Evening star. [volume] (Washington, D.C.) 1854-1972, November 18, 1938, Image 23

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Evening star. [volume], November 18, 1938, Page A-23, Image 23
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Evening star. [volume] (Washington, D.C.), 18 Nov. 1938. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1938-11-18/ed-1/seq-23/>

Newspaper Page Text

Freight Loadings Sag
To 636,710 Nark
During Week
Decline of 5.4 Per Cent
Leaves Volume 7.2
Below Year Ago
^The Association of American Rail
roads reported today 636.710 cars of
revenue freight were loaded during
Hie week ending last Saturday.
This was a decrease of 36.623 cars,
or 5.4 per cent, compared with the
preceding week; a decrease of 49.216,
or 7.2 per cent, compared with a
year ago, and a decrease of 244.807,
or 27.8 per cent, compared with 1930.,
The report clasified the loadings
as follows:
This week. Last week
Miscellaneous _ - Jon.:{(*<» —L4 iM)0
Less-than-carlot _ l.V-V-JO'J —
Coal JUS.oiii* ~-.'M4
Grain and products _ .T’.ons —i.45it
Western districts 1 !».4GO —4.7**
livestock 1 s.otii —l.nju
^Western districts 14.HI- —!♦*-1
Forest products *.’t; *4H —1.45*5
Ore . 1*5.7*0 ■—H.7 1H,
Coke 6.375 4-108
The Associated Press seasonally
adjusted weekly index of freight car
loadings, based on 1929-30 as 100.
was unchanged at 66.3, compared
4vith 71.5 a year ago.
Range of recent years:
1918 3 9.17. 1936. 191.Y 1914.
Hich 66.3 S'.’" 84.5 71.1 65.9
Low _ 55.7 tv:.5 HO.7 58.0 59.5
Washington Produce
BUTTER—90 score. 1-pound prints. *.*:
tub 07; 14-pound. 09: 90 score. 1-pound
prints. 30; u-pound prints. 31.
MEATS—Choice beef. Oti; cood beef. 19:
calves. 17. lambs, lb; veal. 17; fresh pork.
00: pork loin. 03; fresh ham. 19: fresh
ginned ham 10‘a; smoked hams 05; lerge
“noked skinned hams. 00; smoked skinned
n ‘ins. Od; piece bacon. 01: sliced bacon.
09. rompound 10*2: lard 9*j.
LIVESTOCK—Pies 100-140 pounds,
i; 1V*«-7.0434: licht pics. 140-ldO pounds.
I 7 Up4; 160-010 pounds 7.0934: 01O-04O
pounds. 6.7934. 050-300 pounds. 3.79%
*4 ;m34: calves. lO.0934-l 0.7934: medium
capes. 5.O434-7.0434: culls. 0.8434.
Prices paid shippers. net f. o. b. \Va<-h
incton Bv the United States Bureau of
Agricultural Economics;
EGGS — Market steady Government
traded and dated eggs: Whites. U. S. ex
tias large. 40: U S. extras, mediums. 09;
U S standards, large 35’a; U. S. stand-i
ards. mediums 0d*2: U S trades. Od1*; |
pullets. 04 Nearby uneraded eggs. Cur
vin’ receipts, whites 31a30; mixed colors
7 a 0 £
LIVE POULTRY—Market steady. Fowl;
Colored, all sizes. 17alb: No. Os. 13a 14:
Leghorns. 10al3: roosters lOall. Chick
ens: Virginia Rocks, broilers and fryers,
all sizes. 19aOO: No. Os. 10a 14. Delaware
Rock': and crosses, broilers and fryers, all
*i*s. 19a00; No. Os. I0al4. Mixed eol
'jvd fryers. 15aH»: No. Os. llalO Ltr
mrns broilers, all sies. 15ald. Capons:
r to 9 pounds 05a0b: slips. ldal£. Tur
keys. younc hens. 10 to 10 pounds. 00a03.
young * oms. 15 pounds and up OlaOO. No.
15aId: old hens. IbaOo: old toms.
1 £a0(* Guineas 0 pounds and over. dO
1 rnts a pair; under 0 pounds. 40 cents a
. pair.
Fruits and Vegetables.
Sales in large lots by original receivers j
up to s a m. today.
APPLES- Market steady. One Wash- :
niton arrived, one broken and one un- i
3roken cars on track. Truck receipts light.
Bushel baskets U. S. No 1—Maryland.
3ennsylvama Virginia and West Virginia.
Drimrs. 2’4-inch minimum 60-75; 2*2- j
nch minimum. 1.00-1.10: 214-inch mmi
num. 1.15-1.25: Jonathans. 214-inch
ninimum. 75-85: 2,i-inch minimum. 1.15
1.25. Yorks. 2* 4-inch minimum. 65-75:
2* a-inch minimum 90-1.oo; 2‘4-inch
ninimum. l.jo-l.15: Staymans 2’4-inch
■ninimum. 75-85: 2'a-inch minimum. 1.15
1.25 Delicious. 2'4-inch minimum. 1.00
1.10: 2*2-inch minimum. 1 35-1.50: Golden
Delicious. 2’4-inch minimum. 75-80; 2*2
nch minimum. 1.25: Bonums. 214-inch
ninimum. 75-85: 2‘2-inch minimum. 1.00
1.10. Boxes and cartons—Pennsylvania
md Virginia Dalicious. combination extra
"ancy and fancy 11 Is-163s. 1.50-1.85;
• s-lOOs 2.00-2.25: C grade. 113s-163s.
^25-1.50: 64s-ions 1.50-1.65: fancy,
'.aymans. 113s-150s. 1.50-1.05; 64s-100s.
1.90-2.00: Golden Delicious. 113s-163s.
•1.30-1.65: 64s-100s. 1.85-2.00: Romes.
I 1 3s-1 50s. 1 35-1.50: 64s-100s 1.75-1.85.
BROCCOLI—Market dull No carlot ar
-ivals: one unbroken car on track. Penn
sylvania. crates. 75-1.00.
BRUSSELS SPROUTS—Market slightly
veaker. No carlot arrivals: one unbroken
:ar on track. California. 25-pound drums.
1.75-2.00.
CABBAGE—Market steady. No carlot
• rrivals; one broken and one unbroken
•ars on track. New York. 50-pound sacks.
Danish type, fair condition. 30-35. Vir
:mi«. packed locally. 1 12-bushel hampers,
iomestic round type. 65. South Carolina.
12-bushel hampers, pointed type. 75.
CARROTS—Market steady One Cali
ornia arrived: one broken car on track,
sliforma Western crates, bunched. 3.75- |
LOO. Pennsylvania. bushel baskets, j
opped. washed. 7 5.
CAULIFLOW’ER—Market about steady,
vo t»rlot arrivals; two unbroken cars ,
•n ’rack. Truck receipts moderate. New i
fork crates 75-1.00.
CELERY—Market dull. One California.
New York arrived: one car diverted: !
vo broken and four unbroken cars on I
aek. New York. *2 crates, individually i
ashed, 3-6 dozen. 1.75-2.25: 2% crates,
the rough 1.50-1.75. California, 'a i
^rates. individually washed. 3*2-4 dozen.
! .65-2.75: mostly 2.65
LETTUCE— Market steady. One Cali
ornia arrived four broken and four un
jgoken cars on track California. Western
rates. Iceberg type. 5-dozen. 4.00-4.25.
ONIONS—Market steady. No carlot
• rrivals: one broken and one unbroken
' ars on track. 5o-pound sacks, yellows.
L S. No. ]. New York. 1.05-1.10: me
iium size. 85-1.00. Michigan. 50-pound
?cks. yellows. U. S No. 1. 1.00-1.10,
PEAS—Market steady. No carlot ar
uvals one unbroken car on track. Cali
Trnia supplies insufficient, to quote. East
on Shore Maryland, bushel hampers, small
odded varieties, fair quality. 1.75-2.00.
POTATOES—Market steady. Two Idaho
rrived two unbroken cars on track, 100
ounri sacks. U. S. No. 1 : Cobblers. Penn
■ivania. 1.25-1.30. ungraded 1.10: U. S.
o. 1. New Jersey. 1.25-1.30: fair con
3ion I 10-1.15; Russet Burbanks. U. S.
To. 1. 2.00-2.10.
Sweet Potatoes Steady.
SWEET POTATOES—Market steady One i
'with Carolina arrived: one unbroken i
r on 'rack. Truck receipts moderate, i
Tishel baskets Maryland. Goldens. U. S. 1
o. I. 1 <iu-i ]0; Nancy Halls, 90-1.00;
irginia. Nancy Halls. 90-1.00.
TOMATOES—Market steady. No car- I
■t arrivals one broken car on track. Lug I
■»xes. Florida rioes and turning wrapped.
and larepr 2.25-2.50; fair condition.
«»0: Hxl 1 75-2 00; Texas. ripes.
-apped. «\0 and larger. 2.25-2.50.
MIXED VEGETABLES—No carlot ar
•als: one broken car on track.
SNAP BEANS—Market steady. Truck
ceipts moderate. Florida, bushel hamp
s. treen flat type. 1.25-1.35; round
ringless. 1 40-1.50.
LIMA BEANS—Supplies Insufficient to
■ote.
CUCUMBERS—Market steady. Truck re
nt light. Florida, bushel baskets, 1.50
*•0; fair quality. 1.00.
SQUASH- Market dull. Truck receipts
derate. Florida, bushel hampers, white
apped 1.25-1.50: Yellow Crooknecks.
l •'0-1.25.
1 FX5GPLANT—Market steady. Truck re
nts light Florida 1 A*-bushel crates.
*•0-2.50. mostly 1.50-2,00.
ARTICHOKES—North Carolina, car
ts. 1.00-1.25
V BEETS—Pennsylvania, 25 per dosen
'ches.
^OLLARDS— Nearby sections, bushel
keta. 30-35
'RANBERRTES— Massachusetts. V*-bar
_ boxes. 3.5o.
\ 2NDTVES—Belgium. 10-pound boxes.
0-1.75.
7 ARLIC—California. 10-pound sacks,
t on.
:ALE—Nearby sections, bushel baskets.
30.
IUSHFOOMS—Maryland and Pennsyl
Oa. 3-pound baskets. 35-RO.
OKRA—Florida, bushel hampers, J.OO
PARSLEY—Pennsylvania. Va-bushel bas
s 50-Ho
PARSNIPS—Pennsylvania. Va-bushel bas
s 35-40.
TURNIPS;—Canada. 50-pound sacks.
AVOCADOS—Florida, flat crates, 1.00
CHESTNUTS—Italian. 7-8 per pound.
GRAPEFRUIT—No carlot arrivals: one
oken car on track. Florida, standard
i-e< 1 50-2.0(1.
I GRAPES—One California arrived; three
ken and two unbroken cars on track.
Otornia. lug boxes. Malagas, 1.25-1.35;
ibiers 1.50-1.75; Emperors. 1.50-1.75;
ornichons. 1.25-1.50: Belgium, various
arieties 40-50 per pound.
HONEY—Virginia, cartons containing
.’ dozen, comb. 3.75-4.00.
LEMONS—California, standard boxes.
i.nn-4 50 as to grade and size.
LIMES—Florida. Persians, 'a boxes. 1.00
1.25: bushel baskets. 2.50-2.75.
ORANGES—No carlot arrivals: no cars
in track Standard boxes: Florida, 1.5m
.’.oo. California. 2.25-3.50. as to grade
<nd size
PECANS—Georgia, per pound: 8tuarts.
4-18; Schleys. 20-22; various other va
■ieties. 10-14.
PERSIMMONS—California, flat crates.
.00-1.50 according to condition.
TANGERINES—Florida, 4/5-bushel boxes
.00-1.25
PINEAPPLES—Cuba, crates, 3.00-4.00.
plorida. 1 j crates. 3.00-3.25.
KUMQUATS— Florida. 8-10 per quart.
CHAYOTES—California, crates. 1.50
.50. as to size
RjyiSHES—Texas. Vi crates. 1.50-1.75.
American Water Works & Elec
ric Co.—Power output of electric
ubsidiaries in October decreased
i per cent under October, 1937. in
0 months decline was 20 per cent.
NEW YORK STOCK EXCHANGE
(Continued From Page A-22.)
2:30 P.m.
Prev. 1033 Stock end Sales— Net
Hlah. Low Dividend Rate Add 00. High. Low Close, chat.
21 9'v Weston Elec Inat—. 1 18(4 18(4 18(4 — 34
20(4 10 Westvaco (1)-.- 1 19 19 19 — (4
30H 20 Westvaco pf (1.60).. 1 30(4 30'4 30(4 “ **
32*4 14(4 Wheeling Steel ... 17 30', 28'i 28*4-1(4
fil 42 Wheel Stl pr pf (3k) 1 58'/* 58(4 58(4+14
15(4 6(4 White Motor -. 12 13(4 12(4 13(4 - 34
11 6 Whita Rock Min S — ? 7*4 7V* 7*4 - (4
3 1(4 White Sew Mach — 1 1** 13* 134
2434 8*4 White Sew Mach pf. 2 20** 20 20 -1(4
3(4 134 Wilcox Oil & Gas— 2 2*4 234 2H *
3*4 IK Wlllys-Overland... 5 2*4 2*4 2*4
6T4 3*» Willys-Overl’d pf_ 2 5'4 5*4 5(4 - (4
5(4 3 Wilson & Co _ 7 5 4*» 4*» - (*
60'4 32 Wilson & Co pf- 2 47 45'-> 45(4 -lVi
27s* 10(4 Woodward Iron- 11 26(4 25 25 —1
53s* 36 Woolworth (2.40)— 31 51*4 51 51 - *4
27(» 11'4 Worthington Pump. 22 25H 23(4 23*4 —ll4
119'4 55'4 Wright Aero (2e>_ 280s 120 115 116 -1
74 61'4 Wrigley (3a)_ 1 74 74 74
Montgomery Ward
Earns $6,360,964
In Three Months
- I
Profit Compares With
$6,238,230 Recorded in
Same 1937 Period
By the Associated Press.
CHICAGO. Nov. 18— Montgomery
Ward & Co., Inc., reported today net
profit for the three months ended
October 31 of $6,360,964, as com- ;
pared with $6,238,230 for the cor- j
| responding period in 1937.
After provision for class A divi
dends earnings were $1.15 per share j
on the common stock, as compared |
with $1 13 for the corresponding
period a year ago.
Net profit for the nine months i
ended October 31 was $11,500,490. ;
as compared with $15,287,874 for the
same period in 1937. This repre
sented a nine months' earning of $2
a common share, as compared with
$2.73 for the corresponding 1937 j
period.
The company said that due to
change in the law charges for Fed
eral income and surtaxes were about
$500,000 less for the current nine
months than would have been the j
case with the 1937 law. under which
last year's charges were provided.
Kansas City Southern.
Kansas City Southern Railway Co.,
among the first of major roads re
porting for October, placed net op
erating income—before fixed charges j
and other income—at $265,352. com
pared with $429,694 a year ago.
Gross income for October dropped
to $1,122,812 from $1,402,573 in the
same month last year.
Standard of Kansas. i
Standard Oil Co. of Kansas re
ported today net profit for the nine
months ended September 30, of
$521,497, equal to $4.74 a share on
109.990 shares of common stock.
This included profit of $24,863 on
sales of fee land and royalties. Net
profit for the first nine months of
1937 totaled $611,890, including $332.
660 profit on sales of leases, etc., and
after $140,000 reserve for contin- i
gencies, equal to $4.53 a share on |
134,841 shares of common stock.
Decline in Steel
Rate Is Due at
Youngstown
Er the Associated Press.
YOUNGSTOWN. Ohio. Nov. 18 —
Slightly lower steel output in
this district is in prospect for
next week. The extent of the drop
is uncertain as some of the sched- j
ules are subject to change.
Farrell Works of Carnegie Illinois
Steel Corp.. which started this week
with 11 open hearth furnaces,
dropped to JO and may go down to
6 next week.
Output this week was 63 per cent j
and assuming that 10 furnaces w7ill j
continue at Farrell, operations next'
week will be 62 per cent. Should
six open hearths operate there, out
put would decline to 58 per cent.
Republic Steel Corp., however,
may add to its five open hearths
here next week, bettering the per
centage.
-,
Short-Term Securities
(Reported by Smith. Barney Ac Co l
Bid. Offer.
Amer Tel Ac Tel 5%s 43 _ 3 12% 312%)
Auburn Auto Co 4%s 39 25 29
Austin Ac Northw 5s 41 ... 79% 7 5 j
Baldw Loco Works 5s 49. _ 99 109
Central Foundry 6s 41. _ 199 111
Chesap A- Ohio Ry 5s 39 _ 192 192% J
Commercial Credit 2%s 42 J92V2 3 02% j
Container Corp 5s 43 99% 99%
Cuba Nor Rwys 5%s 42. _ 34% 35
Delaware Ac Hudson 4s 43 57% 57% I
Edison Elec Ilium 4s 39 199% 19234
Gen Pub Service 5%s 39 . 190 loO%
Gr Rapids Ac Ind 4 %s 41 103*2 104 %
Houston Oil 5%s 40 101 % 102
Illinois Steel 4%s 40 3 05 195%
Int Merc Marine 6s 41 55% 58
Int Tel Ac Tel 4%s 39 3 00*4 3 90%
Laclede Gas Light 5s 39 82 83
Lake Erie Ac West 5s 41 61% * 88
Lehigh Val Ter Ry 5s 41 56 59%
Lou Ac Nash R R 4s 40 3 00*/* 3 00%
Michigan Cent R R 4s 40 87
Midi R R of N J 5s 40 15 17V*
MilW' Ac Nor R R 4%s 39 _ 40 52
New York Tel Co 4%s 39 103% 104
Pennsylvania Co 3%s 41 99% 102
Penn-Dixie Cement 6s 41 _ 90 92
Penna. R R Co 4s 43 _ 3 07% 111
Phila Balt Ac Wash 4s 43 _ 107% 108%
Rio Grande West 4s 39 39 40%
Ter R R As St L 4%s 39 103%
Tex a- New Orleans 5s 43 94%
Vanadium Coro 5s 41 _ 100*% loi
Warner Bros 6s 39 _ 91
Western N Y Ac Pa 4s 43 _ 104 104%
White Sew Mach 6s 40 _ 191% 101*/*
Foreign Exchanges
NEW YORK. Nov. 1R (4b.—Leading Euro
pean exchange rates moved up a litle with
the British pound today as the Angio
American trade treaty was interpreted
widely as a potential aid to better balance
in international settlements.
The pound, in recent months under pres
sure partly from the flow of funds to
New York to pay for a large surplus in
merchandise exports from this country,
advanced about '/■ of a cent at one time
Traders suggested the rally might have
gone further had it not been for the anti
Semitic drive in Germany which has
caused demand for dollars. Moreover, ex
change men had been anticipating the
trade pact.
French francs. 8wiss francs and Hol
land guilders were a shade higher with
the pound.
Noon rates follow: Great Britain in dol
lars. other in cents Great Britain. 4.701a:
60-day bills. 4.701*: Canada. Montreal in
New York. 99.12'*: New York in Montreal,
loo.RT'*: Belgium. 16.90'*: Czechoslovakia.
3 43: Denmark 21.02: Finland. 2.08;
France 2.631«: Germany. 40.07: benevo
lent. 19.80: travel. 22.10: Greece. .87'*;
Hungary. 19.85; Italy. 5.2614: Yugoslavia,
2.34: Netherlands. 54.37: Norway. 23.66:
Poland. 18.84: Portugal. 4.28',4; Rumania,
.75: Spain, unquoted: Sweden. 24.26: Swit
zerland 22.60: Argentina. 31.40n: Brazil
(free). S 90n: Mexico City 20.75n: Japan,
27.46: Hong Kong, 29.38: Shanghai. 16.15.
Rates in spot cables unless otherwise
indicated n Nominal.
New York Sugar
NEW YORK. Nov. 18 Raw sugar
was quiet and unchanged early today at
3.(15 for spots with no sales reported.
Futures held steady in quiet trading on
further covering and buying believed to be
for trade account. March. No. 3. sold at
2 (IT. and July. 2.13 or unchanged to 1
Point net higher, while May. No. 4. sold
at 111. and July from 1.1214 to 1.13. or
‘a to l1 a points net higher. The market
at midday held around these levels.
Refined was unchanged at 4.40-4.55 for
fine granulated with resales still available
around 4.45.
International Hydro-Electric Sys
tem deficit, nine months ended
j September 30, was $181,507, against
I net income of $1,247,052.
2:30 p.m.
Prev. 1938 Stock end Sales— Net
High. Low. Dividend Rate Add 00. High. Low. Close, ehge.
39 20% Yale&Towne .60... 6 34 33 33 -1
21% 8% Yellow Truck . 75 19% 18% 18% -1%
109 71 YellowTruck pf (7) 130s 104 102 102
25% 9% Young Spg&Wire.. 5 21% 20% 20% -1%
57% 24 Ykstwn Sheet & T— 97 54% 50% 51% -8
28 11% Ygstwn Steel Door. 6 24% 23% 23%-1
25% 9 Zenith Radio_ 10 21% 20% 20%-%
5% 2% Zonite Products_ 15 4 3% 4 — %
Approximate Sales of Stocks on the N. Y. Stock Exchange.
11:00 A.M._ 290.000 12:00 Noon_ 490.000
1:00 P.M_ 880.000 2:00 P.M_1.990.000
s Unit of trading 10 shares
*ln bankruptcy or receivership or being reorganized under
Bankruptcy Act. or securities assumed by such companies.
Rates of dividend m the toregoing table are annual dlsburae
ments based on the last quarterly or semi-annual declarations.
Unless otherwlss noted, special or extra dividends are not In
cluded
xd Ex dividend, xr Ex rights a Also extra or extras. D 1-10
share of $2 preference stock d 1-25 share of S3 prefersnee stock,
e Declared or paid so far this year, f Payable in stock, g Paid
last year. h Cash or stock, k Accumulated dividend paid or de
clarer this year.
Auto Production
Climbs Ahead
Of Year Ago
B> the Associated Press.
DETROIT. Nov.18 —Reporting that
field stocks still are far below normal,
with buying “generally good,” Ward’s
Automotive Reports today estimated
the current week's output of the
automotive plants at 96,735 cars and
trucks.
Assemblies last week totaled 86.300
units and those of this week a year
ago. 85.757.
The Thanksgiving holiday next
week may interrupt the succession
of progressive production advances,
the survey said, but added that
present levels or better may be ex
pected for the remainder of the
year.
Large Burly Tobacco
Income Indicated
Ey tht Associated Presi.
If Burley tobacco growers receive
25 cents a pound for this year's crop
—the price predicted by conservation
experts—their cash income from the
crop will be the highest since 1919.
Based on an estimated production
of 360,000.000 pounds, a 25-cent crop
would yield $90,000,000. The 1919
crop of 300.000,000 pounds netted
$99,900,000. the highest on record
with the Department of Agriculture.
In the last decade. Burley farm
ers' most profitable year was 1928,
when a 269,000.000 pound crop sold
for an average of 30.5 cents a pound.
The 1937 crop, near record in size
402 .700,000 pounds — averaged 20.1 i
cents a pound for a farm valuation :
of $81,000,000.
The decade's bumper crop. 424,
800.000 pounds in 1931. brought the i
lowest average, 8.7 cents. Its cash
value was $37,000,000.
~
Washington Exchange >
SALES.
Washington Gas Light pfd.—10 at
105.
AFTER CALL.
Anacostia & Potomac Railroad 5s—
*1.000 at 86.
Bid and Asked Prices
BONDS
PUBLIC UTILITY.
Bid. Asked.
Anacostia * Po1 5s _ 86 88
Ana a Pot Guar 5s _3 OP Vi
Cab. Traction R R. 5s_ So
Cltv A; Suburban 5s 85'; 87 i
Georietown Gas 1st 6s_116
Pot. Elec. Pnw 3‘sS . ... 106',. loa'j
Wash Gas 5s 1958 ... 1043.
Washington Gas Rs I960.,, ico’j ...
Wash. Rwy. At Elec. 4s . 107' » _
MISCELLANEOUS
Chevy Chase Club 1st 4'»s 104 _
Col. Country Club 1st 4‘is 103 _
Ter. RL Ac Wh. Cor. 1st 4'.«s 103 _
STOCKS
PUBLIC UTILITY
Amer Tel. to Tel. (P) .. 14*
Capital Transit Co **l4 8*4
N to W Steamboat (4) 57\* *7 0
Pot. Elec. Pow. Dfd (6) Ml3
Pot. El. P 5*-a*7 Df. >5 50) *113
Wash. Gas Lt. new (1.20) 23J2 27
Wash Gas Dfd *4 50) 105
Wash. Ry. to El com (f36) *021 _
Wash. Rv to El. Dfd (5) *113
BANK AND TRUST COMPANY
Amer. Sec. to Tr. Co. <e8> 250 27 0
Bank of Bethesda (.75> __ 25 30
Capital i4» 133
Commer. to Savinas (elO) 230
Liberty (0) 1H5 175
Lincoln (f5> 200
Nat l Sav. to Tr. 203 212
Pr. Georges Bk. to Tr (.60) 17 22
Ritas (e8> 2HP 280
Ritts Dfd. (5> _101 _
Washington (6> 125
Wash. Loan to Tr. <eS> 230 240
FIRE INSURANCE
American (t6)_ 121 j
Firemen's (1.20) 28
National Union (.75) _ _ 15 1
TITLE INSURANCE
Columbia (k.30> 12
Real Estate (mH) 160 __
MISCELLANEOUS.
Carpel Corp (±2 00) _ 25 i
La ns ton Monotyoe (4> _ *54 .
Lincoln Serv. com (hi.00) 1H'2 23
Line Serv orior Dfd (3.60) 51
Meraenthaler Lino. <d.50) 25 27
Peoples Dr S com. rvl.OO) 20 32
Peoples Dr S pfd. (6.50) 113
Real Est M. & G Dfd. (50) 4'2 6
Security Storage (5) 115 125
Ter. Ref. to Wh. Corp. <3* HO H8
Wdwd. to Loth. com. (±1.60) 51 -
Wdwd. to Loth. pfd. (7)_ 118 !
• Ex dividend
♦ Plus extras, e 2% extra t 2*2% ex- j
tra h 75c extra e $14 extra Daid No- i
vember 30 1937 k 30c extra, m $3 extra.
d 60c paid September 20 1938.
Chicago Produce
CHICAGO. Nov. 18 </P'.—Poultry, live,
two cars. 51 trucks heavy springs, firm.
Balance steady at decline; springs. 4
pounds up. Plymouth Rocks, 15; under 4
pounds. Plymouth and White Rock. 15; old
tom turkeys. J5; young. 1714, other prices
unchanged.
Dressed turkeys steady; barrels, young
tom turkeys. Id to 18 pounds. 25; 18
pounds up. 25: other prices unchanged.
Butter. 614.140; steady. Creamery, spe
cials toil score;, 26*4-27'/,; extras (92).
2H-26V,; extra firsts <90-911. 25'/,-Vi;
other prices unchanged. Eggs. 1.608;
steady; refrigerator extras. 23 V,; stand
ards. 23; firsts. 22'/,; other prices un
changed. , .. _
Potatoes, 62: on track. 325: total U. S.
shipments. 44<<; very dull; supplies rather
liberal, demand very slow: sacked per
cwt., Idaho Russet Burbanks. U. S. No. 1.
few sales 1.55-1.7214: Colorado Red Mc
Clures. U. S. No. 1. 1.85-1.90; Wisconsin
Green Mountains. U. S. No. 1. 1.10 North
Dakota Bliss Triumphs. 90 per cent U. S
No. 1 1.40; Minnesota Cobblers. 83 per
cent li. S. No. 1. 1.05.
U. S. Treasury Notes
NKW YORK. Nov. 18 OP..—Prices quoted
in dollars aid thirty-seconds:
Approx.
Pet. Month. Year. Bid. Asked, yield.
IV, Dec.. 1938 _100.1
1V4 Mar.. 1039 _101.18 101.20_
2Vs June, 3939 _ 102.2 102.4 _
l»s Sept.. 1939 _ 101.30 102 _
1*, Dec., 1939 _ 101.30 102 _
1*, Mar.. 1940 _ 102.6 102.8 _
IV, June, 1940 _ 102.9 102.11 .
l'/a Dec., 1940 _ 102.20 102.22 .19
112 Mar., 1941_ 102.20 102.22 .33
1A, June. 1941_ 102.15 102.17 .38
IV, Dec., 1941 _ 102.11 102.13 .46
Is, Mar . 1942 _ 103.18 103.20 .64 i
2 Sept., 1942 _ 104.19 104.21 .66
1*4 Dec.. 1942 _ 103.20 103.22 .83
1 */a June, 1943 _ 100.29 100.31 .92
Federal Land Banks
NEW YORK, Nov. 18 UP).—Federal Land
Bank bonds:
Bid. Asked.
4s July. 1946-44_111% 111%
3%s May. 1955-45_105% 105%
3s July, 1955-45_104'« 104%
3s Jan.. 1956-46_104% 104%
3s May, 1956-16_104'/, 104%
Metal Market
NEW YORK. Nov. 18 VP).—Copper
steady: electrolytic, spot. 11.35: export,
10.76%. Tin steady; spot and nearby.
46.30: forward. 46.35 Lead steady; spot.
New York. 5.10-15; East 8t. Louis. 4.95.
Zinc steady. East St. Louis, spot and
forward, 5.05. Pis Iron, aluminum an
timony. quicksilver, platinum and Chinese
wolframite unchanged.
Farm Buying Power
Near 1937 Levels,
Institute Finds
Drop in Income Offset
By Lower Prices for
Goods Purchased
Special Dispatch to the Star.
NEW YORK, Nov. 18.—The price
index of farm products, on the basis
of 1929 as 100, rose from the reces
sion's low of 63 0 in August to 65.1
in September, according to the Alex
ander Hamilton Institute.
Although the price level was still
19.4 per cent lower than in Septem
ber last year, when the index was
80.8, an increase of 12.0 per cent in
the quantity of farm products mar
keted offset to a considerable extent
the drop in prices. Consequently,
farm cash income from marketings
in September was only 9.7 per cent
smaller than in the corresponding
month last year, declining to $737,
000,000 from $816,000,000.
Farm income in September made
a more favorable year-to-year com
parison than in a number of previ
ous months this year. This is indi
cated by the fact that, for the first
nine months, farm income from
marketings totaled $5,044,000,000 this
year as against $5,820,000,000 last
year, a decrease of 13.3 per cent.
The improved showing in September,
with a drop of only 8.7 per cent
from a year ago, is accounted for
by the fact that a deflationary move
ment was in progress last year while
this year, deflation is being held in
check by inflationary measures.
Government benefit payments to
the farmers in September amounted
$27,000,000 as against only $5,000.
000 in the same month last year.
This increase in benefit payments
offset part of the decrease in in-.
come f<om marketings. Conse
quently tii? farmers' total cash in
come in September amounted to
$763,000,000 this year as compared
with $821,000,000 last year, a de
crease of 69 per cent.
This decrease in total farm in
come was nearly offset by the lower 1
level of prices paid by farmers for
the goods which they bought. Such
prices in September averaged 6.2 per
cent lower than in the same month
last year. The farmers’ purchasing
power was consequently less than
one per cent smaller than a year
ago. This was a considerably better
showing than in previous months
of this year. This is shown by the
fact that the farmers’ purchasing
power in the first nine months was
7.3 per cent smaller than a year ago.
Clarence Woolley Quits
American Radiator
Bj the Associated Press.
NEW YORK. Nov. 18.—'The resig
nation of Clarence M. Woolley as
president and chairman of the
American Radiator & Standard
Sanitary Corp. was announced to
day.
He is succeeded by Henry M. Reed,
president of the subsidiary, Stand
ard Sanitary. Rolland J. Hamilton
continues as president of American
Radiator Co., a subsidiary, and as
vice president, secretary and treas
urer of the parent company.
Woolley, 75 years old, retired be
cause of age.
-9 —
Two New Yoric Issues
Placed on Market
Special Diapatch to Tha Star.
NEW YORK, Nov. 18—Special
offering of $2,330,000 State of New
York fully registered grade-crossing
elimination bonds, bearing interest
rates of 2>* to 3 per cent, is being
made by a banking group comprising
Bankers Trust Co., Ladenburg,
Thalmann & Co.: R. W. Pressprich
& Co.. Kidder, Peabody & Co.: E.
H. Rollins & Sons, Inc.: B. J. Van
Ingen & Co., Inc.; Equitable Secur
ities Corp. and Burr & Co., Inc.
Offering also is being made of
$1,060,000 State of New York reg
istered 3 >4 per cent bonds by a
banking group comprising Lehman
Bros.. Kean, Taylor & Co.; Manufac
turers & Traders Trust Co. and
Campbell, Phelps & Co. The bonds
are priced to yield from 2.20 to 2.25
per cent for maturities ranging from
1965 to 1974.
Dixie-Vortex Orders
Interim Dividend
B» tnc Associated Press.
CHICAGO, Nov. 18.—An interim
dividend of 25 cents a share on the
common stock was declared by the
Board of Directors of the Dixie-Vor
tex Co. here. Payment will be made
January 17, 1939, to stockholders of
record January 6.
At the same session, the board
declared the regular quarterly divi
dend of 62 V2 cents a share on the
class A stock, payable January 3,
1939, to stockohlders of record De-'
cember 31, 1938.
Reichsbank Statement
BERLIN Nov. 18 i/P).—The Reichsbank
statement as of November 17 (In thou
sands of reichsmarks): Notes in circu
lation. 7.208.700: decrease. 214.300. Gold.
20.700. unchanged. Foreign currency re
crease. 204.400. Other daily maturing
of exchange and checks. 0,755.700; de
crease. 204.300. Other daily maturing
obligations. 048.700: increase. 30.800.
Advances. 20.000; decrease. 0.000. In
vestments 548.200: unchanged. Ratio of
gold and foreign currency to notes. 1.1 per
cent. Rate of discount, 4 oer cent.
- ■ ■
Tobacco Markets
By the Associated Press.
Poundage and price averages reported
yesterday by old belt tobacco markets In
Virginia follow:
Danville _600.247 *19.70
South Hill_ 58.570 18.51
•South Boston_339.000 17.47
•Wednesday's sales.
Money in Circulation
Eases Moderately
After Big Rise
Return Flow of Cash
After Holiday Cited
As Major Factor
By the Associated Press.
The recent rise of money in cir
culation to almost unprecedented
levels was reversed slightly in the
week ended November 16.
The Federal Reserve Board said
money in banks and in the hands of
the public declined $32,000,000 to a
total of $6,732,000,000 in that week.
For a few weeks before that, the
total was higher than at any time
except for the two weeks after the
national bank holiday in March,
1933.
Board experts said that the de
crease probably was due to the re
turn flow of cash taken out by the
banks and the public in the preced
ing wfcek in preparation for the
Armistice Day holiday. Circulation
customarily rises just before a holi
day and declines after it.
me circulation decrease, as well
as Treasury spending and gold pur
chases caused an increase of $130,
000.000 to a total of $3,260,000,000
in the lendable excess reserves of
banks during the same period. The
increase brought idle funds within
$20,000,000 of the year's peak.
The board's statement said:
‘‘During the week ended Novem
ber 16 member bank reserve bal
ances increased $181,000,000. Addi
tions to member bank reserves arose
from decreases of $32,000,000 in
money in circulation. $34,000,000 in
Treasury deposits with Federal Re
serve banks. $16,000,000 in Treasury
cash and $6,000,000 in non-member
deposits and other Federal Reserve
accounts, and increases of $71,000,
000 in gold stock and $21,000,000 in
Reserve Bank credit. Excess reserves
of member banks on November 16
were estimated to be approximately
$3,260,000,000. an increase of $130,
000.000 for the week.
Changes in member bank reserve
balances and related items during
the week and the year ended No
vember 16. 1938, were as follows (in
millions of dollars):
Increase or decrease since
Nov 16, Nov 9. Nov IT.
J JP38 1938 1937.
Bills discounted 7 — 1 _ j*»
Bills bought 1 _ — 2
U. S Govt, securi
t U£* , „ "-564 - + 9
Indus trial ad
vances i not in
f I ud ing «M -
turn.non com
m l t mrnta
November 1*;> 15 _ — 4
Other Reserve Bank
credit 3 -- 21 4 8
Tola! Reserve Bank
credit 2.590 21
Gold stock 14 162 71 - 1.373
Treasury currcnsy 2 756 1 145
Member bank re
serve balance^ 8 727 181 1 Su5
Money in circula
tion 6 732 — 32 198
Treasury rash 2 721 — 16 — 912
Treasury deposits
with Federal
Reserve Banks 544 — 34 4 409
Non - member de
posits and other
Frdera’ Reserve
accounts 784 — 6 4 19
— . •
Little Change Expected
In Tobacco Quota
B* the Associated Press.
BLACKSBURG. Va.. Nov. 18 —
Virginia's State marketing quota lor
flue-cured tobacco lor 1939. under
the A. A. A. plan on which growers
will vote December 10. is expected
to be substantially the same as this
year's 70.000.000 pounds. S. K. Cas
sell. secretary of the State A. A. A.
Committee, said.
Individual quotas for both flue
cured tobacco and cotton for 1939 are
being worked out now by county
committees in an effort to inform
each grower what his allotment will
be for next year before he votes on
whether to continue the quota sys
tem.
For cotton. Virginia quotas will be
determined for acreage only. For
tobacco, poundage quotas will be
determined. Acreage allotments for
flue-cured tobacco growers, however,
will be set under the soil-conserva
tion phase of the Federal agricultural
program.
Wheat quotas, which were de
termined about two months ago for
1938. will be calculated for 1939
probably early in January, Cassell
said.
■ ■ •- —.
Talcott Dividend Voted
NEW YORK. Nov. 18 (Special).—
Directors of James Talcott. Inc.,
general factors, have declared a
dividend of 15 cents per share on
the common stock, payable Janu
ary 1. 1939. to stockholders of record
December 16. 1938. and a dividend
of 6834 cents per share on the $50
par 5'2 per cent participating pref
erence stock, also payable January
1, 1939. to stockholders of record
December 16, 1938.
5% PLUS s A F E T Y
The Suburban District Building
and Loan Association of
Silver Spring, Md.
Has always paid 5%. Money deposited
in this Association will be invested in
but one kind of loans—loans that are
insured under the terms of the Na
tional Housing Act.
Member. Federal Home Loan Bank System
8433 Georgia Ave. Shepherd 5200
MONEY
Each account here is pro
tected by Insurance to
$5,000. Also, by con
servative First Trnst notes
on improved properties.
This is double security for
your funds. Liberal divi
dends paid semi-annually.
Any amount accepted.
NORTHWESTERN FEDERAL
SAVINGS & LOAN ASSN.
Office, No. 1
Colorado Bldg.
(Lobby Floor)
14th & G St*. N.W.
Branch Takoma Park
Phone No. 7335
u Sh. 2693
Hamilton Watch
Orders Dividend
Of 40 Cents
By the Associated Press.
LANCASTER, Pa.. Nov. 18.—Ham
ilton Watch Co. directors yesterday
declared a dividend of 40 cents on
common stock, nayable December
15 to holders of record December 2.
Dividends of 25 cents were paid in
each of the three preceding quar
ters.
The board also voted a Christmas
bonus of one week’s pay to all em
ployes other than executives who
have been with the company one
year or more. To employes with
the company less than a year di
rectors voted a bonus of one-twelfth
of one week's pay for each month
with the company.
1 The bonus is payable December 1.
| As of December 31 last the com
| pany had 2,090 employes.
-»
Shippers Are Urged
To Join Efforts for
Railroad Aid
Bell Warns U. S. Control
Or Ownership Likely
Without Relief
By the Associated Press.
NEW YORK. Nov. 18.—Warning
Federal control or ownership may
be necessary unless railroads get
immediate relief. James F. Bell,
chairman of General Mills. Inc.,
Minneapolis, urged shippers yester
day to unite in an effort to restore
the carriers to profitable operation.
In a speech before the National
Industrial Traffic League he said
getting the railroads back on their
feet financially may mean paying
temporarily higher shipping rates.
“I believe," he said, "that the
long-time solution of the entire
transportation problem is rather in
lower than in higher rates. It very
frequently happens, however, that in
obtaining our objectives we have to
take preliminary steps that seem to
point in thd opposite direction."
Once the carriers are operating
profitably again, he suggested, the
industry could tackle the elimina
| tion of duplicate transportation fa
cilities and other long-range prob
\ lems.
Competition with motor and water
, carriers, he held, should be equal
■ ized "either directly through grant
! ing higher rates to the railroads or
indirectly by giving them the same
subsidy advantages as their com
petitors.”
! He proposed that representatives
of leading shipping groups get to
• get her and formulate a program to
tide the carriers over their crisis
and bring them back to profitable
operation
Bell heads the Nation's largest
flour nulling combine, with mills
and distribution units in many cities,
mainly in the Middle West and
Northwest.
Stock Issue Sold
! NEW YORK. Nov. 18 (Special!.—
j Blyth Co.. Inc. announced today
that an issue of 90.000 shares of
common s:.x-k of Line Material Co.
offered at $15.75 per share, had all
been sold and the books closed.
Montreal Silver
MONTREAL. Nov IS T*. — Silver futures
opened ldn advance. November. 4‘JTiO bid.
ATTENTION!
Krai Estate Braktr*. Property Owner*.
Electric repair* of all description*
within 1 hcnr'o notice.
PENN ELECTRIC CO., INC.
IMS 11th N.W. NAIL. *512
Estimates cheerfully riven on installations
For Investment Funds
First Trust
Notes Secured
On Conservatively
Appraised Properties
MOSS REALTY COMPANY
Realtor
Tower Bide. Met. 1770
WE SELL, BUY OR EXCHANGE
OFFICE FURNITURE
Desks Steel Files
Tables Steel Cabinet*
Chairs Ssfes
BAUM'S OFFICE FURNITURE
nit; Eye M N.W (Nett to Post Office!
SA 2181 Vo Branch Stores
Mortgage
Investments
Secured on New Home*
Conservative
Paying Intermit
Chas. D. Sager
Since 1910
924 14th N.W. National 0036
FEDERAL
HOUSING INSURED
LOANS QUICKLY
SECURED
Eliminate needless red
tape here, where your
application will receive
prompt and courteous
attention.
Payments of $8.40 per
$1,000 (approximately)
include interest, reduc
tion of principal, taxes,
insurance and water rent.
Shannon & luchS]
Mortiaco Loan Corrnpondenti
Maaoju-huseUt Mutual
Life Insurance Co.
1505 H Si. N.W. Noil 2345
Retail Sales Boosted
Sharply by Colder
Weather in Week
National Volume Down
Only 1 to 6 Per Cent
From Year Ago
Bt the Associated Press.
NEW YORK. Nov. 18 —Advent of
colder weather following the early
November “hot wave” helped to lift
the volume of retail trade substan
tially during the past week. Dun &
Bradstreet reported today in their
weekly business review.
Lower temperatures, it was noted,
“brought gratifying results to de
partments that had been hardest
hit in recent weeks.
"As National Fur Week was co
incident with the wintry weather,
numerous stores reported gains in
this line of as much as 30 to 50 per
cent over the previous week.
“Men's wear experienced the first
substantial upturn in sales in two
months; overcoats, gloves, mufflers
and heavy underwear all sold in
large quantities.
“Although the preceding week was
a hard one to beat because of spe
cial sales on the holiday, most of the
leading cities reported an increase in
trade.
“Estimated volume for the coun
try as a whole was 2 to 5 per cent
above the previous week and no
more than 1 to 6 per cent below last
year.
"Mail orders received in whole
sale markets were heavier for sea
sonal as well as for holiday mer
chandise. Buyers who had been do
ing little more than sampling goods
for Christmas sales increased the
size of their orders on individual
lines, at the same time covering a
wider variety of merchandise.”'
Clearing House Group
To Meet at Luray
epecia/Dlspatch to the Star.
WINCHESTER. Va„ Nov. 18.
Many problems facing bankers under
new Federal and state regulation:
will be explained at a dinner meet
ing of the Regional Clearing House
Association at Luray November 21
it was announced today bv John I
Sloat, Program Committee chair
man.
Houston H. Newman, Edinburg
group president, will preside.
Principal speakers will be R. W
Knuckles, chairman of the Educa
tional and Public Relations Com
mittee of the Virginia Bankers' As
sociation. and J. Hammond Siler, of
the bank relations department of
the Federal Reserve Bank of Rich
mond.
Banks of Frederick. Clarke. War
ren. Shenandoah and Page Counties
are members of the association.
Money for Construction Loans
and
Loans on Existing Properties
5%
nnsT deed or must only
6E0R6E I. RORGER
MS IbAIbbb Arc. N.W.
Nat'l OSAO
REAL ESTATE
LOANS
Before you buy, build, re
model or refinance your home
or business property, let us go
over your problem with you.
We will save you commissions
and renewal charges—and in
joining this Association, you
share mutually in the profits.
NORTHERN LIBERTY
BUILDING ASSOCIATION
ill SEVENTH STREET. N. W.
Establishtd 46 yean
MEMBER OF
FEDERAL HOME LOAN BANK SYSTEM
D C. BUILDING AND LOAN LEAGUE
U S. BUILDING AND LOAN LEAGUE
LIBERAL
DIVIDENDS
PLUS
INSURED
SAFETY
At Interstate every ac
count up to $3,000 la
fully insured and earns
liberal dividends that
are credited semi-an
nually. Hundreds of
Washingtonians now
save at Interstate.
Inquiries are invited.
INTERSTATE
BUILDING ASSOCIATION
Washington Building
15th St. A Now York A*a»
District 9486
Bargains in Nearby Maryland Properties
Small cath payments—balance fi
nanced at no cost to the purchaser.
cegnn nn 2 story, 6 rooms and bath, cellar, hot-water
ojouu.vu heat, frame dwelling, with one-half acre of
ground, beautifully shaded in Riverdale.
nn I Story, 4 rooms and bath, frame dwelling,
vvuUViUU one b]'ock from the Edmonston Road in East
Riverdale. A convenient location to buses and
stores.
coonn ftfi l storv, five rooms and bath, frame dwelling
$J£UU.UU .n Riverdale Heights.
WALTER D. WELSH, Agent
18 Johnson Ave.,
Hyattsville, Md. Tel. GR. 3785
Loans
ON IMPROVED D. C. PROPERTY
Immediate attention on your application foe
buying, rebuilding or refinancing.
Loans repayable monthly.
No charge for appraisal if loan is not made.
Interest charged only on unpaid balance of
principal.
Equitable Co-operative
Building A ssociation
915 F ST. N.W.
OrnnlMd 1S79
Money to Loan on First Mortgages
First Mortgage
Money
On Easy Terms
If you want a construction loan for
building in the District or nearby
Maryland or Virginia, we have it
available in any amount—and upon
either one of two attractive plans—
3-Year
Straight Loan
The Monthly
Payment Plan
We will explain both if you will con
sult us; and advise which will best
suit your particular needs.
B. F. SAUL CO.
National 2100 925 15th St. N.W.
Over 45 Years of Experienced Service

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Evening star. [volume], November 18, 1938, Page A-23, Image 23
About Evening star. [volume] (Washington, D.C.) 1854-1972