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PLANS FOR NATIONAL DEFENSE Government and Fourteen Utilities Agree on Extensive Program Movement Will Be Big Aid to Industry Two Chicago Projects Approved by byFederal Federal Housing Administration A move to strengthen the National De ¬ fense which will incidentally help industry was made at Washington when the Roose ¬ velt administration and fourteen large utili ¬ ties agreed to a farreaching program Utility executives pledged themselves to place im ¬ mediate orders for equipment to add some 1330000 horse power to existing generating capacity They estimated that the first stage alone of the expansion program would mean an outlay of 2000000000 in the next two years This they said would double the recent annual rate of capital ex ¬ penditures by the industry industryThe The Federal Housing Administration in Washington placed its final approval on two more Chicago apartment projects Both will be on the south side and will represent a total reported investment of about 775000 Together they will have 150 apartments Work is scheduled to start within a few days on both with the hope of having them ready for May 1 occupancy nejtt year The yearThe Hershej Chocolate corporation and the Wright Aeronautical corporation report ¬ ed larger earnings Net profit of Hershey Continued on twentyseventh pagej PLANS FOR NATIONAL DEFENSE Continued from first page Chocolate in the September quarter was 1355980 equal to 161 a common share In the corresponding 1937 period net income was 810273 or 81 cents a share For the nine months ended September 30 the com ¬ pany reported net income of 3556440 or 371 a common share against 3208564 or 320 a share in the corresponding period last year yearProduction Production of automobiles and trucks In the United States and Canada this week was estimated by Wards Automotive Reports Inc at 73335 units a new peak for 1938 The total was 68360 in the preceding week and 90155 in the like 1937 week
