davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-05-26
Excess Bank Reserves
Gain 50 Millions,
SET New Record
Spending. Gold Buying
And Circulation Drop
Cited by Report
BY the Associated Press.

by lnt ASSOCldleQ fTSSS.
The Federal Reserve Board said
lendable excess reserves of the banks
increased S60,000,000 to new record
high total of S4300,000, 900 in the
week ended May "a.
The increase was due to Treasury
spending and purchases of gold and
to decrease of money in circulation.
The boards statement said:
During the week ended May "a
member bank reserve balances in
creased $4,000 900. Additions to
member bank reserves arose from
decrease of S20,00000 in money in
circulation, s37 100000 in Treasury
cash and $4,000 600 in Treasury de-
posits with Federal Reserve banks.
and increases of S35 ZOO. 900 in gold
stock and $4,000, 900 in Treasury cur
rency, offset in part by an increase
of $l4,000,000 in non-member de-
posits and other Federal Reserve &C
counts. Excess reserves of member
banks on May "a were estimated to
be approximately $4,000 900, 900, an
increase of $4,000 900 for the week"
Changes in member bank reserve
balances and related items during
the week and the year ended May
"a, 1889, were reported as follows:
TN millions of dollsrs)
May "a, May i, May 25.
Evening star., 1939-05-26
Hurbison-WuIker Chief
Dies at PITTSBURGH
BY the Associated Press.

Ry The Associated Press.
PITTSBURGH, May 26.-James
E, Lewis, chairman of the Board of
Directors of the Harbison-W Walker
his home in suburban Aspinwall. He
his home in suurban AspinWall. He
retired month ago as president
of the company, and Raymond Will
ley, former vice president, was
named to succeed him.
Evening star., 1939-05-26
Financing Operations
For New Money
Expected Soon
Underwriters Cheered
By Pickup in Stock
And Bond Markets
BY the Associated Press.

oJ tbC AoooCidbcu FTtoh,
NEW YORK, May 26.-If the
pickup of the last few days in
the stock and bond markets con-
tinues underwriters look for a fair
amount of new money" financing
in both fields soon, some Wall Street
observers said today.
They asserted that despite the
apparent reluctance of business to
expand. there are a number of
concerns with plans for increased
production under consideration who
have been deferred from entering
the money market because of the
uncertainties in Europe and the
long-term outlook at home. Some
Of them now are ready to go ahead,
it was declared, if the necessary
capital can be raised.
While the strictly highest grade,
low yield bonds have mounted to
the best price levels since February,
1887, secondary, or higher yield loans
have been attracting broader in
vestment attention recently, indi-
eating a demand for this type of
security. Some underwriters be-
lieve, therefore, new money" fl
nancing in this division, with yields
on the investment running to say
to AZ per cent, might meet with
favor.
Convertibles Favored.
To provide a possibility of get
ting investors into partnership
through the ownership of common
stock, it has been suggested that
such bonds be made convertible at
some attractive figure which might
tempt risk" capital from its md
ing places.
Possibility of common stock. or
equity financing appears further of,
investment men say, but neverthe-
less number of such issues are
being talked over.
A few of the plans involve stock to
be listed on local exchanges through
out the country, with distribution in
tended in the territory in which the
companies work and are we'll known.
Dealers sounded out in advance were
said to nave been hopeful of sue
cess provided the stock market con-
inues along line indicating bull"
tendency.
See Deficiency.
A good many in Wall Stret think
that the failure of industry to
finance itself with new capital goes
far to explain the unsatisfactory bus
lness conditions of recent years.
An economist and analyst, John H.
Lewis, has computed the Shrinkage
OF corporate and municipal new
money financing from 1929 through
1888 at approximately s7,70O, 900 900.
He points out that from 1882 to 1888
the recovery was only 10 per cent of
the ground lost between 1929 and
1882, with the shrinkage heavy in
the railroad, utilities, land and
building and industrial manufactur-
ing fields
Corporate financing in 1929 was
placed at S8,012 900, 900, compared
with 1925 100000 in 1882 and 1854
600, 1000 last year. In the first four
months of 1889 the record was a
little better, running to s159,o00 900
against sl23 900, 900 in the like period
of 1898.
Evening star., 1939-05-26
Boston Wool Market

BOSTON, May % lP Omitted States
the demand in the Boston wool market
today continued to be for fine territory
and Texas wools in original bags.
However, manufacturers were showing
some interest in graded three-eights blood
combing territory wools at prices, $500
cents. secured basis and graded one
fourth blood combing territory woods at
54-56 cents, secured basis.
Evening star., 1939-05-26
GHdden Earns
S366,147 Profit
| In Six Months
f.y the Associated Press.

Nv fhe Associated Press.
CLEVELAND, May 26.-The Gid
den Co., paint makers, reported to-
day S366,147 net profit for the six
months ended April 30, compared
with $12,570 profit the six months
ended April 30, 1888. Gliddens fiscal
year ended October 81.
Net sales for the latest siX-month
period were s21,061, 1893, compared
with $2l,023,074.
Evening star., 1939-05-26
300 Tons of Leud Sold

NEW YORK, May 26 tP.-St.
Joseph Lead Co. reported so tons
of Southeast Missouri pig lead sold
yesterday at $3.50 per 100 pounds.
East st. Louis, $50 tons at $3.50
New York, and 100 tons at the New
York average.
Evening star., 1939-05-26
Metal Market

steady; electrolytic spot. 10.00-10.5 80:
export, 1909. Tin steady; spot and nearby.
49. 10: forward. 4s.75. Lead steady; spot,
New York, 475-Se: East st. Louis. 4:60.
Zinc steady; East St Louis. spot and for
ward. 4.50. Pig iron. aluminium: anti
mony. quicksilver, platinum ana Chinese
wolframite UNCHANGED.
Evening star., 1939-05-26

Quotations furnished by Investment
do not necessarily reflect actual trans
actions or hrm bids or offers, but should
indicate approximate prices, and unless
otherwise indicated. are as quoted hy the
sponsors or issuers
sNot quoted By SPONSORS or issuers.
Evening star., 1939-05-26
Federal Lund Banks
Rubber Futures

NEW YORK. May 26 dPi.-Crude rub
Der futures opened to 10 higher Nav
l6.2Ob; July, 16.33b: September. 16.4lb.
b Bid.
Evening star., 1939-05-26
London Bar Gold

- LONDON, May 26 Qp-Bsr gold, 14ss
$40, UNCHANGED Equivalent S34.75D
Bar silver, GOD, unchanged. Equivalent
42.14 eents)
Evening star., 1939-05-26
Dividends Announced

NEW YORK May 26.-Dividends de-
clared-prepared by Fitch Publishing Co.:
Interim.
Cluett Peabody & Co25c 6-l5 6-26
Natl Oil Pdts Co25c 500 $50
Remington Rand o0c 6-5 II
Evening star., 1939-05-26
Other Reports Listed.
Among other roads reporting net
operating income for April were:
Member Balances Climb
Further at New York

By the Associated Press
NEW YORK, May 26.-Member
reserve balances recorded another
gain of around S87,00O,O00, the
weekly condition statement of the
New York Federal Reserve Bank
disclosed.
The general account of the
United States Treasurer rose to
S236,755 900 from $215,845 900 in the
preceding week Federal Reserve
notes in actual circulation showed
small decline.
The condensed statement follows:
Gold certificates on hand and
due from U. S. Treasury S6.415,549. 900
Total reserves 6,5l7. .3O2 900
Evening star., 1939-05-26
Investing Companies

NEW YORK. May 26 (P.-Investment
Bankers Conference, Inc:
Evening star., 1939-05-26

so fer this year, ePsid last year
Quotations furnished by Investment
Bankers Conference Inc, which states
they do not necessarily reflect actual
transactions or firm bids or offers but
should Indicate approximate prices.
Evening star., 1939-05-26
U. S. Treasury Notes

NEW YORK, May % (P.-Prices quoted
in dollars and thirty-seconds:
Evening star., 1939-05-26

New York Bar Silver
NEW YORK, May 26 R.-Bar
silver, 42X, unchanged.
Evening star., 1939-05-26
Insurance Stocks

NEW YORK May % tP.-Investmen
Bankers Conference. Inc
Imperial Valley press., 1939-06-20
l. A. Lumber Strike
ToCrippIe Boom
In Coast BuiIdinq

LOS ANGELES, June 90. (UP)
Hope of averting a widespread
strike in the lumber industry vir-
tually was abandoned today as
1000 union lumber and saWmill
workers prepared to walk out un-
less their wage-hour demands were
met by employers.
Following collapse of negotiations
between employers and union off
cials yesterday, the entire mem
bership of Los Angeles, Glendale
and Pasadena locals were ordered
TO quit work at midnight. Nearly
1900 members of the Lumber and
SaWmill Workers union and the
Operative Engineers union, both of
A. F.. of L. affiliation, struck at
the Los Angeles harbor Saturday.
Should union members comply
with the strike order, employer rep
resentatives said the shutdown
would seriously undermine Los An
geles countys current building
boom. They said more than 10C
lumber establishments would be
forced to close, crippling one OF
the nations leading building CEN
ters. Building permits totaling
nearly $4,OO0OO0 we're issued in the
county last month.
The unions asked a reduction of
the work week from a. hours to
40 with no reduction in pay.
Imperial Valley press., 1939-06-20
Veterans Request
Defense Increase

HOLLYWOOD, June 20. CUP)-
Resolutions and nomination of Of
ficers were the chief items of busi-
ness before the 18th annual con-
Vention Of the Veterans of Foreign
Wars today.
Resolutions to be presented at
the afternoon session were said to
urge increased defense precautions
to maintain peace and a determined
educational program to promote
patriotism. Highlights of the days
program were the statewide drum
and bugle corps competition and
the annual parade along Hollywood
boulevard tonight.
National Commander Eugene I.
Van Antwerp of Detroit spoke at
the annual banquet last night, out
lining g congressional legislation
sponsored by the VFW and design
ed to take the profits out of war.
Imperial Valley press., 1939-06-20

likely to persuade Mr.. Roosevelt
to run again than TO surrender TO
the conservative wing of the party
which has combined with Repub-
licans in congress to vote the New
Deal down.
The House hit the administration
where it hurt last week when it
passed relief bill to curtail presi-
Dental authority and abandon
some pet New Deal undertakings.
Mr.. Roosevelt will have to ac-
knowledge. personal defeat today
when the House passes the 1899
revenue act to eliminate socalled
business irritant" taxes. The bill
has the blessing Of the presidents
official fiscal advisers. But it sacri-
fices the theory of penalty taxes
on undistributed corporation sur
plus funds and, therefore, is Of
fensiye to the president and the
inmost circle of the New Deal. In
the offing is a senate battle over
neutrality in which the odds are
slightly against the administration
in its effort to obtain more discre-
ton in making national resources
available to belligerents.
All these factors-and the partial
reverse suffered by the admins
tration in last Novmber'S general
Imperial Valley press., 1939-06-20

three acts form the 'cnarJer OF III
dustrial and economic democracy
for the wage earners of the ma
ton" and protect the country
against "m9ss poverty, sweat shop
hours and industrial war
He charged that lobbyists are
seeking "by flank attacks to chop
these laws to pieces
He estimated that more than 250,-
900 workers would be excluded from
the benefits of the social security
act under an amendment which
has passed the house; that more
than 100000 would be robbed
of the protection of the Wage-hour
law by ripper amendments now
before the house, and that 100000
employees are threatened with lin
dustrial disfranchisement' by pro-
posed amendments to the labor act.
He charged that through Ivan
c. Mcdaniel, Los Angeles attorney
now stationed here, the committee
has succeeded in blocking admin
stratiOn sponsored amendments to
the Wage-hOur law because they
contain no exemptions for canning
and packing workers employed by
fruit and vegetable producers who
are members of the Associated
Imperial Valley press., 1939-06-20
Talk Tournament
In Second Day

BEVERLY HILLS, Cal, June 20.
UP)-The National Forensic tour
nament today swung into its sec
ond day of speech making and
defamation with 1865 contestants
from 80 states represented in the
completion in eight divisions for
which national champions will be
selected.
In addition to the speech con-
tests, the delegates are holding a
model legislative assembly pattern
ed after the congress of the United
States.
Results of the first days COM
petition were not announced i'm
mediately by the league but will
be disclosed later in the week. The
tournament ends Friday.
Imperial Valley press., 1939-06-20

The child Charley Ross was car
ried away from his home at Ger
mantown, Pa, July l, 1874, along
with his brother, Walter, two years
older than he, by two men in a
buggy. The new Charley Ross is
going back by airplane.
With him will be his wife. They
have lived in Chicago and here as
Mr.. and Mrs. Gustave Blair, but
back in Germantown they are 60
ing to be remarked and live as
Mr.. and Mrs. Ross. The wedding
will be July /, the 65th anniversary
of the kidnapping that was one of
the most absorbing mysteries of
the 10Th century in America.
Other sons and daughters of the
late Christian K. Ross, Charley's
father, have refused to recognize
his claims, but they did not con-
test his suit to establish his name.
Before coming here four years
ago, the carpenter had tried in
vain to get Chicago courts to de-
clare him Charley Ross. Here, a
jury made the decision and Judge
c.. A. Rodgers commented: "The
proof As convincing enough, at
least alone"
His attorneys said that a trust
fund of $4600OO was left by Chris
tian Ross and that a suit seeking
one-fourth of the estate, will be
filed against Walter. Sophie, Chris
tina and Marion Ross, other chill
dren of the family.
When he went into court here
Ross carried a mass of records and
newspaper clippings that he had
spent years collecting. He said he
remembered the kidnapping ano
Imperial Valley press., 1939-06-20
Film Workers Ask
Federal Reversal

HOLLYWOOD, June 20. up
Creative workers in the film in
duStry, including actors writer's and
directors, today urged congress TO
CANT stay Of execution" in the
contemplated closing of the federal
theater project here June 30.
Pointing out that the order would
throW 1920 actors and actresses out
of work, special advisory commit
tee of the film industry asked that
an extension be granted until Aug
81 as was being done with other
allied federal projects.
The telegram to senate sub
committee on appropriations said
that if the project was continued
for go days, the film industry felt
it could raise a fund to cover non
labor items.
Imperial Valley press., 1939-06-20
Cleaning WaIkout
Ended on Coast

LOS ANGELES, June 20. UP)-
Six hundred employees of 80 major
cleaning and dyeing plants expect
ed to be back on their jobs tomor-
row as union officials announced
that the short-lived strike virtually
was at an end
P. j. Mccarthy, business agent
for the Amalgamated Clothing
Workers, an affiliate of the Con-
greSs of Industrial Organizations,
said workers had returned TO their
jobs at II of the plants and that
at least 10 more plants would be
added TO the list today.
Employers were reported signing
new agreements providing for a
44-hour week, without pay rcduc-
lions.
Imperial Valley press., 1939-06-20
Propositions for
Ballot Passed On

SACRAMENTO, June 20. (UP)-
Three propositions for the 1910 bal
lot we're sent by the legislature to
the secretary of state today. They
passed the assembly last night.
BY senator Ed Fletcher, r., San
Diego, to permit leasing park lands
for oil and gas exploitation.
BY Senator John Phillips, r.,
Banning, to allow the legislature
to overhaul state penal administra-
ton machinery.
BY Senator Ray Hays, r., Fresno,
to exempt from local taxation all
ships over so tons.
Imperial Valley press., 1939-06-20

election -beckon Mr. Roosevelt 10
battle and belief is spreading that
ne will run again next year. a
major factor in that belief is The
absolute dearth of an acceptable
substitute New Deal candidate
whom Mr.. Roosevelt could nomi-
nate and support with confidence
that his policies would be contin-
ued.
Nomination of Vice President
John N. Garner would be triumph
of the anti-New Deal Democrats
who have rallied around him AZ
the symbol of opposition to major
Roosevelt policies. Secretary or
State Cordell Hull is being discussed
here as the most likely compromise
candidate. a man who would have
the confidence of traditional party
men and yet near enough to tho
Roosevelt administration to expect
substantial New Deal support.
Imperial Valley press., 1939-06-20
Federal Men TO
inspect DRAINAGE

Imperial Valley drainage activi-
ties will have federal inspection
Wednesday when S. H. Hastings
U. S. Department of Agriculture
agronomist, and F.. G. Noble OF
the Bard experimental farm, make
a tour with Farm Advisor Frank
BeySchlag.
Hastings and Noble will inspect
private drainage problems. such as
that of l.. F.. Sinclair of Calipatria.
and discuss saline problems.
Imperial Valley press., 1939-06-20
MOTHER OF VALLEY
MEN DIES SUDDENLY

Mrs. w. j. Murray, mother of
w. C. Murray of Holtville and of
the late Preston A. Murray of Ell
Centre, died of a heart attack in
Ell Reno, Okla, Tuesday morning.
Members of the family have not
decided whether they will go east
for the funeral or not.
Imperial Valley press., 1939-06-20
ACTRESS ASKS SENATOR
TO CONDUCT FILIBUSTER

WASHINGTON, June 20. (UP)-
Glamorous Tallulah Bankhead, act
ress daughter of Speaker William
B. Bankhead, today hugged Uncle
John" Bankhead, senator from
Alabama, and begged him to fill
buster against the relief bill unless
the federal theatre project is re-
vived.
Imperial Valley press., 1939-06-20
Cigarettes Choose
P0st-Press First

A new newspaper advertising
campaign which will concentrate
on major California markets will
start first in the Imperial Valley
Press and the Morning Post, Aitkin
Kynette co. announced Tuesday.
The Press and The Post will be
the first papers to carry Marvel
cigarette ads in California.
The campaign will start June 26
and continue to Sept. 16.
Imperial Valley press., 1939-06-20
Pilot Claims New
Glider Record

PALM SPRINGS, Cal, June 90.
(UP)-Capt. Peter Riedel, famous
German glider expert, today claim.
ed new American record of 12,300
feet above sea level.
Making a flight of five and a half
hours yesterday, Capt Riedel set
the new record by soaring over the
San Jacinto mountains after being
toWed to a takeoff by an automo-
bile. The former record of $500
feet was held by Richard c. Dupont.
Imperial Valley press., 1939-06-20
Nebraskan TO Put
Up Big PowerLine

PHOENIX, June 20. CUP)-The
Dwight Chaplin, jr., company of Lin
coin. Neb.. received the contract
today for construction of power
lines from Parker dam to Phoenix
and from Parker dam to Blaisdell,
east of Yuma
The award was announced by the
Washington office of the U. S. Bu-
reau of Reclamation. E. C. Koppen,
resident engineer, said the company
would post labor and equipment
bonds and start the work as soon
as possible to bring Colorado river
power into Arizona.
Imperial Valley press., 1939-06-20
Morals Defendant
Gets Prison Term

Robert l.. Tiller, SRA relief recip-
lent, pleaded guilty in superior court
Monday to a charge of incest and
was sentenced to San Quentin pen
itentiary from l to so years.
He was placed under $4,000 bail
at the time he was arraigned in
Brawley justice court on the morals
charge
Imperial Valley press., 1939-06-20
TRAFFIC VICTIM DIES

LOS ANGELES, june 20. tUP)-
Sidney G Parshall, As, former
South Pasadena councilman and
American Legion commander, died
today in the Huntington Memorial
hospital, Pasadena, of a skull frac-
ture received early Sunday in a
traffic crash.
Imperial Valley press., 1939-06-20

Farmers of California.
The Associated Farmers, he
charged, is a "labor- busting outfit
of the west coast, which is largely
financed by the chamber of COM
merce of California, big public
utility interests and employers op-
posed to organized labor"
THE Associated Farmers have a
long record of trying to solve their
labor troubles by violence" An
drews asserted. ut is matter of
notorious record that they have
suppressed free speech, free press,
the right reaceably to assemble,
the right TO petition-just about
all the constitutional guarantees
that were intended to safeguard the
liberties of a free people"
Imperial Valley press., 1939-06-20
SUB CONTRACT LET

WASHINGTON, June 20. CUP)-
The navy today awarded to the
American Locomotive company, Au-
burn, NJ Y, n $l49,75O contract or
surface propelling machinery for a
new 7G0 ton submarine being con-
structed at Portsmouth navy yard.
Imperial Valley press., 1939-06-20

could vaguely remember having
been held in cave.
The family long ago had given
Charley Ross up for dead. The
elder boy, Walter, had been re-
leased by the kidnaperS the same
night they were stolen, but they
had never been able to contact the
kidnapers to pay the $4,000 ran
som demanded.
Imperial Valley press., 1939-06-20
COTTAGE CONTRACT LET

WASHINGTON, June 90 CUP)-
George Rock, Stockton Calf, today
received a $85,003 contract for con-
struction of 18 duplex cottages for
reclamation bureau employees at
TCyon, near the site of Shasta dam.
Imperial Valley press., 1939-06-20
WELFARE WORKERS RETURN

Mrs. Truman Thompson and Miss
Jessie Allen of the county welfare
office are back in Ell Centre after
attending the institute of govern
ment at the University of Southern
California last week.
Imperial Valley press., 1939-06-20
Wase-Hour Boss
Attacks Farmers

WASHINGTON, June 20 (UP)-Wage Hour Admin
strator Elmer F. Andrews charged in address here
last night that powerful lobbyists attempting through
amendments "mange the Wage Hour, Social Security
and National Labor Relations acts Andrews said the
Imperial Valley press., 1939-06-20
Charley Ross to
Sue for Fortune

PHOENIX, Ariz, June 20. (UP)-A 69-year-od car
penter who in eight minutes convinced superior court
jury that he was the long lost Charley Ross who dsap
peared 6 years ago the hands of kdnapes leaves for
yania todaY to claim share Of the family fortune
Imperial Valley press., 1939-06-20
Third Term ak
Gains New Steam

WASHINGTON, June 10 CUP)A talk of a third
for President Roosevelt doomed today as the adj
minstration the hard facts of legislative reverses
and the list of other available 100 per cent New Dealers
shrinked to nothing Rebuffs from The Capitol were more
Imperial Valley press., 1939-06-20
RENTAL MEET DELAYED

Ell Centro Rental association has
announced postponement of the
meeting scheduled for Tuesday
night.
Imperial Valley press., 1939-06-20
MAsONS CONFER DEGREE

Ell Centro chapter No. 100, RAM.
will confer a degree at the meet.
ing Thursday night at 7:30 pm
in the Masonic temple.
Imperial Valley press., 1939-06-20

Volta Benes, 62-year-old brother
of former Czechoslovak Presi-
dent Eduard Benes, is among the
1000 who have fled Bohemia and
entered Poland in fear of Nazi
persecution.
Imperial Valley press., 1939-06-20

Arthur Altmeyer chairman of the
social security board, testifies In
Washington before the senate
finance committee. members of
which are studying new social Sc
curity legislation.
Imperial Valley press., 1939-06-20

DUT the tape measure on all lowest
/ priced h-ton panels and see for your
sefhow much extra payload space you
get in Dodge. And Dodge panel trucks
have 100% Rustproofed bodies, tenders,