davidaulloa/AmericanStories huggingface dataset:
Evening star., 1938-04-22

thee last Gays He President
enemies OF the
nome Or he But his unwilling
ness TO
oe traced informal poll conducted
eaoeshp which shows clearly
bill ~ ~
And while Mr. Dcuphton pondered horrid dilemma
not has of
builders American politics
Senator James F. Byrnes
eo statesman Bernard M Baruch logs
and applied
Harrison and Senator Byrne
OF N1r baruchs
ana capital
senate
ton b which Senator through the senate
ana no" senator brought
happened to be Washington report
the undlstrbuted
JoblesSness wv ' Va
Too cynical Interpretation sequence of events
aHhoush the three frebulders of
would hnd in long walk the " remains
Just 10 make things little bit
surprising division
lock In private the President described the agitation
against the undlibud profits
screen yet he revision at ALL On the
ohr hand Of
the passage of the House bill compromise his object
Evening star., 1938-04-22

years the industry has been constantly
expanding, and has, nevertheless, raised
practically no new money. Now it is
ready to absorb a huge amount OF
fresh capital and translate 1t imme-
diately into construction work that
would create great activity and equal
or exceed in It's effects the whole
pump printing program.
Due to the fact that the utility
industries turn over their money only
about once in five years, as con-
trasted with general manufacturing.
which turns it over, normally, more
than once in IL months, there is many
times as much capital behind every
gross dollar in utilities as there is In
ordinary business. and, therefore, the
cost Of money becomes the first or
second most important item in the
utilities costs, and the price Of money
is decisive factor.
Ideal Time to Finance.
| Inasmuch as world wide monetary
| policies, plus those of this administra-
ton, have created the cheapest money
rates in two generations, the last years
an ideal time to finance utilities, and
to raise money both for bonds and
preferred stocks, and for common
equities.
The latter money, money that will
take risks. is especially needed The
utilities don't need to increase their
debts. They need to increase their
working capital
The reason why the utility indus
try is suffering from capital anemia
Is not because money is scarce. It is
plentiful. Not because rates are high.
i They are the lowest in history.
1t is suffering because the investor,
be he large investor or a small one,
won't buy utility stocks. Why should
he? Would you? \
Government Policy Needed.
All that is necessary to rehabili-
tate the utility industry is Govern
ment policy. Almost any kind of a
policy. But policy. A clear policy.
The utility problem can be solved
expeditiously and easily, provided there
is desire to solve it. and not to keep
alive power issue for the benefit
of politicians. But one suspects that
the Government prefers a power issue
to recovery, just as French states
men"-save the mark-after the war
preferred reparations issue to re-
/ covery.
The Government, if it wants solution
and recovery. can take one or two
courses. In areas where 1t is operat-
Evening star., 1938-04-22

SS@ Official FINANCE" Is
- phrase which has been
quietly eased into the news
lately almost furtively, it
would seem, as the reform ticket gains
complete ascendancy in the stock
exchange, but with off-stage tension
and whispering
This writer, venturing into that his
toric cave Of the winds, found the
| Street articulate only in whispers. many
Of them sibilant sWipes at the REFORM
ers, from the conservative wing. The
| leaders of the former group are ac-
| cVsed Of Overexertion in getting them
selves wired in" with powerful political
forces. But Wall Street, jolted by
l'affare Whitney and the laws Of
| economic gravity, wants friends and
customers. and reform, regardless Of
its political Affiliations, goes ahead
under full steam.
The reform forces are personalized
in tall bronzed, energetic, shock haired
Paul V. Shields, comparatively new
and fast conner in the Street. 48 years
old. but listed with the up-and-com-
ing younger element" For five years,
he has been regarded as the principal
driving force behind the renovatOrs.
He is said to be in high standing with
the administration and the S. E. c.,
and that burns up some of the old
guard, who always find somebody ring
ing burglar alarm when they go to
Washington. Last week, the Exchange
Nominating Committee dropped all
the old guard and included Mr. Shields
on its ticket as nominee for the Board
of Governors for a two-year term, as
non-member but firm partner
governor.
A native of St Paul. Mr.. Shields
attended Cornell University. sold real
estate in Floral Park. l.. l.; served
as an ensign in naval aviation in
the World War. worked for Merrill.
Lynch in the brokerage business in
Chicago and founded his present firm,
Shields e. Co, in 1928 1t is now one
Of the most important wire houses in
the country.
There is note for the psychology
class in the fact that the Wat Tyler
Of the stock exchange revolt named
his racing yachts Challenge and Rebel,
He is one of the foremost yachtsmen
of the country.
(Copyright 1889
Evening star., 1938-04-22
About Loans to Utilities
Definite Federal Policy Would Release Private Money
and Remove Need for R.FC. Aid, SAYS Observer

ing it can create q power pool, on the
English pattern, which means, simply
stated, to throw all power interests
public and private, generating plants
and transmission lines - together,
make quasi-public corporation, val
orize everybody's investment and save
the Government from running any
project like the T. v. A. at an enor-
nous operating deficit, paid for by you
and me.
Or, if the administration has decided
that Government should acquire large
areas for public operation, then define
the areas for 10 years in advance and
establish policy OF buying out the
present investors progressively, pay
ing dollar for dollar of invested cap
ital.
The Government can, Of course,
compete in certain areas with the
private utilities, and then buy them
out at third or fourth of cost.
Can Buy At Fire Sale.
It can bankrupt them and buy
them at a fre sale. But this Is an
idiotic procedure. Because 1t will
simply mean that in areas where the
Government is not operating. where
it cannot operate. at least for many
years, where private industry must.
therefore, furnish the services, 1t will
be impossible to get money Who is
going to invest in an industry that
may be forced next week or next year
to its knees?
may add that when the British
took over certain private utilities in
connection with setting up their power
pool or grid, they capitalized earning
prospects. a much more generous ar
rangement than is proposed here. and
the socialist economist, Ernest Davies,
in a pamphlet dealing with the prob
lem of the transfer of industries from
private to public enterprise recon-
mends that compensation should be
based on a combination Of capital
valuation plus the potential earning
power OF the concern.
But unfortunately our policies are
made by people who are often sadistic
anti-capitalists, without being any,
thing so clear-headed as Socialist.
They seem to think that the way
to socialize any industry is first to
bankrupt 1t and then socialize the
losses
What the consumer wants is cheap
power: what the taxpayer wants is
public enterprises that pay for them
selves without his annual subsidies,
and what the private investor wants is
little economic security. But we
guarantee bank deposits and turn
utility investments into lottery tickets,
and expect the public to exchange
their guaranteed money for sweep
stake bet!
Were this problem Strengthened out
you could raise a hundred dollars Of
private money for every single dollar
that the utilities will borrow from
the r. F. c.
1t Is interesting to observe that the
New Republic which has warmly
supported the New Deal. agrees this
week with the thesis of this column:
That the spending program is chicken
feed.
The basis for an increase of public
investment can be found. 1t was near
ly found in early autumn Of 1886, be-
fore the Power Pool Committee was
suddenly dissolved. We respectfully
suggest that Congress demand that it
reconvene Its members were Owen
D. Young. Thomas Lamont. Louis
Weahle and Alexander B. Sachs.
,Copyrisht la3s New York Tribune Inc)
Evening star., 1938-04-22


Remarkably showing Field Marshal
specting the German aviators predomnate
In all the border towns the word being passed along that
mammoth demonstration will take
that the police will allowed Hitler
interfere local authorities
being help along FIenlein
Hler lieutenant become quite CzecholoVaka
Mussons
for the conclusion OF friendship the French first
could
of 1885 realized this will
difficult At French Premier blessings
Musoini Ethiopia
Abba railways
made But things changed Muson occupied the whole
Ehiopah
opposition
the be
n
talking dAfares
Italian
world05
himself there
O legitimate interests Of Il Duces subjects.
Evening star., 1938-04-22

HOUSE always has
FantaStaiy enough.
ponS TAX MI Herman Olphant, TO
the Treasury to accept exactly compromise
myS left-Wing general counsel
capital
ne points out that levy capital
ductive than levy profits
mus confusion nd
middle OF the
Ills way WIN the TAX DILL II
are so eager to get home primaries pretty in
pocng triumph for Harrison.
whatever is. probably
tCopyfisht 1853 by the North n)
Evening star., 1938-04-22
The Capital Parade
Roosevelt Seeks Tax Bill Compromise With
Appearance of Victory.
BY JOSEPH ALsoP and ROBERT K1NrNER.

BY JOSEPH ALSOP and ROBERT K1NTNER
his
semble old
ming World On OCCASION Chaplin
hcusy explosive particularly
question The himself
hurled cut OF the nterviewes
You go back Chaplin he story,
'and tell that fellow he can't ntmidate
presidential
ing the retention of the undribued profits
their BILL order of the
Doughon OF North Carolina is called Muey'
olgh stubborn not
uncomfortable Capitol Hill
and Means Committee
Evening star., 1938-04-22
This Changing World
Nazi Crisis in Czechoslovakia Believed Near, With
Der Tag Rumored Set for Next Month.

CONSTANTINE BROWN.
that the suengs the 32500O
~ hardest hit.
But strange as the Reich has been responsible for
the plight of live Bohemia.
economic self sufcency Germany played with its
bors who have entered into the spirit trade
Furthermore the which
item Czechoovkias national been
regulations ordered the
in Berlin Thus German weekend tourist not into Czecho
ovaka with than $ So official
shop cannot get that
Tactics similar those used Austria before the Anschss
indicating that Der Tag off
skful tell those who still hesitate
before late that those who until the
diffclt the refugees
did
Evening star., 1938-04-22

AiS NoIu IidS gone out lflat ne
Will approve compromise in which
the capital gains tax will be sacri-
need. while the principle of the
undistributed profits tax will be re-
tained. 1t is on the undistributed
profits tax that the public attacks
have been concentrated, and thus
such compromise would have the
appearance of victory. The Presi-
dent dearly loves the appearance of
victory, as every man in the White
Evening star., 1938-04-22
Nv DOROTHY THOMPSON,

THE latest proposal that the r.
F. c. lend money to the util-
tiles is just another, measly
Il dose Of aromatic spirits OF
ammonia to heart whose illness
needs immediate diagnosis and real,
curative treatment.
Utilities are a IL to l3 billion dollar
Evening star., 1938-04-22

which private business allegedlv has
not been able to take up The alter
native is insistence now on the making
Of plans for transition policy so that
there will not be another recession"
or depression" but a real recovery.
(Copyright, 1881
Evening star., 1938-04-22

Industry IN this
country. T h e y
need about two
billions Of new
money. One rea-
son they need
money is due to
past abuses, TO
capital write-ups,
which have, how
ever. been drain
ed off in the
course Of the last
eight years. The
other reason is
due to perfectly
normal xpa n
sion Tn eight
Evening star., 1938-04-22
WILL SAIL FOR u. S.
Famous Jesuit Priest Hopes to
Raise Chinese Aid Fund.

SHANGHAI, April % (P).-Father
Jacquinot, red-bearded, one-armed
French Jesuit who has become famous
in 20 years Of mission work through
wars and revolutions in China. plans
to sail for the United States May 2.
He hopes to raise funds for China's
millions of war refugees and wishes to
see President Roosevelt
Organizer of the Nantao safety zone
when the Chinese Army began evacu-
ating Shanghai he was credited with
saving the lives of $4,000 Chinese
men. women and children who found
refuge there.
Evening star., 1938-04-22

heed similar warnings last winter.
As a result of this campaign
the border Is in state Of effer-
vescence. The Praha Government
still forbids the display Of the
swastika and the He'll Hitler salute
is still taboo.
But there is not a single town
along the German-Czechoslovak
border in which you cannot find
piles of photographs of Der Fuehrer
and flags with the swastika are
stored by the hundreds of thou
Evening star., 1938-04-22

gram no steps
were taken to
bring about pri-
vAte spending as
a substitute when
Cover n m e n t
spending tapered
of.
Are such plans
being made now?
Can any assur-
ance be given
that when the
present $4,500,-
900. 900 Of pump
printing" is fin
lshed, priv va t e
business, will be
Evening star., 1938-04-22
Legion Program Tonight.

The Cooley Mccullough Post Of the
American Legion will present pro-
gram of entertainment at the Naval
Hospital tonight at 73o o'clock
Charles Kohen will be master OF
ceremonies
Evening star., 1938-04-22
Plan Outlined
for Help to
Business
Changes in Policy Are
Held Needed to Bring
Real Recovery.
Ry DAVID LAWRENCE.

BY DAVID LAWHENVE.
r Unless pump printing is to
be adopted as permanent
policy of the Government it
~ may be assumed that its pur-
pose is temporary and only to stimu-
late the operations OF private business.
During the last pump printing" pro-
Evening star., 1938-04-22

The fact is that House men,
oers have been hearing from their
districts on the tax bill. Whatever
the validity of the claim that the
undistributed profits and capital
gains levies are harmful to busi-
ness, belief in it is widespread
and religious.
X X X
The unpleasant choice con-
fronting the unhappy Mr.. Dough-
ton has often been explained in
Evening star., 1938-04-22

Admiral Ducci told the Sena-
tors that dozen submarines-the
most modern ones-have a cruising
capacity OF 10000 miles. That is
to say that they could travel from
any Italian port to Somaliland by
way of the Cape Of Good Hope
without refuelling The British
admiralty and the French navy
department are concerned over this
formidable force which Mussolini
has heen h,,ildino for the last six
Evening star., 1938-04-22

formidable
to
practically
a away 'front.' O. actu operations
Evening star., 1938-04-22
Krescent Klub to Dance.

The Krescent Klub will hold an
informal dance at the Powhatan
Hotel tonight at O'Clock. Music will
be furnished by the Arcadians.
Evening star., 1938-04-22

HE opinions OF the ,Drtters this their
necessarily The stars Such opinions presented IN
The Stars e1ort to gDe all sides questions interest
readers although such opinions be contradictory among
themselves and directly opposed to The Stars
Evening star., 1938-04-22
Headline Folk
and What
They Do
Shields Is Driving Force
Behind Renovators
in Wall Street.
BY LEMUEL r. PARTON.

SSD OLITICAL FINANCE" Is a
- phrase which has been
quietly eased into the news
lat al
Imperial Valley press., 1938-05-17

ture, expected to be called by Gov.
Henry Horner this week, as the on
ly hope for funds to get relief ma
chinery in working order by June.
Meanwhile the federal surplus
commodity administration will sup
ply foods it has available - rice,
navy beans, dried apples, prunes
cabbages, potatoes, oranges and per-
haps butter. Those must suffice for
three meals a day, Relief Commits
Sioner Leo M Lyons said.
1T won't be a balanced diet" he
said, but its the only thing we
have to offer. Even that supply may
last only a week"
He made special credit arrange
ments with milk companies to
supply milk TO the children of the
$4,000 families which will not re-
ceiVe aid checks and orders this
month.
Fifteen hundred of the admins
tration's 1900 employees will be dis
missed tonight. The city's 10 dis
trict relief stations will close tomor-
row. Skeleton staffS will be main
tanned to answer requests for en-
ergency medical care.
Imperial Valley press., 1938-05-17
Building Permits
Here Rise Again

Building permits in Ell Centro rose
again Tuesday with granting of five
applications which boost the 1899
total to S126,420.
Leading the list was a $4,000 per-
nit issued to Mrs. E. Alice Richard
son for construction of a dwelling
at 727 Ell Centro street. The con-
tractor is J. S. Beardsley.
Other permits include a 500 adj
dition to the home of L. K. Tyler
BIS He'll street, a $100 permit for
remodeling the front Of the Malt
Shop, STA Main street. repairing $50
fire damage at 240 Orange street,
and $50 permit to replace a foun-
dation at 492 Sandalwood, issued to
w. H. Rhodes.
Imperial Valley press., 1938-05-17

Shorty trains horses for Charlie
Pitzer, and some folk say he knows
a lot about horses that PitZer has
forgotten. Certainly he knows more
about the horses. mules and colts
about the stables than anyone else.
and they love him, because Shorty's
their pal.
Shorty's nick name is, not mis-
placed. He can almost walk erect
under a horses belly without mus
sing his hair, and frequently does,
with a calm unconcern for horses
bad" reputation. Thirty years ago
he was a jockey and booted em
home on l!aryland tracks but:
Il spilled twice, and quit before
spilled the third and last time.
would have kept on racing if they
would have let me carry a para
,hute!'
Shorty's favorite pastime is
schooling the colts. He claims it is
lighly important to handle them
while they are only few weeks
old and teach them early not to
Min Vi L-lt. Ills lIith 10 lIlt
scratch system, which is really
1 com bination of equine massage
md Swiss wrestling. 1t is a marve
20 watch him work. Siding past a
Mares flank Shorty will ease up
10 jittery colt and slide a hanc
over the neck. Then the scratching
begins and in two minutes the
colts heart is won.
Sometimes the scratching does
MT work quite according to Hall
as with one mule colt named Abner
Abner, almost as big as Shorty
took him round and round the cor.
raj before the colt succumbed to
the haSty scratching. In the mean
time, Shorty was in a precarious
position, for the other colts were
enjoying the miniature wild WeSl
show by following in Shorty's wake
nipplng the nearest portion of his
Imperial Valley press., 1938-05-17

anatomy.
After a colt is used to being han
died, Shorty recommends teaching
him to walk at halter and an
sWer whoa
Let them walk round and round
YOU, then yell whoa and make
them stop. They get used to ii
after awhile. After a few weeks OF
this l try putting an old army
saddle and bride on EN- and let
them get used to the equipment in
the corral. Then when you slide or
their backs for the first time ii
doesn't surprise them so much
In sharp contrast to tie action
of horses in ordinary corrals, Shor-
TVS wards gang up on a visitor
and almost frighten him with affec-
ton by poking out soft noses. Even
blank faced mules come numbering
up to give greeting. The tip-off
comes when Shorty enters a corral
with carrots protruding from a hip
pocket. Then there is a regular riot.
Some day Shorty is going to lose
his pants.
Imperial Valley press., 1938-05-17
SCOUTS PARADE
BEFORE BOARD

Ell Centre Boy Scouts who will
receive awards at the Court o.
Honor Friday night, passed before
the Board Of Review Monday night
at the court house. with Ralph
Reynolds. chairman, in charge.
Other board members were Her.
bert Holt, John r. Adams, ana
Hugh Wilcox, scout executive.
The Court Of Honor viii start al
7:30 pm. Friday, at Wilson school,
with Rev Devon Ellsworth in
charge. 1t will be sponsored by
the American Legion and awards
will be presented by Legionnaires.
A three-reel motion picture of
Yosemite National Park will be
shown by Fred Nebel-Thau.
Tickets for the Court of Honor
may be obtained from all Scouts
free of charge.
A similar Board of Review, head
ed by j. F.. Martin was held Mon
day night in Holtville. Dean Field,
assistant scout executive, was pres
ent. The Holtville Court of Honor
is scheduled for May 90, in the
grammar school.
Imperial Valley press., 1938-05-17
Brawiey Police
Hear of Thefts
From ; Victims

BRAWLEY, May 17.-Three thefts
were reported to police here, two
Of them being of clothes.
Salvador Chacon, 897 K street
told police that someone entered
his room two or three nights age
and stole pair of gray gabardint
pants and wallet.
Theft Of four or five dresses. sew.
cral Slacks, two coats. and one shor,
nit coat was reported by Mary
Brown of Miller apartments.
The third report came of Geor2t
Nolan, BraWley, who advised Off
GERS that a l6-inch new belt hac
been stolen off Of a combine at the
Culley ranch, located about two ano
a half miles southwest of BraWley
Imperial Valley press., 1938-05-17

Malcolm Macdonald. 37-year -old
dominions secretary and son of
the late Ramsay Macdonald, was
promoted to the increasingly i'm
oortant cabinet post of colonial sec
retary in reward for his. negotia-
tion of the recent Angio-Trish
.rade treaty after six years of
stormy controversy and his smooth
handling of domilionS relations.
Macdonald. a national laborite
cather than a conservative. replaces
William George Ormsbv- Gore, who
last week became Lord Harlech up
on the death of his father and was
kicked upstairs to the House of
Lords.
OrmSby- resigned because of
MS inability to continue repreSen-
tation of the colonial office in the
Imperial Valley press., 1938-05-17
Loan to Railroads
Opposed in Senate

WASHINGTON, May II CUP)-
Chairman Robert F.. Wagner, D.,
N. Y, of the senate banking and
currency committee today opposeo
the proposal for liberal govern
ment loans to railroads in view o.
the roads effort to obtain a Is
per cent wage reduction.
Wagner Joined a growing bloc OF
senator's which has voiced opposi-
tion to the loan program becaust
Of the wage cut proposal.
Imperial Valley press., 1938-05-17
l.. A. Girl Victor
In Talk Contest

SAN JOSE, May II GUP) Cath
crime Bourland, II, Of Los Angeles
last night won the statewide pub
tic speaking contest conducted by
the Native Sons of the Golden
West
She gained a to vote over
Elizabeth Hoyt of Sacramento.
The finals were held before the
5lst grand parlos of the Native
Sons. which opened yesterday and
continues today.
Imperial Valley press., 1938-05-17
Spain Battlefield
Turned Into Mud

HtNDAYE, FRENCH SPANISH
FRONTIER, May II CUP)- Rain
and hail turned the Aragon battle
fields INTO mud again today but
the Nationalists claimed to have
advanced further through the last
Loyalist main defenses guardine
Castellon Province and the coast
Valencia. former Loyalist capi
tai, was the Nationlists' objective
and the new drive was undertaken
detplr the bad weather. Eleven
divisions were operating over a
100 mile front from Teruel to the
Mediterranean.
Imperial Valley press., 1938-05-17
Socialist Student
Killed in RiOtine

MEXICO CITY, May II CUP) =
Students planned ceremonial
funeral today for Homero Con
zalez. l8, member of the Socialist
youth organization killed in a riot
Yesterday.
Gonzalez died of wounds last
night. He and other Socialist stu,
dents took possession of the pre-
'paratory school and the law schoo.
Yesterday in a clash with Other
students. Police ousted the Social
iSt students.
Imperial Valley press., 1938-05-17
House of Commons.

House of Commons.
Macdonald. in his new post. will
have an important role in dealing
with Fuehrer Adolf Hitlers de-
mands for restoration of Germany's
War-loSt colonies when Chamber
lain and Foreign Secretary Wis.,
count Halifax turn to realistic"
negotiations with Germany.
The chief incentive for Cham
berlain'S shake-up was Thursdays
forthcoming air defense debate in
the House of Commons and the
danger that many of the 100 gov
crnment supporters who abstained
from voting Thursday night, when
the government won a 299 to l3l
vote of confidence on air armament
might swing over to the opposition
Chamberlain. it was understood,
sought an even more drastic shake
up but was restrained by his prede-
ceSSor. Lord Baldwin of Bewdley,
whose advice he sought last Friday