Downtown

More automobiles were made in the U. S. in the first seven months of this year than were produced in all 1932. Last week Automotive Daily News estimated that August and September production had boosted the total to 1,725,000, more than 40% above the first nine months of last year. Dodge dealers reported sales for the week up 684.4% from a year ago, De Soto dealers 238%. Packard sales for September were at the highest monthly level in more than two years. Hupp reported a production gain for the fifth consecutive month. General Motors reported that Buick's September sales were 1,400 units above the previous year, Pontiac's 5,000, Chevrolet's 38,000. Combining the Buick, Oldsmobile and Pontiac sales organizations had not only bolstered dealers but increased those cars' percentage of the business in their price classes as follows: Buick, from 38% to 60%; Oldsmobile, 14.6% to 27.3% ; Pontiac, 5.9% to 7%.

P:Toward the end of 1930 U. S. citizens began to realize that telephones were not a necessity of life. Month after month American Telephone & Telegraph Co. had more orders for disconnections than for new connections; the system lost some 2,000,000 subscribers. A. T. & T. reports telephone statistics quarterly, but last week enough of its subsidiaries had reported for September to assure the system a gain of some 20,000 subscribers-- first monthly gain in nearly three years.

P:Directors of National Distillers Products Corp., No. 1 U. S. whiskey company, voted to split its stock 3-for-1--first major stock split of the New Deal. Leader of the summer bull market in alcohol stocks, National Distillers skyrocketed from $16 a share early this year to a high of $124, sold last week at $104. Among the large holders were the David A. Schulte interests which sold their Overholt and Large distilleries to National Distillers last June for $600,000 cash and 102,000 shares of common stock.

P:The quarterly statement of condition issued by First National Bank of Englewood (Chicago) revealed that its head, John M. Nichols, had made his bank 100% liquid. To criticism that First National of Englewood has been hoarding money instead of functioning as a bank, Mr. Nichols replied: "If I were to put any of our 17,000 depositors behind my desk to pass on the type of security borrowers offer these days they wouldn't make the loans. Then why should I? I haven't been making much money lately, but I've been playing a lot of golf."

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