The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1940-09-16
Behind the
Ticker
h LOUIS VI. SCHNEIDER

D AOAAE W. - ~ EzHOHaA
NEW YORK Experienced
traders say the following are res-
sons why securities prices should
move toward higher averages.
Larger earnings resulting from
rising industrial activity: pending
liheral ard extra vear-end dividend
distributions: taxation viii not rise
as rapidly a. earnings; a close
presidential election: market in a
strong technical position: Britain's
better than $3.50 chance Of hold
ing out through the coming severe
fighting months.
Caufious-Credit men are tight
ening up. While they don't expect
the war to end for az least an
other year. they do see some over
buying Of raw materials used for
the manufacture Of war supplies.
There always being a possibility
Of sudden end to the war. corpor-
atoms with large inventory posi-
tons would be hard hit financially
That's why credit caution " be-
ing exercised.
OH supplies--soviet Russia is
inquiring for about $4,000. 900
worth Of oil-drilling equipment and
tubing Inability to obtain ma
terials from German or British
supply firms forces the business 10
the United States. The trade also
reports that oil-equipment supply
demands from Brazil. Peru. Eoua-
dor, Trinidad and the Far East
show a marked increase.
Autos-By the close of next
week all automobile manufacturers
will be operating full time on 1s41
models. Trade estimates call for a
September output OF about 350, 900
cars and trucks. compared with
1850 units for last year.
Auto dealer stocks are low. The
used-car market Is strong. Esti-
mates are that 1941 GALES will bet
ter those Of 1910 by 80 per cent.
Coupled with armament orders. the
industry's earnings outlook sug-
gests the large 1887 figures will
be bettered.
New Ford-F'rom one close to
the Ford management, it's learned
that a Ford 6-cylinder car will be
offered to the public about Janu-
airy 1. The new model will be in
Interchangeable with the present VS.
and will bear n slightly lower
price tag 1t will replace the Ford
so VS. low-price line of cars and
trucks now out of production. All
other Ford lines are being con-
tinued.
Tin-Plans for large-scale tin
smelling in the United States are
now being completed Simon Patti
no. worlds largest tin mine opera
tor from Bolivia. Is in New York
arranging matters with the Amer
lean Metal Co., Ltd. and Phelps
Dodge corporation, which Is al
ready producing in small guam
titles.
Largest tin smelling mills are
located in England. War makes
the shift necessary. For national
defense purposes, the United States
government placed orders for some
10000 tons, of which only 5000
tons have thus far been delivered.
Expanding-United States Steel
corporations first eight-months
shipments totaled e,040,SSs net
tons against 6,46e, 404 net tons last
year like period It's the best re-
suits in three years.
Reports are that: Navy paid
Booth Fisheries $3.50, 900 for three
trawlers; delivery completed.
Chrysler shares favored by traders.
4. Republic Aviation to enlarge
plants to five times present ca
pacity; orders mostly army.
Motor Products current quarter
may show deficit due to lower
shipment volume and high oper-
ating costs. =. Radio Corp. shares
have larger trading following than
Hollander & Son.
International Paper management
to reduce preferred dividend ar
rearages at December meeting.
Beneficial industrial loan may be
hit by payment moratorium" on
those drafted for military service;
goes for all loan organizations. .
Investment managers like Wick
Chemical for yield; same goes for
Bristol & Myers. For greater
trading appeal, .Ferro Enamel
being switched into Yellow Truck;
and there's switching from Home
stake Mining into General Motors.
Bethlehem Steel directors to vote
handsome year-end dividend. Z.
OF Beach Aircrafts Se.334. 56e or
der backlog. $3.50 100 is army
business. =. Boeing Airplane bene-
fits from government military
orders, but traders say United Air
craft has better long-pull pros