davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1938-10-05

have turned Up after a long de
cline. but show much irregularlty
All this is in the usual order OF
business cycles, and to that extent
is reassuring It is bullish in
formation of considerable signitl-
cance.
DEPOSITS LARGER
But there are also important
differences in the comparison with
1922. and some of these throw
much light on what is going on
in the land of the free and home
of the brave. Perhaps the differ
Ience in the level of bank deposits
lis the outstanding one.
Not only are demand deposits
now over so per cent larger than
lin the earlier period; they are also
completely and entirely out OF
relation to the banks loans. 1t
is the latter point which is most
directly significant.
1t shows us that bank deposits
now have very little to do with
business. Only a small part Of de-
mand deposits are "derivative";;
that is, derived from business
loans. Loans are not far from the
record low. while deposits are
closed to the record high. During
the past II months, commercial
loans fell about $50 million dollars,
while deposits rose about $40 mil
lion dollars. Last week, this trend
continued.
INVESTMENTS UP
This brings up the question,
what are the banks being used Tor
now? Formerly, their commercla!
or business loans were their chief
earning asset" and over 80 per
cent of their deposits represented
book credits extended in connec-
ton with such loans. What 40
bankers do for a living now?
What does the huge volume OF
bank deposits represent?
To find the answer, all you
need to do is to look for the one
item in the bank statement which
has increased as deposits have.
That is easy: 1t is the banks in
vestments" in Government obllga-
tions. The only main item in the
portfolio which has kept up with
demand deposits has been such
investments"
The trend continues, for in the
last twelve months, while deposits
increased 644 million dollars, the
obligations of the Government
held by the banks increased 752
million.
U. S. DEBT BURDEN
The point is that these "obliga'
tions" are just Government debt
They are the debt burden which
1 the present Administration has
!, saddled upon us.
How does this work out?
/ First, the Government" has es
tablished conditions which make
The Washington times., 1938-10-05
Forbes Predicts
Pe0cePrOspeTify
American Outlook Distinctly Better,
Writer Points Out
By B. G. FORBES

What effect will peace Europe have business here
First be accepted that European prosperity IT de-
velops, will enhance American prosperity
The Washington times., 1938-10-05

Loans have fallen to a very low
level. hut the decline is checked
and signs of an upturn appear.
are rising, and are at a
higD level. met re.
The Washington times., 1938-10-05
LOCAL BROKERS
TO ATTEND
P PARLEY, OCT. Is
White Sulphur Springs
Calls Big Delegation
By RICHARD r. BAKER


Washington investment brokers
are laying plans to form a large
delegation to attend the 1898 con.
vention of the Investment Bankers
Association that will be held at
White Sulphur Springs, Va, from
October 26 to October 30.
Y. E. Booker is TO head the
local delegation which will ioin
in a study of a four-point program
that will jam the session agenda
to the limit.
UNDER MALONEY ACT
The bankers will spend an en-.
tire day in the development of
Self-regulatory organizations under
the Maloney act, will consider pro,
posals for elimination of tax ex.
emption of Government and mu.
nicipal bonds, make a detailed
study of the manufacturing indus
try as it relates to investment
banking and launcn into a
"Streamlined" discussion of the
economic problems of the bank
ing industry.
George c. Mathews, Securities
and Exchange Commission mem
Der who is in direct charge of the
administration of the over-the.
counter market, will address one
OF the sessions of the convention.
x X X
NET EARNINGS GAIN
Net earnings of the Carpet Com
pany, Inc, for the first eight
months of 1888 have nearly
equalled net earnings for the entire
year 1887, according to Fenton
Cramer of Waggaman.Brawner,
The firm has earned SGT ,23O.45-
the equivalent of $3.15 a share on
the 21,343 outstanding shares of
stock-as against $76,307.94 for
the entire year 1887 when 1888 a
share was netted.
X 4
Tyler and Rutherford, Inc, local
representatives of the Mutual Ben
eft Life Insurance Co., of New Jer-
sey, has broadened its loan activi.
ties, offering building loans either
in conventional three-year first
trusts or on the long-term amorti-
7ation plan on property in the Cap
ital, nearby Maryland and Vir-
ginia.
JOIN ROBINSON FIRM
Charles P. Lukens, jr., and Aus
tin B. Rohrbaugh, former asso-
ciateS of Auchincloss, Parker and
Redpath, have joined the invest
ment firm of T. Baker Robinson
which has changed its firm name
to obinson, Rohrbaugh and
Lukens.
Mr.. Lukens has been associated
with the AuchincloSS firm for the
past six years, having previously
been identified with Halsey, Stuart
and Company. Mr.. Rohrbaugh
came to Washington in 1880 as
of the investment depart
ment of the Washington Loan
and Trust Company.
X X y
Robert V. Fleming, Riggs Ma
tional Bank president, will be in
New York tomorrow and Friday
to attend the two-day session of
the administrative committee Of
the American Bankers Association.
The Washington times., 1938-10-05

When the bottom fell out Of
activity here last year, other coun.
tries, especially Great Britain, suf.
fered from the decrease in our
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

MANY writers make a great TODD
AfA about exposure, SO that it seems
complicated. As a matter Of fact, for
most ordinary subjects out of doors,
1t is simple.
Light in very early morning or
late afternoon is quite weak, but
from an hour or so after sunrise to
about an hour before sunset, it is
fairly constant in its intensity. Dur
ing the middle daylight hours, cam
era loaded with chrome type or
''pan" type film, set your lens and
shutter al follows:
BRILLIANT DAY
Average subject, 1925 second and
I'll lens opening.
Open landscape, 1/25, ZIG.
Water or beach scenes, 1/25, f.22.
CLOUDY BRIGHT DAY
Average subject, 1/25, f.S.
Open landscape, 1/25, I'll.
= Water or beach scenes, 1/25, f16.
DULL DAY
Average subject, 1/25. f.s.3.
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23
Open landscape, 1/25, f.8.
Water or beach scenes, 1/25, f.8.

Open landscape, LIPS, f.S.
Water or beach scenes, 1/25, f.S.
When you must use a high shutter
speed, use a larger lens opening. Re-
member that 1925 second at fill is
the same as 1850 at f.8, and about
the same as 1/100 at f.6.3 or 1890
at f.4.5.
Follow these exposures this spring
and summer, and you won't go
wrong. II you use a box camera, take
snapshots on bright days only. On
a dull day, place the box came-s on
a firm support and give a very short
time exposure (one-half to one sec
ond, or about as fast as you can
work the shutter when on "Time")
using the small lens opening.
With any camera, when you are
taking pictures shortly after sunrise
or before sunset, you must use q
larger lens opening, or a slower
shutter speed. At such times, light
tends to be yellow and the "pan"
type film will be best as it is def
nitely faster in such light.
John van Guilder
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23
Behind The Scenes
In American Business

NEW. YORK, June 20-BUS-
INESS-American businessmen
were surprised to learn last
week that the present depress-
ion is more severe n the Uni
ted States than in any other
country, according to a report
by the Federal Reserve Board.
The Board pointed out how
ever, that manufacture of war
materials in foreign countries,
particularly England, Germany
and Japan, is mainly respon-
sible for keeping many factor
les ehumming. In America, fact
ory employent is still we'll ab-
owe normal in ten industries,
farm implements iron and steel
wirewOrk, cash registers, en-
gineS and ur bi e S, tools,
aircraft, women's clothing, bak-
ing, beverages and rayon. It is
significant that of these 10 all
but the airclaft industry are
manufacturing essen tial ! y
peace-time goods. Perhaps Am
erica will be enjoying prosper
ity when other countries are
busy paying for their arma-
inents.
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

of close to $4,000, 900 900 dur
ing its 1853 day session, the 18th
Congress ended last week with
a bitter Senate debate in the
final hour over whether the
Lobby Investigation COMMITTEES
should receive an additional
$12,500 to carry on its work.
The total appropriations are a
peace-time record, equal 10 ap-
proximately $4,000 for each
minute Congress was in SEES
sion or to $92 for each man,
woman and child in the coun-
try.
Bills passed during the SEES
sion which will have an I'M
portant bearing upon business
include: federal regulation of
wages and hours; $1,000, 000, 900
authorization for relief ana
public works; 81. 800. 100000 au-
thorization to the ;RFC for bus
mess loans; crop. control and
ever-normal granary; modifica-
ton of capital gains and un-
distributed profits tax; liberal
ization of FILA financing pro-
visions; granting of power to
SEC to pass upon reorganiza-
tions of industrial corporations.
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

uel machines at race tracks
Shipyards are twice g
busy now as they were q year
ago Two-thirds Of current
aeronautical production In Am,-
erica is for military equipment,
almost half is for export
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

Jimmie arrived Wednesday eve
ming. Mr.. Morris and Jimmie
drove to Cheyenne, Wyo., to
meet Mrs. Morris who hass pent
the last several weeks in Cal
;ifornia,
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

iei country.
HEADLINES - Hollywood in
the year starting July / will
spend $15o,ooo,0 900 TO produce
osa feature pictures, is serials,
and l78 shorts Three
Washington, D. c., department
stores have advertised in A
certain newspaper every day
without exception for SO years
-. Average retail price of wo-
mems all-silk hosiery has
dropped from $1.51 a pair for
period 1888 to 81 cents 49,.
Hidden taxes on a quar- Of
whiskey range from rs cents to
$1.05 IA major league bali
players shoes cost $40 a pair
and last only one season
$350,000,0o 0 or $2.70 per cap
ita, Is bet annually in parimut-
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23
PRIVATE ~SPENDING-Whi,

PRIVATE ~SPENDING-Whiie
the government gears its ma
chinery to spend more money
for relief and work projects,
AZ, 100000 of Americas motorists
will stage a spending program
of their own this summer, part
ing with ST, 806,000,000 touring
the U. S. from Maine to Mex
leo. This years rolling army
will be 10 per cent greater than
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

WASHINGTON - Although it
had made total appropriations
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

last year and the largest ever
to take the road, according &c
the 3. f.. Goodrich comnanv
which made the survey az ~.
nations 25.A1O.OO0 n ale
neeomoplles 1000 900 are en-
pSceed TO join the tourist nsr-
aue. Each tourist will spend on
asetage OF two weeks on Vac
s,on and travel 1000 miles ne .
liearIy two billion dollar ALL
~ vacation cash will keen ny
pne ne employed at 1900 hnfeiS
5O,QO0 tourist canns it IL
fsStaurants, $4,000 sSo +
nair stations and $4,000 e
view gadgets for the bows IN
nasr camping trip: a sbort aHa
thaate o. one piece of stee1 so
sl1at the head can't flv IN ~
waterproof canvas sIeena,a .
bag with f~ull-length zinnar ePlng
sant come uridone in IT,
hlght-time,a small hor Ihe
sigt1t which fastens to the belt
.ana Si1lnes red or green fov
s.sIiaIllne An apparatus for
!ur1igating furniture cons;rt.
Ing OF a transparent rt1hhs,
composition tent that FORMS On
alright chamber under uS;1foh
a can of fumigating gas Is
placed IA mans belt WITH
a upper pocket on the in:sr
side for bills and change
Lower prices for American NIL
mlentos as paintings exceed
pletlous record year by SO per
cent More home builders
specifying aluminium window
frames in their Instructions to
archltects and contractors be-
cause OF aluminum's non-cor-
ros1ve qualities and light Weight
-, mechanical refrigerators
which make carbonated water
as well as ice -. An electric
chair for chickens to eliminate
the old method of killing bv
decapitation -.
ROUNDABOUT CIRCULARS
When a business recession
sets in. advertising men have
to dig up novel ideas to pro-
mote merchandise and build
sales. Recently tie advertising
manager of a British shoe man
ufacturing concern sent to jIew
YORK by express, a package
containing 10000 letters which
had been printed and address
sed in London. U. s. postage
were affixed and the
letter mailed back to prospec-
tive customers in England. The
manufacturers theory, of
The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-06-23

course was that people are
much more apt to open and
read a. letter mailed from a
foreign country.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
Study Hamilton Traffic

Thirteen Works Progress Admins
tration workers have been assigned to
a comprehensive survey of traffic con-
ditions in Hamilton. The project
when all necessary forms and records
are prepared, will give employment to
As persons for nine months.
Survey field work will be under the
direction of Paul Gardner, assistant
city engineer, and Nelson Clinton,
resident w. P. A. engineer. Traffic
Sergeant James O'Connor of the Ham
ilton police department will assist.
The survey will include an analysis
of all accidents reported to police dur
ing 1885, 1886 and 1887 in which bodily
injury or property damage resulted.
There will be study of traffic law en-
forcement measures, of traffic flow
counts at various points in the city, of
speeds at which traffic proceeds, and
of traffic obedience and parking prob
lens.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
EAGLES INITIATE
ONE NEW MEMBER

One new member was initiated by
Butler Aerie No. 407, Fraternal Order
of Eagles, at its regular meeting Mon
day night in Eagles Temple. Earl j.
Maus, aerie president, presided. Re-
ports on the recent state Eagles con-
vention in Cincinnati were given by
delegates.
Final arrangements were made for
Boosters dance for members and
their families, to be held Saturday
night in Eagles Temple.
In communication from M. l.
Brown, state Eagles secretary, the
president and trustees of Butler aerie
were invited to a meeting to be hele
Sunday afternoon in Springfield.
The regular meeting of the member
ship committee will be held at 7:3(
o'clock Friday night in Eagles Temple
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
Installation Is Set
By MiddletOwn Post

Middletown, O.-Eli Jensen, Spring
field, Commander of the Ohio Depart
ment of the American Legion, will
speak and Ralph Young, Norwood,
District Commander, will install off
GERS at the monthly meeting of Mid
dletown Legion Post in the post home
October II. The meeting previously
was scheduled for October 10. The
following committee Of Legionnaires
will arrange for the annual observance
Of Armistice Day: Martin " Coffey,
chairman; H. K. Moore, Robert d.
Boykin, J M. Blair, Charles F. Will
more, John Anger, Harold o. Sebald,
Marvin Blankenship, H. G. Mulligan,
c. o. Pigman, Clyde Hackney and E.
A. Lampe.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
Bread Not Fattening,
Declares Diet Authority

If you are one of those people who
have to keep vigilant eye on your
waistline, you'll be glad to learn that
you need not and should not exclude
bread from your daily diet for fear
that it may increase your weight.
Bread is recognized by scientists as
our best and most economical source
of easily digested food-energy, neces-
sary in both upbuilding and reducing
diets, according to Mr.. Weik, chairman
Of the national information committee
of the baking industry in Hamilton.
Authority for these statements is
DR.. James A. Tobey of New York, who
declared, in a recent article: mo one
food is fattening when it is part of q
well-balanced daily diet. The only fat
tening food is too much of all foods.
for it is the total amount eaten daily
that may cause overweight, when that
total regularly exceeds the energy
needs of the body.
when bread is included in a sens
ible reducing diet, it supplies the right
kind of fuel for the proper and gradual
burning up of surplus body fat. The
valuable food-energy in bread pre-
vents the formation of harmful by
products which may be caused by too
rapid losses of body fat. The excel
lent carbohydrates furnished by bread
are a necessary protection in salts
factory reducing"
In commenting on DR.. Tobey's state
ments, Mr.. Weik pointed out that the
value of bread in reducing diets is not
guesswork. Such diets have beer
tested for number of years in lead
ing research institutions and found te
be both satisfactory and desirable.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
Voters Increase

Eligible voters in Hamilton have in
creased approximately 1900 since the
election last year, according to figures
available today, with the time allowed
for new registrations closed Monday
night.
1t is indicated by an early tabula-
tion of the registration figures that
there will be between $4,000 and % 600
persons eligible to vote in Hamilton
The tabulation of registrations in two
wards was completed, showing an in
crease of Ala voters over the 1897
total.
A last-minute rush of voters to reg
lister added 800 names to the lists, ac-
cording to Fred Stitsinger, Clerk of
the Election Board.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
TRADES COUNCIL

Cooperative Trades and Labor
Council met Tuesday night in regular
session with Vice President Carl
Brown in the chair.
DR.. Mark Millikin was allowed the
floor and gave the delegates talk
on the school on economics. The school
will meet every Thursday night.
Howard G. Carter was allowed the
floor and urged the delegates to vote
for the school bonds at the coming
election.
Jack Huber, representing the Ham
ilton Shrine Club, informed the dele
gates that his organization was en-
deavoring to put on tug of-war tour
nament made up of different organ
izations.
Ed. Dulli, representing the truck
drivers, reported that coal was being
sold and delivered in Hamilton by out
side dealers and with non-union truck
drivers. He appealed to the delegates
to purchase their coal from union
concerns.
The credentials of Arthur Craft to
represent Structural Iron Workers for
IL months were read and delegate
seated
James Mckinney, Ralph Lee and
Paul Blum, members of the newly-or-
ganized Paper Makers Union, were
admitted as visitors.
Representative of the Retail Clerks
Union reported on conditions regard
ing the organizing of the Penney and
Wilmurs stores, and they are going
to ask for decision on the injunction
case.
A communication was read from
the Ohio League to Preserve Democ-
racy and Elected Judiciary They ask
that a representative of the council
be appointed to attend meeting
which will be held Sunday, October 16,
at / 80 p. M, in the Neil House, CO.
lumbus, Ohio Stanley Ogg was
elected to represent this council. An
other letter was read from M. j. Ly-
den, president of the Ohio State Fed
Grafton, relative to the same meeting.
A communication was read from the
Ohio State Federation of Labor re-
garding the action taken by the ex-
ecutive board regarding the indorsing
of candidates for governor of Ohio.
The federation went on record and
will adhere to the traditional policy
and refuse to give Endorsement to any
candidate for governor or other state
office. This letter was received and
| the action of the executive board of
the O. S. F. of L. approved.
A letter from the American Fed
GRAFTON of Labor, William Green, pres
ident, was read He states that the
Social Security Board is now in po-
sition to give statement to each reg
istered person on the amount of his
credits on which his old-age benefit
will be based.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
TAKEN TO HAMILTON JAIL

Middletown, O.-James F. Rookie, SO
years old, Cincinnati, was taken to the
Butler County Jail by police to await
grand jury action on charge of hav-
ing obtained under false pretense
1000 from Mrs. Lena B. James, Mid
dletown beauty parlor operator Rocke
was placed under 1000 bond by Mu-
nicipal Judge E. H. DELL
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
AUTOIsTs UP 1,5OO

There are 1,500 more drivers in
Hamilton this year than in 1887, ac-
cording to drivers license sales by the
]. E. Humbach Company and the Cen
trail Motor Company since September
Is when sales opened. Humbach re-
ported sales of $1,000, compared with
$4,000 last year, and Central Motor
Company reported sales of 4,50O, COM
pared with 5000 last year.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
FREE ECONOMICS
CLASS OFFERED
AT YMCA THURS,

Fundamental economics and social
philosophy will be the subject of an
extension class of the Henry George
School of Social Science offered free
to the public in the Hamilton Y. M
C. A., beginning Thursday, October 13,
at 7:30 p. m., according to the an
|nouncement of DR.. Mark Millikin, sec
retary of the sponsoring committee.
The class will meet each Thursday
evening for 10 weeks.
The sponsoring committee includes
John M. Beeler, Don w. Fitton, Ralph
K. Beeler, Cyrus Fitton and Everett
E. Burdge.
The instructor will be Ed F. Alex
ander, assistant city solicitor of Gin
cinnati, who is also chairman Of the
Cincinnati sponsoring committee OF
the Henry George School
"No one can take this course" said
DR.. Millikin, without getting a clearer
understanding of why millions are un-
employed, why poverty persists with
plenty, why depressions recur, why
nations go to war, why labor and cap
ital fight, and host of similar ques-
tions of vital interest to every think
ing person.
"Since receiving its charter from
the university Of the State of New
York in 1882, the Henry George School
has grown from one room in New
York with "a students the first year
to a world wide institution with ex-
tension classes in more than 100 cities
of the United States and Canada and
in as many more cities of other coun-
tries from Great Britain and Den
mark to New Zealand and Australia
The new headquarters of the school In
New York City will alone accommo-
date 5000 students term.
"The school is non-profit institu-
| tion and no charge whatever is made
for tuition. It's purpose is solely te
interest people in the study of eco
monies as a fundamental science anc
to show the action and reaction of the
] fundamental laws Of economics in the
! life Of the world today. Its teachers
are business and professional people
! who serve without financial compen-
sation. DR.. John Dewey of Columbia
University is the honorary president.
"The textbook of the course, Prog.
ress and Poverty by Henry George
has been acclaimed by such outstand
ing leaders as Louis D. Brandeis, Al
bert Einstein, Nicholas Murray But
ler, Newton D. Baker and Clarence
/ DarroW.
"Anyone interested in getting 6
working knowledge Of Fundamental
economics is cordially invited to take
this course. Glass discussion methot
will be followed throughout. There i:
no required written work or exam
nations"
Students may enroll by attending
the opening session of the class or b!
writing to DR.. Mark Millikin, secre
tary, 81 South Second Street.
The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-10-14
O'Brien And Kettener
Attend Typo. Meeting

w. J. O'Brien and Roy Kettener
were delegates to the Ohio Typograph-
ical Conference at Maron on October
8 and 9, 1888. Both delegates were
appointed to important committees. A
resolution, indorsed by the central
body and Building Trades Council, was
presented to the City Commission ask
ing that no reduction be made in the
police and fire departments of Mid
dletown.