Evening Star Newspaper, May 27, 1940, Page 21

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FINANCIAL. Loans on Completed Properties: (Owner occupied or rental) Favorable Rate FIRS1 OEED OF TRUS3 ONLY® 643 tndiags Avs N.W- FIRST TRUST MONEY ® Low Rates ® Prompt Service Monthly Payment Loans as low as $6.33 per $1,000, per month. CONSTRUCTION LOANS F. H. A. LOANS BOSS & PHELPS MORTGAGE CO. Loan Correspondent obn Hancock ) Lite Ins_ Co 7 BCoRw e Lie Dt G SAVE Your Money Safely Here you can safely invest $1.00 to $10,000. It will earn dividends, payable semi-an- nually. Every account in- sured up to $5000 by a U. 8. Government agency. NQRTHWESTERN SAVINGS & LOAN ASSN. No. 1 Colorado Bldg. NA' 7335 G 8t. at 14th N.W. Branch Takoma Pk. g INSURED kg N OPEN AN ACCOUNT Where Your Savings ARE INSURED Save at Interstate and enjoy the advane tages of high eaming power and utmost safety for your invest. ment (every account up to $8,000 fully insured). Ask for the complete facts. INTERSTATE BUILDING ASSOCIATION Washington Building 18th 8t. & New York Ave. Current Rates Prompt ‘Action Assured on applications for First Mortgage Loans with which to buy or build @ home; or to refinance a matur- ing trust. 3-Year Straight Loans or Monthly Payment Loans Also F. H. A. Facilities Consult us as to your needs. B. F. SAUL CO. 925 15th St. Na. 2100 Mortgage Loans Vast Auto Facilitie Ready for Shift To War Needs Obstacles to Tooling For Plane Engines Held Exaggerated By the Associated Press. DETROIT, May 27.—A mass pro- duction facility unequaled anywhere is available in the automobile plants for armament manufacture, says Ward's Atuomotive Reports in its current issue. “Painstaking survey of the present situation.” says the trade publication, “indicates that the widspread worry over tooling for volume output of airplane engines may be somewhat overdone; that our ability to pro- duce motorized equipment is avail- able almost in a twinkling, and that the stage for the transition from industrial to armament output has been fairly well developed.” The survey, it adds, emphasized these facts: 1. About 90 days is needed to clear toolmakers from their present jobs, and then a small army of craftsmen can be transferred to aviation, tank, truck and ordnance tooling. 2. Bottlenecks in plane output lie in individual parts of engines rather than in complete units. 3 Basic motorization of infantry | regiments can be turned to at & dazzling pace—practically at once. Preparations Made. “Insofar as production of military trucks is concerned,” Ward's says, “enough educational work of this sort has been done to grease the lines for true volume output. Some 12,000 scout cars, general utility trucks, ambulances and reconnaissance ve- hicles have been made for the Army in recent months. They have proved very satisfactory and War Depart- ment specifications for these are un- derstood to be fairly complete now.” Forecasting a drop in car and truck production this week to around 60,000 units because of the Memorial Day holiday and the like- lihood that most plants will remain closed on Friday, Ward’s speculates on the possibility of a production rise before the conclusion of the cur- rent model year. “There are interesting stirrings below the scene in the planning de- partments of the automobile com- panies,” it says. “Some of these came to the surface in decisions to fact that fleld stocks are high and the end of the model year near. “One conclusion that can be clear.” Model Plans C ity of Government requirements in- tion is a small one, Ward’s says: “At least one prominent firm in shifts in its planning for 1941 mod- els. This company had originally models for 1941. from their heavy hiring by atrcraft and aircraft auxiliary plants, the of this company, seen as abandoned stated by necessity 75 per remaining 25 per cent will not re- flect much change from current models.” Chicago Livestock CHICAGO, May 27 (P (United States Department of Agriculture).—Salsble hogs, 14.000; total, gpen 10-15 higher. 0_higher than Prid: .85: bulk good -pound ~ averages, 60-pound ay's Sa . 14.000; salabie calves, 1.500; largely steer run: yearlings and light sieers in liberal supplies: long-fed steers, scaling over 1,500 pounds, relatively scarce: market unevenly steady to 25 lower. with #00d to choice offerings showing most de- cline; “strictly choice s well yearling anrket. . ! steers held around 12.00; best early, 10.00; little having sold_early above 10.00, but sfzable supply 9.75 down to 8.75: heifers jieady o weaki ' common snd, medium s and all cows steady; latter class very searce: “bulls " fully steads 00 down: cuialabis thees. 5,000 tota rly active, 4 SRR, Sty nd wisar o it it SO b 3 o 11.25, with oui 555 "small 1% Matics 78-pound woolskins, §.25, With ous 8.25; 1 Swes, 2.80-5.50, me0NUm 40 welshty “1a¢ total. 7, Foreign Markets generally steady . Prices in several gections tends wer, but largely because Jack of e war news checked buying. Government bonds received moderate support, especially long dated issues. The new per cent mnv!nlondoln appeared for the first time, opening afld closing around . Do- mestic ra: and industrial leaders were trimmed a few pence. Kafirs stiffened toward the close after early neglect. Ofls and foreign bonds were ignored. 18_—Rentes held up moderately well y. Bourse but dor forelgn lssues Port panet fell back as support w: . Losses predominated among Jnlumm N A anteed issue lost 230. it London Bar Silver INDON, May 27 ().—Bi ) , flo‘fllr‘ (Equivalent (0..56 .ele'n'{l basis. 34.03). l 1885, inchanged. " (Ealivaicnt. 335883 New York Bar Silver NEW YORK, May 27 (#).—Bar sil- ver, 353, up %. real estate LOANS We have ample funds to advance on improved property in the District of Columbia and nearby Maryland and Virginia. Interest rates are low; easy monthly payments. No commissions or renewal charges. NORTHERN LIBERTY BULLDING ASSOCIATION Established 49 Years S11 SEVENTH STREET N.W. NA. 8171 MEMBERS Federal Home Bank S D ;-Elllu. s U.S. Savings and Loan League Under Supervision U, 8. Tresevry * * * augment operations despite the | Aetn drawn is that the auto makers are AR seizing time by the forelock to turn | Sosten (16 out cars while the opportunity is c" { N ¥ (1 hanged. Fi While asserting that the possibil- | pr, terfering with 1941 model presenta- Qo the industry has made wholesale H itended widespread changes in | & Now, as a result | Lincoln of shortage of toolmakers accruing | M; bulk of these plans have been aban- | ¥ doned. Interchangeability of models 53 & few weeks back, has been rein- | Erer through Reere™ cent of the forthcoming lines; the |Rh Isi Ins. strictly _choice heavy | & THE EVENING What Per Cont Seles of Automobiles,in the First 2 U STAR, WASHINGTON, D, €» MONDAY, MAY 27, 1940. hflnfirfl%flo’?’?’fi" Y o of 1940 Were of Sales y Averages for the United States in the First Quarter (Excluding Tennesses) 129.2%, AUTOMOBILE SALES IN FIRST QUARTER—The above chart shows what per cent volumes were of totals for the same period a year ago. B. & 0. Operating Net Totals $1,712,879 During April Result Compares With Only $1,044 for Same 1939 Month By the Assoctated Press, BALTIMORE, May 27—The Bal- timore & Ohio Railroad reported today net operating income of $1,- 712,879 for April, an increase of §1,- 701,835 over the net income of $11,044 reported in April, 1939. Net income for the first four months of 1940 was $6,576,605, an increase of $1,608,803 over the com- parable period in 1939. The Baltimore & Ohio Railroad totaling 49,946 reported car! for the week ended May 25, repre- Washingfon Exchange SALES—AFTER CALL. - Mergenthaler Linotype—25 a$ 12. Capital Traction 1st 55—$7,500 at 98. | ;' BONDS PUBLIC UTILITY. 1949 '7‘4‘ DO'& Anacostia & Pot 5s B Ana *I L Guar 55 1949_" 106'% Cap Traction 1st 5s 1947 _ "97% City & Buburban 1948 8 b5 1961 116 o 966 103 1980 195 100 102 Ga wy & Elec 43 MISCELLANEOUS. Ch Cl 15t 4%s 1057 103 Col"g'?ncnht &t Vs 1057 103 Ter RI & W Cp Ist 454 1045 100 STOCKS PUBLIC UTILITY. Amer Tel & Tel (9) _ Pot Elec Pow 6% pfd (8) Pot El Pw Wash senting an increase of 7,581 loads| Com over the corresponding week of last | Liberty (¢ year and 1,604 loads over the pre- vious week this year, Insurance Stocks RE. May 27 (%).—National As- | A NEW YO sociation Securities Dealers, Inc.: Aetna Cas (4a) Aetna Ins (1.6 a Life (1.2 Am Equit (1)~ Ins Nwk ( BRS iSR! e SuveeT e S 5 SEF izgns e F SEF FESERER SR Lan mor e 2R RS B Biaisn s B & ey 233 7! 39 1 27% 28% National As- hi s or firm bids or offers, but should indicate approximate prices. | Boston Wool Market BOSTON, May 27 (P.—(United States Department of Agriculture).—A waiting attitude prevailed in the Boston wool mar- ket today. Mills and topmakers were out of the market and dealers were not pressing wool for . The price situa- Hon remained unsettied because of the lack of trading. _Country packed - lehthe and quarter blood bright fleece Wools offered from accumulation points in the Midwest were quoted at 34-36 cents. in the grease. delivered to users. This price was’ lower than at the close of last but the volume of wool offered was ot 10 bt YoIT oderate and there appeared to be no sever¥ selling pressure. d bry Goods Market NEW YORK. May 27 (®.—Dry 3 routine inquiry from converters and print- ers for cotton goods: rayon. small lots of summer drt ed at steady prices: silk, inactive; wool ness small. goods, Sien’ soods, busi- Columbia (k.30) Real Estate (m6) 54 & Toth com (82.00 . 35 Wdwd & Loth pfd (7) - 318 *Ex dividend. + Plug extras. d 35c paid In 1939, e2 extra. g $14.00 extra December 2. 1039. k 20c extra. 2 s $2.00 paid in Di December 20, v$1.00 extra paid January, 1940, ¥ extra. Chicago Produce CHICAGO. May 27 (P.—Poultry. live. 38 trucks. Arm: hens. over 5 pounds, 14%a; 8 pounds and’ under. 16: 5; rotlers. 2 n gre zo’:mnm:m‘& ock. 23 White Rock. . springs. poun y Plymouth Rock, "37%: White Roo under -4 pounds. ~colored, 23; k. 25. White Rock. 25 ns, | '18-21: roostgts. 11; Toosters. 10%: ducks, 41 ored. 114; white, 13%; white. seese, 10; Bens. 549. steady: creamery, | 151,549, fr score. 28t 02, 28: 91, 25: 00. 25%: 5 5T B8 2a%: B0, centralized cariots 5%: eggs. receipts. 53.023, steady. extra local, 16%: cars. 16%: firsts. local, current receipts, 14: dirties, storage packed extras. I tes. U 8. No. 1. initial jce. 2.40-3.50: mostly 3 Bliss Triumphs. U, 8. No. 1. ‘washed. 40, mostly 2.60: few showine spots. i 0 b U. 8 No. 1. 5 : U, 8. No. 1 size B. washed. 1.50-1.60: Mississippi Bliss Triumphs. U. 8. No. 1. unwashed, 2.40: old stock supply light, demand mod- erate: Idaho Russets. market firm: Idaho Russet Burbanks, U. 8. No. 1, 2.50-75, mostly 2.85. Dividends Announted May 27—Dividends di by PFitch Publlnhins Co. Pe-_ Btock o Rate. riod. record. Resgular. lchaux Sugars “A”. 8-18 -50c 7 'se) Pendleton. 25¢c Q 6-10 7-1 it fenn 0N " -arise & 814 638 NEW YORK. clared. Prepared ".;.dc -. 6-8 6-15 United States Treasury Position By the Associated Press. ‘The position of the Tressury May 24, —The undertone ' Receip! compared with comparable date & year ago, May 24, 1940, May 24, 1939, 643,500 $7.322,073.50 1999.516.16 7.44 280.494.13 07.183.70 ,817,689.57 40.240,436,500.73 15.026,683.465.68 3Le fiah’onal perfianenlfi Direct Reduction Plan MEANS A SUBSTANTIAL SAVINGS IN INTEREST CHARGES ALONE Each Month You Pay Interest Only On The Actual Unpaid Balance 0f Your Loan For nearly a half century this company has been making “home loans™ on prop- erty within the District of Columbia. . . . Recently we extended our service to per- sons wishing. to buy or build in nearby Virginia. WE: INVITE YOUR CONSIDERATION NATIONAL PERMANENT BUILDING ASSOCIATION UNDER SUPERVISION OF 719 TENTH STREET, N. W. UNITED STATES TREASURY NATIONAL 0254 MEMBER OF: Home Loan Bank System e United States Building and Loan League e District of Columbia Building and Loan League | young toms. WashingtonProduce 3 score. tubs. 28%; 1 pringes BTy eread g, < ada score, tubs, 2 prints. ul 1-pound prints. 26 nd prints, 26%: Ja-bound prints, 27. —Calves, 10%: spring lambs. 11 01 Tl Prices paid net id net £.0.| Cotton Prices Swing Over Wide Range On War Reports Changes Range From 25 to 30 Points or More in Day By the Associated Press. NEW YORK, May 27.~Primarily under the influence of events in Europe cotton futures swung over an exceptionally wide range lagt week. Price movements on most days were 25 to 30 points or even more. Following a sharp upward move- ment on Monday, prices dropped heavily on Tuesday to approxi- mately the low levels reached on the previous Saturday. Thereafter the general trend was upward. In the New York Cotton Exchange the old-type July delivery showed a net advance for the week of 58 points and new July & net advance of 56 points. New crop deliveries from October to May showed net : | advances of 27 to 29 points. Follows Armies. The cotton market tended strong- ly to advance on news favorable to the Allies and to decline on news unfavorable to them. Analysts said recent reverses by ‘the Allies have jces | De€N of marked importance not only because of their broad eco- Dres: | nomic implications but also because rds 1 andards, U, 8. standards, . 8. trades, 1¢-17 xtras, large. 20 - B. standards. jlum. 16-1 U. 8. trades, 14-17 cenfs. Por ngraded egss. Current receipts: s, 16%; cents. few higher. Mixed colors. 15% cents, few higher. LIVE TRY-—Market about Fowl: Colored. [} 1 cents: ers. 8-10 cents. Chickens: and fryers. all sizes, o 2. 14-16 cents. Delaware roilers and pounds, cents. old: hens, 13 cents, c Toms. 16-11 cents: 3 gm and '-mmO'-XO New York Produce NEW YORK, May 27 (P).—] days’ receipts). 56.618; weak. ou—Plnc‘ to extra fancy, 183,20 . 18%: storage pac sts, 18: current receipts. 15%a: irties, No. 1. 14%: aver- l({wgheck.l 14- . P "‘:l—ltlkl of mvnmlum ml"kl. 2. iwestern ) Y e il : i WL heavier mediums. 17-19%: mearby and Midwestern mediums, 16! Bro'nl-—l!e‘:'rbl. o ipts), 1.704 082: me: er (92 score). 2634 Ya: seconds (54-87), 24%a- Cheese_ (two _days' eipts). 337.635: steady < state. whole milk Aats. held 1950 20-21- fresh. 15V-16. essed pouitry irregular. Presh: Boxes. (36-42 pounds). 15-20: ' (48-54 ). 18, 60-65 pounds). 16%-2113, X 15. Barrels. ducks. Long . fowls (36-42 pounds). '18-21: 6%-211a Chickens. fryers. 2! ., Old roosters, turkeys. Northwe : youns toms. 10i. Western young hens. 21-24%: 19-2214: Southwestern young hens. 15-23: young toms 15-21. Live poultry. by freight. slow. Chickens. 7 14-15. oOid lored 8, Leghorn, low. Broilers. Rocks. 24-24: : Leghorn, large. 20: small. colored. 17-17%. some 18; hern. 15. Old roosters, 12. 23-24 16%. Fowls. Leghorn, Sout : U. S. Treasury Notes YORK. May 27 (P. NEW ices quoted in dollars and’ thirty-seconds: ] & i3 E3Fa e+ 1Y EEzERERsRRRCR .. § o 3332232322223, SEEERER3NRNEEST [Uromoroo 5! 53, 3 S5 g233328338582 GRS RGSS 7R3 REERNERERNGR E| 3 22 o 3 Metal Market A 8.| NEW YORK. May 27 (#.—Copper steady: ele c spot. ) -y, Cgnnecticut ' Valley, export. fa.s. lew York, Tin steady, spot and, nearby. lorward, .50. y y, spot, k. 5.00-5.05; East 8t. Louis, 5.85. East 8 Piy dy, 1.0 ania. 24.00; Buffalo. 23. sma, 1038, Aluminum. Virsin 96 per cent. 19.00. Antimony. Chinese spot. 14.50. Quicksilver, 192 .00, nominal, Plati- Chinese wolframite, Domestic scheelite. 22.00. of the progressive cutting off of foreign markets for domestic and foreign growths of the staple, ac- cording to trade sources. The trade observed that at the recent low levels spot cotton in the South was substantially below the . | price at which cotton would be at- tracted from the present Govern- : | ment loan stock and that new cron futures were below prospective minimum Government loan rates on the new crop. These facts un- ho 7 doubtedly resulted in a substantial demand for futures contracts and contributed to the upward move- ment of prices during the latter investment purchases on these fac- tors. Spot Situation Unusual. ‘The cutting off of repossessions of Government loan cotton through the recent price decline resulted in an unusual condition in spot mar- | ets. Although export demand for spot cotton has been greatly reduced by the war and by uncertainty as to 8. | an export subsidy on the new crop and domestic, mill demand has been limited dué to slow sales of cloth. —_— e DO AS OTHERS DO! Hundreds of thrifty people have found Prudential accounts a financial haven—be- cause they are both safe and profitable. LUMP SUMS or monthly deposits. Every account is insured up to $5,000. FINANCIAL. Total demand for cotton in spot markets of the South was sufficient to lift spot cotton sharply relative to prices of the nearby July future delivery. These advances were dus to the fact that the supply of “free” spot cotton to meet the needs of the trade until the new crop becomes available is much below normal, analysts explained. Warehouse Occupancy Gains During March B tbe Associated Press. Reports from 406 firms to the Bureau of the Census indicate that the percentage of space occupancy in public merchandise warehouses at the end of March was 73, compared with 717 per cent at the end of Pebruary. The greatest increases were in the Middle Atlantic and South Atlantic divisions. Decreases were shown in the West North Central and South Central areas. Refisa mmn'*‘:un 4% INTEREST NO COMMISSIONS ni BUILDING LOANS >~ HOME BUYING Columbia A Loan wil T s A-21 Sales of Baby Bonds Ahead of Year Ago By the Associated Press. The Treasury reports that sales of baby bonds during the first 23 days of May totaled $52,512,165, an increase of $7974,205 over the cor~ responding period last year. REAL ESTATE LOANS 4Y2% Fred T. Nesbit 1010 Vt. Avae. D1 9392 TO FINANCE INCOME-EARNING PROPERTIES £E~ WEAVER BROS ¢ 7/;/7' WASHINGTON BUILDING DISTRICT 8300 {11 REFINANCING Federal solve your Spring building problems. o All PASS BOOKS show new loan balance after each payment. balance. ® No red tape or waiting. Loans Available in D. C. or Nearby Maryland and Virginia 4% 0L UMBIA FEDERAL monthly payments applied directly to loan ® No commissions or re- newal charges. INSURED ON IMPROVED D. C. AND NEARBY MARYLAND PROPERTY For buying, rebuilding or refinancing at prevailing rates of interest. Loans repayable monthly. No charge for appraisal if loan is not made. Interest charged only on unpaid balance of principal. Equitable Co-operative Building Association 915 F ST. N.W. ORGANIZED 1879 ‘’"He’ who is HIS OWN LAWYER. .. " While the drawing up o[ a Will is 2 highly personal matter, due regard for your own wishes and your family’s future welfare, demands it be drawn up by your Attorney, in the proper legal form. Equally essential is deliberate consideration of whom to name as an experienced and capable Executor or Trustee. We invite you and your Attorney to investigate American Security’s Half A Century record of Estate Administration. AMERICAN SECURITY & TRUST COMPANY @AIN OFFICE: FIFTEENTH STREET AND PENNSYLVANIA® AVENUE CENTRAL BRANCH: TTH AND MASSACHUSETTS AVE., N. W. SOUTHWEST BRANCH: SEVENTH AND E STS., 5. W, MEMBER: FEDERAL DEROSIT INSURANCE CORPORATIOR @ NORTHEAST BRANCH: EIGHTH AND H STREETS, N. E. NORTHWEST BRANCH: 1140 FIFTEENTH ST,, N. W, FEDERAL ‘RESERVE SYSTEM

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