davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Dow-Jones Bonds
Federal Spending Tops
I Billions During March

NEW YORK, April "a Reflect
ing higher income taxes, receipts
by the federal government rose to
new high monthly record of S.
zoe, 100000 in March from S3,547,-
100000 in the same month last
year, according TO the Alexander
Hamilton Institute.
Despite this increase. receipts
this year were not sufficient TO
meet expenditures, which also
reached a new record high. Ex-
pendtureS in March amounted TO
S7354, 000,000 as against $3,436,-
0OO, 900 a year ago.
After allowing for trust account
expenditures and debt retirement,
the deficit in March this year was
81 696, 5000 Part Of this deficit
was met by Withdrawing funds
from the treasury while part was
met by borrowing.
This borrowing increased the
total direct debt to a new high
record OF Sis, 507, 100000 The di-
rect and indirect debt combined
amounted to S1l9,S67, 100000 at
the end of March as against $685.
100000 a year ago
Federal expenditures during the
first nine months Of the current
fiscal year, which began July /,
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Rail Seeks TO PAY
RFC Debt in Full

CHICAGO. April "a Attorneys
for Chicago & North Western
Railway Co. today had served
notices on parties to the roads re-
proceedings, that they
Will seek a court order here next
Tuesday TO pay off notes held by
RFC amounting to S42, 200, 900.
plus Sc, 100000 in interest, or as an
alternative. a directive to inter-
alternative. directive 10 Inter-
state Commerce Commission to
consider a modification on the
proceedings 10 permit clearing of
the Indebtedness.
Under ices reorganization plan,
approved in federal court here in
1889, RFC debt would be paid off
in securities of reorganlzed road
rather than in cash. II
The order SchcdUed for filing
next week will prtempt 10 liqui-
date the RFC/debt in full thus.
releasing securities which would
otherwise be taken over by RFC
reorganization plan Supreme court
earlier this week refused TO grant
writ of certiorari in North West
ern case under which roads inn
proved cash position would have
been taken into account in work
ing out a new reorganization
ccbpO,p
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Hutterine Fingers

y. A. worth Is still
chuckling over the problem
which arose when ne put two
deaf mutes working side by side
on an inspection Job.
One OF the men came into
Woody's office and the big boss
wrote out a note:
do you like your Job here ."
He tore a sheet off the pad
and passed il across the table
Back came the answer
yes, very much"
Woodwork tore off another
sheet and scrubbed.
Amy changes you'd like 20
zee made ."
And back came this aStound.
ing answer;
yes, please move that fellow
next To me his constant talking
gets on my merry e..
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
S1O4,O34 Profit
By Univ. Cooler

Universal Cooler Corp. for the
six months ended March 81, re-
ports a net profit, of S104,034 after
provision for federal income and
excess profits tax, equal after divi-
dend requirement on Class A con-
vertible participating stock 10 II
cents a share on BOG 1856 shares of
Class b stock.
This compares with net profit
of S27,722 in tho like period last
year. equal to y cents A share on
10l.07S shares of Class A stock.
Net profit for the quarter ended
March 81 was So 1874 or Il cents
per Class b share after Class A
dividend requirements, compared
with profit of S23,S7s or "a cents
per Glass A share in the CORE
spending period last year
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Personal Notes

short stuff: Bad March
weather left the fruit crop out
look eloudcd a.. ice cream manu-
facturerS in the Middle West are
switching much of their faCili-
ties 10 frozen foods and fruits
"a severe shortage at lumber
Il already faced and the situa-
ton is expected 10 grow worse
instead of better Washing
ton experts deny that nation
wide milk rationing will be
attempted. but admit that IL
may be applied in certain loeali-
ties +. The agriculture depart
ment is actually experimenting
with the quill from chicken
feather as a potential source Of
protein ShiPbuilder Kaiser
described his postwar plans in
an off-the-record talk To the
American Bankers Association
and DetrOiters present were
plenty impressed.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Bankers TO Mackinac

G. Sherman Collins. president
Of the Michigan Bankers Asso-
citation. has officially and def
nitely decided that the annual
convention will be held on Mack
mac Island. June 1926. at the
Grand Hotel.
A poll Of the members showed
that II per cent favored the
continuation of the event and of
these. AZ per cent favored the
island, al per cent Detroit and
II per cent were for Lansing.
II was felt that Mackinac was
the logical choice over Detroit
because hotels here are already
overcrowded and transportation
facilities into this city almost
overtaXed.
Despite the presidents an
nouncement, some bankers here
still doubt that the convention
will be held.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
On the
Business
Front
Bv WARD SCHULZ
Financial Editor

Consohdatcd-Nultce Aircraft
Corp. maker Of tho famous B-2i
Llberator which ~ also turned
out here by Ford has announced
that plans an, under way Tor
successor lonC range bomber
which will on, perform "thc old
reliable B-2i
In making the announcement
President Harry WoodhCad said
that the tvo Consolidated plants
arc now turning ont 70 per cent
Of al the LIbcrator> built There
are three other contractors this
includes Ford IN 4 KIN g that
plane now, ne added
Woo6hcai said that Con>oh-
dated * turning out the B-2i $
al the worlds lowest price tor
this type of plane owing 10 re-
duoed nan-houIS and other CT
fiClenClCS
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Trade Registers
Moderate Gain

Retail trade in the Detroit area
last week made a moderate gain
over the preceding week despite
unfavorable shopping weather on
Monday. Compared with the week
preceding Easter last year, sales
ranged in individual units report
ing from about even 10 gains of
20 TO 25 per cent, says Dun e
BradStreet.
Department store gains over
the previous week varied from
to ID per cent and up TO 30 per
cent above the Easter week of
1912 Speciality stores made SINH
lar increases over last week and
slightly larger margins above last
year. Practically all types of sea-
sonai merchandise moved we'll
with accessories predominating.
Male apparel and clothing stores
reported furnishings most active,
but clothing was also in good de-
mand, with dollar volume exceed
ing the last days before Easter
year ago by a small margin.
Inability TO obtain adequate stocks
of merchandise OF high quality has
undoubtedly reduced volume.
Wholesalers report increasing
difficulty in replacing stocks. but
delivery Of soft goods has con-
tInued to exceed year ago.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
New York Cotton

quarter OF this year viii also prove
10 be- somewhat optimistic. They
are looking for an increase Of IS
per cent over the volume n the
same period last year Thus would
mean however. 2 $40 per cent
--a>onal Increase from The first 20
the second quarter. Such AN M
crease would be- exceptionally
large The gam in the correspond
ing period last year was only IS
per cent
Consequently il is quite possible
that car l0adlugS In The second
quarter viii bc somewhat smaller
than the volume in the same
period last year thus continuing
the trend Of the first quarter Of
this year. The tonnage transported
however. may be larger than =
year ago because Of the increased
losdIngs per freight car.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Freight Car LOadings
ShOW Seasonal Decline

NEW YORK April - The
number of freight cars loaded dur
ing the first quarter uf This year
declined 70 $4,000 frou 1855
200 during the fourth quarter OF
last year. q decrease OF d per
cent. according 10 the Alexander
Hamilton Institute This was q
greater seasonal decline than that
expected BY the Shippers Advs-
CRY Boards Their forecast md
Gated reduction Of only 0.S per
cent.
As compared with the volume m
the first quarter last year car
loadings In the same period this
year showed q decrease OF 81 per
cent The shippers boards fore
cast indicated an increase of 34
per cent over last year.
n seems likely that the shippers
boards forecast for The second
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25

in England but was graduated
from Purdue, receiving his mas
ter'S degree at the University OF
Iowa.
He entered the Ford Motor Co.
in 1923 and joined
the Ford plant laboratory staff the
following year. Following two
years as research chemist there,
during which he worked on the
development Of special coatingS
for motor cars. aircraft, railroad
equipment and housing he Joined
the Cook Paint and Varnish Co. in
1927 as lacquer chemist
Kathju became associated with
the ArCo Co. in 1884. az Detroit
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Cleveland Graphite
Sales, Profit Hiqher

The Cleveland Graphite Bronze
Co. reports net sales for the first
quarter of 1913 Of S10.441.207 AS
compared with 81 257 1863 in the
same quarter last year. Profit for
the first three months Of this year
Is estimated az 81 per share on the
32l 900 shares Of common stock
after all charges. including fed
eral taxes now in effect. and after
setting up estimated reserves for
postwar rehabilitation and for
contingencies This compares with
% cents per share reported for the
first quarter Of 1912.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Pere Marquette March
Net Income S448,98O

March net income OF the Pere
Marquette Railway was S44S, $50
against Sl44.29S in March, 1912,
according 10 r. j. Bowman, presl-
dent. Total operating revenue for
the month was $47lS925 against
IS. 302 $40. Net income for the
first three months this year was
S1.237.42l against 1885 226 in the
like period a year ago, with total
revenues of S13,056,3Sl against
S9.373,612.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25

1912. totaled SD, 955, 900. 900 a.
against $50, 250,0OO,0O0 during the
corresponding period last year.
Despite this sharp increase, ex-
penditures were below the rate
contemplated in the budget.
If the budget estimate of $50
437, 100000 is TO be reached this
year, the government will need 10
increase its rate of spending TO an
average of S8,494. 100000 a month
during the last three months. This
will represent a substantial in
crease over the record high figure
OF 1884 .000.00 spent in March.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
S1.06 Share Earned
By Bower Roller

Bower Roller Bearing Co. for
the quarter ended March 81. sub
iect 10 renegotiation provisions.
reports net profit Of S3l8, 76S
after S6S7 800 for federal income
and excess profits taxes, equal TO
81 6 a share on the common,
against 1924, l49. equal TO 78 cents
a share for the quarter ended
March 81, 1912, when federal tax
provision amounted TO 1857 ,073.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Barron S Business
Index Holds Steady

NEW YORK, April "a The
physical volume Of business as
indicated by Barron'S index held
steady at 1854 in the week ended
April II. This index is adjusted
for long-tcrm industry and pop
ulation growth. A year ago il
was ia O.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Jacobson Named
To New Steel Group

Harry Jacobson Of the Detroit
firm Of Mark and Harry Jacobson.
has been named vice president Of
the Salvagers and Redistributors
Association, recently formed IN
New York The group will work
with the WPB in getting steel into
war channels and will also co
operate with the Steel Recovery
COrDOratiOn
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Ex-Detroiter Wins
Airline Promotion

American Airlines, Inc, has APP
pointed Bradford S. Gibson traffic
manager in New York, according
to Charles a. Rheinstrom. vice
president in charge of traffic Cor
the Airline
Gibson was assigned TO Detroit
from 1897 TO early 1910
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
SteeIS Dip
Weeks Ineot Output Set
al % Per Cent

NEW YORK. April "a Steel
ingot production for the week
ended April 10 is placed at 90 per
Ger OF capacity in compilation by
Dow-Jones & Co, Inc This COM
pareS with 100 per cent in the
previous week and 1902 per cent
two weeks ago.
l.. S. Steel Is estimated al 81
per cent, against 9S per cent IN
the two preceding weeks
Other leading companies are
with 1902 per cent COM
pared with 10l per cent week be-
fore and 10l z per cent two weeks
ago
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Detroit Gray Iron
Earnings Increase

Detroit Gray Iron Foundry 60
reports 1912 net profit of S23, 26S
equal TO four cents A share on
SIT 900 shares of capital stock
including 81. 800 shares 10 be
issued in acquisition of Detroit
Alloy Steel Co. stock. This com.
parcS with S20.575. or four cents
a share ON $4,000 shares in 1871
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
New U. s. Steel Film

L.. s. Steel Corp, is making
new industrial movie of the steel
industry al warts third chap
ter 10 be recorded on film.
Previous editions included the
color film. "Steel-Man's Serv-
ant. which showed 10 hundreds
of thousands of students over
the country. and a second film,
Steel for Victory"
Detroit's Jam Handy studio
recognized as the outstanding
industrial motion picture COM
pany in the worlds doing the
lob.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25

for a period OF
20 years, raS
been appointed
technical direc-
tor of the Arco
Co, Cleveland,
manufacture r S
of infra-red re-
fleeing Camou-
hage paints.
A native OF
India. Kathju
re &c V e d his
early education
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
DoehIer Die Casino
Sales SO Pct. Over AZ

Doehler Die Casting Co cur
rcntly is operating at an annual
sales volume rate Of about $50
100000, H. II. Doehler. chairman,
advised stockholders at the an
nual meeting. This exceeds by APP
proXimately 80 per cent the 1912
rate. Maintenance of present 81 2
cent dividend rate on common
seems safe for remaining quarters
this year. he added.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Pulls No Punches

A quotation which deserves a
place in history: Col Robert
Wood Johnson, new. chairman of
the Small War Plants Corp,
said il the other day in Detroit:
I'VE don't intend 10 run up
and down the halls Of bureauc-
racy--be IL government or bust
ness. And government has no
monopoly on IL. believe me-"
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Hurd Lock S 1912
Earnings S172,622

Hurd Lock and Manufacturing
Co. for the year ended Dec. 81,
l942. reports net profit Of Sl72 .622.
after provision for federal income
tax Of S540,S2l The profit is sub
ject 10 renegotiation by the gov
eminent.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Urges Insurance Firms
To Modernize Reports
PoIicyhoIders Need CIarific alton
ct Dollars and Cents Dividend
BY MERRYLE STANLEY RUKENSER
International Nrws service Economic Commentator

B,- with competition from government wan insurance and
expanding social security the HE insurance com
should themselves 10 modonlle their forms and improve
their relations with thclr dCyholder
Although some of the life
companies years humanized mphed their
"A they advanced as far As
industrial corporations tcamnns their accounts IN accordance
with the short form.
camuan-.- La-.--a 1hoE me1Aod. OF nLoming
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Group Names Oetroiter

Fred p Todd Secretary-treaS-
urer Of the Surety Savings and
Loan Association. Detroit, has
been named vice hCairman Of the
1913 Cup Contest Committee Of
the United States Savings and
Loan League.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
MidvaIe Elevates Frevert

PHILADELPHIA, April "a. b.
Harry l.. Frevert, president of
Midvale Co. since 1881. was
elected chairman of the board and
Francis Bradley formerly vice
president, was elected president.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
HOLD down PROFIT

While rencgotiation and taxes
Will both tend TO hold down earn
ingS. profits Of the major COM
panleS last year provide some indi-
cation of what the industry was
able 10 do in the face Of these
factors. Three Of the major COM
panies. Fircstone Goodyear and
L. s Rubber. completed rcnaroti-
alton before issuing annual re-
ports. Goodrich and General Tire
had not completed renegotiation
when annual reports were issued.
Aggregate earnings OF the FIVE
companies, The majority of which
had finished renegotiating. were
$40 100000 for the year ended on
or about Dec. 81, 1912. nearly as
large as in the previous year when
the total was SAT 500. 900. More
over, earnings last year in the case
Of Goodyear and l.. S. Rubber
were after heavy deductions for
Far East losses. With large in
vested capital base. most of the
large tire makers are in favor
able position under present tax
laws.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Dunn Steel Pays Toe

Dunn Steel Products Co Of
Plymouth has declared a dividend
OF 10 cents per share, payable
May 20. TO stockholders OF record
on May 10.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
SHOWS SALES RISE

Goodrich has been able 10 show
sales increases by emphasizing
production Of war products made
largely from rubber.
From an earnings point Of view,
the industry is faced with higher
raw material costs as result of
The boost In rubber prices put into
effect April !. last The new Sett-
ing price. which is fixed by the
government. j. 40 cents a pound.
The previous price had been 22is
cents a pound. While there was a
simultaneous reduction in syn
thetic rubber prices, the general
cost level is still up.
Synthetic rubber was cut 20 36
cents a pound from the old price
of so cents a pound and reduc-
tons Of varying amounts were
made IN other types OF synthetic
rubber The major portion Of
rubber being consumed IN this
country is still natural rubber.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Fed'l Screw Works
Votes 25C Dividend

Federal. Screw Works has de-
clared the regular quarterly dNl-
dend Of p cents, payable June ID
to holders Of record June |,
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
HIGHER RATE SEEN

In the second six months. as
conversion took hold. sales jumped
TO an annual rate of 81, 500. 600 900.
il is estimated Early indications
are that the rate will be even
higher during the current half
year.
An indication Of the trend was
given al the annual meeting Of
L. s. Rubber Co. when +. r.
Davis, chairman, reported this
company'S sales in the first quar-
ter were u per cent ahead of the
like 1912 period. Firestone Tire
and Rubber Co and Goodyear Tire
and Rubber Co, both OF which had
record-high sales I'm 1912. have
broadly diversified war production.
which is believed 10 have been
sufficient 10 give further boost
to sales this year Both these
companies are heavily engaged in
making products used for airplanes
and they have also branched out
into q number Of other rubber and
war items
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Sales Outlook
Improves for
Rubber Trade

CLEVELAND, April "a Sales
of the rubber industry have con-
tinued upward thus far this year,
indicating volume for the current
six months will be at new record
high level.
Increase in business during the
first half is expected 10 be suffi-
cient. in most cases, 10 sustain
earnings at levels that will COM
pare quite favorably with year
ago. Rise in sales will offset or
60 a long way toward compensat-
ing for such adverse factors aS
higher raw material costs, heavy
taxes, and rencgotiation Of war
contracts.
Last year aggregate sales OF the
five largest rubber companies were
nearly Sl,400.000 900. compared
with slightly less than $l,200,0O0.-
600 in 1871. In the first half.
however, the industry was still in
the conversion" stage and as a
result sales held at about the l941
rate
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
Detroiter Wins
Af(o Promotion

CLEVELAND. April "a Kan
n Kathju research and consult
ing chemist on the STATS of auto
motive and paint manufacturers
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
D. & 6. Reflects Officers

All officers Of the Detroit and
Cleveland Navigation Co. were re-
elected at the annual meeting
here.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
MARGIN or SAFETY

homer. II IS really a rebate on
the oYcrCharC OF the gross pre-
MUM. Which is deliberately Excess
Sivc in the case of participating
policies in order 10 provide a mar
gin Of safety for emergencies.
Many poliCyholders in practice de-
duct the dividend from the gross
premium, and actually pay as pre-
MUM only the remainder. which
is the amount Of the not outlay
The So-called dividend comes
from savings in three directions
From mortality savings, in which
actual death experience is more
favorable than the theoretical
computation. from savings on eX-
penseS: and from So-Called interest
earnings in excess of the Contrac-
tCal minimum guaranteed in the
insurance contract
With the cost Of clerk hire riS-
ing In wartime. there is not much
opportunity for savings for the
dividend from the expense loading
Likewise. in the last decade or
more of managed money i'm tho
direction Of low interest rates, the
average interest earnings of inSur-
ance companies have declined.
There have. in fact. been instances
where there was a NEGATIVE.
rather than an actual. contribution
TO the dividend from this source.
As matter of fact. under the
present setup. the chief Contribu-
ton TO the dividend has come in
most instances from So-called NOR
talitV savings.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25

pOllCNhOldCTN concerning atllOn on
the dividend scale in general and
how il works out for individual
policies in particular, Most of the
notices that come across my desk
merely give the annual gross pre-
MUM as fixed 10y contract and the
actual dollar and cents amount of
the current dividend applicable to
a given policy. They give no cure
rs TO the mysteries OF arithmetic
or accounting by which the dollar
and cents dividend figure is AZ
rived at.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
SIMPLE TECHNIQUE

There is a great need for invcn-
tive actuarieS To develop a simple
technique for reporting 10 the CO.
operative owners tho poliCyhOld-
erS) Of the mutual life insurance
companies how the dollar and
cents dividend is arrived at
i the dividend scale remains
unchanged from year to year. the
actual dollar and cents dividend
on a given policy grows because
the cash reserves Of the policy or
which the dividend is paid become
larger each year. Yet declines in
the interest rates and added re-
serves for investment deprecia-
ton have in no. few companicS
detected the rornal eXpectat'on
Of ever laroer dividends as policies
become older.
Detroit evening times. (Detroit, Mich) 1921-1958, 1943-04-25
RESULTED IN CHANGE

Events at and following Pearl
HarbOr were responsible for a
change i'm the dividend scale for
policies with anniversaries from
March TO December, 1912. \
reduction I'm the scale was made
10 provide for war losses and To
take account of some security
depreciation.
Policies with anniversaries i'm
the last 10 months of the year
are. in general, receiving diVi-
dendS i'm 1913 AT the same scale
~ IN 1912 tthis resulting usually
Nv some increase IN the amount
of dividend payable.) In order.
however. Ia establish equity be-
tween these policies and those
with anniversaries In the first
two months Of the year. II was
necessary 10 make an adjust
ment In 1913 To take account OF
the fact that dividends were paid
10 policies in the latter group at
higher scale in 1912 than 10
the former"
] rise 10 ask why keep such i'm
portant data As secret from the
policyholderS. who are the rea
owners OF the business.