davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
BUSINESS
Nj. s. RukPyser
Nj. -. RukPUSer
Equity Investment
by Life Firms Urged

talk initiation lends special interest to the
New York by the joint legislative committee into
amending of eligible permit
Insurance companies make limited purchases of
stocks
This stock idea had been espoused last Winter In
connection with the temporary national economic committee by
OF securities
Frank former chairman of the
commission Life insurance companies permitted make
restricted purchases of selected common shares in Illinois and in
Canada and Great Britain.
proposal lift restrictions life
New York other commemorative
debated in the gay twenties, when
popular shares medium for longterm
light industry
proposal turned down them although selected preferred
shares added to the list of eligible investment
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Economy for War

OPM'S William S. Knudsen
foresees that by and by 65 per
cent of the nations economy
will have to be devoted to war.
That sages widespread
havoc to private enterprise and
employment, the bankruptcy of
myriads of small concerns. Since
most corporations which have
been called upon to shoulder the
heaviest government contracts
are finding them poorly profit
able, the outlook for investors
is not exhilarating. 1t fore
shadows a nightmare for all
taxpayers - most particularly,
according 10 the way the winds
are blowing at Washington, to
the middle classes.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

It is desirable that every
legitimate effort be made to in
duce the beneficiaries of our
astronomical federal expendi-
lures TO invest in government
obligations. Also TO fortify
themselves against the, day
when they will cease to be fed
generously by Uncle Sam. The
greater the nestegg thus ac-
-cuInulated, the less viii be the
suffering experimentation the
artificial bubble blown by $50
000,000,000 spending OF taxpay-
erS' money bursts,
There no substitute for
common sense. Let US be real
r istic both in meeting today's
emergency and in preparing for
the coming cold, gray dawn.
Copyright, i9tl, by b. c. Forces
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

Some insurance executives have told that they regard
suggestion economically sound but add that would not be
unless the formula w uniformly adopted by all the
n which they operate.
AS OF getting around this necessity for uniform
legislation the chief executive of important insurance
writes this column:
Is IN companies
dollars namely dividends,
discretion the directors
thoughts the line ndi-
could worked whereby dividend
liabilities could be put in stocks In making that
I necessarily favorng II, but
practical that help along the line
o. ideas"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Stocks Show
+Fifn1ef Tone
In Early Trade
Oils Prominent With 4
S. O.. New Jersey, Up Va; =
en- Edges Higher


NEW YORK, Oct. 23.-The
stock market showed a firm tone
at the opening today after yester-
days reaction. {.
Oils were prominent in the
early dealings, reflecting the cas-
ing in the transportation situation
with the British return of IS
tankers. Standard of New Jersey
opened on 1900 shares at a hall
point advance. Others in the group
were firm to higher.
United Corporation started
with 10000 shares at 5-16, UNI
changed.
The steel shares were steady.
General Motors gained slightly.
American Air Lines was higher in
the aviations. North American
and Douglas Aircraft were among
the issues to open lower.
International News Service Wire.
CHICAGO. Oct. 23.-Wheat and
oats opened TIC lower to Hc higher
today, corn hc to hc up.
NEUTRALITY-SUSPICIOUS., S1.14H a
L15h; May $1.19h @1.19%; July.
S1.191.
CORN-December, 73*c; May,
79es @79%c.
OATS-December, 46x @46xcj
May, 49ia 649%c.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Cigdret Output
At New High

- NEW YORK, Oct 23,-Cigaret
production during September
reached a record high mark of
1880. ST. $50. This compares with
14,8S9.S14,7l7 cigarets in Septem-
Der last year, an increase Of
3,s70756,443.
September was the third sue
cesSive month 20 show large in
creases in cigaret production
and brought output for nine
months ended September 80 10
153.431 S56, 490 cigaretS. against
136.O52,6l6, $50 in the same period
last year. Output for the first
nine months Of 1871 exceeded that
for any full year prior TO 1887.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Idea Should Be Impar+iaIly Explored

that the idea should be thoroughly and
explored advisable unless
adjustments likewise authorized great
of high bonds and mortgages life
investments that they provide the type of
dollars committed
themselves the liability side In the liabilities
the subject to demand calls for nex
ibe of dollars connection with the cash
render values of policies
offsets to liabilities If assets are to include common stocks
well securities and providing for the of
fixed number of dollars then it make
spending changes the liability side Specifically insurance
permitted 10 of their
assets stocks then while 80 of the loan and
surrender values should be payable in fixed number of
dollars the remainder 10 cent should represent only
claim against the current qudatng value Of equity
investments
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Water Heaters Hit

Where the OPM order will hit
the hardest is in the manufac-
tufe of hot water heaters for
cars. The only solution, an ex-
pert pointed out. was to make
hot air heaters instead. Garage
and repair equipment will also
feel the pinch of copper.
Although the ceiling on Michi-
gan copper has been raised,
metal experts are doubtful if ii
will relieve the situation. The
increase, they state, will 60 for
added costs and labor rather
than to increased production.
Another move TO improve the
copper situation is the granting
by the OPM of priority assist
ance to Latin-America copper
mines which are producing large
quantities for defense purposes.
This move will help mines obtain
necessary maintenance materials
and operating supplies to speed
up production.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
MARKETS
LeSUis Haney
Doubts Voluntary
Budget Cut Near

The budget responded to the demands
of those government 1t has reported
the nation reduce its nondeense spending
by running from $1000000000 TO $200oO00oOO
The bureau is careful to state that its report not to be
nondefense exendi
lures believes nondefense expenditures
defense expenditures (Of
this in nondefense expenses would be
made.)
Furthermore easy figure that the nondefense spending
less than 100000 and that actually
might well as much So 200000000 in 1912
clearly therefore, if there to be economy we the
people going to have to fight for IT.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

We are asked to accept the
dictum that it will be better for
us all in the long run If we
sacrifice everything to war in
the hope of forcing 1t to an
early end rather than If we at
tempt to keep enterprise. en-
ployment, trade, etc, moving
along halfway normal. !.
Perhaps i am wrong. bat i
have such faith in the I'M
matched productive power of
America, such faith in the in
genuity of our industrialists and
other leading men of affairs,
such faith in our Incompatible
natural resources, that I be-
lieve we can discharge our full
duty for the preservation of
democracy and at the same time
carry on our economy on a
scale sufficient to save the ma
ton from tragic domestic dis
aster.
Not one business should be
'needlessly bankrupted. Not one
wage Garner should be need
lessly deprived of employment.
Instead, the lawmakers we have
elected to Congress should insist
upon the exercise of the broad
est business craftsmanship by
every bureau and bureaucrat in
order that defense" should be
conducted with scrupulous re-
gard for the preponderating mil
lions of individuals and families
not benefiting from government
contracts.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Thompson Raises
WAGES Of Workers

CLEVELAND, Oct. 23.-Thomp-
son Products, Inc. has granted its
$500 factory workers here wage
increases ranging from 5 to III
cents an hour. according to L. M.
Clegg. executive vice president.
Embodied in new agreement
negotiated with the Automotive
and Aircraft Workers Alliance,
an independent union. the in
fcreases will total about $4,000
ANNUALLY.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Taxes Hold Down
Profit Of L0F Glass

TOLEDO, Oct. %. - Libbey.
Owens-Ford Glass Company re.
ports for the nine months ended
September 30. a net profit OF
Sc, 996, $50 after provision oil
Sc, 2SS, 23S for federal income taxes
based on the Revenue Act Of 194l
equal to S278 a share.
This compares with a net profit
of S7,314,781 or 1921 share in
the first nine months of 1910, after
provision of SPAS, $40 for fedora
income taxes.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Auto
Graphs
Auto Makers Seek
Ways TO Cut Down
Use Of Copper
BY sILER FREEMAN

While motor car manufacture
ers breathed easier to see how
lightly they escaped OPM's cop
per ban, they are keeping a
weather eye on the situation and
bending every effort to cut
down the use Of copper wherever
possible.
The trouble they encounter.
however, is that the one place
where most of the copper is
used on an automobile is the
spot where it cannot well be
eliminated or even curtailed, as
r. II. McCarroll of the Ford
Motor Car Company pointed
out. This is in the radiator core.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

was in [ o w n
a n d sc c m e d
none the worse
for wear despite
the defeat of
his anti-branch
banking bill.
Fred Winck-
ler's back from
California a n d
a Cooks tour Of
the coast sing
ing the praises
of the western
ers. He $ a y 5
they claim they
are too busy on
defense w or X
10 even talk
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Timken Axle, Safeway
Issues 0versoId

Merrill Lynch, Pierce, Fenner e.
Beane announce that the Offering
OF 1900 shares of the per cent
preferred stock of Safeway Stores,
Inc. made yesterday. has been
oversubscribed and the books
closed. An Offering of 11,700 COM
mon shares of Timken-Detroit
Axle Company by Smith, Barney
and Company was also oversold.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

c r g q I I Wnlle
meeting n e W
problems" the
m a y or appar-
emily is making
his fight for
lower interest
rates a personal
battle.
Our mayors
no piker in this
respect, for he
selects a me-
dunn which for
years has been
q virtual bible
for the New
Y ork bankers.
And they are
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Car Loddings Show
CONGRESSIONAL Rise

NEW YORK. Oct. 23.--Railroad
freight carloadings in the week
ended October 1S increased over
the preceding week to around 915,-
900 cars. reports from % major
systems. indicate. This increase
comes at time when carloadings
usually are declining from their
peak of the year. Total in the
previous week was 903.877- cars
and year ago $4,000.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Used MainIy in Radiators

"Of tho 1892 pounds Of cop
per that goes into the average
car" said McCarroil.Z about
24.9 pounds goes into the radia-
tor. Then there Is the electrical
equipment that requires . lot
of copper.
eff we were told to make .
major change like eliminating
copper-from radiator cores, 1t
would mean an enormous amount
of new tools and dies and there
Is now 100000 man-hours of
defense work ahead of the tool
and die division In our plant"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Chanoe viii Broaden Field of investment

this time suggestion has been brought forth
sponsors primarily initiation hedge Rather it argued
the will broaden better diversity field
and possibly at the time sweeten the earnings life
insurance funds
outside of life insurance interested proposed
innovation of increasing the demand for
The New Deal security reforms however meritorous
the demand individuals
If life authorized the
field additional buying of perhaps
5000 900 600 would be naly released.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Detroit Poultry

Market bteady. Hens. 5 lbs. and up. 1sc:
under 5 lhs,, lee; leghorn hens, lbs. and
up, lac: cocks. 12914c; rock springers,
isc; rock broilers up N ~ lbs, 22c leg.
horn springers. lie: young hen turkeys, 10
lbs. and up. 24c: young tom turkeys, 10
lbs. 21c; ducks, white, lbs. and up, ioe
geese, lac.
EGGs-Market steady. Current receipts.
20 ic; undergrades, 24d 25hc.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

There's an article in the latest
issue of Barron's Weekly entitled
Defense and Detroit's Govern
ment" which rates as a pretty
authoritative document. The au'
thor is Mayor Edward j. JEFF
fries Jr.
Giving his version of how the
Auto City is strengthening its
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
State Oil Production
Hits t3-Month Hiqh

MT. PLEASANT. Oct. %
oil production of 1853
005 barrels in September set a
l3-month high and registered a
100000 barrel gain over August
Reed City. discovered in late May
this year, produced All ,697 barrels
for the highest individual pool out
put in Michigan since March. 1881
when Grand Rapids hit 530,57t
barrels.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23


warned m m
bers of h c
Michigan AsSo-
citation Of Per-
sonal Finance
Companies yes
terday.
1--WE We
c o. operated
with m an Y
great social
service and
research or
gsni cations,
state UNIVERSE
ties and con-
sumner organi-
ratio ms In
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

being asked to make sacrifices and to save.
will increase rapidly from Well then,
the government politicians make sacrifices
matter of fact the federal budget for 1912 actually
00000000 in nondefene which somewhat
larger the requested in the budget for 1941
remember that the socaled nondefense
regular really highly extraordinary Only
few spending only about OF the recent
Then the depression and all the New
Deal emergency spending and printing Deficits began to
pile regularly.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Sept. Car, Truck Sales
1900 Below 1910

Retail sales Of new passenger
cars and trucks in the United
States during September totaled
I72.674 units. including 1ll.536
passenger cars and 6l,138 COM
raercial vehicles, according 10 the
Automobile Manufacturers ASso-
citation. Retail sales in September
1910, were 15s.063 passenger cars
and 37,045 commercial vehicles.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

the boys he. has to convince.
When the final count Is made.
the state conservation department
is going to find out that Detroit
business men took away q fair
share of the hunting laurels.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

This Spending largely i've Items as follows
% Work relief. $764 100000. All nondefense WPA work
really should be cared for by
federal cooperation The
old PWA should be wound up.
ca Aids agriculture S4s3 100000 figure that larger
sum- S562 should be saved5 This does touch the
Department of Agricuures expenses RFC
Commodity Credit Corporation merely drops bonuses
subsidies needed that the lendease spending
bringing farm prosperity
l3l Aids to youth s344oooooo This includes the NYA
and CCC.
(4 General government Civil departments and agencies
S133,000OOo
60 General public works program, soSoooo q would
say 1858 0O0OO0)
pensions and benefits
and social security unemployment grants TO states
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Foreign Exchange

Proctor Gamble Go. reports for the
quarter ended September 80 subject TO
audit and year-ends adjustments and ex-
Guiding earnings Of English Canadian.
Javanese and defense companies except AZ
they have been made available In this
country In United states funds. a net profit
OF se.e74. s03 after depreciation, etc, and
provision Of q, 100. 600 and 81 SOC, 900 re-
spectively for normal and excess profits
taxes, equal, after dividend requirements
on per cent and per cent preferred
stocks. 10 si.06 a share on s,f0e.4 ais COM
mon shares This compares with q net
profit OF "a. $50 ee7 or 80 per cent q com
mon share for the quarter ended sept. 20,
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

commented on the brutal frank
ness" exhibited.
These boys aren't afraid TO
criticize any one" one explained.
"And least Of all themselves.
That makes for a good, sound
industry"
Ray Brundage. manager of the
Michigan kers' Association
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Finance Firms
Sponsor Own
Control Laws
Asks Banks Making
Small Loans Take
Similar Action

Personal finance companies
have constantly co-operated with
social agencies, but both they and
banks making small loans must
consent to an adequate program OF
state legislation or face federal
control, B. Z. Henderson. president
of IJonSehold Finance COMPANY,
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

cial dividend of 81 and a quarterly
dividend of So on common, both
payable in Canadian funds Deem
Der 5 10 stock of record November
Is. This brings total payments
this year TO $40 against SO in 1910.
Previous payment was 81 on Sep
tember s.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

about war.
Harvey Emery, liquidating trus-
tee for the old Union Guardian
Trust Company, says that they're
going to make public an annual
report from here in.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Non Defense Expenditures Hinder Defense

should doubt that W SHIFT the
defense" should drop least half
spending? been regular ordi-
nary government expenditure.
big point has become the fact that this non
dverts badly needed
labor preparation waste
at a sacrifice is called for.
nondefense expenditures in the 1912 budget
budget admits that much as
$2ooOoOooOo spending that not directly for defense
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23

problems, giving them the bene-
fit of our experience" he SAID.
.Wherever voices were raised In
favor of honest labelling Of con-
sumner credit charges and
adequate regulation of the BUSH
ness I'm the interest Of the con-
OBSERVATION-DISCLOSURES and
commended them.
almost every year for the
last IS years In some states
there have been attempts 10 i'm
prove the regulation of small
loan business. In most cases--I
thinlsI can say almost In practi-
caIly an cases--these regulatory
measures were sponsored by the
lenders themselves. All Of you
who have been In The lending
business any length OF time know
OF the intensive legislative cam
paigns the lenders have spon-
sored I'm order TO get laws which
protected the borrowers and
were fair 10 the lenders.
POINT OF PROGRESS
cit seems TO me that one of
the principal points OF progress
I'm our business In the last Is
years has been the gradual
elimination OF lenders without n
sense Of social responsibility"
Henderson further said thai
personal loan companies, persona
loan departments OF banks, sellers
of merchandise on the instalmen
plan and other vendors Of con
suner credit must agree on al
adequate program OF state legisla
ton or face continued centralize,
overall regulation from Washing
ton as permanent policy.
IF all power is concentrated
in Washington and it IL not
exercised wisely, some day we
might find the progress achieved
during these rs years wiped out
with one stroke. May this serve
NJ n warning to all competitors
In this field. IL In not too late
10 agree upon an adequate pro-
gram Of legislation. That is the
challenge Of the hour" he con
Guided.
NOBLE is HONORED
New officers of the grouv
elected at the meeting are: Presi
dent, Marion w. Noble, Battl,
Creek Loan Company; vice presi
dent, Irving II. Stroup. vice presi
dent of the Industrial Mortgag,
Company. Grand Rapids: secretary
Robert McGrail, Provident Loar
and Savings Society of Detroit
and treasurer. Elmer c. Hartwig
treasurer of Royal Finance Com
pany.
DR.. Charles Copeland Smith Of
the National Association of Manu-
facturers was speaker at the
twenty-fifth annual banquet las
night. His address was 'Industr,
and National Defense"
Norman Buekner OF the Buck
ner Finance Company and G.. II
Watts. president of Beneficial
Management Company. addressed
morning meetings. while Julian j
Bently Of Provident Loan anc
Savings addressed the final after
noon meeting which closes tht
convention.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-23
Furniture
Industry
Booming

CHICAGO, Oct. 23.-For the
first time in IS years the country's
furniture factories have more bust
ness than they can handle.
Factory shipments of home fur
nishings have been running more
than 40 per cent ahead of last
year, but manufacturers backlogs
in early October were still as
much as 70 per cent to 80 per cent
higher than at the same date in
1910.
Retail furniture store sales for
the first eight months of 1871
averaged % per cent ahead of the
same period a year ago. Business
in August on a countrywide basis
was al per cent above that month
in 1910.
Wholesale prices on regular
lines'-living room. dining room
and bedroom pieces-are about Is
per cent higher on the average
than at this time last Fall. Manu-.
facturers say the increases are en-
tirely the result of higher raw
material and labor costs. The du-
rable goods division of OPA at the
Summer furniture market In July
intimated that it would view with
disfavor increases OF more than
5 per cent over "the lowest price
quoted last April" So far as is
known, this limitation still applies.
Evening star., 1941-08-28
Commissioner Mason
Praises Maj. Brown at
Zonta Club Luncheon

Paying tribute to Maj. Ernest w.
Brown, chief Of police, Commissioner
City Mason yesterday told the
weekly luncheon meeting of the
Lonta Club that Washington's po-
being problems are largely due to
the heavy influx of national de-
tense workers in recent months.
The present "reshaping" of the
Police Department, Mr.. Mason en-
phasized at the meeting held at the
Young Women's Christian Associ-
alton. Seventeenth and K streets
NV, Is mo reflection on Maj.
Brown" The police chief has been
. personal friend of his for years,
the Commissioner added.
A general betterment of condi-
items is expected after reorganiza-
ton of the department, Mr.. Mason
aaid. He asked. however, full sup
port of all civic and professional
organizations to cope with the prob
lens raised by the city's increasing
population.
The Commissioner was introduced
By Mrs. Nan Street. a past president.
Mrs. Ethel Hess, president, presided
Evening star., 1941-08-28

UNDIES :.
81 MIDRIFF PAJAMAS, cotton print, reg.
Red and blue Sizes 12 to 90
Al JANA SHORTS, print cotton, reg. ST. Sic
Red and blue. sizes 81 IS. .
40 PRINT COTTON GOWNS, reg. 1.2s SIC
Sizes 30 to 40 in pastel shades.
50 MILKMAID OVERALL PAJAMAs, reg.
sf2s Sic
Cotton stripe. red and blue Sizes IL Is
BROADCLOTH PAJAMAS, reg. 81 .2s s7e
Red and blue. Size Il only
RAYON PRINT GOWNS, reg. sf59 TO 81 SO
Sizes "a to So
EXTRA SIZE GOWNS, reg. sI.2S---------67c