davidaulloa/AmericanStories huggingface dataset:
Evening star., 1937-02-26

New Jersey Zinc Co. declared an ex-
ira dividend of so cents a share on
common stock, payable March 10;
president said results Of operations In
frgt two months were excellent.
Evening star., 1937-02-26
SUGAR DELIVERIES GAIN.

NEW YORK, February 26 @.-
United States beet sugar deliveries In
January totaled 1907, ,121 bags. COM
pared with S41,117 in January, 1896,
trade figures today disclosed.
Evening star., 1937-02-26
DIVIDEND is ORDERED
BY MONTGOMERY WARD
BY the Associated Press.

BY tnE ASSUCldteu FItoS'
CHICAGO, February 26-Mont-
gomery Ward & Co. directors today
voted a quarterly dividend of SO cents
on common stock. payable April Is
to stockholders of record March 49,
This is the same rate established
last November.
A payment Of SITS on the class A
stock on April l to stockholders of
record March 10 also was voted.
Evening star., 1937-02-26
FOREIGN BONDS.

ww-With warrants xw-Without war
1ants New. st (stp)-Stamped
sNegotiability impaired by maturity.
fCompanies reported in receivership.
Evening star., 1937-02-26

uuarterIy Or sem,.annTai % Z. ynss0 ymsn. On tnnt AZ
nual rate-not including extras TAG.
cumulated dividends Paid last year
Paid this year COMPANIES reported e
being reorganixed under the bankfIDse1
act. o. securities assumed by such COM
pantea.
Evening star., 1937-02-26
Chicago Cash Market.

Chicago Cash Market.
hard. .35s4 No i. mixed. i IS: corn.
No; 3. mixed. ] 10; No. 3: yellow. 1,1oh-
white. I.09-l1 oats. No L. white. 49l4:
No. .. white. 4sH-49la; No. 3. white. 4s34;
rye. No. 4. ON: barley feed. 73-95 pom;:
mating .00-40. nom.: timothy seed.
6OO-25 hundredweieht; new. 5.75-6.00
hundredweight: clover seed, 2S.00-35OO
hundredweight.
Winnipeg Prices.
WINNIPEG. February 26 P.-Grain
range today:
WHEAT Prev.
High. Low. Close. Close.
May 1.24ss 1.22ss 1.24!a 1.23-23is
July 1201s 1.IS7s I.20sa 1.19L3-9s
October LOO" 1.osA 1.o9s+ LOS"
May .54N .53h .547s "a
Baltimore Quotations.
BALTIMORE. February 26 Rl.-Wheat.
No. . red Winter. garlicky. spot domestic.
1431a; February. .431a.
Evening star., 1937-02-26
Intertype Corp.

Intertype Corp. of New York, type
setting machines and appliances, had
1886 consolidated net income of $685.
626, equal after dividend requirements
on preferred stocks to S1.42 share
of common stock. against s244,471, or
rs cents a share, in 1885.
Evening star., 1937-09-19
Simple, Formal, Mingle
In Life of Brazi1ians

NEW YORK.-A curious blending Of
the simple and the formal character-
ICES the life Of Brazil in general and
that Of Rio de Janeiro in particular
In their homes the residents OF Rio
are charming people because they
believe in simplicity. They like vis-
itors in the home and pay them the
honor of being natural and unpreten-
tious. Hosts are likely as not to ask
one to take potluck, and many Bra
zilians keep practically open house.
Girls in Rio enjoy a great deal Of
freedom. and in this Latin country
one will see them on the fine beaches
each morning, quite as anxious for a
swim and exercise as American girls
are. In many ways, however, family
life there varies much from that of
the United States. For one thing. the
family Is much closer unit. Family
get-togethers are the usual thing and
are even carried 20 far that there arc
often set days IN each month for them.
Evening star., 1937-09-19

timistic, could we'll be but the signs
Of . long expected "dattening out" or
resting" period in the recovery cycle,
whose ultimate trend Is still upward.
Case Of Mass Jitters.
No doubt some investors, anticipat-
ward their estimation OF the stocks
they held on Labor day. II so, they
soon had many imitators, who, when
they came to sell, found the market
very "thin," with few large buyers
Their actions developed a case Of
mass jitters and down went prices.
Conservative, blue chip American
Telephone and Telegraph common, for
example, stock held by $4,000 in
vestors-slid from $167 per share on
September to $3.50 on the 14th.
United States Steel common, also
widely owned, dropped from $103H to
$93H per share.
Investors and SPECTATORS having for
four years exhibited strong mass op-
timism as to the future Of stocks, last
Spring switched to an attitude OF
uncertainty, and this month to one OF
pessimism. Business sentiment has
for some time been worse than busi-
ness. In Wall street language, the
market was due for a technical re-
action, and if this was not widely
appreciated before the event, it is
generally accepted in retrospect. What
obscured the vision of many persons
as to the markets vulnerability was
the fact that stocks, having lost their
momentum last March, had by Labor
day already experienced a quite con-
siderable net shrinkage in values.
420 Leading Stocks.
To elucidate, let us view the story
in perspective by referring to the
accompanying chart. This chart rep
resents the course of 420 leading
common stocks as compiled by the
Standard Statistics Co. While there
are various similar private compila-
tions, this one is selected for ALL
around purposes because it takes into
account the number of shares of each
issue outstanding.
The depression "low" Of industrial
shares occurred in mid-l932. Early
1888, following President Roosevelt S
inauguration, witnessed a sharp rise
in response to the adoption of in
flationary policies. Then there de-
veloped period of rest and con-
solidation until the Spring of 1895.
From that time until March, 1887, the
market advanced with only slight
interruptions, responding to prospects
OF renewed or increasing dividend
Evening star., 1937-09-19

O4 nLhDLh1 IVA. DINA i En-.
s. Took values drop Is billion
in four weeks" the front
page tells US.
- Does Main Street depend
on Wall Street? Does business depend
on the stock market, or is it the other
way around? If it does, we would
seem to be in for another dose Of
depression.
What pushed stocks down the to-
boggan the last two weeks?
Hardly had the Labor day crowds
returned home, when the bottom
seemed to drop out Of the stock
market. Within week industrial
shares had tumbled 10 per cent.
Rails" and utilities" which had
developed weakness in July, followed
along. Stocks on September 13 sold
at only 70 per cent OF their high for
1897, and recorded 4 net loss of IS
Per cent OF all their recovery since
the low Of 1892.
Such a general collapse of share
prices without some obvious and
clulRlC CARld1id IlOAl 40 lCkdl OCQ 40 fCl
unusual. For, certainly, no close
student of economic trends thinks we
have attained recovery and are enter
ing ''the next depression" No eco
nomic or political catastrophe is be-
lieved to be facing the country, no
banking panic. no great civil distur-
bance. This isn't another 1929, nor
q 1914
Multiplicity Of Theories.
Why such sharp break, then?
And what precipitated it? Despite
the multiplicity of theories presented
by financial observers, no one in
Washington seems able to point to a
specific precipitant." The stock mar
ket slide would seem to be more in the
realm Of mass psychology than of
economics. But only a scientific poll
would disclose the reasoning OF the
bears
1t happened that the particularly
| sharp break in prices commencing on
September coincided with a period
OF European anxiety concerning
pirate" submarines in the Mediter-
ranean Sea. Was this its cause
Hardly. There have been a whole
series Of war scares in Europe, even
during the two-year period of steady
recovery of the stock market Trad
ers' hardly could have been SO
thoroughly frightened by this last
oversee cry of wolf, wolf" as stock
quotations might superfcially be
| taken to indicate.
Nor are we faced with a business
depression. August iron output was
the highest since September 1929;
freight car loadings have been in
| creaslng. 1t is true that the Com
merce Department on September 10
reported certain signs of slackening
activity: A probable decline in indus
trial production for August, seasonal
slack in the automobile industry, de-
creased consumption of cotton and
wool, ller-than-expected coal min
ing, and, during July, slight reces.
sion in employment and pay rolls
Freight traffic in July had not ex-
| perienced the usual seasonal rise-tfe
department announced-and was
nearly 5 per cent below the April
volume while construction operations
were still subnormal. But these trends
l while disappointing to the more op-
Evening star., 1937-09-19


height.
adverse influence on business senti-
ment. Not only does it attract wide
notice and focus attention on every
scrap of bad" news or evidence Of
subsiding recovery; 1t adds to the
feeling OF uncertainty which nowadays
is especially latent, II not dominant.
This months stock market break,
in this way, may therefore alter the
immediate business picture somewhat.
A stock market factor Of persistent
importance since last March, and
certainly since August, has been the
increasing misgiving evidenced in the
trading community as to the course OF
corporate earnings Of 1888 During
the first halt Of l937-as had been
discounted well in advance by the
narket-net corporate income in
creased about 40 per cent as compared
with the like period Of 1896. However,
when studied more carefully, the
figures showed 81 per cent increase
in the first three months OF 1897 and
only rs per cent during the second
three months.
Position Of Recovery.
In announcing the foregoing. the
Digest Of Digests, a New York stock
market service, last month pointed to
"the fact that recovery has now
reached an advanced stage and is
apparently entering a period in which
future earnings improvement is not
likely to be proportionately as great
nor as widely shared as it has been
in the past few years"
Specific items of uncertainty which
doubtless influenced stockholders to
sell this month were. Some question
as to the ability of the steel industry
to maintain its high rate of produce
ton; the relatively poor showing made
by retail trade during August; the fear
war conditions in Europe would seri-
ously interfere with international
trade; the continued inability of the
very important construction industry:
where costs have risen markedly. to
participate more heavily in the general
recovery movement; and the general
expectation that more labor troubles
are ION the cards" Increased pros
pectlve labor costs as result Of wages
and hours legislation scheduled for
early consideration by Congress have
been another factor in investors bear
lsh sentiments.
The danger of a general war in
Europe has another and more direct
bearing on New York stock market
psychology Foreigners now hold ap-
proximately s600,O00,O0O of American
listed bonds and we'll over So, 900 OO0.-
600 OF stocks. If war breaks out on the
continent, it is feared, the belligerent
governments may quickly nationalize
the American investments of their
nationals, and start selling them to
raise cash. Heavy liquidation might
easily break the market" some think.
There are pros and cons to this line
OF reasoning. Regardless of what for
eigners would do, however, the fact
that many Americans think they
would dump securities is SUFFICIENT to
influence the New York markets
action in time of anxiety.
Certainly foreigners cannot be
(See MARKET, Page C-3)
Evening star., 1937-09-19

payments, inhationary fears, inhowing
foreign funds and the like.
Last October Chairman Eccles Of
the Federal Reserve Board made pub
lie reference to the desirability Of
checking q speculative imitation. Many
investors then made note of his
remarks. Later, on April 2, when
President Roosevelt issued his caution
about inflationary commodity price
increases, the warning was widely
circulated. Washington is now in
fiation- conscious" investors remarked.
March to- June Decline.
From March to June this year the
stock market registered q material
decline, while from June to mid
August q Is per cent recovery was
experienced. But these gains were
much more than eliminated by this
months collapse, which put the stock
prices back where they had been in
late 1895, net loss of about 40 per
cent Of the progress they had made
since March. 1885.
Some people hold to the theory
that the stock market anticipates
changes in the business picture. Since
statistics of industrial and commercial
activity indeed indicate that the pace
Of recovery has already slowed down,
such persons are inclined to conclude
from the stock markets recent break
that q business depression is in the
near offing.
But that conclusion cannot be sup
ported by available economic statistics.
Persons who closely follow the business
picture have, it is true, for some time
exhibited a cautious attitude as to
the level Of business during the last
quarter Of 1887. Some of them have
felt that the expected seasonal pickup
due to crop movements, holiday busi-
ness, ETC., might this year be less than
normal
Yet some OF those who usually are
well informed on the business situation
have been unwilling to predict the gain
this Fall will not be greater than
normal.
Break in 1929.
In other words, one should not
jump to the conclusion a stock market
break forecasts . business depression
in the making. In 1929, to cite a
conspicuous example, the stock mar
ket decline occurred several months
after industrial activity had COM
menced to subside. The stock market
was no barometer of bad business
conditions.
A severe break in stock prices of
course, cannot fail to have some
Evening star., 1937-09-19

(See MARKET, Page C-3)
Evening star., 1937-09-19
BY JOHN H. CLINE.

case of Supreme Court
Justice Hugo L. Black, who
has yet to deny the charge
The Waterbury Democrat., 1937-01-26
Weddings
Local Residents
On Patron List

The ninth annual scholarship
dance of the New Haven Chapter Of
the Albertus Magnus College Alum
nae Association to be held in the
New Haven Lawn club on Febru-
airy 8, is to be sponsored by the
following friends Of the college:
Mayor and Mrs. John Murphy, Mr..
and Mrs. David Fitzgerald, MFR. and
Mrs. Walter Malley, Mr.. and Mrs.
Wallace Malley, Mr.. and Mrs. John
McKeon. Rev. T. Lawrason Riggs,
Mr.. and Mrs. Bancel LaFarge,
Mr.. and Mrs. Frank Bergin. Mrs.
Marcella Boveri, John j. Fitzger-
aid, Miss Mary Jordan, Miss Anna
Sheeban, Miss Lila Sheehan, Prof.
and Mrs. Edward 8. Moves, Mr.. and
Mrs. Orlando Pelliccia, Mr.. and Mrs.
John Golden, DR.. Grace Pickford,
Prof. and Mrs. Benjamin Nangle,
Michael Mccain, Prof. and Mrs.
John Archer Gee, all Of New Haven;
and Mr.. and Mrs. Frank II. Lee of
Danbury; Mr.. and Mrs. Frank p.
McEvoy of Waterbury; William
Brosmith Of Hartford and DIR. and
Mrs. Nicholas Mosley Of Meriden.
Mr.. and Mrs. Walter Enhardt OF
Brooklyn, N. Y, have been spending
a few days as the guests OF Mr..
and Mrs. Francis Wilson OF West
Main street.
The Waterbury Democrat., 1937-01-26
Personal.
st: Mary's Hospital Aid
Society Reflects Officers

Members Of st. M&ry's Hospital
Aid association reelected Mrs. JO-
seph Il. Mcdinniss to the presidency
Of the organization at the annual
meeting at the nurses home on
South Elm street yesterday after
noon. Other officers for 1895 were
also named to serve another term
The annual silver tea and bridge
will be held by the group st
Patrick's day and early arrange
inentS for the gathering were made
Other programs and activities were
discussed including the annual
membership drive which will open
in q few weeks.
The association will continue To
make garments for the use Of the
hospital, with sewing meetings be-
ing held each Thursday afternoon
Mrs. Henry Hayden, chairman OF
the activities committee, isin charge
Of this program.
The slate of officers Is as follows:
President, Mrs. Joseph Mcdinniss;
LIST vice-president, Mrs. Raymond
Quinn; End vice-president, Mrs. M
j. DAILY; Bird vice-president, Mrs
Thomas Kelly; recording secretary
Miss Catherine Maloney; financial
secretary, Mrs. Henry Hayden; gen.
eral chairman activities, Mrs. Henry
Hayden; treasurer, Mrs. Frank Nc
Evoy and chaplain, Rev. J. T. Con-
nor.
The board Of directors includes
the following members from the va
rious parishes of the city: Mrs.
Charles Audet, Mrs. Edgar Adams,
Mrs. Louis Thibault, OF st. AIMS:
The Waterbury Democrat., 1937-01-26

spades, South took stock OF his re-
sources. He could count II tricks in
top cards without taking q finesese,
but he had to develop an additional
low card trick in some suit. Obvious
ly none was available in spades.
hearts, or clubs. Only the diamond
suit remained.
II the diamonds we're divided
three in each hand, the hand would
be made automatically, as the long
diamond would be established in de-
clarer's hand. This distribution could
take care of itself.
Other distributions would have to
be considered, however, such as a
singleton honor In either opponents
hand, which would make O first
The Waterbury Democrat., 1937-01-26
CONTRACT BRIDGE
By WIN. e. MCKINNEY
Secretary Of the American Bridge League

Gets That Extra Trick Decarer Figures Most Favorable
Chance in Play of Suit to Make Small
Slam Contract
The Waterbury Democrat., 1937-01-26

| Mrs. J. A. Bronsky, Mrs. B. H. Fitz-
patrick, Mrs. r. r. Guilfoile, Mrs.
Arthur Mcdonald, Mrs. Charles
O'Connor, Mrs. Frederick Stephens
and Mrs. Thomas Tobin Of the
Blessed Sacrament; Mrs. Frank
Floto, Mrs. Robert Herr and Mrs.
John Herman Of st. Cecilia,s: Mrs.
Daniel Campion, Mrs. Esther Ken
nedy, Miss Mary Kennedy, Mrs.
Sara Morris, Mrs. Patrick Mullen,
Miss Bessie Shea Of st. Francis
Xavier's; Mrs. Frank Bowes, Mrs.
John Brophy, Mrs. Thomas Dona-
hue, Mrs. M. J. Lawlor, Mrs. Frank
Mahan, Mrs. M. J. O'Connell, Miss
Julia guile, Mrs. Margaret Ryder
and Mrs. Thomas Shanahan of the
Immaculate Conception; Mrs. Frank
Hill and Mrs. 8. Samaris OF st. Jo-
seph's.
Mrs. James Bolan, Mrs. Robert
Bolan, Mrs. Thomas Delaney, Mrs
John Dillon, Mrs. John Egan, Mrs
Edward Godfrey, Mrs. Patrick
Healey, Mrs. John Hennessey, Mrs.
Joseph Hosey, Mrs. Andrew jackson,
Miss Katherine jackson, Mrs. T..
Frank Phelan, Mrs. Clara Russell Of
st. Margaret's; Mrs. James DAN
drea and Mrs. Anthony Masonic Of
Our Lady Of Lourdes; Mrs. M.
D'Ambrosi, Mrs. Michael Croce, Mrs.
Ralph DeVito Of Our Lady Of Mount
Carmel; Miss Helen Devine, Mrs.
Patrick Dunn, Mrs. John Dunphy,
Mrs. Peter FitzHenry, Mrs. Thomas
Fitzmaurice and Mrs. james A..
Phelan OF st. Patrick's.
Miss Ann Gordon, Mrs. Joseph
Phelan, Mrs. J. Ring, Mrs. Alfred
Wolfe and Miss Florence Cassidy Of
the Sacred Heart; Mrs. George
Bolan, Miss Catherine Burns, Mrs.
Edward Chapman, Miss Catherine
Dalton, Mrs. William Hamilton and
Mrs. J. Sullivan Of st. Thomas. Mrs.
Edward Jackson and Mrs. j. v.
Montague Of st. John Of the Cross
In Middlebury; Mrs. T. s. Shields Of
st. Mary Magdalen and MRS. John
M. Lynch and Mrs. g. H. Dittrich
Of st. Michaels.
The Parent Education group of
the A.A.U.W. met yesterday at the
home OF Mrs. Charles Mccarthy
Of Englewood avenue. Mrs. Clarence
l.. Tappin, leader Of the group, read
q paper entitled, "Adolescents at
Home" The next meeting will be
held at the home Of Mrs. Francis
Carlin Of Fairlawn avenue. Mrs.
Clifford Herbst will submit the sub
ject at the next meeting. Among
the attendance were Mrs. Earl
Smithies, Mrs. Clifford Herbst, Mrs.
r. o. Mills, Mrs. Cornelius Maloney,
Mrs. Paul Peterson, Mrs. Francis
Carlin, Mrs. Clarence Tappin and
Mrs. Charles Mccarthy.
The Waterbury Democrat., 1937-01-26

When South say his dummy and
realized that he had TO take IL Of
10 tricks, he was glad that he had
taken some time in his bridge re-
searches to look into the arithmetic
Of the game. This is an important
aspect Of bridge, particularly in the
play Of a suit about which nothing
has been disclosed, either by bid
or lead by the adversaries.
Today's hand presents a prob
lem which deals with the matter OF
mathematical chance. If one player
holds four cards Of a suit, including
both the missing honors, the neces-
sary play will not work; but the
chances In its favor are greater than
any other play that declarer has at
his disposal.
When West opened the queen of
The Waterbury Democrat., 1937-01-26
Contract Bridge
CORNELL CONTRACT CLUB

CORNELL CONTRACT CLUB
Top scorers in the Monday after
noon session Of the Cornell Con-
tract Club conducted by Mrs. John
G. Moriarty were: Mrs. George
Bolan and Mrs. Clifford Petitjean
119h; Mrs. Abraham Hengeveld
and Mrs. Charles Velte, 116; and
1rast and West: Mrs. Charles Mac
Burney and Mrs. James Abercrom-
bic, 1861 Mrs. John Murphy and
Mrs. Eugene Doherty, 100.
The standing to date Is as fol-
,,ws: Hurlburt- Phelan, 226h; Col
lins- Doherty and MacBurney-
Abercrombie, 2l6; and Shea-Stone
214h.
ELTON CONTRACT CLUB
The second session of the Elton
Contract club championship was
held last evening under the direc-
ton of Mrs william Sherman
Smith. Top scorers were: North and
South-Mrs. e. r. Wolfe and Mrs.
w. s. Smith, 129; Walter Geraghty
and Herbert Root, 1923 1-2; Arthur
Weckler and Herman Rehm, 1873;
Frederick Strong and Robert Fem,
1872: and East and West-Mrs. Ruth
Hurlburt and Mrs. F. Hall Hatley,
1877 10; DR.. e. r. Wolfe and w. s.
Smith, 1928 10; Kenneth Smith and
Miss Bertha Carlin 1873; Helen Des-
soteaux and Mrs. II. j. Stettbacher
122 IL.
The regular weekly evening session
will be held on Friday evening.
The Waterbury Democrat., 1937-01-26
Couple rendered
Anniversary Part,

Neighbzors and friends Of Mr.. and
Mrs. Hector LaRiviere of Meriden
road surprised them recently by
giving a spaghetti dinner to honor
them on their ninth wedding ami
versary. The honored couple re-
ceived many beautiful gifts from
those who gathered TO honor them
Dancing and other games were en-
joyed.
Those present included: Mr.. and
Mrs. Francis Synott, Mr.. and Mrs
Clarence Petruskan, Mr.. and Mrs
Frank McWeeney, Mr.. and Mrs. AL
fred Modem, Mr.. and Mrs. George
Anderson, Mr.. and Mrs. Henry
Saunders, Mr.. and Mrs. Elem Ball
Mr.. and Mrs. Hector LeRiviere, Mr.
and Mrs. Charles Bentley, Mrs
Maude Leach, Miss Arlene Flam-
mia, Alfred LaRiviere, Raymond
Charboneau, Carl Dynsle.
The Waterbury Democrat., 1937-01-26

completed under the Craftsmanship
Of Miss Bernardine Suprenant who
has been assisted by Miss Lillian
Barbara and Miss Barbara White.
Working on the ticket committee
are the Misses Ruth Keavney, Dor
othy Richman, Mary Mungavin and
Alice Pacowsklky. Miss Doris Braun
Is chairman Of the publicity COM
mittee, assisted by the Misses Dor
othy Clark, Vita Van Duyne and
Ruth Stroberg.
A dance sponsored by the alum
nae association OF the College Of
New Rochelle, will be given by the
senior class for the benefit OF the
Library Building Fund of the COL
lege next Friday night in the grand
ballroom Of the Hotel Roosevelt
Miss Mary McManus Of New Ro-
chelle Is general chairman. Menu
bers Of the board Of directors of
the association who will act as
chap"rones are the Misses Mary
Shaughnessy of Tarrytown, N. Y
president of the Alumnae ASsocia-
ton; Lillian Morris Of Holyoke,
Mass, executive secretary of the
alumnae; Katherine Broderick OF
Greenwich, Conn, Rita Murphy
Of New York City.
The Waterbury Democrat., 1937-01-26
SOCIAL ACTIVITIES
OuOtaCIubsE Elect
Local Chairman

Miss Mary Hennessey Of Hillside
avenue, q former president Of the
Waterbury Quota club, was named
permanent chairman Of the Quota
organization committee at its first
meeting held Sunday following
luncheon at the StratfieId hotel In
Bridgeport. Mrs. Olga Larson of
New Haven, dean Of Junior high
school, was named secretary. Miss
Winifred Gregg, a former presi-
dent Of the Bridgeport Quota club,
was appointed q member Of the
committee.
The group has been organized to
promote the extension of Quota
clubs throughout Connecticut and
New York state and plans were
discussed for the formation of
branches in Bristol, Meriden and
Danbury, also Newburg and AL
bany, N. Y.
Others attending the session
were Edna M. Crandall Of New
Haven, district governor; Ellen M.
Bray Of Torrington, Catherine Con-
nelly, Mary G. Peyton and Corine
Davidson Of Norwalk and Miss Jen-
ME M. O'Neill Of Middlebury.