Index

Securities. A renewed bull market swept stocks to new high levels for all time (see above).

Banks. The present second largest bank in the U. S. (Chase National) opened its new building at Nassau, Pine and Cedar streets, Manhattan. Visitors noted, through obscuring chrysanthemums: steel vaults five stories underground and five stories above ground; a long open counter in place of tellers' cages; bullet-proof glass capable of withstanding machine-gun fire.

The potential second largest bank in the U. S. (the merged Continental National Bank & Trust Co., and the Illinois Merchants Trust Co., both of Chicago) remained an interesting rumor. Interesting, also, was the discussion of able Eugene Morgan Stevens as its potential president. Banker Stevens, 57, is golfer, fisherman, Republican, Methodist. He is now president of the possibly merging Illinois Merchants Trust Co.

Cinema. UFA, greatest of German film producers, started war on U. S. pictures (see p. 39).

Silk. In Manhattan, silk traders and speculators awaited opening of latest commodity exchange, to deal in raw silk futures (see p. 38).

Rubber. For U. S.-owned rubber plantations, Tiremaker Harvey Samuel Firestone went to Liberia; Manufacturer Henry Ford went to Brazil; U. S. Rubber Co. went to Sumatra and Malaya. Last week, the "biggest" Goodyear Tire & Rubber Co. registered a subsidiary at Manila. The Goodyear Rubber Plantation Co. hopes to persuade the Philippine legislature to amend land laws, sell a huge tract in Mindanao for a Goodyear plantation.

Cocoa. All over the world women are smoking more and more cigarets and eating less and less chocolate candy. This fact has finally caused the cocoa market to break. On the New York Cocoa Exchange the price of cocoa last week fell 115 points, its current price being about $200 a ton.