The Brooklyn Daily Eagle from Brooklyn, New York • Page 17

"17 Jouett Against TODAY'S MARKET BROOKLYN EAGLE FINANCIAL Domestic Users Rush To Cover Steel Needs Fear of Shortage or Delayed Deliveries Results in Sharp Increases in Backlogs Domestic steel and iron consumers have launched another of the Intensive buying movements which usually characterize "periods or great stress," the Iron Age magazine said today. Early Price Advances Scaled Down at Close Pre-Holiday Influences Dominate Trading-Steels, Coppers, Lead General Mild Upturn WEDNESDAY, MAY 29, 1940 that consumers are building fs jt- tf. maaaaaaBBBBBBBBi 7 r' X) stocks had backed down from their highs, some issues as much as a point or so, and the market was rather easy in tone. Trading volume remained light. Traders who had earlier taken long positions were obviously getting books even before the holiday.

Coppers remained relatively strong, although steel leaders had scaled down early South Puerto Rico Sugar rallied on the dividend announcement. Sales were 480,000 shares at 2 o'clock. Moderate Bond Gains Rather good demand lifted bond prices fractions to over 2 points in today's session. Both, domestic list and foreign dollar liens were Included in the advance. In the foreign list Scandanavian Issues showed the best gains as a rule, extending to around a point or so.

Italian bonds also firmed with Italy 7s gaining about a point. Belgian and German bonds showed relatively little change and Canadian Issues were usually steady. Improved tendencies were in evidence in the corporate bond section. Investment grade Issues recorded small gains In quiet dealings, while more speculative Issues extended their advances on a moderate scale as the session progressed. Convertbile and share privilege obligations worked higher Safely Razor Corp.

Reports 26c. Per Share First Quarter Income Compares With 39c. in Similar 1939 Period The American Safety Razor Corporation, of which Milton Dammann is head, reported today for the first quarter of this year a consolidated net income of after provision for depreciation, reserves and taxes (domestic and foreign), equal to 26 cents a share. This compares with net income of $206,673, equal to 39 cents a share, reported for the first quarter of last year. Directors declared a quarterly dividend of 20 cents payable June 29 to record June 11, the 67th consecutive regular dividend for the company.

In previous quarters the company disbursed 30 cents. Mission Corp, Mission Corp. reports for quarter ended March 31 profit of $290,849 before Federal taxes against profit $247,717 in March quarter of previous year. Capital stock on March 31 last, excluding treasury shares, amounted to 1,378,645 shares par $10. Report states that above profit is the result of dividends received by the corporation in the amount of $300,608 on its investment in Tide Water Associated Oil Co.

and Skelly Oil Co. PACIFIC WESTERN OIL CORP. Quarter ended March 31 net profit $61,240 equal to six cents a share against $147,536 or 15 cents a share in March quarter 1939. TJ. S.

LEATHER CO. AND SUB- up Inventories rapidly on the belief that the Allies as well as the United States Government are about to expand their steel purchases. Steel ingot production this week rose 4 points to 78 percent of capacity, the magazine said, "with further rises probable." The sharp advance in business this week, it added, "will bring May volume for some companies close to the high figures of last Autumn." Shortages Feared "Notwithstanding the caution and confused state of mind caused by the succession of disturbing news from Europe, steel and pig iron buyers have quickly sensed the possibility of shortages or delayed deliveries later on and are building up their Inventories in pnticipatlon of greatly expanded requirements of the Allies and our own Government for its national defense program," the periodical said. "Air bombing of the Ruhr district of Germany by the Allies has revived the danger that steel plants on both sides may be put out of commission, thereby increasing the dependency of the Allies on this continent for steel and pig iron." Backlogs Expanding Despite the expanded production rate and increased shipments, mill backlogs "are being built up at a surprisingly rapid rate," the maga zine said. The advance in scrap prices has been more hesitant, although the Iron Age steel scrap composite rose 25 cents to a new high for the year at $18.17, largely in reflection of a higher quotation in Philadelphia.

Commenting on national defense activities in the steel industry, the publication reported that the "first of many calls for bids" on army supplies are now being sent out. The Rock Island arsenal is asking private manufacturers to figure on an order for 1,000 fighting tanks. Last week this army department opened bids on 350 carriages for 37mm. anti-tank guns. Hanes Holds Tax Reform Essential To Aid Business Chicago, May 29 (IP) John J.

Hanes, former Undersecretary of the Treasury lnjtte Roosevelt Administration, contends that tax reform is necessary If the nation hopes to realize a full development of national defense. Speaking at the Illinois Bankers Association convention last night, Hanes proposed a seven-point plan for revision of existing revenue laws which he said would permit private industry to "resume its growth." His suggestions called for (1) repeal of the 1935 revenue bill, (2) reduce existing estate and inheritance taxes, (3) repeal of the capital stock and excess profits tax, (4) permit corporations to file con solidated tax returns whereby losses of one subsidiary could be used to offset profits of another, (5) repeal the tax on inter-corporate dividends, (6) permit Individuals to buy insurance to finance payment of death duties without increasing the size of their estates and the tax liability thereon, (7) tax Income on future Government securities. To finance the new defense program, Hanes proposed a revamping of the personal Income tax law to increase normal tax rates, reduce exemptions, Increase surtax rates in the middle Income brackets and lower the rates In the higher brackets. Porto Rican Vote Set Forms of ballots and other documents will be mailed on Friday to security holders of the Porto Rican American Tobacco Company, Nathaniel F. Glldden and John C.

Adams, chairman of the bondholders' committees, made known last night- following approval of a reorganization plan by Judge Henry W. Goddard In Federal Court. The plan is subject to approval by bondholders and the holders of Class A stock. on the average. Bethlehem Vis got to 106.

U. 8. Treasuries likewise reflected an improved Investor sentiment. Quotations on the long term Issues advanced In light dealings. Taxes and Labor Absorbing More 01 Steel Dollar The share of the steel Industry's sales dollar spent for payrolls, taxes, raw materials and other operating costs has increased substantially during the past decade at the expense of stockholders and corporate reserves, according to data published by the American Iron it Steel Institute today.

In 1939, the institute said, payrolls, taxes, materials and other costs consumed 93 cents of each dollar, ffecelved by the steel companies for their sales, contrasted with only 83 cents in 1929. 'Labor's share of each steel dollar received last year amounted to 37 cents, or nearly 5 percent more than in 1929 when 354 cents of each dollar went into payrolls. Almost 40 percent more of this sales dollar was needed to meet tax bills in 1939 than in 1929. Last year 5tt cents of each dollar went for taxes compared with only 4 cents a decade ago. Dividend payments In 1939 represented 24 cents out of each dollar received from sales and 3 cents were left In the business, whereas In 1929 stockholders received 64 cents in dividends and 9 cents were added to surplus.

The cost of raw materials, freight charges and miscellaneous expenses consumed 45 cents of each 1939 steel sales dollar, compared with 384 cents in 1929. Averages Compiled by DoiD-Jone' INDUSTRIALS 1940 High, 151.80; 1940 Low, 11344. 11 am 118.31 1.06 1 Dm 115.701.44 12 llt.01 1.79 p.n lU.Ol 1.11 RAILROADS 1M0 High, J2.67; 1940 Low, t2.ll 11 a.m. 12.M .04 p.m. J2.94 .13 13 m.

1 m. 3J.M .14 J3.M .14 m. UTILITIES 1940 Hlrh, J8.45; 1940 Low, II M. am 18 53 .13 13 11.64 I pm. 11.93 .01 .33 3 p.m.

US 1 .60 Sfe later edition! lor elojinf prices. The stock market moved up moderately In quiet dealings today, but (ailed to maintain all of Its ad-vance. Trading volume was only bout half of what.lt has been averaging. Prices showed quite food appreciation in some instances, gains extending to over four point at midday. However, these were not so well maintained in the afternoon and some issues which had risen during the morning lost a good share of the gain In the afternoon.

Gains of fractions to over a point were liberally sprinkled throughout the list in the late trading, If values were below the best of the day. Steels in Forefront Leaders in the upturns today were the steels, which showed advances ranging over a point at one time, but subsequently yielded up part of them. Bethlehem had worked up at one time to eliminate all of yesterday's seven-point slump. A few special Issues showed considerable strength throughout the day and held gains stubbornly; du Pont was strong spot. Activity developed In copper shares, but gains were not so extensive as elsewhere In the list.

Airplane shares came in for mild demand at higher prices. Not much attention was paid to utilities and rails by traders. There was more activity by traders in the steel group than in any other part of list. Long positions were being assumed in many instances on the theory that these companies will do better in the second quarter than had generally been anticipated a few weeks ago. This demand accelerated their ad-' vance, and all of yesterday's Initial losses were made up and exceeded In today's trading.

In the final hour of trading, Trading Quiet In Commodities Major commodity futures markets staged a moderate advance In quiet trading today. Domestic sugar futures advanced over 5 points on trade demand and producer buying. World futures were over 9 points higher. Activity In world deliveries was restricted as the trade studied reports that Great Britain and Canada are planning to purchase the exportable sugar crops of Australia, Mauritius and FIJI. Cotton futures developed a steadier undertone on trade and local professional demand.

Midday prices were 4 to 7 points higher. Washington reports Indicated that the British action in limiting imports of U. S. cotton to licensed shipments after May 30 would not immediately affect American cotton because shipments to the United Kingdom already are under heavy restrictions. Wool tops, cocoa, cotton seed oil and hides were firm on moderate commission house demand.

Raw silk was the sole exception to the trend, easing to 3W cents on weakness in Japanese markets. Crude rubber futures were 10 to SO points higher around midday on commission house and British dealer buying. Steadiness In primary markets was a steadying Influence here. Domestic wheat futures followed the rise in security prices. Winnipeg wheat was more than a cent higher, while Chicago, Minneapolis and Kansas City prices were up fractionally.

CHICAGO GRAIN, PROVISIONS Wheat- YOUHGSTOWN SHEET PAYS 25c. COMMON American Hawaiian OrdVs 50c. Extra-Other Announcements Directors- of Youngstown Sheet Tube CO. declared today a dividend of 25 cents on the common stock. The dividend is payable July 1 to record of June I.

A similar amount was paid on common on April 1, when dividends were re-, sumed. Petroleum Corp. Petroleum Corporation of America declared dividend of 35 cents, payable June 28 to record June 12. Payments last year were 30 cents June 28 and 40 cents Dec. 20.

South Porto Rico Sugar South Porto Rico Sugar Company declared an extra dividend of 35 cents share and a dividend of 25 cents on the common stock, payable July 1 to record June 7. The company made payment of 25 cents on April 1. Hawaiian Steamship American Hawaiian Steamship Co. declared extra dividend of 50 cents and regular quarterly dividend of 25 cents, payable June 29 to record June 15. Schenley Distillers Schenley Distillers Corporation declared regular quarterly dividend of on preferred, payable July 1 to record June 20.

Arnold Constable Arnold Constable Corporation declared dividend of 124 cents, payable June 27 to record June 14. Similar amount was paid March 25. Compo Machinery Compo Shoe Machinery Corporation declared regular quarterly dividend of 25 cents on common, payable June 15 to record June 5. National Cylinder National Cylinder Oas Co. declared dividend of 20 cents, payable June 2 to record June 8.

Paid same amount March 29. Robberoid Co. Rubberoid Co. declared dividend of 30 cents, payable June 28 to record June 12. Payments in 1939 were 30 cents, June 30, and year-end distribution of 80 cents Dec.

20. Sonotone Corporation Sonotone Corporation declared dividend of 5 cents on common, payable June 25 to record June 10. Paid like amount in March. Building Awards At Year's Highest Engineering construction aware for the short week due to tht Memorial Day Tiollday are at the highest level of the year. They top the corresponding week last year by 97 percent as reported by Engineering News-Record.

Both private and public awards exceed their last year's levels, private gaining 329 percent and public, 69 percent. The volume for the year to date, $1,136353,000, Is 15 percent below the volume for the corresponding 22-week period, last year. Private construction exceeds the period a year ago by 17 percent, but public awards are 2 percent lower. New capital for construction purposes for the week, $5,759,000, is 84 percent below the total for the corresponding week last year. The current week's financing is made up of $4,421,00 In State and munici- pal bonds, In corporate security issues and $38,000 in RFC loans for public Improvements.

New construction financing for the year to date, $581,403,000, is 33 percent lower than the $871,127,000 reported for the 22-week period last year. Open New Department Formation of a new department of the American Viscose Corporation to be known as the Economics and Statistical Department, has been announced. William L. Meyer, office manager of the New York office, who has been 21 years with the company," ts manager of the new department. 0 Title Guarantee andTrust Company Founded 1883 TITLE INSURANCE BANKING TRUSTS MORTGAGE SERVICING NEW YORK 176BroWw.r Em 44m St BRONX JTOEmMMiSi.

BROOKLYN-17) RanaaS 196 Mantafua St. JAMAICA I (O-Ot Jamais A. LONG ISLAND CITY Bn4a Plata Nnh Till liuuraqct Ofictt Whtlt Flaw Sc. Gaarfa, I. Ritarhtad Mioaela Mm FeJfril Prjit U.

S. Control Of Airplanes Blames Allies' Showing to Plant Ownership By the Governments Washington, May 29 Wr The plight of the British and Preach air forces, described recently by Prime Minister Winston Churchill as "Inferior" to Germany's, was ascribed today by John H. Jouett, president of the Aeronautical Chamber of Commerce, to part or full government ownership of their aircraft plants. Stating the case for the American aircraft Industry against any such move, Jouett said, "Right now you heir talk of airplanes being produce! in incredible quantities in a miraculously short time of airplanes which blacken the sky, hurtling forth to defend the country. "The cold, hard fact, however, Is that all you will see of American planes in those skies Is just what our present, regularly organized, long established and experienced Industry can produce and no more.

Any system other than orderly expansion direcied by our own air Industry leaders will fail and fall mlseraoly." On th' same program, before the National Aviation Forum, Commander Charles E. Rosendahl, of the Navy, asserted airships "are decidedly valuable to our own defense, or offense, at sea in our vast oceanic sphere where long range is an enormously vital factor." Production of airplanes, said Jouett, discussing the possibility of establishing Government-built plants, cannot be obtained "In time to be of value In this defense program merely by dumping public funds into brick and mortar in new localities, regardless of the inevitably extravagant cost or the attractive political factors which Government plants would involve." With complete nationalization of French aircraft plants, Jouett said, in August, last year, "knowing that they were on the brink of an abyss, the French produced fewer than 100 planes." England's system he termed semi-natlonallzatlon which resulted in "delay and obsolescence." The plants of Germany and Italy, he said, were not nationalized in the sense that those of the Allies were. Taxation Restudy Asked by Chamber An immediate restudy of the Federal taxation system as a preliminary step to the enactment of additional tax legislation for na tional defense funds and to remove existing tax curbs on the expansion of business enterprise was urged upon Congress yesterday In an Interim report made public by the Chamber of Commerce of the State of New York. The report, which will be presented by William J. Schleffelin chairman of the committee on taxation, at the monthly meeting of the chamber on June 6, expressed the belief that "in the near future taxation to pay for the increased costs (of rearmament) must be faced and paid by the nation for the maintenance of our national credit." A review of the various government relief agencies for the purpose of transferring all qualified personnel to the armament industries and "directing the facilities of such agencies to national defense" also was urged.

fv -s, TT" PRODUCTION WIZARD William S. Knudsen of General Motors Corporation has been named to the special defense commission. "is what Napoleon called two-O'clock-in-the-morning courage. The hour when most things happen- that shouldn't. It's the hour when the human system needs all the mental courage possible to bolster up the flagging physical courage.

If you have enough of that 'dewdrop hour' courage youll succeed. And it you have enough men In your organization with that kin' of courage you don't need slogjns ballyhoo or pep talks. Things will take can of themselves." The trade journal reported Copper Stocks Here Adequate For One Year Dallas Stresses Fact Defense Supplies Are Largely Raw Materials Present supplies of copper in the United States are sufficient to meet the wartime needs of the Army, Navy and Air Corps for one year, ac cording to C. Donald Dallas, president of Revere Copper Brass, and treasurer of the Copper and Brass Research Association. Dallas pointed out, however, that this does not mean that plants to manufacture shell cases, detonator caps, rotating bands, time fuses and aviation accessories are now ready for capacity production.

Manufacturers Limited This country's preparedness for vital defense needs in the copper field Is "limited to stocks of raw materials," he emphasized. "As Americans appalled by the lessons brought home to us by the events of the last few months, we ought to realize more than ever that preparedness is more than a matter of the possession of vast reserves of such raw materials and prefabricated Dallas said. "Ten million tons of iron ingots in warehouses may be of less use than a single anti-aircraft gun ready for action," he declared. Hits Labor Legislation Dallas said that for full national co-operation in formulating defenses wage and hour legislation must be revised. "It is not difficult tto foresee some of the objections which the suggestion will arouse.

The cry of setting back the clock of labor progress is bound to be raised. The hard fact remains that, under present legis lation, it is useless to speak of op erating industry at maximum ca paclty." Industry can keep the 40-hour week but it will not have capacity production if it does, Dallas declared. Better Prospects Facing Graduates Minneapolis, May 29 (U.R This June's college and university graduates are facing brighter Job prospects than at any time In the past three years, King Merritt, vice president of the Investors Syndicate, said here today. Reporting the findings of a sur-very conducted by the syndicate among placement bureaus of 345 American colleges and universities, Merritt stated that more than 88 percent of these agencies are predicting that at least half their 1940 graduating class will have steady Jobs before the end of this Summer. The survey also Indicated, Merritt said, that the aviation industry, virtually at the bottom of job opportunities a year ago, Is now offering the fifth largest number of Jobs, topped only by teaching, engineering, business administration and salesmanship.

These replies, he emphasized, were not influenced by President Roosevelt's national defense program of May 14, since the questionnaires were being tabulated four days earlier. Three Municipal Loans Marketed Three municipal loans aggregating $397,000 were the only new security issues offered publicly today. The Marine Trust of Buffalo, N. and R. D.

White offered $197,000 in 1.90 percent funding bonds of Franklin County, N. due Dec. 15, 1940 to 1949. These bonds were priced to yield from 0.25 to 2.00 percent. Halsey, Stuart Se offered $140,000 City of Maiden, 2U percent municipal relief bonds at prices to yield from 0.50 to 2.25 percent.

They mature June 1, 1941 to 1950. Third of the issues was $60,000 in 1.40 percent Bedford, N. highway bonds, due April 1, 1941 to 1944. These bonds were priced to yield from 0.50 to 1.25 percent. To Handle Ludlite Sales Russell M.

Allen, general sales manager of Allegheny Ludlum Steel Corporation, announces the appointment of Truman B. Brown as manager of ludlite sales, with headquarters at Watervllet, N. Y. BRILLO nrttri DMamf fifty Canta (SO.M) ot lain Clan an Qaariarlr DhMaal af Tmtr Cmla ((A M) Hf akan (mw StMk Brill ManrtatariM Caamar, arlll aU Jalr 1. IH.

twkfcaMm tmnt Jala ft, 14. akan a Ik kek la Cma. ImUn M. B. PraaMaat I MILTON DAMMANN, head of American Safety Razor Corporation, which declared a 20c dividend today.

Power Output Extends Gain This Week's Figures Highest Since March Electricity production in week ended May 25 rose to the the highest level since March 16, the Edison Electric Institute reported today. Output for the latest week was placed at 2.448.865,000 kilowatt hours, an increase of 11.1 percent over the 2,204,858,000 kilowatt hours generated in the corresponding 1939 week. In the previous week production totaled 2,422.212,000 kilowatt hours, a gain of 11.6 percent from a year ago. All Areas Expand The central Industrial region scored the largest year-to-year improvement with a rise of ,14.5 percent. The west central area showed the slightest advance, 6.2 percent.

Following are the percentage changes from a year ago for the latest two weeks by major geographic regions: Mar 25 Mi? 18 Up Up New England Middl Atlantic Central Industrial 14 5 S.H 12.2 13 5 8 4 11.1 70 7.2 IS 2 B9 13.3 13 7 5 8 lit West Ontral Southern States Rocky Mountain Pacific Coast Total United States Edison Gains 3 Percent During the week ended May 26 electric output of Consolidated Edison Company of New York System amounted to 139,200,000 kilowatt hours, compared with 134,800,000 for the 1939 week, an Increase of 3.3 percent. Bond Club Arranges 20th Annual Field Day Announcements In the form of a miniature newspaper headlining that each member. Individually named, Is "Subpenaed for Bond Club Field Day" are being distributed today to the 750 members of the Bond Club of New York. Complete details of the program fo- the 20th annual outing of the organization to be hel at the Sleepy Hollow Country Club on June 7 are outlined by Harold MacDougall, chairman of the attendance committee. John E.

Arrowsmith is chairman of the entertainment committee which comprises William H. Brown, Richard de la Chappelle, Joseph M. French, Wells Laud-Brown, George N. Lindsay, William A. Pidgeon, Richard Reeve, Robert Sayles and Bernard W.

Scharff. The musical entertainment committee consists of Franklin Field, chairman; Prescott S. Bush, Lee W. Carroll and Frederick M. Warburg.

SIDIARIES Six months ended April ju, net prum cuuui after dividend requirements on 7 percent cumulative preferred (on which there is an accumulation of unpaid dividends) to 20 cents a share on class A stock, against net loss $33,659 in six months ended April 30, 1939. WAUKESHA MOTOR COMPANY Nine months ended April 30 net profit $430,258, equal to $1.07 a share, against $192,672 or 48 cents a share for nine months ended April 30, 1939. For quarter ended April 30, last, indicated net profit was $289,145, equal to 72 cents a share, against $84,083 or 21 cents a share in April quarter of 1939 and $69,626 or 17 cents a share for quarter ended Jan. 31, 1940. Gasoline Stocks Continue Decline The American Petroleum Institute today reported a drop of more than 700,000 barrels in national gasoline stocks and a decrease of 25,000 barrels In gasoline production for the week ended May 25.

Stocks of finished and unfinished gasoline totaled 100.297,000 barrels against 101,015.000 in the preceding week and 84,845,000 a year ago. Production of gasoline amounted to 11,498.000 barrels, against in the previous week and 11205,000 a year earlier. Daily average crude oil production for the latest period was placed at 3,835.650 barrels, an Increase of 550 barrels over the previous week, and compared with 3,585,250 barrels in the corresponding 1939 period. Daily production for the four weeks ended May 25 averaged 3.793,800 barrels. Crude runs to stills averaged 3.580,000 barrels daily against in the previous week and a year earlier.

Stocks of residual fuel oil were 104.015,000 barrels compared with 104.245.000 in the previous week and 110,855,000 a year ago. KNUDSEN BRINGS GENIUS TO DEFENSE COMMISSION Terra Firma Detroit, May 29 (JP)A little more than a decade ago Chevrolet division of General Motors Corporation was assembling around 76,000 motorcars a year. Suddenly output Jumped in 12 months to a total of 1.300.000 units a year. William S. Knudsen who now brings to the special Defense Commission a production genius with few, if any, equals anywhere In the far-flung motorcar Industry had taken charge ot Chevrolet's destinies a few years earlier.

With but two or three exceptions each year since Knudsen took charge Chevrolet has ranked first In the volume of production In the automobile industry. Jumping production of Chevrolet from 76,000 to 1,300,000 in one year is but a lone example of the capacity for accomplishment of the 61-year-old one-time immigrant, who talks the language of the bench worker and refuses to be "glorified Helped Ford Empire For many years Knudsen was production chief of the Ford Motor Company, which he joined in 1911; he gave the Ford company its first million-car year. When he resigned he could justly claim to have taken a large part in building the Ford empire; during the World War he had fu'l charge of the Ford boatbuilding program. What's the secret of his knack for accomplishment? Knudsen himself probably couldn't answer that in any way other than that he puts himself to the task In hand. He dislikes anything artificial, anything savoring of affectation.

He favois simplicity, simple English and the elimination of red tape. "The one thing you must have to get where you want to go," says, In th world today a sound banking structure is highly Important toward maintaining normalcy. For over 50 years tht Kings County Trust Company has adhered to a "feet on the ground" policy and we have served this community and its people faithfully during many chaotic periods. Enlist bur experience and the friendly counsel of our executives in all trust and banking matters. We invite consultation.

Open Hlth Low Closlni Close 83 'i 83 83', 83 83'i 84H 83 83 83 83 8444 93 MM 84 Corn 63 63 'i 62 '4 62 63', 62 'i .61 61 62 Dec. 59 59 59'4 59 OaU 34 34 334 33 34 32i 32 32 '4 32H 32V4 47! 464 46 4 6 48'4 49 48'i 48V4 48' Lard 5.15 5.15 5.15 5.12 5.40 6.40 1.35 8.34 6.18 CAPITAL $500,000 SURPLUS $6,000,000 KINGS COUNTY TRUST CO. 342 FULTON ST. (in the Heart of the Boro Hall District) Memher Federal Depoiil nturane Corp. A ROOKLVN SANK FO IBMOKIYN, PEOPLE "I.