The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1940-09-12
Behind the
Ticker
BY LOUIS NJ. SCHNEIDER

cials now believe that President
Roosevelt is allowing a business
breathing spell"
Confirmation, in addition to his
own statement and that of Secre-
tary Knox, is had in the testimony
of Leon Henderson before the sem
ate finance committee on the ex-
cess profits tax in which he re-
vealed that normal incomes"
would be hit hard by the tax as
passed by the house.
Henderson is an outstanding
New Deal Liberal. His statement
Is significant. And. President
Roosevelt praised retailers efforts
to bar wartime price rises. He
wrote this in a letter TO Frank M.
Mayfield, president of the National
Retail Dry Goods association.
Corporate officials doubt, how
ever, whether the new breathing
spell" will hold good after the
November elections.
Caution - Professional market
traders admit prices started up
ward last week because of Hitler's
statement that Germany was pre-
pared for a long war. and that
Washington tax news was more
encouraging. But they say the
boost in prices of copper and steel
scrap. leather and copper shows
that war buying is heavy.
The opinion of most traders is
that in a few months the impact
of the $4,000, 900. 900 national de-
Tense program viii be felt through
out the country. Retail sales do
show some betterment. But all
bullish opinion is based on the
caution. Should foreign news turn
bad, prices may turn erratic.
Observation-Disclosures reason given
for the price squirt is that selling
of British-owned American securi-
ties has eased. Such liquidation
has been going on for almost ten
months. It's a reasonable assump-
ton that the bulk of the popular
trading stocks have been unloaded.
A check with the British gov
ernment's representative discloses
that there's some truth to what
you say, but selling continues
daily" From that statement there
is the intimation that what selling
is going on is in the less popular
trading shares. Thus pressure on
the leaders has been relieved.
Active-National Gypsum COM
pany's 16 plants throughout the
country are currently operating at
the highest levels in history and
viii continue so into 1871. Melvin
H. Baker, president, says the up
turn is due to increased public
and private residential building
activity. Company booked gov
eminent order last week for s.
600, 900 feet of wallboard costing
$4,000.
Reports Are That: Food prod
ucts companies showing marked
sales expansion; September vol
ume TO set record Brokers say
investment demand for second
grade preferred shares best in over
a year Western Unions in
come better despite increased op-
Grating costs Electric Auto
Lite may pay SO share in divi-
bends this year; much depends on
ultimate excess profits tax.
Chicago Flexible Shafts promo
ton sales of last year now show
ing benefits Mail-order shares
better on increased farm purchas-
ing power Before excess prof.
its taxes, Thompson Products will
show 1910 net OF s. share
Eureka Vacuum Cleaner may
show black figures this year
Billiards order backlog best on
record; 72.7 per cent domestic or
ders.
Timken-Detroit Axle showing
benefits because Of seasonal fac
tors. and national defense pro-
gram 4. Bower Roller Bearings
non-automotive lines showing inn
provement Chain store shares
stronger on reports Of higher re-
tail sales volume And, that
the container industry's 1871 pros