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) 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