The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1941-02-04
Behind the
Ticker
BY LOUIS NJ. SCHNEIDER

~ ssO,AE' W. swim
NEW YORk-State and munich
pal groups are fighting possible
elimination of tax exemption on
all classes of government securi-
ties because 1t means they viii be
forced to pay higher interest
charges.
The Reconstruction Finance cor
poration estimates the boost at
from three-quarters to one and one
half per cent annually. That spells
out higher operating costs. For
New York City II would amount
annually to about Sis,500,00
Reliable Washington advices are
that congress will authorize elimi-
nation of the tax-exempt feature
on all future federal issues. It's
expected that states and munich
palities will eventually do likewise
War Fears-In making securi-
ties commitments, financial inter-
ests always anticipate corporate
earnings and prospects from one
to six months. But during times
of war, old rules fall by the way
side. That's why this weeks flood
OF favorable 1910 corporate re-
ports took second place to war
prospects.
The run of lease-lend bill propa-
ganda from Washington was most
disturbing. In fact, too much so.
That accounts for securities price
averages finishing well under
those OF last week.
Television--The federal commu-
nications commission recently OBJ
tanned another first hand demon
stration OF television. The COM
mission was so impressed that it
called for a new hearing on March
20. II isn't unlikely that televi-
sion broadcasting services will be
allowed to sell fun time TO COM
mercial buyers this autumn.
Wage Boost-The United Elec-
trical, Radio and Machine Workers
of America (CIO) petitioned Cen
eral Electric and Westinghouse
Electric fer 10-cent per hour
wage increase. The union repre-
sents 10000 employees. The pres
ent contract expires April l, 1s41.
News reports We're that the
union asked for n s20. O0O. 900 wage
increase. Sounds huge. Figured
on 40-hour week and so weeks
in the year. the total is correct.
But no union obtains all il asks.
And, says Wall Street Wit. the
figure might be more impressive
II calculated on ten-yeRr basis.
Reports Are That - Securities
buyers. anticipating higher stock
prices, like the steel issues
Safewsy stores shares held for
yield Anaconda and its vari-
Gus subsidiaries and interests OPP
Grating full time on direct and in
direct defense orders; includes
commercial sales Texas Gulf
Sulphur's export sales increasing
1910 net placed at $3.50 share
For greater trading appeal
Tennessee Corp being switched into
smaller lots White Motor.
kennecott Copper would do bet
ter marketwise If not for over
hanging British offerings q.
kroger Grocery shares held for
dividend return Twin Coach
held because OF favorable earnings
prospects National Biscuits
earnings prospects beclouded by
higher taxes and operating costs
Firestone Tire 81 annual divi-
dend rate reasonably secure; ex-
tras likely.
Skelly Oil liked by lons-pull
buyers A. NJ. Byers preferred
shares have trading following . A..
Electric Auto-Lite's direct and in
direct defense orders total about
SIC. DOC, 900 Brewster viii pro-
duce six sirplsnes daily by July l
And. that General Motors
subsidiary Allison viii be produc-
ing 1000 sirplane engines weekly
late this autumn.