davidaulloa/AmericanStories huggingface dataset:
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

To The Editor:
After reading Mr.. Monsalvatge's
article in last Mondays Citizen
entitled I'VE Need A Federal
Loan Bank" and his pledge TO
the voters of Monroe County to
seek the establishment Of such a
bank, it is very apparent that Mr..
Monsalvatge either did not know,
or was misinformed as to the ma
ture of such an institution.
| A federal savings and loan bank
/ is not something to be gotten
from the Federal Government by
reason of any supposed prestige
that his election to the office to
which he is aspiring may entitle
him. It is a mutual savings inSti-
tuition, an old fashioned building
and loan association. 1t is not a
bank of deposits subject to check,
in fact it does not receive deposits
at all. Those who put money into
it become shareholders or mutual
owners. The Federal Government
puts UP no part Of the capital
stock. It's only connection with the
Federal Government is that il is
chartered under the Federal Saw
ings and Loan Act and is oper-
ated under the provisions OF this
Act.
The prime requisites in the for
nation of any financial institu-
| ton are capitalization and man.
agcment. Mr.. Monsalvatge failed
to make il clear which il either.
} of these he is qualified ~ offer
The capitalization must be$fK cash
and of a sufficient amount 10
make the association o going con-
Germ. Can he subscribe to such a
fund or what has been his exper-
icnce in the handling Of other
/ peoples money?
The management must be Of
such a character as to meet the
scrutiny Of the chartering federal
agency and to be successful must
also inspire the public with such
confidence that those who have
funds are willing TO participate on
q mutual partnership basis. While
the uItir1ate safety of the capital
investment IS guaranteed bv the
Federal Savings and Loan Insur-
ancc Corporation tnot the Fed
eraI Deposit Insurance Corpora
tom. there IS no interest return
Guaranteed Whatever is paid to
the investors is in the nature of
dividends as il and when earned
rather than interest on the IN
vcstmcnt
As "a the nature Of It's business
IL IS permitted n loan funds on
real estate, or upon rs own So
curIty. or upon certain types Of
government bonds Eighty five
Der cent Of lis assets NAV bc
loaned on real estate for home
occupancy bat rot more than four
families in a single building In
other words Il makes exactly the
Same kind 81 loan and under the
same conditions that national
banks are permitted to make IN
der the 2 H A Only fifteen per
cent Of It's funds can be invested
IN larger real estate loans
The First National Bank OF Kew
West IS qualified. willing and
fully equipped 10 make leans IN
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30
MEN NEEDED FOR PRIVATE WORK

The Citizen knows OF SeVeraI property
owners in Key West who want to have their
home reprinted, repaired and otherwise
improved Like the rest of us they have only
recently begun to get over the pinch of the
depression and now are in proper mood
to spend some of their cash for improve
ments. The properties have cotton into
sad state by reason Of neglect the last few
years.
All primed to proceed with the neces-
sary work, they are confronted with an
other problem where to find the men to
do the work There are quite a few men
skilled enough to paint and to do simple
carpentry Jobs Where are they and what
are they doing? Why working on the var
Ous WPA projects around the city. Well,
why rot employ them to do the work.
They won't quit WPA jobs, that's
why not" one property owner informed us
when we asked him that question. ''They
won't quit for love OF money. offered one
of them, a carpenter by trade, more than
twice the amount is being paid by the WPA
if he would put in some work on my prop
erty. | figured my work would take one
man about three weeks and was willing
to pay him in that period the equivalent Of
six weeks WPA employment.
What do you suppose he told me?
Simply said he was afraid to quit his WPA
Job because he would have hard time
getting back on the government payroll
when he got through with my work
told him thought he could find plenty of
other outside work and would not have to
return to the WPA project. He wouldn't
listen to me and I'm still looking for man
to do my work.
The WPA has been a blessing to Key
West 1t still is necessary work that must
be continued until this city is again firmly
planted on its economic feet. But there is
something wrong with a program that
penalties a man who might earn an honest
living in other directions. 1t should be pos
sible for a man to take outside jobs for
short periods and then return to the WPA
work if necessary. There's got to be an end
of WPA some time, so why not set up an
employment agency that will gradually fit
the WPA workers into outside Jobs?
If something isn't done, wOrkmen from
other cities will be imported to Key West
to do private ard commercial work while
our own citizens are kept perpetually on
the WPA payroll The WPA workers
should be advised by their superiors that
eventually Uncle Sam will have to quit dol
ing out employment. Eventually there will
be work for everone in private and COM
mercial enterprises. AS this work develops
men should be forced to leave the WPA
payroll instead of being encouraged to re-
main or it because it takes so much red
tape to get back on again.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Senator Pepper devoted large por-
ton OF his speech in Sanford last week to
which has been spent i'm this country undeS
the Roosevelt administration for farm
loans, home owners loans. relief, and WPA
projects. What the Senator neglected To say
WAS that most of the money was spent be-
fore he became a member of the Senate.
only more than a year ago though Mark
Wilcox was. for most of tbe-time,Uu eon-
FRESHMAN Sanford Herald, Y @
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

u The Administration is ready to go on
a&dther spending spree and at the same
time harassing business, only from whiehDit
ear hope to obtain the funds 1t doesn't
make sense Busine4s il the goose that Mas
been laying the golden eggs; killing the
GOOSE viii give us good eating for a little
while, but then there will be no more gol-
den eggs and a gone goose can lay no eggs,
not even goose eggs.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Waiter Nase of New York city. the
photographer who made Lite's picture
story The Birth of a Baby" which caused
such furore throughout the country ard
which was banned in some cities. Is again
in florida making number of pictures for
stories He recently completed two stories
on the birth of an alligator and the birth
Of an ostrich Why this sudden interest in
the origin ard CESSATION of life2 The human
S he higher animal and nature has given
hla reason 50 he may ohliterate thoughts
Of anpleasantness. and place his mind on
plane where he can view ard contemplate
the beautiful things of hia e.. hi e1is--
enee.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30
]. ]. Trevor Replies
To William Monsalvatge

der the F. H. A. and has made all
loans applied for and ON which
F. H. A. commitments have been
obtained. Such being the case
does it appear. that there is such
a crying need for the institution
which Mr.. Monsalvatge is adVo-
eating and which he assures the
people of Key West he will get
for them, if elected? Our re-
sources are ample and we are
really anxious to extend our hold
ing this type of loan. If any eff
forts have been made in the cs-.
adjustment of a federal savings
and loan association here, as
claimed by Mr. Monsalvatge and
of which | have no knowledge, It's
sponsors after due investigation
evidently came TO the conclusion
that there was no business need
for such an institution here at the
present time. This same conclu~
sion was reached by group who
came here considering the estab-
hshment Of an industrial bank.
When the time comes that our
Bank has made all the loans OF
this character which federal bank
ing regulations and good bank
ing practice will permit, we will
be the first ones to recognize the
need and desirabilitv Of such ar
organization. We do not expect TO
be the only financial institution
in the Bigger KEY West which We
are all hoping to see como into
being. When. there is need and
room for another bank, if viii
come and We win welcome IL
However. as long as VIC can ado
ouately serve the needs Of the
public. believe that our people
win recognize the value ~ our
Bank to the community and give
il the support to which We feel
il is entitled through long years
of service
This institution has been with
Key West since 1891. through fat
years and lean years. through
hurricane disasters and economic
disasters Through the Deprcs-
sion and Moratorium which took
two-thirds az the countrv's banks
Our bank was the very last bank
in the country 10 close and was
listed among the first authorized
to reopen. Through good man
agcment. IN which Mr. Porter
played the leading part TIE psc'-
pie Of this community were saw
cd the dire suffering that would
have come through . financial
disaster To-Day our Bank stands
stronger and. I frel. moro firmly
entrenched than EYER wiia that
valiant hand 81 Kew Westers Who
stayed on the Old Rock until ;hcv
now sec the dawnlnF q 3 bright
er day
II seems too Rad that or tre
dawn 81 that day the Bank and
Mr. Porter should becugae the OBJ
ject 81 criticism for purely noli-
teal purposes BY an individual
who did nothing whatever "a
bring that brighter day luto
being
J J. TREVOR
Key West. Florida.
April -. la3a
tf@44 En84*tea3 3@T ERR s@rnax*b
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30
ABOUT WOMEN

Mrs. Ellsworth Richardson of
Ottumwa, Ia, who was the first
woman to receive the American
Farm Bureaus medal for meritor-
ious service to agriculture in 1890,
recently announced that she will
run for United States Senator.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

At a concert in her honor held
in New York City, Mrs. James
Roosevelt, mother of the Presi-
dent, received the fifth annual
award of the Albert Einstein Med
al for Humanitarianisrn.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Miss Elizabeth Seifcrt of Mo
berly, Mo-, received a $4,000
award for her book, Young DIR.
Galahad,r which was the first
manuscript she had ever offered
for publication.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Bulgarian women have had
their suffrage extended by King
Boris and now instead Of only
mothers being permitted TO, vote.
all women oyeri21 may vote in
the parliamentary elections. ~.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

~s-~ The Wagner Act should be so amend
s-ea that it will be fair to employers, en-
S-3si0yees, and the public. As constituted it is
.-now a one-sided arrangement. Correspond
s-iaG responsibilities should be imposed on
both parties and enforced impartialy with
dominant regard to public interest
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

3d. The women's professional divis-
ion of WPA has commissioned
Miss Margaret Whittemore of
Topeka, Kan, to make prints of
the states landmarks and birds
for museums in the state.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30
IMPROVEMENTS FOR KEY WEST
..a .u ADVOCATED BY THE CITIZEN

!. Water and Sewerage.
g. Comprehensive City Plan (Zoning.
3. Hotels and Apartments.
4. Bathing Pavilion.
5. Airports-Land and Sea.
6. Consolidation of County and City
Governments.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Miss Jacqueline Cochran was
recently awarded the Harmon
trophy as the outstanding Ameri-
can aviatrix of 1887.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

1t has been said that ignorance misses
the best things in life, but at the same time
YGhorance also avoids lot of life's worries.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Anyway when Adam and Eve had to
move there were no nquisitive neighbors
SHOPPING around to see what kind of fur
a.AL4iture they had
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Federal Reserve Board says the
Hole reduced outstanding loans
$3.50, 900, 900 in 1887.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Admiral Leahy says proposed
Navy increases would not assure
success against foreign attack.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Viscount Halifax warns Eu-
ropean agressors that Great
Britain cannot remain "aloof".
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

Naval escalatOr clause invoked
by United States and Britain:
France approves moves.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

A lot of experts are talking about
things that they do not know much about
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

- Every once in a while we suggest to
our readers that they go to church; the idea
is still q good one.,
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30

~~~ Science is making wonderful improve
nent in nearly everything except human
nature.
ssesy~
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-30
T f S T Y D u r
KIN OW Edo &c
Can you answer seven of These
test questions? Turn 10
Page 4 for the answers

1GSI QuGS1LCnSs URN 10
Page 4 for the answers
sOsssSsssSssSOsSssss.-.-
!. Name the second ranking
state in the u. S.
2. In astronomy, what does the
work apsides mean?
3. What is the nickname for the
bell in the Parliament
clock tower. London?
4. How many yards arc in one
rod?
S. Who is Wilhelm MiklaS?
6. What ancient people wor-
shipped the god Osiris?
z. Where is the Colorado River
in South America?
8. What is illiteracy?
9. Where is Lake Chad?
10. Under what branch of the
government is the Federal
Alcohol Administration?
Evening star., 1938-06-07
Washington Produce

,u5 Butterao 9sf sSo5e d5D9uns prints as;
ls9snd M.as5pocs pf!pts as -Dound prin print. 2s
ss: pork loin, 2s: fresh ham, -: isrss
hams. Is; smoked skinned 1 bacon. SAtit Il;
smoked ham. .3; sliced bacon. 5s; piece
oaiI1 sp sqmDPpnd' II laFd 1os
;3.as; light PIGS, I4o-160 pounds. sssie:
! 55o-a0o o. pounas, siaa9l2; heavles,- 200
ng.on! by the United States Bureau Of
EGGS-Market steady. Prices TN
changed; Government graded and dated
eeggess: whites U. S. extras. laree. 26ls;
ards. large, %; U. S. STANDARDS. mediums,
20: nearby uneraded eggs. current receipts,
whites; tWr 20 o,2, to Il l., mixea colors ~ to 20
u No. Is to Is: Isf' Ieshorns' nsatg + to 49, So
lbs snd ess 20 yrss po fsek
90 TO a2,. coasters. 2I to -; No. IS. is
to 1a; Delaware Rocks and crosses, .oroil-
to 0s ana rossters sss cog 70 70 "a M No sgyeIs
I6 to Il; mixed colored fryers, II to 20;
Lsghorns rollers, Ia lbs. and less. l5 TO
ed 70 'pS Po R sP od to TOMS u.s. ~ ia!kfys So
rs, Is
Fruits and Vegetables.
Sales in large lots by original receivers
APPLES-No carlot arrivals: no cars on
track, Market steady. Bushel baskets, U.
s; No. ], Maryland, ylaI PennSylvana. virginis
s,,nimum, $3.50; 2A-inch minimum NJ
80: 21s-inch minimum; 90-1 90; 2s4-inch
minmam es-4s -inss ssaymans; mn1mum 9Ai6sh a
10: Lowrys, 2H-inch minimum. 5000:
"a z, a inch minimum .z5-s5; Paragons: 2h.-
TD-S5: boxes and cartons, Pennsylvania
lass 1;0o-I.25; zoos and larser.. 1.s5-
1iss is, s'I 94Sa9 80; 5Ss 80:
PaTaEons so, as ltssoasss aaa li5-is5; sss-1c9s:
saps, 16ss-I IS. i.15:1.a5: 1sss-i sos.
1.25-I.50: 1l3s-1e5s, SOL .65; Ie6s- zoos.
l.gs-I.ss s6s. .s5-i. SO; Deiiciogs, 144ss, 1s,
1.25-1, ,35; 113s-125s. 1.35-1.50; zoos and
cANTALouPEs-Market S,ijiSS; steady. One
California .,ss arrived: three broken cars on
a5s s5ss 4ss posys 'ugsos sas s go o
Georgia; salmon meats. standards 24s to
III HoNEYBAILs-No earlot arrivals; one
standards a M 45s @ 45o a:A ,umsos ses 'ea1sd and
4Ss ave Ri Rspys 4ss ase aseepts mod
crate; market weak; "a quart crates, vari-
ne4s HsW srsey crdnsry g 1x tsr
cnuS;;t;an Moftn o0a ar9tha' ~ oiuahai' W ian
ASPARAGUS-Market steady. No carlot
arrivals; no cars on track. Pyramid crates.
dozen punches: New jersey, very large size,
2.50-2.75: large size, 2.25-2.5 so: medium
size, 2.00-2.25: small size 1.50-1.75: Della
ware, 1.00:;1.75; few high as ESQ, accord
ing to quality.
CABBAGE-Market steady. Truck re-
ceipts moderate. No carlot arrivals: no
cars on track. South Carolina. la-bushel
PoTATOES-Market steady. Old stock:
One Idaho arrived; one broken car on
track. Maine ,10o-pound sacks Green
stock: No carlot arrivals: one broken car
on track: Cobblers. U, s; No. n: North
mostly 1 80; stave barrels, 2.75: dirty, $50.
Carolina. 100-pound sacks. 1.50-1 so,
CARROTS-Market steady. No carlot
arrivals; three broken cars on track. Cali
fornia. Western crates, punched 3.25a350.
CORN-A-Market steady. No carlot ar
rivals; one broken car on track. Florida.
standard crates, 1.50.
Evening star., 1938-06-07
CHICAGO PRODUCE,

CHICAGO, June Z QP.-Poultry. live, 42
trucks. about steady: hens over pounds,
is; ducks Ala pounds up. white and COL
ored. u; small. 12h; other prices un-
B,dter,. l.3ea.457 pounds; easy; cream
Ssa,, "a; extra frsts is0-aIj. as-SsE
flrsts $3.50, 20s4-22A: standards 900,
changed; Esgs 2o,s52; firm; fresh sraded
1sA:. cars 1919: other prices unchanged
9 Potatoes: 1877; on track, 332: total U.
moderate. Cslifernia White Rose stronger
stronger. demand fairly good for washed,
steady: Bliss Triumphs, u S. No. /. LOU
isiana IS1a 155-9 6555S9so5 o5; arkansas. so-s %;
27Ha; Texas 1;;90-2.05;. North Carolina,
Cobblers' 2. 8; No, l, .s0-S5; y. S. COM
.o9-95; GalifoInia, White Rose. u. S. No.
moderate, demand light; sacked. per cwt.'
Russst Burbanks. Idaho. U; s. No. 1. ZOO
10; Washington. combination grade I.65;
oregon; y. S; No, /, 1.s5: North Dakota,
5lbss Iriumphs, 80 per cent U. s. No. l,
Evening star., 1938-06-07
ty the Associated Press.

fy the Associated Press.
NEW YORK. June Light and
variable trade winds kept the bond
market moving indecisively today.
Minor losses and gains we're mixed
throughout the list in late trading.
Better-grade industrials tended to hold
in a narrow range
Some of the longer rated Treasury
issues ran Into a little selling after
yesterdays rally. Apparently the mark
downs were actusted by comparison
with the market for the 20-year loan
just offered by the Federal Govern
ment Treasury's 23.s of 1886 were
off 1882 Of a point at one time.
Up frsctionally to more than point
were Chesapeake 8, Ohio 41i2s of 1892,
Goodyear SIS and International Tele-
phone SIS.
few inactive issues had wide de-
clines. The first sales in Poland rs
of l947 since March were effected at
59l2, off lll2, rejecting the fall in
other Central European issues in the
meanwhile. Mobile e. Ohio Is, also
inactive, were off 20 at so.
Down fractions to more than point
were American &c Foreign Power SIS,
Columbia Gas SIS and Northern Pa
cific As of la47.
Evening star., 1938-06-07
NET OF JERSEY.
STANDARD DROPS
Earnings for Four Months
21 to 22 Per Cent Below
Same 1887 Period.
ny the Associated Press.

l'y the Associated Press.
FLAMINGTON, N. j., June T.
Standard Oil of New Jersey earnings
for the first four months were between
81 and "a per cent below those of the
same period in 1897, w. S. Parish.
president, told stockholders at their
annual meeting here today.
The entire year, he said, might show
a reduction of as much as IS per cent.
in comparison with last year. April
business was worse than March and
February, he said, adding:
If there is any real Improvement
in general business in the fall we will
share in 1t, unquestionably."
The crude price structure will prob
ably hold if prorating continues as at
present. he said. Present inventory
excess Of gasoline will be largely cor
rected by the end of the consuming
season, he said.
New financing is possible, he said
in answer TO stockholders question,
explaining that the company was mot
long on cash."
Refining operations are in the red,
he said, but marketing is in the black.
No formal proposition of settlement
has yet been made for the company's
properties appropriated by the Mexican
government, he said.
Capital expenditures program for
the year will probably amount to
slightly less than last years $l76 ,OOo,-
900 total, he said.
Evening star., 1938-06-07
Figures
What They Mean
By A. A. PATTON,
Associated Press Statistician,

NEW YORK, June IA subtle
touch by Federal authorities to help
nurse along fiedgling revival in new
financing by industry is seen by some
bond men in the decision of the
Treasury to limit its own mid-June
financing to refunding.
Many Wall Streeters, wise in the
ways of Government fiscal operations,
guessed the Treasury, favored by an
excellent market, would step in this
month and load up with $500, 900 900
or more in additional cash for the
projected lending-spending drive.
Instead, Secretary Morgenthau an
nounced only enough money would
be raised to repay maturing debts.
This news reached the financial
district when investment dealers were
celebrating the first worthwhile run
OF corporate and municipal issues in
more than a year--the 100000, 900 in
loans successfully sold last week.
ITessuTc lNCTedScu.
BY restricting borrowing to refund
ing, bond men pointed out, the
Treasury in effect was turning more
pressure on banks and investing in
stitutions to employ idle dollars in
loans to business and new corporate
securities.
Many banks, they figured. had been
waiting possible addition to the sup
ply Of Treasury obligations before
making midyear investment plans
Government securities the last few
years have been the chief outlet for
the billions in idle credit accumulat-
ing in banks from gold imports, re-
payment of past business borrowings
and reduction in new corporate Of
ferings.
Until the Treasury's present big
cash supply runs low, bond men cal
culate banks would be under strong
rowings for additional earnings assets.
Already banks have been credited
with being a major factor in putting
over the recent large corporate bor-
rowings, starting with the Consoli-
dated Edison loan a few weeks ago
and reaching a high point last week
in the sl0o, 100000 United States Steel
issue.
Stayed Out of Market.
For more than year commercial
lending institutions virtually had been
out of the market for new issues.
In the early phases of the 1887
decline in bonds, banks were heavy
sellers of United States Government
securities. Their holdings of invest
ments and loans have continued to
decline as a result of partial shift
of the Government debt to Federal
trust accounts and liquidation of
business loans. Contraction in bank
loans and investments in leading cities
the last year has topped S2,000,-
600 1000.
Now. with surplus funds rapidly
piling up, banks again are forced te
scout around for investments to main
tain their earnings. Shrinking returns
on top-grade investments and retire
ment of considerable amounts of
Treasury bills have increased the in
centive to look elsewhere than in
the Government bond market.
Until the Treasury resumes OPEN
market borrowing on a big scale
bond men argue, the most promising
outlet for bank funds should be new
corporate securities. Business liqui-
dation of inventories has narrowed
commercial lending opportunities.