Chicago Tribune from Chicago, Illinois • 35

Si7 So CHICAGO DAILY TRIBUXE: FRIDAY, 7, 1940. BUSINESS GREED Business Bits O'Neal Seeks Barter of Farm Goods for Vital War Supplies PHILIP MORRIS PROFIT IN YEAR BEST IN HISTORY RAIL EXECUTIVE OPPOSES PLAN OF POOLING FREIGHT ALLIED DEFENSE BRINGS UPTURN IN GRAIN PRICES Course of German Bonds Since the Blitzkrieg Kenneth Gifford, who joined Schick Dry Shaver, Inc, on Jan. 1 as general sales HELD THREAT TO FREE ENTERPRISE BY JOHN FISHER. Chicago Tribune Press Berrlee. Washington, D.

June 6. A plan for bartering surplus farm products COLLAs Market Price ef German I'M on! Gov't Bond, 0f o65 for strategic war was 22 President manager, yesterday was made a vice president in charge of sales. Gifford formerly was general sales manager of the Toastmaster division of McGraw Electric company, was formerly of Minneapolis and more recently of Elgin, III. 1 4Vr I materials 1 1 iven Pres Roosevelt lV Ji by Edwar -4 O'Neal of jT'-K I materials today A. Cigaret Maker Nets $8.38 a Common Share.

Deasy Warns Rates Will Rise Under Scheme. Condemns Profit Motive in Federal Competition. Late Buying Sends Wheat Fractionally Higher. Chica ill Atlantic City, N. June 6 Special.

The real danger to private en CHICAGO GRAIN PRICES go, president of the American. Farm Bureau federation. O'Neal conferred with Mr. Roosevelt on agricultural problems arising from war conditions which have severed European market for American food mi 1 D. H.

Beatty, superintendent of safety of the Southern Rail-way system, w-ns named chairman delivery Chicago Tribune Press Sen-Ice. 1 Teshir.gtor., D. June 6. J. F.

r5y, operating vice president of the Pr.r.sylvania railroad, today opposed pooling of the nation's i than carload freight traffic. He sa.d jrh a rr.ove would inevitably r-ek the public pay higher rates for ppr-rr service. Dfajy testified before a subcommittee cf the senate interstate commerce k. r. r.ifford.

Closing prices on the July of principal grains on the Board of Trade: Yesterday. Wednesday. wheat Corn 63 .6296 Oata Rye AM tin ji4 19 IS: 1720 22 24 .27 29 I 4 May Ju .01 .03 Soy beans terprise in tfc United State is vetsd. in business mn who co race th government's entrance Into th business field in their own hope tor Imm i a profits. CoL Robert H.

Henry, assistant to the president cf th Association cf American a 1 1 -roads, said hers today. He spek- before the final ies- 'Established minlmnm. to make loans for the purchase and storage of strategic war materials and for other purposes in connection with the defense program. The section of the Steagall bill In which O'Neal, on behalf of the farmer members of his organization, expressed interest was one providing that corporations organized by the RFC to acquire war materials may require "whenever practicable" that payments for such materials be used for the purchase of raw or manufactured agricultural commodities to be exported from the United States. O'Neal would make this provision compulsory.

He urged formulation of a coordinated policy to cope with the agricultural surplus problems growing out of the war. O'Neal proposed to the President an additional appropriation of 100 million dollars for disposal of farm surpluses and another 100 million dollar fund for the American Red Cross to buy farm supplies for war relief in Europe. Favors CCC Increase. O'Neal would also increase the borrowing power of the Commodity Credit corporation from 900 to 1,400 million dollars, as provided in the Byrnes-Steagall bills, "to enable the corporation to cope with the needs for commodity loans to help stabilize farm prices." Carl B. Robbins, president of the Commodity Credit corporation, appeared before the house banking and currency committee In support of the increase in borrowing power.

He predicted that the corporation soon would be asked to make loans on 3,300,000 bales of cotton, 260,000.000 bushels of corn and 140,000,000 bushels of wheat. Robbins reported that on March 15 the corporation had a balance of 33 million dollars available for new loans. The corporation was organized in 1934 with a capital of 100 million dollars and borrowing power of 900 millions. Wheat ranged within the limits of about a cent yesterday as traders REPORTS NATION UNSURPASSED IN stood quietly on the sidelines watch' lng news from the war front. Trade in all the pits was quiet and prices of the safety section of the Association of American Railroads at its annual convention in St.

Paul, yesterday. Gov. Harold E. Stassen of Minnesota was the principal speaker at the luncheon meeting. Harold J.

Wylie has been appointed office manager of the district sales headquarters of American Airlines, at 20 North Wacker drive. A. F. Allen, secretary-treasurer cf the American Steel and Wire company, completed his 50th year of service this month with subsidiaries of the United States Steel corporation. One thousand two hundred mem stuffs.

The farm Edwara A. O'Neal. leader urged that a proposed amendment to the Reconstruction Finance corporation act, now before congress, be changed to make mandatory instead of discretionary the bartering of farm products for war materials. O'Neal referred particularly to a bill introduced by Representative Henry B. Steagall which was reported out by the banking and currency committee on Monday and now awaits action by the house.

Provide Vast Powera. This bill provides for RFC powers to create or to organize a corpora wandered aimlessly downward. 'MOTORIZED' WAR In the last hour, news that allied forces were making a strong stand which is conducting an into the handling of less than carload freight, including forwarder rid express trafEc. There are sev-erI bills on the subject before the eotr.rr.inee. Called Reward to Indolent.

Compulsory pooling of traffic would prrve a regrettable mistake and the public cf progress already rr.aie. Deasy told the subcommittee. He characterized th proposal as a schene to penalize resourcefulness ar.S "reward indolent and Inefficient carrrs at the expense of the jTgre ssive ones." "A maximum cf efficiency and in the handling of merchan on the Somme front broke the down ward trend and prices rallied. Wheat Zcdcr Places Science First in Defense, Continued from page S3, column 8. tion or corporations with such powers bers of the Chicago chapter of the as it may deem necessary to aid the government of the United States In its national defense program when Col.

R. If. Henry. SlOn ef the Edl- son Electric Institute convention, attended by more than 2,000 representatives of the electric power and light Industry. Declaring the mistakes cf railroad operation in the world war wcu'4 not be repeated, CoL Henry said the railroads had worked out a plan with the Joint army munitions board which "Is so simple that cur best planners do not like it at alL" Let Railroads Alone.

The plan, he said, "is-just like this: Let the railroads run the railroads; let freight move just like it always the engineering specialist with the X-ray, spectograph, and oscilloscope, who now Jg able to differentiate be Telephone Pioneers of America dined last night in the Palmer House. Twenty-two years' association with Net income of Philip Morris cigaret and tobacco products manufacturer, for the year ended March 31 was the largest ever earned by the company, O. H. Chalkley, president, said yesterday in his annual report to stockholders. Profit was $7,435,766, equal to $8.38 a Ehare of common stock, compared with $6,551,297, or $7.34 a share, in the preceding fiscal year.

Chalkley said net sales for the latest fiscal year also established a new high mark at $73,344,159. In the preceding year net sales totaled Auto Frame Maker lias Gain. A. O. Smith corporation, maker of automobile frames, announced that its profit for the three months ended April 30 was $413,456, equal to 83 cents a share.

In the corresponding period a year earlier the company had net income of $310,155, equal to 62 cents a share. The figures included wholly owned subsidiaries but not affiliated companies. Hayes Manufacturing company and subsidiaries reported consolidated net loss of $79,963 for the March quarter of this year. This compared with net loss of $95,327 in the corresponding period of 1939. The company manufactures automobile bodies, tools and metal fixtures.

Lee Rubber Earns Less. Lee Rubber and Tire corporation had consolidated profit of $456,094, equal to $1.70 a share, for the six months ended April 30. In the corresponding period a year earlier net Income was larger at or $2.55 a share. Corporation net Incomes reported yesterday included the following: Quarter Ended April SO. 1040.

1939. Smith A. 413,456 810.155 Fer share .83 .62 Sis Month Ended April SO. Lei Rubber 456,094 652.072 Per share 1.70 2.55 Quarter Ended March 31. Hayes NfK.

T9.9(i,1 95,327 fcli Month Ended March 31. Hayea Mfg- 167.116 "113,216 Year Ended March 31. Philip Morrie 7,435. 'tirt 6,561.297 Per ehare 38 7.34 Quarter Ended April 27. Universal 620,370 681, 5S7 Net loot.

requested by the federal loan admin the telephone industry is the requi istrator with the approval of the President." Thus it would provide tween assumption and fact." Keller told the group that the auto site for membership in the Telephone Pioneers, a national organization with mobile has passed thru two eras and Is now entering a third. The first 54 chapters. A. P. Hyatt, general for seemingly unlimited powers to put the government in business.

A similar bill was reported to the senate recently. nianfc Euoervisor of the Illinois I3eu era, that of the assembled car, Telephone company, was installed as lasted up to about 1925. The second era was that of the engi Both bills would authorize the RFC moves, have not had a car shortage in nearly 20 years. president. Trimnnrl O.

Gschwind. 69 years old, Warning against what he termed URGES SELLING last night received the congratulations-of his colleagues for his 50 years closed from to cent higher than on Wednesday and corn finished lower to hi cent higher. Traders Shun Market. Many dealers hesitated to enter the market because of minimum price restrictions placed in effect on May li Late strength in stocks contributed to the buying that took up the slack in the wheat and corn pit3. At the time buying started, December wheat had sagged to within a fraction of the minimum.

Much of the buying In corn was attributed to local traders who bought December contracts and sold July. News that the government was shipping domestic corn to the Pacific coast meet the competition of Argentine corn, gave additional support to the corn transactions. Humor Federal Buying. There were ruwors that the government may purchase whole wheat flour in sufficient quantity this week-end for relief purposes to rcise the market out of its lethargy icuch as government purchases of frn products last week-end developed strength In corn prices. Few trades were made in oats, rye, and soy beans, with prices bogged down at or near the established mini-mums.

Rye traders made a number of switches from the July to the December delivery. Trade on the other exchanges was light. The first car of new wheat received at Kansas City was sold at auction. the "fifth column In private enter-prise," CoL Henry declared the acts of business men seeking to have the FREIGHT LOADINGS CUT BY HOLIDAY, BUT TOP 1939 BY 131 PER CENT In the employment of lenders, rary government "provide transportation Sr Clark, manufacturer of cutlery ana DRIVE TO END UNCERTAINTIES Milwaukee, June 6 Special, for them at less than cost constitute the greatest single threat to the solvency and the future of railroads." Other metal products, at a banquet In the Illinois Athletic club. He complet-ari half centurv with the company The Association of American Rail Uncertainty and problems caused by the European war can be ended Samuel Ferguson, president of th Hartford Electric Light company.

April 14, but became ill and the din roads reported yesterday 639,126 cars ner in his honor was postponed. by selling and extensive advertising, charged that advocates of government neered car which established the design and construction of automobiles on sound principles. New Era In Autos. The new era, he said, is that of the scientific car In which "pure science la asked to bring obout Improvements. Scientific instruments make possible the scientific era.

The two new engineering buildings, each more than 500 feet long, add 162,000 square feet of floor space to the company's already large engineering and research departments. The instruments and machines contained in the structures make possible the most exact study of every detail of automobile operation and construction, and the many materials used in producing the automobile, Keller said. 1,500 Tests Each Day. In 1924 Chrysler's research facilities were housed in three rooms in a small wood building. they were O.

E. Jones, vice president in charge of sales for Swift Chicago packing concern, declared here today. He addressed the National Federation of Sales Executives. dise trafHc," he said, can be achieved crJy by the railroads themselves handlir.g It directly." This, Deasy said, was demonstrated on hi3 own rail-rrad by the public's response to im-j roved methods. Add Extra Services.

Das;" showed on charts that since the Pennsylvania has Increased its volume of less than car-laed traffic, which now produces 10 jr cent of its freight earnings from til sources. Service contributing to this result, he said, included heavier 1-adirg jcr car, the usa ci steel li 'iiht containers, the adoption of the "zore concentration station" system, the establishment of pick-up and de-livery, ar.i greatly simplified billing and accounting. Ee described the freight forwarder es a middle man who selects only the ir.ost profitable forms and leaves the less profitable portion of the business tn the railroads Deasy said that the outstanding ror cf transportation today is to together rail and truck service so that each will handle the traffic to which it is best adapted. Chicago Cosmetics Firm Cited by Trade Commission The Federal Trade commission has i a complaint against Lady Hither, Chicago cosmetics distributer, ordering the concern to tttit representing that its Lady He the face cream will penetrate the skin, that it will cure a dry that it will remove all wrinkles i.ri and dissolve dust, dirt or Kin cells and that these res' are guaranteed, unless the true riture cf rt.e guarantee is disclosed. "It is up to us," Jones said, "by wise and inspired selling cf our prod TREASURY PUTS DEFENSE GIFTS IN GENERAL FUND Chtraio TrHiune rresa Servlre.1 Washington.

D. June 6. Unconditional contributions received by the treasury during the last several weeks of revenue freight were loaded during the week ending last Saturday. This was a decrease of 48,364 cars, or 7 per cent, compared with the preceding week, reflecting the effect of Memorial day holiday. It was an increase of 75,817, or 13.5 per cent, compared with a year ago, and an Increase of 136,509, or 27.2 per cent, compared with 1938.

The report classified the loadings as follows: Wk, end, Freced. Tear June 1, wtek. ago. ucts, to see that as many people as possible are kept fully and happily employed In the months to come. "Sales management In the United States has greater possibilities than for use in connection with the nation COURT SWITCHES in any other country," he continued.

"In no small part this is made possible by the press with its freedom expanded Into a four Etory building Misc freight 257,175 22,259 27,032 Less-than-earlot al defense program will become part of the general fund of the treasury, from which all government ex-Denditures are made, Secretary of the BANK'S JUDGMENT to which two more floors eventually were added. The new structures of expression in both the news pages and editorial columns. merchandise ..130,433 If, 467 2,881 Coal ......113.988 3,308 24, SOS nearly double the size of the labora Our selling efforts are made TO INDIANAPOLIS The United States Circuit Court of Grain and grain product 27.243 2.1 S9 3.056 Treasury Henry Morgenthau Jr. said tories and make them one of the world's great scientific establishments. Appeals yesterday reversed a District Live etoi-lc 10.f.)3 27 -I- 7tia Forest .12.263 2,403 4.913 Ore 641.603 644 20.r;6 Coke H.821 150 3,506 Even more buildings are being today.

It Is understooa tnni ewoui $2,000 In such contributions have been received. They will be shown In the treasury lnipment as "miscellaneous receipts court judgment which allowed the Chase National Bank of New York to recover 51,032,150 in defaulted interest more effective by edvertislng in these publications," Jones added. As an indication of our reliance on advertising as a valued selling aid, Swift Co. campaigns In newspapers are now the largest in the company's history." WAGE-HOUR LAW ownership of utilities were using "fifth column" tactics to Induce public regulatory bodies to adopt raics which, he said, would cripple privately owned companies to the point wh-ra they would no longer be able to render adequate service. Urges Business Drive.

A larger volume cf new business and increased sales per customer are necessary to overcome the effect electric rate reductions made in th last decade, F. A. Newton, rate expert of the Commonwealth Southern corporation, told the delegates. Howard Coonley, chairman cf the board of the National Association cf Manufacturers, addressing the convention, discussed his organization" program of "mobilization for understanding of private enterprise," tvA urged all Industry to enlist in the campaign. "Just as churches are vigilant in defending religious liberty, educators in defending academic freedom, editors and publishers in defending a lrce press." Coonley said.

so we who are engaged In Industry have the right and the duty to defend frte economic enterprise. Chicago Firm Bids Low on Lawrenceburg Levee Cincinnati, June W). A bid of by the Marsch Construction company. Chicago, v.ai io' among six estimates for construction of a three mile flood protection earthen levee around Lawrenceburg, Ir.d Maj. Fred T.

Bass, United States district engineer, announced today. Th levee will almost entirely surround the town, with the northwest coiner, a hich point, remaining open. planned, according to Zeder. On the average day," he said, 1,500 research tests and projects are In progress here. And each one of them has a state objective, a detailed budget and a deadline for completion." coupons from the Indianapolis Gas company and ruled Instead that the CHARGE BRILL CO.

OFFICERS WITH donations for national defense." There is no earmarking of treasury receipts for specific purposes. Concerning a number of plans submitted judgment Is enforceable against the cily of Indianapolis, The original judgment was entered for soliciting funds from tne puonc, frtrrpnthan KA id that the sole author FUND DIVERSION Philadelphia, June 6 by the Indianapolis District court in OB ity for determining revenue raising the bank's suit against the Citizens Gas company and Indianapolis Gas, SAID TO HAMPER SAFETY IN MINES Washington, D. June 6 W). eral executives of the J. G.

Brill com pany and three affiliated companies OKR. which combined in 1913. The appeals court held that the Wage-hour regulations were said were charged by a group of stockholders today with mismanagement and diversion of funds. combination of the utilities was valid and the judgment enforceable against tan Ilvbin Thrives, Orph WALLACE SAYS WAR MAY DOUBLE FARM MIGRANTS Washington. D.

C.s June 6 European war, Secretary of Agriculture Henry A. Wallace has advised congress, may result in an increase from 350,000 to 830,000 In the number of migrant farm families who go about the United States looking for temporary work in orchards and fields. This gloomy forecast became known today with publication of senate hearings on the annual relief bill. The senate agriculture committee Increased rural relief funds administered by the Farm Security administration from the $115,000,000 voted by the house to $200,000,000. Wallace told the committee that it would cost the government less to make grants and loans to help low income families stay on farms, than it would to let them migrate and eventually fall on rural or urban relief rolls.

He said that the loss of exports, due' to the war, had greatly increased the farm problem. SAYS SEC CHIEF IMPLIED BANKERS WERE LOBBYISTS Charges that Jerome N. Frank, chairman of the Securities and Exchange commission, made Incorrect implications against the Investment Bankers association in a letter to Representative Walter M. Pierce Ore. were made yesterday by Em-mett F.

Connely, president of the today to be hampering safety work in the coal fields. James F. Bryson, director for the Harlan County Ken A petition filed by executors of the the city as the owner of property for merly held by Citizens Gas. tucky Coal Operators' association, estate of Frederick W. Brill contended that because of mismanagement assets of the J.

G. Brill company had The bank brought suit as a bond told a house subcommittee the admin istration required payment of time shrunk from $15,225,356 on Jan. 1. 1926, to $9,175,428 on Dec. 31, 1939.

holder and trustee under a deed securing payment of principal and interest of Indianapolis Gas bonds. The lower court had held the lease and a half overtime to men attending safety and first aid training The petition listed as defendants courses. John D. Battle, executive secretary measures rests in congress. BANK CLEARINGS SLUMP SHARPLY DUE TO HOLIDAY New York, June 6 (tV).

Bank clearings in 22 leading cities during the five day business week ended June 5 totaled $4,753,874,000, a drop of 16.8 per cent from $5,717,127,000 in the comparable 1939 week, a six day period, Dun Bradstreet reported today. The drop from the preceding week was $963,674,000. Because comparisons with last year were distorted by the Memorial day holiday falling in different weeks, a truer picture was possible by comparing the last two weeks with the corresponding two week period In 1939, which showed a rise of 4.4 per cent. New York volume shrank to or 22.9 per cent less than Charles J. Hardy, Leslie E.

Hess. Edmund I Oerter, J. Homer Piatt en, L. A. Blackford, II.

C. Wick, J. W. Robb, and William J. Beatty, whom of the National Coal association, said DEBATE PAYMENT OR REDEMPTION it identified as officers or directors of the Brill company, the A.

C. F. Motors company, the American Car OF FEDERAL ISSUE Washinzton. D. C.

June 6 Of). Sec and Foundry company, and the Amer ican Car and Foundry Motors com retary of the Treasury Henry Morgen- the ruling provided that where minors attended voluntarily payment was not required but if company officials directed attendance overtime must be paid. Bryson said the federal mine inspection bill would not curtail accidents, adding, "annual inspection would not show dangerous conditions of roof and haulage ways it takes continual inspections to minimize such conditions." pany. thau Jr. said today he wouia announce next Monday whether the treasury AUCTION BLOCK would refund or redeem in cash BEATRICE CREAMERY COMPANY Notice la hereby given that, tn the exercise of the right reverted tn Its of Incorporation.

Beatrice Crtasicry Uc-pany has elected to redeem cn Ji' 1940. B.C00 shares cf its i Cumulative Preferred fctocli (without warrants) by lot from all of the issued shares, it the redemption pnee specified in the Certificate of Incorporation, naaiely. $iC5 per share plua the accrued dividend psyac on July 1. 1940 amounting to 1 25 Pr share, or a total of 1C.5 for each ahara called for redemption. The certificate numbers of the hares called for redemption axa ax lows: 993,450 of treasury bonds which nave already been called for redemption on June 15.

June 6, 1940. THE robin fledgling which became an orphan about two weeks ago when its mother cf injuries continues to thrive and now is demanding so many rrrrs that it takes a regular digging brigade working long hours to i.e-rp it well fed. This little bird 1 rimed Jill by the women who are lacking after it had to be fed by land when it was brought into the I -use and it was given water thru je drepper. This week the robin, growing iap-lily as a result of the excellent care It has received, was given its free-crm. for the women noticed that it fly quite well.

But this handled fledgling doesn't want to move cut into the wide open spaces and lock after itself. It goes away for while and then comes back to the hruse, clamoring for free food served is such a way that it doesn't have to do anything but open its mouth cr.d swallow. So contented is this musing bird that no one has seen mere than T5 yards away from the to use. Mallard Babies Growing. The mallard ducklings which were th first to hatch in the new electric incubator set up on the farm this are not being pampered like the crphan robin.

These nine healthy vcur-rters are so strong that they been moved from their original fccme to make room for the pheasants few days. The mallard ducklings were transferred from the little house where the electric hover is situated to an outdoor pen. A little later they will be placed on one of the ponds with the other aquatic birds. The white Plymouth Rock hen which has been Incubating a clutch of silver pheasant eggs has been one of the steadiest sitters the men ever have used on game bird eggs. The silver pheasant eggs were received at the farm ahead of the main shipment of game bird eggs, so this quiet old hen was given the job of incubating them.

Her chicks are due In a few days, and because of her excellent nesting record the men are expecting a good hatch. Ducklings on Parade. In the barnyard the annual parade cf Muscovy ducklings and turkey poults is well under way. During the last week three Moscovy hens proudly walked out of the nesting house followed by strings of fuzzy yellow ducklings. One hen has 15 little ones following her around the yard, a second has nine, and the other has six.

A turkey hen which left the barnyard to make her nest under an old rail fence near one of the farm ponds gave the flockmaster the big surprise of the week. Her nest was in such a low place that during the rainy spring season it was almost flooded several times. But evidently the moisture didn't dampen her spirits or her eggs, because this week she hatched 11 poults. OF BANK SHARES IN EAST TODAY New York, June 6 block of $3,570,489,000 a year ago. Turnover at other cities of $2,000,881,000 was International developments In the association.

Connely made the charge 6.8 per cent below the $2,146,638,000 in 1939. Chicago clearings dropped 5 next few days; as they affect financial markets, will determine his action, he said. No other financing, he added, Is 20,000 shares of stock of the National City Bank of New York will be put per cent to $319,700,000 from rtf. Pre- Ctf. Pre- Clf.

Pre- f. Nos.fixea Nos fixes Not. lues New up for sale at public auction Jer ma NO 723 contemplated this month. It is understood that if market conditions are favorable holders of the sey City tomorrow by Adrian H. Mul- 274 276 300 fTCO 733 TN CO NO CO 11 TN'O in ler Son, auctioneers.

The name of the owner of the shares wa3 not 203 1C old securities will be offered a new TNO NO CO TNO CO 131 krxo 312 treasury obligation in exchange. As TNO lit 739 740 75 771 789 TCO III made public. rrco Financial observers pointed out CO 140 NO CXO 327 TNO 327 TNO 332 732 TCO an alternative the treasury may use its quarterly June 15 income tax receipts to pay off the bonds and reim NO fTCO J4i that while the block was large, securities auctions were not uncommon. In fTCO TCO 797 TNO 103 Prefixes NXO TNO NO ex cx cx exo NO NO TN TNO CO CO NO 143T CO 33S NO 82 burse itself by selling more short XO 339 in a letter to Pierce. Frank's letter, to which Connely objected, was incorporated In the "Congressional Record by the congressman.

Connely charged that Frank, by quoting only a part of an association statement, createc the impression that the organization was planning a lobby for repeal of the securities act. Connely said Frank omitted a paragraph which explained that the association was seeking remedial legislation facilitate flow of capital Into industry. Bills to Revise Securities Act Given Both Houses Washington, D. June 6 (Special. Proposed legislation to amend the Securities and Exchange act of 1933 in line with recommendations TNO S34 TNO thin markets such as seen recently, shares would have to be fed to buyers BUILDING TOTAL DECLINES DURING HOLIDAY WEEK New York, June 6 (5s).

Engineering construction awards in the week ended Tuesday totaled 5644367,000, against 578,575,000 the preceding week and $84,640,000 in the like 1939 period. Engineering News-Record reported today. The latest period included the Memorial day holiday. For the year to date construction totals $1,201,820,000, a drop of 15 per cent under the like 1933 period. Private awards thus far were 15 per cent ahead of the comparable 1939 figure but public contracts declined 25 per cent.

The week's awards by groups compared as follows: Latest week. 1939 week. Private S14.241.000 519,538,000 Ftate. municipal 48.049.000 49,458.000 Federal 4.677.000 15.644.000 13 19 20 31 22 27 29 30 32 as 40 67 60 7S 79 79 80 82 9 95 96 68 NO 85 TN 348 CO 353 CXO 365 1V l'C NO NO TNO 8 "2 000 last year. Railroads Ask Dismissal of Antitrust Action Washington, D.

June 6 Special. Dismissal of the antitrust suit brought by the government against the Association of American Railroads, its officers and directors, and 236 member railroad companies, was asked by the carriers today in a petition filed in the District of Columbia federal District court. The brief held that the resolutions upon which the government based its suit have now been rescinded. The court will not act on the plea until an answer is filed by the justice department which charges railroad discrimination against truck carriers. in small blocks if disposed of thru the 883 rrso imi 371 NO CO term bills.

Wisconsin Steel Company Employes to Vote on Strike 80 CO TNO 151 NO usual open market channels, whereas TNO 894 NO IV 371 390 392 410 TNO 134 TNO 902 CO iTNO l- CO via the auction block groups usually are organized in Wall street to bid for the offerings in large parcels. 928 S29 rrNO 418 TNO rrco A strike vote will be held today by fCXO 429 fTNO rrNO CO CO TNO 443 TNO 4" ari other rame birds due in the next iTNO 174 CO National City stock today was quoted at $22.25 a share bid, $23.75 B61 S72 S7 1043 1058 1062 CO NO rrNO NO 463 TNO 107 CO (TNO 1T rrNO 490 109 asked. employes of the Wisconsin Steel company, 106th street and avenue, an affiliate of International Harvester company. About 3,500 of the workers are organized into the Progressive Steel Workers' union, an in TNO 1T2 NO FARM LANDS CO 620 TCO 525 TNO 109 TNO 110 TNO CO loej 1078 rrso i2 NO TNO 628 May Production of Steel 112 113 rrNO is: TNO 10S rrNO 53 CO rrso 639 CO 135 NO CXO 138 CO 108 CO 1092 CO 1094 TNO 10S5 made by the Investment Bankers' association has been Introduced in both the senate and house. Representative Clarence F.

Lea Cal.l introduced dependent union. The company nas offered the workers a profit sharing (NO Indiana. 320 AC excel, stck. am. farm 70 ml.

Si E. Bordering Kankakee River, deen black toil: jirnduces 70 to 00 bu. corn per ac. Good bldacs. Pilo.

Price reduc to S6a ner ae. Gd. tms. Brokers Co-Op. S.

Berry. 65)38 Throop. 862 668 S69 681 (TNO rTNO 2 fNO 2-J4J (TNO 2CJ Ingots Rises 20 Per Cent Production of steel ingots in May rose 20 per cent over the preceding CO 141 157 183 TN NO 1142 NO plan in addition to regular wages, but TNO 6155 174 an amendatory bill in the house today the union is asking a 10 per cent TNO 213T TNO 2:4 TNO 22, co ia TNO 177 month to a totl of 4,841,403 net tons, TCO 1230 CO 1235 TCO 1237 CO 1238 NO 1238 NO which was a duplicate of one intro exo i wage increase. rTNO 196 NO 517 627 47 (TNO 25 CO CO cn duced in the senate recently by Senator Prentiss M. Brown Mich.J.

Hew Mexico. MOUNTAIN ranch In National Forest: permanent sprine- irrieatinic orrhard and alfalfa: uleftl for summer, for fall huntinr. or dude ranch Write Box 146. Mountalnalr, New Mexlro. the American Iron and Steel institute reported yesterday.

The production, representing 72 per cent of capacity. NO 1253 JBtt 205 216 CO NO Pennsy to Make Sterling TNO TNO TNO S45 TCO 12SJ IT CO TCO TN compared with 3,295,164 tons, or 48.64 TNO TCO 1271 TCO 231 INVESTING COMPANY REPORT. Investment Company of America yesterday TNO TNO .0 CO "ll TNO e7 TNO 1 CO 12T REDEMPTION NOTICE To the Holders of Ten-Year Notes of NATIONAL LOCK CO. Notice is hereby given that National Lock Co. has elected to call and redeem irom the holders thereof all oi its outstanding Ten-Year Notes, dated as ol Julv 1, 19.19, on July 1, 1940, at par and accrued interest to July 1.

I'IU. Such notes will be redeemeil on said date a the office of Harris Trust and Savings Hank, lit Vet Monroe Street, in the City oi Chicago. Illinois, and alter asid date fixed lor redemption (July 1, 1940) such notes shall cease to bear interest and no further inter-cat will accrue or be paid thereon. NATIONAL LOCK CO, By M. A.

SOMMER. Treasurer. Dated May 31, 194a Payments in This Country Philadelphia, June 6 (XP). The Pennsylvania railroad announced to CO ITNO 26.9 CO 238 TNO 241 CO 2S3 CXO 2S 1NO 264 NO 1.109 TN'O 1311 Michigan. ST river sallev farms Fruit and rain farms suburban homes and country estate home witb water IrontaKe: scenii; terntcrr: choices-t section lruit belt: HO miles Chiraso.

Write for list. McOraber Berrien Snrimrs. MIchiBan. reported a net aset value equal to ia prr share of common etock. compared with 20 39 on April 30 and with $18.15 per shar.

mi Mav 31. TOO 7,9 T'O 714 CO 714 per cent of capacity in May, 1939. Average weekly ingot production in May was 1,092,867 tons against 926.505 tons a week In April and 743,829 in May, 1939. TCO 131J day that interest payable in sterling on two Issues of consolidated mort Totals S84.067.000 884,640.000 Butter and Egg Futures Record Modest Advances Trading in butter and egg futures was limited yesterday on the Clflcago Mercantile exchange with both commodities recording modest gains. Reports that the government would be prepared to buy approximately 7H million pounds of American cheese June 19 lent strength to the butter futures, which closed 110 cent a pound higher.

The October egg futures gained 1-10 cent a dozen. Buick Sales During May Top Year Ago 32 Per Cent Flint, Mich June 6 (JP). Buick di OV LARGR PRETTY LAKE 8. W. MICH.

luu it. frontasre: ed. beach, part wooded: Only shares called. Payment of the redemption price each of said S.000 shares of ujc be made upon the aurrender of the store certificates representing the sam to Continental Illinois National Back ft Tt'-s Company of Oileago. Chicago.

r.iinoi. pt THE TEXAS CORPORATION Illinois. It "5 ATTS Vcrth cf McHerrv Ore of the rst la-3i ia county. Ail level black land. iX' ft b'rn.

silo. 9 rui. house. -l con? ta aa. tree settm.

uo-Tii ire prif- Running wal'r i- rsfj-e SI. 001 Term. Have la-p anj smaller farms Call Engel rs rf fsrrpe Co. i LONG. X'f'f OX If 25 mi W.

nf hen, on j'ST houc: r--rr bsitk pifri fclr-pinff And llv- t.tr be orchard; axlH. oul- i nd ncrl. oil tor en. tMrmttt; tri man who wluhe mm-t -r 1 TOjtiriKMi- livinc with profitable Atrr; Trlhtine. "c'rt sTWhe a ton" V-iTi 7 rrp hou.

twmrnt. hoi water bstbu. hardwood floors. (rst bou. and modern 4 Orchard fiji.

eleo. Near sausi! te-ros to rrOBsible buyer. 222. TRIBUNE. t-4" Ai Tit.k impro.

stock and train -st. fc cci. sn-ath: $50 pr acre: terms. 1 Fa- S. Mi-hican.

Pul. 4787. ACS fr- bard sd. land, trees. 7 rm.

ar chirk, deen well, A ir. Addre.s 412. Tribune. of porhelle-. rrairie soil: d.

W- S2.fM'0 Ion terms. 8- 1414 Chicago. lin4.i23 Indls na. 10 MONTHLY BUYS he V.vi. ooaed roiliPE'.

exl. eld. n. 1'rrim. Full nrtce only Pn Pull 4 or take T.

S- 41 e- -r. hn to Bout Then east r. ic crfssrosd. then richt 1H -o PON tr CD'S WOODLAND i I.re Csbin office. Take these --n.

Tf 1 h1s. rtkn. and squab, mch. on beau. Rr r.

nu-dn fine Irs. f-f-. Ersa C. E. Jackson.

4.1i Marion. elec. acre land, close town; ideal site for summer or vear round home. Only $50. Easy tms.

Address 665, Tribune. Standard (Ind.) to Supply American Airlines Gasoline to Ouaranty Trust uimpin or ms yore. 151st Consecutive Dividend paid by The Texas Corporation and its predecessor. The Texas Company 20 7 ml. city.

cleared: timber" 4 rm. hue barn. S7.VI. 2100 cash. $10 montn.

F.RWIN TTNN'EY Fremont- Mich. morale Trust Depart 140 Bread y. Nrw York City, at any time on as4 may. gage bonds will be paid at the company's New York and Philadelphia offices as well as at the Midland Bank, London. The English bank heretofore was the sole paying agent.

Oregon Power Company to Buy from Bonneville Portland, June 6 Special. Pacific Power and Light "company has entered a one year contract with 35 A nnr ft. lake 115 mi. rood soil, fruit; rood house; elec barn; $2,250: pt. cash.

Roessler. 140 8. Dearborn. Standard Oil Company of Indiana has signed a contrect with American Airlines, to supply more than 3,000,000 gallons of aviation gasoline during 1940, it was announced yesterday. Delivery will be made to Chicago and Detroit airports from the Standard refinery in Whiting, Ind.

60 A. 80 RODS RIVER FRONTAGE Tmb.r 3 after July 1. iu. Prom and efier July 1. 1940 an dividends on the said 6 000 shares of (5 Cumu.a:.r Preferred Stork will cease to accrue tn4 ail rights of the holders thereof as stocs-holrirrs of the Company, except the to detach the common stock purchase sir.

rants originally attached to said certificates and the right to receive the recetr.o-tion price, without Interest, shall cea and determine. miles cash price: othera, list. EVANS REALTY Fremont Mich. vision of General Motors corporation reported today that its retail sales tVlici ntln. HIDS FOK COVSTRPCTION Constrtirtlna Uuarternianter OtnVe.

Savanna Orilnainv pot. FroviniC Ground. I Ihnois Staled i.t will be reffiyed here until m. July 2. 1040.

anil then opened for constriw tion and completion of oonrct pavement Iieposit of certified check In amount of 516.00. parable to the Treasurer of the United Statea will be reouirwl for plana and specifications. Information above address, H. S. Encin-er Office." 816 V.

Court Houm Custom Houce. St. Loula. Mo Sealed bids received until a. June 22.

1940 for placine 1.716.001 cu. yds. of earthwork and const ructinir 7 gravity drainage structures tn rebuilding and enlararinsr levees in the t.Iesr Sreek D. L. Cnion and Alexander 111., on the MiesiesiDoi River.

Further information on application. A dividend of J0 per share or two per cent (2 on par value of the shares of The Texas Corporation has been declared this day, payable on July 1, 1940, to stockholder of record as shown by the books of the corporation at the close of business on June 7, 1940. The stock transfer books will remain open. L. H.

LlNDEMAN May 24. 1940 Treasurer of new cars during may totaled 26, BATLROAD LAND GRANT LANDS. $4 TO 55 per acre for (rood larm land adapted for 072 units, an Increase of 32 per cent Dated May 21. 1940. dairvinr.

live stock and rrajns. tood roads. water, towns Hcd markete. Pend for book- over the same period a year ago, BEATRICE CREAMERY COMPANT ANT let No. 6 R.

S. Claar. Land iJeDl boo i I The company previously reported Bt: Clinton EL Raske iken. Bonneville administration for power delivery to begin as soon as the government 110,000 volt transmission line from Portland to Astoria, is completed, probably in March next Line. Minneapolis.

Minn. H. E. Engineer Offl'-e. 816 U.

S. Court Hone Custom House, f-t. Louie. Mo. Sealed bide or placing- about 225.000 eu.

yds. of earth-wort in rebmldinr and enlanrinc levee in the Pond rtratnape District, Union bounty, on the Mississippi River, received until 10:00 A. June 22. 1940. further information on aprlicauoa.

Presldcct. sldcot. April sales of 28,652 vehicles. Un By order ef the Board of Directors. filled orders on hand at the end of Miscellaneous.

rNTJEPENDENCK. security, freedom for sale I Big 64 pare farm catalog-. 10 states, free. United. 7-E South Dearborn.

State 7875. May were reported at nearly 5,000, year..