davidaulloa/AmericanStories huggingface dataset:
Evening star., 1942-03-29

For each additional $40 CT Ii.
ton thereof cents per share will
be charged; commissions on rights
will be the same as for stocks; on
fractional shares one-half of the
regular commission will be charged.
The minimum charge Of transac-
tons amounting to $40 and under
$50 will be per cent of amount, or
81, whichever is higher; $50 and
tnder 500, SO; 500 and above, IS.
Loan League Meeting Tuesday.
Members of the District Building
and Loan League will hold the
March meeting Tuesday at the
Raleigh Hotel. Special interest Is
being manifested in the question Of
changing hours on Government pay
days. Full plans for the coming
Atlanta conference also will be pre-
sented.
Potomac Electric Power 51a per
cent preferred stock sold at 113 on
the Washington Stock Exchange
yesterday. Bid and asked prices on
other issues showed few changes.
The management proxy of the
Chesapeake e. Ohio Railway calls
f. the election of five new directors
et the annual meeting, including
William H. Lirscomb. Washington
real estate operator.
Evening star., 1942-03-29
Cotton Futures Up
5 10 75Cents in
Fresh Advance
Large Mill Contracts
And Southern Spot
Demand Cited
Ay the Associated preSs.

By the Associated Press.
NEW YORK, March 2s.-Cotton
futures gained today for the sew
enth consecutive session as mills
took on additional contracts against
large orders booked recently for
cloth and other basic fabrics.
Closing gains ranged from IS to
Is cents a bale, representing the
days highs and the best for the
March advance.
Professional and general demand
was motivated again by reports of
q large business in gray goods yes
terday. Another factor was a report
OF rising demand for spot cotton in
the South to cover Government
contracts.
Market observers suggested that
hedge selling against purchases of
Commodity Credit Corp. cotton had
about run its course, but some buy
ers displayed caution on the posi-
bility that contracts at present
levels might be nullified by later
price fixing by the o. P. A.
The range:
Evening star., 1942-03-29
Stocks Hesitant
After Uneven|y
Lower Week
Some Recently Weak
Blue Chips Register
Feeble Recoveries
BY BERNARD s. O'HARA,
Associated Press Financial Writer.

BY BERNARD s. O'HARA,
Associated Press Financial Writer.
NEW YORK, March 28.-Some
recently weak blue chips made feeble
stabs at recovery in today's stock
market, but the list generally fin-
ished an irregularly lower week
without a definite trend.
A little short covering In high
priced stocks that have taken quite
a beating lately provided props for
most groups, although speculative
and investment demand was too
small to touch of many real recov-
cries. Variations mainly were in
fractions at the start and the clos
ing direction remained cloudy.
AS usual at the week end, board
rooms were pretty well deserted and
those who put in an appearance
discovered scant inspiration in the
news of war, taxes, business, labor
and politics. The result was that
commitments either way were ex-
ceptionally light.
Slowest Since August.
The days turnover of 131, $50
shares was the lowest since last Au-
gust 16 and compared with 160, 800
the previous Saturday. The ASso-
ciated Press average Of so stocks was
unchanged at 344, but on the week
was of 0.3.
Among the better performers,
Zenith Radio was up a point at
1l7s, new high for 1912. On the
other hand, j. I. Case and Union
Carbide slipped Il each to new lows
for the year. American Telephone,
which Friday hit new bottom since
1898. recovered % OF a point.
Gamers included General Mo-
tors, Chrysler, Montgomery Ward,
Youngstown Sheet, Santa Fe, Penn
sylvania, Western Union, Air Reduc.
ton. International Harvester. United
Aircraft. Westinghouse, U. 8. Gyp-
sum and Texas Co.
A shade down were New York
Central. Great Northern, U. S. Rub
Der, Anaconda, ns-Manville,
Standard Oil New Jersey. Ameri-
can Can. General Electric, Du Pont
and J. C. Penney.
Improve on Curb.
In q restricted curb, advances
were registered for Humble Oil,
American Cyanamid, Bell Aircraft
and Brewster Aero. Unchanged to
easier were American Gas, Gulf OIL
and Glen Alden Coal. The aggre-
gate here was about 10000 shares
versus $4,000 a week ago.
Belief the market was a bit over
sold helped the big board to come
back Monday, although buying was
meager. Heavy purchasing Of sec
ondary rail bonds bolstered the stock
division Tuesday
Demand for shares waned We'd
nesday and the averages dipped. Re
newed fears for dividends because of
mounting operating costs reduced
prices Thursday.
The Burma crisis and further
liquidation Of blue chips brought
additional declines Friday.
Evening star., 1942-03-29
War Risk Rate Cut Sharply
On AusfraIasian Trade

By the Associated Press.
NEW YORK, March 28.-Marine
insurance underwriters announced
today q reduction in the war risk
rate on cargo shipments between
Pacific Coast ports and Australasia
to per cent Of cargo value from
Q per cent.
Marine circles said the action
marked an important deviation from
the steadily rising trend of war in
surance rates since the United
States became involved in the war.
Coincident with the rate cut,
Frank J. Knell, president Of the
wool associates of the New York
Cotton Exchange, disclosed that the
ceiling price on wool top futures
had been reduced to $1.39 q pound
from $1.41. Australia Is the major
source Of natural wool and wool tops
are Q semi-manufactured form Of
this staple. /
Evening star., 1942-03-29
Federal Price Boost
Surprises Chicago
Butter Market
Buying Agency Lifts
Spot Bids as Much
As Z Cents q Pound
BY the Associated Press.


CHICAGO, March 28.-In . sur
prise move, the Dairy Products
Market Association, Government
financed cooperative. today raised
prices paid for butter in the Chicago
spot market.
As a result oficial quotations were
hoisted "A to l% cents . pound to
the best level since last November.
Butter grading extras sold at IS
cents a pound, up l% cents over
yesterdays price.
Mercantile exchange traders said
new D. P. M. A. paying prices were
raised as much as cents q pound
in some cases over recent purchase
levels. The agency, which has been
purchasing butter in various mar
kets for some time, ostenSibly for
price-supporting purposes to check
the normal seasonal decline that
occurs as the period OF flush produc-
ton gets under way, bought 76,800
pounds here today.
D. P. M. A. would not comment on
the price rise, but mercantile ex-
change traders expressed belief 1t
might have been made In order to
stimulate dairy products production
to enable the country to achieve its
huge 1912 wartime goal.
A decline earlier in the year Of
more than 3 cents pound from
the butter price peaks reached in
1941, traders said, may have dis
turbed milk and butter production,
inasmuch as farmers have advanc-
ing feed and labor costs to meet.
Milk production has been running
below the 8 per cent increase sought
for 1912 under the 1912 goal, al
though the output last month was
about 4 per cent greater than a
year ago.
Evening star., 1942-03-29
Steel Production Record
For February Revealed
By the Associated Press.

By the Associated Press.
NEW YORK, March 28-The steel
industry produced record quantity
of 734,656 net tons of steel plates IN
February to meet war demands. the
American Iron and Steel Institute
reported today, an increase OF nearly
rs per cent over the total for Feb
ruary Of last year.
The January output was 1882
tons.
The institute said the higher pro-
duction rate was made possible In
part by changes Of large continuous
strip mills to the heavier plates.
These changes were reflected In 8
drop to 995,414 net tons in Feb
ruary sheet and strip output, against
1,343 ,266 tons a year ago. The Janu-
ary sheet and strip total was l,l62,-
304 tons. The sheet and strip for
merly was used for autos, refrigera-
tors and other peacetime products.
Evening star., 1942-03-29
First Lakes Ore Ship Reaches
Cleveland to Set New Record
Opening Of Season to Speed Arms Drive
Cuts II Days From Previous Mark

Last year the earliest Cleveland
arrival was April Q. q record up to
that time, vessel men said.
The ore fleet of around 800
freighters moved more than 80 000,-
900 tons Of the mineral from Mime
sofa and Michigan mines to the
lower lakes mills in l94l.
The reverse movement Of coal
from Lake Erie and Lake Michigan
ports to northern points-got under
way last week. Many OF the freight
ers carry coal northward and ore
southwark, while others travel light
on the northbound trip to save
time. Coal shipments on the Great
Lakes last year totaled $1,000, 900 net
tons.
Captained by Raymond Hayward
Of Detroit, the Sheadle brought a
cargo consigned to q nothern Ohio
mill Of Republican Steel Corp.
Evening star., 1942-03-29
BY the Associated Press.

6y ING hbSOCiuSu EICsb.
CLEVELAND, March 28. - The
years first water shipment Of iron
ore reached Cleveland today to cut
IL days OF the earliest previous rec
ord for Great Lakes movement of
the precious dirt that is the back
bone Of Americas armament.
The 10000 ton capacity bulk
freighter j. H. Sheadle steamed into
port with a cargo from Escaraba,
Mich. Coast Guard icebreakers
helped clear part Of the way for the
Sheadle and other boats of the
Cleveland Cliffs Iron Co., which ira
ditionally inaugurate the season.
All winter the Great Lakes are 20
ice-locked that lower lakes steel
mills must depend upon their stock
piles, together with minor move
ments by rail, to feed their blast
furnaces.
Evening star., 1942-03-29
Yellow Truck Reports
S3.01 a Share Net
For Last Year
Result Contrasts With
$l.60 q Share Earned
During l940

By the Associated Press.
NEW YORK, March 28.-Yellow
Truck & Coach Manufacturing Co.
reported today le4l net earnings Of
10029 $40, equal to $3ol share on
the combined class B" and common
stocks. This compared with $5,S13,-
976, or 81 so q share on the-eombined
stocks, in 1910. go.
Borg-warner Corp.
The Borg Warner Corp. reported
1s4l net profit of s7,475.o .o49. equal to
1920 a share, against $3.50 1852, or
s2.88 a share. in 1910. The company
makes refrigerators and equipment
for the automotive and other In
dustrieS. e.:
Masonite Corp.
Masonite Corp. reported net profit
for the second quarter, ending
March IA, totaled 1928 1858. equal to
81 cents a common share. compared
with $302,236, or So cents, the cor
responding period the previous
fiscal year.
C0lumD1a u. q T..
Columbia Gas Electric Corp. re-
ported 1941 consolidated net income
Of $3,981 ,6o2, equal to 50 cents
share of common stock. compared
with 1910 net income Of $6,38o.8l5,
or So cents a share.
The company. reporting its oper-
ating subsidiaries last year sold 9.3
per cent more gas and 179 per
cent more electric energy than In
1910, said these increases raised
receipts for the year to the record
breaking total Of $ll9.598,247, as
compared with 500 ,998, ,017 the
previous year.
Total tax accruals, the company
said. reached . new level OF $25,-
514,727 during 1e4l, thus dropping
the gross corporate income of the
subsidiaries from s24,6S9.235 In 1910
to 22,009.173 in 194l.
b., n. & E. Power.
The Buffalo, Niagara g. Eastern
Power Corp. and subsidiary COM
panies reported 1941 consolidated
net income OF s7,648, ,726, compared
with $7945 934 in 1910.
Other Reports Given.
Other earnings reports issued dur
ing the week. showing profits per
share OF common stock, included:
Evening star., 1942-03-29
Steel Record Helps 10 Lift
4. P, Industrial Index

NEW YORK, March 20. - Steel
ingot production. setting another
weekly record, helped lift the Asso-
ciated Press index Of industrial ac-
tivity to 1867 per cent Of the 1880
average today from 145 6 a week ago
A year ago 1t stood at 1866.
Another factor behind this weeks
rise was electric power production.
which continued at last weeks level
despite drop that normally occurs
at this time of year.
Railway freight carloadings, drop
ping from a week ago in a contra
seasonal downturn attributed to a
falling of In shipments Of coal and
grains, failed to counterbalance the
rise In the other factors.
Components. adjusted for normal
seasonal variations, compared as
follows:
Evening star., 1942-03-29
Further Drop Seen
In Tire Shipments

NEW YORK. March 28-Ship-
ments of automotive pneumatic cas-
ings during February decreased 94
per cent below January. according
to the Rubber Manufacturers As
sociation. February shipments, l.
1880 units, were 772 per cent be-
low the same 1941 month.
Production. 1,112.907 units. was
1877 per cent below January and
1874 per cent below February. l94l.
Stocks of automotive castings in
the hands of manufacturers Feb
ruary % were slightly above the
January 81 stocks of 1852. 702 units.
February 28, 1912, stocks were. how
ever, 546 per cent below the TO-
028803 units on hand February %,
1941.
Evening star., 1942-03-29
Wheat Rally Cancels
Losses Suffered
Earlier in Week
Prices Soar z Cents
A BusheI Ahead Of
Days Lows
BY FRANKLIN MULLN,
Associated Press Market writer.

CHICAGO, March 2S-Showing
much more strength than In any
recent session, wheat prices today
rallied Z cents q bushel from early
lows, wiping out losses suffered
earlier in the week.
Similar gains were scored In the
rye pit while soybeans were up al
most 5 cents at one stage and corn
and oats rose fractions to about =
cent.
The rally was unexpected and
quick. Traders said the rapidity OF
the upturn, matching speedy drops
that have occurred on several oc-
casions recently, betrayed the thin
character Of the market, making
prices easily susceptible to compara-
lively few orders. Week end short
covering accelerated the advance
once 1t got under way.
Mill Buyers Active.
Traders said some OF the buying
came from consuming interests, in
cluding mills who entered the mar
ket at the first sign Of strength.
Revival Of imitation talk, based part
ly on the statement Of price ad-
ministration oflcial that prices are
going up at q dangerous pace, also
was credited for the advance. Re-
ports of deterioration Of soybeans IN
country storage attracted attention.
Wheat closed l-l& cents higher
than yesterday. May s1-26,4-H, July
$1.z8a-M: corn as-% up, May So
ssh, July s0h-h; oats ~ up;
soybeans 3h-4A higher; rye IN
~ up, and lard unchanged at CELL
ings.
Traders said the markets sudden
show of strength may have stimu-
lated some mill buying Of wheat or
some -four business but there was
no indication that any large scale
trade had been put through. The
reduced volume of wheat coming on
the market after redemption Of loans
by producers has been particularly
noticeable In primary terminal re-
ceipts since last weeks price decline
and traders said this may have been
. factor In improved demand.
Corn Follows Hogs.
The fact that hogs are at 10
wear high, with lend-lease pork pur-
chases during the week totaling 36.-
324, ,7s4 pounds, largest since the pro-
gram was inaugurated year ago.
was the principal bullish factor IN
corn. This included 9,150, ,3A pounds
Of lard.
The corn markets fundamental
strength enabled it to continue to
absorb hedging sales against corn
bought to arrive here from country
points. Purchases to arrive amount
ed to $4,000 bushels, putting the
weeks total above 600, 900 bushels.
Traders said the increased volume
of country sales reflected pre-plant-
ing movement and country response
to attractive bids from commercial
interests who are grinding corn at
a record rate to meet wartime needs.
Grain range at principal markets
today:
Evening star., 1942-03-29
By the Associated Press.

By the Associated Press.
NEW YORK, March 18.-Cotton
textile sales picked up this week
with the advancing price Of raw
cotton, and traders estimated that
20 600, 900 yards Of cloth changed
hands Friday.
The bulk Of the business held
priority ratings, traders said. In
cluded In the transactions were sales
of print cloths to cover Government
orders for shorts and comforter
covers. Volume orders also were
placed for coarse yarn goods by the
industrial and bag trade. Delivery
dates ranged as far ahead as Sep
tember.
There were reports some cotton
goods mills had been asked to turn
100 per cent to Government pro-
duction. Another development in
the industry was Q W. P. B. order
si.,s'as S1s.sas.. the use Of chlorine Tor
Evening star., 1942-03-29
Fully 55 Per Cent of Autos
Are Less Than 5 Years Old

July /, l94l. Since that time more
than 1,000, 900 new passenger cars
have been placed in service and an
other $4,000 are under ration by
the United States Government All
this increases the Nations private
transportation pool.
During 194l Chevrolet passed
Ford to take first place with the
most passenger cars in service. As
of July there were 7,ol7,237 Chev-
rolets on the road, or 25.3 per cent
Of the national total. Ford was
next with 6,sl4,386, or 246 per cent
Of the total. Plymouth ranks third
with 3,328,477, or II per cent"
The survey pl9ced other makes In
this order: Buick, Dodge, Pontiac,
Oldsmobile. Chrysler, stYdebaker
Packard, Nash. De eotA HbASon.
Evening star., 1942-03-29
By the Associated Press.


DETROIT, March 2S.-Ihe trade
publication Automotive and Avia-
tian Industries, in It's 24th annual
statistical issue, asserts that Of the
27,7O0,01l passenger cars in use in
the United States fully S. per cent
are less than five years old. 1t ap-
pears from these figures, says the
publication, that the Nation is well
provided with up-to-date private
transportation. even though pro-
duction of motorcars has been dis
continued"
1t is pointed out, at the same time,
that continued use Of the vehicles
is dependent upon the life Of their
tires and the availability Of fuel and
replacement parts.
Continuing, the review says:
The figures are compiled ~ It
Evening star., 1942-03-29

other members OF the committee
are Robert L. Flather, assistant
secretary. American Security &
Trust Co.: j. Fontaine Hall, trust
officer. National Savings & Trust
Co.; F. E. Hildebrand, vice presi-
dent, National Metropolitan; Eliot
H. Thomson. publicity manager,
Washington Loan & Trust Co.;
Richard A. Berwick, Times Herald;
Thomas NJ Cahill, Washington Post;
and Edward C. Stone, Evening Star.
New Exchange Rates Ready.
George M. Ferris, president of the
Washington Stock Exchange, an
nounced yesterday that the new
commission rates will go into effect
next Wednesday, April l. The ad-
vances are moderate, are forced on
the exchange because Of the higher
costs of doing business, and are in
line with similar action taken by
the New York and Chicago ex-
changes, as we'll as by nearly all the
smaller exchanges in the United
States. The new commission charges
follow:
Evening star., 1942-03-29
D. 6. Bank Receiver
Will Close Offices

Ofnces Of the receiver of the Park
Savings Bank and Of the North
Capitol Savings Bank, tn the Riggs
National Bank Building at Four
teenth street and Park road NV,
will be closed permanently next
Tuesday. March 81. John F. Moran,
the receiver, announced yesterday.
After that date. all undelivered
checks will be turned over to the
Once Of the Controller Of the Cur
rency, Division Of Insolvent Banks.
In the Washington Building. where
claimants may receive dividends due
them.
Final dividends are now being
paid by both closed banks and
hundreds Of these checks have not
yet been called for by depositors.
Evening star., 1942-03-29
W. P. B. Orders Curb
On Outboord Motors
BY the Associated Press.

BY the Associated Press.
Production of outboard motors,
except to fill defense orders, has
been prohibited BY the War Pro-
duction Board.
w. P. B. also has frozen all manu-
facturers' stocks Of motors Of six
horsepower and over, permitting de-
livery only Of those actually In
transit at the close of business
Friday.
The freeze order does not apply
to motors under six horsepower in
manufacturers hands nor to mo-
tors of any size held by distributors
and dealers.
Evening star., 1942-03-29
California Job Total
Far Above Year Ago
apeeiAl Dispatch TO me Star.

Specl2I D1Sp1tch 70 Ine St1r
SAN FRANCISCO, March 28.-
The number Of workers In Califor-
MIA factories during January showed
no appreciable change from the
preceding month, says the Business
Outlook of the Wells Fargo Bank.
but was 48 per cent above January,
l94l. AS compared with the same
month a year ago, January average
weekly earnings were up 81 per cent
and total weekly payrolls were up
SO per cent.
Evening star., 1942-03-29
Lower Net Reported
By Maine Central
By the Associated Press.

BY the ASS0clated Pre6s.
PORTLAND, Me, March 26.-A
February net income Of $50 ,22o5
after fixed charges, as compared
with $143,238.95 in that month last
year, was reported by the Maine
Central Railroad, which said that,
even though operating revenues in
creased 15.47 per cent in the COM
parable period. expenses climbed
24.62 per cent.
Operating revenue totaled $l,378,-
238 last month and $1.193 ,633 In
February, 19ll. Operating revenues
were 5000, 900 and $77o,397 in the
respective periods.
Evening star., 1942-03-29
Curtis Dividend Voted

PHILADELPHIA, March % R.-
Curtis Publishing Co. has declared
q contingent dividend Of 10.1S6 cents
a share on It's prior preferred stock,
payable April % to shareholders Of
record as of April 8. The regular
50 dividend on the shares already
has been paid.
Evening star., 1942-03-29
Output Of Distilled
Spirits CurtuiIed
BY the Associated Press.

BY the Associated Press.
The Treasury reports production
of distilled spirits dropped. probably
due to conversion to war work. to
IL, ,902 933 tax gallons in February.
In the similar month last year out
put was l5,124,619 gallons.
Stocks of spirits, however, totaled
577,139,659 gallons, or about 4l,000,-
900 more than a year ago.
Evening star., 1942-03-29

~ SoAASkiO o1 oAlC
Riggs National
Bank, as chair
of the Publicity
Committee for
the 1912 con-
vention which
Is to take place
at the Columbia
Country Club
May Is, 26 and
~.
Julius E. Lob,
vice president Of
Second National
B a n k, W a S
n a m e d vice
chairman, The
Evening star., 1942-03-29
gent as those OF the building supply

gent as those OF the building supply
companies.
In view Of higher labor and ma
terial costs, price ceilings on their
products and declining volume IN
many lines, almost no company in
the group will be able to increase
operating profits enough to Offset
the coming advance In taxes.
In Q number Of cases, however,
particularly among companies ca
tering to heavy construction and
those able to adapt their plants to
armament manufacture earnings
after taxes will hold UP at least as
well - for industry se1erslly.
Evening star., 1942-03-29
$500 q Share Earned
By Union Premier
By the Associated Press.

PHILADELPHIA, March 2s-
Union Premier Food Stores. Inc,
today announced 194l net income
of s82S, ,1S9. equal to 500 a share on
common stock. as compared to a
net income of $658,656, equal to
$1.76 a share on common stock, for
1910. The firm operates q chain Of
"super-market" type Of food stores
under the name Food Fair in Penn
sylvania. New Jersey, Maryland and
Delaware.