Evening star. [volume], August 14, 1939, Page A-17, Image 17

About Evening star. [volume] (Washington, D.C.) 1854-1972

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SPECIAL NOTICES.
I WILL NOT BE RESPONSIBLE FOR ANY
debt* other than those made by myself
PAUL H MEYERHOEFFER 44.1 15th at.
P.e.___15*
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and packer White and yellow tree stone
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Private Waiting Rooms
Rot*. B. Scott. Dental Tech Rm.v 901-902.
Wearory Blde__605 14th_ *t_F Met 198.1
GEORGIA BELLE PEACHES
AT QUAINT ACRES.
Choice white. free-stones for canning.
Weserves etc , . , .
Vegetables in large variety picked freih
daily from our 200-acre farm.
Silver 8nrinc Colcsville pike Route 29.
_Only 12 miles from the White House _
A DEAL FUNERAL AT $75
Provides same service as one costing *500.
Don't waste "insurance money Call DEAL
with 25 years’ exDtrience. Lincoln 8-UU.
_LEGAL NOTICES._
ELWOOD H SEAL and
WALTER I.. FOWLER.
Attorney* for Petitioners.
TV THE DISTRICT COURT OF THE
United State? for fhe District of Colum
bia - TN RE Condemnation of land for
the widening of Sheridan Street between
Eastern Avenue and SI’po Mill Road N E .
for the extension of Eastern Avenue be
tween Sheridan Street NE and Vihittier
Street N.W. for the extension of Kansas
Avenue between Nicholson Street N.W. and
Eastern Avenue N E . for the extension of
Quackenbos Street between Blair Road and
Kansas Avenue N.W . for the widening of
Blair Road northerly from Sligo Mill Road
N W and at North Capitol and Nicholson
Streets and for the widening of North Da
kota Avenue southeasterly from Peabody
Strep’ N W. in the District of Columbia --
^ DISTRICT COURT No. 2«11—NOTICE
AND ORDER OF PUBLICATION.—Notice
is herebv given that the commissioners of
the District of Columbia (pursuant to a
certain provision of the Act of Congress,
approved March 4 1813. entitled “An Act
making appropriations for the expenses of
the government of the District of Columbia,
for the fiscal ypar ending June 30th. 1914
and for other purposes whereby they are
authorized to open extend or widen any
street, avenue, road or highway to con
form with thp plan of the permanent sys
tem of highways in that portion of the
District of Columbia outside of the cities
of Washington and Georgetown adopted
Under the Act of Congress approved March
i Rprt. a? amended by the Acts of Con
gress approved June 28. 1898. and May
or. ip-?»v respectively, by condemnation
■ under the provisions of subchapter 1 of
Chapter XV of the Code of Law for the
District of Columbia' have filed a petition
in this Court praying the condemnation of
the land necessary for the widening of
Sheridan Street between Eastern Avenue
and Sligo Mill Road N E . for The extension
of Eastern Avenue between Sheridan Street
NF and Whittier Street N.W.. for The ex
tension of Kansas Avenue between Nichol
son Street NW and Eastern Avenue N.E..
for the extension of Quackenbos Street
between Blair Road and Kansas Avenue
N W for ’he widening of Blair Road
northerly from Sheo Mill Road N.W and
at North Capitol and Nicholson Streets
and for rh° widening of Nor'h Dakota Ave
nue soul h easterly from Peabody Street
NW in the District of Columbia, as shown
on * map or Dial filed with the said peti
tion as a part thereof and praying also
that this Court empanel a jury in ac
cordance wuh the law provided for in such
cases to assess the damages each owner of
the land to be taken may sustain bv rea
son of the said widening d Sheridan Street
between Eastern Avenue and Sligo Mill
Road N F . for the extension of Eastern
Avenue between Sheridan Street NE and
Whittier Street N.W for the extension of
rva. sn' avruur uriwtr;; .'ir. uui.'uu onrn
NW and Eastern Avenue N.E.. for the ex
tension of Quackenbos Street between Blair
Foad and Kansas Avenue N.W . for the
widening of Blair Road northerly from
Sligo Mill Road N.W. and at North Capitol
and Nicholson Streets and for the widening
of North Dakota Avenue southeasterly
from Peabody Street N W in the District
of Columbia, and the condemnation of the
land necessary for the purposes Thereof,
and to assess the benefits rosulting 'here
from. plus all or any part of the costs and
expenses of said proceedings, upon any
lands which the jury may find will be
benefited, as provided for in and by the
aforesaid Art of Congress approved May
2R 19*26. it is. by the Court, this 29th day
of June. 1939. ORDERED That all per
sons having any interest in these proceed
ings be and they are hereby warned and
commanded to appear in this Court on or
before the 11th day of September. 1939.
af 10 o'clock A M and continue in at
tendance until the Court shall have made
Ite final order ratifying and confirming
the award of damages and the assessment
of benefits of the tury to be empaneled and
sworn herein; and it is further ORDERED
That a copy of this notice and order be
published twice a week for two successive
weeks in The Washington Evening Star,
the Washington Post and th« Washington
Herald, newspapers published in the said
District, commencing at least twentv days
before the said 11th dav of September
1939 It Is further ORDERED That a
copy of this notice and order be aerved by
the United States Marshal, or his deputies,
upon earh of the owners of the fee of the
land to be condemned herein, as mar be
found by the «aid Marshal, or his deputies,
within the District of Columbia, and upon
the tenants and occupants of the same,
before the said 11th day of September
AD 1939 BY THE COURT: ALFRED
A WHEAT Chief Justice. 'Seal > A true
copy Test: CHARLES E STEWART Clerk.
By H B DERTZBAUGH. Assistant Clerk.
anl4.lT.ei.24_
j. n BROOKS,
Attorney.
IF THE MATTER OF THE MURRAY GAL
leries.—Partnership No lin—This is
to give notice that a cer'ain Limited Part
nership Agreement, was filed with the Clerk
of the District Court-of the United States
for the District of Columbia on August 7.
1939. wherein- 1 Murray Starbecker. 4519
Georgia Ave N.W . Washington. D. C is
a general partner, having contributed
V- 500 capital. 2 Edward R 8ea!. 3363
Eighteenth St NW. Washington. D C. Is
a limiied partner having contributed
$2 500 capital 3 The partnershio shall
run from July |. 1939. to July 1. 1949 4
The business \k to be conducted under the
name of The Murray Galleries'- ar 1724
2brh St NW Washington D C bv the
general partner, with a total capital of
$5,000 5 The nature of the business to
be conducted is that of general dealers in
and commission agents for antiques rugs,
furniture jewels and personal property, as
enumerated in the said Agreement MUR
RAY STARBFCKER EDWARD R SEAL.
au 14 16.18.21.23 25.28.30.se 1.4.6.8_
EL WOOD H. SEAL and
WALTER L. FOWI.FR.
Attorneys for Petitioners.
IN THE DISTRICT COURT OF THE
United States for the District of Colum
bia — IN RE Condemnation of land to
Complete the extension of 18th Street be
tween Fairlawn Avenue and Minnesota
Avenue SE and P street between 18th
Street and Naylor Road S E for the ex
tension of Q Street between 17th and 19th
Streets SE for the widening and exten
sion of R Street between 17th and 19th
Streets SE and 8 Street between 16th and
18th Streets SE and for the widening of
19th Street at P Street S E and Naylor
Road between 10th and P Streets SE in
the' District of Columbia.—DISTRICT
COURT No 2610 —NOTICE AND ORDER
OF PtmT TPiTTOX Wnt l/’c tc Horohu ch on
that the Commissioners of the District of
Columbia (pursuant to a certain provision
of the Act of Congress, approved March 4.
1911. entitled 'Aji Act making appropria
tion* tor th£ expenses of the government
of the District of Columbia, for the fiscal
year rnri'ng June 10th. 1914. and for other
purposes." wherebv »hey are authorized to
open, extend, or widen any street, avenue,
road or highway to conform with the plan
of the permanent system of highways tn
that portion of the District of Columbia
outside of the cities of Washington and
Georgetown adopted under the Act of
Congress approved March 2 1899. as
amender bv the Acts of Congress approved
June 28 1898. and May 28. 1928, re
spectively. by condemnation under the
provisions of subchapter 1 of Chapter XV
of the Code of Law for the District of Co
lumbia >. have filed a petition in this Court
prayine the condemnation of the land
necessary for the extension of 18th Street
between Fairlawn Avenue and Minnesota
Avenue 8E and P Street between 18th
Street and Naylor Road SE and for the
'extension of Q Street between 17th and
19th Streets SE for the widening and
extension of R Street between 17th and
19th Streets SE and S Street between
1 *>th and 18th Streets SE and for the
widening of 19th Street at p Street S.E
and Naylor Road befween 19th and P
Streets SE In the District of Columb’a.
as shown on a map or plat filed with the
wa d petition as a part thereof and pray
ing also that this Court empanel a Jury
in accordance with the law provided for
in *uch cases to assess the damages each
ownpr of the land to be taken may sustain
by reason of the said extension of 18th
Street between Fairlawn Avenue and Min
nesota Avenue SE and P Street between
l^th Street and Naylor Road. SE : for the
extension of Q Street between 17th and
19th Streets SE: for the widening
and extension of R Street between
1-th and 19th Streets SE and S Street
between l«th and 18th Streets SE and
for the widening of 19th Street at P
Street S F. and Naylor Road between 19th
and P Streets S.E. in the District of Co
lumbia. and the condemnation of the land
necessary for the purposes thereof, and to
assess the benefits resulting therefrom, plus
all or any part of the costs and expenses
of said proceedings, upon any land* which
the tury may find will be benefited, as
provided for in and by the aforesaid Act
of Congress approved May 28 1926. it is.
by the Court, this 29th day of June. 19.99.
ORDERED: That all persons having any
interest in these proceedings be and they
are hpreb*’ warned and commanded to
appear in this Court on or before the 11th
day of September 1999. at 10 o’clock AM ,
and continue in attendance until the Court
shall have made its final order ratifying
and confirming the award of damages and
the assessment of benefits of the jury tc
be empaneled and sworn herein; and it i?
further ORDERED: That a copy of this
notice and order be published twice a week
for two successive weeks in The Washing
ton Evening Star, the Washington Post
and the Washington Times-Herald news
paper* published in the said District, com
mencing a« least twenty days before th*
gaid 11th day of September. 1939. It ii
further ORDERED That a copy of thi*
notice and order be served by the Uniter
State* Marshal, or his deputies, upon each
of the owners of the fee of the land to bi
condemned herein, as may be found by thi
said Marshal, or his deputies, within thi
District of Columbia, and upon the tenant:
and occupants of the same, before thi
&®id llth dav of September. AD 1999
BY THE COURT: ALFRED A WHEAT
Chief Justice. (Seal > A true copy Test
CHARLES E STEW*ART Cl*rk. By H B
DERTZBAUGH. Assistant Clerk.
aul4.2124
4 h
Indiana Standard Oil
Earns $14,979,694
In First Half
Profit Compares With
$17,749,093 in Same
Period Last Year
By the Associated Preas.
NEW YORK. Aug, 14—Standard
Oil Co. of Indiana and subsidiaries
reported today net profit for the six
months ended June 30 of $14,979,694, !
or 98 cents a capital .share, compared
with $17,749,093. or $1.16 a share, in
the like 1938 period.
Pacific Gas & Electric.
Pacific Gas & Electric Co. and
subsidiaries reported net Income
for the 12 months ended June 30 of
$25,026,324. or $2.74 a common share,
compared with $23,761,028, or $2.56 a
share, in the previous 12 months.
Household Finance.
Household Finance Corp.. con
ducting small-loan operations
throughout the Middle West and
East, reported consolidated net profit i
for the six months ended June 30 of
$2,961,484. or $3 41 a common share,
compared with $2,972,115, or $3.52 a
share, in the like 1938 period.
United Gas Corp.
United Gas Corp. and subsidiaries
! (controlled by Electric Power &
Light Corp. i reported net income
for the 12 months ended June 30
of $4,465,814. equivalent, after divi- j
dend requirements on the $7 first i
preferred stock, to $1.49 a share!
on the $7 second preferred stock, j
This compared with net income of j
*8.252.297. or $5.77 a share on the
$7 second preferred stock, in the
previous 12 months.
North American AViatinn.
North American Aviation, Inc.,
airplane manufacturers. reported
consolidated net profit for the six
months ended June 30 of $2,781,682,
or 81 cents a capital share, com- |
pared with $590,175, or 17 cents a
share, in the like 1938 period. J. H.
Kindelberger, president, estimated
! that unfilled orders at present total,,
about $32,000,000. This compares j
with orders totaling $19,005,329 on j .
June 30. 1939, and *14.952.853 on ■
June 30. 1938 I ,
- National Enameling.
The National Enameling &
Stamping Co. reported net loss of i
$230,996 for the first six months of i
! 1939. compared to a net loss of
$302 724 during the comparable 1938
period.
Ohio Oil Co.
Ohio Oil Co. and subsidiaries
placed net profit for the quarter
ended June 30 at $154,993. equal to
44 cents a share on the 6 per cent
cumulative preferred stock This
compared with net loss of $297,552
in the preceding quarter and net ]
profit of $1,391,368. or 9 cents a share '
on common stock, in the June quar
ter last year.
Washington Exchange
AFTER CALL.
Potomac Electric 5S", pfd.—1 at
114,
Riggs Bank common—3 at 2701*.
BONDS
PUBLIC UTILITY.
Bid Asked
Anacostia A Pot 5s 94*/* 97 Vt
Ana A Po: guar 6* . llu
Capital Traction 1st 5s_ 93 941«
! city A Suburban 5s __ _ 9497%
i Georgetown Gas 1st 6s_v 120 _
I Pot Blec Pow 3V*s . _ lObVfe
Washington Gas 5s 1960_129 _
Wash Rwy A Blec 4s 109 _
MISCELL ANSOTJS
Chevy Chase Club 1st *U» 104 _
Col Country Club 1st 4Us 103 _
Ter Kef Sc Wh Coro lat 4Us 103Vk _
STOCKS
PUBLIC UTILITY.
Bid Asked ,
Amer Tel & Tel »9)_ . 164'*
Capital Transit Co 133® 14
N A W Steamboat <4) t>«» 7U I
Poi Elec Pw 6 - Pfa (6) Ml 3* a
Pot Elec Pw 5’a r P!a 'o.50)*]l
Wasn Gas Lt com (1.501 - 29
Wasp Gas Lt pld *4.oO» 1". 108V*
Wash Ry A El com ' e3H) *690
Wash Ry A El old (5) Ml 6 _
BANK AND TRUST COMPANY
Amer Sec A Tr Co < e8 > 250 _
bank of Beihesda (.75)_ 29 _
Capital t4» _ 143
Com A Savings (ylO.OO)_ 264 . _
Liberty • «> 173 Vb 185
Lincoln (16) _200
Natl bav Tr (v3 00) 184 205 ;
Prince Georges Bk A Tr (.60) 18 22
Riggs (e8) 269 280
Riggs pfd (6' _ 10J V*
Washington (6* 1x2
Wash Loan A Tr (e8)_ 235 260
FIRE INSURANCE.
American (f6> 115
Firemen's (1.40) 27%
National Union (.75) 15Va 18Vb
TITLE INSURANCE.
Columbia (k 30) __ 12Mi -
Real Estate imH) __ _1 <0 --
ivlISCELLAN®CU8
Caroel Corp (2.00) 28 Va 34
La ns ton Monotype <4) 46 *0
LUIKU1I1 on* Ullll ' 'l.UV' ACT
Lincoln Svc prior pf < 3.50» 44 V* 52
Mergpnthaler Lino <p.50» 17 19V*
Peoples Dr S com ftj.001 38
Peoples Drug S pfd <6 50) bllO
Heal Esi M * G pfd (.4o)_ 5 *
Security Storage <5>_ 98 105
Ter Ref & Wh Coro <3> 60 --
Wdwd & Loth com < *2.00) 4fi 51
Wdw & LothroD ofd <7» 117
•Ex-dividend. , . ,
b Books closed. Stock* called for re
demption September 15. 1939.
r Plus extras e 2% extra f 3% extra,
g $14.00 extra paid December 20. 1938
k 20c extra m *1 50 extra.. P 50c paid
September 20. 1938 a #2.00 t»id in 1938
v $3 00 paid ao far this Tear. t *5.00
; extra
Short-Term Securities
i Reported by Smith. Barney A Oo t
Bid Asked. 1
Ala Gt South A 5s '43 JOPJa 110'^
Alleghany Corn Cv 5s '44 74H <5
American Tel A Tel 5',,s '43 1104a 110VS
Austin A Northwest 5s '41 52 5BVi i
Baldwin Loco Works 5s '40 10114 102
Central Foundry Os '41 BO B8
Chi Union Station 4s 44 lOfl'/a 10.
Container Corn 5s '4.3 100 ]O0V«
Cuba North Rwys o'as -42 28 29
Delaware A Hudson 4s '43 58 58Va
Grand Rap A Ind 4'as '41 104'a
Illinois Steel 4'as '40 102',a 103
Inti Hydro-Electric 8s '44 83',a 84'a
Inter Mercan Marine fis 41 55*4 58
Lake Erie A Western 5s '41 82 88
Lehiah Val Ter Rwv 5s '41 54 a 85
Louis A Nash R R 4s '40 100', 100H
Mich Cen'ral R R 4s '40 99'. 100
Midland R R of N J 5s '40 p'a 12
N Y A Long Branch 4s '41 <4%
Pennsylvania Co 3‘aS '41 10.3*1,
Penn-Dixte Cement 6s '41 loo 101%.
Penna R R Co 4s 43 109, 10fl*»
Peop Gas Lt A Coke 6s 43 1 ! 6'-* 11.
Peoria A Eastern 4s '40 45 48V«
Phila. Balt A Wash 4s '43 III lll'f
Smdebaker Com 6s 45 90 91%.
Texas A’ New Orleans 5s '43 70
Union Oil of Calif 8s '42 114*. 115
Vanadium Com 5s '41 101 J-a 102
Warren Bros 6s '41 4("« 43V«
Western N Y A Pa 4s '43 108'. 107
White Sew Machine 6s 40 101'._
LOST.
i camera Contax: brown case: vicinity
West Lenox ave. and Conn. Liberal reward.
Wisconsin 4400 __
GLASSES, tortoise shell rim. in leather
| case. August r> corner Van Neas and
37th_sts._Reward. Emerson 8485._
PIN. diamond pendant; pear-shaped canary
diamond separate other diamonds: Satur
day night; 8200 reward to finder. Sandeg.
: Inc real estate agent. 2 Dupont Circle.
| Dupont_]234. _ _
i WILL THE MAN who found the golf clubs
I in his car contact Harry O'Donnell. 2402
: Southern ave . Baltimore Md.?_
PROPOSALS.
COMMISSIONERS D. C.. WASHINGTON.
August 14. 1039 Scaled proposals wtll ba
received at Room 509. District Building,
until 2 o clock p.m. August 28 1P3B E
S. T. and then publicly opened for’the
surface treatment of various streeta roads
and avenues with about 1 OT.OOO gallons
of asphalt and about 3.750 tons of crushed
slag covering material. Apply at Room
427. District Building, for Proposals and
specifications.
t
I
I
Foreign Uncertainties
Keep U. 5. Business
On Tenterhooks
Situation Regarded
As Worse Than Fear
Of Actual War
Bt GEORGE T. HUGHES.
Special Dispatch to 'Rie Star.
NEW YORK, Aug 14— In" the
opinion of many business observers
inemainty over whether it is to
>e peace or war in Europe is a
treater deterrent to farward plan
ting In business than fear of actual
var.
Needless to say, statistical evi
ience is lacking to support that
dew. but it is an understandable
nt nation which may well exist,
rhere can be no doubt that threats
if war have kept business, as well as
he security markets, no tenterhooks
or several months. There has been
10 real assurance in counting on
>eace. even though the balance of
inancial opinion has leaned to the
dew that peace will be preserved.
3v the same token it has hardly
ieemed necessary to lay plans defl
litel.v for possible war conditions.
The result, naturally, has been
i state of business affairs wherein
nany plans have likely been held in
ibeyance. But at the same time,
n the wholesale markets—if we
■hoose to read it that way—a cer
atn portion of recent forehanded
mying of merchandise may have
ieen done by those who want to
ie sure of their supplies if war
should come and should tempo
's rilv disrupt the orderly processes
>f production while the way Is being
•leared for the urgent needs of bel
ieerent.s
Big Purchases Likely.
As to what would happen should
teneral hostilities actually break out 1
n Europe, probably majority busi- j
less opinion would side with Dean |
John T. Madden, director of the
Institute of International Finance
if New York University, who re
'entlv declared that a European
war in which this country was not
nvolved could not affect the United
States adversely to any appreciable
fxtent during hostilities.
Dean Madden proceeds on the as
sumption that the Anglo-French
>roup would need to buy a great deal
rrom us and he does away with any
,dea that the allied democracies and
he neutrals will not have the where
withal for making such purchases by
pointing out that their “total of
gold and dollar assets is more than
me and one-half times as large as
the United States exports to the
allied and central powers and Can
ada during the period from July,
1914. to July, 1917.” He argues, fur
ther. that imports by the United
5tates from the belligerents and neu
trals will make available to the two
groups additional dollar balances.
Buying Power Seen.
“Thus.” he says, "the Anglo
French group and the neutrals, with
out borrowing in this country <and
such borrowing. In a great many
cases, is prohibited by the Johnson
Act), are now in a position to buy In
the United States at the present
price level much larger quantities
of goods than they were in 1914.”
But the fact that this purchasing
power exists and would become
effective for war materials and sup
plies in the event of hostilities doe*
not dispose of the thought that
business would be under the neces
sity of changing over from a peace
time to a war-time scheme of things,
with certain wide areas of activity
definitely losing by reason thereof.
Viewing broadly the period of
probable shock and drawing upon
nemory of what occurred at the time
the World War broke out. it may be
fair to assume that, if war should
come, business will be at its worst at
the outset of the conflict. That was
the case in late 1914. Recovery from
the chaos of early world War days
began early in 1915 and became
rather widespread before the end
of that year.
It may also be recalled that at no
time during the four years of World
War was business so depressed as it
had been soon after the beginning of
hostilities. And the peak of general
business activity for the entire war
period was rached in mid-1917,
shortly after the beginning of hostil
ities. And the peak of general bus
iness activity for the entire war
period was reached in mtd-1917,
shortly after the United States took
sides with the allies.
A
Fisk Rubber
Net for Half
Is $401018
By the Associated Press.
NEW YORK. Aug. 14 —Fisk Rub
ber Corp. reported net Income of
*401,018 for the first half of 1939,
equal to (58 cents a share on com
mon stock. This compared with
*172.298. or 15 cents a share, in the
comparable 1938 period. Col.
Charles E. Speaks, president, termed
the report the best in six years.
Plants are in Chicopee Falls and
New Bedford,.Mass.
Steadiness Is Displayed
By Insurance Stocks
Special Dispatch to The Star.
NEW YORK. Aug 14 — Insurance
stocks in the New York City mar
ket during the past, week closed
virtually unchanged from levels of
the previous week, according to rec
ords compiled by Hoit, Rose &
Troster.
The aggregate market value of
20 leading fire and cagualtv insur
ance issues on August 11 was $599.
367.000. compared with $599,944,000
at the close of the previous week,
a decline of $578,000 or 0.10 per
cent.
On August 11, the current aver
age yield of the 20 issues was 3 83
per cent, the current market value
was 104 times current reported
liquidating value, and quoted prices
for the 20 issues averaged 16.0 times
their combined reported eamihgs,
all unchanged for the week.
Lumber Orders Show
Gain Over Year Ago
Br the Associated Prow.
Reports to the National Lumber
Manufacturers Association showed
new orders for the week ended Au
gust 5 were 32 per cent greater than
last year's seasonal average. Pro
duction during the week was 17 per
cent greater and shipments 23 per
cent greater than last year's.*
During the week 512 reporting
mills produced 237.343.000 feet of
softwoods and hardwoods combined,
shipped 255.775.000 feet and booked
orders for 266.197.000 feet. Revised
figures for the preceding week were:
512 mills. 245.403 000 feet produced.
239.847.000 feet shipped and 258.736,
000 feet ordered.
Drop in Hide Futures
Stops Spot Purchases
By the Associated Press.
CHICAGO, Aug. 14.—No sales
were reported last week by big
packer* in the spot hide market. A
sharp drop in future* price*, rang- i
ing to 60 point* for the period in 1
New York, prompted tanners to
withdraw from the market.
Big packers sold hides at '» to
cent lower prices two weeks ago.
no sales having been reported *ince.
Trade W’as at a standstill and price*
quoted were nominal, with native
steels, butt branded steers and light
native cows around 11 to 11*4
cents and branded cows around
10>2 cents.
Futures prices in New York last
week declined 46 to 60 point* and
in Chicago dropped 23 point* for
the period.
_
New York Bank Stocks
Lower During Week
Special Dmpateh to Th* Star.
NEW YORK, Aug 14 -New York
City bank stock* moved to lower
level* during the past week, accord
ing to record* compiled by Hoit,
Rose & Troster.
The aggregate market value of 16
leading Issues on August 11 wa*
$1,439,743,000. compared with $1,
470,844.000 at the close of the pre
vious week, a decrease of $31,101.
000 or 2.11 per cent.
The current average yield of the
16 issues of 4.49 per cent com
pares with a yield of 4 39 per cent
on August 4. The current market
value equals 1.03 time* the known
book value against 1.05 times a week
ago.
Meat Packers Likely
To Show Moderate
1939 Profits
Standard Statistics Secs"
More Favorable Long
Term Outlook
Sprr tal Dispatch to Th« Star.
NEW YORK, Aug. 14 —The meat
packing industry, witty a few excep
tions. should report modest, profits
for the year to end November 1. ac
cording to the Standard Statistics
Co. of New York.
This forecast is made in the face
of the fact that most packers in
curred deficits or earned only nomi
nal profits in the first half of thetr
fiscal year. While earnings, in most
cases, will not be sufficient to prompt
favorable dividend action, the longer
term outlook is more encouraging.
Pending labor troubles are not be
lieved to Involve serious threats to
earnings.
Operations of meat packers so far
in the current fiscal year have been
considerably more successful than
those for the corresponding portion
of the previous year, when severe
inventory losses were incurred.
However, the relationship between
livestock and meat prices have not
been entirely satisfactory and trends
of pork prices have been generally
adverse. Hence, despite a relatively
sizable volume of sales, operating
results have not been impressive. In
all but exceptional cases, earnings
have been of only nominal propor
tions. A number of companies have
incurred moderate losses
Slaughterings Decline.
For the initial eight months of
the fiscal year, slaughterings of
sheep 'including lambs) and calves
were each 4 per cent below those
a year earlier, while cattle slaugh
terings were down 5 per cent. These
declines, however, were more than
offset by a 14 per cent increase in
hog killings. Meat supplies and
meat sales, consequently, have
shown an advance, and the sizable
overhead costs of the packers have
Men spread over a greater volume
>f business.
As a result of the reduced sup-:
sites and the higher aggregate of I
consumer income, prices for beef, (
■'eal, lamb and mutton have been j
ibove previous year levels, although j
comparisons for certain items re
Mntly have been unfavorable. Prices
For hog products, on the other hand.!
nave been lower, with lard show- j
ng particularly sharp declines. Un- j
;il recently, moreover, the trend of
:.hese prices has been generally
downward, causing losses on in-1
rentorles, especially in the case of
cured products.
Spread Inadequate.
On the whole, packers apparent
ly have been unduly optimistic In
the setting of prices paid for live
stock; not only have pork opera
tions been unremunerative, but the
Industry has suffered from a rather
inadequate spread between cattle
and beef prices.
A continuance of the upwardj
profit trend In the following year1
is possible, particularly if the de
mand for meat is increased by a
further expansion of consumer in- j
comes. Indications of increased
marketings of cattle and calves and j
the June pig crop report recently
released by the Department of Ag- j
riculture provide assurance of a
continued growth in the volume of
meat handled, while the heavy
supplies may reduce livestock costs
to a level permitting adequate prof
its. The major difficulty will lie
In the disposal of a heavy lard
output. Demand for this product
is less elastic than that for meat,
and consumption is stimulated only
moderately by low prices.
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I
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■■ ■ —— ■'
zzzJj- Don’t Be a ll==
Slave to
Your Property
★ _ _U ★
Let m *how yee how to borne** peer
i mortgage problem*, providing mere net i
^ income for yon. w
Mam bar or Waahaaatrm Meal Batata Board
1505 H St. N.W. Nat'l 2345
Jlenltori
---- ;
kOi' IK*
Improved
.Property
i
l
Equitable Co-operative
Building Association
915 F ST. N.W. ORGANIZED 1879
TO BUY . . . BUILD . . , REFINANCE
Check These Columbia Features
Interest S%*y,%*%
Lower Cost*—No Renewal*
Prompt Actios—No Red Tape UI^ShbI
Small Monthly Payments
Liberal Repayment Pmileyes
Tues and Insnranee May Bo PaM Monthly
Interest Computed on Monthly Balance of Loon
PaM Books Show New Loan Balance After Each Payment
Consul On* of Our Qfietrt
/. y>
London Bar Gold
LONDON. Au» 14 («.—Bar (Old 148s
7‘/id; up 1 penny. (Eflulvslent. $34.79.)
Bar silver. 17Ad; up (Boutvalent.
36.20 cents.)
The word “Bister” is a real Aryan
word.
Money for Construction Loans
and
Loans on Existing Properties
5%
stmt Bun or nm owlt
GEORGE I. BORGER
643 Indiana Ava. N.W.
Bat’l OSSS
REAL ESTATE
LOANS
on improved property in
D; C., nearby Md. and Va.
Low interest rates;easy month
ly payments; no commissions;
no renewal charges.
NORTHERN LIBERTY
ROUGING ASSOCIATION
»U SEVENTH. STREET. R. W.
Established 48 Years
MIMSES or
FEDERAL HOME LOAN BANK SYSTEM
C. BUILD!NS AND LOAN LEASUI
U. S. SUILOINB AND LOAN LEAGUE
Service With a Smile
Whether you are consulting with an execu
tive, or |ust following the regular banking
routine, you'll receive a friendly greeting.
The Second National Bank
OF WASHINGTON
1333 G St. N.W. 509 Seventh St. N.W.
Ort«m*«l 187 *2
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION
—in how easy you'll acquire the saving habit—when
you adopt
Interstate Building Association
“Share Accounts-9
Besides sharing in the Association's earned dividends—
which are distributed semi-annually—amounts up to
$5,dOO are insured.
Always glad to go into details.
Under V. f. Government Smpereieien
Washington District
Building 9486
I -1
LOANS MADE WITHOUT A
CammiiiioH Gluvuje.
In either buying or building « home, the first
consideration should be the matter of sound
financing on the most economical basis.
Our plan enables you to acquire sufficient
cash which may be repaid in small monthly
instalments including both principal and
interest.
We make no commission charge and there
is no future renewal expense. Our officers
will be glad to discuss your plans with you.
NATIONAL PEHMANENT
BUILDING ASSOCIATION
UNDER SUPERVISION OF UNITED STATES TREASURY
719 Tenth SL. N. W. (lust North of G) NAtionad 0254
i 3