davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1937-12-01
BALTIMORE PRODUCE

, weak. California, western-crates Ice
berg type, 6-dozen, $2SO0s; few higher.
OniOns-Two Ohio arrived. un-
crate; demand light; market steady. So
| ID. sacks, u. S. No. l. Minnesota, yell
| lows, S1.4091.6o; New York, FELLOWS
s1.S5@1.4O; small size, &1.25; Idaho And
Washington, Valencias, inches and
| larger. $1.4O915O.
Peas-No carlot arrivals; 2 broken
and / unbroken cars on track Supplies
light; demand light: market steady.
California, bushel hampers. Telephones,
S2.7543.
POtatOes-Two Idaho, 1 Me. arrived ;
broken and 6 unbroken cars on track.
Supplies moderate; demand light; mar
ket steady. 1OO-pound sacks. U. S. No.
l: Maine, Green Mountains &1.3501.4O;
New Jersey, Cobblers, S1.15@1.25;
Idaho, Russet Burbanks, s1.8592.
Cabbage-One N. Y. arrived; un-
broken cars on track. Truck receipts
moderate; supplies moderate; demand
light; market steady. New York, So
pound sacks, Danish type, 75@SOc. Vir-
ginia, 1h-bushel hampers, domestic
round type, S5c@$1.
Spinach-Truck receipts moderate:
supplies moderate; demand light; mar
ket steady. Virginia, bushel baskets
Savoy type, 50065c.
Kale-Supples moderate: demand
light; market steady. Virginia, bushel
baskets. 35@40c.
light: market steady. Virginia, bushel
baskets. rs 04Oc
BrOCcOli-No carlot arrivals; . broken
cars on track. Supplies moderate; de-
mand light; market steady. California,
crates, s2.2562.5O; fair condition, So;
Pennsylvania, bushel crates, 1 dozen,
$1.25.
CaulifIOwer-No carlot arrivals;
broken car. on track. Supplies moderate;
demand light; market steady. Long
Island, crates 81.
Sweet POtatoes-Supples moderate;
demand light; market steady. Virginia,
bushe baskets, Puerto Ricans. 90c % 81.
Bananas-One car arrived; / broken
and 1 unbroken cars on track.
Tnrnips-One Canada arrived; 1 IN
broken car on track.
AvOcadOs-Florida, flat crates. 75c6
S125.
ranberries-Ma ssa chusetts. Il barrel
boxes, early Blacks, $3.50; late Howes,
$2.75.
Grapefruit No carlot arrivals:
broken car on track. Florida, boxes, 50
@2.5O, as to grade and size.
Oranges-Florida, boxes, $293, as to
grade and size.
LemOns-California boxes, No. 1, $40;
No 2, 50.
Tangerines-Florida. As bushel boxes,
$2@2.25, few higher.
The Washington times., 1937-12-01
GOVernmentDenieS
Utility Competition

UN.S) A Government denial
that the Administration used PWA
funds to foster municipal competi-
ton with privately-owned electric
power companies was before the
Supreme Court today.
The position of Administrator
1ckes was explained in brief filed
by the Government opposing eff
fort of the Alabama Power Com
pany to have PWA advances for
public power plants held invalid.
The brief said it was desired mere
ly to get sound projects to provide
employment.
The Washington times., 1937-12-01
MARKET SHOWS
SLIGHT LOSSES
IN SLOW TRADE
Gold Shares in Demand,
Motors Ease Little
BY LESLIE GOULD

NEW YORK, Dec. l 0NSO.
The stock market eased frac-
tionally in apathetic trading today.
A few pivotal issues lost a point
or more, but these were in the
minority.
LOSING ISSUES
Chrysler in the motors, Ameri-
can Smelling in the coppers,
Westinghouse Electric, Libbey-
OwenS-Ford. Allied Chemical,
Sears Roebuck and American Can
were included in this group.
Steels were fractionally lower,
including United States Steel and
Bethlehem, the latter having been
up a point for a short time after
opening.
RAILS DECLINE
Slight losses were shown by
rails, utilities and farm nipple
ments. Oils and rubber shares
were mixed and quiet. Rail equip
ments displayed relatively
steady tone.
Gold shares were in demand,
particularly Dome, which moved
a point higher to 40. Mcintyre
and Alaska Juneau added large
fractions to previous closing quo
tations.
The Washington times., 1937-12-01
DEFENDS
POWER GRANTS

G.N.S0. A Government denial
that the Administration used PWA
funds to foster municipal compe-
tition with privately-owned electric
power companies was before the
Supreme Court today.
The position of Secretary of In.
terror Ickes, as Public Works Ad-
ministrator, was explained in a
brief filed by the Government op-
posing effort of the Alabama
Power Company to have PWA
gifts and loans for public power
plants held invalid.
The Washington times., 1937-12-01
FEC CONSIDERS
NEARBY RADIO

An examiner of the Federal
Communications Commission last
night took under advisement the
application of Arlington Radio
Service, Inc, for permission to
operate a 1,000-watt broadcasting
station in Arlington county. Two
broadcasting companies filed pro-
tests at yesterdays hearing. They
were Station VIVA, of wheel.
ing, w. Va, and the Monocacy
Broadcs sting Company, of Fred
erick, Md.
Officials of the Arlington, Alex
andria and Fairfax Chambers of
Commerce and leading business
men of the sections urged ap-
proval of the petition
The Washington times., 1937-12-01
n. Y. Building Men
Back Roosevelt

NEW YORK, Dec. l Q.N.SD.
New York real estate and con-
struction interests today greeted
President Roosevelt's housing pro-
gram as step in the right direc-
ton. Particular approval was
placed on the suggestion that con-
Struction costs should be reduced.
The Building Trades Employers
Association pointed out that the
chief hope for increased building
under the program lies in the ell
couragement of Iarge-scale hous-
ing operations under which 500 to
1000 homes might be built at a
time.
The Washington times., 1937-12-01
Wool Sweaters, ST

women's and misses all-wool coat
sweaters to wear over your dress or
suit and under your coat. Dark
colors, sizes "a to "A.
The Washington times., 1937-12-01
Cotton
Quiet and Steady

LIVERPOOL, Dec. l G.N.SO.
Liverpool spot cotton opened quiet
today with prices steady. Receipts
totaled $4,000 bales, $500 Of
which were American.
At non strictly good middling
was 5.45d; good middling, 5.15d;
strictly middling. 490d; middling,
4.65d; strictly low middling, 4.40d;
low middling, 3.90d; strictly good
ordinary, 3.40d. and good ordi-
nary, 300d. Futures moved little.
At noon, January was 4.54d;
March, 4.59d; May, 464d, and
July, 4.67d.
The Washington times., 1937-12-01
TOddy'S Most
Active Stocks
High Low Noon

High Low Noon
Am r & st s.. i 14Hs 14A 14as
Anaconda ..... 301aI 297sI 3O1a
Beth Steel ..... 511aI so 5O2s
ChrySler Corp. 571aI 56la 56Ts
Dome Mines &C.. 48H Al FA
Gen Elec ...... 4212 41B 42B
Gen Motors %. 353s IS 35A
Int Nick Can. 1924 41A 42H
Kennecott Cop. 35B 35 35B
Montgom Ward. 351a 343s 345s
Ny Cent RR. =. 1921 1874 1879
Para Pic 1st pr 1879 1919 1912
Pure Oil. ...... 12%I 113sI 11Ts
Repub Steel. go. 1874 175sI 17Ts
U S Steel. ...... 55AI 5434I SIS
Evening star., 1937-06-26
Deaths Reported.

Solomon 9 Filscher, =, 6s0a bth st. ne.
Anssri Aliee M u Crnit ,. e. 1898 Camnridss . pi
Charles H. Mcclellan. 80. Veterans' Ad-
ministration Facility.
Alice B. Casey. SO. Georgetown University
James Martin. %. St. Elisabeth. Hospital.
Alice G.. Washington. 81. Bl9 Gresham pl.
Emanuel Roberts, - Gallin{er Hospital.
William Nash "a. Gailinser Hospital
Nettie B. Barnhart, %, Freedmen's Hos
Infant Delois orier. eaba 18th st.
SssasoFf h,1s% Frgsisnd pS;3S s! s. :.
ASsT Aas ca}of 4 oeysr ss $50 s3 ch..teT Conn 1 ave
Fannie M. Embrey 81. 9I4 st. Sc.
John A. ouisenberry. SO. Casualty Hospital
Susan Rowe. SO 1l Mass. ave.
Ghrstas Ghne Hsxes sasn M s g. g.: rf aospa st
Patrick J. OBrien. %. U. 8. Soldiers
william NJ. Poore. 81. $500 N.y.d. Ave.
Minnie NJ Hatch. as Garfield Hospital.
Clarence Cameron. 46 Gallinser Hospital.
Georse 4. Post. 40; rear 4s2 lndiana ave,
Leurinda H. Carter. 3s. Garfield Hospital.
Jennie Capello. 25. Georaetown University
Frank +. Simpson. "a GEORGETOWN Uni
Frances nt s F. ' Weir. 3s. 14os Franklin st. ne.
William Holloway, %. Gallinger Hospital,
Joseph Coleman SO. 27:7 Sheridan rd. sc.
Thomas j. Snowden, 56. 424 Q st.
Henry Mcdowell. 40 Gallinger Hospital.
Mary Roberts. 40. Gallinger Hospital,
Jack S Small. %. tuberculosis Hospital,
Infant OF MARVEL Marshall. GallinRer Hos
pita.
Evening star., 1937-06-26
In @rn1nrta11.

CRAFTY. JAMES AUGUSTUS. In sad but
lovine remembrance of our dear husba nd
and father. JAMES AUGUSTUS CRAFTY
1895. W.
Our lips cannot tell how We miss him.
our hearts cannot tell what to say;
Coo alone knows how We miss him
IN home that 10 lonesome today
HIS DEVOTED WIFE BERTHA.
You left behind broken hearts
That loved you so sincere
That never did and never will
HIS fSvis9s e5yfs s0H 1A6aHTtssssr f5thf1 sssr EDNA AND
MARIE.
HUNTER. KATHLEEN PEBBLES. A trib.
ute OF love and devotion to the memory
OF one OF tne @ best women Who ever lived
who departed this life one year ago to-
day. June %. 1886
HER HUSBAND j. B. HUNTER. :
HUNTER. KATHLEEN PEBBLES. Sacred
KATHLEEN PEBBLES III HuNTna H1a 1So ens. DE-:
parted this life one year ago today. Juns
20. 1896.
Ever near us. thoush unseen her dear,
, immortal spirit dwells:
KATHLEEN. BETTY.
SMITH, NIHLA CHRISTINE. In remem.
brance of NYHLA CHRISTINE SMITH
Who left US seven years ago today. June
26. 1880.
The only link that death cannot sever.
Is love and remembrance. which live
J. W. AND L. M. SMITH. .
Evening star., 1937-06-26
A. P. Wirephoto.

tions. with the assurance that they
will not be molested'
At Camp Tamiment. Pa, the Lieu
tenant Governor, Thomas Kennedy
said he would ask Gov Earle to ap-
point commission Of representative
citizens" to investigate abuse Of police
power of the State in times of strikes
He scored Mayor Daniel Shields OF
Johnstown as AN errand boy 70.
Bethlehem Steel"
We have found examples in Penn
sylvania where Mayors have cooper
ated in driving out c. l. O. organizers. =
he said The time is ripe for investi-
CATION, and 1t should be exhaustive to
eliminate this intolerable situation"
Wagner Criticizes Companies.
Senator Robert Wagner. Democrat
Of New York. author OF the labor re-
lations act, spoke sharp words against
"a few large corporations" which. he
said in a radio address. are "nghting
labor and labors right to organize"
Any large corporation which ."
proudly boasts that 1t will not sign
contracts with labor unions) "
is serving notice on the whole world
that it will not obey the law" the
Senator said.
Adding to strikers woes was an in
junction granted by a Canton. Ohio
court which enjoins against any ex-
cept peaceful, lawful picketing
Sheriff Joseph T. Mist, accompanied
only by two deputies. went down into
the musty, ill-lighted, cellar which
serves as C. I. o headquarters in Cam
ton and, standing on a chair, read
the injunction to about so strikers.
He told them he would enforce an
e!ght-point program calling for dis
arming Of all persons. arrest Of any
one who violated the injunction. and
prohibiting Invasion by strike SYM
pathizers.
With the aid Of militia he proposed
to remove the picket barrier which
blocks entrance to the Republic Steel
Co.'S Canton plant.
There was some loud talking and
muttering when the sheriff mounted
the chair and read the injunction.
but when he paused and said: Il ask
you to be quiet, am the sheriff, -
the noise suhsided.
Evening star., 1937-06-26
Births Reported.

Dario and Iacopina PixEa, boy.
Lee and Mary Glasscock, girl.
Benny and Alice White, boy.
James and Verona Lancaster. girl.
Junius and Cora williams. girl
william Z. and Edna M. Austin. siri and
boy twins.
Max A. and Davena NJ. Lett boy
Adelbert H. and @. Ethel Lewis. boy.
John A. and Emily D. Butler. girl.
william and Ruth Joseph. girl.
Paul H. and Mary J. Johanson, girl.
Harry r. and Frances Knott. sirl.
Edgar c. and Janice Muse. boy.
John and Ceceia Berry; boy.
Edward 8. and Grace b. Beach. boy.
Max and Louise 8. London. boy.
Bennett G. and Marian A. Jones. sirl.
Allen C. and Dorothy McCauley airl
Harold s. ana Elizabeth w F1ts. sir,
Peter j. and Marguerite WenttanK. girl.
Russell A. and Thelma Z. Quick. boy.
George and Helen 0lekas. boy.
Martin L. and virginia =. Oberman. boy.
Robert G. and Evelyn M. Hohmeier. boy.
Robert and Estelle wallace. boy.
Owen P. and Bernice A. Calender, sirl.
Evening star., 1937-06-26
MRS. FRANK SHINE DIES

Mrs. Josephine Shine. "a. Of lis
E street southwest. wife of Frank
Shine, engineer at the wholesale
plant of the Standard Oil Co, South
Capitol and I streets, died last night
in Sibley Hospital. She had been
i'll about four months
Of this city She was a member OF
the Federal Credit Union.
Besides her husband, Mrs. Shine
leaves two sons and a daughter by a
former marriage Fred Rees, this
city: Charles Rees, Revere Mass and
Mrs w. j. Mcintosh. Seattle. Wash: a
brother. John Walsh, this city. and
three grandchildren.
Evening star., 1937-06-26
GEN. ABERNATHY NAMED
SOJOURNERS' PRESIDENT

NEWPORT, R. I. June 26-Brig
Gen. r. S. Abernathy Washington.
D. c.. today was elected president Of
the National Sojourners. Masonic
organization of Army and Navy men.
The Soiourners, at the concluding
session on their seventeenth annual
convention selected Detroit, Mich as
the site for the 1888 convention.
Other officers chosen included: First
vice president. Rear Admiral Yancey
s. Williams Of Washington; second vice
president. Gen. F. w Baldwin, New
York: third vice president, Maj. Gen.
Charles H. Lyman. U. S M. c., San
Francisco; secretary-treasurer. Mai.
Gen. George F. Unmacht. Pittsburgh.
Pa: chaplain. Mai Alfred L. Oliver,
Washington; Judge advocate. Col. John
A. Smith. Washington: surgeon, Col.
M. E. Leary, Rochester, N. Y.
Evening star., 1937-06-26
DISTRICT ATTORNEY, 27,
GETS YALE DOCTORATE

Edwin E. Ferguson. attorney in the
legal division of the Railroad Retire
ment Board. at the age of ~, has
just received his third degree, that
of doctor of the science of law. from
Yale University School of Law.
Or. Ferguson. who lives at 2737
Cathedral avenue, received B S.
degree in education with honors from
Drake University, Des Moines. Iowa.
in 1881. and his Ii. B. degree with
honors from Drake in 1884
He attended the Yale Law School
from 1885 to 1886 and for the past
year has been continuing a non-resi-
dence course. His thesis was on
Evidence and the New Federal Rules
Of Civil Procedure
Evening star., 1937-06-26
40 GL|DERS READY
FOR SOARING MEET
125 Pilots to Compete for
$1,000 in Prizes at
E|mira, N. Y.
En- the Associated Press


ELMIRA, N Y, June 26-Mors
than 40 airplanes, without motors,
rested at the lip of Harris Hill today
for the start OF the eighth annual
gliding and soaring meet fathered by
the Soaring Society Of America.
The skimp-fuselaged craft, predom-
inately of American and German
manufacture, will be flown during the
16 days of the meet by some 125 pilots
intent on capturing part of the Sc, 600
in prize money offered for records and
glider design.
Continuing research in areodynam-
les initiated by Chanute. Lilienthal.
the Wright brothers and other glider
pilots OF two-score years ago the
motorless flight experts will combine
attempts at record breaking with
study Of air currents and the behavior
Of craft in flight.
ThermaIs Found Here.
1t was here that the existence Of
upward currents of air, called "ther-
mails under cumulus clouds was first
discovered.
The meet will be opened with cere-
monies dedicating buildings and i'm
provements on Harris Hill and five
other glider sites in the vicinity OF
Elmira as the Warren E. Eaton Glider
Fields. Eaton. long president of the
Soaring Society, was killed in a glider
accident at Miami, Fla. in 1884.
Mrs. Eaton has offered $500 in
prizes at this meet for better designed
gllders to encourage research in FASH
lonlng and constructing American
motorless craft. Six gliders have been
entered in this contest.
The entrants are the Carnegie In
stltute of Technology Glider Club the
University of Detroit Glider Club, the
New York State Aviation Schools. r.
E. Bailey of Glendale. Calf; Paul and
Ernest SchWeitzer of Peekskill, N. Y,
and the ABC Glider Club, Detroit.
Dozen Craft SaiIplanes.
A dozen craft, entered in other sec
tlons OF the meet. are sailplanes. high
performance type of motorless planes
designed especially for distance and
altitude flights. Several are of Ger
man design and manufacture.
Evening star., 1937-06-26
LLOYD RITES TOMORROW

Funeral services for Demarest Lloyd.
81 journalist and publicist. will be
held tomorrow afternoon in St. Adams
Chapel. near his Summer home, Po-
tomska Point. which is near New
Bedford. Mass. it was announced to-
day. Burial will be at Potomska Point.
The body was sent last night from this
city to Massachusetts,.
Mr.. Lloyd died Thursday at Penny
field, his country home near Great
Falls, Md. Widely known as a writer
on political and Americanization
questions, he had been active in many
organizations. He also belonged to
leading clubs in this city and else
where. His home here was at 1925 r
street.
Evening star., 1937-06-26
TURNER RITES HELD

The funeral Of Lieut.. Thomas Lee
Turner. who was on duty in the office
of the judge advocate general. Navy
Department, was held this morning
in Arlington National Cemetery with
full military honors. He died in Naval
Hospital yesterday.
Services were conducted at the grave
by Lieut.. Comdr Joseph H. Brooks of
the Nays Chaplain Corps Honorary
pallbearers were Comdr. E. E. Hazlett.
Lieut.. Comdr. G. D. Morrison. Lieut.
J. M. p Wright. Lieut.. W. r. Thayer
Lieut.. j. R. wallace and Lieut.. H. H.
Tiemroth.
Evening star., 1937-06-26
MRS. W. n. SCOTT, ILL
OF FEVER, RECOVERING
Wife of American Consul in
Canary Islands Reported Bet
ter at Home of Sister.

Mrs. Winfield H. Scott. wife Of the
American consul in the Canary
Islands, was reported recovering today
from tropical fever at the home of
her sister. Mrs Ralph B. Deemer, 2l3
Maple avenue. Takoma Park, Nd
Ill for several months, Mrs. Scott
returned to Washington two weeks
ago for treatment of the rare malady
described as Canary fever" Mrs.
Deemer said she had improved rap
idly.
Mr.. Scott remains at his post in
Teneriffe. capital Of the Canary
Islands. He is native Of Alexan-
dria, Va.
Evening star., 1937-06-26
Ladies Night Held.

Washington's Loyal Knights Of the
Round Table held ladies' night party
at Kenwood Country Club last night,
consisting of a dinner followed by
dancing, bridge and other entertain
ment. Raymond E. Rapp was general
chairman.
Evening star., 1937-06-26
THE WEATHER

District Of Columbia-Partly cloudy
tonight; tomorrow probably local
showers. not much change in tenn
perature; gentle variable winds
Maryland-Partly cloudy tonight,
tomorrow probably showers, not much
change in temperature.
Virginia-Partly cloudy with local
showers today and in southeast por-
ton tonight; not much change in tenn
perature.
West Virginia-Proba bly, local show
ers tonight and tomorrow; not much
change in temperature.
River Report.
Potomac and Shenandoah Rivers
very muddy today.
Evening star., 1937-06-26
Lily Pons' Grandfather Dies.

NEW YORK. June 2e Lp.-Word of
the death of Jean Baptiste Naso, %.
grandfather OF Lily Pons, Metropolitan
Opera and radio star, WAS received
here today from Cannes, France.
Evening star., 1937-06-26
Uarn nf Ttanka.

1UCKER. SAMUEL W. Mrs. Matte T.
Rucker and family wish to express their
appreciation OF the sympathy and kind
ness extended to them by their friends
during the recent illness and at the death
Of their husband and father. SAMUEL
", RUCKER
Evening star., 1937-06-26

Record fer Last "a Hours.
prom noon yesterday to noon today
Highest IS. At 3:5b pm. yesterday.
Year aRo. 81
Lowest. 70. at an. today. Year
aso. 80.
Record Temperatures This Year.
Highest 43 on April Is.
Lowest. 10. on February IS.
Humidity fer Last "a Hours.
FROM noon yesterday to noon todayo
Highest 80 per cent, at $40 am.
today.
Lowest 33 per cent. At 3 pm. yester-
CAV.
Tide Tables.
FURNISHED BY United States Coast and
GeOOetic SurYeyD
Evening star., 1937-06-26

Looking alike they go,o older Landon
M of 517 Seventh street. southeast and Mrs.
Dayona Beach, Fa still ,oithout glasses
q1tough 81 yeq,s e ags Mrs. lone: stng Thomas
born and reared in Badensburg Md and untA they
Mrs. Landon brunette and Mrs Jones blond
children. Star Staf Photo
Evening star., 1937-06-26
The Sun and Neon
Preeipitation,

Monthly preCipita ton in inches In the
Capital tcurrent month to date:
Evening star., 1937-06-26

Furnished BY United States Coast anc
Geo0etlc Survey
Evening star., 1937-06-26

Report for Last 81 Hours.
Evening star., 1937-06-26

sINIMS. DANIEL W Died Friday. June
70, 1885,. at Alexandra Hospital. DAN
1EL w. S1MMS. age TO- devoted father
of Mrs Bessie Brooks. Alexandra. Va,
and two sons. Everett and Bathers
Slmms of Franconla. Va. Remains rest
ing at his late residence, Franconia. Va,
where funeral services will be held
Monday. June %, At 2 pm. Interment
Reulah Cemetery ~.
Evening star., 1937-06-26

SIGNOR. JAMES L. On Friday June 25
1887. at his residence 4O3 South WAYNE
ST.. Arlington. Va JAMES l. SIGNOR.
the beloved husband OF the late Lavenia
Sisnor ana father of Mrs. Estell Huber.
William H. Signor Mrs. Mary Taylor.
Mrs Ethel Msthison. A. c. Clements
and Clarence Clements. Remains resting
at his late residence. Notice of funeral
later. Services by the W. w. Cham
bprS Co
Evening star., 1937-11-20
and cultural movements of which
these styles gave evidence swept the
Western world.
Periods of General Change.

and cultural movements Of which
these styles gave evidence swept the
Western world.
Periods Of General Change.
'The fact is that at certain In
tervals there is a period OF general
change and development during which
people in all the regions affected live
in somewhat the same way-on the
same level of civilization-with the
result that they build In approxi-
mately the same way. using similar
structural and esthetic principles, but
allowing always tor the many local
variations resulting from differences
OF climate, terrain and traditions.
I'm artistic taste America is very
conservative, and We do to some ex-
tent look to Europe for models of ex-
preston. We must concede the fact
that in Europe there exists greater
capacity for creating new esthetic
forms. When we borrow, however, we
adapt rather than copy, which is an
entirely legitimate way of using de-
rivations. The skyscraper. though it
Is far from typical of the majority
of buildings in the United States, is
conclusive evidence that we are en-
gineers of the first order and that
We can vest our feats OF engineer
ing with equally new, daring and fit.
ting esthetic forms.
In America the outstanding excel
lence OF our contemporary architec-
ture is in planning, the economic
and Unitarian value OF which need
scarcely be expounded.
But fine planning also in large par,
| determines the esthetic quality of the
Evening star., 1937-11-20

should be left in the revenue act any
possibility that bona flde real estate
company might be classified as hold
ing company, the association in its
memorandum asks that interest re-
ceived on evidence of Indebtedness
obtained In the ordinary course OF
business should not be included in the
list of income sources which if they
make 80 per cent of a company's gross
income now automatically bring it in
line for holding company clasSifica-
ton. and that II more than IS per
cent of companys gross income con-
Sitsts of rent that company auto
matically be excluded from such clas-
Slflcatlon.
Small Firms Affected.
Many people have assumed that
personal holding company is limited
to those holding stocks in other COM
panles, or the incorporated pocket
book" Or the incorporated yacht"
that is featured so often in the news,
and also that it would be limited to
the so-called big" companies. Such
is not the case. The 1887 Federal
revenue law defines personal holding
companies through two main require
ments:
l. That more than so per cent in
value of its capital stock would be
owned by or for five individuals or
less. If stock be held by the brother,
sister. spouse, ancestors or lineal de-
scenoants Of a stockholder, then all
such family members collectively are
regarded as enc individual within this
definition.
2. That 80 per cent or more of its
gross income be derived from interest.
rents, dividends, royalties and annui-
ties and Except in the case of regular
dealers in stocks and securities) gains
from the sale OF stock or securi-
ties. If rent constitutes more than
80 per cent Of the corporations gross
income. then it is not personal hold
ing corporation.
Today's changed conditions and
practices in residential development
set up to make sounder conditions for
the home purchaser substantially in
crease the probability that the COM