The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-06-20
BEHIND The
TICKER
NEW YoRK-corporate heads


business affairs That is now con-
f. firmed by the move of Secretary
Of Commerce Hopkins to get con-
gress to supply him with funds
to set up a coordinating agency in
his department to act as liason be-
tween business and the New Deal.
For publication Secretary Hop
kins said this department will act
as a go-between unit for business
and the department of Justice. But
beneath il all-say corporate Off
cials-it's no secret that he wants
business men 10 learn how to do
business as the New Deal would
like 1t to be done.
Here's the surprise. Business
heads tell your correspondent that
IL that's the only way they can
get a recovery movement started
and peace TO rule between business
and government. they are ready
and willing to cooperate-if the
New Deal doesn't ask too much.
Pfttston--Of late the most scin-
tillating stock market performance
given is that Of Pittston company
common shares. On May 20 the
issue was priced at rs cents
share. It's currently around 81.
Why? Because the first quarter
report disclosed a profit instead
of the usual deficit which runs
back for long period of time. In
ternsl adjustments and reorgan-
izations of properties is the reason
for current gossip of better earn
ings prospects. It's Of interest to
note that Allegheny Corporation
owns 500 900 shares of Pittston
common.
Steel Unions-Early in 1887
under the leaders OF NJ. c. Taylor.
then head Of u. S. Steel--several
steel companies signed union con-
tracts with the CLIO. That started
rift in the industry since Re-
public, Youngstown and others re-
fused to do so.
To obtain business lost during
labor difficulties, those who re-
fused to sign with the CIO started
quiet price war" in the fall of
1887. Price cutting has been evil
dent since then. But now the sit
uation is otherwise.
Informed steel circles say with
confidence u. S. Steel's labor
policy is changing That would end
the rift in the industry. In turn
II would put stop to price-cutting
In the future. II is reliably said
that moves Will soon be started to
steel unions reduce their own wage
scales.
The fact that the Clio is steadily
losing ground in the automobile
industry is the big reason why
steel producers are ready to ehal-
lenge John L. Lewis and his Go
organization. This intelligence is
already known in steel labor
circles, though union members are
uniformed.
Reports Are That: Tire replace
ment sales volume running well
ahead of last year . United Car
bon held for dividend return
Crown Cork & Seals second quar-
ter net estimated at 60 cents
share Silver King Coalition
shares being switchen into Radio
Corp.-for greater market activity
Pacific coast traders believe
Observation-Disclosures Steamship has
about seen its worst There's
some switching from Brooklyn
Union Gas into Greyhound
Long-range earnings estimate:
DAYTON Rubber will show S2.7o
SnATt IOI lVpV otksf1e's -
sonal factors, there's switching
from Holly Sugar into Canada Dry
Ginger Ale Bell Aircraft said
to be a promising speculation. Ben
dix Aviation to show 81 share
for first six months Speculative
positions in Loft given preference
over those in Certain-teed Prod
ucts
Montgomery Ward and Sears
Roebuck going into long-pull ac-
counts Interests close to U. S.
Rubber have no intention of losing
long positions in common shares
for next few months, anyway
And. that recent strength in prime
dividend paying common and pre-
ferred shares attributed to buying
of investors who refuse to accept
low yields offered by prime bonds.