davidaulloa/AmericanStories huggingface dataset:
Evening star., 1940-12-20
Control Of Imports
Hinted At by Export
Administrator
System Would Provide
US. With Economic Club
Jopon's Trade Cited
BY the Associated Press.

The possibility of import control
by the United States-a hitherto
unlooked-for step in foreign trade
regulation aroused considerable
speculation today.
The first guarded hint that any
such idea was under consideration
came from Col. Russell l.. Maxwell,
administrator of export control, dur
ing a review Of the work done by
his 6-month-old agency in prevent
ing vital defense materials from be-
ing shipped out of the country.
Many students of the situation,
experts in their fields. have pointed
out" he said. that the control Of
imports as we'll as exports is a
major problem requiring early solu-
ton"
This bare one sentence reference
to the subject occurred at the end
OF the 2,000-word progress report he
delivered last night. There was no
amplification and. with one excep-
ton. available Government oficials
professed lack Of knowledge on any
plans to impose import controls.
Matter Being Studied.
One source. however, said the
matter was being given serious
study and that while action should
not be considered imminent, some
thing might be done in the future.
He was asked wnat purpose would
be served by such move. inasmuch
as the United States, unlike war
ring nations today, was not under
pressure to conserve dollar ex-
change, or to discourage the pur-
chase of so-called luxury goods from
other nations.
The reply was that imposition of
an import control system would
provide the United States with an
other economic weapon which could
be employed if events dictated.
This raised the point whether 1t
was not unlikely that such a sane
ton would be invoked against men,
bers of the British Commonwealth.
Pan-American nations. or Dutch
colonial possessions-countries which
now supply the bulk of American
imports.
Japan's Trade.
The official said that was unlikely
under the present circumstances, but
added that the list mentioned was
not all-inclusive.
A subsequent check of trade rec
ords indicated that among major
import items was close to 100000
600 worth of raw silk annually from
Japan. These shipments have been
an important source of foreign ex-
change for the Toxic government
whose financial reserves have been
depleted by the long drain of the
China war.
Col. Maxwell, in his review last
night. reported that the Export Con-
troll Administration since midsum-
mer had prevented the shipment to
foreign countries Of more than $1l2.-
100000 worth Of vital defense ma
terials.
Additional articles and materials.
he indicated, may be placed on the
long list of exports which cannot be
shipped without Government license.
In its first four months. he said,
the administration had issued ap-
$4,000 one-year export
licenses for goods worth about $780,
600 900. OF this amount more than
$3.50, 100000 worth of products, rep
resenting 20 per cent of the Nations
total exports, already have been
shipped.
Evening star., 1940-12-20
New Security Issues
Reach S228,643,955
Mark in Week

By 'ie Associated Press.
NEW YORK, Dec. 20.-Public Of
fering of new securities during the
week ended yesterday totaled $685.
GAS, ,955. the second largest volume
of the year. Poor's Publishing Co.
reported today.
1t marked the second time in the
last three weeks that new offerings
had exceeded the 5000, 900 900 level.
New issues this week included all
types of financing except railroad.
Stock offerings reached the second
highest level of the year, the largest
total since the week ended Janu-
airy II.
Only IA per cent Of the weeks is
sues represented new money, how
ever, and virtually all of this was
taken by municipalities. Corporate
financing was confined to the re-
funding of existing obligations.
COMPARISONS follow:
Evening star., 1940-12-20
George S. TiIIinehost,
Earle Drummer, Dies

George S. Tillinghast, A, of 235
Bryant street NE, drummer with
the Earle Theater Orchestra, died
today in Georgetown University
Hospital after a brief illness.
A native of Providence. r. l., Mr..
Tillinghast came to Washington
about 20 years old. He had been q
musician at the Earle seven years,
previously having been a member Of
the Palace Theater Orchestra.
His widow, Mrs. Ruth Tillinghast,
and two children survive.
Evening star., 1940-12-20
New Congress Move
To Change Labor
Law Expected
Wagner Act Amendment.
And Boord Shifts Seen
As House Groups Goal
M thu AxeArt Al 6rASR

By the Associated Press.
A majority Of the House commit
tee investigating the Wagner Act
and the Labor Board probably will
ask Congress again in a year-end
report to enact many amendments to
the statute and will recommend ad-
ditional changes IN the boards
personnel.
Informed sources said that the
summary OF the years inquiry will:
l. Recommend that the amend
ments, which passed the House. 2
to /. and are pending in the Senate.
be enacted into law
g. Report that enforcement of the
statute has improved since the re-
placement of group Of high board
officials.
3. Suggest that what will be termed
the radical element" be removed
from board personnel, both In
Washington and in the field
An intermediate report approved
by Chairman Smith, Democrat. of
Virginia and Representatives Hal
leck. Republican, of Indiana and
Routzohn, Republican, of Ohio and
opposed by Representatives Healey.
Democrat, of Massachusetts and
Murdock, Democrat, of Utah recon-
mended creation of a new Labor
Board and a separation of its judi
cial and administrative functions.
The proposals went through the
House almost unchanged, but i'm
mediately drew the opposition Of
most labor groups and are now
pigeonholed in a Senate committee.
Representatives Healey and Mur-
dock. in minority report. opposed
most of the majority's revisions on
the ground that they would destroy
the Wagner Act. They agreed that
few changes might be made. but
contended the amendments which
the House accepted were too broad.
Evening star., 1940-12-20
Brokers' Looms Gain
$20,000,0 900 in Week
By the Associated Press.

By the Associated Press.
The Federal Reserve Board re-
ported yesterday that last week S
loans to brokers and dealers on Sc
curities held by reporting member
banks in New York City totaled
$400, 900. 900.
For the week ending Wednesday.
the total represented an increase
of $20.000,0 900 when compared with
the previous week.
Loans for the corresponding week
a year ago totaled $685., ,000.0 900.
Evening star., 1940-12-20
Excess Bank Reserves
Reduced by Federal
Defense Loan
$500, ,ooo, 900 Decline
For Week Reported
By Reserve Board

By the Associated Press.
The Federal Reserve Board said
Federal defense borrowing cut lend
able excess reserves of banks $780,
100000 to $6,40o .o0o, 900 in the week
ended December 1S.
During the week, the Treasury
sold $3.50 100000 of new national
defense notes. This was partly
Offset, in its effect on excess re.
serves, by Treasury gold purchases
and spending.
The boards statement said:
During the week ended December
18, member bank reserve balances
decreased $34S. .o00, 900. Reductions
in member bank reserves arose
from increases of SOL ,0O0, 900 in
money in circulation, 1886, 900 900
in Treasury deposits with Federal
Reserve banks, $1,000 900 in Treasury
cash and $25.O00, 900 in non member
deposits and other Federal Re-
serve accounts, Offset in part by
increases of $65 ,O0O, 900 in reserve
bank credit, $4,000, 900 in gold stock
and $4.000.O00 in Treasury currency.
Excess reserves of member banks on
December 18 were estimated to be
approximately $6,40O,O 900, 900. a de-
crease of $500, 100000 for the week"
Changes in member bank reserve
balances and related items during
the week and the year ended De-
cember 1S, 1910, were reported as
follows:
lin millions of dolars1
Evening star., 1940-12-20
Cross
Continued From First Page

in the United States-the 4,733-ton
tanker Pauline Friedrich at Boston
and the 4,353-ton Arauca at Port
Everglades, Fla
The Arauca took refuge a year
ago when the British cruiser Orion
intercepted her while she was trying
to reach Germany from Vera Cruz.
Mexico.
Italy has q vessels tied up on
both coasts and Denmark has 81
ships laid up in this country's ports
Britain held that Danish ships
acquired IAN enemy character" when
Germany invaded Denmark and
Danish ship operators refused to
turn their vessels over to the Eng
lish on a charter basis after a long
and bitter controversy.
President Roosevelt said in WASH
ington today that plan to take
over the Danish vessels and tuln
them over to Britain was a new one
on him.
Evening star., 1940-12-20
Gen. Ti|ton Assigned
Fort Monroe Command

Assignment of Brig. Gen. Rollin
L .Tilton to command Fort Monroe,
Va. was announced today at the
War Department. He succeeds Maj.
Gen. Frederic H. Smith. who will be
transferred to Fort Mcclellan, Ala,
to head the 7th Army Corps.
Since October 4 Gen. Tilton has
been in command of the harbor
defenses of Chesapeake Bay, with
headquarters at Fort Monroe. He
will retain this command. it was
said. along with his new assignment
as post commander.
Evening star., 1940-12-20
Money Market Busy.

NEW YORK, Dec. 20 lP.-The
securities and exchange commits
sion's recommendation for competi-
tive bidding on public utility holding
company financing over $1,000 900
comes when the money market is
churning with new security offerings.
December financing, Wall Street
calculated today. will probably be
the largest for any month of the
year.
The great bulk of the months
financing was publicly offered.
During 1910, statisticians figured,
about 10 per cent of new securities
found an investment outlet through
public channels.
The $4,000, 900 American Tele-
phone g. Telegraph Co. financing in
November. however, was sold pri-
vately to a group of insurance COM
panies.
Present activity in financing stems
primarily from one factor: Money is
cheap. Canny corporation execu-
tives have grabbed the chance OF
lowering their cost of borrowing by
calling in issues with higher cou-
pom rate and selling new bonds with
a rate of around per cent.
Rail Deals Reported.
The present receptive mood OF
investors was underlined by the
disclosure of two deals In the rail
securities market
A railroad holding company took
advantage Of the current strength
in top-flight bonds and arranged
the sale of several millions of dollars
of Pennsylvania Railroad bonds out
of its portfolio. The bonds included
the general mortgage 4as of 1865.
the consolidated AIS of 1860 and the
convertible debenture 314s of 1882
Despite the large offerings. the
bonds continued to advance to
around the years best prices. A
contributory factor to their strength
was the fact the carriers traffic has
been running at high levels.
The other rail deal was the dis
tribution through Smith, Barney g.
Co. and associates of 65.833 shares
of Chesapeake e. Ohio stock. The
trade was made over the counter at
the closing New York Stock Ex-
change price of Az, less dealers
concession.
Shell Union Oil.
Talk was also heard in the finan-
cial district that Shell Union OIL
Corp. was considering proposals to
replace an issue of $34, 10000 of 51h
per cent preferred stock with a
new low-rate debenture issue. Only
funded debt of the company at pres
ent is $85,000,000 of ~ per cent
debentures.
National Oil Products.
Smaller splashes in the financial
pond were created by an offering
by National Oil Products Co. Of
$780, 900 sinking fund 81 per cent
debentures due December /, 1855, at
101, and 1896 common shares 1T
$2S a share An underwriting group
headed by jackson g. Curtis made
the offering.
City of Richmond.
Shields & Co. will head banking
group Offering a new issue of $780,
600 City of Richmond l per cent
public improvement bonds matur-
ing January /, 1942-1961. inclusive,
at prices to yield 10 to 1.3 per cent.
Evening star., 1940-12-20
Bidding
Rule for Utility
Issues Asked
S. E. G. Division Urges
New Regulation on
Security Offerings
MILLIONS or
DOLLARS
B, TIE Associated Press.

B, TIE Associated Press.
The Securities Commission re-
ceived a recommendation from its
utilities division last night that
competitive bidding be required in
connection with the issuance of new
securities by public utility COM
panies.
Under present S. E. c. rules, utility
companies arrange for the under
writing OF new issues in private deal
ings with investment firms. The
proposed rule would eliminate such
private negotiations and require
sealed bids to be opened publicly
at q specified time and place. No
exception would be made concerning
private placement Of securities.
The proposed rule would apply to
the issuance Of securities "in an
amount exceeding 100000, with
certain = exceptions
The recommendation followed an
exhaustive study of the commits
sion's duties under the arms length"
provision of the Holding Company
Act. Arms length" means free and
uninfluenced action by an issuer in
choosing bankers and fixing the
terms Of financing.
The commission asked for COM
ment by January 6 from the utility
holding companies, public utility
commissioners, investment bankers
and other persons interested in the
recommendation.
Evening star., 1940-12-20
N. & w. Declares
Dividend of 81
Ion Preferred
81 the Associated Press.

BY the ASSoCldtcd PreSS.
PHILADELPHIA. Dec 20.-The
Board of Directors of the Norfolk
e. Western Railroad today declared
a quarterly dividend of 81 per share
upon the adjustment preferred
stock, payable February 10. 1941. to
stockholders OF record at the close
of business January 81, 194l.
Evening star., 1940-12-20

mot quoted BY sponsors or issuers
Quotations furnished BY National Asso-
ciation Of Securities Dealers, Inc. which
states they do not necessarily reflect actual
transactions or hrm bids or offers, but
should indicate approximate prices and
unless otherwise indicated are as quoted
By the sponsors or iSsuers.
Evening star., 1940-12-20
Rubber Futures

NEW YORK. Dec 2O-Crude rubber
futures (olD opened inactive. Bids: March,
20. l5: May. 1890.
Evening star., 1940-12-20
Investing Companies

NEW YORK Dec. 20 LP,.-National A.
sociation Dealers, Inc:
Evening star., 1940-12-20

Tin millions OF dollars.l
Dec. is, Dec. IL. Dec.
1910 1910 Iq3!
Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1940-05-03
Keep Farm Records

A farmer is business man-and
also a scientist, merchant, finan-
cier, a manufacturer, and some
times weather prophet. A bust
ness man keeps records of his profit
and loss, and a farmer should do
the same, says R. w. Shofner, a
farm management specialist. Money
invested in land, equipment, and
building is no different from
that invested in stocks and bonds
Money invested in stocks and bonds
is expected to return the owner a
profit. Likewise, an investment in
land and farm equipment is expect
ed to yield a profit or give return
on the investment.
In order that weaknesses in the
farm setup can be determined and
a basis for future operations can be
worked out, farm records are high
ly important.
Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1940-05-03

For two years, Eddie Walls, new
Centreville manager, has ben the slick
est double-play pivot man in the Pied
mont League, playing for the Rocky
Mount Red Sox of the Boston farm
system.
But he was not a great hitter and
there were one or two other things
that did not stamp him as future
major Lacquer. So the Sox decided
to give him a shot at managing and
handed him the Centreville reins.
Last year, Walls was away out in
front of all Piedmont second base
men in both putouts and assists and
he was in on III double plays, topped
by only one other second sacker in
the loop. Playing alongside of Billy
Adair, who had a bad season at short,
Walls total of double plays was re-
markable. Had be been working with
a better shortstop, the number would
have been greatly increased, no doubt.
The year before, he had 85 double
plays with less help from the short
stop, and his fine fielding average of
1868 gave him tie for the leadership
with Jerry Priddy, of Norfolk, now
the sensational young second baseman
cavorting for Kansas City in the New
York Yankee farm chain.
A PAT average was the best bat
ting record, Eddie could compile a.
gainst Piedmont pitching in 1888, but
last year he boosted that mark to
PTS.
Walls began his baseball career
with Clarksdale in the Cotton States
League in 1895, and he has had trials
with New Orleans of the Southern
and Milwaukee of the American Asso-
citation.
He came within the Boston farm
system several years ago and was
counted as the Rocky Mount second
sacker again this year, until the Sox
decided to sponsor Centreville again
and Billy Evans singled out Walls as
the man to lead the club.
Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1940-05-03
Thoughtful Choice
Urged By Bruce
Candidate For Democratic Nom
nation For u. S. Senate Says
Qualifications For Dealing
With Large Issues Are Vital
Today.

Summing up the issues before the
country as his campaign entered Its
final stages recently, Howard Bruce,
candidate for the Democratic nomina-
ton for United States Senator, en-
phasized the special Importance at
this time Of choosing a candidate
whose views and convictions are
clearly known and whose effectiveness
in dealing with large affairs is proved
by his record.
"The past five and half years have
been described as turbulent" Mr..
Bruce said, "and if you try to look
into the future there is certainly moth
ing to indicate that the next few years
will be less turbulent.
81 began my campaign with a plat
form speech which unequivocably
stated my position on all controver-
sial Subjects" he continued, "and l
have continued to be frank and out
spoken, that the voters of the State
would know for what / stood"
Contrast of Rival
Mr.. Bruce declared that Senator
Radcliffe, his rival for the nomina-
ton, had talked about subjects that
may be interesting but have no spe-
cial bearing on this campaign; and
added that search of the Senator's
record failed to reveal that he had
ever been associated prominently
with any important piece Of legisla-
ton, or that the Senator was "over-
burdened with conviction on any sub
ject."
Mr.. Bruce pointed out that, regard
ing the international situation, he has
repeatedly made his own position
clear, pledging himself at all times
and under all circumstances to use the
utmost of his power to promote peace.
Gin line with Secretary Hull" he said,
81 am opposed to American partlcipa-
ton in the political or military con-
flicts in Europe; but I am likewise an
ardent supporter of the policy Of ade-
quately defending the rights and in
terests of this nation.
personally" continued Mr.. Bruce,
regarding his views on foreign policy,
81 am squarely behind the President
of the United States, Franklin Delano
Roosevelt; Secretary of State Cordell
Hull; and Under Secretary OF State
Sumner Welles. These three great
Americans will keep us clear OF en-
tanglements if it is humanity possible,
but will also maintain the self-respect
of this nation"
Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1940-05-03

most popular figure on the campus
by the student body, and in 1884 was
named the outstanding athlete by
popular acclaim.
The Cincinnati Reds could have had
Poland, for they enrolled him in one
of their schools, but turned him out
and the Cardinals grabbed him.
He was due to report to Huntington
of the Middle Atlantic loop in 1884.
But he had his nose in his college
books and by staying there for the
summer term of 1884, he could COM
plete his course. He decided to fin
ish the job while he was at it and
reported to Huntington in 1885.
ince then, he has been with Roches-
ter, Houston and Decatur, all Car
dinal farms.
Twenty-seven years old, he has a
post as teacher and coach of football
and basketball in high school at Glas-
gov, KY, and that's where he spends
the off-seasons.
Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1940-05-03
INFORMATION
REGARDING SHORE
BALL MANAGERS

In issues past, the Democrat" has
published information about some OF
the managers Of clubs in the Eastern
Shore League, including Poke Whalen
who is pilot of the Pocomoke Chicks
and Bub Jonnard, who is to pilot Mil
ford. Following is an account Of 9TH
er managers of the league:
Eastern Shore Leaguers with pugi-
listic tendencies better count ten be-
fore squaring off with Gus (Shuney)
Britain, new manager of the Sails
bury Indians. Britain is a swash-
buckling, rugged fellow, great jock
ey who can give and take and pref
ty handy man with his dookies.
In 1887, Britain was on the. roster
of the Durham Bulls of the Pied
mont League, but the club told the
parent Cincinnati Reds they didn't
want him because he was always get
ting into fights.
Gust the man we want" said Gen
eral Manager Warren Giles of the
Reds. II don't care if he never catch
es a game. We've been looking all
over for fighting warm-up catcher"
So up to the Red went Britain, a
bit bewildered and stupefied.
81 can't figure it out" said Shuney.
"First they. tell me gotta quit fight
in to stay in baseball and now go to
the big leagues because ! get in
fights. Boy, oh boy! if it's fights
they want I'll sure supply 'em.
"Sure, Pm a fighter, but no trouble
maker. 1 only got in seven or eight
fights up at Beckley, w. Va, in 1884.
They sent me to Wilmington in the
Piedmont loop and was okay there
only four or five fights. But hon
estly, it wasn't my fault. But it just
amt in me to back away"
Britain went to the Sally League
as a catcher in 1888 and was at
Springfield in the Eastern loop last
summer, batting .28O. He's been be-
having himself nicely for the past two
years and has settled down to the
point where he wants to try his hand
at plotting.
The new Indian chief is throw
back to the old days when Charley
Schmidt was catching for the Detroit
Tigers. He comes about as close to
Boss Schmidt as anything the game
has produced in many years.
This year he intends to do all his
swatting against the offerings OF
Shore loop pitchers.
Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1940-05-03
| FARM
TOPICS
RICH COW FOOD
FAILS IN TESTS
High Cost Outweighs the
Butterfat Increase.
By KARL E. GARDNER

Can cows be fed something that
will make the milk richer? Is there
such feed? Many dairymen have
asked these questions, and the prac-
teal answer is "no."
At least that's what experiments
in the Cornell university depart
ment of animal husbandry indicate.
Here is an explanation of what
these experiments showed:
At least three feeds are known
that will raise the butterfat test
slightly. At Cornell, experiments
were made with these three: palm
kernel oil meal, coconut oil meal
and ground soyceans.
A feeding of the palm kernel oil
meal and coconut. oil meal at the
rate of 20 Per cent of the grain
ration gave a small rise in test.
The increase was less than one-tenth
of ! per cent and thus of small
importance.
Ground soybeans fed at the. rate
of 18 per cent of the dairy grain ra-
ton seemed to produce a small
increase in fat test. Other expert
mentors have noted a more definite
rise in the fat test when soybeans
comprised more than Is per cent of
the grain mixture.
Don't be misled, however. I'm
provement in test is not great and
the cost of these feeds rarely per-
mits their use in proportions neces-
sary to give practical increase in
butterfat.
The economical method of inn
proving the fat test seems to be
the same method used for several
centuries. This method is selection
and breeding. The bull used in the
herd is of prime importance, be-
cause he influences more offspring
than does any other one animal in
the herd.
The best beef cattle are purebred,
says E. T. Robbins, live stock ex-
tension specialist, University of Illi-
nois. During some years, the sur
plus from many purebred herds has
been marketed as steers. They reg.
ularly top the market.