davidaulloa/AmericanStories huggingface dataset:
Evening star., 1936-12-31

its stature, although that is vitality
important, but rather the increased
interest in which all classes Of our
people have taken in the whole sub
ject. As never before insurance is
becoming an important part in the
lives Of all Americans. Mr.. Montgom-
cry continued:
Social Security Lauded.
IT have been asked whether I think
the Federal Governments social Sc
curity program will hurt the business
Of the life insurance companies. It
Is my belief that this program, in
stead of hurting the business of the
companies, will help it immeasurably.
"Just as the Liberty Loan sales
during the World War awakened mil
lions of our people to new under
standing of the value Of thrift and
investment saving, so I believe the
social security program will emphasize
the unique role of life insurance, give
it new meaning and new strength, and
stimulate it to new peaks Of con-
structive activity.
1T is q source Of real pride that
the Acacia Mutual Life Insurance Co.
was to the very forefront in progress
throughout the past year. Acacia
concludes 1886 with insurance in
force, assets, net income, disburse-
ments to living policyholders and ben
eficiaries all at the highest level in
the history of the company. A fur
ther indication of generally improved
conditions is to be found in the fact
that policy loans now have reached
the normal, pre-depression level.
New Home 1886 High Light.
"A high light Of Acacia's year was
the dedication of the spacious new
home Office building at 81 Louisiana
avenue. Erection and dedication Of
this fine building in 1886 symbolizes
for us the new era Of growth and
development which. we feel certain,
our country has definitely entered.
"On the basis Of the things which
Life insurance as q whole has accom-
plished during 1886, we are looking
forward with confidence to that which
1887 viii bring forth.
I'VE view the new year with an
optimism soundly based upon an i'm
pregnable financial structure"
Evening star., 1936-12-31

with scarcity Of the available supply Of
high-grade investments, has resulted
in further sharp advances during the
year 1886 in most ofthe securities
listed on the Washington Exchange,
President Booker continued. This
condition Is not peculiar to Washing
ton. but Is also true Of investment Sc
curities on all exchanges throughout
the country.
The relatively small volume Of busi-
ness on the Washington Stock Ex-
change this year has been due to q
scarcity Of supply rather than to any
lack Of demand. This Is evidenced by
the fact that virtually all the highest
grade bonds and preferred stocks have
for several months been selling well
above their call prices, Booker ex-
planned.
The great increase in the volume
Of business among the merchants,
marked improvement in real estate and
unusual activity in building, all have
perity Of the banks. Deposits have
been steadily increasing, and despite
the prevailing low interest rates, most
of the local institutions will show
earnings for 1886 well ahead Of 1885.
The public utility companies are en-
joying the largest volume Of business
in their history, and the present out
look Is that there will be no diminution
during the year 1887, the exchange
official said.
Evening star., 1936-12-31
ID. c. INVESTMENT FIRM
SETS new PEAK IN 1886

Robert c. Jones, head of the in
vestment house bearing his name,
stated in q letter Of appreciation sent
to all clients that the firm enjoyed
the largest volume Of business during
1896 Of any year since organization.
During 1886 the firm expanded its
operating territory to include Mary
land, Pennsylvania and Delaware,
where representatives have done q
substantial amount. Of business. Mr..
Jones Is optimistic on the outlook for
securities in 1897.
Other officers In the firm include
Marshall o. Emicios, vice president;
Oscar p. Hunt, secretary-treasurer,
and Edgar B. Rouse, vice president In
charge Of the Trading Department.
Evening star., 1936-12-31
Banking Outlook
Is Best in Years,
A. B. A. Chief Saws
BY the Associated Press.

ST. LOUIS, Mo-, December 81
Tom K. Smith, president of the Amer
ican Bankers Association and head
of the Boatmen's National Bank, In
Q year-end statement calls "the bank
ing outlook more encouraging than 1t
has been for some time"
Considerable progress already has
been made in eliminating the points
Of weakness in the banking structure
which became apparent during the
last few years." he said. with the
present spirit of cooperation and de-
termination on part of Government
officials and the banks further prog
ress is certain.
1.-THE base Of the recovery is gradu-
ally broadening. The durable goods
industries are showing greater activ-
ity and, although the volume of pro-
duction in these lines Is still far be-
low pre-depression levels, further ex-
pansion seems in prospect"
Evening star., 1936-12-31
HAND|CAPS FACED
BY SAVINGS BANKS ,
Earnings Problem Difficult.
Building Expected to
Aid in Solution.
(By Cambridge Associates.)

Contemplating the seventh lean
year, but with more hope than at any
time since 1929, savings banks are
tightening belts and sticking it
through. Earnings assets Of quality
sufficient to satisfy the requirements
Of conservatism are so much in de.
mand that yields have dropped to
negligible proportions. Yet liquidity
must be preserved to meet the GER
tain demand for mortgages when it
comes.
And with 1896 came the first glim.
mering ray of hope in the shape Of
an increase In renovation and extern
sion Of present building facilities, and
the thawing of many frozen mortgages
in banks portfolios.
To be sure the trend has not vet
established itself to q sufficient de-
gree to materially affect portfolio
yields, but increasing national income
is paving the way for a surge of new
building that will relieve the down.
ward pressure on earnings Of many
savings banks.
1t Is probable that the low point
Of savings deposit interest rates has
been passed. Oficers are no more
anxious to increase total deposits than
they were a year ago, but the revalua-
ton Of assets too drastically written
down during the depression is foster.
ing new attitude toward the po-
tentialities for the future.
Hardly to be considered as earnings,
gains from revaluation do neverthe-
less appear as quasi-prof1ts to dis
courage further retrenchment Further.
more, present interest rates are not
sufficiently attractive In relation to
other types Of investment to draw
in an undue amount of deposit money.
Unquestionably, banks are hoping
for and yet fearing an increase in
general investment yields. On the
one hand they would improve the re-
turn on new capital invested. but on
the other Is the threat of capital
losses on previous purchases of high
grade securities at above call prices
and, even more important, the pos.
sible growth of an uncomfortable
boom, which would spell nothing but
disaster for organizations required to
take long-term risks.
Evening star., 1936-12-31
BANK STOCKS SET
EXCHANGE TREND
Shares Advance Sharply
Under Increasing Demand
on Local Mart.

Perhaps the most significant change
during the year on the Washington
Stock Exchange has been the attitude
Of Capital investors toward local bank
stocks. Y. E. Booker, president of the
exchange and head of an investment
firm bearing his name, said today as
Evening star., 1936-12-31

''To one who entered the business
In early 1920 and then saw Pennsyl-
vania Railroad Is and Standard Oh
of New York 61as offered at 100 and
Atchison General Is (now around
115) as low as 68 (not to speak of Lib
erty Ans as low as 82), it seems q
little strange to see American Tele-
phone & Telegraph 3As, offered at
102. 60 at once to a. premium. It
makes me wonder about what will
happen to the prices OF high-grade
bonds when, as and II money rates
60 up.
Holds 1887 Outlook Good.
Prospects for 1887 are very good.
The forces Of recovery are now eyi-
dent in heavy industry and afiiliated
lines which have been rather backward
until recent months. Evidence indi-
Gates that the coming year viii see a
broader degree Of prosperity than
1896 with strong possibility that the
1880 level for business will be de-
cisively exceeded. Replacement needs
from obsolescence, expansion and
modernization programs made neces-
sary by increased business should con-
tinue to push business actively I'D.
ward. Labor troubles may in some
cases tend to hold down expansion of
earnings but labor difficulties are an.
other of the signs of recovery.
"A good many people are keeping
q weather eye on Europe, the posi-
bility Of war being the one serious
threat to 1887 prospects. However.
as compared with 1914, we are now
q creditor country and, in the event
OF war. the United States would be
the safest place for money. There
fore, the best opinion seems that the
outbreak Of war would cause a sud-
den reaction in our securities markets
followed by recovery and higher
prices.
s"With the administration COM
mitted to q cheap money policy and
apparently more worried about the
possibilities Of boom than of a
business recession, look for a con-
tinuation Of low interest rates and
high bond prices during 1887.
Many New Issues Forecast.
I'VE shall probably see many more
large refunding operations as well as
bond and stock offerings for the pur-
pose Of raising new capital. with
the prospect Of higher stock prices, I
believe it will be necessary for cor
porations to offer bonds and pre-
ferreds giving q conversion right or
warrant on common stock If they are
to attract the individual investor.
"The average man today is to a
large extent equity minded and wants
not only some reasonable probability
Of increasing his principal but also of
protecting it in case of imitation by
direct ownership Of common stock or
the privilege of converting his bonds
or preferreds into common stock.
When We consider q few Of the
pertinent factors, for instance: That
United States Steel has not yet got
back to q dividend basis and still has
arrears on its preferred stock (and
this Is true Of many other important
companies); that money rates are
low and money is busily seeking en-
ployment; that the normal recovery
cycle should still have several years
to run; it would seem that the broad
trend is definitely upward and we
can look for 1887 to be . very good
year."
Evening star., 1936-12-31

resolve for national peace become the
universal will of the Nation. It has
seen o national election which has
clearly indicated the will of the Amer
lean people to regulate business to
the end that some of the abuses Of
the past may be eliminated. # busi-
ness Is wise, it will cooperate with
the Government in q program Of we'll
considered reform.
I'VE must put back to work those
who are still unemployed and we must
recognize that the real problems be-
fore us are those Of recovery and not
Of depression. Our task Is to prevent
or check the next recession Of busi-
ness"
Evening star., 1936-12-31

the thought that something Is being
done to guard against q repetition in
magnified proportions Of the credit
boom which lead to the crisis Of 1929.
Meanwhile, he is interested, paradox
ically. in aiding and fostering the in
cipient demand for credit which ex-
panded commercial loans by an ap-
proximate % per cent during 1885.
This growth in commercial loans,
totaling nearly billion dollars in
1886, represents the first increase Of
any magnitude since 1929, and al
though the loans have been written
at interest rates far below those Of
that era, they are decidedly more lucra-
tive than the short-term, high-grade
bonds for which competitive bidding
has reduced the yield to record low
levels.
Evening star., 1936-12-31

This bank paid out q total Of 40 per
cent, amounting to 100000, when
some Of its assets were taken over
by the City Bank of Washington. The
trustees Of the liquidating trust re-
port that liquidation Of the remaining
assets are reasonably satisfactory"
and that the proceeds from these as
sets have been used to pay of the
Reconstruction Finance Corp. loan Of
$850,000, which was obtained by the
Mount Vernon Savings Bank in order
to pay the 40 per cent distribution
to depositors. The trustees reported
further that by the terms Of the trust
indenture" by which they operate
no funds can be borrowed to pay q
dividend to the depositors. Conse-
quently, proceeds Of liquidation of as
sets will have to be accumulated in
an amount that will be reasonably pro-
portioned to the cost Of distribution.
Many depositors have failed to call
for their dividend checks in almost
every one Of the closed banks. They
still come in from time to time for
checks. Consequently, the amounts
paid out by the receiverships actually
increase, although the dividends de-
clared remain in percentage the same.
Payments by Other Banks.
The latest figures on disbursements
on the other closed banks Of the city
are shown as follows:
Departmental Bank, 80 per cent,
amounting to $6l7,144.
North Capitol Savings. rs per cent,
amounting to $235,122.
Potomac Savings, 621a per cent,
amounting to $1,2s2,257.
Park Savings, IS per cent. amount
ing to s760,030. This bank is tn uti-
CATION. which may be settled during
the year 1887.
Seventh Street Savings, 80 per cent
amounting to $845,1s8.
Woodridge-Langdon Savings & Com
merc1al. 100 per cent, 100000.
Washington Savings, 80 per cent,
$27s,015.
Potomac Savings, e2h per cent,
$1,282,257.
The Continental Trust Co., which
merged with the Commercial National
Bank long before the latter. went into
receivership, also is In the hands Of q
receiver and in complicated litiga-
ton in its relations both with stock
holders and the Commercial Bank.
It has paid no receivership dividends.
The Industrial Savings Bank, coll
ored institution, paid IS per cent,
amounting to $192, 900, to depositors
when it reorganized into the Indus
trial Bank Of Washington, . new In
stitution, now operating at Eleventh
and U streets.
The Prudential Bank, colored, which
consolidated with the Industrial Saw
ings Bank In September, 1882, was
formally placed in receixership In
March, 1886. and attempts now are
being made to collect . stock assess
ment from shareholders.
Evening star., 1936-12-31

ing the past IL
months. Statis-
tics re q c h i n g
many, many mil
lions prove these
S t a t e ments, he
asserted.
The most i'm
portant accom-
plishment m a d e
by life insurance
companies during
Tie past year, tne
insurance execu-
tive said, was not
primarily the &C
celerated rate at
which IL addad fo
Evening star., 1936-12-31

he looked at the
last II months
from a financial
viewpoint.
Shares Of all
the banks, he
said, have ad-
vanced sharply
under increasing
demand, and are
quoted today at
the highest prices
which have pre-
vailed since the
early days Of the
depression.
Abundance Of
Evening star., 1936-12-31
CONSOLE SETS HOLD
LEAD IN RADIO SALES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December 31.-Forty-
two per cent of the radio receivers be-
ing sold at this time are table models,
50 per cent are consoles and per
cent auto radios. OF these receivers,
86 per cent tune In the shortwave
bands while II per cent receive broad
cast band stations only. according to
Radio Retailing.
Evening star., 1936-12-31
INSURANCE CHIEF.
HALLS BIG GAINS
Acacia President Points to
Tremendous Forward
Strides in 1886.

Life insurance made tremendous
forward strides in volume during 1886,
the amount of insurance in force Is
now greatest in the annals of man
kind and reserves and assets Of the
insurance companies are at their
highest and strongest levels, declared
William Montgomery, president Of the
Acacia Mutual Life Insurance Co., in
summing up business progress dur
Evening star., 1936-12-31

nearly, If not
quite, at the 1929
level" says Henry
!. Hartman, for
mer president Of
the Chamber Of
Commerce Of the
United States.
"It has seen q
great reduction
in the number Of
unemployed. At
least 1000, 900
men and women
have been put
back to work in
the past year.
Evening star., 1936-12-31
NEW BOND PEAKS CREATE PERPEXINC
BONDS COMMAND
PREMIUM PRICES
Lowest Yields and Highest
Quotations in Generation
Mark Senior Securities.

Lowest yields and the highest prices
for high-grade bonds in this genera
ton characterized the 1896 bond mar
ket, Thomas c. Montgomery, presi-
dent Of the Washington Bond Club
and vice president Of Waggaman,
Evening star., 1936-12-31
HARTMAN Halls
1886 ACHIEVEMENTS
Former q. S. Chamber Chief
Points to Rising Prices, Output
and 1000, 900 New Jobs.
sy the Associated Press.

BY the Associated Press.
BOSTON, December 31.-"The year
1886 has been most momentous. It
has seen real return of prosperity,
with prices rising and production
Evening star., 1936-12-31

Brawner & Co.,
said today in
summing up the
y e q RS activities
in senior securi-
ties. The in
creased business
activity and ris-
ing stock and
bond m arke t s
have been largely
due to the fact
that money has
been both plenti-
full and cheap. he
added. Continu-
ing, the clubs
president said:
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
COrOner's Cases
Total ISL i'm Year

Since the duties of coroner of
Imperial county were turned over
to the county sheriff's department
January Z. 1885, total of 161 COR
cner's cases have been handled,
according to Frank Raney, deputy
coroner.
total of So inquests were held
during the same period, Raney
said.
Investigations were made in the
case of murders, accidents, sui
cides and in many cases where no
physician had been consulted and
it was necessary to make an in
vestigation before a death certifi-
cate could be signed.
T. R. Warren, former instruct
CT at the University of Idaho, is
-. 80 <~F
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
VALLEY PAYS
HIGH RATES
FOR POWER

Imperial Valley cities, served by
a private power company, have the
unenvied distinction of paying the
highest rates for electric energy
among cities of their class in the
state of California as of January
l, 1885, according to a statement
issued recently by the Imperial r.
rigation District board of directors
based on an electric rate survey
for this state issued by the fed
eral power commission. The COM
parsons in this survey are based
on typical monthly bills fer cleo
tricity consumed by domestic users.
A further study of this federal
survey shows that there are 80
places in California where power
rate charges exceed those in the
Valley but these places, Is have
populations below 500 and all are
in either mountainous or other
wise semi-isolated or inaccessible
sections of the state where SER
vices of all descriptions would,
necessarily, be on higher levels.
But among cities which have not
this handicap of location, the fed
eral survey points out clearly that
those in the Valley pay the high
est rates in the class of between
10000 and $4,000 population and
also between 5000 and 10000 pop
ulation.
The power program adopted by
the district board, which would
retain the entire distribution of
all power from the All American
canal in the hands of the district
will remedy this local situation by
power not only to the
cities but also the ranches of the
Valley at prices which will be
among the lowest in the entire
country, the boards statement adds
further.
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02

FL Centre building permits for
1885 reached total Of 500, lob
with the December total standing
at S10,371, according to records on
file at the city engineers office.
No public buildings, churches,
theatres, hotels or apartment
houses of large size were built
during the year, records show.
Additions and alterations made
to all types of property during the
year amounted to S54,453. The
total of permits for residential
property was ST., 465: for business
property SO, 185 and $1,000 for in
dustzian property
lses The permit total was highest in
October with 13,l07 and the low
est in February with $3.50.
Totals by month were as follows:
January, 6,180: February, $3.50;
March, 1858; April, S9,279; May,
SO, 738: June, s11, 109; July, S4,709;
August, $3.50; September, SLAP;
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
SEEK DIVORCE
AFTER Sc YEARS
OF MARRIED LIFE

Mrs Elizabeth Crippen filed suit
il the county clerks office today
in which she asks divorce from
Charles Wa Crippen, to whom she
was married in June, 1899, accord
ing to the complaint. They were
married in Missouri.
They separated November "a.
1885. after having lived together
for 35 years and five months. TIE
complaint set forth. They have
no children of their own but
adopted three, all of whom are
nearing their majority.
She alleged in her complaint
that her husband mad been eX-
tremely cruel to her for many
years. The personal property con-
sists of $1,000 and three lots, two
houses and the furnishings are
listed as community property.
Mrs. Crippen asks for the prop
erty, for reasonable alimony, and
costs of the suit.
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
'POPEYE' WILL
PERFORM FOR
KIWANIS CLUB

Al Ritchie, San Jose, whose feats
of strength and imperSonations Of
the comic strip character have won
him the nickname of "Popeye," will
be featured on Fridays Kiwanis club
program at the Barbara Worth no.
tel.
Richie, who will be in Imperial
Valley two weeks, will make his
headquarters at the Roy Womack
Chevrolet agency in FL Centre. He
will appear here, in Brawley and in
other valley towns.
Development of mind and body
is the theme of the strong man, who
was 81 years old last August.
Among This fayorite demonstrations
are those in which he drives spikes
through inch planks with his fists,
breaks one-by-siX inch planks over
his forehead, bends steel pipes
around his neck and Strengthens
them over his stomach, and tows
express loading cars by chains
bound TO his neck.
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
MAN ACCUSED
OF ASSAULT
WITH WEAPON

Charging that Sam McAdams
struck him with a pair Of brass
knuckles, o. w. Majors of Calexico
swore out a complaint against him
at the district attorneys office to-
day.
The charge was assault with a
deadly weapon McAdams was ar
rested by Ell Centre city police and
turned over to the county sheriffs
office.
Majors said McAdams and four
other men asked him to go across
the border into MeXicali with them
and when he refused, McAdams
struck him, according to infor;na-
ton given at the district attorneys
office.
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02

verSity CT Washington will travel
half way around the world to Or
enburg, u. S. S. r. to study a total
eclipse on the sun ON June 10.
Photographs will give scientists
a clue on whether the solar system
is running on schedule. These pic
lures viii be taken in accurate
time celebrations and will show
whether predictions of the eclipse
are correct.
For years astronomers calculated
the movement of the sun. moon
and planets with accuracy. The
only opportunities they have for
checking their predictions is when
two of these bodies pass each 9TH
er. The total eclipse in June will
be the first since February, 1884.
The group will leave for Russia
in April and return in July.
Both Soviet Russia and Japan
invited scientific expeditions to
study the eclipse in their lands but
the joint expedition chose U. s. S
r. because weather records indi-
Gated greater chances of clear skies
near Orenburg.
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
MARSDEN RITES
TO BE SATURDAY

Funeral services for Mrs. C. S.
Marsden, former resident of this
city who died this week in San
Diego, viii be held Saturday in
that city at the Johnson Saum
funeral chapel.
Mrs. P. H. Judd an intimate
friend of the family, and other
valley residents living in San
Diego, viii be present for the serv-
ices.
Imperial Valley press. (El Centro, Calif.) 1907-current, 1936-01-02
HOLDUP VICTIM
MAKES MONEY

KANSAS CITY, Mo, Jan. 2. up
Raymond Harrison, drug store de-
livery boy, made $40 out Of being
held up Wednesday. He responded
to an order for bottle of medicine
and change for SO. A nan rendered
$40 bill, asked for his change and
then announced it was a holdup.
Harrison shouted and ran, taking
the bill and the change. The bandit
fled.