Monday, Dec. 30, 1935
Downtown
In downtown districts of the land last week the following made news:
P:Night tariffs for long-distance interstate telephone calls average about 40% lower than day rates, go into effect at 7 p. m., apply to station-to-station calls only. In a new schedule effective Jan. 15, American Telephone & Telegraph proposes to extend slack-time discounts in approximately the same ratio to person-to-person calls. All discounts will also be extended to Sunday daytime traffic, night rates applying from 7 p. m. Saturday to 4:30 a. m. Monday.
P:Unseasonably mild weather caused a break in anti-freeze alcohol, the price dropping 5-c- per gal. to 44-c-. Of the 36,000,000 gal. of anti-freeze compounds used annually in the U. S. about 30,000,000 gal. are alcohol. Biggest anti-freeze company is U. S. Industrial Alcohol Co.
P:As evidence of its unique position in the minds of the Administration, Associated Gas & Electric was tagged with the biggest batch of income tax liens ever filed in Manhattan--a total of more than $53,000,000. Filed in Newark were other liens against Associated companies in New Jersey for $5,400,000. A personal action for $1,500,000 was started against Howard ("Scarlet Pimpernel") Hopson, Associ-ated's slick, roly-poly boss.
P:Warfare in the Virginia-Carolina Chemical Corp. (TIME, Oct. 21 et seq.), was renewed when supporters of ousted-President Alphonso Lynn Ivey tried to oust dictator-like Director George S. Kemp. At a special stockholders' meeting they failed to muster a quorum of 365,875 shares of common and both classes of preferred stock. They did have a quorum of the 7% prior preferred, but Vice President Gustavus Ober adjourned the meeting. Still displeased, the Ivey faction held a rump session, debated what to do next. Dictator Kemp held his saddle by a margin of 62,709 shares.
P:E. I. du Pont de Nemours & Co. announced that Cellophane would now sell for 35-c- per lb., moisture-proof Cellophane for 46-c-. This reduction was the 18th Cellophane price-cut since the product was introduced in 1924. From $2.65 per lb. in 1924 the price had dropped to $1 per lb. in 1928, to 60-c- per lb. by the end of 1930, to 45-c- per lb. in 1931. Moisture-proof Cellophane is the ordinary product plus a lacquer coating on one side. It appeared in 1927 at $1.60 per lb., dropped to $1 by 1930, to 52-c- in 1934. It sold at 48-c- at the beginning of 1935.
P:Wired New York's Mayor Fiorello LaGuardia to Grover Whalen, onetime head of Wanamaker's Manhattan store, now chairman of Schenley Distillers Corp.: ''Happy to note 10% increase in Christmas sales." Wired Grover Whalen to Mayor LaGuardia: "New York stores not enjoying sales increase. . . . Figures showed decline of 4.8%." Presumably Mayor LaGuardia's city sales tax was responsible for the decline.
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