davidaulloa/AmericanStories huggingface dataset:
Evening star., 1948-01-25
Business Briefs

Construction Contracts awarded
lin 81 States east Of the Rocky Noun
tains in 1947 set q peacetime
record OF $7,759, ,868, 900, q gain Of ~
from 1916, but SO below the war
time peak set In 1942-F. w. Dodge
Corp. Residential contracts of So
153, IT'S. 900 exceeded any previous
year.
| Auto Factory Sales in 1947 totaled
,796, 500 cars, trucks and coaches VS..
8, ,089 $50 in 1916 and were topped
only by 1929 factory sales of $685.
40 and 1887 sales Of 4,308 ,974-Auto-
mobile Manufacturers Association.
Reserve Requirements of New
York and Chicago banks were raised
by the Federal Reserve Board from
20T to 22Ts of their net demand de-
posits, effective February az. The
action was taken to restrain fur
ither inflationary expansion of bank
credit.
Cash Dividend Payments on COM
mon stocks listed on the New York
Stock Exchange totaled $3,254. $751;
600 in 1947, gain Of nearly 20%
from 1916 Payments were made
on s5l issues, including increases
on 64.8% of the total. Payments on
121 issues were cut.
Swift international Co., Ltd, an
nounced 1t would not pay the reg
ular quarterly dividend. payable to
stockholders March l. because the
Central Bank Of Argentina had not
approved such an action.
quaterly dividend of 62la cents,
payable February IS. The rate was
set November IA after q 2-for-1 stock
split. Old shares received 81 quar-
terly plus year-end payment Of 81.
Virginia Electric T. Power Co. de-
clared an initial quarterly dividend
of 30 cents q common share, payable
June 81.
Anheuser- Busch, Inc, declared q
dividend of Is cents, payable March
S.
Consolidated Edison Co. Of New
York and subsidiaries earned $780,
709, $50 or $1.90 q share in 1947 VS..
$362 202 $40 or $2.2o in the previous
year.
Northwest Bancorporation net in
come for 1947 was $4,297 ,643 or $2.77
VS.. $4,495 ,52S or $3.50 in 1916.
Caterpillar Tractor Co. estimated
earnings for 1s47 were $9,956,912 or
$5.29 VS.. $6,111,59l or $3.25 In the
previous year.
Lakey Foundry & Machine Co. net
for IL months ended October 81
was $l,077, ,635 or $2.20 VS.. $217. 100
or A cents in the preceding fiscal
period.
Kendall Refining Co. earned ST.
02O, ,058 or $2.57 in IL months ended
October 81 VS.. $40l 1856 or $l.01 in
the previous year.
Burton Dixie Corp. profit for II
months ended November 80 was
$765 ,266 or $3.70 VS.. $37l ,427 or $1.79
in the preceding fiscal period.
Finance Co. Of America, Balti-
more, earned $420,582 in 1947 vs..
$228. .485 in the previous year.
Victor Equipment Co. profit for
1947 was 1886, ,325 or SITS VS.. $449,-
846 or $202 in 1916.
Philco Corp. announced 1t is ready
to market a new television set with
q 7-inch picture tube selling for
$199.50 and a new 1o-inch picture
set for $339.50.
Arcturus Radio 4 Televisien Corp.
demonstrated a new television set
which it said operates entirely with
ont an antanns '5f'53
Evening star., 1948-01-25
Bonds Drift Lower
JAS Buying Interest
Fails 10 Develop
BY the Assoeis,sd Press


NEW YORK, Jan. 24-Freezing
weather helped chill investor in
terests in the bond market today
and prices tipped slowly to the
minus side.
A hand-picked group Of railroad
issues managed to strike against the
trend for minor gains but the gen.
eral run of carrier bonds ended in
fractional losses. Industrial and
utility liens did comparatively we'll
The market started the week with
a sharp drop and never fully re-
covered its balance. In the rail sec
ton sporadic efforts at a rally ap-
peared but buying consistently failed
to develop real power.
Big Offering Successful.
Investment quarters suggested at
the outset of the week that traders
awaiting public reception of the
largest security offering of the year
thus far. The offering was success
after slight hitch in pricing
but investor apathy continued.
Top billing in the new money
market was taken by Southern Cali
fornia Edison Co. with $40, 900 900 of
25-year bonds. Halsey Stuart g. Co.
submitted the winning bid Of
102 02599 for a 31s per cent coupon
and planned to reoffer the issue
publicly at 1925 to yield about
2975 per cent. The winning syndi-
cate found it necessary to drop the
price to 102.l87, or yield of per
cent, and the bonds were quickly
bought, mainly by institutions.
Most other issues offered met with
favorable public reception.
United States Government bond
prices in the over-the counter mar
ket continued at around the lowest
levels reached since the Federal
Reserve System lowered its support
prices Christmas Eve. The federal
has declined to announce at Exactly
what levels 1t would support issues
and dealers apparently still are try
ing to probe for a bottom to the
market.
Policy CO-ordinated.
Secretary Snyder during the week
re-emphasized official determination
to maintain prices when he said the
treasury has no intention of letting
government bonds 60 below par.
Treasury and Federal Reserve pol
icy with regard to Government
bonds is closely co-ordinated.
Secretary Snyder told reporters
that the Christmas Eve lowering
OF market supports had been ap-
proved by "the bankers" and added
that they "complimented us for
taking a courageous STEP" It was
believed in the financial district that
Government bond dealers had tax
en- substantial inventory losses when
price props were dropped.
Announcement late in the week
that the Federal Reserve Board
had raised reserve requirements for
New York and Chicago banks was
without immediate effect on the
bond market
The announcement revealed the
third step the Federal has taken
all intimately linked with the bond
market to combat inflationary
forces. In addition the Federal has
lowered support prices and raised
the rediscount rate.
Evening star., 1948-01-25
Chicago Grain

CHICAGO, Jan. "a G1.-wheat again
Of Trade today. influenced by SHOWS in
the winter wheat belt and by an Agricul.
ture Department report showing substan
tial stocks on hand at the start of thi.
year. . ..so >
Feed grains resisted the decline afte,
selling off with wheat early. Buying b,
houses with Northwestern connections gave
the corn market support, although de.
ferred months showed tendency to eas.
late in the session. Oats were firm in line
with cash grain strength.
Wheat closed IA lower to / cent higher
May 2.64A :. .85h: oats were MIN high.
er, May 1.27R-A, and soybeans were un.
CHANGED to u lower: March a On
Evening star., 1948-01-25
Chicuqo Livestock

CHICAGO, Jan. "a R, tUsDA).-sal.
able hogs, 500: total, $500 (estimated)
Sows, generally 25 lower after being 90
to 90 of at low time: weeks top. 1925
Salable cattle, 200 (estimatedl; total
not given: compared week ago: Receipts
measurably smaller at ali markets. but
Evening star., 1948-01-25
Livestock Market.

LkNtstoCk WAfhek
Cattle-None; weeks trade very un.
cattle and period closing at full de.
S SO to j. 90 lower: medium to low GOOD
common and choice grades were scarce
sysrase. aver iiG .medium s's and good srades; SOME
beef and sausage OFFERINGS late: bull
sS g.; lew sales Mondss. 81 90: ms; 4;
dunn to low. 20.00-26;90. Largely a an GC
up: common TO low medium; 10 90. lS:V9; ie,
good heifers' 20. .60-s7 80: common. 1900;
1900: one lot medium and GOOD mixed
yearlings grades, ISoo-ss so; little a6oye aO%s
iS.00-1S.00: canners and cutters. 1900.
1850; strong;weight cutters to 1900 800
$3.50; GOOD iui suassse. age a0.0o-as 90; late
1850; low choice 49,; pound feeder steers
%Sas ssSS fe% s5asss sbss n''o0nk
calves--None; top yealers and weighty
calves. LOO higher: others stesdy; M sorted ,;S
% 81 90: Common and medium 1900 q. 90
good and choice h weishty calves. 1900
1s6fso poands sna sRS pound bar
cholce lSO-2oU pound paEToWS ana SutS
28. .O0-50; top. $3.50; .120-140 pounds
25.25-50; .140-1e0 pounds, 27.00-25: I60.
1870 pounds. 27,50-2S,25: 250-276 pounds
g. dSa5o sS T5sSS neGns. g1sgbsoo 1soggbbass SG
pounds w; aA:oo.25.25: good and od sh shois. as
heavier weights, 21.50 down.
Sheep-None; very light supply. ~
classes steady: scattered sales. good ano
choice wooled slaughter lambs, 25. 90.
26.00: medium and good, 1S.00-22 90;
common, 400; good and choice woolet
ewes. 100000: common. 800.
Grain Market.
Flour-Receipts, GALS 100-pound sacks.
wheat-Receipts, 139, $50 bushels: ship.
mepts. 725,750 bushels; stocks. 5, ,739, ,604
bushels No; no: red winter ds sariickS' spot
Corn-Receipts. 1898 bushels: ship:
ments, 10000 bushels; stocks, 609'S0t
oats-Receipts. 54,347 bushels. ship.
ments. none; stocks, 630,125 bushels; No
2 white oats, 1861 80.
Barley - Receipts, none; shipments
none; stocks, S.414 bushels.
Rye-Receipts 6,054 bushels: shipments
1,434 bushels; stocks, 83,757 bushels.
Soybeans-Receipts, none; shipments
none; stocks. 22.695 bushels.
Millfeed-Receipts. 654 bushels.
Evening star., 1948-01-25
Marriage License
AppIicotions

Under d. C. la,os, couples must
apply for marriage license on
one day, toait three tuu days and
receiue the license on the fifth
day. Sundays and holidays are
counted the same as other days.
Evening star., 1948-01-25

The Star has enlarged its coverage
of fruit and vegetable prices on the
Baltimore market as substitute for
similar Washington quotations re-
ture Department. The department
reports the Baltimore quotations
supplied below determine prices paid
on the Washington market.
Evening star., 1948-01-25
New York Cotton

NEW YORK. Jan. - R.-cotton fu-
lures closed flrm today and At the days
best levels. Heavy trade price fixing came
into the market In late dealings and
disclosed lack Of offerings ~
The merket arTing most Of the session
ruled in lower ground, Influenced by per-
siStent commission house LIQUIDATION.
Futures closed to 90 cents q bale
hiEher than the previous close
Evening star., 1948-01-25

Chicago Cash Market.
No wheat. Corn-No 8 yellow, 2.74z
Mo. white, "A; No. 2, 1.43 Bar
ley-Malting. 1.92-2.S2 nominal; feed
1.S5-2.12 nominal. Field seed per hun
dredweight, enthusiastically, 5.50-6.O0
red top, l9O0-2O.00
Evening star., 1948-01-25
BOND SUMMARY

tFurnished b. the Assseiated fress.D
seiected list Of aerive Bonds en- the
high. low and CLOSING price for the week,
and the net changs fren the Drevieus
SATURDAYS close.
Diyidend Rae Hish. Low Close csa
Evening star., 1948-01-25
CopitoI Securities
Over the COunts

on Washington securities traded over the
counter. represent prices at which one OF
more dealers, members of the National
would trade with the general public al
the time the quotations were assembled
for The Star as of Friday noon. Origiu
OF any quotation furnished on request.
Evening star., 1948-01-25

In BANKRUPTCY or recelver6hlp, OF psInk
reorganized under the bankruptcy act, or
securities assumed by such companies;
Rates of dividends in the foregoing tapIe
last quarterly or semiannual declaration
Unless otherwise noted. special or extra
dividends are not included. Also extra
or extras Plus stock dividend. Cash or
stock. Z Declared or paid 50 far this year.
Payable in stock. g Paid last year De-
clared or paid after stock dividend OF
spIit up, k Accumulated dividends paid or
declared this year. WV With warrants: N
without warrants. zPayable In STOCK,
exact cash value undetermined % declara-
Evening star., 1948-01-25
CURB SUMMARY

:. A selected iiss sf active steeks On tAe
New York Steek Exchange. shswtnx the
high. law and clssinR pffce fer the week
and The net ehanse frem the DrevieUs
SATURDAYS cloao.
Evening star., 1948-01-25
Woshinqton Stock EXCHANGE

Compiled omiaia
TRANSACTIONS ." ANb McluhnSd = FRIDAY JANUakY @ s. ~ ~ " =
Evening star., 1948-01-25
Produce Markets

. Plus extra or extrs
Evening star., 1948-01-27
Air PoIicyCommissionH Head
Urges Arming Of U. n. !
BY the Assoeioisd Press

NEW YORK, Jan. GA militarily
strong United Nations coupled with
strengthened international Court
of Justice to enforce a world law
against war" were urged last night
by the chairman of the Presidents
Air Policy Commission. :
The United States, Thomas x.
Finletter said should seek special
session of the United Nations 10
.aehieye sthsse aaimS.,4Ans armed U.aF.,
he added, should be accom- mparlied7by
corresponding disarmament of the
member countries. }''1'@
ut is time for a showdown On
this business of organizing the
world for, peace Mr.. Fipletter told
the Institute of the SAeronautical
Sciences OF America.
And when say Showdown, I
mean a showdown with ourselves as
we'll as with Russia. We, ourselves,
have not made up our minds that
we want peace SO badly that we will
give up our tradition of strict ma
tionalism and put all the chips On
the international way of doing
things, of which the United States
is the symbol and instrument"
Mr.. Finletter also called for "a
United States Of Europe" Nothing
less than that, he said. would permit
the United States with safety 10
withdraw its occupation forces from
Germany.
Evening star., 1948-01-27

other critics of administration
spending estimates thus would have
to rally 80 to IS Republican votes,
Administration lieutenants con-
ceded that they face stiff fight
when the bill goes before the Sem
ate, but expressed confidence the
Senate Foreign Relations Commit
tee will approve the $500, ,0oo, 900
total.
The New Englander said Mr.. Tru-
mans budget listed $4,000, ,000, 900 in
planned expenditures for foreign aid
in the fiscal year beginning next
July /, and noted that the President
asked another s500,000,000 before
July /.
Subtract this $4,5O0,0OO, 900 total
from the administrations $780,
0O0, 900 request, Senator Bridges said.
and you get discrepancy" of $2,-
SOC, ,000, 900.
He said the Appropriations Com
mittee would "look into it" and
added that Senator Vandenberg also
had promised to ask for an explain
ation."
Evening star., 1948-01-27
Redesigned 0Idsmobi|es
Go on Display in Detroit
BY the sAssosiaisd Press.

DETROIT. Jan. oldsmobiIe' s
completely redesigned ''Futuramic"
series 98 model passenger car for
| 194S went on public display here
today along with others of the Olds-
mobile models and gave fairly
broad hint of what next years
models will look like. g.
The new car, which 'commemo-
rates Oldsmobile's 50th anniversary
of automobile manufacturing. has
a lowered silhouette, curved wind
shield, lower and broader appearing
hood, restyled instrument panel and
the long, sweeping, streamlined eff
feet that has come to be generally
accepted as the new look" in motor
cars.
While the other Oldsmobile mod
els-the so and 10 series-have been
given less significant styling changes,
company representatives indicated
that the styling of the 'Futuramic"
model probably will be adapted to
them in the 1949 models, which may
come out late this year. 49,.
F. E. Skinner, Oldsmobile general
manager, said the new models would
be displayed in dealer showrooms
about the country about February
Is. He said there would be no
change in the price of the so and 10
series models, but that the "Futur-
annie" would be priced slightly high
er than the same model in 1947.
Oldsmobile's present backlog Of
untitled orders, its general manager
said, totals approximately $4,000
units.
Evening star., 1948-01-27

81, 800 600 900 revenue loss nth
Republican. bill. This was rejected
16 to 8.
1. Another Mills proposal to sub
stita1te for the Knutson measure the
provisions Of the Presidents pro-
posal, plus the community property
principle and an extra $160 per-
sonal exemption for each tax payer.
This was turned down, II to 7.
Margarine Tax Opposed.
Mr.. Dingell sought to put into
the Knutson bill a clause repeal
ing all special taxes on oleomar-
gerine, but Chairman Knutson
ruled that this was matter for
study by the House Agriculture
Committee.
Democrats conceded that the Re-
publicans, with 245-to-185 major
ity. have the votes to ram the bill
through the House. Their strategy
was to convince the COP that they
cannot attract enough Democratic
votes for q two-thirds majority to
override an expected veto by Presi-
dent Truman unless the Senate re-
duces the tax cut sharply. a
Evening star., 1948-01-27

wood Hudgins of Portsmouth, Va,
the vessels skipper, said the Poto-
mac ice was pretty bad and not
getting any better" He estimated 1t
was 4 to 8 inches thick. He left
Norfolk Saturday.
The officer, with q years expert
ence, said this was the second time
he has assisted the Coral Sea. The
first instance was in Hampton Roads
about two years ago, when the tug S
propeller became fouled.
1t. Hudgins assumed command OF
the Madrona last October. One OF
the newest ships OF its type, the
vessel was built in Duluth. Mimi.
, in 1943, and her single screw is
driven by diesel electric engines de-
veloping 1000 horsepower, which give
it the power and maneuverability
necessary for operating in river and
harbor ice. 1t has a maximum
speed of about Is knots and carries
crew OF Il.
The Standard Oil Co. today began
sending out postcards to its con-
sumers warning that deliveries will
be extended, forcing csutomers to
Evening star., 1948-01-27
FOREIGN Aid
Continued From First Page }

stabilized and no one knows where
they will be in two or three years.
Good weather will mean big
difference in European food needs
he said.
And third factor, Mr.. Reed said,
is that Russia will do everything
in her power to sabotage our pro-
gram" He added:
Until we see what methods she
will use, what tricks she will try,
who can say to what extent these
efforts will neutralize our program?
This is war, gentlemen, economic
and political war. and the cost OF
war is Importantly affected by what
moves the enemy makes and what
we must do to counteract them"
Cites Defense Expenses.
Mr.. Reed said that If the Marshall
Plan is not approved and Europe
does go Communist he sees this
prospect for the United States:
Billions more expenditures re-
quired for American military de-
fenses, perhaps a 50 per cent boost
in this outlay.
Greatly reduced trade with the
rest of the world, with American
living standards suffering.
Such trade as remained would slip
under Government regulation to the
point of jeopardizing its free enter
prise system.
Senator Taft himself has called
for a slash OF more than $4,000, ,000,-
900 in the suggested outlay for the
frs. IS months.
"I think there is no doubt that
$500, ,00O, 900 figure will be cut" the
Ohioan told a reporter. IT'S just a
matter of degree. Some Senators
want to 60 further than others and
I don't know what the outcome will
be on that point"
This forecast by the chairman of
the Republican Policy Committee
conceded with reports that a quiet
nose count indicates IL to 18 DEM
ocrats may support foreign aid
fund reduction.
To put it over, Senator Taft and
Evening star., 1948-01-27
Randolph losses Dictator
charqe Back al ITU Rival
BY the Assoeiutsd Press

INDIANAPOLIS, Ind, Jan. 81
Woodruff Randolph, president of the
International Typographical Union,
yesterday tossed dictator" charge
back at his union rival, Charles D.
Tucker, and called the Tucker fac
ton a "do-nothing party"
Mr.. Tucker, who is president OF
the Independent party within the
union. called Mr.. Randolph die
tator" in a speech to ITU members
in Columbus, Ohio, Sunday.
The Randolph statement said
"Mr. Tucker only echoes the charges
of certain employers who would like
to see the ITU surrender to their
union destroying tactics.
The only dictatorship apparent
at this time is that of Mr.. Tucker,
who reads people out of his party
at will"
!. Mr.. Tucker, in his Columbus ad-
dress, accused Reese j. Highfield,
secretary-treasurer of the Akron
local, of treason to the union" in
testifying in Chicago concerning a
strike there, and read Mr.. Highfleld
out of the independent party
Evening star., 1948-01-27

make their oil last Is per cent lof8er
Most other companies, an VMaa
said are following suit to meeA
Recommendation by Mr.. Kefrnedyi
icommittee. -
/ No Unlimited Changeovers-
I The oil pinch also cast a shadow
over the gas supply here. 3 The
Washington Gas Light Co. warned
that the gas supply in this area !.
not sufficient to permit changeovers
from oil to gas heat on an unlim.
tied basis
Everett j. Boothby, vice president
and general manager of the firm
told The Star he would attempt tc
stem any large-scale conversion te
gas heat.
He made clear that there is nj
present shortage of gas. But with
the oil shortage" he said, I'VE dom
know what large-scale conversion!
would lead to-"
Mr.. Boothby said he though1
there have been some conversion!
because of the oil scarce, but thai
he did not know how many. Tht
gas situation will be more acute
however, because most homes under
construction now will be heatec
with gas, he said.
Evening star., 1948-01-27
Grain
Continued From First Page.)

which allows retailers to return to
bakers day-old bread which they
fail to sell.
Meat packers, it was learned, were
to be asked to start discussions on a
program that would assure equitable
distribution of meat throughout the
country in the event of shortage
this year. While this proposal has
little connection with the current
grain-saving drive, it underscores
the administrations concern over a
Threatened scarcity of meat thi,
spring and summer.
Poultry Curtailment Sought.
Most of the industries gathered
here today are to be asked to hold
their flour and grain inventories to
so days normal consumption.
Mixed feed manufacturers will be
asked to eliminate use of all wheat,
except the lowest grade. Concerns
in certain Far Western States,
however, would be allowed a Ger
tain percentage OF better grade
wheat.
The poultry industry will be asked
to consider % curtailing hatchery
operations now or CD continue
present operations and then shut
down completely during June, July
and August. A department source
explained that Government seeks q
curtailment of baby chicks as well
as ducks and turkeys
Evening star., 1948-01-27
Fuel Oil
CONTINUED From First Page

l25 of the hardship" calls we've
received yesterday.
Clerks at Mr.. Kennedy's office
said a number of the calls have
been from business establishments
The callers were told that the CO.
ordinating committee is devoting ali
its efforts for the present to helping
home consumers.
Mr.. Kennedy asked that consum-
ers limit calls between 8:l5 am
and S pm. each day. The so certifi.
Gates issued, he said, included l:
to Maryland residents, 2S in Virginia
and 7 in the District.
The Madrona left it's pier at the
foot of o street S.W., early this
morning to clear the way for the
oil shipment, its second mission in
two days.
Yesterday it freed another barge
containing about $500 barrels OF
Bunker c commercial oil, the equiv
alent of about 693 900 gallons. The
barge was in tow of the tug Coral
Sea, when it was trapped in the ice
near Piney Point. Md, about so miles
down the Potomac. 1t arrived at the
foot Of o street late yesterday for
L. P. Steuart 6 Bro, Inc.
The 1,o25-ton Madrona WAS sent
up here from Norfolk to keep a path
through the Potomac clear. 1t. Lin
Evening star., 1948-01-27
U. S.-SoWet Council Head
Defends 1889 German Pact
BY the Assoeioisd Press

NEW YORK, Jan. 27.-The head
of the American-Soviet Friendship
Council says the 1899 Russian-Ger-
man nonaggression pact was mot
dissimilar" to the neutrality Of the
United States at the time.
The Rev. William Howard Melish,
national chairman of the council,
said yesterday in a statement that
the State Departments recent re-
lease of documents concerning the
pact was an appeal to the preju-
dices of the uninformed among the
American public"
The meaning of the documents, he
declared, was twisted and per-
verted" in an effort to justify the
cold war" against the Soviet.
The council was included by At
torney General Clark In q recent
list of what he called "totalitarian.
Fascist, Communist or subversive'
groups.