Newspapers / Wilmington Morning Star (Wilmington, … / May 20, 1942, edition 1 / Page 9
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L°wer Trends Prevail At Tuesday’s Session Of Stock Exchange average is off ,2 OF A POINT Volume Picks Up On Set wk: Russian War News Provides Bullish Fuel vP-ff YORK, May 19.—W»—Low trends were the rule in today’s % market when an early at Zvt at a modest forward failed t0 draw in buyers. American Telephone, which had retrieved more than 14 points re ently after dipping to 7-year lows semi other so-caalled blue chips. The Telephone leader apparently was influenced by fears directors --.ioht reduce the dividend at to morrow’s meeting. It finished with f net loss of 2 1-2. New England Telephone cut its disbursement from $1-75 to $1.50. Du Pont held up fairly well most of the dav but slipped in the final hour and closed down 4 1-2. U. S. Rubber Preferred conceded 2 1-2 and Chrysler, Dow Chemical and Owens-Illinois a point or so each. The Associated Press average of 60 stocks was off .2 of a point at 339 Volume picked up on the set back Transfers of 376,780 shares compared with 216,260 yesterday and were the largest since April 29 Of 601 stocks traded 229 were off 207 up and 165 unchanged. The Russian war news continued to provide some bullish fuel but even this seemed to have faded a bit as a price maker. Restraining bidders were persistent doubts of many companies being able to maintain regular payments to shareholders in the face of mount ing taxes and the spreading war economy. Market Street Railway prior pre ferred edged into new high ground for the year on reports the sale of the property to San Francisco had been tentatively agreed upon. Among isolated strong perform ers, up 1 3-8 to 2 1-2 points, were American Airlines, Eastern Air Lines and Pan American Airways. The revival here was attributed to the idea these issues had been over sold on announcement the army had taken over actual operation or control of all passenger lines. It was expected the transport sys tems would be given satisfactory federal compensation. Prominent on the losing end were U. S. Steel, Bethlehem, Gen eral Motors, Anaconda, Kennecotl, Chrysler. Bendix Aviation, Glenn Martin, Texas Co., Chesapeake and Ohio, American Can, J. C. Penney, Air Reduction and Allied Chemi cal. Clinging to modest plus signs were American Smelting, Sears Roebuck, Woolworth, U. S. Rubber Common, Standard Oil (N. J.), In ternational Nickel, Union Carbide. Eastman Kodak, International Harvester Goodrich and Johns Manville. Bonds were irregularly lower. At Chicago wheat was up 3-8 to 3-4 of a cent a bushel, corn ahead 1-8 to 3-8 and hogs down 5 to 10 cents. Cotton advanced 5 to 40 cents a bale. In an uneven curb Empire Gas Preferreds rose 4 to 6 points on a few sales. A shade improved were Electric Bond & Share, Gulf Oil. Pennsylvania-Central Airlines and Phoenix Securities. On the offside were Lake Shore, American Gas, Humble Oil and St. Regis paper, lurnover here was 46,980 shares versus 32,395 Monday.' STOCK AVERAGES 30 15 15 60 Indust Rails Util Stks Net change .. d.3 unch d.3 d.2 Tuesday_ 48.7 15.2 23.0 33.9 Prev. dav ... 49.0 15.2 23.3 34.1 Month ago .. 48.0 15.2 22.3 33.4 Year ago .... 56.7 17.0 30.7 40.1 942 high .... 56.0 17.6 27.3 38.7 1942 low. 46.0 14.7 21.1 32.0 941 high .... 63.& 19.0 35.5 45.0 4941 low. 51.7 13.4 24.5 35.4 60-Stock Range Since 1927 , 1938-40 1932-37 1927-2S . 54.7 75.3 157.7 ■jOW . 33.7 16.9 61.8 WHAT STOCKS DID ,, Tues. Mon. Advances . 207 217 Declines . 229 150 unchanged. 165 174 J^l issues_ 601 541 BLENDED RESERVE dosing Bond Quotations BT THE ASSOCIATED PRESS GOVERNMENT Treasury 3%s 45-43 _ iao 1 o 4s 54-44 —.mil %-f -::: lldl ,|ept..ioo.li 2%s es-ss.::::::::::::: mie . m DOMESTIC A T and S F 4s 95 _. 110 B and O Cv 60 St__22. Can Pac 4s Perp_ 69ti C B andl Q 4%s 77 69 Chi and E 111 Inc 97_ 25% Chi Gt West 4s 88_ 67% £.ri aIld P Rig 4s 34 ..."I” 13% Clev Un Term 4%s 77c. 61. Fla East Cst 5s 74_ 10% Hud Coal 5s 62a___ 42 Ill Cent 4%s 66 45 . 58 Lou and N 4%s 2003 _ _ 95 M K and T Aj 5s 67_ 18 Mo Pac Gen 4s 75_ 3% N Y C Hf 5s 2013__ 52% Nor Pac 6s 2047 ____ 66V4 Penn R R Gen 4%s 65_102% Phil Rd C and I Cv 6s 49_ 9 Seab A L Cn 6s 45_j. 9% So Pac Rfg 4s 55.. 78% So Ry Cn 5s 94__ 91% So Ry Gen 4s 56_ 67.. Third Ave 4s 60_I.I 53"' West Md 4s 52 ... 89 FOREIGN Australia 5s 55 _ 62 Australia 4%s 56.. _ 57% Brazil 6%s 26-57 ... 28% Rio Go Do Sul 6s 68_ 14% Closing Stock Quotations BT THE ASSOCIATED PRESS Adams Exp _ 5% Air Reduc _ 31 Alaska Jun _ 1% A1 Chem and Dye..124 Allis Chal Mfg_ 23 Am Can _ 62.. Am Car Fdy .... 2lII Am Coml Alco7_ 8% Am Pow and Lt_ 9-16 Am Rad and St S_ 4% Am Roll Mill _ 934 Am Smelt and Ref .. 37 A T and T —. IH34 Am Tob B__ 39% Anaconda _ 23 Arm 111..3 2% A T and S F. 3534 ACL . 21.. Atl Ref _ 1434 Aviat Corp ..I 2% Baldwin _ 10% B and O. 3__ Barnsdall _ 8% Bendix Aviat .. 29% Beth Stl_ 52% Boeing Airpl ..._ 13% WHEAT, SOYBEANS, CORN MOVE AHEAD Grains Reverse Recent Trend And Finish Session With Net Gains BY H. ALAN VOLKMAR CHICAGO, May 19.— (£>)—Wheat, corn and soybean futures reversed the recent down trend today and finished the session with net gains ranging up to a cent a bushel. Rye and oats after showing gains throughout the day, broke badly just before the close and ended with net losses. News which ordinarily might ef fect the market was entirely lack ing and after a slight opening dip prices in virtually all pits shot up abruptly, wheat at times recover ing as much as a cent and a half and corn advancing % cent. Some traders attributed the rally to short covering operations in the face of limited offerings and oth ers to a correction of the technical position of the market. Whggt advanced % to % cent higher than the previous close, May $1,191/4, July $1.21-1.20%; corn rose __ to %, May 85%, July 88V4; oats were higher to % lower; rye 1__ to 1% down; soybeans „ to 1 cent up and lard unchanged at the ceiling levels on the de ferred contracts and 5 cents a hun dred pounds lower for May de livery. The range follows: Open High Low Close WHEAT— May .119 120 118% 119% July .120% 122 120.. 120% Sep. _122% 124% 122% 123 Dec. .125% 127 125% 125% CORN— May .. 85% 86 85% 85% July . 88% 88% 88 88% Sep. 90- 90% 90.. 90% Dec. _ 92% 93% 92% 93 OATS— May _ 55% 56% 55% 55% July .. 53% 54 53% 53% Sep. . 54 54% 53% 53% SOYBEANS— May old .. 180 180 179% 179% May new __ 180% July old .. 181% 183% 181% 182% July new .. 183% 184% 183% 183% Oct. ..176% 178% 176% 177Vi RYE— May . 69% 70% 68% 68% July . 71% 72% 70% 70% Sep. . 74% 75% 73% 73% Dec. .. 77% 78% 77 77 LARD— May_ _ 12.67 July . 12.82 Sep. _ __T_12.82 __\r_ NEW YORK COTTON NEW YORK, May 19.—(^—Cot ton prices were on the mend today, gains at one time ranging to 55 cents a bale with final quotations a little under the best. Early voting in the senate on the controversial parity price.issue re mained the topmost influencing de velopment of the day with parti sans on both sides of the fence doing a lot of talking to bolster their opinions on how the vote would go. Several neutral brokers observed, however, that sellers were less in evidence than on Mon day. The rise in grain prices at Chi cago and a little better demand of war news likewise exerted some in fluence. The range follows: Open High Low Clc July . 19.31 19.38 19.31 19.3 01 Oct. 19.52 19.62 19.50 19.5', ,p 04 Dec. . 19.62 19.76 19.61 19.71 Up 06 Jan. . 19.66 19.66 19.68 19.75nUp 05 Mar. 19.79 19*90 19.79 19.87nUp 06 May _ 19.87b20.01 19.94 19.98 Up 08 Other months closed nominal, June 19.20, Aug. 19.41, Sep. 19.49. Nov. 19.64, Feb. 19.81, April 19.93^ Spot cotton closed nominal 20.89 cents for 15-16 middling. -V SPOT COTTON NEW ORLEANS, May 19.—(iP) Spot cotton closed steady 4 points higher. Sales 392. Low middling 16.46, middling 19.76, good mid dling 20.21. Receipts 1,141, stock 452,752. Borden_ 18% Borg Warner_ " 22% Briggs Mfg.. 173/. Burl Mills _ 163/4 Bur Add Mach___ 6% Calumet and Hec_” 6 Can Dry _”1 10 Can Pac _ 4% Caterpil Trac _ 33 Champ P and F_;_ 15 ChesandO.. 28% Chrysler _ 56 Coca Cola_" 66 Colum G and E_ 1__ Coml Credit_3 18% Coml Solv _~~~ 7% Comwlth and Sou.3-15 Consol Edis_ 12% Con Oil _ 4% Cont Can_ 22% Corn Prod _45% Curtiss Wright_ 6% Curtiss Wright A. 19% Davison Chem__ 10 Del Lack and W_ 3 Doug Aire _ 52 Dow Chem_ 96% Du Pont____103 Eastman Kod _ 120 Elec Auto Lt_ 25% Elec Pot and Lt_ 15-16 Firestone _ 14% Freeport Sul_ 30 Gen Elec _ 23% Gen Foods _ 27 Gen Mot_ 34 Gillette _ 3% Goodrich_ 17% Goodyear _ 16 Graham Paige_ % Gt Nor Ry Uf. 22% Hupp Mot_ 5% 111 Cent ___ 5% Int Harvest _ 43% Int Nick Can_ 26% Int Tel and Tel_ 3 Johns Man_ 51% Kennecott_ 27% Kroger Groc _ 24% Libby OFG1_ 24% Ligg and Myers B_ 58 Loews _ 39% Lorillard_j_12% Mack Truck _ 30% McCrory Stores_ 10 Mont Ward_ 27% Murray Corp _ 5 Nash Kelv_ 5.. Nat Biscuit_ 13% Nat Cash Reg_. 14% Nat Dairy Prod__ 13% Nat Dist____ 19% Nat Lead__ 13% Nat Pow and Lt_ 1% N Y Cent .. 7 No Am Aviat_ 10 North Am _ 8 Nor Pac _ 5% Ohio Oil_ 6% Otis Elev _ 13% Pac G and E_ 17% Pac Mills _ 16% Packard_ 2 Param Pix_ 13% Param Pf_.... 106% Penny J C_ 62% Penn R R_ 20% Pepsi Cola _ 19% Phillips Pet_ 33% Pub Svc N J___ 10% Pullman _ 23 Pure Oil _ 7% Radio _ 2% Rad K O. 2.. Rem Rand_ 7 _ Rep Stl. 13% Reynolds B _ 23% Sears _ 47 Shell Un .. 11.. Soconv Vac _ 7 Sou Pac _ 10% Sou Ry_ 13% Sperry _ 24% Std Brands_ 3 Std Oil Cal . 19% Std Oil Ind .. 21% Std Oil N J. 33% Stewart Warner_ 6% Studebaker _ 4% Swift . 22.. Tex Co_ 32% Tex Gulf Prod_ 2.. Tex ulf GSul __ 28% Trans Amer_ 4 Trans and West Air_;_ 9 Un Carb _ 60% Un Pac . 71 Unit Aire _ 25.. Unit Corn_ % Unit Fruit. 53 Unit Gas Imp_ 3% U S Pipe. 22% U S Rub.—. 17 U S Steel.„. 45% Vanadium _r— 14% Va Caro Chem_ 1% Warner Pic _ 4% Western Union_ 26 West Elec and Mfg_ 67% Wilson _ 3% Woolworth _ 24 Yell T and C_ 10% Youngs S and T ,_ 30% Final stock sales, 376,780. CURBS Can Marconi___ % El Bond and Sh_ 1.. Gulf Oil ..—. 26% -V STOCKS IN THE SPOTLIGHT NEW YORK, May 19. — «•) — Sales, closing price and net change of the fifteen most active stocks to day: Int Tel and Tel 16,900—3; a Vi. Pan Am Always 12,200—15%; a 1%. Am Rad and Std 9,400—4%; a Pepsi Cola 8,000—19%; a ... Unit Gas ImD 7,900—3%; no. Twent Cent Fox 6,600—10; no. Anaconda 6,400—23; d %. Gen Motors 6,000—34; d %. Kennecott 5,800—27%; d %. Int Tel and Tel For Ct 5,500— 2%; d ... U S Rubber 5,500—17; a %. Savage Arms 5,400—9%; d 1%. Uint Air Line* 5,200—10%; a 1%. Erie R R Ct 4,d00—5; a N Y Central 3(900—7; no. CHANGES IN BONDS HELP TO FRACTIONS Trading On Market Is A Highly Specialized Affair Tuesday NEW YORK, May 119.—OR—'The bond market was a highly spe ciahzed affair today with changes m the principle corporate groups confined to fractions mostly and numerous issues of the same com pany . moving in opposite direc tions. Traders sold New York Central Consolidated 4s down to 50 1-18, off 3-8 of a point net but bought the road s 5s of 20113 heavily and the issue ended up 3-8 at 52 3-8. North ern Pacific 6s lost 1-8 at 66 1-4 but the 4s gained 1-8 at 75 1-8. There were other instances of cross cur rents at work. Leaning uniformly lower, how ever, were obligations of many rail, industrial and utility con cerns. Included were Southern Pa cific 4 l-2s, Illinois Central 4 3-4s, Missouri Pacific 5s, Nickel Plate 4 l-2s, Pere Marquette 5s, West ern Maryland 4s, Childs Co. 5s, At lantic Coast Line collateral 4s and New Haven convertible 6s. Holding above water were Mar ket Street Railway 5s, Consoli dated Edison 3 l-2s, Delaware & Hudson 4s, New York Steam 3 l-2s, International Telephone 5s, Lac lede Gas 5 l-2s, and Goodrich 4 l-4s. A large number of South Amer ican loans were unusually active and generally higher. Included were Argentine 4s, Uruguay Ad justment 3 3-4s, Brazil 6 l-2s and several public and private issues of Chile. U. S. Governments gave up a little ground on the stock exchange and over the counter in quiet deal ings. Total sales of $6,453,100, par value, compared with $5,147,300 on Monday. BOND AVERAGES 20 10 10 10 Rails Indus Util For Net change .. d.2 a.l a.l a.2 Tuesday _ 64.0 103.7 94.0 48.2 Prev. day ... 64.2 103.6 93.9 48.0 Month ago .. 64.8 103.3 93.8 46.4 Year ago ... 65.3 104.5 101.1 44.5 1942 high_ 65.6 103.6 100.6 48.2 1942 low. 60.8 102.6 93.6 41.5 1941 high .... 66.5 105.4 102.2 51.4 1941 low_ 58.3 102.9 98.9 38.0 10 Low Yield Bonds Low yield _112.0 Month ago _l__112.4 Year s*o -*.113.0 1942 high —. 113.1 1942 low _111.7 1941 high .I.I 115.1 1941 low . 112 1 -V CHICAGO LIVESTOCK CHICAGO, May 19.—W—fU. S. Dept. Agr.)—Salable hogs 16.000, total 26.000 ; active, 5-10 lower than Monday’s average on all weights and sows: good and choice 180 330 lbs. 13.85-14.00: ton 14.05: 150 180 lbs. 13.50-90: good 400-550 lb. sows 13.50-75: shippers took 500; holdovers 11.000. Salable cattle 9,000. calves 1.200: fed steers and yearlings steadv to 15 higher: common and medium grades showed full advance on ac tive trade: good and choice grades slow, but fully steady; largelv 12.50-114.25 market: ton 15.65 for average choice 1113 lb. steers; next highest, 15.60- for 1400 lb offerings: little above 14.25: other killing classes fully steadv, ac tive: cows scarce: best heifer' 14.25: numerous loads 11.75-13.25 heavy cutter cows to 9.25: most fa+ cows 9.50-10.85: weighty sausage bulls up to 10.85 and vealers 14.50 15.50 on activev trade: stock cat tle 15-25 lower for week to date: mostlv 12.00-13.50. Salable sheen 3.000, total .4.500: fat lambs 15-25 higher; fat, sheen steady; choice 86 lb. fed who’ lambs 15.40: others 15.00 and 15.10: choice 86 lb. dinners with No. 1 skins 14.50: few decks with No. 2 and No. 3 skins 13.90 and 14.25; bulk fat clipped ewes 6.00 75. -V NEW ORLEANS COTTON NEW ORLEANS. May 19.—UP)— Cotton futures advanced here to day on reDorts of bad weather in some parts of the belt and favor able war news. C'osing prices were steady 4 to 5 points net higher. ODen High Low Close .Tulv _ 19.31 19.40 19.31 19.36 Un 4 Oct. . 19.71 19.83 19.71 19.78 TTn 1 Dec. _ 19.84 19.93 19.83 19.91 Up 3 •Tan. . 19.83b_19.93b Mch. . 19.99 20.07 19.99 20.0fih May _ 20.18 20.18 20.17 20.16b b—Bid. -_V CHICAGO BUTTER CHICAGO, May 19.—(4V-Butter was unchanged today; tone steady. THIS CURIOUS WORLD By William Ferguson COPR. 1W BY NEA SERVICE. INC. T. M. REO. U. S. RAT. ORR. j LAUGHING KINGFISHER. OF AUSTRALIA SERVES AS AN a/aaw czoca/ ABOUT AN HOUR. BEFORE SUNRISE THESE BIRDS SET UP A DIN OF LAUGHING, WHOOPING AND SHOUTING THAT EVEN THE SOUNDEST OF SLEEPERS CANNOT IGNORE. TIMBER / WOLVES OF NORTH AMERICA, UNLIKE THE FEROCIOUS WOLVES OF EUROPEAN COUNTRIES, DO NOT . ATTACK HUMANS. / AIT. WHITNEY IS THE • HIGHEST MOUNTAIN IN I CONTINENTAL. U.S. DO YOU KNOW WHICH IS SECOND HIGHEST • ANSWER: Mount Massive, in Colorado FOREIGN EXCHANGE NEW YORK, May 19. — UP) — Foreign exchange closing rates follow (Great Britain in dollars, others in cents): Canada: Official Canadian Con trol Board rates for U. S. dol lars: Buying 10 per cent premium, selling 11 per cent premium, equiv alent 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 3-8 per cent dis count or 88.62 1-2 U. S. cents. Europe: Great Britain, official (Bankers Foreign Exchange Com mittee rates): Buying $4.02, selling $4.04 open market; cables $4.04; Latin America: Argentina offi cial 29.77; free 23.66; Brazil 6.05; free 5.02n; Mexico 20.67n. (Rates in spot cables unless otherwise indicated.) n-Nominal. _rr RICHMOND LIVESTOCK RICHMOND. Va., May 19.—(TP)— (USDA)—Livestock: Hogs: Steady with Monday. Top 13.35. Good and choice 180-300 lbs. 13.35; 100-120 lbs. 11.85; 120-140 lbs. 12.35; 140 160 lbs. 12.85; 160-180 lbs. 13.15 over 300 lbs.. 13.10. Sows under 350 lbs. 12.60; over 350 lbs. 12.35. Stags 9.35. Cattle: Fully steady on cows and bulls Buik of fat cows 8.50-9.00, some slightly Higher; most can ners around .6.00-7.00. Heavy sau sage hulls mostly 10.00-10.50, odd head higher; common to medium downward from 9.50. Vealers steady to strong. Good and choice mostly 14.00-14.25, odd head higher. Sheep: Few lots good spring lambs 13.00-13.50, best around 14.00 * T dry goods NEW YORK, May 19.—(iP-Busi ness in cotton textiles foday was confined mainly to odds and ends including bag sheetings and print cloths with priority ratings. Mon day’s decline in raw cotton mode the trading basis more attractive for somi mills but business was restricted. Spinners and weavers of wool goods adopted the waiting policy. Price ceilings were a primary con sideration and until the situation clarifies little fresh interest was expected. Rayon textiles were inactive with consumer inquiry slackened and manufacturers absorbed with government orders. 2 -V CHICAGO POTATOES CHICAGO, May 19.— GP— OJ. S. Dept. Agr.)— Potatoes, arrivals 129; on track 228; total US ship ments 750; supplies light, demand slow, market steady; Idaho russet burbanks US No. 1, 3.45 to 70; Maine katahdins 2.75 to 77 1-2; new stock; supplies moderate, de mand slow, market slightly weak er; California long whites US No. 1, 3.35 to 50; Louisiana bliss tri umphs US No. 1, 3.40 to 85. 2 -V SPOT COTTON CHARLOTTE, May 19. — WP) — Spot cotton 20.10. BUSINESS BOOMS, SURVEYREVEALS Increasing Payroll*, Long er Work Week An*l Less Idleness Noted NEW YORK, May In creasing payrolls, more hours of work, declining unemployment and a mammoth backlog of war or ders told the story of America to day in three surveys of the Na tional Industrial Conference Board. Highlights included: Total payrolls of the largest in history in March in 25 plus repre sentative manufacturing industries “Real” weekly earnings of work ers—in effect, purchasing power set a new record In those same industries. Total man hours worked in March were greater than ever before at tained. Unemployment dropped 850,000 pushing the total number of wage earners in the United States to 51,613,000 in March. And: “The conversion problem that lies ahead in the remaining months of this year is as great if not greater, than the changes introduced in industry from Pearl Harbor to date.” Even after allowing for the in creased cost of living, the ooard found earnings and payrolls and hours worked all at record highs, on the average, in such industries as automobile, iron and steel, chemical, furniture, printing, foundry, etc. “Real” wages—7.7 per cent above March, 1941, and 39.1 per cent high er than the average for 1929. Man hours — 20 percent above March, 1941, and 13.8 per cent above the 1929 level. _17 CASH GRAIN CHICAGO, May 19—OB— Wheat No. 1 mixed 1.20-1.20 1-2; No. 2 hard 1.20 1-2. Corn No. 1 yellow 86 1-2-87; No. 2, 85 1-4-87; No. 3, 84 3-4; sample grade yellow 78; No. 1 white 1.00; No. 3, 98 1-2. Oats No. 1 mixed 54 3-4-55; No. 3, 54 1-2; No. 1 white 56 3-4; No. 2, 56-56 3-4; No. 3, 54 1-4-3-4 Barley malting 83-1.03 nominal; feed and screenings 56-65 nominal. Soybeans No. 3 yellow 1.75 3-4. -V N. C. HOGS RALEIGH, May 19.— LB—N. C. D. A.)—Hog prices were 10 cents lower at Rocky Mount today for a $13 top and steady at Richmond at $13.25 top. 2 -V N. C. POULTRY-EGGS RALEIGH, May 19.—(A1)— (N. C. E>. A.)—The Raleigh poultry and egg market was steady today. Eggs, U. S. extras large (clean white) 28 to 29. Colored nens, 17 to 18. 2 RFC WILL LOSE' 320 MILUONS Funds Will Be Lost In Purchasing Of Certain Strategic Materials WASHIGTON, May 19.—UP—Con. gress learned today that the re construction finance corporation ex pects to lose $320,000,000 by pur chasing certain strategic materials and making them available for war production at prices designed to prevent inflation. This estimate of the cost of as sembling partly fabricated mater ials, scrap and certain metals ne cessary for the war program while at the same time preventing a price rise was given to the Senate banking committee by Jesse Jones secretary of commerce. The com mittee made public his testimony which was given in a closed ses sion. Jones asked for legislation which would give the RFC broad powers to buy or sell commodities and make subsidy payments in order to hold down prices and maintain production in businesses where the war had caused an unusual rise in costs. The committee approved the measure last week as part of a bill to increase RFC borrowing power by $5,000,000,000, but with held a report to the Senate pend ing a revision to exclude farm products from the commodities which the RFC might buy and sell. The provisions would express ly authorize sales at a loss. Although Jones said he did not like use of the word “subsidy” in connection with the proposec payments to meet inc*eased costs he acknowledged that the effect was a subsidy. -v_ WPB Authorizes Coffee Increase For This Area The coffee quota in the 'Wil mington area was ordered in creased, effective yesterday, by J. S. Knowlson, director of industry operations of the WPB. In a telegram to the' Greatei Wilmington Chamber of Commerce it was stated that a “population migration study made by our sta tistical department indicates the necessity for an increased coffee quota in the Wilmington area. “Therefore, all roasters and who’esale receivers in that area are hereby authorized to deliver ana receive, effective in May and until further notice, an additional quota amounting to 50 per cent of their regular 1942 monthly quotas as established by coffee order M 135 and supplementary orders. ' This pertains to consumption in the Wilmington area only, it was explained. -V NAVAL STORES SAVANNAH, Ga., May 19.—(tpi— Turpentine, 55 1-4; offerings, 391; sales, 19,550 gallons; receipts, 321; shipments, 525; stocks, 7 305 Ros in: offerings 1332; sales, 410; re ceipts, 906; shipments, 276. stocks, 49,229. Quote: B 2.31; D, 2.53; E, 2.64; F, 2.65; G, .79; H, 2.73; I, 88 3.15; WW and X, 3.31. 2 ____ \7 MIDDLING NEW ORLEANS, May 19.—OF)— The average price of middling 15 16 inch cotton today at 10 desig nated southern spot markets was 1 point highr.i at 19.99 cents a pound; average for the last 30 market days 20.18; middling 7-8 inch average 19.38. Columbus Republicans Meet At Whiteville WHITEVILE, May 19 — Re publicans of Columbus county gathered in the court house here Monday night for their convention. Dr. L. Baggett, chairman of the Republican executive committee presided, and J. A. Maultsby act ed as secretary. The purpose of the meeting was to elect delegates to the state con vention which will be held in Greensboro on May 25 and the convention adopted a resolution whereby all Republicans who find it convenient to attend are auto matically named as delegates. Attendance at the convention was small. The Republicans are not putting out a ticket in Columbus county this year but they will be in the coming primary because of the contest in the U. S. Senate race. 5 Forest Hills Resident Is Injured In Accident Mrs. Joseph T. Altobellis, Forest Hills Drive, was slightly injured yesterday morning when her auto struck a parked car at the inter section of Fifth and Market streets, police revealed. She told police that the force of the impact caused her to strike her head on the windshield of the car, and that she lost consciousness for a few minutes. Slight damage was caused to both cars. 3 Vve index people’s character by ! oking at them. We know that i high, vide forehead is a sign of e ceptionai intelligence. We know thot a long, wide nose denotes posit: <• energy. We know that a jutting cl 1 means perserverance and tenacity. We judge people by their appc ance — and we can judge advert! in much the same way. A good reflects the personality of the fir ' it represents. If it is a really c< ad, it is neither better nor wov than the business organization 1 hind it. Good advertising Is always ’In character." For a cut-rate cloth1 store to run an ad with an air (f elegance about it would be mislp" • ing and ineffective. It wouldn’t fool the people who buy from “ultra” stores and it would scare away f1 " customers who deal with cutrate firms. The headline, Itself, should be a good indication of the character of the advertiser. The illustration of merchandise should be a further in dex of the firm. To whom is the chief copy appeal made? What t/pe of consumer benefits are stressed? Does the advertiser pack and crowd his space, filling every available Inch with hit-or-miss copy, or is the ad orderly in appearance? Is the ad easy to read — or confusing? Most advertisers try to "be them selves’’ in their advertising. The most successful ones make every piece of their copy representative of their firm. You would recognize the advertising of some of your local stores, even if they forgot to carry the firm name in it, because those stores have developed an advertising character or style that identifies and helps to characterize them. h RAPID PACKAGE DELIVERY Between Wilmington and Jacksonville North Carolina * Only Packaged of 150 lbs or lew accepted few Tranaportation V/ FOR FURTHER INFORMATION Wilmington Jacksonville Dial 3311 Dial 322b THE GUMPS__Andy Steps Into A Fast One
Wilmington Morning Star (Wilmington, N.C.)
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May 20, 1942, edition 1
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