davidaulloa/AmericanStories huggingface dataset:
Evening star., 1941-05-18
$63, ,000, 900 Of Canadian
Aluminium Purchased
BY the Associated Press.

By the Associated Press.
MONTREAL, May 17-Purchase
of 100000 worth of Canadian
aluminium by the Metals Reserve
co. of Washington, D. c., was an
nounced here today by President R.
E. Powell of the Aluminium Co. OF
Canada, Ltd.
The Metals Reserve Co. is a pur-
chasing agency of the United States
Government in the program of &C
cumulating large reserve stocks OF
vital war materials.
Powell said the 100000 order
would necessitate considerable ex-
pansion of his company's production
facilities, particularly in the Province
of Quebec, and probably would in
volve an investment of 10000, 900 in
new plants and equipment.
Canada has expanded her alum
mum production greatly since the
war began but current production
figures are withheld for military rea-
sons. Powell said in recent address,
however, that Canadian production
was sufficient to provide aluminium
for $4,000 airplanes annually.
Evening star., 1941-05-18
Stocks Register
Mild Comeback
AT Week End
Coppers, Rails, Oils,
SteeIs and SpecioIties
Share in Recovery
By BERNARD S. O'HARA,
Associated Press Financial Writer


NEW YORK, May 17.-The stock
market today emerged from a gen.
orally depressing week with mild
recOVerieS Sprinkled over coppers,
rails, steels, oils and specialties.
The principal fly in the comeback
ointment was the dwindling of
dealings to the lowest level in more
than eight months.
Persistence of inflationary ideas in
Wall Street. despite indications the
administration was studying an
"all-out" price ceiling" as a means
of stemming soaring living costs
was thought by brokers to have in
spired a little short covering and in
vestment buying.
At the same time, many customers
gave. the market wide berth be-
cause Of the weekend recess, grow
ing international tension, fears of
new crisis in the domestic soft coal
mining dispute and expectations the
railway brotherhoodS would come
out next week with demands for
higher pay. Wage boosts by General
Motors. Ford and other prominent
industries involving millions of dol
lars annually also aroused doubts re-
garding future dividends.
Average Up Slightly
The Associated Press average of
go stocks was up i of point at 1916
in the brief proceedings but on the
week showed a net loss of 6. Only
400 individual issues changed hands
in the two hours. less than one
third of the total listed on the stock
exchange.
Transfers of 140,540 shares were
the smallest since August "a, last,
and compared with the preceding
Saturdays lively turnover of 377,170.
Among stocks ending on the up
side were Anaconda. Kennecott,
American Smelling, Phelps Dodge,
Santa Fe, Southern Pacific, New
York Central, United States Steel,
Republic Steel. Texas Corp, Con-
tinental Oil, Allied Chemical, West
inghouse, Sears Roebuck, J. I. Case
and Sperry.
A new low since 1888 was posted
for Consolidated Edison. General
Motors was a shade off and Chrysler
unchanged.
Curb Market Dull.
In hstless curb plus signs were
attached to Creole Petroleum, Con-
solidated Gas of Baltimore, Humble
Oil, Electric Bond e. Share and
Glen Alden Coal. Volume here was
around $4,000 shares versus 47,000
a week ago.
Slipping tendencies we're displayed
on the big board" Monday as a
fairly good business news budget
was offset by cloudier foreign pic
ture. Recently strong rails skidded.
On Thursday quotations suffered the
sharpest dip since April 18 as gloomy
implications were seen in the speech
of Marshall Petain which inferred
France would "collaborate" with
Germany.
Evening star., 1941-05-18


Illinois and a graduate of the Uni
versity of Illinois where he won
high accounting honors. He will
live in Richmond.
Directors Declare Dividend.
Directors of the Real Estate
Mortgage & Guaranty Corp. have
declared a dividend of per cent
on the preferred stock, payable
June 80 to stockholders of record
June 20, President Ralph D. Quinter
stated yesterday.
Last year the company paid 21z
per cent in June and per cent in
December, making 512 per cent for
1910. The stock sold recently on
the Washington exchange at 6B.
Transit Stock Is Active.
Eighty shares of Capital Transit
stock sold at 15% on the Washing
ton Stock Exchange yesterday, of
fractionally from other recent trans
fers. Two more shares moved at 16.
Mergenthaler Linotype showed
strength, 20 shares changing hands
at 1914, up from recent sales at a
lower figure. Washington Gas pre-
ferred, which has been selling in
small lots at 1031z, registered an
other sale at that price again yes
terday.
Conference Report Planned.
The District Of Columbia Building
and Loan League will hold the April
meeting Tuesday noon at the Ra-
leigh, William N. Payne, jr., pre-
siding. Secretary F. Wilson Camp
will give full report on the Balti-
more conference.
Evening star., 1941-05-18
iIChiefsP Plan
2,0OO.Mi|eLine
ToEastCoast
$50, 900. 900 Project
Would Help Meet
Tanker Shortage
BY the Associated Press.

.
NEW YORK, May ia pipeline
nearly 1000 miles long. to carry oil
from the rich producing Texas
Louisiana area to the big consuming
centers of the Atlantic seaboard
was projected today as the oil in
dustry's answer to the problem of
moving oil formerly carried by
tankers.
Oil circles gave considerable de-
tail: Such line would cost some
thing more than S60,000,000, would
carry from 250,000 to 100000 barrels
day, be financed by group of
Eastern oil companies and would
take from six to nine months to
build.
The pipeline reports came on
the heels of appointment of
petroleum defense committee" set
up at the request of the Office of
Production Management o. P. NJ
officials were reported "vitally in
terested" in such a plan.
25 Tankers Withdrawn.
In announcing the committee, the
American Petroleum Institute ad-
mitted the supply situation had
been complicated by increasing de-
mand for oil and diversion of 25
tankers to British service.
More than IS per cent of all the
petroleum used along the seaboard
reaches it by tank ship" the insti-
tute reported.
The 25 tankers withdrawn from
coastal service supply the East with
a little more than 100000 barrels
daily. The projected pipeline would
take care not only of lost carrier
capacity. but also of capacity to be
lost when another Is are placed in
British service as planned. A paral-
lei line. boosting the cost over $780,
100000. could be built to carry
products. such as gasoline.
Alternative Suggested.
An alternative, some oil men
pointed out, it would be cheaper,
and possibly quicker. to build con-
Meeting pipelines between the Texas
Louisiana area and the Illinois pipe
line system and move oil through
such a combination network to
Great Lakes docks for movement
to the East by water.
One pipeline already has been
announced to help make up for
the tank ship shortage. Standard
Oil Co. New Jersey plans to build
a link between Portland. Me. and
Montreal, Quebec, for movement OF
oil to Canada.
Evening star., 1941-05-18
Weeks Lumber Output
Reported UNCHANGED

Lumber production during the
week ended May 10 was the same as
in the previous week; shipments
were per cent less, new business
4 per cent less, according to reports
to the National Lumber Manufac-
turers Association from regional as
sociations covering the operations of
representative hardwood and soft
wood mills.
Shipments were per cent above
production; new orders 9 per cent
above production.
Compared with the corresponding
week of 1910, production was 10 per
cent greater, shipments 7 per cent
greater, and new business 20 per
cent greater. The industry stood at
125 per cent of the average of pro-
duction In the corresponding week
of 1859 and 1876 per cent of aver
age 1869 shipments in the same
week.
Evening star., 1941-05-18
Foreign Woods Active
And Firm at Boston
BY the Associated Press.

by the Associated PreSS.
BOSTON, May II Omitted States
Department of Agriculture) For
eign woods of the fine and half blood
grades were quite active at firm
prices in Boston during the past
week.
Fine territory and 12-month
Texas woods received a moderate
demand at about steady to firm
prices.
Prices showed gradual stiffening
tendency on a moderate turnover in
combing three -eighths and quarter
blood bright fleece woods with sales
mostly at 46 cents, in the grease,
a few lots bringing up to Al cents.
The other grades of fleeces were
quiet with quotations steady but
largely nominal at 42-43 cents, in
the grease, for fine delaine and at
1875 cents, In the grease. for half
bloods.
Evening star., 1941-05-18
Supplies Of Aluminium
Housewares DWindIe
By the Associated Press.

BY the Associated Press.
NEW YORK, May 1.-THE New
York Times said today manufac-
turers' stocks of finished aluminium
housewares would last three to six
months at the present rate of distri-
button.
Distribution already is being care
fully allocated, the paper said. Man
ufacturers were reported to be max
ing every effort to supply dealers
with normal requirements but were
refusing large orders for the purpose
of building inventories.
Houseware manufacturers are get
ting only about 10 per cent of their
normal supply of aluminium, it was
said.
Manufacturers hope that this
situation will change for the better
before stocks run out, but believe
conditions are due to get worse in
stead of better" the paper said.
Evening star., 1941-05-18
Kraft Paper Firms Agree
To Avoid Price Boosts
By the Associated Press.

Leon Henderson, price admins
traitor, said yesterday that nine ma
jor producers have stated that their
policy was not to increase their pres
ent prices and standard grades of
kraft wrapping paper during the re-
mainder of this year.
Henderson said the action was
taken at his request and that it was
believed 1t would prevent develop
ment of speculative prices and ex-
cessive inventory building on wrap
ping paper"
The companies, Henderson said,
accounted for more than half of the
kraft paper production during 1910.
They are:
Advance Bag 81 Paper Co, Chi
cago; Crown Zellerbach Corp, San
Francisco; E-z Opener Bag Co.,
Tuscaloosa, Ala; Gaylord Container
Corp, st. Louis; Mosinee Paper
Company, Chiceo, New York:
Tomahawk Craft Co., Tomahawk,
Wis; Union Bag & Paper Co, New
York, and West Virginia Pulp g.
Paper Co., New York.
Evening star., 1941-05-18

He succeeds David S. Bethune
head of the Washington Office for
the past II years. who is about to
open an Office in one of the Western
States where the company has not
previously been represented. Mr..
Bethune, who is a Western man,
has been active in the District Life
Underwriters Association for years.
Mr.. Wiedemann has taken great
interest in Boy Scout, Y. M. C. A.,
Kiwanis Club and other civic or
ganizations, as well as in insurance
associations.
Riggs Promotions Announced.
Lawrence B. Pendleton, jr, assist
ant manager of the Friendship
Branch of the Riggs National Bank,
has been advanced to the position
of assistant manager of the Dupont
Circle Branch, President Robert v.
Fleming announced today.
The Friendship Branch vacancy
has been filled by promotion of
Theodore P. Cowgirl from the gen.
eral auditing department to the
pOSlllOIl Ol dSSlSldIlI UldlldSeI. MI.
Cowgirl was the winner last year of
first prize in the essay contest con-
Quoted by the District Bankers Asso-
citation.
Corcoran Thorn, jr, assistant
cashier and manager, will continue
as head of the Dupont Circle
Branch, with William L. Hoeke and
Mr.. Pendleton as assistant man
ayers. w. E. Freeman, an assistant
cashier, is manager of the Friend
ship Branch.
r. F. c. Auditor Resigns.
r. J. Lindquist, for years chief
auditor of the Reconstruction
Finance Corp, has resigned to be-
come vice president and director
Evening star., 1941-05-18
By CHARLES E. HARNER,
A4aa prssS Business Writer.

NEW YORK, May II. Defense
industrialists were reported today to
be concerned over the supply OF
MAGNESIUM, vital war material ana
chemical element which few per-
sons ever have seen outside lap-
oratory.
The Office of Production Manage.
ment in Washington has announced
an "acute shortage in the supply,
and recommended an expansion Oh
facilities for its production, althougn
at least 100000 pounds OF mag
nesium will be turned out in the
United States this year, compared
with 12,50O,O00 pounds in ls4o'
which was, in turn, more Ihaii
double the production in 1888.
oddly enough, with all this Juror,
the World War was fought without
benefit of magnesium, except In
flares, tracer bullets and incendlary
bombs. In this war things are dif-
ferent.
Those combat purposes today are
onlv secondary in the wartime use
of magnesium. Now its main use
is in the manufacture of airplane
engine parts and other portions OF
fighting planes. Combined with
other metals - mainly aluminium,
zinc and maganese-it makes an
ALLOW two-thirds the weight OF but
with a tensile strength equal to
aluminium. -.
Although magnesium, OF itself,
has no strength, it gains that requi-
site when combined with aluminium
and does as much in turn Tor
aluminium. Hence its great value
to the aviation industry.
Magnesium has been known virtu-
ally since the beginning of chemical
science, but was not fabricated as
a metal in the United States until
1916, two years after the World War
began. It's real commercial pro-
Evening star., 1941-05-18
Wheat Is Depressed
Almost a Cent. as
Traders Unload
Retreat Eliminates
About HuIf Of Weeks
Extreme Coins
BY FRANKLIN MULLIN,

CHICAGO, May IT. - Wheat
traders who bought earlier in the
week on the stimulus OF higher
crop loan legislation turned sellers
today as the market sagged almost
a cent a bushel.
Prices retreated to levels more
than 2 cents below the 12-months
peaks established early Thursday,
eliminating about half of the weeks
maximum gain.
Uncertainty about the actual le41
loan rate, despite passage of legisla-
ton calling for IS per cent of parity
loans, prompted profit taking. In
creased marketings in some local
tiles, favorable crop reports and con-
cern as to availability of storage
space for the new crop were addi-
tional unsettling factors.
Rally Short-Lived.
Wheat closed ss-s4 lower than
yesterday, May 99l4, July 977s34;
corn unchanged to is down, May
7l-71h. July 7234-7s; oats 3s-1a
off: soybeans AL cent higher; rye
unchanged to "a lower and lard 3-5
higher.
Wheat rallied around midseason
due to buying credited to milling
interests but this was short-lived.
Outside mills took 10000 bushels Of
cash grain.
Traders were not certain that
wheat loans would be raised from
around 81 cents to $114 bushel
on a Chicago basis in view of pos
sibility that benefit payments may
be involved in fixing the figure, and
many wanted to await actual an
nouncement before making further
commitments. Brokers said that
until the action of the President
on this legislation and results of
the May 81 producer referendum
on marketing quotas are known the
market is likely to be unsettled.
Reports that were not confirmed
indicated domestic mills may grind
large quantities of Government
grain now being transferred from
Southwest storage positions to per-
NIT easier storage Grinding of
Canadian grain held in bond for
shipment abroad also was reported
under way.
May Corn Is Sold.
Selling of May corn prompted
partly by delivery of almost 100000
bushels on these contracts caused
the price to fall as much as IA
cent at times, unsettling the entire
market. Later, however, deferred
contracts rallied to around the
previous close. After the close
notice was posted that 215,O00
bushels will be delivered Monday.
Grain range at principal mar
kets today:
Evening star., 1941-05-18
Morgan & Co. Requests
1rusteeship Ruling

By the Associated Press.
j. P. Morgan and Company, Inc,
asked the securities commission yes
terday to rule that there was no
conflicting interest, as defined by
the trust indenture act, which would
prevent it from acting as trustee for
an issue for which Morgan Stanley
and Company, Inc, might be an un-
derwriter.
This move was taken under a re-
Gently adopted rule of the S. E. C.
which permits trust companies to
seek advance rulings as to such pos
Sible conflicting interests.
The company did not name a spe-
cific issue in its application. A hear
ing was set for May % in New York.
Evening star., 1941-05-18
Expansion Speeded to Relieve
Acute Magnesium Shortage

duction did not get under way until
1921, when total of $4,000 pounds
of magnesium was turned out.
The main source of supply is the
cheapest thing, other than air, in
the world: Salt water.
From 1915 until now virtually all
American magnesium came from the
salt water wells at Midland, Mich,
where Dow Chemical Co. operates
four plants with an annual capacity
of 100000 pounds.
The company last January opened
a new plant at Freeport, Tex, which
is expected to take 100000 pounds
of magnesium from the Gulf of
Mexico this year. BY December,
the firm expects to be producing
at a rate equal to 50,000,000 pounds
q year.
Evening star., 1941-05-18
New York State Electric
Plans Big Bond Issue
BY the Associated Press.

BY tne Associated FreSS.
The New York State Electric &
Gas Corp. filed with the Securities
Commission yesterday an applica-
ton concerning the proposed issu-
ance and sale of $35, 1893 900 of first
mortgage bonds due in 1871 and
10000 shares of cumulative pre-
fered stock, 500 par value. The
proceeds are to be used principally
for refunding.
The company said that it would
invite bids for both the bonds and
the stock.
The company also'filed an applica-
ton concerning the issuance of S2,-
100000 of 334 per cent first mort
gage bonds due in 1864 to be ex-
changed for an equal amount of
4 per cent first mortgage bonds
due 1865 which are pledged with
the Rural Electrification Admin.
istration as security for the pay
ment of five serial notes.
Evening star., 1941-05-18
District Business Burometers

conditions the
Capital further marked last according
10 a yesterday
clearings Washington April totaled $l47 against
s115 1890 highest month record
Chesapeake Potomac Telephone had 288 8sl9 phones
alme April while calls day reached
month
the Capital reached
equal to last Decembers figure
amounted c $794 564, q
huge April total
sales 7742287 kowat hours against
of 1915 cent
Comparisons these barometers, by months period OF
years. follow.
Evening star., 1941-05-18
U. S. Apple Purchases
To Be Discontinued
Special Dispatch to The Star.

MARTINSBURG, w. Va, May H..
Apple growers and distributors in
this producing belt were advised yes
terday by the Surplus Commodities
Corp. from It's Winchester Office that
it will discontinue the buying Of
apples in this area on May "a.
No local apples have been sold
through the S. M. A. for two weeks,
County Agent w. N. McClung said,
but the s. M. A. is making a last
cali for any growers who might still
desire to have the Government pur-
chase their fruit,
Evening star., 1941-05-18

ager of tn e
w a S h in G t o n
agency of the
Equitable Life
Assurance So
ty of the
United States,
covering the Dis
trict of Colum-
bia and several
coun ties in
Maryland a n d
Virginia. it was
announced yes
terday by Will
liam J. Graham,
vice president of
the cOmDany.
Evening star., 1941-05-18
Cotton Prices Mixed
As Traders Await
Loan Program
New York Futures Up
z to 5 Points After
Profit-Toking
BY the Associated Press,


NEW YORK. May 17.-Cotton
futures were irregular today as buy
ers and sellers awaited clarif1cation
Of administration ideas on farm loan
legislation. The market closed 2
to 5 points higher after weekend
profit taking and southern hedge
selling had wiped out advances of
as much as so cents bale.
Worth street textiles held firm and
unchanged at peak levels. Sales
during the past week we're estimated
between 25,OO0,QOO and 100000
yards. Finished goods for nearby
delivery were at premium.
Exports Friday, 465; season 60 far
926,689. Port receipts, 1909. Port
stocks 1926 028.
RANGE F0llouS.
Evening star., 1941-05-18
Wheat Stocks Show
Goin in Maryland
srecial Dispatch to The Star.

COLLEGE PARK, Md, May IT,
The University of Maryland Exten-
sion Service reported today that
stocks of wheat in interior mills,
elevators and warehouses in the
State totaled $4,000 bashels April l..
This was 10000 bushels more than
April 1, 1910; $1,000 bushels above
the 193l-39 average, and highest
since 1882.
There were 605,000 bushels on
farms, bringing the 955,000- -bushel
tctal for the entire State to the
highest point since April /, 1888.
Evening star., 1941-05-18
825 Tons of Lead Sold

NEW YORK, May II (P.-St.
Joseph Lead Co. reported 275 tons
of Southeast Missouri pig lead sold
yesterday at $50 per 100 pounds
East st. Louis, 325 tons at $3.50,
New York, and 225 tens at the
New York average.
Evening star., 1941-05-18

OF the Reynolds
Metals Co. of
Richmond, Va.
Formerly gen.
eral auditor Of
the Ch / C a g o
Joint S toe k
Land Bank, he
came to the R.
F. G. in 1882 to
his present posi-
ton. He has
also been chief
auditor of seven
r. F. c. sub
sidiaries.
Mr. I,induuiSt
Evening star., 1941-05-18
COttonseed Oil.

COttonseed Oil.
Cottonseed oil futures moved up
ward today after early hesitancy.
Final prices were unchanged to 8
points higher on sales of 158 con-
tracts.
Trade buying in nearby positions
accompanied replacement support
encouraged by steadiness in other
markets. Early local sellers upon
reversing their positions found Of
ferings light and held to a scale-up
basis. July closed 1857 bid: Sep
tember, 1854: october, 1062-65, and
December, 1866.
Crude oil was unchanged on the
basis of 934 to 10 cents nominal in
all districts.
Evening star., 1941-05-18
Jump Reported
In Insurance
Sales Here
April Life Policies
7 Per Cent Ahead
Of 1940 Month
By EDWARD C. STONE,


New life insurance written in the
District of Columbia in April scored
q per cent gain over April a
year ago and in the first four
months of this year climbed IL per
cent above the like 1910 period, it
was reported from Hartford, Conn,
yesterday. Washington's hustling
agents wrote $6,012,000 new policies
in April, bringing the total so far
in 1941 to S22,68l 900.
Virginia made the most impress
sive showing in this territory, April
sales reaching $9,727,000, a gain Of
IL per cent, and totaling S33, 1874 900
in the four months, an upturn of
8 per cent. New April business in
Maryland totaled S8,707 900, a 4
per cent pickup over last year, while
in the longer period sales amounted
to S33,345,000, an advance of 6 per
cent over the same four months in
1910.
The April record in Washington
was l per cent better than the April
fve-year average but was l per
cent lower than the five-year aver
age in the four months. Sales in
the Capital so far in 1941 compare
as follows with the corresponding
months a year ago:
1941. 1910.
January ------ S4,9l4,000 S4671 900
February $780, 5,2220O0 4,624,000
March - 6,533,000 5,03l 900
April ------- 6,0l2,OO 5,76O,OOO
New Equitable Agent Named.
Rudolph F, E. Wiedemann Of Los
Angeles has been appointed man.
Evening star., 1941-05-18
New York Produce

NEW YORK, May II (Pl-Dressed poul-
try irregular. Fresh and frozen prices un-
chaf.Eed.
Live poultry, By freight and express,
nominal: no sales.
Evening star., 1941-05-18

Chlcas0 Cash Market.
Cash wheat No. ! mixed; 1.01A; No,
;. 75&: No. g. 7ih-72s.; I No. ''4 I. 80; 80:
sample, 50-65. Oats, No. / mixed heavy,
80: No. white. 3s1a: No. 8, 374; No. 4.
3634; sample tough, 341z Barley, mailing,
57-6e, nominal: feed, 49-55, nominal:
screenings, 1854, nominal; No. malt
ing, 81
Evening star., 1941-05-18

COttonSeed OH FUTURES Closed STEADY.
Bleachable prime summer yellow 1O55a;
prime crude, $50; May. 1O.35b: July,
10.37b: September; 10.27b: october,
10.27b; December. 1026b.
o Asked. b Bid. Nominal.
Evening star., 1941-05-18
New Orleans Prices.

New Orleans Prices.
NEW ORLEANS, May 1T-dP-Week-end
covering and price fixing by mills supported
cotton futures here today. The market
closed steady net 3 to points higher
Evening star., 1941-05-18
Winniper Cash Market,

:. WINNIPEG, May II P.-Cash wheat,
71ss; oats, No. white, 37hs: No. 8, 34ss.
Evening star., 1941-05-18

Rudolph F. E. Wiedemann of Los
Angeles has been appointed man
Evening star., 1941-05-18
Check Transactions
WASHINGTON CLEARING HOUSE.
Telephone Service in District

Totals - s1146655717 81 2O6 OSS O2s s1,414,3328 8o4