Stock Market Advances For Fourth Day In Row Most Prices Changes Range From Fractions lo One Or More Points MARKETS AT A GLANCE NEW YORK, April 23 — (IP)— Stocks — irregular; selected Issuse improve. Bonds — steady: most rails 1 higher. Cotton — irregular: profit taking, mill buying. CHICAGO Wheat — firm: government flour buying. Corn — steady: C'CC buys •ash corn. Oats — steady with other grains. Hogs — 25 to 75 cents lower: top $23.00. Cattle — mostly steady; spots weak to 25 cents lower; top $27.25. NEW YORK. April 23 - WP) - The stock market achieved its fourth successive advance today but only by a narrow marcin af ter recovering from an early dip. The improve ert was sc- ectl- e and many steels, rubbers and rails failed to participate. Most price changes were limited to around a point or less and numerous is sues closed even with the previous day. Bullish enthusiasm dwindled in the face of doubts over the ef fects of recent wage increases on price re’ationships and resulting consumer resistance. Concern over legislation labor and tax matters persisted. A fresh batch of good first quarter earnings and dividend news lent support ta in dividual favorites. Composite Cp The Associated Press 60-Stock Composite was up .1 of a point at 62.3. the first time this year it has climbed for four consecutive ses sions. In one of the narrowest markets of the year only 912 issues registered. Of these 385 advanced and 293 declined. Total transfers of 700.000 shares were the lowest since April 10. Following reports ol lower soao prices, Colgate - Palmolive-Peet closed down 2 points at 43. Proc ter & Gamble at 61 1-2 was off 2 1-8. American Ice common touch ed a new low and closed down 1 at 7 1-4. while its 6 percent non cumulative preferred finished 11 1-2 lower at 59. after directors de ferred dividend action. Other los-; ers on the day included U. S. Steel, General Motors. Republic Steel, Goodrich, Chesapeake it Anaconda, United Carbon, Schen ley. American Tobacco B' and Philip Morris. On a stock split proposal West-* vaco climbed 3 3-8 to close at 39! 7-8. Dividend and earnings news aided Joy Manufacturing and Kayser. Also on the upside were Chrysler, American IVoolen, Texas Co., Standard Oil CN. J.). Santa Fe. Union Pacific, Puilman. East man Kodak, International Harvest er, American Telephone. Public Service of N. J., Air Reduction and Western Union ‘A’. Bonds finished steady. Cotton closed $2.50 to .$4.05 a bale low- 1 ^er. at Chicago wheat was up 3-4 to 2 1-4 cents a bushel, corn un changed to 1 1-4 higher, and oats unchanged to up 1 1-8. Improved in the Curb were United Chemicals. Singer, Amer ican Gas & Electric and American Book. Hecla Mining and Cities Service finished on the offside. Turnover of 240.000 shares here compared with 190.000 Tuesday. STOCK AVERAGES Compiled By The Associated Press April 23— 30 15 15 60 Ind Rails Util Stock Net Change A.2 A.l A.l A.l Wednesday 37.7 31.5 43.0 62 3 Prev Day 87.3 31.4 42.9 62.2 Week Ago 86.1 30.8 42.7 61.4 Month Ago 90.8 34.1 44.6 65.1 Year Ago 107.5 46.4 54.2 79.4 1947 High 94.6 38.5 47.2 69.0 1947 Low 85.3 30.2 42.2 60.7 1946 High 110.4 51.2 55.4 82.4 1946 Low 82.0 30.9 42.5 59.4 i WHAT STOCKS DID NEW YORK, April 23 Wed Tue Advances .. 385 413 Declines . 293 301 Unchanged_ 234 214 Total Issues _ 912 928 GRAIN CHICAGO GRAIN CHICAGO. April 23—f/P>— Moder. ' ate commercial buying gave a steady tone to the grain futures market today, although trading was quiet and the market seemed to be awaiting new developments before making a determined move in either direction. Wheat closed %-2% higher, May $2.58y4-%, corn unchanged to iy4 higher, May $1.73yi, oats unchang ed to lVa higher, May 89-88%, and lard 45 cents to $1.45 a hundred pounds lower, July $21.50. Open High Low Close WHEAT— May 2.57% 2.58% 2.56% 2 58% Jly 2.23 2.25 2.22% 2.25 Sep 2.16 2.17% 2.15% 2.17% Dec 2.13 2.14 2.12% 2.13% CORN May 1.72% 1 <3% 1.71 1.73% Jlv 1.65% 1.65% 1.64%> 1.65% Sep 1.53% 1.54% 1.53% 1.53% Dec 1-42% 1.43% 1.42% 1.42% OATS— May 87% 89 8/% 89 Jlv 81 81% 81% 81% Sep 76% 76% 76 76% Dec 75% 75% 74% 75% BARLEY May--- 160 JlyAR 22.25 22.25 21.10 21 50 Sep 2L75 21.75 2L50 2150 Stt -1^52 18.52 HUO 18:25 CASH GRAIN CHICAGO. April 23- Wheat: none. Corn: No. 2 yellow- 1.78 to 1 78 3-4; No. 3, 1.73 3-4 to 1.77 2 No. 4. 1.67 1-4 to 1.73; No o -4 to 1.63 1-2; sample grade 1.‘4o • Oats- No. 1 mixed 93 3-4: No. 1 white 93 3-4 to 94 1-2; No. 2 heavy white 95 1-2. . Bariev: malting 1.60-1.90 M»u *al; feed 1.30-1.50 nohiinal. Field teed per hundredweight nominal; Red Clover 43.02-47.00: Sweet Clover 11.50-13.00: Red Top 17.50 i« 4n- timothy 7.40-7.75. COTTON k __ NEW YORK COTTON NEW YORK, April 23—(A5)—Cot ton futures declined $2.50 to $4.05 a bale under the previous close in active trading today. The market gained about $1 a bale in early dealings and established new re covery levels, highest since the break in prices last October with May. 1947. delivery selling at 37.09 cents a pound. The advance, how ever touched off heavy profit tak ing and hedge selling by leading spot firms. Factors contributing to the re action wefe price reductions in other fields and the resistance of textile buyers to price levels. There was considerable May liqui. dation prior to first notice day for May contracts on Friday. Futures closed $2.50 to $4.05 a bale lower than the previous close. Open High Low Last May 36.77 37.09 36.12 36.30 off 60 JiyJ 34.67 34.98 33.95 34.85 off 75 Oct 30.10 30.38 29.45 29.61 off 65 l Dec 29.11 29.43 28.59 28.70 off 64 Mch 2*75 28.91 28.05 28.11 off 81 May 28.31 28.31 27.75 27.70b off 50 Middling spot 36.75N off 60. N-Nominal: B-Bid: NEW ORLEANS COTTON NEW ORLEANS,. /,:ril 23—(TP)— Cotton futures closed $2.75 to $3.80 a bale lower. Open High Low Close May 36.63 36.93 35.95 36.03 off 76 Jly 34.62 34.86 33.90 33.93 off 75 Oct 30.09 30.31 29.57 29.65 off 60 Dec 29.13 29.36 28.60 28.66 off 63 Mch 28.71 28.74 28.18 28.18 off 55 NEW ORLEANS MIDDLING NEW ORLEANS. April 23 — (TP) — The average price of mid dling 15-16 inch cotton today at ten designated Southern spot mar kets was $3.55 a bale lower at 35.89 cents a pound; average for the past 30 market days 35.23; middling 7-8 inch average 34.40. NEW ORLEANS SPOTS NEW ORLEANS, April 23—— Spot cotton closed steady $3.75 a bale lower here today. Sales 3, 166, low middling 31.45, middling 35.70, good middling 36.30, receipts 13,135, stocjj 213,669. CHARLOTTE SPOTS CHARLOTTE. April 23 — OP)— Spot cotton 35.00. BOND QUOTATIONS NEW YORK, April 23—(/Pj— AT and SF 4s 95_ _ 131% ACL 4%s 64 _ 108% B and O 4s 48 __ 97% Can Pac 4s Perp -102% CB and Q 4%s 77 . 115 C El Inc 97 ._..32 C GW 4s 88 . ... 85 CRI and P R 4s 34_ 46 Fla E C 5s 74 .. 59% Hud C 5s 62 ... 82 Hud-Man 5s 57 _ 55% Ills-Cent 4%s 66 _ 80 Int G N 6s 52 _ 19 Mo P g 4s 75 _25 NYC Rfg 5s 2013_ 82% Nor and West 4s 96 ... _ 135 Nor Pac 4%s 2047 --.... 96 Penn R R G 4%s 65 . 109% Sou Ry CN 94 ... 126% West Md 4s 52_ 104% FOREIGN BONDS Aust 5s 55- ---- 108 Braz 6%s 26-57 __.. 68% Rio Gr Do Sul 6s 68 ... __36 LOCALQUOTATIONS (Furnished by Allen C. Ewing: & Co.) BID ASKED American Optical 2.30c 43 3-4 44 3-4 ACL of Conn 4.00a 51 3-4 53 3-4 Boston Fund 2.3^1;> 19.66 21.55 Carolina Ins 1.40a 31 33 DeVilbiss 1.00a 18 1-2 19 Gp Sec RR Equip .22b 4.25 4.62 McBee .40a 7 1-2 8 Mass Inv Tr 1.86b 23.98 25.92 National Transit .75a 13 3-4 14 Peo Sav B & T 3.00c 80 — Red Rock Bot (Inc., Ga.) 11 12 Sec Nat Bank .80c 28 — Standard Stoker 3.00c 22 24 Tide Wat Pow Com • 8 8 3-4 Wil Sav & Trust 2.00c 49 — a. Indicated annual dividend rate. b. Income and profits dividends paid in past 12 months. e. Paid in 3946. (The above quotations are nominal and are believed to be indications of the price at which the securities may be purchased or sold). STOCKS IN THE SPOTLIGHT NEW YORK. April 23 - (/P) Sales, closing price and net change of the fifteen most active stocks to day: Scheniey Distil] 16,800 27% D Vs, Am Woolen 10.700 34% A %. Am Tob B 8.400 64 D y2. Clev Elec Ilium 7.400 38% A Vs Greyhound 7.200 30% no. Std G and E $4 Pf 6,400 24% D Vs. Willys Over ,900 9% D ’.4. Packard 6,300 6% A %. Param Piet 6,200 24% no. Gen Tvlot 5,700 57% D %. Sunra; Oil 5,700 9% A %. Comwlth and Sou 5,700 3 no. Am Home Prod 5,500 25 A 1%. Panhand P R 5,400 7% A Vs. United Cor,n 5,200 3% A Vs. FOREIGN EXCHANGE NEW YORK, April 23—(TP)—Clos ing foreign exchange rates follow (Great Britain in dollars, others in cents) : Canadian dollar in New York open market 9 5-8, per cent dis count or 90.37 1-2 U. S. cents, down 1-2 of a cent; Europe: Great Britain $4.02 3-4, unchanged; France (Franc) .84 1-4, unchanged; Sweden (Krona) 27.85, unchanged; Switzerland (Franc) <fom‘l) 23.40, unchanged: Latin America: Argentina Free 24.42, up .02 of a cent; Brazil Free 5.50, unchanged; Mexico 20.62, unchanged. TREND OF STAPLE PRICES NEW YORK, April 23-j-The As sociated Press weighted wholesale price index of 35 commodities to day declined to 173.69. Previous day 174.16, week a8° 174.77, month ago 184,06, year ago 116.93. 1947 1946 1945 1944 High 184.32 169.72 112.81 108.73 Low 164.05 112.02 107.90 106.03 (1926 average equals 100). RALEIGH POULTRY RALEIGH. April 23 - (TP) — (NCDA) — Egg and poultry mar kets steady. U. S. Grade A large 44; iryers and broilers 32. jj Monthly Contracts for Home Building Stock Market Quotations By THE ASSOCIATED PRESS Pre- Yes vious terday Close Close Alleghany _ 3% 3% A1 Chem and Dye ._ 174 173% Allis Chal Mfg .... 34% 34% Amer Can __ 92% 92 Amer Car Fdy- 45% 46 Amer Roll Mill _ 30% 30Vs Amer Smelt and Ref 54 54 ATandT.... 164% 164% Amer Tob B ........ 64% 64 Anaconda _ 37% 37 Arm 111 -... 12% 12 Atlantic Coast Line 50 50% Atlantic Ref -- 33% 32% AviatCorp...- 5% 5% Baldwin - 20% 20% Baltimore and O .. 112 11314 Barnsdall __ 23% 23% Bendix Aviat - 32 32 Beth Stl __ 85 85 Boeing Airp - 18% 18 Borden -- -- 4il % 41 i Budd Mfg . 11% H% Burl Mills —i- 16% 16% Bur Add Mach- 13% 13% Cannon Mills - 58 59 Case J I-- — ?4Y2 Caterpil Trac .. .. 56 56,4 Ches and O - 46 45% Chrysler - 92 92^ Coca Cola .. . 148 , Coml Cred_ 39% 39% Coml Solv - 22 22% Comwlth and Sou .. 3 .3 Consol Edis ... - 26% 27 Cons Vultee - 15% ^ Cont Can -- 39% 39% Corn Prod -- 67 66% Curt Wright . - 5Vb 5 Curt Wright A- 17% 17% Dow Chem- - I56 Doug Aire - 63% Du Pont _ 180% 181% Eastman Kod - 231% 234% Firestone - 53% 52 Gen El ..- 35% 35% Gen Foods --- 41% 41% Gen Mot .— 58% 57% Goodrich_ — 56 % 55 % Goodyear ...- — 53 52% Gt Nor Ry Pf- 40 40 Int Harvest -- 81% 82 Int Tel and Tel- 12% 12 Johns Manv -• HJ l16 Kennecott - 45 44% Ligg and M B ...... Loews _ 215 s 21% Lockheed -- 15% 1° Lorillard .. 18’/4 18 Mont Ward —.- 52% o2% Nash Kelv ..- l6^ ^ Nat Bis —. 29 io 38 Nat Cash Reg- 3814 39 Nat Dist _ 201 s 20 N Y Cent - 15% ^ 2 No Am Av.. — 8's » No Pac ....- l®1'2 18 2 Packard —. 82 Param Pic - 24 4 4 Penney J C - 41% 41% Penn R R . - 20% 20% CHICAGO. April 23—(/P)—<US DA)—Potatoes: arrivals 88, on track 200: total U. S. shipments 995: supplies light; demand lair for white stocks, very good for red stocks; market slightly stronger, Idaho Russet Burbanks $3.80-3.85, washed. $3.60 unwashed; Minneso ta-North Dakota Bliss Triumphs $3.30 washed: new stocks: Texas 50 lb sacks Bliss Triumphs S2.85 2.92 1-2 washed; California 100 lb sacks Long Whites $4.35 washed (all U. S. No. 1). WASHINGTON POULTRY WASHINGTON — U. S. Grads A large 51; broilers 39 to 40, fry ers 37 to 38, roasters 39. DAIRY PRODUCTS CHICAGO,. April 23. — (/P) — Butter steady; receipts 503,550; eggs unsettled; receipts 11,985. CHICAGO BUTTER CHICAGO, April 23—(A1)—(US DA)—Butter steady; AA score 93 58.5; A 92 and B 90, 58-58.25. Eggs steady and unchanged. ARMY N"EEDS PERSONNEL Direct assignment of qualified personnel to the Army s Military intelligence Service in the Far Eastern Command is now open, according to Lt. Charles J. Mar kus, commanding officer of the local Army Recruiting station. Applicants for this assignment must be able to read, write, and speak the Russian or Korean lan guage fluently, he said. All appli cants must enlist for three years in the regular Army. Further in formation may be obtained from the recruiting station in the Wil mington Post Office. The first United States railroad west of the Mississippi began to operate in 1853. IT’S USEFUL! TACKLE BOX | You'll Find It Here! | ANCHOR HARDWARE COMPANY Corner Front and Dock Dial 5043 Pepsi Cola. 26% 26% Phillips Pet _ 51% 52 Pitt S and B_ 814 814 Pullman - 55% 56% Pure Oil _ 24 24 Radio _ 8% 8% Radio K O __ 13 12% Rem Rand .. 29% 29% Repub Stl . 2614 25% Reynolds B _ 38 37% Sears ... 32% - Soc Vac _.... - - Sou Pac _ 37% 38 Sou Ry- 35Vi 35% Std Br - 30% 31 Std Oil N J_ 6614 67 Stewart War__ 16% 16% Swift _ 34% 34% Tex Co- 57 57% Un Carb..__ 97% 98% Unit Airl .. . 27 26% Unit Aire _ 19% 1914 Unit Corp _ 3 3% Unit Drug -- 9% 9% Unit Fruit_.... 48 - Unit Gas Imp_ 4714 47% U S Indus Chem_ 48 47% U S Rubber _ 48% 48% U S Smelt and Ref 44 43% U S Steel _ _ 70% 70% Vanadium _ 16% 17 Va Caro Chem_ 6% 7 Warner Pic _ 14% 14% West Un A_ 18% 19% West El _ 24% 24% Woolworth ... 44% 44% CURB Can Marconi __ ... 1% 1% Cities Service ..._ 27% 2714 Colon Dvmt _ _ 3% El Bond and Sh .... 12 12 COMING YOUR WAY . A . 1 - ... a fleet of fine new Greyhound coaches to bring the travel luxury you’ve been promised Mr. and Mr*. Traveler, the finer transportation we promised you will soon be rolling your way! Coming off the assembly line are gleaming "Si'versides" coaches wfrHi wifi *et a new high in highway travel. ’ " * As Spring merges with Summer, more and more of these new buses will increase the enjoyment of vacation throngs. And Greyhound travelers will enjoy the extra com fort and efficiency of more than 100 new improvements... ranging from wider, heat resistant window panes and increased leg room between seats, to greatly improved air conditioning, diesel-powered motors, and a new, eyepleasing color But thafs not all. Even as these new coaches Join the Greyhound fleet, finer termin als, Post Houses, wayside stations, better service hi every way are being developed. Watch for the new coaches. They are the forerunners of the new high^fy travel pleasure that you want... that you deseree ... that you will have! [ GREYHOUND TERMINAS 120 WALNUT ST. DIAL 2-2481 LIVESTOCK CHICAGO LIVESTOCK CHICAGO, April 23—(/P)—<US DA)— Salable hogs 6,500, total 10, 000: weights under 250 lb now fair ly active and 25-50 cents lower; heavier weights slow and generally 50-75 cents lower; sows 50-75 cents lower; top 23.00 paid freely for 180-230 lb; bulk good and choice 170-250 lb 22.25-23.00; 260-280 lb 21.00- 22.00; 290-330 lbs 19.75-21.00; few lots 330-375 lb 19.25-20 00; most good and choice sows 17.25-17.75 with 17.50 popular price. Salable cattle 13,000, total 13, 300; salable calves 800, total 800; slaughter steers and heifers mod erately active, mostly steady but spots weak to 25 cents lower on good and choice steers; cows slow but steady; bulls unchanged; veal ers strong; top 27.25 for load strictly choice around 1,350 lb steers; bulk good to low^choice steers 22.S3-25.50; common and medium 15.50-21.50; choice heifers 24.00- 24.50; good beef cows 17.00 18.00; canners and cutters 10.50 13.25; most medium weight and heavy bulls 16.00-17.00; practical top choice vealers 23.00. RICHMOND LIVESTOCK RICHMOND, Va., April 23 — (JP) — (USDA)— Livestock: Hogs — supplies heavy; market $1.00 low er than Thursday on all weights; top $19.50 for good and choice 180 240 lb. barrows and gilts; 90-100 lbs -$11.50; 100-120 lbs. $12.50; 120 140 lbs. $14.50; 140-160 lbs. $16.50; 160-180 lbs. $18.50; 240-300 lbs. $18.50; 300 lbs. and up $17.00; good sow$ under 350 lbs. $13.50; 350-500 lbs. $13.00; over 500 lbs. $12.50; good stags $10.50. Cattle — receipts rather light early; few lots cows generally steady, canners and cutters large ly $9.00-11.00; fat dairy type $12. 00-14.00; good beef cows quotable $15.00-16.00; good to choice veal ers about steady, with $22.00 the practical top; odd head cfloice higher. NAVAL STORES SAVANNAH, Ga„ April 23—f^P)— Turpentine 86; offerings none; sales none; receipts none; ship ments 3; stocks 1,475. Rosin, offerings 490; sales 248; receipts 47: shipments none; stocks 860. Quote: B &• D, 8.00; E. 8.75; F, G, H. & I, 9.00; K, M, 9.10; N, WG, WW, & X, 9.25. RAILROAD LIENS ENJOY ADVANCES Gains Of Fractions To Two Points Registered On Bond Market NEW YORK, April 23—(IF)—The bond market today reversed the downward trend of recent sessions and, led by railroad liens, many issfles scored gains of fractions to two points and more. A scattered few remained in the minus column but selling pressure was light. Sales totalled $3,320,000, against $3,240,000 yesterday. St. Louis and Southwestern re funding 5s scored an advance of 4 1-2 to close at 89 1-2, and B. O. 5s were up 2 1-2 at 58. Standard Oil (NJ) 2 3-8s were off 1-4 at 99. Others fractionally lower included Union Pacific 2 7-8s Southern Pacific 4 l-2s, Northern Pacific 4 l-2s and Great Northern Railway 5 l-2s. A T & T Up Parading along with the majori ty for gains of fractions to a point or more were American Telephone & Telepraph 2 3-4s, Denver & Rio Grande 4s, New York Central 4 l-2s, New Haven 4 l-2s, City In vesting 4s and Boston & Maine 4 l-2s. Foreign issues were slow and lower. Among the losers were Peru first 6s off 1-2; Dominican Repub lic 5 l-2s of ’61, off 1 point, and Brazilian 3 3-4s, series 10, down 6 5-8 at 76. Traders, noting that a $10,000, 000 Norwegian 3 1-2 per cent ex ternal loan bond issue was due for public offering, awaited results of this first postwar public sale of foreign bonds. Successful launch ing of the issue, it was believed, would speed offerings of other countries. New Bond Issue Investors had a new issue of $10, 000,000 Northern Natural Gas co. N. C. - VA., HOG MARKETS RALEIGH. April 23 — (JP) - (NCDA)— Hog Markets weaker with tops of 20.00 at Rocky Mount and 19.50 at Greenville and Rich mond. ! 2 1-3 per cent debentures to ab sorb. U. S. government issues were unchanged to fractionally lower in over-the-counter dealings. The 2 l-2s of ’65-70 were off 1-32, the closing bid being 104 12-32. BOND AVERAGES Compiled by The Associated Press APRIL 23— SO 10 10 10 10 Rails Indus Util Fgn Low rid Net change A.2 A.l A.2 D.l A.l Wed 93.7 103.7 105.4 74.6 116.1 Prev day 93.5 103.6 105.2 74.7 116.0 Week ago 93.6 103.6 105.1 75.2 116 2 Month ago 94.7 103.9 105.3 75.9 118.3 Year ago 104.4 103.7 107.5 78.6 119.4 1947 High 97.1 104.2 105.4 76.6 116.5 1947 Low 93.5 103.3 104.0 74.6 115.3 1946 High 106.9 1 05.2 109.5 79.0 120.2 1946 Low 92.0 102.7 103.3 74.4 114 3 REALTY TRANSFERS Thomas James Mitehe’i Lula May Speers, nt 24, city. Pt lot 3, bfej John E. Hines to Star* ter et ux. lot 1, Hines Suk -P' \ Seagate, Harnett townsfi^K D. C. Mathews et i,v i Sloan et ux. tract in B‘J° * I ship on Loop road. ™ett C M. S. Neblett et Ux t Snipes et ux, lot 4 hln„i 0 Q. 1 Shores, Wrightsvilk Bek »4 William F. Ehlers e ach' H. Frady et ux, pt u.u* >0 * 201, city. f 1, bl0tl Dial2-33lT^or~^ggr^ WANTED RETURN LOAD OR PART LOAD From NEW YORK OR VICINITY BY MONDAY APRIL 28TH MURRAY TRANSFER CO. Dial 5462 — 214-216 N. w,t„ Securities for Itiveslttictii Listed and Unlisted | Market Quotations Appraisal, | Statistical Information Inquirie* Invited INSURANCE BUILDING, RALEIGH, N. C. NEW YORK T*Uphan« 2-3711 CHARlom Paul A. Allen, Local Representative Telephone 2-2239

Page Text

This is the computer-generated OCR text representation of this newspaper page. It may be empty, if no text could be automatically recognized. This data is also available in Plain Text and XML formats.

Return to page view