davidaulloa/AmericanStories huggingface dataset:
Evening star., 1934-07-31
Maryland Fund
Issue Is Offered
At $l5.33 a Share
Special Dispatch to The Star.


BALTIMORE, July 81. Initial
public offering of the shares Of cap
itaI stock of the Maryland Fund, Inc,
is being made by investment dealers
at an initial offering price of 1888
a share, according to an announce
ment by the underwriters.
The Maryland Fund, Inc, a Mary
land corporation, is intended. ac-
cording to the prospectus filed with
the Federal Trade Commission, to
afford "an investment program suit
able for institutional and endowment
funds and large investment ac-
counts" The authorized capital stock
is 100000 shares, of which 1,000,-
900 shares have been registered with
the Federal Trade Commission.
Ross Beason, president Administra-
tive and Research Corp. of New York,
is president of Maryland Fund, Inc.
The investment corporation was char
tered here last June and has its busi-
ness Office in Jersey City.
Evening star., 1934-07-31

Clearings for the first seven months
Of 1884 also present fine showing
compared with the same months Of
1888. q total OF S4Is, $50 .s2s.o1 against
s353. .454 .032I4 year ago. This is
gain of S66. zoe. .796 81, a highly favor
able increase In Cancelled checks
The figures show that business Is
not only well ahead Of the same
months in 1888. but Is at least ap-
preaching the figures Of 1882 al
though still considerably behind that
years clearings records.
July figures we're under the previous
month OF this year, when cleared
checks totaled $66. $50 .995 So. but bet
ter than June. 1898. when clesrings
amounted TO s56. .4s7 ,65T33.
Clearings reported by the Wash
ineton Clearing House Association
for the first seven months OF 1884
compare as follows with the cor
responding months in 1888:
Evening star., 1934-07-31
RETAIL FOOD PRICE
INDEX UP SLIGHTLY
By the Associated Press.

BY the AS8oclated Press.
An increase Of three-tenths of per
cent in retail food prices during the
two weeks ended July II was reported
today by the Labor Department.
Prices were per cent higher than
on July Is, 1888, and per cent
above the level of two years ago.
The departments index for the two
week period stood at 1899 per cent
of the 1918 level, compared with
1oe.s the previous two weeks.
The survey covers 81 of the coun-
try's largest cities.
Evening star., 1934-07-31
GOLD STATEMENT.

NEW YORK, July 81 LE1.-Yester-
days gold statement Of the New York
Federal Reserve Fank showed imports
Of S7o.S0o from Egypt. There were
no exports and no change in the
stocks held under earmark for foreign
account
Evening star., 1934-07-31
LEHN & FINK NET DOWN.

NEW YORK, July 81 OP.-Lehn &
Fink Products Co. report for the June
quarter net profit Of s97,l43 after
charges. equal to "a cents share on
the capital stock, compared with profit
Of s196,563. or 46 cents q share IN the
second quarter of 1888.
Evening star., 1934-07-31
METAL MARKET.

NEW YORK. July 81 QP.-Copper
quiet; electrolytic spot and future. blue
and future, SO 10, Iron 9uiet. unchanged.
Lead steady; spot New York. 3.75 East
sd. Louis. 3 go Zinc dull: East st. Louis
spot and future. 4.3o Antimony. apot.
Evening star., 1934-07-31

600 In bank
cleerings.
Bank ciearings
In July this year
totaled $50 .os2.-
5zs03 IN COM
parison with ssh
32s,ie96i IN the
like month of last
year, according to
the monthly re-
port made public
this noon by
Charles Y. Bright.
manager Of the
Was h in ct o n
Clearing House
Association
Evening star., 1934-07-31
MUTUAL SAVINGS BANK
DEP0SITORS SET PEAK
By the Associated rrnsn.

bF IItU AB3uCIatbu EINaN.
NEW YORK, July 31.-Depositors
In Mutual Savings Banks in the IS
States where they operate numbered
l3,686,947, peak figure for all time,
1t was stated by the National Associa-
ton Of Mutual Savings Banks. De-
posits rose by S12S, 1885, ,227 in the first
six months Of 1884 to $9,72o, ,S77, ,072
as Of June 80.
Evening star., 1934-07-31

saes Oh Ssoc.s on New York Exchange.
1loO AM..... 10000 lz:oO Noon.
PM. $4,000 1900 P.M..,..... s460 O00
Total sales Tor the day. $4,000
Dividend above eapls ara IN. ANNA,
declarations - ''@1"
tFlus gs stock Patio Iast REGULAR Psysbe
terreo stock Plus - % stock Paid this year Ixccn
ceivership Plus stock xTxndividsnd dpOrso N 70
Evening star., 1934-07-31
FEDERAL LAND BANKS
NEW YORK. July 81 lR.-FederaI L
Sank bonds:
Quotations as of o'clock
U. S. TREASURY POSITION,
BY the Associated Press

SJ Tie AhSOcIated FfeSS-
The Position Of the Treasury July rs
was. Receipts S5. .0s0 064 "a. expendi-
lures, S1l,056,I51 10: balance, S2.460. :
3l0.sg4.4l customs receipts for the
month, S17, ,o92, ,SS3. 90.
Receipts for the fiscal year (since July
- were S204. .S22, S06.3S; expenditures
$473. S61 069.24 ineluding 1856. l6l, :
993.65 of emergency expendtturesl; ex-
cess Of expenditures S269 03S. .263. SO;
gold assets. 81 925.412, 500 35-
tures. $40 54S. .294. .73; net balance, $685.
11o,569. SO, customs receipts for the
month. sci 36.446.71
Receipts for the aseal year. $3.50, T4R.-
including S4l.0Is.7S5.40. OF emergency
expenditures, Excess Of expenditures
sos. .365.4 .402.e7. gold assets, S3,l9O.s
Evening star., 1934-07-31
BANK CLEAR|NGS
FAR ABOVE 1883
Capital Gain OF More Than
IL Millions indicates
Trade Progress.
BY EDWARD C. STONE.

July business in the National Capt.
tal vas far ahead Of the same month
q year ago. according to Indications
based on gain Of more than s12 ,ooo,-
Evening star., 1934-07-31
NEW YORK BANK STOCKS

NEW YORK, July 81 H1.-New York
Security Dealers Association.
(Quotations as of 2 o'clock
nkS
Evening star., 1934-07-31
Trust COMPANIES
FREIGHT LoADINGS.

NEW YORK. July 81 lP.-Revenue
freight car loadings on railroads reporting
today for the week ending July %.
included
Evening star., 1934-07-31
NEW YORK BAR SILVER.

NEW YORK. July 81 Uz9.-Bar sil-
yer firmer. y higher at asa.
Evening star., 1934-07-31
INVESTMENT TRUSTS

NEW YORK. July 81 LH9.-New York
Security Dealers Association:
(Quotations as of 8: 30 o'clock
Evening star., 1934-07-31
ON THE NEW YORK~s STOCK EXCHANGE

Stock ara Eafes- EH
CIV Dsvfoen1 Rate Add 90 Hixh. toe. Close Chss.
Is Duucnt aa n an pfe i2Als 12kts I24ls
Evening star., 1934-07-31
PRODUCE EXCHANGE

NEW YORK, July 81 u1.-Produes
Exchange stock list:
Sales in
Evening star., 1934-01-11
Fair Enough.

The Star has more than once pro-
tested against the Bureau of the
Budgets inclusion of total District of
Columbia appropriations in the re-
capitulative tables of national expen-
ditures, thus leading to indignant edi-
torial comment in other cities demand
ing to know why the Federal Govern
ment contributes $4O,0oO,000, more or
less, to the City Of Washington, and
inferring that the residents of the
Capital do not pay any taxes.
This years budget summaries show
fairly enough that the District of Co.
lurnbia receives s5,7oo,ooo as the Fed
eral Governments contribution, and
the recapitulative table does not lump
local revenues with national revenues.
This change is welcomed as preventing
the many misunderstanding caused
nearly every year under the old sys-
tenn.
Evening star., 1934-01-11

France notified the United States that
French quotas for imports Of American
goods had been restored to the 1898 level
There is thus rescinded q horizontal
cut of some seventy-flve per cent which
the Paris government imposed upon
American imports on January l. The
move accords with the most-favored-
nation agreement reached by France
and the United States in negotiations
concluded in May, 1882, and normalizes
our trade relations with the French on
the basis of totals existing for the past
year and three-quarters.
In opening wider the trade gates OF
Europe for entry of American produce,
repeal of the prohibition amendment,
through /legalizing the importation OF
foreign liquor, is having at least one
immediate and tangible result. 1t has
been referred to in Washington official
quarters as a policy which springs from
good Yankee horse-trading traditions. v
If Secretary Hull and his coadjutors
can now evolve some method OF utilizing
the war debts due us as a means for
obtaining concessions for American
business, along the lines of these Sue
cesses in France and Great Britain, the
country will rejoice-and the Treasury
will substantially benefit.
Evening star., 1934-01-11
Trade Diplomacy.

Substantial triumphs for American
diplomacy, memorable in terms of trade,
are reported this week by the State De-
partment. On the heels of the recent
apples-for- wine barter arrangement
with France the United States has
driven a similar bargain with Great
Britain
The British will take ST 100000 worth
of American pork products, in addition
to the regular quota admitted to their
market, in return for the doubling OF
their liquor quota by GOT 900 gallons, ad-
missible in the United States. The new
Importation of American meat products
into the United Kingdom will repre-
sent 7.6 per cent as a minimum quota
allotment, which is the mean percent
age between the proportions of the
British market held by the American
industry during the years 1927-31 and
the year 1882. The increased quota is
worth a round million dollars more
than was originally proposed under a
6.3 per cent allotment. 1t is, moreover,
to be a permanent quota, while the
doubling of Britains liquor quota to
1,2140O0 gallons is temporary allot-
ment for the four month period ending
March 81. The State Department has
done a good piece of business with John
Bull. Uncle Sam can stand a lot OF
that kind of dollar diplomacy" In
times like these.
On the same day that the British
pork- for Liquor deal was announced
Evening star., 1934-01-11

theology to the demands Of the age
their congregations expected that Of
them.
Even the stage, the screen and radio
fell in line with the new tendency.
Plays have been presented which In the
days Of universal prosperity would have
been driven from the boards, and
speeches were made over the air which
ly discountenanced.
1t has been Mr.. RooSevelt's function,
as candidate and as President, to serve
as q spokesman for the millions who,
consciously or unconsciousiy, desired
the change which has been taking
place. And the end, Of course. is not
yet.
The difficulty. it would seem, will be
that of preserving the plus values Of
the depression when the ordeal itself
has passed. Surely, it will be agreed
that they should be saved. No one will
wish to contemplate return to the old
selfish attitude of personal salvation, a
reconstruction Of the old walls of divi-
sion.
Perhaps the dilemma may be illus
trated by story told by the late DR..
o. S. Davis, president of Chicago Theo-
logical Seminary, 1so9-1e29. "On a
certain OCCASION" he is reported to
have said, II sat next to the President
of the United States at a banquet. I
brought home a picture taken of the
assemblage that evening, and showed it
to my children, remarking: There was
a time when I didn't have shoes.
America is the only land where could
do that"
The anecdote Is apt. It happens that
the Nations chief with whom DR. Davis
had dined was MIR. Coolidge, and he,
too, had been poor boy-like Jackson,
Lincoln and many another eminent
American. The slump has reminded
the people of the essential, practical
democracy, which is the basic ideal Of
republican civilization. In the judg-
ment of the philosopher that is some
thing to be happy about, something to
protect and cherish when the economic
tide at last again is running in its ac-
customed channel of progressive pros
perity.
Evening star., 1934-01-11
Woodin Lauded for Wisdom,
Successor as Man of Action

Mr.. Woodin would have remained In
the cabinet II his health had per-
mitted," and that Mr.. Morgenthau has
shown capacity" The Akron Beacon
Journal states that the latter has
demonstrated his fitness" Tribute to
the new Secretarys ability is paid by
the New York Times, while the Abilene
Reporter says: "The job calls for q
human iceberg; Woodin Is highly emo
tional and sensitive. Young Henry
Morgenthau may not be a human ice
berg but he has shown steadiness
under fire that insures plenty Of what
it takes in the Treasury, which he now
heads as Secretary"
THE Woodin retirement is symbolic
of a great recession of Wall Street."
AYERS the Detroit Free Press, while the
Danbury News Times declares: "Woodin
and Mellon were individualists. They
we're trained in the system of every man
for himself. The new systems are max
ing toward the principle of one for all
and all for one. There is long way to
go. The march will be led by those
trained in that school,"
Evening star., 1934-01-11
A Tip to Clerks on
Getting Back Cut Pay
To the Editor Of The Star:

To the Editor Of The Star:
Indications are that next July the
Government clerks may possibly get
back one-third of the Is per cent In
pay that was taken away from them.
This piece Of news makes me think
of an Associated Press dispatch thst
read in The Star about a week ago.
1t seems that woman in Western
city was hurrying home from work
with her stipend for the week, amount
ing to $3.50. As she turned into a dark
and she heard the old, familiar COM
mand. Stick 'em up!" After turning
over her $3.50 to the stick-up gent
she argued eloquently and pathetically
about how badly she needed the money.
Like the Government clerks in q similar
situation, she was utterly powerless to
do anything about 1t except talk. Ac-
cording to the story, she really did talk
to some purpose though, because the
hold-up man got ashamed of himself
and magnanimously returned $l.20 to
her. She surely must have been q con-
vincing talker. =
The half-hearted promise to return
one-third Of the Is per cent to the
clerks may be retracted. To forestall
any such calamitous eventuality sug-
gest that the Government employees Sc
cure the name and address of this elo-
quent hold-up victim and hire her to
come down here to Washington and
do some talking in their behalf. II
they all chip in and are not in the
meantime held up for another cut they
can afford to pay her slightly more
than $3.50 per week.
Exhaustive and scientific investiga-
ton by budget experts may possibly
show that the cost of living has in
creased. II it doesn't show 1t, then a
powerful lot Of money and effort put
forth by the administration in the past
several months to increase living costs
has certainly been wasted. In the
event the experts find these efforts
have not been wasted and that living
costs have actually increased the clerks
may possibly have one-third of what
them. have a quick solution of that
problem, too Let all these Investigate
ing experts voluntarily cut their fat
salaries down to the size of the aver
age Government clerks. Then let them
take market baskets on their arms and
go a-visiting the chain food stores. Let
each Of them take along q bottle of
aromatic spirits of ammonia for per-
sonal use when he hears the prices
quoted him. guarantee that one day
Of this will get better results than q
year of the kind of investigating they
are doing.
I would like to add that am not a
Government clerk. am Just one Of
millions in this country who like to
see fair play. After all, what does O
new dear' mean If 1t doesn't mean
fair play? s. H. MUMFORD.
Evening star., 1934-01-11
THIS AND THAT
BY CHARLES E. TRACEWELL.

Sometimes It seems that the very
foods one Graves are all "acid-build-
ing"l Perhaps this Is not unlogtcal.
Like calls to like. the world around.
The man who Is fat wants more fat.
Therefore he Graves his cornbread,
potatoes, and the like.
The man who is thin wants thin
things, so he eats pickles, etc.
X X n
The aforementioned alkaline re-
serves" mostly are left to take care Of
themselves.
Now, it is supposed that the cream
in coffee does tremendously bad things
to these reserves Of alkalinity, but it
seems to us that it does even worse to
the digestion, as one might say.
Something there is about the COM
bination, as delightful as it tastes to
those who like 1t, which causes trouble.
Does any one think that such suf-
ferers give up their cream in coffee?
No, sir; they would rather give up coffee
altogether.
The plain difficulty in getting enough
cream in ones coffee in public places
Is well known. especially to the kindly
t1mld souls. 1t must never be forgotten
that such persons almost invariably are
kind, Is it not less strenuous, less
wearing, in such world as this, to be
kindly? Some one tell us.
At this point it may be said that
coffee with plenty of cream in it is
distinctly not what the French call
cafe al lait," or coffee with hot milk.
Cream Is cream, and not milk-a
sort of cream of milk. as it were
1t costs considerably more than milk,
as every one knows.
The patron who insists on more than
tiny amount of this precious fluid
in his cup is looked upon as one who
attempts to break the bank
The real trouble comes, however, in
public places. with the belief on the
part of the dispenser, whoever he NAV
be. that he is capable of judging Just
what customer means when he orders
flight coffee"
Surely no two persons ideas of this
are ever the same.
Each drinker has a different idea.
but for him 1t is always the same.
He knows, and nobody else does, no
one else can, for he makes his own
Judgment, based upon two factors, color
and resulting taste
The experienced consumer Of coffee
light" in public places comes to expect
1t pretty strong. This results, In the
cup. in certain shade of amber, dark,
| shining.
According to the strength OF this
shade, will he be forced to put in
cream to tone it down to the exact
creamy tan tone which his palate de-
I mands.
There is real art in this. and no one
else can settle the thing for him.
1t must look So-and-so, because only
when 1t looks so-and-so will it taste
! thus-and-thus
| The so-and-so comes before the
thus -and-thus. but only if it comes will
the thuS-and-thus be so-and-so! Figure
| that out If you can. You will have a
better chance, however. than the per-
son who attempts to dope out, in his
own mind, what another means when
he says he wants his coffee Tight, /"
| or good and light" or with more
| cream than you would think anybody
would want" The girl was smart. but
not accurate, when she whispered out
Of the corner Of her mouth. Give i'm
a cup o cream! That wasn't what
! he wanted at all. He wanted Tight
coffee" to degree Of lightness known
only to himself.
Evening star., 1934-01-11
Apportionment Law Unworkable.
The emergency type of Government

The emergency type OF Government
employment is again demonstrating the
impracticability of the so-caned ap-
portionment law When Government
agency wants a $l,440 stenographer,
and wants the stenographer right away,
the Civil Service Commission, accord
ing to the testimony Of James G.
Yaden, its chief examiner, necessarily
had to certify, or furnish the names OF,
persons who were living within the i'm
mediate vicinity of the District OF
Columbia. That is why the statistics
show a greater number of persons certi-
fed and employed from States in excess
than from the States in arrears OF their
share of appointments in the ap-
portioned service in the District OF
Columbia"
That is, Of course, easily under
standable Another element especially
responsible now for inability to abide
by the unworkable apportionment-of-
Offices rule is that a tremendous num-
Der of Government positions are being
filled by temporary" appointments. A
section of the economy act prevents
the filling of vacancies, except %
when the necessity of filling them Is
confirmed by approval in writing from
the President, or (2) when the positions
to be filled are temporary. emergency,
seasonal" in which case the Presidents
certifcation is not necessary.
There are few persons living In
States far distant from Washington
who are going to pick up bag ana
baggage and come here to accept
small Job which is understood as being
"temporary"-and judging from MI
Yaden's testimony before the House
subcommittee In charge of Civil Service
appropriations, vacancies are being
filled not by permanent, but by tenn
porary, employees.
Every citizen of the United States
who qualities by meeting civil service
tests is eligible Tor g. Government posi-
ton. Every effort has been made, as
shown, to abide by the apportionment-of-
Offices principle in selecting eligibles.
But emphasis should always be placed
on merit, not on residence, as qualln-
cation. The element of immediate
availability is largely determining the
selection of temporary employees now. as
it did during the World War, and those
so chosen, and who by meritorious abil-
ity win for themselves the right to work
for the Federal Government, Should not
at some later date find themselves fac
ing penalties because they happen to
have been born in or claimed residence
from some State that, on statistical
basis, has exceeded its quota" of en-
ploye representation in the public
service.
Evening star., 1934-01-11
E SOIR, Brussels.-A most i'm
rraeciva cpenton n1a uroc uitpessad

when nearly TOO of the worst
malefactors In France were marched
away under heavy guard from the con-
centration post to cruiser waiting at
the quay.
Clad in their drab cotton uniforms
of convict gray and each with small
bundle of extra clothing and such small
mementoeS of happier Gays as survived
the hectic ardor of their later careers,
the men moved slowly through the de-
serted street on the first stage OF their
voyage to the lie du Diable, whence
there is no escape and little hope even
of ultimate release, for only the most
refractory and incorrigible felons are
sent to Guiana Then men are shack
eled and chained in pairs until the
deck of the vessel is reached, and then,
these impediments removed, they are
placed behind bars of steel in the hold
of the vessel. Such an exodus takes
place generally but twice or thrice a
year.
In addition to the members OF the
crew and the personnel of the guard,
never lacking in strength and sum,
cheney, two surgeons, six hospltal
nurses and a chaplain for such OF the
condemned as still profess either the
Catholic or Protestant religion: From
the deck. before their descent into the
depths of the ship, the men behold
MANY of them for the last time, the
shores Of the native land from which
their grave misdeeds have definitely
estranged them.
Evening star., 1934-01-11
Practical Democracy.

Perhaps when the history of the great
depression is written one of its con-
structive effects will be chronicled as
having been its influence as liberaliz-
ing force Even now it is possible to
see the democratizing power which it
exerts. Charles M. Schwab put the
thought in a single phrase when he de-
clared: 1--WE are all in the same boat"
He meant, presumably, that the arti-
fetal barriers between the rich and the
poor have been broken down. The
well-to-do have suffered in common
with their theoretically less fortunate
neighbors. and class distinctions built
up over long period of years have
been demolished. An elemental kinship
has been re-established.
Political Affiliations, the campaign
and election of 1882 demonstrated, have
been disturbed; thousands of Republic
cans momentarily became Democrats,
expressing q preference for the "radi-
calism" of Mr.. Roosevelt as opposed
to the conservatism" of Mr.. Hoover.
The change reflected an alteration in
the policy Of the press. People voted
as they read. The slump had brought
into vogue a new philosophy of opinion,
new method of expression, new
idealism and a new jargon. Things
were printed, things were said, that a
decade earlier would have been rejected
as 'unwise" if not "unsound." ...
The church, too, underwent similar
metamorphosis Even the most rigidly
unyielding ministers of the Word began
to interpret the social significance OF
the Gospels. Sermons were preached,
which in a different era would have
brought about the expulsion Of their
sponsors from the pulpit. Quarrels
about doctrine subsided; the clergy
concentrated on an adjustment Of their