davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-07-07
JERSEY STANDARD
OFFERS BIG ISSUE
Action Brings Expectations
of Continued Activity
at Bond Houses.
By the Associated Press.

BY the Associated Press.
NEW YORK, July 7.-Announce-
ment Of the sale today Of $85, ,o0o, 900
in New securities of the Standard OIL
Co. Of New Jersey-the largest financ-
ing operation by corporation since
United States Steel sold 100000, 900
Of debentures early in June-brought
expectations Of q continuing busy
summer in Wall Streets bond houses.
The Standard Oil securities are be-
ing offered by a syndicate headed by
Morgan Stanley & Co. and consist Of
$50,o00,0 900 Of 15.year az per cent
debentures and $31, ,000, 900 of serial
notes due 1943-1947 and bearing in
terest from IA to az per cent, accord
ing to maturity. An additional $4,-
100000 of the notes will be sold pri-
vately.
This is the first large corporate
offering of securities of the month
and gives July fair start toward the
total of around $29O, 100000 in corpo-
rate issues offered in June-the largest
volume in year.
Other large pending issues, either
registered with the S. E. c., or now
being completed for registration, in
clude $32 900 900 in first mortgage 3R
per cent bonds of the New York Steam
Co., guaranteed by Consolidated Edi-
son; $10,0000,000 first mortgage bonds
of Public Service Electric & Gas, sub
sidiary of the Public Service Corp. Of
New Jersey; s3o,oo0.ooo in 3h per
cent bonds of the Southwestern States
Telephone Co.; $32,00O,000 in first
mortgage bonds and $6,000,000 in To-
year debentures Of the Indianapolis
Power & Light. and $4,000 900 in
debentures of Crown Cork and Seal
Co.
Details are also being worked for
between s6o,00o,o0o and SOS 1000, 900
in securities of Toledo Edison Co..
largely refunding.
Evening star., 1938-07-07
North american
Auiotion Reports
Profit of $2I2.O84

Special Dispatch to The Star.
NEW YORK, July 7.-For the three
months period ended March 81, 1888,
North American Aviation, Inc, re-
ported q consolidated net profit Of
$2l2.0s4.S4 after provision for esti-
mated Federal income taxes and after
depreciation charges amounting to
s4,sel.4s.
For the comparable period Of 1887,
North American Aviation. Inc, re-
ported q consolidated net profit OF
$es.o51 3s. after provision for normal
Federal income tax and after de.
probation charges amounting to $751;
306.41, but before including an &C.
counted profit Of $1,267.50 realized on
the sale Of securities. Including the
latter, the first three months Of 1887
showed profit Of $70,31S.8S.
No'provision has been made in the
aforementioned earnings for taxes
on undistributed profits
The untitled orders Of the engineer.
ing and manufacturing division al
March 81, 1898, amounted to $10,296,-
363.64 as compared with $6,013,S56.14
at March 81, 1887.
Evening star., 1938-07-07
BY the Associated Press.

NEW YORK, July buying in
.terest in railroad issues, especially
those of eastern carriers, featured the
bond market today and gains of to
4 points were shown by the more ac-
tive liens before profit taking pared
them down in the final hour.
Following the announcement yes
terday of the Interstate Commerce
Commission, granting eastern lines an
increase in passenger fares, the rail-
road list turned sharply upward at the
opening of the market and. the de-
mand continued most of the day.
B. & o. issues were up around 8
to 4 points at their peak, as We're the
active New Haven obligations. Other
prominent gamers were New York
Central SIS and Consolidated As, Penn
sylvania general 412s of '65, Southern
Pacific 4l2s of '68, Boston & Baine
434s.
New York City traction issues were
well advanced by the overnight news
favorable toward success in the long
efforts for unification.
= Industrials and utilities were fairly
steady. United States Governments
moved in narrow range. Foreign is
sues were slightly higher on the aver
age.
Evening star., 1938-07-07
NEW YORK PRODUCE.

NEW YORK. July LP.-Eges. 2o.144;
hrmer. Mixed colors. special packs. 22'.-
25hs: standards; 22A.1a; frsts. 21A-la;
seconds, 20A-21 mediums. 2OA; dirties,
No; l; 90 average checks. 10.
Whites resale of premium marks, 80
1872; nearby and Midwestern, premium
marks: 2sa4-31 "a; exchange specials. 24la-
2sl2; Midwestern. exchange standards, "a;
nearby: fancy mediums, 27ha-31; nearby
and Western, exchange mediums 26-27;
Pacific Coast Jumbo and premiums. .31la-
80: specials 30l2.3l: standards, 29i7-30:
mediums 27Aa-2SIa
Browns extra fancy. e6ls-a3: nearby
and Western, special packs 20.
Duck eggs, fancy. o1-22
Butter, 1.4s4,264; steady to nrm:
creamery. higher than extra, 26A-27; ex-
ira t92 score), 25a4-26 frsts (SS-9D. "a
25s4; seconds fs4-s7). 2O-23.
Cheese. 530,939. steady; prices un-
changed
Live poultry. by freight steady to nrm.
Fowls, colored 21-22. mostly %: Leehorn
5o-1s x ok GID ROSTERS, Is. Turkeys. hens.
BY express. irregular Chickens Rocks.
s0-eola Broilers, Rocks. 19-21la: crosses.
1922. mostly 1Si7-20: Reds. 14-l9. mostly
17-1s: Leghorn, lois. mostly 1s Fowls,
colored 21-22. mostly %: Leghorn. 1l-1e'
Dressed poultry .irregular Boxes fresh
fowls. 36-42 pounds. 1919. Other fresh.
all frozen prices unchanged.
Evening star., 1938-07-07
RUBBER FUTURES.

NEW YORK. July z lP,.-Crude rubber
September, 15.74-75: December. l5s0-s3
Evening star., 1938-07-07
FOREIGN MARKETS,
(Reported by Smith. Barney e. CO.

LONDON. July. institutional pur-
chasing Of British funds, coupled with the
sharp advance in American shares gave
the stock market firm tone today. Rub
ber shares were in demand and tobacco
and al metal groups closed higher. AL
mestic rails showed firmer tendency and
the oil and mining issues also moved up
of the day took place near the close.
PARIS.-Securities slid off in the late
dealings in the. Bourse and trading was
and lost 635 francs net. and French rentes
were down As to so centimes at the finish.
Suez Canal was of 100 francs. compared
with Wednesdays close and Royal Dutch
declined 40 francs,
Evening star., 1938-07-07

BY private wire direct to The Star.
Approximate Transactions Todoy.
Domestic Bonds 10.460.000
Foreign Bonds $4,000
U s Govt Bonds. 100000
Evening star., 1938-07-07
N. & w. LOADINGS RISE
TO NEW YEARS HIGH

BY the Associated Press.
ROANOKE, Va, July THE Nor
folk & Western Railway reported the
20.746 freight cars loaded on its line
last week set new 1888 high.
The loadings represented an in
crease of 2.377 over the preceding
week. but were s,613 behind the cor
responding week of 1887.
Evening star., 1938-07-07
WOOI,Uorth Sales
DOlCn AZ Percent
From 1887 Levels
By the Associated Press.

By the Associated Press.
NEW YORK, July June sales of
F. w. Woolworth Co. dropped Az per
cent from the same month last year.
1t was announced today, the total
being s23,l4S,530, against s24,236,e63
For May. sales were down 7l2 per cent
from the corresponding month last
year.
For the first six months the total
was S133055, ,491, against Sl33,879, 1872,
a decrease of 6 of per cent.
=, Sales of G. c. Murphy Co. in June
were S3,293,857, drop Of SO per cent
from $780, 1877 in May last year. May
sales were 1873 per cent under 1897,
while sales for the first six months
were AZ per cent under the comparable
period year ago. Company operates
q chain of variety stores in the East
and Midwest.
Evening star., 1938-07-07
DIVIDENDS ANNOUNCED

- NEW YORK. July dividends declared
(prepared by the Standard Statistics Coz
Initial.
Pc Stock of Pay
Rate. riod. record. able.
DunIoD IIt pt T & R Ltd 81. 81 e-ao s.ao
Gen Brew 60 CIV pf--15c @ 6-25 $50
Resumed.
Num- Bush Shoe CSC 7-15 7-3O
Liauidating.
Fed Knit Mills SIS I'll 7-2O
Reduced.
New Bed G e. Ed Lt75c @ II 1.15
Phil Insul Wire ------25c 7-15 81
Accumulated.
Ky Util IL jr pf - S7h 81 $50
No Action Taken.
Industrial Sec 81 pf
Strawbridge & Clothier 1G pf.
Evening star., 1938-07-07
FEDERAL JUDGE WEIGHS
PLEA FOR ERIE DELAY

Hy the Associated Press.
CLEVELAND. July Federal Judge
Samuel H. West took under advise
ment yesterday an application from
trustees Of the Erie Railroad for post
ponement from July 18 to October 10
Of the date for filing a reorganization
plan.
Evening star., 1938-07-07
NEW YORK SUGAR.

NEW YORK, July P,.-Susar fu-
tract holding steady on trade covering
promoted by the steadiness of raws. while
the No. was little easier owing to the
lower ruling of London.
July No. 3 sold UP to 1.1S and March to
193. or ! to 2 points net higher. March
at 95la, or / to ~ points net lower.
Futures No. 8 closed UNCHANGED to 1
Evening star., 1938-07-07
REPORT OF CONDITION 81 OF '' .
The McLachlen Banking
Corporation

OF Washington. in the District OF Colum-
1888
published in response to call made by
Comptroller of the Currency, under Sec
tion 52l1, U. s. Revised StatutesJ
Henderson daily dispatch., 1938-10-17

Dealer: North. Neither side vul-
nerable.)
North passed as dealer on this
hand and East bid 1-Spade. West
called 2-Hearts, East 2-Spades and
South diamonds. Neither oppo-
nent felt like proceeding further.
so the contract was played there.
In response to his partners bids.
West led the Spade @. When de-
clarer won this with the x in dunn
my, he Immediately laid down the
spade A, on which he threw the
club 5. West ruffed with the dia-
mond o and returned the club 2,
Copyright, 1888, KIM
Henderson daily dispatch., 1938-10-17
BARCLAY ON BRIDGE
WRITTEN FOR CENTRAL PRESS
BY Shepard Barclay
Tho Authority Authorities"
Tho Authority on Authorlties''

which East won with the A. East
continued with the club suit, lead
ing the 6, which South ruffed. South
then laid down the diamond A, cap
turing Vests K. The result was that
he lost one club, two hearts and the
trick ruffed by West, so that he
made his contract.
When East was in with the club
A, instead of returning a club. he
should have led another spade, as If
South held the A and K of diamonds
he would have led two rounds in
stead of using the spade A for a
discard in spite of the fact that East
had bid the suit twice.
Henderson daily dispatch., 1938-10-17
WHAT DECLARER HATES

ONE THING WHICH a declarer
usually hates to have you do is lead
suit which both he and your part
ner can ruff, your partner getting
last whack at the trick. This enables
your associate either to over-ruff
or conserve q trump, an option
which may mean the defeating of
the contract.
Henderson daily dispatch., 1938-10-17

copr 1853 King Features Syndicate. Inc.
Henderson daily dispatch., 1938-10-17

dealer: South. Neither side vul-
nerable.)
Against bidding of 1-Heart by
South, 1-Spade by North. 2-No
Trump by South and 3-No Trump
by North, why should West prefer
leading clubs to diamonds?
Features Syndicate. Inc.
Henderson daily dispatch., 1938-09-07

growers. In general, it is to be ap-
portioned among the States accord
ing to past production. Each State
allotment converted into terms of
acres) is then apportioned among the
counties according to past acreage.
The county allotments are given to
farmers primarily on the basis of till
ed acreage not used for tobacco or
provision is made for minimum al
lotments to small farms.
A marketing quota is to apply SUBJ
ject to final veto in referendum,
during the next marketing year when
ever the total supply of cotton is
found. to be more than 1O7 percent of
the normal supply, a total of about
10 1-2 million bales. The marketing
quota for any farm allows the mar
keting of all cotton produced on the
arms acreage allotment.
A penalty of 2 cents pound, will
apply to cotton marketed in excess of
the quota, except that no penalty is
to apply to cotton from any farm
with an acreage allotment which pro-
Henderson daily dispatch., 1938-09-07

part of their crop that would be SUBJ
ject to penalty if marketed is 60 per-
cent of the rate available to coopera-
tors. In this connection the cotton
loan value just announced has been
set at 8.3 cents per pound or 50 per-
cent of parity for the 1938-1939 mar
keting year.
The Governments investments in
the loans are protected by having
marketing quotas available to prevent
the dumping of SURPRISES and the
wreckage of prices. If the use of a
marketing quota for any year is pre-
vented by opposition of more than
one-third of the producers voting in
the referendum, no loan on that COM
modify can be made until the begin
ming of the next marketing year.
New Provisions For the Two Listed
Commodities Affecting Vance
County:
Following is a summary of the cur
rent situations and the way the new
provisions of the Act apply to cotton
and tobacco.
Henderson daily dispatch., 1938-09-07

COTTON-The Act applies direct
ly to problems that continually face
cotton growers. Some 10 million farm
people, on 2 million farms in the
South, depend on cotton as their chief
source of income. So do several mil
lion other workers on railroads, in
cotton gins, and in the textile mills.
From one-third to one-half of the
United States cotton crop usually is
exported. The 1887 cotton crop here
and abroad was the largest in history,
and the world supply for the market
ing year 1898 is the greatest on
record. The price TO cotton is set in
the world market and now is low.
Under the Act a national allotment
is to be announced each year in terms
of the number of bales needed to
make normal supply available dur
ing the next marketing year. The al
lotments for 1888 and 1885, however,
must be between 10 and II IL million
bales.
The Act specifies how the bale al
lotment is to be divided among the
Henderson daily dispatch., 1938-09-07

farmers who are dissatisfied and ap-
peal for a review
All quota provisions are subject to
termination in national emergency
and must be adjusted or suspended
to meet shortage in domestic supplies
or increases in exports.
Commodity Loans on any. agricul-
tural product Gncluding dairy pro-
ducts), to be made through the Com
modify Credit Corporation on the Sc
curity of the commodities themselves
are authorized
The Corporation is directed to make
loans on corn wheat, and cotton,
when supplies rise above specified
levels or prices fall below specified
levels. Rates to cooperating farmers
for loans on corn, cotton, and wheat
range from 50 percent to IS percent
of parity. This range permits loans
high enough to put a plank under
prices to prevent their collapse, but
not so high as to keep our products
from competing for export markets.
The rate to noncooperators ON that
Henderson daily dispatch., 1938-09-07

duces less than 1000 pounds of lint
cotton.
TOBACCO-The Act applies to six
different kinds of tobacco, each di-
vided into types, and each handled
largely as a separate commodity be-
cause it's problems differ from the
problems of the other kinds. For ex-
ample, the supply of flue-cured to-
bacco on hand in the United States
July l. 1887, was 1,733.000,00O pounds.
the largest in history, and 1870 million
pounds above the level of the previous
year. Despite favorite demand, con-
tinued production of flue-cured to-
bacco at level above consumption
would soon mean unfavorable prices
for growers.
Quotas are provided for the quantity
of any kind of tobacco marketed The
only acreage allotments are those es-
tablished under the Soil Conservation
and Domestic Allotment Act.
When the supply is more than los
Continued on Page Seven)
Henderson daily dispatch., 1938-09-07

,,articipatiOn of farmers in a
Ell m designed to hold surplus sup
pr If the five listed commodities
t.sso market until they are needed.
o. poIease of supplies withheld from
,.ot under marketing quotas can
'.,o6 TO meet any shortage.
rror insurance for wheat. start
18th the 1899 crop, will give wheat
rncers and bread consumers bet
nrotection against crop failure
inal accumulations of wheat paid
~ farmers as insurance premiums
Il = contribute to the Ever-Normal
srary supplies.
Referendum Provided.
essential point in the Farm Act
Va fact that when excessive sup
- nile up, producerS themselves
= the final say through referen-
y as to whether marketing quotas
tho five listed commodities are
10 used or not.
~ Years when SURPRISES call for
If marketing quotas. the referen-
j. must be held soon after the
.os are announced. If two-thirds
+bp producers voting favor the
J. 20 if will be used, but if more than
third of the voters oppose the
. j. if will not go into actual opera
i'm
-be Act provides that the A. A. A.
.rn, program in 1888 will be carried
= locally through the existing COM
,rtv and county committees that
= 20 performed this function in the
IA soil conservation programs of
'eG and 1887. In the future slight
.,,rqes will be made in the method
:. which farmers in county associa-
.;,rs choose the local and county COM
-:,taes Local administrative areas
-. n be established within counties.
. psrtcipating farmers in each area
Ill elect local committeeman, and
40 choose a delegate to county
nrvention. The county convention
vii elect the county committee. The
.,nntv agricultural extension agent
nil be. ex officio, member of the
annty committee, without a vote, and
way be selected by the committee as
Il; secretary.
IN each State there is to be State
smmittee consisting of not more than
TO and not fewer than three farmer
r,sidents of the State, with the State
nrector of the Agricultural Extension
service or efficio, an additional mem
hr.
Farm Income Protected.
Protection of farm income is a vital
Evening star., 1938-04-24

to relieve the Nation Of the shame Of
impotency to cure, when it pleases
the evil Of un-American, totally non
representative government. at the very
heart Of the Nation, the seat Of the
National Government. Conviction Of
present lack Of fitness of District resi-
dents for national representation, or
despair Of such fitness In the near
future, logically affects only the future
date to be fixed, when Congress shall
wisely and justly exercise this power.
1t has no logical tendency to delay the
ratification Of the amendment itself.
Congress should not lack the power
to Americanize the District, no matter
how long its judgment may impel it to
delay the actual exercise Of this power
when secured.
National honor is touched by impo-
tency Of the National Government to
grant national representation to any
well-populated, intelligent, resourceful
American community. Congress should
by constitutional amendment have this
power, for reasons affecting solely the
national prestige and irrespective Of
any immediate obligation to the peo-
pie Of the District. While proof Of
present fitness Of the District in popu-
lation and resources for national rep
resentation is, it thus appears, not an
indispensable prerequisite of adoption
and ratification of the proposed amend
ment. the demonstration of that fitness
naturally invigorates and strengthens
amendment advocacy.
"a second installment of the Senate
report will appear tomorrow
Evening star., 1938-04-24

York City. now Of the Park Central
Apartments. quipped:
The first thing I'm going to do
April 80 will be to get my pay check.
After that I am going to the polls
to ask for suffrage It's a fine thing,
an excellent thing for Washington
People here have never had voice
in their own government. 1t almost
seems ridiculous to an outsider. Every
one should have vote"
Sidney r. Katz of the c. I. O. told
the radio audience: Il certainly am
going to vote, because I think the
people Of the District of Columbia have
waited too long to have the right to
vote and help to run their own gov
eminent.
Although he has no chance to vote
in the referendum here Saturday, j. R.
Brown, who said he was a school
teacher in nearby Virginia. expressed
sympathy for the movement. and de-
clared every one should have voice
in his own government. Mr.. Brown
votes in Virginia.
Worries Of President.
The President of the United States
has enough to do without having to
worry over the municipal government
of this city, according to Benjamin
Jaffe of 635 Princeton place, who said
he would vote yes on the two questions.
Although he still has legal resi-
Nor,pp in Monnn 60 QnH CNfnc fhnrn
while living here at $500 Fourteenth
street. Pat Riley, when assured he
would not jeopardize his legal vote.
said he would be glad to ask for
District suffrage in the referendum.
Miss Lucille Lantz Of ll0l Fifteenth
street said she had only voted once.
in Huntington, w. Va, and believed
Washingtonians should have the right
to vote. She said she would cast her
ballot Saturday. 1T Is q very good
idea." she declared.
Opposing the idea Of District vote
were M. w. Collins, formerly of
Charleston, S. c.. now OF 1912 G street
NV; Martha Dau Mckee, who is
chairman of the Democratic absentee
voters bureau here for the State of
Texas, and a youth too young to vote
who gave his name as Edwin Berger.
The campaign for suffrage will come
before the District of Columbia Fede-
ration of Women's Clubs at ana inn
portant meeting tomorrow morning
at the Roosevelt Hotel. Participating
in the discussion Of the issue will be
Mrs. Horace j. Phelps Of the fedora
tions legislative committee in charge
of suffrage and Mrs. Lloyd w. Biddle,
president of the federation. This large
Evening star., 1938-04-24
PROBE IN DEATH
Macdonald Will Investigate
Infants Fatal injury.

Infants Fatal Injury.
Coroner A. Magruder Macdonald
yesterday announced he would make
an investigation into the death in
Providence Hospital of 23-month old
Martha Ream of Friendly. Md, who
was said to have suffered head injury
last January at her home. Dr. Mac
Donald said he did not know the cir
cumstances Of how the child was hurt,
but added he had heard she fell from
q window,
Evening star., 1938-04-24

organization Of Upmens clubs has
gone strongly in favor of votes for the
District.
Many meetings Of supervisors and
precinct chairmen will be held in the
next few days at various places
throughout the city to acquant the
workers with their duties on election
day.
Mrs r. D. Rands will speak on the
referendum over WJSV at 2:15 pm.
tomorrow. She is delegate to the citi-
zens conference from Sixteenth Street
Heights Citizens Association. Shep-
herd Parent Teacher Association and
Takoma Park Women's Club.
Evening star., 1938-04-24

Electric light Is not quite white
light.
Evening star., 1938-04-24
JAPANESE CLAIM
K|ANGSU VICTORY
Renewed Offensive Drives
Deep Wedge Into Lines
of Chinese.

BACKGROUND
The start OF the japanese drtps
to dominate the Lungkat rail lins
tn Central China resulted In tts
first crushing defeat on Chinese soil
at Taterhchpang. Reintorcements
rere drdton from other fronts and
the japanese Shantun1 campaign
aDdS reneUed.
Evening star., 1938-04-24
DARDEN TO RUN

NORFOLK, Va, April % (P.-Col-
gate w. Darden. jr.. Representative In
Congress from the Second Virginia
District from 1884 to 1886, tonight
announced his candidacy to succeed
Representative Norman H. Hamilton,
subject to the Democratic primary In
August.