davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-02-21
kennecott Declares
b-Cent Dividend
On Capital Stock
Similar Amounts Paid
In Three Quarters
Of Lost Year
B, the Associated Press.

B, the Associated Press.
NEW YORK. Feb. 21.-Directors
of Kennecott Copper Corp. today de-
clared a dividend of Is cents on
capital stock. payable March 81 to
holders of record March 3. In
March, June and September last
year similar amounts were paid
while ST was disbursed in December.
Midland Steel Products.
Directors of Midland Steel Prod
ucts declared dividend of So a
share on the company's 8 per cent
cumulative first preferred stock, so
cents share on the non cumulative
dividend stock and so cents a share
on the common, all payable April
to shareholders of record March 8.
Chicago Flexible Shaft.
Directors of Chicago Flexible Shaft
Co. yesterday declared an extra divi-
dend of Is cents common share, in
addition to the quarterly dividend of
S1.25 share, both payable March
81 to holders of record March 21.
The dividend action placed the issue
on regular s5 annual basis, COM
pared with 81 previously.
Evening star., 1939-02-21
{. & 0. Pushes Spending
Plans at Newport News
By the Associated Press.

BY the Associated Press.
RICHMOND. Va. Feb. 21-The
Chesapeake e. Ohio Railway said
Yesterday approximately 1892 900
will have been spent on it's mer-
chandising piers at Newport News
when work now under way is COM
pleted
This is part of a S1O42 900 mod
ernlzation and improvement pro-
gram undertaken at the Newport
News terminal, one of the focal
points OF new construction projects
totaling S2,384.199.
The Newport News work, most of
which now is complete. included:
determination of coal pier No. g.
s5O0,OOO.
Rebuilding and strengthening of
merchandise piers. 100000.
Installation of automatic sprin-
klers on merchandise piers, s132 900.
Construction of additional ware
houses to handle export tobacco
business. 100000.
New oil-unloading facilities on
pier No. 8, intended chiefly for
facilitating the handling of whale
oil, $4,000.
The railway Offices here said work
was about complete except for the
sprinkler installations and oil
unloading facilities.
Evening star., 1939-02-21
Stock Averages
BY VICTOR EUBANK,

Associated Press Financial Writer.
NEW YORK, Feb. 21.-Mild re-
coveries today dotted a sloW-going
stock market ticker tape, but many
issues lacked even slight rising ten
dencies.
Although fractional gains predom-
mated at the close, numerous stocks
were unchanged to off a trifle.
Transfers were in the neighborhood
of 450000 shares.
Tension over foreign affairs ap-
peared to have lesSened somewhat.
but speculative forces were disin-
cllned to make any large Wagers on
potential overseas happenings. At
the same time, opinions were heard
IN boardrooms that recent war talk
may have been much louder than
really was Justified.
Business news provided no out
standing market inspiration. 1t was
suggested spring prospects were
rather obscure, despite the belief of
some observers an upturn could
easily get under way because of ex-
cepllonally light inventories in most
lines.
Part of The days apathy was at
trlbuted to the fact traders wished
to keep commitments small over the
holiday tomorrow, when markets
will be closed in commemoration of
Washington's Birthday.
Stocks in London pointed higher
In response to the proposal of gov
ernment to finance heavy rearma-
ment spending through borrowing
rather than by new taxation. Other
securities markets abroad were un-
even.
On the home front support was
accorded shares of United States
Steel. Bethlehem. Chrysler, General
Motors. United States Rubber, Sears
Roebuck, Montgomery Ward, Boe-
ing. Glenn Martin, Consolidated
Edison. Santa Fe. PENNSYLVANIA,
Standard Oil of New Jersey and
Celanese.
Evening star., 1939-02-21
B. & o. Loodings Gain
Slightly in Week
srecial Dispatch to the Star.

Special Dispatch to the Star.
BALTIMORE, Feb. 21.-Baltimore
& Ohio carloadings for the week
ended February 18 totaled 1864,
including 25.405 car loaded on line
and 14,159 received from connec-
tions.
This was an increase of 4.9lO loads
over the corresponding week of last
year, when the total was 34,654. COM
prising 22,445 cars loaded on line
and 12,209 received from connec-
tions.
During the previous week of this
year (the week ended February I'D
total loads were 39,448, consisting of
25.796 cars loaded on line and 49,
652 received from connections, so
the total for last week showed an
increase of 1l6 cars over the pre-
vious week.
Evening star., 1939-02-21
Gulf Stotes Utilities
Will Redeem Issue
Z .ecial DiSpAtch To The Star

Steclal Dispatch to The Star.
NEW YORK, Feb. 21.-Gulf
States Utilities Co. has today called
for redemption on March 23 1899,
all of its 10-year Az per cent de-
bentures. due October l, 1916. and
outstanding in the amount of So
286,000, at 1922 per cent of their
principal amount plus accrued in
terest to the redemption date.
The debentures will be redeemed
upon presentation at the principal
office Of Bank of New York, 48 Wall
street. The company also is PLAN
ming to retire a S1,500,00O advance
carrying 4 per cent interest rate
made by an industrial customer fo-
construction purposes.
Funds for the retirement of these
obligations of the company will be
provided in part from the proceeds
OF $4,000,000 loan from the Chase
National Bank of the City of New
York, to bear interest at 8 per cent
and mature serially over a period of
61a years.
Evening star., 1939-02-21
Refunding Arranged
By C|eve|und-CIiffs
By the Associated Press.

NEW YORK, Feb. 21.-Cleveland-
Cliffs Iron Co. yesterday completed
arrangements for refunding $13.-
100000 of outstanding first mort :
gage 4a4s due 1850, by the sale of
$11 100000 first mortgage 3A per
cent bonds maturing in 1851 and
$2,500,000 of one to five year serials
bearing III to 2l2 per cent interest
Lehman Bros. negotiated the
sale of the first mortgage issue to
five insurance companies, while
three commercial banks are taking
the serial notes, the investment
banking concern said.
Evening star., 1939-02-21
Dollar Moves Higher
In London Trudinq
By the Associated Press.

BY the Associated Press.
LONDON, Feb. 21.-Final rate for
United States dollar was 4.68 ILLS to
the pound in foreign exchange trad
ing today. up 1-16 of a cent, COM
pared with sterling at $468s4 in New
York overnight.
French francs finished 1857 to
the pound, net unchanged.
PARIS, Feb. 81 (P).-The United
States dollar finished at 37.7625
francs (2648 cents to the france in
foreign currency dealings today and
compared with the franc at 2.649
cents in New York overnight. Ex-
change on London, 1867.
In the Bourse, 3 per cent rentes
were $500 francs; AVS "a, 87.3O;
412s 1887, 1885.
Evening star., 1939-02-21
Ohio Bell Nets
s., 9,986,033 for
Twelve Months
By the Associated Press.

By the Associated Press.
CLEVELAND, Feb. 2l.-The Ohio
Bell Telephone Co. reported today
net income for 1888 of s9986,O33,
second best in its history.
This compared with the record.
sl0,278,l76 in 1886, and the third
highest profit Of s9.80O,141, in 1887.
Ohio Bell is subsidiary of the
American Telephone & Telegraph
Co.
President Randolph Eide an
nounced a net gain of 18,O98 tele-
phones, or 2.6 per cent. over 1887.
Telephones in service at the end of
1888 numbered 1883, or 1904
under the 1880 peak.
Evening star., 1939-02-21
Offers Highest Price
For Baltimore Issue
BIZ TIE Associated presS

q! TIE Associated Press.
BALTIMORE, Feb. 21.-A syndi-
cate OF the Bankers Trust Co. of
New York and the Northern Trust
Co. OF Chicago made high bid Of
1OO.279 today for an issue of $4,-
025, 900 OF Baltimore city emergency
relief bonds.
The bonds bear interest of ~
per cent.
Five other bids received were:
Alexander Brown & Son syndicate,
lOO.254; Smith Barney & Co. syn
dlcate, 100.179; Halsey Stuart and
associates, 100.113; Makubin, Legg
Co. syndicate, 1O010, and Shields
& Co. syndicate, f0O.O3.
Evening star., 1939-02-21
Foreign Markets

LONDON. Feb 81 GP-Traders in the
stock market were favorably impressed
by Chancellor Simon's speech on arna-
ment costs and most securities advanced
sharply. The heavy industry group. brew
ing issues, motors textiles and electrical
EQUIPMENTS made good gains and oils we're
very hrm on continental SUPPORT Rub
bers and home rails remained quiet and
British funds closed fractionally higher
level
PARIS. - Government securities and
banking shares were fractionally easier on
the Bourse today. Rentes closed centimes
up to lower and Bank OF France lost Is
francs. Royal Dutch and Suez Canal were
unchan1ed
Evening star., 1939-02-21

tions Board, Emergency Fleet Corp.
and the War Industries Board. He
was elected to the United States
Senate in 1880 and served success
sively until his retirement January
!, 1899.
During his terms in the Senate he
served on very important commit
tees, the Banking and Currency
Committee and the Finance Com
nittee, because of his broad expe-
rience in the banking field
Senator Bulkley was the first
president of the Morris Plan Bank
of Cleveland, and also served as it's
chairman of the board for a great
number of years, and is now in the
general practice of law in WASH
tngton.
Years Revenues Estimated.
The Capital Transit has issued
most interesting revenue calendar"
for 1899 in which the average daily
revenue is expected to total S31 300,
the different expense items being
shown in different colors, printed
over the months.
The estimate shows that 1872 days
revenues will be required for oper-
ating wages. This will take the
income for every day of the first six
months of 1899, with July ! added
The next 80 days revenues will be
required to cover operating mate
rials and expenses, all of July, Au-
gust and the first 19 days of Sep
tember being included.
It will then take 80 days revenues
to cover taxes, the estimate says, or
from September 10 through October
81. A still larger amount will be re-
required for appreciation, AZ days
revenues being assigned to this item,
or from October through November
and including December / and O.
With the first two days of Decem-
Der used for depreciation, the next
% days revenues will be needed to
take care of interest payments on
bonds and notes. That leaves just
six days on the years calendar, De-
oember 26, q, %, 20, 30 and 81, the
revenues being "the balance remain
ing for the stockholders. That
would be s187,8oO, provided the aver
ege daily income runs according to
the company's estimate.
Financial District to Close.
The Washington Stock Exchange,
all New York Stock Exchange offices,
the banks and investment houses
will be closed tomorrow, Washing
tons birthday.
Washington Gas Light preferred
stock sold at 105 on the Washing
ton exchange today, off half point
from the last previous sale. Only
-four shares changed ownership.
1t was forecast in the financial
district today that January earnings
of the Capital Transit Co. will be
substantially ahead of the same
1888 month. The report is due
shortly.
American Stores Co. reports sales
from January l to January %, in
elusive, of 1895 1866 as compared
with sales of s8,387,595 for first 20
days Of January, 1888, a decrease of
1891, ,729 or as per cent
North Carolina growers received
.S26,00,000 less for tobacco sold in
the season just ended than a year
ago. Final sales figures for the
season show receipts at $114996.-
2l3, compared with $14l,O60,367 a
year ago.
Evening star., 1939-02-21
Insurance Concerns
Hold $1,000,
Stake in u. ). Farms
Agriculture Official
Tells Underwriters
Of Mortgage Trends
BY EDWARD C. STONE.

insurance companies have a di-
rect stake of more than 81 800 000,-
600 in farm values in the United
States. aside from the interest these
companies share with other buSi-
ness institutions in general agri-
cultural prosperity, Howard R. Toll
ley, chief of the Bureau of Agri-
cultural Economics, told District of
Columbia Chapter, Chartered Life
Underwriters, at the Cosmos Club
last night. This direct financial
interest makes the various programs
for agricultural welfare of major
Importance, he added.
Not only do these programs boil
ster the insurance companies i'm
mediate investment, but they also
have added heavily to farm pur-
chasing power. In turn this has
been contributing factor in urban
business improvement and widened
the companies field for sale of poll
cles, Mr.. Tolley said. He cited the
most recent index of about 124 for
demand deposits in country banks
and rural retail sales, as compared
with an index of about 40 for each
in 1888, when these action" pro-
grams for farmers had their be-
ginning.
Included in the ST ,600,000000 in
vestment of the companies are $685.
100000 of farm mortgages and $705,-
100000 of farm real estate, Mr.
Tolley said A direct contribution
of the Government to maintaining
this stake was the refnancing of
$305,818,000 of insurance company
held farm mortgages by the Farm
Credit Administration in 193337, he
added.
Farm real estate held by insur-
ance companies, Mr.. Tolley said,
amounted to but S88 ,305 900 in 1929,
had jumped to S316931 900 in 1855,
and later to s713,166,O0O. The de-
cline to s7O5 ,207,O00 last year was
the first decrease in the 10-year pc
rlod, the speaker concluded.
Bulkley Joins Bank Board.
Former Senator Robert J. Bulkley
has been elected a director in the
Morris Plan Bank of Washington,
President Willard G. Barker an
Evening star., 1939-02-21
Production Of Ethyl
Alcohol Tops 1893
By the Associated Press

B! the Associated Press
The Treasury says production Of
ethyl alcohol amounted to 17,067,-
389 gallons in January, compared
with 15,607 ,206 In the same month
last year.
For the first seven months of the
fiscal year, however, production
amounted to 115,579.442 gallons,
compared with 122,474,857 in the
similar period of the previous year.
Evening star., 1939-02-21
New York Cotton
By the Associated Press.

NEW YORK, Feb. 21.-Trade buy
ing was offset by selling from the
South and foreign sources in cotton
futures today. Switching transac-
tions also were prominent. with
March and May transferred into
new crop positions at the seasons
widest price spread.
Late afternoon prices we're l to 2
points lower. March sold at S.36
and May at 8O8. each down 2.
Evening star., 1939-02-21
Chicago Grain
b. the Associated Press.

B. the Associated Press.
CHICAGO. Feb. 21,-In a typical
pre-holiday market. wheat prices
bobbed up and down without def
mite direction today and closed very
little, if any, changed from yester-
day.
Dealings were in small lots. mill
buying and hedging making up the
bulk of trading.
Wheat closed Is off to "a higher
compared with yesterday, May. 68a4-
637s; July. 687s SO; corn unchanged
to a up, May, 497s so; July, Sis
5014; oats unchanged to L lower.
Evening star., 1939-02-21
Christionu Securities
Votes $23. so q Share
Nv the Associated press

PHILADELPHIA. Feb. 21.-Direc-
tors OF Christiana Securities Co., a
du Pont family holding concern
yesterday declared a dividend Of
$3.50 a share on common stock
payable March IS to stock of rec
ord February 81. The company paid
1925 each in the first two quarters
OF 1888. $3.50 In the third quarter
and q final dividend OF S275o.
Evening star., 1939-02-21
/. T. & T. Reports Gain
Of 6,646 Telephones
BY the Associated Press,

BY the Associated Press.
NEW YORK, Feb. 21.-Interna-
tional Telephone & Telegraph Corp.
reported an increase of 6,646 tele-
phones installed during January by
operating subsidiaries in eight for
eign countries and Puerto Rico.
The figure brings to 776,63l in
struments the telephone systems
operated by the subsidiaries in Ar
gentina. Chile. Cuba, Mexico, Peru.
Puerto Rico, Rumania. China and
Brazil. On January /, 1888, the
total was 693, los telephones.
Evening star., 1939-02-21
1850 Tons of Leod Sold

NEW YORK, Feb. 81 (P.-St.
Joseph Lead Co. reports so tons of
Southeast Missouri pig lead sold
yesterday at $3.50 per 100 pounds,
East St. Louis. 1880 tons at $4.8O
New York, and so tons at the New
York average.
Evening star., 1939-02-21

nounced today.
Mr.. B u k ! e y
served in the
United States
Senate for many
years, first being
elected in 1911,
later assisting
in the drafting
and enactment
of the Federal
Reserve Act.
Durin G the
World War he
served success
sively as general
counsel of the
Con era1 Mimi
Evening star., 1939-02-21
Winnipeg Prices.
WINNIPEG. Feb. 81 CPl.-Grain range
TODAY
Baltimore Quotations

Baltimore Quotations
BALTIMORE. Feb. u LP.-Wheat No.
= red winter Rarlicky spot domestic
1sa4. This market will be closed tomorroT
Washington's Birthday.
Evening star., 1939-02-21

rim bankruptcy receiverhip
BANKRUPTCY Act or securities assumed
Rates OF dividend IN the dlspurse
ments oaseo
noted special
*o * ol'leend Ex rights Also
.asl yea. fayabe IN stock Declared this
elared Nt''3eNN' '"'o VI oe-
Evening star., 1939-02-21

Cottonseed oil futures eased in quiet
tradins today showing net losses Of 3 to
points around midday. Commission
houses we're on both sides of the market.
Scattered hedge sales in September were
Z points to 679 at the start and may
moved from 100 to 7.O1 for net loss
of g. Crude oil was quoted 534 to SIS
gents Southeast and Valley and b's bid
Texas.
Evening star., 1939-02-21

Indiana Pipe Line Co.-193S COM
mon share earnings were n cents,
against $1O3.
Evening star., 1939-02-21
Chicago Cash Markets.

Chicago Cash Markets.
Cash wheat, sample grade hard 66i3
Corn. No > mixed 49i4 No. yellow.
4Si4 4-49i7. Oats, No. 5 mixed 80: No.
! white, 33l2: sample grade, white $3.50
Barley sample grade SO Soy beans No
2 yellow s3i2 Rye, sample grade. 4Oa4.
Timothy seed. 2.S5-3.15 nominal red
clover. 13.0o-l6.00 nominal; red top.
9.25-15 nominal
Winnipeg Prices
Evening star., 1939-02-21

New York Bar Silver
NEW YORK Feb. 81 (P.-Bar
silver, 42A, unchanged.
Evening star., 1939-02-21
COttonSeed oil

Spot nominal; middling, $50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-12
The Mystery

So bewildering is the world in
which men live and labor that it
cannot be regarded as remarkable
that they find their existence a
defiant mystery. The miracle of
birth, for example, remains a riddle
as little read today as it was un-
counted generations ago. Love, with
out which the race would perish, and
hate, because of which multitudes
suffer agonies of bitter pain, have
yet to be comprehended by the hearts
In which, for good or i'll, they flower.
Truth still is to be appraised, beauty
defined. Meanwhile, chaos prevails
in a planet whose fate no seer, how
ever wise, can guess.
But the human soul does not
despair. When larks sang over
Flanders Fields to mock the roar of
guns, embattled armies paused to lis
ten to their song, declaring: Behold,
God is not lost! Even here He tri-
umphs over He'll! Be of good cheer,
comrades! Peace will return at last
and the sun and the stars no longer
be ashamed of what they see!"
1t was out of the terror and the
horror of war that the Polish artist
Jan Henryk de Rosen returned to
paint his magnetic conception of the
En- toyoo bpooy,t of rhr;ct ~ u1o el,i,r
ton Cathedral. Pilgrims to Mount st.
Adams stand before the picture hyp-
Noticed by its power. They see the
martyred Saviour's face serene be-
You'd the touch of any further hurt,
His hands empty of further toll.
Around him move the mortals
destined to be saints-His stricken
Mother and 1.-THE other Mary" John
the Divine and Mark, Joseph of Ari-
mathea with the Holy Cup, Nico-
demus, a Roman soldier and the rest.
They bear Him to tomb prepared
for eternal sleep. Yet there is no
death, the story is not finished, the
Lord still has work to do. And they
who follow Him shall have no rest
until the Mystery is solved, the Cues
ton answered, the Victory forever
won.
Of course, there is no easy way to
the final goal. Perhaps the harder,
the sleeper, the more arduous the
road the sooner the travellers may
reach the Light.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-12

fathers builded the Republic These
ideals transcend cherished possession, &C.
cumulated wealth, excelling genius and
boosted commercial superiority They
are ideals that are indispensable to our
security and continuing peace, and they
are essentially Christian in character and
purpose. No alien influence must be al
lowed to defect us from our chosen path.
Foreign-born and native alike must be
made obedient to the principles and
ideals that are fundamental to our life.
No cheap profession of loyalty can be
accepted, no partial loyalties allowed.
The situation that faces us has such
grave implications we cannot afford to
temporize with half-hearted, self-seek-
ing expression of loyalty. If We would
be found worthy to serve the large inter-
ests of our own Nation and generously
minister to the needs of the less fortu-
nate beyond our borders, we must be
cleansed and purified by fresh consecra-
ton to American ideals at their best and
highest
There is sore need of this today The
recent years have found us with lowered
moral standards and depleted reserves.
Our capacity to meet trials and misfor-
tunes has of late betrayed weakness and
lessened stamina and staying power
The base of our sympathies needs broad
ening, our generosity needs deepening,
our whole approach to the problems
which war and long-continued depres-
sion have imposed needs finer UNDER
standing and more statesmanlike and
ready response.
In such situation we are called upon
to consolidate our ranks, rid ourselves
OF narrow partisanShip and to act as
united people. To do these things, as
vision OF Him whose love comprehended
and embraced all men everywhere, and
whose mighty sacrifice is the unap-
proachable ideal in time. To contem-
plate once again the teachings and sig
nificance Of Armistice Day, to feel the
thrill that comes to men who vision the
possibilities of Warless world, even
while nations are locked in deadly strife,
this is to rise above the deadening inf1u-
ence of an insular, selfish and cynical
view of life and to join cause with Him
who gave to mankind the highest stand
ards of love and brotherhood and peace
the world has known
Despite wars and rumors of wars, this
is our faith, our hope and our determined
quest. Favored among nations, America,
under God and by her moral courage,
may prove to be the solver of the world S
ills, the adventurous pioneer who shall
usher in new age when happiness and
peace shall be the guerdon of nations and
peoples everywhere.