Newspapers / Wilmington Morning Star (Wilmington, … / Feb. 25, 1945, edition 1 / Page 16
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EASIER TENDENCIES NOTED IN MARKET Bv VICTOR EUBANK NE7.' YORK, Feb. 24—--?—Easi er tendencies continued in today s stock market after a generally in decisive week. The list got off to a mixed open ing but deal ngs dwindled. Wnile scattered utilities ar.d industrial to- eialties were ahead at the c.ose o', the brief proceedings, losses oi fractions to a point or so were v.-r-i! in the majority at the close. Transfers of 620,090 shares com peted with 700,000 last Saturday. Investment hesitancy again was based mainly on thoughts that Washington was preparing to crack down on speculation. Tte Associated Press 60-stock average was off 2 of a point at e; 4 and on the week was un cranged. It was the third succes s e dip. Of 821 issues appearing, 400 were down, 219 up and 202 all even. New 1944-45 highs were touched by American water works ar.d Pan American Airways. Wright Aero nautical was up 4 1-4 on oddlot tales. Modest pins marks were re tained by American Telephone, Western Union "A,” Consolidated Edison, Public Service of N. J.. Du Pont, Westinghouse, United Aircraft and J. C. Penney. On the offside were U. S. Steel, Bethlehem, Cr.rysier, General Mo tors, Sapta Fe, Pennsylvania, N Y. Central, American Smelting, Calumet Hecla, U. S. Freight, Anaconda, Kennecott, U. S. Rub ber, Douglas Aircraft, Sears Roe buck, Montgomery Ward, Texas Co. and International Harvester. Bonds emulated stocks. In the curb Glen Alden coal edged for ward on a lifted dividend. Advanc ers included Muskogee Co., Niaga ra shares “B” and Atlantic Coast Fisheries. Turnover here was 240, 000 shares versus 340,000 a week ago, \7 DRY GOODS NEW YORK, Feb. 24-Cotton textile business was stalemated this week as traders awaited clarifica tion of the government s new ap parel program to channel more goods into the low and medium priced field. Scattered lots of cotton print cloths, sheetings and bagging goods wera sold for delivery in the first quarter but volume was short ol civilian requirements. Government orders for good dominated deal ings. Demand was brisk for woolens and worsted goods. The latter type was almost unavailable because of the 100 per cent government freeze of worsteds.Small lots of woolens were obtained. There were scarcity of offerings In rayons. | ‘Secret Weapon’ In Iwo Assault The Japs planned their war on the hitherto correct basis that a | fleet could range only so far from its base before having to put back for supplies, fuel, ammunition and repairs. Uncle Sam. crossed them up by creating a vast floating “'base'’ whi«h includes drydocks. float ing cranes, "hotels,” repair ships, bakeries, refrigerated warehouses and other units ar.d employs over 12,000 men. This base extends a fleet s range by thousands of miles. Above is pictured one of the self-propelled floating drydocks which followed the fleet to Iwo Jima. Water is pumped into bulkhead compartments, sinking the dock floor below the surface. Ship needing service floats in, then compressed air empties the water tanks and dock rises, lifting ship high and dry. Stock Market Quotations (BY THE ASSOCIATED PRESS) Adams Exp .. 14V Air Reduction_ 43% Alaska Jun- 7% Alleghany __ 3% A! Chem and Dve_163 Alhs Chal Mfg. 44% Am Can_ 93% Am Car Edy _ 44% Am For Pow- 3% Am Pow ar.d Lt--- 3% Am Rad and St S _ 13% Am Roll Mill . 13% Am Smelt and Ref_ 46% Am Sug Ref _ 39% A T and T . 163% Am Tob B _._ 72% Anaconda - 33 Arm 111 - 3% A T ar.d S F .. 31% ACL _ 00% Atl Ref . 34% Atlas Pow_1.— t>8% Aviat Corp -- 6% Baldwin_ 29% B and O_ 15 Barnsdall _ 23% Benaix Aviat _ 53% Beth Steel _ 71% Boeing Airpl __ 19'A Borden_ 35% Borg Warner _ 40% Briggs Mfg _ 40 Budd Mfg _ 11% Budd Wheel _ 13% Burl Mills _ 46% Bur Add Mach _15% Calumet and Hec _ 7% Can Dry _ 33% Can Pac .. 13% Case J I . S9% Caterpil Trac __ 50% Ches and O .. 53% Chrysler _ 101% Colum G and E _ 5 Coml Credit . 42% Coml Solv _ 17% Comwlth and Sou _ 15-16 Consol Edison _ 26% Cons Vultee _ 21% Con Oil _ 33 Cont Can _ 42% Corn Prod _ 63 Curtiss Wright _ 3% Curtiss Wright A .. 20% Davison Chem _ 13% Del Lack and W _ 9% Doug Aire _ G3 Dow Chem_6_ 132% Du Pont . 163% Eastman Kodak _178 Elec Auto Lt _ 49% Elec Pow and Lt _ 4% Firestone .. _ 58% Freeport Sul ... 36 Gen Elec . 41% Gen Foods __ 41 % Gen Mot _ 67% Gillette . 15% Glidden _ 27% Goodrich _ 53% Goodyear _ 56 Graham Paige _ 7% Gt Nor Rv Pf . 50% Hud Mot'__ 4% 111 Central ... 28 Int Harvest _ 79 Int Nick Can _ 32% Int Tel and Tel .. 23% Johns Man _111% Kennecott. _ 39% Kroger Groc _ 33 Libbv O F G1 _ 53% Lockheed _ 20% Loews _ 77% Lorillard .. 22% Mack Truck _ 52% McCrorv Stores _ 21%. Mo K T _ 3% Mont Ward _ 54% Murray Corp _ 15% Nash Kelv . 17% Nat Biscuit _ 23% Nat Dairy Prod - 28% Nat Dist . 38% Nat Lead -- - 26% Nat Pow and Lt _ 9 N Y Central ..— 23% No Am Aviat _ 10% North Amer - 22% Nor Pac _- 21 Ohio Oil .— 19% Otis Elev - 27% Pac G and E _ 36% Packard - 6% Param Pic - 29% Pennev J C _ 110 Penn-Dix - b% Penn RR - 36% Pepsi Cola _— 24% Phillips Pet _ 49% Pitt Scr and B _ . .. 8% Pub Svc N J . 19% Pullman _ 50% Pure Oil .. __T_ 18% Kamo _ _ 12 Radio K O . 9% Rem Rand _ 2fi% Repub Steel _ 21% Reynolds B _ 93% Sears . __ 104 Shell Un .. . 27% Socony Vac _ 10% Sou Pac _ 42 Sou Ry _ 30 Sperry _ 30% Std Brands _ 31% Std Oil Cal ...— 41% Sid Oil Ind ... 37% Std Oil N J ... 59% Stewart Warner _ 17% Studebakcr _ 23% Swift __—. 34 Tex Co ___ 54 Tex Gulf Prod . 3% Tex Gulf Sul .... 39% Timken Del Ax _ 39 Transamerica _ 11% Trans and West Air _ 20% Union Carbide _ 35 Union Pac _ 123% United Aire _ 31 Unit. Airlines __ 34 United Corp _a_ 1% United Drug _ 17% United Fruit _ 93% Unit, Gas Imp _ 15% U S Indus Chem .. -- 433', U S Pine ..- 40% U S Rubber . 59% TJ S Smelt and Ref_ 53 TT S Steel _ 62% Vanadium _ 2,5% Va Caro Chem _ 4% Warner Piet. _ Ill's West Mary .-. 5% West Union A _ 46% West. FI and Mfg .123% Wilson __ l/ti Wool worth 43% Youngs S and T __ _ 4.5 Approximate final sales, 620,000. CURB Can Marconi .. 2% Cities Service _,_ 19% Colon Ovmt _ 5% El Bond and Sh _ 12 --V N. C. EGGS AND POUT.TRY RALEIGH. Feb. 24.—(41— (NC DA)— Egg and poultry markets steady. Raleigh—U. S. grade A large 35 to 37; hens, all weights, 26. Bond Quotations DOMESTIC ACL 4%s 64 .-.. 105 B and O 4s 46 _1025s Can Pac 4s Perp _101 *4 CB and Q 4ks 77 _11174 C and El Inc 97_ 6674 CGW 4s 88 _ 9514 CRI and P Rfg 4« 34_ 4914 Cl Ut 4’is 77 ..104k Fla EC 5s 74 _ 60 Hud C 5s 62A _ 80 Hud and Man 5s 57_ 33k 111 Cent 4ks 56 _ 83k Int G -N 6s 52 _ 58 MK and T Aj 5s 67 . 85-% Mo PG 4s 75 __ 35 k NYC Rfg 5s 2013 _ 9474 Nor Pac 6s 2047 _105k Penn RR 4ks 65 _123L4 Sal C 6s 45 ___ 56 Sou Pac Rfg 4s 55 _10574 Sou Ry Cn 5s 94.. 130 Sou Ry Gen 4s 56 . 93 k West Md 4s 52 _ 10514 FOREIGN Aust 5s 55 _ 101-4 Aust 4ks 56.II 9714 Braz 6ks 26-57 _ . 83 V. S. GOVERNMENT Treasury 2s 54-52 Dec _ ' 101 27 2^s 71-66 ——::::::: ioi:a! CHICAGO GRAIN CHICAGO, Feb. 24.—(JP)— Grain markets, easy to weak most of the session, rallied in the final half hour of futures trading today and finished with all but barley showing fractional gains. Short covering caused the late upturn with pit traders evening up market positions in preparation for the week-end which may bring important wrar developments. The com market was unsettled and prices moved in a half cent range. Purchases by a broker with cash connections steadied price while most of the offerings came from local traders. Cash handlers reported 250,Oi'O bushels of com bought on a to arrive basis. Country elevater op erators, market sources said, are anxious to sell as much grain as possible before Monday when a new schedule of discounts lor high moisture com becomes ef fective. At the finish wheat was 1-8 *o 3-8 higher than yesterday’s close. May $1.64 1-4-3-8. Com 65 1-2-5-8. Rye was up 1-8 to 3-4, May $1.12 1-2-5-8. Bariev was off 1-8 to 7-8, May $1.07 7-8. Rye lost as much as half a cent at the start but most of the losses soon were recovered. WHEAT Open High Low Close May . 1.63% 1.64% 1.63% 1.64% Jly 1.64% 1.55% 1.54% 1.55% Sep . 1.53% 1.54 1.53 1.53% Dec . 1.53% 1.54 1.53*4 1.53% CORN May . 1.11*4 1.12% 1.11% 1.12% Jly .. 1.10% 1.10% 1.10% 1.0% Sen . 1.08% 1.08% 1.08% 1.08% Dec - 1.06% 1.06% 1.05% 1.06 OATS Mav . 64% 65% 64% 65% Jly .. 60% 61% 60% 61 Sep . 58% 58% 57% 53% Dec 67% 53% 57% 58% RYE May . 1.11% 1.12% 1.11% 1.12% Jly „ 1.09% 1.10% 1.09% 1.10% Sep . 1.07% 1.07% 1.06% 1.07% Dec . 1.07 1.07% 1.07 1.07% BARLEY May . 1.07% 1.07% 1.07% 1.07% Jly .. 1.03% 1.03% 1.02% 1.03% Sep .- - - - -V CHICAGO LIVESTOCK CHICAGO, Feb. 24.—WP)—Sal able cattle 700$- claves none;com pared Friday last weak; Demand generally broad throughout but particularly urgent late, all classes and grades worked higher, choice steers 25 up, medium and good grades 50 higher, with instSftices 75 higher; fed heifers fully 25 high er, cows showed similar advance, in instances 50 on common and medium grades; bulls 50-75 higher; vealers strong; largely fed steer and yearling run; top steers 17.25, next highest price 17.10, moderate supply, choice 16.50 to 17.00; best heifer yearlings 16.50; bulk medium to low-choiced fed steers and yearl ings 14. 25 to 16.2;, with com parable fed heifers mainly 13 25 to 15.75; cutter cows closed at 9.00 down although cutters and common beef cows mixed made 9.25, very few canners below 7.50; bulk beef cows mixed made 9.25, very few canners below 7.50; bulk beef cows 10.00 to 13.00, few beef cows avocc 14.50 although up to 15.00 paid, heavy sausage bulls again reached 13.50 and weighty beef bulls 14.00: vealers 15.50 down; stockers and feeders strong to 25 higher, mostly 11.50 to 13.00, with fleshy feeders to 13.50. STOCKS IN THE S$OTLrAir NEW YORK, Feb. 24—(/P - *aies closing price and net change <,f the fifteen most active stocks today Am Wat Wks 20.200 10% A -V Mo Kan Tex pf 14,400 22% A 2 Calumet and Hec 13,100 7% D % Pan Am Airw 13,000 36% A 1% Cons Vultee 8,800 21 % A 1% Callahan Zinc 8.400 2 A % Packard 8,300 6% No Radio 8.000 12 D % Am Rad Sid San 7,600 13% D % N Y Central* 7.200 23% D % Colum G and K 7.100 5 D % Canad Pac 6,800 13% D % - United Corp 6.100 1% No Grn Elec 6,000 41 % No Mo Kan Tex 5.700 8% A % CHICAGO POTATOES CHICAGO. Feb. 24.—(/PI—Pota toes: arrivals 45, on track 64, total U. S. shipments 853; old stock of ferings very light, demand ex ceeds available track offerings, market strong, very few reported sales; Nebraska Bliss Triumphs, seed Stock $4.60; South Dakota Bliss Triumphs, seed stock 4 05; North Dakota B'liss Triumphs, seed stock, $4.02. ———V NEW ORLEANS COTTON NEW ORLEANS. Feb. 24—UP)— Cotton closing prices were steady 20 cents a bale lower to 15 cents higher. Open High Low Close Mch .. 21.93 21.93 21.93 21.89b up 2 May - 21.95 22.00 21.94 21.99 up 2 Jly .. 21.66 21.72 21.66 21*70 off 1 Oct .. 21.15 21.15 21.10 21.13 off 4 j Dec „ 21.08 21.10 21.05 21.08 off 3 ■ b-bid. 1 Major Section Of Pacific Fleet Involved In Iwo Jima Operations WASHINGTON, Feb. 24. — UP) — Vice Admiral R. S. Edwards, de puty chief of naval operations, said today that the major part of the Pacific fleet is involved in the operations around Iwo Jima. Edwards expressed the opinion that the Japanese would not at tempt to reinforce the island, as serting ''that is something we can’t hope for. “If they would send m trans ports and let us sink them that would be a cheap way of getting rid of Japs,” he added. Such tactics have been so costly to the Japanese heretofore, he said, that “unfortunately they; don't try any more.” Today’s reports here indicate not much change in the Iwo Jima picture. Edwards saio at a neAo conference. Apparently, he said, it had settled down to a “frontal bat. tie and without details being avail able. it is assumed the action is goir® slow awaiting landing of ade quate power to prevent the nec essity of any suicidal actions.'1 The strike at Tokyo last week may have deterred the Japanese navy from coming out to meet American forces and “if it did I am sorry,” he said. He asserted the decision to land on Iwo was made jointly by Gen eral Marshal, Army chief of staff. General Arnold, chief of the air forces, and Fleet Admiral Ernest J. King, the Navy’s commander-in chief. „ . , Asked about damage suffered by American vessels in the Iwo ac tion, Admiral Edwards salt} only that “if we had suffered ail the damage the Japanese claimed we would not be operating out there anymore.” IT_ foreign exchange NEW YORK, Feb. 24.—OP)—Clos ing foreign exchange rates follow (Great Britain in dollars, others in cents): Canadian dollar in New 'York open market 9 3-16 per cent dis count or 90.81 1-4 U. S. cents, un changed. Europe: Great Britain official buying $4.02, selling $4.04. Latin America: Argentina free 24.97 unchanged: Brazil free 5.25N; Mexico 20.65N. N-nominal. -V N. C. HOGS RALEIGH, Feb. 24.—OF)—(NC DA)—Hog markets active and steady at Clinton with top of 14.55. He’s 24-Star Vet -... ...... ^ -r-V--. . .? Just returned from four years) and three months overseas ' duty, Ship’s Cook Frank E. Thorseil, above, of Cleveland, O.. had no time to get the two dozen battle stars he’ll wear on his service rib bons when the photo above was taken. Operating a 40-mm. gun, he was in 24 actions, which included the Aleutians and the Kuriles. Tar awa- the Philippines and Iwo Jima. CASH CHICAGO Feb Xo sales Oats Xo. 4 yellow ; - 5 yellow I.03 • grade yeliov. f-r ley; malting Fi lial; feed F00 bear.s: No. 2 seed per hur.dre Timothy 6 00 to 1 to 16.CK3; red c clover 10 65; g KEW YORK0Rr..C0”W tor. futures closed 1C cT^ ' -Cot. lower to 5 cer.ts -,V-SV" ; * »a!» ,, v °pen High Low Last Men 22 09*"* r - - - 5. May .. 22.00 22 *r *1- - .1 -! Jly ... 2: 66 2’ -» I* " - '.1 oct .. 2* 10 2* *4 '■ - ;• ?S - l Dec .. 21.03 :; 2:.; } :j ;r‘; MIDDLING cotton NEW ORLEANS. Fe: :r_» The average price cl xr. dd r- tT 16 inch cotton a- *e southern spot markets ,<7;;; a bale lower here today j,« cents a pound: average Past 30 market days . Ss '2;« Middling 7-3 inch average 1 •; SPOT cotton” NEW ORLEANS. Feb 24 -r Spot cotton closed steads "7 changed sales 815. Low rr.'dd •-» 17.70: middling 21.45: i;;j S.f dllng 21.85. Receipts 4 =*» t-..'.' 255.234. 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Wilmington Morning Star (Wilmington, N.C.)
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Feb. 25, 1945, edition 1
16
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