Newspapers / Wilmington Morning Star (Wilmington, … / July 9, 1941, edition 1 / Page 7
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Stock Mart Continues Upward Surge, New Highs For Year Recorded UVELY SESSION MARKS TRADING inflationary Rumors and War N-evvs Give Market Bul lish Incentive Bv BERNARD S. O’HARA YORK. July 8.—(£>)—Fin ■ ”1 markets again bounded up 0 llCltll ...pvv road today, many lines the retu'1 • , Melt levels for the year or hitum? 1U8‘ as inflation murmurs be t.jiteei'. <*• „ hit more pronounced and came » vs generally was interpreted war ... . ., moderately bullish. ^ ,c|;s extended Monday’s bulge "•'action5 to more than 2 points i'p'"liveliest dealings of the past ‘li t 'months- industrials were the ' v .rites although rails participated to some dost ' • 1 nireciioti was forward from , stui. overnight word of the i"0 n'fhates occuj>ation of Iceland 1 10 intimidate bidders. An '.'i'Zr'iipswing in commodities also "l"'.. . im i for speculative fires. doses liownwara While closing prices in the stock ._.ion ivere a shade under their i-Vt' tiie Associated Press average. . issues retained a net advance l’f I; 0I- a point at 42.3 on top of a „( in the preceding session. pH, composite today was at its i'Udiest mark since January 28 and compared with the 1941 peak of 45 •iitained earlier in the initial month. 1; "was also one of the broadest mirkets in months, SS6 individual ‘.^i;S appearing on the ticker tape, p! these. (154 were up, 87 down and 143 unchanged. While there wore brief intervals when the pace slowed, transfers of W7 >173 shares compared with 89G, •j,j tile day before and were the largest since November 12, last. Inflation thinking, brokers said, uas based inainlv on reports pro illlSed price-fixing legislation might meet opposition in congress. En couragement also was derived from hessian claims of having stopped tl:- Nazi thrust. in the hopeful business picture n..c General .Motors' announcement ui the best June and first six months' sales on record. Among stocks at 1941 highs were ,1 i. Case. Savage Arms. Standard oil (XJ) and Texas Corp. Prominent i, the front ranks were U. S. Steele Bethlehem. Chrysler, General Motors. Goodrich, Union Carbide, Douglas Aircraft. Du Pont, AA'est inghouse. Phelps Dodge, American Smelting. Santa Fe, X. Y. Central and Southern Railway. U. S. Rub ber was aided by denial of an ap plication by a preferred stockholder to prevent payment of a 50-cent dividend voted on the common. Pepsi-Cola. recent strong sprinter, emerged with a minus sign, as did Dow Chemical and Western Union. Up as much as 2 or so in the curb were Aluminum of America, Bell Aircraft, Gulf Oil. Creole Petro leum, United Shoe Machinery and Jones & Laughlin. Turnover here approximated 198,000 shares versus 1:1.000 yesterday. STOCK AVERAGES (Compiled by The Associated Press) 60-Stock Range Since 1927: 30 13 15 60 Indus Rails Util Stks .Vet change „ a.S a.3 a.2 a.6 Tuesdav_ 61.7 17.7 32.0 43.2 Previous dav_ 60.9 17.4 31.8 42.6 -Month ago ... 58.7 17.0 31.6 41.4 1 ear ago ____ 57.3 15.4 35.3 41.2 1941 high_ 63.9 17.9 33.5 45.0 1941 low_ 54.8 15.4 30.3 39.1 1910 high_ 74.2 20.5 40.6 52.2 1940 low _ 52.3 13.0 30.9 37.0 60-Stock Range Since 1927 1938-39 1932-37 1927-29 High __ 54.7 75.3 157.7 Low- 33.7 16.9 61.8 WHAT STOCKS IRD NEW YORK. July 8.—LPl— Tues. Mon. Advances_ 654 564 Beelines_ 87 86 ’ "changed . 145 145 Total issues _ 886 795 M.\\ i UKK SlIiAK \E\Y YORK. July 8.—tffl—The w°ijil sugar contract today rose 3 3’i points to new seasonal highs r,o buying based on trade reports tuba s world allotment market had 'ton fully sold. Sales totaled 27,600 jons. September closed at 1.12% W; March 1.18% laid. riir domestic contract closed 1 signer to 1 lower. Sales 15,600 tons. ,'?5 offerings ranged from 3.50 to "■'IP Refined prices were ‘unchanged. Domestic contract: , , High Taw Close ;'My —-. 2.54 2.53 2.53b •member ... 2.55 2.54 2.54b unitary. 2.61 2.60 2.59b \Mch. 2.63 2.62 2.62b ?y -- 2.66 2.65 2.64b Jmih CHICAGO GRAIN CHICAGO, July 8.—(A>)—All de liveries of wheat reached new high record prices since May 1940 at times today and, although final prices were shaded, the July con tract closed at a new seasonal peak and the September delivery equaled the previous record. At times July futures reached 1.07 3-8, a net gain of 2 5-8 cents, but backed down to close at 1.06 3-4 to 7-8, or 4 to 2 1-8 cents above the previous close. Wheat finished 1 3-8 to 2 1-8 cents up, September 1.08 to 1.07 7-8 and December 1.90 1-4 to 1-8. Corn advanced 3-8 to 7-8 cents, July 74 1-2, September 76 1-2, De cember 79 to 78 78 bats were 1-8 off on the current delivery to 3-4 up; soybeans rose 2 to 3 7-8 cents; rye was 5-8 to 2 1-2 up and lard gained 20 to 25 cents a hundred pounds. Price rises in the general com modity list influenced the upward trend in grains. Cotton sold at the highest levels in 11 years after gov ernment estimates indicated the smallest acrage planted to this crop since 1895. Soybeans, which are competitive with cottonseed oil, rose in sympathy almost five cents a bushel at times, while lard ad vanced 42 cents at the extreme. The Department of Agriculture announced the purchase of 9.700. 000 pounds of soybeans, packed in 100 pound bags suitable for export to Britain under the lend-lease pro gram. 1 Open High Low Close WHEAT— July-103% 107% 105% 106;s Sep-107% 10874 10774 10774 Dec -109% 10974 108% 10974 CORN— July_ 7 4 7 4 74 7 4 7 4 74 Sep_ 76% 767s 7674 767.', Dec - 78 74 7 9 74 7 8 74 7 8% OATS— July old ... 3874 39 38% 3874 July new .. 37 74, 3 8 7 4 3 7 74 3 8% Sep old_ _ 39% Spe new — 3 8 74 3 8 7s 3874 3874 Dec - 39% 4074 39% 40 SOYBEANS— July_ 15474 156 133% 155% Oct- 145 15674 144 145% Oct new ... 145 1467s 14474 14574 Dec _145% 14774 145 34674 Rl’E— July olci_ 53% 5374 53% 53% July new _. 5774 58 57% 58 Sep old_ 5574 _ _ 5574 Pep new_ 5 8 74 . 59 % 5874 59 Dec ..- 61% 617s 61% 617^ LARD— July-10.65 10.65 10.65 10.65 Sep -11.02 11.02 10.80 10.85 Oct -11.20 11.20 10.90 10.97 Dec _11.32 11.35 11.15 rr.15 BELLIES— July_ 12.75 Sep- 13.00 Oct _ 13.40 NEW YORK COTTON NEW YORK. July 8.—CP)—A bull ish acreage report interpreted as in dicating the smallest cotton harvest in 20 years heightened the nave of buying that today pushed futures to maximum gains of SI.75 a bale before profit, taking cur the advance to 55 to 95 cents a bale. The federal estimate was 23.519.000 acres and was coupled by traders with reports of insect infestation and poor growing conditions to point up fears of a short crop. Worth street was quiet, cotton goods men holding back while watch ing Washington for developments in the disagreement over price ceilings recently established on some gray goods. Mills were reported refusing quotations on goods named in the federal order. Export yesterday nil; season so far 1,029,476 bales. Port receipts 19, 909. Port stocks 3.302.490. Range follows: Open High Low Close July — 14.98 15.24 14.98 15.05nTTp 11 Oct — 15.20 15.45 15.19 15.27 Up 15 Dec — 15.32 13.56 15.32 15.37 Up 15 Jan „ 15.34 15.55 15.34 15.3SnUp 18 Mch __ 15.41 15.64 15.41 15.46 Up 17 May .. 15.41 15.62 15.40 15.46 Up 19 n—Nominal. Spot nominal: middling 15.92. STOCKS IN THE SPOTLIGHT NEW YORK, July 8.—CP)—Sales, closing price and net change of the 15 most active stocks today: Int Pap and Pow 34,200—17% ; up %. Pepsi Cola 29.000—28; down %. Richfield Oil 25.100—10%; up %. South Pac. 23,000—12%: up %. Curtiss Wright 22.200—9%; up %. N Y Central 21.400—13; up %. 11 S Rubber 18.600—23%; up %. TT S Steel 18,200—59%; up 1%. Socony Vac 16,700—9%; up %. Packard 15,500—2%: up %. Gen ?rotors 14.800—39% ; up 1%. Republic Stl 14.600—20%; up %. Anaconda 14.500—29% ; up %. Comwlth and Sou 14,100—9-16 ; up 1-16. Newport Tnd 13.200—9%; up 7s. NEW ORLEANS COTTON NEW ORLEANS, July 8.—CP)— Spot cotton closed steady, 21 points higher. Sales 2.638. Low middling 13.66, middling 14.96, good middling 15.41. Receipts 5,745. Stocks 482, 591. RAPID PACKAGE DELIVERY Between Wilmington and Jacksonville North Carolina Only Packages of 150 lbs or less accepted for Transportation FOR FURTHER INFORMATION Wilmington Jacksonville Dial 3311 Dial 3226 k . ' • -i ' RAILROAD BONDS IN MORE GAINS Some Issues Record Two Points to Substantial In creases of Monday NEW YORK, July 8—(.R)—Rail road bonds moved up strongly again today, a large number adding frac tions to around 2 points to Monday’s substantial gains. The general mar ket was narrow and the trend aver aged lower among industrials and utilities. Turnover of $11,274,700, par value, was the best si.ice June 26 and com pared with $9,589,300 the day before. The Associated Press average of 20 rails moved up .3 of a point to 65, within 1% points of the 1941 high. As in recent days when rails were to the fore, buyers centered their at tention on the low and medium priced groups which are calculated to benefit the most from the present high rate of traffic being handled. Some of the more active issues emerging with most of the clay’s im provement were Southern Pacific 4%s at 52%, Nickel Plate 4%s at 64, New York Central 5s at 63%, Southern Railway 4s at 62% and Baltimore and Ohio convertibles of '60 at 31. St. Paul 5s, on sales of $472,000, par value, closed % net lower at 11% after having been up to 11% at one time. Only 6 of the 30-odd government issues traded on the stock exchange and price changes were negligible. There was more activity over the counter but here too the list moved only slightly either way. _ BOND AVERAGES _ (Compiled by The Associated Press) 20 10 10 10 Rails Indus Util For Net change — a.3 d.l d.l Unch Tuesday_ 65.0 104.9 101.3 47.6 Previous day- 64.7 105.0 101.4 47.6 Month ago — 64.6 104.7 101.0 44.5 Year ago_ 56.3 102.4 95.7 37.4 1941 high_ 66.5 105.3 101.5 47.6 1941 low_ 60.2 104.2 99.0 38.0 1940 high_ 61.4 105.9 100.7 53.5 1940 low_ 48.3 98.9 90.3 35.1 10 Low Yield Bonds Tuesday_114.2 Previous (lay _114.1 Month ago_113.5 Y'ear ago _111.4 1941 high _ 114.6 194] low _112.2 1940 high _114.6 1940-low _1_108.4 CHICAGO LIVESTOCK CHICAGO July 8.—(£1—Steady to 10 cent higher prices prevailed to day in a moderately active hog market, pushing top values to $11.10, the highest since October, 1937. Lamb prices were strong to higher, but values in the cattle sec tion were mixed with medium and heavy weight steers weakening un der large supplies. Most values in the hog market, however, were 5 to 10 cents up Packers had 5,500 shipped directly to them today compared with 2.500 yesterday. The bulk of medium weight swine were $10.90 up. A moderate supply of medium weight and weighty steers added to yesterday’s burdensome supplies resulted in a dull trade and prices were weak with Monday’s 25 cent downturn, and in instances 10 to 15 cents lower. Yearlings and light steers however held firm. <U. S. Dept. Agr.)—Salable hogs 13,000: total 18,500: moderately ac tive, steady to 10 higher than Mon day’s average, mostly 5 to 10 up; top 1.10; good and choice 180 to 270 lbs. 10.85 to 1.10; generally 10.90 up; most 270 to 330 lbs. 10.65 to 1.00; good 300 to 4100 lb. pack ing sows 9.75 to 10.00; few light butcher , kind to 10.25; good 400 to 500 lb. sows 9.40 to 60; shippers took 2,000; holdovers 1,000. Salable cattle 7,500; calves 800; market on medium weights and weighty steers again very dull; weak with Monday’s 25 cent down turn; instances 10 to 15 lower than Monday’s close; moderate supply on sale; yearlings and light steers firm, fairly active; supply scaling 100 lbs. downward well-clean up; mostly 9.75 to 11.00 trade; extreme top 11.75 paid however only for yearlings and light steers; most weighty long fed steers 10.50 to 11.15; prime 1300 lbs. averages 11.65; comparable 1546 lbs. 11.40; very few weighty steers above 11.25; in sympathy with light steers fed heifer market firm and active; bulk fed heifers 10.75 to 11.35; top on this class 11.60; bulls 10 to 15 higher; scarce and more active with weighty sausage bulls to 9.15; other classes scarce, fully steady; cutter C0W6 selling at 7.15 down; most grass fat cows 7.50 to 8.00; vealers 12.00 down. Salable sheep 1,500; total 2,500; spring lambs strong to 15 higher; few choice natives 1.75; bulk in cluding two doubles good to choice Idaho lambs 11.35 to. 60; throwout natives mostly 9.00 down; strong weights around 9.50; mature class es steady; one double good 75 lb. yearlings 9.00; few fat ewes 4.75; bulk 3.50 to 4.50. 1 FREIGHT LOADINGS NEW YORK, July 8,—(iD—Reve nue freight cars handled by railroads reporting today for the week ended July 5 included: July Prev. Year 5 Week Ago ^Hudson ^ 13,022 17,930 12,183 ^Central — 34,189 38.473 23,247 C1Ohioand - 33,008 44,445 34,047 Nickel Plate- 19,721 21,385 14.697 Pere Marq — 12,528 13.824 9,517 NEW ORLEANS COTTONSEED NEW ORLEANS, July 8.—(.Pi Cottonseed oil closed steady. Bleach able prime summer yellow and prime crude unquoted. July 12.05b, Sep. 12.02b, Oct,. 11.78b| Dec.. 11.75b, Jan. 11.77b. i Closing Bond Quotations BT THE ASSOCIATED PRESS NEW YORK, July 8.—CZP)—Pinal bond quotations: A T and S F 4s 95_— 109% B and O Cvt 4%s 60_ 31 Can Pac 4s Perp __ 64 C and O 4%s 92 __131% C B and Q 4%s 77_ 74% Chi El 111 5s 51 _ 26% C R I and P Rfg 4s 34_ 13% Clev Un Term 4%s 77c_ 69 Erie Rf 5s 67 _ 30% Pla East Cst 5s 74 _ 10 Hud Coal 5s 62a _ 38% Hud and Man Rfg 5s 57_ 44% Int Gt N Adj 6s _ 52% Int Mer Mar 6s 41 _ 88% Lou and N 4%s 2003 _ 97% M K and T Adj 5s 67_ 12% Mo Pac Gen 4s 75_ 2 N Y C Rf 5s 2013_ 63% Norf anti W 4s 96_._127 Nor Pac 6s 2047 _ 66 Penn R R Gen 4%s 65 __105% Phil Read C and I Cv 6s 49 — 6% Purity Bak 5S 48 _104% Seab A1 Cn 6s 45 _ 7% So Pac Reg 4s 55_ 66% So Ry Cn 5s 94_ 90% So Ry Gen 4s 56 _ 62% Third Ave 4s 60 _ 55 West Md 4s 52 _ 93% FOREIGN Australia 5s 55 _ 66% Ger Govt 7s 49_ 8% Italy 7s 1951 _ 23 Japan 6%s 54 _ 76% Orient Dev 5%g 58_ 41% Rio Gr Do Sul 6s 68_ 10% GOVERNMENT Treasury 3%s 46-44 _107.30 2%s 47-45 _ 108.16 2s 50-48 _106.17 2%s 60-55 _111.17 2%s 58-56 _104.17 2 % s 65-60 _111,16 Closing Stock Quotations BY THE ASSOCIATED PRESS Adams Exp _ 6 Air Reduct _42 1-8 Alaska Jun_ 3 3-4 A1 Chem & Dye _156 3-4 Alleghany_ 7-16 Allis Chal Mfg _30 5-8 Am Can _>_86 1-2 Am Car Fdv_ 33 5-8 Am Coml Alco_ 6 5-8 Am For Pow _ 3-4 Am Pow & Lt _ 1 1-4 Am Rad & St S _ 6 5-8 Am Roll Mill —. 66 Am Smell & Ref_ 43 3-4 Am Sue Ref_17 3-4 AT&T _159 Am Tob B_71 3-4 Anaconda _29 1-8 Arm 111 _ 4 7-8 A T & S Fe_30 ACL_ 21 3-4 Atl Ref _21 1-4 Atlas Low _ 65 1-4 Aviat Coro - 3 3-4 Baldwin_16 3-8 B & O__ fi 7-8 Barnsdall _10 1-8 Bendix Aviat_ 39 3-8 Beth Steel _ 76 1-4 Boeing Airpl_17 3-8 Borden_20 Borg Warner _19 1-8 Briggs Mfg _ 20 3-8 Budd Mfg _ 4 1-8 Budd Wheel _ 7 3-4 Burl Mills _18 1-8 Bur Add |ilach_ 8 Calumet i Hec _ 7 Can Dry _14 3-4 Can Pac - 4 1-2 Cannon Mills _... 36 1-2 Case .T I -_116 3-4 Caterpil Trac_-_48 1-2 Champ P A F-21 1-4 Ches <6 O _ 37 7-8 Chrysler _ 58 1-4 Coca Cola _91 Colum G A E_ 2 7-8 j Coml Credit_ 25 3-4 Coml Solv_ 10 3-4 Comwlth & Sou _ 9-16 Consol Edison _18 7-8 Con Oil _ 6 1-4 Cont Can - 35 1-4 Corn Prod _49 1-2 Curtiss Wright _ 9 1-4 Curtiss Wright A_ 28 1-4 Del Lack & W _ 3 5-8 Doug Aire __— 75 Dow Chem _138 1-Z DuPont._159 1-2 Eastman Kodak-137 Elec Auto Lt . 28 3-8 Elec Pow & Lt-- 1 5-9 Firestone _17 1-4 Freeport Sul_37 1-4 Gen Elec -_ 33 7-8 Gen Foods_38 Gen Mot _39 1-4 Gillette _ 2 3-4 Glidden _16 1-2 Goodrich _15 Goodyear - 18 1-4 Graham Paige- 11-16 Gt Nor Ry Pf_27 Hud Mot . 3 Til Cent_ 8 1-2 Tnt Harvest - 52 5-8 Tnt Nick Can -28 Int Tel & Tel - 2 1-8 Johns Man- — 68 Kennecott -38 1-2 Kroger Groc -27 Libby OFGi..- 30 3-8 Loews ____—- 30 3-8 Lorillard -18 Louis & Nash - 68 3-4 Mack Truck --—31 5-8 McCrory Stores-15 Mont Ward ..-..35 Murray Corp- 5 1-2 Nash Kelv - 4 Nat Biscuit-16 1-2 Nat Cash Reg -13 Nat Dairy Prod-13 7-8 Nat Dist - 22 3-4 Nat Lead _17 1-2 Nat Pow & Lt-17 1-2 N Y Central -13 No Am Aviat-15 North Am -12 5-8 Nor Pac-- -- 7 1-4 Ohio Oil _ 9 5-8 Otis Elev--16 1-8 Pac G & E -24 1-2 Pac Mills _17 1-4 Packard - 4 3-4 Param Pix -11 l*2 Penney ,T C _—-81 1-8 Penn R R -24 1-2 Phillips Pet---44 1-4 Pitt Scr & B--- 5 3-4 Pub Sve N J -22 1-2 Pullman - 28 Pure Oil_-— 1® l*8 Radio - 3 3-4 Rad K O- 3 1-4 Rem Rand _ 9 1-4 Rep Steel _ 20 5-8 Reynolds B - 33 3-8 Seab Oil _1® 3-8 Sears - 73 3-8 Shell Union -15 l'8 Socony Vac- 9 l"2 Sou Pac -l2 1-4 Sou Ry -I4 Sperry -38 1-8 Std Brands - 6 Std Oil Cal -23 1-2 Std Oil Ind--32 1-8 Std Oil N J_43 1-2 Stewart Warner _ 7 1-4 Studebaker _ 5 5-8 Swift _23 Tex Corp_41 1-4 Tex Gulf Prod_ 3 3-4 Tex Gulf Sul _37 Timken Det Ax _33 Transamer_ 4 3-4 Trans and West Air_11 5-8 Un Carb_75 1-2 Dn Pac _82 1-4 Unit Aire_41 1-8 Unit Corp ___ 5-8 Unit Drug _ 3 1-2 Unit Fruit _67 1-4 Unit Gas Imp_ 7 1-8 US Ind Alco _27 1-4 US Pipe_ 27 7-8 US Rub _ 23 3-4 US Smelt and Ref_69 US Steel___59 1-4 Vanadium _' 26 1-2 Vick Chem _41 7-8 Va Cart Chero_ 1 7-8 Warner Pic _ 4 West Mary __ 2 7-8 Western Union _25 3-8 West Elec and Mfg-_96 1-8 Wilson__ 5 1-4 Woolworth _ 29 7-8 Yell T and C_15 1-8 Youngs S and T _38 1-8 Total sales, 1,387.673. CURB Asso G and El A _ 1-16 Can Marconi __ 1-2 Cities Service _ 4 3-4 Colon Dvmt_ 1 3-8 El Bond and Sh _ 2 3-8 Gulf Oil _37 1-2 FOREIGN EXCHANGE NEW YORK, July 8.— W1)—'The Canadian dollar declined 1-8 cent in terms of the United States dol lar in foreign exchange trading to day, closing at 88 3-16 U. S. cents. The Shanghai dollar also was off a shade. Other major currencies generally were unchanged. Closing rates follow (Great Bri tain in dollars, others in cents) Canada: Official Canadian con trol board rates for U. S. dollars: buying 10 per cent premium, sell ing 11 per cent premium, sell valent to discounts on Canadian dollars in New York of buying 9.91 per cent, selling 9.09 per cent. Canadian dollar in New York open market 11 13-16 per cent dis count or 83.18 3-4 U. S. cents. Europe: Great Britain, official, (Bankers foreign exchange com mittee rates,) buying $4.02, selling $4.04; open market, cables $4.03 1-2. Latin America: Argentine official 29.77; free 23.80; Brazil official 6.06N; free 5.10N: Mexico 20.70N. Far East: Japan 23.62; Hong kong 24.51; Shanghai 5.31. (Rates in spot cables unless otherwise in dicated). n—Nominal. CRUDE OIL PRODUCTION new york, july 8. —(tfl—The nation’s daily average crude oil production in the week ended July 5 declined 189,050 barrels to a total of 3,658,200 compared with 3,602, 400 a year ago. the American Pe troleum institute reported today. Basing its estimate on reports of refining companies owning 86.3 of total U. S. capacity, the API set the daily average crude run to stills at 3,745,000 barrels on ope rations at 87.1 per cent of capacity Last week the figure was 3,930,000 barrels and a year ago 3,535,000 barrels. Finished and unfinished gasoline stocks at the end of the week to taled 90,064.000 barrels compared with 91,461,000 barrels at the end of the previous week and 92,988,000 barrels a year earlier. Total gasoling production was 12, 558,000 barrels against 13,252,000 barrels last week. Imports for the week were 1,559,000 barrels of pe troleum, a daily average of 222,714 barrels and compared with a total of 1,684,000 barrels for the week before. SAVANAH TURPENTINE SAVANNAH, July 8— (A*)—Tur pentine 39;; offering's 404; sales 20,200 gallons; receipts 440; shipments 110; stock 13,009. Rosin offerings 1,132; sales 1,132; receipts 1,411: shipments 2.244; stock 136,182. Quote: B, 1.79; D, 1.94; E, 1.95; P, G, H, I, 1.98; K, 2.01; M, 2.09; N, 2.18; WG, 2.32; WW, X, 2.53. RALEIGH HOGS RALEIGH, July 8.—UP)—(NCDA) —Hog prices rose 10 cents at Rocky Mount and 15 cents at Richmond, Va., today, to tops of $10.40 and $10.65 respectively. SUFFOLK PEANUTS SUFFOLK, Va., July 8.—UP)—Pea nut quotations: Jumbos 5; bunch 4 3-; runners 4 3-4. Market continues quiet. SMALL C01 )N CROP PREDICTED Lightest Yield Since 1934 In Prospect Government Survey Shows WASHINGTON, July 8.—(jD—Un less yields average higher than nor mal, this year’s cotton crop may be the smallest since the Agriculture department paid benefits to farmers to plow up part of their crop in 1934, officials said touay. This forecast was based upon a federal crop reporting board estimate that the acreage in cultivation on July 1 totaled 23,519,000 acres, or 5.4 per cent less than a year ago and 28.6 per cent less than the 1930 39 average. The board said that if the percent age abandoned was equal to the 10 year averge, the harvested acreage would be 23,102,000, or the smallest since 1895. Such an acreage, on the basis of the average yield for the 1931-40 period, would produce about 9,934,000 bales compared with last year’s 12, 566.000 bales and the record crop of 18.946.000 in 1937. However, yields during the past few years have been somewhat larger than the 1931-40 average. The board’s acreage report was a factor in a shcrp advance in cotton prices to the season’s highest levels today. An average-yield crop would be less than this year’s cotton require ments. Officials have estimated that about 10,850,000 bales would be required to meet domestic and ex port demands for the year ending July 31. Officials emphasized, however, there would be no cotton shortage. The department has estimated there is a surplus of about 12,300,000 bales on hand. This compares with a surplus of about 10,600,000 bales a year ago. Departure of Troops From Carolina Beach Attributed to Orders Rumors in circulation around Carolina Beach that the sudden de parture of Fort Bragg troops three hours after their arrival last Wednesday morning for recreation was the result of a request of beach officials, were vigorously denied yes terday by E. V. Leonard, chief of po lice at the beach. He said that the soldiers left on orders from Fort Bragg for reasons known only to the army, that the soldiers' conduct at the beach had been entirely satisfactory, and that there had been no reason for beach residents or officials to ask them to leave. NEW YORK COTTONSEED NEW YORK, July 8.—Iff)—Cotton seed oil futures scored further gains of 1-4 to more than 1-2 cent a pound today on broad buying touched off by new rapid advances in soybeans, lard and other allied markets. The move carried the market back to within a cent a pound of the June peak reached just before price Administrator Henderson threatened a price ceiling. Sep. closed at 12.01 ,Oct. 12.07 bid, Dec 12.05, Jan. 12.05. Crude oil. was quoted at nominal levels in the southeast, valley and Texas. NEW YORK DRYGOODS NEW YORK, July 8.—<A»>—Mills a\-e refusing to quote prices on any textile goods that come under the ceiling prices recently established and have announced intention of ig noring the retroactive clause regard ing prices on old contracts. Rayon traders reported very firm prices and available yardage for nearby delivery limited. Woolen goods were quiet as operators waited further government awards. NEW YORK COPPER NEW YORK, July 8.—(#1—Copper steady, electrolytic spot Conn, to 12.00. Tin steady, spot and near by 53.12 1-2; forward 52.37 1-2. Lead steady, spot, New York 5.85 to 90; East St. Louie 5.70. Zinc steady, east St. Louis spot and for ward 7.25. Pig iron, aluminum, antimony, quicksilver, platinum, Chines Wolframite and domestic scheelite, unchanged. PENNY SALES UP NEW YORK, July 8.—WV-J. C. Penny Co. sales for June were $28, 389,621, largest in history, as com pared with $24,737,620.62 for the same month in 1940. DEFENSE BOND QUIZ ((. When are the Bonds dated? A. The first day of the month ■ on which remittance is received by any authorized issuing agent. Q. Where should I keep my Bonds? A. In a safe place, because they increase constantly in val ue. If you wish, the Treasury Department or any Federal De serve Bank will hold them in safekeeping for you without ex tra charge, giving you a receipt. Note.—To purchase Defense Bonds and Stamps, go to the nearest postoffice or bank, or write for information to the Treasurer of the United States, Washington, D. C. 27 Hurt In N. Y. Bus Crash Both drivers and 25 passengers were injured in this liead-011 collision betwee 11a Boston-to-New York bus and a produce truck on the Boston Post Road in the Bronx. The bus driver, John J. Thorborn, despite two fractured legs, crawled through the wrecked vehicle to open emergency doors for his 60 passengers. Gen. Lear Makes Good Threat; ‘Doghouse’ Battalion On March MEMPHIS, Tenn., July 8.— l.'P) — Weary and footsore soldiers of the 35th division’s “Doghouse” battalion, paying the penalty for an outburst of whistling and calling to shorts ciad girls on a Memphis golf course, obviously' had learned their lesson tonight as they alternately hiked and rode through Arkansas. Strictly silent and with not even a sidelong glance for girls on the sidewalks, the 350 chastened soldiers passed through Forrest City. Ark., in mid-afternoon, one-third of the penance trek completed in punish ment ordered by Dieut.-Gn. Ben Lear for contrast he said was a “dis grace to the Army.” Before leaving Memphis under a hot sun for the 150-mile jaunt back to Camp Robinson, one trooper said, "It’s the old Army game. We’d just gotten a pat on the back for our work at maneuvers—now we’re in the doghouse because we hollered at some girls!” All tins may not nave Happened had multi-clad General Lear not been on the scene. "Hey buddy, don’t you want a caddy?” was one of the calls from a truck. The com mander ordered the battalion ride to camp and to return at once to Memphis for disciplinary action. General Lear delivered a stiff re buke to the men after their over night bivouac in a city park and also said in his letter that resignations of commissioned officers involved would be accepted if offered. He said non coms would be demoted if they couldn’t keep discipline. Grinning sheepishly at passers-by, the troops marched alongside the highway in single file after leaving Memphis at 7:30 a. m. The old war tune, "Parlez Vous,” stretched its elastic words to cover the tale of the battalion's woe. “The boys aren't sore about it,” said a truck driver, parked behind the column to pick up any men who might fall out from fatigue. “I'm afraid there’ll be plenty falling out,” he continued. "We haven’t slept on an Army cot in five nays—and it's been a long time since most of us had a batli or shave.” One of the soldiers, who exchanged a few words with a reporter while changing trucks along the way, said the men hiked about 10 miles before they were all put aboard trucks. He said the battalion would be dismount ed again at Lonoke, 22 miles east of Little Rock, and ordered to march again. “The incident is closed,” General Lear said after the already travel weary soldiers departed once again for their base. CHICAGO BUTTER CHICAGO, July 8.—CT)—Butte-., receipts 1,616,481; firm; market un- < changed. CHARLOTTE COTTON CHARLOTTE, July 8.— [M— Spot cotton 15.10. ... EXPERT WATCH and JEWELRY REPAIRING HHh u P9HIHI H • If Your Telephone Is Rung By Mistake Here are the Probable Causes Many telephones are being rung here each day by mistake because too many people are not careful enough in dialing their numbers. The most common mistake results from dial ing numbers from memory. When in doubt about a number look it up in the directory before dial ing. Transposing numbers while dialing is another mistake frequently made. For example: You have number 1234 clearly in mind, but you dial 1324. Always listen for the dial tone before dialing. If you dial before hearing the dial tone you will not get anyone or you will get a wrong number. Forcing the return of the dial will also cause you to get a wrong number. After turning the dial to the finger stop, remove your finger and allow the dial to return of its own accord. When you discover you have dialed a wrong number, do the courteous thing, don't hang up at once, but wait a minute and beg the pardon of the person you have called to the telephone by mistake. The telephone company and those people who daily are bothered by being called to the tele phone by mistake, will appreciate your coopera tion in correcting the trouble. J. R. THOMAS, Mgr. Southerr Bell Telephore rrr Telegrrph Coriprrs 'i INCORPORATED
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 9, 1941, edition 1
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