Evening Star Newspaper, November 1, 1937, Page 14

A—14 s»» VOTING WATCHED BY WAL STREET Hopes for Hints on How Political Winds Are Blowing. Bo the Associated Press. NEW YORK, Nov. 1—Local elec- tions scheduled tomorrow, particu- larly the New York City mayorality contest, will be watched closely in ‘Wall Street for hints on how the po- litical winds are blowing. K Organized labor’s bid for political power in some cities gives the im- pending balloting added significance in financial comment. Whether labor has been “on the make” politically in the big Eastern and Northern indus- trial centers has been a big topic of interest for Wall Street since the sweeping advance of the Committee for Industrial Organization unions in the mass-production industries last winter and spring. Beyond the local contests loom the eongressional elections of 1938. They are a year away, but the maneuvering for those contests is expected to be- gin in the next few months. Since the avalanche of Democratic votes last November intrenched the New Deal in power at Washington for another four years, stirring events have passed on both the financial and political stages. Commodity and security markets in the interval have looped through one of the widest orbits in memory of Wall Street veterans. After the New Deal landslide at the polls, commodity prices shot skyward, continuing up into early last spring. Meanwhile they have lost all those gains and then some. Similarly stocks moved ahead, only to become snagged last spring and plunge down on a de- cline resulting recently in breaks rem- iniscent of 1929. Business, too, has marched uphill and down in a rather wide swing for one year. So far industrial recession has been moderate, compared with the fall in stocks and raw materials. But the possibility it may go farther keeps financial ears alert for political reper- cussions. So extensive a washout of paper values as the country has seen since spring, plus curtailment of in- dustrial activity, hardly can fail to have political echoes in one way or another, Wall Street reasons. Some commentators have sought to read in the recent shift of Federal money controls, notably the lowering of margin requirements against stock purchases, signs of a moderation of the New Deal program for economic change. Close on heels of the an- nouncement of the margin changes by the Reserve Board last week came reports from Washington of probable changes in the capital gains and un- divided profits taxes with administra- tion sanction. Many Wall Streeters gave credence to these reports, assuming the $25,- 000,000,000 August-October drop in se- curity values in itself would be an incentive to caution in Washington. Skeptics, however, have warned Wall Street to keep a “show-me” attitude, reminding & special session of Con- gress is just around the corner to sonsider legislation left over from the last session. One Brake Clue to Other. If the hand-braking system uses the same set of brake shoes as the service-braking xystem you have a handy way of knowing when the brakes should be adjusted. As the linings wear the hand-brake lever will have to be pulled back farther in order to hold the car. In the old days it was safe enough to assume if the hand brake didn’t hold well the service, brake did, but with many cars today this assumption may lead | to trouble. S e Speed Limits Changed. Both Pennsylvania and Mississippi have raised the speed limit from 40 to 50 miles per hour. Alabama has abandoned its fixed speed limit and has adopted the provision for speed being “reasonable and proper,” similar to the plan formerly in force in Con- necticut. Vermont has switched from the “reasonable and proper” speed limit to a definite limit of 45 miles per hour for passenger cars, 35 miles per hour for trucks. INVESTING COMPAN|ES NEW YORK. Nov. 1 (P.—New York Becunity Deaters' Aasociation: (Noon' quotations.) Admin Fd 2nd Ine____ Basic Industry Boston Fund Ing EERER SRR L L 01D D DB Fund’ Investors” Inc Fund Tr Shrs Fund Tr Shre B- Gen Capital Corp_ Gen Investors Tr Group Sec Agriculture Group Sec Autoraobile Group Group Group Group Group Stroisem TSR AND IR B FI I NS B DO DN BN DI IR N D DS or Holding Incorp Investors Instl. Instl Investors eystone eystone Cutodi eystone eystone Keystone Pt o e o 0969 CON WD 1911315H00 100000 ~T00IICIN= LI S ubh'ghhbhbn'aahlllfiaqham-mza ini D2 - C) X B e North’ Am_Bond Tr o Am Ir Shares Tr 80 195! or Am Tr 8h 1888 8h 195! Bea ™ et srierly Income ek st Hutton & lected p{m 8h_ Inc " e SRS PR R Skt et .- lfi it emnnu nm‘:-' 7 02k B3EIR335358% - l Baltimore Markets I Epecial Dispatch to The Btar. BALTIMORE, Md., Nov. 1.—Pota- toes, per 100-pound sack, 75a1.80; sweet potatoes, bushel, 35a75; nearby, half bushel, 20a30; white yams, 35a65; beets, dozen bunches, 20a30; nearby, bunch, 2a2l2; broccoli, crate, 1.35a 3.00; brussels sprouts, drum, 2.25a2.50; quart, 12a15; cabbage, Danish, bushel, 50a55; 50-pound sack, 40a60; North Carolina, pointed type, hamper, 75a85; carrots, bushel, 65a90; California, crate, 2.75a3.00; nearby, bunch, 2a3; cauliflower, crate, 1.50a1.75; ocelery, crate, 1.75a3.50; cucumbers, bushel, 2.50a3.50; eggplants, crate, 4.50; let- tuce, California, iceberg, crate, 1.50a 2.25; mushrooms, 4-quart basket, 50a 65; onions, 50-pound sack, 85a1.40; peas, bushel, 2.50a3.00; peppers, bushel, 60a75; mnearby, half bushel, 20a35; spinach, bushel, 50; nearby, half bushel, 25a50; squash, bushel, 2.00a 2.25; tomatoes, California, lug, 1.60a 2.25; turnips, nearby, purple tops, half bushel, 20a25; yellow, per 100 pounds, 90a1.00; apples, bushel, 25a 1.25 box, 1.90a2.10; cranberries, quarter-barrel box, 2.65a3.25; eight- barrel box, 1.40a1.60; grapefruit, box, 1.75a2.75; grapes, Eastern, 12-quart basket, 25a35; 2-quart basket, 10a12; honeydews, crate, 1.40a2.00; oranges, box, 1.40a3.50; pears, Eastern, Bart- letts, bushel, 1.00a1.50; Anjous, bushel, 1.00a1.25; Seckels, half bushel, 1.00a 1.40. Dairy Markets. Live poultry — Chickens, Rocks, pound, 23a28; mixed colors, 20a23; Leghorns, 20a22; fowl, Rocks, 22a2. mixed colors, 20a22; Leghorns, 14al17; roosters, 12a14; ducks, 16a20; guineas, each, 45a70; turkeys, pound, 23a28. Eggs—Current receipts, dozen, 29a 30; whites, large, 35a36; medium, 32a 33; receipts, 971 crates. Butter—Prints, pound, 37a38; good to fancy, creamery, 36a37; rolls, 28; packing stock, 26; receipts, 797 tubs. Live Stock. Cattle, 1,000; rildly active trading on steers; she stock and bulls generally steady to 25 cents higher than close last week; load 1,190 pounds steers, 11.80; bulk plain and medium grades scaling 950 to 1,180 at 10.00 down to 8.50; slaughter heifers mostly kinds to sell from 6.50a9.00; plain and medium fat cows mostly 4.50a6.00; few on heifer order to 7.50; low cut- ters and cutters mainly 3.25a4.25; shelly kinds 3.00 and less; odd head plain and medium bulls, 5.50a6.75; scattered sales 800 to 1,100 pounds feeder steer, 7.75a9.50. Calves, 475; steady with close last week; good grade vealers, 12.00a12.50; cull, plain and medium grades, 7.50a 11.00; weighty grass calves, 6.50a9.00. Hogs, 1,300; steady with Friday; 140 to 220 pounds, 10.05a10.30; practical top, 10.30; 230 to 250 pounds, 9.75a 10.05; 260 to 300 pounds quoted 9.00a 9.50; 120 to 140 pounds, 9.55a10.05; good packing sows, 8.30a8.80; stags quoted 7.75 down. Hogs from doubt- ful areas and those fattened on gar- | Astna Tns (1. . THE EVENING STAR, WASHINGTON, D. C, MONDAY, NOVEMBER 1, 1937. Washington ' Produce BUTTER—92 sco tu 83 . bage or awill not represented in above prices, A Sheep, 1,600; no early sales or in- dications up until 11 a.m. in fat lambs trade; slaughter ewes steady with close Iast week, from 3.50 to 5.00; old thin sheep, 1.50 to 2.50. Grain Market. 8 Opening prices were: Wheat, No. 32, red, winter, garlicky, spot, domestic, 1.01%; November delivery, 1.01%. Settling prices were: Wheat, No. 2, red, winter, garlicky, spot, domestic, 1.01%; November delivery, 1.01, Cob corn—No. 2, yellow, domestic, oid, 80a85; ¥ /estern billing at a prem- ium over this price; cob corn nominal. Oats—No. 2, white, domestic, 42a4: No. 3, 41a44; Pacific Coast No. 1 white oats, 70; except grain on track, there is an additional charge of 14 cents per bushel for storage and elevation on all o sales of oats. Rye—No. 2, 95a1.00. Barley, 70a75. Hay and straw unchanged. LEADING U. S. MARKETS TO CLOSE TOMORROW By the Associated Press. NEW YORK, Nov. 1.—Principal American security and commodity ex- changes will be closed tomorrow in ob- servance of election day. Chicago exchanges, however, and|min several commodity and live stock markets will remain open. European markets, with the excep- tion of Paris, closed Monday and Tues- day for All Saints' day festivities, wil! operate as usual. INSURANCE STOCKS NEW YORK. Nov. 1 (#.—New York Becurity Dealers' Association: Jaa sked. Aetna Cas 2) 73 Aetna Life (.80a Am Equit (i.60 Am Ins Nwk (laa) _ Automobile (1a) _ Balt Amer (.20a) _ Garoline (1.30) of N'Y¥ (1.20) ComnGen Lit (80 Contin Cas d & De) Glen Falis (1.60) Globe & Rep, (.800) Globe & Grew: Kmer 1) Hanover (1.60) Hartford Fire (2)° Home Fire Sec Home Ins (1) Homestead (1) Knickerbocker 80)” Lincoln Pire Maryland Cas Mass Bond (3%) Merc Ins Pr (.15 Natl Fire (2) Natl Liberty (.208) Prov_Wash (1) Rever (P) In (1 30)" Rh Isl Ins (20g) Rossia Ins (i2g) St Paul Fire (6a)__ 1Y) - Travelers (16) U 8 Fire (2) Westchester (1.20a) Also extra or extr & Drclared or paid 50 far this year. b Diamond Shoe Corp.—A. 8. Beck Shoe Corp., subsidiary, reduced price for men’s shoes from $4.45 to $3.98 a pair. SYagys lieht hogs, gvns:} mediums, 8 iabr 230- 280 5 Nea: SaSTer ows.. EAT: Siek: dafia; calves. Tao. 8—Market just about steady at un- ehan:-d prices. Government ded and dateq Jrnites. U. 8. exira lari tras, mediui u. ums, Nearby “un Clirrent " recelpts, " 28-29: W teg, |3 VAISIne promiutn paid on fancy Jots, PAL- tiularly Inrger sizes, TRY—Market nominal: quiet to lmllnled on turken Fowl—Colored, 18-2: 3-14; Leghorns. chlekem—nocu o 2 bounds, 27-28: pou 5 unds and up, EiNed “ootors, 2023 " Butkeysrr 10215 pounds, 24-25: toms, 1418 3 3; No. 25 and old furkexe: 28, Hen ul 3 pounds and over, 50 each; under 2 pounds, 40 each. Fruits and Vegetables. Bll!l in lll’n lots by original receivers up,io 8 am, tode emand ' fai arkei o Feamaivanis, Virsinia d. *Vin inis, Stayman. 2Y-inch -6 h It 1d¢ 2Ve-inch kflg -85 2‘ "nc}ll'x mi‘nl‘ Ilm. i3 0 ehouse. 2%-inch minimum. 60- iy smx‘-’wn inimut, 5-Rb. WemlthyE, minimum. 50; 2': inch minimum, igs. -inch minimum. e xtra fancy and faney, Ghmbination 2700; Go olden Delicioys, 1.28- Pancy— l ? 1]{51!]1!:(!}?‘ 1.10-1.50; d! liclous, -1 l‘lfl? junplies light; demand light market steady. trll!ll. :unfh‘ed &L et hu!Ch' L Truck uceluu "b!rl] Snflglflllfiubtl’xl‘li flde te low; market weak. "Lonk Island. cra i “CHLERY - Suppiies demand ew York, washed, Ya-crates mostly KAL!—-BIIDDlI(fi light: demand light: mll’kll steady. Virginia, bushel baskets, plies light: demand Virginia, bushel bas- CUCUMBERS—Supplies moderate: de- mand lght; market steady. Florida, bushel bagkets, U, 8o, 1. 3.60-375, few w 4.00. QUASH—euunnu me demand hi ket ateady. Florida, bushel hame 1.75-2.00; yellow, PLAI uppli light; démand R T rior 113-bushel grates 5.60-4.00; choice, 2.00-.50; bushel hampers.” 3.0 PESPERS. Supoli oderate: demand light: market steady. 1'4-bushel crates. green, fancy few 2 COLLAR! DS__Suppl lizht; market stes kets.' 40 A—Supplies market steady. Flori 3.00 B8 —Eastern stock: Supplies light: ght: market steady. New ¥ 2-quart climax baskets Concords. fornia, lugs. Thompson seedless, 1.50: few 1.75: Tokays 1.40-150. PEAS—Supplies demand light; markel steady. Califorhia; “bushel ham- pers. Telephones. 2.85-3.0 ACH—Supplies maderno light: market steady. Penn baskets. Savoy type. 40-80. SWWET POTATOES—Sup ate; demand light: market st Oarolina and Virginia bushel to Ricans. 60-72 "ATOES—Supplies market i demand light: bushel hampers, dnnlnd 1 Jdgmand bushe] ies moder- dy. ~North skets. Por- moderate: de- steady. Pennsyl- und sacks cobblers. U. 8. * 110-505¢ Maine. Ina-nound sacki Green Mountains. U. 35- Idnéo. 3 00-pound s h Roaset Bursanks, NS Sapplies light: light: marker stonge. Eastern Shore Maryland, bushel hampers. 3.00-3.25 GE—Supplies moderate: demand light; market steady. Pennsylvania, 50- pound sacks Danish type. 50-60. SNAP BEANS—Truck receipts moderate demand lupplu nod'nu. demlnd Il‘hl, market Bat Type. 3 283,00 Tew, "3 20 00" 1o eondmon 200, " 0 4 -Plorids loxn, 76-1.00. 'ennsylvan! per dozen B iunchu SPROUTS—California: 25- o drums, 2.80-2.75. OOLI—California: 3.00. Pennaylvanis: Bu CHRSTNUTS -Italian, 7.8 und. RABAPPLES —New ¥ork: Bushel bas: Kete 200 CR. RIES—Massachusetts: Ys-bar- Tel boxes. %80, 278, "l':lt LiMks plorids: Box MUBSHROO! vanis. 3-pound_baskecs, 40 GRS __Florids a8 to grade and w.r 5% —Ptnnlylvnnll Ya-bushel b 5, PARSNIPS — Peansylvania: Y-bushel baskets, 25-4 PEARS—Oregon: Boxes, Bartietts, 250- ERSTIMMONS—Virginis, 6-basket erates 128 Pmnrfl.fl-—cuh- Crates. 4.00. MATOES—California: Lug xes, r-wned.l«xn tha Tavaer, lower. 275 TURNIPS—Pennsylvania: Bushel leu. topped, 50-65; 25 per dozen bunchen BELGIUM GUARDS GOLD Underground Strongrooms Will Resist 200-Pound Air Bomb. BRUSSELS (#).—Reinforced con- crete underground strongrooins, capa- ble of resisting 200-pound bombs dropped from 6,000 feet, are being built at Ostend for the Belgian Na- tional Bank. Intended to protect the bank’s gold stock against air attack, these “strong- rooms” will have walls 6 feet thick. Ostend was chosen because from there the gold could easily be shipped abroad if necessary. - = New Models Always Secret. News of new models is conveniently kept secret in the automotive world by Dame Rumor. Every one has some- thing to say about the new models with the result that one guess is as good as another. This is true even among thdse reasonably close to the factories. The appearance of many experimental models on the streets of Detroit and other motor centers fur- ther complicates the guessing. Strange Road Materials. London has two blocks of rubber paving, while in Queensland, Australia, some roads are made of flat rubber tires. Rubber is also used for joints between sections of concrete highway. In Germany some of the latest high- ways are of aluminum. When mixed k. with tar and asphalt surfaces powdered aluminum is said to be effective in lessening the softening of such roads in hot weather. Special Tires for Snow. This winter more motorists will equip their cars with mud and snow tires. These are tires with special treads that offer exceptional: traction both forward and backward. An im- proved tread is said to be self-cleaning. Pensions to Tinplate Workers. Tinplate workers of Wales are to be allowed to retire at 65 on a pen- sion of $5 & week. :|Private Bailding Is Up 48 Per Cent In Southern Area BALTIMORE, Nov. 1.—The Manu- facturers’ Record reported today that private building in 16 Southern States in 10 months of 1937 increased 48 per cent over the same period of 1936, but that public bullding dropped off 13 per cent. Contract awards for private con- struction were $158,846,000 to October 30. Apartment and hotel construction showed a 37 per cent increase over last year, while dwelling buildings WAS up 43 per cent. City, county, Federal and State projects totaled $89,960,000 in the first 10 months. Industrial building dropped 15 per cent and water works and sewers, 26 per cent. Private construction contracts were let in October for $15454,000. This sum was 4 per cent above October, 1936, but 12 per cent less than Sep- tember of this year. An increase in school awards this month sent public building contracts to $10,605000 as compared with $9,865,000 in September. School con- tracts were $2,996,000, almost 56 per cent higher than in September. TWO UTILITY COMPANIES GIVE SPECIAL DIVIDENDS By the Associated Press. CHICAGO, Nov. 1.—Public Service Co. of Northern Illinois and Common- wealth Edison Co. announced special dividends for holders of common stock. Common stockholders of record November 10 will receive a spectal dividend of 80 cents a share Decem- ber 1. Commonwealth Edison stock- holders of record November 10 will receive 311, cents a share special dividend also on December 1. Commonwealth Edison, the com- pany said, had on October 28, 81.9 per cent of Public Service Co. of Northern Illinois common stock and 70.4 per cent of the total common and pre- ferred shares. The transfer was in- cluded in a bank settlement concern- ing assets pledged by Insull Utility Investments, Inc, and Corporation Securities Corp. of Chicago. CROSLEY RADIO SHOWS THIRD-QUARTER DEFICIT CINCINNATI, Noy. 1 (#).—The Crosley Radio Corp. reported a net loss of $115,735 for the quarter ended September 30, compared with a net profit of $117,870 for the third penod last year. The company reported a net profit | of $103,581 for the first nine months of 1937, after payment of Federal in- come tax, and before undistributed profits tax was paid. This was equal | to 19 cents a share. Earnings of | $1,390,326, equal to $2.54 a share | were reported for the corresponding | period last year. | STEEL PRODUCTION OFF 3APER CENT Operations Are 48.6 Per Cent of Capacity for Low- est Since 1935. By the Associated Press, NEW YORK, Nov. 1.—Operations in the steel industry for the current week declined 3.5 points to 48.6 per cent of capacity, compared with 52.1 per cent last week, the American Iron & Bteel Institute estimated today. A month ago operations averaged 66.1 per cent of capacity, while a year 8go the rate was 74.7 per cent. The drop, the seventh consecutive week of decline, carried the in- dustry’s production rate to the Jawest since the end of 1935, From about the middle of September the steady decline has been one of the severest in many years for steel makers. At the recovery peak last spring the industry for a while set & new production record for ingots, with the operating rate above 92 per cent of capacity. The autumn decline started with operations in mid-September around 80. In the absence of aggressive new buying, producers have worked off large backlogs accumulated earlier in the year and cut production to the hand-to-mouth buying policy pursued by consumers. This cautious buyving TC PURCHASE OR REFINANCE INTEREST as low as 5% NO COMMISSIONS. NO RENEWALS. has been attributed by trace authorie ties partly to & desire to reduce ine Vventories and to hold out for possible price concessions, following the recent drop in stocks and raw materials quotations. WOOL MARKET SLOW AT BOSTON IN WEEK By the Assoclated Press. BOSTON, Nov. 1 (United States Dgpnnmem. of Agriculture) —Business in the wool market was slow the last week. Quotations were {irregular. Some houses weakened while others refused to revise their price ideas in spite of uncertainty in the goods mar- ket and resulting lack Of interest by manufacturers. A limited amount of selling appeared on distress lots at prices considerably below quotations on most voluntary offerings of spot wools. Grease basis prices on offerings and a few small sales of combing Ohio fleeces ranged 35 to 37 cents for fine delaine, 37-38 for staple combing length half-blood, 37-39 for threee eighths and 36-38 for quarter-blood. Miner Digs Self Out. Buried to the waist in ore in the New Occidental Gold Mine near Co- bar, Australia, John Silver could not be released by miners, so dug with a miner’s can for 24 hours until free. A boulder resting against Silver's back weighed 2 tons, . Members of the Union Defense Force in South Africa are protesting against being compelled to rise when pictures of the King are shown or the British national anthem is played in motion picture theaters. savings here are protected by Federal Insurance wp to $5,000 Your Kaey Monthly Payments as Low a: $7.50 per $1.000 COLUMBIA BUILDING ASSOCIATION 716—11th St. N. W. Opposite Palais Royal DO AMERICAS FLIERS APPRECIATE THE COSTLIER TOBACCOS IN CAMELS ? YOU bet they do! In aviation is one of the most loyal groups of Camel smokers in the country. For ex- ample, the famous transcontinental record holder, Col. Roscoe Turner, smokes Camels. So do test-pilot Lee Gehlbach, Capt. Frank Hawks, and TWA'’s chief pilot, Hal Snead —to mention only a few. As Col. Turner puts it: “I guess you’ve noticed that men in aviation are great smokers. And, from what I see, most fliers share my re- gard for Camels. They need healthy nerves. That's one big reason why so many of us stick to Camels.” - And many millions of Americans—more people than smoke any other cigarette in the world—give a hearty o-kay to Camels! WINIFRED CAS- ‘TLE works long hours at her editorial desk — smokes a lot. She says: “I can smoke as many Camels as I please and they never get on my nerves.” WARREN PIAGET, crack salesman, drives 50,000 miles—and more a year. “Do I get tired, tense?” he says. “Sure! And it's swell the way Camels give mea lift".” cially PETER KILLIAN is a news photographer. His slant: “Camels are always with me—espe- at the table. Camels help my diges- tion to keep clicking day after day.” Camel spends MILLIONS MORE FOR COSTLIER TOBACCOS! Camels are a matchless blend of finer = MORE EXPENSIVE TOBACCOS «=Turkish and Domestic. EDWARD HURLEY, a successful, busy ar- chitect, says: “To my ‘way of thinking, a man deesn’t really know what honest-to-good- ness flavor means until ED GRAFFE, gym in- structor, says: “Yes sir, Camels set me right— and that takes in a lot of angles. It means I can smoke all I please without getting jangled nerves.” MARIE DRISCOLL, girl, say: have every- thing I like in a ciga- rette. I enjoy amoking a lot more since I've found out how appeal- ing Camels are!” GENE ENGLISH, ra- dio engineer, notices ‘what cigarette the stars seem to be the favor- ite.Ismoke Camels my- self. They don’t make my throat scratchy.” NEW DOUBLE-FEATURE CAMEL CARAVAN Two great shows—"Jack Oakie College” and Benny Goodman’s “Swing School”— in one fast, fun-filled hour. On the air every Tuesday night at 9:30 pm E.S.T., 8:30 pm CS.T, 7:30 pm M.S.T,, 6:30 pm P.ST, over WABC-Columbia Network. me LARG ‘Gopright, 1997, B. J. Reyneiés Tobocos Company, Wineton-Seiem. Merth Careiing EST-SELLING CIGARETTE IN AMERICA \