davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-07-09
Home Borrowings for May
Hiuhest in 3 Months
BY the Associated Press.

BY the Associated Press.
CHICAGO, July 8.-Home build
ers, buyers and repairers borrowed
$50 1923 900 during May from savings,
building and loan associations, the
United States Building and Loan
League reported today. This sum
was the highest in % months.
The portion extended for new con-
struction was s26.646, 900, or 299 per
cent, and was the highest under
taken by these institutions in any
one month since before the depres-
sion, said A. D Theobald. assistant
vice president of the league.
Loans for home purchase totaled
s31 $4,000 and for repairs and
modernization, $6,069,0 1000. Both
figures were the highest since
June, 1887.
For the first time in three years
there was no decline in spring build
ing during May, Theobald said
Total loans during the month show
ed improvement of 68 per cent, COM
pared with April.
California, Ohio and New York
were the leading States in construc-
ton loans. Other leaders were the
District of Columbia, Pennsylvania
and Illinois. These accounted for
more than half of the total dollar
volume of construction loans.
Home purchase loans also were
heavy in these States and also in
Maryland and New Jersey.
Evening star., 1939-07-09
{. {. A. 10 Hold Hearinq
On Cargi|| Case July 81
BY the Associated Press

The Commodity Exchange Ad-
ministration announced yesterday
that a hearing on a complaint of
alleged price manipulation" made
against Cargill, Inc, Minneapolis
grain concern, by Secretary Wallace,
will be held here July 81.
The complaint, filed last Decem-
ber, charged Cargill, Inc; the Car
gill Grain Co. of Illinois. a sub
sidiary, and four officials of the two
concerns with having manipulated
and with having attempted to ma
nipulate the price of the 1887, Sep
tember, and 1887. December, corn
futures" on the Chicago Board OF
Trade.
The officials also were charged
with having engaged in fictitious"
sales of corn futures on the Min
neapolis Chamber of Commerce.
The officers named in the COM
plant were J. H. Mcmillan, jr.; E.
j. Grimes, Julius Hendel and Philip
Sayles
Officials said that if the charges
were substantiated, trading priv
ileges on commodity markets could
be denied those involved.
The hearing will be held during
a recess of a hearing on charges
of price manipula ton made by the
Cargill concern against the Chicago
Board of Trade, involving the same
futures contracts.
Evening star., 1939-07-09
Capital Trade
Drops Behind
1888 Marks

Retail trade in Washington de-
partment stores for the week ending
Wednesday was reduced by the ex-
tended holiday, resulting in de-
crease of 245 per cent from the
corresponding week a year ago, the
Commerce Department reported yes
terday in reviewing business condi-
tions in So key cities. Comparing
the flve-day week with the previous
six-day week, store sales in the
Capital were of II per cent, the
report added
Bank clearings for the week to-
tailed $24 24,390.027. against the lower
figure Of $23,586,659 a year ago
Building permits were also well
ahead of last year, s328,5OO, COM
pairing with $197 $50, while the total
for June reached $2,289 300, against
$2,042,175 in June, 1898.
Total passenger revenues of the
Capital Transit Co. amounted to
1920, ,493, good gain over $2O3,812
a year ago. The number of visitors
to the Washington Monument was
larger than in the previous week or
IN the corresponding week last year,
indicating that tourist travel is hold
ing up well.
Trade was spotty in the rest of the
fifth district. Charleston, S. c., re-
ported II per cent trade gain over
last year. Norfolk reported labor
placements during June as almost
double the total a year ago, the
Commerce Review stated.
Evening star., 1939-07-09
Cost Of Homes Still Above
Many Family Incomes
Special Dispa tch to The Star.

CHICAGO, July 8.-The average
new house being built in the United
States today Is costing around S.
Alb and the average old house being
sold is priced at around S4957, ac-
cordlng to a survey made by the
Mortgage Bankers Association of
America among its members in 65
representative cities.
The highest-priced new house is
being built in 80 Middle Western
cities, where an average cost of S.
966 Is shown. In 10 Eastern cities
the average cost indicated was S.
1863, and in II Far Western and
Mountain cities the average cost
was 5,568 The lowest cost in new
house construction was shown for u
Southern cities and averaged s4,277
Sales OF existing houses are fol-
lowing the same trend in these four
sections. The average sale in 80
Western cities is being made at
around s5,266 while the next highest
figure, s5,033, is for 10 Eastern
cities. The average old house being
sold in IL Far Western and Noun
tain cities is around $4,000, while
the lowest average sales price re-
corded in the study was s4,531 for
II Southern cities.
These figures show that the
country is still building houses for
the smaller proportion of its citi-
zens.' said S. M. Waters, president.
The National Resources Commit
tees study revealed that 70 per cent
OF urban non-relief families have
incomes of less than $4,000. One
half Of these urban families cannot
build houses costing more than So
500 to $4,000
Evening star., 1939-07-09
Wheat Crop Of Danube
Basin Above AVERAGE
BY the Associated Press.

The Agriculture Department re-
ported yesterday that the 1899 wheat
crop of the Danube basin producing
countries. now being harvested, has
been unofflcially estimated at 410,-
100000 bushels
While such crop would repre-
sent a decrease of about 13 per cent
below last years record production
of All 100000 bushels, it would be
some 20 per cent above the average
crop of 100000, 900 bushels harvested
during the five-year period ended
with 1887.
The department said much inter-
est attached to the wheat crop
situation in the Danube basin area
not only because it was the principal
surplus-producing area in Europe,
but also because it competed in
European markets with grain from
Canada, the United States, Argen-
tina and Australia.
Evening star., 1939-07-09
Stock Market Sleeps;
Prices Irregular in
Narrow Rut
Some Utilities, Coppers,
Rubbers, Mail Orders
And SpeeioIties Goin
WHAT STOCKS DID.
By FREDERICK GARDNER,

by FhEDEhICh GAhDNER,
Associated Press Financial Writer
NEW YORK, July 8-The stock
market made a few feeble recovery
gestures today, then resumed the
slumber which it started at the be-
ginning of the week.
While some utilities, coppers, rub
bers, mail orders and specialties
managed to emerge with modest ad-
vances, numerous issues finished un-
changed to down a shade.
Attendance in boardrooms was
virtually at zero, many traders elect
ing to lengthen the weekend holi-
day Dealings. consequently, were
exceptionally light. In fact, the
turnover Of 1890 shares was one
of the smallest two-hour aggregates
in 81 years.
Actually, it was the lowest volume
since June l8, last year, when the
figure of 100000 shares was the most
diminutive since 1918.
1t compared with 185, 400 a week
ago. Dealings for the week amounted
to only 1,442, ,130 shares, lowest mark
since 1921. In the preceding week,
3,l26, ,290 shares changed hands.
Losses and Gains Divided.
Losses and gains of fractions to a
point or so were about equally di-
vided at the finish, with the result
the Associated Press average Of so
stocks was unchanged at 46.2. Due
to a run-up Wednesday, following
the Fourth of July recess. this COM
posite showed net advance on the
week of Z of a point.
There was no change for the
worse in the foreign picture, and
business prospects on the home
front continued moderately bright.
BullishnesS, however, apparently
was restrained by spreading labor
troubles centering in General Mo-
tors and the w. P. A.
Despite its strike General Motors
held its recession to "a OF a point
at 42s4. The company, after the
close, announced June sales of cars
and trucks numbered l56,959 units,
against l45,786 in May and 10l .9O8
in June. 1888
Brooklyn Union Gas jumped more
than point following a court tax
decision in the company's favor
which may mean saving of some
5000 900. Other utilities were aid
ed by mounting power consumption
Coppers again attracted attention
as heavy world wide demand
brought another lift in the export
price of the metal to 10.40 cents a
pound. a new high since last jan
uary 9.
United States Steel and Bethle-
hem ended at yesterdays final quo
tations as next weeks mill opera
tons were expected to rebound sharp
ly. Maintenance of large consumer
spending for merchandise propped
store stocks.
Among the days gamers were
Chrysler, United States Rubber
Montgomery Ward. Consolidated
Edison. North American. Anacon-
da, Great Northern, j. c. Penney
and New York Shipbuilding.
In the curb fractional gains were
scored by American Cyanamid b
and Consolidated Copper Gulf Oil
and Imperial Oil shaded lower.
Turnover of $4,000 shares compared
with $4,000 a week ago.
Evening star., 1939-07-09
Heaviest Copper
| Sales in Three
Years Reported
~ the Associated Press,


NEW YORK, July 8.-Sales of do
mestic copper on Friday totaled more
than $4,000 tons, the largest single
days business in around three years,
incomplete dealer reports indicated
today.
Some copper men thought there
was a possibility the Friday volume
might approach, or even top the
record established July 81, 1896,
when 106,10l tons changed hands.
Complete sales figures will not be
available until Monday.
The heavy buying was accom-
panied by two price boosts of Il
cent each, bringing the current price
for the red metal to 10A cents a
pound.
Flourishing demand-at least for
a week end-was also reported from
export markets. Copper abroad sold
as high as l0.40 cents a pound, best
level reached since January 8.
In the past buoyant prices for ex-
port metal have presaged advances
in the local market.
Evening star., 1939-07-09
World Wheat Markets
Slump More Than
AGENT a BusheI
Good Conudiun Crop
Prospects and Heavy
U. S. Offerings Cited
BY FRANKLIN MULLIN,
Associated Press Financial Writer.

CHICAGO, July 8.-Depressed by
prospects of huge Canadian wheat
crop and by heavy marketings of
United States grain as harvesters
progress northward, world wheat
prices today slumped more than a
cent bushel to the lowest levels in
several years in some markets.
Chicago wheat closed q Ia cent
lower than yesterday at the lowest
quotations of the year and the
lowest for July in seven years. Final
figures of 66l2-ss for July contracts
and 67l2-ss were only IL to cents
above the seasons bottom and were
about IA cents below the highs es-
tablished a month ago. Corn fell to
new lows since 1884
Liverpool prices also were 34-14
off at the lowest point in nine years.
Winnipeg quotations, which dropped
2l2 yesterday. tumbled about IL at
one stage to new lows for the past
several years. There were moderate
rallies at Chicago and Winnipeg
from the days bottom levels, how
ever.
The Canadian government report
showing the wheat crop condition
to be l02 per cent of a long time
average caused some grain men to
estimate winter and spring wheat
production in Canada may total as
high as $50 or 460 million bushels
compared with $50 million produced
last season. This would be the
largest in II years and the fourth
largest on record.
The United States Government
will release its July forecast Monday
and many traders anticipate that
improved production possibilities
may be revealed in view of recent
good weather.
Other grains slumped with wheat
corn losing l2-7s; oats. 1s-12, and
rye. AS. Lard closed unchanged
to 5 cents lower.
The close put July corn at 4614 "a
and September at 47a4-7s, only
slightly above the days lows, which
were the lowest witnessed in the
corn trade in five years.
Grain range at principal markets
today:
Evening star., 1939-07-09
Republican Elected Chief
Of Power Commission
Ev tho Associeted press

Ey the Associated Press.
A Republican, Clyde L. Seavey of
California, was elected chairman of
the Federal Power Commission yes
terday and the other Republican
commissioner Claude L. Draper of
Wyoming was named vice chairman.
The election took place at the
commissions first full meeting since
1887. A new member, Leland M
Olds of New York, was sworn in
yesterday.
Olds is affiliated with the Ameri-
can Labor party. The other men,
bers, Basil Manley and John w
Scott, are Democrats. The commits
sion announced that the elections
were unanimous.
Mr.. Seavey, who had been acting
chairman since Frank r. McNinch
left October l, 1887, to head the Fed
eral Communications Commission
will serve as chairman for the re-
mainder of his time which expires
June %, 1910.
Evening star., 1939-07-09
United Air|ines Asks
Permission 10 Merge
Western Air
Addition of Routes Is
And l9 to For-FIung
System Planned
By the Associated Press.

The United Airlines Corp. applied
to the Civil Aeronautics Authority
Yesterday for permission to acquire
Western Air Express Corp. and
merge it into United's far-f1ung
system
Western Air operates two routes
in the West, known officially as
routes 13 and 10.
The first extends from San Diego,
Calf, to Salt Lake City, Utah, with
Long Beach and Los Angeles, Calf.
and Las Vegas, New, as intermediate
points.
Ruote No 19 extends from Salt
Lake City to Great Falls, Mont. In
termediate points are Ogden, Poca-
tello and Idaho Falls, Idaho, and
West Yellowstone, Butte and Helena,
Mont.
BY operating Westerns present
routes, United said in its applica-
ton, substantial savings would be
effected in the elimination of dupli-
Gated services.
Opposed by Senators.
The proposed acquisition of West
ern Air by United, the application
said, will not result in creating a
monopoly or monopolies and thereby
restrain competition or jeopardize
another air carrier not a party to
such acquisition of control but
will continue, on a more equal basis
/ the competition now existing be-
tween the complimentary United
Western systems and American Air
lines, Inc, and Transcontinental &,
Western Air, Inc, between Southern
California, the Eastern Seaboard
and intermediate points,
The deal was disclosed informally
some time ago and has aroused op-
position on Capitol Hill. Senators
OMahoney, Democrat, Wyoming
Wheeler, Democrat, Montana, Nc
Carran, Democrat, Nevada, and
Clark, Democrat, Missouri, charged
that it was turn toward monopoly
Acquisition of Western would give
United direct entry into Los Angeles
from the East.
Enters Into Agreement.
United has entered into an agree
ment with large Western stockhold-
ers for the purchase of 229 ,80s
shares, or more than SIS per cent OF
Westerns capital stock. For their
Western holdings they would receive
one-third share of capital stock OF
United for each share of Western
or sl.66 in cash, plus one-sixth share
of capital stock of United for each
share of capital stock of Western
Western stockholders who have
entered into an agreement with
United and the number of shares
held by each:
William A. Coulter, 114232; Mar
garet Coulter, $4,000; Charles
Boettcher, second, 16,705; Boettcher
& Co., 12,433; James @. Newton, jr.
5000; Muried M. Willard, 1000;
Lucille R. Brown, 1,0OO Will F.
Nicholson, 1850, and Alfred Frank
1876.
Evening star., 1939-07-09
Wallace Calls Conference
OF Cotton Textile Trade
Ry the Associated Press.


Secretary Wallace announced yes
terday that he had invited repre-
sentatives of the cotton trade and
textile industry to attend a con-
ference here July 13 to discuss plans
for subsidization of cotton exports.
The Agriculture Department pro-
poses to pay bounty on cotton
sold abroad in an attempt to in
crease exports to more nearly
normal level. Shipments abroad
this season are expected to total less
than 3,500,000 bales. compared with
normal exports of slightly more
than 100000 bales.
The Secretary will seek sugges-
tions of the cotton trade on de-
tails of the subsidy plan, which is
expected to be inaugurated by the
time the new crop starts moving to
harvest in August.
Evening star., 1939-07-09
by the Associated Press.

The Commerce Department re-
ported yesterday Germany's pur-
chases of American goods slumped
sharply in the first five months Of
this year.
The Reich has been hard pressed
to obtain foreign exchange with
which to buy made prod
ucts. Exports of merchandise from
the United States to Germany fell
from $43 ,280,00 in the like period
of last year to $29 1925 900 in the first
five months of this year. On the
other hand, sales of German prod
ucts to the United States rose to
$32 ,039 900 from $23,717 900 last year.
Other sharp declines in exports
in the first five months, compared
Evening star., 1939-07-09
CommodityPrice
Chongesin Week
BY the Associated Press.

By the Associated Press.
NEW YORK, July ga few key
basic industrial raw materials, also
textiles, worked higher this week,
despite the fact that lower prices
for farm products in cash markets
sent commodities as a group into
lower ground.
The Associated Press index of 35
weighted spot wholesale staple
prices. with 1926 as 100, declined to
6562 from $3.50 in the preceding
week and 67.56 in the like week last
year.
On the upside among industrial
materials were copper, coal and cot
ton. Lower, however, were rubber
and tin.
New rises in prices of wool and
silk sent the textile component of
the Associated Press index to a
new 1899 high.
Among the grains, cash wheat,
corn, oats and rye were all down.
Lambs advanced in livestock mar
kets, but cattle were lower.
Lard tilted upward among house
hold market basket items, while less
costly were cocoa and flour.
The commodity index, with its
COrnDOnentS cOr1pared aS follOu-S.
Evening star., 1939-07-09
McGiII Staple Index
Shows Little Chunoe
Special Dispatch to The Star.

SpeNia4 D4opdtSb " Hc olhI
AUBURNDALE, Mass, July g.
Commodity price changes during the
first week Of July were of minor
proportions. The index for all COM
modities, compiled by the McGill
Commodity Service of Auburndale,
Mass, was placed at 67.2 for July T.,
which compares with 67.6 for a week
earlier and 685 on January s, 1899.
OF the IA individual group classi-
fications. four were higher, seven
lower and three were unchanged
from the previous weeks levels.
The index for industrial products
was fractionally lower, as weakness
in fuels, hides and leather, non
ferrous metals and vegetable oils
more than offset strength in building
materials. paint materials and fine
and coarse textiles.
The agricultural index also de-
clined, as higher prices for corn
and butter were offset by declines in
wheat. oats, rye, eggs, potatoes and
f1axseed.
Evening star., 1939-07-09
Dividends Are Voted
By Loan Concern

Regular quarterly dividends at the
rate of 7 per cent on the preferred
stock were declared yesterday by
the Southeastern Industrial Bank
0s, Inc, parent company in a
chain of IA industrial loan COM
panies operating in the District OF
Columbia, Maryland, Virginia and
West Virginia. The dividends will
be paid to stockholders July II.
Payments OF 7 per cent on pre-
ferred and 10 cents share on
common were made to stockholders
in the Washington Industrial Loan
Co., an affiliate, in the last week.
Evening star., 1939-07-09
General Motors Sales Soar
Far Above Year Ago
q, the Associated Press.


NEW YORK, July 8.-General
Motors Corp. today reported June
sales of cars and trucks from all
sources of manufacture totaled 1856
$50, compared with 145,786 In May
and 1o1 ,9O8 in June a year ago.
Sales to dealers in the United
States amounted to 124,048, against
112.s68 in May and 1885 in June a
year ago.
sales to consumers in the United
States stood at 124,618, contrasted
with 129053 in May and 76,07l last
year.
For the first six months of the
wear sales from all sources OF manu-
facture totaled 950,99S, compared
with 613,953 for the similar 1888
period.
Sales to dealers in the United
States for the first six months
amounted to 38,788, compared with
41s,64s last year. Sales to consum-
ers totaled TOO, ,461, against 498,120
in the first half of 1888.
Evening star., 1939-07-09
Chain Tax Lows Cut

NEW YORK. July 8 (SpeciaD -
End of the 1889 legislative season
found three fewer States with chain
store taxes, despite the fact that
more than go chain store tax bills
were considered in "a State Legis-
latures, q national survey Of chain
store taxes reveals. Tax laws aimed
at chains were nullified during the
year by the highest courts Of Ken
tucky. Pennsylvania and New Jersey.
Evening star., 1939-07-09
Simmons Co. Accused
Of Price Violations
BY the Associated Press.

BY the Associated Press.
The Federal Trade Commission
said yesterday it had issued a COM
plant charging the Simmons Co.,
New York, with price discrimina-
tions in violation OF the Robinson
Patman Act.
Under a discount plan of the COM
pany, the commission complained,
Simmons disseminated against in
dividual purchasers of less than
S50,000 worth of merchandise in a
year and in favor of those compet-
ing individual customers purchas-
ing more than that amount, and
there were few of the latter class"
The company manufactures beds,
mattresses and allied products.
Evening star., 1939-07-09
CeIebronts Poy Toxes

CHICAGO. July (SpeciaD -
Fourth OF July celebrants this year
spent $4,250.000 for firecrackers,
skyrockets and other pyrotechnic
peace disturbers, according to the
National Consumers Tax Commits
sion. But they paid tribute amount
ing to $1,4l6,666 to the tax collector
in the form of hidden taxes, the
women's tax education group says.
Evening star., 1939-07-09
Reich Imports Of U. S. Goods
Off Sharply in Five Months

with the like period of 1888, were
Argentina, from $42,971 900 to S21,-
$4,000; United Kingdom, from
1924, ,738 900 to $193, ,129 900; Soviet
Russia, from $3o,748 900 to $19,84S.-
600; Canada, from $196,473,O00 to
S161 1895 900. and Japan, from $109
638, 900 to 500 6,267 900.
Frances purchases of American
goods gained to $54, ,493 900 from
$59, ,102 900 in 1898.
The report showed these upturns
in American imports: Canadian
products from $97, ,457 900 to $l22,-
244,000; Argentina, from $685. :
900 to SIC, 900; France, from
-- to $28,162 600; the
United Kingdom, from $43,558, 900 to
SCI ,058. 900.
Evening star., 1939-07-09
Industry Aids Fiqht

BALTIMORE, July (SpeciaD -
Large-scale operating methods as
we'll as materials of mass production
industries are helping the Maryland
League for Crippled Children carry
the fight against infantile paralysis.
Braces of aluminium, combining
strength with light weight, and rub
Der and leather, in so sizes, are
stored for rush auto shipments to
victims anywhere in Maryland or
elsewhere along the Eastern sea-
board.
Evening star., 1939-07-09
War Seores Spur Gold
Flow During Week
By the Associated Press,

Continued war scares abroad
quickened the flow of gold to this
country in the week ended June 80.
The Commerce Department re-
ported gold imports rose to s77,844,-
$50 from $60,602,435 in the week
ended June %.
The bulk of the inflow came from
Great Britain and the Netherlands.
In the week ended June 3O gold
exports rose to $4,746 from $3,906
in the previous week.