Evening star. [volume], November 27, 1939, Page A-15, Image 15

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

Image provided by: Library of Congress, Washington, DC

                
Exports of American
Goods Jump Far
Ahead of Imports
Federal Report Shows
Largest Margin in
Nearly 2 Years
By the Associated Press.
Exports of American merchan
dise exceeded imports in October
by the largest margin in nearly
two years, the Commerce Depart
ment reported today.
Exports totaled $332,079,000 and
imports $215,281,000. The $116,798,
000 difference was said by the de
partment to be the widest spread for
any month since January, 1938.
Although the report showed a
slight increase for the month in
exports to Latin America, which has
been largely cut off from some of
• its European sources of supply, ex
perts said the full effect of the
war on American trade was not
shown.
.. In October last year exports to
taled $277,668,000 and imports $178,
021.000, an export excess of $99,
, 644.000. Tire excess of exports in
October enabled totals for 1939 to
creep up on last year, and the
$2,516,978,000 export total for the
first 10 months of the year was
$681,192,000 ahead of imports.
In the same period last year ex
ports totaled $2,573,115,000 and were
$960,220,000 ahead of imports.
»>«r r-iirris onown.
A few war effects were shown by
the October figures, especially in
the failure of tobacco shipments to
make the usual seasonal gain. To
bacco shipments totaled $6,190,000
compared with $29,489,000 in Octo
* ber a year ago. England is one
country which has been cutting
flown tobacco purchases.
Cotton exports, which had lagged
In a serious manner, increased, how
ever. to $47,254,000 in October, which
was more than double the figure for
the same month last year.
Other export increases included
fruit, automobiles and corn.
Imports, as well as exports, were
larger than in October last year,
due largely to increased American
purchases of foreign rubber, coffee,
cocoa, woodpulp, newsprint and silk.
* The large import total, officials
said, did not necessarily mean an
increased flow of foreign goods into
the United States because entries
of foreign merchandise into bonded
warehouse- exceeded withdrawal
for the purpose of sale in the United
. States from stocks put there in
previous months. Some of the goods
going into bonded warehouses might
later be exported rather than sold
in this country.
Cotton Shipments Gain.
Raw cotton exports totaled 487,
901.000 pounds in October and
1.813.477.000 pounds in the first 10
months of the year, compared with
259.763.000 and 1.965.569.000 a year
ago. Imports amounted to 10.848,000
pounds and 84.443.000 pounds, com
pared with 7.619.000 and 93,107.000.
Exports of raw tobacco totaled
28.532.000 pounds in October and
i .uyo.uuu pounas in me nrst lu
. months, compared with 82,034,000
and 379.709,000 last year.
Imports amounted to 6,724,000
pounds and 64.544.000 pounds, com
pared with 6,289.000 and 60,968.000
last year.
Exports of wheat totaled 1,701,000
bushels in October and 61,165.000
bushels in the first 10 months, com
pared with 3,104.000 and 77,658,000
last year. Imports for milling and
export amounted to 918.000 bushels
and 9,009.000 bushels, compared with
1,223.000 and 2.426,000 last year.
Auto Factory Sales
> “ Climb in October
By the Associated Press.
Reports to the Commerce Depart
ment show that factory sales of
automobiles during October amount
. ed to 313.377 vehicles, compared with
188,751 units in September and 209,
512 in October, 1938.
The October total included 251,819
passenger cars and 61,558 commer
cial cars, trucks and road tractors,
according to reports from 73 manu
facturers.
Insurance Stocks
NEW YORK. Nov. Z«.-P .—National As
•ociancn securities Dealers. Inc..
B.ci. Asked.
Aetna Cas (4a* 1*24 1*27
Aetna Ins (1.♦ i0) _ 44 51
A na Lite (l.‘2ua) _ 4u 4 4‘.34
Am Equil in _ *2134 ‘24V4
Am Ins Nwk (*2:1)_ 1*2‘a 14
Am Heins (1 not _ 41'4 44U
• Am Reserve (I'a)_ *24!4 2534
Am Surety (*212* _ 50 U 5*2U
Auiomobiie ‘la* _ 44 40
Bait Amer <.*2oa> _ 034 7 34
Carolina (1.4o> _ :>!4 203-4
City 01 N Y ( 1 .*20i _ *2*2;*4 24*4
Conn Gen Lif 00)_ *2? *2S34
Gontin Cas (l.*2ua) _ 4412 45*2
Fid A Drp _ 1‘25 12s
Frrem's Nwk _ lo 11'2
Frank Fire (la) •__ 40*4 4*2U
Gen Reinsur (la) _ 4 134 44
GeorK Home 'la* _ 2234 *2434
Globe Rip (‘2) _ 1 1 34 13*.4
Globe & Rut _ 16’• 4 1834
Gt Amer Ins Ua) _ 28* 2 30
Hanover (1.20) _ 2^12 20
Hartford Fil e ' 2)_ 81 84
Home Fire Sec _ _ 1*4 23i
Home Ins (1.20a) _ 32 34
Homestead <1) 1834 2o*4
Knickerbocker (*2) __ 034 11 *4
L ncoln Fire _ _ 21« 25«
Maryland Cas _ 2*2 3'b
Mass Bond <3*2) _ o!'34 613a
* Marc Ins Pr 3 4‘2
Nall Fire (2) - _ 62 64
Natl Liberty ( 20a) 7*2 8*2
N Hampshire il.ljOa)_ 4 134 4034
N Y Fire (.80) _ 10 17*.2
Nor East Ins __ 334 434
Nor River ( 1 ) xd _ _ 20*2 28
Phoenix (2a) 78*2 82*2
Prov Wash >1) ..... 33*4 351*
Rpd Ins Tex (1.20* 20 27*2
R“vere 'Pi In 11.20a)_ _ 26*2 28
Eh Isl Ins 3 4*a
St Paul Fire (8) 235 240
Sprinefirld <4*2a) _ 123*2 120*2
Sun Life <15> 300 350
Travelers (10) 425 435
U S Fid A G (1)_ 22 23*4
U R Fire <2> _ 51 */a 53*2
Westchester 11.20a) 34 36
a Also extra or extras, a Declared or
paid so far this year.
Quotations furnished by National As
sociation of Securities Dealers, Inc., which
states they do not necessarily reflect
actual transactions or firm bids or offers,
but should indicate approximate prices.
Chicago Livestock
CHICAGO. Nov 27 ($>\ (United States
Department of Acriculturet.—Salable hogs.
21.000: total. 34.000; general market on
„ 160-22 ;> pounds 10-15 lower than Fri
?-yoSt average; 24o pounds up and sows,
lo-75 lower, some late bids off more: bulk
good and choice, 100-240 pounds, 5.00
*1}0st 250-300 pounds. 5.35
R ’°"P01lnd butchers. 5.15-30;
most 330-4;>0-pound sows. 4.85-5.10; few
sjHpoJb lights around 5.25: few extreme
ueichts. 4.O0-75.
„ ■?•}•«* c,attJe\ lfi.000: salable calves.
~ no° lareely fed steer run: light yearlings
scarce: limited supply 1 100-1.300-pound
long-fed bullocks in run; shade weak to
lower on light steers and mostly 15-25
down on weighty offerings; only well
finished yearlings here scaling non'pounds
down and yearling heifers holding steady:
very little done on weighty steers: early
°P- l>*ht steers. 1IL75 1.242 pounds,
Ki.oO: largely 87f>-10.50 market with
strictly choice light stagrs and long
yearlings held above 11,oil: several loads
good to choice heavies. ft.73-10 °5' these
scaling under 1.400 pounds: best heifers
10 50: cows firm, with cutter grades shade
higher: bulls. 10-15 higher1 weighty
sausage offerings up to 7 15: vealers steady
at 10.00 down: only few selects 10.50;
stock calves and Stocker yearlings opening
, nrm: calves up to 10.00.
Salable sheep. 10.000: total. 12 000: fed
lambs 1n fairly broad demand: undertone
firm to unevenly higher: early bids and
sales around 0.25-40; best lambs now held
P 55-75 and better:, good fed Texas year
ling.*. 7.75: one deck. 8 25 sheep about
steady native slaughter ewes eligible.
3.75-4.50.
"=-Contract) Awardnd in 37 Eartam Statoi-3T|
_SQUPc:e of data: f w. podge corporation -r _
HOME BUILDING AT HIGH LEVELS—The above chart shows that October was the eighth con
secutive month in which volume exceeded $100,000,000.
Weir Terms Upturn
Unsound and Scores
Federal Theorists
Spending and Labor
Policies Regarded
As Major Obstacles
By the Associated Press.
DETROIT. Nov. 27.—E. T. Weir
steel producer, today described the
current business upturn as unsound
and declared that permanent recov
ery was prevented by Government
spending and the effect of New Deal
“theories" on business.
The present high level of business
activity, the chairman of the Na
tional Steel Corp. said in an address
prepared for the Economic Club of
Detroit, has resulted largely from
anticipation of war buying from Eu
rope.
Investment Blocked.
! Permanent recovery, he said, de
nends upon sustained hign volume
1 of private investment in productive
f enterprise and low profits in recent
1 rears have cut off this investment.
He asserted heavy taxation and the
| uisruntion of business by new regu
’ lation and controls of Government
! were responsible for low profits and
business losses.
He declared the "New Deal master
minds are concentrating on ways
and means to increase the national
income" in an effort to avoid in
creasing taxes in an election year
and to avoid curtailing expenditures.
For that reason, he said, "ex
periments are being soft-pedaled:
mysterious submarines have taken
the place of economic royalists as
threats to the national welfare, and,
according to Washington observers,
plans are being made to give busi
ness "a shot in the arm if there is
any sign of contraction in the rate
of business activity.”
Attacks Labor Law.
He termed the Wagner labor law
and its administration by the Na
j tional Labor Relations Board "major
factors" in "producing the greatest
period of labor disturbance in the
history of the country," and added:
"No natural disaster can equal the
destructive effect of continuing labor
dissension. * * * Prudent men will
no more build enterprises in com
munities that become notorious for
! labor strife than they will build on
! a possible battleground of warring
j armies."
Structural Steel Orders
Decline in October
By the Associated Press.
NEW YORK, Nov. 27.—New orders
booked by the structural steel fab
ricating industry during October
dropped to 112.097 tons from the re
vised September total of 121.357
tons, the American Institute of Steel
Construction estimated today.
In October last year books
; amounted to 154,756 tons.
October shipments also fell off
I from the previous month, amount
i ing to 129.321 tons against 140.828.
However, this compared with 105.032
tons in October, 1938.
—
Autocar Co. Declares
Dividend of 75 Cents
Special Dispatch to The Star.
ARDMORE, Pa., Nov. 27.—The
regular dividend of 75 cents a
share on the $3 preferred stock of
the Autocar Co. has been declared
by the Board of Directors.
The dividend is payable December
27 to stockholders of record as of
December 16.
The company's profits for the first
10 months of 1939 amounted to
$236,295. after provision for all
taxes. This compares with a loss
of $466,130 for the corresponding
period of 1938.
Foreign Exchange
NEW YORK. Nov. 2 7 <.T>.—Sterling drop
1 ped 1 cent and thr belga 1-20 of a cent
in terms of the dollar today as Great
Britain prepared further to throttle Ger
man export-import ant trade with possible
serious repercussions on the commerce of
neutral nations.
At thr same time the pound for de
livery m the future continued to decline.
The discount on 90-d?v sterling was quoted
at 7 cents, against 63« over the week end.
Foreign exchange men associated thi«v pro
nounced trend in future sterling with per
sisfent losses to British shipping.
The euilder and Swiss franc held un
changed. while the French franc dipped
.Oh14 of a cent.
Late rates follow:
Great Britain in dollars, others In cents.
Great Britain demand. 3 80*2: Great Brit
ain. cables 3.02: 00-day bills. 3.87: 00-day
bills. 3.85 Canada. Montreal In New York,
8(5 37*2: Canada, New York in Montreal.
115.75: Belgium. 10.54: Denmark. 19.33:
Finland. 2.00n: France. 2.22: Germany.
40.1 on: benevolent. 17 75: travel, un
quoted Greece. 73n: Hungary. 17.60n:
Italy. 5.05: Netherlands. 53.00: Norway.
22.74: Portugal. 3.67n: Rumania. 73n:
Sweden. 23 83: Switzerland. 22.44: Argen
tina (official). 29.77; Argentina (free).
23.25: Brazil (official), 6.05; Brazil (free).
5.10: Mexico. 2o.60n: Japan. 23.46: Hong
Kong. 24.50: Shanghai. 8.10: Yugoslavia,
2 3('n. Rates in spot cables unless other
wise indicated, n Nominal.
London Bar Silver
LONDON. Nov 27 i/Pi.—Bar silver,
•w.d. unchanged. (Equivalent 42.50 cents
nn the dollar basis $4.01 to the oound.i
Bar gold. 16Rs. unchanged. (Equivalent
COO C!(l
Extra Ordered
By St. Joseph
Lead Board
By the Associated Pres*.
NEW YORK, Nov. 27—St. Joseph
Lead Co. directors today voted an
extra dividend of $1 a share, in
addition to the usual quarterly divi
dend of 25 cents, on common stock,
both payable December 20 to hold
ers of record December 8. This
payment will boost total 1939 divi
dends to $2 a share, against $1 last
year.
*
Chicago Produce
CHICAGO. Nov. 27 — PoultlT. live. 1
car. 19 trucks ducks and geese easy, bal
ance steady; hens. 4% pounds up 14:
under 4% pounds. 11; Leghorn hens. 10;
broilers. 2% pounds and under, colored.
14; Plymouth Rock. 16. White Rock. 16%;
Leghorn chickens. 9%: springs. 4 pounds
up. colored. 11%; Plymouth Rock. 12;
White Rock. 13; under 4 pounds, colored.
13: Plymouth Rock. 15; White Rock. 15;
bareback chickens, in: roosters. 9%: Leg
horn roosters. 9%; ducks. 4% pounds up.
colored 11%; white. 12; small, colored,
in small white, in; geese, over 12 pounds.
11; 12 pounds and down. 13; turkeys,
toms. old. 14; voung. 18 pounds and up.
15; under 18 pounds. 15; hens. 18; capons
7 pounds up. 19; under 7 pounds. 17.
Butter. 604 308. unsettled. Creamery.
93 score. 3044-31 %: 92. 30%: 91. 29%;
90. 28; 89. 27; 88. 26; 90. centralized
carlots. 28-28%. Eggs. 3.139 weak Fresh
graded, extra firsts 23%; firsts. 22; cur
rent receipts. 20; refrigerator extras. 17%:
standards. 17% firsts. 16%.
Potatoes. 173 on track. 396: total
United Slates shipments Saturday 4,3;
Sunday 21: dull, supplies ra’her heavy,
demand very slow ; sacked. Dfr hundred
weight. Idaho Russet Burbanks U. S No. 1.
very few sales. l.SO-1 90. occasional car
large. 1.95: U S commercials U. S No. j
2 few sales. 1.25-30; Colorado Red Me-'
c;ures. U S No. 1. burlap sack . unwashed.
. few sales 1 67%-75 Nebraska Bliss Tri- j
umphs 85 to 90 per cent U S No 1. cot
! ton sacks, unwashed. 1.50 ordinary aual
i :ty. 1.25: burlap sacks U. S No. 1. fine
qualitv. washed, car 2 05: North Dakota
1 Red River Valiev section Cobblers. 80-85
per cent U S No 1 few sales. 1.00-10:
Bliss Triumphs. 80-9n per cent U. S No. 1.
J 1 22* j-25 Early Ohios 80 per cent U S
| No 1. 1 10: Wisconsin Round Whites U. S.
| No. l, 1.17%; U. 8. commercials. 1.10.
I 1
Short-Term Securities
(Reported by Smith, Barney * Co.)
B’.d. Offer.
Alleeh Corp ev 5s 1044 TO1 a 80
Amer Tel & Tel 5‘as 1943 10938 109*, 1
! Austin A: Northw 5s 1041 80*8 88*a
Baldw Loco Wks 5s 1040 101 *^ 1017g
{ Central Foundry fis 1041 00
i Chicago Union Sta 4s 1044 105*4 107
Childs Co 5s 1043 _ _ 58 59*4
Colo Fuel A: Iron 5s 1043 104*4
Container Corp 5s 1943 1017* 1 O'
Cuba Nor Rwys 5»?s 1942 32* g 33
Delaware Ac Hudson 4s 1043 03*g f>33«
; Gr Pap A: Indiana 4‘as 1041 104*2 105*4
Illinois Steel 4*2s 1040 ]ni5g 102
; Inti Hvdro-Electric Os 1044 715g 73
Inti Mer Marine os 11»41 58* 2 597g
: jnclerie Gas Lieht 5s 1042 81 81 "*
i Lake Erin A: Westn 5s 1041 78*fl 88
Lehigh Valley Ter R 5s 1041 5o
Louis A* Na*h R R 4s 194o 101*4 101*2
! Midland R R of N J 5s 194o 11*4 12*4
: N Y A- Lone Branch 4s 1041 .. 88
» Norfolk A: Southern 5s 1041 52 57
j Pennsylvania Co 3*?s lf*41 1023« 103*a
i Penn-Dixie Cement Os 1041 05*a 07
| Penna R R Co 4^ 1043 107 100
Peo Gas Lt Ac Coke Os 1043 11234 1 14
Peoria Ac Eastern 4s 1040 70 72Vi
Phila Balt A' Wash 4s 1043 100*4
5rudebaker Corp os 1045 05 00
Tex Ac New Orleans 5s 1043 50 84*4
Union Oil of Calif os 1042 112*4 113
Vanadium Corp 5s 1041 107 110
Warren Bros Os 1041 __ 33 34
Westn N Y Ac Pa 4s 1043 1«'7V4 107*4
White Sewing Ma Os 1940 _ 102 -
Foreign Markets
LONDON Nov. 27 (/P).—The price under
! tone was a bit soggy in the securities
market today although there were several
resistant spots. British government bonds,
for instance, cancelled early losses and
Argentine rail stocks attracted a small
following. Domestic carriers fell back
after early improvement. Trans-Atlantics
and oils Inclined lower and coppers where i
changed were mostly depressed. Indus- \
trials held quietly steady.
PARIS—The Bourse headed downward ;
| today .n brisk trade although considerable j
I resistance was displayed. Sentiment was j
■ affected by the forthcoming settlement day
i and continued allied sea losses. Rentes <
rlo'-erl in *o 150 centimes lower.
AMSTERDAM.—The Bourse tried a
comeback in late dealings today after a
lower start Most. American shares Im
proved slightly while domestic equities
were mixed.
Boston Wool Market
BOSTON. Nov. 27 'J»> (U S Dept. Agr >.
—A moderate amount of business was
being transacted in the Boston wool mar
ket today.
Fin* wools were receiving the bulk of
the temand. although inquiries for coarser
grades were being received from a number
of users. Original beg fine territory wools
were bringing 97 cents to $1. scoured basis,
for good French combine length, and 94
to 97 cents, scoured basis, for average to
short French combing lengths. Offerings
of mixed three-eighths and quarter blood
bright fleece wools from the country were
reported selling occasionally at 44 to 40
cents, in the grease, delivered.
Drygoods Market
NEW YORK. Nov. 27 </P>.—Trading was
generally a quiet affair at steady prices
in the Worth Street textile district today.
Traders were said to be awaiting some
word as to deliveries on the 11,000.009
vards of finished print cloths to be used
for comforters by the Federal Relief Corp.
and on which bids will be opened to
morrow
In the rayon market buving wfas centered
in twills for men’s w^ar linings. Turnover
in silk goods was dull
The woolen goods markets were rather
spotty M'lls. meanw’hile, were busy on
unfilled orders and are expected to keep
machinery moving at the present rate
through late January.
i
Freight Loadings
NEW YORK Nov 27 (/Pi.—Revenue
freight car loadings on railroads report
ing today for the week ended November
25 Included:
Nov. Prev. Year
25 Wk Ago.
Baltimore & Ohio 47.873 54.280 .35.630
Rock Island_ 22.630 24.219 20.755
St. Paul_ 26.257 29.167 23.729
Paris Exchange Rates
PARIS. Noiv. 27 (4»i.—The United States
dollar was unchanged at 43.80 francs
(2.283 cents to the franc! in final for
eign exchange dealings today. In con
trast the franc was 2.222 cents in New
York over the week end. Exchange on
London. 176.625
Three per cent rentes in the Bourse
ended 71.00 francs: 4!2S ''A.” 81.60: 4VaS
1037. 200 00
New York Bar Silver
NEW YORK. Nov. 27 OP).—Bar
silver, 34*4, unchanged.
Santa Fe Discloses
Income Up Sharply
From Year Ago
October Net Reaches
$3,408,138, Against
$2,804,790 in 1938
By the Associated Press.
NEW YORK. Nov. 27.—The Atchi
son, Topeka & Santa Fe Railway
System reported today for October
net operating income of $3,408,138.
compared with $2,804,790 in October,
1938.
For 10 months net operating in
come was $15,495,344. against $14,
056.033 in the corresponding 1938
period.
Rock Island Railroad.
The Rock Island Railroad reported
net railway operating income for
October of $1,331,979, compared with
$942,119 for the same month last
year. Net railway operating income
for the 10 months ended October 31
was reported as $4 298 018, compared
with $1,473,268 for the correspond
ing period a year ago.
Other reports of net operating in
come follow:
CHICAGO A EASTERN ILLINOIS.
1939. 1938.
October $414.008 $214750
Ten months __ 095.988 299.853
TENNESSEE CENTRAL.
October _ $08,004 $00,000
Ten months 200.098 189.890
OCTOBER
1939 1938
Burlington $2,597 231 $2.n, 2.275
Missouri Pacific.. 1.407.908 874.339
Louis. A Nashville 2.320.525 1.809.0*;;
Virginian Rwy. 973.750 790.952
Drn A Rio Gr. 700.303 551.820
Frisco 1.000.002 033375
North Western 2.385.844 1.054.098
3t. Paul 2.319.812 1.548,445
Investing Companies
NEW YORK. Nov. 27 P.—National As
sociation Securities Dealers, Inc.:
(Noon quotations.*
Bid Asked.
Admin Fd 2nd Inc __ 12 40 13 19
Affiliated F Inc_ _ 3.80 4.01
•Amerex Hold ___ 16.375 10.875
Am Bus Shrs _ 3 38 3.73
Am Gen Eq Inc_ _ . _ .40 .45
Am Ins st 4.00 4 50
•Bankers Nat Inv Corp A 0.75 7.75
Basic Industry _ 3 97
•Blair A Co 1.375 2.375
Boston Fund Inc __ 15.02 10.80
Broad St Inv _ 24.53 20.24
Bullock Fund __ 13.875 15.2a
Can Inv Fund _ 3 45 4.05
Chemical Fund _ in 4“ 11.20
t... *i an o a«»
•Continental Sh pf 9.56 10.50
Corporate Trust _ 2.52 --
Corporate Trust A A 2.42 -
Corp Tr Accum 2.42 -
Corp Tr A A Mod __ 2.89 -
Corp Tt Acc Mod_ 2.89 -
Cumulative Tr Sh __ 5.65 -
Depos Bk Sh N Y “A,,___ 156 -
Depos Ins Shrs ‘'A"- 2.93 -
Depos Ins Shrs l'B" 2.57 -
Diversified Tr C. 3.90
Dividend Shrs 1.23 1.35
Eaton & How Fund “A-l” 18.02 19.36
Equity Corp $3 pf-_ - - 25.73 26.25
Fidelity Fund Inc _ 19.08 20.54
‘First Boston Corp _ 15.50 17.00
First Mutual Tr Fd - 7.03 7.78
Fiscal Fund Bk Sh- 2.52 2.79
Fiscal Fund Ins - 3.29 3.6#
Fixed Trust Sh A-10.18
Foreign Bond Assoc- 7.10 # 82
Found Tr Sh A_ 4.15 4.70
Fund Investors Inc--17.66 19.20
Fund Tr Shrs A- 5.22 5.94
Fund Tr Shrs B- 4.73 -----
Gen Capital Corp _30.86 33.12
Gen Investors Tr _ 4.93 5.37
Group Sec Agricultural __ 5.59 6.09
Group Sec Automobile_ 4.78 5.21
Group Sec Aviation _ 8.18 8.89
Group Sec Building - 6.66 6.53
Group Sec Chemical- 6.651 7.28
Group Sec Foods _ 4.45 4.85
Group Sec Invect Shrs- 3.32 3.63
Group Sec M'chandising__ 5.53 6.02
Group Sec Mining _ 6.n.*> 6.58
Group Sec Petroleum- 4.59 5.00
Group Sec RR Equip- 4.35 4.74
Oroun Sec Steel - 5.78 6.29
Group Sec Tobacco - 4.97 o.41
•Huron Holding - .“8 _.2H
Incorp Investors _16.68 1 < .94
Independence Tr Sh- 2.26 -----
Instl Sec Bank Group- 1.11 122
Instl Sec Insurance_ 1.31 1.44
Investors Fd “C" Inc-16.8*: 11.54
Keystone Custodn B 1- 26.95 29.44
Keystone Custodn B 2- 21.36 23.42
Keystone Custodn B 3-14.55 15.97
Keystone Custodn K 1-14.43 15.82
Keystone Custodn K 2- 9.99 11.06
Keystone Custodn S 2-14.24 15.66
Keystone Custodn S3 . _ 16.74 11.89
Keystone Custodn S 4- 4.26 4.80
Manhat Bond Fund- 6.99 7.72
Maryland Fund - 5.26 5. < o
Mass Invest Tr - 21.05 22.63
Mutual Invest _-— 10.88 11.89
Nation Wide Sec - 3.81 -----
Nation Wide Voting _ 1.27 1.42
Natl Investors _ _ 5.96 6.35
New England F'und __ 13.05 14.06
N Y Stocks Automobile_ 5.31 5.76
N Y Stocks Aviation _10.60 11.45
N Y Stocks Bk Stocks 8.59 9.29
N Y Stocks Bldg Supply 6.29 6.82
N Y Stocks Chemical _ 8.96 9.69
N Y Stocks. Elec Equip __ 7.79 8.43
N Y StocKs, Insurance_ 9.78 10.o#
N Y Stocks Machinery 7.69 8.32
N Y Stocks Oils 7.61 8.24
N Y Stocks Railroad - 3.67 4.66
w y Blocks k k isquip < ■' .
N Y Stocks Steel 7.42 8.03
North Am Bond Tr ctfs -- 47.75
Nor Am Tr Sh 1053 2 40 -
Nor Am Tr Sh 1055 2 02 -
No' Am Tr Sh 1050 2.87 -
Nor Am Tr Sh 1058 . 2 82 _ .
Plymouth Fund Inc ... .41 .47
Putnam tG) Fund _14 41 15.41
Quantity Income Sh 8.25 P.15
•Schoellkopf-Hut Ar Pom .50 1.00
Selected Am Sh Inc _ .. 0.32 10.10
Selected Income Sh_ 4.38
Sovereign Invest _ .88 .75
Spencei Trask Fund_ 15.80 10 50
Stand Util Inc__ _ .50 .54
Super of Am Tr A_ 3.63
Super of Am Tr B_ 3.80
Super of Am Tr AA__ 2.58
Supervised Shrs _10.12 11.00
Trustee Stand Inv C_ 2.50 _
Trusteed Stand Inv D_ 2.63 _
Trusteed Am Bk B _ .58 .82
Trusteed Industry Shrs_ .87 .07
Wellington Fund 14.51 15.95
Quotations furnished by National Asso
ciation of Securities Dealers. Inc. which
states they do not necessarily reflect actual
transactions or flim bids or offers, but
should indicate approximate prices, and
unless otherwise indicated, are as quoted
by the sponsors or issuers.
•Not quoted by sponsors or issuers."
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
BUIIDINQ ASSOCIATION
SU SEVENTH. STREET. N. W.
Established 48 Yean
MEMBER Or
FEDERAL HOME LOAN BANK SYSTEM
D. 0. BUIL01NB AND LOAN UABUC
, U. S. SUILDINB AND LOAN LEABUE
A
U. S. Wheat Farmers
Not Likely to Benefit
First Year of War
Abundant Crops Abroad
May Mean Smaller
American Exports
By the Associated Press.
The first year of European war
will prove no boon for the American
wheat farmer, the Agriculture De
partment declared today.
Exports of American wheat this
season, the department predicted,
may total less than the 107,000,000
bushels sold abroad during the pre
vious season.
In fact, exports of the grain, in
cluding its flour, all over the world
may total only 525,000,000 bushels,
compared with 580,000,000 in the
pxrviuua ocaauu.
Abundant supplies of grain In
most parts of the world and larger
than normal crops in importing
countries tend to limit the increased
purchases ordinarily expected in
wartime.
The wheat which the United
States has sold abroad has been sub
sidized, the Government making up
to exporters the difference between
the domestic price and the lower
world price.
Most farm officials expect little
improvement in the world wheat
mai"ket during the next two years.
Reports indicate that large acreages
will be sown throughout the world
next year.
May End Sugar Control.
Farm officials have virtually de
; cided to lift all restrictions in 1940
on the production of sugar by farm
ers in the continental United States
despite concern expressed that such
action might adversely affect trade
with Cuba, Puerto Rico, Hawaii and
the Philippines.
Under past farm programs, do
mestic sugar producers have been
limited to the production of about
30 per cent of the Nation’s needs.
The balance was imported from the
island possessions and Cuba.
Recent discussions with leaders
in the domestic sugar industry, farm
officials said, have Indicated that a
majority of the producers desired
to be unhampered by restrictions in
1
Lifting of restrictions on domestic
production, some officials said, could
be expected to result in a larger
production in this country and con
sequently a smaller market for sugar
produced by Cuba and the offshore
possessions.
Should sugar sales by the latter
be reduced, the island growers say,
their purchases of industrial goods
in this country might suffer.
No Subsidies.
If there were no sugar-control
program, growers in this country as
well as those in Hawaii and Puerto
Rico would receive no Government
subsidies. The subsidies have been
averaging about $48,000,000 a year,
of which about $33,000,000 went to
producers of sugar cane and sugar
beets in continental United States.
Meanwhile, corn farmers learned
they would be asked to reduce their
plantings in 1940 by an average of
12 per cent.
The 1940 corn-production-control
program, announced Saturday, set a
corn-seeding allotment of 36"638.000
acres for the commercial belt <599
counties in Iowa. Illinois, Indiana,
Ohio Missouri, Kansas. Kentucky,
Nebraska, Minnesota. Wisconsin,
Michigan and South Dakota), com
pared with 41,256.000 acres last year.
Only farmers in the commercial
area will be given corn acreage allot
ments, to be paid for by soil conser
vation and price adjustment pre
miums.
Argentina Increases
Imports From U. S.
By the Associated Press.
NEW YORK. Nov. 27.—Argentine
imports from the United States in
October increased to 18,205,020 pesos
(approximately $5,460,000) compared
with 14,396,274 pesos ($4,315,000) in
the same month a year ago. the
Argentine Information Bureau re
ported today.
Argentine imports during the
month totaled 109.137.041 pesos,
against exports of 127.142,397 pesos,
leaving a favorable trade balance
of 18 005.356 pesos.
For the first 10 months of this
year Argentina had a favorable bal
ance of trade amounting to 209.988.
000 pesos compared with an adverse
balance of 52,018,000 in the same
period of 1938.
Champion Paper
Earns $405,428
In 72 Weeks
By the Associated Press.
NEW YORK, Nov. 27.—Champion
Paper & Fibre Co. and subsidiaries,
for the 12 weeks ended November
12, today reported consolidated net
income of $405,428 after charges,
equal after preferred dividend re
quirements to 53 cents a common
share.
This compared with consolidated
net income of $162,848, or 10 cents
a common share in the comparable
1938 quarter. Principal domestic
plants are at Hamilton, Ohio; Can
ton, N. C., and Houston; Tex.
Tire Shipments Stay
25.7 Per Cent Ahead
Of 1938 Levels
Register Gain Despite
7.7 Per Cent Drop
From September
Special Dispatch to The Star.
NEW YORK, Nov. 27.—Shipments
of automotive casings during Octo
ber, 1939, are estimated to have beer
5,187.942 units. This is 7.7 per cent
lower than the 5,621,088 units
shipped during September, but is
25.7 per cent over shipments foi
October, 1938. according to statistic:
released today by the Rubber Man
ufacturers Association. Inc.
Replacement shipments declinec
seasonally during October to 3.238,
829 units. Although this is 24.1 pel
cent less than September replace
ments, it is 18 per cent more thar
replacement shipments for Octo
ber, 1938.
Shipments of casings for origina
equipment purposes are estimated t<
have been 1,804.648 units, an lncreast
of 45.3 per cent over September, anc
40.2 per cent over October, 1938
These shipments were higher thar
any other October shipments sine:
1925.
Export shipments are estimatec
to have been 144,465 units for Octo
ber, which compares with 112.06!
units for September and 108.826 unit:
during October. 1938.
October production, estimated a
5,430.679 units, was 8.5 per cent
I higher than September and 29.8 pei
: cent more than October, 1938.
Automotive casings in the hand:
1 of manufacturers October 31 are es
j timated to have been 8.656,821 units
1 This represents an increase of 3.!
per cent over September 30 stock:
and 5.1 per cent over the Octobei
31. 1938. inventory.
Bulova Watch Earns
$715,501 in Quarter
By the Associated Press.
! NEW YORK. Nov. 27.—Bulovs
: Watch Co. and subsidiaries reportec
i for the quarter ended September 3(
i net profit of $715,501 (partly esti
| mated), equal to $290 a share, com
! pared with $263,911, or 81 cents t
share, in the-preceding quarter anc
$630,872, or $1.94 a share, In th(
comparable 1938 quarter.
I - - - - - . ., _=
New War Risk Rates
Show Preference
For U. S. Ships
Vessels With American
Flag Regarded as
Safest on Seas
By the Associated Pres*.
NEW YORK, Nov. 27.—American
shipping insurance underwriters,
according to their new war risk
rates today, consider vessels flying
the United States flag the safest
on the high seas.
The underwriters announced a
new schedule of premiums covering
the risks of "war, strike, riots and
civil commotions.”
The schedule excludes any ship
ments to or from any German or
The highest regular rate charged
is 7% per cent the value of the cargo
on any belligerent nation's ship
trading south of Bergen in the
Scandinavian countries, and conse
quently, in the area of Germany's
most intensive submarine campaign.
The rate for neutral flag vessels in
the same area runs from 5 to 7
per cent, according to points of call
and destination.
The preference for United States
flag vessels is demonstrated in the
schedule for imports into Norway
by the northern route. In that case
the rate for United States ships is :
2% per cent; for other neutral flag
ships, 3 per cent, and for belligerent
flag ships, 4 per cent.
Another example is that of Atlan
tic shipping between North and
South America, with United States
and Latin American flag ships
charged Vi of 1 per cent premium;
other neutral flag ships charged %
of 1 per cent, and belligerent flag
ships charged 2 per cent.
A “special strike, riot and civil
tommotion” rate is charged for ship
ments to or from the interior of
Palestine. It is 17% per cent and is
payable in addition to Mediterra
nean war risk premiums
Canal Tolls Gain
Panama Canal tolls during the
first three weeks of November were
; $1,428,804, compared with $1,002,163
during a similar period last year.
--
. m mi . in—
Dividend Voted
By Aluminum
Goods Mfg.
Bj the Awociated Preaa.
NEW YORK, Nov. 27.—Directors
of Aluminum Goods Manufacturing
Co. today declared a dividend of 40
cents a share on the capital stock,
payable December 15 to stock of
record December 1. With this pay
ment total disbursements for the
year amount to $1 a share, against 75
cents in 1938.
MANITOWOC, Wis., Nov. 27 (A*).—
A. J. Vits, president of the Alumi
num Goods Manufacturing Co., an
nounced today a $100,000 Christmas
bonus for 2,900 employes at the
company's plants here and at Two
Rivers, Wis. The bonus represents
2% per cent of the employes’ yearly
earnings.
Pharis Dividend Voted
NEW YORK, Nov. 27 (Special).—
Directors of the Pharis Tire & Rub
ber Co. have declared a dividend
of 15 cents per share on the capital
'tcck, payable December 20 to stock
holders of record December 5.
United States Treasury Position
By the Associated Press.
The position of the Treasury November 24 compared with comparable date a
yegr ,go: November 24. 1939. November 23. 1938.
Receipts - __ $12,560,644.78 $11,851,943.89
Expenditures----- 40.682.397.16 23.402,118.80
Net balance -- - 2.203.506.692.IS 2,499.707.067.73
Working balance Included!!- 1.501 205.677.76 1,883.320.295.89
Customs receipts for month----- „ , zl'l?2il5x£5
Receipts for fiscal vear (July ll--- S li’o 225'§sQ £i 52
Expenditures , 3. ,66.470.503.77 3.509,520.188.39
Excess of expenditures::;;;!:::!!!:__ 1.630.473.582.96 1.334.203.322 00
Gross debt --- 41.286.551.646 70 88.584.212.458.74
Increase above previous day __T.814452 56
(^ld assets__^ 17,318,041.043.77 14.239.574,^4.84
42%
MORTGAGE
LOANS
REFINANCING AND
CONSTRUCTION LOAN. »
Frederick W. Berms, to
' 1627 K St. N.W,
9h*m Nbtiwmt 8280»81$t
ON IMPROVED D. C. AND
NEARDY MARYLAND
PROPERTY
C: v - For buying, rebuilding or refinancing at
? ' , ! prevailing rates of interest.
1 '1<!< '' J Loans repayable monthly.
No charge for appraisal if loan is not made.
■^vVv] Interest charged only on unpaid balance of
' principal.
-i
■ Equitable Co-operative
Building Association
| j 915 F ST. N.W. ORGANIZED 1879
” I i -
Money for Construction Loan*
and
Loans on Completed Propertie*
FIRST DEED OF TRUST ONLY
GEORGE I. BORGER
6*3 Indiana Aae. N.W.
Nat'I 0350
INTERSTATE
INSURES
YOUR SAVINGS
Dividends on your
savings increase prin
cipal rapidly. Insur
ance up to $5,000
means full protection
of that principal. Let
us give you complete
information today.
INTERSTATE
BUILDING ASSOCIATION
Washington Building
15th St. Si Now York Ato.
District 8300
Prompt consider*
tion civen applica
tions for loans on
business and In
vestment properties
in D. C and vi
cinity.
H. CLIFFORD BANGS
200 InTestment Bldg. ME. 0240
LOANS
On Washington
Real Estate
Prompt Decision,
Current Rates and
Courteous Treatment
'Ptficu
17311 K STUfT MAV.
2)0*4. you* PtopesUy. Pequi**
JEiMraM&smM®
Almost every week we receive requests
from persons whose property holdings are
in such condition as to require re-financing.
Possibly the existing loan is about to
expire — or the cost of curtailment
plus renewal expense is such as to he
embarrassing at this time.
We will be glad to discuss the matter with
you, and in the interest of economy if we
make the loan there will be No Commis
sion Charge and you will be forever free
from Renewal Costs. Come in tomorrow
or any day that will suit your convenience.
NATIONAL PERMANENT
BUILDING ASSOCIATION
UNDER SUPERVISION OF UNITED STATES TREASURY
! 719 TonthSt,N.W. (Just North oiG) NAtlonal02S4
I
| F* He Ae WAY TO BUILD
OR BUY A HOME
Send Postcard Today jor
Details of Easy Payment Plan
Before you make arrangements to build or buy a home,
be sure to see Weaver Bros. Our 50 years of experience
will help you make just the financial arrangements you
wish. Under the provisions of the F.H.A., Weaver Bros.,
in many cases, can lend you up to 90% of the appraised
i value of your home—allow you 25 years to pay. And
I small monthly payments take care of the principal, inter*
est (at only 4V$%), insurance and taxes. Send postcard,
or phone for booklet "F.H.A. Loans"—today.
I WE AVER
BR0lm<
MORTAA6E LOANS ||
Lomu for Risidontisl, Butinas Building II
mod Rtfinuneing for ovtr 50 yours 11
WASHINGTON BUILDING • DISTRICT 8300 ||