davidaulloa/AmericanStories huggingface dataset:
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
EXPECT ROOSEVELT
TO ADVOCATE HUGE
FUND FOR JOBLESS

Washington. March 2o.-R-Presi-
dent Roosevelt Is expected by his close
advisors to send . message to con-
gress within the next few days rec.
ommending an emergency uy,empjoy.
ment relief fund Of 1600. 100000 for
direct grants to the states.
The president also probably viii
include In his immediate emergency
program q $40,O00,0o0 appropriation
out Of unexpepded funds In the
treasury to begin his gigantic refor.
estation program.
These proposals. which the presi-
dent regards Of immediate urgency.
will be submitted to congress In .
special message probably as soon %
the house passes farm relief legiSla-
ton, expected by Wednesday.
A more permanent and far-reach-
ing program Of relief for tho jobless
will be submitted later, probably
based upon legislation introduced
Monday by Senator Wagner (Dem.,
N. " for liberalixing construction
loans through the Reconstruction
Corporation.
The 100000, 900 proposal for direct
relief was submitted to the president
by the committee which has been
studying the proposal for him, COM
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
indian SCHOOL cow
MAKES GOOD RECORD
Purebred hoIstein Produ G -
1896 Pounds OF Butter.
fat in February

An exceptional individual butterfat
record was made during February by
Ormsby Pietertje Caribou, 1l2l0o0,
purebred Holstein owned by the Bis
marck Indian school. It was announc-
ed Saturday by e. ]. Haslerud, dairy
specialist at the state agricultural
college.
This cow produced 1886 pounds Of
butterfat and ASA pounds Of milk in
the % days. The butterfat test Of the
milk was ~ per cent.
The New Salem Hanover dairy
herd Improvement association led all
North Dakota associations in Febru-
airy with an average butterfat pro-
duction Of 80 pounds per COW. Has
lerud said.
The average milk production for
the group was 825 pounds.
The average butterfat production
for all cows in the six herd improve
ment associations in the state was 20
pounds per cow. Second place In the
association ranking went to the Cass
county group, with an average Of 26.5
pounds. Next was the Bismarck
Mandan organization with 263
pounds, followed by the RichlAnd- La
Moure dairymen, with . 26.pound
average.
The highest averaging herd was that
owned by Paul Rusch, youngstown, of
the New Salem Hanover association.
Fourteen grade Holstein cows in this
herd averaged 42.3 pounds Of butter
fat and 1908 pounds Of milk. Sec
ond in herd standing was the Indian
School ct Fort Totten. The average
Of this herd Of Is cows. of which six
were dry, was 81 pounds Of butterfat.
Kapaun and Laufenberg. Alice, aver
aged 80 pounds Of butterfat with q
herd Of - Holsteins, two Of which
are dry.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
Bortell Family
Unhurt by Quake

Despite the fact they live in
the heart Of Long Beach, the
John Borteu family, former resi-
dents Of Bismarck, escaped with
out serious injury in the recent
earthquake, according to q letter
received by Mrs. Alfred Zuger, sol
Thayer avenue west.
Mrs. Bortell was the only
member Of the family hurt, re-
ceiving q minor rib injury when
she fell over the back Of chair,
Joseph Bortell, one Of her two
sons. wrote to Mrs. Zuger.
He said their house was moved
off It's foundation about three
inches.
julius Bortell, the other son,
had just come out Of q library
when the first tremor occurred
and he grabbed a wire fence to
keep from falling down. Mr.. Bor-
tell was on trip to Los Angeles
at the time and was out Of the
danger area.
Joseph said he and a friend
were near q hospital during the
quake and saw two persons
crushed to death by falling brick.
While here the Bortells lived
at 522 Thayer avenue west, in the
house now occupied by the Louis
Rubin family.
IT, A. vYr--A l.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
JUNIOR HIGH Will
PRESENT OPERE1'TA
Eighty-Fivs Students Will Par.
ticip pate in Musical Produc.
ton Here March %

Eighty-five students 1t VIII junior
high school will present an operetta,
paints and Patches" Thursday AFT
ernoon and evening at the city audi
torium.
The orchestra for the presentation
will include high school and junior
high school students and It viii b
the first time an orchestra has been
used for a Junior high operetta.
Besides the principal characters In
the cast there will be 10 dancers, 10
policemen and 20 members Of an art
lists chorus.
Teachers in charge OF the produc-
ton are Miss Louise johnson, dra-
mates: the Misses Mildred Fried and
Adeline Ness, dancing: the Misses
Mabel Olson and Charlotte Schmidt
properties and costumes: and Clarion
Z. Larson, music.
The matinee will begin at 3:4l
O'Clock and the evening performance
at 7:30 o'clock.
Tickets are on sale at the various
schools in the city. In charge OF the
ticket sale, as well rs the publicity
Is Miss Gertrude Evarts. also . mem.
Der Of the junior high school fac
ulty.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
HOLD FUNERAL FOR
ACEDDOCAL WOMAN
Body Of Mrs. Clara Jane John.
son, 81 Years Old, TAX
On to lanSford

Funeral services for Mrs. Clara
Jane johnson. o7.year.old Bismarck
woman who died Saturday afternoon.
were conducted from PerTy's Funeral
Home Sunday afternoon.
Rev. Floyd Z. Logee, pastor Of the
Presbyterian church, officiated and
the body was taken to Lansford, Mrs.
Johnson's former home, for funeral
ana burial services Monday after.
noon.
Mrs. johnson was the mother Of
Mrs. Mary Ryan, $50 Main avenue
west.
At the services here Mrs. Frank J.
Bavendick sang Asleep In Jesus" and
God BE With You TIL We Meet
Again." She was accompanied BY
Mrs. Grace Duryee Morris.
Accompanying the body to Lans-
ford were Mr.. and Mrs. Arthur H.
spangler, Mandan, Charles Liessman
Joseph McCluSkey, Mrs. George H
Dohn, Ill Of Bismarck, ana Mrs.
Ryan.
Mrs. johnson was born May l, 1886,
at Telemarken. Norway, and came ia
the United States on . sailing boat
when she was Is years Of age.
She was married to Henry s. John
son In 1855 1T Lacrosse, Wis. They
were pioneers in Wisconsin, Indiana
Minnesota and North Dakota, home
stealing near Lansford In 1900, where
they lived until 1916, when Mr.. John
son died. Since that time Mrs. John
son had lived With her daughter
here.
Mrs. johnson leaves her daughte,
and one son, Walter johnson. Spok.
ane, WASH. and four grandchildren.
Despite her age, Mrs. Johnson had
youthful interest In modern devel.
opments and had hoped to take ar
airplane flight on several different
occasions. Much Of her time In thu
summer was spent at work in hel
flower garden.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
Bismarck, Washburn
Will Debate Tuesday

An admission charge Of 10 cents
win be made Tor the Bismarck
Washburn debate Tuesday evening at
the local high school auditorium, It
was announced Monday By school Of
ficials.
Proceeds viii b used 70 finance q
trip Of the local team to Washburn In
the near future for q return engage.
ynent.
The debate, In which Bismarck's
second team viii participate, will be-
gin at 8 o'clock. The Capital Gle
team. including Beth Wheeler, Freda
6chlickenmayer and Gladys Carlander,
viii uphold the negative Of the ques-
ton: Resolved that at least one-half
Of the state and local taxes should be
derived from sources other than
tangible property"
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
College Quartet Is
Well Received Here

Thu Criterion quartet Of Valley City
entertained . large crowd at Trinity
Lutheran church here Sunday night,
singing negro spirituals With the In
tsspretive nuances individual to that
type q mWsic.
Members Of the quartet are Doris
Hoyor, oeprano; Ines Corby. central
to: John Julian, tenor: and Aylo O..
stad. bass. The quartet was directed
BY lflas Uyera Cedargreen, while Miss
Marllyn NilEkelson Was accompanist.
20 Down, Moses" Swing Low"
and "0oon Tn Coin Home" the negro
spirituAls. were exceptionally well
dene BY the group.
Among other numbers which cap.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

will not catch the planes here that
day, he said.
Billines Il enthusiastic about the
extension Of the air service from Bis
mArck to the Montana city early this
month, LaFontise said. As tribute
to Northwest Anyways, Billings is
staging . popularity contest for young
women, the winner to receive Z free
cir trip to the Twin Cities.
Among planes ut the local airport
Sunday was q new 9tinson Junior
four. passenger ship. It was puoted
by r. 8. Lamont, employee Of the STAN
dard OH company, who was on his
way to Minot.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

, - fed prolonged applause were "eheep
and Lambs" and "Were You There"
BY Miss 0orby. How Beautiful Upon
the Mountains" by Miss Hoyer and
Mr.. Olstad. and For God So Loved
the World" the quartet's closing num-
Der. Mr.. Julians two solos also were
well received.
Tho program included works Of
Mendelssohn, Rachmaninoff, Mon
TAM. Tchaikowsky, MacDermid, HON.
er, Handel, J. Stainer and others.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
MUSICIANS OF CITY
APPEAR IN CONCERT
Sunday Afternoon Musicale A
City Auditorium Draws
Favorable Comment

A large Bismarck audience was de-
lighted Sunday afternoon with the
unusual concert presented at the city
auditorium by students and faculty
members Of the Menus Conservatory
Of Music.
This recital. the fourth In 4 series
Of free Sunday afternoon concerts
sponsored by the Association Of Com
msrce, gave q new inspiration and
impetus to the study Of music In the
city. Throughout 1t was q well-bal-
anced program Of wide appeal.
Members Of the youngest federated
music club in Bismarck, the Tiny
Tots Music club. presented the first
part Of the program. These six young
pianists. Bobby Ritterbush, Donald
Robinson. Milton Quamme. Phyllis
Wahl, Marjorie Lou Robinson and
Beverly JaAe Hall, played their num-
bers with marked tone quality, tech
meal assurance. freedom and spon-
tantety.
They were followed by II young
violinists. who made . striking i'm
precision with the intonation, bowling
and poise demonstrated In their en-
semble work. violinists were Doro-
thy Gray, Betty Ohm. Helen Gala
cher, Roger Jensen, Cletus Schmidt,
Shirley schantx, Marilyn Madsen,
Lorraine Hauch, Mary Jane Nelson,
Ferris Cordner, Jr., and John HE'S
ing.
The performance Of the Kitchen
symphony" In costume. with instru-
ments ranging from glasses to tin COW
ers, beneath its frivilous exterior,
showed . splendid study ia rhythm.
Members Of the percussion orchestra
were Doris Jones, Donald Robinson,
Bobby RitterbuSh. Marjorie Lou Rob-
inson. Beverly Jane Hall, Betty Hall,
Phyllis Wahl. Marilyu Madsen, Bev-
erly Guinness, Betty Wilde, Shirley
echantx. Marjorie Mote, Jean Ploma-
sen, Helen Louise Furness, Lorraine
Hauch. Dorothy Gray, Betty Ohm,
Helen Gallagher. Roger Jensen. Ole.
tus Schmidt. Milton Quamme, Jack
Pfeffer, Marjorie Jones. Mary Logan
and Viola Leuck.
The second part Of the program
consisted Of . brilliant violin solo,
"Nasurka." by Mlynarski, played by
Jacob Steiner Of Mandan, and piano
solos by two talented thirteen-year-
old pupils, Robert Killing and Jane
Watson Of Mandan. They demon
strated the development Of the indi-
viduality In style Of the students.
"A string trio, composed Of Ralph
Truman, violinist. Florence Fritch
pianist. and Byron Betterly, cellist.
played two groups Of solos, including
two fine Spanish numbers. The re-
freslaiug and stimulating music Of this
trio In compositions Of the romantic
type effectively colored the program.
Miss Belle Menus played the stir.
ring Sixth Hungarian Rhapsodie BY
List. Parents and friends were
pleased to hear Miss Menus again
In her fine rendition Of this number
after having devoted her time TIKI
last few years to promoting her con-
servstoey.
Very interesting MS the final mum.
her, 'slipula Was NY prlneess," "a
original composition By Florence
Yfitch. who WAS assisted By the string
trio and . quartette from the Thurs.
day Musical club.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

posed Of llioo Frances NortIins, &C..
Rotary Of labor: and Senators Wa
ner Oem., n. -, Oostigan Oem..
Colo.) and n Toilette Ueps WA.
II provides foe administration q
the fund under . relief dlrector re-
sponsible sooely to the pesGident him
self. The money would b advanced
from the Reconstzuction Oogpoeation.:
under addltic0Al bogToWtne power
conferred upon Il b. the bin.
The legislation win marx The 1od-
eral sovefnment's first move IN The
field Of direct relief. 4 = drafted
along the lines % the old Il rollstts-
Costigan bill which the senate re-
jeoted IN the last session for ~
Wagner loan measure.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
You win Be
More attractive

New. wondorful AElk0-oL0 DOW.
der makes your akin look ftesh.
tempting. Nade BY = nav French
process, It spreads with surpfising
Smoothnesg, stays on longer, hides
tiny lines and wrinkles. prevents
large pores. Ugly shine bauished. No
drawn Or ''pAsty" look. No irritation
with pursst face powder known. Duy
delightfully."- fragrant MILxO-OIo
today. soc and 3l!00. TAX Sree.-Ad-
yerttsement.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
Find Fort Rice Man
Died Natural Death

Stanley Dwight, for 20 years q res
ident Of the village Of Fort Rice
whose body was found at his home
Sunday, died from natural causes, J.
J. Kennedy, Morton county coroner
announced Monday following an in
vesttgation. Dwight had been SUBJ
ject to fainting spells. He leaves q
sister, Mrs. NJ. s. Foster Of Fort Rice.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
New Deadline for Air
Packages 1920 p. M,

Announcement that the deadline
for mailing air-mail parcels here has
been changed from 1880 p. m. to II 40
p. N. was made Monday by +. r. La
Fontise. local traffic manager for
Northwest Always, Inc.
This deadline prevails for west.
bound - well g east-bound parcels,
he said.
Packages not mailed by 1920 .. m.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
YETERAN ACTOR DIES

Orange. N. j., March 20.-(P)-Jef-
ferson De Angels, actor since his
childhood days and one Of the stars
Of the 10th century American light
opera stage. died Monday.
De Angels suffered from paralysis
more than . year.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
Meetings Of Clubs,
Fraternal Groups

Members Of the Rebelah Busy lee
Sewing club viii meet ct 2:9o o'clock
Tuesday afternoon ut the home Of
Mrs. Fred Ohde. e1l Sixth 81.
= = !
The Women's Home Missionary
society Of NcCabe Methodist Epis-
copal church viii meet ct 2:3o O'Clock
Tuesday afternoon at the home q
Mrs. George N. Register. 1ol7 Fifth
ct.
Members Of the local chapter Of the
Order Of the Eastern Star win hold
their regular meeting ct 7:3o o'clock
Tuesday evening In The Masonic
temple. Alrs. =. A. lAhr Win speak
on "eymbolism." At the next meet
Ing. April I. the chepter win enter
tain members q Queen Esther chap
ter. Nandau.
= = =
The Girls club Of the TRINITY La.
theran church VIII hold . pot luck
Slpper q 8 o'clock Tuesday evening
IN the church paylGgs.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20
City, ounty News

NJ. and 1lls. 0aSi epit1er. Dald.
win. are parents Of . bog horn oat.
urday ct tho 0iamayck holpital.
= y y
A Girl was born at thu DismaEclI
hospital Monday morning 70 NJ. and
Mn. Dan Huber Of 0eplAh.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mr.. and Mrs. Grover 9. Riggs, ~
Avenue Z. had q their guests over
the weekend Misses Arlene Riggs and
Marion Saathoff Of jamestown who
came here for the state Basketball
tournament.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mr.. and Mrs. q. ehearer. wash.
burn. left for their home Sunday A.
ter = several days visit with their
son.in-law and daughter. Mr.. and
Mira. Walter Bischof, go West Rosser
avenue.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mr.. and Mrs. +. +. Skinner, 90
Thayer avenue, were hosts 1t . poi
luck bridge dinner Saturday evening
Green candles lighted the tablel
where places were laid for II guests
Mrs. II. A. McNutt and Mr.. Skinner
held honors In tho bridge games.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Miss Mary Ellen Crawford, New
Rockford, u visiting for q few days
ut the home Of Mr.. ana Mrs. Frayne
Baker, sos West Thayer avenue. She
came here 70 attend the state basket
ball tournament.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mrs. J. B. Taylor. Wilton. Is in Bis
marck tor . visit with her SISTERS the
Muses. Irma and Charlotte Logan.
100 Second st.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Bob Inman. Dickinson, visited here
Sunday with his sister. Miss Vera In
man. 400 Seventh st. He was en- route
to st. Louis, Mo-. where he has been
promised Q try-out with the st. Louis
Cardinals. He plans to remain In the
south for the baseball training sea-
son.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mrs. G. g. Wattam and dauehteg
Evelyn, Fargo. lett Sunday for their
home after Z weekend visit ct the
home Of Mrs. Wattam's sister, Mrs,
r. 3. Towne, 722 Seventh ct.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mr.. and Mrs. A. G. Booth, $40 Grit
fin st., had Is their guests over the
weekend their son. Edward Booth, q
student at the North Dakota Agri-
cultural college, and also Frank Carl
son. Fargo. and Mr.. and Mrs. Fred
1eierle. New Rockford.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mrs. NJ. z. Plath. 1918 Fourth st..
entertained . group Of children 1t .
party Sunday evening for her son,
Wallace. who was 10 years old. A
birthday cake In yellow and pink GEN.
tered the table and novel place cards
and favors marked the places. Games
were played after dinner.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mr.. and Mrs. Paul Henry. o02h
Avenue D, entertained guests for
three tables Of bridge at their home
Saturday evening. Score prizes were
awarded to Mr.. and Mrs. william
Harris. Mr.. and Mrs. Otto Holta and
Mr.. and Mrs. +. s. Minser. Green car.
nations and appointments to harmon.
i1e were used for the tables.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Jean Kraft, daughter Of Mr.. and
Mrs. w. T. Kraft 60s West Thayer
avnue, had q her guest during the
state basketball tournament. Helen
Rorvig Of Fargo.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-20

Mrs. Z. Z. Tsmpleton and daughter
Yvonne, Almont, N. D., who have
been Waiting ct the. home q Mrs.
Templeton's daughter. Mrs. Stanley
Lucas. 500 Avenue A, since Friday,
viii leave Tuesday for their home.
The Washington times., 1933-03-23
BONDS STRONG
WITH ACTIVE
DEMAND
BY MONROE ROBERTS

NEW YORK, March % GN.SO
The bond market displayed a
strong tone through the forepart
Of today's session, with active de-
mand for rail and domestic cor
poration liens generally carrying
prices from fractions to more than
a point higher.
Led by N. Y. Central
New York Central IS led the up
turn of the speculative carrier is
sues with a gain of 112 points to
46. Erie SIS of rs advanced IA
to 251a; Southern Railway 61aS
gained l to Is; while the various
issues of such roads as the Balti-
more and Ohio, Missouri Pacific,
Southern Pacific, and Illinois Gen.
tral were also prominent at i'm
proved levels.
United States Governments ex-
tended yesterdays gains, with
Treasury As up 5-32 at 104.26;
Treasury 3bs up 5-32 to 1924;
Treasury 4As up 4-32 at 1924;
Liberty 1st 414s UP 4-32 at 101.18,
and Liberty 4th 4As up 2-32 at
lola.
Foreign Liens Firm
Foreign governments were firm,
with German 5Rs up u at 51B,
and German rs up u at 73A.
B. M. T. IS were active and "a
higher at 90A in the traction
group.
The Washington times., 1933-03-23
BY LEWIS HANEY

Professor Of Economics, n. Y. University
Our money today is largely
credit money, such as bank notes,
and, with the aid Of banks. a
large part of business is conducted
by means of Checks" which are
purely credit. We should, there
fore, understand the nature of
credit and banking.
A credit is essentially a trans
fer of goods or services now in
exchange for a promise to pay in
the future, usually in money.
Trust and Time
Thus, credit involves Cd trust,
or confidence in the will and
ability of a borrower to pay, and
(2) time-repayment in the fu-
ture of a loan made in the pres
ent.
So large a part of business rests
on credit that we can almost say
that we have passed from a
money economy to a "credit
economy" Credit, in the shape
of checks. largely replaces money,
and much of our money itself is
largely backed by Government
credit, the banks lending to the
Government (buying Government
bonds) and then issuing notes"
secured by Government bonds.
Money Credit Tool
In sense, money has become
a tool of credit. Credit enables
business enterprises to get posses
The Washington times., 1933-03-23
N'LPHONE
LOSS HEAVY

A consolidated net loss Of $3,-
981,17 is shown by the Interna-
tional Telephone and Telegraph
Corp. in it's report for 1882. This
was after all charges, but before
$2,157, ,665 losses on conversion of
foreign subsidiaries earnings into
U. S. dollars, charged against
surplus.
In 1881, company reported a
net income of $7,654,001, equal to
$1.20 a share on 6,400,206 COM
mon shares outstanding. Ex-
change losses in that year
amounted to $2,505,584, which
were also charged to surplus.
Postal Telegraph and Gable
Corp, a subsidiary, reported a
loss of $2,353,98 for 1882, COM
pared with a loss of $1,764,032 in
1881.
The Washington times., 1933-03-23
GENERAL FOODS
EARNS S1.97

General Foods Corporation and
subsidiaries, report net earnings
of $10,343,8 1872 for 1882. or $1.97
share on the 5,251,501 shares
of no par value common stock
outstanding at the close Of the
year. For 1881 the company re-
ported net earnings of $18,153,'
TIC, or $3.44 a share on 5,275,677
shares then outstanding.
Though the final quarter suf-
fered to an unusual degree, i'm
provement occurred during De-
cember, continuing through the
first two months and into March,
said c. M. Chester. president,
commenting on. business.
The report announced the pur-
chase by General Foods of all
the capital stock of Sanka Coffee
Corporation. Since March, 1928,
Generol Foods has been hand
ling the production and sales Of
Sanka under a contract with the
European originators.
In December, 1881, General
Foods purchased all Of Frosted
Foods common stock owned by
Goldman Sachs Trading Corpor-
alton, and now owns all the
common stock in Frosted Foods,
representing the equivalent of
10000 shares Of General Foods
common stock, or 3.4 per cent
of a total of 5,251,5O1 shares Of
General Foods common stock
outstanding, December 81, 1892.
The Washington times., 1933-03-23
Use and Limits of Credit
Explained by Haney

sion of money and capital.
Through extensions Of credit,
lenders direct the use Of capital.
We can almost say that business
is as much a matter of borrowing
and lending as of buying and
selling.
It is thus easy to see why "con-
fidence" is nowadays so much
emphasized. Also, we see why
the money market" plays so
prominent a part, for in reality
the money market" is a credit
market, and reflects the factors
of trust" and time" which credit
always involves.
Misuse Dangerous
Like all useful and delicate in.
StrumentS, credit is dangerous
when abused. We abuse credit
when we treat it as if it were an
addition to capital. Credit is not
capital, but merely q transfer of
the use Of capital. Credit involves
debts.
We cannot add such credit in.
struments to the real capital of
the nation to get a total, for that
would mean a duplication. So the
real value Of credit depends upon
how it is used in directing the
employment of capital. If through
over-optimism, credit be unwisely
extended, either in the use to
which capital is put now or in the
extent to which an over-distart
future is discounted, q frozen
condition results.