davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-06-22
Adjuster5 Gather
ToDiscuss
Insurance Problems
Members Of Congress
Listed on Program
Of Three-Doy Meeting

Independent insurance adjusters
gathered here today for three-day
convention marked by discussion
of their problems and speeches by
members of Congress, lawyers and
insurance authorities.
Representative Larsdale G.. Sass
Ger of Maryland was to address the
gathering this afternoon on Re
lation of Insurance to Public In
terest." Another afternoon address
is scheduled to be given by William
M. Mortimer of New York City.
His subject was Inland Marine In
surance Losses"
After two business sessions to-
morrow the adjusters will hold their
annual banquet in the rose room
Of the washington Hotel head
quarters of the convention. The
guest of honor will be Representa-
tive Jennings Randolph of West
Virginia, chairman of the House
District Committee. The toast
master will be Henry I. Quinn,
former president of the District Of
Columbia Bar Association.
A. Burke Summers, president of
General Credits, Inc. Washington,
will address the afternoon business
session tomorrow. His subject will
be What Finance Companies Ex-
pect Of Insurance Adjusters."
New officers will be elected at the
final session Saturday morning.
A. M. Foley of South Bend, Ind,
is president of the organization, and
V. A. Nichols of Washington is vice
president. Mr.. Nichols is also
serving as chairman of the Con-
vention Committee.
Evening star., 1939-06-22
Tax Collections Jump
Ahead Of Estimates,
Ten DaysLett
Log in Expenditures
Also Keeps Deficit
Below Forecasts
~ the Associated Press.

~ the Associated Press
The Treasury announced today
that tax collections to date, with 10
lucrative days to go, already had
exceeded President Roosevelt's jan
uary estimates for the fiscal year
which will end June &c.
Quarterly June income tax pay
ments were a big factor, it disclosed,
IN pushing fiscal year revenue we'll
beyond those estimates.
At the beginning of the year the
President estimated Federal revenue
would total $5520,070,0O0, including
$2086, 100000 from income taxes.
With the 10 heavy collection days
yet ahead, the Treasury said that on
June 20 it had collected $5,566 .65O,-
$50, including S2,148,O7O,134 in in
come taxes.
Because expenditures, which on
June 20 totaled $8,975, ,998,988, also
were tagging behind the budgeted
$9,592,329 900, officials expect the
deficit on June 80 to be approyi-
mately $500,00000O less than the S4,-
o72,259,000 anticipated five months
ago.
Other Branches Gain.
Although income taxes were the
big surprise to the budget makers.
other branches of Federal revenue
also exceeded estimates. indicating
that the evaluations of 1888 and
early 1889 business, upon which the
estimates were made, were too
gloomy.
Miscellaneous internal revenue
collections, which consist mostly of
excuses on liquor, tobacco, automo-
biles, gasoline and a host of other
items, amounted to $2.181, ,6o8,385 on
June 20, compared with the full year
estimate of $2,172 10000.
Social security taxes, which are
geared to the Nations pay rolls, also
passed the estimates with a June
20 total of $500, 132 sos, or about $20,-
100000 in excess of the estimates.
Customs Receipts OFF.
About the only important revenue
source which Jagged was customs
collections, which totaled $310 ,525 300
on June 20, and were about S25 ,000,-
900 short of the year estimate, with
no hope of catching up in the re-
manning 10 days.
The final expenditure total was
uncertain because of the usual rush
of Federal agencies to use up as
much of their appropriation bal
ances before the end of the fiscal
year as possible.
Meanwhile, the Federal debt,
which has climbed to successive new
records throughout the emergency
spending program in effect this fis-
cal year, reached peak of S40,365,-
074929, which was $4,000 ,3346
larger than at the beginning of the
fiscal period.
Evening star., 1939-06-22
Atlantic Terminal Co.
Seeks Bond Issue
By the Associated Press.

6t tne Associated Press.
The Atlantic Terminal Co. has
asked the Interstate Commerce
Commission for authority to issue
81 100000 Of first mortgage 4 per
cent bonds.
The company proposes to refund
81 200 900 Of outstanding bonds, to
pay $213,486 Indebtedness to its
stockholders and make additions
and improvements costing about
$l86, 500.
The 81 100000 bonds to be retired
are due August /. They include
81 100000 of first mortgage 6 per
cent, series A, bonds and 5000, 900
OF first mortgage per cent, series
B, bonds.
The company said Dick & Merle
Smith, New York investment
house, had agreed to purchase the
new issue at 100512 per cent of par
plus accrued interest.
Stockholders of the Terminal Go.
are three railroads-the Southern,
Central Of Georgia, and Atlanta and
West Point. They will guarantee
the issue
Evening star., 1939-06-22
Chinese Business
Near StandstiII
In Dollar Crisis
Moratorium Declared BY
Shanghai Bonks on
Currency Payments
3. the Associated Press,

SHANGHAI. June 22.-Chinese
banks declared a moratorium today
on Chinese currency payments, with
the result that business approached
a standstill.
1t was understood the action was
due to drop in the Chinese dollar
quotation from about 1912 cents to
1852 cents. permitted two weeks
ago by the Chinese British COM
mission which controls a s46,O00.-
900 stabilization fund, and the SUBJ
sequent heavy Withdrawals by Chi
nese merchants in order to buy
all kinds of increasingly expensive
merchandise
Situation Regarded as Serious.
Officers of Chinese banks in a
conference today were understood
to have reached the decision to
grant depositors credits of 500 Chi
nese dollars weekly, to be used in
domestic transactions. but not valid
for buying foreign exchange.
Foreign bankers described the sit
uation as serious. The demand for
the dollars because of the curtailed
supply pushed the quotation this
noon to 13 1892 cents, but bankers
believed the advance might be short
lived.
A Hong Kong dispatch yesterday
said the Chinese British Currency
Sterilization Commission, supported
by the Chinese government and
British banks, was planning cur
rency control measures. including
possibly the restriction of nom
essential imports beginning June 26.
Pessimistic View Taken.
In local and foreign banking and
commercial circles pessimistic view
was taken concerning possible de-
velopments.
At the close of the exchange mar
ket today in Shanghai-China S
main money market-the Chinese
dollar slumped to 1912 American
cents after the earlier rise. The fig
ure was almost the same as the
quotation that followed the tempo
rary withdrawal of the support of
the Chimes British control fund two
weeks ago.
Todays moratorium made impos-
sible the execution of outstanding
contracts. Importers were unable to
buy foreign exchange or even obtain
local currency to meet obligations
Employers could not obtain funds
for pay rolls.
New Regulations Expected.
Foreign bankers believed that the
Chinese government had intended
to close banks until Monday, mean
while issuing regulations for the
restricted circulation of currency,
but that the banks refused to close
because of fears the action would
precipitate financial panic.
Financiers believed the Chinese
administration at Chungking would
issue regulations next week to make
possible the conduct of vital finan-
cial transactions. but otherwise linn
iting the circulation of Chinese dol
lars as much as possible and to hold
to minimum purchases of foreign
exchange.
Evening star., 1939-06-22
Statement Welcomed.

NEW YORK, June % (P).-Wall
Street steel sources today said they
welcomed the statement of Ernest
T. Weir, president of American Iron
and Steel Institute, urging that steel
prices be maintained high enough
to show profits in operations.
While U. S. Steel Corp. declined
comment directly or indirectly,
financial sources close to Big Steel
said they thought that groups man
agements would heartily approve
any measures to stiffen prices.
They did not construe Weir's
statement as criticism of big Steel"
they said, inasmuch as their under
standing is that while U. S. Steel
has led the way with published price
lists, its effort has been in recent
months not to cut prices but merely
to acknowledge and meet competi-
tive situations, and that the Big
Steel subsidiaries would welcome
any general stiffening which would
tend to put prices in profit brackets.
Evening star., 1939-06-22
United Corp. to Issue
List of Investments
BY the Associated Press.


NEW YORK, June 22.-United
Corp. has Announced it will publish
about July l an itemized list of its
investment of about $2,500,000 in
utility common stocks of the So
called "blue chip" variety.
The company has hesitated be-
cause of the disturbed foreign situa-
ton, it was said, to invest in non-
utility equities the remainder of $8,-
100000 which the Securities & Ex-
change Commission authorized last
March for a six-months period.
The move was described as a step
in the companys plan to change its
status from that of a public utility
holding company to that of COM
bined investment, financing and un-
derwriting organization.
Officers of the company said they
were optimistic toward current do
mestic business conditions, but
thought the foreign situation war
ranted caution.
Evening star., 1939-06-22
Hidden Toxes
Funds Remain Idle
Because of Levies
BY ALFRED C. FRODEL,
Tax Attorney and Coasultant.
Article FL.


Recently, QUESTIONABLE was sent
to thousands Of investors In all parts
Of the country to determine why
their idle funds were not being in
vested in new securities.
Seventy-flve per cent Of those re-
plying said they had money to in
vest, but were unwilling to do so at
the present time.
Numerous reasons were given, but
the following were mentioned in a
majority of the replies:
Eighty-three per cent complained
that the Government takes too much
in taxes from corporations or busi-
nesses.
Seventy-seven per cent cited leg
islation restricting industry.
Seventy-three per cent feared the
possibility of new taxes on industry.
Sixty-three per cent feared the
continuation of labor troubles.
Sixty-two per cent said that the
government takes too much in taxes
from the individual taxpayers.
(Released by the Bell Syndicate, Inc.)
Evening star., 1939-06-22
Tobacco Market

An upward trend was shown for the
bulk of tobacco sold on the Southern
Maryland auction markets at Hughesville
period Of June Is 10 and 90, as COM
pared with sales of June IA and 15,- re-
ports the Bureau of Agricultural Eco
nomics. Most of the good to low qualities
of dull crop. dull and bright crop. after
several davs of irregularitv, sold at higher
average prices Tips were also higher
and seconds were generally steady. Choice
quality of both bright crop and dull crop
was slightly lower but fine quality con-
tinued steady Due to the prevailing sea
SON. the volume of offerings increased
during the past few DAYS. The tobacco
generally was of better quality than that
previously offered and in better condition
for marketing.
Average prices per 100 pounds bv ouali-
ties and approximate ranges on bulk Of
sales follow
Evening star., 1939-06-22
Production Of Electric
Power Levels Off
BY the Associated Press.

NEW YORK, June o. Electric
power production in the United
States during the week ended June
II leveled off slightly following the
preceding weeks sharp boost but
was still we'll ahead of year ago.
Latest output of 1884 $4,000 kilo-
watt hours was 3 of per cent ahead
of 2,256 1923 900 in the previous week
and 1877 per cent more than 1891 :
115,0O0 in the comparable 1888 per-
iod, the Edison Electric Institute re-
ports.
The gain was still less than sea-
sonally expected and the Associated
Press power index, based on 1929 80
as 100, declined to 1178 from 119 a
week earlier. A year ago the index,
which is adjusted for seasonal and
long term trend, stood at 1049.
Evening star., 1939-06-22
|Socony-Vocuum
Issue Placed
Ion Market
BY the Associe

NEW YORK, June 22.-Public
offering of new issue of $4,000, 900
Socony-Vacuum Oil Co. 3 per cent
debentures was made today by the
Wall Street investment firm of Salo-
mon Bros. & Hutzler as selling
agents.
Representing one of the largest
corporate f1oatations this year, the
bonds. were priced at 104, to yield
approximately PIT per cent. They
mature in 1864.
Proceeds will be applied to the
redemption in full of 10000, 900 out
standing 81 per cent debentures
due 1850.
Evening star., 1939-06-22
Time Magazines Index
On Business Declines
By the Associated Press,

Dy tIIe 1aSSUCldlEu FreSS.
NEW YORK, June o. Time
magazines index of business condi-
tlons declined last week to 92.7 from
93.6 the previous week, marking it's
second successive decline.
Continued low spending in trade
centers and a decrease in financial
spending in big cities were respon-
sible for the downward movement.
The index, which is derived from
money and banking figures, reports
not on business volume but on
changes in underlying conditions
likely to affect business activity.
Evening star., 1939-06-22
Southern Bell Co.
Plans Bond Issue
BY the Associated Press.


NEW YORK, June 22.-An issue
OF long-term bonds of Southern Bell
Telephone Co. this summer is in
contemplation, financial sources say.
While the amount. maturity and
interest rate have not been decided.
it is probable the total will be s25,-
100000, with proceeds of S16,50O, 900
going to American Telephone &
Telegraph Co., as reimbursement for
money advanced by the parent COM
pany for new construction.
Southern Bell has no publicly-he
security issue to refund. More than
1000 900 of 4 per cent notes sold
to the pension fund may also be
re-acquired, leaving a substantial
balance for new contraction.
Evening star., 1939-06-22
Boston Wool Market

BOSTON, June 90 lP-(United States
Department of Agriculture.)-Prices we're
and semi-bright areas of the Midwest to-
day. Offerings for mixed grade lots of
three-eighths and one-quarter blood bright
uuently quoted at 80 cents in the grease,
delivered to users. Offerings from Mime
sofa were quoted around % cents in the
eighths and one-auarter blood wools were
quoted at 25 to 26 cents delivered. Nom.
lnal quotations were unchanged on graded
ALMOST entire lack of interest from users
at quoted prices Users were bidding go
TO % cents. secured basis, for good French
original bags, but most holders would not
consider the bids
Evening star., 1939-06-22
Nickel Plate Deficit

CLEVELAND, June % (P.-Nickel
Plate Railroad has announced
May deficit of $41,0 ,0S6, against a
1904, 1927 deficit the preceding May
Operations of the first five months
brought a $l96,392 loss. compared
with 1862, ,l64.
Evening star., 1939-06-22
Commonwealth Elects

WILMINGTON, Del, June % LP
AT the annual meeting of stock
holders of Commonwealth & South
ern Corp, the board of directors
was elected for the ensuing year.
The board, meeting subsequently,
reelected the officers, headed by
Wendell L. Willkie, president.
Evening star., 1939-06-22

Quotations furnished by Investment
Bankers Confetence 1nc sac which states
transactions or firm bids or offers but
should indicate approximate prices and
unless otherwise indicated, are as. quoted
by the sponsors or issuers.
mot quoted by sponsors or issuers.
Evening star., 1939-06-22
Washington Exchange
SALES,

N. & w. Steamboat Cos at so.
Wash. Ry. & Elec. pfd.-2 ate115h.
Capital Traction 1st 5s-$3,OOO at
93A.
Evening star., 1939-06-22
London Bur Gold

LONDON. June 90 dPl.-Bar gold, 14ss
Sd up "a penny. Equivalent, S34. 76,)
Bar SILVER. 1eh4d up ". Equivalent. 40.56
Evening star., 1939-06-22
Rail Loadings Rise
JASPER Cent Ahead
OF Last Year
Weeks Gain Of 3,276
Cars Lifts TotuI
to 637,S73
BY the Associated Press.

BY the Associated Press.
The Association of American Rail-
roads reported today 637, 1878 cars of
revenue freight were loaded during
the week ending last Saturday.
This was an increase of 3.276 cars,
or 5 of l per cent, compared with
the preceding week; an increase of
1884, or 148 per cent, compared
with year ago. and a decrease of
ll4.914. or 1873 per cent, compared
with 1897.
The report CLASSIFIED the loadngs as
follows:
Evening star., 1939-06-22
The report CLASSIFIED the loadings as

mONClIlClllS VI NdIlUuS CldSSlllCd-
tions of freight showed diverse
trends last week as total carloadings
moved upward about the usual sea-
sonal amount.
Loadings of grain and grain prod
ucts, beginning their customary
summer pickup. increased 4,538 cars,
the largest rise for the week. Miscel-
laneous freight, forest products, coal
and coke made smaller gains.
Ore loadings. down 2.S08 cars,
showed the largest decline, while
livestock shipments and less-than-
carlot merchandise were down
slightly.
The Associated Press seasonally
adjusted weekly index, based on
l929-30 as 100, advanced to 65.7,
compared with 65.6 the previous
week. and SIT year ago.
Range of recent years:
1889. 1888. 1887 1895 1a34-35.
Low - 57.s 55.7 s2.5 66!S $50
Evening star., 1939-06-22
BONDS
PUBLIC UTILITY.
MISCELLANEOUS

MISCELLANEOUS
Chevy Chase Club lst 4hs lO4
Col Country Club 1st 4Hs lO3
Ter Ref g. VIII Corp 1st 44s 1854 -
Evening star., 1939-06-22
Investing Companies

NEW YORK. June 90 LP.-Investmen
Bankers Conference, Inc:
Evening star., 1939-09-17
AUTOMOBILES FOR SALE.

sedan; hydraulic brakes; safety siass; All
RADIO equipped; liberal trade: priced to sell
quickly; call Natl. $3.50. Hill q Tibbitts,
PLYMOUTH 1886 4-door sedan with trunk;
Government service: will give sound per-
formance and service; price $345: Warf,eld
dealer, branch, 1907 14th st. NV. Adams
5000.
PLYMOUTH 1889 4-dr. de luxe: radio
and heater, seat covers; $500 mi: $685..
hsnof msr MdnoI Motor NO Co. wash'-Balt blvd. Col
PONTIAC 1884 sedan; new tires, heater,
ine condition; $4,000. Call woodley 1927.
1s'
PONTIAC 1887 coupe; economical 6-cyl..
nsh venS Clean rfS nsGe hs
no.draft Ventilation, best overall condition;
TER nS .na ss R1 snd osls s
consin ave. Met. 0400.
PONTIAC 1888 s-cylinder 4-door touring
sedan; used BY onicial Of this company;
with new-car guarantee and service policy:
ssss ssEss' MekTs sfssd fsM ' REis s9 ssis
Wis. ave. wis. 6767.
PONTIAC 1893, g. cylinder convertible
pany; not to be distinguished from brand
new; custom built-in radio; leather up
holstery; complete new-car warranty and
service: liberal trade allowance for your
old car; greatly reduced from list price:
easiest terms. MCKEE SERVICE CENTER,
22nd and SITS. NV. Met. 040O.
PONTIAC 1899 4-door de luxe; must sell.
6213 18th st. NV.
PONTIAC 1888 coupe; black factory finish.
spotlessly clean throughout, eficient L-head
motor hydraulics knee action no-draft
ventilation, best tires: bargain price S595:
guaranteed. PARKWAY MOTORS 4O3O
wisconsin ave. Woodley 9670.
PONTIAC 1899 demonstrators in 4-door,
2-door, coupes and conv. coupes in skies
and eights. low mileage; will be sold with
new-ear guarantee and service policy;
greatly reduced in price: will give you top
allowance for your car in trade and make
terms easy. See and drive one of these
nearly new cars today ALWAYS a better
DEAL at ARCADE PONTIAC. l41S Irving
st. NV. Adams O575.
PONTIAC 1889 model l15 business coupe:
cannot be told from brand-new, equipped
with push button radio. many fne Pom
T1AC features: save considerable at this
new low price of $685.; top allowance for
your car ALWAYS a BARGAIN at AR
CADE PONTIAC, l4l9 Irving st. NV.
Adams O515
Evening star., 1939-09-17
AUTOMOBILES FOR SALE.

PACKARD 1887 5-pass: 4-door trunk Sc
tisn ths wssf ssE end a. Yoa Simply cannot nna
Sasfanty Sslas y. captci ! fsiTss1f esa.e o g.
st. NV. Natl. 5000. Open evenings.
PACKARD 1887 5.pass SPAS fst 4:dooT trunk n.aL
fsfnish spotiess Sss interior, ali good tires ara
surely Is Iemsksols yags V
Capitol Cadillac Co.. CO. 1929 asnd st. NV.
Natl. 5000. Open evenings. closed sundays.
broadcloth upholstery, motor and tires Al:
week end SPECIAL, S4e9: Community Mo
sin sGas $500. fRe'' oo2l wisconsin ave- "'scon-
PACKARD 1887 4-door trunk sedan. Gus
tom radio and heater. low mileage by orig
Ike IKE Gser foSS tires Wnade. snd esna asady Dap
Wilson s byd osy sossyn 3s se0 chestnat aaa nut bso
PACKARD 1888 100 4-dr touring sedan;
beautIful ida sEssn nsh heater equipped
sassd s4ss ,IS 5S s7e5 3 today 81 eal' Z RAcKAkD
with Motorois radio heater. defroster trpf Unit
beautiful Packard black. finish: only S515,
This car Is included in large group Of fne
u, trade-lns to be sacrificed Immediately.
w. a. Ii H. 3. SIEldssee IEARY Jr.. Z, BROS.
First and New York Ave. NJ E. Hobart 60l2.
pLYMoyTH PLY , 1sa7 cenyertele y s seYps; ,ke
Mr Roper. 173o +: I. ne II.
PLYMOUTH 1887 de luxe sedan: beautiful
car. S3s5. Terms. $50 cash, S22 month.
Mr.. Roper. 730 R. I. ne. IL
PLYMOUTH 1888 4-DooR TOURING DE
7
CO; MUST SELL Terms AND TRADE:
MR.. cALLAN, ADJUsTER, CHESTNUT
6173.
PLYMOUTH 1889 trunk sedan little
mechanically perfect, custom radio, best
BjStr,sf fSis soq 1a,o sklNKER' 1915 10th nv;
PLYMOUTH 1888 coupe. with rumble seat
radio, and heater; sood condition. $3.50
PLYMOUTH 1888 de luxe 4-door touring
sedan: large trunk, new appearance and
inside aii-steei construction, hydraulic
brakes, floating power economy best
MCKEE ff '9HT sHRE Sfsk cES4aR S4a ss sss ns s5m
o4oo' otii a." anu o'i' Wisconsin" ave- Met
PLYMOUTH 1886 de luxe coupe; all dual
eoupmen safety-steel body, very clean
dPhs dpsuics ostns power smart S'ps5 persons
car and thrifty for business use. best me-
chanical order; S335 MCKEE SERVICE
CENTER. 2snd and sts NV. and 6913
Wisconsin ave. Met 0400.
PLYMOUTH 1892 P. A. coach. repossessed
SIS cash; 4 new tires. Shep. 6104-J
or DUPONT 9s1s,
PLYMOUTH late 1886 de luxe coupe extra
good cond throughout. low mileage; pvt.
owner: S265.00. Woodley 1908
PLYMOUTH 1896. by owner, 2-door trunk
sedan. fine condition. bargain; will take
trade and terms. Dupont 1906.
PLYMOUTH 1889 de luxe 3-door trunk
sedan: radio and heater, one-owner car;
new-car a0-day guarantee: 5000 saving
to thrifty purchaser: terms and trade.
STANDARD MOTOR SALES, 1908 14th st.
NV North 229s. Open Sunday till e..
PLYMOUTH 1888 P c. model coupe; in
unusually good condition; very economical
car priced at only S145: terms. STAND
ARD MOTOR SALES. 1905 14th st. NV.
PLYMOUTHS, 1889 4-dr. touring sedans.
We have two of these popular cars. un-
usually low mileage. practically new black
or gun metal both have radios. Will be
included in large Group of fine rade-ins
to be sacrificed at once. w. A. T A.
guarantee
H B. LEARY Jr. e. BROS.
1921 14th ST. NV. Hobart 1900.