Evening Star Newspaper, January 6, 1942, Page 17

FINANCIAL., NEW YORK CURB MARKET New Car Ban Ends " Jobs for Thousands Of Salesmen Dealers Cut Staffs Estimated at 150,000 To 200,000 Persons By DAVID J. WILKIE, Associated Press Writer. DETROIT, Jan. 6.—Harder hit than the motorist by the war emer- gency ban on passenger car produc- tion and sales are the thousands of | automobile salesmen for whom there | is no work under the contemplated rationing program. It has been estimated authorita- tively that by the end of January | there would be approximately 650,- | 000 passenger vehicles in the hands | of the 38,836 dealers throughout the | Urited States. In the final distri- | bution of these units, many of ‘which can be seen in dealer lots or in warehouses, the dealers probably | will net some profit on their original | investment, but there is to be no sales promotion and consequently no income for salesmen. 1 Used Cars Moved. Used-car sales still are permitted, | and brisk sales of gcod second- hand machines are being enjoyed‘ by new-car salesrooms at the mo- ment. Many customers, who were planning t6 purchase new autcmo- biles just before new-car sales were banned by the O. P. M., are taking late used models as the next best thing. But new-car dealers say the sec- ond-hand business is limited by stocks, and as used cars on hind dwindle, many new car seles estab- lishments may close up shop, leav- | ing the used-car trading to the established used-car dealers. Besides the thousands of car sales- | men laid off, many have voluntarily resigned and sought other employ- | ment. The number of persons en- gaged as car salesmen has been esti- | mated variously at 150,000 to 200,000. Whatever the total, consicerably more than half of them already have been laid off, and the remainder will be as soon as car retailers adjust their affairs to meet the new condi- tions in the industry. Workers Also Hit. Also seriously affected are the more than 300,000 factory workers who have been engaged in the in- dustry’s production division. Elight- | ly more than half this number were recalled to produce the approxi- mately 200,000 units to be assem- | Am Lt & Trac 1 | Am Superpwr ot | Buckeye Pipe L 4 | BN& EPDf (1.60) Stocks lylfl'lla!lnll”«tomm. Stocx and Dividend Rate. Auaoo E;lhlfl' Close. Aero Sup B .80% Ainsworth 1.258-—— Alr Investors Ala Power pf (7) Alum Co of Am 6g . Alumn Indus (.60) .. 5! AmCP&L(A)3d 2 ACP&LAD2.75d. 1008 Am Cyn B 608 5 Am Export 1.508 5 Am Fork & H 1.40g. 1008 Am Gas& E1.60a Am G & E pf (4.75) Am General (.158) - Am Gen pf (2) 1 i 45 50s 2 508 1 Am Mfg pf (5) Am Maracaibo Am Superpower . Am Thread pf (.25) Am Writing Paper_ Ark Nat Gas | Ark Nat Gas (A)_ Art Metal 608 As50 G & E pf (1) Atlas Corp war Atlas Plywoed (?)__ Auburn Cen Mfg __ Avery & Sons .508 . | Babcock & W 2 508 Baldwin Loco war__ Barium Stain 8t1 __ Basic Refract R0 Beau Brumm .558 _ Beech Alrcraft anca Atrcraft Bell Atrcraft (2g) Berk & Gey Pur . Bliss (EW) (1) ___ Blue R cv of (3d) Breeze Corp (1) Brewster A (.30g) - Pridreport Machine Brit-Am Ofl (h1)__. Brown Rubber 19 L 2 1 50s 1 BN&EP 'st (5)__ 100 BunkHil&S (1) .. 3 Callite Tung 258 — Can Col Atrways Can Mar W (h.04i Carrier Corp = Carter (JW) .60a _ Casco Prod (1) Catalin 25¢ CentHG & Bl T4 Cent & Sown Ul _ Cent 8t E cv pf CentStEevpfn. .. Cent St E 7% pf Cessna Aire (1.95 4 1 2 4 1 2 1 1 3 508 758 Chesebro (48) Chi Rivet .75 Childs pt Cittes Service Cit SP&Lpf (8 Cities Ser P&L p 7. Clev Tractor Club Alum Uten Col Fuel & I wai Co! G & Bpt (5 Columb O1] & G Commun P 8 (2 Compo Shoe (1) Cons Biscuit (.108) Cons G & E Bal 3.60 4 14 21 2 0% 104 26% 1% 9% % LY 4 1% ™ 4 1% 208 102 102% 102% 3 101 5% 14% 12% 41% 21% 11% 5% 33 9% | 8% 1 12 * s 3T 13 911y 10 1% 2% s-. 5 3 6y b | " ' | Western Alr Lines__ l!: THE EVENING STAR, WASHINGTON, D. C. High.Low. Close. 92% 92% 92% 36 36 36 67 67 67 DI'Menfl nu m 00. Pug 8d $5 ot (5] 2658 Puget 84 P $6 f . Quaker Oats ¢ Radio-K-O wi Raymd Conc Raytheon Mfg Republic Aviatioa. Richmond Rad Root Petroleum Root Petroleum pf Rysn Aeronaut. &t Regis Paper.. Schulte (D A) 5. 63% 634 63 146 143% 143% 2% 2% 2% 32% 32 32% 5% 5 5 7 % % 14 u et 14% 14 14% 110110 110 * 15% Singer Mg (63) Solar Alre .10g 80 Penn Ol (1.502) Southland Roy .355. Spalding A G Co Epalding A G 1st pf Stand Cap & Se Stand O11 Ky (1a) . | Stand Oil Ohio pf 5 100; Stand Silver Ld Stand Sul Sp 1.50 Starrett vt Sullivan Mach 18 SunRayD1g Taggart Tempa Elee (1.808) | Technieolor (1) Todd Shipyard (8 Toledo Ed pt 7 Tubize Chatilion Udylite .10e | Unexcelled Mte 258 United Atrcraft 1 Utd Cigar-Wh | United Gas United Gas pt 9k —__ Utd Lt & Pwr (A) Utd Lt & Pwrpf . __. Unit Sh M (2.500) 7258 United Sh Mpf 150 408 | United Spee .608 i U 8 Foll (B) | U£& Intspt 3 | Us Plyw pt 1.50 U S Radiator U S Rub Reclatm 4 | Utd Wall Pa (.108). \ Univ Corp vte | Univ Insur (1) _ | Utah-1cano § (158 | Utah P&L pf 1.25k Venezuela Petrol - Valtee Atrcraft Waco Alrcraft .20 | West Va C&0 .2 % 14 12 % 2% 19 ) 91 10 110 110 s 4y 2% 2% T ™ % & & & L 115% 115% uw % % % 19 5514 3% 7 34 (i 2874 2% 5 18% B55% 43 7 3% Py 2 108 1 508 2 | west Md 15t pf & Wilson-Jon's 1.1258 ‘Willson Prod .80a Wolverine T (.4 Wright H (h.408) s Unit of trading. 10 ehares. Tuptcy or receivership or being reorsanised under Bankruptcy Aci, Or securities as- sumed by such comnlnm Rnu of dm- o) annu dends in the f LR un ey or semi-annual declaration. Dnicss ouners oted. 9, exize, dividends are Ex dividend, rIn bank. »|Of Big Budget Federal Debt Tops 58 Billions on Eve Huge Program May Call Eventually for 100-Billion Total BY the Associated Press. The Treasury announced today the Federal t.leh'. passed $58,000,000,- | 000 on the eVe of & record-breaking | budget which may call eyentually for & debt of nearly $100,000,000,000. The Treasury sald the : debt reached $58,018,021,087 January 3. That was an increase of approxi- mately $13,000,000000 in the last| year. | The President plans to submit his annual budget to Congress tomor- | | Tow at noon and has indicated it| will call for expenditures exceeding $50,000,000,000 in the next fiscal year. Refunding Planned. Secretary Morgenthau announced | yesterday that the Treasury will re- | fund next week $1,076,063200 of | Treasury and Treasury-guaranteed | securities. Under the Treasury’s new financ- ing policy, direct Treasury obliga- | ticns will be issued for both types of securities, but the type of security til early next week. The issues to be refunded are $426, 349,500 of 1% per cent Treasury | notes due March 15; $310,090,000 of 7, per cent Reconstruction Finance Corp. notes due January 15; $236,- 476,200 of 3 per cent Pedenl Farm | | Mortgage Corp. bonds called for pay- mem January 15, and $103,147,500 of B to be offered will not be disclosed un- | ¥ To Be Sold fo Mills By the Associated Press. The Commodity Credit Corp. an- nounced yesterday that effective immediately it would offer for sale to domestic mills Government- owned cotton to meet their demands for certain desirable grades and staples. A price of 19 cents a pound will be asked for 15-16 middling cotton stored in Carolina mill areas with appropriate differentials for loca- tion, grade and staple. The corporation said it contem- plated that these prices would be applicable through January, al- though it reserved the right to terminate the program at any time. The C. C. C. has, for some time, begn disposing of Government- owned cotton through an export subsidy program and under lend- lease, but this is the first time any of it has been offered for sale to domestic mills. War production has increased their demands for certain grades of cotton considerably. The Government owns about 4,- 500,000 bales, acquired under Fed- eral loan programs. Legislation, however, forbids the C. C. C. from disposing of more than 300,000 bales a month or more than 1,500,000 within a 12-month period. \Washington Produce 93, score, tubs, 8: Y 3¢ Ya-pound prints. ; 1-pound prints, 1a-pound’ pri: 1l.xv‘l:! CR L Bulves, 147 spring lambs, From Agricultural Marketing Service. Prices paid net fo.b. Washington: EGGE--Market ateady. Prices paid for Federal-State wraded exgn received. from gradi® stations 6. W , per cent Federal Farm Mortgage corp bonds called for payment March 1. The refunding of the Treuury‘ notes will not affect the Treasury | debt, but the issuance of Treasury |7, securities for the other three issues will add that much to the Federal | debt. Bank Earnings Down. The Federal Reserve Board ln-‘ nounced today that net earnings of the 12 Federal Reserve banks | dropped from $25,860,000 in 1940 to | $9,137,000 in 1941. The drop was attributed both to al decline in gross earnings and an increase in expenses. Out of the 1941 net earnings, me banks paid dividends of $8.430.000 to member banks, paid the Treasury $141,000 and assigned to surplus ac- counts $566,000. | U. 8. extras, large, ' extras _mediums U 58" extrar. extras. medidm 5. standards, large, mo: mo vernment graded eegs. o IVE EOULTRY—Market steady, up. < 1o Roosters, Rocks, brollers and fryers. 13- Delaware and Maryland, Rocks “and bro sizes 10:20 13- 7 Gounds and up. Sa- eve. young toms 16 pounds & oung hens, 10 pounds and up. Guln!lsv 25 per po Dound old, New York Cotton By the Associated Press. NEW YORK, Jan. 6—Short cov- youns, " | set on drill required for Army work ' TUESDAY, JANUARY 6, 1942. Governmeni-Owned Cotion| Henderson Expected |Woolworth Reporfs To Raise Ceiling On Lead Prices Increase to at Least 8 Cents Predicted After Conference By the Associated Press. After a conference with Price Ad- ministrator Leon Henderson and his advisers, representatives of the lead- mining industry expressed the belief last night that Henderson would heed their recommendations for a ceiling price increase for lead to at least 8 cents a pound, to stimulate production for defense. Henderson, however, did not com- ment. ‘The present price is 5.70 cents at St. Louis and 5.85 cents at New York | 283, City. Principal producing States are Idaho, Utah, Montana, Arizona, Cal- ifornia, Colorado, Nevada, New Mex- ico, Oregon, Texas and Washington. “As a result of today's meeting I believe Henderson will grant a sub- stantial increase very soon in the price of lead so as to stimulate pro- duction of this metal which is vitally needed in our defense efforts,” said Representative White, Democrat, Idaho, chairman of the Metals Sub- committee of the Rocky Mountain congressional block headed by Rep- resentative Robinson, Democrat, of | Utah. Textile Ceilings Raised. ‘The Office of Price Administration increased its price ceilings on cer- tain types of cotton yarns and gray goods today in an effort to increase production of cloth needed for Army equipment, including Arctic clothing, sleeping bags and wind breakers. Premiums ranging from 525 to 8.75 cents a pound were approved for varn going into cloth for such win- ter goods, and increases ranging from 15.25,to 13 cents were authorized on material needed for twill in summer uniforms. Premiums of 1 cent a pound were clothing and for pockets and lining | of uniforms. Wholesale Commodity Index Up Further The general level of wholesale commodity prices was again higher last week, according to the price in- dex compiled by the National Fer- tilizer Association. This index, in the week eaded January 3, 1942, ad- vanced to 1200 from 1195 in the FINANCIAL. 12.4 Per Cent Gain In 1941 Sales Volume for December 14.5 Per Cent Ahead Of Year Ago BY the Associated Press. NEW YORK, Jan. 6.—F. W. Wool- worth Co. today reported December sales of $632,498002, a 145 per cent increase over $54,571,108 in Decem- ber, 1040. Sales for 1941 of $377.- 130,933 were 124 per cent higher than $335,460,287 in 1940. Kroger Grocery. Groger Grocery & Baking Co. an- nounced sales in the 13th four-week period, ended December 27, of $27,- 283,282, up 27 per cent from the $21,41753¢ for the comparable 1940 period. THe increase in sales vol- ume for 1941 to December 27 was re- ported as 17 per cent, $302,582,086, compared with $258,115,025. Neisner Brothers. Neisner Brothers, Inc., operators of 116 variety stores, reported net 1941 sales of $26,468,794, an all-time high, 17.68 per cent above 1940's $22,492307. December sales, also a record, totaled $4,770,116, a gain of 30.73 per cent over the $3,648928 recorded the corresponding month in 1940. E. R. Squibbs & Sons. E. R. Squibbs & Sons and domes- tic and Canadian subsidiaries re- ported for the quarter ended Sep- tember 30 net profit of $520,236, equal to 95 cents a common share, compared with $396,477, equal on the present share basis to 68 cents on common, in the like 1940 quarter. The company manufactures chemi- cals and pharmaceuticals. Main plants are in Brooklyn, N. Y., and | New Brunswick, N. J. Singapore grew with commerce that resulted from the opening of the Suez Canal. MORTGAGE LOANS Favorable Rate FIRST DEED OF TRUST ONLY €43 Indians Ave. N.W. Nat'l 0350 Telephone Gain Best on Record During Year By the Associated Press. NEW YORK, Jan. 6—The Ameri- can Telephone & Telegraph Co. yesterday reported & net gain of about 1,361,000 telephones in service in the Bell System during 1941, largest increase on record. At the end of the year there was a record total of around 18,840,000 telephones in the Bell System. A December net increase of 130,100 telephones was the largest gain for that month in the system’s history. The company said there were about 23,430,000 telephones in the United States at the end of 1941 which could be interconnected, in- cluding those of the Bell System and several thousand independent telephone companies. Rose Dividend Voted HENDERSON, N. C,, Jan. 6 (#)— Directors of the Rose 5-10-25 Cent Stores Co. yesterday voted a quar- terly dividend of 20 cents a share on common stock, par value $1, and payable on or before February 1. The company operates 115 stores in the Carolinas, Virginia, Tennessee and Georgia. FIREMASTER FILE SY”K!'I’Y -FISKE €0, Retall Stationers E ST. N.W, bled in January. but at least a pe- | ering and trade support today lifted | preceding week. A month ago the ||| Cons Rovalty (.20) _ riod of idleness faced all of them | cons SteelCorp . ‘with the complete suspension of car production. The car industry has been en- deavoring to convert its production facilities to armament manufacture as rapidly as possible, but some quarters say not all the equipment can be so adapted even under the most intensive effort. The most optimistic prediction heard in authoritative quarters is that some of the automobile workers will be back at work on arms pro- duction by mid-March, but that all will not be fully employed by the end of the present year. Washingfon Excl;a;;e SALES. | Washington Gas com.—24 at 18. | ‘Washington Gas pfd.—10 at 104. ‘ Carpel Corp.—10 at 20. Mergenthaler Linotype—10 at 2815. | AFTER CALL. | Capital Traction 1st 55—$1,000 at $1031;. l BONDS | | PUBLIC UTILITY, 1 Am Tel & Tel cv deb a5 56 1948 Pot Elec Pwr 3Y%g 1946 Washington Gas 55 J’?N",._ ‘Wash Rwy & Elec 4s 1 MISCELLANEOUS. Ter RI&W Cp 1st 4%as 1048 102% STOCKS PUBLIC UTILITY. Amer Tel & Tel () ‘Wash Ry & El ofd (5) BANK AND TRUST CO! Capital (16) = Sinesds (135~ -0 vings (y10.00) 325 FIRE INSURANCE merican (16) & remen’s (1.40) National Union (.75) TITLE INSURANCE. Columbis (k.30) Real Estate (me) ckel zom- (70 TR kel 85 e € Bf (1 50) nston Monotype ”z""' | | Wawd & Lot Wawa % Loth pia 7 * Ex dividend. -« closed. €27 eur extra.’ m$1.50 aid E $810.00 Txtra: 01 $5.06 pald Bec. 3B, 1041 I Dividends Announced 'ORK. Jan_ 6 —Dividends de- €Tec, Prepared by Pitch Publisning Co.: | Initial. | Pe- Btk of Pay- | Rate. riod. record. able. U8 Lines 7% pr pf c 8 12-26 1-2 Resu Unit Distil of Can Ltd 10¢ _ 1-15 Extra. fifnn 5. Jroup As 2ge - 1-17 o ek TR Accumulated. 1 Bren A Bt "’ & Eiee » pr lien :I 50 Do 96 pr lien 4 Y | oc Kiee Qareue A | MaP&LLpt (D) | Ga Power pf (8) | Lack RRNJ (#) - | Lakey Fdry (.408) . ContlG & Eprpf7. Cont Roll & 8 .50¢ .. | Copper Range 508 250-1 Corroon & Resn Corroon & R pf (7K) Creole Petr (50a) Crocker-Wheeler __ Cuban At (1.508) Dayton R (A) (2) Dennison pf (3) Det Gasket (1 Det Steel Prod (28) - Dubilier Condenser . Eagle Picher Ld.60s 3 n Gas & Fuel 2 Eastn G&P 6pf .75k 3508 Elec Bond & Share. 59 ElecB&SDPI(6) .. 2 ElecP&L2dpfA . 1008 Eqty C $3 pf 1 50k . 2008 Pairchild Av 1.25: 1 Farchild E& A 12 Pedders Mg (.808) - 1 58 1 1008 10: 5 2 41 108 50s 1 i 3 Ford Can (A) (h1)_ Puller (GA) 22 Gen Pireproof’s 1 Gen Out Ad pt (6)__ 108 -~ 2008 Glen Alden 1.708 .- 5 Gray Mfg GrtA& P ooy (70) Greater N Y Brew _ Greenfield T&D 18 .. Guif Oil (1a) Guit St Ut pt () Hartford Elec 2.7! Hearn Dept 8 pf 3k Hecla Min (1 208) - Heyden Chem 3a___ Hoe (R) & Co A Holophane (1.908) - Hormel & Co (2) Horn & Hard () __. 1258 Huyl (DeD) 1stpf . 508 Hygrade Sylv 1.258- Tllinots Ia Power 1l Towa pf (2.75K) . Il Ia Pwrdivet - Imp Oil Ltd (B.50)_ Ins Co N A (2.508). 100: 1Int Hydro Elecf . 1 100s 9 108 508 258 1 | Int Pa & Pwr war 21 508 508 Int Petrol (h1) Int Util pr pf (3.50) Iron Fire vic (1.20). Irv Air Chute 1a__. aa Jeanette Gllll 108 2 Lehigh Coal (.65 5 Leonard Oil Lone Star G .708 Long Isl Lt of B La Land&Ex .40 Mc ‘Wilims Dred. | Marion Steam Shov Mercantile Str 3% - Mesabi Iron Mich Bumper . Mich Sugar Mich Sugar pf .808_ Micdle States Pet (B) (.05%) 3 Middle West C 408 Midvale (3.838) Midwest Oil (.90) Mid West Refin 20 Minn M & M 2.40 _ 1008 Mock Judson 758 .- ‘Molybdenum 50 __ Mont Ward A (7) Mount City C 258 . Mount Prod (.60) 508 2 1008 2 1 t *| Mount St P (1.50r) 3508 10 | Muskegon (1.258) - 1508 Nat Fuel Gas (1) Nat P & L pt (6) Nat Sugar Refin Nat Transit 1.101 Nev-Cal El pf NEPASG% pf1k NewEng T& T (7). 308 NET&T rts Jan 15 7 N J Zinc (48) 3008 NY&Hon R 2.3 NYP&LL(D .. T0s 2 46 3% 40% 4 2 42 h 54 166 1% L 9% 1014% & 657 97 N Y StE&G pf 5.10- 100;‘100 Niag Hua Pwr Niag Hud 15t (5) Niag 8 Md B (.208) - Niles-B-P 1.268 Noma Elec (. | NorAm Lt & P Nor Am L &< pt | NARayprof 3 Northn 8ta P (A) | Ohio Brass 8 2 408 50s 258 1 Ohio Pwr pf (4.50) | Okla Nat G'pt (3) Okl NG cv pf (5.50) Pac G 6% of (1.80) Lig pf (8)_ Penn P& L pt (7P.. 1008 Penn W& P (4) 508 Pharis T & R (.188) x Phoenix Seeur | Phoenix Sec pt (3). no- I Chicogo Pnduu flfi l A Butier receints, Plerce Gov | 808 . Ploneef Gold (h 40) l Piner- l\n‘u\- "o. PilaPlOlbe ... N!Mlmr Pratt & Lam (20) 100- : 2% 414 111 AT% 110 29% 9By % 3 ™ 103 & 15% 69 102 11 3% 3% 80% 81% s T% 33 A | 7% | 33 20s 109 108 108 46 25% | 5% 46 25% 4 | Nebr Pwr ey % * 374 0% 7 2 42 5 5 5% 5% 156 1 1014 914 39% 26% 1011 £ 65% 50s 15'% 15% %% 100 1% 60'4 2% 13% 3 * 87 50'% 2% 4% 4% 1 111 4T% 4TU 110 110 29% 294 94 954 LY 2% 2% ™ ™ 1024 103 2 « 13% 3 50% 2% 2 B | 4% 10 15% | 'Bonds High. Low. Close. DOMESTIC. | Ala Power 4128 67 ____ lol'a 101% 1012 1 IM 104, t 5 P 5las 49 n6l 04ty J.K Cnmmun ty P h L 58 57_101% lfl'l Cont G & B8 A___ 9 "Rers L) 6s 83 A | It Be a1 prar B4 B hiPw &1 8 iete B Ind Hyd Flee 55 5% nanm sve gs 80 Indiana Ser Xndnnln Gs hs b" | Interst 5s 87 EEER PRI EN N> PBIBID=DIRZWIWINDD | Miss 'a 2 3 SEERELERER = B335225222, 22553052 0a2305352 | Queen G&E 525 52 A Seullin Breel 35 57 Shw &P 4'ax A7 Shw Wep 4528 6 Sherid \('yn Rt 44 South Cal 50'Che Gas Calit 4135 68 Sou Ind Ry 45 51 8 | Bpricing 8s &FE 6 A D 333272333 a9a1A %555 R 002550 1 c RT blas B2 A 7 Ulen & Co 65 A2 IV st Wua st e Varn Wa B 3ies 64 West Us Tr bt 80 | FOR] | Denm Mt B bs 72 | Fin B M B 3¢ 6 | Rio de Jan ‘@125 5 | Russian ‘6las 19 m: ww—with werrants. rants. n—new. st (st [Savings Stamp Sales |Quadrupled by War By the Associated Press. | The sale of Defence savings stamps | £= s | quadrupled in December upon the outbreak of war. Secretary Morgenthau said sales of the stamps, which he said were due mostly to the efforts of news- totaled $25,650,000 last month. This was four times the November sales and exceeded all the stamp sales in the six months prior to November. Morgenthau announced previously that sales of Defense bonds also set a record of $528,000,000 in De- cember. |Exchange Raid Drill Clears Rooms Quickly By the Associated Press. NEW YORK, Jan. 6—The 250 brokers, clerks and stock exchange employes who operate in the three bond trading rooms of the New York exchange were evacuated in 3% minutes yesterday in & practice air raid drill. Exchange officials said they hoped to cut the time to 2% minutes. The drill was held after the trading | day had ended. A test for brokers on the main floor for stock trading was planned later. Odd-Lot Dealings BY the Associated Press. LF S Loan Gains Cited. | cotton futures to the best levels in | index registered 116.6 and a year ago The board reported yesterday ar the final hour. s v | ta 'a | e « | 10" choice "offernge: 5| a0d, 2 paper carriers and retail merchants, f | unprecedented rise in commercial, industrial and agricultural loans of | banks occurred in 1941. | 4| The board said that in 101 lead- | ing cities the rise in this category was $1,710,000,000 during the year. | This sum was added to $5,018,000.000 | of such loans outstanding at the beginning of the year in these cities. In the last week of the year, how- | ever, these loans dropped $56,000, 000, mostly in New York City. Larger Bonds Favored. NEW YORK, Jan. 6 (7 —The New #4320 | York Federal Reserve Bank wants 3, | to clear up a couple of misunder- | standings about Defense savings| | bonds. 1f you decide to get $1,000 worth, | buy one big bond instead of 40 little | bonds. That way, an official ex- plained, you'll save paper, time, and . | leave the smaller bonds for smaller investors. And you can cash in any part of the big bond without losing interest on the balance, which will | | be reissued as of the original date. | The official also pointed out that | | the interest rate is 2.9 per on series | “E” bonds, and that contrary to the itum on one big bond is equal to that on the equivalent number of small bonds. (P).—8alable hogs Active. steady 1o bulk, scod snd 1.40-65, most ¢od and choice under ts. generally 50-500-pound - so%s. with lighter welghts, eep. 10.000: total. 12,000 ‘ Seady 1010 higher. bulk, g0od | fat natives and fed range -90: few strictly choice lots. | edium to good loads end lots , mostly 10.7: CAGO, Jan. 6 2 lotal. 15.000. 0 lower 5 cho 1 12:000: celves. 1,000: medium_ weight welghty kinds off most: common and dium grades relatively scarce, steady: ter_grades predominating in run: larze 75-14.00 market on steers: top. o | paid tor choice 1,040-pound mixed < heifers: s:veral loads yearling steers, -85, 00d Lo choice weih | 2%, “heifers strong. cows and b @0 15 higher: most beet cows, 8.2 h with practical top. 10 higher “at 14.0| | R atti Y micieinie Suopls: | Foreign Exchange NEW YORK, r axchlnle Oates Tolow (Great et th 7] (Great“Britain in an Control 8" Tates for - Onited Beater Somure Buying, 10 per cent ‘premium. sellme. 11 per cent premium: _equivalent to _dis- counts on Canadian dollars in New York of buying. §.61 per cent: selling, 9.00 Ter cent, Canadian dollars in New ynrks%nga} per cent_diseount, or | DA s chtechnteup Vi oo Europe: Great Britain. oficial (Bank- ers’ Foreign Exchange Committee rates): Buying, 4.02; selling, 4.04. open market; cables. 4.04. tin ~ Amer Argentin tree. nm; Bflc!ll Brazil, official. 6.0 indicated.) n Nominal. Stock Averages Indus. Ralls. UL, 8tks. Netchange. —2 —2 +.1 —1 ‘Today, close 55.8 27.3 Prev. day.- 56.0 Month ago. 536 Year ago .. 633 1041-2 high 63.9 1941-2 low. 51.7 1940 high__ 742 1940 low._.. 523 15.7 159 135 165 19.0 134 205 130 386 309 . 60-8tock Range Since 1927: 1938-39. 1932 37. 1927-20. 54.7 7.3 1571 High __. 337 169 618 Low (Comptled by the Associatel Press.) belief of some purchasers, the re- | 00 down: weighty sausige | Sa 1 $3000Ga S & F 55 5.18%n: 0.70 (Rates i spoL cables unless otherwise Low Earlier liquidation and hedging had been induced by the C. C. C. announcement that it would offer| cotton for sale. This, coupled with | expectations of an easier basis in | the South, caused 2 decline Late afternoon prices were 5 cents a bale lcmr to 35 cents higher.| March, 17.79; July, 18.06, and Octo- | ber, 18.13. Futures closed higher. January 55 cents a bale Decemper Middling spot. Cottonseed Bleachable cottonseed oil futures closed changed 10 3 higher: snles, 51 contracts. ung anuary, 13.63b; March 13.62b: May. J 1 ! Baltimore Livestock BALTIMORE. Jan & (# (United States | Depariment of Agriculture). —11 a.m. quo- tations Cattle. 135. Odd medium steers around | steady with Monday held abeve. 11.50 few cows, steady with Monday: few fers T ‘common_kinds. 00-7 50, mostly other grades and classes, shm-vx uunnly veale 650 upward: nomin 50. andcholce 140 130140 pounds. pounds,, 11.85-00: ing sow 8heep, 5. Nominal. New York Produce NEW YORK. Jan. f P.—Eggs, 17.002, Mixed Golors, fancy to extra 4 3 , Fraded firsts. T2 “mediums, Whites (resales of 373,-4014) mium marks standards. 3 43, (ressles of urnnnn i fancy ' heas 36) r * medi me- 13 aiby and Midwestern. fancy 3512-3614: specials. 38%e meditms. 33 2 Creamersy, re and premium marks. ‘cn;» (cash marked), 3 easy Baltimore Stocks Special Dispatch to The Star. BALTIMORE. Jan. 6 les STOCKS. 301 Balto Transit 3 Balto Transit pfd 80 100 East Sug_As vt Fidelity & Denon 11"1 115 4 50 U 8 Fidel & Guar BONDS. 2000 Balt Tros db 4 A 46 45% 48 000 Balto Trans 55 A 85 85 68 68 Commodity Prices YORK. Jan. 6 — The Associated Press weighted wholesale price index of 3. commodities today advanced to 96.27, new 1941-42 high. Previous day, 00.18: week ago. 95.05 month ago. Oh‘ vear ego. 1847 High T1026 averase eauals 1005 SEAT Bond Averages Net change -+ Today, close 62.0103.0100.2 Prev. day__ 61.7103.0 100.0 Month ago- 5841035 995 Year ago . 61.9105.1100.6 1941-2 high 66.5105.4 102.2 1941-2 low. 58.3102.7 989 1940 high . 61.4 1059 100.7 1940 low... 48.3 989 903 10 Low-Yield Bonds. Close ....1129 Prev. day- 1125 M'nth ago113.1 Year ago114.2 41-42 high 115.1 41-42 low 112.1 1940 high114.6 1940 low 1084 35.1 «Compiled by the Associatel Press.) By the Associated Press. United States Treasury Position The position of the Treasury January 3 compared with correspondin Januas g S 29.070.708.008 b4 ) “Hieh. IA)I’ Olns! | h| ikt of 100.2, based on the 1935-1939 lver-v age as 100. | During the week the food nriu, index rose somewhat, due chiefly to advances in eggs, potatoes and sev- | eral meat quotations. in the farm product group were | | evenly balanced, with cotton and | grain prices advancing and livestock | declining. |U. S. Currency Welcomed | SYDNEY, Australia, Jan. 6 (#.— | Treasurer J. B. Chifiey announced | today that visitors in Australia in | the future will be permitted to use |any United States dollar currency | they bring with them to pay for | goods and services. Persons in Aus- | tralia receiving dollar bills under the | ’new arrangement are still required to resell them immediately to | bankers, Price changes | |, ‘ | Freight Loadmgs NEW YOl (P —Revenue | ml:m cars hnnaled "in ullmldl report- | !){n,ncllflfll for the week ended January | Erie Great Northern _ | North ~ Pacific 1U. S. Treasury Not; NEW YORK. Jan. 6 (#.—Prices quoted | in dollars and thirty-seconds. 4 ‘Fn!! Maturity, JSublect to Federal taxes, te income Public Liability Insurance il COMM:RCIAL APARTMENTS RESIDENCES LOW INTEREST RATES Walhe@unlop 1200 150 ST. KW. DIST. 0222 OU know there are con- stantly arising details in connection with the manage- ment of your apartment house and residential properties. Don't worry with them—use our Property Management Depart- ment's experienced service. e SAUI. CO. 925 15th St. Natl. 2100 Mortgage Loans LOW PAYMENTS! (] NO COMMISSIONS! L] NO ll:lI:WAI.S! Py rudential ‘Building, &3 Association 1331 G ST, NW. THE CHASE and all forms of insurance. COMUANY Realtors 321 Tenth St. NW. _ NA. €365 and Equipment ACCOUNTING FORMS i To Fit Your Needs | E\WalcoltTaylor Cal MILLS BLDG. MEtro. 5846 22822 o8 AR’ o< TREASOR of Comptroller of the Curfency. R fiitioa i Revised December, 1940, REPORT OF CONDITION OF THE Uniformed Firemen's Credit Union of the District of Columbia, 4T publianed in response to call made by Compcroller of the Currency, unde (] &ed ortons Acm . Cash in banl k! = . Loans to members . Buildire association’ vestments . Qiher investments, U’ [ Betense bon . Pirniture and fixtures Total Assets rve fund JTotst Jishiitiey anover mufl :grnL :ulnl ot 0. f 1o "the Dot P M. Correet An-' & #a of Coly riet the close of business on December 31. | e District of Columbia | NATIONAL BANK OF THE CITY OF NEW YORK Statement of Condition, December 31, 1941 RESOURCES Casn awp Duz raom Banxs. oo e+ 81,248,516,343.94 U. S. GoveanMENT OBLIGATIONS, DIRECT AND FULLY GUARANTEED . . . . StaTE AWD MuwicieaL Szcumimizs Stock or Feoerat Reszave Banx Oruza Szcunrrizs . Loans, Discounts axp BANkERs' Baxxinc Houses Ornex Raat Estats . Morraacas Cusrouers’ Accerrance Luasiury OTHER ASSETS & o o o o 1,364,847,274.20 125,045,060.17 6,016,200.00 194,989,187.80 802,221,308.65 37,775,473.18 6,842,700.13 8,729,425.18 6,965,977.86 Accerrances LIABILITIES Carrrar Fowos: Camrat Stocx Surrrvs, Unprvipep Pronirs . Divipewp Pavasie Fesavary 1, 1942 Reseave ror ContinGencies . Reseave rox Taxes, Intenest, Drxrosits . Acczrrances OUTSTANDING . « $100,270,000.00 100,270,000.00 « _40,369,834.49 $ 240,909,334.49 5,180,000.00 11,375,028.06 3,032,603.47 3,534,966,617.22. $,241,999.24 ETC. .« o Liasiury as Enponrsza on Accarrances awd Foazion BuuLs & Oniez Luasiumizs . United Sta l.l!lm.\ 00 are pledged to secure and for other purpeses as req §75,267.46 7,521,455.02 & 11 a&““ Government and other securities carried at blic and trust deposits or permitted by law. Momber Fodeval Deposst Iniwance Corporanon