davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Exchange Sets Emergency
Rules in Case of Air Raid

NEW YORK. Nov. Cover
nors of New York Stock Exchange
have amended the rules of the
stock exchange governing trading
hours TO provide more flexibility
in event of an emergency.
Purpose of change is in case of
air raid alarms or other emergen-
cies during trading hours to make
it possible to % postpone the
opening, CD advance the closing,
go close temporarily and reopen
and t4) extend trading hours for
a short period after the normal
closing time if ii should appear
necessary to facilitate the proper
handling Of business.
The board of governors has also
adopted certain rules which will
come into force in the event Of a
public air raid alarm in New York
City.
These rules follow:
If an alarm is in effect al
the time the exchange would nor
mally be opened, the opening will
be postponed until after the public
all clear signal.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Higgins to Speed
Cargo Plane Plant
1900 Units for Army
Will Be Started Soon

WASHINGTON, Nov. Z (UP).-
Andrew Jackson Higgins, New
Orleans shipbuilder. leaves for
home tonight to begin construction
of a huge plant in which he in
tends TO build 300 cargo planes
for the army.
While he has not received a
contract, he said he had a letter
of intent from the army air forces
authorizing him to proceed with
production of the cargo planes.
The war department would not
confirm that he had been given
the letter.
Officials said they were advised
to make no statement" until a
contract was signed-a matter of
two weeks to a month" after a
letter of intent is written.
Before leaving Washington, Hig-
gins plans TO confer with Rear
Admiral Howard l.. Vickery, vice
chairman of the Maritime Conn.,
in an effort to halt fur
Their demolition of an incompleted
shipyard which he hopes to use in
the plane project.
He started building the yard TO
construct 200 Liberty cargo ships
but the commission Cancelled his
contract last summer.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Air Insurance First

Al May. who recently joined
the Byrnes- McCaffrey insurance
agency as a vice president. has
at least one very important first
TO his credit.
He handled the first passenger
liability insurance policies ever
written on an airline, handling
passengers exclusively-the old
Stout Air Service.
II was back in &c and Al says
with some pride that the COM
pany never had TO pay single
claim. However, he did admit
that here was one minor acct
dent in which a ship was dam
aged-but he wasn't covering
the planes.
He also covered Stout's rail
car. and that was a funny one!
II seems that in order TO oper-
ate over the lines of the
D. T. G. 1, Stout had to agree
to assume all liability for acct
dents, regardless of who was at
fault. The policy covered that.
One day the rail car ran
head-on into a hand car. No one
was injured. but the hand car
was demolished and the insur-
ance company paid off.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Investor Tax Kit
Again Popular
GEORGE H. PRATT

With the new revenue act of
1912 the most complicated ever
devised, demand for the new "In-
vestors' Tax Kit" which is being
distributed without charge by
Merrill Lynch, Pierce, Fenner and
Beane, is running far heavier than
last year. Cyrus King. resident
partner reports.
King said that despite advance
orders for 5000, the company is
still filling requests coming in as
a result of the firms ad in The
Detroit Times and other papers in
leading cities.
The tax kit includes a pamphlet
survey of the 1912 tax law as it
applies to investors of all incomes.
prepared especially for Merrill
Lynch, Pierce, Fenner e. Beane by
the Research Institute Of America.
The kit also includes the firms
regular monthly letter, which
points out significant changes in
the tax law, and three work
sheets intended to simplify the
task of computing capital gains
and losses.
1t is understood that the prep
aration and mailing of the 1912
tax kit. plus the appropriation set
aside by the firm for advertising,
will be in excess of S50,000-be-
lieved to be a record sum expended
for a private promotion piece OF
this kind, by an investment bank
ing house.
Charles Z. Merrill, senior part
ner, is a firm believer in the
value of advertising. the sums
spent regularly during the last
few years since the merger having
produced thousands of new &C.
counts for the firms branches
throughout the United States,
King said.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Junior Savings Group
Names Reid President

Care B. Reid of the Surety
Savings and Loan Association of
Detroit was elected president of
the Michigan Junior Savings and
Loan League at a meeting held IN
East Lansing, it was announced
Saturday. Other newly elected
officers are Arnold j.. Sprayman
of the Capitol Savings and Loan
Association, vice president, and
Laura Immersion of the First Fed
'eral Savings and Loan Association
'of Detroit, sccretary-treasurer.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
New Permanent
Controls Set
OPA Fixes on Onions,
Turkeys and Potatoes

WASHINGTON. Nov. THE
IOPA today had established per-
manent price controls on potatoes,
onions and turkeys at every stage
of distribution.
So far as the housewife is con-
Icerned, new regulations will have
following immediate effects on re-
tail prices:
POTATOES - Maine pot [ o
prices, which were frozen at their
lowest seasonal level by tempo
rary order October 5, will be per-
mitted to rise TO the normal level
for November. This means at
most a rise at retail of ! cent a
pound on the average and less in
many areas.
Western potatoes which were
frozen at comparatively high sea-
sonal prices in the emergency
order, probably will show no
change at retail.
ONIONS - AS in the case of
Maine potatoes, the new regula-
ton allows onions 10 rise to the
normal November level as the
temporary freeze caught onions in
most market areas at the peak of
the seasonal glut when prices
were al the years lowest point.
At retail. OPA estimated onion
prices will go up less than accent
a pound.
TURKEYS-No material change
from present levels.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
T. III. STAMBAUGH

Eff an alarm is given during
the time the exchange is open for
business, the interior signal will
be given which shall automatically
terminate all trading on the floor.
3-The termination of trading
under the circumstances shall
have the same effect on bids and
offers as closing of the exchange.
Upon such termination of
trading all open agreements TO
stop" securities shall become
effective.
5-If trading is resumed the
same day, bidding and offering on
the floor at the reopening shall be
conducted as at any other opening,
but for other purposes a trading
session so interrupted shall be re-
garded as Single session.
6-All day orders shall be re-
garded as good for the entire day.
regardless Of any interruption OF
trading.
IA period of at least 20 min
utes will be allowed between the
public all clear signal and opening
or reopening.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Shift of Workers
ToDrdft PId tanned

WASHINGTON, Nov. z. 49, Or
derby drafting of workers in es-
sential industry is the objective of
a plan announced today by Man
power Chief Paul V. McNutt and
Selective Service Chief Lewis B.
Hershey.
Employers in such industry will
draw up manning tables for the
guidance of state and local draft
boards.
Some workers can be classified
as irreplaceable; others can be de-
ferred on a schedule. But McNutt
and Hershey warned that practi-
cally all men fit to fight must be
released by industry.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
On the
Business
front
By WARD SCHULTZ
Tin,e. Financial Editor

Best news the chain stores
have had in years Is the decisive
vote against the punitive chain
store tax IN Utah
II comes at a time when the
chain stores are doing yeoman
work al keeping the cost OF hv-
inc down for millions OF Amer
cans and also ar a time when
the competitlvC scales have
tipped in favor OF the independ-
ent merchant.
The reason for this apparent
paradox is that despite lower
chain store prices, the lndepend-
ents have advantages greater
than ever before because they
are more adaptable 10 wartime
conditions
Regular shoppers al lndepend-
ent stores get their coffee reEu-
larly and as the pinch becomes
more acute. they Will be favored
in the purchase Of choice cuts OF
meat. scarcity items. etc. In
contrast chain stores must con-
tinue on a first-come, first
served basis.
Too. the added overhead of
handling rationing certificates
places a far heavier load on the
chains than on the independent.
Perhaps the time has come 10
give the chains a break. instead
of penalizing them.
strong demand.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
5-Point Program,

He outlined the program as fol-
lows:
1.-The procurement agency will
Inform WIPES smaller war plants
division of its requirements for
Items which are suitable for small
manufacturers.
procurement officers will in
! SiSt on maximum possible SUBJ
contracting" on items which. be-
cause of their compleXity or other
reasons, must be produced by
larger plants.
3-The small war plants divl-
sion will maintain a list of small
Iplants available for war contracts.
1.-The procurement agencies
will cooperate with WIPE in ex-
lamining existing prime and SUBJ
contracts with a view 70 securing
further subcontracting."
5-The smaller war plants di-
vision will provide small firms
with engineering and production
assistance necessary TO obtain and
fulfill contracts.
1t Gen. Brehon B. Somervell,
chief of the army service of sup
ply, and James V. Forrestal, un-
Idersecretary Of the navy, sent di-
receives 10 procurement officers
bordering the program TO be car
Iried out.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Peocetime Guarantee

Even in wartime, government
tai officials and employers
ought TO recognize that there is
an optimum working week, and
that unduly lengthening the
week would after a point defeat
its own purpose through lowered
efficiency. Nevertheless, Amer
lean manpower is capable in
wartime of putting in a 48--hour
week, and possibly, where cir
cumstances warrant. up to 81
hours. There should, however,
be careful supervision of any
attempt TO lengthen the work
ing day beyond eight hours.
Like interferences with bust
ness liberty and individual free
dom. wartime deviations from
social legislation should be
reversed when the war is over.
In time of peace. effective
running of the national economy
not only offers the promise of
more and better goods for the
average worker in exchange for
a weeks work. but also an extra
dividend in the form of in
creased leisure.
But there must be detour
away from this long term trend
in wartime. Donald NJ. Nelson
has indicated that 60 per cent
of all production in 1913 will be
diverted into war channels. If
only 40 per cent of the man.
hours ganfully employed are TO
be devoted TO catering to civil
ian requirements, then il is
eminently desirable TO expand
the total labor supply by length
cning the work week.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Hut1hings Heads
West. Auto Supply

CHICAGO, Nov. 7. - Lester
Hutchings has been elected pres
ident of Western Auto Supply
Company to fill vacancy created
by the death of w. w. Humphreys
Hutchings was formerly first vice
president. y. Adams was
elected a director to fill the va.
cancy in the directorate. p. f
Conner was named first vice pres.
ident. j. A. Laws Jr. second vice
president and p. r. Richardsor
assistant secretary.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
en- Using V Loan

Out of New York comes the
word that the General Motors
Corporation is expected 10
shortly avail itself of a portion
of its recently announced bill
lion dollar line of bank credit.
No indication has been given
as TO the amount the company
may use in its first borrowing,
however.
Based on the rapid rate of
increase in its war business, IT
is presumed, though. that a SUBJ
stantial use of the credit will be
made In the near future. i.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Lion end the Lamb

At the Adcrsft luncheon the
other day:
Gus Scholle. regional director
OF We Go and guest speaker Of
the day, called attention "a the
fact that the CLOS Victor
Reuthery was sitting with John
Lovett of the Manufacturers
Association.
Cracked Adcraft President =.
{. Murray:
I'D say something about
The lion and the lamb II i was
sure which was the lion"
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Steel Mills
AT 101 Per Cent

NEW YORK. Nov. Opera.
tons in the steel industry for the
week ended November 2 were a,
101 per cent of capacity. according
to compilation by Dow. Jones &
Co., Inc. This compares with 100h
per cent in the previous week and
100 per cent two weeks ago.
United States Steel operated at
1001a per cent of capacity COM
pared with 100 per cent the pre-
vious week and 1914 per cent the
week before. Other leading COM
panies operated at 101 per cent
last week, which compares with
100R per cent the week preceding
and 100 per cent two weeks ago.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
AU-Time High Seen
In Amer. Seating Sales

GRAND RAPIDS. Nov =
American Seating Company this
year should report sales of approx
imately Sl4Q00.oQo the largest
volume in IFS history.
All plant facilities are devoted
20 war production or TO manufac-
ture Of such Of its own line as are
required by war conditions. Among
The products developed or adapted
10 war needs is a plywood pilot
eat for planes.
The company also had been maxi
lng glider parts, but due 10 a
change in the glider program.
these facilities now are idle. II is
anticipated, however, that they
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08

VIII very shortly be used for pro-
duction Of airplane parts for an
other company.
F, Glider parts production was not
of sufficient Importance to Amer
lean Seatings overall picture 10
materially affect earnings. Posi-
bility Of renegotiation of contract
prices makes il difficult to esti-
mate closely the amount of net
profit that may be reported for
this year.
However. il is not unlikely that
after provision OF a reserve against
this contingency final 1912 earn
.ings may exceed somewhat the
S505, OBJ. or 1928 a share reported
for 1871.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Hoskins Earnings
S327,44O in 9 Months

Hoskins Manufacturing Com
pany reports for the nine months
ended September 80 net profit
of 1927, 440 after provision of
$3.50. 730 for federal income and
excess profits taxes. Net is equal
to So cents a share on the COM
mon. This compares with $450, $40,
equal to "a cents share for the
nine months ended Sept. 80, 1871,
when federal tax provisio n s
amounted to A59.095.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Barron's Index at Peak

NEW YORK. Nov. THE
physical volume of business in
the week ended October 81 ad.
vaneed 10 a new high of 1905
from 1898 in the preceding week
according TO Barron's Index, ad.
juSted for long-term industry anC
population growth. A year age
this index was 1874.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Bankers Gel together

The Bankers Club OF Detroit
will hold its annual banquet
the forty-fifth-at the Statler
Hotel on November Is and
Mark Brown of Chicago will be
the zone and only" speaker.
A vice president and director
of the Harris Trust and Savings
Bank, Brown is also financial
advisor to the division of indus
trial operations in Washington.
His subject will be: Banking
for Victory"
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08

circulating the nolIon IldI,
amidst the great armament
effort, we could retain our
social gains.
Stark realities are now facing
the country. and it Is obvious
that. while undertaking 10
divert 60 per cent of total pro-
duction 10 war purposes, we
cannot for the duration main
tain American living standards
or social gains. That is the cost
of total warfare, and delineates
the nature of the sacrifice inn
posed
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Greatest Reservoir

In the circumstances, ii seems
self evident that the greatest
reservoir Of additional man.
power lies in lengthening the
work week of persons already
employed.
The United States News, in
surveying the situation, reports
that in the United States in
manufacturing industries the
average work week is 43 hours;
in Great Britain, Sc; Germany,
60; in Russia, Go. The present
43 hours compares with 405
hours maintained in 1941. Ac-
cording TO the War Production
Board, many of the war work.
ers have been working longer
weeks than the national aver
age. The board reveals that Z
out of 10 of the war workers
have been working AZ hours or
more. In the bottleneck machine
tool industry the work week
runs from so to 70 hours. In
shipyards, the week runs be-
tween DC and 50 hours.
In the war industries, the 40
hour law. nevertheless. applies.
and overtime pay is given for
hours in excess of 40. This is
an inflationary factor. which
expands the total cost of the
war.
Certainly, at time when the
whole effort may be limited by
the availability of manpower, it
seems idiotic to have fiat. gov
ernment-created shortages re-
Sulting from continuance on the
statute books of peactime, de-
presSion-bred legislation, which
was designed TO spread the
work when labor appeared to be
temporarily in excessive supply.
1t is a time for plain speaking.
tires pective of pressure
brought by important blocs and
by their political spokesman,
Congress ought to deal with the
subject courageouSly in the light
of the realities.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08

The metals, least expensive Of
which sells for S28 an ounce, have
a wide variety of war uses. They
are extensively used in the manu-
facture Of poison gas and in the
making of spark plugs
Iridium sells for $50 an ounce.
rhodium for $165 an ounce and
palladium for $2S.
During the war years OF 1910
and 1871 alone, the combine
headed by Kertess got $4,000
worth of these metals into Ger
man hands.
Foreign corporations listed in
the indictments are:
The Deutsche Gold and SLIDER
Scheideanstalt. one of the largest
chemical firms in the world and
Germany's largest consumer of
precious metals.
G.. Seibert. G.. NJ. p. H.. German
subsidiary of Deutsehe Gold.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Hydraulic Machinery
Appoints Engineer

Appointment Of d. A. MacKin-
non as sales engineer of Hydraulic
Machinery, Inc, was announced
Saturday by Carl J. Kennedy, gen.
eral sales manager. MacKinnon
was formerly with Vickers, Inc,
and Sunstrand Machine Tool Com
panY.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Kertess' Career

Leukon, A. c.. an affiliated firm
used by Deutsche Gold because il
is located in neutral Switzerland.
KerteSs, who was born in Frank
fort, Germany, in 1893. came 10
the United States in 1923, but soon
went back TO Germany. But in
1881 he returned TO the United
States and was naturalized in
1910.
, He was the head of the board
of trade for German-American
Commerce, Inc, said TO have been
by the NaZis,
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Nation Store Sales
Hold Gain Over 1941

NEW YORK. Nov. depart
ment stores sales were Ia per
cent higher last week than in the
corresponding week q year ago,
the Federal Reserved Board re-
ported. In the preceding week
sales were rs per cent higher than
in the similar 1871 week and in
the four weeks ended October 81
they were rs per cent higher than
the corresponding period a year
ago
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
End of 4O-Hour Week
Vital War Measure
Postwar Return Of Social Legislation
Part Of Switch Back to Free Enterprise
BY MERRYLE STANLEY RUKEYSER
International News service Economic Commentator

further mobilization of manpower for the
desirable TO apply the simple common
remedies first before initiating fancy schemes OF regl-
mcnatOn.
Only a few months ago I engaged in coaso-coas
Montana and the acting wages ana
undertaking TO argue that the
40-hour week limitation sancrosanct even In wartime WIN
5 much a stake such viewpoint seems preposterous
political spokesman were
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Borg-Wdrner Corp.
Again Pays 40 Gents

CHICAGO, Nov. 7.-Borg-War-
ner Corporation has declared a
dividend of 40 cents on the COM
mon stock payable December 10
10 holders Of record November "a.
Similar amounts were paid in &C.
Itober, July and April, this year. =
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Lakey Completes NeW
Foundry; Net Outlook Good

With the steel foundry operat-
ing at a peak rate, however. the
earnings prospects appears much
improved. Current year may well
see all previous sales and earnings
records exceeded.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Dividend Of Is Cents
By Federal MoguI

Federal Mogul Corporation has
declared a dividend of 25 cents on
the common, payable December IS
to holders of record December 5.
A like amount was paid Septem-
Der Is.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Additional War
Work Assured
Little Business
U. S. Directs Some Prime
Contractors Orders
60 TO Smaller Plants

WASHINGTON, Nov. 7 (UP).-
Agreements designed 10 give more
war work TO small manufacturers
today were completed between the
War Production Board and the
army, navy and maritime commits
sion.
A major provision requires pro-
Icurement officers TO cancel orders
of prime contractors for new
machine tools where it is found
that operations requiring them can
be handled by subcontractors.
Lou f. Holland, WPB deputy
chairman and head of the smaller
war plants corporation, said the
program should obtain excellent
results. although of course we can.
not expect miracles"
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Four Firms Named

Also named were four corpora
tons including the Chemical Mar
keting Company of New York. an
organization owned by Kertess.
The other three corporations are
all foreign-owned and operated.
Key figure in the plot is the
fugitive Doctor Kertess. named
two years ago by the Dies COM
mittee as a member of a Nazi spy
ring. He first came into promi-
hence when named as the financial
hacker OF the American Fellow
ship Forum of which Frederick
Auhagen was president Auhagen
was jailed as an unregistered Nazi
agent.
With his associates. Kertess is
accused, under the indictment, of
contriving TO send some OF the
metal 10 Colombia under export
license. there TO be transhipped TO
Germany.
On at least one occasion. Betty
Mueller Struggled a quantity of
the metals out of the country 10
Bilbao, Spain, according TO the
indictments,
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
Trend of Sales

NEW YORK. Nov 1Ns) Total sales
Stock Exchange-stocks. $50, ESQ, shares;
bonds, 81. 22s. 900.
Curb Exchange-stocks, $3.50 shares
bonds. H3s, 900.
Big board ssles throughout the day:
Open 10 1900 2A,270 shares
III 100 70 noon ass, 01o shares
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-11-08
u. 5. Uncovers
10 SmuggIe
Metals TO Ndzis
4 Persons. 4 Firms
Indicted for Conspiracy
involving ; Rare Ores

NEW YORK, Nov. 7 INS).-
Broad outlines of a cunning Nazi
plot to siphon into Germany
the small and extremely valuable
supply of American-held basic
platinum elements vital to war
production were unfolded today in
federal court.
Stakes in the scheme, uncovered
when United States Attorney
Mathia F. Correa opened four
sealed indictments. were the rare
metals, rhodium, iridium and pal
ladium, now far more precious
than gold.
Named as plotters in the indict-
ment were DR.. Ferdinand A. Ker-
tess. German-born industrialist of
fashionable Briarcliff Manor, n.
Y, now fugitive; Betty Mueller,
a former Brooklyn Stenographer,
now in Germany; Theodore c.
Barth of Cali, Colombia. and Or.
Herbert Lickfett of Stockholm,
Sweden.