davidaulloa/AmericanStories huggingface dataset:
Evening star., 1941-04-08
Connecticut Light
Offering Planned
At $3.50 a Share
Underwriters Prepared
To Place Shores on
Market Tomorrow
BY the Associated Prssa.

By the Associated Press.
Attorneys announced last night
that an underwriting group was
prepared, subject to Securities Com
mission approval, to sell 1858
shares of Connecticut Light &
Power Co. common stock on
Wednesday at a price to the public
of $4250 a share.
The stock will be sold to the un-
derwriters by the United Gas I'M
provement Co., which is disposine
of Its 81 per cent voting interest in
the Connecticut company in COM
pliance with the integration clause
Of the Holding Company Act at a
price of $3.50, making spread
of So
Announced at Hearing.
The announcement was made by
Thomas Reath. counsel for Drexel
81 Co., Philadelphia. the managing
underwater, and Thomas B. K
Ringe, counsel for U. G. l., at a
hearing called by the S, E. c. on
the U. G. I. application to sell the
stock. The S. E c. is expected to
give its decision today.
The question of arm ms-length bar
gaining as it related to u. G. is
choice of Drexel & Co. to direct the
sale of the stock was not raised at
the hearing, inaSmuch as a prior
agreement had been reached to i'm
pound the management fee amount
ing to $4,000 pending later de-
cision by the commission on that
question.
William w. Bodine. U. G. I. presi-
dent, testified at the hearing that
he had insisted on a price of SAB to
the public and a net of $40 to the
company. However, during the aft
ernoon the underwriting group
made Its formal offer of commit
ment to the U. G. 1. directorate at
Philadelphia calling for net of
$3.50. This offer was accepted,
Reath and Ringe told Willis E
Monty. S. E. C. trial examiner who
conducted the hearing.
Larger Loss Seen.
Bodine had testified that U. G. I.
figured on a loss of $4,000 If it got
a net of $40, so that under the terms
finally accepted U. G. I. stands TO
lose more than $362,000. The aver
age cost of the stock to U. G. I. was
s39, "a a share.
Another witness during the day
was Charles L. Campbell of Hart
ford. Conn, president of Connecti-
cut Light g. Power, who said that
one benefit his company would re-
ceive through divorcement from U.
G I. was that it would get out from
under the regulation of the Holding
Company Act, which is very onerous
and very expensive"
Il am confident that this will
more than offset the loss of our
association with the U. G. L." he
added.
Asked by John Houser, S. E. C. at
torney, whether the separation from
U. G. I. would be a substantial
loss. Campbell replied in the mega
tive.
Evening star., 1941-04-08
Washington Produce

BUTTER-93 score, tubs, 34A: 1-pound
prints. 35A; h-pound prints. 3534; 81
score tubs, 1894; 1-pound prints. 34M;
A-pound prints, 3494; 81 score, tubs. 331s;
l-pound prints. "a: A-pound prints, 34I2:
30 score, tubs, 331a: pound prints "a:
A-pound prints, 34fa; SO score. tubs, 34K:
I:pound prints, .34sl: h4-pound prints,
35+; So score. tubs. 3294; 1-pounG prints
33h; h-pound prints. 3334.
L1VESTOCK-Calves. II: spring lambs
10: PIGS l40-150 pounds. $780, 05; / 30
$50 pounds, 7.05-7 .25; 160-1s0 pounds
II0-7 30; 1S0-22O pounds. 1907 so;
220-240 pounds. 7.00-7.25; tops 100:
sows' 5.50-6.OO: calves, 1L00-12. 90.
From Agricultural Marketing Service
Prices paid net fob. Washington:
EGGs-Market steady. Prices paid for
Federal-State graded eggs received from
grading stations tApril 81: Whites, U. S
extras, large, 1928: U. S. extras, mediums,
1923; y. S. standards. large. 22-24; U. S.
standards. mediums. 1921; U. S. trades
17-2l: Browns: U. S. extras. large. "a
-; U. S. extras, mediums. 2O-22 U. S.
standards, large, @2-23; U. s.. standards,
mediums, 1921; U. s. trades, 17-2l. For
nearby ungraded eggs; Current receipts,
whites, 1870; mixed colors 1919.
LIVE POULTRY-Msrket STEADY. Fowl:
Colored. all sizes, 1920: No. 2s. 1918;
Leshorn hens, all sizes 1914 BOOSTERS,
TstTs o12 s Ghessns azss yrsna Sn Or9er' ard
ware Rocks and crosses Broilers and
fryers al sizes, 1920; No. 2s. IA. Tur-
keys: Young hens. all sizes. %: No. 2s,
4 Young toms, all sizes, is: No. Is,
1914
Evening star., 1941-04-08
Competitive Bidding
Rule May Force
Big Changes
Morgan Stanley Move
Into RetuiI End Of
Field Is Possibility
THOUSANDS a.
PERSONS
By the Associated Press.

BY tht Associated Press.
NEW YORK, April "a new
order by the Federal Securities and
Exchange Commission requiring
competitive bidding for public utility
issues of more than 100000 may
bring important changes In the
distribution of utility securities, in
vestment banking circles said today.
Certain large underwriting houses,
including Morgan, Stanley & Co.,
Inc, now specializing in the whole
sailing of securities, may enter the
retailing end through their own dis
tribution organizations instead Of
| through smaller investment dealers,
it was explained.
Realignment of connections be-
tween utility systems and banking
houses likewise may result over the
long run, bankers suggested How
ever, the immediate results were OBJ
scure as banking firms waited con-
crete tests of the rule when big
utility f1otations come up for dis
cussion.
Effective May :.
The rule, effective May 7, was
announced just as financial quarters
were looking ahead to extensive
utility offerings growing out of
liquidation and rearrangement of
operating properties under the hold
ing company integration program.
Morgan, Stanley & Co, organized
by partners formerly with j. p.
Morgan IL Co., withheld comment
while waiting further study OF the
commission's ruling.
Otis 6S Co of Cleveland. one of the
few firms which openly advocated
competitive bidding. issued a state
ment saying the decision restores
to the field of public utility finance
the traditional competition of the
American business system"
The firm expressed the belief the
S. E. c. ruling foreshadowed similar
competitive bidding requirements by
the Interstate Commerce Commits
sion, the Federal Power Commission,
the Federal Communications Com
mission and State Utility Commits
sions for corpora tons under their
jurisdictions.
Extension Advocated.
THE public interest" said Otis &
Co., will be well served by the ex-
tension Of competitive bidding to Sc.
curities issues OF these other cor.
porations which enjoy monopolies
and are subject to public regula-
ton"
Houses opposed to the practice
contended the investment bankers
relation to securities issuers was OF
confidential, professional nature,
best served by removing new issues
from the auction block.
They argued in hearings before
the commission that the investment
public, too, in the long range would
lose from pricing Of new issues
and probable entry of underwriters
into retail distribution, which might
concentrate the selling in few hands.
Evening star., 1941-04-08
Pure Oil Advances
Crude 10 S1.22 in
Illinois Area
Texas Co., Sohio Corp.
Also Have Raised
Quotations
By the Associated Press.


OLNEY, ILL.,, April 8.-The Pure
Oil Co.'S oil purchasing division,
principal buyer of crude oil in this
area, announced yesterday that its
purchase price of crude had been
increased to $122 per barrel, re-
troactive to 7 am. April l.
Last week the company boosted
its purchase price to yS120 per
barrel, an increase of cents, ef-
fective April /, but the second an
nouncement indicated that a T.
cent increase has been instituted
instead.
The Texas company also is paying
s1.22 per barrel for crude and the
Soho corporation has announced a
2-cent increase to $1.22 per barrel
effective Thursday.
TULSA, April (P).-Daily crude
oil production in the United States
declined 1856 barrels to 3,51O,825
for the week ended April 5, the
OIL and Gas Journal said today.
California declined 5000 to sol, =
$50; Texas, 239 900 to 1902 200; East
Texas, l47400 to 297,6O0; Illinois,
6,940 to 32l,00O; Kansas, 1900 to
209 $50; Louisiana, 180 to 305 300;
Michigan, 300 to 37,100, and the
Rocky Mountain area, 2,610 to
98010.
Eastern field increased 1000 to
118,l0O and Oklahoma, 3,625 to
3l2,875.
Evening star., 1941-04-08
Washington Exchange e

SALES.
Capital Transit Cos at II, Is at
IT, Is at II.
Capital Traction lst 5s-S3,000 at
1851.
Washington Gas Light pfd.-50 at
l04, 10 at 104, 10 at 104.
Evening star., 1941-04-08
Pennsy Reports
Big 1910 Gain
In Earnings
~ the Associated Press.


PHILADELPHIA, April Stock
holders of the Pennsylvania Railroad
were told at their annual meeting
today that improved business be-
cause of war conditions" resulted in
an increase of 46,662,630, or 106
per cent, in operating revenues in
the pastNyear.
The statement was contained in
the annual report of the president
and Board of Directors, read by F
j. Fell, jr., vice president and con-
troller.
The report said that dividends
totaling Sl.50 per share, or s19,75l,'.
63l, were paid in 194t, compared
with 81 per share, or s13,l67,754, the
year before.
Evening star., 1941-04-08
Shortages Of Labor
And Materials Curb
Tool Production
Makers Fall Further
Behind in Filling
New Orders
- the Associated Press.

y the Associated Press.
NEW YORK, April S.-Shortages
of skilled labor and delays in OBJ
tanning raw materials are prevent
ing manufacturers of tools vital to
defense work from using their full
productive capacity. a survey by
Mill Supplies said today.
The trade publication said tool
makers fell further behind in filling
new orders during March, although
A per cent worked at capacity.
Roughly, 78 per cent of manufac-
turers reported delays in deliveries
to distributors. This compared with
70 per cent in February and only
43 per cent in January. About SO
per cent expected deliveries to be-
come still slower against 10 per
cent In February.
Orders piled up in plants making
equipment ranging from hacksaw
blades to light machine tools. About
a. per cent said they were unable
to increase production further,
against 35 per cent in February and
"A per cent in January.
Three Factors Cited.
The toolmakers cited three factors
rs preventing further production
increases:
Cd Delays in obtaining raw mate
rials (the most serious; t2) short
ages of skilled labor: 81 manufac-
ture of special items.
Around "a per cent expected price
increases because of rising costs
for skilled labor and, in some in
stances. of raw materials. Most
frequently mentioned increase was
per cent. A general price rise, it
was said. might be challenged by
the price stabilization division of
the Defense Commission.
Distributors OF supplies used in
filling defense orders said a swing
had started from the tooling-up
phase of national industrial effort
into actual production.
Stocks of "perishable" items, those
used up in making armament and
other products, were being expanded
TO meet new demand.
Stocks Cut Sharply.
In some territories, the magazine
noted, defense plants still were in
the tooling-up stage. In those areas
machinery and capital equipment
required to outfit the plants were in
greatest demand. Hence manufac-
turers' shipments to distributors
were slow and distributors stocks
contracted sharply.
Estimates by industrialists indi-
Gated that from so to 10 per cent
of all manufacturers orders were
through distributors.
o. P. NJ. now has two advisers CO.
ordinating the activities of distrib-
utors.
In many industries the distributor,
through long experience with the
needs of the area in which he Is
located, can supply tools in few
hours when a direct order to the
manufacturer might result in de-
lay of days.
Evening star., 1941-04-08
Boston Wool Market

BOSTON. April s (Pl Omitted States De-
psrtment Of Asriculturel.-Med grades
of bright fleece woods were receiving a very
consisted mostly Of country-packed lots OF
early shorn Ohio and similar fleece woods
at around As cents, in the grease, delivered
and quarter blood grades Offerings were
small because of the slow progress in
shearing. An, occasional sale was being
closed on early shorn bulk fine territory
wools available for immediate shipment al
81 to 81 02. secured basis, delivered for
average TO good French combing lengths
Evening star., 1941-04-08
Earnings Gain Seen
For National Banks
BY the Associated Press.

BY the Associated Press.
Preston Delano. controller of the
Treasury. said that the country's
$3.50 national banks had 1854, 749.- =
900 gross earnings last year. The
figure was s16,330,000 more than
was earned by the 5,l93 national
banks in existence in 1899.
Expenses were slightly higher
last year Dividends to stockhold-
ers totaled S145 ,273 900 last year,
compared with s139, ,487 900 in 1899.
Evening star., 1941-04-08
| |Socony-Vocuum
To Raise Prices
OF Gasoline
By the Associated Press,

NEW YORK, April s.-Socony-
Vacuum Oil Co., Inc, announced
yesterday it will advance posted
prices of its standard grade gasoline
one-half cent q gallon in tank cars
Wednesday throughout New Eng
land and New York State, with the
exception of metropolitan New York
City and the western end of the
State.
Dealer tank wagon and CONNER
cial consumer prices also will be
increased q like amount in the same
area.
Evening star., 1941-04-08
Dry Goods Market

NEW YORK April P).-Trading In
gray goods improved today. Print cloth
OF goods moving from second hands at
price concessions Of " cent q yard.
Turnover in spun rayon yarns continued
limited only by the yardaee available.
Print weaves we're active and stronger and
pigment tahetas values tended upward.
Woolen prices held hrm In lirht volume.
Evening star., 1941-04-08
Also extra or extras

Also extra or eXtrtB.
ePaid last year.
Quotations furnished BY National Asso-
| citation of Securities Dealers, Inc. which
states they do not necessarily reflect actual
| transportation or frm bids or offers. but
Evening star., 1941-04-08
Egg Output. Boosted

Egg production in Maryland in
creased from 28,750,000 dozens In
1899 to 2e242,00 dozens in 1910,
according to DR.. Morley A. JUL,
head of the University of Maryland
poultry department.
Evening star., 1941-04-08
Metal Market

NEW YORK, April 8 P.--Copper
steady Electrolytic spot connesticut Hs. Val a.
iS.o0. Tin. easy; spot and nearby, 81 .7b;
forward, -61.121s Lead: steady; spot, New
steady; East st. Louis, SPOT and forward,
7.25 Quicksilver, 1s3.00-1 1S5 90. Pig
iron, aluminium. antimony. platinum, Chi
unchaneed.
Evening star., 1941-04-08

eiation of Securities Dealers. Inc. which
states they do not necessarily reject actual
transactions or firm bids or ohers, but
should indicate approximate prices and
unless otherwise indicated. are as quoted
by the sponsors or issuers.
Indicates Not quoted by sponsors or
issuers."
Evening star., 1941-04-08
London Bar Silver

LONDON, April 8 iP,.-Bar silver 23hd,
unchanged. Equivalent 42.62 cents) Bar
sold. 1885, unclaimed. Equivalent
S33s5) Exchange, S4-03.
Evening star., 1941-04-08

tPIus extras. a 25c paid so far this year.
| 2s. 1910 hSb 90 extra. zoe extra.
| m 81 so extra. 81 90 paid September
| 30, 1910. 90 paid in 1910. $4,000
! extra.
Evening star., 1941-04-08
London Tin Prices

- LONDON April 6 (9.-Tin quiet; spot,
t2os Jos bid, 1859 asked; future, f265 los
Evening star., 1941-04-08

MISCELLANEOUS
Ter RI Il W CD 1st AVS 1e4e 100
Evening star., 1941-04-08
Insurance Stocks

NEW YORK. Aprii 3 P1.-National As
socistion Securities Dealers, Inc.
Evening star., 1941-04-08
New York Bor Silver

NEW YcfK. Aoril R.-Bsr silver,
34A, unchanged.
Evening star., 1941-04-08
Investing Companies

NEW YORK, April 3 LP.-National As
sociation Securities Dealers, Inc:
Evening star., 1941-04-08
BONDS

PUBLIC UTILITY
Evening star., 1941-04-08
STOCKS

PUBLIC UTILITY.
Evening star., 1941-04-08

PlymouLn FunO Inc
Putnam tG) Fund
Quarterly Income {
'Schoellkopf-Hu d
Selected Am Sh In
Selected Income Sh
Sovereign Invest
Spencer Trask Fun,
stand Util Inc
'state Street Inves
Super of Am Tr Al
"Trustee stand In'
sTrusteed Stand In
Trusted Am Blk 3
Trusted Industry
NTTal1,~N EstfNE
Evening star., 1941-02-16
Brownies and Cards
Lafe Beginning, but
Quickly Line Up
By the Associated Press.

By the Associated Press.
ST. LOUIS, Feb. 15.-The busi-
ness of signing players is going on
more swiftly at the Offices of the ST.
Louis major league baseball clubs,
both of which sent out contracts
late.
The Cardinals announced today
that Walker Cooper. rookie catcher
who may be an important cog in the
l94l pennant drive, had come to
terms. He batted .302 with Colum-
bus last season.
The rockies brother. Morton
Cooper. f1reball pitcher who won IL
games and lost II last year with the
Cardinals. is operating under held
over contract.
The Cardinals also announced
that Bill Delaney had been ap-
pointed manager of the Pocatello
Udaho) Club of the Pioneer League.
Across the hall from the Cardi-
mails, the Browns announced the
receipt of signed contracts from
Johnny Berardino, the regular short
stop, and the rookie trying for his
job, Vernon Stephens, who played
with San Antonio.
Evening star., 1941-02-16
ScoIzo Through Jeffro Minus
Foe, Outlook for Topnotch
Bout Here Is About Nil

Petey Scalzo's knockout at the
hands of one Guy Scream I'VE never
heard of him either probably was
the last nail in the coffin of any
proposed featherweight champion
ship bouts around here this spring,
reports to the contrary notwith-
standing.
Promoter Joe Turner still holds a
contract on Harry Jeffra's services
for a match with joey Archibald
and says he will exercise his claim
to same. But Turner can't adver-
tise it as title match even though
it will be for the New York Mary
California copyright. The local
commission prohibits such talk, al
though it approves the bout.
Scalzo Given Sound Beating.
Bickering over Scalzo's contract
undoubtedly will continue. but who
wants him now? They can't eX-
plain away that loss to Scream. 1t
was no fluke. Petey hit the deck
five times and was saved by the bell
in the third. He was beaten up so
badly even Pete Reilly, his agent,
had difficulty recognizing him.
Scalzo lost respect not gradually
but at headlong gallop after that
ill-starred night at Griffith Stadium
when he left the ring with the Ma
tional Boxing Associations blessing
as successor to joey Archibald. He
didn't look good against frankie
Covelli that night even though
frankie was tending bar up to four
days before the bout when he
launched a belated training pro-
gram. More than one customer left
the stadium convinced that Jeffra
could take Scalzo ard Archibald and
rap their heads together.
Scalzo is all washed up. The first
time he puts his title on the line
somebody is going to tap him gently
on that dresden china chin and
take it away from him. And ii
won't have to be "Chalky" Wright
Some one of the increasing colony
of promoters hereaboutS probably
will try to bring in Scalzo- Wright
match. If this happens it is further
evidence that the boys are begin
ming to regard Washington as a
No. l dumping ground.
Place Fine, Boxers Lacking.
Before Mike Uline built his arena
everybody said we needed a place
large enough to stage outstanding
indoor shows to restore vitality to
the boxing business. No sooner is
the corner stone laid than they
Evening star., 1941-02-16
Chicubs Are Club to Watch, Says Bell Jurges
Yankees Have Is Hodouts Lefty Gomez Has Lost 81

last season. George SuSce. the
Cleveland Indians coach, played
with II different clubs in IL
years.
An expert observer tells us the
reason Jimmie Ripple hasn't been
able to get going until late in
the season in recent years is that
he always has reported away
overweight. Every day at Mon
treal got him in shape to be
sensation for the Reds last fall.
If Luke Appling takes any time
off this season, watch out for a
xxx infield for the White Sox.
Kuhel at first, Holloway at sec
ond, Knickerbocker at short and
Kennedy at third.
The st. Louis Cardinals will
play six of their seven night
games on Fridays, but Wednes-
day is the most popular night
with a total of 30 games booked
for lights.
The Giants offered Atlanta
over $50 900 for willard Marshall
and were turned down. Wonder
Evening star., 1941-02-16
Syracuse Gives Navy
First Ring Beating
In Close Meet
Scores Four Technical
Knockouts in Gaining
Decision, 4l2-3H
BY the Associated Press.

By the Associated Press.
ANNAPOLIS. Md, Feb. 15.-Syra-
cuse University's unconquered fisti-
cuff team scored four technical
knockouts and gained a draw in a
bang-up heavyweight class to whip
the Naval Academy's previously un-
beaten boxers. 412 to 3l2, tonight.
America Woyciesjes and Loren
Schoff, intercollegiate champions,
and Benny Sgroi and Charley Healy
1889 Eastern titleholderS, all scored
T. K. Os over their MILDLY oppo-
nents to give Syracuse its fifth
straight ring victory.
1"0-pound class-slater Navy defeated
Roland, decision.
I27-pound class-Martin Navy defeat
ed Fahey, decision
l35-pound class-Sgroi tSyracusel de-
feated OBrien. technical knockout after
l:56 OF the third round.
l45-pound class-Schof fSyracuse) de-
fested Robertson, technical knockout, $40,
first round
155-pound class-Betzel Navy defeated
PsliDoli, decision tbout stopped after sec
ond roundl.
I65-pound class-Healy Syracuse de-
feated Peterson, technical knockout. l min
ute. third round.
l75-pound class-Woyciesje tSyracusel
defeated Donaldson, technical knockout,
100. second round
Heavyweight class-Hebron Navy and
Mirabito fought TO a draw
Referee-Mr. Eddie Leonard. Baltimore
Evening star., 1941-02-16

how much Earl Mann can get
for him if Judge Lands edict
on optioning players stands.
Manager Bill Terry didn't eX-
pect to keep him in the National
League this year and would have
had to take a chance on losing
him for $4,000.
A report is out that Dolly
Stark wants to return to the Ma
tional Leagues umpiring staff.
Leo Durocher says he'll stay in
shape to play shortStop for the
Dodgers any time Peewee Reese
can't.
This is the first time in five
years that Joe Medwick has
taken part in the first spring
training workout of his club. He
was an invariable holdout with
the Cards.
Pittsburgh may not keep
Johnny Gee and Russ Bauers,
the two big pitching question
marks, on their roster this sea-
son If they don't produce.
Evening star., 1941-02-16
Louis Rose Captures
First Coin in Olive
Duckpin Stakes
Averages 1872 for 9
Games, Collects S100;
Ralph Bates Second

Louis Rose, AlmaS Temple star,
boWled seven-game score of 919, an
average of 1872, to win the annual
Charley Olive Sweepstakes last
night at the Queen Pin from a field
of 81, all with league averages of
lis or less. Rose won S100
Ralph Bates was second with
1856; Durwood Boegler, third with
1884; Elmer Meade. fourth. 1863, and
Don Matthias took the last prize
with 852.
Roses games were 140. 141, 119,
l24, l4l and ia In winning the
Glass A all-events of the WASH
ington City Duckpin Association
last year he set a tournament
record with 1894.