davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-11-10
News Notes of the Official
And Diplomatic Sets
OF the Capital
Secretary and Mrs. Wallace
Entertaining Formers Mother;
Irish Minister to Attend Festival

The Secretary Henry Wallace have as their
guest IN their apartment Wardman
Mr. Wallace member of the cabinet Warren
Harding ~ ~
This is the first Wallace in Washington since
the arrival Of her sonnaw
ano ana Nine bruggmann the latter formerly
marriage OF the Minister place during the
arong when the the
egaon The Buggmanns Wardman Park Hotel while
hung suitable abode which they Swiss
ernmen for
The Irish Minister and Mrs go to Martnsburg w Va
where te Minister will ocae crown the king of
tne winter apple festival. They will Sunday
Inc Cecho-Soak Minister M TODAY for
eprgned Mass where he will the Spring
Held College Nine urbn and he
return Sunday r w
Mrs Hugh C. Grant wife of Minister to Albania
was ae nonor guest yesterday Edward
ooo we OF Maj Odom in her home Country Arlng-
ton, Va. ~ Ne
The First Embassy Senior eco de
oua has returned the Shoreham spending months
the Worlds ~ "'
The commanding general of the
Wallace De Witt
DR. Leland W. Parr
Dawson dean of the school University DR. Dawson
came to Washington to deliver Smith
Washington University yesterday morning
Other luncheon
Health Service DR. Thomas Paan;
Columbia DR. George c. Ruland Magee It. Col
George c. Dunham Capt William Chambers Boedorn DR.
William T. Davis Dr. George DR.
Donnal DR. George Roth Howard Kane
Dr. Errett c. Abrion Edward Chosser DR.
Wned Overholser Dr. James w. Watts
Sheppard Hornaday Reuter- Dr. Carl
Larsen DR. Alden F. Roe DR. Roscoe
Lendon Dr. Charles A. Schultz RoIo
Dr. Francis R Hagner and DR.. Hardy A. Kemp
Maj and Mrs Charles Houston Tex are at the
Martinique for several days.
Evening star., 1939-11-10
Mrs. Wood to Visit
In WASHINGTON

Mrs. Wood, widow Of the Rev. DR..
Charles Wood, for many years pas
tor of the Church of the Covenant
in Washington, will arrive Wednes-
day to spend 10 days or fortnight
at the Mayfower. Mrs. Wood has
made her home in Philadelphia
since the death of DR.. Wood and
this winter is staying at the Well
ington, on Old Rittenhouse Square.
Mrs. Wood will be joint hostess
with Mrs. Ernest Van Fossan at a
luncheon Friday, November II, in
honor of Miss Junia Culbertson.
daughter of former United States
Ambassador to Chile, and Mrs. Will
liam S. Culbertson, whose marriage
to Mr.. Thomas David Luckenbill will
take place November 10. -
Evening star., 1939-11-10
Mrs. LOWdermilk
Is Honor Guest

Mrs. Walter C. Lowdermilk, who
with DR.. Lowdermilk recently re-
turned from Is months trip
abroad, was the guest of honor at
tea yesterday given by Mrs. Hugh
Bennett, Mrs. Frederic Renner and
Mrs. Esmond Brandt. The party
was held in the home of Mrs.
Renner in Barnaby Woods.
DR.. and Mrs. Lowdermilk have
been travelling in Europe and also
visited in North Africa and Asia.
They were missionaries some years
ago in China. Mrs. Lowdermilk
having been engaged in that work
before her marriage. Since making
her home in Washington Mrs.
Lowdermilk has been an active
member of the Hamline M. E.
Church and has taken part in the
missionary work of that church.
Assisting at the tea yesterday
were Mrs. Dillon Myer, Mrs. Court
land Manifold. Mrs. Clarence Fors-
ling, Mrs. Mark Nichols, Mrs. John
Barnes, Mr.. Austin Patrick, Mrs.
Phil Campbell, Mrs. William Peel,
Mrs. Erwin Utz, Mrs Howard Mid
dleton, Mrs. Sidney Frissell, Mrs.
Robert Winston. Mrs. Walter Roth,
Mrs. George Musgrave. Mrs. Will
liam Latimer, Mrs. T. Lee CASTOR,
Mrs. Frank Hopkins, Mrs. Hubert
Breakey, Mrs. Ethan Morton, Mrs.
Richard Mclean, Mrs. Perry Land
and Mrs. Earl Kernahan,
Evening star., 1939-11-10
Woman Geographers
To Be Entertained

Mrs. Charles D. Walcott will enter
tain the Society of Woman Geo.
graphers at luncheon at the Sui
grave Club tomorrow. Miss Grace
Durham Guest will speak on The
Dioscorides Pages" which have been
recently acquired by the Freer Gal
lery, of which she is assistant di-
rector.
Among those who will attend the
luncheon are Mrs. William Chaplin
Huntington, Madam Cantacuzene.
Mrs. John Allen Davis, Mrs Mitchell
Carroll, Miss Margaret A. Hitch,
Mrs. P. T. M. Lathrop, Miss Ellen
N. LaMotte, Mrs. Harry A. Mcbride,
Miss Lois Olson, Mrs. Sophia A.
Saucerman, Miss Irene A. Wright,
Mrs. Russell LeGear, Mrs. William
M. Mann, Miss Taisia Stadnichenko.
Mrs. Lawrence Martin, Miss Isabelle
F.. Story, Miss Evelyn L. Yeomans.
Mrs. Gregg c. Birdsall, Miss Mary
A. Nourse. Mrs. Joseph H. Jones,
Mrs. Charles M. Hendley and Miss
Helen B. Smith.
Evening star., 1939-11-10
Notes From the Social Calendar Of Washington
By the Way
Beth Blaine

The and small informal sprngns up during
these pleasant autumn days like the spring
the hurried greetings must the
when the parties are large and more formal
ve affair yesterdays calendar was the
party given by Dr. Roberto Mendoza Secretary
Embassy IN honor of his Seora
Madraz who is visiting George Mason When the
guests were arrived the view from the
ttVer at Its with
Key Bridge
The popular among his guests Mr. and
Mrs snowden Fahnesock Miss Mary looking lovely
and completely recovered auoo.
bile accident Mr. and Mrs John Moore Mrs.
Lionel AtW the Misses Edith Wright daughters the
American Ambassador Mrs Butler Wright. Mrs
Noyes Lewis Mr. and
Mr. G. Tnsey Garne Mr.. Wolcott waggamann War
field and Mr. Benjamin Plunkett interesting
company.
1normaly marked the dinner last night
Harlan Fske Stone and Mrs Stone
Fosan Connecticut
guests the
tered around affairs day both here and abroad
Frances glass table
evening laid with pieces pink
roses formed the low
silver candle sticks and the gobe
TERN was copied from an Irish pattern OF English glass
Mrs van Fosan have numbers
and the toopk" cigarettes
the small cup trays
Mrs
Fon from grandmother
mgon Pa whose glassware when
thumb
started the hobby for old glass.
congenial last night at
te 1873 street Club Mrs Alice Roosevelt Longworth
were Mr. Frederick Shick of Bethlehem
McMhon Wheeler Mrs Murray Cobb
of Aiken and Lloyd
When Princess compmened beige dinner
she told that the
that dinner informal
call it dinner
bridge poker
the party lasted beyond the usual dinner hour.
Evening star., 1939-11-10
Mrs. Leila MOncure
Feted at Dinner

Mrs. Leila Carter Moncure OF
Warrenton, Va, is visiting her
daughter, Miss Dorothy Ashby Mon.
cure, at the Shoreham. Miss Mon.
cure entertained in honor of her
mother at dinner on Wednesday
evening, having as guests her BROTH
er and sister-i -in-law, Mr.. and Mrs.
j. A. Moncure, Miss Virginia Wright,
from Louisa, Va. and Mrs. Burnita
Shelton Matthews.
Evening star., 1939-11-10
Reception Planned
For Authors Club
Board Sunday

DR.. Don Adrian Recinos, the Min
lister from Guatamala, and vice
chairman of the board of governors
of the Authors of Books for Children
Club, will head the receiving line at
the reception which the organization
will give in honor of it's board of
governors Sunday afternoon at the
Kennedy-Warren from 4 until 6
o'clock.
Members of the board are: Mr..
Joseph Auslander, chairman: DR..
Paul Bartsch, Mr.. Arthur Bowie
Chrisman, DR.. Stanwood Cobb, DR..
Howard R. briggs. Mr.. Charles j.
Finger, Mr.. John M. Fletcher, Mr..
John R. Fraser, Mr.: Hertzel Good
man. Miss Ella NJ Hanft, Mr.. Eric P.
Kelly, Mrs. Elizabeth Foreman Lewis,
Miss Jessie MacBride, Mrs. Ann
Sakolsky Ross, Mr.. Archibald Rut-
ledge, Mrs. Grace Thompson Seton,
Mrs. David A. Snyder and Mrs. Ed
ward Stafford.
Alternating at the tea table will
be Mrs. Earle Clark Calhoun, Mrs.
Stanwood Cobb, Mrs. Charles E.
Cooke, Mrs. Edward Everett Gam,
Mrs. William Chaplin Huntington,
Mrs. Pennell c. Kirkbride, Mrs. ]. E.
Saugstad, Mrs. Arthur Clarendon
Smith, Mrs. Marie D. Werner and
Mrs. James Tolmie Watson, jr., who
Is now serving as president of the
District Branch of the League of
American Pen Women.
Mrs. John Gilman Bullard will
assist Mrs. Dorothy De Muth Watson,
IN whose apartments the reception
Is to be held. Guests have been asked
to bring a donation of a book for an
underprivileged child as contribu-
tion to the model library for children
which the A. B. C.s are dedicatinp
to Opportunity House, Washington's
newest social settlement.
Evening star., 1939-11-10
Mrs. Kiker to Receive
Honor at CoIIeoe

Mrs. Frances Helm Kiker, wife If
DR.. Russell P. Kiker Of Upper Marl-
boro, Nd, will be honored tomorrow
when the new athletic field at the
Maryland College for Women at
Lutherville will be dedicated and
given the name of Frances Helm
Field in recognition of Mrs. Kiker's
services to the college.
She was graduated there and
taught five years In the college be-
fore resigning.
Mrs. Kiker is q leader of Girl
Scout Troop II OF Upper Marlboro.
Evening star., 1939-11-10
D. A. r. Chapter
Marks Anniversary

E. Pluribus Unum Chapter,
Daughters of the American Revolu-
ton, celebrated its 2lst anniversary
with buffet supper last evening at
the Martha Washington Seminary.
Entertainment, with costumes, en-
titled. What Saw at the New York
Worlds Fair" was presented.
Guests of honor were Miss Lillian
Chenoweth, State regent; Mrs. Harry
c. Oberholser. State vice regent;
Mrs. Charles Carroll Haig, vice pres
ident general; Mrs. Howard L. Hodg-
kins, honorary vice president gen.
eral: Mrs. John NJ Beavers and
honorary members of the chapter,
Evening star., 1939-11-10
Doughton Honored
On 10th Birthday

Mr.. and Mrs. N. C. Hines enter
tanned at a dinner Wednesday eve
ming in their home in Arlington,
Va, in honor of Representative Rob-
ert L. Doughton, in celebration of
his 10th birthday anniversary.
Following the dinner Representa-
tive Doughton and some of his
friends heard DR.. George w. Truett
at the National Baptist Memorial
Church.
Evening star., 1939-11-10
Miss Virginia Cooney
TO Become Bride
Of Mr.. Dunphy

Mrs. Frank H. Cooney an
nounces the engagement of her
daughter. Miss Virginia Cooney,
to Mr.. Charles Henry Dunphy,
son of DR.. and Mrs. H. A. Dunphy
of Palmer, Mass. Miss Cooney's
father is the late Gov. Cooney
of Montana.
The bride-elect was graduated
from the University of Montana
and attended George Washing
ton University. She is a member
of Delta Gamma Sorority.
Mr.. Dunphy was graduated
from Massachusetts State COL
lege and from Georgetown Law
School. He is a member of Lamda
Chi Alpha Fraternity.
The wedding will take place in
January.
Evening star., 1939-11-10
Dinner to Be Given

Miss Aileen Gorgas Wrightson
will entertain at dinner Wednesday
evening in the Chevy Chase home
OF her parents, Mr.. and Mrs. Will
liam D. Wrightson, when her guest
OF honor will be Miss May Byrne
Simpson, debutante daughter of 1t
Col. and Mrs. Bethel Wood Simnson
Evening star., 1939-11-10
Guild Plans Exhibit

The Chevy Chase (Md) Chapter
of the Needlework Guild of America
will hold its annual exhibit and tea
Tuesday from to pm. at the
home Of the president, Mrs. Charles
B. Lingamfelter. Among officers
this year are Mrs Earle H. Clapp,
honorary president; Mrs. Edwin c.
Guthrie, vice president; Mrs. Her
man V. Miller, treasurer, and Mrs.
George w. Kelly, jr., secretary.
Evening star., 1939-11-10
Mrs. Elkins Giving
Fete for Miss Hines

Mrs. Kenna Elkins is entertain.
ing a group of young people at
cocktails this afternoon for Miss
Marilynn Hines. debutante daugh-
ter of former Representative and
Mrs. Joseph H. Hines.
Evening star., 1939-11-10
Return to Capital

Mr.. and Mrs. James Farmer have
closed their place in the country
Lakeland, in Lakeville, Conn, ano
returned to the Mayf1ower for tho
season. Mrs. Farmers mother, Mrc
Douglas P. Birnie, returned to the
hotel earlier in the month from
Connecticut.
Evening star., 1939-11-10
Rabbi Metz to Speak

Rabbi Solomon Metz will speak
on Prophecy" at the Hadassah In
stitute Monday at 2 pm. at the
Jewish Community Center. Mrs.
A. Shalowitz. education chairman of
the Washington Chapter of Hadas-
sab, will preside at the lecture,
which Is open to the public.
Evening star., 1939-11-10
Kellers Give Dinner

Mr.. and Mrs. Paul D. Keller were
hosts at dinner last night at the
Shoreham in honor of Miss Mary
Benton Robinson and their son, Mr..
Robert F. Keller, whose marriage
will take place tomorrow.
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
QUESTIONS TO TEST
YOUR KNOWLEDGE

Can you answer seven OF these
test questions Turn to the
woman's page for the answers.
/. In which state are the
Carlsbad caverns7
?. Who was the first woman
TO receive the Distinguished
Flying cross >
3. Name the colors in the flag
of Fire (Irish Free State).
4, In what year did Lief
Ericsson discover Newfoundland q?
5. What is the correct pronun-
citation of the word gondola?
6. Where is the isle Of Pat
mos?
I. Where is the original copy
Of the Declaration of Inde-
pendenee
s. Which of the twelve apos-
ties betrayed Jesus?
8. Which English queen had
IL children?
10. Name the British ambas-
sador TO the U. S.
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22

Wh<n ths T~snssesh C<nisry Fsnd r~rsnsly made a
Study - TIE high ees ~ disfriusson mary f<ns sseed
tnrine6 a1ous doahs The They shosA ,ha, Il
Costs more h Distribute nos sos thar does produce
HAxw
Chicago mia company fec~nsls raised milk prices 10
80 onaaenef. ard pnb<bad IN Justification breakdown
81 cuxA 1h1a indirnsed thai az the consumers milk
~ farmer WHO prpdnced The milk got onl s7s csna
kmracyss ~ The milk company got e. And the
nAindsr ssnt Tor plant and squpmsnt bottles. supplies
tnxes railroads ard trucks One advertising
and eus than hn~nf for offcers saarss And the com
pany wAs aasnw nsariy Two cents quart IL claimed
No ciesrr example could have come along TO prove
~ arxumsut that distribution has somehow abb
enb The ons shAss Of the high prices the payn
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22

SATURDAY. SEPTEMBER n

On this day Of the suns entry
into Libra. The beginning Of tho
autumn quarter, Jupiter Ia IN
the tenth house In sextils TO tho
Neon. The position Of Jupiter
seems 90 b. promising In regard
"a eventual peace agreements.
Mixed aspects are seen In to-
days horoscope with beneflc In
fiuenoes slightly dominant.
Heart and Home: Late In the
afternoon women benefit today.
II IL fortunate for love affairs
that are well started. II Is a
lucky day for shopping. especi-
ally for clothes. furniture. art
objects and lewelry. The eve
ming IL suspicious for social
events.
Business Affairs; Members
OF congress viii be criticized for
legislation affecting the small
merchant and others who have
little capital for commercial
projects. While this should be
a profitable day for many in
dustries. there may be difficulty
In obtaining loans from banks.
Agitation regarding the finan-
cisl policies of the federal gov
eminent will be widespread and
perhaps embarrassing in inter
national relations.
National Issues. Jupiter ris-
ing in Washington, d. c. Is read
as indicating increase Of pros
penty and power for the ma
ton. Conservative Democrats
will attempt TO assert them
selves, but the stars seem to
presage little Roadway in oppos-
ing the administration. Secret
plans will be developed by lead
ers Of both political parties who
are to have surprises in cam
paign evolution.
International Affairs: Jupiter
eliminating in Warsaw Is be-
lieved to be favorable to the re-
vival OF Poland's fortunes. Sat-
urn Is in an aspect presaging
for Russia severe economic de-
PRECISION. Rio de Janeiro comes
under a sway foreshadowing a
sudden revolutionary outbreak.
Egypt and Palestine will be dis
turbed by conflicts that do not
make immediate decisive pro-
gress.
Persons whose birthdate II Is
have the augury of a year OF
progress in business or profess
sional careers. Gain through a
law suit or speculative enter
prise is presaged for a few.
Children born on this day
probably will be gifted with
artistic talents. Many OF these
Libra subjects become success
sul xnuaicians or writers,
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
MORE TABAsCo FOR
TOBACCO ROAD

Editor. The Times; Truly, a
prophet is not accepted in his
own country. Cheer up, Tacoma
board o. censors. and read the
editorial IN recent Seattle
paper for your qualification az
a good conscience Is not suffi-
cient recompensel.
"No one who has seen Tobacco
Road viii deny that the Tacoma
board OF eensors was right in
trying TO prevent It's showing in
their city"
There Is more OF a common
datory nature. A big vote OF
thanks is due b the board OF
censors who spared US as much
as they could of an unjustifi-
ably and unnecessarily ugly
play.
Tacoma viii not be laughed at
by serious thinkers for daring,
in spite OF the ridicule Of would
be sophisticates, to condemn the
unpurged Tobacco Road.
MRS. o. c. HAFSOS.
President, Philomsthea club.
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22

svpn11tAa1 faT hw~ssTT i6ssxvve6 has - eae
penstz<s Asntfsnx f2As ~ Taeeaa peWfas wad
mseh f1Iasf ~ = 7~esn< nets skxn los Aaxss~s
80 ~ mneA <ssmsas~1 *sdesf s2sssxfs
Hssx ~ hsmN k~*s aur ~srr 6sys ~ss wss Asss
- ast " ~ tsn< sles6s 49, nThly
soaffm" 1r@ w~ssA~
NHh epnsesaeAl n1 r.ns xear sks asmsasf&ssw Ard
eMNssf xa~4ss snd sAshssns hFs<ss eff sks
- - frsm ths T&es nAg sa&ss e hsans
esn@It1s~ed city
1ermma ssd ~ envssuas ~gl n.sy srYsexAaas shs
esaf ~ 6asfAnns th<y o. shs zsssg 81 skf that
ee<erpAse - frum ~ nnansxsx temperature. 81 s A.
GM<~ 60 ~ Fsastznx s1hsshs Il ~ sfiA nArxhsd
ea< - fb<ss shtf msss s ~ laugh Ell TIE bssxfing
hset ~ ~@nssaAl ~sssh<r~
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
Fourth Horsemsn

THO Of thu -Four Horsemsn Of the Apocalypse already
riding Eurpps War and DEATH This third Famine
moi Ia tho saddle but the omnous food cards that
appearing In Germany and ether places show that he
restless 10 ride
And the fourth ID certain 10 follow No less an authority
than Dr. Thomas NJ Rivers president OF the international
Congress Of Mcrobiology has stated that widespread
influenza epidemic almost certain follow general
Pe<enc< rode roushshod America in 1918 in the
form Of the deadly influenza War in Europe unleashed
him then and in Europe viii unleash him again
the doctor Only little progress has been made in pro-
vidnE specific since the death Of 1918 found
physicians almost helpless.
This, TOO. the Statesmen Of Europe have unclaimed
upon the world.
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
POWER OF PEOPLE
IN WAR QUESTION

Editor. The Times: Your edi-
torial urging the peoples right
TO decide whether We shall aban-
don our present neutrality law
for one which will supply France
and Britain with the merchan-
disc Of murder, is incontroversi-
BILE save by the fascist argument
that the people lack intelligence
TO decude such an issue.
But the Roosevelt administra-
ton defeated the Ludlow act and
every other attempt to give the
people power over the issue OF
war. or steps leading to it: and
there can therefore be no for
mutation of the common and
determined purpose" of which
you write.
II is up to the individual hater
OF war to act as an individual
or within a chosen group-to
oppose re presidents proposal
and every other Ear move and
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
AMERICA PAYS HUGE
BILL. foR LIQUOR

Editor. The Times: John Q.
Public has spent more money
fer liquor since repeal than he
has for government relief. Nv
neat January his tippllngs will
have coat hun S25. a84. 5oa. Oo2
topping his relief costs by 10
billions and coming within Is
billions Of squaling the 4o-hiliion
national debt
Total gross direct and indi-
rect costs OF John Q. Puhlic's
liquor will equal the national
debt BY the first Of next year.
These costs reached $50. o64 .50a.-
os2 ON Jan. l. 1888. while the
cash registers OF the nations
brewerles and taverns had TIM
Killed. TO the tune of SO. 500. 5oe,-
oo2 net.
A dlsmayed John Q. Public
finds slight consolation on the
credit side OF the ledger. In
cluded in the gross costs Of the
bottled spirits and beer from
1888 to 1889 are public reve-
nues totsling S&.40s. 765. $50. Tho
liquor industry paid John Q.
Public an estimated five billion
dollars in wages. 400. ooo. 900
for raw materials. and half a
billion for transportation costs
and miscellaneous: total re-
turn OF $4,000. 600, 900.
As for volume. Americans
consumed s.975.l4T.e47 gallons
Of distilled spirits and beer. do
mestic and imported, during the
first five years and nine months
after repeal. With John Q's
Illicit purchases estimated at 10
per cent of his legal patronage,
total alcoholic beverage con-
sumption is placed at 10 billion
gallons.
In addition TO swelling the
liquor industry's Golfers, John
Q. Public is contributing heav-
ily to the l5-billion-dollar annual
crime bill each time he buys
drink. Since the years Of costly
government participation closely
follows John Q's indulgence in
alcohol consumption, might it
not be logical to conclude that
less liquor would mean less de-
mand for relief?
MRS. REGIME BENNETT.
5000 So. Yakima ave.
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
BRIGHT MOMENTS
IN GREAT LIVES

One of the greatest tributes
ever paid to a war general was
given to Britain's Sir Douglas
Haig following the world war,
when the French termed him
"the perfect ally" Humble and
accomplishing, yet fierce in an
armed engagement Haig never
declined to carry through an
order, no matter how disastrous
it may be. He was shifted from
British TO French supervision
without complaint. His troops
were given much of the dirty
work, plugging gaps in the
French lines. He was blamed
Sor setbackx over which be had
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22

finally, even within the war. To
oppose the war itself 10 the last
bitter moment. For no man nor
group Of men has right 10
decree the lo~a Of our liberties.
TO doom millions 10 death and
suffcrangs indescr1bable. the
thing is monstrous and criminal
beyond words.
ROBERT J. pEARSALL,
s7tb SO. Park ave.
The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-09-22
Continued From Page one)


fluence on congress in its current
consideration of neutrality reyi-
sion. Hitler Is obviously striving
for a knockout on the battlefield
In an attempt to block American
reinforcement OF the Allies
through repeal Of the arms en-
barge act. In the last analysis
our congress may determine the
outcome or peace.
II Is almost a two-to-one bet
that congress will not accede 10
the White House wishes II Hitler
and Russia - have partitioned
Poland before a final vote. De-
fiance OF the president Is certain
II. In the interim. London and
Paris have eapitulated again to
Der Fuehrer. Therefore. should
Hitler make peace offer, II is
probable that the allies will bag
gle and stall until they discover
what congress will do. But the
congressional chess players will
likewise fihbuster until they
learn what Chamberlain and
Daladier viii do to or for Hitler.
Place no bets on the result. II
may flare into the most desper-
ate and historic tug-of-war in
world annals. But be prepared
for an abrupt cessation OF fight
ting-another wishful peace-or
a fight-to-the-finish. Resrrange
your business plans so that they
can be changed without notice"
November 1, possibly October Is,
should tell.
The state of the government
bond market has given grey
hairs to banking experts on the
federal reserve board. Though
they won't admit it publicly, the
war crisis has exposed vital fall
lacies in the administration
financial policy OF loading up the
banks with iow-interest federal
securities.
The prospect OF war naturally
produced a terrific slump in the
prices of government bonds. That
advantaged individual purchas-
ers, for the deprecated price gave
them a higher yield. But it al
most proved fatal to several
thousand small banks whose
portfolios are loaded with Secre-
tsry Morgenthau's issues. It
lowered their reserves and the
value Of their capital stock.
Should the government bond mar
ket sink ten points lower, many
banking institutions will face a
crisis-unless the federal reserve,
controller and FDIC permit them
again to evaluate their govern
ment holdings at an artificial
figure.
Ironically, it has been their
holdings of private securities
rails and industrials-which have
temporarily enabled banks to sur
vive the crisis. The danger gave
a start to certain long-headed
federal financiers, and it may
force them to revise their fiscal
policies-if that is possible at
this late date.