Evening star. [volume] (Washington, D.C.) 1854-1972, May 06, 1941, Image 21

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Evening star. [volume], May 06, 1941, Page A-19, Image 21
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 06 May 1941. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1941-05-06/ed-1/seq-21/>

Newspaper Page Text

R. C. A. Head Declares
Defense Deliveries
On Schedule
Commitments for U. S.
Drive Reported at
$36,500,000 Mark
By the Associated Piese
NEW YORK May 6 -David Sar
noff, president of Radio Corp. of
America, told stockholders today the
company's construction of defense
equipment—radio and electronic ap
paratus for the Army. Navy and air
force—is "on schedule" and. in some
cases, likely to be ahead of the
expected delivery time.
"The total defense orders and
commitments received by the R C.
A. Mfg. Co. to date.” said Mr.
Sarnoff. “'amount to approximately
$36,500,000
"Much of the apparatus being
manufactured for the Government is
of a confidential character. How
ever, we violate no confidence in
mentioning that it includes commu
nication and electronic equipment
for various types of naval vessels
and aircraft, as well as portable field
apparatus. * * •
Work Is Divided.
"In co-operation with the desires
of the Government to hasten pro
duction and to mobilize as far as
possible the smaller industrial or
ganizations of the country, we have
divided some of the work on our
large contracts with as many as 109
subcontractors. These firms are lo
cated in 16 different States, in the
East. South. Middle West and Far
West.
"The manufacturing program, cov
ering orders received to date, calls
for approximately 11.000.000 man
hours of work to be performed in our
plants. • • *
"R. C A defense contracts under
production are on schedule. We are
speeding up every day. and a number
of the contracts may be completed
Bhead of time."
Mr. Sarnoff reported March quar
ter net profit of $2,734,572. or 14 cents
a common share, compared with
$2,312,893. or 11 cents a share, in the
like 1940 period.
I. S. Order Studied.
Samoff said that "every measure
will be taken to help safeguard the
public services and the lawful rights
of the company" under the new reg
ulations issued by the Federal Com
munications Commission on network
broadcasting.
The policy to be adopted and the
action taken, he said, could be de
termined only after study of the
commission's 150-page printed re
port, which, in effect, ordered the
National Broadcasting Co. wholly
owned by R. C. A to dispose of one
of its networks within 90 days and
told N B. C and the Columbia
Broadcasting System to alter con
tract arrangements with associated
stations.
A resolution offered from the floor,
which would have asked Congress
for an Investigation of the commis
sion and approve any steps officers
of the corporation took, was with
drawn at the request of Mr. Sarnoff.
He said that, because the situation
affected the entire broadcasting in
dustry. a general study of the com
mission's report and careful decision
on any action taken first would be
necessary.
Niles Trammel, president of N B
C . said in answer to a question from
the floor that N B. C. was negotiat
ing for return of A S. CAP music.
Trammel said N B C paid A. S.
C. A. P slightly less than $500,000 in
1940 and. when the agreement ex
pired at the end of the year A S.
C A. P. demanded S2.500.000 for
1941 This amount. Trammel said,
would have "disrupted the industry.”
Washington Exchange
SALES.
Capital Traction 1st 5s—$500 at
104',.
BONDS
PUBLIC UTILITY.
Bid Ask<»cJ.
Anarosi;a A; Pnt ns 1949 loft
Ana Sr Po’ Guar 5s 1949 11’2'a
Cap Traction 1st os 1 ft*: _ 104*3 105Va
City A- Suhurban 5s 1948 lofi _
Georgetown Gas 1st os 1061 1*L.’ _
pot El*r Poy 'U4* 1 ftt-fti in: *2 _ __
Vashincton Gas 5s lftfio 1 .5 _
XVash Rwt A Elec 4s 1951 108 _
MISCELLANEOUS.
t>r Rf & WCd 1st 4Us 1948 100 _
STOCKS
PUBLIC UTILITY
Bid Asked.
Amer Tel Ar Tel <9* __ 149'a - ‘
Capital Transit <a 25) 16 17
N A W Steamboat <4) .. 60 _
Per EifH Pow 6'e pfd <6‘ 114
pot El Pow SJa'T* pfd (5 50) 114
Wash Gas Li com < 1.5m 20 21
Wash Gas Lt pfd (4 50) __*104
Wash Ry a* El com 1g40)_ 5T0 700
Wash R’- A El Dfd (5) _ 115 _
BANK AND TRUST COMPANY
Amer. Sec A Tr Co «eSi _ 230 23ft
Bank of Bethesda « + .75)_ 3o _ ...
Capital (6) _1 To -
Com A- Savjnas (yiO.OO) 325
Liberty cf»: _ _ 1 7 o 7"0
Lincoln <h5» 2oo
Natl Sav A Tr < 4 nm 2C»0 220
Pr Georges Bk A Tr (1 00) _ 20 25
Fisks <r8> 274 285
R-ffg' Pfd * 5 * lOl _ —
Washington <6> _120
W’ash Loan A Tr <e8t 220 _
PIRE INSURANCE
Amencar f*6» 125 _
Firemens (1 40' _ . 31 _
National Union (.75) 14 _
TITLE INSURANCE
Columbia »k3m 141* 16
Peal Estate «m0>. 16<)
MISCELLANEOUS.
Carpel LYirp (2 00) 24 2ft
Garfinckrl com ■ 70i 10*» It’*
G flnckel 6r- cu cv pf < 1 50) 28 29^4
Lanston Monotype '1 om 19 22
Lincoln Serv com «*1 .00' 15
Lincoln Svc or pf '3 50) 43 46
Meraenthaler Lino «pl.OO» 18 19^
Natl Mice A Inv ofd « 35' 43*
people Dr com new I’l.iiO) 21 23
foal Em M k G Dfd (4.50). 6>4
ecurity Storage (4) _ 8n 87
Tor Rof A Wh Com <3) 4 7 53
fidwri k Loth com «s2.00) 43 50
ifdwd A Loth Dfd «7» 122
•Ex dividend
♦ Plus extras, a 25c paid so far this year.
#2*/- extra. ff $6.00 extra paid De
cember 28 19(o h S5.no extra k 20c
extra m $1.50 extra p5J.no paid Sep
tember 30 1940. 5 52.00 Paid in 1940
y 510.00 extra
Boston Wool Market
BOSTON May 6 V <U. S. Department
ff Agriculture *.— Domestic wools werp re
ceiving a very moderate demand today
Fine territory wools in original bags were
bringing around 51 to M.o.i scoured basis,
for average to good French combing length.
Combing t hrrr-eighth*' and quarter-blood
bnclu fleece wool- were bringing 44 to 4»?
cents in the grease delivered to users.
Smith American wools of fine and half
blood grade were selling quite freely at
•teadT price?.
Rubber Futures
Nrw YORK M»» R —Crude rubber
futtirr* bDfncd S to 1* higher Nbr July.
S3 R.V f^ptrmbrr. "3 ho. Dorembfr. 23 00
53 01. Old: Unquoted
Sears Reveals
Big Increase
In Sales
By the Associated Tress.
CHICAGO. May 6.—Sales of Sears,
Roebuck & Co in April totaled $75,
718.580, a gain of 34.3 per cent over
$56,372,006 in April, 1940, the com
pany reported today.
In the three months ended April
30. sales were $192 091.244. up 29.7
per cent, over $148,106,749 in the like
1940 period.
Quality Will Rule
Clothing Business,
Experts Say
Quick Style Changes
Expected to Have
Little Influence
By the Associated Press.
NEW YORK. Mav 6 —Quality
instead of fashion will rule Ameri
can clothing purchases for the next
few months or even years, fashion
experts say.
The explanation is a new group
of customers with incomes of from
$1,000 to $3 000 a year, many of
them formerly on W. P A.. Leo
Cherne of the Research Institute of
America told the Fashion Group
yesterday.
"They will not be vulnerable to !
the doctrine of obsolescence or quick
style change," he said, "as the group
in the $4,000 to $50,000 income group.
"The new buyers are going to pull
your fabrics apart and ask how
long the merchandise will last."
Sara Pennoyer of Bonwit Teller
& Co. predicted fewer fashions of
“the here-todav-gone-tomorrow va
riety.”
"Nowr, with the arrival of a defense
psychology, quality has become im- |
portant to every woman." she said. !
“When the customer must spend
with care, quality is a long-range
economy.”
Herbert Sondheim of the firm
bearing that name, said the "luxury
market” was thinning out
He urged that merchants stress
quality rather than luxury in ad
vertisements.
“There is." he added, "a tremen
dous, practically untouched, market
among college girls for quality wear
ing appearel.”
Investing Companies
NEW YORK. May 6 t —National Asso
ciation Securities D*aleio. Inc
‘Closing Quotations)
Bid A‘k*d.
Aeronaut Set h 79 7 38
Affil i ed F Inc_ _ ”.17 2.38
•Amerex Hold .. .. . 12 "0 13.50 ■
Am Bus Shrs__ 2.59 2 M
Am For Inv 6 21 6 85 1
Ax'* Houghton Fd _ PM 10 58
•Bankers Nat Inv Corp_ 3 875 4 875
Bn sic Industry 3 in
•Blair A: Co . _ 50 1 “0
BoMon Fund Inc___12 5* 13.53
Broad S: Inv __ 10 35 2" OC
Bullock Fund _ _ 11.05 12.11
Can Inv Fund. _ 2 4“ 3 “5
Chemical Fund__ 8 43 O 12
Comwlth Invent . 3 17 3 45 ,
Coroora’e Trust 2 0“
Corporate Trust A A_ 1
Corp Tr Accum _ 1 8!* -
Corp Tr A A Mod. _- 2.26 -
Corp Tr Acc Mod_ 2.26 -
Cumu’a'ive Tr Sh _ 3.85 -
Depos Ins Shrs A” . 2 57 __
Diversified Tr C _ 3.05
Dividend Shrs _ .97 107
Eat A: How Bp) Fd _ 16 95 18.02
Equity Corp S3 pf _ 13 “0 1.3.75
Fidelity Fund Inc _ 14.28 15.38
•First Boston Corp_13.125 i4 “25
First Mutual Tr Fd_ 5 24 5.80
Fiscal Fund Bk Sh_ 2 “3 2.26
Fiscal Fund Ins _— 2.88 3.22
Fixed Trust Sh A _ 7.90
Found Tr Sh A __ 3 1“ '•“0
Fund Imestors Inc. _ 14 2) 15 61
: Fund Tr Shrs A .T 3.P6 4 7 1
Fund Tr Shrs B - 3.61 _o
Gen Capital Corp _24 26 38
i Gen Investors Tr _ 4 23 4 “1
I Group Src Agricultural_ 3.93 4 43
| Group Sec Automobile_ 3 33 3 66
Group Ser A'-naMon _ 6 28 6 91
Group pec Bmldins _ 4.33 4 77
Group Sec Chemical - 5 19 5 71
Oro :p Fpc Foods 3 4. 3.83
t Group Sec Merrhe ndising 4 34 4.8
Group Sec Minins 4 44 4 «9
Group Sec Petroleum_ 3 98 4 39
Group Sec R R Equip.- 3 “5 3.37
Group Sec Steel _ - 4 2 1 4.“4
Group Src Tobacco - - 3 .9 4 18
Income Found Fd_ 1 19 130
Incorp Investors 13.06 14 94
Independence Tr Sh - 1 83 -.05
InsU Sec. Bank Group _ >.-»
Instl Sec: Insurance __ 1 12 1.-3
Investment Co Am _ 15.52 16., 8
investors Fd c me _ * «■**»*
Keystone Custodn B 1 _ ?9.ol 11.JO
Keystone Custodn B 2_ 22.56 24.7 8
Keystone Custodn B 1 14 10 lo.^O
Keystone Custodn B 4 6.H9 7.57
Keyston» Custodn K l - 14.28 15 • '»
Kfvstcne Custodn K 2. 11.11 12 4!*
Kbv rone Custodn S 2 - 1" M 1 1 92
Keystone Custodn S 3 . 7.51 8 29
Keystone Custodn S 4 2.87 1 19
Manhat Bond Fund _ 7.11 8.09
Maryland Fund . 1 (»o 1.90 1
Mas- Invest Tr _ 3 6.51 17.77
Mass Invent *'d Fd Inc . . . 7 >2 8 41
Mu'url Invest _ 7.89 8.63 j
Natior Wide Sec _ . 1.11
Nation Wide Voting __ .96 1 08 I
Nafl Investors 4 68 5 04
Natl Sec Ser-Income Ser 4 16 4 HO '
Na*l Sec Ser-Bonri Ser 4 92 5 42
New England Fund •• 9 7 5 10.51
N Y S eeks Automobile 1.8? 4 22
N Y Stocks Aviation 8 52 9 19
i N Y Stocks. Bk Stocks - 7 17 8 19
' N Y Stocks Bldg Supply 4 56 5.04
N Y Stocks Chemical _ 7 09 7.82
N Y Stocks Elec Equip 5 90 6 52
i N Y Stocks Insurance __ 0 07 9 99
IN Y Stocks Machinery ♦'•57 7.25
| N Y Stocks Oils — 6 7o 7.40
j N Y Stocks Railroad l.oi 9 93
N Y Stocks R R Equip 4.fWI 5.41
I N Y Stocks Steel 5.55 6.14
' North Am Bond Tr <-fs 40.00
I Nor Air. Tr Shares 1951.. 1.81 _
! Nor Am Tr Sh 1955 2.22 -m
j Nor An. Tr Sh 1956 i 2.17
Nor Am Tr Sli 1958 - 3 77
Plymouth Fund Inc .31 .36
Putnam <G> Fund .- 1 1.63 3 2.44
! Quarterly Income Sh 4 60 5.50
1 *Schofllkopf-Hut A: Pom 125 .50
i Selene'1 Am Sh Inc 7 40 8.07
Selected Income Sh _ _ 3 '»9
Sovereign Invest _ 5.23 5.7 9
Spencei Trask Fund _12.05 12.79
Stand util Inc _ 18 22
•State Street Invest_ 56 125 59.375
Super of Am Tr AA _ 1.95
•Truster Stand Inv C-- 1 96
•Truste. Stand Inv D_ 1.87
Trusteed Am Bk B _ _ .4 1 .49
Trusteed Industry Shrs 66 7 4
Wellington Fund 12.91 14.21
Quotations furnished bv National Asso
ciation of Securities Dealers. Inc which
states they do not necessarily reflect ac
! rual transactions or Arm bid' or offers,
t but should indicate approximate prices.
and unless otherwise indicated are as
; quoted by the sponsors or issuers.
•Not quoted by sponsors or issuers.
Chicago Livestock
CHICAGO May h ■4>* (United States De
partment of Agriculture) —Salable hogs,
j l i.niM* totai. 21.009 market fairly active,
i generally steady to in lower most loss
j on weights under 25u pounds in early
| trading fop. 8.76: bulk 180-3OO pounds.
8.5n-7<); heavier weights scarce sows
around steady, good 400-500 pounds. 7.7 5
| 8.00; lighter weights to 8.25.
Salable sheep. 5.000: total. 10.000: late
Monday, fed Iambs, steady to strong, bulk
good and choice 72-98-pound fed wooled
Westerns, ll.oo-ll.85; few best loads.
11.40-05; top 11.75 to outsiders; some
weighty and unfinished lambs. 10 25-75;
clippers very scarce: today s trade, lamb
trade rather aclive. fully steady, under*
! tone firm some early sales wooled West
erns. 11.00-11.05; around three loads
California spring lambs. 12.15 to packers;
! one best to city butchers. 12 25: load 109
i pound shorn Westerns 9.25; lighter weights
held above native ewes down from 7.00
generally with best light weights. 7.25.
Salable cattle. 9.500. calves. 1.200 ex
tremely draggv market; weighty steers
without reliable outlet: 25 lower on bulk
offerings scaling o\er 1.200 pounds; year
ling.', and light steers steary to 25 lower:
only common and medium holding steady
at 9 50-8.60 and below, especially 9.00
down best yearlings early. 12.00. some
held higher most weighty steers. 11.00
down to 9 75 and below fed heifers In
liberal supply, market steady to weak
m^sMv iC.Oti down, mostly 1000-11.50.
weighty sausage bulls to 8 40.
United States Treasury Position
By the Associated Press.
The position of the Treasury May 2. compared with comparable date a year aao
Mar 3.1941. May 3- 1940.
Receipts _ *39.176.363.83 *34.733,573.98
Expenditures _ 52,717,399.56 *32.921,814.78
Net balance _ 2.337,205.529 33 5,207.961.96(1.44
Vnrlcin* balance included_ 1.591.287.833 20 1.483 630.088.51
Customs receipts for month _ 4,486.925.23 2.829.725.90
Receipt* for fiscal rear (July 11_ 5 994.147.228 :i 4 520 5P4 488 88
Expenditures _ 10.246,055 831.09 8 040 6*6.373.70
Bxeess of expenditures___ 4 2,*1,88* 604.38 3 220.094.084.82
Gref debt __ _ 47 235,065 ISP.33 42 864.319 184 59
Dillon Read Heads
Union Electric Co.
Bond Syndicate
$95,000,000 Offering
Escapes S. E. C. Rule
On Bidding
By !he Associated Press,
NEW YORK. May Dillon Read
& Co. will head a group of 100
underwriters of $95,000,000 in se
curities of the Union Electric Co.
of Missouri, registered yesterday
with the Securities and Exchange
Commission.
By filing yesterday, the company,
rgest operating subsidiary of the
. jrth American Co., escaped the
S. E. C.'s rule that such issues
must L put up for competitive
lidding. The S. E. C. rule goes into
effect tomorrow.
The North American Co. an
nounced it plans to make available
to Union Electric $10,000,000 in new
capital "in order to aid in financ
ing Union Electric's active partici
pation in the national defense pro
gram. which requires construction
of additional power facilities."
Proceeds of the $95,000,000 issue—
$80,000,000 in first-mortgage obliga
tions and 150.000 shares of no-par
preferred stock—will be used to re
deem $80,000,000 in 334 per cent
bonds due in 1962 and $15,000,000
in 3 per cent notes due in 1942,
the entile funded debt of Union
Electric.
The North American Co.'s help
will be in the form of purchases
during the current calendar year of
$10,000,000 in Union Electric com
mon stock.
In addition, company sources said.
Union Electric intends to issue
$10,000,000 in first-mortgage bonds
as and when additional funds are
required.
Washington Produce
BUTTER—93 score, tubs. 3rt*a: 1-pound
prints .3 7: 14-pound prints. 37».a. PC score,
tubs. 35'.* 1 -pound prints, 30. >4-pound
prints. 30' u: 91 score tubs. 3.V.; 1-pound
prims. 30: '4-pound print*. .30*^: po score,
rubs 35*.• I-pound prints 3H J^-oound
print*, rto’a: S9 score, tub*. H-pound
prints. 3.'»'y. ’4-pound prims. 36: ** scoie
tub* 341 .• 1-pound prims. 35. U-Pound
print* .3.V *
LIVESTOCK—Caive*. 11: .*princ lambs
In Dias. 1 Co-Kin pounds. 7.15-7 40 130
Ijo oound*. 7 C5-7.Sn: 1 4*»-1 5<» poind*.
7 H5-7 90: 160-iso pounds. 790-s15:
18n-CC0 pounds k.o:>-s :10. sow*. 6 15
6 75 calve: lu.50-LC.nt'
F’om Aaricultural Marketing Service.
Price.; paid nei f o b Washington
EGGS- Market steam Price' paid tor
Federal-State graded e«gs received from
grading stations 'May ♦»> Whites. U S.
extra* lar-ie CO-37. U. S extra* medi
ums. C3. U S standards, large C3-C4. U.
S Standard*, mediums. Cn-CC U S.
trade* CO Browns. U S extras large.
C4-CH U S extra* medium.*. CC: U S.
standards, large CC-C-3. U S standards
mediums. ‘10-21 : U. S. trades. CO For
nearby ungrade eggs, current receipts,
white* Cl mixed color* Co.
LIVE POULTRY—Markr steady. Fowl,
coloted all size* 19-CO No Cs 1C-13.
Leghorn hen* all s’zes 13-15 Roosters.
1«»-1 C Chickens Virsmia broilers and
frver'. all *.ze* 1P-C" No Cs 13-14
Delaware Rock‘ and cros*e* broiler* and
fryer* all size* IK-19 No Cs. 13-14
Turkey*, old tom*. 14-16 old hens. 16-1*
No Cs. 1C
Dividends Announced
NEW YORK May 6 —Dividends de
clared 'prepar'd by FVch Publishing Co,-.
Initial.
Pe- 8: k of Pay
Ra e nod record able.
Venezuela Syndicate 5c 5-3 5-14
Resumed.
Civic Finance A 2’zc __ 5-1 5-1
Increased.
Sunonds Saw X St __7oc 5-24 6-14
El Paso Nat Ga> 60c Q 6-13 6-30
Year End.
Vick Chem __ 60c __ 5-16 6-2
Extra
Minn Honeywell Reg 25c . 5-24 6-10
SheafTer »W A » Pen 25r 5-15 5-26
Vick Chem It*c . 5-16 6-2
Accumulations.
Chicago CorD *3 pf 50c 5-15 6-1
Phoenix Hos 7^
lst pf 87'2C . _ 5-17 6-1
U S Leather 7%
pr pf *2 . 5-16 5-?P
Liquidating.
Prudential In' Psr 52.50 3-P 5-15
Soring Valley Ltd 5<te 5-14 6-16
Regular
Am Thermo* Boftle 50c 4-19 5-1
Barlow A Seehg cum A 3*>c O 5-11 6-2
Brun«w><*k Balke CoP
55 Df 51 75 Q 6-20 7-1
: Caterpillar Tractor 5nc Q 5-15 5-31
Cl»v Ire A* Fuel
6V' Pf $1.82*a Q 5-20 6-2
Coca-Cola 75c 8-12 7-1
! Coca-Cola 53 r>f A .51 50 S 6-12 7-1
Fed Comp A Whse 50c Q 5-14 5-26
, Firestone TAR
6Pf A 81 50 Q 5-15 6-1
General Motors «l 5-15 6-12
Gen Motors *5 pf 51 25 Q 7-7 8-1
; Gossard H W 25c 5-15 6-2
1 Inter Nickel of Can 5oc Q 5-31 6-30
Mich Pub Service 25c Q 5-15 5-31
I Minn Honeywell Re? 50c Q 5-24 6-10
I Minn Honeyw Reg pf B 5! Q 5-20 5-31
Ohio Oil 6' pf 81.50 Q 6-2 6-14
Std Dredging cv pf 4«»c O 5-20 6-2
S'd Oil Indiana 25c Q 5-16 6-16
Tilo Rnofine cv pf 35c Q 5-26 6-16
Walgreen Co 4<tc Q 5-20 6-20
Walereen Co 4 's',
7>f 41.12'a Q 5-15 6-14
Wolverine Tube
7 '#■ pf 81.75 Q 5-1P 6-2
Aluminum Ind St 15c 5-3J 6-i«
Coca-Cola ILn:ernat «5 7n 6-12 7-1
Jn ern Nickel Can I,td 50r 5-31 6-3«*
Lunp-Wflls __ '’Sr © .V’l H-15
Vick Chem__50c © 3-15 *S-2
--
I
Insurance Stocks
I NEW YORK May « R—National A«
; sociation Securities Dealers. Inr.
1 Bid. Asked
Aetna Cas <4a> _ 114 11*
: Aetna Ins tl.uoa* __ ftn34 .V’H
i A^tna Life 11.20a* _ 26*4 273-4
Am Fquir » I » _ 17 34 !RV«
Am Ins Nwk <1 a *__ _ _ 1134 13*4
Am Re-Ins < I 60a> _ 40 42
Am Reserve 'lei _ 1*? l.t*2
Am Surefv (21; > _ __ 46’a 4K'-a
Automobile <la* __ ,331 a 35Va
Balt Amer 4.20a)_ fi34 734
Boston < 16a t _ftfto 61(i
Carolina «1 :{Oa i __ 27* a 20
City of N Y (1 30i _ 203« 22*4
Conn Gen Life » 80» _ 21 \ 23*<4
Contin Cas *1.20a) _ 20 31
Pid A Deo (4a* _ __ .. 113*a 117*^
Firemen's Nwk < 40> _ __ 8 0J4
Frank Fire <la» _ 20 3o*2 •
1 Gen ReinMir (’aR*_ 36 38Va I
! Georc Home <la> __ 22'2 2ft
Glens Falls <].«<» _ 4i>'4 42'4
| Globe A- ReD (12> _ P34 ]034 I
Globe A R<it _ _ 7 12 ]«>
I Gt. Amer Ins «1a> __ 2ft 26*3
! Hanover (1.20* __ 2334 2ft’4
1 Hartford Fire (2a)__I_ 84 87
[Home Fire See _ ?»4 2’4
'Home Ins (1.20a» _ 201* 3J»^
Homestead <Ii _ _ J7 J6*a
Knickerbocker •1 _ 8», p*2
Lincoln Fire _ _ 1 2
I Maryland Cas ”” 2t4 31,
i Mass Bond <313» _ fii*4 63*,*
I Natl Fire <2) ... . _ 58»2
Natl Liberty < 20a* 7 8
New Am Cas < 8fti _16*4 is
|N Hampshire «1.6oa) _ 42\ 44*.4
I N Y Fire *.8n> _ 123.4 141^
Nor River 41 > _ _I~” 2.3*.4 0ft*'4
[ Noitheast Ins _ 4*t '.s*.
1 Pl'oenir ila> _ I sn k7
Prov Wash <la» _ __ 3"*a 34*i
Rep Ins Tex (1.2n» _ 27 °8*4
i Revere <P> In (1.20a) _ 23’4 2434
Rh Is| Ins __ 2», 4
' St Paul Fire »S» _ _23ft '’4ft
I SprinRfleld '4'aa)_ I f 1«»2
Sun Life (1ft) _ _ 215 050 .
Travelers (16) __ _ 305 405
1 U S Fide A: G (1) 21 ’•’*; I
U S Fire (2) __ 4ft’4 47*4 i
Westchester (1.20a) 32U 34v4
a Also extra or extras e—Declared or
paid so far this rear, e Paid last year
Quotations furnished by National Asso- i
ciation of Securities Dealers. Inc., which
slate' they do not necessarily reflect actual
transactions or Arm bids or offers, but
should indicate approximate prices.
i Baltimore Stocks
Special Dispatch to The Stir.
BALTIMORE Mey 6 —
Biles STOCKS Huh Low Close,
o Baltimore Trens .30 .30 30
ICon Pow 4>pf 114’. 114s. 114*,
50 Davison Chem 7', 71, 7*.
150 East Sue pf vt__ 24>a 14 14'j
100 Nor Amer Oil 1 05 1.05 1.05
10 Mt Ver Wd Mills 1 55 1 55 155
11 Northern Central 90’, PR’, 9o»,
100 New Amster Cas 17 17 17
915 U S Fidel & Guar 21’« 11V, 11’,
BONDS—
17500 Bal Tr deb 4s A. 41 41 41
Metal Market
NEW YORK. May 6 UP-Copper steady;
electrolytic, spot Connecticut Valley. 12.00;
export, fas. New York ll.on-12.00 Tin
steady; sno' and nearby, 51.00: forward.
51.50 Lead steady: spot. New York 5*5
90 East St Louis. 5.70. Zinc steady.
Esst S' Lout? spot and forward 7 25.
Pi* Iron, aluminum, antimony, uuicksllver.
platinum. Chinese wolframite and domestic
seneeltt* unehanesA.
Oil Production
Shows Decline
During Week
Bt the Associated Press
TULSA, Okla., May 6—Daily
crude oil production in the United
States declined 236320 barrels to
3.498.620 barrels for the week ended
May 3, the Oil and Gas Journal said
today.
Texas production dropped 195,450
barrels to 1.199,750; East Texas,
70,000 to 304.000: California, 17.725
to 584,250: Kansas, 4.300 to 209.100;
Eastern fields, 14.800 to 105.400: Il
linois. 4.045 to 323,300; Oklahoma,
1.175 to 413,900, and the Rocky
Mountain States. 2,660 to 101,570.
Pioduction was up in Louisiana
1,475 barrels daily to 307,525 and In
Michigan 905 barrels daily to 38,005.
Gold Imports Reported
At $10,390,982 Mark
Br the Associated Press.
Gold imports totaled $10,390,982 in
the week ended April 30.
The amount was about $700,000;
more than the preceding week and
about in line with recent figures.
Principal shipments were $7,265,474
from Canada and $1,518,020 from
Hong Kong.
Foreign gold deposited under ear
mark in Federal Reserve banks in
! creased $11612.162 to a total of
$1 916.919.943.
Silver imports were somewhat
higher than usual, totaling $1,568.
331. including $997,137 from Mexico
and $265,626 from Canada.
Exports included $899 of gold and
$435,729 of silver.
Savage Arms Plans
Vote in Stock Split
B> the Associated Press.
NEW YORK, May 6 —Stockhold
ers of Savage Arms Corp , one of the
most active defense armsmakers in
[ the United States, were summoned
today to a special meeting May 22
at Wilmington. Del. to vote on a
proposal of a four-for-one splitup
of stock.
The stock gained $175 a share in
todav's market, closing at a new
1941 high of $50.50.
Foreign Exchange
NEW YORK May h p —The Canadian
do'lai lost of a cent m relation :o the
\mencar dollar ;n foreign exchange trad
ing today Bo*h the Hone Kong and
Shanghai dollars showed ‘■trengtb with
Hons Konc up 0 09 of a cent and Shang
hai up imM of a cent The only other
chant ' noted was n earn of 0 02 of a cent
by the Mexican peso
Late ra'es follow 'Great Britain In dol
, lars. others in cents*.
Canada.
Official Canadian Control Board ra’es
for Uni ed State' dollars Buying 10 per
ctnt premium selling. M per cent nre
i mium eouivalent to discounts on Cana
dian dollar in Nff. York of buying. 9.91
per cenf selling 9 on per cent.
Canadian dollar -n Ne«- Yorx open
market 12per cent discount, or 87.87*a
United States cents.
Europe
Great Britain official * Bankers’ For
eign Exchange Committee ra’*r buying.
4 '". selling I 04 open mark*-- cables
4o ;,7 Germany- 4° or>n benevolent
1*».ho Finland. 2 05r. Hungary. 19 77n.
T*al> 5 "H Portugal 4 oj Sweden
-3 Sw,*zerland 'x'. 23 21'*; Yugo
slavia, 2.35n
l.alin America.
Argentina official. 29 7: free 23.80;
Brazil official, rt <*5n free 5.00n; Mex
•co. 20 7 on.
Far East.
j Japan 23 48 Hong Kcni 24 30 Shang
hai 3 :;4
•Rates in spot cables unless otherwise
indicated i
n Nr rmnal
x For commercial transaction*.
Short-Term Securities
(Reported by Smith Barney A- Co >
3-d Offer
Ala or gnu ■ A ' 5r- 1943 Jfifli,
Allegheny Corp cv -is 19(4 pn% 914
Am'r Tel A- Tel 5'2s IHt:; ]n-;4 1074
Ai A Charloite R 4 js I 944 994 101
Austin A Norihw .if 194 1 994 H>9
Brooklyn Un on Gas G iH4.» in9’a ] |(i
Cen- RR of Ga of 194 7 7m T»J«
Child' Co 5f 194.1 574 .33
Colo Fuel A Iron ns 11*43 ldo1. I11M
Conn A Passu R RR 4 1943 Inn-'.
Consol Edison :i',s 194M 103*, in:i's
Cuba Nor Rays 54s 194'.’ II 17-**
Del A Hudson 4s 1943 544 544
Fed Lt A Traction 5s 1947 101 4 lot:4
Goth Silk Hosiery 5s 1949 7ri 811
G: Rap A Ind 4‘as 1941 litii3.
Inti Hydro-Electric fis 1944 414 444
Int! Mer Marine Ms 1941 84 854
B F Keith tis 1.94(i Ini3, 1 (17
Laclede Gas Light 5s 1941 93 933*
Lake Erie A Westn os 1941 99-, Inn
Ligeet: A- Meyers Is 1944 1 19s, 119*,
P Lorillard Co Is 1944 119*, 1 do
N 3' Sen A Hurt Riv 4' 1943 Inn*, J01
N Y Trap Rork Ms 194M 9 4 98
Norfolk A- Southern 5s 1941 94
Penna RR Co 4s 1943 1"M4
Pen G Lt A Coke Ms 1943 199 111
Phils Ball A Wash 4s 1943 in; 4
S'udebaker Coin Ms 1945 lot Jn.3*,
Te.s A New Orleans o' lull 93'■ 94 4
Union Oil of Calif Ms 1947 ldo*,
U'ah Power A Light os 1944 103 4 103
Western N Y A Pa 4s J94 ! Iti53» 1064
Freight Loadings
NEW YORK May K -T —Rfvpnue
frcughi cars handled by railroad* reporting
today for the week ended May .1 included
May :i. prey wk. Yr aeo
New York Central S7 5«1 7MI1
Frisco 15.557 11 .'»55
Northwestern :u.nl 7 ;tl.»i8ft 128.517
Sourheri Railway 41.947 55 :4M*»
I.ehigh Valley 1K.*2#V> Id. 175 15.07 5
New Haven 28.084 *25.997 *21.7OK
Missouri Pacific *25 2:1.40 : 21 42»;
Erie *2» :;17 *27.tlo 125 587
Great Northern 27 1 55 *24 88n 18.758
Northern Faciflc J5.987 13.986 1:3.110
Dry Goods Market
NEW YORK May « UP>.—Resumption
of yesterday's haevy business in Worth
Si reel produced advances of cent a
yard and asking prices for popular num
bers.
Demand was well distributed and de
sired deliveries were spread over the bal
ance of the year Total volume for yes
terdays print cloth and related items was
fstima'ed at around i5.noo.oou yards
Although demand for rayons slackened,
prices held firm.
Woolen piece goods prices held at firm
levels with sellers reluctant to make ex
i tensive commitments. Silk prices re
mained nominally unchanged.
I Federal Land Banks
NE’V YORK. May 6 <JP).—Federal Land
Bank bonds Bid Asked
i 4s July 1940-44 _110'a lin»4
•Was May 1955-45_ 10W« lOB'j
3s July 1855-45,,_108sa 108’.,
13s Jai, 195ti-4fi__ 109s, 199’,
13* May 1056-40 111) 1 1<"4
Property Management
/fCfcUR Property Management
V Department is so thor
oughly familiar with the details
of management—and how to
cope with them—that you'll find
it well worth while to place your
apartment house and residen
tial properties in our hands.
Talk with us about it.
B. F. SAUL CO.
925 15th Si. Natl. 2100
Mortgage Loant
Duff Is Appointed
Division Traffic
Chief for P. C. A.
V. K. Stevens Named
District Manager
For Airlines
Establishment, of a new office of
division traffic manager and the ap
pointment of new personnel in the
district traffic office at Washington,
D. c., as a pan
of the reorgani
zation of its traf
fic departm e n t
has been an
nounced by
Pennsylva n i a -
Central Airlines.
Under the or- '
ganization 1
changes. Donald
A. Duff has been
appointed divi
sion traffic man
ager of the East- I
ern division of I
the airline, which
includes the
D. A. Duff.
routes from Washington to Pitts
burgh. Akron. Cleveland, Baltimore,
Harrisburg and Buffalo.
V. K Stephens, formerly district
traffic manager at Norfolk, has been
named district traffic manager at
Washington to fill the position
vacated by Duff.
Vais Is Promoted.
Early Vais, formerly chief clerk of
the traffic department of P-C. A ,
has been appointed assistant dis
trict traffic manager.
L. H Dennis, formerly assistant
to Mr. Duff, has been named office
V. K. Stephen*.
manager of the
airline traffic de
partment.
Headquarte r s
for all of the
new appointees
have been estab
lished at the i
Washington Na
tional Airport,
Gravelly Point,
Va . where Penn
sylvania-Central
was the first air
line to move into
the huge new
airport adminis
tration building.
The entire general traffic staff of the
i line, comprising approximately 50
employes, is now located at the new
air terminal where operations are
expected to begin in June.
Started in 1930.
Duff the new division manager,
i has been with Pennsylvania-Central
and predecessor companies since
1930 and is one of two men in the
traffic department recently awarded
10-year service pins by the airline.
Previous to coming to Washington
in 1937 he served the company as
district manager at Pittsburgh, di
j vision manager at Detroit and di
! rector of publicity and advertising.
. A graduate of the University of
Pittsburgh. Duff is a resident of
Arlington County. Va.
Stephens, the new district man
ager. joined P.-C. A at Washing
ton in March. 1937. following several
vears’ employment by the United
| States Treasury Department. He
has been district manager at Nor
folk since the opening of the Wash
ington-to-Norfolk route April 1.
1938 Stephens attended the George
j Washington University law school
' for one year after graduation from
j Indiana University in 1935.
I
Huge Dry Dock Ordered
By Galveston Company
Vr tl e r.arpd Pr»*s.
MOBILE. Ala . May 6-A contract
to build an 18.000-ton self-docking
steel floating dry dock was an
nounced here yesterday by the
Alabama Dry Dock & Shipbuild
ing Co.
The dock will cost approximately
$1,500,000. John M. Griser, vice
president of the company, estimated
that the construction will provide
employment for an average of 200
additional men for 11-month period.
The dock will be constructed for
| Todd-Galveston Dry Docks, Inc., of
Galveston. Tex, and upon comple
tion the dock sections will be towed
to Galveston and put into commis
sion.
The dock, largest south of New
York with the exception of a graving
dock at the Charleston Navy Yard,
will be of steel construction. 614 feet
long. 116 feet wide and 52 feet 9
; inches in depth. It will be con
! strutted in three sections. The
j main or center section will be 384
feet long.
I The largest dry dock on the Gulf
, of Mexico at present is the 12.000
! ton dock at Alabama's main plant
j in Mobile.
Huge Wheat Harvest
Expected to Bring
Traffic Jam
Defense Needs May
Make Movement to
Market Difficult
By the Associated Press.
KANSAS CITY, May World
War 1 brought *3 wheat, automobiles
and silk shirts to Midwestern
farmers. World War II has brought
a problem.
Good spring rains indicate a heavy
wheat crop this summer. Defense
demands on railroad facilities may
make its movement to market
difficult when when harvest starts.
Railroad and elevator men, Gov
ernment officials and bankers here 1
to discuss the problem saw a threat ;
of wheat piled in yellow dunes on i
the prairies, while box cars were j
tied up with defense loads.
The difficulty is complicated by
the fact much of last year's bumper
crop remains stored in country [
elevators. Usually railroads provide '
box cars to small elevators to hold
the crop until it can be shipped to
larger terminals. This year they
may not because of a concentration
of cars in the East.
"Last year the Santa Fe Railroad
had between 7 000 and 8.000 box
cars stored for grain loading at
Middle Western country stations,"
James J. Mahoney. Chicago, gen
eral superintendent of transporta
tion for the Santa Fe Railroad, told .
the conference. "Today the rail-1
road has only 1.836 boxcars in the
same position ”
L. M. Betts, Washington. D C.
car service manager in the boxcar
division of the American Associa
tion of Railroads, said "the com
bination of moving old grain out of
the Southwest at a time when we
are building up the supply of cars
to take care of the new crop makes
an especially difficult transporta
tion situation. However, we intend
to take care of the crop movement
provided there is a place where the
cats can be unloaded promptly."
A 12-man committee, headed by
Roy A. Wilson of Manhattan. Kans.,
Kansas State A A A. chairman.
; evolved from the conference. It will
report to J. E. Wells of the Farm
Credit Administration, special assist
ant to Secretary of Agriculture
Wickard, on possible solutions.
! Over 20.000.000 acres of sod land
1 in Russia was plowed for crops last
' year.
• *_ - - - __
Money for Construction Loans
and
Loans on Completed Properties
iO«nrr occupied or rental)
Favorable Rate
FIRST DEED OF TRIST ONLT
GEORGE I. BORGER
ft43 Indians Are. Pf.W.
Nat l 0330
McMillan
POST BINDERS
DO YOU WANT
A LOAN TO BUY
YOUR OWN HOME?
We ll gladly loan you money on
improved real ee'a'e in Vir
ginia. Maryland and The Dis
trict of Columbia for buyinc.
reflnancina or rebuilding. Ask
us /or complete details.
NORTHWESTERN
. -fedekal,
SAVINGS & LOAfi ASSN.
1 COLORADO BLDG.
BE « IM- »♦ l*th >W.
Branch Takoma Park i
- ^
We are pleased to announce that
MR. J. CREIGHTON RlEPE
is now associated with us as Manager
of our Municipal Department.
Alex.Brown & Sons
Htabm Maw Tark and BaMaara Stock bchaagaa
Urakart Maw Tark Curb behaa«a Aaaeciata)
New York
BALTIMORE
Chicago •
Washington
80th Anniversary Year ^
HOMES FROM
CHANGE
\v
Small change can run into big money and
buy or build that home you want. Try sav
ing something each month with this associa
tion. It’* a convenient way to save and an
easy way to start saving for that home of
your own. Consult one of our officers today!
ORIENTAL BUILDING ASSOCIATION
600 F St. N.W, No. 6 HAtioiul 7100
ruder U. 8. gueerrl.lea
C. & N. W. Will Request
Added Equipment
the Associated Press.
Trustees of the Chicago * North
Western Railway were authorized
bv the Federal Court today to file a
petition for the purchase of 1.000 all
steel box cars to cost *3,100.000
A hearing was set for May 12 on
the petition which provided for a 25
per cent payment on the purchas*
cost in cash and the remainder
through $2,325,000 in equipment
trust certificates which would ma
ture over 10 years.
REFINANCE^
BUYor BUILD
uoti/t /tof n e wit/t
PERPETUAL'S
Real Estate Loans
on improved or to be improved prop
erty in the District of Columbia and
nearby Maryland and Virginia . . .
Payments include interest and cur
fail. No commissions—no renewals.
PERPETUAL
Building Association
("WHY DO WE HAVE
No WASTE SO MUCH
TIME FINDING i
RECORDS?" I
P.rUrJ, !
Awhtkit
/• r tilktr
unu1/ k r'«-^
tritsl tprrcttm, ^
The new DIE BOLD Business Tool that
puts office records MVEELSF
The Cardineer speeds posting by bringing from 1500 to 6000
records to the operator. Centers all work at desk top height.
INSTANTLY exposes entire record to full vision. No wasted
steps or motions. Less fatigue. Greater speed and work-capacity.
Cuts costs. S-'ves space. Readily adaptable to your present and
future records. Ask for a demonstration in yonr own office.
Dtebald
Setttansl
Drawer Visible Files
DIEBOLD OFFERS A COMPLETE LINE
OF OFFICE-RECORD-EQUIPMENT
Because Diebold sells msmy typ*i of
Record-keeping equipment, the Diebold
man can give you unbiased recommenda
tions for the equipment yon need It will
pay you to call us in before buying way
new equipment.
DIEBOLD SAFE & LOCK CO.
743 Transportation Bldg., 17th & H Jits., Washington, D. C.
Telephone: National 5551
yMmmufacturtd by the Diebold Safe Cr Lock Company, Canto*, Ohio
Branches or dealers in all principal cities and towns.
r *KO«DSYSTtMjW^
MCNT. *OMIV
CHIJTV »ANK VA^T»
unit ll»'« ittvici

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Evening star. [volume], May 06, 1941, Page A-19, Image 21
About Evening star. [volume] (Washington, D.C.) 1854-1972