davidaulloa/AmericanStories huggingface dataset:
Evening star., 1948-04-12
Taft Committee Ready
To Take Another Look
AT Bank Credit Curbs
BY the Assoeiotsd Press

The administrators renewed cast
ing for imitation controls got a
nibble in Congress today.
None Of the big fish-like wage
price controls or rationing-appeared
likely to be reeled in.
But the Senate-H House Economic
Committee arranged to take another
look tomorrow at President Tru-
mans long-standing request for
authority to restrict bank credit.
That was part of the 10-point
anti-inflation program which the
President laid before the special
session of Congress last November.
Little Of that plan ever got to first
base.
Bank Credit Decision Put Off.
The Joint Economic Committee
held hearings on the bank credit
section. But it postponed a decision
pending further study.
Now the committee, headed by
Chairman Taft, has decided to con-
duct another round of public
hearings.
Mariner S. Eccles, whom Mr..
Truman recently denoted from
chairman to vice chairman of the
Federal Reserve Board, is scheduled
as the first witness.
When Mr.. Eccles testified on bank
credit at the earlier sessions he
proposed that banks be required to
set up a special reserve" designed
to put the brakes on loans. The
theory was that some of these were
contributing to imitation.
Secretary Of the Treasury Snyder
opposed the Eccles plan without
ever saying why. Later both Mr..
Snyder and Mr.. Truman commend
ed the American Bankers Associa-
ton on its plan for voluntary bank
credit contro. But the President
did not withdraw his request for
legal controls.
Plan Praised by Taft.
Senator Taft, too, has praised
the ABA plan. And he has made
1t clear that his opposition to Gov
ernment controls has not softened.
Other Republican leaders also
still are against granting Mr.. Tru-
man the hold-in-reserve authority
he wants covering the economic
situation. They left no doubt about
that after the Presidents Council
of Economic Advisers made a fresh
plea last week for an imitation con-
troll law on a standby basis.
But Senator OMahoney, Demo-
crat, of Wyoming took sharp issues
with his Republican collegeaues. He
said in a statement to the Joint
Economic Committee, of which he is
a member, that "the gravity of the
international crisis" makes 1t more
important than ever for Congress to
enact the Presidents program i'm
mediately.
"The survival OF democratic insti-
tutions in the world depends abso-
lutely on the success Of the United
States in avoiding an economic up
set," Senator O'Mahoney said.
He called for reappfaisal of the
Presidents recommendations "in
the light of the cold, hard facts be-
fore us and the desire Of the Ameri-
can people to achieve world peace
and a stable economy"
Evening star., 1948-04-12
New York Cotton

NEW YORK. April IL QP.-cotton fu-
lures advanced into new seasonal high
slound In cary dealings today. The
market later lost portion Of the gains
Early gains extended to 1 so Q bale on
aggressive trade covering in the old crop
deliveries. credited to domsttc mill and
mission house replacement demand for de-
ferred deliveries selling at discount. in
fuenced BY the better export prospects
cotton
Alexandria advices stated that the
Egyptian government has imposed an ex-
to 4h cents Ia pound In American cur
rency: Spot cotton markets were Arm.
There was fair amount OF switching
from nearby May into later months,
anticipatins frst notice day April ~
Late afternoon prices were is to 30
q bale higher than the previous close.
May Ma se.e7; July. 1884; and October
Evening star., 1948-04-12
New Yofk Produce

=, NEW YORK. Apsu y oe.-Butssr e
hishsr than 92.score and .premium marks
score score tB. ST. seSss sseseors e. te} sSh tNeS sSv
tubs usually command cent pound
over the bulk carton price.)
Egg prices were Irregular In the whole.
sale market today. Receipts for two days
!.otaied .ins 4o'2s3 cases. Spot quotations
Midwestern. mixed colors - Fancy
hneavyweishts. 51-511a; extra 1 large. 40
80; extra large, 4S; extra l medium, Al;
current receipts, 44-45: dirties, 43K;
Whites-Fancy heavyweishts, 52h-bs;
extra large. 81 81; extra 2 large. 81;
Browns-Fancy heavyweishs, b1-b1k;
extra ! large. 49h so; extra 2 large. IS:
Nearby (these quotations are based on
the bulk of the reported wholesale sales
to iobbers and large retailers and include
55-57; mediums. 50-51;. browns, fancy
1888; mediums, 4S-49
Evening star., 1948-04-12
Teachers Union to Meet
To Discuss Wuae Plans

Local a.. American Federation Of
Teachers, will meet at 8 pm We'd
nesday at the Garnet-Patterson
Junior High School to discuss plans
for pushing a cost-of-living pay
raise for District teachers.
The teachers union also plans to
attend the meeting arranged by the
Central Labor Union for 8:l5 pm.
Thursday at the union hall. 525
New Jersey avenue NV. which will
take up How to Meet the Commu.
mist Menace" Speakers will be
Senator Morse, Republican, Of Ore
gon. and DR.. George 8. Counts Of
Columbia University.
Evening star., 1948-04-12
Chicago Grain

CHICAGO. April 12 GP.-Grain futures
prices were unable to make much head
way today because Of profit-taking sales.
Wheat opened as much As "a cent q
bushel higher. on buying stimulated BY
the announced boost in the Government's 5
wheat export goal. The advance attract
and prices turned downward and stayed
there most Of the session.
session on the announcement that the
price for wheat " cent a Sus6si I'fc to
So :49h, Chicago basis. Trade quieted
ward again.
Corn was weak with wheat. Oats
showed q little more strengah than the
other Grains.
wheat closed ~. to 2 cents lower than
the previous finish, May, 2 4s-2. .4eN
corn was Oh Ia to 9A cents, May. 2. .26N-
Y. and oats were " lower to "a higher;
May, l.15h-A
chicago Cash Market.
ssisst WsasssCNsne Mol assaN SssrsNs0 o.tsaa ysliov
heavy mixed. 1:3s; No. | heavy white,
1.34. Barley nominal; mating. 2.25-40s
feed. 172.27 Soybeans-NonA
Evening star., 1948-04-12

11rles S. J. c. Folser.
Gasnd Of Alex. Brown & Sons OF
Ba14hnore, John A. Coleman of
hlxF. Coleman g. Co.; Harold c.
Mt4er of Bear, Stearns & Co.;
Ro6Hrt L. Stott of Wagner, Stott
&MEo., and T. Jerrold Bryce OF
CHA, Dodge & Co., all of New York
MFsMayer and Mr.. Stott were re-
nominated.
III. Folger was president of the
Investment Bankers Association OF
Arherica for two years during the
wal@ His reelection was an honor
nd&previously accorded any men,
befA His firm has been a member
ofAhe New York Stock Exchange
foE4ears.
ond Sales Support Pledged.
TIE United States Savings and
LoM League is taking part in the
Tr 6ury's bond campaign by dis
tri1 ting posters. pamphlets and
adj tising aids to member and CO.
OPP ative banks.
HHaph M. Smith, president, re-
pom goal of $50, 100000 savings
bottf6 has been set for the $500 loan
asso6iations during the drive. Thrift
and special pleas for future security
viii be stressed during the cam
patsn.
Tie Home Loan Bank Board has
repofted that resources of building
and loan associations climbed 16
percent during 1947 to nearly $12,-
000Oo0, 900. Reserves and undivided
profits rose 10 per cent. Savings ac-
counts gained $1,000, 100000.
Bank Bills Status Reviewed.
Ds j. Needham, general counsel
OF Nhe American Bankers Associa-
tidfs has reviewed at length for
StAte secretaries the status of bills
bet6fe Congress dealing with busi-
neSN loans, home loans and the
future of the RFC.
Ncording to statements by the
Senate Banking and Currency Com
m8fee, activities of the RFC are
Likely to be more restricted in the
future. The committee has stated
thas the RFC should not be in COM
petition with private sources Of
credit.
A one-year extension of Title VI
Of the National Housing Act is pro-
vided in bill passed by the House
md now before the Senate Banking
Committee.
Other bills in committee provide
or establishment of a secondary
larket for home loans, insurance to
over equity capital in rental hous-
lg, and a s10,5o0,o00, 0,0O0 program
Or Federal aid in slum clearance.
Evening star., 1948-04-12


80 so II
FOREIGN 4
Australia IS IS l
Braz6h 26-57st /
Canada 3hs 81 II
Chile 6s 60ssd :
Colombia 3s 70
Costa Rica 7s51
italian lst 3s77
Norway 4ks So
DOMESTIC .
Am&F r $4,000
| Am T&T 234s57 ],
Am T&T 2Ns61 u
Am T&T 2As75 F..
Am T&T 2sssS6 /!
AmTobacco3s62 II
Att Cl 1Sf A 90 II
Balt6sO O5sK20OO
Balt&O Ohio4s75A
Beth stl 2ss 70 f!
Erk q @ 2Ns 76
BufRoch&P57st I
Can Nat 4hs57 ].
Can Pac Is perp
Celotex 3As so
Cent Ga 5s soc
Cent Ga cn5s45
Cent GaIst5s4S
CRR&BG IS AZ
Cn RR NJ 5s 81
| Cn RP Nj Is 81
n
Chi&E ! inc 81
CMStP4 1ss2Ol9
cMEtP4 hs2044
Chi&NW 4hs99
CRIPin4 1as2OIg
CTHS i2s44A94
Chi&W I 4Ks62 j
|CCCStL 4 Ias n
ciev Un Tr 5s73 II
Col & So 41asSO !
Col SOC 3As70 II
Comwl Ed IS II II
ConsEdNY 3s72 II
Cons Ed gas S2 =!
Del & Hud As SO !
Den&S L inc 90 p:
Duo 1t 2As TT !
Erie las 2015 I
Fla = est IS IA !.
GrnB&W deb 3
q MAO 2O44 B [
Hud Coal IS 62a 1
Evening star., 1948-04-12
Odd-Lot Declines

The Securities and Exchange Commits
sion reported today these transactions by
customers with odd-lot dealers or special
lists on the New York Stock Exchange for
April 9: 4.645 purchases involving 141 .234
shares; 5,274 sales involving 14s.163
shares including 53 short ssits involving
For April 10: a,o31 purchases inyolv-
ing 60,265 shares: 2.30l sales involving
64,s14 shares including 81 short sales
involving 1.i17 shares.
Evening star., 1948-04-12
Market AVERAGES
FOREIGN Exchunae

NEW YORK, April IL 0P.-Foreign ex-
change rates follow tGreat Britain in
dollars, others in cents):
Canadian dollar In New York open mar
ket 10 per cent discount or 90 90 United
States cents. unchanged.
Europe-Great Britain 4,03A, un-
changed; France (franc) .32Js of Q cent.
up ,00fs: italy 0iral April fixed rate,
0O1142, March 001745: Sweden fkrona),
27s5, UNCHANGED: Switzerland 6ranc)
tcomD. 23.40, UNCHANGED
Latin America-Argentina free 25 07,
of .02 OF a cent; Brazil. free, $50,
Mexico, 2062, unchanged
Evening star., 1948-04-12
Business Briefs
Zenith Radio Corp. announced

-Till increase its annual dividend
ayment to $l.50 a share from ST..
'ayment will be made April 80 to
holders Of record April 81.
Humble Oil & Refining Co. re-
ported record 1947 net income Of
.i124 4,106 300, equivalent to $3.50 in
come and So in dividends per share.
The figure was 72.79o above 1916.
The company has retained $70,179,-
800 of the profits to help finance
capital investments of $96,134,6O0.
Virginia Electric & Power Co.
called special stockholders meet
ing on May 10 for vote on a plan
to increase authorized first and re-
funding mortgage bonds to $780,
100000 and authorized common
stock to 100000 shares from
100000,
Ford Motor Co. has doubled the
capacity of its paper mill at the
Rouse plant to meet requirements
Of tn 1949 models. The mill makes
panQ board for body interior trim
and other purposes.
Minnesota Mining g. Mfg. Co. is
building new plants at Hastings,
MINI: Corona. Calf, and Bristol,
Pa. and expects them to be in pro-
duction before the end of 1948.
Texas & Pacific Railway Co. re-
ported gross revenues in 1947 set a
new Speacetime high, but operating
costs were the highest in the road S
history.
Bond Stores, Inc, sales for March
totaled ss,102.3 1896, a drop of 1eo from
a year earlier; for three months,
$l8,603, ,315, decrease of .4%6.
Jewel Tea Co. sales in four weeks
ended March 81 totaled $11 ,324,610
q Jump of 2leo from a year earlier;
In 10 weeks ended the same date
s33.687 ,440, an increase of $50.
Pullman, Inc:, earned $6,329, $50 or
s2.3s share in 1947 VS.. $2,6S6,9l9 or
SO cents in the previous year.
Marine Midland Corp. net income
for three months ended March 81
was $1,329 sos or % cents VS.. ST.
1876, ,498 or 81 cents in the same l947
period.
Budd Co. earned S4,086,253 or 81
cents in 1947 VS.. a deficit of $3,979,-
536 In the previous year.
Western Union Telegraph Co. re-
ported net loss of 5000 ,444 in the
first two months of 1948 VS.. net in
come of s423,137 in the same 1947
period.
Famous Players Corp. earned $3,-
15s,446 or $1.81 in 1947 VS.. $2,834 ,95e
or $1.63 in the previous year.
Southland Royalty Co. profit for
1947 was s2,71o,166 or $3.1s vs. ST.
246,901 or Stat in 1916.
Line Material Co. earned $2.276,-
o73 or s4.57 in 1s47 VS.. ss02.241 or
$1.86 in the previous year
Superheater Co. and subsidiaries
had net income of So ,203, ,43s or 50 SIS
in 1947 VS.. S2,282, ,705 or $2.65 in 1916
Dominion Steel & Coal Corp, Ltd.
earned $1,785 ,207 or s1.72 in 1947
VS.. $847, ,034 or 81 cents in the pre-
vious year.
Omnibus Corp. and subsidiaries
had net income of S1,246,414 OF
s1.l6 in 1947 VS.. $1,136,940 or SO
cents N 1916.
1 C. Gilbert Co. earned $728 64e
or $6SS ,n IL months ended Janu-
ary 81 vs.. $50, ,Ta3 or 46 cents In the
previous year.
sstional Tube Co. appointed Ralph
n. Overton assistant vice president
In charge Of operations.
Evening star., 1948-04-12
Congress Seeks More
Control Of Spending
By me A,soeio,ea Pres.

A bill to give Congress more con-
troll over the Government purse
strings by limiting spending in ad-
vance Of appropriations is being
prepared for introduction in the
House.
Representative Reeves, Republic
an, of Missouri said he will intro
duce the bill. 1t would set a limit
on the amount Of expenditures in
any particular fiscal year and re-
quire the President to submit to
Congress a budget within those
limits.
Until 1t Is done the Federal
Evening star., 1948-04-12

kho Aoo0CAA&SU kIcu1.S
IHud&M # SIS 81 61sa
AAlHud&N mss 81 a
.zolI c # 4s So 1ooN
e,xlI c 4sss 66 1854
~ fntGtlsor 6s 50 a.
4 Int @ N 1st6s52 S7h
sibIKan c Sou 4s75 1o2i4
a Ky Cent IS 81 1141S
sxILeh VI 5s2003st ~
aiAlLehVal4fas2003 35lA
8 Leh valAs zoos 32It
MSPSSM As 91- 81
::aolM-K-T IS So A 75l4
z34tNo Pac IS 77P- 7eA
ohIa1o Pac 5s 81 7eyA
AhIMo : Pac gn Is IS 35h
ShIMor&E3izs2000 : So
ohlNat Dairy 2A701ooiA
NEUTRALITY-SUSPICIOUS.
MINYc 4hs2013A 7lla
oAlN 7 c con Is eS 66li
2htNYC&SL3Ass0 e6iA
9stINY Ch&Stl 3sS6 90
3 NYNHinc4las'22 3eDs
lhlNYNH&H As 81 IS
> NYNHH 4s2OO7 6olA
6i1iNYoW rf As 92 e,s
9lzlNYWB 4has 40 Is
7hlNor Pac As 81 los
SizI Penn P&Lt 3s75looLs
; PennRRg4has6s lo4iA
IA PennRRg4Ass1 -
IstI Penn PR As AZ 100
ia ?eoria&Est4s6n 65Ih
; PereMar 3sss So1o11s
Ia Phila Co 44s6l 1864
5AI Phil Pet 2As64 lola
Ia Ruth Can 4s4a 6I4
3 StLSF 41s2022 s.
sAlStLSanFrn4s97 e3h
g StL SW rf 5s 90 90
2 Seab in4las3016 6oA
5A Sea A l. As 95 lcolA
s Sou Pac 4Aas 90 esI1
s So Ry gn As So o2N
4 StdOilNJ2ass71 sAs
2N Third Ave IS so SEA
GA Third Ave As 60 eols
l Un Oil Cal 1867 1o3N
Q UnOilCal2As70 1oozs
shlWest Md As So. seN
Sh West Un IS 81. e7h
eb West Un IS go sola
7h West On 41as so 993A
OF Wise Cent IS 40 6914
OF Wis Cn As 36SD Al
Evening star., 1948-04-12

MIR Of Foiger,
Nlan & Co.
n o bert p.
Bkylan was re-
Nominated as
chairman Of the
bArd. The an
nh al election
Wi be h Ell d
my 10.
Ehe other six
prominent brok-
e& nominated
f4 places on
tMsse hoard of
Goverrprs in
Evening star., 1948-04-12
Is Nominated ,
Ff6overnor Of
NV York Exchange
ey Edword e. Stone

iohn Clifford Folger, well known
: Rshington financier, was among
zen nominated for the Board OF
governors If the New York Stock
3 xchange today. He is senior part
Evening star., 1948-04-12
N. 7. Curb Market
CHANGED FROM PREVioUs CLOSE. 70

Jn = FnEvlOU6 CkOSE.
-" Kaiser-Frazer eih
1h Kirby Pet .2Og. .leih
~ LakeyFdy&MAe ~
2SN Lanston Mon Q 21A
,47sl Leonard Oil Dew "
Lone Star Gas l 2o3k
= Long Island Ltg- "a
q Louis L d e Ia 1914
~ Menasco Mfg 2N
ImiMesabi lron- "a
obl MdSPAvtcl zoe. z2A
y MidWestCor 81 65A
"a Mining Co Can s
5MiMonogram Pict- 3h
lS1el elMountprod sos. 15lA
" Nat Brew B. 31A
u lNatMall r 1.60a 1534
eoatNat Press OK IN ~
MNfagara Hud Pr Ga
x1sl Mona Elec1. goa l5lt
6hNorthropAir Alg IL
MIOOkiep c Ace. 2o,A
90 Pantepec 1.2S-- 1AiA
oNlPennroad .40s 81
s3hl Pa-Dix Gem war 434
1HIPepperell s. 5oA
4Ah Pioneer Gold az
oNI Piper Aircraft 342
SoA APitney-Bow .60a 123k
HaIRaytheon Mfg 7M
II RioGrValG .05e. z
hRotaryElStl Ne. ana
8 St Lawrence Cp- oIz
6lAlSaltDomeO 1hf. pa
1h hSeeCorpGen IA
ehlSesal Lock IA
; Select Indus l.. $50
e1h Shat-Denn .10g. ;
LAhIsolar Aircraft 1914
~ Sonotone 40 3A
MISoss Mfg / - oih
Std oilKy 1.4Oa. 40
IN Std Power & 1t III
1NsI sISterling Inc "a. 63A
5 SunRayDru .o6s 81
y Trans Lux .15e- Sc
@Al lTri-Contl wv IA
IL Unit Airc Prod Az
L6ih,, United Corp WV n
~ Unit Gas We - 1914
Ut Lt&Rys .32e- 1914
ia UtShoeMac 2ha STA
q o Foil B roe 1614
= Ut-Ida hoSu.16s AZ
l3Nivenezuela Petr- ~
& Bond IA
Evening star., 1948-04-12

| Aireon Mfg Co
| Ala ct Sou Gag.
| Alum Co Am 2
! Am Gas g. El lb
| lAmLight&T.56e
Am Marscaibo
Am Republic hg
| Am Superpower.
Anch Post Pr VI
| ArkNGas A zoe
| Ashland OIL L.
| 6ariuu Steel =.
Blue Ridge .40g.
BraS TT Lap q.
Britain Oil l.
BrwnF Dist .S0a
Bnk Hill q 8 1sa
Burma Ltd.
BURY Biscuit.
| CabEl Prod LOG
| Carr Cons Bisc-
| Catalin Am
| Cen&S W Cp 20
| Cities Service q
| Claude Neon -
| Clinch Coal la
| ColSa nd&St 40.
| Colts Mfg lAg-
| coml g. Sou war
| lCopperRangeAg
| CornucupGMin-
| Cosden Petro -
| Creole Pet .90e-
| Croft Brew
| Crown Cent Pet
| CrownDrus .05e
| Det Stl Prod la
Domin Stl&C "a
East Gas&Fuel
FL Bond&Sh Ag
Elliott Co he.
EQUITY Corp -.
Eureka c Ltd
Fairchild Z d A.
FansteelMetKg-
GenPlywood 40
Glen Alden G 2
Glen Distl B 80.
Golddeld Cons.
Hart Ray Corp.
Hecla Min /
Humble OIL Ne
Illinois Zinc 80.
Imp Oil Ltd "a.
Int Petrol ~
Evening star., 1948-04-12

Young g. Rubicam, Inc, named
Everard Meade vice president and
radio department manager.
Evening star., 1948-04-12

hourly Sales on the Exehange Tsday:
1900 am. $40 900 1890 noon $50 ooo
100 pm. 700 600 600 pm $40 600
fUnit Of trading. 10 shares sIn pank-
ruptcy or receivership. o. being reorRanised
under the Bankruptcy Act. or securities
assumed by such companies Rates Of
dividends in the foregoing table are annual
disbursements based on the last quarterly
or semiannual declaration. Unless other
wise noted. special or extra dividends are
not included. Ex dividend. It Ex rigflts
q Also extra or extras b Plus stock divi-
dend. Cash or stock Declared or paid
SO far this year. Payable In stock. esti-
6 Paid last year. b Declared or paid after
stoek Dividend 90 stock split-up.. 3 Ace1m-
ulated dividends paid or declared this year.
. Payable in stock, exact cash value unde.
termtned On Declaration data
Evening star., 1948-04-12
Dividends Announced

NEW YORK, April 12 OP.-piyidends
declsreds today:
Increased,
Pc Stk of Paw
Rate. riod. record able
Zenith Radio 81 so - 4-21 4-3O
Kegular.
as,sys slzviiSs iSs -iSs -esiISss 8 4.ssff s.sso
Evening star., 1948-04-12
Washington Exchange

Garhnckel AM pfd-20 at 21A. s at
Capital Transit Col at l3.
Potomac Elec Pow $50 pfd "A"---53 At
A. 81 at 44h.
Potomac Elec Pow com-l0o at 1914, rs
PUBLIC UTILITY
Evening star., 1948-04-12
|. Y. Bond Market
sEI4crED List OF IssUER

uurnishea - the Assscissed fress.,
80 So - 1o414tHud&M In SIS s7f a
Evening star., 1948-05-09

Board a good push Monday with
the carrier average hitting its best
level since August rs, 1916. Activ-
ity slackened, though, to 1,150,0 900
shares, a 5-hour low since April H..
Increasing rates and income pros
! poets bolstered the transportation
division.
| Trends turned a bit spotty Tues
day on 1850 900 shares with further
cashing of profits restraint. Nov
ing picture stocks weakened fol-
lowing Mondays Supreme Court
ruling on film distribution.
Wednesday the market suffered
its sharpest dip since April 26 on
100000 shares. Strike pessimism
caused the rails to backslide.
There was a revival Thursday on
100000 shares with the railway
contingent In front as the White
House moved to avert a carrier
walkout. Oils also were strong
features.
Leaders extended their advance
Friday on 100000 shares, largest
since April %. 1t also was the
broadest market since that date.
Volume crossed the million mark
for the 34th full session since
last March 18. The utility index
reached a 1948 high. Nickel Plate
Railroad issues, however, nose-dived
on the idea that plans to pay of
arrearages on the senior stock
might mean a shelving Of any pro-
gram for pitalization. General
Motors swung upward on record
first quarter net while dip in
profits for Chrysler depressed this
stock
Evening star., 1948-05-09

tTInit of traGine. bAnKruptcy
ceiverabp or being nized under the Bankruptcy
Act or securities lncd by Sre companies Hauss
nj dividends in the tabe are annual Qls,
bursenients based the last Quarterly or semannua
Unless otherwise noted special or extra
dividends are not included *s5 diyiosnoii oii,ddana ~ a
cash or stock e DECLARED paid far this year
PAYABLE in stock cash value on ex dividend
date paid last year DEE red ra.d after STOCK
Dividend OF stock spuo ktecpmulsted dtv'asncs aes
naid or declared this ZPaysele IN STOCK, e3Aet
cash value undetermined declaration dsA
Evening star., 1948-05-09
Increase Is Reported
In Crude Oil Stocks
By the Associated Press

The Bureau of Mines reported
that stocks of domestic and foreign
crude petroleum totaled 223,159, 900
barrels on May 1, a net increase OF
1,507,OO barrels for the week. Do
mestic crude increased / 1,044 900 bar
rels; foreign crude increased 463,-
900.
Daily average production was s.
413, 900 barrels, decrease of 1000.
Runs to stills averaged $4,000, an
increase of $4,000.
Evening star., 1948-05-09

. Plus extra or sxtras
Evening star., 1948-05-09

FlOur-ReceiptS. G,UIU IUU-pOund saCkN.
Wheat-Receipts. 1876 bushels: ship
ments, 2S0,622 bushels: stocks. 1859
bushels. No. 2 red winter garlicky, spot,
domestic, 249; May, 2.49.
Corn-Receipts, 1919 bushels: ship.
ments, 19,400 bushels: stocks, 245,36o
Oats-Receipts, none; shipments none;
stocks, 1858 bushels. No. white oats
1.45-1 30.
Bariey-Receipts. none; shipments.
none; stocks. 1915 bushels.
Rye-Receipts, none; Shipments 900
bushels: stocks. 39,2OS bushels.
Soybeans-Receipts. none: AhipmenN
none; stocks, 6.34S bushels.
Millfeed-Receipts, none.
Evening star., 1948-05-09
Stocks Gain in Week
But Turn Irregular
In Final Session
By Victor Eubonk
Assoeiofed Press Finoneioi Writer

ASSociofeo FfeSS Ffnonctui Wrlfef
NEW YORK, May 8.-Stocks gen.
orally leaned to the recovery side
during the past week although mar
ket leaders turned a bit irregular
IN today's session.
Throughout the week the threat
ened railway strike clouded senti-
ment at intervals. Hopes for a set
tlement brought intermittent rallies
but, with results still lacking, eau
ton revived in the days specula-
tive and investment operations.
Oils were among the best per-
formers from Monday on as fuel
shortages and the outlook for
mounting petroleum prices spurred
bidding.
Demand, on the whole, still was
credited to the idea that big-scale
Government spending at home and
abroad will prop virtually all lines
of business.
Intermittent f1urries of profit
cashing were attributed to the
thought that the decline of the pre-
ceding week was far from a real
technical correction of the lengthy
upswing.
Assorted rails, utilities and spe-
cial industrials gave good account
of themselves in the final proceed
ings. Dealings were active now and
then and transfers of $4,000 shares
compared with 100000 last Satur-
day. For the six days the total
was 1852, TAO shares against 1885,
315 the week before.
60Stock Average Unchanged.
The Associated Press 60-stock
composite was unchanged on the
day at 68 but for the week was up
g. thus cancelling the drop of the
previous week. The utility index in
the short stretch scored another
new top since last November by a
shade Of 815 issues registering,
1873 rose, 213 fell and 229 did
nothing.
In the concluding two hours highs
for 1948 were touched by st. Louis
Southwestern Railroad, which end
ed up 7 points at 1874 on only 100
shares; Sinclair Oil 11s at 24h, In
dustrial Rayon q at 521a and Celia
nese 3s at 30ss.
Eastern Air Lines, Pan American
AirWays and American Airlines
were up trifle in reflection of the
move for boosted air-mail pay.
Improvement was retained by
Electric Power & Light, Consoli-
dated Edison, North American,
Bethlehem Steel. General Motors
Studebaker, Northern Pacific, Ches-
apeake g. Ohio, Standard Oil New
Jersey, Lockheed, Paramount Pic
lures. Pepsi-Cola and American
Smelling.
Down point or so for the day
were Nickel Plate common and
preferred at 6412 and 1874, respec-
lively; Santa Fe 1851 and Pacific
Western Oil 81. Steels, motors and
rubbers were narrow.
Among Curb gamers were Nor
throp Aircraft. Cities Service,
American Republics. Ashland Oil
and Gray Manufacturing. Turn
over here was 10000 shares versus
10000 week ago.
Purchasing of rails gave the Big