davidaulloa/AmericanStories huggingface dataset:
Evening star., 1942-02-15
W.P. B. Order 10 Spu|
Copper Mining in
Chile and Peru
Doubling and TRIPPING
Of Supplies for Four
Producers Approved
BY the Associated Press.

Moving to increase the flow of
copper from South American mines,
the War Production Board yester-
day authorized four mines in Chile
and Peru to double the amount of
maintenance and operating ma
terials purchased in this country
for delivery before July l.
Previously, preference orders per-
mitted the mines to obtain supplies
equivalent to the amount shipped
from the United States between
April l and September 3, l94l
Under amendments to those
orders, these supplies may be
doubled Immediately, and tripled
with respect to equipment ordered
for delivery after June 80.
Last October Is, when priority
assistance first was granted. the four
mines were producing at the rate
of $4,000 tons of copper annually.
Virtually all of their output is under
contract to the R. F. C. Metals
Reserve Co.
Truck Data Requested.
The War Production Board yes
terday ordered all manufacturers,
dealers, distributors and finance
companies handling trucks and
truck trailers to furnish all avail
able inventory information to the
Office of Price Administration.
o. P. A. already has distributed
questionnaires calling for such in
formation on passenger cars only.
The Questionnaires are printed in
such a way that data also can be
obtained on trucks and truck trail
erS.
Also, the w. P. B. altered its
definition of light trucks to provide
that light truck in the future will
be classed as a vehicle having a
maximum gross weight rating Of
less than 5000 pounds.
Mattress Costs Watched.
Price Administrator Leon Hender-
son told the bedding industry yes
terday that he would permit price
increases up to S1.30 on mattresses
if producers are forced to use sub
stitute, high-cost materials.
Henderson said the action was
taken to protect the industry against
rising cost resulting from curtailed
supplies of sisal, manila and hene-
quin, fibers which the War Produc-
ton Board has ruled important to
the war program.
Manufacturers using substitutes
may add the increased cost to the
price of their finished product, Hen
derSon held, but in no case shall
this increase exceed S1.30 on an
inner-spring mattress"
Evening star., 1942-02-15
spet ial Dispatch to The Star.

spetial Dispatch to The Star.
NEW YORK, Feb. 14-Despite
the slackening in the retail rush,
the search for spot goods in the
wholesale market was unabated in
the last week, Dun & Bradstreet
Inc, reports.
After the brisk business of Janu-
ary, retailers were in need of SUBJ
stantial fill-in stocks in number Of
lines.
'"The tightness of supplies, which
became steadily more pronounced,
was said to be making price less
important than merchandise in
buyers efforts to cover.
THE rate of outgoing shipments
sharply exceeded last years as re-
tailers took delivery on goods which
ordinarily would not be accepted
until March or April. Delivery was
said to be moving well for orders
already on books but gradually slow
ing for new business.
Spring market events continued
to make widely varying reports. In
the majority it was said that buyers
seemed to know what they wanted
and were placing orders with the
minimum of delay. Generally there
was less shopping around than
usual except where restrictions on
quantities forced buyers to try
various sources.
Evening star., 1942-02-15
Youngstown Sheet Profits
LARGEST Since 1929
BY the Associated Press


YOUNGSTOWN, Ohio, Feb. IA
The war demand for steel. along
with greater domestic needs, gave
YOUNGSTOWN Sheet g. Tube Co. in
l94l its most profitable year since
1929. with net profit of s16,124.-
40073, equal after preferred divi-
dends to $3.50 a share on l,675,0O
common shares.
The preliminary statement of the
company's consolidated income ac-
count was made public today.
The l941 earning compares with
net of sl0,815, ,4684l, equal to $3.50
a common share, in 1910: profit from
operations after maintenance and
repairs was s5O,OO6, ,01267. The COM
pany set up $9,758,9 8938 for de-
pletion Of minerals and depreciation
Of plants and equipment. against
s7,984,852 provided for that pur-
pose the previous year.
The company reduced its interest
charges by its recent refunding pro-
gram, allowing $2,622 ,62261 charge
for interest on funded debt and
other interest charges in 1941
against SO, ,446,226 in the previous
year.
The corporation provided s21 500,
600 for excess taxes, including So
127,0O0 for normal income taxes and
s13, 900 for excess profits taxes.
Evening star., 1942-02-15
| New Materials
For Apparel
| Reviewed
By the Associated Press.

By the Associated Press.
NEW YORK, Feb. 14.-Here Is .
thumbnail preview Of some develop
ments to look for in the wearing
apparel field this year or next, pre-
sented to q radio audience by Leslie
Velie, business editor of the Journal
of Commerce:
A new rayon product which will
outmatch silk and nylon for resil-
iency and sheerness.
Washable suits for men made Of
blended wool and rayon.
A new type Of knit cotton for
girdles with all the supporting prop
critics Of lastex.
A spun rayon flannel to look and
feel more like flannel than real
flannel.
All the shirts you can pay for, but
limited colors to conserve dyes.
SKINNED milk hats; casein fiber,
to be exact, which is already being
used in conjunction with felt.
when the summer and fall sea-
sons come" Velie said, you'll have
your choice Of substitute materials
that will be hard to distinguish from
traditional clothing. And It won't
be shoddy ersatz. either"
Evening star., 1942-02-15

i
schools and Augusta Military Aca-
deny and is member of the Wash
ington Stock Exchange. Washington
Board of Trade and the Gyro Club
of Washington.
! 1t. Col. Robert c. Jones, the SEN
ior partner, is on active duty in the
United States Army and the firm
is being operated without change
by his partners and associates.
Reception Committee Named.
: Kenneth Birgfeld, assistant treas
urer, American Security & Trust
Co., and first vice president of
Washington Chapter, American In
Stitute of Banking, has been named
chairman of the Reception Com
mittee for the fortieth anniversary
banquet of Washington Chapter to
be held next Saturday night at the
Willard Hotel. The following bank
ers will serve on the committee:
Bruce Baird president, National
Savings & Trust; Willard G. Barker,
president, Morris Plan; Michael F.
Cahan, president, Liberty National;
r. j. Dooley, vice president and
cashier National Bank of Washing
ton; Thomas j. Groom, president,
Bank of Commerce & Savings; T.
Stanley Holland. president, District
: Bankers Association; G. F. Jacobsen
president, National Metropolitan
Robert H. Lacey, cashier, Columbia
! National; A. M McLachlen, vice
president and treasurer, McLachlen
Banking Corp; Harry G. Meem,
president, Washington Loan &
Trust; Richard A. Norris, vice presi-
dent and cashier, Lincoln National;
A. Scott Offutt, vice president, City
Bank; c. H. Pope, president, Munsey
Trust; Ord Preston, president, Union
Trust; John A. Reilly, president,
Second National; Wilmer J. Waller,
vice president, and cashier, Hamil-
ton National w. L. Koonz, presi-
dent, Anacostia Bank; F. G.. Addi-
son, jr, president, Security Savings
& Commercial; and Sidney F. Tai
haferro, vice president and trust Of
ficer, Riggs National.
About 900 members and guests will
attend the dinner, it was announced
yesterday.
Financial District Comment.
The executive council of the Dis
trict of Columbia Building g. Loan
League holds the semi-monthly
meeting Tuesday noon at the Raj
eigh Hotel, with reports due from
the Chicago council meeting.
The Chesapeake &, Ohio Railway
recently placed 10 new mammoth
freight locomotives in service in
Allegheny Mountain traffic between
Clifton Forge, Va, and Hinton, w
Va. The new units cost approx
mately $2,500,000.
The North American Co. has de-
clared another dividend on common
stock, payable April in the form
of shares of the capital stock of the
Detroit Edison Co., the fourth pay
ment of this kind. Regular quar-
terly preferred dividends also were
voted.
Retail prices in January showed
the largest monthly advance since
September, increasing 18 per cent
over the previous month, according
to the Fairchild Retail Price Index
From January through February
I department store sales in the fifth
district were Al per cent ahead OF
the 194l period, the largest gain ol
any Of the IL Federal Reserve dis
tricts.
Evening star., 1942-02-15
General Fireproofing Net
OF S1,527,715 Disclosed
BY the Associated Press.

BY the Associated Press.
YOUNGSTOWN, Ohio, Feb. IA
General Fireproofiing Co., in 1941,
had one of the most profitable years
in its history, earning net profit of
81 ,527, 1852 against $1,099,119 in
1910, before provisions of $275,000
for postwar and other emergency
adjustments, the annual report
shows
This is equal to s445 after pre-
ferred dividends but before deduc-
ton of the $275,0 item against
1925 in 1910.
Net sales for the year were $l9,-
653 ,088, a gain of 86 per cent over
1910 net sales of $10,532,613, while
cost of products, selling, admins
trative and general expenses ex-
elusive of depreciation and amorti-
zation was $l5,05l ,408 against $8,-
413,7 ,701 the previous year.
Provisions for depreciation, amor
tization and obSolescence was $685.
64s, compared with $25l, ,799 provided
for depreciation and obsolescence
for 1910, due to substantial increase
in production.
Evening star., 1942-02-15

DOdrQ. Inc OCner N""'i' " f' 'hs'
public governor, also elected Friday,
was John @. Adams, Chicago
banker.
Emil Schram, president Of the
New York Stock Exchange, noml-
mated both men, to fill vacancies.
He and Mr.. Fleming became close
friends when Mr.. Schram was IN
washington as head Of the Recon-
struction Finance Corp. and held
other important Government posi-
tions.
Job to Assist Public.
Mr.. Fleming has host OF con-
facts with investors, both large and
small, and already is thoroughly
familiar with their relations with
the stock exchange. His new JOB Is
to see that the exchange does every
thing possible that might be helpful
to the investing public and see that
the board takes no action OF any
kind that might be detrimental 10
outsiders.
Familiar with the inside workings
of the exchange, Mr.. Fleming also
has a remarkable grasp of the pub
lies point of view His contacts are
national as well as local; he has an
unusually keen grasp Of all invest
ment problems. knows the attitude
of the public toward the exchange
and in the opinion of President
Schram, will render most valuable
service in looking after the puohc
interest.
For decades the exchange had no
public representatives on the boaro.
The present move, started IN VIII
liam NICK. Martins administration,
is to help win back a lot OF lost
prestige and make new friends, all
with the view to business expansion
Brewer Made Jones Partner.
Robert C. Jones & Co., Invest
Bankers, announced yesterday that
j. Newton Brewer, jr., had been ad-
Evening star., 1942-02-15
Cotton and Woo|en Mills Kept
Busy by Government Orders

tion on rayon allotments and re-
strictions on wool which will be put
into effect in the second quarter OF
the year.
Rayon converters again inter-
changed supplies to relieve search
ties of certain materials. Retail
demand from converters was re-
ported fair.
Cotton mills awaited official ac-
ton on raising priority ratings on
Osnaburg production, which was
expected to hinge on Government
acquisition of adequate supplies OF
cotton duck, for which there is q
pressing demand.
Evening star., 1942-02-15
North American Plans
Dividend in Shares
By the Associated Press.

By the Associated Press.
NEW YORK, Feb. 14-The North
American Co. announced today a
dividend on its common stock would
be paid April l to stockholders of
record March in capital stock OF
the Detroit Edison Co., in the same
manner as dividends in the last
three quarters.
The payment, if approved by the
Securities and Exchange Commis-
sion, will be at the rate of one share
of Detroit Edison for each so shares
of North American common held.
Full payment would reduce North
American holdings of Detroit Edison
to Gil, 900 shares from 765,707 shares,
the announcement said.
Evening star., 1942-02-15
Grain Prices Extend
Moderate Advance
In Slow Dealings
Strengthened by Luck
Of Selling Rother
Than by Buying
By FRANKLIN MULLIN,
Associated Press Market Writer)

ASSOCIATED Press MdrkeL WTlteIJ.
CHICAGO, Feb. 14.-Continuing
to creep upward slowly, grain prices
today added fractions to the weeks
small net gains in market strength
ened more by lack Of selling pres
sure than by any unusual buying
interest.
Wheat closed ss-ss cent higher
than yesterday, May 81 29%-3s, July
s1.319s- Il; corn 1a-% up. May s7ss-
Il. July 892s-k; oats 1s-ss up; rye
unchanged to y higher, soybeans Il
higher to l cent lower and lard un-
changed to S lower.
Prices in most pits finished frac-
tions to about cent higher than a
week ago, with wheat and corn about
cents below the four-year highs
established late in January.
Although traders continued to
show extreme caution because of
the war and uncertainty as to the
fate of legislation pending in Con-
gress to prohibit the Government
from selling its wheat and corn
stocks at prices below parity, the
market derived some support on the
basis of several underlying trade
factors
These included the fact that pri-
vate and Government sales of wheat
have diminished greatly recently
Prices at most markets now are be-
low levels at which the Government
is Offering old wheat for sale and
are not high enough to permit more
than a few cents profit to producers
who redeem 1941 grain from loans
Best profits on redeemed loan wheat
can be obtained in the st. Louis
area and at southwestern winter
wheat markets but even there in
terest and storage charges take up
much of the margin now available
Grain range at principal markets
today:
Evening star., 1942-02-15
Dividend Is Declared
By CopperweId Steel
Special Dispatch to The Star.

DlSpHICIl OIdIs
PITTSBURGH, Feb. 14.-Copper-
weld Steel Co. has declared divi-
dend of 20 cents per share on COM
mon stock, payable March 10 to
stockholders of record March l..
This is the same amount as the last
previous payment, made Decem-
ber 10.
The regular quarterly dividend of
621a cents per share on the $50
par value cumulative convertible
preferred stock, S per cent series,
also has been declared, payable
March 10 to stockholders Of record
March l.
Evening star., 1942-02-15
By the Associated Press.

NEW YORK, Feb. 14-The steady
flow of Government orders for cot
ton and wooden goods continued to
hold mills to capacity operations
this week, but as a result produc-
ton of civilian goods decreased.
In the Worth street cotton goods
district agents moved only about
100000 yards of all types of goods
to civilian users.
Woolen dealers reported only
scattered fill-in orders for civilian
needs. Mills experimental with
mixtures of wool and rayon for fall
lines and awaited definite informa-
Evening star., 1942-02-15
Corn Grind Increases

NEW YORK, Feb. IA (SpeciaD -
A corn grind of 10,118,l41 bushels
during January for products going
into domestic use was reported to-
day through the Corn Industries
Research Foundation. This COM
pares with a grind of 8,578,885
bushels in the previous month and
1898, ,752 bushels in January, 1941.
Evening star., 1942-02-15

mltted as a gen.
eral partner in
the firm.
Mr.. Bre W e r
has been with
the firm for sew
eral years and
was form er ! y
connected with
the Riggs Ma
tional Bank and
United S t a t e S
Treasury De-
partment as a
national bank
examiner. He
q t t e n d e d the
yIYoeL 1 ~ Z IN
Evening star., 1942-02-15

WV AASl . VA sAAS
New York Stock
Exchange, repre-
senting the pub
lie. was hailed in
w a S h i n 6 t o n
brokerage circles
yesterday as a
particularly fine
selection.
Brokers said
the choice was a
very high ma
tional honor, as
the public has
only two repre-
sentatives on the
Evening star., 1942-02-15
Aviation Corp. Shows
S2,454,142 Profit
In Fiscal Year
TotuI Contrasts With
Only SSS, $50 Earned
In Preceding Period
BY the Associated Press.

NH-N
NEW YORK, Feb. 14-Aviation
Corp. today reported for the fiscal
year ended November 80 net profit
of s2,454,142, equal to AZ cents a
share, compared with S88,350 tin-
cluding s587 $50 profit on sale of
property, equipment. etc., or 2
cents a share, in the preceding year.
These figures omitted results Of
operations of Vultee Aircraft. Inc;
Auburn Central Manufacturing
Corp. and New York Shipbuiiding
Corp, subsidiaries of Aviation Corp.
The company announced the
largest backlog of orders in its
history. Approximately $4,000 en-
ployes are manufacturing the prod
ucts of the corporation, its sub
sidiaries and associated group Of
companies, an increase of more than
100 per cent.
International Machine.
The first public report of Interna-
tional Machine Tool Corp. today dis
| closed net profit for the 10 months
ended October 81 of s916947. equal
after preferred dividend require
ments to $3.50 a common share.
C. Russell Feldmann, president,
told stockholders that the Elkhart,
Ind, plant was working two 55-hour
shifts per week and the Indianapolis
division three 8-hour shifts daily,
seven days a week.
Prior to 1941 the company was
privately owned and issued no pub
lie annual statements.
Chicago & North Western.
The Chicago & North Western
Railway reported 1941 net income of
$1,460,117 compared with loss of
$5,222 1863 in 1910. Loss in December
was $780, ,7O9 compared with net in
come of $359,176 in December, 1910.
Mohawk Carpet Mills.
Mohawk Carpet Mills, Inc. earned
in 1941 net profit of 81 1862 .372 after
provision of s4,760276 for Federal
income and excess profits taxes,
equal to 1892 share, against ST.
9,204, or $3.50 a share, in 1910.
Plants are in Amsterdam, N. Y.
Commonwealth & Southern.
Commonwealth & Southern Corp
and subsidiaries reported for the
year ended December 81 net income
of SIP, ,141 ,227, after Federal income
and excess profits taxes, or $500 a
share on S6 cumulative preferred
stock on which accumulations are
about $21 a share.
After preferred requirements, the
balance was equal to cents a COM
mon share, compared with net in
come Of S13,O4S,51O in 1910, or $8.7o
a preferred share and IL cents a
common share.
New York Shipbuilding.
New York Shipbuilding Corp. re-
ported for the year ended December
81 net profits of s3,O74,533, after
all charges and provision for Fed
eral income and excess profits taxes,
| compared with S2,334,261 for the
year 1910.
Cluett, Peabody.
Cluett, Peabody & Co., Inc, and
subsidiaries, shirt makers, reported
net income for the year ended De-
cember 81 was S3,O44, ,094, equal to
Sab common share, compared
with $2,773,849 or $374 a share in
the preceding year.
Other Reports Listed.
Other earnings reports issued dur
ing the week showing profits per
common share included:
Quarter Ended December 81.
Evening star., 1942-02-15
Roll Issue Planned

The Chicago e. Eastern Railroad
has applied to the Interstate Com
merce Commission for authority to
issue $1,200,000 of equipment trust
certificates in connection with the
purchase of 500 new box cars.
Evening star., 1942-02-15
Cottonseed Oil.

Despite a number of bids for cottonseed
oil futures at ceiling leyels today, offerings
were scarce and only four sales occurred.
March to July at .03 Of cent pound
premium for July.
Closings: March, 1395b: May, 139Sb;
July. I398b: September. Is 9sb.
Crude cottonseed. oil markets were life
less. Ceiling bids of 1885 cents pound
in the Southeast and valley. and 1914
cents in Texas failed to dislodge any
offerings.
Evening star., 1942-02-15
Wine Output Larger

The Treasury reports production
Of domestic still wines increased to
54,134,548 wine gallons in November,
compared with 35,644,533 wine gal
Ions in the similar month of 1910.
Evening star., 1942-02-15

Cottonseed oil closed steady. Bleachable
prime summer yellow unouoted Prime
crude. 12.50b;: March. May, July and Sep
tember. 1867
Bid n Nominal.
Evening star., 1942-02-15
New Orleans Prices

NEW ORLEANS, FEB. Ia cP-cotton
futures advanced here today on weekend
covering and record-breaking January Cen
sli, suS Bureau consumption figures. Closing
Evening star., 1942-02-15
Post
For Fleming
Hailed Here
Election to Bourd
Honors Outstanding
CupituI Finoncier
BY EDWARD G. STONE.

Election of Robert v. Fleming,
president of the Riggs National
Bank, as member of the Board of
Evening star., 1942-02-15
Cotton Consumption
Boosted Sharply
In January
Census Bureau Reports
Jump From Year Ago
And Previous Month
BY the Associated Press.


The Census Bureau reported yes
terday that cotton consumed during
January totaled 945 ,909 bales of lin
and 1l6,247 bales of linters, COM
pared with 887 1926 and 1852 dur
ing December last, and 844 ,839 and
114160 during January last year.
Cotton on hand January 81 was
reported held as follows:
In consuming establishments,
2,495, 1856 bales of lint and SALTS of
hnters, compared with 2,393,78 and
526647 on December 81 last. and
1,878,231 and 516,777 on January 81
last year.
In public storage and at compress
ses 12,857 ,321 bales of lint and 146,-
007 linters, compared with 1878
773 and lis ,O94 on December 81 last,
and 14,672 545 and IS ,529 on January
81 last year.
Cotton spindles active during
January numbered 23,077,352 COM
pared with 23.063112 during Decem-
Der last, and 22,82e ,22O during Janu-
ary last year.
New York Prices Gain.
NEW YORK, Feb IA (P.-
Demand from mills gave further
impetus to the current forward move
in cotton futures today. The market
closed 10 to 35 cents a bale higher
Maximum gains were trimmed a
bit when hedging and Southern
offerings increased
The Government January con-
sumption report was somewhat dis
appointing to the trade, who ex-
pected a new monthly record. The
total Of 945 ,9O9 bales was about 20
900 bales under expectations and
about 5000 bales under the record
high reached last october.
Mill stocks Of the staple at the
end of January, however, totaled O.
495, 1876 bales, highest ever accumu-
lated, despite recent heavy consump-
tion.
Panoo
Evening star., 1942-02-15

ChicaEo Cash MARKET.
Cash wheat prices were "a cent higher
today: basis steady; receipts. 8 cars;
Shipping sales. 1,50O bushels. Corn, A-1a
higher; basis. firmer; receipts, ISL cars;
Shipping sales, $4,000 bushels; booking,
"a, 600 bushels. Oats. A-la up; basis,
arm for, choice: easy for lightweight
grain; receipts. 26 cars; shipping sales,
$4,000 bushels.
Evening star., 1942-02-15
Selected Stocks
Gain Despite
War News
Advance of Fractions
To 81 Recorded in
Slow Dealings

WHAT STOCKS DID.
Evening star., 1942-02-15
Weekly FinoncioI High Lights

Latest week. Ppvious week.
ss2% s7.7%
Evening star., 1942-02-15
Cluett, Peabody.

Cluett, Peabody g. Co., Inc, and
subsidiaries, shirt makers, reported
net income for the year ended De-
cember 81 was S3,O44 ,094, equal to
Sab common share, compared
with $2,773,849 or $3.74 a share in
the preceding year.
Evening star., 1942-02-15
Believes Increase Possible.

Rail movement of oil into the East
has reached the ecord-breaking
rate Of approximately 1000 cars a
day and now meets about IS per
cent of the demands of the Atlantic
seaboard area. the Petroleum Co
ordination Office reported yesterday.
Total rail movements for the week
ended February 7 amounted to 223,-
900 barrels in 6,935 cars.