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Market Declines Sharply On GOP Victory Reports industrials Lead Active List In Losses Of One Or More Points MARKETS at a glance VEH YORK, Nov. 6—(CP)— Stocks — lower; selling; frase opening geins. Bonds — lower; rails de cline. Cotton — weak; commission jj0Use and New Orleans liquid ation. CHICAGO Wheat — broke 5 cents, to the limit; commission house selling. Corn — sharply lower; cash prices down. Oats — wide decline with other grains. Hogs — generally steady; top $23.50. XEW YORK, Nov. 6 — {/Pi _ The widest break in stock prices in nearly two months was the mar ket's response Wednesday to the Republican election landslide. Loss es ranged from one to around 7 points. “Selling on the good news” is an old Wall street custom, and when an opening rally failed to de velop. waves of offerings quickly wiped oat initial gains. Renewed liquidation in the final hour put the Exchange's high-speed ticker br floor transactions for a few m'-v es. Industrials bore the brunt of the downturn. _ The Associated Press 60-Stock Composite declined 2.4 points to 62.8. its sharpest since Sept. 9. Of 1.051 issues registering, 831 declined and 122 advanced. Total transfers were 2,000,000 shares, highest since Oct. 15, com pared with 1.830.000 on Monday. Brokers said the G. O. P. Con gressional gains, welcome in tra d: tonally conservative financial circles, had largely been discount ed in recent market sessions, while analysts saw little in the returns io indicate immediate brightening of he labor outlook or to offset pre dictors of some business recession next year. Taking of profits on the theory the market decline had not run its course also was a factor. Coca Cola Declines Wide downswings were encounter ed by Cola Cola, off 7 at 140 du Pont, 6% at 173, Chrysler, 5% at 81%, Goodrich, 4% at 62%, and Union Carbide, 4 at 90. Other prominent losers included U. S. Steel, down 3% at 70%; Gen eral Motors, off 3Vs at 50%; U. S. Gypsum, 4 at 106, and Santa Fe, American Telephone, Bethlehem’ Youngstown Sheet, U. S. Rubber, Montgomery . Ward, Caterpillar Tractor, North American, Electric Power and Light, Commonwealth and Southern, United Corp., Amer ican Water Works, American Smelting, Air Reduction, Eastman Kodak, Phillip Morris, Phelps Dodge, Standard Oil (N.J.), Ches apeake and Ohio and Southern Railway. » Commodities plunge d with stocks. All cotton deliveries fell the allowable daily limit of $10 a bale. Wheat futures dropped the limit of 5 cents a bushel at Chica go, corn was .off 3% to 4 cents and oats 2 to 334 lower. On the offside in the Curb were Cities Service, Middle West Corp., Electric Bond and Share, Raytheon, Aireon, Niagara Hudson Power and Arium Steel. Turnovers here was 590,000 shares against 560,000 Mon day. STOCK AVERAGES Compiled by The Asosciated Press, Nov.6. 30 15 15 60 Indus Rails Util Stocks Net changeD2.9 D2.1 D1.5 D2.4 Wednesday 86.0 34.4 43.9 62.8 Prev day 88.9 36.5 45.4 65.2 Week .ago 83.0 33.3 43.0 60.8 Month ago 82.0 30.9 42.5 59.4 Year ago 93.8 47.1 52.02 75.0 1946 High 110.4 52.2 55.4 82.4 1945 Low 78.6 32.9 39.2 57.8 1945 High 102.0 48.9 52.5 77.1 194 5Low 78.6 32.9 39.2 57.8 WHAT STOCKS DID NEW YORK, Nov. 6 — m — Wed Mon Advances .. 122 615 Declines . 813 255 Unchanged . 98 170 Total issues . 1051 1040 Stock Market Quotations By THE ASSOCIATED PRESS , Prev- Yester ious day Close Close Alleghany . 4% 4% AlChemandDye ... 163% 162 Allis Chai Mfg . .. 35% 33% American Can _ 87% 85% American Car Fdy . 50 46 American Roll Mill - 35% 33% Amer Smelt and Ref . 52% 49 A T and T -.... 168% 164% American Tobacco B. 82 80% An conda - 39% 37% Arm 111 - - 13% 12 Atlantic Coast Line ._ 52% 49 A antic Refinery .. 36% 34 Aviation Corporation. 7% 7% Baldwin - ...... 21% 20 Baltimore and Ohio . 15% 14 Earnsdall . 24% 23 Vs Eendix Aviat - 33% 30% Beth Steel - 95% 93% Boe rtg Airp _ 22 21 Borden . 49 47% B"°'d Mfg .. 13 ‘11% B«rl Mills _ 18% 17% B'Jr Add Mach ... 15Vs 15 Cannon Mills . 57% 57 Cjre J I. 37% 38% C-lerpi! T'r c .. 61% 58 Cites and Clro .. 53% 51% C'rys’e- . 87 81% C " Cola .147 140 [ Cred .. ... 42% 39% C ml Colv . . .. 21% ' 20% C-tmv'fh and South .. 4 3% Bor-er.’ Ed is . _ 29% 27% Cl"s v' Bee .. 18% 18 t;'n! Can .. 38% 37Vs Com '’rod . .. 69 67% Bun Wright _ 6% 6% B' rt Wristht A . 19% 19% “’•v C't°in _ 165% 163 P°l” Ai-c . 81 76% “,J Po it . 179% 173 Vts man Rod _ 221% 215% Ei'cstone .. 60% 58% B-r El .. 37% 36% Foods _ 46Vs 42% p Mot .. 53% 50% A oodrich .. 67% 62% ...':'ear _ 60 57% lMU^egal -n Wilmington. North Caro 0/ p o’clock noon on the 9th day j» ,a^bc-;-. 1946. the property conveyed beinc‘7 mor*":'-.ee the same lying and ’ the City of Wilmington. Coun 6ro’:.;€w Hanover, and State of North k H ,anc* more particularly describ iO)lov;c: H*vj in the e: stern line of ly ',**!. at a point 99 feet southward llne*‘f . ine intersection of the, eastern n{ Vonct '1 street with the southern line !y street: runs thence eastward ‘hf-C i,e with Wooster street 100 feet; stree* s°uth'hardly, parallel with 12th Pa-aiipi .... fpet; thence westwardly the Wooster street 100 feet to P°"hvarai? l re °* 12th street; thence 12‘h ctror.y .alonS Hie eastern line of ginn|«- r‘ “3 feet to the point of be in Blnoir vme-being p~rt of Lot No> ?* P’a-i re 5f?- according to the official cv " ity of Wilmingtoq, North 19(6. le<1 ’liis s,h day of November. FREDERICK WILLETTS, ~~——Mortgagee. Havino exFCUTRIX NOTICE estatn l, Juniified as Executrix of toe of No,,, ‘ary N. Miller, deceased, late this ,ln°ver county, North Carolina, tlaiij,. notify all persons having to ejshixff1?,51 thc estate of said deceased flea , ‘ tnem dli!y itemized and veri er t,e[ 1 We undersigned at 1901 Market or in. * ;he 2nd day of October 1947, Stree* w*ll °e plead in bar of th(:r 'rern,mmgton* North Carolina, on sai<l est=t'ery,', AI1 Persons indebted to ts>nieiit * W pIease mrke immediate T,’ls the 2nd day of Octi. >er 1M. ! MARGARET W. NASH Executrix, Estate of *ARY W. MILLER Gt Nor Ry Pf-... 50% 46% Int Harvest . 73% 7Hi Int Tel and Tel. 17% 16% Johns Mahv .. 128% 127% Kennecott .. 4614 44% Ligg and MB _ 96% 94 Loews ... 28% 26% Lockheed ... 24% 22% Lorillard . 22% 22 Mont Ward .. 68% 64% NashKelv _ 15% 14% Nat Bis .. 29% 29 Nat Cash Reg ..33 Nat Dist . 23% 22% N Y Cent .. 17% 15% No Am Av ....- 11% 11% No Pac _ 21% 19% Packard . 7 6% Param Pic .. 30% 28% Penney J C ___ 48 45% Penn R R __ 28% 27 Pepsi Cola . 28 26% Phlilips Pet .- 57 56% Pitt S and B .. 8% 8 Pullman ____ 55 51% Pure Oil .. 22% 21% Radio .. 11 10 Radio K O - 17 16% Rem Rand . 4014 38% Repub Stl ... — - 26% Reynolds B . 40% 39 Sears ... ...-- — 41 38% Soc Vac ... ... 14 Sou Pac . 45% 4234 Sou Ry •••-- 38% 38% Std-Br .-. 38% 37% Std Oil N J . 69 67 Stewart War ....... 16%' 15% Swift _—.- 35% 33% Tex Co _-. 58% 53% Un Carb .. 9414 90 Unit Airl -- 25% 23 Unit Rlrc . 20% 19% Unit Coro .. 434 3% Unit Drug ..— - lu% Unit Fruit . 48 47 Unit Gas Imp - 23% 22% U S Indus Chem .... 45% 40% U S Rubber - 57% 54% U S Smelt and Ref — 44% 42% U S Steel . 74% 70% Vanadium .— • 21% 19% Va Caro Chem .- 7 6% Warner Pic --... 19 17% West Un A --- 22% 20% West El .. 25% 23% Woolworth . 50% 48% CURB C = n Marconi . . * 2% Cities Service . 23% Colon Dvmt - 3% El Bond and Share - 15% trend of staple prices NEW YORK, Nov. 6 — The As sociated Press weighted wholesale price index of 35 commodities Wednesday declined to 155.09. Previous day 157.01, week ago 154.56, month ago 146.43, year ago 111.89. 1946 1945 1944 1943 High 158.73 112.81 108.73 107.54 Low 112.02 107.90 106.03 103.43 (1926 average euals 100. CHICAGO BUTTER CHICAGO, Nov. 6—(JP)—(USDA) —Butter firm; AA 93-score 79; A 92—78; B 90—77-77.25; C 89—74.5. Eggs fully steady; large No. 1 and 2 extra* 49^47.5; naadium • extras 30—41; standards ;J»-9—40; current receipts 36.5—38; dirtias 26.5—29; checks 26—28. Cattle Raiser Pays Debt with Steers 1 1918 1928 N33 1939 1948 Many 1,000 Lb. Steers ft Would Teke to Pay a $500 Debt on October IS of Each Year. (Based Upon Prices •f Chicago Stock Yards) COTTON NEW YORK COTTON NEW YORK, Nov. 6—(A>)—All cot ton futures deliveries declined the daily permissable limit of $10 a! bale Wednesday under heavy liqui dation which appeared shortly af ter the mid-session. The Republican election victory bringing a Congress possibly less favorably inclined to various price raising plans which had been pro posed for cotton in the past was blamed by the brokers for the de cline. It was also felt that the de control program wall be futher speeded up as a result of the election. The market experienced a short lived rally in early dealings when mill buying advanted prices about $20 a bale to levels near Monday’s close. Private crop estimates, anticipat ing the next government cotton crop report on November, 'indicat ed it will show little change from the October forecast of 8,724,000 bales. Futures closed $10 a bale low er than the previous close. Open High Low Last Dec 31.70 31.82 29.83 29.83 off 200 Mch 31.14 31.43 29.46 29.46 off 200 May 30.70 31.12 29.13 29.13a off 200 Jly ’ 29.72 30.03 28.07 28.07a off 200 Oct 26.83 27.00 25.09 25.09a off 200 Dec 26.35 26.60 24.60 24.60 off 200 March, (1948.1_ 25.85 25.85 24.24 24.24a off 200 Middling spot 3048n off 210. N—Nominal; A—Asked. NEW ORLEANS COTTON NEW ORLEANS, Nov. 6 — (A3) — Cotton futures declined the full $10 a bale limit here Wednesday. Open High Low Close Dec 31.79 31.79 29.85 29.85a off 200 Men 31.30 21.36 29.47 29.47a off 200 May 30.92 31.02 29.02 29.02 off 200 Jly 29.90 29,936 27.96 27.69a off 200 Oct 26.90 26.95 25.01 25.01 off 200 NEW ORLEANS SPOTS NEW ORLEANS, Nov. 6 — (^P) — Spot cotton closed steady, $10 a bale lower. Sales 1,420. Low middling 24.40, middling 29.80, good mid dling 30.20. Receipts none. Stock 216,566. i_ NEW ORLEANS MIDDLING NEW ORLEANS, Nov. 6—(A3)— The average price of 15-16 inch cotton Wednesday at ten desig nated southern spot markets was $10 a bale lower at 29.82 cents a pound; average for the past 30 market days 35.90; middling 7-8 ihch average 28.26. CHARLOTTE SPOTS CHARLOTTE, Nov. 6—(A3)—Spot cotton; 29.60.__ __ „ ___ BOND QUOTATIONS NEW YORK, Nov. 6 — (JP) _ A T and S F 4s 95 . .. 128V4 ACL 4%s 64 . 103% B and O 4s 48 __ 94% C and E I Inc 97___ 41 % C G W 4s 88 . 85 C R I and P 4s 34________ 45 Fla E C 5s 74 . ... 67 Hud C 5s 62 . 72 Hud Man 5s 57 ____ 60 Ills Cent 4%s 66 .. 78V4 Int G N 6s 52 . . N. 20 L and N 3%s 2003 .. 106 M K and T AJ 5s 67 . 72% Mo P G 4s 75 __ 28% N Y C R Rfg 5s 2013 .* 84% Nor and West 4s 96 --- 132 Nor Pac 4%s 2047 .. 95% Sou Ry Gen 6s 56 .. 112% Sou Ry Cn 5s 94 .. 120 West Md 4s 52 . .... 105% FOREIGN BONDS Aust 5s 55 ... 109% Aust 4%s 56 __ . ... 102 Bra 6%s 26-57 __ 70 NAVAL STORES SAVANNAH, Ga., Nov. 6—(JP)— Turpentine 1.05; offerings and sales, none: receipts 98; shipments 251; stocks 3,575. Rosin; offerings and sales, none; receipts 565; shipments none, stocks 14,432. Quote: unchanged since Tuesday. GRAIN CHICAGO GRAIN CHICAGO , Nov. 6 — (JP) —Wheat plunged as much as 5 cents the daily limit, and all other grains worked sharply lower Wednesday under presistent liquidation. Much of the selling came from commis sion houses with eastern connec tions and was associated with limit declines in cotton and low er security prices. Final prices were at the bottom. All wheat contracts were off 5 cents, January $2.04 1-4, corn was down 3 3-8—4 1-4, January $1.31 1-4—3-8, and oats were off 2 1-2—3 3-4, November 82 1-4—1-2. Open High Low Close WHEAT— Jan 2.08% 2.08% 2.04% 2.04% Mar 2.02 2.02 1.96% 1.96% May 1.94% 1.94% 1.90 1.90 CORN— Jan 1.35% 1.35% 1.31 1.31% Mar 1.32% 1.32% 1.28% 1.28% May 1.30% 1.30% 1.26% 1.26% OATS— Nov 85% 85 Vi 82% 82% Dec 7814 78% 76 76% Mar 71% 71% 67% 68 May 68 68 64% 65 BARLEY— Nov-• --1.31 Nov 1.33% 1.33% 1.32 1.32 LARD— Jly 24.50 24.50 24.50 24.50 Sep —— -- 24.50 CASH GRAIN CHICAGO, Nov. 6—(IP)—Wheat: none. Corn: No. 4 yellow $1.34 1-4 1.38 3-4; No. 5 yellow $1.25 1-4 to 1.31 1-4; sample grade yellow 91 3-4-$1.24. Oats: No. 1 mixed 89 1-2 90 1-4; No. 3 mixed 88; No. 1 heavy white 91-92; No. l white 89 Barley: malting $1.61-1.70; feed 1-2 to 90 1-2; No. 3 white 88 1-2, $1.33-1.40 (both nominal). Field seed per hundred-weight nominal: Red clover $38.00-42.00; sweet clover $11.50-13.00; Timothy $7.00 7.50. STOCKS IN THE SPOTLIGHT NEW YORK, Nov. 6 — (IP) — Sales, closing price and net change of the 15 most active stocks Wednesday: _ Comwlth and Sou 77,600 3%-%. Unit Corp 36,500 3%-%. Packard 34,700 6%-%. Std G and E PF 29,000 2814-2%. Am Pow and Lt 25,400 13%-1%. Am Wat Wks 22,700 15%-2. Colum Gas and El 20,100 9y4-l. Radio 19,400 10-1. Am Roll Mill 19,400 33%-2%. Curtis-Wright 19,100 6% up %. Balt and Ohio 19,000 14-1%. Am Airlines 18,400 1014-1%. U S Steel 18,000 70%-3%. Repub Stl 17,700 26=4-1%. Gen Mot 17,700 50%-3%. CHICAGO POTATOES CHICAGO, Nov. 6—(JP)—(USDA) —Potatoes: arrivals 60; on track 249; total U. S. shipments 828; supplies moderate; for Idaho Rus sets, demand moderate, markel slightly stronger for best quality; for offerings other sections, de mand 'slow, market about steady; Idaho Russet Burbanks $3.00-3.10; Colorado Red Me Clures $2.75-2.90; Millnesota-North Dakota Cobblers $1.85, Bliss Triumphs $2.25-2.35 washed, $1.85 - 2.10 unwashed, Pontiacs $2.20 washed; Nebraska Bliss Triumphs $2.50-2.75 (All U. S No. 1 quality); Wisconsin Chip pewas fair quality $2.00; Minne sota-North Dakota Cobblers com mercial $1.70. N. C. HOG MARKETS RALEIGH, Nov. 6—(iP)-(NCDA) —Hog markets about steady to steady, with tops of 23.50 at Rocky Mount and Clinton-Warsaw and 23.00 at Richmond. RALEIGH POULTRY RALEIGH, Nov. 6—(A5)— (NCDA) —Poultry and egg markets steady to weak. U. S. Grade AA, large, 61; fryers and broilers 36 to 38. ADDITIONAL MARKETS ON PAGE 12 Secu rides fo r Investment Listed and Unlisted . Market Quotations Appraisals INVESTMENTS | Statistical Information Inquiries Invited KIRCHOFER & ARNOLD ’ INSURANCE BUILDING, RALEIGH, N. C. NEW YORK_Telephone 30711 CHARLOTTE Paul A. Allen, Local Representative Telephone 2-2239 BOOTS AND HER BUDDIES - ■ OPINIONS DIFFER 7 • - - - * SH-HHi X'H MOT t ~X'tA HOW CRM WE WHEE'tETEXAS, RMV HRPPVER !>. .: v^Xl. BUT X'V\ SXEEP *>\T>\ HfcWfc Wfc CO^fc*. r:5 _ L , I DO\N»«S> RU_ THAT ,— ■ .■ ■. ~-v^'-•■ ' % TJiS.N. n^^WHNKMl THE E.EET FUSE T ! vou *«* i i_Hi ^ can> * „_r- . :». ( Mm qu\^tT| ok, pipe oowh : i'o I RSYtHtR. YA-bTOi To TKt ¥40 TWW> NOU :i OLO e>\ODItS 1 ftw DW \ \***mZr l.tiiQea^i255-KrJiSA_SEPivicE. inc. t. m..hep,. & jk .pat WASH TUBBS- STRATEGY GOSH*. VIE CAN’T X KEEPOUfO’ HIS_SfGHt; WASH/.A (■HHHVA’hENTU ^ELlAMJCHO THA?T CTWi'S COWHM’ BETTER START THSTUTTLE ^ GET UP THERE TO \AND HELP ME GET THIS THUG H ji&Zm wE'RE LEAVING... AND HE’LL AJO HOW. EAST? ‘ CHORE OF HIS, WASH.-WHILE X | HELPER. ORION, EASV I ___jdSfliA WATCH THE TRAIL FAR K10H BORROW A FEW THINGS FROM J ...AH MOCHO WllL KILL jHA WM TO SEE THAT ALL FIVE HIS PAL WHO WASN’T SO UICKV!. HIM IF WE DON’T ^ GASOLINE ALLEY- GOOD DEED FOR TODAY this IS YOUR | ANP HERE IS '\ CONGRATULATE \ 'iOU HAVE NO IPEA T I'JUST THINK, SKEEZIY, | WE’RE GOING B ! CHECK> YOUR WARRANTY |vOU BOTH. YOU’LL j HOW THRILLEP WE THE AMOUNT OF 70 PAY IT I , WOOPCOCK-1 PEEP. THE ARE, MR. WOOPCOCK;/ MONEY WE’RE /BACK, NINA, | CERTIFIEP. PLACE IS YOURS CARRYING IN IF IT TAKES' H YOUR FOCKET.y US 2S YEARS J DR. BOBBS- By ELLIOTT and MsARDLE THE GUMPS- HE’S A GROWING BOY Z—-„ ____ ~~ LOOK AT THESE GROCERY YGREAT GRIEF/ )1 W MV SMIRT/ IT'S .THAT SHIRT'S . \ -— -- -■> BILLS/ ANYONE'P THINK II THINKI HEAR ~ RIPPED ALL UP BEEN IF IT WASN'T THAT | HERE, MAW—THIS I'M PEEPING AN ARMY— OLD-TIMER THE BACK-AND THE PRE-SHRUNK I WANT TO SEE THE / PIE'LL TIDE U'S IT'D BE CHEAPER TO /COMING WITH BUTTONS ARE READY — STRANGE RESULT OF MY [ OVER TILL PINNER- BUY THE FOOD IN /THAT MISERABLE TO SNAP OFF —^ RHEUMATISM CURE l I SNATCHED IT WHILE WHOLESALE LOTS—^ MEDICINE , BLAST THAT LAUNDRY , ON ANDY—I'D PACK \ MISS AMERICA HAD AGAIN/ J SHRINKING ALL UP AND HEAD HOME \HER BACKTURNEO . ^-rrr< MY THINGS— BEFORE STARVATi0N ) ^ -i-MBl I '' ORPHAN ANNIE_ ALL THAT MATTERS mHHMHHHH rtf"" NO, FRED-f can 1 T SHE just took off fred-T free and ^ W EASY FRED-''^ SO DID SNIDE SORREL,^ V READ TRACKS-SHES I NO TELLING WHERE - BUT / HAPPY! YES. | I ANNIE QGT 'CEPT FOR A FEW CUTS- I B BEEN SCARED, BUT I WHEREVER SHE IS. SHELL J UNCLE HANK- R I AWAr CLEAN- BUT IF ANNIES BEEN Jk NOT HURT- I BE FREE AND HAPPY- f THATS ALL g J HURT- BBlIhi I THATS THE MAIN THING-I THAT MATTERS- B OUT OUR WAY By J. R. WILLIAMS f CAN’T 1 TRUST YOU \ TO DO ONE SINGLE ] THING ? YE GODS, 1 I DON’T WANT IT J \ IN THE EGGS/ r"Sv OUR BOARDING HOUSE With MAJOR HOOPLE . //_£ CTPwiU*am«, 1 BORKJ THIRTY VEAR.S TCP SOOM frn \a7e re| gf* AFRAiDl w barter' y <smvt i 1 impressed!
Wilmington Morning Star (Wilmington, N.C.)
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Nov. 7, 1946, edition 1
11
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