Evening Star Newspaper, November 20, 1935, Page 16

STEEL INGOT RATE STAGES ADVANCE Iron Age Reveals Upturn of Half a Point to 542 Per Cent Mark. By the Assoclated Press. NEW YORK, November 20.—The rate of steel ingot production has climbed to 54!, per cent of capacity | from 54 per cent last week in response to a shared increase in orders from the automobile industry and expanded | takings of railroad and construction material, Iron Age stated today in its | weekly review. “After weeks of steady but mod- erate orders from the automobile in- dustry, business from that quarter has | suddenly swollen to unlooked-for pro- | portions,” the summary declared. Reflecting the improved outlook for | production, steel scrap has advanced | 50 cents a ton at Chicago and 25\ cents a ton at Pittsburgh. Concerning purchases by the motor manufacturers, the review said that “sheet mill backlogs have become so large that certain producers are| virtually sold out for the year on all regular grades except heavy hot-rolled sheets. “Reluctance on the part of a num- ber of steel producers to advance prices | is vanishing as evidences of widening | demand become more convincing. “Pressure for deliveries is replacing | price as the concern of the motor car | trade, and & number of buyers in the automotive field are now requesting mills to reserve rolling space for their | first quarter requirements subject to| the prices prevailing at that time. “The transition to a strong market | has been a sudden one. Only recently persistent reports of price irregulari- tles, especially on tonnage business | placed in the Detroit area, made the steel trade apprehensive of attempt- ing price advances, notwithstanding increased material costs.” BONDS ON THE CURB MARKET. | DOMESTIC BONDS. | High. Low. Noon. | 1033 10334 1033 1011017 101 9 Alabama Pow 5 Alsbama Pow § Alabama Pow 10 e foses | . Appaiach Pow Arkans P & L 05 > 3 ,\ | | 6512 | 661y 6651 s mn.‘ 2 101 3; Cities Service 55 Cittes Service 5s ' o 74 | D § Firestons Tire 55+ 1 05 | Florida P & L 5s Gatineau Pw bs Gatineau Pw ts Gatineau P 'is B 41 Gen W G & E bs A Geoml Pw 55 '67__ | the table and was very near '.o Jeanne. i l a 1017 - 101*. 0% 38 983, Mitiioha e 5".; *51 Mass Gas 53 '55. 2y 1813 18 96 96 | sureness | reunion?” THE EVENING STAR, WASHINGTON, D. (. WEDNESDAY, DAILY SHORT STORY EXIT LAUGHING By Lenore Healy. FOR all her de- termination to be sensible about the thing, Jeanne felt her pulses quicken when she opened the door to admit Jeff Barclay. Jeff Barclay! She'd never really got him out of her sys- tem; never quite shaken off the memory of the pleasant havoc with her emotions Jefl's presence once could play. Even when she married Frank, it was with the ling- ering suspicion that this autumnal would never be a full sub- stitute for Jefl’s spnngume ardors. She opened tie door to Jefl, hoping she could accom- plish the necessary composure. He took both her hands in his and made as if to kiss her. Jeanne drew back. was. He had a wife—the girl he had married in Takoma when he de- serted Jeanne. Very near * ok ok ¥ THE:Y sat over the tea things in the parlor and Jeanne studied him as well as she could and still keep up her prete! of being casual. “I got your note,” Jeff said. “How did you know.I was in town? I came in only yesterday.” Jeanne blushed a trifie. She had sent the note on impulse; it must have seemed rather as though she were chasing him. She must be careful. She answered casually. “I saw your name in this morning’s paper in a| ‘New Arrivals’ list.” “I knew you'd never foget, Jeanne.” he said softly. “I knew you'd writs me when you—" She interrupted: “Why, of course! Why should not old friends have a She was beginning to be confused. She picked up a macaroon | and nibbled it; she was determined to be causal. “You needn't think,” said Jeff, “that you can hide behind that macaroon. | You aren't afraid of me, are you, | Jeanne?” “Not in the least said Jeanne| coolly. He was the same old Jeff and she said: “What have you been doing since | I saw you last2?” Oh, nothing you'd care| “Doing? to hear about.” * % ok % SHE waited for his question. “Again you?” “I keep very busy, 'Small things only—but they're fun. Housekeeping, gardening—you must see my garden!” “Must I?" The ironic infliction | made her laugh. “Yes, you really must. Frank and | I planned it together, and—" “Frank?” Oh, yes.” he said in- differently, “your husband.” “You've never met Frank, have you?” She'd steer clear of dangerous wpu;s nothing dangerous about | Frank. “Yes, I've met him,” Jeff answered, rather to her surprise. “Only yester- | day, in fact. Funny, isn't it? My | first day in town and practically the first person I meet is your husband. | Out at the club, you know. I was out | there with—with Stebbins, my law- yer.” He had brought his chair around HARDWABE TRADE MAINTAINS GAINS Selling at Quieter Pace Than in Recent Months, but Still Above 1934. s | Special Dispatch to The Star. NEW YORK, November 20.—Current hardware selling has been proceeding at a quieter pace than in the two or three preceding months, but main- tains moderate gsins over last Fall's records. Especial stlmulus has come to the Northwest, and other sections where cold weather has followed a period of unseasonable mildness, Hardware Age will say tomorrow in its market summary. The good corn crop has kept sales very lively on mittens, gloves and huskers. A large yield of apples has| bettered the movement of presses and parers. Canning supplies have en- Jjoyed a busy Fall. Toy stocks of some wholesalers are “|already showing shortages—and a famine in several popular toy lines is certain throughout the remainder of the year. Open Fall weather has encouraged the movement of tools, paints, roofing and other building materials, and of outdoor goods in general. Electrical appliances and the better grade house- wares are very active, both i their current utility demand and_in their sharing of early holiday buying. STORE SALES BELOW 1934. NEW YORK, November 20 (#).— Department store sales in the New York metropolitan area for the first 13 shopping days in November were 4.7 per cent below the like period of 1934, according to the Federal Re- serve Bank of New York. - FOREIGN MARKETS. By the Associated Press. LONDON.—A better tendency developed on the Stock Exchange today despite in- ternational uncertainties. Renewed specu- Iative buying caused an improvement in £old shares. olls and trans-Atlantic issues, ili-edged and aviation shares hardened on investmeni buying and the market closed steady. AR1S “Trading on the Bourse dis- Haved Tervousars today with most at- tention being attracted by the fluctua- fion in rentes which declined early. but later regained their losses. The c! tone was irregular, — Wisc P&L 55 E, 101 56. 1 York Rwy 58 '37-..C wfihoa% She wondered where his wife| A’ " she told him. | “You havent changsd much, Jeanne, for all your pretense of ma- tronly dignity.” He all but whispered the worcs. He was holdjng her hand now; she was let- ting him. Poor Frank! She managed to say, “What did Frank have to say?"” “He remembered my name. You must have used it rather often. He said ‘You're an old flame of my wife's, aren’t you?' I told him I was.” He paused a mo- ment. ‘‘Good enough sort he seemed. Rather dull, though, I to Jeanne. should think.” “He isn't dull,” said Jeanne, with- out much conviction. * K ok X T THE moment, with this potent | charm so near, Frank semed very dull. She'd have to change the sub- ject again. “Tell me about your wife, Jeff. never met her, you know.” “Oh, my wife!” the words came out | with a cloud of cigarette smoke. She's not very well. shortly after our marriage.” He laughed. “I don't know if there's any | casual connection. | “Let’s not talk about my wite, | Jeanne,” he was saying. “Let's talk | about—us.” ‘l She made no attempt to stop him | when he kissed her. Then she pushed [him gently away. “Jeff, Jeff, we mustn’t.” He laughed. “Still the dignified | matron, eh? Let's be sensible. You've got a dull husband and I've a sick wife—" She was really indignant now. “Jeff, please! You're being very heartless.” He lit another cigarette sullenly. | “How seriously ill is your wife?” she asked. | “It's what they call ‘a nervous trouble,'” he answered. “Polite way | of saying she's lost her mind.” Jeanne looked at him in astonish- ment. There was not an iota of con- I've . |cern in his voice, only vexation. He | went on: “I've arranged for a di- vorce. On the quiet, of course. | People are inclined to be sentimental ( about such things. So—" e EANNE dared not trust herself to speak. She was choked with the contempt she felt for him. She managed: “Will you excuse me, Jeff? I've a bit of a headache. Some other time we &an have a longer visit—" “But——" She didn't let him speak. “Good-by, Jeff,” she said, and left him to find his own way out. A little while later Frank came in, and found Jeanne lying on her bed upstairs. “Sick, darling?” he asked tenderly. | He sat down beside her. | “Just tired,” che answered. He | kissed her. “I met an old friend of yours out ! at the club yesterday,” he said teas- | ingly. “Jeff Barclay. Remember? Your favorite old flame? He'd all but forgotten you. Remembered after a while, though. Nice fellow. He in- troduced me to his wife. She's charming.” | Jeanne sat up very straight. wife? Why, Frank, she's—" She stopped. Frank said: “He told | me he'd look you up. You'll be glad | to see him, won't you?” | Jeanne smiled and kissed her hus- | band. “Yes,” she said, wilL” (Copyright, 1935.) DIVIDENDS ANNOUNCED NEW YORK. November 20.—Dividends declared tnrwned by the Standard Sta- tistics Corp. “His lnerened Stock of Pay- Rate; nod Tecord. abie Am Invest TIl B c Q Kennecott Copper--2230¢ @ Aetunul-led. Contin 8t1 77, Am Surety ___ Bellows & Co C | Bos & Albany R. R. Bos Wov Hos & R Chesapeake Corp_. Ches & Ohio_Ry. Gfln!ln Stzel 7% First Nat stu Do. 1% vt & X | DOOOONBONNOLON O S E g £ORODOOOOOO! OO Kimberly Glark or-8150°@ *Payable in common stock. tHolders of voting trust certificates will receive dividend in voting trust certificates. yable in cash or stock, 1-40 of & U. S. TREASURY POSITION. By the Associated Press. ‘The position of the Treasury on No- vember 18 was:_Receipts, S17. 400,285,538 SPgaditures, | 334.800.064.60; bala 3.433 Teceldts for the ‘month, $10:578,508 11 Rete!nzs far the flscll ynr ((since .Yuly $1.397.585.336.23; expend; 0,587,053 08 (Including. - 81 11026751 emergencs. samaiin cess of expenditures o 646. ?r:‘:ss‘g ?!ht, !"flefifi";sflo“:l“l&lv o 5 @2y Goia nssels. S0.707458 1000 00 1934 {com- $1 35544 85 et balance, 81,500.89; custo: e month: 814, (T X il = 1 £1,300,- Receipt 1 5 800-302755: "ex"’e ""u 785 007 004, g,:lu.l.i;mylncl%dmdlw!l 536.1935%0 50 ot smerwency, expendioured; excess of expendi- gross deb! 209,042,128, 1 3 ,056.. 395947 gold assets, $8,056.12f FREIGHT LOADINGS. NEW YORK November 20 (#).—] treight car loadings On raiiroads resoriing yfa;:rddu for week ended November 16 in- Nugek Previous Last io. Illinols Centr =K ZN 215 ock 1sland. 500 Never has been since | NOVEMBER 20, 1935. CLIMB CONTINUED BY POWER QUTPUT Rise to Another All-Time Peak Shown in Edison Institute Report. By the Assoclated Press. NEW YORK, November 20—Out- put of electric power continued its uptrend into record high ground, reaching a total of 1,938,560,000 kilo- wa#t hours for the week ended No- vember 16, according to the Edison Electric Institute report issued today. The Associated Press adjusted index rose to 105.5 from 104 the week previous, indicating that the week's rise was contraseasonal. A year ago the index stood at 95.4. ‘The index, which is based on 1929-30 as the equivalent of 100, is adjusted for seasonal agd long-term trend. ‘The range of recent years follows: 1935. 1934, 1933. --- 1055 974 919 . 941 91.9 90.2 For the week ended November 16 the total was up 1.3 per cent over the preceding week and 14.6 per cent ahead of the like week in 1934. In the week ended November 9 the total was 14.2 per cent ahead of the similar week in 1934. All major geographic regions scored gains over a year ago. Percentage gains were: New England, 16.7; Mid- dle Atlantic, 10.8; Central Industrial, 21.4; West Central, 17.4; Southern States, 10.7; Rocky Mountain, 17.9, and Pacific Coast, 12.8. NEW YORK PRODUCE. NEW YORK. November 20 (#.-—Eggs, 2 Mixed colors: = Refrige '412a25. mediums. 28 colors unchlnned ; “firmer. " Creamery, H4a3435: extra (97 (80-01 scores), 32%a entraiized (00 score) " F3s Chees firm. Prices unchanges Live mullry llendy v.o Ann By treight Turkey: 21827 s. 16al8; other freight GERM PROCESSED A.T. & T. Declares Regular Dividend Of $2.25 a Share By the Assoclated Press. NEW YORK, November 20.—Direc- tors of American Telephone & Tele- graph Co. today declared the regular quarterly dividend of $2.25, payable January 15 to stock of record De- cember 16. ‘The dividend calls for a distribution of around $42,000,000 to the stock- holders. The company has paid this quar- terly rate of dividend uninterruptedly since 1921, —_— CLEVELAND CLIFFS IRON PLANS VOTE ON BONDS By the Assoclated Press. NEW YORK, November 20.—A spe- clal stockholders’ meeting on Decem- ber 9 has been called by the Cleveland Cliffs Iron Co. for a vote on an au- thorized issue of $16,500,000 first mortgage sinking fund 4% per cent bonds for funding its bank loans. The company also has arranged for a $5,000,000 bank loan for five years at 5 per cent. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) Offer. Allis-Chalmers Co. 55 1937 : Amer. Beet Sunr s 1940 ]lh. Am. Tel. & Tel. 5%as 104122 Atlantic Refinina 5 California Packing ‘:l l‘INn 0. 100% 102 113% 114 106%% Great Northern Ry. Siliois Gentyan 6uys 1 Intl. Tel. & Tel. 4%z Take Erie % West Michiasn Central § k8L 451 ..~when-vyou CHARTISTS DEBATE STATUS OF STOCKS| Average Up 228 Per Cent From 1932 Low and 59 Above Level of March. BY A. A. PATTON, (Associated Press Statistician.) NEW YORK, November 20.—Stock prices, as measured by the Associated Press average of 60 issues, have risen 228 per cent from the 1932 low, 59 per cent from the low of March, 1935, and 17 per cent since October 2. The broad advance during the last month and a half, penetrating both the 1933 and 1934 peaks, has stimu- lated Wall Street's old controversy: “Are stock prices too high?” ‘Those who take the affirmative point out that the average yield on a representative group of stocks is ap- proaching the 1929 level; that taxes on sale of securities at & profit have discouraged profit-taking, hence re- moved & buying cushion that ordina- rily buoyed a declining market; that the dearth of short selling has had the same result; that the unknown quantities represented by the Supreme Court, Congress and foreign affairs continue to threaten the price level. The bull proponents answer that in- dustrial activity has shown a sturdy improvement—17 per cent since May— and has, for the first time since the long downswing began in 1929, in- cluded the heavy industries. The higher level of industrial ac- | tivity has resulted in sharply rmngi corporation profits, the first nine | months this year being 24 per cent above the like period a year ago with | the third quarter showing more than | a 51 per cent gain, on the basis ot; reports now available. This, it is claimed, answers the criticism that ylelds are too low, that | some readjustment is necessary. Two things are certain . . . The thermometer is going down any night now . . . And Conoco Germ Processed Oil is not going down off your cylinder walls all night long! NOR ALL WINTER LONG. Never this winter need you risk dry, unlubri- cated, ruinous warm-ups, caused by oil that loafs in the crankcase. Instead, the patented Conoco Germ Process puts your winter protection up on the job, all through the engine, before you ever toe the starter. You can understand why . . . You know what a blotter does. The inside of your engine does something like that with Germ Processed Oil. This alloyed oil merges into the metal and stays .. gives you the famous reserve Hidden Quart, CONTINENTAL OIL COMPANY - e AGTIVITY MOUNTS AT GOTTON MILLS| Octoher Operations Esti- mated at 103.8%, Against 93.9 in September. 8y the Associated Press. The cotton spinning industry was reported today by the Census Bureau to have operated during October at | 103.8 per cent of capacity, on a single | shift basis, compared with 939 in| September this year and 97.1 in Oc- tober last year. Spinning spindies wm place October 31 totaled 29,656,536, of which 23.- 192,602 were active at some time dur- ing the month, compared with 29, 808,220 and 22,683,818 for September @ IN JANUARY this year, and 30,882,570 and 25 ,095,« 480 for October last year, Active spindle hours for October totaled 7,445,185,686, or an average of 1251 hours per |p1nd.le in place, com=- pared with 6,183,763,453 and 207 for September this year, and 7,184,521,524 and 233 for October last year, Spinning spindles in place October 31 in cotton-growing States totaled 18,305,554, of which 26995194 were active at some time during the month, compared with 19,307,648 and 16, 760,446 for September this year, and 19,361,468 and 17,403,244 for October last year. Active spindle hours in cotton-grow= ing States for October totaled 5,754, |618,294, or an average of 208 per | spindle in place, compared with 4,- | 641,037,414 and 251 for September this year, and 5303,860,814 and 274 | fer October last year. 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But you'll like your own proof best. 1st—drag- less winter starts, easy on the battery. 2nd—an oil level that stays up and stays up. 3rd—the summer-like feel of your engine, kept from rub- bing its life away by the Hi dden Quart PLUS the extra bigh film durability of Germ Processed Oil. Particularly if your car has the newest type bearings, remember that road tests show Germ Processed Oil far ahead of straight mineral oils in keeping the wear out of any type of bearing— copper-lead, high-lead, cadmium-alloy, or con- ventional babbitt bearings. Only your helpful Conoco man’s got ALL this wiiter protection for you. Come and get it todays Established 1 CONOCO 875 Maybe you go an exera block or %0 to find this sign of winter oif that takes you miles farther—safely — GERM PROCESSED PARAFFIN BASE MOTOR OIL Eu E Cp 6% 755 Y November 20 Ger Con Mun 65 '47. rating ORK. income of railroad: Festerday for October anl ded. (P —Net reporting Chesapeake & Ohlo_$4.545.517 Erle —oo 4050217 ”é RUBBER FUTURES. 20 (P —Orudl fy 7 Stesdy. 7 0 80% ! 1, 104 1041 N"ss/f 04l a‘ our correct grade always 907 Ml’ Ye 1 svailable—including 10W or 200 ec "6las Russia 5Yas ctfs ,’:“.,? Rus 6%s ctf NC 051 FRRRREH warranf n—-New xw—Without . wi—When Issu S Getn)—Sta o e ;Htlothhfllty mm-lred‘.y maturity. ‘Companies reported in' receivership. Nove, Bl 2ber 95! "'msv' NEW YORK, Ry, KoY rubber futures n*)u 195 10 1o May, 13.35!8.