davidaulloa/AmericanStories huggingface dataset:
Milford chronicle., 1942-06-12
Rural Youth Of State To attend
AnnaaI Short Course At u. OfD.

in the annual candle lighting cere-
mony and will see members Of their
group inducted in the LINKS-an
honorary All club organization.
Local All club leaders will also be
cited for their service to All club
work in Delaware.
The Short Course during this
year of conflict is dedicated to as
sist these boys and girls to become
better trained and informed at a
time when rural youth are assum-
ing greatly increased responsible
ties in Delaware and throughout
the nation.
Milford chronicle., 1942-06-12
CONTINUED from first Page,

placed on preparing these rural
youth for their part in this time of
war. This will include informa-
ton and training in first-aid and
chemical warfare. food preserva-
ton and production, care and reno
yation of clothing, and farm home
and forest fire prevention and con-
troll.
During the evening sessions the
programs will feature inspirational
and recreational events.
On Friday evening, June 10, the
All club members will participate
Milford chronicle., 1942-06-12

Mrs. Allie Richards is visiting her
mother. Mrs. Alice MeGee and nep-
hew, Lloyd MeGee and family.
Miss Mary c. Evans, teacher in
the Seaford High School, is spend
ing her vacation with her parents,
Mr.. and Mrs. James M. Evans, since
the close of school.
We have been enjoying some fine
Strawberries, but due to the dry
weather there may be short crop.
Milford chronicle., 1942-06-12
MiIl1VOOd Methodist Church

10 a. m. Church school.
The Willing Workers Class will
meet at the home of Mr.. and Mrs.
Smoot on Friday evening, June IL.
The Church Aid will meet at the
community hall on Friday evening,
June 10.
WHiiamsviAe MefhOdid Church
p. m. Church school.
8 p. m. Children's Day program.
Come and enjoy this program with
us.
Evening star., 1942-01-01


Capital Transit Co., Washington
Gas Light Co. and the Potomac
Electric Power & Light Co., our
local utilities, have been stable for
years and today, with their generous
dividends, one can readily see why
the investor has been purchasing
stocks and bonds in these corpora
tions, thereby creating real activity
on the local exchange.
This is not only true Of our in.
stitution, but also Of all other busi-
ness enterprises of Washington
the banks, stores, etc.-many OF
whose stocks are listed on the
Washington Stock Exchange.
1t is difficult for me to understand
the timidity of the investor through
out the country toward investments.
During my 20 years in the invest
ment banking business, do not
believe there has been a greater
opportunity for any man or woman
to invest money in a safe and we'll
paying dividend stock than today.
The future of America has not
dimmed, it is only fear that has
clouded our vision. Suddenly the
cloud will lift and every one will be
investing, but the great opportunity
l see here today will have gone.
The members of the Washington
Stock Exchange extend the facilities
of the exchange to all the people Of
Washington.
Evening star., 1942-01-01

tices, it would be we'll for investors
to distrust the current recent pop
ularity of utility mortgage bonds
especially when annual interest
charge coverage over a period OF
years has been we'll below 20 times.
Either such bonds are overvalued
relatively to other industrial classi-
fications of a like grade, or utility
common stocks should sell far above
their present subcellar levels.
Defaulted railroad bonds, and the
when issued" securities to be de-
rived therefrom, were also favored
by Dame Fashion in 1941. While
banks and other institutions per-
sistently sold the junior bonds OF
the so-called marginal" railroads
almost regardless of present earn
ings and prices, many stock ex-
change houses specialized on de-
faulted railroad bonds as ideal
media through which to escape high
corporate taxes and still benefit
from the high traffic expected for
the long war period.
No doubt defaulted railroad bonds
were previously undervalued, but
one wonders if the same bullish
arguments might not be advanced
in favor of the junior bond Of still
solvent railroads.
Such bonds were the black sheep
of the 1941 bond market-although
earnings were the best since 1880
and financial and maturity prob
lens were largely resolved as a re-
suit. If, as now seems certain, ac-
tivity in the heavy goods industries
is to persist through a fairly long
war period. some of these $50, $40
and $50 railroad bonds, so friend
less in recent months, may be the
favorites of another year.
Evening star., 1942-01-01

be had on the shortest bonds. This
was the prelude to a slow decline
IN high-grade bond prices running
over a period of several years.
No Bear Market in Bonds.
When and if this pattern is re-
peated, there may be general recog-
milton of the fact that the low
coupon bonds now making up such
a large part of most investment
portfolios will decline in market
value.
It is not likely that such realiza-
ton will cause wholesale liquida-
ton or bear market" IN such
bonds. This is because, in the last
analysis, their prices are based on
the supply of funds for investment
and not on speculative considera-
tions.
The insurance companies recog-
nized long ago that the most sue
cessful bond investment policy In
the long run Is based on acceptance
of the prevailing return rather than
and "in-and-out" program. The
markets movement is so slow that
the loss of interest while waiting
for the change is greater than the
price differential.
With institutions leaving the
short-term field, there is good rea-
son to believe that individual in
vestors may take more interest than
they have in recent years, especially
in the field OF tax-exempts. Spaced
maturities may again assume i'm.
portance as an investment prin-
ciple, and many who have ignored
the bond market entirely for many
years will be attracted by the higher
rates.
One important consideration In
the outlook for interest rates in
l94l is that the practice Of Joy
riding" new issues for quick profit
is likely to become much less COM
mon. as are other means of aug
menting the income return by buy
ing and selling. The Government
has acted to cut down such specula-
tive practices on its own emissions,
and market conditions will make it
less certain that trading will prove
profitable. From the standpoint Of
underwriters, "out-the- window" Of
ferings will become less common,
salesmanship more necessary.
Evening star., 1942-01-01


mendous amount of money seeking
investment. and buying interests
will, it is believed, absorb all offer
ings, especially of high-grade bonds,
including Government.
The demand for increased bor-
rowing by the Government will be
partly Offset by great stimulation
to patriotic saving in order to
finance defense operations.
The amount of new capital going
into business has been surprisingly
small as compared with the past
decade. This has contributed
greatly to the large amount of cash
seeking investment.
Thus far the readjustments in the
bond market have been orderly.
The public probably does not, as yet,
realize what the war will cost and
the amount of borrowing that will
be necessary.
Evening star., 1942-01-01
Perpetual Head Cites
D. 6. Building Needs

The year 1941 was exceptionally
active in home building, Edward C.
Baltz, secretary, Perpetual Building
Association, and former president of
the United Savings & Loan League,
commented yesterday. Mortgage
loans made for the purpose OF new
home construction and for refinanc-
ing topped all previous records.
Naturally our expectations fol
1912 are tempered somewhat BY
priorities and the extremely low cell
ing for new residential construc-
ton" said Mr.. BaltZ.
I'VE hope" Mr.. Baltiz added. "tha'
some exceptions will be made in the
latter connection, as Washington l.
literally bulging with new residents
and desirable housing should be
made available to these people. wht
are here in the interest of national
defense"
Evening star., 1942-01-01
Control Purse STRINGS

COLUMBIA, Mo, Jan. (SpeciaD
American women control 10 pei
cent of ell private wealth. and theiI
collective holdings exceed s2l0,000,-
100000, DR.. James Madison Wood
president of Stephens College, re-
ports. Women not only own mos
of the money, but they spend it, too
They buy 80 per cent of all food, 9;
per cent of all furniture, rs per cen
of all clothing, even So per cent o.
mems ties.
Evening star., 1942-01-01

about $4,000 900 shares, lowest since
1922, and a big drop from the 49,
100000 shares traded in 1910.
New Conditions Met.
George P. Rea, curb president,
while noting the slump in volume,
said:
AT the same time, this year has
seen more constructive effort than
ever before to adapt the machinery
of the exchanges and Of the invest
ment business to new conditions.
Understanding of the securities
business and confidence in it are
essential if our economic system Is
to survive
THE securities business is adjust
ing itself to changing circumstances.
War alone cannot crush it. What
it must have is the intelligent sup
port OF the people"
Evening star., 1942-01-01
Firming Of Interest
Rates Expected in
War Period
Only Slight Upturn
Likely to Be Allowed
By Government
BY Cambridge Associates.

BY Cambridge Associates.
Interest rates may not increase
much in 1912, but the average in
vestor is by now pretty sure that
they have seen their lows. For the
first time in years the demand side
Of the supply demand balance is
shrinking rapidly and In the field
OF short-term investments 1t has
already had a profound effect on
prices.
In the summer OF 1s41 the absurd
scale of yields, according to maturity
dates, reached a peak Of fantasy.
Municipal bonds OF AAA grade pro-
vided yield of approximately 2 per
cent, If the buyer was satisfied with
a promise of payment in 80 years,
but II he chose to buy an obligation
of the same quality coming due in
IL months time his return dwindled
to a mere one-tenth Of per cent.
Shortly after this the biggest buyers
of short-term securities were practi-
cally removed from the market by
0D the increase in reserve require
ments, and CD $1,750, 900 900 In
crease in bank loans and a present
and prospective investment by the
banks in Government securities
many times that figure. At the
years end one-year bonds found
few buyers below three-tenths Of
/ per cent.
Trend May Continue.
Prospective early use of some OF
the huge reserves Of idle capital
makes it hardly worthwhile to ac-
cept such niggardly returns. And
it is a certainty that when Federal
expenditures reach the level of $685.
900 100000 per year contemplated
under present plans, great deal Of
this idle capital will have found use
full employment. At the same time
the capacity Of the Government to
restrict an overall increase in interest
rates is SO potent, and its stake SO
large, that anything more than q
slight firming Of long-term rates
would be surprising So by next
December we may witness a bond
market in which the maturity date
of bonds is much less important
than their margin of protection.
1t is interesting to note that such
shift took place in the early 1900s
Furthermore, that it was followed
by complete reversal of the scale,
wherein the highest rates were to
Evening star., 1942-01-01
Loon Groups to Aid
u. S. Bond Cumpoign

Rudolph w. Santelmann, secretary
Of the Metropolis Building Associa-
ton, said yesterday that the building
and loan associations hope to reg
lister q sharp increase in Defense
bond sales to patrons during the
coming year. With this in view
loan leaders are keeping in the
closest possible touch with the
Treasury.
During the year to come every
association will do everything pos
sible to be of service in the national
emergency.
Evening star., 1942-01-01
Curb Exchange Sales
AT .19-Year Low;
Prices Stable
Absence Of Ponieky
Liquidation Noted
At Sturt of War

BY the Associated Press.
NEW YORK, Jan. 1.-Trading in
the New York Curb Exchange was
the smallest in 19 years in 1941, but
the market maintained compare
tive stability in the face Of the series
Of disturbing crises eliminating In
the American involvement in war.
Price trends followed closely those
in the New York Stock Exchange
declining intermittently during the
early months Of the year, but turn
ing upward in June and expert
encing the best rise of the year in
July. as it appeared the Nazi wal
machine had met an amazingly
formidable foe in Russia.
Recovery Short-Lived.
This rise. bringing prices back tc
around the January levels, was
short lived, however, as the NaZ
legions soon seemed to be overcom-
ing Russian resistance, and wal
clouds loomed darker in the Fal
East. Prices slipped fairly steadily
through the autumn, and went into
a pronounced slump with the out
break of war In the Pacific in De.
cember.
There was an absence of panicky
liquidation, however, and no specia
measures to control trading were re-
quired. The slump in prices, on the
whole, brought them to but a little
under the lows Of the summer Of
1910, when the fall Of France brought
sharp realization of the full might
of the Nazi war machine.
The curb suffered with securitie:
markets generally in volume of bus
iness, as mounting taxes and wal
costs chilled both speculative anc
investment impulses. Volume wa
Evening star., 1942-01-01

vulnerable posi-
tionS.
Money Is q
very timid thing
and the first i'm
p &C t Of any
great change is
usually to check
buying interest
Markets gener-
a lily, however,
have thus faI
shown far less
n e r V o u S n e SIS
than at the out
break of the last
World War.
Evening star., 1942-01-01

a C I ! v I y ! n
Wa S h / n g t on,
three new list
ings and the op-
timistic feeling
of the public
toward Wash
ington industry
and it's future.
In studying
the earning re-
ports of our local
corporations the
i n v e ST tor can
readily see that
pros perity is
with us. The
earnings Of the
Evening star., 1942-01-01
Market Shows Unusual Stability in Face Of War Shocks
Better Profits Spur
Activity on D. {.
Stock Market
Expansion in Utility
Earnings Cited by
Exchange Chief
BY GEORGE NJ. FERRIS,

President WASHINGTON Stock Exchange and
Investment Firm Partner.
Activity on the Washington Stock
Exchange has increased during the
year Of 1941 over that of 1910. This
has been brought about, 1t is thought
by Washington brokers, because Of
the increase in the general business
Evening star., 1942-01-01
Ca|mness Of Market
Hailed by Chief Of
D. T.. Bond Club
FoIeer Points to Huge
Investment Funds as
Stobi|izing Factor
ByJ. CLIFFORD FOLGER,

ny J. NLII O1kD OINLH,
President Bond Club OF Washington and
Investment Firm Partner.
The sudden outbreak of war had
a pronounced effect on the bond
market Having reached all-time
high prices, bonds were naturally in
Evening star., 1942-09-18
Pipeline 10 Be Ready
In January, Jones Saws
By the Associated Press

BY the Associated Press.
LITTLE ROCK, Ark, Sept. 49,
Crude oil will be flowing through the
550-mile petroleum pipeline from
Longview. Tex, to Norris City, ILL.,,
by January to alleviate a fuel
shortage in Eastern States, w. Alton
Jones, president OF the War Emer-
gency Pipelines, Inc. said today.
While the line will average about
100000 barrels daily, Mr.. Jones re-
ported, the rate of flow to the East
ern Seaboard will be only about
125 900 to 175,00O barrels day unless
another pipeline from Illinois to the
coast is completed.
The WEP head said plans were in
the making for the Illinois, East
pipeline, but the project was being
held up because of the steel short
age.
I'VE do not think the Texas -Illi-
nois pipeline will solve the problem, !"
Mr.. Jones declared. "but it will help
to shorten the tank car haul from
Southwestern oil producing States"
Mr.. Jones, who also is president of
Cities Service Oil Co., was in Little
Rock with Deputy Petroleum Co.
ordinator Ralp K. Davies and Sam
uel H. Husbands, president of De-
tense Plant Corp, to inspect pipeline
construction work in this area.
Evening star., 1942-09-18
Is Bund Chiefs Trial
On Draft Conspiracy
Opens in New York
Prosecutor Says Kunze
Ordered Leaders to
Encourage Evosion
BY the Associated Press.

By the Associated Press.
NEW YORK, Sept. 18.-The Gov
ernmeIt charged In its opening
statement before jury Of six men
and six women today that Gerhard
Wilhelm Kunze, former national
leader of the German American
Bund, directed an official order to
all bundists telling them to refuse to
serve in the Army under selective
service.
The assertion was made by How
ard F. Corcoran, assistant Federal
attorney, at the opening of the
trial of Is former national and dis
trict leaders of the bund accused of
conspiracy to counsel members to
evade the draft.
Kunze Under Sentence.
Kunze, sentenced recently at
Hartford, Conn, to Is years in
prison as Nazi spy, is one of the
defendants in the trial.
Mr.. Corcoran charged that the
bund opposed the draft law before
its passage and made its feelings
known through its official newspa-
per, Free America" at membership
meetings and by word of mouth.
After the laws passage, Mr.. Cor
coran continued, Kunze sent to all
leaders Command No. 81" urging
all members to refuse to serve until
this law and all other laws of the
country or the State, etc, which re-
strict the citizenship rights of bund
members are repealed"
Defense Objection Fails.
Leo Fennelly, a defense attorney,
objected to Mr.. Corcoran's detailed
tracing of the activities and history
of the bund as going "far afield''
and sought unsuccessfully for with
drawal of the jurors.
Eight Catholics, three Protestants
and a delicatessen dealers Jewish
wife, who became a juror because
defense challenges had been ex-
hausted, comprise the jury.
Asked by Judge Alvin D, Barks-
dale if she wished to serve next
Monday-the Jewish holiday of Yom
Kippur - the Jewish member eX-
pressed a desire not to and the court
ordered recess for that day.
Evening star., 1942-09-18
Swope, Young End Retirement
To Reioin General Electric

In addition to resigning as presi-
dent of G. E., Mr.. Wilson announced
severance from all other affiliates of
the utility and said he would devote
his full time to his war production
position.
"The question of salary has not
been mentioned" Mr.. Wilson said.
Asked if he was to become a dol
lar-a-year" man, he said that he did
not believe that to be so but that
published stories to that effect
might have been predicated on his
obtaining leave of absence from
G. E.
Alrady on the Job.
Mr. Swope, when asked when he
expected to resume in the post he
relinquished to Mr.. Wilson in 1910,
said Il am already working"
Mr.. Wilson said he would not
move his family to Washington.
II have house In Scarsdale," he
said, "and you don't get rid Of them
that quickly these days"
Mr.. Wilson has been with General
Electric since 1918 when the then
Sprague Electric Co. was absorbed
by q. E. He was born IN New York.
Evening star., 1942-09-18
Earlier Story on Page Ally

NLdIHcE StOTy on rage ALI
By the Associated Press.
NEW YORK, Sept. 18.-Owen D.
Young and Gerard Swope, former
chairman and president, respec-
lively, of General Electric Co., today
were called from retirement after
the resignation of Charles E. Wilson,
the present president, who accepted
q position as vice chairman of the
War Production Board.
Philip D. Reed, present chairman
of the board of General Electric, is
on leave of absence in the Govern
ment service and Mr.. Young will
serve as acting chairman in his
place.
Swope to Be President.
Mr.. Swope will take over his old
duties as president of the company,
a post which he held for many years
prior to his retirement along with
Mr.. Young.
In an interview today Mr.. Wilson
said:
1T took me 40 years to climb to
the presidency Of G. E. and It took
me 40 seconds to lose It."
Evening star., 1942-09-18
Kaiser Reported
Getting Contract
ForThreeP|anes
Howard Hughes Plant
Will Build Cargo
Croft, McNory Says
BY the Associated Press.

BY the Associated Press.
Senator McNary, Republican,
of Oregon said he was informed
today the War Production Board
and armed forces had agreed to
let a contract to Henry J. Kaiser,
West Coast shipbuilder, for con-
struction of three mammoth
cargo-carrying airplanes costing
a total of $18,OO0,00O.
Senator McNary said it was his
understanding the three ships would
be constructed in the California
plant of Howard Hughes, airplane
designer and associate of Mr.. Kaiser.
The contract covering the three
planes, the Senator said. would be in
the nature of a trial to determine
the feasibility of constructing such
ships on mass production basis.
No Profit on pilot" Planes.
According to Senator McNary's in
formation, Mr.. Kaiser would con-
struct the first three ships without
any profit to himself or associates.
Mr.. Kaiser was understood to have
been instructed to draft plans for a
large factory and to submit esti-
mates and data on it's possible loca-
ton for use if the first three ships
turned out satisfactorily.
Mr.. Kaiser has urged that he be
permitted to construct a large fleet
OF cargo-carrying planes, contending
that he could obtain the materials
and necessary technical aid without
disturbing the present production
program for bombers and fighting
planes.
18 Months to Build.
K. F. Ridley, engineer for Mr..
Hughes, estimated it would take ap-
proximately 18 months to iron out
engineering problems and construct
the three pilot" planes. He said
that If the planes proved satisfac-
tory. they could be placed in pro-
duction 10 months after compile
ton Of the prototypes.
Mr.. Ridley said the Hughes staff
would handle all of the engineering
and that the early construction and
sub-assembly work would be done
at the Hughes plant near Los An
geles. The planes are so large, he
added, that it will be necessary to
remove the parts elsewhere for as
sembly.
The plans now, Mr.. Ridley con-
tinued. are in the early engineering
state. Considerable work remains
to be done in studying stresses and
other problems involved. Mr.. Ridley
came to Washington to explain the
plans of the planes to Mr.. Nelson
and other Government officials.
Evening star., 1942-09-18
Speedy Allied Victory
Necessary, Hoare Says
BY the Associated Press.

Iy thc ASSOCidtcu HTeSS.
LONDON, Sept. 1S.-Sir Samuel
Hoare, British Ambassador to Spain
said today that the people of Europe
are dominated by fear that al
though the Allies may win the war
our victory will take so long that
European civilization will crash in
the interval"
Addressing a Conservative Party
group, Sir Samuel conceded that
defeats had shaken our prestige. -
nd he asserted that even Britain S
amazing transition to a war basis
had its drawbacks because it led
our friends in Europe" to believe
that the country was settling down
for a prolonged war.
He emphasized that the United
Nations must seek speedy victory by
concentrating their forces swiftly on
chosen strategic point. He added
that dispersal of air strength is par
ticularly disastrous.
Evening star., 1942-09-18
Louis and Conn
May Pay Debts
Out of Receipts
BY the Associated Press.

NEW YORK, Sept. 1S.-sergt
Joe Louis and Pvt. Billy Conn will
be permitted to pay private debts
totaling $135,451.53 from the re-
ceipts Of their heavyweight cham
pionship fight for the Army Emer-
gency Relief Fund at the Yankee
Stadium the afternoon Of Octo-
Der IL.
The Sports Writers Committee in
charge of the fight announced to-
day that the War Department had
agreed for Louis to meet private OBJ
legations of $l00,951 SO and Conn of
$34,500 instead of fighting under the
original plan suggested by the War
Department. Under that plan, nc
payments would be made to any
private group of persons.
The committee said Louis owed
the Goth Century Sporting Club
SIS, ,805 so and John Roxborough, one
of his managers, SAL, 146.03. Conn's
obligation of $34,500 also is to the
goth Century Sporting Club, OF
which Mike Jacobs is promoter.