Evening Star Newspaper, January 12, 1942, Page 17

F1 Steel Rafe fo Rise To 97.8 Per Cent In Current Week Output of 1,615,800 Tons Indicated by Institute Report B the Associated Press. NEW YORK, Jan. 12—The steel industry is scheduled to operate this week at 978 per cent of capacity and on this basis would turn out 1,615,800 net tons of steel, the Amer- ican Iron & Steel Institute reported today. This would compare with 96.4 per cent last week with production of 1,592,700 tons. A month ago the operating rate was 97.9 per cent and tonnage 1,617,500 and a year ago 95.9 per cent and 1,547,700 tons CLEVELAND, Jan. 12 (®.—Until actual war demands are understood, civilian users have little chance of obtaining steel, the magazine Steel reported today. “It is believed that capacity is sufficient to meet armament needs and also provide considerable ton- | nage for non-war use. This belief rests on the assumption that facili- ties for fabricating steel into ships, combat tanks and munitions are not sufficient to take the entire output indefinitely,” the trade publication continued in its weekly review. “Inability to obtain sufficient raw ! material, principally scrap, for peak steel production is cutting into the total possible otherwise, but this cut falls first on civilian supplies and will not affect war needs until it has progressed much farther than is ex- pected.” Washington Exchange SALES, Capital Traction 1st 55—$1.000 at| 103%, $1.000 at 103%. AFTER CALL. Capital Traction 1st 55—$500 at 103. BONDS PUBLIO UTILITY. B A & Tel cv deb 34 1058 1071 104 105 1)0 0 ban_5s 104 ity & Sub mod 3‘(: 1951_. Georgetown Ges i 5 rx Washington Gas s 1 Wash Hwy e Biec 46 1681 MISCELLANEOUS. Tor RIEW Cp 1st 4%s 1048 102% STOCKS PUBLIC UTILITY. . Am Tel & Tel (0 tal Tranut (o] 25) " 0: B o 1 1 1 1 1 1 1 1 Iy 06% c & Tr Co (ef) _ ark of Ee'hesdu [§4 ,sv ‘apital (6) Som & s;:\: Libert: Lincoin (n3! B Koty &% nq fmb» z Pr Georges Bk & Ir (1.00) Riggs (oR) Riggs prd Bamipeion (8 Wath Toan & Tr (e FIRE INSURANCE. American (+6) = a: Firemen's (140) = National Union (.75) TTTLE INSURANCE. Columbia (k.30) Real Esiate (m6) MISCELLANEOUS, Carpel Corp (200 Garfinckel _com ¢ 70) Garfikel 87 cu ev pl 130 Tanston _Monotvpe 11.00) Lincoln Serv com (1.23) Lincoln §ve 7% pr of (3 50) Mergen o Ex diyidend. el Rie ber 29. 19! e e extra. B e p Paid in 1941 Washington Produce pounu | BUTTEI prints. 3Kia: tubs, 3R’z re. " tubs und orints. 36: K9 score, -pound prints. R score. tubs ot int "m"’d CR'ZCalves, 16; spring lambs. Pmm Asricultural Marketing - Service. ices paid net f0.b Washington PR ket Sready. . Prices paid for Federal-State graded ergs recelved from rading stations (Janusry 13): While l N "mostiy a7 cents: U 3 sily 33 cents extras. large, 3 §. extras. ‘mediums. t standards & Jtandardy m. s trades. cents: mearby ungraded eggs: current o ceipts: Whites. mostly 30-32 cents. some of better quality. heavier weight up to 33 cents: mixed colors, mostly 30 cent 38 cents. U mestly 32 cel s. Re- Cceipts Government graded eggs. 490 cases. LIVE POULTRY—Market steady. Fowl Celored. "4 pounds and up. =0-31 ¢ nens, 31z pounds E LRI TS T0? PRl Roosters: 141 Chickens. Virginia Rocks. brollers 13-14 cents. De Rocks and, crosces. e, all 19-30_cents. caponz s *pouna 25 cents: 7 pounds and uj cents By Younc toma: 16 pounds and up cents; young hens. 10 pounds an cents: No. s, and undersizes Guineas: Young. all sizes, 25 cents per pound, old. 10 cents. London Market Down LONDON, Jan. 12 (#—A rise in| British and Chinese bonds coun- | tered the main downward trend in the securities market today. 1 | Closing prices in most groups were ' = around the lows of the day. Oils were weak. especially Shell Trancport. Domestic rails declined but Latin American carriers held steady. Leading industrials yielded & few pence, with the exception of | textiles. Visible Crain Supply NEW YORK. Jan. 17 «P).—Visible supp!y of Amcrican the fcllowing chang om a week | ago (in bushels): Wheat decreased 1.831,000; corn decreased 798,000: oats decreased 168,000; Tye decreased 209,000; barley decreased 127,000 Failures Total Rises NEW YORK, Jan. 12 (#.—Busi- ness failures, in the week ended January 8 numbered 203, compared with 136 in the previous week and 263 in the comparable week of 1941, Dun & Bradstreet reported today. | Pennroad .25 ! mon ain showed | NANCIAL. NEW YORK CURB MARKET Stocks (By Private Wire Dircet to The Star.) Stock and Am Writing Paper_ . Ark Nat Gas (A)___ Ashland O & R (.40) Atlantic Rayon ___ Atlas Plywood (2! Auburn Cen Mfg__. Baldwin Loco war_. Beech Alreraft. ... Bellanca Afrcraft__. Bell Atreraft (2¢) . Berk & Gay Pur Bickfords pt (2.50). Bliss (EW) (1g) Blue Ridge .__ Brewster A (.308) _ BN&EP ot (1.60) |BN&EP 18t 5) _ Calif Elec Power CanC&Fpth44k. Can Col Airways Cap City P (.808) Catalin 235g Cent O 8tl (1.258 Cent StET% pt Cessna Atrc (1.958) Chesebro (48) __c- Childs pt Cities Serv Cities Service D ’|l Cities Ser P&L pf 7 Olev Tractor Col G & Bpf (5) Columb Oll & Gas Cons Biscuit (.10 Cont Roll & 8 50 Creole Petrol 508 Croft Brewing Cuban Atl (1.1 HOI) - Darby Petrolm .50¢- Dayton Rub (1a) Det Gray Ir (.04a | Det Steel Prod (2 Divco Twin (1! Draper Corp (3a | Eagle Picher Ld.608 Eastn Gas & Puel EG & P pr pf(4.50) Eastn Stspf (B)_ _ Klec Bond & Shar Elec B& 8t (6) ElecP&L3dpfA.. EmpG &P 8% pf__ 2 Equity Corp._ | Patrchild Av 1.25) Pairchlld E& A Pansteel M (.25 PlaP&Ltot (7). GenWG&E (1) __. Gen WG & Ept (3) Ga Power pf (6)_ Gilbert (AC) Glen Alden 1.70g. Godchaux 8u (B) Gray Mfg Grt A & Pn-v (7g) Greater N Y Brew. Quit Off (1a) __ Huyl (Del) 1st pf 1l Towa pf 2.758 Il la Pwrdivet . Illinots Zinc (.508) - Indians PL (.20g 1nd Sve 6% p? Ins Oo N A (2.508! Int Pa & Pwr war. 1nt Petrol (h1) Interst Home (.80) JerCP&LDE (7). Lake Shore h1.558 . Lehigh Coal (.65g) ... Lone Star G .708-—- Manati Sug war Marion Steam Shov.. Massey-Harris | Mead John (3a)_ | M &M pt pf (20) Merr-Chap & Beott - Merr-Ch&S pfA 13§ Mesabt Iron Mich Steel Tube.758 1 Mich Sugar. .. Mich Sugar pf .60g- | Miavals (3.835) Minn M & M 2 40 | Mock Judson 758 Molybéenum .50_ Monosram Pic Mont Ward A (7) | Nat City Lines 1a Nat City L pf (3) | Nat Fuel Gas (1) | Nat P& L pt (8) Nat Rubber (1g | Nat Tunnel & Mi: New Eng P Assoc NEPAG6%pf 1k _ NYP&Lt(7) N Y StE&G pf 5.10- Niag Hud Pwr Niag Hud 1st (5) - Niag 8 Md B (.208) Niles-B-P 1.258 N1Ind PS6% pf 6k Ohio Brass 82 ___ 100 Ohio PBPIA (7). Okia Nat G (1.40) _. Pac G 6% ot (1.50). Pantepec Ofl Pa-Cent Aurlines_ Penn P& L pt (7) Phoentx Secur Phoenix Bec pf (3 Pitney-Bowes 40 Pitts & Lake E 6§ Pitts P1G1 58 - Pressed Metals Pug 8d $5 pf 1.25k Raymd Con pf 3 Red Bank Oil _ Republic Aviation. 1 | Rice Stix DG 1g Richmond Ra Empire Pwr 2.50k__ 3008 1 508 258 108 10s 43 . 1 4% 10s 95% 95% 95% 1 1 1 1 50s 2 508 258 1 10Cs Eastn G&P 6pf .75k 100s 258 East'n Mallab 2.25g. 150s 258 10 1 508 7 102 5 Helena R (A) (1)__. 200s 258 100s . 208 50s 26 - 508 1 1 101 s 154% 1 1 3 - 6 T4 Tw W -100s 105 105 105 | 3 100s =0 20s 3 1 T5s | PugetSa P $B DI _ 12503 43% 10s 20% % 9 9% 9l 2% % T 10115 101% 101% 341 344 344 1074 1074 16% 16% 293 29% 4l 3a 3 o 4% G'fi 24 1 . 3 16% % 3% 8% 2% 15 % 384 15% Ton 2% 4 3 16% 5 % 8% 2% 15% % # | pomesTIC « 194 lom % W 24 2% Tl 7 1 102 102 5 5 1% Tis 11% T 3 87 8| Close. | Salt Dome Ofl_. | Wagner Bak pf (1) | ruptey or receivers| THE EVENING STAR, WASHINGTON, D. C, Lack of Wage Curb |Conversion of Planfs |x5 e High.Low. Close. san 0K sn 2% l)n n 62 5 2 1% 1 Schulte (D A) _ Selected Indus cv ot , B)s Sel Ind pr pf (5.50) 20- Royal Typewr (10)_ Bt Rogis Paper. SCal Ed of (1. B0a). k2 3 So W Pipe L (2)_ Spalding A G Co.. Spalding A G 1st pf Slh Stand Oil Ky (1a) Standard Prod 90g- Starrett vtc Sterchi Bros (.608)_ Taggart Technicolor (1) Tilo Roof (.80) Trans-Lux (.05¢) Unexcelled Mfx 258 United Alrcraft 1 Utd Clgar-Wh. United Gas United Gas pf 94 Utd Lt & Pwr (! Utd Lt & Pwr pf _ Unit Sh M (2.508) .. 25- United Spec .608 U S Foll (B) U 8& IntSpf 3.758 . Utd Wall Pa (.108). Univ Corp vte Utah-Idaho 8 (.158) Valspar of (2k) Va Pub 8ve pf Vultee Atrcraft 4% ™ “ NN 00 1 O 0 BN »an— 19 55% 6% 34 52 ] 8 2% 16 90 8% 80 15 58 2 3 2 08 s 2 08 - l‘Ol 2 lml‘ lhlres r In bank- p or being rEoreanised under Bankruptcy Act. or securities sumed by such companies. Rates of dends in the foregoius table Are annuai disbursements based m the last quarterly or semi-annual declarition. Unless other- wise noted, special o extra dividends are not included xd kx dividend. xr Ex rights. a Also extra « extras. d Cash or stock e Paid last yea'. { Pavable in s'ock. & Declared or paid 30 ar this year. h Pay- able 'in Canadian finds Accumulated | dividends paid or decared thls year. Bonds Western T&S .24 Wright H (h.40a) s Unit of trading ] 1y (2] 3 Ala’ Power 4125 67 Ala Power bs 48 A i 235" amas555! 23333055 S0 RRSEEI0NA352 &8 »35= Cama>553! S»oR32n20838320 Eent Bt !l Chi Rys 5s Ein 87 RY 51z 37 Cities 8ve 5s 50 Cities Service 55 58 28 2% B DS 50944 S22 |in considering the 1942 demand- | this fiscal year and 42 billion dollars | | of the picture, Zelomek said war pro- | 'wmethmg else lined up to take its| 093, a9 2% o on% sav and % | 3™ 2% 1% 120 267 26 | 101 15% (3] 4 4n| 331 33% b4 54 55 55 | 61 61 | 34 3% 97w 98k @ 47 47 % 4 61 » | tations 1.450. fes mostly steady; soots. bulls. around nfinay. T 00d 1,280~ .50 and under: Calves, 775 best times la than Thursday: good to rchoice choice veale and weight c ina satuirday and choice 130-140 pounds pounds, 112 Shoep. 650, consitered TR around 14.0 lambs sold "early. common and medium, n "40Nars and thirty-seco Rate—Maturits, Odd-Lot Dealings By the Associated Press. The Securities Commission reported to- | 1 these transactions by customers with dd.lot, dealers or specialists on the New Exchange for January 'l E-:-m invoivine 43018 involving 30, 7!! ig xam; 35 Ahort sales.” invorving 1,177 Baltimore Livestock BALTIMORE. Jan. 12 (# (United States Department of Agriculture) Il a.m. Quo- including 100 holdovers aciive than last k. but weaker: medium 00, und nurer COW, en“welgni shelly canners, downward te most medium o & 00-50; best. 1.580-pound 5. Active. fully steady with week. ong_to oractical fop and bulk, 17 hi TS, -16.00; 11 back!ng ¢ Mostly stee ar_ch U. S. Treasury N;e; YORK. Jan. 12 Ah -—rmu queted (Rpwa et e i £ 50 ‘hizher 00 igner: steict com- lizht- und: 2650 9.80- o f0-o3 w5, quality | 5, 18! a = wooled | cho! ice | - Avvrex °:3E =3 e b et £ E e | over tha eannter. | American Co com | Citx Bank | BeStn T ateet %o s’ R11 A115 Shw W&P dlps 87 A~ 073 973, 923 South Cal Ed '35 & 103 " 1017, 103 ro 1033 1023 1023 4 Unit Lt wmn N"Un s ad utpd 423, West Pa 5 “g’w 10713 10713 10713 Guant (Over te C The following memi| quotations on Washneton securities t 1< of Saturda been ascembled for The Star by Washing- | ton_members of the National Association of Security Dealerr Inc. |, Cons Title Corp fe31 D C Paper Mills 35 18 Mayflower Hotel ‘orp Bs. Hotel corp Bs. BONDS, City Club 1st mt Mavflower 50 ex 8 National Press Bl National Press Bldg i 5 Racauet Club 1st 3- 45 Washington Auditor um Corn st Bs Washington Propertes 78 52 STOCKS. American Co pfd Anacosita Bank - Barber & Ross Co pd Barber & Ross Co ] ecom Colum¥bia National Bank. . Cons Title Corp pf: Cons Title Corp cea = Dist Natl Sec Cor E{d East Washington Savings Bank Fidelty Storage Co Financial Credit C. units Grifith-Consumers Corp pfd Grifith-Consumers ‘orp com Hami!ton National Bank International Pinasce Corp units Lincoln Hall Assocition_ Mavflower Hotel Merchants Tfr & 8¢ Co pfd | Merchants Tfr & €tc. Co com Munsey Trust Co National Metropolian Bank National Mg & v Corp Raeigh Hotel Corx Real Est. Mtz Gty Zorp “A" Real Est Mtg & Gty Corp “B” Becond National B.nk Becurity Savings & Commer- cial Ba auburban National Bank Onion Finance Cor» units - Union Trust o rran Basebel Club Washinzton Conve:tion Hall Co pfd Nhurmn Conve: tion Hall washinglon Propecies v t ¢ Washington R¥y « Elec Co part un Wn\whmnon *Sanitry Hous- o Washington Samary Im- provement Co Chicago Livestock CH['\\GO Jan 172 (& (United of Ssricunur = er, Priday's a erage: 1 top, 11.65 ‘most_2:0-300 pounds, 11.00- 140-60°_pougd under; 11°15-5¢ 360-500 pound uow“lal'leu' 9 Q-0 4(\ th{el’ weights up to 1065 Salable sheep. 11.000. total. 16.000 bidding mostly 15,50 lower or 19,25 down mbs |d at 1740 and abo ood to choice “Kinds | strict oice s m Fieady to 2¢ srades scare bul ~5 2 et 1y ncressed °",$,” last | | of this year—if they sell to the! , | their fears at rest. | story, explaining : | ! previous year. {Foreign Exchange " | exchange rates ‘foliow (Great Britain in | | doliars. others'in ‘cents) Called Weakness 0f Price Bill Nystrom of Columbia Says Omission May Prove Disastrous By the Associated Press. NEW YORK, Jan. 12—An econo- mist today said “omission of any effort to control wages” was a “key weakness” in the administration’s price-control bill now before Con- gress and could prove disastrous. The statement was made by Dr. Paul H. Nystrom, Columbia Uni- versity professor of marketing, at a luncheon of the Association of Buy- ing Offices, Inc. Another economist. A. W. Zelomek, president of International Statistical Bureau, Inc.,, and consultant to the office of Price Administrator Leon Henderson, pointed out that as the war continues purchasing power will exceed available supplies of con- sumer goods. “There are,” Dr. Nystrom said, “two fatal weaknesses in the price- control bill: The provision setting agricultural prices on a parity basis and the entire omission of any con- trol over wages and salaries.” Emphasizes Seriousness. Emphasizing the “seriousness of the omission of any efforts to control | wages,” Dr. Nystrom added, “labor costs make up more than two-thirds | of all costs entering into the price paid for goods and services by con- sumers.” Mr. Zelomek said: “If all you concern yourself about supply is this new tax bill you will be looking into the wrong end of the gun to see if it is loaded. “The inflation that is packed into the Federal deficit—19 billion dollars | in the next fiscal year—will explode | right in your face.” | Urging retailers to see both sides duction, growing by leaps and | bounds. every dav is cutting deeper into civilian supply. Urges Frankness. 'Zelomek told those at the lunch- eon, held in conjunction with the annual convention of the National | Retail Dry Goods Assoctation open- | servation. | ing tonight: “Don't scare the consumer by talk- | ing about non-existent scarcities but don’t deceive him about the avail- ability of supply. Take the middle | course. Scour the markets for sub- stitutes. Get ready for a production shortage before it develops and have place.” | Zelomek said retailers have rea- son to worry about the effect of the | tax bill on sales in the first quarter | higher income brackets only—but added: “If they sell to the main consum- ing class, families with incomes .of | { less than $3.000 a year that account | | for two-thirds of total consumption, | a little simple arithmetic will put‘ The 1941 tax| bill does not impose much of a bur- den on families in this group.” 4 He said, however. that the 1942 tax bill would mean a different | “It will dig down to the ]o‘er‘ income brackets, may involve a gen- eral sales tax or a compulsory sav- ings plan, will increase the excise taxes and will fall even more heavily on corpormon and higher personal incomes.” i: A. G. Spalding Discloses $421,664 Net in Year By the Associated Press NEW YORK, Jan. 12—A. G. Spalding & Bros, Inc, sporting, goods makers, reported today consol- | idated net income for the fiscal year ended October 31, was $427.664, equal | after preferred dividend require- | ments to 86 cents a common share, ' compared with a net loss of $289,- |8 399 in the preceding fiscal year. Charles F. Robbins, president. said changes in distribution methods had resulted in a reduction of $887.- | 000 in expenses under those of the Superior 0il Co. Superior Oil Co. of California re- ported for the quarter ended No- vember 30. 1941, net profit of $1.- 057,345, after provision of $300.000 for Federal income taxes, or $2.50 a share on capital stock. This com- pared with a net loss of $13,178 in} the like 1940 quarter. NEW YORK. Jan. 12 (P —Late foreign Canada: Official Canadian Control Board rates for United States ou-u.‘ buving. 10 selling. 909 per cent. dollars in New York open market. 113s Der t discount or 8K.6213 United States Europe: Great Britain. official (Bankers' | Poreign_Exchange Commitiee rates), bus- ing. 4.02: selling. 4.04 open market: cabies, 3.0% it America: Argenting. oficial. 26.77; u o Brail, official. "6.05n: " free, ex: on. in spot cables unless otherwise n Nominsl. (Rates indicated). FreigM Loadings ORK. Jan. 12 (P.—Revenue freieht cars handicd. by mlmm in the week ended January 10 include sme " Gine ‘(. l't k Pre‘ o o1tk 5o5ed | Sawdust is becoming an impor- tant fuel for home-heating purposes in Canada. I get an FHA loan? O.g.; WEAVER BROS ¢ Gl WASHINGTON BLDG., DISTRICT 8000 REALTORS s8I | assigns an A-1-J or higher rating. | 065 passenger carriers (buses seat- | vwu#uunui;uuwuuttuun;&.uuu-‘, MONDAY, JA For War Speeded During Week Here to Shift in Auto Industry By the Associated Press. Increasing emphasis on forced conversion of industrial plants to war work marked last week's Wash- ington developments as related to the Nation's business life. Virtually the entire week was de- voted to meetings of Government, management and labor officials concerned with conversion of the automotive industry, first complete large-scale change-over undertaken by O. P. M. Present trends indicate that small industries capable of conversion will come into the pic- ture with increasing rapidity be- cause of their value ir assisting large industries already loaded with war contracts. Further action to requisition idle | machinery and idle inventories, nec- essary to the war effort, can be ex- pected—with O. P. M. itself as the requisitioning agent. First step in the requisitioning program was tak- en last month by the Navy Depart- ment when it seized about $1,000.000 in strategic materiais originally des- ignated for European consumers but immobilized by the war. Developments last week of gen- | eral interest to business and indus- | try included: Priorities. An example of compulsory conver- sion was an order (M69) requir- ing beverage distilleries having fa- cilities to manufacture 190-proof ethyl alcohol from corn or other grain to produce only that type of alcohol after January 15. Approxi- mately 60 per cent of the distilling industry’s capacity was affected. Other alcohol orders included pro- hibition of use of molasses to pro- duce beverage spirits (M54); re-| strictions on quantities of ethyl al- | cohol in perfumes, lotions, hair ton- ics and other non-essential uses | (M30); purpose, to relieve the sugar | shortage, to produce and conserve | industrial alcohol for military uses. Metal scrap orders issued indi- cated increased emphasis on con- Segregation of alumi- num scrap by alloy content and form was made mandatory. Automobiles. NUARY 12, 1942. civilian supplies. wunmm of auto- matic vendln‘ machines ordered re- duced and production of domestic vacuum cleaners Foods. Sugar order (M-55) amended to permit receiver. not in business in 1940 to receive up to 85 per cent of his average monthly use or resale. . Metals. Privately imported copper sub- jected to priority regulation. Hot rolled sheet steel of any gauge per- mitted in manufacture of sheet steel drums for any product to be shipped overseas. Textiles. Consumption of new wool by man- ufacturers limited in first quarter of 1942 to 80 per cent of half the amount of new wool they consumed during the first six months cf 1941. Tires. Local tire-rationing boards began issuing purchase certificates under national January quota of 400,000 new tires, Price Administrator Hen- derson indicated virtually no new automobiles would be available for ordinary civilian use, but widespread reports of eventual commandeering of private cars were denied. O. P. A. also denied that storage bat- teries would be rationed or that their unrestricted sale would be halted. Prices. As a result of Government ar- rangements for purchase of 1942 Cuban sugar and molasses crops, O. P. A. increased raw cane sugar ceiling 24 cents a hundred pounds and followed up with a 20-cent in- crease in wholesale refined sugar prices. A wide range of machinery came in for O. P. A. action. Requests to keep prices at October 1 levels went to manufacturers of hoists, cranes, derricks and construction machin- ery, portable power-driven tools and ceramic machinery. Requests of oll companies to raise prices of grade C bunker fuel oil in the East and Gulf coast areas was turned down and O. P. A. in- dicated that ceiling action on prices of oil of peppermint was being con- sidered. Amendments were announced on schedules for combed cotton yarns and cotton gray goods to speed pro- duction of Army uniform cloth. The Navy Department announced that cotton goods bidders might make use of the O. P. A. sliding-scale ceilings. Government control measurés have failed to keep down prices in Tur- Partial relaxation of ban on sales | key of new passenger cars and trucks permitted deliveries to Army, Navy | and certain other Government persons assigned preference ratings of -J or higher, or any prime contractor working on Army or Navy | projects to whom Army or Navy | February truck and bus quotas I 53435 heavy or medium trucks, 1.- | ing 15 or more). Preference ratings l on materials extended through Feb- | ruary. January passenger car production set at 204,838. | Chemicals. ‘Tung oil brought under strict con- trol (M-57). Polyvinyl chloride con- trols (M-10) extended indefinitely. Sale of wood aicohol as anti-freeze prohibited (M-31). Manufacturing. Plumbing, heating, electrical sup- ply manufacturers to receive assist- ance under production requirements plan; inventories of dxsmbuwrs in- 5% Invesiments in 1st Mortgages Notes in denominations of $500 and wpwai orthwest improved properties—not over 607 of our appraisement. Since 1900 “Never a Lows to en Investor MOORE & HILL CO0. 804 17th St. N.W.—MEt. 4100 WM. AL HILL Extra Income Your savings deposited here earn substantial re- turns in high degree safety. Insured up to $5,01 by a Federal agency! Come in, dpen your account with a lump sum, or monthiy deposits. On to Victory—Buy U. S. Savings Stamps and Bonds = = = = m o -4 2 SAVINGS & LOANASSN. RE. 52624337, Street Nw. Branch Takoma Pk. e naaaa s S S ST R R 2 R e e e R MORTGAGE LOANS Favorable Rate FIRST DEED OF TRUST ONLY 643 Indians Ave. N.W. Nat'l 0350 TRUST MONEY ® Low Rates ® Prompt Service Monthly Payment Loans as low as $6.33 per $1,000 per nonth. BOSS & PHELPS MORTGAGE CO. Loan Correspondent John Hancock Mutual Life Ins. Co. 1417 K 8t N.W. wa 8300 for the Open your account for lit- tle as $5—then continue saving a small sum regu- hr!r ?or future needs. Lib- eral, semi-annual di dends — accounts insured up to $5000. Under supervision of the Unsted Stda Tn:lnu Washingten Suilding 15th. $0. end New York Ave. » g RE-FINANCING EXPIRING TRUSTS CURRENT RATES OF INTEREST 1f the trust on your property is about to expire, our method of refinancing will mean a very substantial saving to you—emd NO COMMISSION in addition, you will be relieved of all future worry and costly CHARGE renewal expense. NATIONAL PERMANENT BUILDING ASSOCIATION UNDER SUPERVISION OF UNITED STATES TREASURY 719 TENTH STREET, N. W. NATIONAL 0254 Momber of Federal Home Loan Bank FINANCIAL. U. S. Steel Shipments At New High Mark For December Year's Volume Shows Sharp Increase to 20,458,937 Tons BY the Associated Press. NEW" YORK, Jan. 12—United States Steel Corp. subsidiaries ship- ped 1846,036 net tons of steel in December, 1941, a record for that T:nth. the company announced to- y. December shipments were 221850 net tons ahead of November, sand compared with 1,544,623 net tons in net tons. Shipments in December, 1939, were 1,443,969 net tons and in December, 1938, were 765868 net tons. For the year ended December 31, 1941, shipments were placed at 20,- 458.937 net tons, subject to year-end | BO! | adjustment, compared with 15,013.- 749 net tons after adjustments in 1940. It was a record high, com- ! of 17,105,397 net tons in 1916. Bomb Plant Planned. AKRON, Ohio, Jan. 12 (P .—Fire- stone Tire & Rubber Co. is taking charge of a new ordnance project, structed on a 17.000- acre site, Presi- dent John W. Thomas informed the annual stockholders’ meeting. “Personnel from our Akron, Mem- | December, 1940, a boost of 301413 | paped with the previous high mark | of Wi | cured b: | a bomb-loading plant to be con-| phis and Los Angeles organizations | 1 tary reasons he was unable to give further detalls. He disclosed that Pirestone has completed plans for & new Akron building with 100,000 square feet of floor space, for armament produc- Socony-Vacuum Pays More to Service Men By the Associated Press. NEW YORK, Jan. 12.—Socony- Vacuum Oil Co. Inc., announced that effective last December 8 em- ployes entering military service | would receive full pay for the first two months, in addition to Govern- ment compensation. After the first two months, the company said, each employe with dependents will be paid 50 per cent lo( his regular wages, less the Gov- | ernment compensation. The plan supersedes previously adopted employe benefits, the an- | nouncement said. Join the United States Coast Guard today. im’.-lt'l*ts.qt:.t SIRKING POND' 1 D8 OF THE TER\? AR STEAR /AL REFRIG! | B NS wmtflousma co’gipoRA‘noN DA’ | _ Notice is mreby nen mn the National | Bavings and Trust Company. of the District of Columbis, Trustee under Indenture dated | April 1. 1938 b Re- FIRST n sinking fund pro said Indenture. ealled by lot for { redemption at par, plus accrued interest. on February 1, 1042 at the office of "the | Trustee the following described 474" Mortgage Sinking Fund Ten-Year bonds of the Terminal Refrigerating and Warehous- C on dated April 1, 1938. 63, | $500 Bonds—Nos.. D | Bonds enumerated herein are called Jor purpose of the sinking fund and nte; est on said bonds will easeon Pevruary NAT[ONAL SAVINGS AND ST COMP. TRUSTEE SRUCE BAIRD. “Precident. POSTER. Becretary. will compose the supervisory staff of this important new war project.” BY sald Thomas, adding that for mili- Steson’s". NELSON J Buy U. S. Savings Bonds and Stamps Your Execuror AND TRUSTEE American Security offers both - seasoned experience and corporate permanence — plus the careful carrying out of your wishes by a group of men whose life work is the conservation of estates. For over half a century, many of Washington's large trust es- tates have been left in our care. AMERICAN SECURITY & TRUST COMPANY MAIN OFFICE: FIFTEENTH STREET & PENNSYLVANIA AVINUE CENTRAL BRANCH: TTH AND MASSACHUSETTS AVE., N. W, SOUTHWEST BRANCH: SEVENTH AND STREETS, §. W, NORTHEAST BRANCH: EIGHTH AND H STREETS, N. &, NORTHWEST BRANCH: 1140 FIFTEENTH ST, N. W, MEMBER: FEDERAL DEPOSIT INSURANCE CORPORATION FEDERAL RESERVE SYSTEM