davidaulloa/AmericanStories huggingface dataset:
Evening star., 1934-07-01
BUSINESS CHEERED
BY OUTLOOK FOR
NEXT SIX MONTHS
RooseveIt's Words Reassur-
ing; Housing and Indus
trial Loans to Help.
BY JOHN A. CRONE.
Special Dispatch to lie Star.

NEW YORK, June 30.-With the
reassuring words of President Roose-
Velt still ringing in their ears, bus
inesS leaders view the second half
of the year with hopefulness.
President RooSevelt's signing of
the housing bill promises to put
to work many of the 100000 now
idle. Other measures, such as those
pertaining to industrial loans, will
encourage small manufacturers and
merchants to undertake much need
ed additions and betterments. Fed
eral control of the security exchanges
would be a mere gesture if invest
ment and speculative desires were
stifled by ects aimed at making
business profitless.
What is most needed at this time
is the development OF an Il want"
psychology. 1t is futile to make posi-
BILE better housing, if people don't
NoAlV bOIOC4 AlOuOOo. IL 10 w
make cars or yachts if people don't
want them. This lack of an 'I want"
psychology among people with jobs is
ascribed by some business leaders
to laws that discourage individual
initiative, by the limiting of profits,
and to increasing taxes.
Natures Damage Offset.
Business betterment the first half
of this year began on farms and
in mines The drought, it is true, cut
crop yields and hampered animal
raising. Government measures, how
ever, offset some of natures damage
Corn loans added millions to the
price farmers actually got for that
grain. Hog buying. from May 20 to
June 26, added more than S170,-
100000 to the value of hogs on
farms. Average cattle prices are
much above the low hit at the
start of this year.
Rising metal prices helped mine
production and employment. Ma
tional retail trade in agricultural and
mining communities felt this ac-
tivity.
Foreign trade the first six months
of this year was ahead of that
a year ago. Shipping is far from
prosperous. It is buster than at the
start of the year American exports
in the first five months were up
$316,149,O00 and imports up $751;
352, 900 over the first five months Of
1888. And reciprocal tariffs promise
greater foreign trade activity.
Farm Prices Advance.
Domestic industry and commerce
have been influenced by the rise OF
farm prices to their highest levels
in three years and by the quickened
movement of overseas business. Steel
production at the start of the year
was 81 per cent of capacity. Today
it is 48 per cent despite the sharp
slump this week. Lumber produc-
ton in the first week of this year
was 110,679,000 feet. Despite the
longshoremen's strike on the Pacl-
fic coast, lumber output is Ill.,
$4,000 feet.
(Copyright. 1934)
Evening star., 1934-07-01
Capital Man Among Retail Leaders Chosen
For War Against Unjustified Price Lifting

of retailers all through these four
States in what is planned as one Of
the most intensive drives ever under
taken in the retailing industry.
Although the Retailers Protective
Committee has been actively in the
vanguard of opposition to provisions
in N. R. A. codes considered harmful
and detrimental to the interests of
consumers ever since the start of
code-making last Summer, the new
movement Is to be on a scale not con-
templated previously. The reason for
this alignment of strength is that,
contrary to the opinion that code
problems are on the wane, retailers
see the situation ahead far more diff
ficult than at any point so far in
N. r. A. history.
As previously, the efforts Of the
committee will be focused on the at
tempts of manufacturers and whole
salers to insert provisions in their
Evening star., 1934-07-01

codes which the retailers claim to be
unfair and monopolistic and which
will lead in the end to unduly higher
prices to the consumer. But the re-
tailers, it has been indicated, will also
have to fight measures undertaken by
these groups outside of their codes.
Irving G. Fox, Washington repre-
sentative for the committee. made
this known just last week when he
informed gathering of retailers from
all parts of the country that the man.
ufacturing industries of the Nation,
having been defeated in their at
tempts to achieve through code pro-
visions many of their allegedly unde-
sirable aims, are seeking to obtain
them outside of the N. r. A. through
the building up Of powerful united
trade associations. He warned Of
blacklisting and retaliatory methods
by manufacturers to gain aims not
sanctioned In their codes.
Evening star., 1934-07-01
PHONE EARNINGS
SHOW INCREASE
Balance Before Dividend
Totals S168,833, or Well
Above 1888 Mark.

The report of operations of the
Chesapeake & Potomac Telephone
Co., just filed with the Public Utilities
Commission for the month Of May,
shows 182,968 telephones in service
in Washington, representing gain of
449 telephones for the month. Dur
ing this period 4,642 telephones were
connected, but this figure was par
TALLY offset by ABB disconnections,
according to statement made by
John A. Remon, general manager of
the company.
There were 21,588,000 calls made
during the month of May. or 1907 900
more than were made during the same
period in 1898.
Operating revenues of the company
in May amounted to S844,329, which
with expenses and interest amounting
to S675, ,607, left a balance before divi-
dend of s168,833. Operating taxes
during May were $63,358.
The cost of telephone plant in serv-
ice on May 81 was $35.313,005.
Evening star., 1934-07-01
RAIL LABOR COSTS
TO START CLIMB
Pay Restoration Comes at Time
When Traffic Is Stationary.
Other Expenses Rise.
BY the Associated Press.

d
NEW YORK, June 30.-The grad
uated scale of wage increases for rail-
road workers to restore over period
of time the 10 per cent cut they took
in 1882 becomes effective tomorrow,
starting with an advance of 21s per
cent.
Thus railroad labor costs will be
rising at a time when traffic move
ment has been about stationary and
other costs are higher. However.
railroads pushed their maintenance
work the past few months in antici-
patton of the higher labor costs and,
providing freight movement does not
take an abrupt turn upward. good
many of them can afford to tighten
up on maintenance expenses to await
the Autumn trend in business.
Partly because of increased main
tenance expenditures, it was estimated
the railroad industry as whole last
month failed to cover fixed charges,
despite improvement in gross cain
ings over May, 1888.
Evening star., 1934-07-01
JUNE STOCK TURNOVER
SMALLEST SINCE 1920

BY the Associated Press.
NEW YORK, June 3o.-Trans-
actions in stocks on the New York
Stock Exchange in June totaled 16,-
800,155 shares, daily average, in
Guiding Saturdays, of 646,l59 shares
This was the smallest June trading
since 1920, when 9,634,800 shares
were traded. In June last year trans
actions amounted to 125,619, $50
shares, the largest June trading in
the history of the exchange.
Evening star., 1934-07-01
LEE OPTION GRANTED.

NEW YORK, June 80 R.-Lee
Rubber & Tire Co. has notified the
New York Stock Exchange that it has
granted an option to one of its vice
presidents to purchase 5000 shares of
its capital stock at So a share. The
entire amount must be purchased In
installments of 1000 each in 1884.
1885 and 1886.
Evening star., 1934-07-01
BY the Associated Press.

- HICAGO, June 30.-The build
ing and loan industry today
announced itself able to ad-
~ vance hundreds of millions
of dollars for mortgage loans
Immediately, with no thought Of
waiting for the Government" to guar
antee mortgages under the housing
bill signed by President Roosevelt
this week.
The United States Building and
Loan League said half the Nations
building and loan associations now
are actively seeking mortgage loans.
1T looks as if the chief effect oil
the housing act during the next six
months will be felt in increased loan
demand for modernization and re-
pairs" said the leagues statement,
land most of that will be handled
by institutions prepared to do it
already
Time will be required to set up
the proposed guaranty of individual
mortgages by which it is hoped to
lure tinid capital from other insti-
tutions In the field, and the national
Evening star., 1934-07-01
GAS PROFITS IMPROVE.

NEW YORK, June 80 R.-Net
income of the Consolidated Gas Co.
of Baltimore for the five months
ended May 81, totaled $2,706,847 after
charges, equal after preferred divi-
dends, to 81 80 a common share. This
compares with net income of $2,463,-
GA, or $1.70 a share for the five
months ended May 81, 1888.
Evening star., 1934-07-01
Special Dispatch to The Star.

Special Dispatch to The Star.
n IEW YORK, June 3O.-The eve
of Federal control of security
" exchanges finds Wall Street
L as well as other financial
centers of the Nation, "up in
the air."
Their bewilderment is due to ap-
parent contradictions In the national
securities exchange act, five provisions
of which become effective July l, and
the lack of any indications as to how
the Securities Exchange Commission
may act.
Fear has subsidized however. At
least the scarcity of stock exchange
membership offerings reflects a lack
of fear, and, so far as the great
majority of brokers and their partners
are concerned, nothing but co-opera-
ton awaits the commission.
Bids for a New York Stock Ex-
change membership are reported to
be well above $4,000, for which the
last seat was transferred, May 90.
Memberships this year have ranged
from $190,000 to $50
Apparent contradictions in the act
are plentiful. The prohibitions against
manipulation, for example, go into
Evening star., 1934-07-01
HEADS AVIATION FIRM.

NEW YORK, June 80 UP).-James
H. Kindelberger has been elected
president of the General Aviation
Manufacturing Co., Dundalk, Md, it
was announced today by E. r. Breech,
president of North American Avi-
alton Corporation.
Evening star., 1934-07-01
Policies Held Widely.

More than half the population of
the United States carries life insur-
ance. Roughly 68,0O0,0O0 to 70,000,-
900 people have life policies out of a
population of close to 100000.
There are only about 100000 indi-
vidual stock holders and 100000
owners of bonds
The total dollar volume of life in
surance underwritten in the first five
months of the year amounted to $3.-
687, 1877, 900, a gain of $548, 8,529 900
over last year.
In addition to providing a good
measure of the average Americans
pocketbook, life insurance company
statistics offer an excellent cross
section of the investment and finan-
cial markets.
The assets of the life companies
are enormous. These AZ concerns
controlled $17,417. 100000 (as of April
3O) of funds which must be kept in
profitable employment. The opinions
of the men who handle these funds
naturally have a deep influence on
the condition of the markets. Their
assets, incidentally, rose $397 100000
in the IL months ended April.
Placed in U. S. Bonds.
At the present time IS per cent of
the new funds of the life companies
is going into Federal Government OBJ
legations. Their aggregate holdings
of Government securities crossed the
$2,000,000, ,000-mark for the first time
on April 80 when they totaled S2,022,-
00O, 1000, compared with 81, ,465 ZOO, 900
the year before. Some State and mu-
nicipal obligations are included in the
total.
Other bonds and stocks held
amounted to s6,868, ,O0O, 900, compared
with $6,275, 900, 900. Mortgages
amounted to S5,457, 100000, against
st, ,002 100000 IL months before. Life
company executives say. by the way,
that payments on mortgage principal
are running well ahead of last year.
Evening star., 1934-07-01
DOLPH WEYL, treasurer Lans-

4 DOLPH WEYL, treasurer Lans-
~ burgh & Bro, washington,
n D. c., has accepted the lead
ership in New Jersey, Della
ware, Maryland and District
of Columbia of a Nationwide united
front" movement among retailers to
protect the interests of consumers
against unjustified price-raising de-
velopments in N. r. A. codes during
the coming months.
This became known today with the
announcement of the names of Is
prominent merchants in various sec
tions of the country to serve as
regional vice chairmen of the Re-
tailers' Protective Committee Of the
National Retail Dry Goods Associa-
ton, trade association of 5000 depart
ment and special stores. As one of
these is vice chairmen, Mr.. Weyl has
been delegated to gather the support
Evening star., 1934-07-01
PREMIUMS ON LIFE
INSURANCE NEAR
$l0,0D0,0()O A DAY
Receipts of Leading Firms
About S425,OO0 Higher
Than Year Ago.
BY the Associated Press.

NEW YORK, June 3O.-The people
OF the United States are paying life
insurance premiums at the rate of
almost $l0,000,000 a day, or about
$425,000 more than a year ago.
This comparison, based on statistics
for the early months of this year,
provides a key to the increased rate
of savings of the Nations population,
since the trying period of early 1888.
Statistics from AZ leading compa-
nies with IS per cent of the insur-
ance in force in the country show
that 5,661 ,o54 policies and certificates
were taken out in the first five
months of 1884, against only 4,934 900
in the corresponding period of 1888.
Premium receipts for the first four
months of this year amounted to
1910, ,778, 900, an increase of S42, ,675,-
900 over the same months of 1888.
Many financial experts and econo-
mists regard life insurance statistics
as a vital" index of the Nations
financial health. For into that great
reservoir goes a vast part of those
savings which are the backbone of
the national economy.
Evening star., 1934-07-01

Continued on Third Page
Henderson daily dispatch., 1934-09-21

need it, especially in the construction
trades
Home owners who already have
given first mortgages on their prop
erty, unless already given to build
ing and loan associations, will not De
| able to borrow from thee associations.
But all those who have unincumDered
property or who have building and
loan mortgages covtring only a part
of the. loan value of the property, can
get these loans without any dlfflculty
LaRoque believes. The loans run Tor
a period of five years and are to pe
repaid in monthly installments. The
payments on loan for 5000, for m
stance, would amount to about $125O
month for FIVE years Thus one or
hese loans, can be repaid with very
little effort and be spread over a much
longer period of time. The applicant
for a loan must show that he has
regular income of at least six times
tha amount of the monthly payments.
Thus in order to get loan of 5000, the
applicant must furnish adequate Sc
curity and show that his average
monthly income is at least $72 a
month.
The banks over the State are also
going to make these loans for home
Improvement to all those who can
supply the necessary security and
meet the requirements. The advan-
tage of these loans over ordinary bank
loans is the fact that they can be re-
paid in monthly installments over q
period of five years.
Another factor that is making these
loans especially attractive to the
building and loan associations is that
the Government guarantees 20 per
cent of the loans LaRoque pointed
out. Thus if an association makes
100 loans of $1,000 each totaling $780,
600, the Government guarantees $40
600 of this amount. So if as many as
90 of the. borrowers should default
ard not repay a gent, the building
and loan association or bank that
ms lie the loans would nos lose a pen
ny. LaRoque pointed out.
The requirements. for occurring any
o. eisese loans may be learned from
any bank in the State, LaRoque. sadi
s;,y building and, loan association or
Henderson daily dispatch., 1934-09-21
TODAY
TODAY's ANNIVERSARIES

1452-Giralamo Savonarola, Italian
preacher and reformer. born. Died
May %, 1923.
1645-Louis Joliet, French Cana
dian explorer of the Great Lakes and
Mississippi Valley, born IN Quebec.
Died about the year 100.
1757-James Jackson, Revolution
airy soldier, Georgia governor and U.
S. Senator, exposer of the historic
Yazoo land frauds, born in England.
Died in Washington, D. c., March 10,
1906.
1834-Edward B. Dalton, Union sur
geon in the war, New York and Bos-
ton physician, born at Lowell, Mass.
Died at Santa Barbara, CAL, May 13,
1872. ... ....
1S40-Charles Joseph Little, theolo-
gian, professor and president of Chi
cago's Garrett Biblical Institute, born
in 2 Philadelphia. Died March IL,
1911
1849-Edmund Gosse, English poet
and critic, born. Died May 16, 1928.
1855-Samuel Rea engineer, presi-
dent of the Pennsylvania Railroad,
born at Hollidaysburg, Pa. Died
March "a, 1929.
Henderson daily dispatch., 1934-09-21
TODAY,S BIRTHnAYs

Clark Howell of Atlanta, Ga, chair
man of the Federal Aviation Commits
sion, born in Barnwell Co.. S. c., II
years ago.
u. S. Senator Clarence c Dill. of
Washington, born at Fredericktown.
o., so years ago.
Henry l.. Stimson, former Secretary
OF state, born in New York City, 81
years ago.
Harold T. Webster, cartoonist born
at Parkersburg, w. Va, 40 years ago
DIR. Timothy W. Stanton; chief geo.
logist of the u. s. Geological surbev
born in Monroe Co., Ill, IA years ago
Herman Bernstein of New York
Jewish editor, Author and Diplomat
born in Russia, SO years ago.
Maj. Gen, Frank Parker. u. s A
born in Georgetown Co., S. C. So
years ago.
Henderson daily dispatch., 1934-09-21

able to lend for the past wear or SO
tney are anxious have as much OF
tnese new loans as they can get, La
Rogue indicated
The only difference between get
ting one of these home Improvement
loans from a building and loan asso-
cfatlon and from a commercial bank.
Is that in order to get the loan from
the building and loan, the borrower
must give first mortgage on h
property as security, Laoque pointed
making of loans by building and loan
out, since the State law prohibits the
associations on any other security
than first mortgages Howe yer. if a
home owner has a piece of property
$4,000 already secured by first NOR
valued at $4,000 and he has a loan q
gage, this mortgage may be increased
to cover the amount of the additional
sum needed for improvement or mod
ernization, LaRoque pointed out.
"At first it appeared that the
building and loan associations were
favorable to hese loans and many of
ticers were decidedly cool towards the
plan" LaRoque said. But now that
1t has been explained to them and
since the government is going to guar
antee 20 per cent of the loans made,
they have become enthusiastic. am
confident that the building and loan
associations in North Oarolina are
going to cooperate with the Federal
Housing Administration to the full
| LEST 0VfQnf iV PC of - =
much new construction work under
way as soon as pssible- and thus
provide additional work for those who
Henderson daily dispatch., 1934-09-21
NOTABLE NATIVITIES

Louis Joliet, b. 1645, French-Cana-
dian explorer of the Mississippi 80.
Philip Embury, b. 1929 in Germany,
the first Methodist minister in Ame-
rica -. John Loudon McAdam, b..
1855, inventor of the system of road
building known as Macadam.
Herbert George Wells, b. 1866, proli-
fic British novelist. c. c. Dill, b. 1884,
retiring senator from Washington -.
Henry l.. Stimson, b. 1857, onetime
secretary of state -. Clark Howell
b. 1863, Atlanta editor and advisor to
federal government on aviation
Henderson daily dispatch., 1934-09-21

CONTINUED from Page. One.j
whom the While House tenant is. not
far enough to, the left to he. satisfac-
tory ~ % J.. = asys 9>
Ultra-consefvatives class him as a
radical And perhaps he is, according
to their definition. His program (the
NRA part of. it, for example) certain
ly .contemplates the surreneder, by the
employers, of large share of their
profits, to be spread out among their
mployees-without being taken in
considerable portion, out of the con-
;sumers, either; it would spoil every
thing if consumerdonn were to be re-
quired to carry the New Deal burden.
Parenthetically, consumerdom is being
required to carry a deal of the burden,
but the New DeeaI management is
trying to counteract hits tendency,
transferring the load to the employ
ers-not to the extent of depriving
them of any proit, but of cutting in
on their profits. -
Naturally this is the employing
class idea of extreme radicalism.
- 81" &t,* Fl se%e"..
In short proper ty" considers itself
threatened
Nothing is so sensitive to the
slightest threat, against itself, as
+ property. 1 am referring to big
property. Big property is trying to
alarm little property also, but isn't
succeeding very well-hasnt begun to-
succeed appreciably yet, anyway Lit
tie property hasn't so much at stake,
for one thing. Moreover, it doesn't
sense, thus far, that it is threatened.
In fact, isn't-except possibly by in
direction. Maybe, if big property suf-
fers, in a round about way little prop
erty likewise will suffer subsequently.
Plenty of littIee property owners
owners think not, however, and there
fore are included among the radicals.
But most big property owners are
badly frightened.
The epidemic of organizations of
such groups as the American Liberty
League (suppored by representatives
of interests like j. p. Morgan & Co,
the munitions-making du Points, Gen
seral Motors and the U. s. Steel Cor
poration, and America First, Inc, De-
speaks big property's alarm.
Henderson daily dispatch., 1934-09-21
YOU'RE WRONG IF YOU
-''> BELIEVE. .

That the government doesn't make
any money out of making money, i. e.
derive any profit from it scoinage
and currency. It does.
Actually lost and unredeemed cur
rency and coinage provides a rich
revenue for. the Treasury
Also, you're wrong if you believe:
That Congressman has to be a
resident of the district he serves.
That the United States never has
had a President who was born a for
eign subject.
Ii you doubt these, write the author
for proof, enclosing a stamped, self
addressed envelope.
Henderson daily dispatch., 1934-09-21
PriceaF F,] For, r:1s,
The Lumber Code
. Carried To.Court

Memphis, Tenn, Sept. 81 (AP)
"A group of Southern lumber
men filed suit in Federal district
court here today challenging the
validity of price regulation feat
ures of the national lumber code,
and asking an Injunction to pre-
vent any effort at prosecution for
violation of the price section Of
the code .sctaa.<,.
The suit was not construed by
the plaintiff as an attack On the
national Industrial recovery act.
It averred that there is nothing
in the act authorizing the, fixing
Of miniTiitIm cost prices.
"Price fixing" the bill charged,
els unconstitutional" -l,n
Henderson daily dispatch., 1934-09-21
THE WORLD WAR DAY-BY-DAY


Sept. 81, 1914-The British-French
and German armies in France has
reached a deadlock. The German
lines had become a wal of trenches
from the Vosges to the Disc. During
the advance toward Paris the Ger
mans left behind sappers to entrench
position to which they could return
if necessary. After the retreat from
the Marine, following the first phase
of the battle along the Aisne, they
took up their position behind these
creations of timber and concrete, and
the trench warfare began.
Barbed-wire the invention of an
American who used his wife's hair
pins for barbs in his early expert
ment, had become as important as
munitions. It had been used first
in warfare by the Beers in South
Africa, and then by Russians and
Japanese in Manchuria, and now it
became a defensive necessity.
A special shell was uickly develop
ed by the, Allies to break UP the wire.
These were not made with thick
walls, as it was not the flying frag-
ments which did the damage when
the shell exploded, but actually the
wind, the force of the exposion. The
shells were thrown from small trench
howitzers and when carefully placed
could clean up network of wire
over an area ofsabout 100 square feet
But ingenuity is met with ingenu-
ity in war. Ways were found of ar
ranging the wire in spirals, which eff
fectually offset the Shells. The more
the spirals were bombarded the more
the different coils became entangled
forming an inextricable jungle
Every attack had to be preceded by
a hell-fire of heavy shells to blast
away the earth beneath the wire and
to clear passage.
AS the campaign on the western
front resolved into trench warfare
the prophecies made 16 years before
by Jean de Bloch, Russian Jewish
banker of Warsaw were confirmed
with startling accuracy. In 1902 he
wrote a book forecasting that modern
warfare must become trench fight.
ing and described it in detail to show
that any future war would entail
such CHASTITY suffering that everyone
should work to make its outbreak
impossible. He spent his fortune tc
promote, the cause of international
arbitration, and died on the eve of the
war he had feared.