davidaulloa/AmericanStories huggingface dataset:
Evening star., 1937-01-05
Committee Backs
Tin Control For
Next Five Years
BY the Associated Press.

oy tLc hocOClhtc0 IAeoos
BRUSSELS. January 5-The Inter-
national Tin Committee today ratified
an agreement extending control and
restriction on tin production for i've
years from January l.
Production quotas for the first quar-
ter of 1887 were fixed at 100 per cent
Of basic tonnages in contrast with los
per cent the last quarter of 1886.
(The international tin restriction
agreement controls production in Bo-
livia, Siam, the Malay States, Neither
lands, India, Nigeria and the Belgian
Congo. Standard tonnages allow a
production of approximately $4,000
tons annually.
(Apparent world consumption of tin
for the IL months ended September 80
was estimated by the International
Tin Research and Development Coun-
Gil at 153,709 tons, while output was
placed at 10000 tons)
Evening star., 1937-01-05
BIC POWER FIRM
ORDERS DIVIDEND
Commonwealth Edison Co.
Votes $1.25 a Share on
Common Stock.

By the Associated Press.
CHICAGO. January S. - Common
wealth Edison Co. directors voted a
dividend of SIPS per share on the cap
ital stock today, an increase of 25
cents a share over the quarterly rate
paid regularly throughout 1885.
However, If the special dividend Of
81 per share paid December Is, 1896,
is taken into consideration, today's
dividend is at the same rate as was
paid last year, the announcement from
the company said.
The SIPS dividend will be payable
February to stockholders Of record
January Is.
Household Finance.
Household Finance Corp. directors
placed the common stock on a 81
annual basis with the declaration Of
quarterly dividend of 81 a share
payable April IS to stockholders of
record March 81. Directors also voted
SLIT share to participating prefer
ence stockholders.
Keystone Steel e. Wire.
Keystone Steel & Wire Co. directors
declared l5-cents-a-shared dividend
on the capital stock, payable February
/ to stockholders of record January
IS. This will bring total dividend
payments thus far during the current
fiscal year, which began last July l,
to $1.15 share.
NEW YORK, January (P-An
extra dividend of so cents a share,
together with the regular quarterly
dividend of 62i2 cents, was announced
today on common stock of Best &
Co., a New York department store.
Both are payable January 81 to hold
ers of record January Is.
Locke Steel Chain.
Directors of the Locke Steel Chain
Co., Bridgeport, Conn, declared an
extra dividend of 10 cents a share
and the regular quarterly dividend of
20 cents on the common stock, pay
able February l to holders of record
January Is.
American Equitable.
A quarterly dividend of 40 cents a
share was declared on stock of tee
American Equitable Assurance Co.,
putting the stock on s1.60 annual
basis, against Sl.20 previously. 1t is
payable January 25 to holders of
record January Is.
Evening star., 1937-01-05
FEDERAL LAND BANKS
NEW YORK January 5 P).-Federal
Land Bank bonds.
FOREIGN MARKETS.

LONDON, January 5 P.-Strength and
activity developed in the late. dealings in
the stock market on renewed buying OF
tobacco. brewing shares and home rails
declined. while transatlantic securities
held steady: Brewing issues were de- de-
would be renewed in the next budget.
PARIS.-Trading was mixed in today's
session of the Bourse and international
shares finished lower. Rentes lost from
25 to IS centimes and Bank Of France
dropped 23O francs. to 7.72O. Royal
Of 113 francs.
Evening star., 1937-01-05
CURB LIST GOES
TOH|GHERLEVELS
Rally Brings Recoveries
Ranging From Fractions
to Two or More.
0y the Associated Press.

03 VIIt 2lSoUCIdltU IItSSs
NEW YORK, January 5.-Taking
its cue from the big board" the
Curb market today ratified into rally
that brought recoveries ranging from
fractions to 2 or more points.
In more active dealings conspicu-
GUS gamers included Commonwealth
Edison, Gulf Oil, Newmont Mining,
Wayne Pump, Niagara Hudson Power,
Consolidated Gas of Baltimore, Elec-
trio Bond g. Share and Lake Shore
Mines.
On relatively small turnovers,
Aluminium Limited got up more than
II points and Aluminium Co. of Amer
lea was ahead nearly 6.
Evening star., 1937-01-05
FOREIGN EXCHANGES.

NEW YORK. January 5 R.-Foreign
exchange mixed: Great Britain in doiars' nnS
4siss: cables: 81 e; 6o:day bills bills 4s9;.: s
E.,nnemana ETaneenDsmsandh aets :abiss ssoeS sse;
free. 1923: registered, 1900; trayel: II ya:
Sweden. s5.35: Denmark. II .95: Finland.
Eli; Switzerland. 22.99: Spain, unauoted;
Portugal, 4.48h; GREECE, ;90A: P9iand'
1896: Czechosloyakia, 3;50A: YussoSsiayyis, sSi VA
mania, Is: Argentina, SO .76n; Brazil.
s.sONn: Toxic, 1888; Shanghst 2s;s5:
treai in New York, 100. .03H:. New York In
Montreal 00.96N. n-Nominal.
Evening star., 1937-01-05
DOLLAR GOES DOWN
IN LONDON DEALINGS
l1 the Associated Press

By the Associated Press.
LONDON, January 5.-The United
States dollar lost Is of cent in
quiet foreign exchange market today.
The closing rate was 4.9l1a to the
pound which compared with the over
night New York rate of 4.90 1916.
French francs finished at los 5-32
francs to the pound against 105.l5 yes
terday.
PARIS, January (P.-Three per
cent rentes, 73 francs 80 centimes; AZ
per cent rentes, 1915.
Exchange on London, 105.15. The
dollar was quoted at 21.38A.
Evening star., 1937-01-05
WOOL PRICES HIGHER
AT AUSTRALIAN SALE
By the Associated Press.

8y the Associated Press.
MELBOURNE, Australia, January s..
Higher prices marked the opening
of the new series wool sale when $500
bales were sold, clearing the entire
offering.
Japan entered the market for the
first time in six months, but American
interests dominated the bidding for
the best woods.
Advances over the closing December
auction prices were: Merino and come
back, 71a to 10 per cent; crossbreds,
S to 712 per cent, and skiritings, 10
per cent.
Evening star., 1937-01-05
THE WEATHER

District of Columbia-Cloudy, prob
ably occasional rain tonight and to-
morrow; warmer tonight, colder tomor-
row and tomorrow night, lowest tenn
perature tonight about 40 degrees;
gentle variable winds, becoming nortn
or northeast tomorrow.
Maryland-Cloudy, probably occa-
sional rain tonight and tomorrow,
changing to snow in extreme west
portion; warmer tonight, colder to-
morrow and tomorrow night.
Virginia-Cloudy. probably occa-
sional rain tonight and tomorrow;
warmer tonight, colder tomorrow after
noon and night.
West Virginia-Rain tonight and
tomorrow, probably changing to snow
tomorrow in north portion; warmer in
east portion tonight, colder tomorrow
and tomorrow night.
River Report.
Potomac and Shenandoah Rivers
muddy today.
Evening star., 1937-01-05
SAFEWAY STORE SALES
CLIMB 1913 PER CENT
Ey the Associated Press.

Ey the Associated Press.
NEW YORK, January 5.-Safeway
Stores System, operating on the Pa
cific Coast and in other sections, re-
ported for four weeks ended December
26 sales of s27,40O, ,666. compared with
24,724,486 in the similar period last
year. an increase of 1913 per cent.
For So weeks ended December 26. sales
were $340,024,344, against $293 3,5S4,-
404, a gain of 1873 per cent.
Evening star., 1937-01-05
U. s. TREASURY POSITION.
BY the Associated Press.

The pestiSa q ths Trsssgsy .TSssa1- DssT
ssr tsres. 81 siss4s 4s6ssoi: Balance. $500
$$$s eSy sa;ssps ssS - receipts for the
RssRssss 5S5 tss sea exyusndta4es ysard tSase ss
552. 500. 1851 dncluding S1,425,965,-
S30,74 Of emergency expsndituresD ex.
gross debt. S34. .4O6 81 @. .96I. SO. = decrease
Of S943.69325 under the previous. day:
gold assets. S11.257. .5S1 .562. 80. including
S2649S 144.23 of inactive gold.
Evening star., 1937-01-05
NEW YORK PRODUCE.

NEW YORK. January R.--Eggs;
20.679. unsettled. Mixed colors: Special
packs, 291aa2gA; standards. 29a29A;
27; undergrades unauoted: refrigerators.
nrsts. 26Ma27; other mixed colors un-
Butter, 1886; firmer.. Creamery.
higher than extra. 354a36h; extra t92
ssMa3SM; seconds sso sas. ts4-s7 scores). 32aSS;
Cheese. 255.e77: frm and unchanged.
Live poultry steady to easy. By freight.
Rocks, 13aI5: LeRhorn. 12a13; fowl. col
ored 21a23; Leghorn. 15a17; roosters,
12; turkeys, 15a22: ducks. 14a16.
Evening star., 1937-01-05
METAL MARKET.

NEW. YORK, January 5. lP.-copper
export IL IS. Tin easier; spot and nearby
50.90-51 90: future; 50.15-s5. Lead
steady; spot New York. 8 6.00a605: East St
Louis. 5.S5. Zinc firm: East St. Louis spot,
55: future sos. Iron. aluminium. anti
mony. quicksilver. platinum and wolframite
UNCHANGED
Evening star., 1937-01-05
u. S. TREASURY NOTES.
(Reported by Chas. D. Barney & CO.
Rate Maturity Bid Offer.
125 TONS OF LEAD SOLD.

NEW YORK, January P)-The
st. Joseph Lead Co. reports that 125
tons Of pig lead from Southeast Mis-
souri, mines were sold yesterday at
$5.85 per hundred pounds, st. Louis.
Evening star., 1937-01-05

International Shoe Co.-Common
share earnings, year ended November
80, were 32.52, against $2.56.
Evening star., 1937-01-05
MONTREAL SILVER.

MONTREAL. January 5 R.-Silver fu-
lures opened steady, 10 to. 20 higher.
January, 48 .40b: March. 46.40b; May
640b. Bid.
Evening star., 1937-01-05
RUBBER FUTURES.

NEW YORK January LP,-Crude
rubber futures opened Arm so TO So higher
March. @l15a1S: May. 21.03a06; July.
30. .94a99.
Evening star., 1937-01-05
NEW YORK BANK STOCKS

NEW YORK. January 8 OP-Over-the-
counter market bank and trust companies
opening bid and asked prices:
Evening star., 1937-01-05

BUSINESS LOANS
CLIMB STEADILY
Gain of 249 Millions Shown
in 101 Leading Cities Dur
ing Five Weeks.
BY the Associated Press.

by CEe Associated fIesS
The Federal Reserve Board last
night reported a S249,000,000 upswing
in commercial loans by member banks
in 1O1 leading cities during the five
weeks ended December 80.
These "other" loans. regarded as a
gauge of demand for commercial,
industrial and agricultural credit,
showed a weeks rise of $4,000, 900
to $4,290,0O0,000 on December 80.
This was $3.50, 100000 over the same
week year ago.
The steady December climb indi-
Gated the faster pace Of business
activity was paralleled by increasing
demands for credit.
Coincident with the rise in these
loans, the banks holdings Of securi-
ties other than Government obliga-
tions rose $22,O0O,00O to $3,263, ,000,-
000-$211. 100000 over the same week
of 1895.
Holdings Of both direct and fully
guaranteed Government obligations,
on the other hand, declined S5l ,000,-
900 for the week to $10.479, 100000.
Reserves of the member institutions
with Federal Reserve Banks climbed
S2,OOO,OOO to S5,163, 100000 during the
week, rejecting the seasonal back
flow of money to the banks after
Christmas.
The boards condition statement Of
weekly reporting member banks gave
the following summary of principal
assets and liabilities on December 80,
together with changes for the week
and for the same week last year:
Evening star., 1937-01-05

$736,O14 IN YEAR
Total Compares With Only
$221,215 Recorded for
Previous Year.
By the Associated Press.


CHICAGO, January 5-Celotex
Corp. reported net profit for the fiscal
year ended october 81 Of $736,0l4,
after all charges and normal income
tax provision, equivalent to $2.19 a
common share after preferred divi-
dend requirements.
This period covers the first full
years operation following reorganiza-
ton of the company, which was COM
pleted In 1885. Net profit reported
for the previous year under receiver
ship operations was $221,2l5.
Masonite Corp.
Masonite Corp. reported net profit
of s376,365 for the period from Sep
tember / to December 81. compared
with $271, ,301 the corresponding 1888
period. This was equal. after pre-
ferred stock dividend requirements. to
So cents per share on the common,
giving effect to the two-for-one split
up which was authorized october J..
Earnings in the 1885 period were equal
to 80 cents per common share be-
fore the split-up.
Evening star., 1937-01-05
Report for Last FL Hours.

Record for Last FL Hours.
From noon yesterday to noon todayD
Highest. 43. at $3.50 pm. yesterday.
Year aso As.
81. wv " y '
Evening star., 1937-01-05

Record Temperatures This Year.
Highest. 80, on January 3.
Lowest, 80. on January 5.
Humidity for Last "a Hours.
(From noon yesterday to noon today)
Highest. 12 per cent at 7:30 IN. today.
Lowest, 25 per cent, at 4:l5 pm. yes
terday.
Evening star., 1937-01-05
The Sun and Moon.
le-haIf h0Ur after sunset.

Monthly precipitation in inches in the
Capital current month to date)
Evening star., 1937-01-05
FOREIGN STATIONS.

G. am. Greenwich time, todayO
Temperature. Weathe
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1937-04-09

Sweeping ~ PushUp see SHRED Ye Attractive Tie Necknes!
vue thai you'll long remember received 1000 sT N %
hiOns that will do auHerng things figure Here
Dsup styles tuored models you can weot o
andSu at S2ss
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-08-14

Therefore. we must continue to urge
the passage of road bills.
Gold Price Settled
So far as I could find out from
washington opinion there Is little
chance Of a drop in the domestic price
of silver and even lesser chance OF
a drop in the world or domestic prices
of gold. However, with all the taxes
that a gold and silver miner Is subject
TO he should carefully watch his costs
and grades of ore, as we cannot pass
our taxes on to the consumer as can
the producer of other metals.
We expected to have with us today
some members of the House OF Repre-
sentatives and the United States Sen
ate to discuss these questions. Unfor-
tunately Congress has not adjourned,
so they could not attend.
Department Urged
To take care Of some of our national
questions, we should have a United
States Department OF Mines, under
which should be our present United
states Bureau of Mines. Canada has
a department of mines which CORE
spends to a place in the presidents
cabinet in our country. Why shouldn't
we have a department of mines as
well as a department of agriculture?
Such department could take up our
problems, which now have to be taken
up by our state organizations and the
American Mining congress Such a de-
partment could well cooperate with
the American Mining congress and its
affiliated state organizations.
I mention these problems IN passing,
not only to acquaint you with what
your state organization is doing ana
has done, but also for the bene1lJ OF
the resolutions committee and Tor the
benefit of those who want TO discuss
these questions at this meeting at the
proper time in open forum.
IN closing I want to thank the hard
working secretary of this organization,
Mr.. Frederick G. Gilbert, and Dr.
Francis A. Thomson, head of our exec
utive committee, for the time and funds
they have given to promote our prog
ress. Not only have they funct1oned In
the economic division of this organl-
cation blIt also in the technical and
scientific division through the State
School Of Mines, the Montana Bureau
of Mines and Geology, the state plan
ming board and otherwise. We still
have many technical and scientific
problems to be developed and our or
ganization has among its members the
will and ability to solve these problems.
/ also desire TO thank Mr. Stanley II.
Moore for his services as wee pres
ident during the past year.
The officers Of this organization also
highly appreciate the SERVES rendered
bv its committees and general mem
bership. They are the soldiers in our
army to fight for our detectives. It
IS the soldiers and not the generals
who have won all Of our wars, civic
and military. Therefore, soldiers Of the
Mining Association of Montana, with
the fighting and cooperative spirit
and courage which you always have
shown, keep up the good work SO that
body's mind that Montana is not only
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-08-14
Bank Buys Site
for New Building

The Helena branch of the Fed
eraI Reserve bank recently pur-
chased a site for construction OF
a new building. Albert A. Hoerf,
cashier and secretary Of the board
~ directors, said the bank had pur-
chased corner property at 2O4 Wesa
Taurence street. He did not d.
vuIge the purchase price, and sala
anuroximate cost Of the new Dulio-
ing had not been estimated.
the present structure. he SAID, mas as
outlived its usefulness on account o.
me inadeouacy Of space to handle the
increased volume Of work OF the COM
naercial banks in Montana that are
members Of the federal reserve system
and fine fiscal agencies Of the UnlUeo
States governmeng. - ro1,s hos
George n. Stanley, Great ta1is, ma
been DESIGNATED as architect 70 oraW
T,lsns for the new bank. He ana II: n
T rs,r managing director OF the hel-
ena branch, are visiting other panks
now preparatory to deciding on the type
Of construction, materials and SIZE.
7 =. O'Connell, Helena, Is cnalrtnaAl
Of the board of directors OF the Helena
branch. and also director OF the req
sral Reserve bank Of MINNEAPOLIS
other directors of the Helena DraIlcn
are A. r. McDermott, Blnings Fegsi
Pauly, Deer Lodge, and H. -. Nay1lcA
Souare Butte.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-08-14

our stocks and bonds in few short
years changed our financial relations
with Europe from that of a debtor to
a creditor nation. Although we accum-
ulated a lot of unpaid obligations In
the process we added over two and one
half billions to our monetary gold
Off Gold standard
During the war England went off
the gold standard, resumed 1t In 1875,
and went off again in 1881, after which
the British pound declined TO very low
levels in terms of the dollar. This
cheapening of the pound sterling slim
ulated British exports and gold prices,
in terms of pounds, rose rapidly. France,
having devalued the franc IN 1925
from 20 cents to about six cents con-
tinued on the gold standard until the
past few months.
BY 1888 it was apparent that the
United States was holding the sack
in international trade. Gold began to
dribbie out. and later gold exports as
sllmed such serious proportions that
it became necessary to follow the LEAD
of England in "suspending" payments
in gold. In January, 1884, the admin
istration inaugurated a policy OF gold
purchases at $35 per ounce, thereby
stabilizing the dollar at 90 percent OF
its former value based on $20.67 per
raise the general price level and so
restore the purchasing power OF the
1 farmers and other producers OF raw
! materials. In a few months prices rose
! about 20 percent, but the direct re-
/ lation between the international Vaiue
of the dollar and the domestlc price
level is still matter OF debate among
Whatever the underlying motives be-
hind the gold purchase policy, there
is no doubt of its favorable e1lecI o.
the cold mining industry on a world
wide scale. It Is certain that wltnoul
a production bonus or an mcreases
price gold production would nave sull A
below the worlds needs, the aodeo COS
~ rnrodncinp cold since the recovery
making It Improbable to mine golo a.
the old price.
AS a result Of the gold policy, golC
has been pouring into the United Sbate'
not only from the increased mime ouk
mt but from gold boards all owe
Europe and Asia. The drain OF ptec
ious metals" to the East, which ma.
been a matter Of concern 70 WeSCeLi
L nations for 300 years, Is now IN re
| verse" At the new value the preSen
gold stock of the United states !
| Somewhat over II billion dollars, ana
has. become necessary to borrow at Tn
rate of 100000 per month. or 81
700 900 annually. This Is admitGedI
more than Is required for monetary o
credit purposes and steps have beel
taken to "sterilize" the excess meta
To avoid an undue expansion OF credit
| 1t is reasonable to conclude that So
for gold is somewhat above the leve
It would seek in the markets OF Tn
world. at least for the time being, whe'
governments in general are unable I
balance their budgets, largely on &C
ments.
In view Of the difficulties In finan
cling Of gold purchases by the Unite
States, Il Is not surprising that riA1.es
would be current, as they have w.
= Uncle Sam would some day a1@AN~
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-08-14

tions were tied to a fixed or standard
unit Of value in gold, the English unit
being l13 grains fine ground gold to the
hound sterling, and the United States
dollar 1922 grains. Thus the normal
was S4.87 to the dollar. In the event
exchange value of the British pound
of excess imports Of goods into the
United States the unfavorable trade
balance was settled by actual shipment
of gold bullion to London and vice
versa in the event Of excess exports
from the United States The gold
Standard was more or less automatic
in controlling prices of commodities
between trading nations, goods moving
from low cost countries TO those Wnere
higher prices prevailed.
1t is generally considered that ma
tions possessing the largest gold stocks
would in consequence be the most
prosperous. Such nations were able TO
maintain sound" currencies, that Is,
the minimum proportion of paper" or
silver, the currency Of the weaker COM
mercial nations
The enormous outlay by the allied
Governments for war materials from
1914 to 1919 wrecked this self regu-
lating system, especially in the United
States. where it had been so ddtlcuit
in wears gone by to establish stable
currency. Indeed, it is safe TO say that
these purchases Of vast quantities OF
war materials, involving the sale OF q
large proportion Of foreign holdings OF
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-08-14

SPEAKING BEFORE the Mining Association of Montana in Vir
Ogna City F. c. Gilbert mining engineer and secretary of the
gave believes there will early lowering
of thhe price of gold He said:
The production and future possibilities for gold
the Virginia City district the closest attention of this meeting
the present gold situation the United States and the world large
purpose the brefest nonchnca
history of gold from monetary standpoint and
why's and wherefores belief that the of $35
will be maintained
Before the World the eurrenees Of the leading commercial
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-08-14
NJ. s. C. AWARDS
40 SCHOLARSHIPS
STUDENTS REQUIRED TO HAVE
AVERAGE STANDING OF 8S
OR ABOVE

Advanced honor scholarships
have been awarded 40 Montana
State college students who fulfilled
scholastic qualifications during the
past college year to become eligible
for the award, according to w. III.
Mccall, registrar. The scholarships
carry exemptions from certain fees
during the coming college year.
To be eligible for the advanced
are that the candidate must have
earned at least 40 credits and have an
average scholastic standing OF 80 or
above during the three quarters OF the
Students awarded scholarships are:
William Alexander, Eva Carlson, Eliz-
abeth CRANE, Butte; George Clemow,
Walter Weedman, Billings; Dorothy
Haverfield, Mary Liquin. Tom Muir
dock, Vesta Robbins, Elise Wipf, Lyle
Miller, Bozeman; Evelyn Haigh, Donald
Scharff, Three Forks; Paul HaTTer,
Robert Tichenor, Belgrade; Ruth Eg-
new, Allan Roush, Hardin; Edwin
Hahn, William Sparing, Jayne futile,
Gertrude Anderson Deer Lodge; ia
net Baker, Superior; Charlotte Benson,
brentwood; Oswald Brownies, Mecca
sin: Kenneth Christian, Charlo; Gyme
English, Plains; Daisy Flick, Duttoni
Mary Ann Flynn, Anaconda; Raymond
Goertz, Roman; Armin Hill, Bottineau,
N. D.: Lambert Hruska, Lew1stown;
Katherine KittreII. Fort Peck; George
I,oomis. Simms; Joseph Mitch, Mis-
souIa.: George Peikert. Buffalo, Mimi;
Everett Peterson, Poplar; George Pet
erson. Waltham; Mark Vanderark,
Manhattan: Ben Veldhuis, Warm
Springs: Peter Wilkie, Rosebud.