davidaulloa/AmericanStories huggingface dataset:
Evening star., 1942-03-01
D. {. CIearinqs
SET Record in
February
Two Months Volume
Also at New Peak
For Thut Period
BY EDWARD C. STONE.

Bank clearings in Washington ir
February reached the highest point
for any February on record, made
the total for the two months Of this
year also the highest ever known
for that period and indicated that
business in the Capital was far
ahead of any other February in the
city's history.
February bank clearings totaled
Sl38, ,252, ,606.20, as compared with
$11s,571 .59716 in February, 1941, and
a sharp increase of $l9,681 ,009 .04,
George H. Bright. manager of the
Washington Clearing House, an
nounced yesterday.
Cancelled checks in the Capital in
the first two months of this year
totaled s305, ,068, 400 SO, against $3.50
758,87980 in the like period a year
ago, gain so far in 1912 of $54, ,30e,-
61083, the report showed.
Except for last year, the previous
high mark for the two months was
in 1929, when clearings ran above
S239, 100000 The February total in
1929 was sos, ,649, ,040.44.
Bankers said yesterday that the
figures clearly reveal business
boom in the Capital that no other
February has experienced, the same
situation being reflected in recent
trade reports. No doubt, they said,
cleArings will continue the sensa-
tional climb for many months.
Huge Bond Sales Reported.
r. Loehl O'Brien, president Of the
Life Underwriters Association, re-
ported yesterday that members of
the organization have had brilliant
Evening star., 1942-03-01
Acacia Plays important Role
In Growth Of Washington

= Emphasizing the highly important
econon4c role played by the Acacia
Mutual Life INSURANCE 90. in the
National Capitals growth, William
Montgomery, president, reported last
night that during l941 the company
paid to its home Office employees and
agents in Washington the sum OF
$1,067,5 in salaries and commits
sions. Supplies purchased here by
Acacia - furniture and fixtures,
printing and stationery and building
supplies-approximated $25o,ooo.
The amount Of taxes paid in the
District, including real estate. pre-
MUM, D. G. unemployment and
others Excluding Federal and Stats
taxes, reached the substantial sum
Of SIS, 5,1s0 for 1941. while the amount
Of payments to local public utilities
totaled more than 431 1000. The lat
ter figure covers payments for elec-
Evening star., 1942-03-01


month to the installation of salary
deduction plans. They have con-
tacted % firms with $4,000 employees
and have installed the plan in 1C
of those, with 5000 employees par
ticipating. The pledges made rep
resent Sl5,939 per month in bonds
sold. or s191 .268 per year.
John D. Marsh Is chairman Of the
associations Defense Bond Com
mittee. Other committee members
are John E. OBrien, Dumont Beer
bower, Earle Hough, Cochran Fisher,
John McElfresh, Russell P. Free
man, Claude Cook. R. NJ. Plake,
Curtis Martin, E. Leslie Hardisty,
Charles F. Suter, Maj. Guy Withers,
]. L. Maphis, Joseph Silverman,
Maurice w. Geens, Samuel Chant
ker and Russell Shelk.
In the past two months agents in
the whole country have sold nearly
S78,00O,000 in Defense bonds, Mr..
O'Brien said, $4,000 900 in cash
sales and s65,000, 900 under salary
allotment plans.
Nees Heads Quotations Group.
Howard E. Demuth, chairman Of
District Committee No. II, of the
National Association of Securities
Dealers, has reappointed Bernard j..
Evening star., 1942-03-01
Lukens Steel to Call
$1,000, 900 Bonds

BY the Associated Press.
NEW YORK, Feb. 2S.-The Lukens
Steel Co. today said 1t would call fol
redemption May ! al Of its out
standing SIS per cent bonds due In
1855.
There are outstanding, the COM
pany said, about $2,70o 900 Of these
bonds, which originally were issued
in 1920 to mature in 1910.
The life Of the bonds was extended
in 1888 to 1855 and the interest rate
Of 8 per cent was reduced to S per
cent, with the company agreeing to
pay additional interest Of per cent
q year If net earnings were suf1i-
cient to warrant it.
The company said the refunding
operation was being handled through
a group Of banks headed by the
Tradesmen's National Bank & Trust
Co. Of Philadelphia.
Evening star., 1942-03-01
Government Shelves
Price Minimums
For Egg Buying
Floor Is Withdrawn,
But Purchases Will
Be Continued
By the Associated Press.

By the Associated Press.
The Agriculture Department yes
terday withdrew It's minimum pur-
chase or floor" price on eggs in the
New York and Chicago Mercan-
tile Exchange, but said 1t would
continue to GUY In these markets
for British lend-lease and domestic
relief programs.
The department has been buying
on these markets on the basis Of
an announced minimum price Of
271s cents . dozen, carload lots
Omcials explained that ? floor
prices were not now considered
necessary to assure producers .
guaranteed IS per cent Of parity.
On February Is egg prices on
the farm had reached 90 per cent
Of parity, the department said.
Officials stated, however, that the
department was prepared to make
whatever purchases might be neces-
sary to prevent declines in egg prices
out Of proportion to normal sea-
sonal changes. They said it might
be necessary to announce again
minimum purchase prices for linn
tied periods Of time.
Canning Sugar Curbed.
The War Production Board or
dered sugar refiners, importers and
distributors not to deliver sugar to
Gamers except on certification that
the Gamers will begin using the
sugar In canning operations within
As days Of the delivery date.
Oficials said the order was de-
signed to prevent sugar now needed
from being stored against future
requirements.
Evening star., 1942-03-01

tric, gas, telephone and telegraph
Service at the home ONCE. At the
same time, Acacia paid approximate
ly $500,000 last year to its policy
holders and beneficiaries in Wash
ington.
During the past year, Mr.. Mont
gomery announced. Acacia deposits
(clearings) In District of Columbia
banks aggregated more than $23, ,o0o,-
600, and the company's average
Washington bank balance through
out the year was more than $1,000
00O.
Home ownership has been i'm
mensely stimulated by the COM
pany's mortgage loan policy, Mr..
Montgomery added. These loans, al
most entirely Of the monthly pay
ment type, totaled at the close Of
the year more than $50, ,<35y 900 and
were secured on 1854 properties Il,
the greater Washington area alcns,
Evening star., 1942-03-01
Rubber Footwear Makers
To Confer on Price Curb
BY the Associated Press,

BY the Associated Press.
o. P. A. officials will meet here
Tuesday with manufacturers of
waterproof rubber footwear to ne
gotiate an agreement on maximum
prices of new lines produced under
w. p. B. specifications.
Oncials said o. P. A. would ask
the producers to hold prices at
levels prevailing last December 8
on most items and to make reduc-
tions on some footwear from which
style features are being eliminated
to save rubber.
Negotiation Of the agreement will
be the first undertaken under
powers granted Price Administrator
Leon Henderson by the Emergency
Price -Contrd At - 49, =
Evening star., 1942-03-01
Expenses Reduce Net
Of Virginiun Railway
By the Associated Press.

By the Associ4ted Press.
NORFOLK, Va. Feb. 2s.-rn-
creased operating expenses resulted
In a considerable drop In the Vir-
ginian Railway Co.'S net income for
January, as compared with the cor
responding month of 1e41, accord
ing to the monthly statement issued
by the general accounting ONCE
here.
The road, meanwhile, enjoyed "a
material increase in total operating
revenue, which this January
amounted to s2,515,e50.52, as COM
pared with $2,3s7 ,866.65 last Janu-
uary, the operating expenses having
amounted to 1,190 ,s60.47 and $98b-
337.52, respectively. :
Net income for the month was
$53o, o,57507. q drop from 1881 ,11s 80
for January, l941.
Evening star., 1942-03-01
Lumber Output Dips
Slightly for Week
~ the Associated Press.

By the Associated Press.
The National Lumber Manufac-
turers Association reported that
lumber production for the week
ended February 81 stood at l49 per
cent OF the average Of the corre-
spending week 1e35-1s3s, and ship
ments 142 per cent.
Production totaled 223 ,s57 900 feet,
which was 2 per cent less than the
previous week, and per cent less
than the corresponding week year
ago.
Shipments aggregated Isl ,267 900
feet, which was 3 per cent less than
the previous week, and 8 per cent
greater than last years correspond
ing week.
Evening star., 1942-03-01
Synthetic Rubber Termed
Best Solution for j. :.

BUFFALO, N. Y, Feb. 28.-John
L. Collyer. president Of the B. F.
Goodrich Co., said today synthetic
rubper-not the guayule shrub or
Amazon trees-is the solution to the
Nations rubber problem.
1T would be four or five years
before we could get any rubber from
guayule," Collyer added in an inter-
view. "The most we could get from
wild rubber trees in the Amazon
would be $4,000 tons, compared
with 765,00o tons Of Far Eastern
rubber used last year"
Collyer, who advocated large
scale synthetic rubber production
two years ago, said Germany now
is moving on tires with rs per cent
synthetic rubber"
Evening star., 1942-03-01
Foreign Governments
Purchase U. S. Gold
By the Associated Press.

By the Associated Press.
Treasury statistics indicate sales
of more than 100000, 900 Of gold
to foreign governments In recent
months.
No exact figures have been made
public, but the total Treasury gold
stocks-which were $22,715 ,087 ,074
on February 25-now are about $85.-
900 900 less than they were early
in November. Sales must have been
substantially more than that amount,
since sales have been partially Of
ret by gold imports and purchases
Of domestically mined gold.
The gold sold to foreign govern
ments probably has been placed un-
der earnark In New York, mostly
for the account Of Latin American
governments. u
Evening star., 1942-03-01
BY the Associated Press.

6y the A8SoclAteo Fress.
NEW YORK, Feb. 28.--Tin As
pure as the Malay Peninsula virgin
tin now cut of by Japan can be OBJ
tanned from old cans through q new
process announced today by Walter
s. Smith, vice president Of the Metal
& Thermit Corp.
Tin has been recovered from cans
for 80 years, but the cans had to
have both ends cut out, the paper
removed and they had to be pressed
fiat. 1t looked like the patriotic
ladies were to be asked, now that
the war is on, to take over this job.
In the new process the whole can
Is taken, and the machines clean it
of everything and get it ready for
the defining process.
There Is a lot Of this tin availa-
BILE. About 2,5oo,000 tons Of cans
Evening star., 1942-03-01
BY BERNARD s. O'HARA,

Associated Press FINANCIAL Writer.
NEW YORK, Feb. 28.-The stock
market today managed to finish q
modest recovery week with prices
slanting trregularly higher.
Nothing particularly stimulating
was found In the war news and the
rule Of keeping commitments light
over a week end was accentuated by
the battle Of the Java Sea arid the
desire to await the outcome OF this
engagement, as well as other inter-
national developments.
Generally good earnings state
ments aided an assortment of ia
vorites, but there were exceptions.
There were a number of individual
situations where a fair amount of
strength and weakness prevailed.
The list got off to hesitant start.
Dealings were sluggish most Of the
time, although q few sizable blocks
helped expand the volume.
The Associated Press average OF so
stocks was up OIL of q point and on
the week showed a net advance of
o., the first improvement In three
weeks. Transfers totaled 234 ,460
shares, against 2l3,990 last Saturday.
Daily turnovers In the week never
topped 100000 shares.
Rubber Issues Aided.
Rubber company issues were aided
by the better-than-expected Good
rich profits report for 1s41. Rails
held their own while waiting the
freight rate boost decision.
Except for a handful of shares
both gains and losses were negligible.
or 5o5 issues traded, pit were up, l2l
down and 1877 unchanged.
Standard Brands was the liveliest
performer, dipping Il to record low
OF 3ls In the wake of omission of the
regular 10-cent dividend and a drop
In last years net from 1910.
Liggett & Myers "B" and REYNOLDS
B" slipped when Administrator
Henderson refused to permit q Lift
In cigarette prices.
United States Rubber preferred
was up flve points on small volume.
j. c. Penney and International
Harvester retained plus marks of a
point or so each. A trifle ahead
were United States Steel, Chrysler.
Great Northern, Goodrich. United
States Rubber common, Westing-
house. Standard Oil IN. j., West
ern Union and United Aircraft.
Santa Fe edged into new high
ground for 1941-42.
On the offside were Douglas Air
craft. Texas Co., General Motors,
Eastman Kodak, American Smelt-
ing and Owens Illinois.
Favored on Curb.
American Gas, Gulf Oil and Sher-
win Williams were favored in a
narrow curb. The aggregate here
was around 5000 shares versus
25,000 q week ago. - -
Conflicting war bulletins and the
desire to step carefully pending the
forthcoming tax program made for
xltm market during the week.
Technical factors, including the be-
lief the list was due for a rebound
after the lengthy decline-the Co.
stock average had dropped about
seven points since the first of the
year-heped To- revive prices Tues
day xfter the Washington s sbirthL
day holiday. There was a back down
Wednesday and steadier tendencies
Thursday and Friday. Some oils
rallied, despite further tanker sink
ings, and recently weak soft drink
company stocks took a turn on the
upside after having apparently dis
continued the sugar shortage.
Evening star., 1942-03-01

~
Thomas L. Hume; Edgsr B. Rouse,
Robert c. Jones & Co., and Millard
r. West, jr., Ferris, Exnicios & Co.
The committee is charged with
the responsibility of establishing the
public quotations furnished Wash
ington newspapers on the local Sc
curities which are traded in the
over-the counter market. At the
present time the committee fur
nisl1es quotations on so local issues
weekly in which there is very wide
interest.
Agent Wins Insurance Honors.
Thomas P. Morgan, jr., manager
OF the local office Of the Mutual Life
Insurance Co. Of New York, an
nounced yesterday that Robert
ooldstein ranked 2sth for the year
1941 among all the agents of the
company throughout the United
States. He also led the entire Wash
ington field force In yearly produc-
Cion.
Mr.. Goldstein Is a graduate of
the University. of Virginia and an
inter collegiate boxing champion. At
the present time he is head boxing
coach at the University Of Mary
land.
Fidelity Reports Good Year.
George &. Hates, manager of the
Warrington office of the Fidelity
Mutual Life Insurance Co., re-
ported yesterday that the company's
insurance in force at the end Of 1941
reached $685., $40, 1892. Assets were in
creased to s142,252 800 and a sub
stantial sum was added to surplus.
Trading on D. C. Exchange
On the Washington stock Ex-
change yesterday. Mergenthaler
Linotype sold ct 1914, a new high
mark for many sessions. and Wash
ington Loan e. Trust stock Ikoved
At 212, unchanged.
Securities registered at the Sc
curities and Exchange Commission
in January aggregated s225, I'll 900
This was double the volume of the
preceding month.
Evening star., 1942-03-01
Higher Parity Brings
Further Climb in
Cotton Futures
New York Market Up
30 to 40 Cents q
BuIe at Close
By the Associated Press.

By the Associated Press.
NEW YORK, Feb. 28.-Cotton fu-
lures prices today recorded their
third successive advance on buying
based In part on a rise in the parity
price as Of mid-February. Closing
gains ranged from 80 to 40 cents a
bale.
A considerable part of the demand
for contracts came from profess
sional operators and the trade. The
advance was held to small headway
by further hedge selling against pur
chases OF c.: c. c. cotton.
Mil buying reflected recent Gov
eminent awards for cotton textiles
Evening star., 1942-03-01
New Process Extracts Pure Tin
From Old Cans for War Needs
Metal & Thermit Corp. Develops Speedy
Method to Reclaim Vast Supplies

are discarded annually in the United
States. Nearly half come from areas
where the garbage collector can
easily turn them over to be used
under the new process.
Present American detinning
plants have a capacity for only
100, 900 tons of cans. The new pro-
cess was developed In five years ex-
periments, in San Francisco, where
a pilot plant, taking the San Fran
cisco and Oakland garbage source
cans, handles 5000 tons q year.
Under the process. the announce
ment says, a ton Of discarded cans
will yield about "A pounds Of tin
and nearly a ton OF useful scrap
steel. It is estimated that the avail
able cans would yield 1000 tons of
steel yearly.
Evening star., 1942-03-01
Canadian War Bond Sales
Rise TO S506,272,150

OTTAWA, Feb. 28 canadian
Press The cumulative total Of
subscriptions to the second $500, ,000,-
900 victory loan reached $500, ,272, $50
last night at the close Of lightest
day of business during the three
week campaign which started Feb
ruary 16, Victory loan headquarters
Announced today.
Subscriptions yesterday totaled
t38, 140 300.
Evening star., 1942-03-01
Wheat and Oats Ease,
Corn, Soybeans and
Rye Advance
Chicago Grain Prices
Follow Irregular
Trend at Close
BY FRANKLIN MULLIN,
Assoeiated Press Market Editor

CHICAGO, Feb. 2S.-Wheat and
oats prices lost fractions today, due
to small profit taking and selling
to adjust accounts, but corn, rye
and soybeans pushed higher on the
strength Of professional purchases to
cover previous short sales and buy
ing attributed to professors, shippers
and elevators.
Corn and rye were almost a cent
higher at one stage, while soybeans
showed gains of more than a cent
Wheat was up fractionally early in
the day, but later sagged as much as
"a cent from the high and closed
hs-ss lower than yesterday, May
$129h-12s, July $13o3s. Corn
finished M higher, May 861s-S7,
July 89-S9h; oats unchanged to
4 of; rye, Ma higher; soybeans
h-h higher: lard unchanged to 2
higher.
Compared with . week ago grains
were fractions to q cent q bushel
lower, while soybeans were on 2 to 3
| cents.
Transactions Small.
Traders said relatively minor
transactions were sufficient to deter
mine price trends in view of the
markets sluggiShness, which they
blamed largely on extreme caution
of dealers because of the controversy
between the farm bloc in Congress
and the administration regarding
handling Of Government owned
ever-normal granary wheat and
corn.
Vitally affecting particularly these
two cereals, this dispute has been
going on ever since passage Of the
price-control bill, when it became
apparent that the ever-normal
granary agency, the Commodity
Credit Corp. would continue to
offer grain for sale At prices several
cents below parity. Grain men said
these sales had the effect of check
ing market advances above these
levels, although the price-control bill
provided actual ceilings imposed on
grain could not be less than ITO per
cent of parity.
A Senate bill sent to the House
this week prohibiting sale OF Gov
ernment grain at pricesfbelow parity
aroused the controversy and
Washington report about the time
the market closed indicated that a
farm bloc committee will call on the
President in an attempt to reach an
agreement. The President vigorously
opposed this legislation In two state
ments during the week.
Increased Demand Cited.
Fundamental factors affecting
cora and Soybeans, including heavy
feeding requirements and expanded
industrial demand for corn and bean
products. formed . bullish back
ground in those pits. Some buying
in the corn. and oats pits reflected
lifting Of hedges on $4,000 bushels
Of corn and 1000 oats to be shipped
from Chicags. However, spot corn
prices were steady to u cent lower,
with No. q yellow quoted at 84A, or
4 over the c. c. c. asking price for
March shipment.
Lard trade was virtually at
standstill, with prices near ceiling
levels.
Grain range at principal markets
today:
Evening star., 1942-03-01
General Foods Unit
Orders Wage Bonus
~ tia Assor,.tsd Dram

By the Associated Press.
BATTLE CREEK, Mich, Feb. 28.
Post products division Of General
Foods Corp. announced today that
all employees have been granted an
extra 1s41 compensation payment Of
per cent Of their wages for the
year.
The 3 per cent. based upon the
corporations yearly proflts, is the
same as in 1940
More than 100 employees here and
in other cities will share the wage
bonus.
Evening star., 1942-03-01
Pay Increase Granted
By Endicott Johnson
Nv the Associated Press,

By the Associated Press.
BINGHAMTON, N. Y, Feb. 2s.-
Endicott johnson Corp, shoe manu-
facturers, announced today a 10 per
cent wage increase, estimated at
about $4,000, 900 annually, for its
10000 employees. 1t becomes ef-
fective Monday.
The concern has increased wages
Is per cent since November, 1910,
boosting the annual payroll to more
than 81 ,000, 900. It has plants in
Binshamton, Johnson City, Endi-
eott and 0Weso. - a. =
Evening star., 1942-03-01

NeeS, partner OF
Johnston, Lem
on & Co., as
chairman of the
L oc al Quota
tions Committee
for the District
Of Columbia. it
was announced
yesterday. Other
members of the
committee also
reappointed are:
Thorn as L.
Anglin, Mackall
g. Coe; Charles
W. Hume, Asso-
Evening star., 1942-03-01
February Stock Sales Hit
Low Since August, 1910
By the Associated Press.

NEW YORK, Feb. 2S.-Stock
transactions in the New York Stock
Exchange in February totaled 1895
4Ss shares, the smallest monthly
volume since August, 1910, when the
total was 7,614,850 shares.
In January dealings were 12,993, :
665 shares and In February last
year 8,o69,195 shares.
Bond transactions in February
were $158, 786, 800 face value, COM
pared with $219, 9,955 900 the previous
month and $123, ,647 900 in the same
month last year.
Evening star., 1942-03-01

Cash wheat. prices were steady to "
cent lower today; basis, steady; receipts.
90 cars.
Corn. irregular: basis. steady to u
lever. reeeipts 1s2 cars; shipping sales,
ss; 600 bushels; bGohinss' 1000 bushels l.,
43 cars; shipping sales. 10000 bushels.
Quotations: Wheat. No. 4 red, 20,
.. Corn; No. q mixed, s6: No s, yellow
r. 70: No. White. se; No: 4, 2sls." 'n''.'
Oats. No. mixed. s7A: No. mixed
6S-58ls; No. l special red heavy, 57a. :,
Field seed per hundredwtisht, nominal:
Timothy c6 seed AZ 1913; Asiks; Iks, 1ssSSoo. sSSo
1900; sweet clover, 6.50-e.00.
Evening star., 1942-03-01

success IN push
ing the sale Of
Defense b on d s
and ia m p S.
Sales by WASH
ington under
writer's in the
first two months
Of this ear
totaled $50, ,676,
he said.
In the group
OF Capital work
ers, he added, Is
members h av e
volunteered to
devote part Of
Evening star., 1942-03-01

The cottonseed oil futures market was
levels were withdrawn. Crude oil markets
were UNCHANGED at ceiling prices bid in
the Southeast and Valley. 12ss cents Q
pound. and Texas. 12Ia cents.
Evening star., 1942-03-01
CatfonSeed Oil

q bIU. II lNUIII AIIHIs
Spot nominal; middling, 1894.
Evening star., 1942-03-01
Stocks Extend
Week S Rise in
Dull Session
Uneven Coins Scored
Despite Lack Of
Stimulating News

WHAT STOCKS DID
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-30
Demaref-Smead Final
I'm PGA Sighted
CONTINUED from FIRST Sport Pagel

he says he positively will. The
guy IS fairly burning with zeal ali
OF a sudden. Otherwise he would
he regarded as a setup for Snead.
In their only previous meeting,
Demaret beat Snead q and 3 for
the San Francisco match play
in 1888.
Snead beat big Ed Dudley 20
earn this chance at Demaret for
IA place in the finals, but didn't do
Iit too convincingly. The margin
was ] up and il was Just about
that close all the way, with Dud-
ley missing a great chance "a
square the encounter on the
lthirty-sixth when Snead sliced his
tee shot into the woods and bud.
ley hit his down the middle but
landed IL on wandering spec
itator's skull, with the result that
the ball bounced off among tho
trees and he halved the hole for a
defeat.
Nelson and Turnesa have never
met before. but the Tournament
favorite might as well be warned