Show 22 Friday Morning- $l)t Salt £akc £ribunc- - - -- July 12 1940 Steel and Aircraft Stocks Fail to Follow Through on Early Rally 7V News Is Aid to List Stoek Prices STOCKS Sulfa iales I' Alien A Alils-- or more' points tor These were- chipped favorite! down to minor amounts in most case at thP close and small minus signs were fairly well distributed The forenoon pickup in volume' put the turnover al V&Xin shares compared with 282140 Wednes2 would push defense spending spread excess profits taxes to all lines and not just armaments makers and permit munitions manufacturers to write off peexpansion costs over a In addition a move was riod reported to repeal profits limitation imposed on government aircraft and ship building contracts rap-Idl- y Buyer Wary Traders while feeling a hit belter Mbkers said still inclined to kefp buying ammunition dry pend- ing outcome of next week's national Democratic convention and possible new European war shifts Business news on the whole was moderately encouraging with stppl operations maintaining a high rate motor sales holding well and building construction put- stripping that of last year by a large percentage Rails motors utilities coppers and oils however never got out of a narrow trail at Douglas Aircraft was up 2 the finish Lesser advances were retained by U S Sleel United Aircraft Glenn Martin Ixickheed N Y Shipbuilding J C Penney American Telephone and ("elanese Airline Dips American Airlines lost 2'i and V & H 11 If Am 4 A A 'In pf A MHtinida Arm III 6 50 I 751 26 ION ' Torn aa Aviat I'll — H— t I'aid h nil in l:r:iJHl4JL Beei'h-P Bfnd Avt Hen A Cn strol R'f Airil company's flotation mill at the Ophir Hill tailings dump in Tooele county will finish the tailings in two or three weeks The 400000-to- n dump has been handled at the rate of 600 tons a day since the mill started operating near the first of December 1938 concentrates were shipped to Tooele for smelting The company has no plans for fu- Copper-lea- ture d employment of the mill mm 1111 X7 1 27 7(11 :in ' ' IS' Whl 10 IM R'i 17i ' — — H A Mrh Cal Her Phc (Viae CYi 1 I 2fi 2fi m) 11 2"'i 22 " I A coi a A Cum CreitlK Cun Sou Cnmw A 8' a Conpnl ('nil Atri r Con I'np M 'nu F'ltsoni Cuil Ail' "' nr I iM" pft rurtlas-do A — 11 — Deere A C" d" prdN Pel A lltl'l Ilial Corp Hume Mine :io in ' '2 11 W I '' M 4 I SI 1'j 67 li! i 'i I inI' 11' (ill 2 i i j rs ' Tri us loK h't ' ' 11 :ii 30i 3l 2' 2' 11 'il 1 : 4 2' 41' 2 ol 4 2 12-- Hl(t !' 4 lv 12: 1 2 2 14 li I 't I '4 I o 2 21 r II 'v IIH Stel1 2SA 21 8:i 82 82 Hy W A Condor Gold Minjng company KKetine has made its first shipment of con Kreste Cop1 S S S H centrates fromiits propertv in thei Kres Kmc Cror district of Lemhi —I— Yellowjacket county Idaho since resuming op- Iarnl'erl Iehm Corp' erations in May The mill is han- I O K Claa Ih MrNAI dling 60 tons of pre daily iic A m rr MK T 11 5' 2 ' Cup' Carhn1 tiM-kAir Ioew'a lnc Ini IlM- lone St Ce Louli A N —M— Mack Trksl Mary Co Mapih Kill Ma Hln Co' MrCrun- St' Mrliftv Porl Mensel ?) ni' pfd Mesta Mrhi Prti' Mid Stl Pr' wir Parific' dn pld Mom chm' Mont Wrd Mot Whl Mur Corp N — Kel ' Na' Pia uit' 2 1 3 2 2 1 3 7 3 2 33 37 ' 9S IS ij 14 14 24 tj 1 24' 21 '' V'i " I'Ji 23S 2 201 2M 2M 70 14 28 c 1 4 14 no :t 4 1 ((' ' '' ' a 5'4l 51 SI 14 ' 23 US ' 11 '4 2 1'nlt Caa 12'' 12 10 11 :" I Al pi lj 3 l ' M 17 v 'a ' ' 't 2't 't ' ' W ' M t i - ' 1' '1 M UH't IS 17 14 1 H 1 IOH 101 1(I3 104 lllli Mine Shares Hold Level ' l(lVj 5't 521 s 5H 53'4 - 2 15 3 n II I US'HtH'j 71 21117 O'l ' 10 07' k'l" 71 20 15 90 110 u 52 I 801 71 20' 99 1 10 'V 60 40' ins 25 53 52 22 4SIJ 17 48'- s 104 1 ' s lot 03 ' 93 93 4 42 10'1't 103" 1031 4 3 106-- 9615 10(1 101 10v8106'4 Oti'j 96 '7 tlifn 100' 101 6 68 I? 66 67 68 65' 2) 1II6' 1II5H 4 1 to: 101i 68 j 68 1054 BCNIfS SlOOO'i l 12 36 14 21 2 6 5 9 2 4 4 1 15 111 82 21 23I- - 2dU 45 21 19 87 12 12' 36 5 25 I V 4 v 131 21 lj 25'' 26 16'l V V 86"' 1311 21 10 32 Viy 291- 11 511 13 45 16-- 17 21 n 81 10' U 36 2K 39'! 1! 39' 17 2 13 39' ' 82 10 25'-- i 26 l4 45 " Turnover shares against was 8100 about 12 600 Wednesday 31 'i salt's TOnrsila 550 pre "lis ilJIV St 'tiKilUHi sl'h rinsed Mar alio $3135500 luo vears aco Sti 077 300 January l to dale Ssso 003 ear at" SS782 66475 350 two years Co J'J IR I 4 I ISO 10-Mon- t ia 131' li 'I ' 14 a 5'4 2 15 'n B i Rails Star in Bond Market 11 3c 23 t Air L Phoenix Ser Tei him olor Pnlted Cas 1 61 I 2 2 2 6 ' v 72 '2 6 1' 2 14 5 V m 1 2 9 Utah P A L pfd Western Air Exp w rignt MarR 7 S 74 64 12 61 72 5 ' 74 64 3 32 6 ' 72 'a in 22 2"1 ' 'c v' 2 1 161 ifii 9' US the afternoon early The drop had been expected due Cash Quotations to the July 4 holiday API — Cash wheat CHICACO Inly u No Prominent on the rise were Den- — No 2 red 7314 ft 7?ic garlickymixed 77 grade ver and Rio Grande Western 4s at 72 1 hard No mixed sample 76c mixed J5 Southern Pacific 4'vs at 4nCom No 4'c No 1 yei-65 ft 66 r low Northern Pacific 4s at 67" Oats No 3 mixed 32 'r: sample grade 9'' ' 67 1 4 4 31 31 914 ' 6 9 2 n 'c 4' s i Oata— 5 4 2 nil Kl 2 No 3 No 2 while 34 ' 30i 5s at 16 Ros-tomixed 34c sample Kradc 31c 65 Hudand Maine 5s of t nominal: 4S'j5-2Maltinp Barley son and Manhattan refunding 5s feed 35'o 43c tuimiiiitl No 3 Sinrieans No 2 yellow 82 and Erie 5s at V at 82 Klsewhere modest gains were posted for International Telephone Range of Leading Futures Close Low High 5s Olu Commonwealth Kdison I'-Wheal- American and Foreign Power 5s lult $ 741-- $ 741 $ 7314 $ 7314 74 73' 75' 7V4 Porto Rican American Tobacco 6s Sept H 76i-LVc 75' 76' and Studebaker 6s Western Union Corn — 61Vt 61 61 s4 61' 's July 5s pushed up 3 points to 68 58 59 58 'n 58) Sept 55 55 Dec 54' 55' 1 41 661 Si 9' 11 66 i2 00M' m- 01 03 r-93 4 02 0114 3 00 04 20 36 ' 02 ' 15 35 Oil' 61 ' (15 05 5 ' 50 00 05 03 3 '1 4! 1 0 05 20 ! ' ' 004 02 01 00 00"4! 10 2 60 Standard Chief Idaho Sub com Toledo ' ' Con 12 624 004 noi 25 8 00 1 OS 06 02 63 ' ' VVIlhert 014 2 oot' 001 1174 40 Con CHICAGO Julv 11 (APUSDAI- - Salable hogs 11000 total 17000: market 15c to mostly 25c higher than active Wednesday's average top $6 90 bulk good and choice 180 to 270 pounds $650 V 6 85 270 to 300 pound butchers $6 25' 650 mostly $635 300 lo 380 pounds aterage $6 00 '06 35: 160 lo ISO pound 86 00 'o 6 75 lichls most good packing sows 360 $5 50 (ff 5 90 pounds down smooth 400 to 500 pounds $50017 5 50 Salable sheep 20Q0 tolal 5000: lale Wednesday's spring lambs 25c to 40c lower: sorted natives $1025 bulk around $10 00 best Idahns sorted 1(1 per cent $1015 others $1000 with Washington sorted around 25 per cent $10 0(1: outs tn at $8 75 ff 9 (10 feeders $9 0(1 mostly Today's trade: Early sales best supplies spring lambs around 25c lower: fHirly well sorted natives $10 00: others without sorts around $0 75: throwout natives $7 50'n 8 25 fat sheep mostly steady: few Itcht nHllte ewes $3 75: bulk offerings $2 25'n 3 00 i aimers $175 down Salable cattle 3000 calves 1000: fed steers and yearlings fairly active strong to 15c higher lhati Wednesday's average: al! interests in trade fed heifers sharing cows slow steady grassy steer advance kind very dull but dry lot weighty cows scarce and active all steers and vealers stronger selling up to $1050 rather freelv: fed s'eers 81150 scleral loads $10 60 '" 25: 1 fed steers at outside price shorl fed $10 25 down and grassy $9 75 down 10 $7 50 with Inofferings 02 004 '05 60 004' 03 01 03 oi 4 02 'c s 41 3A4 Julv Sept Lendable Reserves Of Banks Climb pec 30 H Oct 2!H 71 73 82 73 73 731 73H 451 44 28' 20 H 7:1' Soy Beans July WASHINGTON July 11 UPi-- The Dec — T federal reserve board said JulvRy 45 Thursday lendable excess reserves Sept 47 Dec of ebank's increased $20000000 to Lird — Julv a new record high of $6830000000 6 00 Sept 6 10 Oit in the week ended July 10 R 25 Deo The increase as in past weeks Jan Bellies — was caused primarily bv treasury July purchases of foreign gold Sept 30 30 on 29 30 28' 20 S - 28V4i ' 42' 44i 85 6 00 40 50 5 30 30 Refining Fuel Supply i Ulah Southern Oil Oil Mountain 8 S L Bank 42 00 SS 5(1 !l02 00 Oaring debits $2 173442 00 Wednesday's ha-i156 00 Same day year atro Thutsilat's bank clearings ? 45461 6 04 Same div tear 275079430 ago Investment Companies Asked Bid Fund I"C 28 65 10 02 00 2 2 2 Rus Shra American Can Inv Fund Corpora le Trust do A A do AA m"d Dnnlcpd Shrs Kurd li t estnrs lnc Co Am Keystone Custodn do n 3 do 4 do Mart land Fund Wide Sec N'illnt do t ot Quarterly lnc Shrs 2 2 31 OS 14 02 93 1 OS '16 21 13 10 6 23 2 02 2 05 14 6 3 4 3 18 R 00 25 1 7 1! 65 38 86 30 05 13 15 Produee Markets BUTTER lb First quality aweet First quality lb Second quality lb Net prices f 32'4 3J Vf re discount) EGOS ' specials dox Large Large white extras doz Medium white extras doz CHEESE Full cream triplets lb lb Full cream longhorns: Full cream undwich loaf lb Triplets western cured lb Full cream longhorni western cured lb Wisconsin cured lb Longhorns mounting One prominent copper producer has reportedly well advanred plans for a tin smelter adjacent to one of its eastern copper refineries thaf would handle Bolivian tin ore See Importance The reported 5000 tons of ore this smelter would be capable of handling would indeed be small in comparison with the country's annual requirements of finished tin Nevertheless advocates placed importance on it as a straw in the wind indicating industrial management was awakening to the necessity of planning for any eventuality af- fecting essential raw materials The world's largest tin ore sources are in the British Malaya states and in the Dutch East Indies Bolivia is the principal other known source of tin 'ore with small amounts available in Siam Nigeria and the Belgian Congo A to medium cowa $5 50 6 60 few head held higher: canners and cutters $4 00'q 5 25: odd hulls $6 50 7 50 Sheep - Salable 50 few shorn lambs snd yearlings unsold good choice wooled lambs quoted lo $9 75 KANSAS f'lTV Julv 11 (APUSDAI— and salable 2000 mostly Hogs Tolal 15c to 25c higher than Wednesday's aver-ag- e lop $665 good to choice 18(1 to 6 65: 260 to 315 250 pounds $6 50 pounds $111047 6 45 140 to 170 pounds S5'60'ii 6 50: sows $510 4 5 50 a few $5 60: stock pics scarce Cattle— Tolal 2300 snlable 2000 calves total 450 salable 40(1 modera'e supply of steers meeting fairly aclive inquiry at prices mostly steady with Wednesdav: several loads (tood 1023 to 1113 pound fed steers $10 4041050: good averages $9 35: aeveral loads grass steers $840 '0 8 5o around 28 ran of grassers on sale butcher yearlings and heifers about steady cow stuff dull and fairly sieadv: bulls firm: top sausage bulls up lo $n85 tealers arllve and 25c to 50c higher good and choice largely $850 ai i9 50: stockers and feeders In light supply: few medium grade stockers $785 lltock calves $925 ft 10 25 Sheep — Total and salable 3000- - very Illlle done: scattered opening sales native Springers steady to 25c lower at $950 down Colorados held higher 10 15 24 9(1 7 3 )l 10 49 2 2 3 half-doze- n 5 NEW YORK July 11 (API— National Association of Securities Dealers Inc furnish the following bid ind isked quola-tions- : Affiliated 30V4 2 24 22 17 171 18 Snar Market Decline of national income from P0MKST1C BONDS 19H 4 41 10 Hi 5 87 NEW YORK 1939 peak of $7582000000 last Julv 11 (APi— Diverse in (Sales $10001 OS ttu no 6 02 6 6 1t: 't istv 21 price movements occurred In sugarfutnres 11' 6 10 October to $5449000000 in March 15 6 12 Am PL 6s 2016 28 IOH' 90 'i 1(10 23 Thursday as operations were dominated 6 27 27 25 Cities1 Sert 3s 66 10 80 Va Kll 23 hy liquidation and covering for the trade Daisies Wisconsin cured lb 81113 was halted by an upturn in April 6 35 and speculators CtK 5s 5SA1 12 91 's Pl' 91 H to $5464000000 and a further ex- 00000(1 against $25427000000 in Cont We-World conl racts eased 2' to 3 '4 points a 5 vii in 77 83 81 M NEW YORK July U (API— Butter-Rec6 55 3 67 t 67 ij 67 Htgrade F 6s49A' 924538 pounds: unsettled: cream- as liquidation revealed trsde covering on 7 00 pansion in May to $5726 000 000 the 1939 period I 5s 56 0 of raws had dried up sales P 1 Vt 25 104 27 c: llll lot Beptember ery t528 i higher than extra st 98" and March at 1 04 Net- Cil Kl 5s 56 11 711 71 according to Alexander Hamilton :i Mtra 92 acore tubs 27ff27lc rarloni traded Domestic futures were sieadv snd N Kng CAK 5s 50 7 l 8I 91 scores 10 64 88 61' tubs firsts Institute For the first five months 26sJ27c: MmneapoHs Iron Ak" Mc7lne finds encour2 to 5s 55 Pac P 20 04 :ns 94 points higher around and rartnni 25' 026c second! 84 to A P — Wheat MINNKAPOIIS Julv 11 of 1940 income totaled $28308- - agement in the way new iron and Phil Kl P 5' as 72 5 113C4 U2l-- ll2'i Metals anil Money Switching from near hv to 24 ar 25c 87 scores ThursdHv Hrs 62 fortvard positions was active compared PAL at I'tah smelters as withReceipts Settlement Cheese— 141163 prices steel orders are being received in Pugft 811940 a 174 Receipts The pounds: raw baals ago market was quiet trading 0 PS U 97 'a (JS't Offerings by Ihe American Smell int and lower Cash: steady prices unchanged uuotationf 2"i5(1 ranged from 2 70 cents a pound upward I)' d" 02 ' 021 0M4 reported Lend are 500c a No spite of the fact that national deiimiianv Iti'fini'ig c dark 77 heat y imrlhern was dark Refined 15128 4 Eggs— cises easier: 6s 2025A 112 112 unchanged at the local basis 112 IkiiiiiiI cupper cathode 10733c I pound No No fense orders have not yet been SKPI 3 No 2 imrtherii 76'sC Pacific coast white eggs- Jumbo and pre- of 45(1 cents 75'c S Cal Kd 3 6(1' 2 lis '4 108 '4 Km 72' iix 74 Tc fancy No 1 hard Montana miums 29Vi31c ipeclala 28 '1 29c 2 1)7 97 V- 97 NKW YORK July 11 (API— Bar allter 7B'rsc placed and that the principal sup- tt PAI 6s 2022Al Minnesota and a4iuth Dakota No standarda 26'4& 26c mediums Position of — at Unchanged 3 dark hard winter 74 7s ii 7574c 34c hard 24 © 25c Tolal slock sales Thursday 141000 ports of steel mills— automotive attares: Treasury No 1 red durum 44V4t7 BusinesH and amber 69v4c 132180 ago year LONDON Julv 11 (API — Bar illver— durum 67c building construction and railroad WASHINGTON Total' bond sales Thunday $1100 000 cmCAOO: Jury U (API — Butter— Re July 11 (API — The Off id al 21 39 56c of the treasury July 9: -- are t ratlequivalent No 3 Com position industries less teel 574 yellow year 1235030 $1964000 pounds steady igo ceipts Men price! taking Professional based on dollar st $4 031 Receipts in bills' up t4c qilotlttnns !c tower $9516172 97: expenditures uncnangen Par gild — Unchanged it lttSi (equivathan in normal times $20620808 46: net balance $1784634-0933Oata -- No 3 white 29H30Hc 1939 Cadillac-Buil- t La Salle ' Egge — Receipt! 15622 cases: steady lent $3385) -balance Included $1058-01working Parley 3550r prlcea unchanged V-- 8 56430: Customs recelpti for month Rye- - Nn 2 434 Sedan 45c NKW YORK July 11 (AP)— Copper— Exchange Live poultry — Recetpti 1 car 52 ftucki: for fiscal year Trade activity in the Salt Lake Foreign —No $905867732: Receipts Kin $162 Herf li th outitandltiK motor car NEW"TORK" July 1 1 f API —Cont easier: noni 5" bounds and under 15ic: (July 1) $125133805 50: expenditures Steady: electrolytic ipot Connecticut vil 8wee't clover iced — No quotation! area in April was 61 per cent buy of the year A luxurious auto11 50c 10 87H T pounds up colored 19c in wide fluctuation! In thin market ley excess of expenditures export f a i $32989534410: Plymouth fiprlngl mobile that can hardly be told from British 7V the New free York 1135© 11 40c cent! rocxi 21c white rocks 21 'c: under 4 $204:561538 60: gross debt $43062775-88dropped greater than the same month last In term! of the pound nw: flnlthed In that attractlv rear-bdollir Thunday Tin — ind 59: decrease under previous pounds Plymouth rocks 19c: turkeys bent Winnipeg day ipot Folkutona fray color: white Deilera aild the iharp decline ippirent-l- 51 6214c Study: year Dun & Bradstreet reported forwird 5037 He 14c: other prices unchanged 1478 61521: fold assetsi $20156068-136811 4AP) — Wheat fu WINNIPEG tires a de luxe radio and July little had because the rate New York 5 00 9 ture! held significance ipot minimum heater tvtry modern conventcne it Thursday price! for iomi time has been susceptible to sud505c: East St Iouli 4 85c LOi ANGELES July 11 ( AP) — Produce known la on thli car It runt like a wheat No northern 71 He: on den swings Zinc— Steady: East St Louis ipot ind NoCish appearance of bid! or No 3 e3Hc oiti No 3 exchange receipt!: watch: It lookt Ilk new: It carrlea 2 forward 6 25c - offen our unconditional guarantee: c Atwhite 31 at net Potato Market 4 Cheese — Unchanged Average copper priea The open mirket rite of the Canadian r Pig Iron ihimtnum intjmonv And it's a bargain during to the sterling quoli-tioButter t97700 pound! cheese 85200 Chinese Wolframite latic seaboard refineries (atfbujt dollar went counter CHICAGO Julv 11 (APOSDA)— Potaind platinum U P centa cent to 85 62 rising toes— Arrivals 153 on track 310 domestic scheelite total pounds: egga none unchanged our GREAT ANNIVER225 cent under Connecticut ValThe £wiaa franc eased slightly United Stages' shipments 889: supplies Butter— 92 irore 29ir 91 score 27c Wool Futures SARY SALE AT $995 moderate demsnd light: for California declined during the week end90 score 26 Mk 89 icore 2B'ic ley) NEW YORK Julv 11 (API — Wool top e Onr (laaalfled Ada — Visit Our !on Whites U 8 No 1250: Idaho Cotton ed Wednesday to 10610 cents a Rubber Eggs — Candled clean extras 25c: canfutures declined under presiure from spot $1 97 H tr Bliss Triumphs IT 8 No IM for 100 Additional Bartalns died clean canNKW YORK large standarda 20 11 NKW YORK July 11 (API The houses ind commission (API—Crude houses July 2 05' Vlrrlnla Cobblers U 8 No 1 81 50 liquidation 10788 cents with pound compared dled clean medium standard! 19c canrubber futures closed unchanged to 10 futures- marfcet scored moderate ad10 lo 24 points lower Fred A Carlesoh Inc Lonlslst 'closing Triumphs tv 8 D160 dled clean small extras 15r December t arcee Thursday the previous week Kngin'eenhg higher 88 2 December September 1005 moving In company with Julv 910 bid October No 1 $ 50: Missouri Cobblers fair to Wan 1414 8 20 847 o Main a firmer trend at Bombay and literjiool 3 hid 86 colored over Friers and Kansas 3' Poultry $l good l0fl130 Mi'n'ne and quality Journal said Thursday Smoked rihl'l o( ?o 75 nominal 10 8c Middling spot up to "4 '4 pounds (sir quality f 1104 113 it nnminal a pot itand'ird topi 975 the 1 R 1 1 111 474 46t 46 eipts j 51-j- 41-- 1 I I ATTENTION 'i explored shadow is cast over the Bolivian supply because jt has to be sent to England for smelting During the last World war lack heiface to 775 p'iiliid medium paid goon ers $7 35' good cows scarce quoted $6 35 of shipping and other factors con- (u 6 85 cows package range nected with the conflict so hamMl 2V few need cotvs $560ti575: bulls nominally $600 U'fl 75 pered the continuity of American 700Salable Sheep mostly steady (0 supplies of the metal that two ims'ront: four decks medium to good wixiled lambs $8 5(li 8 60 choice constructed portant companies absent decks quiited up to $9 00 three ' smelters These companies Nashorn lambs $8 00: deck shorn medium Nevada yearlings $600: shorn tional Lead company and Amerewes mostly $1 00 '0 300 few $350 ican Smelling and Refining com— IOS ANCFIFS Julv 11 Salable supply 200: fully steady pany continued business in tin Hogs Ca'llop $7 85 on few choice until 1024-2when uninfnrnias small lots medium to choice 160 smelting to 220 pound weights $725P775: sows terrupted supplies from the far $4 75500: odd light sows to $550 east at cheaper prices than those Cattle — Salable 250: about steady on limited supply few medium ieers held at which the domestic output could around $900: good fed steers quoted be sold compelled abandonment of upward from $10 00 medium feeder steers $7 25 some unsold: heifers larklng: cutter the projects BONDS 00 Bamberger R R bonds 40 07 5(1 HollV Sugar 49 '101 00 do 1041-4- been 90000 and 100000 tons comes from abroad most of it from the far east where tension between a nations in that area has been ferior natives and southwestern! $8 75fl 7 00 fed best heifers $10 60grass heifers $6 00 700: itock cattle fully steady meaty heavy feeder! up to $10 00: to $1035 yearlings very common light stockers around $7 00: little under $8 00 heavy sausage hulls $7 40 better cows rn 5 00 50 $5 light canners $4 25 down with shells down to $350 and below SOI TH SAN FRANCISCO Julv II Hogs- - Salable 200: steady about a load 185 to 225 pound alifnruiBS $7 85 sorted 235 In 260 pounds at $735 $5 00115 25 packing sows Cattle Salable 60: steers nominally steady: odd head griss steers $8 50: few 800pound feeder steers $8 25 common $7()0'i7 50 she stock largely steady: i I'tah - 505 004 03 ' 02 Lead 4 004 01 001' have While inquiry at leading metal concerns brought evasive answers to questions concerning what steps had been taken to sniei'er tin concentrate in this country it was said at the offices of one large company that some announcement might be made about the middle of September Nearly all of 4 his country's annual tin requirements of between 50 down Sheep Receipts 7615 Including 6000 for market ami 625 through several lots medium to good irucked-u- i spring lambs slendy lo strong at $7 50ij 8 75: few lots $4 50: good tniikeilin tearlings triH'keri-lewes $300: late Wednesday two doubles good Idaho feeder spring lambs $8 25 straight $!) 13 27 10 00 4 30 33 '' OS 3 0'i4 024 034 no 01 14 -- ' good slaughter steady: medium lo fairly week's steers and heifers $7 511 'u 7 75 bulk $7 50118 75 common kinds $7 25 down: cow sales today limited to cutter and common grades at $475 fn 525 week's bulk medium to good slaughter cows $5 50 l 675 bulls $540 Hr 6 50: good lo choice venlers $1000 & 11) 75 medium vealers (tov ok ('1 01 o:? 4 0'" O'Ji' ' deposits Pershing and Lander counties Nevada but they are too small for commercial development Financial quarters said the conferences held in Washington at the invitation of defense authorities danhad dealt extensively with-t-he ger to tin supplies both directly in g- 66 0014 ' tin 0000 4 02 01 niii SO South from th- - war itself and because of the disruption of shipping fa16 no early cilities Sheep— Receipts- 673 through llles The roncern for equipment for OfllFN July 11 (USDAl—Hoga— Re- handling raw tin ore followed sim and for market ceipts 265 Including 150 over finished tin 115 direct about steady practical top ilar uneasiness $7(10 few lots extra oiiallly $7 10: bulk supplies The government recently butchers $6 85 a 7 00 good to choice average 180 to 23(1 pounds: light and formed a corporation to purchase medium weights outside this range $650 75000 tons of smelted tin in the 6 75 heatv butchers and utlderw eights $625 down bulk sows $375 425 few far east as a war reserve up to $4511 and oter Cattle — Kecelpts 250 for market: about Postpone Comment 4 22 1 00' 2 4 Unlisted Industrials CHICACO July 11 Asked Bid prices tumbled l' to 18 cents a bu?hel Thursday to the lowest Amalg $ R S5 '$ 6 45 Sug pfd 2 15 S5 Mach level in more than 10 months as Con Wag 85 00 72 00 Fire Clav a result of selling inspired partly Utah 61 00 00 64 U P L $6 pfd ' 67 00 ' 65 25 do $7 pfd by northwest rains which grain 41 50 3R 25 Z C M I men said gave much of the spring wheat crop a new lease on life Closing at lows for the session S L Curb July wheat was priced at 73 c Aiked Bid lowest any contract has been since $ 2 60 T" 270 Sugar com last September 1 the day Germany Amal£ mo 2(1 7 5 20 KirFt Security Poland 126 00 invaded 121 00 lna September at Utah Home FireCorp1 '67-a- 22 22-- II 711 01 03 07 10 00 004! 001' 0141 1 rt -Kansas-Texas Si 5:''vj 4 56 Close iyiit 31 in 0' ' I'll (' ' 6 S 51' SI' 2 2 ! lo 15 lo1 14' 02 05 02 4'r: 2ir 1 M'a r 014 2t 01 TRllRSDAY'R SALES 500 at 5c Moscow 11MIO at 1 New Park 200 at 36c 2000 al 5c New Onlncy 1000 al Park Rincliam 2000 at at 300 Oi'c Park Citt- Con Sllter Standard 5000 at c 500 at Hf Tintic Standard 100 it $2 60 '! 12 I 2 J 7 2 2 llumlilc Oil lnl Petrol Junes A Lau Penuroaii 6 25 31-- TS il Rail-rna- API — Following sacionl on the 15ii s 15't 5' 714 !" ("Pi-W- heat 1 Mount (ill Nat Tun NIhk Hucj Piuer N iplssliip Mines 141 H9 A I'mn 01 25 01 4 00 Cardiff r'-- Stl Con A Mines 28 3S-- ill 15 i do pfd Low th al ' A 4' Utah Wyo Con Oil Victor Coo Walker Mininf- - Wheat Dips to 3 '4 32 0 56 4 034 21 17 Q2 jDJ Con 7uma 4 Domestic mines' in Alaska Dakota and North Dakota and South Carolina produce about 2 per cent of United States requirements The rest is imported Small NORTH HALT LAKE July 11 (USDAl — Hors— Receipt! 1364 1133 Including IhrouRh 91 for market and 140 direct troiiR to 10c higher: practical top J710 on best ISO to 230 pound butchers hpht J6 50 '3 6 85 packing lows $4 00 weight 4i 4 75 55 134 Cattle— Receipte Including 24 lor market and 55 direct: through iTo good kinds sold early: bulk aters $650 si 7 4ft common Ktnni nnsn to $5 50: hulk trucked-lheifera $7 25 6 7 75 common kinds downto 4o 1500 cows $550 bulk trucked-l600 cutter kinds $400 16' 450 canner pradea down bulls $450 to $325 few odd trucked-ifew no pood tealers sold early C'i5fi5 cull ind 0OO'o 1000 mediiirnIyealers- 03 13 001 Standard West 014 014 10 4' 01 Market Quotations Vi 02 02 03 05 4 1 Tar Bahv Tintic Central 21 ' 5914' 59 02 00 00 03 02 02 Park Binuhsm Park City Con Park Kouolrt Park Nelson Pnrk Premier Park Utah Plorhe Bristol 16' 49 87 00 1' 0011 02 v lrfd Maenolla Mummoih Miller Hill Miners Gold Missouri Monarch Moscow Mt City Copper Mountain View Yankee 1 1 11 01 011 01 exchange Plumbic Mines Tintic Standard regained ground Plums lost earlier in the week and closed Prime Cm Argentine at $'J60 up 5 cents New Park at Rico Rnst'n Coal 16 cents was up cent New Sllter Kmc Coal Silver Kins West Quincy trading in advanced Sllter Shlrltl Standard ground this week because of a Siher Sioux Mines good new showing at the mine So Iron Blossom' 4 cents and closed at So Slaniiard opened at unchanged 21't Oil 00-v- Kentucky Utati Keystone Leonora Little Mav Tintic I'nlon 1'tah Utah 02 09 00 14! ' Livestock 1 oi V 01 vfl Kennebec Tint ir 02 26 151 Ohio Cooper for a gain Park City Consolidated at 94 cent on an odd lot was up Cardiff at 5 cents odd lot Moscow at l's cents Park Bingham t 2' cents and Silver Standard cent odd lot were at 1 cent 01 06 02 01 23 r New Qtllncy Nurth Lily 5cents 03 00" L Cori Swansea 10 05 T2 OO1 Nalldnter New Park New Premier Mining stocks were steady to stronger in lackadaisical trading Thursday on the Salt Lake stock 02 05 03 01 Indian Queen No NEW YORK July 11 (AP)— The national defense commission has held Important conferences with representatives of leading nonferrous metal concerns looking to establishment of tin smelting facilities In this country it was learned Thursday The United States has no smel- ters to handle tin ore despite importance of the metal as a strategic war material as well as a necessity in a number of manufacturing lines notably automobile and can- - nm OOU1 1 '5 ti'2 in Vs 56 97 3111 12'' 6 1 4 Brazil Rs 4 do fiijs Canaila 1s 60 Colom 6s 61 Oi-( ''peonage! 5s 52 Denmark 4 'as 62 Krt'iuh 7Vs 41 Ger Cov 5'jS 6R do 7s 49 Itak 7s 1951 lapiiti ti4js 54 N S Wales 5s 57 Norwav 4s 63 Pun 5s63A at asii Sao P St 7s 40 Tok Kl II 6a 33 Tot 'H li 43l 't " 'v in 1R ' 4 3 HI 10 Si 2 ' 2 I 4 i "1 31' 'n 2 ' Australia 1 - I2S MM- ' 7 Sales n lis 31 4 I I 'M 12"' KO RI li ' IK'i 13 Alutihi PAP 5s 53 AnlLerjj 5s 58 - ti 'ft'5 w ' 'lll'tl H 1 3(1 hi FORK 1 3S'i 3RI ' !I7 ican copper it 40' 102 102 401 H6'i 17 60 U 60 7 67 67 'V 67 '4 2 105 'a 1115 105 i3 111! 113 113 Si ss ssS S8V 7(1 u - ' 17 0I1 70 s ' - itm 17S 4 U I ti 1 1 4 11' I7S - - 21 34 S" RI ''N Ain rafl Citifs ser lie do jlil ("Its Pal1A K Arois Colum ptn Conn Ith A S war A Share Kl Ho do 6 plil 5 plil do K011I Mol Can A Kurd Motor itd Hoiluurr Coin It '4' ' ' f rS' 1S1 22 31 1 U ! 1 S Sales Hich 1011 26 H' 261V 26 V 11 13 no 30 30 5 16 3 16 3 16 on 39 4 ( - "li'' li'-- Kl Alum Co l"i lit It 13' II'- 3'' 4 A ' 23 i'i 28 3 21 11 2 24 21 52 3 2 2 23 ' s 1 STOCKS (Sales in Hui ilreilsl lV 5' 51 13 12 i ' 27 11 25 :in 5' OS 'a s - 13' 111 1 22' 5' Os '1 NEW YORK Jim-ia list o( Thursday New York i irt) exi ha 25 IT 1S1 lit 2 30 V- - 11' I'll 1 2 3 31 1 37' ' 01 ' 1112 Ul'a do 'I V s 4(i dn 4 ias Ore 77 StiKlllN'l Is lil 4 5 tia Slude i Tex Cor :i'3s 51 s 52 Tw A () I'll Pant His 70 1'tah lAT 5s 44 I'tah PAI 5s 4 4 West I'm 5s 51 Ml do 5 Younc SAT 4s HI " IU2 13 "t s 't "H s l'2 17 S S 1H II ij sen 4 HI 102 4 20 104 20 59 80 531 65 21117 in 102 102 ' 2R 17' 1 3 3 101 7 A 'Is I 2 Purl UK 4'ia tin Post TAC 5b 53 Rep Stl 4 'us 3B S Cal Cat 4s (15 So Par 4Kb St Curl) Prices 24 25 30 52 14 4:i' 2H s A to'1 A lea CAK 1 - 2H 2 :u ' C"ii C —I — S 2111 7(1 1 in 4 2 M 30 a 2I' 22' ')' ri 25 25 5 67 V 11' 1 3 A 214 1 11 Ini) 5 2 li iln i: 2m 3 5 'us do do 3 Itl't 41 W ' us 4 PaRR 1(1 8 arourid "I3rT'0ncr(ons in January' lo4Vn 104 't Copper circles reported that the llltii 105la l0jW French surrender to Germany was 106 iflHU lofil with a marked curtailcoincident lj 12 II 't 12 25 Vi ment in foreign demand for Amer25' 23" j tiO 7(1 1114 Asked 02 S 02 OOVir 04 well above 300000 tons Heavy-waGrand Depuslt Western after September Great demand Horn SHter to a low Howell of down them pulled ' 1 S 142 42' 2- 24 30 SH H 142 4:t' I A' Nk Can' Salt ' Int Shoe Int In lit In - Ili' S7-- 14 Pai- i JS SH s let Harves 'v S7 liispT Cop Inter Ironi In Bus Mh' llll! 7A 21 K7 a 21' Rav Nat NYC ' 11 10 II ' ' ' 00s r r i I SI ' SI III 12' 21 7 I' 21 1 Bid t Cliyton Sllter Colondo Con Colo Rexill Combined Metal! NEW YORK July 11 (P— 2!J4 - ' issuos Hgain monopolized attention in the bond market Thursfit and December at 75 ti' :u Walworth advancing in some cases as 74'7'i7rc j N day Ward 4'1 much as 3 points while the gen- 75'iC were within minor fractions do H 2 of the" season's lows established War Pro P 17 17 ' We OAS '1 eral corporate list muddled along earlier this month Minneapolis Weil I'" T IM with is indifferent results I! V"I 20 Brokers said there was a fair prices closed 2' to 2 cents lower l Ill Wept KAM Wliite Mo Hedging of new wheat nnd the amount of investment buving in of't Wool" tth 32 32 the rails as well as the ordinary sharp upward revision in the Writ- - PAM Hi' 1 ti V ficial estimate of domestic winter — V— ' of run that speculative activity l 7R W WriKl-wheat production added to the s 12 Yel TA(" 4 always turns up In this group market's 111 burden of selling 31 'J Yob SAT when are prices rising especially — 7— the rainfall corn Also reflecting 2 0 ' 0 S HPSt Zenith R is little going on in vyhon there to l cents lower closed prices stocks Best prices of ihe day 128 330: pieylons Total sales Triors Ia 615h 61 Sc September 58 fa rlav 282140: week an rinsed year alio July in most cases in were the fpached :wo 150970 Janyears hi945460 3n to and rye 1" date 29 496 final hours indicating purchasers 58 'vc 1 Oals lost year ac liarv cent but lard gained 2 to 5 to 135 592 408 18970005 to vears paid little attention to the drop beans closed up in last week's freight carloadings cents and soy 1 cent off to in announced 4'i 2 ' 1 ' No Par ti dn 4a 07 Rnhhr1 nr d" RAM iln nfil V S Steel do pid — — Vana Cp —H — Wal tern ' pr uw 4H 1 : si' !7' 21 1I0 1112 7 2 3 Nor 4a 4tiC Ill Cen 3 ' lili J A SI 4 4 e ri Mo Par 5s 77 F do gen la 75! s liii Mont P N I)y 3 w 71 0 :i7- 21 Iti (it V 11102 Kli ' 3 06 s ': ' li 4 (ioo-lr- ' t' J 5s 55 5s 75 106H 108 H 104 (id 3'? prtcdo ru flii 11 Unit PniB Tint p or rU 2 :w i 4 a Vv HI'- o i Prion O C rnioii pht Cut A I 'ml A lie I'liil Corp I 5 5 2 i 36 50 108 V 103H 104 102 102U 102 1051 U)5ii Klo'tj 1071 lOti-- ' 107 1R 47 VS 47 47 OrB2 63 6) 5 l!l '5 5' 1 3 8 12 3S r III ti T 4 'a 77 1' Colum C or lllol Con Kills 3 ' b 4 ti Kl Liu 3 4i KCVV !' (i A I'i'it Fruit t(ii s Ri ( ( V 108 H 108 QUOTATIONS Consumption in the domestic market and exports of U S origin Pro- Comet Coal copper were both lower Lead ducers' shipments to consumers in Commonweilth Condor Gold June totaled 61716 tons against Crescent Eagle 69467 in May F:xports were 3439 Croff Cmn Point tons against 7018 in the previous Dragon Elt Crown Point month i'ast standard East Tintic Coal June production of primary and East Utah custom smelter copper was 79064 Empire Mine Eureka Bullion in May tons against Eureka Iillv Con During the summer of 1939 Eureka Mines Eureka stocks of refined copper climbed Cold ClinStandard In lft 76H SOW 50 26106 Vi 1(16 ioB--7 108 Chief up 6197 tons Close 76 36 36 17 'HHtO t h 10 fi l PA 41 S 7 Union ("Hr 12 :ik ' Val I'uder ') ' ! 27 II i'l 12 1 In Tianaiiin Tr A W '' 'k 7 C6NW ' 27 7 Tex Corp Tex Cult S Tex PlT Tiile WAO Tim lli-- A iris ' 2irij 21 12 '' 7') 2" 2 l'l Superheat Sweets Co S'lllf A C Intr Swiri -- T— It I S4 7rt 4 NI Slew War Stone A W StudehiiK 21 lnner-Ra- Mn 171 - 67 Illat Roe Oil Oil Oil St 4S12 1 1 1: :i Central Oft ' ' 67'- Hecli Prod Herr 1'im Moll Knni Home Mo Hon Her H Howe Snd Hupp Molr I SI d'" s 171 I GrehotHiil —II — Inland i 2 Oraham-C Con Min (UNoPv pi CI We Sim Indus t 17 4 V 11 t' 2S' 7t - s- Shell I' (1 do pfi' (111 Slifllv Sm'oiiv V So Cal K'l s uth Par South R Sperrv Cp St Brand St CAK si pr i 20 M" S' ' n1 21' J Seriel i IV j n (lo (111 Heara 'I n i I m i ' 76V 9 14 lt H Ittnl Steel Siheu hi 20 SI IS' 71 Cen Th Ki CM Snf Hi Clldilen ('o Cfiodrli h (looil TAR 111 'Ki P'i' 14 R Cnnl Can ('"it (in n Corn Prod do pfd C"ty ImCrane Co Crm nr Wh' Crown ell d" prl Sun 2iS' 5' 2S ' as it '' 7 A II' - 10 26 00 14 13 26 1107 10 107 10il07 10 5s - 2!)"t H7 Sate Strt 111 i 111'! 20 'JL1 pk u: i '! 4 l' 1 is J N 2 —s— H 2SN 2"' fi't 14 0(1 LOAN CORPORATION BONDS Saes in $10001 Sales High Low 11 Rlrh 4 - (i- 't Oil rln ' M K SI v' ( Ifi Revn Ttil) do K :in'a 4 P F R Rn :i' '(MSIPAP Chraler ('"I" ' 2HI ll 11 "r Chea A () 'ilea ('nro Chi A N W 1S'H: 20 ' 1(10 14 109 111 0O11 1 111 10 111 119 26 119 120 00 120 107 14 1117 103 13 103 107 20 107 106 18 106 OWNKRS Allenh cv 5s 41 do 5s 50 si AAFP 5 2030 Am TAT 43 do 3 11 lit do til An Cop 4 s 50 Arm Del 4s 55 A TASK 4s 95 Belli till 3 'as 52 Can Psc Is perp 4s 19 ('en P CMSPAP 5s 73 of Am Rad i pr Item ( 2(1 1 c R 4 2 A Pullman Pure (ill Puntv Bk — h— 2' 41 Xr P - 1(1- t ( al Trart Celanee Ol'ilex tVrru rle P ('"Ik-at- S 4 2(1 7 It'fa ' Ale (1 Can ' T Uors-Wa- C n i 14 Burden RikIiI I'1 27 Rriripe Rr Hrlepa Mfl! litiltna' Mol do pi do 2 p( Pa he Fim Penney JC Penn Ml PhtljiK Ds p c i pr1 Phil Mor Phil ePl " Pilt H'eel I'r S11 Car I'rn- A C 27 " v 2 1' 211 ( 14 13 26 3 106 18 h - '4 4!IH 40 2'ISi Kl 2 1U7 4 103 7 107 ia ' tJ 12: — P— PC '1 27 do rec Kll I 2 CI III Ow 7 fi Pan A ni- Par Pi ' TAT' —K — The I'nited States must produce 2388000 new autos and trucks each year just lo maintain existing rolling slock at its present level since that is the average number of old vehicles scrapped nnuaHjr during the last decade according to the Automobile Manufacturers' association In the same period the average number of new vehicles sold at retail was 2807666 Motor vehicle factory sales in the first half of 1940 totaled 2525774 units " 2t ' ParK Meth (flaw Knx 1 21 'al 4 ' - 2:i '1 '4i nrhiif Corp (ti n Kiev lliu steel 5'l S'V 1(i 21 1 4 ti — )— ohm (nl l!l' 4 - 't 2" Am CO Nor Par ai 111' IK' 1 M 17 21 V 2H 21 ti Av Am a 2 ' KFt Y NYCSil p( N Y Sfup N N J'i' 77 21 7M i ' 7 1 100 14 1 00 2 111 10 3 10 2S 36 120 00 4 :s 21 "6V 2 lud 4 N ' 7t Mm ve-i 1 '" 17' 46- F1 r ") i Ri' K'l v I M Cfn'Ry International Smelting: and i ') VI A i I O l( Stel - N- VI I 7 38 Cen Motors ri" pM Mining Notes 1(1 71 0 fi All Ftrliii A 2 1!' Tri: Ts HOMK 2U 1" 2 A Nat L Kh 21 1 2 i) T A nil 751 " W'1 Am :i r fr TAT Th T I'M re Wat Wk A IH 2 Kef "(In Nal In Pr Nat () tt Nat Lead N P f KIra Am Am 12 14 14 ft 7 K S'lK ' 4 J4s 2 2 2 -' THURSDAY'S NEW YORK July 11 UP— Stocks of refiried copper in the United States increased 2091!2 ton in June Alt Tunnel Met M Co to 199586' tons the highest re- Am Brit tr Gold Cop Hill Bin 1939 since the Copper July ported RiiKhsm Met Institute announced Thursday Rllck MeUi fcflnlnt Partly offsetting the rise in re- Bomnzi Bristol Silver fined material was a drop of 7013 Bullion tons in supplies of blister copper Cirdlff Tllll In May the combined stocks were Crtr Centnl Stitidird GOVKRNMKNT BONDS Kales in $10001 ! (Dollars and Low Close Sales High TREASURY 10 10R 14 108 1'4 108 14 1 nm l 17 ioh 17 108 17 by Ill 1 Mil 1 a 2:i 12 14 Metal Am 04 4' I Men I U A A 7 24 I Business and 4n 8 L' 227 :io 04 K Allied Chemical and American ll'Mll- Airrrl Can 1 each Smaller declines were III P de N1 — K— posted for General Motors Chrys- r'aatnian K Hfllon Mfn V S Rubber ler Kennecott Kl II Standard Oil of N J and Con- Kle- Aiilo P A li Sti do pf solidated Edison do $7 pf — F— Coppers had to contend with a June increase of 20000 tons in Flrhka-- S1 red metal stocks to the highest Freepotl Gen RaklnK level in a year apparently reflectCen Bfoiue ing falling exports A sharp drop Cen Cahle Gen (icar week's of Fourth in the luly Cen Klec freight loadings was in line with Cen Foods expectations 4 :iit Chi An' - day The stab at recovery was attributed mainly to word from Washington the administration ' Nie ft ' ' I 1 NKW YORK July 11 (API — Following are Thursday's high low and closlnK oners fl bonds on the New York stock exchange and Ihe total sales of each bond: J A Hugle A Co merYlbera New York stm k ex native Low Hifih dope 10 ind'iet l'JJ 10 1212 1J1 ' up 09 JO rails 2620 2 OO 2H07 up OK 15 in llll im 22HS 22 7h olt OK 4IJ Ixinrtl s :ii up 24 11 cnmmndilles 51 21 off 115 10 15 20 Kalla 1'tlH Indus! 10411 hich 2ti 44 1V2 20 i'I'I Ofl 1040 Ion 110 41 216o 17 40 I 1010 hih 240(1 2710 2111 12 11 1010 In 44 Furnished i 0 I) C A H A A thte 30' t 1 inrraila A NEW YORK July 11 ifi Stools nd aircraft got an fariv tnrhoM on a rally in Thursday's slock market but failed lo' follow through Cains In the first hour when activity was the best of the ses- jn4 4' st Mf Am ran lfc'4 - leihai A s s 5 Jn Nd Cnse s Averages (Is Iaw HiEh A'lHm-Ml- Air Huidre m — A— Adam Vx A sion Dow-Jone- F'l!:i NKW YORK Julv 11 g APi 'HiiiilHtMii of Thrvia e stm k traia'-ni- s New York slock ex hanue mi Defense Unit Seeks U S Tin Smelters to Market Qnptations Copper on Hand in Year Bond Prices a Excess Profits Taxes Will Cover All Lines U S Has Most S L Stock Y Stock Exchange Quotations Washington 1 : i:l-l- K 8 9 1 & 5 tide-wa- ll Leid--8tel- dy 1 "8-t- Flou"r MINNEAPOLIS Julv 11 (APi — Flour Carload lots per barrel In co'ton sacks family palenls 10 ten's lower $5 30415 50 standard patents unchanged $445'u 465 shipments 17 050 barrels NOTICE OF REDEMPTION OF Union Pacific Railroad Company First Lain and Refundint Mortjaje Bondt Miturinf Jum 1 2001 NOTICE ft HEREBY GIVEN that pur-iuto the provisions of an Indenture dated June 1 1908 between Union Pacific Railroad Company and The Equitable Trust Company of New York ai Trustee (now The Chase National Bank of the City of New York) under which First Lien and Refunding Mortgage Bonds bearing interest at the rate of 4 per annum were issued and a supplemental indenture dated as of June 1 1923 under which Bonds of such issue bearing interest at tile rate of 5 per annum were issued Union Pacific Railroad Company has elected to exercise its option to and will pay off and redeem on September 1 1940 the entire issue of 456 and i Bonds due June 1 2008 Accordingly on September 1 1940 all such bonds will become due and payable and will be redeemed at 107 H of the face value thereof with accrued interest thereon (including interest secured by the supplemental indenture of June 1 1923) to September 1 1940 and thereafter interest will cease to accrue Bonds pay-abl- e in coin or currency of the United States will be redeemed upon presentation and sur render thereof at the office of the Trustee 1 1 Broad Street New York City N Y Bonds payable in sterling money of the United Kingdom of Great Britain and Ireland wiU be redeemed upon presentation and therr M the tsflicc f the Trustee 6 surrender Lombard Street BC 3 London England Coupon Bonds surrendered for payment and redemption must in any event have attached subsequent to September ? r""P°nimt"nn 1 due September 1 on coupon Bonds will be paid only upon presentation and surrender of the coupon therefor which may be attached o the Bond surrendered or may be surrendered separately Registered Bonds must be accompanied by mtrumrat of assignment and toan'sfeV Dated May 24 1940 Union Paelne Railroad Company By E G SMITH Triu qulck-allve- 1 - 'r 1 Cob-b'-r- s IMMEDIATE PAYMENT The Company has authorlred the Trustee toredeem the Bfndsat the full redemption i'J?VJ0n 'P"wn'"n )ro"de 29 mo" " on aurren-Ma- y 'ter |