davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-10-04
i. ). Steel Remains
50 Points Below
1887 Peak
Skepticism as to How
Long Buying Will
Lost is Blamed
BY the Associated Press,

BY the Associated Press.
NEW YORK, Oct. 4.-Boardroom
kibitzers have asked some market
analysts the following puzzler:
Why should United States Steel
common be selling so points under
its 1887 peak when steel operations
have recovered almost to the high
of that year?
In 1887, before the big market
break in the autumn Of the year,
the steel industry's production rate
rose as high as 92.3 per cent of
capacity. United States Steel's
common stock few months before
production reached that level sold at
$126.50 following a five-year climb
from the 1882 low of $21.25. Yes
terday it closed at $7625, having
come down from the September war
boom top of $82.75.
This weeks steel rate is esti-
mated by the American Iron &
Steel Institute at 87.5 per cent of
capacity.
Inventories Boosted.
Most widely offered in market
circles as explanation for the dis
parity is skepticism as to how long
the heavy run of steel buying would
last. Some say much of the huge
orders for steel placed Immediately
after the outbreak of war was for
increasing inventories as insurance
against higher prices rather than
far nearby consumption. Some mills
have pushed operations to capacity
to work off these orders. Moreover,
there has been a drive to clear
order books of business in rolled
products taken at cut prices before
the war.
Hence, 1t was suggested, the steel
industry-like others which have
accumulated large orders for for
ward delivery on the war buying
may run into an air pocket on new
business when inventory demands
are filled.
Againt this argument, however,
observers are weighing solid evi-
dence that actual consumption of
steel has been increasing and may
expand further with the placing of
many orders for ships, rail equip
ment, machinery, utility plans and
armament. Most of this business
in durable goods remains on the
books as untitled orders" and so
makes future need for metal.
Neutrality Vote Awaited.
Also cited as factors in the lag
are:
/. A desire to wait for congress
Evening star., 1939-10-04
Foreign Exchange
By the Associated Press.

NEW YORK. Oct. 4.-The fast rally in
the pound sterling that got under way
late. yesterday carried Through into to-
days foreign exchange dealings.
Sterling hit S4 .O4 with rise Of y
cent in relation to the dollar. Bankers
said that while commercial demand had
expanded, at the same time there was
considerable covering by short holders who
feared the Hitler speech this week might
throw a wrench into current speculation
over peace
Evidence of underlying optimism. how
ever. was seen in drop of a full cent
in the discount on 90-day sterling. now
quoted ga cents below the spot price.
The French franc moved forward and
the. Swiss franc improved a trifle The
euilder and belga were narrowly down.
Late rates follow
Great Britain in dollars. others in cents.
Great Britain. demand. 4.03; Great Brit
ain. cables, 4.04: 60-day bills, 4.O2k; 90
day bills. 4.O1A:. Canada. Montreal in
New York. 80 S71a: Canada, New York
in Montreal, 111.25: Belgium. 1880: Den
mark 1894: Finland, 2 90: France. 2 .29h4:
Germany. unouoted. benevolent. 1875;
travel unauoted: Greece. 74l2n: Hungary.
l9.OOn Italy. 5.O5; Netherlands. 53.23;
gal. ION; Rumania. .73n: Sweden. % 80:
Switzerland. 22.4S: Argentina (officiaD.
29.77: Argentina dreel. 1850: Brazil (of-
ficiaD. 6.O5: Brazil (free). $40: Mexico,
.J.S5n: Japan. 1885: Hong Kong, $3.50:
Shanghai. 7.S0: Yugoslavia. 2.33n. Rates
in spot cables unless otherwise indicated.
Nominal.
Evening star., 1939-10-04
Mortgage Bankers Urged
To Broaden Field
BY the Associated Press.


DETROIT, Oct. 4.-Wallace w.
True of the Equitable Life Assur-
ance Society of the United States
today told members of the Mort
gage Bankers Association of Amer
lea to broaden their horizons and
seek new subjects for loans.
"Otherwise," he said, you must
continue to face shrinking profits
and smaller portfolios in the hands
Of the lenders whom you have so
ably represented in the past"
Industrial and special purpose
lending by insurance companies, he
said, "is sound and economical and
destined to take its place as a sup
plement to public financing"
Furthermore, there are many ad-
vantages to the borrower, he said.
He has but one person or group
to see in event of default. Once
his credit is established, he has a
continuing source of funds for ex-
pansion or for refinancing. He is not
required to register with the Securi-
ties and Exchange Commission with
its attendant expense, nor is he re-
quired to publish his earnings and
all OF the details of his business"
Evening star., 1939-10-04
Trust Company Votes
2 Per Cent Dividend

Directors of the Washington
Loan q Trust Co., at their monthly
meeting today, declared a quar-
terly dividend of per cent, payable
November l to stockholders of rec
ord on October %. President Harry
q. Meem announced. This is the
fourth dividend declared this year,
bringing the total to 10 per cent,
an extra payment of per cent hav-
ing been added to the distribution
made on February l.
Evening star., 1939-10-04
Wholesale Commodity Index

Lower farm product and food
prices offset increases for textiles,
fuels and building materials, and
the National Fertilizer Associations
index of wholesale commodity prices
remained unchanged last week at
1863 per cent of the 1868 average,
compared with tit a month ago
and 71.3 a year ago.
Evening star., 1939-10-04
Foreign Markets

LONDON, Oct. HP.-While the main
price line held UP pretty will, the more
speculative issues displayed soggy tenden-
cies in the stock market today Textiles
were in front with generally improved in
dustrial group. Kafirs held nrm, while the
undertone of the gilt-edged market was
steadily.
PARIS, Oct. 4 .LP,.-Bourse prices fuctu-
ated uneasily today none getting very far
from the previous close Rentes closed 40
centimes lower to higher.
AMSTERDAM. Oct. 4 P!.-Peace rumors
held the Bourse in low speed today and
prices moved unevenly. American stocks,
lower at the start closed at the days best
levels but still slightly under the previous
close.
lost to 10 points today Bombay selling
and transferring Of hedges revealed small
demand.
Evening star., 1939-10-04
Kronstodt Opens
Advertising Agency

Henry L. Kronstadt, for the past
three years account executive and
copyWriter with the Henry J.
kaufman Advertising Agency, has
just opened his own office in the
Printcraft Building.
Mr.. kranstadts previous connec-
tlons have been with L. Bamberger
q Co., Newark, N. j.; Frederick
Loeser's, Brooklyn, and Lansburgh's,
Washington.
Evening star., 1939-10-04
Egg Futures Volume
Sets New Record

By the Associated Press.
CHICAGO, Oct. All September
records for egg futures trading on
the Chicago Mercantile Exchange
were broken last month, Lloyd S.
Tenny, business manager, said yes
terday.
Swelled by war-market buying
early in the month and later by
transfer operations, volume rose to
los, 1872, 900 dozens, compared with
about 100000 year ago and
10-year average of about 10000, 900.
Butter futures also expanded, Sep
tember sales running to 88870,0
pounds, gain of more than 500 per
cent over the preceding months
1894 900, and the largest sales for
any month since September, 1880.
A careful driver ie thu hocf co Fofv "
Evening star., 1939-10-04
Scrap Iron at S24.50 a Ton.

Dow-Jones & Co. reported in
dispatch from Pittsburgh today sales
OF No. l heavy melting steel scrap
at $24.50 a ton, a new high in the
rising scrap trend and an advance
OF S1.50 over the previous sale. This
also is so cents above the highest
price reached in 1887.
No. l railroad steel scrap, a pre-
MUM grade, advanced ST ton to
price of $26, higher than it sold
in the 1887 boom.
Other grades of scrap, the fnan-
clal news agency reported, also have
been advanced in proportion over a
range of from S24 to $24.5O a ton.
Evening star., 1939-10-04
Freeport-S Sulphur Sells
Debenfures Privately
BY the Associated Press.

BY the Associated Press.
NEW YORK, Oct. 4.-For the
purpose of enlarging its working
capital, Freeport Sulphur Co. yes
terday completed arrangements for
the sale OF $3000,0O of 20-year sink
ing fund debentures to the Metro
politan Life Insurance Co. and the
Sun Life Assurance Co. of Canada at
1001a and interest. The obligations
bear 3 per cent interest.
Evening star., 1939-10-04
Otis to Head Dodge Corp.
By the Associated Press,

CHICAGO, Oct. 4.-The Chicago
Daily News says that Joseph E..
Otis, jr., president of Stewart War
ner Corp, was resigning to become
president Of the Dodge Manufac-
turing Corp, effective November l..
Dodge Manufacturing Corp, whose
plant is at Mishawaka, Ind, is a
81, $1,000 manufacturer of power
transmitting belt pulleys, shaft
bearings. shaft collars, couplings,
gearings, conveyors and elevators.
Evening star., 1939-10-04
Arizona Mine Workers
Get Wage Increase
By the Associated Press.

BY Cne ESSOclated Press.
PHOENIX, Ariz., Oct. 4.-Approxi-
mately 10000 Arizona mine and
smelter workers will receive 5 per
cent wage increases this week under
agreements with producers which
guarantee them additional money
whenever the price of copper holds
to new price level for 80 days.
Biggest group affected is the $500
workers of Phelps Dodge Corp,
which operates mines in four locali-
ties, as we'll as a smelter. The new
wage scale becomes effective for this
group Saturday.
Evening star., 1939-10-04
70 THE PoL1CYHoLDERs OF

II E PKUDEN IINL
INSURANCE COMPANY OF AMERICA
NOTICE is hereby given that meeting Of
the policyholders of THE PRUDENTIAL
will be held at the Home Office of said Com.
pany. in the City of Newark, New Jersey. on
Monday, the Fourth day of December, 1899,
At twelve O'Clock noon, for the purpose OF
selecting four persons to be voted for by the
policyholders' Trustees as members OF the
Board of Directors at the annual election Of
Directors of the Company to be held on the
Eighth day of January, 1910.
At such meeting every policyholder of the
corporation who is Of the age of twenty-one
years or upwards and whose policy has been
In force for at least one year last past shall ba
entitled to cast one vote in person or by proxy,
FRANKLIN D'OLIER. Pre5ideat
Evening star., 1939-10-04
Pig Leod at $5.35 Cwt.

NEW YORK. Oct. R.-St. Joseph
Missouri pig lead sold yesterday at .S6.36
per 100 pounds East ct. Louis, 1900 tons
at S6.55 New York. and 100 tons at the
Evening star., 1939-10-04
Washington Exchange

SALES.
Anacostia & Pot. guaranteed SIS
$1,000 at no.
AFTER CALL.
Capital Transit Colo at 1917.
Potomac Elec. Power 51aTo pfd.-
9 at 112.
Evening star., 1939-10-04
Exports Of Steel Products Gain.
RH the cSac1 tod prnr.

BY the Associated Press.
The Commerce Department re-
ports August exports of iron and
steel products increased to 185, 1872
tons worth $13,282 ,599, compared
with 1888 tons worth $12, 2,141,74
IN July and 134,1O9 tons worth
S8,802,123 in August, last year.
Canada was the major buyer on
all kinds of products, but in the
major item of tin plate purchases
Brazil was first.
Evening star., 1939-10-04
Money Market

LONDON Oct. 4 H0.-..Money; 1h-2 per
cent. Discount rates: Short bills. ga per
cent: three-month bills, 2M
Evening star., 1939-10-04
,y the Associated Press.

Quotations furnished by National Asso-
ciation of Securities Dealers, Inc. which
transactions or firm bids or offers but
should indicate approximate prices and
unless otherwise indicated, are - quoted
by the sponsors or issuers
mot quoted by SPONSORS or issueSS.
Evening star., 1939-10-04
Federal lund Banks

NEW YORK, Oct. 4 Ap.-Federal Land
Evening star., 1939-10-04
BONDS
PUBLIC Utility

MISCELLANEOUS.
Chevy Chase Club Ist 4As 1O2
Col Country Club 1st 4hs 102
Ter Ref e. VIII Corp 1st 4hs 100 -
Evening star., 1939-10-04
United States Treasury Position

By the Associated Press
year ago:
Evening star., 1939-10-04

A careful driver is the best safety
device.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19

A staff of seven translators re-
corded the broadcasts and trans
lated them.
But as fact and rumor gave way
to propaganda, the hourly moni-
toring was abandoned and the staff
placed on call to take care of
breakfasts Of special Importance.
NBC officials say these broad
casts can be picked up nearly any
where in the United States by
good sets capable Of receiving
short wave. Irregularity of broad
cast times and changes of fire.
quency (to prevent the enemy
from countering with short-wave
blackouts) offer tuning prob
lem.
Also, the stations are likely to
close down in the middle of SEN
tence without SO much as an au-
revoir. The short-wave transmit
tiers, say NBC engineers. offer a
perfect beacon" for enemy air
planes. This was given also as the
reason ships of the warning ma
tions at sea do not use their trans
mitters except in cases Of emer-
gency.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
BY JACK STINNETT
AP Feature Service Writer

NEW YORK, Sept. 19-The war
of guns is 5000 miles away but the
war of propaganda is no further
away than the dial on your short
wave receiver.
In, barrage of English. French,
Polish and German, the nations at
war are bombarding each other and
the world with all the big guns of
propaganda: claims and counter
claims, lies, charges of atrocity, fam
tastic tales of the brutality and
greed of enemy leaders.
THE barbarous Poles are hacking
out eyes and tongues and chopping
off fingers of German aviators who
PAL achute down from crippled
planesl i"The Germans bombed
a little church, seriously wounding
the priest who was saying mass!'
THE English themselves tor
pedoed the Athena to gain SYM
patty for themselves and hatred for
the Germansi" Polish aviators
bomb a plainly-marked Red Cross
hospitall'
That's just sample Of what you
might have .plucked from the air
had you listened to the powerful
stations of England and Europe as
the propaganda war got under
way.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19

Meanwhile, they can flip their
dials and get something similar to
the following translated excerpts
from Germany and Poland, where
the propagand war has been hot
test:
Germany: France delayed for
six hours getting into the war be-
cause she realized with painful
clarity that she would be fighting
for the maintenance of British i'm
perialism. <. There are SO many
Germans eager to volunteer in the
German army, recruiting officers
we're forced to refuse all applica :
items for the time being. Potential
volunteers are asked to be pa
tent.
Isn't it significant that within
six hours after Winston Churchill,
the notorious German-baiter, en-
tered the cabinet, the Athena was
sunk?" s"'s en
Poland: Germans destroyed the
relic Of the Holy Virgin in the
Catholic shrine in Czestochowa.
The sudden and unexpected
victory of the French on the west
ern front has thrown Germany
into panic. There has been
no resistance to British air-raiders,
demonstrating the Germans are
well aware of the superiority of
Allied aviation.
THE Germans are dropping Pol
ish-uniformed soldiers in parachutes
back of the Polish lines. The
Germans tried to murder the AM
erican ambassador and his family.
The Nazis are retreating in dis
order before crack Polish troops"
That's the way the propaganda
war in the air is waged.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
5L0VAk TROOPS
CROSS BORDER
INTO HUNGARY

ROME, Sept. 19.-Fascist news
papers published dispatches today
from Budapest saying that several
thousand Slovak troops had crossed
the border into Hungary with their
arms and equipment.
The dispatches added that there
was extreme unrest in the Slovak
protectorate which has been under
German military rule since early
in the war.
Foreign observers are at loss
to explain publication by the Ital-
ian newspapers Of news apparently
unfavorable to Italy's axis partner.
The only explanation they could
offer is that it either meant a
change of policy by the Italian
government or that the unfavor-
able statements about Germany
were merely being used as sub
terfuge. Ia 4 ~
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19

three years, when he was 81, he
was made chief engineer and as
sistant manager of the plant at
$3.50 a month
Encouraged by his progress thus
far, Schwab foresaW a bright fu-
ture for the steel industry and de-
cided to go along with it. He mar
ried about that time and after
establishing his home installed in
it a laboratory in which he spent
his evenings investigating III e
chemistry of iron and its compon-
ents
In 1887, the Carnegie interests
acquired control of a number Of
steel plants near Pittsburgh which
were consolidated into the Car
negie Steel Company. One unit was
the Homestead mills, which formed
an important part of the Carnegie
program of expansion. However,
labor conditions there were not
satisfactory, there existing an i'll
feeling among the men as the
aftermath of previous strikes.
Record Revealed
At Braddock Schwab had won
the good will of the men by the
kindly interest he had displayed
in them and on his record WIS
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
new GARAGE :. ).
j. HEAD NAMED


John Bourne announced today he
has assumed the managership Of
the Gastineau Garage.
Bourne, who has been with Gas
tineau Motors as Master Mechanic
for the past ten months, has made
a record of efficiency in his local
automotiye work ct
Nearly year ago when he ar
rived in Juneau, he brought with
him long and successful record
in automotive repair that includes
which time he was travelling trouble
81 years of experience, most of
which time he was trouble
shooter for the Chevrolet organiza-
uon. EN Isesssse4 r.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
CUTTER HA!DA
IS TO ENLIST
COAST GUARDS
Expansion Of Personnel by
1000 Men Including
Alaska as Well

The Coast Guard cutter Haida has
received Geographic instructions
from Washington to accept applica-
ton and effect enlistment of men
for general service in the United
States Coast Guard In accordance
with these instructions, applications
for original enlistment will be &C
cepted from men who have the fol-
lowing qualifications:
A citizen of the United States;
between the ages of Is and rs years;
of good moral character; must be in
excellent physical condition; have
necessary scholastic qualifications;
if under 81 years of age, must have
written consent of parent or guard
ian.
Reenlistment of men who have
had service in the Navy or Coast
Guard is, particularly desired, Men
whose last discharge was in the rat
ing of radiomen and under honor
able conditions may be reenlisted as
apprentice seaman and Immediately
advanced to the rating of radioman
third class. Men, whose last dis
charge from the Coast Guard was
in a petty officer rating and under
honorable conditions. may be re-
enlisted as apprentice seamen and
Immediately advanced, if from en-
gineers' ratings, to fireman, first
class.
President Roosevelt recently an
nounced that the U, S. Coast Guard
will be increased by the enlistment
of 1000 more men. AN
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
Ban on Book
9~N ~ - 4 Ek ~ 4st~
Threatening
& sa&8 s.y - "a
Legal Action


BAKERSFIELD, Cal, Sert. 10
The American Civil Liberties IN
ion threatens legal action to pre-
vent the leading novel, 'T h e
Grapes of Wrath from being
baned from Kern county libraries.
The Board of Supervisors of the
county, in which part of the action
of the book took place, banned the
novel on the grounds that it paints
a sordid and untrue picture of farm
and labor conditions in California.
Attorney. Raymond Henderson,
representing the Civil Liberties IN
ion, declared that the Board violat-
ed the Federal constitution in set
ting itself up as board of censor
ship.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19

sent to Homestead as superinten-
cent There he duplicated his sue
cess. Two years later, upon the
death of Captain Jones, Andrew
Carnegie transferred Schwab back
to Braddock as superintendent.
After the memorable strike at
Homestead in 1892 he returned TO
that plant to repair the damage
and TO rehabihtate the mill in both
man and machine power. He con
tinued in charge at Braddock and
managed both plants until 1897,
when he became president of the
Carnegie Steel Company.
1t was while he occupied the laI-
ter position that the New York
Chamber of Commerce gave a dim
ner in honor of Schwab and at
which he first suggested the for
nation of the United States Steel
Corporation He pictured a radiant
future for the American iron and
steel industry if a combination
could be formed of conflicting in
terests and thus displace the ruin
Gus competition. Years before he
had conceived the necessity for
coordination in the manufacture of
steel.
Forms Corporation
His suggestion was acted upon
by Wall Street financiers and early
in 1901 the United States Steel Cor
poration was formed Schwab, then
80 years old, was installed as the
first president. He resigned, how
ever. in 1903 and turned his at
tention toward the organization Of
the Bethlehem Steel Cooperation,
with which he had since been as
sociated.
Charles Michael Schwab was born
at Williamsburg, Pa, February 18,
1862, the son of John A. and Paul
inc F. Schwab. When he was five
years old his family moved to Lor-
etto, Pa, where the senior SchWab
kept a store. The son was educat-
ed in the village school and later
attended st. Francis Xavier Col
lege.
In 1883, Mr.. Schwab married Mis-
Emma Eurania Dinkey of Wealth
erly, Pa, daughter of the first
steel works chemist in the United
States. During his long career
Schwab never passed an opportun-
ity to speak of the great assistance
his wife had been to him and to
give her due credit for the sue
cess he achieved in business.
Discusses Money
At different times Schwab ex-
pressed these views regarding
money:
"a man with too much money
can't really give. He can sign his
name to a check and a certain
amount automatically passes from
his possession. But what he has
given means nothing to him. He
does not need it. He has sacrificed
nothing. He couldn't use it if he
had kept it,"
There is no enjoyment in great
wealth. One of the greatest happi-
nesses in life is having something
to look forward to-something just
tut of reach-something that you
are not quite able to afford"
when a man reaches the point
where he can get any of the
worlds purchaseabie things SIM
ply By writing out a check, he has
cut loose from happiness"
Il have had a lot of JOY in this
I - ~ l.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
A "REFINEMENTy

The propaganda war in the air,
radio officials say, is Just gathering
momentum. One refinement" al
ready has been reported. The Ger
mans employed an Englishman with
an oxford accent to make broad
casts to North America Spread of
this practice, with the changed fire.
quencies and announcement Of false
call signals will make it impossible
for Americans to tell to what sta
ton or what country they are listen
ing.
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
GoebbeIs ).
~ Es.&s u { .
IsPurged

AMSTERDAM, Sept. 19.-Rumors
circulated in Amsterdam today were
that German Propaganda Minister
Goebbels has been purged by the
German Secret Police and that he
had been thrown into prison.
The rumor was first based on re-
ports that his name has been care
fully left out of print since the be-
ginning Of. the war. The controlled
Nazi press has not mentioned his
name even once
The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1939-09-19
CLAIM SOLD
MINER DIES

VANCOUVER, B. c., Sept. 49,
The death of an Atlin prospector,
James Reid, is indirectly blamed on
the sale of some of his mining prop
erty.
The elderly prospector collapsed
from a heart attack and died short
ly after learning that his claim
had been sold for $4,000.
Empire Want Ads Bring Results.