davidaulloa/AmericanStories huggingface dataset:
Evening star., 1940-09-18
Steel Leader Urqes
Private Enterprise
|At Defense Helm
Quicker Results at
Lower Cost Would
Result, OIds Says
BY the Associated Press.

PITTSBURGH, Sept. 1S.-Irving
Olds. chairman of the United States
Steel Corp, said today national de-
fense needs will be produced quick
er and at lower cost "if private en-
terprise is at the helm under its
own leadership"
In an address. prepared for de-
livery at a luncheon opening a
three-day inspection tour of United
States Steel plants by corporation
officials. Olds declared:
I'VE have read recently of sit
down strike of capital and of in
dustrys refusal to cooperate with
the Government. There is no basis
for any of these stories. Unfor-
tunately. we have about us critics
who appear only too willing, by
reason of ignorance or otherwise,
to point condemning finger toward
business without attempting to as
certain the underlying facts"
He asserted the strategic steel
industry will not be found lacking
in cooperation or in zeal or pa
triotism" and that generally speak
ing the personnel of American bus
mess is both experienced and COM
petent and as patriotic as any other
group of American citizens"
He cautioned, however, that it
took time to convert orders into
finished products and added:
80 1t will not be surprising if
many inSuficiencies in military
equipment and supplies still exist a
year hence. But American industry
must not be held responsible for de-
lays in the commencement of the
program, or for the time necessarily
required to carry out the program.
Business is just as desirous as any,
one else of speeding output, of COM
pleting contracts and of clearing the
decks for still further production in
the public interest"
Although the steel industry is op-
Grating about 80 per cent of theo-
retical capacity, Mr.. Olds said ma
tional defense contracts accounted
for only small percentage" of pro-
duction.
Il do not mean" he said, ito con-
vey the impression that when steel
in greater quantities is required at
some later date for the national de-
fense program the steel industry
will be found unequal to the task
imposed upon it. On the contrary,
I believe the elasticity within the
steel industry will permit an ample
supply of steel when needed. .
although some system Of priorities
may be found necessary"
Evening star., 1940-09-18
Federal Debt
Scars Past
44 Billion
By the Associated Press.

DS Nllt hSSOIldtcu 1863
The Federal debt scared past s44,-
600 900 900 today before the Treasury
had begun huge borrowings for ma
tional defense
The Treasury revealed that out
of its s45 000,000 900 limit on bor-
rowing for general purposes, it had
exhausted s44061 ,82l,728 Several
additional millions of the borrowing
power also were reserved to cover
the automatically increasing value
of baby bonds.
This indicated most of the Treas
ury's borrowing in coming months
would be confined to the special
$4,000, 100000 borrowing authority
given it by Congress for national
defense purposes.
Since the present fiscal year
started July /, the Treasury has in
creased its debt by sl,094 .290, $50
Compared with a year ago, the debt
was up $1,000, 100000.
Evening star., 1940-09-18
100000 Capital
Reported Needed
By Seaboard
Additional 81 800, 900
Sought for Additions
And Betterments
BY the Associated Press.

BY the Associated Press.
NEW YORK. Sept. 18.-The Sea-
board Airline Railway needs capital
of s6,00o,000 for the period 1e41-44
and an additional sl.800,000 for
additions and betterments." Col.
Henry w. Anderson. co-receiver of
the bankrupt carrier, testified yes
terday at hearing before Special
Master Tazeweu Taylor
The hearing on budgetary require
ments was in continuation of a
meeting adjourned ip July and was
incidental to reorganization plans
for the road.
Col Anderson said Seaboards s
freight traffic in 1910 will top 1929
and approach the record levels of
l926-27 if the present rate is main
tanned.
Passenger miles have also sub
Stantially increased in the past few
years, he added. In 1889 about l50,-
100000 more passenger-miles were
recorded than in 1929.
Col. Anderson declared that he
and his co-receiver, L. r. Powell.
made extensive studies to determine
the desirability of abandoning pas
senger service after revenue from
this branch had dropped TO $2,383.-
900 in 1882
They decided against relinquish-
ing such service because: |. Pas
senger and freight divisions were
inextricably mixed. 2. Only so per
cent of passenger facilities were be-
ing used.
Therefore, Col. Anderson said.
they tried to expand passenger
traffic and by 1889 revenues were up
to S6.3l2000.
Looking into the future, Col. An
derson foresaw high-speed freight
service using smaller train units.
The bulk of passenger traffic, he
added, would also be high-speed on
through routes only Branch and
local lines would be abandoned.
Evening star., 1940-09-18
BY the Associated Press.

BY the Associated Press.
NEW YORK, Sept lathe Ex-
change, monthly publication of
the New York Stock Exchange,
wondered out loud today why bro
kers remain brokers when trading
becomes "chronically dull"
1T is safe to say that merchant
would need to be a rugged indi-
vidualist indeed to keep his estab-
lishment open if he had the equiva-
lent of a scattered 18 months of
profitable business in seven and a
half years" 1t said.
Yet the stock brokers trade has
stood in such a parched desert
since 1888. with occasional spurts
of activity proving to be mere
mirages."
After exploring various explana-
tions for brokers reluctance to en-
ter new fields, the publication con-
cluded.
Evening star., 1940-09-18
Both Year Celebrated
By Sontu Fe Railroad
BY the Associated Press

By the Associated Press
ATCHISON, Kans.. Sept. 1o-The
Santa Fe Railroad was 80 years old
Yesterday and so it came back to its
old home town to celebrate
1t was in Atchison that a group
of men. headed by C. K Holiday,
assembled September II, 1860. for the
initial organization meeting
Although the town is no longer on
the railroads main line today. Santa
Fe officials. headed by President E.
j. Engel. returned to its birthplace
and the big Santa Fe celebration.
A crowd estimated by Police Chief
w. c. Linville at 10000 jammed
downtown Atchison for the dedica-
tlcn of the Santa Fe Memorial and
a parade. The memorial is a 600
pound bell from an early day Santa
Fe locomotive.
Evening star., 1940-09-18
Chicago Produce

CHICAGO. Sept 1s lP.-Butter. re.
ceipts, ga .O69: ,hrm: creamery. a3 score
26l2; IS, IS. 30 centralized carlots, -
eggs receipts, 5,4S4: hrm; fresh sraded
extra hrsts, local. 21A; cars, 2ll. stor
age packed extras, %; nrsts. 21la: other
prices unchanged
Omitted States Department Of Asricul.
re).-Potatoes, arrivals, "a: on track
2S1: total United States shipments. 443
supplies liberal; demand for good Western
triumphs moderate: market hrm; for Idaho
Russet Burbanks and Oregon LonE Whites
demand light. market slightly weaker; fol
best quality Northern stock, all varieties
demand light, market about steady: Idaho
idaho and Colorado Bliss Triumphs. U. s
No. l. LEO; OREGON Long Whites. Y. 3
No !: I25il:3 Minnssotss and ID North @
blers, 15 to 90 per cent q. s. No. l. 1890;
Early Ohios. so to 90 per cent U. S. No. !
s5-92la; Bliss Triumphs. s5 to 90 per
cent U. S. No. i. s0-1.15 Wisconsin Cob
blers. U, S. No. |. / .05.
Evening star., 1940-09-18
Exchange Monthly Asks Why
Brokers Stay in Business

Despite wearying lethargy over
long periods, confidence abounds
that when the public recognizes
fully the value of protective meas
ures which lately have been ranged
about market procedure investment
interest in securities will increase
The brokers feel, furthermore,
that the impulse for trading trans
actions that aim to capitalize new
developments IN industry, the
growth of business in particular
fields or significant economic in
terests is too deeply inlbedded in
the American comprehension of
progress to fall under a permanent
ban"
Meanwhile the Exchange sug-
gested a practical attitude calls for
elimination Of extravaganza, win
dow dressing and an overimpressive
front" by brokerage firms while
the drought lasts.
Evening star., 1940-09-18
August Rail Revenues
Show Large Gain
Over Year Ago
Freight Receipts Account
For Large Portion
Of improvement

By the Associated Press.
The Association of American Rail.
roads said yesterday that 81 class 1
railroads in August had estimated
operating revenues Of s3O5, 5,753,s75,
compared with s27s,o7s,1s5 in the
same month Of 1899.
The reporting railroads. the asso-
citation said. represent 8O7 per cent
of total operating revenues Of all
class / railroads.
Freight revenues in August
amounted to s247 563, compared
with 1921 .599, ,745 in August, 1899.
Passenger revenues totaled s33..
675, $50 compared with s33 3,035 ,S84
in August, 1899. Z
Evening star., 1940-09-18
Financial Barometer

dinsrv NE insuTapce in Anpust v.re IN
per cent greater than the same month a
wear ago. according 10 the Life Insurance
Sales Research Bureau Gains were shown
by all sections of the country with the
New England States registering the largest
increase
The Improvement in August brought life
insurance sales for the year to date
per cent above the total for the CORE
spending period a year ago. 1t was the
first time this year that cumulative sales
have nosed ahead of 1899.
Evening star., 1940-09-18
Higher Net Reported
By Erie RuiIrood
By the Associated Press.

By the Associated Press.
CLEVELAND, Sept 18-Erie Rail-
roads August net railway operating
income was 81 Al 1867 against $780,
0l9 the preceding August, the line
reported. The first eight months
total showed an increase of S206l.-
567-s7 J649 ,978 this year against s5,-
o8,4l1.
Evening star., 1940-09-18
Sales Of Variety Stores
Highest in 10 Years
Nv the Axsor,s-e6 Press

BY the Associated Press.
The Commerce Department says
sales Of variety stores in August,
considering seasonal differences.
we're the highest for any month in
10 years.
August sales we're estimated at 3
per cent more than July and 5 per
cent above August, 1899.
Evening star., 1940-09-18

Quotations furnished BY National As
states they 40 not necessa rily reflect actual
transactions or firm bids or offers, but
should indicate approximate prices. and
unless otherwise indicated. are as quoted by
the sponsors or iSSuers
mot quoted by sponsors or issuers.
Evening star., 1940-09-18
London Metal

LONDON Sept Is LPl.-Bar silver,
13,.d: of IL Equivalent. 42.50 cents
Bar gold. 1855: unclaimed. Equivalent.
S33 1851 Exchange. "a 03.
Evening star., 1940-09-18
Washington Exchange

SALES.
Capital Transit Colo at u, 10 At
IL.
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21

DIR. Linden S. Dodson has interesting article
on "Greenbelt" in the October issue of the Journal
of Adult Education. This particular magazine can be
found in the library-so--Hfli1e in the library why
not pause for few minutes read about our CON-
mulity?
Since living in cooperative community
many probably than mildly interested in CO.
operatives and would like to learn more about this
Important subject. Below is list of the books to
be found in the Library pertaining the topic that
Will be OF use and interest in obtaining
prehensive view of communities of this types
Childs, "Sweden, the Middle Way"; Daniels, nCo-
operation: American Way"; Dillon, "organized Co
operation; Elliott, England, Cradle of Coopera-
t1on"; Go1dmark, democracy in Denmark; johnson,
nomics"; Kalen, decline and Rise of the Consumer;
Kess, "Capitalism, Cooperation, Commm1 sun; Lazo,
"Retai1er Cooperatives; How to run Themn; Warbasse
Cooperatdon as Way of Peace"; Warbasse, "Coopera-
tive Democracy".
Reba S. Harris
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21
Staff Votes Stronger Policy

That edd tordals in the Cooperator should be more
crat1ca4 OF certain groups and institutions of
Greenbe1t was of the decisions made by vote of
the staff in meeting last Thursday night.
Editor Donald H. Cooper announced two addi tions
TO the board Of editors-Betsy Woodman copy edi-
tor and Phil Brown makeup editor.
Recent issues of the paper criticised and
suggestions were made for the Improvement of staff
cept the Coop Question Box.
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21

Greenbelt parents asked to help save their
town hundreds of dollars by O. Kline Rllmer last
week.
These hundreds of dollars have been spent by the
maintenance department of Greenbelt sod
and bushes the hills leading to the underpasses.
The barberry bushes which had been planted there to
discourage youngsters sliding down not particu-
larly effective.
Mr.. Rlmer asks the full cooperation of the par
ents In stopping this destructive practice.
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21

Angus AacGregor has been preparing for Spring by
treating all park with cottonseed fertilizer
and by vigorous pruning of trees and shrubs. New
hedges have also been set out.
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21

The lunch counter last year sold l., 526 gallons
of ice cream.
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21
WEATHER DELAYS GARDEN SITE PREPARATIONS

Weather has caused a slight delay in the alloca-
ton of garden plots, it announced by Wallace F.
Aabee. The planning, ferti1izing and stalking of the
plots could not be carried during the rainy spell.
It is hoped the sites will be ready sometime this
week.
The dollar necessary to reserve plot is still
being received.
Greenbelt cooperator. (Greenbelt, Md.) 1937-1954, 1940-03-21

Mrs. John F. Vachon, in the absence of Mrs. Rose
Apher, reviewed Johann Strauss Father Son" by
H. E. Jacob at the Last meeting of the Book Club,
March -. Mrs. Ralph Hersh accompanied by Mrs.
Charles Yud played two violin solos, "The Artists
Life" and "The Beautiful Blue Danube" to illustrate
the works Of Strauss.
March II MRS. John Perkins will review nThe Star
Gazer", biography Of Galileoby Colt de Harsanyt.
The meeting will be held at Pm. in room 200 of
the Elementary School.
Evening star., 1940-04-19
FOREIGN Exchange

NEW YORK April 10 (P.-The British
pound slipped slightly today. declining %
OF a cent in relation to the United States
dollar in foreign exchange dealings.
The trend was reversal of yesterdays
AS usual. the French franc moved in
close parallel to sterling, losing .00A Of q
cent.
The Canadian dollar also accompanied
the pound, dropping 70 Of cent to
The Netherlands guilder stnesthened
franc and Belgian belga held steady.
Sale rates follow Great Britain in dol
lars. others in cents.
ofaciai Canadian Control Board rates for
United States dollars: Buying, 10 per cent
premium. selling IL per cent premium;
equivalent to discounts on Canadian dol
lars in New York Of buying. 991 per cent;
selling 90 per cent.
Canadian dollar in New York open mar
Uni United G States esf cents sas. discount or
Great Britain. demand 35OA; cables,
3.51; 60-day bills. 34S7s; 9O-day bills,
3.47k, Belgium, 1875: Denmark. un-
quoted; Finland. 1.96n: France. 90: Ger
66k: Hungary. -1765n; Italy. sos; Meth
erlands, 5000; Norway unauoted; Portu-
gal 3.45n; Rumania. 55n; Sweden. %. 76n;
Switzerland 22 243: Yugoslavia, 2.25n.
Latin America:
Brazil. official 6.05 free. $40; Mexico.
japan s3.4s; Hong Kong, 81 .s5; shans-
Rates in SPOT cables unless otherwise in
dicated. n-Nominal.
Evening star., 1940-04-19
Bituminous Output
Up Sharply in Week

The National Coal Association,
from incomplete carloading reports
from the railroads, estimates bitumi-
nous coal production in the United
States for the week ended April 13 as
approximately 100000 net tons.
Production for the corresponding
week: 1881 100000 tons; 1888
5,384,000 tons Percentage of in
crease: 1939-3O36; 1938-430 This
large increase is due to the fact that
the greater portion of the mines
were idle in the 1889 period pending
consummation of a new basic Ap-
palachian agreement.
The report of the Bituminous Coal
Division of the Department of the
Interior shows production of 8,47O,-
900 tons for the week ended March
30, and 7,O24O0O for the week ended
April 6, 1910.
Production. calendar year to April
13: 1940-134 POI 900 tons (subject to
revision); corresponding period
1939-109,015, 900 tons; increase, 23.1
per cent.
Evening star., 1940-04-19
Figures
What They Mean
BY JOHN L. BECKLEY,
Associated Press Statistician.


NEW YORK, April 19.-The rate
they are going now many manu-
facturers of industrial machinery
and machine tools appear headed
for record sales and profits in 1910.
The recession which hit most lines
of industry in the first quarter
failed to slow the feverish pace of
the machinery builders, who started
the year with a record backlog of
untitled orders on their books.
Trade sources say little progress
has been made in reducing this
backlog despite a moderate expan-
sion of capacity by some companies.
March orders were only slightly
below those of January and Febru-
ary, and substantial new business
appears to be just around the cor
ner
The long-eXpected orders from
leading aircraft manufacturers. who
are expanding their capacity to
handle allied war contracts, have
only lately begun to appear in good
volume, manufacturers say. They
lCpOlI HULL Va llllS UOSlllcSS IldS
yet to be placed.
Sizable machine tool orders are
also anticipated from the modern
ization of Army arsenal and ship
building facilities.
Trade sources say the demand for
machinery from domestic manufac-
turers, including those making strict
ly non-war products, has picked up
bit recently With industrial ac-
tivity expected to turn upward in
the near future, manufacturers be-
lieve more orders will soon be forth
coming.
Machinery exports have been do
ins very nicely. In March ma
chinery exports are reported by the
Department of Commerce to total
S67, 1876 900, compared with $53,491,-
900 in February and 49,390,000 a
year ago. Machine tool exports
rose almost S5,OOO.0O0 during the
month to $19,O00,000.
Evening star., 1940-04-19
Ohio STANDARD Oil
Will Redeem Bonds

By the Associated Press.
CLEVELAND, April 19.-Stand-
ard Oil Co. of Ohio will redeem and
pay on June l all of its outstanding
1O-year. 3la per cent sinking fund
debenture bonds, totaling $500 600,
President w. T. Holiday announced
last night
The original issue, made June /,
1888, amounted to S5,O0O,O00.
Holiday reported the following
arrangements for debenture re-
demptlon: Retirement of S5O0,0OO
through the sinking fund and re-
oemptlon and payment of the bal
ance with proceeds of a S4,0O0OO
elght-year loan from the Chase Ma
tional Bank of New York. The loan
bears interest of 2 per cent a year,
payable in equal annual INSTALL
ments of $5O0,0OO per year, starting
June /, 1941, Holiday said.
Evening star., 1940-04-19

Retail Trade Holds
AT Higher Levels
During Week
Store Volumes Average
a to 9 Per Cent
Above Year Ago
BY the Associated Press.

NEW YORK, April 19-Buying
in retail stores at leading centers
of distribution this week Rugged
close to the preceding weeks ex-
panded levels and averaged 4 to
8 per cent above year ago for the
country as whole, Dun g. Brad
street reported today. 49,.
"By dint of promotional pressure
and special fashion days, retailers
succeeded in maintaining last weeks
improved rate of turnover in ready
to-wear," the credit agency said. j..
"Sluggishness in some lines was
blamed primarily on unreasonable
temperatures and there was still ap-
parent feeling that the slow start
OF the season could be overcome
If the weather man would only
catch up with the calendar. Day.
to-day fluctuations were said to
be particularly intense in mems S
and Women's apparel departments.
Chlldrens wear and house furnish
ings were harder, with volume for
llle eiitlTe week showing an expand
ing tendency"
wholesale trade of the past
week was featured by an increased
demand for building materials,
housewares and finished cotton
goods" the agency added. DRY
goods houses reported that a buy
ing movement appeared to be taking
form in staple lines.
The recent quickening of retail
turnover along with announcements
OF price increases in domestic fbers
were reflected in heavier movement
OF pile and fiber floor coverings.
I'm housewares, active items were
unpainted furniture, ironing boards,
curtain stretchers, and kitchen
utensils"
Evening star., 1940-04-19
Rise Forecast in Sales
Of Farm Equipment
BY the Associated Press.

NEW YORK, April 19.-Greater
demand for agricultural equipment
during the next few months was
forecast today by Poors industry
and investment surveys.
Increased sales should result, the
survey said, from higher farm prices
and gains in domestic farm income
In the foreign market, however
which accounts for Is per cent of
annual farm equipment sales, ex-
change fluctuations are expected to
be an adverse influence
Farm income in January and
February, including Government
payments, totaled approximately
ST, 400 100000, or 10 per cent more
than the same months a year ago.
Farm income is not expected to
maintain this rate of improvement,
the survey said, but should be suf-
ficiently larger to boost sales of
farm implement makers.
Evening star., 1940-04-19
Corporation Earnings
43 Per Cent Ahead
OF Last Year
First 90 Firms Show
Large Increases in
First Quorter
BY the Associated Press.

BY the Associated Press. .
NEW YORK, April 19.-Earnings
of the nrst 80 corporations to report
for the initial quarter Of 1910 were
43 per cent greater than for the
same period last year, an Associated
Press compilation disclosed.
Net income of the group totaied
$118 8O52 900, compared with $82 49,
600 in the first three months Of 1889.
Excluding the gigantic American
Telephone & Telegraph Co., profits
of the remaining SO corporations
were 68 per cent greater than
year ago They amounted to s72,-
004 900, against S42, ,744 900 in the like
quarter Of 1889.
Prospects are bright, furthermore,
that, as additional companies report,
the gain over last year will be main
tanned or even increased Most major
steel companies, the automobile in
dustry, the chemical industry, and
most of the big petroleum companies
have not yet reported First-quarter
operations in all of these industries
are known to have been on much
more profitable levels than a year
ago.
Eleven steel companies, princi-
pally smaller units, showed first
quarter net income of $6,328 900,
more than three times as much as
the $2,050,000 earned in the first
three months of 1889.
Profits of six food companies
gained only fractionally, rising to
S8,870,O00 from S8,789 900 year ago.
Six auto accessory companies benz
efitted from the high level of auto-
mobile production, earning S4.300,-,
900, compared with s3,076 900 in first
quarter of 1899. p,
Five railway equipment manufac-}
turers nearly tripled their profits
earning s3,752, 900, against s1,334 900
year ago.
Other industrial groups have not
yet reported in sufficient numbers
to afford comparisons.
Evening star., 1940-04-19
Bond Averages
BY the Associated Press

BY the Associated Press
NEW YORK, April 19.-The
foreign dollar list underwent erratic
changes in the bond market today.
Italian loans rallied on more re-
assuring news, after a sharp drop
caused by expectations of war
move in the Mediterranean.
Italy Is were nearly points higher
towards the closing hour. French
stamped Is of 49 gained about a
point. German 512s of '49 were off.
Most domestic corporate issues
drifted lower.
Norwegian and Danish issues con-
tinued to sink. Norway IS of l943
broke 5 points on sale of a single
bond. Off fractions to more than 2
at one time were Copenhagen 4l2s,
Denmark 512s, Denmark IS, Norway
414S and Denmark 412s.
Lower in the corporate divisions
were Goodrich 4As, International
Hydro Electric IS, Western Union
5s and Reading 412s
U. S. Treasury loans were mixed
In quiet dealings.
Evening star., 1940-04-19
Dry Goods Market

NEW YORK. April 10 P).-Dress goods
and spun rayon cloth were IN fair de-
mand today at firm prices. Orders for
have totaled twice the production. with
loom activity at SO per cent Of capacity.
Staple print and broadcloths were in
prices end few sales being made at top
levels. Inquiry for coarse yarn goods was
better especially for Osnaburgs.
mallaquantities of silk fabrics were sold
today consisting mainly Of sheers and dye
prints.
Clothing manufacturers purchased fair
amounts OF woolen goods and active SAM
pling Of new fall lines Of women's: wear
was reported.