davidaulloa/AmericanStories huggingface dataset:
Evening star., 1940-05-12
Demand for WooIens
Features Textile Trade
By the Associated Press.

0y VIC ASSOCl&CcO fTeSS.
NEW YORK. May ia pickup
in demand for woolen goods with
q corresponding upward adjustment
In manufacturing schedules fea-
tured textile markets this week.
Price levels were steady in other
lines and in the case Of spot rayon
fabrics worked a bit higher.
Demand for mems woolen wear
fabrics improved and dealers pre-
dicted there would be q gradual
week-to-week pickup in mill sched-
ules. A good call was reported for
fll-in quantities of tropical worsteds
for quick delivery. Additional busi-
ness was written on overcoatings.
Some expansion Of buying in whole
sale clothing was noted as large buy
ing groups assembled for seasonal
conventions. A notable pickup took
place In demand for wool hosiery
and several large orders were placed
with mills by chain stores.
An encouraging factor in the
weeks news was disclosure by SELL
ing agents that members Of the
Allied Purchasing Commission had
been sizing up" the cotton goods
market as to production schedules
and prices on specified cotton cloth
constructions for presumable ship
ment, into war zones. While no
purchases were made, the markets
undertone was aided by this price
checking. Extension Of the war zone
abroad failed to result In any new
buying.
Evening star., 1940-05-12
Accountants Nominate
Coming Years Slate

Washington Chapter, National
Association Of Cost Accountants. will
elect officers next Wednesday at a
dinner meeting at the Hamilton
Hotel. it being announced yesterday
that the following slate will be pre-
sented by the nominating committee
composed of w. l.. Slattery, Arthur
B. Gunnarson, William H. Churchill
and c. Milton Clark:
President. Robert w. King; vice
presidents, Thomas w. Howard and
James B. May; treasurer. Oscar D.
Crockett; secretary, John j. c. Mac
donough; directors, Raymond p.
Wylie, Lawrence E. Skees, Vinton E.
Lee, Joseph w. Rabbit, jr.; S. M.
Wedeberg, John Wenn, jr, and
Richard M. Nash.
Thomas w. Howard will address
the technical session on The Con-
troller and His Work" A graduate
of Worcester Polytechnic Institute,
member of the National Association
of Cost Accountants for 20 years,
winner of prizes for accounting
methods, and author of many pub
locations in the accounting field for
the United States Chamber of Com
merce, he is one Of the best known
accountants appearing on the years
program.
John l.. Mitchell. chapter presi-
dent, will preside at the meeting.
Evening star., 1940-05-12

4. william Miller. vice president
Riggs National; Robert H. Lacey,
cashier Columbia National; T. Hun
ton Leith. vice president and cashier
Security Savings and Commercial;
Richard A. Norris, vice president
Lincoln National; c. D. Ratcliffe,
vice president and treasurer Munsey
Trust Co.; Frederick P. H. Siddons,
secretary American Security IL Trust
Co.; E. Percival Wilson, secretary
National Savings g. Trust Co.
200 Plan Insurance Trip.
About 200 Washington under
writers are planning to attend the
22d Annual Life Insurance Congress,
held jointly by Washington. Balti-
more and Allegheny County Under
writer's Associations, at the Lord
Baltimore Hotel In the Monumental
City next Friday. Special rail trans
portation is being arranged. and for
the first time every life underwater
is permitted to attend. without the
requirement of being a member Of
an association.
Prominent speakers include John
B. Centrum, insurance commits
sioner of Maryland: Hubert Greaves,
professor of public speaking at
Yale, who will speak on Speech and
Personality in Selling; Henry H.
Hoffmeister of the Metropolitan
Life Insurance Co., whose subject
will be Overcoming Difficulties"
A. r. Jaqua, associate editor Of the
Diamond Life Bulletins, who will
speak on "The Next Ten Years;
William B. Wagner, general agent
Of the New England Mutual Life
Insurance Co. at Scranton, whose
subject will be Beyond All That"
rand DR.. Claude L. Benner, vice
president of the Continental Life
Insurance Co., chairman Of the
Finance Committee and chairman
Of the Life Insurance City Loan
Conference, who will discuss ''The
Possibility Of Imitation in the Light
Of War"
Lawrence c. Crawford is the as
sociate chairman for the Washing
ton division. Among other appoint
ments of Washington underwriters
on various committees are j. Alan
Maphis. speakers; Louis j. Grayson,
entertainment; Charles N. ODon-
nell, finance; John s. Nesbit, trans
portation and James A. De Force,
public relations.
Loan Group Pushes Outing.
William N. Payne, jr., president of
the District of Columbia Building
and Loan League, will preside at
Q meeting of the special outing COM
-mittee tomorrow at 1890 at the
rooms of the Advertising Club, Ra-
leigh Hotel. He said yesterday that
the successful affair conducted last
summer should be made a yearly fea :
taire and the original committee has
been retained to serve again.
Evening star., 1940-05-12
Cotton Futures Gain
And Partly Recover
Fridays Losses
FinoI Prices Are Up
9 to Ia Points on
Covering Operations
BY the Associated Press.

BY the Associated Press.
NEW YORK, May 11.-Cotton
futures swung upward today and re-
covered 9 substantial part Of Fridays
heavy losses. Final prices were up
Q to IA points.
Brokers said much Of the buying
was based on the theory yesterdays
liquidation, which chopped down
prices nearly $3.50 q bale, had left
the market in an oversold condition.
Possibility the spreading war
might cut sharply into our export
trade was still admitted among cot-
ton dealers. But at the same time
covering operations were encouraged
by the belief the technical state Of
the market had been improved by
the large domestic and foreign sell.
ing.
Foreign and Southern offerings
appeared at the start but prices
quickly rallied to outside gains Of
nearly 81 bale. Contracts became
scarcer as the list moved up.
Top marks were trimmed a bit on
selling based on a weekly forecast
Of generally favorable weather
throughout the cotton belt.
Textile prices showed a softening
tendency toward the close Of the
week, mainly because of pressure Of
secondhand offerings and Fridays
break in raw cotton.
Exports Friday. 1929 bales; sea-
son so far, 5,977 1865. Port receipts,
4,l48; port stocks, 2,623,233.
Range follows:
Evening star., 1940-05-12
German Conquest Hits
U. 5. Farm Exports
BY the Associated Press.

BY the Associated Press.
Extension Of the war to the Meth
erlands and Belgium threatens an
important market for American
farm products and an important
source of supply for the United
Kingdom, Agriculture Department
officials said yesterday.
The effect upon both depends
upon the extent of the German in
vasion. it was explained.
The European conflict already has
sharply reduced American markets
in Central Europe and Scandina-
Wan countries.
In 1889 the Netherlands bought
approximately $39, ,O00, 900 worth OF
American farm products and Bel
gium about $27 900 900 worth. To-
gether they took about 10 per cent
Of United States agricultural ex-
ports to all countries. They con.
stituted, respectively, the fourth
and sixth most important outlet for
farm products in that year.
Evening star., 1940-05-12
Grain Pits Return
To Calm and Prices
Hold Steady
Wheat Soes in EorIy
Trading, but Later
Receivers All Of Loss
BY FRANKLIN MULLIN.
Associated Press Market Writer.

CHICAGO, May 11.-Calm re-
turned to the grain pits today after
yesterdays hectic trading and prices
at times gave up some Of the sharp
gains scored in first dealings that
followed the outbreak of active war
fare in Western Europe.
Wheat sagged as much as Mia
cents in early transactions. due to
profit taking and selling based on
the more optimistic Government
forecast of crop prospects, but later
recovered all o. the loss. Some
buying on the rally was credited to
mills, while private reports of black
rust infection in Eexes,~wheAt and
Buenos Aires, gains of almost 2 cents
attfagt@ attention. o. { s{Ea
Wheat closed II lower to u high
er, compared with yesterdays An
ish; May, $l.08A; July, $1.084-%; (;
corn was unchanged to Y of; May,
68-681s; July, 6s7 SO; oats, A-ss
down; rye, 1a-A lower: soy beans
"a of to y up and lard unchanged
to 3 lower.
The Government crop report rails
ing the official estimate of winter
wheat production $4,000 900 bushels
as a result of improved conditions
in April contrasted with an increase
of only 100000 bushels In the
average of six Chicago crop experts.
The Governments forecast of a
$50 SOL .000- -bushel crop was almost
10000. 900 larger than the average
of the private estimates.
A. w. Erickson, crop expert, re-
ported black rust was found in all
fields he examined in the Fort
Worth area and he said late winter
wheat is exceptionally vulnerable,
while there is always the threat that
infection may spread northward as
the season progresses.
Grain range at principal markets
TODAY:
Evening star., 1940-05-12
NeutraIs Continue Heavy
Gold Shipments 10 U.S..
By the Associated Press,

By the Associated Press.
European neutrals, particularly
Sweden and Switzerland, continued
during April to make heavy ship
ments Of gold to this country for
safekeeping.
The Commerce Department re-
ported yesterday that the total Of
gold received during April dropped
to $249, ,851 900, however, from the
March total of $459 ,845 900 and was
less than half of the April, 1880,
sum of $500, 6,027 ,427.
Swedish gold shipments in April
were $39, ,653, ,504, while little Swift
zerland sent $32, SIT, ,1S4. Other ship
ments by neutrals included Italy,
SIC, ,10S 1888; Hungary, $5,983, $50;
Netherlands, $3,273,305, and Bel
sium, $2,S53.
Largest single shipper of gold to
this country was Canada, which
sent in $54 800 600. The United
Kingdom sent $43, SGT 900, while 9TH
er countries in the British Empire
sent these amounts: British India,
$3,139,28l; Hong Kong, $1,6e9, ,s52;
Australia, $3,373,948, and Union Of
South Africa, $28,775,449.
A total of $4.710,078 was received
from Japan and 1896, ,705 from
Mexico.
Evening star., 1940-05-12
Capital Store Sales Reach New Record
As Pay Rolls Continue Steady Climb
Bod Weather Hurts
Tourist Business
During April
BY DONALD b. HADLEY.

Washington's retail trade and pay
rolls, twin barometers Of prosperity,
are continuing their march into new
high ground.
Cash registers of six leading de-
partment stores here during the first
four months Of this year, rang up
the largest sales volume for that
period in history, the Federal Re-
serve Bank Of Richmond reported.
Sales were 81 per cent ahead Of
the same period year ago, 5.6 per
cent ahead of the 1887 period, 65.l
per cent above the 1893 period and
l7.9 per cent above the 1929 period.
April sales made q surprisingly
good showing despite adverse
weather and an early Easter, which
detracted substantially from the
months activity. April sales were
4.8 per cent ahead of the same
month last year, 8.5 per cent ahead
of the 1887 month, 48.5 per cent
above the 1888 month and 205 per
cent ahead of the 1929 month. How
ever, they failed to equal the 1898
month by the slender margin of l
per cent.
Pay Rolls Up Sharply.
From the Labor Department came
word that March pay rolls of the
Federal and District governments
here totaled $26, ,924,523, anothe new
recorl, which compared with $685.
807 $50 in the previous month and
$25,616,538 in March, 1899. The pay
rolls In the same 1898 month totaled
$23, ,984,842.
Employment in the establishments
for March totaled 156,628 persons
against l55,722 in the preceding
month, 145,937 March, 1899, and
137 ,8l4 in March, 1898.
Employment and pay rolls for the
last 13 monts follow:
Evening star., 1940-05-12
By FREDERICK GARDNER,

BY FREDERICK GARDNER,
Associated Press Financial Writer.
NEW YORK, May 1.-THE stock
market emerged from Its second
worst week of the year today with .
rally In war issues and 4 further
decline In many peacetime shares.
While speculative forces seemed to
have partially recovered from the
selling shock of Fridays session,
most were unwilling to resume bid.
ding except for steels, aircrafts and
coppers, which, 1t was believed, may
benefit quickly from heavier allied
purchasing due to intensification of
the European conflict.
With nervousness over the Ger.
man blitzkrieg on the Low Coun-
tries fading to some extent, q sc.
lective comeback appeared at the
opening. Closing gains of to 3
points were down from the tops
IN many cases, and losses of as
much were widely distributed.
Biggest Drop Since January.
The Associated Press average of
60 stocks was unchanged at 48.5
from yesterday, but, compared with
last Saturday, of 1.3 points, big
gest drop since the week OF jan
uary Is, when fall of 81 was re-
corded.
Dealings were fairly lively in the
hrst hour. There was a showdown
and a pickup toward the last. Trans
fers totaled 67l, $40 shares. against
3l6.Ss0 last Saturday and were the
largest for 4 two-hour proceed
ings since April 20.
Prominent on the upside were
U. S. Steel, Bethlehem, Douglas
Aircraft, Boeing. United Aircraft.
Lockheed, Anaconda, Kennecott.
American Smelling and Phelps
Dodge.
Posting modest advances were
Southern Pacific. Great Northern.
Standard Oil OF N. j.. Western
bnion, Chrysler and Montgomery
Ward.
On the offside were General Mo-
tors, Goodyear. Sears, Roebuck; In
ternational Harvester, American
Telephone. American Tobacco "B,"
Du Pont, Allied Chemical Eastman
Kodak. Westinghouse, Santa Fe
and Loft.
The even-steven performance of
the short day was exemplified by
the fact 257 individual issues were
up, 28l down and III unchanged.
Business news was fair, with steel
operations expected to mount next
week. freight loadings holding at a
moderately high level and depart
ment store sales maintaining their
advantage over year ago.
Fears Of Foreign Selling.
Fears Of foreign selling Of Ameri-
can securities remained as a handi.
cap. with estimated holdings of
more than $500, 900 900 of common
stocks by the Netherlands and Bel
g1um added to those of the British.
With news colorless, stocks were
on q trifle Monday. up a bit Tues
day. about unchanged Wednesday
and ahead slightly Thursday. The
list suffered its sharpest slump since
September Is, Friday when the
Hitler legions smashed at Holland,
Belgium and Luxembourg, with nu-
merous stocks crashing to more
than 5 points.
Evening star., 1940-05-12
Revived Exchange
Interest Crowds
Brokerage Offices
D. G. Brokers Predict
Rapid Price Changes
As War Develops
By EDWARD C, STONE.

New York Stock Exchange ofiices
IN Washington registered the largest
attendance yesterday Of any Sat-
urday session in several weeks. War
news earlier In the week started 4
rush of spectators and investors to
the boardrooms which saw no let
up yesterday.
The great increase In the volume
Of trading gripped attention, as Sid
the sharp contrasts in price move
ments. While war stocks" were
strong, many others moved down.
ward. The market clearly has
jumped out of the rut in which it
had been held for many weeks. The
tape drew the closest possible at
tention and there was said to be a
good deal of switching into securi-
ties which are likely to be helped
by the war.
The gossip among Washington in
vestors seemed to center quite gen.
orally on two points as they bear
OAA VIC ouGAOoh. VIII SCll11ls w 1Ol
eign security holders in American
markets offset an increased demand
for war materials that is held GER
tain to come? The uncertainties
involved make for what are known
as "day-to-day markets." in which
brokers look for many sudden
changes. For a long time ahead
the market is expected to draw a
tremendous amount of interest and
concern over price moves.
On the Washington Stock Ex-
change yesterday Washington Gas
Light IS sold at 100, within 1!2
points of the highest mark on rec
ord. Capital Transit stock opened
at 1434 and closed at 147s and Po-
tomac Electric Power 5la per cent
preferred moved at ll51a. The bid
for Peoples Drug Stores common
stood at 20, following the declara-
tion of the regular 25-cent quar-
terly dividend and a special divi-
dend of the same amount to be paid
on July /.
Dyer New Regional Director.
Members of the Southeastern Con-
ference, United States Savings and
Loan League. which met in Louis
vile last week selected William H
Evening star., 1940-05-12
D. c. Delegation Will
Attend Worlds Fair
Special Dispatch to The Star,


NEW YORK, May 11.-Ten thou
sand employees Of International
Business Machines Corp. including
their wives, are scheduled to arrive
at New York railroad terminals to-
morrow morning to visit the New
York Worlds Fair for two days as
guests Of the company. They in
clude the manufacturing forces Of
the Endicott and Rochester, N. Y,
and Washington, D. c., plants and
branch office personnel from all
parts of the United States.
All together a railroads are in
volved in bringing the visitors to
New York, but most of them will
arrive on II special trains.
Evening star., 1940-05-12
!. {. {. Approves Plan
For g., N. & n. Financinu
~ the Associ ated press

BY the Associated Press.
The Interstate Commerce Com
mission yesterday authorized the
Gulf, Mobile & Northern Railroad
to borrow $500, 900 from the Re-
construction Finance Corp. in con-
nection with the proposed CONSOLE
dation of the Mobile 81 Ohio Rail-
road with the G. M. & N.
The g., M. & N. will use the money
to acquire $7,849, 900 of the Mobile
d Ohio general mortgage bonds from
the Southern Railway for about ST.
538, 8,l66.
Evening star., 1940-05-12
APRIL.
FOUR MONTHS.
Hotel Business Gains.

Hotel business An the National
Capital during March was far ahead
Of year ago, according to Horwath
& Horwath, New York hotel ac-
countants.
oTtal business of the reporting
hotels here was IA per cent above
March, 1899, room sales were IL per
cent ahead, restaurant sales were
16 per cent higher, food sales were
up the same amount while beverage
sales were 18 per cent higher.
Room occupancy stood at 73 per
cent against SO per cent in March,
1899.
The Washington record was much
better than those of other cities or
the national average. Percentage
changes from year ago for the var
ious cities and areas in March fol-
low:
Evening star., 1940-05-12

1antic division, which comprises II
States and the District of Columbia.
The delegation from Washington,
which returned yesterday, reported
that nearly 400 building and loan
leaders were at the Louisville con-
clave, making it one of the largest
group meetings ever held. Balti-
more will be the scene of the l941
get-to-gether.
Miller Named Sports Chief.
8. William Miller, treasurer of the
Union Trust Co., has been appointed
chairman of the Sports Committee
for the coming convention Of the
Evening star., 1940-05-12
Wayne Knitting Mills
Acquires Bromley PIunt
" the Associated Press,

BY the Associated Press.
FORT WAYNE, Ind, May H.
John j. Kronenberg, president Of
the Wayne Knitting Mills, an
nounced today acquisition of the
John Bromley Knitting Mills at
Riverside, N. J.
The New jersey company Is a
knitting, scanning and looping unit.
Stockings treated there will be
shipped to the Fort Wayne mills
for dyeing and finishing.
Mr.. Kronenberg estimated pro-
duction would be increased by shout
1000 pairs Of stockings & week q Z
result Of the purchase.
Evening star., 1940-05-12
Sterling Products Net
Equals $3,270,469
By the Associated Press.

NEW YORK, May l1.-Sterling
Products, Inc, today reported March
quarter net earnings Of $3.270, ,469
after all charges, equal to $l.S7 a
common share, compared with
s2,s27884. or s1.70 a share, in the
like 1899 period. The company,
maker of pharmaceutical products,
has plants in the Midwest, South
and East.
Evening star., 1940-05-12

Dyer as a dlrec-
tor. Mr.. Dyer,
who is assistant
secretary of the
Perpetual Build
ing Association,
succeeds Carl j.
Bergman of
this city on the
board.
AS regional
board member
VI GllC kIOup Ac
will serve with
several prom
inent building
and loan leaders
In the South A..
Evening star., 1940-05-12
Boston Wool Market
SuIes Are Scattered
BY the Associated Press.

BOSTON, May II Omitted States
Department of Agriculture) The
wool market In Boston was very slow
during the last week. Only scattered
sales were closed on domestic woods
as users covered the most urgent
near future needs. Users generally
appeared to be inclined to curtail
rather than to extend buying opera
tions in raw wool and wool tops.
Prices were unchanged to slightly
easier on Western grown wools.
Fleece wool quotations were firm,
with graded combing greasy bright
wools quoted at 80 to "a cents, in the
grease, for fine delaine: "a to IS cents
for half bloods, and 80 to 81 cents for
three -eighths and quarter bloods.
Evening star., 1940-05-12
Dr.. Pepper Issued Charter

RICHMOND, Va, May II N.-A
charter was issued by the state Cor
poration Commission yesterday to:
DR.. Pepper Bottling Co. Of VIM
chester, Inc. Winchester. Maximum
capital, $4,000. j. G. Fray, president,
winchester. To do soft drink busi-
ness. T. Russell Gather, attorney,
Winchester.
Evening star., 1940-05-12
United AirIines Cuts
First-Quurter Loss
BY the Associated Press

BY the Associated Press.
CHICAGO, May 11.-United Air
Lines had q net loss Of $3.50, SIS
the first quarter Of 1910, compared
with a net loss of $419.0s5 in the
like quarter last year, President
w. A. Patterson reported.
Operating revenues for the quar-
ter were 1913 per cent greater than
for the corresponding 1899 period,
the principal gain being in pas
senger revenue. Passenger miles
flown increased 50 per cent over the
first quarter of last year.
Evening star., 1940-05-12

Cottonseed Oil.
Declines OF g to Z points In cottonseed
OIL futures today rejected weekend lidui.
trend of lard
April consumption of 257,e24 barrels
crease of 100000 in the visible supply
was an offsettins influence.
Comparative March disappearance was
o43.0s7 barrels and for April last year
the revised total was 204.a34. The end
April visible supply Of 2,053 500 barrels
compared with 2.264.c0O in March and
200 in April last week
Crude oil in the Southeast and valley
was bid at cents; Texas 5a4, nominal
NEW ORLEANS. May II tP,.-Cotton
futures recovered some Of yesterdays
losses on weekend short covering and buy
ing on reports that the German advance
was being held by the Dutch and Bel.
eians. Closing prices were steady at net
gains of q tn 1 q noipts
Evening star., 1940-05-12
Hearing Is Postponed
BY the Associated Press.

The Securities and Exchange
Commission has postponed from
May Is to May 20 q hearing on in
tegration proceedings against United
Gas Improvement Co. The COM
mission has not yet ruled on a
question raised by U. @. I. as to
whether the s. Z. G. had followed
proper procedure when 1t insti-
tuted integration PROCEEDINGS
against the company two months
aso. The question was argued before
the commission about two weeks
aso. $;'s-. .-i5;s@sss
Evening star., 1940-05-12

District Bankers
Association at
Hot S pri n g S,
President Ord
Pre- S ton an
nounced y.ester-
day. Warren r.
F RS er, vice
president of the
Hamilton Ma
tional Bank, has
been named vice
chairman. The
other members
include:
D. j. Callahan,
~
Evening star., 1940-05-12
Public Offerings Drop
To Mid-Murch Lows
6y the Associated Press,

NEW YORK, May 11.-Public Of
ferings Of new securities during the
week ended Thursday totaled SIS
TIC, 900, the smallest since the middle
Of March, Poor's Publishing Co. re-
ported today. OF this total, u per
cent represented new capital.
ComparisonS follow:
Evening star., 1940-05-12
Tot. Room .R'st"t Food Yev'g.
Sales. Sales. Sales. Sales. .SAl les.
Food Prices Hixher.

Food Prices Higher.
Retail food prices in Washington
advanced is per cent between
March u and April is, but remained
IL per cent below q year ago, &C
cording to . report from the Labor
Department.
The food price average for the
Evening star., 1940-05-12
Declines Predominote
On Chicago Exchange
BY the Associated Press.

BY the Associated Press.
CHICAGO, May 11-Declines pre-.
dominated at the close OF trading
in securities here today. Transac-
tions totaled 5000 shares and -
issues finished lower while 16 were
higher and 20 unchanged.
Evening star., 1940-05-12
| Railroad Scrop
| Steel Price
| Rises Again
BY the AsSpciAted Press.

BY the Associated Press.
PITTSBURGH, May 11.-No. !
heavy melting railroad steel scrap
has been advanced so cents q ton
to s1S.b0-$1e . ton, the second So
esnt advance In the week Ia this
grade.