Evening Star Newspaper, January 25, 1942, Page 44

FI Rail Issues Register Further Advance On Bond Market Corporate Obligations Remain Uneven at Week's Close By the Associated Press. NEW YORK, Jan. 24—Rall issues continued to hold a favored rating in today’s bond market and, despite some late irregularity under profit eelling, the Associated Press average of 20 carrier loans rose 2 of a potnt‘. Except for Wednesday's setback the rails made good progress throughout the week, aided consid- erably .in the later stages by the Interstate Commerce Commission’s decision authorizing a 10 per cent increase in passenger fares. Other corporate departments had no noteworthy feature. Latin American issues again claimed a lively speculative interest but at the end prices were somewhat mixed. Australian issues were down a point or so and the foreign composite | dipped .1 of a point. | Rails showing final gains of frac- tions to a point or more included New Haven collateral 6s at 517, | convertible 3135 at 27'%2, Rio Grande | Western first 4s at 46, Wabash as- | sented 5s at 28, Northern Pacific 4s | at 75, Erie 4s of 95 at 90, and Lehigh Valley stamped 4%s at 36%. Closing prices were moderately lower for Anaconda Copper 4%s, American Telephone 3'2s and Del- aware & Hudson refunding 4s. Com- mercial Mackay incomes dropped 13,." United States Governments were unchanged to a shade lower in the outside market. Baltimore Markets Epecial Dispatch to The Star. BALTIMORE, Jan. 24.—There were only slight changes in_ the quotations on live poultry during the week. Most youn; chickens displayed greater strength. with | Drices about 1 cent per pound above last week's quotations. However. fowl was | somewhat dull and in some instances quo- tations declined slightly. Prices fluctuated rather frequently, but | the net changes were confined to a nar- Tow margin. Roosters, ducks, guineas, | capons- and geese held practically sieady throughout the week. but there were slight changes in the prices on turkeys. Some young hen turkeys were a little firmer than 8 week earlier, but some toms, especially the very large birds. declined slightly. Demand throughout the week was fairly od and although early receipts were they increased in volume later an about sufficient to meet require- gétnu. Most of the demand was for the tter-grade stock. Young Rocks sold but a few of the larger birds brought a little higher figure. Both young Reds and young crosses X well_st_slightly firmer prices, both bringing 3, with larger stock sell % at slightly X 1i gher orices. Ordinary stock of all kinds also showed greater strength at 16a20. In fowl, Rocks weighing 4! pounds and up brought mostly 21222, and mixed colors sold 20a2: large stock and 18820 for smaller. horns continued to bring 18a19. Roosts were still rather slow to move at 1%a for_mixed colors and 10a12 for Leghorns. Quotations on ducks were about steady et 20a21 for young white Muscovys wel ing b pounds and up, most of them brin ing the lower 16a18 for mixed ors and 19220 1 T 5ot fat geese were about st 85,20 Bome young hen turkeys were higher 31a32,” but s toms _declined. most of them selling 22a24 with very large birds moving a litle below these figures. Egs Prices Recover. Althougk: ~egg quotations declined sligntly earller in the week this loss more than recovered toward the Large nearby receipt Wi brought 37a38 dogen; medium wh 34a35. and mixec colors, 3iad4. Recelpls Varied considerably from day o _day. Most_native and nearby garden truck was about steady with last week. Best Maryland round white potatoes sold 1.90a 2.00 per 100 pounds, & few bringing s little more, and ungraded moved at 1.758 1 85. Nearby Golden sweet potatoes were siightly firmer at 85a95 half bushel, but Jerseys were unchanged at 75880. Mary- land mushrooms were about steady at 60a7p four-quart basket for best and 35a50 for poorer stock. _Quotations on turnips were unchanged shel. with a few selling nd althoush yel- y in the week 5 per 100 pounds T eclined to 1.50: continued to later. Maryland apgles bring 60al.90 bushel. Livestock Market. Demand for steers slacked off and most sales were made at 25 lower levels than late last week, according to the Asgricul- tural Marketing Service. Department of Agriculture, C. scting local rep- resentative. tuated unevenly but closed stronger while sausage bulls Tuled steady to lower. Trading on top * medjum and good-grade steers was at least , moderately active at downturns and best finished veariing offerings in the run sold rather readily at prices upward to 13.00. The vealer market was dull and lower with the closing trade on a “catch as catch can” basis even on small numbers. Declines measured 1.00 to 2. and more from a week ago. Hog prices fluctuated unevenly and closed mostly 5_higher than Thursday and a week ago. ~Practical top s¢ was 12.15 and practical top 25. Fat lamb prices th good to choice 0 ll;L’S. At of the week's steers were medium and low grades around 11.00al12.15 with 00d grade yearlings scaling 1,026 to 1,115 pounds, 12.75a13.00. BScattered odd Iots and part loads of common grade steers sold downward to 10.25 and occasionall 10.00 or below. Most common to _good- grade fat cows sold around 8.2589.00 with ®ood 1,585-pound Holstein cows at 9.60 and good grade 1.317-pound Hereford heifers, 10.00. Canier to common cows frequently sold 6.50a8.25 with only “shelly” lightweight descriptions avaimble at 6.00 downward 10 5.00 or under. Sau- sage bulls cleared mostly 9.00810.75 wit lightweight offerings only occ: ally « downward to .00 and below. Price levels on vealers literally fell to pieces, with late sales 1.00 to 2.00 and more below 8 week ago. Week's top, paid early, stood at 16.50 but at the finish the market was on a dull “catch as catch can” unevenly lower basis with clearance | incomplete. Late sales of common to good | vealers were 10.00a15.00. whereas 16.00 had moved & fsir percentage of the week's crop. Priday's hog market ruled mostly 5 « higher than Thursday_ with practical top advanchng tq 12.15. Good and choice 160 to 210-pound offerincs sold 11.90a12.10: 140 to 160 pounds, 11.70a11.85: 130 to d: 20 to 24(~pound butch- ; 120 to 130 pounds, 11.40 _85; 240 to 260-pound butchers, 11.25a 11.80: 260. to 300 pounds, 11.05811.30, and sows mostly 9.65a10.15. Fat lambs showed relatively little change {1rom close last week. with g and choice wooled lambs clearing mostly 13.50a14.25. L::\alled ;umb!!l flfhtoflmmllngo m!dgl’: 8] offerings _sol A . Slaughter sheep were available. Grain Market. ‘Wiaeat, No. 2 red winter, garlic] SOt domestic. bushel. opening vrfu. ? set- tling price, 1.30:closing price, 1. N Corn. No. 2 vellow, domestic. bushel. 94 . 296 Western billing at premium_ over this - ‘price. ob _corn, barrey 4.90a5.10; coun- + try_prices redorted, 4.50a4.70. ts, No. 1 white, domestic, bushel. 74a ; No. 2, 71a73. On all sales of oats to ing those on track. . there is an additional charge of 13; cents M f;r bushel f orstorage and elevation. which ald by the buver. 2. bushel. 85a00. Barley. 85. Hsy. timothy. clover and . mixed, eat @traw, n, No. 2. ton, 15.00. Flour_bai . dark to ‘white, 4. . Mill feed. ton. spring bran. 43.00844.00; standard middlings, 45.50!4{.50. » Dividends Announced NEW YORK. Ji 4 —Dividends g:red Prepared :lll' f.ge Fitch Publuh& L ~ & Pe- Steck of Pay- Rate.riod. record. able. $1.00 _ 25 2-16 Special. Bwift Intl Ltd Dep ct. 50¢ - Regular. Oliss, E. W.. (Dela.) $1.00 __ Crown Zeller- bach $5 i goods and other items in which & possible NANCIAL. THE SUNDAY STAR, WASHINGTON, D. C, JANUARY 25, 1942. Trade Reports at a Glance |Nation's Food Habits | Washington Stock Exchange (Reported by W. B. Ribbs & Co.. Washington, D. C.) ON WASHINGOTON STOCK EXCHANGE FOR YEAR 1843, UP TO AND INCLUDING FPRIDAY, JANUARY 23. - Spectal Dispatch to The Star. . NEW YORK, Jan. 24.—Tubloid review of business, reported by Dun & Bradstreet, Inc., in the four divisions of wholesale and jobbing, retall ‘This week com- pared with the corresponding period good above; slow below last year, Baltimore Chicago .. Cleveland Detroit ) 00QE00Q0000 Kansas City. Louisville St. Louis. Toledo ___ Youngstown .. - Comment BALTIMORE.—Consumer buying is nearing record levels for the month, stimulated by steedy purchasing of items for which a scaraity is anticipated. As dollar volume maintained a sharp lead over last year, stocks of merchandise in retailers’ hands continued to diminisb. Thus far in January wholesalers’ sales have not come up to expecgtions, al- though they exceed the like period last year. Bank clearings were 29 per cent above 1940. o CHICAGO.—Shoppers are spending more freely in a steady, quiet effort to stock up on staples such as shoes, clothing and food. Dollar volume of retailers showed & very good gain over last year® To replenish diminishing stocks retailers are again ordering from wholesalers in good volume, witlr sportswear lines particularly good. Buying at the Furniture Show, although below last year, compared favorably with major markets prior to the defense program. Bank clearings were 38 per egnt above a year ago. CLEVELAND.—Consimer buying continued unusually heavy for thi time of year as consumers purchased ahead steadily in lines such as textiles, rubber goods, clothing and groceries. Although sales gains were uneven, retail trade generally showed a very good lead over 1041, with department store sales up more than 40 per cent. The steel rate advanced one point to 97 per cent of capacity. Bank clearings were 37 per cent larger than 1941. DETROIT.—Anticipatory purchcasing by consursers in a wide variety of lines and the temporarily improved employment situation in the auto- mobile factories has combined to boost sales well ahead of last year's totals. Wholesalers report a high percentage of orders for deferred deliveries; a mild buying wave carried shoe volume 20 per cent above last year; brisk purchasing at retail was reflected in an active call for winter wear £nd white goods. Automobile output rose to 75,625 units from 60,190 in the preceding week. The tight scrap situation continues, holding steel mill operations at 94 per cent of capacity. INDIANAPOLIS —Expanding sbout 5 per cent in the week as con- sumers bought steadily in anticipation of shortages, retail trade continued to run well ahead of last year, with some increases as high as 35 per cent. Jobbers also reported a sales gain over the previous week estimated at 5 to 10 per cent, and a rise of 15 per cent over 1941 Manufacturing and construction of war facilities is increasing steadily. No decided curtail- ment of non-defense output has been noted as yet. KANSAS CITY.—Business activity continues at & high level Re- tailers report a brisk interest in textiles, woolen wearing apparel, rubber shortage is anticipated. De- partment store volume was estimated more than 40 per cent above last yeer. Wholesalers reported little change in activity with turnover well ahead of 1941. Flour milling is 15 per cent ahead of 1941, bank clearings 26 per cent. LOUISVILLE—A steady pressure of anticipatory buying aided in boosting department store sales an estimated 55 to 60 per cent ahead of | 1941 1ast week. Retailers of men’s furnishings reported sales moderately higher than last year; sales of furniture and electrical appliances were about on a par with 1941. Wholesale dry goods concerns volume 25 per cent better than 1941 as retailers requested immediate delivery of spring merchendise. Bank clearings were 33 per cent above 1941. PITTSBURGH.—No let down was noticeable in the exceptional vol- ume of sales thus far in January. Department stores in the latest week 00000000000 000000000008 000000Q%000 - 4 were estimated more than 50 per cent larger than last year, but general retail trade shows less spectecular gains. Central shopping stores drew trade from & wider radius and in outlying districts the gains were not uni- formly maintained. Wholesalers were more active as spring orders were Teceived in geater quantity. The steel rate held at 97 per cent of capacity. ST. LOUIS—Vigorous buying of textiles, woolen clothing, rubber - | goods, steple groceries and other items in which consumers anticipate a shortage, as well as good response to seasonal promotions, boosted retail volume sharply higher than last year. Dollar volume was estimated as much as 60 per cent larger than 1941 in some lines. ‘Wholesalers of apparel were more active as spring orders were received. The shoe industry con- ;| tinues to operate at a high level. Bank clearings were 35 per cent above the | 1941. TOLEDO.—Stimulated by forward buying in textiles, woolen clothing, rubber goods, groceries and other selected lines retail trade gains over 1941 widened from the 20 to 25 per cent gain reported last week. The change-over from civilian to war production continues, with-one auto- mobile plant reporting completed conversion to 100 per cent war basis. YOUNGSTOWN.—Buying “runs” on commodities in which scarcities are anticipated boosted sales gains sharply in special lines, but in general trade was spotty with slowness reported in durable goods items. Dollar volume continued to show a very good gain over last year, however. The shortage of scrap reduced operations to 84 per cent of capacity in steel mills. quate, with acetate producers off- setting probable shortages in cotton linters by using high-grade wood Demand promises to exceed pro- duction, since the industry not only must continue to supply yam to silk hoslery producers to offset the loss of raw silk, but it also is to be Textile (Continued From Page C-1.) and by the production of goods con- taining mixtures of rayon stap! fiber and cotton. Seek Federal Orders. d | last yegr. It is likely, moreover, that com- panies formerly concentrating heav- ily on civilian goeds will make every effort to secure a greater share of future Government orders to pre- serve more nearly normal opera- tions. Thus, the limitalions on con- sumption imposed will not neces- serily mean a corres) drop in machinery activity throughout the industry. The reduction in use of new wool, moreover, cannot be considered severe, since the base used (the first half of 1941) represented & period of record wool consumption, and the 80 per cent level authorized will still allow consumption to com- pare quite favorably with that in earlier years. Because of the preference given military orders, considerable diver- gence in the operations of individual companies will be witnessed. Those concerns devoting all, or the greater ‘part, of their production to goods for military uses may lift operations even above the high levels of 1941. On the other hand, operations of producers depending more heavily on civilian goods will probably fall at least moderately under those for Price ceilings placed on wool and woolen goods are considered satis- factory by the trade, and unless other costs rise in coming months, profit margins should be well main- tained. Rayon Output Near Limit. With only a small addition ‘to plant capecity available for 1042, output of rayon yarn has about reached its limit, since the industry has been running at capacity during the past year. At best, output for 1942 will be only slightly above that for 1941, while it is possible that a moderate decline will be witnessed if supplies of chemicels, such as acetone, sulphuric acid, carbon bisulphide and caustic soda, are re- stricted by Government allocations.} Pulp supplies are expected to be ade- called upon to furnish some part of the needs of Latin American countries. Manufacturers of woolen goods and rugs will also attempt to secure more rayon to supply the deficlency created by the wool cur- tailment order. Production costs have increased, but the moderate price rise made last fall has been largely offsetting and margins have been fairly well maintained. f f Civilian Volume Slumps. / Government orders, present( and future, monopolize attention in major textile markets this week with civilian business at the vanishing point, according to the Associated Almost simultaneously with the 200,000,000 yards of duck and twill for the Government, the War De- partment announced negotiations for 297,000000 yards of narrow dle of next week. Although the gray goods ceiling price was tripped up to 46% and to 47 cents a pound during the week, ‘Worth Street was too preoccupied with Government businiess to either solicit or accept any civilian busi- ness of consequence. Only goods with the highest possible priority ratings went through. The woolen division devoted most of the time to exploring ways and means of conserving the supply of raw wool for Government use and only a small amount of business was transacted for outside sources. During the week Govern- ment bids on 13,000,000 yards of fab- rics and 2,000,000 blankets were | sisn opened. Heavy demand of the armed forces for parachute and flare cloth equivalent to claimed most sttention of rayon | lars in Nex makers. Fingncial High By the Associated Press. 1. Steel production .. 2. Auto production - following: 6. Electric powder prod., k.wh... 7. Crude oil prod., bbls... 8. Bank clearings Demand deposif 14. Money, in circulaf [eney and Call money, N. Y. Stock Exchange .. Average yield long-term Govt. bonds. Latest week. Lights Previous week. 978% 75,625 737,172 2,972,150 $45.711,200 8472579 4329 $6,531,193 $23,884,000 $6,726,000 $3,560,000 $22740,000 $360,000 $11,062,000 1% 201% 1% 3% % 202% 1% Dun & Bradstreet. 9§ and Petroleum 8, banks in 101 cities, 11, 13, 13 snd 14, Federal Reserve, Revolutionized by \War Changes Survey Shows New Processes Saving Time and Space Wpecial Dispatch to The Star. NEW YORK, Jan. 24—The entire Nation’s food - consuming habits, from soup to nuts, are being revolu- tionized, according to a survey made by the Market Research Corporation of America among 102 of the lead- ing food mandfacturers. “The principal change will have to do with the increasing demand for foods that can be served with a minimum amount of preparation, since more and more housewives will be doing their own cooking,” says a large manufacturer. * Says another: “The boys in camp are being fed much better than were those in the first World War. I do not mean only the quantity ard quality of food, but more attention is being pald to the proper nutri- tional balance. All of this cannot help but affect the food habits of our people. If the war brings an expeditionary force from America to Africa, the boys who come back will bring a taste for, which will 20 Pot Xl Pow pfd... 1,401 Wash Gas Light eom. 119 Wash Pas Lisht ptd. 10 Wash Ry & B ptd 10 Carpel Corp .. 34 Lanston Monotyye.. + 300 Nat Mtg & Inv ptd ___ 90 Peoples Drug Str common.. 80 1Plus extras. 2% extra. . rate. W!‘ ——eee 103 104% 103 104% ¢.10% ———- 135% 125% 135% 126% 3.1% ‘19% 17 19% us ns 12 18% 18% 18% 104 103 103 116% 118, 116% »e125 17 6.50 113 1.50 15% 450 104 500 118 8.00 260 8.00 212 260 260 213 212 260 212 20 20% 28 % 2.00 20 1.00 4.00 040 1.60 10.50 3.00' 20 22 28 % 1% Ve 1% 20 22 n% % 21% V% 1% »Paid in 1941. United States Treasury Position By & year ago: ted Press. develop into a demand for, the kinds | 5% of food which are eaten in North Africa.” Army Needs Meat. Dividend Meetings NI . 2! a]) .— TR 234 kg Manufacturers who believed the | the impor war would affect food production | % processes spoke of specific changes necessitated by heightened demand for new kinds of foods, such as those | Corp. U, suitable for use by the Army or for | of export. The trend toward more concentrated foods was the most- talked-of processing change. Men- tions were made not only of “short- age of tin” and other “packaging problems” but of the need to “con- serve freight, handling and distribu- tion costs.” As one president said: “If we are to feed our European Allies and later feed the peoples of Europe released from the heel of Hitler, it will be necessary for us to ship foodstuffs from which water has been removed.” Frozen foods will also play their part, according to such statements as, “One car of frozen peas or spin- ach will equal eight to 10 cars of fresh packed in hampers or crates. One car of frozen orange juice can replace six cars of oranges. There is no economical reason why we should ship seven cars of pea pods just to be thrown away as soon as the housewife shells the peas from them.” Forced to New Methods. ‘The report indicates that the food industry has not only volunteered in the war effort, but that it is do- ing so to it§ own ultimate advantage in many respects. As the president of one company stated: *“Genius really exerts itself in times of stress X “are Ameri- Co., Newport News Bhlgbufldxu & Dry Dock Co., Otis Elevator Co.. Savage Arms s G S S and i P nalr sested e Pitch Investors Service as Mondsy, January 26. Atlantie Refining Co. com., 1 Bi .. Inc.,'com., 9: ¥ Cor ted Edison Co. of New York, Inc., com., 9:30 a.m. Manhattan Shirt Co. com., 10 a.m., Fnillipe Petroleum Co. comy. | .. Bteel Co. om. T Tuesday, January 27. Canads Dry Ginger Ale Co.. Inc. eom.. 2 .m. Deere & Co. 7% pfd.. 10 s.m. Lane fnnnt. Tnc, cam. 3 p.m. Madison Sauare Garden Corp. com.. 3:30 m. m‘:lnvflub Chattancogs & St. Louls Rail- N I Biscuit Co. 7% ptd and ecom. 3:45 p. National Gypsum Co. $4.50 pfd.. 10:30 a.m. National Lead Co. 7% pid. “ A 1118 s llvri;lk & Western Ratlway Co. com., 10: a.m. . 10 am. Gas Improvement Co. $5 pfd. and com. 2 p.m. U. 8. Steel Corp 7% pfd. and com., 3 p.m. Vanadium Alloys Steel Co. com., 2 pm. Wesson Ofl & Snowdrift Co., Inc.. $4 conv. Bfd., 1:30 p.m. Wednesday, January 28. American Tobacco Co. com., 4:15 p.m. Ar.ngwnc Cork Co. pfd. snd com. 9:30 rbanks. M .. Inc.. . m. L S L Grgen Bay & Western Railrosd Co. com., ersoil-Rand Co. com., 12 Bteel Co. com., 2 p. C d. and all mankind is benefited by its | i, Eeraict new findings.” very their ability to develop new prod- ucts. They make such comments as: “A policy of research for new products may mean the salvation of some manufacturers.” War may mean the return of the cracker barrel. “Expect a revérsion to the long forgotten custom of sell- ing staples in bulk,” says the re- port, which adds: “Changes may take place because of restrictions on the use of paper bags, shopping bags, etc. Important changes may be brought about by restrictions on the use of tires. If consumers can- Tharsdar, January 29. Amerll.l% Metal Co., Ltd. 6% pfd. and com. 3 pm. Bethlehem Steél Corp. 7% pfd. snd com.. 2:30 p.m. Internat Railways of Central Americs 5% ptd.. 11 a.m. Quaker State Ofl Refining Corp. com., 1:30 V.8 Parine card co. com. 2:30 pam. Varren Poundry & #ioe Corp. com. 3 Bm. Friday, January 30. Hazel-Atlas Giass Co. com., 10 a.m. Chicago Livestock CHICAGO, Jan. 24 (United States ot go any great distance away from | 199,230, poun home to purchase food supplies, this | compared may have a marked effect on the large super markets and may very bR L e Loans (Continued Prom Page C-7.) monthly luncheon meeting of the league at the Raleigh Hotel. More than 60 special guests, mem- bers of Congress and officials from various Government financing agencies will be honored at a re- ception before the sinner. Robert E. Buckley and Carl J. Bergmann head the welcoming committee. Financial District Comment. Partners and employes of Robert C. Jones & Co., were hosts at s at the Army & Navy Club, on of Lt. Col the firm, to active d Army. The Bankers Trust Mount, Va,, has been admitted to the Federal Reserve System, Hugh Leach of the Richmond Reserve Bank announces. It is the first bank in the Fifth District to join the system in 1942. The Washington office of Swift & Co. reports that Compania Swift | cluded: Internacional has declared a quar- terly dividend of 50 cents a share ; EE ¢ : { grades predom: o choice er. Steers res: e 1,403 pounds at 13.80: ¥ ds at 12.75: but little " sci over 1300 pounds pas 3 prime 1024 pounds helfers rea ut bulk crop sold st 9.76-1238: cutier %50-6.7 ausage bulls 8¢ 10.00, able sheep none. Total 3,500 late Priday: fat lambs closing 10-28 "Jower on Tt ety Grarey. 050, Jower ver . "25- L85 hotee Tiekiwetghts 12.50; b 108 sounds Western i i, small lots native 6.50 down. Corporation Earnings NEW YORK, Jan. (). —Corporate eatiNes Tomarie Jamied duriag ihe. week n:,ovqu profits per common share in- 1840. er. Agri and a special dividend of 50 cents | procter Pebruary 15. Dr. Isalah Bowman, president of Johns Hopkins Unlversity, elected a director of the American Telephone & Telegraph Co., takes the place of Barklie Henry, called to active duty in the Navy. Foreign Exchange NEW YORK, Jan. 24 (M.—Closing for- change rates follow (Great Britsin in_dollars. others in cents). 1 Canadian Control Board Gollars: buying 10 ver cent spot. les unless otherwise Eu) 0 open market: frae 2370 fi B et Braa otcial ‘: = .l!%né.;(meo. 20.68n. indicated.) Chicago Produce Jan. 5’4 (P —But ; 91, %: 90, 4 1 Hart Schaffner Net :| Well Above Year Ago B the Associated Press. t i | of $831,761, equal to $5.86 per share, compared with $437,776, or $3.09, previous year. Powgr Output Climbs NEW YORK, Jan. 24 (SpeciaD— o B TSR e Rty Ry s oo e e changed. LT BLz jes rather 3 ‘mod- russets _sli stronger; “l k. firm, slight lkll.rw un- . 8. No. 1, ; T SopNo- 1 265317044 kilowatt hours for the corresponding month of 1940, an increase of 21 per cent. MORTGAGE LOANS Favorable Rate GEORGE L. BORGER s oSt 5™ tion of the Tressury Jenusry 23, compared with corresponding dste . 990. 3,160,688,144 85 B.UBUI401.4T4 40 2,790,713,329 ¢ 48.163,856.877. 22.089.304.671.95 Civil Service Board % Recommends Ousfer 0f 2 Under Hatch Act Ruling in Georgia Case Says Jurisdiction May Extend to Elective Officers ‘The Civil Service Commission yes- terday recommended removal of two officials of the Buresu of Unemployment Compensation who were accused of violating the Hatch “clean politics” law and at the same time laid down the broad principle that under a certain condition its Jurisdiction in such cases applies to elective officers. The removal order was directed at J. E. B. Stewart, director of the bureau, and Marion A. O’Connor, director of the division of unem- ployment service of the bureau, who were charged with attempting to coerce employes under their super- vision to contribute to the re-elec- tion campaign of Ben T. Huiet, commissioner of labor in 1940. It is the second time the commis~ slon has taken ouster action under | ; 3 8 i : 825§ ,afigg 2 i £ g 8 % 7 i : % g g g : 2 ; 5 £ : ] 8 2 i % | § 3 are connected with the Unemploy- ment Compensation Buresu. The commission said there were about 400 employes in the Buresu of Unemployment Compensation. which is part of Social Security Act organization, and that its work is Federal FINANCIAL. CommodityPrice ChangesinWeek Increased Zinc Confrol 1 Is Believed Imminent By the Associated Press. NEW YORK, Jan. 24—Reports current in the zinc industry during the past week indicated a Ereater control over this ary pool” might be as much as 40 or 80 per cent of total production, against January allotment of 31 per cent. To these reports were added sug- gestions that by April 1 complete control of zinc rationing would be in the hands of some Federal agency. Non-ferrous metals producers generally awaited Federal decision on basic copper, lead and zinc pro- and | quction quotas for the year, since those figures will determine how much of 1942 output is eligible for premiums for over-quota mining. Answers to the price affice’s ques- tions are to be made by January 26. Bonus payments would push pre- mium copper to 17 cents a pound, Connecticut Valley base; lead to 925 cents & pound, New York, and zinc to 11 cents a pound, East St. Stock Clearing Corp. To Issue War Bonds BY the Associated Press. NEW YORK, Jan. 24—The Stock Corp. of the New York Clearing celling | Stock Exchange yesterday was au- “Hi L i --- B8 ulgo_)nifl New York Bank Stocks Federal Land Banks NEW YORK. Jan. 34 (. —Pederal land Soybean Oil Output Ahead of Year Ago BY the Associated Press. last quarter of 1941 amounted to 177317000 pounds, or 14 per cent mmmlnmmhrpomm Reorganization Approved A plan of reorganisation for the Fort Dodge, Des Moines & Southern Railroad Co. has been approved by creditors eligible te in the balloting on Commerce yesterday. Gonzaga Dance Fezruary 13 The alumni association of Gon- zaga College High School will give a benefit dance for its scholarship fund zbmry 13 in the Wardman Park tel. n “Insurers for 38 Years” Phone National 0804 HARRELL BROTHERS & CAMPBELL 716 11th St. N.W. : E thorized by the Government to act in the sale of Defense bonds as an issuing agent. Financial circles pointed out that .| the 1,300 offices of Stock Exchange member firms in 340 cities now may send through the names and ad- dresses of Defense bond buyers when future purchases are made, and the securities will be issued and dis- tributed to the buyers with the same speed as general securities corpora- tion purchased through member firms are delivered. Larger Profit Shown by Bliss And Laughlin BY the Associated Press. CHICAGO, Jan 24—Bliss & Laughlin, Inc. reported today 1941 net profit of $909,727, equal to $3.40 & common share, compared with $712,030, or $2.64, in 1940. ‘The company makes steel products and has plants at Harvey, Ill, and » | Buffalo, N. Y. For Guaranteed Sale First Mortgage Notes 6% e S ™ g in the N n’'s Oapital Pooples Mortgage Corporation The First Federal of Wash- ington offers these PLUS FEATURES for conservative investors: © Safety and_Security— The conservative li- cies of the FIRST ERAL enable it to com- pete for the highest g:ge of home loans—a security to all In- vestors of the Associa- tion. Dividends — Highest earnings consistent with Highest Safety are by the FIRST No Fluctuations in Value —All investments are re- deemable at face value by the Association itself. A PUBLIC SERVICE: This Association been ap- Agent to E—U. S. De- This service is open to the public. Tkl A RD IO FrCURTY DIstrict 2340 HRST FEDERAL $aVINGS anD Loan association Conveniently Located: 610 13th St. N.W. (Bet. F & G) (No Branch Offices) on APARTMENTS RESIDENCES BUSINESS ano INVESTMENT PROPERTIES " AMERICAN COMPANY