davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Upturn Is Predicted
For Bank Earnings
In United States
Upturn in Interest Rotes
Here and Abroad
Forecast by Survey
Specjal Dispatch to The Star.


NEW YORK, May 29.-With vari.
GUS signs in domestic and interna-
tional political, economic and finan-
cial conditions indicating the ap.
proach of turning point, there are
many reasons to believe that the
worst period for bank earnings in
this country is over, Bondex, Inc,
bank portfolio consultants, state in
a study entitled Outlook for the
Banking Business" in which they
predict an upward movement in
interest rates both here and abroad,
bringing as its most important ef-
feet better earnings for the bank
ing business.
Summarizing the conditions which
adversely affected the banking BUSH
ness, the study points first to the
disastrous consequences of the years
OF depression as shown in the re-
lated decline of deposits and loans.
During the four years ending June,
1888, deposits shrank s15,854 900 900
and loans decreased $4,000 900,
While investments increased only
1929 900 900. During the years Of
depression the fundamental func-
ton of all banks-that of making
commercial loans-Was tremendously
curtailed. Earnings of banks con-
sequently fell abruptly despite the
small increase in the investment
portfolios.
Loans and deposits melted awav
as a natural result of the period of
declining business. This trend with
regard to loans was further accentu-
ated by governmental influence in
banking affairs The establishment
OF governmental lending agencies
has made great inroads into the
normal functions of banking"
The devaluation of the dollar was
another adverse factor bearing upon
bank earnings, the study states,
pointing out that the hoped-for BEN
eflts of devaluation were not real
lied. Normal activity based upon
confidence did not develop" it de-
clares. land dislocation in the bank.
ing activity of the country was thus
further aggravated"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
New York Bank Stocks
Rise 3.39 Per Cent
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, May 29-New York
City banks stocks continued upward
during the past week, registering
fair gains at the close, according to
records compiled by Holt, Rose e.
Troster, specialists in bank and in
surance stocks. The aggregate mar
ket value of Is leading issues on
May 26 stood at S1467 .045 900. COM
pared with sl,4l8.963 900 at the close
OF the previous week, an increase of
s48 ,05l ,000 or 339 per cent.
The current average yield of the
Is issues OF AL per cent compares
with a yield of 456 per cent on
May 10. The current market value
is now 104 per cent of the known
book value, against 10l per cent a
week ago. Based upon current fig
ures, the Is issues are now quoted at
an average of ITO times their known
earnings, compared with 1854 times
on May 10.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29

Shysterism Charged
In Reporting Out Of
Townsend Bill
5000, 900 BomboozIed
With Promise Of Help,
Kennedy Asserts
BY the Associated Press.

Representative Martin j. Kennedy,
Democrat, of New York accused the
House Ways and Means Committee
yesterday of engaging in shame
less piece of shyterism and trickery'
of the aged in reporting out for
House action the Townsend old
age pension bill.
In statement in which he pre-
dicted that not more than IS votes
would be cast for the bill, Mr.. Ken
nedy expressed his contempt for
the action of group of Statesmen
in bringing anguish and suffering to
more than 100000 persons who
have passed the age of 60 and have
been bamboozled with the promise
that they have reached the next
floor from heaven"
THE most contemplate creature
alive" he continued, lis he who
would prey upon the unfortunate;
the kind of person who will give
false hope to the cancer invalid,
the tubercular sufferer or the para
lytic, to unfortunates who we all
KNOW renew thelr faith IN every
quack who promises to alleviate
their suffering.
'Lynching is too good for such
persons.
That is what the WAYS and
Means Committee and the Rules
Committee has said to these g.
100000 persons: Come all We
faithful! Vote for mel"
Mr.. Kennedy said Congress
should tell the elderly people
plainly that the only hope was
in increased Social Security paw
ments, mot muddle cid minds
With golden promises that are
nothing but cheap political CHI
canery.' He added:
1T may be good politics. for that
is all it is-simply a maneuver to
'sizzle' some Republican members. y
The Ways and Means Committee
reported the Townsend bill with
out recommendation. Advocates
of the plan had demanded a vote
of the measure.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
| European Morts
Closed Today
ION Whitsuntide
B. the Associated Press.

BY LT'P ASSOCIdCeu PTeSS.
All European security and COM
modify markets were closed today,
Whitsuntide holiday. Canadian ex-
changes remained open.
On Tuesday, Memorial Day. do
mestic security and commodity ex-
changes will close, with the ex-
ception of the New Orleans Cotton
Exchange. Savannah Naval Stores
and various livestock markets.
Canadian and European financial
exchanges will operate as usual
Tuesday.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29

By the Associated Press.
NEW YORK, May 29-Bonds adj
vanced over wide front today in
quiet dealings
Among the leaders rising point
or more were Phelps Dodge 3i2s,
Western Maryland As, New York
Trap Rock IS and Great Northern
3a4s. Fractional advances were
recorded for Anaconda Copper 4l2s,
international Paper IS, Interna-
national Telephone IS, Western
Union SIS of go and youngstown
Sheet e. Tube As.
United States Treasures mainly
worked slightly higher, while South
Americans led the foreign lists ad-
vancers
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Boston Wool Market

BOSTON May 20 L4, UNITED States De-
partment of Agriculture) Fine territory
woods were receiving q fair demand in the
ing length nne territory woods in original
BAGS were BRINGING IS to 81 cents secured
basis. Good oriEinal IL months Texas
basis, and choice sections were quoted
mostly 70 to II cents4Scoursd basis.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
RuiIroud Income

NEW YORK. May 20 (P,.-Net OPP
Grating income, before fixed charges
and other income, of railroads re-
porting for April included:
| 1899 1888
| Atlantic Coast Line $3.50, $50 S45S.66a
Denver & Rio Grande 195,S51t 372,6s0t
| +Deficit.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Business Failures Rise
During Weekly Period
BY the Associated Press

I BY the Associated Press.
NEW YORK. May Robustness
failures in the United States rose to
252 during the week ended May rs,
Dun e. Bradstreet reported today.
Total for the previous week was 237,
and year ago 257.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Washington Exchange

SALES.
Lanston Monotype-l0 at 47a.
AFTER CALL.
Mergenthaler Linotype-50 at 10.
Washington Gas IS 1960-$500 at
126.
Capital Transit Co-50 at Is.
Notice-This exchange will be
closed tomorrow, Memorial Day.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29

In bankruptcy or receivership or being
reorganlzed under Bankruptcy Act or
securities assumed BY such companies
Rates OF dividend in the FOREGOING table
are annual disbursements based on the last
quarterly o.. semi-annual declaration Un-
less otherwise noted special or extra divl-
dends are not included
xd Elk dividend II Ex rights Also
extra or extras. Paid last year. fay
able in stock Declared or oaid SO far
this year Cash or stock Accumu
lated dividend paid or declared this year
IT Under rule WV With warrants. "
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29

Quotations furnished by Investment
Bankers Conference. Inc. which states
they do not necessarily reflect actual trans
actions or firm bids or offers but should
indicate approximate prices and unless
otherwise indicated. are as quoted by the
sponsors or issuers.
'Asterisk indicates Not quoted by spon-
sors or iSsuerS."
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Freight Loodings

freigft carloadings on railroads reporting
today for the week ended May - included:
May ~. Pv. wk. Yr. ago.
Halt 4 Ohio 1896 40,s26 "a 40
santa Fe-- 24,9l3 24ose 24'555
St. Paul------- 24,S6l 25S95 23.o00
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
MISCELLANEOUS

MISCELLANEOUS
Chevy Chase Club LIST 4i4s 104 -
Col Country Club LIST 4l4s 103 -
Ter Ref & VIII Corp LIST Alas l03 -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
New York Bank Stocks

NEW YORK May 90 lP.-Investment
Bankers Conference, Inc:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Federal Lund Bunks

NEW YORK. May 20 A,.-Federal Land
Bank bonds:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
BONDS ON N. Y. STOCK EXCHANGE
Eastern DayliEht savinx Time.)
By private wire direct to The Star.

Approximate Transactions Today
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
Investing Companies

NEW YORK May 90 PJ.-Investment
Bankers Conference Inc:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
BONDS

PUBLIC UTILITY
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29

Ex-divdend.
I Plus extras e2G extra. t3rs extra.
Es14O0 extra paid December 90: 1898;
zoe extra m S1.50 extra. p.50c paid
September 90. 1898 50 90 paid in 1888
vS2O0 paid so far this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29
High. Low, Close.

Youngstn SIT as 105ss 1857 l05':
Youngstn SGT Is 61 LOT 1868 l07
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
Loan Value OF
Wheat Higher

Washington wheal farmers who
wish to take out government wheat
loans on their 1889 crop will be able
to do so at a higher rate than pre-
vailed last year, according to informa-
ton received this week at the state
AAA office.
The rate for number one soft white
wheat at Portland will be 70 cents
per bushel compared with the 1888
rate of 81 cents AT country points,
deductions for freight and three cents
handling charges will be made. AS
last years handling charges were four
cents, the new rate represents net
increase of seven cents over the 1888
figure
Any farmer cooperating in the Ag-
ricultural conservation program may
obtain a loan upon his wheat, rather
than selling it at harvest time. Later
in the year, he can redeem his wheat
by repayment of the loan or surren-
der the wheat to the government
Loans thus enable farmers to- hold
their wheat during periods of unus
ually low price instead of being obi G.
ed to sell right after harvest.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
NAzI SPY PICTURE
SENSATIONAL EXPOSE

Confessions Of Nazi Spy the
Warner Bros. film dealing with Nazi
espionage activities in this country is
scheduled to open at the Roosevelt
Theatre in Grand Coulee on Sunday
Monday and Tuesday. This is the
much-awaited film which has been a
subject of wide interest ever since
Warner Bros. started the production
of it, the first really important motion
pucture document of Nazi espionage
activities in America. Mr.. Hartman,
manager of the Roosevelt Theatre,
made arrangements with the producers
for showing "Confessions OF a Nazi
Spy" in this. city because he felt that
his theatre would not only render a
patriotic service in showing a film of
this kind, but also because he felt it
would make Americans more cognlz-
ant of the unbelievable spy menace
which exists in our democracy.
Once winner of the Motion Picture
Al is and Sciences Award for fine act
ing, and lauded for his great charac-
terizations ON the screen, Victor Nc
Laglen stars in his latest production,
Universal 8 Ex-Champ,' which com
es Friday and Saturday.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
Sims Corner

The Sims Corner baseball team
went to Rex Sunday, aceompa MED by
few loyal fans They were served /
pct-luck dinner at noon, which was
really a feast. The ball game resulted
i'll a score of FL to in favor OF
Sims Corner. After the game, the
Rex Grange served Ice cream and
cake. They do things in large way
at Rex.
Mr.. and Mrs. Frank Sims and
Harold and Dale Leander spent sever
al days last week visiting in Spokane.
Miss Beatrice Lemley is home for
& few days visiting her parents.
Several local people were in KEEL
Ter Satui day. All reported having u
fine time.
The ]. A. Burton family were at
the Dam Sunday.
Mr.. and Mrs. Robert Mcdonald
and daughter of Edwall, visited the
Z. w. Lemiey family Sunday.
Mr.. and Mrs. Bert Witt of Walla
Walla spent last week visiting their
daughter, MIS-. Marvin Awkward, who
ietu ned home with them for few
days.
Mr.. and Mrs. Charles Ivy Of Day
export visited over the weekend with
Mr.. and Mrs. Harry Thompson.
Raymond Davis, Mrs. Gander
Wayne Gander and Virginia and Will
lis Dodge were in Wenatchee Monday
Kay Leander, Nathan Gander and
Wayne Camden were in Okanogan
Monday.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
STATE PROGRESS COMMISSION
VISIONS GREAT TOURIST YEAR

With travel inquiries s per cent
higher than last year, the Washington
State Progress Commission today Wis
Toned tourist business CT more th;n
500, 100000 for the state this sum
mer.
The lette S and inquiries We arc
getting show that tourists are more in
terested in Washington this year." the
commission said. "Their letters indi-
cate the people are going to stay long,
or and spend more money too"
The tourist business is fast becom-
ing one of the states major "indus-
tries,' it was pointed out.
Reason for the increased interest in
Washington was attributed to the ma
tional advertising carried on by the
Washington State Progress Commits
sion, and to the Golden Jubilee and
San Francisco exposition
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
St. Andrews

Wilbur Hardy of Davenport spen1
few days last week with Mr.. ant
Ms. c. K. Jolly.
Mr.. and Mrs. Bob Lucky and chill
d1en of Cornell spent Sunday will
Mr.. and Mrs. Dan Jolly.
Alfred Nicholson went to Everett
Sunday returning home Tuesday Will
his daughter, Marie Mickelsen, VIII,
has been teaching in La Conner and is
home for her vacation.
Mr.. and Mrs. Elmer Vaughn and
Karla, Mr.. and Mrs. Harold Jensen
and daughters and Mr.. and Mrs. Dar
Jolly and daughter spent Tuesday il
Wenatchee.
Andrew Larsen of Malott spent
Sunday at Chris Jorgensen s home.
Alfred and CHRIS Mickelten and
Mr.. and Mrs. Edwin Mickelsen ano
Duane spent Tuesday i'll Wilbur.
Bob Winn, who sprained his ankl,
last week, is spending few days at
the Chris Jorgensen home.
A program for the mothers and
fathers of the community was given
by the school children Wednesday at.
ternoon.
Dinner guests of Mr.. and Mrs. Ras
Tanneberg Tuesday were Mr.. and Mrs,
Earle Jenkins and daughter of Water
Vile, Mr.. and Mrs. Frank Armand and
daughter of Coulee City, Mr.. and Mrs.
Frank Jenkin and family, Mr. and
Mrs Hans Wogensen and Ena, and
Mr. and Mrs. Slim Jolly.
Mr.. and Mrs. Lawrence Tanneberp
were in Almira and Wilbur Tuesday.
Ras Taneberg was a business call
er in Wilbur Monday.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
MOVE OLD LANDMARK

According to word from Keller an.
other histo. zeal landmark is this week
being moved from that village-tie
two 1OO-ton ore smelter units which
were installed at Keller many years
ago, but which never operated, This
machinery is being dismantled and
transferred to the site of the old
Washington Shelter company, neal
Oroville, by the Smilkameen Customs
Milling and Smelling company, oper-
ated by Carl M. Lundstrom and Fred
A. Davis. The ore mill, will have a
stack erected to handle the two 100.
ton units, and it is also reported that
the company will put up a several
thousand dollar laboratory in connec.
ton with the plant in the near fu-
ture.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
$1,000 JUNE QUOTA
FOR WPA EMPLOYEES

Don G.. Abel, state Works Progress
Administrator, Saturday announced he
had received the encouraging news
from national WPA headquarters in
Washington, d. c., that the June
quota of employees for this state
would be $4,000 in addition to about
5000 WPA workers leaned to other
Federal agencies.
"This is only a drop of 1900 from
cur May QUOTA" said Abel, "and the
difference will be practically taken
care of by the number leaving the
WPA for private employment at the
present rate. Tt will give us an oppor-
tunity to hire needy heads of families
from the list of those certified by the
state to fill all vacancies occurring
beyond this NUMBER :.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
Irrigation Unit
Money Asked

"The Quincy7Columbia basin irri
CATION district, its organization nov
confirmed by the Grant county super
ior court, wants an appropriation OF
$lO,000,000 with which to start con
struction of the main canal Of the
Columbia basin reclamation project
within one year, said James O'Sul-
livan, district secretary, in Spokane
the first of the week.
Mr.. O'Sullivan declared the "cour-
It's action after the legality of the dis
trict," and the district was preparing
papers for the annexation Of $1,000
ac: es of land.
This land was temporarily left out
CT the district at the time of its or
ganization February Is, 1889, be-
cause the legislature had not yet rati.
fled the federal anti-speculation act,
explained Mr. O'Su1nvan. This will
give the district total of 100000
acres.
.'The district proposes speedily
moving program and soon will ask
the United States reclamation bureau
tc make a contract with the district,
which will be under the west canal,
for the delivery Of water,'' added
Secretary O,SulIiyan
"The district as it's early objective
is out to- get the main canal from the
Grand Coulee dam constructed to a
point seven miles south of Coulee City
This canal, including the Grand Cou-
lee reservoir lake, will be 35 miles in
length, of which the lake will be 26
miles.
"To have the main canal complet-
ed when the dam is finished, is the
districts hope. This will put both the
reclamation and dam projects over
the top"
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
FATE OF UMATILLA DAM
Is STILL. NOT CERTAIN

The fate of the Umatilla dam has
not yet been decided, Congressman
kDute Hill said toay.
"There is still good possibility
the Senate will ada the dam as an
amendment and the House can be
persuaded to accept the addition when
the Rivers and Harbors bill returns to
the House following the conference
Hill also pointed out that the
Houses rejection of the Umatilla pro-
posal followed the swing of the ke-
publican forces RIO .the side OF the
pro-railroad group which was oppos-
ing the Tombigbee project in Alabama
Only ten Republicans, mostly West
erners, joined 149 Democrats to sup
port the project. and 1877 Republicans
and 65 Democrats opposed it.
Congressman Hill and Pierce are
comforting with Senators Bone, Schwel
lenbach and the Oregon Senators,
Senator Hill of Alabama and Senator
Bilbo of Mississippi, in an effort to-
secure favorable Senate action on the
proposal.
Commenting upon the prospects of
Inclusion of the Umatilla project in
the final river bill, Hill said that the
light was still an uphill one, but that
he would not accept defeat until ev-
cry legislative possibility was tried.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
LUCKY PILOT RECEIVERS

Pilot Bob Wittig today was recov-
oring from severe bruises suffered
Monday in plane t.ke-off crash in
which Arthur Be htol of Coulee CITY
was fatally injured on Wittigs par
ent's ranch at Mansfield
Bechtol, survived by a WIDOW and
small child, died in an ambulance en-
route to .Waterville with fractured
skull, arm and leg.
Wittig said gust Of wind drove
his biplane down from an attitude of
$50 feet quarter mile after calm
air take-off as he attempted to bank
hoad-on into the wind. The plane
made two circles, and crashed, tearing
off left wings and burying the motor
III the mud near Jamison lake.
Wenatchee airport attendants said
Wittig c ashed a year ago in the
same plane at Pateros, Wash, when
he understood the field.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
) DO
! YOU
KNOW?
BY Washington stoie Progress commissiee

BY Washington stdfe Progress commissioo
What authorities say is probably
the first settlement in the state with
the exception Of trading posts still
stands alongside the Pacific Highway
south of Chehalis.
1t is known as "Jackson House -
and was erected as the home of John
R. Jackson, who located his claim
Nearly in 1854. AS this was the only
Nhome on the Columbia-Puget Sound
rSute, it sheltered many of the early
travellers. Lieutenant U. s. Grant,
firAt general and then U. S. presi-
DENT, spent a night there in 1852,
GEM Issac l. Stevens and his family
stopAed there i'm 1854, and many i'm
portaht meetings were held under it's
roof!
The first court north Of the Col,
umbia was held at Jackson House by
Judge William Strong in 1849.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01
FOUR FOOT RISE MADE IN
WEEK AT COULEE DAM

Consolidated Builders, Inc, this
week will have poured one-third of
the concrete, under its contract for
completion of Grand Coulee dam.
The company's contract is for a.
bout 5,S50,000 cubic yards. Monday
figures showed that 1,S69,84O cubic
yards had been placed. The 2,000.-
00O-yard mark will be passed in about
a week, progress charts indicated.
Company Officials anticipated pour
ing million cubic yards every two
and a half months this summer, but
shortage of cement, as announced
Saturday, may curtail operations 20
to rs per cent. Inc daily pour Tor
the next few weeks will be 10000 to
1000 yards, according to Edgar L.
Kaiser, project manager for Obi.
Dam Grows Higher
The dam has been rising about
cul tailment, the top of the dam will
reach the deck of the construction
tiestle in September or October.
Within six weeks, CBI's abutment
pouring will be confined to the up
stream side of the 50foot wide trestle
because the top of the downstream
incline Of the dam Will be under the
ueck.
All concrete pouring will be limited
to the two abutments until late in
July, when the Columbia will have
dropped sufficiently from its flood
stage to allow Obi to return to the
middle section.
The spillway is 1850 feet long and
about 240 feet wide. The west abut-
ment is 900 feet long and 200 feet
wide, and the east abutment, $50 feet
long and 200 feet wide.
Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1939-06-01

A~~The founding Of the Washington
statsGrange, which celebrates its fiji
tieth anniversary this year, will be
depict depicted in smo"i'' June "A at
On that day CNmas, birthplace Of
the state organization, will entertain
upwards of 5000 Changers from three
states as part of the program of the
Washington Oranges Golden Jubilee
convention in Vancouver from June 3
to Is.
The Oranges own Golden Jubilee
has a significant part in Washing
ton 's Golden Jubilee of statehood, ac-
cording to the Washington State Pro-
gress Commission, since both are fifty
years old this year. The grange was
formed exactly two months, Septem.
her IL, 1889, before Washington was
admitted to statehood
Camas business men are planning on
gala entertainment for the visiting
Changers.