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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Dec 10, 1940
Page
12
Closing averages furnished by Dow Jones through E F Hutton with NYSE membership show industrials rails utilities and overall market movement for Monday and Tuesday. Data lists index values for 30 industrials 20 rails 20 utilities and 65 stocks with day to day changes.
New York stock market opened with modest gains but weakened into losses amid thin buying. Trading volume totaled about 600000 shares for the session as war news and year end tax selling weighed on sentiment. Shares such as U S Steel Chrysler Boeing and General Motors showed declines while government securities rose to record levels.
Produce exchange receipts list butter 29600 pounds cheese 7800 pounds eggs 600 cases. Butter in bulk 3544. Candled large eggs 31, large eggs 29, medium eggs 29, small eggs 27.
The firm is expected to report 1940 net profit near $1,200,000 or $4 a share, after federal tax impact. This compares to 1939 earnings of $969,423 or $3.23 a share.
Reflecting stronger employment and consumer power, McCrory Stores Corp expects final quarter profits to exceed 1940 last year’s $2,231,012 net and above $2 per share. December retail trade is forecast to be the best since 1929, with earnings per share likely over $2. The Pennsylvani a Railroad estimates ten month 1940 net income near $26.5 million after taxes versus $19.82 million in 1939.
Briggs Manufacturing Co votes a dividend of 75 cents payable December 24, totaling 2.25 for the year and up from 1.25 in 1939. The previous payment was 50 cents on September 30.
Keen competition among auto product makers presses Motor Products Corp toward a break even quarter, a modest improvement from last year when a net loss of 143,492 was reported.
Exchange rates show several currencies rising versus the U S dollar with Canadian and British rates highlighted. Officials cite open market and cable figures for the British, German, Swiss, Japanese and other currencies, with nominal and free rates noted where applicable.
Grain markets moved higher with December wheat futures reaching 90.5 cents a bushel as delivery tightened. The close rose about 5.5 cents from Monday, while corn and oats firmed modestly amid light trading and overall dull interest. Winnipeg saw deferred positions at seasonal highs.
New York metal prices show tin and quicksilver holding firm while lead zinc and electrolytic spot values remain steady. Copper and other metals show minimal movement with several items unchanged or narrowly ranged across major hubs.
In Silver New York the market shows bar silver at 34 percent with no change. A separate report states that in Northwest China the Chinese now have 2,000 cooperatives with more than 100,000 members.
U S Dept of Agriculture notes salable cattle and hog totals for Kansas City on December 10 with prices. hogs steady to 5 lower, tops around 5 90 for 190 lb plus, sows mostly 5 35 to 5 50, stock pigs up to 5.00. Cattle and calves: total about 5 100 head cattle and 800 calves, feeder and stocker classes slow to steady, good fed steers reported 8 25 to 11 00, some strictly choice heifers around 11 50, yearlings about 10 75. Sheep: around 6 000 salable with slow early sales, slaughter lamb bids about 25 lower, wheat pasture lambs over 8 55.
U S Department of Agriculture cattle and hog prices show slow movement with most sales around steady to weak. Cattle demand softened with fed steers 10.25 and heifers 9.00 to 9.25, odd cows 6.50 to 7.00, canners 3.75 to 5.25, vealers up to 11.50. hogs buyers bid about 10 lower, best 180 to 300 pounds at 5.85 to 5.90, sows 5.00 to 5.40.
U S Department figures indicate salable hogs 30 000 and cattle 7 500 with totals rising to 45 000 hogs and 6 500 sheep. Hogs mostly 10 15 lower than Monday with top at 6 20 and weights 200 320 pounds averaging 6 05 6 20 rustling buyer activity and steady to lower demand. Cattle and calves show broad demand for fleshy well bred weighty steers at 9 00 10 00 with cows down 10 15 and vealers steady on quality. Sheep total 6 500 with fat lambs 10 25 lower and some good western lambs at 9 25 9 40. market dull to moderately active thereafter.
Hogs salable 150 steady with few good to choice 180-200 lbs at 6.85-7.00, top 7.00. Cattle salable 900 mostly stockers, slow but steady. odd medium fed steers 8.25-9.00, cows 6.00-7.00, canners 4.00-5.75, yearling stockers 8.65. Calves 600 steady. vealers to 11.50, common calves 7.50-8.90, some 9.50. Sheep none. lambs 9.25-9.50 potential.
In New York trading, cotton futures moved within a four point range as dull textile demand and a quiet spot market kept turnover light. Values finished 1 to 3 points lower with Last-December at 10.16-17 and nearby months at 10.07 to 10.20 depending on contract, Middling spot at 10.37.
In Boston today activity in wool trading was light with buyers waiting for government contract awards. Bids opened last week sparked some interest in fine wools while civilian demand remained sparse.
Mary Jo sephine Wonsetler aged 2 found 40 cents in a dresser drawer and swallowed a quarter. She then swallowed a dime as her parents rushed in and later gulped the remaining nickel before her father took her to a hospital.
Sgt Melvin Krider of the U S Marine recruiting station donned his overcoat and raised an arm. Traffic stopped as he crossed the street, then he grinned and waved the motorists on, enjoying a brief police parody.
Brazil announces a new Thaximum rate of 7 percent on all rural financing. The policy targets farmers and agricultural lenders, aiming to standardize borrowing costs and stabilize credit terms across rural sectors.
Margaret S Westfield recalls a December 9 1899 retreat of Highlanders under Boer fire near dawn. A rifle misfire triggered alarm, Captain Wochop fell, the piper played, and troops fled in panic. The author notes humor in kilts and shares verses from 41 years prior.
Schedules show European news on KVOA at 11 45 a m and 5 15 p m KTUC at 1 45 4 45 and 6 55 p m State network news on KVOA at 7 30 9 45 a m 12 noon 5 30 9 15 10 30 p m and KTUC at 6 45 7 8 11 a m 12 30 7 30 9 11 p m
A poem recounts a Highland lad shedding kilts to run from danger during a Boer War setting. It weaves loyalties to Scotland and Ireland with references to clan names and ancestral battles, ending with notes on Kitchener Roberts and White born in Ireland.
Missionaries in Honolulu report Edna Lawrence of Riverside California, an American nurse, has been freed after nearly a month held on a Communist charge. She was removed from the President Pearce liner by Japanese police when a former patient accused her. the patient later retracted the charge and Lawrence awaits passage home from Kobe.
The Arizona supreme court ruled that Mexican divorces are invalid when the goal is a decree without the other spouse's knowledge. Divorces from Mexico or foreign countries are valid if personal service is made or the defendant appears. The ruling affirmed a Maricopa county case over Thomas C. Nolan and Honora M. Nolan.
Dr Lint us Paulding of the California Institute of Technology argues that true blue blood exists only in lobsters, snails and oysters, defeating the notion of aristocratic bloodlines.
The Citizen questions Joseph P Kennedy’s stance urging Britain to lay down arms and the United States to stop aiding democratic defense. It contrasts this with harsh wartime measures in Germany and asks whether US interests or Irish sentiments shape policy, noting Gaelic as Eire’s official language.
The page lists businesses and services including bicycle and lawn mower repairs by Hubbard's Greenhouses and Ingham & Ingham, plant offerings and flowers, Thrifty Furniture Exchange, ranunculus plants, desert spoons, laundry route job, auto pickup service, rental and sale listings for a 3 room house, a new five room brick home for $4000 by Solot Realty, and Rialto Apartments. It also advertises a court site and Maytag trade, plus various household items and services with contact details.
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