davidaulloa/AmericanStories huggingface dataset:
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1938-07-07
Sleeping Sickness Reported

Local veterinarians have re-
ported several cases of sleeping
sickness among horses in the last
week. The number is not alarm
ing, however and there are not
AT present any indications of a
wide spread epidemic such as
swept the county last summer.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1938-07-07

the absence of any serious acct
dents.
Pictures aboUe Sholu the bal
loon ascension at the Redwood
theatre, 1Dith E. A. Johnson, D.
w. Buckley, George NJ. Hanson
and Econ Lauster IN the fore.
ground. Donald Crooks, Harold
Cuff, Merlin Fagen and George
Eckhart found the balloons and
obtained the merchandise prizes.
Erection of the Christy Obrecht
tent furnished amusement for.
youngsters IN the east part of the
city 1Uhile the beach had holi-
day squirt in business. The youths
IN the foreground of the loaoer
picture are demonstrating Iifesav-
ing holds. No one droUned.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1938-07-07
FIRE DRILL FATAL TO TEN

Lisbon, Portugal = up = Ten
boys died today when firemen
failed to rescue them from a four
story wooden structure set ablaze
to permit an exhibit fire drill.
Ten others were seriously injur-
ed.
Evening star., 1938-01-02
Optimism Is Found
To Be Warranted
In Viewing Future

BY Cambridge Associates.
Conservative optimism is warranted
in viewing the future from current
levels, according to A. w. Zelomek.
economist, International Statistical
Bureau and Fairchild Publications.
There is no logical basis for the be-
lief that the business decline of 1887
will degenerate into a major depression
in 1898.
"The credit situation continues IA
vorable; commodity prices are not in
flated: We are by no means at the
peak Of building boom: replacement
needs, particularly of heavy equip
ment, have not been satisfied; the
consumer has not been oversold on
installments; the rapid rise in labor
costs is not likely to be duplicated in
the near future; q collapse abroad
such as occurred in 1929-l932, is not
probable, and the Government has re-
manning sufficient powers to make it.
self an important factor in halting any
undue and prolonged liquidation.
Rather than looking forward to .
depression throughout 1898, 1t i
plainly more reasonable to expect Z
turning point in the not-distant fu'
ture."
Evening star., 1938-01-02
FREE TRADE HELD
KEY TO RECOVERY
Elimination Of Barriers Urged by
Foreign Editor to Re.
store ProsperitY.
Sy csmbridee Associates,

1y csmbridse Associates.
Stephen Bell. foreign editor of Com.
merce and Finance. urges elimination
of trade barriers as the key to world
recovery.
"A report by the Department OF
Commerce attributes the lag In world
trade and recovery to the fears of war
pervading all nations" he said. 1T
fails to attribute these fears of wal
to the lag in world trade, the prime
cause of which is the network Of trade
barriers which strangles the commerce
by which the nations live-the COM
merce which is the lifeblood of civiliza.
ton. since without 1t civilization can.
not live.
with the removal Of the trade bar
ners the problems of the have not
nations would evaporate, for all the
resources gf the world would then be
accessible to all nations through 8
commerce that would prosper anc
enrich all of them.
"This is what the world really needs
This Is what an intelligent and en-
Ightened world would have. To those
who have visualized a sane and con-
eistent political economy 1t is obvious
that the first nation that makes an
Independent advance to true CONNER
cial freedom, which sets industry free
rs well. will steal a march on its fet-
tered competitors, reap a rich reward
for its astuteness and become a pow
erful influence impelling other nations
to follow its lead"
Evening star., 1938-01-02
SOUND MORTGAGE
BASIS STRESSED
Bodhsh Declares Large Portion of
Loans Have Been Granted on
Uninfated Values.

BY Cambridge Associates
The savings and loan associations
start the year 1888 with $2,OO0.O .O0O. 900
of their s4,000,00OOO0 in mortgage
loans representing new loans granted
within the last two years, according to
Morton Bodfish, executive vice pres
ident, United States Building g. Loan
League.
Between $750,O0O,O00 and $1,0O0,-
100000 of this amount represents
mortgages on homes built within the
last three years." he declared. THE
greater part of these loans on new
homes were granted for the actual
construction of the building, while the
remainder represented the purchase
financing for the customer who bought
new house from builder.
These statistics converge to make
one significant point. that greater
portion of the loans being carried on
the books of associations today were
granted on uninflated real estate val
ues than has been the case since 1921
or 1922. Herein lies one of the great
strengths of the business should the
present recession take on proportions
greater than some of us expect
Meanwhile funds are available for
another lending year of substantial
proportions. New accounts were more
numerous in 1887 than they have been
since the great depression's beginning,
and the dividend record of associations
for the year end, which shows more
than 95 per cent of all the capital
invested in associations to be paying
dividends at the present time, is ex-
pected to give a push to the first
of-the-year new investments in the
associations"
Evening star., 1938-01-02
RECESSION AFFECTS
ALLIS.CHALMERS
Sharp Decline in Last Quarter of
Year Is Related by
Max W. Babb.

BY Cambridge Associates.
In common with other manufactur.
Ing industries in the country, Allis-
Chalmers Manufacturing Co. has been
affected by the present business recess
sion, says Max W. Babb, president.
For the first three quarters of 1897
the orders received by the company
both in the general machinery lines
which formerly constituted its prin-
cipal products and also in the tractor
and farm machinery division which
in more recent years has become PROM
lnent IN volume and results-showed
an increase over the same period In
1886.
In the last quarter of this year,
however, there has been a decline in
the proportion of increase over the
preceding year and in some lines the
volume has not equaled that of the
same period of 1886.
Among the principal purchasers in
the past from Allis-C Chalmers Manu-
featuring Co. of its old-line products
have been the railroads and public
utility companies. The present sit
uation of the former is exceedingly
critical and until that problem is
properly solved large volume of
business from this source is hardly
possible.
so far as public utilities are con-
cerned, with the rising power load,
there is definitely an increasing need
for expansion. The assurance of a
governmental policy which would en-
able the public utility companies to
meet this need with reasonable safety
would be most helpful in stimulating
business from this source"
Evening star., 1938-01-02
Efficient MARKETS
HELD IMPERATIVE
Regulations Which Check Normal
Flow of Goods Deplored by
Swift & Co. Official.
BY Cambridee Associates

By cambridse Associates.
Il have enough faith in the
resources of the country and in the
character of the American people to
believe that the present business set
back will not turn into a major de-
preston" declares G. F. Swift, vice
chairman of the board, Swift e. Co.
THE extent and soundness of any
business recovery which may be ex-
pected in the future will largely
depend upon the efficiency with which
our system Of markets is able to
operate. Under our system Of special
lied production, wherein one group
produces only wheat and another
group produces shoes. there may be an
interchange Of products If the wheat
grower is to have shoes and the shoe
maker is to have wheat.
The desirability Of regulations
which protect and insure honesty in
market transactions cannot be denied
However. regulations which impede
or restrict the free flow of goods and
services, of investment and expansion
impose tremendous burden upon liv-
ing standards which cannot be disre.
garded. Full employment would be
the best possible assurance against
economic hardship for large numbers
Of our population"
Evening star., 1938-01-02
PROSPERITY DISTANT,
MERLE THORPE THINKS

BY CAMBRIDGE Associates.
American business will continue to
move cautiously toward the still dis
tant goal Of prosperity, as long as full
play of its resources is qualified with
the disturbing variables of politics, 1"
according to Merle Thorpe, editor Ma
tion's Business.
willing and ready as trade and in
dustry stand to project their commit
ments and enlarge their operations,
their unhappy experience with official
sanctions Is bound to temper any up
lift of spirit from exchanges of views
with the powers in Washington.
If the Congress asserts its tradi-
tional prerogatives, business will have
substantial reason to hope for clarifi-
cation and settlement of the great is
sues now before the country. A con-
tinuing deterrent to recovery appears
in the petulant chastisements bu.
reaucracy administers to Legitimate
business while at the same time ex.
horting 1t to expand the opportunities
for employment"
Evening star., 1938-01-02
Harmony TERMED
VITAL FOR TRADE
Watson Says Efforts of
Business and Government
Improve Outlook.
Spec ial Dispatch to The Star,

Special Dispatch to The Star.
NEW YORK, Jan. 2.-The most
encouraging factor for the develop
ment of sound prosperity in 1888 is the
sincere effort that business and gov
ernment are making to cooperate with
each other, the result of which will
mean solving the problems that have
been holding back the development Of
American business declares Thomas
j. Watson, president Of International
Chamber OF Commerce and president
of International Business Machines
Corp. with continuation of this CO.
operation We need have no fears as to
the future prosperity of all of our
people
THE development OF better trade
relations with other countries is also
an important factor in improving the
prosperity Of our people, because every
one is affected, directly or indirectly,
by our export and import business.
Without substantial imports to assist
us in the making Of iron and steel,
chemicals, and a long list of other
products, it would be impossible to
keep our major industries in opera
ton. Without exports to balance our
imports our world trade would be on
an unsound basis
Evening star., 1938-01-02
FARM IMPLEMENT.
DEMAND MOUNTS
Larger Agricultural Cash
Income SWeIIs Sales
During Year.
BY Cambridge Associates

BY Cambridge Associates
Since sales Of farm implements al
ways correspond closely to farmers
casn income. 1t followed almost as a
matter Of course that 1887 should be
the best year since 1929 for the
makers Of agricultural equipment.
The fact that cash income was
swelled by big crops rather than
through top prices for small crops
also naturally tended to increase i'm
plement sales.
Seeming the prospects for a good
farm year, manufacturers-many Of
them previously concentrating in
other lines-laid plans early to profit
from improved agricultural buying
power. Many new developments in
farm machinery were brought for
ward. OF particular interest were the
smaller lower-priced tractors for use
on small farms and the same trend
produced smaller cultivating and har-
vesting machines. reproductions Of
expensive equipment, to sell at low
prices.
Besides enjoying a tremendously
improved home market, implement
makers have found the export de-
mand exceptionally good, although the
total Is still below that Of the years
from 1927 to 1881. For the first
quarter exports were running SO per
cent ahead Of that 1896 period, and
although the percentage increase was
shaded later. the net gain for the
year in implement exports will yet be
considerable.
Until a better line is obtained on
1888 crop prospects and the extent of
Federal payments to farmers there
can be no basis for a worthwhile fore
cast on the coming year. There is
still much buying power still in the
command of the farmers, however,
and the early months of the coming
year should be good for farm ma
chinery producers, although, perhaps,
not up to last year. One retarding in
f1uence may be the more conservative
credit terms which are being offered.
Larger down payments are being re-
quired on agricultural machinery and
the duration of the payment period
shortened as general rule.
Evening star., 1938-01-02
Bush Suggests
Labor and Capital
Exchange 'Aches'
BY Cambridge Associates.

BY Cambridge Associates.
Despite talk Of economy, business
will be fed during 1888 by continued
public spending, and will be encour-
aged by more friendly words from
Washington, declares Irving T. Bush
president of Bush Terminal Co.
I'm the end this political blood
TRANSMISSION will fail and imitation will
come. with the inevitable headache
which follows spree.
Capital needs a few backaches to
understand labor and labor a few
headaches to understand capital, while
reform needs to get its hair cut to
understand either.
Il think reform will get its hair
cut before long. but We are all likely
to have a bellyache before we build
again upon basis Of confidence in
each other and in those we elect to
Office.
meanwhile, the physical and
mental resources of the United States
will carry us through"
Evening star., 1938-01-02
TOO GREAT CONCERN
OVER SLUMP NOTED
Policies Should Be Founded on
Premise 1t Is Minor Cycle,
Editor Says.

BY CambridRe Associates.
Too much emphasis is now being
placed on the adverse side of the eco
nomic ledger according to H. N. Nc
Gill, editor. McGill Commodity Serv-
ice, Inc.
The cause-and- EFFECT equation will
always exist. and there has been no
hesitation on the part of the stock
market, industry. commodity prices
or the economic structure as whole
to pay the penalty for the adoption of
unorthodox policies employed in early
1897.
1T is now time to recognize the fact
that a great deal of water has passed
under the bridge and depressing ele-
ments are fast becoming thoroughly
discounted. Economic evidence tends
to indicate that the current recession
is primarily one of series of set
backs chronicled since the beginning
OF the revival period in early 1888.
Business policies should be founded
on the premise that downward trends
are in a minor and not major cycle.
The great mistake that will be gen.
orally made during the near term will
be in overstaying the short side. and
this applies particularly to commodity
prices"
Evening star., 1938-01-02
EASIER GOING is SEEN
FOR BUSINESS IN 1888

BY CAMBRIDGE Associates.
Compared with 1887 going will prob
ably be hard in 1898. but not so hard
as IN other recent years. declares Paul
G. Hoffman, president of the Stude-
baker Corp.
The automobile business has come
through the great depression with
products and sales forces in fighting
trim
Buyers are more discriminating in
times like these, but We are ready for
shreWd buyers. The whole automo-
tive industry is offering excess value
for the purchasers dollar. and this is
particularly true of Studebaker. We
call our 1888 cars our 'crowning
achievement and we mean just that.
I'VE know that business can be had
il we fight for it intelligently and
courageously. Millions of people have
the money to buy You have and I
have. It's up to you and to me to per-
suade each other to keep our money
circulating.
Business skies may clear rapidly
II you and I and others advance
bravely. This recession is the result
Of mental attitudes and not of money
shortage. overproduction, high prices
or similar factors which have brought
about depressions in the past"
Evening star., 1938-01-02
Pelley Sees Rails
In Bad Situation
At Start of 1888
BY the Associated Press,

BY the Associated Press.
NEW YORK, January ii. j. Pei
ley, president Of the Association OF
American Railroads, and former presi-
dent of the New Haven System, said
THE beginning Of the year 1898
finds the railroads Of the United States
In a serious situation. The prospects
with which they entered 1887
were not borne out by the results in
the last half of the year.
THE combination of reduced ton
mage and declining average revenue
with rising prices Of the things they
have to buy, higher wages and mount
ing taxes, created situation Of grave
concern, not only to railroad manage
ment but to the public which has a
direct interest in railroad service and
solvency.
There are hopeful elements in the
1888 situation. however The physical
condition of the roads is good; their
service is better than it ever has been
There is q growing public apprecia-
ton OF their progress and achieve
ments, and growing public realiza-
ton Of the nature of their problems. ~
Evening star., 1938-01-02
JUMP SEEN IN SALES
OF VACUUM CLEANERS
- %ba tad pracc

By the Associated Press.
CHICAGO, Jan. 2.-Electrical vac
uum cleaner purchases by American
homes reached a new record high in
1887 that will prove to be 10 per cent
greater than 1886 and 12.5 per cent
above the next best year, 1929, when
final figures are compiled, declared G.
G.. Frantz, secretary and treasurer,
Vacuum Cleaner Manufacturers As
sociation.
"The 1896 total was passed in Mo-
vember, 1897, and the figure for the
year just closing will be almost 1,670,-
600, compared to 1,510,953 for 1886.
'The third quarter of 1887, tradi-
tionally the lowest of any year, was
characterized by volume 308 per
cent as great as the total for all 1885,"
Evening star., 1938-01-02
PAPER PRICES HOLD
AT ADVANCED LEVELS

BY Cambridge Associates.
Paper prices. in common with other
commodities, advanced rapidly in the
spring, but not in common these in
creases have held up we'll.
Stability in the price structure has
largely been accomplished through re-
duced output, and the supply-to-d de-
mand ratio remains favorable at the
present time.
Always, however. in the background
there is an overproductive capacity
available to make prices OF most types
of paper sensitive to diminished in
dustrial demand and increased COM
petition.
On the whole. it seems that the cur
rent level of prices may be difficult to
maintain during the early months
of 1888.
Evening star., 1938-01-02
RAILWAY STANDARDS
DECLARED MENACED

Special Dispatch to The Star.
SAN FRANCISCO. Jan. 1.-The
new era of railroading, established in
recent years with new high standards
of service. must continue" says A. D.
Mcdonald, president Of Southern
Pacific Co.
THE public demands such improve
ments as the faster trains. new scien-
tifically' designed equipment and the
new service methods that have adapted
rail transportation more exactly to the
needs and desires of shippers and
travellers.
yet these standards, and the
existence Of the railroad industry as
private enterprise. are threatened by
the sudden increases in expenses that
came upon the railroads in 1887
without compensating increases in
revenues.
II am confident that a solution
will speedily be found to this situa-
ton"
Evening star., 1938-01-02
Scarcity Is Noted
In Needed Goods
Bv Packard's Head
Rxthe Associated Press.

BY the Associated Press.
NEW YORK, January 1-Alvan
Macauley, president of the Automo-
bile Manufacturers Association. and
Of the Packard Motor Car Co., said:
"What automobile production will
be in 1898 few would want to hazard
prediction. 1t could only be guess.
Much depends upon the condition Of
general business and, conversely, much
depends upon the automobile indus
try for the well-being of general busi-
ness.
There exists big scarcity of
needed things. It is growing steadily
as these things wear out faster than
they are being replaced. There is
need for volume of labor in the
making of useful and needed things
that would give employment to every
one who wants work. Just as soon
as all retarding influences that have
slowed up the employment Of this
needed labor are removed, America
will be launched into q new era Of
prosperity.
Evening star., 1938-01-02
WASHER SALES CLIMB
TO NEW HIGH LEVELS

Special Dispa tch to The Star.
CHICAGO. Jan. 2.-The members
OF the American Washing Machine
Manufacturers Association produced
and sold more household washers and
ironers in the first 10 months of 1887
than in any full year of the industry's
history, with the single exception Of
1896, according to Joseph r. Bohnen,
executive secretary of the association.
The total for 1887 will be close to
100000 or within less than per
cent of the 1896 all-time high. which
was 1.909,4l6 washers and ironers,
he said.
THE year just closing is the fifth
successive .000-washer year our
industry has enjoyed"
Evening star., 1938-01-02
FUTURE Of COLOR
MOv|ESPONDERED
Producers Awaiting Anx.
ious|y to Determine What
Role They Will Play.
By Cambridge Associates.

BY Cambridge Associates.
Just as anxiously as the amuse-
ment world is watching current thea
ter receipts to determine the effect OF
the slump, it also is attempting to
discover whether the splash of color
that apparel on the movie horizon
last year is threat or a promise.
This phenomenon. of course, was
observable before last year. but its far
wider use in 1887 is making molion-
picture moguls wonder If the picture,
Becky Sharp" which was the fore
runner of the current resurgence of
color, will be proved by time to have
been another jazz Singer" revolu-
tionizing the industry of movie max
ing, adding to its costs and creating
new technical difficulties, as we'll as
a new box Office appeal.
On the whole the disposition is to
60 ahead slowly until it can be deter
mined whether color has more than a
novelty attraction. Although vast
improvements both in methods and
ASobASo AAuSC ONCAl ulK
last few years, a few chronological diff
f1culties remain to be ironed out and
the cost Of color will be held excess
sive for all productions until its
drawing power can be proved unmis-
takably.
With more money in the hands of
the public, theater attendance was at
high levels during 1887. The Holly
wood output both in standard and
quantity was high. There was an at
tempt in the fall to raise admission
prices. but generally this proved
abortive. Consequently, the earnings
OF the producers and theater opera
tors for 1888 are likely to fall well
below the generally high average of
1887. since reductions in the costs of
movie making and theater operation
cannot be quickly reduced.