davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-05-18
ST. John Bosco
Auxiliary Elects

THE ST. JOHN BOSCO
AUXILIARY 10 the c. Y. O.
Home for Homeless Boys elected
the following officers:
Mrs. Henry A. Schmid, presi-
dent; Mrs. Ralph Allies, record
ing secretary; Mrs. Edward
Dunn. first vice president; Mrs.
Edward Duffy, financial secre-
tary; Mrs. William Darch. second
vice president: Mrs. William
Plunkett, treasurer, and Mrs.
William G. White, corresponding
secretary.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-05-18
Hold Sorosis Prom

Decorations in the red. white
and blue manner interspersed with
gold eagles formed the background
for the Patriotic Prom" spon-
sored by Junior SoroSis Saturday
evening in Flushing Community
Center. Miss Louise Tobey served
as general chairman and patrons
listed:
MEssRs. AND MEsDAMEs
Allen T. Wright Leonard WoeholSh
N. l.. Davis
DOCTORS AND MEsDAMEs
o. L. wnloughby Neil s. Macvicar
The music was the chore of Mrs.
Vaughn S. Fegley, while Miss
Louise Pierson and Miss Martha
Carter were in charge of patrons.
Others working on the event in
Guided:
H H:l.T Ls T"1D.,, r Doris s ss,,..s
Frances Morrow June Pitts
MEEDAMEs
Anthony Topeka Ralph Hanns
Allen ]. Dillon Chester Howell
jackson z. Livessy William {. Barnes
LOUIS -schulk
Honoring her sister-in-law, Mrs.
William Kearns, who with her son,
Richard. is visiting here from their
home in Toledo. Mrs. Lewis
Kearns entertained at a tea Fri
day afternoon. The visitors are
guests at the home of Mrs. Kearns'
parents, Mr.. and Mrs. Roy w.
Schumacher.
A large group motored last
weekend to Owosso, where they
were entertained by Mr.. and Mrs.
Albert Redmond. The women ar
rived at noon for luncheon and a
session at the bridge tables. All
are members OF a bridge club.
Later husbands and friends
trekked over for picnic in the
evening
Included in the company we're:
Mr.. and Mrs. Sumner S. Howard,
Mr.. and Mrs. Maurice Gotthelf,
Mr.. and Mrs. F. Kenneth Howard.
Mr.. and Mrs. Charles D. Craw-
ford, fr. and Mrs. Perry V. Whit
aker, Mrs. Marcella Allen, Mr..
and Mrs. r. p. Fleckenstein and
Norman DesJsrdines of OWosso.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-05-18
Flint Dance
Holds.
Final F etc
FLINT. MAY II.

FLINT. May II.
THE ballroom OF the Durant
Il Hotel presented a festive
picture this evening for the
final gathering of the Dane
ing Club. Departing somewhat
from the usual custom, Mrs.
Mace f. Crittenden, chairman.
and her assistant. Mrs. Russell
{. Roberts, planned the decora-
tons around the humorous angle
of a circus motif. Max Calls
orchestra furnished music for
dancing following the dinner.
The event drew a large gath
erinc since this is the only time
during the year when in-town
guests are invited. Among the
cocktail parties preceding the
dinner was that given by MIR.
and Mrs. Crlttenden, Mr.. and
Mrs. William G. Gregor and Mr..
and Mrs. Archie Mccormick at
the City Club.
Another group gathered at the
home of DR.. and Mrs. Perry V.
Whitaker where the Whltakers
and Charles d. Crawfords we're
Joint hosts. In this party were
Mr.. and Mrs. Harry B. Coen
and Mr.. and Mrs. Erwin Mer-
ram Of Birmingham. Mr.. and
Mrs. Marion A. Dibble of Toledo
and Mr.. and Mrs. Maurice La
Pedes Of South Bend. All were
formerly from Flint.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-05-18
Picnic on Schedule

University of Michigan Alum
nae Association also wound up
the season, with the exception
Of the annual picnic. Saturday
afternoon. The event was the an
nual candlepin tea when sopho-
more junior college girls are
guests. This was held at the
home of Mrs. J. G. R. Man.
Waring.
The program was arranged by
Miss Mary Murphy. while Mrs.
Robert w. Smith, president,
presided at the business session
preceding the tea. Announce
ment was made of the winner of
the candlepin and also of the
scholarship donated by the
alumnae to a junior college girl.
Among those attending the
state convention of American
Association of University Women
in Saginaw Friday and Satur-
day were the president, Miss
Elizabeth WEIGH, and Mrs. John
l.. Riegle. Mrs. Hugh r. Err
baugh, Mrs. William B. Hubbard,
Mrs. J. J. Cell. Mrs. John L.
Mllholland, Miss Frances Car
man, Mrs. c. Tyler Holems, Mrs.
John z. Doty, Miss Olive Small
lldge and Miss Mildred Hodges.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-05-18

Here'saVeav ofOne Of orr Three
Huge FIR Storage Faults
They re situated between our Seventeenth
and Nineteenth floors. Some conception,
of their combined size may be realized
when you consider that these enormous
vaultswill hold as many as so, 600 for coats.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Seems Untinely

With the trend toward vest
ing greater emergency powers
in the President, the proposal
to strip the executive of his
monetary authority seems un-
timely. 1t would seem to me
that the long term problem of
redistributing authority among
the federal reserve, the treas
ury, and other federal fiscal
agencies might better be de-
ferred until more normal time.
Even so it is significant that
the private bankers in the
Federal Reserve Banks. in the
federal advisory body, and men,
bers Of the board itself con-
CURED on a statement of policy.
which, if it accomplishes moth
ing more. focuses attention on
the abnorInality of the present
banking and credit trend in the
United States. I This reserve
group. however, finds opposition
in the treasury. in the federal
loan administration, and in the
federal deposit, insurance cor
DOratiOn.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
All or Part of Loan

After determining whether a
prospective borrower recommended
by the defense advisory COM
can be accommodated, the
clearing group here will so advise
the defense commission. 1t will
then get in touch with the bank or
banks where the borrower has his
account. That institution will have
a chance to take all or part of the
loan. If it does, the banks will
arrange that. If it does not feel
that it can take any of the loan
the four banks here will advance
the money.
The banking officers who are in
charge of this program here are
Arthur w. Mccain, vice president
of the Chase National; De Witt A.
Forward. vice president of Ma
tional City; Broderick Haskell,
vice president of Guaranty Trust,
and Hugh II. MCGEE, vice presi-
dent of Bankers Trust. MCGEE
was recently injured and Edgar
S. Chappelear is acting for Bankers
Trust in this arrangement.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
u. ). Steel Promotes
-Four Operating Men

CLEVELAND. o. Feb. PRO
motions for four operating men
have been announced by American
Steel and Wire Company, subsldi-
airy Of United States Steel Corpo-
ration. A. F. White has been
appointed assistant 10 the manager
of operations of the Pittsburgh
district. His position as general
superintendent NJ Donora. Pa.
Steel and Wire Works Will be
assumed by l.. +. McGlincy. At
present division metallurgist in
heating and hot rolling at the main
office in Cleveland
Richard r. Snow. at present
assistant superintendent Of the
open hearths and hot rolling at
Worcester. Mass. will assume Nc
Glincys position in Cleveland and
u. F. Corsini assistant general
foreman of Worcester rod mills,
will become assistant superlntend-
ent of open hearths.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
An-Time High
Mutual Banks Deposits
Exceed 10 Billions

NEW YORK, Feb. deposits
of the nations mutual savings
banks reached an all-tine high of
.S10,6l7, 75S.621 al the end of 1910.
but gain of SIT ,920,79 during
the final six months of the year
was the smallest half-year in
crease in recent years, the Ma
tional Association of Mutual Saw
ings Banks reports.
Assets of the banks located in
IL states followed the same gen.
eral course as that of deposits, ris-
ing S4,491, 1886. to another h & h
of $11.919, 1926, PIP. During 1910,
number of accounts receded 1872
1888 to 1854 40.
Surplus account of all banks de-
creased S23,07S,434 to 81, POS, OH, \
1862. This sum provided one of the
highest ratios of protection af-
forded any similar accumulation
of capital. The ratio stood at
11.9 per cent, off 03 per cent on
the year, constituting a backlog
of almost u cents added protec-
ton for each dollar of deposits.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
For The Better. Too

Our good friend Adrian Nc
Gonagle of The Detroit Bank sent
US q booklet which includes all
Of President Joseph M. Dodge's
editorials which we followed with
great interest in the banks Teller
magazine.
Titled Our Changing Banking"
the booklet includes complete
analysis of such problems as
causes OF loan trouble, liberalizlng
credit, faulty tradition and effect
of unsound loans.
Although we're not in complete
agreement with him on all his
conclusions taking customers
attitude), Mr.. Dodge does offer a
lot Of constructive criticism and
advice that could well be absorbed
by any business man.
II you're interested, note tc
Mac" will get you a copy, I'm
sure.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Brew. Net
S39O,4l7 in 1910
Report Profit Well Abope
PrepiOns Year as Sales
Gains Continue

Goebel Brewing Company re-
ported for the year ended Decem-
Der 81 net profit of $390,417
after depreciation, federal income
and excess profits taxes, etc, equal
to % cents a share on 1875, 400
shares of common stock.
This compares with a 1889 net
profit of S339,953 or "a cents a
share.
Net profit for the quarter ended
December 81, the company states,
was $94,366 or Z cents a share,
compared with S12S.75S orr cents
a share in the preceding quarter
and S71.5 6S or 5 cents share for
the like 1889 period.
Current assets on December 81,
including S416,140 cash and mar
ketable securities, totaled S1,051,-
459 and current liabilities were
$500, 355, compared with S46S, 708
cash and marketable securities,
1913, 993 current assets and $500
721 current liabilities at the end Of
1889. Inventories were 1854, 526,
with S333.607.
Sales last year amounted to 334,-
PIT barrels of beer, a gain of 22.7
per cent over 1899. January, 1871,
sales were 22,216 barrels. compared
with 1917 barrels a year ago, an
increase of 37.S per cent.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
No Need for Move,
Say Detroit Bankers

While executives of leading De-
troit banks withheld official COM
ment until the plan is clarified,
the unofficial consensus was that
as far as Detroit is concerned,
there is no need for such move.
I'VE are prepared to assist in
defense loans to as great or
perhaps an even greater extent
than any New York banks" said
one bank officer. II see no need
for Detroit banks to take a
secondary position In this mat
ter. Unless there Is more to IL
than appears on the surface,
there's no need for n central
New York clearing house."
Another man offered the opinion
that banks here were justified in
forming their own clearing house"
to serve the greater Detroit area,
and should also be entitled to
telephone service"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02

around mid-morning. Pressure was
most pronounced on leaders in
steels and motors, and declines eX-
.ceeded A point.
Bethlehem Steel lost a point.
United States Steel was down al
most as much. Chrysler lost over
a point, but General Motors was
steady.
There was big trading in Con-
solidated Oil whose price was
down slightly. Other oils were
heavy.
Coppers eased after firm start.
United Aircraft was under pres
sure in aviations. General Elec-
trio ran into considerable selling
and moved down fractionally.
Railroad shares were lower.
Chemicals and utilities were quiet
and steady.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Inspection
Bankers Make Tour of
Republic Steel Plants

CLEVELAND, O.. Feb. 1.-More
than 65 representatives of bank
ing, investment and insurance
firms from eastern cities made a
two-day inspection tour of north
ern Ohio plants of Republic Steel
Corporation. which on Tuesday
announced it expects to file A reg
istration statement with the SEC
early in February covering a re-
financing program in excess of
S100,000,000.
The tour. which was made In
c hartere buses, started in
Youngstown with an inspection of
Republics steel plant there and
Truscon Steel Company. a SUBJ
sidiary. The party then visited
the Niles and Warren plants and
inspected the Cleveland Steel
Works, and Republics alloy op-
erations in Massilon and Canton.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Agree toS21 Ton
Limit on Scrap

WASHINGTON, Feb. 1.-The
nations leading railroads have
agreed to limit the price of No. ]
heavy melting scrap to S21 per
gross ton. Pittsburgh. according to
an announcement of the Institute
of Scrap, Iron and Steel made
public here. This is a reduction
of 81 per ton from the January
prices.
This was revealed in telegram
from the Institute of Scrap Iron
and Steel, Inc. advising its mem
bers that the railroad lists of Of
ferings for prices in February
would state:
I'm conformity with our policy
OF cooperating with the ad-
visory commission TO the coun-
ell of national defense, any
prices out OF line with the pub
licly expressed desire of that
commission to prevent unduly
high prices will be rejected"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Enough Is Enough!

The human side Of business:
After being "mugged" twice,
Executive Vice President Charles
Kanter of the Manufacturer
National Bank ducked behind a
post and disappeared when the
third paper wanted to take his
picture with $50 years a banker"
Sam ngston Harvey
Campbell of the Board of Com
merce-of all peOple-late for
the mayors meeting, mentioned
above Clarence Avery, Muir
ray Corporation president, has
the first model of Murray's
stamped steel bath tub In his
office. Yup, we said model. and
Its only two feet long, so don't
get excited EX-Tiger Eden
Auker has gone South to train
with the Brownies after learn
ing all about "Superfinish." He
was working for Midwest Abra-
sive which supplies the "stones"
to ChYysler.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
.ooddII Industries
On Detroit EXCHANGE

Trading in the common stock
of Woodall Industries will start on
the Detroit Stock Exchange Mon
day, Clark c. Mickey, executive
vice president and secretary. an
nounced Saturday. The stock has
a par value of 81 and 100000 au-
thorized shares are included in the
listing, although only 100000
shares are outstanding at the pres
ent time. The ticker symbol will
be WI.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Unemployment Drops

The number Of persons unem-
ployedl in the United States de-
clined 10 s.0S1 900 in November
from s.333.0O0 in October and
from 9.754 900 in November. 1889.
according 10 the Alexander Hanil-
ton Institute. Unemployment in
November was AZ the lowest level
since October. 1887.
Preliminary information indi-
Gates that there vas a further
decline in unemployment in De-
cember and il is possible that
unemployment last month reached
the lowest level since the recovery
from the depression began in
March. 1888.
While il is probable that there
has been some seasonal increase in
unemployment in January, the
prospect is that. In subsequent
months this gear. unemployment
viii drop below the lowest level
resrir-a fs- r0f0
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
ski and Gun CIub7

Noticed the other day that
among the new interpretations
filed with the state Is the Otsego
Ski Club, Inc. 1880 Penobscot
Building, $1,000.
What makes the item really
Noteworthy Is the fact that II
was filed by none other than
Alvsn Macauley Dr., assistant
vice president of the National
Bank of Detroit and one of the
states outstanding performers
on the glorified barrel slaves.
The thought struck us that IL
this enterprise proves success
full, he and Earl Failor might
also start n gun club (see the
pictures of the boys In action in
today's metropolitan section).
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Clears
SB5,4O4 in Year

Udylite Corporation and its
wholly-owned subsidiary, reported
for the year ended December 81
a net profit of $255,404 after de-
probation. interest, federal income
and excess profits taxes, etc. equal
after dividends on the ) per cent
preferred to date of retirement TO
81 cents a share on the common.
In the preceding year the COM
pany reported for the period of
Feb. 10. 1899. 10 Dec. 81, 1889. a
net profit of S133,745 or 3 cents a
share on the common.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
4 New York Banks
Clear Defense Loans
u. S. to Give Them Data by Phone
But Local Banks Can Participate"

NEW YORK Feb IA major to spur bank financing of
industrial activity resulting from the defense has
through our-bank clearing house New York
City, 1t will work cooperation with the defense advisory COM
Washington
The banks are Chase Bank National City Bank.
Guaranty Company and Bankers Trust Company They will
defense advisory commission by phone
who just received contract wants TO
money. the prospective borrower
will already have begun their credit check
result speeded bankable.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Bond Market
Quiet, Mixed;
Curb Decline:
Trend in Corporate
Issues DownwarC
as u. S. Liens Ga
International New. Service Wire


NEW YORK. Feb. 1.-The bond
market was a mixed and dull affair
today with the principal trend in
corporate, issues downward. Gov
ernments, however, were firm and
in some cases above last nights
close. Traders reported some Fed
eral Reserve Bank buying. Volume
was low.
High grade rails held unchanged
but some of the junior and specu-
lative liens eased u to - point.
Foreign obligations were dull.
In rails, leaders such as South
ern Pacific, Baltimore and Ohio
and Southern Railway were quiet
at levels fractionally below last
nights close.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
FURRY of Offerings
Finds Few Takers

Curb shares wilted as much as
a point today in a furry Of offer
ings which found few takers.
Utilities were somewhat firmer.
American Gas and Electric had an
early fractional gain. Electric
Bond and Share was unchanged at
3i2.
In industrials Sherwin Williams
backed down u. Jones e. Laugh
lin Steel lost ground. American
Cynamid B was off a.
Aviations drifted lower. includ-
ing Bell Aircraft and Brewster
Aeronautical.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Banks
Brokers
Business
By WARD SCHULTZ
Detroit Times Financial Editor

Detroit Times llhneiai Luisoi
The mayor Of the City Of De-
troit is a man of many accom-
pliShments. Among his more I'M
portant assets are a rare sense OF
hurnor and a ready wit which
often comes in very convenient.
Durine the last week we had
occasion 10 attend two meetings
at which Mayor Jefries was a
speaker.
At the first. the Bond Club
luncheon. his huuor and vii stood
him in good stead because II
seems he completely forgot that
he was scheduled 10 attend the
meeting and was reminded Of the
fact Just 10 minutes before start
ing time.
He carried il off in great shape,
too. However. were inclined 10
think there was TOO much grim
truth in one crack he made TO
call il funny.
He was telling Of the rosy out
look for the city during the COM
ing wear and particularly stressed
the prospect of increased earnings
for workers.
But maybe I'm addressing
the wrong group" he inter-
rupted himself. AT that l guess
the outlook for bond statesmen
isn't any too bright"
However" he added with a
grin, "Chrysler's building a nice
new tank plant here and there1l
he 10000 jobs open. So II you
can't get along selling bonds,
YOU can always build tanks"
But at the meeting in his office
to launch a drive to make the
auto show here THE national
show, some one suggested that
auto companies could tie in their
exhibits OF war materials, etc.
"The defense program has
been used rs an excuse to sell
everything from toothpaste TO
hair nets" said the mayor wryly.
Lets be different and just adj
NIT that this auto show II de-
signed to sell just autos and that
they are TO be sold only on
their own merits. 1t will be re-
freshing."
And on that, we're in hearty
agreement, Mr.. Mayor.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
A. & P. Votes $3.50
On Common Stock

NEW YORK. Feb. Great
Atlantic and Pacific Tea Company
of America has declared a dividend
of $3.50 on the common and the
regular quarterly dividend Of Sis
on the Z per cent preferred. both
payable February Is. to stock of
record February Z. This declara-
ton brings total common dividends
for the fiscal year ending February
IS to 81.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02

Detroiter Named to Head
Plymouth Coast Sales

Promotion of Harold B. Heber-
ling, former retail sales manager
of the Chrysler-Detroit factory
branch, to a new position as
Plymouth's Pacific coast sales
supervisor was announced today
by J. f. Bayne, Plymouth general
sales manager.
Prior to his work with the
Chrysler-Detroit Company, Heber-
ling served 10 years as manager
of the Oldsmobile branch retail
store in Detroit.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Slight Rise Noted
In Canadian LoddinQs

OTTAWA, Feb. canadian
carloadings in the week ended
January %, totaled 52,0S5 cars,
against 51,325 in the previous
week and 50,077 a year ago. From
the previous week the increase
was greater than seasonal.
Cumulative total TO january 25
was 1929 cars, compared with
1S4,926 in the similar period last
wear.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02
Sutherland Paper Co.
Years Net S813,926

CHICAGO, Feb. 1.-Sutherland
Paper Company reported for the
year ended December 81 a net
profit of $S13,926. after deprecia-
ton, federal income and excess
profits taxes, etc. equal to 1888
a share. against $723,190 or $2.52
a share in 1899 Net profit for
1899 included $50, 9S4 proceeds
from life insurance policy.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-02

they VIII be referred TO the Recon-
struction Finance Corporation.
This plan has been developed
with the approval of the RFC.
Chief Advantage
Chief advantage which the plan
offers is the speed by which a
manufacturer with a defense con-
tract will be able to find out
whether or not he can obtain bank
credit. 1t will mean a minimum
of delay. The plan also has the
advantage of putting four experts
on defense loans, one from each
of the four big banks, in a position
to decide on whether or not the
prospective credits are bankable.
One of the difficulties of financing
the defense program through the
banks is the fact that it provides
a new kind of loan and most of
the $4,000 banks throughout the
country have not had an oppor-
tunity to get an understanding of
how to handle these loans.
Although the four big banks
here will serve as a clearing house
for defense loans they will not
make all these loans themselves.
They will serve institutions all
over the country.