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The chronicle-star. (Pascagoula, Miss.) 1920-1941, 1941-02-28

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The chronicle-star. (Pascagoula, Miss.) 1920-1941, 1941-02-28

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Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Sets Insurance
Sales Record

NEW YORK. Nov. s. Home
Life Insurance Company today an
that new all-time record
in the 82-year history of the COM
pany for paid-for business in any
one month from single Home
Life agency had been established
in October by the Arthur ID. Suth-
erland Agency in Detroit.
New paid-for business in October
from Detroit totaled S1,202, 999
Agency officials stated that the
record just broken had stood for II
years, set in March, 1880 by 9
Philadelphia agency. The record
was particularly spectacular, ii
was said, because the paid-for
total came from new life and en-
dowment policies only. excluding
any credit for terms or annuity
business.
Sutherland is one of the compa-
ny's younger general agents hav-
ing taken over the management OF
the Detroit agency in 1885 after
two years in the life insurance
business with the Home as field
and supervisor.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
MOP Fight
Rail Directors Opposing
Reorganization Plan

CHICAGO, Nov. s.-Preparing
to oppose the Missouri Pacific
Railroad reorganization plan on
which balloting begins November
10, Missouri Pacific directors have
named Marion B. Pierce general
counsel; elected four new members
to the board; endorsed Chairman
J. S. Pyestt's letters last Tuesday
to 10000 bondholders urging them
to reject the plan on the ballot and
directed the company's officers TO
take all steps necessary TO defeat
the reorganization plan.
Despite the railroad wage in
crease recommended by the Presi-
dents fact-finding board. it was
estimated that the Missouri Pa
cific system would earn this year,
before federal stock, income and
excess profits taxes. over S29, 000.-
900, the fourth highest level In
the company's history.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Ask Lower Price
on Grains

WASHINGTON. Nov. S.-The
commodity exchange administra-
ton has called on all commodity
exchanges to reduce daily price
fiuctuation limits on grain and cot
ton futures transactions to about
half their present limits "as a pro-
tective measure against price dis
turbances from wartime develop
ments."
A Scents per bushel limit was
asked on all grains except soy
beans and flaxseed, as against the
present 10-cent limit on wheat,
rye. barley and flaxseed; 8 cents
on corn and soybeans, and 6 cents
on oats.
Cotton futures markets were
asked TO reduce the daily fiuctua-
ton limit from 2 10 l cent per
pound. The request was sent 10
the Chicago. Milwaukee. Duluth,
Kansas City, Los Angeles, Mime
apolis, New Orleans, New York
Portland, st. Louis, San Francisco
and Seattle exchanges.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Extra Pay
Trust Co. Employees Receive
Cost Of Living Bonus

NEW YORK, Nov. S.-Eugene
w. Stetson, president of Guaranty
Trust Company of New York, an
nounced that in view of increased
cost of living it has been decided
that for the time being supple
mentary payments will be made
TO all employees. including officers,
receiving salary of $4,000 or
less per annum on the following
basis.
At the end of each month dur
ing the period covered by this ar
rangement, each eligible employe
will be credited with an amount
equivalent to (A) 6 per cent on the
first $3.50 salary paid him during
the month, plus OBJ a per cent OH
the next 500 of salary paid him
during the same period. The
amount thus credited will be paid
at the end of the quarter, Dec. ID,
1941.
The arrangement is effective as
of Oct. /, 1871.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
B|a(kout Plant
To Be Discussed

Methods OF heating, vntilating
and air conditioning the black
out" defense plants that are GO
ing up across the United States
will be discussed by Detroit engi-
neers, who are playing important
roles in this phase of the rearma-
ment program, before the monthly
meeting of the American Society
|of Heating and Ventilating Engi-
|neers Monday night at the L'Ai-
'glon Restaurant in the Fisher
Building.
The speakers. each of whom is
closely identified with the defense
program. will be w. G. Randall
of the Detroit Steel Products COM
pany. Herbert f.. Ziel of Albert
Kahn Associated Architects and
Engineers, and A. +. Jennens Of
the Ford Motor Company.
With the great majority of the
new defense buildings being
equipped with blackout facilities,
so as to guard against possible
bombing raids, ventilating and air
conditioning the structures have
become more important than ever
before. say officers of the society.
The talks. well illustrated, will de-
scribe what is being done in these
respects in specific defense plants
in the Detroit area and other inn
portant industrial sections of the
country.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09

The swing Of oldsters back tc
jobs is proceeding at an acceler-
ated pace. In the single month OF
September, 1000 on their own in
itiative changed their status from
pensioners to gainfully employed
persons. IL they accept compensa-
ton in excess of SIS a month, they
got off the pension roles but can
return after their active employ
ment again ceases.
This human side of the economic
mobilization is a straw i'm the
wind indicative of the acute indus
trial demand for skilled workers.
Perhaps the older men returning
to work are influenced by diver
sity of motives-by a patriotic de-
sire to strengthen the defense OF
the nation. by a longing for con-
structive activity and by desire
to increase their income to keep
apace of the rising cost of living.
It's a Stabilizer
According to Mr.. Altmeyer,
this change is a token Sign of the
fact that when there are more
names on the retirement lists the
social security setup will help ia
stabilize the business cycle. In
times OF boom, men tend to 60
off the rolls, and funds accumu.
late, whereas in periods of unem-
ployment they cease competing for
jobs and 60 on the benefit rolls tc
which they have contributed funds
Mr.. Altmeyer emphasized to me
his belief that the current national
emergency underscores the need oil
a concept of social security. ir
contradistinction TO individual OF
corporate plans. BY way of illus,
tration, he said that restricted in
dustries which will have to report
unemployment growing out of pri
critics are not themselves TO blame
for the situation, which develop.
from governmental decisions owe
which they have no control. Like
wise. he pointed out that the arma
ment industries are now expandin,
rapidly at the governments re
quest and will doubtless be in tn
position OF curtailing employment
through no fault of their own
after the war.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09

Dow rose nearly point in an
irregular market for chemicals.
Pacific Coast Company first and
second preferred again hit new
highs. United States Gypsum
moved up a point Oils were firm
and some coppers and aviations
improved. Rails slipped but losses
were small. New York Central
equalled its low.
New lows for the year included
Montgomery Ward, Continental
Can, Consolidated Edison, u. G.. L.
and Domes Mines. Commonwealth
Edison equalled its low.
Most rail issues were fractionally
lower while high grade industriaTs
were slightly higher. United States
bonds were little
changed. Curb issues turned in a
colorless performance with the
of issues again dipping.
A handful OF stocks were down a
point or so.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
11-Year Peak
In Freight Car
Loddings Seen
I94I Total Expected
TO Top A Million;
Profits Also Rising

NEW YORK, Nov. Son the
basis of the Shippers Boards fore
cast for the fourth quarter and
the actual showing during the first
three quarters, the annual num-
bers of freight cars loaded in 1871
will be the largest since 1880,
according TO the Alexander Ham,
ilton Institute. They will total
AZ, 1872 900 this year as compared
with SO, 1854 900 last year, an in
crease of 100 per cent. AS COM
pared with the depression's low
of %, $50, 900 in 1882, car loadings
this year will show an increase of
49.7 per cent.
The prospect is that railroad
profits in 1941 will be the largest
since 1880 and may compare ia
vorably with the profits of that
year. The latest report shows that
profits during the first seven
months of this year amounted TO
1898 So, 900 as compared with
only S7,426, 900 in the same period
last year.
With the volume of freight traf-
fic during the last five months of
this year running ahead of last
year, profits during this period
should be higher than a year ago.
Profits during the last five months
last year amounted to Sl83, 624 900.
Without allowing for any in
crease during the last five months
this year as compared with last
year, annual profits in 1871 would
reach SALT, $4,000.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
New Market
Trailer Fire Fighting Unit
Currently Developed

CLEVELAND, Nov. s.-A new
market, believed to have vast po-
for both the emergency
and postwar periods. is being
opened to this country's manufac-
turers of fire-fghting apparatus.
The product for this new market
is the trailer pumper, a two
wheeled fully equipped pumping
unit designed for attaching to
regular passenger automobiles or
tow cars. An out-growth of Brit
aims wartime experience in fire
fighting methods, trailer bumpers
are currently being developed in
this country in connection with
the civilian defense program.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09

A strike by the transfers union
had closed a large warehouse here.
In it were about 1,500 oil heaters
and the selling season was swiftly
drawing to a close. To say that
the owner of the heaters was
frantic is putting II mildly.
A very astute business man APP
preached him.
81 will buy every one Of those
heaters for cash. You can't get
them out and the seasons about
over. What about ten
The owner of the heaters
thought II over for a minute and
then agreed. The buyer wrote out
a check for about $69, 900. He ther
called in a friend who was ar
officer of the union and explained
his problem.
"Sure, take 'em out" was the
reply. "Our fights with the
warehouse, not YOU"
They were taken out and every
one sold at a good profit in As
hours.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
S October
Sale 1O3,854

Sales of General Motors cars
and trucks to consumers in Oc-
tober totaled 103.S54 units, COM
pared with 52.S29 in September
and 186,016 in October "A year ago.
Sales TO dealers in the United
States last month amounted 10
162,543 units. against Sl,169 in
September and 207. 1894 in the cor
responding month last year.
October sales 10 dealers in the
United States and Canada, includ-
ing export shipments. totaled 179
120 units. compared with $4,000
in September. and 226,1 in Oc-
tober last year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Zinc Stocks Rise;
SmeIter Rate al Peak

NEW YORK, Nov S.-Stocks
of slab zinc in the United States
at the end of October totaled
21.594 tons. an increase OF 2,167
tons over the amount on Septem-
Der 30, the American Zinc Insti-
tute reports. Figures include slab
zinc produced here from foreign
ores. United States Smelter out
put last month attained a new
high since statistics in the present
form-including foreign ore proc
essed in the United States-were
compiled.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Absorbed Socially

Mr.. Altmeyer's conclusion was
that the cost of such adjustments
should be absorbed socially, that is,
by government, or in other words
by the taxpayers who support gov
'ernment, rather than by individual
industries which are either benefi-
Charles or victims, as the case may
be. of general social and political
conditions, over which they have
no control.
In the light Of current boom
conditions, Mr.. Altmeyer indicated
that he thought that Congress
made mistake in freezing social
security taxes in an amendment to
the law in 1889. contrary TO the
boards advice.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Utility Seeks 0. K.
To Re(|assiN Stock

CHICAGO, Nov. S.-Northwest
Utilities Company proposes to sell
106,797 shares of new common
stock of Lake Superior District
Power Company to underwriters
through competitive bidding. ac-
cording to an application filed
with the SEC. Primary purpose
of the application is TO get APP
prevail for Lake Superior's re-
classification Of its SIS par COM
mon stock into $25 par value.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Ohio Oil Profit
Nears 8 Millions

FINDLAY. o., Nov. S.-Ohio Oil
Company and subsidiaries report
for the nine months ended Sep
TENDER 30 a net profit of S7.S04.-
288 after provision for federal in
come taxes, etc. Net is equal,
after dividend requirements on s
per cent preferred. TO $1.02 a
common share, against S7,153,891
or IS cents a common share in the
first nine months of 1910.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
'Painless' Taxa+ion7

Officials of the Federal Reserve
already have contacted bankers
here. seeking suggestions on pain
less" methods of collecting income
taxes.
The government realizes that
the vast majority of individuals,
who in the past paid no tax at
all or comparatively small
amount, do not realize the full
impact of the new tax rates.
Some sort of a deduction at the
source fpay rolls) is felt to be
inevitable.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Long-Tern Plans

However, he added that in maxi
ing new recommendation the
board would be actuated by long
term considerations, rather than
by immediate expediencies, such
as fighting initiation. If, however,
for actuarial reasons, higher I'M
employment rates are needed to
meet the threatened postwar re-
adjustment period, that would be
relevant and not undesirable, he
added.
Mr.. Altmeyer pointed out that
he regarded the proposal of a dis
missal wage during the boom
period as a device for compulsory
saving, not as social insurance. He
made this distinction in view of the
fact that the workers would get
their deposits back whether they
were thrown out of work or not.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Hints on InHafion
Are YOU worried q

Are you worried over imitation :?
DIR. B. II. Beckhart, eminent
economist with the Chase Ma
tional Bank, says that in the past,
metals, jewelry, commodities,
farmland and common stocks have
been good hedges for individuals.
But. he warns. you have TO
know when 10 sell.
Farmlands are for farm experts
and not for city folk, he stresses.
Stocks have lost much Of their
usefulness because Of taxation.
Purchase of a home is an ex-
cellent hedge because OF both in
fiation threat and priority restric-
ton.
To corporations, he suggests
they pay off Indebtedness with
cheap dollars and shy away from
piling up new debts. Interest
rates are headed upwards.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09

elected vice president and treas
urer. II. d. Tompkins. who has
been assistant 10 Jackson. was
named vice president in charge Of
sales.
)"These changes have been
made to attain greater organiza-
ton strength In meeting today's
ususual problems Of national de-
fense and our rapidly expanding
worldwide business" Thomas
said, in announcing election of
the officers.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Car Registrations
Off Sharply in Detroit

Registrations of new cars in
Wayne County (DetroiD during
October totaled 1888 against
IL, 226 in the same month a year
ago, off 46 per cent. Total for the
first 10 months was 124 .481, gain
of 30 per cent compared with
81, 2S9 in the like 1910 period.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Market Moves
Lower in Fairly
Active Dealings
Most Changes Small.
With Montgomery Ward
and Dome at Al Lows
International News service Wire

NEW YORK, Nov. S.--The stock
market sagged further today in
moderately active trading. Most
price changes were small, but there
were a number of new lows for
the year.
Volume ran around 10000
shares against 100000 shares a
week ago.
Steel shares continued heavy.
with Bethlehem and United States
Steel lower. Chrysler sagged but
General Motors was steady.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
'Ex' Head Appoints
Special Assistant

NEW YORK, Nov. 8. - Emil
Schram. president of the New
York Stock Exchange, has an
nounced the appointment Of II.
Clay johnson as special assistant
to the president. johnson has been
with Reconstruction Finance Cor
poration since June, 1895. and has
been the counsel attached directly
to the office of the general coun-
sci for the past three years.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Short Interest Dips
On N. Y. EXCHANGE

NEW YORK, Nov. S.-Short in
terest existing as of October 81, as
compiled from information OBJ
tanned by New York Stock Ex-
change from its members and
member firms was 444,745 shares,
compared with 1892 shares on
September 80, a decrease of AZ, 1877
shares.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
ler(hen Nominated
By Exchange Group

William J. Lerchen, Waiting,
Lerchen e. Co. Detroit, has been
for governor Of the as
ISOLATION of stock exchange firms,
il was announced Saturday. The
slate of 80 nominees will be voted
upon at the first annual meeting
of the reorganized association to
be held in New York. November II.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Michigan Bumper
Profit S57,79O

Michigan Bumper Corporation
reports for the nine months ended
30, a net profit OF S57,-
100 after provision Of $3S, 527 for
federal income taxes, etc, equal
10 nine cents a share.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
O" the
Business
Front
BY WARD SCHULTZ
Financial Editor

British firms have a greater
opportunity To do q good adver-
Using Job than have American
firms"
The speaker was one of De-
troit's top bankers.
"Why should that be true ."
I asked him.
Because their taxes are
higher" he answered with a
smile.
When ] had recovered from the
shock and had assured myself that
he was not being facetious, j asked
for further details.
He explained that in Britain,
corporate taxes on excess profits
reach 100 per cent and therefore,
funds expended for advertising
actually cost the firm nothing, for
il would be taken away by taxa
ton otherwise.
Following up this theory. Brit
ish firm could keep its name in
front of the public and build up
a terrific inventory Of good will
for nothing.
Bringing the problem to the
local front, he pointed out that as
taxes are increased here, adver-
Using automatically becomes a
better and better bargain.
Lets say excess profits taxes
are so per cent for q certain
company. That company could
have spent part of that money
on advertising and received 81
worth Of ads for just 40 cents.
And II the tax climbs 10 80 per
cent. the cost Of building up
good will and creating . poten-
tial demand for your product Ia
even less. You get IL for 20 cents
on q dollar"
He expressed the opinion that
as this idea is brought home to
American business men, they will
take greater advantage of the
opportunity and stockholders will
reap the benefits in future years.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Grains Weak;
Soy Beans Fall
Over I Gents J.
Wheat Meets Support
After Early Drop;
Corn OF Fraetionally
International News Service Wire

CHICAGO, Nov. 8.-Wheat was
under pressure today and dropped
as much as 1%c before meeting
with important support which
checked the decline. Last prices,
however. were around the low. be-
ing lie to lac off. December
closed lie off at $1.15A.
Other grains also finished lower.
corn being &c off, oats &c TO &c
off and rye 1c to lac off.
Soy Beans closed 1%c to 2izc
off after moving nervously within
a fairly wide range.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09

CLEVELAND, Nov. S.-Direc-
tors of the Firestone Tire and
Rubber Company have elected
John w. Thomas, president. chair
man of the board, an office which
has been vacant since the death
of Harvey S. Firestone in 1888.
Harvey S. Firestone Jr., vice
president, was elected president Of
the company. Lee r. Jackson,
vice president in charge of sales,
was made executive vice president,
and John j. Shea, treasurer, was
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Oldsters Returning
To Business Ranks
Over 10000 Voluntarily Withdraw
Names From Social Security Rolls
BY MERRYLE STANLEY RUKEYsER
International News Service EconomLe Comme ntaiar

WASHINGTON, Nov sAs incident to the demand for
this 10000
65 of have voluntarily withdrawn their
federal
by Altmeyer chairman Security
The magnitude of the gesture
$4,000 65 who still drawing odage
addition orphans and widows under drawing
teTmS O act
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
CHICAGO CASH GRAIN

CHICAGO CASH GRAIN
CHICAGO. Nov. s.-tINst--cash grain
close:
WHEAT--None.
coRN-oid No. yellow. 7sG g7exc;
No 3 yellow. T5p7sh: No. 4 yellow,
74m75Ne. New: No. S mixed, Toe; No. q
yellow. 75ite: No. 3 yellow. 73Ise; No. 4
yellow. 6ea72hc: No. yellow. ssh y
see. No. white, size. sample grade.
57a65c
OATs-No. 1 white, Sic: No. white,
47c: No l mixed heavy, 50hc. No.
red. special heavy, 50g50hc.
SOY BEANs-No. 3 yellow, N,eI0
III. No 4 yellow 81 as.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Muskegon Motor Pays
Quarterly Dividend

Muskegon M tor Specialties
Company has declared a regular
quarterly dividend of so cents on
Class A stock, payable December
l to stock of record November 10.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Bond OFFERINGS Drop

NEW YORK. Nov. S.-New bond
offerings this week totaled 81, 1885,
600 against S61, 534 900 last week
and 81 ,3s1 900 last year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Trend Of Sales

NEW YORK, Nov, SINS Total
sales:
Stock Exchange stocks 2S0 600 shares;
bonds. So l20. 600
Curb Exchange stocks. S. 600 shares,
bonds. $500. 200
Big board sales throughout the day:
1000 TO IL 90 I4O, 600 shares
IL 100 to close $50. 600 shares
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
Detroit Poultry

Market steady. No quotations available
Saturday.
FGOS-Markst nrm; current receipts,
32st; undsrsrades, 26h Q27he.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-11-09
More About Money

Our efforts to find out the pic
t,ire on a $1,000 bill the other
night brought in a copy of the
National Counterfeit Dete C o r
which gives the following table:
Portrait Back Plate Design