Evening star. [volume] (Washington, D.C.) 1854-1972, October 18, 1939, Image 19

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Evening star. [volume], October 18, 1939, Page A-19, Image 19
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 18 Oct. 1939. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1939-10-18/ed-1/seq-19/>

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oALt: C n Monday, October 23, I j
1939, at twelve o'clock noon, in our
banking room, Munsey Building, 1327
i E Street N.W., Washington, D. C., we
will offer for sale to the highest bidder,
all cash, $1,500.00 first deed of trust
note secured on Lots 21, 22 and 23 in
Square C, North Beach, Calvert
County, Maryland, held as collateral.
The Munsey Trust Company.
24-Hour Service!
Letterpress or Offset
PRINTING
We specialize in
briefs, forms, pam
phlets. etc., styled to
your requirements.
RUSH Service!
Samples on request!
pasag _
- SL
MORTGAGE LOANS 1
Loan Correspondents <
| LINCOLN NATIONAL LIFE INS. CO.
; AMERICAN STANDARD LIFE INS. CO.
i
Walker ? Dunlop. Inc.
f FHA APPROVED MORTGAGEE
1200 15 ST. N. W. DIST. 0222
' h---fin
...—__
UNLISTED LEADERS
STOCKS
Botany Worsted Mills.
* Cuban Atlantic Sugar.
Eastern Corp.
Fairchild Eng. b Air.
Farnsworth Telev. b Radio.
Harrisburg Steel.
Midwest Refineries.
Mo. Kans. Pipeline.
Ralston Steel Cor.
Remington Arms.
Tennessee Products.
Triumph Explosives.
Vega Airplane.
West Indies Sugar.
Wickwire Spencer Steel.
Bought—Sold—Quoted
THOS. L. HUME
Established 1899
917 15th Street NA. 1346
!You can build
a financial reservoir
through a
“Share
I Account”
in the INTERSTATE
/BUILDING
l ASSOCIATION.
I It will grow easily and I
consistently — aug- I
mented by sharing in I
! the earned dividends I
. of the Association— " '
n which are distributed
\\ semi-annually.
\\ "Safetied Savings" —
\ for amounts up to
\ $5,000 are insured. \
Interstate
Building I
I Association 1
I Washington Bldg., |
II 15th and N. Y. Ave. I
11 Dl. 9486 I
V
h i
Weir Says 'Boom'
Is 'Strong as Filling
In a Cream Puff'
Holds Steel Prices Can't
Be Changed to Conform
To Political Desires
By the Associated Press.
NEW YORK. Oct. 18.—President
E. T. Weir of the American Iron and
Steel Institute believes the present
“business boom” is about as strong
and firm "as the filling in a cream
puff.”
In a speech to the American In
stitute of Steel Construction last
night he expressed belief there
would be no immediate advance in
steel prices and at the same time
declared steel costs are “hard and
unyielding facts” which cannot be
changed to conform to "political
desires in Washington.”
Mr. Weir said steel companies
could not long continue to absorb
the increasing cost of raw ma
terials, all of which have advanced.
These higher costs, he continued,
have been offset “only in parj.” by
faster operations.
Attacks “Federal Threats.”
Long an outspoken opponent of
what he terms Government inter
ference in business. Mr. Weir at
tacked what he said were threats
of "dire consequences to the steel
industry" in the event that steel
makers do boost their prices.
Asserting that a New York finan
cial paper *Wall Street Journal) had
quoted unnamed “economic advis
ers” to President Roosevelt as say
ing a "steel price advance and its
consequences would produce ‘irre
sistible’ pressure for new control
plans and other forms of govern
mental interference with business,”
Mr. Weir added:
“Whatever price action is to be
taken is a matter to be decided by
individual (steel i companies, and I
believe their decisions must be based
on urgent economic necessity rather
than upon political threats from
Washington.”
Si d V cr C 11
Declaring that higher raw mate
rial costs had been offset only in
part by the increased rate of oper
ations. Mr. Weir said that in the
first six months of 1939 average net
profits of steel manufacturers after
preferred dividends—a fixed charge
—were 27 cents a ton.
"These figures show conclusively,”
he continued, "that the steel indus
try has no margin from which to
absorb any large increase in costs.
* * * Costs and prices in the steel
industry are hard, unyielding facts
which cannot be changed at will to
conform to political desires in Wash
ington.”
Girdler Expects 'Bom'
To ‘Continue Indefinitely'
Ey the Associated Press.
YOUNGSTOWN, Ohio. Oct. 18
Tom M. Girdler. chairman of the
Republic Steel Corp.. said yesterday
he expected the current business
"boom” to continue indefinitelv,
crediting domestic and export busi
ness rather than war orders for the
upturn.
“This will hold up,” the steel ex
ecutive asserted, "unless there is
peace, and there is very little chance
of any peace.”
Mr. Girdler, here with other Re
public officers for an inspection of
the company s Youngstown proper
ties, said all Republic plants are
operating at full speed and are
booked up for a long time to come.
“We are even turning down a lot
of orders,” he said.
Washington Exchange
SALES.
Riggs Bank com —8 at 262. 1 at 262,
5 at 260‘2, 135 at 260, 1 at 260l2.
AFTER CALL.
Capital Transit Co.—3 at 13>4 25 at
12fi.
Washington Railway & Electric 4s—
ai iuu,
BONDS
PUBLIC UTILITY.
. Bid Asked.
Anacostia Pot os .. __ 944 97
Ana A- For guar 5s _ 109 j j3
Cap Traction 1st 5s_ 90 93
City & Suburban 5s _ 041, 97
Georgetown Gas 1st 5s 113
Pot Elec Pow 3Us ”* " 101
Washington Gas 5s 196077 118
Wash Rwy & Elec 4s_Ioq ZZZZ
MISCELLANEOUS
Che-v chase Club 1st 4 Us 102
Col Country Club 1st 4Us . 102 '
Ter Ref «Sc Wh Corn 1st 4 Us 100 ZZZZ
STOCKS
PUBLIC UrtLITY
Amor Tel A- Tel (0,. A*M
Capital Transit Co __ 12 4 13
N A: VJ Steamboat (4) 00 75
Pot Elec Pwr »>•< pfd (Q) 112
Pot El Pw 5 4', pfd (5 50) 112 1124
Wash Gas Light com (1.50) *28 294
Wash Gas Light pfd (4.50) 103
Wash Ry * Ei com ic30) 030
Wash Rwy & El pfd (5)_110
BANK AND TRUST COMPANY
Amer Sec A; Tr Co ies> 240 260
Bank of Bethesda <.75) __ 30
Capital (41 143
Com & Savings (yl0.00)777- 270
Liberty (0) _ 17 5 19A
Lincoln (f5) 777 200
Nat Sav & Tr (v3.om ~ j 77 205
Pr Georges Bk & Tr (.60).. 18 22
Riges UK) 258 0,35
Riggs pfd (5) 100
Washington t6) __37I ~ 120
Wash Loan <fc Tr (e8i ~7~ 238 250
FIRE INSURANCE.
American (+6) 115
Firemen's (1 40> _ 27
Natlona) Union (.75)__ 144 18'
TITLE INSURAlfc*.
Columbia (k,'!0> _ _ 13
Real Estate (m6) 170 ZZZZ
MISCELLANEOUS
Carpel Carp (2.00) 29 32
Lanston Monotype (4) :ix 4-"2
Lincoln Serv com (tl.OO) 19 22
Ltnc Ser prior pld (3.50) 45 so
mcim-ninaier Lino (p.oOi 17% IK
Natl MfK & Inv pfd <d.2D) 3% 4'/4
Peoples Dr Str com t +1.0(1) 30 35
Real Est M A- G old (.45) 5 7
Security storage (51 85 ino
Ter Ref A- Wh Coro (3) 58 65
Wdwd A Loth com <s2 (l(l)_ 40 53
Wdwd * Lothrop pfd (7) 118
•Ex-divtdend d 20c paid June 15. 1939.
* P’us extras e 2% extra f 3". extra
e$14uo extra Paid December 20. 1938.
K 20c extra m $1 50 extra p 50c paid
SeDi^1!5er -° !9:,s S *2 00 paid lr 1938
v .$.(.00 paid so far this year, y $5.00
extra
New York Bank Stocks
NEW YORK. Oct. 18 ij>i.—National As
sociation of Securities Dealers. Inc.:
Bk of Am NTS (SP) (2 40) 3Hld' **(8**'
Bank of Man (,80a)__ 18% 20%
Bank of N Y i!4>_ 446 456
Bankers' Tr (2)_ 58A, 60%
Bklyn Tr (41 _ _ 77 ro "
Cen Han Bk A- Tr (41 „ 104% 107%
Chase Nat (1.40)_ _ 37 30
Chem Bk A: Tr (1.80)_ 51% 53%
Commercial (8) _ 174 18o
Com Bk A- Tr (.80)_ 13% 15%
Corn Ex Bk a- T <:()__ 59% 60%
Empire Tr (00i_ 13% 141^
First Nat (Bos> (2)_ 46 48
Fim Natl 1100' 1905 1945
Guaranty Tr (12)_ 290 295
Irvine Tr (.60) 13% 144;
Manufacturers Tr (2)_ 39% 41%
Manufacturers Tr pf 12)_51% 53%
Natl City (1) _29% 31%
N V Trust |5) _ 116% 119%
Public (1%) - 31 % 33%
Title G A- T_ 3% 4%
Federal Land Banks
NEW YORK. Oct. 18 OP).—
4s July 1946-44 _110 110%
3%s May. 1955-46 _104% 105%
3s July. 1955-45 _ 104 1 04%
3s Jan.. 1956-46 _ 104 104%
3s May, 1956-48 _104 1^4%
mSSLm Bas.d Upon an lnd.x of Total Production in ♦haUn».dSW.s« irotx
Calculatod by tho Fadaral Rotorvo Board i«w»-ioa
1919 *20 "21 '22 *23 *24 "25 *26 '27 *28 '29 ’30 *31 '32 *33 ‘34 '35 '36 '37 '38 '39
__ _re—r—n i— —tteew— t— i
CHANGES IN FACTORY ACTIVITY—The above chart reviews industrial production in the United
States as reported by the Reserve Board governors.
Hanes Sees Need
01 New Capital
For U. S. Industry
Says Nation Was on Road
To Economic Recovery
Before Start of War
By the Associated Press.
NEW YORK. Oct. 18—John W.
Hanes. Undersecretary of the Treas
ury. told members of the Bond Club
of New York today he believed that
whether or not the European wa:
continues for some time “industry
is going to require new capital.”
“I think that we were on the
road to economic recovery prior to
I Poland,” he said. “Business activity
showed a strongly rising trend.
Moreover, there were further im
provements in prospect, due, among
other things, to the outlook for an
early and rapid increase in auto
mobile production, a rebound in
crude oil production and the prob
ability of replenishment of inven
tories owing to the low levels to
which they had ben reduced.
"In August the Federal Reserve
Board index of industrial production
had risen to 102. * • * The further
rise to about 110 in September was
aue only partly to the effects of the
war. * * *
“All this data points to the con
clusion that the present upswing has
not come directly Jrom war psychol
ogy and should not be wholly di
vested of domestic factors."
a 11. naaca aibu inanuiiic
turers in basic industries for their
reported resistence to speculative
war price advances.
The Treasury Department. Hanes
asserted, is trying to help business
by improving the country's tax sys
tem. Some 1,000 leaders in industry,
labor, commerce, banking and agri
culture. he said, had been offered
the opportunity to testify informally
in departmental hearings, digests of
which will be presented to the House
Ways and Means Committee.
He also said the Treasury several
months ago had recommended some
tax changes desired by business, now
incorporated into law.
| Foreign Exchange
NEW YORK. Oct. 18 «V — A brisk run
up in the belga put a little backbone in
the foreign exchange market toaay. After
recently selling at the lowest price for the
I year m relation to the dollar, the belga
sained .05 of a cent.
Other chief currencies idled along
within narrow limits Sterling and the
Swi.-.> franc were unchanged the French
franc moved up a bit and the guilder was
marked down narrowly
La* e rates follow. Great Britain in
dollar*, others in cents. Great Britain.
3 !*!• s*2; Great Britain, cable-. 3.!M»,'2.
6<)-day bills. -;.!*x1«: yn-day bills. 3.06 «;
Canada. Montreal in New York. 80.25
Canada. New Yoik in Montreal, 112.oo! *.
Belgium. 16.84. Denmaik. in 32: Finland.
l.:*5n France. 2.26-4 Germany. 4o.2nn:
benevolent. 17.75: travel, unquoted: Greece,
.74'.n. Hungary. 17.6nn: Italy. 5.05;
Netherlands. 53.11:^ Norway. 22.74:
Portugal. 3.7on: Rumania. 73n: Sweden.
25.83; Switzerland. 22.44; Argentina (of
ficial*. 20.77; Argentina (free . 23.55;
Brazil (official). d.«»5; Brazil <free>. 5.10:
Mexico. 21.((On: Japan. 23.65: Hong Kong,
25.15: Shanghai. 7.80; Yugoslavia. 2.3()n.
Rates in spot cables unless otherwise
indicated,
n Nominal.
Jersey City Livestock
JERSEY CITY. N. J.. Oct. 18 4/p>.—
(United States Department of Agriculture.)
—Cattle, total. 410; all salable. Cows and
bulls active, mostly steady: medium cows,
o.75-6.50: cutter and common. 4.25-5.50;
canners. 3.75-4.00; few 3.50! good sausage
bulls. 7.00-7.50; medium. 6.50-75: cutter
and common. 5.25-50. Steer receipts con
tinued to one fresh load and two carry
overs unsold early.
Vealers and calves. 280 salable: total.
1.060. Vealers steady good and choice
nearbys. 11.00-13.00; common to medium.
H.oO-lo.OO; culls. 5 00-7.50. Calves active
and steady: two decks good 275-pound
Southerns. ,.50: few common 250-pounas.
6.on.
Hogs. 80 salable (Jersey City. 20; New
York. 60): total. 2.130. Butcher hogs
mostly 10 higher: good and choice 20(3
pounds. 7.65.
Sheep ahd lambs. 310 salable: total.
4 .too. Lambs active, mostly 25 higher
good and choice. Of)-80-pound New York
States. 10.25: bucks. 1.00 less; few com
mon throwouts. 7.00: choice slaughter
ewes steady at 4.00.
U. S. Treasury Notes
4 YORK. Oct. IS i/P).—Prices quoted
in dollars and thirty-seconds:
Cent Mo. Year. Bid. Asked* Yield!
I3* Dec. 19:1!i_100.31 HU 1
l'» Mar. 1940_101.8 lot in
J '/■> June 1940- 101.14 101.10 ”
i nee. 1940- 101.25 101.27 II
’ll2 ¥ar' il'il-ln-l 102.3 .ill
1’« June 1941_ 102.2 102 4 09
l't Dec. 1941_ 102.13 102.15 'in
13< Mar. 1942_ 103.10 103.18 27
2 Sent. 1942_104 "5 104 "7 v>
134 Dec. 1942_ 103.27 103.29 50
1 « June 1943- 101.15 101.18 119
l'« Dec. 1943_101 15 101.18 74
34 June 1944_ 99.22 99.25 .75
Boston Wool Market
BOSTON. Oct. 18 OPI.—(United Slates
Department of Aericulture.)—Inquiries for
wool were showing some increase today
in the Boston market, but bids were de
cidcdly below last week s selling prices and
few holders were willing to accept the
prices offered.
An occasional lot of fine territory wool
in original bags was sold around Si.
SSSiSz b*s,s- ior. «p°d French combing
lengths and around 95 to 97 cents, scoured
fnaeISi.^(rh?v<,^e ^ short French comb
ing lengths. Sales, however, were mostly
very moderate In volume. “
Crude Rubber Futures
NEW YORK. Oct 18 (IF—Crude rub
ber futures ODened 29 to 38 higher De
189^.ri92do31’40' January' 1S50; M»rch.
London Gold and Silver
LONDON. Oct 18 i/Pi.—Bar gold. 168*.
unchanged (Equivalent $33.85 on the
basis of the dollar $4.(131. Bar silver.
2-’!8d. oft v, penny. (Equivalent 41.60
cents.)
United States Treasury Posi
By the Associated Press.
The position of the Treasury Oetot
year ago:
Receipts *_ _ _
Expenditures _
Net balance_t__
Working balance Included _ _
Customs receipts for month_
Receipts for fiscal year (July 1)_
Expenditures ____
Excess of expenditures_
Gross debt __ ___
Increase over previous day_
Gold assets_ -:_
Yuletide Bonus
Promised by
. General Foods
By the Associated Press.
NEW YORK, Oct. 18.—Some 9.000
employes of General Foods Corp.
were notified today they can expect
to add more than $270,000 to their
Christmas shopping budgets.
C. M. Chester, chairman of the
company, announced that employes
outside the "distributive group”
would receive “extra compensation”
December 15 "at least equal" to what
they received last December.
At that time, 8.500 employes were
given $254.000—a bonus of one week’s
extra salary each. This year the
same class of employes numbers
more than 9,000.
Chicago Livestock
CHICAGO. Oct JX <;p>.—Hogs were
steady 10 in higher m an active market
I today. There was a moderate supply of
! cattle and prices on yearlings and light
! weight steers were steady. Lambs were
! steady to strong.
Hug receipts in the open market totaled
i 11.(M>n or 4 300 fewer than a week ago.
I The market top was £?.;So and most good
and choice 2t)o to 300 pound weights soid
from the top down to £7.55. The average
i price was just above £7. compared with
\ £7.3p a year ago
Best fed yearlings held at *11.40. but
mo.>t weighty cattle sold at £5*.7.5 to £10.55.
! Stockers and feeders were active.
The top price on native lambs was £0 40,
with the trade mostly steady on all classes.
Sheep prices held about steaodv
• United S'ates Department of Agricul
ture i—Salable hogs 11.non. total 17 500;
light hogs active fully steady with Tues
days average: spots. 5-10 higher; others
mostly steady top. 7.50 bulk good and
choice UOo-300 pounds 7 55-50; 300-330
i pounds. T.oo-35 most 1xn-500 pound*,
t 7.15-35 bulk 570-330-pound sows. 0 *5
• T.oo: 330-450 pounds H 40-S5
Salable cattle 0 500 calves. l.OOO;
largely fed steer run very little done
i except on moderate supply light yearlings
| and handyweiehts, good to choice steers,
i ’hese steady; most long yearlings and me
! diurnweights and weighty steer* weak;
; common and medium grades light cattle
I steady at 5.50-7.50. strictlv prime long
yearlings held at 11.40; very little here
of value to beat 10.75. however: best light
j heifers 10.75. but most heifers in between
I selling at 10.Oo down: weighty steers up
j to 10 35: these scaling over 1 500 pounds
I but most cattle with weKht 0.75-10.55 in
I early rounds: liberal supply strictly choice
1 cattle here, beef cows weak: canners and
I cutters steady bulls strong: vealers steady
trt H'A3lr at 1 '* GO Hnwn ftnrlrnpc nni)
I feeders continue active at 8.50-10.00
! mostly.
Salable sheep 4.500: total. 5.500; late
Tuesday fat lambs. 15-25 lower sheep and
feeding lambs steady; top native lambs,
i 1* 40; bulk. 0 25; most Westerns. 9.35;
| 'lauRhter ewe*;. 3.00-85: good feeding
; lambs, h.85; today s trade mostly steady
on all classes: good to choice range lambs
mostly 0.35: natives. 0 25 down; few best
lot-> 0.35 and 0 40; good slaughter year
lings 7.50; slaughter ewes. 3.00-4 00: most
natives. 3 85 down, merely good weighty
Idaho feeding lambs, 8.50.
New York Produce
NEW YORK. Oct. 18 —Eegs. 17 222:
firm. Mixed colors, fancy to extra fancy.
28*2-33*. standards. 27*2-28: firsts. 21
‘.’2; seconds. 10-20. mediums. 18*_.: dirties.
No ]. 18*4 average checks 1 734. tp
frieerator. farvv and heavy weightR. 10*?
23*?: s'ar.dards. 10: firsts. 18*4-’?: sec
onds 17 *, 4 - 3 4. mediums. 1634: dirties.
1 6 * 4-34
Whites—Resale of premium marks 42* *
< 45. nearby and Midwestern, premium
marks. 39*?-42: exchange specials. 30: ex
change standards 33*i: resale of nearby
heavier mediums. 27*2-32: nearb^ and Mid
western. exchange mediums. 27: outlets.
20: peewees. 18; refrigerator, nearby spe
cials. 2 7-30. nearbv and Midwestern stand
ards. 25-27: firsts. 23-25.
Browns—Nearby fancy to e*tra fancy.
32*::-3*i, nearby and Midwestern, exchange
specials. 32; exchange standards 27* >-28:
nearby, exchange mediums, 23: pullets.
17-18.
Duck eggs. °6-27.
Butter. 070.800: easier Creamery, high
er than extra. 3o-3034: extra *02 score).
2934; firsts 188-91), 25-28 S; seconds <84
87> 23-24*2
Cheese. 240.201; quiet . Prices unchanged.
Rye spot. firm. No. 2 American f o b.
New York. 7534; No. 2 Western, c.i.f. New
York. 7434
Barley firm: No. 2 domestic, c.i.f. New
York. 61U.
Lard firm: Middle West. 7.45.
Straw steady; No 1 rye. 20.00-21.00,
Other articles steady and unchanged.
Short-Term Securities
(Reported by Smith. Barney A Co >
Bid. Asked.
Ala Gt Southern "A" 5s 43 in?', __ _
Alieahany Corn cv 5s 44 . 77'2 78'.
American Tel A Tel 5'2s 43 103s, 103',
Austin A Northw 5s 41_ 80>a 83
Baldwin Loco Wks 5s 40 __ 100N Kii'A
Central Foundry 'is 41 _ _ 38
Chicaeo Union Stat 4s 44__ 105 1"7
Container Corp 5s 43 33 Kill
Cuba Northern Rys 5',s 43 34 35
Delaware A Hudson 4s 43 (I45» *i5V4
Grand Rapids A Ind 4',s 41 l(»0*i
Illinois Steel 4'2s 4"_ld'i 102
Inti Hydro-Elec «s 44. ... 71 71'i
Intern Merc A Mar Cs 41 _ 05 H5V4
Lake Erie A Western 5s 41 _ 08', 75
Lehiah Val Ter Ry 5s 41 (ill
Louisville A Nashv RR 4s 40 loo', K>"‘,
Michigan Cen R R 4s 40 ._ 10" 100‘i
Midland R R of N J 5s 40 11 >4 13
New York A Lone Br 4s 41 75 3"
Pennsylvania Co 3'as 41 101’i 102%
PollP.rVTin Cnmoni m At III (l*
Penna R R Co 4s 4.3 _ _ lo!>4i
PeoDles Gas Lt & Coke Us 4.3 112 114
Peoria A Eastern 4s 40 _ tifl<k Rl'j
Phila Balt A: Wash 4s 4.3_1064, 107'.*
Studebaker Corp tis 45 _ 92 92'i
Tex A- New Orl 5s 43_ 50 S4a,«
Union Oil of Calif Hs 42 -- 111 112
Vanadium Corp 5s 41_111 114
Warren Bros Us 41 _ 3RVa 39
West N Y A Pa 4s 4.3_ 105 _
White Sewing Machine 6s 40 101’a _
Chicago Produce
CHICAGO. Oct. iypt.—Poultry, live.
41 trucks: firm: hens. 4% pounds up. 15%:
colored springs. 4 pounds ud. 13: other
prices unchanged.
Butter. 597.321: unsettled; creamery. P3
score. '2012-30; 02. 29: 89. 26; 90. cen
tralized carlots. 27,2-3/4: other prices un
changed. F.ggs. 5.163. firm: refrigerator,
extras. I8V4: standards, 18; firsts. 17U;
other crires unchanged.
• United States Department of Agricul
ture)—Potatoes. 72: on track. 422: total
U. S. shipments. 539; best, stock, all sec
tions. slightly stronger, demand fairly good:
poor stock about steady, demand light;
supplies rather heavy: sacked, per cwt..,
Idaho. Russet Burbanks. U. S. No. 1,
washed. l.rt2,/a-66: mostly 1.65; unwashed.
1.60: Nebraska. Bliss Triumphs. 85 to 90
per cent. U. S. No. 1, cotton sacks, washed.
1.70: unwashed. 1.50: burfap sacks, un
washed. 1.25-42%: washed. 1.70: Colorado,
Red McClures, u S, No J. burlap sacks,
generally good Quality and condition. 1.65;
fine duality and condition, good color, 2.00;
North Dakota. Red River Valley section,
Cobblers. U. 8. No. 1. 1.15; 85 to 90 per
cent U. S. No 1. 1.10-15: 76 per cent U.
S. No. 1, 1.00; Bliss Triumphs, 70 to 90
per cent U. 8. No 1. 1.06-20.
New York Sugar
NEW YORK. Oct 1R i/P:.—Sugar fu
tures No. 3 opened 1 lower. January,
2.02b: March. 2 10: May. 2.13; July 2 18;
September. 2.21b. bBid.
-— i ■■ --- . »,
ion
er 16. compared with comparable date a
October 16. 1939. October 15. 1938.
SI 8.499,748.98 *9.135.6.35.31
41,408.9.35.39 26.113,533.92
- 1.967.268.216. R2 2.R03.198.248.03
- 1.268.420.201.36 2.198.132.652.52
15.375,639.56 13.635.511.08
- 1.605,758,437.39 1.664.890,672.38
- 2,834.719.999.63 2.590.739.878.42
. _ 1.228.981.562.24 925.849.206.04
. 40.904,581,537.31 B8.429.779.826.61
1.822,535.17 _ __
. 16.996,006.272.00 13.987.970.199.37
i
Steel Industry
Adopts Policy
Of Price Restraint
Advances, if Any, Not
Expected to Exceed
$2 or $3 Per Ton
i
By the Associated Press.
NEW YORK, Oct. 18.—Major steel
producers seemed committed to a
policy of restraint regarding pos
sible price rises for the first quarter
of 1940, Iron Age said today in its
weekly survey.
"While confirmable information as
to forthcoming price decisions is not
yet obtainable.” asserted the review,
"opinion in the trade is that ad
vances, if any, will not exceed $2
or $3 a ton, which steel makers say
will not cover their increase costs.”
"Economic advisers of the Wash
ington administration, who are
bringing pressure against price ad- !
vances on steel and who are also j
watching closely the price move
ments in scrap, copper, zinc and
other important commodities, are
represented as being apprehensive of
a boom and subsequent disastrous
collapse should prices of important
commodities get far out of balance.
"The hysterical buying of Sep
i tember and early October has been
, followed by a calmer market, but
i pressure for shipments is heavy, in
i dicating to steel comnanies that
' most of the current production is
. going into immediate use rather
1 than into inventory,
j “Scrap markets have weakened
j further as a result of more liberal
i offerings, which may have been in
i duced by the peace atmosphere of
the past two weeks, as well as by
the higher prices being paid.’’
The Iron Age scrap composite
dropped $1.08 to $21 a ton, $1.50 be
low the peak of the recent move
ment.
Tlie review added:
j “As many- steel plants are now
| working at the full limit of prac
I tical capacity, the rate of gain in
| ingot output for the industry as a
; whole is slowing up. this week’s
average being estimated at 91 per
cent, up 1 point over last week.”
Investing Companies
i NEW YORK. Oct. 18 /P.—National
Association Securities Dealers. Inc.:
iNoon Quotations )
Bid. Asked.
j Admin Fd 2nd Inc _ 12 90 l:i72
: Affiliaied F Inc _ __ _ :( 98 43.1
‘Amerex Hold _ _ 18 25 17.75
' Am Bus Shrs __ 3 88 4 06
Am Gen Ey Inc _ 44 50
] Am Ins Stocks 4 (111 4.50
•Bankers Nat Inv Corp A 6 5(1 7 50
1 Basic Industry 4 12
•Blair A Go __ 2.125 2.875
Bullock Fund _ 3 4.75 JH 125
Can Inv Fund . . _ 3 60 4 ?o
•Ceniral Nat Corn A_24.09 3o 00
•Centre! Nat Corn B 2 00 3 00
Century Shrs Tr _ 24.07 75.88
Chemical Fund _ _ 10 58 11.44
Comwlth Invest _ 3.73 4 06
•Continental Sh pf_ 11 25 12.00
Coiporate Trust __ _ 2.57
Coiporate Trust AA __ 2.47
Cora Ar Accum _ __ 2 47
Corp Tr AA mod _ 3 00 _
Corp Tr Acc mod _ 3 00
Cumulative Tr Sh „_ 5 23
Deprs BkShNYA _ 1.66
Depos Ins Shrs A _ 2.89
Depos Ins Shrs B__ 2 50
Diversified Tr C._ _ 4 05
Diversified Tr D _ 6.10 6 85
Dividend Shrs 1.32 1 4 4
Eaton A Howard Fund A-l_ 18.34 19 70
Equuv Corn $3 dI _ 27.50 28 00
Fidelity Fund Inc _ _. 20 01 2154
•First Boston Corp_14.25 15.75
First Mutual Tr Fd_ 7 48 8 27
Fiscal Fund Bk Sh_ 2.58 2 85
Fiscal Fund Ins _ 3 25 3 61
Fixed Trust Sh A _ 30 55
Foreign Bond Assoc_ 6.44 7 10
Found Tr Sh A _ 4.20 4 75
Fund Investors Inc_ 3 8 87 20 52
Fund Tr Shrs A_ 5,32 6 06
Fund Tr Shrs B _ 4 83
Gen Capital Corp_ 31 79 34 18
Gen Investors Tr _ 5 00 3 44
Group Sec Agricultural_ 601 6 54
Group Sfc Automobile_ 5 05 5 50
Group Sec Aviation _ 8.32 .9 0.5
Group Sec Building _ 6.10 6 64
Group Sec Chemical_ 700 7 61
Orocp Sec Foods.. _ 4 52 4 93
Group Sec Invest Shrs _ 3.65 3 98
Group «ec Merchandising 5 46 5 95
Group Sec Mining _ 6.22 6 77
Group Sec Petroleum _ fi.03 5 48
Group Sec R R Equip 5 22 5 69
Group Sec Steel _ 6.47 7 04
Group Sec Tobacco_ 4.87 5 31
•Huron Holding _ .15 35
Incorp Investors .. _ 17 8! 19 15
Independence Tr Sh_ 2.32
Instl Sec Bank Group_ 1.16 1 28~
Instl Sec Insurance_ 1.29 1.42
Investors Fd "C" Inr_11.46 12.21
Keystone rtiistorin R 1 011 a:i ox xu
Keystone Custodn B 2_ 22.58 24.70
Keystone Custodn B 3_14.07 10.44
Keystone Custodn K 1_ 14.43 15 83
Keystone Custodn K 2_ 10 54 11 07
Keystone Custodn S 2_ 14.20 15 00
Keystone Custodn S 3_12,08 13.37
Keystone Custodn S 4_ 4 77 5.38
Manhat Bond Fund _ 7.10 7.84
Maryland Fund _ 5 55 0 10
Mass Invest Tr_ 21.04 23.27
Mutual Invest _11.25 12.28
Nation Wide Sec _ 3 011 _
Nation Wide Voting_ 1.33 1.48
Natl Investors _ _ 0 00 0.30
New England Fund _13.SO 14,87
N Y Stocks Automobile_ 5.77 0.20
N. Y. Stocks Aviation_10.72 11.58
N Y Stocks Bk Stocks ... 0.14 0.88
N Y Stocks Bldg Sunply__ 0.38 0 01
N Y R'orks Elec Equip_ 8.27 8 35
N Y Stocks Insurance_ 0.83 10.02
N Y Stocks Machinery_ 8 51 0.20
N Y Stocks Oils _ 8.03 0.33 •
N Y Stocks R R Equin_ 8.07 0.70
N Y Stocks Steel _ 8 53 0.23
North Am Bond Tr ctfs__ 47.00 _
Nor Am Tr Sh 1053_ 2.42 _
Nor Am Tr Sh 1055_ 2 08 _
Nor Am Tr Sh 1050_ 2.33 _
Nor Am Tr Sh 1058_ 2.08 _
Plymouth Fund Inc_ .40 .51
Putnam CG.l Fund _ 14 40 15.50
Quarterly Income Sh_ 8.00 0.80
•Schoellkopf-Hut * Pom__ 1 00 -2.00
Selected Am Sh Inc_ 0.95 10.86
Selected Income Sh_ 4.58 _
Sovereign Invest _ .74 .82
Spencer Trask Fund_16.02 10.97
Stand Util Inc _ .50 .60
•State Street Invest_ 78.50 81.00
Super of Am Tr A_ 3.81 _
Super of Am Tr B_ 3.00 _
Super of Am Tr AA_ 2.02 _
Supervised Shrs_10.40 11.30
Trustee Stand Inv C_ 2 04 _I
Trustee Stand Inv D_ 2.59 _
Trustee St Oil Shrs A_ 5.79 _
Trustee St Oil Srs B_ 5 04 _
Trusteed Am Bk "B"_ .56 .02
Trusteed Industry 8hrs_ .80 .00
Wellington Fund _ 14 87 16.34
•Indicates, “Not quoted by sponsors or
Issuers."
Railroad Issue Sold
NEW YORK, Oct. 18 !/Pl—A bank
ing group headed by First Boston
Corp. was the successful bidder for
an issue of $8,000,000 of Atchison,
Topeka & Santa Fe Railway series
“C” 2 */2 per cent serial equipment
trust certificates, it was announced
today. The whining tender was
101.899.
k
Atlantic Refining
Nine Months' Profit
Set at $3,130,000
Continental Steel Corp.
Profit Shows Decline
Under Previous Quarter
By the Associated Press.
NEW YORK. Oct. 18—Atlantic
Refining Co. in a preliminary state
ment for the nine months ended
September 30 today reported net
profit of $3,130,000, or $1.01 a share
on common stock, compared with
$3,935,000, equal to $1.31 a share in
the like 1938 period. September
quarter indicated net profit was $1,
776.966, or 61 cents a share, against
$1,068,820, or 34 cents a share, in the
1938 September quarter and $814,
581, or 25 cents a share, in the June,
1939, quarter.
Continental Steel Corp.
Continental Steel Corp. reported
net profit for the September quar
ter of $198,138 after $150,000 reserve
for contingencies, equal to 83 cents
a share on common stock. This
compared with $253,128, or $1.06 a
common share, in the preceding
quarter, and $192,360, or 75 cents, in
the similar 1938 quarter. Plants are
in Kokomo and Indianapolis, Ind.,
and Canton, Ohio.
T? c r
United States Gypsum Co. re
ported consolidated net profit of $2.
613.003 in the third quarter this vear,
equal to $2.08 a share on common
stock, compared with $2,127,161 or
$1.67 a common share, in the pre
ceding quarter and $1,607,725. or
$1.23, in the same quarter last year.
Company manufactures building ma
terials at plants throughout the
country.
Schenley Distillers Corp.
Schenley Distillers Corp. and sub
sidiaries reported net income for the
three months ended September 30
of $944,327. equal to 56 cents a share
on common stock, after preferred
dividend requirements. In the com
parable 1938 quarter earnings were
equal to 44 cents a share on common
stock.
Container Corp.
CHICAGO. Oct. 18 <As).—Net earn
ings of the Container Corp. of
America for the third quarter
amounted to $253,060, which was
equal to 32 cents a share on capital
stock. It compared with a total of
$16,145 for the corresponding quar
ter a year ago.
Penick A Ford, Ltd.
Penick & Ford. Ltd., and subsid
iaries, makers of edible oils and
syrups, reported net profit of $342.
384. equal to 93 cents a share on
common stock, in the September
quarter. This compared with $235,
871. or 77 cents a share, in the pre
ceding quarter and $288,672. or 78
cents, in the comparable 1938 pe
riod. Plants are in Louisiana. Iowa,
Georgia, Vermont and New York.
Pennsylvania-Dixie Cement.
Pennsylvania-Dixie Cement Corp.
and subsidiaries reported profit for
the 12 months ended September 30
of $355,011 after charges but before
Federal income taxes, compared w ith
a loss of $43,213 in the preceding 12
month period. Plants are in Penn
sylvania, New York. Tennessee,
Georgia and Iowa.
American Type Founders.
Net profit of American Type Foun
ders, Inc., and subsidiaries was re
ported at $19,030 for the six months
ended September 30, equal to 3 cents
a share on capital stock, compared
with net loss of $184,889 for the
similar 1938 stretch. Company
makes, buys and sells all types of
printing equipment. Main plant is
at Elizabeth, N. J.
rr ■ —-i
Money tor Construction Loans
and
Loans on Existing Properties
5%
TOST DEED or TRUST ONIT
GEORGE I. BORGER
643 Indiana At#. n.W.
Nat'l 6300
LOANS
On Washington
Real Estate
Current Rater and
Courteour Treatment
17311 H STacrr N.W.
J. Blaise De Sibour
and Company
INSURANCE
of all kinds
1700 Eye St. N.W.
MEtro. 3996
»- _I
r FIRST j
TRUST
MONEY
to buy. build or reflnance your real I
estate Investments. j
Interest Rates
4,/2%—5%
3 to 5 Year Straight Loans
Long Terra Amortised Loans
As low as $6.00 per thousand
until paid.
e
Applications from nearby Maryland
and Virginia also solicited.
Consult Us
We have saved money for others
In solving their mortgage problems.
E. Quincy Smith, Inc.
Arthur C. Houghton, President
! Mortgage Loan Correspondent
THE PENN MUTUAL LIFE
INSURANCE CO.
L
Carriers & General
Assets Show Gain
Special Dispatch to The Star.
NEW YORK. Oct. 18.—Total assets
of Carriers & General Corp. on
September 30, 1939, with invest
ments at market, were $6,059,562, as
compared with $5,078,038 on June
30, 1939, and $5,908,972 at Decem
ber 31, 1938. Net asset value per
share, pricing securities at market
lr*"' ==
and excluding unamortized deben
ture discount and expenses, was
$6.42 on September 30, 1939, com
pared with $4 84 per share on June
30 and $6.19 per share at the end
of 1938.
PART-TIME
BOOKKEEPING SERVICE
Books Started. Audited. Tax Reporti,
Expert—Dependable.
Inexpensive.
General Bookkeeping Service
525 Woodward Bldf. Di. H.Vlfi-Ra 3131
— - ■ -,1
First Mortgage Loans
District of Columbia, Nearby Maryland and Virginia
Homes Giv\ Business
Apartments Ij /(/ Properties
Terms from 3 to 15 years
Also
Monthly Payment Loans
Randall H. Hagner & Company
INCORPORATED
| nortoaoe Loan Corrirpondint
1321 Connecticut Ave. N.W. Telephone DEcatur 3600
_
ION IMPROVED PROPERTIES IN I
THE DISTRICT OF COLUMBIA 1
9
TO BUY, BUILD
OB REFINANCE
Lower Costs—No Renewals
Prompt Action—No Red Tape
Small Monthly Payments
Liberal Repayment Privileges
Taxes and Insurance May Be Paid Monthly
Accounts Interest Computed on Monthly Balance of Loan
Federally Pass Books Show New Loan Balance After Each
Insured Payment
COLUMBIA
BUILDING ASSOCIATION
716 11th St. K.W. W. 6543
1 _______________________il^
ON IMPROVED
' j D. C. PROPERTY
> 1 _
For buying, rebuilding or refinancing at
prevailing rates of interest.
' Loans repayable monthly.
No charge for appraisal if loan is not made.
Interest charged only on unpaid balance of
principal.
Equitable Co-operative
Building Association
915 F ST. N.W. ORGANIZED 1879
|| PAY FOR a \ J>
II YOUR
II AS YOU LIVE IN IT
II Send Postcard jor FHA j j
II Easy Payment Loan Plan ! |
II When you buy your home under the FHA Plon it
II is yours to live in while you pay for it. In many j j
11 cases we can lend you up to 90% of the op- ;
|| praised value of your home—and you can hove !
|1 25 years to pay off the loan. You pay only j
11 o low 4V4% interest rate. No commission is
If added. Your small monthly payments take care
|i of interest, principal, taxes and insurance. Send
|1 postcard or phone for booklet, "FHA Loans."
WEAVER
I BROS inc
I MORTAAAELOAMS j
-if Loans for Resident sal, Business Building
l| and Refinancing for over SO years
i| WASHINGTON BUILDING • DISTRICT 8300
•' A

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Evening star. [volume], October 18, 1939, Page A-19, Image 19
About Evening star. [volume] (Washington, D.C.) 1854-1972