davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-06-20
SCOTT PAPER VOLUME
SCARS ABOVE YEAR AGO

NEW YORK, June 2o.-scott Paper
Co., Chester, Pa, announced that
the volume of shipments for the
first five months Of 1888 was 1853
per cent larger than in the same
period last year.
Sales. the company states, do not
seem to show any definite effects of
depressed business conditions although
there has been . normal seasonal de-
cline from the record volume OF tbs
FIRST three months of the year. Pro-
duction Is being maintained ut the
high level established earlier In the
season.
The Scott Paper Co. plans install
lation Of another paper machine and
additional expansion Of plant and
production facilities. The directors
have authorized the proposed expan-
sion, provided contracts for all work
and equipment can be placed at sub
stantially lower prices than those cur
rent at the time Of the company's
1887 expansion which increased Scott
Paper Co.'S capacity by is per cent.
On June / Scott Paper Co. had
1896 stockholders, the greatest num-
Der on record in the history Of the
company.
Evening star., 1938-06-20
LIVESTOCK PRICES
EXPECTED TO GAIN
Steady to Higher Trend in Hogs
and Rise in Better Grades of
Cattle Forecast.

Steady to higher prices for hogs and
= sensational advance in prices of bet
ter grades of slaughter cattle are in
prospect during the summer months,
the Bureau OF Agricultural Economics
said today in summarizing the hog
and beef cattle situation. The extent
OF the price advances, however. will
be affected by the weak consumer de-
mand for meats.
1t is believed that the number OF
cattle slaughtered during the secone
half OF this year will total about the
same as in the last six months OF
1887. 1t is likely that considerably
more steers will be slaughtered. the
bureau said, but the number OF cows
and heifers slaughtered probably will
continue much smaller than q year
ago, even though the number increases
seasonally during the pext three or
four months.
A seasonal reduction in hog mar
ketings Is probable during the next
Two months, the bureau said, and
storage stocks Of pork and lard are
relatively small. Supplies during the
summer, however. are expected to be
larger than the small marketings last
summer. On June 20 the bureau will
release its report on the 1888 spring
pig crop.
Evening star., 1938-06-20
fallen into disrepute and some Of them
into the extreme speculative classih-
alton.

fallen into disrepute and some Of them
into the extreme speculative classih-
cation.
Changes Necessary.
There is no substitute for the will
ingness and ability to revise judg-
ment a. to the soundness Of either
an investment or q loan. In fact, 1t
Is the capacity Of the banker to do
just that for himself that makes a
banker. The bank examiner cannot
do it, nor can the Legislature, nor the
controller Of the currency, nor the
chairman Of the Federal Reserve
Board.
Whether Mr.. Eccles is correct or
not, the fact Is the only benefciaries
Of the superabundance Of credit Gre
ated by Government fiat are those
who need 1t the least. Standard Oil
Of New Jersey is about to float q bond
issue Of fairly long term with q 2sl
per cent coupon. The price has not
been announced at this writing, but
no one doubts that the offering will
be eagerly absorbed, chiefly by insti-
tutional investors.
Similar financing by other large
corporations at record low costs has
been overwhelmingly successful. Small
businesses, in which the administra-
ton processes to be most interested,
are unable to borrow at all. II there
is remedy 1t ought to be invoked
tCopsrieht. 1898, by the North American
Newspa per Alliance, Inc)
Evening star., 1938-06-20
NEW YORK LIVESTOCK.

NEW YORK. June 20 lR Estate De-
City and New YORK livestock markstsl -
about steady: one load good to choics
fsd 1.Si6:pound rennsylysniass: 1925;
$50. Bulls steady; top sausage, 6.7b;
few 700; lightweight cutter down to 4.75.
Is hishsr; bull i9x sgts 4 Spd a. cutter. S.fS
most Common % ana medium tat COWS. 500.
6.7t; best stable feds, 100, ,.,,.,nu
1870 direct vealer demand sloy. s5
s.sS; ,msdiSm s.o6-ss; g; Gun snd com:
good 325-pound killing calves, 7.26; light
weight cuils down to $50.
Qe0 direct. spring. lambs 25 to mostly
IL iiShtasisht ha and hsndywsisht % soutSerns, iSs
10.60 to mostly 1878; bycks LOO less;
strong to 50 higher; Gull to good shorn
Hcss. $500. including o.sl0 direct.
Market steady; 1SS-pound average. $40.
Evening star., 1938-06-20
CHICAGO LIVESTOCK.

CHICAGO. June 20 .lF, Omitted States
prices Of cattle. opened very slow today
deflniteiy lower: Lambs. on the contrary.
pulled sharply higher and hogs were fully
'. Hogs, $4,000. including $500 direct;
thoroughly active; steady to 10 higher
than Frfdays average; mostly steady to
na st5ons to s2s soed az choice l7o;SosSo oS
9.1O: 2sO-32B pounds s.66-p0; good 400
500 pounds packing sows. 7.b0-90; LIGHTER
Cattle. Il 900: calves, 2.oop:, largely
steer run; moderate supplies strictly good,
choice and prime steers and yearlings
here; market very slow: mainly 26 lower,
but water nils very LIBERAL; few .outstand-
ing loads: medium weight ana weiRhty
steers promised to sell about. steady. but
all others tending lower ~ shippers. order
buyers and local killers strive for lower
down; tnstances 25 on: cows weak to 26
lower; bulls steady to Is down. With best
standing heads 6.S5; vealers $3.50 lower
at 900 down: mostly 1908. 80.
Sheep. 5000. including 5000 direct;
old crop clipped lambs active; $3.50 high
er; top 70 cents above Fridays average;
good to choice. 44.194 pounds AVERAGES,
$751; .66. according to kind; medium as
pounds Texas offerings $50: few good
springers. 9.65-75; choice scarce; few
hold well above 10 90: sheep strong; native
slaughter ewes. 3.25-75.
Evening star., 1938-06-20
BANKS HAMPERED
! BY RIGID RULES
EccIes Attack on Federal
and State Policies Is
Held Justified.
BY GEORGE T. HUGHES.

by 1EUAOE i. HUUhES.
Special Dispatch to The Star.
NEW YORK, June 20-There Is no
doubt that Chairman Mariner 8.
Eccles OF the Federal Reserve Board
is right in ascribing to the Federal
and State bank examination policies a
part of the blame for restriction Of
credit for small local enterprises. Every
small town merchant will support the
charge.
The position of the banker is un-
derstandable. The banking collapse
of the previous depression is fresh in
his mind and that is true Of the
average bank examiner also. The
latter. however. is too often needlessly
technical, with the result that perfectly
good risks are refused the credit they
need and must have If general recovery
is to be brought about.
Over -Cautiousness Hit.
The truth of the matter is that no
hard and fast rule can be made to
insure sound banking policies in regard
to either loans or investments. In
1929 the banks were too liberal. In
1898 they are too conservative There
are exceptions of course. but the sys-
tenn suffers at present from over
cautiousness fostered by the regula-
tions the bank examiner things he
must abide by.
The situation illustrates the difh-
culties inherent in regulation itself
Take the matter of the bond rating
manuals. which formerly were relied
upon to insure bank investments from
falling into the speculative category
The old rule required an investment
rating from two recognized manual.
before bond could be purchased.
The trouble Is the ratings do not
stay put. Just now. railroad obliga-
tions. once considered beyond sus-
picion. suitable for widows and or
phans." indorsed by law as proper
for savings banks. termed money
bonds" meaning that their market
price fiuctuated only with changes in
the current charge for money, have
Evening star., 1938-06-20
REGULAR TAX REVENUE
FAR ABOVE YEAR AGO
BY ths Associated Press,

BY tht Associated Press.
NEW YORK, June 20.-With the
end Of the Federal Governments fiscal
year only 10 days OF. the daily Treas
ury statement shows an increase in
regular tax revenue Of approximately
one billion dollars
The increase was divided more or
less equally between income tax re-
ceipts and social security (old age)
levies
Income tax receipts, of course, were
based on the relatively high rate Of
income last year. The next fiscal
year will reflect the slump in profits
of the past eight months
Total general receipts through June
13 follow:
1888 fiscal year----- 1866 .000, 900
1887 fiscal year S4,668, ,O00, 900
Evening star., 1938-06-20
Foreign Producers
Agree to CurtniI
Output of Tin
Py the Associated Press.

~ the AbSOClAteQ PreSS.
LONDON, June 20.-The 1nterna-
tional Tin Committee today placed the
production quota for the quarter be-
ginning July / at IS per cent Of basic
tonnages. Malaga Dutch East Indies,
however, was allotted IN per cent
above standard tonnages.
The committee also aereed to the
revised draft of the buffer stock plan
The next meeting will be held at The
Hague op September IL.
Last week members Of the copper
cartel also revised production sched-
ules downward In an effort to cope
with falling prices and rising stocks.
The tin quota in the second quarter
was IS per cent Of standard tonnages
and in the first quarter was 10 pei
cent.
Evening star., 1938-06-20
INCREASE is REPORTED
IN LUMBER PRODUCTION

BY the Associated Press.
The National Lumber MAnufactur-
ers' Association reported today 528
mills. during the week ended June
IL, produced 3,948, 900 feet of lum-
Der compared with 173.982, 900 feet
produced by S57 mills the previous
week.
Shipments by the 52S mills during
the week ended June IL totaled 1884,
7SS.000 feet and orders booked
amounted to 1so.S92. 900 feet. COM
pared with shipments by the. 557 re-
porting mills the previous week Of
7l,l45.o 900 feet and orders Of 1el.-
888, 900 feet. .
Evening star., 1938-06-20
LARGER BENEFITS PAID
BY EPISCOPAL FUND
By the Associated Prsss,


NEW YORK. June 20.-The church
pension fund Of the Protestant Espis-
copal Church is paying benefits ap.
proximately ~ per cent greater than
originally promised. according to its
2oth annual report. issued today.
William Fellowes Morgan. ST.. is presi-
dent. and j. p. Morgan. treasurer.
The report shows assets with a
book value Of $32, ,90s, ,53s and a market
value 100000 in excess of that
figure rs Of December 81, 1897. As
sets exceeded actuarial reserve lia-
bilities at that time by approximately
$3.000.000. The average interest
earned on the mean ledger assets for
1887 was 3.44 per cent.
Total annual pension roll now
amounts to. $l.30s, 900. according to
Bradford B. Locke, executive vice
president. compared with $670, 900 10
years ago.
Evening star., 1938-06-20
SMALL GAIN SEEN
N.CHT0N MILLS
May Operations at 1913 Per
Cent, Still Far Behind
Same 1887 Month.
~ the Associated Press.

~ the Associated Press.
The Census Bureau reported today
the cotton spinning industry operated
during May at s.3 per cent Of capacity
on a single shift basis, compared with
S5.7 per cent during April this year
and 1877 per cent during May last
year.
Spinning spindles in place May 81
totaled 26,520.730 Of which 2l,341, ,750
were active at some time during the
month, compared with 26.539, ,440 and
21.7S6,054 for April this year. and 26.-
s86,1s7 and 24,659,296 for May last
year.
Evening star., 1938-06-20
Maximum, Salaries
Set for Trustees
Of Erie Railroad
~ the Associated Press,

The Interstate Commerce Commits
sion fixed $4,000 today Is the maxi
mum annual salary for Charles Z.
Denney, and $4,000 for John A. Had
den as trustee Of the Erie Railroad,
now in process Of reorganization.
Denney Is the former president Of
the line and Hadden Is q Cleveland
lawyer. The commission also fixed
the maximum salary for H. A. Taylor,
trustees counsel, at $4,000.
Evening star., 1938-06-20
METAL MARKET.

stssdy elsssroiytie ns SPOT 20 e.oo eHport
scs S;sS: TIN frm; spot end nearby. 4f.70;
1vo.Trardi vavr II d41.75 Lead steady: spot. New
Zinc steady; East St. Louis spot and for
vrard; 400. Pig iron, No. 2. fob. Eastern
r.. r. 25;0O: Buffalo. 24.00; Alabama, 1000,
antimony. SPOT. 1900. Quicksilver. SO 90.
rntaonum, pure. $500. Wolframite. 1900.
1900 nominal
Evening star., 1938-06-20
BOSTON WOOL MARKET.

BOSTON, june 20. 0e.-(pnitsd States
INQUIRIES for wool were being received to-
day by Boston concerns. Asking prices
cSsrsspo9t cHI spot wool, IN this market was un-
feported steady on bright fleeces offered
from the Middle West through Boston
Evening star., 1938-06-20
New Orleans Prices.

NEW ORLEANS June 20 OP-cotton
trades here today under active buying
stimulated By strong foreign markets and
unfavorable weather in the belt
July contracts opened at S:5a; October
s.61: December. s.66: January. s.6f,
March, s.71 and May, a.T4.
Trading tapered OF but offerings con-
hrst half hour renewed buying carried
active months IL TO 13 points above the
Cottonseed oil opened steady July.
z Ash: September. 74ob: October. 1.47b:
December. 7.45b: January. 7.47b. Bid.
Evening star., 1938-06-20
new YORK COTTON
b the Associated Press.

By the ASSOciated Press.
NEW YORK. June 20.-Cotton con-
tinued its advance today under more
active buying. including demand from
abroad. the trade and Wall Street.
October sold up from $50 to $50
and in midafternoon was quoted at
8.55. with the list IL to IA points net
higher
Futureg closed lola higher
Evening star., 1938-06-20

Wabash Railway Co.-Deficit four
months ended April 80. was $685.
s0S, against deficit Of S27s,4l3.
Evening star., 1938-06-20
C0ttonseed Oil.

Cottonseed Oil.
Bieachable cottonseed oil futures
closed Tia higher. Sales. 100 con-
tracts. July. 799b; September, sO0b;
October. 500; December. 797b; jan
uAry, 797b. Bid.
Evening star., 1938-06-20

Caterpillar Tractor Cod Common
share earnings, I'VE month"; ended
May II, fwers II cent?, against 93.e4.
Evening star., 1938-06-20

reorsanized under the Bankruptcy Act OF
securities assumed by such companies.
are annual disbursements based on the
last quarterly or semi-annual declarations.
Unless otherwise noted special or extra
dividends are not included
Also extra or extras. Declared or
paid 50 far this year. no regular rate.
Payable in stock. & Paid last year
paid or declared this year. WV with war
rants. XIV Without warrants war War
Evening star., 1938-06-20
FREIGHT LOADINGS.

trelsht .esriosdinss% % On railroads. REPORTING
today TOR the week ended June 10 In
Evening star., 1938-06-20

eAlsQ extra or extras
gpA1d last year.
Evening star., 1938-06-20

NEW YORK BAR SILVER.
NEW YORK, June 10 t43.-Bar sil.
veF. 43x. unchanged.
Evening star., 1938-06-20
INSURANCE STOCKS

NEW YORK, June 20 R.-Investment
Bankers Conference, Inc:
Evening star., 1938-11-13

Teamwork the most striking feotue Of the work Of the
Of the lighthouse tender Violet Here they launching
the lton bell buoy which the ship eored the PopIor
sond hoos The buoy reody to be Ioosed from the cobes
By which the huge swung It overboord
Evening star., 1938-02-28

zation against the industrial chaos of
the Coast as they see it. Mr.. Langlie.
amiable, college bred, good speaker
and organizer, with receding black hair
and bright, black eyes, has been an
eager champion Of the new youth
movement during his several years on
the Seattle City Council.
Mr. Meyers, reelected lieutenant
governor in 1886, is known only as
Vic out there. He is happy clown or
clever satirist, whichever way you
want to figure him. He is former night
club bandmaster, who has campaigned
in the costume of Mahatma Gandhi.
on a program of sax appeal" prom
ising to install hosteSses on street cars
and carry streetsweepers on the pay
roll as wallets de rue" In 1882 a
newspaper, wishing to burlesque a
stale campaign. headed him into his
candidacy for the lieutenant governor
ship. His japeries elected him by q
big ma ajority. He conducted his Office
seriously and with dignity. In 1886.
he was reelected by a vote of 2O9,257
to l6,015 for his opponent.
(Copyrisht. 1889
Evening star., 1938-02-28
Christianity's Crisis
Schuschnigg Risks Career, and Life, in Resisting
Nazi Perversion of Church.

Reich. Of the Holy Roman Empire
says: Germany must be Christian.
Those were not his words on Thurs
day, but that is the basic implication
of the fight for Austrian independence.
AN abyss separates Austria from
Naziism." I quote again the words of
Schuschnigg, not on Thursday, but
stated early last month. I'VE know
but one God. And that is not the
state. or the nation, or race"
1t is for that conception that Austria
is fighting today.
ITemember that Hitler. whose sword
in 1923 was of very rickety wood, said,
III people but desire freedom,
weapons will grow in their hands"
Austria's ally today is the con-
science of the world. But perhaps it
has gone permanently to sleep. If 1t
has-What does her victory or her
defeat matter?
Curiously, the struggle will deter
mine, one way or another. the i'm
mediate fate of several million men
and women of Jewish blood in Austria
and the surrounding states The issue
whether Germany is Christian or
pagan will decide the fate of the
Nuremberg laws.
Nazi Program Is Clear.
The Nazi program for Austria Is
clear. First. one disarms the coun-
try in its struggle for public opin-
ION. tHoW much the Germans have
learned from the Allies in the last
warD Pivotal places in the govern
ment are already in the hands Of
Nazis. The press of Austria must
not be allowed to attack Naziism.
One gets foothold, and then
bores from within "a Communist
tactic. How much the Nazis have
learned from the CommunistsN That
Is the way the Nazis conquered Ger
many itself
One begins an anti-Semitic CAM
paign. The Jews are the enemies!
Thus one diverts attention. Already,
in Vienna. new anti-Semitic news
paper is on the street. to scare the
children with pictures of the bogey-
man.
communist menace suddenly
rears its head. 1t is reported that
revolutionary Socialist pamphlets are
being circulated in Austria. I would
like to investigate the sources of
those pamphlets.
Nazis Need Communist Excuse.
A Jewish menace and a Bolshevist
menace are necessary to establish
a Nazi excuse for armed interven-
ton. But the same trick cannot be
pulled repeatedly over and -over.
Austria is already lost to democ-
racy. Two dietators together, from
two neighboring countries, saw to
that a long time ago.
Perhaps the German "Fuehrer"
knows this. For it is curious how
desperately. afraid he has become of
the circulation. of ideas outside his
own country. He wants England,
now, to control its own journal
lists! Foreign correspondents sent to
Berlin must be ''accredited' by the
German government. If they do not
speak Nazi language they will be
put out-unless their own govern
ments will discipline them.
Copyright. 1898, New York Tribune. Inc
Evening star., 1938-02-28

and democrats, capital and labor,
science and art-all, all capitulated.
Only at the doors of the Christian
churches, Protestant and Catholic, was
the wave opposed.
Only from a few Christian pulpits
have come daring voices. The voice
of his eminence, Cardinal Faulhaber
of Munich. The voice of the Prot
estant pastor, Otto Niemoeller Of
Berlin, now on trial before the Nazi
courts.
And these voices were backed up
three months ago by most amazing
document-the manifesto to Hitler
of the chaplains of the German
Army, in which the leader of the
Reich was warned that his fight
against Christianity was demoralizing
the army, and dividing the German
people from one end of the country
to the other.
That document never appeared, of
course, in Germany.
Dramatic Struggle in Progress.
Now a dramatic struggle is going
on in the Germanic world. The strug-
gle is no longer as between democ-
racy and dictatorship as between the
one-party and the many-party state,
no longer is it an issue whether or
not Germany will have equality in
Europe-the rest of Europe must
ask whether Germany is to have
dominance and control, not equality.
The issue in the Germanic world,
precipitated by the events in Austria,
is not even, in the first line. the issue
of Austrian independence. 1t is
whether the Germanic world is to be
Christian or pagan. whether the
Church of Christ in Germany is to be
universal church. open to all men,
and representing universal principles,
or whether it is to be mere instru-
ment of German racialism
1t is not a small issue. but funda-
mental one. For allied with it are
all the fundamental questions Is
government to be based on law. or to
be purely arbitrary? Is citizenship to
be based on race, or on willingness to
collaborate for the national welfare?
Is justice to be anything which serves
Germany or is it to take account
Of principles which have been written
into western law for hundred of years
Schuschnigg Fights for Christianity.
Schuschnigg. German. speaking in
Vienna. a German city, city which
ruled the Germanic world for a thou
sand years-the capital of the First
Evening star., 1938-02-28
Boston office and talked jobs there at

talked jobs there
talking of cabinet post for Sena-
Robert La Toilette They want the oeu and extremely
intelligent Wisconsin Progressive the color Democratic orthodoxy
former Republicans Secretary Henry Wal
And they would like La Toilette dressed Democrat
they need second string to their bow for 1910
The the recent NeW York dinner
Attorney Jackson. They beiepe
candidacy badly
people think and they things him. But they
AFRAID to place their Uhoe reliance
Toilette warmly left
Dealers with He combination being both
experty practical politician political
markabe
him popular with his radcas
while unmpeachabe the
In the last Toilette
the Guild dinner Whatever their political
his listeners found his for dollars"
eXcingy aggressive and remarkably thought %
willing listen Toilette talk
chair could cabinet
La Toilette.
In the Committee Industrial Organizations
collar far the interesting the
The large insurance probably
interests in the country and they combating
with considerable
the Sde0sts L.. to
startling erpdnt They concentrating all their efforts
"feld collect
holders The hope to bring the field agents.
then use them to obtain ootng the picyhode
mutual insurance companies.
The of