davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1940-10-17
Is Families Control Two
Billions Of u. s. Stock

Points, MELONS and Rockefellers, it
was stated.
The DuPonts, for instance, con-
troll the vast E. I. Dupont de Ne
mours & Co., which in turn controls
the largest block of stock in Cen
eral Motors Corp, with the United
States Rubber Co. as a minor ad-
iunct, according to the report.
The Mellon family has majority
control of Gulf Oil and the Koppers
United Co., together with ownership
of the one-third of the stock of
the Aluminium Company of Ameri-
ca. Other Mellon holdings were said
TO be large in the Socony-Vacuum
Oil Co., the Ohio Oil Co., and three
companies in the Standard group.
Family Very Large
''The DUPONT interests have built
up complicated, ny-tiered pyra-
mid with family holding companies
at strategic points" the report add
ed. "In this way they have sue
ceeded in concentrating control, al
though the number of individuals
participating in the official owner
ship Of the family block is very large
and some are only distantly related.
"The Mellon holdings, on the
other hand, are owned for the most
part directly by four grandchildren
of the founder of the family for
tune, and family holding companies
are Of negligible Importance.
"The Rockefeller family holdings
are concentrated to a larger degree
than either of the other two cases
in the hands of the head of the FAM
lily, but a considerably larger pro-
portion of the family holdings is
owned by foundations which, al
though organized and endowed by
the family, are not under its full
control"
The report noted that with the ex-
ception of $l1,000,000 the Dupont
fortune is concentrated in common
stocks. The Dupont holdings, it was
pointed out. represent the largest
aggregation of wealth encountered
in the study of ownership of the
200 corporations" aggregating two
per cent Of all stock outstanding of
the 200 corporations. Total assets
of the three corporations controlled
by the family amounted to about
So 100 100000, the report continued
Conclusions
Sumner T. Pike, Security and Ex-
change commissioner who transmit
ted the full report to the monopoly
committee. said that the conclu-
sions justified by the survey in
cluded.
|. Only one-half of the large
shareholdings of individuals in the
200 corporations are in the direct
form of outright ownership, with
the other half being represented by
trust funds, estates and family hold
ing companies.
2. The financial stake of officers
and directors in other corporations
is relatively small.
3. OF a total of 8,500,OOO share
holdings, 100000 had a value of
less than $500. whereas 1875, 900
Imperial Valley press., 1940-10-17
Ex.Convicf Seeks
Return TO Jail

OMAHA, Neb.. Oct. IT. (UP)-
Thomas j. Ritchie, 81, who has spent
half his lifetime behind prison
bars, is back home at. the Nebraska
penitentiary-and the aged man
hopes he never again will see the
prison doors open to give him free
DOM
Ritchie, gaunt, kindly appear
ing old man. told District Judge
Fitzgerald when sentenced to one
year on a house prowling job that
che was tired of living
Anything more than six months
will be life sentence for me-" he
told the judge.
Only a few weeks ago before his
arrest in Omaha, Ritchie had been
released from the Missouri peniten-
tiary.
He admitted to police that he was
a former inmate of nine peniten-
tiaries, two work farms and 16
jails during the al years he estimat-
ed he had spent in prison.
People laugh at me when I ask
for work. I can't get an old age
pension. I've disgraced my family
it's too late now." Ritchie said.
The old man said an unwarrant-
ed conviction in Creston. Ia, when
he was II years old started his
crime career.
Imperial Valley press., 1940-10-17
Engineers Plan 10
Move Largest
EarfI1shde

GRAND COULEE DAM, Wash,
(UP)-Bureau of reclamation engin-
GERS are making plans,t remove the
second largest earth slide in the
history of the Grand Coulee Dam.
Officials estimate. the cost of ex-
cavating Approximately 1,30O,0
cubic yards of rock and dirt will
be nearly $5OO,0OO.
Like glacier. the slide for three
years has been moving slowly down
the west shore of the Columbia river
toward one of the power houses.
James Miner, assistant super
vising engineer, said bids on the
removal contract will probably be
called in mid-October, and that
actual work on the removal may
start in December.
The contractors will have to move
one section of the dams rail-
road bed and also the west vista
house, a structure through which
more than a million visitors have
seen the worlds greatest hydro
electric project under construction.
The area to be excaYated is a
crescent-shaped locality some 1,400
feet long.
The largest landslide to hamper
operations at the dam occurred in
March, 1884, when 100000 yards
sloughed off a hillside.
Imperial Valley press., 1940-10-17

shareholdings were worth $501 to
$1,000 and 415,0O0 had a value of
more than $4,000 cash. The latter.
however, accounted for 10 per cent
of the value of the total stock out
standing in the 200 corporations.
4. The number of Americans
owning corporate stock is smaller
than generally believed and prob
ably amounted to only 100000 to
5000, ,000-one out of every five per-
sons with an income.
5. Foreign investors have con-
siderable stake in the stock of the
200 largest financial corpora
tions.
On this point, the report asserted:
stockholders residing outside the
united States are estimated to own
over six per cent of the common
stock and nearly four per cent of
the preferred stock Of these corpor-
ations. their holdings having value
at the end of 1897 of about ST BOO
OO0,000 and $200,OO0,0OO respectively.
THESE individual holdings represent
not less than about three-auarters
OF total foreign portfolio invest
mentS in the stock of all American
corporations. Foreign ownership eX-
ceeds | per cent OF total stock out
standing in about ne-tenth of the
200 corporations. Foreigners. how
ever, controlled but one of the 200
the Shell Union Oil Corp"
Imperial Valley press., 1940-10-17
It's the Food. Not the War That
Influences Young Chinese-American's
Preference for His Native Land

continually spending his entire
weekly allowance and then running
into debt. all because of his
craving for hot dogs beetsteak, ice
cream and pie.
In Hongkong money" the boy
said, hot dogs cost 25 cents each
and they weren't big ones either
For 10 cents we could get a little
bit of ice cream. l like American
food best"
In his school Daniel studied part
of the time under Chinese teachers
and part of the time under English
teachers. Some of the Chinese
words, the sixth-grade boy said,
were too difficult for him so his
teachers, most of whom spoke both
English and Chinese, would help
him out. The school was a private
one and it's pupils wore brown
uniforms which Daniel said he did
not care greatly about
When Mrs. Coon decided it was
time for her son to return to the
United States, she found that pass
age was booked weeks ahead. It
took him 20 days to reach Los An
geles aboard the President Coolidge
and, of course, all he could eat in
the hot dog-pie- e-ice-cream- beef
steak diet.
Imperial Valley press., 1940-10-17
BY MARGUERITE BROOKS

1T is more better here.'
TWelve-year-old Daniel Jung
Holtville schoolboy recently return
cd from a three-year residence in
China, Thursday made clear his
preference for the United States of
America and limited that lack of
American food anG not the ravages
of war influence his decision.
War did not reach KoWloon
where Daniel lived with relatives
and attended the Lingnan school.
Thus his appetite for hot dogs, beef
steak, pie, and ice cream flourished
undisturbed and unappeased on the
Chinese diet of rice and vegetables.
Daniel was sent to Hongkong by
his mother, Mrs. Lew Coon of Holt
vile to visit relatives and attend
school. Before the youngster ar
rived, however. the relatives were
killed in Japanes raid on. Hong
kong. His godparents and other rel
atives took him in charge and en-
rolled him in the Lingnan school
which had been moved to Kowloon,
in the interior.
Since Daniel was born in Imperial
Valley, in BraWley in fact, he was
accustomed to his beloved delicac-
les. He embarrassed his family by
Imperial Valley press., 1940-10-17

CLEVELAND, Oct. II. GUP)-The
most important problem confronting
Britain is the maintenance of sup
ply of airplane pilots, Hugh Baillie,
president of the United Press, said
this week in an address Before the
Cleveland chamber of commerce.
Baillie read a cablegram from
Wallace Carroll. London manager of
the United Press, in which Carroll
said that the fighter and bomber
strength of the royal air force con-
tinues to increase despite slowness
of American deliveries.
! New types of planes are expected
to enter service during the coming
months" Carroll reported, 'includ-
ing big longrange bombers whose
performance will exceed that of the
Boeing Flying Fortress, and fighters
faster and more formidably armed
than the eight-gun Spitfires and
Hurricanes.
However, Carroll continued, "in
reckoning numerical strength it is
more important to count pilots than
planes. Raw material can be con-
verted into a bomber in less than
three months but it takes nine
months to produce a pilot up to
RAF specifications"
Baillie also quoted from message
Imperial Valley press., 1940-10-17
BY LOUIS J. SCHAEFLE

| WASHINGTON, Oct II. CUP
The Securities and Exchange com.
mission today revealed that 13 Am.
erican families, headed by. that o1
Henry Ford, controlled $2,700, STA ,00(
worth of securities in 200 of The
nations leading corporations.
Foreign stockholders at the enc
Of 1887 controlled $4,000, 100000
worth of common and preferred
stock in these corporations. it was
said.
In report submitted to the mon.
opoly investigating committee, the
SEC showed that Ford's family haC
a 1924 ,975o10 stake in the sprawline
Ford Motor empire. Other large
families holdings included
DUPONT family-$573,6 $780, 600. f. I
Dupont de Nemours; IT, S. Rubber
Rockefeller-$336 ,583, 900, STANDARD
Oil IN. j., and Calif)
Meilon-$390 ,943 600, Gulf Oil; Alu-
minum Co. of America; Koppers
United Co.
McCormick-$111, 102 -Interna-
tional Harvester Co.
Hartford-SlO5, 702 ,00O-Great At
lantic & Pacific Tea Co.
! Harkness-$104, ,891 900 STANDARD
Oil IN. j.. and Ind, Calif) Socony-
Vacuum Oil Co.
Duke-$89, ,459 ,000-Duke Power Co
and Myers.
PeW-$75, ,628, ,000-Sun Oil Co.
Pitcairn-$65, SIG 900 Pittsburgh
Plate Glass Co.
Clark-$57215 600 Singer Mfg. Co
Reynolds-$54, 766. .000-R. J. Rey-
nolds Tobacco Co.
Kress- $50044 .O00-S. H. Kress q
Co.
Holdings of the three top families
The Ford. Dupont and Rockefeller
dynasties-represented only a part
of their total wealth, the report
stated.
Many members of these groups
undoubtedly had stock investments
in one or more of the 200 corpora
tions which did not appear among
the 20 largest record shareholders,
either because they were too small
or because they were not identified,
the report said.
The holdings do not include any
investments in banks or securities
companies, as financial organizations
were not included in the study, the
SEC said
Part of Inquiry
The report, on which SEC experts
have been working for months. was
made as part Of the monopoly COM
mittee's attempt to ascertain the
causes of economic health and ILL
ness in the United States.
The Ford, Hartford, Pew and
Duke holdings were concentrated in
single corporations, but other fam
lilies in the select 13 spread their
investments over wide range, the
experts continued.
The three largest spheres of in
fluence were controlled by the Du-
Imperial Valley press., 1940-10-17
Pilots, Not Planes Chief Worry Of
British in Aerial Warfare, Expert
On News Tells Cleveland Audience

received from Fred Oechsner, United
Press bureau manager in Berlin.
Oechsner said he found the idea
gaining circulation that the Nazi
high command would defer an inva-
sion attempt on England and allow
the main theatre Of war to shift
southwark toward the Mediterran-
can area. He pointed out, however,
that this may be just a psychology
cal diversion and the invasion ef-
fort may still be made.
I'VE are presently experiencing
one of those uncomfortable political
lulls which come even amidst wars
the Oechsner cable said. 1.-The blitz-
krieg tempo conditioned Europe to
new shocks practically every minute
and any pause is bound to raise
apprehension or suspicion.
"The fact that the Luftwaffe thus
far has not beaten Britain into sub
mission or even softened her up
enough to make possible the inva-
sion has unquestionably caused sur
prise in wide sections of the public
here.
Those dates on which bets were
placed marking the conclusion of
the War-mostly early October
have come and gone and 1 haven't
heard any new ones.
THE military crowd still seems
confident but also seems to have
accepted the likelihood they'll have
longer, harder pull than first
expected.
"Germany's thrust into Rumania
naturally raised in many minds the
expectation that the German army
will continue to drive southwark
and collaborate with the italian PIN
Ger action in Egypt"
Imperial Valley press., 1940-10-17


liquid absorb gelatine. Stir
briskly. Drink Immediately
after stirring. II it thickens,
stir again. Knox Is tasteless.
easy to drink.
kNOX-AND ONLY KNOX
has been used for these testsi
Knox (U.S.P.)-the same gela-
tine used for over so years for
desserts and salads. Insist on
Knox, in the regular 4-enve-
lope kitchen package-Or the
money saving 32- envelope
package. At your grocer's. Write
for free Bulletin E, Knox Celia
tine, Johnstown, N. Y. Dept. %.
Imperial Valley press., 1940-10-17

FIRST 2 WEEKS: Just drink
envelopes Knox Gelatine
every day.
SECOND 2 WEEKS: Drink
2 envelopes every day. After
that, as required.
The secret is to drink Knox
Gelatine regularly. Keep a sup
ply in your bathroom. Cost?
Little more than q pack OF
cigarettes a day!
HOW TO DRINK KNOX: Empty
l envelope (A pkg.) Knox Gel
atine in glass y full of water
or fruit juice, not iced. Let
The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1940-11-14

day. BY sending you quality breads
you enjoy. BY baking cakes which
you are proud TO serve as your own.
If you haven't tried any Of these
fine foods yet-droP in today and
see for yourself!
The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1940-11-14

Say people who know fine foods.
They've earned their popularity
these modern AGP Bakers. Earned
it by sending you baked goods al
ways oven fresh-in fact, a real
oven freshness which other bakers
envy. But bywhich you profit every
The Wilmington morning star., 1940-02-07
10 Low Yield Bonds
NEW YORK SUGAR

NEW YORK, Feb. 6.-GP-Do-
nestle sugar futures closed un-
changed to 2 points higher today de-
spite a heavy tone in the raw
sugar market. Sales totaled 10000
tons.
Price firmness, according to sew
eral market analysts, reflected the
belief of many traders the market
had been 'oversold' recently.
Nervous selling of world futures
followed rumors of renewed efforts
toward peace in Europe. While a
feeble effort at a rally was made,
final prices were IL to 2 points
lower on total sales of 1.450 tons.
March ended 1.54, May 1852.
Puerto Rican raws sold at $50
cents a pound, a decline of 1 point
from Mondays price. Two cargoes
of Cubas in February-March posi-
ton were held at 2.S5 cents, duty.
paid basis, but buying interest
seemed to be around $50.
Refined moved quietly at $50
cents. Rumors of inquiries for TO-
900 to 10000 tons for export have
not yet appeared on sales books.
No. 3 range follows:
The Wilmington morning star., 1940-02-07
MODERATE GAINS
SCORED BY BONDS
Market Takes Cue From
Stocks, Makes Best Show
ing During Afternoon

NEW YORK, Feb. 6.-R A
~broadened inquiry by investors and
institutions for low-yield bonds
brought a general but moderate
advance in today's market.
Taking a cue from stocks, the
market made it's best showing in
afternoon trading and in most cases
closing prices were around the
days high. Gains ranged from
small fractions to a point in the
general list with scattered runups
of 2 or more.
The Associated Press average Of
10 low-yield bonds posted a new
1910 high at 1925, up 2 of a point
on the day. Other groups, except
rails, were up Il to 3 of a point.
Some brokers said the advice
given bond portfolio managers at
regional conferences of the New
York State Banking association last
night appeared to have stimulated
some of the buying in high.priced
loans. Speakers at the conferences
dWe!t on the "desirability" Of
strengthening bank assets by elm
mating 'sub.standard" bonds and
concentrating investments in the
low-yield but more "safe" mort
cages.
But if the bankers accepted this
doctrine and bought the high pric-
ed bonds, they found buyers for
whatever they disposed of in other
classifications without difficulty.
Some of the bonds of railroads in
receivership ended with plus signs.
U. S. Governments were tardy
in joining the movement, but clos
ed with gains of 2-32 to 6-32 in the
majority.
Some of the issues displaying
climbing power were Columbia Gas
& Electric SIS at 104 3-8, Erie IS at
IA rs, Firestone Tire 3 LIS at los,
International Telephone SIS at 43-
rs, Market Street Railway rs at
IS, Missouri Pacific SIS at II and
U. S. Steel 8 Ids at 1O6 IA.
Norway As and 4 Ids and Bel
GUM IS paced a fairly steady for
eign dollar division.
Sales of $5,434, 500, face value,
compared with 81, 562,2 200 the day
before.
The Wilmington morning star., 1940-02-07
Final Rites Conducted
For Dr.. w. {. Mebane, Sr.

Funeral rites for DR.. w. c.
Mebane, Sr., 81, of Winter Park,
who died in a local hospital Sum
day night after having been IL de-
clining health for several months,
were held from the Winter Park
Presbyterian church yesterday aft.
ernoon at 3 o'clock.
The Rev. Raleigh N. Engle, as.
sisted by the Rev. Andrew J. Howell
and the Rev. ]. Harry Whitmore,
the service. Burial fol.
lowed in Oakdale cemtery.
Honorary pallbearers We're: DR..
S. E. Koonce, DR.. John c. VESSEL,
DR.. D. r. McEachern, DR.. Thomas
Sinclair, Of Whiteville, DR.. H. A.
Codington, DR.. Edward Green, Rich
ard Beasley, Sr., r. T. Sinclair, An
drew H. Harriss, Jr., J. r. Jones,
C. C. McIntire, Dallas Orrell, Harriss
Newman, H. E. Longley, C. c. Muir
ply, J. T. Barden, C. l.. Williams
and U. A. Underwood.
Active ~pallbearers were: DR..
E. S, Bullock, John Lamb, C. D.
Cunningham, A. J. Humphrey, A. H.
Williams and Harmon C. Rorison.
Members OF the New Hanover
Medical Society ate cd the serv-
ices in a body.
The Wilmington morning star., 1940-02-07
What Stocks Did
E

NEW YORK, Feb. g. Up A
,uan of Tor than ITO of a cent
In IT, Netherlands guilder was off.
set by sharp oversees in terms of
Inc dollar in several other Euro
pean monies today.
Strong support for the guilder,
Which advanced IL of a cent, came
on the heels of news from the neu-
tsl country the chief of the army
and navy had been replaced.
The belga, however, dropped .05
of a cent and the Canadian dollar
~ cent. The pound sterling after
early gains, losing IL cent, and the
french franc dipped 90 ID Of a
cent.
Closing rates follow (Great Brit
'n in dollars, others in cents):
GREAT Britain, demand 3.97 "a;
cables 1893 L.; 6O.day bills 3.96 IL;
sV-aay bills 1884 3-4; Belgium 1886,
denmark 1888, Finland 1.S0N,
france 2.26, Germany 4o.20N (ben-
sSoient 1850, Greece 10 Jpn, hun
ssty BISON, Italy sos, Netherlands
os'zo' Norway 22.73, Portugal 3.70N,
noufnanla .63N IS w d 1888,
'"itzerland 22.43, Yugoslavia 2.35N,
nisentlna, official 29.77, free 22.95;
ofazll, official sos, free $40: Next
l0'toN, Japan 23.49, Hongkong
|f'S4, Shanghai 7.45.
'kates in spot cables unless
''hefWlse Indicated. N-NominaD.
The Wilmington morning star., 1940-02-07
CHICAGO POTATOES

CHICAGO, Feb. 6.-R-(U. S.
Dept. Agr.)-Potatoes 100, on track
433, total U. S. shipments 544; old
stock, dull, supplies heavy, demand
slow; sacked per cwt Idaho russet
Burbanks U. S. No. 1, few sales
1.S0 to 200, mostly 1.8O to IS; Col
orado red McClures U. S. No. 1, few
sales las according to color; Ne.
braska bliss triumphs so or more
per cent U. S. No. /, few sales
washed 1876 to 81 L.; unwashed
$50 to SIS; North Dakota Red river
valley section bliss triumphs Is to
80 per cent U. S. No. 1, few sales
lis to Is; Wisconsin katahdins U.
S. commercials 1876; new stock
stronger, supplies very light, demand
fair; bushel crates Florida bliss trl'
umphs U. S. No. l, wahed few sales
2.15,
The Wilmington morning star., 1940-02-07
CHICAGO GRAIN

CHICAGO,I Feb. 6.-R-After
drifting early within a narrow range
today wheat prices stiffened, gained
around 1 IL cents a bushel and
closed at the highs.
Buying and short-covering were
encouraged by firmness at Kansas
City and Winnipeg, a better stock
market tone, reports Of some flour
business in the southwest and rath-
err light receipt at terminal markets.
Light offerings featured the greater
part Of the session but selling in.
creased after gains if 1 IA cents
were scored.
May contracts, after opening IA
cents down recovered slowly and in
closing minutes reached SO So, up
1 3.S, July / IL at Sc IL and Sep
TENDER 1 5-S at IS 3-S cents.
Wheat on the board of trade clos
ed 1 1.S to 1 5.8 higher, May SO IL
to 5-S, July IS IS to SO; corn 3.S
to 5-S up, May Sc 3-S, July 56 3-S to
IA; oats 3-S to IL up; rye IL to
1 Is higher; soy beans IL up; lard
2 to s cents a hundredweight lower.
Wheat closed 7-8 to l 3-8 up at
Kansas City, 7-8 to 1 cent UP at Min
neapolis and So to 3-4 higher at
Winnipeg.
Export business in North Ameri-
IAN wheat was quiet, aside from a
few scattered sales of Canadian
wheat.
The mid.week forecast for Oklaho-
ma, Kansas, Nebraska and Missouri
indicated little, if any precipitation.
Grain men pointed out that good
SHOWS had been received recently in
much of the southwest, but that lit
tie could be said about the condi.
ton of wheat plants-now in the
dormant stage-until another thaw
and growing weather occurred.
Open High Low Close
The Wilmington morning star., 1940-02-07
NEW YORK COTTON

NEW YORK, Feb. 6.-O-Cot-
ton futures came through a heavy
selling barrage with colors flying
today. Closing prices, top for the
day, were up Z to IA points.
Trade interests and, to a lesser
degree, foreign accounts steadily
took all the sellers had to offer.
Spot houses, according to sever
al estimates, sold between 10000
and $4,000 bales, mostly in March
and May. A good part of this was
thought to represent lifting of long
hedges.
A holiday at Bombay and New
Orleans restricted trade somewhat,
since Bombay has frequently set
the pace here in recent trade.
Announcement by Secretary of
Agriculture Wallace of a cotton
stamp plan designed to speed up
small consumer buying Of textiles
was regarded with favor by most
interests allied with the staple.
Worth street, in the meanwhile,
kept trading to a routine clip. Even
secondhand offerings at slight con-
cessions were viewed half hearted.
ly.
Exports Monday 66,17o bales; sea-
son so far 4,356,325. Port receipts
37,O27; port stocks 3,034,227.
New:
The Wilmington morning star., 1940-02-07
Mrs. Emma F. Marlborough
Funeral Services Held

Funeral rites for Mrs. Emma
Francis Marlborough, So, widow of
Martin A. Marlborough, who died at
the home of her daughter, Mrs. G.
E. Nichols, in East Wilmington,
Monday morning, yer held from
the late residence yesterday morn.
ing at II o'clock.
DR.. A. J. Barton and the Rev.
Raleigh Engle conducted the .serv-
ices. Burial followed in Prospect
cemetery.
Active ~pallbearers were: r. G.
johnson, J. T.. Carroll, J. W. Brown,
w. M. Eubanks, o. T. McLe!land,
Robert Orrell, and Harry Terrell.
Honorary: C. A. Almond, G. w.
Hollowbush, A. H. Yopp, D. w.
Scott, DR.. J.. r. Cranmer, w. H.
Holland, C. B. Love and A. d.
Craig.
She is survived by the following:
one daughter, Mrs. G.. e. Nichols;
three sons: Jesse R., Charles E.,
and Clarence M. Marlborough; one
sister; Mrs. Early Ellis, and several
grandchildren.