davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-12-15
Foreign EXCHANGES

NEW YORK Dec. Is LP.-The British
pound and French franc continued their
todsy's foreign exchange dealings.
Sterling advanced "A cent and the
franz, franz oGh cent Some support was A.
circles by the stronger stand taken in
recent British references to Germany and
the hrm views Of France with regard to
its foreign possessions
The Swiss franc slipped .O2la cent,
changed
Late rates follow:
Great Britain in dollars others in cents.
Great Britain. 4.67ss: 8O-day bills.
4S6ss: Canada. Montreal in New York
g. 90: New York in Montreal. lo1 90:
Denm.rk T emma 2oss; nnl.nd: s:os: France.
tEsyel. 1925; Greece. ,s8h; Hunsary.
Netherlands 81 .34h: Norway 1880: Po-
land. 1888; Portugal: 4,24h: Rumanis
Switzerland. 22.6O: Arsentins. 31.20n:
Brasil Lfreel soon: Mexico City. cocoon
Japan, 27.2s: Hong Kong, 1927: Shanghai.
1913.
Rates in spot cables unless otherwise
indicated. n-Nominal.
Evening star., 1938-12-15

tne UnlteQ STATES, he dSSerCeu.
In exploding certain cherished
Illusions" Gov. Davis declared that
in the field of money and credit the
spending policies of the Government,
its taxation policies, and its deficit
financing are all powerful factors
and are in the hands Of Congress
and not of the Federal Reserve
Board nor can they be delegated to
any other financial authority Con-
gress might set up.
The gold stabilization fund and
international exchange transactions
constitute powerful monetary force
and they are operated by the Treas
ury and not by the Federal Reserve.
Banking Responsibility Spit.
In the banking field, he said, Fed
eral responsibility is split up into
several segments, of which the Fed
eral Reserve has only one. 1t plays
relatively minor role in banking
supervision, even though its powers
to influence general credit conditions
are considerable.
On recent date there were 1864
banks in the banking structure Of
those only 6,34l are members of the
Federal Reserve System. OF the
members, 5.239 are national banks
which are primarily responsible to
the Controller of the Currency, who
examines and supervises them. The
rest of the members are 1,102 State
banks who choose to belong, and the
Federal Reserve System shares the
responsibility of examining and su-
pervising them with the banking
authorities of 48 States.
OF the member State banks, 1856
are insured in the Federal Deposit
Insurance Corp, which shares super
vision with the 48 State banking
authorities, Mr.. Davis said.
That is the picture as it is and not
as many people think it is, Gov.
Davis continued. He expressed the
belief that Congress could not create
a central banking authority with full
monetary in the field of money and
credit alone, which would establish
and maintain certain desired price
levels, say the price level of 1926.
Congress could not delegate to such
an authority any control over taxa
tion and spending, two powerful
monetary factors.
Employment Most Vital.
Credit could be supplied in abun-
dance at low rates of interest but
cheap money would not guarantee
the desired degree of economic ac-
tivity. or the desired response in
prices. In spite of the enormous
amount of credit available at low
rates, people are just not using
money as they did in earlier years"
And the price of gold has not had
the effect on price levels in the past
that has been generally supposed.
He hinted that the gold price" has
not been as dominant as the cur
rency price,
In conclusion Gov. Davis asserted
that the aim of establishing certain
price levels is not as important as
establishing an annual income COM
parable to the Nations man-power.
physical and monetary resources.
To do this employers must look to
increased production rather than to
higher prices for profit; and organ
lied labor must learn that increased
production is the only safe path to
higher real wages. It is a vital prin-
ciple that agriculture has always
practlced, Mr.. Davis concluded.
Evening star., 1938-12-15
Bank CIearings Hold
Above 1887 Levels
Despite Decline
Remain 3.o Per Cent
Ahead Of Year Ago at
n Leading Cities
By the Associated Press.

By the Associated Press.
NEW YORK, Dec. 1s.-Bank
clearings for the latest period were
again higher than a year ago, al
though the total was smaller than
that Of the week previous. The
year-to-year gain marked the sec
ond successive rise over the figure
for the comparative week of the
year preceding.
Total transactions for % leading
cities of the United States for the
week ended Wednesday, December
IA, according to Dun & Bradstreet,
Inc. amounted to $5,eSe, TOO 900, an
increase Of 80 per cent from the S.
474 ,706.0o0 recorded for the same
week last year.
New York clearings dropped 81
per cent under the previous total to
So, 1855, ,19i 900, which, however, re-
mained above the 1887 aggregate of
$3,412, $4,000 by IA per cent. The
turnover for 81 cities outside of New
York was s2,02O,51S,O0O, against
50 ,06l ,923,000 year ago, giving a
decrease of 20 per cent.
Clearings for the latest period fell
$458 ,248 900 under the total for the
December week. Between the two
corresponding weeks of 1887 the
drop was only $27,401 900.
Gains and losses among the out
side cities were almost equally
divided. The more important ad-
vances were: Omaha, 14.3 per cent:
Cincinnati, TT per cent; Louisville
ST per cent, and St. Louis, 81 per
cent. Declines included: New Or
leans, 1913 per cent; Detroit, 90 per
cent; Pittsburgh, 10 per cent, and
Chicago, so per cent.
Bank clearings at leading cities
together with percentage changes
from a year ago, follow: also the
daily average bank clearings for the
months OF October, November and
December to date:
Evening star., 1938-12-15
Chicoqo Produce

CHICAGO Dec. Is CP.-Butter. s51.-
~; weak: creamery specials ta3 score,
taO-a!l .5-25i.: nrsts $3.50. - -94ss:
centralized cariotsi, s5is. ~ '''
Eses 1905; unsettled; fresh sraded
nrsts, IS; refrlgerator extras. o13.: stand
ards. "a; f1rsts. II; other prices un-
Poultry, live, . cars 43 trucks: steady:
ducks, Az pounds up colored l4la:
white Is; geese l4ia other prices un-
Dressed turkeys Arm: box packed young
hen turkeys, 27Ha; other prices un-
Potatoes. e.; on track. 300: total y. g.
shipments. 3S9; Idaho Russets and Colo
rado McClures slightly weaker Northern.
All varieties hrm; supplies moderate: de-
mand very slow: sacked per cwt Idaho
Russet Burbanks, U. s No: / car 10
car :65: Colorado Red .McClures. u g. No
J.: cotton sacks. $50; burlap sacks. 10;
Wisconsin, round whites, q. g. CONNER
Tl, Gals: lev sales .05; North Dakota; Bliss
90 per cent . S. No. and better .5-
SO: Early Ohios 90 per cent q. 8. No. /
1.3212-35.
Evening star., 1938-12-15
Will Redeem Debentures

NEW YORK, Dec. Is (SpeciaD -
Brown Shoe Co., Inc, has elected
to redeem on February l, 1899. $780,
600 face value of its l5-year 3s4 per
cent sinking fund debentures, due
1850, at los per cent and accrued
interest. These debentures, which
have been drawn by lot, will be
payable at the Office of Goldman,
Sachs & Co.. fiscal agents, 80 Pine
street, New York City.
Evening star., 1938-12-15
FIorsheim Shoe Co.
Profits Show Drop
By the Associated Press.

CHICAGO, Dec. 15-Florsheim
Shoe Co. reported today net profit
for the fiscal year ended October 81
of $456, ,889 after charges, equal under
participating provisions OF the shares
to $1.l4 share on class "A" common
stock and 81 cents a share on class
B" common. This compared with
$928,812, or $2.3l on class "A" and
$1.16 on B" in the preceding fiscal
period.
Evening star., 1938-12-15
Poris Bonk Chances

PARIS. Dec Is LP.-Bank of France
statement as Of December 10 lin millions
OF francs): Gold reserve, 1924: un-
changed. Balances abroad a6S: increase
& Negotiable bills bought in France l.
ties, 1907; decrease. is5' Discounted
commercial bills tFrance}. 915O: decrease
655: Temporary advances to state. 2O.62S:
SS7. Total credit to current account 80
9l1; decrease. l,647 30-day advances
against government securities. 52o: de-
crease 1919. Ratio Of gold to sight liabiIi-
ties. 81 10 per cent. compared with 6Ol7
last week. Rate of discount, ga per cent
Evening star., 1938-12-15
New York Cotton
BY the Associated Press.

NEW YORK, Dec. 15.-Cotton
held its ground today on trade price
fixing and foreign buying, although
limited offerings caused partial re-
actions.
March sold off from 828 to 8.22
and in midafternoon was quoted at
8.25, when the list was 3 to 5 points
net higher.
Evening star., 1938-12-15
Tobacco Markets
By the Associated Press

Burley tobacco growers disposed Of 3a7.-
72O pounds on the Abingdon market yes
terday The price average was S16.Is
per 100 pounds
Prices averaged 1857 per hundred
weight for the 17S.752 pounds of leaf
sold on the Isynchburs dark fired market
gated 122,69s pounds averaging Ss.5e
Der 100 pounds
Low Grade leaf was predominant in yes
terdays oherinR on the Danville fue-
cured market where sales totaled l5a.75O
pounds The. price average was 1880
per 100 pounds.
Evening star., 1938-12-15

day Chester C..
Davis, member of
the Board of
Governors of the
Federal Reserve
System, declared
that the board
is not the power
full m o n e t ar y
authority that
many believe it
to be. The Re-
serve Board does
not have a CEN
trail monetary
authority or even
a central bank
;~~ o,,fhori<u ~,
Evening star., 1938-12-15
London Bonk Report

LONDON Dec Is R.-Bank Of Eng-
land statement as Of December IA Un
thousands of pounds)
Bullion. 327.51s; decrease. 95. Reserves
62.l70: decrease, 1891. Public deposits
Is. sos: decrease, 5000 Private deposits
135,54S; decrease 3.34O Government
securities SO 361: increase, o.2o5. Other
securities. 3S.513: decrease. $50.
Ratio Of reserve to liabilities Al Der
cent, compared with 44.3 last week.
Evening star., 1938-12-15
Bonk Promotes Four

BALTIMORE, Dec. IS (SpeciaD -
The Board Of Directors of the Union
Trust Co. of Maryland has elected
four new assistant vice presidents.
They are Kenneth A. Bourne, G..
Roland Mays, D. C. w. Ward and
John E. Weyer. All of them have
been associated with the company
for some time.
Evening star., 1938-12-15
Dry Goods Market

NEW YORK. Dec. Is (P.-Demand for
cotton gray goods picked UP today as buy
ers covered needs for the frst quarter Of
1899. Inquiry for percales continued
good and sheets and pillowcases were active
Silk was unclaimed to 2 cents . pound
higher Burlap held quietly steady while
some demand developed for wool goods.
Evening star., 1938-12-15
Monetary Authority
OF Reserve Board
Held 0verstated
Governor Duvis
Addresses Farmers
On Price Levels

Speaking on Credit and Currency
Management and Price Level" be-
fore the American Farm Bureau
Federation in New Orleans yester-
Evening star., 1938-12-15
U. S. Treasury Position

The position OF the Treasury Decem-
Der l3; RECEIPTS: Sd65o7 $3.50, ex-
sss4i .s47 oss.ss including nsi 81 1i4s 1aiiase
0s5.02 working balance: customs receipts
for the month S1l 906. .29652.
u. s2.420 7ss. i53.45i expenditures s4.
002 400 533 80 including 81 339, ,O9l :
1855 80 of emergency expenditures: excess
OF expenditures. ST .5S1 612.3SO11: gross
debt S3S; 674 .426.O60.49 an increase OF
$3.50 .623.21 above the previous day: gold
assets S14.37S 725.699 991.
December's precious stone is the
turquoise-"happy love"
Evening star., 1938-12-15
New York Sugar

NEW YORK Dec. IS lPl.-sugar fu-
tract advanced on increased covering and
European buying and the No. 8 on further
trade buying.
March No. sold At 113 and May at
LA. while March No. sold at 1.83 and
May At 1877. an advance Of 1 point in all
positions
Evening star., 1938-12-15
Meteui Market

NEW YORK. Dec IS GP.-Copper
steady; electrolytic spot 25: export,
lO.45. Tin nrm; spot and nearby. 46. 40:
forward 1928. Lead steady: spot. New
York. 1850: East st. Louis 4.6O. Zinc
steady: East st. Louis spot and forward.
$50. Pig iron. aluminium. antimony, quick
silver, platinum and Chinese wolframite
unchansed
Evening star., 1938-12-15
New Orleans Prices.

NEW ORLEANS, Dec. is R.--Cotton
futures opened A. points net higher here
today in response to steady foreign markets
and improved textile trading.
buying side but trading tapered on after
the start and toward the end of the nrst
net higher.
Cottonseed oil opened steady: December
7.19b; January 1.l3b: March. 1.32b: May,
40; July, 1.41b. Bid.
Evening star., 1938-12-15
Rubber Futures

NEW YORK. Dec. Is GP.-Crude rubber
futures opened / lower to higher. De-
cember unouoted: March, 16.23-26; May,
1622-24.
Evening star., 1938-12-15
Odd-Lot Dealings
!. the Associated Press.

The Securities Commission reported to-
day these transactions by customers with
odd lot dealers or specialists on the New
York Stock Exchange for December IA:
S540 purchases involving 253. OCT shares;
s775 sales involving 24O,652 shares.
Evening star., 1938-12-15
Washington Exchange

SALES.
Capital Transit Colo at 8. 10 at 8.
Washington Railway & Electric pfd.
-6 at 1854.
AFTER CALL.
Mergenthaler Linotype-50 at 22L
Washington Railway & Electric As
$500 at l07.
Georgetown Gas 5s-sl 900 at ll3,
$1,000 at ll8, $1,000 at ll8, $1,000
at 118.
Evening star., 1938-12-15
Investing Companies

NEW YORK. Dec. Is R,-1nvestmsnt
Bankers Conference. Inc:
Moon quotations)
Evening star., 1938-12-15

Rice consumption Is at IN a1l-time
high in Japan.
Evening star., 1938-12-15
Cottonseed Oil.

Cottonseed oil dipped l to 3 points by
noon today as realizing in the wake Of the
sharp upturn late Yesterday, more than
Offset steadiness of cotton. lard and grains.
May sold at so around midday. Crude
oil vas steadier at 6as cents in the South-
east and Valley and 6A in Texas.
Evening star., 1938-12-15
Montreal Silver

MONTREAL. Dec. Is R.-Silver fu-
lures opened unchanged. December,
40.SO bid
Evening star., 1938-12-15
Building Total
Is Far Above
1887 Week
By the Associated Press.

NEW YORK, Dec. 15.-Engineer-
Ing News-Record reported today
that engineering construction
awards for the past week totaled
$50, 0,2OS, 900, figure 7 per cent less
than the previous week, but SO per
cent higher than the corresponding
week of 1887.
The new awards brought the con-
struction volume for the year to
$2,645, 1924 900, point 1877 per cent
higher than the $2,347 ,84s, 900 of the
first 50 weeks Of last year.
The value of awards compare as
follows:
Evening star., 1938-12-15
New York Bur Silver

NEW YORK. Dec. IS P.-Bar
silver, 42%, unchanged.
Evening star., 1938-12-15

Plus extra e2% extra. f2BG ex-
ira. h 75c extra eSl4 extra paio No.
vember 30. 1887. soc extra m So extra.
SOC paid September 20 1898
Evening star., 1938-12-15
U. S. Treasury Notes

NEW YORK. Dec Is lp,-Prices quoted
in dollars and thirty-seconds
Evening star., 1938-12-15
New York Bank Stocks

NEW YORK. Dec IS R.-Investment
Bankers Conference Inc:
Evening star., 1938-12-15
NEW YORK STOCK EXCHANGE

Approximate Soes Of Stocks on the NJ Stock Exconoe
V 11:OO AM.------- $4,000 1890 Noon .- O4O 900
100 P.A------- 100000 900 P.M------ 100000
Evening star., 1938-12-15

quota tions not furnished By sponsor or
issuer all others are obtained BY l. B. C.
from those sources.
The Waterbury Democrat., 1938-03-30

The state reorganization program has been adopted in its more i'm portant part, Col. Thomas Hewes, chairman of the reorganization commission, remarked last night at meeting of the Waterbury League of Women Voters and the Water bury Business & Professional Wo- mems club at St. Johns parish house. MT. J. Harold Root, presi- dent of the League of Women Vot- CTS, presided.
 Important Merger While establishment of an execu- tive budget @ state personnel de- pertinent, purchasing department and public works department have been effected, the speaker said consideration of the merger of sev- eral state agencies into depart ment of public welfare remains an important problem. It will come before the next session of the Gen. eral Assembly.
 Another proposition which he said he considered important as a recommendation of the commission is the short ballot. Were this adopted, the state would vote only for the governor and lieutenant governor and minor state officials would be appointed by the gover- nor.
 Consolidated Plan
 The principal function of the commission, he said, was to outline consolidation plan for state ex- ecutive departments, increased from five executive agencies in 1918 to 118 in 1885. There were protests from individual commissions over this plan although the major de- partments presented little difficulty
The Waterbury Democrat., 1938-03-30
THANKSGIVING OF JEWISH BOY
 GETS ACCLAIM
Reading By Every Ameri- can Urged By Supt. of
 New York Schools

New York, March 30. (UP)-I thanksgiving prayer of a 16-year old Jewish boy refugee from Ger many, was recommended today b! Superintendent of Schools Harold G. Campbell for reading by ever. American.
 Martin Marden's thanks to Amer. lea for the opportunity ito be happy and free" so impressed Dr. Camp. bell that he sent copy to Presi. dent Roosevelt, and ordered another included in the next report of tht New York city school system.
 The author is slight, red-haired He came from Germany three years ago with his sister. They joined their mother, Mrs. Betty Warden who had migrated 8 year earlier tc escape Nazi persecution. Martin wal compelled to withdraw from Roose- Yelt High school a few weeks ago tc lind a job and help support hi' widowed mother.
 His prayer follows:
 "One day in the year should be reserved for prayers of thanks giving in which we give thanks for something that has been granted us; for having been saved from some great destruction caused by nature or man.
 "I am thankful that I have been given an opportunity to be edu- cated in the United States of America.
 q am thankful that I live in a land where everyone may salute the same flag.
 q am thankful that I live in 8 land where, regardless of race, everyone may take part in ma tiOnal ceremonies.
 "I am thankful that I live in 8 land where a person may sing the national anthem without having someone tell thim that he may not because of his race.
 "I am thankful that live in a country governed by democracy, rather than force.
 "I am thankful that I live in a land where one is not persecuted.
 'T am thankful that I live in a land where there are people who have real sympathy for refugees from European countries who have gone through horrible ex- periences.
 "I am thankful that I have been given the opportunity to enjoy the E1any privileges that are unheard Qf in European countries.
 "I am thankful that I shall be able to realize my ambitions which would have been impossible had I remained in my native land.
 q am thankful that live in land where the future seems bright and hopeful, rather than clark and hopeless.
 T am thankful that l live in a land where the youth of all races have 8 tomorrow, rather than in my native land where the youth df the race is without tomorrow.
 "I am thankful that have been permitted to tell you of the troubles in European lands in
The Waterbury Democrat., 1938-03-30
1 MODERN LANGUAGE UNIT MEETS HERE

The Connecticut unit of the New England Modern Language Group will gather for their annual meet ing at Wilby high school on April g.. The meeting will be presided over by Joseph E. Feeney, chairman of the group, who is member of the
The Waterbury Democrat., 1938-03-30
Reorganization Plan
 Operating In State
Merger of Several Agencies Still Under Consideration Says Colonel Thomas Iiewes, Committee Chairman

for the reorganization plan of the commission, he said.
 Remarking that one-fifth of the national income is spent for local, state and national government. Col. Hewes said that the load is far too heavy. "It will kill this country if we don't get rid of some of it."
 He advocated the interest of all citizens in government and simpli- fication of government so that the citizens can understand it.
The Waterbury Democrat., 1938-03-30
BURLEICH CHORUS
 IN GOOD PROGRAM

The Harry T. Burleigh Chorus will present program of Negro spirituals this evening at 8:15 o'clock at Davenport Hall. The group is under the direction Of G. Loring Burwell and will be accom- panied by Charles Rhinehart.
 The chorus consists of about forty mixed voices and vas organized in this city in 1886 having been named after the eminent Negro composer and singer, Harry T. Burleigh.
 Also included on tonight's pro- gram will be selections by a chil- dren's chorus directed by Wallace Clapp. The soloists are: Sylvia Harvey, Margaret Taust, and Mrs. Drady Sturtevant. Ruth Jones will be accompanist for the children's chorus.
 Portugal is studying its problem of
The Waterbury Democrat., 1938-03-30
Crosby high school faculty.

Crosby high school faculty.
 Speakers will include Mme. Jacqueline Bertrand, of saint Mare garet,s school this city; Miss Christine Till, of old Greenwich, a director of the summer college of Weimar- Jena, Germany: Prof. Camille Merlino, of Boston unis versity and Middlebury college, school of Italian: and Miss Lula 0. Adams, of Boston.
The Waterbury Democrat., 1938-03-30
BILL HERR NAMED
 CONFERENCE HEAD
Crosby Sophomore Hon. Ored at Hi=Y Session
 in Springfield

Bill Herr vas elected president of the Connecticut lily conference at Springfield College over the week end. Bill is president of the Iroquo:s lily and is in his second year at Crosby high school.
 Twenty boys represented the Gen. tral Y at the conference, namely: Francis Bergin, John Winston, Bill Withy, Clayton Bradshaw, Bill Herr, Bill North, Edward Groody, Harry Waters, Bernard Burns, Jim DeRien- 20, Art Paige, Larry Shea, Dominic Cimino, Frank Dilliber, Norman Johnson, James Calvin, George Hoebel, Bob Waters, Walters Mall ins, Gordon Gentles.
 These delegates will report the findings of the conference at their respective club meetings this week.
The Waterbury Democrat., 1938-03-30

order that you may develop real sympathy for the oppressed of the earth.
 'T am thankful that am happy and free"
The Waterbury Democrat., 1938-03-30

Portugal is studying its problem of a continued rise in living costs.
The Washington times., 1938-09-15
Police Rescue
Fireman From
Moose Death

Still in q serious condition at
Gallinger Hospital, Firemen Leslie
E. Stewart, 81, today owes his life
to the quick action. and resource
fulness Of two members of the
police department. 90
Stewart, a veteran Of IA years
with the fire department and on
sick leave from No. 26 Engine
Company, was found hanging
from a rafter in the basement of
his home at 3611 Seventeenth st.
N. w. last night by his wife,
Mrs. Esther Stewart.
She telephoned Twelfth Precinct
station and Lieut.. j. o. Jeffries
and Detective Sergt. Frank o.
Brass sped to the rescue. They
cut the rope from around Stew
arts neck and began artificial
respiration. With the aid Of the
fire rescue squad, also summoned.
Stewart was revived and taken to
the hospital,
The Washington times., 1938-09-15
washington Times staff Photo

all out-of- State students seeking
to enroll in the freshman class.
Among those coming to the
university subject to a satisfactory
passing mark on the entrance
examination is a youth from Ger
many. In event this applicant
fails the examination, it was ex-
planned, his ocean voyage will be
for naught- unless he elects to
attend another school in America.
Another problem which the
university officials were asked to
solve is how a certain student who
spends only 81 q month on food is
going to afford an increase from
Sc to 81 a month for room rent.
The $l-a-month boarder explained
that virtually all Of his food was
mailed to him at the university
from his Maryland farm home.
The Washington times., 1938-09-15

man enrolment by approximately
40 per cent.
Although looked upon as a real
mans school," the enrolment at
the University this year will find
approximately Is per cent of the
students represented by the fairer
sex.
OF the some 1000 entering the
school this year, many Of them
those whose high school records
could have been much better
were required to take an entrance
examination. About As per cent
of those taking the examination
failed.
To keep down the surplus list
Of applications that could not be
accepted, school officials this year
offered little encouragement to