davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-08-26
10 Low-Yield Bonds,
Bv the Associated Press.

Bv the Associated Press.
NEW YORK, Aug 26.-Buying
activities in the bond market today
were held in restraint by the appear
ance of increased offerings on a feeble
early upturn
Thereafter the market slipped into
q mixed and narrow range, leaving
gains and losses about in balance in
late trading.
Slightly ahead were Studebaker 6s,
North American SIS, MKT SIS of '62,
Nickle Plate 4l2s, Anaconda Copper
AVS and American g. Foreign
Power SIS.
Losers included Youngstown Sheet
& Tube As, Southern Railway As,
Pacific Gas 3As, Rock Island general
&s of '88, Erie SIS of rs and Inter-
national Hydro Electric IS.
In most United States Governments
tradlngS was at a Standstill with
prices 432ds lower to 2-32ds higher
Foreign dollar loans were irregular
with losses in Italian. japanese and
Polish groups. Cuban 5l2s rose about
q point.
Evening star., 1938-08-26
Mergenthaler Linotype Co,

Directors of Mergenthaler Linotype
Co. have declared a dividend of so
cents a share on the capital stock,
payable September 80 to stock of
record August 81. This is the first
dividend declared in 1898, directors
agreeing on March IS to defer con-
slderation of dividend action until
close to the end of the fiscal year
on September 30 In 1887 the COM
pany paid total of 81 share.
Evening star., 1938-08-26
NEW YORK SUGAR.

NEW YORK. Aug. 26 P-Raw sugar
price remained unchanged at 2.s5, ship
ment nafs SUGARS we're pointS hisher With
pines for, September October Shipment. to
an operator: at go There was also a
sale OF 2s7o0 bags of over-ouota Puerto
Futures were f1rmer on renewed trade
and commission house buying encouraged
by the c@tinued strength in the actual
market, and expectations of an Increased
aemand for refined; In the No, 3 CONTRACT
or 3. to 4, points net hieher. September,
No. A., sold up to 1.00l2 and May to 100,
or. or y to ! point net higher, with the mar
Refined was UNCHANGED at 425-3O for
fine granulated Some Western beet sugar
Eastern territory.
Evening star., 1938-08-26
EASTERN GAS & FUEL
WILL OMIT DIVIDEND
By the Associated Press,

NEW YORK, Aug. 26-Trustees Of
Eastern Gas & Fuel Associates yes
terday voted to omit the dividend on
the AZ per cent prior preference
stock ordinarily due October /. In
explaining the first dividend omis-
sion on this class of stock since 1929.
the trustees called attention to a drop
OF about $l,500,000 in earnings for
the first seven months of the year as
compared with 1887.
Evening star., 1938-08-26
FUNDS.
|NBANKS SBOOSTED
Reserve Board Says Supply
Of Idle Cash Is Largest
Since July 27.
BY the Associated Press,

oN tuo hSbOCiALcO EIebB.
The Federal Reserve Board said
yesterday the lendable funds OF the
Nations banks increased $50, ,000, 900
to s2,s80, 100000 In the week ended
August "a.
The supply Of idle cash was the
largest since july 27. The increase
resulted from Federal spending, de-
crease in money in circulation and
imports Of gold.
The boards statement said:
During the week ended August "a
member bank reserve balances In
creased ST. 900, 900. Additions to mem
Der bank reserves arose from de-
creases Of $34,0o0000 in non-nember
deposits and other Federal Reserve
accounts, s31, 100000 in treasury de-
posits with Federal Reserve banks,
100000 in money in circulation,
and increases Of s27,000,0o in gold
stock and $4,000 900 in treasury cur
rency, offset in part by an increase
OF s3l 100000 in treasury cash and
decrease of 100000 in Reserve
Bank credit. Excess reserves of mem
Der banks on August "a were estimated
to be approximately 81, $50 o00, 900, an
increase of s50,000,00O for the week"
Changes in member bank reserve
balances and related items during
the week and the year ended August
"a, 1888, were reported as follows:
Evening star., 1938-08-26
International Mining Corn.

International Mining Corp, an in
vestlng concern, reported today net
asset value as of June 80 was 1892
a share, compared with $l169 on
March 81 and s1312 at the end of
1887. The figure for the current
period does not include dividend ois-
tribution of 10 cents a share to be
paid September 20.
Evening star., 1938-08-26
SIXTH FURNACE LIGHTED
BY CARNEGIE-ILLINOIS
by the Associated Press

By The Associated Press.
YOUNGSTOWN. Ohio, Aug. 90
Carnegie-Il Illinois Corp has lighted a
sixth open hearth furnace at its Far
rell, Pa, plant, lifting the youngstown
district steel output one point to about
As per cent of capacity.
Preliminary operating schedules in
dicate this rate, the highest in over
nine months, will continue next week,
with Al open hearth furnaces, two
Bessemer converters and 10 blast fur
naces in operation.
Evening star., 1938-08-26
BOSTON WOOL MARKET,

BOSTON, Aus: % Up CU. S. Dept. OF
Agriculture) .-Tradins in wooI was light
on the Boston market today. but prices
were fairly lsneEs heaXy Most buylng was for
the finer Western grown woods Good
French combine lengths fine territory wools
] IN orlginai Ia nagS SOLO at - to 80 cents,
lengths fine territory wools brought 66
to 81 cents. secured basis. An occasionai
buyer took little 12-month Texas WOOL
at mostly GA to 66 cents, secured basis
Evening star., 1938-08-26
American g. Foreign Power.

NEW YORK, Aug. rs R).-Amer-
ican & Foreign Power Co. reported
today for the quarter ended June 80
net income, including equity in in
come Of subsidiaries, not all of which
is available in United States currency,
OF $l,580,847, compared with $780,
348 in the comparable 1887 period.
For the IL months ended June 80 net
income on the same basis was S.
653,765, against s6,417,996 a year
earlier. The company operates sub.
sidiaries in 962 communities all out
side the United States.
Evening star., 1938-08-26
American Ice Co.

Directors of American Ice Co. de-
clared dividend of 25 cents a share
on the preferred stock, payable
September "a to stock of record
September 7. On March Is and
June rs payments OF so cents were
ordered on the issue.
Evening star., 1938-08-26

In bankruptcy or receivership or being
reorganlZed under the Bankruptcy Act or
securities assumed by such companies
Rates of dividends in the foregoing table
are annual disbursements based on the
last quarterly or semi-annual declarations.
Unless otherwise noted special or extra
dividends are not included
Alison extra or extras. eDeclared OF
paid SO far this year. no regular rate.
I Payable in stock. Paid last year.
Cash or stock. Accumulated dividend
paid or declared this year Wv With
warrants xw without warrants. war War
rants.
Evening star., 1938-08-26
q. S. TREASURY NOTES.
NEW YORK. Aug. 26 Hp-Prices quoted
in dollars and thirty-seconds:
NEW YORK METAL MARKET.

NEW YORK. Aug. 26 DP.-Copper
steady; electrolytic spot, 1012i2; export.
1925. Tin steady: spot and nearby. 43 AS:
forward 1925. Lead steady: spot. New
steady; East St. Louis. spot and forward,
4.75. Pig iron. aluminium. antimony. quick
silver, platinum and Chinese wolframite
unchanged.
Evening star., 1938-08-26
CHECKS INCREASE.

The Federal Reserve Board reports
the volume of checks cashed in banks
of 274 leading cities increased in the
week ended August II to $7,309, ,807,-
600, compared with $6.325, ,s37, 900 in
the preceding week and $S,248, ,0s8, 900
In the comparable week a year ago.
Evening star., 1938-08-26
WAREHOUSING SPACE.

The Census Bureau estimates 69.3
per cent of the public merchandise
warehousing space in the United
States was occupied In June, COM
pared with 6o.7 per cent In May.
Evening star., 1938-08-26
MATCH OUTPUT UP.

The Census Bureau reports the out-
put of the match industry in tho
United States increased is per cent
to S30.902,138 from 1885 to 1887.
Wage payments in the industry In.
creased l4.s per cent to $3.50, l,e27.
Evening star., 1938-08-26
DRY GOODS MARKET

NEW YORK; Aug. o6 fR.-Cotton goods
were strong at the advanced levels SCI
in the past few days and demand was
steady. Finished goods sold in lsree
amounts at slightly firmer prices Rayon
yarns were active. Raw silk was steady
Inquiry for wool goods improved Burlsp
was quiet.
Evening star., 1938-08-26
$50 TONS OF LEAD SOLD.

NEW YORK, Aug. 26 Up.-st. JOSEPH
Lead CO. reports $50 tons Of Southeast
per 100. pounds, New York. and Too touS
At tho New York avs1ags.
Evening star., 1938-08-26
RAIL EARNINGS.

4. NEW YORK, Aug. 26 (P)-Net oper-
ating income, before fixed charges and
other income, of railroads reporting
TODAY for July included.
Evening star., 1938-08-26

American Stores Co.-July sales
were OF ~ per cent; seven months
of ST. per cent.
Evening star., 1938-08-26
DIVIDENDS ANNOUNCED

tPrepared by the Standard Statistics Coz
NEW YORK, Aug. 26-
Reduced.
Pc Stk Of Pay
Rate. Rod Rcd. able.
- Reno Gold Mlnes----112c - 9-l0 lO-1
Resumed
Black & Decker Mfg. 25c - 9-1O 9-24
Regular.
Am Hawaiian S CSC 9-l5 10-1
Arnold ConStab Col-12iac 9-lO go
Bell Tel Co of Pa
6l2G pf 81 .62i2 @ so 1915
y Burlington Steel 15c 9-15 10-l
Central Steel g. Wire
So pf 15c 9-1o $50
Coniarum Mines Ltd = SC - as a-1o
Gillette SAT Razor 15c 60 $3.50
Gill SAT Raz So pf S125 @ 10-I Ill
Kalamazoo Veg Parch 15c @ 9-19 $50
LIQUID Carbonlc Corp 20c a-19 $40
Merrimac Hat Corp .15c S-24 81
Merrimac Hat Sc pf 81 @ S"4 81
Midvale Co 81 9-l7 10-1
Natl Cash Register 25c $50 1915
Smith Howard Paper Mills
Toronto Elevators Ltd
U Steel & Wire Co I6c 8 a-l0 a-i5
eom@ Gse Inc rr s. SOC sl5 io1 lS
Distiuers Corp
Montgomery Ward - sc - 80 1918
Evening star., 1938-08-26
NEW YORK BANK STOCKS

NEW YORK. Aug. IS PJ.-Investment
Bankers Conference, Inc.
Evening star., 1938-08-26
INVESTING COMPANIES

NEW YORK. Aug. % 1P Investment
Bankers Conference, Inc -
(Noon quotations
Evening star., 1938-08-26
BONDS ON n. Y. STOCK EXCHANGE

By private wire direct TO rhs Star.
Evening star., 1938-08-26
FOREIGN BONDS

Col Asr NJ us AZ cod "a "a "a
Cuban Tob IS A 6S 66 81
Pied Ell 6l2s so A 531a 53i, 53Ik
Terni-Soc Gas SO A 54K 54R 541,
WV With warrants. XIV Without war.
rants. New. st tstp) Stamped
SNegotiabilty impaired by maturity
tCompanies reported in receivership,
Evening star., 1938-08-26
NEW YORK CURB MARKET

Stock ana Sales
Dividend Rate. Add 90. High. Low. Close.
N Zinc G.50e)-. zoos 64Ia 63h 63E
Newmont 1.50e. 3 75% 74% TAN
Evening star., 1938-08-26
(By private wire direct to Tho st.r.)

Stock and Sales
Dividend Rate. Add 90. High. Low. Close.
Acme w vtc .75e- 25s 271s 27h 27h
Aero Supply (B) Az az az
Evening star., 1938-08-26

lin millions Of dollars.D
Aug "a, Aug II. Aug.25,
1875. 1875. 1897.
Evening star., 1938-02-24
Politics in ZOning.

zoning apparently has been added to
the list of political issues in Montgomery
County. Efforts to rezone a tract ad-
joining the Sligo Valley Park to permit
erection of apartments split the county
board OF commissioners along Fusion
Democratic lines-with the exception of
a Fusionist who later resigned and was
replaced by an anti-organization DEM
ocrat who was expected to vote with the
other FusionistS. The resignation CO.
incided with the zoning dispute, although
1t was evidently caused chiefly by a
patronage battle. Nevertheless it re-
vealed how important zoning issues
which should be settled on a scientific
basis-are at the mercy Of political
developments.
Admittedly it is not an easy task to
decide what should be done in cases such
as the one which has just confronted the
Montgomery board. Opponents of the
rezoning showed their surprise at the
proposal to erect apartments in an area
which they considered beyond the apart
ment zone. They predicted that land
lying near the tract involved would no
longer be classed with the most de-
sirable in the county if the change In
coming were approved. An unusual angle
of the case. however, was that two 20
acre tracts bordering the park already
Evening star., 1938-02-24
Honor for Mrs. Townsend.

When the town of Halle in Germany
bestowed the Handel Medal upon Mrs.
Lawrence Townsend it provided an
opportunity for an expression of Wash
lngtons gratitude for her devoted service
to music and to usic-lovers.
The Nations Capital needed such
personality. Art prospers here as else
where only as it is promoted and pro-
tected intelligently. Mrs. Townsend
appears to have been endowed by nature
with fine discrimination, keen enthusi-
asm and high efficiency. Her ideals
have been both lofty and practical. She
has democratized her genius in the best
OF all possible Ways-by bringing musi-
clans and an appreciative public to-
gether. The benefit to both is obvious.
Relatively, honors are few in America.
The peoples Of Europe have developed
through long centuries a larger number
OF tangible symbols of acclaim. But it
does not follow that the citizens of the
United States are unmindful of their
obligation to those who spend their
substance, their time and their strength
in behalf of cultural progress. The COM
munity of Washington certainly is glad
to join with that of Handel's native city
in gesture of thanks to Mrs. Townsend,
She has earned applause, and it is not
withheld on either side of the Atlantic.
Evening star., 1938-02-24
Over-Capitalization of
Railroads Discussed
To the Editor of The Star.

To the Editor of The Star:
I have read with considerable interest
your editorial In the Sunday Star of
February 20 discussing the case of the
railroads.
This editorial contains the first men
ton have yet seen in the public prints
OF the outrageous and unconscionable
overcapitalization of these utilities.
My own experimentation reaching
early manhood-goes back to the
very early eighties and 1 have known
personally Of scores Of cases of what
was commonly considered by the gen.
eral public to be bribery. fraud, out
right defiance of the law, and other
forms of sWindles and trickery too nu-
merous to mention. Of course, the
actual history Of the running ard wreck
ing of roads so they could be bought up
cheap and "roorganized" can be read
by anyone sufficiently interested to look
1t up. I seriously believe that there are
many roads in this country which are
oVercapitalized to two, three, and four
times their actual cost to the buc-
cancers that either built them or later
stole them. There is nothing to wonder
at that they cannot pay dividends.
AS was mentioned in your editorial,
some one, of course, is bound to get
hurt if and when some considerable
portion of the water is squeezed out
of the stocks of such roads. but I defy
any person to defend outrageous freight
and passenger rates for the purpose of
paying those dividends Many people
argue that it is an outrage to allow the
trucks and buses to use highways to
take away such vast proportion of
the business of the railroads. 1 can't
seem to force any tears to my ewes on
account of the plight of the poor rail-
roads.
While on the subject of overcapitaliza-
ton, let me say that for a great MANY
years l was in position in the Gov
ernment service where my duties re-
CURED me to handle and carefully ex-
anime reports made by investigators to
the Federal Trade Commission, which
reports in hundreds and hundreds of
cases brought out a clear statement,
expressed In figures. telling of the
doubling up, over and over, of the cap-
ltallZatlon OF gas, electric and water
plants. The usual system was for two
or three insiders in one of the we'll
known big corporations to manage-bv
bribery If necessary and possible-to buv
up some small Or medium sized munich
pal plant. This select group would
then resell-perhaps "reorganizer- and
at the same time run the cost IN
from s25,O00 or $4,000 to ten times
that amount. Then, within lust a few
months or weeks the property would be
taken over by the big company and
stock sold to the general public for an
other doubling up.
ALBERT D. RUST.
Evening star., 1938-02-24

have been rezoned with little, II any,
opposition. This caused the applicant
in the third case to charge discrimina-
ton.
One argument stressed by the applicant
was that apartments along Sligo Valley
Park will be no more detrimental than
those along Rock Creek Park in Wash
ington. This will be true if the county
building authorities see that, in the event
of rezoning, only high-class structures
are built. Already, in the opinion of
many, an important highway entrance
to the city has been definitely marred
by the erection of apartments suggestive
of Greenbelt.
The Sligo Valley Park zoning fight
points to the need of putting zoning in
the hands Of an agency removed from
political pressure. Decisions in zoning
cases should be based on an impartial
analysis of public opinion and an en-
glneerins study of the possibilities of
the areas involved.
The State Legislature may we'll weigh
the entire Montgomery situation to see
II some such method of making zoning
more scientific and less political cannot
be devised.
Evening star., 1938-02-24
Careful Drivers Have No
Occasion to Blow Horns

To the Editor Of The Star:
The editorial "Silencing the Horns"
in The Star for February 18 is not in
keeping with previous comment on the
general undesirability of automobile
horning. City people are surrounded by
conditions unconducive to sleep and the
ban on auto-tooting should be backed
100 per cent. Those are romantic in
deed who interpret nocturnal honking
as an accompaniment of innocent ro-
nance.
Plea is made that the careful driver
warns persons and animals in his path
by blast of the klaxon. On the con-
trary, careful driver will at all times
have his car under such control that
he can stop without colliding with any
thing ahead. In fact if automobiles
were made without horns, that change
in itself would promote careful and
conSiderate driving.
Most footing by autoists is not only
unnecessary but is inspired by some of
the less desirable human attributes as
egotism, impatience, self1shness and
fear. If the motorist keeps his car in
good condition and drives sanely, he
will very seldom have reason for sound
ing his horn.
W. L. McATEE.
Evening star., 1938-02-24
THIS AND THAT
BY CHARLES E. TRACEWELL.

Restraint Is wonderful quality in
music, no matter how little standing it
may have in the rest of the world and
mans affairs.
Restraint, in music, is the power be-
hind the almost unaudible "ppp," the real
zest in the laundering "fff.'
Loud or softly let the orchestra play,
the listener will feel sure that the group
could do 1t more extremely if it pleased
Now this is the crux of real music, but
the listener must have some sort of musi-
cal experience to realize it.
A "jitterbug," youngster who must
sway to his hot" music, will know MOTH
ing of restraint in music, because his
5000 discs know nothing of it.
He may think he knows a great deal,
but actually he is acquainted only with
one type of music which has specialized
in movement with the lid off.
Restraint, from a musical standpoint,
means that the musician, whether singer,
instrumental soloist, or member of an
orchestra, has deliberately keyed down
his whole endeavor.
The automobilist who has car which
will go 80 miles per hour, but has never
run it faster than so, is showing restraint.
He knows the feeling of power beneath
the hood.
The listener who senses that his musi-
clan has something in reserve has an
even greater satisfaction
Even when the score calls for thun-
dering finish, the performance will be
much better if the musicians make no
attempt whatever to knock the bottom
out of their instruments.
The tenor who opens his mouth and
screams on his last note is not an artist,
no matter how much of "celebrity'' he
may be.
He is just showing off," as the little
girl did who sang They Cut Down the
Old Pine Tree for ten blocks without
stopping.
1t may be shoWmanship, but it isn't
music, at least not the best music, which
cannot get along without restraint.
It is automatic that the better the
musician, the more restraint he shows.
This quality is not to be confused with
conservatism. There is no particular
relationship, nor any need of any; true
musical restraint is shown utterly outside
the type of composition involved. The
true artist will show restraint in singing
lullaby, or conducting a symphony, and
she Or he will do so by singing or con-
ducting so that the music is not quite
SO much of whatever it is
This is not a hard thing to under
stand, but it seems utterly beyond those
listeners who have not had the expert
ence OF listening to restrained playing
and singing from the best artists.
The "jitterbug" previously instanced
is one who must move while listening to
music. Sometimes his entire body is in
volved, sometimes only his head, or
hands, Or feet.
Such listener will not know restraint
when he hears it. because he has lost
track of all other qualities in music ex-
cept movement. or rhythm.
This quality, by the way, is not to be
confused with Swing" which, as word,
has come to have in popular music a
totally different meaning from rhythm.
Many popular gramophone discs are on
Evening star., 1938-02-24
the market today labeled Swing" when

the market today labeled Swing" when
they are not swing" at all. The word, as
used now. simply means improvised mu-
sic, or lad lib," as the musicians say.
When you hear over your radio an old
tune which you once liked but which in
it's present rendition you scarce can rec
ognize, you may know that the musicians
are swinging" it, that is. swinging away
from the music, as written, and playing
it to suit themselves at the moment. If
it is intensely rhythmical, that merely
happens to be the spirit Of the age; it has
nothing to do with swing" and the
word itself doesn't mean a swinging tune,
or anything of the sort, necessarily. A
Sousa march is swinging enough, but it
isn't Swing" music in the present sense.
+ * X
Restraint is akin to Oliver Wendell
Holmes when he said that he didn't dare
write as funny as he could.
He had something in reserve.
Good musicians always have something
in reserve, and, curiously something they
never use.
This is because music is not physical
alone, but mental as we'll. Music is the
most curious art in the world, in that it
partakes of mathematics. pure science, on
the one side, and of all the emotions, on
the other.
Some listeners profess to find this
confusing situation, that a musician must
work with numbers, and yet may be a
fellow who will get angry at wrong note.
His science and his temperament, they
tell themselves, are hard to reconcile.
+ \ *
Yet it may be put down that musicians,
and real music lovers, are the most hu-
man of human beings, for they are honest
with their minds and also with their
emotions.
A musician is not ashamed of being
temperamental as others say. He knows
better than they do that the real mind
in music is the emotional side. That is
recognized by grave men of affairs, busi-
ness and military and political leaders,
who attend concerts with great regular
ity, because they recognize that at them
they will find honest emotionalism un-
ashamed, even proud Of itself, SO long
as it has worked with the laws of the
game first. Hearing music is one time
man may be honest with himself.
Z
A little French girl from Milwaukee,
made series of recordings in Paris.
Her voice was restrained. delicate,
beautiful, so that although the songs
she sang were of the hghtest sort, the
discs she made were works of art.
When she came back to America she
was told that singing Of that type was
not popular" over here.
The listeners. she was told, wanted
noise. and plenty of it.
Her records made "over here" are un-
restrained.
She yells where there is no need of
yelling. and when she doesn't scream loud
enough, the recording engineers. evi-
IDENTIFY, popped up her notes for her.
No more dramatic contrast can be
found than those old records and the new
ones.
The old ones are artistic. The new
ones are-well what America wants,
evidently, but pretty sad once you have
heard the others. Restraint is the core
Of music, the great secret of inner con-
tent and happiness, and sanity.