The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1940-05-07
Behind the
Stock Ticker

BY LOUIS NJ SCHNkfDkh
The Dominion OF Canada win not
nationalize American securities
holdings Of Canadian investors.
This because cansda's mining and
industrial operations are doing
wen enough in building up dollar
war-credit balances. and fear that
American investors win dump
holdings Of Canadian securities.
But the Canadian order-in-coun-
ell did announce that ell nationals
having foreign credit balances
except for those who must main
tain positions because Of business
reasons-must transfer such cred
its Of funds by June ! TO the name
Of the exchange control board.
The order Is directed at dollar bal
ances in the United States.
rest-Here's what's really be-
hind the new Canadian exchange
regulation. England knows well
that at the present rate Of war
cost abe win soon exhause all her
investors foreign securities hold
.ings. And the British government
IA aware OF the fact that her
wealthy people have huge sums OF
funds ahiddcn" in neutral coun-
tries such a. Holland. Belgium.
Central and South America
Chancellor Of the Exchequer Sir
John Simon 10 most anxious to get
his hands on that hidden" money.
Hut he has no idea how the Eng
lish people would react. Result:
Canadian officials are making the
test. II the Canadian people are
passive-and It seems they win be
England win issue a like order
N the late summer or early au-
tumn months.
Foreign Trade Exporters admit
that foreign trade inquiries during
April were off sharply compared
with those Of March. The tip Ii
ascribcd to decline Of more than
80 per cent in orders from Allied
sources. A slight increase. how
ever, Ia reported from Greece. Bel
gium, Portugal. and Latin-Ameri-
can countries. This exclusive OF
war-supply European bookings.
Machine Tools Domestic and
foreign machine tool sales during
the month OF April were lower
than those Of March. which In turn
were under those Of February. But
trade insiders say the backlog of
orders IL 20 large that the industry
viii continue capacity operations
through June.
Tin Cans---In response to H.
oO0-franc prize offer by Napoleon
in 1875 for q method To preserve
food for his travelling army. =
Partisan confectioner by the name
Of Appert laid the foundation for
the canning industry. Today more
than 200 American factories pro-
duce about 10000. 900 cana day.
or about $4,000. 00o. 900 year hav-
ing a trade value Of about $780,
900. 900.
Can manufacturer buy materi-
als from other industries to the
annual tune Of $3.50. 100000. EN-
ployment n given to some 10000
employees. Payrolls amount to
about $4,000. 900. Since 1888. the
number Of employees has increased
q per cent. All this TO supply
1900. oo0. 900 cans a year for
numerous varieties Of food, and
5000. 600. 900 cans for oil, paint,
chemicals. tobacco and beer.
Reports Are That; Shell Union
oirs 1910 dividend win run a.
high A. 50 cents a share For
greater speculative appeal there's
switching from Consolidated Cop
per mines into Radio Corp common
Foster Wheeler may show
sl.75 a share for 1910 Magma
copper's first six month net placed
ct $3.50 q share.
Long Range EarninEs E~timate;
For fiscal year to end Sept. 80.
South Porto Rican sugar viii show
IS . share Statistical opinion
Is that American Ice preferred
dividend isn't secure ;. American
Machine q Foundry held for yield:
foreign offerings overhanging J.
Diamond Match preparing itself
should Sweden become involved in
war.
United Engineering q Foundry
being switched into Warren Foun-
dry 4 Pipe: latter has huge iron
ore reserves In New Jersey /.
w. r. Grants first six-month net
placed at so cents q share /.
Canadian Dry Ginger Ale's cur
rent earnings average rs per cent
ahead Of last year -. Smart buy
ing coming into Bsbcock - VIII
cox and. the charts show
month Of May usually disappoint-
ing 10 stock-market bulls.
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