davidaulloa/AmericanStories huggingface dataset:
Evening star., 1949-07-24
$4,000 Share Sale
orc. &S. Sets New
Sinq|e Block Record
By William D. Horgon
Assoeiotsd Press Financial Writer

NEW YORK, July 23.-Two of
the biggest deals on record added
polish this week to Wall Streets
reputation as the financial capital
of the world.
On Tuesday startled stock
traders saw the ticker tape record
a sale of 350,O00 shares of Com
monwealth g. Southern Corp.
common at a price of $3.50 a
share. Not much money was in
volved-a mere $1,500,000 or So
but that much stock had never
before sold in single block IN
the history of the exchange.
And on Friday the tape spelled
out the sale of block OF S.
$4,000 worth of American Tele-
phone g. Telegraph bonds. That
was one of the largest single
transactions in dollars and cents,
that the exchange had on its bond
record books.
The transfer of 350,000 shares
Of Commonwealth & Southern
common stock was quickly fol-
lowed by sale of a block Of 100000
shares. Before the closing bell
rang on Tuesday total sales in
C. 81 s. mounted to nearly 100000
shares, almost equal to trade in
all other stocks combined.
Story Behind Deal.
The story behind Common
wealth g. Southern started week
ago Friday in a Federal court In
Wilmington, Del. An order was
entered which confirmed, over the
opposition of a group of stock
holders, a plan for dissolution of
the utility empire which was at
one time commanded by Wendell
Willkie.
Under the terms of the dissolu-
ton the owner of each 100 shares
of Commonwealth 81 Southern
wiH receive six shares of Ohio
Edison Co. and IS shares Of the
Southern company common
stock.
Wall Street strategists went to
work on what is known as an ar
bitrage deal-which, in short, is
the simultaneous purchase and
sale of the same, or equivalent,
articles.
Commonwealth IL Southern
stock was worth so much on that
day. The total price of the two
stocks which owners of C. & S.
would receive was worth more. So
traders bought c. 81 S. and sold
the stocks of Ohio Edison and the
Southern Co.
At Least One Hitch.
It had the earmarks of sure
fire deal-but there was at least
on hitch.
The purchase of c. Il S. stock
was final. But the sale of the
other two stocks was on a when
distributed" basis-that is. the
sale would not be binding unless
the stock should actually be dis
tributed under terms of the dis
solution.
There was a possibility that the
dissolution might not 60 through
on October /: the date sche-
duled. In that case the sale of
the two when distributed" stocks
would not go through-every such
transaction would be called off :.
Evening star., 1949-07-24

at Wake Forest and his law de-
gree at Harvard in 1910. For 10
years he practiced law in VIM
ston-Salem where he first became
a bank trust officer, He has writ
ten nine widely used books on
trusts.
Capital Store Sales Rise.
Department store sales in Wash
ington for the week ended July
16 ran 6 per cent ahead of the
same week last year and were up
5 per cent from the preceding
week this year. the Richmond Re-
serve Bank reported. Sales were
7 per cent ahead of last year in
the four weeks ended July 16.
Washington sales were an i'm
portant factor in the gain of per
cent in the fifth district in con-
trast to declines in the other II
Federal Reserve districts. The ma
tional average was down 9 per
cent. The fifth district also made
Lne DeSC CraQe reCOfQ IN tne
United States in the week ended
July 8.
Woodward Dividends Voted.
Directors of Woodward &
Lothrop have declared the regu-
lar so cent dividend on the COM
mon stock. payable September %
to stockholders of record Sep
tember g. also the quarterly divi-
dend of $125 a share on the pre-
ferred stock, payable September
% to stock of record September 8.
The American Security & Trust
Co. is distributing complimentary
cards to business people showing
ID. C. Sales and Use Tax Rates"
to be collected on each transac-
tion from S0.14 to $10O. The
cards are obtainable at all Offices.
Conner Assumes New Post.
John L. Conner, new president
of the National Savings and Loan
League which has Washington
headquarters, is former assist
Evening star., 1949-07-24

Y, JuL1 -, lS4S
And some people would own a lot
of c. g. S.
One firm, incidentally, bought
the 35o.000 block of c. & S. 1t
was believed the purchase was
made for the account Of the flrm
itself.
Another angle to the deal was
the fact that c. g. S. this year has
sold as low as So a share. The
trader who bought at SO a share
or thereabouts and was able to
sell at $3.50 had a very tidy profit
indeed.
Short Interest Climbs.
Wall Street was startled on an
other front during the week. When
the stock exchange disclosed that
the outstanding short interest had
climbed to a 16-year high. some
traders were not only surprised
but shocked.
The increase accompanied a
steady rise in stock prices to an
eight-week high. Market observ-
ers had figured confidently that
the rise would force many stock
holders to cover their short sales.
Instead the figures indicated
bearish sentiment had not been
so strong since 1888.
There was one optimistic side
to the report, however. The re-
port showed that more than l.
800 900 shares Of stock had been
borrowed and sold on the theory
that the stock could be bought at
a lower price and the loan repaid.
Sooner or later these short sales
must be covered-which puts q
comfortable cushion under the
market.
Prices Take Plunge.
While all this was going on the
market kept on rolling ahead on
it's summer rally from the 4l2-
year low hit on June 13. Every
thing went along smoothly until
Thursday. Selling took on a
keener edge and prices. on aver
age took the worst spill OF the
preceding three weeks or so.
Many traders and their custo-
mers left Wall Street for the week
end with one question uppermost
in their minds:
Was the Thursday price drop
the end of the summer rally
or merely a temporary interrupt
ton?
Closing prices, and changes for
the week, of some leading stocks:
Gen. Motors $60.12 up $100;
US. Steel $22.87 up so cents:
Commonwealth 81 Southern $462
up 81 cents: Chrysler $4,000 up
$1.O0; US. Rubber $3.50 off so
cents: Sears Roebuck $4,000 up
S1.25: International Harvester
s25.62 off Is cents; American
Telephone SALTS up so cents;
Anaconda Copper s28.00 off 25
cents; General Electric $36.87 up
IL cents; Dow Chemical $47.25 off
IL cents; Eastman Kodak SALTS
up IL cents; Philip Morris $45.75
up $1.87: us. Gypsum $3.50 off
so cents; Santa Fe $86.25 up $1.37:
Southern Pacific $36.62 off 25
cents; Nickel Plate $1,000 up
$500; Standard Oil (ND $67.12
up 81 cents; Union Pacific $80.25
up Sits; United Air Lines $14.12
up $100.
And on the curb: Electric Bond
81 Share $14.12 of II cents; Nj
agara Hudson Power $11.75 up IS
cents; Barium Steel $3.75 up IL
cents; American Gas $44.37 off
$1.87; American Natural Gas
s24.87 up IL cents; Arkansas Nat
ural Gas a 1925 up Is cents;
Cities Service $4725 up IS cents;
Kaiser Frazier $475 up Is cents.
Evening star., 1949-07-24

ant governor or
the F. e d e + a |
H o m e Loa
B a n k System
and had charge
of the System s
T h ird w ar
Bond Drive. He
is from Atlanta
where he heads
the $9,000,000
Southern Fed
eral Savings e.
Loan Associa-
ton.
R oil nd P.
Evening star., 1949-07-24

CarOllna 1aTul
and write more
books.
Washing t on
bankers have
heard many Of
his addresses
on trust sub
jectas here, at
con V e n tion 5
and at t h e
G r a d Il a t g
S c h ool of
Banking. Born
in North Caro-
lima, he took
Evening star., 1949-07-24

WEEK ENDING SATURDAY, JULY q. l949
Qnotations turnlsned BY the Assoclated Press
Evening star., 1949-07-24

fInit of trading lO SndIeS I'm DaukEuptCy OF re-
eyership or being under the Bankruptcy
Act or securities assumed by such companies. Rates
IF dividends in the foregoing table are annual dis.
oursements based the last quarterly or
iiv,aends are included cid Called: Ex dividend
r Ex rights Also extra extras. Plus stock
iividend Cash or stock e Paid last year Pay,
lble in stock estimated cash value on ex-Svldend q
paid after stock divldend split-up. Declared Or
n arrears p paid this year dividend omitted de-
r Declared ie4s. paid in I94a Louida ting dividend
q PAYABLE stock, exact cash value undetermined on
declaration data.
Arkansas State press., 1949-06-03
MIR Chapter
Naacp Celebrates
Anniversary

The celebration of the fortieth
anniversary of the national organi-
cation, and the opening of the
membership drive Of the North
Little Rock chapter of the NAAC
p will be held at the First Bap-
fist church at 9th and Pine SITS.
Sunday at three o'clock p. m.
Outstanding participants on the
program will include Attorney j.
r. Booker, L. c. Bates, editor and
publisher of the STATE PRESS,
and Rev. c. c. Blake, dean of the
theological seminary at Shorter
College, who will deliver the adj
dress. The program will be emceed
by Mrs V. R. Robinson, secretary
of the committee.
Mrs. Birdie Williams is presl-
dent of the local chapter and
chairman of the membership drive
committee. Other members of the
committee are Mrs. Holman, W. A.
Fair, Mrs. Nora Boyd, W. H. Will
liams, Mrs. Teddie Graves, Mrs
Ellen Robinson, and Mrs. " r.
Robinson.
Arkansas State press., 1949-06-03
" Membership
Drive Over The Ton

Phyllis Wheatley's YWCAs
Membership Enrolment Campaign
has topped the ST. 900 mark which
was the goal this year. This goal
was so per cent higher than last
years according to Mrs. c. Glad
ney and Mrs. A. Hinkle, Co-Chair-
man OF the YWCA Membership
Committee, who wish to publicly
commend all captains and work.
ers in the Drive, for their hard
work and enthusiastic support.
All workers and members will
be entertained at a ~ Round
Up Party on Wednesday, June 8
at 8 P. NJ At this time Mrs.
Phyllis Wheatley will be crowned
and cash awards will be present
ed to the winning captains.
The Program committee, Mrs c.
A. McCullum Chairman, has ar
ranged novel and entertain
ing program to honor l949's
Membership Team. The pro-
gram is in charge of Mrs. Hazel
Hynson and promises to be the
best.
Arkansas State press., 1949-06-03

Dallas, Texas-Like a tire with
slow leak, the Trinity River
has gradually gone down. But from
Dallas to Fl. Worth, distance OF
some SO miles, the raging Trinity
left its marks of tragedy and
thousands have been left homeless
and hungry.
In Dallas some 500 Negroes in
the Roosevelt Addition. a mile
south of the city limits on Second
street, were the hardest hit. The
Dallas Boat club carried the popu-
lation TO safety and they remain
ed on gard during the water
tragedy. Two or three hundred
hogs and cows were saved and a
number of chickens. except those
that were stolen before the guards
were placer around the stricken
area.
The Red Cross cared for hum
dreds at the Fair Park as well
as establishing canteen service at
other parks
One thing sure, all were in the
tragedy and both white and Ne
groes were given the same service
and care by the Red Cross with
out regard to racial lines.
In Fort Worth near 1900 per-
sons were driven from their homes
and many homes were complete
ly wrecked, along with care, and
and after the water receded, one
was able to see only home foun-
dationS and concrete pillows where
houses once stood.
1t is belived also that homes of
Arkansas State press., 1949-06-03
Shorferites Hear 4
Call To Crusade
From Okla Speaker

No matter who you are. or
what you are, or where you may
be, you can do something to change
the world for better said Miss
Willie Strong, Principal of Meal
lister high school, McAlister Okla
homa Willie Strong addressing
the graduates and others present
at the comm en- e m G n
exercises Of Shorter college,
North Little Rock Arkansas, Thurs
day america has failed as a
crusading force in today's world
because her practices have rot
been consistent with her ideals,
Tic speaker continued. RUSSIA
like the rest of the world is lost
il the light of the Christian Cruz
saoe fails TO penetrate her iroa
curtain
Turning to the graduates, the
speaker issued a challenge to them
and at the same time eulogized
the African Methodist Episcopal
church with the words. 'l949 grad
yates of Shorter college. you are
especially fortunate to have been
associated with the traditions, l.
deals. ana principals of this great
institution.
Richard Allen, pioneering cru
SADIE, founder of the first indepen-
dent Negro church, the proud A
frican Methodist Episcopal church,
established an institution which
lifted the race from spiritual iso-
lation to spiritual salvation and
civic recognition From Richard
Aliens Blacksmith congregation
to $4,000 congregations with SITS.
Arkansas State press., 1949-06-03
DR.. 0. D. Henry To
Address Local
kAACP Meeting

Reverend o. D. Henry, PHI. D.
from Indiana university. Bloom
ington, Indiana, will be the main
speaker at the NAACP member
ship drive meeting to be held Sun
day afternoon at three p. m. in
the Church of Christ Holiness. IL
ard between Eight and Ninth. of
which Reverand Henry is pastor.
Reverend Henry, has been in
Little Rock only a short time. is
an outstanding figure in civic, ed
ucational, and religious life. A.
mong the many positions which
have been held by this vercatile
scholar are police commissioner
and judge at Passaic. New Jersey,
President of c. M. and l. college
at Jackson, Mississippi, president
of the NAACP in several locali-
ties as well as a member of the
National Board, and teacher and
See MEETING-page four
Arkansas State press., 1949-06-03

100000 in real estate and an an
nual expenditure of $28,000000.
Graduates of 1919, be ashamed
to die until you have performed
some outstanding service for your
fellowmen."
Degrees to Mrs. Tillman and Miss
Turner
Reverned Meekins, Dean Of r.
r, Wright school Of Religion, de-
livered the invocation; Bishop w.
A. Fountain, Chancellor of Shorter
college, introduced the speaker;
Dean S. E. Rutland of Shorter,
presented the candidates for de-
grees which were awarded by
See SPEAKER-page four
Arkansas State press., 1949-06-03
GA. H00DLUMS LYNCH NEGRO
Negroes Taken From Cell
After Sheriff Leaves Kew

lRWlNTON, Ga.-A mob of white hoodlums ynched
young Negro here Sunday night after they had
the sheriffs house of which county ial
The VICTIM Calf HILL jrs %, after fight In
which, Sheriff
Arkansas State press., 1949-06-03

PROF HONORED-A Of citizens headed by o. Faison,
vocational teacher and Miss Artense Pmprey End grade teach
presented Professor j. c. Cook retiring principal Of Wghs
vile high school, with suit of clothes last week for his fifty
years of service at the school, Pictured above Mr. Fason
presenting the gift to Prof Cook friend foo
Arkansas State press., 1949-06-03

which, Sheriff George Hatcher re-
ported, he was fired upon.
Mrs, Hatcher said group Of
men in cars drove to the Jail to
take Hill when her husband left
to look for his gun, which had
been lost in the scuffle at the
night spot
Hills body was found about 7
a. m. by creek near Irwinton.
Hatcher said he went to the
night club alone when he received
the report that Hill had stabbed
man.
As he was putting handouts on
Hill in the club, in which there
were about 100 others. someone
grabbed his gun, the sheriff re-
lated.
Hill tackled me and the next
thing ! knew he had my gun and
fired at me. 1t looked like my
Gays were numbered.
Il yelled for help and another
Negro handed me his gun. then
turned it on Hill and marched
him out to my car. / didn't stop
to get my gun"
The sheriff said he wasn't hit
by any bullets but that he was
bruised and his shirt torn.
Il took Hill to jail and put him
in my best CELL" he added, and
then left to look for my gun.
Someone had thrown it out win
COW and it took me about two
hours to find 1t in the woods
near by.
When returned home, went
straight to bed without looking
in on Hill The first thing / knew
about his being killed was when
was called to identity body
this morning.
When l first heard ABOUT II I
See LYNcS1pege terss
Arkansas State press., 1949-06-03
Death Invades
TiIIman' S Family

Grief came to the household of
Rev James E, Tillman pastor of
St. Andrew A. NJ E, church, last
Thursday afternoon when his IA
Their, John CASTOR Tillman, 2023
South Harrison passed away Mr.,
Tillman was born in North Caro-
1910. He married Miss Ophelia
Rutledge three years later. He
spent a long useful life working
mainly in one place, the State
Hospital, and rearing substantial
and successful family.
Funeral services were held in
the Hubble Chapel 10th and cross,
Rev Osborn, Pastor Of St. John
Baptist church. delivered the Ser
mon. Mr.. Tillman was a member
Of this church
Arkansas State press., 1949-06-03

PUTS OVER PROGRAMME. A.
Hinkle, CO-Chairman Of Phyllis
Wheatley Branch Y. w. C. A. s
Membership Committee, who
worked with Mrs. c. GIadney to
put over the 1949 Membership
Enrolment Campaign. Mrs. Hin
kle, who is member of Emman-
uel Baptist church is well known
throughout the city for her abil-
ity to put things ever zee. She now
serving her second year as
member of the Board of Manage
ment.
Arkansas State press., 1949-06-03

&c EMBALMERS-page eight
Arkansas State press., 1949-06-03

SECOND BEST-Mrs. !. w. Dean,
whose team enrolled the second
largest number Of members dur
ing the 1949 Membership Enroll
nment Campaign at Phyllis Wheat
ley YWCA. Working with Mrs.
Dean were Mesdames N. Brad-
ford, o. b. Garner, Pearl AIRING
ton. Grace Lay, Zenobia Bryant,
T. MattersOn, G. McNortCn, Addie
Reece and ID. Nicholson.
Mrs. Deans was the first team
to report $4,000, which was team
goal
Mrs. Dean will be honored along
with other top Captains at the "
Membership Roundup, on june
at the YM.C.A.
Arkansas State press., 1949-06-03
B|||| pF|88|

Negroes were hardest hit in Fl.
Worth because OF the area being
located near Trinity River. Many
left their homes hurriedly with
See HERE AND THERE-page 4
Arkansas State press., 1949-06-03

TO BE CROWNED-Mrs. r. b..
McLemOre who will be crowned
Mrs. Phyllis Wheatley Of 1949 at
the " Membership Round up 70
be held at the ~ ON June at
8 p. M.
Mrs. McLemOre and her team
Of Mrs. A. b. FairchiId and Mrs.
II. A. West, Mrs Margaret Smith
and Mrs. Lula Kingcade brought
in the largest number of member
ships during the recent Member
ship Enrolment Campaign.
Mrs. MeLemore is a member Of
Bullocks Temple Church.
Arkansas State press., 1949-06-03
Funeral Directors
To Meet In
Hot Springs

The Arkansas Negro Embalmers
and Funeral Directors association
will convene in Hot Springs Tues
day. The Harris Funeral Home and
Pages Morturary of the city will
be host. The two-day meeting will
open with w. l.. Jarrett N, Littel
See EMBALMERS-page eight
, 1949-08-05
ART DISPLAY AT
SCHOOL M


The Art Display, which
opened at the Christiansted
Grammar school annex yes
terday, has impressed the
many persons who stopped in
to see it, and were surprised
to see the names of girls and
young ladies, who had never
before studied, art until the
advent of the Summer School
and Mrs. Maria de Castillo, on
several objects. The students
themselves, are proud of their
work and even more so of
their teacher.
Hope is being expressed that
Mrs. Castillo will return dur
ing another summer vacation.
, 1949-08-05
Wulter Reich. CAA
Engineer. Surveys
Airfield Here

Walter C. Reich, District
Airport Engineer with the CT
vii Aeronautics Administra-
ton, came in on the early
plane yesterday and together
with Alfonso Paraliticci, SUI
perintendent of Public Works
made an extensive survey of
the Alexander Hamilton Air
field.
This survey included the
study of local sand stones and
other materials which. will be
used in the resurfacing job to
be done on the airstrip here,
with the $4,000 which was fl
nally made available by the
CAA.
+ In St. Thomas, the $50, 600
will be used primarily for fen
cling, lighting and improve
ment of the terminal.
Mr.. Reich returned on the
afternoon plane.
, 1949-08-05
Hurrigun To Meet
Fsted Constituents
On Thursday


For the convenience of his
Frederiksted constituents the
Honorable Ludwig Harrigan
has set aside every Thursday,
beginning from August II, to
be at his office in Cumberland
Castle. The hours will be from
$50 a. m. until 100 p. m.
Suitable arrangements have
also been made to meet consti-
tuents in the Country district
also.
, 1949-08-05
UNITED NATIONS
ELECTS BOUGH TO.
DRAW UP BRIEF

Attorney James A. Bough,
formerly United States Dis
ttrict Attorney for the Virgin
Islands and now the Staff Re
preventative of the Depart
ment of Trusteeship and infor-
nation from Non-Self-G Govern
ing Territories, has been elect
ed by the United Nations Staff
which has over three thous-
and members.
The Committee of three
Experts, one each from France
Sweden and the United States,
together with a British consul
tant, was appointed by Secre-
tary General Trygvie Lie, to
review and make recommen-
dations in relation to the Unit
ed Nations system Of salaries,
allowances and leave.
, 1949-08-05
.Koreun Communists
Attuck Southern
Government

Communists border patrol
from North Korea swept down
and crossed the border into
Southern Korea at three points
overwhelming two republican
companies and also shelled
their headquarters.
The attack was made just at
the time when General Chang
Kai Shek was about to visit
DR.. Sigmund Rhee at Seoul, to
discuss formation Of a Pacific
a-nti-communist pact.
, 1949-08-05
Pom Am AirWuys
Announces Cuts in
Air Express Rutes

Pan American World Air
ways has announced a reduc-
ton in air express rates and
Inauguration of a cargo SER
vice to meet the growing de-
mand of business for quick
transportation of bulk goods.
The low tariffs are designed
primarily for regular shippers
and importers of everyday
commodities which are NOV
ing by air in a steadily increas-
ing volume.
Rate of air express from
New York to st. Croix has
been reduced from 38 cents to
q cents; Over 100 lbs. the rate
is now being reduced from 30
cents to 81. The rate from Mi
ami has likewise been reduced
from q cents for parcels un-
der 100 lbs. and for those over
from 81 cents to Is.
This announcement was
made by the firm of E. S. Craw
ford, General Traffic & Sales
Agent for Pan American here.
, 1949-08-05
Cricketers Move Back
Opening Date to
August IA

Mr.. Harrigan left on the
morning plane an dreturned
on the last plane.
In order to facilitate the end
ing of the baseball game on
Sunday, the st. Croix Cricket
Association has decided to
postpone their opening game,
which was scheduled for Sun
day, to the following Sunday,
August IA.
Sunday will mark the end Of
the baseball league in Chris
tiansted.
, 1949-08-05
Gdrden Seeds Now
Available At
Agricultural Stution

A shipment of Garden seeds
were received at the Agricultu
raj Station, it was made
known today. The list includes
different varieties of beans
beets, cabbage, carrots, celery,
c%ucumbers, eggplant, Kohl
Rabi, lettuce, okra, onions,
parsley, pepper, radish, squash
turnips, watermelon, tomatoes
and others.
A small amount of cauli-
seeds will be planted
for experimental purposes.
The above listed items are
available to growers at cost
price.
, 1949-08-05
u. S. Chiefs of Stuff
Pleased After Survey
In Europe

After a brief visit to the At
lantic Pact countries and con-
fefences with their military
chiefs, the United States joint
chiefs of staff, headed by Ad-
miral Louis Denfield, have ex-
pressed themselves as pleased.
The Admiral said that the mil
itary organization might be
set up before the end of the
present year.
The military leaders had a
friendly and informal visit
with King George of England
last night. The chiefs announc-
ed that they had reached COM
plete military understanding
with Britain, Norway and Den
mark under the Atlantic pact.
Speaking for the group Admi-
raj Denfield said to newsmen:
We are going home with a
Tar1-r %-Ea - AZ #s14
, 1949-08-05
Municipal Council
Chuir1nun Goes
To ST. Thornus

The Honorable Ludwig Har-
rigan visited St. Thomas this
morning to confer with Cover
nor William II. HASTE, on mat
tiers affecting the Municipal
lily.
, 1949-08-05

much better understanding of
the situation than we had
when we came over. The sub
ject of sharing the atom bomb
was not mentioned in the staff
talks, he said. There was no
general discussion of arms aid.
Our purpose of coming to Eu-
rope was to exchange ideas on
proper organization.