Indianapolis Times, Indianapolis, Marion County, 6 November 1940 — Page 27

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PAGE 27

STOCKS BREAK

‘THE INDIANAPOLIS TIMES Defense Picture Not Too Rosy

WEDNESDAY, NOV. 6, 1040 oo, oo es

‘MAKE-READY’

BUSINESS

What the Stock Market Will Do

For a Week or So Is a Tossup — 8y ROGER BUDROW

WHAT EFFECT WILL

THE ELECTION HAVE on

the stock market for a week or s0? Well, your guess is about as good as the experts. But it won't be long, they think, before stocks will be governed chiefly by the forces

of war, business and taxes.

If you will check back since the beginning of this. century, you will find that the stock market went up the day after election in six of the election years and went down four. And at the end of these election years the market was higher than the . day after election five times and lower five times. When Mr Roosevelt wa s first elected in 1932 the stock market average went down from 64.58 to 61.67. But when he was re-elected in 1936 the stock market average went up from 176.67 to 180.66, almost four points. ¥ ” ” ” GERMAN AIRPLANES shot down in Britain show that (Germany, contrary to British hopes, isn’t short of either natural rubber or high-octane fuel, according to The Aeroplane, British aviation magazine. : Nazi warplane tires are excellent, rubber has been used liberally around fuel tanks and although gasoline tanks are marked for 8T-octane fuel they were invariably found .to contain the more powerful 92-octane gasoline, the magazine stated.

This is the same publication that :

has consistently “knocked” tically all non-British desighs, especially the American. The editor calls the Allison-powered Aircobra “unorthodox.” ” 2 2

prac-

AMONG THE NEW machines and | Gommon—

gadgets are: A windshield wiper for airplanes, said to be the first practical one, now being installed on the ships of one large airline, An electric iron with a red light in the handle which goes out when the iron has the right temperature for one to go ahead and iron. The “magic eye” used in radio sets is now utilized in analytical chemistry to show the instant that all the chemical changes are completed in the process called “titra-

tion.” 2 o »

GREAT BRITAIN (is reported planning to offset the large losses in its merchant marine by building standardized cargo vessels in a 10-million-dollar 28-way ship assembly plant to be constructed in the U. S. ” E-4 n

ODDS AND ENDS: About 340,000

dozen pairs of nylon hosiery were fo

put on the market in September. . . . Old-time London merchants are complaining that British authorities are attempting to grant the Spanish Government a virtual mon- . opoly on imports of oranges. . .. As-

‘sociates Investment Co. at South |?

PRICES ON HOGS FALL 25 GENTS

Top Quoted Here Recedes To $6.35 as 10,454 Porkers Arrive.

The 25-cent advance made in hog prices was erased today, the Agricultural Marketing Service reported. The top fell to $6.35 for good and choice 230 to 240-pounders. Vealers were steady with an $11.50 top. The Marketing Service reported 713 salable cattle were received, 366 calves, 10,454 hogs and 922 sheep.

Repts. 6633

5000 10,454

Top Repfs.|Nov. 7600]

1 ... 620 9921 | 3 0.0620 2500] -Barrows pad Gites Packing Sows 140 $ 5.00-.5.60| 5.90160. 5.50< 6.00 37- > 320. 3 5. 20- 8.00 5.75- 5.90

5.70- - 3.3 5.40- 5.60

Oct.

31 ...8 620 Nov.

Slaughter Pigs 5.50- 6.00] 90- 120.. 4.75- 5.10 Slaughter Cattle & Vealers (Receipts, 713) Choice—

00. 12.50-14.00 10.50-1

airplane | Good

an 1300- 1300. MoI200. choice. . 750-1100.

1100-1300

10.75-12.75 1. .00-11.50

ommon an 8.00-10.75! Medium, 2 30- 10.00 8.00-10.50| Cull 7.50

750-1100. 7.00- 8. » Feeder, Stocker eers ters, Heifers o Receipts, 366) 500- 750. 11.50-12.50| 500- 800. . 9.50-10.25

Good— 9.50-10.25 500- 750. 10.00-11.50 Good— . | 500- 800.. 8.50- 9.50 Heifers 300-1050. 8:50- 9.50 Choice

Js0- 900. 11.25-12. 75) 300 "8o- 00-1000. 7.50- 8.50

ood— cal ( leer y 50 1300 200. 0.0 ves (s ears Mediu 10.00-11. ey 00d and Ghol

500~ - 900. 7.75-10.00/, 00, dawn. 9. S0-11.25

Com #3 . 60. 900.. 8.00- 9.50 300-900. 6.00. 7.73 500 down. 8.50-10.00 Calves (heifers)

1 ws Goo 7.00- 7.50! im aa. 1. | 300 dor down... 8.50-10.25 Cutter and

common 5.00- 6.25] Canner... 4.00- 8.001

SHEEP AND LAMBS (Receipts, 922)

Good and choice $ .950-10.00 Medium and good 3 308

Ewes (waoled) Good and choice . Conmtmon and medium

13,000; general trade

— Receipts, mostly 10@15¢ lower;

mia 13 active; $6.40: bulk %ood and choice 230-330-1b.

ages, [email protected]: 170-190 lbs. largely $6@ 6. 20; good 300-400-1b. packing sows, $5.90@ 6.15: heavier weights. [email protected].

steers and vearlings strong to higher: all grades shared advance strictly Bnd and choice offerings showed most upturn: strictly good and choice steers predominating in crop: top. $14.75 on prime 1115-

4A 4.60- 5.60 A

ulls 750- 900 $12. 50-13. 325/ Tearing © excludady a

Cau 2.75- 3.50 6.50- 1.75 Che

CHICAGO LIVESTOCK |&

“ Bf pr WW, Ok 7, RAVE Fe Vy a : A t PHILADELPHIADZ =~ Tl No (eh WASHINGTON

CINCINNAT! ple jis /\BADFORD NOR OL :

CHARLESTOWN

VA. TA k

Main centers of arms and munitions production in U. S. defense program are spotted on above map. There are no factories in Rocky Mountain area, most producing centers being clustered on Atlantic seaboard and Pacific coast.

NEW YORK STOCKS

Allegh Cor Alleg 2

Atchiso Atl C Atl G&WI

3ald Loco ct

est & Beth, Steel

urroughs

Calumet Can ta

Col

Colum Gas

Com Solvents” ol Catilo—Receipts. $500 “calves. 1000 good Co aon 8

Cons Edison ...

Cons Cons Cons Coal ye, Container ....

11-18

Ill As Bry 4 1 pf it Atlas Corp ... Ata on Corp.

3alt & Ohio . 3endix Avn ..

urlinton MC.

Callahan 2408. . t & H...

Carpenter Bu Case J. I....

High Low

—r

7 4 3312

500 down. 7.50- 8.75 Byron Jackson. 12

butchers, [email protected]: most 200-220-1b. aver-| co] Broadcast 4 a1 5%

10%

26% se

11-16 10

tidied BIC BIA IDNR O > * oN PN

Ay UNITED PRESS

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS 1 +0.36 +0.79 —0.77 —111

Monday Week AZO .coiancvecee Month AZO eercevnesccscnves ld Year ARO c.i.cteeersvcccecen 150.35 High, 1940, 152.80; low, 111.84. High, 1939, 155.92; low, 121.44.

20 RAILROADS Monday «c..crecenuses ‘evaens Week Ago .. Month Ago Year Ago High, 1940, 32.67; low, High, 1939, 35.90; low,

15 UTILITIES

tssencsncse essen

ssstsscranne

Monday Week Ago

s {Month Ago ......

Year Ago High, 1940, 26.45; low, 18.03. High, 1939, 27.10; low, 20.71.

Long Bell, Lou GRE A

cGraw Hill . cKeesport . cKesson Rob... ead Corp elville i 2

SSSR 8S SESSSRRS 22 = o

a >

fine Fibres a t Aviation ..

“8 Se]

Bb pe Fa LS

New

LEILA

a/Un El Coal . 5 | United Fruit. .

th « | Ward "Bak pf.. s | Warner Br pf.. 37%

{| West Union ... 21% 5, | Westing El

Net High Low Close change quare D .... 33% 3 Ya td Brands .. Ys St. & Zi

Sunshine Min . wift & Co ...

Texas Cor ex

in Coach ..

Union B&P .. . ’

O=OBBRNRO

United Drug

rbocnon RBBNLEB 2 a Phas Fo a

Univ L T pf....1

Vadsco Sales... Vanadium Va-Caro Ch .

Walwor Warner Bros ..

Wayne Pump .. 1812 West Auto Sup 27

West Air Bke.. tg

Weston El In.. 35 Wheel Steel . 30% White Mot .... 14% Willys Overld .. 2'% Wilson & Co .. 4% Woodward Iron. 32!2 Woolworth .z7... 35% Worthington ... mel

Jit HEE +L:

Yellow Tr og BY Young Sheet ... i 1 403 Young Stl Dr., 18% bein

Zenith Rad .. 5

LOCAL ISSUES

15%

b expected to reach 5000. i| Secretary of War Patterson an- + | nounced that the Garand rifle is be-|

IS TAKING TIME

Plane, Gun Production Up But Explosives Still Lagging. By MILTON BRONNER Times Special Writer WASHINGTON, Nov. 6.—More than five months after President Roosevelt's famous message on defense, a general survey on the whole picture is not so rosy.

tracts have been let. But W. S.

.| Knudsen, in charge of the produc-

tion division of the National Defense Commission, has again found it necessary to remind the public that letting contracts is only the first chapter in a long story. After the contracts have been awarded, industry must enter the “makeready” period, when machine tools, shop drawings, fixtures and the necessary raw materials must be provided. Then, finally, production can proceed. Mr. Knudsen omitted one other large factor: Many of the factories which are to produce have not yet been erected. Many more plants have not yet built needed extensions. That's why 1942 and 1843 and 1945 are still mentioned as dates when dollars will have been really turned into war materials. | It was Mr. Knudsen who warned the country before that armament factories were going to need about all the machine tools and dies and

s|gauges that can be produced in the : next year.

Tank Output Rises’ Mr. Knudsen said production of

,| military planes had reacned a total

per month of between 900 and 950. He hopes this will mount to 1250 by next January, 1500 by next July and 3000 by 1942. In September, 2400 airplane engines were produced—1500 for compat planes and 900 for training ships Produttion of 13-ton tanks has

®lalready been started, according to

Mr. Knudsen, at the rate of 100 a month. Larger tanks—30 tons and a few 50 tons—are expected to go on the assembly line early next summer. Gun orders are well underway. With one exception, Mr. Knudsen

2 | declares that all gun manufacture

provided for in the program is now arranged. This means that contracts have been awarded and production has begun in big guns and machine guns. Five plants are working on machine guns alone.

2000 Rifles a Week Automatic rifles are being pro-

+lduced at the rate of 2000 a week,

and by next January the figure is Assistant

ing produced at a rate of 400 a day and will soon hit the 700 mark. The War Department is shy of giving out: figures. About as far as

*lit will go is to concede that it has

3000 airplanes on hand and another 18,641 under contract. The Navy Department has let it be known; that some 4000 more planes have either been ordered or will be shortly.

More Plants Expected

So far, $8,480,000,000 worth of con- :

Harry J. Fitzgerald, president of the Evansville Board of Realtors and real estate manager of The Peoples Savings Bank there, will speak on “The Realtor’s Place in Mortgage Lending” at the Indianapolis Real Estate Board meeting at Hotel Washington tomorrow noon.

UNFILLED ORDERS IN WOOLEN MILLS RISE

NEW YORK, Nov. 6 (U. P.).—Unfilled orders in the hands of woolen mills have swelled to between §5,000,000 and 60,000,000 yards, and continuance of the present high rate of operations “well into the new year” is assured, the New York Wool Top Exchange Service reported today. The Service pointed out that about half of the current backlogs is for military requirements. Unfilled orders at this time last year amounted to about 36,000,000 yards. In the past week the U. S. Army awarded contracts to mills for 8,515,000 yards of wool flannel shirtings, 6,000,000 yards of light shade serge,

1,000,000 yards of dark serge and the

775,000 yards of Service said.

elastique,

AS MUCH AS $3

Market Opens Lower, Then Rallies, Levels Off, Dips Again. I

NEW YORK, Nov. 6 (U. P.).— Stocks broke fractions to 3 points today in increased trading. The market opened lower, rallied sharply, leveled off for a time and then resumed the decline, Utilities were weakest following an opening on blocks ranging to 10,000 shares in United Corp. and 35,000 shares in Commonwealth & Southern. Before the election many traders had taken a flier in’ Commonwealth & Southern common, which closed on Monday at 15%. Today it declined to 1% as speculators dumped their holdings at a half-poin loss, Wene« dell L. Willkie was formerly president of Commonwealth & Southern. Steel shares fell back more than a point. Du Pont registered a 3point decline. Ingersoll - Rand dropped 5 points. Union Carbide was off 3. Many others were down 2 points and more. Gold mining stocks, notable exceptions, had gains® ranging to more than 3 points in Homestake Mining. Buying in golds was based on belief election returns indicated retention of the New Deal gold policy.

N.Y. TELEPHONE CO. NET INCOME DROPS

NEW YORK, Nov.6 (U.P.).—New York Telephone Company today reported net income of $7,439,678 for the quarter ended Sept. 30 compared with $7,904,755 in the corresponding 1939 quarter. : Total operating expenses for the third quarter amounted to $53,609,« 345 and operating taxes to $10,614, 573, against $51,838,949 and $8,489, 272, respectively, a year - earlier, Taxes include provision for takes i by second revenue act ‘of

l19

AYRES’ MEN'S STORE

AR)

Listen— Little Fellow,

a Pair of

Don't go through life having to look up te

taller men . . . give yourself added height, an

‘““Uppers”’

b. averges; next highest price, $14.65: sev-| cont Bak A . eral loads. [email protected]; common steers, Cont Bak pf.... $7717.50: about 50 head 800-lb. averages.|Cont Can A $7.25; ‘little in steer cron under $10; red|cont Dia F ... heifers firm: part load. $12.50: mixed steer

uplift, so to speak... with a pair of "Uppers."

A A ad *

Bend, fifth largest auto finance

The following Quotations by the Indiancompany in the nation, had a $2,-

apolis Bond & orp. do not represent actual price ot offerings. but merely indicate the approximate market level

The country’s greatest lack in its preparedness program—bigger than

They look like regular shoes . . . come in 3

237,145 profit in the mine months up to Sept. 30. . . . Before the war France was the second| best European market for U. S. Cotton but now the industry is at a standstill because there isn’t much cotton left. What the Germans didn’t seize was burned. . . . Shipments of coal on Great Lakes boats this season is likely to be a new record. . The Financial Post predicts restrictions will be placed on Canadian imports from U. S. to conserve ‘our all-too-small supply” of American dollars. . . . The Magazine of Wall Street explains one reason theré are so many German “tourists” in Naziconquered countries like France is that Germany boosts buying power of the reichsmark in those countries manipulation) making cheap to German buyers.

INDEX OF CAPITAL GOODS ADVANCES

NEW YORK, Nov. 6 (U. P).— “Capital goods activity in the week ended Oct. 26 rose to the highest level since 1329 at 113.1 per cent of the 1925-27 average, the index compiled by the magazine Iron Age

showed today.

‘CHICAGO GRAIN

Opening prices today on the Chicago Board of Trade, as reported by Thomson & McKinnon, were: December ' - May July Wheat S 85%@.85% $.84%@ 84% 5.80% @.80

Corn ou 61%@.61% .61% opts ox 315% 81% Rye— 45% 48 | = L

WAGON WHEAT

olis grain elevators are paying Indianap wheat, 80c; subject to market

articles.

FOREIGN ES IANGE

N YORE. Nov, 6 (U. 1 Following ble rates on major curr are noon se d Canis Rates Ne Net Chg. gland (poun ) Canada (dollar) ...y...

ra) Say (markka)

switzerland (franc) er {sfona) . Mexico peso) .

"LOCAL PRODUCE |

breed hens, 12c; bareback hens, 1c: Leghorn hens, 8c; bareback Leghorn hens, Barred and White Rock springers, | 13s: hn colored heavy breed springers, 12¢; Leghorn soringers, 11c; bareback sprin ers, 9c; old roosters, 6c! Grade A Sa exes. : 2c: Indiana , 23c: 3 on rate A

t, No. 1,:28c; No. c. 3 \P pickup prices quoted by the

(through foreign exchange;

We Will Buy

Fletcher American "Nat'l. Bank Certificates of Ben ficial Interest

TON TODD

and heifer yearlings, $12.60: cows and bulls, firm: weighty Sasane bulls, $7.25: vealers strong at [email protected]; few country buyers here and stock cattle very dull. Sheep—Receipts, 6000: late Tuesday iat lambs - closed 35@3be higher: bulk good choice natives, [email protected]: extreme top, $9.85; gond to choice 89-100-1b. fed shorn lambs. [email protected]; today's trade slow; scattered early sales steadv: few medium to good native lambs, $9.25 down: asking about $9.50 on good to choice load good shorn fed lambs, 35. 2%; few good to choice slaughter ewes, $4@ 4.40.

OTHER LIVESTOCK

CINCINNATI, Nov. 8 (U. P.).—Cattle— Salable 350, total 40, Calvi, 250; active on another good, 600 haters

6: od um oa $6; dairy Pred CRLLerS. [email protected] canners mostly [email protected]. Sheep—Receipts, A 0: broad demand for light supplv: sales goof to choice trucked in nearbv lambs, [email protected]. Hogs—Recaipts, 4025: bidding generally lower than Tuesday or en $6.40 : most weights were offéred 20c

LAFAYETTE. Ind.. Nov. 6 market 25¢ lower: 180-200 hs. Use: risa 5850 200-250 Tots 530: [email protected]: 250-325 Tos.2 ig 6.25: pigs. $5.50 own; roughs. $5.75 dow 10011. Lambs, [email protected].

\ \ FOOD PRICES CHICAGO. Nov 6 (U. P.).—Apnles, Wisconsin MacKintosh, bu. $1.25@2. Celery, Michigan, squares, 60@85c. Tomatoes. California lugs. [email protected]. Spinach, Ilinois. bu.. 25@A0c, Caulifiower, New York, crates, Toc@$1. Carrots. California, crates. 75c@$1. Carrots. California. crates. 22.40 3.25. Lettuce, California, crates, $1.75

Calves,

$1.75. Onions (50-1b. sacks) Minnesota, vellow. 561,@66c. Towa Ytes. $1.05. Colo1ado, Sweet Spanish, _$1.07Y 07?

BUSINESS AT A GLANCE

By UNITED PRESS

Born-Warner Corp. 9 months ended Sept. 30 net profits $4,125,231

$3,483,036 or $1.49 year ago. Curtis Publishing Co. and subsidiaries 9 months ended Sept. 30 net profit $2,624,080 vs. $1,921,618 year ago. Montgomery Ward & Co. Oct. sales $56,937,141 vs. $54,944,556 year ago, up 3.6 per cent; 9 months sales

i| $387,050,748 vs. $358,050,867 year ago,

'|up 8.1 per cent. G. C. Murphy Co. Oct. sales $4,611,824 vs. $4,090,432 year ago, up 12.7 per cent; 10 months sales $39,439,243 vs. $34,903,068 year ago, up 13 per cent. White Sewing Machine Corp. Sept. quarter net profit after es3| timated excess profits taxes $96,886 vs. $101,623 year ago. General Railway Signal Co. 9 months ended Sept. 30 net profit $344,474, after all taxes, equal to 75 cents a common share vs. $94,534 or $4.10 on 6 per cent preferred year

ago. Unien Oil Co. of California September quarter net profit $1,198,232 or 26 cents a share vs. $1,898,569 or 41 cents year ago: nine months $3,212,612 or 69 cents a share ws. $4,549,713 or 98 cents year ago. Pond Creek Pocahontas Co., September quarter net profit after Federal income taxes at new rates $116,542 equal to 68 cents vs. $78,833 or 46 cents year ago. Standard Brands, Inc, and subsidiaries, 3eptember quarter net profit after taxes $2,000,882 equal to 14 cents a common share vs. $1,543,488 or 10 cents year ago. DIVIDENDS . Aluminum Industries, Inc. 15 cents on common payable Dec. 16 record Nov. 30 vs. like payment in September.

{erly $1on common payable Dec. 2 record Nov. 21.

: | G. C. Murphy Co. regular quar- i

@2.85. Sweet Potatoes. Tennessee. bu., 95c}

equal to $1.76 a common share vs.|ID

Crown Cork

to| Crown Zeller ..

Crucible St

Curtiss Wr Curtiss Wr A..

Evans Prod Ex-cell-o

Fed Lt & T Firestone Eo . . First N_ Str

Gen Cable Gen Electric Gen Gen G&E Gen

Goodyear Goodyear pf . Graham-Paig ge. Gran Rby Gt Nor ore Gt North? pt

Hud Bay

nt Harvester. . int Hyd El A tM Marine. .

Jewel Tea .. Johns-Man Bf Jones & Lg

Kennecott Kroger G&B

Laclede G pf..

Crane Co pf....

Cub Am Sug... Curtis Pub ....

st Sea 17% Douglas faire .. 87

Foster Wheel .. Francisco Sug .

Foods .... A... Motors Gen Te Gillette SR .. : 33

II1 Central ... Inspiratn Cop. 108 1073 Interjake Ir... 0

Ing Nickel .... 253 A

48% / ‘128 128 pf 99

8 28% —D— 37%

East AL Lines 3% Mig

L 87 pf. 37% zo! Ele A

7 S54

i 1th

. 27%

ack Wat PL A 33

ny nt

Mas. 1812 1812

ta 8a 8's 97% 534 5314 2% TY 2534 147%

48% 98%

. 339, . 31

on Lo

. 18 18

Furniture and appliances | tomorrow. - All farnit

s Pac Coast 1 pf.

2 |Pac Tin d

329, 31"

11114:

ji1+} oe ®e

[en Pr

s Elev Otis Steel

Fun

Pac Coast 2 pf. Pac & Bl... Pacific Lt

Hii Ra

Sp Lr

Packar Pan Am firways Paramt Fijct : Para Pic 1 pf.. Parke Davis ... 34 Pathe Film . . Penn D Cem ... Penn D C pf A. Penn RR

idl}

l =~

nN 11 3

BRSERSENS 111 - 1 be Py 1

Pitts Sc & B... Pitts Stl

Poor B «8 Pross Stl Car... Procter & G ... 56

a dd

bs . -

HELLER LN

NEN aE AeA NB

ober - ®®n

CS Nee ee Oh re

C3 0 RC RN

B Roihtield Oil.

Safeway 4 St Joe Lead ... Savage Arms .. Scott Pap 4 pf 1 08° Seabd Air oi Seabd Air L pf Sears Roebuc Sheaf Fyn : Shell Un Oil. Simmons Skelly

- WOW 1 ORD Sp art mad cm Dee

-J o =

DD pt 4 0 Hoo

nider P { ocony-Vacuum 0 Am Gold 0 Por R Sug. joutn Fac

uth Ry nt . parks With. Spencer K Sperry Corp

0 &E

BIrs bt BID = Do -—

3 |

ond DO Hw oe

x Spiegel Inc

Lev.100 8 | Muncie. Water Works 5s 65...

2 | Pub Serv Co of Ind 4s 69

based on buying and selling quotations

Ask

of recent transactions.

Stocks Bid

2 Agents 1 Finance corp com & Stk Yd

s com Belt RR > Stk Yds pfd 5s.... Central Ind Pow 7 d

I 8% Terre Haute Elec 6% pfd Union Title Co com Van Camp Milk pfd Van Camp Milk com Bonds American Joan 5s 51 American 5s 46 Citizens In Tel 4Yss 61 Crabbs-Reynolds-Taylor 5s 42.. e T&T Ft Wa .

Indpls P&L 3% Indpls Railway Ine 55 67. Indpls Water Co 3Y 2s 66 hteraate T&T 528 53 Kokomo Water Works 5s 58... Kuhner Packing Co 42s 59...100 Morris 5&10 Stores 5s 50

- 0

Nat Silk Hosiery 5s 42 N Ind Pub Serv 334s 69..¢....108 N Ind Tel 4':s 55

Pub Tel Co 4'2s 55 ++. 100 Richmond Water Wks ‘58 57...1 Trad Term Corp 5s 57

DAILY PRICE INDEX

NEW YORK, Nov. 6 (U. P.).-—Dun

Bok bk dh fh ok rd fk fk hd oh ok fk fk Bk fh fd fk

Sud CROTIWW-I = =JNRD LHNO RAN - @N ~

10D

191& Bradstreet’s daily weighted price %lindex of 30 basic commodities, com-

piled for United Press (1930-32 aver-

® lage equals 100):

cisssnsssassnssessses 1205 veedassssnashensss 120.22

Monday Week Ago

a{Month AgO ......ceeevnsse.s 11891 . Year Ago

vereeneenes 83H 1940 High (Jan. 2) .......... 123,34 1940 Low (Aug. 19) .......... 11242

Won. + H. Block Co. Moves Departments.

its need for men or ships or guns or planes—is explosives. After World War I, most of the plants that manufactured explosives were dismantled. When the present defense

*| program was inaugurated, the Gov-

ernment had to rely on the du Pont plant at Carney’s Point, the Government-owned plant. at Dover and the Hercules plant at Kenvil, all in New Jersey. The recent disastrous explosion and fire at the Hercules factory was a severe blow to the defense program. To remedy this, the National Defense Advisory Commission has arranged for two powder plants, two high explosive plants, five loading points and two ammonia plants. Five more for manufacturing high explosives are planned.

ELECTRIC UTILITY SETS NEW RECORD

NEW YORK, Nov. 8 (U, P.).— Operating companies of the North American utility system stepped up their electricity production to record levels in the third quarter of this year to meet increased industrial demands resulting from the defense program, ’dward L. Shea, president of North American Company. reported today. Mr. Shea emphasized in his regular report to stockholders that “the third quarter of 1940 began to show 3 “clear picture of the growing effect of national defense preparedness upon the business and earnings of the North American System.” He declared that the system is playing a “substantial part” in the rearmament drive through payment of increased taxes and expansion of its present productive facilities. These higher taxes, Mr. Shea said, resulted in a 13% per cent decline in net income for the third quarter, despite the fact that total operating revenues were nearly $1,500,000 higher than in the same quarter of last year.

BANK CLEARINGS SHOW DECREASE

NEW YORK, Nov. 6 (U, P).— Bank clearings in 23 leading cities in the week ended Oct. 30 dropped below both the preceding week and the corresponding 1939 period, Dun & Bradstreet, Inc. reported today. Total check transactions in the measured centers for the latest week amounted to $5,644,258,000, a decline of 4.2 per. cent from the pine 1939 period’s figure of Clearings. showed a decline of $258,246,000 from the preceding period contrasted with a rise of $676,051,000 between the two similar

® | weeks last year.

U. S. STATEMENT

WASHINGTON, Nov. 6 (U. P.).—Government expenses and receipts for the current fiscal Year through Nov 4, compared with This Yea ast Yea 83. 313,453, 923. 23 $3. 319; 396. 283. 20 - 1.808, 669,068.68 1,848 556,403.77 1.419, 5 854. is } 1. a a1. 43

‘1 402,021,754.5 180. 41 i ‘383.0 Pub Debt. HE Gold Res. 31887, 791,061.60 17,112, Customs .. 104, 731,330.) 380.13 133,

060. 2 38.036. 54

smart styles . . . are scientifically and anatomically correct. Step right up, mister, into a pair.

of flattering "Uppers"!

MEN'S SHOES, SECOND FLOOR

Shaves in

Two heads are better fast! Company found out

Dual. to all other types of b

the Beardascope revealed

and Sideburns

L.S.AYR

That's what the famous U. S. Testing Men with all types of beards and used

actually shaved in better than 90 seconds with Remington Dual.

shaves as "close as a blade."

Remington Dual Shaver ,..,.. 1575

Ask to see the Remington Triple Head Shaver, an Extra Head for longer Hairs, Mustaches -

MEN'S FURNISHINGS, STREET FLOOR

than one, and ‘twice as about the Remington lade and electric razors

And the scientific that the Dual really

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