davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-12-14
House Of Morgan
And Others Target
In Monopoly Probe
BIyth & Co. Deelored
Eoeer to Get
Investment Business
By the Associated Press.

By the Associated Press.
The Monopoly Committee learned
today that Blyth G Co., investment
bankers, was anxious in 1885 ito
get under the covers as close as pos
sible" with the house Of Morgan"
in the business Of managing and
underwriting security issues.
Peter Nehemkis, Securities and
Exchange Commission attorney,
read this statement from a 1895 let
ter Of Charles E. Blyth, partner in
Blyth e. Co., to Charles E. Mitchell,
Wall Street leader and head OF the
Blyth New York Office.
Mr.. Mitchell, identified in previous
testimony as man who knew the
deer runs Of Wall Street." was the
first witness today as Mr. Nehemkis
turned the investment banking tes-
timony to j. p. Morgan g. Co. and
Morgan, Stanley Il Co., securities
firm formed when the 1888 Banking
Act required banks such as "the
house Of Morgan" to quit the securi-
ties field.
Letters Declared "InfofmaI."
As Mr. Nehemkis read extras from
number of confidential letters sent
and received by Mr.. Mitchell, the
Wall Streeter interrupted:
I hope you realize these letters
were informal. I was not picking
words to be analyzed at hearings
such as these five years later"
Mr.. Mitchell, former head of the
National City Bank of New York
City and its former securities affili-
ate, the National City Co, which
was dissolved because of the 1888
Banking Act, identified a letter he
wrote to Mr. Blyth in July, 1885,
predicting that "the Morgan people
will shortly be back In the invest
ment banking business"
Declared Benefit"
Mr.. Mitchell wrote that their re-
entry in one form or another will be
to our benefit, as they will be con-
structive in leadership and I am
sure will count us (Blyth g. Coz as
close allies"
Does the house of Morgan SYM
bolize constructive leadership in in
vestment banking?" Mr.. Nehemkis
asked.
After Is years experience in the
(WalD Street. would say that was
a sound conclusion" Mr.. Mitchell
replied. They represent the very
peak of ethics; understanding and
leadership. They have made order
out OF chaos. many, many times"
Mr.. Nehemkis repeated previous
testimony before the committee that
George Leib of the Blvth firm ac-
quired Mr.. Mitchen's services when
seeking some one familiar with the
Street.
who found you for Mr.. Leib?"
Mr.. Mitchell was asked.
I'm sorry I can't say" Mr.. Mitch
ell replied, laughing. He said he did
not believe my special contacts
with the Morgan partners were in
fluential in making his Blyth con-
nections.
You were indebted to J. P. Nor
gan d Co. to considerable extent
then, were you not?" Mr.. Nehemkis
asked.
Il certainly was and the world
knew it," Mr.. Mitchell replied. He
testified later that this debt had
been paid.
Evening star., 1939-12-14
Dry Goods Market

NEW YORK. Dec, IA R-Selling
agents in Worth streets cotton goods mar
ket reported q more hesitant attitude 10.
day as . result of sharp declines in cotton
futures this morning. Nevertheless stable
prices were reported
Business in wooen goods was checked
by. the usual December lull before inventory
taking. Mills continued busy on pro-
duction of mems wear fabrics, but new
business was light
Advances in raw silk prices-highest in
II years-caused caution on the part Of
silk goods buyers and the market was
virtually at a standstin
Broad activity continued in rayon goods
Considerable business was written on pig
ment taffetas, twills and satins.
Evening star., 1939-12-14
November Corn Grind

NEW YORK, Dec. IA (SpeciaD -
A corn grind of 6 1892 1924 bushels dur.
ing the month of November fol
products going into domestic use wa.
reported today through the Corr
Industries Research Foundation IL
behalf Of II refiners of starches
sugars, syrups and other products o.
corn. This compares with a grine
Of 8,ll3,487 bushels in October o.
this year and 5,973,647 bushels II
November, 1888.
Evening star., 1939-12-14
Salisbury Shopping
Sets New Records
Hy the Associated Press

Ey INC A8S0clated PreSS. n
SALISBURY, Dec. IL The
Chamber Of Commerce reports pre-.
Christmas buying in the Salisbury
stores Is so far ahead Of the cor
responding date last year that sew
eral stores have already set new high
sales records.
Department stores reveal an in
crease Of IS to 80 per cent in dol
lar volume, while at the specially
shops. notably ladies' apparel, the
volume generally showed an even
larger increase.
Evening star., 1939-12-14
Worthington Pump Gets
Contract for Tanker
Special Dispatch to The Star.

Special Dispatch to The Star.
PHILADELPHIA, Dec. A.-The
Atlantic Refining Co. has awarded
to the Worthington Pump and Ma
chinery Corp. the contract for the
cargo discharge and circulating
pumps for a 19,405-ton, all-welded
tanker to be built for the refining
company at the Sun Shipyards,
Chester, Pa.
The three 300-horsepower dis
charge pumps will be of the centri-
fugal. deep-well type, driven by
23OO-volt, explosion-proof motors.
Combined capacity will be 100000
gallons an hour, making it possible
for the vessel to unlod cargo IN ap-
proximately II hours, about one
third the usual discharge time for
a vessel Of this size.
Evening star., 1939-12-14
Louisville Papers Give
Bonus Of 6 Per Cent
BY the Associated Press.

BY the Associated Press.
LOUISVILLE, KY, Dec. IL
Barry Bingham, publisher of the
Louisville Courier-Journal and
Times, has announced a bonus Of
per cent of their annual salary for
employees of the two papers and
their afhliates. Radio Station WHAS
and Standard Gravure Corp.
Approximately 1000 persons bene-
flied. Mr.. Bingham, who said 1t
was the largest bonus ever given
by the company, did not make pdb-
lie the amount of money distributed.
Evening star., 1939-12-14
Indiana Utility Bonds
Placed on Market
BY the Associated Press.

BY the Associated Press.
NEW YORK, Dec. 14.-An under
writing syndicate, headed by Halsey,
Stuart & Co., today publicly offered
an issue OF $45.0O0.o0O Northern
Indiana Public Service first mort
gage bonds. series "a" 80. per cent,
at 100.
Proceeds from the sale of the
bonds, which mature in 1869, to-
gether with a bank loan and other
funds Of the company, will be used
for the retirement of bonds bearing
higher coupon rates.
Evening star., 1939-12-14
Foreign Markets

LONDON. Dec. IA dP.-Demand for tex.
stock market today. Electrical equipment
stocks and many OF the more specul1tivelJ
Satsd industrials also made bid fol
higher prices. South Africa mining issues
failed to maintain a morning spurt. Com.
modify shares held nrm. British severn.
ment bonds held quietly steady and the
course.
PARIs-Brisk selling on the Bourse
today. Rentes lost Is to 14O centimes but
sistance. Foreign shares moved unevenly
ANSTERDAM-Bourse prices ended at
the days best levels under impetus Of risina
Wall Street quotations and higher COM
modities. Rubber issues paced the list.
Evening star., 1939-12-14
Boston Wool Marker

BOSTON Dec. IA R.-(Urited States
Department of Agriculture.)-A persistent
interest was being shown today in nne
inquiry was not broad, the demand was
sufficient to keep prices Of these grades
very firm because Of the depleted supplies
in the market Good French combing
length fine territory wools. in original
bags, were bringing 81 to S1.O2. secured
basis. Inquiry was being received for
but only occasional small quantities were
moving at prices ranging So to 50 cents,
secured basis.
Evening star., 1939-12-14
Poris Bunk Churaes

PARIS. Dec. IA H-Bank Of France
francs): Gold reserve, % 266: unchaneed.
Balances abroad. IS: decrease, 6. Dis
counted commercial biiis-France. $3.50:
increase, 1883 Negotiable bills bought in
France. 5.757: increase, $50. Advances
against securities 1851: unchanged.
Thirty-day advances against government
advances to state. so.47a: unehsnsed.
Circulation. 149.455: increase So Total
credit to current accounts 13,66s; de-
crease. 677. Ratio Of gold to sight na-
bilities SO SO Der cent compared with
59.41 last week. Bank rate. Q per cent
Evening star., 1939-12-14
New York Sugar

NEW YORK. Dec. "a P.-Domestic
sugar futures were dull affair today as
many reports from Washington that news
on quotas and the sugar tariff is near at
hand Prices in mdafternoon held un-
changed to 9 points higher, March. 30:
Nav 9S
World futures were also quiet. but held
steady at net gains of "a to l point.
March. / SO: May 5S.
A leading Eastern refner purchased
5000 tons Of Louisiana raw sugar at
2.95 cents. unchanged Cuban spot sugars
were nomnally unchanged at 800. duty
paid basis. Refined continued 40.
Evening star., 1939-12-14
Used to Close Shaves

IRVINE, KY. F.-James Winn,
reelected county clerk recently for
a third term, maintained his rec
ord OF just "skinning through" In
his three races his total majority
was only 106 votes. In 1927 he de-
feated the incumbent county clerk
by 2 votes. Six years later he won
reelection by 10 votes. This year
his vote margin of victory was "a.
Evening star., 1939-12-14
Stute Loon Directors
Vote Two Dividends

Directors OF the State Loan Co.,
which maintains two Offices in nearby
Maryland and one in Virginia, have
declared a profit sharing dividend of
2 per cent on the preferred stock,
President Adam Weir announced to-
day, payable on December Is to
stockholders of record December /.
At the same neeting~the directors
declared dividend of 81 oer share
on the outstanding common stock
President Weir stated, this likewise
being payable December Is to stock
holders Of record December !.
Evening star., 1939-12-14
Puris Exchange Rutes

dollar Closed unchan9ed at * "a Tancs
t2.2S3 cents to the france in foreign ex-
change dealings today. In contrast the
Cents Exchanee hrSa on London, S T I7sss5.
Three per cent rentes in the Bourse
ended 1880 francs: 4hs a. 1870; 4Has
1897, 2O9 60
Evening star., 1939-12-14
Dividend Declared

AKRON, Dec. IA (SpeciaD .-Direc-
tors of the General Tire g. Rubber
Co. have declared regular quarterly
dividend of $3.50 share on the
company's outstanding preferred
500 par stock, payable on December
80 to stockholders of record on De-
cember 20.
Evening star., 1939-12-14
Metal Market

NEW YORK. Dec. IA R.-Copper steady;
electrolytic spot. IL so; export +. =. s. New
York. 1915. Tin easy: spot and nearby,
5O.50 forward 1900. Lead steady; SPOT,
New York $50; East St. Louis, -535
Zinc steady: East St. Louis, spot and for
ward. 600 Quicksilver. 140.0O-143. 90.
Pig iron aluminium .antimony. platinum,
Chinese wolframite and domestic scheelite
unclaimed.
Evening star., 1939-12-14
Bonus Increased
| By Westinghouse
Electric
By the Associated Press.


PITTSBURGH, Dec. 14.-The
Westinghouse Electric & Manufac-
turing Co. announced today adjusted
compensation Of 10 per cent will be
paid to 46,50o employees in 81 plants
and several hundred Offices in De-
cember.
The bonus-4 per cent higher than
in November-was based on net
earnings of $4,290,0 ,094 in the last
three months. Earnings amounted
to $l,104.137 in September; $1,363,-
$40 in October, and $1,822,117 in
November.
Evening star., 1939-12-14
Fast Auto Production
Shoriens Delays
In Deliveries
Plymouth Turns Out
Ninety Finished Units
Euch Hour
BY DAVID ]. WILKIE,
Associated Press Business Write!


DETROIT, Dec. 14.-Its produc-
ton rate nearing the level of 120,-
600 cars and trucks week, the
motor-car industry is narrowing the
delay between purchase order and
delivery that has vexed buyers, deal
ers and production managers since
the beginning of the current model
season.
At the Plymouth plant, volume
producer of the Chrysler group, 80
finished units an hour are rolling
off the assembly lines, to get the
Chrysler weekly total up around the
$4,000 mark: General Motors vari-
Gus plants are finishing and deliver
ing to dealers close to 10000 cars
and trucks each day and the Ford
plants are on about the same sched-
ule as the Chrysler group.
While the upward surge Of as
sembly volume came mainly as the
result Of Chrysler's return to pro-
duction after nearly two-month
shutdown because of labor difficult
ties, virtually every producer has
been obliged to step up activities to
meet increasing pressure from deal
ers with heavy accumulations Of
orders.
Pace to Be Maintained.
The current rate. of production
is the highest the industry has ex-
perienced since the middle Of June,
1887. During that month the as
sembly plants turned out 521, ,153
cars and trucks The current
months output may not reach that
figure, but there are indications 1t
will rot be far short OF 475,0OO
units.
Factory output probably is at the
highest level it will touch for several
months, but barring some unex-
pected interruption to plant activity
the volume will be sufficient to ab-
sorb the backlog Of retail orders by
about mid-January.
Chrysler officials, with their plants
again on a normal production basis,
are disposed to disagree with the
trade speculation that very consid-
cradle number Of its regular custom
ers Cancelled orders to accept deliv-
cry of competing models during the
labor tie-up. They agree there were
cancellations, but assert that they
were not nearly as voluminous as
was suggested in some quarters.
Many orders, these same officials
assert, have been reinstated with
the resumption of assembly line ac-
tivity and the sales division of the
corporation expects to speed deliv-
cries by reducing factory -to-dealer
transit delays.
Used Car Sales Good.
The sales division of the industry
generally reports continuing high
volume Of redistribution of used
units. The experience of Chevrolet
was typical of the remainder of the
industry. This General Motors unit
reported that during November its
retail outlets sold 1l8252 used cars.
Its new-car distribution during the
same period totaled 89,377
The volume of used-car sales Is
encouraging to the trade as demon
strating the industry is maintaining
control over one of its most irri-
tating problems.
I'VE hope to sell close to 4,OO0, 900
new cars in the 1910 model season. -
said one sales executive this week,
land as long as We can sell more
used cars than new vehicles we will
have the perennial used-ca%problem
under control
Evening star., 1939-12-14
London Bunk Report

LONDON Dec. IA P-Bank Of Eng
land statement as of December 13 Gin
thousands of pounds: Circulation 545.-
100; increase 1924. Bullion. 1885: de-
crease. 63. Reserves. 3616f decrease,
11.3O6. Public deposits. 45,SO4: decrease.
1897. Private deposits, 12s.396; increase.
2.284. Government securities, 1913, 106:
increase. IL o2O. Other securities 29,SO6.
increase. .044. Ratio Of reserve to lia-
bilities. 20.7 per cent. compared with 27.4
last week. Bank rate, 2 per cent
Evening star., 1939-12-14
Rail Loadings Hold
Il Per Cent Gain
Over 1898 Marks
Association Reports
Slight Drop From
Previous Week
BY the Associated Press.

BY the Associated Press.
The Association Of American
Railroads reported today 687 ,265 cars
Of revenue freight were loaded dur
ing the week ending last Saturday.
This was decrease Of 1923 cars,
or 2 of l per cent. compared with
the preceding week; an increase of
68,3Ol. or II per cent, compared with
year ago, and an increase of 1899,
or II per cent, compared with 1887.
The report classified the loadings
as follows:
Miscellaneous 10000 Wi,ss79 tz. -f4e.soa 80;
Less than car o,a .oe ooao
LOT -------- I54'2l6 = 4,IO6 r 2,sSS
Coal -------- 12s,516 -7194 1878
products - 3s,31o +ss 1897
west ern
districts -. 2O.9O2 1904 -514
Livestock 14,971 LAY -+425
Western dis
Forest prod '' "'
ucts - "a 996 + 23o 1858
ogf eofe e i9,sss LISA +$sssss 5,5s4 b,5s4
Declines in coal and miscellaneous
freight Offset increases in all other
classes. Total loadings declined
slightly instead of rebounding from
the previous week, which included
the second Thanksgiving Day lull.
The Associated Press seasonally
adjusted index of loadings, based on
1929-30 as 100, declined to TAO, COM
pared with 755 the previous week
and 70.4 year ago.
Range of recent years:
1889. 1898 1887. 1895. 1934-35
Low - SIS 55.7 62.5 66.2 $50
Evening star., 1939-12-14
700 Tons of Leod Sold

NEW YORK, Dec IA P.-St
Joseph Lead Co. reported 400 tons
OF Southeast Missouri pig lead sold
yesterday at S5.35 per 100 pounds
East st. Louis; 200 tons at s5.55
New York, and 100 tons at the New
York average.
Evening star., 1939-12-14
RetoiI Trace Shows
Gain at Pittsburgh
Nv the Associated press

ASSUCIdItU FTtSS.
PITTSBURGH. Dec. 14.-Santa
Claus pack apparently will be a
little heavier this year than last
The University Of Pittsburgh re-
ported ,liday shopping last week
boosted department store sales 79
per cent above those for the corre-
spending period in 1898
Evening star., 1939-12-14


Aso extra or extras.
Quotations furnished by National Asso-
fiation OF Securities Dealers. Inc. which
tates they do not necessarily reflect actual
Transactions or firm bids or offers. but
hould indicate approximate prices.
Evening star., 1939-12-14
London Bor Silver

LONDON Dec IA tP,-Bar silver
23ssd. on = Equivalent. AZ 80 cents on
the dollar basis 81 OBJ Bar gold 1855,
UNCHANGED. Equivalent S33 $50
Evening star., 1939-12-14
Rubber Futures

NEW YORK Dec. "A QR.-Crude rubber
futures opened hiyher to 10 lower. De-
cember, 20.45b; March. 1o.4o.64: Nay,
1o.0o.1o07.
Evening star., 1939-12-14

Quotations furnished by National Asso-
ciatl6n Of Securities Dealers, Inc. which
states they do not necessarily reject actual
transactions or arm bids or offers, but
should indicate approximate prices, and
unless otherwise indicated are as quoted
BY the sponsors or iSsuers.
sAstertsk indicates, mot quoted b. spon.
sors or iSsue5A''
Evening star., 1939-12-14

Chevy Chase Club / st 44s 1041a 1854
| Col Country Club 1st 4hs 103
Ter Ref 4: VIII Corp LIST 4As 100 --
Evening star., 1939-12-14
Investing Companies

NEW YORK. Dec. IA tP.-Nstional Az.
sociatlon Securities Dealers Inc:
Noon ouotatione\
Evening star., 1939-12-14

uns s7 qyid'pss Pse 'n. .s sztr': extra zoe Hsie
extra. eS14.OO extra paid December 20
1888 K c0c extra N 81 80 extra. pb0c
paid September 90 1885 81 90 paid In
1898. yS5.00 extra.
Evening star., 1939-12-14
Federal Land Banks

NEW YORK, Dec. IA tR,.-Federal Land
Evening star., 1939-12-14
BONDS

PUBLIC UTILITY.
The Waterbury Democrat., 1939-09-07
ELIZABETH KENDALL
 RESIGNS JOB HERE

The resignation of Miss Elizabeth B. Kendall, executive assistant at the Waterbury hospital since 1883, was announced yesterday. effective Sept. l5. Miss Kendall intends to return to her home in Denver, Colo, ct that time. Hospital authorities have not named a successor.
The Waterbury Democrat., 1939-09-07
NO SECRECY TO
 BOARD MEETING
Mayor. Works Board Dis. cuss Street Depart
 ment Operations

Plans for the conduct of the street department between now and the end of the year were discussed by Mayor Patrick M, Perriello with the members of the board of works at @ conference late yesterday after noon. Despite reports to the con. trary, the session was not secretly" arranged; in fact, The Democrat re. ported yesterday afternoon that such Q conference was scheduled.
 The members of the works board agreed with the mayor that any street department positions found to be unnecessary should be abolished, A survey to determine what such jobs there are will be conducted.
 A program for closer cooperation between the street department and the engineering department was also discussed, The new mayor believes that the two departments can be of great assistance to each other in many instances.
 The mayor yesterday conferred with several heads of departments, seeking their assurance of coopera- tion in a drive to reduce city ex- penditures during the remainder of the year,
The Waterbury Democrat., 1939-09-07
Conspiracy Trial Not
 To Affect Elections
Fairfield Democratic Town Chairman Writes Mrs.
 Winthrop Palmer on Recent Protest

The Waterbury conspiracy trial disclosures should have no effect on local elections about the state, de- clared Judge Edward Schine, Fair field Democratic town committee chairman, in a letter yesterday to Mrs. Winthrop Palmer, who last week declined to run for selectman in Fairfield in protest against the failure Of the Democratic state cen- tral committee to act toward expell- ing from tho party prominent lead- CTS who were found guilty in the trial.
 Judge schine's letter followed adoption of resolution Tuesday night by the Fairfield Democratic town committee calling on the state organization to speak out in clear and unmistkable terms against mal- feasance or misfeasance In office."
 The Fairfield Democrats also call- cd on the Republican state central committee to ouSt it's party mem- bers involved in the Waterbury and Merritt Parkway scandals.
 Judge schine's letter to Mrs, Pal mer follows:
 Permit me to acknowledge re- ceipt of your recent communica- ton in which you ask that your name be not submitted to our town committee for considera- ton for nomination to any major ofiice for the coming town elec- ton. Your wishes have been ob- served.
 "Your outraged feelings as re- vealed in your letter are shared in, am sure, by many thousands of loyal Democrats in the state who view with chagrin the state of affairs disclosed in the trial just ended.
 Though in agreement with many of the things you say, 1t does seem highly unfortunate to me, however that In order to give vent to your moral indigna- ton you have found 1t necessary to use the premise of declining public office in Fairfield as an opportunity to publicly record your feelings.
 "The Democratic party of Fair field has had a long and honor able record. It has presented many worthy candidates for of- flee, and I am happy to say, whenever they have been voted Into office, have served with in- tegrity and ability, and no scan- dal developed in such service. Through its organization, the Democratic party in Fairfield was first to suggest your name to the state senatorial convention; through the same organization your name was offered for national committee woman. It does not regret any ef- forts spent in your behalf; 1t is al- ways proud of its candidates be- cause 1t always tries to select worthy ones.
 T cannot agree with you that any Democrat who offers himself to the voters Of Fairfield for pub lie consideration will by so doing
The Waterbury Democrat., 1939-09-07

"compromise lifelong principles of integrity" because of some- thing that happened in another jurisdiction. If that were so, Call win Coolidge would have never been president, Charles E. Hughes would not now be chief justice and all other members of the Harding cabinet, would have, be- cause Of the Teapot Dome Scan- dal, barred themselves from fur ther participation in affairs of government.
 T am happy to know you will do everything in your power to build an honest, able leadership in the Democratic party in Con- necticut. It seems to me that that may better be accomplished by actively working from within party councils towards that end, than by stunning party activities, which you seem to prefer when you state, until we put our house in order shall stay home
 No one will dispute your sin cerity nor honest when you say I will have nothing to do with cowardice, sloth or vice I would add that 1t is unthinkable for anyone to believe that you would think otherwise. believe also that each and every candidate who will appear on our town election ticket this year abhors as do you, 'cowar- dice, sloth or vice.
 T enclose herewith 6 resolution passed at our last committee meet ing. A perusal will indicate that we expressed our moral indignation many months ago."
The Waterbury Democrat., 1939-09-07
YOUNG (. O.P. CLUB
 TO MEET TONIGHT
Session Set For s { Junior ColIege-to Spon.
 sOr County Session
(NEA Radiophoto)

There will be a special meeting of the Young Mems Republican Club of Waterbury, this evening, at 8 o'clock, at Post Junior College, 24 Central Avenue.
 The Waterbury Young Republic ans are sponsoring the New Haven County Meeting on Friday Septem- Der 18th, at Concordia Hall, l2S Bank street. President Harold Post would like to have all memebers present and each committee head make a report at this meeting,
 The Board of Directors are do- mating wrist watch to the person who brings in the most members before the October meeting. There is much business to discuss and Chairman Joseph DiPietro of the entertainment committee would like to have every member present.