%
13
34
136
37
487a
357a
46%
40
M-N
A-O
74
;
40
49%
50%
51%
69
74%
63
64%
78
6
1237a
126
1047s
107
73%
5,(
125% 126
A-O
*104 7a
J-J
—
4274
;;57
:
1027a 1027a
120 74
~4
102%
104 3\
9
12074
12274
105
1037a
F-A
120% 120%
104
A-O
1037a
*108
M-N
'
".
A-O
M-S
10574 1057a
15
104
105%
1105%
105% 105%
28
104
105%
119%
119% 119%
2
99%
103% 103%
99
99%
82
93%
M-S
109% 109%
15
109 7a
110
M-S
101% 1017a
3
1017a
1027a
9
106%
108
104
10774
M-S
10574
M-S
F-A
A-O
'
J^J
A-O
w.
106% 107
10
11974
120%
102
103 7a
99%
A-O
10674
105% 106%
54
A-O
104%
104% 105
47
A-O
1027a
102 7a 1027a
102% 103%
28
9474
1057a
102%
56
1027a
10474
1077a
8
J-J
J-J
1077a
F-A
...
M-S
107
M-N
107%
104%
98
104
104% 105
34
113
1
113
1067a
94%
97%
*103%
105
997a
103
*103%
*96%
M-S
3-J
104
1017a
1057s
112
113
M
66
17
1007a
4
*3%
A-O
F-A
F-A
1007a
,
Gen
99
3-D
9$'
97
9874
38
1960
3-D
67%
65
67%
43
52
67%
1957
M-N
77;
75%
7774
29
68%
777a
mtge 472s series A_„
sink fund—Feb 1
A Manila Elec RR & Lt s f 5s_— 1953
1959
AManila RR (Southern Lines) 4s
Manati Sugar 4s
t§AManitowoc Green Bay & North¬
1941
western 1st gtd 372s
u
1947
Marion Steam Shovel s f 6s
M-S
*57%
m-n
*34%
J-J
86
86
102% 102%
A-O
A-O
:
„
ext 5s
McCrory Stores deb 374
■
1
98
997/a
80
572s
1945
Q-A
A-O
105% 105%
9
1960
M-S
110
110%
12
1950
A-O
927a
3
99%
927a
73
101
86
102%
101% 1027a
1955
... —
Metrop Ed 1st 4 72s< series D
Metrop Wat Sew & Drain
12
*102%
Market Street Railway—
(Stamped mod)
90%
series A...,. 1943
Maine Central RR 4S
Stamped
133
__
1937
1962
5s
108
__
*'110 7a
„
•
65
5
66
9974 1007a
—
91
ref
ref 4s series D
1117a
987a
313
&
mtge 372s series A ext.—^1950
Unif mtge 4s series B ext.
..I960
Paducah & Mem Div 4s__—..1946
116
1157a
28
4
11174
J-J
J-J
97 7s
1007a
166
Louisville & Nashville RR—
32
J-J
1949
gold 5s
5s___,,1951
debentures
22%
*10278
__
1954
-
—
.,1949
1949
48
8
—
H
AHousatonic
^,0.,
stamped,
Lprillard (P) Co deb
10174 104
23
28%
64
105% 106%
105%
J-D
1975
2015
Hocking Valley Ry 1st 472s__.——1999
1950
1949
Long Island unified 4s__
.Guaranteed ref gold 4s_,--
1037a
103
98%
14
J-D
Feb
Ohio 4s series B
—1951
Miami-gen 4s series A
..,1962
debenture
1S63
Louisiana & 'Ark 1st 5s series A
1969
Louisville Gas & Elec 372s_
—.1966
Lou & Jeff Bridge Co gtd 4s
—1945
—
Gulf Mobile &
1955
7s__—1944
Libby McNejl & Libby 4s
Liggett & Myers Tobacco
56
32
13
*103
—
—
B
—2003
modified
Lehigh Valley Terminal Ry ext 5s_1951
1st 50-yr 5s gtd_—1965
59 %
5
13
13
3-J
ctfs
5s
1954
____1954
1964
1964
1974
1974
1954
Long Dock Co 33/4s ext to—
M-N
J-J
ADebentures
1965
1945
Lex & Eastern
130
117
23
105
9974 100
100
M-S
102
*12774 130
—
J-D
22
*102% 104%
__
1
10
867a
87%
4%
J-J
Y 47»s ext
1950
Lehigh Valley RR—
'
-V
4s stamped modifiedw_..w.-._.,2003
4s registered,
.*,.^..i.....l.2003
472s stamped modified
2003
106 7s
—
1035/s 104
„
85%
84
90
.
106
102
..
'
M-N
100
1007a 101
J-J
Lehigh Valley N
75
64%
131
707a
*10674
M-S
105%
101%
154
104% 105%
105%
J-J
—
i
stamped,
5s
1st & ref sink fund 5s
97
80
2
"
Lehigh Valley Coal Co—
1st & ref sink £und 5s
Leh Val Harbor Term gtd
J-J
108 V*
101
M-S
1975
1954
Lehigh & N.Y 1st. gtd gold 4s
987a
827a
33
987a
95
102 74 102 74
J-J
150
106
*150 7s
113%
14874
"4
111% 111%
J-J
105
M-N
C—i._1954
mtge income reg
sink fund 4 72s series
Lehigh & New Eng RR 4s A
1077a
110
*106% 107%
M-N
16
Lautaro Nitrate Co Ltd—
Cons
A-O
1961
.1950
1959
C
series
5%s
Lehigh Coal & Nav s f 4 72s A
5 Vis—
Castings
,
1943
1953
Coll & ref 572s series D_.—:_„.1960
Lake Sh & Mich Sou ^old 3Vas^
1997
372s registered
1997
ref
&
Coll
102%
1
107
102
*38 7a
tAGeorgia & Ala Ry 5s___
Steel
notes,.
extd 5s
Laclede Gas Light
34
104
2
102% 102%
J-J
1077a
106 y4
41
54
30
110%
3
107
107%
111%
104%
111
107
Koppers Co 1st mtge 372s___...
40%
109%
16
*50
J-D
J-D
M-N
M-S
A-O
J-J
1st 5s
__
110% 110%
*—
Kings Co Lighting
1st .& ref 67aS_.
6%
3s
Gas & Elec
..,1987
i
1961
.,1961
.,..1961
,1961
...1997
1954
1954
unguaranteed,,
102%
*105%
tFonda Johns &
Gen
1st 4s.
City Term
47as
8
4ya
77
43%
5
•27
4%
44%'
6574
1037a 103%
1057a
81%
1950
Apr 1950
__1960
5s—
Plain
55
4%
110%
5774
103
:
Stamped
5%
,
Glover RR—
(Proof of claim)—.
-1982
ACertificates of deposit
—
Food Machinery Corp 3s debs—1956
Francisco Sugar coll trust 6s
-1950
__1936
deposit,:
Kentucky Central gold 4s_.
Kentucky & Ind Term 472s
92%
105%
4 Vt
M-3
5774
43 74
131
& Mem Ry—
City Southern Ry 1st 3s:
&
.Ref
108
Kansas
5%
A-O
24%
43%
56
81
Kings County El L & P 6s_..
F-A
16%
56
100:
Scott
§ARefunding gtd.4s
51%
J-J
J-J
61%
131
51
;"
100
J-J
•
J-D
JKansas City Fort
49
50%
47%
52
101%
100
79%
90%
106
106
1037s
114
60%
M-S
106%
101%
48
58%
J-J
Kansas
—
§A2-4s
47
59%
1961
5s stamped
Rub. 3s deb—.;—1961
debs
,
—,
1958
t AFlorida Cent & Peninsular 5s„_1943
IFlonda East Coast 1st 4y2s
—1959
Flintkote Co 3s
48
A-O
1959
4 %s
Firestone Tire &
J-J
1107s
104%
23
487a
1st 4s
& Laughlin
Jones
E
East
467a
Steel 374s
53
40
*
*
F-A
ref 3s series H
&
Gen
48%
James Frankl & Clear
58%
*
1107s
«
207a
J-J
62
44
K
50
101 %
101
107% 107%
A-O
•
18%
*61
101%
J-J
J-D
M-N
v
207a
687a
103%
72 y8
39
"2
70
48
—
[
*102 7a 102%
A-O
F-A
Debentures. 5s
33 '■
60
58
•
72%
52%
987a
54%
41
18
71%
55%
55%
3-D
38%
62%
47%
176
53%
1952
1955
1951
Int Telep & Teleg deb gold 472s
62
687a
50%
F-A
100%
5774
53
1972
6 7as
ref
364
105% 105%
J-J
&
93
72
*110 7a
——
1947
lien
77%
78%
67%
63%
A-O
JAIowa Cent. Ry 1st & ref 4s
103%
95%
46
53%
48
47
47%
102 %
2
477/a
J-D
series A
Int Rys Cent Amer 1st 5s B;
1st
6773
"I
1955
Hydro El deb 6s_„
Internat Paper 5s series A & B
111
11
927a
1944
1947
B
Internat
103%
109%
M-N
M-N
77%
J-J
July 1952
6s- series A
Ref sink fund 6s
6
72%
1956
gold 5s series C_.
109%
109%
108% 109
108%
59 y4.
108
87
72
65
„1956
45%
45%
59%
*53
M-N
—
Detroit &
60
Copper 4s_^__.__1952
CAInter-Great Nor 1st 6s series A.1952
Cons
A 1st
1970
1947
J-J
Inspiration
*47
-1978
1956
tAInd & Louisville 1st gtd 4s
series
72
597s
*100% 10374
105%
,
90%
73%
67%
J-J
103%
A-O
impt 5s series B—
J-D
,_1950
11
1
79 74
75
71%
104% 105 y4
J-J
Dayton Union Ry 3V*s
Delaware & Hudson 4s
A Ref &
J-D
Indianapolis Union Ry 372s ser B_1986
Inland Steel 1st mtge 3s series F__196l'
15
,
(
1963
A
108%
54
64%
100
97
5
"vv,
76%
107%
52%
90
927a
107%
52%
78
,6774
,487a
46
64%
-
6072
74
474
;
X907a
gold 4s^i
1st
,
87
F-A
105%
53
■
J-J
103% 105%
53
74
J-J
26
J-J
58
86%
,
21
3-J
81%
14
*71%
J-J
29
105
607/a
*72 74
87
F-A
108%
J-D
79%
200
1951
1951
1st & ref 472s series C
& Iowa
65
8174
99
!_1963
ref 5s-series
1st
2
62%
_,,_1951
L
i
63
60%
63%
108
3-D
fADes Plaines Val 1st gtd 4y2s
Detroit Edison 4s series F
1965
Gen & ref mtge 3y2s series G—-1966
3s.___1951
;
79%
727/a' 74 V f:
-
•
111 Cent and Chic St L & N O—
D
A Assented
F-A
65
...
8074
J-D
107% 107%
IIl955
series B—1965
extended—-1963
Delaware Power & Light 3s_—1973
f Denver & Rio Grande RR—
§ A 1st consol 4s—
193b
fcAConsol gold 4l/2s——
1930
tDenver & Rio Grande Western RR—
AGeneral s f 5s
v
1955
90
10378 104%
IZl940
L 1st mtge 3s,—
78;'
85%
3-J
•ACertificates
Dayton P &
75%
89%
gold 3s,__,L-_„1951
113%
101%
78
M-N;
__^.,1951
1st
Div
Western Lines 1st gold 4s^
2
M-N
64
77:;
:
J-J
:
111
110
74
1966
1950
;
.Springfield Div 1st gold 372s
109%
*102% 103
48
series B
40-year 4%s_—
Cairo Bridge gold 4s
111
1137a
J-J,
1955
109%
109%
807/a
1953
;
St. Louis Div & Term gold
v
1
;
M-N
1952
lines. 37as
131
38
111
7974
97
64
*96%
65
A-O
A-O
IIl946
Deposit
.
96%
M-S
,,.,^,^.1955
105
2
A-O
A-O
debs————1950
Deposit
A
A6s
1st
Litchfield Div 1st. gold 3s
113%
100%.
*97 7a
Omaha
114% 114%
110
J-J
gold 3 VaS.—
Extended
Louisville Div &-Term gold 37as_1953
110
113%
„
111
.
—1951
gold 372s__i—
1951
1st gold 3s sterling—
1951
Collateral trust gold 4s..;l..J
.1952
103%
100
102% 103
103
3-J
3y4s s f debs.
1955
S A Cuba Northern Ry 1st 5 Vis——1942
ADepQSit receipts-:
—
...1952
ACuba RR 1st 5s gold
A Deposit
receipts
extended t
;,.
108 y4
! 110%
111
32%
101%
28
>10178
Ind 111
Crucible Steel
A77as series A
109
114%
3-J
—--1969
27js s f
105%
109
110% 110%
U-N
mtge 3 V'4s
103%
F-A
J-J
Refunding 5s
;
mtge 3%s_...
mtge
1st
69
107% 109
,—_._1370
374s—————1966
1st
Crane Co
104% 105%
3-J
66
27
111'
J-J
Collateral 'trust ..gold 4s
64
105
J- J
29%
1951
Purchased
52
J-D
66
28
j
•.
Refunding
91%
103
*113%
63%
297a
.
131
1981
1st
•
:
44
*110
274s series A
Central RR—
1st gold 4s
95%
83
14
*109
M-N
1st
75%
122
105%
1965
——-1967
mtge 3y2s_
100
84
258
61%
60
May
1956
mtge 3Vis-—
1st
Illinois Bell Telep
% 103%
104% 105
104%
F-A
Power Co—
1st
92
213
-
91%-
M-S
1948
4s—
Debenture
45
95%
91
A-O
1956
3 fas debentures.!——.—
1958
Consolidated Oil conv deb 37aS-—1951
JAConsol Ry non-conv deb 4s
1954
A Debenture 4s—
-1955
Consumers
90%
60%
"
J- J
York—
debentures-—-—T
debentures
3 y2s
3%s
100
96
91%
M-N
1968
—1958
195i
f 33/4S A
1961
3 Vis s. f. debs.1953
Consolidated
J:
*102
M-N
Commonwealth Edison Co—
1st mtge 3y2s series I
Conv debs 3V2s
Conn Ry & L 1st & ref 47as
Conn River Power s
105
Illinois
105
100% 103%
•V
J-D
Apr 11969
deb w w__—..
!
95
—
105
95%
A-O
Commercial Mackay Corp—
Income
100
A-0
extl gold 4s__1948
Sou Ohio El 3yis——1970
Tol 1st extl 4s——1955
Columbus &
103%
A-O
Columbus & H V 1st
Columbus &
105
A-O
1961
Debenture 5s__
106
12
„
A-O
gtd 4s
Colo Fuel Sc Iron 5s inc mtge
Colorado & Southern Ry.—4y2s (stamped modified)
—1980
Columbia G & E deb 5s——May 1952
Coal River Ry 1st
*106%
55%
65%
A-O
High
Low
No.
Hiah
107%
—
J-J
.1973
~ld]l
1945
1970
*
f 4j/2s series C
s
*106%.
January 1
Sold
107
106
*108%
F-A
Feb 1957
Income "'5s.______. J
A Adj
107
F-A
1957
F-A
Hudson & Manhattan 1st 5s A
108%
107%
M-N
1948
1950
General 47as series A,
—,—1977
Gen & ref 47aS series B__
.—1981
Cleve Short Line 1st gtd 41/fes_—__1961
Cleve Union Term gtd 5y2s
—1972
Series
Series
Low
Range Since
Bonds
Friday's
or
Sale Price Bid & Asked
Hiah
106%
21
107% 108 y4
3-J
_.107O
Low
Last
Period
January 1
No.
Hiah
Low
Cleveland Elec Ilium 3s
Sold
Week's Range
Friday
(
Interest
New York Stock Exchange
Range Since
Bonds
Last
Interest
'Period
Cleveland
BONDS
Week's Range
or Friday's
Sale Price Bid & Asked
Friday
BONDS
New York Stock Exchange
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2102
9674
99%
105
106
10974
1117a
92
947a
[Volume 159*
THE COMMERCIAL & FINANCIAL CHRONICLE
Numbef 4283
NEW
YORK BOND RECORD
EANGE FOE WEEK ENDING MAY
BONDS
New
York
Stock
Friday
■'
Low
t§AMet
West Side
El
(Chic)
4s,_1938
1951
Low
No.
gold 3%s_;
& Impt 4%s' series C
t§AMidland of N J 1st ext 5s
M-N
A§Consol ext 4%s
1939
J-D
837/a
M-S
_1941
68%
83%
^Minneapolis & St Louis RR-—
•
A 1st 6i ref gold 4s___L
,,,,1949
A Ref & ext 50-yr 5s series A
1962
1
"
.
•
Norfolk & Western Ry
79
59
10%
77%
5
5
>
7%
1
3%
.
'• t'-.
38%
37%.
38%'
25
29%
39
J-J
39%
39%
39%
8
30%
40%
J-J
38 y8
38y«
11
29%
38%
7%
ref 6s series. A—
A 1st &
—1949
'
6%
5
10
100
2%
:>;
*79%
J-J
68%
85
■
-
68%
72%
''.V;
■
lien
Prior
J-J
60
58 y2
60
J-J
66
63
; ?
66
50%
49%
51%
.
65
61%
65
ACum Adjust 5s Series A—-Jan 1967
^Missouri Pacific RR Co—•
•'
A Certificates
' A
<'t
;
Alst & Tef'5s
■
A-Cextificates
AConv
of
A 1st
ref 5s
&
series
of
ACertificates
65
Monongahela W Penn Pub Serv—
1st mtge 4%s_L—,
Montana
ref 3%s
1st &
Essex
Constr 'M
;-:57y2
•>#'
107
i J-J
M-N
J-D
59
106% 107
95 V*
95%
1947
64 '/a
67'A
190
53
61%
61%
1
51
61'A
215
61%
80%
2047
2047
Prod 3Vis debs—
1960
Nat
Dairy
Nat
Distillers
Prod
3%s__
;
:
&
Pow
103%
Af-N
101%
1st
ref
&
105%
ACertiiicates
•
A 1st
5s
series
125
233
of
,1952
A 1st
series O
5s
ACertificates
A 1st
/
47 y4
4V2S
series
sy2s
ACertificates
of
J-J
99%
Gas
1st <56—
N
Central
Y
Ref
&
Ref
&
Conv
N
Y
77
;;
3V2S
1st
gold 5s:
69
"5
23
Hud
&
61
74%
77
78
6
*
y'j
'
75%
71
ctfs D
1944
Peoria
105%
98
99%
108
110%
110%
111%
'.
110
ill'A
12
1047/a
106%
2
104 ¥a
105 7/a
A-O
4
108
109'A
109%
1
106
105
105
105%
6
108%
1103A
106-
110 3A 110 3A
*99
M-N
106
103
105%
95
■;
—
J-D
1981
,—1968
J-D
'
&
series
56%
71%
996
79
254
63
A'
,—,1965
1968
—1970
:!981
97%
186
87V
93
91%
93%
95
83%
J-J
F-A
F-A
88
87
1998
F-A
109 %
109%
11
105%
107
16
108%
109 7/b
107%
31
106 3/4
109'A
108%
M-N
108'A 108%
4
108
109 7/a
108% 108%
25
108
109%
A-O
104'/a
103% 104'A
79
F-A
124
123% 124'A
7
121
124%
J-D
113'A
112% 113%
49
109
113'A
120
120
120%
28
103%
102% 103%
86
97
110
42
106
M-N
J-D
A-O
A-O
110%
,
110%
J-J
111
110
111
102
102
102%
——1947
M-S
110% 111
A-O
73%
—Apr.1990
4s
Eastern
Apr
33%
Ry 5 %s__—1974
F-A
ext—
—I960
4s__
[1st series A 5s.
1956
B_
series
1956
v—
series C—
—1980
1952
■101'A
115'A
120 %
103%
110%
29
105%
99%
102%
2
11C'A
112%,
72%
73%
17
32%
34%
73
55%
23%
105%
100 Va 101%
104 %
103
*106
J-J
98'A
95
111.
74%'
36%
107
series
J-J
93%
M-S
96%
J-D
94%
96
.97
105% 106%
6
140
95%
101%
87%
94%
82
97
104%
107
131
132
121
24
124
»
B—,——,1974
5s
gold 4%s series C—1977
Philadelphia Co
Electric
coll tr 4'As____—1961
F-A
131
131
*123
1st & ref
3%s——1967
J-J
J-J
109%
M- a*
111'A
1st & ref. mtge 2%s
1971
JPhiladelphia & Reading Coal—
A ref 5s stamped
,—,1973
J-D
J-J
62%
AConv deb 6s_'———,—,——,1949
Philip Morris Ltd deb 3s———1962
M-S
26'A
93%
—1998
107%
106
109%
/V,_
108% 109 ¥a
107'A 1073A
A-O
Generar
97%
J-J
109'A
106
106% 107
■
,1952
3'As__
General
79
96%
■■
106'A
124
9
1
71%
68%
76 r •
97%
—
101%
108
107
F-A
Phelps Dodge conv 3%s.deb,_
Phila Bait & Wash 1st gold 4s—
75%
78%
9
35
*109
J-J
—,1974
B—
1st gold 4%s
82
59,v
J-J
F-A
1948
& Pekin. Union
1st 4s
Phila
525
109%
*104
95
116%
101%
103%
109
106% 106 ¥a
106%
85%
115
115
*101
M-N
F-A
—,1969
3%s
L,
series
Pere Marquette
86
74
8
95
*
/'
*
78
<73%
D,
ser
Peoples Gas L & C ref 5s
Peoria
80
.68%
A-0
—1998
88
26
78%
82
57
69%
82
76
10
65
76
73%
71%
73%
29
62%
73%
70
F-A
67%
3s
88
78%
73%
81%
70
63
2
—1963
debentures ?
tlAPhilippine Ry 1st s f 4s——,1937
ACertificates. of deposit———,
1964
Phillips Petroleum 2%s debs
Pittsburgh Cine Chi & St Louis—
Beries D 4s guaranteed——1945
,
70
108% 109%
111% 111%
59
105%
21
110'A
111%
102%
103'A
*102% 103'A
61'/a
62%
179
25%
27
234
38%
109%
C
>,1978
M-S
98
1947
A-0
4y2s
mtge 3VaS extended
to
Y
Connecting RR 3V2s A
Y
Dock
A-0
.107%
F-A
91%
1965
A-0
108%
ref 3 Vis series E„—1966
A-0
gold 4s
Y Edison 3y»s series, D
lien &
97%
95%
215
98%
101% 101%
1965
—1951
1st
134
103% 104%
87
1
•;
98%
67
102%
Series I
105
107%
Series J
16
91%
125
78%
108% 108%
3
106%
109
109% 109%
8
1081/2
109%
88 VB
gold 5s
1948
Harlem gold 3y2s
Mtge 4s
series A
Mtge
series B
4s
Lack &
West
J-D
1949
Purchase money gold 4s—
F-A
—2000
—2043
J-J
,__2043
—
J-J
—
4s series A—
4V2S series B_—:
1973
i———1973
.
Af-N
Af-N
'
82%
104%
112%
M-N
*113
113
guaranteed 4s—1960
4'/2s
'—
1963
F-A
*113%
113%
113%
115 "
88
ANon-conv
deb
4s_„
deb
3 '/2s
ANon-conv
deb
3y2S——
ANon-conv
deb
4s
ANon-conv
deb
1st mtge 4%s series C„
1-''
52
54
v.67
45%
59%
r'jrtland
J-J
55%
Af-N
,1940
of 1927
,1967
53%
55%
A-0
:
55%
115
53%
56 •<:;
52 '/a
v
54
-
61%
321
4s__
90%
93
28
101
J-D
58%
56%
59
360
Af-N
105% 105%
14
J-D
A-0
prior lien 6s stamp,,
Corp 1st 3y2s_
v
13%
14y,,
4%
66
M-N
63
-
■
4%
J-J
105% 106
1963
J-J
1937
J-J
108% 108%
*39%
48%
1937
F-A
F-A
gold 5s
.,1943
Telephone 3V4S series B___
1st 4'/2s
Niagara Falls Power 3V&S—
footnotes
see
page
2104.
1967
1966
M-S
58%
*107'A
F-A
71%
*121
——1962
—.,—1974
Gen
Elec
18
58
107%
71'A
71'A
107%
J-D
1977
C
J-D
inc deb,—,,,—.—1964
5'A
1st 4'As,——1960
J-J
92
M-S
103
91%
103
J-J
3%s,——I960
92%
35
103%
69
86
99'A
93
104
F-A
——1951
J-J
X A Providence Securities 4s_—1957
63%
Public Service El & Gas 3'As
106%
Terminal 4s——
101'A 101%
100%
100'A 100 'A
M-N
1956
1968
25%
M-S
J-J
*110'A
'A.
52*
5%
,
ref mtge 3s_
M-N
1st
&
ref mtge
ref mtge
5s_>„
J-J
102%
8s_
J-D
*223
17
26
98%
110
,,
106%
*1471/8
&
1972
2037
'—.—2037
Public Service of Nor 111 3%s
1968
109'A
100%
*112¥a 113'A
1st
v
15
105%
109
*109
101%
1st &
9%
104%
105%
J-J
1977
1st M
3'As
102%
97-
106% 106%
A-O
109%
30%
100'A
110
107'A
147%
109 3/- 109 3A
11
147%
224%
224 ¥a
224%
109'A
111%
68%
111%
~2
105%
108
7
107%
108%
A-O
20%
.1997
J-J
14
.1997
J-J
95
.1956
50%
11
,
87
R
.1951
34
92%
2
109 %
111
193
18%
31
109% 109 V*
1
108%
25%
El Pwr
1st mortgage
48 %
26%
110% 110%
26%
1950
Pressed Steel Car deb 5s
%f',f
11%
*90%
J-J
J-J
9
J-D
,i A Providence
18%
11%
Af-N
1946
104
& Ash 1st 4s ser A—11948
31%
^
13
,■
Potomac
94
*13
1940
5s
61
110
HAN Y Susq & W 1st ref 5s
§A2d gold 4y2s
—
103'A
101%
59'A
70%
1st 5s extended to
45 % ,59%
82
"111%
N Y Steam
1958
102%
5
70
,16%
,
52
66,,
61
64
7
-
,
;.■•; 50%
-25
26%
1955
& Pow 3i^s,y___1965
46%
141
27%
gtd 4s____1993
N Y & Putnam 1st cons
46 %
-V
•:.:45
57%
M-N
M-3
9
31
.
'
,
—1954
103'A
102% 103'A
68'A 70
70
69
5s»series
53
103
103%
J-D
69%
gen
A-0
-
103%
J-D
A-O
4%s series-D,
pittston Go
120 ¥4
J-D
A-0
1st
60
M-S
—1959
-I960
1st
,
60%
107%
1958
1st 4'As series A
1st gen 5s series B
46
.—1957
—
Bost
88
45%
f A Harlem River & Port Chester—
Y West &
Pitts Young
15
}AN Y Ont & West ref gold 4s____1992
1st
82%
J-J
1950
1950
Steel 1st mtge 4'As,—
1st mtge 4%s series B__
Pitts & W Va
85
,,—1948
i
& ref 4>/2s series
A Terminal
Pitts
531%
4s—,———1956
gold
104%
55%
,1955
§ ACollateral trust 6s,—,
§ A General
102
52
53%
N Y Rys
12
53%
451%
AGeneral
107%
103% 103%
1954
—:
6s_„—
N Y Queens El Lt
106%
53%
J-J
4s
8
Af-S
J-J
1st
107'/a 107%
Af-S
AConv
ADebenture. 4s—
116
1947
ADebenture certificates 3y2s„—1956
deb
3
1st mtge 4%s series B—
V
120'A
120%
104%
:;
123%
120
103
77
123%
116%
A-O
102
43
~1
mtge 5s series B
.—1975
Gen 4%s series C——
1977
Pitts Coke & Iron conv 4%s A
1952
Gen
103
88
13
v
122%
123
123% 123%
*123%
120
105%
87%
123%
120
111
71-
F-A
M-N
J-D
,,1947
—
4%s—1964
A_,
115%
$N Y New Haven & Hartford RR—
ANon-eonv
guaranteed
cons
Gen mtge 5s series
104
30
9%
101'A
104
114%
5
10%
6 Va
100%
112%
109%
103
7%
8
104
2
102% 102%
80%
82%
8
30
103%
3
*102
9
101%
101
*112%
114% 114%
*105
10'A
10
9
9
101
106%
*104%
109% 110'/a
.
Af-N
10
F-A
28%
104%
1970
91%
Erie—See Erie RR
N Y Gas El Lt H & Pow
cons
j-j
~5
*104
H
101%
107% 107%
106% 106'A
105%
J-D
4S
cons
M-a
17%
105
* 105%
F-A
Series
105
F
*105
M-N
gtd gold,—,
guaranteed gold
G 4s guaranteed—
Seriis
M-N
1949
,1953
1957
Series
Chicago & St Louis—
series
Y
.1952
4'As series E_——1984
deb
Conv
82%
77%
-
M-N
104
HAN
103%
'1
106
105% 105%
109
__
J-J
r
73%
110%
106
106
...
J-D
gold 4'/2s_—
5s
Gen mtge
^
103%
75%
108 'A
110'A .110%
J-D
1966
General 4'/4s series D_:
1
.,
j,;
A-0
.—,1997
—1998
registered
N
N
J-D
99%
J-D -/•/
1955
*
80%
69
15
<.
4'/2s
General
•83%
.
71%
'
45
A-0
A 1st
5
—I960
series B—
3%s
Debenture
69-
:
•
72
72
80
78
F-A
3V&S—1997
River
N
,
21
110¥a 1105/a
-
/General
75
.•71%
.
74%
.-1974
Y
108% 109'/a
1103/a
—1971
gold 4s_
AIncome
•78
Ref
N
1
108 3A
J-D
dollar—,May 11948
mtge 3%s series C
1970
sinking fund 4'/2s_——,1960
Cons
101%
62
-72%
A
&
99%
J-D
*
i
80
series
Y
J-D
4s eterl stpd
Gen
100
96
ref
debentures—
:
105
120
ref 4'/2s
Consol
(
"■*.
104%
74%
J-J
'
"93%
102%
103
78%
107%
108
(Pennsylvania RR—
103*
~4
&
4V2s
84%
22
&
1st
Penna Power & Light
108%
<94%
1
7
109
104% 104%
1940
mtge 3'/4s series C_„
1st
V
125%
105%
99%
.
Ref5y2s
N
104%
1
16
1964
Series E 3%s
&
J-J
107
"
New York
N Y
.107
Pennsylvania Ohio & Detroit RR—
117%
122%
5
102%
h 75
•
92%
115%
6
103
*71%
;
impt 5s series C>„—,—2013
—1952
3y2s registered—
Shore coll gold 3yas
3y2s fegistered
Mich Cent coll gold 3V2S,
1st
108%
104% 104%
Paramount Broadway Corp—
i
93
84%
*70
,
—1998
Lake
N
107
108% 109
Ref
10i%
847/a
69
A-0
secured 3 y4s
Cent
1st
105%
1
107% 107%
116
<
■84
*74
;
impt 4'/as .series A——.,2013
104%
J-J
105
99%
2
115
99% 101%
78%
F-A
:
.
1943
RR 4s series, A
104
1
J-J
Paducah & 111 1st s f gold 4'/as
92%
.103%
*68%
—
,1956
>
15
98%
100%
A-0
——1954
General gtd 4y2s
103%
J-J
107%
T
110%
*104
Lino; 1st cons ;gold 5s, ,1946
Panhandle East P L 3s B_,
103%
-102'%
108%
104%
M-N
>1945
'
107%
92%
11
*106% 107%
M-S
102%
103
.—
,,
..
Newport & Cincinnati Bridge Co—
107% 107%
108 '/a 108'/a
1Q7%
109%
F-A
103%
29
106'A
106%
J-D
1st M s f gold 3s loan ctfs—1955
105%
)
104%
2
105
Pennsylvania Co—
1
93
15%
11
J-J
Paterson & Passaic G & E cons 5s_1949
no
114%
32
1966
3%s,_
Transmission
111%
15
•
20%
17%
105%
16%
M-S
1972
,
Elec
&
J-J
M-N
1967
61%
14
*102
F-A
deposit—,—.
111% 112
1965
Pacific Tel & Tel 3'/4s series B„_,1966
66
39
102
—
deposit——
92%
■
deposit
A,
112'%
111%
5:1105% 108%
J-D
;
—
D—
of
series
111%
M-S
43%
<*85
a-0
————1956
of
ACertificates
A 1st
deposit
14
/
109%
325% 125%
J-J
of deposit—
B——1954
ACertificates
.
110%
1st & ref mtge
59%
115% 115%'
J-J
;
108'A
,1964
Pacific Gas & El 4s series G_
101'/4
48%
90
92%
A-0
1st
15
Pacific Coast Co
95%
lOOVs
60%
F-A
gtd 4s——1-953
Orleans Term
110%
J-D
■
107
94%.
2
65%
A-0
-
1960
tNew Orleans Texas & Mexico Ry—
SANon-cum inc 5s1 series A
.1935
New
110
'
72%
4
93
Af-N
.——1355
5s series B
85%
110%
F-A
,1967
T
72
149
99% 101%
J-D
1st 5s aeries A—1952
Orl Puo Ser
New
67%
1st & ref M 3s series K
95 y4
*__
J-J
J-J
1952
1st ref & imp 4Vis,,
N O & N E
40
114 '/4
12
•"
103% 104%,
J-D
*
Orleans Great Nor 5s A—1983
New
85%
72%
103% 103%
A-0
,1945
1945
1st 4 Vis
Light
85%
83
71
56 V2
104% 105%
105%
M-S
gtd 4'As series BJ
^,—,—1961
N J Junction RR gtd 1st 4s_———1986
J
67%
85%
i
13%
107% 107%
M-S
1st
N
52
J-J
111%
59%
91%
92%
J-D
V"
.>,—1948
England Tel & Tel 5s A—
New
96%
83%
J2047
•————1963
Pennsylvania Glass Sand 3%s
1.960
1965
5S—
80%
Secured 4s,_„——
F-A
,1954
5s
England RR gtd
A Consol gtd 4s_
lANew
463
J-J
96%
85 %
lli:
*109y4 110%,
1949
tANaugatuck RR 1st gold 4s
Newark Consol Gas cons
94'A
2047
96%
85 %
■
,——1949
3»As sinking fund debentures
National Steel 1st mtge 3s
J-J
mtge 4s
Guaranteed 3%s trust
1978
78%
80%
2047
Gtd 4s series E trust ctfs,,,.
& St L 4s series A
80%
<
111%
J-D
67'/4
J-J
.
N
Nash Chatt
Q-A
72%
,59'/a
: 60 <
M-N
5s
67'A
V108 %
63 y8
60
Q-F
1
•
57%
65%
97%
Jan 2047
3%s series H
,1961
1st & ref mtge 3%s series I—,1966
1st & ref mtge 3s series J—, 1970
58%
M-N
102%
88%
6
:
100% 100%
!
92%
21
Guaranteed stpd cons 5s— .,1946
,1961
Oregon-Wash RR & Nav, 4s
Otis Steel 1st mtge 4%s- ser A— ,1962
.
•yao4% 105%
109
116
239
97'A
99% 102'A
Ore Short
68%
•.
9%
■
,"4
70%
*
120
97
102
Oregon .RR & Nav con gpld 4s„, ,,1948
•
59%
70%
M-N
69%
56%.
'
*105% 106
1955
-^.1968
Oklahoma
Ontario
V ••'•, 56 %,:,, 72%
466
109
j
■
vi/. tv56%.i 72
114 ;
65%
60%
F-A
—1955
4%s series B—
& T 3y4S
Mutual Fuel Gas 1st gtd
;
,y
111% 111%
1958
States T
Mountain
'<■
^:27i
*63 V*
A-0
J-D
2000
3:%S-.-
5s series A_
M
Constr
gtd
1st
"<
$a 292
A-0
5s £xt_,__>—1951
Tramways
&
y2
M-S
1966
Morrell (John) & Co 3s debs
Morris
64
46'/a
125'A
97%
4s,,,,."—,
1st mtge 3%s_,l
'
22%-,'30;
356
•
1965
Power
Montreal
■
65
1960
debentures
'—
11%
60%
—
-
,56,%
,
*63 y4.
F-A
■-
—.
.
l
,11
—
1981
.J
65%
c
,*63%
11%
A-0
I
;.v>
60%'
*127%
Q-J
47%
132%
116
46
129
125
132
132
Q-J
1st mtge 3'/as—
1st mtge
387
'
M-N
rr :
:^;1
-
-
43%
M-S
§ Alst guaranteed 4s_,i,—— ,194a
%^ 57%
f
65
;■
1980
deposit
■
65%
*63y4
Monongahela By 3 Vis series B____1968
6s
.(60%
M-N
s;
Moh'k & Malone-lst gtd gold 4s__-1991
*
65 y8
;
27 %
-1949...
_.
gold 5s series
.^Certificates of deposit
■
,24%
86%
37%
1997
Id gold 3s
Ohio Edison 1st
.66
V.A56%^72.%
!%^126
26%
-VpAA,:
deposit——;
gold 5yas__
& ref
A 1st
,
series G_,—1978
36
61.
; 57
157
'
M-3
1977.1'
ACertificateB: of deposit,-.,,,,-^,:.
Alst Jk "-ref :5s -series
."23
>:
M-3
4s—^^1975
General
53%
,51
....
'
61%
61%
:
45
tOgdensburg & Lake Champlain Ry—,
73%
.
V
—
132
M-S
1974
41%
*38
69%
64%:
n
F-A
~of,tleposit—__^—_—
j|
V;
1
-
A,_i—1965
& ref 5s series
A 1st
A-0
y
82%
88%
40%
40%
tylr
■■■316
'
B—,————1962
4Vis series*_1978
"■r 40-year 4s series
High
110%
103%
56%
241
67%^ 69%
*
71
,1974
registered
(Wise)
Low
'
''
J-J
-
5
January 1
73 % V 78
103% 103%
J-D
5s series A—AP-~—-1962
5
6 V2
J-J
-
A,
\
'
38 y2 :
•
M-S
.
■
1959
,1990
Missouri-Kansas-Texas RR—
Prior lien
J-J
*
,,,1978
1st 5s
1st 4s
Mo Kansas & Texas
.
—1946
A25-year 5%S
—*
A 1st & ref 5%s series B
.
t A Missouri-Illinois RR
v
5s
registered
Ref & impt 4'/as series A—,
Ref & inipt 6s series B
^
Ref & Intpt 5s series C—
v
Ref & impt 5s series D_-,,
Northern States Power Co—(Minn). 1st & ref mtge 3%s„
5%
J-J
,,,,,——1938
gAlst stamped 5s gtd as to int—1938
O-A
,3s
.,
§ A 1st
.
4s
12
12
11%
1st gold 4s_1998
*85'A
F-A
Northern Pacific -Ry prior lien .4s_,1997
69%
77%
Range Since
108'A
*108% 109 %
A-O
1961
& ref
gen
J-J
—2014
A
Gen & ref 4%s series A
y
84%
75%
Central
Nortn
101
A-O
1998
A—
70 y8
§ A 1st cons 4s stamped,,,,,—,,1938
consol 5s_
series
A-Gen mtge 5s conv inc—
HANorfolk Southern RR 5s
Gen lien ry &
Q-F
/
4%s
mtge
1955
Sold
NO.
High
Co—
92%
p
M-S
Sault Ste Marie
9
68%
83
*81
97
105
97
13
83%
.
66%
J-J
1st
Ry
55
36
100 V*
99
'
■
Niag Lock & Ont Pow 1st 5s A
Bonds
Sale Price Bid & Asked
Low
73
102%
1
92%
67%
J-D
1947
f§AMilw & State Line 1st 3V2S
99%
Week's Range
or Friday's
Last
Period
18%
95
-
105
90%
92 y2
A-O
t§ AMilvv & Northern 1st ext 4%s__1939
X AMilW Spar & ,N W 1st gtd 4s
*97
105
J-J
Friday
Interest
Exchange
High
16
16 %
M-S
1952
1979
1940
1st
Ref
tMlnn Ct Paul &
Stock
January 1
Norxolk Southern
Jkucujguii central—
Jack Lans & Sag 3%s_
J
New York
Range Since
Sold
High
F-A
19
BONDS
Bonds
Sale Price Bid & Asked
Period
/
Week's Range
or Friday's
Last
Interest
Exchange
'
2103
109%
Reading Co Jersey Cent coll 4s.
Revere Cooper ,& Brass
3 Vis
10O
104%
1
—
-
J-J
100 ¥a
57
102
104'A
103 ¥4
203
102
106% 107
97
1003A
94
104'A
33
94%
103 3A
26
104'A
107
,101'A
102'A
jq«n
M-N
.1939
J-J
89
88 ¥a
89 3A
16
.1949
A-O 1
54 ¥a
54'A
55¥a
105
*102'A 102 3A
81
95
44%
58'/a
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
'
2104
NEW YORK BOND RECORD
19
RANGE FOR WEEK ENDING MAY
BONDS
New
Last
Interest
Stock Exchange
York
Period
or
Friday's
High
Low
No.
High
Low
A-O
1st 4s
1950
Toronto Hgm & Buff 1st gold 4S..1946
Trenton Gas & Elec 1st gold 5s
1949
Tri-Cont Corp 5s conv deb A...—1953
Toledo St Louis & West
Rochester
Gen
& Elec Corp—
Gas
M-S
1967
3%s series H
*1113/4
III1/2
*108% 109%
108%
-
III1/2
M-S
I_.
1967
mtge 3Vis series J
1969
f $ AR X Ark & Louis 1st 4%s——1934
|ARut-Canadian 4s stpd
1949
ISARutland RR 4%s stamped——1941
mtge 3Vis series
Gen
*1255/8
M-S
1977
4Vis series D
mtge
Gen mtge
M-S
Gen
39V4
Ltd 1st M 4Vis
St Jos &
A-O
.1968
Grand Island 1st 4s
Adir 1st gold 5s
1947
.1996
Baguenay Pwr
Lawr &
gold 6s
.—1996
|St Louis Iron Mountain & Southern—
River & Gulf Division
A 1st 4s stamped
——1933
A Certificates of deposit..——
5 A Refunding 4s—
A Certificates of
deposit
4s
4s
Gold 4Vis—
Gold 4Vis
San
South
Pac
Stamped
120
.
105'/a
104%
8
109
110%
A-O
106% 106%
5
106
A-O
8
100% 103
'305/s
101%
27
102% 1031/8
103 J/8
'
•W W
•
May 1 1949
*101
101 Va
102%
Nov
1 1949
M-N
*101% 102%
102%
102%
May 1 1950
M-N
*100%
100%
101 %
491/4
481%
2.20s
1 1950
Nov
May 1 1952
M-N
*101%
101% 102
M-N
*1011/4
101'/a
101 '/a
2.40s
Nov 1 1952
May 1 1953
M-N
*101%
101%
101%
37%
37%
M-N
1 1953
M-N
May 1 1954
M-N
36%
6
36%
28i/a
142
281%
———
2.35s
1041/2
.97
26
.....
2.45s
/
Nov
2.50s
2.55s
.
80
7
70%
831/2
67
57%
77
540
54%
92
1 1954
*1011/4 102%
101%
101%
*101% 103%
101%
103
*101% 1021/4
M-N
M-N
Nov
2.65s
38%
M-N
May 1 1955
2.60s
77
101% 101%
12
101%
102%
101%
6
102%
*1021/8
102% 102%
101%
102
101%
102%
991%
54%
51%
54%
*99%
*24
30
35
36
35
102
1041/4
_9
103%
1051/4
27
104% 104 7/a
128
128%
126%
128%
43%
1
61
61
32%
63
61
63
112
29%
28%
30
150
21%
28%
28
28%
17
39%
375/8
401/s
916
28%
431/4
38%
74
27%
42
42%
60
40
62
38 %
37
43%
43%
M-S
53%
F-A
'.*
J-J
2
46%
53%
F-A
31
42
50
—
f
•
101%
1021%
52%
65%
103/8
105%
3
103
103%
105% 106%
10
105%
106%
123
124
108% 108%
107
108%
•;
107% 107 y2
9
105%*; 107%
IOII/2
343
95%
101%
99% 101'A
56
94
1011/4
*124
A-O
108%
J-J
101
J-D
100
ft
101 %
MS
87
82%
88
554
69
831%
80%
83%
344
66%
M-N
83
79%
83%
416
65%
81%
77%
82 y2
515
65%
A-O
1051/a
77
101%
750
91%
831/2
85
/
i
V.
A-O
101%
1.01% 102
58
92'% 102
103 %
103 y2104
50
96
J-J
109 5/8 110
9
100%
J-J
106
106
3
100%
J-D
111
111
3
110%
112%
J-J
IO71/2 1071%
4
106%
107%
M-N
111% 111%
2
110%
■>.-
106
111%
106
J-J
104
103%
15
100% 104%
i
105%
-*
%',-~
f
f
1
M-N
*106%
105%
106
M-N
*102% 103'A
102%
103% We*
1951
J-J
*118
118
118
68
137
56
99%
99% 100
25
95%
50
7
38%
49%
50
Q-M
mtge 31/2S—;
—
West Penn Power 1st 5s E
..1967
1963
—1966
1952
J-D
1977
1948
J-J
Gen
31/2S series I
Western Maryland 1st 4s_._
1st
mtge
51/2S
ref
&
series
Pacific 1st 5 s ser A
Telegraph Co—
t A Western
101
104
118
118
101%
101
118
118%
7
108%
109%
105% 105%
M-S
1
108% 109%
108%
5-
105%
111%
112%
112
12
110%
98% 101
J-J
389
88%
101
104%
112
A-O
100 %
104% 104%
92%
91%
M-S
5
98%
59
77%
101%
99
Union
M-N
estate 4%sl_—.1950
Funding & real
,
A
*101
;
50
102
101
*101
—
78%
100
98
*101% 110
F-A
J-D
Registered
*55
107%
106'/a
106/8 106%
48
102
105'%
104% 105%
60
100% 105%
101%
101 % 101%
16
101
J-J
M-N
1st 4s
70%
72
25
72%
55%
65
53
-
67%
110%
*110% 111%
M-S
111%
96%
91%
96%
111
102% 103%
26
101%
103%
1161/a 116%
2
116%
116%
236
57%
74%
60%
70
95%
96%
A-O
103
J-J
J-J
67%
M-N
36%
65%
67%
*
;
4s.—1936
101%
67%
M-S
.1949
lAWisconsin Central 1st 4s
ACertificates of deposit
;
64%
70%
J-J
1958
1960
1st mortgage 3s_
SASu & Du div & term 1st
107%
M-S
4s.
1949
Wheeling Steel 1st 3%s series B^__ 1966
S B
107%
J-D
Wheeling & Lake Erie RR
Co
107
2361
2361
5s
Westinghouse El & Mfg 2%s
West Shore 1st 4s guaranteed
30-year
&
107'%
1960
1951
1951
25-year gold 5s..
Winston-Salem
;,'
38
73%
F-A
5s
82%
78%
1950
Wilson
1
104% 104%
76%
1945
guaranteed 4s
.
IO41/2 106
24
1041/4
104
/•
104
20
•105% 106
*
;
60
102%
*1031/2 103%
J-D
'
1041/4
54
55
*51
109% 111
71%
stpd gtd
jI
110
Apr
12
59
73
F-A
ref gtd gold 3%s-_2000
RR 1st
Warren
Western
,
A-O
F-A
93%
♦
931/2
110%
77%
A-O
Washington Central Ry 1st 4S.....1948
Washington Term 1st gtd 3y2s
1945
1st
85
73%
248
85
V
113%Vf'!
105
43
112% 113%
113%
80
93
Apr
1955
Walworth Co 1st mtge 4s_
1st 40-year
101
J-J
J-J
mtge inc 4%s ser B
Westchester Ltg
105%
100%
f
.
82%
J-J
J
\
83%
M-N
A-0
102
100
j._
Apr
1981
1991
mtge 4s inc series A
AGen
83%
99% 101
96
110% 110%
110
110
J-J
1971
4s series A
AGen
88
MS
104% 1055/s
*101%
93%
M-S
■
~6
J-J
A-0
A-O
:
;
W
1st mtge
2
11
F-A
90
Wabash RR Co—
103% 1031/4
,
_.
111%
109%
*110% 111
J-J
112
112
104%
«
60 s/a
60%
103%
..
111% 111%
*96
F-A
;
,103% 1031/a
F-A
A-O
*108%
'/<' *112 ■ >
lll'A
M-S
54
v
100
3
101%
101
'
__
M-S
.
100%
18
101% 101%
J-J
31
20
;
M-N
4s series B
Cons s f
69
A-0
F-A
A—1955
1957
Va Elec & Pwr 3%s series B
1968
Va Iron Coal & Coke 1st gold 5s__1949
Virginia Pub Serv 1st mtge 3%s__1972
Va & Southwest 1st gtd 5s
2003
1st cons 5s
—.—1958
Virginian Ry 3%s series A
—1966
Vandalia RR cons g 4s series
68%
43
M-S
A-O
..1951
4'As w w
United Stockyards
381/2
30%
*102%
104 7/s
—
31%
221/a
23
A-O
1958
..1961
F-A
107
,
2.10s
79Vi
A-0
ASpokane Internat 1st gold 4Vis—2013
Stand Oil of Calif 2%s debs—...1966
Standard Oil N J deb 3s—
1961
2 3/4 debenture.
—.1953
103
102
2.15s
72
M-N
1955
•'
2.05s '—..I
704
104% 1041/2
MS
1st cons gold 5s
1994
Devel & gen 4s series A
1950
Devel & gen 6s—
— 19581
Devel & gen 6Vis—
1956
Mem Div 1st gold 5s_.
1996
St Louis Div 1st gold 4s
1951
Southwestern Bell Tel 3%s B—.—1964
1st & ref 3s series C
-1968
Southwestern Pub Serv 4s.—
..1972
102
44
34
31%
110
1071/4 108%
32%
34%
40% 43
■J-.
A-0
Southern Ry
Superior Oil 3 Vis debS———
BWift & Co 2%s debs
102%
109% 110
J-D
Serial debentures
77
F-A
----
—
—
44
J-J
1950
1st 4s—
RR 1st ref gtd 4s
Fran Term
102%
4
.1952
1958
Corp—
'
J-D
1977
—1968
1909
1981
Gold 4 VaS—
32
104%
104
45
80
J-J
1949
A
1071% 107%
104% 1051/8
54
104%
M-N
94
J-J
Aug 1949
(Oregon Lines)
107%
A-O
1955
States Steel
J-J
■
registered
1st 4Vis
45
•
M-N
—1979
Pacitie Co—
(Cent Pac coll)
34
39
41V4
33 Vi
——
debentures
3s
J-J
104
33
540
36%
43%
43
|§AAtl & Birm 1st gtd 4s _
-1933
lASeaboard All Fla 6s A Ctfs
1935
A 6s series B certificates.,
1935
Shell Union Oil 2%s debs
1954
23/4s sinking fund debentures.—1961
1§ ASilesian-Am Corp coll tr 7s
1941
Simmons Co debentures 4s
1952
Skelly Oil 3s debentures
1950
Socony-Vacuum Oil 3s debs
1964
8outh & Nor Ala RR gtd 5s———1963
South Bell Tel & Tel 3%s
1962
Southern
7
F-A
89%
39%
<
MS
-
6s
cons
103% 103%
mtge 3%s series A__._,
5s
Drug 3 Vis debs—__—„.
/■
102%
104% 104%
1947
1970
1971
1980
United
92%
103% 106
103%
3%s deb
United Cigar-Whelan Stores
97% 100
93%
37%
J-J
1945
series A
A Certificates
of deposit—
A 1st
*92%
39 %
39
1950
1950
1»5»
stamped
6
19%
19
,
J-J
1st & land grant 4s
;
unifying 5s
1952
goid 5s series A
1990
St Paul & Duluth 1st cons gold 4s_1968
tASt Paul E Gr Trk 1st 4y2s__—1947
*§ASt P & K C Sh L gtd 4%s
1941
St Paul Union Depot 3%s B
1971
Schenley Distillers 4s s f deb
1952
Scioto V & N E 1st gtd 4s
1989
tSeaboard Air Line Ry—
§ A4s gold
81
23
J-J
Nov 1989
unstamped
92
991/2100
J -J
S A 1st term &
AGen & ref
jjAlst gold 4s
90%
MS
111% 111%
7
United Biscuit 3%s debs...
.99%
112
111:
A-O
__.1959
..1967
:
United
95
99%
j-i*
1989
bond certificates
bond ctfs
<
34-year
100%
95%
109
99%
98%
98 %
*—
deposit——-—
A Prior lien 5s series B—
1950
A Certificates of
deposit
A Cons M 4 Vis series A
1978
A Certificates of deposit stpd
ISt Louis-Southwestern Ry—
4s
;
1945
5s
M-N
Pacific RR—
Union
68'A
731%
Ref
of
2d 4s inC
*73
Jf-N
gtd 5s
194b
5s ———1959
Bt L Rocky Mt & P*5s stpd
1955
IBt Louis San Francisco Ry
A Prior lien 4s ser A
1950
A
106%
106
61
25
.<
debentures
3s
1971
3%s
35-year 3Vis deb
|ASt L Peor & N W 1st
ifit L Pub Serv 1st mtge
1st
105
106
5
63
61
61
A-0
2d
^Certificates
'
V
106%
*106
J-J
106% 107%
U
Union Electric Co of Mo
106% 106%
J-J
116%
19
IS A Union Elec Ry (Chic)
Union Oil of Calif 3s deb
St
103%
107% 1071/4
16%
12
161/2
45
*__
101%
50
lli/4
12%
*151/2
5
45
12%
J-J
103% 1031/2
J-D
104
5
A-O
M-S
101%
109'/2
26
44Vi
JmJ
M-S
High
Low
,
5
'
102%
102
January 1
Sold
No.
Hiah
Low
Range Since
Bonds
Sale Price Bid & Asked
Period
January 1
Sold
Last
Interest
Stock Exchange
New York
Range Since
Bonds
Sale Price Bid & Asked
Week's Range
or Friday's
Friday
BONDS
Week's Range
Friday
68
,
16%
16%
•
22%
16%
72
18
15%
^^Certificates >M deposit.
Wisconsin Elec Power 3%s—......1968
Wisconsin Public Service 3y4S„._..1971
A-b
"I
J-J
109%
*108% 108%
110%
107%
109% 109%
108%.
X
Term Coal Iron & RR gen 5s
Terminal, Assn St L 1st cons 5s
1944
J-J
Ref & ampt antge 3%s series-B__ 1974
*
F-A
1953
J-J
Gen
refund
f gold 4s.
s
120
II
Conv deb 4s
103
111
8
105% 105%
105%
Totarkana & Ft Smith 5 Vis A
1950
F-A
ioiya
101
1011/2
Texas
1959
A-O
106
106
106
1965
M-N
105% 1061%
2000
J-D
119
Company
3s deb.;
debentures
3s
Texas
Pacific 1st
ta
gold 5s
105
1061/2
105%
106'A
10
120
115%
120
Gen
&
ref
5s
series
B_.
.1977
A-O
957/8
93%
96%
83
81%
&
ref
5s
series
C__
1979
A-O
951/2
92%
95'%
117
79%
&
ref 5s
series
D„
1980
J-D
96
1964
M-S
i
95%
Gen
Third
Ave
AAdj
Tol
A
1st ref 4s
Ry
ref fit impt 33/4S—1960
17
69
71
33%
34
J-D
34%
^Companies reported as being
37%
NOTICE—Cash
in
and
deferred
in
In the
following extensive list
May
13,
the week
and
in
ending
which
the
they
present
we
furnish
Friday
a
(May
include every security, whether stock or bond, in
1944).
STOCKS
York
Curb
Friday
Exchange
Last
-
Sale Price
Week's
Range
of Prices
which any
FOR WEEK
Acme Wire
Aero
Co
common
and when selling outsids th« regular wsekly range are
the New York Curb Exchange for the
Friday
Range since January 1
Week's
Sales
Last
Range
for Week
Sale Price
Curb
York
New
of Prices
Shares
Exchange
Ainsworth Mfg common
Air Associates Inc (NJ)
Aircraft
Air
Accessories
."II
5
"II
ioo
Corp.
II
2
IIIIIlO
Electric Appliance_IIII„II_3
Great Southern.
,1150
Investors
preferred
3%
3%
7
7
7
Air-Way
Alabama
Alabama Power Co $7
$6
preferred
•
footnotes
Allied Intl
Feb
Allied
Feb
7% Mar
1,500
6%
8%
100
3%
3%
9,000
x8%
2
9%
Feb
Jan
3 % May
Jan
Investing $3 conv pfd.
Class
A
conv
6%
2%
Feb
Aluminum
Goods
35%
Jan
Aluminum
Industries common
2%
3% May
3%
800
101%
20
89
Jan
116% 117%
30
114
Feb
106% May
Ltd
—•
•
common—
117% May
104% Mar
Aluminium
101
Apr
1
102
Mar
6%
American Beverage common..—
Co
Book
Central
.....
-
—
Mfg
page
2109.
33%
6,700
12% Mar
25
Jan
Apr
28
Feb
27% Mar
33% May
Mar
112% May
109
—
111
112%
19%
19%
1,950
100
18%
77
78%
1,000
73%
97
—
78%
.
2%
...1
.100
32
:
2%
32%
50
97
19% Mar
Feb
10%
Jan
84
Jan
<3103
Feb
May
Jan
May
1,300
1 %
40
28%
Jan
500
5%
Jan
)
2% Mar
Jan
33
■
...1
-
-
--ftsee
31%
Jan
Feb
23%
9
-
100
preferred.
25%
125
97
111%
•
Mfg__—
Jan
Jan
"
25%
33%
......—100
preferred
2
2%
1
High
8%
—
35
Low
22%
25
common.^.
Aluminum Co new common
No.
High
1
•
10
(Mich).—
.Products
American
preferred
For
Jan
4
American
Allegheny Ludlum Steel—
7%
Mar
21
Apr
3%
I
preferretLIIII.*
26
Apr
500
8%
"3%
Jan
20
3%
common.
Convertible
Alles & Fisher Inc common
22
l
™1
B
Range Since January
,
High
Low
High
shown
; .
.
STOCKS—
Sales
io
Supply Mfg class A
Class
Low
v
ENDING MAY 19
for Week
Sbares
such companies.
sales being transacted during current week.
Low
Par
<
-
It is compiled entirely from the
RANGE
New
"
.
represented is the dollar quotation per 200exchange rate of $4.8484.
in bankruptcy, receivership, or reorganized under Section 77 of
week beginning on Saturday,
daily reports of the Curb Exchange itself, and is intended to
dealings have occurred during the current year.
complete record of the transactions on
19,
d Ex-Interest, e Odd-lot sale not
sale not Included in the year's range, r Cash sale
RECORD
YEARLY
AND
they are the only transactions of the week,
No account is taken of such sales in computing the range for the year.
occur.
104
Act. or securities assumed by
delivery sales are disregarded in the week's range unless
footnote
a
104
101%
EXCHANGE
NEW YORK CURB
WEEKLY
101%
155
Included In the year's range,
•Friday's bid and asked prices; no
A Bonds selling flat.
102
96%
delivery sale not
Deferred
the Bankruptcy
83%
30%
87
*101%
14
103% 104
SNegotlablllty Impaired by maturity.
fThe price
pound unit of bonds. Accrued interest payable at the
112
108
82%
a
1
96
80%
82
96
1081/2
8 iy2
81%
A-O
income 5s__——__Jan I960
Ohio Cent
92%
108
J-J
—I960
101% 102
103%
Included in the year's range,
n Under-the-rule
not Included In the year's range.
96%
Gen
Tex Pac Mo Pac Ter 5Vis A
3 01%
M-N
1948
—
102
15
5
M-S
105%
91%
18
/
f 3y«s series D___—.1960
1st mtge s
112
105%
*112%
I
Youngstown Sheet & Tube—
8%
8%
9
Mar
9% May
/Volume ;159
THE COMMERCIAL
Number 4283
&.FINAN.CJAL CHRONICLE
NEW YORK CURB
EXCHANGE
RANGE FOR WEEK ENDING MAY 19
Last
Exchange
Curb
Range
Sale Price
Par
American
Cities
class
25
—
*
41%
39%
25
A
A
Class
Class B
39%
2V2
36%
2%
10
10
American & Foreign Power warrants—
American
&
Fork
General
Corp
-
900
Potash
Post
Angostura-Wupperman
Apex-Elec Mfg Co common
Appalachian Elec Pwr 4%%
Inc
Argus
Apr
X18
29
Apr
v.: 700
40%
loo
A
14
Art
Equipment Corp
Metal Works common
Oil
Ashland
American
dep rects
Birm
Atlantic
Coast
Line
Rayon
Atlas Corp
15%
Apr
Central
Jan
4%
Apr
Central & South
■
-
125
%
14%
14
■yg
Jan
400
3%
4%
700
4¥8
2%
300
18%
2% May
2%
100
16%
17.%
400
140
~3 V2
3%
3%
Jan
2% Mar
13
3
Feb
8%
8%
2
1,800
3
May
3,300
3
May
4% Mar
400
9%
Jan
10% Mar
97%
10%
__
2,600
3%
10%
.
Jan
106%
Jan
7%
Apr
9%
Apr
6%
3%
Apr
8%
500
100
7%
Apr
1,400
6%
5%
Jan
,*
10% May
•
f
ey2
Apr
__
100
7%'
6%
Jan
%
7%
—
Jan
2JA Mar
9 %'
1%
8%
1
5
1
Corp
I
—
Automatic
Voting Machine—
(BF> & Sons common.—
1%
8%
11
4%
5%
8
21 %
14%
4%
5%
8'/2
—•
5
25
1
/
-
8%
175
10%
9
—
j
100
44
43
50
Co
9%
31
3,000
7JA
Apr
5
Jan
5%
8%
800
Mar
Apr
6%
preferred
Patoka Collieries
.
Ayrshire
;
..
.
14%
7-7o
Rubber Co
Baldwin
Barium
Steel
Barlow
&
100
13
100
Electric
Plow
Patent
5 %
A
25
Southern
(L)
Baumann
39
64
wanants..
3/64
Brummel
Water
Service
2,600
6% Feb
8 % Mar
100
39%. Jan
Aircraft
of
Tel
&
Benson
Blue
$3
7%
(HC)
22%
3%
30
3/64 Jan
20 %
Feb
23
Mar
%
900
'/a
Apr
1
May
Breeze
Class
7%
'
Mfg Co
Class; A
Apr
34
Jan
Cor' '/on
37
Am
$6
Jan
Cosden
Feb
5%
6%
Jan
6%
Feb
11% Apr
5,800
1%
Jan
dep
ord
rets
Celanese
Amer
British
8% May
9% May
15%
Jan
3
Mar
dep rets ord
Class
B
•
Class
A
$5
Bruce
(EL)
43%
Jan
48>/4 Mar
Jan
14% Mar
Crown
8%
11% Mar
Crown
7%
Feb
V
30
80
Jan
105
Mar
26%
150
24
Jan
27
Mar
$5
1st
11%
100
10%
Jan
12
Jan
Apr
% Mar
•
18%
19%
1,200
18%
Jan
21
Apr
Curtis
Lighting
11%
400
9%
Jan
12%
Feb
Curtis
Mfg Co
3%
'
4,400
2%
3
2%
Apr
21»A
2%
11%
11%
120%
11
9%
1%
1%
12%
Jan
22
Burco
Burma
Inc
.*
9!A
Apr
13%
12
$3
6%
Feb
12 y8
-1%
123
300
1% Mar
1%
Jan
81%
1,450
Jan
123
May
Jan
14
Mar
Butler
(P
H)
18%
18%
18
100
Feb
18%
Jan
20
—
—
Feb
20
Feb
15%
—
Jan
17
Feb
4
4
4
3%
200
Jan
''_i:'
17%
■jL/-'-
■
Apr
3%
16%,
3%
16%
400
3%
Feb
__
300
14%
Feb
25
23%
25%
6,600
3V2
17% Jan
77%
--
2%
24%
9%
9%
1,300
16%
16%
100V2
8,500
9%
800
1%
700
2%
2'A
24>/2
24'/2
9%
•
/"'•
•
...25'
•
i
•
4% Mar
21
100
Jan
Jan
Jan
17%
100
9%
•
—
1%
—
12%o
Corp
25o
common
31/3
__
100
9'A
32'/2
1
3
4%
Inc
3y4
Jan
800
9
Jan
240
100
Mar
150
12
12%
12%
5%
6%
1,500
%
%
1,000
2%
Voting
trust
Calamba
dep rets 5%
Sugar
California
50o
50o
pfd
4% Apr
17% Mar
26
80 y2
2%
May
Apr
Apr
24% May
Jan
~9%
Feb
14%
Apr
17%
Jan
97%
Feb
104%
Jan
9
250
:
-
9y8 May
12
Jan
33
Apr
32%:
25
31%
Feb
1%
3JA
4%
4,200
1
Apr
1%
Jan
1,800
3
Apr
4
Jan
200
—
4%
Apr
5%
Jan
85%
30
2%
400
2%
6% May
Feb
Jan
Jan
14
Jan
1%
400
2
Mar
84
2
:
Jan
86 y2
Feb
23
Apr
% Mar
Jan
2% Mar
/4
!
29% Mar
7%
•
!, 24
Apr.!
8%/Mar
281/2 'Mar
25%
26%
3.000
1%
1%
4,700
%
Jan
1%
Feb
7%
8%
1,600
3%
Jan
8%
Apr
4
8%
4
3% •Jan
4%
Apr
100
Apr
10%
"2% "2%
2
11
U
22%
20%
22%
7%
7%
2,700
Jan
14
Mar
Jan
2% Mar
24%- Apr
2%
25% Mar
%
50
Apr
]| Jan
10
Feb
14,800
19%
Apr
.23% Mar
2,100
3%
Jan
8% May
2%
Apr
3
Feb
8% May
9
May
11 %
8
Jan.
M%
1%
100
37%
36%
37%
2,700
17%
16%
17%
750
15y2
jan
18% Mar
35
35
10
33 Vb
Jan
36
1
—5
50
Dvjay Stores.—
Dennison Mfg class A common
714
8
600
6% Mar
8
4%
4%
200
31/2
$6 prior
preferred...
Derby Oil Si Refining Corp
A convertible preferred
Gasket
6 %
preferred.
&
•
•
.1
com
i
Mfg.
i*
Foundry
Gray
Iron
Detroit
Mich
Stove
Detroit
1
]
10
10
Steel Products
common—..
preferred
7%
Shoe
Diamond
Co common
<,
65
6%
tr
Jan
1% Mar
iy8
lVa
200
Jan
3%
100
3% May
6%.
10O
5%
Apr
6%
500
5%
Jan
7% Mar
5%
5%
1,300
4%
Jan
6%
Jan
Jan
Jan
5%
Jan
Mar
Mar
May
4% Mar
77
Mar
124% May
71/4
Feb
Feb
6%
2.800
210
73
Jan
79%
Feb
Jan
13% May
20% Feb
13%
13% r
100
12%
20
20
100
19
%
Jan
lVa
Apr
4i/8
Jan
V*
7/0
1.200
3%
4%
5.400
3y4
Jan
200
20 '/4
Jan
23% Mar
22
Jan
25% Mar
10%
4%
21%
22
.
Feb
10%
Feb
13% Mar
14%
Apr
13
•
14
Feb
Distillers. Co Ltd—
rets ord reg—.....
Corporation
£1
1
Am dep
Divco
Dobeckmun
Co
...
.1
1
common
Domestic Industries class A. com
1% ~5%
Steel & Coal B
Mar
Jan
Jan
200
5% May
7% May
13%
Feb
6% Mar
23
22%
23
600
22% May
67
67%
200
67
Feb
72% Mar
26%
Feb
29%
79% Mar
6%
.10
Co
Feb
61/2
25
*
Corp
Jan
74
——
•
4%
3
Sulphur
-v
Feb
300
3%
Jan
Jan
May
6% Mar
7%
Feb
Jan
—
Hosiery class B common..
Texas
1.500
23
Bridge Co Ltd
Dominion
Duval
7%
67%
Dominion
Dominion Tar & Chemical Ltd—
Draper
7%
5%
10%
7%
10%
—
4%
300
21/4
10%
100
91/2
Jan
3
3% May
7% Feb
6%
26
5% Mar
3%
Jan
10% May
1% Mar
3%
37% May
Jan
78 V*
6%
74
10
—.....;
common.
Jan
.
113
—20
—
Detroit
De Vilbiss Co
—'
100
debenture
8%
17
24
.35
convertible
A
Driver Harris
6y2
__
Estate
Electric
Tungsten
__1
Power,
_i
,
[Camden Fire Insurance Assn
footnotes
see
6%%
page
„
.10
.
Corp
Canada Cement Co Ltd
3%
£1
'
For
%
Feb
Wireless—
&
American
Callite
certificates.
~i%
85
85
Duro Test Corp common...
•
"1%
1%
106% May
13% Feb
Apr
5%
12
1%
_B
•
1
Rubber Mfg—.....—i.
Dayton
Duke Power Co
Cables
4
May
10% Mar
D
Durham
Cable Electric Products common
106%
1Q5
2.50
-fl
common
(Mo).—
Detroit
Apr
•
16%
2.50
...;
2,300
9%
*
Darby Petroleum common
Davenport Hosiery Mills..
Class
1
rets
'3%
Apr
•
preferred
3%
9%
Feb
10,600
.
5
common
Corp Am dep
Biirrv Biscuit
3%
9%
Apr
2
May
11% May
Feb
4,400
12%
108
__
■
Jan
2
Jan
11
...;
Power—
Jan
9'/4
'
25c
25
•
10
5
preferred—
Crystal Oil Refining common.—
$6 preferred
common
•
Sullivan
International A
convertible
Tobacco
common
&
"
Cuban
1
preferred
Hill
Cork
Crown Drug Co common
3% Mar
Buckeye Pipe Line
Bunker
Petrol
Jan
..I
preferred—..
Jan
11/2
1,800
5
•
(Md)
Cent
1
Brack Silk Mills Ltd
$1.60
115
1141%
1,000
■
Feb
36J/aMar
8% Apr
Jan
11%
2
•
Crowley Milner & Co
10%
300
i.»
Buffalo Niagara & East
6
Jan
6V4
11 y8
1
Co
1%
Distillers
Co
Brewing
Croft
1%
preferred
Brown Rubber Co
32
400
Apr
1101/2 Mar
Jan
-v>.
<•
Sugar
10s
prior preferred
225
dep Teceipts (ord reg)—£1
PetroleumiS..
5
400
A
Brown Fence & Wire common
36%
6%
6%
American
Atlantic
£1
...
Brown Forman
Courtaulds Ltd—
Creole
Cuban
£1
class
,35%
jan
117%
Feb
4%
1,800
6%
1
17% Mar'
•
reg
Power
4%
50
350
Ltd—
Columbia
105
4%
12%
—
common
Jan
Co
reg
10
108
4%
106%
preferred...—
Petroleum
convertible
12%
•
dep rects ord bearer
Am
108
Mar
113y2 "Feb
36%
■>
Feb
69
40 *
116>/4 117
108
5
Feb
63%
*
preferred A
Jan
1%
►14%
Tobacco-
British
2,500
11%
1
•
6j/2
common
;
66%
50
—.—....
Reynolds
&
300
•
___•
—
Oil
Copper Range Co
Cornucopia Gold Mines
Inc d——
;
Coro
Jah
Apr
preferred
prior
47
13
100
American
7%
Cook Paint & Varnish Co
% May
.*
A
British
Apr
4% Mar
%
*
British American
Feb
..
23% May
131%
25%
...__...l
?—
preferred
Brillo
Jan
'11%
1
.
Apr
Fdy & Machine Co
._*
& Pwr
65 Va
1% Mar
33y2
Jan
4
300
•
9
May
14% Mar
Jan
8%
11%
4%
•
Jan
1,600
100
4%
•'v.
Jan
Continental Gas & Electric Cc—
127%
900
4%
100
Cont
11% Feb
% Mar
1
Co—
May
2%
3,100
9%. Jan
33 y2
10
•
10c
—
May
5%
13%
_
B—
12%
2%
94% .-95
100
....
common..
class
Textile
Consol
Oil
Corp
4
.*
Bridgeport Oil Co
Corp
Steel
12%
■
1
100
Royalty
*
•
Bridgeport Gas Light Co
Brill
;
5
..1
preferred
8%
Consolidated
46
12%
•
.
Aeronautical—
Brewster
11%
2%
•
.25
common.
Traction Lgt
Corp
II
7% "V 8%
/
100
preferred.
Brazilian
Mining & Smelt Ltd
Consolidated Retail Stores
Consolidated
70
21
'.V
•
1st preferred
2d
$5
'
8%
2%
...
.,16% Apr
1
Utilities
Gas
Apr;:
12
1
Borne Scrymser Co
7%
preferred series C
Consolidated
Mar
Jan
150
100
100
preferred—
Apr
35
%
12%
71
3a
100
21%
66 V4
Jan
14'% Mar
100
%
Jan
3/64
common.
4%
25'
3%
'
:
Feb
30
..1
Co common....
Inc
1,700
130% 130%
Mach Co com—•f
& Co
Bowman-Biltmore
4%
22%
22%
l.—
1st preferred
Bourjois
Feb
1
optional convertible preferred
Bohack
Jan
3%,
6%
•
1
.
common
(8)
7%
Jan
•
Ridge Corp common.
Blumenthal
Jan
2,
r
100
common
common
(E W)
series B
47% Mar
May
21%
1
Co
2%
1
Canada.*
Birdsbdro Steel Fdy &
Blauner's
6y8
65
20
common
Convertible preferred
Berkey & Gay Furniture
Bliss
100
800
1
Hedges common
Bickfords Inc
Feb
2%
13
'
Bell
40%
6%
10
convertible preferred
$1.50
Bellanca
Jan
3/64
•
preferred
25Mar
100
common
Jan
3
•
•
Ties
Mills Inc
Beauni:
Feb
9 '/a
Apr
56 %
1
Feb
Feb
6%
25
Service—
Consolidated
1st preferred
7%
Beau
.
3%
10% Mar
1
Public
14% May
V'6%
4%
141/4 Mar
Jan
35
470
Jan
40%
4%
17% May
2%
4.850
63%
9%
40 %
1
Feb
Jan
4% May
6% Apr
500
35
200
20%
,
2% May
3,000
2%
64
14%
6%
common—
7%
2%
38%
Community
Biscuit
Apr
61/2 May
37% Jan
11%
1.400
100
&
Jan
Jan
.
Community
6%
Refractories Inc
Basic
5'V
7%
Compo Shoe Machinery—
V t c extended to 1946
8
common
200
4%
"2%
warrants
Arms
Jan
7/a
31%
1.400
~2%
Mar
22%
Jan
10
5
& Electric—
Commonwealth
17%
Mar
7% Mar
9
,
Jan
%
175
10% May
103
11
1
Fire
Gas
18
•
preference
.
34%
2%
~2%
•
Airlines
Columbia
34%
34 y4
ordinary
Colorado Fuel & Iron
850
•
100
Co
common..
Development
Colt's
;•
common
Co
14,900
4
•
Corp
Utensil
Aluminum
2,200
16%
Illuminating
Cleveland Tractor
Coal
...
Jan
Mfg—
convertible
$1.20
Jan
20%
Apr
400
2
109% Mar
Jan
II
9%
22%
—1
—
Jan
8%
85 Vb
20%
Co
Lights Inc
Clayton & Lambert Mfg
Neon
,
23 %
1
common.
Corp
Seelig
92 %
1
4
Claude
Feb
.30
___
17% Mar
1
Controller
Clark
4%
preferred
Feb
Jan
Consol G E L P Bait
6%
13%
7
May
21%
common
53% May
Feb
21%
Baldwin Locomotive—
for
A Mar
Jan
6%
150
B
warrants
Jan
200
$3
Purchase
Jan
%
7%
22
8
8% Mar
6%
.
7%
...
102 y8 104 y2
Apr
17%
•
100
*
10
Consolidated
Babcock & Wilcox Co..—————•
fs
10
•
Conn Gas & Coke Secur common
Avery
350
8
7%
100
Colonial
Feb
8
•
99%
Apr
4%
Mar
9S%
10% May
3%
93
•
45
200
Jan
10
Apr
1,100
82
10
Colon
5%
May
104%
Feb
4%
115
•
Feb
Jan
Jan
•
12%
8% May
Jan
97
250
92
1
common...
preferred
preferred B
$6 preferred BB
City Auto Stamping
City & Suburban Homes
80
2
Jan
150
«
60c
Jan
12%
90%
5
;
Jan
8
14%
13%
113% 115
4
Mining
9% May '
8% Jan |
7% .Apr
7y8 Mar
25
;
Feb
°
.
5
i
;
Jan
6
10
Jan
May
116% May
% Mar
Apr
%
2,700
32,400
$6
Jan
Jan
7
15%-
Cockshutt
1 % May
5%
■
Jan
10
14
Club
9%
8%
u
9%
%
■
.1
9%
Jan
8%
400
Jan
4%,
99% Mar
15%
Clinchfield
2,400
1,300
10
12% Jan
21
Jan
97
140
10
Service
Cities
Feb
4,300
7'% May
49%
Apr
1%
3,300
42
1%
8%
7%
97%
Jan
45%
3
11%
3%
May
3% May
..100
Jan
75
9%
—
7V2 May
10
20
800
—
Feb
4% Mar
100
500
112
50c
§Childs Co preferred
-
10
10
%
11
20 y2
100
*
common
Consolidated
Chief
Feb
Mar
110
3%
3%
3%
pfd
—
Chicago Flexible Shaft Co.
Chicago Rivet & Mach
Jan
Jan
18%
Jan
7%
West Utilities
Co
Cherry-Burrell common
Chesebrough Mfg
Mar
3%
8% Mar
X9%
X9%
Jan
6
16% Mar
97
1
Charis
4 Vb Mar
Jan
7%
pfd__100
Proaucts—
& Light
Power
Corp
Feb
12%
1,500
3%
•
com
Chamberlin Metal Weather Strip Co..5
Jan
106%
Steel
A'rcraft
Cessna
May
111
11
Jan
111
Jan
4
2%
1
Products
Jan
105 % May
500
•
Corp
Plywood
Jan
3%
•
Forge common
Automatic
10%
107% 108%
17s/2
warrants
Drop
Ohio
Coast RR Co pfd__100
&
Atlantic
Atlas
New
Central
Elec
&
Jan
117
Jan
20
3%
.1
Power 5%
York
Central
2%
£1
Fisheries
Atlas
-
America..
Gas
Apr
46% Mar
26
Cleveland
reg—
Coast
Hudson
of
14%
14
•
.
Tel & Tel class A
Atlantic
1% Mar
Corp
Central
'
•
Associated Laundries of America
Atlanta
Cat,aim
Feb
91/8 May
48%
8% Mar
14%
10
& Co
Jan
4%
-4
Associated Electric Industries—
Associated
(A M)
Apr
10,500
I'd
14 Ve
1
Refining Co
Associated Breweries of Canada
Products
25
Jan
May
114 y4 Mar
1
300
7
105% xl05%
ft
5
&
Co com
22%
4%
%
105
2.50
new
common
W)
(J
Apr
108%
10
116% 116%
•
1
....
Feb
13%
Feb
7%
41
150
41
41
Jan
2
Jan
X23
•
:•
144
jRn
.*
preferred
5,100
14
13%
*
non-voting
Jan
A
....
Corp
1%
•
common
Castle
Feb
94% May
Feb
1
10,900
1,900
26
4
10
Arkansas Power & Light $7 preferred.*
Aro
1%
88%
.20
class
Co
Casco
*26% Jan
43
Co
&
40
preferred
6%
94%
Apr
Jan
5 Vb Mar
Jan
12 V*
100
1%
1%
1
Products
Carter
18% Mar
16% Feb
35%
City
Carrier
5% Apr
144
Carolina Power & Light $7 preferred..*
Mar
Feb
Feb
4% Mar
100
Class B
$6
21% Apr
4%
Carnation
Jan
14%
25 VB
;•
Gas common
class
Common
43%
25%
1
————
Arkansas Natural
Jan
50
26
•
100
.1
pfd
Jan
41JA
100
100
2
.
Carman
6% Mar
37% May
Jan
15%
...—
Fence
Mar
111
Jan
5%
29
17%
.1. '
l'/a
"
Anchor
Capital
107
*
common
Apr
34%
94 \'-i
Republics
Seal-Kap
Canadian Marconi
28%
,25%
•
.
Chemical
17% May
15%
--
10
-2
American Superpower Corp com—_10c
1st $6 preferred
•
$6 series preferred
——1•.
American Thread 5%
preferred
fl
American Writing Paper common
•
American
American
fltfa
Jan
•
preferred
7%
Jan
29
17
29
1
Co
&
Low
21
25
21%
•
Jan
1%
21%
Industries Ltd—
Canadian
Jan
100
43%,
—
100
Preferred
American
Range since January 1
Alcohol—
voting
41% Feb
40%
25
.
5,000
■
American Meter Co
Shares
High
Low
25
voting
non
26%
—
43%
<
—
Maracaibo
Feb
A
Class B
Feb
36% May
% Apr
600
—
—
Laundry Mach
Light & Trac common
American
Class
2% Mar
45
preference
Industrial
Canadian
41% Mar
Jan
Apr
2,200
38
1
x27% 27%
109% 110
6
6
—
20
American
25
6 % preferred—
.——25
American Mfg Co common
100
American
-
Rubber Co
Hard
27%
110
.10
$2.50 convertible
American
35 y2
38%
37 %
II
—
100
,10c
1
1 /
common
preferred
preferred
convertible
950
1,300
Participating
44% Mar
15%
preferred
American
38% Jan
common
Gas & Electric
American
$2
Hoe
500
41%
39%
2%
—
37%
non-voting.
American
4%%
class A
Cyanamid
Class B
for Week
Range
of Prices
Par
tim a
Sales
Week's
Last
Exchange
Canadian Car & Foundry Ltd—
1
Convertible
Low
Hiah
Low
Curb
Sale Price
& Light—
Power
York
New
Range since January 1
Shares
of Prices
Friday
STOCKS
Sales
for Week
Week's
Friday
STOCKS—
York
New
8
pfd__100
2109.
5%
Jan
East
Gas & Fuel Assoc common
V/2%
6%
prior preferred
preferred
Eastern
Malleable
Iron
:
2% Mar
•
•l'/a
1%
1%
200
1%
Feb
100
65%
65%
G6V2
550
56V4
Jan
10
Mar
36 %
825
32%
Jan
40
Mar
jan
28
Mar
100
—25
35%
34%
241%
THE COMMERCIAL &
2106
EXCHANGE
NEW YORK CURB
MAY 19
RANGE FOR WEEK ENDING
Week's
Sales
Last
Range
for Week
Exchange
Curb
York
States
Eastern
—•
Corp
%
13
38
37%
[36 %
37%
33%
Jan
35%
100
Jan
300
83%
Jan
93% Mar
1,400
88%
Jan
95
600
46%
Apr
65%'Mar
325
30
Inc—
Eureka Pipe Line common
Eversharp Inc common
12% May
5%
8%
Jan
11%
Metallurgical
Fansteel
Mfg Co
Fedciers
10%
1
;
1
1
"
.& Airplane
9,400
2
7%
Jan
1%
12%
Jan
14%
Feb
200
5%
25% Mar
63
800
4%
20%
20%
700
19%
Feb
"
Motor of France—
Amer dep rets bearer
Fox
iPeterj Brewing Co
Jan
Co
(Geo A)
stock—
conv
Jacobs
Jan
Co
Power
450
3%
17
13
16% Mar
18
Jan
.Jersey Central Pwr
10%
14% Mar
Jacobs
85 % May
Feb
3
Jan
37
Feb
45
Jan
x68
Alloys
General
•
Co.
General Finance Corp common
1
3%
3%
preferred
convertible
$6
Water Gas & Electric common
Gen
preferred
S3
Georgia Power $6 preferred
preferred
$5
(AC)
Gilbert
common
Preferred
Co
Gilchrist
Gladding McBean & Co
Coal
Aldeu
Glen
preferred
Goldfield Consolidated
Mfg
Goodman
Mfg
——.
»
common
stock
Mar
700
1%
Feb
2 % Mar
390
75%
Jan
84% May
Jan
12
May
75
41%
Jan
48
May
Mar
Jan
100%
10
112%
;
—
11
May
13%
13%
40"
15%
Apr
37%
Feb
Jan
.1
-
11%
32
~7%
70
Apr
30% Feb
32
Jan
7
Mar
4%
Jan
300
7.
Jan
275
136
*
7
7-
~3%
■
3%
Jan
•
136
Co
3%
...
Line
Horder's
Hormel
Horn
29%
Jan
33%
Jan
6%
Feb
7%
Jan
Horn
& Hardart
Horn
&
5%
•
4%
Feb
3% Mar
100
Apr
Mar
■i
111%
Apr
Inc
Fibre
Ligonier
Co
50
20
50
Mar
47
Jan
Feb
1%
Jan
4%
5 %
conv
Dividend
200
3%
3%
200
2%
5%
200
5'A
Apr
100
26%
Apr
100
3%
Jan
_5 %
§9
4%
4%
29
4%
41% Jan
7%
7%
x7%
6%
1.500
Jan
47
For
10
Jan
19
100
11%
Jan
12..
12
9% Jan
300
26
21%
22%
Jan
12
200
Mar
14%
*
18
18%
600
18
28
28%
28%
400
24
9%
9%
10
;
Jan
May
Feb
12
28%
Marion
100
.2%
Jan
50
87%
Feb
-
95
Jan
Feb
May
100%
120
92
Feb
100% May
10
100
Jan
106%
Apr
18
Jan
20%
Apr
99
105%
-
19%
19%
100
10%
10%
400
9% Mar
10% May
200
9%
Jan
17%
Jan
111%
Feb
111%
Feb
.
■'KmMtr
2 7'A
111
4%
111
5
Jan
3% Jan
25%
50
111
20
17%
Apr
Jan
Jan
Apr
38% Jan
4
500
Jan
'
Mass Utilities
May
—
•
1
45%
Jan
55
1,400
2%
Feb
3
2,200
4%
Jan
5%
Mar
1,100
% May
%
Jan
500
,15% Feb
16% Mar
Mar
12% Mar
50
1
%
15%
*
16
12
::io
8%
-5-1
30%
Feb
13
Jan
40
May
4% Mar
119
Apr
27% May
113%
Apr
20% Mar
44
May
5% Mar
Jan
8% Mar
3%
Feb
20%
Jan
28%
Apr
—
Jan
13
6%%
Jan
Jan
9%
12%
9%
49%
1,140
37
Jan
52% May
' 13%
2,100
12
Jan
15
Jan
2%
Jan
3
Jan
2%
Jan
Feb
52%
14%
V 2%: ,2%
3% ' 3%
-
-
,
200
—
—
Mar
A
■
Mar
5% Mar
Feb
35% Mar
3%
400
.3
29'%
30
25
Ja
1%
Jan
u
.-%
1,300
io%
400
24"
24%
100
"2%
300
1%
18%
Jan
Jan
Jan
20%
.
2%
8%
;
-
29% Jan
11% Mar
10
Apr
Feb
11% Feb
22%
Feb
25
Apr
2% May
Apr
100
15
Feb
17
Apr
8%
4,700
8
Jan
9
May
Feb
1%
8%
,
:\i
67%
61%
'7%
7'%
113
113
60%
,"7%
-
—
25
,
51
49
Jan.
20
27%
1%
1%
7%
113
Jan
100
May
28% Mar
26% Mar
600
7%
109%
400
27%
27%
7% May
6%, Feb,
7,700
Jan
69% Mar
61% Feb
Jan
750
67%
•
61
11
1,600
%
67%
—.
—J
1%
Mfg Co—
•
*
•
*
—•
—•
50
—10
common
—
Apr
Apr
Mining Corp of
11%
Jan
Minnesota
—
&
& Mfg—
26
;
—1
•
•
Jan
Jan
7% May
iS Jan
1%
7
7%
200
6%
Feb
7%
Jan
4
4'%
300
2%
Jan
4%
Feb
9
9%
1,600
8% Mar
10%
~9%
Jan
157
157
6%
6%'
S
300
1
70
4
Jan
138
600
Jan
4% Mar
100
41
Jan
62% May
6%
200
6
Jan
3%
8
Feb
Jan
1%
Apr
99% Mar
103%
%
ioo
2%
t
•
100
ioo
2%
3%
42%1 42'A
"
3%
-
2%
3%
2%,. 2%
•;3,400
1%
Jan
500
2%
Jan
2,800
6%
900
6
May
42% May
Mar
116
3%
5%
Apr
Jan
Feb
II Feb
7%
Jan
5% Jan
Jan
2% May
H Mar
100
6%
■
4
,110 * Jan
2% Apr
300
u
■
Jan
36
10
4%
U- -"
Apr
159
61%
Feb
7% May
7%
7%
12%
12%
2,600
8
Jan
Z3%
3%
3%
6,000
1%
Jan.
10%''
10%
10%
7,000
9%
Jan
11% Mar
9
Jan
10
20
Jan
23%
23%
...
20%
21
200
23%
25
1,425
1%
2
1,400
,,
.
12% May
3% May
Mar
■
Apr
8%
8%
700
2%
■
2%
2%
900
115
62
1%
63
400
125
Apr
26%
Feb
1% May
2%
Jan
8%
Jan
8%
Apr
15%
25
Supply
Canada—
Mining
Feb
Mar
1
7%
'7%
class A v t c_l
Class B v t c_.
'—1
Middle West Corp common—-^.-5—5
Midland Oil Corp $2 conv preferred—*
Midland Steel Products—
•
$2 non-cum dividend shares
•
Middle States Petroleum
Co
Feb
33% Mar
4%
!—-——10
Micromatic Hone Corp-^
Refineries
Jan
81
19
—*
1
———100
Abrasive
8% Mar
Jan
33
—
Preferred———!
Feb
:—
Scott—:
&
2% Mar
Jan
5%
81
•
—•
"
15 %
9% May
May
Feb
26% May
Co_——————1
Metal Textile Corp.—_——_25c
Participating -preferred-!——15 Metropolitan Edison $6 preferred—*
Michigan Bumper Corp new———I
Michigan Steel Tube—————2.50 :
Michigan Sugar Co—
—5
—*
9% Jan
150
13
26% Mar
6% Apr
Jan
.16% .16%
preferred
43% Jan
,700
3% Mar
110
Feb
9% Jan
200
13
3%
V
Messabi Iron
Piping
8%
....
800
5%
-
—
Oil
3.000
Apr
9% Mar
29%
common—,
Chapman
Midwest
13%
10
Feb
13%
Jan
—5*
Stores
Mid-West
48%
95
Feb
1
3%
Association v t c
Apr
4% Jan
8%
Feb
7%
J
optional warrants
49%
6.100
7%
Mar
12%
-
Johnson & Co„
Merritt
Mar
6%
IOO
Jan
106
84%
3%
2%
11%
Apr
20
Jan
-10
61%
100
11%
9%
Feb
Jan
TOO
•
500
500
Jan
100%
16
380
103%
102
102
TOO
6
7%
24
Feb
10
3
5%
%
5%
.21
Dredging——
McWilliams
Jan
2%
22
Feb
66
2%
„_1
...
Jan
5
50
TOO
13
Harris common——
McCord Radiator & Mfg B——
Apr
7%
48%
8%
.100
Mercantile
-i—.
—
56
105%
Massey
May
2%
24
Feb
124
Jan
)~
-100
Memphis Natural Gas common.:
10%
33
i—
200
~7%
121%
Mead
15%
12% Mar
.
'
■
*
13%
2% Mar
105% 105%
'9.9%
3%
Steam Shovel———
Midvale Co
T
7'A
2%,
16% Mar
22
9% May
■
5,800
2109.
3%
Jan
800
24.200
95 ;
22% May
13% Mar
2,100
100
15
15
19
•
Dage
Apr
9
10%
Warrants
"—50
see
2%
5
3%
',7%
.
2%
•—V
Margay Oil Corp
13% May
44
mils
—
1 % May
munication
May
100
19
ctfs
footnotes
Jan
International
Marine
Com¬
Co Ltd—:
Marconi
7% Mar
19
42%
Co
Mar
%
Jan
10%
Consolidated
Mapes
Jan
5% May
13%
44
1
arrear
...
20% Mar
17% .Jan
600
95 '
52%
Mangel Stores—™
$5 convertible preferred-Manischewitz (The B) Co—
:
6 % Mar
30
13%
——•
preferred
3
common
Midwest
Hiinois Zinc
Feb
Jan
Jan
.
M
Apr
1%
19
common
% Mar
1,800
6"'..
—
Corp
Mid-West
Illinois Power Co
6%
Material Co„
ManatI Sugar
Feb
1%
111
—III
Hydro-Electric Securities
lygrade Food Products
Jan-
8%
,
Jan
Mar
1%
~1%
111115
Huyler's common
1st preferred
1%
•
:;1%
1%
Mar
5
24
27
•
Hussmann
8
Jan
8
Corp
12%
7%
8%
:
preferred class A—
preferred class B
Louisiana Land & Exploration—
Louisiana Power & Light $6 pfd
5% Jan
119
•
Hummel-Ross
25%
Jan
,
100
20
i%
6%
50
::::ii
;
& Refining
Feb
-350;
1.000
20
7%
xl9% Mar
—100
(Harvey)
48% May
/Feb
.
'
Long island Lighting .Common--
Jan
114
450
5
—
preferred
Hubbell
•Humble Oil
'. Feb
24%
200,
.
■% :;~
Lone Star Gas Corp. new common-
200
7%
Baking Co—:—
Hardart
44
•1
v.: 7,
'
23
7%
:::::*
—
Jap
fff Jan
32% May
•
Locke Steel Chain——
22%
23
& Co common- mi z*
Co common
Mar
aa
'
Lipton (Thos J) Inc 6% preferred
Lit Brothers commonLoblaw Groceterias Class A——.
Lynch
7%
5
Inc
(Geo A)
(A C)
Feb
2,
•
>■'24% Apr
25
32%
32;.-
48% "48%
48%
common—
Lionel -Corp
16
common
Jan
Jan
8% Mar
,
800
32.'
(R G) Inc—
Le Tourneau
Mar
500
•
110
—
Consolidated G M
Holophane
*
18% Mar,
100
24%
'.vVlo",
14'.-
Development
Oil
Leonard
93% Mar
Jan
132
108%
—
Hollinger
24% j
(N J)—
preferred
Convertible
Feb
11%
1,750
.32% x33
33
84
50
90%
90%
—.——*
Heller Co common—
2
Preferred
25
Henry Holt to Co participating A
.*
Hewitt Rubber common.....
5
Heyden Chemical common..
2.50
Hoe (R) & Co class A
10
A
100
too;
.1% ,1%
.
9% Mar
19%
19
,.
7% May
l'/e Jan
Langendorf United Bakeries class
Apr
Jan
400
—
Lefcourt Realty common—
Jan
6%
:
9
133
133 :,
0
*
Rubinstein
~t%
•
-
—
Co
RR
Lane Wells Co
Jan
56
9
6
/
:
.-
Class
Apr
'.r7%
Lakey Foundry & Machine——
Lamson Corp of Delaware—
Lane Bryant 7% preferred——
Apr
%
% Jan
50
69
32
.
6%
9
Hammermill
Helena
Apr
Inc__
Brewing
Lackawanna
106% May
10
69
Ltd.
Paper——-———10
Hartford Electric Light—
-25
Hartford Rayon voting trust ctfs
1
Harvard Brewing Co
_1
Hat Corp of America B non-vot com—1
Hazeltine Corp
;
•
He am Dept Stores common
5
6% preferred
,
50
Hecia Mining Do—
—25c
Hamilton
16'A
16%
Lake Shore Mines Ltd
40% Mar
Apr
.9
1,200
III*
Co—
Bridge Co
3,300
17% May
—
:
common—;
Stores
Kreuger
Feb
~5%
32
-25
Lamp
18%
5
preferred—
Kresge Dept Stores— ■
.:V;;
4% convertible 1st preferred—
Kress (S H) special preferred:
H
Hall
17%
.100
;
Koppers Co 6%
11% Mar
104
700
%
ft
:
.
liic
preferred
Gypsum Lime & Alabastine
Jan
Mar
Feb
13%
250
9%
9%
106% 106%
Kobacker
Mar
16
4,900
40
38%
9%
Stores Products common.
—*
Utilities $5.50 pfd
States
8%
7%
15% Jan
51% Mar
Jan
10%
13%
Knott Corp
Jan
9%
•
$6
100
1,300
10% Mar
15
106% May
51% Mar
—
Greenfield Tap & Die_.
Gulf
Apr
1
Inc
.
May
78
111
TOO
Northern Paper
Grocery
93
Jan
—73%
8%
—fl
—
.
preferred
1st
7 %
Great
120% May
fc Pacific Tea—
Great Atlantic
Non-voting
17% Mar
Jan
Apr
48
48
TO
—
Varniahu
Mfg Co_
Gray
Jam
14%
;
common
Grand Rapids
8% May
84%
'
x82
84%
*"•
preferred
$3
Gorham
17'%
Apr
12%, 13%
7% preferred-
Kimberly-Clark 6% pfd
Kings Co Lighting 7 % pfd B_—
5% preferred D_—___—.—Kingston Products—
——
Kirby Petroleum
i
Kirkland Lake G M Co Ltd
Klein
(D Emil) Co common
Kleinert (I B) Rubber Co—
Mar
.50
Co——
; 16%
,:8%
100
100
~
Ken-Bad Tube & Lamp A
May
•4
1%
1%
1%
III
Mines
14
IS
106%
class A
Gorham Inc
Jan
Feb
74
II*
$7
J)3—— -10
93
——
40
class A—
Godchaux Sugars
Jan
••
Key Co common—
Apr
3%
115
•
•
•
-
1%
iif Ian
G00
17%
17
17%
1
•
1
•
•
•
•
•
Corp com
Feb
Jan
preferred B
•
General Outdoor Adv 6% pfd—,
100
General Public Service $6 preferred—*
General, Rayon Co A stock—
General Shareholdings
7%
2%
.—
Kennedy's
May
3
12%
& Elec $6
.las
Gen
77
Jan
200
3%
•
General Fireproofing common
Feb
1%
400
10
preferred series A—
5%
1
£1
__ 1
dep rets ord reg
Amer
200
8%
18
&'Lt 5%% pfd—100
preferred
preferred
—;
Julian & Kokenge Co-
Jan
8
Feb
70%
300
2%
2%
Co Ltd—
Gen Electric
17% Mar
'
6 %
Mar
7%
S
1
common
84%
Jan
Mar
K
100
preferred
5 %
Gellman Mfg Co
Feb
14%
1
(F L)
7%
Mar
58
•
common
77%
500
-5-1
Engine,CoJj;..
Aircraft
500
3%
16%
12%
3%
2%
Kansas Gas & Elec
Gatlneau
650
1
Jan
-.,—100
preferred
Feb
17
A
4
—
^convertible
4%
32
83
:
—1
trust ctfs—*„,
Feb
400
16%
*
Jan
16%
17%
——
Italian Superpower
Jan
70%
150
13
Froedtert Grain
27
80
10
*
*
Co
:——
Jeannette Glass Co.
85%
82
Distilling,—
1
& Malt common--—1
Franklin Co
50
1% May
21% Mar
Apr
2
o
Apr
20% May
19%
20%
1
8%
shs„•
Irving Air Chute
Feb
4%
voting
Class. B
$3
4%
100
Feb
70
16%
preferred
Investors Royalty-—:
Iron Fireman Mfg voting
Mar
4%
*1
Ford
Fuller
Apr
Interstate
Interstate
25% Mar
56%
prior
Interstate
!
Feb
7%
preferred
$3.50
•
19% May
5 % May
Jan
83 ;
•-*
————1*■'.
Home Equipment-—-—-1
Hosiery Mills
—*
Power $7 preferred——*
$1.75
Jan
600
Co—25
-10
& Warehouse
Fire Association
(Phila).———
Ford Motor Co Ltd—
Am dep rets ord reg
Ford Motor of CanadaClass A non-voting
,10% May
2%
Jan
66%
30%
'
——
Registered shares.:
International Products
;
International Safety Razor B
International Utility class A—
Mar
23
110
Jan
30%
.
International Petroleum coupon
15% Mar
~—---—
Federal Compress
Apr
Jan
14%
19
Warrants
Apr
2,500
14%
IB
5 %
6%
■
Feb
18%
2,000
10%
.'1%
Mar
23% Mar
Feb
Mar
42%
30%
International Metal Industries A;
International Minerals and Chemicals—
34%
Jan
31
3,500
22%
9%
IVo
18
4%
50
Argus Inc
changed to
Name
Apr
Mar
38
Jan
106
80
53%
Jan
International Industries—
1% Mar
1 % Mar
31%
,500
34%
21%
22%
-
5%
34%
34%
Inst Co—
Fairchild Camera &
300
37
Feb
"1% 1%
.50
series
$3.50
Preferred
Jan
Jan
1,200-
1%
1%
Esquire
Fairchild Engine
Falstaff Brewing
11% May
116
Jan
10
Apr
II n
•
Machine——
International Hydro Electric—
Jan
46%
53%
preferred—
————100
of North America.
10
7%
Jan
9
22%
•
—-——100
common—!—l
International Cigar
12%
10
109 \ 109
109
Insurance Co
Apr
103%
300
11%
11%
36%
Industrial Finance v t c
Mar
8%
30
common
convertible preferred——,—
$3
33
Jan'
8% Jan
7,100
Electric 6 % pfd—
Power participating stock,
Derrick & Equipment——,
Equity Corp
*
10%
8% Feb
300
preferred.—
7%
Feb
1 % Mar
% May.
ioo
.
10%
6%
1-2%
Apr
300
10%
10
Jan
Apr
3,000
——w———!———£1
Ireland
.
5%
10%
11
11%
11%
11%
Indianapolis P & L 5%% preferred_100
Indiana Service
preferred——100
10% Mar
Empire .District
Emsco
15 % Mar
7%
Emerson
Empire
Jan
6
Jan
14% May
18,000
High
Low
High
Low
1
Range since January
Shares
of Prices
Par
'
Imperial Chemical Industries—•
Am dep rets regis
£1
Imperial Oil (Can) coupon.
-*
Registered '
—
*
Imperial Tobacco of Canada——5
Imperial Tobacco of Great Britain &
Jan
48% Feb
Jan
5
1,500
;
r
40% Feb
40% Feb
Jan
400
National Watch Co—
Electric Mfg—-----—
Elgin
33%
275
38
1
% Mar
75
38
•
preferred series A
$6 preferred series B
Eastern Sugar Associates—
$5 preferred v t c__.
Easy Washing Machine B—*—
Economy Grocery Stores—
Electric Bond & Share common—,
$5
preferred
««
$6 preferred—
Electric Power & Light 2d pfd A_.
Option warrants
Electrographic Corp
900
n
•
$7
:
High
Low
High
Low
Sales
for Week
Range
,
Sale Price
Range since January 1
Shares
of Prices
Sale Price
Par
Last
York Curb Exchange
New
Week's
Friday
STOCKS
Friday
STOCKS
New
Monday, May 22, 1944
FINANCIAL CHRONICLE
Jan
2
Feb
1% Mar
52
Mar
17
Jan
2% Mar
111 Jan
63
May
Volume
2107
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
159
NEW YORK CURB EXCHANGE
MAY 19
RANGE FOR WEEK ENDING
Last
Exchange
Curb
York
Range
Sale Price
York
New
-i;
Minnesota Pwr & Light 7%
pfd
100
;
.*
Missouri Public Service common..
10%
'
lOVa
10%
9%
1.500
3%
2%
2
2
3%
2
'
;—•
•
17%
Copper common....—5o
Mountain City
1%
Producers
Mountain
States
Mountain
Mountain States Tel &
Muskogee
Co
preferred
6%
May
10'A
Apr
Governor
Mines Ltd
Gold
Pioneer
2% Mar
7%
"
Pitts
Feb
Pittsburgh & Lake Erie..
Jan
Metallurgical
Pittsburgh Plate Glass
•Pleasant Valley Wine Co.,
Plough Inc common
173
Jan '..
18%
Feb
32
Feb
Apr
& L E
Bess
Jan
9 %
1%
Jan
1% Mar
;5%
Jan
6%
Apr
Feb
21%
Apr
Powdrell
20'
Power
20 v- '
'
50
Apr
131
Feb
Jan
16
Mar
127
.100
13%
50
9%
9%
<
11%
Jan
13%
100
6'%
Jan
10% Mar
13..,'/
13
9%
Mar
80
Jan
64
Jan
Pneumatic Scale
Pratt
—
Premier Gold Mining—
—
common
of America
of Nevada
—
Nachman
Corp
Hess
14%
1
common.....
7%
preferred
preferred..
Jan
35
35
Jan
44% Mar
41 y2
40
41%
150
14%
13%
14%
3,600
12
Feb
14% May
56%
54%
57%
1.550
50
Jan
58
Feb
11%
11%
2.900
11%
Apr
12
Jan
Jan
7
.
National Refining common
41%
Rubber Machinery
National
Steel
12.50
Union
Oil
Navarro
Radio
1
1,100
1%
Feb
1%
3%
Jan
4%
28%
500
26
Jan
60
110
May
111
85%
4%
Jan
6%
100
6
Tel & Tel
Idea Inc common.
6%
6
6%
*
100
preferred
New
57
275
57
56
Arizona
7%
Feb
9
Jan
Feb
•
47% Jan
7%
Apr
60% Mar
Feb
20% Mar
Apr
108% May
1,100
10%
10 %
10%
18%
18%
18%
200
54%
54%
55%
1,400
6%
Jan
II
May
Y
Auction
Co
N
Y
&
N
/■
104'%
13%
100
104% 104%
-
50
;
'
shares
6%
Service
Water
60
pfd
Mar
Jan
Jan
Jan
35
Mar
4
Mar
10% Mar
28
May
Jan
Jan
116% Mar
102
Jan
105 '/a Mar
13%
13
"Jan
17 % Mar
May
III
60
May
75
400"
14
Nipissins
Noma
14%
Apr
6%
78%
79%
700
74%
65
Central
_5%
600
11%
12%
3,300
5%
Jan
Ohio
Public
6%
1st
Apr
Jan
Jan
Feb
6'A
Jan
%
4,700
250
117% 118%
103
%
Jan
Jan
120
Feb
Apr
Filters B
Oliver United
27% May
31% Mar
31
Jan
52% Mar
%
5
Jan
4%
100
,
Jan
Mar
54% Mar
Mar
1
5%
Apr
8%
1,300
7
Jan
87
105
Jan
87
Jan
105%
90
104
Jan
108
Mar
113% May
7% Jan
116
Mar
110
113% 114
114
12%
13%
1,800
25
12%
25%
300
23
Co
Jan
110
1,200
3 %
May
250
3%
3%
18%
Jan
21
21
10% Mar
14%
Apr
27% Mar
;
Jan
112
Feb
115%
Apr
•
112'A
Feb
115
Jan
118'/a
108
Jan
112
Feb
23%
5 % Mar
18%
2,100
Jan
5% Mar
24
May
6%
Apr
7% Mar
8
Feb
9
6%
300
•
common
Jan
8% Mar
36%
25
&
1st
Public
33%
108 % 109%
Service.
Parker
Pen
—
—
.10
Reel
—_;—;!
Plymouth Mills
Peninsular Telephone common;
preferred
80
/
7%
1
Mar
.
A
:
Pendleton Inc
Roeser &
Cable
Rome
$6
Penn
Power
&
Light $7
preferred
Salt
Mfg
Penn
Traffic
Penn
Water
Corp
Pepperell
Mfg
com—
preferred
Co
For
•
100
13
Jan
10% May
1
,
•
common
page
101
Mar
5%
97
2109.
Jan
105
Feb
Jan
96 '/a
6
Feb
82
Mar
9
Jan
400
19
6%
6% Mar
8% Mar
200
2,800
37
5%
5%
*
100
9,900
24
Jan
31% May
16%
Jan
X20% May
32
30
x20%
_2
"
Jan
50
Mar
34%
Jan
37
Apr
Apr
33%
Jan
4% Jan
5%
Jan
101% 102%
.96
97
163% 164%
Jan
Mar
43
%
St
Lawrence
Jan
70%" Mar
43
1%
Mar
Feb
St
73^
10%
25
77
Apr
154
Jan
Jan
10%
Jan
1%
1%
1%
Jan
250
•,
Savoy
Oil
133
Schiff
Co
25
22%
"3%
Jan
15%
Feb
18% May
51% May
17%
18%*
50%
25%
-2,800
2'/a
2%
24,500
22%
22%
800
21%
Feb
24% Mar
11%
325
11%
Jan
12% Mar
3%
Jan
4%
Feb
Jan
14'/a
Apr
1,200
60
•
-
3,700
48
Mar
12%
Jan
3%
4%
13%
100
%
~2 %
%
800
2%
U May
2'A
2%
f!V«-
2'A May
%
107'/a
30%
1%- Apr
13%
%'
.
'
''
'A
100
90
107'/a 108
11
105% "Jan
Jan
-
3%
Jan
% Mar
108
Apr
Apr
Jan
15%
10%
2%
6%
2%
300
6'/a
6%
2,800
Jan
1% Mar
Jan
2'A
Feb
2%
13 %
5
Feb
12% Mar
Jan
6% May
Apr
Jan
Jan
Mar
19
18
Jan
8
Jan
9
Mar
500
3%
Jan
4%
Jan
5
Feb
5%
Afcr
1,000
3%
3%
1
"2
"2
*—1
1%
Jan
2%
Feb
2% Mar
4%
5
——)—100
1
Co
1
common—
2%
"2%
~2%
100
3
5,100
900
50%
Jan
30%
29%
31
800
27%
Jan
x32
Mar
69'A
72%
150
64
Feb
81
Apr
10'A
10%
500
9%
Jan
12% Mar
3%
3%
200
2%
Apr
3% May
43%
44%
500
40
Jan
44% May
1%
1%
1,600
1
Jan
7%
800
6%
Jan
8% Mar
16%
Feb
17% Mar
%
Apr
10%
1%
7%
%
7%
""%
"?3
Ills
—
500
1,100
71
72
100
72
100
69
common
xl65
Feb
27/a Mar
Apr
68
Mar
125
Jan
135
Apr
Jan
33%
Apr
73/4
g%
400
7
Jan
8% Mar
gy4
914
100
8% May
10% Mar
Co
Solar
Aircraft
Solar
3%
3%;
3%
400
97
Jan
Jan
4%
Apr
7% Mar
2%
Feb
3%
91%
Feb
40
110%
Apr
Feb
112% 112%
14
!
13%
14 %
Feb
Jan
175
Jan
Apr
2'A
246 %
244% 246%
290
229
10
108
109
—.
~3'/a
III
"3%
Feb
13
Mar
Jan
Jan
26
;
2%
Apr
Jan
275
%
Apr
13'A
Feb
x3
Jan
111
27/a
Jan
16
12% Mar
200
Feb
Apr
Mar
97
115%
Feb
2%
109
13%
Apr
400
III
Jan
3% Mar
Jan!
.._1
Pipe
Line
5%
5%.
200
3%
Jan
6% Mar
2%
2%
625
2%
Feb
3'A
4'A
Jan
4% Mar
3%
1,600
2%
Jan
3'A Mar
...1
~2%
..25
common
Oil
5%
2%
41%
...1
...
California Edison—
-29
original preferred
-25
preferred B
—.
-25
5 % %
preferred series C
Southern Colorado Power class A_. ..25
.100
7% preferred —
England
Phosphate
Pipe
Co
Co
& Bros
Apr
44'A
Jan
Mar
30%
Apr
38%
380
37
Mar
43 'A
Jan
31%
200
29%
Apr
32 '/a
Jan
29'A
Jan
31%
Feb
l'A
1%
Feb
67
Jan
Jan
75
Feb
123
May
130
Jan
1%
71
1%
73
100
40
5%
-10
Apr
6% Mar
8%
Jan
9 'A Mar
8%
8%
200
5
9%
9%
9%
500
91/2 Mar
™1
5%
5%
5%
400
5%
-10
% Mar.
200
10%
»/4
Jan
6%
Jan
Apr
45
Jan
40
Spanish & General Corp—
Amer dep rets crd bearer——
dep rets ord regis.
40
38
Telephone- .100
Line.
Royalty
Spalding (A G)
1st preferred
500
31
38
6%
Npw
Apr
28
42
-10
5%
Amer
if Feb
%
200
12
96%
Southern
Southland
Mar.
75% Mar
...1
South Coast Corp
Southern
8% Mar
Jan
■.
12
97
.100
Manufacturing common.:
Pa
l'A Mar
77
3%
%
%
..£1
Corp
Penn
1% Mar
Jan
26
.100
Manufacturing Co
Southwest
74'A May
Feb
67
71
3 % May
Jan
6%
8
7%
14
Manufacturing Co
Manufacturing Co Ltd—
dep rets ord regis
Sioux City Gas & Elec 7<&
pfd
Smith (Howard) Paper Mills-
South
1%
6%
Amer
Soss
17% Mar
17
1
common--—
Sonotone
2% Mar
Jan
14
72
•
Simplicity Pattern
Apr
Feb
1%
2%
1
Shawinigun Water & Power...
Sherwin-Williams common.—_...25
100
5% cum pfd series AAA—
Sherwin-Williams of Canada..
Co
4% Mar
38'A
Jan
70%
——
Mining,
Denn
Jan-
71
25
10'A Mar
Feb
2%
17
—
Serrick Corp class B__
Seton Leather common
Shattuck
8%
1,000
71%
~3
—:—*
1
Safety Control—
Sentry
156%-•Feb
6,600
3%
200
Convertible stock—5
.$5.50 prior stock—...—
.Allotment certificates
Jan
146
9%
32
5
*
Shoe Co
Selected Industries Inc common
5%\ Feb
3'A
•
Securities Corp General
1
Seeman Bros Inc—,
...
——-*
Segal Lock & Hardware...—...
1
Seiberling Rubber common
—
•
Steel
Scullin
11% May
May
4 Va
8%
9
1
*
common
6,700
175
149
147
149
4%
4 '/a
2% Mar
11% May
*
50
preferred
25
Scovill Manufacturing
25
Scranton Electric $6 preferred—
*
Scranton Spring Brook Water ServiceBe preferred—
Southern
Mar
Jan
x40%
11%
2%
Convertible
100% Mar
61'/a
Feb
17
common
(D A)
Schulte
'Jan
133
' '
,
17%
Co
90
161'
Jan
' I'
5
Mills
Sanfovd
120
50
A
x40%
15% Mar
23%
25
1
1
Oil Co
United Corp common.
Southern
100
Jan
50'A
17%
—
Corp Ltd
pref
preferred.!—
104% Mar
64
12%
-2%
Dome
Jan
2% Mar
63%
1% Apr
/ 8,200
13%
'
1
Paper common
Regis
7%
Salt
94%
31
__
Mar
Apr
149
100
10%
13%
*
$2 conv
A
Class
490
__
63%
Apr
Jan
71%
270
151:
10%
Singer
20% May;
8%
__
101%
/V
77
76%
wiS
—1
Singer
64%
■
16 %
.
—5
Aeronautical Co..
Consolidated Petroleum
Ryan
Feb
36'/a
Apr
»
see
Jan
8%
convertible preferred——
$1.20
33% May
Feb
7% '
37
.
50
...
Co
footnotes
•
2.50
.
Perfect Circle Co..
Philadelphia Co
11
13%
—
Royalite Oil Co Ltd
109% May
__
.«
Pharis Tire & Rubber
900
Jan
1%
1
*
5
common——
Russeks Fifth Ave—
Jan
Jan
'
•
*
—
Co—
Feb
Jan
—
Co
Petroleum
Root
Jan
19
6,900
,
1
& Power Co—I
Apr
13%
11%
50
Roosevelt Field Inc
32%
80
7%
Pennsylvania Edison Co $5 series pfd_*
Penn
116
93%
100
pfd D——100
Rochester Gas & Elec 6%
106% Mar
__
7%
25
$2.80 series preferred
Penn Gas & Elec class A
-
29
^
•
Pennroad Corp commun—
14% May
__
-
.
:
29%
l
Patehogue
$1.40
—
,
Corp—.
&
Rig
90
Jan
5
*
Co
Parkersburg
200
102% 103%
103
♦
Pantepec Oil of Venezuela Am shs
Motors
Jan
Jan
700
10%
& Engineering
Aviation
Dry Goods
Richfield Oil Corp. warrants
Richmond
Radiator
Rio Grande Valley Gas Co v t c
35
1,100
•
_•
$1.30 1st preferred
Page-Hersey Tubes .common
Paramount
36%
33%
35%
25
100
13
—
..
Pacific Lighting $5
Pacific
108% Mar
99% 100%
12%
Feb
30
100
5%
22%
109
10
117% 117%
109% 110
22%
Feb
80
:
114% 115%
5%
4%
21% Mar
30
110%
—.1
1
Elec 6% 1st pfd—
preferred
preferred—
Pacific Power & Light 7% pfd
5%%
Apr
8.200
16%
Stix
Silex
Can
Jan
'/a Mar
12%
11%
10%
Selby
*
—
Securities
Pacific Gas
Jan
8
10%
12%
Simmons-Boardman Publications—
$3 convertible preferred——_—
Pacific
8
114%
15%
Reliance Electric
Samson
28
15
common
Omar Inc.—
Overseas
Apr
Apr
9% May
2%
5
Gas
Jan
Mar
Jan
13
Jan
100
1st pfd
common
Natural
Oklahoma
May
7% Mar
6% Mar
106%
Jan
Jan
100
7%
Service
Ltd
48
•& Mar
1%
100
preferred
Oilstocks
Jan
Jan
Jan
200
12%
Reed Roller Bit Co
Jan
3*3
4%
*
common
$6
Power
%
16%
Red Bank Oil Co
Ryan
200
•
preferred
4%% preferred
Ohio
Apr
1
a7a
%
•
Ryergon & Haynes common
200
—4
Ogden Corp common
Edison
30
108
common
Jan
O
Ohio
Jan
Jan
Feb
7% Mar
——10
Investment A
1
common
10
Raymond Concrete Pile common..;
•
$3 convertible preferred
1—.—•
Raytheon Manufacturing common..50o
Voting
Jan
1%
*
class B
6
6%
300
Railway & Utility
77
5%
25
Corp
Co
Jan
R
83%
1%
—...100
Brass
7% Mar
6%
7%
150
Feb
5%
50
Ohio
Jan
43
20
48
7%
77,
Jan
9%
Securities-.—1•
Oil—
—.5
Power class A
States
Mar
3%
Jan
%
Radio-Keith-Orpheum option warrant#.
Railway & Light Securities
Jan
10%
V
•
preferred
Novadel-Agene
%
105
12%
1
North Penn RR Co.
50
Nor Indiana Public Service 6% pfd.100
71c
"5%
Airlines
Northern
May
15
4,400
7%
—
3%
1/128 Feb
...•
class A
Texas
%
46%
48
preferred.:
Quebec Power Co
Apr
May
•
117%
common
Northeast
32,100
1/128 1/128
Light & Power common—1
prior preferred
American Utility
Northern
2%
1
North American Rayon
North
8,300
5
Mines
B
2%
78'%
preferred
Class
2%
.—1
B
Electric——
North Amer
$6
170
64
60
2%
*
Niles-Bement-Pond
Nineteen Hundred Corp
17
26'/a
200
30
18
6%
Rice
112%
Y State Electric & Gas $5.10 pfd.100
Y
Jan
Jan
5%
200
6%
30-
7/a
10
Republic
109
115
100
Niagara Hudson Power common——10
5%
1st preferred
100
5% 2d preferred
100
Class A optional warrants
Class B optional warrants
Niagara Share class B common
5
Class A preferred
.100
N
Feb
May
4% May
5%
Quaker Oats common
Feb
Y Shipbuilding Corp—
Founders
N
115%
1
preferred
$6
,
2
12'/a
Manufacturing
Pyrene
Jan
11%
115%
preferred—100
•
7%
12%
112
Feb
13%
5
preferred—
Puget Sound Pulp & Timber—
Pyle-Naticnal Co common
3%
21 %
10
10
Honduras Rosario
Power & Light
6%
Jan
14%
500
4.300
—10
*
—-——
$5 prior
19% Mar
7%
Merchandise
Y
Common
59%
3%
City Omnibus warrants...
Y
Z
~3
100
—100
1st preferred
Apr
35
•
Y
N
preferred—;—'
1st
7%
Jan
2%
—•
common
N
N
16%
"2%
3
*
6 %
18% Mar
'
N
16%
3%
200
4%
Puget Sound Power & Light—
54
1
Process Co common
Jan
18
•
Land
New
Feb
Mar
7
104
210
25
New Jersey Zinc
Mexico
4%
6%
Jan
87%
% May
3
1,025
107% 108%
*
Co
New
1.900
Jan
Rath Packing Co.
£2
Clock
Jan
4%
29% Mar
114
Apr
200
5%
•
100
England
11
95
107% 112-,
112
Jan
~6% ~6%
6%
England Power Associates
6%
preferred
Haven
100
Jan
1.700
6%
New
&
1%
4%
110
Neptune Meter class A__
Nestle Le Mur Co class A—
New
Apr
13'A Mar
800
28
lioo
1—5
Corp
New
Jan
9%
13%
_•
(Herman)
Jan
3%
i
28%
preferred—
Nehi Corp 1st pfd
Nelson
21'/a Mar
1%
1%
4 Va
Co
Nebraska Power 7%
850
11%
Jan
62% Mar
55% Jan
60%
Jan
40%
Apr
ll7/a
Jan
Jan
Feb
11%
1,000
20
13%
—300
National Tunnel & Mines common
National
8'A Mar
Jan
13'A
18%
100
Ilio
National Transit
11%
12
8%
19%
20
preferred
2%
12% Mar
Apr
9%
700
12%
12%
Ltd
5%%
Jan
Apr
10
100
>
XlO
XlO
10
National Sugar Refining
Tea
il%
11%
11%
—
National
Jan
Jan
300
v
Mar
—*
...
National Mfg & Stores common—
National
Jan
35
—50
City Lines common
Car
Jan
Jan
11%
National
National Fuel Gas.
1%
30
Feb
28
Feb
17
Jan
1% Jan
5,200
IBoc
Candy Co.———
convertible
1%
1%
.—1—25
...
National
$3
1%
•
National Breweries common.
1%
7
1,900
8
Colorado—
Public Service of
—
National Bellas
17%
*
Gas
Providence
Jan
X58%
59
•
-1
1
Prosperity Co class B
N
12%
37%
1
—
Prentice-Hall
Corp
400
8
V
• 1
& Lambert Co
Metals
29 % Mar
1%
1%.
5
Alexander
Corp of Canada......
Producers
Jan
15%
10 ;
25c ;
&
Pressed
22%
15-
—7.50 /
common.
Inc
4.500
26%
—25
....—1
Polaris Mining Co
18
Jan
Apr
15%
50 <
10
m m mn
nw «■>»
Pittsburgh
' 1.000
:
5'A
50
RR—
Jan
100
28%
*.
...
Jan
7%
6%
28%
1
...
Meter
Postage
Pitney-Bowes
High
33%
32%
•
common
Low
31% Mar
75
1
common
Range since January 1
Hiah
6%
*
4% Mar
Shares
32%
—25 '
Co
1,000
*1%
"5% ' -5%
*
:—.—2%
—*
100
common..
Pierce
"
10
Tel.,
Muskegon Piston Ring
Securities
Feb
28%
common—
Ohio Mfg Co.—
Murray
Phoenix
;\
,
May
16%
100
17%
Packing
Apr
9
l—
Power
7%
165
390
165 ..'169%
165
Phillips
Feb
1%
100
10
Ward A_:
Montreal Light Heat & Power
Moody Investors partic pfd
Mtge Bank of Col Am shs
Montgomery
Feb
Phila Electric Power 5%- pfd
10 % May
8% Mar
1.100
9%
May
for Week
Low
Par
,
20
Jan
3%
9%
Corp..,
Dakota Utilities.:
Jan
114'%
14
common.——2.50
1
Monogram Pictures common...
1
Monroe Loan Society A
—1
Montana
102
•8% Jan J
150
Mock Jud Voehringer
Molybaenum
Jan
97%
10
109%
pfd—100
Mississippi River Power 6%
101% 101%
..
High
Low
High
'•Low
Par
"
•
■
Sales
Range
of Prices
Sale Price
'
■
Week's
Last
Exchange
Curb
Range since January 1
Shares
of Prices
Friday
STOCKS
Sales
for Week
Week's
Friday
STOCKS
New
Feb
■
-
Jan
& Feb
Vrer
THE COMMERCIAL &
2108
Monday, May 22, 1944
FINANCIAL CHRONICLE
NEW YORK CURB EXCHANGE
FOR WEEK
RANGE
Corp...
3%
3%
...
*
Btahl-Meyer
Inc
Standard Brewing Co
".2.78
Standard Cap & Seal common—...
—1
preferred
Convertible
500
100
2%
1%
600
9%
1,000
9
17%
17%
17%
"V*
Va
Va
2,300
65%
65%
8 Va
—
8%
"£»%
.—1
Products Co—
18% Mar
%
Jan
%
Jan
Jan
54
7%
500
:
Jan
9
~VA
trust ctfs„1
———♦
of Canada
Steel Co
6%
1st
preferred
5%
2d
preferred
*
—
-'13%
'
"5% ~5%
~5%
Drue
Rav
Sun
Corp
5%
—.—
Co
Sunray Oil 5%%
;—1
1%
1%
Jan
14
11% Mar
Jan
6%
Apr
111
Apr
4
Mar
13%
7
9.300
Jan
7%
11
12%
Jan
—£1
....
Mar
4
ZVa- Jan
-10
Preferred
Jan
13% May
5% Mar
110
212
2%
2%;
4,900
10%
Jan
10%
3%
Jan
1%
Jan
8%
Feb
%
Feb
20%
Jan
200
'
20%
class B com
100
30
30
20%
17
,
2% Jan
13% May
Mar
10
~3 Va
Jan
13%
1^7
-5.800
11% Mar
1
% Feb
34
Apr
20% May
May
Mar
12%
Jan
15
200
■■
51
Feb
52 U May
Apr
15%
Apr
11
9%
13
Oil Corp
5% May
2 % Feb
200
5251:
Friday
Interest
Curb Exchange
Last
Week's Range j
or Friday's^
.' Bonds
Sold
Sale Price Bid & Asked
Period
■
Low
High
Range Since
January 1
High
Low
Ho,
Feb
15
13%
5250
BONDS
York
New
May
200
10%
50
•
preferred
conv
Superior Port Cement
Swan Finch
Feb
Apr
9% Mar
..10
Jan
•
pfd. ."100
Apr
400
5
5'/a
—B
•
•
1
...
Co——
Machinery
Sullivan
Jan
10
...1
_
&
Wright Hargreaves Ltd
May
52
9
.,
(Hugo;
Feb
18
Jan
8
3
1
Woodley Petroleum
Woolworth (F W) Ltd American
deposit receipts—__ .—BS
6%
Jan
8 %
8%
Light 7%
Wolverine Portland Cement
6% Mar
:
Jan
12
Products——;—1
1
Sterling
Inc
—
—1
Stetson (J B) Co common
•
(SI
100
Jan
43%
Sterling Brewers Inc..—
Stroock
50
8%
Apr
15
Jan
Jan
3
500
Sterling Aluminum
Bunnea
9%
8%
1"% Mar
55
•
20
Sterchi Bros Stores
1%
Apr
A Feb
2,300
1%
1%
53% Mar
•
1
50
& Co common—
(A)
Stem
Jan
9%
8%
Heating
Inc..
Power
Wisconsin
9%
Co
Winnipeg Elec common B
Va Mar
A
% May
1%
——1
B—
class
Tube
Mar
71
&
Products
Willson
16
...1
1
High
Low
.——
(The; Corp voting
btarretl
: Mar
U4
Jan
•
Standard
Apr
Jan
1,100
1
Standard Silver Lead
2% Mar
19 %
%
50
—
Oil-O-Matic
Jan
..
Preferred
(R
Williams
108%
1
Standard
Williams
Apr
17% Feb
1.100
..100
Common class B
Apr
23
A Apr
(Ohio)—5% pfd
Standard Power & Light——
Standard Oil
10 Va
Jan
Jan
Range since January
Higli
..10
Weyenberg Shoe Mfg
Wichita River Oil Corp—.
Jan
2
Low
Shares
-10
Westmoreland Inc
Apr
C)
for Week
of Prices
Par
1%
16
lOO
2%
2'/a
1
Jan
Mar
4
Jan
A Feb
6
18%
200
20
20
convertible preferred..—
.—10
Standard Oil (Ky)
$1.60
4%
3% May
2%
20
.—10
.
Standard Dredging Corp common..
3%
1%
"9%
Sale Price
High
2%
•
Shoe
Low
Sales
Week's
Range
Last
Exchange
Curb
Range since January 1
Hig*
Low
Friday
STOCKS
York
New
Week
Shares
of Prices
Sale Price
Par
Spencer
f j*r
Range
Exchange
Curb
Bales
Week's
Friday
STOCKS
York
New
ENDING MAY 1?
Apr
May
American Gas & Electric
Co.—
f
2%s
s
debs—1950
f
s
3%s
debs—
———...—I960
J-J
Writing
Arkansas Pr
SAssoeiated
4%s
AConv
109 y2
51
103%
104%
5
1948
107%
11
104% 104%
85%
M-3
87 VA
128
104% 106
132
24%
87
108%
125%
108%
"2
104%
101%
99
$23%
J-J
4%s
deb
108%
107%
108
J-J
;
Elec
&
106
4
$125% 126
A-0
4%s__
deb
104
J-J
1953
Gas
A Conv
—
Lt 5s—.1956
&
Elec
Associated
6s
Paper
4
3-D
1961
Appalachian Elec Pow 3%s___—1970
Appalachian Pow deb 6s_—
2024
Amer
105
,103% 103%
108% 103%
108% 108%
M-S
f
S
102%
99% 100
J-J
deDS—............—.1970
Amer Pow & Lt deb 6s_
2016
3%s
2
103% 104
J-J
79%
87%
23
Co—
29
.1
Taggart Corp common
Shovbl
Thew
Co
16%
25
'
16 VA
12,400
12%
Jan
16 % May
60
114%
Jan
19%
Feb
6%
Jan
1
Jan
7% May
7% Apr
-
.—1
4%
,,5
900
5
57% May
50
57%
57%
3%
j ;■
■
7 •
'
.
,
"1
•
,
.
,
17
23
29%
23 Va
24'A
20
23
29 %
24
23
24
25
23 %
29
23%
23%
11
1955
M-S
90%
91 %
21
85%
109
109
4%
Jan
M
1st
Jan
1%
Jan
B
C
Steel
Beitilehern
1957
J-D
1960
series
5s
series
$98
J-D
M-N
of Canada—
Telephone
5s
1947
warrants
without
5s
Bell
6s
,.1962
58
Feb
10
108
Jan
109 %
Feb
113
Apr
115
Jan
108
108
.100
.100
200
11
3%
3%
3%
1,200
3%
Apr
24 Va
21%
24%
13,700
18'/a
Jan
6%
400
11%
600
62% Mar
Jan
1
1
u
200
%
warrants—...
119
$107
102%
102% 102%
3-D
103
102% 103
1
1953
1964
Af-N
103
■102% 103
1948
1954;
J-J
41
M-S
41%
*
IV/
1
Corp
1% Mar
10
Jan
10%
Northern
Canada
111
Central
El
Power
3%s
Gas
&
5s
Canada——
Gas
Union
Apr
7%
Jan
§ACentral States Electric 5s
:
A5%s
§AChicago
39
41
19
41%
2%
2%
100
5%
5%
2%
300
4
Jan
2%
Jan
4%
»
Jan
7%
Feb
6%
Feb
~9%
5s
Service
7%
1,400
7%
3
Apr
18%
18%
''A 100
14%
Jan
III*
pfd.....
& participating
7%
•
37
45%
3
; 98
100 Va
69
71
85
71
M-S
101% 102%
101%
101
102
5s
1969
A-O
101%
101
101%
1951
M-N
116%
116% 116%
J-D
110
110
Hoc
Stores—.
^icar-Whelan
preferred
—
~~1% "l%
1%
—*
11,500
89%
220
87%
89
X'.-"'
%
warrants
li
78
Iff
>
1%
1st
I—1
_
*
1%
2,300
iff
%
A
4,900
50%
53 %
2,100
A
iff
.—
preferred
1st
53
,
1%
•
3
Apr
Amer
dep
rets ord
A
Continental Gas & El
—
regis
Feb
%
Feb
:V.y.
50% May
Jan
—
V
Sharing
U
U
U
S
Jan
Gatineau
93
Apr
General
Feb
47/a
Apr
U
U
common
United Stores
Wall
44% May
6% May
6%
6%
6%
2,800
5%
6% May
9% Jan
Houston Lt
1%
Hygrade Food 6s ser A
87%
86%
Insurance
iBoc
Universal
Pictures
Jan
100
1%
%
2
*
%
.
2%
3,200
'22%
21%
X21%
—..
22%
"2%
2%
'
56%
58
nil
—10c
3,500
Feb
9
Jan
Feb
21% Mar
18%
Jan
26
Apr
23% May
Jan
2%
Jan
500
&
3%
Jan
51%
Jan
61
• Feb
4
Jan
7
5s
series
1 Va
1%
Feb
Venezuelan
Petroleum.
.100
Virginia Public Service 1% pfd.
Vogt Manufacturing
9%
Jan
8%
Feb
2 Va
Apr
Jan
40%
Apr
11%
Feb
105
Jan
100
8
Feb
-9%
9%
1%
27
2,170
134% 139
139
*
3,800
10%
10
10%
10
37
37
1
„.
1,200
139
Apr
May
Co
Wagner Baking voting trust ctfs
1%
Waitt & Bond claw A
Wayne
West
Va
Western
„
Westero
Coal
&
1st
Stationery
"
Coal
footnotes
see
page
pfdlllOQ
cow
—
2109.
*
w
•
4%
*
-
18
8%
8%
7%
8%
117
•
-
-
•
~20
100
500
4%
20
109
8%
3,400
900
8%
840
108"% 117
*
„
"26%"
•
26%' 26%
— —
100
18
•
4%
109
•
1
_
Maryland Ry 1%
Westmoreland
For
Inc
.
n
111—3
Coke
Western Tablet &
100
8%
1%
1%
1%
•
1.23
Utility $0 preferred.
Air Lines
■
•
—n
I"
Knitting Mills
Vrentworth Manufacturing
Texas
8%
—
Feb
3%
Feb
7%
Feb
9% Mar
94% May
'
Class B
West
3%
94 Va May
3%
3%
;100
14%
Jan
1%
Feb
15
3%
108
5%
75A
84
Jan
Jan
25
23
18% Mar
4 % Mar
Jan
8%
Apr
Jan
9 % Mar
20
60 %
97%
101
103%
98%
104
63
3
101%
103%
98%
100 %
100
108
105
101
103
5
103
108%
1
103%
106% 106%
101%
J-D
98
$100
J-D
70
J-J
106%
100 %
64%
70
70
109%' 111
$109% 110%
J-D
105,
104
104%
7
102
104% 104%
1
102
105
A-O
106 JS,
105%
107%
.1956
1950
J-J
...
106
33
105 3^
105 ^
29
105
6
104
104 Va 105
iV
3V 106%
105 %,
102%
103%
48
93%
100%
99% 100%
15
93
106% 106%
100%
M-N
1970
106
6
$102% 103
99% 100%
F-A
—.1963
& L 3%s
A7s
A7s
coup).
106%
100%
109
coupon).—
—
Power
5s_.
1—-
Superpower
6s_
Mar
F~-A
25
28%
23
25
28'
25
29
..1957
7-3
28
.$27%
.!l952;
7-3
..1957
;
92%
92%
—
Light 3%s„i.
Power
22%
24%
93%
67
88%
95%
60
30
77%
J-J
68%
68
69
J-J
31
31
31
10
28%
35
108% 109
9
107%
109
M-S
J-D
..2022
.
$107% 108%
106%
107
M-S
..1966
$119 Va 120
$112% 112%
120
122
111%
112%
J-J
.!l9R9'
108
107
108 Va
106
106
Dist Pow 3%s.—
..1970
J-3
„1960
A-0
$107
108
..1948
—
108
FA
102
102
Radiator & Mfg—
stamped
ofkirfoQ'
,25%
29
..1965
Lt 3%s
Power 3%s„—
Kentucky Utilities 4s—
g
21%
30
._196b
Kansas Gas & Electric 6s
Kansas
24
$27%
..1952
6s
Kansas Electric
28
25%
24 -.
..1952
1941 coupon)—
(July
25
26%
j.D
>
..1955
..1957
1941
F—
series
A7s
1941
E_
(Aug
"
..1958
1
(Dec
series
A7p
;
C
series
A6%s
—:
E——
Middle States ~PetroT 6 %
sIHIII
..1971
^1943
.1967
.
.
V-J
A-O
•
99%
102.
$106
M-N
.1963
4yas—
102
107%
108
108%
9
108
110
110%
n02% 102%
M-N
..1965'
Edison 4s
j' i
Milwaukee Gas Light
120
44
~4
104%
1% Mar
Feb
Jan
98%'
106%
106%
105
105 A
18% Mar
110%
Apr
61
102%
103
58
9
A-O
Midland Valley RR—
Extended at 4% to
Apr
18% Mar
„
•
~6
1.05
M-N
Metropolitan
ext.I*
preferred
AM
102% 103
M-S
Lake Superior
400
127.
96%.
105
J-D
A6%s
-
6s
•
123%
A-O
C
§International Power Sec—
McCord
Aircraft
104 Va
123
102%
1958
9 % May
W
Waco
101%
1949
5s
5s__
Jersey Cent Pow &
1%
65
97%
F-A
1957
Indianapolis P
79% May
Jan
V
1%
93%
.1953
iien <& ref 5s__
1st
Altalian
1%
139
J-J
Corp
5%s series B—
Debenture
1
103%
66
$102
Service
Indiana
Va May
74%
5
120
90%
103% 103%
101%
Hydro-Elec
rei
1st & ref
Interstate
Valspar Corp common——
$4 r.onvertiDle preferred
125
99
1949
series A
1st
24% Mar
1
122
75
Mar
Jan
2,300
108
104
Jan
os
Incuana
2% Mar
18
VA
VA
Jan
1%
20%
700"
7%.
105%
102%
_Jan
B
1st & ref
Apr
14 Va May
&
Power & Light
Illinois
% May
2%
Jan
1,200
2%
118
110%
15
100'/a 101 %
J-D
& Pwr 3%s—— —1966
series
2 Va Mar
50
58
6%
7%
400
22%
23.
23
,-7rr
200
2%
22%
1
—.
Jan
20
Ilia
Utah-Idaho Sugar——
—
Utah Power & Light $7 preferred..
Utility Equities common
$5,50 priority stock
3% Mar
7
2%
•
—
Jan
t..
M-S
—___1945
1958
Products
West 6s
Grocery Store
Guantanamo
Mar
90
A Apr
2%
12
....1
Products——
1%
1,200
2%
2%
mi*
IZIlO
....—...—...
Co
Apr
Jan
•
common
Voting trust ctfs
Universal Produces
%
78%
.—10
—
Feb
200
225
%
88
1 %
...
9
Jan
2%
%,'
nil
......
——
Universal
150
9%
9%
*
...
common
Paper.!—
B
Radio
Mountain Pow
98%
98%
$102
1941
stpd—...
3%
Nor Power 5s
Green
47/a. Jan
Oil
Universal Cooler class A
Utah
Great
x43% Mar
Universal Consolidated
Class
Mar
150
common—!.—
Reclaiming—
Rubber
United
7
74%. Jan
Jan
900
8
97
■>, y. 104 »'t 104
J-J
—1950
..1950
1963
West 4s
6%
—
—
$58
M-S
4%s series A
(Adolf)
Grand Trunk
6%
Securities..
$123
—
J-D
—1965
4s_—...
43%
preferred with warrants..
S Radiator
S
Jan
Coal
Alden
6%
44
116%
109
38
106%-
A-O :
Serv 5s
1
and International
1st
%
Feb
6% Mar
69
:
M-S
3%s A
Power
Pub
43%
class B
Graphite
S
S
$5
425
,
M-S. -X V
M-N
1969
—.—.1953
A General Rayon Co 6s ser A—_ 1948
Georgia Power & Lignt 5s._—
1978
37
1
Specialties common—
Foil Co
100
6%
72
103%
M-S
Service
,—25
Preferred
United
6%
71 Va
71%
common- —25
Machinery
Shoe
5
:
99
96
96%
103% 103%
96%
F-A
63 % Mar
Feb
%
M-S
5%s
—1954;
Finland Residential Mtge Bank—
6s-5s stamped
1961
Glen
—10
preferred——
10%
United
96%
97
J-D
1952
El 5s
District
Apr
-250
——
102
115
102% 103%
102%
F-A
1956
2030
1956
5s
Water Lt & RR bs—:
Federal Water
§AGobel
Profit
United
& Light
Power
90
4
Fuel 4s ser A
Eastern Gas &
Electric
Empire
Vff Jan
5s——
Cuban Tobacco
Elmira
-100
United N J RR & Canal Co
98%
122% 122%
$107
M-N
1958
—1944
5s
107% 108
103%. 103%
A-O
Gen mtge 4%s__
—
1954
Consolidated Textile 5s stmpd—1953
102%
6
3
J-D
mtge
103
97%
14
110
J-J
3s ser P—
—1969
2%s ser Q—
1976
Consolidated Gas (Bait City) —
ref mtge
Jan
% Mar
Molasses Co Ltd—
United
series
ref
1st
Mar
121%
May
%
:
Feb
16% Mar
:•%'& Mar'
*
,
■
1st
33%
preferred
participating
Feb
xll4
200
Milk Products
United
$3
600
J2
%
3S2
May
7,400
1%
1%
—
3%s
A
7s
Pr
102
98%
94% Mar
3,800
115% 117
117
Option
warrants
—♦AXXUnited I.ight & Power common A_.
Common class B——
$6
2 Va Mar
Jan
16
preferred non-voting_...
$7
Feb
80%
•-
United Elastic Corp—-—
United Gas Corp common—
Mar
62
&
105
99%
102%
A-O
Lt & Pr (Bait)—
Ns'_i
———;—1971
104
23
F-A
1958
Lt
79
67
169
$101'A 102
M-S
1950
5s
Gas
1
$104% 105
A-O
101%
104 y8
102% 102%
102%
J-D
5s
El
May
.::18 % May
Jan
59
44%
68
100
39%
deb
Consol
Feb
—1
Products
Aircraft
Feb
,5% Feb
"5%
—10
103
107
36%
100
'
J-J
1927
1952
—1955
Jan 1966
Ry 5%s A.
B
series
6s
Cities
ctfs
5s
Rys
Cincinnati St
Connecticut
600
3%
3%
3%
—
Chemicals common.
oorp
103%
105'A
$105% 107
J-D
Central States Pr & Lt 5%S stpd—1953
Jan
11% May
Investment common—
United
United
Uniteu
101%
99%
15
Debenture
_10c
—
Unexcelled Manufacturing Co——
Union
$5
5
24% May
Mar
4
Jan
4%
U
United
106%
.104%
102
51
;;;
Debenture
cum
150
105%
110
m-a
Conv
$3
120%
150
$150% 170
A-0
115%
119
119
Birmingham Electric 4 %s ——1968
Boston
Edison 2%s
...
1970
Apr
■
9% Mar
—
Tung-Sol Lamp Works———
80c convertible preferred
of
114'
$114'A 114%
Q-F
1998
6%s
Bickford's Inc
11% May
130
60%
60
—
Inc———-;
Udylite Corp
Ulen
Realization
95%
103
107
18
F.)—
(B.
& Sons
M-S
1964
City Eiec 3%s
Atlantic
Avery
29
F-A
23
5%s A
T deb
T &
.23
—.1977
5%s
deb
AConv
Jan
,
Feb
..10
Corp—
Transwestern Oil Co
Trans Lux
Trunz
24
24
A-0
fW
.
Shipyards Corp.
Toledo Edison 6%■< preferred
7%
preferred—
——Tonopah Mining of Nevada
Tri-Continental
„
1%
Todd
,
60
Feb
9%
dep recs def r<°g_.
1.
24.
F-A
19G8
5s
X23% Mar
1,700
J-J
1950
Assoc
Jan
50
7%
dep rets ord regis——.
Amer
6%
6%
,
Amer
May
21%
Security Trust Co Ltd—
Tobacco
119
Mar
6
200
Mar
6%
Exports——.
Product
Tobacco
Feb
7%
&
Tobacco
23%
5% May
:
21%
~7%
1
Realty & Construction.
Allied Stocks—..—
Tishman
"6%
6
Inc—
Roofing
200
118%
15
117
—2
common—
Jan
24%
24
"lOO
pfd...
Oil & Land Co
Texon
Tilo
1%
& Light
Power
Texas
5%
5
5%
55V
24
Tampa Electric Co common.;
Technicolor Inc common—
400
1949
AConv deb 5s
ADebenture
2
102%
103%
8
62%
69%
11
107 V\
108%
13
106
108
108%
,
69
~
68
69
107% 107%103% 104%
M-H
106%
.1955
J-D
106
106
2
103%
105%
.1957
J-J
103
103
4
102%
104%
Mississippi P & L 5s
...
Mississippi River Pow 1st 5s—
Nassau & Suffolk Ltg 5s_.
110%
Nebraska Power 4%s
.1981
J-D
.2022
M-S
.1948
J-J
Minnesota P & L 4%s
1st
Mar
6s
27% May
New
&
ref
series
—
5s
r.
A_
Amsterdam
Gas
5s_
.1978
3-D
.1951
M-N
.1945
F-A
105:
10513
12
105 A
100% 100%
1
100%
109% 110
5
108
111
116
118
111%
113
105 41
$118
120-
$111% 114
101%
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
yplume 159
2! 09
NEW YORK CURB EXCHANGE
'
"range
Friday
BONDS
Low
5s
M-n
5s.__—...————1950
deb
3-D
103
Public
Orleans
Nov 1949
N Y & Westchester Ltg 4s
2004
Debenture
5s—-————1954,.
J-J
North Continental Utility
jr-J
5%s.—.1948
Ogden Gas 1st ,5s—-—-——1943
Ohio Power 1st mtge 3Vis——1968
mtge '3s——w—-1971
$110%.;
M-N
I
F-A
—
Eight
1935
5s—
Park Lexington 1st mtge 3s—
1964
Penn Central Lt & Pwr 4%s.....:i977
——1979
5S
Pennsylvania Water & Power 3y4S-1964
3'As
—1970
—
Philadelphia Elec Power 5%s—1972
Philadelphia Rapid Transit 6s
.1962
F-A
M-N
J-J
F-A
1
114
A—
series
—1952
..
.
F-A
2022
.
Western Newspaper Union—
6s unstamped extended to 1959
49
1071/4
AStamped 5s
1081/2
113%
96 y4
101%
110% 111%
106
1
104
108%
33
103
104%
10
114%
115%
13
111% 116
/;
114% 115
115% 116
M-S
107
39%
34
107%
9
24%
45%
107
109
11
108% 110%
107
109%
,
$109% 110 y4
A-0
108
108%
J-D
116
116
F-A
!
$99% 100%
F-A
95%
95%
2
114%
118
100% 101 »/4
96
85
3-D
$98
3-D
1947
.
39
107
39%
3-D
J-D
$98% 100%
100
96
96%
100
96% 100%
117
106
102%
'
■
M-N
6s stamped extended to 1959——
IA York Rys Co 5s stpd
—1937
108
107%
81
106
A-Q
West Penn Electric 5s_.„—^„2030
West Penn Traction 5s.__.„...„..l96Q
106% 109%
107%
$101
105%
106
1141/2
$107.
103% 103%
.
A5s Income
debs
———1954
•Wash Ry It Elec 4s:
.1951
Wash Water Power 3%s.-i....„»..1964
104%
105%
11
114
■
103%
Debenture 6s series A
109%
40
$107'/a 108 Va
■
M-S
A-0
4s
Waldorf-Astoria Hotel—
103%
49%
109% 109%
$106y2108
109%
J-D
110% 111%
J
Utah Power It Light Co--
110
102%
106% 106%
M-N
100% 100%
110%
6s
1061/4
107%
12
$48%
13
100 %
N
......
1041/2 104%
104%
109
104%
108
6
104%
107ya
3-D
95%
105%
108% 108 %
$1031/21041/2
J-J
115%
103i/4
1
2
% 110
$105% 106;
F-A
4s
110%
103% 103 y4
109
101%
26
J-D
107%
,86%
15
111
104%
—
18
108% 109%
1959
United Lt & Rys (Delaware) 5y2s.l952
United Light It Railways (Maine)—
104%
109
951/2
95
95
High
103% 104%
1949
Electric
United. Light It Power Co—
1st lien & cons S'/as..
101%
107 y4107 %
107 y4
Low
103%
108%
F-A
1968
City Rapid Transit 5%s_—1952
United
101%
97% .103
75
106-
Range Since
January I
Sold
No.
J-J
,1979
.
..
Bonds
High
108 i/a
95%
$109 ya iio%*
A-0
1962
Ohio Public Service
.' 1st
72y4
107
8
103.
A-0
Oklahoma Power & Water 5s™—i948
&
Twin
$104
3-J
Power
82y4
74
102
3-D
M-N
Pacific
115
*
N Y State Elec & Gas 3%s.——1964
1st
82»%
Service—,.
6s series A...
Alncome
14
108% losya
101
101%
101 Va
New
82%
Tide Water Power 5s.
Toledo Edison 3 ¥*$
.79%
A-0
England Power 3V4S™
1961
England Power Assn 5s——1948
Debenture 5Vis
-1954'
821/2
81%
M-N
New
Low
821/a
80
Week's Range
or Friday's*
Last
Sale Price Bid & Asked
High
721/a
82 ya
,
Friday
Interest
Exchange
Period
721/2
80
New
Low
No.
Curb
97
si ya
J-D
1948
*—.....
Conv
M-S
ElASsn 5s—..—.—1947
Sold
High
New York
Range Since
January 1
Bonds
Sale Price Bid & Asked
Period
New Eng Gas &
BONDS
Week's Range
or Friday's •
Last
Interest
York Curb Exchange
New
for week ending may 19
107%
Portland Gas & Coke Co—
5s
.
extended-.—..
stamped
Potomac
4yas
Edison
Power
5s
J-J
M-N
4%S B——1959
100% 1023/4
MS
108% 108 ya
98%
106
11
106% 106%
106%
A-O
(Can)
Corp
..1950
--——1950
E
F——1961
series
3 -./
:
6
99
111%
i08ya
111%
923/4
•
■
99
Public Service Co of Colorado—
1st mtge 3%s—.
.———1964
Sinking fund deb 4s
Public
Service
of
—1949
perpetual certificates
Queens Borough Gas A Electricseries
108% 108%
1
106%
109
3-tD
105% 1051/2
13
104y4
105%
M-N
151
1
137%
151%
BONDS
New Jersey—
6%
5Vas
3-D
A—
Water 4Vas
—
151
York
Curb
Friday
Exchange
.1952
—
A-Q
98%
7
102% 102%
$111% 112%
,1979
3-D
.1952
MS
.1951
J-D
$75
80
Bcullin Steel inc mtge 3s..——
.1951
A-0
$90
90%
Bhawinigan Water & Pwr 4%s..
1st 4 % s series D——
.1967
A-0
103% 103%
.1970
A-0
•
103
109 Va
Low
128
Agricultural Mortgage Bank (Col)—
A 20-year
7s
April 1946
A 20-year 7s__
Jan 1947
Bogota (see Mortgage Bank of)
ACauca Valley 7s
1948
'
$127
•;
80
86%
92
1033/4
1031/4
7
103%
105%
105 y2
103% 103%
103%
Danish
1947
Sheridan Wyoming Coal 6s
South Carolina Power 5s_—. 1957
Southern California Edison 3s—. 1965
Southern
California
Southern
Counties
3%s—. 1070
Gas
J-J
$104% 107
104%
104%
J-J
$105% 106
105
13
108%
$107
A-0
104
—
105 »/2 1053/4
M-S
107
109
.,
.1971
F-A
$104% 105
76
77%,
J-J
■
.1970
F-A
.2022
M-S
103% 103%
Spalding (A G) deb 5s—
Standard Gas It Electric—
.1989
M-N
46
$108% 108 y2
8s—
1033/4
Southwestern Gas & Elec 3 %s—
Southwestern
P
&
L
85%
,
106%
29
104 s/8
83%
Conv 6s
90
95%
94%
95%
51
86%
97
A-0
95%
94 y8
95%
72
87
97y4
Debenture
6s—
.1951
F-A
951/8
94
Ya
95 y4
67
86%
97%
Oebenture
6s_.——Dec 1 1966
J-D
95%
94%
95'/s
18
863/4
97
1957
gold debentures1957
Standard Power It Light 6s
1950
AStarrett Corp inc 5s
Stinnes (Hugo) Corp—
-1946
A7-4s 3d stamped—.
/^Certificates of deposit—
Stinnes (Hugo) Industries—
7-4a 2nd stamped——— .1946
F-A
951/2
94%
95%
9
86%
F-A
951/4
94
95 Va
33
86%
30
30
14
29%
37
19
21
Electric
.1960
M-N
.2022
A-
series
J-J
.1958
5s—^
& Light 5s
Texas Power
6s
Service
—
J-J
$118
72%
60
63%
20
19%
21
$20%
23%
17
22
37
34%
36%
1951
J-D
$24%
27%
18
25
M-N
$36%
..
33%
37
36
37
-
..1947
——.
A-0
J-D
$16
18
16%
17 y4
1972
J-D
$60
90
58
71
1958
7s
$36y4
1931
6%s—*
Government
M-8
$37%
38%
33
37%
$36%
37
34
38
a
J-J
.1959
6%S
J-D
1921
..
6%
6
6%
57
3%
J-J
1919
—..—,..4..—-..
sale,
$17%
,.
M-S
6%.
6%
6%
52
3%
Deferred delivery sale,
a Ex-interest,
Odd-lot sale,
e
a
7%
7%
Under-the-rule sale,
Ex-dividend.
x
24%
■
11
104%
106%
14
105
108%
117%
.
105% 106
—n ■
•
•
20
221/4
25
1053/4 106%
■
106
62
$Frlday'8 bid and asked prices; no sales being transacted during current week.
ABonds being traded flat.
' r"-:.
20
.u—
$21%
Cash
J-J
1927
•No par value,
r
v..
Oct
Janeiro
96%
30
A-0
69
$61
$36
stamped...
(State)
de
A5%s
f
Texas
ARio
ARussian
A-O
26
7s
of
AParana
97
$203/4
16%
M-N
AMortgage Bank of Chile 6s
Mortgage Bank of Denmark 5s
A-0
J-J
55
21
20%
1958
7s.—..—
AMedellin
A Issue
1948
6s
54%
54
69
.
F-A
stamped...-.
.1952
City (Peru) 6yas stamped.1958
Mortgage Bank of Bogota 7s
Alssue of May 1927—4
1081/4
103
'
2
90
81
stamped———May 1948
(stamped)———...May
6»
88%
— «
High
20%
M-N
—.1953
AExternal 6%s
A Lima
1043/4
72%
.1955
..
5s
Low
51%
■
Danzig Port It Waterways—
AMaranho
.1951
1st mtge 3s—
Southern Indiana Ry* 4s
7
5%s
Extended
105%
1053/4
(Calif)—
Gas
J-D
—
No.
•$54
3-3
.—
41
Range Since
January 1
Sold
High
$54
A-0
—
73%
•
Bonds
Sale Price Bid & Asked
>
111
127
■
Week's Range
or Friday's
Last
Interest
77/;.,' Period '
San Joaquin Lt & Pwr 6s 5—
ASchulte Real Estate 6s—_
Sale Harbor
New
118%
120
^
;V
SReported in receivership.
Abbreviations used above—"cod,"
certificates of deposit; "cons," consolidated; "cum,"1 cumula¬
tive; "conv," convertible; "M," mortgage; "n-v," non-voting stock; "v tc," voting trust certificates;
1," when issued; "w w." with warrants: "x w," without warrants.
"w
OTHER STOCK EXCHANGES
range
for
week ending may 19
Week's
Last
STOCKS
"""*:
:ioo
Preferred v t c—
■V:.-;.
/ 255
15%
15%
1.15
1.15
1.25
14%
602
7%
787
7
7%
66%
Monongahela West Penn Pub Serv—
1% preferred ————^—25
Moore (Tom) Distillery
—.—.25
Mt Vernon-Woodbury Mills com
100
_______—100
Preferred
45%
46
2.00
29%
30
Apr
7
50
Jan
Mar
Apr
69
145
18
142
Jan
150
Jan
46
97
43
Jan
46
May
64%
58
66/%
100
2.00
30
Feb
27
East
Boston
10
Co————
4%%
prior preferred—
6% preferred
Eastern Mass Street Ry
series
5s
A———
90
85
90
85
85
85
44
44%
2.90
24
3.55
2.00 May
Feb
185
Jan
90
101
Jan
85
Apr
43
Jan
44%. May
24
Apr
35% Jan
25%
25%
87
37%
778
55%
56
65%
65%
101
101
$35,500
22,300
i
2,000
61%
62y4
15%
15%
-".5
S3
Employers
Lines Inc
103/4
Engineers
101
May
May,
Week's
Friday
Last
of Prices
158%
157 Va 158 7/8
Lo'to
Par
American Woolen
TeL.i.
100
100
—
38%
Sales
Jan
41% Mar
33.25 Mar
10%
10%
84
HVaMar
—— —...—
10%
15
—-—"
Theatres..—..
.25
Loews
Boston
Maine Central RR
1%
16%
Feb
41% May
155% Feb
159% Mar
20
150
1,887
*
73/a
13
25%
420
24 Vi Feb
27% Mar
*
100
,13%
13%
100
ll3/4
Jan
14% Mar
112%
203
965/a
Jan
32 Va
in
Albany RR——
—.———25
112%
35
34%
353/1
2,567
Boston Elevated Ry,—-—-.-——100
72%
71%
'72%
204
Boston
9% Mar
7%
24%
Bird & Son Inc
Boston A
Apr
7%
I—IIIio
—....—
Anaconda Copper i
Edison
Boston Herald Traveler
Corp..
20%
20
39
353/4
67
19
424
20%
.
115
'
Feb
36
Jan
-Jan
May
74% Mar
22% Mar
Jan
7%
prior preferred.——
.100
preferred stamped———
100
5% class A 1st preferred—....—100
stamped
100
8% class B 1st' pfd stamped.
100
10% class D 1st pfd stamped
.100
Boston Personal Prop Trust.,
1—•
For
footnotes
see
page 2115.
Shawmut
Ilou
RR
:
1,208
40
2%
6
8
12%
12%'
Jan
41% Feb
Jan
4% Feb
3% Jan
400
629
7%
83/8
13/4
8
16%
Jan
17%
Jan
4%
.250
3%
Jan
6
Feb
31
33
23%
420
11,365
7
108%
38c
Jan
36% Mar
Jan
10% Apr
12%
101/4
12%
181
11%
Feb
13 3/4 Mar
6c
500
6c
Apr
15c
iy4
100
1
Feb
1% Mar
1033/4 Apr
30c
Jan
108% May
1,300
46c
Mar
25% Jan
40
May
30% Mar
1% May
107% 108%
36c
38c
280
,
'
36%
383/4
29%
29
295/a
860
25%
Jan
l3/4
1%
"PA
693
86c
Fee
14%
133/4
14%
350
12%
Jan
73/4
8y8
235
3%
3%
44
common—.
32
May
14% May
9% Feb
-4% Apr
36.
Mar
28
Jan
34
—5
25 3,4
25 3%
10
..5
—
133/a
103
12% Feb
14y4 Mar
919
75%
Jan
81% May
Jan
74
23%
Apr
78%
141/4
813/4
70 3/4
721/a
325
69 Va
.25
43s/a
44
190
43 y4 Mar
44ya Feb
.10
—
445/s
471/8
45
403/8 Feb
_•
11%
lio
97%
liy4
98 3/4
48% Mar
*12 y8 Mar
145
Co—..————
—*
81%
125
72
—....
506
73/4 Apr
2 3/4 Jan
Jan
33
Machinery common-
Fruit
6% preferred
U S Rubber
\323/8 Mar
6c
12 3/4
34
Drug Inc
,
———
Waldorf System
Inc
Westinghouse Electric & Mfg—...
22
10%
Jan
91% Feb
99
Jan
Mar
*
7 — ""7%
"7%
"26
24
2%
6
-
16%
9%
——
Twist DrllL—...
Shoe
161/2
36%
Torrington Co
United
Feb
—50
———1
Assn.
United
Jan
30
—25
—-——.
Co
Suburban Elec Securities
United
i
454
308
—
——
Stone <te Webster Inc.
Union
1.010
•
Mining
&„l%Mar
1%
313/a
1%
—
Boston A Maine RR—
6%
Quincy
37% Jan
1%
4%
33
Cos.—......—.. ._—1
Service
35s/8
267
303/4
•
common...."— ..100
..100
5$ preferred ....———...
Narragansett Racing Assn Incr—— ....1
..—5
Nash-Kelvinator
High
Low
41%
8
13% Mar
33% May
7% Jan
Pennsylvania
High
Apr
32% Jan
8% Jan
31.18 Feb
Pacific Mills
Range since January 1
Shares
12%
Jan
29 i/s May.
167
North Butte Mining——-—— .2.50
for Week
-Range
Sale Price
Mar
21% Mar
1,259
New England Tel & Tel.
Exchange
77
Jan
331%
Gillette Safety Razor Co——
Mar
/v..
Feb
Jan
13
361/8
383/a
National Tunnel & Mines—;—...
Boston Stock
11%
38%
39% Mar
105
33 y4
General Electric
69
*
Mar
Jan
81/4
248
11%
69
35%
Jan
59% Jan
1% May
Jan
General Capital Corp——
Jan
Mar
,6% May
5.4
.
990
293/4
38%
—1
—
First National Stores.——.—
—-
Refining......
11
29%
common-
Group Association...
Public Service
26%
59
101
17% Mar
;
92
45
100
National
American Tel &
95
100
41
Jan
51
Jan
56% Jan
32% Jan
125
preferred B—
....—
pfd adjustment——
101%
Mar
81
75
,
65
30
3.00
36%
37%
—^——1947
American Sugar
353/4
101%
34%
100
'
Mar
90c
75
6%
May
32
Jan
51/4
160
100
Eastern
30
3
30%
1975
—..—1975
stocks—
.
66
1st pfd series A——
Kennecott Copper
Interstate 5s
1%
1%
6%
•
Baltimore Transit Co 4s
500
66
100
—
Isle Royale Copper——.—
Bonds—
305
6%
7J/4 Feb
May
13% Feb
Fuel Associates—
Eastern Gas &
2.00 Mar
1.50 Mar
280
30
30%
Casualty—2
U S Fidelity & Guar
Jan
10%
5%
National Marine Bank———30
New Amsterdam
1.75
1.05 Mar
15 y4
5%
6%
High
Low
6
290
6%
133/4
Co—
Copper Range
Range since January 1
High
6
-10
Service
Cities
Low
—5
Hecla—
&
Shares
Jan
18
Apr
'
143
-_20
Fidelity & Deposit Co
Fidelity 61 Guar Fire Corp....— —10
1
Guilford Realty Co common
Houston Oil of Texas 6% pfd vtc-. .—25
High
Lots
High
15%
66%
Consol Gas E L & Power com.
Range since January 1
Shares
of Prices
Low
Far
Par
Calumet
for Week
of Prioes
Sale Price
for Week
Range
Sale Price
Last
STOCKS^
Sales
Week's
Friday
Arundel Corporation
—
Bait Transit Co common v t c—
Exchange
Sales
Range
Friday
Baltimore Stock
195
490
8
' Mar
-'••'••4
Jan
8Va Mar
5
Jan
8% Feb
5
Jan
93/a
12
Apr
70
,
-
Feb
•
Bonds—*
,
*
? it-
Eastern, Mass Street Ry— t.4'9
*
14
Jan
4%s
series
A
—
.1948
104
104%,
$2,000
103% Jan
104V4May
,
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2110
OTHER STOCK EXCHANGES
RANGE FOR WEEK
ENDING MAY 19
Last
STOCKS—
Chicago Stock Exchange
Last
"
Adams
(J
D)
Advanced
Allis
Laboratories
Chalmers
American
Castings-
American Tel & Tel
&
Armour
Co
Co
35%
108
50
5%
20%
39%
Jan
Feb
4%
Apr
6
1%
1
Jan
100
4%
Jan
6% Mar
1%
2%
1,900
1%
Feb
2% May
3%
250
3%
Jan
-
-
4%
24
Jan
20'
Jan
17%
100
16%
Jan
35%
23%
37
24%
1,150
34%
Jan
.38% Mar
Jan
24% May
5%
200
(E
Co
L)
common—
-5
24%
-1
5%
common—
Ring
common—
22
,
5%
10% Mar
250
28
Jan
20%
900
20
Jan
340
88%
' 21% Mar
Central
111
Pub
Illinois
Central
Common
$6 pfd-
Serv
—„——*.——
%
—1
lien
Preferred
■
1
6%
*
•'.'
Co
Crane
common.—.,
Co
54 Va
Simons
20
45%
Feb
51
24%
Jan
26%
Apr
4%
4%
150
4 Va
Jan
5 Va
Feb
200
18 Va
■
——
m—•
Finance
General
Motors
22%
23%
97%
99
21%
21%
39
40%
15
7
■
40%
15
12%
6
5%
Common
14%
Feb
250
15 Va
Jan
10%
Feb
15 Va
;;
Swift
capital
Co
&
Texas
13
Apr
May
6% Mar
11
.—5
95
U S Gypsum
S
(J
Steel
Walgreen Co common
Feb
95
Jan
18
Mar
4
Mar
3%
850
3%
Jan
1,000
51%
Feb
59% Mar
8%
8%
400
7. 4%
Jan
10%
400
8
Jan
;7—
.*
—_
a
10 Va
10%
•
'i
...
*
11
45%
50
400
38 Va
Feb
400
13
Jan
15
19 Va
600
19 Va
'Jan
8%
600
8%
Apr
11%
11 Va
11%
1,050
9%
Jan
11%
8
Jan
10
16
class B——
(new)
10
300
8
9%
a
-
14%
14%
100
13%
Jan
1%
1%
200
1 %
Jan
mil
10
capital
22%
22%
16
6%
16%
6%
73
72^
73
7%
8
—
.
1,200
1,000
250
250
15%
—
22%
Indep Pneumatic Tool v t c-j
«*
Indianapolis Power & Light common—«
Steel Products common
1
common
14
—
Indiana
preferred—.
5%
4%
5%
100
Illinois Central RR common
—*
__
(W B) Co capital——— -—1
7—
14 y4
■
,y
4
Mar
10% Jan
19% Jan
16
May
5% Apr
100
400
90
68
150
"
14%
.
IIIso
13%
Apr
4% Jan
5% May
17% Mar
22% May
17% Mar
Field
Co—
II1.5
Mfg class A-—,.
Manufacturing
:
16%
Jan
I—*
——
—.5
prior lien—
1% preferred A
v
6%
Jan
Chemical
Co
Montgomery Ward
For
footnotes
27%
97%
98%
400
91%
Feb
99% Mar
101% 101%
60
98%
Jan
101% Mar
10
2,550
8%
Jan
6
550
5%
Feb
6Vb May
Feb
39% Mar
9%
10
6
30
47%
Jan
49 % Mar
4,200
250
4%
4%
57%
57%
200
56%
Jan
60 Va
Jan
500
5
Apr
6V8
Jan
750
35
Apr
37%
Jan
Interlake
•
common
;
35%
35%
35%
Co
5
5
5
..1
Iron
Corp
& Co.
see
Jan
8% Mar
16%
V
Jan
1%
3%
Jan
3% May
Feb
5
20% Mar
12%
750
11%
Apr
13% Mar
18%
650
15%
Jan
20% Mar
25%
100
23%
Feb
27% Mar
43%
44%
300
37%
Jan
44 Va May
16
16%
1,050
15%
Feb
18
9%
16%
1,150
8%
Apr
10%
16%
—7—
—*——
Jan
12%
16%
Apr
18% Mar
8%
650
16
Mar
Jan
28% Mar
31% Mar
55%
55%
250
52%
Feb
56% May
1
15%
16%
650
14
Apr
.10
common—J—
Brands
45%
47
200
40% Feb
125
Standard Oil of N J——.—
Studebaker Corp common—..
55%
U
Co common
S Rubber
—
16% Mar
Last
Sale Price
STOCKS—
.—20
Baldwin
.
25%
Feb
4
Feb
6
Apr
5Va
8
8%
10
8
Jan
9
Mar
..100
102
5
100
Apr
109
Jan
7
■•
—
•*m
55
25
•
_
Art
Gibson
31%
_*
—_
—
35
10
99
Jan
8%
87/a
289
76%
56
139
19% 7,"
Feb
Kroger
8
Apr
Lunkenheimer
21%
10
15%
Jan
10%
10 Va
100
29
10
16%
17
950
13%
750
14%
51%
•
1,200
10% May
22%
Jan
16% May
13%
300-
6
Jan
38% Mar
5% Mar
9%
21% May
1L
Feb
33
Mar
c43%
15
Jan
51% May
Feb
6%
&
100
tV -teh
% Mar
600
—
Meteor
u..........
9
Mar
78
Mar
.17% Apr
21
Mar
Jan
Jan
11%
58
10%
Apr
12
31%
31%
50
31%
Apr
35
50
29
Jan
36% Mar
—
mi—ii—1*
.■•,'■
31%
Jan
35% Mar
21
Jan
25
Feb
8
Mar
4% Mar
7
May
34
34
,r
\
_
tu
—
33%
34%
415
24%
70
40
—
*
preferred——10
—
National Pumps
1
52%
Procter & Gamble
Randall class
53%
3%
52%
3%
A——
700
700
5% Mar
11% May
11% May
%
600
% Mar
% May
2%
2%
1,300
1%
Jan
2%
S.
52%
Apr
58 Va
Jan
3'/a
Jan
4
Mar
20
40%
Jan
45%
Feb
8'A Jan
12%
Apr
43%
10%
Printing.
10%
150
9%
Jan
10%
Jan
50
40%
Jan
45
43%
900
41%
Apr
S
May
10
10
43%
10%
44
American
:
City
•
&
Ice
~
.
,
,,
12%
13%
165
v
.
—-1
Fu^J
:
,"v#
—
...
13 Va
Standard
Brands
—
20%
19%
——10
—*
—
59 Va
;
225
rimken
Roll
Bear
•
Jail
14% Feb
15
Jan
20% May
4
Apr
5% Mar
51% Feb
59% May
50
28% Jan
31% Mar
50
43%
48% Jan
.4%
500
58%
59%
273
29%
29%
45%
4%
..
May
48 % Mar
12
'
\
—
———*
Columbia Gas
Motors
'
—.25
Rolling Mill
May
;
45
6%
1,767
43%
—10
S Playing Card——
U
21% Mar
10%
42%
•
Jan
Jan
10%
45
Apr
11 Va Mar
2,250
18% May
5% Mar
10
104%
Jan
7%
72
Mar
10%
19
Feb
13% Mar
May
335
10
:
24%
•
J
35
Apr
32
#
~~
26%
Apr
11%
10
Eagle-Picher —1...—.—
Jan
10%
23 Va
76
17%
8%
50
•77'
102% 103%
103%
50
—
102
25
10
..
——
Insulation
29 % Apr
45
8
Champion Paper & Fibre.
Crosley Corp
'
29%
3Va
—,——:—...
;
High
Low
High
28%
29%
Range since January 1
Shares
15Q
*
——————
Preferred
Sales
for Week
of Prices
Low
Par
Machine
American Products part pfd.
Week's
Range
Friday
6%
i\
43
May
Cincinnati Stock Exchange
200
10%
10%
47
Mar
10
*
common—_*
2115.
7
17%
12%
.—5
;
(The) common
4,550
18%
•
page
t
300
19%
19%
1
Central RR capital——
Inc
10% Mar
Feb
25%
Corp..
Nash-Kelvinator
7
Is
10
preferred
34
9
common——
(Glenn L) Co common
Martin
34
.100
t e
May
27% Mar
6%
—
100
—
10
68% Mar
300
37%
8 % Mar
3%
6
10%
—*
100
$1 prior preferred
Monroe
Apr
.
..
7% May
27%
98%
.
i-f"-
27% May
Jan
Electric
Genefal
stock
Jan
Jan
Cincinnati Street
Hart-
Common
3%
26 '/a
250
56%
Unlisted—
—
7%
1
common
Convertible preferred A
Midland Util 6% prior lien
Mar
55
2,000
7
' !
Jan
73%
.
*
Prod
27% Mar
Apr
24%
15% Mar
2,600
47
14%
...
Corp capital—
Midland United Co—
Jan
Mar
71
50%
700
150
29
—
•
IIII*
common
West
Miller &
7 500
700
21%
..
...
13% Mar
13% Mar 7
1,000
Curtiss-Wrlght
U.
Common
67/s
Jan
Jan
23%
300
24%
>
Masonite Corp common
MidJle
73
51%
11%
12
:
9%
32%
6%
*
Mickelberry's Food
200
65%
Churngold
49%
2%
7'
•*
III-7
$3% preferred
Marshall
100
13%
.
Jan
25%
6% Feb
73% Jan
10
Jan
7%
49%
..
...
—
Line Material Co common—
McCord Rad &
49%
9Vb
1% Mar
6%
7
3%
common
Libby McNeill & Libby common
McQuay-Norris
Ffib
12
72
Apr
Jan
6
—
5
La Salle Ext Univ common—
Lincoln Printing
45%
65%
Steel Corp
Bethlehem
Formica
preferred
200
48%
51
Mar
9
4%
5%
7%
Switchboard common
Kentucky Util jr cum preferred
Kellogg
Co
32% Jan
25%
20% Jan
500
6
1
Katz Drug Co common.,
&
31%
Jan
5
25%
Cincinnati Telephone
Cumulative
Jan
28
13
24%
Cincinnati Gas & Electric preferred-100
Leath
27%
150
1,500
.<
12
& St San com
American Laundry
Jarvis
Feb
31
48%
Copper Mining
Mar
'
Harvester
30 777
30%
13%
May
-
1
cap...—
Parts———.
Interstate Power $6
29%
31
Mar
8%
International
Jan
45 % May
8%
Co
18%
Jan
7 Va
45%
Harnischfeger Corp common.——10
Illinois Brick
14% May
Mar
8
Feb
7
7'/a
44%
:
..
13%
common
550
8% May
19%
Hershey
Mar
May
16%
13
Hupp Motors
i', 12
14%
Radio Corp of America common—
19%
Houdaille
Jan
7
May
14%
-''
Republic Steel Corp common
13%
G
5
Stocks-
Unlisted
Anaconda
Feb
*
Motors
Jan
Jan
•
50
& Santa Fe Ry com—100
common
Jan
59 V*
...
Brow Co
Apr
3%
36%
Corp
12%
3%
...
Werner
34%
50
37%
Radio
12%
58%
Goodyear Tire & Rubber common.
Gossard Co (H W) common
Great Lakes Dr & Dk com
Heileman
32% Mar
850
5
•
Mach capital
Yates-Amer
Apr
39
;
2 %
29%
7:
*
—
Jan
Jan
10%
*
;
——.
7% Mar
43
Apr
2
Bankshares—
Common
24
Feb
6
27%
May
13% May
Feb
Jan
Jan
100
—-L':'
v
prior preferred—
Wisconsin
5
11%
*
...
10%
300
4%
.
8% May
•
11
11
7
10% Jan
mil
«
Hein
-V■7 -4%
iimJm
;
34
33%
33%
common—
Standard
50
2
2
Jan
Jan
21%
,
50
700
Westinghouse Elec & Mfg common—50
Zenith
22 y8
51%
Wieboldt Stores Inc—
6%
3,850
13%7
Jan
3%
7
400
Utah Radio Products common.
Cum
12%
.10
Co common
Pullman
250
>
'[
100
Paramount Pictures Inc..
777
Feb
v-4% May
3 %
77 200
.5
capital—
United Air L Transp
22% Mar
—10
common-
common
common
17%
Apr
155
7%
—2
32% Mar
95
77
Apr
4%
—2
Jan
10%
Jan
8%
..25
...
common
Jan
400
71
150
31%
..15
(J R) common
(The)
Co
18%
1,250
330
777' 30
7
'
i
.
..25
—
capital
Corp
Thompson
29%
11%
12
80
I. "
11
17%
12
i
77
8%
Feb
10
&
—10
——.
capital
Swift International
100
22
■
r.
13% Mar :;
152
31
Sundstrand Machine Tool common- —5
1,650
31%
Apr
650
2
.10
16% Feb
.
Jan
8
11%
7%
.—1 7:
...1
New York
;
3% Mar
40% May
Jan
550
63% Mar
Jan
4%
Mar
21 Va
Jan
5%
30
Jan
31%
capital— ..25
of Indiana
Oil
Standard
————.
—
Pure Oil Co
Gillette Safety Razor common
Inc
102
Apr
700
30%
■>
Corp
36%
7., 100
;
21
common
Corp
Jan
200
9
31
20%
Mar
Jan
100
22 Va
—2.7
General
6
8%
Jan
'i
May
23 % May
Feb
450
16
13
15
23% May
150
•>,
13
—1
Feb
19
Apr
2%
4%
13%
Spiegel Inc common—.
National Stockyards capita I—*
Standard Dredge—
V.
5% Mar
93%
19% May ',;.
56%
4%
St Louis
12% Mar
Jan
240
1,150
Feb
26
81/2
7
m
Atch Topeka
7 15%
15%
29
Jan
20
■
>
91
700
4%
—5
capital-
Works
Lathe
Bend
South
American Radiator
99
ziii
General Outdoor Adv common.
Bros
77 200
Jan
2%
50
23%
Auto——
Denver Co
General
4%
4%
May
5
:7 200
25
Brewing common
(Peter)
12%
•
common
Drive
29
10
*
Co
Four-Wheel
77',;
26
5
Connell Dock
&
17% Mar
Feb
8,600
23%
...
13%
Apr
51
Car common.. "1-2
Elgin Nat Watch Co—
85 % May
26%
23%
Util Corp
60
Jan
51
pfd. —l'OO
cum
Jan
78%
1,400
15%
Apr
55
30
500
23%
Evfersharp Inc common.*..—
Goldblatt
Apr
Jan
Mar
26%
common——.
Electric Household
Fox
51 Va
.—20
Dodge Mfg Corp common.
Domestic Industries Inc class A
Gai'dner
200
14%
#
Dredge
54
85%
common—.—
Motor
T
Dixie-Vortex
Fitz
94
60
♦
Co
&
50Va
■
Cunningham Drug Stores—— -2%
Diamond
Jan
Jan
84
...50
——
Cudahy Packing Co 7%
Deere
45
82
May
4% May
Jan
150
11%
76 >
151
Sinclair Oil Corp
Apr
6% Mar
4% May
650
Co—
—50
part shs v t c A
Common part shs v t c B——
Container Corp of America———
14%
Jan
32
Jan
17
i,
1,150
V
3%
11%
—1
Trane
26%
Edison
—
Jan
425
58
Com
Common
10%
51
& -Stove common...
pfd part shares.....
c
Jan
12%
6,600
15%
common-.—25
1
Consolidated Biscuit common——..
t
Feb
47
85
*
V
63%
91%
60
lis
common——.
—10
Cities Service Co common—
Consumers
Jan
54
— -•
——
Commonwealth
Jan
91
...
Chicago & Northwestern Ry—
Preferred w i
*
—
Coleman Lamp
Jan
7%
200
6%
6
14
116 %
46
*
Chicago Towel Co—
Common
capital ———————
14%
14%
7';
Jan
58%
140
9%
9%
14%
77;;.
3%
Mar
34
123% May
79
100
29%
—.—.100
Preferred
Jan
% Mar
% Jan
% Mar
30
~
Flexible Shaft common-"—15
Chrysler Corp
60
*
—5
Cherry Burrell Corp common—
Chicago Corp common
Convertible preferred
Chicago
95 %
Apr
111
50
60
60
——*
——
Central States Pr & Lt preferred-
.77
900
%
114% 115
*
preferred———.
1,300
f?
%
%
Central S W Util common———_ -50c
Prior
.
-..V
Corp—
Secur
95
■
19%
58
common—•
Quaker Oats Co
29% Mar
1,050
X93
Apr
Jan
29%
10
Mar
18
•
common—— —10
(AM)
Co
Castle &
Jan
3
Steel Car
Apr
Jan
20
29%
6%
4%
29%
10
.30
convertible preferred—.—
5°/o
400
9
9%
.10
Brothers
Butler
5
24
6,800
110
29%
common———1
common
1
(The)
Co
—4
Jan
5
Piston
Potter
Pressed
10% May
8
100
Borg-Warner Corp
150
,
4%
91
58
...5
800
Burd
Jan
3%
3%
'•■37% Mar
6%
17%
Bruce
125
29%
Jan
10%
36%
20
58
—50
..100
Pennsylvania RR capital
Peoples Gas Lt & Coke capital
33%
6%
-5
Jan
Jan
10%
—5
•"
100
■■
9%
„1
—__
20% Mar
22
18%
Jan
-1
common—
16% Jan
130
90
8%
Berghoff Brewing Corp..——
capital—.
4%
600
36%
Co
100'
•
•
Feb
May
36%
Mfg
20% Mar
32
30%
common.——10
(The)
Co
9
8%
38% Mar
125% 125%
■
250
„5
Bliss & Laughlin Inc
———100
pfd———100
24
Corp common—
Binks
—...
preferred
Peabody Coal Co B common
5
6% preferred-*.---.-**---.-100
Penn Elec Switch class A
10
Jan
700
8%
Jan
17% Mar
33
Parker Pen
Jan
1%
Corp——
Aviation
Bendix
33%
18%
7%
159% Mar
;:
.
5%
3%
100
100
32%
Oklahoma Gas & Elec 7%
Jan
112%
Apr
156%
1
24
Feb
36%
18
..
Utilities—
Western
Jan
5%
..*
Feb
37
18%
North
17% May
May
400
2,000
157% 158%
—3
common
33%
500
■
Jan
*—3
common—..
30
36%
5% Mar
4
Aviation Corp (Delaware)—
Radio
Jan
17% May
5
Jan
Jan
18
North American Car
Jan
14%
i
,;•!•
1
.„
..
Belmont
12%
150
5%
—o
Mfg Co common———*
Athey Truss Wheel capital
Bastian-Blessing Co
100
109% 109%
109 %
.100
capital
common—
Washer
14
17%
14
35%
.100
-
Asbestos
Automatic
Jan
34%
—7
.—1
pfd—
Feb
4%
4%
1——*
Co
Service
13 %
200
61
53% Feb
140
4%
1-5
common
Mfg
Public
100
14%
17%
—
*
common.——.
58
14
common—
Mfg
Aluminum
Aetna Ball Bearing common—
Allied
57%
*
Abbott Laboratories
27%
32%
34%
common..*—..20
Northwest Bancorp common
:*
High
Low
High
Low
par
10
28%
34%
;
cap
i
High
Low
,
250
28%
stock.—I
10
Noblitt-Sparks Ind Inc capital———5
National Standard
Range since January 1
Shares
of Prices
Sale Price
STOCKk-
High
Low
Muskegon Mot Spec class A——
I Range Since January 1
Shares
of Prices
for Week
Range
•
for Week
Range
Par
Sales
Week's
Friday
Sales
Week's
Friday
Sale Price
45%
Apr
i
■
Volume
THE COMMERCIAL &
Number 4283
159
FINANCIAL CHRONICLE
OTHER STOCK EXCHANGES
RANGE FOR WEEK
ENDING MAY 19
Los
Cleveland Stock Exchange
Friday \Last
■:V"
.'
'
'
' '■
Akron
50
6%
Bodya.—A— .....5
Coach &
Apex Electric Manufacturing pfd.
Basic Refractories
:.j.—
'■
•
4%
3'
1
Cleveland Cliffs Iron preferredCliffs
Corp
common—
20
77%
14%
15%
—
15%
100
■
May
4% Mar
Feb
51% May
-.20
Jan'
May
Jan
22
Jan
Jan
78
May
13%
Apr
15% May
42%
1,217
Jan
18%
63
Feb
Manufacturing
Eaton
*.
Controller
Electric
:
50
'
——
_
Goodrich.
B
F___
•
iZL
■.*
Halle
Bros
$5
A,
M
Hanna,
*
pfd.
cum
—
_
_
_
■
Portland
Medusa
-"•*
Ohio
Jan
11%
12%
Jan
440
5%
36%
Jan
37 %
17%
Feb
12
Apr
1%
Apr
2
Jan
Feb
6%
53:
15%
15%
35
34%
35 -:<y
.
Thompson Products Inc
Van Dorn Iron Works.
12%
Jan
16
110
13%
Jan
15% May
1,056
32 %
Jan
36
9
33%
Jan
40% May
17%
100
15%
Jan
6%
490
5%
Jan
12 %
100
250
16
17%
—
6
Tool
«e
Weinberger Drug Stores
...—
West Res Inv Corp preferred
_
Motor
—
—
12%
May
7% Mar
Feb
12%
Feb
24% Mar
Feb
20
80
a24 % a 24%
50
.
'
Ruober
Glidden
Co
•A
•
General Electric common..
Industrial Rayon common
Central
York
New
Ohio
Oil
-
*
•
•
S
Steel
63
;.
*
common.
Jan
40%
Jan
15
17
Feb
20% Mar
50
17%
Feb
19% Mar
al6%
15% May
18
Mar
a50% a517/a
78
50%
Apr
55
Mar
Apr
16% Mar
-
-
100
15
14%
—
1.80
Jan
2.00
120
1.30
Jan
1.95 Mar
of
i
Douglas Aircraft Co, Inc
Electrical Products Corp
Farnsworth
Television
,
Motors
General
Goodyear
Corp
Tire
Hancock
Holly
Oil
Co
Oil
class A
DETROIT
Aircraft
Magnin (I)
Menasco
,
Mt
Co.
Gas
&
Elec
Oil
of Prices
Motors
85
8
common.—*
Hurd Lock & Mfg common—,—1
Kingston Products common
—1
4
.1
Packard Motor Car
*
Davis common—
Peninsular Mtl Pr common
Parke,
Class
B
Walker &
Warner
Mar
Mar
For
Jan
177/4
Jan
275
5%
3%
3%.
7 % May
370
23
*
-
Jan
Jan
5 Va Mar
V/2 Jan
37/a Mar
3%
1%
52 ya
2.100
10%
2%
1%
i%
1%
50c
Feb
Jan
2% Mar
150
200
v
Feb
8% Feb
3,100
60c
,
2% Jan
804
68c
2%
23
3% Mar
274
4%
426
740
60 c..
Maj;
300
300
,
9
30% May
Jan
150
J
59 y8
63e
:
57c
350
.227/4
700
iya
May
Feb
Jan
59 V4 Mar
4
May
70e
2%
70c
24
IV4
Jan
Mar
Jan
36c
28
2
Mar
7%
7 % May
600
1%
Jan
2%
27%
28
-.668-
2,996
437
24c
Jan
3% Feb
26%
Apr
Feb
1%
1%
400
1%
2
2%.
418
1% Jan
9
9
375
8% May
3%
10
3%
175
3
10
3%
1.000
Jan
41/4 Mar
30%
see
page
2115.
1,500
400
30
Jan
35
62%
900
60
Jan
70
Jan
200
24
Apr
30
Jan
48c
Jan"
a21
32c
5%
Apr
6% Mar
30%
Jan
33% Mar
36%
152
5%
35%
Jan
36% Mar
83
47%
Jan
49%
42%
43
257
40%
Jan
43% Mar
16%
624
16% May
16% May
6
28
100
9%
1,703
3%
3%
9%
3%
900
a48% a48%
9%
.40
29
27%
Apr
2,268
10%
Jan
13% May
340
23%
2,835
22%
Apr
24'/a
Jan
37%
37%
100
37%
Apr-
43
Jan
31
31%
908
30 %
Apr
32%
Feb
23
a29% a29%
26
29%
Jan
31% Feb
...25
a35% a35%
2
34%
Jan
36%
30%
1,632
24 %
Jan
31% Mar
625
35%
Feb
5%
Feb
23
23
'
31%
.—25
28%
30%
s>
36%
36%
625
6
5%
6
._
Oil
Co
_
8%
8%
2
9
963
5,983
18%
18%
18%
15
25
10
10
Ltd—!
a
78%
8%
a 78%
25
14%
15
953
400
6%
6
—
l%c
l%c
8% May
10
May
Feb
38%
Jan
6%
Apr
7c
1,950
Co
Co
19% Mar
15
Jan
%c Apr '
Jan
2c
May
10% Mar
9
Jan
156 Va
Jan
42%
Feb
43%
24%
Jan
27
67% Mar
25
25%
a66%
171
56
Jan
a32
25
32
May
158
Apr
Feb
Mar
32
May
4%
Feb
a3%
a3%
10
3%
Jan
"a35%
a37%
35
34%
Jan
36
a58% a58%
60
57%
Apr
60% Mar
r
a37%
a58%
al3%
al3%
13%
15
32
30
a36%
a367/a a36%
25
363/a May
34% Apr
Mar
81
a30% a313/a
5
——100
Mar
a4
20
4%
4
253/a
%
700
12%
Corp....——1
a4
12%
' g
344
al6% al6%
Edison Company....25
Commonwealth & Southern Corp...—*
50"
%
:
a36
V a26% a26%
a4
*
Corp
a
a36
Commonwealth
Aircraft
Apr
7c
20
a313/a
—
Electric
2c
110
a32
5
——
Borg-Warner Corp..
Case
(J I) Co
Apr
454
a64
a3%
•
May-
6%
a9 Vz
%
Va
"
..
Feb
Jan
3%
25%
5
Bethlehem Steel Corp.
18%
12
585
a 66
9% Mar
a42% a42%
a 158%
Ry—10G
25
3
Corp
Jan
8%
al57%al58%
a9
—*
—100
14
50
Sani Corp
-
«.«-
5,000
7c
l%c
25c
Co
Corporation
10
g
Continental Motors Corp ———1
Crown Zellerbach Corp ..——
-5
Curtiss-Wright
Jan
4%
8%
47% May
__
__
Topeka & Santa Fe
Refining Company
Vultee
Jan
13%
—25
Corp
&
3%
8%
13%
8%
Copper Mining Co..
Gas
Mar
12%
*
Cement pfd.
Stan
Borden
Jan
May
10
a27% a27%
15
Stocks—
Airplane
7
33
Feb
28
_
Mining
Boeing
Apr
May
8%
5%
160
6
28
28
Feb
47% May
27% Apr
_
California
Aviation
May
710
524
36%
1
Consolidated
&
36c
25,000
Apr
33
a46% a46%
1
Oil Company
Corporation
of
1.25 Mar
1
16%
Calif
_
Portland
Feb
Apr
34
25c
«...
210
Feb
30~%
Mar
36% May
35%
Feb
Feb
5
Apr
26% May
% Feb
% Jan
11%
Jan
5%
15
Feb
Jan
6% May
16
Apr
17% Mar
5
5
300
5
May
a 15%
Corp—...—_____—-—1
General Electric Company
a
Goodrich
Feb
2 ya Mar
10
Mar
3% Mar
3% Jan
37/a Mar
895
9%
2%
500
2 y4 Mar
3
452
Apr:
al5%-
120
16
May
213
35 Va
a48%
(B F) Co————
6%
Jan
17
Libby, McNeill &
Inc
Libby.
York
New
Pure
Central RR
Aviation, Inc.
Oil Co
—
12
Jan
Radio
Jan
37%
.
Jan
4%
.50
3y4 Mar
Inc
(N J)
& Webster Inc
6% May
Swift
&
400
1% Jan
3
Mar
Texas
7
7
100
6
Feb
7
May
Texas
1%
825
98c
Jan
iy4 Mar
a26ya
25"%
Apr
27%
Jan
270
12
Jan
14%
Apr
30% Feb
14 v*.
30%
210
6%
6%.
165
70
«,«#
a42% a43%
135
17%
is ya
420
8ya
200
25
4%
1,760
4
32% Mar
Apr
7% Mar
42
Apr
47% Mar
15%
Jan
20% Mar
6%
«.!«
8% May
16%
Jan
3%
Jan
9%
—'
Feb
18% Mar
4% Mar
a25% a25%
95
25 % May
25 % May
a29%
a29 Va a29%.
224
26%
29% Mar
a20% a20%
15
20%
43V4
230
41
110
15 ya
Corp (The)
Gulf Sulphur Co..
-*
9%
al6y4 al6%
8%
al6%
a25
Jan
Feb
22% Mar
May
43% May
Mar
Feb
18
1,326
8%
Apr
10%
Jan
60
16%
Apr
18%
Jan
50
24%
Feb
24%
-
15
.—25
—
29%
a55
Feb
88%
Apr
Associated Oil Co.—10
215
88% Mar
12%
250
12
Feb
13% Mar
29%
29%
150
29 %
Apr
30
Apr
a54y2 a55Va
157
53% Mar
55
Mar
16 ya.
430
16% Mar
a29% a29%
104
13% Apr
27% Jan
31%
Feb
a48% a48 V\
a35
a35ya
60
46% Apr
46%
Feb
45
33% May
33 % May
147/a.
1,075
13% Jan
14% May
15%
a29%
25
*
a25
a88% a89%
12%
a89%
...
Company
Apr
Tide Water
28
43%
*
25
Oil Co
9
1% Mar
34% May
100"
140
;
a25%
.25
*
Brands
Standard
5%
Feb
% Jan
1%
34%
al5% al6ya
..1
Corp of America
Standard
6% Jan
May
47% Mar
al%
al7% al7%
.10
—
Steel Corp—
—
Seaboard Oil Co of Del ——
Sears, Roebuck & Co.
.
Socony-Vacuum Oil Co
200
42
al%
8ya
18
-1
—
Republic
200
10
Mar
——*—
Apr
2%
43
a61% a6iy2
ai3>a
& Co Inc.—
Motor Car CO
40% May
57
30%
Pennsylvania Railroad Company.
phelps Dodge Corporation
Pullman Incorporated __——
6'/a
Jan
al%
6%
North American Company..——
Packard
77
a48%
14 y4
————-
Paramount Pictures Ind —
a42
a48
a26
*
North American
Feb
34%
1
Corp—
Railway Co—
Int'l Nickel Co of Canada..—
International Tel & Tel—
Northern
Great
a35% a36%
a42
—
Graham-Paige Motors
8%
2 V2
2VZ Jan
35%
—
General Foods Corp—
l7/a Mar
Jan
10%
■
1
25
_1
Viscose
8%
2% ;
1%
May
1
Corp
Oil
Gold
6%
1%
1
4
of
6%
1
16%
*
Oil Co
~2%
—~
Jan
common
Stone
common
10
5%
—10
Co
-1
~2Vz
375
33
Feb
Jan
Jan
4%;
16%
31c
Corp..
Montgomery Ward
iya
4
16%
„25
Inc
Oil
Jan
774 •. iya
4%
16% Mar
a21
Co
Loev/'s,
5
7%
Jan
15% al5%
60
.
Feb
100"
-
11%
1
Kennecott Copper Corp—
1,850
28c
1%
17%
229
1% Mar
10% May
174
27.c.
Ty8
Feb
16
16%
21 Va Mar
■>
58%.
15%
16
a
common
Pacific
2%
2%
—~
Co class B—
footnotes
3%
30%;
3%.
9
20
16
*
Co
1%
4% Jan
1,491
20%
23;
..1
__—_
—
Aircraft
2,625
4
10
Universal Cooler class A————
,
3%
3%.
—;
Tivoli Brewery common
■
6 Va Mar
20 Ya Mar
1% Mar
44c
—1
_
Cons.
100
Mar
Feb
_
preferred
6% preferred class B
5%% preferred C
So. Calif Gas Co 6%
pfd A
Columbia
10% May
30c
& Timber Co
Orig
—.1
Pattern common
United Specialtie s.
Jan
17/2
River Raisin Paper common—
.10
Apr
21% May
Jan
3%
1
common—.—1.
Reo Motors common
1
Rickel (H W) common—.———2
Bcotten-Dillon; common
v
4%
5%
Prudential Investment
Simplicity
8
Jan
18%
3%
60c:
Jan
6 'A May
760
7%
68c
15%
.
Mar
Feb
31
Feb
May
500
'
Bendix
Jan
8%
1
Corp
Corp
May
1,978
30.%
3%
21
Jan
574
30%
59 %
3%
500
21% '/v 200
18%
—...50c
common.^—.—•
Feb
474 Jan
Apr
19%: 19%
19%
(S. S) common.-.
10
Masco Screw Products common—
1
McClanahan Oil common..—_i
Michigan Die Casting common..
.1
Micromatic Hone common—1
14%
85
Jan
475
8
,
82 %■
265
■"»;
l7/a
1 % May
100
?
6
5%
19%
Kresge
common.,
71/.
15%
15 %
Hudson Motor Car
Mid-West. Abr
8% May
Jan
1.700
1%
21%
common———5
common———'—5
Ex-Cell-0 Corp common.:
—;
3
Frankenmuth Brew common:
1——1
Gar Wood Industries common—
.3
General Finance common,————1
General Motors common—————10
Goebel Brewing common———1
Graham-Paige common————1
—.
■"
85
.
V5%
Corp
common.:
Jan
6%
7
Eureka Vacuum
Kinsel Drug
6
1,027
8%
6%
'
Edison
Detroit Steel
1.230
8%
1%
Nav common__10
common-——1
.20
Detroit-Michigan Stove common—1
&
Detroit
l3/a
7
Cleveland
Detroit
Jan
10O
*
2%
Crowley, Milner common———
Cunningham Drug common
1%
1%
—i
common—
Range since January 1
Low
High
Shares
High
1%
8%
Chrysler Corp common-,
_—5
Consolidated Paper common——10
Continental
<
75c
27%
320
1%
for Week
Range
Jan
600
335
10%
34
Sontag Chain Stores Co., Ltd.
Southern Calif Edison Co Ltd
Atchison,
92 %c
75c
31
40c
Corporation..
Oil
Rad
Jan
40c
_
Corp
Union
Aviation
May
75C
*
Safeway Stores,
Atlantic
53
10%
m
Oil
Oil
Apr
1
common
Aeronautical
Sinclair
47
21c
Republic Petroleum Co common-
Shell
856
30
Wa
*
1
Co
Sound Pulp
Ryan
53
Jan
„
1st preferred
Ranch
% May
52
1
_
Pacific
Richfield
12%
45
Jan-
Clay Products
Rice
Jan
Jan
1%
& Dev Co
Pacific
Puget
10
38 Va
4c
Co
Petroleum
Oceanic Oil
59 % Mar
262
427
4,7uO
Co
Oil Mng
Occidental
Jan
12
45%,
lbc
Corp
Petroleum
Diablo
52%
599
12
45%
Mining Stocks—
Sales
1%
85
Jan
7% May
10c
& Co common
Mfg
Merchants
Zenda
Week's
Low
McLaren common
12
16c
Co
Imperial Development Co
Detroit Slock Exchange
Brown",
14%
Apr
1
Anaconda
Baldwin Rubber common;
Jan
7
45 V*
Angeles Investment Co.—.10
Los
Union
'M
—1
—5
1
1
13 % Mar
97/a
120
a58% a59ya
a59
•
American
common-™.
Jan
246
7
10c
Petroleum
Unlisted
Forge
250
12 y4
...
American Tel & Tel Co
Drop
Apr
12%
7
*
common
Co
Lincoln
Amer
Atlas
9%
12%
*
Co
Motor Car Corp
Hupp
Jade
Universal
Telephone: Randolph 5530
Allen Electric common
Jan
12%
Co
1
Corporation——,*
Oil
Yosemite
Chicago Stock Exchange
Sale Price
7%
50
12%
10'
*
common
Rubber
&
Development
Honolulu
Superior
New York Curb Associate
Detroit Stock Exchange
STOCKS—
20 Va
170
1
Hudson Motor Car Co.
Sunray
Members
York Stock Exchange
Last
May
235/a Mar
9y8
655
9%
1
Radio
&
May
12
Jan
4,470
a47% a47%
*
4
Fitzsimmons Stores Class A
May
9 % May
Jan
12
9%
1
America
Feb
85
23
23
70
Apr
8474 May
278
11%
11%
Jan
6
2,260
9%
83
85
*
45
154
70
7%
1
5
*
Transamerica
Friday
70
70
100
Corp
Co
Standard
watling, Lerchen & CO.
Ford Building
Feb
900
Southern
New
42
1.95
Corp
Creameries
Jan
20%
Apr
May
106
15
15
Youngstown Steel Door.
37%
Apr
45
18%
al8
a
al6
•'
•
Feb
187/a
35%
28
al8V4
"
41%
35
330
a20
al8
—i
common
common
Republic Steel common
U
a35% a36
a38 Va a38'/a
.
Jan
Apr
39% Mar
38%
10
70
a20
common
22% Mar
Jan
*
a397/8 a39%
a44 % a45
.
common
20
5
a207/a a207/a
■
common
Graphite & Bronze com
Tire &
Feb
15 % May
1.90
Preferred
6%
Unlisted—
Firestone
Jan
May
1.90
Pacific Lighting
Cleveland
28
1.95
Pacific Indemnity
Addressograph-Multigraph
12 Va
300
1
Jan
105
Jan
100
Mar
*7: 19%
Jan
8%
100
105
105
105
10a
_
Chrysler
130
28
2
Aircraft
Cessna
15%
28
—1
Corporation
Investment
Central
Lockheed
21% Mar
20% Mar
a38% a38%
_
—
_
Chica
Bolsa
15%
15 %
*
_
6%
600
Oil Corporation
Diamond
Blue
common
Consolidated
3% May
3,510
5%
Jan
9
200
21%
Apr
4% Mar
Jan
10%
100
8
18%
3%
300 V
1%
Mar
38
15% Mar
75
252
4
11%
Feb
6%
Feb
26
6
5%
...
*
White
23
Mar
21%
V
Vlchek
Mar
11
21%
Bros
Corp
Gladding McBean & Co..
21
16
Corp
Patterscn-Sargent
Richman
Apr
336
8
;
—
class B
Brass
Packer
A.
Class
34%
•
220
1%
'
—
_
Bros
High
Jan
Jan
3%
5%
1
Feb
21%
11%
*
Tile
LeMur
Feb
4
4
_
Mar
50
107%
Apr
3i
17%
*
Nestle
105
11%
»
Cement-
Paving Brick...—
Refining new
National
10
191
:37%
Metropolitan
National
Feb
45
Jan
43%
33%
:.
■■
Barker
Barnhart-Morrow
Low
4%
3%
3%
50c
Corp
Company
Range since January 1
2
"
33%
B
45% May
-
43% May
105% 105%
■-
—
6
Kt
class
G
160
11%
_
Sessions.
&
A
Feb
49%
48% Mar
Feb
36%
21
*
Kelly Island Lime & Tr
McKee
40 Va
60
•
Jaeger Machine
Lamson
57
~
Petroleum
May
231
^"•r
Interlake Steamship
Jan
23
43%
'
_„100
57
Jan
43%
y.
•
•
preferred
Apr
20%
49%
:
$
A
50
a46% a48
"
—
_
Rubber
&
Goodyear Tire
Greif Bros Cooperage class
23
a44 Va a45 Va
*
Mar
45
100
'./. 80
/
50
23
j.";
•
—_
$
Rubber
Faultless
140
a43%' a44 Va
-
Accessories
Bandinl
Consolidated Steel Corp
'
$
Aircraft
Shares
High
Low
105% May
104%
10
374
1,018
-78
Feb
15
415
20%
203/4
78
.
—
11% May
Jan
40%
63
105% 105%.
...
Controller
Apr
4% May
300
20
197/a
i
:
Preferred
Clark
15
4%'
-
10
96%
120
a51% a513/4
_
-
11%
100.' 100
6%
Feb
5%
50
.
for Week
Range
of Prices
Par
High
1,010
.
6%
11%
..
y
-—100
—
Brewing Corp of America
City Ice & Fuel
High
Low
1
Range since January
Shares
of Prices
Par
V
Manufacturing—
Brass
American
•'
Last
Sale Price
STOCKS—
Sales
Week's
Friday
for Week-
Range
Sale Price
STOCKS—" -
'
•
Angeles Stock Exchange
Sales
Week's
a35
14%
143/a
THE COMMERCIAL &
2112
Monday, May 22, 1944
FINANCIAL CHRONICLE
OTHER STOCK EXCHANGES
Par
Union
Carbide
Union
Pacific
Air
United
Aircraft
United
Carbon
&
Lines
.100
.—5
Corp
—5
;
830
165
V/o
*
Pictures,
Bros
150
1%
1%
a50% a517/a
__
a24%
a51%
United States Steel Corp.—
Warner
al07%al07%
a24% a24%
28%
28%
al2Va
5
Inc
Co—
78%
Feb
Westinghouse Elec & Mfg Co
Willys-Overland Motors Inc_—
Woolworth Company (F W)
—
._50
a 12%
Apr
53 % Mar
14
42%
Feb
Feb
95
Feb
9
Apr
39% Mar
6%
37
50
Jan
Mar
Mar
Co
Renner
San
-/
Philadelphia Slock Exchange
Low
Par
Chrysler Corp
Prior
common—
preferred
—
7%
:::io
Motors—_——-—:
General
Corporation
Members
Jan
14%
13%
Apr
41%
39 %
Apr
450
v
Feb
332
8%
Jan
10
5%
5%
197
4%
Jan
180
5%
Apr
5%
4,414
29%,
1,644
26
19%
24%
23%
24%
2,303
1,920
18% May
23% Jan
117% 118%
41
5%
4%
Jan
Jan
5%
25%
Feb
—3
-50
36%
Jan
118%
32%
470
31% Mar
34%
490
25%
Jan
30% Mar
16
32%
Jan
37%
267
27%
Jan
38%
Jan
43
Par
Apr
Century
'
29%
29%
-50
40%
40%
.25
ft
ft
;
1%
1%
I
;
10
1%
fs Mar
1,188
-
1% Mar
33%
152
1%
1%
9,445
25%
25%
6
33%
1%
31%
Apr
1% Mar
22%
Feb
.—1
7%
24%
Range
36%
of Prices
Low
—-Far
Jan
104
15
Shoe common—
17
17
80c
75c
—
———
Steel
Apr
27% Mar
7%
Jan
9% Mar
Jan
15% Mar
13%
8%
8%
100
7%
Jan
9
4%
137
4
Apr-
10
13
18
213
16%
Jan
15%
161
14%
Feb
Mar
18
15%
15%
—5
15%
May
St
Stix,
Electric common
Bonds—
.'
v.''-'
6%
preferred
preferred
7%
Low
2%
100
100
Ajax Oil & Gas—
Aldermac
Steel
Algoma
—
1
•
Copper
19%c
———*
common
Anglo Canadian Oil—————
61c
Gold
Aquarius
Mines
Area
Mines
Gold
Gold
Bagamac
Mines
1
1
Base
Bear
—,
Metals
Ltd
__
__
—
2%
*
Mining——
Mines
13c
Jan
99%
Jan
Jan
96
Jan
99%
Jan
63c
5.90
7,300
<
6%c 6%c
17c 18 %c
70c
83c
3.60
3.80
class A
."
35c
Broulan Porcupine Mines, Ltd
Brown Oil Corp
2115.
1.09 May
25 %c May
18%c
May.
9c
Jan
Apr
87c
May
3.20
1,665
Apr
Jan
U1V2C Jan
9,125
14,100
12c
Apr
Jan
4.15
Feb
23c
May
24c
2
148
May
157
Jan
234
10
230
Anr
236
Mar
2%
3
200
Apr
3
13c 13%c
5,600
2%
Jan
29
5
251
60c
60c
800
42%c45%c
9c 9%c
62,812
37c
14,600
6%c Mar
27c
3,050
9%c
26c
n%
*
_
26c
1.70 Mar
21%
151
60c
20c
13% c May
1.15 May
Apr
Apr
16%
85
16% May
20
16
17%
13
40%
65
13%
240
9%
11%
110
33%
60%
Jan
18%
16%
Apr
Feb
12% May
14
Feb
Jan
44
Mar
14
Apr
10
May
215
11
Jan
9% May
9
Feb
31
Jan
p5
2,500
60% May
66% Apr
665
32
31
Range
Calgary & Edmonton Corp Ltd
Calmont
Oils, Ltd
Canada
*'
—
16%
4c
26
Malting
1.80
6c
Canada
Packers
Cable
&
Preferred
718
,106
11
46%
5
95 %
34%
20
106
.....
18%
preferred
155
20
91
128
Apr
5
Jan
*
4
Celanese
31
Apr
157
Canadian
10%
45
705
8%
Jan
10% May
Mar
Mar
23%
130
22%
Jan
•
*
13%
255
12
Jan
14
8%
1,940
8
27
340
100
143%
32
185
50
Co.;
14
>
28
35%
39%
15
5%
Feb
28
%c Apr
11%
Jan
22
21%
Apr
24% Mar
21%
22
960
21
24
24
50
22
20
1.34
57.511
76c
80c
20.000
6c
6c
600
Mar
Jan
19% May
320
1.24
*
*
3,700
60c
25
1
_1
3.707
10 Ve
2,400
1
2,580
1
82.400
Research Corp
69c
'
Jan
70c
Mar
4%c
Ry
900
Apr
...
Jan
Apr
Jan
12%
Feb
1.90
Jan
1.16
Feb
Jan
1.92
Feb
8%c Jan
21c
May
17c
48c
Mar
Jan
*
1.26 Mar
1.65 Mar
2
8,900
1.78 May
2.08
Jan
12%
Feb
Cochenour
Cockshutt
Mining & Smelting..
Willans Gold Mines
Plow
Ltd
:
Commonwealth
Coniaurum
Jan
Consolidated
8%c Feb
Consolidated
20
•
1
Co
Lake
Coin
Commoil
Jan
1.62
6%
80c
Mar
1.50 May
90c
17% Mar
300
Apr
1.40 May
Jan
150% Mar
205
2.725
Jan
24%
Mar
Feb
13,029
25
...
Jan
Feb
Mar
1
22%
93c
Gold Mines
Jan
May
Mar
Chesterville Larder Lake Gold Mlnes__l
Chemical
Chromium
100
19%
A
Malartic Gold Mines
Jan
67c
10%c Jan
1.843
1.30
Industrial
Quartz Mining..
Jan
141% May
204
Canadian
Pacific
Apr
97/s
24% Jan
50
Alcohol
Mar
8% Mar
Jan
Jan
Jan
136
40%
*
General Electric
Patricia
Apr
5% Mar
93% Mar
24
.100
& Dock
Dredge
Central
21
30
•
common
Preferred
Canadian
Gold
Feb
35% Feb,
25
...
preferred
Canadian
Jan
May
12% Mar
20
preferred
Canadian
Mar
Mar
31% Jan
2,025
*"
common
99
153
93
68
Apr
Apr
46% May
Jan
Jan
5%
7%
7%
106%
Jan
9%
•
5
131%
common.
f
Mar
90
130
20%
•
112
Jan
145
7
151
10%
Jan
Feb
9%C Apr
43%
5
.....
...
Canners
Canadian
6%
25c
'
May
104% Mar
10
149%
—•
'Preferred:
New
.7%
110
92%
-loo
—
Breweries
Canadian
1st
110
7
Bank of Commerce—^.^.100
.Canadian
Conv
May
5
Mar
May
2.24 Mar
May
6c
20%
«
B
scommonl
Bakeries
Canadian
Co
19c
100
34%
—50
Wire
3.000
10%
151
4c
26
,
1.80 May
4.200
6c
95%
»
___—
Jan
24% Jan
1.87
6c
46 %
II
.....
I100
Mortgage
¥
Steamship Lines common-
Preferred
Canada
:
106
:
*
Co
3c
Jan
9% Jan
17
Jan
Jan
110
19c
■
15%
19c 20 %c
1.80
4.35
Jan
5%cMar
20
.100
Canada Permanent
Canada
■1'
3.55
5,000
26
Cycle & Motor preferred-
Canada
6,000
3%c
1
...
class A
Bread
7c
16%
II-l
.....
Canada Cement common..,
Canada
200
4c
—
Camp Bird Mines
High
Low
3.95
670
#
1st preferred-
Range Since January 1
High
16%
Bunker Hill Extension Mines—„
Caldwell Linen Mills
Shares
3.90
3.95
Products Ltd
Building
Cariboo
Jan
Jan
Mat
for Week
of Prices
7c
Mines
Castle Trethewey Mines
Apr
May
1.00
11% May
Sales
Week's
Canadian Gold Mines.
Gold
Jan
2.45
11%
22%
ll7/a
19%
„
May
12% Mar
•
77c
May
18
Central Porcupine Mines
36c
Jan
153
43%c
20
Canadian
10c
29
"
Ankerite
Canadian Car & Foundry common
148
148
151
1
Feb
16% May
Low
Apr
58c
24c
__
*
6.75 Mar
Jan
152
1
Apr
70c
28c
226,000
17c 19%c
May
IOV4
8%c Jan
4%c
1.600"
18c
16%c
May
10 %c May
32,700
*
Oil
page
17c
6,400
30,300
,
Jan
13,300
•
Power
55c
4,500
ll%c 12'Ac
54c
5.75 May
36,100
22c
19c
58%c Feb
975
1.09
48c
8% Mar
5
170,129
21%
see
88
45
1.82
1
Oil
footnotes
180
98
1.10
22%
For
90%
r
92c
1
„
Columbia Packers Ltd
Dominion
21c
9
May
1.77
British
British
Feb
21c
1.01
Bralorne Mines, Ltd
_*
Brazilian Traction Light & Pwr com—•
British Columbia
14c
Jan
1.79
1
*
Bonetal Gold Mines
American
May
15c
*
100
;
Bidgood Kirkland Gold—
Bobjo Mines Ltd—
British
10c
1
Beatty Bros class "A"
Beli Telephone of Canada
1.79 Mar
1,000
4,600
1
1
Ltd—
May
230
148
*
common
Exploration & Radium
River
17c
1
——100
Beattie Gold Mines
Berens
73c
3.75
100
—
Jan
14c
24,550
90c
6%c
1
Toronto
Bread
12c
1
—
Mines
Bank of Montreal
Barkers
20c
.ft.ft._ft.1
Bankfield Cons Mines—
Bank of
92c
-1
—
75
Jan
Jan
11c
61c
5.75
—-————ft—.^ ft
—
Ashley Gold Mining—;.
Astoria Quebec Mines
Aumaque Gold Mines
Aunor
1
;
36 y4
Jan
Jan
1.41
89%
—
I
Mines—
Apr
7%c Jan
1.10
3'/a
1.38
98
—*
—
Ltd——
Gold
Arjon
Armistice
5%
Ltd
Huronian
Anglo
Canada
'58
14.700
9
90
common
of
Co.
24
i 12c
18c
„
•
pfd._100
Ltd
Aluminium
Aluminum
4,869
72
.
Apr
He
—1
—
Consolidated Oils
Alberta Pacific
10c-
High
Low
2%
27
72
__
lOcft
,ft
12
395
60%
Sale Price
Buffalo
Range since January 1
125
34%
33
34%
50
17
MAY 19
Buffalo
Shares
2%
———*
16%
20
11
Last
High
_*
:
Apr
33%
inc—1964
STOCKS—
for Week
Range
of Prices
For
—
13
LISTED MARKETS
Sales
common-.
Oil Co
Jan
40
9%
Par
ft':.'
Acme Gas and
35%
14%
' V:."ft 'ft1--:'''
-
Serv 25-yr conv
Exchange
Week's
Sale Price
STOCKS—
Abitibl Power & Power
372
260
13%
13%
_10
15
.
Canadian Funds
East
37% Mar
9%
40%
12%
Friday
Toronto Stock
>:'' r
May
9% May
12%
•
Baer & Fuller common
Wagner
RANGE FOR WEEK ENDING
y'-v
80c
iJan
16%
Pub Serv
Louis
St L Pub
Apr
CANADIAN
Friday
Mar
Apr
7
6%
16%
Dry Goods common
—*
"A" common——1
Rice-Stix
8
43c
5% Mar
"
17%
—
—..
24%
8%
4
♦
Electric common.,—•
————10
—
10
234
24%
Jan
350
212
7%
80c
High
Low
High
May
16%
17
*
*
*
Candy common
May
17
20
25
common—25
Portland Cement
15
May
37%
8
20
,
Feb
Jan
17
37%
9%
37%
common—
13
105
14%
__100
common
National
Range since January 1
13%
*
-100
McQuay-Norris common
Meyer Blanke common
Midwest Piping & Supply common
8%
8%
*
7%
__
May
Jan
12
50
Hydraulic Pressed Brick common.
24% May
May
11%
40
17
Hussmann-Ligonier common
24%
*
104
15
Missouri
Shares
10
104
-
Feb
13
1
7% Apr
5% Mar
Jan
Apr
23
13
1
Electric preferred
General
Jan
2%
27% May
for Week
Sale Price
70
Falstaff Brewing common——
Sales
Last
100
12
Emerson
Jan
2
6%
5%
60
5%
-100
Preferred
"Week's
7%
24
5
Columbia ..Brfiw common
Jan
High
Low
24%
,
1
Range since January
Shares
High
7%
5%
Coca-Cola
Feb
%
of Prices
Low
10
Electric Co
Bottling common—— —1
American Inv common
30% Mar
184
36%
36%
116%
Sales
for Week
Range
Sale Price
stocks-
Feb
30
Last
Feb
32
Friday
Oil
«
593
Exchange
Week's
Friday
Jan
Pittsburgh Stock Exchange
Devonian
Bell Teletype SL
St. Louis Stock
Jan
30% Mar
22
Landis Machine common
Duquesne Brewing
Phone
CEntral 7600
Chicago Stock Exch.
Chicago Board of Trade
Associate Member Chicago Mercantile Exchange
New York Curb Exchange Associate
Laclede
Columbia Gas &
;
Mar
29%
V;
32
30
Byers (A M) common—:
Clark (D L) Candy
St., St. Louis 2, Missouri
6% Mar
:
18%
Co—
25% Mar
7% Mar
6%
51%
29
Allegheny Ludlum Steel—
J 21% Apr
168
23%
St. Louis Stock Exchange
International Shoe
Blaw-Knox
1% Mar
New York Stock Exchange
14% Mar
43'
Feo
V
■
5%
8TOCKS-
57/s Mar
80c
22
1871
Established
Jan
262
9%
——20
Westmoreland Coal
6%
46%
Apr
5%
.25
Jan
Feb
3%
950
/;
,
Mar
86
Jan
Mar
59%
•
$3 preferred
..—-*,
Improvement——
*
Gas
5
40%
9%
common——
United Corp
United
78%
19%
——.—
1
22%
23%
300 North 4th
158 :
29%
Transit Invest Corp common——
Feb
5
1
Jan
58%
-25
———
Jan
7c
Edward D. Jones & Co.
Apr
9%
—I*
*100
-
—
preferred
Preferred
132
771
a
Reading Co 1st preferred—
Paper
85%
IIIl
—
-—„
90c
Jan
8 % Mar
59 % Mar
•
Pennsylvania RR
Scott
Apr
-50
Pennroad Corp
2nd
7%
966
IZZ50
Philadelphia Electric Co common.
$1 preference common
.—.
4.4% preferred — —-—
Phila Elec Pow 8% pfd
—
Philco
7%
50
59%
a
Lehigh Coal & Navigation—
Lehigh Valley RR
..
National Power & Light—
40
Jan
"
41%
May
2c
St. Louis Listed and Unlisted Securities
21% Mar
Feb
5%
14%
«
Battery
Apr
34%
181
39%
i.——
65c
19,000
4%
common...
125
5c
Jan
42%
42
Glass
65c
159% Mar
'90
5%-5%
5%
Jan
190
7%
84%
85%
16%
Jan
7
;
7%
Light (wd)—_. -13%
Delaware Power &
Electric Storage
150
7
*
—
19 '/a
14%
156
40
18%
40
4% Feb
4c
Toy Mining—;
'High
Low
224
558
40
1% Apr
112% May
5% Mar
Jan
95
60
Range since January 1
15%
19%
5
—
Curtis Pub Co
Shares
157% 158%
158%
.
41
May
65c
,
Westinghouse Air Brake———
High
15%
15%
*
American Tel & Tel-:
100
Baldwin Locomotive Works v t c
13
Bankers Securities Corp preferred—50
Budd (E G) Mfg Co common—
*
Budd Wheel Co
——-——*
i
American Stores
1% Mar
1% Feb
150
■
8
Jan
50c
300
1%
4%
4%
"
Jan
for Week
Range
of Prices
Sale Price
STOCKS—
6%
17% Mar
8% Mar
,
Sales: V
Week's
Friday
7% Apr
400
108% 112%
47/a
1
—————
States
169
7%
85c
1%
111%
Shamrock Oil & Gas commonUnited
■
85c
Pittsburgh Plate Glass--—
25
Pitts Screw & Bolt Corp,———♦
15% Apr
8%
7%
common-—.—*
Brewing
Pittsburgh
47% Mar
93
104
280
National
High
Low
420
15%
8%
8%
.10
—
:—_—.—10
Fireproofing Corp—
*
Fuel Supply
Mountain
1 % Mar
Apr
11%
75
8
8
27%
Apr
Gas
Star
Lone
15%
Walker Refractories.
Harbison
Feb
108% May
22% Apr
1% May
50% May
50
a38% a38%
-10
27%
2
a97%a98%
a98 %
—1
108% May
22% Apr
5
a44% a44%
.100
Western Union Telegraph
78%
110
Range since January 1
Shares
High
Low
Par
High
__
Company.
(Del)
Corp
Corp
a 79%
a79%
Transport—
Railroad
United
Low
.
Sales
for Week
Range
of Prices
Sale Price
stocks—
Range Since January 1
Shares
of Prices
Low
High
Sale Price
STOCKS-
Week's"
Last
for Week
Range
Last
Friday
Sales
Week's
Friday
MAY 19
FOR WEEK ENDING
RANGE
Petroleum-—
Mines..
Bakeries
Mining & Smelting
21,288
—*
2,000
_*
*
29c
1.38
2,600
600
1.25
11%
Apr
Jan
1.72
Feb
Feb
15%c Jan
28c
Feb
22c
Apr
May
33c
Mar
20c
29C
1.36 May
1.70 Jan
*
160
15
Jan
15%
5
775
38%
Jan
42% Mar
41%
Feb
LISTED MARKETS
CANADIAN
FOB WEEK
RANGE
Friday
STOCKS—
(Toronto)
-100
Exploration-^.—
—*
Consumers Gas
Conwest
Cub Aircraft
Corp
341/2
13 %C 14 %C
14c
Tar
30
33% Mar
106 % 106%
30
106% May
160
Oil.——
Eastern. Malar tic
Class ' B
11
B
19/2
5 %
6%
3.40
24
50c
57c
8%
Gold
Halcrow
Gold
Halliwell
Carpet
Harding
5.05
29,943
1.99 Mar
9c
11c
58,000
5c
5c
4,000
43,500
1,000
I %c
Limited
5%Cl
84%
Feb
*
52% Mar
5 6'A
Jan
18,600
3%c
Apr
7%c
2,000
6%c
Feb
10c
3%
48
30%
34
May
24
22
100
19%
Jan
24
4c
4,500
2%c
Jan
360
7'Ac
17c
15,300
6%
20
11,500
4%c
6%c
Jan
6%
90c
5,700
Jan
120
Jan
85c
i.29
Apr
Waite
9,000
53c
2,910
41c
Jan
75c
38c
Jan
68c
Apr
500
11 %c
Feb
13c
Mar
16%
160
15%
Jan
16%
11%
4,470
27C
30c
30c
Apr
4%c
Apr
33c
29%
282
18
125
II
18
165
11
Feb,
J.
Consol
M.
77
7
72
Jan
13%
2
11%
Jan
•
77 J
13
V4
166
■it
-
18
168
Jan
161
8
A
:.*
1
12%
Apr
14%
225
10'%
Jan
12'A Mar
200
6%
Jan
30,900
54%c
70c
87c
19%
20
,
101%
25
101 101%
109%
110
4.75
4.90
28%
29
May"'
Feb
87c
21
:
20%
27
27
20 %C
15c
23C
v
;
31
;
May
5c
Jan
23c
3c.
Apr
6'Ac Jan
23c
Jan
40c
1
3%c
Apr
2%c
3c
8,500
l%c
Jan
8.85 May.
4c
10
Ja,n
Feb
9,110
Kirkland
1
50c
50c
65c
4,800
30c
Apr
80c May
——_i
95c
93C
97c
13,200
90c
Jan
1.17
Right's
Lake
1%
4,900
16%
16%
610
5.75
5.80
2
——
,
Shore
Mines.
Ltd..
1
•
Lamaque Gold Mines..
Landed
Banking
a
♦
—
Cadillac Gold Mines—„_i
Laura Secord Candy..
1
3
Mines
Orb
Little Long
Loblaw
Mines,
.Class!
B
.1
:
class
Jan
V 17%
Jan
5.75 May
6.45
Jan
14'%
—.*
10
60
Jan
80
May
100
14
May
16
Mar
13c
14,100
14%
14%
14%
110
3%c
3%c
2,000
:
I
„
MacLeod-Cocxshutt Gold Mines
Lake
Red
Madsen
Gold
6c
Jan
15c
Apr
13%
Jan
14%
Feb
.1
1.83
Jan
2c
10% Mar
6'Ac Jan
11
May
17
Mar
6,395
1.84
Jan
2.26
Jan
2.10 Mar
2.47
Feb
Jan
1.73
Feb
Feb
2.08
2,15
600
1.34
1.34
1.43
3,825
1.26
1.33
1.24
1.40
6
93c
95c
3,400
8
8
135
2.44
2.65
17,050
8.50
8.50
600
35
1
35
1.000
95c
—1
1
2.53
u_.
1.64
May
7%
Jan
89c
275
Feb
6
4,483
6
I
1
10c
—i
39'Ac
-100
—_
20%
B
8c
25
25
25
245
250
-1
3%c
Ltd
-1
Mar
1.09
Jan
6%
2.32
8% Mar
Jan
Jan
2.80 Mar
35c
Apr
1,100
2
3.65
2,128
6'Ac
5c
39c
37c 42 %c
26,400
8c
91C
91c
1.00
600
67c
66'Ac
69c
21,169
10%
,50c
,5 A
10%
475
1
11'A
common.:
32
5
15
170
108
93
46c
69c
32
.100
1
—
55c
I" 130.745'
1.39
3%
55
2%
Jan
8%
8%
425
5'Ac
Jan
8%c May
27
115
23%
Feb
27
Mar
"Feb
12.896
1■
5%
Apr
7
Feb
15'A
4%
Apr
64
65
61
Jan
65
71 %
71
71%
80
68%
Jan
72
2.48
2.63
20.065
2.04
Jan
2.71 May
19c
19c
1.000
Mar
.Jan
15c
May
20c
2.50 May
2.50
405
2.05
Mar
5'Ac
5%c
6c
5,500
4'Ac
Jan
1.68
1.68
1.72
7.725
1.60
Jan
1.84
Apr
i
2.13
2.13
2.20
1,950
1.96
Apr
2.47
Jan
Ltd
Sylvanite Gold Mines.
15'A
Tamblyn Ltd common —^—..
Teck-Hughes Gold Mines
Gold
Toburn
class
Corp
A
—1
7'A Mar
Fuel
Classs
United
class
Jan
Feb
Jan
88c
100
16
3.000
15c
4,800
<
Mp
97/sC'May
8%
8%
8%
275
7%
Apr
Feb
.50
21 %
21%
455
19%
Jan
7%
7%
330
6%
Apr
8'A Feb
Mar
Jan
1.15
Jan
100
Apr
21'Ac May
54c
May.
49c
7'A
7%
245
6%
Jan
25
20
24%
Apr
27%
12
Jan
16>
34%
Feb
32%
Jan
38
Feb
13%
115
34%'
34%
85
5
Feb
8% Mar
Jan
5% May
5%
5%
120
4%c
5'Ac
2,000
3%
4
575
3%
Feb
1
2.43
2.40
2.48
7.840
1.96
Jan
2.55
•
7.80
7.40
7.90
6.018
6.00
Jan
7.90 May
9c
10'Ac
138.800
5%
—
—
Oils
—1
——
9'Ac
Preferred
5.00
Mines, Ltd
Worts
&
1.593
5.00
115
63
59
21
303
20% Mav
26c
U50
23c
26c
Mar
21%
26c
'
Feb
15
75
16%
15%
16%
295
15
Jan
16%
—1
14%c
14 %C
16c
46,200
4c
Jan
20c
6'A
6
6'A
6
Apr
7%
Jan
.300
62%
62%
63
Jun
6UV2
Apr
preferred— .100
_»
:
& James 1st
pfd.
Wrlght-Hargreaves Mines
Yankee Girl Gold——
Mills
Jan
5.30 May
21
85
85
86
.100
85
common——
105
159
.
10
86
r»
3,05
•}
3 ^
40
Ymir
Knitting
Feb
19c
Apr
Apr
Jan
Winnipeg Electric common
Alexander
Jan
Apr
58%
I
common-—
Preferred
57'A
May
Jan
21
—
Gold Mines
Ltd
4.85
9c
4.50
7c
5
58%
corn-
—
4%c May
*8
4c
8
8
30
30
r»-v
8.500
250
60%
94'A Mar
prr
pp
Jan
3.50
3'Ac Mar
4'Ac
2.95
6'A
Feb
May
Jan
8
May
33
Jan
Feb
May
21'A May
.7%
Mar
•
:~4
.25
—
Ventures, Ltd.
York
Jan
85
Apr
3.85
Apr
May
40c
88C
B2'A
13'A
—*
A—__.
Upper Canada Mines Ltd
Wood
3.20
88c
100
25
7'A
A—.
B
Vermilata
3.705
...
Oils
United Steel
20
3.40
16
Apr
46c
—
Class B ■;__AJ————.
United
15%
3.30
15
20c 21 %c
88c
100
Union Gas Co.——
United
3.40
1
Co
Trusts
Exploration Co
Towagmac
I
.100
Mines
General
Toronto
—
Wiltsey-Coghlan Mines
3c
1.40 May
Jan
65c
2.50
Feb
10
Mar
1.30
3.95 May
Jan
Jan
5c
-1
2.04
Jan
77C
8.500
-1
Mines
Cons
Westons
7%
Apr
13.100
-1
Mines:
Western Canada Flour
Jan
52c
/ 3'Ac May
Apr
Mar
May
2.59
Mines..
Gold
River
Jan
2.12 May
69c
63%
-25
Mines—
Feb
1.60
Feb
64C
common-
2.55
6,442
42c
3%
-A—'—A——i-iAA.
3.95
1,850
19
110
3'Ac
27
Canada
Jan
1.85
Mar
38
Apr
Jan
12
8%
3.40
2.19
Jan
105%
-
1.30
Radio
Waite-Amulet
1.80
11'A Mar
11% May
57c
1
—
Paving common-
950
4%c
v
Jan
79c
Apr
3%c
Mines
Petroleum
3.60
13
•
14%.
May
1.08 Feb,
Mar
25
1.960
11%
108
A_—1
Jan
8c
L. 8.75 Feb
10
Jan
16
May
65c
Feb
50c
Jan
90c
Feb
7c
Mar
2'Ac
Jan
3.95
Jan
Mar
13 'A May
24.200
Mar
5c
%c May
34c
50
6c
Feb
26'A Mar
265
Feb
3.50
1,500
Sudbury Basin
:
Jan
3'Ac
Springer Sturgeon
Sullivan
19%
199
May
21'A
Jan
6%c
3%c
49c
142% Mar
Jan
20
55
13%; 13%
—u_—A
Contact
12'Ac May
3.55
Mines—
Mines
■
Apr
May
6'Ac
L.
Dairies
7c
25c
134%
125
nni
31'A Mar
3.65
„.
Sturgeon
May
Feb
28
-1
—.
Mines——
Gold
Malartic
Co
Jan
9.50
8.25 May
30c
-1
—1
——
Gold
Bladen
.
245
Walker-Gooderham
21%
I For fontnpt,c^gcc^pago 2115.
1.15
Jan
2.05
niio
3.55
6%C
—.—1
—ZlGfT
Gold
Apr
15%
Preferred f—
Jan
Apr
13%
1.34
Mining
Apr
1j
...
Jan
83c
115
2.15
2.05
1
—
Mines
Gold
Jan
6
.
5,950
17
Mines—^—_.
Gold
Gold
1.24
5%
—
.iii
C
common
24%
3.35
.
93c
16%
200
25'A
i%c Mar
common.
92C
17
20%
Feb
75
common
93c
20'A
Jan
13,000
•
May
4%
192
Jan
40,670
Frontenac
133
'A May
18,800
21%
90c
9
Preferred
Mar
Feb
4
.
13,600
22%
3.95
Massey-jnarris
52
125
A.
138
125
2%c
McColl
May
10
too
50
138
545
2c
.„
50
133
4'A
50
133
<»
39c 46'Ac
2,126
480
25
133
4'A
-100
——
1.06
175
Jan
Jan
23%
.
Jan
7'Ac
,43c
100
24%
8%
:
Jan
Jan
Jan
3.60
Maralgo Mines
3'Ac
28c
30
12'Ac
1.27
Apr
9
*
83,100
27,137
Jan
30
24
1.03
2c
Preferred
7C
37c
Jan
Mar
1.45
30
30
3.75
-
6c
34c
89c
19,600
*
Fields
1.15 Mar
1.20
8.50
11
1
Gold
Manitoba & Eastern Mines..
1.07
99
93'A May
3,159
,36c
—
1.18
Leaf Gardens preferred..__>_io
Maple Leaf Milling Co common
Malartic
Jan
50
1.25
6'Ac
—
1.06
2.15
1
Mines
Maple
'
3.60
68c
Feb
4%c Mar
Jan
Mines
Wendigo
Mcines, Ltd.
Macassa
86c
Mines
—
23%
__.*
67,600
Jan
1.21
nil
1.00
24%
1.00
3o
93%- 93%
—
———
11
1.15
*
A—
;
...
Apr
May
80
ll'Ac
—-_25
Ltd
Lac Gold Mines Ltd
Groceterias
Apr
2
14%
13c
i._l
—...—
Legare Co preferred
Gold
1.46
1 % May
80
-
Lapa
Leitch
100
1.94
Jan
80c
Feb
14%
Loan ———.100
&
Lang & Sons
Lebel
5.75
3,500
4%
Jan
Ltd
Transcontinental Resources
1.55 May
;
3%C
Jan
Jan
3%
Feb
9.00
900
3'Ac
70<?
53c
45c
1.25
Steep Rqck Iron
May
8.85
9,900
50
7'Ac Jan
40,566
2
4
Apr
May
25'Ac Mar
4,100
64c
Preferred
Jan
7c
1.61
4
Rouyn, Ltd—
Standard
Jan
5c
1.25
67,800
'
-100
South End
Feb
Apr
27
1.55
41c
Jan
of
Feb
1.15
48c
28'% c
.1—1
Bros
Apr
1.61
45c
41c
1.95
^
Jan
Steel
19%
1.23
Jan
5% Mar
Jan
1,37
75c
Stedman
22%
__l
4%
18,500
ll%c
May
5.75
23
^..1
50
1.75
■
Apr
7.055
110
6,500
31c'
5'A
1.66
*
.
5
15,3.40
Mar
28
49,250
5'A
1.67
1
Feb
2.00 May
Jan
35c
97% May
175
27
1.20
92c
Mar
2,83 5
21%
2.00 May
410
31c
Creek
Siscoe
20% Mar
4.75 May
920
"...
100
3
89c
103
108
200
29
._
159
4.75
69c
59c
2.00
2%
common
Preferred
Jan
Jan
15
250
Apr
49c
2.00
1
32C
River
Sheep
8 'A May
20
45c
—
3
Shawkey Gold Mining
#
169% Mar
3,528
6,400
Mining & Exploration
Feb
20,740
51C
—
——.
Mines
Simpsons Ltd class
8
34c
1
Dufault Mines Ltd..—.
Apr
11'Ac
Co
Mining
Silverwoods
8.90
Lake
Feb,
56'A
Jan
Jan
Electrotypers.
Dome
79% Mar-
1
Labrador
2.80
Jan
Apr
Mines
13'A May
Kerr-Addison Gold Mines
Kirkland
Jan
17c
—_
Sherritt-Gordon
13%
75c
...»
Mines..
4%c
1.89
87c
Mining Co
Sigma
11%
7%;
4%C
Hudson Bay
Lake
4'Ac
48'A
lOO'
Jan
Mines of B
Antonio
Class
I%
Gold
May
•<
13
11%
*
_!
1,000
May
Securities—A——
May
18
11%
13%
7%
Mar
Mines————.—1
Gold
991
7 'AC
Shawinigan Water & Power.,
Jan
30'A
26% Mar
16
31c
Jellicoe .Mines—
54%
66c
Gold
Industries
Senator
Jan
'
—
54
7'/aC
303,590
Jan
5,700
Mines—
Anthony
San
Feb
26c
.13,935
St.
3.70 Mar
;
3.25 May
17%
28%
^1
.—
2.15
1.71 May
59 %c
10,400
'Preferred
Sand
Jan
12'A
10% May
Id
29%
——
Mines
2.15
96c
common
East
Russell
:.
Apr
3'Ac
3%c
Mines
Jacola
Jason
1.71
———
Feb
500
2,000
—I;
Co—
Mining
1.46
15c
Royal Bank of Canada—.
Royalite Oil Co——
Feb
Sud
Jack
1.53
Feb
67c
Merger Gold Mines
Rouyn
Jan
9
Feb
4%
5,970
A
14'A
14c
Mines
Roche Long Lac
Apr
3.25
3.25
Can——*
,
13'A May
14
Mar
66c
■,-—
Robertsons
May
5'Ac
4%c May
60c
1
...
class
Jan
18.
200
14
Queenston Gold Mines
6'Ac May
6%c
com.. 100
Petroleum
Utilities
Feb
15%
180
,
-1
Metals
Preston
-.
Jan
7'%
2%c
405
4c
—
International
International
Apr
20
18
9%c Mar
100
10
5
3.30
100
preferred. 100
1
of
28%
27%
18
21'Ac May
>
Jan
10%
10%
Corp
Co
12
Feb
Feb
14c
Tubes..—
Gold
Standard
Nickel
Jan
27%
—
Proprietary Mines.
Prospectors Airways
Jan
5%c Mar
703,800
116
3%c
100
Imperial Oil
—...—,—:
__*
Imperial Tobacco of Canada ordinary_5
Inglis (John) Co...
————6
Inspiration Min & Devel—
I
International
9%
20
11'A
'.27%
Corp A——
Premier
May
16%
100
Mining
170
Refining
Gold
/Pressed
Mar
4c
18
preferred
53% Mar
common
Engravers &
Power
Jan
11 %c 11 %c
Imperial Bank of Canada
A
Jan
66c
Mines
Rouyn Gold
Voting trust
Mar
6'A
3 % May
50c
'
A
International
46%
Ltd
Corp
Powell
5'Ac Feb
::i
international Milling 4%
401
54'A
——
Gold
Photo
Pioneer
60c
16%
International Metals common A
51
May
Jan
5%C
6%c
53c
of Canada.
Mortgage Corp
50%
11
Mines—.
Ltd
Jan
5c
90
15
85c
1—1
paid
51
—
Mines.—
Pickle-Crow
53%
116
————_
Erie
&
20%
class
22%
5'A
Jan
15c
Jan
-5
4%
Oil & Gas.—
Class ;;B
Huron
Perron
7%c Mar
11c
2%C
6%
.100
Mines
Hudson Bay Mining St Smelting
Hunts
17,900
6c
1
Paper
Feb
Apr
common.——
Credit
Quemont
Gold
Howey
Jan
May
4c
Hollinger Consolidated Gold Mines.. —5
*
Home Oil
Homestead
22c
20c 21 %c
Hedley Mascot Gold Mines...—
Dauch
56c
Mar
18%
5
Preferred;
22c
4%c
5c
1
&
Jan
May
83%
.
930
—
—
Malartic
Penmans
/•/.
22'Ac
53%
—1
Hinde
36c
Jan
159,075
*
Porcupine
Peoples
Jan
15c
10c
—1
Highwood-Scarcee Oils
24c
May
74%
—!
Hersey
Apr
8c
16 %c May
20c
6%
■ —
20c
56c
Paymaster Cons Mines Ltd
5.05 May
3%c Feb
34,100
4%c
...1
Mines—
5
2.15
20%
—
Crush
Partanen
12%c Mar
Jan
19 %c 22 %c
1
—1
Mines
Mines
Hasaga
Mar
•2%c
:—-—...
Gold
Harker
95
13% May
4.20
...1
preferred—
May
3,000
79
■
——
Oil
Gold
Pamour
May
Apr
Feb
Jan
30
895
—4—___—:—
Gold
Rock
Hard
91
93
11%
84
94
13%
5c
Page
9 % Mar
Feb
20
Mines
Hamilton Theatres
Mar
59c
20
—
Mining
Pacific Oil &
8'A
3%
Mines——
Swayze
8
Jan
38c
7%c
Pacalta Oils
May
7%c
—
Jan
1.75 May
25%'Mar
57c
94
Alabastine—
&
Lime
Gypsum
Feb
Jan
88
1
Mines Ltd——
Gold
Gunnar
Mines
6
600
50c
Pipe A—I*./—
—
Gold
Orange
24/6
75
90
Apr
Jan
13%
vtc
Wihksne
195,370
19 %c
90
58c
21c
common.
Oils common.,:—...
25
23%
25
Preferred
Grull
Jan
20%
Preferred
O'Brien
Omega
90
Paper com vtc _
———Z-j—u
Frefererd
Ltd
Canada
Feb
13%
>
10%c
Mines.
7%
1.82
20c
,
Star
4
33c
52,100
8%
Feb
22
Gold
Co
Empire Miness
North
Okalta
35
Co——————1
Bousquet
May
Jan
5%c
m
Power
Northern
May
3
'720
Grandora Mines -———a
1
4%c Jan
24%
50
Lakes
27c
79
Oil
Normetal
May
6% May
7%c Mar
3% May
24%
20 %c
Preferred
Mar
Jan
•
&
Norgold Mines
34
Jan
200
23%
Goodyear Tire & Rubber common
Great
'27
205
24
21 %c
Mining————
Gate
Goodfish Mining
15c
47c;
20C
______—
Sewer
Noranda Mines
Jan
26
23% Mar
233
34
160
50c
,
3.90
Apr
3%
3%
1
Goldale Mine
Graham
24 %
3%
—•
—
119,550
,
1.75
"III
Northern
3.05
720
15,000
__1
Mines Ltd
54c
—1
Grocers
Preferred
Nordon
Apr
6%c
—1
Mines--——'
Gold
May
7
.•
—
Nipissing Mines
May
7
6%c
4.85
Golden
4
Feb
6'Ac
9%c
Lake
29c
27C
common—
Negus Mines
Mar
Jan
6
24
Giant Yellowknife Gold
God's
19% May
55
3
33%
Gillies Lake-Porcupine
Glenora
Jan
15C
Gas—
National Steel Car
Jan
22
31
3%'
' 1
Mines.———1
Gold—_——1
-
2.00
Jan
60
24 %
100
*
_
1.66
20
33%
———.100
preferred ———
preferred
7c
29c
*
Corp
National
Jan
3.35
•
5%'A
Apr
67,060
21c
.—*
j——
&
Light Heat
National
May
6%
*
1
common
32c
12'Ac
May
3%
24 y2
Gold Mines—
"V /■■■'/
20,245
8c
19%
3.35
—•
General Steel Wares.,—
v:
1.95
3'A
Power
Gatineau
6,500
Mar
'•••
Jan
9c
23,700 ,i
10
Jan
55c
Jan
1.56
Apr
106
Feh
5% Feb
18% May
Jan
May
25c
—
Porcupine
Moore
Jan
3%
——
Francoeur
28c
1.80
1.88
*
class A
3%
May
8%
Jan
36c
43c
33Ac
61
"
——————-25
Canada
Moneta
11
—-
—
Oils Ltd
Montreal
Apr
6,500
50,559
3'Ac
Monarch Knitting preferred——. .100
Mar
163
Feb
1.34 May
3%c
41c45%C
Corp
10% May
11
8%C
25c
Apr
Model
Apr
7%
157
Mining
Apr
104
270
18%
Pc
25c
Aircraft
Class
5
17%
-*
Ins
20
4%
5
18
1
Mines
155
2,925
105
105
Mercury Mills
24
7
9%
11
9%
9'
Nickel Mines——-*
Famous Players Cdn Corp
Fanny Fanner Candy' Shops—-*.——1
Federal Grain common————*
Federal Kirkland Mining—
—1
Ford Co of
506
10%
105
Falconbridge
Fleet
420
Mines
Mid-Continental Oil
Jan
Jan
21%
24
7%
8,250
—1
Mines
Gold
1.45
-1
Gold
High
55% Mar
1.34
—1
Lake
Graham
1.43
Low
270
I
Mar
86
Jan
9%
1
...
Mines
Red
McWatters
Mines
Range since January 1
56%
55%
May
42
109%
May
155
23
7
-•
Co of Canada—;
Life
125
7
24
—1
——
—
Equitable
7
10%
''
Chemical common—*
Mining Co——
Eng Electric
162
10%
—
Crest
85
30
85
85
McMarmac
Jan
5c
2%c Mar
19,000
100
Dominion Woollens & Worsteds com—*
Preferred
.—..——20
East
18c
Mar
5c
Preferred
Duquesne
12c
40
—-—;
&
Apr
Lake
Gold
McVittie
4,500
85
McLellan
Apr
90c
39
Fabrics common.—
Dominion
37
Feb
3%c
100
-*
Dominion Foundries <fc Steel com.——*
Dominion Steel class B——
2a
Dominion Stores.
_—*
Bank
Dominion
Mar
60c
40
Investment pfd—-100
Dominion
34
4%C
•
100
Dominion Anglo
15
100
—
*
Preferred
341/2
70c. 70c
__
Nickel Mines——.———.-L'
Denison
Distillers Corp—Seagrams common
1.60
Rea
56%
Shares
High
Low
-5
Porcupine Mines
McKenzie
1.60 May
1.15 May
16,500
1.30
Jan
134%
Jan
128
82
Pat
Mclntyre
for Week
of Prices
Sale Price
High
LOW
132
STOCKS—
Range Since January 1
High
130i/2
1.48
«—•*
Petroleum-.:
Davies
I3iy2
-100
Pass Coai—.——
Crow's Nest
Shares
Bales
Range
Last
for Week
Low
Par
Week's
Friday
Range
Sale Price
ENDING MAY 19
SaJf*
Week's
of Prices
Last
.
2113
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
.Volume 159
IGo
"104va"
9 %c
105
21,565
85
"102
""Mar
9'%
106
Jan
Mar*
Bonds—
Uchi Gold Mines 6s
$1,500
30
Feb i
Monday, May 22, 1944
FINANCIAL CHRONICLE
&
COMMERCIAL
THE
2114
LISTED MARKETS
CANADIAN
WEEK ENDING MAT 19
RANGE FOR
Last
Exchange-Curb Section
Toronto Stock
for Week
Range
,
since January 1
High
Low
High
Low
Par
Range
Shares
of Prices
Sale Price
STOCKS—
Sales
Week's
Friday
Canadian Funds
8ales
Week's
Friday
Sale Price
STOCKS—
4
High
12%
2,345
14%
14%
10
80
*
Beath & Son A
Columbia Paper .common
British
80
25
■
Preferred
Co
Brown
4.685
650
>
—
—
common
Preferred
l.io'
foothills
1.80
1.90
6%
33c
International Paper common—
Pend
Bros
15%
10
12%
Feb
18
24%
Jan
29
Mar
■
1.20
600
15%
20
14
Jan
16
15%
-*—
v
17%
25
15 %
Apr
17% May
,
'
.
4c
2,000
3%c Feb
28C
3,500
15o
Jan
25c
25c
135
21%
21%
■'
■
Preferred
Feb
Woods
100
21% May
—^————1
46%
20c
100
May
25c
Mar
1.000
8c
Jan
11c
Feb
Ltd
Apr
3
137% May
137% May
Apr
53
Jan
13% May
15
Feb
16
Jan
46
119
636
15%
Jan
15
15
95
140
140
25
128
Feb
141
May
85
11
Jan
14
Apr
1
>;
14
14
-
70
70%
Jan
71% Mar
52
Feb
200
18%
Mar
6%
69%
62
Jan
100
Apr
Apr
120
Jan
22
*18% Feb
.20
Jan
7% Mar
Jan
6
V
•
21%
21%
17
175
100
■
Jan
50
175
63
63
9*
484
6 %
6
--
65
17
100
*
Feb
Feb
Jan
51
-
17
6%
11
63
69
::
64
17
May
80
1.03d
;
64
; ;
135
9%
9
64
—100
common
Jan
33
2% Mar
25
14
..1.100
preferred
J an
15%
Apr
47%
13%
i"'—W I
*
_
.'
—
Mfg
Zellers
21% May
20c
20c
47%
14
51
Ltd.
%
Apr
32
137% 137%
*
25
common
Mar
13
33
*
Canada
Winnipeg Electric common..
Jan
1.72
Apr
Wilsils
9%c 10%c
21%
—
1.31
250
140
33
Wabasso Cotton
Mar
49c
4c
4c
of
Co.
Preferred
Mar
5c
33
*
Canada
Steel
Feb
103
55
13%
100
*
& Sons common...
Power
(H)
Southern
Feb
1.45
1.15 May
13
100
preferred
Paper
11
Feb
25
2%
13%
...100
—
Lawrence
Simon
Jan
40
1.17
—t
Investment
Temiskaming Mining
Mar
41c
com
Jan
380.
2%
2%
•
Preferred,
26%
common.
Southmount
Jan
17%
.
—
Metals
Oreille Mines &
St,
5
100
100
100
9
100
15
11
Feb
May
711
12%
12
11
50
*
Shawinigan Water & Power
*
Sherwin-Williams of Can common.—*
2% Mar
May
31c
1.95 May
6%
Jan
Mills
Flour
12%
11
100
common
Preferred
37% May
1.80 May
5%
Apr
Corp
preferred
A
Lawrence
St
15%
Osisko Lake Mines——
Price
f
Apr
Apr
Class
26 %
——————^*
1
Selections
■
1.40
3,400
31c
May
28%
2.432
33c
-—100
—
82
900
57/a
6
-
—
Humberstone Shoe
Oil
1.95
37%
*
Bridge Co
Oil & Gas
Dominion
1.60
1.90-
—1
Consolidated
Paper
Corp
*
Dalhousie Oil Co..
*
Disher Steel Construction preferred—*
14% May
80
31%
——
Marconi Co
Canadian
14% May
36
—
12% May
common..,
Power preferred
Lawrence
60
Jan
5%
Paper
Saguenay
High
Low
Low
10 Va
Par
Rolland
1
Range since January
Shares
of Prices
*
*•
Quebec Power
for Week
Last
14
12
Apr
BanksCommerce
.—'
100
Royal
149
138%.-..
-
Jan
May
147% May
135
155
Jan
116
135
Jan
142
Mar
130
81
149
138
100
I
100
131% 131%
100
;
Montreal
..
Montreal Stock Exchange
Canadian Funds
Range
Last
stocks—
90%
10
98
25
96%
Jan
100
49
Mar
48 %
235
20
517
18% May
22%
2214
22 ya
14 y2
15
152'
152
217/a
20
20
20
8
8
1
7
7%:
preferred
5%%. preferred
5%
Mines—-T——
...————
Can
>
;
common
——
Car
Corp
Weaving—
.
Ottawa
Electric Rwys
Ottawa
L
&
Jan
33% Feb
41% Mar
Price
5%
,
Power
common
26%
^
Corp
486
23%
Jan
13%
715
13
Jan
14
5%
602
5%
Bros & Co Ltd
7%
10%
page
2115.
v
10%
Jan
Jan
Feb
6%
Jan
,104
Apr
105%
Apr
40
68
Apr
74
Feb
157
157
May
1.825,
9%
3 V2
4
Jan
305
24 y2 May
Apr
16
8%
100
8%
Jan
5
10
93
95
Apr
Jan
7
6%
Apr
6%
13% May
Jan
110
7 Va Mar
5
35
5
May
6>/4
Mar
11
11
400
11
May
12%
Jan
16 y8
16 Va
16%
535
108 y2 108%
130
106% Mar
26% Mar
108%
13%
29%
28%
29%
13 Va
13%
11%
~7%
1,320
250
21%
21%
21%
25
25
25
30%
Jan
Apr
14%
Jan
12 Va
Feb
Jan
7%
Feb
21
Mar
24
Jan
Jan
25
May
Apr
31
Jan
12%
300
7%
7
:
85
29
29
17%
16%
177/a
22
539
29
108% May
7
1,640
11%
Feb
16 y4
18%, Jan
410
13%
Jan
28
14%
48
Apr
18% Mar
76
1.498
Jan
85%'
85%
85%
21
20%
21
1,529
19%
Apr
22%
Jan
20
20
4
20
Jan
27%
Feb
108
108
10
106
Mar
50
23
Jan
26
Feb
25
,
139
139
135
Jan
140
Apr
13
Jan
16
Feb
11
13%
Jan
14
10%
Feb
11
14%
14%
14%
14%
14%
25
11
11
30
61
„
8
;
2
8
Apr
61
8
Mar
200
23%
23%
139
8
61
May
y4
—
Quebec Tel & Power Corp A
Southern Canada Power 6%'pfd
65
5
169
May
174
Jan
25
60
May
G1
May
2
750
700
8%
8%
8%
7%
7%
19%
20%
75
75
130
130
Feb
8
6%
210
Apr
Jan
16
1
v
75
130
36
•
72
9%
8%
21
Mar
•'
Mines—
..
-
.
.
....
...
__
__
* 7%
-
Central
Cadillac Gold Mines
Mines Ltd
Ltd
Graham-Bousquet
Jan
Jan
May
Malartic
Gold Mines Ltd J.
Lake
Mar
McWatters
130
22
Jan
Apr
24
Jan
34%
34 y4
35%
700
41
41
41
32
20%
Jan
33
40 %
35
Mar
May
43
Jan
15%
Jan
550
13%
Jan
20
20
15
15 y2
Jan
22
54
14
54
190
48
y2
Jan
56%
135
23%
Feb
26 y2 Mar
25
13 %
Jan
14%
50
4%
Feb
13%
14'%
26%
26%
26%
13%
13%
13%
24
24
4%
7
88
~6
21%
4%
24
7%
7
86%
-
6
88
-5Q.?6
'
3
24
Feb
Mar
Apr
Feb
5 % Mar
25%
7
Jan
9
Mar
27
86
Jan
88
Apr
52
Jan
400
6
Mar
19
Jan
93
21
21%
97%
97%
20
Jan
7%
Jan
7
May
25c
Feb
10
9
Jan
10
Jan
3.607
5%
Jan
6%
1.175
1.50
Jan
3 % May
106
22c
19
3
3%
59
21
87
1
29%
Apr
Jan
32
Mar
'
5%
7%
9% Mar
Apr
125
Apr
979
20
Jan
23% Mar
15
20
Feb
27% May
212
17c
Jan
21% Mar
13%
Feb
15
155
19%
Jan-
21% May
2% Mar
"
-
.
1.50 Mar
25
7%
39
1.25
Jan
39
28 %
50
46Va
150
Jan
13
•
75
108
Jan
108
Jan
55
91%
Jan
100
May
35%
Feb
39
Apr
7
300
•
180
i
118
17.449
7% Mar
Feb
4%
Jan
104 %
Jan
5%
May
30c
Mar
19
May
19
May
500
2%
Jan
3
Mar
335
1.75
Jan
25
57%
Feb
100
20
3% Mar
63
20%
Jan
85
Apr
87
21
4
Apr
11,000
700
63c
Mar
4c
6,300
2%c
Jan
8,500
2%c
Jan
6c
7c
1.90
56c
56c
500
5c
4.000
3c
3c
2,514
l%c
19c
19c
1,000
19c
t\
.500
65
■
200
900
7C*<
7c.
5c'
8c
2.300
19,200
Jan
May
17c
May
4%C
Jan
1.55 May
15%
Apr
16% May
Apr
20c
May
May
80c
Jan
1,38
Jan
1.95 Apr
7c
Jan
10c
Feb
Jan
4.15
Apr
May
1.06
Jan
3.40
92c
4c
3%c
9c
Jan
Jan
8c
May.
Mar
69c
May
Apr
76c
Jan
Jan
; .*"44,100
64c
6{4c
300
53c
1.72
4,650
5%c
5%c
500
1.85
1.85
200
1.85 May
3.25
,69c
1.80
Feb
Feb
42c
46c
Jan
May
19c-
1.70
55c
Mar
3%c
May
69c
92c
1.98
Jan
Mar
Jan
375
4.05
92c.
8c
5c
4.000
4.05
.
9c
56c
4.100
800
4.05
Apr
68 %c
Feb
1.74-
8%C
Jans
Jan
17c
8 %c">
9c
3%c
70c
69c
1.69
-
1.75
Apr
3%c Jan
.
38c
20c
20c
■
14,723
17c
16%'
Normetal Mining Corp
1,500
Apr
20c
Jan
15c
75c
1.55
Feb
May
4%
Jan
16%
Mar
21%
30
Jan
,15c
Apr
106% May
17c
2c
1.55.
May
75
80
6c
;
Apr
3% May
May
3
Apr
53
,
May
31
-
1.60 May
32
Apr
3
May
8% Mar
Jan
2.000
-
Jan
35c
May
18
12,000
15 %c'
Jan
135
1.85
.
24%
100
9c
5c.
Jan
Jan
20c
7C
92c'
4
3%
23%
•
2%c
75c
Feb
3 '/a May
3% May
10
50
1.116
4%
3%c.
'•
3ya
2% May
19c
9c
Feb
3% Jan
30
1.100
2%c
Mines
Ltd
O'Brien Gold Mines, Ltd___—
1
Pandora Cadallic Gold Mines Ltd—1
Pato Cons Gold Dredging...
—1
Perron Gold Mines Ltd
Red Crest Gold Mines Ltd——.—*
Shawkey Gold Mining Co
1
Siscoe
Gold Mines Ltd—
.1
Rleden-Malartic Mines Ltd..
—1
Sullivan Cons Mines Ltd—__.___.-__l
Jan
28%
100
..
-V
Jan
24
10
4%
8c
Feb
3%
Jan
Jan
6%
24
v-
Jan ';■•
15c
105
•;
Feb
2%
225
.
4J/4
19C
Ltd—____.1
Gold Mines Ltd
_*
Shore
Apr
49
1,960
May
13
1.62* Jan
1.80
Feb
Apr
169
-170..
May
2
30
106
22c
20c
: :. A 19
3
3%
3%
59
59
•
21
86%
85
Mines.__—
May
Apr
31
Labrador
75
Jan
21%
Feb
5
14
400
1
*
1
Gold Mines—
Consolidated Gold Mines^
—1
Jack Waite Mining Co
——1
Kirkland Gold Rand Ltd.l—
1
Jan
18%
20%
52
14
.1
*
*
L
.1
Canadian Malartic Gold Mines—.—*
Cartier-Malartic Gold Mines Ltd.
1
Jan
126%
21%
Jan
52
—
Francoeur
6
19%
Jan
47%
4%
4%
«.
Ltd
Beaufor Gold Mines Ltd
East
Jan
40
67% Mar
4
8% , 8%
1.60L 1.60
28% . 28%
. - 51
51
3
3
< 75
75
106
106
100
100
-.36%' 37
7%
7%
51
Corp Ltd
Mines
Arno
Jan
7
40
7
28% "
:
,
Mar
7
180
2%
.
__
Aldermac Copper
70c
Jan
May
5
175
55
7
2% Mar
Jan
5% May
50c
.'70
-
6
54
.
__
Hotel
Windsor
Apr
7.696
207/a
20%
1.85
70
50c
5%
J-M
20%
51
Jan
61
5%
1.60
_
Jan
156
1.85
3
100
Southmount Inv w i
*
United Amusement Corp Ltd A_.i
*
United Distillers of Canada Ltd
*
Walkerville Brewery Limited
*
Walker-Gooderham & Worts common.*
$1 cumulative preferred._i
*
Western Canada Flour Mills
—*
17%
145% May
14
100
100
—50
*
preferred
'
Corp of Can 6%^ 1st pfd
6% N C part 2nd pfd
—
Provincial Transport Co
6'/r
Power
Feb
May
52
,
Jan
May
146
...
,
Apr
99
169
50c
*
21
110%
61
•
2
Corporation Ltd.....—...
*
Mount Royal Hotel —
Nova Scotia Lt & Pr Co Ltd com.—*
Apr
8%
37% May
Jan
169
-.if
Vot Tr
85% May
113
,:
.
May
146
/
II,
10
*
:
preferred
$3
108 y2
15
110
16 %
II *
Moore
370
100
110
16%
r__:
.5
Preferred
Apr
185
5
110
31
20
—...
Montreal Refrig & Storage
Jan
11% Mar
1,445
13%
Jan
—
90
109 y4
90
1.95 May
__
.—
Jan
87
93
13%
Jan
9%
10
.
Jan
85
109
Jan
Mar
14%
15%
8%
8%
23% Mar
55
24%
,
6% May
8.
3%
3%
24%
Feb
155
25
150
7%
••
5>
•
___•
«
Mar
10
8
*20
72
11
100
see
9
70
8%
Apr
325
97
—
May
104
8%
50
preferred
7
7%
10%
13%
•
common.
275
400
20%
.
Jan
Mar
Apr
1.55
,
Jan
20
Apr
17%
37%
20%
.
5% Mar
4 Va Mar
316
20
18%
;
109 y4
*
*
.....*
100
of Canada
For footnotes
27
13
:.\
5%
25
Apr
22%
Jan
.
Apr
28% Mar
87
—100
i
42% Mar
29%
Mar
7.500
15
—_—f—_
May
23
1.95
*
pfd
5%
7
20
24 %
55
Ltd..
8%
20
1.65
,
May
131
130
—
Mar
27%
8
97
—
Feb
Jan
3
7
Consolidated Div Sec class A
—
16c
16c
Preferred
2,%:
.10
10
Consolidated Paper Corp Ltd
6/.
6
6Va
David & Frere, Limitee B_—__31/4
2%
3%
Dominion Engineering Works Ltd——*
26
26
Dominion Oilcloth & Linoleum
,•
32
32
Dominnion Woollens & Worsteds com.,* -, i... >
.
5
5
Donnacona Paper Co Ltd—;
• ..-><>.8
7%"
8
Fairchild Aircraft Ltd.
5 .
2%
2%
Federal Grain
1■
v .. . -c, 3%,
3%
Fleet Aircraft Ltd
■
31%
3%
Ford Motor of Canada Ltd..A
f
■ 24%
•, 23%
24 Va
Fraser Companies, Limited
__*
.23 V:; 21%
23
International Utilities class A
■, K 27
27
Class B
1
17c
17c
MacLaren Power & Paper Co
•/
20%
20% 20%
Maple Leaf Milling A pfd—"—
... *
15
15
Massey-Harris Co Ltd 5% pffl
100
__
21% 21V2 "
Melchers Distilleries Ltd
—I*
2»/4
2'/4
Preferred
Anr
12 y4
12%
150
93
PenmanS" Ltd" commonr.—
Power
Jan
590
_*
Aircraft
...
Jan
11%
48
Jan
10 Va
40%
.__*
—
Noranda Mines Ltd
H
27
1,845
15
100
*
25
—-—*
Ogilvie Flour Mills common.
Ontario Steel Products common
Preferred
180
11
125
31%
—.100
Alcohols Ltd common.
Commercial
Mar
29%
'
——.—.——.—100
Cons..—;
*.
Breweries
6 Va
Jan
45
—
Montreal Tramways
Ottawa' Car
5
12
24%
.1
Products
Food
Catelli
137
131
6
Cassidy's Limited
•
8%
11
,
___*
Ltd common
preferred ...—
Canadian. Westinghouse Co
Apr
40
8%
Montreal Lt Ht & Pr
Steel
5
6y4
Jan
5%
77c
Jan
147
29%
3%
—*
(Robert)
—
——'*
Cottons common .—100
Preferred
.300
5%
7%
•
——
McColl-Frontenac Oil
National
5%
141% May
5Va Feb
Jan
——.——100
—
Niagara Wire
Apr
1
72
*
3
25
—*
Ltd John A——
Secord Candy
Ltd preferred
Lindsay (C W) common
National
39%
Jan
36
275
39
—
i
25 y2
Feb
345
...———
Preferred
Jan
28
157
———100
Ltd—1
*
common—,—"
100
common
*
100
Legare
Montreal
80
Jan
104
V
common.—5
Laura
Mitchell
Jan
25
11%
Power
Massey-Harris
27
41%
9%
International Petroleum Co
Preferred
175
245
7%
————£1
& Sons
27%
Jan
10%
—
Canadian Vickers
Jan
Feb
10%
Industrial Acceptance Corp common—*
International Bronze preferred.—-—25
International Nickel of Canada com..*
International Paper common———15
Lang,
10
41%
20
•■-*
-100
Paper common
of the Woods
Apr
38
13
Bay Mining—
Preferred
34%
8
32 %
25
27
'
-*
*
5
Alabastine—
Bridge
Preferred
Jan
445
400
preferred
b'/o
36
Apr
Inv Ltd com.*
Canadian Power & Paper
Mar
Apr
6
21%. 21%.
1,95
371/4
20%
1
Co
Marconi
Canadian
Jan
8% Mar
45
40
—•
—100
Wares common
Imperial Oil Ltd
Imperial Tobacco of
Lake
42%
v
10%
—
Preferred
—
35
Jan
Jan
41
29%
*
—
100
-———10O
Gatineau Power common
Preferred
Jan
5%
11
Feb
11%
English Electric B ——■—
—*
Famous Players Canadian Corp—*
Foundation Co of Canada—————*
International
3iy2
750
Jan
41%
_1__—-—iOO
—"
Preferred '
385
35
s7y4
143
10%
Tactile common—T
Preferred
12%
51/2
Dryden Paper
'Hudson
Apr
5%
100
Smith
9%
.
143
: 5%
& Coal
—.———25
Dominion Stores Ltd ——....
—*
Dominion Tar & Chemical common—*
Howard
180
io y4
37
-35
Hollinger Gold
9
25 y4
25 y4,
Dominion Steel
Hamilton
9% May
Jan
27%
143
*
Dominion Bridge
„
*
"Dominion Coal preferred
25
Dominion Dairies common.———0
Preferred
Jan
108
9% May
44'/a
Preferred
Jan
7%2
"Iva
•27%
Railway..—
Gypsum, Lime &
103% May
7y4
17
33%, 34
8
8%
Distillers Seagrams common..—
General Steel
Jan
615
42
.
Preferred
Jan
350
42%:
v
Locomotive
Dominion
%
6y2
27
8
™
~~
pfd
100
Canada Wire & Cable 6%% pfd.—100
Canadian Dredge & Dock Co Ltd
*
Canadian Industries Ltd class B
*
7% preferred
—
'
100
.Canadian
Ingersoll Rand—
:
f
Jan
.600
131
*. 21%
*
3%
Apr
2.185
34%
Power 1%
Northern
Canada
2%
27/a
,33
8%
1
Sugar Co
Range since January 1
High '
Low
2%
2%
343/4
,
____100
—*——
Dominion
&
Canada
—'
common
Preferred
18% May
9%
7%
7ys
25
Cockshutt Plow
;
*
Consolidated Mining & Smelting
5
Consumers Glass ..—.———-*
5%
Jan
8% Mar
15
310
450
Co
Brown
17 V* Mar
8%
34%
35
B
Class
24
Jan
105 y2
io
—
-
Apr
Feb
9%
1%
*
Canadian Bronze common ——— %
Canadian Car & Foundry common.—•
Old preferred *■.
—*
New Preferred.
——--25
Canadian Celanese common..——*
Preferred 7%.
—100
Canadian Ind Alcohol common——*
Canadian Pacific
Feb
Jan
8
15 y2
.
Power fit Paper common
•
preferred—
100
Beauharnois Power Corp ctfs
*
Belding-Corticelll 7% pfd.., ——100
Brewers & Distillers of Vancouver
5
British American Oil Co Ltd
•
British Columbia Packers Ltd
,,
*
Apr
24%
; pflf
-
6%
16% Mar
8%
105
105%
Foundries new pfd:
Canada Northern Power
-i,-*
Canada Steamship common
——*
5% preferred
———50
Canadian Breweries common
-*
Iron
Canadian
23%
156
t
Abltibi
Feb
Jan
20
25
370
18%
7%
17y4
18%
Jan
21%
230
167/a
16"%
16%
Jan
13%
151 y2 Mar
168
1.491
22%
_
■-
152%
22%
—*
Bulolo ——————3 '■
Canada Cement common
——-•
Preferred
.....—:
100
211/2
75
450
...
22%
,
High
Low
•
v
Shares
of Prices
Sale Price
STOCKS—
Jan
Jan
15
class A—
s
Jan
19 %
——
Preferred
Jan
98 y2
48 %
Bruck Silk Mills
Canada
10%
Jan
47
20
Breweries
Building Products
Jan
88
98
Power & Paper
Bathurst
9
13%
50
90%
——*
_—————-*
class A
*
Bell Telephone Co of Canada—-—100
Brazilian Traction Lt & Pwr
*
Brit Col Power Corp A
*
Asbestos Corp
Associated
Jan
330
V
9Va
9%
for Week
Range
Last
Apr
16
Sales
Week's
Friday
High
Low
16
16
9Va
Canadian Funds
1
Range since January
Shares
High
Low
Agnew-Surpass Shoe common
Algoma Steel com
—
——1*
Aluminium Ltd
*
Aluminum Co of Can pfd—
100
Anglo Canadian Telep preferred.:—-50
for Week
••
of Prices
Par
Montreal Curb Market
Sates
Week's
Friday
Sale Price
Jan
OilsBrown
Oil
-Calgary &
Oil
Corp Ltd——_—
Edmonton Corp Ltd
Co
Ltd
24% Mar
Home
98% May
Royalite Oil Co
Ltd
*
*
•
—*
3.25
3.25
3.25
415
20
20
15
5c
20
Apr
Jan
May
5%c May
1.95 Mar
3.65 Mar
21
Jan
Volume
2115
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
159
OVER-THE-COUNTER MARKETS
Quotations for Friday May 19
For
Investing Companies
Far
Aeronautical Securities
1
Bid
x3.57
Holding Corp——10
American Business Shares
1
AAmerex
Assoc
A Common
A
Industry
Inv
of
Tr
3.77
Series
Series
B-3
15.09
7
,
•,
3%
A
:
4'A
—
.——100
Cumulative Trust Shares
•
Delaware Fund—.
1—1
Knickerbocker
Loomis
Dividend Shares
Investors
10.06
Mass
Investors
2d
Mutual
Fund
Invest
(Md)
'
Low
25c
1.26
-1
7.21
7.79
X2.94
6.89
New
23.86
36 */4
32.11
37'A
X18.50
1.78
19.92
1.96
1.33
,
1
10.17
X7.09
—
—
shares
Northern
31%
Pacific
60%
50%
Pacific Indemnity Co
26
10
Corp„—8
45
48
St Paul Flre & Marine new-12*4
63%
66%
17y4
20y4
Seaboard Surety
10
46*/4
42%
45
Security New
10
Springfield Fire & Marine—25
43¥4
3 4 74 '
116%
5'
:
.
&
28¥a
IT S
Fidelity & Guaranty Co„2
36*4
10
U S
Fire
46
U
Guarantee
14.88
25%
97%
Hartford Steamboiler Inspect—lO
43 y4
Home
40]/4
27%
3.24
X90.36
Amer Shares—
_2Va
X9.64
Shares
—1
9.19
6.48
7.13
Investing
5.83
6.42
5.48
U.
—
5.14
6.02
shares
ASeries
4.26
4.33
V
4.45
Trusteed Industry
4.04
L—
4,04
ASeries'
4.88
series
Fund
1
Inc
10c
Corp
Foundation Fund
Incorporated Investors
5
Independence Trust Shares
•
Institutional Securities Ltd— r
shares
20.94
2.21
of America—10
6.30
6.89
19.60
106%
107%
3s—_1974
1015/a
102
1973
———
2¥4s
-1974
&
AFlrst
Boston
1
Corp
2%
2%
10
Co
26%
28 Va
100
;
15,
1944
15.
1944
South
99 ¥4
102%;
100*4
Carolina Elec
100%
1972
York
103 ¥4
104%
3¥4s——1968
106%
107
3y8s„—1973
103%
103 %
104%
105%
Lt
&
Util
Texas
Corp.
108
Power 3'4s—1968
Colo
Power
West
110%
& Gas—-
——
Southern
Utah
109%
108%
Diego Gas & El 3¥aS__1970
3%s
103•
108%
1077/b
4*/4s——
1958
100.12
0.41%
1
Grace
23%
1945—
tMar 15.
National——-——100
Warrants. " ——'
404
15,
■ ■
187%
12%
1946
tSept.
100.1
100.14
t%s Aug. 1, 1944
——
t74s Sept. 1, 1944—
b0.45
100.12
b0.59
0.56%
100.11
100.12
17/8s
b0.65
0.63%
b0.71
0.69%
b0.76
0.74 %
1944———
t%S Dec. 1, 1944———
99.27
1,
Oct.
¥4%
99.26
100.3
100.4
$%s Feb.
100.26
100.27
I0.90s Mar.
100.21
100.22
—1%%
1947——
15,
1.
t7/as Apr.
■
1945
1,
b0.78
1945
0.76 %
b0.79
1, 1945—
0.77%
b0.79
1, 1945
l¥aS May
.
Ask
100
1
%
1%%
-
—
1946
15.
tDec
%
¥4%
%%
1%%
1945
tDec. 15, 1945
Ask
Bid
Par
Ask
0.77%
,
95%.
100%
Irving Trust
99%
103 %
Kings County Trust
13.55
38%
40%
100
319%
327%
10
14%
15¥4
100 1,505
1,555
Lawyers Trust———25 ;
37%
40%
Trust--—2-10
'49%
51%.
Manufactures
20
47 3/4
50 V4
& Trust—10
19%
21
(J P) & Co Inc
100
National City Bank——12%
Bankers Trust
10
—.
Brooklyn Trust
—100
-
Central Hanover Bank & Trust 20
Chase National Bank—
52%
50%
Guaranty Trust
Co
-
Continental Bank
Corn
Exchange Bank & Trust_20
Empire Trust —
50
Bank—
48 %
73%
100 1,570
100
170
Trust
—
—
Trust Co com!120
49 Va
51%
218
35%
5314
228
Morgan
New
51
77%
1,610
_25
York Trust
Public Nat'l Bank & Trust—17%
Title
Guarantee & Trust
12
95
375/a
40%
Federal Home
7%
37Va
Ask
Bid
91
Commodity Credit Corp—
tl Va %
i.
Feb 15,1945
United States Trust-——*—100 1,440
180
Obligations Of Governmental Agencies
51%
preferred————20
Conv
Commercial National Bank &
Fulton
tMar
City Banks & Trust Cos,
392
1973
—
Pow & Lt—
Quotations For U. S. Treasury Rotes
Mar 15,
Bank of New York
San
101 %
105%
(New Hampshire)
series A
41^2
100 ¥4
100%
105*4
Figures after decimal point represent one or more 32ds of a point
Maturity-—
Int. Rate
Bid
Int. Rate
Bid
Ask
100
ISept. 15. 1948———1 *4 %
100.11
¥4%
Certificates of Indebtedness—
100.9
100.7
rSept. 15, 1944
22%
1953
—
(Indiana)—
1972
3 %s
105*4
Ask
102
1973
-
Public Service
(Minn)—
——
Sep
Bank of the Manhattan Co.—10
:
101
Corporations
ABlair
26.03
Bid
.
Investment Banking
Jun
Par
75
32¥a
Pipe Line—
series E__
Puget Sound
100
99%
105
debs
3*/4s
110 ¥4
& Lt
274s—1961
Gas
Public Service
105*4
Northern States Power
17.96
107*4
Indiana Public Service
Northern
3y8s
2%s
105%
101 ¥s
109 ¥t
3%s_————1959
Co
105 VB*
101 3/B
106%
Pow
Natural
Okla
Panhandle Eastern
104 ¥4
Maturity—
New York
48¥4
70
29%
Bid
Ask
104
—1974
Michigan Consol Gas 3*/8s„1969
National Container 5s
—1959
16.30
16.34
1
Wellington Fund
95c
1.14
23.95
8.82
1.70
10.23
xl.03
.
Mengel
22.90
17.93
V
—
A
Power
Louisiana
25.84
20.95
Stock Fund—
U S El Lt & Pwr Shares
22.52"
2:50
86c
shares
Fund B
Union Preferred
1.55
Iowa
81c
8.06
Stock
Union
37c
1.42
9.34
Group shares
Insurance Group
25c
v
103%
3*4s_1974
1979
& Light 3J/4s—1973
33/8S
Power
4*/aS
25.OS
A—
C
3%s„—1973
Florida Power & Light
73c
Shares—25c
& Lt
Pow
Florida
'
Common
3s
6.61
f -.Series 'B——-L;——,
Series
& El—
--——1973
Central
5.96
1
1963
Light 3S-;
Gas
'
2.27
B-—_1.-;
Bond
Union
4.45
4.43
shares—
shares—
38*/a
;
Blackstone Valley Gas
2.15
—A
3.86
1 3.93
Bid
Atlanta
2.35
Oil Shares—
ASeries A—
—
shares——
*■;
--i—
Stand
Trustee
6.62
-10
64%
492
Recent Bond Issues
43.82
..'V' ASeries ' C————-A^.——I
Equipment shares——
shares—
29
—4
—2.50
Fire
122
14.96
40.78
Street Investment Corp
Super Corp of Amer AA——_1
Trustee Stand Invest Shs—
6.59
4.67
5
S
Westchester
36%
10.51
X14.05
.
6.03
5.99
—
~6.57
6.00
State
Price Shares
Fire—
4.08
8.36
Mining shares
—
61%
477
24
92.18
—
Merchandise shares————
Hanover
10
—100
Travelers"-
101¥4
7.09
Standard Accident—
27%
10
6.50
•
Haven—;
x26¥a
13.84
1
Fire
6
100
Republic Invest Fund—
(Texas)-—
(Paul)
Revere
(NY)
9!/2
21'.a
78
American
Scudder, Stevens & Clark
Fund, Inc———
1
Republic
;
Corp
8¥a
Great
Industrial Machinery shares—
bond shares
;
13%
.
54c
Income
National
10
Marine-.
preferred
Sovereign Investors—.———1rSpencer Trask Fund
_•
Fir«t
87%
---.2*
—10
12
83%
49c
Selected
Trust
32%
Reinsurance
10c
1
Selected
'Chemical Bank
Providence-Washington —10
195/8
.< 74
2nd
Hartford
;
1 6%
34T4
6%
28*/4
64
Globe &. Republic
3.56
82*/4
1 474
60
Quarterly Inc Shares—
6.31
78*/4
—5
5
Globe
2.30
7.14
49*4
^——10
—
Preferred Accident
Rutgers Fire Ins. com.
2.72
X2.63
1
107*4
47
10
24
Glens Falls Fire—
1
.—.
93*/2
102%;
25
146
10
.'
—1
.—
Series 1958—
x89
—12.50
—;
Fire
140
Newark
Fire
General Reinsurance
X2.08
5*/a
5
Franklin
&
13*%
—————5
2374
5%
__5
Firemen's
Fire
12 y8
22Va
20
Fireman's Fd of SaA Fran
6.15
Gibraltar
46V2
44
—_2.50
454
26*/4
22*4
7.43
39%
27
30*4
28
y
—10
Fire——
River
Phoenix
25
7]/4
181
-10
5.90
of
47%
10
—_—
Fire Assn of Phila
shares
Series 1956-
7.60
Investment Co
40%
10
X6.75
''Series 1953--————'
9.63
5.31
Bank
38M>
29
56%
5
—
X5.35
6.91
Aviation Group
Northeastern
10.95
4.02
Income
44%
Federal
8.76
Equipment
AHuron Holding
42 y4
X5.58
v
5.73
Administered shares—
Utility
Connecticut General Life—10
X9.96
6.49
shares
Food shares
Tobacco
North
Fidelity & Deposit Of Md
6.03
Steel
19»%
6.41
7.75
Petroleum
17%
New York-
8.64
6.28
RR
—10
City of
X7.85
Trust
2
10
York
565
X540
171
Casualty
New Brunswick
85'%'.'
80%
Amsterdam
59
614
20
Hampshire Fire-,.
X5.82
Amer
New
7
6
25%
56
_10
—2
-
New
Employees Group—
Employers Reinsurance
North
National Liberty
National Union Fire„
New
Continental Casualty
North Amer Bond Trust ctfs—-
National Fire
^
6%
4¥b
23V*
4
(Detroit)—10
21%
8.69
-
13¥4
58%
Y_
Ins
x20'/8
8.49
Railroad
N
Casualty
5%
7¥4
4>/a
Fire
Fire
National
5
100
10.48
Railroad equipment—
Mfrs
&
Monarch
51%
12%
—25
;
Fire
X9.53
-
Merch
—
56%
2 y2
X7.72
stock
Merchant Fire Assur
7.80
X7.90
equipment
.
Plymouth Fund Inc
Putnam (Geo) Fund
shares
Railroad
11.01
9.25
stock
5.48
Low
37%
Camden
7.05
f
34¥4
Bankers & Shippers
Boston %
5.71
General
10
Automobile
6.89
Chemical shares
Fully
10
Machinery
5.78
47 %
10
Metals
35.58
X33.09
5.37
Corp
44 y4
25
9.14
Insurance
'tv-
6
5
;
Y
Casualty
Massachusetts Bonding
127/«
16y8
12¥a
16¥«
Surety—^
X8.31
Electrical
4.30
24,38
5.48
67
Reserve-
X6.26
Building supply
5-91
—
8
12%
7
63J/2
Baltimore American
Cheynical
5.30
9.70
3.70
22.25
4.74
6%
1
48¥4'
xlO.02
Bank
37%
5
Maryland
Re-Insurance
Aviation
6.15
1
20
Knicloerbocker
20¥4
ll5/s
14%
11%
15y8
Equltable-^
Agriculture
—
Jersey Insurance of N
73
22¥4
-10
American
13.28
York Stocks Inc—
19.48
Fund
40%
52%
American
7.62
12.32
—1
England
15
38
American
7.54
6.85
priced bond series-j—
Preferred stock series
84¥4
69%
American Fidelity & Casualty_5
American of Newark—
2Va
5.08
13
82y4
_10
50%
_25-
American Casualty
7.75
k»k
10
Fire
36%
'
Alliance
American
3.32
7.05
—
series
Bid
Par
Insur Co of North America
Homestead
10
American
4.59
series—
Income
Companies
Ask
138%
130%
—10
Life
Agricultural
1.39
priced stock common-
Bond
-10
Aetna
Aetna
voting shares
Building shares
Electrical
11.61
Aetna Casual & Surety
National Security Series-
Group Securities—
Aviation
XlO.62
Bit.
Par
3.60
Series 1955
,
11.26
.10
Inc
National Investors Corp__.
22.77.
13.67
General Investors Trust
Automobile
10.47
series B shares.
(Colo)
—
1.21
Equitable Invest Corp (Mass)-8
Equity Corp $3 conv pfd
1
Fidelity Fund Inc
•
Financial Industrial Fund, IncFirst Mutual Trust Fund
8
Fixed Trust Shares A
10
Foundation Trust Shares A—1.
Fundamental Invest Ino
2
Fundamental Trust Shares A—2
Agricultural
22.83
-1
Fund
Insurance
4.91
21.23
vNatlon-WIde Securities-—
21.20
12.73
Fund
General"Capital
4.50
-1"
Trust—
Automobile
Balanced
Stock
39.60
9.15
■
3.65
5.40
HowardFund
&
Eaton
38.81
10c
A Maryland Fund Inc—, 10 c
1
1
D
_10
Bell Teletype NY 1-953
93.30
Common^i_-Li—
Mass
York 5, N. Y.
1
DIgby 4-4950
6.29
91.43
Tel:
Manhattan -Bond-'Fund Inc—
■";
1
2.50
25c
—
4.67
5.74
Sayles Sec Fund-
40 Exchange Place, New
13.34
Fundi-——
Loomis Sayles Mut Fund—
Diversified Trustee Shares—
C
--Liii..
Members New York Curb Exchange
;;
y
10.23
4.20
S-4—_L_
New
112
x4.71
18.02
12.11
S-3-i._
Series
32
30
preferred
A7%
S-2—
Series
-
25.87
X9.28
Series
5%>
Low
& Forster Insurance—
B shares
10
ACommon
i———
21.49
23.54
—
18.89
19.54
Series S+%.
—
Crura
17.22
K-2-.
Shaskan & Co.
Members New York Stock Exchange
11.19
10.19
K-l——
Series
.,
,
5
Inc——5
Bullock Fund Ltd————1
Canadian Inv Fund Ltd—
1 1x3.05 ;,
3.65
Century Shares Trust
•
27.64
29.72
Chemical Fund—
1
9.42
10.19
Christiana Securities com-—100 2,370
2,470
Preferred
-—100
140
145 W
Commonwealth Invest
1
4.71
5.12
Consol Investment Trust—
1
37%
39%
Corporate Trust Shares
1 1 2.40
__
Series AA—.
1
2.22
Accumulative series—
1
2.22
Series AA mod—
1
2.69
Series ACC mod——.—.——1
2.69
:
ACrum & Forster common—10
26% ' 28%
A8% preferred—.<£.
—100
118%
Fund Inc
Boston
22.44
B-4—
Series
,
,
4%
Broad Street Invest Co
Scries
,
3.73 —
100.77
104.97
16.94
18.22
x28.18 ;: 30.46
14.80
16.22
America-.
31.84
B-2^_—_,
15.32
.
S
—10
preferred
Shares
6%
Basic
Bond
29.01
X20.46
B-l—„_i———
X14.03
•/..
1
—
Series
Real Estate Bonds
on
13.07
29.62
Keystone Custodian Funds—
3.44
Axe-Houghton Fund Inc——.—1
Bankers Nat Investing—
-v./
12.78
28.27
Investors Fund C—_——
>26%
xl4.1?
6%
Investing_10c
Stand Oil Shares
2
Foreign
American
2514
/
-1
7;23
3.90
6,65
'/
1%
Affiliated Fund Inc.—j
Quotations
Ask
Bid
Par
Ask
8
0.85s
June
Federal Land
100.7
3s
100.9
8s
—
b0.90
0.75%
Jan,
1,
May
1,
-
1956-1946
8s
Loan Bank—
15, 1944
1956-1946..
1,485
Bid
Ask
Bank Bonds—
1955-1945—
Other
—
-
102%
102
104&
105^
104,^
105&
104 Vb
106%
132
104 ¥8
106%
133 */a
Issue1
Federal Land Bank Bonds—
4S
1946-1944
4s
—
.—
.'S -'
1--(When, as and if issued) ;
t:
_
Bonds—
Bid
v
Ask
Stocks
.
Akron
88%
90%
—1988
91%
93%
4%S-series B—
Bid
&
Income
Rio
4%s
—2019
Canton & Youngstown-—
——
32
34
—.—_——
78
5% preferred
Gen
Inc
65%
4y2s
Denver
*.—2018
—1993
Minn St Paul & Saulte Ste M—
4%s——19f71
mtge 4s__
—1991
income
Western
103%
58%,
60%
81
65
4%s_^„
1,
1944
4iy2
42%
June
0.28%
July 20, 1944
July 27, 1944—
Aug. 3. 1944
b0.37
0.32%
—b0.37
0.32%
Aug.
10
—^
b0.37
0.32%
Aug.
17
Ask
0.33 %
0.33 %
b0.37
July 13, 1944—
0.30%
0.32%*
1944.
29,
Rfrt
b0.37
b0.37
—
0.34%
b0.37
0.34%
b0.375
0.35%
b0.375
0.35%
bO.375
0.35%
18
40
—
1944.
22,
purchase
1944
b0.37
b0.37
1944—
8,
June
at
Ask
b0.37
May 25, 1944—
June
17%
42
16%
102%
104% '
-
15, 1944-
•No
Minn St Paul & Sault Ste M—
——-
Optional v t c.
Pacific
Preferred —
Western
2014
f</r discount
are
July 6.
June
17
com
Preferred
.
Pacific—" '
mtge
Grande
99%'
63
Rio
1947
—1961
1944
1944.—
83
'
97% ^
&
—.—1948
S Conversion 3s
Panama Canal 3s—
Treasury bills—
80
——
Chicago Rock Island & Pacific—
Common
—
——*
5% preferred ———100
Grande—
1st 3-4s income—.
1st
64
U
Rates quoted
Ask
June
income
Conv
Denver
—1994.101%
U S Conversion 3s
4
102 ¥4
United States Treasury Bills
"
—
Common
Chicago Rock Island & Pacific—
1st 4s———
A
100
Bid
*
Canton & Youngstown—
4S series A—
1988
Akron
100
100%
102%
-
1955-1945
Reorganization Rails
^
100¥a
1964-1944
3%s
—
common
—
1%
30%
65%
par
March
12%
2
on
31%
x
66%
tions
common
1944,
to
a Odd lot sales,
b Yield price,
c Stockholders of' McQuay-Norris Mfg. Co.
approved an amendment changing the 150,000 no par shares of authorized
450,000
shares
of
$10
par
common
stock,
d Deferred
delivery,
f Flat price,
for year,
AQuoit-
r Canadian market,
s Cash sale—not included in range
Ex-rights,
tin default.
JThese bonds are subject to all Federal taxes.
furnished by sponsor or issuer.
k Removed
to
Ex-dividend,
not
value,
28,
ftoek
Stock Exchange,
y
2116
THE COMMERCIAL & FINANCIAL CHRONICLE
Monday, May 22, 1944
Week Ended
THE COURSE OF BANK CLEARINGS
$
stands
$9,172,480,259, against $9,377,288,055 for the same week in 1943. At this
there is a decrease for the week ended Friday of %.7%.
Our comparative
at
center
West
New
■
■'
S1
.Chicago —
Philadelphia
Richmond
—
*
Francisco.
Pittsburgh
—
—
543,000,000
+
Total
+
+
10.5
186,739,000
+
6.4
187,122,075
+ 17.9
171,021,066
125,615,475
120,552,288
days___™
--/*'-:'$7,643,733,5'49
+
$6,361,194,929
all cities for week—__
Total
■
,
+
—
1,303,506,775
+
$7,664,701,704
1,712,586,351
$9,172,480,259
cities, one day
All
•"•••
861.644
4,450,000
48,582,164
2,185,547
62,978,015
+ ,1.0
2,124,752
2.2
2.0
1,987,977
118,388,119
42,269,124
109,917,193
+
—
0.2
226,764,082
205,211,839
—
140,367,317
.41,898,647
253,626,597
254,087,982
$9,377,288,055
—
Macon—
3.2
—
39,215,291
39,770,857
32,610,019
4.1
4,283,213
2,717,082
148,990
55*769,014
238,097
173,753
77,902,043
75,969,346
—
Louislana-r-New Orleans
2,342,069
'"2.000,000
—
—
—
;
+ 37.0
:
+
2.5
.
V
23,510,000
,
140,344
59,558,307
4.2
2.0
(10 cities) «_r—r.-r—
8.3
0.3
372,788,505
330,290,244 ,£ +1.2.0
\
•
282,918,673.
...
240,516,458
-,
'AM
U.
Seventh Federal Reserve District—Chicago-
Michigan—Ann Arbor
2.2
900,362
....
,
Lansing
Indiana—Fort Wayne——
In the elaborate detailed statement, however, which we present further below,
able to. give the final and complete results for the week previousr—the week
ended May 13. For that week there was a decrease of 7,1%, the aggregate of clearings
i6r the whole >' country having amounted to $9,016,237,020, against $9,705,816,255 in
2,452,668
3.2
2,996,129
4.8
32,361,000
3,122,371
3,433,608
30,114,000
3,598,880
7,907,527
10,253,909
—22.9
+ 11.4
28,944*758
+
4.6
1,577,575
—
7.4
14,593,197
+.
—
10.7
+
14,685,243
15,758,190
7.506,870
653,745
7,043,066
578.695
+ 13.0
470,258,903
+- 0.1
7,009,583
:
466,356,262
Illinois—Bloomington——
Decatur———
26,759,738
1,525,499
10,545,448
::
4,894,947*
;■
4,336,632
479,811
412,473,292
+ 11.1
1.425,022
1,345,498
15.3
4,743,184
4,969,370:5
—29.7
5,386,890
6,213,556
.
Rockford
6.6
+
1,472.654
1,635.434
Peoria——
29,595,000
3,019,297
560,347
469,658,182
—
j.
.
*
1,759,440'
1,841,078
Chicago—.
2,834,709
7,829,742
30,840,544
Terre Haute—
W isconsin—Mil waukee
clearings at this center having recorded a decrease of 13.0%. We group the cities
According to the Federal Reserve Districts in which they are located and from this
it appears that in the New York District (including this city) the totals record a
485,548
4,513,029
3,544,212
—
Iowa—Cedar Rapids
Des Moines__
gain of 0.2%, the bank
;
34,353,033
Bend
Sioux City
687,962
2,910,533
+ 15.3
*—20.5
4,462.250
+ 29.8
5,029,871
4,925,424
28.682,000
3,982,117
Indianapolis
South
693,645
5.801,220
3,917,258
—
Grand Rapids
!j{;
was a
+ 20.3
42,185,961
4,973,292
we are
Outside of this city there
32,281,278
4,771,254
Mississippi—Vicksburg
ends Saturday and the Saturday figures are not available at time of going to press.
Accordingly, in the above the last day of the week in all cases has to be estimated.
week in 1943.
27.519,986
88,600,000
1,729,505
1,561,884
41,197,900
—
Mobile-—
Complete and exact details for the week covered by the foregoing will appear
issue of next week. We cannot furnish them today, in as much as the week
same
6,349,978
31,979,220
104,100,000
—
1,947,702
Alabama—Birmingham—50,744,941
9.1
6,453,385
+ 15.2
+15.1
4.3
2,313,205
2,573,535. —24.3
+17-4.
2,214,788
—
+32,9
7,983,031
32,020,221
120,900,000
48,364,224
—10.7
—
10,608,465
—,
—36,896,991
—
Florida—Jackspnville—
our
the
1,038,426
5,655,000
57.425,436
: 42,743,032
(6 cities)
■
1,411,782,075
1,528,746,710
Total all titles, five
in!
1,3
63,630758
Augusta———————
4.5
Total
•
+
+46.1
135,905,716
—
3.5
151,073,292
146,900,000
$6,231,951,474
—
cities,
Ten
JtV-
1,224,251
5,495,000
Georgia—Atlanta—139,100,000
2.6
—
292,123,931
five days_
Other cities, five days__12__i_i-
Baltimore——^--————
.17;
Z
Maryland—Baltimore—
District of Columbia—Washington—.
Nashville
4.9
—
157,819,802
162,300,000
198,686,000
220,564,352
186,660,997
Cleveland.
.iw
1,239,738
*
South Carolina—Charleston—• 2,077,353
4.7
302,283,326
_________ ____
St.. Louis
1
;
$
$
8,030,000
_.
———
Tennessee—KnoxvUle.——
$4,131,299,705
431,363,572
410,143,230
529,000,000
'
Sari
1943
$3,938,878,292
—•——-
City
Kansas
1:1.
1941
194?
Sixth Federal Reserve District—Atlanta*1944
20—
York—,.'————-*i—-—
Boston
b/.
Virginia—Huntington—*
Virginia—Norfolk
Clearings—Returns by Telegraph
Week Ending May
'•
May 13
or
for the week follows:
summary
t 7
Inc.
Dee.%
$
Fifth Federal Reserve District—Richmond
Bank
clearings this week will show a decrease compared with a year ^go,.. Pre¬
liminary figures compiled by us, based upon telegraphic advices from the chief cities
of the country, indicate that for the week ended Saturday; May 20, clearings for all
cities of the United States from which it is possible to obtain weekly clearings Will
b& 2.2% below those for the corresponding week last year.
Our preliminary total
1943
1944
2,119,472
+
1,986,552
3,122,423
1,1825,049
2,076,485
—12.1
.1,781,387.
595,300,431
596,336,627
0.2
581,366,138
515,960,267
2,193,545
'
8pringfield——
Total
;
(17 cities)—
—
•
1,628.899
falling off of 12.1%, in the Boston Reserve District of 4.4% and in the Philadelphia
Reserve District of 1.1%.
In the Cleveland Reserve District the totals are smaller
Eighth Federal Reserve DistrIct**St. Louis-
by 0.9%, and in the Richmond Reserve District by 0.2%, but in the Atlanta Reserve
In the Chicago Reserve District the totals
sliow a loss of 0.2%, in the St. Louis Reserve District of 0.1% and in the Minneapolis
Reserve District of 0.8%. The Kansas City Reserve District registers a decrease of
5*2%, but the Dallas Reserve District records an increase of 0.6% and the San Fran¬
District the totals are larger by 12.9 %.
Missouri—St. Louis
Total
cisco Reserve District of 0.3%.
J
177,800,000
—
171,000,000
4.0
142.000,000
122,100,000
62,516,258
65,276,618
4.2
57,171,428
36,813,985
Kentucky—Louisville
Tennessee—Memphis—
Illinois—Quincy
40.818,513
9.8
33,349,559
4.8
732,000
52,084,233
29,637,038
652,000
0.1
233,252,987
205,473,271
(4 cities).
278,198,131
278,180,243
—
In the following we furnish a summary by Federal Reserve Districts:
:
Ninth Federal Reserve District—Minneapolis-
SUMMARY OF BANK CLEARINGS
Federal Reserve Districts
1st Boston
_
12
"
——
10
"
—.
Philadelphia
7
...M
"
"
—
4th Cleveland
6th Richmond——
6th Atlanta
______—
Louis—
12th San
*•
.
City
__
———
10
Francisco
253,626,597
584,959,142
3,414,570,482
519,171,239
517,536,545
226,764,082
443,190.686
205,211,839;
+ 12.9
596,336,627
282,918,673
240,516,458
Total
0.2
581,366,138
233,252,987
150,763,650
add
now
our
week ended May
—
271,859,767
—
5.2
201,691,605
125,024,927
473,612,608
;.+■
0.6
+
0.3
101,681,251
369,886,788
9,705,816,255
7.1
7,553,998,717
4,316,902,918
4,307,033,518
0.2
3,771,115,238
174,057,904
91,393,038
309,272,974
6,580,344,426
3,314,055,888
detailed statement showing the figures for each city for the
13, for four years:
,
1944
Clearings at—
nded May 13
Inc. or
1943
$
:'J >/•: + Z/Z/,/
Dec. %
v
89,581,582
5.5
7.1
37,566,907
2,712,992
*32.936,729
2,821,612
2,947,183
+
1,314,306
1,335,450
—
Montana—Billings——
1,255,430
1,105,683
+ 13.5
4,093,687
3,995,187
+
2.5
179,849,834
181,214,076
—
0.8
—
(7 cities).
-
—
.
1.6
1,175,260
933,102'
.
922,923
1,035,720
3,506,100,.
3,389,727
.
150,763,650
134,088,325
Tenth Federal Reserve District—Kansas
City-
Nebraska—Fremont
269,778
4,780,871
Llncoln__
$'
0.5
—
'
181,107
+ 11.2
3,297.208
64,905,863
8.7
+
5.2
2.093,844
5,492. 513
+ 14.3
4,360,866
170,306,816
180.327, 734
4.0
140,990,017
6,074,208
5,507, 608
+ 10.3
4.076,025
1,162,584
1,012, 532
+ 14.8
1,436,822
897,368
928,,163
3.3
747,048
257,757,363
Missouri—Kansas City—
St. Joseph.
Colorado—Colorado Springs-
271,859,767
5.2
201,691,605
1
—
—
1941
$
,
3,392,583;
44,368,574
2,756, 060
6,286,510
—
—
2,899,608
Omaha—
100,592
222,409
140,094
—11.6
4,299, 204
71*056, 651
Kansas—Topeka
Pueblo
1942
174, 654
304, 648
173.757
Hastings———..
Wichita
We
101,110,352
+
134,088,325
181,214,076
9,016,237,020
Outside New York City——
2.6
205,473,271
0.8
Dakota—Fargo
|t3,389,867
3.769,116
-
—
South Dakota—Aberdeen
515,960,267
0.1
—r-
278,198,131
—
North
—18.4
42,226,069
3,157,400
Helena—J—
0.2
—
179,849,834
111 cities
Total
375,470,789
3,927,707,067
r~: 0.9
330,290,244
257,757,363
125,759,772
327,437,943
4,286,545
125,317,959
44,531,067
1.1
—
278,180,243
474,925,753
•
4.4
254,087,982
-
$
$
3,498,484
121,999,460
Minneapolis
—12.1
394,165,799
577,054,069
595,300,431
Minnesota—Duluth
St. Paul_
571,658,045
♦'
"
6
—
——_
Dec. %
5,550,921,496
655,058,529
372,788,505
1941
1942
Inc. or
;/
1943
'/:■'/z'1 5
4.881,292,347
648,174,666
"
"
"
"
4
7
10
—
9th Minneapolis
10th Kansas
11th Dallas
6
10
17
7th Chicago
8th St.'
.
376,923,464
12 cities
New
3d
.
/
.___
York
2d
1944
•
'.j Week Ending May 13—
'.
1,103,000y
1,050,000
37,408,208
2,297,163
3,883,342
121,668,421-
3,551,681'
695*088'
IV
8l8';4l7
•/
Total
\\z
(10 cities)
;
—
174,057,904-
First Federal Reserve Dlstriet—■Boston-
Malne—Bangor
951,028
_—•
930,226
531,169
1,343,327
1,206,267
New Bedford-
4,483,842
15.932,700
643,078
15,638,700
—
....—.
376,923,464
394,165,799
New Haven——-—
-
Rhode Islands—Providence™——.*.
Hampshire—Manchester
Total
(12 cities)—
2,383,537
321,630,230
277,859,290
9.9
901,827
1,314,809
—16.7
5,700,010
Worcester—
4,134,622
5.6
600,111
496,820
+
3,029,305
15,211,881
5,930,892
+ 11.6
—
4,129,928
2,986,919
15,230,504
Springfield—.
Connecticut—Hartford———
669,990
677,733
+ 11.4
LoweII__—_,
Mew
+ 46.6
3,769,362
342,816,381
1,022,799
■
..
Fall River—,
•'
648,630
4,207,851
323,727,817
442,707
Portland™——
Massachusetts—Boston—
+
15,550.504
4.0
6,186,860
15,996,058
5,415,592
+*. 1.9
17,187,400
16.1
521,005
375,470,789
+
0.2
2,219,033
80,425,000
74,165,072
12,954,986
+
0.9
10,580,281
8,407.542
2,563,000
2,753,000
6.9
+
2,072,59?
1,465,731
1,503,414
2.5
2,099,000
1,126,808
5,479,069
5,074,276
+
8.0
5,231,129
3,398,646
125,759,772
125,024,927
+
0.6
101,681,251
91,393,038
Wichita Falls
14,964,600
615,464
4.4
2,562,251
100,177,000
13,065,886
Galveston
2,764,702
0.1
+
553,940
3,017,864
+
10.5
2,830,086
100,356,000
Fort Worth——.
3.898,145
—11.4
Federal Reserve District—Dallas-
Dallas—
1,058,936
1,124,386
3.938,247
8,6
Eleventh
Texas—Austin^
.—
2,135,000
1,214.181
327,437,943
+
—
Louisiana—Shreveport
Total
(6 cities)
•
Twelfth Federal Reserve District—San FranciscoSecond Federal Reserve District
Washington—Seattle
New York—
Mew York—Albany-——
:
15,136,790
1.630,311
62,858,000
—,
Jamestown.—
New
York—
Syracuse——
„
Connecticut—Stamford——
Jersey—Montclair
Newark—
+ 10.4
+ 11.6
56,500,000
1,344,757
—12.4
1,095,945
5,398,782,737
0.1
1,268,906
952,944
-.13.0
3,782,883,479
10,786,920
5,782,329
+ 12.2
4,699,334,102
.
Rochester.
Mew
1,477,366
56,300,000
1,094,394
Buff alo___
6,943,072
1,895,728
1,178,090
Bingham ton—
Elmira
■
6,868,411
12,381,755
6,490,067
6,912,211
,
+120.4
—
+ 14.8
23,283,044
Utah—Salt Lake City_
California—Long Beach
932,777
1,338,939
3,266,288,538
10,130.749
5,761,212
10,355,593
5,651,661
'
'
•.
6,469.357
+
6.8
5,421,017
393.038
29,636,653
—,
Northern New Jersey-
'V442,012
26,955.572
+
9.9
572,843
23,574,185
San. Francisco
(12 cities)---
Third Federal Reserve
+.27.8
31,687,639
28.694,790
5,550.921,496
>—12.1
3.927.707.067
3,414,570,482
709,555
601,998
+ 25.7
457,547
493,312
1,555,970
—78.3
421,054
662,110
612,341
8.1
513,782
,
1.892,390
1,667,194
+ 13.5
1.763.461
San^ J0se__
756,884
626,000.000
639,000,000
2.0
568,000,000
1,625,940
1,368,255
+ 18.8
1,437,922
503,000,000
2,196,403
2,516,363
+ 15.4.
3,023,393
2,911,515
—_
Chester.
Lancaster
Philadelphia—
—
.
.Beading-
——
Scranton-
2,902,890
Wilkes-Barre
York
—
___
1.587.545.
1,578,595
Fourth Federal Reserve
1,977,812
4,366,758
.■
Total
(10 cities)"—
1,301,024
1,992,685
6,322,400
4,346,300
1.1
584,959,142
519,171,239
+
—
15*835,200
2,068,151
4.410.330
239,952,435
I
Meftsylvania—Pittsburgh—-
•102,924,879
2,202,103
4.168,185
_
Younsrstown—*"!_
236,734,430
571,658,045
577,054,069
C
(7 cities)
474,925,753
473,612,608
9,016,237.020
9,705,816,255
4,307,033,518
—
Grand Total (111 cities)
Outside New: Yhrk
4,098,264
169,105,000
+
29.3
3,723,481
/
5.1
3,353,816
1,351.335
1,533,412;
2,829,576
+ 42.4
—
.2,871,672
4,316,902,918
T.
+
—
+
0.3
369,886,788
309,272,974'
7.1
7,553,998,717
6,580,344,426
0.2
3,771,115,238
3,314,055,833
•Estimated,
Note—Canadian Bank
of Dec.
Clearing
31,1943. As noted in
+ 36.3
-
211,848.820
—
—
.
+
+
—
+
3.423.722
3.522.658
5.2.
.96,157,790
81,354.761
2.3
192,812.908
167.258,621
3.8
16*099,200
14,581,000
our
were
discontinued
Association
direction;
returns be discontinued
on
not
given
was
that
clearings
Dec. 31, 1943, in view of the fact
some
time that the
correctly reflect business activity, for the;
intra-bank items do not pass
figures did
that
reason,
through the clearing hdii§es.
■
6.5
2,477,544
5.5
3.942,280
2,570,483
4.071,807
1.4
202,623,101
169,831,351
0.3
517*536,545
'443,190,686
.
•
'
■
•'
VH/.-.0'>
■
'
'.it,
1
v.
^
..
as
issue of Jan. 17,1944, page
250, at the last Annual General Meeting of the Canadian
Bankers
that it had been obvious for
16*444,300
Columbus..
Total
7.1
1,216,048
1.803,535.
-
3,232,259
97.596,495
206,888,462
Cleveland—
"
4,602,002'
203,806,000
616,454
—37,9
655,058,529
4.406.065
Cincinnati
I
1,388,740
.
5,222,547
4,105,342
+ 14.0
606,388
District—Cleveland-
Ohio—Canton
Mansfield
4,225.286
5,463,097
Stockton—
5,597,585
5,8
.
+
580,714
"Z
+ 162.6
.4,664,400
648,174,666
(10 cities)—__
+
1,482,423
2,189,585
10,675,000
_.
_
Mew Jersey—Trenton™
Total
239,109,256
1.0
55.141,773
,1.314,826,
47,373,328
19,258,331
1,619,756
—
—
22,272,273
9,777.225
4,058,771.
36.8
District—Philadelphia-
Fehnsylvania—Altoona—
Bethlehem-
—11.6
Santa Barbara—
T
Total
27,098,092
4,294,696
272,525,000
+
24,034,682
34,616,090
4.881.292.347
-
53.240,643
—
5,550,830
—11,1
:
44,246,936
—
—25.6
9.676.606
Pasadena.
:
71,709,771
1,250*782,
91,514,968
1.494,599
90.343,669
23,955,260
Oregon—Portland—
1,445,366
46,400,000
8.9
2,043,992
67,248,537
83.373,995
Yakima
.
tVolume 159
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
2117
Dividends are grouped in two separate tables. In the
first we bring together all the dividends announced the
current week.
list of corporate bonds, notes,
a
which
NOTICES
.
TENDER
OF
Terminal RR.
Association
bonds, due 1953
4%
*
of
1863
Alabama
1764
*
;
Southern
Great
American
Shares
Business
6c/o
preferred
American
5%
.
preferred
''A.
PARTIAL REDEMPTION
Company and Issue—
American Bemberg Coj-p.; 7%
American Gbs &
due Jan.
3V2s, due Jan.
/3%s, due Jan.
y
j/: •'-/V
$1
Page
1857
Date
-
preferred stock--.—
July 1
Electric Co., sinking fund debentures— y
4;:i950—May 22
1, I960—™
May 22
1, 1970—_———May 22
Bangor Hydro-Electric Co., 1st mtge. 3%s, due 1956—-July
Bedford Pulp & paper Co., Inc., 1st mtge. 5s, due 1949_Jun
1650
1650
1650
1548
1858
1
1
Birmingham Electric .Co., first and refunding mortgage
Century Ribbon Mills, Inc.', 7% preferred stock——Sep
1755
1
1
1
1
1
9
,
Cincinnati Gas & Electric Co.,
4'/2%
*
1860
1860
1860
bonds, ser. A,
1860
1861
1250
—
refunding 6 y2%
•
1st lien &
,——-—^.Aug
Iowa Electric Co., 1st mtge. 4s, ser. A, due 1961
1863
1.
,1864
Jun
*
*
Lafayette Hotel Co., 1st mtge. 5s, due 1947————Jun 15
Louisville & Nashville RR., unified mtge. 4%
bonds,
series B, due I960————
——
-July 1
Transfer
1936
Ry., 1st mtge. 3%%
-
-Jun
Montreal Light, Heat& Power Consolidated, 1st mtge.
& collat. trust 3y2% bonds, due 1956—.
.——Jun
National Dairy Products Corp., VA7o
debs., due I960—Jun
New York City Omnibus Corp.~
New York.Rys; Cprp,, prior lien 6s, ser.
v.
Pennsylvania
1960
Glass
—:
Sand
Corp.,
1st
A, due 1958—July
3^2s, due
Public Service Co. of Colorado 4%
debs., due 1949
Jun
Works, 1st mtge. 3%% bonds, series A,
1
Jun
1961
Electric
&
Power
$5
1
1
West
due
1958
Wilson & Co., Inc., first mtge. 3%
5 \
1
Berland
1901
—Jun
bonds,
1
-Jun
1
Jun
1
Jun
1st mtge. 3%% bonds, ser. A, due 1955
——Jun
Eastern Offices, Inc.
(The Graybar Bldg.) 1st mtge.
leasehold sink, fund 5 % gold bonds, ser. A, due 1946—Jun
General Steel Wares, Ltd., first mortgage 4Vis, series A,
due 1952
——————Jun
Gulf States Steel Co., 1st (closed) mtge. 4%% bonds,
due- 1961
-l*
Jun
Grocery Store Products Co.—
'7
Collateral Hen 6% bonds, due 1945
—.——Jun
Harvill Corp., 6% preferred stock
Oct
Hawaiian Irrigation Co., Ltd,, 6% bonds dated 1909——July
Hotel Taft Corp., 1st mtge. 5% bonds, due 1947———July
—
•
———-—-
,
due 1956——Jun
1st & ref. mtge. bonds, series A, due 1953—-—
-Oct
1
1
1
1
Brooke
(quar.).
bonds, due 1956———,———Jun
—
Co.
& G.)
(E.
5-15
Food
6-
1
5-15
7-
:
1
6-15
Fort
5-15
Foundation
50c
6-10
5-15
6-12
6-30
6-12
6-30
6-
$1.50
6-28
6- 2
'
6-30
6-30
6-5
6-30
6-
5
15c
6-15
6-
1
10c
6-15
5-31
12 %c
5-1
4-20
5-1
"4-20
Genesee
$1.75-
■
Cable
Wireless
Cotton
Ink
Callaway
Mills
conv.
Participating
Canadian Celanese,
1
7-31
7-15
$1
6-15
5-29
75c
6-30
6-1
6-1
5-27
*
6-10
6-
6-15
Cahadian
7 %
$2
5-15
5-
6-14
15c
5-31
1
5-22
6-
2 Vic
5-3*1
5-22
15c
6-
1
6-20
6-10
6-12
6-2
5 3/lOc
5-20
.
,
6-10
17 Vic
5-20
5-10
25c
6-14
6-
______
HOc
6-
Canadian
$12i/2c
7-
3
6-15
———
f25c
7-
3
t5c
3
6-15
$15c
7-3
7-3
Western
Power
Co., common——
67c preferred (quar.)—————
Carolina Telephone & Telegraph Co. (quar.)
6-30
6-30
1
4-15
5-
$$2
r-
7-
1
6-15
$$1
6-1
5-29
1
5-15
7-1
6-23
$$1.50
■
6-
$2
each
Central
5
•
1973
936
1863
8
1863
1
1
1
1
1659
1765
1865
1976
,
Ohio
Central Steel
Century
Cessna
1975
Co,
9-
100%
1
6-30
7-
75c
1
News, common
(quar.)—Chicago Flexible. Shaft ;
Chicago Rivet & Machine Co
———
57o
Christiana
Securities
Co.,
(quqr.)
■
77o preferred
Cincinnati Street Ry._L_—
Citizens
Utilities
City Ice & Fuel, common—
6Vi7o preferred (quar.)
—
—
—
—
Clark
Controller
Cleveland
Coast
5 7o
Co.:———
_
Theatres, $4 partic.
pfd.
5%
1
68-
30c
6-30
6-15
1
5-22
6-14
5-19
.31Vic
the
date
close
of
SEC
order
to
5-26
6-
1
5-20
62'/2c
holders
of business on' 14th day
6-
1
5-20
""""'due 1961
General ,mtge. .4V%7o. bonds,, series C, due 1956
—
at
,
1801
Consumers
•
$5
2014
Continental Oil
2014
Continental
July
6
2015
1
1808
$4V2
pfd. (quar.)—
(quar.)
17
;
$4 preferred
Varnish,
(quar.)
common
6-15
40c
•6-5
7-
1
6-15
6-
1
5-24
*5-25
5-12
6-
6-15
5
6-10
6-1
7-
1
6-15
7-
7-
62'/2c
pfd. (accum.)
B)
k
6-16
6-16
6-30
7-
2
6-
1
1
5-15
5-.,'5
6-10
6-1
6-15
6-30
7-15
6-19
7-15
6-24
6-10
6-31
7-
3'
5-31
7-
3
5-31
7-
1
5-31
7-
1
5-31
7-
<
■
Laughlin Steel Corp., com, (quar.)
Preferred, class A (quar.) ______
Preferred, class B (quar.)
1-
5-31
30c
Co.
6-26
6-8
50c
20c.
.- 30c
50c
$1.25
$1,25
20c
25c
25c
6-9
5-27
6-10-
6-,5
6-10
6-
5
7-6
6-
2
7-1
6-2
7-1
6-
6-15
2
5-31
6-10
.
6-5
5-31
7-1
6-12
12J/2c.
preferred
5-25
6-15
37V2c
Extra '—
6-10
30c
-
7-
1
7-
1
(quar.) —$1.50
6-10
6-12
6-12
5-31
20c '
10c
6-15
6-
1
20c
6-12
6-
1
25c
6-12
5-27
$1.50
40c
7-1
6-20
6-14
5-25
15c
6-14
5-25
6-15
6-
(J B)
•
,■
—
Rubber CO.
—_
&
.7-
1
,
3
6-21
1
6-15
6-
6-12
5-13
6-12
5-13
6-12
5-13
1
.5-12
6-
6-15
6-15;
,'6- V
5-31'
i
6-15
6-
6-12
5-27
6-12
5-27
.
6-15
5-29
6-15
5-31
5-27
Mahon
6-15
6-10
Maine Central RR.,
7-1
6-26
6-15
5-31
Co.
___.
$1.25
1
6-15
1
6-9
6% prior pfd.. (accum)
Maryland Fund, Inc. __i
7-
$1.12%
1
6- 9
Master
6-
7-
6-15
1
7-
Electric
McKenzie
5
6-26
Red
Merchants
&
4Vi%
5V\7o
Co.
Lake
Gold
Fire Insurance
Mines..
(Denver)
(quar.)
.
6-20
6-17
5-31
20c
—
5-15
.5-14
preferred
(quar.)
25c
$1.12y2
7-
1
preferred
(quar.)
Sl.Sly*
7-
1.
Co.,
common
(quar.)
1
6-15
6-15
1
5-19
Mergenthaler Linotype
6-
1.
5-19
Michiga)i, Consolidated pas, Coy 6 7o pfd^—
$1
—
..
$1.50
6-13
6-
6-5
1
7-
6-
20c
.
6c
35c
$2y2c
—
7^1
$1.75
$1
(R C)
77-
55c
$1.62 V2
(quar.)
5-31
6-20
15c
25c
$3
■
Paint &
5-33
6-15
15c
(quar.)—
&
57c
Merck
(quar.)
5-20
6-15
25c
30c
1r'f participating preferred
6V2 7o preferred (quar.)
.',5-26
1
Copper
——
Magnin (I.) & Co., common (quar.)_—
25c
(Del.)
Steel
Corp.—
Continental Telephone Co.—
Cook
•Announcement in this issuer
Power Co.,
preferred
6-1
6-
3
Magma
after
Community Public Service Co. (quar.)
Connecticut .Light & Power—-——
—Jun 17
—Jun
Sunrav Oil Corp., "5Vi %' cdnv. preferred stock—:
Jun
Westchester Lighting Co.-New York Westchester Light¬
debentures, due 1954
1
1801
_
5-30
—
$1.25
date of such order.
1
5-30
6-30
——
5-25
6-3
25C
Lamp & Stove (quar.)—
Inc., common (quar.)
preferred class .A (quar.)
6-15
50c
(quar.)_______
Stores
after
*■
Punta Alegre Sugar Corp.*—
6-30
_ —.
payment, is proposed to be made 28 days
1766
1867
*
6-
t75c
$75c
$1,50
(quar.)—
.
Counties Gas & Electric-—
1st preferred
(W
Lamson
5-31
1
6-
7-3
Sessions, common—______———
15c
$2.50 preferred (quar.)—
62y2c
Lily-Tulip Cup Corp, (quar.)_
—
—
37y2c
Lincoln Service Corp. ( Wash., D. C.)—
Common (quar.)
25c
77c prior preferred (quar.)
87V2c
67c participating preferred (quar.)—37y2c
Loblaw Groceterias, Inc. (irreg,20c
Louisiana Land & Exploration (quar.)——
10c
Louisville Title Mortgage Co. (s-a)
10c
Mack Trucks, Inc.
;
$1
Magazine Repeating Razor/ common
25c
$5 preferred (quar.)
—.$1.25
1*
50c
$25c
Stores, Inc., common
Koppers Co., 6% preferred (quar.)
Kress (S H) & Co., common (quar.)—
67c special preferred (quar.)
1
8-10
6-
5-18
.'6-:3"
Kobacker
6-20
6-15
5-18
1
6-10
Kleinert
5-22
25c
$2
(s-a)
Coleman
.
7-
$1.75
6-1
1
6-30
67c
5-25
$1.62 Vi
—
6-11
i—
Kingston Products Corp.
35c
—
(irregular)
6-21
3
B
King-SeeleyCorp,
6-15
1
6-20
.
6-20
$22
common—
1
6-21
7-
25c.
Class
6-20
6-30
6-
6-30
6-
—
A
6-20
6-15
5-25
6-15
6-20
Co.
class
1,
$1
6-15
5-30
7-
2
15C
6-15
7-1
5-29
Plantation
7-1
7-
$1.25
preferred
4-20
1
$1.75
125c
Joy Manufacturing Co. (quar.)
Kayser (Julius) & Co
6-2
50c
Chicago Daily
1
7-
*
Kern County Land Co. (quar.)
Keystone Steel & Wire
6-
,4-20
5-
$1.25,
75c
Kimberly-Clark Corp., com, (increased quar.)
6-26
5-1
:.25c.
6-
8
6-26
6-15
1
57c
6-15
$1
(Consol.) (quar.)
6*-
6-10
,
6-10
25c
Chesebrough Mfg. Co.
6-
7- 1
'
6-15
Jones
•1
6-
6-
6-12
$1
Special
5-22
6-20
6-
7-
7-1
6-
6-30
6-1
75c
(quar.)..—
Commonwealth & Southern Corp., $6 pfd—
1
1
North Texas Co., 1st collateral lien bonds, due 1957—.—Jun
1
Otis Steel Co., 1st mtge. 4'/2% bonds, series A, due 1962-July 15
7-15
$1.75
dividend).__.
Ry.
1
6-20
7-
1
5
56-
6-15
6-16
25c
pfd. (quar.)
l7o preferred—_____
(stock
Ohio
6-16
1
$1.19
Products—*
Ribbon .Mills,
1
7-
$1.12%'
Wife, 67c
Aircraft
Chesapeake &
Colonial
1
Steel
&
7-
5-
5-15
5-15
6-30
$1.25
Jones & Lamson Machine (quar.)
$1.75
5-23
25c
Johns-Manville Corp.
$1.18%
4-27
1
6-
3
6-16
6-30
5-26
'.5-'I
—
share for
one
heldT___—__.
——
4%%
1st preferred (initial quar.)——
77o 2nd preferred (quar.)__
Central Illinois Light Co., 4J/a7o pfd. (quar.)
Central Kansas Power, 4%% pfd. (quar.)__
6-15
6-20
7-3
Jarvis
shares
70
5-20
of Amer.—
(accum.)—
Houston Oil Co. of Te^as, 6%
6-15
$10c
6-1
6-15
';,f; 6%: preferred
6-15
$$1.75
——_—
;
6-15
6-30
$25c
—
6-10
6-15
/
6-15
—
.
(quar.)—
Houdaille-rHershey,
6-15
———:—_—_
preferred (quar.)—
50c
Griggs Cooper & Co., common
50c
Gulf States Utilities Co., $6 pfd. (quar.)—
$1.50
/
$5.50 preferred (quar.)
$1.37V2
Hammermill Paper, common (quar.25c
41/2% preferred (quar.)
$1.12'A
Hathaway Bakeries, inc., $7 pfd. (quar.)—
$1.75
Haverty Furniture Co,—25c
Heileman (G.) Brewing Co
25c
Helena Rubinstein, common (extra)
50c
Class-A;: (quar.. 25c.
Holt Renfrew & Co.,7% preferred
:
t$3.50
I7e preferred (accum.)
$$1.75
Honolulu Oil Corp. (quar.)
25c
Honolulu
6-15
7-
.
5-29
6-30
.
1
(quar.)—
—._—
Electric, Ltd. (quar.)___
Natural -<Gas Light Heat
General
Canadian
.
5r 15
1
6-20
6-20
$1.00
75c
Humble Oil & Refining
37'/ac
Huston (Tom) Peanut, S3 preferred
75c
Industrial Silica, 6y2fe preferred (quar.)—
$1.62y2
Inter-City Baking, Ltd,
—75c
International Harvester (increased quar.)—
65c
Interstate Department Stores (quar.i
25c
Jaeger Machine Co.
37y2c
Jamaica Public Service: Ltd., com. (quar.)
$17c
.77c preferred series A (quar.)_
$$1.75
7% preference B (quar.)—
xl%%.
57c preference C (quar.)xl 147o
57c preference D (quar.)xllA7o
6-5
6-15
6-20
7-.3
1
—
4-14
50c
50c
7-<5
7-
—
5-15
10c
5-lt
$1.75
35c
t20c
J$1.25
$$1.38
25c
75c
50c
Green Mountain Power Co., $6 pfd. (accum.)
1
1
7-15
6-
25c
50c
Paper, $2 pfd. A (accum.)
preferred B
1
7-15
.•••'
preferred
6-
$1.50
(quar.)
Great West Saddlery,-6% 1st, pl'd.
57c
2nd preferred
(quar.)
5-31*
37j/2C
—
(quar.)
5-31
6-10
—_2———■ ■■■';■' '■ 50c.
Great Lakes.
1
40c
$$1.50
—
common
5-31
6-10
—
Common
7-15
62V2C
preference-
(quar.)—.
Exploration (s-a)
Fisheries
Special
6-29
7-31
7-
$1
20c
preferred
Pew
;
t25c
77c
5-20
6-15
25c
62y2c
—r
Great Atlantic & Pacific Tea Co.
$5c
Participating
non-cum.
Gorton
(quar.)—,
5-20
15c
(quar.)
5-25
common
5-20
(quar.) —————
preference
preferred
Co.,
1
Canada.Vinegars,
1st
F.)
1
—
Ltd. (jjuar.)
Canadian Canners, Ltd., common
$5
•
(B,
6-
50c
Campbell, Wyant & Cannon Foundry
5%
Goodrich
.6-
$1.75
.
———
5-31"
5-27
(s-a)
29c
—
Mills—
Co.
(S.
5-31l
$1.50
common—
(quar,)_____
A.) Co., preferred
5
5-31
5-27
♦
—______,'.,
preferred (quar.)_
$5
$1.25
(Birdsboro, Pa.)
quar.)——
deposit rets, for 5 Ms 7o
Amer.
Gerrard
(Holding) Ltd.
California
A
5-20
Battery ——L—.:
&
Brewing Co.,
Class
6-
6-15
25c
Georgia Power,
$6 preferred
6- 5
6-15
$1.75
(irregular)—
1
————
—
Co.
7-10
6-15
Co,
6-
87J/2c.
7-25
7-1
,7- 1
50c
$3 participating preference A (quar.)—
General Reinsurance Corp. (N. Y.)—i——
''
...
Yards
"5-22
30c
5ya% preferred (quar.)
—
Gemmer Manufacturing, class B com. (quarO
6-20
6'4c
57c
,
5
37>/2C
Stock
6-12
6-14
$1.25
Gatineau
1
6-
6-26
87y2c
7% preferred (quar,)
participating preferred (quar.)—'
Power, commdn (quar.)
preferred (quar.)
7%
.
5
6-
Worth
1
15c
75c
125c
Gallaher Drug Co.,
6-30
———:
Co.
Iron
preferred
6-10
6-10
V
Inc., common (quar.)—
(quar.)——U———————
6-10
—
—
—
Fund.
Burgess
-
National City Lines, Inc., $3 conv. preference, stock
Aug
National Container Corp. 15-year 5 %% debs., due 1952^0ct
Baragua Sugar Estates, income debs, and notesy
-July
Companias Aziicareras
Punta Alegre, S. A., and
Florida joint income notes——
——July
Republic Steel Corp., gen. mtge. 4Vi% bonds,.series B,
$2J/2
Stores
7-15
25c
1
Fair
6-
6-10
—
6-
6-10
6-15
8-1
'7-/3
,
25c
Ford, Hotels Co.—:
Ltd.
Burd Piston Ring (quar.)——————
Bullock
1761
.
Louisiana Power ;& Light Co., 1st mtge. 5s, due 1957—May 26
Mengel Co., 1st mtge. 4y2s, due 1947
—
Jun 21
Mississippi River Power Co., 1st mtge. 5s, due 1951—July 1
Missouri, Gas &'Electric Service Co., 1st mtge. 4% to
5%
B
(quar.)„
5-20
6-17
5-31
5-27
27c
1
25c
5-31
6-10
—
6-
Power
Brown-McLaren Mfg. (reduced
Buda
Company
——
1553
1764
ing Co.,
6-10
preferred
40c
Corporations —;
—_L———
Bright (T. G.) & Co.,.Ltd., 67o pfdf (quar.)
Brockway Motor CO.
—I——.—;
1860
1860
Kaufmarin Department Stores, Inc., preference stock—Jun 15
Keith-Albee-Orpheum Corp., 1% preferred stock——Jun 15
mtge. bonds, series C,
—
6-30
25c 7.
5-31
6-10
$1.25
$1.50
20c
62y2c
62y2c
'''25c
Federal Mining & Smelting Co.—First State Pawners Society (Chicago) (quar.)
Breeze
1655
1447
1447
.
5-29
(quar.)———.
Corp. of America—r'
Common (stock dividend)
1
1
_5%
6-14
57c
Celanese
Illinois Power Co.—
1st & ref.
6-15
dividend
$1.25
Wharf Co.' (irregular)
Brager-Eisenberg, inc. (quar.) LJL
Cudahy Packing Co.-—
—
7-15
Stock
10c
Boston
1808
Co., preferred
debentures, due 1950
6-9
5
30c
preferred
Class
1808
stock——
-July
Canadian National Ry., 5% guaranteed bonds, due 1969-July
Conv. 4%
1
50c
6-15
$1.25
Pittsburgh RR. (quar.)————
Company i.s-a)——
Eversharp Inc., common (quar.)
6-10
7-
'
6-12
JSSVfec
&
75c
Stores
Borne-Scrymser
1858
1859
1348
1968
Tobacco
Erie
6-20
35c
25c
Inc.
T—i
Empire Power, $^.25 partic. pfd. (accum.)—
English Electric, $3 non-cum. cl. A (quar.)
6-
5c
& Light, common
(quar.)—————
Blumenthal (Sidney), 7% preferred (quar.)
Bon Ami Company, class A (quar.)—
682
1
1
Canadian Pacific Ry., 5% collat. trust bonds due 1954—Jun
1
Century Ribbon Mills, Inc., 7% preferred stock—
Sep
1
Cuban American Sugar Co., 5 y2% conv. pfd. stock——Jun 30
debentures, due 1949—
Hills
5%
Page
Axton-Fisher
Shoe
5
—
$2
———
Black
1902
1902
Date
convertible
—Jun 30
and Issue—
Company
•
.
$1.25
Inc., com. (quar.)—
preferred (quar.)...
Birmingham Gas, $3.50 preferred (quar.)—
ISSUES CALLED
American International Corp., 20-year 5Vi%
:
7V2C
17c
1290
1
Harbor
7-
preferred (quar.)
57c conv. preferred (series 1941) (quar.K
Electric Boat,'Co'.——
Special
u
' V
$2.25
'
5-20
$2
conv.
7-3
——
(quar,)
preferred '(quar.)—-w—
1
_
7-1
—
(quar.)
6-3
6-
Essex
————
Diesel Engine
6-10
$2
15c
15c
25c
—
Malleable Industries
&
ENTIRE
5%
$1.50
quar.)
5-27*
$1.37y2
$1.75
———_
Corp.
1868
1801
1
1
July
July
bonds, due 1958
1
6-17
I——
„:
Imperial
60c
——
6-
6-30
„—————
(initial
(quar.)—
Electromaster
Benton
trust bonds—
————
6-15
12VaC
common
Co.
6-16
6-20
Co.—
(quar.)—
Eastman Kodak Co., common (quar.)
6% preferred (quar.)—
Edison Brothers Stores, common (quar.)—
1
Trust—
Belmont Radio
1902
1902
Inc., first preferred stock—,
Disinfecting Co., 1st mtge. and coll. 3%%
8
Common
2014
Raalte Co.,
6-
Avery (B, F.) & Sons, 67c pfd. (quar.)—
Bankers National Investing Corp.—
1868
1
1
5%% series B, due I960—
Edison,
Atlas Press Co.
1768
1868
1
Van
Arts
Farms
preferred
Atlas
,1767
1
—Jun
—
6-10
—
Co.
California
Toledo Edison Co., 3 Vt%
United Public Utilities Corp., coll.
6% series A, due I960——
1
6-15
Co.—
1866
1
debentures, due 1960
—Jun
United Biscuit Co. of America, 3%% debs., due 1955—Jun
—
7-
50c
—
(Conn.)___—
1802
———
12'/2C
—
12V2C
(s-a)
Atlantic Coast Line Co.
•
.Schenley Distillers Corp, 5%% preferred stock—.—Jun 30
Sherwin-Williams Co., Cleveland, 5% pfd. stock, series
•AAA
6-10
$1.25
1288
May 22
»
1
—
Co., 1st & ref. mtge. 5%
bonds, ser. P, due 1955
7-
Armstrong Rubber, class A (irregular)
—
Class B (irregular) —"——
Associates Investment Co., com. (quar.)___
5% preferred (quar.)—'
mtge.
Portland General Electric Co., 1st mtge. Ss, due 1950—Jun
due
15c
Telegraph (quar.)—
preferred (accum.)—
Corp. (irregular)
Co.. $3 preferred (quar.)—
'Extra
1975
Phelps Dodge Corp., conv. 314% debentures, due 1952—Jun 15
Pittsburgh Steel Co., 1st mtge. 4Vis, ser. B, due 1950—Jun
1
Portland Gas & Coke Co., 1st lien & gen. mtge. 4y2%
bonds, due 1950'—————-—Jun
1
Savannah
Arden
———————-Junyly/ -1867
Ban Jose Water
6-10
American Telephone &
American Woolen, 7%
bonds dated
——
-
7-1
Sugar Refining—
preferred (quar,)
——
—v
American Surety Co. of New York (s-a)..—
6%
1
Kentucky Utilities Co., ;4Vi-% bonds, due 1955———May 18
Minnesota
15c
——
Welfare
Stores
1
•
——
Central America,"
bonds, due 1947—.
6-
7%
*
•
Rys.> of
6-15
6-15
.
6-30
6-10
.
American
1858
1858
due 1948
—i—
July
1
Emporium Capwell, 1st mtge. 4 % bonds, due 1952——July 1
Fruehauf Trailer Co., 5% preferred stock—May 22
General Steel Castings Corp., 1st mtge. ..SVi%. bonds,
series A
——July 1
International
6-
6-30
Atlantic Coast Line RR.
1st mtge. 3V2S, due 1967_Jun
City Light & Traction Co., 1st mtge. bonds, due 1952—Jun
Consolidated Oil Corp., conv. 3 y2 % debs., due 1951Jun
Consolidated Textile Co., Inc., conv, 5% debs., due 1953-Jun
Eastern Massachusetts Street Ry.,
6-15
$1.50
(s-a)_^i«—
Stamping
American
Arizona
1
1
Public
Class 'A,
Applied
due 1968—
—Jun
Buffalo Niagara Electric Corp., serial debentures—
Series B, .3%
due 1945,-1946 and 1947--——-—Jun
V Series C, 3%%, due 1948 and 1949———
Jun
4Vis,
.
■;
American
'
__
American
5-15
1
Finance Corp.—
preferred
non-cum.
6-
15c
(quar.)
Yard
1
6-30
,
35c
135c:
Driver-Harris Co.
60c
du Pont (E. I.) de Nemours & Co.—
Common (interim) - u——"
$1,25
$4.50 preferred (quar.)—
$l,12y2
5-10
;
...
Stock
preferred
$1.25
15c
•;'
57c preferred (quar.)—'——
Dominion Foundries & Steel (quar.)——
5*29
$1.25
American Cyanamid Co., class A (quar.)
Class B (quar.)—
5-20
—
5-29
6-29
5-15
6C
(quar.)_——
Colortype
6-29.
»
American Cigarette & Cigar, common—^—
American National
>"
$4.50
50c
(s-a)
7-
5-31
——_
Stores Corp., common (quar.)
Q7e preferred (quar.)—
Distillers Corp.-Seagrams, common (quar.)
6-15
$4.50
RR.,
7-35
4c
Diana
0/ Bee.
7-1
75c
uJl—
ordinary—
6%
participating preferred
Alloy Cast Steel Co. (quar.)
2013
—
Holders
Payable
thare
—•
.
$1.31'A
—
Agricultural Insurance (Watertown, N. Y)
Quarterly
! 5-26
Semi-annual, ——________ri.__________
Detroit Steel Corp
Devonian Oil Co. (quar.)-—
———
When
Per
Hame at Company
1
1
6-10
Detroit Hillsdale & Southern Western RR.—
Industrial and Miscellaneous Companies
1148
.I--—i——/^_May 3l;r *
St. Louis, gen. mtge. ref. <
V
Jun
5
2015
-
5y2 (^
V;';'.
66-
20c
-
Delaware & Bound Brook RR.
Department" in the week when
declared.
*
Metropolitan Playhouses, Inc., 5% debentures, due 1945_May 25
Philadelphia Transportation Co., consol. mtge. 3%*6:;;7
bonds, series A__/Lf_—Jun 15
Pittsburgh, Youngstown & Ashtabula RR. 1st gen. mtge.
bonds
Denver Union
Page
Date
debentures, due 1948_May 19
Cleveland, Cincinnati, Chicago & St. Louis By .-St, Louis
Division, 1st collateral trust mtge. bonds, dated 16SO_May 15
Hudson River DayTLine, 1st mtge. 6s, due 1946—...
May 31
international Paper Co., 1st & refunding 5% sinking
;
fund mortgage bonds; series A and B———-May 31
Kanawha Bridge &;Terminal Co., 1st mtge. bonds-—__Jun
1
Manati Sugar Co., 20-year 4 % s. f. bonds, due 1957
Jun
2
preferred (quar.)
Tissue Co._—
Hammer, Inc.—
conv.
and Investment News
The dividends announced this week are:
Carrier Corp., 10-year 4& % conv.
•
57o
Cutler
of Rea.
6-10
62VaC
Crystal
Holder«
Payable
6-10
preferred
$5Vi preferred A (initial quarterly)_
Crown Capital Corp./class A (quar.j__
Crucible Steel Co. of America—
second table in
we
When
,
there
common—20c
(quar.)—
Cornell-Dubilier Electric Corp., common
,
Company and Issuer—
v
a
conv.
ord of past dividend payments in-many cases are given
under the company name in our "General Corporation
ing tenders, and the page number gives the location in
which the details were given in the "Chronicle."
.
follow with
we
5'k
show the dividends previously announced, but
which have not yet been paid.
Further details and rec¬
preferred and common stocks called for redemption,
including those called' under sinking fund provisions.
The date.indicates the redemption or J ast date for mak¬
■
Then
Per
Name of Compang
Copperweld Steel Co.,
Notices
a
Below will be found
-
'
J
.
DIVIDENDS
Redemption Calls and Sinking Fund
1
ill
0-1
*
FINANCIAL CHRONICLE
THE COMMERCIAL &
2118
Monday, May 22, 1944
/
Name at Company
Mid-West
^
Abrasive
Minneapolis Gas Light, 5%
$5.10 preferred (quar.)
5%% preferred (quar.)
(quar )___
pfd,
_
4%
preferred D (initial quar.) __
——;
Minneapolis Mining & Mfg.
_____________./■,
Mississippi
$7
preferred (quar.)
Mock, Judson Voehringer Co.
Muskogee Company (irreg.)
Narragansett Racing Association
National
IS%
Lines,
City
National
___
(quar.)—
preferred
convertible preferred
convertible
6%
35c
50c
~~
(irreg.)
$3
15c
15c
75c
25c
T
(quar.)__——_
pfd. (quar.)_
conv.
Folding Box Co., common
.'*■
sc>c
Common
Oats
National
Co.,
common...
(quar.)
Standard Co.
National
15c
50c
Co.
Radiator
National
25c
—.—
_
.
$1.25
_—$2.25
New England Tel. & Tel.
$1.25
Newmont Mining Corp.
.37 Vic
Niagara Share Corp. (Md.) class B______L_
10c
6%
preferred A___
_____—
$1.50
(quar.)
5% preferred
Newark Telephone Co. (Ohio)
Neiman-Marcus.
Niles-Bement-Pond Co.
$1-25
,.
Northwestern Utilities,
(quar.)
common
Extra
—-—
:
:
$$1.50
$1.50
pfd. (quar.)
Ltd., 6%
Okonite
Co.,
50c
—
(Wise.)—
(quar.)
preferred
5%
—.-
Power
States
Northern
50c
—
preferred (quar.) '
Oshkosh B'Gosh, Inc., common
$1.50 preferred
(quar.)
Pacific Mills
(quar.)
6%
$1.50
10c
37V2C
——
(quar.)
____
50c
$$1.25
Tubes, Ltd. (quar.)—__—,—
Peabody Coal Co., 6% preferred (accum.)__
Penick & Ford, Ltd.
—
Page-Hersey
$1.50
75c
30c
75c
$1.75
$1.50
$1.25
$2
class A (quar.)
Penney (J. C.) Co
Pennsylvania Power & Light, $7 pfd. (quar.)
$6 preferred (quar.)
_
—
$5 preferred (quar.)
_
Pennsylvania Salt Mfg.
(irreg.) _____
Pet Milk Co., common
(quar.)
4%%
preferred (quar.)
Petroleum Exploration Co., common (quar.)
$1.20 preferred
25c>,
$1.0614
25c
15c
Extra
Petroleum
$1.25
RR.
(quar.)
Corporation
Pickle
Crow
$1.50
20c
$5c
10c
25c
.——.—
Co
Co.
Pittsburgh
—
$1.50
20c
Pratt Food Co.
Public Service
6%
_______
—
Inc.
Corp.,
_
Co.
Brothers
Class
Schiff
t
6-
5-25
6%
Wood
7-
6-24
5-20
7-
6-
7-
6-15
6-
5-20
$7
6-30
6-
6-16
6
6-15
6-
2
6-15
6-
5
prior
1
1
5-
1
1
4-15
6-
1
5-15
6-
1
6-
1
weeks
4-15
5-
-
dends
1
6-
1
6-14
6-
6-15
6-
6-30
6-12
7-
I
6-15
7-
1
6-15
7-
Name
1
1
Steel
1
1
1
6-10
6-10
66-
6-
5
5%
Mfg.,
common
5
5-20
6-12
5-27
(initial)
Alpha Portland Cement
6-30
5-31
Aluminium,
6-15
6-
6-
preferred
4%
1
6-24
6-10
5-31
5-20
6-16
6-
Aluminum
1
1
of
Co.
—
6%
America,
Industries,
Aluminum
(quar.)
Inc.
6-15
1
Automobile
1
6-15
5-25
6-15
6-10
5-27
preferred
7%
6-15
6-26
7% pfd. A
(quar.)
American Envelope,
1
1
6-15
6-15
5-31
5-31
1
6-15
7-
6-
6-21
6-
American
6-15
1
7-
Gas
1
Electric,
&
preferred
43A%.
5-30
4-26
6-10
6-
6%
1
Corp-i
1
5-15
6-
1
5-15
I 5-31
5-19
5r31
5-19
5-31
5-19
'6-2
(s-a)
preferred
$2
Machine
&
5-29
6-21
5-29
American
5-31
American
Radiator
6-20
1
6-20
6%
preferred
Co., Ltd.,
7%
40c
10c
77-
1
6-15
68 %c
7-
1
6-15
1
7%
Co.,
common
Title Insurance Corp.
Williams
&
Transue
Travelers
Insurance
Coal,
Truax-Traer
preferred (participating)
American Smelting & Refining Co.,
American Steel Foundries (quar.)
514%
1st pfd. (accum.)
preferred (s-a)
American Superpower,
American
Thread, 5%
American
Tobacco
6-15
6-
1
20c
50c
5-31
5-15
6-15
5-31
$1.75
6-15
6-
1
Ampco Metal, 6%
7-15
7-
1
Andian
1214c
5-31
5-19
6-10
5-29
Archer-Daniels-Midland
6-10
5-24
Arkansas
________
50c
$4
20c
6-10
6-1
,____—_
$1.3714
6-15
50c
6-30
6-15
3714c
$1.1214
30c
75c
30c
25c
$1.50
35c
6-30
6-15
preferred (s-a)
—
Armour & Co. (111.), $6 prior pfd.
(accum.)
Armstrong Cork Co., common (interim)
4%
conv. preferred
(quar.)
6-15
6-
5-20
5-10
6-24
6-14
Union
Sugar
6-10
6-
1
Union
Wire
6-15
6-
1
6-15
6-
1
6-30
5-19
5-18
3-10
(quar.)—
Rope (quar.)
Co.
.
Aircraft
United
Elastic
United
Fox
Corp.,
Corp
Improvement (stock dividend).
a share of Delaware Power &
Light common for each share held.
United Gold Equities of Canada Ltd.-—
United
Gas
l/20th
&
common
S.
S.
Sugar
Corp.,
conv.
Universal
1
•
preferred A
Fire
(partic.)_
Co., class A
Class
B
C
Corp.,
6-15
6-
1
,
2nd preferred
(s-a)
(interim)
—II
Drop
Powder
Tack
6-14
6-
2
6-15
6-10
Atlas
Gold
6-
1
5-20
Aunor
6-
1
5-20
Automotive
Common
6714c
8-
1
7-20
Aviation
$1.25
8-
1
7-20
——————-
Forge
——
1
8-25
1
6-10
Mines
Gear
Common
—
(quar.)
Works,
(irregular)
Mills,
—1
(quar.)
Corp.
5-18
common
$1.65 pfd.
(quar.)
1
5-24
6-15
5-16
6-
1
5-
6-
1
5-20
6-
1
5-20
$1.25
6-
1
5-19
pfd.
6-15
6-
5-29
5-19
$1.50
6-30
6-26
(quar.)
1
40C
50c
5-25
5-13
16c
A
/
5-20
4-28
(quar.)
5-25
5-15
6- 9
1
5-22
$1.50
6-30
6-23
4-27
50c
25c
6-
A
'
$1
6-15
$50c
5-20
tioc
5-20
4-20
50c
6-10
5-25
50c
6-
■
4-20
1
5-17
$25c
7- 3
6- 6
$1.75
5-31
-a;
(quar.)__
1
25c
6-15
a
6-
6-20
6-15
5-19
1
6-13
20C
7-
15C
6-13
y 7-1
*$1.25
5-20*
1
6-
5-15
2C
&
Concen¬
,r
5-25
15c
7-
3
50c
+
5-25
45c
(quar.)
6-
1
1''
5-15
6-
5-
1
6-
5-15
5
5
5-
15c
6-
1
5-
3
6-
1
5-
3
6-15
6-
1
20C
(quar.)
preferred (quar.)
.
$1.75
::
6-
25C
5-18
1
Ltd.—
preference (s-a)
Electric Power,
Dominion
9
5-15
?
37%c
Co
common
convertible preferred
&
5
5-12
1
7%
1
V 7- 1
$1.75
.■v-
5
5-19
5-15
6-
$ioc
$1.25
(quar.)_—
5-
1
6-15
50c
•/
„•
Mining
5-15
6-20
5oc
Rubber
Oil, Ltd.
6-15
-
Sugar,
4-14
5-15*
10c
ey*'
Ale
6-
1
$20c
(interim)-
Ltd.
5-20
2%%
#
common
6-
1
6-
8
25C
5-15
5-24
1
1
Dry
Canada
Foundries & Forging, class A (quar.)
$37V4c
"6-15
Canada
Malting Co., Ltd.,
regist. (quar.)—
(quar.)__
$50c
6-15
5-15
Northern
$15c
7-15
6-20
5-15
6-
Canada
Canada
6-
5-15
6-
6-12
7%
1
6-
Wire
B
614%
1
6-12
5-31
6-
1
5-19
6-
1
5-19
6-20
5-31
6-30
5-26
6-
5-22
1
"
Power,
common
.
1
6-20
7-25
$$1.75
(quar.)
6-
$$1
6-15
5-31
$25c
& Cable,
y 6-15
5-31
$$1.62 V4
6-15
5-31
6-
1
4-29
class A (quar.)_.
(quar.)
'
preferred (quar.)_
Bakeries, Ltd.—
Canadian
5-13
1
Ginger
preferred
Canada
5-13*
1
Class
5%
partic.
preferred
(quar.)
Class
6-
5
6-15
1
7-
1
5-31
6-
1
5-10
6-
1
5-10
7-
;
6
6
1
1
1
5-2P
5-31
6-15
5-31
$1.50
25c
I \
5-
8
$1
10c
$1.75
6-15
6-
1
6-12
6-
1
5-15
6-
1
5-15
5- 4
1
5- 1
6-28
6- 8
$4c
6-
1
Wirebound
4-15
7-
3
—
(pccum.)
Boxes, class A
$37V4c
6r
1
5-15
6-
preferred (accum.)—
—
6%
preferred (accum.)—:
—
Central Ohio Light & Power, $6 pfd. (quar.).
Central Railway Signal Co._—
—
-Central & South .West Utilities Co.—
>
6%
prior lien preferred (accum.)
7%
prior lien preferred (accum.)——
Century Ribbon Mills, 7% preferred (quar.)_
$2
common..
preferred
25c
6-12
Chain Belt Co.—
5-31
Chain Store
6-
1
5-12
6-
1
5-12
1
6-12
$1.50
$1.50 ' preferred
80C
Chestnut
Hill
RR.
Corp.
$3
(quar.)
preferred
6-
1
5-12
5-31
5-31
5-15
8
6-
1
5-
6-
1
5-20
6-
1
5-20
5-25
5-10
1
5-15
7- 1
6-15
5-13
6-
1
5-25
6-20
5-31
6-20
5-31
$1.75
6-
1
5-20
25c
5-25
5-10
37V4c
6-30
6-20
'37V4c
9-30
9-20
37 V2C
12-30
12-20
75c
6- 4
5-20
75c
6-
25C
6-1
5-19
25c
7-14
6-14
10-14
9-14
50c
5-26
5-
75c
6-14
5-20
—
•
—
5% preferred (quar.)
Bar Knitting
(quar.)—
$1 %
;
$15c
—
preferred
(quar.)
Clearing Machine Corp
9
5-15
6-
1
9-
1
8-15
1
11-15
6-
1
5-15
5-15
.
Circle
City of New Castle Water, 6% £fd.
City Water Co. of Chattanooga—
5-15
12-
$1V4
preferred (quar.)_
Extra
1
Pacific Ry.—•
5% preferred (quar.)
5%
5-20
1
$3.50
Co.—
Chrysler Corporation
Cincinnati New Orl. & Texas
5%
5-20
6-15
6-
$3
Quarterly
5-25
6-15
$1
.1—
Chicago Yellow Cab (quar.)_
Chickasha Cotton Oil (quar.)
5-15
5-17
$2
(quar.)——
Chicago
3
1
5-15
1
6-
$1.50
.
5
6-10
5- 8
5-31
$1.25
—
5-
6-10
5- 8
5-23
50c
—
6-
"Chile Copper
5-23
80C
(s-a)__!
(s-a)
(s-a)
1
1
7-10
25c
preferred
'
6-20
5-22
5-15
7-20
50c
_________
——
Products $1.50 pfd.
6-
6-
1
$1.25
$6
6-30
6-15
1.
6-
Oil,
6-21
6-12
6-10
(quar.)
Carman & Co., Class B
$2 Class A (quar.)
Carolina Clincbfield & Ohio Ry. Co. (quar.)
Catawissa Railroad Co.—
5% 1st issue preferred
5% 2nd issue preferred
Caterpillar Tractor (quar.)—
Central Foundry Co., 5% conv. pfd. (quar.) —
Central -Illinois Public Service Co.—
■
•
6-15
1
6-
$2c
Marconi Co
6%-
•
$1.50
6-
6-20
5-10
6-
$15c;,-
1
6-30
5-20
6-
5- 4
$1
5-11
6-
1
$1.50
6-24
1
6-
6-
r
preferred
Canfield
6-24
7-
1
6-10
•
6-
7-
:
Canadian
5-20
75c
75c
$50c
(interim)______
Investment Trust—
Canadian
5-31
6-
5-31
(accum.)—
Canadian Malartic Gold Mines—
5%
1
5-
1
Canadian International
1
1
B
7-
Alcohol—
A (interim)
Class
5-15
$62V4c
*
Products■ (increased quar.)_
Foreign Investment Corp. (quar.)
Canadian Industrial
1
$85c
(quar.)
Food
Canadian
5-15
1
6-
$75c
Canadian
7-
$25c
$15c
Canadian
'
$$1.25
:
$3.40 conv. pfd.
Fairbanks-Morse Co., Ltd
Canadian Breweries,
5-31
6-
1
6-
Canada
5-15
6-
6-
6-
5-29
1
1
1
6-
5%%
6-30
5-15
67-
$2
<accum.)__
Co.__
&
'4
5-15
1
6-
75c
75c
(s-a)
Sullivan
Brothers,
1
$1.50
Ltd. (quar.)__
(Los Angeles) <quar.)-
&
8
50c
$1.50
40c
6-15
10c
7c
7c
6-
$1.25
6-15
25c
$1.50
6-20
12V4c
6%
California
2
1
t5c
41 Vic
6- 2
1
common
Byers (A. M.) Co. (initial)
Cable & Wireless (Holding)
;
1
40c
1
Co
Inc.
Butler Water,
5-18
6-10
7-
$2.50
25c
75c
50c
4-25
$1.75
7-
I21/2C
5%
6-
1
5-15
Products
Hill
Butler
7-
25c
$1.50
$1.75
37J/ac
$1.50
$1.12V4
7-
40C
(quar.)
11-25
1
75c
Co._
Corporation
Avondale
6
——
6% preferred (quar.)—
Atlas Corporation,
Atlas
6-
———
& Santa Fe
Atlantic Refining Co
Atlas
6-20
;——_
4V4% pfd. (quar.)
Atlantic Gulf & West Indies SS Lines—
5% non-cumul. preferred (s-a)
6- 5*
25c
—-
Gas Light,
6- 5
1
—
Corp., 75c preferred (s-a)—
Topeka
6-19
6-
_
5-20
Mills, common
5% preferred (quar.)
Burroughs Adding Machine
6-
50c
25c
1
Burlington
115c
common—
(quar.)
(quar.)
preferred
1st
6-19
6-15
(irreg.)
(quar.)—
Associated Dry Goods Corp.,
7%
1
9-
6-15
Works, Inc.
Metals
6%
Bunker
5-25
6-
12-
6-
(quar.)—
;—_
15c
Associated Breweries of Canada (quar.)—J25c
Art
10c
50c
common
common—;——
preferred
50c
(s-a)—;
Class
7%
1
50c
Co.—
Missouri Power,
$1.3714
(quar.)
I
Inc.
Brothers
Artloom
$1
City)
common
prior preference
Veeder-Root
Co. (Salt Lake
6-12
75c
$2.25
30c
6%
40c
Insur.
Valley Mould & Iron,
6-12
,
preferred (s-a)—:.
Ltd. (resumed)
Anglo-Canadian Telephone class A (quar.)
10c
common-
partic.
1
20c
,
6-15
7-
(quar.)
.
National Corp.,
Atlanta
6-30
(quar.)
common
Amoskeag Co., common (s-a)
$4V4 preferred (s-a)
Atchison
50c
Co.,
Class B
Common
Astor Financial
$4c
Products
Home
Warren
____
(irregular)—
Illuminating Co.
Graphite Co. (irregular)
$5.50
5
of
Standard
6.4%
6-
.
common.;
7-
1
7-
1
Film, com. (quar.)
$1.50 convertible preferred (quar.)
$4.50 prior preferred
(quar,)——
Twin City Fire Insurance Co. (Minn,) (s-a)
Twin Disc Clutch Co. (quar.)__—___.
Century
6-
5-15
6-
6-
75C
Mfg., $5 prior pfd.
Forge
Bullock's,
12V4c
cojn
$1.75
of
G.)
Building
6-30
5-20
America (quar.)
Co.
(interim)
Corp.
Buffalo
6-10
:
1
Burial
(E.
6-30
6-
conv. pfd. (optional).
of common stock______ :.V-
Buell Die & Machine
1
6-
50c
(quar.)_
preferred
Twentieth
6-15
6- :1
27 82/100c
50c
50c
$1
$3
5-31
6-30
'
6-15
5-27
common—
5-20
7-
6-15
of St. Louis (quar.)__
Steel Forging
Co. (quar.)—;—____
1
20c
(initial)
3
Cement—
preferred
Budd
6-
$1.75
20c
preferred
6-15
(quar.)
5-18
$3.50
pfd. (accum.)_
Sanitary—
35c
50c
_
6-10
Standard
&
Common
(quar.),
preferred
6-15
25c
common
Service
7%
5-15
1
20c
(quar.)
American
Shovel,
1
7-
$1.50
Public Service,
6-15
7-
American Metal
5-17
5-31
7-
75c
(quar.)
Buckeye Pipe Line Co
Bucyrus-Erie Co., common
7% preferred (quar.).
15c
Foundry
American
Common
$5
10c
preference
American
5-27
Flour Mills Co._
Manufacturing Co.__.
1
62Vic
50c
Illinois, com.__
(quar.)
preferred
(quar.)
25c
Thatcher
6-
3
75c
Investment Co. of
convertible
5%
5-15
3
(quar.)
(Bklyn.)
.
6-
~
5
5-31
7-
30c
Brooklyn Edison Co. Inc, (quar.)
Brown Shoe Co., Inc. (quar.)
Bruck Silk Mills Ltd. (interim)
Brunswick-Balke-Collender common
5-22
6-15
6-
6-
$$1.00
!
$3
American
British
prior
___—
5-29
Tex-O-Kan
6-10
5-19
20c
—
American Insulator Corp. of Deleware,
6-10
Extra
1
7-
5-18
5-15
Bearing
Bristol-Myers
5
6-15
75c
...
(monthly)
6-15
,
5-
6-
50c
62V2C
75c
(quar.)
6-21
6-
5-12
1
Leather—
preferred
conv.
6-13
1
5
•
15c
(special)-
common
American Home Products
6-
7-
1
7-
$1.18%
2
5
Corp., class A
Brewing
6-
6-
66-
$$1.75
Trust
Hose
Woven
Roller
6-15
3
7-
25c
5-18"1
5
6-10
40c
6-15
•
6-
12V2C
preferred (quar.)
$2.50 preferred (quar.)
$3 preferred (quar.)
6-28
1
—:
(quar.)_
common
$2
5-16 "
9"
6-
6-
$1.50
$1.75
(quar.)
General
American
5-20
1
(accum.)
(accum.)
Forging & Socket
preferred
$7 preferred
$6
3.
5-15
37V4c
Casket (quar.)
(accum.)
Brazilian Traction Light & Power (interim).
Brewers & Distillers of Vancouver, Ltd
6-16
6-24
$1.75
$1.75
$1.75
(quar.)
preferred
(quar.)
American & Foreign Power Co. Inc.—
7%
6-15
1
6-30
68%c
7-
$$3.50
(quar.)
Manufacturing
trating
$2.75 class A (optional dividend series) of
1936.
Cash or 32 share of class B stk._
6-15
37V4C
Co., $3 preferred
Company (interim)
Brandon
25c
$1
—
3
(quar.)
E.)
Boyertown
(St.
Co.
7-
;
6-30
7-
4-28
$50c
$1.25
&
share
33
(F.
Bower
Cities Power & Light Corp—
American
5
6-
5-20
6-
1
■
6-15
5-20
7-
or
'Boston
1
25c
(quar.)__
Chicle
American
6-15
6-
5-15
1
6-
(quar.)
Boston Fund, Inc.
7-20
5-19
1
Boss
5-17
9
(quar.)
(quar.)-
Investment
Borden
9
5-17
1
6-
$25c
(quar.)
Limestone
Ridge Corp.,
Booth
1
6-
Company (quar.)
Cash
6-10
37VaC
:
25c
common
67-
$1
75c
Insurance
(quar.)—
Louis)
Blue
6-
15c
Corp._
preferred
Bond
6-15
1
6-15
7-
6-
10c
_____
class A
Blaunerfs, Inc., common
Bloch Bros. Tobacco Co.,
-
6-15
1
~
$30c
—
25c
(James)
7-
5-31
Bigelow-Sanford Carpet, common...,
;
6% preferred (quar.)
r
Bird & Son, 5% preferred (quar.)
Birmingham Water Works, 6% pfd. (quar.)
5-20
6-30
5-31
6-15
■
Spinning Association—
Fine
preferred
&
7%
•
$1.50
50c
15c
(quar.)
pfd.
Amalgamated Electric Corp., Ltd
Amalgamated Leather Cos, Inc.—
6% preferred (accum.)
6% preferred
Amerex Holding Corp. (s-a)
5-31
7-
(quar.)—
common
Common
2
7-
Ltd.,
preferred (quar.)
6%
American
;
1
5-20
25c
$1.25.
25c
59c
25c
J$2
$$1.50
(quar.)
common
(quar.)
preferred
30c
:
1
6-10
Co
Fuller—
Best
5-31
6-
1
5-15
6-15
(quar.)
preferred
preferred
6%
,
6-15
8
6-
1
(quar.)
Aviation
Bessemer
5-12
6-
15c
$1
(quar.)-..
Rolling Mill Co
Paper
6-12
1
6-12
of Reo.
6-30
35c
$1.75
Mills
Allied
6-28
25c
—$25c
$75c
(quar.)
preferred
Co.
&
(irregular)
Albany & Susquehanna RR.
50c
(quar.)—
(quar.)
Ltd.
pfd. (quar.)
5-15
6-
•
$$1.50
(s-a)_
Inc. (irregular)
common (quar.)
Bethlehem Steel Corp.,
75c
(irregular)-
Inc.,
preferred
•Berkshire
20c
714c
$1.50
$3.75
Allegheny Ludlum Steel, common
7%
preferred (quar.)__
Allied Laboratories (irregular)
1
6-10
Instrument
Marine
6-15
$$2.50
1
(quar.)
Bensonhurst Nat'l. Bank
Holdert
Payable
4-29
3
$25c
Ties,
Mills,
Bendix
20c
(quar.)
Manufacturing (quar.)______
Inc. (quar.)
_
—
Alabama Water Service, $6
6-10
7-
D.)
&
Airplane
5-29
7-
Co.
(J.
Air Associates,
6-15
6-15
Adams
thare
of Company
1
76-
30c
class A
preferred
7%
6-15
6-15
6- 1
When
Per
6-
$i2y2c
Belding-Corticelli, common (quar.)
Miscellaneous Companies
and
Industrial
t$1.50
—
Belden Manufacturing Co.
I
5-25
6-24
(quar.)
Brummel
$1%
;
6-15
6-10
7-
50c
$1.50
$1.75
_______
6- 1
B
Beaunit
;
<
American Hide &
.
6- 5
6- 5
5-19
6-15
1
*$2.50
(quar.)
Oil Co.
2nd preferred
7%
Beau
6-16
6-16
preceding xable.
5-19
7-
—
_______
(quar.)
(quar.)____
Power & Paper,
Class
give the dividends
we
6-24
(quar.)
A
P
1
25c
Seelig Mfg.
Bathurst
announced in previom
and not yet paid. The list does not include divi¬
announced this week, these being given in the
Below
5-15
5-
7-
Co
H.)
Beatty Brothers,
$7
5-26
(W.
Barnsdall
5-20
6-
5-20
$1.75
of
$1.20^class
6-15
1
Banque
Barlow &
*25c
,
6-
$1.50
(quar.)
(quar.)__.
(quar.)
Barber-Ellis of Canada
25c
(Initial quar.)
pfd.
Toronto (quar.)—
Canadienne Nationale- (Montreal)—
Quarterly
:
—
.^Bank
Barber
6-15
6-15
7- 1
7- 1
6-15
$1.75
(quar.)
(quar.)
;___.
Extra
7-28
20c
$1.75
7%
5-15
15c
Bank of Nova Scotia
5-18
$1.1214
$1.1214
$1.75
$1.50
prior preferred
Hydro-Electric 6%
preferred (quar.)
Bank of Montreal
1
.
Bangor
5-15
6-15
6-10
6-20
6-
10c
(quar.)
Petroleum
(quar.)
Bandini
6-20
7-1
5c
preferred
6%
6- 1
6-28
6-28
50c
(quar.)
$6 preferred
7%
$5
6-
6-10
50c
$8.75
5-15
5-15
7-15
7-31
$1.75
common
preferred
7% preferred A (quar)
6% preferred B
(quar.)
Young (L A) Spring & Wire
414%
9
5-29
6-10
7-
(quar.)
;
Newspaper Machinery—
prior preferred (quar.)
7% preferred (quar.)__■____
Worthington Pump & Machinery Corp.—
5-31
$1.75
prior pfd. (payment clears all arrears)
Baltimore Radio Show., Inc.,. common-..
5-10
6- 1
4-28
6- 1
6- 1
$1.183/4
$1.50
preferred
conv.
6-15
5- 1
15c
__
& Lothrop,
' 5-15
3714c
10c
_
(quar.)
preferred
4V4%
prior preferred (quar.)
1
Co.—
Power
(irregular)
Woodward
6
6-10
7-
19 l/10c
(quar.)
participating preferred (quar.)
Telephone Bond & Share—
7% 1st preferred (accum.)
-•-"Texus Gulf Sulphur (quar.)
.__
Utah
53/4%
$3c
514%
U,
7-15
$30c
—_
(Ky.)
Co.
&
Baer
Talcott
U.
8-
15c
(quar.)____,
(s-a)
(quar.)
25c
Oil
Sutherland
United
11-10
6-
Electric
Common
12-
6-15 "
$1
.
(quar.)
Brothers,
conv.
Thew
9-
7-
10c
Corp
Extra
Stedman
Swift
Wisconsin
American
(quar.)___
Gas
Pacific
Standard
Stix
8-10
5
.
1
7-
Corp.—
American
(quar.)________
Co.
G.)
Southern Natural
Southern
6%
5-20
preferred
Weyenberg Shoe Mfg.
Wheatley Mayonnaise
6-
62c
$1.25
(quar.)
preferred (quar.)
preferred (quar.)
7%
Utilities
conv.
5-26
preferred
6%
Western
1
6-10
TOc
25c
$1.3714
(Quebec)
Singer Manufacturing Co.—
Amer. deposit rets, for ordinary regis
Smith (A. O.)
Corporation—
Sontag Chain Stores Co., common
714% preferred (quar.)
Southern Advance Bag & Paper Co.—
$2
1
6-
6-12
Ltd.
Mines,
6-
50c
(s-a)
Shepard-Niles Crane & Hoist
Sherritt Gordon Mines
Sigma
8
American Arch Co
10c
3714c
common
(Frank
6-
6-15
5-26
(extra)
common
class A preferred
Shattuck
Western
30c
25c
(quar.)__—
'514% preferred (quar.)__
;■
Seiberling Rubber Co.—
$214 conv. prior preference (quar.)
5%
6-20
25c
(Jlelena),
Co.,
1
50c
___.
Consolidated Petroleum
Ryan
7-
6%
6- 1 '
7- 1
6-24
20c
87140
Co.
;
Light & Telephone, $1.75 pfd. (s-a)
Virginia Pulp
6-15
(quar.)
A
West
6-15
'
;
Riley Stoker Corp.
Robertson (H H) Co.
Rubinstein
6-20
7-15
8714c
preferred
Richman
1
6-
common
(quar.)
!____
Reliance Insurance Co. (Philadelphia, Pa.)
Rheem Manufacturing Co.
(quar.) _____
'
7%
(s-a)
& Paper
7-
1
5-20
5-20
6- 1
6- 1
$1.50
B/G Foods, Inc., 7%
.■
ol Bee.
Payable
Share
name ot Company
.
r
Axton-Fisher Tobacco,
6-15
'6- 1
5-18
6-15,-'.. 5-25
7-1
6-1
6-10
5-20
6-30
$1.50
guaranteed
7-
6-
:
of Reo.
Jersey & Seashore RR. Co.—
Special
50c
50c
3714c
—
(quar.)
Holder•
When
Payable
$5Cv
$20c
(s-a)
6-30
common
(monthly)
Inc.
Prentice
B
50c
of N. J.,
Raybestos-Manhattan,
Reed
3c
25c
———
,
Corp.
preferred
Pullman,
$$1.3714
(quar.)
preferred
514%
Prudential Investors
:
Co., common
Hydro-Electric Corp.—
participating preferred
80c
West
3
6-
6-10
Ltd.—
Brothers & Co.,
Price
(quar.)
Insurance
Accident
Preferred
Class
5-20
1
6-
75c
$1.50
25c
25c
Grape Juice
Canadian
Allis-Chalmers
:
Mines Ltd
Gold
Exploration
Forgings
Pilgrim
20c
—
Philco
Welch
West
Allied Stores Corp.,
class A (accum.)
—__
Germantown & Norristown
Philadelphia,
5-20
5-20
Corp.—
Trading
&
partic.
Waukesha
5-20
75c
(quar.)__
Water Power, $6 pfd.
Motor Co. (quar.)
-
ehare
,
Baking,
Acme
Electric Switch Co.—
Penn
Washington
5-20
Fibres—
Automotive
National
(quar.)
$6 preferred
Co.,
Power
$1
35c
$1.50
$1.75
25c
Warren
5-26
____$1.27Va
;
$1.37J/2
$1.50
6%
preferred (quar.)
Minneapolis-Honeywell Regulator—
Ward
6-15
5c
20c
$1.25
Relineries, Inc.
_____
Minneapolis Brewing Co. (irreg,)_____
>•
$7 preferred (accum.)
(Northam), $3 preferred (quar.)__
5-22
3c
______
Mid-West
——_v.Per
Name ot Company
ol Reo.
Payable
thare
—/'
-
Hoiaert
When
Per
■
Holuert
wnen
rtT
!
■
$5c
.
(quar.)
V
,
6-
1
$1.50
6-
1
5-11
$1.25
6-
1
5-11
6- 1
5-15
25c
Volume
159
:
Per
Clark Equipment Co.,
common,—..
75c,
■___**
.5%
preferred'
Clayton Silver Mines,,
Cleveland-& Pittsburgh
,
A;,'
Coca-Cola
50c
87*4c
Co.,
A'
Class A' <s-a)__**-_
Plow
Co.
(s-a)_-«__-„-_-l™-^.-';■
VSemi-annual
$1.06(4
Colgate-Palmolive-Peet Co.,'$4.25 pfd. (quar.);
Aikman
&
Corp.,
common
,
Class
B
Carbon
Columbian
(quar.)—
Co.
_l-„——*
Commonwealth Telephone, $5 pfd. (quar.)*
pfd.
8%
Confederation
Amusement
Confederation
Life Assurance
"
Consolidated .Biscuit
Laundries,' com.
40c
"20c
Edison Co.
Consolidated
Consolidated ( Paper
Consolidated ' Vultee
Aircraft
Consumers
Continental
7%
Copper
Co.„
Range
Corrugated
Crane
Paper
Co.,
Creameries
Creole
of
&
Crum
Inc.—
7%
8%
preferred
Extra
10c
10c
Curtis
40c
75c
7% preferred (quar.)*—$1.75
$8 preferred
(accum.)
$2
Dayton Power & Light 4(4% pfd. (quar.),,
$1.12(4
Deere <fe Co., 7%
preferred (quar.)*
35c
Deisel-Wenimer-Gilbert
37 (4c
Cushman's Sons,
•
_
_
Common
1
Common
(quar,)
Common
(quar.)
.
,
preferred (quar.)
preferred (quar.)
*
preferred (quar.)
Derby Oil & Refining—
$4 conv. preferred (accum.)—
Detroit Gasket & Mfg., 6% pfd. (quar.)
Detroit International Bridge
(resumed)——
V7%
7%
7%
'
B
Class
5%
5% preferred (quar.)
Stove
Raynolds Co., class A (quar.),——
(quar.)—
——
Devoe &
preferred (quar.),—L
—
Dewey & Almy Chemical Co., com. (quar.)**
Class B (quar.)
—
—
Diamond Alkali Co.
(quar.)
Diamond Match Co., 6%
(quar.)
Common
•
79c
37V2C
.—_
—
:
25c
Dominion
62V2C
$40c
Oil Fields: (mohthly)—„—^
ft. Anglo Investment Corp. Ltd.—
(interim)
Common
*
——
_
(quar.)—,—
preferred
5%
Dominion
Bridge
8
preferred
(quar.)
Dominion-Scottish
5%
Stores Ltd.
Durez
Plastics
& Chemicals
:
—
(quar.)
Picher Lead, common—
:
6%
preferred
(quar.)
East St. Louis & Interurban Water—
Great
;
'
;
>
Hale
5-12
4%
preferred A (quar.)—_—
,
preferred
$5.50
$6
(quar.)—
(quar,)—*—
(quar.)—_L__
preferred
—
Equity Corp.; $3-conv. preferred (accum.)—
Erie RR,. $5 preferred A (.quar.),
—_
preferred A (quar.)
*
$5 preferred A (quar.)—
85
Faber
Coe
&
Extra
preferred
Watch
5-31
.—
13%c
.
34%c
$1.75
$1.75
$1.75
$50
$1
25c
25c
75c
43%c
50c
$1.50
25c
*
—*
(s-a)
common
'
5-20
Hancock Oil
5-31
60c
Class
5-31
1
7-
1
6-12
Koehring
7-
1
6-12
Kresge
6-10
5-19
.
7%
5-15
preferred
5-15
5-26
50c
6-
1
5-
1st
$1.50
7-
1
6-17
7%
5-12
2nd
$1.7&
8-
1
7-18
Salle
Lake
&
Wines
of
Woods Milling,
the
preferred
5-15
Lake
Shore
9
5-19
Lake
$30c
6-15
5-19
6-15
6-
Lamaque Gold Mines,
Landis Machine, common
6-1
5-20
8
(quar.)
B
——*
5% pfd. (quar.)'
Ltd. (interim)—*.**
1
preferred (quar.)***
-.
(M. A.)
Co., $5 preferred
5-22
.7%
6-15
7%
'
6-15
Common
./
6%
7%
preferred
Co
1
5-15
Lang (John A.) & Sons
7-
1
6-24
Lane
10-
2
1-2-45
12-23
2
.
Laura
5-15
7-
1
6-
6-
9
(quar.)
6-16
1
5-12
6-
1
5-12
6-
1
5-15
5-
Leath &
$2.50
Company, common
preferred (quar.)
D.)
(H.
Lee
Co., Inc.
Ltd.—
Hazel-Atlas Glass Co. (quar.)
Hecht
Hecla
5-10
5-25
6-20
6-10
Mining Co
Hewitt Rubber
;•
Hevden Chemical Corp,
4%
,
common
6-
1
5-15
6-
1
5-15
Life
1
5-15
Liggett & Myers Tobacco, common
'
1
,
5-13
6-
5-
1
6-19
*6- 3
6-30
6- 1
6-12
5-16
6^ 1
7-15
7-15
.4(4%
5-17*
Horn
7%
Horn
6-1
7-1
7-1
$1.50
7- 1
75c
6- 1
$1.25
$1.25
$1.25
6- 1
9- 1
12- 1
5-15
1
5-15
6-
10-
5
5-13
5-25
5-15*
1
6-16*
7-
1
6-
7-15
6-16
5-31
6-1
5-22
1
5-22
5-26
^*_
.
6-20
1
5-17
6-15
5-10
40c
$1.06(4
35c
$1.12(4
5-31
5-
5
6-30
6-
2
6-20
6-
8
6-30
6-20
(quar.)**
8%c
6-
1
5-15
45c
$1.25
6-
1
5-15
Lighting & Power
Bay Mining
Motor
far
30c
f$l
(monthly)****—
& Smelting—
Co
10c
$1.50
15c
$1.50
$1.75
68%c
$1.75
$1.75
$1.75
I
—
Idaho Power,
1
common
40c
1
5-19
6-10
5-20
6-26
5-26
6-
1
5-17
6-
1
5-16
6-
1
5-20
6-
1
5-11
6-
1
5-11
fi-30
6-20
6-30
6-20
9-30
9-20
Leased
4%
Lines,
50c
$7(40
15c
6- 1
6-28
5-29
5-15
Illinois Power,
6- 8
5-15
Illinois Zinc Co.
3c
10-1
,
-
(s-a)
gtd.
Commerc'l Tele.
5%
preferred (accum.)
Ordinary shares
Industries
(final)
;
'
6-14
9-14
50c
6-15
5-31
50c
6-15
5-20
6-
5-11
$1.75
6-10
50c
6-
1
5-
75c
6-
1
5-12
75C
6-
1
5-12
1
30c
8-
1
7-26
11-
1
10-26
6-
1
5-23
6-
1
5-23
5-
6
.' 6-
1
5-
6
7-
1
6-15
20c
5-31
5-10
25c
6-
1
5-15
$1.12*4
8-
1
7-15
5-22
5-25
50c
6-10
50c
9-
9
8-25
50c
12-
9
11-25
$1.10
5-25
6-10
$1.10
9-
9
8-25
$1.10
12-
9
11-25
$25c
6-
1
5-
2
c
6-
1
5-
2
425c
6-
1
5-
2
6-
1
5-
2
(monthly) _*—
—
—
(quar.)———*/—*—
preferred (quar.)****.
—
Long Bell Lumber (Maryland) (resumed)***
Long Bell Lumber (Missouri) (initial)
Longhorn Portland Cement—
5% preferred (quar.)—
—*
Participating
—
5% preferred (quar.)
———
Participating
—
5% preferred (quar.)*———
—
Participating
!
———
Lord & Taylor, 6% 1st preferred (quar.)***
Ludlow Mfg.
& Sales—
*
Lunkenheimer Co., 614% preferred (quar.)*
$1
6-30
6-20
Common
8% preferred
8%
preferred (quar.)
preferred (quar.)
6(4%
6(4%
—
Lynchburg & Abingdon Telegraph Co.
M. J. & M. M. Consolidated
(s-a)
(s-a)_
—*
—
(quar.)
*•—,
6- 1
6-1
5-20
5-12
MacLaren
Mines,
Power
—
Madison
5*
Madsen Red
10c
1
5-12
10c
6-
1
5-
$1.25
6-
1
5-20
5-20
4
25c
6-
1
$1.25
9-
1
25c
9-
1
8-21
$1.25
12-
1
11-20
25c
12-
1
11-20
$1.50
6-
1
5-17
$1.50
8-21
6-15
6-
$1.62*4
7-
1
6-20
10-
2
9-20
1-2-45
12-20
$1.62*4
$3
7-
1
*/4C
6-15
43 %C
6-15
5-
5-31
43 %c
3
8-31
5
11-30
5-
1
$1
7-15
7-
3
$5c
6-15
5-15
$55*40'
6-
1
25c
5-25
5-15
$25c
5-31
5-13
25c
*—
(interim)
(I.) Co., 6% preferred
preferred (quar.)
Magnin
9-20
6-
5-29
5-15
Ac
5-27
$1.50
8-15
8-
4
$1.50
11-15
11-
3
—
Paper
Square Garden
Lake Gold Mines
1
6%
&
6-21
7-1
10-1
43%C
—
preferred (quar.)
7%
(quar.)
McClatchy Newspaper,
preferred
preferred
$2
$2
$1.62*4
6-10
4-21
5-26
25c
$1.62*4
Mclntyre Porcupine Mines, Ltd.*
McKesson & Robbins, $4 preferred (quar.)**
Ltd.—
1
5-21
7%
7- 8
1
2
8-
50c
(quar.)—*;—_*_*__**——
B
5-22
5%
7-14
7-
10-
5-31
7%
5-
1
$1
25c
10c
*—.*;
preferred (quar.)
(increased) (quar.)
Ltd.
Mackintosh-Hempbill Co.
25c
6-15
5-20
$1
4-25
5-
1
5
$1.75
(quar.)
(quar.)
85c
(irregular)
Chemical
common
$1.50
$1
pfd. (quar.)
6-15
1
76-
30c
Corp.
Macassa
;
Municipal Water, 6%
7-
IOC
25c
(monthly)——_
12-20
7-1
$1.12*4
9
30c
Lock Joint Pipe, common
5-20
(Madison, Wise.)—
$6 preferred
Imperial
$2
*
1
9
5-
$12 (4c
12-30
Illinois Central RR. Co.—
Illinois
55-
1
$12 (4
6-
6-
1
1
———————
Liquid Carbonic Corp., common (quar.)*.
454% preferred A (quar.)*——*.
Little Miami RR., special stock (quar.)
Class
.
prior partic. pfd.
6-
6-
(Ft. Wayne)—
5-16
6-30
6-
5-19
6-
(quar.)**
Special stock (quar.)
*_*__*—
——
Special stock (quar.)
—******
$3.30 original stock
——
$3.30 original stock**.—*
——.—.*
$3.30 original stock
—
Loblaw Groceterias, Ltd., class A (quar.)***
5-16
6-15
5-21
25c
——-
——
*^
preferred
6*4%
Lionel
1
5-20
5-19
$20c
—*_—*
Lindsay Light' & Chemical—**—
Link Belt Co., common (quar.)
partic. preferred (quar.)
& Hardnrt Co, (N. Y.), 5% pfd. (quar.)
non-cum.
Illinois
9-16
1
6-
6-15
Corp.:—
Stores,
5-12
5-21
—
7-18
Corp.,'6% pfd. (quar.)
Hunt Packing Co. of Del., 6% pfd. (quar.)*
Huntington Water, 6% preferred (quar.)—
7% preferred (quar.)
:*.
Hussman-iLigonier, 5(4% preferred (quar.)
Huttig Sash & Door Co., 7% pfd, (quar.)—
7% preferred (quar.J*
:
7% preferred (quar.)*
5-17
8-17
11-16
6-
7%
5-12
5-25
50c
50c
__**_*_*_**—*—*——
(quar.)
B
Lincoln
6
5-15
non-cum.
Hudson
6-14
6-14
6-14
5-15
7-
1
Hummel-Ross Fibre
6-22
7- 1
7- 1
(quar.)__„
(quar.
'
Hudson
5-20
6-22
$1.25
$1.37(4
(A. C.)—
Houston
6-30*
6-30*
$1
35c
6%
.
common
preferred
5-11
1
7-31
30c
37(4c
1
,
7-28
Ltd.**—
Electrochemical, common (quar.) „_
$4.25 preferred (quar.)
*—*
—
Hoover Co.,
Savers
Class
6-
-
Hooker
5-10
60c
Oil
6-
7-20
6-15
15c
6-
.
Co.
Lincoln National Life Insurance
$15c
(Charles E.) Co. (quar.)
Hobart Manufacturing, class A (quar.)
Home
(
—
Hires
'
Electric
Salt
9
15c
15c
preferred A' (quar.)*
Hibbard, Spencer, Bartlett & Co. (monthly)*
Monthly:- —_**i*_—_*—'__*_*_*:
—**—_.;/
> Monthly
*—
:
_*—_*—'
.
4% preferred (quar.)—
Leslie
5-13
6-1
6-
50c
30c
25c
25c
20c
$1
.
6-10
$1
5-15
—
3
Portland Cement, common (quar.) —
preferred (quar.)—*********
.**—:;
4%
1
—
(quaPJ.—*—*•
Corp.
7-
—
6-
(initial)———————
Company
5-24
25c
(quar.)—*****——
Lexington Water, 7% preferred (quar.) —
Libbey-Owens-Ford Glass Co.**—*———
Hazeltine 'Corp.*———
5-20
6-15
1
62 (4 c
(quar.)**.
Leland
$1.25
5
25c
—
5-19
$1.25
Hawaiian Pineapple
5-15
12-
Lehigh
.
8
Quarterly
4-29
5-17
12-15
Shops
5-10
$1.12(4
50c
$2
3c
40c
50c
5
$1.75
(quar.)*——
(quar.)——_*
preferred (quar.)
convertible
$4.50
5-17
25c
87(4c
5-15
,6-30
5
9-
(R. G.), common
1
25c
$1.50
4
9-15
:
1
(quar.)
5
6-
$1.75
,
Machine*
Candy
4-30
8.-
'
Secord
1
6-15
$17(4c
■
Le Tourneau
9
1
6-30
6-
Extra
6-,
$1.75
(quar. )__„**_—**„**—
Monotype
5-15
11-
50c
Lanston
1
8-15
■
6-
6-
11-15
9-25
Bryant, Inc.
5-15
25C
—————
1
preferred
4
6-15
25C
50c
(quar.)—*——__*————
Harshaw Chemical. 4(4%
pfd. (quar.)
Hart-Carter, $2 conv. preferred-(quar.)*—
Hartman Tobacco, $4 prior pref. (accum.)—
Harvill Corp,, 6% preferred————
Hawaii Canneries Co., Ltd. (irreg.)——
6-10
5-
...
$7c
(quar.)————
(quar.)—**——„—.****
preferred
Lane-Wells
Harbison-Walker Refractories Co.—
5-12
1
(quar.)
6-
(quar.)—
4.
6-
(quar.) : *_i.**——*——**—
preferred: (quar.)
—*
6-
.*
5-
Common
:
10c
(quar.)
1
$1.25
Superior Dist. Power,
Mines
5-10
6-
$$1.75
$20c
(quar.)*
1
6-
5-22
50e
(quar.)—
com.
5
6-15
7'4 c
Champagne*——*—
6-
1
9
6%
6-
7-
5-20
1
5-31
6-12
La
5-29
6-
Grocery & Baking,
Kroger
!
1
6-
5-15
50c
6-
6-30
4-30
5-20
5-25
$1.75
5-15
6-
5-20
5-29
25c
Co.
(S. S.)
6-15
1
5-10
6-20
1
(quar.i
Company
6-
*_.
Hanna
9
5-12
.
—*—L
(quar.)*_**_
(quar.)
1
5-25
7-
4c
6-15
7-
5-10
5-
15c
*—
common (quar.)*
preferred (quar.)—
preferred (quar.)*—**_i.**_—*
Kuppenheimer (B.) & Co. (s-a)_**_********-
1
5-10
10c
—
common**
5-29
7-
1
5-20
25c
5-15
6-19
6-
V
1
$1.50
6-15
1
6-
$1.75
6-10
6-
5
6-15
$1.50
(accum.)
$1.50
Hanley (James), common*——^
8-11
•.
Co.,
7%
5
_—**——'
$5c
$22(4c
*—
5-25'
.
preferred
Kobacker Stores,
6-10
7,
prior pfd.
extra:
Fund,
Creamery
9-
12-
6-15
$1.46
50c
1
(quar.)
Co., class A (quar.)
Extra
-
(quar.)
Ltd. (quar.)
6% pfd.
Co.,
5-12
Knickerbocker
Knudsen
9-15
12-15
;
(G. R.) Co., $5
Emil)
Co
5-18
3
15c
(quar.)*—*
(D.
5-16
6-
87 (4 c
Utilities Co.—
Junior preferred
7%
9-15
I
6-15
15c
.
.
Kentucky
1
6-
$1.25
:
'
5-12
(irreg.)—
Mines, Ltd.
5-15.
5-12
(semi-annual),*:
7-10
6
7-18
1
10-
15c
6-
Cotton,
Hamilton
6- 1
(quar.)
5-11
5-25
6-
6-10
$2.95
Co., $6 partic. pfd, class A (quar.)*
Pafticipating *:*u****——u-**—*.***/
5-10
6-15
1
1
8-
50c
Kendall
Brewery—
common
6- 1
6-1
Falstaff Brewing Corp., common
6%
Corp.,
25c
Fajardo Sugar Co. of Porto Rico (quar.)—*
Falconbridge Nickel Mines', (interim)
5-10
1
preferred (quar.)**.
Stores (quar.)
50c
25c
—
5-25
6-
Brothers
—
& Co.
*
:
(quar.)
common
—
(quar.)„_—*„
(quar.;),
T_„—-
Gregg
Fairbanks Morse
5-15
5-22
(quar.)*
A
Hamilton
5-25
$1.75
25c
70c
€0c
1
6-10
$15c
25c
10c
15c
40c;
$1
•
25c
—.—
preferred—
(quar.)*—*—:—
Water,
Hallnor
56(40
guaranteed (quar.):
—
;
Emporium Capwell, common (quar.),*—
,
Works (quar.)—
Engineering
(quar.)
5-20
25c
:
5-12
7%
*
(Del.),
Western
5-20
Empire & Bay State Telephone—■
4V2%
—
(irregular)
**—___„^
(N. Y.)
Corp.
8-5
6-15
National Watch—_—
—
Natural Gas, common (quar.),.
preferred (quar.)—,
——_
Ely & Walker Dry Goods, common (initial)
7% 1st preferred (initial s-a)!-..———
6%'2nd preferred (initial s-a)—_—
6-15
8-1
7-
$1.06(4
(quar.)
9
6-15
6-20
25c
Vegetable Parchment Co.
9
6-
1
6-
$1.50
Quarterly.
—
;_*—*__—:
Quarterly
—*
—
—
Kaufmann Department Stores, 5% pfd—*
Keith-Albee-Orpheum, 7% preferred—*—**
5
6-
4-28
7-
$1.25
(quar.)
6-
5-25
25c
Paper
■
preferred
6%
5-13
5-11
Paso
5-15
$1.50
50c
40c
30c
56(4c
5c
25c
50c
$1.25
50c
—
(s-a)
Co.
preferred
Hajoca
5-18
5-15
7%.
1
1
5-26
$2.50
Corp., Class A (s-a)
6-20
$1.50
Co
Special,
7%
..
75c
Kalamazoo
6-
Kinney
$6 pfd. (accum.)
(quar.)
Lakes Engineering
Hackensack
7- 3
Co
5-20
Klein
1 Oil Corp
9-30
6- 1
:
5-20
1
conv.
Aircraft
5-25
6-15
'
1
1
pfd.
44/lOOOs of a share
$6
*
Grumman
12-23
6-10
7- 1
'
;
:—
Corp.
(quar.)———*:;"
(interim)__:—
preferred (quar.)***—
Ltd.
Co.,
Union
Gulf Oil Corp.
1
.6-1
Engineers Public Service, $5 pfd.
(H. W.)
5-20
6-
7-
$2c
preferred (quar,)——**_*__**_*
Joseph & Feiss Co
Kalamazoo Allegan & Grand Rapids RR. (s-a)
6-
11-10
1
$1.50
preferred (quar.)—_*rf
Knitting Mills, 5% pfd. (quar.)
6-
8-10
1
*
1st
Co., common
1
7-
*
v—
(Interim)
4)4%
75c
—„—
(qUar.)
(quar.)*
9-
12-
50c
:—:**_**—i*'*•.
common
(N. Y.) Tel.
Tea
5-19
1
30c
preferred
$6
$1.25
common
(N. Y.)
Group No.
8-15
11-15
$25c
Ltd.—
Elgin
V
:*
(s-a)—
preferred (quar.)
7% preferred (quar.)*
preferred (quar.)
_*_
7% preferred (quar.)—
rl% preferred (guar.)—$1.75
Steel Products, Ltd. (quax.)„—$25c
El
$1-75
25c
30c
6-
5 (4 % -conv.
5-15
6-15
Eastern
Manufacturing
—
Griggs Cooper & Co,,
6-10
5-11
Eaton
—*
*
6-15
9-15
6-
30c
Creek Coal Co.,
Island
5-16
1
6-
common
Griesedieck
5-19
5-23
-
,
preferred (quar.)—;.—
Washing Machine,
50c
$1.12(4
40c
$1.12(4
75c
30c
25c
held—*—
convertible
5(4%
6- 1
Easy
Co.,
Greyhound
$1.50
6%
9-15
Great American Indemnity
.5-15
6- 1
6-20
"7- 1
6-20
6-10
——
Eagle
<
(quar.)*
Great Northern Ry. Co.,
15c
$1.50
(quar.)—
(quar.)
Bradstreet, Inc.
2
Fireman
Jewel
Great- Northern
50c
——
Corporation, 6% preferred
Dresser Manufacturing Co.—:
&
10-
7-15
10-16
30c
Quarterly
Quarterly
1
C.) Co
(A.
Power
1
$10c
75c
$1
37!/aC
$75c
—
(quar.)—
Drayo
Dun
6-15
$75c
$75c
(quar.)*———
(quar.)—
preferred
preferred
Mfg. (quar.)
6-
Cash or
share
each
Grand
5-20
6- 1
$87'/2C
Iron
5-27
5-15
1
.'.■■■
'
Investments—
(accum.):
preferred
Dominion
„
convertible
6%
preferred (quar.)
Shareholdings
Gossard
Dominion- Envelope & Carton—
1%
convertible
:6%
Jantzen
(quar.)
—*
Goodyear Tire'& Rubber Co., common
$5 convertible preferred (quar.)
Gorham Manufacturing Co.
5-15
5-23
$30c
r.
6%
5-27
1
Cycle Corp.
5-15
6- 1
$$1.25
—
(quar.)j;_
Co.
5-15
6-17
1
6-9
'
5-15
1
Corp.,
Brewing Co.
6-
1
6-
5-10
6- 1
25c
$2
,
—
Dominguez
Motors
Golden
5-15
6-23
6- 1
fi- 1
7- 1
7-29
5-31
$$4.50
Dictaphone Corp., common
1
8% preferred (quar.)
Dixie Cup Co., class A (quar.)
Dome Mines, Ltd.^
5-15
7-
(s-a) ———' /
preferred B
4(4%
11-15
6- 8
25c
(quar.)_
Diamond T Motor Car
1
Granby Consolidated Mining Smelting &
9- 1
6- 1
;•
6-
Corp. (quar.)*—
Investment Foundation, Ltd.—
6-
common
Goebel
7-
5-17
25c
'
Intertype
6-15
(s-a)
Glen Falls Insurance
6-19
6-15
6-15
50c
„
partic. pfd. (s-a)__
—
5-15
6-15
Corp.
Corp.
5-13
6- 1
6- 1
6-12
8-15
6- 1
6- 1
6- 1
$6
30c
25c
50c
25c
25c
$1-25
25c
25c
•
Detroit-Michigan
America
5-31*
1
1
1
1
9-30
12-23
1
(s-a)„_*——
Co
(quar.)25c
common
Gilbert
6-22
69127-
75c
75c
75c
$1.75
$1.75
$1.75
Silver
1
6-17
7%
*
6-
International
Jamestown
General Steel Casting Corp.,
New York—
(quar.)
Trailer,
Bronze
Glidden
6-24
——
—
Dentist's Supply Co. of
Brewing
5-15-
6-
5-15
75c
9
1
Brewing, Co.
6-10
6-15
5-31
7- 1
6- 1
6-16- 1
6- 1
I
6-
preferred (quar.)——*Finance Corp., 5% pfd. A
for
1
8-15
$1.12*4
4*4%' preferred (quar.)
—
Mfg. Co. (Mo.) (irregular)
Publishing, prior preferred (quar.)—
Curtis
Luxe
(optional).
1
1
5-15
-
—
„—
Press;
6-
6-15
(quar.)—i
4(4% convertible preferred (initial quar.)*
$5
8-25
5-25
11-25
5-19
25c
Ltd.
Island Mountain Mines, Ltd.
General
5-31
6-30
„—
Extra
**_—
(Peter)
6-16
10c
(quar.)
.*.
1
—
Sugar, 5*4 % preferred—.■*
Culver & Port Clinton RR. (semi-annual)—
1
De
Fox
7%
$1.75
$1.37 V2
preferred
Cuneo
Fox
Corp.—
Cuban-American
5-31
1
1
General
5-
7-10
6-
6-
■'6 %
(quar.)—
Shares
Insurance
6-10
$50c
5-29
6-16
(interim),—
Pass Ccal
5- 5
7- 3
$30c
7-10
6-15
General
7- 1
6-15
6- 1
6- 2
6-30
1
6-30
6-10
5-15
$1.50
56(4c
$1.25
$$1.50
$2
5-31
6-
$1.75
$40c
50c
6-1
6-30
6-30
6- 5
6- 1
6-24
6-15
6-30
6-10
_
6-12
Canada——
of
Co.
12(4c
*:—*_4*—2(4c
Co. of Michigan—
12(4c
5-15
—
5-23
30c
1
6-
6-
(irreg.)—
6- 1
.
6-15
$1.50
8-1
International Products Corp.—*
6-13
of Indiana——
Brewing Co;
30c
6-
Nickel
6-
•
6-
6-15
6-10
8-
9
37(iac
(quar.).;:
Co., com.
Drive
Auto
Luxe
(quar.)
Corp.
Forster
De
General Cigar Co.,
5-
4-30
$$1.50
6-15
Wheel
Four
5-12
1
7-15
$$1.50
6-
25c
37(4c
6-
8
(quar.)**—*—**—*
preference
6-
;
,
5-25*
•
.
Crum & Forster,
preferred
prior
6%
Works**—,,***_**——*
prior pfd. (quar.)——
5-12
7-15
—*,**_—
International Petroleum,
1
5-
1
(quar,)*——;
6-15
\ $25c
__*___*,
Bridge
Wheeler, 6%
General
(irregular)
-.
Crompton & Knowles Loom Works—
6%
preferred
(quar.)—
Crown Cork & Seal Co., $2.25 pfd. (quar.)—
Crown Zeilerbach Corp., $5 conv. pfd. (quar.),
Crows Nest
B
Pitt
General
i—
America
Class
Foster
5
(quar.)—
Petroleum
:17o
Ford
Power
6-15
Co., 7% pfd. (quar.)_
Box
preferred
(interim):
preference A
conv.
conv.
6-15
25c
15c
$1.12(4
87(4c
$1.75
6%
$25c
*_4*4.*4**„i-;
A
5-20
6-
—■;
common
(quar.)———**—
Corp., 7% preferred—*——
preferred A (quar.)*,
:—*
Motor Co., Ltd., ordinary (annual)*—
Motor Co. of Canada, Class A,—_
Ford
-
■
Co.,
4-28'
common
preferred
5%
Quarterly'"
6-30
6-15
—
6-
class
International
5-31
5-20
$1.75
25c
75c
50c
$$1.75
25c
$1,25
12*4c;
50c
-Common
15c
(quar.)____*_*
& Dock—
Co. Stores
H.)
6-15
6-
Ltd.'—
International Metal Industries,
6%
5-20
1
$20c
Cigar Machinery (quar,)*
International Harvester, 7% pfd. (quar.)*—
5-15
1
6-
1
1
G-
$37y2c
(quar.) '
6%
1
(M.
50c
25c
i
(accum.)
preferred
Aviation Group Shares (s-a)——
Bronze Powders, com.
5
6-
7-
$1.50
Securities—
6-23
Preferred
5-20
5-19
$1
5-15
Flintkote
-
5-19
1
:
6-30
1
5
1
6-
50C
Co.
$1.00
Fruehauf
Cooper-Bessemer Corp., common
! $3 prior preferred (quar.)
Steel
5
—1,
Casualty Co. (Chicago)
Continental Commercial Corp.—
7-10
Co.
Fishman
5-15'
6-
$1
6-
Fox
5-
5-20
12 (4 c
5-18
30c
6-15
5-15.
6-
1
International
Florida
6-15
6- 1
6-
*—__
2
$50c "*
25c
Continental
Institutional
Fitz Simons & Connell Dredge
-
$37 (4 c
(accum.)
*
5
6-12
<interim)
Co.
Can
5-15*
6-
5-20
*
6-
•Fort
5-
Inland
Quarterly
6-
5-19
(quar.)**
8-11
25c
15c
6-27
.-.
(Chic.)
Continental Assurance Co.
8-15
Corp.—^—
6-1
(quar.)—
Ltd.
Glass,
Container Corp. of America
Ingersoll-Rand Co.
$1.75
50c
-
5-18
7-15
1
1
Indianapolis Public Welfare Loan Assn—
International
3IV4C
———
Paper (quar.)*
1
$$1.50
Freeport Sulphur, common (quar.)
4(4% convertible preferred (quar.)**—:L\
iquar.)*—
Water Power &
Industrial Brownhoist, 60c pfd.
Quarterly
$1.25
Corp.,*
6-10
of Amer. at Balt„~cl. A (quar.)'
'fquar.'-)——***—_*——,*_„—*_**.: 15c
Firestone Tire & Rubber, 4(4 % pfd. (quar.)
$1.12(4
First National Bank of N. J. (Jersey City)—•
6-23
.
\
25c
(quar.)————:
^'convertible preferred
Consolidated
(irregular),—
6-10
Class B
6-1
10c "
(quar;):,——
of New York Inc.—
Consolidated
6-15
6-30
6-30
6-20
5-5
5- 5
5-15 '
6- 1
(quar.).—-$1.50
preferred
•
6-26
75c
25c
6-15
6-
(quar.)
6-15
Finance
9-25
12-254
6- 1
'
50c
25c
1
5-15
$12'4c
participating preferred (quar.)*
*
Int'l Business Machines Corp. (quar.)_*_—_
FCrro -Enamel
\ 6-25
6- 1
56(4c
Co.—
Connecticut River Power
6%
6-1
6-1
55c60c
9-16
6-
6-30
partic. preferred (quar.)**__*
Indiana Steel Products Co., common..
*
/
6-16
$1.50
30c
of Rec.
6-
tlOc
conv.
Preferred
Holdert
*25c
*——
(interim)
Imperial Varnish & Color, Ltd., com. (quar.)
1
•
5-19
5-15'
5-15 *
5-15-
Payable
30C
Imperial Oil, Ltd. (#a)_*—
Imperial Tobacco of Canada, ord.
1
6-
When
thare
Company
7-
*
Federal; Fire Insurance (Canada)-(s-a)—*—
Federal Light & Traction, $6 pfd.
(quar.)**
Federal-MoguMCorp. (increased) ___*_——
Fenton United Cleaning & Dyeing—
7%
preferred (quar.)———,*——**
5-19
''
6-30
9-30
12-31
6-15
—
Congoleura-Nairn
Connecticut' Light'& Power— •
$2.20 preferred (quar.)*!********———
$2.40 preferred (quar.),/.—.—.
*—
Connecticut Power Co; (quar.)j*-_*i_
•
•
(irregular)
Name of
10-
common (quar.)*
(s-a)^—__*_*-—
■Federal'Compress & Warehouse (quar.)*___
$4(4
—
_
'
12-30
4
$1.50
"5^ preferred
(Toronto)—
$$1.50
t$1.50
$$1.50
(quar.)*L;.;ii^*-;***_i'
25c
1
Quarterly
Quarterly
t$3
6-15
9-15
12-15
Federal Bake Shops,
5-19
5-19
4-26
5-10
5*15
5-19
•
6-10
6-12
6- 1
6-15
(s-a)_—
6-30
9-30
$1.25
$1.25
$1.25
$2.50
—*-JH——$2.50
(quar.)
Rubber
Faultless
6
* 6-
Y.)
Quarterly
5-10
'
6- 2
$1
$3c
$1.25
——
Commands Oils, Ltd._J
Quarterly
6- 1
6- 1
5-26
5.-27
6-1
6- 2
40c
.1
;__*_*__
N.
5-10'
6-30
25c
5% convertible preferred
(quar.K'_iiUw-._$1.25
Colonial Steamships (irreg.)_-_4——-__$3
Colorado Fuel & Iron Corp; (quar.25c : :;
Colorado Milling & Elevator, $3 pfd. (quar.)
75c
Columbia Broadcasting, class A-i£.___-_—11. '
40c
Collins
of Re0.
.
•
5*26 • 5-11 •75c - 7- 1.,.. 6-.12 r
S1.50
7- 1 ,V 6-12
$5;60- • .17-1'
6-12 '
$3
:' 7- 1 ■
6-12
$25c
6-1
5-15
125c
12- 1
11- 2 u
•
(s-a)___
Cockshutt
...
Per
When
Payable
Fansteel.Metallurgical Corp., $5 pfd. (quar.)
$5 -preferred (quar.)—1—*_—
*—
$5 preferred (quar.)
Farmers & Traders Life Insurance (Syracuse,
.5-26.,
5-26 '
5-15
-
37l4c
Co._i.'i_™i—.—*_'„*:;:-*_.
common**---**u*:.___***i*.:-.
-1—'
1
*___—1
Coca-Cola International Corp., com. tirreg.) :
Class
$1.25.
l*4c •
,fJ Name of Company
of Ree.
.6-15
6-15,
7-10
X
6-1
6- 1
,.
Co'.--v.;.
RR.
/Special guaranteed (quar. )*___*****,.****
Regular'stock (quar,)____*—i.***^:*****—
Cleveland * Tractor
Payable
Holdert
»»«r
thare
Holdert
When
'.
share
Name of Company
2119
FINANCIAL CHRONICLE
THE COMMERCIAL &
Number -4283
■
(quar.)—*
4-27
Manhattan
Shirt
__________
6-
1
5-11
6-
6
5-22
(final)
6-10
5-15
25c
Masonite
,
Corp., common (quar.)__™—^
4Va % preferred
(quar.)
_
May Department Stores
!
May McEwcn Kaiser (quar.)_
$1.12'/a
6-
1
5-15
75c
6-
3
5-15
—
5-22
5-12
5-22
6-15
6-10
6-30
7- 1
7-1
5-12
Corporation, common___
$6 preferred A (quar,)____
1
5-22
$6
6-
9.
5-19
$6
6-
1
5-15 1
___
___
stock
Mercantile
6-
1
7-
1
6-15
of California—
sh,
Pacific
of
each
for
1
Light, 6% pfd. (quar.)
$$1.50
(quar.)_—
—7tec
$25c
$$1.75
7-1
6- 1
5-26
25c
25c
6-15
6-15
6- 1
6-30
6-30
5-23
6-1
8-15
8-15
6-20
6-20
10-15
7- 1
7- 1
5-25
6- 1
6- 5
5-29
5-13
6-1
7- 1
5-20
Sherman
6-12
Sherwin-Williams
5-25
6- 1
6- 1
6- 1
5-15
' 6- 1
6- 1
5-20
Sixth
5-31
6-15
5-11
Solar
5-31
Sonotone
5-31
6-30
6-17
Northland Greyhound
1st preferred (s-a)__-
6-30
6-14
Northern Liberties Gas
ate %
7%
preferred
River
(quar.)_
RR.
Insurance
Water
5-15
Northwest
10c
6-
1
5-20
1
5-20
—
(quar.)
Lines, $6.50 pfd. (quar.)
(s-a)
—
(quar.)
$4 pr. pfd.
Co.,
Northwestern Public
6-
77,
6-
10c
$1.75
V
6-
6-30
1
Scotia Power &
Nova
Nu-Enamel
Corp.
$1.50
7-
17
6-
1
$1.75
7-
1
6-
1
Ohio
$1.50
7-
1
6-
1
$1.75
preferred (quar.)
(quar.)_
Ogilvie Flour Mills, common (quar.)__—__
7%
preferred (quar.)___________________
7-
1
6-
1
7-
$1.25
(quar.) —
$5 preferred
—
(quar.)
——
$7 prior preferred (quar,)————
Michigan Public Service, common (quar.)—
6% preferred (quar,)———_—
6% preferred (series 1940) (quar.)—___
$6 junior preferred (quar.)-,.——-——
7%
preferred (quar.)—
—
Mickelberry's Pood Products (s-a
prior preferred
6-
1
1
Oil
Extra
(s-a)
______________
—_______—_
_________—_____
Ohio Power,
25c
6-
1
5-15
Ohio
$1.50
7-
1
6-15
Oklahoma
$1.50
7-
1
6-15
Oliver
$1.50
7-
1
6-15
4te% preferred (quar.)________
Service, class A___.
_____—.
Water
Natural
Gas,
Midland
Mitchell
Mobile
$4.50 preferred B
$4
preferred C
Montreal
7 %
Loan
Montreal
Diablo
6-15
5-15
Package Machinery
6-12
6-
2
Paramount Pictures
9-12
9-
2
Parker
6-10
5-25
6-
1
6-
1
Pato
Paton
Manufacturing Co., Ltd., common
1
5-15
6-
1
5-19
6-
9
5-25
Peck Stow &■ Wilcox Co._
6-
1
5-22
Peninsular
7 %
$$1.75
preferred
Telephone,
1
5-26
6-
1
5-10
$2.25
6-
1
5-10
6-
1
5-10
$1.40
A
(quar.)
1
5-10
6-15
5-16
6-15
5-16
State Water,
Peoples Gas Light & Coke^
6-15
5-31
Perkins Machine & Gear Co.,
$1.50
6-10
5-29
Peter
$1.50
5-15
4-27
25c
5-31
5-17
Pfaudler
5-26
Pfizer
——i—
Machine
(quar.)
6-10
30c
;
1.
6-12
20C
v
5-15
5-15
1
5-13
6-
6-15
$2
6-
(Charles)
1
$2
6-
1
5-15
6-
1
5-20
Phillips Petroleum
Pillsbury
50c
6-
1
5-15
$1.50
'
6-
1
5-15
Mills
Flour
$1.50
6-28
6-15
American shares
—
—
$1.50
9-28
9-21
Piper Aircraft Corp.,
$1.50
12-28
12-21
1
5-10
Acme
6-
$1
5-23
50c
1
5-
Automotive
convertible
National
7%
Fibres,
preferred
Bearing
Metals,
Biscuit
Co.,
15c
Common
(quar.)__
City Lines, common
Container
National
Cylinder
Dairy Products
(quar.
Electric Welding Machine (quar.)_
Quarterly
National Gypsum Co., $4.50 pfd. (quar.)
7%
preferred
life &
National
Oats Co,, 5% preferred
Rubber Machinery.—
National
Nebraska
7%
preferred (s-ai
(J. J.), common
.
6-
1
5-13
1
5-13
6-
1
5-13
7-
1
6%
6-16
1
5-16
6-10
5-19
Park
4c
6-
1
5-15
40c
6-
1
5-15
50c
6-
1
5-15
preferred (quar.)———_—.—_
6%
preferred (monthly)
—_
7%
preferred (quar.)
:___———
8% preferred (quar.) _—
Public Service Electric & Gas, $5 pfd. (quar.)
Newport
Mining
Electric
Newport
News
$5
Co.
(irreg.)____________
'
.___
Shipbuilding
&
Dry
Brake
York
Air
New
York
Central
New York & Queens Electric
Y.
(quarJ
preferred
Agricultural
pfd.
$1.25
(quar.)
6-
1
5-
5
$1.27te
6-
1
5-
5
Aviation
5-25
5-
5-25
5-
5
12c
5-25
5-
5
33c
_
Stock
5
14c
Industry Series
Industry Series____
-5-25
5-
5
5
5
Series
13c
5-25
5-
Building Supply Industry Series
10c
5-25
5-
Business
22c
5-25
5-
5-25
5-
5
13c
5-25
5-
5
20c
5-25
5-
5
16c
5-25
5-
5
Chemical
Equipment Industry Series
Industry Series
:
Electrical
Food
Equipment Industry Series_____
Industry Series.
Insurance
Stock
Series
;
Machinery Industry Series
Merchandising Series
20c
5-25
5-
19c
5-25
5-
5
Metals
20c
5-25
5-
$1.60
10c
5-25
5-
Reliance
Stock
Industry Series.
Public
Utility Industry Series__,
Railroad
10c
5-
5-25
5-
5
15c
Eauipment Industry Series
Steel Industry Series__
5-25
15c
Series
Railroad
5-25
5-
5
18c
*
6%
5-25
-5-
5
5
Common
.
Common
Brothers, common
(irregular)
(irregular)
Industry Series.
;
25c
5-25
5-
5
4-19
6-
1
6-
r
6-
1
5-18
5-10
—
5-31
$1.25
7-15
6-30
preferred (quar.)
Standard Stoker Co, (irregular)—Standard Wholesale Phosphate & Acid Wks.—
$1.0SJ/4
50c
7-15
6-1
6-30
5%
preferred
com.
40c
__
——_
:
(quar.)
convertible
4 te %
—
77- 80C:
pfd. (quar.|)
$1.25
5% preferred (quar.)
y__
$1.25
5% preferred (quar.)_—$1.25
Sterling Drug, Inc
75c
Stewart-Warner Corp. (s-a)
' 7
25c
7.
Special
——7—25c
Strawbridge & Clothier—
6% prior preferred A (quar.)
$1.50
Stonega Coke & Coal—.—————_7—$1
Storkline Furniture (quar.)—.—__
12tec
Extra
12 tec
Irregular
Stecher-Traung Lithograph, 5%
_
5-19
6-
6-15
6-30
9-30
12-30
6- 1
6- 1
6- 1
6
6-15
9-15
12-15
5-15*
5-
2
5-
2
6- 1
5-10
6-1
5-15
5-29
5-17
5-29
5-17
6-1
5-15
37tec
5-25
5-15
(quar.)——_
25c
6-15
5-25
Sunray Oil Corp.—_____—
—_
Superior Tool & Die—_——————
Swan Finch Oil, 4% 2nd pfd. (quar.)—
10c
10c
6-15
5-27
6-1
6- 1
Sun
Machinery
Oil
6%
Co.
Co.
preferred (quar.)
:
Swift International Co.,
Industrial
Sylvania
10c
—_
37tec
,
(quar.)
Extra
(irregular)
Ltd.,
(G.),
Preferred
Teck-Hughes Gold Mines
Tennessee
Cornoration,
2
Texas
Water
,6-15
5-31
Texon
Tex-O-Kan
Oil
25c
30c
15c
15c
15c
25c
$1.50
$1.50
7- 1
6-10
Timken
12tec
6-30
9-30
12-30
6-20
Toledo
12tec
12tec
9-20
6%
preferred"7(monthly)—.
12-21
7%
preferred
37tec
6- 1
7-15
7-15
Tidewater
Associated
Oil
(quar.)
Extra
6-12
5-11
■
preferred
7-15
5-31
•7-
6-30
6-
$2.50
25c
$1.25
$$3.25
15c
6- 1
6-15
5c
(quar.)
;
Bearing
preferred (monthly)
-
______
41%c
50c
6- 1
6-1
6-15
_a__
5-11
1
5-15
2
5-29
6-
1
6-
1
5-15
5-10
5-10
5-25
6-15
5-25
6- 5
5-19
6- 1
5-20
6- 1
58tec
(monthly).
Toburn Gold Mines, Ltd._
1
1
10c
35c
50c
—
'
66-
6-15
6- 1
9
6- 9
4-30
$1.75
—
5%
6«
30c
^
common
Edison,
6- 1
6-28
11-15
$1.75
(quar.)
Land
Roller
$10c
7- 1
7- 1
6
8-15
25c
pfd.
(s-a)—
Co.,
conv.
9-1
12- 1
5-15
10c
&
$5 preferred (s-a)_
Products, common
$5 convertible preferred (quar.)—
Thrift Stores Ltd., 6te % pfd. (accum.)—
$1.40
5-
50c
Thompson
Tilo Roofing,
5-12
7-15
6- 1
$62tec
—
7%
5-22
$20c
(quar.)—
1.
6% preferred (quar.)
Flour Mills, 7% pfd. (quar.)—
&
5-12
5-22
50c
Thermatomic Carbon,
Oil
5-15
$3c
50c
(interim)——
Water Works,
Coal
1
25c
—
common
(quar.)
Haute
5-15
6-
25c
—
:
Gold Mines (quar.)——
Syracuse Transit Corp., common (irregular}
Common
(irregular)
Common
5-15
50c
Sylvanite
Tamblyn
4-27
5-17
Ltd.—
(quar.)___
certificates
Dep.
Pacific
5-20
.
5-15
$1.62te
11-
'
6-
pfd. (quar.)—
(irregular)—______
6te%
6-10
pfd. (quar,)—
5-15
5-15
(s-a)
common
of Ohio,
5-10
——_______
Rochester Button, $1.50 conv.
6-20
6-15
J.)
7- 1
5-25,
8- 1
8- 1
8- 1
7- 3
7- 1
—
6- 1
7- 1
50c
(N.
7- 1
(irregular)
1
(quar.)____
(quar.)
—.
Oil Co.
Terre
7-15
6-
5-20
Texas
6-10
5-23
5-15
5-15
1
6-10
7-15
5-15
1
5-10
7-15
1
8-
■
1
5-31
40c
(quar.)—
6- 1
30c
6-
5-20
6-15
5-
12- 1
6
5-23
6-15
6-12
6-12
1
1
4-29
5-23
50c
(Indiana)
Sullivan
5-29
5-15
10-
6-15
50c
California—
of
5-15
5-15
7-12
25c
50c
75c
Dredging Corp., $1.60 pfd,
5-15
5-29
5-15
Cap & Seal—
6- 1
5-15
8-15,
25c
(quar.)
6- 1
*
Tobacco
Common
$1.12Va
Steel Corp.. common
conv. prior preferred A (quar.)
convertible preferred (quar.)
Revmer &
—
—5%
(interim)—
dividend
preferred
Republic
6%
$1.12te
45c
Squibb (E. R.) & Sons, common——
:;7 50c
$5 preferred A (quar.)—
$1.25
$4.25 preferred B (quar.)
:_____—__7 $1.06y4
Standard Accident Insurance Co. (quar.)
62tec
Standard Brands, $4.50 preferred (quar.)___
$1.12Va
Stromberg-Carlson Co.,
5-15
50c
Spiegel, Inc., $4.50 conv. preferred (quar.)__
Spencer Kellogg & Sons
5-15
5-15
6-20
5-15
$1.37te
5-15
5-15
7-20
6-15
$1.25
7
$5.50 2nd preferred (quar.)_
6-1
6-1
6-1
5-15
5-15
5-15
7
7
(Dallas)
6-10
(quar.)—
—
Republic Insurance Co. of Texas (quar.)—_
Republic Investors Fund, 6% pfd. A (quar.)
6% preferred A (quar.)
6% preferred B (quar.)
^—
$4te
5
Oil
5
Grain,
(quar.)_.
—:
40c
(quar.)
40c
6te% preferred (accum.)_ $$1.62te.
Remington Rand Inc., common
5
Series
*25c
40c
preferred
preferred
5-15
6-15
5-25
6-15
6-10
6-10
6- 8
6-1 1
6- 1
9- 1
25c
$25c
75c
(quar.)—_
——
4%
Regent Knitting Mills, $1.60 pfd.
5
11c
Bank
,
25c
$1.60
5-25
5-31
50c
$1.75
*
Co.,
5-19
5-
.—
Reading
-77;y7"$1.25
10-16
6- 1
6- 1
6-15
6-10
6-12
8- 1
8- 1
6- 5
6-15
Oil
5-19
5-20
8-15
7-15
$1
$1.37te
Extra
5-31
1st preferred (quar.)—_
Real Silk Hosiery, 7% preferred (accum.)—
Special
30c
Series
Industry Series
Automobile
Corp.—
—
Inc.-—
Industry
&' Dist.
Alcohol
..
6% preferred (quar.)——Quaker State Oil Refining
Quebec Power (quar.)_
Rapid Electrotype
——,———
Rav-O-Vac Company (quar.)—.
_j„_—
Quaker. Oats,
5-19
(quar.)—___
—
Standard
6-20
8-15
6- 1
5-20
Standard
35c
Puritv
6-14
$20c
$$1.50
(quar.)
25c
10c
6-15
6-20
5-19
'
Service, com. (quar.)—
Sovereign Investors, Inc.—
Spalding (A. G.) & Bros., 1st preferred
Spear & Co., $5.50 1st preferred (quar.)
5-22
$1.50
$1.75
5-15
5-27
Bakeries
(quar.)
Public
Oil
1
•.
5-15
9-15
6- 1
7-14
Oil Co.
5-15
8-15
:'-
35c
Standard
5-15
9- 1
(quar.)
Standard
5-15
5-19
1
5-15
'
6-15
31 Vic
6- 1
37tec "7'6- 1
preferred (quar.)—_—\
preferred (quar.)
Hardware Mfg.—_____________
Standard
9
6- 1
6-1
9- 1
^7
76-
37tec
non-cum.
6-10
6-
5-15
.
non-cum.
■i: 5-16
6-15
6-15
6-15
6-15
6-30
6-30
6- 1
$1.25
(quar.)___
1
$1.75
——
State Elec. & Gas 5.10%
New York Stocks.
preferred
1
C-
7-15
Lt. & Pwr. Co.—
-
$5
7%
7-15
8-
50c
50c
$1.25
(quar.)
RR.___.
$1.25
50c
$1.75
$2
$5
Dock—
(quarJ_
preferred
New
6-
part'cinating preferred
Railway Co.—
Southwestern
5-19
5-31
12 tec
7
common
5-11
7
$1
New
N.
25c
of N. J.—
Jersey
$1.25
Power,
Southwestern Life Insurance
6-
—
-—
Corp.
Canada
5%
c
1
5-25
5-25
37tec
12tec
37V2C
(quar.)
California Edison-r
5%
5-10
5-25
30c
Southern
5
5-25
6-23
$1.50
;
Southington
5-
6-15
;
_
5-11
6-15
7-15
7-15
6-1
6- 1
6-15
6- 1
preferred (monthly)
preferred (monthly)
Common
10c
(reduced)
Greyhound Lines
5-15
10c
58 tec
—50c
5% preferred (monthly)—
41 tec
Public Service of Indiana, 5% pfd. (quar.)_
$1.25
7%
1
6-
60c
preferred A (quar.)___
Zinc Co.
5-24
5-15
:
Extra
6%
5-15
6- 1
6-15
62 tec
Co.—
Pulp Co., common
preferred (quar.)—
Southern
5-23
5-26
5c
(quar.)
preferred series B (quar.)
Southern California Water, 5% pfd.
6%
preferred (quar.)—
5-25
5-20
25c
6%
6-21
5-15
50c
25c
Corp.—
Southern
5-15
—____________
6-15
,
Public Service of Colorado—
6-
(quar.)
Extra
Quarterly
'-'77
2-5-45'
6- 8
Alexander,
Public Service
5%
New
11- 4
6-1
6-1
6-15
5-12
$3.50
,
(quar.)
5
$1.37lk
$1.50
5
6-
'
...
8-
5-15
6-15
5-15
50c
common____________
B
Newberry
pfd. (quar.)
6-10.
partic. ctfs.—_
7—
Co.
Southeastern
12-15
V
5-20.
7-3
6- 1
Castings.——
Inc.
5-20
40c
pfd. AAA
9-15
5-20
$1.75
$25c
$2.50
50c
6-
1
6-
Co., 5%
Broadway Bldg.
Aircraft
5-22
6- 1
6-12
South Bend Lathe Works—
6- 1
6-16
7- 1
7- 1
6- 8
77
20c
5-31
&
5-15
/ 6-21
:
$$1.75
$1.25
—
6-15
:
'
;
>
25c
6-10
$1.50
(quar.)
Corp. (resumed)—
Co., $2 partic. cl, A (accum.)
Cordage,
(accum.)
5-29
5-17
1
Steel
Skilsaw,
*
4-19
Canada—
$1.60 conv. preferred
(quar.)—:
Standard-Coosa-Thatcher (quar.)
5-15
7-31
5-31
of
Co.
preferred (quar.)—
6%
5-12
lc
Silver
5-10
1
8-15
5c
$1.50
(quar.)—
Co
Sherwin-Williams
5-29
$1.50
$1.25
$2.50
75c
$1.37te
(resumed)
&
Lead
pfd.
Simonds Saw & Steel Co.__„
10-21
6- 1
5-29
_________—37tec
Company
Powdrell
6%
5-19*
preferred (quar.)
Potter
5-15
5-20
9-30
6-15
5-19
6-
50c
Bedford
Class
2
25c
.
New
5-18
5-
$1.25
,
—
(Herman)
Mur
6%
1
5-25
5-25
6-
—
6- 1
6- 1
,6-15
7- 1
6- 1
(quar.)
Co. (quar.)
Potomac Elec. Power Co., 5te%
5-25
5-25
5-20
5-20
5-25
6-15
5-20
5-19
5-31
6-15
Valley Water,
Shenango
7%
6-10
(W. A.) Pen (quar.)
™—__50c
i—: \ 25c ■■'; 5-25,
Extra■
1
6-10
10c
(Sheller Manufacturing Corp.—_____________
9-30
Inc.___________7_-.__
15c
Power Corp. of Canada, 6% pfd. (quar.)—
$$1.50
6% non-cumul. partic. preferred (quar.)__
$75c
Prentice-Hall, Inc., common (quar.)____—
70c
$3 preferred (quar.)—.——_™__—: 75c
Procter & Gamble, 5% preferred (quar.)—_
$1.25
Public Electric Light, 6% preferred (accum.)
$1.50
$1.75
preferred
7%
preferred (quar.)
Neisner Bros. (quar.)_
Nelson
1
6-15
13 tec
(Tenn.)
(s-a),
Co.
Power, 6%
Nestle-Le
6-
5-25
5-23
25c
Pocahontas
Inc.
'
.
5-
10c
' 7
Standard
prior pfd.
Co., class A (quar.)
Clqss B
7-22
50c
Accident Insurance
Transit
$1.75
5-15
10-21
25c
National
National
Creek
Pond
$1.12 te
(quar.)____
A
Sheaffer
6- 1
7- 1
7- 1
6-15
6-15
$10c
—
_____„___7—U-—25c
Water & Power (quar.)———
$22c
Shawinigan
8
5-19
5-15
■
—
5-15
Development
Poor 1 &
10-20
5
5-
6-20
7-20*
5-10
37tec
—
9-15
Planters Nut & Chocolate
1
Servel,
5-
6-20
5-29*
6-14
10c
10- 1
Placer
8-
5
5-15
6-10
6- 1
75c
(quar.)___—_
5-
5-11
22c
______
A
Class
■■■-;,
r
—
75c
5-15
10-30
Extra
9-15
25c
-
7-15
5-10
Investment
common——
5-
7-15
5-19
International
4-11
1
9
2c
5-24
7
$1.25
participating preference (quar.)
Acceptance,
5-15
1
6-10
Canadian
preferred (quar.)—
Seeman Brothers, Inc.
(quar.)
Serrick Corp., class B (quar.)
5-24
7-20*
$1.62te
(accum.)
6%
7-15
8- 1
5-26
50c
$5 1st preferred
Trust 4%
50c
50c
50c
25c
(s-a)
5te%
Gas,
Securities
7-15
6-20
5-15
75c
6-20
6-10
6-
2c
1
6-20,
7- 1
7- 1
7- 1
6-12
8-1
$1.75
—
5-24
8-
20c
(irreg.
Second
6
6-15
7-1
(quar.)—
6- 1
8-
/
Seattle
6-15
6-30
$2
$1.87te
(quar.)
10c
Pittsburgh Youngstown & Ashtabula—
7% preferred (quar.)
;
25c
(quar.)_____.
Gas
National
Lead,
Pittsburgh
6-
25c
9
5-
37tec
(quar.)
45c
7te%
15c
Steel,
6-
5-12*
3
6-
5-
Assn.
(quar.)
Sears Roebuck & Co.
■
1
5-10
$1,12 te
Loan
(quar.)—__
& Lake Erie RR
Plate Glass (quar.)_____—__-—-
6-15
75c
Corp,
9
9
1
6-
common
Lace
Scranton
5-
.77:-
Pittsburgh
Pittsburgh
5-31
Co,,
Paper
$4.50 preferred
5-13
6-
,
5-15
& Power Co.—
(quar.)_
60c preferred
preferred (s-a)
—
Pittsburgh Coke & Iron, $5 conv. pfd. (quar.)
7-15
50c
National
National
5-15
25c
A (quar.)
preferred (quar.)
$3
National
5-10
1
30c
(quar.)___
Class
*
1
6-
Remedial
Electric
$4 preferred
5-20
.
6%
$1.75
common™.
preferred
National
6-
25c
(quar.)__
4-27
5
5-20
5-29
(quar.)
common
debenture A (quar.)
Scott
Pittsburgh Bessemer & Lake Erie—
9,
Inc.—
(quar.)
common
6-15
6-
25c
10c
—J—
7te% debenture B (quar.)——,
7% debenture C (quar.)—
ii_:'
6te% debenture D (quar.)————
i
5-10
(final)
Pitney-Bowes Postage Meter Co.
•
6%
5-22
7.5-15
4-29
5-13
6-15
50c
(quar.)—_
class A
Products——
Francisco
8%
6- 1
6- 6,
6- 9
6-1
6- 1
6- 1
(quar.)__^i.__„_____
Co. (quar.)
Pinchin, Johnson & Co.—
Chemical Co. of America—
preferred (quar.)—
preferred (quar.)
6% preferred (quar.)
Nashville Chattanooga & St. Louis Ry
San
5-15
$1.50
25c
(quar.)
(quar.)—______
preferred
Service,
Shops,
Steel
Savannah
6-15
v 6-15
6- 1
$1.50
7 y, 35c
40c
$1
20c
$1.50
.i__
6%
Safeway
5-20
—
Extra
6%
5-10
6- 1
6-10
7% pfd.(quar.)
_______________________
Co.
Saco-Lowell
5-20
5-15
6-10
6-15
6- 1
6-1
6-10
6- 1
6-15
B
5-20
6-12
1
6-
25c
15c
62tec
—
Public
5-15
;
5-12
$1
Lead—
Water, 6%
Joseph
Class
5-22
Philadelphia Transportation Co.—
$1 participating preferred (s-a)_
V.t.c. for partic. preferred (s-a)__—7
75c
_
,
,
.Philadelphia Suburban Transports (quar.)_
Philadelphia Suburban Water Co., common6% preferred (quar.)_
;
;.—i___.
5-15
6-15
25c
$1.75
Murphy (G. C.) Co. (quar.)
Muskegon Motor Specialties. $2 cl. A (quar.)
preferred (quar.)
3
Louis
$1.75
50c
(quar.)
preferred (quar.)_—___
& Co. (quar.)
Phelps-Dodge Corp.
6-
pfd,
$7
Paul, Inc. (quar.)
Pettibone Mulliken
6%
Joseph
St.
5-11
—
Pennsylvania
Co.,
St.
St.
6-1
7-15
____________
$31V4c
—
3
5-25
6-20
7
.
25c
$2.50 convertible preferred
$1.75
:
$1
———.——-
$$1
$$1.75
6-
/
—
50c
class A
class
Rustless Iron & Steel Corp., common
35c
35c
35c
Common
(quar.)
(quar.)
$1.40 class A (quar.)
6-10
8-
5-12
$50c
Ruud
25c
6-
$1.40
.
Oil
6-10
7-1
10- 1
1-1-45
8-15
11-15
2-15-45
50c
50c
(quar.)
50c
Mfg. Corp., $7 pfd. (quar.)________
Muncie Water Works, 8% preferred
(quar.)
Munson Line, $4 preferred ________________
National
10c
common
Common (quar.)______-_.—______
Mullins
National
Dredging
6-
$2.25
(quar.)
25c
$15c
t$l
:
Gold
Consolidated
5-15
—
$1.37te
Pa terson-Sargent
5-15
$$1
Fuel Supply (Utah)
(irreg.).
Mountain Producers Corp. (s-a) ______—___
National
common
34 tec
(quar.)
37tec
35c
25c
(quar.):
preferred
$1.50
—
50c
common.:
Co.,
\ $5.50
Mountain
Mutual
Proof
5-20
-
-
7%
Mining & Development—
Co., 6%
(quar.)
(increased quar.)_.
Co.
Pen
5-20
lc
Muskogee
Plantations
(quar.)
1
1"
——_—i
Mortgage
Oil
Manufacturing
$2
Corp.
Wheel Corp
Mount
Sugar
Pacelot
1
—
(s-a)
Finance
Motor
Paahua
5-15
25c
(quar.)_—
(quar.)
pfd.
common
(s-a)
Morgan (J. P.) & Co
Morse Twist Drill &
Motor
6-13
75c
Ltd., common
&
1
6-15
$1.25
(quar.)
preferred
7-
(accum.)
$5 preferred
Paper,
6-
(s-a)
Cottons,
Oxford
50c
Co.,
A
6-13
6-
Tool
preferred
$4.50
6-13
1
$1.07
Ltd.———
6% preferred (quar.)__
Chemical
1
$1.00
—!
Society, 5te %
Loan
Monroe
Monsanto
7-
7-
preferred-Parkersburg Rig & Reel,
Mills
Machine
Monarch
Marine &
Parker Rust
common..,—.——™..
(quar.)__
Power, com.
&
(quar.)
Manufacturing
preferred
25c
Service,
Carpet
5%
Outboard
25c
(quar.)
Co.,
(R.)
Gas
Mohawk
Ottawa Light Heat
6-25
6-1
4C
preferred series B (quar.)— —
4Vi% preferred series C (quar.)—
Utilities,
——
preferred (quar.)_.
Car & Aircraft, Ltd., common
Ottawa
25c
(initial)
preferred
common—
50c
4%
5%
1
7-
Elevator,
6%
1
5-22
6-15
37 tec
$1 prior preferred (irregular)——
Minneapolis-Honeywell Regulator Co.-—
Missouri
5-
1
6-
6-15
Equipment
$2
(quar.)
——
preferred (quar.) —
Midwest Oil Co., common (s-a).
—
8%
preferred (s-a)——
Miller & Hart, $1 prior pfd. (irregular) —
common
Otis
Farm
50c
common———-
non-cumulative
New
5-20
25c
preferred
8%
$2
4
Products,
Steel
Midland
5-20
7:'7„'.. S3
(s-a)
preferred (accum.)—
conv.
6-15
6-10
40c
(irregular)
6% preferred
Grocery,
Midland Oil, $2
1
6-10
7-
20c
Corp.
West
Middle
75c
35c
$1.50
t$3
$25c
+$1.75
20c
$1.50
$20c
$15c
$$1.25
50c
$1.25
15c
40c
50c
40c
common™
10c
$1.75
—-
$1.12te
(irregular)—______
Ontario & Quebec Railway (s-a) _———__
Ontario Steel Products, common (quar.)—
7% preferred (quar.)
5c
Mid-Continental Petroleum
$1.62V2
50c
$1
25c
$1.50
$1.75
87tec
Service, 6% pfd. (quar.)
preferred (quar.)
——
7% preferred (quar.)
Norwich Pharmaceutical Co.__—..—15c
5-17
6-10
25c
;
7%
6-20
.
Bancorporation
Norwalk Tire & Rubber,
5-20
1
6-10
35c
Corp., common——
Metropolitan Edison,
$6
Pennsylvania
North
1
Meteor Motor Car
$6
North
1
6-
(quar.)—__7_——
$7 preferred
1
6-
81V4C
preferred (accum.)
Corporation, common
(quar.)
Thermit
9-
$1.62te
participating preferred
&
5
6-15
Northeastern
Participating
Metal
5
9-
50c
Tfcxuie
$3.25
6-
30C
6- 1
6- 1
7- 1
7 6-.1
50c
6-20
37tec
6-1
$$1.50 " : 6- 1
(quar.)—___
Soundview
50c
$1.25
30c
9-15
$$1.50
(quar,)__
Canada (quar.)
Ltd. (s-a)_:
Manufacturing Co., common-
Royalite
6-15
-
25c
;
of
BanK
6-
Mercantile Stores,' common (irregular)_____
Merchants & Miners Transportation (quar.)
Meviii
Royal
3
7- 1
* 10-1
.
$1.50
$1.25
;
$1.50 preferred
Roxy Theatres,
Elec. common
Subject to the
(quar.)
Paper Co., Ltd., 6% pfd.
Brothers, Inc. (quar.)_
Roos
„
(quar.)
Rolland
6-10
6-10
7- 1
9-11
6-1
5-25
6- 1
6-1
7- 1
6-10
6-1
6-30
1
1
6-
Scott-T¬
6-20
^
series'E (quar.)____
Pendleton
$1
25c
9-
&
preferred series D
Roeser &
1
6-
5
Merritt Chapman
6%
5% preferred
5-20
8-
5
9-
thare
Electric—
8- 7
6-
25c
conv.
5-22
6-20
&
Gas
6-
25c
Mengel Co., 5%
Rochester
When
Holderi
Payable of Reo.
Per
.
Tobacco Co.—
1- 1
7-1
7- 1
preferred
(quar.)__
preferred (quar.)__——.—..—-i—
preferred (quar.)
~~
6%
&
held.
preferred
-—-—
5-12
dividend) —
Gas
shs.
100
_
$1,50
'
{"/a 1st and 2nd preferred (quar.)
$1.75
7%' 1st and 2nd preferred (qtlar.)_______«"*• $1.75'.
of the SEC_™__-_.———
6%
preferred (quar.)
75c
5%% preferred (quar.)
—________
71%c
North American Life Insurance, common____
16c
5%
6%
$1.50
.
approval
5%
(quar.)
__________
(stock
North American Co.
5-15
621/2 C
pfd. (quar.)—"
(s-a).
preferred A (quar.)_____—_______
preferred A (quar.)
1st
One
$1,371/2
$5.50 preferred B (quar,)
Meadville Telephone Co., 5%
Acceptance Corp,
1st
6-
15C
$1.50
Mead
Reynolds (R. J.)
Shipbuilding Corp.—
$1.50
25c
—
,
Name of Company
of Reo.
Participating stock
(s-a)___—
$1.50
Noranda Mines, Ltd.
(interim)_
—$$1
Norfolk & Western Railway Co. (quar.)____
$2.50
North American Car Corp., common (quar.)
30c
Founders
Marconi International Marine Communication
Ordinary registered
York
New
25c
5%
(quar.)
Holdert
When
Payable
thare
Name of Company
0/ Reo,
Payable
Shi^e
Per
Holder1
When
Per
Name of Company
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2120
5-22
5-20
6- t
$lc
4-22
[Volume 159
When
Name of Compan#
of Reo.
Oil
Transwestern
Trinity
—■
Co.,
(quar.)__
common
preferred (initial)-,——--—.—
preferred
-—
Troy <& Greenbush RR. Association (s-a)—
208 South Lt Salle St. (quar.)——————
5%
Tank
Union
(quar.)
Co.
Car
$1.25
$1.12%
$50c
150c
, 25c
United
Biscuit
5%
of .Amer.,
common———
preferred
Co.
(quar.)———-—
United-Carr Fastener (quar.)—---————
United Chemical, $3 partic. pfd.. (quar.)
United Electric Coal (resumed)
8-10
11-15
,
6-
6-15
6-
5
—r——•——
6-20
6-
1
1
1
5-10
5-31
5-15
5-31
6-
1
1
6-10
U. S.
7%
U.
S.
(quar.)
Common (quar.)
U. S. Playing Card
Common
■
6-
U.
U.
Potash, 6%
Printing &
S.
S.
ferred
U.
.
preferred (quar.)
Corp., $5 preferred
7%
U.
common...
"preferred
Steel Corp., common..:
States
S.
(quar.)—
Sugar
preferred A (quar.)
6.4%
6-15
prior preferred (quar.)
Consolidated Oil-.
6-
5-15
7-
6-15
6-
5-15
7-
6-15
6-13
6-
7-
Raalte Co.,
I
_.
7%
(quar.)—
(quar.)—.
7%
Ltd.
Cotton,
Wabasso
Mines,
Amulet
Waite
6-15
7-
1
Shoals Mfg..
Ware
(initial)
preferred
5%
preferred
preferred
Wayne Knitting
6% preferred
Bank
Other assets
11-29*
7-1
(quar.)
r-
Mills, common
(s-a)—-——————
Welch Grape Juifc^ Co.—
7% preferred (quar.)———.——.
7% preferred (quar.)
._J_——
Wellington Fire Insurance (s-a)..——
6-
Engineering
.-Extra
'
,
Snowdrift Co, Inc.—
preferred (quar.)————
West Michigan Steel Foundry— / 1 y\$v/.!v-v
$1.75 conv. preferred (quar.)——>—
West Virginia Coal & Coke (irreg.)—
West Virginia Water Service—
•
'
'.//
$6 preferred (quar.)—————
5-26'
9
7-
5-25*
Paper,
Whitaker
common
6-
Wilkes-Barre
Lace
(quar.).——...
Ltd.
Wilsil,
5%; preferred
(initial)
preferred ——i————
Winters & Crampton Corp.—
5%
———
,
Extra
Quarterly
Service 5% pfd.
Oil (quar.,)—+
Wisconsin Public
Wiser
.
.
-Extra
5-17
5-17
Other capital
6-
1
6-21
2
9-21
12-23
Woolworth (F. W.) &
Worumbo Mfg., 3¥2%
(Wm.)
Wright-Hargreaves
Wurlitzer
5%%
preferred (accum.)—
——
Mines.
(irregular).
Sheet & Tube Co., com.-(quar.)
(Rudolph)
Youngstown
Co., Ltd. 6% pfd. (s-a)
Jr. Co.——
preferred
Youngstown Steel
Co.
(quar.)..
Door
+
182,276
—
+
7,038,805
+
566,421;;
17,640
649,644
+
2
+
281,677
372
+
+
897,914
+
7,010,420
+
49
+
9,790
+
27,686
+
188,097
—
136
"V
9-
1
26,965
+
814
accts._
to deposit &
35,534,998
+
898,777
58.0%
—
make
to
—
+
1.2%
—
7,038,805
9
6-10
9-20
9-
7-20
7-10
10-20
9
10-10
1
6-15
5-12
6-15
5-12
.,
6-12
5-15
-7
6-15
5-15;;
5- 9
6-15
66-
;
5
1
5-20
5-31
5-15
5-31
5-15
6-
1
5-15
6-
1
5-15
1
6-15
7-1
6-15
5-31
5-15
8-31
8-15
8-15
8-11
6-
1
5-16 7
6-
1
5-16
6-
1
5-15
3
1
'/'
5,646
547
—
—
7,399
50c
25c
in demand de¬
May 10: Increases of $283,000,000
5-15
5-31
55-
6-
Loans
5-10
1
'
Loans—total
■
6-10
7-
1
6-17
1
6-17
7-
1
6-17
6-
1
5-15
6-
1
5-11
6-10
Loans
5-31
to
6-
1
6-30
5-15
11-15
and
brokers
U. S. Government
and
dealers
5-12-43
+ 3,322
'89
20
227
—
for
248
!"j-
trade, ore, $22,614;
fixed
ia
assets*
other trade, $543,-
payable
$141,872; accrued 1943 Federal and state
accrued 1944 Federal and state income taxes,
bond sinking fund payments due within a
current liabilities, $143,680; funded and long-
mortgage
other
stock
(621,460
at cost, $173,287;
shares),
par
no
furnaces
and
shares),
$2,329,523;
$6,124,444;
earned
kilns*
surplus
31,^1936, $3,725,659; less capital stock in treas¬
total, $16,962,986.—V.
159, p. 773.
Pittsburgh
Terminal
Coal
Trustee
Corp.
Obtains
agreement to settle claims of William G. Heiner, trustee for theagainst several other companies for $1,803,319 in cash and
in property was reached May 10 at a meeting in Pittsburghrepresentatives of the defendants, Samuel Kaqfman, attorney for
company,
the
trustee,
said.
Heiner's
Mr.
1,
'
claims,
part of proceedings
a
in
reorganization
;
of
-
the
under the Bankruptcy Act, are against the Pittsburgh & Wesfc
Virginia RR., Pennroad Corp., North American Coal Corp., Pittsburgh'
company
Terminal
Land
Co., and Mutual
Supply Co.
Under
the new agreement the cash and property to be transferred
Pittsburgh Terminal Coal Corp. will be used for payment of admin^'
istration expenses, creditors' claims of about $615,000, and for dis¬
to
tribution
A
holders
to
in
clause
road
the
of
16,378 shares of preferred
agreement transfers from
Mr.
stock.
Heiner
to, the
Penn¬
of the "interest of
Pittsburgh Terminal Coal in the Castle Shannon Coal Corp. and Pitts¬
burgh Terminal Land, as well as 12,600 acres of coal land in Wash¬
ington County, Pa., in addition to 2,649 shares of stock and $10,000
of bonds in the Pittsburgh & West Virginia held by the coal firm.
The agreement is subject to approval by the Reconstruction Financ®
Corp.
Corporation
p.
the Pittsburgh
or
before
it
&
become
can
2138.-0.....;,^
legal, Mr.
Forgings
all
said.—V.
Kaufman
!
+
/
Pittsburgh
Virginia
West
-
156;
+?,v| • / •"
Co.—Earnings—
■
/(Including Greenville Steel Car Co.)
Quarter Ended March 31—
"Net
profit
Earns,
share
shares
mon
"After
220,000
on
1943
t$177,015
...
$$199,237
§$167,150
$0.90
$0.76
com¬
$0.80/
^
—
1942
1944
————
per
interest and Federal and State normal incoma
excess profits
taxes.
tAfter $435,000 income and excess profits
taxes.
No provision for renegotiation for the 194+ March quarter was
depreciation,
and
deemed
and
V.
necessary.
and
158.
iAfter
■
provision
$l,130,0GO for Federal
of
other,
§After
contingencies.
Federal
Pittsburgh
& Bolt
Screw
/
per
+1943
$$233,495
$0.15
share
common
;
$200,572
$0.12
charges and Federal income and excess profits taxes.
tRenon-recurring charge in respect of sale of certain
"After
vised.
$669,000.—
1944
-
profit
^Earnings
of
Corp.—Earnings-
Quarters Ended March 31—
"Net
taxes
'."//■'/•/■//,:
2474.
p.
income
profits taxes and $225,000 for post-war adjustments, operat¬
excess
ing
$Excludes
properties.
in
the period this would reduce net profit by
flOn 1,497,347 shares in 1914 and 1,500,000
applied
If
to
$67,000.
1943,—V.
158,
p.
2474.
Pittsburgh, Youngstown & Ashtabula Ry.—Tenders—
H.
W.
Schlotter, Treasurer of the Pennsylvania RR. Co., 380 Seventh
York,
New
bids
the
for
Y„
N.
sale
to
will
the
until 3
p.
company: as
m.
of
on
June
May
1,
31,
1944,
1944, receive
first general
mortgage bonds to an amount sufficient to exhatfst the sum of $113,790,
pur¬
at prices not
•
U. S. Government
to exceed par and interest.—V.
157, p. 1851.
593
185
616
Other securities—
Real estate loans
Loans to banks
Other loans:
303
obligations
;
—
——
—-
—
——
Pittston Co.
(The)
7-15
8-
1
7-15
8-
1
7-15
1
10-16
11-
1
,10-16
1
1
5-15
Cash in vault
7-
1
6-10
Balances with domestic banks
7-1
6-10
6-
5-19
6-
1
4-21
6-
7
5-
4
Treasury
U. S.
Subs.)—Earnings-
(&
+ 2,149
(other
+
2,930
18,104
1
1
—1,194
4
Reserve with Federal Reserve
Banks,—8,792
25
551
1,999
42
———
18.
—
+
+
—
459
deposits-adjusted
deposits
5-25
5-20
7-
6-10
6-
1
587,712
569.643
24,788
29,185
14.895
167,202
159,883
150,749
141.451
$1,018,388
$837,393
$576,991
$446,446
"344,188
97,893
90,636
54,537
$674,200
$935,286
$667,627
$500,983
Fed.
tax)
profit
before
depreciation, etc.—
Other
income
Total
income
exps., less
earned.
—'
—-—
6,740
4,881
+
.
283
+
34,932
6,619
:
U. S. Government deposits
Domestic banks
0-20
672,342
17,271
1941
24
568
45
+ 1,095
—504
—2,633
+
Interbank deposits;
1
5,610,727
admin.
debts
than
Int.
Time
$6.783,16S
6,639.298
Oper.
287
Liabilities—
Demand
5-20
1
income
1942
$7,983,934
7,106,288
+ 2,476
640
5-15
7-
bed
Taxes
——
6-
6-15
&
gen.
expenses
for
1943
£8,800,694
647,493
sales„___.
Prov.
Government
i———
6-1
•6-
of
1944
revenues
oper.
—2,525
securities——,—_—2,809
bonds_!
Obligations guaranteed by U. S.
Other
5
Sell.,
172
—
16
Cost
61
—
45
2,818
certificates of indebtedness———8,963
notes^
_——:—
——7,110
7-31
81
&
Sales
$10,859,644
9,009,289
3 Mos. End. Mar. 31—
24
+
—
——
1
Treasury
}
306
1,074
57
1,203
—
—
————-—.——
8-
1
investment
$16,962,986,
total,
$206,480;
$200,000;
;! Ave.,
obligations
8-15
6-15
$1,043,592;
at cost, $111,738;
charges,
taxes,
$76,742;
first
shares
agricultural
Other securities
————
Other loans for purchasing or carrying:
Treasury bills—
1
government;
.
12-30
2
63
6,015
industrial,
chasing or carrying:
,
5-3-44
10,167
2—.————_•
^Commercial,
loans—
7-
1
S.
U.
June 1, 1944, $28,961; notes payable
$600,000; accrued pavrolls, $143,686; accrued
accrued taxes other than
1943, and 1944 Federal
income
taxes,
Decrease (—) Since
5-10-44
50,611
^
and investments—total-
Assets—
9
1
7-
cost,
at
not consolidated,
dividend
approximately
Increase (+) or
5-29
6-
of dollars)
.(In millions
9
6-10
6-17
$1,666,303;
An
5-22
5-31
1944 and 1943*
1944
$2,203,319 Settlement of Claims—
19.0%
Reserve
Federal
the
6-15
6-15
.
?
5-15
6-
7-.1
'
■
.
6-14
,
•
5
6-15.
6-
1941 ana
accounts
debt, $2,887,000; reserve for relining blast
serial preferred stock
(24,752 no par
•
1
5-10
1
hand,
on
investments,
accumulated since Jan.
Commercial, industrial, and agricultural loans declined
$20,000,000. Loans to brokers and dealers for purchas¬
ing or carrying United States Government obligations
declined $60,000,000 and other loans for the same pur¬
pose declined $31,000,000.
;--\v
Holdings of Treasury bills increased $56,000,000 in the
Chicago District, $17,000,000 in the St. Louis District,
$15,000,000 in the Kansas City District, and $45,000,000
at all reporting member banks, and declined $24,000,000
in New York City, and $17,000,000 in the Boston District.
Holdings of Treasury notes declined $16,000,000.
^
Demand deposits adjusted increased $123,000,000 in
New York City, $66,000,000 in the Chicago District, and
$283,000,000 at all reporting member banks, and declined
$37,000,000 in the San Francisco District. United States
Government deposits declined in all districts.
Deposits credited to domestic banks increased $26,000,000 in the Chicago District, $21,000,000 in the Dallas Dis¬
trict, $20,000,000 in the San Francisco District, and $140,000,000 at all reporting member banks.
A summary of the principal assets and liabilities of
reporting member banks, and of debits to demand de¬
posit accounts, follows:
; ;/' ' v-:
6-17
6-10
6-
and
deferred
$11,576;
state
ury,
posits adjusted and $140,000,000 in deposits credited to
domestic banks, and a decrease of $504,000,000 in United
States Government deposits.
5-15
V .-V'
in
(paid April, 1944)
common
reporting member
System in 101 leading
cities shows the following principal changes for the week
of
banks
1
7-
funded debt of-
on
and $2,694
$80,148;
indus¬
ended
6-
—
expenses
year,
9,227
7-15
,.i
preferred
$76,500;
The condition statement of weekly
5-15
5-20
6-15
867;
of
6-20
,,
assets,
income
Condition Statement of Member Banks
1
12-
_
28,961
and
discount
and notes receivable,
inventories, at the lower of
market prices, $3,308,438; trustee funds for additions
$47,500; sinking fund for redemption of bonds, $56,-
'
6-
7-
of
banks
miscellaneous
and
2,762
8-1
6-
5,677
$377,430
58,817
$400,000
6-1
1
-5,841
$133,172
term
trial loans—„'
5-19
i
6,973
$152,312
$5,285
in
cost or
fixed
interest,
1,767,967
+ 245,561
.
'
savings notes, $295,000;
of $86,565),
$1,184,228;
reserves
to bank
6-22
?,
$+.01/2
140,000
Liabilities—Accounts payable,
'
3,865
5-16
9
of
(net),; $9,042,863;
+
F. R. note liabilities combined
5-16
6-
—
$284,500
stock—57,923
tax
"C"
844;
1,104,348
—
72,976
Commitments
5-25
•r. ?
——-
161,150
$93,588
amortization
interest
average
+
12,407
139,669
accounts
Ratio of total res.
1
9-
25c
40c
J3 «
$1.75
50c
$b ^c
25c
5,000
76,500
and
—
pfd.
on
(less
+ 4,958,014
+
'
Total liabilities & cap.
1
6-10
70C
34,051
5,000
5
6-
-5c
——
Woolworth
1
6-
6-
$1
41,109
5,000
$17,158
Assets—Cash
Capital Accounts—
6-
Si?
r——
Governor Co.
(quar.)...—
(F. W.) Co. (quar.)——---
+
256,883
157,161
1
6-10
(quar.I—
_
Woodward
Wrigley
—
—
—
+
12,986,381
-
r
5
7-
—.—————
39,670
5,000
parts
profit
series
6,427
—
15,336,506
6-
■
85,560
396,691
11-
—
—
&—
898,777
+
35,089,799
Total liabilities
10-
convertible preferred (quar.).——.
18%c
Winstead
Hosiery, quarterly
■—$1.50
.Quarterly
+
+
1-2-45
+$2.50
+$2.50
$562,158
Consolidated Balance Sheet, March 81,
4,034
—
9,696
6-15
75c
..
2,606
1,530,841
5-31
20c
+25C
(quar.)——.———————
Winnipeg Electric,
317,596
338,320
+
18,212,756
Total deposits—
5-31
_
—
+
+
Deferred availability items——.
5-15
1
6-15
$1.50
$469,622
Note—No provision for Federal excess profits taxes in
1
65,452
accts
"Capital paid in
Surplus (Section 7)
Surplus (Section 13b)
$1.75
$1
(quar.).—
$365,105
taxes
13,465
373,995
6-
$10f°
preferred (quar,).,
Manufacturing Co——
Williamsport Water, $6 preferred
Willson Products (quar.).—
+
1,579,439
5-
50c
35c
■
7,911,728
70,554
:
/
6-15
$1-75
+.
3*
5-22
1
6-
25c
$1
33,937
$227,653
debt_„
subsidiary companies,
5-20
:
vC,'.'
——
preferred (quar.)
Whitman (Wm.) Co., 7%
7%
+
3,706
Other liabs., incl. accrd. divs.„.
$1
$1
——
576,378
+
Other
6-10
$1.50
Instrument-———
Products (quar.)
—■
Wheeling Electric, 6%
preferred—.———
White Motor Co
——————:■
+
136
Member bank—reserve acct—
7-15
An„.
Chlorine
Westvaco
Deposits;-
7
6-15
4-28
43%c
25c
Electric
Weston
$528,221
55,578
3,136,222
in 1943, $3,693 in 1942 and $2,983 in 1941.
tIncludes Federal excess profits
taxes.
tAlso includes loss on sale
or
abandonment of capital assets, net of $8,762.
to
U. S. Treasurer—gen.
;
common——
$414,044
29,982
charges
"Includes
+ 7,770,808
Foreign
Supply (quar.)—25c
Westinghouse Air Brake..—
25c
Westinghouse Electric & Mfg.,
7% participating preferred
559,521
35,534,998
5-12
Auto
Western
$335,123
$4,338 in 1944, $1,688 in 1943, $2,148 in 1942
+
34,882
5-26
$1
conv.
372,300
Liabilities—
5-20
Wesson Oil &
$4
206,964
—„—
6-10
$L75
$1.75
$$1.75
10c
——
$3,664,444
/
chgs,
Federal
for
Divs.
1,943,740
premises
6-9
50c
$1.50
Wellman
+
+
—
13,972,546
Total assets
6-15
1
7-
.;
fV2j>
■
10,000
—.
Federal Reserve notes————_
$2 50
(semi-annual basis)
$3,487,186
3,073,142
*
obsolescence
'
6-15
.
6-15
50c
$9
22/2c
a.——-
5%
+
Uncollected items—.
5-31*
$1-25
.
—
Electric Co., com,—
Washington Railway &
Participating units
5%
——,
—
(quar.)—
Co.
(S. D.)
Warren
549,521
oth.
income
other
banks—
F. R. notes of other
6-15
15c
$1-12 h
50c
50c
common—.—-.——.--—
$4,566,350
4,231,228
35,407
oper.
ehgs.—
funded
Net
+ 5,992,404
+
bef.
•Other
1,008
1,940,097
banks
12-20
*25c
40c,
preferred (quar.)...
—
—
Walgreen Co., common (quar.)—
4Va% preferred (quar.).———-—<—.■
Wamsutta Mills (quar.)—.;—i
—
$1
•
—
1,163,764
Total loans and securities-
Due from foreign
8-31*
tf*
(quar.)
Common
•
1941
other
oth.
&
for
Pa.
13,808,496
6-20
Gooderman & Worts-
(Hiram)
Walker
—
(quar.)
Ltd. (quar.)
1942
$184,787
—J.
and
replacement
Prov.
1,448,767
—
9-20
$1-75
$1,75
?$1
$20c
—————
570
3,042,940
Notes—...,
5-19
$1-50
preferred
preferred
+
8,153,025
5-22
$1-50
Common
1943
1944
■'
$4,616,015
4,431,228
out-
before
on
of
141,928
+
16,287
12,039
(incl. guar, sec.)
1
50c
common.—————:J,
and exchange agent for
p. 1697.
stock.-—V. 159,
earns.,
income
Prov.
97,855
—1,193,522
22,233
—
152,011
Bonds__——
1
■"
Detinning,
—
+
Industrial loans
6-20
,
Vulcan
19,451,331
4
7-
—
Vogt Manufacturing Corp
2,841
Irit.
295,623
+
21,226
+
5-22
common
1st preferred (quar.)
7%
appointed successor transfer
stocks
common
common
42,866
sales
Prof.
U.«S. Govt, securities:
6-
50c
$1.75
Vanadium-Alloys Steel
7
$1
Vapor Car Heating, 7% preferred (quar.)—
$1.75
7 % preferred (quar.)
$1.75
7% preferred (quar.)
————
$1.75
Vick Chemical Co. (quar,)_
—
50c
Virginia Coal & Iron
$*■
Virginian Railway, common (quar.).——— /;■; 62 V2c
6%" preferred
(quar.)
U
37'/2c
Van
+
267,237
Discounts and advances—.——
1
6-15
62%c
62V2c
62y2c
prior preferred (quar.)——
—
prior preferred (quar,)—;—————
prior preferred (quar.)————
Van Dorn Iron Works——
—5%
5%
340,469
Other cash—
Total reserves———..
Other
—1,391,290
46,300
18,843,625
Redemption fund—F. R. notes-
6-15
:
and
freight
of
"vinc.
Total U. S. Govt, securities
$1
5%
5-
7-10
50c
25c
Universal Insurance
25c
Universal Laboratories, $2.50 pfd. (quar.) —
62V2c
Universal Pictures Co,—$1
Upper Canada Mines, Ltd. (interim)——.—
$2y2c
Utica Knitting, common
$.
hand and
on
Certificates—
$1.50
—
certificates
Gold
6-15
1
6-17
Cooler, $1 class A
and
been
has
Co.
Trust
preferred
outstanding
discounts,
Profit
May 10, '44
May 19, »43
;V
$
$
May 17, '44
due from U. S. Treasury-—-.
Universal
Universal
sales
less
(+ ) or Decrease
(-) Since
5-15
Paper Factories—
Wall
United
6%
.—
Gross
thousands of dollars)
Assets—
7-
62 '/2c
50c
$2
$1.00
$1.75
$1.25
40c
1
the
presently
3 Mos. End. Mar, 31-
:Increase
8
6-
pre¬
—
non-cum.
United
5%
5-
5-31
$1.50
——
Lithograph Co.,
Rubber Co.,
S.
8%
;
(quar.)
(quar.)
preferred
the
ward
(In
6-30
40c
40c
40c
50c
Manufacturers
for
agent
Cost
5-24
1
6-
$1.75
'
The
dividend,
Statement cf Condition of the 12 Federal
5-10
■
1
6-10
22 Vat;
50c
,
(Continued from page 2088)
l
Pittsburgh Coke & Iron Co. (& Subs.)—Earnings—
5-31
$1.50
$1.37V2
,
pfd. (s-a)
Gypsum Co., common (quar.)—_—
preferred (quar,)———————
Pipe & Foundry, common (quar.)
5
5
5-16
S1V4
Casualty Co., 45c conv
9-
12-
5-16
6-
Utilities Corp.—
$2.75
9-15
12-15
5-15.
•
.;:■/
preferred (accum.)—.—:
■_
preferred
(accum.)———————
$3
U. S.
75c
Piper Aircraft Corp.—Transfer Agent, Etc.—
30%
Less
Corporation and
investment News
5-15
6-
registered (final) .AV—12 % %
United New Jersey RR. & Canal Co. (quar.)
$2.50
Public
5
5-15
6-
,
6-1
1
Ordinary
United
6-
funds, less 15% Canadian non-residents' tax.
JPayable in Canadian funds, tax deductible at cne source.
Non¬
resident tax, 15%; resident tax, 7%.
a Less British income tax.
6-15
$3.50
10c
/,/
6-15
tPayable in U. S.
7-
/ y.-iJ J,/:..:';
•' > ■, o+\ +
preferred (monthly)-—.—— ,
5°%c
7% preferred (monthly)—
58/30
6.36% preferred (monthly)———
53c
6.36% preferred (monthly)
—53c
6%
preferred (monthly)—
———
50c;
6%
preferred (monthly)—:
—
.
50c
United Merchants & Manufacturers
(quar.)
50c
preferred (quar.)
Molasses, Ltd.—
General
1
75c
Jamaica Income tax
•Transfer books not closed for this
x
5-29
7%
5%
6-
75C
Quarterly
5
United Light & Railways—
United
6-9
11-10
6-15
30c
75c
25c
Corp.,
Gas
5-23
$c25
$7 preferred (accum.)_—
United Gas Improvement, common (irreg.)j
United
5-20
1
50c
50c
——
5% conv. pfd, (quar.)
United Air Lines, Inc., 4%% pfd. (quar.)—
United Amusement Corp.,- Ltd., cl. A (irreg.)
Class B
(irregular)
.
—
1
6-
f, 6
$1.75
Aircraft Corp.,
United
5-25
of Reo.
25C
-
Zeigler Coal & Coke.—
——
Zion's Co-operative Mercantile InstitutionQuarterly
...
—
Quarterly
4—
5
8-15
^
7%
7
6-
25c
25c
20c
(quar)
6-
6-
25c
Co.—
Universal Insurance
Quarterly
Trion
6-26
3c
$66c$1.50
Tonopah Mining Co. of Nevada (irregular)Toronto Elevators, Ltd., 5V4% pfd. (quar.)_
Trane Company, $6 1st preferred
(quar.) —
Payable
thare
Name of Company
Holdert
When
Per
Holder)
Payable
"
<
,
Per
thare
■
2121
CHRONICLE
THE COMMERCIAL & FINANCIAL
Number 4283
'
Foreign banks—-————-—-.
———
during week
v
.
894
110
+ 140
+
4
+
35
—
+
—
895
interest
45,033
Prov.
40,690
34,324
172.046
158,527
178,36C
203,710
387,738
187,002
78,015
14,890
56,794
70,173
$282,098
$336,585
$224,613
$140,111
and
_
for Fed. inc. taxes
for
24,028
139.141
4,218
deplet.
amortization
Provision
8,0°4
—
-~-kDebits to demand/deposit;accounts except"
interbank
and; :.'UV-is/* 'Gov't
accounts,
Borrowings
Deprec.,
_____„
minority
stockholders
160
24
Net
inc.
for
periods.
"Loss.
11,076
Note—Provision
for
Federal
taxes
011
income
for
the
three
months*
THE COMMERCIAL & FINANCIAL
2122
of 42% on
subsidiaries
will file consolidated Federal income and excess profits tax returns and
premised on such returns being filed it is not considered that the
companies
liable for Federal
are
excess
Assets—Utility plant, $117,881,712; construction fund (U. S. % %
treasury certificates of indebtedness maturing Feb. 1, 1945), $4,000,000;
investments, $477,489; cash, $4,253,590; U. S. Treasury Tax Notes, $4,515,000; accounts receivable (including installment accounts), $1,746,034; materials and supplies, $2,212,324; prepaid insurance, taxes, etc.,
$212,019; deferred debits, $1,937,715; total, $137,235,883.
profits taxes.
New Director—Reduction in Capital—
John
S.
board.
by
Young has beertmlected
The
the
stockholders
amount
redeemed
April
29.—V.
a
May 3
on
shares
of
class
of
159,
director to fill a vacancy on the
approved reduction of the capital
A preference stock which were •
1697.
p.
Oil
Co.
Subs.)—Earnings—
(&
1944
1943
cluding
shares
Earnings
in
$548,512
$923,250; miscellaneous cur¬
$1,126,410; depreciation re¬
serve,
$9,589,826; contingent reserve for Federal income and excess
profits taxes, $1,041,997; miscellaneous reserves, $417,277; contribu¬
tions in aid of construction, $645,518; earned surplus, $1,349,390; total,
$137,235,883—V. 159, p. 1560.
$464,276
ex¬
1,047,116
1,042,300
$0.52
$0.45
depletion and Federal income taxes..
made for excess profits tax, since the earnings
,__Z-
treasury
1,035,516
$0.51
share
per
"After
shares,
common
depreciation,
Note^—No
provision
'do not indicate any liability.-
,
Operating
waiter
the
Big
of
Trees.—V.
J.
C.
President of this
Lake Oil Co., a
p. 2619.
Hallanan,
S.
President
late
company,
subsidiary,
has been elected
to succeed the
Purchased
1914
profit
of
share_,
per
—
—
depreciation, depletion and
"After
Note—Federal
gated
$129,015
$235,000
;
V. 158, p. 2474.
47,493
52.067
Z.
77,395
80,730
1,243,757
1,182,090
105,323
98,490
income)__
.
on
Net
Income
$3,421,528
1,327
$319,596
Dr434
$344,776
Dr490
income.™
oper.
Non-oper.
$3,231,983
Dr8,889
income
Gross
Federal
and
(normal
Fed.
debt
of
$3,223,094
968,734
■'
.29,000
.surtax)
profits
excess
Acceleration
of
78,965
66,919
taxes
income
$3,422,855
850,855
$319,162
$344,286
Deductions
130,100
tax
515,478
131,000
413,200
345,900
48,800
.
amort.
and
discount
59,900
417,600
210,400
$118,267
$131,497
$1,397,482
$55,816
$63,692
$1,395,300
$731,995
expense
Period End. Mar. 31—
.
Federal
$504,880
$507,068
$5,459,893
expenses
294,631
267,502
3,226,518
$4,965,033
2,933,301
17,538
30,127
174,796
32,568
38,072
317,714
344,943
27,083
27,083
325,000
69
$144,284
$1,415,796
$1,243,228
Dr 34
Dr91
751
DrlO
$133,026
$144,187
$1,416,547
$1,243,218
res.
—
income
Gross
Interest
Net
41,063
.
applic.
41,557
472,052
491,172
$102,630
$944,495
unpaid
March
to
on
Feb.
1,
a share on 7%
stock, were paid
Latest dividends, amounting to $1.75
stock and $1.50 a share on 6% preferred
1944—V. 159, p. 1868.
„
depreciation.—(
income
interest
Net
Other
$5,163,300
14,482
$5,313,251
_____
'Z~—
_—
$5,177,782
1,069,035
28,074
$4,080,672
charges..
deductions
Net
—V.
2,543,045
income
159, p. 1484.
Provident Mutual Life Insurance Co. of Philadelphia—
Assets Up—
by $7,143,000 during the
first quarter of the year, according to M. A. Linton, President.
New
insurance sold for the quarter amounted to $28,428,000.
Insurance in
force increased by $15,582,000 to $1,070,921,000,
the largest increase
for any corresponding period since 1928—V. 158, p. 22591
Ledger
this
of
assets
company
Public Service Co
of Indiana, Inc.— •Earnings—
.
$7,749,762
revenues
$7,132,424 $28,774,398 $26,375,414
2,988,608
2,807,678
Maintenance
313,684
251,645
1,378,007
10,489,291
1,136,827
Prov.
694,950
692,555
2,702,395
2,687,686
2,199,642
2,061,081
Operaiton
for
State,
depreciation..
local and
miscel.
taxes
Fed.
Fed.
595,035
586,946
surtax.
280,867
362,267
1,851,612
1,318,867
profits taxes
1,564,980
397,740
1,364,934
Excess
and
516,863
tax
operating
income
Int.
&
1943
21,181
23,080
1942
42,723
42,191
of sales and other expenses—
$1,730,090
1,251,395
$1,307,048
938,578
$2,370,260
1,384,781
$478,695
125,038
$368,470
126,067'
$985,479
229,876
137,644
622,130
$123,781
$0.33
$104,759
$0.27
$237;522
$0.68
sales
Pulp
Net
sales
Provision
Net
(tons)____.__;—__
(tons)..
other revenue
and
1
—
.
Federal
for
profit
:1_
taxes
:
share
:
125,827;
159, p. 1151.
2,140,425
has
debentures to an
other
$5,920,459
54,940
income
$1,311,639
$1,516,731
$5,609,393
22,464
19,379
87,794
$1,334,103
$1,536,110
$5,697,186
620,749
760,819
2,875,905
3,127,504
$713,353
$775,291
$2,821,282
$2,847,895
deducts—
of
serial notes to the First Na¬
Chicago. The deben¬
1-10-year l7/a%
Bank, Chicago, and the Northern Trust Co.,
tion
the Securities Act and are expected to
reach the market in July after completion of the Fifth War Loan Drive.
The l7/a% serial notes mature in equal annual amounts in the years
1945 to 1954.
The 20-year. 25/a% debentures will have a sinking fund
providing for the retirement of $300,000 of the debentures annually
commencing in 1955.
Thus, of the total of $15,000,000 of financing,
the serial maturities and sinking fund will retire more than 50% prior
to the maturity of the debentures in 1964.
Proceeds of the issue of debentures and serial notes are intended
are
to be registered under
provide for possible future requirements of the business.
At June
30, 1943, which was the date of the company's latest annual report,'
net current assets amounted to $24,405,045.
There was no funded
debt.
Capital, surplus and surplus reserves aggregated $51,993,824.
The
debentures to be distributed by the underwriting group
will
to
represent the first publicly offered obligation in the more than 40-year
of the company.
The present company was incorporated in
1901 and some of its predecessors date back to 1854.
In addition to Harriman Ripley & Co.,
Inc., other included in the
underwriting the 2%% debentures are: Mellon Securities Corp.;
Merrill Lynch, Pierce, Fenner & Beane; Glore, Forgan & Co.; William
Blair & Co.; Harris, Hall & Co., Inc.; Hornblower & Weeks; The Wis-consin Co.; Bacon, Whipple & Co.; Alex. Brown & Sons; Estabrook &
Co.; Stein Bros. & Boyce; Whiting, Weeks & Stubbs, Inc.; Farwell,
Chapman & Co., and Kebbon, McCormick & Co.—V. 158, p. 2259.
group
$5,975,399
income
_________
$0.77
for depreciation, income and excess profits taxes
tAfter providing $1,877,750 for estimated Federal
providing
contingencies.
for post¬
$2,066,800 (net
profits
$276,000 for post-war adjustments and other contingencies.
Radio-Keith-Orpheum Corp.—Registers With
SEC—
Corporation announced May 18 that it has filed a registration state¬
with the Securities and Exchange Commission covering 57,337
ment
shares
of
its
6%
statement
Corp.
stock, cumulative ($100 par), convertible
All of the shares covered by the registra¬
outstanding and are owned by Atlas
preferred
before April 11,
or
tion
are
1947.
issued
and
and
Such shares are to be sold by Atlas Corp. and Radio-Keith will
of the proceeds from the sale thereof. Lehman Brothers
Sachs & Co. are to head the underwriting group.
The
Goldman,
Foreign Exchange Rates
Pursuant to the requirements of Section 522 of the Tariff Act of 1930,
refund
post-war refund of $201,000) for Federal income and excess
taxes and
profits
excess
directors
The
share
per
tAfter
taxes."
Dividend—
FOREIGN
EXCHANGE
■!>
RATES
CERTIFIED
the Federal Reserve Bank is now cer¬
BY
FEDERAL
RESERVE
different countries of the
Noon
Country and Monetary Unit
Free_
.-V":
May 13
in United
~
.
...
.2977.33*
.297733*
_
____
I„ZZZIZ
Z"~
--..---ZIZIZZZIZZZIZZZ
.251247*
.251247*
3.228000
3.228000
.297733*
.251247*
TARIFF ACT OF 1930
'
v:( :.,.y(
in New York
the .common stock, po par value,'payable June 12 toMay 26.
A like amount was paid on March 15, last.y
.on.
Payments in
1943
were
19340
Red Bank Oil Co.—Earns
Profit—
a
Free
_ZZ
"Z
~~ ""™——
Z(___
May 17
:
.297733*
-
$
::
v
/.
May 18
;■
$
i.
1943 was the first year since 1930 that the company
profit.
'
Free
Colombia, peso__
_Z-ZZZ-_ZZZZZZZZZ.~ZI
England, pound sterling
__Z_Z~II"ZZZII__~~Z
India (British), rupee___
~Z~ZZ~~
Mexico, peso__,
Newfoundland, dollar—~~~
~~
'
.0-
Official
Free
____
;
Zealand, pound__
_"ZIZZZZZZI~Z~~
"
ZZZIZIIIZZZIZIZZZZ"
Union of South Africa, pound
Uruguay,
.060586*
.251247*
.251247*
.(,
3.228000
,
3.228000
...
"
~
peso—
Controlled
Noncontrolled
.051275*
.051275*.
.051275*
.909090
.90n09Q
.907968
.906328
.572766*
.572766*
.572766*
.572766*
.060586*
.051275*
.051275*
.909090
.909090
.906875
; V:
.909090
.906875
r
.906875"
'
.572766*
.572766*
4.035000
4.035000
4.035000
4.035000
4.035000
4.035000
.301215
.301215
.301215
.301215
.301215
.301215
.205820
.205820
.205820
.205820
.205820
.9090Q0
.909090
.900090
.909090
.909090
,
»
leases covering 1,112 acres in Southwest Texas, for a considerationr
134,370 shares of Red Bank common stock.
Federal Steel Products Corp., which owns and operates two,-
gas
of
$74,810 cash and
The
plants,
last
in Dallas and one in Houston, Texas, was also acquired'
The Dallas plant is presently manufacturing ammunition;
Houston mant, formerly known as the Dedman Foundry'
one
year.
and the
cases
Machine
Co.,
Federal
making
Under the agreement by(
$20,446 and deliver'
castings.
steel
acquired,
Red
is
was
to pay
Bank is
.'7
-
•
Bank, states that the Houston
and that net profits be- fore taxes for the first three months of 1944 were approximately $105,- *
000.
Before the war the Dedman plant was engaged principally in the ■
manufacture of the oil field equipment, and machinery has been re¬
cently purchased which will increase the plant's capacity in that line.
All of the properties of the Red Bank Oil Co. located in the State
of Texas as well as all royalties in Texas properties have been trans¬
ferred to the Red Bank Refining Co.. a wholly-owned subsidiary organ¬
ized in Texas,
as
the management believes that operations can be
conducted more efficiently and economically through a Texas corpora¬
Frank
and
M.
tion.—V.
President of Red
Bennett,
Dallas
plants
159,
operating at capacity
are
1390.
p.
,
,
Offered—Floyd
Co., Cleveland, O.—Stock
Chicago, recently offered at $3.75 per share
25,000 shares of common stock ($1 par). The issue does*
not represent new financing.
Transfer
and registrar, Metropolitan Trust Co.,
agent
incorporated in Delaware, Aug. 9, 1937,
Company was
as
of June
Chicago, v
and acquired,*
1937, all of the business and assets of every
30,
"kind, sub¬
of the Reed Drug Co. (Wise.), and all
stock of the Fay Drug Co. (111.), and The
Wood Drug Co. (111.).
Subsequently Fay Drug Co. and Wood Drug Co.
conveyed all of their assets, other than leases (subject to liabilities),
to the company, and all profits from their present operations accrueject
of
outstanding liabilities
to
outstanding capital
the
directly to Reed Drug Co.
of retail
maintaining and operating a chain
Company is engaged in
drug stores located in Milwaukee, West Allis, Racine, Kenosha, and
Janesville, Wis.; Chicago, Rockford and Springfield, 111., and Gary,Ind., through which it sells at retail, drugs, pharmaceutical products,
smoking materials,
candy, specialties and sundries.
Neither sodafountains
lunch
nor
counters
are
maintained in
of the stores.
any
Net Earn.
Aft. Taxes
Com.
Com.
.$119,337
$26,771
$92,565
$0.75
$0.35
118,598
22,879
95,719
0.70
0.35
0.72
0.42 J/2
0.33
0.40
Taxes
$2,060,551
1938__
Per. Sh.
Per Sh.
Prov. for
Inc. Taxes
Bef. Inc
Sales
"1937_
Divs.
Earns.
Net Earnings
Year—
.
Calendar Years
Sales, Earnings and Dividends for
2,183,856
2,264,182
132,004
27,687
104,316
2.388.746
82.468
21,978
60,489
*.■
37,000
108,593
2,542,775
2,695.960
168,346
t72,100
96,246
0.64
0.27Va
2,748,610
168,166
$76,724
91,441
0.59
0.30
1943
A
predecessor companies.
of
months
six
quarterly, dividend of 7Vi>
April
.904375
.905416
.903958
.904375
Capitalization
as
at Dec. 31, 1943
Authorized Outstand'g
(par $1)
Common
stock
,
conversion of class A stock'out¬
A stock authorized but unissued.'
vZ/'Z'V --:'^vV'Z ZZ 'v';'-' ' :'Z'v ■"<■• v;'^
- •>
Reliance Insurance Go. of
directors
usual
on
May
Phila,—Regular Dividend—
declared
12
the
usual
semi-annual dividend
payable June 15 to
per'share on the capital .stock, par $10,
record
of
08,455
116,545
10.000 shares of class
1290.
159, p.
holders
—
r__
63,455 shares reserved for
"Includes
standing and
—V-
(shares)
(par $1)
75,000
"200,000
(shares)
May
On Dec.
19.
and the;
paid.—V. 159, p. 774.
cents per share were
of 30
15 an extra of 30 cents
3.244203
3.244203
3.244203
3.980000
3.980000
(& Subs.)—Earnings-
Republic Petroleum Co.
.658300*
.658300*
.658300*
.658300*
.658300*
.658300*
.529640*
.529640*
.529640"
.529640*
(529640*
.529640*
'■<■}
.
$204,019
85,384
$136,776
$130,957
$118,635
$72,753
02,110
02,445'
.
net of other
.
: -
.
.
$16.0,174
', 87,421
:
65,899
59,314,
22,113
15,058
18,243-
$41,886
*
Ur2,244
19,638
;
Cr3,936
79,189
;incpme—r--
$45,189
$46,373
t$3,232-
9,827
8,921
5,692'
for depl„'depr. &
'amortization
profit
__________
Minority interest
Net
t:
93,947.
Profit
Prov.
,
'1941
1942
$224,904
Oper. & gen. exps
exp„
' '''
1136,715
Operating irevenue;
Other
1943 :*
1944
,;S.$273,491
/■
.904375
3.244203
3.980000
shares was made
1944.
Four such quarterly
cents, was paid in 1943.
cents on the common
1944. to stock of record March 24,
cents each, or a total of 30
1,
Net
3.244203
3.980000
-
tCompany had no
taxable excess profits because of excess profits credits carried forward
from prior years.
Without benefit of these, Federal taxes would have*
been
approximately $29,700 greater, with a corresponding reduction
in profits.
$For the first time the company is subject to excess profitstaxes, having exhausted prior years' credits carried over.
The amount
of such credit applied was approximately $23,000.
"Includes
.909090
.903750
3.980000
-
,
0.12'/2
0.42
71,593
1941
Taxes
3.244203
3.980000
•
.
.205820
"
•
ZZZ_Z~ZZIZ.ZZZZZZZ.-Z.ZZ'
•Nominal rate.
,060586*
.060586*
.906250
_ _ __
:
has shown-
„
During 1943 the company acquired more than 50% of the outstanding
common stock of the Seatex Oil Co., which owns and operates oil and
"3 Mos. End. Mar..31—
.051275*
Official
'
.
.297733*
.297733*
V
.251247*
3.228000
.909090
.
Canada, dollar—
New
.060586*
.060586*
v
earnings before taxes ;for the year endingj
Dec. 31, 1943, of $173,407, the. greater portion of which was earned
during the last three months of the year.
It is announced that the
reports
company
The
Brazil, .cruzeiro—
•Official
and Sept. 15,
15, June 15
March
follows.:
as
37Va cents each; and Dec. 15, $1.—V. 159, p. 1485.
of 30 cents
May 16
May 15
3.228000
v\!7vZ
States Money
!
Australia, pound
.
Buying Rate for Cable Transfers
Value
May 12
Argentina, peso—
Official
:
ZZ/VZ-ZZZv'
TO TREASURY UNDER
BANK
May 12 TO MAY 18, 1944, INCLUSIVE
-.
dividend of 37!/2 cents
May 17 declared a quarterly,
on
_
V
holders of record
Class A convertible stock
tifying daily to the Secretary of the Treasury the buying rate for cable transfers in the
world.
We give below a record for the week just passed:
V.1
providing
war
a
of
No credit has been included
profits taxes.
excess
dividends of V/2
•••■'
1941
$573,283*
$0.91.
1942
$485,619
$0.75
stk.,
cap.
1942__
not receive any
Net
"After
and
1943
f$468,532
$0.78
-
D. Cerf Co.,
arranged for the sale of $10,000,000 of 20-year 25/a %
underwriting group headed by Harriman Ripley & ,Co.,
and $5,000,000
Inc.,
tures
2,233,963
(net)—
income
income
Reed Drug
Quaker Oats Co.—Financing Arranged—
Company
on
Gross
_______
1944
v28,320
28,585
Quarters Ended March 31—
Pulp production
129,500
surtax.
profits
Net
Other
&
1944
$$491,329
Quarter End. Mar. 31—
"Net
Earn,, per sh.
&
397,740
normal
excess
Normal
11,527,990
Quarter— *
For
Inc.—Earnings
150,000 shares of Red Bank common.
history
1944—12 Mos—1943
1944—3 Mos—1943
Period End. Mar. 31—
Operating
increased
'
(Including Domestic Subsidiaries)
which
Co.—Earnings—
Puget Sound Pulp & Timber
2,894,143
2,181,983
$5,282,390
30,861
cumulative preferred stock, payable on
15.—V. 159, p. 1801.
the 6%
on
15 to holders of record June
—V.
_______
:
revenue—
non-oper,
Gross
share
Earnings per common
$4,061,766
for
operating revenue—;
per
before July
1,603,426
64,131
Provision
Total
cents
paid
1,024,663
1,187,353
income
of 25 cents per share
of the current year,
or
2,434,660
taxes______
for
16 declared a dividend
for the second quarter
before June 30 to holders of record June 1.
A like
on March 31, last, and in each quarter during 1943.
directors also declared the usual monthly dividend for July of
on
was
or
stock,
Common
payable
amount
50
May
1,619,158
taxes
income
Provision
Net
the
on
1,286,803
___
other than
automobiles.
by
Upon approval of the Secretary of State of New Jersey, the name of.
Plan Corp. will be changed to Employees Personal Loan Co. of
Elizabeth.
The automobile type lending will be
continued, but the*
business will be expanded to include the general lending business of a:
small loan company with loans secured by chattel mortgages on house¬
hold goods and straight notes.—V. 159, p. 1801.
year
Jersey—Dividends—
Corp. of New
Operating profit
$22,750,672 $21,394,530
9,584,613
8,527,013
:
Operating expenses
Maintenance
Taxes,
$764,315
1868.
Depreciation
1943
1944
revenue
requirements.
directors
The
Cost
Co.—Earnings—
Potomac Electric Power
12 Months Ended March 31—
Operating
amounted
1944,
31,
$3,713,328.
preferred
430,167
430,167
r
and
v
Motor
a
$752,046
stocks
pfd.
to
accumulated
"Dividends
to
_
Public Service
The
$91,963
charges
income
•Divs.
div.
159. p.
on
revenues..
income
(net)
oper.
Other
Pfd.
—V.
140
$133,060
appr.
Amort, of Ltd.-term inv.
Net
income
329,167
retire,
Prop,
Net
114,254
taxes
Other
secured
The
1944—12 Mas—1943
revenues
taxes
^
1
corporation acquired 100%
this
1944,
To Pay 37 Vz-Cent
Portland Gas & Coke Co.—EarningsOperating
Operating
amendment.
by
;t.
of
.
1944—Month—1943
v..
■
of the issued and
1140;
East Jersey St., Elizabeth, N. J., which has been engaged in the small,,
loan business since 1936" and has specialized m loans to individuals
secured by automobiles.
As of May l, 1944, notes receivable amounted
to $68,475.84, represented by 486 accounts, all but 5C of which were,
May 1,
income and
1942
$129,519
-
•>.
Railroad Employees? Corp.—Expansion—>
On
par)
(no
169,742
169,742
169,742
$0.83
$0.76
$0.75
Federal income taxes.
income taxes for the quarter ended March 31 aggre¬
in 1944, $300,000 in 1943, and $129,015 in 1942.—
outstanding
Earnings
stock
capital
1943
$140,558
March 31—
3 Months Ended
♦Net
Shares
power
depreciation.
(other than Fed.
'
.
supplied
to be
are
■
.
Raybestos-Manhattan,
1944—12 Mos—1943
$9,818,148 $9,453,215
3,428,802
3,323,409
214,527
180,922
623,964
522,151
947,237
950,993
1944—Month—1943
$785,468
217,380
14,946
$819,172
231,725
14,719
for
taxes
Pocahontas Co.—Earnings—
Creek
___
Maintenance
'Prov.
158,
Taxes
Pond
revenues
Operation
underwriters
other
159, p. 1484. /,
outstanding stock of Motor Flan Corp., a New Jersey corporation,
Public Service Co. of New Hampshire—Earnings—
Period End. April 30—
;
New Pres. of Subsidiary-
$9,792,000; unsecured notes, $576,-
profits taxes, $5,237,812; accrued interest,
rent liabilities,
$56,741; deferred credits,
1942
$525,258
3 Months Ended March 31—
"Consolidated net profit
Outstanding
(1,107,77^ shares no
accounts payable, $1,557,833; customers' deposits, $707,121; ac*
taxes—State, local, etc., $2,030,176; Federal income and excess
000;
crued
Plymouth
stock
preferred stock (par $100), $14,818,590;
par), $27,694,445; first mortgage
cumulative
Liabilities—5%
common
bonds, $59,671,500* unsecured notes,
—V.
the
of
names
1944
Sheet, March 31,
Balance
period ended March 31, 1944, was computed at the rate
profits of subsidiary companies.
The corporation and its
Monday, May 22, 1944
CHRONICLE
profit,
Petroleum
■-
Republic
$41,886
Co.
$0.12
Earnings per share__
-§After
series A.
60,187-
dividends
on
5J/2%
$35,361
§$0.10
cumulative
\
$37,452 v
$$8,924
§$0.10
Nil
preferred stock
convertible
fLoss.—V. 158, p. 2196.
i
Volume
and Loss
and Profit
1'943
Dec. 31,'43
Gross sales
Cost
of
'
soldJ—__
goods
6,201,689
Selling, admin, and gen¬
eral expenses, etc
Provision
Operating
12,600
receivables
Balance
40,900
18,900
16,800
$2,499,224
$952,785
$797,167
1
earnings
Other
_—___—
income
Total
11,858
37,088
7,708
$2,506,932
■$968,624
1,858
781
13,851
32,524
tax—.
102,000
145,000
400,000
244,000
Excess
profits
tax
Adjust. Jor. prior years_.
t450,000
Cr32,106
1,225,000
Crl4,527
Crl,075
80,160
Int.
fund,
on
debt,
SNormal Fed.
Prov.
for
inc.
etc.
$508,500
and
conting.
173,000
'
vLv-
income
,
Bal.
$302,315
$287,272.
profit
$520,175
$807,608
Ol
.1,358,087
825,393
444,080
$1,729,717
at
$1,660,403
$1,633,001
$964,256
*-*
begin, of period
[
I
Total
Divs.
on
pref.
Divs.
on
common
24,319
32,865
242,049
$1,632,897 t $1,442,445 ' $1,358,087
$825,394
(2,000 shares no par); $50,000; first mort¬
stock
;
6tock
96~820.
Rochester
from Albany,
period
"■Less
allowances, discounts and freight.
tLess post-war refund of $56,500.
$50,000.
•
Operating
$532,654
;yX'''V
;.y
$576,896
$543,976
$561,269
rev._
349
658
343
;658
revenues-
$576,547
$543,318
$560,926
$531,996
____
361,340
336,869
363,959
328,930
97,120
91,287
97,007
91,253
$118,087
$115,162
$99,960
$111,813
91,648
88,384
73,006
trade
—
J
Operating expenses
Operating taxes
U. S. Government securities, at cost, $800,$658,492;. inventory steel- sheets, strip, etc.,
receivables,
subsidiary not consolidated (at
profits tax, $113,199; cash sur¬
miscellaneous accounts receiv¬
able, $11,216; property, plant and equipment, at cost (less reserves for
depreciation of $297,912), $672,246; deferred charges, $92,935; total,
$1,345,064;
cost),
Canadian
in
investment
post-war refund of
$500;
value
render
life
of
$4,256,370.
..
Net
V/".
;7^v,-
.v';./;
.
for
$484,098:
$4,256,370.—V.
surplus.
159,
$175,000; capital stock (par $2),
earned surplus, $1,690,446; total,
adjustments,
post-war
canital
Operating
$728,400;
revenues
Operating
-
per
>After
1942
260,000
Net.
2,150,000
*$433,300
$884,152
$0.21
_
$0.56
$995,658
$0.64
159, p.
This
sold
has
company
our Spring
Division,
business, and the introduction of new lines' of
manufactured products at the conclusion of the war.
The sale of this
property places the Reynolds Spring Co. in a position to. accomplish
these undertakings without the necessity of new financing.
"Our post-war plans call for complete new machinery for our Spring
Division plant in Los Angeles,
the property having been purchased
.last year, and now engaged in war work, and the reopening of a new
plant in the East.
The resumption of normal activities by these plants
of the Spring Division will provide the company with proper facilities
to meet the expected increased demand for its products together with
.an
expansion of our agricultural implement department and other
new lines
of manufacture now contemplated."
*
See also Continental Can Co., Inc., above.—V. 159, p. 1189.
farm
implement
,
Large Shell Contract—
Rheem Mfg. Co.—Receives
As
this
artillery program,
a' contract from Army Ordnance totaling
than 1,000,000
announced on
This, he said, is the largest ordnance contract Rheem has
company
has
received
approximately $16,000,000 for the manufacture of more
heavy artillery shells, L; B. Keplinger, Vice-President,
•May
4.
to
received
-
date.
'
.
placed by the Philadelphia Ordnance District, will be
filled by Rheem's Danville, Pa., plant.
This plant has been operated
:by Rheem under lease from the Navy and has been machining propul¬
sion shafting for combat and landing craft at a record rate.
As soon
as
the Navy released the plant to the Army and agreed to its con¬
version, engineers from Rheem's plants in Birmingham
and New
Orleans, where the company has been forging and finishing artillery
'and mortar shells for more than two years, started the preparatory
The
order,
forging and special
•work for installing the heavy
machining equipment
•required.
1
not permitted to disclose figures on the planned
rate of production, but it will use the entire 135.000 snuare feet of
plant area to house- two completely integrated high-speed lines which
will
convert
special steel billets into shells ready for the loading
'plants,—V. 159. p. 1868.:
'../v ...;'.V"--''
The
Rhode
-
is
company
Island
A
committee
in
Service
Public
Co.
—
Solicitation of
the
owners
of $2 preferred stock
England
C.
Power
Chairman:
$284,154
232,008
202,821
Co.
Subs.)—Earnings—
(&
The company is a subsidiary of the
System.
Committee members are Godfrey B.
Edward E. Aldrich, George F. Bliven, Russell
R. I., and
Harrington and Charles B. McGowan, all of Providence,
H, Brooks of Pawtucket, R. I,—V. 151, p. 427.
F'-iiFF' 1944
'•
Herbert
1943
$80,034
$0.21
$195,803
$0.55
•
depletion, interest and a provision of $160,358
in 1943 for income and excess profits taxes.
tOn
shares.—V. 159, p. 1189.
depreciation,
Steel Corp.—Earnings—
1944
1943
$8,216,107
$9,172,420
5,851,125
sales
of
Cost
goods sold
Gross
annually, July 1, 1944, to July 1,1952.
Interstate
The
favorable
...
——
185,087
Other
99,686
39,580
149,629
135,054
8,713
$1,980,241
$3,004,993
76,578
—
59,798
reorganization
a
authority to
£"'<»
'•
•
18,751
22,111
normal
and.surtax.
87,000
'•.yv 87,000
excess
profits tax.
1,396,000
2,112,000
Interest
—
Federal
tFederal
the
issue
old
the
from
erties
given, the Seaboard averred in a
the road to start reorganization pro¬
Bankruptcy Act, This
would result in a duplication of work already done in the receivership
case and delay the reorganization at least two or three years,
it was
.asserted.
The total capitalization and fixed charges provided in the
pending plan meet the standards established by the Commission in
Section 77 cases', the Seaboard argued.
•
h
.
'
The Seaboard's brief brought out that the Commission finance direc¬
tor has suggested several changes in terms of the proposed new securi¬
ties, but that the Seaboard has not been convinced of their necessity.
These changes were proposed:
The pending reorganization plan contemplates a total capitalization
of $196,870,000, compared
with about $300,000,000 capitalization for
the old company.
Fixed interest charges would total $1,746,000 an¬
nually and total charges ahead of dividends would be $6,321,000.—
brief,
it
Net
11,000
——
Earnings per common
•After
deducting
share—______
returns
discount
—
and
ing debt-returned credit and post-war
Note—No
has
provision
which
liability
sales
21,000
$544,068
$0.56
$822,681
$0.86
tax
profit
may
been
result
tAfter deduct¬
allowances.
refund.
be necessary for
may
ceedings all over again, under Section 77 of the
V.
159,
1901.
p.
Sears, Roebuck & Co.- -April Sales Up 2.9%—
Sales
made in the foregoing statement for
from renegotiation of the company's
U.
$5,025,879;
Assets—Cash,
treasury bills
31, 1944
"
:
S. certificates
of indebtedness and
receivable (less reserve for
$2,532,049; inventories, $3,530,369; pre¬
(at cost), $839,994: accounts
accounts of $116,563),
doubtful
paid expenses and deferred charges, $132,570; post-war refund of ex¬
taxes, $991,000; investments in and advances to whollyowned subsidiaries not consolidated (less reserve of $67,101), $67,900;
cess-profits
—V.
1802.
159, p.
Seatex Oil Co., Dallas, Tex.—Controlsee
Bank
Red
$384,209; fixed assets (including $3,689,286
being amortized over five years; amortization reserve, $1,917,692), $4,940,681; patents (nominal value), $2; total, $18,444,652.
payable, $684,600; accrued taxes (other than
profits taxes), pay roll, etc., $856,260; re¬
for Federal income and excess profits taxes (less U. S. Treasury
Liabilities—Accounts
Federal
serve
income
and
excess
certificates of indebtedness,
tax notes and
and accrued interest thereon
$4,027,525; 15-year 314% sinking fund debentures, in¬
stallment due in 1944, $150,000; 15-year 3I/4% sinking fund debentures,
of
$4,923,543),
bank (214%) in connection with emer¬
gency plant facilities contract, $384,209; reserve for post-war adjust¬
ments of inventories and other assets, $640,000; preferred stock (36,512
no par shares),
$1,825,600; common stock (par $1), $926,547; capital
Surplus
(unchanged since- Dec. 31, 1943), $657,773; earned surplus
since Jan. 1, 1936, $6,942,232; held in treasury, $53; total, $18,444,652.
—v. 159, p. 1698.
vy'
'viy;-."';
notes
$1,350,000;
payable
to
RR.—Verdict
April 27 reversed
the Federal District Court-of Vermont denying a petition
decision of
the
of
ruptcy
company
for
reorganization
under
York
Section
laws.
v.'.-'
The court's decision, embodied in qn
on
77
of. the
bank¬
■:
Frank,
held
that
2621.
profits
excess
income
Net
_______
—___________
Total
254,010
94,500
342,891
99,000
$83,239
$116,099
369,104
10,035
taxes—*.-
begin, of period-
at
Balance
189,822
$85,219
charges
&
1942
$747,812
81,350
297,513
232,274
$490,175
93,805
225,932
85,219
expenses
oper.
inc.
Fed.
1943
$513,099
1944
March 31—
interest, etc
Direct income
:
common
21,539
20,846
31,210
62,420
$328,594
on
21,002
31,225
Divs.
dividend
$328,002
$265,107
187,500
156,051
156,051
$0.34
$0.39
$0.61
stock
t83,538
common.
on
Balance, March 31_—
(par $4)__
shares outstdg.
Common
;
Earnings: per' common share.
Balance
Assets—Cash
bank
in
paid-in
to
charged
$41,462
deducting
tAfter
$348,373
*
"
preferred stock—
Stock
>
$380,752
$464,359 "
•——
on
Sheet, March 31,
and
1944
$1,212,455;
hand,
on
surplus.
U.
Government
S.
obligations, $2,746,000; notes receivable, $3,432,989; accounts receivable
and automotive replacement materials, etc., $12,795; repossessed auto¬
mobiles,
officer,
paid
etc., $1,046; cash surrender value of insurance on life of
$25,733; sinking fund deposit, $498; deferred charges and pre¬
$45,206; post-war refund of excess
(net), $134,098; total, $7,612,356.
expenses,
fixed assets
Liabilities—Notes payable, $4,295,000;
profits tax, $1,535;
|
M
dividends payable (paid Apr. 1,
and accrued items, $229,322; dealers'
participating loss reserves, $147,612; reserve for credit losses, $100,000;
deferred income, $188,561; mortgage payable, $116,640; 10-year 4We
convertible debentures, $680,500; 6%
cumulative (par $25), $750,000;
common
stock
(par $4), $750,000; earned
surplus, $328,594; total,
$7,612,356.—V. 159, p. 1190.
1944), $26,126; accounts payable
Shattuck Co. (& Subs.)- -Earnings-
(Frank G.)
•Net
$103,524
$97,672
1,119,500
$0.28
par)
per
$238,523
1,120.000
$0.21
1,150,000
$0.09
1,200,000
$0.08
outstdg.
cap.
Earnings
share
:
income and excess
(1944, $495,312; 1943, $335,000)—V. 158, p. 2475.
•After
1941
1942
$320,208
profit
stk.
Shs.
1943
1944
3 Mos. End. Mar. 31—
(no
opinion written by Judge Jerome
the equity receivership contained irregularities
and inadequacies which might be corrected by Section 77 proceedings.
It directed the lower court to delay action to give others an oppor¬
N.
158, p.
Securities Acceptance Corp.—Earnings6 Months Ended
Earned discount,
Reversed—Rehearing Asked—
The U. S. Circuit Court of Appeals in New
a
above—V.
Co.
Oil
plant facilities,
emergency
73,324,884 214,197,595 197,521,806
75,428,461
-
Divs.
Sheet, March
1944—3 Mos—1943
1944- -Month—1943
Period End. Apr. 30—
Adjustments
contracts.
Balance
is
approval
General
income
State
securities and to acquire the prop¬
necessary
company.
Commission
$3,064,791
_____—^___.
7 V'1'.
Commission was urged May 9 to speed
issues and other details necessary to
securities
on
of the company,
A recapitalization plan for
the Seaboard has been approved by the Virginia and Florida District
Courts and a new company, Seaboard Railway, has asked the ICC for
effect
9,683
administrative expenses—__
and
income
■"'* *
Total
-I
$3,288,996
V'-
41,313
—
doubtful accounts—
for
Total
-
$2,364,982
$2,056,819
general
Hasten Reorganization Action—
Commerce
action
5,883,425
—
profit
Provision
of the
ings now being heard bv the'SEC.
New
$312,383
29,632
share
per
Rutland
of
behalf
asked the SEC on Mav 9 for permission to solicit proxies
and to represent the preferred stockholders in simplification proceed¬
company
■Simonds,
$57,179
67,354
Petroleum
common
•Gross
Proxies Asked—
'
$94,336
_
Rustless Iron &
part of the Army's drive to step up its heavy
a
272,691
3 Months Ended March 31—•
•:
any
'
1,065,230
96,969
291,096
1944 and $92,600
336,045
Other
Plastics Division located at Cambridge,
its
step was taken with a view to expanding
"This
$1,622,075
1,113,845
90,151
Selling expense—-—
Taxes, other than income taxes
Ohio, to the Continental Can Co., Inc., according to an announcement
made on May 15 by Charles G. Munn, President, who further said:
our
$1,717,324
399,431
profit
976.
Reynolds Spring Co.—Sells Plastics Division—
'
$546,761
income
operating
_v
•After
$1,053,747
$1.20
share_
interest,
settlement.—V.
•Net
in
-
3,950,000
v
depreciation and other charges, and in 1944 pro¬
vision for contingencies amounting to $260,000.
tExcluding post-war
refunds of excess profits tax, the estimated amount of which for 1944
is
reflected
in
reserve
for contingencies.
tSubject to renegotiation
t
1,948
/,
388,546
—_
taxes
income
Net
$3,203,747
$4,945,658
—
4,745,000
t3.830,000
com.
$5,629,152
$4,523,300
contingencies-
profit '.
Net
632
$579,851
revenues-
expenses
tEarnings
.Federal taxes
Earns,
1943
1944
—
for
;
Quarter Ended March 31—
1941
Federal
taxes
Prov.
*
■
The certificates mature $114,000 semi¬
1,85%.
mately
Unless
Inc.—Earnings—
&• Brass,
Copper
before
337
LL, presently outstanding. The certificates were
purchased from the Reconstruction Finance Corporation
at 103.4729 and accrued interest, a yield of approxi¬
series
ICC Urged to
$1,624,023
2014.
p.
Quar. End. Mar. 31—
■♦Profit
$1,718,353
1,029
$547,393
$580,188
___
Uncollectible oper rev.—
Operating
Operating
Ry.—Equipment Trust Sold—Hall-
garten & Co. have bought, and placed privately, $1,938,000 2%% (receivers') equipment trust certificates,
1944—3 Mos.—1943
1944—Month—1943
Period End. Mar. 31—
Root
Revere
income
Income
Net
F-sK
payable,, trade,
payrolls'- -and sundry items,
$379,895; amount due United States on closed settlement of renegotiar
lion of profits, $40,000; accrued taxes (other than income), $126,611;
Federal taxes on income, $607,655; reserves for contingencies, $24,264;
.reserves
operating
excess
$8,527;
insurance,
Liabilities—Accounts
:
1
'
;
'
/'
York, Kentucky and
New
84,805
revenues
Uncollectible oper.
Assets—Cash, $554,170;
022;
in
theaters
150
Seaboard Air Line
1944—Feb.—1943
1944—Jan .—1943
Operating
Sheet, Feb. 29, 1944
Balance
f <
fLess post-war
§Includes sur¬
profits tax.
declared value excess
and
than
*
•
>
.
more
the
Schine Brothers, J. Meyer and Louis W., of
Gloversville, N. Y., who entered the hotel business last winter with
the purchase of the Roney Plaza Hotel and the Boca Raton Club in
southern Florida, said the dispatch—V. 141, p. 3549,
_______
tax,
returns,
of
N. Y.
of
chain
is directed by
Ohio,
Corp.—Earnings—
Telephone
Month of—
Bal. at" close of
refund
had under advisement
Brennan
W.
an
Ten
financial
The
Stephen
Judge
offer by the Schine theater chain to purchase the
Eyck Hotel, now under trusteeship pending proposed
reorganization, 'according to an Asspciated Press dispatch
16
400-room
liabilities, $106,623; deferred liabilities,
$12,462; depreciation reserves, $727,251; other reserves, $1,267; con¬
tributions in aid of construction, $48,950; donated surplus, $1,143,333;
earned surplus, $1,290,658; total, $5,293,544.—V. 159, p. 642.
97,615
Gloversville, N. Y.—May
Hotel—
41,247
193,639
District
May
on
current
$803,000;
1944—4 Mos—1943
$5,793,554 $5,832,167
$1,969,479
Schine Chain Theatres, Inc.,
Federal
,5%gold bonds, maturity extended to March 1, 1951, $1,110,000;
to
New York Water Service Corp.—loan
account (non-interest
bearing),
Off 8.67%—
1944—Month—1943
$1,706,480
——
Purchase Albany
$58,498;
.Liabilities—Common stock
holders
—V. 159, P. 1597.
1944
accrued utility revenue, $25,906; materials and sup¬
plies—priced at average cost, $27,938; prepaid taxes, insurance, etc.,
$11,230; deferred charges, $1,807; total, $5,293,5,44.
due
Net
Sales
Assets—Utility plant, including intangibles, $5,077,976; miscellaneous
special deposits, $1,323; cash, $68,866; U. S. Treasury
(at cost>, $20,000;
accounts receivable, less reserve of
gage
'
notified
the hotel property from Oct. 1, 1946, to Oct. 1, ;
Schiff Co.—April Sales
$118,919
Certificates
$3,929,
has
corporation
income bonds due 1956 that an agreement
the Metropolitan Life Insurance Co. extend¬
$2,800,000.—V. 159, p. 386,
Investments and
.."-''iv
75,000
24,000
adjustments-
postwar
»
9,278
.
with
with interest to be reduced from the present 5% to 4% for the
period, and the principal amount to be $2,400,000 instead
1956,
83,402
$125,275
—1——-—
deductions
of
and
concluded
been
extended
of
4,801
$989,873
i—
stock
common
has
Period End. Apr. 30—
Net
this
committee ,of
executive
$202,320
—_i—_
income
Income
$963,823
$809,025
Other income
Total
80
$205,436
and taxes
expenses
of
*
doubtful
for
$202,241
237
——-
ing the mortgage on
Net
2,127,542
2,270,518
1,788,584
1,643,966
1943
$648,769
446,529
$205,199
revenues
1941
1942
$9,461,433 $13,681,645 $12,836,417
6,703,264
8,893,004
9,704,152
$8,655,421
V
___
Operating
The
1944
$684,391
479,192
Years Ended March 31—
Statement
-Years Ended March 31-
9 Mos. End.
Savoy-Plaza, Inc.—Mortgage Extended—
Rochester & Lake Ontario Water Service Corp.—Earns.
/
Reliance Steel Corp.—EarningsIncome
2123
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
159
Federal
and
depreciation
profits taxes
tunity to file under that section in case the line itself chooses to drop
Richfield Oil Corp.
(& Subs.)— Earnings—■
its
•Sales
—
Other operating
$18,306,163 $13,796,838 $12,350,056
27,038
revenue.
Total
operating
revenue——
Cost of
sales and
services-—•
496,420
2,151,675
1,629,661
286,316
2,534,597
1,564,301
266,481
$2,584,732
$1,531,285
$932,920
17,504
14,155
$2,602,236
—_—
Non-operating income
Total
■
Int.
on
Amort,
income
-
debentures &
of
(net)—
-
$1,545,440
40,844
1,700,000
taxes on income
850,000
23,936
profit
tEarnings per "share.
_
-
_L—_
•
$886,281
.$0.22
•Excluding State and Federal.gasoline and
shares of outstanding capital stock—V.
000
$539,394
$0.13
tOn the 4,010,-
$654,596
$0.16
oil taxes.
159, p. 1801,
1943
1942
1941
$76,570
$88,083
$97,580
10,825
8,308
10,434
10.079
3,573
3,348
3,898
2,514
$72,652
$64,914
$73,761
$84,987
58,493
income
Total
58,493
58,493
58.493
$15,269
$26,495
Expenses
Fed.
stock tax and
cap.
Federal
•Net
earnings
Dividends
.
tax—
income
v'
•
v
______
declared
Surplus
y
'
•
■.
'
of
gains
and losses from securities.
Condensed
Savage Arms Corp.—Earnings-
and
•After
credit
$216,549
$500,529
$501,166
670,860
$0.27
670,860
670,860
167,715
$0.32
$0.74
$2.99
shares___
share____
deducting :Fedetol
and
taxes
of
$121,216; exclusive of post-war
and price renegotiation.—
subject,ita year-end adjustments
159, p. 1190.
March 31, 1944
$5,291,988), $5,957,188; shares of
books,
capital stock of seven suburban banks,
$33,273; accrued Interest receivable, $1,045;
receivable, $17,094; cash in banks, $55,243; total, $7,910,872.
$1,847,029; notes receivable,
•$180,853
taxes
,
V.
1942
1941
profit aft, all chgs.
Outstdg. com
Earnings, per
Balance Sheet,
Assets—Securities, at quoted market prices (aggregate'cost per
1943
1944
Quarter End. Mar. 31—
Net
$6,421
$14,159
—_
•Exclusive
pointed."—V. 159, p. 1802.
300,000
'
Net
of preferred stockholders headed by Frank McNulty to transfer
reorganization from equity to Section 77.
The higher Court's de¬
cision held that the receiver in the case had been "irregularly ap¬
1944
$87,050
3 Mos. End. Mar. 31—
group
the
86,795
debenture discount—^- "
Est. prov. for Fed.
Shawmut Association—Earnings-
a
ganization managers was also a party to the petition,
The Circuit Court, in a defcision by Judge Jerome N. Frank, reversed
the United States District Court which had
denied a petition of a
$950,125
15,955
notes payable
seeking
17,205
& admin, expenses-—-.,;
2.218,570
deple. & amort—_w_--—1,782,471
Dry hole losses & abandonments—
Profit
294,207
201,510
$18,333,201 $13,998,348 $12,644,263
11,251,008
8,399,411
7,345,964
Sell., gen.
Deprec.,
4®42
194<*
4344
'*
1
.
petition.petition
was filed in the Second Circuit Court of Appeals May 11
rehfaring of the Court's recent decision which provided for
transfer of the reorganization from an equity to a Section 77 proceed¬
ing.
The petition was filed on behalf of the bondholders and the
trustees for the road's three bond issues.
The counsel for the reor¬
A
Quarter End. Mar. 31—
.
accounts
Liabilities—Reserve
for
taxes,
$4,062;
value, $5,000,000; capital surplus as per
common
shares
of
no
par
books and annexed statement,
$2,241,610; unrealized appreciation (excess of quoted market over cost)
of
securities, other than bank stocks, $665,200; total, $7,910,872.—
V.
158.
p.
2196.
Monday, May 22, 1944
THE COMMERCIAL & FINANCIAL CHRONICLE
Total
net
Cost
>
of
Gross
Total
sales
profit
_
selling,
Profit
from
$2,111,011
747,164
603.483
$1,351,092
$1,921,965
17,339
$1,763,151
13,540
$1,507,528
13,660
$57,859,040.
-
13,832'
__
income
* i
for Fed. & Canad.
income
Foreign
Prov.
*1,001,055
tax
exch.
for
Net loss
'
adjust—
sale
on
aban-
or
net
per
t826,395
5,321
10,539
.
:V;;':
,
.
stock,
($7.50
stock
'•
198,800
,
"^io« 2nn
198-85°
$1-25
Pr0£*ts 1taxes (less
$0.71
$0.73
Dominion income and excess
President,
Robinson,
$1,371/2
Electric
totaled
of $1,254,600.
$151,800)
of
taxes
Operating
taxes
Net
Net
income
—V.
159,
Gross
profit
;
>'
sales
on
oper.
Sterchl
Operating
taxes
$7,426,889
24,000
Net
profit
Other
38,870
income
159,
The
the
c.1-
Black,
at
$2,429,790
1,620,677
453,758
$7,402,889
5,357,867
1,133,856
$355,355
$911,166
S.. normal
TJ.
S.
income
profits tax
excess
income and
Foreign
27,715
—;—_—;—
tax
___
profits taxes
excess
—
:yy.y
100.518
'
673.620
,
4.929
—
cipal officers
__J_
-income
Net
$361,304
$143,286
.
The
1
Dividends
Outstanding
Earnings
shares
per
of
meeting
annual
to
until
serve
transacted
the
at
the
of
Canadian
subsidiary
V
'
held
the
rates).
1
Sales include service sales
(2)
equipment,
■and
part
administrative
expenses.
To
and $6,441 in 1943
in%anks
Mr.
Liabilities—Accounts
{other),
Inc.
interest
1944,
hand,
on
March 31, 1911
$3,323,874;
(New
rate
York),
2%ti $175,000;
$68,541;
10 and Dec.
Mercier
1944
$0.11
its
general
April
of
—V.
p.
158,
-
Operating
Natural
revenue
^'Provision
State
for
deprec.,
than
income
income
Federal
excess
credit
Net
Other
profits
■
'.y.y
of
^
1,375,140
217,730
Dividends
net
;;
.•
the
etc,
disct., Dremium &
deductioi
...
expense-
income
paid
profits
•
Net
per
21,345
972
39,124
$2,557,578
$2,552,324
1,761,445
1,620,528
-
^
'
■!»
^186,271
$855,886 / $2,941,386
$5,339,582)
209,833
212,842
•1,021.000
189,000
76,000
$457,053
$1,844,386
204,000
1.
$568,096
•
oper.
'1-
'
.
.
$457,053 Z
$568,096
$0.27"
share-
com.
,,;C
"•
Assets—
•
Cash
in banks ahd
Cash
advanced
y
tracts
on
YMar.
U.
securities,
S.
Government
31,'44 Mar. 31, '43
:$6,461,409
series; at cost >1,200,000
at cost—
600,000
investment bank-:'1
to
and
Investments
Other
supplies,-"at.
1,000,000
439,879
"
after
excess
unconsolidated—:iiyft>y l77,713 y • .682,518
securities3,755,990:
4,398,893
and
equipment———.—
v
of
excess' profits
Federal
tax
unadjusted
Liabilities—
Accounts
(per
•
Other
one
I
contract
Capital stock
1944—3 Mos.—1943
■>
93.889
r"—-..yyi—"-
(2,104,391 no par shares)_yr_i—
surplus
6.851,280
22,320,870
19,814,376
9,142,647
8,131.467
$1,626,578
$1,640,981
$4,739,675
$4,924,068
1,320,551
3,789,154
125.700
•-
:r;4,554,875'
4,6To"ooo
80,052
116,636
5,000,000 s
5,000,000
:
3,581,523
—
8,676,663-
3,391,430
$27,293,461 $29,176,743
,
•After
deducting
$2,174,702
in
reserves
for
depreciation of $2,372,304 in 1944 and
deducting reserves for ■ depreciation of
tAfter
1943.
and $277,210
1944
in
1943.
.
Comparative Income Statement (Parent
12 Months Ended March 31—'
Income
from
.
Company Only)
1944
;
subsidiaries.^.——__y—$1,845,878
dividends,
Profit
cn
Taxes,
Co.—Earningsbut
Prov.
1943
sales
interest
of
&
miscell.
investment
income—_
securities
\
259,020
(net).
$1,827,979
$2,666,296
'$5,687,611
1,329,546
taxes
income
1,987,193
income
»
Net
income
tax.
(normal
&
surtax)
-
$1.18
r
li; v
$1.56
stock,
$1,019,101
$2.36
tSubject to renegotiation
iAfter provision for renegotiation on. basis of discussions
place
for
common
year
Cr426
85.209
$1,864,968
'-■
———
Earned surplus at
$$498,433l').1t$679.203
;
share
381,191
60,654
58,000
$1,764,963
income
tax
74,032
$2,330,942
*2,668.510
and
,
252,923
152,925
274,205
•
Federal
■
1943 * ,s
$2,003,987
$2,257,823
expenses-
except
for .Fed.
1942
1944
before
the 421.360 shares of
taken
89,208
62,500
71.108
3,913,297
Federal
per
3,476,214
"8,676,605
Total earnings
digs,
90,000
•
69,770
v ,
liability——
'
surplus
$12,279,815 $11,197,493 $36,203,192 $32,869,911
2,705,232
/
2,514,540
90,000
year-
—
purchase
gas
31,250
2,541,851
liabilities—,
accrued
'
due
Total
2015.
D
due- within
Mortgage loans
Unadjusted credits
Capital
Co.—Earnings—
78,»48
payments
1942.—V.
159,. p;-;1901.
Y
"•('
•
accrued
Natural
1943
-■
31,727
payment
contract
taxes________„_iy_—
for
$1,081,031
800,936
;
year
amort,
Interest
,
"
one
Reserve
JanltoMav7
1944
$1,678,307
purchase
gas
within
'-Jy.-.':y
-
construction'contracts
on
—'
contra)
Natural
'•
:.yv• y.
■
.
payable
by clients
Advances
'
1,291,414
profit
have
167,344
\-v 76,961 :, y-y 68,983 i
1,516,957
—
Dividend
Earned
:1;
paid
surplus at end of period."
Note—No Federal
excess
1.230,282
$3,281,920
beginning of period
,
which
12,964 ;f\;, 86,627
197,000
235,000
$27,293,461 $29,176,743 ;:y,
Mtge.
3,087,469
income-
for
proceedings.
155,836
v,i:
—_
—
refund
Total
Net
"•
and other mineral interests; at cost>' .4. -279,^702 i
•Office buildings, etc., real
>-6,508,885 i- 6,706,488
Other
y ;v.'.y " yy;
„7,565,868
profits taxes
•Earnings
354,926
5,984,740
76,4541/.'(• V;,.T5-.401
subsidiaries
in
investment
Post-war
6,288,529 119,847,386 113,115,651
Quarters Ended March 31-r
Profit
4":•
Natural gas
Operating
Provision
$1.22
;; 'y.y'-yy!
800,936" »y 2.514,540
securities,
incident
"
"
3i'VtYVi'Y;
$6,346,171
construction, cpn- v
on
$2,573,641
$0.88
'
contra >
(per
$2,573,751
no
$1,844,386
$0.22
hftnd_««ii.w^__
clients
by
Prepayments
$
■
25,980
income
159. p.
'921,031
1,844,808
y
Comparative Consolidated Balance Sheet, March
Other
y:
; "
Mav 7
'"1943
1944—Month—1943
revenues—
Square
609,347
1.7-U
183,033
$772,096
income
Earns,
$12,305,895 $11,229,220 $36,282,040 $32,963,800
taxes
Net
187,723
6,219
46,043
-
and
tax.
Other
$3,223,113
13,610
taxes
i."
Other
Cr326,730
580.165
debt.
213,718!
47,735
>
Balance after taxes.
Applie, to minority int.
,
'
y
6,640,025
rev
expenses
•On
Consolidated
authoi-ized
an
-
revenues
Net
$3,035,389
166,823
before
(normal
tax
Excess
yy": ;y"V--';V
oper.
—V.
$3,159,303
C—
—
income
Bonds
Bonded Debt—
2015.
p.
Operating
100,724
1,565,669
!l515,797
53,559
1954—
868.715
,
interest,
debt
Miscellaneous
159.
Operating
3,023,639
718,885
$2,992,480
—_
lon^-term
on
2*864.329
582,222
53,248
debt
surtax)
the bonds are owned by Southern
•.
•
(est.)—
earnings
Operating
retirem't
——
income
Miscellaneous
Amor*sz.
debt
$37,000)
income
Intere"!
—
——
(less
board
8,970,374
2,312,738
154,379
: ■
$289,770 in
354,583
120.203
tax
the
8,776,754
110,868
inc.
of
expense
Balance
-
par
Week Ended
.
Period End. Mar. 31—
361,552
depl. & amortizationtaxes—!
earnings
Gross
that
y-
$3,422,604 $12,697,113 $15,224,880
%
2,004,874
Fed.
amort,
2,163,405
income
taxes—
ry
Collateral
f
April 30 to $14,665,000.
Uncollect,
3,295,676
taxes
Federal
;'r-y,_y-: y
Operating
2,519,895
._y——i—1
other
Taxes,
at
$2,988,821
Exchange Commission
...
••
1943
3,343,804
————-
:
&
Earned
"
/
Corbett,
L.
Henry
$14,704,547 $13,890,542
——
_____———
Maintenance
■.
1944
Offering—
mortgage series A
and
27.
Gross
(& Subs ,)—Earnings—
Gas Co.
———
purchased
gas
Operation
1944,
Southwestern Bell Telephone
12 Months Ended March 31—
executive
During April the company also purchased $40,000 principal amount
its general mortgage 6s of 1956, reducing the amount outstanding
—V.
2475.
Southern Natural
<
the
of
members
Stock
announced
18
1,
1944
$0.09
share
Inc.—Secondary
(& Subs.)—Earnings—
? 1944—3 Mos.—1943
1944—12 Mos.—1943
expenses
Taxes, except
Depreciation •
additional $927,000 principal amount
bonds during April, a report to the
disclosed on May 10.
Bonds of
this issue have been acquired every month this year, but the April
purchases were the heaviest made so far in 1944.
Total retired in the
first four months of .1944 amounted to more than $1,700,000 princioal
amount.
The amount of general mortgage series A bonds outstanding
as of April
30 was $48,049,000.
The report said that the bonds were
purchased with treasury cash and were surrendered
and canceled
803,878
per
Dec.
The company has purchased
of
Securities
$71,371
819,878
—
y% vi-I ;r::
Co.,
&
ing business, at cost______—_—:.__—1,572,456'
Accounts, notes and interest" rtceivabldy-L^y5,532,392
1943
$91,341
Earnings
May
on
on
_
outstanding
shares
Brothers
earnings
Operating
Int.
Chickering,
L.
Pacific
Central
Redeem
Period—
Capital
since.—V. 158, p. 2197.
yV
Period End. Mar. 31— /
Gross
tFurniture
Sonatone Corp.—Earnings—■
,
Allen
Southern Ry.—Reduces
stock, $100; reserve for branch offiee fire
for unrealized losses on foreign exchange,
post-war contingencies, $100,000; $6 cumulative
Quarter Ended March 31—
y.; J/ y
Net profit after charges and Fed. taxes———
none
Materials
on
;
14, 1943;
;/
Stone & Webster, Inc.
.
accrued Federal income and excess
-
'<
May 15 declared a dividend of .25 cents per share
stock, par $10, payable June 10 to holders of record
Similar distributions were made on: this issue on Jan. 22#
on
offering has been oversubscribed.—V. 159, p. 2622.
The directors on May 18 declared an extra dividend of 25 cents per
and a quarterly dividend of 50 cents per share on the capital
no par value, both payable June 21 to holders of record May 29.
A quarterly payment of 50 cents per share was made on March 27,
last.
In 1943, the company made payments of $1 each on Sept. 24
and Dec. 22, making a total for that year of $2 per share:—V. 159,
p. 1901,
..!
preferred stock (no par shares), $949,593; common stock (276,237 no
par
shares), $3,541,191;
capital surplus, $583,250; earned surplus,
$3,274,867; total. $12,171,680.—V. 159, p. 1391.
y
,yvyyy:: y. y.y ''
stock,
reserve
for
reserve
$1.30
$1.37"
•
':.y?
:'
share
preferred
Co.
:
Blyth & Co., Inc., offered as a secondary distribution,
May 15, 37,460 shares of prior preferred stock (par $20)
at $16 yi net per share. Dealer's discount, 60 cents. The
,
debentures, issue of 1940, $1,042,000; reserve for redemption of Corona
$5C,168;
2015.
2,822,385
U. S. Treasury savings notes.- tax
taxes (less U, S. Treasury tax savings notes, plus interest of
$1,336,968), $970,743; accrued taxes and expenses (other), $532,066;
coupon book and inspection contract liability, $182,235; 10-year serial
insurance,
$1.58
share—.
p.
■
y._
$2,405,098 *$2,267,322
$2,767,573
;_ v
,
$5,089,707
common
29.
y
To Pay Extra Dividend of 25 Cents—
profits
Typewriter
Black,
hands of the public and $360,000 of
Pacific Co,
(trade); 8511,840;
accounts payable
$157,288; L, C. Smith & Corona
10-year serial debentures, due Nov. 1,
payable
B.
reelected
were
dividends payable,
$32,799;
Typewriters,
and
159,
directors
Stokely
and accrued interest, of all the
company's 4 % gold bonds—Central Pacific Stock Collateral, due Aug. 1,
1949.
He said there are $16,303,125, principal amount, of such bonds
in the hands of the public.
Mr. Mercier stated that the board ap¬
proved the redemption by Central Pacific Ry. Co. on Oct. 1, 1944, at
107Vi and accrued interest, of all of its Through Short Line first mortgage 4% gold bonds, due Oct. 1, 1954, guaranteed by Southern Pacific
Co.
There are $9,640,000,
principal amount, of such bonds in the
marketable securi¬
ties, $287,904; accounts and notes receivable (trade) (less reserve for
uncollectibles of $140,408), $1,290,809; accounts receivable, other (less
reserve), $24,271;. inventories, $4,011,166; accounts receivable, officers
and employees (less reserve), $5,361; accounts receivable, other (less
reserve),
$2,952;
mortgages
and
real estate
contracts receivable,
$15,299; investment in real estate (less depreciation), $24,329; sundry
investments, $4,933; plant and equipment (less reserve for depreciation
of
$3,905,121), $1,601,941: patents subject to amortization,
$8,280;
cash deposited with trustees for redemption of Corona Typewriter Co.
preferred stock, $111; prepaid expenses and deferred charges, $388,3961
goodwill, trademarks and formulae, $947,965; post-war credit, excess
profits tax (estimated), $234,089; total, $12,171,680.
Assets—Cash
directors
■
Crocker, Armand T. Mercier, and V.. H. Rossetti,
redemption
-
Consolidated Balance Sheet,
.
_„y_—
■;'■:■• ■'
due 1949 and Central Pacific Ry. 4% Bonds due
Y./■'
y
■
&
income
Inc.
rentals of typewriters and other
is included in selling, general
and
Fed.
May
$1.24
the costs of which
of
The basis of the exchange"was not. disclosed.-y-
chgs.,
June
May 10 re-elected
annual meeting. No
on
next
comprising
James
William W.
(conversion at official
company
Y,
<
announced that it-has completed negotia-*
Detroit, through
except taxes- $5,803,242 ^$6,006,375
foreign income taxes—.^ ,3,035,6693,601,277
all
after
the
on
meeting.
reappointed.
were
following
committee:
138,118
representing net income of the British subsidiary company and $4,440
iii 1944 representing net loss and $7,992 in 1943 representing net
income
exchange of,stock.
Earnings per common
276,237
$0.45
w———
includes $4,655 in 1944
income
Net
138,119
276.237
;>y
stock
common
19,422
19,422
stock..
——
___
stock-
common
Notes—(1)
:
stock
common
on
preferred
cumulative
$6
on
Dividends
of
The annual
'$1,168,085
25,914
41,109
173,317
• 1944—4 Mos.—1943
'$1,641,120, $1,493,575 \
of
compared
$1,007,243
Corbett,
L.
Sales .Up—
T944—Month—=1943 '
$470,135
■• $421,763
1
,
f
Y'
;
,
y'YY Y
2015.
p,
April, 1944, electrical appliance sales decreased!
with April, last year, and for the four month?
88.56%r under 1943.
"
:
Furniture net sales for the month'of April, increased; 16.23% over VApril; 1943, and for the four mouths show an, increase-0f T7.58%• as >
compared with the same period last year.—V.. 159, p.-. 1804. <. •.
yydecrease
Net
of Los Angeles, Calif., and
of Portland, Ore.
meeting was held on the 75th anniversary of the driving
of the "last spike" at Promontory, Utah, on May 10, 1869, marking
the completion of the first trans-continental railroad.
The western
portion of this coast-to-coast rail line formed the original unit of the
present Southern'Pacific transportation system.—V. 159, p. 1901.
/;
The board of directors held its organization meeting on May 18 and
reelected Armand T. Mercier President of the company.
Other prin¬
Henry
159,
Stores, Inc.—April
r_:
month
as
a
Profit
Chickering,
L.
on in¬
contracts,
war
on
Earnings for Quarters Ended March 31 (Including Subsidiaries)'
$7,009,842
4,574,155
1,428,444
the
directors
was
directors
Allen
$0.20'
of profits
Sterling Drug, Inc.—To Expand-*-,;,:
the board are as follows: James B.
William W. Crocker, Ben C. Dey, Armand
T. Mercier and Donald J. Russell, of San Francisco, Calif.; Cleveland
E. Dodge, Walter Douglas, Wm. DeForest Manice, Landon K. Thorne
and John G. Walsh, of New York, N. Y.; Kenneth L. Isaacs, of Boston,
15
$701,972
$0.64
Stix, Baer & Fuller Co.—25-Cent Dividend—
stockholders
business
670,208 ;
'
$290,416
.
Pacific Co.—Directors Reelected—
incumbent
other
30,176
$383,627
the
The
37,470
-
For
1699.
p.
Southern
$1,137,909
—
deductions
Other
U.
-
income
Total
m
operations
from
Inc.'," below.—V.
Bros.
—
show
Mass.; Harvey S. Mudd and V. H. Rossetti,
v
sales
87.29%
>
$7,013,842
..
4,000
income
oper.
$1,372,180
'"•■/Yv'YY/■■:■ YYY.'
■
Drug,
^Revised.—v.
Net
refund
■
;
estimated taxes
for
$1,908;450
renegotiation
Period End. Apr. 30—
Net
an
$2,431,290
1,500
$2,496,063
1,831,684
320,925
rev,™
—_
893.174
$361,836
21,791
>
1944—3 Mos.-^1943
?
-
$2,504,063
8,000
___
Operating revenues—
Operating expenses
The
909,853
Sterling
'••••V
.•
/
123,013
.—__■■■'
share__i.i_—^
'
aggregating
1804.
p.
7
; •
1943
(est.)-
charges—
common
statutory
159,
Est.
,
$2,068,553
Provision
per
all
'
•
*$413,429
laxeS—-li.ii_'Ll'_i_—.'
adjusts." & conting.
after
% '
1944
tions for the acquisition of Frederick Stearns & Co., of
$343,454
revenues
•'
I'...
Co.—Earnings—
(Frederick) Stearns & Co—Consolidation—
Co.—Earnings—
1944—Month—1943
Period End. Mar. 31—
Uncollect,
3,525,916
$1,310,559
—
—
Spring
estimated
provision
and
—v.
.
Operating
$5,594,469
2,673,593
——-——
income
•After
1598.
Southern New England Telephone
1943
V
1944
$3,984,152
general and administrative expenses—
for depreciation and amortization—
Selling,
_____
p.
Steel
post-war
$4,164,697
3,145,225
$3,935,400
2,911,370
$1,382,237'
1,028,347
$1,362,587
984,011
_
/
■■■
after
for
come
69,041 o.r: 89,298
"
compared with'175,299,000 kwh. for the.
an increase of 7.3% .—V. 159, p. 2015*
as
The corporation on May'12
-
Inc. (& Subs.)—
31—
——-
———_
sales—„
of
28,618
-
4
Months Ended March
Cost
„_
income—.:
oper.
-V.
sales
23,146
kwh.,
week last year,
Y
Earnings
: -
$11,088,153 $10,056,615 $32,486,914 $29,007,838
7,395,328
6,568,194
21,790,789
18.195,204
2,330,238
2,106,184
6,760,725
6,647,937
revenues—
Operating
Government securities, $2,100,000; accounts
$49,000 reserves for doubtful accounts),
$2,275,018; inventories not In excess of cost or market, $4,182,2J7,
prepaid and deferred Items, $245,175; notes and accounts receivable,
pot current, $25,125; estimated post-war refunds of excess profits tax,
$915,748; investment in common stock of partly owned subsidiary,
at equity in underlying net
assets as shown by subsidiary's books,
$66,942;
real estate, tools and machinery and
equipment, at cost
{less depreciation reserves of $5,262,962), $4,652,08»; total, $17,675,289.
Liabilities—Accounts payable, $542,280; provisions for Federal and
Dominion income and excess profits taxes and for payments which
may result from renegotiation of 1944 gales (less treasury tax notes
oi $3 500,000), $2,610,352; other accrued Federal, State and local taxes,
$341,347; accrued payrolls, $462,765; other accrued liabilities, $937; :
capital stock (497,000 no par shares), $2,982,000; consolidated surplus,
$10,735,607; total, $17,675,269.—V. 159, p. 2014.
3
reV<—_ y =v
expenses
Assets_cash, $3,212,961;
notes receivable
(less
Earnings—
>
Operating
•and
Net
oper.
;
.
Co.—Weekly Output—
public utility operating .companies in the
system for the week ended May 13. 1944,
the
of
Prov.
1944—3 Mos.—1943.
1944—Month—1943
1943.
p.
& Electric Co.
Earnings
$11,111,299 $10,085,233 $32,555,955 $29,097,136
___
output
Gas
Standard
I
".
(L. C.) Smith & Corona Typewriters,
revenues
Uncollect.
Mar. 31, 1944
Consolidated Balance Sheet,
31-^-;
Period End: Mar.
158,
Quarters Ended March 31—
& Telegraph Co.—Earnings
Southern Bell Telephone
'
Operating
7
June 1 to holders of record May 23.A
was made on this issue on March 1,
Electric
&
188,034,000
o.'\
,
.
•
Gas
corresponding
.
See
estimated post-war refunds and payments which may result from
negotiation of 1944 sales.
-...
tlncludes $370,600 for Federal and Canadian excess profits taxes,
tlncl. excess profits taxes of $1,009,500 flJ. S. income and excess profits
taxes figured on basis pf Treasury proposal). J Includes Federal and
Canadian income taxes (less estimated post-war refund of excess profits
/.'•
_
share 011
preferred
second
share
per
share.—V.
per
Standard
May
on
:
.
$1.37 May per
of
cumulative
Arrearages after payment of the current declaration will amount
Standard
par),
15 announced that George J.
Hanks, following his resignation as Vice-President and director of the
Tide Water Associated Oil Co., New York, has been elected Vice-Presi¬
dent and director of South Penn Oil Co. to succeed the late C. F.
Stevenson who died last December.—V, 159, pp. 1486 and 485.
Noel
$2.75
$5.50
: ' y
South Penn Oil Co.—-New Vice-President—
-
of
dividend
a
the
on
value, payable
par
no
declared
accumulations
of
distribution
to
have
directors
last.
134
$395,792
198,800
$0.72
share—
•Includes Federal and
The
Net
;
$361,094
':;v 198,800
Spear & Co.—To Pay Accrued Dividend—
,
account
60,000
100,000
■••".7" :yy;:
y
inCome—
com.
$1,415,100
.
■
Dividends,.
Earn,
.
adjustments
doned plant assets—
Consol.
111,435,900
7.612
y-y"':":.:
•
and
contings.
year-end
173
446
2,775
1941
$10,569,091; premium on
common
stock, $2,380,275; long-term debt, $17,622,000; accounts pay¬
able,
$460,192;
customers'
deposits
and
accrued interest
thereon,
$136,309; accrued taxes, other than Income taxes, $283,207; Federal
and
State income
taxes
(accrued), $2,299,530;
accrued interest on
long-term debt, $40,098; miscellaneous accruals, $35,517; premium on
debt in process of amortization
(net), $63,643; reserves for deprec.,
deplet. and amortization
(incl. special amortization of $3,359,787),
$16,056,154;
other
reserves,
$4,627;
contributions in aid of con¬
struction, $35,453; capital surplus, $1,237,573; earned surplus ($2,117,859 restricted), $6,635,370; total, $57,859,040.—V. 159, p. 1803.
$1,776,691 ; $1,521,188
$1,939,304
$1,364,924
charges...
-
.
Liabilities—Common
&
opers.
Miscellaneous
Prov.
$2,510,315
787,501
■
opcrs
from
other
$2,709,466
848,703
exps._
income
Profit
$2,199,795
...
and
gen
administrative
Other
4,521,200
March, 31,
and
ments
$4,684,158
2,573,147
$6,436,663
3,926,348
$7,264,190
4,554,723
$6,720,995
goods sold——
at
Sheet
plant and property, $50,026,904; miscellaneous invest¬
special funds, $87,358; cash, $2,480,523; U. S. Treasury
securities, at cost and accrued interest, $2,916,126; accounts receiv¬
able
(net)-,
$1,290,432; materials,
supplies and merchandise at 1 or
below average cost, $679,548; prepaid taxes, insurance, etc., $102,983;
deferred
charges,
$213,873;
capital
stock expense,
$61,292; total,
Assets—Gas
1941
1942
1943
1944
Balance
Consolidated
Simonds Saw & Steel Co. (& Subs.)—Earnings—
3 Mos. End. Mar, 31—
$3,995,251
1:578,293
...
.-
1,578,293
$1,703,627
$1,516,957
profit? tax is believed to be payable by the
parent corporation for the periods involved.
j.-
Volume 159
THE COMMERCIAL & FINANCIAL CHRONICLE
" Number 4283
'
i
and
1943
$2,331,436
1,200,000
hand™™——;—.—
on
U. S. Treasury savings notes, tax series,
and accounts receivable™™.,;
at cost
$2,278,821
1,000,000
31,018
—
Interest
subsidiaries;
Investments in
Furniture & equipment,
assets
Unadjusted
Total
•
Other
Earned
surplus
-
on
Reserve
—-
-
Conv.
stock
™—'
-V.
The
538,843
221,461
82,918
1,512,119
Dr768,756
1,415,831
iDr768,756
in
treasury—™
;™_
$5,605,709
$5,043,918
,™_
(Excluding Roxy Theatre,
from
-X"'.-X':' -,:X' -'X;;. -X
;
with
maturities
of
corrsponding
*-,X-■'X-X':
subs,
(not consol.)
Dividend
income
.
Memorial
Sullivan
and
Fine
Mitten
Library,
Oak
Arts,
Lane
Hall, the Schools of Medicine,
Country Day School, Women's
p. 1478.
Dormitories, and the Athletic Fields and Stadium.—V. 158,
Terminal
The
Amort. 'Of
eign
are
issuing
of
Noel
&
Stockholders
May
Paine, Webber, Jackson & Curtis; White, Weld
assets
.
increased the authorized capital stock by 295,-
—
Co., H. T. Mills and Clement A. Evans & Co., Inc.
'
Extra Dividend—
V
The directors have declared
an
extra dividend of 25 cents per share
Company—Incorporated
had
which
business
Aug. 31,
Georgia
in
1912,
Symington-Gould Corp.—Takes No Dividend Action—
'
took no action on the declaration of a
stock which ordinarily would have been pay¬
dividend
the
on
common
about. May 1.
Distributions of 25
May 1 and Nov. 22, last.—V. 159, p.'2015.
cents
able
each
made
were
.
,
,
knitting department which produces tubing and jersey
for work gloves.
As of Jan. 1, 1944, the mill equipment
included 95,728 spindles; 2,316 looms, 350 cards and the usual auxiliary
and
supplementary equipment.
Loom production during 1943 aggre¬
gated 68,750,000 yards or approximately 1,322,000 yards per week.
Approximately 77% of the loom production was further processed
as follows:
approximately 34,000,000 yards'(or 49% ) were finished in
the company's own finishing plant and sold to others; approximately
Telephone Bond & Share Co.*~r35-Cent Preferred Div.
7%
the
on
of record
and
the
May 12 declared a dividend of 35 cents per share
first preferred stock, par $100, payable June 15 to holders
directors
The
A similar distribution was made on March 15, last,
May 27.
March
on
on
15, 1943, while on Dec.
June 15 and Sept.
15.
Pacific-Missouri Pacific Terminal RR. of New
Texas
*
XX
;
1974, and to be guaranteed as to principal, interest and sink¬
and severally by the Texas & Pacific Ry. and Guy A.
Thompson, as trustee of Missouri Pacific RR.
Assumption by Guy A.
Thompson, as'trustee, has been authorized by the. United States Dis¬
trict Court, by order entered May 10, which order, among other things,
provides that any purchaser, assignee or transferee of all or substan¬
tially all of the property of the estate of Missouri Pacific RR. shall,
as a condition precedent to such purchase, assignment or transfer,
as¬
sume the obligation of Guy A. Thompson as guarantor.
The issue and sale of the bonds and the assumption of obligation
1,
and
in
liability
thereof by
respect
the
'
must
Bids
Pacific
Missouri
St. Louis
St„
—v.
submitted
be
3,
Terminal
Railroad
of
not later than
Mo.,
New
North
210
entered
has
company
Outstanding.
12,850 shs.
100,000 shs.
;X.
,X.XX'XX
of
■
into
Manufacturing
Thatcher
■
X'J-X.
19,
thereunder are guaranteed in
credit agreement pro¬
part to the bank by the War Department,
The
vides that the bank will lend to the company,
until June 30, 1944,
the aggregate at any one time
credit shall be represented by
notes each of which shall bear interest at the rate of 2%% per an¬
num
and shall mature not more than 90 days from date or June 30,
to
not
amounts
whichever shall be
1944,
in
the
$2,500,000
exceed
under
Borrowings
outstanding.
:
'
The
Additional
Co.—Listing of
k; v'-.-Vi
•: '■
■Common Stock—•
/.v:
Stock Exchange
York
has authorized the listing of 36,000
stock (no par), upon official notice of
full upon exercise of options to officers and
Employees, making the total amount of common stock applied for to
date 314,836 shares.
7'
Consolidated Income Statement >
:
7 ;X
New
additional
shares
of
common
and payment in
issuance
.
5
1942
;.
sales™—™-———™-™—_™_—™_— $13,312,050 $10,501,772
etc,,
Returns,
•f
1943
Years Ended Dec. 31—
Gross
allowed,
discounts
etc
1,513,685
earlier.
sales™——
■
As of Jan.
Courts & Co.———i.™
Martin
Milhous,
McKnight,
1944, the amount of
1,
Cost of sales
2,000
1,200
1,200
1,000
_™_—-
Snyder
Wyatt, Neal & Waggoner—
&
„
R. S. Dickson & Co., Inc.__
Kirchofer & Arnold, Inc.—
1 000
H.
196,813
793,665
698,449
Income
of
7,618,189
221 426
™——
selling, expenses—
chandise
and
profit——™™————I—$1,116,590
Gross
income—_™™_____™——
$768,866
55,102
™___
68,404
——
—
Total
income
$1,171,692
profits
Net
income
Federal
for
tax)
;tax
(no
excess
-
*
.X
257,493
proceedings
of goods
Cost
285,487
$536,562
—
Gross
—
X
and
;
$294,290
410,058
Total
Other
in
at their
directors
annual
include:
meeting held
Robert
on
elected
May 16,
Lehman, President
of Leh¬
partner of Lehman Bros.; Robert L. Clarkson, Chair¬
of
American
Express Co.;
L. Sherman Adams,
a
and
Trustee
of
Massachusetts
Massachusetts
of
Investors
Investors
Murray Silverstone, Vice-President
in
Second
Fund,
Trust, Boston, Mass.,
of Foreign Distribu¬
Charge
of Twentieth Century-Fox Film Corp.
All other directors who were re-elected are:
Wendell; L.
Wlllkie
(Chairman), Spyros P. Skouras (President), Thomas J. Connors (VicePresident
in
Charge
of Distribution),
John R.
Dillon, Daniel O.
Hastings, Wilfred J. Eadie (Comptroller and Assistant Treasurer),
Wliliam C. Michel
Financial
and
Treasurer)
(Executive Vice-President), William P. Philips (Legal
Advisor), Seton Porter, Sydney Towell (Vice-President
and Darryl F. Zanuck (Vice-President in Charge 01
Production).
At
May
an
u
-I..
organization meeting of the board of directors also held
following the annual meeting of stockholders, all
of the company were re-elected—V.
159, p. 1486.
immediately
16
officers
Union Oil Co. of California
(& Subs.)
3 Months Ended March 31—
Sales
of
products and
discounts
purchases
on
Total
Total
-Earnings1943
1944
services.___
1942
$29,920,803 $22,657,566 $20,349,823
and
-
income
82,021
73,312
67,611
$30,002,824 $22,725,177 $20,423,135
23,246,786
expense
17,853,446
17,366.709
$6,756,038
lete
etc,
equipment,
$4,871,731
$3,056,426
4,030,475
3,120,801
2,278,046
$2,725,563
$1,750,930
$778,380
$2,725,563
$1,750,930
$778',380
700,000
475,000
50,000
$1,525,563
$0.33
$1,275,930
$7?8,380
™_™™___™™_™
X.—™__™™__—'__™
Balance
Contingencies from
X.
■:
500,000
war__„™_™™___
—i
Total
"■Estimated
income
taxes
Net
profit
Net prof, per sh.
"Tt
to
is
4,666,270 shs.
on
that
believed
the
sum
provided
for
$0.16
$0.27
income taxes
is
adequate
the taxes which will become payable on
earnings to March 31,
No provision for excess profits taxes was required in 1942 and
and it is not anticipated that any will be required for 1944.—»
cover
1944.
1943.
V.
159,
1487.
P.
" '
.
United Air-Lines. Inc.—Quarterly Report—
Lower
tended
1, '44
Jan. 2, '43
passenger-express
offset
to
the
plus
rates
earnings
effect of
increased operating expenses
substantial traffic gains made
1944 as contrasted
according to the company's quarterly
President.
'
Figures for the quarter show that United flew 90,995,471 revenue
passenger miles for a gain of 30%
over those for the first quarter
of 1943; 3,713,026 mail ton-miles, for a gain of 57%, and 907,502 ex¬
press ton-miles for a gain of 7%.
Revenue airplane miles, totaling
approximately 6,000,000, gained 24%, due both to the return of certain
planes which had been leased" or sold to the government for military
purposes and to better equipment utilization, according to the report.
Mr. Patterson reported that reductions in passenger fares and ex¬
press tariffs, inaugurated last July, resulted in a decrease in income
per revenue ton-mile.
At the same time, he said, operating expenses
were up,
due in part to increased airplane mileage.
Higher advertis¬
ing, traffic and sales expenses, turnover of personnel and -increased
insurance, old age and retirement expenses were other factors in the
by United Air Lines during the first three months of
with
the
period
same
of
1943,
cost column.
The report disclosed that-United Air Lines, continuing its extensive
military' contract flight operations for the Air Transport Command,
had completed the equivalent of approximately 284 flights across the
Pacific plus more than 1,100,000 airplane miles in
its Alaskan and
domestic military
operations during t-he firsts three months of this
year.
United also continued its vital contribution to the war program
through the modification of bombers at Cheyenne, Wyo., completing
its 3,500th bomber modification during the quarter.
The report palled attention to United's extensive post-iyar plans for
the training of, its men and women returning from the armed services,
rehabilitation of the physically handicapped and the employment of
large numbers of new personnel, plus their indoctrination and training.
500
500
Ended
Statement
Income
Dec. 27,'41
for
Quarter
Ended
March
——
1,235,041
15,514 506
963,095
Operating
'I
'
.
Net
Other
—-
deductions
-
33 930
$2,651,573
135,369
$1,320,573
84,835
$2,516,204
$1,235,739
Total
$1,286,643
27,379
$2,248,345
income
$2,624,194
65,390
$2,529,450
281,105
^
-
—
income
1943
opers.
,™
$1,748,069
$1,778,463
186,316
$1,852,083
(bef. Inc. taxes)™™!.
$5,769,355
3,990,892
$1,964,779
(net)—
'
$2,464,060
——
r
from
earns,
—_™™_™__
(excl. of inc. taxes)——
$7,235,615
5,487,546
104,014
revenues
Oper, exps. & taxes
9,655,215
747,818
;
-
31
1944,,'
X
I
'v
820,000
16,587,478
565,260
——
sold
profit
Other income
"
•
512,572
——
Corp. and
Inc.,
$837,271
•
423,213
—————
profit——
"
$0.03
absorbed
board
500
Weeks
52
it,.
deductions211,917
Provision
equipment
nominated.
as
elected
Vice-President
$20,436,798 $20,336,836 $11,689,676
——
Selling expenses
Other
and
fabricated mer¬
Prov. for refund under renegotiation
Other
studio
of
.
the
600
Y500
500
T. Mills
Jan.
cloth
of
Sales
$0.28
depreciation
stockholders,
$9,282,317
9,666,687
__™_—;—;—————
Depreciation
General, administrative and
"The Robinson-Humphrey
Co.
—
—-™Brooke, Tindall & Co.™--™J. H. Hilsman & Co., Inc.Clement A Evans & Co.,
Inc.
A. M. Law & Co.——-—_
3,350
&
Inc.
1,219,456
$11,798,366
$841,561
$0.81
on
and
Of
names
Statement
Net
$1,751,740
$1.57
share
of
the principal underwriters and the
number of shares thereof severally to be purchased by each, are as
follows:
'
X :X;-;'/X-\X '.'X;",:;;:*'XX.': X'X*X-;-X .-X.' 'X XX;.v :■
x:rX
X:Shares
Shares
Underwriting—The
Ingalls
$3,186,303
——
statement issued by W. A. Patterson,
credit agreement dated Aug.
a
obligations- of the company
and
Board,
13th
-Xy■
100,000 shs.
Credit Agreement
,
Orleans,
12,850 shs,
$100)—
(par
cum.
with Central Hanover Bank & Trust Co.
The credit agreement
has been entered into pursuant to regulation V of the Federal Reserve
Texas Pacific-
Vy/.;;':
5%
(par $10>__
1943,
12 o'clock noon (CWT), May 31.
' ■■■;'■:■ -Vf
'
123, p. 322.
'
Authorized
T
stock,
stock
preferred stock outstanding.
The
2,650,000
Cr265,0G0
.
Purpose—To effect the jretirement of an equal number of shares
7%
$404,090
7,200,000
Cr720,000
—
Director
man
(or
borrowings outstanding under the credit agreement was $1,000,000.
,
man
Capitalization Giving Effect to Present Financing
v. _:.™,
Common
Pacific Ry. Co. and
authorization of the
X-:'-
Baldwin, President,
W.
L.
to
Texas &
subject to
v
x' Xx
Preferred
ing fund jointly
Guy A. Thompson, as trustee, will be
Interstate Commerce Commission Act.
by others.
woven,
J l The. company has requested bids for the purchase of $6,'(?40;OOO
mortgage bonds," series A, to be dated June 1, 1944, and to.'mq,tqre
June
sold
of work
gloves in the company's fabricating department.
The remaining 23.5%
of the loom production was shipped without further processing.
Com¬
pany's finishing plant also job-finished approximately 13,000,000 yards
6.5%) were napped and/or dyed and used in the manufacture
'
Orleans—Asks for Bids On* $6,040,000 Bond's^-
(or 21%) were napped in the cotton mill and
napped goods; and approximately 4,500,000 yards
yards
unbleached
as
p. 880.
74~30O
'
500",000
a
14,700,000
15. 1943,
disbursed on this issue $1.45 per share.—V. 159,
company
76,210
650,000
64,613
1,100,000
stock
directors
Newly
principally
„
„
has
also
on
350,006
61,982
430,519
used prin¬
and herringbone twills,
drills
mill produces
cotton
pany's
The directors at their meeting
.
The
all
cipally for work clothes and army fatigue uniforms; soft-filled and
napped sheetings, used for linings, work shirts, etc.; canton flannels
used principally for work gloves;
and osnaburgs for bags.
Company
mon
extra
764,396
1,100,000
559,404
acquired a
Company's
and
originally organized about 1845.
been
plant and executive office is at Trion, Ga.
Company is engaged in
the manufacturing, finishing and fabricating of cotton goods.
r Com¬
.
2,185
Four New Directors Elected—
Cash
quarterly dividend .of 25 cents per share on the com¬
stock, both payable May 22 to holders of record May 12.
An
of like amount was disbursed on Dec. 20, 1943.—V. 159, p. 2015.
iand. the regular
assets
———
refund
and
An is¬
sue of 12,850 shares of 5% preferred stock (par $100) is
being offered at $100 per share by Courts & Co., Milhous, Martin & McKnight, Inc., Ingalls & Snyder, Wyatt,
Neal & Waggoner, R. S. Dickson & Co.,'Inc., Kirchofer
& Arnold, Inc., The Robinson-Humphrey Co., Brooke,
Tindall & Co., J. H. Hilsman & Co., Inc., A. M. Law &
Preferred Stock Offered
—
650,09 1
981
tion
per
the first preferred,
(Ga.) Co.
619,214
XX'.-X——
__™—™
tNot including
production costs.-
company's first preferred and 30,000 shares of its second
on
for for-
reserve
Net profit
Earnings per
companies by
bonds in ex¬
to acquire the stocks of the two
refunding and improvement mortgage 4%
annually
Trion
Approved—
18
$43,450,330 $18,992,161 $13,796,113 $10,637,610
20,794,318
3,856,257
2,944,484
2,681,099
9,814,356
7,545,810
6,287,515
—,
costs •' 10,107,687
produc.
Post-war
plan for the acquisition of ;
$3 on second preferred of the
Bridge company and $6 on common stock of the Tunnel company.
It
also pays Federal income taxes on rental received by the leased com¬
panies.—V. 159, p. 2015.
:
1.200,000 shares.
000 shares to
a
proposed
new
the Bridge
share
Boyce,
Stock Increase
<
Acquire
preferred and 12,500 shares of common of the Tunnel company.
Terminal now pays as rental for the properties dividends of $6
Herbert W. Shaffer & Co., Van Alstyne,
Co., and Wyeth & Co.&
Bros.
1,298
316,948
Excess profits tax
change for the shares outstanding.
The stocks proposed to be acquired
consist of 25,000 shares of St. Louis Bridge Co. common, 24,900 shares
Co.,
Stein
with the ICC
has filed
company
Terminal
Parsons
Co., Whiting, Weeks & Stubbs, Inc., Brush,
Yarnali & Co., Minsch, Monell & Co., Mackubin, Legg
Graham,
Co.,
1,593
373,783
Fed. normal tax & surtax
now
Co.
.
Co.,
&
Louis—To
St.
17,812
40,146
296,768
Minority interest
capital stocks of two leased" companies on which fixed dividends
paid.
The two leased companies involved are St. Louis Bridge
and the Tunnel Railroad of St. Louis.
the
Higginson Corp., Estabrook & Co., Merrill Lynch, Pierce,
Beane, Goldman, Sachs & Co,, Lehman Bros., Putnam &
Slocumh &
of
Capital Stocks of Two Leased Companies—
of $3,239,962, which will be paid promptly by the, issuance of
50,526 shares of Sylvania common and the rest in cash from funds of
&
Association
RR.
17,812
———,
61,413
™—
tDeprec. of fixed1
■
■
.
price
Fenner
•
———1,418,378
Other income
'
' ,v-.
interest are
rates of
$93,000,; 2Vz%\ 1948-50, $102,000, 23/4% ; 1951-53, $111,000,
3%; 1954-56, $119,000, 31/4%; 1957-59, $425,000, 3M*%.
v< 1 :.X XX' The new bonds are secured by a first mortgage deed of trust on
Dentistry,
Inc.)
Mar. 28, '42 Mar. 29, '41
$41,970,539 $18,655,248 $13,402,924 $10,301,552
121,864
i
bonds.
X o;.
(& Subs.)—Earns,
Prop, of prof, of control,
670,236
6%
each quarter
Mar. 27, '43
Prov. of
Commission
Lee
Mar. 25, '44
sales and rent
Interest
schedule
in
...
Partic. in film rentals.™
issue of
and
,
bear rates of interest from
.■.■The
last,
977.
p.
31/3%, maturity dates ranging from May 1, 1945, to May 1,
The issue will retire the University's real estate mortgages and
to
1945-47,
registration statement with the Securities and
for 150,526 shares of common stock (no par);:
Of the 150,526 shares "registered; 100,000 shares are to be offered to
the public by underwriters, and 50,526 shares to be issued to stock¬
holders
of Colonial, Radio Corp;
The. offering price to the public
Will be supplied by amendment.-' '• •
The-shares of common stock to be issued to stockholders of Colonial
Radio Corp. in part payment for stock of Colonial will be issued pur¬
suant to an agreement between Sylvania and stockholders of Colonial
under which Sylvania is acquiring all the outstanding 64,000 shares of
class A common stock, all the outstanding 256,000 shares of class B
common
stock
and
41,603 shares
(97% of the outstanding 42,715
shares) of class C common stock of Colonial, at the price of $8.96 per
share of each of the three classes.
This results in a total purchase
Co.,
preferred
159,
,in $500 and $1,000 denominations,
•
Registers 150,526
10,
quarterly dividend of $13716
stock, payable June 15 to holders
2V2%
Company has filed a
company.
■ Y;
Underwriters include;-
5>/a%
5.-—V.
13 Weeks Ended—-
Inc.
Dividend—
usual
Twentieth Century-Fox Film Corp.
common
&
March
bonds
Shares Of Common Stock—
the
the
on
June
Oper. exps., admin, exps.
of its refinancing program, Temple University has announced
the issue of $850,000 first and refunding mortgage serial bonds.
The
the
Exchange
on
the
declared
v :
>
Temple University, Philadelphia—Refinancing—
$14,916,623 $14,710,667
—
X
As part
p.a8Q5.;Vv;\'.r;';
Products, Inc.
—_™_™
Common
»
1,596,173
———™™___™——,_™——™—
———_—■——.
share
1,320,000
82,918
.
made
was
also
directors
record
445,299
1,596,173
of
Co.—20-Cent
1943.
The
123,276
438,402
1,320,000
distribution
during
per
4T073
59,737
—_™__™—™'
.
1081.
159, p.
Coal
May 17 declared a dividend of 20 cents per share
stock, payable June 10 to holders of record June 1.
A
on
common
similar
307,736
102,515
™^—
customers' discounts.™—
repairs—™™.™—
directors,
the
on
Total income
5,000.000
8 075,891
1,516,957
an
Electric
taxes.™
stock
surplus
1959.
Sylvania
stock
pref.
and
surplus
Total
Bradley, Vice-President
159,
32,492
corporate
stock (132,000 shares, no par)—™.
(146,836 shares, no pa?) —
pref
Capital
of Storie & Webster Service Corp.,
Who relinquished active'-duties on accoiint of ill health in 1940, passed
away at his home in LaFayette, Ind., on May 12.
He was 69 years of
age.—v.
67,549
other
contingencies-™™™-—.—.—™.™——™
Earned
ObituaryC.
25,197
78,725
33,967
furnace
for
Common
434
"
Luke
$355,128
83,775
conv.
for
Reserve
99,825
13,300
par5,000,000
——
8,075,891
!—.—
—
1,703,627
Total
$305,831
:
;™_
and
freight
$4,694
—
-
2125
• •
■
$6,001
shares, no
(2,104,391
income
Outward
$14,916,623 $14,710,667
—
surplus
/
1
,
—-
Dividend
2,233
V.
110,004
liabilities-™-—-——~™™-—21,100
stock
Capital
Capital
'
■
,
———*———-™—™———
expenses
Capital
;
taxes
accrued
X
security and property taxes.
Federal
4,894
1,198
'■
..
t
payable
for
'
™u_—,—_™
Payroll
■Other
3,738,618
4,314
;„™.—™__™^
_™_____™_™—™—™—
Liabilities—
Reserve
3,208,652
4,241
less reserve for deprec.
™™;v----
■
———
Accounts
——I™—
™———
debits
1
.
Truax-Traer
payable
.Social
682,513
1,225,000
177,713
2,000,000
securities™—
investment
Sundry
—_i™_
consolidated
subsidiaries
from
,
liabilities:
Accrued
5,940,886 ■■■! 5,747,136
—,_™——-
__—™—
receivable
Other
48,183
—™»
V
■
,
.
Consolidated
Unconsolidated
Notes
Accounts
1944
banks
in
'
'
Liabilities—
Comparative Balance Sheet (Parent Co, Only) March 31
Assets—
••
Cash
'
income
Provision for Fed,
income
Net
—™_—
—
742,000
786,000
$1,110,083
$1,178,779
$0.66
$0.79
income taxes—
--™
—
Earnings per common share™™—™™—™.
—_
.
'
dividends—™:——.——
Preferred
-
•
<
Consolidated Balance
,
Assets—
'
Sheet, Dec. 31
hand
in
U. S.
Treasury tax notes,, due 1946
U.
Treasury bonds and notes
S.
on
and
notes
Inventories
Investments,
704,850
Licenses,
charges,
formulas,
854,557
13,006
12,093
1,334,523
49,073
2,115 210
1,091,229
_______
cost—
taxes
138,765
87,855
$2,654,969
$1,323,594
tax
income
115,000
—™
—.
excess
credit™—
to
Transfer
res.
2,193,355
Reserve
232,000
67.000
272,000
1,803,000
410,000
Crl80,000
—
insurance,
contract
taxes, etc
rights, etc.—:
—_
38,219
•
59,020
1
l
$5,605,709
$5,043,918
l*ei,O.Uci
Surplus
1
Preferred
—V.
"
t
——
dividendsq-^-i
dividends
159, p.
1486.
•:
''
100,000
*—-
$411,404
89,950
100,000
Flown—
of an additional coast-to-coast flight, revenue
by this corporation during April continued to
estimated figures released on May 16, by Harold
Crary, Vice-President in charge of traffic.
Last month United flew 33,196,700 revenue passenger miles as com¬
pared
with
28,280,858 for the
corresponding month of
1943,
an
increase of 17%.
Airplane miles amounted to 2,132,500 as against
1,731,627, a gain of 23%.—V. 159, p. 1902.
With
gain,
the
scheduling
miles flown
according -to
160,000
200,000
for contingencies
post-war readjustments
for
245,000
26,500
tax
profits tax
Post-war refund and debt retirem't
Fed.
1,550,000
Crl55,0OO
income
Federal
Common
Total
before
290,000
'
—
'
Fixedassets.net
Deferred
9,876
46,708
—
at
10,000
10,376
receivable,- net——
Income
State
40,000
Employees accounts and advances—™
129,559
$2,377,904
none-manufac. opers.__
profit,
More Mileage
passenger
$521,419
350,000
—
—;
1942
$1 196,739
Other marketable securities
Accounts
Net
>■
1943
-
banks and
Cash
■
Balance
:
—*
$394,969
89,950
98,000
$414,594
89.467
72,000
United Light & Power Co.—Court
Stockholders to Participate in Plan—
The
U,
S.
Circuit
Court
of
Appeals
at
Allows Common
Philadelphia
on
April 20
unanimously sustained the dissolution plan of the company under the
Holding Company Act under which its preferred stockholders would
get 94.52%
its
of
its
and
because
forced
the
liquidation
participating dividend of 10 cents
per share on the series A 6.4%
cumulative participating. convertible
preferred stock, par $25, and a dividend of 10 cents per share,on the
common
stock, par $1, both payable June 19 to holders of record
June 5.
The usual quarterly dividend of 40 cents per share on the
preferred stock, previously declared, is payable on June 10 to holders
the corporation
upon
dissolution is an involuntary one
act of Congress rendering the cor¬
or
by
an
of
stockholders.
dividend
$273,879
$328,581
36,432
38,014
A.
G.
E.
Charles,
$280,584
$310,311
$366,595
$372,669
$37,834
72,863
1,523
7
cash
4,271
4,458
14,443
t
19,000
13,900
stock,
t
36,423
35,114
40,347
$277,723
casn
oi
$197,876
$291,282
federal
taxed
as
a
tax
income
U.
S.
accrued,
(3)
Co.
the
the
of
deed
and
contract
agreement and
this
normal
State
income
Provision
Gross
•i
the
of
Net
the
of
conveyance
June
$5
This
1.
ments
in
the
of
said
of
State
New
execution
the
of
company
York.—V.
were
as
>
85,643
•
73,300
65,200
856,597
depreciation.
866,500
$1,119,594:
$1,009,147
revenues..
3,655
Dr3,143
$1,012,802
revenues
from
$1,116,451
__
441,979
432,184
income
gross
$674,472 V
$580,617
and
filing
of
cer¬
a
pursuant to the provisions of
159, p. 1807; V. 158, p. 2623;
Milk
Pet
accrued expenses, $19,000; $6 first
Operating
revenues
Operating
expenses
Taxes
Net prof,
Mar. 28,'42 Mar. 29,'41-
$0.33
stock—
$0.51
$0.81
>
$0.90
"After
159,
240,000 shares.—V.
*
116.
p.
426,619^
67,938
66,300
695,395
________
623,434
•
$1,205,882
$1,185,128
1,915
$>4,147
$1,187,044
$1,201,735
;
__
528,922
income__„
gross
503,253
.,$658,122
$698,482.
deducting debt retirement and post-war credits of $49,600 far
ended March 31,
1944,
1943—V. 158, p. 2089.
31.
and
$48,005
for
ended
months
12
Virginian Ry.—New President—
Co.—20-Cent Dividend—
Frank
May
Beale
D.
15,
Beale
has
succeed
to
President and
elected
been
(Allan) Wood Steel Co.—Earnings—
director, effective
a
Carl Bucholz who has retired as President. Mr.
in charge of operations of the New York,
Quarter Ended March 31—
Vice-President
was
Net
Chicago & St. Louis RR.—V. 159, p. 1902.
income
after
1
'
"
J
■
1944
•
—V.
.
1943
-
$77,829
$174,786
Nil
taxes____
and
charges
$0.25
Earnings per common share
881.
Sept. 15 and Dec. 15, 20 cents each.—V. 159, p.
611,214
1
revenues..
,
364,329
446,400
___•_
revenues
from
months
12
578,018
__L
income
•
*011
'
.
1,495,768
^ 364,000
surtax..
tax
income
Net
;•
and
depreciation;
operating
Gross
1943
$4,795,184
1,835,210.,
taxes...
income
tax
for
,
—
____•
profits
$216,258
$123,816
"Earnings per share on
common
income
3944
$5,170,451
;'
•
(electric)
tax
excess
Deductions
$193,847
$78,634
tax_
income
normal
Non-operating
after all chgs.
Fed.
and
than
other
Federal
Net
Mar. 27,'43
Mar. 25,'44
credits of $20,700
12 months ended
post-war
1944, and $9,516 for
31.
2089.
Wisconsin Michigan Power Co.—Earnings—
Co., above.—V. 158, p. 2297.
;
March
158, p.
"12 Months Ended March 31—
Provision
Co.—Earnings—
and
retirement
debt
ended
1943.—V.
31,
"Federal
Co.—Proposed Merger—
12 Weeks Ended—
deducting
months
12
March
-
Van Norman Machine Tool
of 20 cents per share
stock, payable June 15 to holders of record
with 15 cents paid on March 15, last.
Pay¬
follows;
March 15, 15 cents; and June 15,
compares
1943
186,300
income
State
16 declared a dividend
May
on
common
par
246,500
income
"After
for
as
the Valley
dissolution of
the
conveyance,
authorization
dissolution
of
of
deed
Van Camp Milk
(50,000
directors
the
,
793,663
354,174
715,029
tax_l
tax
for
Deductions
15, 1943;
subject to the consummation of the sale and convey¬
and
and
laws of
See
$5,000,000
United States Graphite
The
taxes
and
profits
operating
March
on
4,932,149
surtax
income
tax
excess
$8,216,92^
5,772,827
and
company
as
119, p. 1735.
$109,071; securities, $25,746,140; in¬
Corp., $1; total, $26,960,548.
etc.,
the
tificate
V.
(172,319 shares, no par), $17,231,900; $6 second pre¬
shares, no par), $50,000; general reserve
(set
paid in cash by subscribers to second preferred
stock), $4,950,000; common stock (985,000 shares, no par), $98,500;
capital surplus, $1,007,953; operating surplus, $3,603,195; total, $26,960,548.—V. 159, p. 881.
stock
out of
up
than
other
1943
1944
$8,959,700
expenses
"Federal
properties and assets of this company as contemplated by
RR.
stock
preferred
ferred
$0.14
Wisconsin Gas & Electric Co.—Earnings—
12 Months Ended March 31—
Operating revenues.
—
f
Non-operating
between
agreement
the
into
said
and
Upon
of
contract
March 31, 1944
for taxes and
Liabilities—Reserve
$270,119 /
.
" $0.31
• •
authorized at the meeting of
directors of the Valley RR. Co. held May 8, 1944, and
by
ance
Internat. Securities
&
approval
said
$939,094; securities sold but not delivered, $4,583;
federal tax claim receivable and interest thereon, $161,658; dividends
Interest
entering
the board of
S.
Sheeet,
Balance
in
The
(2)
Assets—Cash,
vestment in
A like
25 and
to holders of record June 1.
last, and on June 25, Sept.
Delaware, Lackawanna-& Western RR. Co. dated Dec.
contemplated
preferred stock.
first
receivable,
15
14,
properties and assets of the Valley RR. Co. to the D., L. & W. RR.
& International Securities Corp.
and in Credit & Investment Corp. at their indicated values based on
underlying assets, securities without quoted market prices at cost of
$713,030, and all other securities at market quotations, the net assets
of corporation had an indicated value on March 31, 1944 of approxi¬
mately $32,093,929, which is equivalent to approximately $186
per
U.
in
$329,493
.
...
umj
balances,
tin view of the corporation s
regulated investment company, no provision
has been made.
$Net realized profit on
investments
Calculating
$0.12
sin
common
,
special
directors
Investment.
of
June
March
on
1943.—V. 159, p. 388.
meeting of stockholders will be held on June 12 for the
considering and acting upon the following:
(1) The ratification and approval of the action of the officers and
A
$318,778
(uasn
Reichsmark
of
be
share
payable
paid
was
15,
purpose of
the
to
per
Federal
Valley (N. Y.) RR.—To Vote on Sale—
7,689
40,281
expenses
"Jrroceeas
for
amount
1944—12 Mos.—1943
$4,014
Nil
$98,093
_
159, p.' 1489. ' ';.V
Taxes
of 25 Cents—
share has been declared on the $1 class A
dividend of 25 cents per
Dec.
*Cr7,987
.
profit
settlement
taxes
Net
receivable—
for Fed. inc. taxes
election
and
with
Universal Cooler Corp.—Dividend
A
(& Subs.)—Earnings—
1944—3 Mos.—1943
Treasurer,
Johnson,
and
of
stk. & other taxes-
Net
•
resigned.
Heitman,
31—'
profit aft. charges
'—V.
.
38,014
inv.
Inc.—New Secretary—
1942,
$3,684
*$31,251
*$12,793
_
White Sewing Machine Corp.
Period End. Mar.
"Net
«
has been elected Secretary, replacing
Mr. Charles will continue as Treasurer.
United since 1S40, and for the last two
years serving in an executive capacity in the office of the President,
has been elected Assistant Secretary.—V. 158, p. 1773.
John
$334,655
27,720
_
loss on
Net realized
Other
paid
were
1
_
.
and a par¬
preferred stock
taxes
-
and Fed.
charges
,,!/After Federal income taxes (1944, $7,920; 1943, $18,354).—V. 159^
p. 147:',.'
-;v'; .V';-.v;.
Earns,
common
Prov.
■
after
Operating
$252,865
_
income
securities
share on the common stock
per
1941
1942
1943
1944
received
income
Interest income
Cap.
cents
10
United Wall Paper Factories,
Securities Corp.—Earnings—
United States & Foreign
3 Mos. End. Mar. 31—
Proceeds
income
claimed that under the
Leonore
Total
of
income
1943
1944
3 Months Ended March 31—
Net
.
dividend of like amount on the
June 28. last year.—V. 158, p. 1479.
on
"absolute priorities" rule, Power's
preferred stockholders were entitled to get all Railway's common stock
because the assets of Power, consisting principally of its ownership
of Railways common were not sufficient to pay off the preferred out¬
standing and the accumulated dividends since 1932.—V. 159, p. 1807.
Div.
25.
May
White Rock Mineral Springs Co.—Earnings—
—
11 declared a
ticipating
°
Otis & Co.
record
A
obligations to its preferred
poration powerless to fulfill its contractual
Corp.—Participating Dividend—
Sugar
The directors on May
Court, in an opinion written by Judge John Biggs, Jr., dis¬
missing objections to the plan by Otis & Co., Cleveland, holders of 10
shares of Power's preferred stock, ruled that the common stock of a
solvent public utility that is being dissolved under the Holding Com¬
pany
Act is entitled to shave to some extent in the distribution of
assets
States
United
Railways Co.
United Light &
subsidiary
of the common stock
5.48%
shareholders
common
wholly owned
The
Monday, May 22, 1944
COMMERCIAL & FINANCIAL CHRONICLE
THE
2126
1182.
158, p.
Wabash RR. Co.—Directors Elected—
Corp.—Quar¬
United States & International Securities
March
31,
dividends.-
Interest
'LL
,_
728
Net
after chgs.__
profit
"Earnings per com. sh._
Total
income
—
-
Capital
^
33,981 '
3,541
for
Federal
est.
13,350
19,000
$237,784
$286,625
taxes—
income
in
35,547
4,180
§tock and other taxes
Provisiorf
$345,352
$288,656
—
!,
r
of
for
Prov.
income___________
prior
quired
Fed.
years'
_____
Total
___
$286,625
$245,950
_
,
realized
loss
investments
on
329,607
371,191
$83,657
;
loss
______
50
No.
dividends
total,
ferred
stock
dividends
stock
31,
securities, at cost,
$23,920,000;
(100,000
shares,
$500,000;
par),
no
paid on first preferred stock,
shares,
par),
no
$5
special
second
(less
reserve
$239,200), $5,670,343;
Pro¬
Broad
New
St.,
York
4,
N.
Y.,
to
up
12
noon
(EWT),
and
well
time
same
approved
a
of
charge
in
*Net
$247,581
profit
1942
Earn,
largely
$129,253
$118,031
Dec.
000
1943, $83,657; total, $30,103,691.—V. 159, p. 775.
shares
$0.32
$0.68
"After depreciation and
of
represents
1944
period
This
1943.
during
increase of
an
56%
increase
large
the
compared with
as
is
the result
similar
substantial
of
The
June
wholesale and
life,
in
sified' activity in
insurance.
group
The
company's
civilian overseas coverage also has
inten¬
contributed ma¬
A
15.
with
pared
gains
15
Jan.
follows:
and
on
Oct.
no
G.
has
Brown
General
named
been
Manager
Under
mechanical
of
goods, general products and "Lastex" yarn and rubber thread divisions
this
of
company,
Willard H.
succeeding
President and member of the executive
New Process Developed to
Cobb,
elected
recently
Vice-
committee.
Reclaim Synthetic Rubber
Synthetic rubber, which heretofore resisted every known reclamation
method
the
used
natural
on
manufacture
of
rubber,
finished
is
being salvaged for re-use In
now
products
by
a
reclaiming
new
session
So
far
more
Development
thousands
synthetic
methods
More
available
The
of
than
of
for
process
the
pounds
rubber,
were
than
1,000,000 pounds
company said on
new
of
has
Payments last year were as
cents each; Oct. 1, 30 cents,
to
5,000,0000
reclaim,
employs
up
the
natural rubber.—V., 159, p.
rubber
have
inspired
would
by
during
be
the
fact
that
manufacture
useless
reached
Plant
on
11,
May
Corporation's
will
company
factory
at
Shea, Works Manager.
take
share
unless
of
and
stock,
Pa.
Earnings
"After
new
per
no
Ransome
acquisitions,
Another subsidiary, Worthlng-
manufacturers
J.—V.
159,
p.
of
liquidrmeasuring
is
meters,
1808.'^i''■
-Vv
no par,
compares
on
Rulings of the New York Curb Exchange
mortgage
collateral
and
5%
trust
bonds
of
company
same
synthetic
said,
machinery
2017.
rubber
and
used
more
in
scrap
will
the
are
1942
$251,963
$287,387
$372,620
:
quarterly
a
dividend of 25
cents
dividend
per
of
share
25
on
cents
the'
per
common
both payable June 15 to holders of record June 1,
with
dividend of $1
a
per
share paid
on
Aug.
This
15, last,
1941—V. 159, p. 1808.
'
Youngstown Steel Car Corp.—Earnings—
V
Year Ended Dec. 31—
Net
*
'
and
'
'
;
after
income
per
1943
share___..__—_________
common
1942
$202,129
charges and taxes____
*$T69iB87
$2.03
$1.74
giving. effect to - renegotiation settlement.'—V.
353,132
353,132
353,132
353,132
$0.59
$0.53
$0.63
$0.86
Zonite Products Corp. (&
1941;
depreciation and Federal taxes.—V. 159, p. 1808.
;
Quarters End. Mar, 31—
Oper.-prof., aft,
Fed.
inc. taxes,
Prov.
reclaiming of
Net
(J. G.) White & Co., N. Y.—Director Elected—
now
accumulate.
Roscoe
been
p.
C.
elected
2066.
Ingalls, partner of Ingalls & Snyder brokerage firm,
a
director
of
-
he
155, p. .2288.
(& Subs.)^Earns.
1943
share—.i.
declared
have
extra
an
April 25,
Earnings
$271,721
par)
first
>
1944
—
stk(
and
pos¬
Scranton,
.
Chlorine Products Corp.
3 Mos. End. Mar. 31—
the
directors
"After
com.
N.
that
ruled
The
plant will begin within 60 days, it is estimated.—V. 159, p. 2018.
Shs.
Machinery
Quarterly Dividend Basis—
plant adds approximately 87,000 square feet of manu¬
facturing space "to Western Electric's facilities.'
Shipments from this
♦Net profit—
a
Ran-
and weld¬
(L. A.) Young Spring & Wire Co.—Stock Placed On A
;
159, p. 1193.
The Scranton
been
1854,
for
*1943
,
106,211
41,865
27,310
60,500
47,270
35.000
$101,999
$34,408
$51,901
$0.12
$0.04
65,700
$134,405
advs._
1941
$114,211
$268,710
120,556
etc,
.1942
$123,543
$320,661
deprec,
future
Subs.)—Earnings—
*1944
this rubber.
pounds
the
and
R.
Westvaco
synthetic
accumulated
scrap,
reclaim
was
of J.
in
mixers,
.quoted ex-interest $25 per $1,000 bond June 1.—V. 156, p. 2144.
expansion,
direction
Established
York Railways Co.—Ex-Interest June 1—:
formula
May 9 in announcing the discovery.
process
piling
were
found
of
Defense
the
Co.,
Newark,
at
Meter
The Committee on Security
arranged through the Signal Corps, will enable the
company to transfer a portion of its wire and wire-products opera¬
tions from its Works in*BaItimore, Md., where additional production
for the Armed Forces will then be undertaken.
The Scranton plant
becomes a
"satellite" of the Baltimore Works which is under the
This
developed by the United States Rubber Co.
reclaimed, the
agreement
an
of
Electric
the
to
addition
.located
Western Electric Co., Inc.—Plant Capacity Increased—
United States Rubber Co.—Changes In Personnel—
Worthington.
concrete and industrial
Mass., and Wellsville and Buffalo, N. Y.
terially to the increases.—V. 159, p. 1807.
Ernest
pavers,
par,
cents on Jan. 3, 1944.
2, April l and July 1, 15
50 cents.—V.
28,
road
Worthington plants are located at Harrison and Newark, N. J., Holyoke,
May 16
stock,
common
of
subsidiary
of
line
became
product lines.
In
Co.—20-Cent Dividend—
declared a dividend of 20 cents per share
payable July 1 to holders of record
similar distribution was made on April 1, last, as com¬
directors
the
on
.
N. J.
Federal income taxes.—V. 159, p. 116.
West Virginia Pulp & Paper
during the first four months
this company
by
of manufacture for industrial use and for '
Maritime Commission.
A substantial volume of
has been built for lend-lease.
' 4
lines
and
generators
ing positioners also provided important adjuncts to existing Worthing¬
$115,135
$0.28
,
.
1943, Ransome Machinery Co., Dunellen,
July,
some's
1941.
$0.29
'•
standard
Navy
wholly-owned
'
issued
business
in
and
ton-Gamon
common—
en¬
manufacturing: R. H. Olson, Vice-President in charge of
Hotchkiss, Secretary and Treasurer, will continue
capacities.
Army,
In
;
share on 400,-
per
and internal combustion
for steam
generators
Machinery will continue to operate independently of the
activities. ' Its present executive personnel, Wal¬
President; O. A. Soderstrom, Vice-President in
of
motors
(& Subs.)—Earns.—
1943
Walther H. Feld-
and
and Fred W.
proposal of company
1944
Quar. End. Mar. 31—
Machinery Manufacturing
announced on May 19
was
Feldmann,
those
the
a
West Virginia Coal & Coke Corp.
Electric
During the war emergency, Electric Machinery's production has. been
capital surplus of $10,000,000 for any write-downs of its
utility plant resulting from orders by the Federal Power Commission
and the Pennsylvania Public Utility Commission.—V. 159, p. 1808.
creating
United States Life Insurance Co.—Business Up 56%—
New
H.
sales;
on
without reducing the number of shares, for the purpose
to $21,750,000
of
President of Worthington,
Worthington
ther
.
Commission at the
corporation
this
Beaver,
electric
as
Electric
other
Commission
Exchange
by
gines.
common
operating deficit since
$24,855;
,
Machinery's major lines include synchronous motors for di¬
rect drive for a wide variety of power plant and industrial machinery,
pre¬
par),
"
Electric
has granted the applica¬
of company to issue and sell at competitive bidding $12,500,000
mortgage bonds, series L, 3%, due May 1, 1974.
:
tion
first
no
$
President of Electric Machinery.
mann,
ton
and accrued expenses, $72,150; $5
(239,200 shares,
(2,485,543
$5,828;
$30,103,691.
Liabilities—Reserve for taxes
preferred stock
For
Invitation
Co.—Public
Power
to reduce the stated value of its no par common stock from $31,750,000
delivered,
not
but
sold
interest accrued, etc., $88,172;
receivable,
$29,304,064;
securities
$705,627;
Nil
$Loss.
is
Securities
The
Assets—Cash,
$
37,317,815 132,712,07^. 130,823,538
1600.
Harry C.
23.
May
$84,565
March 31, 1944
Consolidated Balance Sheet,
$0.31
by
inviting proposals for the purchase as a whole of an
$12,500,000 first mortgage bonds, series L, 3%, due May I,
Such proposals will be received by the company at Room 901,
first
Net
'
Y>
1944—4 Mos.—1943
$
$
37,810,667
Co., Minneapolis, Minn., established in 1897,
of
The
Net
shares.
Penn
Company
1974.
8^166
,
1944—Month—1943
V:'
W'orthington Pump & Machinery Corp.—Acquisition—
1941
$$11,302
Nil
1942
$$4,163
posals For Purchase Of $12,500,000 First Mortgage Bonds
issue
r___
:
_i___
159, p.
as
not re-
taxes
inc.
1944 and
West
i
Balance
V.
t After Federal income taxes of $123,000
$109,000 in 1943.—V. 15.9, p. 1393.
"On 409,313
Expenses
'
■
Purchase
1943
$$133,801
1944
$$184,879
$0.45
Quar. End. Mar. 31—
24,805
dividends
taxable
as
12,231
648
____
received
'■
Sales
Inc.—Earnings—
Webster Eisenlohr,
$319,820
$275,777
—
__
Securities
1943
.7'/
Period End. Apr. 30—
■
1807.
p.
Statement, 3 Months Ended March 31
1944
Green,
P.
(F. W.) Woolworth Co.—April Sales Up 1.4%—
v
W. Clement, Pierpont V. Davis, Walter
James L. Homire, Frank C. Nicodemus,
Martin
Allen
assets of
the net
1944
.Consolidated Income
Cash
shareholders held on May 16 at St. Louis,
Arthur K. Atkinson, Charles
S. Franklin,
Jr., Norman
B. Pitcairn, J. Leonard Replogle, A. Wessel Shapleigh, George H. Sido,
Tom K. Smith, Edward D. Stair and Augustus E. Staley, Jr.—V. 159,
Belknap,
corporation had an indicated
value, based on market quotations, of approximately $31,645,252, which
is equivalent to approixmately $132 per share of first preferred stock.
On
annual meeting of
At the
Mo., the following were elected directors:
terly Report—
J.
G.
White
Engineering
Corp.—V.
has
139,
Earns,
profit
per
com.
"Including
and
-
Chilean
$0.16
share-
Canadian
subsidiaries, but
branches.—V.
159,
p.
388.
excluding English
$0,05
subsidiary
;
Volume
159
2127
FINANCIAL CHRONICLE
THE COMMERCIAL &
Number 4283
•
-Net Earnlngs-
Gross And Net
Earnings Of United States >:
States in the calendar,
Operations of the railroads|ih vlhe^ United
r
to find that the
high levels and exceeded those of any
the
being able to maintain of ratio
62.43% in comparison with a
These results were accomplished in spite
New
railroads in the movement of troops
second six months separately:
•
1943
.
Operating
Ratio
of
or
expenses
+ 1,051,826,823
\
>' '
to earnings
expenses
«/ (62.48''+)
-
1 $3,401,544,877 $2,864,864,444
earnings"
Net
1943' ■
earnings
Gross
1942
•
$4,346,663,733
2,630,545,492
$3,280,758,417
2,157,1-43,907
1.^—$1,716,118,241
0.68
+21.28
+22.86
.•
1119990287562456437—0—.
8
11199940223386574867——
ind
",0
to
Louis
the Pacific.
$1,685,426,636
$1,741,249,934
of
monthly high levels were reached in gross and
net. In the last four months the figures declined and in the case of
'the net were actually below those of 1942 in the last three months.
-In the following table we furnish comparisons of the monthly totals
all time
"
.
,
and
line
a
^
;
.'
——;—GROSS EARNINGS-—
V—
'•
—
MILEAGE
•
Inc. (+ ) or Dec. (—J
1942
1943
Month—
1943
•;
663,533,786
480,688,115
462,482,830
540,300,226
+215,950,337
748,797,529
759,330,030
747,372,904
572,529,082
+176,268,447
601,063,784 +158,266,246
623,695,612 :, +123,677,292
•July
August
"September
791,195,916
800,232,157
776,539,717
665,180,069
683,805,652
697,792,911
+126,015,847
+116,426,505
+ 78,746,806
October
796,282,370
762,057,485
781,758,867
745,582,947
690,108,064
702,994,899
+
+
+
_
Portland,
Regior.
north of a lint
■April
May
-
June
,
November
December
+30.79
+26.33
+19.83
+18.94 229,430 231,046
+17.03 229,300 230,805
+11.28 229,218 230,442
+ 6.80 229,168 230,141
+10.43 229,099 230,031
+11.21 229,085 229,603
50,699,423
71,949,421
78,763,968
which follows
we
furnish
-Gross
Year
back to
Year
(—)
9.42
173,028
2,322,549,343
282,453,959
+ 12.16
228,508
2,597,783,833
239,011,258
9.20
237,554
225,027
233,829
2,805,084,723
2,835,109,539
30,024,816
—
1.06
241,423
238,275
3,012,390,205
2,790,810,236
221,579,969
+
7.94
3,162,451,434
2,972,614,302
3,166,214,616
3,019,929,637
+
4.72
239,691
242,931
239,625
2,235,164,873
2,536,914,597
2,605,003,302
—
.*
•
'
'
" '
,
1
*•
:•
+
$
247,132,860
255,074,479
■March
-
——
$
.
+115,183,651
+120,195,582
131,949,170
134,878,897
July
—
August
-
October
—-
—
November
—
__•
^December
—
-
——
+100,859,254
245,225,980
+ 50,208,034
274,705,768
284,516,331
298,087,633 *
+ 49,834,688
282,712,452
259,838,916
186,867,878
—
-September
205,790,570
225,577,824,
324,540,456
332,944,921
298,466,028
—
+126,662,741
306,649,824
304,968,698
-
'
_
"
180,147,743
329,157,826
283,691,655
271,090,763
.
+ 79,390,874
■
+ 48,428,590
+
~
—
—
—
378,395
46,445,374
23,852,739
84,220,885
%
+57.29
+89.11
+70.31
+49.01
+35.19
+20.47
+18.14
+17.02
+ 0.13
—14.22
— 8.41
—31.07
ranged from 12.59% in the Pocahontas
region
region. In the case of the met
earnings the smallest increase (5.63%) is shown in the New England
region and the largest gain (31.66%) in the Southwestern region. As
'previously explained, we group the roads to conform to the classification of the Interstate Commerce Commission. The boundaries of the
different groups and regions are indicated in the footnotes to the
!to 30.22%
in the Central Western
•
"
table.
..
'
.
5,522,522,416
6,342,058,872
5,608,371,650
5,961,186,643
6,177,280,802
6,332,874,535
5,977,687,410
6,435,539,259
6,195,259,346
6,169,453,120
1925—
—
1927—
6,168,119,487
1928:.
6,339,24(5,882
5,335,131,510
4,230,360,663
3,157,463,014
—
GROUPS—JAN. 1 TO DEC. 31
SUMMARY BY
Inc. ( + ) or Dec. (—)
$
$
1 Eastern District—
$
37,689,293 +13.37
209,075,308 +16.69
239,247,795 +15.66
Total (51 roads)
1,462,123,200
1,766,990,673
281,952,269 +
1,253,047,892 +
1,527,742,878 +
3,548,755,435
England region (10 roads)«...
Lakes region (23 roads)
Central Eastern region (18 roads)^.
New
Great
!
3,062,743,039 + 486,012,396 +15.87
1,293,755,973
1,052,924,537 +
319,641,562
Southern
region
423,385,855
240,831,436 +22.87
376,050,812 +
47,335,043 +12.59
(30
...1,717,141,828
roads)—
Western District—
288,166,479 +20.17
'
785,490,091 + 153,565,627 +19.55
1,548,646,819 +, 468,011,366 +30.22
640,367,677 + 192,751,388 +30.10
-
roads).*—
939,055.718
Central Western region (16 roads)— 2,016,658,185
Southwestern region (20 roads)
833,119,065
Northwestern region (15
Total (51 roads)—
Total all districts (132
1,428,975,349 +
-
roads)
3,788,832,968
9,054,730,231
2,974,504,587 +
814,328,381 +27.38
7,466,222,975 +1,588,507,256 + 21.28
246,356
243,636
249,081
247,936
249,098
247,868
250,193
+ 11.62
233,014
232,639
Declines
5.25
233,985
234,264
235,765
234,579
—10.68
235,690
0.80
235,654
234,777
235,338
+13.08
235,461
+
371,687,892
5.87
234,795
+
199,593,392
+
3.34
236,330
+
266,086,139
+
4.31
3.93
236,891
238,527
0.49
240,626
2.63
241,625
242,517
—
—
—
253,305,228
30,265,342'
—
162,305,781
—1,014,198,837
—1,105,303,735
—1,071,798,819
27,892,564
175,551,942
178,356,824
601,299,505
113,818,463
+
—
+
—15.97
—20.72
—
0.88
242,764
242,043
241,111
+
5,68
+
were
ning a
235,705
234,622
236,139
235,809
237,799
239,536
239,482
242,169
242,582
242,056
coats and furnishings
moderate.
Furriers, begin¬
new
reported in¬
season,
Employment
dropped
for the apparel group and
creases.
3.2%
13.4%.
payrolls declined
employment and payrolls occurred
in food, textiles, furniture, paper,
239,075
240,840
printing, leather, glass and abra¬
sives. These ranged from 1 to 4%.
In the furniture industry, where
5.46
237,659
238,960
many
+ 17.45
236,759
237,918
235,991
material
2.81
—25.34
225,053
firms have war contracts,
shortages and cuts in
overtime were reported.
4,158,453,384
599,528,218
—14.42
3.558.263.834
3,987,625,975
4,288,847,139
7.52
232,781
233,464
+
'+24.56
232,192
232,824
7,466,223,077
5,342,255,003
+
+ 39.76
231,012
232,188
in
7,466,222,975
+
429,428,841
299,820,042
1,053,407,864
2,123,969,074
1,588,507,256
+ 12.07
9,054,730,231
+ 21.28
229,256
230,836
rest of the State; the
+
+
235,470
234,436
$660,753,545
1907—
694,999,048
;
901,726,065
—
909,470,059
—
883,626,478
-
937,968,711
907,022,312
—
828,522,941
1,040,304,301
1,272,639,742
—
1,215,110,554
3918
905,794,715
764,578,730
461,922,776
958,653,357
^
——
1922—
1,141,598,071
.1923
1,410,968,636
1,424,240,614
-
1,604,400,124
1,731,509,130
1,579,621,895
1926_
—:
'
—
—
1931——
1932
1933-
———
-
1935——
—
-
—
—
-
—
—
1940_
1941—iL—.'
1942_w-—
—
1
-
-
.
1,706,067,669
1,798,200,253
1,367,577,221
971,654,527
733,368,461
859.639,828
830,442,174
859,473,948
1,121,241,272
1,047,043,870
843,060,935
1,076,494,031
1,206,734,953
1,682,327,593
Preceding
$665,280,191
748,370,244
750,685,733
900,473,211
907,914,866
877,617,878
940,509,412
904,448,054
828,650,401
1,036,016,315
1,275,190,303
1,190,566,335
908,058,338
765,876,029
402,150,071
951,497,925
1,161,243,340
1,409,433,583
1,428,508,949
1,602,513,558
1,735,075,393
1,600,897,886
1,706,917,540
1,799,945,914
1,367,459,116
977,800,101
733,168,657
846,562,604
833,545,337
858,417,431
1,121,154,894
1,047,043,262
843,133,884
1,076,433,617
1,207,437,133
2,864,897,652
1,682,270,377
3,401,544,877
2,864,864,444
Increase
(+) or
Decrease (—)
—
—
$4,526,646
53,371,196
151,040,322
+
8,996,848
+
24,288,388
—
%
■
—
—
0.68
7.13
20.12
+
City firms experi¬
decrease
"New York
enced the same relative
-Year Earnings-
Year
Year Given
Year
-
both
in
declines
"Noteworthy
235,413
234,482
233,468
Calendar
i
of
manufacture
the
men's suits,
+19.82
millinery.
and
wear
in
+ 21.40
+
—
—
children's
249,879
every
group
4,287,446,017
5,342,255,003
—
1943
+
6.54
5.06
+
apparel
3,558,925,166
—
1934
Total
3,445,337,606
4,044,634,921
+
industry in
including all
branches of men's, women's and
children's clothing was affected
by the seasonal decline in April.
Women's tailoring firms had large
decreases, as did factories making
"Practically
the
236,000
+ 17.36
—
equipment
and
Shipbuild¬
3,987,692,675
—
—
1930
District—
(26 roads)—-..—
Pocahontas region (4 roads) —
Southern
•
3,267,164,788
4.229.261.833
4,158,453,384
1939
1921
Gross Earnings—
1942
1943
■
3,156,755,105
3,091,492,502
3,445,521,612
4,046,637,111
1932—
5,335,664,398
3,128,862,541
3.267,044,444
1931
1940:
6,448,564,574
6,198,384,829
6,176,941,101
6,349,330,347
3920
District and Region
.
1,026,235,925
664,027,980
43,693,964
733,687,222
5,552,022,979
1919
'•*
„
—
6,204,785,141
—
geographical
divisions, according to their location, we find that in both the case
of the gross and net earnings that every district the Eastern, Southern
'and Western as well as all the regions in these districts record gains,
•The increases in gross
+
6,216,050,959
5,478,828,452
5,173,647,054
4,036,866,5 65
4,915,516,917
1924_
the roads are arranged in
When, as is our custom,
5,178,639,216
3,707,754,140
4,900,759,309
—
1923——
Inc. (+) to Dec. (—).
.
306,810,484
-
—
May
'
•
258,130,137
4,138,433,260
1921
—
295,434,014
I
•
-April
•June
'
.
"January
1942
$
1943
,
Month—
February
NET EARNINGS
—
+
3,180,792,337
3,013,674,851'
3,155,292,405
1926
+
+
142,521,797
208,178,035
152;539,765
547,647,836
430,679,120
863,892,744
3,702,940,241
—
+
reported by producers
were
April.
197,237
+
in payrolls.
ing was the only war industry to
have
increased
employment
in
171,316
199,726
$196,906,154
+
—
whole showed de¬
in employment
a
2.4%
of
communication
Year
—11.89
$2,090,595,451
—'
any
aircraft, tanks, guns, ammuni¬
tion,
machinery,
electrical and
Preced'g
301,749,724
—$2,287,501,605
,
employ¬
scientific instruments.
Given
(+) ox-
Dec.
both
in
of
Mileage
Inc.
Preceding
,.
..
"Fewer workers and lower pay¬
-
Earnings-
Year
•
payrolls among war in¬
sharper in April than
of the preceding four
The metals and machin¬
and 3.4%
of the yearly
' ;
reports
throughout
cover
factories
ery group as
the Mississippi Rlvei
a summary
Infor¬
was
months.
rolls
1
1920——
,,,
in
and thence to El Paso
Louis to Kansas City
Given
•;;+>'
State.
dustries
the section lying between
and
Patton,
2,797
ment and
to the Gulf of Mexico.
1907:
*
I
+39.97-229,525
B.
"Curtailment
,
to both gross and net earnings for each year
as
1913——A—_
229,693 231,644
229,628 231,592
231,555
229,403 231,499
229,357 231,368
229,302 231,368
+39.66
+43.47
+190,646,036
+201,050,956
756,250,563
^71,334,151
January
February
'March
1942
E.
creases
from St.
and
Statistics
on
the
by
mation under the direction of Dr.
City and thence to El Paso and by the Mexican boundary
Region—Comprises
and including
1903
,
1
r
•
'k,«
based
are
tabulations
of
Division
the
1910__—iwc..—-2,836,795,091
dot all of 1943 and 1942:
statements
preliminary
vSY-;
In .the table
Year
for
above
^
Chicago to Peoria and thence to St. Louis, and
Kansas
Louis
St.
Calendar
April was 152.1, which
represents
a
decrease of 5.2%
from April, 1943. The payroll in¬
dex
was
186.0, a drop of 0.9%
since last April. Average weekly
earnings decreased to $46.48 in
April from $47.59 in March. The
boundary of Vir¬
W. Va., and south
and thence by the
■
employ¬
of factory
"The index
ment
north of a line from Chicago to Omaha and thence to
..
Southwestern
south
earnings for the calendar years 1943
in August
ports:
Region—Comprises the section south of the Northwestern
line from
month-by-month comparison of railroad gross
comparisons
and 1942, we find that
Turning now to a
boundary between New
to Chicago, and north of a line
adjoining Canada lying west of tht
section
the
plants, says the
who further re¬
curtailment in war
from
Region—Comprises
petroleum,
uting to the total drop were the
slump in apparel and
Commissioner,
States.
V WESTERN DISTRICT
'
except
seasonal
•■U-
Region—Comprises the section north of the southern
Western
a
St.
,'rom
—
*
and net
Corsi.
the most effective factors contrib¬
SOUTHERN DISTRICT
md by the Rio Grande
Net earnings
;
;;
•+//■■/;.
,•
EASTERN district
by the Columbia River to the Pacific.
Central
-
+27.6?
$4,185,464,558
2,444,214,624
.
Commissioner
industries
all
-
Great Lakes Region,
3,022,639,862
$4,708,066,498
$1,123,614,510
—~
Operating expenses
v';-
.
Region—Comprises the section on the Canadian
S Northwestern
—
Second Six Months
1943
1942
First Six Months-
-
$536,680,433
+
largest since the
1943, peak, according
12 by
statement issued May
a
Industrial
Southern
west of
;
classification of the Interstate
the confines of the different
of the roads conforms to the
and the following indicates
England Region—Comprises the New England
Pocahontas
Deer. (—)
—
1,580
^ +$1,588,507,256
230,836
5,653,185,354
—
+536,680,433 +27.65
ginia, east of Kentucky and the Ohio River north to Parkersburg,
jf a line from Parkersburg to the southwestern corner of Maryland
Potomac River to its mouth.
% .+
4,601,358,531
(61.63%)
229,256
earnings
Gross
(+)
Amount
to
+304,151,222 +25.41
130,382 1,501,214,976
the
was
November,
Region—Comprises the section east of the Mississippi River and south
if the Ohio River to a point near Kenova, W. Va., and a line thence following the
:astern boundary of Kentucky and the southern boundary of Virginia to the Atlantic
'
months and the
Incr.
cline
the section south of the Great Lakes Region east
jf a line from Chicago through Peoria to St. Louis and the Mississippi River to the
Tiouth .of the Ohio River, and north of the Ohio River to Parkersburg, W. Va., and a
ine thence to the southwestern corner of Maryland and by the Potomac River to its
nouth.
•,;
\ +
'V,/
".'••■ -+ ■
and -.war
$9,054,730,231 $7,466,222,975
132 roads
Mileage Of
•
1942
■"
1,197,063,754
employment in New
2% between
payrolls de¬
creased 4%. The employment de¬
State dropped
March and April and
Central Eastern Region—Comprises
the calendar year 1942, a gain of
annual periods and for its first six
both for the full
grouping
Commission,
Great Lakes
will now turn to the actual statistics.
earnings reached the total of $9,054,730,231,
against $7,466,222,975 for
Factory
York
+15.02
+27.61
+31.66
230,836 3,401,544,877 2,864,864,444
Sngland and the westerly shore of Lake Michigan
trom Chicago via
Pittsburgh to New York.
$1,588,507,256, or 21.28%; Net earnings increased to $3,401,544,877 from
$2,864,864,444 in 1942, an increase of $536,680,433, or 27.65%. In the
following tabulation we show the totals for 1943 as compared to 1942,
as
28,769
'
these higher costs, and lower rates.
find that gross
we
296,330,707 + 44,508,960
630,756,014 +174,176,986
269,977,033 •+■ 85,465,276
and regions:
jroups
supplies are well known, so we
Here
340,839,667
804,933,000
355,442,309
region.
Note—Our
the current year will continue at high
the war is in progress, net earnings will be
The effect on the
55,861
28,946
districtS-229,256
Commerce
earnings of the carriers in
affected adversely by
Payrolls Drop 4% Lower
"While reductions were general in
While it is to be expected that the
18, 1942.
as
45,575
region 55,292
—.129,551
all
Total
-
levels and as long
609,344,201
Jobs
Drop 2% in April
+124,223,793 +20.39
733,567,994
Total
set¬
1943, increases in freight rates which had been
effective since March
193,230,934
the Interstate Commerce Commission in
plies and the action of
ting aside on May 15,
6,057
10.23
+25.67
+ 7.72
+110,376,893
+ 13,846,900
429,960,167
179,384,034
region- 45,490
Southwestern
made retro¬
of 1943, increased cost of material and sup¬
active to the early part
540,337,060
43,747
West,
Central
operating expense due to higher labor costs,
of increased
37,690
+ 108,305,418..+
56,707 1,166,761,907 1,058,456,489
43,430
Northwestern
1942.
of 61.63% sin
ratio
+
District—
Western
to earnings last year of
expenses
+
520,446,919
6,015
_
Total
management Of these properties in
of
432,285,971
563,316,672
37,415
region
Pocahontas region-
other calendar year in the
presented again display the efficiency of
results now
491,771,162
Southern DistrictSouthern
history of the railroads..
The
25,868
24,201
56,275
Total
•..
domniated by war activities and it is no surprise
gross and net earnings of these carriers attained new
1943 were again
year
%
5,950,474 + 5.63
59,485,191 +13.76
42,869,753 + 8.24
+
111,674,073
NY State Factory
+) or Dec. (—)
%
105,723,599
6,638
England, region6,599
Great Lakes region- 25,671
Central East, region- 24,005
New
Railroads For Tfte Calendar Yearl 943
Incr. (
$
$
1942
1943
Eastern District—
1942
1943
—Mileage—
District and Region
as did the
payroll drop,
however, was sharper in the city
because of the greater effect of
the seasonal slump
in apparel.
total
employment
employment in the city was
Total
down 2%
while payrolls declined
1.00
+
—
2,69'
+
60,350,833
+
6.88
—
33,487,100
—
3.56
75,925,113
—
5.9%.
—
211,653,900
236,623,427
+
+
—
—
—
—
60,079,749
284,771,620
143,479,608
303,953,253
8.39
+
25,54
+
22,84
—
—
-+
—
4.71
15.80
39.69
249,725,296
14,807,031
21,50
12.31
8.96
6.57
+
—
5,35
+
—
—
395,804,589
—
244,431,640
126,471,171
16,120,430
+
25,928,611
+
262,823,841
—
—
+
19,98
1.05
432,368,693—
—
+
—
24.02
28.94
25.00
17.25
payrolls
were
reported
by
women's
suits,
skirts, children's
cloth¬
of
+
3.11
+
30.62
74,111,024
—
203,982,327
233,360,147
—
+
6.6t
19.48
27,68
130,301,336
+
12.10
+
474,890,460
+
39.33
+
1,182,627,275
+
70.30
536,680,433
+
coats and
ing and millinery.
Furriers
27.65
Men's clothing
moderate
had
firms
the
were
fhe apparel group to
decreases.
only
ones
in
expand their
forces.
"Most
York
workers,
this
craft,
war
City
1.90
+
+
and
manufacturers
8.05
105,169,783
91,282,713
+
The
cuts in employment
drastic
most
employ¬
in payrolls.
ment and 15.3%
+ 138.30
155,453,498
+
556,503,286
190,100,146
128,995,572
+
clothing indus¬
the
in
23.92
175,891,175
+
"Losses
try amounted to 3.6% in
industries
in New*
operated with fewer
reduced
and
month.,
Producers
scientific
payrolls
of
air¬
instruments and
communication equipment had the
greatest losses.
Shipbuilders hired
additional employees.
THE COMMERCIAL
2128
State and
& FINANCIAL CHRONICLE
Monday, May 22, 1944
City Department
BOND PROPOSALS AND
NEGOTIATIONS
additional pledge of said District's products
of petroleum accruing
at 3% when sold to the July 1, 1944. Denom. $1,000. Due distributive share of a tax of two under Section 16 of Article IX of
will pay the highest July 1, 1957. Principal and inter
the Constitution of the State, by
cents per gallon on sales of gaso¬
Arkansas (State of)
est payable at the Exchange Na
price therefor, the Board reserv¬
or
other like
products of the terms of which the Legisla¬
April
Revenues
Up
Slightly
tional Bank, Tampa. Bonds to bear line
ing the exclusive and unqualified
ture of the State is required to
Over 1943—Gross tax collections
interest in multiples of lA or one- petroleum accruing under Section
right to determine who is the
16 of Article IX of the Constitu¬ continue the levy of said tax for
of the Arkansas Revenue Depart¬
best bidder and to reject any or tenth of 1%, at the. lowest rate
tion of the State by the terms of a period of 50 years from Jan. 1,
ment for April amounted to $2,all bids.
The payment of said obtainable when sold at par, or at
594,167, compared with $2,540,875 bonds and the interest thereon 3% when sold to the bidder who which the Legislature of the State 1943, and is prohibited from with¬
is required to continue the levy drawing
the
proceeds thereof
in the similar 1943 morth, Murray
will be secured by a pledge of the will pay the highest price thereof,
of said tax for a period of 50 years from the operation of said con¬
B.
McLeod,
Commissioner, re
full faith, credit and taxing power the Board reserving the exclusive
stitutional provision during said
from
Jan.
1, 1943, and is pro¬
ported recently.
unqualified right to deter¬
of said County, and an additional and
For the first ten months of the
mine who is the best bidder and hibited from, withdrawing the pro¬ period. Coupons representing in¬
pledge of said County's distrib¬
ceeds thereof from the operation terest to July 1, 1944, will be de¬
fiscal year, through April, 1944,
utive share of a tax of two cents to reject any or all bids. The pay¬
Constitutional provision tached before deliveryAahe bonds
collections were $29,622,931,
ment of said bonds and the inter¬ of said
per gallon
on sales of gasoline
against $29,268,189 in the com¬ or other like products of petro¬ est thereon will be secured by a during said period. The bonds will will be awarded to the bidder
be awarded to the bidder whose whose bid produces the lowest in¬
parable 1942-43 period.
leum accruing under Section 16 of pledge of the full faith, credit and
cost
after fdeducting
the
bid produces the lowest interest terest
Gasoline tax collections were up
Article IX of the Constitution of taxing power of said County, and
in April to $819,806 from $807,150
additional
pledge
of
said cost after deducting the premium premium offered, if any. Interest
the State, by terms of which the an
a
offered, if any. Interest on the on the premium, if any, will not
year earlier, but for the
10Legislature of the State is re¬ County's distributive share of a
month period they were down to
premium, if any, will not be con¬ be considered as deductible in de¬
quired to continue the levy of tax of two cents per gallon on
$8,889,615 from $9,520,245.
like sidered as deductible in determin¬ termining the net interest cost. In
said tax for a period of 50 years sales of gasoline or other
ing the net interest cost. In de¬ determining the net interest cost,
from
Jan.
1, 1943, and is pro¬ products of petroleum accruing
CALIFORNIA
interest will be computed to the
hibited
from
withdrawing
the under Section 16 of Article IX of termining the net interest cost,
\\V-1* : "
;
'
interest will be computed to the maturity date from July 1, 1944.
California (State of)
the Constitution of the State, by
proceeds thereof from the opera¬
maturity date from July 1, 1944. Said bonds will be issued and sold
Voters Approve Taxing Certain tion of said Constitutional pro¬ the terms of which the Legislature
Coupons representing interest to by the State Board of Administra¬
Federal Property—An Associated vision during said period.
The of the State is required to con¬
July 1, 1944, will be detached be¬ tion, a body corporate composed
Press dispatch from San Francisco bonds will be awarded to the bid¬ tinue the levy of said tax for a
fore delivery. Said bonds will be of the Governor, Comptroller and
der whose bid produces the lowest period of 50 years from Jan. 1,
on May 17 reported as follows:
issued and sold by the State Board Treasurer of the State, created by
The
proposed State constitu¬ interest cost after deducting the 1943, and is prohibited from with¬
of Administration, a body corpor¬ and existing under Section 16 of
tional amendment permitting Cal¬ premium offered, if any, Interest drawing the proceeds thereof from
ate composed of the Governor, Article IX of the Constitution of
ifornia
to
tax
certain Federal on the premium, if any, will not the operation of said constitu¬
Comptroller and Treasurer of the the State, and pursuant to the ap¬
properties received 375,669 favor¬ be considered as deductible in de¬ tional provision during said per¬
created by and existing plicable statutes of the State and
iod. The bonds will be awarded State,
able and 167,208 unfavorable votes termining the net interest cost. In
under Section 16 of Article IX a resolution duly adopted by said
in returns from 5,545 out of 14,683 determining the net interest cost, to the bidder whose bid produces
of the Constitution of the State, Board, and have been validated
interest will be computed to the the lowest interest cost after de¬
precincts tabulated today.
and pursuant to the applicable by judicial decree. Reference to
The
amendment
will
permit maturity date from July 1, 1944. ducting the premium offered, if
Constitutional
provision,
statutes of the State and a reso¬ said
California to tax land and other The bonds will be isjsued and any. Interest on the premium, if
lution duly adopted by said Board, statutes and resolution may be
sold by the State Board of Admin¬ any, will not be considered as de¬
property in commercial use owned
and have been validated by ju¬ had for a more detailed descrip¬
istration, a body corporate com¬ ductible in determining the net
by the Government.
tion of said bonds. The approv¬
interest cost. In determining the dicial decree. Reference to said
posed of the Governor, Comptrol¬
Constitutional provision, statutes ing opinion of Giles J. Patterson,
Napa, Calif.
ler and Treasurer, created by and net interest cost, interest will be
Bonds Voted
At an election
and resolution may be had for a of Jacksonville, to the effect that
existing
under
Section
16 of computed to the maturity date
such bonds are valid and legally
held on May
1 the voters ap¬
more detailed description of said
Article IX of the Constitution of from July 1, 1944. Said bonds will
bonds. The approving opinion of binding obligations of the State
proved by a wide margin a pro¬
the State,
and pursuant to the be issued and sold by the State
Board of Administration, acting
posal to issue $800,000 in bonds
Board of Administration, a body Giles J. Patterson, of Jacksonville,
applicable statutes of the State
for and on behalf of the County
for the construction of a dam and
corporate composed of the Gov¬ to the effec't that such bonds are
and a resolution duly adopted by
water supply at a site which had
valid and legally binding obliga¬ and, if requested, a copy of the
ernor, Comptroller and Treasurer
said Board, and will be validated
transcript of the proceedings in¬
been selected in the Conn Valley.
of
the
State,
created by
and tions of the State Board of Ad¬
by judicial decree: Reference to
volved will be delivered to the
under
Section
16
of ministration, acting for and on
San Francisco (City and County), said Constitutional provision, stat¬ existing
behalf of said District and, if re¬ purchasers of said bonds, without
Calif.
utes and resolution may be had Article IX of the Constitution of
charge. Enclose a certified check
Charter Amendment Approved— for a more detailed
description the State, and pursuant to the quested, a copy of the transcript for 2% of the bonds bid for, pay¬
of the proceedings involved will
At the primary election held re¬ of
said
bonds.
The
approving applicable statutes of the State
able to the State Board of Ad¬
be delivered to the purchasers of
cently, the charter amendment to opinion of Giles, J, Patterson, of and a resolution duly adopted by
ministration. Certified checks re¬
said bonds, without charge. En¬
acquire Market Street Railway Jacksonville, to the effect that judicial decree. Reference to said
close a certified check for 2% of quire Documentary Stamp Tax at
such bonds are valid and legally Constitutional provision, statutes
properties was approved.
the rate of 10 cents per $100. Sep¬
the State Board of Administra¬
binding obligations of the State and resolution may be had for a
Certified
checks
require arate bankable remittances for
CONNECTICUT
more detailed description of
said tion.
Board of Administration, acting
such tax should accompany each
Documentary Stamp Tax at the
for and on behalf of said County bonds. The approving opinion of
Meriden, Conn.
such checkGiles
J. Patterson,
of Jackson-; rate of 10 cents per $100. Separate,
t
Bond Sale—The $100,000 coupon and, if requested, a copy of the
Miami, Fla.
ville, to the effect that such bonds bankable remittances should ac¬
sewer
construction bonds offered transcript of the proceedings in¬
company such check.
are valid and legally binding obli¬
Certificate Call — A. E. Fuller,
May 18—v. 159, p. 2019—were volved will be delivered to the
Director of Finance, reports that
of the State Board of
Live Oak, Fla.
awarded to Dempsey-Tegeler & purchasers of said bonds, without gations
Administration, acting for and on
all outstanding 2% refunding cer¬
Co. of St. Louis, as %s, at a price charge. Enclose a certified check
Bond Call—Mrs. Henry, Acting
behalf of said County and, if re¬
tificates
of indebtedness of the
of 100.202, a basis of about 0.712%. for 2% of the par value of the
City Clerk, calls for payment on
City, dated July 1, 1935, and July
Dated May 1, 1944 and due $10,- bonds bid for, payable to the State quested, a copy of the transcript June
1, 1944, outstanding refund¬
of the proceedings involved will
1, 1936, all maturing Jan. 1, 1947,
000 on May 1 from 1945 to 1954 Board of Administration. Certi¬
ing bonds, dated Jan. 1, 1937, of
be delivered to the purchasers of
have been called for redemption
incl. Among other bidders were fied checks require Documentary
the City. Said bonds shall be re¬
said bonds, without charge. En¬
on July 1,
1944.
^ - \
the following, all being for %s: Stamp Tax at the rate of 10 cents
deemed and paid on date called
close a certified check for 2% of
Payment of the principal
Cooley & Co., 100.155; Union Se¬ per $100. Separate bankable re¬
at par and accrued interest, evi¬
the par value of the bonds bid for,
amount of said Certificates will
for
such tax
should
curities Corp. and Equitable Se¬ mittances
denced by coupons due on that
be
made
payable to the State Board of
upon
presentation of
curities Corp., 100.097; Barr Bros. accompany each such check.
date, on presentation with all sub¬
Administration. Certified checks
same, accompanied by duly ex¬
&
Co.,
100.041; Lee Higginson
sequent unmatured coupons there¬
Cocoa, Fla.
ecuted assignments in blank, at
require Documentary Stamp Tax
Corp. 100.029.
to attached at the Central Han¬
Bond Call—II. G. Brunson, City at the rate of 10 cents per $100.
the office of the Chemical Bank
over Bank & Trust Co., New York.
New London, Conn.
Clerk, reports that all outstand¬ Separate
and Trust Company, 165 Broad¬
bankable
remittances
Interest shall cease on date called, j
Note Offering—The Director of ing refunding, Series 1937, bonds, should
accompany
each
such
way, New York City, the place of
Finance will receive sealed bids dated July 1, 1937, maturing July check,' ,-v
Marion County (P. O. Ocala), Fla.
payment.
Assignments executed!
until 11 a.m. on May 24 for the
Bond Offering—J. M. Lee, Sec¬
1, 1972, are called for payment on
by administrators, executors, trus¬
Indian River County, Wabasso
purchase of $400,000 notes. Due July 1, 1944, on which date inter¬
retary State Board of Administra- tees, guardians, attorneys, officers;
est, ceases, at par and accrued in¬ Bridge Dist. (P. O. tVero Beach), tion, will receive sealed bids at of
Sept. 20, 1944.
;
/-v. .
corporations, or others acting
Fla.
terest evidenced by coupons due
his office in Tallahassee, until 10
in a fiduciary or representative
FLORIDA
on
that date, upon presentation
a.m.
on May 30 for the purchase
Bond Offering—J. M. Lee, Sec¬
capacity, must be accompanied by
with
all
Bowling Green, Fla.
subsequent unmatured
of $368,000 coupon SBA refund¬
proper documentary evidence of
retary State Board of Administra¬
coupons
attached at the Chase tion, will receive sealed bids at ing, Series 1944 bonds.
Dated authority. No interest accruing on
Tenders Rejected — In connec¬
tion with the call for tenders on National Bank, New York City.
his
office in Tallahassee,
until Feb. 1, 1944. Denomination $1,000. said Certificates after July 1, 194£
May 2 of refunding bonds, issue of
Due July 1, 1960.
Principal and will be paid.
10 a.m. on May 30 for the pur¬
Fort Pierce, Fla.
1942, F. G. Janes, City Attorney,
at the Florida
chase of $60,000 coupon SBA re¬ interest payable
Receivership Terminated—Fed¬
reports that the city rejected all
National
Bank,
Jacksonville. Orange County (P. O. Orlando)*
funding, Series 1944 bonds. Dated
eral receivership under which the
Fla.
tenders of bonds at prices rang¬
Jan. 1, 1944. Denom. $1,000. Due Bonds to bear interest expressed
city-has operated during the past
Bond Offering—J. M. Lee, Sec¬
ing from 77.00 to 80.00.
in multiples of % or one-tenth of
Jan. 1, 1959. Principal and inter¬
six years was terminated by final
1%, at the lowest rate obtainable retary State Board of Administra¬
est payable at the Florida Na¬
Bradford County (P. O. Starke),
decree signed April 20 by Federal
tional Bank, Jacksonville. Bonds when sold at par, or at 3% when tion, will receive sealed bids at
Fla.
Judge John W. Holland. The city's
his office in Tallahassee, until 10
to bear interest expressed in mul¬ sold to the bidder who will pay
Bond Offering—J. M. Lee, Sec¬
original debt of $3,456,000 was re¬
the highest price therefore, the a.m. on May 30 for the purchase
tiples of 34 or one-tenth of 1%,
retary State Board of Administra¬
financed, except for $35,000 bonds,
of $637,500 coupon SBA refund¬
at the lowest rate obtainable when Board reserving the exclusive and
tion will receive sealed bids at
and these latter will be provided
right to determine ing, Series 1944 bonds. Dated July
sold at par, or at 3% when sold unqualified
his office in Tallahassee,
until for as set forth in the decree.
1, 1944. Denominations $1,000, one
to the bidder who will' pay the who is the best bidder and to re¬
10 a.m. on May 30 for the pur¬
for $500. Due July 1, as follows:
chase of $25,000 coupon SBA re¬ Hillsborough County (P. O. Tam¬ highest price therefor, the Board ject any or all bids. The payment
of said bonds and the interest $150,000 in 1958 to 1961, and $37,pa), Fla.
reserving the exclusive and tinfunding, Series 1944 bonds. Dated
thereon
will
be
secured by a 500 in 1962. Principal and interest
July 1, 1944. Denom. $1,000. Due
Bond Offering—J. M, Lee, Sec¬ qualified right to determine who
payable
at the First National
July 1, 1949. Principal and inter¬ retary State Board of Administra¬ is the best bidder and to reject pledge of the full faith, credit and
taxing power of the County, and Bank, Orlando. Bonds to bear in¬
est payable at the Florida Na¬
tion, will receive sealed bids at any or all bids. The payment of
an
additional
pledge
of
the terest expressed in multiples of *4
tional Bank, Jacksonville. Bonds his
office
in
Tallahassee
until said bonds and the interest there¬
or one-tenth of 1%, at the lowest
to bear interest expressed in mul¬
10 a.m. on May 30 for the pur¬ on will be secured by a pledge of County's distributive share of a
rate obtainable when sold at par,
tiples of y4 or one-tenth of 1%, at chase of $130,000 coupon SBA re- the full faith, credit and taxing tax of two cents per gallon on
or. at 3% when sold to the bidder
lowest rate obtainable when sold1 funding, Series 1944 bonds. Dated power of said District, and an sales of gasoline or other like
^
f
at par, or
ARKANSAS
bidder who
'
'
*
..."
-
\
.
—
'
.
.
,
.
t
.
,
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
Volume 159
the ■ highest price
therefor, the Board reserving the
exclusive and unqualified right to
determine who is the best bidder
who ■■••will: pay
and to reject any or all bids. The
payment of said bonds and the in¬
terest thereon will be secured by
Districts and
Road and Bridge
an
Board of Education
on
before
or
Districts/ May 4, 1944, in order that
additional pledge of the
distributive share of a tax of two
may be verified and
cents per gallon on sales of gaso¬
line or other like products of
puted
petroleum accruing under Section
16 of Article TX of the Constitu¬
pledge of the full faith, credit tion of the State, by the terms of
and taxing power of said County, which the Legislature of the State
and an additional pledge of said is required to continue the levy of
County's distributive share of a said tax for a period of 50 years
tax of two cents per gallon on from Jan. 1, 1943, and is prohi¬
sales of gasoline or other like bited from withdrawing the pro¬
products of petroleum accruing ceeds thereof from the operation
said constitutional
provision
under Section 16 of Article IX of of
the Constitution of the State, by during said period. The bonds will
the terms of which the Legislature be awarded to the bidder whose
bid produces the lowest interest
of the State if required to con¬
tinue the levy of said tax for a cost after deducting the premium
period of 50 years from Jan. 1, offered, if any. : Interest on the
1943, and is prohibited from with¬ premium, if any, will not be con¬
drawing
the
proceeds
thereof sidered as deductible in deter¬
from the operation of said consti¬ mining the net interest cost.
In
tutional
provision
during
said determining the net interest cost,
period.
The bonds
will
be interest will be computed to the
awarded to the bidder whose bid maturity dated from July 1, 1944.
a
same
interest
com*
that
cash
warrants
drawn on the City Treasurer may
be issued dn payment thereof,
so
2120
Board of Education calling for an' cipal amount of bonds bid for, ms
issue of $36,000 Teachers' salary {guarantee of good
faith, must be
bonds.
furnished by bidders.
Omaha
Township (P. O* Omaha),
III.
Bond
Sale
Details—In
consolidated
■■
>'.<\v
-
///•;//:';•' Island), III.
disclosed
operation
•/■• ./<
'•
At the time the various districts
merged, debts included $13,641,149 bond and interest tax war¬
were
Bonds
Publicly Offered—Wil¬
liam Blair & Co., of Chicago, are
offering for sale $115,000 2%,%
land purchase bonds.
Bonds
connec¬
Chicago Park District (P. O.
tion with the sale of the $10,000
Chicago), III,
road improvement bonds, report
Debt Greatly Reduced in Past
of
which
appeared
in v.
159,
Decade—In the ten years since 22
p. 2020, W. D. Skelton, Township
separate municipal bodies were Clerk, reports that the bonds were
consolidated
into
the
Chicago sold as 4s, and mature
$1,000 Dec.
Park District, the total debt has
1, 1946 to 1955.
been slashed almost $53,000,000,
Rock Island County Forest Pre¬
from
$127,138,307 to $74,400,195
serve
District (P. O. Rock
on March 31, 1944, a study of the
recently.
Ringgold County (P. O. Mount
Ayr), Iowa
,
Sold—County Treasure?
Earl T. Hoover reports that $425,000 refunding bonds were pur¬
chased recently by Halsey, Stuart
&
Co.,
Inc.,
interest
0.50%,,:
of
•
at
slightly
an
over
;/ ■■///;■.;
Sac
Bond
Chicago,
of
rate
City, Iowa
Election
—-
Mayor H. R.
Klove reports that a special elec¬
tion will be held on May 24 to
have the voters pass on the issu¬
ance
of
$29,000 airport bonds,
Storm Lake, Iowa
Dated Feb.
Bond Election—The City Coun¬
rants;
$5,750,833
corporate tax 1, 1944. Denomination $1,000, Due
cil recently took action on peti¬
warrants; $$,993,958 floating debt, Dec. 1, as follows: $6,000 in 1948
tions calling for an election on.
largely unpaid salaries and trade to 1950, $7,000 in 1951 to 1957, and
accounts; and $102,752,367 funded $8,000 in 1958 to *1963. Principal May 22 to vote the airport pur¬
and interest payable at the Dis¬ chase and equipment bonds in an
debt.
*::.v'/■■• //'•.
Said bonds will be issued and sold
amount of $43,000.
Funded debt alone has been cut trict
Treasurer's
office.
These
by the State Board of Administra¬
more than $3,600,000 each year on
bonds, issued for the purpose of Story County (P. O. Nevada), Iowa
tion, a body corporate composed
the average since consolidation, to providing funds to purchase land
of the Governor, Comptroller and
Correction
In connection with
the present liability of $66,509,273. for the District, are payable from
Treasurer of the State, created by
the sale of the $100,000 County
In the year ended March 31, 1944, taxes levied withing the limits as
the existing laws under Section 16
hospital bonds to the lowa-Des
funded debt decreased $5,971,074. provided by law, against all the
of Article IX of the Constitution
Moines National Bank & Trust
Floating debt has been more taxable property located within
of the State, and pursuant to the
Co., of Des Moines, as Is, report
than halved and at the end of said District. Legality approved
of
which
applicable statutes of the State
appeared in v.
159,
March amounted to $2,395,380/ a by Chapman & Cutler, of Chicago.
and resolutions duly adopted by
p.
2020, G. H. Ludurg, County
reduction during the ten-year pe¬
said Board, and will be validated
Winnebago County Non-High Sch. Treasurer, reports that the bonds
riod of $2,598,578.
were sold
at a price of 101.055,
District (P. O. Rockford), III,
by j udicial decree. Reference to
Outstanding
tax
anticipation
said Constitutional
instead of 101.50.
Bond
■.
produces the lowest interest cost
after deducting the premium of¬
fered, if any. Interest on the pre¬
mium offered, if any, will riot be
considered
as
deductible in deter¬
mining the net interest cost. In
determining the net interest cost,
interest will be computed to the
maturity date from July 1, 1944.
Said bonds will be issued and sold
by the State Board of Administra¬
tion, a body corporate composed
of the Governor, Comptroller and
Treasurer
iand
o
of
the
State,
created
existing under Section 16 of
Article IX of the Constitution
of
the State, and pursuant to the ap¬
plicable statutes of the State and
a resolution duly adopted by said
Board, and will be validated by
judicial decree. Reference to said
Constitutional provision, statutes
and resolution may be had for a
more detailed description of said
bonds. The approving opinion of
Giles J, Patterson, of Jacksonville,
to the effect that such bonds
valid and
legally binding obliga¬
tions of the
State Board
ministration, acting for and
half
of
are
said
of Ad¬
on
be¬
County
and, if re¬
quested, a copy of the transcript
of the proceedings involved will
be delivered to the purchasers of
said bonds, without charge. En¬
close a certified check for 2%
of
—
>
had for
and
a
checks
require
Enclose
of
the
the
certified
a
10 cents per $100.
able remittances
pany
Separate bank¬
should
accom¬
each such check.
[ Polk County Special Road find %
Bridge Districts (P. O. Bartow),
Fla.
Bond Offering—J. M.
retary State
stration will
Board
Documentary
rate
of
10
check for 2%
for, payable to
of
Board
Certified
Administra¬
checks
Stamp
cents per
require
at the
$100. Sepa¬
tax
rate bankable remittances for such
tax
should accompany
each such
check.
IDAHO
Bond
Election
Held—An
elec¬
ford), III.
Bonds Voted—An election held
of
at his office in
10
bonds.
Tallahassee, until
May 30 for the pur¬
chase of $111,000 coupon SBA
refunding Series 1944 bonds as
a.m.
on
reduced
Sale
by
the district there has been
ural
improvement
There
225
were
issues
the
at
tion,
with
from
4%
of
nat¬
outstanding bond
of
time
6%.
The
with
varying
last
the sale of
bonds to
^ec- J'_as foP°^s/ $5,0001 May 5 authorized distribution
$10,300 in $16,036 to various judgment hold
and
claimants
~
1959
Charles City, Iowa
Bond Election
the
county, according to report. The
payment will liquidate about 8%
of debt claims filed in the court
IOWA
aggregated $3,310,000.
against
ers
bond
issue sold by the consolidated dis¬
trict was of 20-year maturity and
City Clerk J. by 24 creditors. At the request of
that
a Alfred Holman, Cincinnati attorheld on ney, the court set May 20 to hear
faced with the problem
of reorganizing and refunding the June 5 in order to have the voters a request that the county be enpass on the issuance of $150,000 joined
finances of the new body.
from disbursing tax reThe
Memorial Building bonds.
' '
Illinois
ceipts, except to meet emergen cy
legislature authorized a
needs,
refunding program in 1935, and
Grinnell, Iowa
early the next year Halsey, Stuart
Bonds Voted—At an election on
Corbin, Ky.
& Co., Inc., carried out the plan.
May 8 the voters authorized an
After the various districts
were
merged in 1934, the commission¬
ers
were
Since
that
job,
to
the
tremendous
district
meet
an
refund¬
has
never
interest
date
W.
McGenney
special election
—
reports
will be
Pro-Rata
issue of $125,000 memorial build¬
ing and equipment bonds.
Iowa
promptly, and has discounted all
Dills during the ten years.
When
Bonds
Offered
bids
lections, and has annually become
completely liquid.
The
district is
Monroe
Bond
of the
Isabella
largest park and recreation estab¬
to
County (P. O. Albia), Iowa
Election—County Auditor
Hope reports that an
election
now
one
have
will
the
be
held
voters
on
pass
June
on
5
the
Payment
Appeals at
that
August F. Becker is entitled to
get $3,770 with interest from the
City, as his pro rata share of fund
collected to pay city bonds. The
ruling, affirming Wfnitley ^Circuit I
Court, referred •■./to *' Mr, ^Bpcker's
claim -that the city after i it be¬
came apparent the fund for pay¬
ing off the bonds had become in¬
solvent, paid certain bonds ahead
of those held by Mr. Becker, de¬
clared:
"The
city violated the
duty of pro rating the funds col-,
lected by paying certain of the
bonds in full after the insolvency
was apparent."
::■:.//
//;, /
ports,
Sealed
—
Interest
Ordered—According to press re¬
the
Frankfort
City, Iowa
the
lishments in the world. It operates
the Garfield Park Conservatory,
Bushnell, IU.
:
connec¬
the $80,300
KENTUCKY
Boyd Easton, of
Rockford, as l%s, at par, report
Clay County (P. O. Manchester),
of which appeared in v.
159sjp.
2020, Paul S. Conklin, District
Payment To Creditors—Federal
Secretary, reports that the bonds District
Judge H, Church Ford on
deficit
consolida¬
rates
coupon
to
a
credit.
tion
Details—In
refunding program were received until May 17, by
tion was held recently to submit was carried
out, $5,000,000 of re¬ Geo. J. Dohrer, City Clerk, for
to the voters an issue of $45,000
volving fund bonds were issued to the purchase of $62,500 swimming
hospital bonds.
provide working cash. This fund pool bonds. Dated June 1, 1944.
has been replenished each year Due on Nov. 1 as follows: $7,500
MUHOIS
since for all transfers made to in 1945; $8,000, 1946 to 1951, and
Ash Grove Township (P. O. Mil• corporate funds pending tax col¬ $7,000 in 1952.
recently resulted in favor of issugin $27,000 road improvement
receive
been
$13,896,440 in the decade, to $5,495,542.
;
Along with the lowered debt of
failed
(P. O. Emmett),
V'/ Idaho '-"vv--.
have
warrants
ing
Gem County
Lee, Sec¬
Admini¬
sealed bids
bid
bonds
State
tion.
Docu¬
mentary Stamp Tax at the rate of
descrip¬
The approving
opinion of Giles J. Patterson, of
Jacksonville, to the effect that
such bonds are valid and legally
binding obligations of the State
Board of Administration, acting
for and on behalf of said Special
Road and Bridge Districts and, if
requested, a copy of the tran¬
script of the proceedings involved
will be delivered to the purchas¬
ers of said bonds, without charge.
bid for, payable to the
Board
of Administration.
Certified
detailed
more
tion of said bond.
the bonds
State
resolutions
i sib n,
may be
p r o v
statutes
Court
of
held
recently,
issuance of $50,000 county hospital
Planetarium, the Buck¬ construction bonds.
/,/'■■;
^ follows:
---As V V'■
"\'-r
ingham
Fountain,
the
Lincoln
Oelwein, Iowa
gas revenue refunding bonds to Park zoo, 136 parks and hundreds
/
Frankfort, Ky.
$22,000 Special Road and Bridge
Bond Offering — Sealed bids
Carleton
D.
Beh
Co., of Des of beaches, pools, tennis
Bond
District No. 10 bonds. .• Due
Offering — Mervin Parcourts, will be received
until 7:30 p.m.
Moines, report of which appeared and other facilities.
/; July 1, 1958.
rent, City
Clerk, will receive
on May 22, by H. J.
in v. 159, p. 1811, Rex Lomas, City
Finders, City sealed bids until 8:30
p.m. on May
18,000 Special Road and Bridge
Cook County (P. O. Chicago), III. Clerk, for the purchase of the
Clerk reports that the bonds were
22 for the purchase of $31,000 not
District
No.
3
bonds.
Due
Tenders Wanted
sold at par and bear 3%% inter¬
Victor L. following bonds aggregating $70,- to exceed 2lk%
refunding bonds.
July 1, 1958.
est. Dated Sept. 1, 1943. Denom. Schlaeger, County Treasurer, will 000:
>/• \r : Dated June 1, 1944. Due July 1,
$0,000 Special Road and Bridge
receive
sealed
tenders
until $40,000 municipal swimming pool as follows:
District No. 9 bonds. Due July $1,000. Due Sept. 1, as follows:
$1,500 in 1945 to 1956,
11 a.m. on May 26 of series A and
bonds. Due as follows: $1,000 and
$2,000 in 1946 to 1949, $3,000 in
$1,000 in 1957 to 1969, with
1/1955.
1950 and 1951, $4,000 in 1952 to B refunding bonds of 1936. A sum
on Nov.
1, 1945; $2,000, Nov. the option to redeem the 1955 to
15,000 Special Road and Bridge
of $845,500 is available to pur¬ v
1, 1946 to 1963, and $3,000 on 1969 maturities on interest pay¬
District No. 12 bonds.
Due 1954, and $5,000 in 1955 to 1960.
Bonds maturing in 1955 to 1960, chase such bonds, at prices not to
May 1, 1964.
ment dates on or after July 1/
July 1, 1958.
/ ;>■
redeemable Sept. 1, 1954, or any exceed par and accrued interest.
30,000
airport bonds/ Due on 1954, upon terms of 101 lfz plus ac¬
13,000 Special Road and 'Bridge
interest payment date thereafter.
Nov. 1 as follows: $1,000 in crued interest at the
District No. 13 bonds.
Due
coupon rate.
Cook County Forest Preserve Dist.,
1945, $2,000 in 1946 to 1958, Principal and interest payable at
July 1, 1957.
Chicago Board of Education, III
/■,/"/ / in. :
and $3,000 in 1959.
the State National Bank of Frank¬
13,000 Special Road and Bridge
Bonds Called—J. B. McCahey,
Tenders W a n t e d—William J.
District No. 19 bonds.
Due
Dated May 1, 1944. Interest pay¬ fort. The City agrees to furnish
President, Board of Education, Gormley, District Treasurer will
July 1, 1957.
called for payment on May 5, the receive sealed tenders until 11 able M-N. Open bids will also the approving opinion of Chap**
be received. Both principal and man & Cutler, of Chicago, recit¬
Dated July 1, 1944. Denomina¬ following warrants:
a.m.
oh
M ay 26
of refunding
tion $1,000.
Principal and inter¬ V Building fund, 1931, warrants bonds of 1936, Series A and Se¬ interest will be payable at the ing the conclusion that said bond#
office of the City Treasurer. Bid¬ are valid and
est payable at the Florida Na¬ Nos. B-101704 to B-101810, dated ries B,
binding obligations
Subject to certain terms
ders should specify the rate of
tional Bank, Jacksonville. Bonds Nov. 21, 1934.
and conditions, legally acceptable
of the City, and that all taxable
to bear interest in multiples of 14
interest, but no award will be
Building fund, 1933, warrants, tenders received offering bonds at
made on any bid of less than par property in the city is subject to
or one-tenth of 1%, at the lowest
Nos. B-15709 to B-15718, dated the lowest
prices will be accepted
and accrued interest. All
other the levy of taxes to pay the same
rate obtainable when sold at par, April 12, 1935.
in amount or amounts sufficient
or,at 3% when sold to the bidder
things
being equal,
preference without constitutional or statu¬
Building fund, 1934, warrants (exclusive
of
accrued
interest
will be given to the bid of par
who will pay the highest price Nos. B-7030 to B-7031, dated Oct.
payable under the tenders) to ex¬
tory limitation
as
to
rate
or
and
accrued interest
or
better
therefor, the Board reserving the 7, 1935.
haust the sum of not to exceed
amount, the cost of such opinion
exclusive and unqualified right to
Playground fund, 1933, war¬ $201,000 available for the pur¬ which specifies the lowest coupon
to be paid by the purchaser. The
determine who is the best bidder rants
Nos.
P-2312
to
P-2314, chase of the bonds by the district: interest rate. The city will furnish
the approving opinion of Chap¬ cost of
and to reject any or .all bids. The dated Jan, 28, 1935.
printing the bonds will be
Cook County School Dist, No. 102 man and Cutler, Chicago, and all
payment of said bonds and the in¬
Playground fund, 1934, • war¬
paid by the City. Enclose a cer¬
(P. O, La Grange), III.
bids must be so conditioned, A
terest thereon will be secured by rants No. 410, dated Feb. 15,, 1934.
tified check for $1,500, payable to
check
on
a
state
or
a pledge of the full
Bond Resolution Passed—A res¬ certified
Holders of these warrants were
faith, credit
the City,
and taxing power of the Special required to present them/to the
d
olution was passed recently by the national bank for 2% of the prin.
Bond
Sale
tion with the
Details—In
sale
connec¬
the Adler
of the $56,000
,
—
-
.
•
f-
Blyth & Co.,
Bond Offering—Hazel M. Lar
kin, City Clerk, will receive sealed
bids until 8 p.m. (EWT) on May
29
for
the purchase of $90,000
funding bonds.
Dated
June 1,
1944.
Denomination $1,000.
Due
Illinois Co.,
1, as follows: $4,000 in 1945
to 1947, $5,000 in 1948 to 1953, and
$6,000 in 1954 to 1961. Bonds ma¬
turing June 1, 1950 to 1961, are
optional for redemption on Dec.
McDonald-Coolidge & Co.,
Trust Co. of Georgia,
Atlanta,
will
Maysville,
No
bid
for
crued
of the
and
than 103
less
ac¬
a
be
bonds, payable to the City
Treasurer.
Bond
and
Sale
A.
West Lib¬
16—v. 159,
1908—were awarded to Charles
Hinsch & Co., and the W. C.
basis of about 2.656%.
Curtis, of Chicago,
La.
&
Jackson
Campbell,
Co., Ira Haupt & Co.,
&
of
New
H. Little
York, C.
&
Co., of Cincinnati, and Stern Bros.
&' Co., of Kansas City, paying a
price of 100.006, a net interest cost
&
of
'
Jackson, Widmann
of
Co.,
1.4512%,
$648,000 maturing June 1,
$50,000 in 1947, $139,000 in 1948,
$147,000 in 1949, $154,000 in 1950,
$158,000 in 1951, as 214s; $866,000
maturing June 1, $162,000 in 1952,
$167,000 in 1953, $174,000 in 1954,
$179,000 in 1955, $184,000 in 1956,
as
l%s? and $1,666,000 maturing
June 1, $190,000 in 1957, $197,000
in 1958, $203,000 in 1959, $307,000
in 1960 and 1961, and $462,000 in
'"For
1962, as l!4s. Other
of
year.
Payable at the First Nation¬
of Boston and will be
Bank
al
May 25, 1944.
authenticated
The notes will be
genuine¬
validity by the First
National Bank of Boston, under
advice of Ropes, Gray,
bidders were:
the
to
as
$997,000,, lV2s,
$369,000, VAs, and
the
purchase
$500,000
discount of
anticipation
at
revenue
1944, dated May 24, 1944
and due Dec. 15, 1944.
notes of
1.59734%.)
National Bank of Commerce,
New
Lynn, Mass.
Orleans,
Inc.,
Stranahan, Harris & Co.,
B. J. Van Ingen & Co.,
following report on the decrease
from the
& Co.,
Provident Savings Bank &
Trust Co., Cincinnati,
Weil, Roth & Irving Co.,
in bonded debt is taken
"Telegram-News"
Lynn
of
May
June 5
water revenue
coupon
Dated
bonds.
June
1,
1944.
June 1,
to 1952,
nomination
$1,000. Due
$15,000 in 1946
and $20,000 in 1953, with
tion of redemption prior
as
De¬
follows:
the op¬
to ma¬
bonds maturing on or
after June 1, 1950, on any interest
date on or after June 1, 1949, at
of
plus accrued
par
Rate
order.
numerical
verse
Frank & Belden,
$4,327,500
the lowest since
'
ley,
Mayor Arthur J.
of
of V\ of
Fraw-
took
when Lt.
forces, the bond
reduced by better
tered the armed
Co.,
debt
jointly,
For $490,000, 2V4s,
$2,228,000, l%s, and
$462,000, 1V4S
—100.006
(Net interest cost 1.6736%.)
$2,000,000, Crane reveals.
In
April of 1942, the bonded
indebtedness
of Lynn was $6,than
lower
it
has
been
or
$2,026,000
is
Today
353,500.
reduced
al¬
33V3%.
most
of the sale, the fol¬
been
has
as
interest
lowest
to principal
cost
to
the
In determining the
offered if any.
interest cost, interest on pre¬
net
will
deductible.
not
considered
be
as
Interest will be com¬
office in April, puted from the date bids are re¬
Albert Cole en¬ ceived to the respective maturity
who
1942,
and
the
mium
Under
& Co.,
—
Registerable
1%.
and
the
first
call
date on
callable
bonds. No bid for less than all of
the bonds will be considered. The
dates
bonds
the
non-callable bonds,
on
will
be
revenues
payable only from
of the water system
provision for the payment of
of operation and main¬
tenance, and will be secured by a
first lien on such revenues.' The
after
expenses
the heavy drop was
Crane said
additional information regarding the offering was made attributable
to
the
policy
of
"available by W. M. Duffourc, Secretary of Board of Commissioners: Mayor Frawley in refusing to right is reserved to issue addi¬
"We wish to call to the attention of prospective bidders that our borrow while curtailed municipal tional bonds of
equal standing and
lowing
New York bond
attorneys. Wood,
Hoffman, King and Dawson, have
resolution adopted
by it on April 3, 1944, authorizing the sale of this issue of $3,180,000
of refunding bonds, that the new issue is to be designated as Series
A, B and C, in the manner hereinafter set forth. This designation
into Series A, B and C is intended to represent the amount of bonds
in each of the three outstanding issues now being refunded.
No
preferential rights in payment are given any one series over the
notified
the Board that
in accordance with the
Each enjoys the same
other.
$3,180,000.
entire issue of
numbered from A 1 to A 188, incl., maturing
B, numbered from B 1 to B 1600, incl., maturing
C, numbered from C 1 to C 1392, inch, maturing
Series A,
Series
Series
Series A
A 1 to A 188
Year
1947
1948
_____
IIIIIIII
1950
________
5,000
5,000
5,000
________
1951
$
1952
1953
1954
1960
1961
1962
_____________
_____________
_____
_____
Total
50,000
50,000
350,000
1958
1959
_______
$
$188,000
50,000
50,000
50,000
50,000
50,000
146,000
:
$1,600,000
MIC
V.W"
123,000
128,000
134,000
141,000
$1,392,000
iai,t
mat
uic
50,000
139,000
162,000
167,000
174,000
*
179,000
184,000
$25,000
700.
be
■•■"V
which
count
Deficiency ac¬
another accurate
status
is
of
barometer
also
the
city's financial
indicates
prosperity,
according to Crane. - •
While in 1942, the city had $46,909.34 in this account, today the
balance amounts to the respec¬
(State of)
ments
for
improve¬
additional
and extensions.
Bids shall
conditioned upon the
unquali¬
opinion of Miller,,, Canfield,
Paddock & Stone, of Detroit, ap¬
proving the legality of the bonds:
The cost of such opinion and the
$3,180,000
lluilXUCi
lllg
UJ.
payable
at
maturity.
The
No.:7
day
number
year
of days
basis.
on
a
No proposal;
1944.
considered.
loan
The
repre¬
approximately 27% of the'
of City tax levied on the
tax roll for operating pur-,
1943
The 1944 operating taxes'
pledged. Bids shall be con¬
upon
the
unqualified
poses.
are
ditioned
opinion of the purchaser's attor-^
approving the legality of the!
notes.
The cost of such opinion1
ney
and the cost of
shall
be
printing the notes1
the purchaser.
paid
by
certified check for
2%<
of the par value of the notes
bid'
Enclose
a
for, payable to the City.
(State of)
Michigan
■
.Post-War
Plans^
Development
Under
Way—Michigan's cities and.
towns
are
receiving
$5,000,000 •
from the State to spend on plans >
and blueprints for post-war con¬
struction and development.
The;
money was appropriated
by the.
State
Legislature recently from
the State general fund, and will
be distributed by the State Ad-'
ministrative Board,: according to ;■
the
American
Public
Works
sociation.
As¬
;
.
the
Under
for disbursement of
will
the State
providing 1
the $5,000,000,
upon applica¬
program
pay
half the costs of drawing up
tion
plans, the. rest to be provided by
counties, cities, villages, town¬
districts.
The
the Michigan
State Planning
Commission and;
the State Highway Commissioner
provide
that
one-third
of
the;
State's share be paid to the local
agency when the project receives
initial approval, one-third# when
completed plans are approved and
ships
and
rules
set
the
rest
school
by
up
when local
accounts
A'C -A
audited.
Of the total State
/■
are
yt'<-*
■
appropriation,
$3,000,000
is allocated to local
governmental units on a popula¬
tion basis, for a wide variety of
District
(P. O. Dearborn), Mich. ->
basis, to cities, villages and town¬
ships for street and public im¬
provement projects.
To county
road commissions, $1,000,000 was
Township School
Mich.
Bond Sale—The
$18,000 refund¬
bonds offered for sale on
April; 3—v. 159, p. 1396— were
Crouse,
Bennett,
360- awarded, to
Smith
&
Co.,
and
McDonald,
Com¬ ing
monwealth figures the interest on
de¬
specifically allocated for
road,
bridge and grade separation plans.
$6,000, payable to the City.
Dearborn
de¬
Interest on notes will be
livery.
exact
the total amount for each year from 1947
stipulated in the original notice of sale."
Boston
shall
May 22,
in
interest cost,
be computed;
net
for
by the
refunding bonds Nos. 114 to 128
and 131 to 155, Series D, dated
190,000 Fipance Board, being in renewal,
of
par
of $2,000,000 notes due Jan. 15, 1935, maturing Jan. 15,
197,000
June 9, 1944. Principal and inter¬ 1955.
;
;• r:.
203,000
est
payable in Boston'-or-New
307,000
Grand Rapids and Paris Townships
York at the option of the pur¬
307,000
Factional Graded School District
chaser. Award of this loan is sub¬
462,000
No. 2 (P. O. East Grand Rapids),
ject to the approval of the Gov¬
Council.
interest
from
deductible
as
the
improvements, facilities and ser¬
vices. Another $1,000,000 is made
available, also on a population
paid
amended, creating an Emergency
and
considered
termining
and
if any. In¬
shall not be.
premium
on
printing the bonds will be
City, Principal and
interest
payable at the Adrian
State Savings Bank, Commercial
Savings Bank, or the Lenawee
County
Savings
Bank, • all
of
Adrian. Enclose a certified check
cost of
500,000 notes. Dated June 9,-1944., > Bond Call—Roy D. Renton, Sec¬
Due June 7, 1945. The notes are retary Board of Education, calls
issued
under
the provisions, of for payment on July 15, 1944, on
Chapter 49 of the Acts of 1933 as which date interest ceases, 4V4 %
ernor
terest
fied
.
Note Offering—Francis X. Hur¬
to 1962 being
-
Excess and
The
of maturities in each year,
as
security with the bonds of this is¬
sue to
an amount not exceeding
present
healthy
condition.
In
1930, the bond debt was $7,862,-
147,000 ley, State Treasurer, will receive
sealed bids until noon (EWT) on
154,000
158,000 May 22 for the purchase of $1,-
the said bonds in three series does not in any way effect the amount
exactly
the
about
table total of $622,535.19.
89,000
92,000
99,000
103,000
107,000
112,000
118,000
300,000
________
bring
Total
$
50,000
50,000
7,000
________
_____ ________
were
helping
Massachusetts
112,000
____.
1949 to 1962;
1947 to 1962;
1948 to 1959.
C 1 to C1392
50,000
50,000
50,000
50,000
300,000
____.
1957
B 1 to B 1600
5,000
5,000
6,000
6,000
6,000
6,000
6,000
7,000
7,000
J
____.
1955
1956
.
Series C
Series B
$
_____
1949
of the
rank and dignity in the payment
accredited
likewise
costs
with
produces the lowest interest
to the City after deducting
cost
interest, in in¬
City after deducting the premium
that
Crane
D.
George
1922.
Steiner, Rouse &
receive
will
Clerk,
the
ditor
to
;
Ballen-
A.
E.
—
purchase of $125,000 not to
exceed 4%
whose
bidder
the premium offered,
sents
sealed bids until 3 p.m. on
for the
City
The notes shall
the
to
amount
Adrian, Mich.-
City
bid
be
MICHIGAN
Offering
awarded
the
for less than all of the notes will
only. The bonds will be awarded
to the bidder whose bid produces
John Dane,
'
Second
0.337% discount.
Lynn's financial condition to¬
appeared sounder than at
any
time'in the past 20 years
with the disclosure by City Au¬
day
bonded indebtedness had dropped
Co.,
bidder was
National Bank, Boston at
interest to be in multiples
Thomas & Co.,
Vercoe &
15—v.
11:
Ryan, Sutherland & Co.,
First of Michigan Corp.,
First Cleveland Corp.,
First National Bank,
Kohlmeyer, Newburger
May
The only other,
1944.
turity
Reported Sound—The
Finances
Barrow, Leary
notes
$200,000
on
159, p. 2020—were warded to the
Security Trust Co., of Lynn at
0.32%
discount.
Due
Nov.
15,
berger,
City Treasurer, will receive bids
until 11 a.m. (EWT) on May 23
„
sale
for
Bond
V. Clancy,
Offering—Leo
Note
____100.001
$300,000, Is
Sale—The
Note
offered
Best, Coo-
Mass.
Brocton,
for
Treasurer's office.
be
at ' the
Payable
1944.
1,
,0.39
______
•Swampscott, Mass.
lidge & Rugg, of Boston.
jointly,
$1,151,000, 2V4s,
$363,000, 2s,
option of the purchaser. Due Aug.
0.387
Boston-
Sachs & Co
Denomina-,
1, 1944.
tion and form of note to be at
and
ness
Ogden, and
Information—Prior to the date
Additional
5,
tion
Memphis,
follows:
as
Dec.
delivered at said bank on or about
(Net interest cost
Goldman,
Dated May
0.385
•__
—
Shawmut Bank,
National
-
$25,000 and $10,000. Due
1944. Issued in anticipa¬
revenue
for the current
Denom.
For
Hibernia Na¬
Stoneham
notes.
000 not to exceed 4%
0.372%
Ripley & Co., Inc.——
County National Bank,
Middlesex
purchase at discount of $200,notes. Dated May 24,
1944.
000
Kingsbury & Alvis,
Condon, of Chicago,
both
the
Fred N.
D'Antoni, Inc.,
both of New Orleans, C. F. Childs
& Co., of Chicago, Braun, Bosworth & Co., R. S. Dickson & Co.,
of Charlotte, Eastman, Dillon &
Co., of New York, Field, Richards
& Co., of Cincinnati, Cruttenden
& Co., of Chicago, M. A. Saunders
& Co., of Memphis, Fox, Reusch
& Co., of Cincinnati, McDougal
Phelps
City Treasurer, will receive sealed
bids until 11 a.m. on May 24 for
Nashville,
tional Bank, B. S.
&
C. Lovett,
Note Offering—John
Jac. P. Ducournau,
O. New
Bond Sale—The $3,180,000 re¬
funding bonds offered for sale on
May 16—v. 159, p. 1701—were
awarded to a syndicate composed
Webber,
& Jones,
Newman, Brown & Co.,
Commerce Union Bank,
r,
Paine,
Scharff
Harriman
Glas & Crane,
Orleans Levee District (P.
of
Sanford,
White, Hattier &
Mass.
Beverly,
-
Discount
Bidder
Harvey Fisk & Sons,
LOUISIANA
Orleans),
1944. Other bidders were:
MASSACHUSETTS
Pressprich & Co.,
Whitney National Bank,
New Orleans,
of¬
Thornburgh Co., both of Cincin¬
nati as 3s, paying a price of 103.00,
a
Woolfolk,
jointly,
For $1,151,000, 214s,
$953,000, 1V4S, and
$1,076,000, lV2s
100.003
(Net interest cost 1.57408%.)
Equitable Securities Corp.,
Eldredge & Co.,
Nusloch, Beaudean & Smith,
Weil & Co.,
Lamar, Kingston &
La Bouisse,
Weil & Arnold,
The $29,000 road
—
refunding bonds
bridge
fered for sale on May
p.
Wheeler &
R. W.
County (P. O.
erty), Ky.
Morgan
and
J. M. Dain & Co.,
'
accepted
certified check for 2%
will
interest
Enclose
furnished
be
connec-
.
Martin, Burns & Corbett,
1, 1949, or any interest date there¬
after, at 103 and interest. The ap¬
proving opinion of E. L. Zeigler
of
Chicago,
May 18 were awarded to
1, 1944. Denom. $1,000. Due $9,000
May 1, 1952 and 1953. Other bid¬
ton, at 0.39% discount. Dated May
ders
were
as
follows: First of
18, 1944 and due $500,000 each on
tion*with the sale of the $600,000 Dec. 14 and Dec.
21, 1944. Notes Michigan Corp., for $9,000, IV2S,'
and $9,000, Is, at a price of 100.2% water bonds to Robert Haw¬ were issued in
anticipation of 1944
kins & Co., of Boston, report of
revenue.
Other bids: Leavitt & 219; John Nuveen & Co., for $18,which appeared in v. 159, p. 684,
Co., 0.399%; National Shawmut 000, iy4s, at a price of 100.34;.
L. G. Smith, District Treasurer,
Bank and First National Bank of Halsey, Stuart & Co., for $18,000,
now
reports that the bonds were
iy4s, at a price of 100.139; Paine,
Boston, jointly, 0.479%; Harriman
sold at par.
Webber, Jackson & Curtis, for
Ripley & Co., Inc., 0.433%.
$18,000, iy4s, at a price of 100.125.
Maine ((State of)
Stoneham, Mass.
Legal List Issued-rr-Homer E.
Ironwood, Mich.
Note Sale—The $100,000 notes
Robinson, Bank Commissioner, has offered for sale on May 15—v. 159,
Note Offering — William L,
issued list of securities certified
p.
2020—were awarded to
the Johnson, City Manage^ will re¬
as legal investments for banks and
Second National Bank of Boston ceive sealed bids until 10 a.m. on
trust companies as of May 1, 1944.
at 0.337% discount. Due Nov. 16,
May 22 for the purchase of $25,Details—In
Sale
Bond
Otis & Co.,
offered
Co., both of Detroit, as
lV4s, paying a price of 100.533, a
basis of about 1.183%. Dated May
the Second National Bank of Bos¬
Kennebunk), Me.
Graham, Parsons & Co.,
June
(P. O.
Wells Water District
•
and
Kennebunkport
Kennebunk,
Smith, Barney & Co.,
Phelps, Fenn & Co.,
Goldman, Sachs & Co.,
F. S. Moseley & Co.,
Sale—The $1,000,000 notes
Note
&
Moore
Somerville, Mass.
MAINE
Rate Bid
Bidder
Maysville, Ky.
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2130
: V,
■,
>
Pentwater, Mich,
>
Bond
tion
j
Details—In connec¬
the sale of the $6,000.
Sale
with
bridge repair bonds to the Oceana
County Savings Bank of Hart, re¬
port of which, appeared
in v. 159,
.
2021, William T. Venn, Village
Clerk, reports that the bonds were
sold at 3s, at a price of 102.408, a
basis of about 1.985%
Due $1,000
p.
.
Aug. 1, 1944 to 1949.
River Rouge
"
School District, Mich.
Lillian Kortick,
Education, reports
that the $48,000 bonds offered for,
sale on May 4—v. 159, p. 1812—
were
awarded
as
follows:
To
Bond
Sale
—
Clerk Board of
Rrann.
Bosworth
& Co.:
Volume 159
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
,
,
1
•
v
St.
of
Louis.
Among other bid¬
following, all of
whom specified a %% coupon:
Harris
Trust
&
Savings Bank,
1945.
Chicago, and Clayton National
,,
jointly,
100.089; .i G. H.
2,000 3j/4% refunding Series A, Bank,
bonds at a price of 106.935, a Walker & Co., 100,056; Dempseybasis of about 0.90%. Issued Tegeler & Co., 100.053; Central
Oct. 20, 1936. Due April 20, Republic
Co., Chicago,; 100.052;
1947. ;.>'e,' City National Bank & Trust Co.,
Kansas City, 100.012.
1,000 3lA % refunding Series B,
bonds, at a price of 107.00, a
$3,000 3%%-refunding Series A,
bonds at a price of 102.415, a
;
basis of about 0.818%. Issued
Oct. 20, 1936. Due April 20,
of
basis
0.88%.
about
35,000 2V2% refunding bonds, at
a price of 103.425, a basis of
about 0.77%. Issued April 1,
:1
1939. Due May 1,1946.
,
the
were
City Clerks office.
Authority for
their issuance is found in Article
16, Chapter 18, C. S. Supp., Ne¬
braska, 1941, and in ah election
held April 18, 1944, the electors
voted 3 to 1 in favor of purchas¬
ing the property and authorizing
the
of
issuance
revenue
bonds.
Legality approved by Wells, Mar¬
tin & Lane of Omaha.
NEW JERSEY
NEBRASKA
Issued
Nov, 1, 1936. Due May 2, 1947.
i
ders
Atlantic
Dunbar, Neb.
City, N. J.
Bond Call—Daniel
2131
For concealed in every tax
hill $300,000.00
of everyone of the 36 municipali¬
ties is a sizable item for debt ser¬
vice
charges that in the aggre¬
gate amount to $4,146,083.
Well over $4,000,000, and half
of it represents interest charges
alone.
The
people of Camden
county are paying $2,104,312.53
this year to bondholders merely
for
the
privelege of spending
money before it is raised by taxa¬
tion. For the bondholder, it's giltedge investment, because state
S.Bader,Di¬ laws assure him that the first
To Refund Bonds—The Village rector of Revenue and Finance, taxes
collected go to him or are
has given notice that it will re¬ reports $299,000 refunding water
reserved for his account until the
fund at 3% an issue of $14,500 bonds are called for payment on
due date.
bonds.
July 1, 1944. Dated July 1, 1936.
Compared to this $2,104,312.53
Said bonds will be paid and re¬
in interest is an expenditure of
Lincoln, Neb.
deemed, on and after date called,
Purchase Of Consumers Power at the National Newark & Essex $2,041,770.52 for debt retirement.
The average tax rate of the
Properties Considered— Mayor Banking Co< of Newark, at a
Re¬ county's municipalities is $4.84,
Lloyd Marti was authorized May demption price for each bond of
and over $1 of it goes for interest
8 by the City Council to appoint the
principal amount thereof and
exclusively. Another dollar goes
a committee of three councilmenaccrued interest to July 1, 1944,
into principal payments to reduce
to negotiate with Consumer Pub¬
and on said date, the bonds, ac¬
outstanding debt.
lic Power District with a view
companied, in the case of coupon
The aggregate tax bill on real
toward purchase by the city of
bonds, by all coupons maturing on estate for all
purposes
in the
district's local properties.
and after July 1, 1944, should be
county this year is $11,861,084.16.
Announcing that he hoped ne¬ presented to said bank for pay¬
Of this total, $4,146,683 represents
gotiations could be completed, on ment. Interest ceases on the bonds
debt service charges alone.
price and terms, in time to sub¬ on date called. ;
The biggest contributor to this
mit to the voters in November
Record
High Tax Collections whopping big sum is the home
the question of a revenue bond
Seen—Under the impetus of war¬ town. For
municipal debt requires
issue, the Mayor added that sub¬ time
prosperity, tax collections in $2,428,745.47 in 1944 budgets, $1,mission of the question would de¬
the
city have reached a point 323,421.82 of it for payment of in¬
pend on whether the city was where the
highest percentage of terest only; the other $1,105,323.65
offered a "fair price and terms."
collections in the citys history is to retire bonds.
"If
we
can
buy
Consumers'
expected before the end of 1944.
Since the local purpose taxes of
property," he said, "it will prove
It is reported that collections up the 36
municipalities total $4,164,advantageous to all government to
April 30 showed 93.97% of the 989, it is apparent that debt serv¬
subdivisions." ■r/
v
1943 tax bills had been paid, in¬ ice alone
accounts for more than
■■
•
To
Miller, Kenower & Co., of
Detroit:
,
:
bonds at
'•
price of 113.405, a
a
of
basis
^
refunding Series A
$3,000 3 lk %
1.64%.
about
Issued
'
Oct.
\J:'
"
1936. Due April 20,
20,
1953.
■
br'■
4,000
4%%: Northrup
school
bonds, at a price of 125.903, a
•
1.775%; Issued
basis of about
Nov.
1,
1953;
::.f
1923.
1,
Nov.
Due
•
Y psilahti Township Fractional Sch.
District No. 2 (P. O, Ypsilanti),
Mich.
•
Bond
Sale
v;?!'''Vo 1
Hart,
Charles K.
—
District Secretary, reports that the
State Savings Bank of
the
purchased
•bonds offered
•IVz^rat
Gagetown,
$12,000
school
Dec. 30. 1943, as
on
par.
MISSISSIPPI
1
more had been con¬
tacted and the prospect of making
exchanges
aggregating
to be in order.
seems
to
In response
question, Mr. Gominger stated
that it was impossible to forecast
the lepgth of time it would take
to complete the refunding as it
was impossible to forecast the at¬
titude of many of the creditors
until the exchanges were actually
a
under way.
After
it
was
that
carried
and
further
some
After
a
the
Bond
reservoir
offered
bonds
water
for
Bond
sale
cluding approximately 97% of de¬
Sidney, Neb.
;•
Sale
—
The
Kirkpatrick-
May 13 were awarded to Cady
& Co., of Columbus as IV2S. Dated
Pettis
Feb.
electric system bonds:
on
Co., of Omaha, purchased
the following $740,000
recently
:*•
Due $1,000 Feb. 1,
1945 to 1964.
Legality approved $140,000 1 Vz % revenue bonds. Due
by Charles & Trauernicht, of St.
May 1, as follows; $20,000 in
Louis.
1945, and $30,000 in 1946 to
1, 1944.
1949.
(State of)
Mississippi
April Tax Collections Set Rec¬
ord—Tax
collection
of
$2,213,819
during
April
represented
the:
highest for that month on record
and contrasted with receipts of
150,000 2% revenue bonds. Due
$30,000 May 1, 1950 to 1954.
150,000 2V2% revenue bonds. Due
$30,000 May 1, 1955 to 1959.
300,000 2%% revenue bonds. Due
$30,000 May 1, 1960 to 1969.
half of the amount.
former
far back as 1934.
The current uptrend was at¬
tributed by Finance Commissioner
Daniel S. Bader partly to local
business gained through military
occupancy of hotels in the sum¬
mer of
1942.
This "lifesaver," it
was pointed out, helped establish
years,
a
due from
taxes
some
as
contrast to the
when the resort
depression years,
was
hit hard by
bank
closings and the general de¬
cline
of tourist
trade.
Mr. Bader said, however, that
the
Army-Navy
business alone
$2,122,013 in the same month of
Dated May 1, 1944. .Denomina¬ would hot have Paused a
justify¬
;1943, it .was announced May 1 by!
: the
Bonds maturing in ing reaction upon municipal rev¬
State Tax Commission.
In¬ tion $1,000.
cluding April payments, total re-! 1945 to 1949, inclusive, are non- enue had not Atlantic City last
ceipts since Jan. 1 last amounted optional. Bonds maturing in 1950 year regained its popularity as the
to
$11,834,897,
compared
with' to 1959, inclusive, are redeemable "World, Playground" for vaca¬
at the option of the City, either in tionists who visited there in rec¬
$10,202,661 for the same periods
whole or in part, on Nov. 1, 1949, ord number
last year.
despite restrictions on
or on any interest date thereafter
Sales tax yields in April were
pleasure driving and over-taxed
at par and accrued interest. Bonds rail transportation facilities,
almost
exactly $100,000 greater
than the same month a year ago. maturing in 1960 to 1969, inclu¬
Although many other Atlantic
.The yield from this source "was sive, are redeemable at the option County municipalities have suf¬
of the City, either in whole or in fered
appreciable
increases
in
$1,155,326. The income tax which
>had smashed all records in March part, on Nov. 1, 1944, or on May their tax rates this year, the city
.showed a decline as compared 1, 1945, at 101 and accrued in¬ has managed to hold its rate to
with April, 1943.
However, in¬ terest; thereafter at par and ac¬ $5.94, slightly less than that of
As
a
recess,
the Commission
cussion, it was regularly moved,
seconded and carried that the as¬
Commission be given
sent of the
the "Resolution creating three
to
separate issues of refunding bonds,
and determining the details, pre¬
scribing the form and authoriz¬
ing the exchange thereof," and the
Secretary be authorized to ex¬
the
ecute
no
NEW YORK
Albany County (P. O. Albany),
N. Y.
.
Bond Offering—John M.
County
May 25 for the purchase of $389,000
exceed
to
not
5%
follOWS:
$39,000
Home
Relief,
debt
of
county
government.
is $501,046.50; slightly more,
$560,925.67 goes for amortiza¬
tion.
][;■
School debt is relatively low in
relation to total expenditures for
education, but at that, payments
this year total $655,365.40 com¬
pared to $3,627,546,55 for opera¬
tions and maintenance.
365.40
for.
is
made
interest
principal.
and
The
$655,-
$375,521.19
r^;
sage
considered
an
tax
fund
N. J.
for
final
pas¬
ordinance*calling for
an
issue of $15,000 not to exceed 5%
street equipment bonds, or bond
anticipation notes.
balance
•
obligations of the City,
by a pledge of, and pay¬
in the face of able solely from the revenues to
May
This balance
was
1 i totaled
•the withdrawal of $16,427,000
in
the Legislature
February, which
■directed to be invested in United
binding
of
secured
on
$11,541,620.54.
derived from the operation of
be
the electric light and power plant,
distribution
and
transmission
lines, which are being acquired by
City as of May 26, 1944. ..The
nection with the program to wipe
out all of Mississippi's direct in¬ City has convenanted and agreed
»States Government bonds in
con¬
the
to
debtedness.
Mississippi's
Legislature
this
•year enacted legislation "salting
away" $21,427,000 in order that all
of the State's obligations could be
wiped out as soon as the bonds
Tell due.
With the general fund
balance continuing to swell, offi¬
,
cials
of the
State
sion expressed
$5,000,000
remaining
could
soon
Bond Commis¬
confidence that the
be
taken
authorized
from
the
treasury and invested in Federal
bonds.
'•■,...■'■••
MISSOURI.
••!
establish
and
to
maintain and
collect rates and charges for elec¬
tric
energy and power as
will
provide
revenue - sufficient
in
amount to pay all costs of main¬
tenance and
operation and pay the
principal and interest of these
bonds as Same become due. Out
of
revenues
of
eration
derived from the op¬
the
electric
system,
after the payment of both interest
and principal, the City has agreed
to create and maintain
for
maintenance
a
reserve
and
replace¬
ments. The City will operate the
.electric system under the man¬
agement
,
of
a
Board
of
Public
Clayton School District, Mo.
1 Works which will be responsible
Bond Sale—Hill Brothers of St.: for the.-efficient
operation of the
bidders on system. The proceeds of sale of
issue of $100,000 these bonds .are to be used' to ac¬
.school bonds, paying a price, of quire certain, -electrical facilities,
; 100.102
for %s, a basis of about real and personal property, fran¬
iO.719%. Dated May 1, 1944 and chises, supplies, and merchandise
due Feb. 1,
as follows: $20,000 now owned
by the Consumers
.Louis were successful
May
15
for
an
$4,292,306.51, and during the
time $385,789.35 had been
collected on personal tax assess¬
of $423,282.18.
ments
In
was
this,
finance
reflected
lVz%
officials
said,
rise of better than
a
in collections since Jan.
1,
when the percentage of collections
was
By
comparison,
on
April
30,
1942, before the Army and Navy
occupied most of the large resort
hotels, the percentage of collec¬
tions on realty and personal taxes
was
88.83%.
Up to that time,
$4,384,825.59 had been paid on an
original assessment of $4,989,839.97, plus a total of $605,014.38 in
delinquent taxes during the same
period two years ago.
Camden County
(P. O. Camden),
n.j.
v;
vv
Bond
-
■
.
1
*
J' ft 1 r4'
Paterson, N. J.
Bond
Ordinance Passed
—
The
Board of Finance passed recently
on final reading an ordinance call¬
ing for
exceed
snow
an
6%
issue of $50,000 not to
street cleaning and
removal
equipment
bonds.
Due in 5 years.
92.26%.
Interest
Payment Exceed
are
issued is
t
terest
or
to
be
in
one-tenth
less
than
all
of
a
Denomina¬
Rate of in¬
multiple of ■'%
1%.
the
No
bonds
bid
for
will
be
considered and the rate of inter¬
est
named
the
same
by
a
bidder must
be
for all the bonds. Prin¬
cipal and interest payable at the
State Bank of Albany,
Albany.
The
bonds
June
will
be
delivered
on
thereafter as
they can be prepared for delivery
at the First National Bank, Bos¬
ton, or at the New York Trust'
Co., New York. Valid and legally
binding obligations of the County
for the payment of the principal
of
6,
or
and
as
soon
interest
on
which
the
County is empowered and obli¬
gated by low to levy on all tax¬
able property of the County such
ad valorem taxes as may be nec¬
essary
rate or
without limitation as to
amount; the purchaser will
with the opinion of
be furnished
Perth Amboy, N.J.
Refunding Bond R e s 01
u
t i
Donovan & Heenehan,
that effect. The
bonds will be prepared under the
Sullivan,
o n
Adopted—The following report is
taken from the minutes of the Lo¬
of New York, to
supervision of and authenticated
cal Government Board, constitut¬
as to genuineness by the First Na¬
ing the Funding Commission, spe¬ tional
Bank, Boston. The enact¬
cial meeting of May 8:
ment, at any time prior to the
Certified copy of "Resolution
delivery of the bonds, of Federal
creating three separate issue of legislation which, in terms, by the
refunding bonds, and determin¬
repeal or omission of exemptions
ing the details, prescribing the or otherwise, subjects to a Fed¬
form
and
authorizing the ex¬ eral income tax the interest On
change thereof" as adopted by bonds of a class or character
the
Board
of
Commissioners
of
which includes these bonds, ■will,
City of Perth Amboy at a at the election of the purchaser,
port is taken from the Camden meeting held on May 3, 1944 was relieve the purchaser from the
filed with the Commission.
The
"Evening Courier" of April 29:
obligations under the terms of the
was
taken
under contract of sale and entitle the
Camden county taxpayers are resolution
paying out more money on bond advisement, following which Mr. purchaser to the return of the
interest this year than on reduc¬ Gominger
appeared before the amount deposited with the bid.
Retirements
tion of
—•
The following
re¬
principal—and each figure
$2,000,000.
The- high
cost of borrowing
money, even when the credit and
from 1945 to 1947 - inclusive and Public Power District, which are total resources
of governmental
$10,000 from 1.948 to 1951 inclu- being acquired under a negotiated I agencies are pledged as security,
Isive. Interest F-A. Legality ap¬ contract dated March 14, ,1944. a lis revealed by analysis of 1944
proved by Charles & Trauernicht copy of which is on file ^ln«fhe taxes and budgets.
bonds.,
same
which the bonds
not less than 5 years.
Dated May 1, 1944.
tions $1,000 and $500.
Consider Final Passage of Ordi¬
nance—The Common Council re¬
cently
;V
■
'
350,00 Tax Revenue, 1943 bonds.
Due $87,500 May 1, 1945 to
1948. Issued to pay Tax An¬
ticipation
notes;
authorized
by the County Law; the pe¬
riod of probable usefulness of
the
object or purpose for
on
..v;
:; Linden,
issued is not less than 10
are
years,
of $279,844.21
up
Maplewood Township
(P. O. Maplewood), N. J.
crued
interest.
Bonds must be 1943. '
yields since Jan. 1 total
Resolution Considered—A reso¬
By April 30, a total of $3,045,$5,054,045, compared with $3,734,-' redeemed in inverse numerical or¬
lution was considered recently by
059 for the same period in 1943. • der.. Principal and interest pay-, 226.12 had been collected since the
able at the County Treasurers of¬ first of the year on the original the Township Committee calling
State Treasurer Newton James
fice.
These bonds are valid and 1943 assessments and adjustments for an issue of drainage system
reported that the State's general
come
:
year
or
Series of
1, as
May
sued to
that debt this
on
Due
as
$4,000
in 1945
to
1953, and $3,000 in 1954; Is¬
pay a portion of the
cost of home relief, author¬
ized by the Social Welfare
Law; the period of probable
usefulness of the object or
purpose for which the bonds
matter
debt.
the
bonds.
1943
bonds
'•
follows:
county tax levy is $2,700,of which $1,061,972 reflects
The interest due
Smith,
will receive
(EWT) on
Treasurer,
sealed bids until noon
The
948,
consents
necessary
thereto.
fact, local purpose levies could
be cut 60 cents if the
municipali¬
ties had
be
again took; up the resolution pre*
viously referred to and after dis¬
of
linquent
matter
advisement.
taken under
.
Amory, Miss.
Sale—The $20,000
discussion,
regularly moved, seconded
.
"
some,
$600,000,00 without undue delay
exceeds
the
Commission
and
outlined
in
de¬
Enclose a certified check for $7,be followed 780, payable to the County Treas¬
by the City in perfecting the ex¬ urer.
changes. He stated that the hold¬
x
Buffalo, N, Y.
ers
of bonds aggregating
some
Bond Offering—Frank M. Davis,
$320,000.00 had agreed to the ex¬
City
Comptroller,
will
receive
change and he further stated that
tail the procedure to
the holders of
some
$200,000.00 to
sealed bids until'11.
a.m.
(EWT)
tirement System.
on May 24 for the purchase of $4,000,000 not to exceed 5% coupon
a
refunding
bonds. wages. The State and the County
1944. Due June 1, have a different rule on the sub¬
as
follows:
■
j'■
$800,000
in
1947, ject.
Rehabilitation — The Common
$1,000,000 in 1948 and 1949, and
$1,200,000 in 1950. Coupon bonds, Council in its Budget message an¬
registerable as to principal and nounced a program of completely
interest, will be issued in the rehabilitating Buffalo's physical
denomination of $1,000, and may plant, notably streets, bridges and
be exchanged for bonds in the buildings.
The
depression and
denomination of $1,000, or mul¬ later the War Emergency have
fund
now
>(or
registered
Dated June 1,
registered
thereof,
to conspired with other circumstan¬
as
and interest at the op¬
Rate of inter¬
principal
ces
to
multiples
in
of said
5 years.
in 1946 to 1951.
vide
the City Comptrol¬
ler's office, or at the Central Han¬
over
Bank &
Trust Co., New
York. Comparison of bids will be
made by taking the cost of in¬
terest to the City at the rate
named in the respective bids and
ful money at
an
of
increase
With a
can write off
$600,000.
little
the
good luck we
entire item in about
basis
four or
and then go on a cash
five years
Budget
item for Uncollected
by including in the
annually
an
Current Taxes. This is the
premium
which
tive towards
bid, if any. No bid. will be ac¬
cepted for less than the par value
of the bonds and accrued interest
are
we
objec¬
striv¬
ing. Erie County has just attained
that goal.
v-.'
Q
Municipal Finance Officers As¬
and any bid not com¬ sociation Conference — Important
plying with the terms of the no¬ business will be on the program
tice of sale will be rejected, and of
Municipal
Finance
Officers
all bids must - be unconditional. Association at the 1944 Conference
The bonds will be delivered to to be held in Cleveland on June
;fhe successful bidder at the City 7th, 8th, and 9th.
^Comptroller's office, or at the
Bond Sale—Note Sale—On May
Central Hanover Bank & Trust
24th, I shall offer for sale $4,000,Co., New York
(the preferred 000
Refunding Bonds and on June
place of delivery must be speci¬
6th, a Tax Anticipation Certificate
fied in the bid), on June 1, or as
of Indebtedness (Renewal) in the>
soon as possible thereafter upon
sum of about $3,000,000. Interested
the payment of the principal bal¬
parties are invited to write, tele¬
ance
due plus accrued interest.
phone or wire for complete de¬
The .legality of the issue will be
tails.
'
' '
"' .
examined by Caldwell, Marshall,
Trimble & Mitchell, of New York,
Elmira, N. Y.
and their favorable opinion will
Bonded
Debt
Reported
Well
be furnished to the purchaser on
Under Limit—The city's bonded
delivery of the bonds.
A pre¬ indebtedness is well within its
scribed form of proposal will be
legal limit as the bonds outstand¬
furnished on application to the
ing
Dec.
31
represented only
.Cjty Comptroller's office, or the
41.3% of the legal borrowing ca¬
above named attorneys.
Enclose
pacity, City Auditor T. Whitney
.a;certified check for .$80,000, pay¬
Iszard told the City Council re¬
able to the City Comptroller.
cently in his annual report.
Text Of Latest News Letter—
A constitutional provision limits
Because of the interest which has the bonded debt to 10% of the
been evinced in past issues of the city's average assessed valuation
sprightly Buffalo .."News Letter," for the current and preceding five
gotten out monthly under the years. The total assessment aver¬
auspices' of the Department of age, as applied to last year, was
Audit
and
Control,
of
which $49,353,774, and the bonded in¬
Frank M. Davis is the presiding debtedness
subject to the limit
•officbr, we give herewith the was $2,039,000.
Y
:y /-'•
No bonds were issued last year,
complete text Of the May 1 edi¬
tion:
■.
when the city's general bond debt
was
decreased $358,000. General
'■
/Birthday—May, 1944 marks the
city bonds totaling $228,000, school
beginning of the fifth year of pub-'
bonds of $70,000 and Water Board
Tication of Buffalo News Letter.
bonds of $60,000 were paid, leav¬
We trust the robust infant has
ing outstanding these bond totals:
not been a complete nuisance, and
general city, $1,347,000; school,
that' its faults are all of the kind
$692,000; water, $120,000.
that time will cure.
Mr. Iszard termed as "amazing"
New Budget — The Common
last year's collection of current
Council voted to refund $4,000,taxes, 98.1% of the $1,214,697.12
000 of 1944-1945 maturities and
levy being collected by Dec. 31.
the State Comptroller gave his
The record on current tax delin¬
approval. The tax-rate will be quencies since 1931 follows: 1931,
about $33.60, an all time high. In
7.7%; 1932, 13.4; 1933, 16.8; 1934,
spite of refunding, t.hp Citv will 16.6; 1935, 15.2; 1936,, 11.8; 1937,
pay off over $10,000,000 of ma¬
3.6; 1938, 10.1; 1939, 8.1; 1940, 7;
turities. In 1945-1946, even with¬
1941, 4.1; 1942, 2.8; 1943, 1.9.
out any Refunding, the tax rate
"The city closed the year with
must be considerably lower. This a
surplus of $376,429.55," the City
is probably Buffalo's last Refund¬ Auditor
reported. "Of this amount
ing—and July 1, 1945 should mark the cash surplus
amounted to
the dawn of a better day for our
$333,178, and the balance of $23,taxpayers. Bond buyers who'have 251.55 represents the uncollected
exhibited
faith
in
Buffalo
are
taxes of the 1943 levy, All of the
thus completely justified. <
budget cash surplus was used as
thereon,
_
„
.
...
;
.
County
.Erie
Taxes
County Treasurer Frank A. Slade
has announced as of the date of
had collected 94.52% of
the 1943 County Tax levy. Ten
years
ago
the matching figure
sale, he
has
Buffalo
76.17%!
was
.625%
an
a
Bond
the
or
Sliding Scale War Time
Payments instead of
Due
The increase requires about
$700,.*000, or a total of just under $2,000,000. Incidentally, City employ¬
ees
pay a percentage of the so"Bonus"
called
l
'
.
*
i
*
to the
!•
t
f
4
'
*'
?
V*
•
A
'•
*
Tax
March
Jacob
Tick,
(EWT)
on
Revenue
15,
as
bonds.
follows:
1945, $840,000 in
1946, $680,000 in 1947, $395,000 in 1948. and $170,000 in
1949.
Issued in anticipation
$815,000
State Re•
—
registered bonds as follows:
$2,900,000
in the current fiscal year.
as
Offering
May. 24 for the purchase of $6,400,000 not to exceed 4% coupon
Emergency
65%
(P. O. Buffalo), N. Y.
sealed bids until 1 p.m.
in 1944-1945 will receive 100%
of
issued is 7 years.
Denomina- i
tion $1,000. Rate of interest to be
in multiples of 44 or one-tenth of,
1% and must be the same for all
of the bonds. All of said bonds
are issued pursuant to Chapter 383
of the Laws of 1944, known as the
Budget Act of the County. The
County operated under the County
Law. Principal and interest pay¬
able at the Marine Trust Co. of
Buffalo, or at the Marine Midland
Trust Co., of New York City. The;
faith and credit of the County will
be pledged for the payment of the
principal and interest, on said
bonds, which will be general ob¬
ligations of the County, all the
taxable
real
property
within
which will be subject to the levy
of ad valorem taxes to pay said
bonds and interest thereon, with¬
out
limitation
as
to
tate
or
amount. In the event that prior
to the delivery of the bonds the
income received by private hold¬
ers from bonds of the same type
and character shall be taxable by
Dated June 1, 1944.
Federal income
May
on
and
predictions" that have been
regarding the city's finan¬
made
1
the past dec¬
cial outlook during
ing comment: v
,
dire threats
and predictions, New York City
has gone on from year to year
paying for its relief costs out of
current
income,
balancing
its
budget, avoiding refunding of all
serial maturities, maintaining full
sinking fund requirements, re¬
porting satisfactory tax collec¬
spite of these
"In
in
such
case
the
deposit accom¬
in
of the collection of taxes
for
occurred during
surpris¬
three years, it is
ing to many of us that the price
on New York City obligations is
not in more favorable relation to
various other issues in the mar¬
ket."
r':-.';
-
New York
'
Holdings Sold—
Comptroller
Frank C.
State
sold
Moore
(State of)
Fund
Sinking
on
May
18 a total of
$7,076,920 of-New York State
municipal bonds which were held
by him in trust for various state
sinking funds—v. 159, p. 2021.
New York
City corporate stock
$4,714,-:
and serial bonds made up
of
920
59
the
and
fered
lots of-?
individual
were
sold
follows: •'
as
Chemical Bank.
$1,273,000 to the
$2,379,920
to the
&
Co.,
Trust
Chase^National Bank and $1,062,the First Boston
000 to
reasonable
;V-Y
Corp.
«>r'%
Olean, N. Y.
.
in the retire¬
7T
creditable progress
ment of debt."
While disclaiming any
\ Bond Offering — Edward W.
Sturm, City Clerk, will receive
sealed bids until 1 p.m.* on May
desire of;
19 for the
purchase of $105,000
critical of the sources of:
not to exceed 5% coupon or reg¬
publicity", Mr. Linen
istered
general;
improvement
analyzed some of the forecasts in
bonds. Dated March 1, 1944. Dethe light of actual developments.
nom.
$1,000. Due March 1, as
Among these was the "prediction
follows: $10,000 in 1945 to 1950,
of Jan. 30, 1939, that the city faced
and $15,000 in 1951 to 1953. Rate
not only an unbalanced
budget
of interest to be in multiples of
unless
economy
and
retrench¬
V\ or one-tenth of 1 % and must
ments were effected but a finan¬
being
such
cial
"bad
likely to be
to the
crisis impended
that
than
worse
leading
edge of bankruptcy in
1932 and
1933."
be the
for all of the bonds.
same
Principal and interest payable at
the Chase National
Bank, New
New York
York, with
exchange.
leg¬
The bonds will be valid and
Mr.
Actually,
"it is
ing
the
there
Linen
observed,
matter of record that dur¬
a
critical; year 1939-1940
reported a surplus of
of approximately $6,900,-
was
revenues
000, which was
transferred to the
account as provided
tax deficiency
obtained
on
New York City bonds
as compared with comparable and
panying his bid will be returned.
even
less favorable credits, con¬
The approving opinion of Vandecerns
the large amount of city
water, Sykes & Galloway, of New.
bonds outstanding. In this respect,
York, will be furnished to the
Mr. Linen stated as follows:
0
purchaser without cost. Enclose a
"The other factor mentioned as
certified check for $128,000, pay¬
responsible for the low prices pre¬
able to the County.
vailing on New York City bonds
New York City, N. Y.
was the large amount of debt out¬
Bond Prices Discussed — It is standing. At the end of the last,
probable that no other community fiscal year, June 30, 1943, the city
in the country has a larger quota had a total funded debt aggre¬
of "forecasters" than the City of gating $2,962,806,834. This repre¬
New York. Practically every day,: sented over. 16% pf all State and
binding general obligations
of the City, all the taxable'real
property within which will be
subject to the levy of ad valorem
taxes to pay said bonds and inter¬
ally
thereon, without limitation as
or amount. Said bonds are
est
to rate'
Chapter 516 of
issued pursuant to
the Laws of 1944,
the City Charter *
Municipal Law for
General
and
the purpose of paying
the cost of
repairing and reconstructing city
property damaged by floods, the
period of probable usefullness of
which is 10 years. The City has
special charter, Chapter 535 of
amended. In
to the deliv¬
ery of the bonds the income re¬
ceived' by private holders from'
bonds of the same type and charf
acter
shall
be
taxable by
the
a
the Laws of 1915, as
the event that prior
of any
terms
Federal income tax
law, the successful bidder may at
his election, be relieved of his
obligations under the contract to
or so it seems, the local press con¬
municipal debt .estimated as out¬
tains reports to the effect that the standing on the same date by the purchase the. bonds and in such
case the ^deposit accompanying hik
municipal government is headed, U. S. Treasury. The amount of
bid will be returned. The approv¬
full speed, toward "bankruptcy" such debt was $18,406,000,000.'. *
ing opinion of Vandewater; Sykes**
or
is
already at the precipice.
"It is not, I believe, generally
& Galloway of New York, will be
These dire predictions are usually
realized that 32% of the total debt
furnished to the purchaser with- :
given widespread publicity in of New York City is held by its
out cost. Enclose a certified check
other parts of the country because own
sinking and pension funds. for
$2,100, payable to the City.
of the pre-eminent position held
Actually on June 30 last, the city
by | the city and in consequence of sinking funds held $481,880,850
NORTH CAROLINA
thb wide distribution of its metro¬
and the pension and retirement
Cory, N.
politan dailies. They usually em¬ systems, under the jurisdiction of
anate
from responsible -sources,
Bond Call— L.
E. Midgette,
the City Comptroller, held $465,such as civic associations, etc., a
Clerk, • reports
that the
641,854. Thus the amount of New Town
fact that lends weight and cred¬
York City bonds in the hands of Town has exercised its option and
ence to their contents.
It is true, the
calls for payment on July 1, 1944,
public was $2,015,284,130.
moreover, that some parts of the
on which date interest ceases, at
"The law of supply and demand
investing public, not being fully
par
andaccrued <V interest, 3 % - I
asserts itself here, and where we
acquainted with the circumstances
find the doors closed to New York 5%% water and sewer refunding
which give rise to these "fore¬
bonds
Nos.
4, 6 and 9 to theJ
City bonds or rigidly limited in
casts", are inclined to accept them
amount of $3,000. Dated Jan. 1;
the amount that will be purchased
at face value.
It is little conse¬
1936.
Due Jan. 1, 1966.
Holders£
or held because of doubts or prej¬
C.-::.y:..:'Cy-;;
quence
shall
have
Jan.
no
structure of the city as
to
investments.
contrary,
the
indisputable,
as
Vice-President
John
it seems
S.
out in
a
Linen,
of the Chase Na¬
tional Bank of New York,
pointed
recent address, that much
generally un¬
warranted publicity is responsible
for the paradox which finds New
York City bonds quoted on more
generous
yields than those ob¬
tainable on
"decidedly inferior
credits and risks in the field of
municipal government."
Speaking on "New York City
Bonds—A Tax-Exempt Investof this adverse and
l
.
place-#
the better
has
■
making
and
tions
the
law,
of
view
which
the past
default, financial crisis, pending
disaster, a grave outlook". After
noting some- of the "dire threats
"It is true also, of course, that
during the years 1939 and 1940, an
extraordinary
number
of New
,
bonds
were
issued.
Since January, 1942, however, the
market has had an excellent op¬
York
•
City
portunity to absorb and quite
fully digest the excessive amount
of bonds issued in the two and a
present their, bonds with
1,1944, and subsequent cou¬
pons attached, at the Chase NaV
tional Bank, New York City.
J \
Franklin
Bond
Clerk
Call
Township, N. C.
Lake
—
V.
-
Shope,
County Board of Commis¬
sioners, reports that 4%% re¬
funding road bonds Nos. 21, 52,
60, 70 and 74, are called for pay¬
ment on July 1, 1944, on which
date interest ceases, at par and
accrued
1937.
Dated
interest.
Jan.
Due
should
present
City, for payment, with Jan.
1945
1,
1,
Co., New
Hanover Bank & Trust
York
Jan.
1967. Holders
bonds at Central
1,
and
attached.
subsequent
Interest
ceases
coupons
on date
preceding., Included in called.
•
*
•:
this amount was approximately
*.
Rutherfordton," N. C.
$300,000,000 of corporate stock is-Bond Tenders Accepted—W. S.
supd Jul connection with .the acTown
Secretary-Treas¬
npisltion of the subway proper¬ Harrill,
ty '4
urer, reports-that the town purhalf years
■
.
Who
.
b
i
f
bankruptcy,
terms as "threatened
successful bidder by the (City) Charter."
may, at his election, be relieved
The second factor believed re¬
of his obligations under the con¬
sponsible for the greater yields
tract to purchase the bonds and
tax
*r
4 f-I
ob¬
ject for which the bonds are
their authors.
year.
County Comptroller, will receive
War Time Bonus—City employ¬
ees
a
Erie County
\yith those of the County.
,
period of probable use¬
the terms of any
City
during ade, Mr. Linen made the follow¬
revenue
fulness of said purpose or
This
more
polite interest in this ex¬
cellent record, because the finan¬
ces of the City go hand-in-hand
then
"In
ment
that, the issues involved
udices'engendered by bad pub¬
bearing on the credit
such, par¬ licity, the effect becomes the more
accentuated. Except for these rea¬
ticularly with respect to its debtsons there is no
satisfactory ex¬
paying ability and outlook. In¬
a credit to reduce
the amount to deed, oftentimes the nature of the planation why New York City
bonds should sell at terms which
be raised for the 1944 budget."
terminology used
employed
in
in many cases are lower than an Tax anticipation notes of $150,- these criticisms is of such char¬
000 were issued Apr. 1, 1943, and acter
as
to imply a threatened ply to decidedly inferior credits
and risks in the field of municipal
paid June 1, The interest rate was condition not even intended by
Erie
—-
County
Issued to pro¬
period of transition from
accrual to a cash basis.
the
The
Floating Indebtedness — As in¬
higher rate of interest than dicated in the March 1944 News
shall be required to insure the Letter, Buffalo in 1944-45 will pay
sale of the bonds at par.
Prin¬ off $1,150,000 of its Tax Anticipa¬
cipal and interest payable in law¬ tion Certificates of Indebtedness,
•
object for
is
3,500,000 General County bonds.
;
•
Due March
15, as follows:
$350,000 in 1945, and $525,000
•no
deducting therefrom the
purpose or
which said bonds are issued
starting
—
ment", before a meeting of the
Savings Bank Bond Men of the
State of New York in New York
3, Mr. Linen em¬
phasized the unfortunate conse¬
quences flowing from the periodic
years 1941, 1942 and 1943. The
period of probable usefulness application to the city of such
now.
one-tenth of
same
:
.
f
produce a "run-down" con¬
in many instances. This is
going to be remedied
of lk or
1%, and must be the
for all of the bonds, but at
be
to
dition
tion of the holcler.
est
V
>
$2,135,000 of Tax notes
outstanding issued in an-
ticipation of the collection of
taxes
levied
for
the fiscal
*•
...
tiples
and to
the current fiscal year
Although called
"Bonus" the payment is legally
Monday, May 22, 1944
FINANCIAL CHRONICLE
THE COMMERCIAL &
2132
i
1
v
r
•'< t.
:
i
' -'J
,
,
'
'
•;
i
j
-T
!' :.
.
chased
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4283
.Volume 159
service
prices
at
bonds
$8,292
bonds.
O. Ruther-
fordton), N. C.
tends
The $64,000 refunding bonds of¬
fered for sale on May 16—v. 159,
awarded
2022—were
ing
,
June 1, as
follows: $6,000 in 1958,
§14,000 in 1959, $15,000 in 1960,
and $40,000 in 1968. Registerable
as to principal only; general obli¬
gations; unlimited tax; delivery at
place of purchaser's choice. Prin¬
cipal and interest payable in New
Bidders
York.
requested
are
to
of the
bonds
(having the earliest ma¬
turities) and another rate for the
balance, but no bid may name
more
than two rates, and each
bidder must specify in his bid the
name
rate
one
for epart
amount of bonds of each rate.
The
basis
of
the
city's
will
outside
appeared in
of
tax
159,
v.
p.
26, for refunding
village, dated Octo¬
1936. Series .and bond
May
ber
on
1st,
covered by
the
following
bonds:
$55,500
.*■/*• v'O
not
In the event
the
exceeding
face
of
extent
thereof to the
value
approxi¬
to
there
is
detail
1950 to 1959.
1945,
■
and
in
$5,000
1946
16
Sale—The
were
National
to
of
Bank
IV2S, paying
Clinton,
as
a
Okla.
Bond Sale—The $68,000 water
port from the above city:
This.city may pay up $20,000 in works system bonds offered for
outstanding general fund bonded sale on May 15—v. 159, p. 2022—
indebtedness and refund $5,000 in were awarded to a syndicate com¬
expenditure of the
posed of the First National Bank
:
: &
Trust Co., C. Edgar Honnold,
Atty. Dan B. Symons, secretary R. J. Edwards & Co., all of Okla¬
of the city sinking fund trustees homa City, and the Small-Mil-
council clerk, made the
and
sug¬
money
measures
burn
Fi¬
the
Co., of Wichita. Due $4,000 in
1948
to
bidder
1964.
was
The
next
highest
J. E. Piersol Bond Co.
Laverne, Okla.
;
Bond Election—An election has
ing fund has enough surplus from
been called for May 23 to submit
heavy tax collections to pay off
to the voters an issue of $10,000
the $20,000 of general fund bonds,
not to exceed 4%
electric light
including $12,000 from the 1936
debt refunding issue and $8,000 system bonds. Due in 10 years.
from the bond issue for the city
McAlester, Okla.
hall and fire station remodeling of
Bond Election-r-Celest O'Ban-
Although there is no
knowing definitely what
cost
to
operate
ol
way
it
Butler
will
during
1944, estimated expenditures are
at $380,130, with $108,400 of
i;his amount going for debt serv¬
be
approved by the people. The
general plan of sewage disposal is
set
known, but exact engineering or
cost data are yet to be provided
by a survey now under way. As
ice.
to the other measures
some
press¬
ing construction needs have been
listed,
but specific
funds
not
are
allocations
given in the
definiteness
for
adverse
committees
on
meas¬
reasons
will
amount.
<
nection
uled
Altoona school district in the past
ten years has been reduced from
$4,492,500, in
1934,
$2,342,000,
to
this
year,
and in the
regular
schedule of reduction the' indebt¬
edness will be down to $390,000
hence in 1954.
district's bonded indebted¬
which stood at $4,918,000 in
1930, dropped below $4,000,000 in
1937, below the $3,000,000 mark in
1942, and will go below the $2,000,000 total in 1946.
Interest paid by the school dis¬
ness,
the
bonded
indebtedness
be
ear
marked
in
the
1944-45
budget being $90,560, more than a
mill of tax, along; with state tax
of $9,368. The total provision in
the
offering sched¬
of the $400,000
31
-
"Tribune"
;V
,
taken from
of May
a report
Scranton
;n r,\:-
/
$480,000 in county bonds
maturing within the next three
months and but $184,000 in the
county's sinking fund with which
to redeemn them, the county com¬
missioners yesterday decided to
float
000
ensuing year's budget for the
next reduction of the bonded in¬
a
for $400,-
bond issue
new
to
provide funds to meet the
bondholders'
The
demands,
:•
issue, to mature over
a
period of 20 years, will :be
known as refunding and road and;
bridge improvement bonds.
Of
new
the $400,000 to be raised, $380,000
will be used to retire an issued
July
of bonds of that amount due
The remaining
1.
$20,000 will be
utilized
to
pay
for
repairs to
county bridges and roads.
A $100,000 issue of bonds ma¬
turing Aug. 1 will be paid out of
the sinking fund balance.
■
Bids
-
has annually amounted to consid¬
erable sum, the amount necessary
to
the
May
With
r
on
with
for
con¬
bond issue, described in our issue
of May 15—v. 159, p. 2022—we
10:
trict
County (P. O. Scranton), Pa.
<.
Additional Information—In
did not find that factor im¬
The
/i'1
■
Lackawanna
the
ten years
estimated
are
reports, the other
reporting
favorably give herewith
portant.
administrative
means
at $271,However, the final figure
probably be less than this
730.
of similar indefinite¬
measures
ness,
the
among
This
expenses
of
ures
or
in supporting literature.
Separate committees reported on
the several measures, and where¬
as two of the
committees cited in¬
Hollis,
y
lower in¬
|
Altoona, Pa.
awarded to the Oklahoma
May 2 carried the following re¬
a
measures
$125,000
...
waterworks bonds at
these
PENNSYLVANIA
price of 100.02, a
1954.;
'/
>•;'•; v
basis of about 1.497%. Due $10,000 in 1947 to 1957, and $15,000 in
:
Elyria, Ohio
1948. The next highest bidder was
Water Bonds Refunding Con¬
R. J. Edwards, Inc.* for 1V2S.
sidered—The Lorain "Journal" of
terest rates.
of
Progress
Made
In
Reducing
air¬ School District's
Bonded Debt—
port bonds offered for sale on May The bonded
indebtedness of the
Bond
50,500 21/4% fire apparatus bonds.
Dated- March
1, 1944.
Due
Sept. 1, as follows: $5,500 in
all
indefiniteness respecting
that will be raised if the
$5,000 2i/2% airport improvement mately $20,000.
bonds.
Dated
Jan.
1,
1944.
OKLAHOMA
"•
Due Sept. 1, as follows: $400
in 1945 to 1949, and $3Q0 in
Clinton, Okla.
proposals.
•
'
Symons said the general sink¬
will be entertained.
until
v
offering to purchase the bonds
at the lowest interest cost to the
such cost to be deter¬
mined
by
deducting the total
amount of the premium bid from
the aggregate amount of interest
upon all of the bonds until their
respective maturities. No bid of
less than par and accrued interest
tenders
numbers shall be stated and bonds
v
gestions to council last night.
nance
committee will study
County,
is
bonds of said
indebtedness
bonds will be awarded to the bid¬
der
sealed
receve
noon
chased
E.r Easter-
Offering—W.
Invited—It
Tenders
accepted tenders shall
be presented on July 1, 1944, for
Bond
Sale—■ Henry
J. Urner, payment with accrued interest to
City Auditor, reports that the City that date. Bonds will be pur¬
Sinking Fund Trustees have pur- chased at the lowest price offered
N. C.
Bond
Wickliffe Village, Ohio
'
,
Director of
the litiga¬ stated by Clerk C. B. Lee that he
the
Cincinnati, Ohio
Sampson County (P.O. Clinton),
ling, Secretary Local Government
Commission, will receive sealed
bids at his office in Raleigh, until
11 a.m. (EWT) on May 23 for the
purchase of $75,000 not to exceed
6 % coupon road and bridge re¬
funding bonds.
Dated June 1,
1944.
Denomination $1,000.
Due
1
Reference to
and
1294.
about 2.21 %. .Dated June 1,
■;
$716,500 ,in refunding bonds,
operating ex¬
penses during 1944 fiscal year.
to provide funds for
Sealed
Currie,
John
to
limitation
price of 100.63, a basis of
1944.
Denomination $1,000. Due June 1,
1966. The next highest bidder was
Stranahan, Harris & Co., Inc., for
2y4s, at a price of 100.36.
11
to
issue
proposal to provide for the matur¬
a
State
Board of Tax Appeals on May
authorized the City of Toledo
ing
Vance, Young & Hardin, of Win¬
ston-Salem, and Crouse, Bennett,
Smith & Co., of Detroit, as 2V4S,
paying
Approved-^-The
to
tion
of Durham,
First Securities Corp.
Bonds
<
in¬
it
and
Finance.
the
to
denied
was
appeal the decision to
the Ohio Supreme Court, accord¬
^
p.
trial
new
As
Toledo, Ohio
1, 1931. The court ordered
the city to amend its budget by
excluding therefrom levies
re¬
quired to meet the indebtedness
in question. City's motion for a
recently, of refunding and funding
Rutherford County (P.
obligations issued after
on
Jan.
ranging from 85.00 to 99.00 in con¬
nection with the call for tenders
2133
the
on
at
to
31
May
Court
when
be
up
they
opened at 11 a.m.
In advertising for
the
will
House
issue
new
the
received
will
:
be
\
.
bidders
on
the
issue
county specifies an
interest rate of from % of 1% to
2%.
The
will
bonds
dated
be
June
1, 1944, and will mature in
$20,000 blocks each year begin¬
The school district has also la¬
ning June 1, 1945 and continuing
bored since 1938 under the neces¬
to June 1, 1964. They will be call¬
sity of making temporary loans to
able at par at the option of-the
complete the current school terms,
county June 1, 1949 or any inter¬
the loans being repaid in the first
non, City Clerk, reports that an
est paying date thereafter. : v
months of the ensuing year from
election has been called for June
the new tax levy. To complete the
Mahanoy City, Pa.
1, to submit to the voters
an
1938-39
term
$528,229 was re¬
Council Votes Bond Payment-^issue of $200,000 water works and
quired, 1939-40 required $382,500, The Mahanoy City "Record Amer¬
sewer bonds.
r.;: ."/■
1940-41, $489,750, 1941-42, $457,- ican" of May 3 carried the fol¬
000 and 1942-43, $474,000.
OREGON
lowing report:
*•-'>
It is estimated that $345,000 will
As anticipated at its meeting a
Huntington, Ore.
be necesary to complete the cur¬ month
ago,
Mahanoy Cijty Bor¬
Bond Offering —A. P. Adams,
rent term and-.while $330,000 has
ough
Council,
&t its regular
City Recorder, will receive sealed been estimated:
for >1944-45 the
monthly
session
last 1 evening,
bids until 8 p.m. on June 5 for the
district is hopeful that the amount voted the
payment of $20,000 in
purchase of $14,000 not to exceed will be further reduced. Under
borough bonds. ;
;
v
',i v
4% coupon city hall, jail and fire
the new policy of operating the
Of this amount, $10,000 fell due
house bonds;' Dated July 1, 1944.
district on a cash basis the temp¬
May 1, while the remaining $10,Denomination $1,000.
Due $1,000
orary loans of the next year have
000, not due until May 1, 1945,
July 1, 1945 to 1958. The right is
1936.
debtedness is
$335,928.
.
.
prior to the delivery of the
bonds income received by private
The
that
holders
from
bonds
of
the
same
$5,000 in waterworks bonds
bear
now
*
5%% interest rate and
a
type and
Symons said he believes they can
be refunded at about 1 Vz %.
All
able by
the
character shall be tax¬
the terms of any Federal
Income ,'tax
law, the successful
bidder may, at his election, be re¬
lieved of his obligations upder the
contract to
purchase the ^bonds
issues
callable
are
this
sum¬
Symons stated.
mer,
•
Middletown, Ohio
Bond ;Sale-~Anv issue
of $2,500
case ,.1jhe deposit.' ac¬
companying his bid will be re¬
turned. The approving opinion of
2%" special" assessment improve¬
Reed, Hoyt & Washburn, of New
York, will be furnished. Enclose
a
certified check for $1,500, pay¬
vestment
^and in such
able to the State Treasurer.
Southern Pines,
Other
Bidders
—
ment
bbnds■
community building bonds to
the First. Securities Corp., of
€00
Durham, and Vance, Young &
Hardin, of Winston-Salem, at a
price of 100.063, a basis of about
1.571%, for $5,000 as 3s, and $28,#000 as IVas, report of which ap¬
peared in v. 159, p., 2022: Kirchofer. & Arnold, for $33,000, 1 %s,
at a price>of
100.563;'McDaniel
Lewis & Co., for $19,000, 2s, and
§14,000, l%s, at a price of 100.015;
R. S. Dickson & Co., for $33,000,
2s, at a price of 100.386; Citizens
Bank & Trust Co., Southern Pines,
for $33,000, 2s, at a price of 100.00;
Fox, Reusch & Co., for $12,000,
4s, and $21,000, lJ/fes, at a price of
100.009.'
;
1
'
Department.
Due
Prin¬
cipal and interest payable at the
City Treasurer's office.
OHIO
New
Bond
reserved
City
Coy,
sealed bids until
Debt
Ninth
in
in
1953
and
1954.
all
and
been provided for in the new bud¬
Bonds
crease
taken
—
The
payment on May 20,
following report is
from the Butler
May 10:
Ore.
Called—The City Coun¬
cil called for
■>' Butler
"Eagle" of
.v:v,
city's bonded indebted¬
;
Bond Measures—We quote
the
The
present
bonded
•
.
indebted,-
appeared
as
in the Portland "Oregonian" of May 3:
The Portland City club, whose
City to be levied within the
10-mill
tion.
1944, lowering the debt to $797,000.
--/.-v.;/:.,;;
The
debt
over
the
past five
practice it is to make painstaking years has been as follows: 1939,
investigation of important meas¬ $1,212,000; 1940, $1,135,000; 1941,
ures submitted to the people, and
$1,043,000; 1942, $961,000; 1943,
make
recommendations thereon,
$879,000.
Constitutional tax limita¬
Principal and interest pay¬
the City Treasurer's of¬
able
at
fice.
No
conditional bids will be
The
received.
approving opinion
of Peck, Shaffer & Williams of
Cincinnati, will be furnished the
purchaser without cost. Enclose a
certified
check
for
2% of the
has
,
Municipal Market Index—J. A.
Prices
market
Co., Cincinnati, advised
in
the
Ohio
as
follows:
municipal
held
steady
and
un¬
changed during the past week.
Our index of the yield on 20 Ohio
bonds
remains
today
Nov:
lower
at
at
1,3,1%,
10
high gr^qe
1.16%
and oil'10
while the yield on
grade bonds 1.46%.
measures
that will be
on
the county and city ballots in the
forthcoming primary election.
These are
a
$12,000,000 bond
proposal for sewage disposal; a
$4,000,000 bond issue for county
road
improvement; a $3,000,000
bond issue Tor public dock im¬
provements; and a special school
tax, limited to five years, to fi¬
nance $5,000,000 in Portland school
improvements. The City club as a
whole, however, overruled spe
(State of )
May 17
approved all four of the tax
and bond
for, payable to the City.
Ohio
follows from an
of the
city is $879,000. This
will be reduced by $82,000 during
ness
cial
committee
mendations
,
on
adverse
the
county road projects.
1939
to
1943,- inclusive,
following sums
c>n
debt reduction, including the
payment for bonds plus interest
due $116,371.66; $130,212.50; $128,221.21;
$120,863.83;
$120,402.90.
This
year ; the
city will spend
$108,400 for
debt service.
Administrative expenses
sive
ated
of debt
during
service have fluctu¬
the
same
period.
However, for the past three years
they have been dropping.
of these bonds
retirement
a? sav¬
ing to the borough is effected as
they bear an interest of 41A%»,r
; The retirement of the bonds was
made
recommendation .of the
on
Committee, Simmons,
5,■',■ v.:. .;'s<
Finance
Chairman.
■
McKeesport, Pa.
Bond Hearing Date Fixed—The
"News"
McKeesport
May
of
9
following report:
the
carried
September date fpr pre-trial
of the : McKeesport im¬
provement bond case was agreed
upon today by attorneys for the
city and suing bondholders.
Appearing before Judge Harry
A
hearing
,
■
,
Rowand of the Court of Com¬
H.
Pleas,* Attorney Jason Rich¬
mon
representing
Attorney
counsel for the
ardson,
K. Eaton,
Oliver
pre-trial;
bondholders, asked for a
hearing May 22.
:
City Solicitor William Moldovart
asked for a fall date to give him
more
the
time to prepare
city,
more
defendant
than
$240,000
case for
suits for
the
in
in
.
outstand¬
ing bonds which the city has re¬
The
attorneys
then
mutually
agreed to Sept, 6 as a tentative,
pre-trial hearing date. The fall
court term starts Sept. 18.
fr
•v'
'
■
■
'
' '
Pennsylvania (State of)
In
run
Boi-
the
to
fused to pay.
exclu¬
1939 it
cost
$254,362.44 to
Butler; 1940, $217,269.79; 1941,
and $247,849.09; 1942, $243,863.94; 1943,
$240,330.71.
recom
sewage
From
the city spent the
available
made
,
ough by the Union National Bank,
holder of the bonds. By the early
has been decreasing steadily
for the past five years, while ad¬
..
Proposed
in part
article which
Local Group Approves
payable from ad valorem taxes
upon all the taxable property in
was
ness
1944, $22,000 water bonds Nos. 19
ministrative costs have fluctuated,
through 40. Dated May 30, 1938.
a survey of the
city's records in¬
Portland, Ore.
dicates. :r : ;\k
; '.V
inter¬
!4 of 1%.
No bid for less than par and ac¬
crued interest..' The .bonds .are
bonds stands
of
i
:
est to be,in multiples of
$883,949 in bond principal and in¬
terest on bonds issued prior to
6, 1928, and $8,330 for debt
Rate
any
of par value of the
Lakeview,
one. for $700.
follows: $3,700 in
recently ruled against the city in
a
taxpayers' suit challenging its
right to levy taxes outside of the
in cash, rather than
through
refunding,- a
total of
check for 2%
Due Nov. 1,
1950, $5,000
1951, $7,000 in 1952, and $8,000
as
reject
Principal and interest pay¬
bonds.
$1,000,
under date of
pay
June 3
on
purchase of $31,700 not to
exceed
4%
refunding founds.
Dated May 1, 1944. Denomination
White &
7.5 mill charter limitation in order
noon
Mc¬
receive
for the
Payment
Denied—The
F.
will
Auditor,
to
get, eliminating the need of pay¬
ing out the new tax funds for the
able at the City Treasurer's office.
preceding year's obligations;
Legality approved by Teal, WinButler, Pa.
free, MtCulloch, Shuler & Kelley,
of Portland.
Enclose a certified
City's Debt Shows Steady De¬
bids.
Ohio
Boston,
Judicial District Court of Appeals
to
1953.
1944 to
Offering—James
bonds bid
Taxes
1,
$250 Dec.
Akron, Ohio
From
In¬
Dated Dec.
Denomination $250.
1, 1943.
W. E. Easter-
nection with the sale of the $33,-
For
pur¬
by the "City Treasury
chased
N. C.
ling, Secretary Local Government
Commission, submits the follow¬
ing list of other bidder in con¬
Provision
recently
was
Dr.
Harold
pointed
F.
Municipal
Alderfer
Ap¬
Director—Dr.
Harold F. Alderfer has been
ap-
Monday, May 22, 1944
CHRONICLE
THE COMMERCIAL & FINANCIAL
2134
*
pointed Director of the Bureau of
equipment had a listed book value
Municipal Affairs of the Depart¬
of
ment
of
Internal Affairs to
caused by
vacancy
fill
a
Philadelphia has been "vastly im¬
proved," the summary observes,
and in this connection notes that
one
standard credit service re¬
tary Livengood has announced.
Dr.
Alderfer,
municipal
on
born
noted authority
a
government,
City of
The credit rating of the
death, Secre¬
was
Feb.
1, 1903, at Souderton, cently raised rating on the city's
Pa. He graduated from the Sou¬ bonds from BAA to A. The* larg¬
derton High School in 1918, Bluff- est single factor responsible for
ton College, Ohio, in 1922, and was the improvement was the enact¬
Superintendent of Schools in Ma¬ ment of various measures which
He
.
Political
Secretary
of
Professor
is
Executive
and
Science
Govern¬
of the Institute of Local
Pennsylvania State Col¬
at
ment
lege; Secretary of the Association
of Boroughs; Director of Publica¬
tions of the League of Cities of
the Third
Class; editor of the
decided to take "drastic measures"
ure,
monthly magazine of the Pennsyl¬
Police Chiefs Association;
Magazine
Commissioners
and the County Com¬
Municipal
of
Director
As
to
Af¬
,
.bis work in the department throws
him in constant and active con¬
his more recent
connection with
of
Some
tact.
it possible
liquidate
the
accumulated
floating debt, pay sums owing to
sinking funds, and help balance
the
1939
budget.
It was then
necessary for the city to obtain
owned gas works made
missioner magazine.
fairs, he will carry on his previous
connections with the local goveernment associations, with which
municipal
post-war
on
charac-
planning of a nation-wide
ter.
.
Philadelphia, Pa.
School District Debt
History Analyzed—
The Citizens Committee on the
City And
Philadelphia Debt Structure
just released a summary of
analyses made of the financial
erations and debt trends of
additional
some
of revenue
source
in order to balance revenues
and
expenditures in the future.
City
Accordingly, the
work has been in
studies
the $41,000,000 derived by the
city from the sale of future rev¬
enues
from the municipally-
Township
the
While ad¬
to correct the situation.
mittedly only a "stop-gap" meas¬
vania
of
budget
balanced
a
prevailed in preceding years back
to 1929, during which period the
"city accumulated a floating debt
of staggering proportions."
With
the year-end deficit at the end of
1938 amounting to more than $32,500,000, which included arrears on
sinking fund payments, the city
in 1928.
Government
in
the city
yearly since 1940. This is in sharp
contrast with the situation which
awarded his Ph.D.
was
maintain
to
Wisconsin, the University of Penn¬
sylvania and Syracuse University,
where he
made it possible for
has
rion, S. D.,.from 1922 to 1925.
Dr. Alderfer has attended grad¬
uate schools of the University of
in
1940
levied
the
tax
of
(since reduced
to
1%),
which provided "the solution to
the
city's
financial
problems."
li/2%
the loss of $4,200,000 in
from the gas works, the
revenues obtained from the wage
Despite
revenues
op¬
the city to take care
of its current
obligations promptly, maintain its
City and County of Philadelphia
and the Philadelphia School Dis¬
sinking funds adequately and end
each year, since 1940, with a sur¬
Ir''
'
respectively,
during
the plus," '
The city has greatly reduced
years
1920-1943. The summary
both its gross and net debt burden
was
prepared by Caspar W. B,
Townsend, Esq., and reviews some during the past decade, with the
of the highlights adduced by the result that the sum required from
trict,
separate analytical studies, copies
of which may be obtained upon
application
Pennsylvania
to the
League,
South
Broad St., Philadelphia 9.
The
study pertaining to the city and
county government was prepared
by the League, and that covering
the
district
school
123
compiled
was
the re¬
funding bonds issued under the
"plans of 1941 and 1942," the op¬
erations of the appropriate sink¬
ing funds "should be largely auto¬
matic," since the city has the "op¬
tion of calling the bonds without
being required to call the entire
issue
the entire series
or
ma¬
or
turity within such issue."
As for future borrowing oper¬
the
ations,
summary
the decision by
No.
Pleas
County
Court of Common
of
Philadelphia
7
Feb. 25 last holding
outstanding Frankfort
York and other neighboring States
and
ket
district
limiting the mar¬
obtained
price
in the
the
by
of its obliga¬
sale
tions.
The
for this tax limita¬
reason
tion is found in
decision of the
a
Court,
Supreme
Pennsylvania
which held that the Board of Pub¬
Education
appoin¬
tive rather than an elected body,
cannot be given the power of un¬
limited taxation."
(Wilson, et ux
lic
vs.
School
"being
District
an
of
debtedness since
sence
due to ab¬
1933
of borrowing
capacity. Dur¬
As
a
Philadel¬
consequence,
of bonds were refunded
in advance of their callable date,
000,000
with the
stantially
the
bonds to bear sub¬
new
lower
call
interest
of
dates
the
rates
out¬
standing bonds for which they
were
exchanged. Another factor
mentioned
in
the1 summary as
benefiting the city's credit and
debt position is the recent adop¬
tion of the practice
of issuing
sinking fund balances.
In that event, "an element in
city's financial policy which
has been the cause of much dis¬
result that "an obstacle which has
cussion and considerable litigation
as a
deterrent in the
the
may
ultimately become unimpor¬
sale" of Philadelphia School Dis¬
trict bonds would be immediately
tant."
removed.
far
*3 »
The survey
more
further
says
conservative
that "A
policy has
The district's gross bonded debt prevailed in management of -the
declined
from
$80,511,000 to
end
of
last
year
1943.
Oct.
31,
the
Net
was
1939
debt
at
at Dec.
sinking
present
31
$37,112,000 and on
1943, school
plant
fund since 1940."
The
Sinking Fund Commis¬
sioners, it is noted, "have placed a
realistic valuation on sinking fund
of
'the
peak
$53,772,500
services
city1 depart¬
are
in the Fall.
of these bonds or
enactment of legislation (similar
to that granted
other Pennsyl¬
vania
communities)
permitting
use of this asset as a credit against
Liquidation
.-V;
$9,000,000,"
.Ov-,'.v4,
the
summary
Pa. '
city has also taken neces¬
The
action to make the outstand¬
sewer
debt self-supporting
and exempt from the general debt
limit. To this end, the City Coun¬
cil recently enacted a sewer rental
ordinance to raise $6,000,000 an¬
sary
ing
will
be
issue
received
of
any
above rates of interest but no
terable
the
bid
principal only. Pay¬
to
as
the
term
accumulation
the
and
debt
mates
of
tures "
■
-
revenues
-■
'
and
expendi¬
------
.
Noting that the city has made
"rapid strides in the 1940s toward
putting
its financial
house in
taxes, except succes¬
inheritance taxes, now or
hereafter levied or assessed there¬
present or future
law of the Commonwealth, all of
which taxes the Borough assumes
under
any
The bonds -will
and agrees to pay.
be sold to the
highest responsible
bidder, provided such bid is not
less than par and accrued interest.
The
highest responsible bidder
shall be the one who, having com¬
.
the whole amount
to take
at the lowest interest
municipality, which
shall be determined by deducting
cost
the
to
and earnings,
which
valuation
has
of
a
class
or
these
cludes
election of
character which in¬
bonds,
will,
at the
the purchaser, relieve
purchaser from his obligations
of
of the contract
sale and entitle the purchaser
to
the
under
the
terms
return of
livered
to
purchaser only if
proceedings author¬
the
and after the
the issuance thereof have
approved by the Department
of Internal Affairs. Enclose a cer¬
tified check for 2% of the face
amount of the bonds, payable to
izing
been
been
control
work, but the preparation
of plans for these jobs will re¬
quire some time, and council is
now likely to
include a tentative
the river.
The
of the repairs to
the
Spruce
Street,
Scranton Street
and Nay Aug Park bridges is de¬
finitely known, the total running
about
work
will
$56,000, while the additional
on South-Washington Ave.
cost
$3,633 under a contract
The council-
awarded last week.
bond
these
items, plus the flood control jobs.
men
issue
/intend to limit
appropriations
the
Nauman
last
Controller
to
week
informed the city legislators that
t
-
Roberts,
Offering—L4 J.
Bond
President Board of Trustees,
for
1
June
on
will
until 5 p.m;
purchase of
bids
sealed
receive
the
building bonds,
Dated
1, 1944. Denomination $1,000.follows: $14,000 in
r
$160,000
1945, $15,000 in 1946 and 1947, '
$16,000 in 1948 to 1949, $17,000 in
1950 and 1951, $18,000 in 1952 and
Portsmouth, R. I.
Sale
Note
—
s
,
1953, and $14,000 in 1954. Bidders
to name the rate of interest. The
printed bonds
District will furnish
and the
v
opinion of the AttorneyAny other opinion, if
General.
;
desired, shall be at the expense of
the
bids
All
bidder.
sidered
to
be
con¬
the basis of the lowest
on
interest
cost, and no bid for less
and accrued interest will
be considered. Enclose a certified
than par
check
for
2%
Ector
?
of bid, payable to
the District.
«•
.
County (P. O. Odessa), "
Texas
A.•*;;■;/
Call
Bond
—
A.
H.
Dennison^
County Judge, reports that 234%'*
park bonds, Nos. 21 to 75, aggregating $55,000, dated June
15,
1939, in denomination of $1,000
each, being all the bonds out¬
standing of an original issue of
$75,000, maturing serially to June
15, 1954, optional June 15, 1944, ;
are
called for payment on June
f
*
1944, on which date interest
at par and accrued inter-* 5
est, at the First National Bank of
15,
ceases,
Odessa.
s
-
Harlingen, Texas
r
Bond Sale—An issue of
$61,000
234% refunding Series 1944 bonds
was
purchased recently by the
Ranson-Davidson Co., of Wichita.
Dated April 1, 1944. Issued for the
purpose of refunding not less than
a like par amount of outstanding
bonds. Legality approved by John
D. McCall, of Dallas.
.
Texas
Mrs.
Houston,
receive
on
Offering
Secretary,
bids
until
*
'
M.
—
City
sealed
June 7 for the
\
J
10
H.
will *
a.m.
purchase of the
$2,-%
j
following bonds aggregating
The $35,000 notes
pn May 12—v. 159,
2023—were awarded to Lin¬
coln R. Young & Co., of Hartford,
at 0.47% discount. Due Nov. 15,
040,000:
$500,000
drainage
bonds.
Due!
$25,000 July 1,4 1945 to 1964;
1,000,000 sanitary * sewer bonds*
Due $50,000 July 1/ 1945 to /
4-
.
only other bidder was
the First National Bank, Boston,
1944.
The
at 0.49% discount.
SOUTH
Beadle County
DAKOTA
(P. O. Huron),
Bond
Refunding
—
Headlining
.
.
1964.,
.■
340,000 permanent street paving
bonds. Due $17,000 July
1,
1945,to 1964.
Proposal
discussions
'
>
.
200,000 bituminous topping street
bonds. Due $20,000 July
1,
1945 to 1954.
S. Dak.
Pushed
cost
V:'"
■
Borger Independent School Dist.,'
Texas
?v'"'4
Westerman,
ISLAND
RHODE
meeting tomorrow.
have
TEXAS
'
Bond
p.
fathers
basis of about 1.975%. Dated Jan.
1, 1944. Denomination $1,000. Due
July 1, as follows: $5,000 in 1945
to 1947, $2,000 in 1948, $1,000 in
1951
to 1956,
$2,000 in 1957 to
.1959, and $3,000 in 1960.
i;
the Borough Treasurer.
offered for sale
city
-
p.
the amount de¬
posited with the bid. Issued sub¬
ject to the favorable opinion of
Townsend, Elliott & Munson, of
Philadelphia, and will
be de¬
probably be undertaken by mem¬
bers of council at their weekly
The
V-
.
Due June 1, as
Washington Ave. from. Elm St. to
the Murray Corporation plant will
awaiting the receipt of final esti¬
mates from City Engineer George
H. Wilson on the cost of the flood
' V
2023—were awarded to the
Equitable
Securities
Corp.,
as
21As, paying a price of 101.77, a
159,
June
the
.
1
for
or
.
of deficits due to unrealistic esti¬
'
Sale—The $32,000 water
offered
tax or
use
.
' '=
•'
a
■
refunding, Series A bonds,
sale on May 15—v.
revenue
any
of the issue
approve
'
'<•
sion
offers
must
V j,.->
>
for
combining two 'different, rates of
interest will be accepted. Regis-
sewage
voters
■ ■
■■' j"-'.
TENNESSEE
Bond
;
will
at
Bids
the; entire
debt and the
$42,000,000 post-war
disposal project. To be¬
come
effective,
the
ordinance
must be tested in the courts and
•
.a
May 15, 1944.
De$1,000. Due May 15,
7':,y,v:'
,
Bond Offering—James B. Acton,
on
declares.
Dated
Ripley, Tenn.
Wilson,
outstanding debt, would give the! able/from unlimited ad valorem
city and "unencumbered general taxes, and without deduction for
borrowing capacity at the present
time amounting to slightly more
National
Falls, as Is, at
Bank, all of Sioux
par. -
\
;
and the-
Security
Northwest
nomination
^/;■!!
.2023—were
Surety
p.
Western
the
to
Co., Union Savings Bank,
essential
if
159,
15—v.
awarded
will have
city 1945.
not to be interrupted
money
restored
be
to
this
and
ments
1954.
debt.
net
distinquished from
term obligations.
Continuance of
this policy, it is; said, will ulti¬
figure in the bond issue to cover
mately
occasion elimination of the expense of the projects along
serial bonds, as
phia, 328 Pa. 225 (1937).) How¬
ever, the summary says, a statute
could probably be amended so as
to provide for payment of debt
from unlimited taxes, with the
always acted
of '-several
accounts
chase-
May
The bonds will have to be sold
early in the Fall, at the latest,
since council has already "bor¬
rowed" $59,000 from 1944 budget
•;
-
.
after
.
'
-
receive
p.m.
(EWT)
on June 5 for the purchase of $12,served to lower the excess debt
000 %, 1, 134, IVz, 1%, 2, 21/4 or
over
borrowing capacity to ap¬
2%%
coupon
fire
apparatus
proximately $1,500,000. However,
bonds.
;.V":;
the sinking funds hold about $10,500,000 par value of United States ; Dated June 1, 1944. Denomina¬
Government bonds which, under tion $1,000. Due June 1, as follows:
an
earlier decision of the Penn¬ $1,000 in 1945 to 1947, $2,000 in
sylvania ^Supreme Court, are not 1948* $1,000 in 1949 to 1951, $2,000
in 1952, and $1,000 in 1953 and
a proper deduction in arriving at
the gross
ations and debt structures of the municipal debt, which reached a order," the summary adds: "May
respective units and also refers to peak of more than $571,000,000 in it continue to follow this course."
future
prospects.
Though
ac¬ 1934, had ddtlined to slightly more
Scrantan, Pa.
v/A;
knowledging that the credit of the than $476,500,000 at the close of
Bond
Issue
Ordinance Under
school district has shown marked 1943. Net debt is now about $337,Consideration—The following re¬
improvement during recent years, 500,000 and contrasts with the
the summary points to one bad record high level of $445,410,000 port is taken from the Scranton
feature with respect to its bonds, which obtained at the end of 1932. "Times" of May 4:
which "could possibly be cured by
The
Preparation of a bond issue or¬
city's debt position was
legislative action."
greatly enhanced as a result of the dinance to finance the cost of re¬
This is the fact, that they are refunding programs carried out in pairing three city bridges, flood
payable from a limited tax levy, 1941 and 1942 by the Drexel-Leh- control projects on the Lacka¬
thus making them ineligible for man banking group. As a result wanna River and extra work in¬
investment
by trustees in New of these operations, about $183,- cidental to the paving of South
and trends in the financial oper¬
otherwise
to
•'
■..
selfBorough Secretary,
sustaining and deductible in de¬
sealed bids until 8
termining borrowing capacity has
Elevated Railway bonds are
down
$125,000, if pos-
sible.
erans'
of from the total amount of interest
borrowed funds for completion of to be paid
on
account of such
the
municipal
sewage
dispqsal bonds during the life thereof, the
hmount of premium offered, if
system.'
*
In concluding its review of the any,
over
and above the face
current revenues for debt service city's finances, the summary ad¬ amount of the issue. The, enact¬
has
been
sharply lowered, the monishes that current period of ment, at any time prior to the
"full employment and high wages delivery of the bonds, of Federal
summary reveals, One of the prin¬
and legislation which in terms by the
cipal reasons for tne decline in will not last forever
funded debt is the fact that the urges that the city profit by its repeal or omission of exemptions
city has not been able to incur past
experiences
and
guard or otherwise, subjects to a Federal
any further general obligation in¬
against the heavy burden of long- income tax the interest on bonds
by the Bureau of Municipal Re¬ ing that period, however, some
search of Philadelphia.
^
" debt Was retired and substantial
The
summary
draws a vivid payments made to the sinking
word picture of the developments funds to meet future maturities.
and
issue
bond
of about
total
a
on
the
that
that
states
the
hold
to
|
$30,000 Vet¬
hospital real estate pur¬
bonds offered for. sale oh
Sale —The
Bond
councilmen are anx-
33, but the
has tax, coupled with real estate taxes nually to meet operating costs and
and other income, "has enabled debt service
charges on existing plied with the conditions of sale,
the
the
Economy
With regard to
D.
Sioux Falls, S.
borrowing leeway-is $241,158.-;
the
•"
than
Council
wage
been modified when occasion de¬
manded."
approximately $130,000,000.
Dated
'
'
July 1, 1944. Denom. $1,-
000. Bidders-to
interest in
name-the rate of
'
multiples of 34 of 1%.
No split bids. Bids must be for.
fund
$450,000 in county school all or none. The City will not
fund loan bonds will be carried offer for sale any additional gen¬
eral obligation bonds for at least
out, it was reported by County
and interest' "
Auditor Howard T. Shober. Deci¬ 60 days. Principal
sion to advertise for bids on the (J-J) payable at the Chase Na-i
refunding project was made after tional Bank, New York. The City
the board had rejected an offer has no provisions for registering
by a Minneapolis firm to refund principal and interest but will
the bonds at an interest rate of pay for the- printing of the bonds
1 34 %■•
The present bond rate is and attorneys' opinions. All bond
records have been approved by
2%.
the recent County Com¬
mission session, a proposal to re¬
during
Volume
2135
& FINANCIAL CHRONICLE
THE COMMERCIAL
Number 4283
159
of
which
were
announced
on added, "would defeat the purpose
Texas dealer, in a recent commu¬ which was upholding a govern¬
•Reed, Hoyt & Washburn, of New
of the Government in owning and
May 1.
nication, as "legally inevitable.". ment of law^. These are the sort
York, and the Attorney-General
The
3
capital improvements, leasing it.
However, in the recent Jeffer-r of things that most of us feel
of the State. Bids not in strict con-?
"We can only say that our Con¬
which it is planned to make with¬
son
County decision, .- the court can - and should be said about
formity with, the notice of sale'
in five years after the end of the stitutional system as judicially in¬
Texas institutions."
will not be considered. The bonds clearly, restricted the application
from
the
beginning
war,
range
from
sewers , and terpreted
of
its - ruling
in the Cochran
are issued under authority of City*
Lynn County (P. O. Tahoka),
streets to airports.
From one-half leaves no room for the localities to
-;
Texas
Charter, Article 4, Section 1. The County case to bonds specifically
to two-thirds of the projects are impose either compensatory or re¬
Charter of the City requires the authorized and issued pursuant to
Bend Call—Leis Daniel, County classed as new construction, while taliatory taxation on Gvernment
levy
of
an »annual
continuing the provisions of the above-men¬ Treasurer, reports that the County the balance
represents deferred property interests. Their remedy
Sinking Fund to pay bonds at tioned statutes. It makes clear its has exercised the option granted maintenance.
lies in petition to the Federal Con¬
maturity, and interest." Delivery intention not to countenance any
by
Article
720, Revised Civil
Eight large cities, all with more gress.
attempts of local units to employ
of
bonds
within .approximately
"We can discern little theoreti¬
Statutes of the State, 1925, to re¬ than 500,000 population, account
35 days after sale. The City agrees that decision as a vehicle to call
deem on, June 15, on which date for half of the total work contem¬
cal difference, and no practical
bonds
that should the
Federal Income and redeem outstanding
interest ceases, 5%
court house plated. . New York City with 500 difference at all, between what
do
not
definitely
come
Tax status of these bonds change which
and jail refunding bonds, aggre¬ projects, estimated to cost $1,069,- was done and what would be done
: w'
after the opening of the bids and within its provisions.
if the machinery were taxed in
Of particular significance in the gating $18,000 being all the bonds 000,000, and Chicago, which plans
before the date of delivery,, the
We hold that the sub¬
outstanding of an original issue to spend more than $1,000,000,000, form
successful bidder may withdraw instant case is the language em¬
of $45,000 dated Sept. 1, 1923, ma¬ are far in the lead.
The other stance of this procedure is to lay
his bid and recover his good faith ployed by the court in denying
(percentage of
turing
serially
to
1953. These large cities and proposed outlays an ad valorem
check, upon making written re- the> county's application to < call
►bonds shall be presented on said are: Detroit, $255,000,000; Phila¬ value) property tax on property
'
quest
to
the Mayor and City and refund the $125,000 bonds of date to the Central Hanover Bank
delphia, $300,000,000; Cleveland, owned by the United States."
Council; Enclose a certified check Road District No. 1. In its petition,
& Trust Co., New York City, for $150,000,000; Milwaukee, $72,000,for 2% of the par value of the the county referred to the pro¬
UTAH
payment, where they will be re¬ 00; St. Louis, $60,000,000; Boston
bonds," payable to Otis Massey, visions of Article 752X, Vernon's deemed at
par and accrued in¬ and Buffalo, $15,000,000 each.
University of Utah (P. O. Salt
Anno. Siv. Stats. (Acts of 1929),
Mayor. :
terest. v'..,••
In the 25,000 to 50,000 popula¬
' .V 1
Lake City), Utah
empowering counties to refund
tion group, 159 cities reported the
Jacksboro Independent Sch. Dist.i
road bonds ". v.; issued for and Sylvester Independent Sch. Dist.,
Consider Refunding—The Board
Texas
•r""-';.-.".
scheduling
of
$1,356,800,000
of of
on behalf of a political subdivision
Texas
Regents of the University is
Bond Sale—An issue of $118,work, or an average outlay of
or defined district or consolidated
Bond Sale—An issue of $37,500
considering refunding field house
000 various refunding Series 1944
$1,712,345 for each.
district in such county." ".■■*. .-v
3 and 4% refunding, Series 1944
bonds.
The association stated that to
bonds was purchased recently by
bonds was recently purchased by
In this regard the court stated
William N. Edwards & Co., of
put financial houses in order for
VERMONT
as' follows: .; •
"
/rsyr y.p -y.-; yy' R. A. Underwood & Co., of Dallas. the
Fort Worth.
Dated May 1, 1944.
postwar construction program
Dated April 10, 1944.
Issued for
Poultney, Vt.
"That
Article
does-' authorize
local governments are building up
Issued for the purpose of refund¬
the purpose of refunding not less
Bond Offering—G. W. McGrath,
reserve funds and striving to re¬
ing not less than a like par amount Commissioners' Courts to refund than a like
par amount of out¬
of
any road bonds previously issued,
duce bonded debt.
Over $103,* Town
Treasurer,
will receive
outstanding bonds.
Legality
standing bonds. Legality approved
aproved by John D. McCall of or that may be thereafter-issued,.,
000,000 in reserve funds was re¬ sealed bids until 4 p.m. on June
by John D. McCall of Dalas.
Dallas.
'
A. AH? A ■"A AA-A. by any road district. But the only
ported by 270 cities.
A "surpris¬ 1 for the purchase of $80,000 cou¬
reasonable
construction
to
be
Texas (State of)
ingly large number" of communi¬ pon refunding bonds. Dated June*
Jefferson County (P. O. Beau¬
Warrant Call—Jesse James, ties reported they expect to fi¬
placed thereon is that it was in¬
1, 1944. Denomination $1,000. Due
mont ), Texas
tended to authorize the Commis¬ State Treasurer, calls for payment nance a
large part of their proj¬ $4,000 June 1, 1945 to 1964. Bid¬
Refunding
Denied
By
State sioners' Court to issue refunding
at
face
value
general revenue ects from reserves
or
current der to name one rate of interest
Supreme Court—. V'/:/.'
I
bonds for the Road District when warrants
to
and
in a multiple of lk of 1%.
including No. taxes, the organization added.
The
The Texas Supreme Court de¬
the old bonds sought to be re¬ 644,322
(1943-44 Series), which
Reports from 513 cities regard¬ bonds will be valid general obli¬
cision of May 10, in the Jefferson
funded were then redeemable, or includes all warrants issued prior less of size showed sewers
and gations of the Town and all the
County litigation should resolve when
they could be redeemed to and including March 23, 1944. streets at the top of list of post¬ taxable property in the Town will
any tears entertained by holders with
the consent of the
owner
This call is for $6,023,586.
Gen¬ war projects. Over half put sewer be subject to the levy of unlim¬
of Texas municipal bonds regard¬
thereof. If it was intended there¬ eral revenue warrants dated prior construction first and 25 per cent ited ad valorem taxes to pay both
ing the court's attitude toward
by to alter bonds previously is¬ to Sept. 1, 1941, are now void be¬ planned major improvements on principal and interest. Principal
their fundamental rights as credr
sued and sold so as to make them cause of the State's statute of two sewage disposal plants.
Practi¬ and interest payable at the First
itors and its intention to fully
redeemable
contrary
to
their years' limitation.
Possessors of cally every city of more than National Bank of Boston. The
protect the status of their invest¬ terms as construed in the light of these warrants should make ar¬
100,000 population reported new bonds will be engraved under the
ments.
The ruling in question re¬
the statutes as they existed at the rangements with the State Rep¬ pavement construction or major supervision of and authenticated
sulted from the
refusal of the
of
their
district to traffic highways as one of the as to genuineness by the First Na¬
time the bonds were issued and resentative
State
Attorney
General to ap¬
more
sold, and without the consent of have them presented to the Gen¬ three
important
postwar tional Bank of Boston, and their
prove refunding bonds proposed the
eral Claim Committee for special
owner
thereof,
then
the
will
be
approved
by
projects, while 70 per cent of the legality
to be issued by the county and
statute would be void as ^impair¬ appropriation of the next session cities of 25,000 to 50,000 popula¬
Storey, Thorndike, Palmer &
Road District No. 1 in order to
of the State Legislature. Out-of- tion
Dodge, of Boston. Delivery will
ing the obligation of an existing
designated streets as an im¬
redeem, in advance of stated ma¬ contract.
See Article I, Section State holders of such warrants are mediate
postwar * construction be made on or about June 15,
turity dates,- certain outstanding
requested to notify the State problem.
1944, at the First National Bank
16, of the Constitution.
obligations.
Other than
of Boston, against payment in Bos¬
We think the only purpose of Treasurer's office.
Needed public buildings, includ¬
The county move was taken in
this Act was to make it clear that general
revenue
warrants,
all ing city halls, police and fire sta¬ ton funds. No bid for less than
light of the court's earlier ruling the Commissioners' Court was the •State warrants are cashable when
tions, schools, hospitals and mu¬ par and accrued interest will be
in the famed Cochran County case
issued and should be presented
proper, authority to issue the re¬
nicipal garages, are planned by considered,
,
'
..
...
,
•
•
•
•
1
.
•
'
.
contention
and
the
basis
of
its
that
the
bonds
in
question were
funding bonds for the Road Disitrct where the bonds sought to
redemption be refunded were otherwise re¬
prompted, widespread interest in deemable."
v ;
'ri
the outcome of the proceedings.
i Dealer Comments On Ruling
The Attorney General had re¬
Apropos to the court's decision
jected the applications "on the
in the Jefferson County proceed¬
ground that the outstanding bonds
to be refunded are now owned by ings, H. H. Dewar of Dewar, Rob¬
third parties and are not redeem¬ ertson & Pancoast of San Antonio,
a
letter
addressed
to
the
able, at this- time."
The State's in
subject
optional
to
immediately for payment. Prompt between 50 and 60 per cent of the
presentation for payment of these reporting cities.
warrants will be greatly appre¬
Tax By States on Federal Prop¬
ciated by the State Treasurer's of¬
erty Ruled Invalid—In a decision
fice.
vvfA;''-^A^A-}"AAA".:A-'-
,
.
"Chronicle", under date of May 11
highest court upheld the Attorney
General and disposed of all four
'.
said:
"We
enclosing a copy of the
Supreme Court of
Alexander.
just
:.
.
/
.
v.
The effect of the
.
/
1944
Dated April
Dallas.
of
Co.,
for
Issued
15,
the purpose
of
refunding not less than a like par
amount of outstanding bonds. Le¬
Texas,,opinion
in the test gality approved by John D. Mc¬
cases
Call of Dallas.
sion that has
of the unfortunate
Cochran
ject to prior redemption after 5 but legally inevitable
County decision were not as far
or 10 years from date of issuance,
as
some
prophets of
regardless of whether or not the reaching
issuer had specifically reserved doom would have had us believe.
tain
municipals were sub¬
Texas
consequences
right to prior redemption at The harm to Texas credit came
sale. The more from these forebodings than
county contended that such, option from the effect of the decision it¬
the
the time of issuance and
provided for in the case of self, and even the consequences of
pursuant to Chapter this could have been greatly miti¬
18 of Revised Statutes gated by a realistic attitude in
ri
of 1911 (Article 611), which was the beginning.
"We are still, we hope, a gov¬
subsequently brought forward as
was
bonds issued
1
of Title
'
Article 720 of Chapter 2,
ernment of laws and not of men.
in the
Title 22,
recodification of 1925.
In
favor of
Bondholders, of all people, should
believe thoroughly in this doc¬
trine.
It usually works for theit
ruling in
Cochran
County, the court held that the
optional provision contained in
the statutes was "read' into and
part of the contract." In
effect the court maintained that
made
the
a
bondholder- is
charged
with
knowledge of the law and is sub¬
ject to Its provisions, even though
the bond issue itself was wholly
devoid of
cation
evidence or indi¬
the securities were
any
that
subject to prior redemption. The
decision was referred to by one
May 29, for 2-5% refunding bonds,
dated Dec. 1, 1937. Funds in the
which
had
carelessly not
Bond
tion
$200,000
On the contrary,
Supreme
it should
give them confidence in a Court
Court?
recently
water
works
revenue
Thse 7-2 decision
upset
a
Penn¬
sylvania Supreme Court edict up¬
holding that State's authority to
impose a levy on machinery val¬
$618,000 at the Mesta Ma¬
chine Co., West Homestead, Pa.
In an appeal to the high court, the
Government and Mesta
tax violated
that the
immunity
tutional
contended
the Consti¬
of
Federal
property from local and State tax¬
ation.-/
The
tax
levied
was
The
decision
by
Alle¬
Many
Cities
for
Planning
Postwar Projects—Postwar
projects involving an estimated
outlay of $4,500,000,000
are
planned
by
towns
350
of
American
more
Jackson.
separate dis¬
Justice Jacksosn held that
wrote
purposes
of taxation, title to
machinery was vested in the
Government.
He ruled as erro¬
the
States
Already
delivered by
Jus¬
tices Owen J. Roberts and Felix
sents.
United
was
Justice Robert H.
Frankfurter
UNITED STATES
and
Texas
Held—An elec¬
to vote
held
bonds.
that bondholders should lose con¬
the
Election
was
Large
in
assessing property
against Federally owned
machinery and equipment. ,
"Times-Herald" of May 5:
Based
on
an
estimated popula¬
tion of 60,000 persons,
the net per
bonded debt in Newport
News Jan. 1 this year was $31.21/,,
aside from utilities bonded in¬
capita
Including
debtedness.
the
per
.
capita
debt
the
latter
would
be
$77.03.
The
per
debtedness
capita net bonded in¬
in the city as of Jan.
1, 1944, based on the 1944 census
figure, population of 37,067, was
$50.62 and with waterworks or
utilities bonds included the figure
This improved showing
capita debt structure of
the city is computed from figures
available at the office of Samuel
was
$125.
in the per
available for the purchase
brought before the Court for
interpretation (in the days when
an
adjudication of the question
would not hurt).
Does this mean
fidence
barred by the Con¬
part as follows from a lengthy
in
the
Newport
News
article
gheny County, Pa., revenue offi¬
approximately $5,000.00 cials on grounds that the impost P. Hoyle, city auditor.
of technically was upon Mesta be¬
The comparison is prompted by
Bonds, and only tenders of less cause, they contended, title to the an article on "Debt Srtucture of
than par and accrued interest will machinery was vested in the com¬
Virginia Cities," in a recent Uni¬
iae considered.
pany at the time the tax—$5,137— versity of Virginia News Letter,
The District will accept the low¬ was
imposed.
Common
Pleas by Edward H. Ruehl, field con¬
est offers made starting with the Court of Allegheny County ruled
sultant, league of Virginia muni¬
lowest priced bonds, until funds the act unconstitutional and the
cipalities.
; /
on hand are exhausted.
State
Supreme Court then re¬
The figures in the auditor's of¬
versed.
fice show other indications of im¬
Winters, Texas
are
protection. In the Cochran case it
against them because of
the
unfortunate existence
of a
been
stitution
in
amount of
worked
statute
are
from
that States
ued at
of the apprehen¬
Ward County Water Improvement
prevailed in invest¬ The tone and 'clarity of this deci¬ District No. 2 (P. O. Grand falls),
sion should set at rest the, fears
ment and some legal quarters as
Texas
to the scope and possible appli¬ that have been expressed in some 'j
Bond Tenders Invited — It is
as
to the attitude of stated by Wm. O. Walker, District
cation of the court's decision in quarters
the Cochran County case.
In this Texas' highest court to bondhold¬ Secretary, that he will receive
instance, the court held that cer¬ ers. As we have said, before, the sealed tenders until 2 p.m. on
eliminate much
May 1
on
recently by R. A. Underwood & taxes
down
handed
relating to the callability of
certain Jefferson. County Bonds.
decision is to
water works refunding Se¬
bonds was purchased
2%%
ries
affecting billions of dollars worth
of Government war property, the
$15,000 Supreme Court ruled
Bond Sale—An issue of
1944.
^
-v y
are
applications in a single decision,
written by Chief Justice James P.
Texas
Vega,
VIRGINIA
Newport News, Va.
Net Per Capita Bonded Debt
Shows Marked Decline—We quote
than
cities
10,000
neous a
contention that the whole
value
of
taxed
because
the
property could
the levy was
be
on
debt in 1930
to $127 in
1942 and to $125 in 1943, these
citations
being compiled under
U. S. census population figures'as
stance, the per capita
was
$174,
of 1940.
declining
Further indication of the
improvement may be gained by a
comparison with average per cap¬
ita
bonded
indebtedness in all
Virginia cities, which was $130 in,*-
Mesta.
"Coercion
provement in the city's per capita
bonded
indebtedness.
For
in¬
of
payment
from
population, according to a survey
made by the International City
compelling
the Government to
move
its property and interrupt
Managers' Association, the results
production at the Mesta plant," he
1942.
a string of figures
meaningless in that
they do not wade through them.
To
laymen
usually
are
THE COMMERCIAL & FINANCIAL CHRONICLE
2136
The next
1959.
in
$30,000
and
FINANCIAL NOTICE
highest bidder was Vance, Young
& Hardin, of Winston-Salem, at
CITY
MONTREAL
OF
for $227,000 as 2s and $173,as l34s.
The only other bid¬
was Blair & Co., Inc., for 2s,
par,
000
Notice
of
Payment
Interest
of
der
Coupons
Notice
at
is
hereby
given that
provisions of Para¬
graph 11 of Article 4 of By-law
No. 1735 (By-law providing for the
financial
reorganization
of the
City of Montreal)
the City of
the
under
Montreal intends to and will pay
presentation as they sever¬
ally become due the interest cou¬
pons
maturing on and between
May 15th 1944 and October 15th
upon
the bonds
annexed
and
inclusive
1944
debentures
and
to
interest
only from the last inter¬
payment date preceding Oc¬
est
16th
tober
Director
V
of
Finance
Principal and
(Jan. 1 and
Virginia or, at
option of the holder, at the
National City Bank in New York
Coupon bonds in $1,000.00
City.
convertible
denomination
registered bonds.
:
bonded
the
of
Jan.
indebtedness
here
as
this plan the expenses
provided
are
and
in
Milwaukee's
Perhaps
is
ment
each
and
has
been
building
up
Amortization
interest, no premium, if called on
or after July 1, 1957.
for the
used
bonds
these
of
proceeds
be
of
purpose
serially through July 1,
The original amount of the
now- being
refunded was
due
and
1964.
issue
$350,000, for a to¬
tal of $2,749,000, giving a net debt,
including utilities bonds, of $4,622,050.53." This makes the gross
debt $66,035,000.
article
The
-
News
Letter
capita
the
in
the
1942
>
Part
of
the
1934
stabilization
deficit
1937
1938-i
1939—
an
when
interest
the
•
bonds
_
1943—
The
amount
zation fund
as
ceased
Feb.
March
(P. O. Purcellville),
make
ensuing
Under
the
start
tax
free status
a
a
much
his
owner
taxes
plan accordingly
can
and business
men
will know their
liability and can set aside the
currently. In this
the city will solicit the
cooperation of the School Board,
proper reserves
program
Vocational
School
and
Sewerage
Commission, all of which have in¬
dependent powers. It is proposed
also
as
that information be obtained
to the financial program
of the
county for the period which will
give an overall picture of the tax
liability for local governmental
functions.
The cooperation
and
of taxpayer groups also
will be sought.
Our own experience in placing
support
this
our
financial
in
house
order
prompts the suggestion that to at¬
tain
the
waukee
of
available
amount
how
know
will be and
as the levy for debt pur¬
decreased annually, the levy
permanent improvement
was
correspondingly
in¬
approach
total
appropriation; the home
will
the
the
is being formulated,
year
financial officers will know at the
for
quired for sinking fund purposes,
permanent improve¬
financed.
are
When the budget for the
obvious.
out of which
are
advantages of this plan
debt
which Mil¬
striving govern¬
for
goal
is
now
mental units should:
committee has been
,
Commission was
30's. The isof May 15, 1944
date
bears
sue
k
k:
and is divided as follows:
1
$1,050,000 3s, due $525,000 on May;
15 in 1948 and 1343;
*
2,625,000 3Y4S, maturing,$525,000
annually
on
May 15 from
'
.
1950 to 1954 incl.;
\
•
!s
2,725,000 3V2s, maturing May 15
as
follows: $525,000 in 1955
and
$550,000 from 1956 to «v
1959
would
to
Barney &
since the Securities
Exchange
incl.;
2,750,000 3%s, due $550,000 each
year on May 15 from 1960 to
<*
1964 incl.
The debentures
the
(
holders'
United
The
When improvements
are
financed by bond issues the
total cost of the project is in¬
creased by about 50%.
The citi¬
With
States
Debentures
are
option
or
payable at
in either
^
Canadian funds.
maturing
and after
on
1950 will be callable in
whole, or in part in reverse or¬
der of maturities, on any interest
date on or after May 15, 1949 at
May 15,
initial
premium of 102 and at
decreasing premiums thereafter.
The purpose of the issue is to redeem at par on Aug. 1, next, $8,718,654
consolidated
debentures
due Feb. 1, 1967.
an
(
{;
1
*
According to the latest Domin¬
ion census statistics, Edmonton is
the ninth city in size in Canada
and
had
a
*
population in 1941 of
The City's census for 1943
shows
a
population of 105,536.
\
The City's growth in population
1
and
importance has
been pri- y,
marily the result of its proximity .
93,817.
to
natural
rich
excellent
resources
and its
transportation facilities.
S
The
City, which is the capital
of the Province of Alberta, is sit¬
uated in the heart of a rich agri-*
cultural area and is the natural
to a vast region of re¬
as
yet largely undevel¬
oped in the Upper Valley of the
Saskatchewan, the great drainage
basins of the Athabasca, Peace,
Slave and MacKenzie Rivers and
gateway
sources
Operate on a cash basis budget
long-term improve¬ which is balanced annually;
ment program and has recently
Have
a
definite
program
for
submitted a report recommend¬ meeting and eliminating the Alaska and the Yukon.
' "
ing a six-year program. After al¬ bonded debt;
; j
The airport at Edmonton con¬
Finance
lowing for a substantial tax re¬
permanent
improve¬ structed at a cost of more than
duction, due to the elimination of ments on a cash basis;
$10,000,000 is one of the largest
the tax for debt purposes, the plan
Create
and
maintain a suffi¬ and most active in Canada, and
j
proposes that the city finance the cient reserve for delinquent and
this activity emphasized that the
program on a cash basis without uncollectible taxes/
City is located on one of the best ,4
increasing
ta?:es.
Even
though / It is a long, hard pull, but Mil¬ routes for peacetime air trans¬
many projects cannot be under¬
waukee has demonstrated that it
portation to the Orient.
|
taken until after the war, funds can be done'.
'
In addition to being located on
have
been
regularly
appropri¬
the main transcontinental line of
Sparta, Wis.
ated, so that there is now avail¬
the Canadian National Railway it
Bond Sale—The $70,000 drain¬
able over $7,000,000 for perma¬
is served by the Canadian Pacific
;
nent improvement,
In addition, age and improvement bonds of¬
Railway, Canada's other transom-* J
the program calls for an appro¬ fered for sale on May 17 were
tinental line. It is also served by
priation of $3,800,000 for each of awarded to Paine, Webber, Jack¬
several branches of the Northern f
son & Curtis, and Daniel F. Rice
the next six years.
Alberta Railway one of which ex¬
Another step taken has been to & Co., both of Chicago as IV2S,
tends to Dawson Creek, the start|
build up a sufficient reserve to paying a price of 101.00, a basis
ing point of the Alaska Highway,
take
care
of
delinquent
taxes of about 1.231%. Dated July 1,
The Alaska Highway, which ex¬
which may become uncollectible. 1944. Denom. $1,000. Due $10,000
tends for a distance of approxi¬
With the bonded debt provided April 1, 1945 to 1951.
mately
1,600
miles,
was
con¬
for, a program devised for fi¬
Tomah, Wis.
structed and opened for military
nancing permanent improvements
new
road
Bond Sale
The $35,000 high traffic in 1942. The
on a cash basis and with reserves
school construction bonds offered opens great possibilities of use-c
accumulated for the delinquent
fulness not only in wartime but in
for sale on April 7—v. 159, p. 1400
tax fund, there remains the fu¬
—were awarded to
Harley, Hay- peacetime as well.
ture
financial
program
for the
son & Co., of Madison, as 2s, pay¬
The City-owned utilities which'
operation
and
maintenance
of
municipal activities. Aside from ing a price of 104.834, a basis 'of include Electric Light and Power
the variable
factor of
a
large about 1.195%. Denom. $1,000. Due Distribution System, Power Plant,.
Street
Railway, Telephone and
fluctuation in the assessed valua¬ April 1, as follows: $3,000 in 1945
Waterworks grossed $6,644,522 in
*
tion of taxable property, revenue to. 1954, and $5,000 in 1955.
1943.
After deducting operation ;
from income taxes and some ex¬
and maintenance
expenses, full treme emergency or catastrophe,
debt service charges on debt al¬
it should not be difficult to chart
located to utilities and providing;
our future financial program.
Canada (Dominion of)
The splendid financial condi¬
for renewal reserves and contin¬
Treasury Bills Sold—An issue
tion in which the City of Mil¬
of $55,000,000 treasury bills was gencies, the utilities had a bal¬
waukee is today seems the logical
sold recently at an average yield ance
of
$1,126,069 which was.
time to take the next step of sta¬
of 0.389%.
Dated May 12, 1944.
turned over to the general fund:
bilizing its tax rate for four-year Due
Aug. 11, 1944.
of the City in lieu of taxes and as
periods, the duration of each ad¬
working
on a
,
,
.
follows:
5,379.74
April
Va.
surplus
the tax stabili¬
deficiencies should they arise
in a succeeding year, or eventual¬
ly to further the reduction of
however, that the city has
making
permanent
im¬
ments
country
and
'
exceed
<
formed in the early
a
year,
taxes.
mean,
this
up
creased.
$4,305.04
3,493.90
4,691.65
Jan.
the
reserve
a
as
prevent
of
revenues
transferred to
be
accumu¬
to
end
the
estimates
the
provements.
fund
first four
the
for
months of 1944 is
:
Purcellville
_
—.
1942—
were
placed.
_
1941
the first of the year
for $350,000.
tained
—
1940
indebted¬
of 18-months
The city ob¬
exceedingly low rate of
____
fund
the
at
when the actual
of Milwaukee has not
issued
any
general
obligation
bonds since 1932,
This does not
plan,
If
■
,
Weir, Inc. This was the first publie offering
of obligations of a
Canadian municipality made in
could be transferred from the tax
The City
for
ap¬
authorized
Smith,
Co.,
&
Ripley
[ v
Co., A. E. Ames & Co., Wood,
Gundy & Co. and McLeod, Young,
procedure does not fully meet
the requirements, a sufficient sum
lating, the city, of course, met the
current payments on its bonded
poses
$31,829.29
35,850.12
32,302.65
31,916.78
33,668.56
34,081.66
35,940.60
41,109.90
75,954.99
50,085.84
—
1935—_
of the city is due to issuance
ness
bonds
—
1936
to
utilities
this
Amount
Year
net
debt
amounted
of
and Sinking
each of the
preceding 10 years i^ as follows:
here December,
$57, whereas,
based on .1940 census figures, the
net per capita deb Jan. 1 of this
year
was
$50.62, a decrease of
$6.38.
per
revenues
project for interest
Fund purposes for
University
that
shows
net
the
from
budget
be
debentures
refunding
$9,150,000
priced to yield from 3.10% to
3.9%, according to coupon rate
and date of maturity,
Associate
underwriters included Harriman,
this
hold interest: Streets
$550,000.00 dated July 1, 1939, in¬
and sewers $1,449,500; boat har¬
terest 3%.
The proceeds, of this zens of Milwaukee have been con¬
bor $307,000; other improvements
issue, together with accumulated vinced for a long time that this
$468,000; schools $1,061,500, mak¬ Sinking Funds will retire the en¬ is wasteful extravagance. Closely
ing a total of $3,286,000. Sub¬ tire issue dated July 1, 1939. The allied with the elimination of the
tracting the sinking fund, amount¬
purpose of this refunding issue is bonded debt is the establishment
ing to $1,412,949.47, the net gen¬ to reduce the interest cost. All and operation of the permanent
eral
debt
amounted
to
$1,873,- bonds have been paid at matur¬ improvement fund. When the city
050.53.,
.'
discontinued the practice of fi¬
ity or prior thereto.
Waterworks bonds as of Jan. 1
nancing permanent improvements
Operating Statement
totaled $2,318,000; waterworks
by means of bond issues, it levied
The amount turned over to the
a tax instead, equal to the reduc¬
improvement $81,000 and water¬
State Sinking Fund Commission
works addition
tion in the amount annually re¬
1,
due to
circumstances, are less
anticipated for the year, a
revenues,
and further economies ordered.
debt.
was
Under this
revenues.
actual
propriations could
While the Public Debt
Fund
if
review of the current
a
cipal amount thereof on or after
July 1, 1955, if called prior to
June 30, 1957; par and accrued
surplus
than
city, both principal and interest.
The taxpayers of Milwaukee have
been
relieved
of
further
debt
charges.
esti¬
in a tax stabilization
such unexpended balances
plan,
Mil¬
waukee
of
excess
It is proposed to set aside
unforeseen
debt
For twenty years
and
year
fund
greatest
the attainment of a
estimates
revenues
in
revenues
mates.
achievement in financial manage¬
;;
...
for
the total of the annual budget.
free status.
paying off and cancelling bonds of
like amount dated July 1, 1939,
obtained
from the auditor's office showing
operates on a sobudget. Under
basis
cash
prior to June 30, 1952; 2% of the
principal amount thereof on or
after July 1, 1952, if called prior
to June 30, 1955; 1% of the prin¬
Tf?e
figures
are
Milwaukee
anticipated
through the exercise of constant
budget control, the close of each
year finds the city, after having
provided reserves for unpaid ob¬
ligations, with a surplus of unen¬
cumbered
budget appropriations
viewed in this article.
into
a
these
of
callable at any sinking fund called the "Public
interest date at par and accrued Debt Amortization Fund," which
interest, plus a premium of 3% of is a story in itself. This fund is
the principal amount thereof on now large enough to assume the
or
after July
1, 1949, if called outstanding bonded debt of the
will
But
sound and conservative
fi¬
careful
These bonds are
ROBERGE
L.
—
interest
the State of West
replaced.
MONTREAL, May 10, 1944.
of
result
the
planning and management
extending over a period of thirty
years.
The major steps are re¬
called
the
of the old bonds
1944
and debentures to be
are
nancial
of the city
advance of
The
anticipated
July 1), payable in lawful money disbursement.
of the United States of America revenues (other than taxes), plus
the property taxes levied, equal
at the office of the Treasurer of
Details
Other
semi-annual
of the
City and annexed municipal cor¬
porations maturing on or after
May 15th 1944.
;
,
Accordingly, th§ securities to be
given in exchange by the City
under the said By-law will bear
price of 100.425.
a
but
Monday, May 22, 1944
.
Bond Offering—Wilbur T. Frye,
Town Recorder, will receive
turned
over
for the first four months of
bids until 7 p.m. (EWT)
May 29 for the purchase of
$25,000 not to exceed 2% general
obligation
water
bonds.
Dated
May 1, 1944. Denomination $1,000
and $500. Due serially over a pe¬
riod of 16 years. Bids forms and
1943,
further
detailed
information will
be furnished by
the Town Treas¬
urer.
'
total
The
sealed
on
payable solely
special fund administered
by the State Sinking Fund Com¬
a
mission
Call—Paul
Bond
Va.
'
%
E.
Amos, Dierctor of Finance and City Treas¬
urer,
reports that water works
called
bonds Nos. 11 to 210, are
for redemption on July 1,
1944,
on
ceases.
Dated July 1, 1944. Hold¬
said bonds are notified to
revenue
ers
of
present
which
same
date
other
and
the
interest
Bond
into
revenues
are
of
use
collected
for
bridge, after de¬
therefrom
maintenance
expenses.
to be collected for the
said
bridge and payment
special fund until
made into said
all of the bonds issued shall have
been
paid or a sufficient sum of
accumulated in said fund
provide for their payment.
Legality of bonds approved by
Chapman & Cutler of Chicago.
money
to
WISCONSIN
at the place of pay¬
Virginia (State of)
$400,000 Point
Henderson
bridge rev¬
enue refunding bonds offered for
sale on May 12 were awarded to
Stabilized
Seeks
City
Wendt
Tax
Rate
—
Comptroller
William
H.
recently issued the fol¬
lowing statement:
The writer recently proposed to
Stranahan, Harris & Co., Inc., and
Ryan, Sutherland & Co., both of
Toledo, as l%s, paying a price of
the
100.401,
for
a
basis
of about
Dated July 1, 1944.
$1,000.
$23,000
1.698%.
Denomination
Due
Milwaukee
Council
plan whereby the tax ratefor
city purposes could be stabilized
a
four-year periods. The pro¬
posal has attracted such wide at¬
July 1, as follows:
in 1945, $24,000 in 1946
and 1947, $25,000 in 1948 and 1949,
$26,000 in 1950 and 1951, $27,000
in 1952 and 1953, $28,000 in 1954
tention
and 1955, $29,000 in 1956 to 1958,
proposal
that
the
plan
is outlined
herein for whatever guidance and
assistance it may be to other gov¬
ernmental units.
.
Common
.
The
events
are
—
CANADA
Milwaukee, Wis.
Sale—The
Pleasant
Virginia,
of said
use
ment named therein.
West
West
of
which shall be paid monthly tolls
Tolls
W.
%
These bonds are
from
ducting
and operating
VIRGINIA
Fairmont,
amount
$16,502.28.
„.
WEST
$17,870.33
Total
/
"
„
ministration.
The Milwaukee city
tax rate has fluctuated since
surplus.
1928
high point of $26.05 to the
current rate
of $21.26.
Careful
from
ALBERTA
Edmonton, Alta.
a
study will have to be made to de¬
a fair and equitable
'
$9,150,000 Issue Offered Here—
An ^investment
banking
group
Boston Corp.
termine what
headed by the First
tax rate should be.
and the Dominion Securities Corp.
As stated above, Milwaukee an¬
leading up to this
not of recent origin nually balances its budget. With
offered
States
publicly in the United
May 16 a new issue of
on
years
the
In each of thd past three
the amounts turned over to-
City Treasury have been
excess
of $1,000,000, a
approximately
to
sum
present
equal
prin¬
cipal and interest charges on all
of the
general debt of the City,
„•
ip
j
@FedFRASER