davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Volume Still in N. Y.

Despite all Washington's ar
tificial efforts to build up other
exchanges at the expense of
those in New York. the SEC
records that the New York
Stock and Curb Exchanges are
doing 93la per cent of all stock
transactions in the country and
all but the slenderest fraction
of ! per cent of bond sales on
all exchanges. This shows that
Washington, with all its arbi-
trary powers. cannot force our
national financial funcuoning
into unnatural channels. cannot
cause water to run uphill.
The attempt should be aban-
doned.
Instead of continuous carping
and curbing, the SEC should rec
ognize the wisdom of inaugural
ing a policy of cooperation with
the nations financial metropolis.
1t should encourage. not dis
courage, revival of a broad,
healthy, vigorous market for
stocks and bonds, since. after
all, a steady inflow of new cap
ital is essential TO steady ex-
pansion of employment. Appal-
ling government expenditures
necessarily must be temporary.
Reliance for permanent prosper
ity must be placed on voluntary
investment, on invester-financed
enterprise.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Penn. Reports
Gain in Income

WASHINGTON, March 1. -
Pennsylvania Railroad reports for
January net income after taxes
and charges of S2.962.S94, against
81, 500,233 for January, 1910. NJ.
w. Clement. president. said here.
lement estimated Pennsyl-
vania's gross revenues for the
period February l to February %
at S31 $4,000. an increase of 1877
per cent over the same period last
year. Freight revenues for the
first % days of February were
placed at S24.169, 900, an increase
of 15.7 per cent over last year,
while passenger revenue was esti-
mated at $3.50. 900. a gain of n
per cent.
The roads surplus, available for
dividends. for January was 81. 164,-
1874, against S1,721, 76S for -Janu-
AIRY, 1910, according to Clement.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Hoover Ball Nets
$4S2,531 in 40

Hoover Ball and Bearing Com
pany for the year ended December
81 shows a net profit OF 1882 .531
after interest. depreciation, fedora
income taxes. ETC., equal to $3.4o q
share on 139.473 shares of capita
stock outstanding.
This compares with a net profit
of S37l,593 or S2.66 a share in
1899.
Current assets as of December
81 last. including 1928, 596 cash and
marketable securities amounted Ia
S1.6l6.426. and current liabilities
were SASS SIS As compared with
Sl7S,616 cash and marketable Sc.
curities. $i.149.705 current assets
and $500. 1S5 current liabilities a
year earlier. Inventories on the
latest date were 81 ,002 1886 against
S76l. 952 in 1889.
Walter c. Mack. chairman OF
the board, reports that the CON-
panys operations stimulated to a
considerable degree through the
manufacture Of balls and bearings
under the national defense pro
gram are at the highest level in
many years.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Copper Active

The demand for copper con-
tinues very active. and stocks
have declined quite sharply. so
that at the end of January they
amounted TO only about a single
months supply. Fabricators have
orders for copper products which
far exceed their supplies. But
the prices of primary copper
and of No. ! scrap are pegged
at II cents and 10i2 cents. re-
spectively. OF course, the sup
plies have to be virtually
prorated under these circum-
stances. Meanwhile, the smelter
market is 1919 cents and the
so-called outside market 1874 to
12is cents.
Plainly the tendency is up
ward and is restrained only by
considerable collision. The chief
means through which the gov
eminent puts on pressure is its
resort TO imports of South Amer
ican copper.
The government can buy such
copper AT 10 cents and sell-it
here p cents, losing little ex-
cept 2 cents of its Accent tariff.
Already 5000 tons are said TO
" have been brought into the coun-
try out of a total Of 200, 900 tons
purchased.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Forbes
Investors
BIudeeoned;
Insurance Hit
BY b. c. FORBES

Dwindling. dwindling dwin-
ding. That's the fate Detailing
security transactions. Washing
ton. which deliberately set out
to bring about stock market
stagnation. should therefore be
happy. But such a condition
does not make for national
progress, robustness. prosperity.
II discourages furnishing of cap
ital by investors for job-pro-
viding enterprises.
Dealings on the New York
Stock Exchange so far this year
are little better than 1900. 900
shares. contrasted with approx
mately 100000 a year ago.
when business was also dull. This
is a shrinkage of "a per cent.
The SEC reports that trans
actions on all security exchanges
in January. measured in dollars.
fell fully 16 per cent below the
total for the previous January.
Volume of stock sales fell more
than 20 per cent under the De-
cember total.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Set Committee
In Erie P Ian

CLEVELAND. March I. - A
fve-man provisional committee Of
reorganization managers has beer
named for guiding Erie Railroad
through various steps of its re-
organization.
The committee. appointed in &C.
cordance with terms of the re-
organization plan and functioning
Professionally until the plan is de-
clared effective by Federal Court
here. includes: II. S. Sturgis. vice
president of the First National
Bank of New York; Harry c.
Hagerty. treasurer of Metropoli-
tan Life Insurance Company; John
Stedman. vice president of Pru-
Dental Insurance Company: John
X. Thompson. Erie. vice president,
and Frank c. Wright, a repre-
sentative of Reco nstructio on
Finance Corporation.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Assets at Work

President Thomas I. Parkin-
son of the Equitable Life proves
that it isn't true that insurance
money isn't available for any
small borrowers.
Actually" he declares, "the
assets of life insurance COM
panies are actively at work In
every state Of the nation. help
ing to finance industry and small
business. agriculture, home
building, railroads and the needs
of government.
Owners of homes, farms and
other real estate received an
average Of $1,000. 900 a day in
financing aid from life insurance
last year, a total of approxi-
mateIy $50, 000, 900. As to small
business, the Equitable Society
itself had $55,273, 900 invested In
small business enterprises In 42
states from coast to coast. the
average loan being for S73,500
at the end Of 1940."
Before gobbling up a country.
Hitler always contrived to
trump up some grievance
against it. no matter how un-
founded. Is it that Washington
aspires to engineer a similar
course towards Americas life
insurance industry? Many ru-
mors to that effect have ema-
mated from Washington.
Copyright, 1e4i. by B. c. Forbes
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
6-Point Program

Besides, he proposed the sub
joined six-point program for the
government:
Make IT a basic policy to
avoid any activity which will
compete with private enterprise.
Give full protection to the
employer as well as to the en-
ploye in labor disputes which
require government action in
their adjustment.
3.-Remove insofar as possible
the burden of enterprise of ex-
cessive numbers of reports or
excessive volume of information
required.
4.-Remove restrictions and
distractions. local, state, or
federal. to the free interchange
of goods and services.
5.-Remove any restrictions
as to expansion of enterprise
and encourage all expansion
that is in the public interest.
6.-Provide the leadership
necessary to awaken all citizens
from complacency and indiffer-
ence. and to stimulate public
enthusiasm toward cooperation
in advancing the defense pro-
gram with utmost speed.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Retail
Volume
Expands

Continued cold weather which
retarded retail sales early in the
week was offset by end-of-month
promotions. and volume for the
week as a whole was even 10
slightly higher than the preceding
seven-day period, says Dun &
Bradstreet, Inc.
Despite one less shopping day
than in February, 1910. sales gains
ranging from per cent TO II per
cent were reported for the month
by department stores and apparel
shops With the average being 10
per cent TO IL per cent. Retailers
of foodstuffs and drugs, on the
other hand. had increases of only
5 per cent to 8 per cent over
February. 1910.
Wholesale activity moved ahead
slightly over the preceding week
and for the month as a whole
increases of between 5 per cent
and 10 per cent were recorded
over the corresponding month last
year.
Advance orders continue Ia
come in in considerable quantity
and the margin of increase in sales
over 1910 is expected TO broaden
with the coming OF Spring.
Retail collections are about even
with last year. while wholesalers
are several points better.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Demand Pay Boost

On the other hand. the tension
IN the market for steel is in
creasing. steel labor is demand
ing higher wages. and the gov
eminent Is trying TO hold steel
prices down. II is hardly possi-
ole that both can have their
way.
In this connection. il is to be
noted that the price of scrap has
recently tended upward. While
markets have not been uniform.
the rising tendency seems to be
prevalent. and tight situation
IN scrap IS apparent in some
areas. II the scrap price is held
down at one point. IL goes up at
another. If it is held down for
some grades, other grades are
bid up (for example, ast-iron
borings).
II seems that the government
must either confiscaie and con-
troll the supply or bid for il.
This would mean certainly a
rise in the price al Pittsburgh.
so as 10 restore something like
the old differential.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Detroit Produce

APPLEs-MichiEan bu. crates u q No
I. in. min. Delicious, 81 sod so; far
' No h se. snss sss g. o. i:r
81 IS: Jonathans. AZ in. min. soe o 81 10
sut,ons IA in. min. 81; Shows. unelass,
AyocApos-caiitornia fats. 1880.
NEUTRALITY-SUSPICIOUS. Offered.
BEANs-very light supply; bu. hampers
BI.ss vsien,ines. fair TO generally good
BEETs-Texas y crates. 81 .I5n14o.
Arizona. 50 Is: California. s77563.
vo cAs n.ii,n Ans,i.. er:,s: q RUN M
= crates. 81. toal.t5.
cARRoTs-Los Angeles crates. q doI.
Arizona. So +caAfeFnis. 81 soc IS or
sl3 sss g t s aSssy 1 eIs.. T.r sc..a
cxuLIFLowER-csnf pony crates
LIS and larger, Si.7o61.so.
GhIaRS ee. l.1.: p.as sn Ga ao.:.
trimmed tops, 81 dozen. Pascal 81 so
Is:ineh erai.. trimmed tops. Golden Heart
J 50 10 dozen. s3.sods7s
LETTucE-Los Angeles crates. Ieeberi
TYPE. Arilons, Yuma. t-dof 81 500 y
s 30. do1 sasoo27'' ,.i. eSsIity 81 q q =
; 30: imperial v.n.y. Is. 1850 a so
fair quality. s7o77s: don. s2.so b 2 IS
fair quality, s7F725
LEAF LETTUcE-Hothouse lob. bss
ke,s Miehis.n. Use; Ohio. sse.
tveet spanish. 3.lneh and larger, Utah
81 50 . so. Michigan. eo-7oS 2-ineh an
lsrs.r, y, 8: No. !. ysliows. 500 Use
PEPPERS - iY-bu crates. California
Wonders, Mexico. ordinary to fair quality
s703. Florida, S4tt75. few best -. SO
choice s25ses; Ruby Kings. fancy, 81
PoTkToEs~Ioo.lb sacks. U. s. No. !
Ru,set Burbsnks. idaho. 7s6is5
mostly si.seai.ss: No. =, $40; io-i
sacks. 40 o ale; various varieties, Maine
i00-lb sacks. 81. 40d I. so; 13-lb sacks. q
p2ic; Michigan, 1oo-Ib sacks. U. q. No
l. Russets, sf.foaI.l5: chirpewas si.75
cobnlers. 81 756l.3o: Green Mountains
ioe-is. sacks. 81 7s6 f.ss: Florida, bu No
! Trtumphs. 81 50 n f.s5.
HUBARB-Michisan dollhouse. SOL
cases. choice. h.7s12.zs; fancy, 81. rs q
3.2s: extra fancy. S3.7sa3.7s.
RUrABACAs - Canada, vaxed. SOIL
sacks. $50 Toe.
sHALLoTs-Louisian barrels, ae-do
bchs. t11; crates. S don. Sass.
-sPINACH-1exas- bu baskets. ssvo
type, 75a zoe.
sTRAwBERRIEs-ro 5s-pint crate
Missionaries ss.501s
SWEET pOTAToES-Bu crates, u. q
No. !. Porto Ricans. Texas 81: No z
$50 81 soeiss: Tennessee su hampers. Name
l.63: Arkansas bu crates. Porto Ricans
Si.25.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Staples Trend
Held Definitely
Upward
BY LEWIS HANEY

Professor Of Economics. N. Y. University
A careful examination OF va
rious measurements of COM
modity-price trends shows con-
clusively that the general tend
ency has been upward since
the middle of August last year,
if the moderate dip of last De-
eember be excluded. II may be
aid without any qualification
that the trend has been dis
IInct1y upward since middle
cember. Recently both sensitive
commodities and future markets
have pointed upward. The main
factor in the latest phase of this
tendency has been the strength
of import commodities"-tin,
rubber. silk, sugar, vegetable
oils. etc; but increased labor
costs promise to be another
cause.
1t is to be noted that the cost
of living has been creeping
gradually upward. Recently such
different items as rugs and re-
frigerators have been marked
UP substantially in price. Hogs
have risen, as the hog population
has been reduced on account of
the relatively high price of corn.
In the refrigeration industry,
shortages of raw materials such
as aluminium. zinc and steel are
reported 10 have become acute.
This represents a general con-
dition which is likely to be in
tensified as supplies are ra-
toned in the interest of feed
ing the Vaccinations industries
at the expense OF the non-essen-
tial industries.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Hint Price Rise

In this connection. however,
II may be worth noting that it
is quite possible that the foreign
price may be raised. 1t is even
barely possible that the govern
ment would not fight such a rise
very hard. as it has shown
considerable desire to subsidize
so-called hemisphere solidar-
ity." In this case. copper would
merely join the rise of various
import commodities which have
tended TO touch off the initiation
airy rise.
II, is interesting to observe
that recently there has been
more discussion of the desira-
bility of having a higher price
for copper. in order to bring out
more scrap and a larger volume
of production from high-cost
mines and smelters.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
M. S. RukeySer:


When the power of govern
ment is enlisted to raise the
wages or shorten the hours of
labor, who pays the bill?
Under ideal conditions, II the
higher hourly wage rate is off,
set in rising efficiency. then
there is no added cost.
In such circumstances. the
customers of the product and
the owners who make it merely
step aside, and assign all the
fruits of improving technology
to the workers.
However, II hourly wage rates
are lifted arbitrarily without
reference to heightened eff
cheney, then the cost of produc-
ton Is increased.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
On the Record
Mother of 10 Gets Birth
Certificates for z

BY a stroke of his pen, Circuit
Judge Adolph F. Marschner today
had established birth records for
seven of the 10 children of Mrs.
Anna Zreliak. 81, of 1865 Guthrie
avenue, ending months of at
ten1pts to obtain birth certificates
from Pennsylvania coal mining
villages.
Thanked by her seven children,
from 10 to SO years old, Mrs. IRE
LAX told Judge Marschner all the
births had been attended by coal
company physicians but apparently
never recorded. She said all of the
children had difficulty in obtain
ing employment without certi-
ficates.
The children are Mary. 80; John,
Sc; Steven, 81; Agnes. &c; Pauline,
"a; Emil. 81 and Aloysius. 10,
Burton, 81. was unable TO appear
because of illness. Two younger
children's births were registered.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Termed Dangerous

c. Oliver Wellington. presi-
dent, American Institute of
Accountants, in dealing with the
question of who pays for social
advances forced by law, pointed
out in a recent address:
Reduction Of hours In more
dangerous than increased wages.
We must, however, realize that
increased wages, caused by pay
ing time and one-half for over
40 hours or any other limit set
by law, will be paid by all Of
us and not by tho employer.
Tho employer merely increases
his costs and his prices accord
ingIy, and we pay the increases
In what we buy or we pay
through taxation for the In
creased prices Of the products
which the government buys"
In envisaging how to better
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Livestock Markets

PITTSBURGH. Feb IS - QNsD -
CATTLE = Receipts 50: steady; steers.
choice, si2n so; medium, good, So 50 d
good $50 D $50; common. s6q730: cows,
medium, good. Ss17: Gamers and cutters
"a 50p6 bulls. good. choice Ssqe; com
mon. medium. ssh so
lbs, ssGs.25; fs0-220 his. ss.25qstO,
220-25o lbs, $3.50; 250-2eo lbs. 81 50
rs; l0o-l5o lbs, ssq7.25. roughs, $50
SHEEP = Receipts. 100: steady: choice
lambs. Sii. 5oT lf.75: medium, good. SO sd
n 10. 50; common lambs. S7gs: ewes, So so
p $50; wethers. SAC 50
CALVES = Receipts. So; steady: good
choice, si3T1f medium, SlOG IL: cuIls
and common, SIS 5Od75O
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
.Strdssburger Helps
Uno(tupied France

NEW YORK. March 1.-UNS)
Ralph Beaver Strassburger. mil
lionaire American philanthropist,
has made personal financial ar
rangements through Marshal Pc
tain to feed and care for an undis-
closed number of villages in I'M
occupied France, it was revealed
today.
VICHY, March 1.-INS)-A 20
per cent reduction in the daily
bre a d ration for unoccupied
France was announced today. The
reduction will cut the present ra-
ton of $50 grams to $50 grams.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Eureka Reduces
Loss 10 S34,465

Eureka Vacuum Cleaner Com
pany for the quarter ended Janu-
AIRY 81, second quarter in the fiscal
year, shows a net loss of S34 ,465
after depreciation and other
charges. This compares with a
net loss of S90.258 in the like
period a year ago.
The net loss for the six months
ended January 81 was sos, 1872,
against S235.66 in the correspond
ing period last year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
7 Bandits Get $1,000
From Bar MANAGER

Holdup squad detectives today
sought two bandits who obtained
$500 from Frank Lewis. beer
garden manager. as he came out
of a branch bank at 6465 East
Jefferson avenue. The bandits
made a getaway in a car which
was later reported stolen from
Irwin Broadway of 1851 Kentucky
avenue. Lewis had obtained the
money to cash workncn's checks
in Franks Beer Garden, at 6S01
East Jefferson avenue.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Mother Saves Two,
Fails 10 Halt Fire

Nearly trapped by flames from
an oil stove fire in her apartment
at $500 Posen avenue, Mrs. Bonita
Andrews carried her two children.
Marwood, s. and Margie Jane, a.
to safety. She then attempted to
put out the blaze but was driven
back by the smoke and heat. Be-
cause the building is close to other
wooden houses the fire alarm
brought u pieces of equipment to
the scene.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
.2-Ddy Bride, Husband
Hurt in Auto Crash

Mrs. Shirley Morse, 20. of Des
PLANES. Ill, bride of two days, to-
day was released from Receiving
Hospital after doctors used IS
stitches to close wounds in her
face caused when her husbands
car collided with one driven by
Edward Blankenstein, 26, of 2411
Cabot avenue. at West Lafayette
avenue and Eighteenth street.
Blankenstein was jailed on a reck-
less driving charge. The husband.
John, 81, also received cuts. The
Morse couple were spending their
honeymoon with the husband S
uncle. Howard Huff of 7251 Cart
ner avenue.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Mack Truck Inc.
Profit TrebIed

NEW YORK, March MACK
Trucks, Inc. and its subsidiaries
reports 1910 net profit of Sl,s05,-
s2l. equal to S3.02 a share, against
$685.. 9S7. or S1.14 a share in 1899
No provision was necessary. it is
stated. for excess profits tax.
Backlog at December 81 was the
largest in the company's history
Indicated earnings for the final
three months of last year were
S637 $3.50. equal TO S1.07 a share
compared with S437.79 or 70
cents a share in the corresponding
quarter of 1899 and 1888. $50. or Sc
cents share in the September
quarter of 1910.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Reeoup Higher Costs

If the manufacturer Is to re-
main in business, he must In due
course recoup higher costs in
increased selling prices.
In such circumstances, arbi-
trarily increased costs are paid
for by all buyers Of goods who
are not themselves in favored
lines whose pay has similarly
been raised by government fiat.
In other words, arbitrary
raising Of costs and selling
prices in industry is paid for in
the reduced exchange value of
the products of the hours of Ia
Dor of men in agriculture, in the
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-01
Latest Absurdi+y

The latest proposal made at
Washington concerning compul-
sorry investment in stocks is the
most absurd OF all--and that is
saying much. SEC functionaries
want law passed to compel our
life insurance companies to risk
their funds in shares Of new and
wholly improved ventures, espe-
cially of minor size.
Nothing could be more specu-
lative. 1t would. bluntly, amount
simply to gambling with the
funds of life insurance policy
holders. The fact is that various
states. very appropriately, pro-
hibit using insurance money to
buy common stocks.
II bureaucrats were TO point
out instances where trustees,
directors. arrangements of in
surance companies INDUCED in
undue risk-taking, criticism
would be thoroughly warranted.
But these Washington up
starts are lecturing the nations
leading men of affairs identified
with the management and direc-
torates of strong insurance COM
panies for having consistently
followed conservative invest
ment policies. for having scru-
pulously safeguarded the savings
intrusted to them by $1,000, 900
pobcyholders.
Could anything be more ludi-
crous. more unbusinesslike. more
illustrative of the half-baked
notions which have obsessed
little minds at Washington?