davidaulloa/AmericanStories huggingface dataset:
Evening star., 1940-12-06
New Security Issues
For Week Mount
To S265,249,300
Poor's Reports TotoI
Largest in More
Than Four Years
B, the Associated Press.

BN the Associated Press.
NEW YORK, Dec. 6.-Public offer
ings OF new securities this week were
the largest for any seven-day period
since Poor's Publishing Co. began
reporting weekly totals more than
four years ago.
New offerings during the week
ended Yesterday amounted to $685.
249,30O. compared with $128,518,730
the previous week and $73, ,433, ,839 a
year ago
Both New York City and New
York State floated large issues,
boosting the municipal total to
Sll4,4l7 900, of which 80 per cent
represented new money.
Corporate financing included two
big refunding deals and much bet
ter than average volume of securities
sold to raise new capital
Comparison of the weeks offerings
follows:
Municipal.
This week Prev week, Year ago.
S114,415,0U0 S2S,316,250 S1oo96, $50
Public Utility.
So 100000 - 4sOoO 600
Railroad.
14,61o.O00 1889. 900 4,250,000
Industrial.
7O,OO0,0Oo l,75Oooo 100000
Miscellaneous.
1O0O0.000 lS.22l,4SO 2,192, 900
Total.
265249.3o0 12S,5lS,130 73.433, S39
Evening star., 1940-12-06
Note Circulation Shows
Gain at New York
BY TIE Associated Press.

BY the Associated Press.
NEW YORK, Dec. 6.-The Federal
Reserve Bank of New York yester-
day reported an increase of around
s22 ,0000 900 in Federal Reserve notes
in circulation, rejecting the usual
seasonal upturn in money use ac-
companying the Christmas shop
ping season.
Member bank deposits for re-
serve accounts declined about S72,-
1000.
The United States treasurer S
account with the bank showed a
rise of around S31,OO0000. Gold
certificates on hand and due from
the United States Treasury in
creased about S11,O0OO00
The bank lightened its portfolio
holdings of United States Govern
ment securities by around s3,000,-
900 during the week.
The condensed statement follows:
God certificates on hand
ard due from United
States Treasury ~ $3.50 sas.0O0
Total reserves 9,655 sos, 900
Bills discontinued
Secured by Uniied
States Government OBJ
heatIonS 5ll.O00
Total bills discounted l0l4 900
Industrial advances l.IS3,UUO
Total United States Gov
ernment securities 64a,5ti 900
Totsl bills and securities 1923 900
Uncollected items 1872 1874 900
Fedora! Reserve notes IN
actual circulation l.53S,242 900
Deposits.
Member bank, reserve
account 7.52S 169 900
Tota! deposits S,100,S50, 900
RATIO Of total reserves to deposit and
Federal Reserve note liabilities combined
go per cent.
Evening star., 1940-12-06
STAR, WASHINGTON c., FRIDAY DECEMBER 1eo
Construction Awards
Al Record Levels
In November
So Per Cent Increase
Over 1899 Month
Is Announced
BY the Associated Press.

BY the Associated Press.
NEW YORK, Dec. 6.-Engineerlng
construction awards for November
totaled 1882 ,724 900, the highest VOL
ume on record for that month, En-
gineering News-Record reported to-
day.
Contracts averaged s95 ,681 900 a
week, the third highest weekly aver
age ever reported Awards were So
per cent greater than year ago,
but 80 per cent below the record
breaking pace of October.
Weekly average private contracts
were IA per cent larger than Novem-
ber, 1899, but As per cent smaller
than month ago. Public awards,
stimulated by the defense program,
were 84l2 per cent greater than a
year ago, but 26 per cent below Oc-
tcber.
Comparisons follow:
November Previous
-Four weeks) Give weeks) olive weeks)
Private.
81 OIL .59O.o 900 s229477 900 Sill 632 600
State and Municipal.
S96, 73s 900 sl29.612000 Sl55,726,o00
Federal
s1s4 1876 900 s343,753 900 S34 s57. 900
$3.50. 724 900 s702 .s42 600 s3O2.215. .OOo
Evening star., 1940-12-06

estate holdings, 81; cash on hand,
30; miscellaneous, %.
Talbot pointed out that portfolios
of Federal bonds had increased to
their position of major importance
from the relatively insignificant
rank Of 18 per cent in 1890 In the
same 10 years utilities holdings ad-
vanced to their present place from
81 per cent. Rail holdings mean
while have declined from III per
cent, and mortgage loans have been
cut from 405 per cent. Policy loans
in 1882 and 1888, said Talbot, ran
as high as 1o per cent of total
assets.
In the last decade, he said, the
companies investment earnings
have dropped from SOB per cent to
3.54 per cent.
Evening star., 1940-12-06
Brisker Trade Predicted
On Boston Wool Market
Rl the Associated Press.

BOSTON. Dec 6.-The CONNER
cial Bulletin will say tomorrow:
Until yesterday there was little
activity in the Boston wool market.
There has been a disposition to
await the opening Of bids for some
10000 900 yards OF Army and c. c. C.
fabrics. Now that these are known
it is expected that business will be-
come brisker in the taking up of
options in wool to cover the con-
tracts of the successful bidders.
There is some civilian business.
but mills are not disposed to pay
much attention to agitated buyers
who have missed the bus, when
there is so much business now on
the books to keep machinery active
for several months.
western news is meager. A little
contracting of small clips is reported
in Texas at 80 cents. but most grow
ers would want cents more. Some
Midwestern holders are looking for
bids on medium wcols.
Foreign markets are unchanged
except that South America is off a
cent or two on medium to low cross
breds.
"Mohair is quiet. and barely
steady"
Evening star., 1940-12-06
Foreign Exchange

NEW YORK. Dec & GP,.-Major foreign
currencies held UNCHANGED in relation to
the dollar today.
Late rates follow Great Britain in dol
lars others in cents)
Canada.
Oneial Canadian Control Board rates for
United States dollars: Buying. 10 per cent
premium; selling IL Der cent premium,
equivalent to discounts on Canadian dol
lars in New York of, buying, 9.91 per cent;
selling. 9.09 per cent.
Canadian dollar in New York open mar
ket, 12ls per cent discount. or S1.06A
United States cents.
Europe.
Great Britain, official Bankers foreign
Exchange Committee rates.. buying, 402;
selling. 4.04: open market, cables, 4.04;
Germany. 40.07n: benevolent, 1875: Fin
land 2.05n; Greece. ssh; Hungary,
I9.S5n: Italy, 500: Portugal 401; Ru-
mania, ASH: Sweden, 1885: Switzerland,
1921: Yugoslavia, 2.35n.
Latin America.
Argentina official, 2977: free, 90. so:
Brazil. othcial. sos: free, sos; Mexico.
20.15n.
Far East.
japan. 23.4s; HONG KonE. 2377; shanE
hates In spot cables unIess otherwise
indicated. Nominal
Evening star., 1940-12-06
RECEIVERS NOTICE
OF SALE OF ASSETS
TO WhOm liz MAN concern:

Pursuant to authority of the
Comptroller of the Currency of the
United States, the undersigned
John F. Moran, as Receiver of
North Capitol Savings Bank of
Washington, D. c., will offer at
public sale to the highest bidder or
bidders for cash. at Room No. 222,
Riggs National Bank Building, on
December u, 1910, at two o'clock
(PM) the remaining assets of the
said North Capitol Savings Bank of
Washington, D. c.. consisting of
(real estate, bills receivable, judg-
ments, overdrafts, and other chooses
in action and chattels) less such
items Cor articles as may be paid
or otherwise disposed of prior to
the said date of sale herein men
toned. A descriptive list of the re-
manning assets so offered for sale
may be inspected by prospective
purchasers at the Office of the Re-
ceiver of North Capitol Savings
Bank of Washington, D. c., after
Monday, December 2, and on all
business days up to and including
the date of the said sale between
the hours of 900 AM. and 500
PM.
According to law. said remaining
assets cannot be sold otherwise than
without recourse and without war
ranty of any kind or character. and
subject to the approval of the Comp
troller Of the Currency Of the United
States and subject TO confirmation by a
court of record OF competent juriS-
diction.
tsienedi JOHN F. MORAN,
Receiver.
North Capitol Savings Bank
No 900 RIGS National Bank BLDG
14th and Park Road NV.
Washington D. c.
Evening star., 1940-12-06
). f. T.. Calls Audit
Of McKesson Books
Unsatisfactory
Accountants Accused
Of Lack Of Vigilance
In AnoIyzine Evidence
By the Associated Press.

By the Associated Press.
The Securities and Exchange
Commission said yesterday that
Price, Waterhouse & Co., New York
auditors, had failed to use a proper
degree of vigilant inquisitiveness
and analysis of the evidence avail
able" in auditing the books OF Nc
Kesson & Robbins, Inc, huge drug
company.
The commission had inquired into
the circumstances surrounding what
it called a sl9,00O.OO0 fraud" di-
rected by Philip NJ Musica, alias
Frank Donald Coster, who killed
himself while being taken into
custody.
Musica, according to the S. E. c. S
account, had conducted fictitious
foreign business il crude drugs
which amassed about s2l 100000 in
non-existent assets when it was ex-
posed in December, 1888.
The S. E. C'S investigation was
concerned with the financial state
ments filed with it by McKesson &
Robbins, OF which Musica was presi-
dent, These reports. the S. E. c.
said, were based on audits made by
Price. Waterhouse & Co.
The commission said the audit
firm had conformed substantially
in form with the procedures gen.
orally considered necessary at that
time, but that failure to discover the
gross overstatement of assets and
of earnings is attributable to the
manner in which the audit was
done"
I'VE are convinced by the record,
the S. E. c. said in lengthy report
that the review of the system OF
internal check and control at the
Bridgeport Conn Offices of Nc
kesson & Robbins was carried out
in an unsatisfactory manner
Evening star., 1940-12-06
Bills discounted
A. A. A. Plan 10 Remove
ProfitIess Trees Outlined

BY the Associated PleSS.
WINCHESTER, Va, Dec. 6.-Con-
Guiding its annual convention yes
terday, the Virginia Horticultural
Society discussed the removal OF
improbable fruit trees under Fed
eral benefit program, with S. K.
Cassell, A. A. A. State executive
officer, explaining the methods by
which growers may be reimbursed.
Mr.. Cassell addressed the session
shortly after J. A. Cox, assistant
entomologist at the Blacksburg Agri-
cultural Experiment Station, re-
ported promising results in the
search for a spray control for the
mealybug, apple orchard pest.
Satisfactory control he said, had
been obtained under certain condi-
tions with sprays containing ali
pathic thiocynateS, nicotine and
summer oil combined with rotenone.
Among the other speakers yester-
day were DR.. F.. P. Cullinan of WASH
ington. senior Federal promologist;
Or. Walter S. Hough, winchester
laboratory entonologist; R. H. Hurt
of Charlottesville; James L. Magner
of New York, and DR.. D. F. Fisher
of Washington, Federal horticul-
turist.
Evening star., 1940-12-06
Christmas Shopping
Brings Decrease in
Excess Reserves
sllo,ooo,ooo Decline
Reported by Federal
Reserve Bourd
Py the Associated Press.

y tDt hSSOCldLeu
Christmas shopping, the Federal
Reserve Board said yesterday, was
chiefly responsible for s110 900 900
drop in the quantity of idle money
in the Nations banks during the
week ended December 4.
The board said the largest factor
was sl04 100000 increase in money
in circulation, representing to
large extent Withdrawals of shop
ping money from the banks. Pay
roll necessities of the first of the
month also contributed TO the in
crease of money in circulation but
the Christmas season always brings
large reductions in bank cash.
The cut in excess reserves re-
duced them from an all-time rec
ord high of s6,93O 900 900 a week ago
to s6,820,000 900.
The board also reported that for
the ninth straight week the u Fed
eral Reserve banks reduced their
investment in Government securi-
ties liquidating s4 900 900 in bonds
and s5,O0O 900 of notes. This re-
duced their aggregate, investment in
Government securities to S2,l95,-
100000.
The boards statement said:
During the week ended December
member bank reserve balances
decreased sl38 900 000 Reductions
in member bank reserves arose from
increases. of Sl04 100000 in money
in circulation. S56000 900 in Treas
ury deposits with Federal Reserve
banks, SO 100000 in Treasury cash,
and S23000,000 in nonmember
deposits and other Federal Reserve
accounts. and a decrease Of $l0.-
100000 in Reserve bank credit,
offset in part by increases of ,s72,-
100000 in gold stock and $4,000 900
in Treasury currency. Excess re-
serves of member banks on Decem-
Der 4 we're estimated to be ap-
proximately s6,820,0 900 900, a de-
crease of s11O, 100000 for the week.
The principal change in holdings
of bills and securities was a reduc-
ton of 100000 in United States
Government securities, direct and
guaranteed: Holdings of bonds de-
creased s4,0OO000 and of notes
$4,000 000."
Changes in member bank reserve
balances and related items during
the week and the year ended De-
cember 4, 1910, were reported as
follows Gn millions of dollars,
Dec4 Nov2T. Dec s,
Evening star., 1940-12-06
Clarendon Trust Votes
Dividends, Bonus

Directors of the Clarendon Trust
Co., Arlington, Va. have declared
the regular semi-annual dividend of
three per cent and an extra dividend
of one per cent. both payable De-
cember 81.
The directors also voted to trans
fer $4,000 to surplus and declared
a Christmas bonus of per cent
of annual salaries to each regular
employe of the bank.
Evening star., 1940-12-06
Sonto Fe Equipment
Issue Is Approved

By the Associated Press.
The Interstate Commerce Commits
sion yesterday authorized the Atchi-
son, Topeka g. Santa Fe Railway to
issue $l0,000,000 of IA per cent
equipment trust certificates, series D.
The certificates are being sold at
zoos per cent of par and accrued
dividends.
Evening star., 1940-12-06
Alabama Steel
Rate to Stay
At Capacity
b. the Associated Press.

BIRMINGHAM. Ala. Dec. G.
Steel and iron production in Ala
bama will remain unchanged at 100
per cent of capacity next week. op-
Grating schedules made up today
revealed.
Domestic demand has tapered off
since November l. and shipments
now are keeping pace with new
business, but there has been little or
no lessening of backlogs for most
steel products.
Industrial sources forecast no
slackening of output during the
holiday period except for a shut
down of non-continuous operating
Christmas Day.
Evening star., 1940-12-06
Brokers' Looms Drop
S19, 600, 900 in Week
BY the Associated Press.

BY the ASSoclated PreSS.
The Federal Reserve Board re-
ported yesterday that last week S
loans to brokers and dealers on
securities held by reporting member
banks in New York City totaled
$500 900 900.
For the week ended Wednesday
the total represented a decrease Of
$19,000,000 when compared with the
previous week.
Loans for the corresponding week
a year ago totaled s507 100000.
Evening star., 1940-12-06
Virginia Tobacco

The Blackstone dark-fired tobacco mar
ket sold 59.556 pounds yesterday at an
average price of S9.31 per hundred
weight, the highest daily average of the
season. slight increase over Wednes-
days figures was reported al Lynchburg.
where SS.25 was the average for $1,000
pounds sold. Most growers appeared sat
isfed with prices at Farmville where the
sale of 402,S5S pounds for the week ended
cents above the average OF the preceding
week.
Among the bright leaf markets Dam
mon grades-at an average price of
Sill 60 The Danville mart to date this
season has sold 45.1S2 946 pounds. bring
average price of S1s.23 per hundred
weight.
Abinsdon's hurley market reported the
sale OF 443.a96 pounds at an average
price of S1971
Evening star., 1940-12-06
Metal Market

NEW YORK Dec. 6 GPl.-Copper steady;
electrolytic spot Connecticut Valley 1900;
export. fa.s. New York 10.50-11.00 Tin
5005. Lead steady: spot. New York, $50
50; East St. Louis, 5,35. Zinc steady: East
St. Louis, spot and forward 7.25. Quick
silver 167 7,0O-l69 90. Pig iron. aluminium,
antimony platinum Chinese wolfranite
and domestic scheelite Unclaimed.
Evening star., 1940-12-06
Washington Exchange
SALES.

SALES.
Potomac Electric Power 5l2fo pre-
ferred-5 at lis, 4 at lis, at lis
Washington Loan & Trust Cos at
238.
Capital Transit Cos at 1872.
Capital Traction 1st 5s-$1 900 at
1852.
Evening star., 1940-12-06
Deliveries Of Royon '
Hold Above Year Ago
B! the Associated Press

B! the Associated Press.
NEW YORK, Dec. 6.-Deliveries
of rayon yarn to domestic mills de-
clined in November to 5000, 900
pounds, compared with $4,000, 900
pounds in October, Rayon Organon,
trade publication, said today.
Deliveries were greater than No.
vember, l939 however, when they
totaled SO 100000 pounds.
The months shipments brought
total deliveries for the first IL
months of the year to 355, ,100, 900
pounds, against $50 SOC, 900 in the
corresponding period year ago,
representing a gain of per cent.
Evening star., 1940-12-06

ciation Of Securities Dealers. Inc which
states .hey do not necessarily reflect actual
transactions or firm bids or offers but
should indicate approximate prices and
unless otherwise indicated, are as quoted
by the sponsors or iSSuerS
Indicates mot quoted by sponsors or
iSsuers."
Evening star., 1940-12-06
London Bur Silver

LONDON Dec. g. lP.-Bar silver, 23d,
up s. Equivalent Al II cents.) Bar gold
16ss. unchanged. Equivalent. S33 IS ,
EXCHANGE, 81 03
Evening star., 1940-12-06

Japanese plan to coordinate all
private transportation companies
operating In Central China.
Evening star., 1940-12-06
Investing Companies

NEW YORK, Dec t.Pr-National Asso-
citation Securities Dealers, Inc.
Evening star., 1940-12-06

rPius extras. eeS extra. ss14oo extra
N 81 SO extra PSI 90 paid SEPTEMBER 80.
1910 S $500 paid In 1889. t25 cents
paid July l 1910 vS1.00 extra paid jan
uary. 1910. yS5.0O extra.
Evening star., 1940-12-06
U. 5. Treasury Notes

NEW YORK, Dec e LP.-PriceS quoted
in dollars and thirty-seconds:
Evening star., 1940-12-06
STOCKS

MISCELLANEOUS
Ter RI & w C 1st 414s 194s 1904 =
Evening star., 1940-12-06
BONDS

PUBLIC UTILITY
Evening star., 1940-12-06

Dec.4, Nov.27. Dec s,
1910. 1910. 1889,
Evening star., 1940-01-01
JANUARY.

/. Frank Sweeney, so, of no fixed
address, at 1920 pm. January 2
stepped into side of street car
from button safety zone on Seventh
street between New York avenue
and K street NV Weather clear.
Motorman, IS, 20 years experience,
acquitted by coroner's jury.
2. George Watt, II, 637 Mary
land avenue NE, at $50 am.
January 4, while driving an auto
mobile, was in collision with
street car at Fourteenth and Up
shur streets NV Weather clear.
Motorman, 25, with years expert
ence, held by coroner's jury for
Police Court action under Negligent
Homicide Act Acquitted by Police
Court jury.
g. David Gibbons, "a, 800 Park
Place NV, at 2:30 pm. January ],
while driving a truck, was in COLI
sion with another truck at Sixth
and F streets NE. Weather clear
Other driver, %, with IA years ex-
perience, held by coroner's jury for
Police Court action under Negligent
Homicide Act. Acquitted by Police
Court jury.
4. Robert Holmes, AZ. colored,
769 Kenyon street NV, at 6 pm.
January 7, struck by taxicab
while crossing Georgia avenue NV.
near Barry Place after stepping
into the street from between
parked cars in the middle of the
block Weather clear. Driver, 33,
with no permit, held by coroner's
jury fol grand jury action. Acquitted
by grand jury.
S. Thomas Santos, II, colored,
1547 Columbia street NV, at $3.50
am. January 20, fell beneath
wheels of truck after attempting to
hitch ride at o street near Sixth
street NV. Weather cloudy. Driver,
81, with 20 years experience ac-
quilted by coroner's jury.
6. George A. Coupe, 60, 1907
Benton street NV, at 6:55 am.
January 26, walked into side Of
Capital Transit Co. bus while cross
ing at Seventh and E streets NV.
against red light. Weather clear.
Driver, 35, with IA years expert
ence, acquitted by coroner's jury.
7. Miss Matte Lancaster, 80,
colored, 1856 Columbia road NV, at
7 pm. January %, struck by auto
mobile while crossing Hobart street
near Sherman avenue NV. in the
middle of the block. Weather clear.
Driver, ~, three years experience,
held by coroner's jury for grand
jury action. Case ignored by grand
jury.
8. Gordon K. Sievers, Is, 23O
Rhode Island avenue NE, at 8
pm. January Is, struck by truck
while crossing Rhode Island avenue
near Third street NE. in the mid
die of the block. Weather clear.
Driver, 81, II years experience, &C
quilted by coroner's jury.
FEBRUARY.
e 8, Millard F. Caldwell, IL. 2706
Connecticut avenue NV, about 7:30
am, February 3. struck by hit-and-
run driver while crossing Connecti-
cut avenue in the middle of the
block near Woodley road NV.
Weather foggy and dark. Case still
unsolved.
10. Marion Wilson, 36, colored, 407
First street NV, at 9:45 pm, Feb
ruary 6, while riding a bicycle,
struck by street car at New Jersey
avenue and G street NV. Weather
rainy. Motorman, 40, II years ex-
perience, acquitted by coroner's jury.
II. Mrs. Emily c. Dixon, 88, 244o
Twentieth street NV, about 9:20
pm. February 5, struck by automo-
bile while crossing at intersection
Of Biltmore and Calvert streets
INV. Weather cloudy. Driver, d.
Evening star., 1940-01-01

years experience. held by coroner's
jury for Police Court action under
Negligent Homicide Act. Acquitted
by Police Court jury.
81. Edward Colebrook Miller, IT,
1868 Columbia road NV, at 1905
am. March 16, struck by automobile
while crossing Thirteenth street at
Columbia road NV. Weather rainy
Driver, 40. with 20 years experience,
held by coroner's jury for Police
Court action under Negligent Homi-
eide Act. Acquitted in Police Court.
APRIL.
% Miss Ella Martin. IS, 1901
Thirty-ninth street NV. about 8
pm. March 26, struck by mail truck
making U-turn while crossing in
clear weather from sidewalk to load
ing platform on Pennsylvania avenue
near Eighteenth street NV. Died
April l. Driver, 33, with IS years
experience, held by coroner's jury for
Police Court action under Negligent
Homicide Act. Acquitted in Police
Court.
%. William Armstrong, 40, colored,
2520l2 F street NV, at 7:45 pm.
April l, struck by automobile while
standing about five feet from curb
on @ street at Thirtieth street NV.
Weather rainy. Driver, 80, colored,
with three years experience, held by
coroner's jury for Police Court action
under Negligent Homicide Act. Ac-
quilted in Police Court.
"a. Howard c. Reed, 63, of Tuxedo,
Md, about $50 pm. April l, while
driving an automobile, sideswiped
another automobile and ran into
rear of truck on Benning road NE.
near Twenty-fourth street. No in
quest held. Raining at time of acci-
dent. Victim had 20 years expert
ence.
Is. Miss Elizabeth P. Leonard,
II, 1755 Euclid street NV, at $3.50
pm, March "a, struck by automo-
bile while crossing in clear weather
from street car safety zone on H
street between Fourteenth and Fiji
teenth streets NV. to curb Died
April 2. Driver, %, with two years
experience, held by coroners jury
for Police Court action under Negli-
gent Homicide Act. Directed ver-
dict of not guilty in Police Court.
26. Oscar H. Schmidt, SO, 206
East Capitol street, at pm. March
Is, struck by automobile in clear
weather while crossing East Capt.
tol street near Third street in mid
die of block. Died April 2. Driver.
40, held by coroner's jury for Police