davidaulloa/AmericanStories huggingface dataset:
The midland journal. (Rising Sun, Md.) 1885-1947, 1940-05-10
WHY ALWAYS SUCH A HURRY
BY J. E. Jones

This swiftly changing world has
sent up our blood pressure.
Time was when our main method
of transportation for any distance
was the stagecoach, Operating on
once or twice-a-week schedule,
weather and roads permitting.
One would patiently await its
arrival for hours, or days, Willing
away the time as best he could Then
when finally on the way, one could
generally depend on live horsepower
to make his destination, but at a
comparatively leisurely pace, yet
one didn't fret about it.
Now what happens? If you miss
a single section of a revolving door,
up goes your temperature! Then you
get into the family car, are heldup
a couple of minutes by red light
and----zowie! You grip the steer
ing wheel until your knuckles turn
white, you bare your teeth, and
Heaven help the poor pedestrian!
subdue this murderous impulse, but
occasionally there are those who
don't. Right there's where many &C
cident start. Off you go, bullying
other drivers right and left aud
daring all who threaten your
right" to both sides of the road.
Remember how angry you were
the time you followed an old
"jalopy" up hill at three mills an
hour? 1t probobly caused you de-
lay in driving time of fully 80 Sec
onds. And remember that poor chap
ahead of you who killed his engine
and made you miss the light? You
couldn't have helped his peace OF
mind any by leaning on the horn
button like you did. All over the
loss of few seconds! After all, he
didn't stall his engine on purpose
did he?
Why all these outbursts of bar
barism? For no other reason at all
than to give vent to baseless i'm.
patience. Nine chances out of ten you
weren't in that much of a hurry
anyway.
The next time this happens, why
just relax and take it easy? Playing
safe may take a few seconds more
but it may mean longer life.
The midland journal. (Rising Sun, Md.) 1885-1947, 1940-05-10
Foreclosure OF Farms

A statement issued by Governor
Black of the Farm Credit Admins
tration reveals that 1865 fore
closures were completed by the Fed
eral Land Banks and the Land
Bank Commissioner in 1889. Thirty
per cent lost their farms because
the owners cound not carry the debt,
and So per did mot do his honest
BEST" according to Black.
Secretary of Agricultural Wallace
recently criticised these foreclosures,
and succeeded in getting control
largely in his own hands. His be-
lief expressed at the time was that
there should be fewer crack-downs
on farmer-debtors. He said they
should be given liberal extensions in
order to enable them to pay off their
mortgages.
Evening star., 1940-08-04
BY CHARLES r. SPEARE,
Consolidated News Feature Writer.

NEW YORK, Aug. 3.--The dull
est July that Wall Street had ex-
perienced since 1918 ended with
stocks showing small average
gain for the month though still
about Is points lower than when
the German drive against the Low
Countries began in May, with bonds
less than 2 points under the high
of April and S points above the
low figure of the year. The COM
modify price index, by the Moody
yardstick, was near ISL, a new 1910
low, compared with over 1863 at the
beginning OF the year.
None of these circumstances sue-
gests an early development of In
flation. Iron and steel production
was 9o.4 per cent of capacity. That
of the United States Steel Corp.
stands at 94 per cent, or higher
than it has been since the summer
OF 1929. June quarter profits of
this company were sufficient to
warrant the declaration of another
dividend of 81 share on its COM
mon stock, the same as in April
Trade summaries covering the
automobile industry emphasized the
benefits to it of increased general
employment, the clearing up of
1910 models and the probable ex-
pansion in inventories to offset any
advance in prices of materials due
to war orders. One journal esti-
Evening star., 1940-08-04
FOREIGN Exchange

NEW YORK Aug. 3 lP:-Dips in some
dollar stood out in quiet foreign exchange
fs"s Z cent at st0 81 U. s. cents. The Hong
Kong dollar was quoted .1S Of cent
lower and the Shanghai dollar lost .O7
of cent. Unchanged were the free"
pound sterling. the German mark. the
yen and the Mexican dollar. Swiss francs
declined .01 of cent.
Closine. rates fellow (Great Britain in
dollars, others in cents):
Canada.
ofdcial Canadian Control Board rates
for u S. dollars: Buying 10 per cent
premium: selling, II per cent premium; ;
equivalent to discounts on Canadian dol
lars in New York of buying, 9.91 per
cent; selling, 900 per cent.
market, l3 per cent discount, or $500
Europe.
Great Britain, official (Bankers' Foreign
Exchange Committee rates): Buying, 4.02;
selling, 4.04; open market, cables 3.S8;
Germany. 401 Ion: benevolent. 1895; Pin
land. 205n: Greece, .6S; Hungary. 19.50n;
Italy, sos; Portugal, 3.S7? :Rumania, .52n;
Sweden, 33:s7; Switzerland, 22.74; Yugo-
Latin America.
argentine, oficial, 29.77; free, % 90;
G GBrazil. of1cial. sos; free. sos; Mexico,
Far East.
Japan; 23.4s: Hong Kong, 1918: shang-
Crates In spot cables unless otherwise
lnolcated.) n-Nominal
Evening star., 1940-08-04
Early Initiation Development
Not Indicated in Trade Signs
Wall Street Experiences DuIIest July
Since 1918; Commodities Hit New Low

mated 1941 production in this coun-
try and Canada at 100000 car
units, compared with 4,400 900 this
year. Railway net operating income
for the first six months of this year
increased $77,000, 900, or nearly SO
per cent, but Is roads did not earn
expenses and taxes.
Public Cautious in Spending.
Normally the first half of Au-
gust is a quiet period in business
Many factories are then closed
while employees are taking their
vacations with pay" It Is into
the tills of the proprietors of sum-
mer and amusement resorts, Of
transportation lines, gasoline sta
tions and of retailers Of sporting
goods and clothes that vacation
funds now pour. In spite of the
fact that June pay rolls were $29,-
100000 over May and the national
income for the first half of 1910
$l,657,000,0O0 greater than in a like
period of 1889, the American public
is cautious with its money. Those
who are subject to the draft are
disinclined to draw on their re-
serves so long as their status for
the next one to three years, under
the proposed act, is uncertain.
The National Conference Indus
trial Board released this week its
figures of unemployment as of last
June. These show a reduction of
100000, compared with that month
(See SPEARE, Page BID
Evening star., 1940-08-04
Lumber Production Rises
Three Per Cent for Week

Lumber production during the
week ended July 27 was per cent
greater than in the previous week,
shipments were per cent greater,
new business, 10 per cent greater,
according to reports to the Ma
tional Lumber Manufacturers AS
sociation from regional associations
covering the operations Of repre-
sentative hardwood and softwood
mills.
Shipments were / per cent above
production, new orders, 18 per cent
above production. Compared with
the corresponding week Of 1899, pro-
duction was per cent greater, ship
ments, 6 per cent greater. and new
business, Is per cent greater. The
industry stood at rs per cent of the
seasonal weekly average of 1929 pro-
duction and 81 per cent of average
1929 shipments.
Reported production for the 80
weeks of 1910 to date was Z per
cent above corresponding weeks Of
1889, shipments were 6 per cent
above the shipments and new orders
were S per cent above the orders Of
the 1889 period. For the 30 weeks
Of 1910 to date, new business was S
per cent above production and ship
ments were 4 per cent above pro-
duction.
The ratio Of untitled orders to
gross stocks was 81 per cent on July
~, compared with 20 per cent q
year ago. Unified orders were
per cent greater than a year ago,
gross stocks were per cent less.
Evening star., 1940-08-04

ton, which is one of its most far
reaching activities. He has served
the chapter in many other capaci-
ties.
All of the regular standard and
pre-standard courses will be offered
during the year, he said, in addition
to certain graduate courses to be
determined by survey now under
way.
Other Committe Members.
Mr.. Christie was appointed to his
new post by Edward M. Blaiklock
chapter president. Other members
of the committee are: Kenneth
Birgfeld, American Security & Trust
Co., vice chairman; Sophia Kary-
dakis, Second National Bank, Sec
retary; James B. Ahalt, the City
Bank; Joseph R. Fitzpatrick, Sec
ond National Bank; G.. Elmer Fla
ther, Union Trust Co.: Raymond
L. Jones, National Metropolitan
Bank; Robert H. Lacey, Colum-
& Co.: Richard A.. Norris, Lincoln
National Bank; Francis E. Robey,
Bank fCommerce & Savings; Mrs.
Elisabeth Rowzee, Hamilton Nation
al Bank; Walton L. Sanderson,
Hamilton National Bank; Paul j.
Seltzer, American Security & Trust
Co., and Neal Wells, National Saw
ings & Trust Co.
Mrs. Helena D. Reed, assistant
trust officer of the Lincoln National
Bank, has been accorded another
national honor, by appointment to
Evening star., 1940-08-04
Cotton Futures Gain
From | 10 5Points
As Pressure Stacks
Best Support Comes
From Trade Houses,
Seeing Higher Loon Rate
By the Associated Press.

By the Associated Press.
NEW YORK, Aug. 3.-Gains of /
to points marked up in the cotton
futures market today were attrib-
uted more to lack of selling pressure
than to any particular demand.
Best support came from trade
houses. There was some early de-
mand from Wall Street interests,
based on expectations of a higher
loan rate for this season. Scattered
hedge and Southern selling supplied
contracts. Traders generally awaited
the Governments crop estimate to
be released August 8.
Sales in the Worth Street gray
goods market for the week were
estimated at approximately 50,0O0,-
600 yards of print cloths and related
items and was said to equal about
three times weekly production.
Prices f1rmed and were well main
tanned despite an appreciable let-up
in demand the latter part of the
week as mills refused to grant con-
cessions on further business.
There were no exports yesterday
and seasons total remained 1869
bales. Port receipts, 8,418; port
stocks, 2,444,055.
C1osinp rance.
Evening star., 1940-08-04
CommodityPrice
Chongesin Week

BY the Associated Press.
NEW YORK, Aug. 3.-Most grains
tilted a shade higher in cash COM
modify markets this week, while
cash cotton dipped little.
Some industrial raw materials ad-
vanced a bit, others retreated.
That was how commodity prices
bobbed around this week, irregu-
larly and with changes generally
small.
Declines slightly outnumbered ad-
vances in the list of IS weighted
cash wholesale commodity prices
making up the Associated Press in
dex. The measure, with 1926 at 100,
as result moved down to 69.71
from 6977 last week, the fifth de-
cline in row. A year ago the index
was 64.41.
Cash wheat, corn and oats all
gained, although rye was shade
lower.
Cattle advanced in Chicago live
stock markets, but hogs and lambs
were less expensive. Among textiles,
cotton, wool and silk all were lower,
although cotton cloth was marked
up.
A shade more expensive among
table food items were butter, flour
and sugar, costing less we're lard
and cocoa.
Copper and tin were stronger
among non-ferrous metals, and tur-
pentine also advanced.
Lower among industrial raw ma
terials were hides, rubber and lin
seed oil.
Steel scrap was down a shade, re-
flecting licensing Of No. grade old
metal for export.
The commodity index, with its
components, COMPARED as follows:
Evening star., 1940-08-04
Fleece Wool Demand
Is Limited During Week

BOSTON, Aug. 3 P Omitted
States Department of Agriculture). {.
Demand for fleece woods was very
limited during the past week on the
Boston wool market. Early in the
week there was a little interest in
fine Ohio delaines and in low quar-
ter blood common and braid fleeces,
but three-eights blood and one
quarter blood wools were largely
neglected. Quotations on graded
combing bright fleece wools were
mostly st 1896 cents, in the grease,
for fine delaine, at 1896 cents for
half bloods, at 3S-40 cents for three
eighths and one-quarter blood
grades.
Evening star., 1940-08-04
Aircraft Makers
Due 10 See Profits
Rise for Full Year
British Orders Exceed
Billion Dollars Since
March, Survey Reports
Special Dispatch to The Star.

NEW YORK, Aug. 3.-Increased
business volume and profits for
aircraft manufacturers for the
next II months. at least, are
forecast in Poor's Industry and
Investment Surveys. Should hos
tilities abroad be prolonged, produc-
ton of airplanes ordered by foreign
customers will constitute the great
est proportion Of activity. Since the
last week in March, 1910, Great
Britain has placed orders exceed
ing one billion dollars with United
States aircraft factories. Roughly
5000 airplanes are involved in this
program, of which some 5000 pre-
sumably are bombers. Indication,
are that Lockheed. Martin, Con-
solidated, Boeing and North Amer
ican Aviation are the principal bene-
ficiaries, not to mention the three
largest producers of engines
United Aircraft, Curtiss-Wright and
General Motors. &-
'In the U. S. Governments ma
tional defense program under the
fiscal 1910 supplemental War De-
partment Act, production of planes
is under way and will keep the in
dustry busy for some time to come" +"
continues the forecast. "In addi-
ton there will be a virtual ava
lanche Of business under the new
defense program.
Profit margins during coming
years will not be so favorable as in
the past, however, because of re-
vision in profit limitation slegisla-
ton. Under the Vinson- -Trammel
Act Ito be repealed, manufactur-
ers would have been fortunate to
show per cent on sales. OF course,
as long as foreign business makes
up a sizable proportion of total de-
liveries, very satisfactory profit mar
gins will be maintained. Should
peace reign in Europe in the near
future, domestic aircraft makers
now favored with foreign business
obviously would suffer. True, the
United States Government would
absorb the European business, but
profit restrictions would be i'm
posed thereon.
Repeal of present profit limita-
ton laws and substitution of new
excess profit levies, either on the
basis Of the percentage earned on
invested capital or the increase in
profits over recent years average.
injects tremendous element of un-
certainty in the aircraft manufac.
turing field. Should profits be lin
tied to q definite percent of capital
funds, those concerns currently en-
joying the greatest return on their
resources obviously would suffer
most" the survey concludes.
Evening star., 1940-08-04
Hilton.Davis Chemical
Annual Net Is $2,941,418
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, Aug. 3.-The Hilton
Davis Chemical Co. reports for the
fiscal year ended June 30, 1910, sales
OF 81, ,941, ,418, an increase of approx
mately ~ per cent over sales for the
fiscal year ended June 80, 1899. Net
income for the last fiscal year, after
all charges and Federal income
taxes, amounted to $255, ,708, an in
crease of about so per cent over net
income Of $l69,827 for the previous
fiscal year.
After preferred dividends, earn
ings per share Of common stock
were $158 for the year ended June
80, 1910, compared with earnings
per share of 95 cents in the preced-
ing fiscal year, an icrease Of over
66 per cent.
Evening star., 1940-08-04
R. {. A. Earnings
For June Quarter
Total $1,415,728
J. c. Penney & CO. Chain
Reports Six Months Net
As $6,159,511
BY the Associated Press.

By the Associated Press.
NEW YORK, Aug. 3.-Radio
Corp. of America and its subsidi-
aries reports for the June quarter
net profit of $1,415,72S, equal to
4 cents a common share, compared
with $724,09l, or 80 cents a share
on the first preferred in the like
1889 period. For the six months to
June 80 net profit of $3,728,621 was
equal to Is cents a share on the
common, against $2.172,201. or
cents common share, ip the first
half of 1899.
J. C. Penney & Co.
j. c. Penney & Co., chain store
operators, reported for six months
ended June 80 net profit of $685.
511, equal to 1924 a share on the
common stock, compared with S.
920,614, or $2.33 a share, In the
comparable period in 1889.
Rheem Manufacturing Co.
RICHMOND, Calf, Aug. 8 P.-
Rheem Manufacturing Co., makers
of metal containers, reports net
sales for the quarter ended June 80
totaled $2,555,903, against 81 1863 ,255
for the June quarter of 1899. Net
sales for the March quarter, 1910,
amounted to $2,384, 900.
The company. with headquarters
here, has plants In Los Angeles,
Houston, New Orleans, Chicago and
Newark. 1t makes oil drums, water
heaters and steel tanks.
Per-share earnings in the June
quarter on 3l4,674 outstanding
shares equaled Al cents. against AZ
cents on 100000 shares for the
June 1930 quarter.
Chicago, indianapolis & Louisville.
CHICAGO, Aug. 3 LR.-The Chi
cago, Indianapolis g. Louisville Rail-
way, the Monon route, reports a
net loss for June of $25, $50, as
compared with $138,662 for the
same month a year ago.
Net loss for the six months ended
June 80 totaled $208, ,408, as COM
pared with $l,o39.874 for the same
period a year ago.
Evening star., 1940-08-04
Weather Conditions
Help 10 Push Corn
Lower
Argentine Dealers Also
Reported Attempting
Sales in East
BY FRANKLIN MCLLIN,
Associated Press Market Writer

CHICAGO, Aug. 3.-Improved
weather conditions for the 1910 corn
crop and reports that Argentine
dealers are trying to make sales in
the East helped to push corn prices
here cent lower today.
December corn, representing the
new crop, fell to 557s equaling the
low reached July % and with that
exception the lowest in two weeks.
Other grains were unsettled by the
action of corn, hedging of wheat in
connection with expansion of the
spring crop movement more than
offsetting mill buying.
Corn closed al cent lower than
yesterday, September, 6o-6oh; De-
cember, 56-56b. Wheat, lsha down,
September. 751s-A; December,
75A-7s. Oats, unchanged to % off.
Soy beans. AS down. Rye, 1s-A
off, and lard unchanged to 2 lower.
Rains in Western Section.
Rains in Western sections of the
corn belt, particularly IL Iowa and
Nebraska, and forecast for showers
over the Eastern sections where
moisture is more urgently needed
depressed corn. However, the
weekly forecast predicted generally
fair skies with temperatures above
normal over much of the belt while
unwanted showery conditions were
forecast for the spring wheat area
where harvesting already is DELAYED
in some areas.
Harvey Williams, trade expert,
said Argentine corn was reported
being offered below domestic prices
at Eastern and South Atlantic ports,
with actual sale of small quantity
reported at Boston. He said it was
claimed offerings at Jacksonville,
Fla, were from 10 to IA cents under
the domestic basis.
Argentina has a large surplus
which has been slow in moving into
export channels At Buenos Aires
August futures closed at 1914, al
most so per cent under Chicago
September Argentine dealers ship
ped 350,000 bushels to Canada this
week and 1000 bushels 10 the United
States and some corn was trans
ported through the New York State
Barge Canal to Canada.
See Poor Wheat Demand.
Export interests expressed belief
poor prospects of an early revival
in foreign demand for United States
wheat are not altered by British
purchase of 100,0000O0 bushels of
Canadian wheat for the current sea-
son. They pointed out that the Brit
ish bought 100000 bushels only
two months ago, none which has
been shipped, and large quantities
of Australian wheat bought some
time ago remain to be delivered.
They said the British apparently
have contracted for almost years
requirements from the two members
of the empire.
Chicago shippers sold 10000
bushels of corn and $1,000 bushels
of oats but increased oats receipts
resulted in lowering of spot prices
1a-11k cents.
Grain range at principal markets:
Evening star., 1940-08-04
Texas Cuts Off
Oil Output
Two More Days
BY the Associated Press.

BY J0e Associated fIeSS.
AUSTIN, Tex, Aug. 3.-The Texas
Railroad Commission today sliced
another two days production of
August crude oil output in view OF
what was termed excessive gasoline
and crude stocks"
The order, signed by all three COM
missioners, authorized producers to
completely shut down their wells
two days this month in addition to
seven shut-in days already imposed.
The shut-ins were estimated to cut
current production of approxi-
mately 1,165,0 900 barrels daily by 75,-
900 barrels day.
The two additional shutdown days
we're tentatively set for August IS
to %.
Evening star., 1940-08-04
Stocks Are Unable
To Establish Trend
In Brief Session
Market Edges Out Of Fair
Recovery Week With
Gains, Losses About Even
" FREDERICK GARDNER


NEW YORK, Aug. (R.-The
stock market today edged out Of a
fair-sized recovery week with minor
gains and losses about evenly split.
Inability of the list to establish a
definite trend in the brief session
was attributed by brokers partly to
the desire Of traders to keep decks
reasonably clear over the week end
on the thought Hitler might launch
his long-threatened "all out" smash
at England.
Reluctance of speculative forces to
expand positions also was blamed
on the desire for more light on the
forward business picture and the ma
tional tax problem with which Con-
gress Is wrestling. Some nervous
ness was in evidence as the result
of increasing British-Japanese ten
sion.
Net Advance for Week.
The Associated Press average Of
go stocks was unchanged at 429,
but on the week held a net advance
of IA points. Transfers amounted
to 12l $50 shares, against the %
year low volume a week ago Of 83,-
220. The days price stalemate was
exemplified by the fact that, of 1866
individual issues traded, 122 were
up. ll6 down and 1913 unchanged.
United States Steel and Bethle-
hem slipped as next weeks mill
operations were expected to show a
small drop due to suspensions of
blast furnaces in a number Of plants
for repairs.
General Motors and Chrysler were
OF a shade despite reports current
sales of new cars were highly salts
factory and active manufacture OF
new 1941 models was to get under
way after shut-downs for change
overs.
Eastman Kodak got up a point
and minor improvement was shown
for Studebaker, United Aircraft,
Glenn Martin. Sperry, General Elec-
trio, Standard Oil of New Jersey,
Texas Corp, Anaconda, Brooklyn
Manhattan Transit and Southern
Railway.
Westinghouse Shares Dip.
Westinghouse dipped, along with
International Paper, Sears, Roe
buck; Kennecott, American Tele-
phone, Great Northern, Du Pont and
United States Gypsum.
In q narrow curb fractional gains
were posted for American Cyanamid
B." Niagara Hudson Power and
Rustless Iron & Steel. Easier were
Electric Bond g. Share, Interna-
tional Petroleum and Pantepec. The
turnover here was around $4,000
shares. compared with $4,000 last
Saturday.
With the month ending Wednes-
day, it was noted that stock deal
ings for July aggregated only 1906
720 shares, lowest level for any
month since August, 1918.
The feeling In boardrooms that
the British had good chance to
repel German invasion, If and
when it ever gets started, apparent-
ly was a buoying influence for the
share list during the week. Prop
ping sentiment, too, were opinions
aboard upturn in industry would
come when defense spending actual
ly gets under way.
Stocks tilted forward Monday and
had their best day since June 10
on Tuesday when the Associated
Press average jumped a full point.
The sharp reversal was believed to
have reflected the idea of many
analysts that sold out" condition
had been reached. The rally halted
Wednesday, but the majority of
leaders managed to creep upward.
Thursday was about an all-even ses-
sion, but prices stiffened a trifle
Friday.
Evening star., 1940-08-04

Avail 41lo SAIhOC Va
Banking, it was
announced last
night.
Mr.. Christie,
-'ho is first vice
president of the
C h a p t er, has
been active in its
affairs for a
number of years,
and now takes
over the vitality
important work
Of directing the
extensive educa-
tlonal program
of the oroaniza-
Evening star., 1940-08-04

the Registration
Committee for
the annual con-
vention of the
Association of
Bank Women, to
be held Septem-
ber 19 to 81 at
Atlantic City.
T h i S organiza-
ton Is for wom-
an bank officers
only.
Mrs. Reed was
ap p OF n t e d by
Miss M ii dr. e d
Roberts of Los
Angeles. nation