davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1938-05-28
About Four and One-half

About Four and One-haR
FurlOngS
Edith Walker Palumbo) :. ia
2-Blue Prelude (Berg). 49,. Ill
3-Take Off (Machado). 80. 11A
May Nay tRoot) 49,. Jos
5-Quick Vine tTerhune) .,.. h2
Good Wine fIackerl 100
Shaggy onn (Garrett) :. III
Handicapper's choice: Edith
Walker, Blue Prelude, Shaggy
Ann.
SECOND RACE
. Five FurlOngs
l-Elizbth, Farley (ShankS) ITO
miss Patches oGaither) ITO
Sweet Lacruse Root) 80. lis
4-Justa Jimmie (Machado) .115
5-Bursting Palumbo) ITO
6-Mabel Beyond (Berg) .... ITO
7-Veritas (Kilgore). ...."..110
s-Royal Folly Hacker). los
Handicappers Choice: Veritas,
Royal Folly, Mabel Beyond.
THIRD RACE
About Seven FurlOngs
Viva Pete (B. Hacker) -. 113
2-Bynums Run &c. Kilgore1 1lS
3-Pantry T.. Machado) 80. los
Great Gun "a. Gaither) =. 1lS
(P. Callahan) -. 11S
6-Fleurs-de-lite (R. Root) p. Ito
7-Counsellor Billy (Terhune) 11s
s-Tetra Domino (E. JoneO. 118
Handicappers Choice: Bynums
Run, Great Gun, Viva Pete.
FOURTH RACE
Six and One-Half FurlOngS
1-Kaleida Is. Palumbo) -. .112
2-Shanteb &C. Longa) ......1 12
3-Ithacan Up. Callahan) -. liz
Famous Clayton (Gaither) lit
5-Whiskora (E. Kilgore) -. .112
6-Fools Folly IT. Hayden .112
7-Strapol Il. Machado) -. .112
8-Fife (B. Hackerl .....:.. lot
Handicappers, Choice: Fife.
Shanteb, Whiskora.
FIFTH RACE
Five FurlOngS
1-Ivonia (Hacker) .....". lis
.2-War Tale (Gaither) ..... lis
3-Chief Deputy (HowelD -. ITO
Miss Bones (Garrett) 80. los
5-Kenner (MacliadO ..... us
The Washington times., 1938-05-28
WAR SECRETS
STOLEN FROM
ARMY AND Navy
Indictments Due in
5-MOnth Probe !
BY ROBERT G.. NIXON
Copyright, 1898. by 1nterna tiouaI
News Service.)

ANOpyIlbuIg 1900 Uy AhtSbhah AOAos
News service.)
The most far flung foreign
espionage ring since World War
days has been uncovered by the
American Government, it was
learned today.
A five4month investigation, in
which the full forces of the De-
partment of Justice have been
brought to bear in cooperation
with the Army and Navy In
telligence branches, has disclosed
that certain foreign governments
have been Systematically seeking
to gain Americas vital defense
secrets.
SECRETS OBTAINED
Several Of the latest and most
secret Army and Navy defense de.
velopments have been obtained
by the spy ring, it was aScertained.
The discovery that foreign
government possessed one Of these
secret processes was instrumental
in leading to discovery OF the
espionage group.
The Washington times., 1938-05-28

The spy ring probe was in
stituted as the year opened and
has conferred in New York city.
Various phases of the inquiry have
been reported by New York news
papers, but it was not until today
that the full scope and signifi-
canoe of the espionage and the
Continued on Page 2, Col. p
The Washington times., 1938-05-28
LOST

BRINDLE BULLDoG-Large, male: long
tail: Bozo: head mostly white AT. 1854.
POCRETBOOK lost in Bond Bldg. Keep
money, return contents. Call MA. ORA
$50 REWARD
diamond. gold and plat
mum setting. lost Sunday. May 90, at
MeSley Hotel, New Market. Nd: valued az
keepsake. Please return to 3S1S Hunting.
ton St., Chevy Chase. D. c. CLevs. 0449.
(Other Lost and Found Ads on
Page 8, Col. 81
The Washington times., 1938-05-28
INVESTIGATE

Today's Real Estate Oppor-
tunities in Herald and Times
Classified columns and see
how easy it is to use your
rent money to purchase a
home you'll be proud to own.
If you have a home to sell,
your ad in the Classified
columns of these two great
papers has the greatest
reader audience in Washing
ton you pay only one
price.
The Washington times., 1938-05-28
REP. O'CONNELL
PLANS TO ASK
ROOSEVELT AID

Charging he was elected by au-
thorities from Jersey City last
night and his wife knocked down
ana injured by two policemen,
Representative Jerry O'Connen
CD, Of Montana, today planned
to appeal to President Roosevelt
to intervene and halt what he
contends are violations OF the
constitutional rights of citizens
by the Hague regime.
Mrs, O'Connell, who said her
knees and legs were cut and
bruised and that she had a cut
over one eye, remained in bed
today following what she de-
scribed as brutal attack by two
uniformed policemen as her hus-
band was barred from speaking
to a crowd Of some $4,000 in
Pershing Stadium.
CLAIMS BADGERNG
Seized by a group Of officers,
Representative o'Connell wa
taken to police headquarters
where, he charges, he was treated
very brutally" and badgered with
questions, then escorted to the
railroad station and placed on a
train. .-.
O'Connell asserted that at the
station a violent antiSemitic atti-
tude was shown. and that Police
Chief Harry walsh and Capt. VII
liam v. Mclaughlin told him:
'It was just Jews that brought
you here. Most Of the people
behind this agitation are Jews.
(Coutinhed ON Page 2, Col. 81
The Washington times., 1938-05-28
3 Dead in Crash
OF German Plane

BERLIN. May % Q.NSJ.
Three persons were listed as dead
today after a German mail plane
crashed into the water off the
East Tristan Islands in the North
Sea while making a test flight.
The Washington times., 1938-05-28

SACK Low (Shanks), ..... lis
Forget Not (Kilgore) ..... lis
S-MiSs Toucan CTerhune). 10
Handicapper's choice: Kenner,
Forget Not, Miss Toucan.
/. SIXTH RACE
Six and q Half FurIOngs
1-Disown tTerhune) ....,. '102
2 aTeddys Star (Machado) i1s
3 Sylvia G. (Garrett) ....... 100
4-aFrank Brooke (Machado) 100
5-James A. Berg) ......... 121
6-My Surprise (Hacker) 80. 104
7-Idyllic Roct).. LOT
aMrs. K. N. Gilpin entry.
Handicapper's choice: Teddy'S
Star, James A., Idyllic.
SEVENTH RACE
Mile and a Sixteenth
Smear (Terhune) ........ 1l2
Queen Elizabeth (Scocca) 100
3-Early Broom (Palumbo) Ill
4Ardor Root) ............ liz
5-Chatterdoo (Gaither) 80. 118
6-James Boy (Kilgore) ....... 116
Shot Up (Berg) ......... 119
Handicappers choice: Shot Up,
Chatterdoo. and Early Broom.
EIGHTH RACE
One Mile and a Sixteenth
APATHY ID. Scocca) 49,. 1l2
2-Jim Brown q. Brooks 116
Sold Field g.. HowelD ..... lot
HHuppy "a. Gather. ..... 116
5-Mamuck q. Shanks) ..... III
6-Never Idol (B. Hacker) -. 102
7-Petee Lad Is. Palumbo). 116
S-Abbots Last &c. Kilgore). lot
Handicapper's Choice -Petee
Lad, Mamuck, Huppy.
The Washington times., 1938-05-28
OFFICIAL PROGRAM
AT CHARLES TOWN

WEATHER, CLEAR; TRACK, SLOPPY
G TaoI- lyeN
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Voted No
On Motion to Lay
Aside Wagner Bill

WASHINGTON, D. c., Feb. 28-
If actions speak as loud as words,
Senator Henrik Shipstead was
against the passage of the Wagner
Van Mugs anti-lynch bill. He was
among the 46 senators who voted
against cloture at the last attempt
to invoke it and he voted to lay
aside the bill after the cloture
failed of passage. Senator Lundeen
voted twice against the move to
shelve the bill and once against
cloture. At the second cloture vote
he was absent. -.
Voters will presume that Lun-
deem would have voted for the pas
sage of the bill if it had reached
a vote but would not vote to close
debate and force a vote. From
Shipstead's vote it will be pre-
sumed that he was not for the bill.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Catholic Men
OF Minneapolis
Form Society
SOCIETY OF BLESSED MARTIN
DE PORES FORMED

A group of Minneapolis Catholic
men of Minneapolis met on Febru-
airy 20 at the home of T. Miller, 514
Lyndale Avenue No., and formed
the Society of Blessed Martin de
PORES.
A permanent organization with
its officers was perfected. The or
ganization has for its objects,
emulation of the life of Blessed
Martin de PORES; Catholic action;
to acquaint its members thorough
ly with the teachings and doctrines
of the Catholic church.
Officers of the Society are: R. A.
Skinner, president; T. Washington,
secretary; T, Miller, financial sec
rotary; and Rev. L. Hirman, Spir-
itual Director.
Martin de PORES, Negro, Mr..
Skinner said, was a Dominican lay
brother, and because of his sanity
life, his unselfshness, his outstand-
ing Christian charity, the Church,
upon authentic proof of his whole
life and conduct, called him Blessed
and halls him as the Patron of So
cial Justice.
Steps are now being taken, Mr..
Skinner added, as prescribed by the
Church, to elevate him to the high
rank of the Sainthood.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Mass Meeting to Hear
Problems of Sumner
Field Development
Sumner Field
Housing Mass
Meeting Mar. s

The attention of the Minneapolis
public is most earnestly invited to
the mass meeting arranged by a
volunteer citizens committee to be
held at q P. M. Sunday, March
9Th.
This meeting will discuss a num-
Der of embarrassing questions con-
corning the Sumner Field Housing
Project to be completed this sum-
mer.
A larger committee will be
formed for the purpose of clarity
ing these moot inquiries for Min
neapolis citizens, and more particu-
larly for those citizens who desire
to locate in this area when the de-
velopment shall be completed.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Much Interest Noted
in Annual Search for
Towns Popular Girl

The Twin City Popularity Con-
test, sponsored by the Minneapolis
Socialites> for the benefit of the
Phyllis Wheatley Camp Fund, is
getting under way with entries
coming in daily. The deadline is
midnight, Monday, March z. All
entries must be in by that time or
postmarked before midnight. Any
girl not having an entry blank may
obtain one from the Halle @.
Brown House in st. Paul or the
Phyllis Wheatley House in Mime
apolis.
Although only one entry has
been received from st. Paul, more
are expected. The Halle @.
Brown House is cooperating with
the Socialites in permitting all St.
Paul entries to turn in their money
there every Monday evening be-
tween the hours of eight and ten.
This will save the st. Paul girls
any added expense. Several en-
tries from Minneapolis girls have
been received. A complete list of
entries will be published later.
The contest will officially begin
Saturday, March IL, at which time
each girl will receive her votes to
sell. A group picture will be taken
of all the contestants on this date
and published in a later issue of
this newspaper.
Again let me urge you," states
Miss Carter, Secretary of the So
cialites, ito get your entry in early,
in order to enable US to get your
name on the list for next weeks
publication"
The Socialites urge CLUBS,
lodges and other organizations:
Let's get behind these girls! They
are working hard for a good cause
and they need your help!"
After Monday, March z, a COM
plete list of entries will be ready.
Support one Of these girls!
WATCH THIS PAPER FOR
FURTHER DEVELOPMENTS OF
THE CONTEST!
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Walters School
Is Mpls. Urban
League Project
URBAN LEAGUE ESTABLISHES
WATERS TRAINING CLASS

The Educational Committee of
the Minneapolis Urban League of
which Miss Katherine NJ. Kohler is
chairman, has succeeded in the es-
Enlistment of training course
for walters at Miller Vocational
School. A. B. Cassium, business
agent of Walters Union Local GA,
who has been interested in such a
training unit for a number of years,
has been recommended by the
League to instruct the group and
will be certified by the State De-
partment of Education.
This course is designed to meet
the demand for better trained
walters in Twin City hotels and to
equip more local young men to
qualify for dining service.
On matters pertaining to organ
ization and material for the course
Mr.. Cassius will have the assist
ance of an advisory committee
composed of Miss Katherine M.
Kohler, Warren Wells Fisk, Miss
P. Wollan, board members; Miss
Elizabeth Fish of Miller Vocation
al School, and Chas. w. Washing
ton, Urban League secretary.
Officials Of the Curtis Hotel,
Minneapolis, have endorsed the
project and are cooperating to the
extent of providing apprenticeship
training facilities to those pursu-
ing the course. Thirty young men
have registered and an average of
twenty are attending classes. The
success of this initial effort viii
determine whether or not such a.
class viii become an established
unit at Miller Vocational School.
Local dining-car superintendent
will be approached regarding stu
dent trips and employment of those
who complete the course.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04

President of the Liberty Indus
trial Life Insurance company, 1O5
Pythian Temple, New Orleans, La,
who was highly commended at the
annual meeting of the company re-
Gently, for gains made during '37.
The Liberty issued its first policy
on October IL, 1920, and up to De-
cember 81, last, had paid death and
relief claims, and salaries to $50
employees, in the sum of $3,031,-
6O6.58. Branch offices are main
tanned at Shreveport, Alexandria,
Lake Charles, Baton Rouge, Frank
lin, and Tallulah, La. -(Calvin
Service.)
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Youths ALI
Set for Mill
City COnfab

Plans are complete for the First
Minneapolis Negro Youth Con-
ference which is to be held Satur-
day, March 9Th, at the Phyllis
Wheatley House. The committee
has invited two delegates from each
youth club to discuss problems con-
fronting Negro Youth in our city.
They have also invited all the youth
of the city to come and participate.
Some of the interesting speakers
who will address the conference are
Henry Anderson of the N. Y. A.
office, who will speak on education;
DR.. Glenn Clark of Manchester Col
lege, who will speak on Christian
Patriotism; Jacob Mirviss, Execu-
tive Director of Emanuel Cohen
Center, who will give his views on
Race Relations; Topic chosen from
the Marriage Clinic-speaker, Mrs.
F. G. Atkinson, prominent officer of
the Minneapolis Birth Control
League.
The Youth Committee promises
everyone good and well spent
time.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Attacks Annual
Member Drive
Begins March Is


The Annual Membership Cam
paign of the Crispus Attacks Home
Association will start March Is and
end June FL. Mrs. Hazeldel War
ricks is chairman. The goal this
year is $4,000 and the workers are
determined to Ego over the top"
with the help and cooperation of
members and friends. Individual
memberships are one dollar per
year, and organizations are re-
quested to contribute five dollars
or more per year. A tea at the
Home on Sunday, June 10, will
close the drive.
The city has been divided into
four districts for the securing of
renewals and new members, with
Rondo and Dale streets the divid-
ing line between north and south
and east and west. Captains of
the districts are: Mrs. Anna Scrog-
gins, south of Rondo and east of
Dale; Mrs. Roberta Tyler, north of
Rondo and east of Dale; Mrs. Bet
tie Jones, north of Rondo and west
of Dale, and Mrs. Hazeldel War
ricks, south of Rondo and west of
Dale.
The burning of the mortgage of
Crispus Attacks Home, 469 Col
Inns street, on Sunday, March IS,
at 4:3O P. NJ, will be the occasion
for a celebration program. The
public is cordially invited.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04

A. Phillip Randolph of New York
City, president of the International
Brotherhood of Sleeping Car Port
ers, accompanied by M. P. Webster,
Chicago, International LIST Vice
president, arrived in Minneapolis
Monday for a conference with the
500 Line R. R.
It is understood the conference
concerns the sleeping car men en-
ployed by the 500 Line. Recently
this group of men left Local 514,
the organization of 500 Line cooks,
walters and porters, to join the
B. S. C. P.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Buys Car from
Wrong Man

Oliver Thornton, Minneapolis
man, paid a white man two weeks
ago $31 for an auto. When he went
to get the cars registration card
from the salesman it was refused.
When Mr.. Thornton had the auto
seller arrested it was found that
the man who sold the car did not
own it. Now police have lodged the
enterprising salesman in Jail and
Mr.. Thornton has neither his car
nor his $31.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
SIXTH VOCATIONAL OPPOR-
TUNITY CAMPAIGN

The Sixth Vocational Opportuni-
ty Campaign sponsored by the Ma
tional Urban League will be held
during the week of March 20 to q.
The purpose of this program is to
encourage our youth to train and
prepare for the jobs of tomorrow.
Activities locally will be carried
out under the auspices of the Edu-
cational Committee of the Mime
apois Urban League.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Crowd Attends
MinneSOta-IOWa
Club Carnival

Almost capacity crowd attend
ed the Minnesota-Iowa Clubs first
indoor carnival February % at
Norway Hall, Minneapolis.
Mrs. Ruth Lewis was given the
grand award, a ton of coal. Other
prize winners were Miss Mildred
Shull, Mrs. N. ]. Hunter, and Mrs.
M. Evans.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Mill Citian in
Jail on Hit
Run Charge

Clarence Webb, SIT 18th Ave.
South, is being held in Jail on a
charge of leaving the scene of an
accident. Webb, driving a woman
friends car, collided Monday morn
ing with another auto at Eighth
street and 18th Ave. So. He drove
away from the accident and was
arrested at 18th Ave. South and
Sixth St., after chase by spec
tators and police.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
MRS. CRUMP VISITING
CALIFORNIA

Mrs. Albert Crump, 545 Oliver
St., is spending the winter in Long
Beach, California, visiting relatives
and friends. En- route west Mrs.
Crump stopped for months visit
in Oklahoma. She will return to
st. Paul this spring.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04

a file of important happenings con-
corning Negroes nationally and To-
cally.
Mr.. and Mrs. Jose Sherwood
presented the league with two
books last Thursday.
Clippings are kept from the
Afro American, the Pittsburgh
Courier, and complete file is kept
of the st. Paul Recorder.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
NOlander Elected
Officer in Natl
Retail Group

A. P. Nolander, proprietor of the
Nolander Liquor store, 222 So.
Fourth St., Minneapolis, one Of our
advertisers, was elected fourth
vice president of the National Re
tail Liquor Package Store Associa-
ton at its annual convention held
in Baltimore.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
st. Paul Woman
Victim of Fall
On Icy Street
MRS. BLACK VICTIM OF
ACCIDENT

Mrs. T. B. Black, 673 West Cen
trail, was injured when she fell on
the wet pavement. at Seventh and
Wabasha Saturday afternoon, Feb
ruary 26. Mrs. Black sustained
several bruises and injury to her
right foot and left knee. She is
confined to her home under medi-
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
Went to Town!

Henry Armstrong, featherweight
champion of the world, 1873 pounds
of dynamite, won 5000 Twin City
fight fans by knocking out Charley
Burns, lightweight contender, in
two rounds at the Minneapolis Ar
mory. Details in Jimmy Lees
Spotlight, page 4. This boy Arm
strong can really ego to town" with
his fists.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
HARPOLE APPOINTED
WELFARE DEPARTMENT
RELIEF INVESTIGATOR

Joseph Harpole, 1907 18th Ave.
So, was assigned to the position of
investigator in the Mems Bureau
of the Minneapolis Public Relief
Department, last week.
HarpoIe is married and is a
brother of Ellsworth Harpole, for
mer q. of N. footballer.
His parents are Mr.. and Mrs.
Chas. Phelan, 2s16 10th Ave. So.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04

Mrs. Louise Mayweather, 1915
East Franklin Ave., returned this
week from Davenport, Iowa, to the
bedside of her sister. Upon return
ing home she learned of the death
Of her sister after she left Daven-
port,
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
J. ED. STEWART STILL ILL

]. Ed. Stewart, pioneer Mime
apolitan and Elk, is still i'll at his
home, 2915 Columbus Ave., Mime
apolis.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
st. Paul Urban
League Collects
Negro Literature

The st. Paul Urban League is
establishing a collection Of Negro
literature, books by Negro authors,
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04
RONDO FARMER-LABOR
MEETS SUNDAY

The Rondo division of the Farm
er-Labor Assn win meet Sunday at
A p. m. at Pioneer Hall, 5s8 Rondo
ST., St. Paul.
The meeting viii be open to
members only.
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1938-03-04

Health & Hygiene by DR.. W. D.
Brown.
Here 4 There by the able ". N.
Smith.
Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1938-08-05
Bv DIR. ALVIN e. BELL

The beautiful character who is the
heroine of the Book of Ruth has not
only named this book. but countless
thousands of sweet girl babies thro-
ugh the ages. This is one of the
choicest idyls of all literature; a love
story that has fascinated millions and
lost none of its charm through the
centuries.
A Classic Love Story.
This story is classic among stories
of lovers because it contains the ele-
ments of profound sorrow turned into
great joy; of love overcoming pref
udice; of noble elf-sacrifice richly
rewarded in both hero and heroine; of
true love sanctified by religion; OF
marriage and life happy ever after
ward; and just as the story closes we
catch a glimpse of babys crib, and
hear the sweet music of baby's COO
ing. in whose veins is running the
blood of Israels greatest king, and
of David's greater Son, the Saviour
of both Jew and Moabite. The widow
ed Naomi and Ruth and the noble
Boaz stand out in sharp contrast a
gainst the black background of the
days of the Judges, those bloody. inn
moral, idolatrous days, in which these
noble souls lived in faith and faith
Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1938-08-05
Ban Favored
To Save Fund
For Highways
Daily Dispatch Bureau,
In The Sir Walter Hotel.

Raleigh, Aug. 5.-Opponents of d.
version of highway funds to other
purposes are today pressing their case
for d constitutional amendment which
will forever bar the practice in North
Carolina, cheered by the progress OF
anti-diversion drives in other states
and sections.
The ants are confident they will
get approval for the amendment from
the North Carolina League of NUM-
CAPABILITIES, meeting in Asheville today
and tomorrow. and from the North
Carolina Automobile Dealers Associa-
ton which holds its annual session.
in Greensboro next week. The subject
may be brought before the Assocla-
ton of County Commissioners and the
Sheriffs' Association. though this is
not so certain.
According to survey MADE by the
American petroleum Industries Com
mittee. the trend in an increasing
number of states is toward Adoption
of constitutional amendments banning
diversion. In many other states. too,
the fact of diversion has been stop
ped by legislative enactment, though
there has yet been no amendment 10
the organic law against the practice.
by the end of 1885, Colorado, Kan
sas, Minnesota and Missouri had
Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1938-08-05
$485.OOO.00O

Now of course, as their business in
creases the railroads expenses will
also increase. More men will have to
be put back to work, more money will!
have to be spent on road bed, depots,
ETC., more equipment win have to be
bought. However, big portion of this
$485 100000 should be carried into net
income. The industry's annual deficit
has been running around 100000, 600.
Hence. if all these estimated savings
take place, the carriers should again
be able to pay their bills and meet
the interest on their bonds.
Basis Problems Not Solved.
Therefore, I am hopeful that the
danger Of more railroad receiverships
has gone by for the time being. In
fact, railroad securities may score a
sharper gain in price than any other
group over the next six months. But
do not forget that the above better
ments in the rail situation have not
altered the long-term, underlying pro-
biems of the carriers. For this latter
reason, wise investors are now begin
ming to reduce their railroad hold
ings. Often it is not safe to wait too
long for the anticipated higher prices
Everyone cannot sell at the same
time