davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-02-13
RAILROAD BONDS
CONTINUE TO GAIN
Other Sections Are Steadier
but Trading Interest
Remains Slack.
Ey the Associated Press.

Ey the Associated Press.
NEW YORK, Feb. 12.-Rail loans
made further progress last week in
reducing the huge losses suffered in
the January selling deluge. Other
sections Of the bond market were
steadied by this manifestation of sup
port, but trading interest Jagged.
Investment confidence in the car
rier issues, shaken by the severe New
Year decline, improved as the list took
up second week of buoyant recovery.
This appeared in the place of the
earlier fear psychology" engendered
by the Erie's move for reorganization,
which dominated the market through
the long decline. Also contributing TO
the more hopeful sentiment on the
railroad outlook was a widely expressed
opinion the roads would be given at
least a part of the requested Is per
cent freight rate increase. The I. C.
c. decision on this was expected before
March l.
The two weeks rebound brought
gains ranging from to around II
points in a large number of repre-
sentative carrier issues. including those
Of Baltimore e. Ohio, Cleveland Union
Terminal, Erie, Great Northern, Hi
nois Central, New York Central,
Northern Pacific, Southern Pacific and
Pennsylvania. In some inactive rails
the recoveries from the January lows
ran from Is to 18 points.
There was a modest revival of trad
ing interest in certain industrial con-
vertibles as related shares moved up
hill. Utilities also tended to improve
in the late sessions
Despite its breadth, trading con-
tinued in low figures. This suggested
continued absence from the market
Of dealers concerned over the uncer-
tain business outlook and political
factors.
United States Governments moved
sluggishly IN a narrow trading range.
Evening star., 1938-02-13
WINNIPEG GRAIN

WINNIPEG Feb. IL pP,.-Apathy of buy
fIn;, er3; II ddoesther with the holiday in the
arsin smallest volume Of business in Winnipeg
day, Lieht outside selling sent futures
s nv CENT lower at the close, May, 1,.7l2:
Dealings were concentrated in the Octo
per position but trading generally was at
StanQStlll Easier overseas markets and
unsettled " weather conditions in the United
tually drove, away any hope Of reviving
Investment demand in the wheat pit.
Although Germany was reported in
CURING for United States hard winters and
united kingdom millers were said to have
purchased 100000 bushels of white pa
.ific wheat today, demand for Canadian
gralns was negligible
Liverpool eased Ia-'.d on liberal AUS
trailan offers. while Buenos Aires declined
s-h4 cent despite sale Of two cargoes OF
Plata wheat to Germany. >'e' 'A
Cash wheat, and coarse Grain demand
changed. "A
=, Coarse grains futures moved on a frsc-
tional basis. but no trading was reported in
fax or rye Just before the close. '-'
Evening star., 1938-02-13
MONTREAL STOCKS.

MONTREAL. Feb. l. lP-Stoct prices
turned slightly downward at the close of
the short session today. Losses. however,
such naners pn ouIi market'
Bros. sold off small fractions Consolidated
Smelters held UNCHANGED and International
apoeared in the general list for Canadian
Industrial Alcohol. Gypsum, Imperial OIL.
international Pete and Massey Harris
Rails were fairly firm except for loss
OF u for Canadian Car. Shawinigan eased
fraction, but Montreal Power and Cat
neau firmed.
Canadian Bronze came out with a point
gain. Dominion Steel showed fractional
advance
Evening star., 1938-02-13
INDUSTRIAL RATE
GAINS MODERATELY
Associated Press Index Turns Up
for Second Time Since Drop
Started Last Summer.
1y the Associated Press.

Hy the Associated Press.
NEW YORK, Feb. 12.-Industrial
activity turned up this week for the
second time since the recession started
last summer.
The gain, however, was moderate.
The Associated Press seasonally ad-
justed index rose to 70.4 per cent of
the l929-30 average from 7O.2 last
week and compared with 99.5 year
ago.
Steel mill operations. cotton manu-
featuring and total freight carloadings
were the principal gamers. Automo-
bile production and electric power out
put after adjustment for seasonal va
rlations. slumped to new lows for the
past two years or more
The index, with its seasonally ad-
justed components based on the latest
available statistics and with 1929-30
as 100, compared as follows:
Evening star., 1938-02-13
PRICES GO DOWN
ON METAL MARKET
Lead and Zinc Quotations Cut
During Week-Slash in Domes-
tic Copper Also Talked.
BY the Associated Press.

BY the Associated Press.
NEW YORK, Feb. l2.-The metals
trade experienced busy week, high
lighted by the amicable settlement of
the wage conference in steel and the
easier tone in the nonferrous group.
Lead and zinc were reduced a and
q cent a pound, respectively, and
there were rumors the domestic cop
per price might be further reduced
unless there was q decided pickup
in demand.
Export copper held relatively steady
for a time, rejecting armament buy
ing and purchases against currency
depreciation. but later the foreign
market eaSed also. The latter was
coupled with the. reaction at London.
the German situation and the new
cabinet crisis in Rumania. The do
mestic copper price was held at 10
cents by both producers and smelters.
Lead experienced two successive re-
ductions of 4 cent a pound, the sec
ond after the first failed to stimulate
buying interest.
Zinc declined Il cent, rejecting the
rapidly increasing stocks and poor
inquiry.
Tin prices fluctuated irregularly
over narrow limits, and finished the
week net unchanged.
Evening star., 1938-02-13
TORONTO STOCKS.

=. TORONTO. Feb. IL PA group Of
lne Junior .goldS stepped into the stock
market spotlight today, moving in VOL
ume at higher prices while other groups
moved NOV L. sluegishly The holiday on the
new YORK market had a curtailine effect
on the trade in the industrials and the
interhsted leaders remained around FRI
gay closing prices. In the penny colds
mere was turnover of 10000 shares
in the FIRST hour
Omega, Aueite. Maralgo and Bankf1eld
gained !" TO 10 cents. Hard Rock stood
out among the medium price issues ad-
yanc6ns 10 cents on a trade of more than
oooou shares. CacLeod Cockshutt held
Ghanees in the senior colds were linz
ted 10 small fractions. The close was
M Tor Pickle Grow Brien. Little Long
Lac Kerr Addison, Leitch, Kirkland Hud-
Son and Uchi
Gonsolidated SmelterS registered a point
Heclinf and International Nickel and
Noranda were steady
Lake Sulphite REGISTERED further weak
changed.
Evening star., 1938-02-13

depend on how far the automobile, the
iron and steel and the building con-
structlon industries expand this spring.
1t is important. therefore, to consider
the effect on them of the new price
scale just established by the steel
makers. This ought to encourage the
automobile manufacturers, as they
benefit most from the S4-a-ton reduc-
ton in steel sheets.
Whether or not competitive con-
ditions in the iron and steel trade in
volve price schedules from which the
railroads and the steel structural in
teIests would prosper remains to be
seen.
This weeks reports indicated slight
recession in steel production and .
decline in the price Of scrap after a
Evening star., 1938-02-13
OUTLOOK CLEARS
FOR TRADE RISE
Needed Readjustments Seen
Ahead as U. S. Steel
Reaches Agreement.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, Feb. 12-The first
cut in steel prices, and the agreement
on wages between the United States
Steel Corp. and its workers, FORE
shadow series of needed readjust-
ments which may start industry mov-
ing again. and "clear the way for q
general upturn in buying Of raw ma
terials and manufactured goods" says
Business Week today.
This does not mean that actual
operations in February will show
much or any improvement, or that
the month will be other than dis
appointing. But 1t gives ground for
greater confidence in the March out
look"
Five Points Listed.
In its weekly business outlook"
Business Week economists set down
the following points to reach the con-
clusion that readjustment. not re-
duction, will take place:
l. There is no possibility of a dras-
tic liquidation of wage rates; this
could easily bring about social dis
turbance, and is not to be expected in
any case
2. In spite Of political speeches, or
declarations by labor leaders anxious
to prove their zeal or entrench them
selves for bargaining purposes.
moderate reduction in wage rates Is
both unavoidable and wholesome.
5. Where labor costs per unit of
output cannot be cut through the
Wage-reduction channel, they will be
cut through increased labor effort Ito
protect jobs that are less secure) and
through installation OF labor Saving
devices.
4. Wages are not the only key to re-
coVery; business needs volume more
than 1t needs lower operating costs,
and readjustments outside the field
OF labor will ultimately produce the
volume. regardless Of wage levels.
5. Regardless Of intermediate shocks
and let-dOwns, the reduction of labor
costs and other needed readjustments
Will go forward steadily. pointing to-
ward spring pickup in business and
q more solid recovery later in the year.
Efficiency Held Key.
THE secret Of recovery must lie in
the improvement Of efficiency" saws
Business Week. This involves greater
effort by the individual worker. i'm
proVements in methods and labor
saving machinery. Capital goocs in
oustrles have significant role to
play; machinery statesmen are bat
tling the depression on the front of
labor costs"
ANY one who looks at the matter
tnoughtiully must realize that it is
possible for wage rates to be either
too high or too low for the welfare
both Of labor and the community
In times when wages, interest rates,
wholesale and retail prices and other
elements in the price structure are
IN balance, individuals are able to
exchange their commodities or serv-
ices, to their mutual benefit. The re-
suit is full employment and activity.
In the Presidents words, industry
IN It's own interests should ask for its
products what the people can afford
TO pay, and the same rule necessarily
applies to labor, the farmers and all
economic groups"
Evening star., 1938-02-13
AUSTRALIAN SALES
LOWER j. S. WHEAT
Large Exports to Europe
a Caused by Closing of
Oriental Markets.
BY the Associated Press,

BY the Associated Press.
CHICAGO, Feb. 12.-Big exports Of
wheat from Australia to Europe are
just now dazing traders the world
over, and incidentally are holding
United States wheat down.
For at least the time being, Australia
Is harvesting dollars wholesale as q
consequence, and American wheat ex-
porters who had expected to flll the
bulk of Europe's breadstuffs needs at
this time find themselves mainly as
tonished lookers-on, correspondingly
out of pocket The chief suggested
reason is that China and Japan are
50 busy fighting each other that any
adequate outlet for Australian wheat
in the Orient has not only been made
impracticable, but has made Aus
tralia's wheat prices the cheapest in
the world.
Hard Varieties Required.
Faced by such a difficulty, Chicago
wheat specialists are emphasizing
statements that If importing nations
are to maintain the quality of their
flour, substantial quantities of hard
wheat will be required for mixing with
Australian soft varieties, and that
United States better quality strong
wheats should sooner or later meet
with increased demand.
Compared to one week back, Chi
cago wheat prices yesterday were "a
,. Of cent lower; corn, L4-s4 up;
oats, unchanged to !. advance; rye,
showing from las decline to "a bulge,
and provisions varying from % cents
setback to cents jump.
Adding to troubles of American ex-
porters Of wheat is the fact that the
Australian official crop estimate has
been increased to l70000,0OO bushels
This is about 10000. 900 bushels larger
than preliminary returns and 10000
600 bushels more than last year. Be-
sides, forecasts now are that India will
have the largest wheat crop achieved
in several years.
Falls Where Least Needed.
On the other hand, moisture of late
for domestic Winter wheat has been
almost entirely confined to areas where
least needed However, the growth Pc
riod Of the crop taken as a whole does
not begin for about a month. A ma
jority OF traders consequently are in
clined to belief that although dust
storms may be reported from time to
time, 1t is still too early for definite
forecasts except that the Southwest
will start with great shortage in sea-
sonal precipitation, and will make gen.
erous rains imperative if another cur
taiied crop is to be averted.-
Corn values are being lifted little
by lightness Of receipts and by un-
favorable weather. Oats tend to fol-
low corn. Rye has not responded well
to moderate export buying.
Provisions partly show advances
paralleling hog market gains.
Evening star., 1938-02-13
WOOL DEMAND REMAINS
MODERATE AT BOSTON
By the Associated pr.ss

By the Associated Press.
BOSTON. Feb. IL Omitted States
Department Of Agricultural "A slight
increase in demand for wool on the
Boston market last week showed some
further expansion this week. but
activity on the whole continued very
moderate.
Mills restricted buying operations in
this market to covering immediate
needs.
Occasional lots of wool that became
available in the West at prices below
Boston quotations found outlets to
users who were anticipating near
future needs. Forward buying, how.
ever. was very conservative.
Combing bright fleece wools in Bos-
ton were quoted at % to 20 cents in
the grease for fine delaine. at 20 to 80
cents for half blood. at % to 80 cents
for three -eighths-b blood and at q to
% cents for quarter-blood.
Evening star., 1938-02-13
CHICAGO POTATOES.

CHICAGO. Feb IL ZAP, UNITED States
Department of ARriculture) Potatoes. 81:
ments. 500: for Idaho Russet Burbanks.
market dull and weaker undertone; other
stock steady; supplies moderate: demand
Idaho Russet Burbanks U. S. No l. 30
35: Colorado Red McClures: U. 8. No. l,
! :40-50: North Dakota Bliss Triumphs,
Sb per cent U. 8. No. and better. .O5-
10: Wisconsin Round Whites. U. 8 No. J..
1.O5-07la: new. stock steady, supplies mod
crate. demand light: track sales less
than carlcts, per bushel crates. Florida
Bliss Triumphs U. s. No. l. 1864.
Evening star., 1938-02-13
!. c. c. APPROVAL ASKED
FOR MISSABE MERGER
By the Associated Press.

By the Associated Press.
The Duluth, Missabe & Iron Range
Railway Co., the Duluth g. Iron Range
Railroad Co. and the Interstate Trans
fer Railway Co. asked Interstate Com
merce Commission permission yester-
day to merge into the Missabe.
The MiSsabe owns all the outstand-
ing capital of the other roads. The
application said the proposed merger
would be in harmony with consoli-
dation recommendation Of the l. c. C.
c. E. Carlson Of Duluth, Mimi, is
president OF all three of the companies
Evening star., 1938-02-13
New Peak Is Set
By Western Auto
Supply Profits
By the Associated Press.

KANSAS CITY, Feb IL. West
ern Auto Supply announced today net
earnings for 1887 reached an all-time
high of $2,475,177, equal to 1929
share, compared with S2,066,0l5, or
$2.73 a share, on comparable num-
Der of shares a year ago.
Total sales for the year, the COM
pany announced, were $36 1895, an
increase Of 435 per cent over 1886.
Evening star., 1938-02-13
Speare
Continued From Page ELY

OF high percentage of any new rate
granted on coal
Carloadings for the week of January
were little in excess of the week
previous. They are still II per cent
less than a year ago. with the loss
chiefly in the industrial centers. Roads
west Of the Mississippi report a fair
volume of tonnage originating in their
territory, but scant contributions from
Eastern lines.
Depends on Industry.
Recovery in railroad trafic in the
territory where 1t is at lowest ebb will
Evening star., 1938-02-13

Blaw-Knox Co-Lewis Foundry IL
Machine Division Of company re-
ceived a contract for two balanced
three-high rolling mills equipped with
automatic screw down from Bengal
Steel Co., Ltd, of India.
Evening star., 1938-02-13
D. c. SECURITIES.

yesterdays closing bid and asked
quotations on Washington Securities
which are traded over the counter fol-
lou-.
Evening star., 1938-02-13

Spot cotton closed steady, points up
sales. 2.21S: low middline, 7.6o; middline
300: good middling. 9.64; receipts, 3,753;
stock, S24, ,S35.
Evening star., 1938-02-13
WASHINGTON STOCK EXCHANGE
YEAR 1898

W. 1 Washinston D. c.
II,
Evening star., 1938-02-13
CROP BILL BOOSTS
COTTON FUTURES
Peaks Since September Set
Before Sales Cause Par.
tia| Reactions.
b the Associated Press.

b the Associated Press.
NEW YORK, Feb. 12.-Trade views
on progress of the conference report
on the farm bill through the House
and Senate accounted for fluctuations
Of more than $3.50 a bale in cotton
during the past week.
Sharp rallies carried new crop posi-
tions above 9 cents and to the best
levels since September before enough
realizing and Southern selling ap-
peared to cause partial reactions. May
contracts, which have advanced from
s.54 to 8.8s, closed yesterday at 88l
against 8.58 week ago.
Rapid House action in adopting the
conference report inspired general
buying on expectations the provisions
OF the bill would apply to the 1898
crop in holding acreage down to pro-
duction OF about 100000 bales.
Even more trade attention was given
to the Smith amendment to the re-
port. designed to hasten the payment
OF 2 cents per pound of the bounty
due growers on their 1887 production
when compliance with the 1888 ad-
ministration program is proven.
Active March liquidation prior to
first notice day on February % con-
tinued and open interest in the near
month was reduced by about l85, 900
bales during the week, leaving $780,
600 bales still outstanding in that de-
livery. Quiet conditions prevailed in
cotton goods markets and mill buying
Of spot cotton was restricted. Janu-
ary domestic consumption was esti-
mated at 435000 bales by the New
York Cotton Exchange Service against
$4,000 in January year ago.
New Orleans Cotton.
NEW ORLEANS, Feb. II OP.-After
reactlne from an initial advance. cotton
rallied again later today and last prices
were steady, > to points net higher.
Prospects for prompt passage of the
iarm bill were the main influences behind
the better feeling
Evening star., 1938-02-13
1895 1886 1887 1S3S

heah tuned up this oeek indicated By the a0ope chart
during the period Bonds the biggest gamers
rail issues that had recently under setting the
Stocks improved modesy the thinnest uolu1ne
The industrial picture by activity in
major industries, frightened somewhat.
Evening star., 1938-02-13
New Orleans COtton

NEW ORLEANS, Feb. II (P.-After
reactlns from an initial advance, cotton
rallied asaln later today and last prices
Prospects for prompt passage of the
farm bill were the main influences behind
the better feeling.
The RANGE of futures fnllnus
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1938-01-25
The Approach Creates Market Sell Advertise and Find Buyer
Richest Girl IN the WoxD
Copyright, 1898, NEA Service, Inc.
BY ADELAIDE HUMPHREYS

! rapherS, such n huge crowd of
curious spectators eager for a
| glimpse Of the young couple, or
possibly an autograph, that it was
necessary to haze police escort.
This was Bret's first experience
as the husband of the richest girl
in the world. He was not at all
sure that he liked it. He said he
felt as though he were some sort
of freak on exhibition. He felt
like 4 fool.
ooh, you'll get used to it." Con-
ME assured him. Anyway it
4, seems there is nothing one can
do about it. | suppose people do
think we are freaks of some sort.
Just because Of so much money.
As for the newspapcrmcn, | used
to get angry with them, too, but
they are Just doing their jobs,
you know. We are news, and so
they have to tell the world about
u.s."
Bret said he supposed she was
right. Nevertheless he did not
think he would ever get used to
being public property. He was
certain he never would enjoy it.
He was glad now that they were
going away; they would not be
"news" in other countries.
However he was to find that
they still were, to the other pas
sengers on shipboard. People
stopped talking whenever the
newlyweds, whose romance was
so strange and thrilling, APP
preached on their daily prone
made around thedeck; they start
ed as they made their way across
the big dining room to the cap
tain's table. When Bret and Con-
ME played games, OF swan in the
big pool, or danced, there were
whispered though often audible
comments, and always group
gathered as an audience. Once
Bret opened the stateroOm door
suddenly to discover man caves
dropping outside.
Il almost pitched him over
board" he told Connie violently
"Why on earth should people spy
on US and whisper behind our
backs and rubberneck? l think,
honey, if you don't mind, we'll
stay close to our rooms during
the remainder Of the voyage.
Connie said she did not mind.
Poor Bret, he was getting taste
of the gilded cage in which she
always had lived. She did not
mind the way people behaved as
much as usual; not only because
she was used to it, but because it
was impossible for her to mind
anything as long as she had Bret.
They were very happy during
this second honeymoon. Perhaps
they would never be quite so
happy again. 1t may be that each
realized this, in their hearts, and
so made every moment perfect,
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1938-01-25

shining one.
1t was fun, as Connie had pre-
dicted, seeing and enjoying every
thing together In London they
played at sightseeing, and the
night spots. In Paris they were
very gay, doing the rounds Of
night clubs and the Bohemian
quarters; and Connie, to Brct's
management, purchased t'unkloads
Of gorgeous clothes of which he
thought she had more than enough
already. In India they obtained
an audience with Gandhi, the rich
est girl in the world sitting at the
feet Of the poorest man. IHey
ordered an exact replica, in MINI
allure size, of the famous Tag Ma
hal. They stayed Il month at Con-
MES villa on the Riviera, where
the white sands were surfed by
the blue Mediterranean. In bang
kok and Delhi they browsed IN
the street markets and brought
everything from fruits to ancient
handwoven rugs. In Egypt they
gazcd upon the carved wonder Of
the Sphinx.
When they came back, after
four months into which so much
had been crowded that it might
have been several years, they
brought more than so trunks and
boxes and barrels filled with i'm
perial tapestries and brocades,
jadcs and worries, gowns and
jewels and furS, strange, brightly
colored birds in enough cages to
house the feathered inhabitants of
Manhattan - and even l0-foot
alligator from Hongkong,
What we'll do with it all is be-
yond my powers Of imagination"
said Bret.
But, darling, we had such fun
and we had to have a souvenir
of every single place and mo-
mcnt,' Connie claimed. "Oh, Bret,
I'm sorry it's ended, our lovely
honeymoon. Will we always be
as happy as we have been?" She
clung to him, her blue eyes plead
ing, her sweet lips curved in a
wistful smile. Almost she was
afraid Of such happiness as theirs;
it was so complete, so perfect.
Could it last forever, remain I'M
pregnable?
We'll do our best, sweetheart"
Bret promised, his dark eyes
grave. ct has indeed been won
derful. Pm glad We'll have such
memories to treasure and share.
But happiness is something, as
Eve told you, that money can not
buy, that is not even gift from
the gods. 1t is something one
must strive for, work to obtain
something that lies within ones
self"
Then Wen work at it togcth-
en-" Connie vowed. GAS hard as
we have played and lived and
loved. We will really be starting