The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1940-11-26
Behind the
Ticker
By LOUIS VI. SCHNEIDER

nance corporation NlH lend on
government defense contracts -
a fixed interest rate . Il Per
cent. and other than defense loans
II pr cent. makes officials 81
Wall Streets big banks smile
Per several years Washington
has been informing the people 81
the country that = way must ht
found - break the capital log
am. Vow that national defense
manufacturing borrowings point
IN that direction. the government
cuts into the picture even though
banks are willing TO cooperate
Top-fieht bankers say big banks
can make profit on Il per cent
eovernment-contract loans. but
cant see how small banks can
help the national defense program
81 such low rates The loan sd.
ministrator's statement Is accept
ed as declaring that private en-
terprise isn't desired in defense
financing
Trade Drive Gen. Robert r.
Wood. head Of Sears Roebuek. =
the driving factor behind a new
movement 10 better L. 5 trade
relationships with Latin American
countries. lie already has set up
a national organization FOR that
purpose Funds for its develop
ment are now being solicited from
private circles The movement Is
in line with washington's plans.
British Aid = Reliable London
adviees are that its getting close
to the time when Uncle Sam viii
have to come 10 the financial res
cue Of Great Britain Washington
adviees are that in order 10 do
so both the johnson and neutrality
acts must be revised
The money situation isn't such
that Great Britain is broke She
stills owns some 50 900 900 900 in
securities. real estate holdings
etc. In this country. But II takes
tens of billions TO fight success
fui war and four billions isn't SUI
ilcient
Informed New York circles hear
that Washington is all set TO act
for the beLeflt OF Great Britain
It's Just case of who will carry
the torch Indications thus far
are that 1t will be Senator Ellison
u. Smith, South Carolina Demo
crat.
A. T. 4 I. American Telephone
and Telegraph is making a study
of huge refunding and financing
operations. This has been going
on for months.
Bond dealers say that the organ
izstion viii refund its SOS. oo0. 900
in outstanding 5is per cent de-
bentures Of le43 on Nov. !. le41.
The redemption price Will be 100.
Because of the organiza ton 5
Ssoo, o0o, 900 construction budget
for 1871. there will be new financ-
ing 10 the tune of $3.50 900 900 in
bonds and $50 00o. 900 in additional
common shares.
Rails Traders and statisticians
who anticipate higher prices for
railroad securities are favorably
impressed by the surprise 81 a
common share dividend voted by
the Atchison. Topeka and Santa
Re railway directors.
Having only recently reported
a net of 10 cents share for the
first nine months. the dividend
reveals that the Santa Fe man.
age ment anticipates increased
profits through the fourth quar-
ter. All rail officials are of the
same mind.
Reports Are That: Cement COM
pany securities expected 10 reflect
national defense sales prospects
E. Sears Roebuek will continue
liberal dividend policy For
greater trading appeal Thermoid
being switched into smaller lots
Murray Corp =. Pittsburgh in.
oustrial activity benefits kauf.
mann Department Stores
British ordered $50. 600 900 ir
oombers from Lockheed Aircraft
new type high-speed bomber.
Mullins Manufacturing actively
engaged on ammunition shell cas-.
ings: common avoided because Of
over SIS in preferred aecumula'
tons American Locomotive !.
order backlog totals more thar
sl3a 600 600 49, mostly war-supply
orders Chicago traders like
Marshall Field on dips Fol
greater trading appeal Miami Cop.
per being switched into yellow
Truck 4 Coach. aud American
Nster Works into smaller lots
White Motor.
International Paper directors e
vote yesr-end $3.50 payment on
preferred dividend arrears in add.
ton 10 regular meet next month,
first nine-monthS earnings shove
expectations Borg-Wsrner OBJ
tanned s7.eis.e30 war department
contract for artillery component'
And. that barring unforeseen
high corporate taxes Sperry
Corn,s Earnings next wear Wi