Evening star., 1950-08-15
Norfage Of Rail Cars
Reported 10 Amount
To 10000 Per Day
Rv EdWord c. Stone

Railroads today reported a short
age of 10000 cars per day. Load
ings are now averaging 100000
cars a day, only stock and refrig-
orator cars being in ample supply.
The shortage is due mainly to
increased military movements, in
creased production for national
defense, consumers rush to obtain
goods, rail and dock strikes, the
five-day week which reduces car
utilization, moving of old and new
grain crops at same time, and the
discarding of $4,000 cars in the
last IL months.
The associations car loading
division is doing everything pos
slble to speed up the service and
meet the emergency. Cars are be-
ing transferred to sections where
they are most needed. Commodi-
ties usually moved in boXcarS are
being hauled in refrigerator cars
Furthermore, the roads have l00,-
900 new cars on order.
Bank Stocks Remain Firm.
Bank stocks listed on the Wash
ington exchange and those in the
r-the-counter list recorded nc
price changes last week. Trading
on the exchange was confined to
Riggs National and American Sc
curity e. Trust. Riggs was up 5
points and at $40 was within 5
points of the high for the year
American Security, at "a, was at
the high for 1850.
New York bank stocks, widely
owned here. were erratic because
of merger rumors. Brooklyn Trust
was up 80 points but closed the
week with a gain of 18 points. The
rumor which boosted Brooklyn
Trust and Commercial National
was later denied. Sales were light.
Erratic Market Forecast.
Leading Washington brokers and
investment dealers look for an
erratic stock market while the
Korean situation remains so crit
ical. They urge special care in
selecting investments, as some
stocks will profit greatly by the
war conditions while others will
not be so fortunate. The question
of which stocks to buy becomes of
top Importance, dealers point out.
According to Du Walls forecast,
more than 40 financial services
expect the stock market will re-
sumo its advance. Some suggest
period of watchful waiting un-
til the air clears" Further dis
cussions on excess profits taxes,
price controls and other wartime
regulations are certain to have a
decidedly bearish effect on the
market, dealers add.
Nees On Chest Committee.
Bernard ]. Nees. partner in the
investment firm of Johnston,
Lemon & Co., and former presi-
dent of the Washington Stock EX-
change. has been named vice
chairman of Business Unit IL OF
the Community Chest. w. j. Hag-
gerty, insurance executive, has
been given a similar appointment.
Ralph j. Saffell. floor manager
of the Washington stock Ex-
change, has returned from va
cation at Atlantic City, James
M. Stages, with Johnston, Lemon
& Co., and a former employe Of
the Exchange, took his place while
he was away.
Capital Transit First As regis
tered a $1,000 transfer on the
Stock Exchange yes
terday at 98l2 against the high
for the year of SO. The low was
96.
Terminal Refrigerating & Ware
housing Corp. stock, which has
Just under per cent. The stock
in the first 1850 transfer, yields
Just under 6 percent. The stock
pays $3.50 year on $50 per value.
Three Promotions Made.
The Equitable COOPERATIVE
Building Association has promoted
three staff members to be assist
ant secretaries, according to Sec
retary Edward L. McAleer. They
are Phoebe E. Tyrrell. Wilhelel-
nina S. Lugwig, and Francis G.
Addison, Sd, son of the presi-
dent of the Security Savings &
Commercial Bank.
Mr.. McAleer also announced
that Donald Buckingham, vice
president of Woodward & 10TH
rop, has been elected a director.
Farm Prices Up Sharply.
According to the Alexander
Hamilton Institute, the recovery
in the prices of farm products
from the 1938-1949 recession was
extended sharply in July. The
price index as compiled by the
Bureau of Agricultural Economics
on the basis of 1910-1914 as 100
rose to 263 in July from 247 in
June and from the recesSion's low
of 233 last December.
Henry A. Bubb, president of the
United States Savings and Loan
League, told Colorado members
yesterday that the gravest danger
from the war so far has not been
aggression from without but ag-
gression from within, though the
imposition of sweeping controls
and regulations of a more or less
permanent nature, in the name of
a full scale national emergency"
Mr.. Bubb demands a reduction in
welfare State expenditures"