davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-05-28
Risk-1aking Capital
Flows More Freely
In Weeks Tradinq
Moderate Lift Given
Many Looms Of
Secondary Roting
By the Associated Press.

By the Associated Press.
NEW YORK, May 27.-So called
"risk-taking" capital flowed q little
more freely in this weeks bond
market, giving q moderate lift to
many loans of secondary rating.
For a number Of weeks bonds Of
this class had been relatively ne
elected by buyers, but as their prices
sagged there was evidence of q keen
demand for the top grade low yield
varieties Of which u. s. Govern
ments are the established leaders.
Starting at mid-week the former
trends were partially reversed and
as speculative groups pushed ahead
there was tapering of demand for
some recent favorites in the top
flight division. U. S. Governments
settled back fractionally from their
lately recorded all-time peaks.
Bond dealers thought the moder-
ate revival OF interest in the second
grade departments was in some de-
gree inspired by inflationary ideas
following further persistent but un-
confirmed reports that administra-
tion circles were pondering a new
spend-lend drive to aid industry.
Also an important factor In the
willingness Of traders to take on
the more speculative issues was q
general belief in trading circles that
the slow decline of the last few
months had given that section Of
the market an improved foundation
for a rally.
Rails accounted for a number of
good advances. Medium priced
utilities and 1ndustrials ran q good
second in the upturn.
The week brought little in the way
Of new corporate security offerings,
but there were indications several
stable issues were beng readleo for
the market, with the probability Of
early offerings in the event the i'm
proved trends of listed issues were
maintained.
Evening star., 1939-05-28
Commodity Price
Changes in Week
By the Associated Presa

By the Associated Press.
NEW YORK, May Piled by
grains and cotton, commodities for
immediate delivery as a group moved
into higher ground this week.
The Associated Press index of IS
spot wholesale commodity prices,
with 1926 as 100, advanced to 67.26
from 6e.e4 in the preceding week and
64.H q year ago.
The grains and cotton" division
Of the index climbed to 4 new 1899
high. While rains over Western
crop areas and speculative profit
taking pared extreme daily advances
in the latter part OF the period, net
gains were rung up by wheat, corn,
oats and rye. A shortage of certain
fibers demanded by the trade pushed
cotton ahead.
Silk continued to advance in the
textile division, but wool shaded
downward.
Lambs were higher in Chicago
livestock markets. Hogs, however,
due to heavy supplies, dropped to
the lowest levels in five years.
Among market basket items,
cocoa, flour, lard and butter were
dearer, but eggs and coffee sold at
lower prices.
The Associated Press commodity
price index, with its components,
compared as follows:
Evening star., 1939-05-28
Department Store Sales
| Run Ahead Of 1888

The Federal Reserve Board esti-
mates that department store sales
both in the week and the four weeks
ended May 20 were per cent larger
than in the corresponding periods
last year.
For the week. gains were recorded
for each of the IL districts, ranging
from per cent in the New York,
Atlanta and Dallas districts. to IL
per cent for the Cleveland district
Evening star., 1939-05-28
Chicago Produce

., CHICAGO. May ~ R.-Buttsg. J. 1.6e7,.
JAZZ eais steamsI! amer ns;s.! - score 2S o.
Egss. 43, ,71s: weaker: fresh sraded. extra
frsts, local. 10: cars 1914; hrstt, local.
14A; cars. 16: current receipts. IA; other
prices unchanged
Omitted States Department Of .Asricul.
ure).-Potatoes, 169; on track. 224: total
U. 8 shipments, 7s4; Southern Trilmphs.
early morning market slightly. weaker; late
morning market steady with hrmer under
tone: California long white steady; sup
plies moderate: demand lisht: sacked. per
U. 8. No. l, washed, 2.OO-10: showing de.
esaSSo 1:go;l :So 90; unwssned, 1.ss99.ss: Fo.tly
ana Bliss Triumphs. q. 8. No. /. washed,
2,00.16; Mississippi Bliss Triumphs u. 3.
No, !. unwsshed, 1; 5000; California Ions
mostly l.75: under ventilation. 1870:
old stock, Idaho Russets. demand fair:
about steady; Northern stock, demand VERY
Iisht: supplies lisht; Idaho. Russet Dur
.as:d ssns: y 1s.sA1. ho,Ys i YYnYsshesss hss. Ss,1s;
u. B. No. !, car, 1,20
Evening star., 1939-05-28
Newspaper Advertising
Well Above Year AGO
Special Dispatch to The Star.

Special Dispatch to The Star.
CHICAGO, May 27.-During the
week ended May 13, volume of re-
tail display advertising placed in
The newspapers of 80 major cities was
10 per cent greater than during the
corresponding week of 1898, Adver-
tising Age, national advertising
newspaper, reported today.
Retailers placed a total Of 21 $685.
697 lines Of display advertising in
newspapers in these cities during
that week, compared with 20,065, ,l99
lines placed in the same cities last
year.
The gain for the week was the
largest registered thus far this year,
with the result that for the 10 weeks
to date, 1889 Image is almost iden-
tical with that Of 1898.
Evening star., 1939-05-28
BY HENRY PAYNTER,

Associated Press Business Writer.
NEW YORK P.-Some financial
and industrial leaders seid today
international and domestic politics
and general business conditions
have made them increasingly con-
fident a moderate business upturn
is on the way.
This spreading belief marks q
change in sentiment prevailing since
February.
However, they expected the up
turn would affect consumer lines
chiefly. There was little hope ex-
pressed Of major upturn in the
heavy goods field.
Most Of those interviewed thought
the upturn might be expected by
late summer; some predicted it
would begin shortly after Congress
adjourned.
|. Although a few stock market
analysts this week predicted a turn
for the worse In Europe, the general
attitude Of Wall Street leaders was
that the international political situ-
alton was definitely better as a
factor in this country's business and
that every days postponement of
hostilities decreased the likelihood
Of general war.
Checred by Tax Farley.
On the domestic political front
NfoN CtroaS loo dave u,oro oroo,,ro ooI
chiefly by the reported agreement
this week between Senator Pat
Harrison, Democrat, of Mississippi
and President Roosevelt to try to
obtain passage before adjournment
Of the Morgenthau-Hanes tax re-
vision program.
Some leaders continued to ex-
press skepticism. They saw wide
divergence between the President s
economic views expressed In his ad-
dress before the American Retail
Federation Monday and his re-
ported assent later in the week to
a tax revision program desired by
big business"
Wall Streeters do not regard the
Mofgenthau-Hanes tax revision pro-
gram as a tax panacea by any
means. They do not expect 1t to
reduce taxes or expenses. They do
however, hope that it will tempt into
the common stock financing market
large sums of potential equity money
now lying idle in bank accounts.
Chiefly by allowing losses to be
balanced in with profits, it would
make risk" investment for wealthy
men more attractive than 1t is today
Estimates Vary.
Estimates as to how much money
might thus be brought in vary
greatly. generally running between
1000 900 900 and IS 900 900 900 in the
next couple of years. Some think
the long delay in obtaining a
blessing" for the program, which
was originally conceived in terms
designed not to conflict with admin
istration economic policies. has
tended to diminish the incentive to
invest when such a program is
adopted.
They also point out that the orig
inal plan called for concurrent mod
crate amendment Of Securities and
Exchange Commission procedure, Sc
that very wealthy men, or groups OF
wealthy men, could put large sums
of money in the equity market with
out having their position made
known.
While former s. E. C. Chairman
Evening star., 1939-05-28
Efost Exchange
| Seat Is Sold
For $4,000
! the Associated Press.

d! ire Associated PreSS.
d NEW YORK, May 27.-The New
York Stock Exchange seat of Henry
c. Elfast, who was expelled from
the organization Wednesday, was
sold yesterday for $4,000.
Sale of the membership was or
dered by the exchanges Committee
on Admissions in the interest Of
those who may have claims against
the former firm of Elfast, Frisk g.
Co. Elfast's expulsion was based,
the exchange reported, on alleged
irregular practices in the handling
of customers accounts.
The price obtained for Elfast's
seat was unchanged from the last
transaction.
Evening star., 1939-05-28
Moderate Business Upturn
On Way, Leaders Declare
Consumer Lines Expected to Feel Chief
Effect; Arrival by Late Summer Seen

Douglas acid rejection of first pro-
posals to amend S. e. G. regulations
offered by the Securities Exchanges
technically left the door open to
more moderate suggestions, some
Wall Streeters said there is little
likelihood of the New York Stock
Exchange Sticking its neck out
again" in the near future.
To the layman, all this may seem
more or less like an attempt to
NIX things up" for big spectators
However, a number Of. industrial
leaders have said repeatedly that
when the equity market "opens up
again" they will launch new common
stock issues for the purpose of in
creaslng plants-which would pre-
sumably create new jobs and stimu-
late heavy industry.
POstponement Puzzles.
Some persons closely in touch
with the stock exchange said they
felt sure that passage of the Nor
genthau-Hanes program would
greatly stimulate equity trading
especially on q long term invest
ment" basis.
The sudden indefinite postpone
ment of the S. E. C.'s presentation
to the temporary National Economic
Committees investigation into in
vestment banking practices con-
tinued to puzzle the top flight finan-
cial men who had been subpoenaed.
Even If the inquiry is resumed next
fall, the delay will have given a
breathing spell" to leaders who
were frankly apprehensive over the
treatment they might receive.
Leaders expressed interest but no
particular surprise in widespread
unconflrmed reports here that Sec
retary of Commerce Hopkins was
about TO advocate a new $1,000 OOO,-
900 spending program for public
works, national defense and housing
with emphasis on the last. Two
Wall Streeters said to be fairly
close to Mr.. Hopkins said they had
advised him, as friends, to ''let
Congress do it" because of the 'un-
fortunate" results Of his recovery
program announced last February
Chief interest in the Hopkins re-
port was an indicated transition
from the w. P. A-type Of spending
10 stimulate consumer lines, to one
designed also to stimulate heavy
goods industries.
Wall Streeters interviewed pro-
fessed little interest one way or an
other in the published reports that
Congress might pass legislation
sponsored by Senator Mead, Demo-
crat, of New York to authorize Fed
eral insurance on risk" loans to
new small businesses. Consensus
was that similar powers presently
exist in both the Reconstruction
Finance Corp. which, they said, car
guarantee bank loans to business
and in the Federal Reserve banks
which can make such loans out
right or take over loans already
made by banks.
In the general business picture. q
marked pickup was noted in retail
business. partly attributed to present
or indicated increase in Fedora
spending, particularly in farm areas
rise in steel production and rail-
road car loadings: broad upswine
in commodities led by grains, cotton
silk, hides and rubber; and finally
a moderate increase in activity ir
the London and New York stock
markets, putting many leading issue.
up 81 to 81 per share for the week.
Evening star., 1939-05-28
Pig Iron Output Drops
49 Pct. During Yeor
BY the Associated Press.

BY the ASSoclated Prees.
The Bureau Of Mines reported yes
terday that pig iron production
dropped 40 per cent during the last
year. Total 1888 output, exclusive
Of ferro-alloys, it said, was 1882 ,322
gross tons.
Pig iron shipments, the bureau re-
ported, totaled 18,202 1854 gross tons
valued at 1886, ,875 ,369, a decrease of
48 per cent in quantity and 81 per
cent In total value from 1887.
Pennsylvania was the leading pro-
ducer with 26 per cent Of the total.
That State, together with Ohio, ac-
counted for 20 per cent Of the do
mestic output.
Evening star., 1939-05-28
Sales in Small Towns,
RuroI Areas Gain
BY the Associated Press.

BY the Associated Press.
NEW YORK, May 27.-Daily
sales OF general merchandise in
small towns and rural areas in
April were II per cent greater than
in the corresponding month last
year.
Leading the increase was the
South, where purchases gained 8
per cent compared with the Middle
West, up II per cent: the far West,
up per cent, and the East, UP only
2 per cent.
The improvement in general mer-
chandise sales in rural areas is
shown by a comparison Of values
OF the Department of Commerce
seasonally adjusted index (1921-
1881 equals 1000:
Evening star., 1939-05-28
Whitsuntide HoIidoys
Close European Murts
By the Associated Press.

By the Associated Press.
LONDON, May 27.-European
markets began the Whitsuntide hol-
idays today.
The stock exchange and metal
market in London, wheat and cotton
futures In Liverpool suspended
trading until Tuesday morning. Also
closed were financial and commodity
markets In France, Belgium, Hol-
land and GERMANY. 49,.
Evening star., 1939-05-28
Number of Markets
Halt Saturday Trading

NEW YORK, May ~ P.-A num-
ber of local commodity markets in
stituted summer schedules today and
suspended Saturday trading until
next fall.
Metals and rubber futures will
follow a five-day week until Sep
tember 8. Sugar and cocoa markets
will close Saturdays until October
Evening star., 1939-05-28
Transit Revenues Again
Advance Over 1893
Special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK, May 27.-Revenues
for the transit industry for the week
ending May 20, 1899, based on tele-
graphic reports received from a
representative group of transit op-
Grating companies, showed con-
siderable increase from last year.
Transit Journals revenue indicator
stands at 105.29, which represents
a gain of $40 per cent from the
corresponding week in 1898. For the
week ending May Is, 1889, the in
dicator was 105.98.
The Indicator figure for the latest
week remained at approximately the
same level as for the preceding
week. This good showing is again
due largely to the fact that the
corresponding week of last year was
very low.
Evening star., 1939-05-28
U. 5. Unemployment
Drops 7 Pct. in April
BY the Associated Press.

oy tNe A1S0CIHteQ FreSS.
NEW YORK, May 27.-Unem-
ployment In the United States de-
clined 2 per cent in April to around
10,177, 900 as the present month
opened, the National Industrial Con-
ference Board reported today.
The board, research organiza-
ton supported by contributions from
private business corporations, said
the jobless in April decreased by
220 900.
The decline, it was added, was
due largely to considerable in
crease in the number Of agricultural
workers, which is usual at this time
Of year."
Evening star., 1939-05-28
Gains Rule Trading
In Chicago Stocks
Special DiSpat tch to The Star.
BY the Associated Press.

CHICAGO, May 27.-Gains pre-
dominated In today's moderately &C.
tive stock trading here. Thirty
eight issues scored advances ranging
from fractions to q point or more
while only II were lower and "a
were unchanged. ~
Evening star., 1939-05-28

Also extra or extras
Quotations furnished BY Investment
Bankers Conference. Inc, which gtates they
90 not necessarily reflect actual trApsac-
tons or drm bids or offers but should IN
dicate approximate prices
Evening star., 1939-05-28
D. G. Securities

Quotations BY Johnston. Lemon A co)
=. Yesterdays closing bid ana asked quota.
tons on washington securities which are
traded over-the-counter follow:
Evening star., 1939-05-28
Federal Lund Banks

NEW YORK. May 81 (R,.-Closins Fed
eral Land Bank bonds.
Evening star., 1939-05-28
U. S. Treasury Notes

NEW YORK. May ~ R.-Prices quoted
IN dollars and thirty seconds:
Evening star., 1939-05-28

h-New 1889 hish.
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
School of Sharks Perils
Three Men in Small Boat

LONDON.-Three men had mar
row escapes when a school of so
basking sharks surrounded their
boat and one of them hurled it out
of the water, off Peninver, six miles
from Campelltown, ArgyIshire,
Scotland.
Blinded by water, Hugh Cameron,
the owner, hung on the wheel and
brought the boat back to an even
keel. Struggling to beat the sharks,
the three men managed to reach
land.
I'VE had not got far out when the
Maggie (their motor fishing boat)
was surrounded by sharks-4O or so
of them," Cameron said.
Suddenly fin appeared right in
front of US and l saw a shark rising
to the surface underneath the boat.
Il could have touched it with my
hand. I swung the Maggie around,
but the propeller was struck by the
shark and we were flung out of the
water"
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
TAXES PERPETUATE
DEPRESSION

One of the pressing problems
confronting the next regular sess-
ion of Congress will be to find ways
and means of bringing government
expenditures nearer to balance
with government income Immense
ly important as this neglected pro-
blem has been for years, it becomes
even more vital in the light of ap-
parently necessary Increases in ap-
preparations for the national defen-
Sc.
And when Congress tackles tax
alton, there is still another phase of
the issue which needs examination
and action. That is the so-called
nuisance" and Glass; taxes. We
have had wearying number of
these in the past decade, and their
effect on business, to put it mildly,
has been paralytic. Too often have
legislators with an ak to grind used
the power to tax as the power to
destroy. And we see the fruits of
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
Salvage Indicates Old
Pirate Ship of Florida

PALM BEACH, FLA.-A sunken
vessel off the Palm Beach coast
from which 900-pound cannon was
raised is believed to have been a
pirate ship of the Seventeenth CEN
fury.
All wooden parts of the vessel had
disappeared, but the iron ballast
and iron fittings found in the wreck
age lent weight to the theory that
the craft flew the black flag.
Capt. Dusty Campbell, who direct
ed salvaging of the gun, said that
government ships of that era used
lead ballast because it was easier
to handle. Merchant boats usually
carried boulders for ballast so that
they might be jettisoned when cargo
was taken on.
But pirate craft usually we're out
fitted as cheaply as possible, and
accordingly used iron for ballast and
the fittings were of iron rather than
brass.
In the wreck hundreds of iron bars
were mingled with a few lead ones.
The anchor also was iron.
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03

IMPRISONED in the anchor-chain
locker Of small freighter on which
he had slowed away, George L. Smith,
of Miami Beach, Florida, owes his life
to some fiashlight signals that brought
rescue only few minutes before he
was about to be crushed to death by
the dropping of the anchor.
Smith had slowed away in the ships
chain locker, intending to move to y
safer place as soon as possible. But a
sailor, spying the open hatch, shut it
and locked it, hurrying away before
Smiths shouts could be heard. This
meant that whenever the ship dropped
anchor, the steel chain would begin I'M
coiling at lightning speed, quickly bat
tering to death the young stowaway.
II sat down on the chain and tried to
think of some escape" Smith said, re-
lating his experience. Shouting would
not bring help. I had nothing with
which to pound on the iron bulkhead.
at didn't seem long until night came.
l knew it was night because no more
light came in through the port. The
darkness down in there was getting on
my nerves, and then I thought of my
flashlight. Fortunately had fresh bat
teries in it, and even though the light
was damp, it worked. This was my last
chance to save my neck.
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
so Below, Nothing To This Man
Who Covers Coolest Route in u. S.

unusual in his territory. During Janu-
airy and February, for instance, over
the 100 miles from Duluth on to Inter-
national Falls and Warroad, the daily
temperature readings frequently go
from Is to so degrees below zero.
"Of course" he pointed out, weather
like that puts terrific strain on an
automobile. There are many places
where there is not house within ten
or fifteea lies. A frozen radiator or
engine tzoukie in a place like this might
be fatal Il enc were. stalled at night with
the temperature SO below and a strong
wind blowing. But if you have a radi-
ator full of anti freeze that cannot boil
away, you are safe enough.
MY car frequently has to stand in
the open all night. When that happens,
l like to run it into a snow drift to keep
it warm. But even when it stands COM
pletely unprotected, it starts right of
in the morning.
Given a good car, well cared for,
and ordinary luck, a winter driver
should never have trouble Just because
the temperature is low. Shoveling snow
and buclsing ten-foot drifts is no fun,
but in clear, snappy weather, even at
10 below, l find driving Just as pleasant
rs in the summer months"
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
Town Frightened by Boy;
Carries Poisonous Snake

VRYHEID, NATAL.-There was a
minor panic among pedestrians in
Commissioner street, Vryheid, when
they sighted a small native boy ap-
preaching with a 30-inch poisonous
snake, twisting in angry fashion, in
his hand.
The boy walked unconcernedly
along until cautious passerby, at
safe distance, asked him where
he was going with the snake "a ring
hals).
'I'm going to send it off from the
post office" explained the boy, and
said he had heard someone in Dur
ban was buying snakes.
Reluctantly he allowed himself to
be persuaded that the post office
would not accept the snake, and
killed it on the pavement
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
Lucky Ohioan Survives
Fourth Lightning Bolt

KENYON, OHIO.-Charles Brown,
onion jobber, has been struck by
lightning four times-and still can
talk about it.
Most recently, he was knocked un.
conscious and his right side was
partly paralyzed by a bolt.
1t all started nine years ago when
he looked out barn door and was
hit by a bolt. Four years later, he
was struck while standing among a
group of men. Last September, the
third bolt hit him as he was driving.
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03
Brother and Sister Meet
After 47-Year Separation

BUFFALO, N. Y.-Separated in
Ireland neatly a half century ago.
Mrs. John l.. Marmion, of Buffalo,
and her brother, John Mallon, of
Cambridge. Mass, have been re-
united.
Mallon came to the United States
AZ years ago, but throughout the
years neglected to write home. His
sister came here IL years ago, and
thought Mallon dead when efforts to
find him proved futile.
Recently, Mallon wrote a parish
priest IN Ireland, asking his sisters
address. He received the informa-
ton, resulting IN the reunion here.
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03

such a policy now, in industrial
stagnation and continued wide
spread unemployment.
1t should be the first axiom OF
government that 'class" and pun
tive" taxation should never be en-
poyed, under any circumstance, to
hamstring legitimate business. The
burdens of taxation should fall
equitably upon all.
The states, too, should think this
over. Many of them have been Of
Tenders in passing indefensive
"class" taxes. And in doing that,
they have contributed nightly to
the perpetuation of depression.
Glacier County chief. [volume] (Browning, Mont.) 1931-1940, 1939-11-03

merrily over the roads along the Can
adian border week after week, with
the thermometer frequently reaching 30
and 40 degrees below zero. Not only
that, but he insists that the woes Of
arctic driving are 90 per cent imaginary.
Rankin's job necess:tates weekly
trips over the highway connecting In
ternational Falls and Warroad, Mime
sofa. Even when the temperature
dropped one morning to Sc degrees be-
low zero, a level at which an ordinary
thermometer would burst and the cold
has to be recorded on a spirit thermom-
eter, Rankin kept to his schedule and
thought nothing OF his experience.
Such weather, Rankin saws, is rot