davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-01-18
PYARDS FACE
NEW EXPANSION
Both Naval and Merchant
Tonnage Continues to
Boost Activity.
BY the Associated Press.

NEW YORK, Jan. 1s.-With a pood
tonnage backlog representing both
naval and merchant construction, the
American shipbuilding industry Is seen
as favorably placed for another wear
Of expansion.
In the opinion Of marine building
authorities the industrys general out
look is made brighter by the assump-
ton the Federal Government will 90
ahead with its plans for enlargement
OF naval resources. and on the further
assumption a fair part of the new
tonnage will go to the private builders.
At the close of the year American
shipyardS were working on a total of
573.469 tons, which was reported to
be the largest volume since 1922.
Steady Climb Cited.
Merchant tonnage was placed at
around 291 900 gross tons against
$4,000 displacement tons of naval
construction. This business was in
hand following two years of steady
expansion which, according to a sur
vey by Fitch Publishing CO.. set sue
cessive peacetime records in volume
Of tonnage completed.
Builders are seen as having a wide
florizon to scan for new business, TAX
ing in not only prospective plans for
bigger Navy, but also the realm of
the Maritime Commission and its goal
OF a strong merchant marine.
The commission is credited in Ship
building circles with having provided
an important stimulus to active OPERA
tions in the yards with its recently
announced five-year building plan.
AS understood by builders this pro-
gram may add as many as 43 ocean
going passenger and cargo vessels.
with actual construction work on IA 10
be started during 1898. Cost of the
program in its entirety has been esti-
mated at s110.000.000.
Tankers Ordered.
Also listed in the tonnage books are
contracts calling for construction of
II high-speed tankers for Standard
Oil Co. Of New Jersey, under an agree
ment between the company and the
commission. The tankers are to meet
the requirements of the Navy for
auxiliary vessels capable of travelling
with the fleet, the Fitch survey report
ed. Cost of the tankers Is put at
around S37,50OOO0.
The tanker business, Jumped with
an estimate covering bids requested
by the commission for IL cargo YES
sells and the main merchant marine
propect, boosts the new business TO,
the shipyards incident to activities of
the commission to an estimated $751;
566, 900 to date.
Evening star., 1938-01-18
NET Of SOUTHERN
PACIFIC SLUMPS
Months Total at $1,1O7,.
986, Against S6,969, ,486
in Same 1886 Period.
By the Associated Press,

BY the Associated Press.
NEW YORK, Jan. l8.-The South
ern Pacific Co, one OF the first major
roads to report, announced today De-
cember net operating income before
fixed charges and other income was
l,l07 1886, a drop of $5,86l 500 from
$6,969, ,486 in December, 1896:
December gross income totaled sl6.-
468, Sol, against s22, ,459 1854 in the same
month year earlier, decline of S.
99l,353.
Howe Sound Co.
Howe Sound Co.. holding concern
for companies producing silver, lead,
zinc and gold in Washington, British
Columbia and Mexico. reported net
profit after charges for the quarter
ended December 81 of s652888. equal
to 81 80 a share of capital stock, COM
pared with s803,3 1920, or sl.70, in the
comparable 1886 quarter.
Profit for the year 1887, before de-
pletion and Federal surtax, was placed
at s4,753, ,044. equal to $1O.03 a share
against $2,5l8,984, or s5.32 a share, in
1886.
Evening star., 1938-01-18
Substantial Drop
In Assets Shown
By Equity Corp.
BY 1 he Associated Press.

NEW YORK, Jan. 18.-Equity Corp,
an investing company, reported today
net assets on December 81 equal to
$4.833 per $1,000 of assumed deben.
lures and $48.8l per share OF 50 con-
vertible preferred stock, compared
with 1868 for the previous year end
for debentures and sl07.76 for the
preferred.
Since the preferred has $50 per
share preference in liquidation, there
was no asset value for the common
stock as Of December 81 A year ago
the assets figure to 1912 per common
share. AS of September 80. 1897. as
set value was $72.4l on the preferred
and 1922 on the common.
Evening star., 1938-01-18
$2,484,OO4 Loss
In 1897 Revealed
By First Boston
By the Associated Press.


NEW YORK, Jan. l8.-Showing ef-
fects Of the interruption of new
financing and decline in security mar
kets last year, the First Boston Corp,
underwater and distributor of capital
issues, reported today for 1887 net
loss of $2,484, ,004 after taxes, interest
on bank loans and adjustment of the
book value of securities to market
value as of December 81.
Counting a provision of $252, 1000 for
. contingencies charged against earned
surplus. the deficit was 100000
In 1886, with new financing fairly
brisk, the company had net income of
SO 172.35l, equal to s634 a share
on the capital stock. 1t maintains
Offices in leading cities.
Evening star., 1938-01-18
ERIE SECURITIES
HIT BY SELLING
Reorganization Move Also
DepreSses Other Rail
Bonds and Stocks.
By the Associated Press,


NEW YORK, Jan. 18.-More selling
hit the securities of the Erie Railroad
today after the financial district heard
the formal news the directors had
authorized a move to reorganize the
capital structure.
The refunding SIS of 1867 and other
bonds dropped sharply. The market
had been crumbling since the road
defaulted January l interest on half
a dozen issues. The common stock
sank 81 a share to around SO shortly
after the announcement was made
compared with a 1887 peak above s23.
A receivership action had been ex-
pected widely in financial circles since
the default and the refusal of the
Reconstruction Finance Corp to grant
a $4,000 900 loan without a guaran-
tee from the Chesapeake & Ohio, a
key road in the erstwhile Van Swer-
ingen rail empire, of which the Erie
was part
Turning the spotlight on railroad
troubles generally the Erie news also
brought selling into other rail bonds
and stocks.
The business slump last year hit
the carriers after their earning power
already had been curtailed by rising
operating costs. November net in
come of the industry as a whole was
the lowest for any comparable month
since 1919.
Fabled in rail and Wall street spec
ulative history, the Erie's resort 10
the courts for relief from financial
burdens started veterans recalling the
great days of railroading before the
automobile, the airplane and pipe
lines began to cut into traffic.
1t was the first important Eastern
road to join the long depression list
of rail receiverships since the New
York, New Haven g. Hartford filed a
reorganization petition in October,
1885.
Evening star., 1938-01-18
PROTESTED
BY TEXAS PIPE LINE

By the Associated Press.
The Texas Pipe Line Co. protested
today to the Interstate Commerce
Commission against the commissions
valuation OF its properties.
The I. c. c. recently fixed a value
OF s35,647,309 for the company's
properties used for common carrier
purposes. The company said this Is
much less than the true worth. The
/. c. C.'s valuation was as OF De-
cember 81, 1894.
Evening star., 1938-01-18
CHICAGO PRODUCE.

CHICAGO. Jan. 1S IP.-Butter. 510.-
1ol: steady; creamery-extra frsts f9O-9l
Egss. 10. "a: steady: prices unchanged
Poultry; live, 33 trucks: steady: hens:
pounds White Rocks 2.ia; other prices
UNCHANGED.
Dressed market steady. prices un-
changed.
Potatoes. 100; on track 313; total u. g.
shipments $50: supplies rather liberal; old
Northern Stock about Steady steady: demand
slow; sacked. per hundredweiaht. Idaho
Eusset Burbanls: U. s. No. 1. 30 40:
37la-1 so: North Dakota Bliss Triumphs.
go per cent U. g. No. 1 and better 10
l.I5; cobblers. 90 per cent q. 8. No. /.
1.O?h:. Nebraska Bliss Triumphs. 90 per
cent: u s. No /; 1;20; Wisconsin round
Florida Bliss Triumphs, q s. No. i, 80:
y. 8. No. :. 200 = bushel crate
Evening star., 1938-01-18
BOSTON WOOL MARKET.

BOSTON. Jan. 1S R-tUnited States
Department of Agriculture Little ac-
tivity was being reported in the Boston
wool market today. Mills were not buying
On the other hand, there was Eo particu-
lar pressure to sell. In view Of the decline
wool markets since the first OF the year,
reports Of the opening in London were
being awaited with q ereat deal Of interest
BY members Of the Boston trade
Evening star., 1938-01-18
FOREIGN EXCHANGES.

NEW YORK Jan. 1S R.-The franc
slipped lower today in q mixed foreign
It vss. OF .o3 of a cent at 3.34,s cents
around the noon hour; The pound sterling
advanced of . cent to 4.99ia while the
Belgian belea was .0O1a Of q cent higher
and the Netherlands guilder was UP .O3
OF z cent at 55 20; The Swiss franc was
1o5Tasn Ths dollsr q oSi closed % en !: Of a cent in
with e ,99i2 for sterling in New York
the equivalent Of 3.35s cents to the franc,
as against 1875 cents for francs over
night in New York.
Noon rates follow:
cents. Great Britain. demand, 4.9al2;
cables, 4 .a9l3: 6O-day bills. 4.99i.: France,
demand. 3;34h: cables. 3.34h; Italy, de-
mand. 5.:!6A; cables, 5 526A.
Demands: Belgium. 1691H2: Germany,
free. 40;27Aa; registered 2155; travel.
S51b: Holland. 55.70; Norway. 25.11 "a;
Sweden, 25. IS: Denmark. 22.31 "a; Fin
land. 2.22: Switzerland, % O9la; Spain.
unquoted; Portugal. 4.54A; Greece, 92H;
YSS0slsy,s; 5s4S q so $.Ss; 1S;tfis sa!n: Hun
a3.3on: Brazil afreeJ: 5.aon; Toxic. sa.os:
SHANGHAI. 1855: Hong Kong. 81 32;
Mexico City. 27 80: Montreal. in New York,
10000: New York. in Montreal, 10000,
n-Nominal.
Evening star., 1938-01-18

rim bankruptcy or receivership or beins
reorganized under the Bankruptcy Act. or
securities assumed By such comnanies.
are annual disbursements based on the
last quarterly or semi-annual declaration.
Unless otherwise noted special or extra
dividends are not included.
- Also extra or extras. Declared or
paid so far this year. no regular rate.
f.Payable in stock. GPaid last year:
h Cash or stock Accumulated dividend
paid or declared this year. Wv With war
rants XIV Without warrants. war War
rants.
Evening star., 1938-01-18
NEW YORK SUGAR.

NEW YORK. Jan. 1S R-Sugar fu-
ture4 after early easiness induced BY
wan Street LIQUIDATION and local selling.
steadied Just above the lows today
leaving quotations . points net lower in
midafternoon: A. A. A. consumption fie-
ures for 1897 of 6,686.2b7 tons, against
decline than anticipated.
The No. prices we're to 1h points
Evening star., 1938-01-18
CURB LIST TAKES
UNEVEN COURSE
NeWmont, Northern States
Power Orop-Sherwin-
Williams Jumps.
BY the Associated Press.

By the Associated Press.
NEW YORK. Jan. l8.-Prices were
mixed in the curb market today.
Losses of more than q point were
registered in Newmont Mining and
Northern States Power A, and frac-
tional losses were suffered by Amer
ican Cynamid B, Gulf Oil. Creole
Petroleum and Montgomery Ward.
sherwin- Williams was up nearly
three points. Smaller gains were made
by American Gas, Electric Bond g.
Share and st. Regis Paper Co.
Evening star., 1938-01-18
TRAVEL GAIN REPORTED
ON EASTERN AlRLINES
y the Assoeiated Press.

NEW YORK. Jan. 1S.-Eastern
Airlines Division Of North American
Aviation carried 1895 passengers in
December, against sofa during De-
cember, 1896. it was announced today.
Evening star., 1938-01-18
RESERVE NOTES DECLINE.

The Treasury reports SASH ,13S,535
of Federal Reserve notes were In cir
culation on January II, . decrease Of
about so, ,000, 900 since December.
Evening star., 1938-01-18
.ODD.L0T DEALINGS.
BY the Associated Press.

The Securities Commission reported to-
odd-lot dealers or specialists on the New
York Stock Exchange. for January IL:
&l32 purchases involving 200, ,459 shares
6,2t@ sales. involving l40.438 shares.
Evening star., 1938-01-18
INVESTING COMPANIES

NEW YORK. Jan 1S P,.-Nev York
Security Dealers Association:
Moon Quotations
Evening star., 1938-01-18

National Tea Co.-SAles, four weeks
ended December 81, were oil 9.4 per
cent; 50 weeks, OF 0.6 per cent. ,
Evening star., 1938-01-18
y. S. TREASURY NOTES.
NEW YORK, Jan. IA LP,-Prices quoted
In dollars and thirty-seconds;
Approx.
Asked. d.yield.
MONTREAL SILVER.

MONTREAL. Jan. IL DN.-Silyer fu-
lures opened 20 points UP. March. 44.30b.
Evening star., 1938-01-18
$50 TONS OF LEAD SOLD.

NEW YORK. Jan. 18 R.-St. JOS
eph Lead Co. reports $50 tons of pig
lead from Southeast Missouri mines
sold yesterday at $4.75 per 100 pounds,
St Louis
Evening star., 1938-01-18
81 DIVIDEND

tPIus extras ~ extra f2h& extra.
Sl4 extra paid No. 80. 1887 h rs cents
extra, 80 cents extra. N s. extra. s"3O
cents extra paid June "a. 1887.
Evening star., 1938-01-18

ww-With warrants. xw-Without wal
rants New. st (stp)-Stamped
1Nesotiability impaired by maturity
fCompanieS reported in receivership
Evening star., 1938-01-18

Also extra or extras.
eDeclared or paid so FAR this year.
gPaid last year.
Evening star., 1938-01-18
Washington Exchange
SALES.
AFTER CALL.

Potomac Electric Power go pfd.-
5 at 113.
Washington Gas Light pfd.-l0 at 90.
Peoples Drug Stores pfd.-5o at l12.
Evening star., 1938-01-18
INSURANCE STOCKS

NEW YORK Jan. Is lP-Nev yor
SECURITY DealerS' ASsnciafinn
Evening star., 1938-11-21
Artificial Teeth

France is developing an artificial
tooth industry, but finds it difficult
to compete with the high-grade
American product.
Evening star., 1938-11-21
Representutive-EIect
From Arkansas Here
BY the Associated Press.

By the Associated Press.
County Judge Wilbur Mills of
White County, Ark, Representative
elect of the I'd Arkansas dis
trict, came to Washington today
to familiarize himself with his new
duties.
This is my first visit to WASH
ington," he said. LAS congressional
beginner. I'm going to keep my
mouth shut and my eyes and ears
open"
Mr.. Mills appointed Jerry j.
Screeton of Hazen to be his secre-
tary. Mr. Mills will fill the position
vacated by the election of John E.
Miller to the Senate several months
ago. Mr.. Miller accompanied Mr..
Mills to Washington.
Evening star., 1938-11-21

prepared for delivery to the annual
meeting of Baltimore g. Ohio Rail-
road stockholders today, said "Col-
lective bargaining should not be
for the exclusive benefit of organized
labor, as has seemed to be the case, u
adding The time has arrived when
we must have collective bargaining
through organized stockholders.
Addressing the group as Fellow
suffering stockholders" Blackman
declared the selfish demands" OF
organized labor groups" were
steadily forcing the railroads into
bankruptcy"
"The time has come" he said,
when the kholders-about 49,
100000 strong-should use their
combined strength to defend and
protect their investments and call
a halt to the constant unjustifled
attacks and demands on business
Evening star., 1938-11-21

stantly reduced income and steadily
increasing taxes and other expenses. "
Blackman said the present wages
are higher than in 1929, both in
dollars and purchasing power" and
added:
II believe my views can be re-
garded as rejecting the unspoken
convictions of many thousands of
suffering stockholders, who will, in
increasing numbers, demand that
their invested rights be respected
and protected. The only by the
power of organized effort can we
stop the damage being done by self
seeking and strictly selfish organ
lied minority groups"
Evening star., 1938-11-21
and business leaders in general"

anu DuSlucSS lcdQcIS III general.
Noting "B. g. o. stockholders
both common and preferred-have
received no dividends since 1882" he
said, "Our company is being faced
with the necessity of reorganization,
or even bankruptcy, If it cannot get
immediate financial relief"
"Since 1929 railroad traffic and
earnings have suffered sharp de-
clines," he continued. until 1892
there was no reduction In railroad
wages. The 10 ger cent reduction,
agreed upon in that year. was COM
pletely restored by April, 1885. In
1887 railway employees received an
additional wage increase, averag-
ing about per cent. Since this
last increase in railroad wages there
has been a constant struggle on the
part of railroad management to
make ends meet, because of con-
Evening star., 1938-11-21
Chains Handle Crops

NEW YORK, Nov. 10 (SpeciaD
Commenting on the part played by
chain stores in distributing farm
crops, Prof. r. S. Alexander, market
ing expert OF Columbia University,
estimates that food chains alone
purchase 30 per cent of the Nations
entire agricultural output.
Evening star., 1938-11-21
Selfish Rail Labor
Demands Scored al
B. & 0. Meeting
Carriers Being Forced
To Bankruptcy, Says
Investors Leader

By the Associated Press.
BALTIMORE, Nov. AL. New
comb Blackman, New York, vice
president of the American Fedora
ton Of Investors, in an address
Evening star., 1938-01-16
Mrs. Lloyd w. Biddle
To Be HOnOred.

Mrs. Lloyd w. Biddle, president OF
the District of Columbia Federation
Of Woinen's Clubs, will be guest OF
honor at a luncheon sponsored by
the board of the Woman's Clinic
Tuesday, January 25. at the Fairfax
Hotel, at 1890 O'Clock.
Mrs. Howard L. Hodgkins, newly
elected director to the General Fed
Grafton Of Womens Clubs from the
District, heads the list of patronesses
for the affair. These also include
other officers of the local federation
Mrs. Ernest H. Daniel, Mrs Arthur
C. Watkins, Mrs. Charles P. Keyser
Mrs. John D. Kiley and Mrs. Ruth
H. Snodgrass
Mrs. Fred P. Trott. newly elected
president of the clinic board, will head
the receiving line, composed Of Of
ticers Of the board, which include Mrs
Frank A. Birgfeld. Mrs. Frank J
Mann, Mrs. Fl. E. Rogers, Mrs. Edgar
T. Brown and Mrs Snodgrass.
Other patronesses are Miss Grace
Thompson. Mrs. Edwin Kilby, Miss
Laura Berrien. Miss Elaine Eppley
Mrs. Corbin Thompson, Mrs. Lewis
Ditman, Mrs. Calvin Lucas. Mrs. Ver-
non Doane. Mrs. Robert Foster, Mrs
Robert Griffith, Mrs. Preston Holloway
Mrs. Bessie Fisher and Mrs. Harry
Britt.
Evening star., 1938-01-16

help Exchange on Pennsylvania ave-
nue.. near the Georgetown Bridge.
The exchange has grown by strides
since it was started a few months ago
and now has daily clientele of some
thing like IS people day-men and
women who come to find work in which
to pay for the necessities they are in
need Of. The exchange of services
for goods is made through script For
instance II one wants pair of shoes,
a coat or dress, or maybe some food
to take home, he works for it, is paid
in script, and buys the needed article
from the exchange Mrs. Roosevelt paid
the exchange visit recently and came
in so quietly that many were not aware
that the Lady of the Mansion was
there until she had left. As the old
darky says, She has a takin' way
with everybody" Wonderful way of
putting one at his ease.
Mrs. F. Bland Tucker
Sponsors the Exchange.
1t seems that Richmond, Va, has
long had a self-help exchange which
Mrs. Francis Bland Tucker, wife of
the rector of Old St. Johns Church,
Georgetown, had known about, and
thinks wonderful work has been done
down there. Mrs. Tucker ought to
know about that kind Of thing as she
is the daughter of a clergyman and
has been reared in doing practical
charity. In passing: She is the sister,
in-law Of the Right Rev. St. George
Tucker, recently elected Presiding
Bishop Of the Episcopal Church in
America. Mrs. Tucker says it is not
only most satisfying to see the prog
ress of the, new baby exchange, but
it's jolly fun to go there and see how
happy the workers are Miss Sue
Craighill of Georgetown-everybody
knows Miss Sue" is another enthu-
siastic supporter of the exchange. and
much Of the management is left to
Miss Louise Bell. long prominent in
social welfare in the Capital. The
children at the exchange watch for
Mrs. Morgenthau's visits. however, for
she's a reglar fellow when it comes
to playing games.
Evening star., 1938-01-16

OF the opposition. So just before at
tending the Jackson dinner she had
been back in her home State on
business in connection with the de-
partment of public assistance, in
which, since its establishment, she
has felt vital interest. She had
made rather severe charges that
relief to the needy and the blind was
not reaching where it should and
so told the Governor Of the State.
He ordered and appointed an in
Vestigating committee to 60 into the
charges and found that Mrs. Miller
was correct.
In making her charges she had
support from Republicans, Inde-
pendents, Democrats. the bench and
the church, who felt the relief was
not fulfilling its intended purpose;
as she expressed it, there were too
many theorists and not enough prac-
tical people" in the set-up. She said
the Guffey family from their childhood
had been reared to think in helpful
terms of those around them and
that her brother. Senator Guffey,
began in his early boyhood to take
working interest in welfare. He
was volunteer worker at the first
organized settlement house opened
in Pittsburgh and made it a part of
his duties-whenever he had time
to visit the people of the settlement
IN their homes. It is interesting
that that first settlement center was
sponsored by Charles Kingsley, the
great churchman, preacher and lit
erateur, then on lecture tour in
this country in 1875. 1t was modelled
on similar settlements he had started
in London.
Mrs. Miller thinks it was simply
tops to sit above the salt at the Jack
son dinner and next to the first gentle
man OF the cabinet, with whom she so
thoroughly agreed and who was now
IN a position to work for the inten-
national tariff policies, which had per-
haps been his dream during the years
when he was tariff expert as
member of the Congress. And there,
on her other side, was Henry Nor
genthau, with whom she was first on
speaking terms when he attended the
Democratic National Convention in
1924 with his father-sometime AM
bassador to Turkey-and when she
also first made the acquaintance of
the Presidents son, James, then a
boy IN knickers, who acted as a page
at the convention. Strange to say.
Mrs. Miller says, the most arduous and
painstaking work to be done for a
party by its committee men and
women is after the election, during
the four years.
Mrs. Morgenthau Has
New Welfare Venture.
Since her early girlhood days, Mrs.
Henry Morgenthau, wife of the Secre-
tary of the Treasury, has interested
herself actively in public welfare. such
as housing, slum clearance, public
health and generally how the less for
tunate than herself live. Hers has
been no eleemosynary interest alone;
the financing of welfare projects has
received her attention, and when she
starts off on new line she first goes
into the cost, and what will get the
best results to the greatest number
and the best way to get the recipients
of charity to help themselves. It is
doubtless with this feeling that she
has gone so enthusiastically into
Washington's latest venture, the Self
Evening star., 1938-01-16
Mrs. Oscar Poeee
Hostess at Tea.

Mrs. Oscar G. Pogge entertained
at tea Friday afternoon at her home
In Brookdale, Md. Mrs, Pogge had
assisting her in entertaining her
guests Mrs. Harold Schultz, who pre-
sided at the tea table.
Guests at the party were q group
Of Mrs. Pogge's friends from Somerset,
Nd, where she lived before moving
to Brookdale. Among the guests were
Mrs M. A. Meredith, who is spending
several weeks with her son-in-law
and daughter, Mr.. and Mrs. Holland
Huntington, in Somerset, and also
Mrs, B. Mala, who lives with her
son-in-law and daughter, Mr.. and
Mrs. w. j. Nolan, in Somerset, and
who Is soon to leave for q visit with
her daughter in Prague. Czech
oslovakia.
Evening star., 1938-01-16
D. A. r. Convention
In Alexandria.

The annual Virginia State conven-
ton OF the National Society, Daugh-
tiers of the American Revolution, will
be held March 2, 3 and 4 at the George
Mason Hotel in Alexandria. The
chairmen Of committees, who will have
charge of the arrangements, are: Mrs.
Llewellyn Powell, hospitality; Mrs.
John Thornton Ashton, program; Mrs.
William P. Herring, transportation;
Mrs. George T. Klipstein, entertain
ment, and Mrs. Charles c. Carlin, jr.,
press,