davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-08-01
Dividend Shares
Assets Increase
Ouer 9 Million
Special Dispatch to The Star.

opeelaI Dispatch to The Star.
NEW YORK. Aug. Total ne. rs
sets OF Dividends Shares, Inc, on
June 80, were approximately S42, 2,6Oo.-
600, an increase of over $4,000 900
during the first six months, accord
ing to the statement being forwarded
to approximately $4,000 stockholders
sharing in the quarterly dividend of
l.3 cents per share payable August l,
1888. The net asset value per share
on June 80, 1888 was reported to be
1888 per cent greater than on March
81. 1888. Since the fiscal year OF Divi-
dend Shares, Inc, ends on October
81. no detailed accounting is rendered
as of June 30, 1898.
Extensive portfolio revisions in the
three months ended June 80. 1888 are
reported to stockholders, involving Sc.
curltles Of 43 corporations. OF these.
10 were reductions and % were in
creases OF stocks owned on March 81,
1888. -Four new stocks were added in
the three months and purchases were
made OF % second-grade bond issues
OF seven railroads. AS a result on
June 80. 1888, the portfolio contained
stocks OF 86 corporations accounting
for approximately 84.24 per cent of
total net assets; second-grade rail
bonds amounted TO approximately
l.73 per cent of total net asests. Cash
Appropriated l4.03 per cent of total
net assets on June 80, 1888 as compared
with 1888 per cent on December 81 .
1887. largest investments were in
the petroleum. steel and building
groups, in that order.
Evening star., 1938-08-01

strength in ron-ferrous metals; rise In
machine tool orders; and increased rail
trafic as measured by car loadinrs.
Summarizing the situation, the mag.
azine concludes:
The recovery now under way i.
forced by the exhaustion Of stocks, but
its permanence depends upon the
ability of the various groups of con-
sumers to buy what each other has for
sale. In other words, itddepends upon
ironing out of trading relations and
the quickest and surest way is by
ironing down the costs that are OBJ
structing trade and causing unem-
ployment. Prosperity is a state OF
rapidly flowing trade"
Evening star., 1938-08-01
TWO COMPANIES FAIL
TO ACT ON DIVIDENDS

BY the Associated Press
NEW YORK. Aug. 1.-Directors of
Bigelow-Sanford Carpet Co. today
took no action on common or pre-
ferred dividends. Previous payments
were so cents on the common last
December and the regular quarterly
$3.50 on the preferred on June /.
HARRISON Walker Refractories Co.
Directors took no action on the COM
mon dividend, on which the last pay
ment was Is cents on June /. How
ever, the regular quarterly dividend
of $3.50 on the preferred was de-
clared, payable October 20 to stock
of record October 6.
Evening star., 1938-08-01
CHICAGO GRAIN
3. the Associated Press.

CHICAGO, Aug 4.-Corn prices
plunged downward 212 cents q b,lshel
late today and smashed the current
seasons low price records. Wheat ear
lier also outdid all recent bottom fig
ures.
An outburst of general liquidating
sales by holders of corn futures ac-
companied the fall of values. Atten-
ton given to extremely favorable
prospects for a bumper crop was the
chief unsettling influence as to that
grain.
At the close, Chicago corn futures
we're 1is-l's lower compared with
Saturdays finish, September 55is-l. /;
December, 52l4-as: Wheat ss-7s
down. September 667s-67; December,
6834-1s, and oats, as-?s off.
Evening star., 1938-08-01
SALES INCREASE SEEN
FOR FARM EQUIPMENT
Special Dispatch to The Star.

SpeCidl DlSpalCn 10 Inc Star.
NEW YORK, Aug. 1-Agricul-
tural equipment manufacturers should
enjoy improved operations over COM
ing months, according to Poor's
Stock Reports. Farm income, which
has trended steadily downward since
the spring of 1887, is expected to rise
from current levels through the opera
tions of the 1888 Agricultural Adjust
ment Act
The farm credit situation has been
substantially improved through opera
tons of the Farm Credit Administra-
tion and private lending agencies" +"
states the report. Cash available
for capital expenditures in the COM
ing year will be higher than in the
last IL months. Although domestic
farm equipment sales for 1888 may
not reach the s5o4OO0 900 indicated
for 1887, a new peak may be estab-
lished within the next year or two
Evening star., 1938-08-01
AUTO-L|TE LOSS
REACHES $1S3,657
Contrasts With $2,316,275
Profit in First Half of
Previous Year.
81 the Associated Press.

ES tnc hSeOCidlcu Eieeb.
NEW YORK, Aug. 1,-Electric
Auto-Lite Co.. manufacturers of au-
tomobile accessories with IA domestic
and two Canadian plants, reported to-
day six-month net loss of $l83.657
after charges and income taxes,
against profit of s2,31e,275 or s1.s2
a common share during the same Pc
riod last year.
Hazel-AtIas Glass.
Hazel-Atlas Glass Co.. with princi-
pal plants at Washington, Pa, and
GAINESVILLE, Ohio. earned s69l,4 or
sl.59 a common share in the quarter
eroed July 2, compared with a net
income of $900,172 or s207 a share in
the like 1887 quarter.
Ohio Oil Co.
Ohio Oil Co., and subsidiaries, oper-
stlng in IA States and Mexico, today
reported net profits for the June
quarter Of 1891 1868 or 9 cents COM
mon share, compared with S1,292148
or cents share for the preceding
quarter and s3.250,728 or 81 cents a
share for the June, 1887, quarter.
SocOny- Vacuum Oil.
Socony Vacuum Oil Co. estimated
consolidated net income for the first
half of 1888, including equity in un-
distributed earnings of non-consoli-
dated afflliates, at about $4,000 900.
equal to 81 cents a share of capital
stock, which compared with $4,000
600, Or sl.03 share, reported for the
first half last year.
Bigelow Sanford.
BigeloWSanford Carpet Core
ported for six months ended July 2
net loss of Sl,565,223 after charges
and taxes, but before inventory ad-
justment, against net income of
sl,516,179 for the same period a year
ago. The company's plants are To-
Gated at Thompsonville, Conn, and
Amsterdam, N. Y.
HARRISON Walker.
Harblson- Walker Refractories Co.
Today reported estimated net profit
for the June quarter, after deprecia-
ton. Federal taxes, etc, at $87,10O,
compared with 1921 300 for the June.
1887. quarter. The company operates
q plants in Pennsylvania, Ohio, Ala
bama. Missouri, Kentucky and
Indiana.
Evening star., 1938-08-01
TO THE PoL1cYHoLDERs OF

TIE PRUDENTIAL
INSURANCE COMPANY OF AMERICA
NOTICE is hereby given that a meeting Of
the pollcynoders OF THE PRUDENTIAL
will be held at the Home Office of said Com.
pany. in the City Of Newark, New Jersey, on
Monday, TIE Fifth Gay Of December. 1888.
at twelve O'Clock noon, for the purpose of
selecting four persons TO he voted for by the
policyholders' Trustees as members of the
Board OF Directors at the annual election Of
directors OF the Company to be held on the
Ninth dav OF January, 1859
AT such meeting every policyholder of this
corporation who is OF the age Of twenty-ona
years or upwards and whose policy has been
IN force for at least one year last past shal bs
entitled to cast one vote in person or by proxy.
EDWARD d. DUFFIELD, Prfndeni.
Evening star., 1938-08-01
METAL MARKET.

NEW YORK, Aug. Copper
steady; electrolytic spot, 1O121a: export,
lQ.42h7, nominal. Tin steady: spot and
nearby, 44.25; forward. a. 30. Lead
steady; spot, New York. 4a0-a5: East St
Louis. AS. Zinc steady; East st. Louis
spot and forward 475 Pig iron, No, q
Lob. Eastern Pennsylvania. 81 90; Buffalo
90 o0; Alabama. 1900. Aluminium, vir-
s1n ea per cent. 1000. Antimony, spot.
1900. Quicksilver, SO0O-Sl .00 Plat
mum, pure, $500. Wolframite, 1900
1000, nominal
Evening star., 1938-08-01
PARIS EXCHANGE RATES.

PARIS, Aug. l lPl.-The United
States dollar finished at 36.215 francs
(2.76l cents to the france in foreign
currency dealings today. This COM
pared with 2.760 cents to the franc in
New York over the week end. Ex-
change on London, 1911. Principal
rente issues in the Bourse: Three per
cent, 7400: AIS a. TITO; 4l2s,
1887, 1872
Evening star., 1938-08-01
BRITISH MARTS CLOSED.

NEW YORK, Aug. (P).-English
banks and security exchanges re-
manned closed today as they rounded
out the August bank holidays begun
Saturday. Also closed until Tuesday
were the Liverpool wheat, cotton and
provisions markets.
Evening star., 1938-08-01
VISIBLE GRAIN SUPPLY.

NEW YORK AUG. / lP,.-yis,bls sun.
ply OF American grain showed the fol-
!oWlng chanses from last week Gin bush
eH,; Wheat increased 1898 600: corn de-
uuo: rye increased 10000: barley in
Evening star., 1938-08-01
Chicago Cash Market.

chicago Cash Market.
Cash wheat, No. 3 red. 6Sl4: No. l
hard. TO- 7-7l'4; No. 2, 7Ol4-l2; sam
pie. 62i4; No. hard yellow, TO; No. 2,
69i4-70; No. dark Northern, TAI
No 3, u: No. 2 mixed, SO; No. 3, 67l4 :
81 No. 4, 66a4. Corn, No. l mixed,
S717: No ?, ST; No. yellow, 57-5724 :;
NO. 2, 57l4-34; No. l white, 57l4-A :;
No. 2, STA; sample. 1886. Oats, No.
mixed, "a, No. 2, 24-241.; No. white.
25i2; No. 2, 24-25; sample, 20-21l2.
Rye, No l, 49,; No. tough, 46.
Barley feed, 1892 nom.
Baltimore Quotations
BALTIMORE. Aug. ! tP-Wheat No. .
red winter. garlicky. spot. domestic G6i,
Corn. No. yellow. Ss-Tl
WinnipeE Closed.
WINNIPEG. Aug. | UP.-Wheat market
closed civic holiday.
Evening star., 1938-08-01

Midvale Co.-Net profit of COM
pany for II months ended June 80
was indicated at around $1,000, 900,
compared with indicated net profit for
,hke 1887 period Of 81 l,S0o 900.
Evening star., 1938-08-01
CLEARING HOUSE ISSUES
REPORT AT NEW YORK
E! the Associated Press.

E! the Associated Press.
NEW YORK. Aug. 1.-The weekly
statement of the New York Cleo rir1
House shows
Total surplus and undivided profits
s9l2.881, 700.
Total net demand deposits (averaee,
decreased $54.289. 900
Time deposits (average) decreased
$l.547.000.
Clearines. week ending today, s2,-
748 ,547,190
Clearinss. week ending July %,
$3,048, ,045,l86.
Evening star., 1938-08-01

Childs Co-Deficit. six months
ended June 30, was s325,177, against
net income of S199.265.
Evening star., 1938-08-01
INSURANCE STOCKS

NEW YORK. AUG. P-Investment
Bankers Conference, Inc:
Evening star., 1938-08-01
DIVIDENDS ANNOUNCED

NEW YORK. Aug l t4N.-Dividends de-
clared.
No Action.
BiRelow Sanford Carpet com and pfd.
HARRISON Walker Refractories
Evening star., 1938-08-01
INVESTING COMPANIES

NEW YORK, Aug. P,-Investment
Bankers Conference, Inc:
Evening star., 1938-08-01

MISCELLANEOUS
Chevy Chase Club LIST Ans l04
Col. Country Club 1st 4As 103
Ter. Ref. & VII. Cor ISt 4l.S l0l "a
Evening star., 1938-08-01

Also extra or extras.
Declared or paid so far this year.
FPaid last year.
Evening star., 1938-08-01
U. S. TREASURY NOTES.
CReported by Smith. Barney 4 CO.

NEW YORK August iP-Prices
quoted in dollars and thirty-seconds:
Evening star., 1938-08-01
Washington Exchange
SALES-AFTER CALL
Capital Traction 5s-$l 900 at 70.
Bid and Asked Prices.
BONDS.

PUBLIC UTILITY
Evening star., 1938-01-08

recently established at Georgetown for
pure research in brain physiology and
anatomy. Almost unnoticed in this de-
velopment has been the establishment
this year Of the William A. White School
of Psychiatry, which promises to raise
Washington above Vienna as a world
center for research In this branch Of
medicine.
The activities of these units Is at pres
ent unco-ordinated and there is no i'm
mediate proposal to coordinate them.
Perhaps the best interests Of all will be
served If each pursues its individual
way in an atmosphere Of friendly CO.
operation.
The fact remains that in the field Of
medical research America has arrived.
Vienna and Paris have lost their
prestige in this respect. They began
Slipping after the war. And Of all this
American development Washington has
become, without any conscious design
on the part of anybody, the center which
henceforth may be expected to attract
students from all over the world.
Evening star., 1938-01-08
A World Medical Center.

The proposed naval medical center,
which now seems near to realization
with a preliminary provision of $780,
600 in the current budget, is significant
both in itself and in respect to the
larger pattern into which it fits.
1t will constitute very large unit in
a development, in progress without at
tracing much attention for some years,
which is making Washington the medi-
cal capital of the world. Other units
are the National Institute of Health of
the Public Health Service, the great
Army medical center which has grown
up around Walter Reed Hospital, the
agricultural research center at Beltsville,
where many experiments have dealt with
fundamental medical problems; the In
stitute OF Pharmacy, the diagnostic CEN
ter of the Veterans Administration at
Mount Alto and such older institutions
as the surgeon generals library. Only
second in importance is the great ex-
pansion and improvement in the past
few years of the three local medical
schools, George Washington, George
town and Howard. The first two espe-
cially have become far more than insti-
tutions for the systematic education of
physicians. They have become world
centers of research. A striking example
Of this expansion is the Brain Institute
Evening star., 1938-01-08

business decline and that he would not
favor its outright repeal, Mr.. Eccles
turned to the capital gains and losses
tax with equal candor. Here again he
specified that he felt that the principle
of taxing capital gains as income is q
Just one but that he agreed with critics
who feel that allowance should be made
for carrying capital losses over period
OF years sufficient to allow their bal
ancing against the taxable capital gains.
At the present time the prohibition
against carrying capital losses beyond a
single tax year is obviously one-sided
as compared to the taxability of capital
gains accrued over any length of time.
Mr.. Eccles' voice is just one of many,
both within and outside the Govern
ment, that have been raised in favor OF
revising these two taxes. During the
special session last fall the House Ways
and Means Committee reported consid-
erable progress toward such revision
President Roosevelt indicated in his
opening message to Congress this week
that he believes some tax corrections
are advisable. Let action be taken then
as soon as possible in order that those
who feel the restrictive effects of these
levies may have a bird in hand" rather
than promises "in the bush."
Evening star., 1938-01-08
STARS, MEN AND ATOMS
Notebook of Science Progress in Field,
Laboratory and Study.
BY THOMAS r. HENRY,

excavations were at village site in the
Canadian Arctic north of Hudson Bay
There the artifacts of an Eskimo culture
were uncovered which showed signs of
great antiquity and differed materially
from the articles used in the region to-
day. This site could not be dated
Next came the excavation of site in
Northwest Greenland with much the
same type of culture but with variations
showing that it was considerably more
recent. Here were found objects made
OF church bell metal, showing that these
people had come in contact with the
Norsemen. The paucity of objects, how
ever, reveals that the contact was quite
cursory. 1t must have been quite early
In the Morse occupation.
Then sites were eXcavated quite close
to the Morse settlements themselves.
These contained many more European
objects. They must date from the time
when the Eskimo, descending out of the
North, were making successful attacks on
the white settlements.
While the Norsemen were on the
Southern coast the hated Eskimo Ger
talnly could not have passed by them to
settle along the East coast. They never
could have passed over the Greenland
ice sheet. Consequently East coast ruins
certainly date from some time subsequent
to the humiliation of the Scandinavians.
In this way, DR.. Mathiassen points
out, a sort of chronology by centuries of
the history of the dominant people of the
Far North can be built up.
Evening star., 1938-01-08
Objects to Beatty Story
About South America

10 the Editor OF The Star:
Mr.. Morgan M. Beattys article in The
washington Sunday Star of November
Il has been called to my attention. do
not question it's main thesis, Radio Un-
dermining Monroe Doctrine" but when
the statement is made that South
American relationships are not Fascist
that calls for some explanation and
evidence. The unnamed authority for
this statement leaves himself a loophole,
1t Is true; he says they are mot Fascist
IN the Italian sense" Well, of course, no
nation is quite like another. What we
are interested in is whether these coun-
tries are not practically Fascist dicta-
torships. What country ever admitted
being Fascist "in the italian sense?
DID Germany? Or frances Spain?
This "unomcial authority" also speaks
OF Latin American countries that bear
the Communist stamp" never heard
before there were any such South Amer
lean countries. Which ones are meant?
writers OF Fascist sympathies are accus-
TONED to call loyalist Spain Communist,
ana even France is labeled Communistic,
IN TACT Hitler and Mussolini call all
democracies Communistic IN tendency.
1t makes difference who does the call
ing. HARRIET w. PATTERSON.
Evening star., 1938-01-08
Opposes Separate Board
For RecreatiOnal Activities
To the Editor of The Star:

10 tHe EullOr OF i ne Star.
I am glad to see that the citizens
associations are waking up to the danger
of the proposal which is before the COM
munity to divide education by attempt
ing to remove from the schools their
community and recreational activities,
putting this phase of educational work
under separate board. The proposed
plan is like earlier efforts to have sepa-
rate boards for high schools. It would
harm both education and recreation,
resulting in years of conflict, waste and
arrested development.
For many years have been interested
in this problem of recreation and have
made inquiries in different cities as to
the manner of administering public rec
reation Clearly allowing for occasional
exceptions, recreation is best admin
istered in those cities where it is COM
pletely under the jurisdiction of the
Board of Education. Under that plan
personnel is more carefully selected and
better qualified; facilities are used to
better advantage; the relationship to
home life is better; study and leisure are
better co-ordinated and are focused
more effectively toward well-rounded
character development. In 1918 a nota-
BILE committee of the National Education
Association on which the late President
Charles w. Eliot of Harvard was lead
ing member, pointed out that education
for leisure is an increasingly important
part of the schools task. Recreation is
q phase of education. 1t should be In
charge of people thoroughly trained In
child growth and development and in
methods of educational work and under
supervision of educational authorities.
Let every parent, teacher and citizen
give thought to this issue and bring the
matter to the attention of members of
Congress. The need of government to-
day Is toward greater unity and eff
cheney, not toward increased division
and confusion.
JOY ELMER MORGAN.
Evening star., 1938-01-08
Action on Taxes.

Straying from the subject of unem-
ployment alone as the committee showed
an obvious desire to hear his views on
kindred matters, Chairman Eccles of the
Federal Reserve Board, testifying before
the Byrnes Committee the other day, ex-
pressed some views on taxation which
should be encouraging to business senti-
ment.
Obviously leaning away from much of
the extreme position of some of the New
Deal spokesmen, the Utah f1nancier lent
his unqualified support to those who
have called for amendment OF the un-
distributed corporate profits tax and the
tax on capital gains. With regard to
the first, Mr.. Eccles said he believed
exemption should be allowed for profits
to be used in plant expansion and that
adequate allowance should be given for
statutory or contractual obligations of
corporations.
Examination Of corporate income sta
tistics shows that moderate fixed ex-
smption of profits within the first 900
would remove this burdensome tax from
. great majority of the Nations corpora
tions but would affect only about ten
per cent of the aggregate profits now
taxable. Thus, the alienation would
truly benefit those concerns which are
most in need OF their net income for
selnvestment purposes.
Making clear that he did not blame
this corporate profits tax for the present
Evening star., 1938-01-08

composer of youths young dreams. He
Is loved more by mature minds and
hearts.
The day will come when this same
young man, so in love with his Berlioz,
his Ravel, his Stravinsky, will find out
that he loves Beethoven more than all
of them.
He would not believe that statement
now, but he will thirty years from now
Then he will realize that, as young
man. he really did not know what he
liked" after all.
His judgments on music were the
judgments of the young, and they are
not and cannot be the same as the
judgments of older people.
1t is difficult to convince some persons
that music is thinking, but If it were
not it would have little appeal to those
beyond the jazz age.
1t is emotional thinking, rather than
intellectual thinking
1t is because thousands of persons
mostly indulge in emotional thinking
that music makes such a great appeal
to them
1t is because music is thought, Of a
sort, and that all of us think, in a way,
oAAA w q Villain ChtCllO, IlldO liuolS Ol
the best quality has a chance to appeal
to us sometime in our lives.
\ y
That is why one may grow in musical
appreciation, and why the pure music,
as 1t is called, of the symphony is the
last growth along the road of apprecia-
ton.
Many person who honestly believes
that nobody, positively nobody, cares for
such music, in time will come to love
it himself, much to his astonishment
This is one case in which a little
familiarity is not dangerous thing.
A little familiarity, at first, is the only
way to learn.
1t is the same with music as with
reading writing, arithmetic.
Making garden, or anything else, it is
always the same, first little, then a bit
more, then a great deal more.
When the world goes back on that
idea and tries to get something for
nothing, it may achieve the something,
but the nothing will get its revenge, in
peculiar way. For the something,
being only half or one-fourth known, is
not valued, and hence is thrown away
or lost.
X X
Those who shrink from the SYM
phonies must do the very easy thing of
exposing themselves to them, now and
then.
1t is an amazing thing, how even the
trained listener may mot see thing
in a symphony, at first only to find it
opening up new beauties to him each
time he hears it
We know gentleman in this town
who loves Beethoven's third, the
"Eroica," but says he cannot endure
Vaughan Williams "A London SYM
phony."
Knowing his real love of music, we
feel sure that if he listened to it twice
in his own home, on the only record
ing, he would shortly come to appreciate
1t for a splendid work.
A symphony is not mere sound and
fury, but the quintessence of musical
thinking. 1t represents plan and order;
it means something great, something in
tensely human and therefore hopeful
and alive.